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2021-08-31-accounts

COMPANY NO: 04228443 CHARITY NO: 1088480

ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL

(A COMPANY LIMITED BY GUARANTEE)

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

Page
Governors, Officers and Advisers 1
Report of the Governors 2
Statement of Governors’ Responsibilities 14
Independent Auditors’ Report 15
Statement of Financial Activities 19
Balance Sheet 20
Cash Flow Statement 21
Notes to the Financial Statements 22

ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL GOVERNORS, OFFICERS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021

REGISTERED OFFICE & PRINCIPAL ADDRESS: St Columba's College King Harry Lane St Albans, Hertfordshire AL3 4AW

DIRECTORS/GOVERNORS: Br I LeBlanc SC, BS, Med, MPS
Mr R Duigan BCom (Ed), MEd^
Mr S Watson BA, FCA *~
Mrs A Gray BSc (Hons), ACA *^~
Mrs J Goddard BA (Hons), ACIB ^~ (resigned 31 August 2021)
Mr K McGovern BSc, MRICS *
Mr B Hutchinson, LLB Hons (Law) ^
Br Ronald J. Hingle, SC, M Ed, BS
Mr A Johnson BA ^
Mr O Adams, BA *
Mrs N Lloyd *+ (appointed 2 December 2019)
Br J Holthaus SC, MA *^ (appointed 2 November 2020)
Mrs BM Elliott MA (Cantab), PGCE ^ (appointed 26 April 2021)
Mr K Doran BSc(Hons), MSc, FCMA, ICHEME, CENG* (appointed 26
April 2021)
Br D St Jacques SC,BA, MA, PGF HG Dip(Counselling), MBACP *^
(resigned 2 November 2020)
* Member of Finance and General Purposes Committee
^Member of Education, Strategy and Policy Committee
~ Member of Audit Committee
+ Parent of a student at St Columba's College during the period
OFFICERS Head of College – Mr D Buxton BA,MTh,MA
Bursar - Mr K Evans, BA (Open), Cert. Acc. (Open), CMrg, FCMI
BANKERS: Barclays Bank
22 - 24 Marlborough Road
St Albans
Hertfordshire AL1 3AL
SOLICITORS: Stone King LLP
13 Queen Square
Bath, BA1 2HJ
AUDITORS: Crowe U.K. LLP
Aquis House
49 – 51 Blagrave Street
Reading
RG1 1PL
INSURANCE BROKERS: Marsh Commercial
3rd Floor, Ashton House
499, Silbury Boulevard
Milton Keynes
MK9 2AH
WEBSITE: www.stcolumbascollege.org

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2021

The Directors of St Columba’s College and Preparatory School, who are also the Governors of the College, present their annual report for the financial year ended 31st August 2021 together with the audited financial statements which have been prepared in accordance with companies’ legislation, the Statement of Recommended Practice Accounting and Reporting by Charities SORP 2015 (FRS102) of the Charities Act 2011 and applicable accounting standards.

REFERENCE AND ADMINISTRATIVE INFORMATION

Details of the Governors, executive officers and principal advisors at the time of signing, unless otherwise indicated, are shown on page 1.

STRUCTURE, GOVERNANCE AND MANAGEMENT

As a private company limited by guarantee, the College has Members, the Brothers of the Sacred Heart, Province of the United States.

Organisational Management

The Members hold the reserved authority over disposals, constructions, loans, contracts and purchases planned or unbudgeted beyond prior limits set by the Members; questions affecting ethos and Catholicity of the College; and the appointment of Governors. The Governors appoint the auditor for the Charity; receive the accounts of the Charity for the previous financial year; receive notice of the retirement of Governors whose terms of office will have come to an end; reappoint Governors as applicable, and to discuss and determine any issues of policy or deal with any other business put before them.

The Governors are duly registered with Companies House as Directors of the Company and the Charity Commission. To discharge their duty, they meet as a full Board at least three times each year. The work of implementing most of their policies is carried out by three committees which have agreed, and annually revised, Terms of Reference to assist their functionality. These committees are as follows: Finance and General Purposes Committee; Education Strategy and Policy Committee and the Audit Committee. Further subcommittees may be constituted as required. The operational management of the College is delegated to the Headmaster and Bursar, who together are supported by the College Leadership Team (CLT) and departmental managers. The Headmaster and the Bursar are attendees at Governors’ meetings. Members of the CLT may attend Governors’ meetings by invitation.

Governing Documents

The governance structure of St Columba’s College and Preparatory School (the College) is set forth in its Memorandum and Articles of Association (2001, revised 2012) which define the duties and powers of the Members, Trustees and Governors. An Instrument of Government further defines the roles of Governors, the Headmaster, the Head of the Preparatory School, the Bursar, and the Dean. The Instrument affirms that the College is conducted as a Roman Catholic school and it establishes policy governing the admission of pupils.

Recruitment, Induction and Training of Governors

Governors will normally serve a term of office no longer than nine years. A full induction programme is managed by the Clerk to the Board of Governors. Governors receive induction in respect of safeguarding; sources of revenue; property and asset holdings; Board Policies and Procedures. The Dean inducts new Governors with briefings on the mission and charism of the College. Governors are made aware of specialist training opportunities, including workshops and seminars, by the Clerk as appropriate. In addition to familiarisation with current Strategic and Financial Planning documentation, new information is cascaded to the full governing body at its regular meetings. The Board holds an annual away day at which strategic matters are discussed.

Governance and Leadership

The Governors discharge their legal duties and responsibilities for the overall governance in accordance with the College Articles of Association, Instrument of Government and Terms of Reference documentation. Regular scheduled Board and sub-committee meetings are held, both in person and virtually. Alongside their committee responsibilities, governors regularly visit departments within the College to meet with staff and see the College in operation. One Governor is appointed by the Members as Dean to the College and there are governors nominated for Safeguarding and Health and Safety.

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL REPORT OF THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

The educational leadership of the College is delegated to the Headmaster, who is supported by the College Leadership Team.

The Bursar, who serves as Company Secretary and Clerk to the Governors, is responsible for the overall leadership and management of the support functions of the College and reporting of the financial and property resources, he is supported by departmental managers.

Key Management Personnel Remuneration

The College’s key management personnel are named on page 27 of this report. Arrangements are in place for setting the remuneration for these personnel and the arrangements have due regard to benchmark information and market pay for these roles. This exercise, together with the overall remuneration of other personnel, forms part of the budget process and the Board’s annual salary review.

Relationships

The College advances its religious mission in cooperation with the Diocese of Westminster. It collaborates with other Catholic schools in both the independent and state sectors. The College supports the work of the Brothers of the Sacred Heart (Charity No. 231733) in the advancement of Catholic education in Zambia. It also collaborates with the Catholic Agency for Overseas Development (Charity No. 285776), to strengthen our students’ solidarity with the developing world and annually supports local charities.

The College actively supports the attainment of the highest standards in the independent schools’ sector through the membership of the following:

The Headmaster is a member of the:

The Head of the Prep School is a member of the:

The College is a member of the:

OBJECTS, AIMS AND OBJECTIVES

Principal activities

The Charity provides education in St Albans to young people from the age of 4 to 18. The College also runs summer schools for its own students. Public examination results were strong (see below) and 90% of students gained their first choice of university place.

This year, the College’s Senior School averaged 552 students (2020: 576) and the Preparatory School averaged 196 students (2020: 218).

Charitable Objects

The object of the Charity Company, set forth in the Memorandum of Association, is to advance the Roman Catholic religion by the conduct of a Roman Catholic School or Schools.

Aims and Intended Impact

St Columba’s College aims to provide a Catholic education based on the educational tradition of the Brothers of the Sacred Heart, who were founded “to rescue young people from ignorance, to prepare them for life, and to give them a knowledge and love of religion.” (Brothers’ Rule of Life).

St Columba’s College seeks to enable young people to develop their gifts and talents and to acquire the knowledge and skills relevant to success in university, future employment and adult life. It aims to form a Christian school community in which students of all religious traditions may grow in faith through worship, mutual support and service to society.

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL REPORT OF THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

The College aims to nurture young people who are:

To achieve our aims, it offers:

Objectives for the Year

In shaping our objectives for the financial year and planning our activities, the Governors have considered the Charity Commission’s guidance on public benefit, including the guidance ‘Public Benefit: Running a Charity’ (PB2)

Objectives for the 2020/21 school year were:

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL REPORT OF THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

STRATEGIC REPORT

Risk Management

Governors are responsible for the governance management of the risks faced by the College. Detailed consideration of risk is delegated to the College Leadership Team. Risks are identified, and controls established throughout the year. A formal review of the Charity's risk management processes is undertaken on an annual basis. Through the risk management processes established for the College, Governors are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

The key controls used by the Charity include:

For the financial year ended 31st August 2021; the key risks identified were the continued financial pressure on our parent demographic and competition from local high-achieving maintained schools and academies who are funded by central government. The College is also aware of the risks posed to all independent sector schools by current political headwinds such as a potential increase in the employers’ contribution to the Teachers’ Pension Scheme; the potential loss of charitable status; loss of business rates relief; and the threat of the imposition of VAT on school fees.

COVID-19

The coronavirus pandemic (COVID-19) once again disrupted our operational norm this year. With the support of parents and staff, the College transitioned successfully to online methods of teaching. Prior to the change the College produced, and the governors considered, a series of planning and contingency documents including risk assessments to ensure a smooth switch. Those members of the College support staff who were able to work at home did so and those who were unable to work were, after careful consideration, placed on the Government Job Retention Scheme (Furlough).

As Governors, and mindful of our obligations and duties, we consider the College financial position (no longterm debt and a good level of reserves) to be strong. Similarly, our short- and long-term strategic planning would indicate that the College is robust to continue operating as a going concern.

BURSARY, SCHOLARSHIP AND FAMILY DISCOUNT PROVISION

Bursarial Provision

Whilst understanding that, as a business, the College aims to generate sufficient operating surpluses to be able to invest in its infrastructure; it is important that the education it offers is available to those whose parents are unable to afford the benefits of an independent education. Governors have given careful consideration to the Charity Commission’s general guidance on Public Benefit and in particular to its supplementary Public Benefit Guidance on advancing education and fee charging.

St Columba’s College provides public benefit by offering means-tested bursaries to students for whom independent education is beyond the family financial means. Alongside traditional bursary awards, in fulfilment of the Charity’s object to advance the Roman Catholic religion, Coindre Bursaries are offered to Catholic pupils who would not otherwise have access to the benefits of an independent Catholic education. All bursaries are means-tested on application, and annually, through the submission of a Confidential Statement of Financial Circumstances form and supporting documentation by parents or guardians. Qualifying candidates must meet the College’s standard entrance requirements for admission.

Thirty bursaries with a total value of £364,973 (2019/20: thirty-two awards totalling £437,302) were in place for the 2020/21 school year gifting a remission of fees from 10% to 100%.

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL REPORT OF THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Information about the bursary and the application process is available on the College’s website alongside the Coindre Bursary provision which is also publicised annually in Roman Catholic primary schools across Middlesex, North London and Hertfordshire with notices printed in local press.

The Charity also offers financial assistance to existing family households undergoing hardship; however, as the charity does not have a substantial endowment, financial assistance is means-tested to ensure a balance between fee-paying parents, many of whom make considerable personal sacrifices to fund their children’s education, and the beneficiaries of financial aid.

Scholarships

The College awards scholarships to students who perform at a high academic, musical or sporting level. The continuance of the scholarship award is dependent on the pupil maintaining a level of academic progression and maintaining the ethos of the College.

Family discount provision

To assist families who have more than one child in the school, the Charity offers a sibling discount of 3% for the second child, 4% for the third child and 5% for the fourth child enrolled at the College.

In 2020/21 a range of scholarships were linked to remission of fees with a total of £380,548 (2019/20: £391,656) being awarded in scholarships and sibling discounts.

OPERATIONAL PERFORMANCE OF THE SCHOOL

Prep School

The Prep School is pleased to have continually offered a strong educational experience for the children throughout the course of this challenging academic year. The Prep roll increased from a starting point of 185 children to 203 at the close of the year which again is encouraging given the restrictions in place. Prep remained open for all pupils with, when necessary, children being taught remotely concurrently with children of ‘key workers’ (numbering around 30-38 students per day) being taught in school.

Feedback from the remote period via parental surveys was very supportive and the community aspect of the Prep School was kept rolling via ‘Fireside Chats’ or parental forums and mini competitions for the children to keep a degree of variation and excitement.

There were many highlights this academic year including enrichment via subjects such as Science, Space and Maths weeks. Trips were curtailed for a period of time, but the Prep was able to entertain socially distanced visitors which provided some variety for the pupils.

In terms of pastoral support, the Prep staff worked closely with parents to ensure each child was safe and happy. There were workshops on mental wellness and a forum was held for parents to share ‘lockdown’ tips.

In the Trinity term, it was possible to offer the children more school experiences. This included a resumption of some sports fixtures and trips which included residentials for Prep 4 and 5 and campouts for Prep 3 and Prep 6. Prep 6 performed and recorded their production of Star Warts and Prizegiving took place in the virtual world enabling the Prep family to share in the traditional end of Prep events.

Careful planning enabled the ever-popular Activity Weeks to take place in a Covid secure environment. The one week at Christmas and two weeks in July proved very popular with demand for places high along with a Cycling Proficiency course for Prep 6 with more than half the year group taking part.

The uniform has been revised, curriculum content tweaked and some practical changes to the toilet configuration have helped to ensure we are ready for the next stage in the life of St Columba’s College Prep School. The foundations of a co-educational prep school are being built and the first three girls were welcomed into Reception in January 2021.

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL REPORT OF THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Senior School

Results this year were awarded based on teacher assessment, as a result of the cancellation of public examinations due to COVID-19.

2020/21 once again saw outstanding achievement in the public examinations. At GCSE 62.6% (national average of 28.9%) of the results were at 9-7. The 9-4 pass rate was an excellent 99.8%. The number of ‘9’ grades achieved at GCSE was 179 (21.5%). Our top performing students achieved a full set of top grades, eleven grade 9s. Furthermore, 20 students achieved ten or more 9-7 grades and 52 students, 59% of the year group, achieved five or more 9-7 grades.

A level results saw an A-B pass rate of 85.3% (compared to the UK national average of 66.1%) with 42% achieving an A grade. The A-E pass rate was 100%. Nineteen students achieved all A/A grades. Thirtythree students, 55% of the year group, achieved AAB or better.

As an institution whose charitable objective is the advancement of religion, St Columba’s College takes special pride in its students’ achievements in Religious Education. Some 72% of the cohort, sixty-two pupils, achieved grades 9 to 7 in GCSE Religious Studies, with twenty-three boys achieving the maximum grade 9. Fourteen boys sat A level Religious Studies with 78.6% gaining A*-B passes.

The traditional school year was again disrupted due to the COVID-19 enforced lockdown. As a result, again the College teaching operation moved to the delivery of lessons remotely using online platforms. Staff showed great professionalism, dedication and flexibility in adapting the way they delivered dynamic online lessons. Parental support was strong and feedback from staff, parental and pupil questionnaires was very positive. Pupils responded well to online lessons, and their attendance was excellent; the process of submitting work for marking and the resulting feedback meant that real progress continued unabated despite the lack of physical contact. The College was also able to continue to provide strong pastoral care by ensuring regular contact with parents and students from the House teams.

PE, Sport and Games

The Governors are proud of the College’s ability to deliver a wide variety of sports ranging from the more traditional team sports through to choices such as golf, climbing; and fencing which are available as Games options.

Prep School

The main theme of the year has been remaining adaptable and providing for the individual needs of the pupils. From September changes in how PE lessons were delivered were required due to Covid restrictions, and the lessons were a great success. For games lessons, pupils remained in Year groups and the Michaelmas term culminated with the inter-house football competitions which the pupils really appreciated. Unfortunately, we were unable to have any inter-school fixtures at this time.

Trinity term began slowly but, with small steps, things started to get back to normal and by week three of term we had our first inter-school fixture. These continued throughout the term with every pupil in the Upper Prep having at least one inter-school fixture before the end of term. It was a real achievement that our Colts Cricket team won all of their inter-school matches with very strong performances.

Senior School

The 2020/21 sporting year has been unique. The first two terms were devoid of any competitive inter-school sport due to Covid restrictions but there was an opportunity for students to take part in a range of practices during the week and then partake in internal games on a Saturday morning. Competitive fixtures resumed in the summer term and saw some significant successes for members of the College.

Inter-House Sport

Inter-house sport became the main competitive outlet for the pupils during 2020/21 and the usual determination and passion remained evident. House rugby made a welcome return to the inter-house programme by utilising the modified laws of the game with McClancy House crowned the winners of the combined competition. Stanislaus House finished in first place overall in the football. The year ended with the usual inter-house summer competitions of tennis, softball and athletics (in the form of Sports Day).

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL REPORT OF THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

McClancy House won both tennis and softball whilst Guertin House were overall victors at a Sports Day which heralded the return of whole school events.

Golf

A return to in-school teaching before the start of Easter brought a return to competitive inter-school sport in line with national governing body guidelines. The senior golf team progressed to the area final of the HMC foursomes.

Tennis

The Form 3 and 4 ‘A’ teams won the Hertfordshire Division 2 LTA Team Tennis competition for the second year running progressing through to the regional final in the Autumn.

Athletics

There was a curtailed athletics programme with a reduced number of meets for all year groups. The most notable performance came at the County Championships where a Form 5 boy, in his first full season of competition, won in the senior 1500m steeplechase in an English Schools’ qualifying time. He subsequently went on to take the bronze medal at the English Schools’ Championships.

A modified all day District Championship saw competitions for Form 3 and 4 this year. Ten medals were won overall with golds for students in the U14 100m (setting a new District Champions record of 11.7s), U15 Hurdles, 800m, Triple Jump and the U15 Shot Putt. The Form 4 team finished a creditable third place overall.

Cricket

All College junior teams were entered into the County and District cup draw as well as the 1[st] XI playing several friendly matches. Both the U13s and U14s reached the quarter final stages of the County Cup before losing to eventual winners. In the District Cup, all teams reached the semi-final stage with the U12s progressing to the final where they were pipped to the title by just 5 runs. The U13s crowned an excellent season with victory over St George’s by eight wickets in the final to lift the District Cup.

Music and Drama

Due to the restrictions imposed by the Government lockdowns, significant adaptations had to be put in place to enable performance music to continue. Whilst public concerts did not take place over this year, the College community did continue to enjoy a range of performances via virtual and pre-recorded video media. The annual Carol Service was pre-recorded in St Albans’ Cathedral then released as a video presentation at the end of the Michaelmas term. College Recitals and Scholars’ Recitals were produced by the Music Department and an end of year concert video to showcase the work of the various ensembles over the year was published to parents.

Appropriate mitigations for social distancing were put in place to enable a near-normal ensemble programme, helping to enrich the extra-curricular activities of the students during ‘lockdown’ periods. The Chamber Orchestra, Wind Band, Jazz Band, Bell Choirs, String Ensemble, Senior Choir, Barbershop, VoxPops and Wind Trio continued weekly rehearsals throughout the year, when school was open to students and staff.

Over the course of the year, many boys successfully passed music examinations through ABRSM and Trinity.

Drama

The creation of a new ‘Black Box’ Drama Studio has been a great addition this year. The neutral, black box space, enhanced by bespoke fixtures and fittings, allows students to experience the full impact of the LED lighting and sound, which also allows for a more theatrical and traditional staging experience.

In lieu of college productions this year, the College hired a professional former BBC cameraman to assist the Head of Drama in making a film of The Wind in the Willows, starring pupils from Forms 1 to 3, and using College locations. Iona House proved ideal for Toad Hall and various other locations for scenes in the film, including the Boardroom for the Court Room scene and trial of Toad.

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL REPORT OF THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

SHAPE

St Columba’s prides itself on providing personal attention to students and treasuring their unique gifts. Our bespoke enrichment programme ‘SHAPE’ (Service, House, Academic, Practical and Extracurricular) ensures all staff and parents have a framework to know how each child is challenged and valued for their efforts. Each component encourages students to develop personal qualities as part of their character education, for example, Service work invites students to take responsibility and develop empathy, whereas Extracurricular activities invite students to take risks and be creative.

Service

Students are aware of the concerns of others to make the world a better place. This includes service to the College and wider community. Internal opportunities include acting as Mentors, Open Day guides and involvement with Eco-Schools and Recycling projects. Externally students can engage in charitable initiatives such as CAFOD, Watling View School volunteering and Project Respond.

House

The College Houses are central to the pastoral life of the College and students play a full part in inter-house competitions, socials and leadership opportunities within their House.

Academic

Students are academically stretched in all aspects of the curriculum. Most departments run clubs and trips within their specialist disciplines. Stretch & Challenge students across year groups are given the opportunity to enter the Maths Challenge and attend focused ‘In Search of’ workshops learning about Galileo, Da Vinci and George Bernard Shaw,

Practical activities

All students are encouraged to partake in major co-curricular activities across the College, whole College Sport, Drama, and Music choirs and ensembles are particularly popular with practices rehearsals scheduled for every lunchtime and after-school clubs.

Extra-curricular

The College offers a wide variety of non-academic clubs and associations both within the College and using external providers. It is through these clubs and activities that students develop broader life-long skills and hobbies. Many friendships and bonds are formed within the very popular Combined Cadet Force and on the highly rewarding Duke of Edinburgh Bronze and Gold Award schemes. Many of our clubs including Scrabble Club, Chess Club, Italian Club are often oversubscribed.

Post periods of enforced lockdown, the College provided additional opportunities for students to engage in outdoor physical activities, sports, and various extracurricular activities which had not been possible during periods of Covid restrictions. The majority of students actively engaged in after-school activities.

Trips and Visits

During the year, College pupils were only able to benefit from participating in local and UK-based trips. When restrictions eased, several day trips were coordinated to extend student learning, such as theatre trips to London and the Henry Moore Art Trip. The College was especially pleased to have year group residentials at the end of the Trinity term. The College was also able to provide a week of leadership, teamwork and preparation for university activities for Upper Sixth leavers and Form 5 after they had completed their Teacher Assessed Grades. This included an exciting range of educational and fun activities, such as a self-defence course, Thorpe Park and other outdoor activity challenges.

The highlights were:

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL REPORT OF THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Duke of Edinburgh’s Award scheme

The Duke of Edinburgh’s Award Scheme at the College continues to go from strength to strength, undeterred by the difficulties presented by Covid-19. Carefully following social distancing guidelines, expeditions continued with 19 students attending Gold qualifying expeditions during the summer holidays. The College is ranked as the number one independent school for completion rates in Hertfordshire and the number 2 centre overall in Hertfordshire. During this particularly difficult year, St Columba’s students have achieved a creditable 34 Bronze qualifications and 11 Gold awards.

Combined Cadet Force (CCF)

The Combined Cadet Force (CCF) continues to attract a large number of recruits, including Form 2 students into the Junior Leadership Programme. Whilst the traditional field exercises and combined cadet forces annual summer camp had to be cancelled the year, the year ended with a very successful and enjoyable self-organised contingent camp which included:

Science and Mathematics

In Science and Mathematics there were several successes and achievements, of particular note:

Communications, Admissions and Development

This year the marketing and communications strategy has successfully flexed around the very big challenges posed by the pandemic and the phased transition to co-education throughout the whole College. One of only three schools selected for inclusion in The Good Schools Guide in 2020, St Columba’s College is continuing its extensive and ambitious marketing and media campaign to communicate and promote St Columba’s College as the school of choice for parents across Hertfordshire, North London and beyond.

Using the College’s new visual identity created for this academic year means that the target audience receives a unified St Columba’s College message, voice and brand across all marketing and communications channels. As a result, St Columba’s College has been shortlisted for the Independent Schools of the Year Awards 2021 in the ‘Effective Brand Communication’ category.

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL REPORT OF THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Public Benefit

In fulfilling its charitable objects and furthering its public benefit obligations, the College has built strong relationships and strengthened its links with the wider community. Students were actively engaged in a variety of charitable and service projects. Many of the current partnerships were restricted by Covid, for example, the College facilities were not hired out to the local community and traditional student volunteer placements could not take place. The College was, however, resourceful, taking the opportunity to adopt new projects often in an online format, such as the Virtual Homeless Sleepout, in which students joined each other live via computer-generated platform events from home.

Of particular note:

Fundraising figures for 2020-21

Bursaries and financial assistance totalling £408,190 were given in 2021 (2020: £469,410). Means-tested fee reductions were granted to thirty students of whom eleven benefitted from a full remission of fees.

In fulfilment of its object to advance the Roman Catholic religion through the conduct of schools, the Charity maintained its longstanding relationship with a Catholic school in Zambia. The Charity provided grants totalling £5,290 in support of St Francis School in Zambia.

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL REPORT OF THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

FINANCIAL REVIEW

The College’s financial performance is set out in the Statement of Financial Activities on page 19.

During the financial year to 31[st] August 2021, the Company made a surplus of £469,907 (2020: surplus of £683,369).

Income is derived largely from the charging of tuition fees and the College’s charitable status ensures that parents have the assurance that all income is reinvested in the College to improve its assets and facilities for the benefit of current and future pupils. The surplus generated this year takes into account the amounts received from the Government’s Job Retention Scheme. The College continued to allocate significant resources to staffing to reflect the importance of recruitment and retention of high calibre teaching and support staff.

Overall fee income has decreased by 5.7% on last year when adjusted for the fee reduction awarded in the Trinity Term 2020. This reflects the corresponding reduction in the College roll of 5.7%. It should be noted that, considering the impact of the global pandemic on parental finances, the Board did not impose a fee increase for the year 2020/21. When setting the fees, the Governors are mindful of the need to balance the quality of the educational services provided against the fees charged to parents for those services. The College considers a number of key performance indicators in relation to financial performance. These indicators allow the College to monitor performance of budgets and cashflow over time and in relation to the sector in general. As Governors we consider the financial position in keeping with market conditions and are pleased with the results for the year.

Reserves Policy

The Reserves Policy is to maintain financial resources sufficient to meet the College’s normal working capital requirements as well as current and future bursary and capital expenditure obligations and plans. This policy is reviewed at least annually.

The reserves of the College are represented by the unrestricted and restricted funds as shown in notes 13 and 14. The total funds held by the College at the end of the year were £13,309,300. Of these funds £152,509 was restricted and not available for general use. This leaves an unrestricted funds balance of £13,156,791 of which £10,364,337 represents the tangible fixed assets of the Charity and £69,009 have been designated. Available unrestricted reserves therefore amount to £2,723,445.

The Governors are delighted to report investment of substantial sums into College buildings as part of an ongoing programme of refurbishment, development and investment to maintain excellent teaching facilities for our students. The College has a rolling long-term maintenance plan and Governors are confident that future capital expenditure requirements in this area can be met from funds generated from continuing operations.

The Governors are satisfied that ongoing capital expenditure can continue to be funded from annual operating surpluses and so consider that the existing levels of reserves are appropriate for the sort and medium operational needs of the College. Additional reserves generated from ongoing operations will continue to be used to support the award of further bursaries and to finance continuing capital expenditure on improvements to the facilities, infrastructure and buildings on the College campus which will further improve the offer for our pupils and the wider community.

Restricted and Designated Funds

There were eight restricted funds held by the College during the year:

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL REPORT OF THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

There was one designated fund held by the College during the year:

Investment Policy

The College does not have an investment portfolio. Cash surpluses and advances are held by the College’s bankers in separate interest-bearing accounts as applicable.

Fundraising Statement

St Columba’s College is registered with the Fundraising Regulator (ID-165872) and follows its regulatory code of fundraising practice. The College raises funds principally from alumni, staff and current parents. The College is also fortunate and grateful to receive donations and occasional legacies from individuals, particularly from people who are part of, or have been part of, our Columban Network and wish to show their appreciation and support. St Columba’s College does not engage in large-scale fundraising activities such as mass mailings, telephone fund-raising or door-to-door campaigns. St Columba’s College has not received any complaints about any aspect of its fundraising.

FUTURE PLANS

Page 13

ST COLUMBA'S COLLEGE AND PREPARATORY SCHOOL REPORT OF THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 STATEMENT OF GOVERNORS, RESPONSIBILITIES Th8 Governors (who are also Directors of St Golumba's College & Preparatory School lor the purposes of company lawl are responsible lor preparing th8 Governors, Report and the financial statements in accordance with applicable law and Uniled Klnodom Accounting Standards (Unitod Kingdom Generally A￿epted Accounting PraGlice,I Company law r8quir8s Govèrnors lo prepare financial slalem8nt8 lor each linancial year whlch give a true and lair view ol the state of the allairs ol the Charitable Company and ol the oulgoing resources and application ol resources, includlng the income and gxpendilure, ol the Charitable Company lor that year. In preparing these financial 51atemenls, the Governors are requirèd to.. select 8uilabl8 accounting polieies and then apply them consislenlly., obs8rve the melhcés and principles in the Charities SORP., mak8 judgements and estimates that *e reasonable and prudent.. stale whether applicable UK AG¢ouniing Standards havg been lollowed, sublecl lo any malerlal departures disclosed and explalned in the financial stalemenl8', and prgparo the financial slalomenls on the going concern basis unl&$$11 is Inappropriate lo presume that thg Charltabl8 Company will conllnue in business. The Governors are re8pon5ible lor keeping proper accounting reeords that disclose with reasonable accuracy al any lim8 the financial position ol the Charitable Company and enable them lo en5uro that the financial statements comply with the Companles Act 2006. They are also responsible lor 8aleguardlng th8 assets ol th8 Charitable Company and hence lor taking reasonable $18p8 lor the prevents'on and doteciion ol fraud and other irregularities. In so lar as Ihe Governors are aware.. theT8 is no relevant audit information ot which the Charitable Company's auditor Ss unaware., and the Governors have laken all steps that they ought lo have taken lo make themselves awar8 ol any relevant audit information and lo establish that the audltor is aware ol that Inlormalion. In approving Ihl8 Govwnors, Report, the Governors are also approving lh& Strategic Report in ac¢ordance with Compani88 Act 2006 (strateg￿ Report and Oireclor¥' R8portl Regulation8 2015 in th•ir capacity as company directors. Approved by the Governor8 01 Sl Columba's Coll¢o0 on 6th D8cernber 2021. and sign8d on their behalf by.. Director.. Kevin McGovern Dale Company Secretary.. Kenneth Evans Dal? oz( Page 14

Crowe U.K. LLP

Chartered Accountants Member of Crowe Global Aquis House 49-51 Blagrave Street Reading Berkshire RG1 1PL, UK Tel +44 (0)118 959 7222 Fax +44 (0)118 958 4640 www.crowe.co.uk

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL

Opinion

We have audited the financial statements of St Columba’s College and Preparatory School for the year ended 31 August 2021 which comprise statement of financial activities, the balance sheet, the cashflow statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the governors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the governors with respect to going concern are described in the relevant sections of this report.

Other information

The governors are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Page 15

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL (CONTINUED)

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the governors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of governors

As explained more fully in the governors’ responsibilities statement set out on page 14, the governors (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the governors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the governors are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 16

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL (CONTINUED)

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were taxation legislation, together with the Charities SORP (FRS 102) and Companies Act 2006. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the College’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014, Health and Safety, General Data Protection Regulations, Safeguarding and Food Standards. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Governors and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of non-fee income, and the override of controls by management. Our audit procedures to respond to risk of non-fee income recognition included selecting a sample of income during the year, agreeing back to the relevant documentation and ensuring it has been recognised correctly. Our audit procedures to respond to the risk of management override included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission and Independent Schools Inspectorate, and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Page 17

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL (CONTINUED)

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Alastair Lyon

Senior Statutory Auditor For and on behalf of

Crowe U.K. LLP

Statutory Auditor

Aquis House

49-51 Blagrave Street

Reading

RG1 1PL

11 January 2022

Page 18

ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021

Note
INCOME FROM:
Charitable activities
3
Grants and donations
Government CJRS income
Investment income
4
Total
EXPENDITURE ON:
Raising funds
Charitable activities
Total
6
Net income
Total funds brought forward
Total funds carried forward
12a		 Unrestricted
funds
£
11,159,635
38,773
43,534
19,327
11,261,269
6,832
10,773,966
10,780,798
480,471
12,676,320
£ 13,156,791		 Restricted
funds
£
-
20,255
-
-
20,255
-
30,819
30,819
(10,564)
163,073
£
152,509		 Total funds
2021
£
11,159,635
59,028
43,534
19,327
11,281,524
6,832
10,804,785
10,811,617
469,907
12,839,393
£ 13,309,300		 Total funds
2020
£
11,148,705
195,651
199,794
42,623
11,586,773
15,116
10,888,288
10,903,404
683,369
12,156,024
£ 12,839,393

The notes on pages 22 to 36 form part of these financial statements

Page 19

ST COLUMBA'S COLLEGE AND PREPARATORY SCHOOL BALANCE SHEET AS AT 31 AUGUST 2021 COMPANY REGISTERED NUMBER: 04228443 Note 2021 2020 FIXED ASSETS Tangible a88els CURRENT ASSETS Stocks Debtors Cash in harKI 1.941 137,637 575841 1,885 21Q,608 5,897.991 5, 147,066 CREDITORS: Amounts lalllng due within one ygar 44 14 22 NEf CUARENT ASSETS 444 TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: Amounts falling due aller one year 10 81 12 TOTAL NET ASSETS UNRESTRICTED FUNDS General funds Designated funds 14 14 13.087,782 69.009 12,582,768 93,552 RESTRICTED FLINDS 13 TOTAL FUNDS Approved by the Board ol Govgrnors un 61h Decemt*r 2021 and 8igned on ils behalf by.. Mr Kgvin MCGO rn Chair ol Governors The notes on pages 22 to 36 form part ol these tinanclal statements Page 2Q

ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2021

Note
Net cash flows from operating activities
15
Cash flows from financing activities
Interest received
4
Interest paid on finance lease
6
Finance lease repayments
Net cash flows from financing activities
Cash flows from investing activities
Purchases of tangible fixed assets
7
Net cash flows from investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Total cash and cash equivalents at the end of the year		 2021
£
1,274,827
19,327
(612)
(4,068)
14,647
(465,634)
(465,634)
823,840
4,934,573
£ 5,758,413		 2020
£
1,300,179
42,623
(510)
(3,390)
38,723
(462,156)
(462,156)
876,746
4,057,827
£ 4,934,573

The notes on pages 22 to 36 form part of these financial statements

Page 21

ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

1. COMPANY INFORMATION

St Columba’s College and Preparatory School is a private company limited by guarantee and incorporated in England and Wales. The registered office is King Harry Lane, St Albans, Hertfordshire, AL3 4AW.

2. ACCOUNTING POLICIES

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

St Columba’s College and Preparatory School meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

b) Going concern

After making enquiries, the governors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly they continue to adopt the going concern basis in preparing the financial statements.

c) Income and expenditure

All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Fees consist of charges for the School year ending 31 August 2021.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

The irrecoverable element of VAT is included with the item of expense to which it relates. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Expenditure in respect of the Governance of the Charity includes Governors’ expenses, audit and certain legal costs.

d)

Fees and similar income

Fees receivable and similar income are recognised in the period for which the service is provided. Fees are stated after deducting bursaries, scholarships, and other remissions granted by the College.

e) Grants and bursaries

Bursaries and allowances from unrestricted funds towards College fees are treated as a reduction in those fees. Bursaries funded from restricted funds are included as expenditure in the period in which the award is given or committed.

Page 22

ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

ACCOUNTING POLICIES (continued)

f) Donations policy

Donations received for the general purpose of the College are credited to “unrestricted funds”. Donations received for specific projects or activities are credited to “restricted funds”. All donations are accounted for when the governors know with certainty that they will be received.

g)

Investment income

Investment income is recognised on a receivable basis.

h) CJRS grant income

Grants are accounted for under the performance model as permitted by the Charities SORP. CJRS grant income is therefore recognised on a straight line basis over the furlough period for each relevant employee.

i)

Resources expended

Resources expended are accounted for on an accruals basis. They are recognised when there is a constructive or legal obligation to pay for expenditure. The irrecoverable element of VAT is included with the item of expense to which it relates.

j)

Taxation

Under Section 505 of the Income and Corporation Taxes Act 1988 the company is exempt from certain taxes. Full account is taken of tax credits attaching to donation under gift aid and dividends.

k) Tangible fixed assets

Depreciation is provided by writing off the cost of tangible fixed assets by equal annual instalments commencing with year of acquisition.

Freehold buildings (at valuation) 50 years
Structural improvement 20 years
Motor vehicles 4 years
Fixture and fittings 10 years
Plant, equipment, and IT Between 3 and 10 years

Tangible fixed assets (other than computer equipment) with a cost of over £5,000 are considered for capitalisation in line with the projected lifespan of the asset.

l) Assets held under a finance lease

Assets obtained under a finance lease are capitalised as tangible fixed assets. Assets acquired by a finance lease are depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 23

ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

ACCOUNTING POLICIES (continued)

m) Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

n) Retirement benefits

The charity contributes to the Teachers’ Pension Defined Benefits Scheme at rates set by the Scheme Actuary and advised to the Board by the Scheme Administrator. The scheme is a multiemployer pension scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the College. In accordance with FRS102 therefore, the scheme is accounted for as a defined contribution scheme. The charity also operates a defined contributory group personal pension scheme for non-teaching staff.

During the period the company also paid benefits into a Standard Life Defined Contribution scheme. Contributions are charged to the Statement of Financial Activities as incurred.

o) Unrestricted General Funds

There are funds which can be used in accordance with the charitable objects at the discretion of the governors.

p) Designated Funds

There are funds that are not legally restricted but which the governors have chosen to set aside for specific purposes.

q) Restricted Funds

There are funds which have been given for particular purposes and projects.

r) Operating leases

Rental costs under operating leases are charged to expenditure as the annual charges are incurred over the lease periods

s) Significant judgements and estimations

In the application of the charity’s accounting policies, which are described in note 2, governors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The governors consider that there are no material judgements in applying accounting policies or key sources of estimation uncertainty.

Page 24

ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

ACCOUNTING POLICIES (continued)

s) Significant judgements and estimations (continued)

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods.

t)

Deposits

The governors have reviewed the contract terms under which pupil fee deposits are held by the College. Although under normal circumstances these will be repaid over future years when the pupils complete their education at the College, pupils can leave at earlier dates. The College does not therefore have an unconditional right to retain the individual deposits for at least 12 months after the balance sheet date and, in line with the requirements in FRS 102, the balance of the deposits held at 31 August 2021 have been included within current liabilities. The prior year pupil fee deposits balance has been similarly represented

u)

Financial instruments

Basic financial instruments include cash, debtors and creditors. Debtors and creditors are initially recognised at transaction value and subsequently measured at amortised cost. Note 20 provides more information on financial instruments where future cash flows are anticipated, with financial assets referring to fixed asset investments and debtor balances excluding prepayments, and financial liabilities referring to all creditor balances excluding deferred income.

Financial assets held at amortised cost are fees receivable (net of provision for doubtful debts), other debtors, and cash in hand.

Financial liabilities held at amortised cost are bank loans, trade creditors, deposits repayable, other creditors, accruals and net obligations under finance leases.

3.

INCOME FROM CHARITABLE ACTIVITIES

The College’s fee income comprised:
Gross fees
Less:
Scholarships, bursaries and other discounts
Other educational income:
Entrance and registration fees
Other ancillary activities
College coaches, sales of text books, and other income		 2021
£
11,635,103
(851,981)
£10,783,122
15,975
360,538
£11,159,635		 2020
£
11,725,573
(959,496)
£10,766,077
13,925
368,703
£11,148,705

Page 25

ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

4.
INVESTMENT INCOME
2021
£
Bank interest receivable
£
19,327
5.
STAFF COSTS
2021
£
Wages and salaries
5,760,915
Social security costs
607,558
Other pension costs
Other staff costs
1,078,042
24,055
Apprenticeship levy
13,794
£7,484,364
Included in wages and salaries is £14,362 of settlement costs_(2020: £32,494)_.
No.
The average number of employees in the period was:
Educational
93
Welfare
22
Administration and campus support
38
Premises
7
160
The following number of employees exceeded £60,000
emoluments:
2021
£
£60,001 - £70,000
£70,001 - £80,000
£80,000 - £90,000
£120,001 - £130,000
6
1
2
-
£160,001 - £170,000
1
10
Total cost of Employer’s pension contributions in relation to the
above
£ 159,714		 2020
£
£
42,623
2020
£
5,836,563
607,587
1,103,070
17,709
14,080
£7,579,009
No.
95
22
37
7
161
2020
£
7
-
1
1
-
9
£
173,206

Page 26

ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

5. STAFF COSTS (CONTINUED)

None ( 2020: none ) of the governors received remuneration or other benefits in the year.

One ( 2020: one ) of the governors received reimbursement of expenditure of £159 ( 2020: £209 ) for travel, accommodation, subscriptions, and subsistence.

Key management personnel (comprising the Headmaster, the Head of the Prep School, the Deputy Head and three Assistant Heads of the Senior School, the Deputy Head of the Prep School, the Head of Sixth Form, the Dean of the College, the Bursar, plus the governors) received aggregate remuneration of £967,680 (2020: £942,247).

6a. EXPENDITURE - Analysis of total resources expended

Charitable activities
Teaching
Teaching support costs
Premises maintenance
Administration costs
Depreciation
Restricted fund activity
Cost of generating
funds
Fund raising costs
Bank charges
Finance lease interest
Total		 Staff
Costs
£
5,788,969
902,881
188,059
604,455
-
-
7,484,364
-
-
-
-
£ 7,484,364		 Other
£
328,327
256,786
1,523,699
506,244
-
30,819
2,645,875
-
6,220
612
6,832
£ 2,652,707		 Depreciation
£
-
-
-
-
674,546
-
674,546
-
-
-
-
£
674,546		 Total
2021
£
6,117,296
1,159,667
1,711,758
1,110,699
674,546
30,819
10,804,785
-
6,220
612
6,832
£10,811,617		 Total
2020
£
6,220,527
1,244,763
1,615,529
1,153,419
614,460
39,590
10,888,288
6,163
8,443
510
15,116
£10,903,404

Teaching support costs include payments to the Brothers for working at the College.

Included within support costs are governance costs of £20,258 (2020: £21,363).

Page 27

ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

6b. COMPARATIVE ANALYSIS OF TOTAL RESOURCES EXPENDED:

Charitable activities
Teaching
Teaching support costs
Premises maintenance
Administration costs
Depreciation
Restricted fund activity
Cost of generating funds
Fund raising costs
Bank charges
Finance lease interest
Total		 Staff
Costs
£
5,888,063
1,000,257
168,346
522,343
-
-
7,579,009
-
-
-
-
£ 7,579,009		 Other
£
332,464
244,506
1,447,183
631,076
-
39,590
2,694,819
6,163
8,443
510
15,116
£ 2,709,935		 Depreciation
£
-
-
-
-
614,460
-
614,460
-
-
-
-
£
614,460		 Total
2020
£
6,220,527
1,244,763
1,615,529
1,153,419
614,460
39,590
10,888,288
6,163
8,443
510
15,116
£10,903,404		 Total
2019
£
6,053,955
1,388,912
1,746,663
1,191,953
631,669
44,633
11,057,785
8,897
10,332
45,378
64,607
£11,122,392

6c. NET INCOMING RESOURCES

These are stated after charging:

Unrestricted funds
Depreciation
Operating lease rentals
Fees payable to auditors:
Current period audit fee
Teachers’ Pension audit		 2021
£
674,546
38,589
17,910
-		 2020
£
614,460
38,589
17,370
875

Page 28

ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

7. FIXED ASSETS

Cost
At 1 September 2020
Transfer
Additions
Disposals
At 31 August 2021
Depreciation
At 1 September 2020
Charge for the year
Disposals
At 31 August 2021
Net Book Value
At 31 August 2021
At 31 August 2020		 Land and
Buildings
£
13,715,975
-
3,346
-
13,719,321
5,081,873
305,762
-
5,387,635
£ 8,331,686
£ 8,634,102		 Motor
Vehicles
£
164,851
-
-
-
164,851
144,592
7,378
-
151,970
£
12,881
£
20,259		 Plant and
Equipment
£
1,677,481
-
108,358
-
1,785,839
1,385,270
124,645
-
1,509,915
£
275,924
£
292,211		 Fixtures and
Fittings
£
2,870,007
-
682,389
-
3,552,396
1,633,331
236,761
-
1,870,092
£ 1,682,304
£ 1,236,676		 Assets under
the course of
construction
£
56,583
-
4,959
-
61,542
-
-
-
-
£
61,542
£
56,583		 Total
2021
£
18,484,897
-
799,052
-
19,283,949
8,245,066
674,546
-
8,919,612
£ 10,364,337
£ 10,239,831

Motor vehicles includes items with a net book value of £12,882 ( 2020: £20,340) held under finance lease. Amortisation of £4,068 ( 2020: £3,390) is included within the depreciation charge and interest of £612 ( 2020: £510) was paid in relation to the lease during the year.

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

8. DEBTORS

Fees debtors
Other debtors
Prepayments and accrued income
9.
CREDITORS:Amounts falling due within one year
Finance Lease
Fees in advance
Trade creditors
Other creditors
Social security & other taxes
Accruals
Deposits repayable
Deferred income (fees in advance)
Brought forward
Utilised in the period
Deferred in the period
Carried forward
10. CREDITORS:Amounts falling due after one year
Finance lease
The finance lease is repayable as follows:
Within one year
Within two to five years		 2021
£
14,840
10,916
111,611
£
137,637

2021
£
4,068
1,353,083
165,918
39,879
151,293
525,223
704,750
£ 2,944,214
929,167
(929,167)
1,353,083
£ 1,353,083
2021
£
£
8,814

2021
£
4,068
8,814
£
12,882		 2020
£
53,969
64,772
91,867
£
210,608
2020
£
4,068
929,167
276,908
119,197
153,726
388,156
663,400
£ 2,534,622
1,167,585
(1,167,585)
929,167
£
929,167
2020
£
£
12,882
2020
£
4,068
12,882
£
16,950

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

11. ANALYSIS OF MOVEMENT IN NET DEBT

Cash at bank and in hand
Finance leases entered into
 As at 1
September
2020
Movement
£
£
4,934,573
823,840
(16,950)
4,068
£ 4,917,623
£
827,908		 At 31
August
2021
£
5,758,413
(12,882)
£ 5,745,531

12a. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Restricted Funds
Unrestricted Funds		 Fixed
Assets
£
-
10,364,337
10,364,337		 Net Current
Assets
£
152,509
2,801,268
2,953,777		 Non-Current
Liabilities
£
-
(8,814)
(8,814)		 Total
2021
£
152,509
13,156,791
13,309,300

12b. COMPARATIVE ANALYSIS OF NET ASSETS BETWEEN FUNDS

Restricted Funds
Unrestricted Funds
ESTRICTED FUNDS
St Francis School
Shitima School
Development Fund
Charism Fund
Sports Fund
BOSH Developing World Fund
Bursary Fund
CCF		 Fixed
Net Current
Assets
Assets
£
£
-
163,073
10,239,831
2,449,371
10,239,831
2,612,444
Balance at
1 September
2020
Incoming
resources
£
£
4,990
300
2,521
-
53,462
-
25,000
-
7,701
238
6,420
6,040
60,742
11,111
2,237
2,566
£
163,073
£ 20,255		 Non-Current
Liabilities
£
-
(12,882)
(12,882)
Amounts
expended
£
(5,290)
-
(5,936)
(4,043)
-
-
(14,693)
(857)
£
(30,819)		 Total
2020
£
163,073
12,676,320
12,839,393
Balance at
31 August
2021
£
-
2,521
47,526
20,957
7,939
12,460
57,160
3,946
£
152,509

13a. RESTRICTED FUNDS

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. ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

13a. RESTRICTED FUNDS (continued)

St Francis School is based in Malole, Zambia and funds are provided by an annual levy on the parents at the College for equipment for the school.

Shitima School is based in Kabwe, Zambia and funds have been raised for specific building projects and to cover day to day running costs. This amount is held by the school as a custodian on behalf of the Brothers of the Sacred Heart.

The Development Fund was set up to enable parents to support a range of teaching and learning projects and extra-curricular activities benefitting the boys.

The Charism Fund represents funds donated to support the development of and training in the charism of the Brothers of the Sacred Heart at St Columba’s College.

The Sports Fund relates to funds raised by the school community via the annual Sportsman’s Dinner to support the sporting activities undertaken by the school.

The BOSH Developing World Fund holds funds raised via a voluntary annual levy on Columban parents to support the work of the Brothers of the Sacred Heart in less developed countries.

The Bursary Fund is intended to be used to provide assistance to those parents whose income is such that they would not otherwise be able to pay full fees.

The Combined Cadet Force (CCF) Fund relates to funds held for the sole use of the CCF contingent.

13b. COMPARATIVE RESTRICTED FUNDS

St Francis School
Shitima School
Development Fund
Charism Fund
Edgar Fund
Sports Fund
BOSH Developing World Fund
Bursary Fund
CCF		 Balance at
1 September
2019
£
9,980
8,876
47,322
-
1,103
4,449
-
51,813
2,237
£
125,780		 Incoming
resources
£
-
42
6,140
25,000
-
16,393
6,420
22,888
-
£ 76,883		 Amounts
expended
£
(4,990)
(6,397)
-
-
(1,103)
(13,141)
-
(13,959)
-
£
(39,590)		 Balance at
31 August
2020
£
4,990
2,521
53,462
25,000
-
7,701
6,420
60,742
2,237
£
163,073

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

14a. UNRESTRICTED FUNDS

Unrestricted General Fund
Designated funds:
Hardship Fund		 Balance at
1 September
2020
£
12,582,768
93,552
£ 12,676,320		 Incoming
resources
£
11,250,410
10,859
£ 11,261,269		 Amounts
expended
£
(10,745,396)
(35,402)
£ (10,780,798)		 Balance at
31 August
2021
£
13,087,782
69,009

£ 13,156,791

The Hardship Fund is intended to be used to support parents who have children at the College and have encountered financial hardship through circumstances outside their direct control, such as bereavement. The College aims to support the pupil through to the end of his current key stage of education.

14b. COMPARATIVE UNRESTRICTED FUNDS

Unrestricted General Fund
Designated funds:
Hardship Fund		 Balance at
1 September
2019
£
11,940,621
89,623
£ 12,030,244		 Incoming
resources
£
11,492,002
17,888
£ 11,509,890		 Amounts
expended
£
(10,849,855)
(13,959)
£(10,863,814)		 Balance at
31 August
2020
£
12,582,768
93,552
£ 12,676,320
15.
RECONCILIATION OF THE CASHFLOW
Net cash generated from operating activities
Net incoming resources
Interest receivable
Interest payable on finance lease
Depreciation charged
Decrease in debtors
Increase in creditors
(Increase)/decrease in stock		 Year Ended
31 August
2021
£
469,907
(19,327)
612
674,546
72,971
76,174
(56)
£ 1,274,827		 Year ended
31 August
2020
£
683,369
(42,623)
510
614,460
5,306
32,694
6,463
£ 1,300,179

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

16. PENSION

As explained in the accounting policies, the company contributed to two pension schemes on behalf of its employees during the year.

Teachers' superannuation scheme

The College participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £1,001,272 (2020: £1,027,293) and at the year-end £118,548 (2020: £120,328) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%.

The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However, the assumptions were considered and set by the Department for Education prior to the ruling in the ‘McCloud/Sargeant case’. This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions including the Teachers’ Pensions.

On 27 June 2019 the Supreme Court denied the Government permission to appeal the Court of Appeal’s judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Court’s decision and has said it will engage fully with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remedied. The government announced on 4 February 2021 that it intends to proceed with a deferred choice underpin under which members will be able to choose either legacy or reformed scheme benefits in respect of their service during the period between 1 April 2015 and 31 March 2022 at the point they become payable.

The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal’s ruling in the McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020, and a consultation was launched on 24 June on proposed changes to the cost control mechanism following a review by the Government Actuary. The consultation closed to response on 19 August 2021 and the Government is currently analysing the responses.

In view of the above rulings and decisions the assumptions used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario, a valuation prepared in accordance with revised benefits and suitably revised assumptions would yield different results than those contained in the Actuarial Valuation.

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

16. PENSION (continued)

Until the cost cap mechanism review is completed it is not possible to conclude on any financial impact or future changes to the contribution rates of the TPS. Accordingly no provision for any additional past benefit pension costs is included in these financial statements.

Non-Teaching Staff

The company contributes on a money purchase basis to a group personal pension scheme with Standard Life

Contributions totalling £76,770 ( 2020 : £75,777 ) were payable to this scheme for the year.

17. OPERATING LEASE COMMITMENTS

Plant and Machinery:
Within one year
Within two to five years
Total commitments		 2021
£
38,589
34,461
73,050		 2020
£
38,589
73,050
111,639

18. RELATED PARTY TRANSACTIONS

The Charity has three trustees in common with the Brothers of the Sacred Heart, Brother Ronald Hingle, Brother Ivy LeBlanc and Brother Joseph Holthaus. During the year ended 31 August 2021, a number of payments were made to the Brothers of the Sacred Heart Charity. The following payments have been made during the period:

19. CAPITAL COMMITMENTS

There were £nil capital commitments contracted but not provided for in the financial statements ( 2020: £nil ).

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ST COLUMBA’S COLLEGE AND PREPARATORY SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

20. FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS
Financial assets measured at amortised cost
Financial liabilities measured at amortised cost
Interest income and expense:
Total interest income for financial assets held at amortised cost
Total interest expense for financial liabilities held at amortised
cost		 2021
£
5,784,169
1,448,652
19,327
612		 2020
£
5,053,314
1,464,611
42,623
510

21. COMPANY STATUS

The Charity is a company limited by guarantee. The members of the company are the Provincial and members of the Provincial Council of the Order. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

22. COMPARATIVE 2020 STATEMENT OF FINANCIAL ACTIVITIES

INCOME FROM:
Charitable activities
Grants and donations
Government CJRS income
Investment income
Total
EXPENDITURE ON:
Raising funds
Charitable activities
Total
Net income
Total funds brought forward
Total funds carried forward		 Unrestricted funds
£
11,148,705
118,768
199,794
42,623
11,509,890
15,116
10,848,698
10,863,814
646,076
12,030,244
£ 12,676,320		 Restricted
funds
£
-
76,883
-
-
76,883
-
39,590
39,590
37,293
125,780
£
163,073		 Total funds
2020
£
11,148,705
195,651
199,794
42,623
11,586,773
15,116
10,888,288
10,903,404
683,369
12,156,024
£ 12,839,393

Page 36