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2021-08-31-accounts

Contents Pages
Report ofthe board of governors incorporating the Strategic Report 1-11
Independent auditors' report 12 - 14
Consolidated statement offinancial activities 15 - 16
Group balance sheet 17
Company
balance sheet		 18
Consolidated cash flow statement 19
Notes to the financial statements 20-31

YEAR ENDED 31AUGUST 2021 YEAR ENDED 31AUGUST 2021 YEAR ENDED 31AUGUST 2021 ZOZO
Unrestricted funds: Restricted funds: Total Total
General Designated Restricted
Incnme		 Capital
(endnmment)
E E E E
INCOME Note
Income from charitable activities
School fees 2a) 11,505,579 (112,200) (14,025) 11,379,354 10,699,049
Ancillary
income		 162,283 162,283 318,856
Income from other trading activities 107,125 14,550 121,675 123,932
Investment
income		 2,305 3,895 1,771 437 8,408 17,676
Donations
and legacies		 2,621 20,486 27,500 556 51,163 90,346
Other 2b) 169,844 35,114 2,443 207,401 354,627
Totallncome 11,949,757 (52,705) 32,239 993 11,930,284 11,604,486
EXPENDITURE
Charitable
activities
Teaching costs 7,063,574 190 7,063,764 7,033,254
Welfare costs 389,873 389,873 365,114
Premises costs 1,643,916 437,557 2,081,473 2,113,114
Grants, awards and prizes 10,939 8,415 15,451 34,805 43,950
Support costs 1,560,581 1,560,581 1,561,352
Other 112,473 112,473 79,049
Total Expenditure 10,781,356 8,415 15,641 437,557 11,242,969 11,195,833
Net gains/(losses) on investments 39,041 10,990 10,745 60,776 (2,414)
NET INCOME/(EXPENDITURE) FOR
THE YEAR 1,168,401 (22,079) 27,588 (425,819) 748,091 407,239
Transfers between funds (25,000) 25,000
NET MOVEMENT IN FUNDS FOR
THE YEAR 1,168,401 (47,079) 52,588 (425,819) 748,091 407,239
Reconciliation
offunds
Total funds brought
forward at		 6,626,522 972,798 111,222 16,747,833 24,458,375
1September
Total funds carried forward at
31August		 7,794,923 925,719 163,810 16,322,014 25,206,466 24,458,375

YEAR ENDED 31AUGUST YEAR ENDED 31AUGUST 2020
Unrestricted funds: Restricted funds: Total
Generol Designated Restricted
income		 Capital
lendovmenri
INCOME Note
Income from charitable activities
School fees 2a) 10,814,288 (101,214) (14,025) 10,699,049
Ancillary
income		 318,856 318,856
Income from other trading activities 103,073 20,859 123,932
Investment
income		 11,064 3,886 2,277 449 17,676
Donations and legacies 13,862 70,733 5,000 751 90,346
Other 2b) 309,613 41,695 3,319 354,627
Total Income 11,570,756 15,100 17,430 1,200 11,604,486
EXPENDITURE
Charitable
activities
Teaching costs 7,033,254 7,033,254
Welfare co'sts 365,114 365,114
Premises costs 1,670,557 5,000 437,557 2,113,114
Grants, awards and prizes 10,644 11,127 22,179 43,950
Support costs 1,561,352 1,561,352
Other 79,049 79,049
Total Expenditure 10,719,970 11,127 27,179 437,557 11,195,833
Net gains/(losses) on investments 587 387 (2,388) (1,414)
NET INCOME/(EXPENDITURE) FOR
THE YEAR 850,786 4,560 (9,36Z) (438,745) 407,239
Transfers between funds
NET MOVEMENT IN FUNDS FOR
THE YEAR 850,786 4,560 (9,362) (438,745) 407,239
Reconciliation
of		 funds
Total funds brought
September		 forward at 1 5,775,736 968,238 120,584 17,186,578 24,051,136
Total funds carried forward at 31August 6,626,522 972,798 111,222 16,747,833 24,458,375

Note 2021
f		 2020f
Fixed assets
Intangible
assets		 6 234,088
Tangible assets 7 24,942,761 24,511,188
Investments 8 674,237 210,542
25,851,086 24,721,730
Current assets
Stock 9 17,960 21,365
Debtors 10 2,992,717 2,757,336
Cash at bank and in hand 3,709,472 2,776,922
6,720,149 5,555,623
Creditors: Amounts falling due within one year 11 (6,498,925) (5,012,504)
Net current assets 221,224 543,119
Total assets less current liabilities 26,072,310 25,264,849
Creditors: Amounts falling due after more than one year 12 (865,844) (806,474)
Net assets 25,206,466 24,458,375
Funds
Unrestricted funds:
General 14 7,794,923 6,626,522
Designated 17 925,719 972,798
Restricted funds:
Restricted income 16 163,810 111,222
Capital (endowment) 15 16,322,014 16,747,833
25,206,466 24,458,375

Note 2021
f		 2020f
Fixed assets
Tangible assets 7 24,917,144 24,511,188
investments 8 1,048,258 210,542
25,965,402 24,721,730
Current assets
Stock 9 17,960 21,365
Debtors 10 2,931,668 2,757336
Cash at bank and in hand 3,414,122 2,776,922
6,363,750 5,555,623
Creditors: Amounts falling due within one year 11 (6,264,900) (5,012,504)
Net current assets 98,850 543,119
Total assets less current liabilities 26,064,252 25,264,849
Creditors: Amounts falling due after more than one year 12 (865,844) (806,474)
Net assets 25,198,408 24,458,375
Funds
Unrestricted funds:
General 14 7,786,865 6,626,522
Designated 17 925,719 972,798
Restricted funds:
Restricted income 16 163,810 111,222
Capital (endowment) 15 16,322,014 16,747,833
25,198,408 24,458,375

FOR THE YEAR ENDED 3 1AUGUS T 2021
2021 2020
Note
Net cash inflow from operating activities 18 2,321,548 1,329,295
Returns on investments and servicing offinance
Investment
interest and		 dividends received 6,033 6,275
Bank and other interest received 2,375 11,401
Bank charges paid (7,035) (10,422)
Loan interest
paid
Net cash inflow from returns on investments and servicing offinance 1,373 7,254
Capital expenditure
and		 financial investment
Purchases oftangible fixed assets (768,619) (769,039)
Purchase ofintangible
assets		 (251,118)
Purchase ofinvestments (402,919)
Sales oftangible fixed assets 1,600 300
Net cash oufflow from capital expenditure and financial investment (1,421,056) (768,739)
Financing
Additional
endowments		 received 993 1,200
Repayment
of borrowing
Advance fees:
Receipts from advance fees 86,575 59,287
Advance fees utilised (56,883) (207,352)
Net cash inflow/(oufflow) from financing 30,685 (146,865)
Increase in cash 19 932,550 420,945

2 a) FEES RECEIVABLE a) FEES RECEIVABLE 2021 2020
Tuition fees E 5
Senior School 10,318,821 10,198,609
Junior School 2,529,869 2,430,337
Nursery
and infant		 154,192
13,002,882 12,62B,946
Less:
Bursaries, scholarship and other remissions (1,773,758) (2,099,333/
Net tuition fees 11,229,124 10,529,613
Catering income 150r230 169,436
11,379,354 10,699,049
b) OTHER INCOME 2021 2020
E 5
StJohn's Hospital Educational Foundation 37,557 45,014
Coronavirus
Job Retention Scheme Grant		 169,844 309,613
207,401 354,627
The coronavirus job retention scheme is a government funded grant in respect ofemployees who have been furloughed
due tothe pandemic. The government have provided grants of up to 80%ofan employee's wage capped at E2,500 per
month.
3 INCOME FROM INVESTMENTS 2021 2020
E 5
UK Listed investments 6,033 6,275
4 STAFF COSTS 2021 2020
F. 5
Wages and salaries 6,135,287 5,998,356
Social security costs 646,193 628,30B
Other pension costs 1,196,079 1,116,181
7,977,559 7,742,845
The average number ofemployees in the year was: 2021 2020
number FTE number FTE
Teaching and teaching support staff 166 119 153 108
Others 40 35 39 37
206 154 192 145
2021 2020
E 5
A gency staff 186,291 156,607

4
STAFF COSTS (continued)		 4
STAFF COSTS (continued)		 4
STAFF COSTS (continued)
The number ofemployees whose emoluments (including employer's pension contributions) exceeded E60,000 were;
2021 2020
number number
E60,001 - E70,000 17 18
E70,001 —E80,000 1 2
E80,001 —E90,000 3 1
E90,001 —E100,000 1
E110,001 - E120,000
E120,001 —E130,000
E150,001 —E160,000
E170,001 - E180,000
Number
with retirement		 benefits accruing in defined contribution schemes, 2 1
Of which the contributions amounted to: 37,346 29,514
Number
with retirement		 benefits accruing in defined benefit schemes: 22 22
Of which the contributions amounted to: 304,076 282,395
5
ANALYSIS OF TOTAL GROUP RESOURCES EXPENDED
Staff costs Other Depreciation Total 2020
Charitable
activities		 E E E E E
Teaching costs 6,633,096 430,668 7,063,764 7,033,254
Welfare costs 34,700 355,173 389,873 365,114
Premises costs 571,053 913,627 596,793 2,081,473 2,113,114
Grants, awards and prizes 34,805 34,805 43,950
Supportcosts 751,897 369,383 439,301 1,560,581 1,561,352
Other 112,473 112,473 79,049
11,242,969 11,195,833
Total resources expended includes the following: 2021 2020
E E
Auditors'
remuneration
Audit ofthe financial statements of the group and company 7,398 7,600
Audit ofthe financial statements of the company's subsidiaries 3,000
Operating
lease rentals		 - plant gr machinery 8,237 8,237
6
INTANGIBLE FIXED ASSETS		 Goodwill Total
Group
Cost
At 1September 2020
On acquisition
of The		 New School 175,000 175,000
Additions 237,358 237,358
At 31August 2021 412,358 412,358
Accumulated
amortisation
At 1September 2020
On acquisition
of The		 New School 161,240 161,240
Charge for the year 17,030 17,030
At 31August 2021 178,270 178,270
Net book value
At 31August 2021 234,088 234,088
At 31August 2020

7 TANGIBLE FIXEDASSETS TANGIBLE FIXEDASSETS
Group Freehold land
and buildings		 Motor
vehicles		 Fixtures,
fittings and
equipment		 Assets in the
course of
consrl'Uctlon		 Total
E
Cost
At 1September 2020 29,225,155 317,967 3,970,367 603910 34,117,399
On acquisition 8,393 8,393
Additions 375,000 596,736 525,812 1,497,548
Transfers 1,098,013 (1,098,013)
Disposals (79,440) (31,709) (111,149)
At 31August 2021 30,698,168 317,967 4,496,056 35,512,191
Accumulated
depreciation
At 1September 2020 7,138,473 259,093 2,208,645 9,606,211
On acquisition 6,465 6,465
Charge forthe year 596,793 22,901 416,400 1,036,094
Eliminated
on disposals (79,340) (79,340)
At 31August 2021 7,735,266 281,994 2,552,170 10,569,430
Net book value
At 31August 2021 22,962,902 35,973 1,943,886
At 31August 2020 22,086,682 58,874 1,761,722 603,910 24,511,188
Company Freehold land
and buildings		 Motor
vehicles		 Fixtures,
fittings and
equipment		 Assets in the
course of
cons'tl'ection		 Total
E E
Cost
At 1September 2020 29,225,155 317,967 3,970,367 603,910 34,117,399
Additions 375,000 572,276 525,812 1,473p088
Transfers 1,098,013 (1,098,013)
Disposals (79,440) (31,709) (111,149)
At 31August 2021 30,698,168 317,967 4,463,203 35,479,338
Accumulated
depreciation
At 1September 2020 7,138,473 259,093 2,208,645 9,606,211
Charge forthe year 596,793 22,901 415,629 1,035,323
Eliminated
on disposals (79,340) (79,340)
At 31August 2021 7,735,266 281,994 2,544,934 10,562,194
Net book value
At31August 2021 22,962,902 35,973 1,918,269 24,917,144
At 31August 2020 22,086,682 58,874 1,761,722 603,910 24,511,188

8
INVESTMENTS		 Listed Cash
Group investments investments Total
f f f
Valuation
At 1September 2D20 208,482 2,060 210,542
Additions 402,919 402,919
Revaluations 60,776 60,776
Investment
ofcash		 (1,745) 1,745
At 31August 2021 670,432 3,805 674,237
Rathbones
holds a		 porffolio ofglobal investments amounting to 63%ofthe total investment portfolio. Nine listed investment
in
COIF accounts represents 31%ofthe total portfolio and and one investment in CAFlnvest
represents		 6%ofthe total porffolio.
Listed investments are valued at market valuation on the UK Stock Exchange. The historical cost ofthese investments is as
2021 ZOZO
f f
Listed investments 433,677 33,589
Company Subsidiary
undertakings		 Listed
investments		 Cash
investments		 Total
Valuation f f E
At 1September 2020 208,482 2,060 210,542
Additions 374,021 402,919 776,940
Revaluations 60,776 60,776
Investment
of		 cash (1,745) 1,745
At 31August 2021 374,021 670,432 3,805 1,048,258
Rathbones
holds a		 portfolio ofglobal investments amounting to 63%ofthe total investment portfolio. Nine listed investment
in
COIF accounts represents 31%ofthe total portfolio and and one investment in CAFlnvest represents 6%ofthe total porffolio.
Listed investments are valued at market valuation on the UK Stock Exchange. The historical cost ofthese investments is as
follows:
2021 2020
E f
Listed investments 433,677 33,589
Subsidiaries
Details ofthe charitable company's subsidiaries at 31August 2021are as follows:
Class ofShares
Name ofundertaking Registered Office %
held		 Held Direct
Yew Tree Ha II Limited Exeter School, Victoria Park Road, Exeter, Devon Ordinary 100
The investment
in		 subsidiary
undertaking
is stated		 at cost.
9
STOCK - Group		 and company 2021
E		 2020f
Raw materials 3,336 5,148
Goods for resale 14,624 16,217
17p960 21,365

10 DEBTORS Group Company
2021 2020 2021 2020
E E 6 6
Trade debtors 2,449,229 2,324,238 2,363,020 2,324,238
Amounts
owed		 by group undertakings 30,845
Other debtors 214,552 141,552 214,552 141,552
Prepayments
and		 accrued income 328,936 291,546 323p251 291,546
2,992,717 2, 757,336 2,931,668 2,757,336
11 CREDITORS: amounts falling due within one ye Group Company
2021 2020 2021 2020
E E E E
Trade creditors 714,804 396,562 696,092 396,562
Other creditors 266,663 246,996 206,348 246,996
Advance
payment		 ofschool fees 164,775 146,658 164,775 146,658
Accruals and deferred income 5,209,219 4,089,843 5,054,221 4,089,843
Pension costs 143,464 132,445 143,464 132,445
6,498,925 5,012,504 6,264,900 5,012,504
12 CREDITORS: amounts falling due after more th, Group Company
2021 2020 2021 2020
E E E f
Trade creditors 255,730 207,935 255,730 207,935
Advance
payment		 ofschool fees 610,114 598,539 610,114 598,539
865 844 806474 865,844 806,474
2021 2020
Ofthe amounts falling due after more than one year, the following amounts E E
are repayable after more than five years: 238,732 209,504

13 COMMITMENTS - Group and company 2021 2020
E
Future minimum
lease payments		 under non-cancellable operating leases:
within one year 6,947 8,237
between two and five years 5,597 12,513

14 ALLOCATION OF THE CHARITY NET ASSETS OF THE CHARITY NET ASSETS OF THE CHARITY NET ASSETS OF THE CHARITY NET ASSETS
Unrestricted funds: Restricted funds: Total
Group General
f		 Designated Restricted
income
f		 Capital
(endowment)
f		 f
Intangible
assets		 234,088 234,088
Tangible assets 8,829,973 16,112,788 24,942,761
Investments 2,059 416,126 116,066 139,986 674,237
Stock 17,960 17,960
Debtors 2,992,541 176 2,992,717
Cash at bank and in hand 3,083,071 509,593 47,744 69,064 3,709,472
Creditors: Amounts falling due
within one year (6,498,925) (6,498,925)
Creditors: Amounts falling due
after more than one year (865,844) (865,844)
Net assets 7,794,923 925,719 163,810 16,322,014 25,206,466
Unrestricted funds: Restricted funds: Total
Company General
f		 Designated Restricted
income
f		 Capital
(endowment)
f		 f
Tangible assets 8,804,356 16,112,788 24,917,144
Investments 376,080 416,126 116,066 139,986 1,048,258
Stock 17,960 17,960
Debtors 2,931,492 176 2,931,668
Cash at bank and in hand 2,787,721 509,593 47,744 69,064 3,414,122
Creditors: Amounts falling due
within one year (6,264,900) (6,264,900)
Creditors: Amounts falling due
after more than one year (865,844) (865,844)
Net assets 7,786,865 925,719 163,810 16,322,014 25,198,408
15 CAPITAL(ENDOWMENT) FUNDS At 15eptnmber Incoming Resources Transfers a A't 31Angus't
2020 resources expended rnsenmens
carne		 2021
Group and Company f f f f
Freehold property 16,550,345 (437,557) 16,112,788
Hardship
funds		 123,142 557 4,664 128363
Prize funds 7,189 719 7,908
Specific funds 67,157 436 5,362 72,955
16,747,833 993 (437,557) 10,745 16,322,014

2021 2020
E
Net Income/(Expenditure) for the year before investment gains and losses 687,315 408,653
Depreciation 1,036,094 1,037,847
Amortisation
ofgoodwill		 17,030
(Profit)/Loss
on disposal offixed assets		 30,209 16,700
Non operating
cashflows		 eliminated:
Endowment
donations		 (993) (1,200)
Investment
interest
and dividends		 receivable (6,033) (6,275)
Bank and other interest receivable (2,375) (11,401)
Bank charges payable 7,035 10,422
(Increase)/decrease
in stock		 3,405 (1,473)
Increase
in debtors		 (235,381) (149,070)
Increase
in creditors		 785,242 25,092
2,321,548 1,329,295

19 RECONCILIATION
OF NET CASH FLOW TO MOVEMENT		 IN NET FUNDS 2021 2020
E E
Increase/(Decrease)
in cash in the period		 932,550 420,945
932,550 420,945
Movement
in net funds
in the period		 932,550 420,945
Net funds at 1September 2020 2,776,922 2,355,977
Net funds at 31August 2021 3,709,472 2,776,922
20 ANALYSIS OF CHANGES
IN NET FUNDS		 At 1September
2020		 Cashflow At 31August
2021
E E
Cash at bank and in hand 2,776,922 932,550 3,709,472
2,776,922 932,550 3,709,472
21 RELATED PARTY TRANSACTIONS