## 



|GOVERNORS||Mr A.J.Cross LLB (Hans) (Chairman)|Mr A.J.Cross LLB (Hans) (Chairman)|Mr A.J.Cross LLB (Hans) (Chairman)|Mr A.J.Cross LLB (Hans) (Chairman)||
|---|---|---|---|---|---|---|
|||Mr I.G. Boumphrey|||||
|||Mr M.R. Cashin|MA||||
|||Mr A.D.Goatee MA, JP|||||
|||Mrs L.A.C. Dodd||BA|(Hons) Chartered|FCSI|
|||Mr M.S.Fumiss|||||
|||Mrs J.L Greensmith|||CBE, DL||
|||DrJ.K.Moore OBE, FRCA, MBA|||||
|||Mr D.I.Pottinger|||||
|||Mr E.N. Rice FRICS|||||
|||Mr W.D.C. Rushworth|||BA||
|HEADMASTER||P.R.Vicars MA|||||
|SECRETARY/BURSAR||M.J.Turner<br>MA|||||
|REGISTERED|OFFICE|The Lodge|||||
|||58 Beresford Road|||||
|||Oxton|||||
|||Wirral|||||
|||CH43 2JD|||||
|BANKERS||National<br>Westminster|||Bank Pic||
|||6 Grange<br>Road|West||||
|||Charing<br>Cross|||||
|||Birkenhead|||||
|||CH41 4DF|||||
|AUDITORS||McLintocks<br>(NW)||Limited|||
|||46 Hamilton<br>Square|||||
|||Birkenhead|||||
|||CH41 5AR|||||
|SOLICITORS||Jolliffe 8Co LLP|||||
|||6StJohn Street|||||
|||Chester|||||
|||CH1 1DA|||||
|||Bermans<br>LLP|||||
|||Lancaster<br>House|||||
|||Tithebarn<br>Street|||||
|||Mercury<br>Court|||||
|||Liverpool|||||
|||L2 2QP|||||
|INVESTMENT|MANAGERS|Rathbone<br>Investment|||Management||
|||Port of Liverpool||Building|||
|||Pier Head|||||
|||Liverpoo<br>I|||||
|||L3 1NW|||||





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|||Unresbicted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|
|||funds|funds|funds|2020|2019|
||Note|E|E|E|K|E|
|INCOME AND ENDOWMENTS<br>Donations<br>and Legacies|FROM<br>2|190,825|15,214||206,039|66,651|
|Charitable<br>activities<br>Fees receivable<br>Catering<br>income<br>Activity courses<br>School trips<br>Other income|3|8,226,714<br>438,989<br>96,529<br>24,947<br>100,204|||8,226,714<br>438,989<br>96,529<br>24,947<br>100,204|7,800,274<br>553,975<br>91,316<br>278,439<br>135,252|
|Other trading<br>activities<br>Investment<br>income<br>Other income|4<br>5|52,791<br>177,769<br>78,662|10,901<br>3,201|433|63,692<br>181,403<br>78,662|52,263<br>182,658<br>128,759|
|Total||9,387,430|29,316|433|9417 179|9289587|
|EXPENDITURE<br>ON|||||||
|Raising funds|6|108,709|||108,709|110,857|
|Charitable<br>activities<br>Grants awards<br>and prizes<br>Teaching costs<br>Catering<br>and welfare<br>Premises<br>Activity courses<br>School trips||2,832<br>6,429,199<br>691,706<br>1,432,382<br>104,165<br>29,206|16,622|1,145|3,977<br>6,445,821<br>691,706<br>1,432, 382<br>104,165<br>29,206|4,346<br>6,034,047<br>854,248<br>1,385,939<br>76,543<br>281,073|
|Total|7|8,798,199|16,622|1,145|8,815,966|8,747,053|
|Net gains/(losses)<br>on investments||238,390||610|239,000|86,787|
|Net income carried forward||827,621|12.694|(102)|840,213|629,321|





## 

|||Unre stricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|
||Note|funds<br>E|funds<br>F|f~un s<br>E|2020|2019f|
|Net income brought forward||827,621|12,694|(102)|840,213|629,321|
|Transfer between funds||46,831|(46,831)||||
|||874,452|(34,137)|(102)|840,213|629,321|
|Actuarial<br>(losses) gains on defined<br>benefit pension scheme|18|88,000|||88,000|(420,000)|
|Net movement<br>in funds||962,452|(34,137)|(102)|928,213|209,321|
|RECONCILIATION<br>OF FUNDS|||||||
|Total funds brought forward||15,510,750|151,369|28,248|15,690,367|15,481,046|
|TOTAL FUNDS CARRIED FORWARD||16,473,202|117,232|28,146|16,618,580|15,690,367|





## 

|BALANCESHEET AT 3|1 A|UGUST 2020||||||
|---|---|---|---|---|---|---|---|
||||||2020|2019||
|||||~rou|Cot~an|~Grou|~Com<br>an|
||||Note|6|6|E|E|
|FIXEDASSETS<br>Tangible fixed assets<br>Investments|||12<br>13|11,118,021 <br>5,372,274|10,932,197<br>28,146|11,073,882 <br>4,994,089|10,833,795<br>27,536|
|||||16,490,295|10,960,343|16,067,971|10,911,331|
|CURRENT ASSETS||||||||
|Debtors|||14|532,744|1,047, 252|553,492|941,695|
|Cash at bank and<br>in hand||||2,588,552|2,433,779|2,218,085|2,149,417|
|||||3,121,296|3,481,031|2,771,577|3,091,112|
|CREDITORS:<br>amounts<br>within one year|falling due||15|(2,582,011) (2,571,322)||(2,693,181)|(2,681,699)|
|Net current assets (liabilities)||||539,285|909,709|78,396|409,413|
|NET ASSETS EXCLUDING PENSION LIABILITY||||17,029,580|11,870,052|16,146,367|11,320,744|
|Defined benefit pension|scheme asset (liability)||18|(411,000)<br>(411,000)||(456,000)|(456,000)|
|NET ASSETS INCLUDING||PENSION||||||
|(LIABILITIES)/ASSETS||||16,618,580|11,459,052|15,690,367|10,864,774|
|FUNDS||||||||
|Unrestricted:<br>general<br>pension reserve|||18|16,884,202 11,841,906<br>(411,000)<br>(411,000)||15,966,750 <br>(456,000)|11,292,496<br>(456,000)|
||||16|16,473,202|11,430,906|15,510,750|10,836,496|
|Restricted|||16|117,232||151,369||
|Endowment|||16|28,146|28,146|28,248|28,248|
|TOTAL FUNDS||||16,618,580|11,459,052|15,690,367|10,864„744|



## 




|B<br>ENHE<br>D<br>CHOOL<br>ONSOLID<br>ED CASH|OW STAT|ENT FOR 'T|YEAR EN|D 31AUG|2020||
|---|---|---|---|---|---|---|
|||||2020||2019|
|||Note||||E|
|Cash inflow from operating<br>activities:<br>Cash generated<br>from operations||||683,978||959,170|
|Net cash provided<br>by (used in) operating<br>activities||||683,978||959,170|
|Cash flows from investing|activities:||||||
|Dividends<br>interest and rents|from investments|||181,403||182,658|
|Proceeds from sale offixed|asset investments|||924,827||747,278|
|Proceeds from sale offixed|assets||||||
|Purchase of tangiblefixed<br>assets<br>Purchase offixed asset investments||||(352,701)<br>(1,156,605)||(359,308)<br>(1,170,837)|
|Net cash provided<br>by (used in) investing<br>activities||||(403,076)||(600,209)|
|Change<br>in cash and cash <br>reporting<br>period|equivalents|in the||280,902||358,961|
|Cash and cash equivalents<br>ofthe reporting<br>period|at the beginning|||2,499,185||2,140,224|
|Cash and cash equivalents<br>reporting<br>period|at the end|ofthe||2,780, 087||2,499,185|





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## 

|RECONCILIATION<br>OF NET INCOME TO NET CASH FLOW|RECONCILIATION<br>OF NET INCOME TO NET CASH FLOW|FROM OPERATING||
|---|---|---|---|
|ACTIVITIES||||
|||2020|2019|
||||F|
|Net income for the reporting<br>period (as per<br>the statement<br>offinancial activities)||840,213|629,321|
|Adjustments<br>for:||||
|Depreciation<br>charges||308,562|292,370|
|(Gains) on disposal ofassets<br>(Gains) on investment<br>Pension fund<br>non cash adjustment<br>Dividends<br>interest<br>and rents from investments<br>Decrease<br>in debtors<br>(Decrease) increase<br>in creditors||(235,972)<br>43,000<br>(181,403)<br>20,748<br>(111,170)|(83,759)<br>58,000<br>(182,658)<br>105,522<br>140,374|
|Net cash provided<br>by (used in) operating|activities|683,978|959,170|
|ANALYSYS OF CHANGES<br>IN NET DEBT||||





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|VOLUNTARY|INCOME|||||
|---|---|---|---|---|---|
|||Unrestri cted|Restricted|Total|Total|
|||funds|funds|2020|2019|
|||8|E|6|8|
|Donations<br>General donations<br>Government<br>grants<br>Legacies||33,582<br>157,243|15,214|48,796<br>157,243|55,651<br>11,000|
|||190,825|15,214|206,039|66,651|
|SCHOOL FEES||||2020|2019<br>8|
|The school's|fee incomecomprised:|||||
|Gross fees<br>Less bursaries,<br>scholarships||and discounts||9,556,275<br>(1,329,561)|8,606,570<br>(806,296)|
|||||8,226,714|7,800,274|





## 

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|TRADING<br>INCOME|2020|2019|
|---|---|---|
|School shop commission<br>Hire offacilities<br>Fundraising<br>events|15,345<br>31,531<br>16,816|13,665<br>24,878<br>13,720|
||63,692|52,263|



|INVESTMENT INCOME||Unrestricted<br>funds|Restricted<br>funds|Endowment<br>funds|2020|2019|
|---|---|---|---|---|---|---|
|||K|E||E|E|
|Dividends<br>Bank interest<br>Common<br>Investments<br>Fund shares<br>Rental income<br>(including<br>recharges)||115,695<br>22,909<br>39,165|3,201|433|118,896<br>22,909<br>433<br>39,165|117,758<br>18,733<br>810<br>45,357|
|||177,769|3,201|433|181,403|182,658|
|EXPENDITURE ON RAISING FUNDS|||||2~00|2019|
||||||E|F|
|Publicity and marketing<br>Investment<br>management|costs||||73,342<br>35,367|76,195<br>34,662|
||||||108,709|110,857|





## 

## 

|EXPENDITURE|ON CHARI|TABLE<br>ACT|IVITIES|||||
|---|---|---|---|---|---|---|---|
|||Staff<br>costs<br>E|~Oi 9|Other<br>~co s<br>E|Support<br>costs<br>8|Total<br>2020|Total<br>2019<br>6|
|Charitable<br>expenditure<br>Grants awards<br>and prizes<br>Teaching costs<br>Welfare<br>Premises<br>Activity courses<br>School trips||5,230, 152<br>42,312<br>508,035<br>35,811|151,209<br>6,223<br>146,868|3,977<br>445,505<br>575,973<br>633,119<br>60,939<br>29,206|618,955<br>67,198<br>144,360<br>7,415|3,977<br>6,445,821<br>691,706<br>1,432,382<br>104,165<br>29,206|4,346<br>6,034,047<br>854,248<br>1,385,939<br>76,543<br>281,073|
|Total||5,816,310|304,300|1,748,719|837,928|8,707,257|8,636,196|



## 

|basis consiste|nt<br>with the use|of the resour|ces.|||||
|---|---|---|---|---|---|---|---|
||||||Activity|Total|Total|
|||TeaeThin|Welfare|Premises|courees|2~20<br>6|2019<br>f|
|Staff costs<br>Depreciation<br>Office costs||382,546<br>170,469|41,118<br>662<br>18,330|84,816<br>3,600<br>37,799|4,580<br>2,046|513,060<br>4,262<br>228,644|485,343<br>4,718<br>204,698|
|Recruitment,<br>hospitality<br>and presentations<br>Subscriptions<br>and affiliations<br>Bank charges<br>Governance<br>costs||7,366<br>6,660<br>5,469<br>46,445|792<br>716<br>588<br>4,992|1,633<br>1,477<br>1,212<br>13,823|88<br>80<br>65<br>556|9,880<br>8,932<br>7,334<br>65,816|13,631<br>8,800<br>6,260<br>41,643|
|||618,955|67,198|144,360|7,415|837,928|768,618|





## 

|TO THE F NANCIAL<br>TATEME TS FOR THE|YEAR ENDED 31<br>UGUST 2020 conttn|u<br>d|
|---|---|---|
|STAFF COSTS|2020|~201|
|||E|
|Wages and salaries<br>Social security costs<br>Pension<br>contribution<br>Apprenticeship<br>levy|5,038,342<br>474,097<br>849,461<br>9,833|4,845,615<br>453,842<br>621,095<br>7,711|
||6,371,733|5,928,263|



|The average<br>number<br>of full time equiva|lent<br>employees<br>in the p|eriod, excluding<br>directors, wa|s:|
|---|---|---|---|
|||2020|2019|
|||No.|No.|
|Teaching<br>Teaching support<br>Technical support<br>Estates support<br>Administration<br>Early years<br>Welfare||72<br>11<br>7<br>20<br>13<br>25<br>1|71<br>7<br>6<br>20<br>14<br>24<br>1|
|||149|143|
|The number of higher paid employees|was:|||
|f60,001 - 870,000||||
|670,001 - 680,000||||
|F80,001 - 890,000||||
|890,001 - 6100,000||||
|8100,001 - E110,000||||
|6110,001 - 5120,000||||





## 

## 

|COMPARATIVES FOR THE ST|ATEMENT|OF FIN|ANCIAL ACTIV|ITIES|||
|---|---|---|---|---|---|---|
||||Unrestrl cted|Restricted|Endowment|Total|
|||Note|funds<br>f|funds|funds<br>f|2019|
|INCOME<br>AND ENDOWMENTS<br>Donations<br>and Legacies|FROM||45,602|21,049||66,651|
|Charitable<br>activities<br>Fees receivable<br>Catering<br>income<br>Sports courses<br>Schooltrips<br>Other income|||7,800,274<br>553,975<br>91,316<br>278,439<br>135,252|||7,800,274<br>553,975<br>91,316<br>278,439<br>135,252|
|Other trading<br>activities<br>Investment<br>income<br>Other income|||44,156<br>177,883<br>125,696|11,170<br>3,965|810|52,263<br>182,658<br>128,759|
|Total|||9,252,593|36,184|810|9,289,587|
|EXPENDITURE<br>ON<br>Raising funds|||110,064|793||110,857|
|Charitable<br>activities<br>Grants awards<br>and prizes<br>Teaching costs<br>Catering<br>and welfare<br>Premises<br>Sports courses<br>School trips|||4,346<br>6,033,237<br>854,248<br>1,385,939<br>76,543<br>281,073||810|4,346<br> 6,034,047<br>854,248<br>1,385,939<br>76,543<br>281,073|
|Total|||8,745,450|793|810|8,747,053|
|Net gains on investments|||85,031||1,756|86,787|
|Net income|||592,174|35,391|1,756|629,321|





## 

## 

|COMPARATIVES<br>FOR THE STATEMEN|T OF FIN|ANCIAL<br>ACTIVIT|IES (continu|ed)|ed)||
|---|---|---|---|---|---|---|
|||Unrestri cted|Restricted|Endowment||Total|
|||funds|funds|funds||2019|
|||E|F|||E|
|Net income brought forward||592,174|35,391|1,756||629,321|
|Transfer between<br>funds||96,436|(96,436)||||
|||688,610|(61,045)|1,756||629,321|
|Actuarial<br>gains<br>on defined<br>benefit pension scheme||(420,000)||||(420,000)|
|Net movement<br>in funds||268,610|(61,045)|1,756||209,321|
|RECONCILIATION<br>OF FUNDS|||||||
|Total funds broug ht forward||15,242,140|212,414|24,492|15,481,046||
|TOTAL FUNDS CARRIED FORWARD||15,510,750|151,369|28,248|15,690,367||
|NET INCOME(EXPENDITURE)||||2020<br>6||2019<br>6|
|Resources expended<br>include<br>Operating<br>lease payments<br>Auditors<br>remuneration:<br>for audit services<br>for accountancy<br>Directors'<br>liability<br>insurance<br>Depreciation<br>of owned fixed assets|services|||13,470<br>11,500<br>6,338<br>6,945<br>308,562||13,470<br>11,000<br>6,335<br>6,350<br>295,398|





## 

## 

|TANGIBLE FIXEDASSETS|||||||
|---|---|---|---|---|---|---|
|||||Furniture|||
||Land and|Assets under||and|Motor||
||B indi|C|t<br>Hl<br>6|a~LJII<br>t|vehicles|Total<br>6|
|Group<br>At 1 September 2019<br>Additions|11,575,063||47,292<br>246,652|2,183,170<br>71,845|177,330<br>34,204|13,982,855<br>352,701|
|Transfers|||(1,150)|1,150|||
|At 31 August 2020|11,575,063||292,794|2,256, 165|211,534|14,335,556|
|Depreciation<br>At 1 September 2019<br>Charge for period|879,812<br>203,071|||1,917,602<br>78,795|111,559<br>26,696|2,908„973<br>308,562|
|At 31 August<br>2020|1,082,883|||1,996,397|138,255|3,217,535|
|Net book value|||||||
|At 31August 2020|10,492,180||292,794|259,768|73,279|11,118,021|
|At 31 August 2019|10,695,251||47,292|265,568|65,771|11,073,882|
|Company<br>At 1 September 2019<br>Additions|11,370,063||47,292<br>246,652|2,145,904<br>71,845|177,330<br>34,204|13,740,589<br>352,701|
|Transfers|||(1,150)|1,150|||
|At 31 August 2020|11,370,063||292,794|2,218,899|211,534|14,093,290|
|Depreciation<br>At 1 September 2019<br>Charge for period|864,237<br>199,471|||1,880,998<br>78,132|111,559<br>26,696|2,856,794<br>304,299|
|At 31 August 2020|1,063,708|||1,959,130|138,255|3,161,093|
|Net book value<br>At 31 August 2020|10,306,355||292,794|259,769|73,279|10,932,197|
|At 31 August<br>2019|10,505,826||47,292|264,905|65,771|10,883,795|





## 

## 

|FIXEDASSET INVESTMENTS|2020|2019|
|---|---|---|
||E|E|
|Group<br>Market value at 1 September 2019<br>Additions<br>at cost|4,994,088<br>1,156,605|4,325,685<br>1,170,837|
|Disposals at opening<br>market value<br>Revaluation<br>changes<br>(Decrease) in deposits|(999,351)<br>310,496<br>(89,564)|(758,801)<br>95,281<br>161,087|
|Market value at 31August 2020|5,372, 274|4,994,089|
|Historical cost at 31 August 2020|4,549,466|4,407,507|
|The investments<br>comprise:<br>Government|~220<br>F|2019<br>E|
|UK<br>stocks|208,568|214,710|
|UK equities<br>and funds<br>Overseas<br>equities<br>and funds<br>Common<br>Investment<br>Funds|1,733,435<br>2,822,648<br>28,146|2,390,413<br>1,689,360<br>27,536|
|Cash awaiting<br>investment<br>Investment<br>property<br>in Nantwich<br>Solar panels|191,535<br>332,918<br>55,024|281,100<br>332,918<br>58,052|
||5,372,274|4,994,088|
||2020|2019|
|Company|6|E|
|Market value at 1 September 2019|27,536|25,780|
|Revaluation<br>changes|610|1,756|
|Market value at 31August 2020|28,146|27,536|
|Historical cost at 31 August 2020|12,366|12,366|
|The investments<br>comprise:|2020<br>6|2019<br>6|
|Common<br>Investment<br>Fund shares|27,534|25,778|
|Investment<br>in subsidiary<br>company - see note 20(a)|2|2|
||27,536|25,780|





## 

|14,|DEBTORS||||||||2020|||2019|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||~G||~C|~Grou|~Com<br>an|
|||||||||F||F|6|F|
||Fees receivable|||||||331,684||331,684|311,917|311,917|
||Other debtors|||||||5,217|||132,869|334|
||Prepayments|and||accrued||income||186,471||186,471|98,745|98,745|
||Amounts<br>due|from subsidiary|||||undertakings|||529,097||530,699|
||Tax recoverable|||||||9,372|||9,961||
|||||||||532,744|1,047,252||553,492|941,695|
|15.|CREDITORS:||AMOUNTS|||FALLING DUE|||2020|||2019|
||WITHIN ONE||YEAR|||||~Grou<br>6||trftgtpggy<br>6|~rou|~Com<br>an|
||Fee payments||in advance|||||1,272,631|1,272,631||1,127,413|1,127,413|
||Trade creditors|||||||188,850||188,850|347,713|347,713|
||Other taxation||and social|||security||113,388||113,149|121,469|121,469|
||Other creditors|||||||758,983||758,983|847,412|847,412|
||Accruals<br>and|deferred|||income|||248,159||237,709|249,174|237,692|
|||||||||2,582,011|2,571,322||2,693,181|2,681,699|
|16.|ANALYSIS OF MOYEMENT|||||IN|FUNDS||||||
||||||||Balance at||||Gains|Balance at|
|||||||1|September||||Losses and|31 August|
||||||||~219|Lnnm|Exggnditttre||transfers|2020|
||||||||E|6|||E|6|
||Unrestricted<br>funds||||||||||||
||Generalfunds||||||15,966,750|9,387,430|(8,755,199)||285,221|16,884,202|
||Pension deficit||||||(456,000)|||(43,000)|88,000|(411,000)|
||||||||15,510,750|9,387,430|(8,798,199)||373,221|16,473,202|
||Restricted<br>funds||||||||||||
||Bursary funding||||||140,192|22.463||(4,056)|(46,831)|111,768|
||Restricted<br>fund raising||||||11,177|6,853||(12,566)||5,464|
||Permanent<br>endowment||||||||||||
||Prize and Scholarship|||Funds|||28,248|433||(1,145)|610|28,146|
||Total funds||||||15,690,367|9,417,179|(8,815,966)||327,000|16,618,580|





## 

## 

|Comparatives<br>f|or th|e previo|us<br>year|||||||
|---|---|---|---|---|---|---|---|---|---|
||||Balance at|||||Gains|Balance at|
||||1 September<br>2018|Income|~E*|Ei||Losses and<br>transfers|31 August<br>2019|
||||E|6|||||F|
|Unrestri cted funds||||||||||
|General funds<br>Pension surplus|(deficit)||15,220,140<br>22,000|9,252,593|(8,687,450)<br>(58,000)|||181,467<br>(420,000)|15,966,750<br>(456,000)|
||||15,242,140|9,252,593|(8,745,450)|||(238,533)|15,510,750|
|Restricted<br>funds||||||||||
|Bursary funding<br>Restricted fundraising|||211,614<br>800|25,014<br>11,170|||(793)|(96,436)|140,192<br>11,177|
|Permanent<br>endowment||||||||||
|Prize and Scholarship||Funds|26,492|810|||(810)|1,756|28,248|
|Total funds|||15,481,046|9,289,587|(8,747,053)|||(333,213)|15,690,367|



## 

|ANALYSIS OF NET ASSETS BETW|EEN FUNDS||||
|---|---|---|---|---|
|Group|Unrestri cted|Restricted|Endowment||
||funds|funds|funds|Total|
||8|6|8|8|
|Tangible fixed assets<br>Investments<br>Cash and bank<br>Net current (liabilities)<br>Defined benefit pension asset|11,118,021<br>5,314,273<br>2,433,781<br>(1,981,873)<br>(411,000)|29,855<br>154,771<br>(67,394)|28,146|11,118,021<br>5„372,274<br>2,588,552<br>(2,049,267)<br>(411,000)|
||16,473,202|117,232|28,146|16,618,580|
|Company|Unrestri cted|Restricted|Endowment||
||funds|funds|funds|Total|
|||E|E|8|
|Tangible fixed assets<br>Investments<br>Cash and bank<br>Net current<br>(liabilities)<br>Defined benefit pension asset|10,932,197<br>2,433,779<br>(1,524,070)<br>(411,000)||28,146|10,932,197<br>28,146<br>2,433,779<br>(1,524,070)<br>(411,000)|
||11,430,906||28,146|11,459,052|





## 

## 

## 

|employer<br>con|t|ributions|amounted<br>to|amounted<br>to|629,722 (2019:f29,882).|||
|---|---|---|---|---|---|---|---|
|Membership||numbers|at 31August||2020|2020|2019|
|Active||||||4|4|
|Deferred||||||2|3|
|Pensioners||||||21|22|
|Widow||||||3|2|
|The actuarial|assumptions|||underlying|the assets and liabilities as at 31 August 2020 were:-|||
|Assumptions||||||2020|2019|
|Rate of CPI inflation||||||24%|2.3%|
|Rate of salary||increases||||3.9%|38%|
|Rate of pension<br>increases||||||2.5%|2.4%|
|Discount rate|||||||1.8%|
|The assets in the Fund|||and|expected|rate of return were:|||
|||||||2020|2019|
|||||||6000's|6000*a|
|Equities||||||1,789|1,990|
|Government|bonds|||||92|397|
|Other bonds||||||507|214|
|Property||||||331|351|
|Cash/liquidity||||||198|125|
|Other||||||757|818|
|Total market|value ofassets|||||3,674|3,895|
|Actuarial<br>value||of (liabilities)||||(4,085)|(4,351)|
|Fund surplus/(deficit)||||||(411)|(456)|





## 

## 

|The amounts<br>recognised<br>in statement|of financial activities are|as follows:-|||
|---|---|---|---|---|
|||31|August|31 August|
||||2020|2019|
||||F000's|6000's|
|Current service cost|||50|40|
|Net interest cost|||10|36|
|Administration<br>expenses|||1|1|
|Total included<br>in employee<br>expenses|||61|77|
|Changes<br>in the present<br>value of the|defined benefit obligations|are as follows:|||
|Opening<br>defined<br>benefit obligation<br>Current/past<br>service cost<br>Interest on pension<br>liabilities<br>Members<br>contributions|||4,351<br>52<br>77<br>8|3,756<br>76<br>100<br>8|
|Actuarial<br>(gains)losses<br>on liabilities<br>Benefits/transfers<br>paid|||(217)<br>(186)|568<br>(157)|
|Benefit obligations<br>at end of year|||4,085|4,351|
|Changes<br>in the fair value of plan assets are as follows:-|||2020|2019|
||||6000's|K000's|
|Opening<br>fair value of plan assets<br>Interest on pension<br>plan assets<br>Remeasurements|||3,895<br>69<br>(129)|3,778<br>100<br>148|
|Employer contributions<br>Members<br>contributions|||18<br>8|19<br>8|
|Benefits/transfers<br>paid|||(186)|(157)|
|Administration<br>expenses|||(1)|(1)|
|Fair value of plan assets at 31August 2020|||3,674|3,895|
|Statement<br>ofrecognised<br>gains and losses|||||
|Actuarial<br>gains/(losses)<br>recognised|in the STRGL||88|(420)|





## 

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## 



## 

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## 


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## 



## 

|20.|SUBSIDIARY AND RELATED ENTITIE|SUBSIDIARY AND RELATED ENTITIE|S (continued)|||
|---|---|---|---|---|---|
|(a)|Novitas Services Limited|||2020|2019|
||Turnover|||6|6|
||Cost ofsales|||||
||Gross profit|||||
||Other income|||||
||Administrative|expenses||(4,262)|(4,718)|
||Profit/(Loss)|||(4„262)|(4,718)|
||The aggregate|ofthe assets, liabilities|and funds was:|2020|~20 9|
|||||F|6|
||Assets|||185,825|190,087|
||Liabilities|||(351,867)|(351,867)|
|||||(166,042)|(161,780)|
||Share capital|||2|2|
||Profit and krss|account||(166,044)|(161,778)|
|||||(166,042)|(161,780)|



## 

|||2020|2019|
|---|---|---|---|
|||K|E|
|Incoming<br>Resources <br>Gains on|resources<br> expended<br> investments|201,922<br>(102,145)<br>238,390|718,395<br>(225,081)<br>85,031|
|Net movement<br>in funds||338,167|578,345|





## 

|20.|SUBSIDIAR|Y AND RELATED E|NTITIE|S (continued|)|||
|---|---|---|---|---|---|---|---|
|(b)|Birkenhead|School Foundation|Trust|—connected|charity|||
||The aggregate of the assets, liabilities|||and funds|was:|2020|2019|
||Assets<br>Liabilities|||||5,513,489<br>(187,920)|5,177,717<br>(190,315)|
|||||||5,325,569|4,987,402|
||Unrestricted<br>funds<br>Restricted funds|||||5,208,337<br>117,232|4,836,033<br>151,369|
|||||||5,325,569|4„987,402|



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##