Salisbury Cathedral School Limited (A company limited by guarantee) ANNUAL REPORT AND FINANCEAL STATEMENTS for the year-ended 31 Aiigust 2021 Company number.. 04461932 ChaTlty number.. 01093554
Salisbury Cathedral School Limited (A cornpany limited by guarantee) CONTENTS Page Statutory inforniation Repon of the Governors 2- 10 Report of the Auditors Statcment of Financial Activities 14 Ba]an¢e Sheet Statement of Cash Flows 16 Notes to the Financial Staiements 17-30
Salisbury Cathedral School Limited (A company limited by guarantee) STATUTORY tNFORMATION for the year-ended 31 August 2021 MEMBEK The CaihedTal Church of the Blessed Virgin Mary of Salisbury GOVERNORS Mr5 J Monro-Higg5' Chair oJ'Gnv¥i'nois Mrs E C Cairncr05s- RLsigned112 February 2n21 Mr M C Cooke' c.hair Mr A Bowman- Resigned 10 Oclober 2n21 Mrs C M Cooper Mrs S Erven Dr J Fleieher Ms S Luinl¢y Mr T M Olliff-Lee' Mr J Sloan Miss L K Wallace The Revd Canon E Probert- Resigvttd nl NovLmbgr 202n The Revd Canon A Machatn Appoinled 17 Seplgmber 2Q20 Mrs A O Cowley- Appointed26 June 2n21 Member of the Finance & General Purposes Committee Designated Safeguarding Governor DIRECTORS All Governors a recorded at Companies House as Dire¢tors, SEYIOR LEADERSHIP TEAM Htad Master Dcputy Head Master Head of Pre-Prep Designated Safeguarding Lead IT Strategy Lead Finance Manager Mr Clive Marriott Mr Nick Hawker MTS Linda Cunningham-Browi Mr Oli Elford MT Duncan Hodson Mr Edward Fenn ADDRESS & REGISTERED OFFICE I, The CID5C Salisbury Willshire SPI 2EQ www.salisbu cathedralschool.com ADVISERS BANKERS Lloyds TSB Bank plc 38 Blue Boar Row Salisbury SPI IDA SOLICITORS Parker Bullen 45 Castle Street Salisbury SPI 3SS AUDITORS RSM UK Audit LLP Highfield Court Tollgate Hatnpshire S053 3TY Company nuTnber.' 04461932 Charity number.. 01093554
Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS, REPORT for the year-ended 31 August 2021 The Governors present their annual report together with the audited accounis for ihe year-ended 31 August 2021. REFERENCE AND ADMINISTtL4TIVE INFORMATION Salisbury Cathedral School (SCSI is a ¢omp8ny litnited by guaTant¢e. incorporated on 14 June 2002. whose sole metnber is the Cathedral Church of the Blessed Virgin Mary of SAlisbury la rpOratiOn which acts through the body known as Chapierl. The company is also a TegisteTed ¢haTIty. STRucfuRE, GOVERNANCE AND MANAGEMENT Governing Body Under the terms of the Articles of Asso¢iation, the Direciors are referred to as Governors of whoTn there shall not be less than eight and not more ihan fourteen, plus ihe Chairman. Recruitment. induttion and training of Governors The Cathedral Church of the Blessed Virgin Mary of Salisbury has the poweT to appoint and rctnove Governors who are appointed for five year terms. Both ihe Governing Body and the Cathedral Chapter give careful Consideration io new Governor appoinltnents to enSUTe any skills shortage5 are filled. New Governors are inducted into Ih¢ workings of the school, including policy and procedure5 at induction meetings with thc Hcad and Clerk. Governors are encouraged to attend appropriate exlernal iraining serninars and conferences. Orgathi$ation The Governor5 are legally responsible for the overall management of the school and meet at least three Iitne5 a year. The work of implementing mosi of Iheir policies is carried out by the metnbeTS of the Finance and General Purposes Commiiiee IF&GP) who typically meet two weeks before tach rneeting of the full Governing body. The day lo day running of the school is delegated to the Head Master, supported by his senioT leadership team. Risk MAnAgernent The Governors examin¢ ihe major risks thai the school faces each financial year. The Charity has developed systems io rnonitor at)d control these risks and to miiigate any impa¢1 they may have on the school's future. Key Management Personnel Kcy Mana8einenl Personnel comprises of the Senior Leadership Team. The pay for Key Managetnent Personnel is based on SCS Pay Scales and is agreed by Governors. Volunteers The school benefits greatly from having volunieers. These include work experience students. parents, communiry mernbers and Governors. OBJEcfs, AIMS, OBJEcfivES AND ACTIVITIES Charitable Objeets The objects of the Charily are to promote and provide for the advancemeni of edu¢aiion and ihe advancement of religion in accordance with ihe practices of the Church of England for the benefil of ihe public. For the furtherance of these objects, the Charity has various perinan¢nt endowmcnls and un-endowed trust fuiids held for special purposes in coniiectioii witli the developinent of the school's faciliiies and for s¢holarsliTPS, bur5aTie5, prizes and other choral and educational putposes. The Charity PUTsues Èts objects by running an IAPS accredited Preparatory School. with a Pre-Preparaioiy depaftment located in the Cathedral Close. Company number.. 04461932 Charity nuffiber.. 01093554
Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS, REPORT (coniintsLd) for the year-ended 31 August 2021 Aims & Obj¢ctives The aiins of the school are: 10 mainiain and build upon the fraditions of5piritual enrichmcnt, musical excellence and academic achievement which have developed owcr its 900-year history., to PTovide a rounded and fulfilling education through which a love of learning is instilled within an environtnent which proiMot¢5 a Strong Christian ethos including respect for the indivtdual., to have high academic expeciaiions and wid¢-ranging opportunities in tnusic. sport, art and dTatna eneouraging pupils to develop skills and talents which will equip thtrn for life. In order that pupils le2vc Salisbury Cathedral School having achieved an ¢x¢ell¢nt a¢ademi¢ grounding and confidence in their abilities and having benefited frorn the valucs, cultures and disciplines of the School. In setting objectives and in planning the aciivities of the school, Govemors have given careful consideration to the Charity Coinmis510ll'S gtneTal guidance on public benefit and in particular to the Supplementary public benefIt guidance on advancing education and on fee charging. REVIEW OF ACTIVITIES & ACHIEVEMETriTS The rnost noticeable indicator of tlie school's success is a healiliy pupil role and a full boarding hollse, ai a lime when other similar prep schools are suffering in the curreni economic climate. Mainiaining and itnproving pupil numbers is one of the s¢hool's key objectives. Pupil Numbers The number of pupils al the end of the school year was 206 {2020.. 211 l including 27 boarders 12020.. 301, with casual boardiiig also reinaining popular". 15 pupils12020.. 231. Sotnc of the year was Spent in lockdown, due to th¢ Coronaviru5 pandetnic, which meant that th¢ boarding house wa5 either cornpletely closed. or at other times only open for full and weekly boarders. Casual boarding was managed carefully during the summer term 2021, to limit the risk of infection. However, boarding numbers were very healthy during this time, with the boarding house being full on most ni8his. The pupil roll reinained encouragin8, and the number of enquiries is on the increase: in particular in our Nursery and Pre-prep because of the continued success of the extremely popular and over-subscribed Toddler Groups. At ihe end of the academic year and partly ii) response to ilie school's online. remote l¢arning provision during both lockdowns, there weTe 40 new pupils scheduled io start in ihe autumn ierm 2021. Teaehing and Learning The scliool educalts and pPare5 children to meet the standard5 required io enter the next school most Sulted lo their needs. All pupils ai the sthool gained entry 10 their ftrsi-¢hoi¢t school at 13+ and a good nutnber of pupils secured pla¢¢s at loc21 grainmar schoo15 at I l + and one at 13+ Many children leaving the school were awarded Scholarships to their next school across a range of disciplines. The Head Master, tkputy Head and Head of Pre.Prep appraise all academic staff annually. The fo¢us ofthese appraisals 15 linked io the scliool's sirale8ic plan and departmeiital developmeni plans. Tlie Head Masier appraises non-teaching staff. The recently devised creative curriculum was rtsllcd out throughout the school from th¢ Pre-Prep and into lower Key Stage 2. The EYFS set aside 501ne of the yearto plan for the new statutory curriculum, Thhich it will be delivering frorn Septernber 2021. A continued increased focus on outdaor learning in EYFS and KS I was received well by pupils and their parents. The refreshed. more practical, thematic. 'topic-bhsed' approach in lower KS2 (Years 3 & 41 has rneanl that Staff are more engaged with a wider variety of leaching and learning sirategie5. The continued shift away from the Common Entrance ICE) assessment ftatnework al KS3 (Years 7 & 8) was further emphasised by senior schools using their own frarnework5 alongside increased use of Ihc ISEB pre-lests at I l+ and 12+ Within the school, a new system olas5essment was rolled out in the fouttddlion subjects Isiarting with humanities) for YEar 7 pupi15. Thi5 involved a range of assessment techniques to ascertain a broad representation of a pupil's progre55 and attainment. This broadeT fratnework of a5se5Stn¢nt acknowledges th¢ variety of learning styles amongst the pupil body. In June 2021 all Year 8 pupils Sat the CE exatninations in th¢ core subjects (English. maihs and science) at]d most other subjects wert 45S¢55¢d inttrnally. This decision 15 in line with the requiretnenls of Inany of the destination senior schools within the School's frame, aiid is now commoii amongst many otlier prep schools. Company number.. 04461932 Charity number.. 01093554
Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS, REPORT (conlinued) for the year-ended 31 August 2021 The governor led Education Committee continues io meet regularly io ensure ihai the School is delivtring the best education to its pupils in line with ihe School Sirategy. The Corntnittce Started a programTne of inviting dcpartmental heads to provide feedback and set out aspiraiions for departmenial strategy and dev¢loptn¢nl. National COVID-19 restrictions curtailed the usual varied ¢xtTa-¢urriculaT prograTnTn¢ both in terin5 of the nuillber ofclubs offered and opportunities for external visiis such as theatre and rnuseuTll Visits along with opportunities to explore the local environment. Greaier use of the outdoor learnin8 environment on51te helped to seamlessly join up learning within the curriculutn and beyond. Mu5LC After the lockdown in Trinity Term, it was wonderful to be back in school in September 2020. The year started with the shocking news of the sudden death of Rich Perry Ith¢ School'5 percu5STOlI t¢ach¢rl just before tli¢ start of term, which really shook everyone to ihe COTe. He was an illSPiTational teacher and a truly lovely human being, who was totally Cotntnitted to the children he taught. We have a beautiful bench in his memory, jvsi outside Queensgaie Couage. Susie Lainb, Director of Music would ordinarily have speni h21f 2 day a week working in a seri¢5 Of Imaintained PTltnary 5choo15. as part of our partnei'5hip project 'Voices Inspire, This was iiiipossible diiL' lo Covid regulations, although several schools enjoyed using soine of our recorded hymns and songs in their cominunities. Ive coiildn't invite parenis into informal concerts. or even differenr bubbles io watch other bubbles. In order to gei some ensembles playing, u'e arranged our ensembles within bubbles whi¢h was ¢hallengiDg as it meani we had children playing iogether because of thcir age rather tliaii their standard. The usual scliool choi couldn'l iakt place duc 10 Staggered start5 and ends of days, 50 there wa5 More Singing than 15 usual in our class lessons. Dave C.hapinan was appointed as the new percussion teacher la very hard post to fill) which he took on with great sensitivity and compassion. Year 8 potential music scholars were given performance opportunities, they took it in turns io play ai their bubble assembly in the BSR. An absolute highlight ivas when 4 of ihe Year 8 Chorisiers were chosen 10 sing at Stonehenge in the big BBC Children in Need song, which went oui on National Television. The footage of thetn singing right in the rniddle of tlie stones 15 amatirtgy and the experi¢Dc¢ of working with a film ¢r¢w at 5unri5¢ on Salisbury Plain so exciting. Definitely worth the very early and cold get up. Music exams resumed, including a large ABRSM entry which yielded 8 pa55es, 12 rnerit5 and an impressive 18 distinctions. The Carol Service becatne a virtual service, with each year group or class recording a song in the BSR. The Pre-Prep also made virtual Nativities. li feli surreal noi to be able to offer these landmark performan¢es as live offerings. It Wag therefore a real delight that every cla55 Ill the Prep Scliool was able to sing carols infoi'inally in the cathedral near the end of lerin, and for the first time all term, parents were able to hear live singing. The Lent tertn saw a return to lockdown and remote learning. Live Inusic lessons were a great success, and the classe5 made reinoie recordings io a high standard. Lols of the children cotttribuled lo a song for Valentine's day, '[ see the light" Our Year 8 scholars did brilliantly, managing to win a g(H)d number of awards including 2 specialist awards io Wells c.athedral School and music 5cholarship5 to Sherborne. Lancing and Embley among other awards. All of these WeT¢ prepared for and taken remotely. Perhaps Ilie biggest musical achievement of the year was the remote recordingof Purcell's Rondeau. W¢ had 10 I submissions for this, from pupils, pa nis, oiher faimily Ineinbers and statT. It is cun-enily f¢atur¢d on th¢ BBC 10 piece5 website on thi5 link.. hit 5.'Ilwww.bbc.co.uklteachlten- lec¢ten- iec¢5-at-hotne- eneral- showcaselzn2w 7h It was great to be back at school for a couple of weeks in the Lent terrn, when the Year 8 girls were filtned b)uncing netballs in time to Tchaikovsky's N'ut¢racker suiie. htt s=Ildrive. le.corn/fileld114E WvdT4 1471 eobt aPxf nEIZNlview?us =sharin The Trinity term saw a return to bubble ensemble5, and we were able to add in a couple more groups during enrichment time, to give the children a chance to plk)y some Ja2z. We were rek)Ily hoping for a big outdoors end of year Picnic In the Park, but sadly the COVID $tricTIonS were not lifted in time for this to go ahead. Insiead, ea¢h bubble had its own sports day which started with the Corresponding bubble ensembles playing or singing 10 the paTenis. li feli like a massive achievement to actually host Sotne live perfoTman¢es. and li was brilliant for the children to finally receive some acknowledgement and applause for their efforts over the year. Company number.. 044619J2 Charity nutnber.. 01093554
Salisbury Cathedral School Limited (A company limited by guarantee)
GOVERNORS, REPORT (c'onlinucd)
for Ilic year-ended 31 August 2021
We said goodbye to Fiona Murphy. cello teacher, who is moving to Malia. Jane Parsons has been appointed a5 her
replacernenl, and Ben de Souza has been appoinied as our fiTSI ever Accordion Teachcr. Both start in Septernber 2021. As
tver, the team of VMTS have been the baLkbone of Ihe musical life olthe sLhool, tt]aintaining enthusiasm and inspiring
our pupils even in ihe irickiest of times.
DrAm#, D¢bite #nd Pmblie Speaking
Al Salisbury Cathedral School. we strongly believe that opportunitit5 for involvemeni in drama must be exciting and
inclusive. A51 year groups are ordinatily itlvolved drama of Some sort during the course of each week, usually part of
their English Ic550ns. Thi5 year, none of the usual productions look place with an audience present. The Year 7 and 8
production was filmed and therefore, all the pupils, hard work did not go to waste, and tlie other production5 for the younger
years were put on hold.
Children are encouraged to hone their public 5peakin8 and debating ski115 and ivhilst we were unable to h05t our Usual
competition5. Instead the pupils were invited to contribute io an online version insiead, which was very well received by
Spoi't Physical Education
Swrt and Physical Education aT¢ an integral part of school life at Salisbury Cathedral School. contributin8 to a well-
rounded experience for pupils and playing an especially important role thi5 year in ensuring their physical and mental well-
being as we adapt to remote and blended learning.
Our primary aiins for the pupils are..
To teach an understanding of the effects, benefits and irnportance of regular physical exercise on the body and
tnind with the ultimate aim that li becomes a lifelong habii
To deliver outsianding sporting opportunities for all, for progress and participation, within a happy and nurturing
pastoral environment
To foster the core values panicularly relevani to spon, those of ieamwork, resilience, self-dis¢ipline. leadership
and creativity
Provision in ihe a
VID-conditi
The requiremen¢ to move to reJnote learRing rneant that the curriculum wa5 adapted to meet this need through online
teaching and 5UPPOrt via the Google Cl
Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS, REPORT (continued) for the year-ended 31 August 2021 Publit Ben¢fii Ind Community Link$ ChorAI Scholarshlp$ The School is part of tlie Cathedral'5 fouiidalion and is intrinsically linked to the life of the Catliedral. The Cathedral and a550cialed endowments fund clioral Scholarships for up to 40 boy and girl chorisler and probationer ¢hoiister5. In the case of financial need, the school works very closely wiih parents to identit). and source additional Ine&n5 te5t¢d funding. During the year, 28 of the 40 ch0ri5ter5 were in receipt of such additional fiinding. The level of support varied according to need up to IOOQ/D. The aspiration, in partnership with the Cathedral, is that all poieniial choristers who are successful ai voice trials ought to be able to lake up a place in the choir irrespeciive of parenthl means. In OTder to faciliiaie this, Ihe school employs the services oran external provider to ensure tliat eacli fatnilj's ctrcumslances are scrutinised in detL?il and more objectively. Ch0ri5ter activitie5 Michaelrnas term Th¢ Choristcrs returncd to 5cliool having not sung logeth¢r since early March. They were able io sing a reduced number of servic¢s ¢a¢h week and at the iveckend. Early rnorning rehearsals in the week were moved to lunchtimes, giving choristeTS the chance to join other pupils in academic catch up classes. Saturday morning rehearsals were slopped in an atternpt to itnprove general wellbeing. Sunday morning maitins was suspended, enabling ) slighily later siart io ihe day. Live streaming of services was introduced Iwiih appropriate safeguarding proiocolg) so that familie5 frorn far away could rllne in on a regular basis to wat¢h and listen. September also saw the adinission of new Choristers. For Ihe first time, all Year 8 Chorisiers were protnoted to Senior Chtsri5t¢rs. Church of England regulaiions in the O¢iob¢r l November lockdown allowed the Choristers to lake part in service5, albeit with no congregation preseni and live sireamed. The famous Advent carol services were unable lo take place, but the lockdown ended in lime for the Chorisier Btshop service. This is an ancient ceremony thai takes place each year, Ivhere a Chorister Is promoted to a Bishop for the duration of the service. This year saw a bo), ¢horis¢er re¢eivTng this honour. He delTver¢d a fantastic sermon About how we should all be a liiile bil more like Paddington Bear, and show greaier humility and iniegrily. The Chorisiers sang the Christmas services, ex¢ept Evensong on Chrisimas Day and ihen weni home for lunch. Lent term The Lent term saw another lull lockdown. The Ch0ri5ter5 reverted to online rehear5a15. They were Submitted videos of hymn singing, which were pui together to use in weekly assemblies. By Eagter for the first titn¢ sn two year5 the Choristers were able to sing the Holy Week and Easter service5. Trini In the Trinity term, services resumed and the Choristers enjoyed being back in the Cathedral taking part in worship once again. At the end of term, they visited Winchester for an exciting SCF project, Ivhich saw some recordings take place for a concert involving Chichester, Salisbury and Win¢h¢st¢r. A filin was rnade by the BBC io docutnent the history of the f¢5tival. The Year 7 and 8 Choristers were able to sing in a service at Winchester, with both Chichester and Winchester Year 7 and 8 Choristers. Thankfully, all our leaving Year 8 Choristers have been invited back to sing al Messiah in December this year. We are thoroughly looking forward to seeing thein again. Use of Faeilities Two local adult choirs use the school's facilities for rehearsals in the evenings. The Cathedral's junior Choir and Youth Choir a150 regularly rehearse in the school. In addition. the C0munitY use our PTemises for various evenls throughout the year. Company number.. 04461932 Chariiy number: 01093554
Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS, REPORT (conlinued) for the year-ended 31 August 2021 Policv ReIeW Governors keep llnder review the school's Fee Remi55ion policy to inform developtt]ent of policy and help ensure the objeciive of wider access is achteved Our current Fce Retnission policy is 8Q/o of Gross Fee Income, 10 enable more pupils to benefit from tneans tested support. A5SlStRnte for stfiff As part of our emphasis on attracting and reiaining high Calibre siaff we ¢urrently offer a discount schcme where staff mernbei's choose to educate their children at our school if they meet the ciiieria in our Fee Remi55ion policy. Bursarie5 This year ihe value of means iested bursaries totalled over £316,29512020.. £253,642) and represented l O°h of our gross Ites12020.. 8.7¢/ol. Bursaries provide assistance to 3712020.. 481 of our non-¢horister pupil5. Community Involvement Links with Bishop Woi-dsworih's scliool have coiitinlied 1th the joint use of various sport and music facilities. During school holiday periods. the School's facilitie5 are made available lo visitingchoirs singiiig the daily services in the cathedral and, durinx both term and holiday periods, to various local sports clubs, ¢hoirs and oiher Community groups. Charity 5LEPPOrt The School support5 variou5 charity endeavours throughout the acadeinic year, although some of the opportuni¢i¢s to do this hai'e been limited due to the pandemic. Each year the school chooses a chosen ¢harity for the year. in the acaderni year 2019-2020, this was the Stars Appeal. The chosen charity 15 SUPPOrted by cake Sales. non-uniform das'5, collections from caihedral assemblies and other even15. Additionally. the school supports Children in Need and Comic Relief. FuThd RAising No new appeals have been rnade this year but the school has benefited from the valuable 5UPPOrt of the Friends. The Friends of Salisbury Cathedral School provide social and fundraising activities and hep build a strong comrnunity. This ycar the Friends have continued to help fund ouidoor learning equipment for Pre-Prep, Sports & Play Equipment. Th¢ Govemors. Development Committee coi)tinu¢5 10 5iipport ihe SLT iii coiisidcriiig options for improving the school's facilities Ihrough 'Friend raising, and fvi)d raising. Tlie Committee lia5 actively 50ught out expert15e from amongsi the partiiial body to help guide and advise on prospective projects. The school has moved forward it5 plan5 to appoint a Development Officer and it is aniicipaled that this role will be filled ai ihe start of the new acadeR]ic yeaT in Septttnber 2020. FINANCIAL REVIEW AND RESULTS FOR THE YEAR The results for the year are set oui on page I l of the financial statement5. The 9¢1i001's total income for the period I September 2020 to 31 Augus12021 after adjusting for school bursaries and other remissions was £2,986,40012020.. £2,785,791 l. S¢hool expenditure was £3,063.73312020.. £2,629.1761. This r¢5ulied in a deficit before gains on investments of £77,33312020.. £156,615}. At the end of the year, the net assets of the school er¢ £741,60112020.. £779.2231 out of which £412,782 {2020.. £472.005) were represented by unrestricied reserves. Restricied funds amounted to £62,742 (2020.. £81.6021 and the endowtnent funds amounted to £266,07712020". £225.6161. Reslricled and endowed fijnds are not availabl¢ for the general purpose of the charity bul ITIUSI instead be used for iheir intended pllrpose. A5 a Charity the parents of our pupils have the assurance ihat all the income of the srhool must be applied for educational puryose5 As an educational Charity wt enjoy tax exetnption on our educational activities and on our investment income and gains PTovided Ihe5e are applied for our charitable aiins. As & Charity we are also eniitled to an 80D/o reduction on our busilless rates on the property we occupy for our charitable purposes. The financial benefit5 we receive from these tax exemptions are all applied for edu¢aiional purposes and indirectly heP u5 to maintain our bursary policies. However. as an edu¢ational charity, we are unable to reclaitn V AT input lax on our costs as we are an exempi supplier for V AT purposes. Wt also pay tax as an employer ihrough the national insurance contributions we tnake. In addition to Iht very 5ub5tantial benefits our School brings to our pupils. the local Communiiy and society through the education we offer. the coniribution of our choirs, our musical and sports outrtach and bursary PTograrnrne crcate a social asset wiihoui cost to ihe Ex¢hequer. Company number.. 04461932 ChaTlty number-. 01093554
Salisbury Cathedral School Limited (A cornpany limited by guarantee) GOVERNORS, REPORT (cnpztinued) for the year-ended 31 August 2021 Developments gnd Mainten8nee The school continues to invest in the maintenance of its fabric and resources. with thEs yearfs focus being on generdl Diaiiiteiiaiir¢ aTovnd th¢ School and on irnprovcinent5 to general l¢acliiiig room5 in thc Bisliop's Palace aiJd tli¢ other buildings on the kitchen garden site. This has in¢luded replacing interactive whiteboard technology and data projectors. with large touchscreen tel¢vi510ll5. Enhanced lighting ha5 itnproved the general appearance of Tnany cla55rootns. and a comprehcnsive review of classroom fijrniture has helpcd to create a more modern and purposeful feel. Recent investtllent in the IT infrasirucrure and hardware Imosi notably Chromebooks foi pupil usel helpfully coincided wilh ihe demands of retnote learning during the period5 of lockdowrt. Reserves and Financial Health The Governor5 regularly review the finance5. budget5 and spend against budget a5 part of the effective stewardship of the s¢h(x)l. The defscit foi. the year has decreased the school's unrestricted fiinds at the year-end to £412.78212020.. £472,005). The school holds reserves for a number of purposes, including funding ¢urr¢nt and future spending on fixed assets. rinancirtg the school's working capital and providing a conringency againsr the risks and uncenainties inhereni in running an iiidependent school. The Governors. policy is io hold sufticieni reserves io cover Ihree months of recurring expenditure and lo spend any surpluse5 generated by the school on irnproving its facililieg. Three rnonih5 of expendJtUT¢ Is £765,9)3 and therefore the Govemors are taking steps to build reserves to this level including increasing the use of school facilitles for external lettings. building pupil numbers and creating effi¢ien¢y savings where possible. Investment policy Salisbury Cathedral S¢hool Limited seeks to achieve steadily growing tncome and the preservation of ils capital assets in real terms. It works Wlthin the pararnet¢TS of th¢ Church of Englaiid's ethical invesiTtLent poli¢y and has ils oivn invesimeni policy reviewed by Governor5. FUTURE PLANS The Governor5 are coinmitted to improv5ng facilities and Working with the Gov¢mors' Development Comtnittee in looking ai ways in which this can be realistically achiev¢d. The Gov¢M0 support the school'5 senior leaders in Tecognising the importance of having a paid member of school siaff helping lo run the development otTice. The agenda for future ¢apiial projects centres on irnproving facilities for the Early Years Foundaiitsn Stage (¢lassrooms and outdoor learning areas) building two new general purp05¢ clas5rootn5 for the Prep departrnEnt impToving ihe front enirance lobby and visitor ivelcome facilities providing additional lavAtories and hospitalitv space for visiiors rationali5in¥ adtninisiFative office ac¢ommodaiion The Governors are in consuliaiion wilh the Carhedral Chapier to further secure the long term future of the School. RISK MANAGEMENT The Governors have given consideration to the majorTisks to which the s¢hool is exposed. The governing body has ultimate responsibility for managing any risk faced by the school. Detailed consideration of risk is delegT&tled 10 Ihe F&GP and fFom there to each of the other sub-committees. The risk management process and the resulting report identifies risk5, as5esse5 their impact and likelihood and, where necessary recominends controls Io Tnitigat¢ and rnonitOT those risks thai are identified a5 high. Cornpany numbei.. 044619i2 Charity number.. 01093554
Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS, REPORT (cnntinued) for the year-ended 31 August 2021 Prirtcipal i'isk5 and uncertainties The board continues to identify and review Ihe majoT risks to whTch Iht school is exposed. In particular, and in common with all independent schools. the school faces potential financial risks caused by external forces, including the possibility of V A T being levied on school fees and the p055ible removal of Business Rates Relief. Thesr could becorne significant if pupil nuinbers diminish to any significant extent. We mitigate this through the provision of a d¢sirAble education and the marketing of this provi5jOll. The School a150 face5 a growing number of ¢ompli2nee and legislative r¢quireinen15 which the school's management need to be aware of and adhere to. In the opinion of the Board, the school ha5 e5tabli5htd resource5 and review systems which. under nonnal condition5. should allow these risks to be managed to an acceptable level in its day-io-day operations. Company nurnber.. 04461932 Charily numbei.. 01093554
Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS, REPORT (conlinued) for the year-ended 31 August 2021 STATEMENT OF GOVERNORS. RESPONSIBILITIES The Governors (who are also directors of Salisbury Caih¢dral School Limited for the purposes of company lawl are responsible for preparing the Governors, Annual Report and the financial staternents in accordance with applicable law and United KingdoTn Accounting Standard5 (United Kingdom Generally Accepted Accounting Prdcttce). Company law requires the Governors to prepare firtantial statements for each financial year. Under cotnpany law the GoveTnor5 rnU5t not approve the financial statements unless they are satisfied thal they give a true and fatr view of the slate of affairs of the charitable company and of the incoming resources and appli¢aiion of reSoUt$, including the income and expenditure, of the charitable cornpany for that period. In preparing these financial statements, the Governors are required to.. select suitable accounting policies and Ihen apply them consistently: observe the methods and prin¢iple5 in the Cliarilies SORP; make judgments and estimates that are reasonable and prudertl; state whether applicable UK A¢counting Standards have been followed, subject to any material d¢partUTes dtsclosed and explained in ihe financial statemenis,. and prepare the financial staiements on the going conceTn basis unless it is inappropriate to presuTne that th¢ charitable cotnpany will continue in busine55. The Govemors are responsible for keeplng proper accounting record5 which disc105e with reasonable accuracy al any time the financial p051tion of the charitable COTnpany and to enable them to ensure the financial statements comply with the Compani¢s Act 2006. The Govemors are also responsible for safeguarding the asseis of the chariiable company and hence for taking reasonable steps for ihe preveniion and detection of fraud and other irregularities. The Governors confirrn that they have complied with ihe duty in section 4 of the Charilj¢5 Act 2006 to have due regard io the Charity ComiMission'5 gen¢Tal guidanG¢ on public benefit. The Governor5 have referred to tlie guidat]c¢ in the Charity CoTllillis5ion'5 geiieral guidance on Public Benefit when reviewing the School's aitns and objectlV¢s and in plaiining Ilie School's future acliviries. Iii particular, the inenibers of tlie Governing body have considered how planned aciivities will contribute to ihe aims and obje¢tives they have ser. STATEMENT ASTO DISCLOSURE OF INFORMATION TO THE AUDITOR In accordance with compaiiy laiv, as the company's Govemors, we certify that.. So far as we are aware. there is no relevani audit information of which the school's Audiior is unaware: As the directors of the company we have taken all the sieps tha¢ we ought io have taken in order 10 Fnake ourselves aware of any relevant audjt information and to establish ihai the school's Aiiditor Is aware of that Jrtfortnatiun. AUDITOR RSM UK Audit LLP has indicated its willingne5S to continue in office. alld will be proposed for reappointtnent at the annual general Ineeting. This report has been prepared in a¢¢ordance wilh the provisions applicable to companies entitled to the small companies exemption. APPROVAL The report of the GoverrtOTS was approved and signed on its behalf by.. Date '. Dr James Fl¢t¢her, Member of Finance and General Purposes Committee 2 20 Company number.. 04461932 Charity number.. 01093554
INDEPENDENT AUDITOR'S IiEPORT TO THE MEMBERS OF SALISBURY CATHEDRAL SCHOOL LIMITED {A COMPANY LIMITED BY GUARANTEE) Opinion We have audited tli¢ financial $141emen15 of Salisbury Cathedial School (the 'charilable company,) lor the year-ended 31 August 2021 which comprise the Statement of Financial Activities, the Balance Sheet, Ihe Cash Flow Siaiement and notes lo ihe financial statements. including significant accouniing policies. The financial reporting framework that has been applied In their preparation Is applicable law and Unitcd Kingdoin Accounting Standards. including FRS 102 'Tlie Fiiiancial Reporting Standard applicable in the UK aiid Republic of Ireland" (United Kingdom Generally Accepted Accoullling Praciicel. In our opinion the financial stat¢ments'. give a true and fair view of tlit state of the charitable company's affairs as al 31 August 2021 and of its Incoming resources and application of resources, inEluding it5 incorne and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordanct wath tht requir¢rnents of the Coinpanies Act 2006. Ba515 for opinion We conducted OUT audit in accordance with International Standards on Auditing IUKI {T%As (UKII and applicable law. Our responstbiliiies under those siandards are funher described in the Auditor's responsibilities for Ilie audit of the financial siaiemenis section of our report. We are independtnt of th¢ Charitable company in accordance with the ethical rtquiretnenls thai are relevant to our audit of lh¢ financial slalemeiils in the UK. ijicludillg Ilie FRC'S Etliical Siaiidard and ive l)ave fulfilled our other cihical respon5ibilit1¢5 in accordance with these r¢quiremen15. We b¢lievt that th¢ audit evidence we have obiained is Sufficient and appropriaie to provide a basis for our opinion. Conclllsion5 relg¢ing to going contern In audiliiig the fiiianctal 5taleiTrieiils. we ljave coiicluded that the trust¢es' use of the going eon¢em basis of accouniing iii the pr¢paraiion of the financial statements is appropriate. Ba5td on th¢ work we have pcrforrned, we have not identified any material uncertaintie5 relating lo events or conditions thai, individually or collectii'ely, may cast significant doubi on the charitable company's ability 10 Continue as a going Concern for a period of at least twelve month5 from w'hen the fEnancial stlc tements are authorised for issue. Our respOnsiblitieS and the responsibilities of the trustees with respect to going ¢oncern are d¢scribed in the relevani s¢clion5 Qf thi5 report. Other infDrmAtion The otlier iiiformaiion coinpTl5es tlie information included in the Governors. Report other than the financial statements and otji. audiioi s I'epoft thereon. The tlustees are responsible foi. Ihc other infortnation contained withiii the Governors, Repoil. Our opinion on the financial staternents doe5 noi cover the oiher information and, except io the extent otherwise expliciily stated in our repon, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other Information and, in doing so, con51d¢r whtther the otheT inforjnaiion is rnal¢rially Incon515t¢nt witli tlie financial staternents or OUT knowledge obtained in the course of the audit or otherwise appears to be Inaterially misstated. If H'e identify such material inconsistencies or apparent material misstatements. we are required 10 deierinine whether this gives rise io a material misstatement in the finan¢ial staternents themselves. If, based on the work we have performed, we conclude thai ihere is a material misstatemeni of this other information, we are required io report tha¢ fact. We have noihing to report in this regaFd. Opinions on other mAtters preseribed by the Compinies Aet 2006 In our opinion, based on the work undertaken in the course of the audit.. the informaiion given in the Govemors, Report, which includes the Directors, Report and the Strategic Report prepared for the purposes of cotnpany laiv, for the financial year for which the financial statements are prepared is consisieni with the financial statements., and Ihe Directo, Report and the Sii'ategic Report included withii) tlie Governors, Report have been prepared in accordance with applicable legal requirements. Company nutnber.. 04461932 Charity number.. 01093554
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SALISBURY CATHEDRAL SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) Matter5 on which we Are required to repori by ¢x¢eptio In the light of the knowledge and understanding of the charitable company and its environment obtained in the ¢OUTS¢ of the zudii, we liave not identified fftaterial nii551at¢ments in th¢ Directors. Report or the Strdiegic Repoll included within the GoveriioTS' Report. We have nothing to report in respect of the following matters where the Cotnpanies Att 2006 requires us to report to you if, in ollr opinion.. adequate accounting Tecords have not been kept, or returns adequate for our audit have not been ctIVed froTn branches not visiied by us., or the financial statements are not in agreemeni with the accout)ting records and reiums. or Certain dis¢losur¢s of tTUStee5' reinuneration specified by law are not Inade,. or we have not received all the information and explanatioos we require for our audit. Responsibilities of trustees As explained Inore fully iii th¢ Stateineiit of Goveriiors. responsibilities sei out on page 8-9, the Governors (who are also the dlreclors of the charitable coillpany for the purposes of coinpany lawl are responsible for Ihe preparation olthe financial statement5 and for being satisfied that they give a true and fair view, and for such internal CDDtrol as the Irusiees deiertnine is necessary to enable the prepar)tion of finan¢ial stsi¢menis ihai are free from material misstatement, wheth¢T due to fraud OT eTror. In preparing ihe financial statements, the irusiees are responsible foi. agsessing the charitable company's ability to continue as a going concern, disclosing. applicable, Inalters related to going concern and using the 80it]g concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor'5 responsibilities for the audit ofthe financial staternents Our objeciives are 10 obtain reasonable assurance about wheiher Ihe financial statements as a whole are fre¢ IToin Inateria misstatement, wheiherdue to fraud orerror, and to issue an auditor's report ihal includes ouropinioii. Re2SDnable assurance is a hi¥h level oEassurance, but Is not a guarantee tliat aD audil conducted in accordanc¢ with ISAS IUKI will always detect material rni5Stateinent when it exists. Mis5tlc tement5 can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expe¢ied io influence ihe economi¢ decisions of users taken on the basis of these finan¢ial siaiements. The extent to which the audit wa$ Considered eapable of dete¢ting irregularities, ineluding fraud Irr¢Bularities are in5taH¢¢s of Tron-cotnpliance with law5 and regulalions. The objectives of our audit are lo obtain sufficient appropriate audit evidence regarding cornpliance with laws and regulations that have a direct effect on the determination of rnaterial amounts and disclosures in the financial statements, io perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effeci on the financial statements, and io respond appropriately to identified OT suspected non-cotnpliance with law5 and regulalions identified during the audil. In relation to fraud, the objectives of our audit are to identify and &8sess ihe risk of material misstatement of the financial statetnents due to fraud, to obiain gufficient appropriaie audil evidence regarding the assessed risks of maierial misstatement due to fraud through designing and implementing appropriate responses and to Tespond appropriately to fraud or suspected fraud identified during ihe audit. However, it is the primary responsibility of rna[gement, with the oversight of those charged with governance, to ensure Ihai the eniily's operations are conducted in accordance wilh ihe provisions of laws and regulaiions and for Ihe prevention and detection of fraud. In identifying and assessing risks of material misstatement In respect of irregularities. including fraud. the audit engagemeni team.. obtained an understanding of the nature of ihe sector, including the legal and regulatory framework that the charitable Cotnpany opeTaies in and how (he Charitable company is complying with the legal and regulatory frame%vork. inquired of managemeni, and rhose charged with govemance, about their own identification and &sscssment of the risk5 of irregularities, including any known actual, suspected or alltged insiances of fTaud. discussed matters about non-compliance with laws and regulations and how Iraud rnight occur including assessment of how and where the financial siaiements may be suscepiible to fiaud. Company number.. 04461932 Charity number.. 01093554
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SALISBURY CATHEDRAL SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) As a resuli of these procedures we consider the mosi significanr laws and regulations thai have a direct impa¢1 on the financial staitrnenls ale FRS 102, Charities SORP IFRS 1021, Coinpanies Act 2006, Charities Act 2011, the governing docuinent and tax legislation. We perfoi'ined alldit procedures io detect non-compliances which may have a rnaierial impaci alert to nem, or unu5Ul1 I tran5action5 whicli may not be 2n accordance with the governing documents atid evaluating advice received from external advisors. The most significant laws and TegulatiotJs that have an indirect impact on the fjnancial statement5 are The Education Ilndependent Scliool Standard51 Regulations 2014, Keeping Children Safe in Education under Section 175 ofthe Education Acl 2002, and the UK Gcneral Data Protection Regulation (UK GDPRI. W'e performed audit procedures lo inquire of tnanageinent and th05¢ chiirged with governance w'hether the charitable cotnpany is in compliance with these law5 and re8ulalion5 and inspected corre5pondtnce with regulatory authorities. The audii engagement team identified the risk of tnanagemtnt override of contro15 and revenue recognition for the cul off of incoine as the areas ivhere the fiiiancial staiemenis ivere mosi suscepiible to material Inisstaiem¢nt due to fralld. Audit procedures perfoitned included but were not liinittd to testing rnanual journal entries and other adjustrnents, tvaluatiiig7 the bu5inEss rationale in relation 10 Significant, unusual transactions and transactions entered into outside the norinal course of business, challenging judgments and esiimates and substantively testing the Income recorded in ihe year and around the year-end. A further description of our responsibiliiies for ihe audit of the financial staiemenis is located on the Financial Reporting Couii¢il'5 w¢b511¢ at htt ..Ilwww.frc.o .uk/auditor5re5 nsibiliiies. This description forms part of our auditor's report. Ilse of J'eport This repon 1% made solely io ilie ¢hariiable company's Inembers, as a body, in accordance with ChapteT 3 of Part 16 of the c.ompanies Act 2006. Our audit work ha5 been uiidertakeii 50 tliai iwe might 51ate to the charitable compaiiy's Inembers tliose Inatters we are required 10 stale io tliem in an auditor's report and for no other purpose. To il)e fullest extent permiued by law, we do noi accept or 5me responsibilily to anyone other than the charitable company &nd the charitable company's members as a body, for oui. audit worl for Iliis report, or for rhe opinions we have forined. KERRY GALLAGHER (Senior S121urory Audirorl For aiid oil behalf of RSM UK AUDIT LLP, Siaiutory Auditor Chartered Accounlanls Davidson Houst Forbiiry Square Reading RGI JEU Dale 30 November 2021 Compatjy Ruznber.. 04461932 Charity number.. 01093554
Salisbury Cathedral School Limited (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (and statemeni of income and expenditure) lor the year-end¢d 31 August 2021 Unrestritted Restritted Endowtnont Fund$ Fund5 Fund5 Tolal 2020 2021 Notes INCOME AIYD ENDOWMENTS FROM: ChAritgble ACtÉvities: rees receivable Other educational incorne 2,678,833 152,962 2,678.8ii 2,410,832 152.962 202,779 Other trAding Acti&ities', Investmeni income Rents, lettin8s and other income DoThAtions Governm¢nt grant$ 3b 10,671 10.678 74.922 13.550 5i.45i 2,717 3,886 40,574 125.003 74,922 -1,575 55,455 9,225 750 TotAI income 2,965,754 19,896 750 2,986,400 2,785,791 EXPENDITURE ON: Charitable activities: Teaching c0515 Educational support cost5 Preinise5 1,461,845 1,222,813 340.318 1,461,845 1,288,338 1,261,570 1,075,344 )40,318 265,494 38.757 Tot¥1 expenditure 3,024,976 38,757 3.063,733 2,629.176 G#in5 on investtnents Unrealised gains on investments 39.711 39.711 8,169 Net income 159.2231 118,8601 40,461 137,6221 164,784 Net movement in funds 159,2231 118,8601 40,461 137,6221 164,784 Funds brought forward at I Septeinber 2020 472.005 81,602 225,616 779.223 614,439 Futkd ¢#rrled forward at 31 August 2021 412,782 62,742 266.077 741.601 779,223 All income alld expenditure arises froin the charity'5 continuing aciivities. The notes on pages 17 JO form part of these financial slalemenls. CoTnpany numbeT.' 044619i2 Chariiy number.. 01093554 14
Salisbury Cathedral School Limited (A company limited by guarantee) BAI.ANCE SHEET a5 at 31 August 2021 Notes 2021 2020 FIXED ASSETS 23,348 107,724 266.177 29,656 94,809 226,466 Tangible assets InNesiments 10 397.249 )50,931 CURRENT ASSETS Stock Debiors Cash ai bank and in hand 31.894 123,444 781,058 29,240 192,288 717,181 936,396 938.709 CREDITORS.. Amounts falling due within one year 14 {551,7941 1458,0021 384,602 480,707 NET C.URRENT ASSETS TOTAL ASSETS LESSCURRENT LIABXLITIES 781.851 831,638 CREDITORS, Amounis falling due after Inore than one year 140,2501 152,415} NET ASSETS 741,601 779,223 Reprt5enting'. ENDOII'ED FUNDS 266,077 225,616 RESTRICTED FUNDS 18 62.742 81,602 UNRESTRICTED FUNDS General Fund 412,782 472,005 TOTAL FUINDS 19 741,601 779,223 These financial slalemeThis have been prepared in a¢¢ordan¢t with the special provision5 for small companies under part l i of the c.ompanies Act 2006. The financial statelllents isere approved and authorised for issue bj the Board of Governor5 on %ts. ii. % and signed on its behalf by: Dr Jatnes Flctcher, Governor J Munro-Higgs, Chair of Go er Compaiiy number.. 04461932 Charity nutnber.. 01093554 15
Salisbury Cathedral School Limited (A company limited by guarantee) STATEMENT OF CASH FLOWS for the year•ended 31 August 2021 2021 2020 Note CASH FLOWS FROM OPERATING AcfiviTIES Net cash provided by operating activities 22 84,908 208,230 CASH FLOWS FRONI INVESTIliG ACTIVITIES Purchase of tangible fixed assets Pui¢hase of intangible fixed agsets Inieresi received Dividends received Proceeds on sale of tangible SetS 131,709) {17,0251 131,5381 10,671 2.699 NET CASH (USED INYPROVIDED BI, INVESTING AcfiviTIES {45,8461 INCREASE IN CASH IN THE YEAR 63.877 162,i84 CASH AND CASH EQUIVALENTS AT I SEvfEMBER 717.181 554,797 CASH AND CASH EQUIVALENTS AT31 AUCUST 781,058 717.181 Company number.. 04461932 Charity numbeT'. 0109i554 16
Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year-ended 31 August 2021 ACCOUNTING POLICIES GENERAL INFORMATION Salisbury Cathedral School Limited is a private charitable company limited by guarantee, incorporated and registered in England and Wale5. The addrcss of the charitable company's registered offic¢ and principal place of business is l The Close, Salisburs,, Wiltshire, SP12EQ. The company'5 principal activities are disclosed in the Governor's Report. BASIS OF PREPARATION These financial statements have been piepared in accoi"dance iyith FRS 102 'The Financial Reporting Standai'd applicable in the UK and Republic of IITland' ('FRS 102,1 and under rhe hisiori¢al cost convention, thiih the exception of investments ivhich are includcd at markft value. In accordance with the Sratement of Recommended Practice Accounting and Reporting by Charities ISORPI las amended for accounting periods commencing from l January 20191 and ihe requiiemenis ofihe Companies A¢¢ 2006. Salisbury Cathedral School Limited Ineets the definiiion under FRS102 of a public benefit eniily. These financial statements are prepared in sterling which is the functional eurrency of the charitable company. Monctary arnounls in these financial statements are rounded to the nearest whole £ l. except where otherwise indicated. GOING CONCERN In con5id¢rin8 whether the going concern ba515 is appropriate, the Governors have considered income and expenditure and cash-flow projections prepared for the period to 31 August 2022 with longer term projections to 31 Au¥ust 2026 also being con5id¢red. The5t projections have been based on known and expected pupil llumbers and costs and indicaie thai the school will have Su1¢IenT ¢ash and reserves to be able to meet its liabilities as Ihey fall due. In light of the above the Governors have concluded that there are no ¥Dat¢rial uncertaintle5 over the school's ability to coiitiiiue as a going concern for a period of ai least 12 months and as such it is appropriate to use the going concern basis in ihe prepataiion of these finAncial statements. INTANIBLE FIXED ASSETS Intangible assets acquired separately froin a business are recognised at cost and ale substqUEntly measured at Cosi less a¢¢umulated amortisation and accuinulated irnpairment105se5. Amortlsation 15 recognised so as to Write off the c05t of assets less their residual values over their useful lives on the following bases.. Computer software 20¢/0 Straight line basi5 TANGIBLE FIXED ASSETS Motor vehicles, major iteEns of office equipment and major property improvem¢n15 have been capitalised and are being depreciated over their esiimated useful economic live5. Routine repair5 to properties are writien off in the year of acquisition. because it is not considered thai they have any recoverable value. Fixed assets are initially recorded ai cost. Iteins costing less than £3,000 are written off expense as a¢quiied. The following rates of depreciation are u5¢d.. Motor v¢hicle5 20Vu straight line basis Furniture and office equipment I OO/a 33P/o siraight line basis Property improvements IO¥Tr Stiaight line basis Coinpany Rurnber.. 04461932 Charity number.. 01093554
Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year-ended 31 August 2021 ACCOUNTING POLICIES l¢oniiKuefl) STOCKS Stocks are stated at the lower of direct Cost or net realisable value. Stock5 COTllPTise of catering raw material and consuJnable5 and uniform Stock. Provisions are made for obsolete stock. INVESTMENTS AND INVESTMENT INCOME Investrnents are included at tnarket value al the balallce sheet date. Any gain or loss on revaluation is taken to the 5tatetn¢nt of financial activities. Investment income i5 account for in the period in which the charity is entitled to receipt. CONSOLIDATED FINANCIAL STATEMENTS The charitable company has taken advantage of the exemption ill Section 402 of the Coimpanies Act from the requirement lo prcpare con501idated financial statein¢n15. Consequently, these financial slaltments present the financial position and fjnancial performance of the charitable company as a single entity. OPERATING LEASES The rent payable under the leases for the school buildings, Boarding House and grounds are related lo the level of the fees. and is charged as expenditure in the period 10 which it relates. Rent payable under other operatin8 lease5 is charged as expenditure on a straight line basis over the lease terms. FEES AND SIMILAR INCOME Fees receivable and charges for services are accounted for in the period in which the service is provided. Fees re¢eiwable are stated 8lter dedu¢iing allowances, scholarships and other reinissions granied by the school from it5 restricted funds. DONA TIONS AND FUND ACCOUNTtNG Donations rece&ved for the general purposes of the charity are included as unrestricted fundg. Donations for purposes restricted by tl)e wishes of tlie doiivr are takeii lo "re5tricled fuiids" wliere tli¢se Ivi51ies arr legally binding the GoveTlloTS. Donaiions required 10 be retained as capital in accordance wilh Ihe donor's wishes are accounied for as"end0men1s" pemianent or expendable according to rhe nature of the restriction. Designated funds are those allocated to specific projecis our of unrestricTrd funds, in accordance with Governors. decisions. EXPENDITURE Expejiditure is allocated to the cliaTity's priiicipal activitj wliere ihe costs Can 6e ideniified as being directly related io thai aciivity. All costs that cannot be ideiitified as relating directly to th¢ Charity's principal activity are ¢a¢egorised as either support costs or governance costs and are allocated based upon suitable ratio applicable 10 the naiure of the cosi involved. The irrecoverable element of VAT is included with the iiein of expense to which il relates. Governance costs comprise the costs of running the ¢httrity Tncludlng stTategic planning for its future development and external audit. any legal advice for tht Governorb, and all Ihe costs of complying wilh constilulional and sraiuiory requiremenis, such as the costs of Board And Commillee meeiings and of preparing statutory accounts and satisfying public accouniabiliiy. Company number.. 04461932 Charity numbeT'. 01093554
Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year-ended 31 August 2021 ACCOUNTING POLICIES (continued) PENSION COSTS Coiilribulions to Ilie Teacliers, Pensioii Schenie and io the defined contributioii schemes operated on behalf of other staff are char¥ed a5 exptnditure in the period to which they relate. CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash in hand, deposits held ai call with bank5 and. other 5hort-terrn It4uJd Investments wilh original tnaturities of ihree months or less. ACCEPTANCE DEPOSITS Acceptancc dep051ts are paid to the school 10 secure a place forthe child at the school. Deposits held form part of the general funds of the school until the child leaves the school at which point they are Credited 4'ithout interest to the final paymeni of the fees or other sums due to the School. Deposits are held as creditors on the balance sheei and are cla5sifJed as owing within one year and over one year based on ,h¢n they are expecied lo be crediied againsi income. FINANCIAL INSTRUMENTS The charitable company only has financial assets and finan¢ial liabilities of a kind that qualify as basic financial instrumentg. Basi¢ financial instruments are initially recognised ai transaction value and stjbsequelltly measured ai their settletnent value with the exception of listed investments which are subsequently measured al lair value. FINANCIAL ASSETS Fees and oiher debtors which are receivable within one year are recognised at the settlement amount due after any trade discount otTered. Prepayments are valued at the amount prepaid net of any irad¢ discounts due. A provision for impairment of debtors is established when there 15 objective evidence that the amounts dut will not be collected according to the Dr¥gin41 terms of Ilie contracl. lrnpairmeni losses are recognised in income and expenditure for the excess of the Carrying value of the trade debtor over the present value of the future cash flows discounted using the original etTe¢tive interest rate. Subsequent reVeal8 of an impairrllent loss thai objectively relate io an event occurring after ihe impaimieni loss was recognised, are rc£o8nised immedtately In in¢oine or ¢xp¢ndilur¢. FINANCIAL LIABILITIES Creditors and provisions are re¢ogni5ed when the charitable companv has a present obligation Tesulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised ai their 5etilement amount after allowing for any irade discounts due. TERMINATION BENEFITS Termination benefits are recognised imtncdiately an expense ivhen the charitable company has demonsirably cotninitted to lerininating the employrneni of an employee or to provide terminatloll benefi15. Company nuinber.. 04461932 Charity number.. 01093554 19
Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year-ended 31 August 2021 ACCOUNTING POLICIES Icontinuedl GOVERNMENT GRANTS Government grdnts 8r¢ Tecognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant condiiions will be mei and ihe granrs will be received. Salisbury Cathedral Sch1 Limited received a discretionary cash grant of £55,45512020.. £125,003) froin ihe govemmentas part of the Coronavirus job retention scherne ICJRSI. The CJRS compensates employers for 80D/o of an ernployee'5 wage5 UP to the value of £2.500 P¢T month, a5 well as the associated national insurance contributions INICS) and employer pension contribution5 of eTnployees placed on furlougli. Furlough is ihe ietnporary leave of 3b5enc¢ of an etnployee fioin working foi Iheii employer. The grant is condilionalupon the employees remaining employcd and on the cornpany PA YE payroll. and tht rrnployee not ¢ompletittg any work for their employer ivhich makes Jnoney or the provision services for their employeror any company as50ciaied with thcir einployeT. There are no unfulfilled condilions or Contingencies attached io ihe grani, and ihe company did not receive any other form5 of government as515tance. CRITICAL AREAS OF JUDGEMENT In preparing the financial s¢)iern¢nts, the Iiusiees are required 10 make eslimales and judgeinenls. The tnatteT5 detailed below are eonsidered to be the most important in understanding the judg¢rnents that are Involved in preparing the financial statements. Bad debt Provisions The school has recognised bad debt provisions where there is uncertainty whtiher specific accounts receivable are collectible. The judgetn¢nls, esiitnaies, and associated assumptions necessary to calculate these provisions ar¢ based on historical experience and other reasonable factOT5. FEES RECEIVABLE 2021 2020 Gross fees r¢¢eivable Less.. Allowances Means iesied bursaries Scholarships Discounis 3.177,696 2.907,354 14,043) {316,2951 1253,6421 12,3671 {147,233) 1214,7871 191,6041 2,644,247 2,410,832 34,586 2.678,8ii Add back discounts and scholarships paid out of restricted funds 2,410.8J2 All income from fees receivable was unrestTjCted in boih 2021 and 2020. Company number.. 04461932 Charity number.. 01093554 20
Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year-ended 31 August 2021 lal OTHER EDUCA TIONAL INCOME 2021 2020 Reimbursements.. Chori5tei Holiday5 Sundry Incoine 45.000 4,025 49.025 49,386 25,957 75,343 R¢¢overable extras and related income Rcgistration fees Uniform Shop income 69,571 5,050 29,316 103,937 152,962 97.737 8.950 20,749 127,436 202.779 All income from other educational activitie5 was unrestricted tn both 2021 and 2020. Ibl INVESTMENT INCOME 2021 2020 Bank interest received Dikidend income 10,671 2.699 10,678 2,717 The income from investments wa5 £10,67812020.. £2.7171 of which £7 (2020.. £181 was unrestricted and £10.67112020.. £2.699) Iva5 restricted. GOVERNMENT GRANTS 2021 2020 Coronavirus job retentloll 5chem¢ grant 55,455 125,003 Salisbury Cathedral School Limited furloughed a number of siaff under the Government's Coronavirus job retention scheme ICJRSI. Th¢ income from the Coronavirus job retention scheme ICJRSI was unresiricied. The income received relates to staff costs in respeci of ihe siaff who were furloughed. Company number.. 04461932 Charity number". 01093554
Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCJAL STATEMENTS for the year-ended 31 AugJust 2021 ANALYSIS OF TOTAL EXPENDITURE Staff costs Depreciation nd Atnort15ation Other eosts Total 2021 TotAI 2020 Charitable expenditure.. Tek)ching costs 1,437,174 24,671 1,461,845 1,288,338 Educational support Costs.. Staff training & Tecruiiment Household ¢xpense5 Property and ground5 Other school running costs Marketing cosis LoS(proFJtI on disposal of fixcd a5set5 Premises Governance costs 15,875 130,075 15,875 130,075 61.028 975.550 52,192 25,246 294,854 124.215 557,J66 61.028 521.790 453.760 52.192 5.371 25,102 315,216 340,318 265,494 26,850 26,850 33.556 25,102 1.018,639 3.063,733 2,629,176 2,019,992 The expcnditure on charitable activities wag £3.063,7iJ 12020.. £2.629,176} of which £3,024,97612020.. £2.608,1761 was unrestricted, £38,757 (2020.. £20,250) was restricted and £nil120?0.. £7501 wa5 from the endowmen¢ funds. STAFF COSTS 2021 2020 Wages and salaries Social security C05t5 Pension costs 1.723,422 1,445,799 130.849 165.721 210.830 2,019,992 1,771,939 Included in staff costs are terininatton paytnents totaling £nil {2020'. £7,203) paid to O 12020.. 11 individual5. 2021 Number 2020 The avcrage numbers of ernployees, analysed by function, were.. Teaching Household MainlenF4nce Administration Oiher i umber 42 17 45 14 12 78 74 The nutnber of einployees whose emoluments {excludin8 pension contributions} exceeded £60,000 were.. 2021 Number 2020 Number £60.000-£70,000 Contributions to T¢arher5' Pensiorts were made in respect of these etnployees of £21,077 12020.. £19,320). Company number.. 04461932 Charity numbeT.' 01093554 22
Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year-ended 31 August 2021 STAFF COSTS Iconiinuedl The Governors have not received rernuneration for their services in either year. No Gov¢mors were ieimbut5ed any travel or expenses in eiiher year. RemneratiOn of ke), m#nagement personnel The remuneration of key managerncnt personnel is as follows.. 2021 2020 Aggregat¢ compensaiion lincluding employer's Nll 331,562 287,139 EXPENDITLryiE 2021 2020 Charitable activities expenditure include5'. Operalingy lease charuJes- Building & land Operating lease Lharges Oiher Depreciation and atnort15ation Loss on disposal of fixed assets 107,920 4,625 25,102 143,559 11,547 20,047 5,371 Governance costs include.. Auditor's remuneration.. Audit services Other 5¢rvice5 26,850 13.000 4.000 INTANGIBLE FIXED ASSETS Computer software COST A¢ I September 2020 Addition5- separately acquired 31,538 At 31 August 2021 31,538 AMORTISATION Ai I September 2020 c.harg¢ for the year 1,882 6,J08 At 31 August 2021 8.190 NET BOOK VALUE At 3 l August 2021 23.348 At 3 1 August 2020 29.656 Company nutnber.. 04461932 Charity number.. 01093554 23
Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENI"S for the year-ended 31 August 2021 TANGIBLE FIXED ASSETS Property Improvements Motor vehieles FurnKthr¢ and e4uip¥nent Tot41 COST At I September 2020 Additions Disposals At 31 August 2021 497,924 7,344 51,339 258,374 24.365 181,3771 201362 807.637 31.709 181,)771 757 969 505,268 51,339 DEPRECIATION At I S¢ptembeT 2020 Charge for the year Elimination on disposal At 31 Augu512021 4JO,191 10,189 51,339 231,298 8.605 181,3771 158,526 712,828 18,794 (81.377) 650,245 440,380 51,339 NET BOOK VALUE At 31 August 2021 64,888 42,836 107.724 At 31 August 2020 67,733 27.076 94.809 10 (a} INVESTMENTS IN FUNDS CoTllmO Investn]ent Funds Markei value ai I September 2020 Gain on revaluation 226.366 39,711 266,077 Market value at 31 August 2021 Cost at i l Augusi 2021 Cost at 31 August 2020 104,141 104,141 The holdings in charitable comnx)n inve5tinent funds con515t ol.. 2021 2020 CBF Church of England Investm¢nt Fund Unirs Valu¢ 11,584 266,077 226,366 Company number.. 044619i2 Charity number.. 01093554 24
Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for tlie year-ended 31 August 2021 10 Ibl INVESTMENTS IN SUBSIDIARIES 2021 2020 Investment5 in 5ub5idiaries 100 100 SUBSIDIARIES These financial statements are separale company financial statements for Salisbury Cathedral School Limited. Details olthe compaiiy's subsidiaries at 31 August 2021 are as follows. Name of undertaking Registered office Salisbury Cathedral School al Enierprises Ltd NAture of busin¢$5 Domant Cl#s$ of 5hHreholding Ordinary /v Held Direet 100.00 al l The Close, Salisbury, Wiltshire, SP12EQ STOCK 2021 2020 Uniforin Food 31,704 190 29,050 190 31,894 29,240 DEBTORS 2021 2020 Fte5 Prepayjnenls and accrued income Other debtors 86,858 30.956 5,()30 123.444 125,719 66,569 192,288 14 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Fee5 received in advance Trade creditors Amounts owed to 5ub5idiary Other taxation and social security Refundable deposits Accruals and deferred income Other crediiors 422,749 38,817 100 32,300 7,243 16,614 33,971 285,369 45,541 100 26,618 8,828 28.463 63,08i 551,794 458,002 Company number.. 04461932 Charity number.. 01093554 25
Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year-ended 31 August 2021 15 CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2021 2020 Refundable dep051ts 40,250 52,415 16 FINANCIAL tNSTRUMENTS 2021 2020 CAIIRYtNG AMOUNT OF FtNANCIAL ASSETS Financial assets measured at fair value through profit and loss 266.077 226,J66 17 ENDOWMENTS Movem¢nt in funds Balance atl September 2020 Transfers to other BalaJ)ee gt 31 August 2021 Income GAins Scholarship funds WindsoT Prize Fund Fitzgcrald Scholarship Trust Head Master's Fund 175,590 16,063 14,246 19,717 750 30.935 2.818 2,499 3,459 207,275 18.881 16,745 23,176 225,616 750 39,711 266,077 BAlance Atl September Expenditure 2019 Tr#n5fers to other funds BAlante J)t 31 August 2020 Gains Scholarship funds Wind50r Prize Fund Fiizgerald Scholarship Trust Head Master's Fund 169,976 15,483 13,7i2 19,006 {750) 6.i64 580 514 175,590 16,063 14,246 19,717 218,197 (750) 8,169 225,616 The above gains consist of revaluation5 in inv¢stTnent assets. The Endowm¢ni Funds are represented by fixed asset investments. The income of all the funds Inust be used for restricted purposes as explained in note 18. Company number.. 04461932 Charity nuTnber'. 01093554 26
Salisbury Cathedral School Limited (A company limited by guarantee) NOTE5 TO THE FINANCIAL STATEMENTS foi. Ihe year-ended 31 Augusi 2021 EiESTR]CTED FUNDS Movement in fud5 (&) Usage of funds Balance Atl S¢ptember 2020 Tran5fer5 to other funds Bftlance At 31 August 2021 Income Expenditure Scholarship fund5 Vindsor Prize Fund Fitzgerald S¢holarship Trust Head Master's Fund john Robinson Fund Ouseley Trust Tindall Trust Hardship bursary (hher 9,164 484 2,304 4.444 114,4951 25,690 2,362 7,400 4,444 2,168 11,000 9,677 1.878 5.096 2.168 21,417 8,177 450 7.224 2.000 1,500 112,4171 {450) {7,224) 81,602 19.896 138,7571 62,741 Movement in funds (91 Us#ge of funds Balance Atl Sepiember 2019 TrAn5fer5 to other funds Bhlnnce At 31 Augus¢ 2020 Income Expenditure Scholarship funds Windsor Prize Fund Fitzgerald Scholarship Trust Head Master's Fund John Robinson Fund Ouseley Trust Tindall Trust Hardship bursary Other 29,769 1.308 4,684 3.706 2,030 1,252 570 412 465 38 18,000 13,427 450 31.021 1,878 5,096 2,168 21,417 8,177 450 7,224 112,0001 {8,2501 3,000 7.224 67.138 34,714 120,2501 81,602 Ib) Usage of funds SchDIAr$hip funds The income frotn the endowments ofthese funds is to provide particular academic and music s¢holarships to pupils at Ihe Caihedral School. HeAd Ma$ier's Fund Thi5 fund may be spent at the Head Master's discretion for the benefii of the Cathedral School or its pupil5. Wind50r Prize Fund Thi5 fund was sei up to provide two annual prizes for musical ability, one to a chorister the otheT to a non-chori5teT. The prize has been awarded against fees due. Coinpany number.. 044619i2 Charity rtutnber.. 01093554 27
Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FtNANCIAL STATEMENTS for the year-ended 31 August 2021 18 RESTRICTED FUNDS Icop7¢inued) John Robin50n MernoriAI Fund This fund was donated by the Sarum Voices committee to a5515t a new probationerlchorister, who rnight otherwise be finJDciilly challenged, to have instrumenial lesson5 for One year. Ou5eley Trust Fund This fund was set up to provide funding lo nained choristers. TindAII Trust This fund was set up to support ihe music department's ouireach work. Hardship Bursary This fund was set up 10 assist individuals who were in financial difficulties. particularly due to the impact of COVID-19. Other restricted fun(ts This fund was donated by a parent of an ex-student to bc used. at the dis¢reiion of the school, to help other families in n¢¢d of flnancial &8sistance. 19 ANALYSIS OF NET ASSETS BETWEEN FUNDS Fund balance5 at 31 Augusi 2021 are represented by the following nei assets.. Unrestricted Restrict Endoivment Fund5 Funds Funds TotAI Intangible fixed a55ets Tangible fixed assets Investments Current assets C.UTrent liabilities Long term liabilitie5 23,348 107.724 100 873,654 {551,794) 140,2501 23.348 107,724 266,177 9i6,)96 (551.7941 {40.2501 266.077 62,742 412,782 62.742 266.077 741,601 Fund balances at 31 August 2020 are represented by the following net assets.. Unrestricted Restricted Endtswment Funds Fund5 Funds Totgl Iniangible fixed assets Tangible fixed assets Investments Curreni assets 29.656 94,809 100 857,857 1458,0021 {52.41 S) 29,656 94,809 226,466 938,709 1458,0021 152,4151 226,366 1750) 81,602 Long term li&bilities 472,005 81.602 225.616 779,223 Company number.. 04461932 Charity number.. 0109i554 28
Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the ycar-cndcd 31 August 2021 20 PENSIONS al London Pension Fund The School operates a defined contribution scheme with Royal London for its teaching staff. The pension charge for the year includes coniribuiions pa}able fo the scheme of £142,644 {2020.. £127,249) and at the year-end £20.35612020.. £11,425) was payable and included within Creditors. ort Staff Pension Fund The School operates a defined contribution scheme. Total einployer contribuiions for the year were £23.077 (2020.. £19,338}. The total pension contributions outstanding at 31 August 2021 amounted io £3.99012020.. £2.6291. COMMITMENTS Al ihe reporting date. the iolal of the school'5 future minimurn lease payments under non-cancellable optrating leases liras.. 2021 2020 Leases i¥hich expire.. Ivithin one year In one 10 five year5 124,624 28,476 158.102 345,433 153,100 503,535 22 NOTES TO THE STATEMENT OF CASH FLOWS Reconciliation of nel incotn¢ to net cash inflow frotn operating activitie5'. 2021 2020 Net income D¢pr¢cialion of tangible a55et5 Ainortisalion of iniangible assets Lossllprofitl on disposal of fixed assets Revaluation of investtntnt5 Interest received Dividends received Ilncreasellde¢rease in stocks Decreasellincreasel in debiors Incrtaselldecrease) cr¢ditor5 137.622) 18,794 6,308 164,784 18,165 1,882 5,371 18,1091 (7) 110,6711 12,6541 68.844 81,627 84,908 12,6991 140.8521 72,884 208,2JO Analysis of change5 in net funds At I Septen]ber 2020 Cash flow At 31 August 2021 C&h at bank and hand 717,181 63,877 781,058 Company number.. 04461932 Charity number.. 01093554 29
Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year-ended 31 August 2021 23 TRANSACTIONS WITH RELA TED PARTIES {Al TrAn5action5 Wlth the Member Th¢ School's land and buildiiigs are leased froiii Tlie Catliedral Church of the Blessed Virgin of Salisbury and frotn tTUSlS managed and controlled by them. The rent payable during the year-ended 31 August 2021 il'as £107.92012020.. £112.6671. The Cathedral Church of the Blessed Virgin Mary of Salisbury retnJbursed expense5 incurred by the School for adminisleFing the choirs and accommodating them during school holidays at a ¢ostof £63,00012020', £49.3861. The Caihedral also madt contributions to 5¢hool ftes of £240,28912020.. £288,i181. No amounts %Yere outstanding at the year-end12020.. £nill. Ibl Transaetlons wlth Governors Christine CoopEr School Uniforrn, a companv owned by a Governor of the school. made sales lo Salisbury Cathedral School in th¢ year of £4.66212020.. £3.0861. At the ycar-cnd £803 wa5 QUt5tanding12020.. £nill. One Governor lia5 contracted a5 interim financt rnanager for the School during the year on normal commercial terms. Sales totallcd £6,740 in the year with £nil outstanding at year-cnd Total donations re¢eived fiom Governors during Ihe year amounted to £nil12020.. £nill. No amounts were outstanding at the }'ear-end12020.. £nill. Ic) TransAttions with Subsidikry CornpAny At the balance sheei dale, Ihe chariiy owed Salisbury Cathedral School Enierprises Limiied £1 0012020.. £iooi. Company number-. 04461932 Charity number.. 01093554