REGISTeRED COMPANY NUM8ER: 03777308 (England and Walo$1
REGISTERED CHARITY NUMBER: 110￿2%
GOVERNORS, REPORT AND
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
FOR
SEVENOAKS PREPARATORY SCHOOL LIMITED

SEVENOAKS PREPARATORY SCHOOL LIMITED
CONTEKts OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Pgge
Govginors. Rèport
1 to 9
Report of thè Indopgndont Audltors
10 to 11
statemen¢ of Finan¢lal A¢tlvlVe$
12
Balonce Sheet
13
Cash Flow Statem?nt
14
Notes to the Cash Flow Statsm¢nt
15
Notes to the Flnanclal Statèmènts
16 10 30

SEVENOAKS PREPARATORY SCHOOL UMITED (REGISTERED NUMBER: 037773081
GoveRNORS' RepoRT
FOR THE YEAR ENDED 31 AUGUST 2023
The govemors who are 81$0 dire¢tors of the charity for the purposes of the Companies Act 2006, p￿Sent their report
the financial s1818ments of Ihe charity for th? year ended 31 Augusl 2023. The governors hav8 adopted the provisions of
Ac¢ounting and Reporting by Charitses.. Statement of R8comrn8nd8d Practi(* applirab18 to ch8ri1i8s pr8paring their
accounts in accordance with th& Financial Reporting Sland8rd applicable in the UK and Republic ol Ireland IFRS 1021
leffectiV8 1 January 20791.
OBJECTIVE5 AND ACTIVITIES
Oblectlves and aims
The School 5eek5 to promde an education for life. 11 a(ms to achieve thi5 through the Way of Life.. together wilh a
acadofnic approach that focuses on thg neads of tho individual. In adiJil¢on, th¢ Schoo¢ sets out to encourage evory pupil
lo be the b8St they can be. bolh inside and outside the classroom. The School's elh05 Is central to Ils hirns and
8rnph8SIZ85 Strong pasloral care of pupils, nurturing 8ach one arid supporting parenls and childrtsn alike.
Our airns are..
- to ensure the saleguardSng of all pupils.
to afford all pupils opportunities to su¢wd both inside and outside the Classroom.
lo recrult and relain the highest Calibre ol teaching and support staff who ernbody our Way of Lile.
- to provide Èxcellent pastoral ¢afe and nurtuie outstanding ￿latk)nshIpS between staff, pupils and par8nts.
- to be è wam. friendly. family school.
- to provide individualised leamirng which we believe Is best provided for in smal dass 3Ye$.
- to utilise technology lo aid student leaming and lo ensure that our ICT proviston complements existing and
futuro teaching siraiegi•s
- to progress the School's ¢ommilmenl to tsursaries.
to deveIop the S¢hool's involvement with local, national and intemationaj charitie5.
to malntsin and enhance the S¢hool's environment and facilities.
- to rnaintain a balanced budget approa¢h to managing its fi'nancial resources and expenditures.
Se¥enoaks P￿p Way of Life.
l ought to think at all time5 how rny 8v8ry action will 8ffoct othets in my lilè.. parents. friènds, relatK)ns. toach9rs and
everyone younger than myself.
l ought lo Ir8al all others as I would want to be Irealed mysev. and lake a personal inlerost in how other peopb feel.
l ought not lo louch anything thai is not mine. unless with permission or unkss l am being helpfvl,
l ought to be polite lo everybody al all times and be positive In my actions.
l ought to take responsibllity for my own maturity t)y ensurlro l asslst In the smooth wnning of Ihe $choDI and my
home.
l ought 10 take ownership of My studies. concentrating and appty1￿ myself to a¢hieve to the be8l of my ability.
l ought to obey in the right spirit the instructsons ol my loachers and parents.
l ought lo report immediately any damage or unfortunate behaviour to my teachers andlor my parents.
l oughi 10 romomber that in life my aim should be to solve pro￿$m$ not cause them, lo build bridges rather than knock
them down. lo trust others and lo be twsted. lo put tr* needs of others first and min8 last, to irnprove and mak8 better
whatevef or whoever l am invdved with.
l ought. al all bmtss. to be totally honesl to myself and to oth8rs.
CHARITABLE 08JECTS
The objects of the School as set out in the Artirjes ol As5cciation, are to establish and carry on in GTe4t Britain land any
other ¢ountriesl Schools at or by mean5 of which student5 m8y oblain education and instructions in langu8ges.
mathematics, geography and history, and al other Subjects whatSO8V8r that may be iKlud8d in a comrnercial, technical.
$¢ientffi¢, dassical or academic education.
In $8tts'Ag the objectivès the governors h8V8 giv8n car8ful cor¢5ideration lo th8 ChaHty Cornffli5sions' general guKla￿e on
publi¢ benefit.
Page 7

SEVENOAKS PREPARATORY SCHOOL LIMITED IREGISTERED NUMBER.. 037773081
GOVERNORS. REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
OBJECTIVES AND ACTIVITIES
Signlflcant a￿[¥1t1*S
Sevenoak5 P￿p conb.nues to develop 115 broad 8nd challengsng curriculum 10 eq￿P children with tho kFKwAedge. ski115
and experience needed for tomorrow. Our location, in 25 acres of well-managed playing fields woodlaTrd. provides
not only a vast playground but a150 the opportunity to extend the classroom and deliver hands￿￿ learnlng indo)rs and
out in the open.
We are focussed on improving the mental health and wellbeing of all our pupils and staff. A wellbeing team has been
Created and rnenlal health prefects appoiftled lo a¢bvety support the emotyonal w&llbÈlng and mental hèalth of the whole
school.
Arts
The ¢hoir inilialty satw outside at both OUT farnily day and the Christmas Bazaar and we returned lo St Niek*)18s' Church
for the Chri5trna$ Seryre.
Throughout the school year. we put on a number of music and drama performances and
produclSons suc* as the Pre-prep'5 summ8f show as well as the S8nior S¢hool production of'The War of th8 WOr￿S, 8nd
the Middle School production of ￿liver1. The annual House Music Compebtion loc￿ place in October and the House
Drama compets.tion look place in July allowing the pupils in Year 8 lo develop th&r leadership skills by running their
Houses reheatsals and performance. Our Art scholar3 ware lucky enough to Vl8lt a variety of exhibitions to enhance
their studies atKI the Schoofs entry in th8 DSWF Gk)bal canvas art compÈblion was a finalist. Prep Idol, our annual
poplro¢k C￿Cert, totsk place in the sumrner lemi. and our largest Èver audierKe. neafy 500 people. witnessed th8
largest number ot bands and perfomiers ever take the st8g8 and perform brillianlly. Pre pr8P Students from KG - Year
2 perfom*d in Christrnas shows and in sufntner shows.
Sports
Tennis
On the Tennis front w8 ach8ived an excellent r¥sul¢ at the Kent Championships with iwo boys retaining their title a5 Kent
Scho￿5 Tenni5 Champions and another pupll was selected for the U9 Kent tennis Programme.
Football
We hèd a su¢cessfvl temi of Football in th8 Colts Football tournaments al Hilden Grange and Somerhill. We entered 5
teams a93inst all the local Prep schools with some excellent perfomian¢es." the cdis A team won the Cup, Colts B lost
a clos? s8mtfinal. thÈ Colts C also lost a light Setni Fir¥al, with Ihe Colts E finishing runners up in their Plate competilion.
In the annual Sl Michaes's U10 and U11 Ioufnaments we had teams reach the semifina15 losing on penaM'8s and
>lden Goal. The Senior first ieam had a difficult season tNJt tnade the semffinal of Ihe New Beawn toumarnent. The
Senior 2nd team went unbe8ten which 15 P05itsve indication for next year.
Cross Country
The Prep had an excellent season of (xoss country with ifflpres5ive individual and team performanc8s Ihroughoul Ihe
SQason. We once again held a very successful Thomas Trophy here at the Prep over 400 runners, froln local
Independent and 51ate schod5. wllh all part5upan15 electronically lirne¢J. The U11 Boys team won the*r race with
Individual rneda15 for 1s1 and 3rd places. In thè U13 Boys ra¢é a Prep pupil finished 2nd an¢J the U13 Girt5 were the
overall wnners.
Dobson Trophy
For Ihe first Ume in many year5 we entored the Dobson trophy run at Claremont. After a long drive down to Sl
Leonanjwn-sea the U9 gid5 finished 2nd, U11 Boys winning their race wilh 1st and 2nd places.
Brncken Cup Somerhlll
In the Bracken and Woodmanssie cup held at Somerhill the U11 boys put in th8ir most impr8ssN8 ￿rf0mlOnee of the
season wllh four t)Oy8 finishino in Ihe top four places leading lo an impressive le8m score.
Hlldon Grangg
At the Hilclen Gtange race il was the YeaT 2's tum to take ¢entre stage wrth both the boy5 and girf5 winning their race5
with pupils In both boys 8nd girfs races dairning the winning spot as well a5 a third place in the boys rac8. In the U9
Girls race the Prep placed 3rd.
Rugby
We had a very enloyable and competitive s8ason of rugby this yeat performing well with some plea5irg results in our
fixtures. There was a lol of enjoyrnent and progression throughout the season which was excellent 10 see. In the
loumatnents the U11 had a strong showing in the Sd8field toumament with some Imp￿sSIve resulls. Unfortunately, the
Oldroyd 7s IU111 was c8ncelled tw¢e due to Ihe appalling w&alher we witnessed in March but miraculously we man4ge#
to hold the Culley Cup IU131. In allrltlonal conditions Ihe standard of rugby was very high wth the Prep finishing 3rd In
b*hl¢h was a very irnportant 8venl for us considering lan Culley's passiTVJ earfier in Ihe year.
Page 2

SEVENOAKS PREPARATORY SCHOOL UMITED IREGISTERED NUMBER: 037773081
GOVERNORS, REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
OBJECTVrfES AND ACnVITIES
Crlrkel
Another fantasti¢ season of ￿tket was had with Ihe 9rowing sy￿e$S of our mlxed cricket programme. Th￿9 out of tho
five senior teams p18yed hardball cricket with a number of glds appearing in the 1st team. The Colts put out 8 teams. 4
of which ￿8Yed regular hardball matches with Ihe E team also having some experience of hardball matches as the
season progres39d.
In the Rose Hill T10 Tourrtamenl the Colts A team were crowned champions for the first lime in over a de¢ade. The
manner ol wn was particularty notable with a numter of observers highlighting how impressed they were not only with
their abilily. but the la¢tu employe¢ and their teamwork and support of each other. One sludenl finished th? sea$on
with 3 half cgntunos and was selected for the Kent U11 learn for the summer, a fantastic and well4eserved
ach*vement.
Ho¢k¥y
Hock&y al The Prep continues to go from strength to strength. The U13 won the Sevenoaks School toumament and at
the end of the Easter temi the U12 tearn travelled lo the Regional$, having been crown8d Kent U12 hockey charnpion$.
We were incr&dibty proud of Ihe way the gids pLqyed against much bigGer sehools. The locus on hockey starting at Year
2 is really paying divmlends and with lots of h8rd work from the girfs., they are irnpioving all the lirne and we have great
Jpes for them in years to come.
Netball
After a very wet th8n frosty start to the netball season we were finally p￿aS&ll to stsrt playing mètthes arKS getbng (xrt lo
train. At the start of th8 Season, w8 welcoFTE8d 50rn8 netball 5p8cialist t8ach8r5 frorn Mayfield again ar￿ had an exc8118nl
session g8tting back Into th8 swng of things.
Y8ar 3 played 88e netball - so fNe 8 sid8 with lots ol chaThging ol position5 and lots of tITne on court trying lo perfecl our
footwork. passing. catching and shooting. Year 4 gids transitioned from Bee Neiball to 7-a-slde. Introducing new
posittons lo the game.. wng atlack ènd wing defence. Atter a frustrating start lo the season because of the cold and icy
courts, Year 5 rnatch85 got under way and the girf5 showed r8al talent by changing p05itiofis whon needed and working
as a leam. This attitucje was a150 a strength in the Ul 1s who have shown strO￿g teamwork aad ¢ollaboration in all of
their learn5 and compeled in local IouTnornen15. Two of the U13 pupils w9re awaréed thoiT s¢hool ¢olours for netball by
the end of the season and we look loTwaid to hearing about Ih&r progress in the fuluro.
Athl•tl¢$
Our Year 5-8 pupils competed in the Dislrfcl Schools, Championship$ in June. 11 was an extremely Suc￿$$fUl day
a bronze medal In the U12 800m and sllver and bronze In the U13 hurdl&s. We were incredibly proud that our pupil$
who pla¢eiJ 1st in Ihe high jump an(J 2nd in the shot put and 2nd in both the 800m and hurdles went on to compete in the
National Athleth"cs in 8imiingham on thè 3rd ol J￿.
Trlp$ w0￿$￿0p9
Wv have been able to schedule many more trips and workshops for the chitdren ovar the year, som8 of wh￿h are listed
below..
The Royal Observatory in Gfeenwith
Hasting$
Tonbridge Cast18
Rornan Day
The British Museum
Horton Kirkby Environmental C8ntre
The Whit8 Clrffs of Dov8
River 8oum8
Bushcraft
Knol8 House
WW1 Battlefi8ld5- Ffance1881gium
PGL Marchanls Hill
House General Kntswledge Qu
Thè Royal ObsaNatory, Greanwich
Godstone Fami
Sl Nicholas, Church
Hastings
Chadie and the Choct>late Factory, Wimbledon
Frozen, Wsst End
The ¢hildren's learning is 81s0 supported during the ye8r by putting on and ailending 8 wde T8ry of workshops, such as
STEAM day Whe￿ pupils ma¢5e rockets. Wortd Book Oay, author visits, th8 yearfy Scholastic Book Fair. Readathon, On
interactsve science day, Owali and Henna painbng workshop8. visiting perfomiance$ of pantomimes, a zoo v&$it. a
screen prinlmg workshop, speciatsst netball tuition, and the ever popular Duck Watch of hat¢hing duckling5.
Page 3

SÉVENOAK5 PREPARATORY SCHOOL LIMITED IREGISTERED NUMBER: 037773081
GOVERNORS. REPORT
FOR THE YEAR eNDE0 31 AUGUST 2023
OBJECTP4ES AND ACTIVITIES
Our regular schod events that invofve our community of children, parènts and staff got back underway including the Quiz
Night. the Golf Day. F8mity Cricket Day, Prep Idol, PTrpslock Festival, Grandparents Day, the Maypole Dancing, our
Kindergarten Grand Prix, Famity Day and the Christmas Bazaar.
Th8 School encourages a more enviTonmental approath wherever il can, and thi5 year has been building on the Eco
School ststus with rnore work being done by the children on our Eco Comrnittee lo reduce our impact on the
environment.
Abngside Ihis, Ihe whole School have benefitted frorn outdoor learning aTid use of wr out(k)or 'foresl' das5rooms and
nalural afea5 in our lovely grounds. We havè highly qualified spsaalist siatf wnning these sessions which support
thihyren's independence and bve ol nalure os wdl as lea¢hing them new s￿11$.
Publ1¢ benefit
Our conhnuing involvernenl as a school Mlh local, national and inlemational charities supports the WO￿ we do in makir
children aware of the wkjef enviiotltnent and to lai58 funds for those in need. During th8 school year we hav8 collected
food bank donations for Sevenoaks Larder, and the Spring B811 organised by th8 parents rai$6d a large amount of n￿neY
ror Fr+Ènds for Familie$, which is a l(Kal charity supporbng the work of social workers with deppived families.
We h8¥e several stsff who a￿ 9overnor5 al otheT local sch(N)Is and donate their time alld skills. and nationally we rais8d
lunds for Ihe Salvation Army, M8crnillan Cancer. and Ihe Ptsppy Appeal. Int9mat￿nJ1lY w9 also supptrrted Ihe HalleT
C¢mTnunity charity in Kenya and Wè See Hope In Kenya. Molawi. Tanz8nia. Uganda and Zimbabwe frotll WdriOUS
iniliaiives that the children Ihemselves set up ènd fan.
During each school holiday we host a variety of Clubs and activities run by extemal providers to offer fun and ¢hanenging
experiences and in holiday childcare. Our facilities are used for this and they are available to all viorking families whether
they attend our school or not.
Scholarshlps IYeaTS 6 and 81
The folk)wing Scholarships were awarded to our gupils.. -
- 3 Sports Seholarshps
12 Acadetnic Scholarships
1 Musi Scholarship
- 2 Arts Stholarships
1 Drama Scholarship
Destlllation Schools
Pupils gain￿ places al their chosen 11+ 1134 senior independent xhools and many were awarded pla¢es at Iwo or
rnore schools. Thi$ Tanged across 14 different ￿nde￿ndent Sthool and 4 grarnrnar 5th¢)ols.
FINANCIAL REVIEW
Financial pos*tion
The incorne of the School arises from fees and donations received and interest eamed on short tem) deposits wilh the
bank.
The charitable expenditu￿ is all met from this income. The governors consider the assets and the operation of the
S¢hool are sufficient in the short term to rnaintain ils oL4igations in lull.
The total income duting the year ended 31 August 2023 was £5.700.032 12022.. £5,￿3.477} and the eXPe￿IllUre w85
£5.101.20412022.. £4.954.4251 which resulted in a surplus for the year of £598.828 compargd lo a surplus of £379,052
g8nerated in the previous year. Al of the School's expendIlu￿ was spent in advancetnent of it5 charitable obiectwes.
Investment pollcy and obloCtlve$
The governois itTrveslment powers are governed by the Mernorandum aa# Articles of As$o¢ialion which permit the
govemors lo make any investrnents they deern fit. Most of the funds generated by the School are used in the short temi
in achieving the charitable aims and objectives. There a￿ no funds available for external Ion9 lemi investmenls. Short
ierm surplu5 funds are held on dep0511 with the bank.
Pa98 4

SEVENOAKS PREPARATORY SCHOOL Um￿ED IREG15TERED NUMBER: 037773081
GOVERNOR5. REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
FINANCIAL RVrfIEW
Re5erye5 poII¢y
The govemor5 have a Oicy of holding un￿tricted ¢a5h equal to at lea$1 three months budgeted expenditu￿ to bo
retainod as a fyserve which equates to beiween £1.1 m and £1.25m12022.. £1.1rn and £1.25ml.This is intended lo alkjw
Ihe school to fund planned maintenan¢e of the buiklings and facilities. to provid8 for future capit81 proj8Ct expenditure on
improving the educational faci41ies and for the support of the financial heallh of the business.
As this lund is buitt up it may also be depleted a$ the Spend is likeby to take place in large tranthes rather than
¢onts"nuous amounts. and it will then be replenished over th8 following nurnber of year5. Th8 governors are ahvays
mindftsl of the need to maintain prudent financial provisions.
The School holds r8slriclecJ funds of £58,614 12022.. £52,710) which havè boon donat8d for the fvndiftg of bursariès.
Unrestricted fijnds of £5,170,056 12022.. £4,577,1321 allow the school to carry out rt's charitable objectives. The total
funds held were £5228,67012022.. £4,629,842).
FUTURE PLANS
Given the uncertain 8conomic 51tuation lh8 school does not havè any Immedlate pLans for ¢apital devebprnenl However,
planned repairs and improvements to the caT path and upgrading of the Sports Hall w511 take place to ensure that we
make the best us of the buildings and grounds and contsnue lo provKle high quality.
REPORTABLE INCIDENTS
Ther8 have been no repK)rtalAè incidents.
STRUCTURE. GOVERNANGE ANO MANAGEMENT
Govemlng document
Th8 charity is controllèd by its governing document. a deed ol IWSL and ThMsbiules a limrted cornpany, limited by
guarantee, as defined by the Companies Acl 2006.
AppolNtsn•ni and rO•appoin¢m¢nt of gov¢mors
The Artides Of Assouation albw lor the￿ to be befv4e8n 88ven and hventy appointed gov8mor5. There are (xjrrenlly 12
on the 8oard. Governors are appointed by the existing Board members in th8 first inslarKe and th8y are re appoiTil8d for
3 yeats and can serve up to a maximum of 3 tem)s of 3 years un19S8 th8r8 are extenuating urcumstallc85.
Organl$atlono18tructurg
None of the govemors has any benefiaal inter8St in the company. AJI the govermrg &re Members of the company and
guarantee to rnntribute £10 in the event of a wnding up
The b08rd of governors met at lea51 on(x per terrn on 12 Odober 2022, 16 Mar¢* 2023. 3 May 2023 and 16 June 2023.
The main Sub Committse of the govemors is the Executive Commrttee which meets once a month lo dlscuss the day to
dèy matters concemed with the running of th8 Schod. Majof itern5 3Fe passed to the Main Boa￿ for discussion. with the
Executive Commit18e's recomrnendations. The Chairtnan and Vice Chairman sit on tris Commltlee wilh the Headmaster.
Bursar. Deputy Head and H$ad of Pre-Prep in attendan￿.
The other pern￿n8￿t Sub Cornmittees are as folli)ws.'
Academic Committee
Finance and Risk Committee
Bursary Committee
Estates and Facilities Cofflrnitteo
Safaguarding and W8llb8ing Comrnittee
C Jones
J 8erry
K Rush
A Durtnell
T Homshaw
Cbalr
Chair
Chair
Chair
Chair
The govemors bring many years of experien(* in a wide v8ri8ty of professional fields, such as finance. educatton and
rnedicine. The 'day to day. runnln9 of the School is delegated to the Headmas18r Luke Harrison and Ihe Bursar,
Elizabeth Walsh. Thèy Wofk in cooperation with the Senior Management Team, who are Deputy Head, Head of
Pre-Prep. Assistant Heads and Head of Earfy Yeats.
Induct￿￿ and training of ntw governors
The Sch￿1 has appointed one new governor duriny thè year, and she has benefited from onlin8 training including
S8f8guarding training. Th8 chair of govgmors attende¢5 the Asso¢iats"on of Gov8ming Bodi8s of Indep8ndent Schools
IAG81SI conferen￿.
The Cost ol govemors, CO¥Tses to the School during the year was £195.
Page 5

SEVENOAKS PREPARATORY SCHOOL LIMrrED IREGISTERED NUMBER.. 037773081
GOVERNORS. REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
STRUCTURE, GOVERNANCE AND AIANAGEMENT
Key rnanagem•nt remunernllon
In line with pay for all 51aff. key rnanagement pay is considered by the governor5, Finance and Risk Committee who
make re¢otnM8nda￿'9ns lo the full board. In deciding the level of retnuneFatson, the ¢ommiiiee coasider the ujrrent
market demand for pupils. the fjnanaal strength of the Sthool and the economic Qullook. The key management rd85 are
detailed in rK)le 12 of lh& accounts.
COMMUNITY LINKS AND PUBLIC 8ENEFfT
Part of the School's aims is to develop involvement with local. nabonal and international charities. This 18 an important
W8y of developirlg children's u#rterstanding of wi(ter so￿etY. During the school year we have collected food bank
donations for Seven08ks Larder, and the children, parents and staff worked lo raise money for local charities such as
Friends lof Familigs and by donaling Christmas gifts to th& Salvation Amiy. We SUFWTied raising money for national
harilie5 such as Macmillan Cancer, the Poppy Appeal and the Red Cross Appe81 for Ukraine, and Intemationally as we
raised and donated funds lo Phoenix Fooltsall Acaderny in Ghana, the Haller Community charity in Keny3 and We See
Hope in Kenya. Malawi, Tanzania, Uganda and Zimbabwe.
During each school holiday we host a War￿lY OT clubs and activib.es Nn by extemal provlders to tsffer fun and challeTrJing
experierlces arKI in holiday child¢a￿ lo all work￿n9 families whether they attend our school or not.
Engagem•nt wlth employeès
The Schod is an equal opportLJnities employer. Full ènd fair ¢on$ideration Is gwen to job appli¢ation$ from d(sabled
persons and ￿￿e consideration is givÉ>n lo their trdining and employment ￿ed$. Consult8t*on with employees has
continued al all levels with the aim of taking ih8ir views Into accA)unl whèn decisions are mad8 that ar8 likely to affe¢l
their interests. The 51aff Counc￿ continued to be consulted and to contribute sug9Èslions io the •xec￿liVe.
Rlsk management
Sevenoaks P￿p &hool Board of govemors is responsib￿ for th8 man2gemenl of the risks faced by the School. Risks
are identifi¥d. assessed and ￿ntrOL% established throughokjl the year. Th8 full Risk r8gisier is reviewed annLJally by th8
Finance and Risk sub ¢omrnittee of the Board and it 15 a standing item on their t8rmly agenda.
The govemofs consider the mator pot?ntial risks to Ihe Schcx)I to be-.
- A challenging economic environment adversety affecting pupll numbers & fee ￿Ve1$.
Inflationary pressures on certain costs.
competiti￿ Irom tK>th independent and state sthools for pupils.
Ensuring Safeguarding & Inspection In an increasingly regulated environment.
- The unknown impact of the proposed imrK)srtion ol VAT on sckK)ol fees by future Labour Govemmenl.
The key ¢orrtrols used by the School to mibgate risks incsude..
Formal agenda for Cofflmitlee and Board activities.
Detaile(l Tems of referen￿ for all Commitloes.
Comprehensive stralegit planning. bud9etsn9 and rnanagement accounting.
Eslablish8d organisaiionat $tw¢lU￿ and lines of reporting.
Formal written policies.
- Robust 5CnJtiny of
Clear authorisation an(J approval levels.
- Safer recruitment as required by law for thp protecti)n of th8 vulnerable.
- si3V training. Child PTotect¢on 8nd safeguarding.
Data piote¢bon measures in ￿ace to prolect the cyber se¢unty of Sthool data including iestriction of access
uthenliob"on. the IK)Iding of back￿pS and purchase of insura
Through the risk managernent processes established by the S¢htsol, the governor5 are satisfied that the maiDr risks
identified have been adequately rntligate(J where necessary. 11 Is recognised that the systems Can onty provid
r8asonabk but not absolute assuran￿ that major risks h8vÈ been adequately managed.
Page 6

SEVENOAKS PREPARATORY SCHOOL LIMITED (REGISTERED NUM8ER.' 037773081
GOVERNORS. REPORT
FOR THE YEAR ENOED 31 AUGUST 2023
STRUCTURE. GOVERNANCE AND MANAGEMENT
Bursary Pollcy
This year ltte Charity awarded Bursaries of £47,54610.830A of fee income) 2022.. £39.330 10.75Yo of tee income) from
unrgstricted funds. Th8 gOver[￿r5, policy. in line with that of most other independent schools, Is to award 8ursaries on
thg basis of need. M BursarE5 are mean5 tested on applkalon.
A Bur58ry fund ha5 been 6Stsblished and is ovetseen by a subcommittee of 3 govemors, the Head and the Bursar. Our
airn is to build up a fvnd which will sUPPOrt a child attend the S¢hool. This would be over and above the funds already set
aside by the Schoot.
Penslon schemes
The School participates in the Teachers. Pension Scheme (TPSI for its t8aching Staff and an auto enrolmoni sch8m8 lur¢
by People's Pen5KJns for support staff.
The TPS ts an unfunded mutti-employer defined b8n8fits scheme govemod by thè Taa¢hers' Penslon Scheme
Regulation$ 2014. Members contribut8 on a 'pay as you go, basis with contribub.ons from members arHJ the employer
being credited to the Exchequer. Retirement and oth8r p8nsions benafits are paid by publlc funds provided by
Padiament.
The employer contribution rate 1$ sel following scheme valuations undertaken by the Goyèmmenl A¢tuary's D*partmenl.
The Current employer contribution rate for the TPS is 23.68%. Following the cOmp￿b0￿ of 8 ¢onsJltation process the
govemors have limited the contribution as employers to 20.lyn froFn Seplamber 2022 and hav* provided a Total
Reffluneralion Package ITRPI whiott gives leach8rs th8 option to leathers of either remaining in the TPS or joining an
aiiefnative defined contiibulion pension.
For the Support Staff Pension administered by Ihe Petsple's PertsloTI the empbyer contribvtion w85 30h. The employee
rate increased to 5°h on 61h April 2019.
Page 7

SEVENOAKS PREPARATORY SCHOOL LIMITED (REGISTERED NUMBER.. 037773081
GOVERNORS. REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Reglstered Company number
03T17308 IEAgland and Wales)
Reglstsrod Charlty rbUm￿r
1100021
Rggisterod offlce
Fawke Cottage
Godden Green
Sevenoaks
Kent
TNISOJU
Tru¥tee$
Chawman- Ms J S Bery
Vice Chairman- E Oalley
Dr S Ba￿eY
R Burgess
Dr M J Carboni Iresignad 16.03.231
P Cheveley
T C Dickinson
A Durtnell
Mrs T L Homshaw
Mrs M L 15mail
C Jone5
KRRU
C J Sution-Ma#¢Kks Iresigned 23.11.221
Mrs A M Stuart lappoinlgd 12.10.221
Company SKretarl&¥
Miss M Peirce
Mrs E Wa15h
Audltors
Azeis Audil Semces
RNer House
1 Maidslone Road
Sidrup
Kènt
DA14 SRH
SoliGltor¥
Thackray Williams
Kings House
3240 Widmore Road
Bromley
Kent
BR1 1RY
Bankars
Hynddsbanken
Sevenoaks BraTKh
1st Fl(x)r
50-52 London Road
Bligh5 M9Bdow
Sevenvaks
Kent
TN13 1AS
S•nlor Ltrad•rship T•arn
H8admastèr- Luke Harrigon
Butsar- Elizabelh Wa15
Deputy Head- Jatnes Ashcroft
He8d of Pre-Prep- Helen Cook
AssBtsni He8d- ktry $￿ge 31Direclor of AdrriÈsKJn8- Clare Har￿On
AssL8tsni Head- kèy stage 2- Robin Collings
Assistant H8ad- ktry stsge 1- Shannon Wake
Head of Earty Years- Louisa R￿￿and
Page 8

SEVENOAKS PREPARATORY SCHOOL UMrrED IReGISTERED NUM8ER.' 03Yn3081
GOVERNORS, REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
STATEMENT OF GOVERNORS, RESPONSIBIUTIES
The governo￿ (who are also the dire¢ttsts of Sevenoaks Preparatory School Limited for th? purpose5 of r￿MpanY lawl
ar8 respon5ib18 for pr8parin9 Iho Govemors. Roport and th8 finanu31 slalement$ in accordanc8 with applicable law and
United Kingdom Accounting Stsndards (United Kingdom Generally Ar£8pled Accounting Practice) induding Financial
Reporting Staridartl 102'The Financial Reporting Standard applic2ble in the UK and Republic of Ireland..
Company law requires the governoTS to prepare fin8ncial Statements for each financial yèar which give a true and fair
view ol the stale of affairs of the Charitable company and of the incorning resourc8s and application of r8sources.
including the in¢ome and expenditure, ol the ch8rit8ble cornp8ny for that P8ri￿. In pr8P8rin9 those financSal Slatornent5,
th& 9ovemors are required lo
sele¢l suitable a¢¢ounting policies and then apply them consistenuy,.
otr)$eNe Ihe methods and principl8s in the Charity SORP..
m8ke judg8menls and 85tirn818S that are reasonable and prudent.,
prepare the finan¢ial statements on the going concem basis unle55 It k% inappropnate lo presume that the charitable
company will conltnue in bjsiness.
The govemors a￿ responsible for keep￿ng proper accounting records which disclose with ￿¥SOnable ac¢ura¢y al any
lime the finan¢lal positton of the ¢harilabl8 company and to enable th8rn to ensure that Ihtr finan¢ial statements Comply
with the Companies Act 2006. They are 8150 responsible for safeguarding the assets ol the Charitable company and
hgnca for taking reaS￿al￿e steps for th8 pr8velltion and deleclitsA of trauEI and other irregularities.
In 80 far as the gov8mors are aware..
there is relevant aUd￿t inforTnation of whrh the Charitab￿ Company's auditors are unaw8re', and
Ihe govemors have taken all gleps that they ought to have taken to make themsdves aware of any relevant 8￿rt
infom)81ion and to establish that the auditors are aware ol that Inlofmation.
Approved by order of tho board of govemors on .
. I'd ￿.W.. &- 7y..-. and signed on its behalf by..
L. '"
M$ J S B8rry-eDvernor
Page 9

REPI)RT OF THE INDEPENDENT AUDITORS TO THE MEM8ERS OF
SEVENOAKS PREPARATORY SCHOOL UMITED
Oplnlon
We have audi¢ed the financial statements of Sevenoaks P￿paratOry Sch¢)ol Limited (the ¢haritsble ¢Dmpany'l for Ihe
year ended 31 kngu5t 2023 which eornprise the Stat8menl of Financial Activities. thè Balance Sheet. the Cash Flow
Statement and notes lo the financial statetnenls, including a summary of significant at￿￿Th11ng policies. The financial
reporting framework that has been applied in their pr8paralion is applicable law aTFd United Kingdom Accounting
Slanoards IUni18d Kingdom Generally Acc8Pted Accounting Praclicel, including Financi81 Roporting Slandard 102 'fhe
Financial R&portino Slandard applicable in the UK and Republic of Ireland..
In our opinlon Ihe financial stat8m8nts'.
give a true and fair view ol Ihe slète of the ¢harilable Company's affairs as at 31 August 2023 and of its incorniThJ
resour¢es and application of resources, includin9 its income and expenditure, for the year then ended..
have been properfy prepared in accordance wth United Kingdtsm Genwally AC￿pIed Accounting Practice, induding
Financial Rew)rting Slandard 102 The Finantial Repttrts￿ Slandard appli¢able in Ihe UK and Republie ol Ireland,;
and
have been p￿pared in accordanc8 With the r￿uIrementS Of the Companies Ad 2006.
8a8is for oplnlon
We conducted our audil in accordance with Intemational Standards on Auditing IUKI IISAS IVKII and applicab￿ law_ Our
responsibs'lities under Ihose stalldards are further described in th8 Athitors. responsibilities for Ihe a(ttJit of the financial
ststernenls section of our report. We are independent of the charitable compar*y in accordan￿ with the Èthical
Tequiremenis that are Televanl lo our audit ol the financial statements in the UK, including the FRC'S Elhical Standard.
and we hav8 fvlfilled our other ethical responsibilrties in accordance wth these requI￿rnents. We belwe thal the audrt
evvjence we h8vo obtained Is suffi¢ienl and appropFiate lo provide a basis for our opènion.
on¢luslon$ relatirlg to going concern
In auditing the financial stalemenls, we have Cond￿8￿ Ihal the governors, use of the gThng concem b8si$ ol accounting
in the preparation of the finanaal statements Is appropriate.
Based on the work we have performed, we have not idenirfied any material uncèrtainties relatiry to events or eoThlitK)ns
that. individually or collectively. may ¢a$t $ignifi¢anl doubl on the charitable company's ability to continue as 8 going
concern for a wricxj of at least Melve months from when the financial slaternent5 are auth0ri5ed for issue.
Our r&S￿￿81b11itles and thè Tespon5ibilities of the governors with ￿$1￿￿¢t to going con￿rn are described in the re￿vant
sections of this report.
l)ther information
The governor5 are responsi￿ for the other inforrnation. The other inlorrnabon comprises th& information iKluded in the
Annual Report, otherthan the firancial statemen15 and our Report of the Independent Auditors Ihereon.
Our opinion on the financh?l statements does not cover Ihe other information ar)d, 8x¢ept to the extent otrervAse expliot
ststad in our report. we do not express any fomi Df assurance conclusion Ihereon.
In conne¢lion with ojtsr audit of the financial $tstemenl$. our re5Fv)rsibility is to read th8 Other infom7alton 8nd. in doing
so. consider whether the other information is malÈTially 1nconsislgTr1 with the financia slat&men(s or our knOW￿￿ge
oblained in th8 audit or olhgThw58 app8ars lo bg malenally m155taie(S. If we identify 5uth mat8rial inconsislenc18s or
appa￿nt m81erial mis$l8ietnents. we are reqUi￿d lo determine whether this give5 rise lo a material mis51alemenl in the
financial 51atements themselve5. If, based on the work we have performed. we ctsnc￿de that there 15 8 m8lerial
missia￿M0nt of this other Snlormation. we are required lo report that fa¢t. We have nothing to ￿pOrt in this regard.
Oplnions on other mattefs prg$¢rtbed by Companl8s Act 2006
In our opinion, based on th* work undertaken in Ihe Course of the audit..
the Infotmahon gwen in the Govemors, RÈport for the financial y8ar for which the financial slalements a￿ prepared
consistent with th& financial slalernents,. and
the Governors. Rew)rt has b8en prepared in a¢¢or¢Jance wth applicable legal r8quirements.
Mattèrs rjn whl¢h we are requlred to report by exception
In the light of the kn¢)wledge and understanding of ¢harilats￿ wmpany and ils environrnoTr1 obtained in the course of
the audit, we hav8 not identified Tnatell￿ misstat8mnls in the Governors, Report.
We have nothing to ￿pOrt in re5P8Ct of the lolkn*r¥J mattets where th9 Companie5 Act 21K16 requires us to rel￿ lo you
if, in our opinion..
dequate aCCo￿ling ￿Cor{l5 have r¥)t been kepl or fÈtorfts adequate lor our audit have not be8n rec*ved Irom
branches not Visited by us". or
the fwancial stat8ments a￿ not in agreefflent with the ac¢ounlin9 words alld retums.. or
certain disclosures of govert￿r$, retnunerakn'on specified by law are not made." or
we have not receiv8d all ihe infom)ation and explanation8 we require for our audil.- or
the oovernots were mt 8ntilled lo take advantsge of the small compani8s exèmption from the requirement to prepar
a Slralegi¢ Report Of in pr8parin9 the govemots. ReporL
Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SEVENOAKS PREPARATORY SCHOOL LIMITED
R•spon$tb115th$ of gov•mors
As expkined MO￿ fvlly in the Statement of Govemors, Responsibilities, the governors Iwhts are also the d1￿clOrS of th8
charitable company for Itie purposes of cornpany lawl are ￿spOnsible for the prtparation of the finan¢ial Ststements and
for b¢ing satisfied thai they give a true and fair vigw. aThJ for such lftlemal ¢ontrcl as the govemors dètetmine is
necessary to enab¢e the preparation of ffinan¢lal statements that are free from material misstatement. Nvhether due lo
fraLtd or error.
In p￿p?rfng Ihe finawial statements. the govemors are responsible for assessing the charitsble ¢ompany'$ ablllty to
¢onts"nue as a going concern, d￿Clos4n9, as applicable, matters related lo goin9 concem and using the going concem
basis of accounts'ng ufiles5 the governor5 erther intend to INuidate the tharilable Company or to cease operth"on5, or
have no realisb¢ allemative but its do so.
Our rgsponsibiliti•s for th• Oudil of ihe finan¢ial $tstgmonts
Our objoctivos are 10 obiain reasonable assurance ab(>ul whether Ihe financial statements as a whole 8fe free from
material mssstalemenl. whether due to fraud or error. and lo issue a Report of the Independtnl Auditors that indudes our
opinion. Reasonable assurance is a high level of assurance, tAJl is not a guarantee th81 an audit conducted In
accordance with ISAS IUKI will always deie¢t a material misstatement when it exists. Misststements can aris8 from fraud
or error and are ¢on%dered material rf, individually Dr in th8 aggregate, they could r8asonably be expected to influence
the economlc derisions of users taken on the basis of thgse financi81 staLernents.
The extent to our ppo¢edure$ are cap2bl8 of detecling irregulaTrli8s, including fraud i% detailed below..
o Enquiry of managemenl and th058 charg8d with govemarsce around actual and potential litigation and daim8 as wdl
as actual, suspected and all8ged fraud.,
o Revwng minutes of mget1ngs ofthos8 charged with govÈmanc8',
o Ass&ssing the exlenl of compliance wilh the laws and regulations consid8red lo have a dirett material effect on th8
financial statem8nts or th8 OP8rations of the cornpany through enquiry and >n5pection'.
o Reviewing financial statement disclosures and testiThJ to Supporting do¢umentstK)n to assess compliance with
applicable laws an(J ￿gulatiOns..
o PÈrtorming audit work over the risk of management bias and override of controls, including testirvJ of journal entries
aTrd other adjustments for approprial8ness, evaluating the business rat￿nal8 01 5ignificallt transactions outside Ihe
normal course of business and reviewing accounlifjg estimatos for indicatots of potential bias.
B8cause of the inherent lirnitalions of an audit. there is a risk that we wdl not detect all irre9ularilies. including those
le8d¢ng to a mateiial misstatement in the finan¢ial statements or non-complian¢e wlh wulation. r4$k in¢￿3$e$ Ihe
rnore Ihat Corn￿1#n￿ with a law or regulation is ￿rn￿Ve￿ from the events and transactions ￿ffected in the financ￿31
stalemenis, as we w4l be less Ilkety lo become awa￿ of inslances of non-¢ompllancs. The risk Is also greater regardlng
irregularitie5 occurring due to fraud rather than errtsr. as fraud involves irtenlional CA)n¢ealmenl. forgery. collusion,
omission or misr8pr858lttation.
A further description of our responsiivlities lor the audit of the finanual stalemenl$ 1$ located on the F*n8ncial Reporting
Council's wtrbsitè at www.fr¢.tsrg.uklauditorsresponsibililios. This description fom)s part ol our Rep(*t ol the Ind#pondent
Auditors.
of our r•port
This report 1$ made solely to Ihe tharilablÈ compar¢y's members, as a body, in 8ccordance with Chapter 3 of Part 16 of
the Companies Act 2006. Our audit work has been undertaken so thal we Might slate to th8 Charitab￿ company'$
members those matter$ we are required to state to th8m in an auditor5, r8POrt and for no other purpose. To the knllest
extent pemiitted by law. we do not accept OT 8ssume responsibility to anyon8 other than the Charitabl8 cornpany and the
¢haritable ¢ompanWs m&mbers as a t￿y, for our audit work, for this report, or for the opinions we have fomied.
Kl Wilkes FCA (Senior Statutory Auditorl
for and on beh81f ofA2ets Audrt ServKes
River House
1 Maid5ton8 Road
Sidcup
Kent
DA14 5RH
Dato.1a..May.2.Q2.4................
Page11

SEVENOAKS PREPARATORY SCHIJOL UMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 202J
2023
2022
Designated
fixed
assgt
fund
UnTestric18d
fund
Restricted
fund
Total
funds
Totsl
fun(ts
Noles
INCOME AND ENDOWMENTS
FROM
Donations and legacles
84.909
5,OlJ)
89,909
57,417
Charitsble activitles
Edu¢aJon
5,570.149
5.570.149
5.265,499
Other trading aclivities
Investment Inwme
Other in¢ome
6,140
26,695
6.235
6.140
27,599
6.235
2.636
3,040
904
Totsl
5,694.128
5.904
5.700.032
5 333 477
EXPENDITURE ON
Ralslng lunds
Raising donations and legaoes
46.663
46.663
46,663
4fj,663
17,482
Charttable activrlie$
Education
5,052,910
889
5,053,799
4.936,347
Other
742
742
Total
5,11)0,315
889
5.101,204
4.954 425
NET INCOMEIIEXPENDITUREI
593,813
3,649.5901
18891
3.649.5￿)
598.828
379.052
TTansf•Ts betsmen ful￿$
23
Net movemènt In fund$
13,055,777)
3,648.701
5,904
598.828
379,052
RE¢ONCIUATrON OF FUNDS
Total fund5 brought foN¥ard
4,559.203
17,929
52,710
4,629.842
4.2SO,790
TOTAL FUNDS CARRIED
FORWARO
1.503.426
3,666,630
58,814
5,228,670
4,629.842
CONTINUING OPERATIONS
All Income and expenditvre has arisen from continuing activities.
The Statetn8nl of Financial A¢tMtie$ includ65 all gains and losses ￿cogniSed In the year.
The notes forn part of Ihese finanoal statements
Page 12

SEVENOAKS PREPARATORY SCMOOL LIMITED IReGISTEReD NUMBER: 0377n081
BALANCE SHEET
31 AUGUST2023
2023
2022
Notes
FIXED ASSETS
Tanglbl¥ assets
15
8.312,173
8,562,839
CURRENT ASSETS
Debtors
Investments
Cash at bank
16
17
132,818
200,000
2 749,534
70.806
2,487,348
3,082,352
2,558,154
CREDITORS
Amounts fallin9 due withirÈ one y8af
18
11,145,947) 11,173,936)
NET CURRENT ASSETS
1,936,405
1.384,218
YOTAL ASSETS LESS CURRENT LIABILITIES
8,248,578
7,947.057
CREDITORS
Amounis faHing due after more than on8 year
19
13,019,9081
13,317,215)
NET ASSETS
5,228.670
4.629.842
FUNLIS
Unrestricted funds..
General fund
Designated fixed asset fund
23
1,SD3,426
3,666,630
4.559,203
17.929
5 170,D56
4,577,132
Rèsrricled funds
58,614
52,710
TOTAL FUNDS
5.228.670
4.629.842
Those financial statements have been prepared in ac¢ordan¢e with the provÈ5ions appluble to ¢harit8ble companies
subject to the small ¢ompanies regime.
e fina[￿181 slat
nts were approvett by the Board of Gov8mors and Aulhorsèd for issue on
and were S￿ned on ils by..
4 P-
J S 88ry- Governor
The no188 fom part olthèsè finana81 stalemonts
Pag• 13

SEVENOAKS PREPARATORY SCHOOL UMITED
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2023
2023
2022
Note$
Cash flows from operatlng acdvltles
Cash generated from operdtions
Interest element of finance le8se payrnents
paid
766.240
682,527
7421
Nel cash PTovided by operating activities
765.498
681.931
Cash flows from Investing activltles
Purchase of tangible fixed assets
S3le ol langible fix8d assets
Investfflent in fixed term deposits
Intere51 received
1185,7161
9,475
1200,0001
27,599
132,1821
4,885
3.040
Net cash used in investh.ng 3clNrties
348,6421
24.257}
Cash ljows from flnanclng actlvltJ•s
Loan ￿paYrnent5 in year
Finance lease repayments
1150.0001
19.908
Net cash lu$ed inyprovided by finanong acti¥ili8S
154,6701
hange in cash and cash equivalents In
th* typortlng perlod
Cash and cash equivalents at the
beglnnln9 01th¢ r•porting period
262,186
677,582
2,487,348
1 809 766
Cash and tash *quival¥nts at the end of
the roportlng wilo
2,749,534
2 487 348
notes form payt of these financial statements
Page 14

SEVENOAKS PREPARATORY SCHOOL LIM￿ED
NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2023
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPEIiAYING ACTIVITIES
2023
2022
Not incom• for thp r•porting P•Tiod la$ per Ihe Stst•m¢nt of Flnan¢lal
A¢tlvltl8s1
Adlu$tment$ for..
DepreGiation charges
Profil on disposal of fixed assets
Inte￿$t received
Int$resl &lem¢nt ol hi￿ purd)ase and f nance lease rent81 payments
Iln¢reaseyde¢rease In debtors
De¢reas$ in ¢redrtors
598,828
379,052
433,143
16,2351
127,5991
742
162.0131
170,6261
417,925
14,8851
13,0401
596
816
107 9371
N•t ¢•sh provlded by op¢ratl¢)n$
766.240
682.527
ANALYSIS OF CHANGES IN NET IDEBT>IFUNDS
Al 1.9.22
Cash 1kn4
Al 31.8.23
Net caah
Cash et bank
2,487.348
262,186
2,749,534
2 487 348
262,188
2 749,534
Llould re$ouTces
Deposits included in ￿sh
Curr8nt 8s88t investments
200.DOO
200.000
200.000
200.000
Dgbt
Finance leases
Debts fallin9 due within 1 year
Debts falling rjue after 1 year
119,9081
1150,0001
2 850,000
4,670
115.2381
1150.0001
2.700.0001
150.000
3,019,908
154.670
2 865 2381
Total
532,560
616.856
84,296
The note8 forn part of Ihe5e financial statements
Page 15

SEVENOAKS PREPARATORY SCHOOL UMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
ACCOUNTING POLICIES
Ba$1$ of preparing the financlal statements
The financial statem8nls of Ihe charitsbl& company. whi¢h is a public benefit enlty under FRS 102, have been
prepared in accord8fFce with the Char*ties SORP IFRS 1021 'A¢¢ounting and Reporting by Chariti8s'. Sl8lem8nl
of Re¢¢mmended Practice applicable lo eharilies preparing their accounts in accordance with the Financ481
Reporbng Standard appll¢able in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191,. Financial
Reporbng Standard 102 'The Financial Reporting Standard applicable In the UK and Republic of Ireland,. the
Charit￿$ Act 2011 and the Cornpanies Act 2006. The financial slalernents have been prepared under the
historical cost c¢nventK)n.
Sevenoaks Preparatory School Limitsd is govemed un¢Jer 115 Mernoranclurn and Article5 of A550ciation. The
address of lh& pnncipal offr8 is giv$n In the Informati￿ on page 8 of these financial statemenis. The rnalure ol
Ihe School's operations and principal activities are sel out on pages 110 4.
The flnancial slalements are prepared on 8 90in9 ¢on¢em basis under the histori¢al cost convention. modif18d to
include ￿rIa&n items al fair value. The financial statèments are prepared in slertin9 which is the funclKJnal
currency of the charity.
The $1gnffi¢ant accounting policies applied in the preparation of thes¥ finan¢ial statements are Set out bgbw.
These rM)lides have been consi5tenUy applied lo all years prèsented unless otherbtrise ststed.
Crltlcal accountlng ludg¢mtnts and k•y sources of e5tlmation uncertalnty
Accounting esiimates an¢J judgements a￿ continually evalualed and are base¢J on hislor*c&l eX￿rienCe and
olher factors, includlng expe¢tab"ons of futu￿ events that are belie¥e£l lo be reaSona￿e under the circuln51a￿te$.
The following judgemenls18part from those invdvtng eslimatesl have been made in the pro¢ess of applying the
above a¢counting poliC￿S that have had the most signifi¢ant effeci ￿ afflounls recogni5ed in the financwl
statements".
Bad debt provision
Useful oconomic Ilvès of tangible assets
The annual depreciation charge for tangible a55ets is sensitive to changes in the estimated useful economic liwes
and residual values of Ihe 85sets. The useful economic lives and residual values are re-assessed annually. They
are amended when ne￿Sary to reflect current eslirnates, based on technological advancement. future
inveslrnents, economic utilisation and the physical £onL*ll￿n of the assets. See note 13 for the carrying amount of
the property ￿aTht and equipment. an4J note 1 for the useful eC0f￿MiC lives foreach class of assets.
There are no key assumptions conceming the futu￿ and other key sour￿5 of estirnation uncertainly al Ihe
repo￿ng date Ihal have 8 srgnificanl ftsk of ¢ausing a maiwal adju5trnenl to the carrying arnount5 of assets and
liabilitie$ wilhin the nextfinarrid year.
Income
All income is ￿¢09n1$ed in Ihe Statement of Financial Aclivrties once Ihe charity has ents"tlement lo the funds. tt i8
Prob8b￿ that the incomo will be received, and th8 affiount can be measured ￿fia￿y.
Schod fee in¢ome 15 accounted ft)r on a recwvabl& basts and consists of Charges billed for the Scho￿ year
8nded 31 Augusi, les5 but5ari85 and allohvdnces. No valu8 added tax is Ghargeable on the fees rendered. Fees
received in advance lor education to be provided in future years ar& carried forwar0 as deferred income.
DonalK)ns are accounted for on¢e the school has entitlement lo the gift, it B probable that the in¢ome will be
recewed. and the 8mounl be measured reliably.
Investment incotne Is accounted when it is ￿ceIVable. and the amount can be rnea5ured reliably.
Expendltui• and Irrecoverable value added tax Ivati
Liabilities are recognised as 8xpenditurÈ as soon 35 there 15 a legal or constfuctnie obligation committing the
charity tri that expenditure, it is probable that a transf$r of economic benefi15 will b8 required I￿ s8th8m8nt and
th8 amount of the obligation can be measured reliably.
EXpe￿Ilure is accounted for on an aCCfu8ls basis and has been classif ed under headlngs Ihal agg￿9￿te all cost
related to the category. Where costs cannot be directly allributed lo parti¢ular headings, they have been allo¢aled
t0 3cliviiies on a basis conststent with the use of resources.
Page 16
conlinued...

SEVENOAKS PREPARATORY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - ¢ontlnu•d
FOR THE YEAR ENOED 31 AUGUST 2023
ACCOUNTING POUCIES- eontlnuod
Expendtture 8nd Irro¢overablo valuo add•d tax l¥atl
The irr8COV8rable element tsf value a(kSed tax Is included with th8 related expens8.
Admlnislratiw o)sts are allocated to the cost of raising funds and charitable activitles On the basis of an
appropriate apportionment ol resources aNI a¢tniities.
Govemancè Costs have been allocated in line wth 8drninistr8tion costs and indude those Costs assotyaled with
meeting the constSlutK)nal and statutory requiiern8nts of th8 charity and includ8 audit rees anij costs linked lo thè
strategic rnanagement of the th8rity.
Funds
Unrestrtcte(I funds Can be used in arxordance with the charitable objectNe5 at the discretion of the govemors.
DesKJnated funds ￿late to Ihe net b￿k value of fixed awt$ held by thè sthool l&ss the outstand￿ng loans held.
Restrlcied funds can only be used for particitlar purposes w￿h1n the object5 of th8 school. ReStr￿tIonS arise when
specified by the doThor or when funds are raised lor particular restrict￿ pU￿oSeS.
Further explanation ol the naturo and purpose of each lund is induded in the notes to the finan081 statements.
T•nglbl& fixod a$$•ts
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on all fixed assets al rates
¢al¢ulated to write oll thgir eosl, 18ss eslimaled residual value. over their expected usèful lives by equal annual
instslments as follows..
Capita118ed financ8 188se for classroorns- 10Yo on cosl
Improvements lo leasehold property - 4 to 10% on cost
Fixtures and fittings - 25% on cost and 20% tsn cost
Motor vehic18S
15Vp on cost
It is the sch￿r5 policy to capiialiso all items of a Capital nati1￿ over £500.
lrnpalrmont of flxed as$•ts
1rnpairfflent rpviews are carria out if events of changes in urcumslances indlcate that the carrying value of an
assei may not be recoverable. When an irnpairrnenl revi8W 15 necessary the Garwng amount of an asset is
compared with the higher of nel realisable valuè and valua in use and any perman¢nt diminution in value
writien ott to the Staletnent ol F*nan¢id Adivites.
Taxation
The Eharity is exempt wilhin Ihe meaniag on sch8dule 3 of the Charities Act 2071 and is ¢Onsrfle￿d lo pass the
tests set out in pardgraph 1 schedule 6 to the F￿nar￿8 Act 2020 and therelore meets Ihe definitKJn of a charitable
company for UK tax purrK)ses.
Hire pur¢has• and leaslng ¢ommltments
Assets obtained urK5ef hire purchase contracts or financ8 18a585 aro capttali5ed in Ihe Balancè Sheet. TkM)$0
held under hire purchase conlfacts are d8preciat8d ov8r their estimated usgful lives. Those held under fin8n¢e
loases are depreriated over their estimated useful lives or the lease term. whichever is $hort8r.
The interest element of these obligations is charged to the siatemenl of Flnancial Activiti85 OV8T the relevant
p&rH)d. The Capital element of the luture paym8nts 15 Ireaied as a liabilfty.
Rentsls paid under op8ralirg leases are charged to the Statement of Finanaal Activities on 8 Stra￿ht line b8515
over the period of the lease.
Donatlon$ o19ood$, s8rvlc•s and facilltie$
Donated wods, prof8Ssional 88NC85 and facllits.es are recognised as incorne wh8n th8 School has control ovor
the item or has re￿iVed the service, any conditions assOQated wth the donation have been met, the receipt of
the e¢onomi¢ benefit from the use of an it8m by tbo s¢h¢)ol Is probable. and that econofflic bonefil can be
measured reliably.
Page 17
)ntinu8d...

SEVENOAKS PREPARATORY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 AUGUST 2023
ACCOUNTING POUCIES- continued
Donatlons of good$, 6•rvl¢•s and facilltl8S
On receipt, donated goods, professional 5erwces and fa￿lit￿S are recognis8d on th8 basis ol the value of th8 gift
to the school which is an￿Unt the school would have been wlling lo pay lo obtain the goods, ser¥ic8s or
18clities on the open market.. ? corresponding arnount 15 then ￿cOgnised in expendilure in the period of receipt.
Goods donated lor on-going use by the school in carrying out 11$ day to day acDvits'e5 are ￿cognised a5 lan9ible
fixed assels.
Debtors
Trade and oth¢r debtors are recognised at Ihe s8tt18m8nl arTh)unt due. Prepayments are valued at the amount
prepaid net of any trade di5coun15 due.
Cash at bank and In hand
Cash 81 bank and in h8nd ￿nd￿leS ¢ash and short lern highly liqu￿ inveslrn8nts with a short mat¢¢rity of three
onths or18S8 from the dale of acquisition 01 opening of the deposit or similar a(X0￿nI.
Current aSS•t investn￿nts
CU(￿nt asset investsnonts include long-lemi IiquTd investments with maturity of three months or more are inttk8lly
slated at ttan5action value and subsequenuy measured al Iheir selllemenl value.
Credltors and provi51ons
Creditors and provisKJns a￿ recDgnised when the school has a pr8s&nl oNigalion resulttng frorn a past evenl thal
will probably resull In the Iransf8r of fvnds lo a third party and the amount due to setue the obligatK)n can b8
measured or eslimaled reliably. Creditors and provisk)ns are nonnally rectsgnised al Iheir seluernent amount after
allowing for any trade discoufjts due.
Financial in$trum*nts
The scknl only has financial assets and financial liabilitTes ol a kn.nd that qualify as basic financial instNments
under FRS102. Basic finanGial Instruments are initially recogni5ed al transaction value and subsequently
measured at their selllèmenl value with the 8Xe8Ption of bank loans whl¢h are subs•quenUy rneasuie(J at
amorknse(I cost using th8 gffeclive 1rnte￿St method.
Hlré purchaso and leaslng commblmènts
Rentals paid under operating leas88 a￿ Charged to the Statement of Financial Activities on a slrayht-line basis
over the peii(Kl of the lease.
Penslon ¢osts and other post-retlrement benelits
Many of the teaching staff are mernbers of the Tgachers. Ponsw)n Scheffl8 ITPSI, a defined benefit s¢heme
administered by the Tea¢her5' Pension ￿ncy. The Teachers, Pension Scheffle is a mulli-employer ￿n￿on
scheme which 1$ unfunded. Actuarial valuations are ¢amEd out on a notional sg10l inveslrnenls.
The schwl is unablg to identify its 5har8 of Ihe und8rlying Inolionall a5set5 and liatm11t￿ of th? schem8.
Accotdingly, under FRS102. the srherne 15 accounted for as If il We￿ a defined ¢oniribulions scheme. The
School's ¢ontributK)ns. which are Jn a￿Ordance with Ihe reeommendations of the (>)verntnent Actuary. are
charged to the Staternent of Financial A¢tiwlie5 in Ihe period in whith the salaries to which they relate aro
p8yable.
The sthool also contri)utes lo personal scherngs for other teachers tK)n-teathing staff. Thesg
5ehemes are defined ¢onlribution schemes. The assets of the schernes are held separately from those of the
school in indep8ndÈnlly admlllistered funds. Contnbutions payable for the year are charged to the Statement tsf
Finanoal Aclivi118s. The sth(y)I has no other liabilities under thèse schernes.
Employee benefits
Short term employee benefits in¢luding hdiday pay are ￿CognISed in the Stalefflent of Financial Aclivih"8s in the
peri)d in which the setvi¢e Is rendered. Termination benefits a￿ accounted for on an accrual basis arKI i
accordance with FRSIO2.
Public benefit
Thè s¢hool is a PuL4ic Benefit Entity
Pagb 18
continued...

SEVEMOAKS PREPARATORY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS- corttlnu•d
FOR THE YEAR ENDED 31 AUGUST 2023
DONATIONS AND LEGACIES
2023
Total
lunds
2022
Total
funds
un￿$t11cle0
funds
R8strEted
funds
Donatlons
Gift aid
83,855
1.054
5,000
88,855
1,054
52,651
4,766
84.909
89.909
57.417
OTHER TRADING ACTNITIES
2023
Total
fund$
2022
Total
funds
Unr8Stricted
funds
R8Stricted
lunds
Extern81 hire
6.140
6,140
2.636
INVESTMENT INCOME
2023
Total
lund5
2022
Totsl
fund¥
Unigslrictod
funds
Restri¢ted
funds
Deposit ac¢ounl interest
26,695
904
INCOME FROM CHARITABLE ACTIVITIES
2023
2022
School fees
R8gi8tralion f88S
Bur58ries, scholarship5 and discounts
Sehcol shop
5.728.084
7,775
1169.8991
3,989
5,372.877
6,310
1141.3431
27,65S
5.570.149
5.265.499
RAISING DONATIONS AND LEGACIES
2023
Total
lunds
2022
Total
funds
unrestr￿ted
funds
Restricted
funds
Fundraisin9 costs
46,663
46 663
17,482
CHARITABLE ACTNMES COSTS
Support
cosis l$ee
note 81
Education
5.053.799
Page 19
con*'nued...

SEVENOAKS PREPARATORY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS . ¢onllnued
FOR THE YEAR ENDED 31 AUGUST 2023
SUPPORT COSTS
Welfar&
¢osts
Deve￿ment
ost$
Teaching
¢osls
Finance
Education
121.213
329.924
20,070
2,828.832
Prernise5
costs
Support
costs
Gov8rnanc8
costs
Totals
Educalv)n
1248.956
475,459
5,053,799
Support costs, included in the above, a￿ as lollows.
Flnance
2023
2022
Total
adNities
Edu&qtion
Bank Ir>te￿sI and charyes
121,213
123,246
Welfare costs
2023
2022
Total
a¢tivib"es
Education
ConlraGteil catering staff
Cost of mea15
173,487
156,437
167.879
132.444
329.924
300,323
Devobopmnl eostS
2023
2022
Total
activities
Education
Wages
Social security
Pens*ons
18,243
1,280
547
28.745
1,943
830
20.070
31.518
TeaGhlng costs
2023
2022
Tolal
adivits8S
Education
Wages
Social security
Pensions
Tutors and instructors
Tiaining
Subscriptions
C*a5sroom supplies
2.070,584
202,8
326,918
28,306
23,266
9,102
167,760
1.991,008
200,604
346,047
44.120
13,466
7.235
237,298
2.828,832
2.839.778
Page 20
continued...

SEVENOAKS PREPARATORY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnu8d
FOR THE YEAR ENDED 31 AUGUST 2023
SUPPORT COSTS- ¢ontIn￿￿
Pr*mi$t$ ¢05ts
2023
2022
Tot81
activities
Educèlion
W8ge5
Social security
Pensions
Rent and rates
Insurance
Heat and light
Repa￿rS and matnlenarKe
Grounds
Cleaning
Motor & travelling exp8ns8S
Depr&￿a￿.0￿ of tar#Jitle fixed assets
103.311
10,638
3,099
229,305
48.657
120.359
92,348
47.990
129.622
30.484
433.142
100.608
10,555
2,905
214,579
35.609
88.990
70.807
38.035
113.190
10.977
417.923
1248.955
1 104,176
Support Costs
2023
2022
Total
activities
EdueatK)n
Wages
Soci81 security
PensK)ns
Hife of eqvipmeni
Telephone
Advert+5ing & markellng
Headmasters entsrtainment
Sundry expeA$es
Postage and stationery
Legal & professional fe8$
317,414
31,803
9,523
23,223
9,082
28,816
827
2.466
20,684
31.621
314,388
31,922
8,334
35,705
8,392
33,325
1,961
3.198
22.601
49.362
475.4S9
509.188
Governance costs
2023
2022
Total
actNities
EduCat￿n
Govemors, expen5tsS
Auditor5. retnuneralon
AcC￿nIanCY fees
954
10.125
18.266
448
9.315
18.353
29,345
28,116
NET INCOMEIIEXPENDITUREI
Net incomellexpendilurel is stated aft8r charglngllcreditingl..
2023
2022
Dopr8aation- owned assgls
Depreoation- assets on hi￿ purchase contracts and financ818a5*S
Hire of plani and rna¢hinery
Other operating leas8$
su￿¥Us on dispos81 of fixed assets
428.678
4.464
23,223
229,305
6.2351
413.461
4.464
35.705
214.579
4.6851
Paga 21
c4)ntinuod...

sevENOAKS PREPARATORY SCHOOL LIMrrED
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENOED 31 AUGUST 2023
10.
AUDITORS. REMUNERATION
Audsto¥s' rernun8r3bon for the year totalled £10.125 12022.. £9.3151.
11.
GOVERNORS. REMUNERATION AND BENEFITS
None of the gowernors lor any person5 connected with them) r8CaiV8d any 18rnUn8ration or 0th8r benefits fr(x
any employment wrth the 5¢hool during the current or premous year.
No amounts were due tts or from the governors at the balance sh8et d8te12022.. £nill.
Govemor5' expen8e$
2023
2022
Tru5le&s' exp8ns8s
954
448
12.
STAFF CQSTS
2023
2022
Wages 8nd salar4es
Social security costs
Other pension costs
2,509,552
246,617
2.434,749
245,024
358,116
3.096,256
3.037.889
Th8 average monihly number of employees duriThJ the ￿ar was as follows..
2023
83
2022
Ernployees
The number of employees whose ernployee benefits lexckttling employer pÈnsion ¢ost$l ex¢eeded £60,000 %WdS'.
2023
2022
£70,001- £80,000
£80.001 - £90,000
£90,001 _ £100,000
Conthbutions totalling £48.283 12022: £55,716) were made duwing the year to pension schemes on behalf of
employees whose employee benefits exce8d £60,000.
The key management pet50nnel of the schrA)I comprise the Headffla5ter, the eursar. the Deputy Head. the Head
of Pre-Prep,. Assistant Mead5 and the Head ol Earty Years. Thè totsl ernployee b8nefils inckjding wnsion
¢ontsibubons for the key management personnel were £694.251 12022 £675.2861.
Page 22
continued...

SEVENOAKS PREPAIIATORY SCHOOL UMITED
NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnu
FOR THE YEAR ENDED 31 AUGUST 2023
13.
C¢)MPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES
Dasigna18d
f5xed
ass81
rund
UnreslrKt8d
f￿nd
Restricted
fund
Totsl
lunds
INCOME AND ENDOWMENTS FROM
Donations and leg8CI8S
38,217
19,200
57,417
Charftablo actlvltFO$
Education
5.265.499
5.265,499
Other Iradlng activities
Investment inctsme
Other income
2,638
2.974
2,636
3.040
Total
5314211
5 333 477
EXPENDITURE ON
Ralsln9 funds
Rai5Mg donations and l8gacE8S
17,482
17,482
Charitable actlvttles
Education
4,935,459
4.936,347
Othei
596
596
Total
4,953,537
887
4.954,425
NET INCOMEIIEXPENDITUREI
360,874
18871
19.265
379,052
RECONCILIATION OF FUNDS
Total fund$ brought lO￿ard
4.198,528
18.817
33.445
4,250.790
TOTAL FUNDS CARRIED FORWARD
4,559,202
17.930
52,710
4,629,842
14.
LEGAL STATUS
The company. wh￿h is regi5t8Ted in England & Wales, is limiied by gUar￿lee and has no share capital. Th8
liability of the memb8rs in the event of a winding up is limi18d to £10 8ach per memb8f.
No oThe party has ove¥811 control of the schoDI.
Pag• 23
continued...

SEVENOAKS PREPARATORY SCHOOL UMtrED
NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued
FOR THE YEAR ENDED 31 AUGUST 2023
1S.
TANGIBLE FIXEO ASSETS
Capitalised
rinance
le8se lor
classrooms
Improvements
lo
leasehold
property
Fixtures
and
fittin95
Motor
vehicles
Towis
COST
At 1 S¢ptember 2022
Additions
Disposals
134,026
9.122,374
106,835
913,328
78.881
79.485
10.249.213
185.718
8.1001
At 31 August 2023
134.026
9.229.209
992.209
71.385
10.426,829
DEPRECIATION
At 1 S8ptember 2022
Charge for year
Elirn&naled on disposal
134.026
2.657.155
358,317
844.244
72,361
50.949
4.464
4,8601
3.688,374
433,142
4,860
At 31 August 2023
134.026
3 013,472
916.605
50.553
4.114.656
NEf BOOK VALUE
At 31 August 2023
8.215.737
75,604
20.832
6.312.173
Al 31 August 2022
6,465219
69,084
28.536
6,562 839
Leasehold property has been pledged as se¢urity for & bank loan.
Fixed assets, snduded in the above, are held underfinarKe leases are as fdlows..
Molor
vehtel&s
COST
Al 1 SeptÈmbor 2022 and 31 August 2023
29.760
DEPRECIATION
At 1 September 2022
Charge for year
4.464
4,464
At 31 August 2023
8,928
NET BOOK VALUE
Al 31 August 2023
20,832
At 31 August 2022
25,2%
16.
OEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR
2023
2022
Trade debtors
Olh8r deblors
Pr8paid eMp8n8es
7,293
1,170
124.35S
11,486
$9,320
132,818
70.806
17.
CURRENT ASSET INVESTPAENTS
2023
2022
Fixe¢ tem) deposit
200,000
Pag8 24
¢ontinued...

SEVENOAKS PREPARATORY SCHOOL LIMITeD
NOTES TO THE FINANCIAL STATEMENTS- contlFtued
FOR THE YEAR ENDED 31 AUGUST 2023
18.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Bank loans and overdrafts (sèe note 201
Flnan¢e leases Isee note 211
Trade creditors
Social security anrs Olher taxes
Other Creditors
Fee d$rx)slts
Fees ￿ceIVed in advance
A¢uu8d expenses
150,000
4.869
128,735
54,299
31.946
39,000
651,569
85,529
150,000
4,670
97.360
52.037
42.405
48,000
742,630
38,834
1.145.Y47
1.173938
19.
CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023
2022
Bank loans Ise8 note 201
Financ818ases Is88 note 211
Long tenn fee deposits
Fees received in advance
2,700.000
10.389
280.949
28.590
2.850,000
15.238
268,632
3,019.908
3.317.215
LOANS
An analysis of the matunly of108n$ is gNen below..
2023
2022
Amounts falling du8 Wthin ona year on demand..
Bank loan5
150.000
150.000
150,000
150.000
Arnounts falling due belv￿8￿ iwo and five yaars..
Bank loans- 2-5 years
2 700.000
2.850.000
Inte￿$t is charged at a fixed rate of 4.01Yo and is interest only until 28 June 2022 and which ptynt upilal
payments starl. The loan is ￿payable èfter S years and will be refinanced at thal stage.
The bank loan from Handelsbanken has been wured a98inst the land wistered wilh the title number K739282.
Pago 25
¢Ontinu8d...

SEVENOAKS PREPARATORY SCHOOL LIMITED
NOTES TO THE FINANCEAL STATEMENTS - ¢tsntinued
FOR THE YEAR ENDED 31 AUGUST 2023
21.
LEASING AGREEMENTS
Minimum lease payn*nts fall due as follows..
Fin8n¢e le8S8S
2023
2022
Gros5 obligat*ons r&payable'.
Wilhtn one year
Between one and fve ￿aT5
5,412
10.825
5,412
16,237
16,237
Finance charges repayable..
Wlthin one year
Between one and five ye8r8
543
456
742
999
999
1,741
Nel obligations ￿paya)￿..
Within one year
Betsween one and five years
4,869
10,369
4,670
15,238
15,238
19.908
NorKancellab18 operating
leases
2023
2022
Within one yeai
Between one and five years
In more than five years
246.247
953.557
2,803,899
214,547
893,637
4,122,OS7
4 003,703
5,230.241
The School operates from p￿[niseS subj'ect lo a lease Ihal expires in December 2041. The rent is reviewed
every five ye8FS, th8 last review was ¢ondLtded ￿ January 2023. A phased increas8 in rent was agreed
beiween Septetnbor 2022 and June 2024. Increasing trom £183,600 per annurn to £211.500 per annum from
June 2024.
In¢luded Wit￿.￿ operating leases is £3,854.644 12022. £4,046,962) relating to land and buikjing and £149,058
12022.. £75,095) relalThJ to othgr ¢ommitmeDIS.
Pa98 26
¢onts"nu&1.

SEVENOAKS PREPARATORY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS . ¢ontlnu¢d
FOR THE YEAR ENDED 31 AUGUST 2023
22.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
2023
2022
Designalecl
fixe¢S
as$8t
fund
Unrestthtsd
fund
Restricted
hjnd
Tolal
funds
Total
funds
Fixed assets
C￿￿￿t assets
cut￿￿1 liabllities
Long tern) Iiabilllios
6.312.173
1642,8921
11.145,9471
3,019,908)
6,312,173
6,562,839
3,082,352
2,558.154
11,145.9471 11,173,9361
3,019 9081
33172151
3,666,630
58,614
1.503.426
3,666,630
58,614
5,228 670
4 829,842
23.
MOVEMENT IN FUNDS
Net
movement
in funds
Transfer5
between
fund5
At
31.8.23
At 1.9.22
Unr•$lrl¢t¢d lunds
Gener31 fund
Dosignaied fixed asset fund
4.559.203
17,929
593,813
8891
13,649,590)
3 649.590
1,503,426
3 666.630
4.577,132
592,924
5,170,056
Restricted funds
R8stricled Fun
52,710
5,904
58,614
TOTAL FUNDS
4.629.842
598,828
5,228,670
Net mov9ment in lunds, induded in the above are as folows..
Incorning
resources
Resources
expended
Movernent
in funds
Unrostrlcted funds
General fund
Designated fixed assel fund
5.694.128
15.100.315)
8891
S93.813
8891
5,694,128
15.101.204)
592,924
Rostrlcted funds
Restricted Fund
5.904
5.904
TOTAL FUNDS
5 700 032
5,101.2041
598 828
Page 27
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SEVENOAKS PREPARATORY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 AUGUST 2023
23.
MOVEMENT IN FUNDS- contlnu•d
CornparatiVe5 for movemenl In fun(ts
Net
ovement
in funds
Al
31.8.22
At 1.9.21
Unrestrlded lunds
General fund
Designated fixed asset fund
4,198.528
360.675
8881
4.559,203
17,929
4.217,345
359,787
4,577.132
Ra8trlcted fitrt)d$
Restricted Fund
33,445
19.265
52,710
TOTAL FUNDS
4 250,790
379.052
4 629.842
Comparative Det movetnen¢ in funds, induded in th¢ above are as fottows..
Incoming
resources
Resources
exp8nd8d
Movemenl
in funds
Unrostrict8d funds
Generdl fund
Designated fixed asset fund
5,314,211
14,953,536)
8881
360.675
5.314,211
14,954.4241
359,787
Restricted fijnds
Reslrided Fund
19,266
19.265
TOTAL FUNDS
5,333,477
4,954,4251
379.052
The restrided lund5 are held as part of the cornpanls bank balance. The bursary lund represents a donatiQFI
towards a bursary. Mso a transfer Irorn the general fund lo the bursary was made 4Juririg the yeaf ended 31
August 2017. A separate bursary committee has beefi established to oversee this fund. The ￿Th￿ aims lo support
families who may succumb lo unforeseen disastÈrs suth a5 sud(JÈn bereavement. dNor¢e. ￿dun￿ancY or the
collapse ot a family business and will provKle as$i$ianee in payiNJ s¢hool fees.
The balance sheet has been am8nd8d to show the property assets of the school 85 dislincl. This d&s￿nated
fixéd assot fund gquate5 to the nel book value of the fixed assets of th8 schwl 188S th8 oulstsnding 8rnount of
bank loan.
CApifAL COMMITMENTS
2023
2022
Contracted bul not provided for in the fillan￿al slatements
49,888
The play equipment that we have on both the Pr8p and Pre-Pr8p sides of the schtt)I has reached the of it,
life and we have cofflmitled lo il being replaced ir* the beginning ol Ihe new s¢kK)ol year. This wsll im¥Kove and
bullrl upon the faalities provided for the children to enjoy durlng break limes as well as alding thelr physical
devebpment.
Page 28
conb'Trued...

SEVENOAKS PREPARATORY SCHOOL UMIYEO
NOTES TO THE FINANC5AL STATEMENTS- conllnued
FOR THE YEAR ENDED 31 AUGUST 2023
25.
OTHER FINANCIAL COMMITMENTS
PENSION COMMITMENTS
The S¢Pwl parb¢ipate$ in the Teachers, Pension S¢heme I'th8 TPS'I for its t8aching stsff. The pensh)n charge
for th8 year includes contribution$ payable to the TPS of £222,556 12022.. £334,567) and al the year*nd £28,281
12022.. £37,380) was accrued in respect of contributions lo this scheme.
The TPS is an unfunded mutti*mployer defined ben8fits pension $theme governed by The Teaeher$' Pensions
R8gulations 2010185 amended) and The Teachers, Pension Scheme Regulations 2014 la$ am8nd8(11. Memtyers
contrsbule on a pay as you go. basis with contributions from m8mb8rs and th8 8rnployer being cr8dit84 to the
Exchequer. Reliremenl and othef pensKJn ben8fits are paid by publi¢ fund$ provkled by Partiam8nt.
The employer contribution rale is set by the Secretary of Slate followng schen7e valuations undertaken by Ihe
Government Actuary's Department. The rnosl recent acluarial valuation of the TPS was prepared as at 31 March
2016 and the Valuatkjn Report, which was published in March 2019, confirmed that the employer contribution
rate for th& TPS would incr8358 from 16.4UA lo 23.6Y4 troffl 1 Sepl8rnber 2019. Empbyor5 are also required to
pay a 5chem8 adrntnistratiotF18vy of o.oe?h gwlng 8 total ernploy8T Contribution rate of 23.68
The 31 March 2016 Valuation Report W8s pr8par8d in accordance with the ben8fi1S 58t oLrt in th8 schem8
regulation$ and und8r the appr08ch specified ill the Directions, 85 Ihey appl¢ed 8t 5 March 2019. However, the
as5urrption5 w8re con5h*ered and s81 by the Department lor Educats'on wor lo the Nling in th8
'McCloudlS8rgeallt ca58'. Thts case has required th8 Courts to consKJef case5 regardiThJ the implam8nta*'tsn of
the 2015 refomis lo Public S8rvice Pensions induding the Teacher5. Pensions.
On 27 June 2019 the Supreme Court denled the govemment permission to appoal the Court of Aw>e81'
judgment that Iran51tional provision5 ItFtroduced lo the ref0￿ell PenS￿)n schemes in 2015 gave Yise to unlawtul
age discrimination. The govarnment is respecting lh8 Court's decision and has said it will 8ngage fully with the
Employrnenl Tribunal as well 85 employer and mernber representatives to agree how the discrirnination5 will be
remedied. The governmellt announced on 4 February 2021 that it intends to proceed with a deforred choice
underpin under whi¢h rnembefs will be able lo choose either legacy OT reformed scherne benefils in respect of
their durin9 the penod between 2 April 2015 and 31 March 2022 al the point Ihey be￿fie payablg.
The TPS is subject lo a ¢o$t ¢ap me¢han16m wh(ch was put in pla¢e lo prole¢l taxpayers against unforeseen
changes in scheme costs. The Chief Secretary lo the Treasury, having in 2018 arnnounced that there would be a
review of this cost cap m8cfonism, in January 2019 announced a pause to the cost cap m8chanisfn following the
Court of Appeal's fuling in th8 McCloudlSarg&ant ease and tsntil there is certainty atrM)Ut the valu8 of pensions lo
employees from April 2015 onwards. The pause was lifted in July 2020. and a ¢onsuttalion was launched on 24
June on proposed changes 10 the cost control mechanism following a review by the Govemmenl Actuary. The
consultation dosed to response on 19 August 2021 and the Government is currentty analysing the resportses.
In view of the above rulings and decisions the assumptions used in the 31 March 2016 Actuarial Valuation may
b8com8 inappropriat8. In this scenario, a valuation pieparad in accordance wilh revi58d ben8fils and suilabty
revised assurnptions would yidd drfferent re5uIt5 than those contained in the Actuarial Valuation.
Until the cosi cap mochanism rèview ts cofflpleted il is nol possiNe to eondude on any financial impact or future
changes lo the cOntribut￿)n rates of the TPS. Accordingty no provision tof any addi*'onal past benefft pensKJn
osts is iFFdu4Jed in these financial 51atements
val￿atiON oltht T•a¢hers' Pension Schefflo
The Govemmenl Aciuary. using nom)al actuarial principles. ￿1￿lucts a fr)rm81 aduai*81 review of the TPS in
aGwrdance with the Public S8fvice Pen￿on5 IValualion5 and Employer C05t Capl Direcb'on5 2014 published by
HM Treasury evèry 4 yoars. Tho aim of tho rèview is lo specify th8 level of fulur8 contributions. Actuarial sch8mg
valuations are dependent on assumption$ at)out the value of future costs, design of benefits and many other
factors. The lalesl aduarial valuation of the TPS was Carried out as al 31 March 2016. The valuation report was
published by Ihe Department for EducAtton on 5 March 2019. Thtr key elements of the valuation and subsequent
¢on$ullation are.
o employer contribulioD rates set at 23.68% of pensionable pay linduding a 0.08% admini5tralK)n levyl
o total scheme liabilities (pensions ¢urr8ntly in payment and the esbmated cost of fuluTe benefrtsl for 5erwico to
the effective (Sale of £218,100 millKJn 8nd notional assets leslimaled future ¢onlributsons together with Ihe
otional investments h81d at the valuation dal81 of £196,100 mulion, giving a notional past $ervi(t d&fic4t of
£22.000 million
Page 29
¢ontint$8d...

SEVENOAKS PREPARATORY SCHOOL UMITED
NOTES TO THE FINANCIAL STAfEMENTS- continued
FOR THE YEAR ENDEO 31 AUGUST 2023
25.
OTHER FINANCIAL COMMITMEMfs- continued
o the SCAPE rate, set by Hmt. is Used to deletmine the notional inve$lmenl retum. The eurr8nt SCAPE rate 15
2.4% atM)ve the Tate of CPI. assumed real rate of Tetum Is 2.4°A in &x¢ess of pitces and 2% in 8xcass of
eamings. The rate (kf real earnings grolyth 15 as5urned lo be 2.2%. The assumed nominal rale ol retum inclL¥Jing
eamirvJ$ growth 1$ 4.45%.
The next valvalKJn result is due to b8 iMp￿mented frorn 1 Apiil 2024.
A copy of the valuation report 8nd supporting documentation is on the Teachers. Pensions webslle.
Under the defi'nilK)n8 sel out in FRS 102, the TPS is an unlunded rnulli-employer pension s¢h*m&. The Charity
has accounted for its conlribulion5 to the scheme as if il were a defitied contnbutK)n stheme.
G¢)vemmvnt P91151on 5eheme
The Charrty pays pensi¢)n conlribulions lo inlo definèd contiibutron pensi￿ Sf*emes for those employ8es WIK) do
not participate in the TPS. The atnount recognised as an expense in the year was £117.591 12022. £13,887).
The amount owed lo the p￿$10￿ schemes at the year end was £5,66512022.' £5.1711.
RELATED PARTY DISCLOSURES
The￿ were no related party transacliw$ for the year ended 31 August 2023.
Page 30