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||Page|
|---|---|
|Company<br>Information||
|Directors' Report (incorporating<br>the Strategic Report)||
|Directors'<br>Responsibilities<br>Statement|23|
|Independent<br>Auditor's<br>Report|24|
|Consolidated<br>Statement<br>of Financial Activities|28|
|Charity Statement ofFinancial Activities|29|
|Consolidated<br>and Charity Balance Sheet|30|
|Consolidated<br>Cash Flow Statement|31|
|Notes to the Financial Statements|33|





## 

|Directors|Directors|||L M Nash BEd FIOD|L M Nash BEd FIOD|ISM (Chairman|and Custos)|
|---|---|---|---|---|---|---|---|
|||||Dr RA K Mott BA PhD (Vice-Custos)||||
|||||CA Cavaghan-Pack||BEdJP||
|||||CA Cooper||||
|||||M D Featherstone|MA PGCE|||
|||||M A Gunn<br>MA (Ed)||||
|||||C H Hirst MA||||
|||||JER Houghton<br>MA||||
|||||R M U Lambert<br>MA||||
|||||WJ Morrison BScMRICS||||
|||||Bishop W N Stock|BA, Dip Theol.|||
|||||M FTrimble BScACA FCSI||||
|||||Commodore JRA|Woodard BASC (Hone), MSc, PG Cert|||
|Secretary||||SC Worthy<br>BA MBA||||
|Charity|Number|||1103346||||
|Company||Number||05064301||||
|Registered||Office||20 Holway Avenue||||
|||||Taunton||||
|||||TA1 3AR||||
|Principal|Addresses|||King's College Taunton||||
|||||South Road||||
|||||Taunton||||
|||||Somerset||||
|||||TA1 3LA||||
|||||King's Hall School||||
|||||Kingston Road||||
|||||Taunton||||
|||||Somerset||||
|||||TA2 SAA||||
|Key Management|||Personnel|||||
|Heads||||R R Biggs, MA BSc(King's College Taunton)||||
|||||JTSChippendale,|BSc(King's Hall School)|||
|Director|ofFinance and|||SC Worthy BA MBA||||
|Operations||||||||





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|Auditors||RSM UK Audit LLP|RSM UK Audit LLP|||
|---|---|---|---|---|---|
|||Hartwell<br>House||||
|||55-61 Victoria Street||||
|||Bristol||||
|||BS16AD||||
|Tax advisers||RSM UK Tax and Accounting|||Limited|
|||St Philips Point||||
|||Temple Row||||
|||Birmingham||||
|||West Midlands||||
|||B25AF||||
|Bankers||National Westminster||Bank pic||
|||49 North Street||||
|||Taunton||||
|||TA1 1NB||||
|Solicitors||DAS Law Limited||||
|||North Quay||||
|||Temple Back||||
|||Bristol||||
|||BS16FL||||
|||Porter Dodson||||
|||The Quad||||
|||Blackbrook Park|Avenue|||
|||Taunton||||
|||TA1 2PX||||
|||Veale Wasbrough|Vizards|||
|||Narrow Quay House||||
|||Narrow Quay||||
|||Bristol||||
|||BS14QA||||
|Insurance|Brokers|Marsh Insurance|Brokers Limited|||
|||1 Tower Place West||||
|||Tower Place||||
|||London||||
|||ED3R 5BU||||





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||||2020-21|2019-20|
|---|---|---|---|---|
|Energy consumption|used to calculate emissions|(kWh)|6,631,655.06|5,514,569.90|
|Energy consumption|break down (kWh):||||
|~gas|||3,887,998.50|3,118.257.00|
|~electricity|||1,484,278.50|1,399,664.00|
|~ transport<br>fuel|||167,915.43|216,021.29|
|~ Delivery Vehs Diesel|||8,974.86|13,893.89|
|~ Fuel —Garden Machinery|||8,702.57|3,231.09|
|~ burning<br>oil||||25,708.00|
|~ gas oil|||1,073,785.20|737,795.04|





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|DIRECTORS||||||
|---|---|---|---|---|---|
|The Directors who served during|the year,|and the committees|of which they are members,||are:|
|L M Nash (Custos)|||All committees|||
|Dr RA K Mott (Vice-Custos)|||All committees|||
|SJCarder|(retired 30|November 2020)|Education<br>and Pastoral|||
|C A Cavaghan-Pack|||Education<br>and Pastoral|||
|C A Cooper|||Finance and Estates|||
|G P Davis|||Finance and Estates, Remuneration|||
|M D Featherstone|||Education<br>and Pastoral|||
|M A Gunn|(appointed|17March 2021)|Education<br>and Pastoral|||
|C H Hirst|||Education<br>and Pastoral,|Remuneration||
|J E R Houghton|||Finance and Estates|||
|R M U<br>I ambert|||Finance and Estates|||
|WJ Morrison|||Finance and Estates|||
|LCScott|(retired 26|April 2021)|Education<br>and Pastoral|||
|Bishop Nigel Stock|||Education<br>and Pastoral|||
|M FTrimble|||Finance and Estates, Remuneration,|||
||||Appointments|||
|Commodore JRA Woodard|||Education<br>and Pastoral|||



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||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||Notes|Funds|Funds|2021|2020|
|INCOME FROM:|||||||||
|Charitable<br>Activities|||||||||
|School fees receivable|||||12,846,580||12,846,580|12,407,3(7|
|Ancillary<br>trading<br>income|||||915,707||915,707|624,185|
|Other trading activities|||||||||
|Non-ancigary<br>trading<br>income|||||189,349||189,349|226,266|
|Other activities||||||||9,872|
|Investments|||||||||
|Investment<br>Income|||||26,913||26,913|36,165|
|Bank and other interest|||||511||511|12,411|
|Voluntary sources|||||||||
|Appeal income and donations|||||360,591|211,063|571,654|786,667|
|TOTAL INCOME|||||14,339,651|211,063|14,550,714|14,104,883|
|EXPENDITURE ON:|||||||||
|Raising funds|||||||||
|Non-ancigary<br>trading|||||24,973||24,973|30,047|
|Financing costs|||||(14,980)||(14,980)|(78,837)|
|Investment<br>management|||||18,521||18,521|20,497|
||||||28,514||28,514|(28,293)|
|Charitable Activities|||||||||
|Education<br>and grant making||||7|14,529,554|19,200|14,548,754|14,208,853|
|TOTAL EXPENDITURE|||||14,558.068|19,200|14,577,268|14,180,560|
|Net income and expenditure|before transfers||||(218,417)|191,863|(26,554)|(75,677)|
|Realised gains/(losses)<br>on investment|||assets|13|66,092||66,092|(28,468)|
|Unmalised<br>gains on investment||assets||13|219,017||219,017|53,813|
|Net income|||||66,692|191,863|258,555|(50,332)|
|Transfers between<br>funds||||21|875|(875)|||
|NET MOVEMENT<br>IN FUNDS FOR THE|||YEAR||87,567|190,988|258,5SS|(50,332)|
|Fund balances at 1 September||2020|||18,180,155|213,315|18,393,470|18,443,802|
|FUND BALANCES at 31August||2021|||18,247,722|404,303|18,6S2,025|18,393,470|





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## 

|||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
||||||Notes|Funds|Funds|2021|2020|
|INCOME FROM:||||||||||
|Charitable<br>Activities||||||||||
|School fess receivable||||||12,846,580||12,846,580|12,407,317|
|Ancillary trading<br>income||||||915,707||915,707|624,185|
|Other trading<br>activities||||||||||
|Non-ancillary<br>trading<br>income||||||164,376||164,376|198,219|
|Other activities|||||||||9,872|
|Investments||||||||||
|Investment<br>Income||||||26,913||26,913|36,165|
|Bank and other interest||||||511||511|12,411|
|Voluntary<br>sources||||||||||
|Appeal income and donations||||||360,591|211,083|571,654|786,667|
|TOTAL INCOME||||||14,314,678|211,063|14,525,741|14,074,835|
|EXPENDITURE ON:||||||||||
|Raising funds||||||||||
|Financing<br>costs||||||(14,980)||(14,980)|(78,837)|
|Investment<br>management||||||18,521||18,521|20,497|
|||||||3,541||3,541|(58,340)|
|Charitable<br>Activities||||||||||
|Education<br>and grant making|||||7|14,529,554|19,200|14,548,754|14,208,853|
|TOTAL EXPENDITURE||||||14,533,095|19,200|14,652,295|14,150,513|
|Net income and expenditure||before transfem||||(218,417)|191,863|(26,554)|(75,677)|
|Realised gains/(losses)|on investment|||assets|13|66,092||66,092|(28,468)|
|Unrealised<br>gains on investment|||assets||13|219,017||219,017|53,813|
|Net income||||||66,692|191,863|258,555|(50,332)|
|Transfers between<br>funds|||||21|875|(875)|||
|NET MOVEMENT<br>IN FUNDS FOR THE||||YEAR||67,567|tao,ass|2ss,sss|(50,332)|
|Fund balances at 1 September||2020||||18,180,155|213,315|18,393,470|18,443,802|
|FUND BALANCES at 31August|||2021|||18,247,722|404,303|18,652,025|18,393,470|





## 

## 

|||GROUP||CHARITY|CHARITY|
|---|---|---|---|---|---|
||Notes|2021|2020|2021|2020|
|||6||6|f|
|FIXEDASSETS||||||
|Tangible assets|12|15,235,322|15,506,882|15,235,322|15,506,882|
|Investments|13|2,724,114|2,249,599|2,724,114|2,249,599|
|Investments<br>in subsideries|13|||101|101|
|||17,959,436|17,756,481|17,95$,537|17,756,582|
|CURRENT ASSETS||||||
|Stocks||15,145|22,782|15,145|22,782|
|Debtors||675,459|678,743|1,376,7$5|1,285,986|
|Cash||6,761,413|5,911,109|6,055,298|5,280,509|
|||7,452,017|6,012634|7,447,238|6,589,277|
|CREDITORS: due within one year|15|(5,154,915)|(4,392,603)|(5,150,237)|(4,369,347)|
|NET CURRENT ASSETS||2,297,102|2,220,031|2,2$7,001|2,219,930|
|TOTAL ASSETSLESSCURRENT LIABILITIES||20,256,538|19,976,512|20,256,538|19,976,512|
|CREDITORS: due atter more than one year|1$|(1,604,413)|(1,582,942)|(1,604,413)|(1,582,942)|
|TOTAL NETASSETS||18,652,125|18,393,570|18,652,125|18,393,570|
|CAPITAL AND RESERVES||||||
|Called<br>up sham capital|1$|100|100|100||
|FUNDS||||||
|Restricted<br>funds|21|404,303|213,315|404,303|213,315|
|Unrestricted<br>funds||||||
|General|21|15,3$7,4$5|15,653,483|15,397,495|15,653,483|
|Designated|21|2,850,227|2,526,672|2,850,227|2526,072|
|||18,247,722|18,160,155|18,247,722|18,180,155|
|EQUITYSHAREHOLDERS'FUNDS||18,652,125|18,393,570|1$,652,125|18,393,570|





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||||||2021|2020|
|---|---|---|---|---|---|---|
||||||6|f|
|Cash flows from operating|activitlesr||||||
|Net cash provided<br>by (used|In) operating|activities|||1,230,$78|44,322|
|Cash flows from investing|activities:||||||
|Dividends,<br>interest and rents|from investments||||27,424|48,576|
|Purchase of properly,<br>plant and equipment|||||(191,025)|(121,385)|
|Proceeds from sale ofinvestments|||||1,866,357|490,102|
|Purchase of investments|||||(2,074,277)|(440,951)|
|Net cash provided<br>by (used|in) investing|activities|||(371,521)|(23,559)|
|Cash flows from financing|actlvltlesr||||||
|Financing costs|||||(8,863)|(9,943)|
|Net cash provided<br>by (used|in) financing|acthdties|||(8,853)|(9,943)|
|Change<br>In cash and cash equivalents<br>in||the year|||860,304|10,720|
|Cash and cash equivalents|atthe beginning||ofthe year||6,911,109|5,900,389|
|Cash and cash equivalents|atthe end of|the year|||$,761,413|5,911,109|
|Reconciliation<br>ofnet Income/(expenditure)|||to net cash flow from operating|activities|||
||||||2021|2020|
||||||6|f|
|Net income/(expenditure)<br>for period (as||per|the Statement of||||
|Financial Activities)|||||258,555|(50,332)|
|Adjustments<br>fon|||||||
|Depreciation<br>charges|||||462,684|507,740|
|(Gains)ecsses<br>on investments|||||(285,116)|(25,345)|
|Dividends,<br>interest and rents|from investments||||(27,424)|(se,575)|
|Financing costs|||||27,374|30,440|
|Decrease/(increase)<br>in stocks|||||7,637|(1,314)|
|Decrease/(increase)<br>in debtors|||||3,284|(es,oei)|
|Increase/(decrease)<br>in creditors|||||783,784|(284,210)|
|Net cash provided<br>by (used|in) operating|activities|||1,230,678|44,322|





## 

||||2021|2020|
|---|---|---|---|---|
||||E||
|Analysis ofcash and cash equivalents|||||
|Cash at bank and in hand|||6,761813|5911109|
|Total cash and cash equivalents|||$,7$1,413|5,911,109|
|Analysis ofchanges<br>In Net Debt|||||
||At 1stSept|Cash|Other non-|At31stAug|
||2020|gown|cash changes|2021|
|Cash and cash equivalents|||||
|Cash at bank snd in hand|5,011,108|850,304||6,761/13|
|Total|5,811,108|850,304||6.761A13|





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|2|CHARITABLE AC|TIV|ITIES - A|NCILLARY|TRADING INCOME|TRADING INCOME||Group and Charity||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2021|2020|
|||||||||f|f|
||Extra subjects|||||||619,321|358,280|
||Entrance and|registration||fees and fees in lieu||ofnotice||93,672|88,730|
||Commissions|and|other income|||||202,714|167,175|
|||||||||915,707|624,185|
|3|OTHER TRADING|ACTIVITIES||||||Group||
||Nonwncglary<br>trading||income|||||2021f|2020|
||Rents receivable||and other sales|||||15,886|4,800|
||WST Enterprises||Limited|||||10,874|04,335|
||King's College|Schools International|||Limited|||162,589|159,131|
|||||||||189,349|228,256|
|||||||||Charity||
||Nonwncglary<br>trading||income|||||2021f|2020|
||Rents receivable||snd other sales|||||15,886|4,800|
||WST Enterprises||I imited|||||5,027|50,242|
||King's College|Schools International|||Limited|||143,463|143,177|
|||||||||164,376|198,219|
|||||||||Group and Charity||
||Other activities|||||||2021|2020|
|||||||||f|f|
||Interest on overdue fees||||||||9,872|
||||||||||0,872|
|4|INVESTMENTS - INVESTMENT INCOME|||||||Group and Charity||
|||||||||Total|Total|
||Securities investment||income||Unrestrictedf||Rash ictedf|2021<br>f|2020<br>f|
||Equities|||||11,028||11,028|15,141|
||Fixed interest|||||8,875||8,875|18,673|
||Alternatives|||||7,010||7,010|2,351|
|||||||26,913||26,913|30,155|
|5|INVESTMENTS - BANK AND OTHER INTEREST|||||||Group and Charity||
|||||||||Total|Total|
||||||Unrestrictedf||Restricted f|2021|2020f|
||Bank interest|||||511||511|12,411|
|||||||511||511|12,411|





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|VOLUNTARY SOURCES - GRANTS AND|VOLUNTARY SOURCES - GRANTS AND|VOLUNTARY SOURCES - GRANTS AND|VOLUNTARY SOURCES - GRANTS AND|VOLUNTARY SOURCES - GRANTS AND|VOLUNTARY SOURCES - GRANTS AND|VOLUNTARY SOURCES - GRANTS AND|DONATIONS|DONATIONS|||||Group and Charity|Group and Charity|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||Total|rota(|
|||||||||Unrestricted||Restricted|||2021|2020|
||||||||||5|||8|8||
||Government<br>Grant CJRS|||||||244,548|||||244,648|618,531|
||Donations|||||||116,043||211,063|||327,106|108,135|
|||||||||360,591||211,063|||571,654|705,6S7|
|ANALYSIS OF EXPENDITURE|||||||||||||||
|a)|Total Expenditure|||||||||Group|||||
|||||Staff Costs||||Support||Depreciation|||Total|Total|
|||||||(nots 9)f|||Costs<br>8|(note||12)<br>8|2021<br>f|2020f|
|Costs of raising funds:|||||||||||||||
||Non ancillary trading||||||||24,325||||24,$73|30,047|
||Financing cost (note 8)||||||||(14,980)||||(14,980)|(78,837)|
||Investment<br>management||||||||18,521||||18,521|20,497|
||Total cost of raising funds||||||648||27,866||||28,514|(28,293)|
|Charitable<br>expenditure|||||||||||||||
||Teaching|||6,106,899||||511,647|||28,616||6,647,182|6,837,398|
||Welfare||||718,562|||1,203,549|||4,707||1,$28,818|1,550,591|
||Premises||||858,637|||2,027,240||272,755|||3,158,632|2,821,739|
||School administration|||1,116,918||||1,233,810||156,507|||2,507,236|2,658,T43|
||Grants, awards and prizes||||||||||||||
||(ail from unrestricted<br>funds)||||||||6,038||||6,038|I1,255|
||Governance|||||||283,669|||||283,669|215,50T|
||ExpendiWre<br>nom restricted||||||||||||||
||funds||||||||19,200||||19,200|6,520|
|Total charitable expenditure||||8,801,016||||5,285,153||462,585|||14,648,764|14,208,853|
|Total expenditure||||8,801,664||||5,313,019||462,585|||14,677,26814,180,560||
|b)|Governance<br>included|in support||||costs|||||||||
||King's Schools Taunton|reimbumes||||governors||for out|ofpocket expenses|||including|travel subsistence|and|
||accommodation,<br>where|a claim||is|made. Two trustees were reimbursed||||||21,017during the year (2020:two were||||
||reimbursed<br>a total of5837)||||||||||||||
||||||||||||||Total|rota(|
||||||||||||||2021|2020|
||||||||||||||8||
||Remuneration<br>paid to auditor||for audit services||||||||||23,010|21,900|
||Additional<br>remuneration|paid|to|auditors|||for prior year|||||||010|
||Reimbursement<br>ofpersonal expenses||||||to governors||||||1,017|837|
||||||||||||||24,027|23,347|
|FINANCING COSTS|||||||||||||Group and Company||
||||||||||||||2021|2020|
||||||||||||||5|f|
||Other interest paid||||||||||||1,326|762|
||Bank charges||||||||||||7,527|9,I82|
||Pmvision<br>for bad and doubtful||debts||||||||||(23,833)|(88,781)|
||||||||||||||(14,980)|(78,837)|





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|||||
|---|---|---|---|
|STAFF COSTS||Group||
|The aggregate<br>payroll costs for the year were.||2021|2020|
|||E|E|
|Wages and salaries||7,170,272|7,277,845|
|Social security|costs|643,5'73|sssssf|
|Teachers' pension<br>contributions||871.339|901,318|
|Other pension|contributions|111,462|113,924|
|Pdivate Medical|Insurance|5,018|4,066|
|||8,801,664|8,953,014|
|||Charity||
|||2021|2020|
|Wages and salanes||7,169,624|7,273,811|
|Social security|costs|643,573|655,851|
|Teachers' pension<br>contributions||871,339|901,318|
|Other pension|contributions|111,462|113,924|
|Pnvate Medical|Insurance|5,018|4,066|
|||8,801,016|8,948,980|



|oonnected|body.||||||||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||E||
|Aggregate|employee|benefits|of|key|management|personnel|394,807|413,922|



|The|number|o|femployees<br>whose a|nnual<br>emoluments<br>were E60,000 or more was:||
|---|---|---|---|---|---|
|||||2021|2020|
|||||(number)|(number)|
||||E60,001 - E70,000|2|3|
||||E 70,001 - k 80,000|1||
||||E 80,001 - E90,000|1||
|||7 90,001-f100,000||1||
|||E|100,001 - E 110,000|1||
|||E|110,001 - E 120,000|||
|The|average|number<br>ofemployees||during the year calculated on a head count basis was:||
|||||2021|2020|
|||||(number)|(number)|
||Teaching||staff|129|130|
||Others|||143|137|
|||||272|257|





## 

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|GROUP||Freehold||||||
|---|---|---|---|---|---|---|---|
|||Land &|Plant &|Furniture|Computer|Motor||
|||Buildings<br>f|Equipment<br>f|&Fittingsf|Equipmentf|Vehicles<br>f|Total|
|Cost||||||||
|At 1 September|2020|17,717,722|672,828|943,814|825,953|23,400|20,183,717|
|Additions|||161,552||29,473||191,025|
|At 31 August 2021||17,717,722|834,380|943,814|855J26|23,400|20,374,742|
|Depreciation||||||||
|At 1 September|2020|2,807,505|391,443|582,769|579,795|15,323|4,676,835|
|Charge for the year||260,320|67,763|13,401|117,433|3,668|462,585|
|At 31 August 2021||3,067,825|459,206|896,170|697,228|18,991|5,139,420|
|Net book value||||||||
|At 31 August 2021||14,649,897|375,174|47,644|158,198|4,409|15,235,322|
|Net book value||||Furniture||||
|at 31August 2020||14,910,217|281,385|61,045|246,158|8,077|15,506,882|
|COMPANT||Land &||||||
|||Buildings|Plant &||Computer|Motor||
|||Freeholdf|Equipmentf|&Fittings<br>f|Equipmentf|Vehicles<br>f|Total<br>f|
|Cost||||||||
|At 1 September|2020|17,717,722|672,628|943,814|825,953|23,400|20,183,717|
|Additions|||161,552||29,473||191,025|
|At 31 August 2021||17,717,722|834y380|943)814|855)426|23y400|20)374742|
|Depreciation||||||||
|At 1 September|2020|2,807,505|391,443|882,769|579,795|15,323|4,676,835|
|Charge forthe year||260,320|67,763|13,401|117,433|3,668|462,585|
|At 31 August 2021||3,067,825|459,206|896,170|697,228|18,991|5,139,420|
|Net book value||||||||
|At 31August 2021||14,649,897|375,174|47,644|158,198|4,409|15,235,322|
|Net book value||||||||
|at 31 August 2020||14,910,217|281,385|61,045|246,158|8,077|15,506,882|





## 

## 

## 

|SECURITIES INVESTMENTS||||
|---|---|---|---|
|Group investments||2021|2020f|
|At 1 September 2020||2,496,655|2,457,180|
|New money invested||71,589|56,938|
|Reinvested<br>income||26,913|36,165|
|Amounts<br>extracted||(74,624)|(58,468)|
|Management<br>fees||(18,521)|(20,505)|
|Realised gains on investments||66,092|(28,468)|
|Unrealised<br>gains on investments||219,017|53,813|
|Group investments<br>at 31August|2021|2,787,121|2,496,655|
|Less: Investments<br>classified as|cash|(63,007)|(247,056)|
|Group Investments<br>at 31 August|2021|2,724,114|2,249,599|
|Investments<br>in subsidaries||101|101|
|Company<br>investments<br>at 31 August 2021||2,724,215|2249,700|
|Investments<br>comprise:||||
|Listed investments||||
|Fixed interest||250,568|631,907|
|Equities||1,541,762|1,159,403|
|Alternative<br>investments||||
|Hedge funds||72,462|100,168|
|Commercial<br>property funds|||52,032|
|Commodities<br>and other||859,322|306,089|
|Group investments<br>at 31August|2021|2,724,114|2,249,599|
|Investments<br>in subsidiaries||101|101|
|Company<br>investments<br>at 31August 2021||2,724,215|2,249,700|



|Black Rock ICS Institutional|Black Rock ICS Institutional|Sterling|Liquidity|Fund|300,000|11.01%|
|---|---|---|---|---|---|---|
|JP Morgan GBP Liquidity|LVNAV Fund||||300,000|11.01%|
|JP Morgan America<br>Equity||Fund|||157,795|5.79%|





## 

## 

|14|DEBTORS||||Group||Company||
|---|---|---|---|---|---|---|---|---|
||||||2021f|2020f|2021|2020<br>6|
||School fees receivable||||215,113|171,813|215,113|171,813|
||Trade debtors||||11,281|123,749|||
||Other debtors||||68,158|36,347|65,775|36,347|
||Prepayrnents<br>and accrued income||||382,835|346,834|382,835|346,834|
||Amounts<br>owed by group|undertakings|||||713,000|730,992|
||Woodard<br>Corporation||||72||72||
||||||675A59|678,743|1.376,795|1,285,986|
|15|CREDITORS: Amounts|falling due within||one year|Group||Company||
||||||2021|2020|2021|2020|
||||||8|||6|
||Deposits from parents||||379,351|320,458|379,351|320,458|
||Fees received<br>in advance ofterm||||2,777,150|2,150,710|2,777,150|2 150,710|
||Trade creditors||||834,238|684,181|833,160|884,181|
||Taxes and Social Security costs||||160,866|208,443|160,866|188,467|
||Pension Scheme<br>Deficit|Recovery Plan|||44,920|43,612|44,920|43,612|
||Other creditors||||499,648|455,116|499,048|455,116|
||Woodard<br>Corporation|||||62||62|
||Accruals||||458,742|330,021|455,742|326,721|
||||||5,154,915|4,392,603|5,150,237|4,369,347|
||Summary<br>of movement||in deferred income||||||
||Balance at 1 September|2020|||||2,150,710||
||Amounts<br>arising<br>in the year||||||2,777,150||
||Amounts<br>transferred<br>to SOFA||||||(2,150,710i||
||Balance at 31 August 2021||||||2,777,150||
||Deferred income arises|due|tofee payments<br>received||in advance ofthe new|financial year.|||
|16|CREDITORS: Amounts|falling due after one year|||||Group and Company||
||||||||2021|2020|
|||||||||5|
||Deposits from parents||||||1i491,970|1,426,339|
||Pension Scheme Deficit|Recovery Plan|||||112,443|158,603|
||||||||1,604,413|1,582,042|





## 

## 

|17|COMMITMENTS<br>UNDER OPERATING LEASES|COMMITMENTS<br>UNDER OPERATING LEASES|COMMITMENTS<br>UNDER OPERATING LEASES|COMMITMENTS<br>UNDER OPERATING LEASES|COMMITMENTS<br>UNDER OPERATING LEASES||Group and|Company|
|---|---|---|---|---|---|---|---|---|
||The future<br>minimum|commitments||under non-cancellable||operating leases|||
||for vehicles and temporary||buildings||are:||||
||||||||2021|2020|
||||||||5||
||within<br>1 year||||||104,204|50,843|
||within<br>1 to 5years||||||153,530|94,236|
||aRer 5years||||||||
||||||||257,734|145,079|
|18|SHARE CAPITAL||||||Group and|Company|
||||||||2021|2020|
||Authorised||||||||
||100Ordinary shares|off 1|each||||100|100|
||Allotted. called up and fully paid||||||||
||100Ordinary<br>shares|off. 1|each||||100|100|
|19|FINANCIAL<br>INSTRUMENTS||||||||
||||||||Group and|Company|
||||||||2021|2020|
||FINANCIAL ASSETS:||||||5||
||Investments<br>held at|FVthrough||Profit and Loss|||2,724,114|2,249,599|



## 

|19|FINANCIAL|INSTRUMENTS||
|---|---|---|---|
||FINANCIAL|ASSETS:||
||Investments|held at FVthrough|Profit and Loss|





## 

## 

## 

## 


|shorlfafi, the Trustee has asked the participating<br><br>follows:<br>Deficit contributions|employers<br>to pay additional<br>c|ontribution|ontribution|s<br>to the scheme as|s<br>to the scheme as|
|---|---|---|---|---|---|
|From 1 April 2016to 30September 2025|212,945,440 per annum<br>3%OneaCh<br>1 A<br>ril|(payable||monthly snd increasing||
|From 1 Apnl 2016to 30September 2026:|254,550per annum<br>(payable<br>3%oneach1A<br>ril)||morithly||and increasing<br>by|
|The recovery plan contributions<br>are afiocsted to each participating<br>employer<br>in||line|vnth|their|esfimated share of|
|the Sense 1 and Series 2scheme liabilities.||||||



## 

|||||||
|---|---|---|---|---|---|
|Present Values ofProvision||||2021|2020|
|||||5|5|
|Present value cfprovision||||157,363|200,216|
|||||Period ending|31 August|
|Reconciliation ofopening snd closing provisions||||2021|2020|
|||||6|6|
|Provision astarl of period||||200,215|238,632|
|Uruunding<br>ofthe discount factor|(interest|expense)||972|2,095|
|Deficit contributicn<br>paid||||(43,612)|(42342)|
|Remeasurements<br>-impact ofany|change|in assumptions||(212)|1,830|
|Remeasurements<br>-amendments|tothe contribution||schedule|||
|Provision at end of period||||157,363|200,215|





## 

## 

|Income and expenditure|Income and expenditure|impact||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||||6||
|Interest expense||||||972|2,096|
|Remeasurements|- impact ofany||change|in assumptions||(212)|1,630|
|Remeasurements|-amendments||to the contribution||schedule|||
|Assumptions||||||2021|2020|
|||||||%per annum|%psr annum|
|Rate ofdiscount||||||0.63||



|Deficit|contributions|schedule|2021|2020|
|---|---|---|---|---|
||||6||
|Year'|1||44,920|43,612|
|Year|2||46,266|44,920|
|Year'|3||47,656|46,268|
|Year|4||20,200|47,650|
|Year|5|||20,200|
||||159,044|202 656|





## 






## 

## 

## 

|The Company's|net assets belong to the various funds as follows:|net assets belong to the various funds as follows:|||||
|---|---|---|---|---|---|---|
|||Fixed assets|Inwmtments|Net current|Long term|Total|
|||||assets|gabglges||
|||||5|8||
|Share capital||||100||100|
|Restricted funds||||404,303||404,303|
|Unrestricted|funds||||||
|General||15,235,322|101|1,766,457|(1,604,413)|16,397,467|
|Designated|||2,724,114|126,141||2,850,255|
|Company||16,236,322|2,724,215|2,29T,001|(1,604,413)|18,662,125|
|Trading<br>subsidiary|||(101)|101|||
|Group - 31August 2021||15,235,322|2,724,114|2,297,102|(1,604,413)|18,652,125|
|||Fixed assets|Investments|Net current|Lon9 Ieflrr|Total|
|||||assets|gabgities||
|||||5|5||
|Share capital||||100||100|
|Restricted funds||||213,315||213,316|
|Unrestricted|funds||||||
|General||15,506,882|101|1,729,441|(1,582,942)|15,653,482|
|Designated|||2,249,599|277,075||2,526,674|
|Company||16,606,882|2,24$,700|2,219,931|(1,582,$42)|18,393,671|
|Trading subsidiary|||(101)|101|||
|Group - 31August 2020||15,506,882|2,249,599|2,220,032|(1,682,942)|18,3$3,571|





## 

## 

## 



## 

## 

|24|Reconciliation ofnet|incoming|resources|to net cash|||
|---|---|---|---|---|---|---|
||inflow from operations||||2021|2020|
|||||||f|
||Net Income for the year ended 31August 2021||||258,555|(50,332)|
||Adjustments<br>for||||||
||Depreciation<br>charges||||462,585|507,740|
||(Gains)Losses<br>on investments||||(466.662)|54,245|
||Financing<br>costs||||(8,853)|(9,943)|
||Purchase oftangible|fixed assets|||(181,026)|(121,396)|
||(Increase)/decrease|in stocks|||7,637|(1,314)|
||(Increase)/decrease|in debtors|||3,284|(84,051)|
||Increase/(decrease)|in creditors|||783,783|(254,210)|
||tlat Cash provided<br>by (used In)||operating|activities|850,304|10,720|
|26|Analysis ofcash snd cash equivalents||||2021|2020|
|||||||f|
||Cash in hand snd at|a bank|||6,761,413|5,9/1,109|





## 

## 

## 

|Year Ended 31August|20|20|||||||
|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Restricted|TOTAL|
||||||Notes|Funds|Funds|2020|
|INCOME FROM:|||||||||
|Charitable<br>Activities|||||||||
|School fees receivable||||||12,407,317||12,407,317|
|Ancillary trading<br>income||||||624,185||624,185|
|Other trading<br>activities|||||||||
|Non-ancillary<br>trading<br>income||||||228,266||228,266|
|Other activities||||||9,872||9,872|
|Investments|||||||||
|Investment<br>Income||||||36,165||36,165|
|Bank and other interest||||||12,411||12,411|
|Voluntary sources|||||||||
|Appeal income and donations||||||756,814|29,853|786,667|
|TOTAL INCOME||||||14,075,030|29,853|14,104,883|
|EXPENDITURE ON:|||||||||
|Raising funds|||||||||
|Non-ancillary<br>trading||||||30,047||30,047|
|Financing<br>costs||||||(78,837)||P8,837)|
|Investment<br>management||||||20,497||20,497|
|||||||(28,293)||(28,293)|
|Charitable<br>Activities|||||||||
|Education<br>and grant making|||||7|14,202,333|6,520|14,208,853|
|TOTAL EXPENDITURE||||||14,174,040|6,520|14,180,560|
|Nst income and expenditure||before transfers||||(99,010)|23333|(75,677)|
|Realised gains/(losses)|on investment|||assets|1$|(28,468)||(28,468)|
|Unrealised<br>gains on investment|||assets||13|53,813||53,813|
|Net income||||||P3,665)|23,333|(50,332)|
|Transfers<br>between<br>funds|||||21|875|(875)||
|NET MOVEMENT<br>IN FUNDS FOR THE||||YEAR||(72,790)|22458|(50332)|
|Fund balances at 1 September|||2019|||18,252,945|190,857|18,443,802|
|FUND BALANCES st 31August|||2020|||18,180,155|213,315|18,393,470|





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