**Charity Registration No. 1104715**
**Company Registration No. 05068428 (England and Wales)**
# **Wargrave House Limited (A Company Limited by Guarantee)**
**Report of the Trustees and Audited Financial Statements**
**For The Year Ended 31 August 2021**
## **WARGRAVE HOUSE LIMITED**
## **CONTENTS**
|Chairman’s Report|1|
|---|---|
|Report of the Trustees|2|
|Report of the Independent Auditors|11|
|Statement of Financial Activities|14|
|Balance Sheet|15|
|Cash Flow Statement|16|
|Notes to the Cash Flow Statement|17|
|Notes to the Financial Statements|18|
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
**CHAIRMAN’S REPORT**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
Over the last year the school and college has continued to operate under the spectre of COVID-19. We have managed to provide an onsite offer throughout the pandemic and subsequent lockdowns, offering face to face education for up to 60 percent of our learners. For those students who were not attending lessons onsite, we continued to provide education through remote learning packs and online tuition.
When faced with adversity people are inclined to show either their worst or best characteristics, I am proud to say that the Wargrave House Team demonstrated exemplary resilience, diligence and professionalism throughout the COVID-19 crisis. Despite the difficulties of the pandemic, we have continued to meet our own high expectations and have developed learning programmes that challenge and stretch our learners and students. We have had notable success across all areas of our provision and we are especially proud of our post 16 team who won the Natspec award for Pathways into Employment as well as the Educate Award for Community Partnership working.
We have continued to move towards a more devolved operating structure with our in house therapy being renamed “Sundial Therapy Services” enabling them to establish their own brand and offer community outreach programmes. We have also begun a process of continuous improvement and used a Governance Review as a starting point. Using the recommendations from this work we are implementing an ambitious programme of governance reform to ensure that Wargrave House is able to meet it’s strategic objectives moving forwards. Next year will see the organisation move towards a more agile operating structure with each service area having a clear identify whilst remaining closely aligned to our charitable objects.
The financial position of the charity remains strong and our leadership team continue to ensure we provide a caring and positive environment for the education of the children and young adults in our care.
I would like to thank everyone at Wargrave House Limited for their continued support and I look forward to the next phase of our development.
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**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES REPORT (INCLUDING DIRECTORS REPORT)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 October 2019).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
05068428 (England and Wales)
## **Registered Charity number**
1104715
## **Registered office**
449 Wargrave Road Newton le Willows Merseyside WA128RS
## **Trustees**
Stephen Whalley Melanie Peake Claire Reece Muir Miller Tom Harte Anika Ephraim Stuart Bell Anuradha Chandran Caroline Cubbon- King Paul Leigh Caroline Savage
(Chair of Trustees) (Resigned 25[th] April 2022) (Resigned 25[th] April 2022) (Resigned 17[th] January 2022) (Resigned 25[th] April 2022)
## **Company Secretary**
Robin Oliver Bush
## **Auditors**
MHA Moore & Smalley Richard House 9 Winckley House Preston PR1 3HP
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**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES REPORT (CONTINUED) (INCLUDING DIRECTORS REPORT) FOR THE YEAR ENDED 31 AUGUST 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Senior Leadership Team**
Robin Bush Chief Executive Officer Stuart Jamieson Head of Education Helen Driver Head of Therapy Services (Appointed 04/11/2020) Christine Powell Senior Care Manager (Registered Manager, LEAP) – (Resigned 31/08/2021) post not replaced Gary Van Oss Head of Finance & Business Resources (Appointed 27/01/2020) **Governing Body** Vivienne Beercroft Chair of Governing Body Kelley Garth Stuart Jamieson Sharon Hughes Philip Round Melanie Peake Kelly Pearson Gillian Pierre-Louis Moore
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Appointment of Trustees**
Trustees are appointed by the members and serve for three years after which they may put themselves forward for re-election. Trustees appointed other than at the Annual General Meeting serve until the next Annual General Meeting at which they may put themselves forward for re-election for a further three year term of office.
Trustees delegate responsibility for the day-to-day operation of the school and college to an appointed Governing Body, approved by the Non-Maintained Special School Regulations (NMSS) board of the Department for Education. There are two parent representatives on this board. The Governing Body has a very detailed governing document, the Instrument of Government, and all committees have terms of reference.
All trustees sign a declaration to confirm they are not disqualified from acting as a charity trustee under the provisions of section 72 of the Charities Act 1993. This is reviewed on an ongoing basis. Governors sign a similar declaration to confirm their eligibility and a register is maintained of pecuniary interests. All voluntary members hold an enhanced Disclosure and Barring Service (DBS) check and receive in-house safeguarding training and updates.
## **Induction and training of new trustees**
Newly appointed trustees participate in an orientation programme. The objective of the programme is to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. During their induction period they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
## **Risk management**
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finance of the charity, and are satisfied that systems are in place to mitigate any exposure to major risk
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**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES REPORT (CONTINUED) (INCLUDING DIRECTORS REPORT) FOR THE YEAR ENDED 31 AUGUST 2021**
## **OBJECTIVES AND ACTIVITIES**
Wargrave House Limited operates a non-maintained residential special school (Wargrave House School) approved by the Department for Education for children diagnosed with autistic spectrum disorders aged 5-19, and an independent specialist college Wargrave House 'LEAP' (Lakeside Early Adulthood Provision) for young adults aged 19-25 with autism and associated learning difficulties. LEAP provides up to 14 day places with residential provision for up to 6 students per night (term time only).
The charity's objects, as contained in the company's Memorandum and Articles of Association, which are carried out for the public benefit are:
- To advance the education of children and young people with autistic spectrum disorder by carrying on and managing a school and a further education college and provision of outreach services; and
- To promote the relief and personal development of persons with autistic spectrum disorder by the provision of residential accommodation and support for living.
The aims of Wargrave House Limited are:
## **Commitment**
- We are committed to building a safe, caring, and understanding environment, creating an atmosphere where everyone can develop to their highest potential. We are an inclusive learning community, working in partnership with families, government agencies, local authorities and other service providers.
## **Achievement** & **Success**
- We are proud of the field in which we are involved and value the talents and contributions of all our service users and staff. Our goal is to make a difference to quality of life for people with autism and their families, by promoting independence and ensuring that each individual's uniqueness is celebrated.
## **Respect**
- We listen to and respect each other and value all people's opinions and contributions. Self-advocacy and empowerment underpin our philosophy.
## **Enrichment**
- We believe in building bridges to learning, breaking down barriers, and enabling our pupils to access opportunities both within services and the wider community through partnership working.
## **Safeguarding**
- At Wargrave House We take pride in ensuring that we provide a safe, secure, and happy environment, promoting the health, emotional wellbeing and development of all.
## **Ensuring our work delivers our aims**
The charity's aims, objectives, and activities are reviewed each year through the School & College Improvement Plan, incorporating the charity's long term business strategy. This review looks at what was achieved and the outcomes of our work in the previous 12 months and considers targets for the forthcoming year and the medium term. The review also looks at the success of each key target and the benefits they have brought to those children, young people, and their families we are set up to help.
The review also helps us ensure our aims, objectives, and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
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**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES REPORT (CONTINUED) (INCLUDING DIRECTORS REPORT) FOR THE YEAR ENDED 31 AUGUST 2021**
## **ACHIEVEMENTS AND PERFORMANCE**
Wargrave House Ltd has continued to provide high quality education and therapeutic services to children and young adults with an autism diagnosis. Each area of the organisation has demonstrated commitment and proactive approaches to providing support during unprecedented times.
## **How our activities deliver public benefit**
Our main activities and who we try to help are described below. All of our charitable activities focus on the education and care of children and young people with Autism Spectrum Disorder and are undertaken to further our charitable purposes for the public benefit.
## **Who used and benefited from our services**
## **1. Post 16 Education (Lakeside House and LEAP College)**
The curriculums and off site experiential learning activities in Lakeside and LEAP College(s) have been designed to ensure inclusive opportunities for all students across all aspects of their educational offer. Within the three models of inclusivity (medical, social and affirmative) we have worked alongside the medical model by supporting assessment and intervention, we engaged with the social model by having increased experiential opportunities off site and we continue to embed the affirmative model. The affirmative model is the key to our curriculum planning to ensure that all stakeholders from students, staff, parents, carers, governors and LA commissioners are fully engaged with the rationale that is essentially a non-tragic view of disability and impairment which encompasses positive social identities, both individual and collective.
There are 4 curriculum models across the 16 – 25 provision with the following pathways within it to ensure we are promoting increased lifelong opportunities:-
- **a) Mainframe Curriculum** Entry 1 – Level 2 this curriculum is for future growth into employment and independent living opportunities.
- **b) Foundation Curriculum** Entry 1 – Entry 3
- **c) Supported Internship** Curriculum Entry 1 – Level 3
- **d) Access to HE Level 3**
- **e)** To further advance the educational progress of our young people we introduced the **Resilience Curriculum** to support social development and teach vulnerability ensuring a fully holistic student centred provision. This embeds the Preparation for Life Pathways (ILS/H and F/Employability/Community and Relationships).
In Lakeside College we currently have 11 students 2021/22 (4 LA’s). In LEAP College we currently have 16 students 2021/22 (7 LA’s).
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**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES REPORT (CONTINUED) (INCLUDING DIRECTORS REPORT) FOR THE YEAR ENDED 31 AUGUST 2021**
The main achievements for the department from 2020/21 and 2021/22 are:
- Winning the **Natspec Award for Pathways into Employment** , which recognises the work that is being done through our teaching and learning to support employment through supported internships, community volunteering, taking on former students on apprenticeships and supported employment models.
- Winning the **Educate Award for Community Partnership working** , which recognises our efforts in the immediate and wider community to support student engagement whilst negating social injustices and misconceptions about young adults with autism.
- **The Head of Post 16 becoming a member of Kindred LCR** – Kindred LCR is a Community Interest Company (CIC), which reinvests money, space and learning in Liverpool City Region’s socially-trading economy.
- **The increase in student applications and numbers on roll for LEAP** we are currently at 16 students and are awaiting the outcome of a tribunal on 5 May 2022.
- **The Lease of the Lyme and Wood Learning Hub** off site provision: - The Post 16 Provision community model. _We achieve more together than we could alone._ The Lyme and Wood Learning Hub will provide Positive Partnership Working within the local community.
## **2. Wargrave House School**
External quality assurance has remained a key focus for our consistent monitoring of standards. Our Educational Leadership Team (ELT) continued to develop roles and responsibilities of subject areas/curricular leads.
In spite of the COVID-19 restrictions ELT continued to drive quality assurance with a National Autistic Society reaccreditation visit (13/14/15 July). In addition to supporting a Warrington LA Commissioners external monitoring visit (10 June). We also conducted an Independent safeguarding review via St Helens LA Safeguarding Lead Heather Addison (23 June). As well as implementing robust Internal monitoring systems which were underpinned through a cycle of improvement strategies which include student work scrutiny/book looks, learning walks as well as a planned cycle of observations.
A summer school which matched the learning and wellbeing needs of our students was provided over a two week period: Monday 26[th] July – Friday 30[th] July and Monday 2[nd] August-Friday 6[th] August. The project was effectively led with offers having been made for students who were:
- a) Secondary age, including new starters.
- b) Transitioning from Year 6 to Year 7.
- c) Identified as students who would benefit from this enrichment opportunity.
- d) Identified as students who would provide peer group support to enhance relationships/cohesion.
We registered our provision in line with the DfE guidelines and evaluated the project, with feedback from parents indicating that this was a positive experience for the learners who attended.
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**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES REPORT (CONTINUED) (INCLUDING DIRECTORS REPORT) FOR THE YEAR ENDED 31 AUGUST 2021**
## **3. Sundial Therapy Service**
SunDIAL Therapy has expanded to add 5 more interventions within the same financial purse;- Emotional Literacy Support, Adapted Cognitive Behaviour Therapy (CBT), Equine Assisted Occupational Therapy, intervention from Learning Disability Nurse (e.g. sleep/diet) and Dog Therapy. Occupational Therapy, Speech and Language Therapy and contracted Rebound Therapy and Music Therapy continue as core therapy offers. Therapy Bandings 1 – 3 have been introduced to explain the level of therapy each student/learner requires in order to meet needs. Provision maps outline costings and how the therapy provision meets outcomes in EHCPs. This allows the 12 different commissioning Local Authorities to understand and justify specialist provision and any EHCP amendments required at Annual reviews.
77 Children and young people/adults received integrated therapy. We trained our staff to understand and deliver therapy approaches so that they are embedded across the curriculum including adopting a Total Communication approach and sensory regulation strategies. The efficacy of embedded therapy is evaluated by joint learning walks from therapy & education staff.
Therapy has worked with education to ensure each student has an up to date ‘My Profile’ to indicate all important information which is to be shared with all concerned regarding therapy and learning needs.
An OT/SaLT free of charge webinar for taxi personal assistants was developed and added to the Wargrave House website to communicate how strategies should also be employed in transition to school and college.
In spring 2021, 18 staff members received Elklan ASD training, in autumn 2021, 6 more staff members were trained. 11 staff members will have been Elklan ASD trained to Open College Network Level 3 accreditation allowing for school and college staff to apply their learning to support students. Elklan ASD third round has included a commercial outreach offer and 2 outside teaching staff have enrolled.
SunDIAL has 2 additional student referrals as outreach offers from 2 different Local Authorities, providing bespoke intensive therapy packages to facilitate transition into school. Another official training offer in Talking Mats training has been commissioned by a third Local Authority, demonstrating the extent to which the early offer of training is reaching, The SunDIAL website is complete; https://sundialtherapy.co.uk/ Workshops for parents have been developed and delivered on sleep/dietary support. Further parent/carer workshops have been developed and will be on offered for the coming year. Impact is now reaching out to the wider community.
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**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES REPORT (CONTINUED) (INCLUDING DIRECTORS REPORT)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
## **INFRASTRUCTURE SUPPORT AND BUSINESS RESOURCES**
On site developments to the infrastructure, system and process design, admissions, IT security and infrastructure this year include:
## **Admin**
- New digital visitors signing in system
- Update of the phone communication system
- Review of the computer filing system
## **Marketing and Communications**
- Due to development of therapy outreach service:
- New brand/logo created for Sundial Therapy.
- New website created with integrated payment gateway service.
- Autism Therapy conference planned for April 2022.
- Research and record contacts on a database, ongoing research for direct email addresses.
- Refresh and update of Wargrave House School & College website.
- Increased social media activity, engaging with Instagram as well as Facebook/Twitter.
- Promotional material created for use onsite and offsite.
- New Lyme & Wood Learning Hub – communication plan, website update.
- Recurring marketing meetings with Head of Education, Head of College, Head of Therapy to align and plan budget for marketing activities.
## **Fundraising**
- Fundraising protocol implemented for staff use.
- Staff fundraising initiatives, including HR raffles, raised over £200; KT marathon £685.
## **GDPR**
- Next audit completed 2021.
- New GDPR processes implemented including:
- Data protection impact assessments (DPIA) for all new software.
- Data breach register.
- Data freedom of information request register.
- Data mapping report.
## **Human Resources**
Restructuring of support staff contracts to ensure staffing provision continues to meet the ongoing requirements of the organisation.
## **Estates**
Implementation of regular intensive cleaning regime to reduce risk to students and staff of Covid infection. Upgrade of Fire & Intruder Alarm systems across the site.
## **Finance**
Introduction of financial control systems to advocate responsible budgetary practices, reinforcing the ongoing financial sustainability of the organisation.
## **IT**
Implementation of internal processes and controls to further safeguard the organisation against cyber security threats.
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**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES REPORT (CONTINUED) (INCLUDING DIRECTORS REPORT) FOR THE YEAR ENDED 31 AUGUST 2021**
## **Financial review Principal funding sources**
The main source of income is by way of fees from Local Authorities, increases are in line with those approved by the Trustees. School fees and charitable expenditure are in line with expectation.
## **Investment policy and objectives**
Under the Memorandum of Association, the trustees have the power to deposit or invest funds not immediately required for the furtherance of its objects as may be thought fit. During the period the trustees considered the most appropriate policy for investing surplus funds to be that of purchasing ethical investments through the charity fund investment managers CCLA. The charity also owns fixed asset investments that were left to it as a legacy in the form of quoted investments of which approximately 50% are narrow-range investments and 50% a broader range. The trustees consider that the return on investments in the period of £8,816 (2020: £2,965) is satisfactory.
## **Reserves policy**
The trustees have reviewed the charity's need for reserves in line with the guidance issued by the Charity Commission. The trustees believe that, in addition to known commitments, there is a need to hold up to one term's running costs in reserve given the charity's commitments to students and employees. Any excess, unless otherwise approved by the Trustees, is to be used for the benefit of the students.
An analysis of reserves at 31 August 2021 reveals that of total reserves of £2,967,347, £2,864,175 was held as unrestricted fixed assets and £106,755 was held as restricted funds, leaving a deficit balance of £3,583 after taking into account the pension liability of £682,000. Free reserves at 31 August 2021, excluding the pension liability, therefore amounted to £678,417.
## **Remuneration policy**
The Remuneration Committee is an authorised subcommittee of the Board of Trustees established to discuss and agree the performance objectives, appraisal, salary level and other terms and conditions of employment for the Chief Executive. It is also to verify changes in terms and conditions for members of the Senior Leadership Team as recommended by the CEO.
The Committee shall have responsibility for:
- Agreeing the performance objectives for the Chief Executive for the forthcoming year in discussion with the Chief Executive,
- Appraising the performance of the Chief Executive against the agreed performance objectives at the end of the performance year in discussion with the Chief Executive,
- Considering the salary level and other terms and conditions of employment for the Chief Executive for recommendation to the Board of Trustees. The Chief Executive should not be present when these items are considered but shall be advised as to the outcome by the Chairman; and,
- Verifying changes to the terms and conditions of employment for members of the SLT as recommended by the CEO.
The Chief Executive is subject to the general policies and procedures of the Organisation. However, should the performance level of the Chief Executive not be of an acceptable standard the Committee shall advise the main Board of Trustees and shall take specialist professional advice on any actions to be taken in accordance with the policies and procedures of Wargrave House.
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**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES REPORT (CONTINUED) (INCLUDING DIRECTORS REPORT) FOR THE YEAR ENDED 31 AUGUST 2021**
## **TRUSTEES RESPONSIBLITIES STATEMENT**
The trustees (who are also directors of Wargrave House Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report (including the Directors’ Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2019 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Disclosure of information to the auditor**
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company’s auditor is unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
## **AUDITORS**
The auditors, MHA Moore and Smalley, will be proposed for re-appointment at the forthcoming Annual General Meeting.
In preparing the report the trustees have taken advantage of the small companies exemption provided by the Companies Act 2006.
Report of the trustees, incorporating a directors’ report, approved by order of the board of trustees, as the company directors, on ………………………. and signed on the board's behalf by 30/05/2022
………………………………………………………
## **Robin Oliver Bush - Secretary**
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**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WARGRAVE HOUSE LIMITED**
## **Opinion**
We have audited the financial statements of Wargrave House Limited (the ‘charitable company’) for the year ended 31 August 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company’s affairs as at 31 August 2021, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the trustees annual report2, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF WARGRAVE HOUSE LIMITED**
## **Opinions on other matters prescribed by the Companies Act 2006**
- In our opinion, based on the work undertaken in the course of the audit the information given in the trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors’ report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees report and the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit **;** or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemption in preparing the directors’ report from the requirement to prepare a strategic report.
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement set out on page 10, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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## **WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF WARGRAVE HOUSE LIMITED**
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Enquiry of management, those charged with governance around actual and potential litigation and claims.
- Reviewing minutes of meetings of those charged with governance.
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.
Because of the field in which the client operates we identified OFSTED regulation, employment law, safeguarding legislation, health and safety legislation, compliance with the UK Companies Act, and Data Protection Act as the area’s most likely to have a material impact on the financial statements.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-forauditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx.
This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
**Nicola Mason (Senior Statutory Auditor) For and on behalf of**
MHA Moore and Smalley Richard House 9 Winckley Square Preston PR1 3HP
30/05/2022 ……………………
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**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021**
||**Unrestricted**
**Funds**|**Unrestricted**
**Funds**|**Restricted**
**Funds**|**2021**
**Total**
**Funds**|**2020**
**Total**
**Funds**|
|---|---|---|---|---|---|
||Notes|£|£|£|£|
|**INCOME AND ENDOWMENTS FROM**||||||
|Donations and legacies|4|-|-|-|22,614|
|**Charitable Activities**||||||
|Education & Care Services|7|4,759,193|141,519|4,900,712|4,018,663|
|Other Trading Activities|5|17,039|-|17,039|15,068|
|Investments|6|8,816|-|8,816|2,965|
|Other Income|8|14,094|
-|14,094|2,897|
|**Total Income and endowments**||4,799,142|141,519|4,940,661|4,062,207|
|**EXPENDITURE ON**||||||
|**Charitable Activities:**|9|||||
|Education & Care Services||4,325,267|117,374|4,442,641|3,990,374|
|Total expenditure||4,325,267|117,374|4,442,641|3,990,374|
|Net gains / (losses) on investments||55,017|-|55,017|(5,584)|
|**NET INCOME / (EXPENDITURE)**||528,892|24,145|553,037|66,249|
|**Transfers between funds**|27|-|-|-|-|
|**Other recognised gains / (losses)**||||||
|Actuarial gains / (losses) on defined benefit schemes||399,000|-|399,000|(132,000)|
|Net movement in funds||927,892|24,145|952,037|(65,751)|
|**RECONCILIATION OF FUNDS**||||||
|Total funds brought forward||1,932,700|82,610|2,015,310|2,081,061|
|**TOTAL FUNDS CARRIED FORWARD**||2,860,592|106,755|2,967,347|2,015,310|
-14-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **BALANCE SHEET**
## **AS AT 31 AUGUST 2021**
|**FIXED ASSETS**
**Notes**
Tangible assets
17
Investments
18
**CURRENT ASSETS**
Debtors
19
Investments
20
Cash at bank and in hand
**CREDITORS:**Amounts falling due within one year
21
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS:**Amounts falling due after more than one year
23
**NET ASSETS EXCLUDING PENSION LIABILITY**
**DEFINED BENEFIT SCHEME LIABILITY**
28
**NET ASSETS**
**FUNDS OF THE CHARITY**
27
Unrestricted funds
Restricted income funds
**TOTAL CHARITY FUNDS**|**2021**
**£**
2,864,175
18,545
2,882,720
95,133
474,354
880,103
1,449,590
(465,375)
984,215
3,866,935
(217,588)
3,649,347
(682,000)
2,967,347
2,860,592
106,755
2,967,347|**2020**
£
2,934,659
16,993|
|---|---|---|
|||2,951,652
123,722
21,008
494,401|
|||639,131
(214,115)|
|||425,016|
|||3,376,668
(241,358)|
|||3,135,310|
|||(1,120,000)|
|||2,015,310|
|||1,932,700
82,610|
|||2,015,310|
The financial statements were approved by the Board of Trustees and authorised for issue on ……………… 30/05/2022 and were signed on its behalf by:
Steve Whalley - Trustee
The notes form part of these financial statements
-15-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2021**
|**2021**
**Notes**
£
**Cash flows from operating activities**
Cash generated from operations
**1**
892,030
Interest paid
(7,347)
Net cash provided by operating activities
884,683
**Cash flows from investing activities**
Purchase of tangible fixed assets
(85,131)
Purchase of current asset investments
(400,000)
Sale of current asset investments
-
Interest received
48
Dividends received
8,768
Net cash provided by/(used in) investing activities
(476,315)
**Cash flows from financing activities**
Loan repayments in year
(22,666)
Net cash used in financing activities
(22,666)
**Change in cash and cash equivalents in the reporting**
**period**
385,702
**Cash and cash equivalents at the beginning of the**
**reporting period**
494,401
**Cash and cash equivalents at the end of the reporting**
**period**
880,103|**2020**
£
125,966
(7,549)|
|---|---|
||118,417|
||(77,072)
-
300,000
241
2,724|
||225,893
(21,713)|
||(21,713)|
||322,597
171,804|
||494,401|
The notes form part of these financial statements
-16-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE CASH FLOW STATEMENT**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
## **1 Reconciliation of Net Income / (Expenditure) to Net Cash Flow from Operating Activities**
|**Notes**
**Net income / (expenditure) for the reporting period (as per**
**the Statement of Financial Activities)**
Adjustments for:
Depreciation charges
Losses/(gain) on investments
Interest received
Interest paid
Dividends received
Decrease in debtors
(Decrease)/increase in creditors
Difference between pension charge and cash contributions
Net cash provided by operations
**2 Analysis of changes in Net Funds**
**At 31/08/20**
Net Cash
**£**
Cash at bank and in hand
494,401
494,401
Liquid resources
Deposits included in cash
-
Current asset investments
21,008
21,008
Debt
Debts falling due within 1 year
(21,667)
Debts failing due after 1 year
(241,358)
(263,025)
Total
252,384||**2021**
**£**
553,037
155,615
(55,017)
(48)
7,347
(8,768)
28,589
250,158
(38,883)
892,030
**Cash Flow**
**£**
385,702
385,702
-
453,346
453,346
(1,104)
23,770
22,666
861,714||**2020**
**£**
66,249
153,828
5,584
(241)
7,549
(2,724)
11,150
(34,429)
(81,000)|
|---|---|---|---|---|
|||||125,966
**31/08/21**
**£**
880,103|
|||||880,103|
|||||-
474,354|
|||||474,354
(22,771)
(217,588)|
|||||(240,359)|
|||||1,114,098|
The notes form part of these financial statements
-17-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2021**
## **1 STATUTORY INFORMATION**
Wargrave House Limited is a charitable company limited by guarantee incorporated and domiciled in the United Kingdom. The address of its registered office and principal place of business are disclosed on page 1. The charity provides education and care facilities at its premises at Newton le Willows, Merseyside.
## **2 ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 October 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
There are no material uncertainties regarding the charities ability to continue as a going concern.
The financial statements are presented in Sterling (£) and monetary amounts in these financial statements are rounded to the nearest £.
## **Going concern**
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
## **Charitable funds**
Unrestricted funds are available to use at the discretion of the trustees in furtherance of the general objectives of the charity
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Grants made to help finance the activities of the charity are credited to the statement of financial activity in the period to which they relate.
Grants received in advance of a period in which the funder requires the expenditure to be applied will be reflected in deferred income within the balance sheet.
Investment income, donations and legacies are included in the statement of financial activity on receipt.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
-18-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
**FOR THE YEAR ENDED 31 AUGUST 2021**
## **Allocation and apportionment of costs**
Costs are allocated on an actual basis where possible. Senior leadership staff costs are allocated on a time spent % basis between direct costs, support costs and governance.
## **Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
|Freehold property|- 2% on cost|
|---|---|
|Fixtures and fittings|- 25% on cost|
|Motor vehicles|- 25% on reducing balance|
The gain or loss arising on the disposal if an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is recognized in the net income/ (expenditure) of the year.
## **Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset us estimated in order to determine the extent of the impairment loss (if any).
## **Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held with banks, other short term liquid investments with original maturities of three months or less and bank overdrafts.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Employee benefits**
The cost of any unused holiday entitlement is recognized in the period in which the employees services are received.
Termination benefits are recognized immediately as an expense when the charity is demonstrable committed to terminate the employment of an employee or to provide termination benefits.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements On behalf of the Trustee
-19-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
## **2 ACCOUNTING POLICIES - continued**
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those heId under hire purchase contracts are depreciated over their estimated useful lives Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligation is charged to the Statement of Financial Activities (SOFA) over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to the profit and loss account as incurred.
## **Pension costs and other post-retirement benefits**
The charity contributes to the teachers' pension scheme for all teaching staff, at a rate prescribed by the Governments Actuarial Department. The charity maintains a final salary pension scheme for non-teaching staff who joined pre May 2004, this closed to further accrual 31 December 2013.
The charity now operates a Group Personal Pension Plan in-line with the auto enrolment legislation for all nonteaching staff. Contributions paid in the year are charged to the Statement of Financial Activities.
## **Financial instruments**
The Charity has elected to apply the provisions of Section IH 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102, in full, to all of its financial instruments.
Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument, and are offset only when the Charity currently has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
## **Financial assets**
Trade, group and other debtors (including accrued income) which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at the transaction price less any amounts settled and any impairment losses.
A provision for the impairment of trade debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Subsequent reversals of an impairment loss that relate to an event occurring after the impairment loss was recognised, are recognised immediately in SOFA.
## **Financial liabilities**
Trade, group and other creditors (including accruals) payable within one year that do not constitute a financing transaction are measured at the transaction price less any amounts settled.
## **De-recognition of financial assets and liabilities**
A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.
-20-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
## **3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Tangible fixed assets are depreciated over their useful lives.
The present value of the Pension scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost (income) for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 28, will impact the carrying amount of the pension liability. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 1 April 2018 has been used by the actuary in valuing the pension liability at 31 August 2021. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability.
## **4 DONATIONS AND LEGACIES**
|Donations
**5**
**OTHER TRADING ACTIVITIES**
Fundraising Events
**6**
**INVESTMENTS**
Investment income
Deposit account interest|**Unrestricted**
**funds**
**2021**
**£**
-
**Unrestricted**
**funds**
**2021**
**£**
17,039
**Unrestricted**
**funds**
**2021**
**£**
8,768
48
8,816|**Unrestricted**
**funds**
**2020**
**£**
22,614|
|---|---|---|
|||**Unrestricted**
**funds**
**2020**
**£**
15,068|
|||**Unrestricted**
**funds**
**2020**
**£**
2,724
241|
|||2,965|
This and any associated tax credits are included in the accounts when receivable or received.
-21-
**WARGRAVE HOUSE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021**
## **7 INCOME FROM CHARITABLE ACTIVITIES**
|**Activity**
School Fees
Education & Care Services
Grants
Education & Care Services
Grants received, included in the above are as follows:
ESFA School Grants
Pupil premium grant
PE and Sports Premium
Analysis by fund:
Unrestricted income
Restricted income
**OTHER INCOME**
Other income
Analysis by fund:
Unrestricted income
Restricted income|**2021**
**£**
4,759,193
141,519
4,900,712
**2021**
**£**
101,466
23,863
16,190
141,519
4,759,193
141,519
4,900,712
**2021**
**£**
14,094
14,094
-|**2020**
**£**
3,888,682
129,981
4,018,663
**2020**
**£**
89,088
24,703
16,190|
|---|---|---|
|||129,981|
|||3,888,427
130,236|
|||4,018,663|
|||**2020**
**£**
2,897
-
2,897|
## **8 OTHER INCOME**
-22-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
|**9**|**CHARITABLE ACTIVITIES**|**COSTS**|||
|---|---|---|---|---|
|||**Direct Costs**|**Support Costs**
**(see note 10)**|**Totals**|
|||**2021**|**2021**|**2021**|
|||**£**|**£**|**£**|
||Education & Care Services|2,944,585|1,498,056|4,442,641|
|**Analysis by fund**|||||
|Unrestricted fund – general||2,829,242|1,496,025||
|Restricted funds||115,343|2,031||
|||2,944,585|1,498,056||
|||**Direct Costs**|**Support Costs**
**(see note 10)**|**Totals**|
|||**2020**|**2020**|**2020**|
|||**£**|**£**|**£**|
||Education & Care Services|2,658,162|1,332,212|3,990,374|
|**Analysis by fund**|||||
|Unrestricted fund – general||2,551,367|1,332,212||
|Restricted funds||106,795|_______-||
|||2,658,162|1,332,212||
-23-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
## **10 SUPPORT COSTS**
|**Management**
**2021**
**£**
Education & Care Services
348,094
**Human**
**Resources**
**2021**
**£**
Education & Care Services
115,605
**SUPPORT COSTS**
**Management**
**2020**
**£**
Education & Care Services
223,481
**Human**
**Resources**
**2020**
**£**
Education & Care Services
148,392
Governance costs are made up of the following:
External auditor’s fee
Other Governance related costs|**Finance**
**2021**
**£**
272,279
**Governance**
**Costs**
**2021**
**£**
198,795
**Finance**
**2020**
**£**
240,717
**Governance**
**Costs**
**2020**
**£**
158,833
**2021**
**£**
15,400
183,395
198,795|**Information**
**Technology**
**2021**
**£**
563,283
**Totals**
**2021**
**£**
1,498,056
**Information**
**Technology**
**2020**
**£**
560,789
**Totals**
**2020**
**£**
1,332,212
**2020**
**£**
8,500
92,253|
|---|---|---|
|||100,753|
-24-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
|**11**
**NET INCOME / (EXPENDITURE)**
Net income / (expenditure) is stated after charging / (crediting):
Depreciation – owned assets
**12**
**AUDITORS RENUMERATION**
The analysis of auditor’s remuneration is as follows:
Fees payable to the charity for the audit of the charity’s annual
accounts
**Non-audit services**
Accountancy fees
EYOC audit fees
Pension Scheme audit|**2021**
**2020**
**£**
**£**
155,615
153,827
**2021**
**2020**
**£**
**£**
8,400
6,700
2,400
1,800
1,600
1,560
3,000
1,608|
|---|---|
## **13 TRUSTEES’ REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
## **Trustees’ expenses**
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
During the year no Trustees received expenses relating to mileage and travel costs.
-25-
**WARGRAVE HOUSE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
## **14 STAFF COSTS**
|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries
Social security costs
Other pension costs
average monthly number of employees during the year was as follows:
Direct charitable|**2021**
**£**
2,862,782
229,773
364,792
3,457,347
**2021**
**£**
112|**2020**
**£**
2,733,473
222,682
273,954|
|||3,230,109|
|||**2020**
**£**
103|
The average monthly number of employees during the year was as follows:
The number of employees whose employee benefits (excluding employer pension costs and employers national insurance) exceeded £60,000 was:
|rance) exceeded £60,000 was:|||
|---|---|---|
|£60,001 - £70,000
£70,001 - £80,000
£90,001 - £100,000
£100,001 - £110,000|**2021**
**£**
-
1
-
1
2|**2020**
**£**
1
1
-
1|
|||3|
The key management personnel of the charity comprise of the senior leadership team as detailed on page 3. The total remuneration of key management personnel during the year (including employer pension costs and employer national insurance costs) was £470,914 (2020 £386,589).
-26-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
|**15**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**£**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
22,614
-
**Charitable activities**
Education & Care Services
3,888,427
130,236
Other trading activities
15,068
-
Investments
2,965
-
Other income
-
2,897
**Total income and endowments**
3,929,074
133,133
**EXPENDITURE ON**
**Charitable activities:**
Education & Care Services
3,883,579
106,795
**Total expenditure**
3,883,579
106,795
Net losses on investments
(5,584)
-
**NET INCOME/ (EXPENDITURE)**
39,911
26,338
Transfers between funds
23,118
(23,118)
**Other recognised gains / (losses)**
Actuarial gains/ (losses) on defined benefit schemes
(132,000)
-
**Net movement in funds**
(68,971)
3,220
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
2,001,671
79,390
**TOTAL FUNDS CARRIED FORWARD**
1,932,700
82,610|**Total Funds**
**£**
22,614
4,018,663
15,068
2,965
2,897|
|---|---|
||4,062,207
3,990,374|
||3,990,374
(5,584)|
||66,249
(132,000)|
||(65,751)
2,081,061|
||2,015,310|
## **16 EXPENDITURE AND LIABILITES**
General liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to expenditure. Expenditure has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources
-27-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
## **17 TANGIBLE FIXED ASSETS**
|**COST**
At 1 September 2020
Additions
Disposals
At 31 August 2021
**DEPRECIATION**
At 1 September 2020
Charge for year
Disposals
At 31 August 2021
**NET BOOK VALUE**
At 31 August 2021
At 31 August 2020|**Freehold**
**Property**
3,859,687
-
-
3,859,687
1,078,741
68,979
-
1,147,720
2,711,967
2,780,946|**Fixtures and**
**Fittings**
**£**
605,327
48,614
-
653,941
463,236
74,679
-
537,915
116,026
142,091|**Motor**
**Vehicles**
**£**
123,795
36,518
(41,400)
118,913
112,173
11,957
(41,400)
82,730
36,183
11,622|**Totals**
**£**
4,588,809
85,132
(41,400)|
|---|---|---|---|---|
|||||4,632,541|
|||||1,654,150
155,615
(41,400)|
|||||1,768,364|
|||||2,864,175|
|||||2,934,659|
Included in cost or valuation of land and buildings is freehold land of £410,762 (2020- £410,762) which is not depreciated.
The bank loan is secured by a first legal charge over the commercial freehold property registered under title number MS5588 I 0.
## **18 FIXED ASSET INVESTMENTS**
|**FIXED ASSET INVESTMENTS**||||
|---|---|---|---|
|**MARKET VALUE**
At 1 September 2020
Revaluations
At 31 August 2021
**NET BOOK VALUE**
At 31 August 2021
At 31 August 2020|**Shares in**
**Group**
**Undertakings**
**£**
1
-
1
1
1|**Listed**
**Investments**
**£**
16,992
1,553
18,545
18,545
16,992|**Totals**
**£**
16,993
1,553|
||||18,555
18,545|
||||16,993|
The charity’s investments at the balance sheet date in the share capital of companies include the following
-28-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
## **18 FIXED ASSET INVESTMENTS - Continued**
**Wargrave House School Pension Scheme Limited** Registered office: United Kingdom Nature of business: Pension Scheme Trustee Co
|**Class of Share:**|**% Holding**|**2021**||**2020**||
|---|---|---|---|---|---|
||||**£**||**£**|
|Ordinary|100|||||
|Aggregate Capital and reserves|||1||1|
The company was set up to become the Trustee of the Group Personal Pension Plan (GPPP) on closure of the Wargrave House Defined benefit scheme to further accrual. This was done to allow its members to become directors of the Trustee Co and thus have a say in the administration of the GPPP. To this date no members have taken up position as director. The company does not trade and holds no assets.
Investments are stated at market value at the balance sheet date.
|**19**
**DEBTORS AMOUNTS FALLING DUE WITHIN ONE YEAR**
School fees
Prepayments
**20**
**CURRENT ASSET INVESTMENTS**
Listed investments
**21**
**CREDITORS AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans (see note 24)
Trade creditors
Social security and other taxes
Sundry creditors
Deferred income
Accrued expenses|**2021**
**£**
38,058
57,075
95,133
**2021**
**£**
474,354
**2021**
**£**
22,771
99,579
60,748
65,298
132,835
84,144
465,375|**2020**
**£**
76,886
46,836|
|---|---|---|
|||123,722|
|||**2020**
**£**
21,008|
|||**2020**
**£**
21,667
56,313
58,617
2,406
5,666
69,446|
|||214,115|
-29-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
|**FOR THE YEAR ENDED 31 AUGUST 2021**||
|---|---|
|**22**
**DEFERRED INCOME**
**2021**
**£**
Other deferred income
132,835
Deferred income is included in the financial statements as follows:
**2021**
**£**
Current liabilities
132,835
**2021**
**£**
Total deferred income at 1 September 2020
5,666
Amounts received in the year
132,835
Amounts credited to the statement of financial activities
(5,666)
Total deferred income at 31 August 2021
132,835
**23**
**CREDITORS AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
**2021**
**£**
Bank Loans (see note 24)
217,588
**24**
**LOANS**
**An analysis of the maturity of loans is given below**
**2021**
**£**
Amounts falling due within one year on demand:
Bank loans
22,771
Amounts falling between one and two years:
Bank loans - 1-2 years
23,002
Amounts falling due between two and five years:
Bank loans - 2-5 years
69,006
Amounts falling due in more than five years
Repayable by instalments:
Bank loans more than 5 yr by instalments
125,580
**25**
**SECURED DEBT**
**The following secured debts are included within creditors**
**2021**
**£**
Bank Loans
240,254|**2020**
**£**
5,666
**2020**
**£**
5,666
**2020**
**£**
-
5,666
-|
||5,666|
||**2020**
**£**
241,358|
||**2020**
**£**
21,667|
||22,922|
||69,655|
||148,781|
||**2020**
**£**
263,025|
The bank loan is secured by a first legal charge over the commercial freehold property registered under title number MS558810.
-30-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
## **26 ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Fixed assets
Investments
Current assets
Current liabilities
Long term liabilities
Pension liability|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2021**
**Total**
**Funds**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2020 Total**
**Funds**
**£**
**£**
**£**
**£**
**£**
**£**
2,864,175
-
2,864,175
2,931,967
2,692
2,934,659
18,545
-
18,545
16,993
-
16,993
1,342,835
106,755
1,449,590
553,547
85,584
639,131
(465,375)
-
(465,375)
(208,449)
(5,666)
(214,115)
(217,588)
-
(217,588)
(241,358)
-
(241,358)
(682,000)
-
(682,000)
(1,120,000)
-
{1,120,000)|
|---|---|
||2,860,592
106,755
2,967,347
1,932,700
82,610
2,015,310|
## **27 MOVEMENT IN FUNDS**
|**Unrestricted Funds**
General Fund
**Restricted Funds**
ESFA Devolved
Formula Grant
Variety Club Sunshine
Bus
ESFA PE and Sports
Premium
Pupil Premium
Teachers’ Pay Grant
Teachers’ Pension
Grant
ESFA 16-19
Discretionary Bursary
School Condition
Allocation
Leap IT
Staff event
TOTAL FUNDS|**At 1**
**September**
**2020**
**£**
1,932,700
6,160
2,031
23,934
36,605
9,199
3,984
697
82,610
2,015,310|**Income**
**(inc**
**gains &**
**losses)**
**£**
5,253,159
11,189
-
16,190
23,863
9,449
46,692
-
34,136
141,519
5,394,678|**Expenditure**
**£**
(4,325,267)
-
(2,031)
(32,408)
(26,794)
(9,449)
(46,692)
-
-
(117,374)
(4,442,641)|**Transfers**
**between**
**funds**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-|**At 31 August**
**2021**
**£**
2,860,592
17,349
-
7,716
33,674
-
-
9,199
34,136
3,984
697|
|---|---|---|---|---|---|
||||||106,755|
||||||2,967,347|
-31-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
## **MOVEMENT IN FUNDS (COMPARATIVE)**
|**Unrestricted Funds**
General Fund
**Restricted Funds**
ESFA Devolved
Formula Grant
Variety Club Sunshine
Bus
ESFA PE and Sports
Premium
ESFA School Condition
Allocations
Pupil Premium
ESFA 16-19
Discretionary Bursary
Leap IT
Staff event
Sunken Trampoline
Teachers Pay Grant
Teachers Pension Grant
TOTAL FUNDS|**At 1**
**September**
**2019**
**£**
2,001,671
-
9,205
12,767
-
23,316
6,303
4,645
697
22,457
-
-
79,390
2,081,061|**Income**
**£**
3,929,074
6,160
1
16,190
24,402
24,703
2,896
-
-
-
10,150
48,631
133,133
4,062,207|**Expenditure**
**£**
(4,021,163)
-
(7,175)
(5,023)
(24,402)
(11,414)
-
-
-
-
(10,150)
(48,631)
(106,795)
(4,127,958)|**Transfers**
**between**
**funds**
**£**
23,118
-
-
-
-
-
-
(661)
-
(22,457)
-
-
(23,118)
-|**At 31 August**
**2020**
**£**
1,932,700
6,160
2,031
23,934
-
36,605
9,199
3,984
697
-
-
-|
|---|---|---|---|---|---|
||||||82,610|
||||||2,015,310|
Parental contributions are for specific activities.
**The Devolved Formula Capital Grant** is to be used to support the needs of the schools Asset Management Plan, and may be accumulated over a period of three years to use towards larger projects.
**The Variety Club Sunshine Bus** is restricted in its use and cannot be sold or part exchanged without the prior consent of the Variety Club. On the completion of useful life the Bus must be returned to the Variety Club. Further restrictions apply and can be found in the terms of agreement.
**ESFA School Condition Allocations and Devolved Capital Grants** are for the maintenance of the schools assets and can be used on a variety of projects.
**The ESFA Discretionary Bursary fund** supports the most financially disadvantaged 16 to 19 year-olds and those young people who most need help with the costs of staying in education. Educational institutions are allocated funding from which they can make discretionary awards. Discretionary awards are for any students who are facing genuine financial barriers to participating. Individual institutions determine eligibility criteria and the frequency and conditions of payments. Any underspends from 2019/20 can be rolled forward into 2020/21 and used alongside the 2020/21 discretionary allocation to help address the needs of disadvantaged learners
**LEAP IT** - this fund was established to expand and replace IT provision within LEAP College.
-32-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
**FOR THE YEAR ENDED 31 AUGUST 2021**
**The Pupil Premium** gives schools extra funding to raise the attainment of disadvantaged pupils from reception to year 1. 16 pupils qualified for the funding in 2020/21. Details of how the funds are used are published annually on the school's website.
**ESFA PE and Sports Premium grant** is to expand the range of provision of the PE and sport activities schools offer their pupils. All restrictions have been met in the year.
The **Staff Event fund** was established via a £1,000 donation from the parents of a student who wished to express their thanks for the quality of care provided to their child by the school's staff. The fund is to be used towards the cost of social events for all of the school's staff.
## **Sunken Trampoline fund**
The fund had been established to improve the in-house facilities for rebound therapy, in the form of installing a sunken trampoline in the gym. Included within this fund are donations of£ 15,000 from the Masonic Charitable Trust, £3,500 from The Dullater Trust, £2,500 from POL Scaffolding and other individual donations of less than £500 which were specifically donated for this fund. The sunken trampoline was fully purchased and fitted during the financial year 2019/20, therefore this restriction has been met.
## **28 EMPLOYEE BENEFIT OBLIGATIONS**
## **DEFINED CONTRIBUTION SCHEME**
## **Teaching Staff**
The charity contributes to The Teachers' Pension Scheme (England and Wales), which provides benefits based on final pensionable salary. The charity is unable to identify its share of the underlying assets and liabilities in the scheme. Employer's contributions are paid within the scheme guidelines of 14.1% (2015- 14.1%) of pensionable salary.
## **Non-teaching Staff**
The charity operates a Group Personal Pension Plan (GPPP) for all members of non-teaching staff in line with auto-enrolment legislation. This is at a rate of 6% employee and 8% employer
## **DEFINED BENEFIT SCHEME**
The April 2012 actuarial valuation highlighted a requirement to significantly increase the funding rate to in excess of 40% of the salary roll to maintain the current level of benefits. This was despite the good investment the scheme had experienced and was due largely to the fact that people were living longer, and therefore receiving benefits for longer. In addition, gilt yields were at their lowest point for many, many years, and this was the factor that regulated annuity rates, in other words, the cost of providing the final salary benefits was escalating to levels that could not be justified.
After much discussion, the directors agreed that the scheme would be shut to future accrual ( as at 31 December 2013), this meant simply that members of the scheme would not earn any more entitlement to benefits after the scheme closed to future accrual. However, any benefits earned to date would be protected and would also be revalued going forward to help protect the value against inflation.
The pension cost is determined on the advice of independent qualified actuaries. The pension cost for the year is based on the results of the actuarial valuation of the scheme as at 1 April 2018.
The actuary has provided calculations on the scheme as at 31 August 2021, they have prepared the calculations in accordance with the Financial Reporting Council's actuarial standard TAS 100. The amounts recognised in the balance sheet are as follows
-33-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
|**FOR THE YEAR ENDED 31 AUGUST 2021**|||
|---|---|---|
||**2021**|**2020**|
||**£**|**£**|
|Present value of defined benefit obligations|(5,201,000)|(5,161,000)|
|Fair value of plan assets|4,519,000|4,041,000|
||(682,000)|(1,120,000)|
|The amounts recognised in the Statement of Financial Activities are as follows|||
||**2021**|**2020**|
||**£**|**£**|
|Current service cost|-|-|
|Net interest from net defined benefit|-|-|
|asset/liability|21,000|19,000|
|Past service cost|-|-|
||21,000|19,000|
|Changes in the present value of the defined benefit obligation are as follows:|||
||**Defined Benefit**||
||**Pension Plans**||
||**2021**|**2020**|
||**£**|**£**|
|Opening defined benefit obligation|5,161,000|5,249,000|
|Past service cost||-|
|Interest cost|97,000|100,000|
|Benefits paid|(118,000)|(92,000)|
|Remeasurements:|||
|Actuarial (gains)/losses from changes in|||
|financial assumptions|234,000|(51,000)|
|Oblig other remeasurement|(173,000)|(45,000)|
||5,201,000|5,161,000|
|Changes in the fair value of scheme assets are as follows:|||
||**Defined Benefit**||
||**Pension Plans**||
||**2021**|**2020**|
||**£**|**£**|
|Opening fair value of scheme assets|4,041,000|4,180,000|
|Contributions by employer|60,000|100,000|
|Expected return|76,000|81,000|
|Actuarial gains/(losses)|460,000|(228,000)|
|Benefits paid|(118,000)|(92,000)|
||4,519,000|4,041,000|
|Actual return on plan assets|536,000|(147,000)|
-34-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
## **28 EMPLOYEE BENEFIT OBLIGATIONS Continued**
The amounts recognised in other recognised gains and losses are as follows
|Actuarial (gains) / Losses from changes in financial assumptions
Re-measurements arising from experience
(Losses) / gains on plan assets, excluding amounts included in net interest
on the recognised defined benefit (liability) / asset|**Defined Benefit**
**Pension Plans**
**2021**
**2020**
**£**
**£**
(234,000)
51,000
173,000
45,000
460,000
(228,000)
399,000
(132,000)|**Defined Benefit**
**Pension Plans**
**2021**
**2020**
**£**
**£**
(234,000)
51,000
173,000
45,000
460,000
(228,000)
399,000
(132,000)|
|---|---|---|
|||(132,000)|
The major categories of scheme assets as a percentage of total scheme assets are as follows:
|Equities
Bonds
Gilts
Cash
Property|**Defined Benefit**
**Pension Plans**
**2021**
**2020**
49%
44%
15%
16%
25%
28%
1%
3%
10%
9%
100%
100%|**Defined Benefit**
**Pension Plans**
**2021**
**2020**
49%
44%
15%
16%
25%
28%
1%
3%
10%
9%
100%
100%|
|---|---|---|
|||100%|
Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages):
||**Defined Benefit**|**Defined Benefit**|
|---|---|---|
||**Pension Plans**||
||**2021**|**2020**|
|Discount rate|1.80%|1.90%|
|Increase in deferment|2.60%|2.40%|
|Increase in payment|3.00%|3.00%|
|Retail price inflation|3.30%|3.20%|
|Consumer price inflation|2.60%|2.40%|
-35-
**WARGRAVE HOUSE LIMITED COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
**29 RELATED PARTY DISCLOSURES** Wargrave House School Pension Scheme Limited a subsidiary of the charitable company is Trustee to the Wargrave House Pension Scheme. During the year the charitable company paid £60,000 (2020: £100,000) into the pension scheme in line with the deficit funding requirements
## **Renumeration of key management personnel**
The remuneration of key management personnel is as follows:
|**Renumeration of key management personnel**
The remuneration of key management personnel is as follows:|||
|---|---|---|
|Aggregated compensation|**2021**
**£**
470,914|**2020**
**£**|
|||386,589|
There are no other related party transactions.
No guarantees have been given or received.
**30 COMPANY LIMITED BY GUARANTEE** Wargrave House Limited is incorporated under the Companies Act as a company limited by guarantee. The liability of the members is limited to £1.
-36-