**Charity Registration No. 1105085** 

**Company Registration No. 05063879 (England and Wales)** 

**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE)** 

## **GOVERNORS' REPORT AND CONSOLIDATED ACCOUNTS** 

**FOR THE YEAR ENDED 31 MARCH 2022** 



**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) CONTENTS** 

||**Page**|
|---|---|
|Governors' report (incorporating the Strategic Report)|1 - 13|
|Statement of Governors' responsibilities|14|
|Independent auditors' report|15-18|
|Consolidated statement of financial activities|19|
|Summary income and expenditure account|20|
|Consolidated balance sheet|21|
|School balance sheet|22|
|Cash flow statement|23|
|Notes to the accounts|24-37|





**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2022** 

## **INTRODUCTION** 

The School was affected by Covid for the majority of the year but nevertheless continued to function well with the on-line learning programs proving to be very effective. 

We have undergone an Ofsted inspections for Social Care during the year which was rated as Outstanding. 

The demand for places continued at a very high rate. With just over 100 boys currently in the School our finances are now in a position that we can undertake significant developments as well as undertaking a number of major maintenance projects. 

All the objectives contained in a very detailed School Improvement Plan were achieved, in particular the opening in September of a new custom designed Therapy Centre, which has already enabled us to improve the quality, and scope of therapy and better meet the specific needs of each and every child. This facility has been offered to mainstream schools in the area and has met with an enthusiastic response. 

The space occupied by Therapy has been refitted as a Food Technology Centre, which will open in June 2022. 

This will enable us to teach boys how to cook healthy meals thereby increasing their chances of leading an independent life when they finally leave us. 

The demand for places in the Key-stage 1 classroom has been high and it is already full so we are currently building a second class-room that will be ready in September 2022. As the boys currently in KS1 progress through the School they will constitute a very high proportion of the numbers in each year group. This could mean fewer places for later entrants and the Governors are currently working with the Principal to establish the optimum size for the School without compromising the “part of the Family” atmosphere which enables our boys to feel safe, cared for and happy. 

In line with current thinking considerable efforts have been made in developing “well-being”, for our staff as well as the boys. 

Once again the School received a grant from the Belmer-Rush Foundation and we would like to thank the Trustees. This year the money was used to resurface the basketball court for our older boys. 


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**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2022** 

## **WELCOME FROM THE PRINCIPAL** 

This school year has been affected by Covid however, through careful planning and organising the school, we have kept everyone safe and have minimised the number of confirmed Covid cases for both pupils and staff.  I am proud of the fact that the school has managed to keep all staff in full time employment and no staff have been made redundant. 

We have used the quieter time during and post lockdown to continue to grow and develop the school.  Adding a new Food Technology centre, providing able space for groups to cook individually.  This new centre  will help develop pupils basic life skills of cooking improving their independence.  It will also inspire and encourage future employment  opportunities for our pupils.  The cost of this project was helped with two grants from the Wooden Spoon Charity and Tesco Community Grants. 

A new Therapy Centre was opened in October providing more rooms to cater for the increased need in both therapy and counselling for our pupils.  This building was carefully designed and maximises the space providing seven Therapy rooms alongside available and fits into the school grounds and environment.  The cost of this project was helped with a grant of £200,000 from the Constable Education Trust and a VAT exemption certificate.  An Outreach project will be offered to four local secondary schools starting in September. 

Following the success of the new primary classroom, we have started work on a new classroom to meet the increasing demand for younger aged pupils.  I mentioned this in last year’s report as this is a growing area of need across the region ad country.  Being able to intervene early providing expert help and support pupils is exactly what is needed to make a difference and change the lives of these pupils ad their families.  Taking pupils on roll earlier, potentially from year 1 means more complex pupils could be at the school for a possible further 13 years providing greater financial security going forwards. 



One positive impact of Covid was that all year 11 pupils were funded to continue their education into our post 16 provision.  This has doubled the number of post 16 aged pupils that we have ever had at the school. Currently the number of post 16 pupils is at 21 with forecasts expecting this figure to rise over the next three years.  We have therefore started to reconfigure current post 16 space to increase their classroom and learning space. 

The school has achieved the Food 4 Life Gold award which I mentioned we were working towards last year. This in recognition for our farm provision and ability to grow our own food and helping the pupils to make healthy food choices. 

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**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2022** 

The school was also awarded the Quality in Careers Award in recognition for the excellent careers work and how well we prepare our pupils for adulthood.  This award is the single most national quality award for careers advice and guidance.  The DFE Department for Education recommends strongly for all school to achieve this award. It is also important for parents as it ensures that the school is serious about careers. 

The Wellbeing Award is also something which the school has achieved, this is in recognition for the way in which we look after our staff team, pupils and parents.  Detailed surveys were completed by each of these groups and a comprehensive level of evidence was presented.  These nationally recognised kite marks are good for the school’s reputation and have been displayed on our website.  Having recognised strengths and expertise in certain areas demonstrates our success as a leading national specialist school.  The school is now working towards national accreditation with the National Autism Accreditation Society.  As the number of pupils now attending the school with autism has increased, it is important strategically that we are recognised officially as experts in autistic practice. 

The school buildings and grounds a have never looked better than they do currently.  The environment is everything for our pupils and it is important that we maintained the current high standards going forwards. The school continues to be oversubscribed in new pupil referrals and hence we have now officially requested an increase in pupil numbers from 90 to 110 with the DFE. 

The School was inspected by Ofsted in February and achieved our third consecutive Outstanding for the social care inspection.  This achievement and recognition from Ofsted, only continues to improve the reputation of the school both regionally and nationally. 


Harry Anderson, Principal 

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**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2022** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **GOVERNORS, OFFICERS AND ADVISERS** 

John Knightley (Chairman) + Bartholomew Callaghan + Jonathan Copeland + Ian Davies + Daniel Farnfield + Stephen Fisher + 

* Martin Fuller + 

* Vickram Gopaul (until May 2021) 

Peter Higgins + 

* Laura Hofton (from October 2021) + 

Vernon Jennings (until February 2022) + Barry Jones + Harvey Jones (from May 2022) + Michael Kipling + Tracey Kirk + 

* Angela Luff (Staff Governor) + Kate Naish + Donna Petford-Naish (until April 2022) + 

* Michelle Wright (Staff Governor) + 

- Conforming to best practice as recommended by DfES (para 7. Circular 14.99 refers) 

- + Registered Director of Muntham House School at year end 

For management and administrative purposes the Trustees are constituted as a Body of Governors who conduct and manage the school in accordance with the provisions of the Memorandum and Articles of Association. 

The following are the members of sub-committees    * denotes Chairman of each sub committee 

## **Education** 

* Tracey Kirk Barry Jones Ian Davies Daniel Farnfield Laura Hofton Peter Higgins Anton van der Watt (co-opted as Head of Education) 

## **Estate/Buildings** 

* Jonathan Copeland Martin Fuller Harvey Jones John Knightley Angela Luff Gavin Pusey (co-opted as Estates Manager) Dave Harris (co-opted as IT Manager) Lorraine Wright (co-opted as Housekeeper) Daniel Jones (co-opted as School Finance Manager) 

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**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2022** 

## **Finance** 

* Michael Kipling Jonathan Copeland Harvey Jones Daniel Jones (co-opted as School Finance Manager) 

## **Personnel** 

* John Knightley 

Barry Jones Steve Fischer Jonathan Copeland 

## **Care & Welfare** 

* Steve Fisher 

Bartholomew Callaghan Martin Fuller Angela Luff Kate Naish Michelle Wright Laurence Clayton (co-opted as Head of Care) Sandy Williams (co-opted as Domestic Bursar) Lorraine Wright (co-opted as Housekeeper) 

Health & Safety features as an agenda item on each sub committee Safeguarding features as an agenda item on each sub committee 

## **OFFICERS** 

The School Principal, Harry Anderson, is an ex officio member of all sub committees. 

Principal Harry Anderson Head of Finance / Company Secretary Daniel Jones 

Other members of the Senior Management Team 

Head of Education Anton van der Watt Head of Care Laurence Clayton 

## **ADVISERS** 

Auditors TC Group, The Courtyard, Shoreham Road, Upper Beeding, Steyning, West Sussex, BN44 3TN Bankers Lloyds TSB Bank, 37 High Street, Billingshurst, West Sussex, RH14 9PS Solicitors Charles Russell LLP, Buryfields House, Buryfields, Guildford, Surrey, GU2 4AZ 

Insurance Brokers Hettle Andrews & Associates Limited, 11 Brindley Place,       2 Brunswick Square, Birmingham, B1 2LP 

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**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2022** 

The Muntham House School Governors and Directors present their annual report (including the Strategic Report) for the year ended 31 March 2022 together with the consolidated accounts for the charity. 

The accounts comply with the requirements of the Companies Act 2006, the Charities Act 2011, the Memorandum and Articles of Association and 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 January 2015). 

## **REFERENCE AND ADMINISTRATIVE INFORMATION** 

Charity Number 1105085 Company Number 05063879 DCSF Number 938/7003 OFSTED Number 126154 Registered Address Barns Green, Horsham, West Sussex, RH13 0NJ Status of School Residential non-maintained special school complying with the requirements of the Department of Education under the Education Act 1981. 

Governors and Executive Officers are as listed on pages 4-5. Particulars of the Charity’s Professional Advisers are given on page 5. 

The school holds approval as a non-maintained special school within the meaning of the relevant Education Acts including recent 2008 regulations. 

The school is registered to accommodate some 90 children ranging from key stage two to key stage four.  The school has a separate Post 16 unit which can accommodate 12 boarders and also has provision for day students.  The school has a wide range of educational and recreational facilities, and provides a high staff to pupil ratio. 

Children are referred to the school by a number of local authorities listed by the size of the cohort from each authority:- 

West Sussex County Council Surrey County Council Essex County Council Wokingham Borough Council Ealing London Borough Council The London Borough of Havering Hampshire County Council The Royal Borough of Kingston upon Thames The London Borough of Enfield The London Borough of Greenwich 

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**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2022** 

## **GOVERNING DOCUMENTS** 

Muntham House School was founded in 1953 by the then Ministry of Education and National Foundation for Educational Research and is registered as a charity under number 306352.  The school was incorporated in 2004. The School is now governed by its Memorandum and Articles of Association dated 4 March 2004. 

## **GOVERNING BODY** 

Details of the Governing Body and its constituent sub-committees are shown on pages 4 & 5. 

## **RECRUITMENT AND TRAINING OF GOVERNORS** 

The Charity’s elected Governors are appointed at a meeting of the Board on the basis of: eligibility, personal competence, specialist skills and local availability. There is one Teaching Staff Governor representative and one Non-teaching Staff Governor representative, both elected by fellow staff members.  One Governor representing Parents/Carers of boys at the School is also an elected member of the Board. New Governors are inducted into the workings of the Charity, including Board Policy and Procedures by a mentoring process supervised by the Chairman. Strategic planning sessions are held on a regular basis, and Trustee Training delivered by local Education Authority Governor Groups and specialist Legal and Financial organisations is available to all Governors. 

## **POLICY FOR SETTING PAY FOR SENIOR MANAGEMENT TEAM** 

Muntham House School has non-maintained status and as such follows the protocols on pay which are agreed for mainstream special schools. In this they implement the nationally agreed pay and conditions policies annually updated by the DfE. With regard to ancillary workers the school follows the pay guidelines from the National Joint Council. Its application to senior managers is the same therefore as mainstream practice and is negotiated through national performance management processes and professional responsibility grades within the agreed national pay policy frameworks. 

## **ORGANISATIONAL MANAGEMENT** 

Muntham House School Governors, as the trustees of the Charity, are legally responsible for the overall management and control of the School and meet at least six times a year **.** The work of implementing most of their policies is carried out by members of the various sub-committees who normally meet prior to each meeting of the full Board.  In addition the Finance sub-committee have two extended meetings in which budgets are approved, and audited accounts and annual report finalised prior to recommendation to, and approval by, the full Board. 

The day to day running of the School is delegated to the Principal supported by a Senior Management Team and the Business Manager. The Principal or a member of the Senior Management Team attends meetings of all committees. 

## **GROUP STRUCTURE AND RELATIONSHIPS** 

The Charity is the trustee of Muntham House School Trust a subsidiary charity (No: 1105085 -1) and, as such, holds the title to land and buildings valued at £1.65 million as an endowment fund. All of the other assets of Muntham House School Trust were transferred to Muntham House School on 1 April 2004. The Charity had a wholly owned non-charitable subsidiary, Muntham House Enterprises Limited.  This company has been inactive since 2018 and is now closed. 

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**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2022** 

Muntham House School actively supports the attainment of the highest standards in the Non Maintained Special Schools sector, partly through networking with other special schools and partly through peer group studies for the evaluation of quality and improvement methods.  We also interact with many local organisations and mainstream schools in our ongoing endeavours to widen public access to the expertise that we can provide in the field of Behaviour Management. 

## **RISK MANAGEMENT – INCLUDING PRINCIPLE RISKS AND UNCERTAINTIES** 

The Board of Governors is responsible for the management of the risks faced by the School.  Detailed considerations of risk are considered by all Governors assisted by the Principal and Senior Management Team of the School.  Risks are identified, assessed and controls established throughout 

the year with a formal review of the Charity’s risk management processes undertaken on an annual basis. 

Key controls used include: 

- Formal agendas for all Committee and Board activity 

- Detailed terms of reference for all Committees 

- Comprehensive strategic planning, budgeting and management accounting 

- Established organisational structure and lines of accounting 

- Formal written policies 

- Clear authorisation and approval levels 

- Vetting procedures as required by law for the protection of the vulnerable. 

Governors are satisfied that the major risks identified through the risk management processes have been adequately managed where necessary, whilst recognising that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. 

The Governors consider the principal risks and uncertainties facing the school.  In 2021-22 a change in approach was adopted with the introduction of a risk matrix, owned by the Finance Committee of the Board. 

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**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2022** 

Following careful consideration, the key risks were identified as: 


For each a risk mitigation plan is in place and the matrix reviewed twice per year. 

The biggest single risk currently is the inflationary environment.  Both the Teachers Pay scales and National Joint Councils scales for the new financial year are under negotiation and headline inflation is significant.  The school is doing all it can to reduce fee increases to local authorities, but below inflation increases are necessary and are currently being negotiated with authorities. 

A Green paper on SEND policy has been published by the Department for Education.  The school is contributing to consultation input through the various NGO bodies we belong to. 

## **Whistle blowing policy** 

This policy outlines the school’s commitment to tackling fraud and other forms of malpractice and treats this issue seriously.  The school recognises that some concerns may be sensitive and has therefore developed a system which allows for confidential raising of concerns within the school environment. 

## **OBJECTIVES AND ACTIVITIES** 

SAFE CARING HAPPY 

## **CHARITABLE OBJECTIVES** 

Muntham House School supports young people with challenging behaviours linked to Autism, ADHD, Mental and Emotional Health.  Our safe, caring and happy community works with families and local services to improve the quality of life for these remarkable young people and their families. 

The school has the equivalent of 90 full time staff (2020 – 87) in teaching, care, administrative and ancillary positions and an exit level of 96 FTE (103 headcount). 

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**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2022** 

## **ACTIVITIES FOR THE YEAR** 

At the start of 2021-22 the school was emerging from the COVID pandemic and starting to relax some of the restrictions on ways of working.  In the accounts published a year ago we identified the following as the priorities for the school 


1. We said we would focus on closing the gaps in learning opened up during the pandemic.  This has been a very intense programme, supported by the DfE funding made available for catch up activities and school led tutoring.  We invested in additional pastoral support resources during the year and have supported those boys with most needs. 

2. Following the opening of the Therapy centre we have been able to expand our offering to meet needs and our boys attitude to attending therapy sessions has changed dramatically since moving to the new centre.  We plan to offer out-reach therapy and have already started to work with some local schools on what their needs may be. 

3. As planned, we have started the construction work on the second infant provision which is due to be complete in July 2022 and open in September 2022. 

4. Work was completed on the construction of a new Food Technology Suite which was opened early in the 2022-23 year. 

   - This was only possible with the generous support of the Wooden Spoon charity who made a significant donation to cover the costs of all the kitchen equipment. 

5. Following some delays caused by staff and material impacts of COVID we did complete the replacement of all the windows in the main school building as part of the environmental improvements needed to reduce the energy costs of the building. 

6. We were also once again supported by the Belmer Rush Foundation and would like to thank them for all their support over the years.  This year their support contributed to the refurbishment of the hardcourts to accommodate five a side football and basketball. 

7. Infrastructure improvements in electricity supply could not be completed in the year and will be complete early in the 2022-23 financial year. 

## **OBJECTIVES FOR THE COMING YEAR** 

Muntham House School is in a very strong position thanks to the higher numbers of boys.  Teaching and Education support staff numbers increase as the school increases in size and we need to manage our investments accordingly. 

After a sustained period of investment in the school over the past 2-3 years the rate of investment will be lower this year as we look to re-build some of our reserves.  Reserves are only just above the minimum level (102% of minimum) allowed under the school policy so the plans for this year are fewer than last year. 

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**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2022** 

Looking ahead to 2022-23 the main activities and priorities of the school are 

1. Completion and opening of the second infant class facility to increase the places available for the youngest boys needing specialist support. 

2. Conversion of existing space in the school into classrooms to offer a broader and more varied curriculum to Post 16 boys. 

3. Replacement of the roof on the Post 16 accommodation unit for both safety and environmental improvements. 

## **STRATEGIES TO ACHIEVE THE YEAR’S OBJECTIVES** 


Every year we plan our strategies to achieve our aims through the School Implementation Plan (SIP).  This plan provides a description of developing assets and provision to meet the needs of the school’s mission, based on our long term aims which are to match, or better, local and national provision for students with social, emotional and mental health difficulties (SEMH), and become the centre of expertise for the region in such provision. The SIP is a year on year action policy to achieve the twin strategic aims of the school community. 

## **PUBLIC BENEFIT** 

The trustees have had due regard to guidance published by the Charity Commission on public benefit. 

The school aims to meet the special educational needs of boys (ranging from key stage one to key stage five) who have emotional, behavioural and social difficulties. 

Muntham House School is recognised as a leader in the field of Special Needs Education (Behavioural and Social Difficulties), and, as such, provides high quality education and care to boys referred by Local Education Authorities (listed on page 3); and gives support to their families and carers. 

## **FINANCIAL REVIEW AND RESULTS FOR THE YEAR** 

Muntham House’s principal funding comes from fees charged to Local Education Authorities and from grants from the DfE.  Charitable donations and Grants make up the other sources of income with a small contribution from activities such as lettings and weddings. 

This year we are grateful to the continuing support of Belmer Rush Foundation Trust who support the school every year and allow so many new facilities for our boys to be supported.  This year we also received the second payment of a grant of £200,000 from the Constable Education Trust following the completion of the new Therapy Centre. 

Additionally, we were able to acquire a new mini bus thanks to the donation of the Varity Club Golf Society and our thanks go to them for their support. 

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**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2022** 



There were 103 boys on roll at the end of the financial year (compared to 100 the prior year) with a marked increase in Post 16 boy numbers as authorities supported the continued education of boys post the pandemic. 

The financial results for the year show a net surplus (before pension revaluation) of £423,047 (£778,060 in prior year) reflecting the continued prudent financial management of the school and reinvestment of money into the school for improvement projects in line with the charitable objectives of the school. 

## **RESERVES POLICY** 

The School Governors have set a Reserves policy which operates with a maximum level of reserves (based on the cost of closing the school’s liabilities in a worst case scenario) and a minimum level of reserves (based on operating with no income for a period of six months). 

At the end of the year the following reserves were held: 

Endowment reserves made up of land and buildings with a gross value of £1,650,000 less accumulated depreciation of £175,845, a net of £1,474,155 which is held in the subsidiary charity Muntham House School Trust (charity number 115085-1) 

Designated reserves of £695,000 set aside for the completion of the new infant classroom (£405,000), investment in Post 16 facility improvements (£260,000) and historical legal cases (£30,000). 

Restricted reserves stood at £10,367 made up of un-spent Pupil Premium grants carried over the year end. 

Unrestricted reserves (calculated before pension deficit) rose to £2,459,986 (£2,316,416 in prior year) of which £2,274,428 is attributable to the school and £185,695 to the Muntham House School Trust.  This represents 79% of the maximum reserves and 110% of the minimum reserves so is consistent with last year and at a level the governors feel comfortable. 

## **STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS** 

So far as the governors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company’s auditors are unaware, and each governor has taken all the steps that they ought to have taken as a governor in order to make themselves aware of any relevant audit information and to establish that the company’s auditors are aware of that information. 

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**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2022** 

## **POST BALANCE SHEET EVENT** 

No events of significance to report post the balance sheet date. 

This report, including the Strategic Report, was approved by the board of Governors of Muntham House School and signed on their behalf by: 

Signed Signed 



J Knightley, Governor M Kipling, Governor 

13[th] July 2022 

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## **MUNTHAM HOUSE SCHOOL** 

## **(LIMITED BY GUARANTEE) STATEMENT OF GOVERNORS' RESPONSIBILITIES** 

The Governors, who are also the directors of Muntham House School for the purpose of company law, are responsible for preparing the Governors' Report (incorporating the Strategic Report) and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the Governors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company and the group for that year. 

In preparing these accounts, the Governors are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; and 

- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The Governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and the group and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

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**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF MUNTHAM HOUSE SCHOOL** 

## **Opinion** 

We have audited the financial statements of Muntham House School for the year ended 31 March 2022 on pages 19 to 37.  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 March 2020 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 director’s 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 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 director with respect to going concern are described in the relevant sections of this report. 

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## **MUNTHAM HOUSE SCHOOL** 

## **(LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS (CONTINUED) TO THE MEMBERS OF MUNTHAM HOUSE SCHOOL** 

## **Other information** 

The governors are responsible for the other information. The other information comprises the information included in the governors’ annual report, other than the financial statements and our auditor’s report thereon. 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. 

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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. 

## **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 governors’ report (incorporating the strategic report and the governor’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the strategic report and the governors’ report have been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of our 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 strategic 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. 

## **Responsibilities of governors** 

As explained more fully in the governors’ responsibilities statement set out on page 14 **,** the governors (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 governors 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 governors 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 governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

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## **MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS (CONTINUED) TO THE MEMBERS OF MUNTHAM HOUSE SCHOOL** 

## **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. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standardsand-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report. 

## **Extent to which the audit was considered capable of detecting irregularities, including fraud** 

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management. 

Our approach was as follows: 

- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations; 

- We identified the following areas as those most likely to have such an effect: health and safety; General Data Protection Regulation (GDPR); fraud; bribery and corruption and employment law.  Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any. 

- We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006 and the Charities Act 2011) and the relevant tax compliance regulations in the UK; 

- We considered the nature of the company’s/charity’s operations, the control environment and business performance, including the key drivers for management’s remuneration; 

- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit; 

- We considered the procedures and controls that the company/charity has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls. 

17 



**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS (CONTINUED) TO THE MEMBERS OF MUNTHAM HOUSE SCHOOL** 

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error. 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 

## **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. 


**Mark Cummins FCCA (Senior Statutory Auditor) for and on behalf of TC Group Statutory Auditors** Office: Steyning, West Sussex 

Dated: .29 July 2022 

18 



## **MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

|**Notes**<br>**Income from:**<br>Donations<br>**6**<br>Investment income<br>**7**<br>Charitable activities<br>**8**<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>**Total expenditure**<br>**9**<br>**Net Surplus**<br>Gross transfer between funds<br>**17/19**<br>Profit/(loss) on defined benefit<br>pension schemes<br>**16**<br>**Net movement in funds**<br>Fund balances at 1 April 2021<br>**Fund balances at 31 March 2022**<br>**Surplus attributable to school**|**Unrestricted**<br>**funds**<br>**£**<br>2,024<br>1,010<br>5,630,410<br>5,633,444<br>5,314,870<br>5,314,870<br>318,574<br>446,638<br>319,000<br>1,084,212<br>3,537,167<br>4,621,379|<br>**Designated**<br>**funds**<br> <br>**£**<br> <br>-<br> <br>-<br> <br>-<br> <br>-<br> <br>-<br> <br>-<br> <br>-<br> <br>(230,000)<br> <br>-<br> <br>(230,000)<br> <br>925,000<br> <br>695,000|<br>**Restricted**<br>**funds**<br>**Endowment**<br>**funds**<br> <br>**£**<br>**£**<br> <br>145,802<br>-<br> <br>-<br>-<br> <br>527,106<br>- <br> <br>672,908<br>- <br> <br> <br> <br>551,935<br>16,500 <br> <br>551,935<br>16,500 <br> <br>120,973<br>(16,500)<br> <br>(216,638)<br>-<br> <br>-<br>-<br>(95,665)<br>(16,500) <br> <br>106,032<br>1,490,655 <br> <br>10,367<br>1,474,155 <br> <br>|<br>**Total**<br>**2022**<br>**£**<br>**147,826**<br>**1,010**<br>**6,157,516**|<br>**Total**<br>**2021**<br>**£**<br>140,513<br>4,418<br>5,476,059|
|---|---|---|---|---|---|
|||||**6,306,352**|5,620,990|
|||||**5,883,305**|4,842,310|
|||||**5,883,305**|4,842,310|
|||||**423,047**<br>**-**<br>**319,000**|778,680<br>-<br>(557,000)|
|||||**742,047**|221,680|
|||||**6,058,854**|5,837,174|
|||||**6,800,901**|6,058,854|
|||||**758,547**|238,180|



All of the group’s activities other than those identified above are classified as continuing. There are no recognised gains or losses other than those reported on the Statement of Financial Activities. 

19 



**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) SUMMARY INCOME AND EXPENDITURE ACCOUNT** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

|Gross income<br>Total expenditure from income funds<br>**Net income  for the year**|**2022**<br>**£**<br>**6,306,352**<br>**(5,547,805)**<br>**758,547**|2021<br>£<br>5,620,990<br>(5,382,810)|
|---|---|---|
|||238,180|



The summary income and expenditure account is derived from the statement of financial activities on page 19 which, together with the notes on pages 24 to 37, provides full information on the movements during the year on all funds of the charity. 

20 



## **MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) CONSOLIDATED BALANCE SHEET** 

## _**AS AT 31 MARCH 2022**_ 

|**Notes**<br>**£**<br>**Fixed assets**<br>Tangible assets<br>**12**<br>**Current assets**<br>Stocks<br>**5,247**<br>Debtors<br>**13**<br>**267,356**<br>Cash at bank and in hand<br>**3,334,949**<br>**3,607,552**<br>**Creditors: amounts falling due within one year**<br>**14**<br>**(442,232)**<br>**Net current assets**<br>**Total assets less current liabilities**<br>**Defined benefit pension scheme liability**<br>**16**<br>**Total net assets**<br>**Capital funds**<br>Endowment funds<br>**18**<br>**Income funds**<br>Restricted funds<br>**17**<br>**10,367**<br>Unrestricted funds:<br>Designated funds<br>**19**<br>**695,000**<br>Revaluation reserve (Property)<br>**19**<br>**185,695**<br>Other charitable funds<br>**19**<br>**4,435,684**<br>The accounts were approved by the Board on 13thJuly 2022.<br>**J Knightley**<br>**M Kipling**|**£**<br>**5,247**<br>**267,356**<br>**3,334,949**|**2022**<br>**£**<br>**3,873,581**<br> <br> <br> <br> <br> <br>**3,165,320**|£<br> <br>5,371<br>175,942<br>3,352,867|<br>2021<br>£<br>3,368,307<br> <br> <br> <br> <br> <br>3,247,547|
|---|---|---|---|---|
||**3,607,552**<br>**(442,232)**||3,534,180<br>(286,633)||
||**10,367**<br>**695,000**<br>**185,695**<br>**4,435,684**||<br> <br> <br> <br> <br>106,032<br>925,000<br>189,345<br>3,347,822||
|||**7,038,901**<br>**(238,000)**||6,615,855<br>(557,000)|
|||**6,800,901**||6,058,854|
|||**1,474,155**<br> <br> <br> <br> <br>**5,326,746**||1,490,655<br> <br> <br> <br> <br>4,568,199|
|||**6,800,901**||6,058,854|
|||||**No. 05063879**|



21 



**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) SCHOOL BALANCE SHEET** 

## _**AS AT 31 MARCH 2022**_ 

|**Notes**<br>**£**<br>**Fixed assets**<br>Tangible assets<br>**12**<br>Investments<br>**Current assets**<br>Stocks<br>**5,247**<br>Debtors<br>**14**<br>**267,356**<br>Cash at bank and in hand<br>**3,334,949**<br>**3,607,522**<br>**Creditors: amounts falling due within one year**<br>**15**<br>**(442,232)**<br>**Net current assets**<br>**Total assets less current liabilities**<br>**Defined benefit pension scheme liability**<br>**16**<br>**Total net assets**<br>**Income funds**<br>Restricted funds<br>**17**<br>Unrestricted funds:<br>**19**<br>Designated funds<br>Other charitable funds<br>(Deficit)/surplus attributable to school for the financial year<br>The accounts were approved by the Board on 13thJuly 2022|**£**<br>**5,247**<br>**267,356**<br>**3,334,949**|**2022**<br>**£**<br>**2,399,426**<br>**-**|£<br> <br> <br> <br>5,371<br>182,855<br>3,346,515|<br>2021<br>£<br>1,877,652<br>100|
|---|---|---|---|---|
|||**2,399,426**<br> <br> <br> <br> <br> <br>**3,165,320**||1,877,752<br> <br> <br> <br> <br> <br>3,248,108|
||**3,607,522**<br>**(442,232)**||3,534,741<br>(286,633)||
||||<br> <br> <br> <br> <br> <br> <br> <br> <br>||
|||**5,564,746**<br>**(238,000)**||5,125,860<br> (557,000)|
|||**5,326,746**||4,568,860|
|||**10,367**<br>**695,000**<br>**4,621,379**||106,032<br>925,000<br>3,537,828|
|||**5,326,746**||4,568,860|
|||**758,547**||238,180|
||||||




**J Knightley                                                 M Kipling** 

**Company Registration No. 05063879** 

22 



## **MUNTHAM HOUSE SCHOOL** 

## **(LIMITED BY GUARANTEE) CONSOLIDATED CASH FLOW STATEMENT** _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

|**Cash flows from operating activities**<br>**Net income for the year**<br>**Adjustments for:**<br>Transfer from endowment fund<br>Depreciation of tangible fixed assets<br>Transfers within fixed assets<br>Investment income<br>(Increase)/decrease in stocks<br>Decrease/(increase) in debtors<br>(Decrease)/increase in creditors<br>(Decrease)/increase in provisions –<br>(Pension liability)<br>**Cash flows from investing activities:**<br>Investment income<br>Purchase of tangible fixed assets<br>**_Net cash provided by/(used in)_**<br>**_investing activities_**<br>**Change in cash and cash equivalents**<br>**in the year**<br>**Cash and cash equivalents at the**<br>**beginning of the year**<br>**Cash and cash equivalents at the end**<br>**of the year**<br>**Analysis of cash and cash equivalents**<br>Cash at bank and in hand|**2022**<br>**Notes**<br>**£**<br>**£**<br>£<br>**758,547**<br>238,180<br>**(16,500)**<br>(16,500)<br>**205,553**<br>170,746<br>**61,742**<br>(4,504)<br>**(1,010)**<br>(4,418)<br>**124**<br>(1,221)<br>**(91,410)**<br>(95,982)<br>**155,599**<br>151,750<br>**(319,000)**<br>557,000<br>**753,645**<br>**7**<br>**1,010**<br>4,418<br>**12**<br>**(772,573)**<br>(211,831)<br>**(771,563)**<br>**(17,918)**<br>**3,352,867**<br>**3,334,949**<br>**At 1 April**<br>**Cash flow**<br>**Non-cash**<br>**2021**<br>**changes**<br>**£**<br>**£**<br>**£**<br>3,352,867<br>(17,918)<br>-<br>**3,352,867**<br>**(17,918)**<br>**-**|£<br>238,180<br>(16,500)<br>170,746<br>(4,504)<br>(4,418)<br>(1,221)<br>(95,982)<br>151,750<br>557,000|£<br>238,180<br>(16,500)<br>170,746<br>(4,504)<br>(4,418)<br>(1,221)<br>(95,982)<br>151,750<br>557,000|2021<br>£<br>995,051<br>(207,413)<br>787,638<br>2,565,229<br>3,352,867<br>**At 31 March**<br>**2022**<br>**£**<br>3,334,949|
|---|---|---|---|---|
|||4,418<br>(211,831)|||
||||||
|||||**3,334,949**|



23 



**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **1 Statutory information** 

Muntham House School is a charitable company, limited by guarantee, registered in England and Wales. The charitable company’s registered number and registered office address can be found in the Governors’ Report. 

## **2 Accounting policies** 

## **2.1 Basis of preparation** 

The financial statements have been prepared in accordance with 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 (FRS102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. 

Muntham House School meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). 

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. This includes taking into account any potential impact of the COVID-19 pandemic. There are no material uncertainties about Muntham House School’s ability to continue as a going concern. 

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 

## **2.2 Group financial statements** 

The financial statements consolidate the results of the charity and Muntham House School Trust, a linked charity (charity number 1105085-1), on a line by line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented as the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006. 

## **2.3 Income** 

Local authority fees and other income are included in the period in which the service is provided. 

Investment income is accounted for when receivable. 

Grants are credited to the Statement of Financial Activities in the year in which they are receivable unless a grant is subject to donor imposed conditions that specify the time period in which the expenditure of the resources can take place; in which case they are deferred. 

## **2.4 Expenditure** 

Expenditure is accounted for on an accruals basis with the irrecoverable element of VAT included with the item to which it relates. 

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. These are included in support costs. 

All costs are allocated between expenditure categories and departments on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly. 

## **2.5 Tangible fixed assets and depreciation** 

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: 

24 



## **MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

Freehold land is not depreciated Assets currently under construction are not depreciated. Freehold buildings 1%, 2.5% and 5% straight line Plant and machinery 10% and 25% straight line Fixtures, fittings & equipment Between 7.5% and 33.33% straight line Motor vehicles 33.33% straight line 

The freehold land and buildings were professionally valued in May 1997. The fair value was determined to be £1.65m which was incorporated into the accounts for the year ended 31 August 1997 and produced an increase in value of £365,000. The charity has adopted the transitional provisions of FRS 102 to continue to treat this value as the deemed cost. 

The value of the Freehold Land not depreciated is £330,000. 

Items for educational purposes for pupils to assist with learning are not considered to be of a capital nature and are written off to the Statement of Financial Activities. Other non-educational items of capital expenditure up to £1,000 are written off to the Statement of Financial Activities. 

## **2.6 Leasing and hire purchase commitments** 

Rentals payable under operating leases are charged against income on a straight line basis over the period of the lease. 

## **2.7     Investments** 

Fixed asset investments are stated at fair value, except investments in subsidiary undertakings which are stated at cost. 

## **2.8     Taxation** 

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Financial Activities, except to the extent that it relates to items recognised in other comprehensive income. 

Current or deferred taxation assets and liabilities are not discounted. 

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. 

## **2.9     Deferred tax** 

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. 

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. 

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 

## **2.10 Stock** 

Stock is valued at the lower of cost or net realisable value. 

## **2.11 Cash at bank and in hand** 

Cash at bank and in hand includes cash and short term highly liquid investments.  The Governors seek to use short and medium term deposits where possible to maximise the return on monies held at the bank and to manage cash flow. 

25 



**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **2.12 Trade and other debtors** 

Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due. 

## **2.13 Creditors and provisions** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. 

## **2.14 Pensions** 

Teaching staff are members of the Teachers’ Pension Scheme (TPS), a defined benefit scheme administered by the Teachers’ Pension Agency. Contributions to the Scheme are charged to the Statement of Financial Activities as they fall due. The Teachers’ Pension Scheme is an unfunded scheme. Contributions on a “pay as you go” basis are credited to the exchequer under arrangements governed by the Superannuation Act 1972. Actuarial valuations are carried out on a notional set of investments. Under the definitions set out in Financial Reporting Standard 102, the Teachers’ Pension Scheme is a multi-employer pension scheme. The charity is unable to identify its share of the underlying (notional) assets and liabilities of the scheme. Accordingly, under Financial Reporting Standard 102 the scheme is accounted for as if it were a defined contributions scheme. 

The charity also contributes to personal pension schemes for non-teaching staff, including the Local Government Pension Scheme (LGPS) administered by West Sussex County Council. The charity is able to identify its share of the underlying (notional) assets and liabilities as detailed in note 17. 

## **2.15 Fund accounting** 

Funds held by the charity are either: 

Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the governors. 

Designated funds – these are funds set aside by the governors out of unrestricted general funds for specific future purposes or projects. 

Restricted funds – these are funds that 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. 

Endowment funds - these are land and building funds which cannot be sold without the prior consent of the Charity Commission, further details of which can be found in note 19. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **2.16 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. 

The governors do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements. 

## **3 Turnover** 

The turnover of the charity is wholly attributable to the objectives of the charity as stated in the Governors’ Report and is earned entirely in the UK. 

26 



## **MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **4 Net income/(expenditure) for the year** 

|**et income/(expenditure) for the year**|||
|---|---|---|
|This is stated after charging:|**2022**|**2021**|
||**£**|**£**|
|Operating leases – equipment|650|650|
|Depreciation|205,553|170,746|
|Auditors remuneration (group):|||
|Audit fees – charity|11,0000|9,960|
|Stock expensed|(124)|(1,221)|



## **5 Taxation** 

The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010. 

## **6 Income from donations** 

|Donations and gifts<br>**Donations and gifts**<br>Unrestricted funds:<br>Donations and gifts<br>Restricted funds:<br>William Belmer Rush Foundation<br>Salix<br>Constable Education<br>LCSF<br>C Knightley<br>Variety Club<br>D of E|**Unrestricted**<br>**funds**<br>**£**<br>**2,024**|**Restricted**<br>**funds**<br>**£**<br>**145,802**|**Total 2022**<br>**£**<br>**147,826**<br>**2,024**<br>**24,778**<br>**1,668**<br>**100,000**<br>**-**<br>**-**<br>**16,638**<br>**3,000**<br>**145,802**|Total 2021<br>£<br>140,513|
|---|---|---|---|---|
|||||8,227|
|||||26,052<br>-<br>100,000<br>3,234<br>3,000<br>-<br>-|
|||||132,286|



## **7 Income from investments** 

Interest receivable 

|**2022**|2021|
|---|---|
|**£**|£|
|**1,010**|4,418|



27 



## **MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE)** 

## **NOTES TO THE ACCOUNTS** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **8 Income from charitable activities** 

|Main school fees<br>EEU fees<br>County Assistance – restricted income<br>Less bursaries<br>Net school fees<br>Bursaries and awards from restricted funds<br>Rental income<br>Other income|**2022**<br>**£**<br>**4,897,181**<br>**732,924**<br>**440,150**<br>**(10,248)**<br>**6,060,007**<br>**10,248**<br>**13,132**<br>**74,129**<br>**6,157,516**|2021<br>£<br>4,457,561<br>585,228<br>355,571<br>(269)|
|---|---|---|
|||5,398,091<br>269<br>10,397<br>67,302|
|||5,476,059|



- **9 Expenditure** 

|**Staff costs**<br>**£**<br>**Charitable activities**<br>Education<br>Education costs<br>2,792,147<br>Care costs<br>561,260<br>Premises costs<br>206,536<br>Support costs<br>458,383<br>Bursaries from restricted funds<br>-<br>4,018,326<br>**Total Expenditure**<br>**4,018,326**<br>**nalysis of support costs (including Governance**<br>Wages and salaries<br>Legal and professional<br>General office and administration<br>Vehicle and travel<br>Governance costs:<br>Audit fees|**Depreciation**<br>**£**<br>108,453<br>-<br>69,957<br>27,143<br>-<br>205,553<br>**205,553**<br>**costs)**|**Other costs**<br>**£**<br>334,683<br>76,774<br>866,007<br>371,714<br>10,248<br>1,659,426<br>**1,659,426**|**Total 2022**<br>**£**<br>**3,235,283**<br>**638,034**<br>**1,142,500**<br>**857,240**<br>**10,248**<br>**5,883,305**<br>**5,883,305**<br>**2022**<br>**£**<br>**458,383**<br>**161,936**<br>**165,646**<br>**55,915**<br>**15,360**<br>**857,240**|Total 2021<br>£<br>2,697,540<br>624,270<br>735,508<br>784,723<br>269|
|---|---|---|---|---|
|||||4,842,310|
|||||4,842,310|
|||||2021<br>£<br>387,864<br>59,183<br>256,150<br>71,566<br>9,960|
|||||784,723|



**Analysis of support costs (including Governance costs)** 

## **10    Governors** 

None of the Governors (or any persons connected with them) received any remuneration during the year or received any reimbursement of expenditure for their services as Governors. 

28 



**(LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** 

## **MUNTHAM HOUSE SCHOOL** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **11     Employees** 

## **Number of employees** 

The average monthly headcount was 107 staff (2021: 96 staff) and the average monthly number of full time equivalent employees during the year was: 

|Teaching and other staff<br>**Employment costs**<br>Wages and salaries<br>Social security costs<br>Pension costs<br>Staff earning in excess of £60,000 per annum in the following bands are:<br>£60,000 - £69,999<br>£70,000 - £79,999<br>£80,000 - £89,999<br>£90,000- £129,999||**2022**<br>**Number**<br>**96** <br>**2022**<br>**£**<br>**3,208,236**<br>**272,903**<br>**537,187**<br>**4,018,326**<br>**2022**<br>**Number**<br>**-**<br>**1**<br>**-**<br>**1**||2021<br> Number<br>90<br>2021<br>£<br>2,749,507<br>241,259<br>508,291|
|---|---|---|---|---|
|||||3,499,257|
|||||2021<br>Number<br>-<br>1<br>1<br>-|



Of the employees whose emoluments exceed £60,000, 2 (2021: 2) have retirement benefits accruing under defined benefit pension schemes. Pension contributions for higher paid employees in the year amounted to £41,490 (2021: £31,879). 

The key management personnel of the charitable company comprise the Principal, Head of Education, Head of Care and Head of Finance. 

The total employee benefits of the key management personnel were £340,347 (2021: £325,480). 

29 



## **MUNTHAM HOUSE SCHOOL** 

## **(LIMITED BY GUARANTEE)** 

## **NOTES TO THE ACCOUNTS** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

|**12**<br>**Tangible fixed assets**<br>**Land and**<br>**buildings**<br>**£**<br>**Cost**<br>At 1 April 2021<br>3,430,424<br>Additions<br>539,702<br>Disposals<br>-<br>Transfers<br>26,385<br>**At 31 March 2022**<br>3,996,511<br>**Depreciation**<br>At 1 April 2021<br>547,201<br>Charge for the year<br>69,958<br>Disposals<br>-<br>Adjustments<br>-<br>**At 31 March 2022**<br>617,059<br>**Net book value**<br>**At 31 March 2022**<br>**3,749,452**<br>At 31 March 2021<br>2,883,323<br>**School tangible fixed assets**<br>**£**<br>**Group assets at 31 March 2022**<br>**3,749,452**<br>Less Endowment funds<br>(1,474,155)<br>**School assets at 31 March 2022**<br>**1,905,297**|**Plant and**<br>**machinery**<br>**£**<br>277,990<br>157,213<br>-<br>2,305<br>437,508<br>127,776<br>57,387<br>-<br>(307)<br>184,856<br>**252,652**<br>150,214<br>**£**<br>**252,652**<br>**-**<br>**252,652**|**Fixtures, fittings**<br>**& equipment**<br>**£** <br>604,459<br>75,658<br>(2,722)<br>(2,390)<br>604,459<br>358,042<br>78,208<br>(2,722)<br>-<br>433,528<br>**241,447**<br>246,417<br>**£** <br>**241,447**<br>**-**<br>**246,417**|**Assets under**<br>**construction**<br>**£**<br>88,353<br>-<br>-<br>(88,353)<br>-<br>-<br>-<br>-<br>-<br>-<br>**-**<br>88,353<br>**£**<br>**-**<br>**-**<br>**88,353**|**Total**<br>**£**<br>4,401,226<br>772,573<br>(2,722)<br>(62,503)|
|---|---|---|---|---|
|||||5,109,624|
|||||1,032,919<br>205,553<br>(2,722)<br>(307)|
|||||1,235,443|
|||||**3,873,581**|
|||||3,368,307|
|||||**£**<br>**3,873,581**<br>(1,474,155)|
|||||**2,399,426**|



The transfer between assets codes reflects how the assets are used within the school. 

The school fixed assets are as above after accounting for the endowment assets below: 

The adjustments are as a result of reconciliations and bringing the sub ledger and nominal in line with each other. 

The endowment funds consist of Land and Buildings of £1,650,000 less depreciation of £175,845 which are held as an endowment and are owned by the linked charity Muntham House School Trust (charity number: 11050851). 

The endowment land and buildings were professionally valued in May 1997.  The fair value of £1.65m was incorporated into the accounts for the year ended 31 August 1997 and using the transitional provisions of FRS102 it continues to be treated as the deemed cost. 

30 



## **MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

If the land and buildings had not been revalued they would be included at the following historical cost: 

|Cost<br>Aggregate depreciation<br>Value of land in freehold land and buildings<br>**13** **Debtors**<br>**Consolidated**<br>**2022**<br>2021<br>**£**<br>£<br>Trade debtors<br>**41,794**<br>105,599<br>Amounts owed by group undertakings<br>**-**<br>-<br>Other debtors<br>**410**<br>1,584<br>Prepayments and accrued income<br>**225,152**<br>68,358<br>**267,356**<br>175,942||**2021**<br>**£**<br>2020<br>£<br>**1,285,000**<br>1,285,000<br>**301,450**<br>291,900<br>**330,000**<br>330,000<br>**School**<br>**2022**<br>2021<br>**£**<br>£<br>**41,794**<br>105,599<br>**-**<br>6,908<br>**410**<br>1,590<br>**225,152**<br>68,358<br>**267,356**<br>182,855|**2021**<br>**£**<br>2020<br>£<br>**1,285,000**<br>1,285,000<br>**301,450**<br>291,900<br>**330,000**<br>330,000<br>**School**<br>**2022**<br>2021<br>**£**<br>£<br>**41,794**<br>105,599<br>**-**<br>6,908<br>**410**<br>1,590<br>**225,152**<br>68,358<br>**267,356**<br>182,855|
|---|---|---|---|
|||||
|||||
||||182,855|



## **14 Creditors: amounts falling due within one year** 

|Trade creditors<br>Fees in advance and deferred income<br>Other creditors<br>Accruals and deferred income|**Consolidated**<br>**2022**<br>2021<br>**£**<br>£<br>**193,643**<br>115,822<br>**74,348**<br>72,349<br>**114,327**<br>68,561<br>**59,914**<br>29,901<br>**442,232**<br>286,633|**School**<br> <br>**2022**<br>2021<br> <br>**£**<br>£<br>**193,643**<br>115,822<br>**74,348**<br>72,349<br>**114,327**<br>68,561<br>**59,914**<br>29,901<br>**442,232**<br>286,633|**School**<br> <br>**2022**<br>2021<br> <br>**£**<br>£<br>**193,643**<br>115,822<br>**74,348**<br>72,349<br>**114,327**<br>68,561<br>**59,914**<br>29,901<br>**442,232**<br>286,633|
|---|---|---|---|
||||286,633|



## **Fees in advance and deferred income** 

Deferred income comprises monies received for the provision of services after the year end. 

|Balance as at 1 April 2021<br>Amount released to income earned from charitable activities<br>Amount deferred in year<br>Balance as at 31 March 2022<br>Made up as follows:<br>Fees in advance<br>Deferred income<br>Balance as at 31 March 2022|**£**<br>72,349<br>(72,349)<br>74,349|
|---|---|
||**74,349**|
||21,159<br>52,190|
||**74,349**|



31 



**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **15 Teachers' Pension Scheme** 

During the year, the School participated in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £222,462 (2021: £176,286) and at the year-end £nil (2021 - £nil) was accrued in respect of contributions to this scheme. 

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. 

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%. 

The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However, the assumptions were considered and set by the Department for Education prior to the ruling in the ‘McCloud/Sargeant case’. This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions including the Teachers’ Pensions. 

On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appeal’s judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Court’s decision and has said it will engage fully with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remedied. The government announced on 4 February 2021 that it intends to proceed with a deferred choice underpin under which members will be able to choose either legacy or reformed scheme benefits in respect of their service during the period between 1 April 2015 and 31 March 2022 at the point they become payable. 

The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal’s ruling in the McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020, and a consultation was launched on 24 June on proposed changes to the cost control mechanism following a review by the Government Actuary. The consultation closed to response on 19 August 2021 and the Government is currently analysing the responses. 

In view of the above rulings and decisions the assumptions used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario, a valuation prepared in accordance with revised benefits and suitably revised assumptions would yield different results than those contained in the Actuarial Valuation. 

Until the consultation and the cost cap mechanism review are completed it is not possible to conclude on any financial impact or future changes to the contribution rates of the TPS. Accordingly no provision for any additional past benefit pension costs is included in these financial statements. 

32 



**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **16 Local Government Pension Scheme** 

Muntham House School is an admission body of the Local Government Pension Scheme (LGPS) administered by West Sussex County Council. 

The LGPS is a funded defined benefit scheme, with assets held in separate trustee administered funds. Contributions to the schemes are determined by qualified actuaries on the basis of triennial valuations using the projected unit method. The scheme is a multi-employer pension scheme. 

The total employer's contribution made for the year ended 31 March 2022 was £317,000 (2021: £330,081). The agreed contribution rates for the year ended 31 March 2022 were from 5.5% to 8.5% for employees and 19.9% for employers. 

The following information is based upon full actuarial valuations of the funds at 31 March 2022 by qualified independent actuaries for the entire West Sussex Council Pension Fund. 

The principal actuarial assumptions used by the actuaries were as follows: 

||**_2022_**|_2021_|
|---|---|---|
||_%_|_%_|
|_Discount rate at 31 March_|_2.75_|_2.05_|
|_Rate of increase in pensions payment_|_3.15_|_2.8_|
|_Rate of increase in salaries_|_3.65_|_3.3_|



The post retirement mortality assumptions used to value the benefit obligation are based on the Fund's Vita Curves with improvements in line with the CMI 2018 model assuming long term improvements of 1.5% p.a. Based on these assumptions, the average future life expectancy of an average male reaching age 65 in 2022 is 23 years. The life expectancy of a female member reaching age 65 in 2022 is projected to be 26 years. 

The expected return on plans' assets is based on market expectations for investment returns over the life of the related obligation. 

The major categories of plan asset as a percentage of the total plans' assets, are as follows: 

||**_2022_**|_2021_|
|---|---|---|
||_%_|_%_|
|_Equities_|_50_|_56_|
|_Bonds_|_34_|_31_|
|_Property_|_15_|_7_|
|_Cash_|_1_|_6_|



Changes in the Fair Value of Plan Assets, Defined Benefit Obligation and Net Liability for year-end 31 March 2022: 

||**2022**|2021|
|---|---|---|
||**£'000**|£'000|
|Fair value of Employer Assets|**11,472**|11,213|
|Present Value of Funded Liabilities|**(11,710)**|(11,770)|
|Surplus / (Deficit)|**(238)**|(557)|



33 



**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **17 Restricted funds** 

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: 

|William Belmer Rush Foundation<br>Constable Education Trust<br>Salix<br>D of E grant<br>Variety Club<br>County Assistance<br>16 to 19 Bursary Release<br>PE Premium<br>Pupil Premium<br>_William Belmer Rush Foundation_|**Balance at 1**<br>**April 2021**<br>**£**<br>-<br>100,000<br>-<br>-<br>-<br>-<br>-<br>-<br>6,032<br>**106,032**|**Movement in funds**<br>**Income**<br>**Expenditure**<br>**and transfers**<br>**£**<br>**£**<br>24,778<br>(24,778)<br>100,000<br>(200,000)<br>1,386<br>(1,386)<br>3,000<br>(3,000)<br>16,638<br>(16,638)<br>440,150<br>(440,150)<br>10,248<br>(10,248)<br>23,414<br>(23,414)<br>53,294<br>(48,959)<br>**672,908**<br>**(768,573)**|**Balance at 31**<br>**March 2022**<br>**£**<br>-<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>10,367|
|---|---|---|---|
||||**10,367**|
|||||



This is a capital grant received from the foundation. 

## _Constable Education Trust_ 

The Constable Education Trust have generously donated £200,000 for the new Therapy Centre of which £100,000 was received in the year. 

## _Variety Club_ 

The school received a generous donation to obtain a new minibus 

## _County assistance_ 

This is funding received from county councils for the provision of one to one special needs teaching assistants for individual pupils. 

## _16-19 Bursary_ 

This is funding received from the department specifically in respect of bursaries. 

## _PE Premium_ 

Funding was received from the department to provide specialist PE and sport support for local schools. 

## _Pupil Premium_ 

This is funding received from the government to decrease the attainment gap for disadvantaged children, whether by income or by family upheaval. 

34 



**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **18 Endowment funds** 

The funds of the group include endowment funds included in the linked charity The Muntham House School Trust (Charity number 1105085-1) which constitute the following; 

|**Permanent Endowments**<br>Land and buildings|**Balance at 1**<br>**April 2021**<br>**£**<br>1,490,655<br>**1,490,655**|**Movement in funds**<br>**Income**<br>**Expenditure**<br>**£**<br>**£**<br>-<br>(16,500)<br>**-**<br>**(16,500)**|**Transfers**<br> <br>**£**<br>-<br>**-**|**Balance at 31**<br>**March 2022**<br>**£**<br>1,474,155|
|---|---|---|---|---|
|||||**1,474,155**|



The endowment fund consists of land and buildings of £1,650,000 less depreciation of £175,845 which are owned by the subsidiary charity Muntham House School Trust (charity number: 1105085-1). The fair value of the Freehold Land not depreciated is £330,000. 

During the year depreciation of the buildings amounted to £16,500 (2021: £16,500). 

## **19 Unrestricted funds** 

The unrestricted funds of the charity include the following: 

|Balance at 1 April 2021<br>Transfers to/from designated funds<br>Transfer to general funds for difference between<br>depreciation on cost and revalued amounts<br>Utilised through capital spending<br>Deficit for the year<br>**Balance at 31 March 2022**|**Designated**<br>**funds**<br>**£**<br>925,000<br>365,761<br>-<br>(595,761)<br>-|**Fair value**<br>**reserve**<br>**£**<br>189,345<br>-<br>(3,650)<br>-<br>-|**General**<br>**funds**<br>**£**<br>3,347,822<br>(365,761)<br>3,650<br>-<br>-|**Total**<br>**£**<br>**4,462,167**<br>**-**<br>**-**<br>**(595,761)**<br>**278,673**|
|---|---|---|---|---|
||**695,000**|**185,695**|**2,985,711**|**3,866,406**|



The Designated funds are in respect of the Infant class of £405,000 (2021: £495,000) for the rolling fixed asset replacement and maintenance programme), funds for a Post 16 class of £260,000 (2021:£nil) and £30,000 (2021:£30,000) in relation to historical abuse claims. 

## **20 Share capital** 

The charity is a company limited by guarantee and has no share capital. 

## **21 Commitments under operating leases** 

At 31 March 2022 the school had total commitments payable under non-cancellable operating leases as follows: 

|<br>Within one year<br> <br>Within two to five years<br> <br> <br>|**2022**<br>**£**<br>**2,600**<br>**1,951**<br>**4,551**|2021<br>£<br>2,600<br>4,551|
|---|---|---|
|||7,151|



35 



**MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE)** 

**NOTES TO THE ACCOUNTS** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **22 Analysis of net assets between funds** 

Fund balances at 31 March 2022 are represented by: 

|Tangible fixed assets<br>Current assets<br>Creditors: amounts falling<br>due within one year<br>Pension Liability|**Restricted**<br>**funds**<br>**£**<br>-<br>10,367<br>-<br>-|**Designated**<br>**funds**<br>**£**<br>-<br>695,000<br>-<br>-|**Endowment**<br>**Fund**<br>**£**<br>1,474,155<br>-<br>-<br>-|**Unrestricted**<br>**funds**<br>**£**<br>2,399,426<br>2,902,185<br>(442,232)<br>(238,000)|<br>**2021**<br>**Total**<br>**£**<br>**3,873,581**<br>**3,607,552**<br>**(442,232)**<br>**(238,000)**|
|---|---|---|---|---|---|
||10,367|695,000|1,474,155|4,621,379|**6,800,901**|



## **Analysis of net assets between funds** 

Fund balances at 31 March 2021 are represented by: 

|Tangible fixed assets<br>Current assets<br>Creditors: amounts falling<br>due within one year<br>Pension Liability|**Restricted**<br>**funds**<br>**£**<br>-<br>106,032<br>-<br>-|**Designated**<br>**funds**<br>**£**<br>-<br>925,000<br>-<br>-|**Endowment**<br>**Fund**<br>**£**<br>1,490,655<br>-<br>-<br>-|**Unrestricted**<br>**funds**<br>**£**<br>1,877,652<br>2,503,148<br>(286,663)<br>(557,000)|<br>**2020**<br>**Total**<br>**£**<br>**3,368,307**<br>**3,534,180**<br>**(286,663)**<br>**(557,000)**|
|---|---|---|---|---|---|
||106,032|925,000|1,490,655|3,537,167|**6,058,854**|



## **23 Related parties** 

J Knightley (Trustee during the year) is a Trustee of the William Belmer Rush Foundation. The Foundation awarded a grant of £24,778 to the school in the year (2021: £26,052). No amounts have been deferred into next year. 

## **24 Capital Commitments** 

The school has capital commitments at the year-end relating to the new infant classroom of £405,000. 

## **25 Contingent Liability** 

At the balance sheet date the school was involved in potential insurance matters concerning historical events, where the outcome is uncertain and any potential liabilities cannot be quantified. 

36 



## **MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **26 Statement of financial activities comparative funds – year ended 31 March 2021** 

|**Income from:**<br>Donations<br>Investment income<br>Charitable activities<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>**Total expenditure**<br>**Net Income/(expenditure)**<br>Gross transfer between funds<br>Loss on defined benefit pension<br>schemes<br>**Net movement in funds**<br>Fund balances at 1 April 2019<br>**Fund balances at 31 March**<br>**2020**<br>**Surplus attributable to school**|**Unrestricted**<br>**funds**<br>**£**<br> <br>8,277<br>4,418<br>5,059,227<br>5,071,872<br> <br> <br>4,366,199<br>4,366,199<br>735,673<br>(645,000)<br>(557,000)<br>(466,327) <br>4,003,494<br>3,537,167<br> <br>|**Designated**<br>**funds**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>645,000<br>-<br>645,000<br>280,000<br>925,000|**Restricted**<br>**funds**<br> <br>**£**<br> <br>132,286<br> <br>-<br> <br>416,832<br> <br>549,118<br> <br>489,611<br> <br>489,611<br> <br>(59,507)<br> <br>-<br> <br>-<br> <br>(59,507)<br> <br>46,525<br> <br>106,032|**Endowment**<br>**funds**<br> <br>**£**<br> <br>-<br> <br>-<br> <br>-<br> <br>-<br> <br> <br> <br>16,500<br> <br>16,500<br> <br>(16,500)<br> <br>-<br> <br>-<br>(16,500) <br> <br>1,507,155 <br> <br>1,490,655<br>|**Total**<br>**2021**<br>**£**<br>**140,513**<br>**4,418**<br>**5,476,059**|
|---|---|---|---|---|---|
||||||**5,620,990**|
||||||**4,242,310**|
||||||**4,242,310**|
||||||**778,680**<br>**-**<br>**(557,000)**|
||||||**221,680**|
||||||**5,837,174**|
||||||**6,058,854**|
||||||**238,180**|



All of the groups activities are classified as continuing except as disclosed above. There are no recognised gains or losses other than those reported on the Statement of Financial Activities. 

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