Charity Registration No. 1105085 

Company Registration No. 05063879 (England and Wales) 

MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) 

GOVERNORS’ REPORT AND CONSOLIDATED ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2023 

(17 MONTHS) 



MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) CONTENTS 

||Page|
|---|---|
|Governors’ report (incorporating the Strategic Report)|1|
|Statement ofGovernors’ responsibilities|17|
|Independent auditors’ report|18|
|Consolidated statement of financial activities|22|
|Summary income and expenditure account|23|
|Consolidated balance sheet|24|
|School balance sheet|25|
|Cash flow statement|26|
|Notestotheaccounts|27|





## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 

## INTRODUCTION 

The School year was again affected by Covid but procedures we have adopted meant there was little impact on learning. We have accepted that Covid is something we have to live with and we continue to refine our plans for dealing with it. 

The second infants’ classroom was opened on schedule at the start of the Autumn term and is already nearly full. With the assistance of the annual grant from the Belmer Rush Foundation we were able to install a superb climbing and activity frame which is in constant use — we again have to thank the Trustees of the Foundation. 


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The central dining hall was completely revamped and is now a most attractive facility. The Therapy Centre continues to be used extensively and we now employ 12 specialist therapists who are able to deal with the increasingly complex needs presented by our boys. We offered to provide therapy to the pupils of four secondary schools around Horsham and this was eagerly accepted. !t has been so successful that we have now extended our offer to four junior schools including Barns Green, Southwater Academy, Trafalgar and Three Bridges School. 

In keeping with the Zeitgeist we are paying great attention to staff welfare and mental health. This is provided primarily through our inset training days — we set aside more than double the number of such days compared with other schools. 

We continue to set great store on staff training and development, and fund courses for a number of staff, including several LSA’s, which enables them to become fully qualified teachers. 

The demand for places at the School continues unabated and we are developing plans to increase the number of boys we can accept without losing the safe, family atmosphere which is so valuable. 

There has been an increase in the number of boarders, including some very young boys. This is important as 

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## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 

we find that boarders make more rapid progress than day boys. 

Finally, the Governors would like to thank all our staff for the dedication and hard work they put in to ensure that Muntham House is one of the best and most successful SEN schools in the country, and in particular the leadership of the Principal, Mr Anderson. 

## John Knightley 

Chairman of Governors 


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## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 

## PRINCIPAL’S REPORT 

This year has been another successful year for the school in which we have continued to improve the environment both internally and externally developing the provision further. The main building work which has taken place is the new roof in post 16 which was completed over the summer holidays to a high standard. This was phase 1 of the building in preparation for phase 2 which will need to be completed by September 2025, when we will have 16 boys moving from year 11, in addition to the current numbers already in post 16. The main works on the school grounds has been the recent work to the school drive-way, adding two extensive passing bays to minimise congestion on the drive and allow taxis particularly to enter and exit the school smoothly without issue. The school car park has also been increased to enable taxis to drop off pupils without issue. This increase has provided us with spaces for an additional 40 cars which has been appreciated greatly by the staff team. 

New hand-wash basins have been installed in the secondary dining hall so that pupils can wash their hands before eating. This will help reduce the spread of Covid within our school community. This space was previously a cleaning cupboard which was not in high use, so relocated the cupboard to another area of the school, before re-deploying it into a much needed washroom space for the pupils. 


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Pupil numbers in primary have continued to grow, we are full in 3 of the new primary classrooms and have not increased numbers in the fourth because of the age, complexities and toileting issues of our youngest pupils. In secondary pupil numbers have remained stable to help retain the high standards which we pride ourselves upon. It has been pleasing to see the residential numbers increasing however, the residential pupils which we have taken are proving to be extremely challenging in their behaviour. 

This year we continued to coordinate the regional and national SEN Football competition with the regional events held here at MHS on 14/6/23 and the national event held at St Georges Park on 12/7/23. Again the standard of competition was high however, our team was more successful than last year finishing in fourth place nationally. Both competitions were a great success and provide memorable opportunities and experiences for all of our boys involved along with boys from many other special schools. Both events have reputational benefits for the school and demonstrate our inclusive work with other schools on both a regional and national level. 

Additional play equipment has been purchased for our younger pupils in primary to enable them to play and develop their physical coordination and physical fitness. Some of the new pupils who have joined this class have physical coordination problems, so will benefit from using the new equipment ona daily basis for exercise. Programmes are designed by the school Occupational Therapist for those requiring this space specifically. The new play equipment has been carefully selected to develop balance, coordination of our young pupils. It has been positioned directly outside our youngest classroom so the youngest pupils can have easy access. 

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## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 

Si dl re Beas 12 RESTART ROR tant cigfems Coen annaSE 2 ee ee Se ee Ee We presented at the National Autism Show in London in June last year and | am pleased to report that, we have started another pupil whose parents we met at the show. He is 5 years old and has just joined our youngest primary group. There have also been many additional enquires of interest following the show. Asa whole school, we have been working on a nationally recognised accreditation scheme through the National Autistic Society. If successful, this will clearly demonstrate to parents, agencies and outside agencies the high level of specialist provision at school for autistic pupils. Out of our current number of pupils on roll, 72% have a primary diagnosis of autism. It is only right and sensible in our strategic direction, that the schoo! is recognised as a specialist provision for autism. 

Residential trips have been a key area of focus for the pupils this year at Muntham House School. Our younger pupils are attending Sayers Croft Outdoor Activity centre for a two night residential trip. Various pupils from Key stage 4 pupils will be sailing to France as part of the Tall Ships charitable programme. Other pupils from this age group will be taking part in the Three Peaks Challenge during the Summer term where they will all hopefully climb and conquer the highest peaks in Scotland, England and Wales reaching the summit of Ben Nevis, Scafell Pike and Snowden. Each of these trips will provide lifelong memories for our pupils which they would not experience otherwise. Each of trips will enable each pupil to achieve the nationally recognised Duke of Edinburgh’s Award. As pupils have all never sailed before, they have already started their training programme as you see in the picture below. This is provided by the Tall Ships Charity within the cost of the trip. 


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Harry Anderson, Principal 

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MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 a 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

GOVERNORS, OFFICERS AND ADVISERS John Knightley (Chairman) + Bartholomew Callaghan + Jonathan Copeland + lan Davies + Daniel Farnfield + Stephen Fisher + * Martin Fuller Peter Higgins + * Laura Hofton Barry Jones + Harvey Jones Michael! Kipling + Tracey Kirk + 

- Angela Luff (Staff Governor) + Kate Naish (until March 2023) + 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 


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## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 a(n——————————— io 

## Estate/Buildings 

- Jonathan Copeland 

   - Martin Fuller 

   - Harvey Jones John Knightley Angelia Luff 

Gavin Pusey (co-opted as Estates Manager) Dave Harris (co-opted as !T Manager) 

Lorraine Wright (co-opted as Housekeeper) 

Daniel Jones (co-opted as School Finance Manager) 

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 

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 


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MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 i 

et 

## OFFICERS 


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|The|School|Principal,|Harry Anderson,|is an|ex|officio member|of all|sub|committees.|
|Principal|Harry Anderson|
|Head|of Finance / Company Secretary|Daniel|Jones|

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Other members of the Senior Management Team 


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|---|---|---|---|---|---|---|---|---|---|---|
|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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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). 


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## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 pipelineEEEee TT 

## REFERENCE AND ADMINISTRATIVE INFORMATION 


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

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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 122 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 Hampshire County Council The Royal Borough of Kingston upon Thames The London Borough of Enfield The London Borough of Richmond & Wandsworth Brighton & Hove City Council 


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## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 —_—_———————— eee 

## 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 focal 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 schoo! 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 Schoo! 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 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. 

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## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 314 AUGUST 2023 anee 


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## 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. 

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. 

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## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 


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The Governors consider the principal risks and uncertainties facing the school and plot them on a matrix against impact and likelihood in a process owned by the Finance Committee of the Board. 

The latest risk matrix is presented below: 


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## 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. Pay awards and general inflation continue to run well above the level of fee increases from Local Authorities meaning the money available to invest in the continuous improvement of the school is becoming more and more constrained. Whilst this risk is immediate and a day to day reality for the school there are a number of other issues on the horizon that could also have a large impact on the school and the whole SEND school sector. These include the Green Paper published in early 2023, Local Authority attitudes to Post 16 Education and the continuing financial pressure on Local Authorities. 

Monitoring and planning for these is part of the school risk management approach. 

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MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 


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## 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 schoo! has the equivalent of 94 full time staff (2022 — 94) in teaching, care, administrative and ancillary positions and an exit level of 94 FTE (125 headcount). 

## ACTIVITIES FOR THE YEAR 

At the start of the 2022-23 year we had three main areas of focus for investment in the school 

1. Completion and successful opening of the second infant class building. This has been successfully completed with not only the two classrooms and hall originally planned but a state of the art playground specifically designed to meet the needs of our boys. Occupation of the classes has grown throughout the year and we expect to reach capacity during 2023-24. 

2. Establishment of a broader and more varied offering for Post 16 young men in the school. This project was broken down into phases and the conversion of old and un-needed Post 16 accommodation rooms into new classrooms has been complete. These now house a Careers office, music recording studio and E Sports classroom all of which have been hugely popular with the pupils. 

3. Finally, we said we would replace the roof the roof on the converted Post 16 block for safety and environmental reasons. Not only was this complete on the Post 16 block but also on the Art Centre. 

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## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 pu i 


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## OBJECTIVES FOR THE COMING YEAR 

Financial pressures are increasing on the school and there are more and more challenges in passing on the increased costs of staff and the materials and services needed to run the school onto the Local Authorities. All Local Authorities have expressed the same challenge in passing on costs and we work hard on cost savings and efficiencies on a continuous basis to minimise fee increases. 

Despite all our efforts the past year we have not been able to increase reserves at the rate required to maintain our reserve ratio. In line with Policy the Governors have therefore agreed to a reduced capital programme around the school and, in particular items already reserved but outside of Free Reserves, to be reviewed to ensure we return to the level of comfort on reserves we have enjoyed for the past few years. 


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Looking ahead to 2023-24 the main activities and priorities of the school are therefore far less focussed on the physical infrastructure of the school but much more on the good practice within the school. 

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## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 

## 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. 


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The trustees are adding a report on the school’s impact on the Environment. Over the coming years it is planned to grow this section of the report as Environmental impacts become a more and more critical and integrated part of the strategy of the school. 

The school was awarded the Eco-Schools Green Flag award in July 2023 in recognition of the work our pupils are involved with and the Eco Committee now established in school to put in place an eco action plan. 

For 2022-23 reporting is being added to show the most basic carbon footprint of the school with a retrospective calculation for 2021-22 as a comparator. Both periods are reported for 12 month periods covering September — August for alignment with the schools new Financial year. Information is currently available for school vehicle petrol and diesel (Scope 1) and purchased gas and electricity (scope 2) usage only. 


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|---|---|---|---|---|---|---|---|---|---|---|
|Utility|CO2|output|(kg)|ept|21 — Aug|22|ept|22|— Aug|23|
|OTAL|113,580|101,067|
|Intensity CO2kg/Boy|1,102.7|902.4|

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The school did not change Fuel policy between 2021-22 and 2022-23. However, winter was an average 1.7 degrees warmer in 2022-23 than 2021-22 according to the Met Office analysis for South East England. 

## 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 Schoo! 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. 

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## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 i 

Acondition of the grant we received from the Constable Education Trust in 2021-22 was for the introduction of an out-reach programme of Counselling and Therapy to local schools. This is now up and running and has been hugely successful in helping young people from schools in our local community. The scheme is now being extended from secondary schools to primary schools also. 


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## 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 parties. 

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 money from The Wooden Spoon for equipment in the Food Tech classroom. 

There were 112 boys on roll at the end of the financial year (compared to 103 the prior year) with further expansion in the Infant provision with the addition of the second classroom building. 

The financial results for the year show a net surplus (before pension revaluation) of £363k (£423k 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. 

The school surplus has reduced for the last three years reflecting the increasing pressure on the school to offset inflationary input costs with fee increases from local authorities. As a like for like comparator the reported surplus falls to £256k on a pro-rata 12 month basis. 

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MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE PERIOD ENDED 31 AUGUST 2023 

## 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 schoot’s liabilities with the exception of LGPS exit 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 £159,345, a net of £1,457,655 which is held in the subsidiary charity Muntham House School Trust (charity number 115085-1) 

Designated reserves of £290,000 set aside for the investment in Post 16 facility improvements (£260,000) and historical legal cases (£30,000). 

## Restricted reserves stood at £29,771 made up of un-spent Pupil Premium grants carried over the year end. 

Unrestricted reserves (calculated before pension deficit) rose to £2,652,377 (£2,459,953 in prior year) of which £2,470,332 is attributable to the school and £182,045 to the Muntham House School Trust. This represents 79% of the maximum reserves and 106% 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. 

## 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: 


**----- Start of picture text -----**<br>
Signed<br>**----- End of picture text -----**<br>


J Knightley, Governor 


**----- Start of picture text -----**<br>
Signed<br>**----- End of picture text -----**<br>


M Kipling, Governor 

16 



eeeee 

## 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 period 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 period. 

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. 

igi ==" 

17 



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

## Opinion 

We have audited the financial statements of Muntham House School for the period ended 31 August 2023 on pages 22 to 39. 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 group and charitable company’s affairs as at 31 August 2023 and of its incoming resources and application of resources, including its income and expenditure, for the period then ended; 

- e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- e 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 group or 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 director with respect to going concern are described in the relevant sections of this report. 

## 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. lf, 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. 

## gg i 18 



## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 AUGUST 2023 a a 

## Opinions on other matters prescribed by the Companies Act 2006 

- In our opinion, based on the work undertaken in the course of the audit: 

- e — the information given in the governors’ report (incorporating the strategic report and the governor’ report) for the financial period 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: 

- e adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- e 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 contro! 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. 

19 



MUNTHAM HOUSE SCHOOL
(LIMITED BY GUARANTEE)
CONSOLIDATED STATEMENT OF FINANCIALACTIVITIES
FOR THE PERIOD ENDED 31 AUGUST2023
AudIt0￿$ r•sponslbllltles for the audlt of the flnanclal ststemènts
Our objectlves are to obtain pa50nable 888urance abcwt whether the financial stslements as ? wholè are free from
material misstatement, whether due to fraud or error, and lo issue an auditorfs rèport that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit ¢onductéd in accordance wth
ISAS (UK) will always detect a material misstatement when il e￿Sts. Mi551alements 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 basi$ of these financial ststements.
Irregularities, i￿ludIng fraud, are instsnces of non<ompliance wth laws and regulations. Th6 extent to ￿kn1¢h our
procedures are capable of detecting irregularities, including fraud, is detailed below.
A further description of our responsibilities for the audit of the finanrAa5 statements is Ir￿ated on the Financial RepDrting
Council's website at.. https'.IfvA•rni.frc.org.ukJOur-WorklAudiVAudit-an&a55urancelStsndards-and4uidancelStand8rds-
and-guidance-for-audilorslAudilorS•respor15ibiltties-for-auditlDescripb"on-of-auditors-r&srM)nsibilities-for-audit.aspx. This
description fomis part of our audrtorfs report.
Extenl to whlch the audit was consldered capable of detectlng Irregularities, including fraud
Th8 objectives of our audit, in respect to fraud, 8re'. to Identfy and assess the rlsks of material misst*&ment of the
financial statements due to fraud,. to obtain sufficient appropriate audit evidence regarding the assessed risks of material
misstatement due lo fraud. through designing and implementing appropriate re$ponsès', and to respond appropriately to
fraud or suspected fraud Identified during the audit. However, the primary responsibility for the prevention and dètection
of fraud rests wth both those charged wth governance of the entity and its management.
Our approach was as follows..
We identified areas of laws and reguiAtion$ that could reasonably be expected to have a material effect on the
financial 5tatement5 from our general Commercial and sector exp8rience, and through discussion wth the
directors and other management {as required by auditing standards), and discussed with the d1￿clOr$ and other
manag8m8nl the policies and procedures regarding compliance with laws arKI regulation8,'
We identified thè foll￿ng areas as th05e trost likely lo have such an efféct.. health and safety., General Data
Protection Regulation (GDPRI., fraud,. bribery and comjption and employment law. Auditing standards limit the
required audit procedures lo identsfy non-compliance with these laws and regulations lo enquiry of the trustees
and other management and inspection of regulatory and legal correspondènce, if any.
W& considered the legal and regulatory framewot*s directSy applicable to the flnancial statements reporting
framework IFRS 102 8nd the Companies Ad 2006 and the Charities Act 2011) and the relevant tax compliance
regulations in the UK.,
W8 considered the nature of the Company'sleharit￿s operations, the control envircsnment and business
perfomance, including th8 k8y drivers for mar￿geMent'S remuneratiort.,
We communicated identified laws and regUla￿On$ throughout our team and remained alert lo any indications of
non<ompliance throughout the auditr,
We considered th8 procedures and controls that the companyleharrity has eslablish8d io address risks identffied,
or that otheTwse prevent. deter and detael fral￿.. and how sanior management monitors those progfammes and
ontrols.
20

## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 AUGUST 2023 

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 group or 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. 

## ee ce 

Mark Cummins FCCA (Senior Statutory Auditor) for and on behalf of TC Group 

Statutory Auditors 

Office: Steyning, West Sussex 

## Dated: @ by Monk Lo 4 Uf 

21 



## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES 

## FOR THE PERIOD ENDED 31 AUGUST 2023 

|||||||(17 months)|(12 months)|
|---|---|---|---|---|---|---|---|
|||Unrestricted|Designated|Restricted|Endowment|Total|Total|
|||funds|funds|funds|funds|2023|2022|
|||£|£|£|£|£|£|
||Notes|||||||
|Income from:||||||||
|Donations|6|6,959|-|41,656|-|48,615|147,826|
|Investmentincome|Zz|33,563|-|-|-|33,563|1,010|
|Charitable activities|8|8,817,598|-|568,162|-|9,385,760|6,157,516|
|Total income||8,858,120|-|609,818|-|9,467,938|6,306,352|
|Expenditure on:||||||||
|Charitable activities||8,493,297|-|594,658|16,500|9,104,455|5,883,305|
|Total expenditure|9|8,493,297|:|594,658|16,500|9,104,455|5,883,305|
|Net Surplus||364,823|-|15,160|(16,500)|363,483|423,047|
|Gross transfer between funds|18/20|400,756|(405,000)|4,244|-|-|=|
|Gain/(loss)on defined benefit<br>pension schemes|47|238.000<br>:||7|7|238.000<br>,|319.000<br>,|
|Netmovement infunds||4,003,579|(405,000)|19,404|(16,500)|601,483|742,047|
|Fund balances at 1 April 2022||4,621,379|695,000|10,367|1,474,155|6,800,901|6,058,854|
|Ege eeayeMaes||5,624,958|290,000|29,771|1,457,655|—«7,402,384|~—«6800,901|
|Surplusattributabletoschool||||||617,983|758,547|



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. 

For comparative purposes 2023 is a 17 month period and 2022 is a 12 month period. 

a2. 



## MUNTHAM HOUSE SCHOOL 

## (LIMITED BY GUARANTEE) SUMMARY INCOME AND EXPENDITURE ACCOUNT 

## FOR THE PERIOD ENDED 31 AUGUST 2023 


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|See|
|(17|months)|(12|months)|
|2023|2022|
|£|£|
|Gross|income|9,467,938|6,306,352|
|Total|expenditure|from|income|funds|(8,849,955)|(5,547,805)|
|Net|income|for the|period|/ year|617,983|758,547|

**----- End of picture text -----**<br>


The summary income and expenditure account is derived from the statement of financial activities on page 19 which, together with the notes on pages 27 to 39, provides full information on the movements during the period on all funds of the charity. 

eee 23 



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

## AS AT 31 AUGUST 2023 

|a|a|a|a|a|a|a|a|
|---|---|---|---|---|---|---|---|
||||||31 August||31 March|
||||Notes|£|2023<br>£|£|2022<br>c|
|Fixed assets||||||||
|Tangible assets|||12||4,430,236||3,873,581|
|Investments|||13||1,000,000||-|
||||||5,430,236||3,873,581|
|Current assets||||||||
|Stocks||||7,476||5,247||
|Debtors|||14|195,727||267,356||
|Cash atbank and in hand||||2,470,004||3,334,949||
|||||2,673,207||3,607,552||
|Creditors: amounts|fallingduewithinoneyear||=15|(701,059)||(442,232)||
|Netcurrentassets|||||1,972,148||3,165,320|
|Total assets less current liabilities|||||7,402,384||7,038,901|
|Defined benefitpensionscheme liability|||17||.||(238,000)|
|Total netassets|||||7,402,384||6,800,901|
|Capital funds||||||||
|Endowmentfunds|||19||1,457,655||1,474,155|
|Income funds||||||||
|Restricted funds|||18|29,771||10,367||
|Unrestricted funds:||||||||
|Designated funds|||20|290,000||695,000||
|Revaluation reserve (Property)|||20|182,045||185,695||
|Other charitablefunds|||20|5,442,913||4,435,684||
||||||||5,326,746|
||||||7,402,384||6,800,901|
|The accounts were approved by the Board on|||“T-2-|Cig||||
|JKnightley|~|M Kipling|||Company|Registration|No. 05063879|



a 24 



MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) SCHOOL BALANCE SHEET 

## AS AT 31 AUGUST 2023 

|a|a|a|a|a|a|
|---|---|---|---|---|---|
||||31 August||31 March|
||Notes|£|2023<br>£|¢|2022<br>¢|
|Fixed assets||||||
|Tangible assets|12||2,972,581||2,399,426|
|Investments|13||1,000,000||-|
||||3,972,581||2,399,426|
|Current assets||||||
|Stocks||7,476||5,247||
|Debtors|14|195,727||267,356||
|Cash atbankand in hand||2,470,004||3,334,949||
|||2,673,207||3,607,522||
|Creditors: amounts falling duewithin oneyear|15|(701,059)||(422 232)||
|Netcurrentassets|||1,972,148||3,165,320|
|Total assets less current liabilities|||§,944,729||5,564,746|
|Defined benefitpensionscheme liability|17||-||(238,000)|
|Total netassets|||5,944,729||5,326,746|
|Incomefunds||||||
|Restricted funds|18||29,771||10,367|
|Unrestricted funds:|20|||||
|Designated funds|||290,000||695,000|
|Other charitable funds|||5,624,958||4,621,379|
||||5,944,729||5,326,746|



The accounts were approved by the Board on “7. 7. Tk 

J Th Kngiate, Knightley 

M Kipling 

“ 7) | 

Company Registration No. 05063879 

25 



## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) CONSOLIDATED CASH FLOW STATEMENT FOR THE PERIOD ENDED 31 AUGUST 2023 

||||31 August||31 March|
|---|---|---|---|---|---|
||||2023||2022|
||Notes|£|3|£|£|
|Cash flows from operating activities||||||
|Netincome forthe period||617,983||758,547||
|Adjustments for:||||||
|Transferfrom endowmentfund||(16,500)||(16,500)||
|Depreciation oftangible fixed assets|12|297,730||205,553||
|Transfers within fixed assets||-||61,742||
|Investment income||(33,563)||(1,010)||
|(Increase)/decrease in stocks||(2,229)||124||
|Decrease/(increase) in debtors|14|71,629||(91,410)||
|Increase in creditors|15|258,827||155,599||
|(Decrease) in provisions— (Pension<br>liability)||(238,000)||(319,000)||
||||955,877||753,645|
|Cash flows from investing activities:||||||
|Investmentincome|7|33,563||4,010||
|Purchase ofinvestments|13|(1,000,000)||-||
|Purchase oftangible fixed assets|12|{854,385)||(772,573)||
|Netcashprovidedby/(usedin)<br>investingactivities|||(1,820,822)||(C71.568)|
|Change in cash and cash equivalents<br>intheperiod /year|||(864,945)||ae|
|Cash and cash equivalents atthe<br>beginningoftheperiod /year|||Siecamee||3,352,867|
|Cash and cash equivalents atthe end<br>ofthe period /year|||2,470,004||acne|
|Analysis of cashand cash equivalents||||||
||At 1|April|Cash flow|Non-cash|At 31 August|
|||2022||changes|2023|
|||£|£|£|£|
|Cash at bankand in hand|3,334,949||(864,946)|-|2,470,004|
||3,334,949||(864,946)|-|2,470,004|



26 



## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2023 

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 freland (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. 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 period 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. 

27 



## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2023 

## 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: 

|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|Between7.5%and33.33%straightlineMotorvehicles33.33%straightline|



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 period 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 Financia! Activities. 

2.6 Leasing and hire purchase commitments Rentals payable under operating leases are charged against income ona 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 period 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 period 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. 

28 



## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2023 

SSSee ee 

- 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. 

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. 

## eee 

29 



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

## FOR THE PERIOD ENDED 31 AUGUST 2023 

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

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


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|This|is|stated|after|charging:|2023|2022|
|£|£|
|Operating|leases — equipment|3,684|650|
|Depreciation|297,730|205,553|
|Auditors|remuneration|(group):|
|Audit fees —|charity|12,500|11,000|
|Stock expensed|2,229|(124)|

**----- End of picture text -----**<br>


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 


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|Unrestricted|Restricted|
|funds|funds|Tota!|2023|Total|2022|
|£|£|£|£|
|Donations|and|gifts|6,959|41,656|48,615|147,826|
|Donations|and|gifts|
|Unrestricted|funds:|
|Donations|and|gifts|6,959|2,024|
|Restricted|funds:|
|William|Belmer|Rush|Foundation|24,778|24,778|
|Wooden|Spoon|16,500|-|
|Salix|-|1,668|
|Constable|Education|~|100,000|
|Variety|Club|-|16,638|
|DofE|-|3,000|
|Other|378|-|
|41,656|145,802|
|from|investments|
|2023|2022|
|£|£|
|Interest|receivable|33,563|1,010|

**----- End of picture text -----**<br>


- 7 Income from investments 

30 



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

## FOR THE PERIOD ENDED 31 AUGUST 2023 

## ii ts is 8 Income from charitable activities 

||2023|2022|
|---|---|---|
||£|£|
|Main school fees|7,876,665|4,897,181|
|EEU fees|1,073,033|732,924|
|County Assistance— restricted income|410,960|440,150|
|Less bursaries|(65,695)|(10,248)|
|Netschoolfees|9,294,963|6,060,007|
|Bursariesand awards from restricted funds|65,695|10,248|
|Rental income|15,098|13,132|
|Other income|10,004|74,129|
||9,385,760|6,157,516|



## 9 Expenditure 

||Staffcosts|Depreciation|Othercosts|Total 2023|Total 2022|
|---|---|---|---|---|---|
||£|£|£|£|£|
|Charitable activities||||||
|Education||||||
|Education costs|4,640,736|122,604|676,143|5,469,483|3,235,283|
|Care costs|851,489|-|154,765|1,006,254|638,034|
|Premises costs|353,831|145,786|757,587|1,257,204|1,142,500|
|Supportcosts|623,440|26,640|709,305|1,359,385|857,240|
|Bursaries from restricted funds|-|-|42,129|42,129|10,248|
||6,469,496|295,030|2,339,929|9,104,455|5,883,305|
|Total Expenditure|6,469,496|295,030|2,339,929|9,104,455|5,883,305|
|Analysis ofsupport costs (including|Governance|costs)||2023|2022|
|||||£|Ee|
|Wagesand salaries||||623,440|458,383|
|Legal and professional||||203,947|161,936|
|General office and administration||||442,576|165,646|
|Vehicle and travel||||73,762|55,915|
|Governance costs:||||||
|Auditfees||||15,660|15,360|
|||||1,359,385|857,240|



## 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. 

## gi 

31 



MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2023 

## 11 Employees 

## Number of employees 

The average monthly headcount was 115 staff (2022: 107 staff) and the average monthly number of full time equivalent employees during the period was: 

||2023|2022|
|---|---|---|
||Number|Number|
|Teaching and other staff|94|96|
|Employmentcosts|2023|2022|
||£|£|
|Wages and salaries|5,188,365|3,208,236|
|Social securitycosts|478,110|272,903|
|Pension costs|811,278|537,187|
||6,477,753|4,018,326|
|Staffearning in excess of£60,000 perannum in the following bands are:|||
||2023|2022|
||Number|Number|
|£70,000 -£79,999|1|1|
|£120,000-£129,999|1|1|



Of the employees whose emoluments exceed £60,000, 2 (2022: 2) have retirement benefits accruing under defined benefit pension schemes. Pension contributions for higher paid employees in the period amounted to £46,007 (2022: £41,490). The employment costs for the above disclosure have been prorated to a 12 month period. 

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

The total employee benefits of the key management personnel were £537,012 (2022: £340,347). The increase is mainly due to the extended accounting period (17 months v 12 months in 2022). 

32 



## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2023 

## gs 

|12|Tangible fixed assets|||||
|---|---|---|---|---|---|
|||Land and<br>buildings|Plantand<br>machinery|Fixtures, fittings<br>&equipment|Total|
|||£|£|E:|£|
||Cost|||||
||At 1 April 2022|3,996,511|437,508|675,005|5,109,624|
||Additions|689,925|142,769|21,691|854,385|
||Disposals|-|(1,000)|-|(1,000)|
||At 31 August2023|4,686,436|579,277|696,696|5,962,409|
||Depreciation|||||
||At 1 April 2021|617,059|184,856|433,528|1,235,443|
||Charge forthe period|145,786|75,761|76,183|297,730|
||Disposals|-|(1,000)|-|(1,000)|
||At31 August2023|762,845|259,617|509,711|1,532,173|
||Net book value<br>At 31 August2023|3,923,591|319,660|186,985|4,430,236|
||At 31 March 2022|3,749,452|252,652|241,447|3,873,581|
||School tangible fixed assets|||||
|||£|£|£|£.|
||Groupassets at31 August 2023|3,923,591|319,660|186,985|4,430,236|
||Less Endowmentfunds|(1,457,655)|-|-|(1,457,655)|
||Schoolassetsat31August2023|2,465,936|319,660|186,985|2,972,581|



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

The endowment funds consist of Land and Buildings of £1,650,000 less depreciation of £192,345 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. 

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

||||2023|2022|
|---|---|---|---|---|
||||£|£|
|Cost|||1,285,000|1,285,000|
|Aggregate depreciation|||311,285|301,450|
|Value ofland in freehold land and buildings|||330,000|330,000|
|13 Investments|Consolidated||School||
||2023|2022|2023|2022|
||£|£|£|£|
|Giltinvestments|1,000,000|-|1,000,000|-|
||1,000,000|-|1,000,000|-|
|ga<br>sre<br>ne<br>ye|||||



33 



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

## FOR THE PERIOD ENDED 31 AUGUST 2023 

|14|Debtors|Consolidated||School||
|---|---|---|---|---|---|
|||2023|2022|2023|2022|
|||£|£|£|=|
||Trade debtors|128,672|41,794|128,672|41,794|
||Other debtors|4,057|410|4,057|410|
||Prepayments and accrued income|62,998|225,152|62,998|225,152|
|||195,727|267,356|195,727|267,356|
|15|Creditors: amounts falling due within one|||||
||year|||||
|||Consolidated||School||
|||2023|2022|2023|2022|
|||£|£|£|£|
||Trade creditors|112,500|193,643|112,500|193,643|
||Fees in advance and deferred income|325,731|74,348|325,731|74,348|
||Other creditors|98,454|114,327|98,454|114,327|
||Taxes and social security costs|87,096|-|87,096|-|
||Accruals and deferred income|77,278|59,914|77,278|59,914|
|||701,059|442,232|701,059|442,232|
||Fees in advance and deferred income|||||
||Deferred income comprises monies received forthe provision ofservices afterthe period end.|||||
||||||£|
||Balance as at 1 April2022||||74,349|
||Amount released to income earned from charitable activities||||(74,349)|
||Amount deferred in period||||325,731|
||Balance as at31 August2023||||325,731|
||Made up as follows:|||||
||Fees in advance||||325,731|
||Deferred income||||e|
||Balanceasat31August2023||||325,731|



34 



## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2023 ee 

## 16 Teachers’ Pension Scheme 

The School participates in the Teachers’ Pension Scheme (“the TPS’) for its teaching staff. The pension charge for the period includes contributions payable to the TPS of £391,118 (2022: £222,462) and at the period-end £nil (2022 - Enil) 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. 

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 Apri] 2015 onwards. The pause was lifted in July 2020, and following a public consultation in 2021 the Government have accepted three key proposals recommended by the Government Actuary, and are aiming to implement these changes in time for the 2020 valuations. 

The 2016 cost contro! valuations were completed in January 2022, and the results indicated that there would be no changes to benefits or member contributions required. The results of the cost cap valuation are not used to set the employer contribution rate, and HM Treasury has indicated that any changes to the employer contribution rate resulting from the 2020 valuations will take effect in April 2024. 

Until the 2020 valuation is 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. 

## 17 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 period ended 31 August 2023 was £412,000 (year end 31 March 2022: £317,000). The agreed contribution rates for the period ended 31 August 2023 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 August 2023 by qualified independent actuaries for the entire West Sussex Council Pension Fund. 


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er a ee DO<br>35<br>**----- End of picture text -----**<br>




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

## FOR THE PERIOD ENDED 31 AUGUST 2023 

## 17 Local Government Pension Scheme (continued) 

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

||2023|2022|
|---|---|---|
||%|%|
|Discountrate at31 August(2022: 31 March)|5.20|2.75|
|Rateofincrease inpensionspayment|3.00|3.18|
|Rateofincreaseinsalaries|4.50|3.65|



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 2023 is 22 years. The life expectancy of a female member reaching age 65 in 2023 is projected to be 226 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: 

||2023|2022|
|---|---|---|
||%|%|
|Equities|53|50|
|Bonds|31|34|
|Property|14|18|
|Cash|2|u|



Changes in the Fair Value of Plan Assets, Defined Benefit Obligation and Net Asset / (Liability) for period-end 31 August 2023: 

||2023|2022|
|---|---|---|
||£'000|£'000|
|Fairvalue ofEmployerAssets|11,708|11,472|
|PresentValue of Funded Liabilities|(7,341)|(11,710)|
|Surplus/(Deficit)|4,367|(238)|



rens 

36 



MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2023 

## gg=" 18 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: 

|||Movement|in funds||
|---|---|---|---|---|
||Balance at 1<br>:<br>April 2022|Income|:<br>Expenditure<br>anetraneterd|Balance at 31<br>August2023|
||£|£|£|£|
|William BelmerRush Foundation<br>Wooden Spoon<br>Otherrestricted donations|-<br>-<br>-|24,778<br>16,500<br>378|(24,778)<br>(16,500)<br>(378)|-<br>-<br>°|
|CountyAssistance|:|410,960|(410,960)|-|
|16to 19 Bursary Release<br>PEPremium|-<br>-|65,695<br>38,576|(42,129)<br>(32,371)|23,566<br>6,205|
|Pupil Premium|10,367|52,931|(63,298)|“|
||10,367|609,818|(590,414)|29,771|



## William Belmer Rush Foundation 

This is a capital grant received from the foundation. 

## Wooden Spoon 

Donation received from the Wooden Spoon charity for electric equipment and white goods in new Food Tech Centre. 

## Other restricted donations 

Donation for utensils to be used in the Food Tech Centre. 

## 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. 

19 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; 

## Movement in funds 

||Balance at 1||||Balance at 31|
|---|---|---|---|---|---|
||April 2022|Income|Expenditure|Transfers|August2023|
||£|£|£|£|£|
|Permanent Endowments||||||
|Land and buildings|1,474,155|-|(16,500)|-|1,457,655|
||1,474,155|-|(16,500)|-|1,457,655|



The endowment fund consists of land and buildings of £1,650,000 less depreciation of £192,345 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 period depreciation of the buildings amounted to ———a£16,500 (2022: £16,500). ee 

37 



## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2023 

## 20 Unrestricted funds 

The unrestricted funds of the charity include the following: 

|||Movement|in funds|||
|---|---|---|---|---|---|
||Balance at 1<br>April 2022|Income|Expenditure<br>(Net of|Transfers|Balance at 31<br>August2023|
||||pension gain)|||
||£|£|£|£|£|
|General reserves|4,435,684|8,858,120|(8,255,297)|404,406|§,442,913|
|Designated funds|695,000|-|-|(405,000)|290,000|
|Fairvalue reserve|185,695|-|-|(3,650)|182,045|
||5,316,379|8,857,647|(8,254,824)|(4,244)|5,914,958|



The Designated funds are in respect of the Infant class of £nil (2022: £405,000) for the rolling fixed asset replacement and maintenance programme), funds for a Post 16 class of £260,000 (2022: £260,000) and £30,000 (2022:£30,000) in relation to historical abuse claims. 

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

## 22 Commitments under operating leases 

At 31 August 2023 the school had total commitments payable under non-cancellable operating leases as follows: 

||||2023|2022|
|---|---|---|---|---|
||||£|£|
|Within|one|year|867|2,600|
|Withintwo|two|to five years|-|1,951|
||||867|4,551|



- 23 Analysis of net assets between funds Fund balances at 31 August 2023 are represented by: 

||Restricted<br>funds|Designated<br>funds|Endowment<br>Fund|Unrestricted<br>funds|2023<br>Total|
|---|---|---|---|---|---|
||£|£|E|£|£|
|Tangible fixed assets|-|-|1,457,655|3,972,581|5,430,236|
|Current assets|29,771|290,000|-|2,353,436|2,673,207|
|Creditors: amounts falling|-|-|-|(701,059)|(701,059)|
|due within one year||||||
||29,771|290,000|1,457,655|5,624,958|7,402,384|



38 



## MUNTHAM HOUSE SCHOOL (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2023 

23 + Analysis of net assets between funds (continued) Fund balances at 31 March 2022 are represented by: 

||Restricted|Designated|Endowment|Unrestricted|2022|
|---|---|---|---|---|---|
||funds|funds|Fund|funds|Total|
||£|£|£|£|£|
|Tangible fixed assets|-|-|1,474,155|2,399,426|3,873,581|
|Current assets|10,367|695,000|-|2,902,185|3,607,552|
|Creditors: amounts falling<br>due within one year|-|-|=|(442,232)|(442,232)|
|Pension Liability|=|-|-|(238,000)|(238,000)|
||10,367|695,000|1,474,155|4,621,379|6,800,901|



## 24 ~ Related parties 

During the year J Knightley (Trustee during the period) was a Trustee of the William Belmer Rush Foundation. The Foundation awarded a grant of £24,778 to the school in the 2023 (2022: £24,778). 

## 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. 

## 26 Statement of financial activities comparative funds — year ended 31 March 2022 

|||Unrestricted<br>funds|Designated<br>funds|Restricted<br>funds|Endowment<br>funds|Total<br>2022|
|---|---|---|---|---|---|---|
|||ES|£|£|£|£|
|Income from:|||||||
|Donations||2,024|-|145,802|-|147,826|
|Investment income||1,010|-|-|-|1,010|
|Charitable activities||5,630,410|-|527,106|-|6,157,516|
|Total income||5,633,444|-|672,908|-|6,306,352|
|Expenditure on:|||||||
|Charitable activities||5,314,870|-|551,935|16,500|5,883,305|
|Total expenditure||5,314,870|-|551,935|16,500|§,883,305|
|Net Income/(expenditure)||318,574|-|120,973|(16,500)|423,047|
|Gross transfer between funds||446,638|(230,000)|(216,638)|-|-|
|Profit on defined benefit pension<br>échemes||319,000|-|-|-|319,000|
|Netmovement infunds||4,084,212|(230,000)|(95,665)|(16,500)|742,047|
|Fund balances at 1 April 2021||3,537,167|925,000|106,032|1,490,655|6,058,854|
|eeeaeeee|=|BS|695,000|10,367|4,474,155|6,800,901|
|Surplusattributabletoschool||||||758,547|



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. 

39