2022-08-31-accounts - Caterham School

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			PAGE
Report ofthe Trustees			4-17
Report ofthe independent	auditor		18-21
Statement offinancial activities incorporating		income and expenditure	22
account
Balance sheet			23
Cash flow statement			24
Principal accountinS policies			25r27
Notes to the financial statements			28-46

on. T	he t	able below shows the	energy usage and emis	sions from gas
			2022	2021
Ener	use in kWh		5,332,299	5,581,475
Emissions		in tonnes CO2e	1,024	1,102

							Total	Total
				Unrestricted	Restricted	Endowment	Funds	Funds
Income and Endowments			Note	Funds	Funds	Funds	2022	2021
				8'000	8'000	6'000	6'000	5'000
INCOME FROM:								restated
Charitable Activities
School fees				23,963			23,963	22,588
Other educational income				1,689			1,689	1,071
Other trading activities
Other trading income				1,058			1,058	591
Investments
Investment income					172		174	121
Donations and legacies
Grants and donations				119	527			998
Total Income				26,831	699		27,530	25,369
EXPENDITURE ON:
Raising funds
Trading expenditure				647			647	158
Investment management	costs				27		27	25
Total non-educational	costs			647	27		674	183
Charitable activities
Education				24,525	16	23	24,564	22,223
Total expenditure			6 - 8	25,172	43	23	25,238	22,406
Net income				1,659	656	(23)	2,292	2,963
Net gains/(losses) on investments					(341)		(341)	782
Transfers between funds			18.1/2	393	~333	30
Net incoming resources	before other			1,952	(8)	7	1,951	3,745
recognised gains and losses
Change in value ofhedging		instrument		4,009			4,009	932
Net movement in funds	for the year			5,961	(8)	7	5,960	4,677
Fund balance at 1 September 2021				18,875	5,172	1,797	25,844	21,167
Fund balances at 31August 2022			18	24,836	5,164	1,804	31,804	25,844

			Group		School
			2022	2021	2022	2021
		Note	6'000	F'000	6'000	F'000
				restated		restated
FIXEDASSETS
Tangible assets		9	37,743	37,401	37,743	37,401
Investment property		10	1,020	1,020	1,020	1,020
Investments		11	4,179	4,512	4,179	4,512
			42,942	42,933	42,942	42,933
CURRENT ASSETS
Stock		12	114	95
Debtors		13	678	591	913	771
Cash and short term	deposits		15,653	13,370	15,540	13,245
			16,445	14,056	16,453	14,016
CURRENT LIABILITIES
Creditors due within	one year	14	(7,322)	(6,417)	(7,361)	(6,454)
NET CURRENT ASSETS/LIAIBILITIES			9,123	7,639	9,092	7,562
TOTAL ASSETSLESSCURRENT
LIABILITIES			52,065	50,572	52,034	50,495
LONG TERM LIABILITIES
Fee deposits		15	(2,817)	(2,468)	(2,817)	(2,468)
Deferred income		15	(637)	(444)	(637)	(444)
Loans		15	(19,333)	(20,333)	(19,333)	(20,333)
Financial instrument	derivative-
hedging instruments		15	2,526	(1,483)	2,526	(1,483)
NET ASSETS			31,804	25,844	31,773	25,767
Capital Funds
Endowments		18.3	1,804	1,797	1,804	1,797
Income Funds
Restricted funds		18.1	5,164	5,172	5,164	5,172
Unrestricted funds:		18.2
Cash flow hedge	reserve		2,526	(1,483)	2,526	(1,483)
Other charitable	funds		22,310	20,358	22,279	20,281
TOTAL FUNDS		18	31,804	25,844	31,773	25,767

					Notes		2022	2021
						E'000	8'000	f.'000
NET CASH FLOWS FROM OPERATIONS
Net cash provided by operating		activities			19		5,228	4,486
CASH FLOWS FROM INVESTING			ACTIVITIES
Purchase offixed assets						(1,399)		(1,058)
Proceeds from disposal of	fixed	assets
Purchase of investments						(188)		(657)
Proceeds from sale ofinvestments						196		667
Return on investments						172		119
Interest received						2		2
Net cash used in investing	activities						(1,217)	(927)
CASH FLOWS FROM FINANCING			ACTIVITIES
Maddock transfer								99
Repayment of bank loan						(1,000)		(1,000)
Interest on loans						(728)		(770)
Net cash used in financing	activities						(1,728)	(1,671)
Change in cash and cash	equivalents			in the
reporting period							2,283	1,888
Cash and cash equivalents	at	the	beginning
ofthe reporting period							13,370	11,482
Cash and cash equivalents	at	the	end	ofthe
reporting period							15,653	13,370

					2022	2021
					Total	Total
					6'000	L'000
	The School's fee income comprised:
	Gross fees				26,126	24,814
	Less: Total bursaries,		assisted places and allowances		(2,163)	(2,226)
					23,963	22,588
	Other educational	income:
	Other fees and income				1,689	1,071
	Total				25,652	23,659
3	OTHER INCOME				2022	2021
					Total	Total
					f'000	8'000
	Other trading activities
	Rental and other commercial			income	1,058	591
4	INVESTMENT INCOME				2022	2021
					Total	Total
					6'000	f'000
	Listed Investments				172	119
	Interest received on bank deposits				2	2
					174	121

GRANTS	Unrestricted	Restricted	2022	2021
	Total	Total	Total	Total
	5'000	6'000	K'000	r'000
Donations	119	527		784
Grants				214
Total	119	527	646	998

		NO	TE	S TO	THE FINANCIAL STATEMENTS
STAFF COSTS						2022	2021
						000	E'000
Total staff costs comprised:
Wages and salaries						11,879	11,067
Social security costs						1,291	1,134
Pension contdibutions						2,054	1,923
						15,224	14,124
The average number		ofemployees		during	the year were as follows:
						2022	2021
Teachers						140	137
Education	support					83	83
Premises	and services					47	49
Administration						63	53
Marketing	and admissions					9	10
Shop						4	3
						346	335
The emoluments of higher-paid			employees		fell within the following ranges:
						2022	2021
						No	No
Taxable emoluments		band:
E60,001 -	E70,000					18	17
E'70,001 -	E80,000					7	4
E80,001 -	E90,000					1	1
E90,001 -	F100,000					1	1
E120,001	- E130,000						1
E130,001	- E140,000
E180,001	- E190,000
E210,001	- E220,000

2022	2021
E'000	E'000
1,638	1,569

			Staff		Depreciation
			costs	Other	and	2022	2021
			(note 6)	costs	amortisation	Total	Total
			E'000	6'000	6'000	6'000	»000
Costs ofgenerating	funds
Trading expenses			395	252		647	158
Investment management		fees		27		27	25
			395	279		674	183
Charitab/e activities:
Education costs			11,912	2,297		14,209	12,712
Catering				1,995		1,995	1,443
Premises and services			1,335	2,499		3,834	3,403
Administration			1,132	651		1,783	1,948
Marketing			450	553		1,003	894
Bank interest payable				728		728	770
Bad debt provision				(80)		(80)	8
Depreciation and amortisation					1,057	1,057	1,015
Governance costs				35		35	30
Schools operating	costs		14,829	8,678	1,057	24,564	22,223
Total resources expended			15,224	8,957	1,057	25,238	22,406

			Staff		Depreciation
			casts	Other	and	2021	2020
			(note 6)	costs	amortisation	Total	Total
			f.'000	E'000	E'000	E'000	f'000
Costs ofgenerating	funds
Trading expenses			41	117		158	193
Investment management		fees		25		25	22
			41	142		183	215
Charitable activities:
Education costs			10,967	1,745		12,712	12,657
Catering			2	1,441		1,443	1,319
Premises and services			1,258	2,145		3,403	3,160
Administration			1,460	488		1,948	1,968
Marketing			396	498		894	828
Bank interest payable				770		770	803
Bad debt provision				8		8	(53)
Depreciation and amortisation					1,015	1,015	944
Governance costs				30		30	29
Schools operating costs			14,083	7,125	1,015	22,223	21,655
Total resources expended			14,124	7,267	1,015	22,406	21,870

Total resources expended	Total resources expended
		Group	Group	School	School
		2022	2021	2022	2021
Auditor's	remuneration	35	30	29	29
Depreciation:
-Tangible	fixed assets, owned	1,057	1,015	1,057	1,015
Operating	lease rentals	380	380	380	380

		Asset	Freehold	Fixtures
		under	land and	and	Computer	Motor
		construction	buildings	fittings	equipment	vehicles	Total
		K'000	f'000	6'000	6'000	R'000	6'000
Cost
As at 1 September	2021		49,114	1,122	383	145	50,764
Additions in year		847	453	65	34		1,399
Disposals
As at 31August	2022	847	49,567	1,187	417	145	52,163
Depreciation
As at 1 September	2021		12,059	839	345	120	13,363
Charge for year			907	103	32	15	1,057
Disposals
As at 31August 2022			12,966	942	377	135	14,420
Net book amount
As at 31August 2022		847	36,601	245	40	10	37,743
Net book amount
As at 31August 2021			37,055	283	38	25	37,401

			2022	2021
			6'000	k'000
Investments comprise:
UK Fixed Interest			603	725
Overseas Fixed Interest			312	345
UK Equities			1,415	1,674
Overseas Equities			967	939
Global Investments			473	487
Property			76	103
Private Equity			167	98
Other Investments			127	118
			4,140	4,489
Short Term Deposits			39	23
Group Total Investments			4,179	4,512
			2022	2021
	Investments	Cash	Total	Total
	5'000	6'000	6'000	r'000
Market value:
Balance brought forward	4,489	23	4,512	3,563
Transfer in				453
Additions	188		188	657
Disposals	(196)		(196)	(667)
Other cash movements		16	16	(6)
Total gain/(loss)	(341)		(341)	512
Balance carried forward	4,140	39	4,179	4,512

If the investments	If the investments	had not been	had not been	would	have been	have been	included	the historical	cost basis	at the
following	amounts:
								2022		2021
UK Fixed Interest								702		703
Overseas Fixed Interest								345		344
UK Equities								904		1,075
Overseas Equities								580		581
Global	Investments							425		323
Property								52		52
Private	Equity							172		85
Other	Investments							111		111
								3,291	3,274
				Group			Group	School	School
				2022			2021	2022		2021
					f		f	f		f
Interest in	subsidiary undertakings							202		202
Total								202		202
At 31 August 2022, the School			held more than 20% ofthe fallowing				undertakings:
						Class ofshare		Proportion	Nature of
					capital		held	held	business
Caterham	School	Trading Limited				Ordinary f1		100%	School shop
Company	number	—02476019
Caterham	School	International	Limited			Ordinary f1		100%	Educational
Company	number	- 11897124
Caterham	School	EdTech Limited				Ordinary f1		100%	Educational
Company	number	- 13097923
Caterham	School	Enterprises	Limited	Limited		by Guarantee		100%	Dormant
Company	number	-04299687
Caterham	School	Virtual		Limited		by Guarantee		100%	Educational
Company	number	—14089222

AS AT 31AUGUST 202	2
		2022	2021
			restated
CURRENT ASSETS
Stock		113,807	95,661
Debtors
Cash at bank		101,017	113,712
		214,824	209,393
CREDITORS: Amounts	falling due within one year	(206,982)	(I66,161)
NET CURRENT ASSETS		7,842	21,232
TOTAL ASSETS LESS	CURRENT LIABILITIES	7,842	21,232
CREDITORS: Amounts	falling due in more than one year
NET LIABILITIES		7,842	21,232
CAPITAL AND RESERVES
Share capital		2	2
Profit and loss account		7,840	21,230
SHAREHOLDERS' FUNDS		7,842	40,057
PROFIT &LOSS ACCOUNT
		2022	2021
			f
			restated
TOTAL INCONIE		181,180	189,080
TOTAL EXPENDITURE		)173340)	~707, ,050)
NET PROFIT		7,840	21,230

AS AT 31AUGUST 202	2
		2022	2021
		f	6
CURRENT ASSETS
Debtors
Cash at bank		100	100
		100	100
CREDITORS: Amounts	falling due within one year	(2,552)	(12,072)
NET CURRENT ASSETS		(2,452)	(11,972)
TOTAL ASSETS LESS	CURRENT LIABILITIES	(2,452)	(11,972)
CREDITORS: Amounts	falling due in more than one year
NET LIABILITIES		(2,452)	(11,972)
CAPITAL AND RESERVES
Share capital		100	100
Profit and loss account		(2,552)	(12,072)
SHAREHOLDERS' FUNDS		(2,452)	(11,972)
PROFIT &LOSS ACCOUNT
		2022	2021
		E	f
TOTAL INCOME
TOTAL EXPENDITURE		9,520	(12,072)
NET (LOSS)/PROFIT		9,520	(12,072)

12	STOCK			N	OTES TO TH	E FINANCIAL S	TATEMENTS
						Group	Group	School	School
						2022	2021	2022	2021
						6'000	F'000	6'000	5'000
	Goods for resale					114	95
						114	95
13	DEBTORS
						Group	Group	School	School
						2022	2021	2022	2021
						000	r.'000	E'000	E'000
	Trade debtors					73	70	73	70
	Amount due from subsidiaries							235	180
	Other debtors					133	32	133	32
	Prepayments	and	accrued	income		472	489	472	489
						678	591	913	771
14	CREDITORS:	due	within	one year
						Group	Group	School	School
						2022	2021	2022	2021
						6'000	E'000	f.'000	f.'000
									restated
	Bank loan					1,000	1,000	1,000	1,000
	Fee deposits					434	556	434	556
	Deferred income					3,665	3,316	3,665	3,316
	Amount due to subsidiaries							62	62
	Trade creditors					848	574	1,456	558
	Social security	and	other taxation			427	14	11	14
	Other creditors	and	accruals			948	957	733	948
						7,322	6,417	7,361	8,454
15	CREDITORS:	due	after one year
						Group	Group	School	School
						2022	2021	2022	2021
						E'000	E'000	000	f.'000
	Fee deposits					2,817	2,468	2,817	2,468
	Deferred income					637	444	637	444
	Bank loan					19,333	20,333	19,333	20,333
	Financial instrument		derivative		- hedging
	instruments					(2,526)	1,483	(2,526)	1,483
						20,261	24,728	2D,261	24,728

									2022	2021
									5'000	5'000
Amounts	due	1 - 2 years:							1,000	1,000
Amounts	due	2 —5years:							3,000	3,000
Amounts	due	more than 5years:							15,333	16,333
									19,333	20,333
FEE DEPOSITS
At the end of		the year, the deposits			held on account were		split as follows:
									2022	2021
										restated
									5'000	L"000
Amounts	due	1 - 2 years:							573	483
Amounts	due	2 - 5years:							1,208	1,125
Amounts	due	more than 5years:							1,036	860
									2,817	2,468
FINANCIAL INSTRUMENTS
							Group	Group	School	School
							2022	2021	2022	2020
							5'000	F'000	F'000	F'000
Financial	assets measured		at	fair value
through	SOFA						5,199	4,512	5,199	4,512
Financial	assets measured		at	amortised		cost	15,859	13,472	15,981	13,527
Financial	liabilities measured			at amortised
cost							22,563	23,420	23,018	23,457
Financial	liabilities measured			at fair	value
through	a hedging service						(2,526)	1,483	(2,526)	1,483

					Restricted
			Unrestricted	Restricted	bursary	Endowment	Consolidating	2022
			funds	funds	funds	fund	adjustment	Total
			f'000	f'000	f'000	f'000	f'000	f'000
Tangible	fixed assets		36,861			882		37,743
Investment		property				1,020		1,020
Investments				3,265	914			4,179
Current	assets		15,558	906	79		(98)	16,445
Current	liabilities		(7,322)					(7,322)
Creditors: year		over one	(20,261)			(98)	98	~20,281)
Total net assets			24836	4 171	993	1,804		31,804
					Restricted
			Unrestricted	Restricted	bursary	Endowment	Consolidating	2021
			funds	funds	funds	fund	adjustment	Total
			f'000	f'000	f'000	f'000	f'000	f'000
Tangible	fixed assets		36,496			905		37,401
Investment		property				1,020		1,020
Investments				3,531	981			4,512
Current	assets		13,288	743	153		(128)	14,056
Current	liabilities		(6,859)	(2)				(6,861)
Creditors:		over one
year			(24,284)			(128)	128	(24,284)
Total net assets			18,641	4,272	1,134	1,797		25,844

		At 1					At 31
		September	Incoming			Gains/	August
		2021	resources	Expenditure	Transfer	(losses)	2022
		5'000	E'000	6'000	6'000	E'000	K'000
University scholarship		411	15	(2)	(33)	(30)	361
Scholarship and prizes		386	14	(2)	(31)	(28)	339
Major H Hall Morgan		266	10	(1)	(22)	(19)	234
Arthur D Jones		245	9	(1)	(20)	(18)	215
Industrial gifts and	music
scholarships		579	21	(3)	(47)	(42)	508
Other scholarship	funds
and donations			0
Mr S Bonarjee Legacy		272	10	(2)	(22)	(19)	239
Eynon Bequest		1,314	48	(7)	(107)	(94)	1,154
		3,473	127	(18)	(282)	(250)	3,050
Maddock Science
Scholarship Fund		559	15			(27)	547
CSTrust			203				203
Caterham School
Bursary Funds		1,071	171	(7)	(12)	(64)	1,159
Parents' Association		69	45	(15)	(2)		97
Old Caterhamians
Association			138	3)	27		108
Total restricted funds		5,172	699	(43)	(323)	(341)	5,164
		At 1					At 31
		September	Incoming			Gains/	August
		2020	resources	Expenditure	Transfer	(losses)	2021
		E'000	S'000	S'000	6'000	5'000	r.'000
University scholarship		361	10	(2)	(2)	44	411
Scholarship and prizes		360	8	(2)	(14)	34	386
Major H Hall Morgan		234	7	(1)	(7)	33	266
Arthur D Jones		216	7	(I)	(7)	30	245
Industrial gifts and	music
scholarships		510	16	(3)	(16)	72	579
Other scholarship	funds
and donations
Mr SBonarjee Legacy		240	7	(2)	(7)	34	272
Eynon Bequest		1,157	31	(7)	(5)	138	1,314
		3,078	86	(18)	(58)	385	3473
Maddock Science
Scholarship Fund			528	(2)		33	559
Caterham School
Bursary Funds		1,018	141	(6)	(176)	94	1,071
Parents' Association		63	41	(35)			69
Total restricted funds		4,159	796	(61)	(234)	512	5,172


ANALYSIS OF CHANGES	IN NET DEBT
		Asat1 September 2021	Cash flows	Other non- cash changes	As at 31 August 2022
		f.'000	K'000	E'000	8'000
Cash and cash equivalents
Cash		13,370	2,283		15,653
		13,370	2,283		15,653
Borrowings
Debt due within one year		(6,861)	(461)		(7,322)
Debt due after one year		(22,801)	14		(22,787)
		(29,662)	(447)		(30,109)
Total		(16,292)	1,836		(14,456)
		As at 1 September 2020	Cash flows	Other non- cash changes	As at 31 August 2021
		F'000	L"000	5'000	f'000
Cash and cash equivalents
Cash		11,482	1,888		13,370
		11,482	1,888		13,370
Borrowings
Debt due within one year Debt due after one year		(6,704) ~23,790	(157) 989		(6,861) ~22,0017
		(30,494)	832		(29,662)
Total		(19,012)	2,720		(16,292)

				2022	2021
				6'000	F'000
Gift Aid receivable	from Caterham		School Trading Limited		21
Balance owed by	Caterham	School	Enterprises Limited	17	17
Balance owed by	Caterham	School	Trading Limited	149	151
Balance owed by	Caterham	School	Ed-Tech Limited	13	12
Balance owed by	Caterham	School	Virtual	16
Balance owed to Caterham		School	International Limited	62	62

			2022	2021
			'Z'000	f.'000
Income			47	69
Expenditure			(20)	(67)
Net movement		in funds	27
			2022	2021
			f'000	F'000
Current assets				112
Liabilities				(4)
Net Assets				108
Unrestrcited	Funds			108