THE CHILDREN'S HOUSE SCHIXIL IA Charitable Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2021 Company Registered No. 5443050 Charity Registerèd No. 1113285
THE CHILDREN'S HOUSE SCHOOL TRUSTEES, ANNUAL REPORT YEAR ENDED 31st AUGUST 2021 The Trustees present their annual report for the year ended 31 Au8U51 2021 under the Companies Act 2006 and Charitie5 Act 2011, together with the audited financial statements for the year. REFERENCE & ADMINISTRATIVE INFORMATION Reglstered Offlcè and Prlnclpal Address 77, Elmore Streèt, London. Nl 3AQ. Trustees The Trustees of ihe Charity. whts are also the Drrectors of the Company. who served during the year and subsequently are: Brodie 8ibbv Dawn Brindle Danielle Dufey Farida El Gammal Emma Kin8stone Thomas Levifte Ruth Kermisch lane Maclean Appointed 8 September 2020 Chair Resigned 23 February 2021 Resi8ned 26 March 2021 Company Secretary.. Michelle Lester-swindell Key Management Personnel: Head Teacher Whole School Kate OranBe Assistant Head Upper School Taiba Hussain Acting A551Stant Head Upper School Julia Soper Head Teacher of Nursery School Salima Ke5havjee AsSlStant Head Nursery School Mihaela Zama Acting Assistant Head Nursery School Jess Collin5 School Adrninistrator Sue Garcin Appointed l January 2021 September 2020- December 2020 October 2020- February 2021 Imaternity coverl Professlonal Adv150rs Bankers Barclays Bank PIC Veale W35borou8h Vizards Haysmacintyre LLP 114 Fen¢hurch Street, Ltsndon EC3 3HY Narrow Quay House. Narrow Quay, Bristol, BSI 4QA 10 Queen Street Place, London EC4R IBE Auditor WÈbslte www.chil renshous h l.co.uk Registered Company Number 5443050 Registered Charlty Number 1113285
THE CHILDREN'S HOUSE SCHOOL TRUSTEES, ANNUAL REPORT (continued) YEAR ENDED 31" AUGUST 2021 STRUCTURE. GOVERNANCE AND MANAGEMEpir Constltutlon The Children'5 House School is a company limited by guarantee and a re8i5tered tharitv. Governlng Document The Company is governed by its Memorandum and Article5 of Association, filed at Companiès House on 4 May 2005. GovernSn8 Body The Directors of the Company. known collectively as the Council of Management, in accordance with it$ governing document, are either nominated by Members or proposed by fesolution of the Council of ManaBement. A Directo¢5 appointment is ratified bv majority of Members at the Annual General Meetin8. The Dirertors, term of office is three years. after which they are eli8ible for re-election. Trustee Recrurtment and Tralnlni The Council of Management aim to recruit Tiustees who have the varied skills necessary to fulfil their dutie5 a5 Trustees of the School. New trustee5 are taken on a tour of the School, receive a briefin8 on how the School is run and are Biven a handbook containing copies of the School's policies. Trustees are encouraged to attend appropriate training courses or seminars and are circulated with relevant ptjblications. The School is a member of the Associalion Governing 8odies of Independent Schools, All Trusiees are required to obtain clearance from the Disclosure and 8arrin8 Service. COVID-19 The Children's House School operaies on rwo sites a nursery on Elmore Street and an Upper School on Kin8 Hen$ walk. The nursery wa5 open for the whole academic year except where year group bubbles were required to be closed for self-isolation, rhe Upper School was open to all pupils except for durin8 the national lockdown from January to 8" March 2021 and where year group bubbles were required to self-isolate. The School remained open during January to March 2021 to the children of keyworkers as the cate80ry was broadened to in¢lude additional professions. Our education provision continued to all pupils dvrin8 period5 01 physical closure usin8 online resources and paper based resource packs. The School adhered to governrnent Buidance regarding returning to in-person teachin8. social distancing in Schools and cleanin8 re8irnes. The quality of ongoing education for our pupils and the health, safety and wellbein8 of our entire School community Wa5 our mairn priority. To make up lor lost lace-to-face teaching time the Upper School opened lor an additional ihree days over the Easter Holidays, which was well received by parents as families were unable to travel at that lime. The School continues to remain ready to revert to remote provision in the case of insufficient teachtng staff due to self-isolation, vear group self-isolation or national or local lockdowns for any period of time. Or8anlsatlonal ManaKement The Council of ManaÉement meets formally at least once a ierm and more often. where necessary, to provide governance over518ht and guidance on strategy of the School after discussion with the Head teachei, the Head of Nursery. and the Administrator and. where appropriate, with the Parent Committee. The School is run on a day-to-day basis by the Head Teacher. Head of Nursery and Adminislrator who are responsible to the Council ol Managemeni. Technical educational matters are delegated to the Head teacher. The Parent Committee, whose membership 15 drawn frorn the body of current parents at the School. usually meets termly and is consulted on many aspects of the running of the School. The Parent Committee acts in an advi50ry capacity only. Ultimate responsibility for the running of the School lies with the Council of Management. All Mernbers of the Parent Cornmittee are required to obtain clearance from the Disclosure and Barring Service.
THE CHILDREN'S HOUSE SCHOOL TRUSTEES, ANNUAL REPORT {continued) YEAR ENDED 315t AUGUST 2021 Remuneratlon The Council of Mana8ement sets the remuneralion of key management personnel in June of each year. The level of remuneration is Set with reference to changes in role5. performance, level of experience and with regard to rates of pay within the sector. Prlntipal Rlsks and Untertalntle5 The Council of Managèment reBards the issue of risk management a5 a priority. The key risks for the School include.. Reduced revenue from School fees due to reduction rn the nltsrnber of pupils attending the School from both reduced demand for independent education due to COVID and increased competition from other school5, Economic downturn. including affordability of school fees. Increased rates of pay and pension coniributions in the public sector, Insufficient teaching or administrative Staff to run the School due to illne$5, Lack of 5u¢¢ession plannin& and requirement to broaden the skill set within the Coun¢il of Management a5 the School under8¢es expansion. Decrease in charitable 8ivinB due to restrictions on social gatherings demonstrating inadequate publi¢ benefit as a charlty, Declining parental involvement in runnin8 social and charitable events given lirnited a¢ce5S to the School sites due to Covid-19. The Council of Management regularly assesse5 the risks to which the charity 15 exposed. agree5 how best those rlsks may be mitigated and takes the appropriate action to mènage them. Special responsibility for particular area5 of risk. such as child protection and health and safety are allocated to Council of Mana8ernent rnembers who are given appropriate training. Routine health and safety and risk assessments are regularly undertaken by the School's staff. In addition, the Children's House tsse5 an external risk assessor to undertake a thorou8h risk 855essment of both its sile5; the m05t recent external rlsk assessment was carried out in June 2021, an internal risk assessment was last performed in October 2021.
THE CHILDREN'S HOUSE SCHOOL TRUSTEES, ANNUAL REPORT (continued) YEAR ENDED 31" AUGUST Z021 OBJEcfs. PUBLIC 8ENEFIT AIMS, oBJEIVEs AND PRINCIPAL AcfiviTIES Objectives and A¢ti¥itie5 The object of the company is the advancement of children aged 16 or under by the operation of schools. educational centre5 and educational facilities. In order to advance this object. the school aims to provide safe and satisfying educational and play facilities and to encourage thè participation of parents in activitie5 which prornote their children's education. In furthering this Object, the Council of Management, as charity trustees, have complied with the duty in s.17151 of the Charitie5 Act 2011 having due regard to the Charity Cornmission's published guidance concerning the opeiation of the Public Benefit requirement under that Act. Prlntlpal Actlvltiès and Income Source5 The principal activity of the company for the period under ieview was running the Children's House School on its two sites in Islington. It provides nursery educatton for children from the age of 2A 10 4 at its Elmore Stfeet building and education for children from the age of 4+ to 7 at the Upper School in King Henrfs Walk. Ouring the period. the school had an average of 10512020-.1271 pupils across both sites. The school's principal Source of income Is from school fees. Other sources of income are as follows= Insurance claim against loss of income in 2019-2020 £ICQ.OLK>12020.. £NILI Funding from 1s1in8ton and Hackney Councils to support pupils with spectal educational needs E8.71112020.. £1,709) Annual auction ENIL12020'. £7,605 after deduction of donations to other charities). COVID-19 Government grants £NIL12020.' £66.8591. Grant Makln8.' bur5arles and asslstance wlth fees Ai any given time a number ol children are supported through the s¢hoolwith Means tested bursaries, assessed by an independent agency. which. in most cèse5, are worth 100% of the fees. These are pupils for whom it is jud8ed that the small class sizes and particular environrnent that the Children's House provides will enable them to flourish better than in an alternative settin8 but whose parents would be unable to meet the cost of the fees. In the year ended 31" Au8USt 2021 2 pupils received bursaries representin8 90-100% lees at the nursery. the cost of which amounted to £10,225 representin8 1%12020'. £11,869 iepreseniing 1%) of 8ross fee income. The school is lookin8 to continue to provide this benefit to further pupils. In addition. a hardship fund 15 available lo families within the school should they be¢ome unable io meet the fees. In the year ended 31" Au8U5t 2021 no familie5 accessed the hardship fund12020.' 1 family £7.6521. Communlty Llnks The COVID-19 pandemic significantly reduce(I the Community artivities the School particspaied in last year, however some activities were able to happen. The Upper School and our nearest nei8hbour. St Jude's and St Paul's Primary School, Continued to work together in a number of areas including the colleciion of food donations for the Hackney Food Bank. The Children's House has links with the adjacent Church. St Jude and St Paul's. The children visit the Church as one of many visits to places of worship. The Vicar sometimes leads an assembly for our ¢hildren. The Children's House is responsible lor two plots in the community garden in King Henry's Walk which was created with the support of Islin8ton Council. The School's involvement in ihis garden results in a number of benefits both to its own pupi15 and to the wider ctrmmunity. The 83rden. which is a valuable community resource and is frequently open to the public as well as being used by many othef groups, provides an excellent iea¢hin8 resource for Children's House pupils who visit it re8ularly to tend their plot. The nursery children regularly vlsit the Almorah Community Centre garden. The School's payment for this supports the Almorah Community Centre and the School provides financial assistance with the garden's upkeep as and when necessary. Visits to the Almorah Community Centfe were paused during thè COVID-19 pandemic due to the centre being closed. visits restarted durin8 the Sumrner term. The children sang at the Community G3rden winter fair. At Christmas the Year l and 2 children sent the residents of the Mildmay care home a recording of their carol concert as they were unable to sing in person. We are now linked in with the local anti-idlin8 campaign and Clean Air4 Schools. We are part ofthe ECO school programme and have appointed a teacher as an ECO co-ordinator who works with children in the ECO commitiee.
THE CHILDREN'S HOUSE SCHOOL TRUSTEES, ANNUAL REPORT (continued) YEAR ENDED 31" AUGUST 2021 Plans lor the FutLtre In recent year5 the School has undertaken an extensive survey of present and past parents to help develop its plan5 for the future. The School has already made changes to the se55ions available to nursery pupils in response to this feedback and is expanding the provision of before and after School care for children at both sites_ Overwhelmingly, parènts indicated their preference to educate their children at The Children's House School to Vear 6. avoiding the need to change School early in the child's education and the 7+ exam. We are delighted to be expanding into a full Preparatory School for ¢hildren up to Year 6. Our first Year 3 cohort will start in September 2022. In order to facilitate our School expansion goals. we are plannin8 to undertake a number of building projects in order to create additional classrooms and mulii-use spaces throughout our buJldin8s at Elmore Street and King Hen5 Walk and in additional space in the Upper and Lower halls of St Jude and St Paul's Chuich. Most of the works will be completed durin8 holiday periods, to minimise disruption to staff and pupils. and will be divided into three di5tintl phases. The ultimate alm will be the Creation of a dedicated Children's House Early Years Learning Centre at Elmore Street. atcommodating our nursery. pre-reception and Reception Children. and a vibrant home for our Children's House Preparatory School at King Henry's Walk accomrnodatin8 Year I to Year 6. We have already commenced works Wlth the redevelopment of the play8round at King Henrfs Walk creatln8 a multi-use games area.
THE CHILDREN'S HOUSE SCHOOL TRUSTEE5' ANNUAL REPORT (continued) YEAR ENDED 31" AUGUST 2021 REVIEW OFACHIEVEMENTS AND PERFORMANCE FOR THE YEAR Operational performance The following tables deiail the schools to which leavers from both the Nursery School and the Upper School progress. Thev demonstrate that the Children's House continues to send children lo a good range of its traditional destination schools and is thereby fulfilling it5 aims and objectives through its main activity of the advancement of children through education and plav. Summary of schools atttnded by Nursery school leavers 2021 2020 No. No. 19 io The Children's House Upper School The Cavendish School Channing School Charterhouse Square The Ggwer School Guildlord High School The Hall King Alfred School King's College School Cambridge Norihbrid8e House Queen5brid8e Primary School St Anthony'5 School St Paul'5 Cathedral School Trevor Roberts School Westminsier Cathedral Cholr khool William Tyndale Pfirn#ry S¢hoo1 Willow Prsmary S¢h¢ol Moved over5easlgut of area Unknown Summary of schools attended by Upper Sthool leavers The Cavendish School City ol London Girls The Ora8onS¢hool Foresi School The Gatehouse School Kin8 Alfred School Northbridge House Queen's College Preparatory School St Paul's Cathedral School University College School Moved overseas Staff The Trustees are. as ever. 8rateful to all the staff at the Children's House for their hard work and commitment to the continuing success of the School.
THE CHILDREN'S HOUSE SCHOOL TRUSTEES, ANNUAL REPORT {continued) YEAR ENDED 31" AUGUST 2021 REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR ThE YEAR Icontinuedl Fundralslng performance The Trustees of The Children'5 House have always considered that the School should play 3 full and responsible part in its local community, striving to pursue its charitable objects both within and beyond the confines of its pupil populati(In. The majority of fundraising 15 for the benefit of other charitable organisations. with the exception of a proportion of income from the School uction agreed annually by the Parent Commiiiee. Fvndraising activitie5 were limited during the year due to the Social contact restrictions in place due to COVID-19. The auttion. organised by the Parent Committee in the Auttsrnn term. which usually is the main fundraising activity hosted by the School could noi take place. There is currently no long-term fundfaisin8 initiative. There were no cornplaints regarding fundraising activities durin8 the year. Wheelles In the sumrner term the children undertake their main fundfaislfi8 activily of the year, a sponsored event known 35 Wheelles. In June 2020 the children raised £2.011. The Council of Managed agreèd that the School would match the funds raised brin8in8 the total donation to CPo¢ential to £4.02112020'. £NILI. Othef A number of other smallei fundraising a¢(ivities occur throughout the year including Comic Relief and the collectl¢n of Chrlstma5 8ifts for under privileged children throughout Eastern Europe lor Mustard Seed Relief Mission's "Love in a box- scheme. Unfortunately, some activities which the School participates in annually were vnable to be held in the year such as the Harvest appeal and the London Childfen's Book Project due to COVID-19 iestrictions, but will resume in the comin8 year. The Summer Fair was unable to be held in 2020. howevef the Year 2 ¢hildren ran an Outreach Stall in the Summer term 2021 and raised money for their chosen charity, the Marine Conservation Society. From I September 2020 10 31 Au8USt 2021 the Children's House has supported the following charities.. 2021 2020 Charltable OrÈan15atlons CPotential Wheelies Summer Fair Outreach Comi¢ Relief Friends of the Rosebowl- Marquess Esiate- Auuion Urban Hope - Auction St Stephen's Church, homeless project Islington Boat Club- Auction Sport Relief 4,021 538 215 6,167 6,167 896 750 40 Total 4,774 14.020 Investmènt performance In addition tg a deposit a¢¢ount. the School holds a number of lon8-term deposits. The average rate of return wa$ 0.04%12020'. 0.4%1.
THE CHILDREN'S HOUSE SCHOOL TRUSTEES, ANNUAL REPORT (continued) YEAR ENDED 31st AUGUST 2021 FINANCIAL REVIEWAND RESULTS FOR THEYEAR Income lor the year totalled £1.588.165 12020". £1.6.424) and expenditure amounted to £1.477.122 12020.. £1,519,674>, re5ultin8 in a surplus of £111.04312020.. £80.7501. Fee income for the academic year amounted to £1.422,62212020'. £1.475.9801 after deducting the cost of bursarie5 and a5515tance with fees of £12,21612020'. £27,703). Other income was feceived from a number of sources. Income received from forfeited fee deposits and fees received in lieu was £33.49912020". £7.6211. No donations were received duiing the year12020'. £4831. The School continued io receive funds from lslinÈton as part of earlv vear5 educalion enlitlernents for 3 and 4 year olds amountinB to £207,58712020'. E240.3771. No other Government grant5 were received durin8 the year12020.. £66,859). The School received an insurance claim Of £IOO,000 for loss of income relatin8 to £2019-202012020_' £NILI. Cash at bank and in hand totalled £2.219.91812020.. £2.120.6741 ai 31° Au8USI 2021. Staff costs, which are always the School's most significant expense. amounied to £1.139.00712020.. EI.135.2561 representing 80% 12020,, 77%) of t)et fee income. The School continued to develop il's mana8ement team stru¢¢ure and re¢rult hlgh quality staff members. Management accounts are prepared termly and all variances from the annual budget are investigated and reported to the Council of Managernent. rhe surplus made durin8 the year was lar8ely due to the insurance claim relatin8 to the previou5 year. Withoul Ihi5 ¢l#im the School would have made a very Small surplus. All staff remained lully employed and no 8overnment COVID-19 assistance wa5 sought. The School did not increase fees from the 2019-2020 level in recognition ol the increased financial burden facing many families. The School did not adjust lees for periods where the School was physically ¢lose(J to pupils. as costs did not vary materia15v by the physical closure and as the S¢hool had not increased fee5 for ihe year. Children at the nursery and Upper School continued to access all lessons rernotely during periods ol physical c105ure. RESERVES POLICY At 31, August 2021 the total reserves of the ¢harity were £2,138,43612020.' £2,027.3931. All reserves are unTe5tricted and include free reserves of £1.718.90712020.. £1,673.9911, designaied funds for fixed assets of £366,08412020.' £299,957) and bursaries £53,44512020.. £53,445). The Trustees aim to build a sufficient level of free reserves to repay fee deposits, to cover approximatelv one term'5 expenditure, to undertake maintenance and development of School facilities and ro provide the Trustees with sufficient financial flexibility to respond to strate8iC OPPOrtunilies as they arise including the planned School expansion project. As such the Trustee5 consider the current level of ieserves io be in line with thè requrrement. INVESTMENT POLICY Investments are cash deposits as. despite the relatively low returns, Ihe Trustees consider this approach currently p05es less risk than other forms of invÈstments. This position is reviewed re8ularlv.
THE CHILDREN'S HOUSE SCHOOL TRUSTEES ANNUAL REPORT (continued) YEAR ENDED 315t AUGUST 2021 STATEMENT OF TRUSTEES, RESPONSIBILMES The Trustees Iwho are also the dirÈdor5 of The Children's House School for the purposes of company lawl are responsible for preparing the Trustees. Report and the financial statements in accordante with applicable law and United Kingdorn Generally Accepted Accountin8 Prartice (united Kingdom Accountin8 Standards). Company law requires the Trustee5 to prepare financial statement5 for each financial year. Under company13w the Trustees must not approve the financial staternents unless they are saiisfied that they give a true and fair view of the state of affairs of the charitable cornpany and of the incoming resources and the application of resources. including the income and expenditure, of the company for that period. In preparin8 these financial 51atements. the Trustees are fequired to= Select the most suitable ac¢ountin8 policies and then appfy them consistentlv- observe the methods and principles in the Charities SORP; make judgements and estimates that are ieasonable and prudent., state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial 5tatemenis.' and prepare ihe financial statements on the going concern basi5 unless it is inappropiiate to presume that the Charitable company will continue in busine$5. The Trustees are responsible for keeping adequate accounting records thai are sufficient to show and explain the charitable company's transactions. disclose with reasonable accuracy ai anytime the financial position of the charitable company and enable them to ensure that the financial siatÈments comply with the Companies Act 2006 and the provisions ol the charitV'5 constitution. They are also responsible for safeguardin8 the assets ol the charity and ensuring their proper application under charity law and hence for taking reasonable steps for the prevention and deteciion of ffaud and other irregularitie5. RELEVANT AUDIT INFORMATION Insofar a5 each of the Directors. as members of the Council of Management. at the date of the approval of this report is aware there is no relevant audit information (information needed by the Company's auditor in connecrion with preparing the audit reportl of which the Company'5 auditor is unaware. Each membei of the Council ol Mana8ement has taken all the step5 that they should have taken as a member of Ehat body in order to make themsèlves aware of the relevant audit information and to establish that the Companvs auditoi is aware of that information. Approved by the Board of Directors at its meeting on l March 2022 and si8ne(l on its behèlf by Dawn Brlndle Chair
THE CHILDREN'S HOUSE SCHOOL INDEPENDENT AUDITO*S REPORT TO MEMBERS AND TRUSTEES YEAR ENDED 31S1 AUGUST 2021 Opinion We have audited the financial 5t3tements of The Children'5 House School for the year ended 31 August 2021 which comprise the Statement of Finantial Activities, the Balance Sheet. the Cash Flow Slaternent and note5 to the financial statements. includin8 a summary of significant accounting policie5. The financial reporting framework that has been applied in their preparation is pplicable law and United Kingdorn Accounting Standards. including Financial Reporting Standard 102 The Finanriol Reporting Stondord opplicable in the UK ond Republic of irelond (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the stale of the charitable ¢ompanVs affairs as at 31 August 2021 and of the charitable company's nei movement in funds. including the income and expenditure. for the year then ended.. have been properly prepared in a¢cordance with United Kin8dom Generally A¢¢epted Accounting Practice.. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further desciibed in ihe Audilof's responsibilities for the audit ol the financial Statements section of our report. We ale independeni of ihe charity in accordance with the ethical requirements that are relevant to our audit ol the finan¢ial statements in the UK, in¢lyding the FRC'S Ethical Standard. wè have fulfilled our other ethical responsibilities in accordance with these requirement5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for Ouf opinion. Concluslon5 relatlng to golni concern In auditin8 the finantial statements, we have concluded ihat the tfustee. use of ihe 80ing ¢on¢efn basis ol accounting in the preparation of the financial statements is appropriate. Based on the work we have perfofmed. we have not identified any material uncertainties relatin8 to event5 or conditions that, ndividually or collectively. may cast Sl8nificant doubt on the Charitable Company's ability to continue as a 80ing concern lor a period of at least twelve months from when the financial statements are auihorised for issue. Our responsibilities and the responsibilitie5 of the trustee5 Wlth respect to 8oin8 concern are described in the relevant sectlons of this report. Other Informatlon The trustees are responsible for the other information. The other informalion Cornprises the information included In the Trustees, Annual Report. Our op¢nton on the linancial 5taternents doe5 not cover the other information and, except to the extent otherwise expli¢itly stated in our report, we do not e¥pre55 any form of assuran conclusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other information and, in doing $0, 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 misstatÈd. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whethei there is a material misstatement In the financial statements or a material misstatement of the other information. If. based on the work we have performed. we conclude that there is a material misstatement ol thi5 Other information, we are required to report that fact. We have nothin8 to report in thi5 regard. Opin5ons on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the woik undertaken in the course of the audit-. the information given in the Trustees. Annual Report (which include5 the strategic report and the directors. report prepared for the purposes of company lawl for the financial year for which the financial statements are prepared is con515tent with the financial statements.. and the Tru5tees' Annual Report Iwhich incorporate5 the strategic report and the directors, report) has been prepared in accordance with applicable legal requirements. 10
THE CHILDREN'S HOUSE SCHOOL INDEPENDENT AUDITOR'S REPORT TO MEMBERS AND TRUSTEES YEAR ENDED 31" AUGUST Z021 Matter5 on whlth we are rÈquired to report by exception In the light of the knowledge and understanding of the charitable cornpany and its environment obtained in the course of the audit, we have not identified material misstatements in theTrustees' Annual Report Iwhi¢h incorporate5 the strategic report and the directors. report). We have nothin8 to report in respect of the following matters in latiOn to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept by the charltable company; or the charitable company financial statements are not in agreement with the accounting records and returns., or review of minute5 of manaBernent committee minutè5,' or certain disclosure5 of trustees, remuneratton specified by law are not made- or we have not received all the infonnation and explanations we require for our audii. Responslbllltlès of trusteè5 for the flnan¢ial statements As explained rnofe fully in the trustees. responsibilities Siatement set out on pa8e 9, the trusiee5 Iwho are also the directors of thè charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial statement5 that are free from material misstatement. whether due to fraud or error. In preparing the financial statements. the trustees are responsible lor assessing the charitable company's ability to continue as a 80in8 concern, disclosin& as applicable, matters related to 8oin8 concern and using the 80ing concern basis tsf accountin8 unless the trustees either Intend to liquidate the charitable company or to ¢ease operations. or have no realistic alternative but to do so. Audltorfs responslbllltles lor the audFt of the flnan¢lal statemÈntS Our objectives are io tsbtain re3$0nable assurance about whether the financial staternents as a whole are free from material misstaternent. whether due io fraud or errol, and to issue an auditorf5 report that includes our opinion. Reasonable assurance is a hi8h level of assurance. but 15 not a Buarantee that an audil conducted in accordance with ISA5 IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the a8gre8ate, they could reasonably be expected to influence the economic decisions of users iaken on the basis of these financial statements. Irre8ularities, including fraud, are instances of non-¢ompliance with laws and re8ulations. We design procedures in line wilh our responsibilities, outlined above. to detect material rnisstatements in respect of irre8ulafities, In¢ludinB fraud. The extent to which our procedures are capable of detectin8 irreBularities, including fraud is detailed below.. Based on our understandin8 of the charrtable company and industry. we identifTred that the principal ri5k5 of non-¢ompliance with laws and regulation5, company law and chaiity law applicable in England and Wale5, and we considered the extent to which non-compliance might have a material effect on the financial statement5. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements stsch 85 the Companies Act 2006 and Charitie5 Act 2011. We evaluated management'5 incentives and opportunities for fraudulent manipulation of the financial statement5 (including the risk of override of controls) and deterrnined that the princbpal risks were related io mana8ement bia5 in accounting estimate5. Audit procedures performed by the engagement team included.. Inspection of correspondence with re8vlaior5 and tax authorities.. Discussions with management includinB consideration of known or su5peued instances of noncompliance with laws and regulation and fraud.. Evaluating management's controls designed lo prevent and dwect irregularilies.. Identifying and testing journals. and Challenging assumption5 and judgements made by management in their critical actounting esiimates. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council'5 web51te at". www.frc.or auditorsres on ibilities. This description forrns part of our auditor's Teport.
THE CHILDREN'S HOUSE SCHOOL INDEPENDENT AUDITOR'S REPORTTO MEMBERS AND TRUSTEES YEAR ENDED 31" AUGUST 2021 Use of our report This report is made 501ely to the charitable company's members. 85 a boity. in accordance with Chapter 3 of Part 16 01 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'5 report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume iespon5ibility to anyone other than the chariiable company and the charitable ¢ompany's members as a body. for our audit work, for this report. or for the opinions we have formed. Rlchard Weaver Isenior Statutory Auditor) For and on behalf of Haysmacintvfe LLP. Siaiutory Auditor l March 2022 10 Queen Street Place London EC4R 18£ 12
THE CHILDREN'S HOUSE SCHOOL STATEMENT OF FINANCIAL ACTIVITIES (Including an Income and Expenditure Account) YEAR ENDED 31st AUGUST 2021 Notes 2021 2020 INCOME FROM: Charitable Activities School Fees Receivable Income From Ancillary Trading 1.422.622 61,236 1.475,980 25.898 Other Tradlng Activltles Fundraisin8 Events 2.763 23.011 Donations and Legacies Donations and Grants 67,342 Other Other Income I.725 707 Investment5 Bank Interest 819 7.486 Total Income 1,588,165 1.600,424 EXPENDITURE ON: Ralsin¥ Funds Fundraisin6 Costs Financlng Costs 1,386 265 297 297 Charltable Actlvliles School Operatin8 Costs 1,651 1.476.825 1,518,023 Total Expendlture 1.477.122 1,519,674 Net In¢ome- Movement In funds 111,043 80,750 RECONCILIATION OF FUNOS.. Unrestricted funds brought forward at Isi September 2020 2,027.393 1.946,643 Unrestrlrted funds carrled forward at 31st Au8U5t 2021 14 2,138.436 2.027.393 The Statement of Financial Activities incorpofate5 the Income and Expenditure account. There are no other recognised gains or losse5 Other than those shown above. The notes on pages 16 to 23 form an integral part of these financial statements 13
THE CHILDREN'S HOUSE SCHOOL 8ALANCE SHEET AS AT 31" AUGUST 2021 COMPANY NUMBER: 5443050 2021 2020 FIXED ASSETS Tangible Assets School Land. Buildings and Equipment 366.084 299,957 Totolfixed ossets io 366.084 299.957 CURRENT ASSETS Debiors Cash at Bank and in Hand li 14.155 2.219.918 41,669 2,120,674 Totol currenr osset5 2,234.073 2,162,343 LIABILITIES Creditors., Amounts falling due within one year 12 1317.7211 1289,9071 Net currer>i ossets 1,916,352 1.872,436 rotol ossets less cUrnt liobilifies 2.282.436 2,172,393 Creditors.. Arnounts fallin8 due after more than one year 13 1144,Crf)01 114S.C*JOI TOTAL NET ASSETS 2.138.436 2,027,393 THE FUNDS OFTHE CHARITY General Fund Designated Funds.. Fixed As5et5 Bursaries 1.718,907 1,673.991 366.084 53.445 299,957 53,445 TOTAL UNRESTRICTEDCHARIYY FUNDS 14 2.138,436 2,027.393 The financial statements have been prepared In accordance with the special provisions relating io companies subject to the small companies regime within Part IS of the Companies Act 2CM)6. ents were approved and authorised for issue by Ihe board l March 2022 and were 518ned on iheir behalf by.. Dawn Brindle Chairman Danielle Dufey Director The notes on pages 16 to 23 form an integral part of the financial statements. 14
THE CHILDREN'S HOUSE SCHOOL STATEMENT OF CASH FLOWS YEAR ENDED 31" AUGUST 2021 Notes 2021 Cash flow5 from operatlng adivlt 2020 Net cash provided by operatin8 artivities 187.546 IC18,633 Cash flows from investln8 artlvitles Interest income 819 7.486 Purchase of tangible fixed assets io 189.1211 18091 Net cash used In Investlnt artivitles 188,3021 6,677 Net Increase In cash and cash equhalents In the year 99,244 IIS,310 Cash and cash equlvalents at I" September 2020 2.120.674 2.005,364 Cash and cash equlvalents at 31" Auiust 2021 2,219.918 2.120,674 Recon¢lllatlon of net movement In fvnds to net cash flow from operatlng actlvltles Net income lor the year per SOFA Depreciation char8e for the year Loss on disposal of fi¥ed asset Interest income Decrease/llncreasel in debtors Increase in ereditors falling due wiihin one year (Decrease) in creditors falling due after more than one year 111.043 22.994 80.750 60,491 220 17,4861 114.6841 14.842 125,5001 18191 27,514 27,814 11.0001 Net cash provided by operating activities 187.S46 108.633 AnalysSs of tash and cash equl¥alent Cash in hand Notice deposits 60.169 2.159.749 69.263 2.051,411 Net cash provided by operating activitie5 2.219,918 2.120,674 The notes on pa8es 16 to 23 form an integral part of the financial statement5. 15
THE CHILDREN'S HOUSE SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 31st AUGUST 2021 ACCOUNTING POLICIES 83515 of Accounting The financial statements are prepared under ihe historical c05t convention. The format of the financial statements has been presented to comply with the Companie5 Ad 2W6. FRS102 The Financiul Reporting Standt7rd opplicable in the UK G¢nd Irelond and the Statement of Recommended Practice Accounting and Reporting by ChtJritie51"SORP 2015-1 (Second Edition. effe¢ti¥e l January 20191. The Charity is a Publtc 8enefit Entity as defined by FRSIO2. General Snformatlon The Charity is a company limited by guarantee. incorporated in En81)nd and Wales l¢ornpany number.. 54430501 and charity registered in England and Wales Icharity nurnber.. 11132851. The ChafitV'5 re815tered office addre55 is.. 77 Elmore Street, London, Nl 3AQ Golng concern Having reviewed the funding facilities available to the Charity tO8ether with the expected on8oin8 demand for places and the Charity's future projected ¢ash flows. the Trustees have a reasonable expectation that the Charity ha5 adequate resovrces with whi¢h to ¢ontinue it5 activities for the foreseeable future and consider that there are no material unceriainties which would cast doubt over the Charity's ability to continue as a going concern. Accordingly. rhey continue to adopt a going concern basis in preparing the financial statements as outlined in the Statement of Tru5tees' Responsibilities on page 9. 518nlf5cant Judgments and Soufces estlmatlon untertaSnty In the application of the a¢couniin8 policies, Tru5tee5 are required to make jud8ement, estimates, and as5UrnPtions about the ¢arrying value of assets and liabilities that are not readily appareni Irom oiher sources. The estimates and underlying assumptions are based on historical experience and other lactors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlyin8 assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are reco8nised in the period in which rhe estimate is revised il the revision affects only (hat period, or in the perlod of the revision and future periods if the fevision affected current and future periods. The only significant judgement and estimate made by the Trustees is deemed to be in relation to the estimated economic useful life of tangible fixed assets which is reflected in the depreciation rates applied and are discussed below In accounting policy h. The following principal a¢countin8 policie5 have been applied.. bl In¢ome School Fee5 receivable and similar income are accounted foi in the period in whi¢h the service is provided. Fees receivable represent fees less bursaries and allowan$ and other income derived from ihe School's continuin8 activitie5. Re8lStration fees are non-refundable and are credited io income when received. Fee Deposits are included as a liabi15ty until refunded oi, on ceasin8 to be refundable, are credited to income. Advance fees are credited to income a5 and when they fall due. c) Donations and Brants Donations and grants are accounted for 35 and when entitlement arise5, the amount can be reliably quantified and the economic benefit to the School is considered probable. Coronavirusjob Retention Scheme ICJRSI is a government grant and is recognised as recèivable in line with the period that the payroll expense has been incurred. 16
THE CHILDREN'5 HOUSE SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 31" AUGUST 2021 dl Income from other trading artivitles Fundraisin8 income. including income from the annual auction event, is recognised in the period in which the good5 are 501d or the services are provided. e) Investment income Investment Income from bank balance5 is accounted for on an accruals basis. Expendlture Expenditure 15 reco8ni5ed as soon as the related liability is incurred and has been classified under headings that aggregate all cost5 relating to that cateeory. Liabilities are recognised as soon as there 15 a legal or constructive obligation committing the Charity to the expenditure. Value added tax IVATI irrecoverable is included in the relevant costs. Employment benefits, rnduding holiday pay. when applicable, are recognised In the period in which they are earned. Termination benefi15, when applicable. are recognised in the period in which the decision is made and cornmunicated to the relevant employeelsl. Expendilure on raising funds comprises fundcaisin8 Costs and finance costs. Expenditvre on chariiable activities comprises expenditure directly related to the provision of educatlon and adrninistrative support cosis ar costs relating to the governance of the charitv. School suppoit costs comprise the Salary cost ol administrative staff. other associated overhead5 and depreciation attributable io these activities. Governance costs include strategi¢ planning for its future development, auditor5. rernuneration, certain legal COSis and all costs of complyin8 Wlth constitutional and statutory requirements, such as costs of Board meetin85 and of preparin8 the statutory accounts. 81 Funds General funds comprise the accumulated surplus or deficit frorn the Staiernent of Financial Activities wh*ch is not re5trlcted nor designated funds. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Desi8nated funds ¢omprise fund5 that have been set aside for specific purposes at the discretion of the Trustees. The purpose and use of the designated unrestricted funds are set out in the notes to the accounts. h) Tanilble Assets and Depreclatlo The freehold property was originally slated at a valuation made on 31 August 1995 within the original charity, The Children's House School. The incorporated charity has inherited this valuation whith, in accordance with then current transitional arrangements under FRS 15. has not been updated. The Charity has not taken advantage of the provisions in FRS 102 to revalue the freehold property. New buildings and extensions to existing building5 together with any furniture and equipment purchased are included at cost. Assets with a cost of £500 or more are capitalised Depretiation is provided on all tangible fixed a55ets retained for use by the School at rales calculated to spread each 355et's depreciable value evenly over it5 expected useful economic life as follows.. Depreciation is not provided on capital work in pro8re5s until the assets are in use. Freehold land is not depreciaied. 17
THE CHILDREN'S HOUSE SCHOOL NOTES TO THE ACCOUNTS YEAR ENOED 31" AUGUST 2021 Ihl Tangible Assets and Depreciatlon Icontinuèdl The carryingvalues of tangible fixed assets are reviewed for impairment in accordancewith the requirements of FRSIO2. Freehold Land and Buildings ovei ILK) years on cost gf freehold buildtn8 Over 4-100 years Property Improvements Fixlures & Filtin85- Freehold Leasehold Propertv various rotes, accordin8 to each individual asset over the period of the lease Leasehold Property Improvements Fixtures and Filtings- Leasehold over the remaining period of the lease over ¢he remaininB period of the lease over 4-10 years Furniture & Equipment Flnanclal Instruments Basic financial instruments are initially reco8nised at transaction value and subsequently measured at amort15ed with the exception of investments which are held at fair value. Financial a55ets held amortised cost comprise cash at bank and in hand. tO8ether with trade and oiher debtors. A specific provision 15 made for debis for which recoverabilily is in doubt. Cash at bank and in hand is defined a5 all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all ¢¥editors ex¢epl social security and other taxes and provisions. Oebtors Tiade and other debtors are recognised at the seitlement amount due after any trade discount offered. Prepayment5 ale valued at the amount prepaid net ol any trade discounts due. Cash at bank and in hand Cash and cash equivalents includes cash in hand. deposits held at banks and, when applicable, other short. tefm highly liquid investments wilh original maturitie5 of three months Of less and bank overdfafts. Bank overdrafts, when applicable. are shown within current liabilities. Creditors and provisions Creditors and provisions are recognised where the School has a present legal or constructive obligation resulting from a past event that will probably result in the transfer of funds to a third party and the arnount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally reco8ni5ed at their swtlement amount after allowing for any trade discounts due. J) Penslon Scheme5 Prior to the commencement of auto enrolment on I" November 2015, the charity offered a defined contribution. stakeholder pension scheme to eligible staff. The asset5 of this scheme are held separarely from those of the charity. Following the introduction of auio enrolment this scheme is now a closed scheme to new membefs and staff who jotned after this date have been enrolled into the People's Pension Scheme, also a defined contribution scheme. Pension5 Costs charged in ihe Statement of Financial Activities repfe5ent the contribution5 payable into both s£hemes by Ihe Charity durin8 the yeai. kl Operaiing Leasts Rentals paid under operating leases are chargeil to income on a straight line basrs over the lease term. Where applicable. benefits received and receivables as an incentive to sign an operating lease are similarly on 3 stfal8ht line basis ove¥ the lease term. 18
THE CHILDREN'S HOUSE SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 31st AUGUST 2021 SCHOOL FEES RECEIVABLE 2021 2020 Gr055 fee5 receivable Le5S'. Bursaries and other awards 1.434,838 1,503,683 112,2161 127,7031 Net School fees receivable 1,422.622 1,475,980 INCOME FROM ANCILLARY TRADING 2021 2020 Forfeited Fee Deposits and Fees in Lieu of Notice Re8iStration fees SEN funding from Islingion and Hackney Other 33.499 10.9 8,711 8.126 7,621 8,200 1,709 8,368 61,236 25,898 4. FUNDRAISING INCOME 2021 2020 Annual Auction ènd Raffie Income From Other Fundraising Events 22.075 936 2.763 2,763 23,011 5. GRANTS AND DONATIONS 2021 2020 Coronavirus Job Retention Scheme Grant Small Business Grant Donation io Hardship fund 56.859 10,000 483 67,342 The Children's House School had a holiday from Business rates at 77 Elmore Street from l April 2020 to 31 Au8USt 2021. 6. OTHER INCOME 2021 2020 Insurance claim against1055 of income 2019-2020 Other IC¥),000 725 707 100.725 707 TRANSACTIONS WITH RELATED PARTIES a) Trustee Remuneration. Expenses and Benefits No Trustee received any remuneiation. expenses or benefits during the period12020.. £NILI. 19
THE CHILDREN'S HOUSE SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 315t AUGUST 2021 b) Related Party Transactions During the year, the School made no relaied party transactions12020.' lil A donation to The Friends of Rose Bowl of £6.167 of which Dawn Brindle is a Trustee. lill The School paid Francesca Orange. the daughter of the Head Teacher, £3.650 for architectural servicèsl. There were no other related party transactions in the year or prior year. STAFF COSTS Z021 2020 Salaries and wages Social security costs Ernployer's pension contribution5 Other 992,073 84.934 43.974 18.026 988,430 85,497 42.895 18.434 1,139,007 1,135,256 Average number of employees on a headcount basis during the year.. Teaching Administration Domestic No. 31 No. 31 37 36 2021 2020 Aggregate employee benefits for key management personnel Ipa8e 11 293.201 269.095 One employee had gross remuneration excludin8 pension contributions in the range of £60.CW- £69,99912020'. One in the range of £60.000- £69,999). EXPENDITURE Staff C05t5 Other Depfeciatlon 2021 Total Charltable Actl¥ltles'. School operating cosis.. Teaching cosis Welfare costs Premises Support costs (Governance Costs) School support costs 990.925 55,226 6,868 160,489 28,559 63.682 7,904 1,054,05S 6,868 195.679 28.559 191,664 20.511 14.679 127,571 411 1.139,007 314.824 22,994 1,476,825 Cost of Generatlng Funds Fundraising for current voluntary income Bank Charges 297 297 297 297 1,139.007 315.121 22,994 1.477.122 All expenditure was met from unrestricted reserves. 20
THE CHILDREN'S HOUSE SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 31st AUGUST 2021 other Disclosures 2021 2020 Governance Costs tnclude= Auditorfs remuneration - Audit Fee 11.100 10,200 9a. EXPENDuRE COMPARATIVE Staff Costs Other Depreciation 2020 Total Charitable Actl¥ltles'. School operating c05tS'. Teaching costs Welfare costs Premises Support C05t5 (Governance Costs) School support COSts 989,408 65,428 6,191 160.917 14.438 75,302 13.771 1,068,607 6.191 226.003 14,438 202,784 18,779 46,307 127.069 413 1.135.256 322.276 60,491 1,518.023 Cost ol Generatlng Funds Fundrai5in8 lor current voluntary income Bank charges 1.386 1.386 265 265 1,651 1.651 1,135,256 323.927 60,491 1,519,674 10. TANGI8LE FIXED A55ETS A55ets under Construrtlon Freehold Propertv Leasehold Property Furniture and Equlprnent Total COST/vALUATION At I September 2020 Additions 429.876 361,034 4.150 147.899 3,032 938,809 89,121 81.939 At 31 August 2021 429,876 365.184 150,931 81,939 1.027,930 DEPRECIATION At I Septèmber 2020 Charge lor the year 161,486 8,587 357.852 3.182 119,514 11,225 638.852 22.994 At 31 August 2021 170.073 361,034 130.739 661.846 NET BOOK VALUE At 31 August 2021 259.803 4,150 20.192 81.939 366,084 At 31 August 2020 268.390 3,182 28.385 299,957 21
THE CHILDREN'S HOUSE SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 315t AUGUST 2021 11. DE8TORS 2021 2020 Fee debtors Prepayment5 and accrued income 130 41,539 14.155 14,155 41.669 12. CREDITORS amount5 falllng due within one year 2021 2020 Fees in advance Fee deposits Other taxation Social security costs Professional fees Sundry creditor5 and accruals 203.040 42.000 24,262 14,700 33,719 125,595 71,000 22,143 10,000 61,169 317.721 289.907 13. CREDITORS amounts f•llln8 due after more than one year 2021 2020 Refundable fee deposits 144,thJO 145.C¥J) 14. UNRESTRicfED FUNOS At I September 2020 At 31 Au8llSt 2021 Net Movement General Fund IFree Reservèsl Oeslgnated Fund5: Fixèd a55et5 Bursaries 1,673,991 44.916 1,718,907 299.9S7 53,445 66,127 366,084 53,445 2.027.393 111,043 2.138.436 143. UNRESTRICTED FUNDS COMPARATniE Al I September 2019 At 31 Au8U5t 2020 Net Movement General Fund (Free Reserves) Desl8nated Funds.. Fixed assets 8urs3ries 1.526.170 147,821 1.673.991 359.859 60.614 159,9021 17,1691 299.957 53.445 1.946.643 80,750 2.027.393 The designated fixed asset fund reflects the chariVs a55ets which are invested in the fixed assets of the School. The Trustees have also set aside funds from free fe5erves for the funding of in-year bursaries lor families within the School experiencing hardship. where the need arises. The Trustees may alier the amount5 allocated to various funds at their discretion in accordance with their custodial dulles. 22
THE CHILDREN'S HOUSE SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 31st AUGUST 2021 15. CORPORATION TAXATION The charity is exempt from tax on income and gains falling within section 505 of the Taxes Att 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to extent thal these are applied to its charitable objects. 16. CAPITAL AND OTHER COMMITMENTS There were no capital commitments at 3151 August 202112020- £NILI. The School had the following future minimum lease payments under non-cancellable operating leases for each of the followin8 periods.. 2021 2020 Rental of Upper khool Premlses Under one year Later than one year and not laler than five years 75,(MXI 218.750 68,750 293,750 68,750 17. MEMBERS. LIABILI The liability of Members, in the event of a windin8 up. is Él eath. 23