2023-08-31-accounts - The Children's House School

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

(A Charitable Company Limited by Guarantee)

TRUSTEES' REPORT

AND

FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2023

Company Registered No. 5443050 Charity Registered No. 1113285

REPORTS AND FINANCIAL STATEMENT YEAR ENDED 31[st] AUGUST 2023

CONTENTS	Page
	1
	9
Statement of Financial Activities	12
Balance Sheet	13
Statement of Cash Flows	14
Notes to the Accounts	15

YEAR ENDED 31[st] AUGUST 2023

The Trustees present their annual report for the year ended 31[st] August 2023 under the Companies Act 2006 and Charities Act 2011, together with the audited financial statements for the year.

REFERENCE & ADMINISTRATIVE INFORMATION

Registered Office and Principal Address

77, Elmore Street, London, N1 3AQ.

Trustees

The Trustees of the Charity, who are also the Directors of the Company, who served during the year and subsequently are:

Dawn Brindle Chair to 10 October 2023 Danielle Dufey Chair from 10 October 2023 Farida El Gammal Emma Kingstone Thomas Levine Sarah Pitcher Appointed 14 January 2023 Joanna Thornton Appointed 2 October 2023 Adam Zivanic Appointed 14 January 2023 Company Secretary: Michelle Lester-Swindell Key Management Personnel: Head Teacher Whole School Ellie Grunewald Appointed 1 September 2022 Deputy Head Teacher Whole School Taiba Hussain Appointed 1 September 2022 Assistant Head Teacher Upper School Christopher James Appointed 1 September 2023 Resigned 31 December 2023 Head Teacher of Nursery School Salima Keshavjee Resigned 31 December 2022 Assistant Head Nursery School Mihaela Zama Senior School Administrator Sue Garcin Resigned 14 February 2023 Senior School Administrator Nicolette Blanch Appointed 23 January 2023 Business Manager Ainsley Stocker Appointed 1 September 2023 Professional Advisors Bankers Barclays Bank Plc 114 Fenchurch Street, London EC3 3HY Solicitors Veale Wasborough Vizards Narrow Quay House, Narrow Quay, Bristol, BS1 4QA Auditor Haysmacintyre LLP 10 Queen Street Place, London EC4R 1BE Website www.childrenshouseschool.co.uk Registered Company Number 5443050 Registered Charity Number 1113285

YEAR ENDED 31[st] AUGUST 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

guarantee and a registered charity.

Governing Document

The Company is governed by its Memorandum and Articles of Association, filed at Companies House on 4[th] May 2005 .

Governing Body

The Directors of the Company, known collectively as the Council of Management, in accordance with its governing document, are either nominated by Members or proposed by resolution of the Council appointment is ratified by a majority of Members at the Annual General Meeting. are eligible for re-election.

Trustee Recruitment and Training

The Council of Management aim to recruit Trustees who have the varied skills necessary to fulfil their duties as Trustees of the School. New trustees are taken on a tour of the School, receive a briefing on how the School is run and are given a handbook containing copies of the S tees are encouraged to attend appropriate training courses or seminars and are circulated with relevant publications. The School is a member of the Association Governing Bodies of Independent Schools. All Trustees are required to obtain clearance from the Disclosure and Barring Service.

Organisational Management

Ultimate responsibility for the running of the School lies with the Council of Management. The Council of Management meets formally at least once a term and more often, where necessary, to provide governance oversight and guidance on strategy of the School after discussion with the senior leadership team.

The School is run on a day-to-day basis by the Head Teacher, Deputy and Assistant Heads, Business Manager and Senior Administrator who are responsible to the Council of Management. Technical educational matters are delegated to the Head Teacher.

The Parent Committee, whose membership is drawn from 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 advisory capacity only.

Remuneration

The Council of Management sets the remuneration of key management personnel in June of each year. The level of remuneration is set with reference to changes in roles, performance, level of experience and with regard to rates of pay within the sector.

YEAR ENDED 31[st] AUGUST 2023

Principal Risks and Uncertainties

The Council of Management regards the issue of risk management as a priority. The key risks for the School include:

Decrease in income from School fees due to reduction in the number of pupils attending the School from both reduced demand for independent education from a possible change in Government leading to the removal of the exemption from VAT on independent school fees as well as families relocating from London following the pandemic and Brexit and increased competition from other schools and nursery providers,
Economic downturn, which may lead to the school running at a deficit due to the combination of affordability of school fees and increased running costs,
Increased rates of pay and pension contributions in the public sector,
Insufficient teaching or administrative staff to run the School due to resignation or illness,
Lack of succession planning, and requirement to broaden the skill set within the Council of Management as the School undergoes expansion,
Reputation damage due to unsatisfactory ISI inspection,
Decrease in charitable giving demonstrating inadequate public benefit as a charity,
Declining parental involvement in running social and charitable events as a legacy of the pandemic restrictions.

The Council of Management regularly assesses the risks to which the charity is exposed, agrees how best those risks may be mitigated and takes the appropriate action to manage them. Special responsibility for particular areas of risk, such as child protection and health and safety are allocated to Council of Management members who are given appropriate training. Routine health and safety and risk assessments are regularly undertaken by the S

external risk assessor to undertake a thorough health and safety risk assessment of both its sites; the most recent external risk assessment was carried out in December 2023.

YEAR ENDED 31[st] AUGUST 2023

OBJECTS, PUBLIC BENEFIT AIMS, OBJECTIVES AND PRINCIPAL ACTIVITIES

Objectives and Activities

The object of the company is the advancement of children aged 16 or under by the operation of schools, educational centres and educational facilities. In order to advance this object, the school aims to provide safe and satisfying educational and play facilities and to encourage the participation of parents in activities which pro In furthering this Object, the Council of Management, as charity trustees, have complied with the duty in s.17(5) of the Charities Act 2011 having due regard to guidance concerning the operation of the Public Benefit requirement under that Act.

Principal Activities and Income Sources

Islington. It provides nursery education for children from the age of 2½ to 4 at its Elmore Street building and primary education

During the period, the school had an average of 107 (2022:96) from school fees. Other sources of income are as follows:

Forfeited Fee Deposits and Fees in Lieu of Notice £71,234 (2022: £26,270)
Registration fees £8,800 (2022: £9,800)
Income from after school clubs and music lessons £63,645 (2022: £38,028)
Fundraising income including the annual auction £11,054 (2022: £19,116)

Grant Making: bursaries and assistance with fees

At any given time a number of children are supported through the school with means tested bursaries, assessed by an independent agency, which, in most cases, are worth 100% of the fees. These are pupils for whom it is judged that the small class sizes and but whose parents would be unable to meet the cost of the fees. In the year ended 31[st] August 2023 2 pupils received bursaries representing 75-100% fees at the nursery, the cost of which amounted to £19,225 representing 1% (2022: 3 pupils, £21,189 representing 2%) of gross fee income. The school is looking to continue to provide this benefit to further pupils.

In addition, a hardship fund is available to families within the school should they become unable to meet the fees. In the year ended 31[st] August 2023 one family accessed the hardship fund representing £9,205 in fees (2022: £NIL).

Community Links

The Upper School, continued to collect food donations for the Stoke Newington Food Bank (Trussell Trust) The Vicar sometimes leads an assembly for our children.

orship.

a of Islington Council. The S wider community. The garden, which is a valuable community resource and is frequently open to the public as well as being used r plot.

The nursery children regularly visi

We support the Adventure Playground by hiring their facilities.

We are linked in with the local anti-idling campaign and Clean Air 4 Schools. We are part of the ECO school programme and have appointed a teacher as an ECO co-ordinator who works with children in the ECO committee.

YEAR ENDED 31[st] AUGUST 2023

Plans for the Future

In recent years the School has undertaken an extensive survey of present and past parents to help develop its plans for the future. The School has already made changes to the sessions available to nursery pupils in response to this feedback and has expanded the provision of before and after School care for children at both sites. Overwhelmingly, parents indicated their preference to avoiding the need to change Sch and the 7+ exam.

We are delighted to be expanding into a full Preparatory School for children up to Year 6. Our first Year 4 cohort started in September 2023 and will expand by one year group each academic year until this cohort reaches Year 6.

We have leased additional space in St Ju upper hall and a multiuse space in the lower hall. We are planning additional reorganisation and building work where necessary in the existing school building and at the Nursery in Elmore Stree -use games area and updated play space.

ting our nursery, preWalk accommodating Year 1 to Year 6.

YEAR ENDED 31[st] AUGUST 2023

REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR

Fundraising performance

School should play a full and responsible part in its local

community, striving to pursue its charitable objects both within and beyond the confines of its pupil population. The majority of fundraising is for the benefit of other charitable organisations, with the exception of a proportion of income from the School auction agreed annually by the Parent Committee. The auction, organised by the Parent Committee, took place in March 2023. There is currently no long-term fundraising initiative. There were no complaints regarding fundraising activities during the year.

Auction

-five years and the School was delighted

to host it again. The objective is to raise funds for the school and other local charities. The Parent Committee is responsible for organising the occasion and decide annually, in consultation with the Head, on the proportion of proceeds to be given to the school and select the other beneficiaries on the grounds that they complement the objects of the school. The March 2023 Auction raised £1,450 for the Friends of the Rosebowl youth project on the Marquess Estate (2022: £3,783), £1,450 for Urban Hope, a youth and community project in Islington (2022: £3,783) and £579 for the Turkey Mosaik Foundation (2022: £1,376 DEC Ukraine Appeal).

Wheelies

In the summer term the children undertake their main fundraising activity of the year, a sponsored event known as Wheelies. In May 2023 the children raised £955 for The Literacy Pirates (2022: £1,937 for CPotential).

Other

A number of other fundraising activities occur throughout the year including homeless project, Comic Relief and Pyjama Day raising funds for Young Minds.

Fundraising events attended by pupils and parents generated funds which supported the following charities:

		2023	2022
		£	£
Charitable Organisations
Friends of the Rosebowl -	Marquess Estate - Auction	1,450	3,783
Urban Hope Auction		1,450	3,783
The Literacy Pirates - Wheelies		955	-
CPotential -Wheelies			1,937
Trussell Trust		925	-
Turkey Mosaik Foundation Auction		579	-
DEC Appeal for Ukraine	Auction	-	1,376
		550	1,056
Comic Relief		273	165
Young Minds		166	-
Children in need		-	133
Summer Fair Outreach		-	32
		---------------	---------------
Total		6,348	12,265
		---------------	---------------

Staff

uing

success of the School.

Investment performance

In addition to a deposit account, the School holds a number of long-term deposits. The average rate of return was 0.7% (2022: 0.09%).

YEAR ENDED 31[st] AUGUST 2023

FINANCIAL REVIEW AND RESULTS FOR THE YEAR

Income for the year totalled £1,798,435 (2022: £1,506,636) and expenditure amounted to £1,771,912 (2022: £1,558,046), resulting in a surplus of £26,523 (2022: Deficit £51,410).

Fee income for the academic year amounted to £1,626,218 (2022: £1,408,094) after deducting the cost of bursaries, discounts and assistance with fees of £33,470 (2022: £23,614). Other income was received from a number of sources. Income received from forfeited fee deposits and fees received in lieu was £71,234 (2022: £26,270). The School continued to receive funds from Islington as part of early years education entitlements for 3 and 4 year olds amounting to £167,536 (2022: £182,704).

Staff costs, which are always the S 255,858 (2022: £1,149,983) representing 77% (2022: 82%) of net fee income. The School continued to develop its management team structure and recruit high quality staff members.

Management accounts are prepared termly and all variances from the annual budget are investigated and reported to the Council of Management. The Council of Management reviews the financial viability of the School on a termly basis including future pupil numbers, staffing, expenditure, cash balances and free reserves

Cash at bank and in hand totalled £1,886,778 (2022: £2,123,609) at 31[st] August 2023.

RESERVES POLICY

At 31[st] August 2023 the total reserves of the charity were £2,113,549 (2022: £2,087,026). All reserves are unrestricted and include free reserves of £1,222,169 (2022: £1,450,905), designated funds for fixed assets of £847,140 (2022: £582,676) and bursaries £44,240 (2022: £53,445). The Trustees aim to build a sufficient level of free reserves to repay fee deposits, to cover approximately , to undertake maintenance and development of School facilities and to provide the Trustees with sufficient financial flexibility to respond to strategic opportunities as they arise including the planned School expansion project. As such the Trustees consider the current level of reserves to be in line with the requirement.

INVESTMENT POLICY

Investments are cash deposits as, despite the relatively low returns, the Trustees consider this approach currently poses less risk than other forms of investments. This position is reviewed regularly.

TRUSTEES ANNUAL REPORT (continued) YEAR ENDED 31[st] AUGUST 2023

The Trustees (who are also for the purposes of company law) are responsible for accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and the application of resources, including the income and expenditure, of the company for that period. In preparing these financial statements, the Trustees are required to:

select the most 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;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006

They are also responsible for safeguarding the assets of the charity and ensuring their proper application under charity law and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RELEVANT AUDIT INFORMATION

Insofar as each of the Directors, as members of the Council of Management, at the date of the approval of this report is aware is unaware. Each member of the Council of Management has taken all the steps that they should have taken as a member of that body in order to make themselves aware of the relevant audit information and to establish at information.

Approved by the Board of Directors at its meeting on March 2024 and signed on its behalf by

Danielle Dufey Chair

YEAR ENDED 31[st] AUGUST 2023

Opinion

ended 31 August 2023 which comprise the

Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

31 August 2023 and of the charitable

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant ical 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 trustee' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charitable Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trust Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

ludes the strategic report and the
prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
strategic report and the
accordance with applicable legal requirements.

YEAR ENDED 31[st] AUGUST 2023

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the Report (which incorporates the strategic report and

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept by the charitable company; or
the charitable company financial statements are not in agreement with the accounting records and returns; or review of minutes of management committee minutes; or
ration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of trustees for the financial statements

set out on page 8, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whethe a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and industry, we identified that the principal risks of non-compliance with laws and regulations, company law and charity law applicable in England and Wales, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and Charities Act 2011.

risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates. Audit procedures performed by the engagement team included:

Inspection of correspondence with regulators and tax authorities;
Discussions with management including consideration of known or suspected instances of noncompliance with laws and regulation and fraud;
Reviewing minutes of Council of Management meetings;
Identifying and testing journals; and

Challenging assumptions and judgements made by management in their critical accounting estimates.

YEAR ENDED 31[st] AUGUST 2023

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Co website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Siobhan Holmes (Senior Statutory Auditor) For and on behalf of Haysmacintyre LLP, Statutory Auditor Date: 0 8 March 2024

10 Queen Street Place London EC4R 1BE

STATEMENT OF FINANCIAL ACTIVITIES (Including an Income and Expenditure Account) YEAR ENDED 31[st] AUGUST 2023

		Notes	2023	2022
			£	£
INCOME FROM:
Charitable Activities
School Fees Receivable		2	1,626,218	1,408,094
Income From Ancillary Trading		3	143,679	74,098
Other Trading Activities
Fundraising Events		4	11,054	19,116
Other
Other Income		5	3,505	3,417
Investments
Bank Interest			13,979	1,911
			-----------------------	-----------------------
Total Income			1,798,435	1,506,636
			-----------------------	-----------------------
EXPENDITURE ON:
Raising Funds
Fundraising Costs			2,257	2,068
Financing Costs			305	272
			_____	_____
			2,562	2,340
Charitable Activities
School Operating Costs			1,769,350	1,555,706
			----------------------	----------------------
Total Expenditure		8	1,771,912	1,558,046
			----------------------	----------------------
Net Surplus / (Deficit)	Movement in funds		26,523	(51,410)
RECONCILIATION OF FUNDS:
Unrestricted funds brought forward at 1st
September 2022			2,087,026	2,138,436
			----------------------	----------------------
Unrestricted funds carried forward at 31st
August 2023		13	2,113,549	2,087,026
			----------------------	----------------------

The Statement of Financial Activities incorporates the Income and Expenditure account. There are no other recognised gains or losses other than those shown above.

The notes on pages 15 to 22 form an integral part of these financial statements.

BALANCE SHEET AS AT 31[st] AUGUST 2023 COMPANY NUMBER: 5443050

ALANCE SHEET S AT 31st AUGUST 2023 OMPANY NUMBER: 5443050
	Notes	2023	2022
		£	£
FIXED ASSETS
Tangible Assets
School Land, Buildings and Equipment	9	847,140	582,676
		------------------	------------------
Total fixed assets		847,140	582,676
CURRENT ASSETS
Debtors	10	23,547	13,578
Cash at Bank and in Hand		1,886,778	2,123,609
		----------------------	----------------------
Total current assets		1,910,325	2,137,187
LIABILITIES
Creditors: Amounts falling due within one year	11	(469,916)	(464,837)
		----------------------	----------------------
Net current assets		1,440,409	1,672,350
		----------------------	----------------------
Total assets less current liabilities		2,287,549	2,255,026
Creditors: Amounts falling due after more than
one year	12	(174,000)	(168,000)
		----------------------	----------------------
TOTAL NET ASSETS		2,113,549	2,087,026
		----------------------	----------------------
THE FUNDS OF THE CHARITY
General Fund		1,222,169	1,450,905
Designated Funds:
Fixed Assets		847,140	582,676
Bursaries		44,240	53,445
		----------------------	----------------------
TOTAL UNRESTRICTED CHARITY FUNDS	13	2,113,549	2,087,026
		----------------------	----------------------

The financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board March 2024 and were signed on their behalf by:

Danielle Dufey Chairman

Dawn Brindle Director

The notes on pages 15 to 22 form an integral part of the financial statements.

STATEMENT OF CASH FLOWS YEAR ENDED 31[st] AUGUST 2023

	Notes	2023	2022
Cash flows from operating activities		£	£
Net cash provided by operating activities		94,051	137,463
		------------------	------------------
Cash flows from investing activities
Interest income		13,979	1,911
Purchase of tangible fixed assets	9	(344,861)	(235,683)
		------------------	------------------
Net cash used in investing activities		(330,882)	(233,772)
		------------------	------------------
Net decrease in cash and cash equivalents in the	year	(236,831)	(96,309)
Cash and cash equivalents at 1st September 2022		2,123,609	2,219,918
		------------------------	------------------------
Cash and cash equivalents at 31st August 2023		1,886,778	2,123,609
		------------------------	------------------------
Reconciliation of net movement in funds to net
cash flow from operating activities
Net surplus / (deficit) for the year per SOFA		26,523	(51,410)
Depreciation charge for the year		57,805	18,305
Loss on disposal of fixed asset		22,592	786
Interest income		(13,979)	(1,911)
(Increase) / Decrease in debtors		(9,969)	577
Increase in creditors falling due within one year		5,079	147,116
Increase in creditors falling due after more than		6,000	24,000
one year
		------------------------	------------------------
Net cash provided by operating activities		94,051	137,463
		------------------------	------------------------
Analysis of cash and cash equivalent
Cash in hand		216,792	62,963
Notice deposits		1,669,986	2,060,646
		------------------------	------------------------
Net cash provided by operating activities		1,886,778	2,123,609
		------------------------	------------------------

The notes on pages 15 to 22 form an integral part of the financial statements.

SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 31[st] AUGUST 2023

1. ACCOUNTING POLICIES

a) Basis of Accounting

The financial statements are prepared under the historical cost convention. The format of the financial statements has been presented to comply with the Companies Act 2006, FRS102 The Financial Reporting Standard applicable in the UK and Ireland and the Statement of Recommended Practice Accounting and Reporting by Charities (Second Edition, effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS102.

General information

The Charity is a company limited by guarantee, incorporated in England and Wales (company number: 5443050) and 77 Elmore Street, London, N1 3AQ

Going concern

nd contingency planning is sufficient to ensure the ability of the School to continue as a going concern for the foreseeable future, being at least twelve months from the date of approval of these financial statements and therefore have prepared the financial statements on a going concern basis.

Significant judgments and sources estimation uncertainty

In the application of the accounting policies, Trustees are required to make judgement, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision 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 accounting policies have been applied:

b) Income

i. School Fees receivable and similar income are accounted for in the period in which the service is provided. continuing activities.
ii. Registration fees are non-refundable and are credited to income when received.
iii. Fee Deposits are included as a liability until refunded or, on ceasing to be refundable, are credited to income. Advance fees are credited to income as and when they fall due.

c) Donations and grants

Donations and grants are accounted for as and when entitlement arises, the amount can be reliably quantified and the economic benefit to the School is considered probable.

SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 31[st] AUGUST 2023

d) Income from other trading activities

Fundraising income, including income from the annual auction event, is recognised in the period in which the goods are sold or the services are provided.

e) Investment income

Investment income from bank balances is accounted for on an accruals basis.

f) Expenditure

Expenditure is recognised as soon as the related liability is incurred and has been classified under headings that aggregate all costs relating to that category. Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to the expenditure. Value added tax (VAT) irrecoverable is included in the relevant costs.

i. Employment benefits, including holiday pay, when applicable, are recognised in the period in which they are earned. Termination benefits, when applicable, are recognised in the period in which the decision is made and communicated to the relevant employee(s).
ii. Expenditure on raising funds comprises fundraising costs and finance costs.
iii. Expenditure on charitable activities comprises expenditure directly related to the provision of education and administrative support costs and costs relating to the governance of the charity.
iv. School support costs comprise the salary cost of administrative staff, other associated overheads and depreciation attributable to these activities.
v. legal costs and all costs of complying with constitutional and statutory requirements, such as costs of Board meetings and of preparing the statutory accounts.

g) Funds

General funds comprise the accumulated surplus or deficit from the Statement of Financial Activities which is not restricted nor designated funds. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

Designated funds comprise funds 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) Tangible Assets and Depreciation

i. The freehold property was originally stated at a valuation made on 31 August 1995 within the original charity, e 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.
ii. New buildings and extensions to existing buildings together with any furniture and equipment purchased are included at cost.
iii. Assets with a cost of £500 or more are capitalised
iv. Depreciation is provided on all tangible fixed assets retained for use by the School at rates calculated to spread over its expected useful economic life as follows:

Depreciation is not provided on capital work in progress until the assets are in use. Freehold land is not depreciated.

SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 31[st] AUGUST 2023

(h ) Tangible Assets and Depreciation (continued)

v. The carrying values of tangible fixed assets are reviewed for impairment in accordance with the requirements of FRS102.

Freehold Land and Buildings over 100 years on cost of freehold building Property Improvements Over 4-100 years Fixtures & Fittings Freehold various rates, according to each individual asset Leasehold Property over the period of the lease Leasehold Property Improvements over the remaining period of the lease Fixtures and Fittings Leasehold over the remaining period of the lease Furniture & Equipment over 4-10 years

i) Financial Instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised with the exception of investments which are held at fair value. Financial assets held amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and provisions.

i. Debtors

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

ii. Cash at bank and in hand

Cash and cash equivalents includes cash in hand, deposits held at banks and, when applicable, other shortterm highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities.

iii. 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 amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

j)

Pension Schemes

Prior to the commencement of auto enrolment on 1[st] November 2015, the charity offered a defined contribution, stakeholder pension scheme to eligible staff. The assets of this scheme are held separately from those of the charity. Following the introduction of auto enrolment this scheme is now a closed scheme to new members and staff defined contribution scheme. Pensions costs charged in the Statement of Financial Activities represent the contributions payable into both schemes by the Charity during the year.

k)

Operating Leases

Rentals paid under operating leases are charged to income on a straight line basis over the lease term. Where applicable, benefits received and receivables as an incentive to sign an operating lease are similarly on a straight line basis over the lease term.

THE CHILDREN’S HOUSE SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 31[st] AUGUST 2023

2.	SCHOOL FEES RECEIVABLE
		2023	2022
		£	£
	Gross fees receivable	1,659,688	1,431,708
	Less:
	Bursaries and other awards	(33,470)	(23,614)
		----------------------	----------------------
	Net School fees receivable	1,626,218	1,408,094
		----------------------	----------------------
3.	INCOME FROM ANCILLARY TRADING
		2023	2022
		£	£
	Forfeited Fee Deposits and Fees in Lieu of Notice	71,234	26,270
	Registration fees	8,800	9,800
	After school clubs and music lessons	63,645	38,028
		---------------	---------------
		143,679	74,098
		---------------	---------------
4.	FUNDRAISING INCOME
		2023	2022
		£	£
	Annual Auction	8,055	15,825
	Income From Other Fundraising Events	2,999	3,291
		---------------	---------------
		11,054	19,116
		---------------	---------------
5.	OTHER INCOME
		2023	2022
		£	£
	Other	3,505	3,417
		---------------	---------------
		3,505	3,417
		---------------	---------------

6. TRANSACTIONS WITH RELATED PARTIES

Trustee Remuneration, Expenses and Benefits

No Trustee received any remuneration, expenses or benefits during the period (2022: £NIL).

Related Party Transactions

During the year, the School made a donation to The Friends of Rose Bowl of £1,450 (2022: £3,783) of which

There were no other related party transactions in the year or prior year.

SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 31[st] AUGUST 2023

7. STAFF COSTS

. STAFF COSTS
	2023	2022
	£	£
Salaries and wages	1,085,736	995,529
Social security costs	101,466	90,354
	46,477	43,841
Other	22,179	20,259
	----------------------	----------------------
	1,255,858	1,149,983
	----------------------	----------------------
Average number of employees on a headcount basis during the year:	No.	No.
Teaching	29	27
Administration	6	4
Domestic	2	2
	------	------
	37	33
	------	------
	2023	2022
	£	£
Aggregate employee benefits for key management personnel (page 1)	288,901	308,328
	----------------------	----------------------

One employee had gross remuneration excluding pension contributions in the range of £70,000 - £79,999 (2022: Two in the range of £60,000 - £69,999).

8. EXPENDITURE

EXPENDITURE
	Staff Costs	Other	Depreciation	2023 Total
	£	£	£	£
Charitable Activities:
School operating costs:
Teaching costs	1,017,621	137,012	10,253	1,164,886
Welfare costs	-	10,777	-	10,777
Premises	23,864	217,919	47,167	288,950
Support costs (Governance Costs)	-	15,666	-	15,666
School support costs	214,373	74,313	385	289,071
	----------------------	----------------------	----------------------	----------------------
	1,255,858	455,687	57,805	1,769,350
Cost of Generating Funds
Fundraising for current voluntary	-	2,257	-	2,257
income
Bank charges	-	305	-	305
	----------------------	--------------------	---------------------	--------------------
	-	2,562	-	2,562
	----------------------	--------------------	---------------------	--------------------
	1,255,858	458,249	57,805	1,771,912
	----------------------	---------------------	----------------------	----------------------

All expenditure was met from unrestricted reserves.

Other Disclosures

	2023	2022
	£	£
de:
- Audit Fee	15,000	12,300
	------------	-------------

Governance Costs include:

SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 31[st] AUGUST 2023

8a. EXPENDITURE COMPARATIVE

	Staff Costs	Other	Depreciation	2022 Total
	£	£	£	£
Charitable Activities:
School operating costs:
Teaching costs	957,014	110,924	7,460	1,075,398
Welfare costs	-	9,163	-	9,163
Premises	19,852	171,471	10,513	201,836
Support costs (Governance Costs)	-	15,728	-	15,728
School support costs	173,117	80,132	332	253,581
	----------------------	----------------------	----------------------	----------------------
	1,149,983	387,418	18,305	1,555,706
Cost of Generating Funds
Fundraising for current voluntary	-	2,068	-	2,068
income
Bank charges	-	272	-	272
	----------------------	--------------------	---------------------	--------------------
	-	2,340	-	2,340
	----------------------	--------------------	---------------------	--------------------
	1,149,983	389,758	18,305	1,558,046
	----------------------	---------------------	----------------------	----------------------

9. TANGIBLE FIXED ASSETS				Assets
	Freehold	Leasehold	Furniture and	under
	Property	Property	Equipment	Construction	Total
	£	£	£	£	£
COST/VALUATION
At 1 September 2022	429,876	384,848	172,770	266,147	1,253,641
Additions	-	799	64,060	280,002	344,861
Transfer	-	484,802	-	(484,802)	-
Disposals	(13,807)	-	(12,388)	(14,698)	(40,893)
	------------------	-----------------	----------------	----------------	-----------------
At 31 August 2023	416,069	870,449	224,442	46,649	1,557,609
	------------------	----------------	----------------	----------------	-----------------
DEPRECIATION
At 1 September 2022	178,552	353,267	139,146	-	670,965
Charge for the year	8,386	36,885	12,534	-	57,805
Disposals	(5,913)	-	(12,388)	-	(18,301)
	------------------	-----------------	----------------	----------------	-----------------
At 31 August 2023	181,025	390,152	139,292	-	710,469
	-----------------	----------------	----------------	----------------	-----------------
NET BOOK VALUE
At 31 August 2023	235,044	480,297	85,150	46,649	847,140
	------------------	------------------	---------------	---------------	------------------
At 31 August 2022	251,324	31,581	33,624	266,147	582,676
	------------------	------------------	---------------	---------------	------------------

SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 31[st] AUGUST 2023

10. DEBTORS		2023	2022
		£	£
Fee debtors		4,897	2,230
Prepayments and accrued income		18,650	11,348
		----------------	----------------
		23,547	13,578
		----------------	----------------
11. CREDITORS amounts falling due within one year		2023	2022
		£	£
Fees in advance		309,738	337,883
Fee deposits		49,100	34,000
Other taxation and social security costs		22,241	23,983
Professional fees		14,760	11,655
Sundry creditors and accruals		74,077	57,316
		------------------	------------------
		469,916	464,837
		------------------	------------------
12. CREDITORS amounts falling due after more than	one year	2023	2022
		£	£
Refundable fee deposits		174,000	168,000
		------------------	------------------
13. UNRESTRICTED FUNDS	At		At
	1 September	Net	31 August
	2022	Movement	2023
	£	£	£
General Fund (Free	1,450,905	(228,736)	1,222,169
Reserves)
Designated Funds:
Fixed assets	582,676	264,464	847,140
Bursaries	53,445	(9,205)	44,240
	----------------------	------------------	----------------------
	2,087,026	26,523	2,113,549
	----------------------	------------------	----------------------
13a. UNRESTRICTED FUNDS COMPARATIVE	At		At
	1 September	Net	31 August
	2021	Movement	2022
	£	£	£
General Fund (Free	1,718,907	(268,002)	1,450,905
Reserves)
Designated Funds:
Fixed assets	366,084	216,592	582,676
Bursaries	53,445	-	53,445
	----------------------	------------------	----------------------
	2,138,436	(51,410)	2,087,026
	----------------------	------------------	----------------------

T School. The Trustees have also set aside funds from free reserves for the funding of in-year bursaries for families within the School experiencing hardship, where the need arises. The Trustees may alter the amounts allocated to various funds at their discretion in accordance with their custodial duties.

SCHOOL NOTES TO THE ACCOUNTS YEAR ENDED 31[st] AUGUST 2023

14. CORPORATION TAXATION

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to extent that these are applied to its charitable objects.

15. CAPITAL AND OTHER COMMITMENTS

The School had capital commitments of £86,553 at 31[st] August 2023 (2022: £264,731).

The School had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:

	2023	2022
Rental of Upper School Premises	£	£
Under one year	103,000	100,000
Later than one year and not later than five years	98,083	201,083
	------------------	------------------
	201,083	301,083
	------------------	------------------
Other operating leases
Under one year	10,397	16,435
Later than one year and not later than five years	23,468	54,999
	------------------	------------------
	33,865	71,434
	------------------	------------------

16.

The liability of Members, in the event of a winding up, is £1 each.