DAUNTSEY'S SCHOOL FINANCIAL ￿ATEmEMrS FOR THE YEAR ENDED 31 AUGusf2021 Registeml Company No.. 5872694 Charity No: 1115638 DAUNTSEY'S SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 INDEX Page Report of the Governors 2-18 R¢port of the Auditors 19-21 Consolid￿d Statemeni of FiTtancial Activities 22 CoD501idated and Charity Balance Sheets 23 Consolidated Cash Flow Sthtement 24 Notes to the Consolidated Cash Flow Ststeme 25 Noies to th¢ Financial Stat¢rnents 26-42 DAUNTSEY'S SCHOOL REPORT OF THE COVERNORS FOR THE YEAR ENDED31 AUGUST2021 REFERENCE AND ADMINisfRATIVE DETAILS OFFICERS & SENIOR STAFF Head Master Mr M J Lascelles. BA Burs*r Mr W F Ethe15ton, BA. ￿ FCA Further Members of the Senlor M*D*gem¢nt Tu Mr M C B M¢F8rland, BA Mrs A L Jackson, BA MrJ MTyler.BA Mi55 E S Conidaris, Bsc Second Master Ikputy Head- Pastoral Deputy Head- Academic Resigned 31.08.21 Head of IA)wer Schwl R¢si8ned 3 1.08.21 Clerk to the Governors and Cornpany Seerrfiry Mr P M A Noke& MA. MPhil Addres$ Dauntsey'$ School West Lavinyon Devizes Wilishire SNIO 4HE Website wwiY.d8untseys.or8 mail contstl PROFESSIONAL ADVISERS BAnkers Lloyds Bank pl¢ 38 Market Plxe D¢vizes Wiltshire SNIO IJD Solltlton Royds Withy King LLP 34 Regent Circus Swindon SNI IPY Auditors Haysmacintyre LLP 10 Queen Street Pla London EC4R IAG DAUNTSEY'S SCHOOL REPORTOF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST2021 REFERENCE AND ADMINISTRATIVE DETAILS COVERNORS Dauntsey's s¢1￿*1 I'lhe khwl") 15 a ¢(xnpany registered ￿nder thecoMp￿1¢5 Act 2006 (company number 5872694). It is a company limited by guarantee: the liability of Membe￿ of the ￿MpanY is limlted ￿ £10 each. It is a]so a regist¢r¢d ¢harily (Charity number 1115638). The Gove￿￿15 of Dauntsey's S¢hool are the In￿leeS of the charity. and both the dir¢¢¢ors and ihe members of the cornpany. During the year ended 31 August 2021 th05c serving were as follows.. Nomil￿ledbY The Mercerj. Compony Mrs L F Walsh Warin& BA Mr F W SearlK>rough trPJ Lough, MA MrD W Goodhtw. MA Mr l D PaTk¢r, BSC, MBA Mrs E A Light, MA Mr A H Collins. Alw MrG W Horgan Chairman Resigned 30 Novcrnbrr 2020 Resigned 31 December 2020 Appointed 01 January 2021 Co-wedby ihe Goverhing B Mr R M Bemard, CBE Brigadier P Rawltn5. MBE Air Chief Marshal Sir Richard John& GCB. KCVO, CBE DT R E L Quarffll, BA, MA, D Phil MrN J S Fisk, BA, ACA MT N B Elliott, QC MT5 V P Nield, BS¢, MBA Mr5 S R Broadhead. BS¢ Mr l T Thomas, BS¢, DMS Mr5 K G Bruge& MA Mr5 J L Green. BA MrN J IknlrnaTh. Bsc. MRICS MrA R E Clifford. MA. FCA Mr A Buhari OLY Mr C H de N Lu¢as. FRICS. FAAV Resigned 31 Dcccmber 2020 Resi8ned 31 December 2020 Resigned 30 September 2020 Vice thairnian ApEM)inkd 03 D¢c¢mbBr 2020 COMMITTEES Under the provisions of a Scheme of Man￿¢M¢nt and Dele8ation there arr five ¢ommiu¢¢s of ¢he 8overnin8 1¥)dytr as follows.. Fi#ance and General PuTpose5 Committec Estht¢s, Infrastn]cthre arml Assets Committee Audit and Risk Commillee Edu¢aih)n Committee Chainnan Mr l T 1kn9s ainnan Mr C H de N Lucas CThairnian Mrs S R Broadhead Chairman MT D W Goodh¢w until 31 Dxernbcr 2020 Repla¢cd by PAI G W Horgan CILairn18n Mr N B Elliott GovernarKc. Compliancc and Safeguarding Committee The governin8 body meets three times a year. 0￿¢ ea¢h 3¢ademic ienn. The Finance and Generdl Purposes Committee nomially me¢ts twice each terrn; the other comminees meet on¢e a lerni or as necessary. Most meetings take place at the Schwl. DAUNTSEY'S SCHOOL REPORT OF THE GOVERNOILS FOR THE YEAR ENDED 31 AUGusf 2021 Introduetlon The GovemoTS preseni ilieir annual rep)rt and audited financial Maiements for the year ended 31 Augusi 2021 in compliance with the Currentsta￿l￿ry requircrnents forcompanies and chariiiesand the School's Memorandum and Articles of A$s￿lItiOn. This report. tO8¢ther with th¢ PTettding pa8¢s. incorpoTat¢5 the infomiation required for th¢ Dire¢tors' report under the Companies Act. Rtftrenee *tsd *dmlnistr*tlvt Infom*tlon Daunts¢y's S¢knl wws OTigiDally found¢d in 1543 undu the will of Aldern￿￿ William Daunts¢y 8nd r¢found¢d, wider Charity Commission scheme, in 1891. li was Incory￿ra￿d on I l July 2006 as a company limiied by guarantee and regi5tCTcd at Cornpanies House. number 5872694. It is also re81ster￿ with the Charity Commission under charity nurnbcr l 115638. The Governor4 principal executive offlcers and advisers. tO8ether with contsct detail& are Set out on the preceding p8g¢s 2 and 3. Govtrning doeumetht The Sthool is 8overned by the 2006 Memorandum of AS￿LatIon and by the 2006 Articles of As%yciation ￿ amended. Govtrnlng body The Oovemors of Dauntsey's Schwl are listed on wo8¢ 3. With a view to imptoved 8ovemance, the Full B￿rd agr¢ed on 25 June 2020 to reduc¢ the maximum number of govemots from twentyvone to eighteen by F¢bruary 2021. this Vas achieved. Governor5 may stay in post for a total of ￿tIve Yea￿ but this may be cxtended in extenuating circumstance5. The tenn of the Chairnian of Governors, who ha5 been a gov¢rnoT sin¢¢ 2006. was ext¢nd¢d in th¢ best interests of Continuity at a tim¢ when there had been an influx of new govemors. Re¢rwitm¢nt ond tr8iDing of GovernDrJ New governors are oppointed a¢ meetings of the full ih)aYd In the case of those nominats4 appointments are made based on approved nominatiorts. All appointhients are made based on identified fteeds. taking into considetation existing skills on the 8overnin8 body. A formal induction programme is in place which includes vi51ting the School. being provided with relevant documentstion and meding key g0Ven￿rS and staff. All governors are encouraged to attend appropriate seminars and tr8initJg events. Or￿n1$*t10￿ maDAgetnent The Governors are legally responstble forthe overall administratio￿ managa￿ent control ofthe School. In accordan¢¢ with the 2006 Scheme of Managemeni and Delcgation those responsibilities are mainly executed through the Committees identified on ihc preceding page. The day to day m4na8emcnl of the Scht)ol is dele8atcd kn the Head Master #nd Bursar, supported by the Senior Management Team. The Head Master and Bursar. together with some member5 of th¢ S¢ni()r Managemenl Team, attend medings of the goveming body and the W￿1￿$ committe¢ meetings. The Hcad M&%ter's and Senior Management T¢￿Tr,$ rcmuTmtion is considered by the governing body's Finance and General Purp05¢5 Committee. Th¢ Committe¢'s pra¢tiC¢ IS to wnsider benchM￿king 5urv¢ys by YaTiOUS org8ni5ati005 regarding r¢mun¢ration in indep¢ndent ￿l￿)01s. Rewmmendations are th¢n mad¢ to the Full Board foT a fin81 decision. Group structure relationships The S¢hcKJl h35 two wholly owned nowharitable subsidiary cl Also &d$ trustee of Dauntsey Scknol Foundation, • ¢harity {numb¢r 309480}. in {l)the administration and managementof the property belon8in8 to that charity which ¢onstiWl¢s pernianent endowment. and (2) the administrdlion ofsixteen ￿0¢lated prize and other fund5. Dauntsey School Foundation is the pre•in¢oryh)ration charity established in 1891 when Dauntsey's School was refound¢d. The permanent ¢ndowment cO￿Pri￿5 th¢ histOTi¢ core of th¢ School site aquired in 1893-95. the present site of Dauntsey Academy Primfftry School. an annual rtnt charge of £2.IKIO over vrtain properties in the City of Lon¢kn. C8tiDn Dauntsey's S¢hool provides ¢duuiion in West IAvin8ton for boy5 and girls fiom ages I I to 18 uiilisin8 a main Site at West Lavin8ton and the nearby Manor H￿5¢ t5thtc at Littlcton Pancll. ObJee¢lves for the year The focus contrnucs to putsue ouisianding a¢ademi¢ a¢hievement. the promotion of independent Icarrting and sustaininB the exceptional levclsof pupil involvern¢nt in cxtra•¢urri¢uiaradivilies. The school remains committed towiden its access further for the benefLI of the community. particularly in respea of mainiained se£ior primary schools and their pupils. Despite the appointment of a 'Head of Partherships. in 2020, progress was hampered due to the conlinuing siiua¢ion wi¢h Covid-19. Sch￿1 facilities are also utilised for educaiional purposes by large numbers of children from abroad during the summ¢r re¢ess, when not otherwise nttded for its own pupils. However. Ihe ¢othtinuing Covid-l9 restrictions meant thai Il)e SCI)￿)1 ivas unable to weleome pvpils frorn overseas during the summcr. Grant maklng po15cy Dauntsey's is ¢ommitted io promoiingand rewarding excellence in a wide ran8¢ ofareas. To¢omplement this, scholarships can be offered to pupils who demortstfdte how their talents would bcnefrt from studyin8 at the School. Scholarships are avablable to reco8nise academic. sport. performing arts and music excellen¢e at each pointof entry. Scholarships are given 'J)eeds blind, lo a maximum of IO% of frts. Thert are m¢ans•*M¢d bursaries available 10 supplement awanls. There is an objective in the School's goveming document to provide a minimum of 2*47 of net fees payablc for means-*sted bursaries. The DauThtsry's BILrsary Schernt is intended ts a5SiSt in ra5C5 where the fees owt beyond lh¢ mean5 of a potential pupil's parenis or guardians. In such ¢8ses, it is the SclK)01's ￿lIcY to provide IW• Bursartes and it is necessary for applicants to demonsiraie the inability io Corttribuie any level of fee. The scheme provides for up ￿ three free day or boarding pla¢¢5 for ¢a¢h Ye￿ group. Bursori¢$ gre availabk to those WIM) rneel our Minimum educational critrria for entry and are subject yearly rtNancial re*valu*iOTt. Bursaries are awarded at the discretion of the C*)vcrnots. Bursari¢s are 8lyo available fv existing pupils are given io assist in cases of sudden. unforeseen short-terrn financial need. Parent5 or guardians with a child al Sc1K￿l whose financiai ¢ircumsian¢¢s suddenly Change may appty for a bursary. Such awards are meansviesi¢d, subj¢ci to th¢ availability of fi￿dIng and yearly review. The Old Dauntseians. Associaihon Bursary Fund providcs additional burwial pupils of ihe Sthwl. Governor5 8Teatly appreciate the help provided from Old Dawhtseians and the Daunts¢y's S¢hLW)I Parents, Association with fundraising and other octivitits througl¥)ut the year. Connected ond rtl*ted eDtldt5 These finan¢ial stst¢ments incorwKate the re5ult4 assets and liabilitirs of: DAUNTSEY'S SCHOOL REPORT OF THE GOVERNORS FOR THE YEAR ENDED31 AUGU￿2021 Dauntsey's School Enterprises Limited Jolie Brise Limited Dauntsey School Foundatio - a trading subsidiary of the School (see Thote J) - a trading subsidiary of the School (see note 3) - followng incorrK>rdtion. the 29 Au8USt 2006 Charity Commission scheme includes a uThiung dire¢tion Dauntsey's School Library Servi¢es Limited was previ(￿dY a trading 5ub5idi4ry of the &hool' il w4s dissolved on 29 Septembcr 2020. Th¢ folloi¥Èn8 related entities have not bcen ineorprated in these financial ststements as th¢ir ¥tiviti¢s ar¢ not under th¢ control of ihe Governor5 of Dauntsey'5 Sch(x)l.. Dauntsey's School Parents. Asso¢iaiion Dauntsey Academy Primary School The Old Daunts¢ians' Asso¢iation Bursary Fund The Old Dauntseians. Association Welfare Fund The Old Dauniseians. Associaiion Publi¢ b¢llefit Aimx and intended ijDP%Ct The C*)veming Body. as the charity trustee& has complied with theduty in s.17 of the Clwities Act 2011. having had due regard to the general and relevani su￿$¢¢￿ Charity Commission guidan¢¢ con¢ernin8 the operation of the Public Benefit requiTem¢ot under th¢ Chariti¢s Act. In addition to its key pufpose of providing a fwst-¢lass education to all pupils. Dauntscy's School is committed to making skgnifjcant and enduring impact in tern)$ of public benefkt. Our Foll￿ is to provide access to the School via a E￿JrSary scheme which provides fully furbded places for those who can afford to make no wntribution to the cost of private education. Through this scheme, we are able to sustain a genuine OP￿rtUnIty to all, including those in povety, to benefit. Our ability to provtde such opportunities is constrained by fllwKial reality whi¢h in practice me￿S that we can afford to provide a maximum of 21 boarding or day p]ac¢s within th¢ khwl. In-year atta1[￿naLt of this aim is dethiled within 'Achievements and Perfomian¢e for the Year. under the subs¢¢tion 'Owational perforntance, on pa8e 7. On 8 broader front, the School is cornmittcd to its wider role withrn the LY)mmunity by providing ancillbry or in¢identsl educational 8ciiviiies and other ￿50¢lated adivities. Dawits¢y'5 reaches out regularly and routinely to local primary 5cIK)ols to share its facilities and siafT expertise. A more complete description of Daunt5ey's cotnmitment towards d¢liv¢Till8 public beneflt on an ortgoing basis. is detailed within 'A¢hievemenls and Perfom)an¢¢ for the Year, under the subsection 'Communtty proBrammes, Outreach and Public Benefit, on page 12. STRATEGIC REPORT Strnt¢gi¢ revitw x•d d¢wdopmeDt plannkng A strategy day was held in the Autumn ierni 2019 and a Future Planning Group also met in the Summer ternt 2021 to consider the School'5 prioritie5. Regrettably signifiant progrtss has noi been made. as govenh)rs continued to fo¢ys on matters relating lo the Covid-19 pand¢rni¢. Some capital Lnvestmeni was made to enhance the counselling p￿vISion i the School. Management time continuedto focus on ensuringthepupils, education and wellbeing is achieved to the highest stsndard in a safe as p)ssible environment. DAUNTSEY'S SCHOOL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST2021 ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR CDvi&19 The year 2019-20 was unprecedented due to the Covi(k19 P￿emie. with the sel￿11 being c105ed frorn 20 March to 31 August 2020. The School welcomed everyone back, within the Covid-19 secure bubbles. in September 2020 with extensive heaiih and Safety initiatives in pla¢e io redue¢ th¢ ￿￿￿¢141 spread of th¢ virys. Th¢5e included.. New external hand washing r￿llitieS All pupils. tempernwres checkd ai the beginning of ihc day Sanitising wa5 carried out behvecn I￿￿5. additional cleanin8 ar(Mmd the School b)ok place Perspex 5¢reens were sited wh¢r¢ S￿la1 distst)¢sng was gn issue e.g. dining hall. liFffary. classroorns. school shop A one-way system was in operation in the ¢orridoTS A takeaiway service was introduced in the dining hall Mosks were worn on the buses and in classrooms in line with government advice Regular liai5in8 with the local health authoriiies The Governrn¢nl announced a further lockdown on 4 January 2021. the School siie closed ￿ pupils for eight weeks except for thos¢ of key workers and a small nymberof boarders wlw were unabk 1￿Me. DuTITh8 this time. the acadcrnic staff werc proud to provide successful on-line tuitloll USlllE Microsoft Teams across the whol¢ ¢urriculum. A skeleton number of support staff continued working on site. All those who could work from home were required to do so. Microsoft Teams was also used for communication which helped tt> mairttain stafy mornl. The School logk advantage of th¢ Coronavirus Job Reiention S¢h¢me and up lo 118 ¢mpk)yee5 were furloughed (on iemporary leave) during the period from 4 January to 8 March. All ¢mploye¢s were paid at their full rate of pay. The School reopened on 8 Mar¢h 2021 with the previow Covid-19 me•wr¢5 Still in place, as well a5 the following meèsure$'. All pupils werc testcd ¢)n site 3 trmcs in the fiT5t 10 day5 of reopcning Lateral flow kits were issued to pupils and staff for home testin8 Mask5 were worn wh¢n rnoving arwnd the S¢1￿01 All the Covid-19 saf¢ty measures stayed in plx¢ foT the remainder of th¢ ¥ademi¢ year. Operational perf•rm*nee At the end of the academi¢ year 2020-21, the pupil Toll numbered 825 of whom 510 We￿ day pupils 8Dd 315 were b¢)arders 12019-20.. 8i2. 5211311). The intertsl itl Dauntsey's rcmains Strong with the Sep*mber 2021 s¢hool roll totsllin8 865 {519 day pupils and 346 1¥)ardersl. The pupil roll is consistent with the S¢hool's tkv¢lopm¢n¢ Plan at)d should 8¢nerdte an operating Surplus for r￿InVeStMent in the future. For Academic year 2021￿21. CM)vernors a8reed that there would be M inC￿ase in the fees. The fres for intemational tr*)arding pupils were therefore £l2.525. UK boarding pupils £10.850 and day pupils £6.550. Due tts the School being shul for eight w¢¢ks of lh¢ spring tem), a redu¢ed fe¢ was ¢harg¢d for the period of ihe ¢105ure. Durin8 the year. the School provided £487.470 in r¢sp¢ciof means tested bU￿rI¢s. This Signifi￿n¢1Y excttded theobjectiv¢ in ih¢ S¢hool'sgoverniNg document io provide a minimum of 2% of fees payable for rncans-iested bursaries {£361,1701. Including funding from other sources. * total of £513.322 was expended bursaries. A5SiStancc was provided tts 47 pupils of wh)m 19 benefiled from a full remission of fres. The Governor5 are committed to welcorning pupils from all financial backgrounds, and the IOOYO Bursary Policy ¢ontributes to the objtttive of widening 8CCtss to the S¢h¢)ol. Bursary suppon opponunities and appli¢ation procedures are publicised on the Scb(xJl website. For existing pupils. cascs of sudden, unforeseen financial need may justify assistance from the SclMJoI. This tKJlicy ensyr¢s stability and continuity of cducation for pupils èlrc ttertding the School atld demonstrates our commitmeni ￿ their excellent p&thral care. Scholarships tot8llitt8 £388,2￿ were 8wv&d to 193 pupils. based on thetr educational merit and ￿tential. ScholaTthips are'needs blind. and awards are mad¢ ai I1+, 13+ and 16k. These ar¢ based on academic ability eY&denced by examinatkon perfomiance or special talent in rnu$i¢, drama and as evid¢n¢ed at inteEview and audition. The proBre55 of pupi15 recciving scholaYship$ 1$ reviewed to enwre that awards remain apP￿p￿at¢. Academically, the School 8chieved ex¢elleDI 'Te￿be1 Assessed Grades. (8$ detailed in Academic Life). The extra- curricular a¢tiviiies and events were adapted due io Covid-19 restrtaions. The S¢hool supw¥rt¢d lo¢al primary 5th001s by DAUNTSEY'S SCHOOL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGU￿ 2021 providing staff outreach support ￿ much p055ible where ujnditions allowed. Governor5 continue to allocate resources to maintain and improve the Sch￿1,5 cxccllcnt faciltiics. A st8nificantly increased level of refurbishment works, athd pwlanned maintenat)ce programmes were undertaken to catch up with those not carried out in the previous summer. A minor upital proiecr was underthken to extend the Medical Centre. Ac8d¢mic lif¢ The School is proud of its academic a¢hievements and strong record of suc¢￿5 its naiional examination$. The ¢urri¢ulum is broad ènd balanced. offerirtgthe opportunity to Styjdy an extensive Tange of subjects. Lessons 8Te delivered by specialist teachers in a challen8ing. Stimulatin8 environment that is conducive to a rA)sitive. enjoyable learnin8 experience for the pupils. We ore keen to promoie ind¢pend¢nt learnin& enabling pupils to fvlfil th¢ir trt)t¢nti81 pnd d¢v¢lop 8 I￿ge of key skills thai felt to be esseniial in later life. Thc timetable is very flexiblc at GCSE and A Ixvel. which allow5 pupils the frttdoTn of ehoicc to ac¢ommodatc their different interests and aptityd¢s. W¢ have d¢velop¢d our own compl¢mentary curriculum which begins in th¢ 1st Fom]. This covers topics including ¢utTent affairs. study skills, mindfvlness. ulti￿] thinking, money management Hnd glob81 issues. Initiatives to promote racial. social and ¢ultural diversity are within many areas of the curriculum includin8 History, Complemeniary Curriculum & Drama Studies. The S¢h(x)l aims to t￿￿re that all pupils leave the %hool with the knowledge and io)Is needed io prepare ihem for life in a ¢ulruTally rich and diverse so¢iery. The Board continues to be commit*d to a school wide Cul￿[e where any Tac1￿ or sextst behaviours and micro-agg￿$sl0rtS are idetttified and ?ddressed. In addition to the ￿￿j￿11¢ subjects offered. there art many opportunities for pupils to participate in musical activities. drama productions and sport. Pupils 8re also en¢ouT8ged to join the numerous clubs and societies which are 8 feature of the School. The Lower S¢hool ¢urri¢ulum offus a broad, varied wo8Tamm¢ providing int¢r¢5t and ¢hall¢nBe foT pupils and deliv¢rs the e$sential backgTound forthe VGCSE ¢OUTses studied in lateryears. The three sciences are laughi as separat¢ disciplines and pupi15 Study a range of languages io promotc this important arcaof the curriculurn. The avernge class size is nineteen. Th¢ GCSE Cu￿1¢￿]UM for the 4th 8nd 5th Form pupils is designed to provide the best possible prepgratÈon for life in the 6th Fomi and beyond, with 8 free ¢hoi¢eof their Option￿ subjects. The average class size 1$ sixteen. There are compulsory Core subjects of English Language, English Literature. Mathematics artd Science. irt the latter about 80V• of pupils select three separdte Science5 and the rcrnainder sbjdy for the dual award Science. Thcrc 15 a wide rdnge of optional subject$ from which most pupils ckne four subjects Fxlt the most academic may clxKJse five. The options currently offered arc Art and D¢5ign, Classi¢al Civilisation, Latin, Religious Studie4 Computing. Design and T¢chnology. Fren¢h, Gennan. Spanish, Geography. History. Dyamffj Music, Dance and Physi¢al Edu¢aty)n. Th¢ 6th Fonn ¢￿￿1¢u1￿M 15 desi8ned to provid¢ the best rKwible preparation beyond sch￿1. Pupi15 are th¢refore offered the OppO￿nity for breadth of study with a fre¢ ¢hoi¢¢ of $ubje¢ts as w¢ll as wnsid¢rable opportunity for o¢ademic ¢nri¢hment. The average class siz¢ is nin¢. Tw¢nty-six subjects are offered at A Level; si8nificant time is available for teaching and leaming. This lime means that pupils cart be strel¢hed as mu¢h as possibl¢ in order to explore and leam th¢ subject mat￿r in real depth or help less conf￿ent pupils to improve their knowledge and understanding of the subject matter. Publi¢ examinations for GCSES and A-L¢vels did not tske platt and instead, the exam grades weT¢ based on T¢Kh¢r Assessed Grades ITAGS). The school used a variety of evidence from pupils. wot* to generate the fjnal gtades for each subject. ThLS ¢VLdence included previous exam 8rnde¥ supplementsry summer temi assessments. coursework ortd other work that had Ixen assessed throughout the courses. Oncc dcpdrtmcnts had detennined these grndes. they were subject to r¢vi¢w and moderation by the Deputy Head (Acadernic) and his tew well &s the Senior Mana8ement Tel￿ before betDg submitted ￿ the ¢xamination twrds. Ai A-level. 121 Upper Sixth pupils xhieved 30% A grades. 64Y•%of results a¢ A.. A gr*l¢s, and 8V/o ofthe results w¢r¢ atA* These results meant that 92V• of pupils s￿¢ted¢d in getting into their first ¢hoi¢e of university 2nd 4Yo ijlto their sttond choiet of univetsity. The most popular destinations were Cardiff. Exeter. ma￿h¢ster. Newe&8tle. Bath and University College, tK)ndon. In oddition. pupils also yined pl8¢¢s at Oxfor4 Cambridg¢. universities in the USA. Hong DAUNTSEY'S SCHOOL REPORTOF THE GOVERNORS FOR THE YEAR ENDED 31 AUCUSf2021 Kong and Spain as well as onc pupil WIM) 5ecwed a covctcd degree app￿entic¢shlp. At GCSE level. 330h of the ejitries were awardcd grade 9, 57%gTade5 9-8 and 77% grades 9-7. Academi¢ ombitloD ond intellec¢ual curi(Trsity ar¢ firnily T￿led within the SclLwI. 8nd our aim is to ensure that all pupils ¢on •¢hi¢v¢ examin¥ion Yesults of which they can be justifiably proud. C*reeTS tuld#nr all 3rd Form puprls. incorrrtjrnting rnuliitude of outdoor activities takingplace in a variety of locations. li culminates in a week-long camp. duringthe summer t¢m], at th¢'Oulward Bound, Camp in Aberdovey. Wai¢s. Moonrakers is designed to promote the d¢velopm¢nt ofyoun8 leaders who can play a positive role in society, and kn leach them to recognise kjw ￿ get the best out of th¢￿SelveS and othet individuals and. also howthey foster tearnwork. Duc to Covid-19. the wcek-]ong adventures iTh June 2021. which nonnally take place in Abcrdovey. Wale& were rcor8ani5ed. Instead 'fore5t wjventure,. 'paddle adventure,. 'maritime adv¢ntur¢', and '¢xpedition', t¢y)k place near or on th¢ S¢hcKJI site. The 'Trek to the Stones. is a walk from S¢knl ￿ Ave￿￿ for 4th Forni pupils with an ovemighi camp ￿ All Canning Pupils plan their OWlL rou￿ of either 30+ 40+ or 50+ kms. The pupils are Unaccomp￿lIed, independent and caryins everythin8 they need in the]rn￿kSIck$. They are res[K)n￿b￿ fortheirown naYI8atio￿ campinB. cookin8 and looking alkr thems¢lv¢$ and oth¢r member5 of the group. The Duke of Edinburgh's Gokl Award is the k*Jing ithtrmatsonally recognised youth aw8rd, I￿VidIng OPP￿InItIeS to enjoy new ¢hallenges and leam newskills. With five sections to complete, (Volunteering, Residential, Skills, Physical and Expedition). the Award is as much about or8ani5ational skills that pupi15 develop as it is about the activities they undertakc. The SchcK)I h&$ amund 25 candidates each year enlered at CKJld level. It Wzs necessary to adapt the way that awards were pleted in 2021 owing to Covid-19 but all being well thar will be a to norniality in 2021-22. The Devizes to WestmIn￿¢r cartoe rxe is an annual 12&mile emdurnn¢e over th￿e and a half days in which 10 DAUNTSEY'S SCHOOL REPORT OF THE GOVERNORS FOR THE YEAR ENDED31 AUGUST2O21 Dauntsey's has bcui cnlering tcams Since 1969. The rxc is held ovu th¢ Easier w¢ekend and involves pupils paddlin8 kayaks iii pairs along ihe Kennet and Avon Canal befor¢ joining th¢ Thames at Reading and finishing in front of the Houses of Parliamellt. All crews camp forthree nights along the w8y and help rai￿ mon¢y lowards the Sch(x>l Charity. The 2021 event was cancelled. The Brecons, Challen8e is a triathlon event for Lower Sixth pupi15 in JunE. cncompassinga Iokm ntn with 8SOm of ascent, an 18km mountain bike ride, before eoncluding With an 8km kayak paddle. For 8 w¢ek followin8 the GCSE examination pul￿. Dauntsey's offers a seleciion of 'advenuw¢ and life skills. COYT5¢5 whi¢li provide 5th Forni pupils with stimulating and Pradical learntn8 opporttEntiies and olTer a wel¢oTne ¢ontra4 from the stress of their ¢xaminaiions' they have Proved io be extremely popular. 71ie various and dkvcr5e cour5e5 include Cookery. Sewing. RLSS Lifeguard tiaitting, 'Emergtncy Fhrst Aid and Rescue.. whkch includes canine first aid. Adventures on the Jurassic Coast. Flight Schtr)l ar￿ the Jolie Bris¢ Lifr Skills wurse. On su¢cessful ￿Mpl¢tiOn of the courses. some of which incorporate asse5smcnts. tnany pupils will gain rEcognised certificat￿qua]irICatioDs for their live5 beyond thuntsey'5. The S¢hool's 'Tall Ship, a 8aff-ri88ed pilot cutter, the Jolie Brise. otTers a lull programme of adventurous training ￿ s¢& Jolie Bi'ise is a Category O vessel which meansthat shetan go anywhere in the world atanytirlle subjed io risk 8wssments. All pupils 5peThd 24 hour5 on F#)ard Jolie Bri5e either in the 4th Form or Lowcr Sixth {if new ￿ th¢ S¢hool ai this p)intl. If they enjoy th¢ ¢xperien¢¢. they ¢an join the sailing ¢lub. which celebrated its anniversary during the summer. Members Can sign up for ihe vaiious ¢rnis¢s thai are on off¢r each year. Daunlsey's pupi15 have Sailed Jolie Bi'ise across the Atlanti¢ Octan six limes. the Bay of Bis¢ay ten limes and naVi￿ed up to 200 rniks inside the Arctic Circle. y¢ar. the Easter cruises were caTKelled because of ihE ongoing Covid-19 reMfi¢tions. On¢e ih¢5e were lifted the sunimer cruLSt5 Prov￿ to be very popular. Each cruise ivas a wcek-long. sailing along che South Coast of England 51artin8 from the Hamble and finishin8 in Torquay a[￿ vice versa. The route included sailing around the Isle of Wight, Alderney, the English Riviera. the Cornish coast and the Isles of Scilly. Thi5 ycarJtslie Bri5e added another win ￿ her logt*)ok, the Asso¢iatton of Sail Trainit)g Or8ani5ation {ASTOI Mayflower 410 Small Ship5 Race. sailing froD] southamp￿th to Dartmouih. Thc sailing adYentur¢ trip to Bcmbridge on the Isle of Wight iwk place for the Forni at the end of May. and the 3 Form at the beginnirbg of June. The trsp includes camping and Thwo nights onboard the Jolie Brise. ActivitL¢5 include dinghy sailing Icssons. a day ivith kayaks pathJltbo￿d4 and the opportwiiry w sail on the Jolie Brise. School tripj The School supwrts a wide variety of aucational and sporting trips throughout the year. There are usually omund Nelve intemational irips on offer. Th¢y include skiing, modern languag¢& S￿rt and academic trips. Regrettably very few trips took place in 2020-21 due to Covid-19 and (ravel restri¢iions. Ment*1 health •nd wellbelng The S¢hool provide5 an excellent confidential counselling service forpupils #nd st&ff. A new facility was builr during the summer. $vatlable for co¢Jnsellin8 sessions from Sepiember 2021 onwards. A Mental Health and Wellbeing CoDrdinatorwas aptA)inted, who is tratned in Mentsl Health First Aid and will become an in5tNetor. The role will overseeall aspecrs of mentsl health 8nd wellbeing within the School which will include.. org&ni$ing everhts and iniiiaiives. ¢ommunicaung with parents ￿ help them to under5wJd teen mental health. promoting partherships with local maintained school$and parti¢ipaiing in menth] health nerwoth$ with oth¢rschwls. Tliis initiative 15 funded with the supwjrt of the Mercet5' Charitable FouTthtLOn. Th¢ 'Teen rips, wellbein8 hub is avlilabk for pupils. parents and staff. Jt provldes Sp￿i￿lISt advice on widerstanding odol¢scenct. and creatin8 environments which promotes cmotional wellbeirt& It et)¢ourag¢s tea¢heTS, tutors and par¢nts io work together to promote strong self esteem and emotiona] resilience. this helps youthg people ￿ develop self regulation and emothonal agility to OverC¢￿e the challen8es of life. Membw5hip of this Iiub is also extended free of char8e to Lavington School. Daunts¢y's IS surrounded by nature. and this was the nominated theme for Mental Health Awareness Week, h05ted by the Menral Health Foundation. Th¢ pasioral team ran a xri¢5 of events and initiative5 dtsigncd to ¢n¢￿Tage u$ to r¢fle¢t on DAUNTSEY'S SCHOOL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2021 health and wellbein8 issues. Thue was a ￿ster cOm￿lI10n and a wcll attcnded studcnt forurn which diKus5ed how. a5 a community, we should sllp￿rt each other. There w&$ a serics of parent webinars. infomial outdoor 'walk and tslk, time with iuiors. W¢llbeing Week encouraged the use ofthe mnemoDiC MAGIC (mindful. 8¢1ive. generous. intere￿ed. connectrd) io focus on the fiv¢ factors whi¢h play a Tole in a¢hieving a sense of wellbeiTh8. There were lots of fun activities. each onc linked the fo￿$ areas. Commuthlty pro¥r*mmt& o￿treach *nd pwblle btnefit The School ¢ontinues ¢0 promoR a¢¢¢5sibiliry to the wider community by ptoviding pro8rammes airned at developing pupils. confiden¢e, communi¢ation skills, teamwork at)d the abilities of individuals through $pecialis¢d trachiTr8, coachin8 and or8atti5ed tournamen15. Dauntsey's outreach prosrntntnc is lcd by the Head of Parttterships. Much work has iaken place to tstablish new partncrship5 and evcnts. which will hopefvlly take place in the next year as Covid-19 restriclrons relax. This includes joÉnt programm￿ of SlKJrts Continuin8 Professional DeVelO￿ent with Devize5 and LAVilJ8ton sthools. The actlVLtie5 detailed below outlines what Dornally takc5 placc durkn8 an year. However. some of these were cancclled or curtailed last year duc to Covid-19 restrictions. The sports programme offers weekly visits by seven sports mff to eighi I￿8￿ primary schoo15. The programme 15 well estsbltshed and provides coaching Sessio￿ for 300 children in h￿key. tsg rugbytr netball. athletics and ¢ri¢ker. These 5¢ssions culminat¢ in temly stA)rting festivals which are organised. ￿MInistered and run by Daunt5ey's 5POrtS 5tZ4ff and L6th pupils who are studying for their national LSA (Leadership Sports Award) qualifjcation, which requires a larsc element of volunteering. These festivals tske place at the Sch(M)l and make use of the sporting facilitle5 includin8 the two astro-turfpitche& playing fields ond the pavilion. The and equipment that is required to teich the pupils. is pn)vided by the School. Each festival is artendcd by over 150 pupils eagerto show offtheir newly acquired skills. We lth)k forward to iwstin8 ¢vents and projects championed by Wiltshire and Swindon Schools Sports progrdrntne WASP. Other progrnmrncs offered include mathematics. design lechnology, n*)dern languages, art and sailing, and these pro8Tammcs are highly reghrded by the many young thildren who benefit from ihe s¢hemes. The highly respecled annual rnathematics dodec8hedron compelition tskes place with 50 Schools frorn across the West of England erttering a total of around pupils ag¢d 12 and under. The top 35 pupils from up to 20 different SclM>ols attend the final cornpetition hosted by Dauntsey's. Each pupil re¢eives & small prize ond takes pan in puzz1¢5 and a Maths tr¢asur¢ hunt around the site, in addition to the compclition elcment. Thi5 eveni did nol place this year howeyer three.Maths workshops were held in three primary Schools at the end of the summer term. The design and technoh)gy outreach proj¢ct involves 8 s¢aff oveT 200 pupils from 10 kJ¢al schix)]s. Over a two.week period. the ytkr SLX PUPLIS visit the Schth)l and use computer aided design and ¢ompu*r aided n￿nuf%￿re to design and rnak¢ their own clock. R¢8rettably thi4 was caDcelled due to Covid-19 rtstrirtioIhs. A su¢¢essful 'art' ¢veni took place during the Spring terni. Thtee schools were sent w>rtions of clay to be thaped by local children with 8 video explaining what was required for them to aid an 'A' level gs5¢5smeni piece. The Jolie Bris¢ PTovides lif¢-clJan8in8 experiences forpupils from #round 8 sehotsls otherthan DAuntsey's. The pupils all parti¢ipat¢ in the Jolie Brise ¢xp¢rien¢e as ¢a¢h u¢w member must swab the decks, make all lines correct. navL8ate, steer, cook. clcan and stow. Thi5 cxpcri¢nce provides various challenges for young people to overwme on an individual and a team basis. Wihshire Cricket the sch￿)1,$ facilttie5 for a number of L￿aChing and other course5. Coaching Courses are run in the sports h￿1, and the ouidoor net and piich facilities we used to co¥h a¢ad¢my players. All the fa¢ilities are provided at no harg¢ to Wiltshire Cricket. In additio￿ Én an initiative with the MCC Imarylebone Cricket Club) Fowidation, indoor coachin8 session5 are providcd for childr¢n from Lavington and Lkvizes Schools during the spring terni. The use of th¢ S￿rts hall for this is provided at no ehar8e to the MCC Found*iott. During the school year, Dauntsey's welcomes disiinguished spe¥ke￿. ¢ov¢rin8 a wid¢ rnng¢ of tOPi¢4 a5 part of its Mercers, Lethre programme. These are free, open io the sc1K￿l commwiity ond generat public and ar¢ w¢ll attended. Regrettably the Pla[￿ed leciures for 202￿21 were cancelled due to Covid-19 restrictions. However, in April the School welcomed Ro8er Black MBE. Olympic British athlete. VAW oificially opened the Sdiool's all-weather nmning track. He 12 DAUNTSEY'S SCHOOL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGusf2•21 also 8ave an in4>irin8 talk: shariTr8 hisiourney to becoming a professional athlete arKJ competiTbg around the WOTId. There are also 5pxialist lectures championed by the History. C*ogr8phy and Physics Socieiies. The Intemational So¢iety also visits thc local primary school where they give talks to loca] children aEout their individual country's different ¢ultures. Dauntsey's Voluntary Serviv Unit is 8 ￿h¢m¢ which enables Sixth Forni pupils to help in the surroundrng district. This 15 important element of our ethos, iemis of being an a¢tiv¢ and inte8rated part of our local community. A ran8e of pla¢em¢nt$ are availabl¢ from I¢)￿ Primary and Infants¢hools. Retir¢m¢nt Homes. the local BUPA care home and several Charity shops. The visits develop individual int¢grity. promole 8oodwill toward5 Other5 znd are widely appreciated by the various organisations. During the summer break eath year. around 20 Lower Sixth pupils iravel ￿ Romania ond work with ihe NightlD8al¢s Children's Project for a week. The trip presents Ix>th emolional and physi￿1 challenges to those involved since they help providc a holiday activity weck for impoverished children. many of WI￿rn liv¢ on the 5trttlS. This did not tske place in 2021 bccau5c of Covid-19 travel restrictions. Iti addithon. subsidised 8rrangem¢nts r¢main in pla¢¢ for th¢ use of the swimmin8 p(x>l. the sports hall. the pavilion arkd oiher Sehool facilities at rates below c(Hnmertial level$ for the wider ¢ommuniry'$ benefjt. The pool and hall are used by ll variety of local clubs and societles. Daunts¢y's Swim SchcM)l offers'learn to swim, le550ns to the local comrnunity. The aihletics track which is certifled to a minimum VKA 3 stsrdard is a vuy ￿pU1¥ facility and is used by thc Wiltshire Athletics Asso¢iaiion. Daiinisey's is proud to prnmotr its partnershipswkth local rnaintained s¢lK#)Is regarding mentsl health and w¢llb¢ing. The School gifted Lavinglon School the 'Teen Tips Wellbeing Hub,. The Mentsl Health and Wellbeing Coordinator will provtde (rcc traiThin& r¢sourre5 and rnutual support a5 part ofour ¢￿tr￿ch prowmJn¢. The provision of bursaries 15 detalled in 'Achiev¢ments and PerfOrn￿rKe for the Yetr. under the subsection 'Oper81ional perfomiance, on page 7. EnviroTrment•l proje¢ts & ¢o¢rgy rep)rtlng Dauntsey'$ is pl¢as¢d with its inv¢stm¢Tht in susi8inabl¢ projects. Ai th¢ maln school site. three photovoltaic arrays exp)rt electricity to the nationol grid and I￿￿¢¢ our own demands. In the Manor House. there is 8 bjorn￿ boiler System which provides hoi waier aml heating. Re¢y¢ling of paper. Cardi￿rd and other ¢onsumabl¢s is an ¢siablished elemeni of the Dauiiisey's dhos. Our kii¢hen waste is taken io the Bore Hill Fam biomass fuel dep)i in Warniinster Ihu5 reduLin8 our land fill waste. In￿nd¢s¢C￿l IKgh¢ bulbs arc bEing rcplaccd with energy saving Lighr EmittÈng Diode bulbs; Passive Infra Red lighting has been installed in various buildings. The School has four siandby ￿Wer generators whhch means thal the Sch¢J)l ¢#n tspeTate ind¢perbdentlyof ihe national grid $I￿Uld ihcrc everbe a m#jorpo%v¢r¢ui. Themulti-fLEThciional p8vilion LS healed by groilt￿ source htat pump technolo8y. Frorn I Scptembcr 2021. all electricity Consumed by (he School is 8ener4t¢d frorn z¢ro ¢artK>n sou￿¢5. Carknn and Energy Reportin8 Regulations are a 5ts1Utory ttwJrtin8 requirerncnt for large companies in ihe UK. The Compani¢s A¢i defines a ¢ompat)y is large if li exceeds any of the following il T￿al income >£36M. ii) Gross #$sets >£18M, iii) Employee numbets >250. Exemoions art available only if an entity hss under 40,IKIO kwh of emissilms p¢r annum. The information below is based on the amount of 8&5, oil. electricity and fuel consumed by the Sch￿1 during the year. This wa5 converted to kilowatt I￿UrS using the website htt ..Ilearbon-calc whi¢h us¢$ ¢onveTSiOn faciors provided by DEFRA as part of its F￿vironmental Re￿rtIng Guidelines. 2021 5.702261 2020 4.157.862 UK energy use kwh Schwl and Manor House Gas, oil, electri¢iry and fuel Associated greenhouse gas emissions Tonnes C02 uivalcnt Iniensity ratio Emissions per pupil 825 (2020=832) 1465 ￿n￿e$ 1135 tonnes 1.77 tonncs per pupil 1.36 tonrKs per pupil The intensity ratio measures ener8y usa8e Compared with an appropriate business metric 13 DAUNTSEY'S SCHOOL REPORT OF THE COVERNORS FOR THE YEAR ENDED31 AUGusf2021 This is the second year of rep)rting althou￿ both years show figures thar are h)wer than expected. This is due to the site being Closed at times, due to the Covid.19 lo¢kdowns, whereas 2022 slK)uld reflect a nortnal year of use. The School'5 energy usc for 2021 reflec15 the period of closure from 04 January 2021 to 7 March 2021. The 2020 fi8UTCS rcflect thc period of c1ts5ure from 20 March 2020 to 31 August 2020. Sehool ehlrlty Every Scptember, thc cntifE School ￿mMunity of pupils and 5taifvotes to select a charity for the academic year, with national 2nd intcmalional charities bein8 considered on alternate years. A dedicated charity Committee (con5i5tin8 of ¢lected pupil rep￿Sent￿liVeS from ¢a¢h Hous¢l and stsff then fxilithie the numerous activiiies take place throughout the year in order to raise funds for the clK)sen ch8riry. Fundraising for the 201￿20 charity 'Th¢ vin￿ga National Park. was curtailed due to Covid-19, th¢¥efoT¢ it wa5 a8r¢ed that the fjjnds raised in 202(k21 would be shar¢d between 'The Virunga NatlODal Park, and 'NHS Chariti¢s Together.. Th¢ 'Virun8a National Park. ¢harity raises funds for Afri¢a's most biodiverse prolected are4 exists to protect otte third of the world's wild moutttain gorilla% over otte thousand species of marnmal. bird. reptile and arnphkbian. artd provide a brightcr future to more than four rnillion people affected by conflict. 'NHS cI￿ltieS Together, is rnade up of240 NHS charity members b&sed with knspitals, mentsl health, ambulance and community health servi¢e5 8¢r05s th¢ UK. The aim ofNHS Charities To8¢ther is to provide *4ditioDal wt and support for th¢ NTrIS: to enable li ¢0 do more than it ¢ould otheThvis¢ do, rather than fvnding core s¢rvi¢es that would ordinarily be fUlld￿ by govemment. This helps improve the wellbeing of patients and ￿yeS lives. The total amount rnised to be shared was £6.716. Foundjtion office fundr•ising The Annual Giving PTO8ramme raised £45.655 ihis year and is managed by ihe Foundation Office. The oifice undertakes fundraising actlVLtie5 with foTmcr pupi15 and friend5 of the School via email. dir￿1 rnaiL telephone contsct and a variety of cvcnt5. The code of conduct for thc database mana8cmcnt and fundraisin8 activities ensures: No contact details are released without penni&8ion Contact is only made to those who have expressed an interest in our 8Ctivities For lelephone eampai8n5. pernission is always sought that iThdividua15 are happy to r¢¢¢iv¢ a ¢all Individuals that do noi wish w receive communication are p]aced on a'do not mail. lisi We do not engage in cold calling No one fe¢ls pressurised to $upp)rt ourwork All our activitics are open. fair and IcBal The Scltool aims to tr¢at all dowrs fairty: staff have Tegular trainiIi8 S¢55ions to monitor and r¢vi¢w op¢ratin8 pro¢¢dur¢& Th¢r¢ have b¢¢n no wmplaints about our fimdTaisin8 a¢iivities. FINANCIAL REVIEW AND RESULTS FOR THE YEAR Net intome The S¢hool's t)d deficiiof £148.079{2020.. netsurplus£594,698>refle¢ts the continuing impaa ofthe cov1d-19p￿deM1¢. Fces were held al the 201￿20 rate5. The School sltc wa5 closcd from 04 January to 08 March to comply with thc government lockdown. The sumrner term'5 fecs were adjusted in respecl of the spring tenn for all puptls, which led to 8Th over811 £lm loss of income. Scholorships and 8w8rds were applied pw.rnts io the discounted fee. The School took advantsge of the Coronavirus Job Reteniion Scheme and up to 118 employees were fur]oughed (on temporary leave) ftir the 8 weeks Closure. A total of £203k was received from HMRC whAch Corttributed to paying all employees At their full rdte of pty. The 8t￿￿81 ktting of the se1￿1,$ f&ilities to Education First durin8 the summer break did not tsk¢ place. In contrast to the previous year when all but essential sp¢nd was halted. work ￿ntinUed apa¢e, to et)$ure the infrastw¢lure of the campus is mairt¢ained to 8 high srandard for the benefit of ail pupils, stsff and visiiots. The extensive works carried Out included= An extension to Evans House to provide new couThsellin8 fxilities. Conversion of the Jeanne House ¢onsthv8tory new pupil living area and Ntor space. CreAtion of additional bedrooms in the boarding Iwjuses: Jcannc. Mcrccrs. Evans and Fitzmauricc. Installation of a new wireless nehyork for the Manor House. a r&lesi8n of the maln s¢hool server room, o)nfiguration of all replacemeni laptops, and the installation of new Apple Macs in Music. Works ￿ ihe 1895 building in vaTiOUS treas. which included partial re•r￿fin$ repaiN C8TFttittg 8nd Piniin8. Improverntnt and refurbi5hTnent of various Tesidential ￿tor ac£omrnodation. 14 DAUNTSEY'S SCHOOL REPORT OFTHE GOVERNORS FOR THEYEAR ENDED31 AUGUST2021 Installation of three new oveTh8 on the mlin site and re￿Tbishm￿I of the M8Dor kitchen. The School Successfully applied for £1.5m from the Coronavirus Business Interruption Loan Scheme which it received in O¢lober 2020. This 15 planned to be repaid over five years Starfing ith November 2021 but be repaid eartier if required. Investment powers The Governors. investment powers are 8overned by the Memorandum of Association. The School'5 investmcnt fuTbds 4re Id itt the Charities Official Investment Fund (COIF) as 8overncd by the Scknl's investhient wlicy. The Sehool choose$ to invest its limited reg)urtts in risk av¢rse investments. The investh)et)ts are held in COIF Charili¢$ Investmeni Funds as the pts)du¢ts and seryic¢s have a strong l¢)n8-tenn perforrnance record. are fairly pr&¢¢d and are Inanaged responsibly. The SclK>oI I￿ld5 two fonn5 of restricted funds. The COIF charities investment ￿tkd income units providc a lon8-t¢rm total return compTisinggmwth i# capital ¥nd incorne- the Sch￿1 reccives a good level of distributions and long- terni prottction from iThflation. The COIF charities deposit fund uni15 provide g high level of capital securiry and ¢ompelitive ratesof interest. In February 20208 newutwestricted deposii fund was ¢5tabli5hed to enable some free reserves io a¢¢uniulote; li is plant)ed w in¢reas¢ th¢se a5 avatlable furh(Ls allow. For year ending 31 Au8USt 2021, interest and dividend5 rcccived ttAaled £18.847 (2020.. £21.396} with ￿n￿lIsed gairts of £143.763 (2020: £37.687). Employment poliey The S¢hool is a¢ommitted equ31 opportiinitiesemploycr and lakes every possible step to ensure that employees aretreated ¢qually and fairly. All policies ald practices ¢onform with ihe pri￿lPle of equal optK>rtUnLties in temis of recrnittnenL selection. troining, promotion, career development. di￿1p11nc. redundancy and dismis￿1. If A person is disabled, or becomes disabled in the eoursc of their cmploym¢nt. th¢y are encoura8ed to lell the School about their Condition. This enables the Schcx)I to suppTrrt the person as much as p)ssible and ¢0 ¢nsure that they are nol treated Icss favourably because of some(hing relaied io their disability. The PCTSOn may also wish io Advise the School of any reasoTb*ble adjusirnenis io iheir ivorkitlg Conditions orthe duties of their job which they ¢onsid¢r ￿ b¢ necessary. or which would agsisi them in the ￿rf0mla￿¢c of iheir duties. Employees are consulted at all le￿15 $0 thai their views are ¢onsid¢r¢d when decisions are being thken are likely to affecttheir interests. Employeesare sysiemati¢8lly kept infomied ofthe financial aThd eLx>nomic perfomianceofthe S¢hooL 85 well a5 other matters of concern to them. through various means of wmmunication. briefings arhd m¢eiin8S. li￿ryeS pollcy At the year•end Dauntsey's School had iothl funds of £21.276.654. Of the ￿tal funds. £1 J03.485 is represented by endowment funds and is held in investments ond £226.247 is represent¢d by a restricted futld. This leaves an ut)resiri¢ied fund bY4lance of £19.746.922. of which £18.937,700 is ￿presented mainly from the inve5tm¢nt the school ha5 made over the years in the infra5truthre of the sclKboI and its faciliiies. The remainin8 £809222 is rnainly represented by an unrestricted reserve whieh sel up carly in 2020. It l5 planned. thai wh¢t) there fun& available. to contintse building this unrestricted reserv¢. The lack of substantial free reserve4 in Common with ￿heT independeni s¢l¥)ois. requires that the day to day operation5 of the s¢hool ar¢ managed ¢k)sely. The iernily flow of cash and cxpcnditure i5 IlJQlJItOT¢d, together wilh thc Working eapital Thecd50f the bu5ill¢55. This is reviewed by the Governors via the bi-ternly Finance & Genernl Purpose ¢ommitte¢ meetings and termly Full Board rntttiThgs. The &vemots are ¢onieni that the Current cath flows are $uffi¢ieni to operate the School and continue to achieve its current 51r¥4tegic aims and obj¢rtiv¢s, despite the effttts of the k>ckdowrt. 15 DAUNTSEY'S SCHOOL REPORT OF THE GOVERNORS FOR THE YEAR EIYDED 31 AUGUST 2021 Future plans The Current School Development Plan seeks ￿ ensure that Daurttsry's remains 8$ one of the leading independeni co educational boardiTh8 and day schools in the south of En8land. for pupils in a family Sch￿)[ with a Christian eihos. where both t¢3chers and pupi15 are given ev¢ry OPEKJrtunity to fvlfil their tKtt¢ntial and a¢hi¢v¢ th¢ir 85pirations. both a￿1¢￿1 aThJ othen¥ise. This plan is founded on the following SllPkKj￿n8 aims.. To maintain the School's stron8 acadernic profile by providiD8 a balanced. pro8re5sive and innovative cU￿1culUrn delivered by a taient¢d and Committed teaching Staff. To provide a ransc of opportunitie5 for pupils to become flexiblc thinkeT& by stimulatLllS Illtellc¢tua] curiosity through academic enrichmcnt, indepctKlent IcarniTh8 and a complementary curriculum. To maintain and develop the School's outstat)dittg pastoral care within a diverse and inclusive communty. ¢n$urin8 the wellbeing of pupils and staff. To providc a school environment whtch promotes Self￿onfIdenCe. wellbein& a feeling of self-worth and emotionally resilient pupils To provide o brood range of extra4urricular t￿1vIlle$ and opp(wwntlies which develop pupils as adventurous, confldent, articulate, tolerant and re5pon5ible individuals WIMJ are ready to take their place in the rnodern wortd. To maintain the School's Strong commithient to boarding. To nurtUT¢ and dev¢lop the SehrM)I's commitrnent to the local cornmunity and to bwad¢n x¢¢ss to th¢ School through a bursary scheme. The Govemors review the aims, obj¢c¢iv¢s and futyre plaos of the at regular inteivals throughout the year. Risk ma￿geme￿I Thc Govrnr5 maintain a 51rat¢gic ovcrvivw of the key risks which thc Srhool fa¢¢& A risk regisier L5 maintained to identify and traek risks against likclihood and impxt. Contmls and monitorin8 rne&sures arc listed alongside each identified risk. Individual risks ar¢ ailwated to own¢rs within the eX￿utiVe,. th¢y ar¢ linkd by subj¢rt for routine review by Governors at 811 committe¢ and Full Board Me￿ingS. The re8lSter is updated following ¢ach eommittee meeting. Oversi8ht of the risk management process itself is de￿8a￿l to the Audit and Risk Cornmirtee. The key controls used by the charity include.. Detailed temis of reference for all Committees Formal agendas atld minut¢5 for all Committec and Board activity Comprehensive $trategi¢ plannin& budgeting and rnana8¢m¢nt ¥￿Unting Established organisatiort￿ structures and lines of rep)rtin8 Fomial written policies Clear authorisaiion and approval levels Rigorous 5afe8uarding procedur A specific committee reviews and manages complianc< safeguarding and goven)8nc¢. The risk re8lSter identifi¢s th¢ strate8ic risks to the successfuI operztioD of the Charity. Of these. the key risks to the busin¢s& as at th¢ dat¢ of signing th¢ a¢coun￿ aff identified as: Covid-19. There is an oftgoing risk of disnjpiion ￿ the Scknl due to Covid-19. This ¢ould affect the health and wellbcing of members of thc conjrnunity and havebTo8der Operation￿ consequenceson the day-to-day running of the 5¢hool. It Could also lead to some fluctuation LD pupil numbers if OD80in8 disruption to international travel dis¢ourages international pupils fmrn joining. The S¢lwl preparyi a d¢tsiled as5¢55ment to identify and mitL8atc risks associated with Covid-19. Failure in Complixn£e and S#feguxrdln& This risk is overseen by the Governknet. Complianee 8ftd Safeguarding committe¢. There is a Designated Safe8uardiDg Lead (DSL) within the Senior ManaBem¢nt Team sUPPOrted by Governor with specific sofeguarding r¢sponsibilities. A Complian¢e Offi¢er 15 tasked with providing as5ur3n¢e of regulatory ¢omplian¢e. The School uiilises independent specialist advice to assist in pmviding assurance of the efficacy of safeguarding IT￿ ¢omplian¢c protocol$. Qu*llty fjf Te8ehln& P*stoT*l CAre Fadlltk& This risk is miti8ated by rnaintsinin8 inve51rnent in high quality staff and the provision of a ¢ompr¢hensive paswJTal ¢are system. Continued investm¢n¢ in the estste in I¢TmS of n¢w f￿11111¢5 Pr￿planned mainteEian¢e programmes assure that facilities remaiti ai a high stsndard. The School 16 DAUNTSEY'SSCHOOL REPORTOFTH8 COVERNORS FOR THE YEAR ENDED31 AUGusf2•21 employs a Head of ProfeSs￿n￿l Develownent to mana8e the enhancemeni and improvemeni of I¢￿h1ng and leaming by our academic sthff. d. Unexpeeted Cost Incrnse& The SchcKJl could bc advcrsely affccted if there art signifiwl it)¢r¢ases in its Cost-￿5¢ which could. in turn. force il to increase its fees to cover those additional c05ts. In thc short term this could be due to inflationary pressures in certain categories of expenditure such an encrgy costs. food costs or for n)les which are in high demand. Over the long¢r t¢mi, this wuld inclkKle threats such as the retnoval of business rates relief. the impositi(bn of VAT on f¢es or SiEnifi¢aThl increws the conlribution rale5 or lo fUT￿ ihe pen5v)n dcfi¢i¢ in the Independent Schoo15 Pension Scheme. Bud8ets for current and 5ubsquent years make suitsble provisiort for these in¢re8ses. However. Ihis is not a long-tem) sustainable p￿]110￿ if these cost Incre￿e5 lead fo SL8nificant inflationary pressure on ihe fees charged ￿ P8Tents. The SclbJ)I will aCti￿]Y Consider st¢P5 to address these risks and mitl8atc Iheir imp￿¢ as they arise. Inadequate Fin*ncial Planning and Controk Thi5 risk is managed thwugh a ¢OmprdTre￿ivt suite of me&sures including bi-termly m¢eting5. if neccssary. of the Finance and Gcncra] PuTPOS¢S Comm¢tt¢e artd ¢l¢ar fjnancial approval processes. Clear and accurate r￿e£851]Th8 of budgets 8nd cash fltsws are rouiinely examined at each meeting with detailed scrutiny of budget variations. IT security bre*clL The risk of a cyber-breach leadiTh8 to the 1055 of critica] dati the publi¢ation of confjdential infonnation or the fraudulent diversion of payments to or from the School could bc vcry damagiftg. To manage this risk, Ihe S¢h(KJl octively reviews and upgrades its IT se¢urity measures ond promotes aivarene5s of these ¢ybeTrrisks to its stsff and pupils. Over5ighi of ihc risk management prn¢ess is VC￿ed in the Audit & Risk Commilltt which conducts a detaikd annual Teview 10 confimi the relevance of risks identified ivithin the strai¢gic risk register. The anThual review process also revalidaie$ the responsibililies &￿ibuTed to su1￿0￿mIll￿S of the gov¢miiig for oversi8ht of individual risks. By constant reference io the risk regiS￿r* every govern￿¢¢ level. the Govemors Can provid¢ Jssuranc¢ that the key risks are identifhed. mitigated gmd appropriately rnonitottd. GOVERNORS. RESPONSIBILITILS The Governor5 ar¢ responsible for preparing th¢ ())venK)f5' Re￿rt atKI the finartci*l sthtements in accordance with applicabl¢ law ond regulations. Company laiv require5 theGovernors to prepare fmancial statements forcach financial year. Underthal law the Gov¢rnors 1)ov¢ el¢ci¢d io piepare ihe fit)atKial statements in accordance with United Kin8dom Generally A¢cepted Ac¢ountir)g Piai¢i¢e IUni¢ed Kingdom A¢¢ounting Standards and appli¢abl¢ lawl. Undereompany law the Govemor5 must tKbt approve the financial sthiemenis unless they are saiisfied thai ihey give a ttwe and fair view of the state of affairs of the charitablc company and 8roup. and of the resultof the tharitabk CoMp￿Y 8nd group for that Y￿[. In preparin8 the￿ financial slatcment5. thc Govcmor5 are rcquirrd to: selttt suitable a¢¢owiting p)licies and then apply them w)sistently' ob5crv¢ the principks in ihe Charhtirs Stat¢mrnt of Recommended Prxtice {SORP): • make judgrnents and accounlin8 estimates that reasonabk and prudeni. • slat¢ wheth¢r appli¢able accounting ststthrd5 have been followed. Subject to any matcrial depar￿r¢S disclosed and expliined in the fi1￿Cial $tatements- prepare the financial sthtements on the going concvn basis ￿1¢9$ it is inappropriate to presume that the charitable company will continue in business. The Governors are responsible for keepitig adequate xwunting records that ar¢ S￿￿￿1¢nI to Sl￿W and explain the charitable company and group's tran5aCtion5 and disclose with rra%mablc *¢uta¢y at any ¢im¢ the financial position or the charitable company ar￿ group and enablc thcm to ensu￿ that ¢h¢ fin¥TKial $txtemertt$ comply with the Companie5 Act 2006. They are also responsible for safeguarding the assets of the Charithble ¢ompany and group and hen¢e for takin8 reasonable steps forthe prevention and detection of fraud and other irregularities. So far as each of the Governor5 is aware at the time the rep)rt 15 8pprnved.. Ihere is no relevantaudii inforni¥ion of which the charitable ¢rrfntAny and 8roup¥ auditors are unaware. and 17 DAUNTSEY'S SCHOOL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AVGusf2•21 the Govemors have tsken all stw that they ougkn to hav¢ thken ￿ make themse]ves aware of any rel¢vanl audit information and th estsblish that the audiwrs are aw4Ke ofthat infonna Director's duties under SectioTh 17211) of the Comp#nie5 Ad requircs that a director of a company rnu5t act rn the way he considers. in good faith, would be most likely lo promot¢ the w¢¢e5s of the ￿MpanY for the benefit of its m¢mb¢r$ as whole and in doing so have regard to: tlie likely eon5equences of any decision in the long terni the interests of th¢ company's employee5 th¢ need to fo$t¢r the company's bu5ine5s relatMJll5hips with $upplier& parents. th¢ community and othe thr impact of the cornpany's op¢ration5 on the wmmunity and the cnvirDnment • the desirability of ihe comparty maintaining a reputaiion forhigh standards of business conduct the need io aci fairly betsveen members of the company The School's governors have regard to the School's empksyees. intrrests and Iw a desigthated Governor available to all staff for any is5ue5 they may have. This Governor VLSIt5 the School re8ularly and meets with l)oth academkc and 5UPPOrt staff. The Governance, Compliance and Safe8uardin8 committee are made aware of any employee issues at their ttrnily meetings. These are also reported io the Full Board. Ai the beginning of the ac&dtmi¢ ye8r, the School undertook a cottsultatioTr prncess wilh *￿emIC stsff regarding their pension pmvisitsn. A pen$ion5' workin8 group. which included a Variety of academic staff. wa5 in place whi15t the ¢oThsultation twk place. As the School w&s closed for 8 weeks of the sprin8 t¢nn, due to Covid-19. the School once a8ain t(￿￿ adYanta8e of the Cornnavirus Job Retention Scheme. This covered 81P/*l of the salaries of furlou8hed employ¢es- Governors agreed that all ¢mployees should re¢eive IOOOh of their pay so the School funded the difference. Sieps were iaken lo ensure the workplace was rnade a$ safe as possible with rigorous eleaning and pmvision of screens to limit the sprehd of Covid-19. Gov¢rrK)rs have reg8rd to the need tt) f05t¢r th¢ company's bu5inw r¢lationship with its suppli¢T5. Gov¢moT5 r¢vi¢w th¢ biannual 'payment praaices. ￿pOrtS and ar¢ wni¢nt suppliers are paid on or before the invoices are due. Throughout the 2021 lockdown period, Iherc was no change to the nornial payM￿t practicrf. thereforc excellent relationships with the 5chool'5 suppliers were mainlaincd. GoYenK)rs have T¢g8rd to the n¢ed to foster the Telation5hip with the parents of the pupils in the SclKK)1, 8$ they are the major customers of the khool. In respons¢ ￿ the 8 we¢ks of the sprin8 t¢rni the sch￿)1 was closed du¢ to Covid-19 lockdown, Governors reduced ihe fees forall pupils. The reduction was applied to the summer temi fees bills. Governors have regard to the impact of the SchcA)I's operaticffls on the community. Governors agreed that initiative5 bc undertaken io help ensure the School's ertvironment was as safe as ￿$Sible, thereby limiting any impact on lis employe¢5 and their family friends irt the lo¢al community. AUDITORS The Sch¢)ol's external auditors appinted forthe yetrended 31 August 2021 art Haysmaeintyre LLP. Th¢ GovemoTS' Report inwyjrating the Str*egi¢ R¢FKKI w¥$ signed by orderof th¢ Gov¢rnors on: 2021 L F Wa15h Waring Chairn)an of Governo S R Broadhe Governor 18 DAUNTSEY'S SCHOOL CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGusf 2021 Opinion We h&ve audited ihe financial sratements ofDaunfsey's School for the year ended 31 AuBu5t 2021 whith Coniprise the Consolidated Statement of Financial Acliyities, Ihe Consolidated and Chan"ty Balance Sheets, the Consolidated Cash Flow Statcmcnt and notes to the financial ￿aterncTrts. including a 5umrnJry of significant accoiinting ￿lteles. The financial reportin8 framework that has bten applicd in their preparation is applicable law and United Kingdom Accounting Standard5. includin8 Financial ReFOrting Stsndard 102 The Financial Reporling Siarnknrd appli¢oble in t1￿ UK Republic oflreland(United KiDgdorn Generally Accep*d Accounting Practi¢el. li? our opinion. the flnancial statcments.. give a iiue and fair view of the stale of the wp'$ and of the parent ¢haritable cornpany'5 affairs as at 31 August 2021 and of ihe group's and parent ¢h8ritsble ¢ompany's net n￿vernent in futth. including the income and expenditure. for the year then ended. have been properly prepared in aceordance with United Kingdom Gertera]ly Accepted A¢￿￿nting Pracii¢e: and hav¢ been prepared ￿ aCcOrd￿e with the requirements olthe Companies Ad 2006. Basis for opinion We conducted our audit in #ccordantt with Intern41ional Sthndards on Auditing {UKI (ISA$ (UK)} and applhcable law. Ourrespon5ibilitie5 underthose standard5 are fvrtherdescribed in the Auditor's responsibiliiies for ihe auditof th¢ finan¢ial statements Section of our report. We are independent of the 8r(yJp in accordance with the eihical rtquirements that are relevant to our audit of the finaThcial statements in the UK. including the FRC'5 Ethical Standard. aTd we have fulfill¢d our other ethi¢al r¢sp¢)nsibiliii¢s in I¢￿rdance with these requirements. We believe the audit evidence we have obtsined is sU￿1¢ient and appropriaie to provide a basis for ourop1ni￿. Conelusions rnla¢iAg to concern In aiiditing th¢ fin?ncial stai¢mcnt5. we have ¢on¢ludrd th¥t the trust¢es' use of the 8Ojn8 concern basis of accountin8 in the prepaTaiion of the financial sthiements is appwpriaie. Based on the work we have perfomied. we have not identified any m*erial ￿￿¢￿31￿11¢S relating to events or condition5 that. tndividually or collectively. may cast significant doubl on the group's ability EO continlle as a 8OiTh8 concern for period of at least twelve month5 from when the fuhancial ststemcnts are authorised for issue. Our resporksibilities and the respo￿%￿bilItIeS of the trustees with respttt ￿ going concern are des¢rib¢d in the r¢levant sections of this report. Other lrtformatiott The trustees are responsible for the other infomiation. The other inforniation comprises the inforniatioTh included in the Governors. Annual Rtw)rt. Our OPLIILon on the finartcial statements does noi ￿Ver the oih¢r infomiarion and, except to the extent otherwise explicitly stated in our rewt, we do mot express any fomi of assurance conclusion thereon. In connection with our audit of the flnancial slatements, ourre5FK)nsibility is to read the other inforniaiion And. in doing so. ¢onsid¢r whether the other inforniation 15 materhally inc0Th5iStent with the financial $ts*ments or our knowledge obrained in the audil or otherwise aprEars to be materially misstated. If wt identify such maierial inconsisiet)cies or appareni material misswtem¢n¢& we ar¢ Tequir¢d to det¢miin¢ whether there is a material mi55tatem¢nt in the financial statements tsr 3 rn41¢rio1 misuai¢ment of th¢ oth¢r inforniation. If, based on the work we have perfonned. wc wncludc that there 1$ maierial misstaiementof ihisirther infomialion. we are tequired to report faet. Wehave nothin8to rewrt in this regard. Opinions otber m4tters prescribed by ihe cOm￿nItI Art 20•6 In our ophnion. based on the work undertaken in the ￿￿r$¢ of the audiL the infonnation given in the Governors, Annual Report (which inCI￿je5 the Strdiegi¢ report and the Dir¢¢¢ors' rew)rt prepared for the purp05C5 of company lawl for the financial year for which the financial statements a prepared is consistent with rhe financial statements: and the strategic report athd the directors. retA)rt included within the Governor5, Annual Rep)rt have been prepared in a¢¢ordance with applicable legal ￿quitements. 19 DAUNTSEY'S SCHOOL CONSOLIDATED STATEMENT OF FINANCIAL AcfivITIES FOR THE YEAR ENDED 31 AUGUST 2021 MAtter# o* whlch ryve Are requlred tts rtport by extepdtsn In the light of the knowledg¢ and widerstanding of the group and th¢ parent clwitabl¢ Company and it5 environment obtained in lh¢ ¢ourse of the audit, we have not identified materid mtsstatements in the Gov¢ny)rs' Annual Report (which incorporates the strdte8ic reptsrt #nd the direciors. report). We have nothing to report in respe¢t of th¢ folk)wing m¥ltW5 in relation to whith th¢ Companies Ad 2006 requir￿ u5 to Teport to you if, in our opinion.. dequate accountin8 r¢cords have been kept by the charitable company. or the ¢haritable Company finatt¢tal $iat¢ments aye not in agreemeni with the accouniing records and or ccrtain disc105UTes of trustces, rcmuneration specTrficd by law are not made" or we have not received all the inftirnlation attd explanations we require for our audit. R¢Jponsibiliti¢$ of t￿$¢￿$ lor tbe fJD*Thci*I statements As explained more fully in the trustees. ttsp)nsibili¢ies sthtement (ser out on page 15k the ttwttts (who are also the dire¢iors of the charitable company for the purposes of company lawl are responsible for the wepardtion of the financial 5tatcmcnts and for bein8 5atlsfLed that thry give a truc and fair view. and for such internal control as the trustees deteThinc is necessary to enable the preparation of financial statements that are free fmm material misstatemen( whether due to fraud orermr. In preparing the flllancial statements. the trustees are re5pon5ible for &sses5lTh8 tbe group's and the parent charitable company's ability to ¢ontinue &s a going concen4 disclosin& ￿ applicable, matters related to goin8 wn¢¢rn and usin8 the going ¢oncem basis of accounting uttless the tntstees ¢ith¢r tntend w liqtjidate the group or the parent Chariiable company or to c¢￿¢ operaiioiis, or have no realistic alternative but to do so. Audltor'$ T¢5pon$ibilitiu for the •vdit Trf the fu￿￿¢1￿1 #*t¢m¢nt$ Our objectives are io obtsin reasonable assurance about whetherthe fithancial ststements as # whole are free from material misstatement. Whetherd￿ to fraud orcrror. and to issue an auditor's [g￿rtthal includesouropinion. Rea50Thable assurartce is a high level of 8s5urnnc¢. is not a guarantee that an audit ￿ndUcted in accord8n¢e with ISAS (VKI will alway$ detect a material missratement when it ¢xists. Misstatements can arise from fraud or error and are wnsid¢red mat¢rial if. individually or in ihe aggregak. they ￿Uld reag)nably ￿ expected to influence the e¢onomic decisions of users taken on the basis of these financial 5tatemcnts. ITr¢gularili¢s, including fraud, are instanc¢s of nMvwmplian¢¢ with laws and ￿gUlatiOns. We design ptDc¢dur¢s in lin¢ with our responsibilities. outlirted abov< io deiea material mis$tstrments in respect of irregulariiies. includÉng fraud. The cxtent to which our procedures are capable of dciectin8 iryularRtie4 includinB fraud is detailed below: Based on our underst8ndirt8 of the ¢h*ity 8nd the environment ith which it optrates. we identifled thai the principal risks of non•complian¢e with laws and regulations relat￿ to the ind¢pend¢ntxhool regulatiort&safeguarding regula¢ions, health and safety requirements, GDPR. employm￿[ law and clwity law and we eonsidejtd the extent to whtch non-compliance might have a material effect on the flnancial 5tatemcnts. We also considered those laws and re8ulations that hav¢ a dire¢t impact on the preparation of the f￿ancial sthtcrncnts such as the Charitie5 Act 2011 and Companie5 Act2006 and considcr other factors such as payroll lax. W¢evaluated mana8ement's ]￿entiVeS￿nd0ptX)TEllnittcsf0rfr9udU1ertmanIpU18tt0n ofthe financial ststements (including the riskof override of contTO]s). deiemiined thai the principal risks wer¢ related to the improper recognition of revenue and management bias in ￿tOu￿1n8 estimates. Audit procedU￿S perfomied by the ettgagemeni team irtcluded: Inspecting correspondence with re8ulatOT5 and tax authorities" Di5CU5sions with mana8ernent &ncludiTh8 consideration of known Dr SUS￿led iDStance5 of non•compliance with law5 and regulation and fraLMI.. Eyaluating management's contro15 desI￿d to pr¢vmt d¢tr¢ irr¢gulwiti Reviewin8 of minute5 of Governor5. rneetings durin8 the year. Identifying and t¢5tin8 journab. in particular journal entries posted at th¢ yw ¢nd; and Challen8in8 ￿umptiOnS and judgements made by mana8emeAt in their critical accounting estimates. 20 DAUNTSEY'S SCHOOL CONSOLIDATED STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR KNDKD JA AUGUST 2021 A further description of our responsibilities for th¢ audit of the financial statements is ￿lled ort the FKnan¢ial Reponing Council's websile at.. ￿V.fre.or .uklaudiiotsre onsibilities. Thi5 description fonn5 Part of our auditor's report. report Thi5 report is made solely io the ¢hariiable company's memb¢T4 as a P￿y, in accordance with Chapter 3 of Part 16 of Ihe Companies Ad 2006. Our 8w]it work has been undertaken so that we might state to the charitable company's members thos¢ matter$ive are required to sthie to ihem in an Audilols report and fornoother purw5e. To the ￿lIest exteni pemiitted by law, we do rnt#cceptor&sume responsibility ioanyone(rfherihan the charithble company and th¢ charitable company's members as a body. forour wjdit work. for thi5 report. or for the opinions we have fom?¢d. Richard Weaver (Senio¥ Siatuiory Auditor) For and on behalf of Haysmacintyre LLP Statutory Auditors Dale.. 17 December 2021 10 Queen Street Place London EC4R IAG 21 DAUNTSEY'S SCHOOL CONSOLIDATED STATEMENT OF FINANCIAL AcllviTIES FOR THE YEARENDED31 AUGvsf2021 Gw¢r*l Funds R¢striettd Emdowm¢nt Funds TotAI 2021 Total 2020 Notes INCOME Income from Ch•ritabk Activities School fees Othtr cducational incorne Attcillary income School shop5 IDcom¢ from other •cllvitks Trading companies Invcstment5 Grants & Donations. m￿¢￿$. Co. 18,058.519 62.798 325 308201 18,058,519 16,991911 62.798 40.220 325 3,123 308201 226,908 15235 53 15235 18.847 27.0(Kl 341,195 36,948 41.630 21,424 17.000 779.240 36,504 18.794 10 313.028 36,948 28.167 Other TotAI Incotne 18.797.107 53,167 18.794 18,869,068 18.158.960 EXPENDITURE Expendlture on rAlslll8 funds Tradin8 costs Fundraising and Development Finan¢ing charges School shops 7.778 39.168 33,020 352.989 7.778 39.168 33,020 352.989 7,627 40.721 33,392 291.846 Expenditure on Charit*ble Aftivities S¢hool operatin8 costs: Teaching Welfare Premises Support & GovernaD¢e ￿513 Grants. awards and prizes 9.506,021 2.965.864 3.933.649 .759.031 3J03 9,550,461 2,965.864 3,933.649 1,739,031 518,950 9J77,249 2.693.459 2,962.175 1,716.944 473,968 497,970 17,677 Total Expenditure 18.600,823 542,410 17,677 19,160,910 17,597.381 NET INCOMEI(EXPENDITURE) before net yinsl(losses) on lllvestments UnTealis¢d investment gains 196.284 {489.243) (291,842) 561.579 42,397 101,366 143,763 33,119 NET INCOMEI(EXPENDITURE) BEFORE TRANSFERS 238h81 (489243) 102.483 (148.079) 594,698 Transfers 15 (467.820) 467,820 NET MOVEMENT IN FUNDS (229.139) 121.423) 102.483 1148.079) 594.698 FUNDS BROUGHT FORWAIU) I9.976.￿] 247.670 1.201.INll 21.424.733 20,830.035 CARRIED FORWARD AT JA AUGUST 2021 19.746,922 226,247 1,303,485 21,276.654 21.424.733 The notes on pages 23 to 42 forni part of thes¢ fit)an¢ial $￿teMents. All amounts derive from continuing a¢iiviiies. All 8ain5 and losses r￿08n15￿ in th¢ year are included in the Stat¢tnenl of Financial Activities. DAUP4TSEY'S SCHOOL CONSOLIDATED AND CHARITY BALANCE SHEETS FOR THE YEAR ENDED31 AUGUST2021 CompAny No: 5872694 Group 2021 Clarity 2021 Grtyjp 202• Ch4rity 2020 FIXED ASSETS Tangible ¥ssets Investments 22,849.890 2,112,707 22,849.8 2.112.71 23.473.902 1,715.895 23,473,902 .715.999 10 24,962,597 24.962,601 25,189.797 25.189,901 CURRENT ASSETS Sio¢k D¢￿0[s. amourtts follinB due within one year Cash tht bartk and itt Iwnd 231,032 231.032 239,865 239.865 637.881 7.31)0.88) 637.639 7287.827 356,782 4.953.488 386.023 4.911.810 8,169,796 8.156,498 5.550.135 5,537,698 CREDITORS: amounts f*lliDg due iyithin one year 12 (9,338.055) {9J27.2601 {7.884.374) {7,834,5341 NET CURRgwf LIABILITIES (1.168.259) 11,170,762) 12.294239) {2.296.8361 T(YfAL ASSETS LESS CURREMr LIABILITES 23.794.333 23.791.839 22.895.558 22,893.065 CREDITORS: amounts f*llity% due after more than one yt#r 13 (2.517.6841 12.517.684) (1.470,825) (1,470.825) NET A&SETS 14 21.276,654 21274,155 21.424,733 21.422.240 FUNDS Unrestricied Funds Restricted Bursary Fund Endowment Fund5 lincludin8 revaluation reserve of £463.3251 15 19,746,922 226.247 19,744.423 226,247 19.976.061 247.670 19,973,568 247.670 .303.485 I J03,485 ,201.002 1.201.002 TOTAL FUIYDS 21,276,654 21274.155 21.424.7J3 21,422.240 See note 17 the Staiementof Financial Activities for the Charity for the yvdr ended 31 August 2021 Thc notes on pig¢$ 23 10 41 fomi part of ihes¢ financial statements. The financial 5tatement5 were approved and #uthoriscd for issue by the Board of the GovemoTS on T￿￿021 and were signed below on its behalf by". L F Walsh Waring Chairnlan of Gove S R Bro&the*J Governor 23 DAUNTSEY'S SCHOOL NOTES TO THE CONSOLIDATED CASH FLOW sfATEME FOR THE YEAR ENDED31 AUGusf2021 21ni 2020 Note Net eash ltttlow oper*tlng *etlvittes 2.004.716 1.454,571 Cash (bw$ from invuilnE Xrtivities: Jnvesiment income Interest rectived Purch&se of investments Pur¢hase of tangible fixed &ss¢ts PJD¢eeds from salt of investments Proceeds from sale of fixed assets 18.707 140 (266.523) (264,197) 13.475 18,334 3,085 (519,1451 (137.796) 15,660 Net c•sh outflow from investing a¢tiviti¢s (498,399) {619.862) C*sh flows frorn fJn*ncing activitiu Repayment of existin8 loans Inere&se in 108ns (658,927) 1S00.0(N) (593,257) outnow from fjnlneint #etivities 841,073 (593,257) Movement in cAxb 2J47JgXI 241.452 Cash and cash equivalents ￿ the ￿L￿nIng of the period 4,953,488 4,712,036 Cash •nd tash equivalents 4¢ the end of the perlod 7.300.878 4.953,488 The no¢¢ to this 5tstement is on PaB¢ 25. 2020 Cashnow 2021 Analysis of rnov¢m¢nts ID net ush Cash at bank and in hond 4.953.488 2347.390 7.300.878 Total c&sh and cash equivalents 4.953.488 2J47.390 7.300,g78 Loan- Lloyds Bank- Olive Building Loan- Lloyds Bank- CBILS (658.927) 658.927 (1.500.000) (1.500.000) Trltal 4294.561 I J06J17 5,800,878 2021 2020 AD•lysi$ of movements In ¢•sh IncreaseJ(decrease) in e8sh in the year Cash (inyoutflow from in￿¢￿￿d￿rea$¢ ID debt 2J47,390 (841,073) 241,452 593,258 MOv¢me￿t in Det (deb¢yfuDds tb¢ yexr .506J17 834.710 Opening net funds 4294,561 3.459,851 Closlng net fuftds 5,800,878 4,294,561 DAUNTSEY'S SCHOOL NOTES TO THE CONSOLIDATED CASH FLOW sfATEMENT FOR THE YEAR ENDED 31 AUGUST2021 RECONCILIATION OF NET INCOME TO NET CASHFLOW FROM OPERATING AcfIviTIFS 2021 2020 Net deficiVinc￿Ie for the year befi)re investsnent gajnO(los￿) Depreciation Loss on disposal of &sset5 Interest re¢eiv¢d Inve￿ment incom¢ De¢reasel{incr¢asel in debtors (De¢reaseyin¢rease in ¢￿ditorS - fees in advance other {291,842) 888.209 S61.579 892,013 {140} (18,7071 (281,104) 80.080 1,619.387 8.833 {3.085) (18.339) 120.356 (31yI.758) 217,899 (16.207) Ilncreaseydecrease in Mock c&sh inflow from Btoup ¢)perntions 2,004,716 1,454.571 25 DAUNTSEY'S SCHOOL P40TES TO THE FINANCIAL srATEME￿rS FOR THE YEAR Ef4DED 31 AUGUST 2021 l. AccouiYfiNG POLICIES Thc financial statements have been prcpared in accordznce with the Chariiies Statwnent of Recommended Practic¢ ("SORP (FRS1021"I, Financial keporting Pra¢ti¢e appli¢able in the UK and Republic of Ireland (FRS 102) second edition effective l January 2020 and the Companies Act 2006. The funeti¢)nal currency of the School is GBP because that is the ¢wr¢n¢y of the primary ewnomi¢ environm¢ni in which the School operates. The charity has tsken adw4ntage of the exempiion avaiknble to a qualifying entity in FRS 102 from the requirement 10 present a charity only Cash Flow Ststetncnt with the CO￿￿011dated financial statements. Havin8reviewed the funding fa¢iliiiesavailable ¢0 the SclhJ)I 1ogetherwiththeexpe¢￿ ongoingdemand forpla¢es and the S¢h)ol's fiJtur¢ projected cash flows, the Governors have a r¢a5(mable expectation that the School ha5 8dequaie resources io cortlinue its activities for thc foreseeable future. Accordin8ty, they continue to adopt the goin8 concern basi5 in preparing the financial statements. During the Covid-19 I￿kdOWn v8Tiou5 fI￿ncIal 'what- if Scenarios were prepared and reviewed by Governor& The Sch(￿1 made a successful application for £1.5M to the CoronaviTUS Business Int¢miption S¢heme which was received October 2020. This is a precautionary measure in case there are furtheT impediments to fees teceivable. The School is a Public Bcncfit Entity rc8isfcred as a charity in England and Wales and is a company limited by guarontee. The memb¢TS of the company are the Govemors named on page 3. Irt the event of the company being wound up, the liability in respert of the guarantee is limitedto £10 permemberofthe cornpany. li w85 incorporatcd on I l July 2006 (company number 58726941 and registered a5 a elwity OD 31 July 2006 (charity numb¢r 1115638). The Schools re815ter￿ offlce ￿ Daunt5ey's Schwl. West LaViTh8t0￿ Deviz¢4 Wiltshir¢. SNIO 4HE. Th¢ preparation of finaD¢ial statem¢nts in ¢omplian¢e with FRS 102 requires the use of certain criii¢al accounting emimates. It also Tequires management to exer¢ise judgment in applyin# the Charity's %counting ￿lI¢jeS. The key judgement that has been ￿p]led by managernent relatesto the fully funded pension deficit recovery plan aTisÈng from the r¢c¢nttTiannual valuation. The SclxK)I h&$ adopted the methodology provided by Tpfretirement solutions (previously Th¢ Pensions TnLSt)to represent thenet pr¢5entvalu¢¢al¢ulation ondasso¢iated costs. We will Continue to monitor developments so th* our fitwicial plans can gjsthiti futurc defirits or whcther the schemes remaitt affordable. The 4¢wuntin8 p)lici¢s a￿pI¢d ar¢ d¢xribgJ below.. Group financial statements These financial $tatemertts conwlidate the rcsults of thc charttdblc company and its wholly OWlLcd sub5idiari¢s Daunlsey's Sch(xyl Librnry Services Limit¢d, Jolie Brise Limited 8nd Dauntsey's S¢hool Enterprises Limited. In a¢cord8n¢e with Sethion 408 of the Compnies Act 2006. no separdte Stsiement of Financial Arfiviiies is presented for Dauntsey's Schwl. The incoming re50urccs of the Charity are disclosed in note 17. b) Basis of AccountinB These financial slatements have been under the historical c(Jrtvention Is modified by the revaluation of certain Ossets. In￿rne Fe¢5 re¢eivabl¢, other educational in¢om¢, s¢hwl shops and other an¢illary income for services athd use of premises are ￿coUnted for in the year it) which the service is provided. Fecs rrfeivablc arc stated after deduciing 811owances. scholawships and bursaries allowed by the sch￿]. Investment incotne 15 accounted for in the year in which the cornpany RS entitled to receipL tA)nation5 ar¢ accowited for upon rerKipL d) Expenditure Direct ¢haritable ¢xpMdifvYe ¢onsistsofall expendifvredirectly relatingtothe obje¢tsofihe Charity. Certsin central Costs which cannot be directly &lloc•tcd are &pp)rtioned be￿ten charitzblc actlVLtics and thc costs of generating fimds. based on estimate5 by rnan88¢rnent of the tiroe spenl on the relev￿t fill￿10n$. GovernaTrc¢ ¢osts compris¢ th¢ costs of nMDi￿ th¢ Charity. indudinB straiegi¢ planning for its futtwe. 26 DAUNTSEY'S SCHOOL NOTES TO THE FINANCIAL STATEI¥IENTS FOR THE YEAR ENDED31 AUGusf 2021 ACCOUNTING POLICILS {¢o*tittu¢d) developmeni, external wdit and legal advice for Dauntsty's School Cy)vernors, and all ihe costs of Complying with consi1￿tiOnal and slaiutory T¢quirerneThts. IrrecoYtTable VAT is included within the calegory of expenses to which it relatC5. Tangible Fixed Assets Tangible Fixed Assets are shown ai ¢OSL Depre¢ia¢ion is Fffovided at the following armual rates in order to wri¢e off each ￿et over its esiimated usefvl life.. Freehold buildings Computers Sail training vessel Furnishings and improv¢m¢n Plani arbd equipment - 50 yeaTS - 3 years - 20 years 14 years - 20*• reduciTh8 balance No depreciation 15 provided on freeknld land or assets in the ￿urse of construction Investments IDv¢siments are stated in the financial $￿eMents ￿ market value. Realised gainsor Ios5Cs frorn investment disp)sals (sale procttds less openin8 marke¢ valu¢) and unrealised gains or losses arising from the change in volue of those inveslmenls still held are disclosed in the Statcmeni of Fitsa￿bal Activitie& Invesiments in subsidi8ri¢s are valued at cost. g) Stock Stock 15 carried at the lowerof wst ond nei v¢alisabk value. h) Fin8ThcÈal instruments are tnitially rttognised at uans8fflioD value and subsequently mvd$ured ai amortised st except for investments which are held ai fail value. Finan¢ial assets held at amortis¢d c051 comprise cash at bank and in hand. lo￿ther with fee debtors, extras billed in July and other debtOTS. A spe¢ific provision is made for debts for which recoverability is in dwbl. Cash at bank aThd in hand is defined as all ¢ash held in instant access bank accounts and used as working ¢#piral. Finan¢ial Itabilities held at aniorti5¢d ¢os¢ ¢omprise all creditors except ￿)¢1&1 security and other la¥¢s and provision$. Assets and liabilities held in foreign ¢uThency are irdnslated to GBP at the ba]an¢e shed dale at an appropri* year end exchan8e rate. Unrestri¢ted Funds These fimds 8re expendable 81 the diKr¢tion of the Trurtees in furtherance of the objeds of the Charity. i) Iksignated Funds These funds are sd aside * ihe dis¢retion of the Twstees for a particular purposc. k) Expendable Endowmeni funds Th¢se funds represent monies Teceivtd whcTC the iTKome ari$ing 1$ Testri¢t¢d to a particu18r purpose. The Irusiees may also use the capital of the fi]nd where necessary. i) Permanertt EMlowm¢nt fijnd The5c fimd5 represent funds thich are restricted for the purFrfJSe of providing bursary support. R¢51ricted Funds ReStr￿Cted fiLDds represent amurtts don￿ed ¢0 the Sclwol for a specific purpDSe. Pension5 The Schwl operates 5cparnt¢ pension s¢hem¢$ for tea¢hin8 and Th)n-teachin8 Staff which are d¢s¢rib¢d in Not¢ 7. The School's reswnshbility i$ limited to its contribuiions, whi¢h are clwged a84Lnsi ineoming resources in the year in which th¢y are m*k. 27 DAUNTSEY'S SCHOOL NOTES TO THE FINANCIAL &fATEMgNTS FOR THE YEAR ENDED 31 AUGusf 2021 ACCOUNTING POLICIES (eontltsued} Operntin8 Lt4SCS Rentals for ￿ets held underryerating leases arecharged to the In￿Ming resources ￿theY become p￿&ble. p) Furlough income Furlou8h incorne 15 accounted for in the year in whi¢h ¢mploye¢5 were pla¢¢d on temporary leave. SCHOOL FEES 2•2A 2020 Gross board and tuition fees Less.. kholarships Less: Bursaries - Daunisey's Sch￿] - Old Dauntseian5' Association Bursary Fund - OtherBuTSary Fund Less: Discounts- Siblit)g -Stsff - Salary SaLYifjce scheme 19.772.782 (440.008) (502.822) (7,500) (3,000) {687.746> (588.8331 18,854,995 (526.702) (464.527) {3,000) (584,986) (641.436) 1111,238) 17.54187) 17.676 497,970 16.523.106 16.060 453,745 Add.. Scholarships funded fn)m endowment funds Bursaries funded frDrn restri￿ed funds 18,058,519 16,922,911 All other incoming resources are attributable ￿ the continuin8 activktie5 of th¢ Group ¥nd we earn¢d entir¢ly Wlthin th¢ United Kingdom. 28 DAUNTSEY'S SCHOOL NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED3A AUGUSf 2021 INCOME FROM Su￿IDIAR[ES. TRADING AcfiviTIES Jolie Brise Limited {JBL) (¢ompany nurnber.. 03234906) Dauntsey's School Ente￿n$¢$ Limiled {DSELI (company ￿rnber. 02956098) Both companies are regis*r¢d in th¢ UK and wholly owned by Dauntsey's School. The trddhn8 r¢sult$ fortheyear, as extracted Irom thc awlitcd financial stst¢ments. are sunll￿ below: JBL 2•21 DSEL 2021 Totsl 2•21 T￿n￿ver- ¢x¢ernai 13.n5 15,235 ijoo 13,735 15.235 Cost of sales- Dauntsey's S¢1￿1 extem&l (5.008) (6.408) (5,008) (7,7781 iJ70 Net profit 130 2,319 2.449 DistrIb￿lOn under8ift aid (130) (2,319) (2,449) Debtors Cash and bank Creditors 2,790 7.622 18.0541 2,790 13,056 113,343} 5.434 (5.2891 Net Aiseti 145 2.358 2.503 ShAre C*pil*l Reserves Called up share ¢apital Profit and105$ R¢s¢rv¢ 143 2,356 2.499 145 2.358 2.503 Ai 31 August 2021 Ibere was a balan¢¢ of £2.449 (2020.. £36.3801 owed io the sch￿] by the subsidiary entities. No remuneralion. dividend or any other fomi of reward or benefit h&$ been received by Chairman, the Head M&st¢r or the Bursar from the trading subsidiaries. The registered office for Ix>th subsidvdrie5 is as follows: Daunisey's S¢hool We51 Lavington Devizes Wiltshire SNIO 4HE The wholly owned trading subsidiary Dauntsey's School Librory S¢rvic¢s Limited was expected io be woun&up during2019-20. This was delayed as 8wesultofCoviik19. butth¢cornpany was finally dissolved on 29 September 2020. 29 DAUNTSEY'S SCHOOL NOTES TO THE FINANCIAL sfATEMEKrs FOR THE YEAR Ef4DED 31 AUGUST 2021 INCOME FROM SUBSIDIARJES, TRADING AcllvITIES (colltiDlled) COMPARISON 31 AUGUST 2020 JBL 2020 DSLSL 2020 DSEL 2020 Total 2020 Tyrnov¢r- external 16.853 24,777 41.630 16.853 24.777 41.630 Cost of sales- Dauntsey's School . extern (4.187) (4.6￿) {4,187} (7.627) (2.9J7) Net profitl(loss) 13.916 15.900 29,816 Distribution urtdergift aid (13.916) (15.900) (29.8161 Debtors Cash and bank CreditOf5 100 475 21.483 (19,6001 575 41.683 (39.655) 20,2 (20,055) Net Assets 145 2,358 2.603 Sh•rt Thpi¢AI •Dd R¢s¢rv Called up share capital Profit and 10$5 Re5erYe 04 2.499 143 2256 145 2.358 2.603 OTHER INCOME 2021 2020 Eduf8tionAI Activities Entrancc aTKI registsHiion ftes Cowses and S￿￿lettIng$ 41.699 21,099 39.900 320 62,798 40,220 AD¢lllary intome.. Insuran¢¢wnml￿ion 325 3,123 30 DAUNTSEY'S SCHOOL NOTES TO THE FINANCIAL STATEmE1￿[s FOR THE YEARENDED31 AUGUST 2021 S. ANALYSIS OF EXPENDITURE St•ff Cmts Othtr Costs Depretiatlo Total EipeThditur¢ on r*ising funds: Tradin8 COSI$ Fundraising & development Finan¢in8 charges School shop 7.778 3,558 33.020 233.117 7,778 39,168 33.020 352,989 35.610 119.872 Expend5¢￿￿¢ on Cbxritxbl¢ Adiviti School operating cosis= Tea¢hiTh8 costs Wclfare Premises Support & Governance costs Grants. awards and prizes ,067,671 ,971.813 431.706 854.807 1,396.623 976,607 2.725.628 895.941 518,950 86.167 17.444 776,J15 8283 9,550,461 2.965.864 i.93i,649 1,759,031 518.950 Tot*1 Eipwditwr¢- 2021 11.481.479 6.791.222 888.209 19,160,9IO ANALYSIS OF EXPENDITURE COMPARISON 31 AUGu%f 2•20 St*ff Cwts OthtrC05ts Depreciatitsn Total EXpendit￿re on rnisymg fund$: Trading c05t5 Fundraising & devek>ptnent Financing charges SchcK)I shop 7.627 5.079 33.392 177.510 7,627 40.721 33.392 291.846 35.642 114.336 Expenditure on Charilable Artivities hool op¢rating costs: Tea¢hing costs Welfare Prcmises Support & &)vemance o)sts Granw awards and prizes 7.996.931 2,034,181 501.164 853.113 1.302.603 637.473 1.678.872 853.477 473.968 77.715 21.805 782.139 10.354 9.377,249 2,693,459 2,962,175 1,716.944 473,968 Tot•1 Expenditure- 2020 11.535.367 5.170,001 892.013 17.597.381 AII costs includd in charitable activities art dired costs except for suppon wsts of schoolin8 which comprise". 21121 2020 Wages and salaries Recruiting. trainiEhg. health & safety Offlce eXpe￿Il￿￿e and travel Allocated depreciation Governance 858,807 403.867 449.008 8.283 39.066 B57,113 414,964 403.977 10.354 30.536 1.759.031 1,716,944 31 DAUNTSEY'S SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIYDED 31 AUGUST 2021 OPERAIING SURPLUS 2021 2020 Opcrating Surplus for the year is 5tatcd after charging: Auditors, remuneration for audit services Auditors. remuneration ftsr tsxaiion compliance services Operating leases Depreciation 25.080 2.500 272.850 888,209 24.600 2,400 224,764 892,013 STAFF cO￿s 2021 Nts. 2020 The averdge (full time equivalenf) numberof ernploye4 including part time. within each ￿tegOry of persons was.. T￿chIng sraff Administration staff 137{116) 189 (153) 133(116) 202 (163) 326 (2691 335 (279) The costs incurred in respect of these employtts were: Wa8es and salaries Social Security costs P¢n5ion costs 9.027,798 882.601 1.571.079 9.099,375 881,208 1.554.784 11,481.478 11.535.367 The number of higher paid employtts was: Taxable emolumethts band: £60.000- £69.000 £70,000- £79,999 £90,000- £99,999 £120.000- £129.999 £130.000- £139.999 £190.000- £199,999 £200,000- £209,999 2021 2020 A88rc8atc employee salaric5 and bcncfits of key managcmcnt personnel £813.265 £823.196 Temiination payments in th¢ year kntaile44 £34.849 {2020: £223.4￿). No govcrnors receivtd any remuneration. One governor Teceived reimbursed CXPEnses in respect of trdvel, accommodation and trainiTh8 totailin8 £155 (2020.. Five governors were reimbursed £1 J671. During the year the School obtsirted. within its gerternl insut8nee. professioMI indemnity and governors liability insurance coverof £5.0o0.L￿O. P¢n$ion Contrlbu¢ioDS •nd Commitments The School participates in the Teachers. Pension Scheme fthe TPSY for its teachirtg staff. The pension Charge for the year includes contribution5 payable to the TPS of £1.198k (2020.. £1.146kl and at the year-end £148k (2020.. £137k) was aecrued in respect of c0ntriljulk￿S to thi$ %heme. The TPS is an unfvnded multi•anployer defined benefits pension s¢heme governed by The Teachers. Pensions Regulations 2010 las amended) artd The Teaehers, Pension Scheme Regulations 2014 (as amended). Members eontribute on a "pay a5 YOU 80" basi5 with contribution5 from members and the employer bein8 cr&lited io the Ex¢h¢qu¢r. Retir¢ment 8t￿ other pension benefits are patd by public pn)vid¢d by Parliarnent. 32 DAUNTSEY'S SCHOOL NOTES TO THE Fif4ANCIAL sfATEMENTS FOR THE YEAR ENDED 31 AUGUST2021 The employer contribution rate is set by th¢ Secretary of S￿¢ following ￿h¢m¢ valuaiions undertaken by the Government Actuary's Dcpartmcnt. The m051 recent acluarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Rewjrt. which was published in March 2019. confirncd that the employer contri￿tion rate foT the TPS would in¢rt8se fiom 16.4% ￿ 23.6Yo from I September 2019. Employers 4]so r¢qu¥r¢d to pay scheme administration le￿ of 0.08Yo giving a total employer contribuiion rate of 23.68%. The 31 March 2016 Valuatton R¢port Was prepara iti ¥wrdance with the benefits sct out in the scheme ￿gUlatIOnS and ukdet ihe approach specifjed in the Directions, Is they applied at 5 March 2019. However. ¢he aysumption5 were ¢onsidered aThd sei by the tkpmeni for Educaiion prboi io th¢ ruling in the'McCloudlSargeant case.. This case has required thc courts to cotlsider cases regarding the implemenration of the 201S refomis to Public Service Pensions including the Teachets. Pensions. On 27 Jlme 2019 the Supreme Court dcnicd thc 8overnrncnt pernLiS550rt to appeal the Court of Appeal's judgment that transitional provLSLons introduced to tht rcformcd pcTh5ion Schemes in 2015 gave rise to unkawful ase discrimination. The government is respectin8 the Court's decision arml has sthid it will engage fully with the Employment Tribunal as well as employer and member representatives to a8ree how the dis¢riminaiions will F remedied. The govemmeni announ¢¢d on 4 February 2021 that it iniepds to proceed with a deferr￿ thoirc underpin under which members will be able to choose either legacy or refornied %hemt bcncfits io respect of their vThic¢ during the period between l April 2015 31 March 2022 at the rKJint become payable. The TPS is subjcct to a CO￿ cap mechanism ivhi¢h was pui in place io prNect taxpayers 98ain5t unforeseen Changes in 5cherne e05ts. The Chief Secrethry to the Treasury. having in 2018 announ¢ed that there would be a review of this w$t ¢ap mechanism. in January 2019 announced a pause to the rosl rap m¢rhaDism followin8 the Court of Appeal'5 ruliii8 iii the Mccloud'sargeaiit case and until th¢r¢ is r¢rtainly aknui the value of pensions to employees from April 2015 onward5. The pau5c wa5 lifted in July 2020. ¢onsuliation was launched on 24 June on prop)sd Changes to the cost control mechanism folloivin8 a review by the Govrrnrneiii A¢luary. Th¢ wnsultation closed to resp)nse on 19 Augusi 2021 and rhe Oovernnient 15 currently analysing the responses. In view of the above Nlings and de¢ision$ th¢ assurnptions used itt the 31 March 2016 Actuarial Valuatioth may become inappropriate. In ihis scenark), a valuaiion prepared in accordance with ￿vised benefits and suitably revised assumpiions would yield different rewlts those C￿)taIned in the ActuirÉal valu￿10n. Until the cost cap mechanism review is completed li is possible to ¢onclude on any fjnancial impact or fuluTe hang¢5 to thc contribution Tal¢s of th¢ Trs. A￿OrdinglY* no provi$ion for8ny additional past benefil p¢n5ion costs Is included in these financial $tsiements. In September 2020 Governors beg•n a ¢i)nSult￿l0￿ period wilh acthic staff PToposing changes to pension rrangement$. A working 8roup wa5 e51ablished whisi the consulthtion was in PTQ8re55. In the Spring term. Gov¢mors de¢ided Dauntsey's would leavethe TPS. A defmed contribution 5chern¢ will beoffered from September 2022- the employeT'S Coniribution rat¢ will be 180/0 with crilical illness cover lunded Separately. The School operates four schemes for non-te8¢hing staff within TrT Retirement SolutTons &'mulii (661 employer scheme.. p￿vIOUSlY known as the Pension Trnsi. There are ihre¢ sch¢me5 with defjned benefits. Members of ¢he IIW final Salary scheme, whi¢h was ¢losed ￿ new members on 31 December 1994. cornpris¢ ¢mploy¢r contribulions of 20.5% ar￿ membcr (￿l￿butiONS of 9.P/ty Ther¢ ar¢ also two career average rclatcd earnings {CARE) benefit schemes. Members of the 1180 CARE scheme. Ivhich was closed to new enlrants on 31 August 2013. comprise employ￿C0ntrjbUtIonS0fI6.2¢/oa￿d membcrcontributionsof6.5%_ Membersof th¢ 11120 CARE 5¢heme. which was closed to new entran15 in August 2019. comprise employer contriblltions of 8.1 /a and member contributions of 7.7/.. A 'd¢fu￿d CODtribution' scherne opeDed iti September 2019 for new ¢mploye¢5 and comprises employer contritwtions of 6Y• and member ¢ontributions of 5•/& All th¢ ￿heM¢S pemiil stsff to make addiiional witrtbutions. The S¢hool would hav¢ a residu81 liability if it ceased to wticipate in the IPT %hemes and in ￿dItiOn, a joint and several liability exists in the eveni ihatsome orall ofthe other membersof the kh¢m¢ were io default. The triennial va]uaiion which t(K)k placeon 30 S¢piember 2017 resulted inthe School makhng annual deficil ronlribuiions Starting at £144.329 frorn S¢ptember2019, 10 in¢r¢aseai 3°h perannum until April 2030. The 202￿21 contributionstotalled £148.659. The pension5 sch¢m¢ seryice CO$￿ the inierest cost and any aciuarial gainsnosses arc charged to the SOFA each year. The liabiliiies are measura on an athwiai basbs at the balance sllttt date. using a discount rnte J3 DAUNTSEY'S SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 which would give the same result$ as using a full AA Corporate yield Curve to dis¢ouftt the same recovery plan contributio￿. The resuliing liability is included IN the btt]ttrKe sheet £1.420.804 (2020= £1.567.9211. TAXATION Therc is no liability to CorpoAtion Tax due to the Company's charitable stalus. TANGIBLE FIXED ASSETS- GROUP AND CHARrrY Pl•Trt. furni8hings and equipmenl Sailing Vessel (Jolie Brlse) Group Total Fr¢¢hold L*nd and Buildings COST As ai 01 Sep. 2020 Additions Tr8nsfers DIS￿5315 31.119.477 174J54 3.172.842 89.843 98,753 34J91,072 264.197 At 31 August 2021 31.293.831 3.262,685 98,753 34,655.269 DEPRECIATION As at 01 Sep. 2020 Disposals Charge forthe year 8,081352 1746,981 87,837 10,917.170 740.400 142.871 4.938 888209 At 31 Augusi 2021 .822.752 2.889,852 92,775 11,805J79 BOOK VALUE At 31 Aiigust 2021 22.471.079 372,833 5,978 22.849,890 At 31 August 2020 23.037.125 425.861 10,916 23.473.902 10. INVESTMEIYTS Endowment Uttrestrleted Fund% Fund5 Grrjup and Ch4rity Llsted investmtmts Market value as at I September 2020 Additlons Disposals Unrealised gains 1.199.125 16,469 (13.475) 101.366 516.770 750,055 (500.000) 42.397 1.715,895 766,525 (513.475) 143.763 MaTket value as at 31 Au8U5t 2021 1,303.485 809,222 2,112,707 Ch•rity Investjnent IA svbsidiaries Cost as at I Septembcr 2020 104 Cost as at 31 August 2021 Toial as at 31 Augll￿ 2021 .303,485 809.226 2,112,711 34 DAUNTSEY'S SCHOOL NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 AUGUST2021 10. INVESTMENTS (continued) INyL￿mE￿fS COMPARISON 31 AUGusf 2020 En&)wthent FuNds Unrestricted Funds Total Croup and Ch*rity List¢d investmeTrts Market value as at I Seplember 2019 Additions Disposals Unr¢alised gains ,176259 18,651 {15.660) 19,875 3.030 500.496 1.179289 519,147 (15,6601 33.119 13.244 Market value as ai 31 Augwqf 2020 1.199.125 516,770 1.715,895 Charity Investrnent in sub5idiarie5 C05t as at I Septernbcr 2019 104 104 Cost as at 31 Au8llSt 2020 104 Total as at 31 Au8U5t 2020 1.199.125 516,g75 1,715,9 DEBTORS Grn￿P 1021 Group 2•2 Ch•rlty 2020 2011 Fee debtors Exlrd5 billed in July her debtors Pr¢paym¢nts and accrued income Amounts dy¢ frorn 5ub5idiaries 27.807 267.193 8.630 334.251 27.807 267.193 5.840 334.251 2.543 18.824 28.675 475 308,808 18.824 28,675 308.808 29,712 637.881 637.639 356,782 386,023 12. CREDITORS: *mounts f•ll*ry du¢ withijb one yt*r Group 2021 Group 202 Cbarlty 2020 21121 Loan- Lloyds Bank- Olive buildin8 Loan- Lloyds Bank- CBILS Trade Crediiors Swdent deposi Fees in advan¢¢- On¢•ye*r s¢hem¢ - other Deferred incorne Taxation and social security Accruals and provisions Pension liability 607,365 607,365 250.000 49.431 1.673.504 2.806.356 3.067,038 250.000 49.431 1.673.504 2.806.356 3.067,038 218,198 lJ41.615 2.726.278 2.022,645 41,862 234.816 300.936 148,659 218.198 .541,61S 2,726,278 2.022,645 43.862 234.816 291.096 148.659 222.148 1.116.459 153.119 221148 ,105,664 153.119 9.338.055 9.327.2 7.844,374 7.834,534 Siud¢nt d¢wisit$ are treated as (allin8 due within (ffle year as they repayable if a tem1'5 notice 1$ 8iver¢ 35 DAUNTSEY'S SCHOOL NOTES TO THE FINANCIAL sfATEMENrs FOR THE YEAR Ef4DED 31 AUGusf 2021 12. CREDITORS: *moutsts f*lll#g d￿t wlthlth othe y￿r {eo#tlthued) SUMM￿ of movements in fees in advance #nd deferrcd ineornt Group Charily Balancc a5 * I September 2020 Amounts released Amounts deferred in the year 4,792.785 (4.792,785) 5,873.394 4,792.785 (4,792,785) 5.873,394 Balance as at 31 August 2021 5.873.394 5.873.394 13. CREDITORS: •mounts f•JlinE dut after one ye*r Group 2021 Chgrity 2021 Grollp 2020 Ch•rity 2(120 Loan- Lloyds Bank- Olive building Loan- Lloyds Bank- CBILS Pension Liability 51,562 51.562 1250.000 1267.684 1,250.000 1.267.684 1.419.263 1,419.263 2J17.684 1517.684 1.470,825 ,470,825 The Olive building loan Secured by rnortgagcs over land and buildin85 at Dauntsey'5 School and adjacent land and housing in West Lavin8ton and repaid early in July 2021. The CBItS (Coronavirus Business Intemipiion tKJan kh¢me) loan is secured on the adjacent land and housing in West Laving￿ and the Manor House. Little￿Tr Panell. The variable 108n from Lloyds Bank was charged at IMS¢ Ate plus l.VA. The CBILS loan will beeome repayable from November 2021 at base rat¢ plus 2.43%. The ￿an and Pension Ttitsi liabilities art repayable in the followtng y 2021 211211 Within on¢ year Within one to h¥0 years Within No ￿ five years In more than five yetrs 403,119 455.240 1,433,540 623.904 756.024 202.694 472.532 795.599 2.920,803 2.226,849 I& ALLOCATION OV THE GROUP'S NKT A&srrs et Current Assetsl InvtJtmettts (U*bilities) Flxed IA)ng ten Li•billdes B#lathees Unrestricted funds Restricted funds Endowment funds 22.849,890 809226 (1,397,009) 226247 {2.517.684) 19,744.423 226.247 1.303.485 I J03.485 Cb•rlty funds 22.849,8 1112,711 {I.I70,7621 {2.517,6841 2l,274.l55 Subsidiaries. resetves (4) 2,503 2.499 Group fvndj 21849,8 1112.707 {1,168.259) 12,517,684) 21.276,654 36 DAuf4TSEY'S SCHOOL NOTESTO THE FINANCIALSTATEMEKrs FOR THE YEAR ENDED 31 AUGusf2021 14. ALLOCATION OF THE GROUP'S NET ASSM (tontiDued) The land and buildkng5 fornitn8 the Daunt5ey's SclM)ol cstate is a mixture of endowed land and buildings identified in the Charity Commission scheme dated 2(M16 and dating back to 1893. and other land and buildings Acquired by th¢ S¢hool from unr¢stri¢ied $￿IplUS¢S lo¥n finath¢¢ over the yeats. The School has developed various buildings on the site, 8nd this h8s r¢sult¢d in new builds and exlensions 5pannin8 both the endowed arhd unrestricted p)rtions of ihe esiate. As the Governors would not fore5ce a p051tion wherc any of the properties the main s¢hcol $ii¢ would b¢ sold, any allocation between unrestricted and endtsived property is meaningless in the overall strthtegy of ihc School. As approximaiion, the lathd and buhldin8s currently occupying the 0ri8inal cndowcd site are circa 45Y• of larMI and building$ £22.471.079 as dis¢los¢d in Dote 9. ALLOCATIOIY OF THE GROUP'S A&sKrs COMPARISON JI AUGUST 2020 Iyet C￿rre￿t Fixed Assets Fund Balance5 IDvestmethts (L4•bili¢i¢s) Li*bililie5 Unrestricted funds Restricted fund5 Endowm¢Thi fund5 23.473.9)0 516.875 (2.546.388) 247.670 1.878 {1.470,825) 19.973.562 247,670 ,201,002 l.l99.124 Charity funds 23,473.IA)O 1,715.W) 12296,840) {1.470.8251 21.422,234 Sub$idiaTies' reseryes (41 2.603 2,599 Group funds 23.473.9)0 1.715,895 12.2942371 11.470.825) 21.424.733 15. MOVEMENT OF FUNDS Balante *$ ¥1 01 Sep 2112• Investment G*lthsllix*ss¢s) amd Tr*n$fers Balance At 31 August 2(121 Expenditure Unresiricted funds Rc5tri¢tcd thnds-. - schth)I bursaries - other bursaries teaching charitable trust Expe￿JabIe endowment funds Pemiathent endowment fvnd 19,973,568 18.789.478 (18.593,2001 {425,423) 19,744,423 (467.820) (10.500) (25.000) {39,0901 (17.6771 467.820 10.500 25.0fy) 17.667 18,713 81 247.670 666.521 534,481 226,247 768,923 534,562 IOlJ66 Charity funds 21.422.240 18,861,439 (19,1532871 143.763 21.274.155 Unre5trictcd fut￿5 Restricted funds.. - ￿h0o1 ￿¥$IT1¢S . other burwi¢s teaching Charitable tnLSt Exw)dable endowmeni fund5 Pem)aneni endowment fvnd 19.976.061 18.797.107 (l8.￿o.823) (425,423) 19,746.922 (467.820) {10.500) (25.000) {39.0￿> {17.677) 467.820 10.sf 2s.oi 17.667 18.713 81 247.670 666.521 534,481 226,247 768.923 534.562 101.366 Group funds 21.424.733 18.869.068 (19,160.9101 143.763 21.276.654 37 DAUNTSEY'S SCHOOL NOTES TO THE FINANCIAL sfATEME FOR THE YEAR ENDED 31 AUGusf 2021 MOVEMET+rr IN FUNDS (eonll**ed) DESICNATED FUNDS The School does not currently have any d¢sign•td fimds RESTRICTED FUNDS Restricted funds comprise monie5 received for capital projects and other 5pecLfic purrx)ses. Once the purpose for which the monie5 werc received has been met, and on the basis that there wtrc no further restrictions that continue to 8pply. the fijnds are transfe¥red to wwesthcted funds. PERMAT4ENT ENDOWMENT FUNDS The pennanent endowment fund r¢pres¢nts monies received for fhe award of bur5arie5 from fvnds transfeffed from the Dauntsey's S¢hty)I Chartlable TTUSt and donations during the year. TrAnsfers between I￿n￿l £467.820 w&5 transferred from unrestri¢t¢d tt) restrided fi￿&$. This cornpri5ed £361,170. the minimum 2y*l of n¢¢ fee in¢om¢ required to provide bursaries, an obj¢¢tive in the S¢hool'$ Boveming do¢umen¢ and £106,650 applied at the dis¢reiion of ihe tntsttts to augment this objective. EXPENDABLE ENDOWMENT FUNDS Endowment futmis represent monies r¢c¢iv¢d for th¢ award of bursaries priz¢5. BaixDce 85 tISept 202 B4l*Dce lit 31 August 2021 IDcorne Expenditure Investment G•iDS Bursarles Hernens Bllr$￿ Fund Foundation Bursary Fund 2852 304.289 8.017 8J72 (9.458) (S,895) 43.428 45.344 327277 352.110 Prize fund5 Physics Salter Gordon Saynd¢rs Memori Barron Marsden Newsom Bagn¢ll Sidney Gilliai Hemen H (15.(￿> (19.650} (16.060} 431.095 J.0 15.000 31.207 18.526 2.402 236.113 644.181 532.079 247.670 666.521 534.481 19.875 Group funds 20.830.035 18.158.960 (17.597.375) 33,119 21.424.733 Trlnsfers brfween funds £431.095 was tran$ferTed fmm unrestri¢*d to restricted fun&. This being £339.858. the niinimum 2Y(* of nei ftt income required io provide bunaries. objeciive in the SC1K￿l's governin8 th)cument and £91.237 applied ai the discretion of the trustees to augrnent thi5 objeciive. 39 DAUNTSEY'S SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARENDKD 31 AUGUST2021 Is. MOVEMENT OF FUNDS (c￿1]llyed) EXPENDABLE ENDOwmE￿r FUNDS COMPARISON 31 AUGusf 2020 Endowment fund5 r¢pres¢nt monie5 received for the award of bursaries and prizes. B41￿¢¢ •$ •t I S¢pt 2019 BalAn¢e at 31 Augujt 2020 In¢oJD¢ Expenditurt Investment Gains Bursxri¢s Hemens Bursary Fund Foundation Bursary Fund Prize funils Phy51¢S Salter Gordon SauThlers Memorial Barrnn Marsdcn Newsom 277.024 292.690 7,937 8JlO 18,1811 (5.601) 8.510 B.890 285290 304,289 1.552 3.609 9.601 1.493 1.693 1.348 12,151 939 .575 4.458 8.728 1691 703 3.660 4.589 1.962 904 2.706 10.105 (48) (iio) (294) (46) (52) (41) (372) (29) (48) (136) (267) (82) (22) (112) (140) (60) 128) 183) (309) 52 120 319 50 58 110 294 3.729 9,920 1,543 1,751 1.394 12.555 970 1,628 4,606 9.018 2,779 727 3,780 4,741 2,028 934 2,796 10,442 52 41 372 29 Bagnell Sidney Gilliat Hcmen Hockey Sound Citiz¢n Bobby Nelson John Gosling Pethnger Matti Piddock Hugo Halke5 John Abttert Startto Anna Roberts Old Dauntseians 404 31 53 148 2￿ 88 24 120 152 136 267 82 112 140 28 83 309 30 334 TotAI 644.181 18.526 (16.1W) 19,875 666.524 Perm*Thent endowment fuud 531079 2.402 532,079 16. FINANCIAL COMMITMENTS 2021 2020 Operatin8 leases payable.. Within one year In ihe second to fiflh ye4rs More than five yea 254,997 287,994 224.532 282,102 Capithl expendimre corttracted for bu¢ not provided in the fmancial Statements". DAUNTSEY'S SCHOOL NOTES TO THE FINANCIAL sTATE￿IENTs FOR THE YEAR ENDED31 AUGusf2O21 17. ANALYSIS OF SCHOOL RESULTS induded ID the comsolidAted s(*tement of Financial Activities Total 2021 Tot*1 2112• INCOME Income from Ch4rit*bl¢ •¢tlvi(ies hool fees her ¢dll¢aiional income An¢illary in¢om¢ School 5hop5 Ineorne from othtr *divilies Trading cornpaThies Inve5tmentS Grants & tknnations. Mercers. Co. 18.058519 16.992,911 62,798 40,220 325 3.123 308201 226.908 18.847 27.000 343,643 41,957 21,424 17,000 809,056 40,691 Other To¢•1 In¢ome 18,861,291 18,151,333 EXPENDITURE Expendit￿re on rai5img funds Trading costs Fundraising snd Devekwment rinajicing charges School shops 39,168 33.020 352,989 40,721 33.392 291,846 Expemdbtmre on Ch4ri¢*bl¢ Activities School operating ¢osts-. Teachin Welfare Premises Supp)rt & G)vttnance GTants. awards artd prizes 9,467.515 2,965.864 3,807,420 .968.205 518.951 9.302.505 2.693.411 2,891,035 .862,874 473.970 Ttst41 Expenditure 19.153.132 17.589.754 NET INCOMEI(EXPENDITI)RE) befo￿ net g*iDslO05ses) invutm¢nt$ Unrealised investment gains (291.842) 561.579 143.763 33,119 NET MOVEMETrrr IN wuf4DS (J48W79) 594.698 41 DAUNTSEY'S SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 3) AUGU￿ 2021 I& FINANCIAL INSTRUMEffTS Group 2•21 Chgrity 2021 Group 2020 Charity 2020 Financiol ass¢ts mwur¢d at arnorti5ed wst (a) 392.488 392.241 159,572 188,812 Financial ass¢is measured at fair value Ib) 2,112,707 2,112,711 .715,895 1,715,999 Financiftl assets in Cath 7JOO.882 7.287.827 4.953.493 4.911,810 Financial liabilities measured ￿ amonised ¢ost(c} (8.712.786) (8,701.986) {7.508,566) 17,498,726} (a) Financial ￿Sets include fe¢ d¢btor& ¢xtrgs billed in July. other debtor8 acuued incom¢ and amounts due from subsidiary. (b) Financial assets held at faLT value included &5sets hEld as investments (c) FiDaDC1￿ liabiliiies irtelude bank lo*L dep)sits, fees in advaDee, trdde creditor5. and other creditors. lmpairni￿l losses Charged to financial assets measured at anytised cost in the yearamounted to £012020: £0). 19. RELATED PARTIES Th¢re are governors and membEf5 ofthe senkor mana8ernent team ar¢ as￿lated with the School by either having grand ¢hildr¢n or children who aT¢ pupils at lh¢ S¢hool. Mr C H de N Lu¢8s. a Governor of Dauntsey'5 SchLM)l. is a cornrnitlec mcrnber of the Old Dauntsei8ns' Association and ¥ trustee ofthe Old Dauntseians. A550Ci8tion Bursary Fund. 20. TrANSFER AND UNITING OIWER On I Seplembcr 2007 the assds and li8bilitiC5 and op¢rnlions of Dauntscy's Sch￿1 Foundation (¢harhty rc815tration number 309480) were transferred to Dauntsq'5 School (charity n￿rnb￿ 1115638). except for those assets identified in the Charity Commission scheme 3uthorising that transf¢r. The S¢h¢me a150 includes a uniting dirertion, so these fittan¢ial Statements have be¢n pr¢pored on the basis that th¢ old chorÈty and new incorporated charity are wmbined for re￿rting puoose& 21. POST BALANCE SHEET EVENT A house pw¢hase for £385.IYIO in West Lavington 1$ in pyogress with Completion expected in November 2021. 42