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|||Page|
|---|---|---|
|Legal and Administrative|Information||
|Governors'<br>Report||2 —14|
|Independent<br>Auditor's|Report|15 —17|
|Statement of Financial|Activities|18|
|Balance Sheet||19|
|Cashf low Statement||20|
|Notes to the Financial|Statements|21 —34|





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|Employment<br>policy<br>The School is an equal opportunities<br>employer.<br>Full and fair consideration<br>is given tojob applications<br>from<br>disabled<br>persons and due consideration<br>is given to their training<br>and employment<br>needs. Consultation<br>with<br>employees,<br>or their<br>representatives,<br>has continued<br>at all levels<br>with<br>the<br>aim of taking<br>the views<br>of<br>employees<br>into account when decisions are made that are likely to affect their interests.|
|---|
|STRATEGIC REPORT|
|Risk Management<br>The Board of Governors<br>is responsible<br>for the management<br>of the risks faced<br>by the School. Detailed<br>considerations<br>of risk are delegated<br>to the Chair and the Chairs of the Governors'<br>Committees,<br>assisted<br>by the Headmaster<br>and Bursar. Risks are identified,<br>assessed,<br>and controls established<br>as part of the<br>work<br>of the<br>individual<br>Committees<br>A formal<br>review<br>of the charity's<br>risk management<br>processes<br>is<br>undertaken<br>each year and the main or key operational<br>risks identified<br>and these are documented<br>here:|
|Educational:|
|~<br>Academic standards<br>declining as reflected<br>by external<br>examination<br>results; mitigated<br>by.|
|Recruitment<br>and retention<br>of good quality teaching<br>staff;|
|Systematic<br>performance<br>review and development<br>ofteaching staff.|
|Pastoral:|
|~<br>Adverse<br>pastoral<br>matter arising;<br>mitigated<br>by:<br>Robust structures<br>and systems<br>in place to identify<br>and manage<br>behaviour<br>issues and|
|possible<br>underlying<br>causes,<br>Robust structures<br>in place to manage<br>and support<br>well-being,<br>including<br>an awareness<br>of and<br>close<br>supervision<br>of those<br>identified<br>as,<br>or who<br>identify<br>themselves<br>as,|
|vulnerable<br>members<br>ofthe community;|
|& Staff training<br>on specific issues (eg. self-harm,<br>suicide or bereavement).|
|Health<br>and Safety:<br>~<br>Failure to ensure safe, secure and suitable premises<br>and accommodation;<br>mitigated<br>by:<br>Organisational<br>structures<br>and resources<br>to sustain<br>regular<br>repairs<br>& maintenance;<br>Refurbishment<br>and<br>renewals<br>to<br>improve<br>and<br>meet<br>new<br>standards<br>of safety,|
|education,<br>environment,<br>technology<br>and legislation, as required.|
|Legal and/or<br>regulatory:<br>~<br>Failure to comply with statutory,<br>legal or educational<br>requirements;<br>mitigated<br>by:<br>Systematic<br>production<br>and<br>review of policies and procedures<br>carried out at all levels|
|by management<br>and staff trained<br>and supported<br>as required,<br>Organisation<br>and management<br>structures<br>to ensure<br>monitoring<br>and<br>implementation|
|of policies and procedures.|





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|FOR|'THE YE|AR ENDED 31 A|UGUST 2021||||
|---|---|---|---|---|---|---|
||||||Total|To/a/|
|||Unrestricted|Restricted|Endowed|Funds|Funds|
||Notes|Funds<br>f|Fundsf|Fundsf|2021f|2020f|
|Income from:|||||||
|Charitable<br>Activities<br>School fees<br>Other educational<br>income|2<br>3|13,189,514<br>485,250|||13,189,514<br>485,250|12,964,668<br>401,566|
|Other trading<br>activities<br>Other ancillary<br>trading<br>income<br>Non-ancillary<br>trading<br>income||555,558<br>195,850|||555,558<br>195,850|573,217<br>654,360|
|Investments<br>Investment<br>income||40,485|||40,485|56,063|
|Voluntary<br>sources<br>Donations|||157112||157112|72446|
|Total incoming<br>resources||14466657|157112||14623760|14722380|
|Expenditure<br>on:|||||||
|Raising funds<br>Fundraising<br>costs<br>Financing costs|5<br>5|122,933<br>10958|||122,933<br>10958|117,341<br>20 725|
|Total deductible costs||139091|||139091|140066|
|Charitable<br>activities<br>Education<br>and grantmaking|5|13874981|210 224||14D93 2D5|74 196 110|
|Total expenditure|5|14 D14 872|218 224||14233 D96|t4 342 t04|
|Net income from operations||451,785|(61,112)||390,673|360,196|
|Profit/(loss)<br>on investments|9|319,672|||319,672|(44,636)|
|Transfers<br>between<br>funds|16, 17|126 150|126156||||
|Net income for the year||897 613|187268||710 345|335360|
|Total funds at 1 September 2020||15452311|399849|2054307|179D6467|17571107|
|TOTAL FUNDS AT 31 AUGUST 2021|18|||~4e)0Z|~2a812|1ZW6.467|





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|||2021||2020|
|---|---|---|---|---|
||Notes|6|||
|FIXEDASSETS<br>Tangible<br>fixed assets<br>Investments|||20,469,139<br>1 629308|21,005,377<br>1219128|
||||22,098,447|22,284,505|
|CURRENT ASSETS<br>Stock<br>Debtors<br>Cash at bank and<br>in hand<br>10<br>11||2,190<br>577,010<br>2 250||2,707<br>621,417<br>1 141|
|||581,450||625,865|
|CREDITORS: amounts<br>one year|falling due within<br>12|~2 ~18 343||~3281 940|
|NET CURRENT LIABILITIES|||1936 893|~2656 081|
|TOTAL ASSETS LESS CURRENT LIABILITIES|||20,161,554|19,628,424|
|CREDITORS: amounts<br>more than one year|falling due after<br>13||1 544 742|1 721 957|
|NET ASSETS||||JZ90M667|
|FUNDS|||||
|Endowment<br>funds|15||2,054,307|2,054,307|
|Restricted<br>funds<br>Unrestricted<br>funds|16<br>17||212,581<br>10349924|399,849<br>15452 3t1|
|||||17~6~|



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||||Notes|2021f|2020f|
|---|---|---|---|---|---|
|NET CASH INFLOW FROM OPERATIONS<br>Net cash provided<br>by operating<br>activities||||1 071 812|568 069|
|Cash flows from investing<br>activities:<br>Payment<br>for tangible<br>fixed assets<br>Proceeds from sale of tangible<br>fixed assets<br>Additions<br>to investments<br>portfolio||||(304,537)<br>(33,430)|(1,254,067)<br>100<br>(45,189)|
|Withdrawal<br>from investments<br>portfolio<br>Investment<br>income||||40 485|56 083|
|Net cash used in investing<br>activities||||297482|1 243 073|
|Cash flows used by financing<br>activities:<br>Bank loan interest<br>paid and finance costs<br>Bank loan repayments||||(16,958)<br>~177215|(28,725)<br>~177215|
|Net cash used by financing<br>activities||||~I94173|~205 940|
|Change<br>in cash and cash equivalents<br>in the reporhng|period|||580,157|(880,944)|
|Cash and cash equivalents<br>at the beginning<br>ofthe period||||748 891|132 053|
|Cash and cash equivalents<br>at the end of the reporting|period||||889|
|including<br>overdrafts||||||
|(i) RECONCILIATION<br>OF NET INCOME TO NET CASH||FLOWS FROM||OPERATING||
|ACTIVITIES||||||
|||||2021f|2020|
|Net incoming<br>resources||||390,673|427,185|
|Elimination<br>of non-operating<br>cash flows'||||||
|Investment<br>income||||(40,485)|(56,083)|
|Finance costs||||16,958|28,725|
|Investment<br>management<br>fees<br>Depreciation<br>charge<br>Decrease<br>in stocks||||2,922<br>840,775<br>517|5, 049<br>854,699<br>2,008|
|Decrease<br>in debtors||||44,407|70,770|
|Decrease<br>in creditors||||(183,955)|(764,645)|
|Loss on sale offixed assets|||||361|
|Net cash inflow from operations|||||~56|
|(ii) ANALYSIS OF CHANGES<br>IN NET DEBT||||||
||1September|||Movement<br>in|31August|
||||2020f|the yearf|2021f|
|Net cash including<br>overdrafts<br>Bank Loan due with one year<br>Bank Loan due after more than one year||(748,891)<br>(177,215)<br>533252 884||580,157<br>~177215|(168,734)<br>(177,215)<br>~1075669|
|Net Debt||~21|~90|||





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|2.|FEES RECEIVABLE|||||||
|---|---|---|---|---|---|---|---|
||Income represents<br>gross|School fees invoiced,||less discounts|and allowances|2021|2020|
|||||||f|f|
||Gross school fees<br>Less Total bursaries,|grants and allowances||||14,954,527<br>~3,76~,013|14,570, 241<br>utt600056,, 555633|
|||||||13,189,514|12,964,666|
|3.|OTHER INCOME|||||2021|2020|
||Other educational<br>income:<br>After school clubs and school trips<br>Music, Lamda and learning<br>support||lessons|||f<br>169,706<br>315544|6<br>149,939<br>251,627|
|||||||485,250|401,566|
||Other ancillary<br>trading<br>Lunch charges<br>Food and cafe sales<br>Fee protection<br>scheme<br>Bus and coach service|income:<br> income||||2021f<br>475,504<br>7,105<br>18,513<br>54436|2020f<br>463,113<br>25,077<br>16,266<br>66,761|
|||||||555558|573,2t7|
|||||||2021|2020|
||Non-ancillary<br>trading<br>income:<br>Rent received<br>Government<br>grants<br>Other incoming<br>resources|||||f<br>4,179<br>138,780<br>52,891|f<br>22,756<br>585,911<br>45,711|
|||||||195,850|654,360|
||4. INTEREST|||||2021|2020|
|||||||f||
||Dividends<br>received<br>Interest received|||||33,430<br>7055|45,189<br>10,694|
|||||||40 485|56,083|





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|5. ANALYSIS OF T|OTAL RES|OURCES EXPEND|ED||||
|---|---|---|---|---|---|---|
||||||Total|Total|
|||Staff Costs|Other|Depreciation|2021|2020|
|Costs of generating<br>funds<br>Fundraising<br>costs<br>Financing<br>costs||6<br>108,204|6<br>14,729<br>16958||122,933<br>16,958|117,341<br>28,725|
|Total cost of generating|funds|108,204|31,687||139,891|146,066|
|Charitable<br>activities<br>Teaching<br>Welfare<br>Premises<br>Support<br>Governance<br>costs||8,839,954<br>702,667<br>259,942<br>1,098,312|378,897<br>282,460<br>792,155<br>876,950<br>21,093|840,775|9,218,851<br>985,127<br>1,892,872<br>1,975,262<br>21,093|9,288,937<br>963,522<br>1,977,894<br>1,943,423<br>22,342|
|7 1<br>1<br>1<br>ii bi<br>0|Dii|1090D,875|2,351 555|840,775|14,093,205|14,196,118|
|Total resources expended||11,DD9,079|2 383,242|84D,775|14,233 D90|14,342, 184|



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|mloed<br>bth|School|during|the year was as follows:|||
|---|---|---|---|---|---|
|py<br>y||||2021|2020|
|||||Number|Number|
|Teaching<br>staff <br>Administration<br>Premises|(including<br>academic support)<br>and support|||207<br>30<br>12|207<br>29<br>13|
|Welfare||||42|42|
|||||291|291|
|he aggregate|payroll costs of||these persons were as follows:|2021|2020|
|||||f||
|Wages and salaries<br>Social security costs<br>Pension costs||||8,577,173<br>831,820<br>1,572,792|8,313,079<br>816,604<br>1,539,909|
|Apprenticeship|levy|||27,294|26,755|
|||||11,009,079|10,696,347|





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|TAFF COSTS (continued)||||||
|---|---|---|---|---|---|
|The numbers<br>of employees|who earned|more than F60,000 per annum|were:|2021|2020|
|||||Number|Number|
|L60,001 — F70,000||||1|3|
|F70,001 — F80,000<br>F80,001 — F90,000||||1<br>3|1<br>3|
|F90,001 —F100,000||||3|1|
|F140,001 —F150,000|||||1|
|F160,001 - F170,000||||||



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|||||2021|2020|
|---|---|---|---|---|---|
|||||F|F|
|Auditor's<br>remuneration:|—audit services|||18,000|16,000|
|Auditor's<br>remuneration:|—other services|||2,280|2,770|
|NGIBLE FIXED ASSETS||||||
||Freehold|School|Fixtures and|Motor|Total|
||Properties<br>F|Equipment<br>6|Fittings<br>f|Vehicles<br>f||
|Cost||||||
|At 1 September 2020<br>Additions|24,274,693<br>160,926|1,122,481<br>125,001|1,582, 573<br>18,610|337,611|27,317,358<br>304,537|
|Disposals||135852|1 206|6000|143,058|
|At 31 August 2021|24 435619|1,111630|1 599977|331611|27478,837|
|Depreciation||||||
|At 1 September 2020<br>Charge for the year<br>On disposals|4,713,650<br>480,059|745,978<br>173,287<br>135852|630,572<br>139,704<br>1,206|221,781<br>47,725<br>6,000|6,311,983<br>840 775<br>(14»058)|
|At 31August 2021|5,193,709|783413|769,070|263,506|7,009698|
|Net Book Value||||||
|At 31August<br>2021|19,241 908|328 218|830,907|68,106|20,469 139|
|At 31 August 2020|19,561,043|376,503|952,001|115,830|21,005,377|



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|9.|INVESTMENTS||||
|---|---|---|---|---|
|a)|Investment<br>Portfolio||2021|2020|
||||f||
||At I September 2020<br>Reinvested<br>income||1,279,128<br>33,430|1,283, 824<br>45,189|
||Investment<br>management<br>Increase/(decrease)<br>in|fees<br> value of investments|(2,922)<br>319672|(5,049)<br>~44, ll36|
||At 31 August<br>2021||1629,3D8|1,279, 120|



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|TOCKS|||||
|---|---|---|---|---|
||||2021|2020|
||||E|E|
|Kitchen stores,|clothes and|prospectuses|219D|2,707|
|EBTORS|||||
||||2021|2020|
||||F|8|
|Fee debtors<br>Prepayments<br>Other debtors|and accrued|income|234,824<br>290,315<br>51 871|162,137<br>275,873<br>183,407|
||||577 D10|621 417|



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|REDITORS: a|mounts|falling due within one year|||
|---|---|---|---|---|
||||2021|2020|
||||5||
|Bank loan|||177,215|177,215|
|Bank overdraft|||170,984|750,632|
|Trade creditors|||354,459|447,392|
|Taxes and social security<br>Fees received<br>in advance|||377,541<br>654,340|622,002<br>572,214|
|Refundable<br>deposits<br>Accruals and deferred||income|413,194<br>222,297|356,550<br>107,797|
|Other creditors|||148,313|248,144|
||||2 ~18343|3281,946|



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|. CREDITORS: amounts<br>fa|lling due after more than one yea|r||
|---|---|---|---|
|||2021|2020|
|||6||
|Bank loan||1,075,669|1,252, 884|
|Fees received<br>in advance||409 073|469,073|
|||1544742|1721957|
|he bank loan is repayable|by instalments:|2021f|2020|
|Due after five years<br>Due within two to five years<br>Due within one to two years||366,809<br>531,645<br>177,215|544,024<br>531,645<br>177,215|
|||1 075669|1,252, 884|
|Due within one year||177,215|177,215|
|||1,252,884|1,430,099|





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|NCIAL<br>I|NSTRUMENTS||||||
|---|---|---|---|---|---|---|
||||||2021f|2020|
|Financial <br>Financial <br>Financial|assets measured<br> assets measured<br>liabilities measured|at amortised<br>at fair value<br>at amortised|cost<br>cost|(a)<br>(b)<br> (c)|286,695<br>1,629,308<br>3,669,804|450,936<br>1,279, 128<br>3,631,269|



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|||||||Transfers||
|---|---|---|---|---|---|---|---|
||||At|||and||
||||1 September<br>2020<br>F|Incoming<br>Resourcesf|Resources<br>Expended|gain/loss<br>on<br>investments<br>E|At 31 August<br>2021|
|Endowed<br>Endowed|Fund<br>Fund|—Permanent<br>—Expendable|1,845,977<br>208,330||||1,845,977<br>208 330|
||||2,054,307||||2,054 307|



|||||At|||Transfers||
|---|---|---|---|---|---|---|---|---|
||||1|September<br>2019<br>F|Incoming<br>Resources<br>F|Resources<br>Expended|and<br>gain/loss<br>on<br>investments<br>F|At 31<br>August<br>2020<br>8|
|Endowed<br>Endowed|Fund<br>Fund|—Permanent<br>—Expendable||1,845,977<br>208,330||||1,845,977<br>208,330|
|||||2,054,307||||2,054,307|





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||||At|||||
|---|---|---|---|---|---|---|---|
|||1|September<br>2019|Incoming<br>Resourcesf|Resources<br>Expendedf|Transfers<br>and<br>loss on<br>investmentsf|At 31<br>August<br>2020f|
|Prize fund<br>Bursary<br>fund<br>The Parents'<br>Committee<br>Hockey Festival<br>Mailer fund<br>Other funds|||135,147<br>135,678<br>45,640<br>15,432<br>5,916<br>59,191|90,590<br>24,153<br>240<br>2,653|(1,407)<br>(160)<br>(9,240)<br>4,412|(64,786)<br>(20,851)<br>13,935|133,740<br>161,322<br>39,702<br>15,432<br>6,156<br>43,497|
||||397,004|117,636|15,219|99,572|399,849|



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||||||At|||Transfers<br>and|At|
|---|---|---|---|---|---|---|---|---|---|
||||||1 September<br>2020|Incoming<br>Resources<br>f|Resources<br>Expended<br>f|gains on<br>investmentsf|31 August<br>2021f|
|General<br>Designated|Bursary||Fund||15,317,765<br>134,546|14,466,657|(14,014,872)|445,828|16,216,378<br>134,546|
||||||15,452,311|14,466 657|14,014872|445 828|16349924|
|he Designated||Bursary||Fund was a specific legacy||received<br>in 2013/14.||||
|Prior year:||||||||||
||||||At||||At|
||||||1 September<br>2019f|Incoming<br>Resources<br>f|Resources<br>Expended<br>f.|Transfers<br>F|31August<br>2020f|
|General<br>Designated|Bursary||Fund||14,985,250<br>134,546|14,604,745|(14,326,966)|54,736|15,317,765<br>134,546|
||||||15,119,796|14,604,745|14,326,966|54,736|15,452,311|





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|||||Total|
|---|---|---|---|---|
||Unrestricted|Restricted|Endowed|Funds|
||Funds|Funds<br>6|Funds<br>6|2020f|
|Income from:|||||
|Charitable<br>Activities<br>School fees<br>Other educational<br>income|12,964,688<br>401,566|||12,964,688<br>401,566|
|Other trading<br>activities<br>Other ancillary<br>trading<br>income<br>Non-ancillary<br>trading<br>income|573,217<br>654,380|||573,217<br>654,380|
|Investments<br>Investment<br>income|10,894|45,189||56,083|
|Voluntary<br>sources<br>Donations||72,446||72,446|
|Total incoming<br>resources|14,604,745|117,635||14,722,380|
|Expenditure<br>on:|||||
|Raising funds<br>Fundraising<br>costs<br>Financing<br>costs|117,341<br>28,725|||117,341<br>28,725|
|Total deductible costs|146,066|||146,066|
|Charitable<br>activities<br>Education<br>and grantmaking|14,180,900|15,218||14,196,118|
|Total expenditure|14,326,966|15,218||14,342,184|
|Net income from operations|277,779|102,417||380,196|
|Loss on investments||(44,836)||(44,836)|
|Transfers<br>between<br>funds|54,736|54 736|||
|Net Income for the year|332515|2,845||335,360|