2021-08-31-accounts

				Page
Reference and Administrative		Details ofthe Charity, its Governors	and Advisers	1-2
Chair's Statement
Governors' Report				4- 19
Governors' Responsibilities		Statement		20
Independent Auditors'	Report on the Financial Statements			21 - 24
Statement of Financial	Activities			25-26
Balance Sheet				27
Statement ofCash Flows				28
Notes to the Financial	Statements			29-54

Sport	Sport
The School		continues to provide pupils with a huge range of sporting opportunities.						Again, the Pandemic						cut short
both the actual			time at School and also the number of opportunities for			inter-school			competitions.				Inter-school
competitions		were swapped for inter-house matches and training			continued	unabated,				ensuring	that		pupils were
ready	as and when the restrictions are lifted. However, 2020/21 still provided					the following				highlights:
~	Cricket
		o	The year has seen phenomenal	growth in girls' cricket in both Prep				and		Senior	School
		c	2 U15 players and 1 U14 player	represented the	County
~	Rugby o		inter-House competitions were	held for all age groups		including			the 6e Form			Touch			Rugby
			tournament
		o	Jon Pendlebury, England U18 Coach, visited the		School and conducted					a live lesson
		o	An U6th former was selected in	the initial England	U18 squad and		subsequently				a L6th		player was
			added to the extended national	training squad
		o	7 players represented Newcastle Falcons U18
		o	3players are currently involved	with the Falcons'	U16 squad
~	Hockey
		o	The new Sports Graduate is a Welsh international		hockey	player
		o	An U16 player continues to be involved in the England Hockey Performance Pathway
		o	19players represent the County
~	Netball
		o	The continued partnership with	Leeds Rhinos Netball has enabled			pupils			to access extra				coaching
		o	A L6th girl was selected for Leeds Rhinos, as well		as representing		both		the North		East and				Durham
			County
~	Athletics
		c	A pupil continues to be selected	for GB training camps and		competes			at a national			level
~	Equestrian
		o	A pupil was invited to attend an	U20 GBtraining	camp.

					Unrestricted	Restricted	Endowment	Total	Total
					funds	funds	funds	funds	funds
					2021	2021	2021	2021	2020
				Note	6	6		8	6
Income and
endowments		from:
Donations and		legacies		3	114,838			114,838	115,493
Charitable activities:
School fees					10,341,461			10,341,461	9,743,036
Other income					60,087			60,087	24,809
Cost of providing
school buses					(111,090)			(111,090)	(18,719)
Remissions					(1,232,081)	(14,202)		(1,246,283)	(1,887,651)
Other trading	activities				85,040			85,040	2,369
Investments					1,544	12,815		14,359	12,770
Government	grants				34,552			34,552	487,482
Total					9,294,351	(1,387)		9,292,964	8,479,589
Expenditure	on:
Raising funds				8	85,751	3,969		89,720	4,029
Charitable activities:
Welfare					787,397			787,397	720,571
Premises					2,490,955			2,490,955	2,159,080
Teaching					5,543,638			5,543,638	5,408,564
Other charitable
activities					831,759	5,347		837,106	885,368
Total					9,739,500	9,316		9,748,816	9,177,612
Net expenditure
before net
gains/(losses)		on
investments					(445,149)	(10,703)		(455,852)	(698,023)
Net gains/(losses)			on
investments						101,243		101,243	(9,668)
Net income/
(expenditure)					(445,149)	90,540		(354,609)	(707,691)
Transfers between
funds				23	14,202	(14,202)
Net movement		in
funds before		other
recognised
gains/(losses)					(430,947)	76,338		(354,609)	(707,691)

			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	funds
		Note	2021 6	2021 6	2021 6	2021 6	2020f
Actuarial gains/(losses)
on defined benefit
pension scheme		28	960,000			960,000	(280,000)
Net movement	in
funds			529,053	76,338		605,391	(987,691)
Reconciliation	of
funds:
Total funds brought
forward			7,271,988	668,620	45,875	7,986,483	8,974,174
Net movement	in funds		529,053	76,338		605,391	(987,691)
Total funds carried
forward			7,801,041	744,958	45,875	8,591,874	7,986,483

				Note		2021f		2020f
Fixed assets
Intangible assets				13		7,957		690
Tangible assets				14		10,262,525		10,306,653
Investments				15		638,493		530,786
						10,908,975		10,838,129
Current assets
Stocks				16	70,268		81,385
Debtors				17	586,357		532,612
Cash at bank and in hand					1,819,912		1,031,353
					2,476,537		1,645,350
Creditors: amounts	falling		due within one
year				18	(2,420,361)		(2,832,223)
Net current assets Iliabilites						56,176		(1,186,873)
Total assets less current			liabilities			10,965,151		9,651,256
Creditors: amounts than one year	falling		due after more	19		(2,373,277)		(724,773)
Net assets excluding liability		pension asset I				8,591,874		8,926,483
Defined benefit pension scheme asset I liability				28				(940,000)
Total net assets						8,591,874		7,986,483
Charity funds
Endowment funds				23		45,875		45,875
Restricted funds				23		744,958		668,620
Unrestricted funds				23		7,801,041		7,271,988
Total funds						8,591,874		7,986,483

	FOR	TH	E YEAR ENDED 31AUGUS	T 2021
				Note	2021f	2020f
Cash flows from operating activities
Net cash used in operating	activities			25	(165,383)	1,142,047
Cash flows from investing	activities
Proceeds from the disposal	oftangible fixed assets				621
Purchase of intangible assets					(8,800)
Purchase oftangible fixed assets					(741,968)	(640,852)
Proceeds from sale of investments					98,473	51,134
Purchase of investments					(104,937)	(52,694)
Dividend income					12,815	5,828
Interest received					1,544	6,942
Net cash used in investing	activities				(742,252)	(629,642)
Cash flows from financing	activities
Cash inflows from new borrowing					1,850,000
Loan repayments in year					(49,226)	(49,381)
Capital repayments in year					(104,580)	(52,622)
Net cash provided by/(used in) financing			activities		1,696,194	(102,003)
Change in cash and cash	equivalents	in the year			788,559	410,402
Cash and cash equivalents	at the beginning		ofthe year		1,031,353	620,951
Cash and cash equivalents	at the end	ofthe year		26	1,819,912	1,031,353
The notes on pages 29to 54 form part of these financial statements

		Unrestricted	Total	Total
		funds	funds	funds
		2021	2021	2020
		6	6	6
	Donations	91,948	91,948	109,993
	Legacies	22,890	22,890	5,500
	Total 2021	114,838	114,838	115,493
	Total 2020	115,493	115,493
4.	Income from other trading activities

			Unrestricted	Total	Total
			funds	funds	funds
			2021f	2021f	2020 6
	Lettings and	event income	85,040	85,040	2,369
	Total 2021		85,040	85,040	2,369
	Total 2020		2,369	2,369
5.	Investment	income

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2021 6	2021f	2021	2020f
Investment	income from listed investments		12,815	12,815	5,828
Deposit account interest		1,544		1,544	6,942
Total 2021		1,544	12,815	14,359	12,770
Total 2020		6,942	5,828	12,770

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2021 6	2021f	2021f	2020 8
School fees		10,341,461		10,341,461	9,743,036
Other Income		60,087		60,087	24,809
Cost of providing	school buses	(111,090)		(111,090)	(18,719)
Remissions		(1,232,081)	(14,202)	(1,246,283)	(1,887,651)
		9,058,377	(14,202)	9,044,175	7,861,475
Total2020		7,874,493	(13,018)	7,861,475

		Unrestricted	Total	Total
		funds	funds	funds
		2021 6	2021f	2020f
Coronavirus	Job Retention Scheme grants	34,552	34,552	487,482
Total 2020		487,482	487,482

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2021 6	2021	2021	2020f
Lettings and	event costs		85,751		85,751	530
Investment	management	fees		3,969	3,969	3,499
			85,751	3,969	89,720	4,029
Total 2020			530	3,499	4,029

	Direct	Support	Total	Total
	costs	costs	funds	funds
	2021f	2021f	2021f	2020 9
Teaching	5,459,776	83,862	5,543,638	5,408,564
Premises	1,703,947	787,008	2,490,955	2,159,080
Welfare	787,397		787,397	720,571
Other	785,377	51,729	837,106	885,368
	8,736,497	922,599	9,659,096	9,173,583
Total 2020	8,300,241	873,342	9,173,583

						Total	Total
		Teaching	Premises	Welfare	Other	funds	funds
		2021 f	2021 f	2021f	2021f	2021f	2020 f.
Pension finance
costs					10,000	10,000	10,000
Staff costs		5,119,283	750,335	470,404	497,108	6,837,130	6,629,506
Teaching
resources		143,096				143,096	177,540
Premises	and
grounds			88,469			88,469	67,808
Rates			68,644			68,644	67,264
Insurance		17,320	76,046			93,366	89,026
Light, heat	and
water			226,086			226,086	227,748
Other teaching
costs		148,892				148,892	132,281
Travel		31,185		50		31,235	73,065
Catering				306,036		306,036	249,019
Laundry				2,018		2,018	7,430
Nursing				8,889		8,889	7,861
Cleaning			194,762			194,762	78,539
Maintenance			299,605			299,605	199,791
Marketing	and
development					73,430	73,430	78,306
ITcosts					86,176	86,176	83,750
Administration					78,278	78,278	81,464
Recruitment					18,284	18,284	14,867
Bad debts					22,101	22,101	24,976
		5,459,776	1,703,947	787,397	785,377	8,736,497	8,300,241
Total 2020		5,339,017	1,415,158	720,571	825,495	8,300,241

						Total	Total
			Governance	Premises	Finance	funds	funds
			2021 6	2021f	2021f	2021f	2020
Depreciation	and amortisation			741,840		741,840	711,932
Loss/(profit)	on disposal	of
assets				45,168		45,168	31,990
Bank charges					12,966	12,966	25,679
Bank interest					7,672	7,672	7,323
Leasing interest					23,851	23,851	26,871
Interest paid	to HMRC				7,240	7,240
Governance	costs		83,862			83,862	69,547
			83,862	787,008	51,729	922,599	873,342
Total 2020			69,547	743,922	59,873	873,342

		2021f	2020f
Auditors'	remuneration	11,000	10,500
Depreciation -owned assets		690,641	658,441
Depreciation - assets on finance lease		49,666	49,666
Deficit on	disposal offixed assets	45,168	31,990
Computer	software amortisation	1,533	3,825
Operating	lease payments	75,923	76,412

FOR THE YEAR END Staff costs	ED 31AUGUST 2021
	2021	2020
		6
Wages and salaries	5,295,948	5,142,832
Social security costs	503,888	477,401
Other pension costs	1,037,294	1,009,273
	6,837,130	6,629,506

	2021	2020
	No.	No.
Teaching	108	117
Support	17	18
Welfare	29	28
Premises	37	37
	191	200

2021	2020
No.	No.

	Computer
	software
	6
Cost
At 1 September 2020	35,334
Additions	8,800
At 31August 2021
Amortisation
At 1 September 2020	34,644
Charge for the year	1,533
At 31August 2021	36,177
Net book value
At 31 August 2021	7,957
At 31 August 2020	690

	Freehold	Plant and	Fixtures and	Motor	Computer
	property f	machinery 6	fittings f	vehiclesf	equipment 6	Total
Cost or valuation
At 1 September 2020	14,119,100	1,015,714	2,178,940	18,621	757,799	18,090,174
Additions	580,671		112,832		48,465	741,968
Disposals	(488,359)		(435,731)			(924,090)
At 31 August 2021	14,211,412	1,015,714	1,856,041	18,621	806,264	17,908,052
Depreciation
At 1 September 2020	5,650,778	183,658	1,705,397	7,401	236,287	7,783,521
Charge for the year	414,704	50,786	119,888	4,655	150,274	740,307
On disposals	(442,570)		(435,731)			(878,301)
At 31 August 2021	5,622,912	234,444	1,389,554	12,056	386,561	7,645,527
Net book value
At 31 August 2021	8,588,500	781,270	466,487	6,565	419,703	l0,262,525
At 31 August 2020	8,468,322	832,056	473,543	11,220	521,512	10,306,653

		Plant and	Plant and
		machinery	machinery
		2021f	2020
	Cost
	At 1 September	993,321	993,321
	Additions
		993,321	993,321
	Depreciation
	At 1 September	181,960	132,294
	Charge for year	49,666	49,666
		231,626	181,960
	Net book value
	At 31August	761,695	811,361
15.	Fixed asset investments
			Listed
			investmentsf
	Cost or valuation
	At 1 September 2020		530,786
	Additions		104,937
	Disposals		(98,473)
	Revaluations		101,243
	At 31 August 2021		638,493
	Net book value
	At 31August 2021		638,493
	At 31 August 2020		530,786

					NOTES TO THE FINANCIAL STATEMENTS	NOTES TO THE FINANCIAL STATEMENTS
					FOR	THE YEAR ENDED 31AUGUST 2021
16.	Stocks
							2021 6	2020f
	Stocks						70,268	81,385
17.	Debtors
							2021f	2020f
	Due within one year
	Trade debtors						148,530	170,732
	Other debtors						58	1,613
	Prepayments	and accrued			income		437,769	360,267
							586,357	532,612
18.	Creditors: Amounts			falling due		within one year
							2021	2020
								6
	Bank loans and overdrafts				(see note 19)		114,036	49,124
	Trade creditors						455,355	715,327
	Other taxation	and social security					248,066	594,584
	Finance lease	(see	note 20)				122,829	100,983
	Other creditors						151,772	227,669
	Accruals and	deferred		income			1,328,303	1,144,536
							2,420,361	2,832,223
							2021	2020
	Deferred income
	Deferred income at		1	September		2020	1,075,026	1,313,752
	Resources deferred		during		the year		1,282,439	1,075,026
	Amounts released from previous					periods	(1,075,026)	(1,313,752)
							1,282,439	1,075,026

			2021f	2020f
	Bank loans (see note 20)		1,895,931	160,069
	Finance lease (see note 21)		243,663	370,089
	Other creditors		233,683	194,615
			2,373,277	724,773
20.	Loans
	An analysis ofthe maturity of	loans is given below:
			2021f	2020 8
	Amounts falling due within one year on demand:
	Loans		114,036	49,124
	Amounts falling between one	and two years:
	Loans - 1-2years		146,492	49,124
	Amounts falling due between	two and five years:
	Loans - 2-5years		353,824	110,945
	Amounts falling due in more than five years:
	Repayable by instalments:
	Loans more 5years		1,395,615

Leasing agreeme	nts
		Finance
		lease
		2020 6	2020f
Net obligations	repayable:
Within one year		122,829	100,983
Between one and	five years	243,663	370,089
In more than five	years
		366,492	471,072

	2021	2020
	f	f
Within one year	88,071	57,097
Between one and five years	107,028	67,581
	195,099	124,678

The following secured debts are included within	creditors:
	2021	2020f
Bank loans	2,009,967	209,193
Finance leases	366,492	471,072
	2,376,459	680,265

	Balance at	1						Balance at
	September 2020 6		Income 6	Expenditure 5	Transfers in/out 8	Gains/ (Losses) 6		31 August 2021
Unrestricted
funds
Revenue
reserve	6,671,988		9,294,351	(9,739,500)	14,202	960,000		7,201,041
Designated
Funds	600,000							600,000
	7,271,988		9,294,351	(9,739,500)	14,202	960,000		7,801,041
Endowment
funds
Foundation
endowment	45,875							45,875
Restricted
funds
Barnard Castle
School Prize &
Scholarship
Fund	479,328		(1,387)	(3,969)		101,243		575,215
Hearnshaw
Legacy	99,986				(14,202)			85,784
Science Centre
Donation	89,306			(5,347)				83,959
	668,620		(1,387)	(9,316)	(14,202)	101,243		744,958
Total offunds	7,986,483		9,292,964	(9,748,816)		1,061,243		8,591,874

Statement offun	ds	- prior year
		Balance at					Balance at
	1	September			Transfers	Gains/	31 August
		2019	Income	Expenditure	in/out	(Losses)	2020
		6	6	6	8	f.	6
Unrestricted
funds
Revenue
reserve		7,320,957	8,486,779	(9,168,766)	313,018	(280,000)	6,671,988
Designated
Funds		900,000			(300,000)		600,000
		8,220,957	8,486,779	(9,168,766)	13,018	(280,000)	7,271,988
Endowment
funds
Foundation
endowment		45,875					45,875
Restricted
funds
Barnard Castle
School Prize &
Scholarship
Fund		499,685	(7,190)	(3,499)		(9,668)	479,328
Heamshaw
Legacy		113,004			(13,018)		99,986
Science Centre
Donation		94,653		(5,347)			89,306
		707,342	(7,190)	(8,846)	(13,018)	(9,668)	668,620
Total offunds		8,974,174	8,479,589	(9,177,612)		(289,668)	7,986,483

Analysis	of n	et assets between funds -	current year
			Unrestricted	Restdicted	Endowment	Total
			funds	funds	funds	funds
			2021f	2021 6	2021 6	2021
Tangible	fixed	assets	10,137,603	79,047	45,875	10,262,525
Intangible	fixed assets		7,957			7,957
Fixed asset investments				638,493		638,493
Current assets			2,449,119	27,418		2,476,537
Creditors	due	within one year	(2,420,361)			(2,420,361)
Creditors	due	in more than one year	(2,373,277)			(2,373,277)
Total			7,801,041	744,958	45,875	8,591,874

	Analysis ofnet assets	between	f	unds - prio	r	year
						Unrestricted	Restricted	Endowment	Total
						funds	funds	funds	funds
						2020 6	2020f	2020f	2020f
	Tangible fixed assets					10,176,384	84,394	45,875	10,306,653
	Intangible fixed assets					690			690
	Fixed asset investments						530,786		530,786
	Current assets					1,591,910	53,440		1,645,350
	Creditors due within one year					(2,832,223)			(2,832,223)
	Creditors due in more than one		year			(724,773)			(724,773)
	Provisions for liabilities	and charges				(940,000)			(940,000)
	Total					7,271,988	668,620	45,875	7,986,483
25.	Reconciliation of net	movement		in funds to		net cash flow	from operating	activities
								2021f	2020 6
	Net expenditure for the	year (as	per Statement			of Financial Activities)		(354,609)	(707,691)
	Adjustments for:
	Depreciation charges							740,307	708,107
	Amoitisation charges							1,533	3,825
	Gains/(losses) on investments							(101,243)	9,668
	Dividends, interests and rents from			investments				(1,544)	(6,942)
	Loss on the sale offixed assets							45,168	31,990
	Decrease/(increase) in	stocks						11,117	(12,437)
	Decrease/(increase) in	debtors						(53,745)	844,349
	Increase/(decrease) in	creditors						(459,552)	337,006
	Dividend income							(12,815)	(5,828)
	Pension Liability Adjustment							20,000	(60,000)
	Net cash (used in) / provided		by	operating	activities			(165,383)	1,142,047

		2021	2020
			6
Cash	in hand	1,819,912	1,031,353
Total	cash and cash equivalents	1,819,912	1,031,353

			At 1
			September		At 31August
			2020	Cash flows	2021
			f	6
Cash at bank and		in hand	1,031,353	788,559	1,819,912
Debt due within	1	year	(49,124)	(64,912)	(114,036)
Debt due alter 1 year			(160,069)	(1,735,862)	(1,895,931)
Finance leases			(471,072)	104,580	(366,492)
			351,088	(907,635)	(556,547)

Principal actuarial	assumptions	at the Balance Sheet da	te (expressed as weighted averages	):
			At 31 August	At 31August
			2021	2020
			O/0	0/0
Discount rate			1.7	1.6
Future salary increases			3.7	3.4
Future pension increases			2.7	2.4
CPI inflation			2.7	2.4
Pension accounts	revaluation	rate	2.7	2.4

	At 31 August	At 31August
	2021	2020
	Years	Years
Mortality rates (in years)
-for a male aged 65 now	22.3	22.2
- at 65for a male aged 45 now	23.3	23.2
-for a female aged 65 now	24.3	24.2
-at 65for a female aged 45 now	25.8	25.7

The Charity's	share ofthe assets in the scheme was	:
		At 31 August	At 31August
		2021	2020
		6	6
Equities		5,830,000	4,290,000
Property		640,000	620,000
Government	bonds	1,590,000	2,070,000
Corporate bonds		1,780,000	1,270,000
Cash		450,000	420,000
Total fair value ofassets		10,290,000	8,670,000

			2021f	2020 F
Current service cost			170,000	170,000
Interest income			(140,000)	(150,000)
Interest cost			150,000	160,000
Total amount recognised	in the Statement	of Financial Activities	180,000	180,000

Moveme	nts in th	e presen	t value ofthe defined benefit obli	gation were as follows:
				2021	2020
				6	6
Opening	defined	benefit	obligation	9,610,000	9,200,000
Interest	cost			150,000	160,000
Contributions by		scheme	participants	20,000	20,000
Actuarial	losses			250,000	280,000
Benefits	paid			(280,000)	(220,000)
Current	service	cost		170,000	170,000
Closing	defined	benefit	obligation	9,920,000	9,610,000

				2021f	2020
Opening	fair	value ofscheme assets		8,670,000	8,480,000
Expected	return		on assets	140,000	150,000
Actuarial	gains			1,210,000
Contributions		by	employer	160,000	240,000
Contributions		by	scheme participants	20,000	20,000
Benefits	paid			(280,000)	(220,000)
Closing	fair	value ofscheme assets		9,920,000	8,670,000