2020-08-31-accounts

	Page
Governors, Officers and Advisers	3-4
Governors’ Report(including Strategic Report)	5-21
Statement of Governors’ Responsibilities	22
Report of the Independent Auditor to the Governors	23-25
Consolidated Statement of Financial Activities	26
Consolidated and School Balance Sheets	27
Consolidated Statement of Cash Flows	28
Statement of Accounting Polices	29-32
Notes to the Financial Statements	33-53

Total energy usage from electricity consumption in 19/20:	967,084 kwh
Total energy usage from gas consumption in 19/20:	3,169,129 kwh
Total emissions through use of purchasedelectricity:	339,988 KgCO2e
Total emissions through combustionof gas:	583,627 KgCO2e
Total emissions from diesel consumption on transport fleet	80,765 KgCO2e
Total Gross emission	1,004,380 KgCO2e
Intensity ratio (KgCO2e per pupil)	1,253.91

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF

WELLINGTON SCHOOL 1837

FOR THE YEAR ENDED 31 AUGUST 2020

Auditor's responsibilities for the audit of the financial statements

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

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

Use of our report

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

Tara Westcott Senior Statutory Auditor For and on behalf of

Crowe U.K. LLP Statutory Auditor Carrick House Lypiatt Road Cheltenham Gloucestershire GL502QJ

Date: 16 March 2021

25

	Notes	Notes	Unrestricted	Funds	Restricted	Total Funds	Total Funds
					Funds
			Revenue	Revaluation		2020	2019
			£	£	£	&	£
INCOME
Charitableactivities
Schoolfees Other educational income Ancillary trading Othertrading activities Investment income		NNN NR	10,871,395 198,442 716,509 105,720 6,161	. - . - -	- - . - 16,629	10,871,395 198,442 716,509 105,720 22,790	10,480,679 435,863 1,217,238 198,236 39,551
Donations andlegacies		n	37,319	-	126,854	164,173	116,120
Other income		2	546,958	-	5,089	552,047
Total income			12,482,504	:	148,572	12,631,076	12,487,687
EXPENDITURE
Raising funds			512,420	.	1,471	513,891	722,231
Charitable activities			12,467,363	.	48,040	12,515,403	13,456,922
Total expenditure		4	12,979,783	:	49,511	13,029,294	14,179,153
Net (expenditure)/income before
investment losses			(497,279)	-	99,061	(398,218)	(1,691,466)
Netlosses on investments			-	:	(74,025)	(74,025)	(18,938)
NET (EXPENDITURE)/
INCOME			(497,279)	-	25,036	(472,243)	(1,710,404)
		13a
Transfers		13b	761,699	(144,000)	(617,699)	-
NET MOVEMENTIN FUNDS			264,420	(144,000)	(592,663)	(472,243)	(1,710,404)
Funds Balances Carried Forward	at	1
September 2019		13	2,476,619	15,910,374	3,231,161	21,618,154	23,328,558
Fund Balances Carried
Forward at 31 August 2020		13	2,741,039	15,766,374	2,638,498	21,145,911	21,618,154

		Group		Charity
	Notes	2020	2019	2020	2019
		&	£	&	£
FIXED ASSETS:
Intangible assets	5	26,639	37,866	26,639	37,866
Tangible assets	6	28,464,763	29,100,430	25,525,358	26,069,519
Investments	7	:	926,704	:	-
		28,491,402	30,065,000	25,551,997	26,107,385
CURRENTASSETS:
Stock		10,146	6,273	10,146	6,273
Debtors	8	476,274	561,505	453,119	577,149
Cash at bank and in hand	20	349,958	93,013	274,081	32,051
		836,378	660,791	737,346	615,473
LIABILITIES:
Creditors: due within one year	9	(5,414,822)	(5,659,364)	(5,383,242)	(5,621,306)
NET CURRENT
LIABILITIES		(4,578,444)	(4,998,573)	(4,645,896)	(5,005,833)
TOTAL ASSETS LESS
CURRENTLIABILITIES		23,912,958	25,066,427	20,906,101	21,101,552
Creditors: due after one year	10	(2,767,047)	(3,448,273)	(2,915,588)	(3,381,029)
TOTAL NET ASSETS		21,145,911	21,618,154	17,990,513	17,720,523
RESTRICTED FUNDS	13a	2,638,498	3,231,161	103,366	1,268
UNRESTRICTED FUNDS	13b
Revenuereserves		2,741,039	2,476,619	1,926,937	1,615,045
Revaluation reserve		15,766,374	15,910,374	15,960,210	16,104,210
TOTAL FUNDS		21,145,911	21,618,154	17,990,513	17,720,523

	Note	2020	2019
Cash flows from operating activities:
Netcash provided by operating activities	19	397,625	189,996
Cash flows from investing activities
Purchaseof tangible fixed assets		(290,059)	(607,009)
Investment managementfees		(2,179)	1,515
Proceeds from sale of investments		809,213
Investment incomereceipts		22,790	39,551
Movementin cash held with investment managers			33,954
Net cash provided by/(used by) investing activities		539,765	(531,989)
Cashflows from financing activities
New bankloans			1,510,000
Repaymentofloan		(206,503)	(673,809)
Receipts from new advance fee contracts		270,613	712,671
Advancefees repaid		(69,401)
Advancefeesutilised		(658,891)	(587,943)
Interest paid		(105,314)	(101,271)
Net cash (used by)/provided byfinancing activities		(769,496)	859,648
Change in cash and cash equivalents in the year		167,894	517,655
Cash and cash equivalents at the beginning ofthe year	19	(1,205,448)	(1,723,103)
Cash and cash equivalents at the end ofthe year	20	(1,037,554)	(1.205.448)

Permanentfreehold buildings	10-50 years
Motorvehicles	5 years
Furniture and equipment	5-15 years
Computer equipment	3-5 years

1 FEES
	2020	2019
Fees receivable consistof:	£	£
Fees: Day	6,566,049	6,325,058
Boarding Prep School	4,621,502 1,711,868	4,143,877 1,862,984
	12,899,419	12,331,919
Less: Scholarships and fee remissions	(2,028,024)	(1,851,240)
	10,871,395	10,480,679
All scholarships and fee remissions are granted to students of the school. No support costs are allocated to thi activity.
2 OTHER INCOME
	2020	2019
	é	£
Other educational income
Courses and sub-lettings	3,954	214,826
Music Lessons Extra English tuition	147,798 46,690	190,480 30,557
	198,442	435,863
Ancillary trading
Schooltrips	72,128	298,500
School meals	207,142	302,540
Transport charges	135,734	203,939
Otherpupil charges	168,903	135,168
Entranceand registration fees	34,502	33,166
Feesin lieu	27,938	54,806
Otherancillary income	70,162	189,119
	716,509	1,217,238
Other tradingactivities
Wellington School Somerset Trading Company	71,768	145,366
Cafe 37	33,952	52,870
	105,720	198,236
Investment income
Rents receivable	2,500	3,000
Listed investments (all within the UK)	16,629	36,540
Bankandother interest	3,661	11
	22,790	39,551

			2020	2019
			£	£
	Donations andlegacies
	Donations		164,173	116,120
			LOA	dG
	Other income
	CJRS Government Grant		546,958	-
	CCFGrants		5,089	-
			§52,047	-
3	EXPENDITURE
	Net expenditureis stated after charging:		2020	2019
			£	£
	Depreciation		925,726	913,416
	Amortisation		11,227	11,231
	Auditors’ remuneration:
	Audit of the charity		19,694	17,095
	Audit of the subsidiaries		5,896	6,325
	Tax services		3,200	4,100
	Assuranceservices	;	995	875
	Operating lease charges		318,356	282,025
	Interest on bank loans		105,314	101,273
			2020	2019
	Totalstaff costs:		£	£
	Wagesandsalaries		6,547,314	6,779,149
	Social security costs		573,562	576,431
	Pension contributions		929,914	784,605
			8,050,790	8,140,185

	2020	2019
	No.	No
£60,000 - £70,000	5	2
£70,001 - £80,000	1	1
£80,001 - £90,000	1	1
£120,001 - £130,000	1	1
The numberwith retirement benefits accruing were:
Defined benefit pension schemes	7	4
Defined contribution pension schemes	1	1
Contributions to defined contribution pension schemes	£10,908	£11,900

				Total	Total
			Depreciation
			and
	Staff Costs	Other	amortisation	2020	2019
	&	£	&	&	£
Raising funds
Financing costs	:	167,528	:	167,528	337,719
Total for Charity	-	167,528	.	167,528	337,719
Trading costs of subsidiary	97,886	150,884	96,122	344,892	382,103
Investment management	-	1,471	-	1,471	2,409
Total for Group	97,886	319,883	96,122	513,891	722,231
Charitable activities
Teaching costs	5,843,271	983,970	7,558	6,834,799	7,467,004
Welfare	400,353	803,022	19,949	1,223,324	1,578,656
Premises	706,548	786,722	602,715	2,095,985	2,484,320
Supportcosts of schooling	991,246	1,119,044	210,609	2,320,899	1,908,123
Total for Charity	7,941,418	3,692,758	840,831	12,475,007	13,438,103
Support costs of Foundation	11,486	28,910	:	40,396	18,819
Total for Group	7,952,904	3,721,668	840,831	12,515,403	13,456,922
TOTAL EXPENDITURE
Charity	7,941,418	3,860,286	840,831	12,642,534	13,775,822
Group	8,050,790	4,041,551	936,953	13,029,294	14,179,153

Group and Charity	Total
	£
Cost
1 September 2019	115,500
31 August 2020	115,500
Amortisation
1 September 2019	77,634
Charge for the year	11,227
31 August 2020	88,861
Net Book Values
31 August 2020	26,639
31 August 2019	37,866

Group	Freehold	Assets in	Furniture
	Land and	the course of	and	Motor
Cost	Buildings &	construction £	Equipment &	Vehicles £	Total £
1 September 2019	31,049,211	59,216	2,845,932	75,697	34,030,056
Additions	-	36,542	202,008	51,509	290,059
Transfers	-	(95,758)	95,758	-	-
Disposals	-	:	(36,919)	(7,990)	(44,909)
31 August 2020	31,049,211	-	3,106,779	119,216	34,275,206
Depreciation
1 September 2019	3,560,280	-	1,311,731	57,615	4,929,626
Charge for the year	545,851	-	359,547	20,328	925,726
Disposals	”	:	(36,919)	(7,990)	(44,909)
31 August 2020	4,106,131	:	1,634,359	69,953	5,810,443
Net Book Values
31 August 2020	26,943,080	-	1,472,420	49,263	28,464,763
31 August 2019	27,488,931	59,216	1,534,201	18,082	29,100,430

Charity	Freehold	Assets in	Furniture
	Land and	the course of	and	Motor
	Buildings	construction	Equipment	Vehicles	Total
	£	£	£	£	&
Cost
1 September 2019	27,741,920	59,216	2,627,324	71,702	30,500,162
Additions	-	36,542	197,391	51,509	285,442
Transfer	-	(95,758)	95,758	-	-
Disposals	:	-	(36,919)	(3,995)	(40,914)
31 August 2020	27,741,920	-	2,883,554	119,216	30,744,690
Depreciation
1 September 2019	3,192,655	-	1,184,367	53,621	4,430,643
Charge for the year	479,705	-	329,570	20,328	829,603
Disposals	-	-	(36,919)	(3,995)	(40,914)
31 August 2020	3,672,360	:	1,477,018	69,954	5,219,332
Net Book Values
31 August 2020	24,069,560	:	1,406,536	49,262	25,525,358
31 August 2019	24,549,265	59,216	1,442,957	18,081	26,069,519

INVESTMENTS
	Total	Total
	2020	2019
Group	£	£
Market Value at 1 September	926,704	947,157
Disposal proceeds	(809,213)	-
Transfer out of cash	(41,287)	-
Managementfees	(2,179)	(1,515)
Decrease in market value	(74,025)	(18,938)
Market Value at 31 August	:	926,704
Listed on Stock Exchange	-	883,238
Cash held for reinvestment	-	43,466
	:	926,704

8		DEBTORS
			Group		Charity
			2020	2019	2020	2019
			£	£	£	£
	Fees		150,869	95,543	150,869	95,543
	Extras		10,242	224,782	10,241	224,782
	Prepayments		211,010	150,747	196,990	150,747
	Sundry	debtors	104,153	90,433	95,019	61,264
	Amounts owed by group undertakings		-	:	:	44,813
			476,274	561,505	453,119	577,149

	Group		Charity
	2020	2019	2020	2019
	&	£	£	£
Bank overdraft	1,387,512	1,341,927	1,387,512	1,341,927
Bank Joans (see note 10)	209,423	206,503	209,423	206,503
Fees received in advance for
Autumn term	1,911,714	2,001,223	1,911,714	2,001,223
Trade creditors	213,242	391,894	206,779	386,897
Accruals & Other Creditors	573,684	644,555	538,076	611,495
Student Deposits	430,577	328,985	430,577	328,984
Taxation andsocial security	150,699	154,925	150,699	154,925
Amounts owed to group
undertakings	.	-	10,491	-
	4,876,851	5,070,012	4,845,271	5,031,954
Advancefees (see note 11)	537,971	589,352	537,971	589,352
	5,414,822	5,659,364	5,383,242	5,621,306

	Group		Charity
	2020	2019	2020	2019
	£	£	&	£
Bankloans(see note 10)	1,605,732	1,815,155	1,605,732	1,815,155
Advancefees (see note 11)	902,227	1,251,364	902,227	1,251,364
Other Creditors	259,088	381,754	217,629	314,510
Other loans	.	-	190,000	-
	2,767,047	3,448,273	2,915,588	3,381,029

Group and School	2020	2019
	&	£
Within 1 year	209,423	206,503
Within 1 to 2 years	213,348	209,423
Within 2 to 5 years	451,097	570,419
After 5 years	941,287	1,035,313
	1,815,155	2,021,658

Group and School	2020	2019
	£	£
Within 1 year	537,971	589,352
Within 1 to 2 years	391,617	475,185
Within 2 to 5 years	478,705	672,237
After 5 years	31,905	103,942
	1,440,198	1,840,716
The advance fees balance represents the accrued liability under the	contracts. The capital	movements durin
year were:
Groupand School	2020	2019
	£	£
At | September	1,840,716	1,589,811
New contracts	270,613	712,670
Amountsutilised in paymentof fees to the School	(658,891)	(587,943)
Discounts applied	57,161	126,178
Amounts refunded	(69,401)	-
At31 August	1,440,198	1,840,716
12 SECURED DEBTS

			2020	2019
			£	£
Bankloans	and	overdrafts	3,202,667	3,363,585

henetassets are held for th	e various funds and advan	ce fees as follows:
2020
	Fixed	Net Current	Long Term		Total
Group	Assets £	Liabilities £	Liabilities &		2020 £&
Restricted Funds	2,795,000	(156,502)	-		2,638,498
Unrestricted Funds	25,696,402	(4,421,942)	(2,767,047)		18,507,413
	28,491,402	(4,578,444)	(2,767,047)		21,145,911
Charity	£	£	é		&
Restricted funds	-	103,366	-		103,366
Unrestricted funds	25,551,997	(4,749,262)	(2,915,588)		17,887,147
	25,551,997	(4,645,896)	(2,915,588)	*	17,990,513
2019
	Fixed	Net Current	Long Term		Total
Group Restricted Funds Unrestricted Funds	Assets & 3,276,704 26,788,296	Liabilities & (45,543) (4,953,030)	Liabilities & - (3,448,273)		2019 £ 3,231,161 18,386,993
	30,065,000	(4,998,573)	(3,448,273)		21,618,154
Charity Restricted funds Unrestricted funds	£ - 26,107,385	£ 1,268 (5,007,101)	é - (3,381,029)		é 1,268 17,719,255
	26,107,385	(5,005,833)	(3,381,029)		17,720,523

	Balance					Balance
	1 September			Investment		31 August
	2019	Income	Expenditure	Gains	Transfers	2020
	£	£	£	£	£	&
Passmore Memorial Fund	1,268	.	-	”	-	1,268
Hardship Fund	-	104,651	(3,841)	-	-	100,810
Wellington School 1837	-	8,905	(3,802)	-	(3,815)	1,288
The Wellington School
Foundation	3,229,893	35,016	(41,868)	(74,025)	(613,884)	2,535,132
	3,231,161	148,572	(49,511)	(74,025)	(617,699)	2,638,498

		Balance					Balance
	1	September			Investment		31 August
		2018	Income	Expenditure	Gains	Transfers	2019
		£	£	£	£	£	&
Prize fund:
Passmore Memorial Fund		1,268	-	-	-	-	1,268
Wellington School 1837		-	71,704	(2,500)	-	(69,204)	-
The Wellington School
Foundation		3,206,723	80,957	(21,228)	(18,938)	(417,621)	3,229,893
		3,207,991	152,661	(23,728)	(18,938)	(86,825)	3,231,161

	Balance				Balance
	I September				31 August
	2019	Income	Expenditure	Transfers	2020
Group	£	£	£	£	£
Revenue reserve	2,398,545	12,410,736	(12,701,035)	536,045	2,644,291
Revaluation reserve	15,910,374	-	-	(144,000)	15,766,374
Foundation subsidiary	42,959	-	-	-	42,959
Trading subsidiary	35,115	71,768	(278,748)	225,654	53,789
	18,386,993	12,482,504	(12,979,783)	617,699	18,507,413
Charity
Revenue reserve	1,615,044	13,190,688	(13,026,610)	147,815	1,926,937
Revaluation reserve	16,104,210	“	-__	(144,000)	15,960,210
	17,719,254	13,190,688	(13,026,610)	3,815	17,887,147

	Balance				Balance
	1 September	Income			1 August
	2018	Asrestated	Expenditure	Transfers	2019
Group	£	&	£	£	&
Revenuereserve	3,893,779	12,189,660	(13,839,468)	155,880	2,398,545
Revaluation reserve	16,054,374	-	-	(144,000)	15,910,374
Foundation subsidiary	42,959	-	-	-	42,959
Trading subsidiary	129,455	145,366	(315,957)	76,245	35,115
	20,120,567	12,335,026	(14,155,425)	86,825	18,386,993
Charity
Revenue reserve	3,044,126	12,361,890	(14,092,769)	301,797	1,615,044
Revaluation reserve	16,248,210	-	-	(144,000)	16,104,210
	19,292,335	12,361,890	(14,092,769)	157,797	17,719,254

					Group		Charity
					2020	2019	2020	2019
					&	£	é	£
Financial	assets	measuredat	fair	value	-	926,704	-	-

	Group		Charity
	2020	2019	2020	2019
	&	£	£	£
Within 1 year	318,356	272,505	252,513	231,963
Between 1 to 5 years	331,143	442,596	286,226	400,427
After 5 years	24,102	47,280	24,102	47,280

	Group		Charity
	2020	2019	2020	2019
	é	£	£	£
Within 1 year	162,610	209,937	136,822	184,695
Between 1 to 5 years	259,086	381,755	217,630	134,511

Balance Sheet	2020	2019
Fixed assets Currentassets Currentliabilities Longterm liabilities	& 65,884 66,221 (36,860) (41,456)	£ 91,245 71,333 (60,219) (67,244)
	53,789	35,115
Called up share capital Reserves	6 $3,783	6 35,109
	53,789	35,115
Profit and Loss Account	2020	2019
	£	£
Turnover Direct costs and administrative expenses	316,867 (298,193)	340,071 (340,321)
	18,674	(250)

Balance Sheet	2020	2019
	£	£
Fixed asset investments Currentassets Currentliabilities	2,678,000 233,302 (5,210)	3,531,704 16,491 (20,343)
	2,906,092	3,527,852
Restricted funds Unrestricted funds	2,863,133 42,959	3,484,893 42,959
	2,906,092	3,527,852
Statement of Financial Activities	2020	2019
	£	£
Income Expenditure	183,400 (804,135)	209,467 (167,359)
Investment(losses)/gains	(1,025)	236,062
Net (expenditure)/income and movementin funds	(621,760)	278,170

	2020	2019
	£	£
Net expenditure	(472,243)	(1,710,404)
Netinterest expense	162,477	227,450
Loss on investments	74,025	18,938
Investment income	(22,790)	(39,551)
Investment managementfee	2,179	L515
Depreciation charges	925,726	913,416
Amortisation charges	11,227	11,23]
(Increase)/decrease in stocks	(3,873)	9,209
Decrease in debtors	85,231	88,352
(Decrease)/increase in creditors	(364,334)	669,840
Net cash provided by operating activities	397,625	189,996

		2020	2019
		£	£
Cash	at bank and in hand	349,958	93,013
Short	term deposits (included in investments)	-	43,466
Bank	overdraft	(1,387,512)	(1,341,927)
		(1,037,554)	(1,205,448)

	Balance 1 September 2019 £	Cash flows &	New Finance Leases £	Balance 31 August 2020 &
Cash at bank and in hand	93,013	256,945	-	349,958
Short term deposits (included in investments)	43,466	(43,466)	-	-
Bankoverdraft	(1,341,927)	(45,585)	-	(1,387,512)
	(1,205,448)	167,894	-	(1,037,554)
Loansfalling due within one year	(206,503)	(2,920)	-	(209,423)
Loansfalling due after more than one year	(1,815,155)	209,423	.	(1,605,732)
Financelease obligations	(499,206)	126,614	(49,104)	(421,696)
	(2,520,864)	333,117	(49,104)	(2,236,851)
	(3,726,312)	501,011	(49,104)	(3,274,405)

	. Unrestricted Funds	. Unrestricted Funds	Restricted Funds	Total Funds
	Revenue	Revaluation		2019
	£	£	&	&
INCOME
Charitableactivities
Schoolfees Othereducational income Ancillary trading	10,480,679 435,863 1,217,238	. . -	- - -	10,480,679 435,863 1,217,238
Othertradingactivities Investment income Donations andlegacies Other income	198,236 3,010 - -	- - - -	- 36,541 116,120 -	198,236 39,551 116,120 -
Total income	12,335,026	:	152,661	12,487,687
EXPENDITURE
Raising funds Charitableactivities	719,822 13,435,603	. -	2,409 21,319	722,231 13,456,922,
Total expenditure	14,155,425	“	23,728	14,179,153
Net (expenditure) before
investment losses	(1,820,399)	-	128,933	(1,691,466)
Netlosses on investments	-	:	(18,938)	(18,938)
NET (EXPENDITURE) /
INCOME	(1,820,399)	-	109,995	(1,710,404)
Transfers	230,825	(144,000)	(86,825)	-
NET MOVEMENTIN FUNDS	(1,589,574)	(144,000)	23,170	(1,710,404)
Funds Balances Carried Forward at 1 September 2018	4,066,193	16,054,374	3,207,991	23,328,558
Fund Balances Carried
Forwardat 31 August 2019	2,476,619	15,910,374	3,231,161	21,618,154