OpenCharities

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

2021-08-31-accounts

Page
Governors, Officers and Advisers 3-4
Governors’ Report(including Strategic Report) 5-24
Statement of Governors’ Responsibilities 24
Reportof the Independent Auditor to the Governors 25-27
Consolidated Statement ofFinancial Activities 29
Consolidated and School Balance Sheets 30
Consolidated Statement of Cash Flows 31
Statement of Accounting Polices 32-35
Notesto the Financial Statements 35-55

WELLINGTON SCHOOL 1837

GOVERNORS' REPORT

FOR THE YEAR ENDED 31 AUGUST 2021

STATEMENT OF GOING CONCERN

In light of the COVID-19 situation, the Governors believe that the Charity's financial resources and contingency planning is sufficient to ensure the ability of the School to continue as a going concern for the foreseeable future and therefore the financial statements have been prepared on this basis. The Executive have been closely monitoring the finances and cashflow position and have undertaken detailed contingency planning.

In our consideration of the presumption of going concern as the basis for the preparation of t�e report and financial statements, the Governors have concluded that no material uncertainties have been identified that may cast significant doubt about the ability of the School to continue as a going concern. The Governors therefore have a reasonable expectation that the School has adequate resources to continue in operational existence for the.foreseeable future. For this reason, we continue to adopt the going concern basis in preparing the financial statements.

AUDITORS

Crowe U.K. LLP has indicated its willingness to be reappointed as statutory auditor.

The Report of the Trustees, including the Strategic Report, was approved by the Governors on[8][th ] December 2021 and signed on their behalf by

Ms A Govey BSc, MSc Chairman

Date: 8 December 2021

23

WELLINGTON SCHOOL 1837

GOVERNORS' REPORT

FOR THE YEAR ENDED 31 AUGUST 2021

The Governors (who are also directors of Wellington School 1837 for the purposes of company law) are responsible for preparing the Strategic Report, Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

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

The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to Auditors

Insofar as each of the Governors of the charity at the date of approval of this report is aware there is no relevant audit information (information needed by the charity's auditor in connection with prepar1ng the audit report) of which the charity's auditor is unaware. Each Governor has taken all of the steps that he/she should have taken as a Governor in order to make himself/herself aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

The Trustee's Report and Strategic Report is approved by the Governors on 8�h December 2021 and signed on their behalf by:

Ms A Govey BSc, MSc Chairman

Date: 8 December 2021

24

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF

WELLINGTON SCHOOL 1837

FOR THE YEAR ENDED 31 AUGUST 2021

the Finance Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, designing audit procedures over income, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non­ compliance and cannot be expected to detect non-compliance with all laws and regulations.

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 4th Floor St James House StJames' Square Cheltenham GLSO 3PR

Date: 17 December 2021

28

WELLINGTON SCHOOL 1837 WELLINGTON SCHOOL 1837 WELLINGTON SCHOOL 1837
CONSOLIDATED STATEMENTOF FINANCIAL ACTIVITIES
(Incorporating a Consolidated income and Expenditure Account)
FOR THE YEAR ENDED 31 AUGUST2021
Notes Unrestricted Funds Restricted Total Funds Total Funds
Funds
Revenue Revaluation 2021 2020
£ £ £ £ £
INCOME
Charitable activities
School fees 1 12,110,414 - - 12,110,414 10,871,395
Other educational income 2 221,033 - - 221,033 198,442
Ancillary trading 2 726,204 - - 726,204 716,509
Othertrading activities 2 75,653 - - 75,653 105,720
Investment income 2 621 - 3 624 22,790
Donationsand legacies 2 878 - 62,758 63,636 164,173
Other income 2 142,973 - 4,100 147,073 552,047
Total income


13,277,776


:

66,861

13,344,637

12,631,076
EXPENDITURE
Raising funds 476,038 - - 476,038 513,891
Charitable activities 12,357,722 - 122,183 12,479,905 12,515,493
Total expenditure

4

12,833,760


-

122,183

12,955,943

13,029,294
Net income/(expenditure) before
investmentlosses 444,016 : (55,322) 388,694 (398,218)
Net losses on investments
-
:
-
:
(74,025)
NET INCOME/(EXPENDITURE) 444,016 - (55,322) 388,694 (472,243)
12a
Transfers
12b
138,086
(144,000)
5,914
:
-
NET MOVEMENTIN FUNDS 582,102 (144,000) (49,408) 388,694 (472,243)
Funds Balances Carried Forward at 1
September 2020
12
2,741,039
15,766,374
2,638,498
21,145,911
21,618,154
Fund Balances Carried
Forward at 31 August 2021 12
 3,323,141
 15,622,374
 2,589,090
 21,534,605
 21,145,911
The notes on page 32 to 55 form partof these financial statements.
29

:

�-

WELLINGTON SCHOOL 1837 . '·· .•

CONSOLIDATED AND CHARITY BALANCE SHEETS

AS·AJ,3�:·�UGUST 2021 ·. ·: ..

COMPANY: N.UMBER 09316.033

Notes
FIXED ASSETS:
Intangible assets
s
Tangible assets
6
CURRENT ASSETS:
Stock
Debtors
7
Cash at bank and in hand
LIABILITIES:
Creditors: due within one year
8
NET CURRENT LIABILITIES
TOTAL ASSETS LESS
CURRENT LIABILITIES
Creditors: due after one year
9
TOTAL NET ASSETS
RESRICTED FUNDS
12a
UNRESTRICTED FUNDS
12b
Revenue reserves
Revaluation reserve
TOTAL FUNDS		 •'� ���''
Group
2021
£
; .1, '
. �-�...
22,327-
27,793,082
27,815,409
9,859
551,746
766�309
1,327,914
(5,173,791)
(3,845,877)		 2020
£
"
26,639
28,464,763
28,491;402
10,146
476,274
349,958
836,378
(5,414,822}
(4,578,444)		 Charity
',. 2021
£
22,327
24,949,800
24,972,127
·. 9,859
549,371
676,109
1,235,339
(5,181,313)
(3,945,974)		 2020
£
26,639
25,525,358
25,551,997
10,146
453,119
274,081
77,346
(5,383,242}
(4,645,896}
23,969,532
(2,434,927)
21,534,605
2,589,090
3,323,141
15,622,374
21,534,605		 23,912,958
(2,767,047)
21,145,911
2,638,498
2,741,039
15,766,374
21,145,911		 21,026,153
(2,571,606)
18,454,547
39,247
2,599,091
15,816,209
18,454,547		 20,906,101
(2,915,588}
17,990,513
103,366
1,926,937
15,960,210
17,990,513

The net movement in funds for the charity was a surplus of £464,034 {2020: surplus of £269,990}.

The financial statements were approved by the Governors of Wellington School 1837 on 8[th ] December 2021 and signed on their behalf by:

Ms A Govey BSc, MSc

Chairman

Date: 8 December 2021

The notes on page 32 to 55 form part of these financial statements

30

The numberof employees whose emoluments exceeded £60,000 were:
2021 2020
No. No.
£60,000 - £70,000 10 5
£70,001 - £80,000 - 1
£80,001 - £90,000 - 1
£120,001 - £130,000 1 1
The numberwith retirement benefits accruing were:
Defined benefit pension schemes - 7
Defined contribution pension schemes 11 1
Contributions to defined contribution pension schemes £112,600 £10,908
WELLINGTON SCHOOL1837 WELLINGTON SCHOOL1837
NOTESTO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
4
ANALYSIS OF EXPENDITURE
Depreciation
and Total Total
Staff Costs Other amortisation 2021 2020
£ £ £ £ £
Raising funds
Financing costs
-
162,676
-
162,676
167,528
Totalfor Charity : 162,676 - 162,676 167,528
Trading costs of subsidiary 81,989 135,250 96,123 313,362 344,892
Investment management - - - - L471
Total for Group
81,989
297,926
96,123
476,038
513,891
Charitable activities
Teaching costs 5,422,831 1,173,890 27,708 6,624,429 6,834,799
Welfare 433,165 1,063,145 20,380 1,516,690 1,223,324
Premises 681,448 1,110,523 615,979 2,407,950 2,095,985
Support costs of schooling
909,858
836,371
144,708
1,890,937
2,320,899
Total for Charity
7,447,302
4,183,929
808,775
12,440,006
12,475,007
Support costs of Foundation
8,270
31,629
-
39,899
40,396
Total for Group
7,455,572
4,215,558
808,775
12,479,905
12,515,403
TOTAL EXPENDITURE
Charity
7,447,302
4,346,605
808,775
12,602,682
12,642,534
Group 7,537,561
 4,513,484
 904,898
 12,955,943
 13,029,294
Included within support costs are governancecosts of £35,286 (2020: £34,800) which comprise the costs of
administering the charity, audit and tax.

5
INTANGIBLE FIXED ASSETS
Group and Charity Totai
Cost
1 September 2020 115,500
Disposals (40,498)
31 August 2021 75,002
Amortisation
1 September 2020 88,861
Chargefor the year 4,312
Disposals (40,498)
31 August 2021 52,675
Net Book Values
31 August 2021 22,327
31 August 2020 26,639

7 DEBTORS
Group Charity
2021 2020 2021 2020
£ £ £ £
Fees 57,434 150,869 57,434 150,869
Extras 204,851 10,242 204,851 10,241
Prepayments 240,797 211,010 237,972 196,990
Sundry debtors 48,664 104,153 29,801 95,019

Amounts owed by group undertakings
-
-
19,313
-


551,746
476,274
549,371
453,119
WELLINGTON SCHOOL1837 WELLINGTON SCHOOL1837
NOTESTO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
12 ALLOCATION OF NET ASSETS OF CHARITY AND GROUP
Thenetassets are held for the various funds and advancefees as follows:
2021
Fixed Net Current Long Term Total
Assets Liabilities Liabilities 2021
Group £ £ £ £
Restricted Funds 2,350,000 239,090 - 2,589,090
Unrestricted Funds
25,465,409
(4,084,967)
(2,434,927)
18,945,515


27,815,409

(3,845,877)

(2,434,927)

21,534,605
Charity
Restricted funds - 39,247 - 39,247
Unrestricted funds
24,972,127
(3,985,221)
(2,571,606)
18,415,300


24,972,127

(3,945,974)

(2,571,606)

18,454,547
2020
Fixed Net Current Long Term Total
Assets Liabilities Liabilities 2020
Group £ £ £ £
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 £ £ £ £
Restrictedfunds - 103,366 - 103,366
Unrestrictedfunds
25,551,997
(4,749,262)
(2,915,588)
17,887,147

25,551,997
(4,645,896)
(2,915,588)
17,990,513

WELLINGTON SCHOOL1837 WELLINGTON SCHOOL1837
NOTESTO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST2021
21.
CONSOLIDATED STATEMENTOFFINANCIAL ACTIVITES FOR THE YEAR ENDED 31 AUGUST2020
Unrestricted Funds Restricted
Funds		 Total
Funds
Revenue Revaluation 2020
£ £ £ £
INCOME
Charitable activities
Schoo!fees 10,871,395 - - 10,871,395
Other educational income 198,442 : - 198,442
Ancillary trading 716,509 - - 716,509
Othertrading activities 105,720 - - 105,720
Investment income 6,161 - 16,629 22,790
Donationsand legacies 37,319 - 126,854 164,173
Other income 546,958 - 5,089 552,047
Total income

12,482,504

-

148,572

12,631,076
EXPENDITURE
Raising funds 512,420 - 1,471 513,891
Charitable activities
12,467,363
-
48,040
2,515,403
Total expenditure
12,979,783
-
49,511
13,029,294
Net (expenditure) before
investment losses (497,279) - 99,061 (398,218)
Net losses on investments
-
-
(74,025)
(74,025)
NET (EXPENDITURE) / INCOME {497,279) - 25,036 (472,243)
Transfers
761,699
144,000
(144,000)
617,699
(617,699)
-
NET MOVEMENTIN FUNDS 264,420 (144,000) (592,663) (472,243)
Funds Balances Carried Forward at
1 September 2019		 2,476,619 15,910,374 3,231,161 21,618,15
’
4
Fund BalancesCarried
Forward at 31 August 2020
 2,741,039
 15,766,374
 2,638,498
 21,145,91
—_
1