## 

||`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: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgments and estimates that are reasonable and prudent; 

- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

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`|<br>|<br> <br>`13,277,776`|<br>|<br> <br>`:`|<br> <br>`66,861`|<br> <br>`13,344,637`|<br> <br>`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`|<br> <br>`4`|<br> <br>`12,833,760`|<br>|<br> <br>`-`|<br> <br>`122,183`|<br> <br>`12,955,943`|<br> <br>`13,029,294`|
|`Net income/(expenditure) before`||||||||
|`investmentlosses`||`444,016`||`:`|`(55,322)`|`388,694`|`(398,218)`|
|`Net losses on investments`||<br>`-`||<br>`:`|<br>`-`|<br>`:`|<br>`(74,025)`|
|`NET INCOME/(EXPENDITURE)`||`444,016`||`-`|`(55,322)`|`388,694`|`(472,243)`|
||`12a`|||||||
|`Transfers`|<br>`12b`|<br>`138,086`|<br>`(144,000)`||<br>`5,914`|<br>`:`|<br>`-`|
|`NET MOVEMENTIN FUNDS`||`582,102`|`(144,000)`||`(49,408)`|`388,694`|`(472,243)`|
|`Funds Balances Carried Forward at `|`1`|||||||
|`September 2020`|<br>`12`|<br>`2,741,039`|<br>`15,766,374`||<br>`2,638,498`|<br>`21,145,911`|<br>`21,618,154`|
|`Fund Balances Carried`||||||||
|`Forward at 31 August 2021`|`12`<br>|`3,323,141`<br>|`15,622,374`<br>||`2,589,090`<br>|`21,534,605`<br>|`21,145,911`<br>|
|`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**<br>**FIXED ASSETS:**<br>Intangible assets<br>**s**<br>Tangible assets<br>6<br>**CURRENT ASSETS:**<br>Stock<br>Debtors<br>7<br>Cash at bank and in hand<br>**LIABILITIES:**<br>Creditors: due within one year<br>**8**<br>**NET CURRENT LIABILITIES**<br>**TOTAL ASSETS LESS**<br>**CURRENT LIABILITIES**<br>Creditors: due after one year<br>**9**<br>**TOTAL NET ASSETS**<br>**RESRICTED FUNDS**<br>**12a**<br>**UNRESTRICTED FUNDS**<br>**12b**<br>Revenue reserves<br>Revaluation reserve<br>**TOTAL FUNDS**|•'� ���''<br>**Group**<br>**2021**<br>**£**<br>; .1, '<br>. �-�...<br>**22,327-**<br>**27,793,082**<br>**27,815,409**<br>**9,859**<br>**551,746**<br>**766�309**<br>**1,327,914**<br>**(5,173,791)**<br>**(3,845,877)**|_2020_<br>**£**<br>"<br>_26,639_<br>_28,464,763_<br>_28,491;402_<br>_10,146_<br>_476,274_<br>_349,958_<br>_836,378_<br>_(5,414,822}_<br>_(4,578,444)_||**Charity**<br>**',. 2021**<br>**£**<br>**22,327**<br>**24,949,800**<br>**24,972,127**<br>**·. 9,859**<br>**549,371**<br>**676,109**<br>**1,235,339**<br>**(5,181,313)**<br>**(3,945,974)**|_2020_<br>**£**<br>_26,639_<br>_25,525,358_|
|---|---|---|---|---|---|
||||||_25,551,997_|
||||||_10,146_<br>_453,119_<br>_274,081_<br>_77,346_<br>_(5,383,242}_<br>_(4,645,896}_|
||**23,969,532**<br>**(2,434,927)**<br>**21,534,605**<br>**2,589,090**<br>**3,323,141**<br>**15,622,374**<br>**21,534,605**|_23,912,958_<br>_(2,767,047)_<br>_21,145,911_<br>_2,638,498_<br>_2,741,039_<br>_15,766,374_<br>_21,145,911_||**21,026,153**<br>**(2,571,606)**<br>**18,454,547**<br>**39,247**<br>**2,599,091**<br>**15,816,209**<br>**18,454,547**|_20,906,101_<br>_(2,915,588}_|
||||||_17,990,513_<br>_103,366_<br>_1,926,937_<br>_15,960,210_<br>_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`<br>`ANALYSIS OF EXPENDITURE`||||||
||||`Depreciation`|||
||||`and`|`Total`|`Total`|
||`Staff Costs`|`Other`|`amortisation`|`2021`|`2020`|
||`£`|`£`|`£`|`£`|`£`|
|`Raising funds`||||||
|`Financing costs`|<br>`-`|<br>`162,676`|<br>`-`|<br>`162,676`|<br>`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`|<br>`81,989`|<br>`297,926`|<br>`96,123`|<br>`476,038`|<br>`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`|<br>`909,858`|<br>`836,371`|<br>`144,708`|<br>`1,890,937`|<br>`2,320,899`|
|`Total for Charity`|<br>`7,447,302`|<br>`4,183,929`|<br>`808,775`|<br>`12,440,006`|<br>`12,475,007`|
|`Support costs of Foundation`|<br>`8,270`|<br>`31,629`|<br>`-`|<br>`39,899`|<br>`40,396`|
|`Total for Group`|<br>`7,455,572`|<br>`4,215,558`|<br>`808,775`|<br>`12,479,905`|<br>`12,515,403`|
|`TOTAL EXPENDITURE`||||||
|`Charity`|<br>`7,447,302`|<br>`4,346,605`|<br>`808,775`|<br>`12,602,682`|<br>`12,642,534`|
|`Group`|`7,537,561`<br>|`4,513,484`<br>|`904,898`<br>|`12,955,943`<br>|`13,029,294`<br>|
|`Included within support costs are governancecosts of £35,286 (2020: £34,800) which `||||`comprise the costs of`||
|`administering the charity, audit `|`and tax.`|||||





## 

|`5`<br>`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`|
||<br>`Amounts owed by group undertakings`||<br>`-`|<br>`-`|<br>`19,313`|<br>`-`|
|||<br>|<br>`551,746`<br>|<br>`476,274`<br>|<br>`549,371`<br>|<br>`453,119`<br>|














|||`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`||<br>`25,465,409`|<br>`(4,084,967)`|<br>`(2,434,927)`|<br>`18,945,515`|
|||<br> <br>`27,815,409`|<br> <br>`(3,845,877)`|<br> <br>`(2,434,927)`|<br> <br>`21,534,605`|
|`Charity`||||||
|`Restricted funds`||`-`|`39,247`|`-`|`39,247`|
|`Unrestricted funds`||<br>`24,972,127`|<br>`(3,985,221)`|<br>`(2,571,606)`|<br>`18,415,300`|
|||<br> <br>`24,972,127`|<br> <br>`(3,945,974)`|<br> <br>`(2,571,606)`|<br> <br>`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`||<br>`25,696,402`|<br>`{4,421,942}`|<br>`(2,767,047)`|<br>`18,507,413`|
|||<br> <br>`28,491,402`|<br> <br>`(4,578,444)`|<br> <br>`(2,767,047)`|<br> <br>`21,145,911`|
|`Charity`||`£`|`£`|`£`|`£`|
|`Restrictedfunds`||`-`|`103,366`|`-`|`103,366`|
|`Unrestrictedfunds`||<br>`25,551,997`|<br>`(4,749,262)`|<br>`(2,915,588)`|<br>`17,887,147`|
|||<br>`25,551,997`<br>|<br>`(4,645,896)`<br>|<br>`(2,915,588)`<br>|<br>`17,990,513`<br>|


























## 



||`WELLINGTON SCHOOL1837`|`WELLINGTON SCHOOL1837`|||
|---|---|---|---|---|
|`NOTESTO THE FINANCIAL STATEMENTS`|||||
|`FOR `|`THE YEAR ENDED `|`31 AUGUST2021`|||
|`21.`<br>`CONSOLIDATED STATEMENTOFFINANCIAL ACTIVITES FOR THE YEAR ENDED 31 AUGUST2020`|||||
||`Unrestricted Funds`||`Restricted`<br>`Funds`|`Total`<br>`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`<br> <br>|<br> <br>`12,482,504`|<br> <br>`-`|<br> <br>`148,572`|<br> <br>`12,631,076`|
|`EXPENDITURE`|||||
|`Raising funds`|`512,420`|`-`|`1,471`|`513,891`|
|`Charitable activities`<br>|<br>`12,467,363`|<br>`-`|<br>`48,040`|<br>`2,515,403`|
|`Total expenditure`<br>|<br>`12,979,783`|<br>`-`|<br>`49,511`|<br>`13,029,294`|
|`Net (expenditure) before`|||||
|`investment losses`|`(497,279)`|`-`|`99,061`|`(398,218)`|
|`Net losses on investments`<br>|<br>`-`|<br>`-`|<br>`(74,025)`|<br>`(74,025)`|
|`NET (EXPENDITURE) / INCOME`|`{497,279)`|`-`|`25,036`|`(472,243)`|
|`Transfers`<br>|<br>`761,699`|<br>`144,000`<br>`(144,000)`|<br>`617,699`<br>`(617,699)`|<br>`-`|
|`NET MOVEMENTIN FUNDS`|`264,420`|`(144,000)`|`(592,663)`|`(472,243)`|
|`Funds Balances Carried Forward at`<br>`1 September 2019`|`2,476,619`|`15,910,374`|`3,231,161`|`21,618,15`<br>`’`<br>`4`|
|`Fund BalancesCarried`<br>|||||
|`Forward at 31 August 2020`<br>|`2,741,039`<br>|`15,766,374`<br>|`2,638,498`<br>|`21,145,91`<br>`—_`<br>`1`<br>|