**Charity registration number: 1170355 Company registration number: 09993570** 

## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

**COMPANY LIMITED BY GUARANTEE** 

**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 JULY 2021** 



## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **CONTENTS** 

||**Page**|
|---|---|
|Trustees' report|1|
|Auditors' report|13|
|Statement of Financial Activities|17|
|Balance sheet|18|
|Statement of Cash Flows|19|
|Notes to the financial statements|20|





## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **TRUSTEES’ REPORT** 

## **FOR THE YEAR ENDED 31 JULY 2021** 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

**Charity name** Landmark International School, Cambridge **Charity registration number** 1170355 **Company registration number** 09993570 **Trustees** Mr Martin Beazor Appointed as Chair 20/04/20 Appointed as Trustee 18/12/2018 Mr Jonathan Barker Resigned as Chair 20/04/20 Resigned as Trustee 30/9/2021 Mr John Barrett Appointed 18/12/18 Mr Mark Dawes Appointed 31/03/20 Mrs Linda Dennis Appointed 01/04/2020 Mr Andrew Rand Appointed 21/09/20 Mr Richard Brent Appointed 30/9/2021 

**Registered office** The Old Rectory 9 Church Land Fulbourn Cambridgeshire CB21 5EP **Key management personnel** Gareth Turnbull-Jones Head Teacher Paula Elliott Head of Secondary (Deputy & DSL) Carine Bennett Head of Primary Sue Hilton-Taylor Learning Systems Coordinator Mary Greer Registrar & Careers Officer Jo Pulford Data Systems Coordinator Deb Jewitt-Hardland Business Manager (Bursar) Jenna Fritz PYP Coordinator **Auditors** Price Bailey LLP Chartered Accountants & Statutory Auditors Tennyson House Cambridge Business Park Cambridge CB4 0WZ **Bankers** Barclays Bank plc Leicester LE27 2BB 

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**LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2021** 

The Trustees of Landmark International School, Cambridge are pleased to present their annual report for the financial year ended 31[st] July 2021. The Trustees report is considered to be the directors’ report as required by company law. 

## **OBJECTIVES AND ACTIVITIES** 

Landmark International School, Cambridge was formed in 2016 and is an independent school based just outside Cambridge in Fulbourn. It offers a high-quality, caring and creative education within an international context. 

The school was set up by a group of like-minded parents and a member of staff whose children were already in the independent international school system but who wanted a greater say in shaping the ethos and delivery of the type of education that they wanted for their children. 

The school opened in September 2016 with 40 students. During its first academic year, the school provided classes for Year 2 to Year 11 for children between the ages of six to sixteen. In the academic year 2017-18 the school extended its reach to include children from age 5 in its Year 1 class.  The school has a maximum capacity of 100 students. 

The school’s objects as set out in the Articles of Association dated 5th February 2016 are specifically restricted to promoting the education (including social and physical training) for the public benefit of people under the age of 25 years in such ways as the trustees think fit, including by: 

- Awarding to such persons bursaries, maintenance allowances or grants, tenable at any university, college or institution of higher or further education; 

- Providing their education (including the study of music or other arts), to undertake travel in furtherance of that education, or to prepare for entry to any occupation, trade or profession on leaving any educational establishment. 

## **Aims and objectives** 

The overall aim of the school is to create a friendly community environment in which British and international children can learn and develop.  It aims to deliver an individualised educational programme for each student, focusing on the development of a child’s self-confidence by nurturing their academic talents and interests. 

The school has the following objectives: 

- To be inclusive and non-selective and admit any child whose needs can be appropriately met 

- To employ inspirational teachers and provide lessons that are engaging and memorable 

- To maintain small class sizes and provide teaching that is tailored to the needs of each student to ensure that all students achieve their academic potential 

- To deliver a high level of pastoral care 

- To promote cultural awareness, equality of opportunity, and tolerance and respect for others and prepare students to become global citizens 

- To provide a rounded education and to inculcate a life-long interest in learning 

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## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2021** 

## **Activities** 

## Academic 

The school offers a broad range of academic subjects and students in Years 10 and 11 follow a mixture of GCSE and international GCSE (iGCSE) curricula depending on the subject. 

To support an international curriculum throughout the school, the school has successfully become a candidate school for International Baccalaureate Primary Years Programme (Reception to year 6). 

In keeping with the international outlook of the school, a range of language options is offered to students including Mandarin, Spanish, French and Latin. Overseas students are offered ‘mother tongue’ classes to help them acquire literacy and other skills in their first language. For students needing extra help with their English, the school offers lessons in English as a foreign language, and intensive tuition in English if this is necessary. 

## Other activities 

Music, art, drama, media and photography are part of the school curriculum.  In addition, peripatetic music teachers visit the school for individual instrumental and singing lessons. 

Sport is an important part of school life and students are given the opportunity to try a broad range both as part of the physical education curriculum and as extra-curricular clubs at lunchtimes and after school. These include football, tennis, badminton, netball, squash, cricket, hockey and swimming.  Lessons take place at the local sports facilities in Fulbourn as well as in Cambridge.  Other activities such as yoga and martial arts take place in the school hall. 

## Wraparound care 

The school offers wraparound care from 8am to 5.30pm in term-time, and activity clubs in the holidays. After school activities include football, chess, drama and art. The school also offers supervised home-work clubs during the lunch time break. 

The school is a registered charity which means that every penny is invested entirely into the education of its children and provides for the future development and stability of the school. In setting its objectives and planning its activities, the school has given careful consideration to the Charity Commission’s public benefit guidance. 

With this in mind, the school has the following public benefit objectives: 

- To increase student numbers over the first few years of the school’s opening in order to reach full capacity 

- To forge links with the local community through shared resources and joint planning of activities 

The school has put into place a means-tested bursary scheme to assist as many students as practicable, and to try and ensure that any child who it is thought would benefit from the small learning environment is not prohibited from attending because of financial circumstances. 

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## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2021** 

## **Criteria for success** 

All students are assessed by online tests provided by the Centre of Evaluation and Monitoring when they join the school and then on a termly basis.  These tests allow us to have a clear picture of each student's academic ability and strengths and weaknesses and give us predictions on how students will perform in their examinations at age 16 or at the end of each key stage.  We are then able to see how much value has been added by the education provided at Landmark. 

In order to measure success of the school, the following measures are also taken into consideration: 

- GCSE results 

- OFSTED results 

## **Working with the Local Community and Public Benefit** 

The school has contracted with a number of local tradespeople and other business people.  It employs a public house in the village to provide school lunches, and it makes regular use of the local sports facilities. Notices for job vacancies are posted first in Fulbourn High Street, at the Fulbourn Centre, on the Fulbourn Facebook page and in publications in the surrounding villages. 

The school works diligently to ensure that school traffic is kept to a minimum and actively encourages more sustainable travel for staff and students. Staff, parents and visitors are instructed to park their vehicles within the school grounds and not on residential road. Transport to and from school is provided by three minibuses for students in Cambridge and the surrounding villages, which reduces congestion during drop-off and pick-up at the site. 

The school actively seeks the views of local residents and business owners and all those with an interest in the school and welcomes visitors to the school building for fundraising and social events such as a regular quiz night. 

Students, staff and parents have worked together to raise funds for charities such as Children in Need and Sport Relief.  It is hoped that by setting a good example as a school, it can help to influence the expectations and behaviour of its students as future citizens, active members of the community, and leaders. 

## **Grant making policy** 

A means tested bursary scheme has been put in place to encourage applications from students who would not otherwise be able to attend the school. This scheme forms part of the school's ambition to offer the advantages of small classes, excellent teachers, strong pastoral care and a truly international environment to a broader range of families. 

The school has a policy on reduced fees and it is important to trustees to be able to offer subsidised places as part of its commitment to equality of opportunity and as part of the school’s public benefit. This is also in line with the school’s charitable objectives. Bursaries are available for students whose parents meet certain income thresholds. Reduced fees are also offered to parents with multiple children at the school. 

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## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2021** 

## **Long term objectives** 

In the long term, the school aims to continue being able to provide education for the foreseeable future. In order to achieve this, the school would like to increase awareness of its presence and offering in the local Cambridge area as well as internationally. Relationships with relocation agencies and educational agencies have been formed which are helping to build the school's reputation. The school has worked hard to become a valued member of the local community and has been forging links with local businesses such as the village pub, which provides its school lunches, the community centre which it rents for sporting facilities and by using the local shops and services. The school also aims to build reserves to be able to continue in existence in the long term. 

## **ACHIEVEMENTS AND PERFORMANCE** 

## **Achievements** 

- The recruitment of three new trustees with extensive experience in education and finance. 

- The completion of the refurbishment of the outbuildings to the back of the school into a fully fitted science laboratory and art room. 

- The Trustees have improved the building by the laying of a new vinyl floor in the main hall, the installation of smaller toilets for the younger children in the lavatory block at the front of the school and painting of the walls in the main hall and toilet block. The bay window in Kingfisher Class has been converted into French doors.  These open into the outdoor play area reserved for the younger students and allow them to ‘free flow’ between inside and outside. 

- The reception area has been refurbished and redecorated to provide a welcoming, professional looking area for visitors to the school 

- A full time Receptionist has been appointed to ensure the front door, telephone and reception area are manned at all times by a professional and welcoming member of staff. 

- A Careers website has been created to allow students to access a range of information on post sixteen educational provision, the top universities throughout the UK and the rest of the world, details on career opportunities, salaries and the skills and personality attributes required as well as the range of salaries awarded and access to an online careers library 

- Excellent I/GCSE results achieved in 2021: As a relatively new school we did not have a year 11 class this year, however, we have supported a year 11 student over the last two years to develop her English and complete her I/GCSEs. In addition we have supported a number of students in completing language I/GCSEs early. This is a way Landmark supports students who take a number of languages for their GCSEs, by spreading them out throughout the course. Our year 11 student who came to us two years ago achieved seven A* and two 9s (A* equivalent), she also did the FSMQ (an advanced mathematics course) and received an A. Her IGCSE in maths was completed in January when she took the examination achieving a 9 grade. We had seven of our students take language I/GCSEs early. In French we received six A* and one A, in Spanish we received three A*, in Italian one A* and a 7 (A equivalent) in Arabic. 

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## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2021** 

- Student numbers reached 94 by the end of the 2020/2021 academic year and the school is set to open on 99 students in September 2021.  This is despite the uncertainties caused by the global pandemic and Brexit. 

- The COVID-19 pandemic presented the school with a broad and unexpected range of challenges. These included having to adapt to lockdown which included school premises closure for all except key worker’s children and vulnerable children on March 23rd and the requirement to implement a range of safety procedures including regular sanitisation of desks, chairs, door handles, keyboards, the implementation of one way systems, facial protection and staggered lunch and break times to include the new system of grouping students and staff into ‘bubbles’. The Headteacher and staff worked extremely hard to support students at home with a distance learning website, a range of online lessons, weekly whole school assemblies and google ‘meets’ to keep students in touch with one another. 

- The school has been awarded candidate status for the International Baccalaureate Primary Years Programme and will now work to become an accredited IB World School 

- The secondary staff, led by the Headteacher, Head of Centre and Exams Officer, were required to transition to a system of internal marking and grading for I/GCSE students in the absence of the sitting of public examinations 

## **OFSTED INSPECTION** 

The school underwent an Ofsted Inspection Progress Monitoring Inspection on the 3rd March 2021.  This followed the Inspection report received following the Ofsted inspection in January 2020, in which the school received an overall grading of ‘requires improvement’ in ‘The Quality of Education’ and ‘Leadership and Management’.  This was due to changes in the criteria required by Ofsted in the Primary Department. The criteria for assessment by Ofsted had changed in September 2019, to concentrate on the curriculum areas of writing, reading and maths, and the Headteacher was addressing the need for a change in these areas, particularly in the primary department. 

Unfortunately, the 2020 inspection took place before these changes had all been implemented and the two inspection officers found the primary writing curriculum to be in the ‘requires improvement’ category. Therefore, whilst the school received a rating of  ‘Good’ for the areas of ‘Behaviour and attitudes’ and ‘Personal Development, the overall rating for the school was ‘Requires Improvement’. Since then The Headteacher and his team have submitted an ‘action plan’ to Ofsted addressing this area and this has been deemed acceptable. The Inspection Monitoring Inspection found all regulatory independent schools standards were now met. However, a full Ofsted inspection will have to be undergone before the school’s overall rating can be returned to ‘Good’.  Despite the challenges posed by the January 2020 inspection report retention and admission of students has continued to be excellent. 

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## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2021** 

## **FINANCIAL REVIEW** 

## **Fees and Bursaries** 

The termly fees for 2020/2021 were as follows: 

||2020/2021|2019/2020|
|---|---|---|
|Infants (up to year 2)|£3,940|£3,940|
|Juniors (years 3-6)|£4,326|£4,180|
|Seniors (year 7-9)|£4,792|£4,630|
|Seniors (year 10-11)|£4,896|£4,730|



Additional fees are charged for mother tongue and additional English lessons, additional special educational support, and some extra-curricular activities and school trips.  There is an additional charge for lunches and for minibus travel to and from school. 

The number of academic scholarships and bursaries offered in the year was 17 with an annual combined value of £91,226 a slight decrease on the previous year of £99,829. Bursaries awarded during the year are disclosed in note 5. 

## **Going concern** 

Unrestricted free reserves of the school at the year end, being unrestricted funds less fixed assets, were in surplus by £248,539 (2020: £158,313). 

The trustees have considered a period of 12 months after the approval of these financial statements and believe there is sufficient cash and funds to continue operation on a going concern basis. 

The school has faced the challenges caused by the COVID-19 pandemic during the past academic year. Despite this student numbers have remained positive.  The school’s reputation has grown and there is more awareness of the provision the school offers within the Cambridgeshire community; this has caused the number of enquiries to rise considerably.  The closure of Cambridge International School in June 2020 means that Landmark is now the only international school in Cambridge which offers secondary education (aged 11-16 years); this has undoubtedly had a positive impact on student recruitment.  Work on the website to improve search engine optimisation has resulted in an increased enquiry level by overseas students as well. 

The school is aware that BREXIT will also present challenges.  However, an analysis of the current parent body has been undertaken and the trustees are confident that the vast majority of school families have their residency and visa situation organised in a way which means they will not be impacted by the BREXIT situation. 

Given the school’s increasing reputational status, the positivity of our parent body in response to the school’s handling of the COVID situation, as well as the analysis of risk of current families in relation to BREXIT, the school is confident that it will be in a positive financial position throughout the forthcoming year. 

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## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2021** 

## **Financial results** 

In the 2020/21 academic year the school reported a surplus of £85,113 compared to a surplus of £84,016 in 2019/20. 

The trustees continually monitor the school’s solvency as part of their on-going risk assessment procedures and ensure that they follow the guidance specified in Charity Commission publication cc12. The school is required to have a statutory audit as its revenue has exceeded £1m in the current year. 

In the academic year 2020/2021 the fee income was sufficient to cover direct expenditure on educational activities. This was due to careful financial management and a further increase in student numbers. 

At the year end the school had total funds of £387,883 (2020: £302,770), all of which were unrestricted. 

Unrestricted free reserves of the school at the year end, being unrestricted funds less fixed assets, totalled £248,539 (2020: £158,313). 

As a charity, the school receives tax exemption as well as an 80% reduction on business rates.  These benefits are applied for educational purposes and indirectly help to maintain its bursary policy.  However, the school is unable to reclaim VAT input tax on its costs as it is exempt for VAT purposes.  It also pays tax as an employer through the national insurance contributions it makes. 

## **Reserves Policy** 

The trustees recognise the need for prudent financial management of the school’s resources and for building reserves over time to meet its immediate objectives and protect its current activities. 

The aim is to build reserves to a position sufficient to cover one term’s costs, which, as per Landmark’s current budget forecast, is currently £439,000 (2020: £385,000). The current free reserves position is £248,539 (2020: £158,313) as per Note 12. This is an improvement on the 2019/20 academic year result. 

## **Events occurring after the end of the reporting period** 

As a relatively new school, we only had one Year 11 student this year.  This student, who came to us two years ago without fluency in English, achieved seven A* and two 9s (A* equivalent) in her IGCSEs.  She also completed the FSMQ (an advanced mathematics course) and was awarded an A. Her IGCSE in maths was completed in January when she took the examination achieving a 9 grade. We had seven of our students take language I/GCSEs early. In French we received six A* and one A, in Spanish we received three A*, in Italian one A* and a 7 (A equivalent) in Arabic. 

## **RISK MANAGEMENT** 

The principal risks that the school faces are: 

## **Cash flow** 

A risk identified in the first year’s accounts (2016-2017) was the potential difficulty in managing cash flow in the school’s first year due to the cyclical nature of cash inflows compared with the on-going cash outflows – particularly over the summer months.  Now that the student numbers have risen significantly this risk is greatly reduced. 

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## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2021** 

## **Brexit** 

The trustees consider Brexit to pose a potential risk to the school. The trustees have undertaken an assessment of those families whom we feel may be affected by this.  The proportion of students potentially affected is low, at less than 10%. The trustees will continue to monitor this going forward. 

## **Covid-19 Pandemic** 

The current pandemic poses a potential risk.  However, with all major risks having been reviewed, the school has the ability to return to distance learning for all, should this be required. The school continues to have good communication with parents and PTA in regard to procedures and next steps in case of further school disruption due to COVID-19. This has been demonstrated by the recent delivery of distance learning to a bubble of students, who were required to self-isolate. 

The governing body ensures that all major risks have been reviewed, assessed and monitored throughout the year and controls and procedures are in place to mitigate them. 

## **PLANS FOR FUTURE PERIODS** 

The Trustees were investigating the possibility of renting the school building to an educational summer school for four weeks of the 2020 summer break in order to supplement the school’s income during the holidays.  Unfortunately, this could not take place due to a pandemic.  However, this is something that will be explored again once the situation regarding COVID-19 is resolved.  The school has been approached by a number of organisations who have expressed an interest in renting the school premises either during the school holidays or at weekends. 

The Trustees and the school leadership team are in dialogue with other establishments about the possibility of renting their outdoor space to develop our outdoor learning programme. 

The school has completed an application for candidacy to become an International Baccalaureate Primary Years Programme School. The school has now been approved for candidacy.  Should the school be accredited at the end of candidacy to offer the IB Primary Years Programme, it will be the only school in Cambridge to offer this.  We consider this will be a very attractive marketing opportunity to international and local parents. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Structure** 

The school is a company limited by guarantee and a registered charity governed by its memorandum and articles of association. 

## **Key Personnel** 

Decisions on the day-to-day running of the school are taken by the Senior Leadership Team (SLT) which consists of the Headteacher, Secondary Head (Deputy & DSL), Registrar, Business Manager (Bursar), Primary Head (DSL), Learning Systems Coordinator, Data Systems Coordinator and Primary Years Programme Coordinator.  The SLT meets regularly to discuss the operational aspects of the school. 

Strategic decisions are taken by the trustees, who are responsible for monitoring the overall performance of the school and ensuring that it meets its financial, legal and other regulatory requirements. 

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## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2021** 

## **Recruitment and Appointment of Trustees** 

The new trustees in the year were introduced to Landmark through contacts with the existing trustees. The school will continue to establish links with others in the educational sector, as well as approaching interested professionals from a variety of backgrounds in order to broaden the composition of the governing body. 

## **Trustee Induction and Training** 

The school has produced a handbook for the induction of all new staff and trustees.  Training requirements are identified and followed up with in-house or external training as required. 

## **Decision Making** 

Financial proposals, such as department budget allowances, are made together by the Headteacher and Business Manager and the overall budget is made by the trustees.  Trustees are informed during trustee meetings of new staff and building works/improvements, however they are only involved in the decision making process when there is a significant financial impact as per the finance policy. 

## **Remuneration Policy** 

These decisions are made by the Trustees as a group, with input from the Head Teacher and Bursar.  The current salary of a new member of staff joining the school, together with national guidelines and affordability of the cost by the school and comparison with other schools' payments for similar roles would also be taken into account. 

## **Fundraising** 

The school understands its duty to protect the public, including vulnerable people, from unreasonably intrusive or persistent fundraising approaches and undue pressure to donate, but does not currently fundraise from the public or use any internal fundraisers or external fundraising agencies for either telephone or face-to-face campaigns and received no fundraising complaints during the year. 

## **Related Parties** 

Trustees are aware of the requirements surrounding related party transactions and monitor this closely. All transactions with related parties require approval by the trustees. Related party transactions during the year are disclosed in note 15. 

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**LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2021** 

## **TRUSTEES’ RESPONSIBILITIES** 

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

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees 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 of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: 

- Select suitable accounting policies and then apply them consistently; 

- Observe the methods and principles in the Charities SORP 2019 FRS102; 

- Make judgements and accounting 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 operation. 

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website.  Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 

## **DISCLOSURE OF INFORMATION TO AUDITORS** 

Each of the persons, who are Trustees at the time when this Trustees' report is approved, has confirmed that: 

- So far as that the Trustees are aware, there is no relevant audit information of which the charitable company's auditors are unaware, and that 

- The Trustees have taken all the steps that ought to have been taken as a Trustee in order to be aware of any information needed by the charitable company's auditors in connection with preparing their report and to establish that the charitable company's auditors are aware of that information. 

## **AUDITORS** 

Price Bailey LLP were reappointed as the charitable company’s auditors during the year. 

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## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2021** 

## **SMALL COMPANY PROVISIONS** 

In preparing this report, the Trustees have taken advantage of the small companies’ exemptions provided by section 415A of the Companies Act 2006. 

02 Mar 2022 

This report was approved by the Trustees on …………………………………………..  and signed on their behalf by: 

Martin Beazor 

Martin Beazor Martin Beazor (Mar 2, 2022, 3:50pm) **Chair of Trustees** 

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## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2021** 

|**Note**<br>**Income from:**<br>Donations and legacies<br>2<br>Charitable activities<br>3<br>Other income<br>4<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>5<br>**Net income being net**<br>**movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**|**Unrestricted**<br>**£**<br>9,632<br>1,314,011<br>5,310<br>1,328,953<br>1,243,840<br>85,113<br>302,770<br>387,883|**Restricted**<br>**£**<br>-<br>67,826<br>-<br>67,826<br>67,826<br>-<br>-<br>-|**Total funds**<br>**2021**<br>**£**<br>9,632<br>1,381,837<br>5,310<br>1,396,779<br>1,311,666<br>85,113<br>302,770<br>387,883|**Total funds**<br>**2020**<br>**£**<br>10,676<br>1,289,177<br>12,956|
|---|---|---|---|---|
|||||1,312,809<br>(1,228,793)|
|||||84,016<br>218,754|
|||||302,770|



The statement of financial activities includes all gains and losses recognised in the year and therefore a statement of total recognised gains and losses has not been prepared. 

All of the above amounts relate to continuing activities. 

The notes on pages 20 to 30 form part of these financial statements. 

Page 17 



## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE REGISTERED NUMBER: 09993570** 

## **BALANCE SHEET AS AT 31 JULY 2021** 

|**Note**<br>**Fixed assets**<br>Tangible assets<br>8<br>**Current assets**<br>Debtors<br>9<br>Cash at bank and in hand<br>Creditors: amounts falling due within one<br>year<br>10<br>**Net current assets**<br>**Total assets less current liabilities**<br>**Creditors: amounts falling due after more**<br>**than one year**<br>11<br>**Net assets**<br>**Funds**<br>Unrestricted funds<br>12<br>**Total charity funds**|40,436<br>400,526|**2021**<br>**£**<br>139,344<br>322,175<br>461,519<br>(73,636)<br>387,883<br>387,883<br>387,883|56,610<br>310,554|**2020**<br>**£**<br>144,457<br>230,063|
|---|---|---|---|---|
||440,962<br>(118,787)||367,164<br>(137,101)||
||||||
|||||374,520<br>(71,750)|
|||||302,770|
|||||302,770|
|||||302,770|



These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. 

02 Mar 2022 The financial statements were approved by the Trustees on ……………………………………… and signed on their behalf by: 

## Martin Beazor 

Martin Beazor (Mar 2, 2022, 3:50pm) Martin Beazor 

## **Chair of Trustees** 

The notes on pages 20 to 30 form part of these financial statements. 

Page 18 



## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **STATEMENT OF CASH FLOWS** 

## **FOR THE YEAR ENDED 31 JULY 2021** 

|**Note**<br>**Cash flow from operating activities**<br>Net income for year<br>Depreciation<br>Profit on disposal of fixed assets<br>Dividends, interest and rent from investments<br>Decrease/(increase) in trade and other debtors<br>Increase/(decrease) in trade and other creditors<br>**Net cash flow from operating activities**<br>Cash flow from investing activities<br>Dividends, interests and rents from investments<br>Proceeds from sale of assets<br>Purchase of tangible fixed assets<br>**Net cash flow from investing activities**<br>**Cash flow from financing activities**<br>Repayment of loans<br>**Net cash flow from financing activities**<br>**Net increase / (decrease) in cash and cash equivalents**<br>**Cash and cash equivalents at start of year**<br>**Cash and cash equivalents at end of year**<br>**13**|**2021**<br>**£**<br>85,113<br>11,203<br>(795)<br>212<br>16,174<br>(16,428)<br>**95,479**<br>(212)<br>5,669<br>(10,964)<br>**(5,507)**<br>-<br>**-**<br>**89,972**<br>**310,554**<br>**400,526**|**2020**<br>**£**<br>84,016<br>13,251<br>(886)<br>173<br>(18,333)<br>(15,528)|
|---|---|---|
|||**62,693**|
|||(173)<br>6,596<br>(26,586)|
|||**(20,163)**|
|||(20,914)|
|||**(20,914)**|
|||**21,616**<br>**288,938**|
|||**310,554**|



The notes on pages 20 to 30 form part of these financial statements. 

Page 19 



## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021** 

## **1. ACCOUNTING POLICIES** 

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year. 

## **1.1. GENERAL INFORMATION** 

The Landmark International School, Cambridge is a private charitable company limited by guarantee and is incorporated in England and Wales. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. There are currently seven (2020 – seven) trustees who are also the members of the charity. 

The Charity’s registered address is The Old Rectory 9 Church Lane, Fulbourn, Cambridge, England, CB21 5EP, the Charity’s registered number is 1170355 and the Company registration number is 09993570. 

## **1.2. BASIS OF PREPARATION** 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

The financial statements have been prepared in pounds sterling and are rounded to the nearest pound. 

Landmark International School meets the definition of a public benefit entity under FRS 102.  Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. 

## **1.3. GOING CONCERN** 

The trustees have considered a period of 12 months after the approval of these financial statements and believe there is sufficient cash and funds to continue operation on a going concern basis. 

The school has faced the challenges caused by the COVID-19 pandemic during the past academic year. Despite this student numbers have remained positive.  The school’s reputation has grown and there is more awareness of the provision the school offers within the Cambridgeshire community; this has caused the number of enquiries to rise considerably.  The closure of Cambridge International School in June 2020 means that Landmark is now the only international school in Cambridge which offers secondary education (aged 11-16 years); this has undoubtedly had a positive impact on student recruitment.  Work on the website to improve search engine optimisation has resulted in an increased enquiry level by overseas students. 

The school is aware that BREXIT will also present challenges.  However, an analysis of the current parent body has been undertaken and the trustees are confident that the vast majority of school families have their residency and visa situation organised in a way which means they will not be impacted by the BREXIT situation. 

Page 20 



**LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021** 

## **1. ACOUNTING POLICIES (CONTINUED)** 

## **1.4. FUND ACCOUNTING** 

- Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the school 

- Restricted funds are subjected to restrictions on their expenditure imposed by the funder 

## **1.5. INCOME RECOGNITION** 

All income is included in the Statement of Financial Activities when the school is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: 

- Income from donations and legacies is recognised when the school is entitled to the funds, the amount can be measured reliably and when it is probable the funds will be received 

- Income from charitable activities relates to income from the provision of education, which is billed in advance of school terms, and is recognised in the period to which it relates 

- Income from government grants are recognised at fair value when the school has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. 

## **1.6. EXPENDITURE** 

All expenditure is accounted for on accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings: 

- Charitable expenditure comprises costs incurred by the school in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them 

- Support costs are those that assist the work of the school but do not directly represent charitable activities and include office costs and governance costs.  They are incurred directly in support of expenditure on the objects of the school.  Governance costs are included within support costs and include those costs associated with meeting the constitutional and statutory requirements of the school and include the audit fees and costs linked to the strategic management of the school. 

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. 

Page 21 



**LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021** 

## **1. ACCOUNTING POLICIES (CONTINUED)** 

## **1.7. FIXED ASSETS** 

All purchased fixed assets are initially recorded at cost. 

Assets donated for use by the school are recognised as income when receivable and capitalised at their open market value. 

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: 

Leasehold improvements - Over the term of the lease Equipment - 8 years straight line Motor vehicles - 7 years straight line 

## **1.8. DEBTORS** 

Trade and other debtors are recognised at the settlement amount due after any discount or bursary offered.  Prepayments are valued at the amount prepaid net of any trade discounts due.  Accruing income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date. 

## **1.9. CASH AT BANK AND IN HAND** 

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **1.10. CREDITORS** 

Creditors are recognised where the school has a present obligation resulting from a past event that will probably result in the transfer of the funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.  Creditors are normally recognised at their settlement amounts after allowing for any trade discounts due. 

## **1.11. FINANCIAL INSTRUMENTS** 

The School only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value, which is at cost, with the exception of: 

- Fixed assets which are measured at cost less depreciation. 

- Financial assets include the trade debtors, the bank balance and accrued income (but exclude prepayments). 

- Financial liabilities include trade creditors, other creditors, loans, accruals and deferred income but exclude social security and other taxes due. 

Page 22 



**LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021** 

## **1. ACCOUNTING POLICIES (CONTINUED)** 

## **1.12. PENSION COSTS** 

The school operates a defined contribution pension scheme. Pension costs charged in the Statement of Financial Activities represent contributions payable by the school in the year. 

## **1.13. OPERATING LEASES** 

Operating leases are recognised over the period of which the lease falls due. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the period of the lease. 

## **1.14. SIGNIFICANT ACCOUNTING ESTIMATES** 

In the application of the School’s accounting policies, which are described above, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. 

The Trustees do not consider that there are any key estimates nor any critical judgements.  There are no key assumptions concerning the future, nor key sources of estimation uncertainty at the reporting date that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. 

## **1.15. TAXATION** 

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

## **2. INCOME FROM DONATIONS AND LEGACIES** 

||**Unrestricted**|**Restricted**|**Total 2021**|**Total 2020**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|Donations & legacies|9,632|-|9,632|10,676|



Income from donations received in 2020 amounted to £10,676, of which £8,676 related to unrestricted income and £2,000 to restricted income. 

Page 23 



## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021** 

## **3. INCOME FROM CHARITABLE ACTIVITIES** 

|Fee income<br>Special Education Needs funding<br>Catering income<br>Mother tongue tuition fees<br>Minibus income<br>Exam entry fees<br>Sport lessons<br>Registration fees<br>Sundry income|**Unrestricted**<br>**£**<br>1,187,736<br>-<br>18,816<br>16,697<br>19,015<br>4,044<br>7,668<br>2,800<br>57,235<br>1,314,011|**Restricted**<br>**£**<br>-<br>67,826<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>67,826|**Total 2021**<br>**£**<br>1,187,736<br>67,826<br>18,816<br>16,697<br>19,015<br>4,044<br>7,668<br>2,800<br>57,235<br>1,381,837|**Total 2020**<br>**£**<br>1,118,895<br>50,178<br>20,331<br>14,367<br>24,595<br>1,940<br>8,068<br>2,298<br>48,505|
|---|---|---|---|---|
|||||1,289,177|



Income from charitable activities in 2020 amounted to £1,289,177 of which £1,238,999 related to unrestricted income and £50,178 to restricted income. 

## **4. OTHER INCOME** 

||**Unrestricted**|**Restricted**|**Total 2021**|**Total 2020**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|CJRS income|5,310|-|5,310|12,956|



Page 24 



## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021** 

## **5. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES** 

|Staff costs including agency<br>Bursaries awarded<br>Rent, rates & utilities<br>Catering costs<br>Teaching resources<br>Professional fees<br>Minibus expenses<br>Insurance<br>Sports<br>Exam fees<br>IT & telephone<br>Repairs & maintenance<br>Training & recruitment<br>Finance costs<br>Advertising<br>Events<br>Depreciation<br>Bad debts<br>Trips<br>Sundry<br>(Profit)/Loss on disposal<br>Governance costs:<br>Audit fees<br>Other services|**Direct**<br>**costs**<br>**£**<br>**Support**<br>**costs**<br>**£**<br>**Total**<br>**2021**<br>**£**<br>762,642<br>94,259<br>856,901<br>112,506<br>-<br>112,506<br>140,638<br>-<br>140,638<br>19,113<br>-<br>19,113<br>16,114<br>-<br>16,114<br>-<br>44,580<br>44,580<br>6,554<br>-<br>6,554<br>-<br>8,734<br>8,734<br>7,557<br>-<br>7,557<br>5,802<br>-<br>5,802<br>12,616<br>-<br>12,616<br>50,610<br>-<br>50,610<br>4,431<br>-<br>4,431<br>-<br>212<br>212<br>-<br>3,274<br>3,274<br>146<br>-<br>146<br>-<br>11,203<br>11,203<br>-<br>-<br>-<br>3,795<br>-<br>3,795<br>-<br>375<br>375<br>-<br>(795)<br>(795)<br>-<br>7,300<br>7,300<br>-<br>-<br>-<br>1,142,524<br>169,142<br>1,311,666|**Direct**<br>**costs**<br>**£**<br>**Support**<br>**costs**<br>**£**<br>**Total**<br>**2020**<br>**£**<br>730,607<br>89,221<br>819,828<br>99,829<br>-<br>99,829<br>127,572<br>-<br>127,572<br>23,013<br>-<br>23,013<br>12,914<br>-<br>12,914<br>-<br>32,998<br>32,998<br>19,917<br>-<br>19,917<br>-<br>4,917<br>4,917<br>7,615<br>-<br>7,615<br>2,292<br>-<br>2,292<br>12,555<br>-<br>12,555<br>29,688<br>-<br>29,668<br>5,297<br>-<br>5,297<br>-<br>173<br>173<br>-<br>4,500<br>4,500<br>868<br>-<br>868<br>-<br>13,251<br>13,251<br>-<br>-<br>-<br>6,366<br>-<br>6,366<br>(357)<br>372<br>15<br>-<br>-<br>-<br>-<br>5,185<br>5,185<br>-<br>-<br>-|
|---|---|---|
|||1,078,176<br>150,617<br>1,228,793|



The school is considered to have only one activity, which is the provision of education services. 

Page 25 



## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021** 

## **6. STAFF COSTS** 

|Wages<br>Social security<br>Pension costs|**2021**<br>**£**<br>769,957<br>48,858<br>21,627<br>840,442|**2020**<br>**£**<br>729,593<br>52,687<br>20,630|
|---|---|---|
|||802,910|



The average number of employees during the year, on head count basis, was as follows: 

|Teaching<br>Administrative and support<br>Management|**2021**<br>20<br>11<br>7<br>38|**2020**<br>20<br>11<br>6|
|---|---|---|
|||37|



During the year, the number of employees with employee benefits (excluding employer pension costs) of £60,000 or over was as follows: 

|||**2021**|**2020**|
|---|---|---|---|
|£60,000|- £70,000|1|1|



The school considers the key management personnel to be those detailed in the reference and administration information in the trustees’ report.  The total employee benefits of the key management personnel of the school were £347,342 (2020: £310,993). 

## **7. NET INCOME** 

Net income is stated after charging: 

|Depreciation<br>Profit/(Loss) on disposal<br>Auditor remuneration – audit fees<br>Auditor remuneration  - other services<br>Operating lease rentals – buildings<br>Operating lease rental – other|**2021**<br>11,203<br>(795)<br>5,650<br>1,650<br>105,000<br>30,776|**2020**<br>13,251<br>(888)<br>5,185<br>-<br>105,000<br>10,620|
|---|---|---|



Page 26 



## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021** 

## **8. TANGIBLE FIXED ASSETS** 

|**Cost**<br>As at 1 August 2020<br>Additions<br>Disposals<br>As at 31 July 2021<br>**Depreciation**<br>As at 1 August 2020<br>Depreciation eliminated on disposal<br>Charge for year<br>As at 31 July 2021<br>**Net book value**<br>As at 31 July 2021<br>As at 31 July 2020|**Leasehold**<br>**Improvements**<br>145,385<br>10,415<br>-<br>155,800<br>12,276<br>-<br>8,884<br>21,160<br>134,640<br>133,109|**Equipment**<br>**£**<br>10,150<br>549<br>-<br>10,699<br>3,815<br>-<br>2,181<br>5,996<br>4,703<br>6,335|**Motor**<br>**Vehicles**<br>**£**<br>11,700<br>-<br>(11,700)<br>-<br>6,687<br>(6,825)<br>138<br>-<br>-<br>5,013|**Total**<br>**£**<br>167,235<br>10,964<br>(11,700)|
|---|---|---|---|---|
|||||166,499|
|||||22,778<br>(6,825)<br>11,203|
|||||27,155|
|||||139,344|
|||||144,457|



## **9. DEBTORS** 

|Trade debtors<br>Prepayments and accrued income|**2021**<br>**£**<br>16,157<br>24,279<br>40,436|**2020**<br>**£**<br>32,469<br>24,141|
|---|---|---|
|||56,610|



Page 27 



## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021** 

## **10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Trade creditors<br>Accruals and deferred income<br>Other creditors<br>Taxation and social security|**2021**<br>**£**<br>2,659<br>29,206<br>72,235<br>14,687<br>118,787|**2020**<br>**£**<br>17,337<br>53,545<br>52,346<br>13,873|
|---|---|---|
|||137,101|



Deferred income comprises income received in advance.  Income deferred in the year relates to fees received in advance for August 2021 onwards. 

|Balance brought forward<br>Amount released during the year<br>Amount deferred in the year<br>Balance carried forward<br>**11.**<br>**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**<br>Accruals – rent free period|**2021**<br>**£**<br>28,505<br>(28,505)<br>3,354<br>3,354<br>**2021**<br>**£**<br>73,636|**2020**<br>**£**<br>24,558<br>(24,558)<br>28,505|
|---|---|---|
|||28,505|
|||**2020**<br>**£**<br>71,750|



Page 28 



## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021** 

## **12. FUNDS** 

## **a) Analysis of current year total funds** 

|Unrestricted general fund<br>Restricted funds<br>SEN funding|**Opening**<br>**balance**<br>**2020**<br>**£**<br>302,770<br>-<br>302,770|**Income**<br>**£**<br>1,328,953<br>67,826<br>1,396,779|**Expenditure**<br>**£**<br>(1,243,840)<br>(67,826)<br>(1,311,666)|**Closing**<br>**balance**<br>**2021**<br>**£**<br>387,883<br>-|
|---|---|---|---|---|
|||||387,883|



## **b) Analysis of prior year total funds** 

|Unrestricted general fund<br>Restricted funds<br>SEN funding<br>Donations|**Opening**<br>**balance**<br>**2019**<br>**£**<br>218,754<br>-<br>-<br>218,754|**Income**<br>**£**<br>1,260,631<br>50,178<br>2,000<br>1,312,809|**Expenditure**<br>**£**<br>(1,176,615)<br>(50,178)<br>(2,000)<br>(1,228,793)|**Closing**<br>**balance**<br>**2020**<br>**£**<br>302,770<br>-<br>-|
|---|---|---|---|---|
|||||302,770|



## **Special Educational Needs funding** 

This is funding received from the Cambridgeshire County Council in relation to the provision of education to children with special needs. 

Page 29 



## **LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021** 

## **13. RECONCILIATION OF NET DEBT** 

|Cash at bank and in hand|**As at 1 August**<br>**2020**<br>**£**<br>310,554<br>310,554|**Cashflows**<br>**£**<br>89,972<br>89,972|**As at 31 July**<br>**2021**<br>**£**<br>400,526|
|---|---|---|---|
||||400,526|



## **14. PENSIONS** 

The Charity makes contributions to a defined contribution stakeholder personal pension scheme on behalf of its employees. The charge to the Statement of Financial Activities represents those contributions payable by the Charity during the year. 

At the 31 July 2021 £6,536 was outstanding (2020: £3,115). The contributions paid into the scheme during the year totalled £21,627 (2020: £20,630). 

## **15. RELATED PARTY TRANSACTIONS** 

Two children of the employees of the school attended the school during the year, foregoing fees of £20,094 (2020: £13,560) 

No trustees were reimbursed expenses during the year (2020: £nil). There were no other related party transactions which took place during the year (2020: Nil). 

One Trustee donated £200 to the school in the year (2020: Nil). 

## **16. OPERATING LEASE COMMITMENTS** 

As at 31 July 2021 the school had commitments to making payments under non-cancellable operating leases as follows: 

|**Land and buildings**<br>Within one year<br>Between 2 and 5 years<br>Over 5 years<br>**Other**<br>Within one year<br>Between 2 and 5 years|**2021**<br>**£**<br>119,750<br>464,250<br>1,060,058<br>32,609<br>24,868|**2020**<br>**£**<br>105,000<br>455,000<br>1,165,058|
|---|---|---|
|||10,620<br>10,836|



Page 30 

