**Charity Registration No. 1175243**
**Company Registration No. 10539109 (England and Wales)**
## **THE SOUTHOVER PARTNERSHIP**
# **ANNUAL REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2020**
## **THE SOUTHOVER PARTNERSHIP**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|C Frankl|
|---|---|
||J March|
||M Nemko|
||R Abrahams|
||J Kay|
||J Moore|
|**Charity number**|1175243|
|**Company number**|10539109|
|**Registered office**|Kingsbury Manor|
||288 Kingsbury Road|
||Roe Green Park|
||London|
||NW9 9HA|
|**Website**|www.southoverpartnership.com|
|**PROFESSIONAL ADVISERS**||
|**Auditor**|Warner Wilde Limited|
||4 Marigold Drive|
||Bisley|
||Woking|
||Surrey|
||GU24 9SF|
|**Bankers**|Lloyds Bank Plc|
||39 Threadneedle Street|
||London|
||EC2R 8AU|
|**Solicitors**|Martin Shepherd Solicitors LLP|
||753 High Road|
||North Finchley|
||London|
||N12 8LG|
(Appointed 11 February 2020) (Appointed 22 May 2020) (Appointed 22 May 2020)
## **THE SOUTHOVER PARTNERSHIP**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 12|
|Statement of trustees' responsibilities|13|
|Independent auditor's report|14 - 16|
|Statement of financial activities|17|
|Balance sheet|18|
|Statement of cash flows|19|
|Notes to the financial statements|20 - 28|
## **Message from the Chair, Carol Frankl**
I am so proud of the way that Southover school, outreach services and the central support team have weathered the pandemic up until now. Staff have relentlessly focused on our children, young people and their families to ensure their education would be a consistent and positive experience through these devastating times.
We began the year with ambitious plans to build on the restructure of the previous year. Working with the executive headteacher, Dayo Okunlola, and his senior team, we initiated an ambitious programme of strategic development to meet the needs of more young people in London. These plans were temporarily overtaken by COVID-19 when we adapted our education provision to providing 100% of teaching and learning online for all our children and young people, all within a period of 2 weeks over the Easter holidays, 2020. We emerged into a virtual world where teachers and support staff anchored their pupils and families through regular contact and inspirational lessons using Microsoft Teams; achieving an average of 86% engagement. In June, we were able to see our students in person again. An unexpected consequence of this is our ‘blended learning’ offer will remain a staple of our provision into the future.
In the face of these challenges, the outcomes for our students at the end of the academic year were brilliant. The Trustees would like to congratulate the students again and thank all staff for maintaining such a high engagement in online learning to achieve such strong outcomes.
During the year, we said goodbye to two Trustees, Andrew Pereira and Anna Smakowska who contributed a great deal to our Board. They have been replaced by 3 new Trustees, Richard Abrahams, Joann Moore and Jeff Kay who have already brought a broad range of new skills, experience and expertise to strengthen our board. They bring exceptional expertise from the commercial, finance & governance and SEND sectors
The Trustee subcommittees, created last year, have played a crucial role in challenging senior leaders to improve our offer and, latterly, in their implementation of the ever-evolving government COVID guidance documents, adjusting provision to meet new requirements. The new Board is already working together as a forceful team to support all aspects of Southover’s work.
We have learned so many lessons from the events of this extraordinary year: especially the importance of communication and planning at all levels and the ability to adapt at short notice. From September 2020, we picked up our work with the 5-year strategic plan and are looking forward to agreeing an implementation plan over the coming year.
Finally, and most importantly, the Trustees offer condolences to those families of staff and students who lost loved ones and we wish a speedy recovery for those who have fallen ill.
**Carol Frankl, Chair of Trustees, September 2019**
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## **Summary and purpose of the charity**
The Southover Partnership charity was registered on October 29[th] 2017 & established on January 1[st] 2018. The charity is also a company limited by guarantee.
## **Objectives and activities**
The objects for which the Charity is established are the advancement of education in the United Kingdom for the public benefit of children with special educational needs between the ages of 5 and 19:
- (i) by providing educational services of all types both within schools of all types and at home;
- (ii) by training teachers and educationalists in a range of specialist skills and techniques; and
- (iii) in such other ways as the Directors see fit from time to time.
## **Our aims**
The Southover Partnership is a charity that provides education for children and young people with special educational needs in our own school and, through our thriving Outreach Service which provides tailored one-toone and group tuition in mainstream schools or at home commissioned by schools or local authorities. We work with children between the ages of 5-19. Our school aims to meet the needs of 11-19 year olds with autism, complex SEND and social, emotional and mental health issues. The school is based on three School Sites, Hutton Grove in N12, Southgate in N14 and Kingsbury in NW9, and the outreach services work across 12 Greater London Authorities.
## **Our values**
The Trustees worked together to further refine the vision and values of the new charity in 2020, and agreed they will seek to ensure the Southover Partnership is committed to inclusion; and will
- Provide **relentless care** ; where staff and students feel safe and secure and trust each other, in an environment of consistent support
- Provide **leadership** which understands when and how to make a change; encourages challenge and development in the organisation; and is comfortable with being able to ask questions and to challenge practice
- Make a positive **impact** on every child and young person who comes into contact with the Partnership
- Enable children and young people to achieve the best **outcomes** from their education health care plans, social and emotional development and academic studies.
- Provide an **experience** which will be transformational and inspirational and aspirational for others
- Take **pride** in its work and achievements.
- All staff to feel **proud** to work for Southover, feel valued and supported, and know staff views are listened to.
- Enable everyone associated with the organisation to make a contribution and everyone understands the **difference** s/he makes
- Work in close **partnership** with families, children and young people, schools, local agencies and the community; consulting and listening closely at all times
- Use all its **resources efficiently and effectively** and seek to increase the pool of resources
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## **Report of the Executive Headteacher, Dayo Okunlola**
I am as proud as Carol of the way that Southover school, outreach services and the central support team have weathered the COVID-19 pandemic up until now and in particular of the exceptionally high level of provision and support provided to our students and families through lockdown and beyond.
The school and outreach have been able to provide full curriculum access including therapies, as well as support for families via our virtual learning platform with an average engagement of 86%. Staff have been outstandingly cooperative, dedicated and professional throughout, while often coping with personal experiences of loss and trauma. I thank them all.
Regardless of COVID, 2019-20 has been another successful year. The school had 37 pupils aged 11 - 19 on roll supported by 60 teaching and learning staff, while the Outreach Service supported 40 pupils in Education Other Than at School as well as providing staff support in 8 mainstream schools. We were able to introduce blended, directed & appropriate remote and face to face learning across the organisation to all our pupils at speed.
Outcomes once again confirmed Ofsted’s judgement that: “ _Pupils’ outcomes are outstanding. From typically low starting points, pupils make very strong progress over time. This is especially impressive considering the range of complex needs the majority of pupils have, and the disrupted educational histories that most have experienced”_
## **GCSE English and Mathematics National Comparison 2020:**
||Percentage of
pupils who
achieved grade 9-5
(English and maths)|Percentage of
pupils who
achieved grade 9-4
(English and maths)|Percentage of
pupils who
achieved any
passes at GCSE or
equivalent
(all subjects)|
|---|---|---|---|
|**Southover Partnership School**|**30**|**46**|**100**|
|All state-funded special schools|0.4|1.2|28.1|
|Alternative provision including
academy and free school alternative
provision and pupil referral units|1.6|4.5|58.1|
|**Non-maintained special schools**|**2.4**|**5.5**|**38.6**|
|**All special schools**|1.0|2.4|33.2|
## **Other Results**
Accreditations were also gained through Cambridge Technical Certificate (Level 3), Cambridge National Award, Btec Levels 1 and 2, Advanced Diplomas, Functional Skills Levels 1 and 2, NCFE qualifications, City & Guilds, Arts Council Award and Entry Level qualifications.
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We are especially proud that, once again, all leavers from the school moved on to further education or training. 100 % of students supported by the Outreach Service on home tuition made a successful transition into mainstream schools or our school and are still on roll in these settings.
## **Updated priorities**
Typically, pupils placed with us have had significantly disrupted educational histories **-** our aim is to inspire and empower every young person to flourish. To achieve this,
- Our work at Southover is underpinned by the principles of attachment theory.
- Our intent is to provide a curriculum and education experience that aims to:
- ➢ _Reset for security_ ,
- ➢ _Recover for wellbeing,_
- ➢ _Rebuild for learning_ and
- ➢ _Relaunch for successful adulthood_
In response to our experience of provision under COVID-19 circumstances, there will be many students who have required a phased re-entry and the initial focus for all students will be on
- establishing emotional confidence and resilience
- identifying gaps resulting from the lockdown and adjusting personalised curricula to bridge the gaps
- re-energising our work on the Development Plan to include positives from remote learning
- building a Strategic Plan – work will continue while taking implications of managing COVID into account
- ensuring OFSTED and Independent Schools Standards compliance and readiness does not slip.
These priorities will be approached with the wellbeing of the Senior Leadership Team and staff in mind as they remain our greatest asset.
I am confident that between us, the Trustees, staff, our external partners and the families we work with, we will achieve our aims and Southover will continue as a leader in the field of SEN and celebrated for outstanding outcomes based on our bedrock of attachment theory, relentless care and challenge. We are committed to sustaining Ofsted’s assertion that “Leaders relentlessly focus on ensuring that pupils are at the centre of everything that happens at the school. As a result, they have ensured that the quality of provision is outstanding”.
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## **A selection of what others who know us well say about us**
## **Southover Pupils**
‘’To all my former teachers: Thank you for everything that you have done for me, I know that full well if I hadn't listened to any of you or respected you, I wouldn't be sitting in this chair at this college with an amazing course and job. Thank you all, you have changed me for the better.’’
“Thank you so much for everything you have done to get me here, thank you for all your help and support for me and my family.”
“I don’t know what I would have done without the Southover Partnership School – I would never have achieved what I have.”
‘’They will always ask how your day is, and if you are OK, and if you are not OK then I know I can talk to them, because they understand and they don’t really judge you… they are just, like, if you are doing this, then you may need help doing this, and they will help you a lot. It’s made me more confident in loads of things, and it’s helped me also with my grades. But also, it’s helped me to become like… I talk to more people; I get involved more. Like I wasn’t so confident before. I might have seemed it, but I wasn’t so confident.’’
## **Southover Parents**
‘’I don’t know how you managed to organise everything so quickly to ensure the students were well supported but I don’t feel you could have done anything any better than what you did. ( _Student_ ) was happy to return in September and I don’t feel his education suffered either.
‘’I cannot actually put in to words how much of a difference you made or how grateful I am but I thought I would try.’’
‘’I hope the Trust( _ees_ ) know how special each and every member of staff is and how much you all did in such a small amount of time.’’[1]
‘’ ( _Member of staff_ ) doesn't miss a trick and always has interesting, busy and constructive days planned and her observations are keen and she, like all of the people involved in ( _student's_ ) life at Southover, approach their work with ( _student_ ) with openness and understanding and compassion. I cannot stress enough what a difference that makes to ( _student’s_ ) experience of school and how reassuring it is for me as her
mum. Previously, ( _student_ ) has been viewed as a problem and therefore, often left on the periphery, often ignored completely and very rarely treated with any understanding. Rather, she has been made to feel at fault and that any differences just equal insurmountable barriers to any learning and fulfilment.
> 1 We do!
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Already at Southover, differences are acknowledged and incorporated into the everyday alongside efforts to raise awareness in the students that there are behaviours and rules that everyone needs to try their best to achieve and respect, to help not only themselves, but also other people who they are sharing their environment with.
However, now that ( _student_ ) is fortunate enough to be a part of Southover, I feel confident that she won't be ignored or abandoned during trickier times and I feel certain that the security and consistency that this situation will nurture within ( _student_ ), will be key to her general development and wellbeing and chances of a more independent and manageable future.’’
‘’He has a diagnosis of ADHD … He does have some concentration issues but that was OK in mainstream, but he developed an anxiety disorder so ...sometimes he can be very anxious about coming into school and can be very difficult …. The school at various points have been very good …they will even come to the house, or meet him at a coffee shop or something, so he’s got that time to lower his anxiety before he gets in, and he always wants to come to school, which I think is important.’’
## **Our Partners**
“The seminar was great; attendance was in a small group which worked well as participants were able to talk about their own children in detail with Carol, who was extremely knowledgeable and very helpful with advice and information for the group.”
“Huge thanks for all your fabulous work. You’ve made a real difference to A’s learning.” _SENCo_
“This is the only school where this pupil has settled and has made a difference to her.” _Social Worker_
“I would like to take the time to tell you about the fabulous teaching assistant you provided to ( _school_ ). The TA is brilliant at his job, very intuitive and calm. The pupil is now calmer, using more verbal language and responding to positively to others. Today I observed the pupil take part in a phonics lesson for the first time, a very special moment for all the staff”
_Specialist Autism Support Worker_
‘’The staff demonstrate warm and friendly approachable interactions with the students whilst at the same time providing them with boundaries and rules.
Southover Partnership is always able accommodate our requests even when given short notice. They provide a service of a very high standard and they have always managed to meet the students' and their family’s needs both emotional, academically and psychologically
I have no hesitation in providing a testimonial for them.”
_Specialist Speech and Language Therapist_
“I keep on thinking about the great work of students, commitment of staff and also the vision to provide holistic education. The Southover Partnership is a unique project; please extend my congratulations to Carol
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Frankl and to the staff.”
_Councillor Barnet Council_
“A fab course with lots of participating to see strategies come to life. I can really see how this would work in the classroom with a range of ages.”
_Circle Time training participant_
“Training on both behaviour and SEN was brilliant. Every aspect taught is useful and interesting to help me interact with pupils and teachers alike in any school.”
_Teaching Assistant training participant_
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Trustees’ report**
In setting our objectives and planning our activities our Trustees have given careful consideration to the Charity Commission’s public benefit guidance.
## **Trustee Board**
The Memorandum and Articles provide for a minimum of three and maximum of seven Trustees. All Trustees are appointed by the Chair, in full consultation with fellow Trustees. The Trustee Board has built further its mix of governance, commercial, financial, fundraising and, most importantly, educational skills and experience & all new members have fast become energetic and active participants.
Trustees give freely of their time and expertise and no other remuneration or expenses were paid in the year. No Trustee or person connected with a Trustee received any benefit from the Charity.
## **Organisational structure**
The Trustees determine the general policy of the organisation while the day to day running of the Charity is delegated to the Executive Head, supported by senior staff. The Executive Head undertakes the key leadership role overseeing educational, pastoral and business functions in consultation with the senior staff. The day to day management of both the School and the Outreach Service is undertaken within the policies and procedures approved by the Trustees. The Board has established two sub-committees, with clear terms of reference which focus on quality of education & finance and governance. Trustees meet as a Board four times per year as a minimum. The Chair undertakes individual Trustee appraisal and seeks feedback annually.
## **Impact of Trustees**
The Trustee Board is determined to ensure the Partnership is rated outstanding overall and understand their own performance is key to achieving this. The School’s Ofsted in January 2018 rated the school as ‘outstanding’ in all areas except for ‘good’ in governance, noting, due to having only been in post a few weeks, that:
_‘The new Trustees were ready to undertake duties in supporting, advising and challenging leaders to improve the school further, but their work has yet to show a demonstrable impact’._
7
The Trustees have made this a key focus: asking for and receiving a timetable of reports with an emphasis on outcomes for pupils against expected progress. In addition to holding regular meetings during the year, the Board has come together for longer periods to review its work and to plan future strategy, and this will continue as we develop a 5-year plan in 2020 led by a newly created strategy group. Trustees share information gathered on site visits. Trustees belong to a variety of organisations which support charity Trustees and school governors as well as drawing on their own professional networks. Training is undertaken and advice sought depending on current priorities and keeping an eye on the horizon and national policy developments. Trustees have agreed a code of conduct to make our Board more robust and individual Trustees more accountable.
A review of policies and their implementation across all aspects of the Partnership is underway to centralise and standardise most aspects including HR, pay, job descriptions, appraisal, admissions, new data protection requirements and safeguarding. Financial reporting and practice have been overhauled with a focus on tight procedural controls, robust budgets and detailed management information alongside setting and reviewing the reserves policy.
Early identification of the urgent need to restructure the senior leadership is now long completed and the team is growing yet again in confidence and expertise.
As a result, staff responsibilities in providing for students supported and educated by the school and Southover Outreach Service are on a much sounder footing. Financial risks are better defined and planned for in a changing funding situation amongst Local Authorities, which impacts on all aspects of the Southover Partnership. This will enhance its already positive reputation and allow for consolidation. More extensive fundraising for the charity is an ongoing discussion as the school, students and their families would benefit from further practical support and access to broader educational experiences.
## **Pay and remuneration of senior staff**
The pay and remuneration of the Executive Headteacher and Head of Finance and Business Administration is set by the Trustees. A number of criteria are used in setting pay:
- nature of the role and responsibilities
- competitor salaries in the region
- the sector average salary for comparable positions
- trends in pay
- the need to ensure the organisation is financially prudent
## **The principal risks facing the charity**
## **Risk management**
The Trustees now assess risk at each meeting, and in further detail at sub-committee meetings & have identified the following principal risks and challenges facing The Southover Partnership. They are satisfied that the major risks identified have been adequately mitigated where necessary.
## **Covid 19**
At the onset of the Covid 19 pandemic, a sub group of Trustees was established to undertake weekly online monitoring calls which are ongoing but now less regular. The Executive Headteacher submitted reports on a range of issues including safeguarding, pupil engagement, staffing, financial management, preparation for return after lockdown.
8
## **Financial landscape**
Local authorities use the high needs budget (HNB) to provide the most appropriate support package for an individual with special educational needs (SEND)and disability in a range of settings, taking account of parental and student choice. High needs funding is also intended to support good quality alternative provision for pupils who cannot receive their education in school.
The Government introduced a National Funding Formula for High Needs from 2018-19 which had a significant impact on local authorities’ HNB. There is a significant and growing shortfall within the HNB across London. Despite the government allocating additional SEND funding, the pressure on the LA High Needs Blocks are projected to continue. This means LAs will be looking to reduce their expenditure on HNF and look for more competitive providers.
Our ability to continue is reliant on funding per pupil. The Southover Partnership needs to be able to demonstrate to local authorities, others schools and parents that the provision provides good value for money as well as outstanding pupil outcomes. The charity needs to be able to respond to the changing needs of pupils by adapting provision where necessary. This includes maintaining and developing facilities, staff training, and investing in or expanding the curriculum offer.
## **Financial risk**
The key risks are changes to government policy on high needs funding and the increasing cost of employing staff at a time when income from funded places is forecast to be static. It is unclear how the new Government will impact on funding of services for SEND pupils. Financial planning is focused on maintaining the breadth and quality of future work in the context of diminishing budgets. Trustees have also given due consideration to the risks associated with financial mismanagement and/or compliance failures.
## **Failures in governance and/or management**
Trustees have completed their review of the leadership structure to strengthen its effectiveness. We will continue to review and ensure that appropriate measures are in place to mitigate these risks.
## **Reputational risk**
The continuing success of The Southover Partnership depends on maintaining the highest educational standards. Trustees are clearly focused on monitoring and reviewing the achievement and progress of children. Trustees continue to give due consideration to other aspects of the Partnership’s activities where there could be a reputational risk, including behaviour management, safeguarding, health and safety etc. The Southover Partnership works with external improvement partners in order to develop the provision further and aspire to achieve ‘outstanding’ as outlined in the Ofsted inspection framework.
## **Safeguarding and child protection risks**
Trustees continue to ensure that the highest standards are maintained in the selection and monitoring of staff and volunteers; the operation of child protection polices in the school, the Outreach Service & in training and support, in order to protect the vulnerable young people in its care. The Chair and others undertake regular spot checks of all aspects and every Trustee and member of staff has received training in safeguarding.
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## **Significant changes in staff**
Trustees have reviewed arrangements for recruitment and the development of existing staff to minimise the risk resulting from major changes in key staff.
## **Financial review**
The year 2020 presented many financial challenges for all types of organisations. However, we are pleased to report that with hard work and determination our second full year of charity financial statements for the academic year to 31[st] August 2020 show a small surplus of £13,398. Our total income for the year was £2,872,138 (2019: £3,275,461 – a decrease of 12%) with expenditure of £2,858,740 (2019: £3,193,766 – a decrease of 10%) giving a net income after depreciation of £13,398 (2019: £81,695 – a decrease of 84%).
The main sources of income continue to be fees for the School, Home Tuition (HT) and Support in Schools (SiS), accounting for 68%, 20% and 11% (2019: 60%, 25% and 14%) of the organisation’s income respectively. The income from the Outreach services (HT & SiS combined) declined as a direct result of the COVID-19 pandemic with many of the schools we work with unable to continue using our services as they were forced to close to the majority of students. We were also unable to perform many of the necessary steps in order to take on new HT students and this resulted in a slowdown in service. However, we were able to design & implement, at pace, a full remote learning package utilising Microsoft Teams and this has now become a real alternative and brings the potential to expand the service geographically.
During the year, expenditure on new computer equipment totalled £5,772 and in addition we were fortunate to have three laptops allocated to us from Brent LA for students to use over lockdown, a total of £1,797, which has been shown as a gift in kind.
Once again, we are extremely grateful for all donations made to the charity this year. In such difficult times it is wonderful to feel supported and appreciated for the work that we do with our young people.
Using the funding obtained from the British Council as part of their Connecting Classrooms, Southover partnered with a school in Ghana and this trip went ahead in February 2020. Unfortunately, we were unable to reciprocate during the year but are looking forward to welcoming our partner school as soon as we can. In addition, this year we received a grant from the Art Society which was used to purchase cameras for an ongoing art project.
The School continues to occupy three main sites, Finchley Progressive Synagogue on Hutton Grove, Southgate Progressive Synagogue and Kingsbury Manor. We invested just over £8,000 in repairs to Kingsbury Manor over the year to ensure the safety and reliability of the building for the future.
During the year we were able to reduce a number of costs, including the rent at Finchley Progressive Synagogue and Southgate Progressive Synagogue. They both supported us tremendously over the lockdown period, for which an enormous thank you. We were also able, with the help of Fair Contracts Associates who negotiated on our behalf, to bring to an end a costly photocopier contract, a big thank you to Chas. There is no doubt that these reductions in overheads allowed Southover to end the year in a stable position despite the challenges faced.
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## **Income 2019/2020 £2,872,138**
**----- Start of picture text -----**
0% 1%
11%
20%
68%
**----- End of picture text -----**
Southover School - £1,955,311 Home Tuition - £565,197 Support In Schools - £311,752 Charity Donations - £12,225
Other Income - £27,653
**----- Start of picture text -----**
1%
14%
25%
60%
**----- End of picture text -----**
## **Income 2018/2019 £3,275,461**
Southover School - £1,967,880 Home Tuition - £827,712 Support In Schools - £440,258 Charity Donations - £39,611
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The
Southover
Partnership
Resetwes •nd finanfial health
Free reserves exclude restricted funds. designated fundsand any parts of the unrestrKted funds not readilv
available such as tangible assets. The SouthoverPartnership holdsfree reserNESto provide a working balan to
mitigate against the risks from unexpected shortterm increases inexpenditure ora downturn in student
numbers and to plan for f uture developments in line with the strategic plan.
The Trustee5 regular reviewthe finan$. budgetsand spend against budget as part of the governance of the
organisation.
The Trustees monitorthe free reserves and reviewthe risk registerat IeaStterm as part of the Finance and
Governan Committeeaswell as the full Board of Tnjstees, to safeguard against any reduction in income or
unexpected increase in costs. As a minimum the Trusteesaim to have a balance in Teserves equivalentt? 3
months runningcosts.
The Trustees are satisfied that existingcash flows a sufficientto meetanyanticipated increases in costs.
The Pension liability has been reported within the accounts in accordan wrth accounting standard FRS 17. AII
staff are auto-enrolled into a scheme which is operated by NEST.
CHARifiTrusTEES
The Charity Trustees are the dirertorsof The Southover Partnership. New Trustees are appointed by the existing
Board of Tnjstees. All Twstees have seNed throughoutthe yearexcemwhere indicated:
C Frankl (Chairl
l H March MBE (Vice Chairl
M TNemko
A C A Pereira Iresigned 11 February20201
A M Smakowska (resigned I5ju 20201
M A Timlin Iresigned 4November 20191
R A D Abrahams lappointed 11 February20201
J S Moore (appointed 22 May20201
J B Kay lappointed 22 May 20201
None ofthe Trustees has any beneficial interest in the company. All of the Trustee5 are members of the
companyond guarantee tocontribute £1 in the eventof a winding up.
Each of the Trustee5 has confirmed that there is no inforniationof which they are aware which is relevantto the
audit. but of which the auditor is unaware. They have furtherconfirmedthatthey have taken appropriate steps
to identify such relevant infomation and establish that the auditor 15 aware of suth information.
The Trustees, reportwas approved bythe Board of Trustees on.....
Signed on behalfof the Board..
2oLI
Carol Frankl (Chairl
Date..
## **THE SOUTHOVER PARTNERSHIP**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
The trustees, who are also the directors of The Southover Partnership for the purpose 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 which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
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;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
- 13 -
## **THE SOUTHOVER PARTNERSHIP**
## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE SOUTHOVER PARTNERSHIP**
## **Opinion**
We have audited the financial statements of The Southover Partnership (the ‘charity’) for the year ended 31 August 2020 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
- In our opinion, the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 August 2020 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the trustees has not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
## **Other information**
The trustees is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
- 14 -
## **THE SOUTHOVER PARTNERSHIP**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE SOUTHOVER PARTNERSHIP**
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the trustees' r eport; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the s tatement of trustees' r esponsibilities, the trustees, who are also the directors of the charity for the purpose of company law, is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees is responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
- 15 -
THE SOUTHOVER PARTNERSHIP
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE SOUTHOVER PARTNERSHIP
U$0 of our rnport
This report is made solety lo the ¢harity's trustees. as a body, in accordance with part 4 of the Charf(ies
IAccounls and Reports} Regulations 2008. Our audit %wrk has been undertaken $0 that we might stste lo the
¢harty'5 tru5tee5 those matters %%E are requifed to state to them in an audrtors, report and for no other purpose.
To the fvllest extent permrtted by law. we do not axept or assume responsibilty to anyone other than the charity
and the d)arity's trustees as a body, for our audrt *rk, for this report. or for the opinions we have fornied.
t4k FAJ
2011
Wamèr Wlld• Llmlt•d
Chart•rèd Cèrtified Ac¢ountaTrts
ststutory Audilor
4 Marigold Drive
Bisley
Vvokn'ng
Surrey
GU24 9SF
Wamer Wilde Limited is eligible frjr apwntment as auditor of the tharity by virtue of rts eligitmlity for appointment
as auditor of a company under of section 1212 of the Companies Act 2006
16-
## **THE SOUTHOVER PARTNERSHIP**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
|**Unrestricted**
**funds**
**2020**
**Notes**
**£**
**Income and endowments from:**
Donations and legacies
**3**
11,625
Charitable activities
**4**
2,832,860
Other income
**5**
27,653
**Total income**
2,872,138
**Expenditure on:**
Charitable activities
**6**
2,858,740
**Net income for the year/**
**Net movement in funds**
13,398
Fund balances at 1 September 2019
416,114
**Fund balances at 31 August 2020**
429,512|Total
period
2019
**£**
39,611
3,233,550
2,300
3,275,461
3,193,766
81,695
334,419
416,114|
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 17 -
THE SOUTHOVER PARTNERSHIP
BALANCE SHEET
ASAT31 AUGUST2020
2019
Flxod assots
Tangibl8 assets
Current assèts
Debtor5
Cash at bank and in hand
10
138.256
170.419
11
723.959
2S7.278
528.055
288.164
981,237
crlIorS.. amounts lalllng du• tthin
one y•ar
816.219
12
(689.981)
1570,5241
Net current assets
291.256
245,695
Total assets loss current Ilabllitios
429.512
416.114
Incomo lunds
Unrestiicled fund8
429.512
416.114
429,512
416.114
The company is enli1 to th8 exempti) tr{ the audit requIrn1 containod in so¢lion 477 of the C(xnpania$
Act 2006. lor the ygar end8d 31 ALWt 2020. an a11¢ has b8en carrigd ¢)Jt undgr section 144 of the
Charities Act 2011.
The trustees aCknedge$ h8r responsibifities for *nsurir¥J Ihat the ch8rity keep5 acc(¥Jnting rec(Jrd$ whith
omp¢y wth section 386 of the Act and for preparing fineal slatements whth gN8 8 true and fair view ol the
ststè of affairs of the o)mpany as at the end of the financ4a year and of its IrmIrj $ourCeS and application of
resources. induding its infx)me arnj exFend4ture. for the financial year in a(xx)rdarth with thè requirements of
sections 394 and 395 and vthith otherwise uynpty wilh the requirements of the Companies Act ZCM)6 relah.ng lo
nanoal statements. $0 far as api(zÈ8 to Ihe CL¥npany.
member5 have rKJI required thè (x)mpany lo obtain an audrt of its finan(yal slalements under the
requiremenls of the Gompan*s Act 21Th. for the yèar in queslM)n in accordance wjlh sec1m 478.
These finantyal statements have beon twepared in ac0Nd th wovision5 to compan
Subject to the small compan¢es regim.
finanual Stslemts *Ere aFf*ov&J by Truste8s on ....... ......... .....
M NorTrko
Tru
Company Reglstra¢lon 10539109
## **THE SOUTHOVER PARTNERSHIP**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
|**Notes**
**Cash flows from operating activities**
Cash (absorbed by)/generated from
operations
**17**
**Investing activities**
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Net cash used in financing activities**
**Net (decrease)/increase in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2020**
**£**
(6,491)|**£**
(24,396)
(6,491)
-
(30,887)
288,164
257,278|**2019**
**£**
(55,955)|**£**
116,201
(55,955)
-
60,246
227,917
288,164|
|---|---|---|---|---|
- 19 -
**THE SOUTHOVER PARTNERSHIP**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **1 Accounting policies**
## **Charity information**
The Southover Partnership is a private company limited by guarantee incorporated in England and Wales. The registered office is Kingsbury Manor, 288 Kingsbury Road, Roe Green Park, London, NW9 9HA.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.5 Expenditure**
Liabilities are recognised when either a legal or constructive obligation is identified.
Expenses include VAT where applicable as the company cannot reclaim it.
- 20 -
## **THE SOUTHOVER PARTNERSHIP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **1 Accounting policies**
## **(Continued)**
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings Over the life of the lease Fixtures and fittings 10% straight line Computers 3 years straight line Motor vehicles 3years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 21 -
## **THE SOUTHOVER PARTNERSHIP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.10 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.11 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount 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 these 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2020**|2019|
||**£**|£|
|Donations and gifts|11,625|39,611|
- 22 -
## **THE SOUTHOVER PARTNERSHIP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **4 Charitable activities**
|||**2020**|
**2019**|
|---|---|---|---|
|||**£**|
**£**|
||Sales within charitable activities|2,832,860|
3,233,550|
|**5**|**Other income**|||
|||**Unrestricted**|Unrestricted|
|||**funds**|funds|
|||**2020**|2019|
|||**£**|£|
||Other income|27,653|2,300|
|6|**Charitable activities**|||
||**Charitable**|
**Charitable**|
|---|---|---|
||**Expenditure**|
**Expenditure**|
||**2020**|
**2019**|
||**£**|
**£**|
|Staff costs|2,111,433|
2,278,026|
|Depreciation and impairment|38,653|
31,153|
|Staff costs and DBS|37,946|
86,754|
|Student educational materials, therapy and other costs|139,745|
121,048|
|Premises costs|163,877|
184,597|
|Software, licences and website costs|39,257|
43,778|
|Exam costs|3,785|
5,838|
|Legal fees|14,761|
5,574|
|Insurances|30,101|
28,498|
|Consultants, agency team members etc.|-|
68,589|
|Bad debts|-|
17,943|
||2,579,558|
2,871,798|
|Share of support costs (see note 7)|267,908|
309,301|
|Share of governance costs (see note 7)|11,274|
12,667|
||2,858,740|
3,193,766|
- 23 -
## **THE SOUTHOVER PARTNERSHIP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **7 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Staff costs
219,212
-
Office and administrative
costs
48,095
-
Marketing and
advertising
601
-
Trustee meeting costs
-
1,094
Audit and accounts
preparation costs
-
7,470
Charity set up costs
-
2,710
267,908
11,274
Analysed between
Charitable activities
267,908
11,274|**2020**
**£**
219,212
48,095
601
1,094
7,470
2,710
279,182
279,182|Support
costs
Governance
costs
£
£
228,233
-
72,449
-
8,619
-
-
269
-
4,400
-
7,998
309,301
12,667
309,301
12,667|2019
£
228,233
72,449
8,619
269
4,400
7,998
321,968
321,968|
|---|---|---|---|
Governance costs includes payments to the auditors of £ 7,470 accrued for audit and accounts preparation fees including irrecoverable VAT .
## **8 Trustees**
None (2019: One) of the trustees (or any persons connected with them) received remuneration of nil (2019: £6,667) during the year, there were no other benefits from the charity during the year.
- 24 -
## **THE SOUTHOVER PARTNERSHIP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **9 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
|Administration and support
Teaching
Leadership
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2020**
**Number**
6
99
7
112
**2020**
**£**
2,125,019
164,094
41,532
2,330,645|**2019**
**Number**
6
126
10
142
**2019**
**£**
2,304,166
169,430
32,663
2,506,259|
|---|---|---|
Key Management Personnel comprises the Senior Management Team, the total cost of Key Management Personnel for the year ended 31 August 2020 was £375,604 (2019: £371,372) including employer's national insurance and pension contributions.
Redundancy payments totalling nil (2019: £41,351) were made during the year.
The number of employees whose annual remuneration was £60,000 or more were:
||||**2020**|**2019**|
|---|---|---|---|---|
||||**Number**|**Number**|
|70,001|-|80,000|1|1|
Contributions totalling £ 1,018 (2019: £nil) were made to defined contribution pension schemes on behalf of employees whose emoluments exceed £60,000.
- 25 -
## **THE SOUTHOVER PARTNERSHIP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
|**10**
**Tangible fixed assets**
**Leasehold**
**land and**
**buildings**
**Fixtures and**
**fittings**
**Computers Motor vehicles**
**£**
**£**
**£**
**£**
**Cost**
At 1 September 2019
182,992
66,295
62,985
67,514
Additions
-
719
5,772
-
Disposals
-
-
(14,010)
-
At 31 August 2020
182,992
67,014
54,747
67,514
**Depreciation and impairment**
At 1 September 2019
69,775
40,899
53,956
44,737
Depreciation charged in the year
19,663
4,384
6,774
7,833
Eliminated in respect of disposals
-
-
(14,010)
-
At 31 August 2020
89,438
45,283
46,720
52,570
**Carrying amount**
At 31 August 2020
93,554
21,731
8,027
14,944
At 31 August 2019
113,217
25,396
9,029
22,777|**Total**
**£**
379,786
6,491
(14,010)
372,267
209,367
38,654
(14,010)
234,011
138,256
170,419|
|---|---|
## **11 Debtors**
|**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**2020**
**£**
680,418
1,373
42,168
723,959|**2019**
**£**
466,043
3,955
58,057
528,055|
|---|---|---|
- 26 -
## **THE SOUTHOVER PARTNERSHIP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **12 Creditors: amounts falling due within one year**
|**Notes**
Other taxation and social security
Deferred income
**13**
Trade creditors
Other creditors
Accruals
**13**
**Deferred income**
Other deferred income|**2020**
**£**
31,933
611,003
19,136
6,137
21,772
689,981
**2020**
**£**
611,003|**2019**
**£**
31,203
480,403
12,263
17,959
28,696
570,524
**2019**
**£**
480,403|
|---|---|---|
## **14 Retirement benefit schemes**
## **Defined contribution schemes**
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £41,532 (2019 - £32,663).
## **15 Operating lease commitments**
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
|Within one year
Between two and five years
In over five years|**2020**
**£**
58,034
163,005
346,667
567,706|**2019**
**£**
94,645
361,351
386,667
842,663|
|---|---|---|
## **16 Related party transactions**
There were no disclosable related party transactions during the year (2019 - none).
- 27 -
## **THE SOUTHOVER PARTNERSHIP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
|**17**|**Cash generated from operations**|**2020**|**2019**|
|---|---|---|---|
|||**£**|**£**|
||Surplus for the year|13,398|81,695|
||Adjustments for:|||
||Depreciation and impairment of tangible fixed assets|38,653|31,153|
||Movements in working capital:|||
||(Increase)/decrease in debtors|(195,904)|244,278|
||(Decrease) in creditors|(11,143)|(50,449)|
||Increase/(decrease) in deferred income|130,600|(190,476)|
||**Cash (absorbed by)/generated from operations**|(24,396)|116,201|
|18|**Analysis of changes in net funds**|||
||The charity had no debt during the year.|||
- 28 -