Charlty rggl$tration number 1175243 Company reglstrntlon number 10539109 IEngland and Wales) THE SOUTHOVER PARTNERSHIP ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 THE SOUTHOVER PARTNERSHIP LEGALAND ADMINISTRATIVE INFORMATION Tn￿lee$ C Frankl J March JKay J Moore C Sungu J Owen E Samarasingh8 H Stephens THChia (Appolnted 26 May 20211 (Appointed 1 February 2022) (Appointed 16 November 2021) (Appointed 16 November 2021) {Appointed 16 November 2021) Charlty number 1175243 Cornpany numb•r 10539109 R8gistèr•d office Klngsbury Manor 288 Kingsbury Road Roe Green Park London Nwg 9HA Webslte www.southoverpartnership.wrn PROFESSIONAL ADVISERS Audltor Wamer Wilde Limited 4 Marigold Drive Bisley Woking Surrey GU24 9SF Bankors Lloyds Bank PIC 39 Threadn8edle Street London EC2R 8AU Solicltors Martin Shepherd Solicitors LLP 753 High Road North Finchley London N128LG THE SOUTHOVER PARTNERSHIP CONTENTS Page Messagg from thg Chair. Carol Frankl Trustees, report 3-11 statement of trustees, responsibililies 12 Independent 8udltorfs report 13-14 statement of ffinandal activitie5 15 Balance sheet 16 Statement of Gash flows 17 Notes to the financlal statements 18-26 The Southover Partnership Message from the Chalr. Carol Frankl The Southover Partnership has weathered a second challenging year and has tocussed on developlng our chIld￿n and young people to learn and grow through lock downs and significant periods of remote teaching and learning. All our staff have again relentlessly focussed on providing conslstency and support to them and their familie5. Our students came back to face-to-fate teaching at the beginnlng of the academicyear. The staff and students were happyto be back on school premises, learning alongside each other once again. However. the pandemic worsened, & the school shut in December and all learning was transferred to on line learning. Once again. engagement was high uslng Microsoft Teams and our students, learning continued unabated. The 5tudent5 returned to school afterthe February half term and remained throughout the remainder of the academic year. despite high levels of staff and student absence. Trustees were able to support the work of the school in many ways e.g., by raising funds to purchase laptops and internet access for our students in school137%1 who would otherwlse have no aC￿S to onllne learning. We thank the members of IX who responded to our call for funds within 24 hours. This has been a year of adaptatlon to ever changing and unpredictable circumstances in which the senior leadership team, led so ably by Dr Dayo Okunlola, worked very effectively with the trustee board to achleve yet again, outstanding outcomes for our students. Outreach continued to face challenges as successive lockdowns completely stopped the work of tutors and support staff teaching in schools and pupils. homes. As the new academic year unfolded so opportunities to resume this vital work supportlng children and young people unable to attend School, or whose complex needs required additional support in thelr school. opened up. Outreach continues to develop provision as educational opportunities reopen. Durlng thls time, the trustee board has continued to grow and change. I thank them all. At the end of the academic year. Terry Nemko retired as our long-term treasurer and who had painstakingly introduced sound SV5tems and gentle advice and was replaced by Vandita Chowdhury, another qualified accountant. We said goodbye to Richard Abrahams who sadly couldn't continue Christiane Sunghu also joined the board, diversifying our skills base to include experience in law. These appointment5 lowered the age profile of the board while Increasing its cultural diversity. At our annual summer strategic planning meeting, the board agreed to alter our Memorandum and Articles of Association to increase the number of trustees appointed from 7 to 12, with the objective of achieving 10 trustees in the forthcoming year. Thi5 move will enable the board to carry out our duties and statutory responslbilities more efficiently and effectively with a broader skills and experience mix. The subcommittee structure was strengthened to include a strategy group to oversee the future development of the school and the outreach service. Together. these subcommittees regulaAy held senior leaders to account as well as giving encouragement and support in tough time5. We learned in January of the retirement of our Executive Headteacher Dr Dayo Okunlola. as of the 31 August 2021. The trustees thank Dayo for 7 years of amazing leadership where he built and strengthened every aspert of the structure and performance of the Southover Partnership, leaving the orgarsisation in excellent shape. The trustees were delighted to appolnt Merushka Hansraj as the new Executive Headteacher in May 2021, who took up her post on September I" after a careful handover and induction during the summer term. The Southover Partnership I set up Southover in 1994 and it has nurtured IOOS of young lives who might otherwise have faltered. It is now time for others to carry on. As we publish our report in Spring 2022, 1 am delighted to tell you that we have appointed a new Chair, Jo Owen OBE who will take over from myself due to my retirement on March 31 2022. Jo's wide experience in governance and leadership as a published author and chairmanship in the voluntary sertor means that l am sure the Southover Partnership will thrive durlng the forthcoming years. Watch this space. Carol Frankl, Chalr of Trustees, 31 March 2022 CCLthJI The Southover Partnership TRUSTEES, REPORT IINCLUDING DIREcfoR'S REPORT) FOR THE YEAR ENDED 31 AUGUST 2021 The trustees present their annual report and financial statements for the year ended 31 August 2021. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's governing document. the Companies Act 2006 and "Accountlng and Reporting by Charities.. Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102}" leffertlve l January 20191. Summary and purpose of tharity The Southover Partnership was initially incorporated as The Southover Foundation on 23 December 2016 and subsequently thanged its name to Its current form on 27 Ortober 2017. Objertlves and activities The Southover Partnership is a multi-faceted educational organisation whose goal is to provide relentless care and glve all children a future through education. The objects of the charity are the advancement of education in the United Kingdom for the public beneflt of children and young adults with special education needs between the ages of 5 and 19: l. by provldlng educational services of all types within schools of all types and at home 2. by training teachers and educationalists in a range of specialist skllls and techniques and 3. In such other ways as the Trustees see fit from time to time Our vlsion To motivate and support stsff, pupils and the wider community to realise their dreams, through inspiratlonal learning and teaching, making a difference at every point of our engagements. Our misslon The Southover Partnership's mission is to be the best and most respected provider of special educational needs ISENI advi￿ and support, with every one of our seNices underpinned by the highest expectations, giving all children a sense of securlty and belonging In a warm and nurturlng environment, enabling them to achleve. What we stand for We are passionate about inspiring and empowering everyone in our community by: Embracing individuality Encouraging growth Striving for achlevement for everyone Providing a physically and emotionally safe and secure environment The Southover Partnership The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake to meet our students, needs and the challenges imposed by Covid-19. Report of the Executlve Headteacher, Merushka Hansraj 150ined The Southover Partnership Team as Executive Headteacher in September 2021. following the retirement of my predecessor after 7 years of Headship, and a Head of School who had been with Southover for 17 year5. 1 inherited a dedicated team, committed to the relentles5 care and support of our students. regardless of their own personal ¢ircumstan¢es during a very ¢hallenging period in humanitls history. We have worked collaboratively to restructure the office team for more efficient functionlng by consolidating 4 part-time roles into 2 full time roles. Whilst recruitment in Education continues to be a challenge, we have secured 2 Heads of School and a Head of Outreach by screening very carefully and only appointing staff we conclude are the right people for specific roles. without compromise. Our students, needs are highly complex and It Is imperative that we recrult staff who share our passionate commitment to our students, success. The Southover Partnership has 40 students on roll in school sUPPOrted by 70 staff. 27 students are accessing Home Tuition and 4 students receive in-school support via The Southover Partnership Outreach se￿iCe. An OFSTED Inspection in December 2021 re-affirmed that l)oth Teaching and Learning, and Personal Development is Outstanding under the new OFSTED Framework. recognising and quality assuring the significant improvements made since the last inspection. Outcomes for the Academic Year 202012021 have continued on the thread of consistently Outstanding progress. Student Results Outcomes Au8USt 20ZI l. External Examinations: Attainment191 entrie5 in tota4 ASIA2lother L3 1 Student: Achieved two A Leve15 at grade B and Merit in a L3 Cambridge Technical qualification. GCSE Results 17 GCSES were taken, 100% passed at grades 9 -1 and 76% of grades were passes at grades 94 and 59% at grades 9-5. Apart from English Language and Mathematics, subjects taken included Combined Science Trilogy, Art and Deslgn, Engllsh Llterature and Physics. Other Results Accreditations were also gained through Cambrldge Technical Certificate (Level 31, 8TEC Levels l and 2, AdvaTr￿d Diplomas. Functional Skills Level i. AQA UnitAward Scheme, NCFE qualification5, Art5 Council Award and Entry Level qualifications. The Southover Partnership Z. Extemal Examinatlons: Progre55 Summary- all 5ubje¢ts: Exam Entries Attainlng below indicative progression gradellevel Attaining at indicative progression gradellevel Attaining beyond indicative progression grade/level: Attaining at indicative {not number of students) progression gradellevel or above 91 70 82 76% 13%, 89% Surnmary-GCSEs: Attaining below indicative Attaining at Indicative progression grade/level Attaining beyond indicative progression gradellevel: Attaining at indicative progression grade/level or above progression grade/level 13 24% 35% 41% 76% Progress GCSE by subject at+ above Level GCSE GCSE GCSE Exarn Board Edexcel AQA Edexcel AQA AQA AOA Subjert Maths English Language Art & Design English Literature Combined Science- Trilogy Physic5 below at above GCSE GCSE GCSE Totals 13 35% 41% at indicative progression grade/level or above [%) 76% The Southover Partnership 3. Destinatlons All 6 leavers are going on to further education. Destinations HE or training Employment Total NEETlnot confirmed Normal Leaving agel end of Key stage We are all exceptionally proud of the achievements of all our students, and recognise the efforts of all staff to make these successes a reality. These achievements ultimately improve the life chances of each student and sets them on a path to an even greater chance of future 5ucces5. Updated Sthool Priorities Typically, pupils placed with us have had slgnlflcantly 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 principle5 of attachment theory. Our intent is to provide a curriculum and education experience that aims to.. Reset for securlty, Recover for wellbeing* Rebuild for learning and o Relaunch for successful adulthood Our School Development prlorities are: Quallty of Educatlon: Improve current currlculum offered to incorporate a flexible pupil-led and project-base pathway linked to EHCP outcomes; Establish systems that enable accurate judgmènts to be made about how well pupils are learning and progressing and the Impact of provision. Behavlour: Refine the school's therapeutic offer so that all pupils are more ready to engage in learning. Develop consistency in policy, procedure and prartlces across all three 51tes, Personal Development: Embed work done on SEND Gatsby benchmark acro55 curriculum to ensure all pupils have equal access careers education information and guldance ICEIAGI and that they are well prepared for transitions and life after Southover. The Southover Partnership Leadership and Management: Develop a staff leadership and CPD model to ensure effertive delivery of curriculum for both school and outreach services. Meet the challenges of recru¢ting qualified teachers in identrfied subjert areas through partnership of the TES Institute Straight to Teaching Programme. Expand provislon for securlng staff wellbelng Includlng workload management especially in light of the restructuring. Trustees agree priorities for and programme for further developing the govemance of the organisation to an outstanding level. Five-year strategic plan to include future efficlencles and expanslon of school and outreach. A selection of what other5 who l(now us well say about us Southover Students 'IYs a good place here, I get a lot of help and I've made lots offriends.. School isfvn ond the teachers are reollyfriendly., .1 enjoy PE (7nd woodwork best. Those lessons ore especiollyfun., .1 like doing le550n5 ond myfavourite lunch time club 15 singing and dL7ncing.' Southover Parents We a5 Pt7rents ore so happy with the specialism and passionote determinotAon of the stoff ot Southover. The Staff all work collabomtivelyfor the bert outcomesfor G communicating with me ond my husbond to support his social emotional ond cornmunication issues andhelping him to build up ochievements to help him progre55 into t7dulthood 0ndsuc￿sS in education. The curriculum is built on sociol development und the 5th001'5 experience with Aut15m and ottachment principles hove helped him settle and concentrote on let7rning which i5ft7ntastic. The staff Ifeel ore the key to 6,5 succes5 U5 they ¢7115eem to be ¢7wqre of the need5 of all the pupi15 t7nd thi5 must give them afeeling of being accepted and upprecioted which is u great combination. We are very huppy with ull ospects of this school. We are hopingfvr a p051tive tron51tion to college with o split plt7cement which is o unique and supportive way to continue the continuity of safety and care which is offered. His key worker ha5 been incredible with G and it ha5 helped that he 15 young and male. He ha5 hod very personalised dedicated support which is notfound in otherschools which hus oided hisprogression. Thonks to everyonefor your continuedsupport., I would like to begln to say how gretytly oppreciote the effort andsupport I've always receivedfrom the school over the yeors. I'vefound Ch05 learn to be independent und monoge to open up und trust others. Thls could only hoppen due to the hord work of V and the tet7rn. The role of the school is to guide and help the kids to grow and develop in The Southover Partnership their unique skills and Ifound the school has done thatfor C and stood by him when he didfind it difficult to come in. I'm allpraisefor the hord work oll the team ha5 Put in. All the best., Southover Staff The Southover Partnership is a greot place to work at. Since I storted the role t75 a TA I was well informed and I knew exartly what I had to do. Colleagues are very supportive, friendly and maintain positive attitude and Strivefor improvement. They are respectful profe55iongl and ore omazing team workers., The m05t enjoyable part of the job is seeing students improving their learning skills. knowledge and thlnking obout their career, or university cholces.. Also, ensuring thot Students feel valued and are given proise ond encourt7gement. Furthermore, this school has high expectotions of students and develop their attitude5 and 5elf- belief through appropriate chullenge5.' encouroging the participation of 0115tudents in the currlculum and soclal lift of the school., 'It 15 truly rewording to see how the effort our tet7m puts in is making a difference to our students. School experience. They are more thun capoble of achieving greot thlngs and we are so glod tht7t we ore oble to fvcilitate this. Whether that be through their educt7tional needs, being someone to confide in or have t7 lough with. .1 enjoy working for Southover and love the ideo of provldlng the children the same type of education that young people get in muinstreom 5choo15. 1 love to feel that I can work in a setting where l am content and supported by my collet7gues. It creotes an environment where we con make a positive contribution to our students, educution.. 7 am extremely proud of being a port of the Southover Portnership team. The Southover Portnershlp a place that truly prornotes induslon, celebrates differences and provides high quality education by removing our learnings barriers.. Action Requlred Suggest we adopt this format as the report is somewhat Ilke an operational review in a corporate context. If agreeable. then Merushka wlll have to provlde the write-up for the report. The Southover Partnership Financial review It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be malntalned at a level equivalent to between three and six months of net expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reseNes has been maintained throughout the year. The year 2020121 continued to post financial challenges to businesse5 due to Covid-19 with new variants. 2020- Distribution of Income i.o°A Donatlofts & lega¢ie5 I Charitable aetiviti•s i Othgr in¢om• Desplte the untertainties and challenges brought about by Covid-19. the Southover Partnership recorded about 5% drop in income from £2.87m to £2.77m in school year 2019120 and 2020121 respectively. For the corresponding periods, the resulting net income decreased from a profit of £13.398 to a loss of £141.111, which was covered by the reserves that Southover had prudently built up over the years. 2021- Distribution of Income 1.5°A Y13% DorAtlons & lepele$ w Charitsble activities • other inetXn• The mairb sources of income are generated from its teaching artivities which recorded a 3% drop from £2.83m to £2.70m in the years 2019/20 and 2020121 respertively. The School continued with its agile management of its on-site and off-site curriculum access and in particular Its Home Tuition SeNices. The expenditures of charitable activities were about 90% of the total expenditures for each of the respective years. The total staff costs improved slightly by 0.5% vs the total costs from £2.43m in 2020 to £2.39m in 2021. Correspondingly, for the same period, the percentages against the total incomes improved by 3.5%. To ensure that the schools at the three sites namely Kingsbury Manor, Hutton Grove (Finchley Progressive Synagogue) and Southgate (Progressive Synagogue) are safe and reliable, Southover spent £0.21m in 2021 compared with £0.17m in the associated premises costs. ## **Reserves and financial health** The unrestricted funds, held as reserves decreased by 32.9% from £0.43m in 2020 to £0.29m in 2021. This was used to cover the loss incurred in 2021 as a consequence of the Covid-19 pandemic. Over the same period, the total current assets increased by 2.5% to £1.0m from £0.98m. There is a cover of 2 of reserves in the form of unrestricted over the net income and endowment. Given the good credit-worthiness of its creditors, the diligence in invoicing and the monitoring payments, the school is able to maintain its financial health. In addition to this, Southover is also actively managing its expenditure, implementing costcutting measures where appropriate and building its reserves. The Trustees assisted by the School’s Senior Leadership Team monitor the reserves and the cash flows in addition to ensuring that all spendings are within the approved budget. The Trustees have assessed the major risks to which the charity if exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Structure, governance and management** The Charity is a company limited by guarantee without share capital. The Trustees are the directors of The Southover Partnership. The following Trustees have served throughout the year except where indicated: C Frankl J March M Nemko (date of termination 31 August 2021) R Abrahams (date of termination 23 June 2021) C Sungu (date of appointment 26 May 2021) V Chowdhary (date of appointment 28 May 2021) J Kay J Moore For the purpose of the signing of this report, the following Trustee appointments should be noted: J Owen (date of appointment 1 February 2022) T H Chia (date of appointment 16 November 2021) None of the Trustees has any beneficial interests in the company. All the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. 10 Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and establish that the auditor is aware of such information. The Finance and Governance Committee assist the Board of Trustees in some of the Finance and Governance matters. Collectively, they maintain an oversight of the governance and management of the School by its Executive Headteacher and the Senior Leadership Team to ensure the smooth running of Southover. ## **Auditor** In accordance with the company's articles, a resolution proposing that Warner Wilde Limited be reappointed as auditor of the company will be put at a General Meeting. The trustees' report was approved by the Board of Trustees. J Owen Chair, Board of Trustees Date: 31 May 2022 11 THE SOUTHOVER PARTNERSHIP STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2021 The trustees. who are also the dlreclors of The Southover Partn8rshlp for the purpose of company law, are responsible for preparing the Trustees. Report and Ihe financial statemgnts in owordance with applicable law and Unitsd Kingdom Accounting Standards (United lfjngdom GenerallyAccepled Accounting Practice). Company Law rgquiras th6 trustees to prepare financial stalernents for each financial year whtch gNe a tnje and fair view of the slate of affalrs of the charity and of the incoming resources and appllcatlon of resources, Including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the tnjstees a￿ Trquired to.. Select suitable accounting policies and then apply them wnsistgntly. - observe the methods and principles in the Charities SORP. - mak8judgement5 and estimates that are reasonable and prudent., state whether applicable UK Ac(x)untlng Stsndards have been followed, subjeot to any material departures disclosed and exptalned In the financial statements.. and prepare the financial statemènts on thé going concam basls unless tt Is Inappropriate lo presume that the chadty wlll contlnue in operation. The trustees are responsible for keeping adequats accounting rocords Ihat disclose with reasonable accuracy at any time the financial position of the cha￿ty and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguardlng the assets of the charfty and hence for taking reasonabla steps for the prevention and detection of fraud and other Irregularftles. 12- THE SOUTHOVER PARTNERSHIP INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE SOUTHOVER PARTNERSHIP Oplnlon We have audited the financial statements of The Southovgr Partnership (thg 'Gharity') for the year ended 31 August 2021 which CA)mprise the stalemenl of financial activslies. the balance sheet. the statement of cash flows and notes to the ffinanclal statements, including significant accounting policies. The finanaal 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 Standarf applicable in the UK and Republic of Ireland (United Kingdom GenerallyAccepted Accounting Practice). In our oplnlon, the flnanclal statemenlg: givg a true and fair view of the stale of the Gharitablg Gompany's affairs as at 31 August 2021 and of its incoming rosources and application of resources, for the year then ended; have been propedy prepared in accordance with Unked lQngdom Generally Accepted Accounting Practice., and have been prepared in accordan￿ with the requirements of the Companies Act 2006. Basls tor oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards ara further descnbed in the Auditorfs responsibilitias for the audit of the financi81 statements sedon of our report. We are independent of the charity in accordance wth the ethical requlrements that are relevant to our audll of the flnanclal statements In the UK, Induding the FRC'S Ethlcal Stsndard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We b8lleve that the audlt evldence we have oblalned Is suffidant and 8pproprlate to provlde a basls for our oplnlon. Concluslons ralatlng lo golng concèrn In auditing the financial statements. we have concluded that the trustees. use of the going concern basis of acwunting in the preparation of the financial Statements Is appropriate. Based on the work we have performed, we have not identified any material uncertainlles relating to events or conditions thaL individually or collectively, may cast significant doubt on th8 charity's ability to continue as a going concem for a period of al least ￿e1ve months from when the financial slalements ar8 authorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concern are described in the relevant sections of this report. Other Infomiatlon The other infomiation comprises the infomation included in the annual report other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other inforniation contained within the annual report. Our opinion on the financial ststemenls does not cover the other infomialion and we do not express any fom) of assurance conclusion thereon. 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 oblained in the course of the audlt. or Othe￿Se appears to be materlally mlsslated. If we Idenllfy such material inconsistencies or apparent material misstatements, we are reqljired to detemiine whether this gives rise to a material misstatement in the financlal statements themselves. If. based on the work we have pBrformgd, wg Goncludg that there is a matorial misstatoment of this other infomiation, we are required to report that fact. We have nothing to report in this regard. 13- THE SOUTHOVER PARTNERSHIP INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE SOUTHOVER PARTNERSHIP Matters on whlch we aro roqulred to roport by excaptlon We have rsothing to report in respect of the following mattgrs in relation lo which the Challties (Accounts and Reports) Regulations 2008 require us lo report to you rf, in our opinion.. the infomiation gwen in the financlal ststemenls is inconslstent in any materlal respect with the trustees, report,. or sufficient accounung records have not been kept. or the financl81 statements are not in agreement with the accountlng records; or we have not received all the information and explanations we require for our audit. R05ponsibilities of trustoes As explained more fully in the stalem8nt of trustees. responsibllities, the trustees, who are a150 the directors of the charity for the purpose of company law. are responsible for the preparation of the financial statements and for being satisfied that they give a tru9 and fair view. and for such internal control as the trustees detemiine is necessary to enable the preparatlon of financial stalgments that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's abilty to continue as a going concem, disclosing. as appllcable, mallers related lo going concern and using the going concem basis of accounting unless the trustees either intend lo liquidate the charftable company or tr) cease operalons, or have no realistic atternatNe but to do so. Audltorfs re5ponslbllltle8 forthe audlt of the flnanclal SL￿ernents We have been appointed as auditor under section 144 of the Ghartties Act 2011 and report in acoordance with the Act and relevant regulations made or having effect thereunder. Our obiectives are to obtaln reasonable assurance abjut whether the financlal statements as a whole aro free from material misstatement, whether due lo fraud or error, and lo issue an auditorfs report that includes our opinlon. Reasonable assurance Is a hlgh level of assuranGe but is not a guarantee that an audit conducted in accordance with ISAS {UKI will a￿yS detect a material misstatemgnt when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonabty be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detectlng Irregularities, including fraud. is detalled below. A further descriptlon of our responsibilities is available on the Financial Reportlng Counril's website at-. https-.11 wwW.frc.org.u￿aUdttorsresponSibil1IIe9. This descrfption forms part of our auditorfs report- Use of our report This report is made solely to the charity's trustees. as a body, in accordance wth part 4 of the Charities {Accounts and Reports} Regulations 2008. Our audit work has been undertaken so that we mlght slate to the charity's trustees those matters we are required to slate to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work. for thls report, or for the opinions we have formed. FJ Wllde Senior Statutory Audttor For and on behalf of Warn&r Wllde Umltsd Chartergd Cgrtlftgd AcGountsnts statutory Auditor 4 Marigold Drive Bisley Surrey GU24 9SF Wamer Wilde Llmlted Is ellglble for appolntment as auditr)r of tho charity by virtu8 of its eligibllity for appolntm8nt as auditor of a company under section 1212 of tho Companies Act 2006. 14- THE SOUTHOVER PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 AUGUST2021 Unrnstricted funds 2021 Total period 2020 Not0$ Donations and legaGie$ Charitable activities Other income 33,791 11,625 2.697.352 2,832.860 42,331 27.653 Total Incoma 2,773.474 2,872,138 Ex enditure on: Charitsble activities 2,914,585 2,858.740 Net lexpendlture)fincorne for the yearl Net movernent in funds (141,1111 13,398 Fund balances at 1 September 2020 429,512 416,114 Fund balances at 31 August 2021 288.401 429.512 The ststement of financlal actMtie8 Includes all gains and losses recognlsed In the year. All income and expenditure derive from ¢ortlinuing activities. The statem8nt of financial activities also oomplies wlth the requlrements for an income and expendllur8 account under the Companies Act 2006. 15- THE SOUTHOVER PARTNERSHIP BALANCE SHEET AS AT31 AUGUST2021 2021 2020 Notes Fixed assets Tangible assets 10 118,917 138.256 Current assgts Debtors Cash at bank and in hand 11 7Q,149 243.179 723,959 257,278 1,005,328 981.237 Credltors: amounts falllng due wlthln one year 12 1835.844) (689,981} Net cu￿ent assets 169.484 291,256 Totsl assels lass current Ilabllltles 288,401 429,512 Income fund$ Unrestricted fund$ 288,401 429.512 288,401 429,512 The company is entitled to the exemption from the audit requirement contained in sectlon 477 of the Companies Act 2006, for the year ended 31 August 2021, although an audit has been ¢arrted out under se¢llon 144 of the Charities Act 2011. The dlrectors acknowledge their r8sponsibilities for complying with the requirements of the Companies AGt 2006 wlth respect to aG¢ountlng records and the p￿paratIOn of financial statements. The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance wth section 476. These finan¢ial statements have been prepared In accordanGe with the provisions applicable to companles subject to the small companies reglme. The financial statements were approved by the Trusiees on . THChia Trustee Company reglstratlon number 10539109 THE SOUTHOVER PARTNERSHIP STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST2021 2021 2020 Not•s Cash flows from operating actlvltle8 Cash absorbed by operations 17 {4,894) {24,396} Investing activities Purchase of tangible flxed a8sel8 Proceeds on disposal of tangible fred assets {33,0041 (6,4911 (14.6601 Net eash used In Investlng actlvltle8 147.664) (6,4911 Net cash used In fSnanGlng oGUvltleg Not docroa$e In cash and equlvalants {52,5581 {30,887) Cash and cash equivalents at beginning of yéar 257,278 288,164 Cash and cash equlvalents at end of year 243,179 257,278 17- THE SOUTHOVER PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Accounting poliGio$ Charity information The Southover Pathershlp 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 Accountlng Gonvontlon The financial statements have been prepared In aecordance with the charity's goveming documenL the Companies Act 2006. FRS 102 'The Financial Reportlng Standard applicable in the UK and Republic of Ireland. I'FRS 102.) and the Charftles SORP 'kncounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparfng thelr accounts in accordance with the Financial Reporbng Standard applicable In the UK and Republic of Ireland (FRS 102)'18ffectlv8 1 January 2019)- The charity is a Public Benefit Entity as defined by FRS 102. The financial Statements are prepared in starling, which is the functional ¢)Jrrency of the charity- Monotary amounts In these financial statements are rounded lo the nearest £. The financlal statements have been prepared under the historical cost conventlon, Imodlfied to Include the revaluation of freehold properties and to include Investment properties and Gertain financial instruments al fair valu8]. Tho principal accountlng pollcles adopled are set out below. 12 Going concern At the time of approving the finanL?al statements, the tnjstees have a reasonable expectation that the charity has adequate resources lo continue In operallonal existence for the foreseeable fvture. Thus the Irust99s continua to adopt the going concern basis of accounting In preparing the financial slalemenls. 1J Charitable funds Unrestricted funds are available for use al the discrellon of the trustees In furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as lo how they may be usad. The purposes and uses of the restricted funds are set out in th& notes to the financial ststements. Endowment funds are subject to sp8cffic condllions by donors that th& ￿pital must be maintained by the charity. 1A Income Income is recognised when thg charity is legally entitled to it after any perft)rmance condltions have bean met, the amounts can be measured reliably, and it is probable that Income will be rgcAived. Cash donations are recognised on r￿lpt. other donations are recognised once the charity has been notlfied of the donation, unless perfomiance conditions require deferral of the amount. Income tsx recoverable in relation to donations received under Gift Ald or deeds of covenant is recognised at the time of the donation. Legacies are reGognisgd on recelpt or otherwise if the charity ha8 been noltfied of an impending distribution, thg amount is known, and receiptls expocted. If the amount is not kn¢)wn, Ihe legacy is treated as a contingent asset. 1.5 Expendlture Llabilities arg recognised when either a legal or constructive obligation Is identified. Expenses include VAT where applicable as the company cannot reclaim It. 18- THE SOUTHOVER PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Accountlng pollcles Icontlnued) 1.6 Tangibl8 fix8d assots Tangible fixed assets are Inlllally 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 le￿ thair rasidual values over their useful lives on the following bases.. Leasehold land and buildings Fixtures and fthings Computers Motor vehicles Over the lrfe of the lease 10 /0 straight line 3 years slraight line 3ygars straight line The gain or loss arising on the disposal of an asset is determined as the drfference betr￿09n the sale proceeds and the carrying value of the asset. and18 recognlsed In the statement of financlal actlvilies. 1.7 Impalrnient of flxed assets At each reporting end date, the charity reviews the carrying amounls of tts tangible assèts 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 esllmated in order to delemine the extent of the impairment 10s5 (If any). 1.8 Cash and Ga$h gqulval8nts Cash and cash equivalents include cash in hand. deposits held at call with banks. other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are Shown within borrowngs in CLsrrenl liabilities. 1.9 FlnanGlal Instrumonts The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Sectlon 12 'Olher Financial Instruments Issues. of FRS 102 to all of ils financial instruments. Flnanclal Instrum&nls are recognlsed In tha charlvs balance she81 when the charlty become5 party to the ontradual provisions of the instrument. Financial asse15 and liabilTties 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 th8re is an intention lo settle on net basls or to reallse the asset and settle the Ilabillty slmultaneousty. Baslc flnanclal assets Basic financial assets, which indude debtors and cash and bank balances, are initially measured at transaction price including tr8nsactlon costs and are subsequently carrled at amortised cost uslng the effective interest method unless the arrangement constitutes a firsancing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of Interest. Flnanclal assets classified as receivable within one year are not amort1S9d. 19- THE SOUTHOVER PARTNERSHIP NOTES TO THE FINANc￿L STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Accountlng pollcles (Continued) Baslc flnanclal liabilities Basic financial liabilities, including creditors and bank loans are initially recognlsed at transaction price unless the arrangement ct)nstilutes a financlng transaction, where the debt instrument Is measured at the present value of thg futur8 payments discounted at a market rale of Interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments a￿ subsequendy carried at amortised cost, using the effectlve interest rate method. Trade creditors are obligations to Pay for goods or services that have been acquired in the ordinary coursg of Opera￿OnS fmm suppllers. Amounts payable are classrfi8d as current liabilities if payment is due withln one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured 81 amorknsed cost uslng the effectwe interest method. Der¢¢ognition of fIna￿la1 liabilities Financial liabiliti&s ar8 derocognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday enutlament is recognlsed in the period in which the employee's services are received. Temiination benefits are recognised immediatdy as an expen86 when the charfty Is demonstrably committed to temilnale the employment of an employee or to provide temilnallon benefits. 1.11 Retlromgnt beneflts Payments to defined contribution retlremgnt benefit schemeg aTr charged as an expense as they fall due. Crftlcal accountlng astimates and judg&monts In the applEcatfon of the charlvs accounting policies. the Iruslees aro required to make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The e8tlmates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may diff&r from these estimatgs. The eslimatos and undedying assumptlons are reviewed on an ongoing basis. Revisions to accounting estimates are recognis8d in the period in which the estimate Is revised where the revislon affects only that period. or in the period of the revision and future periods where the rovision affècts both currenl and future periods. Donatlon$ and legacle8 Unrestriotgd Unrestricted funds funds 2021 2020 Donatlons and gifts Donatsd goods and services 31,994 1,797 11,625 -20- THE SOUTHOVER PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Charltable actlvltles 2021 2020 Sales within charitable activities 2,697.352 2.832.860 Other income Unrestricted Unrestrlcted nds funds 2021 2020 Net gain on disposal of tangible fixed assets other Income 9,467 32.864 27.653 42,331 27,653 Charitable activities Charltablg Charltablg Expèndlture Expendlture 2021 2020 staff costs Depreciation and Impairment staff costs and DBS Student educattonal matsrfals, therapy and oth&r costs Premises costs Sothvare, IiGences and websiee Costs Exam costs Legal fees Insurances 2,130,987 2,111,433 38,011 38,653 51,629 37,946 113.864 139,745 205.232 163,877 47,899 39,257 5,929 3,785 900 14,761 33,965 30,101 2,628,416 2,579,558 Share of support costs (see note 7) Share of goveman¢e costs (seg note 7) 272.968 13.201 267.908 11.274 2,914,585 2,858,740 21 THE SOUTHOVER PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2021 Support costs Support Governance costs costs 2021 Support Govemance costs costs 2020 Staff costs Office and administrative costs Marketing and advertising 248.189 248,189 219,212 219.212 24,779 24,779 48,095 48,095 601 Trustee meeting costs Audit and accounts prgparation costs Cha￿ty set up costs 3,303 3,303 1,094 1.094 6,768 3,130 6,768 3.130 7,470 2,710 7.470 2,710 272,968 13,201 286,169 267.908 11,274 279.182 Anawd be￿n Charitable aclivities 272.968 13.201 286,169 267,908 11,274 279,182 Govemance costs includes payments to the auditors of £7,068 {2020: £7.4701 accrued for audit and accounts preparation fees including irr8¢overable VAT. Thistee8 None of the trustees {or any persons connected with them) recelvad any remuneration or benefits from the charity during the year. Employeos The average monthly number of employees during the year was.. 2021 Number 2020 Numb8r Aémlnlstration and support Teaching Leadership 104 Total 119 112 THE SOUTHOVER PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Employ¢e$ (Continugd) Employm8nt costs 2021 2020 Wages and salarfes Social security costs Other pension costs 2,168,488 162.317 48,371 2.125.019 164,094 41,532 2,379,176 2,330.645 Key Management Personnel comprises the Senior Leadership Team. the lolal cost of Key Management Personnel for the year ended 31 August 2021 w4s £337,71412020: £375,604) inclLKling employeffs national insurance and pension (L)ntribulion5. The number of employees whose annual remuneration was more than £60,000 is as follows: 2021 Number 2020 Number 70,001- 80,000 80,001- 90.000 Contr¢butions lotalling £1,01812020.' £nil) were made to defined contribution pension schemes on behalf of employees whose emoluments exceed £60,000. -23- THE SOUTHOVER PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2021 10 Tanglblo fixed assets L•as•hold Flxturn6 and land 4nd flttlng¥ buildln95 Computsrs Motorw8hic188 Total At 1 September 2020 Addit6ons 182.992 15,420 67,014 54,747 17.584 29,054 333,807 33,004 At 31 August 2021 198,412 67,014 72,331 29,054 366.811 Depreclatlon and impalrment Al 1 September 2020 Depreciation oharged in the year Elimlnated in respect of disposals 89.438 21,590 45.282 4,054 46,721 11,755 52,570 611 {24,127) 234,011 38,010 124,127) At 31 August 2021 111,028 49.336 58,476 29.054 247,894 Carrylng amount At 31 August 2021 87,384 17,678 13,855 118,917 Al 31 August 2020 93,554 21.731 8,027 14,944 138,256 11 Debtors 2021 2020 Amounts falllng due within one year: Trade debtors Other debtors Pr8paym8n18 and accrued Income 695,648 1,373 65,128 680,418 1,373 42,168 762,149 723,959 12 Credltors: amounts falling due wlthin one year 2021 2020 Notes Other taxation and SC￿￿81 sacurity Deferred Income Trade creditors Other creditors Accruals 33,255 731,063 38,654 7.048 25.824 31,933 611,003 19,136 6,137 21,772 13 835,844 689,981 -24- THE SOUTHOVER PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2021 13 Deferred Incomo 2021 2020 Other deferred income 731,063 611,003 Deferred income Is Included in the financial statements as foll¢)WS'. 2021 2020 Deferred income is included within= Current liabilitie$ 731,063 611.003 Movements in th9 year. Warnlngl Flguras do notagreo by." 120,060 130,600 14 Rollrem¢nt bgneflt schemes Dafin8d contrlbutlon sGhgmes The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the stheme are held separately from those of the charity in an independently admlnislered fund. The tharge to profit or loss in respect of defined contribution schemes was £48.37112020- £41,532). 15 Operatlngloase commltm•nts At the reporting end date the charity had outstanding commitments for fulurg minimum lease paymonts und&r nOn-can￿lIable operating leases, whlch fall due as follows: 2021 2020 Within one year Be￿e￿n two and five years In over flve years 47,789 134,351 306,667 58.034 163,005 346.667 488,807 567.706 16 Rèlated party tran8actlons There warg no disclosable related party transaction$ during the year12020- nonè). -25- THE SOUTHOVER PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 17 Cash generatod from opèrations 2021 2020 {Dgficitysurpus for the year (141,111) 13.398 Adjuslmenls for. Galn on disposal of tangible fixed assets Depreciation an(1 impairment of tangible fixed assets (9,4671 38,011 38,653 hAovements in working capital.. (Increase) in debtors Increaselldecreasel In creditors Increase in deferred income {38,1901 25,803 120,060 (195,9041 (11,1431 130,600 Cash absorbed by operations 14,894) (24.396) 18 Analy$ls of change$ In net funds The charity had no debt during the year. -26-