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2022-08-31-accounts

Charity registration number 1175243

Company registration number 10539109 (England and Wales)

THE SOUTHOVER PARTNERSHIP

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

THE SOUTHOVER PARTNERSHIP

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J Kay C Sungu E Samarasinghe H Stephens T H Chia L Y Yap K Adams 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 16 November 2021) (Appointed 16 November 2021) (Appointed 16 November 2021) (Appointed 20 February 2023) (Appointed 26 January 2023)

THE SOUTHOVER PARTNERSHIP

CONTENTS

Page
Message from the Chair, Lynn Yap 1
Trustees' report 2 - 9
Statement of trustees' responsibilities 10
Independent auditor's report 11 - 14
Statement of financial activities 15
Balance sheet 16
Statement of cash flows 17
Notes to the financial statements 18 - 26

THE SOUTHOVER PARTNERSHIP MESSAGE FROM THE CHAIR, LYNN YAP FOR THE YEAR ENDED 31 AUGUST 2022

Dear Friends and Supporters,

As the Chair of the Board of Trustees for The Southover Partnership, I am pleased to present our annual report for the year 2022.

Our schools offer a unique environment where children with special needs can receive the support they need to thrive academically, socially, and emotionally. Through innovative teaching methods and personalised learning plans, our students have the opportunity to reach their full potential and lead fulfilling lives. Every day, we see the transformative power of education and community support in the lives of our students and their families.

The year 2022 continued to challenge our resilience and was marked by the war in Ukraine, changes in the premiership and cabinet in the UK and the cost-of-living crisis. Similarly, we also experienced change at The Southover Partnership during this period. Jo Owens OBE, who took over the helm from Carol Frankl as Chair of Trustees, resigned in late 2022, and Merushka Hansraj left her position as Executive Head Teacher in March 2023. The departures were due to personal and family reasons. I was appointed as Chair in February 2022. Kief Ho, who is Head Teacher at Kingsbury Manor, is currently the acting Executive Headteacher until a formal appointment is made for the role.

Despite the political and economic challenges externally and changes within the organisation, The Southover Partnership has stayed resilient and adaptable. The team and staff have worked tirelessly to create a safe and nurturing environment for our students at schools and in their homes through our Outreach Services to flourish. I am proud of their following achievements, thanks to their dedication and determination.

None of this would be possible without the support of our incredible community. From our dedicated staff to our supportive stakeholders, including local authorities, partners and parents, every individual plays a critical role in helping us achieve our mission.

By working together, we can ensure that all children have the opportunity to reach their full potential, regardless of their learning abilities. We are committed to creating a world where all children are valued and respected and where everyone has the chance to succeed.

Thank you for your support.

With gratitude and inspiration,

Lynn Yap Chair of the Board of Trustees 15 May 2023

1

THE SOUTHOVER PARTNERSHIP TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

The trustees present their annual report and financial statements for the year ended 31 August 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply 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).

Objectives and activities

The charity's objects are primarily the advancement of education in the United Kingdom for the public benefit for relevant students:

Our Vision

The Southover Partnership offers a safe, highly personalised and nurturing learning environment where students are able to develop socially, academically and emotionally, in order to engage and achieve to be happy, independent, well educated, socially confident and successfully productive members of our society.

Our Mission

The Southover Partnership’s mission is to be one of the best and most respected providers of special educational needs advice and support, with every one of our services underpinned by the highest expectations, giving our students a sense of security and belonging in a warm and nurturing environment enabling them to achieve and flourish.

It has been providing its students with special education needs between the ages of 8 and 19. To further this, the charity aims to carry out the following:

2

THE SOUTHOVER PARTNERSHIP TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

This will be carried out within a values-framework of:

S ocial confidence P erseverance

E quity C ommunication T eamwork

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Report of the Executive Headteacher, Kief Ho

I joined The Southover Partnership Team as the Head of School in April 2022, and became the interim Executive Headteacher in April 2023. I inherited an organisation that was full of care, love, skills, experience and knowledge. There have been some changes in the Senior Leadership Team (SLT) within the last 12 months, as we have recruited a new Head of Outreach, a Head of School for the Southgate Site, a School Business Manager and a SENCO who is due to start in September 2023. In addition, we also have a secure Middle Leadership Team, supported by the SLT, which consists of a Head of Maths, English, Science, PSHE, P.E., Arts and Careers advisor. With a clear school structure, we aim to continue to develop staff’s skills and provide a bespoke learning experience for our learners.

We are committed to the staff’s well-being as we believe they are fundamental assets and that they must feel valued and looked-after. A new staff well-being team led by the school counsellor and a Head of School was formed in April 2023, with 8 staff volunteers from all three sites. The team meet half-termly to discuss initiatives to not only motivate staff, but to inspire them. We have currently launched ‘The Well-being Day’ policy, which enables staff to take one day off a year for their well-being in addition to their contractual holidays.

Currently, the Southover Partnership has 37 students on roll in school, supported by 54 staff members. 28 students are accessing Home Tuition and 3 students receive in-school support via The Southover Partnership Outreach Service. To conclude, we have a fantastic, dedicated team who work effectively with students within the organisation to ensure that the well-being of the students is optimised.

Student Results Outcomes August 2022

1. External Examinations: Attainment (79 entries in total )

GCSE Results

20 GCSEs were taken, 100% passed at grades 9 -1, 65% of grades passed at grades 9-4 and 45% at grades 9-5. One student achieved a grade 9 in Photography. Apart from English Language and Mathematics, subjects taken included Physics, Chemistry, Art and Design – Photography, History and Geography.

3

THE SOUTHOVER PARTNERSHIP TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Other Results

Accreditations were also gained - BTEC Levels 1 and 2, Functional Skills Level 1 and 2, AQA Unit Award Scheme, NCFE qualifications, Arts Council Award Functional Skills Entry Level and Entry Level qualifications.

2. External Examinations: Progress

Note: Reporting by groups (Ethnicity, EAL, etc., is not appropriate due to the small number of students for most exams (very often 1 or 2). We are also only able to publish this level of analysis for each subject if the number of students entered is more than 10.

Summary -all subjects:

Exam Entries
*(not number
of students)

Attaining below
indicative progression
grade/level
Attaining at indicative
progression
grade/level
Attaining beyond
indicative
progression
grade/level:		 Attaining at
indicative
progression
grade/level or
above
79 8 38 33 71
10% 48% 42% 90%

Summary –GCSEs (20 Entries):

Attaining below
indicative progression
grade/level		 Attaining at indicative
progression
grade/level		 Attaining beyond
indicative progression
grade/level:		 Attaining at
indicative
progression
grade/level or
above
5 6 9 15
25% 30% 45% 75%

Progress GCSE

Level Exam Board Subject below
at		 above at + above
GCSE Edexcel Maths 3 3 2 5
GCSE AQA English Language 2 1 2 3
GCSE Edexcel Art & Design - Photography 0 0 1 1
GCSE AQA Geography 0 0 1 1
GCSE OCR History 0 0 1 1
GCSE AQA Chemistry 0 1 1 2
GCSE AQA Physics 0 1 1 2
Totals 5 6 9 15
%
% atindicative progression
grade/level or above		 25% 30% 45% 75%

4

THE SOUTHOVER PARTNERSHIP TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

----- Start of picture text -----
3. Progress non-GCSE
Attaining below Attaining at indicative Attaining beyond Attaining at
indicative progression progression indicative progression indicative
grade/level grade/level grade/level: progression
grade/level or
above
3 32 24 56
5% 54% 41% 95%
----- End of picture text -----

4. Destinations

4. Destinations
Destinations Total
HE / FE or
training		 Employment NEET/not
confirmed
Normal Leaving age/ end of Key
stage		 4 0 0 4

All of our leavers from the last academic year continued to further themselves in Education, and the credit is due to their own hard work, our organisation’s relentless care and support from families. We are all proud to have been a part of our leavers’ educational journey and wish them all the best in the future.

A selection of what others who know us well say about us Southover

1. Students

I enjoy coming to school because I like my lessons and talking to other people (Student from Kingsbury Manor Site)

I learn about Science, English and Maths in school. My favourite subject is ICT. Student from Kingsbury Manor Site)

The staff at Southover are kind and very nice. They allow me to work at my own pace knowing what is best for me and how much they can push me. I do not dislike anything about my school. (Student from Southgate Progressive Synagogue Site)

The staff have been very nice and helpful throughout my time at this school. They support me when I am upset and allow me to walk with them around the garden to calm me down. They have helped me to become a little more independent. I used to take two hours to cook one meal and now I can cook two meals in an hour and a half. (Student from Southgate Progressive Synagogue Site).

5

THE SOUTHOVER PARTNERSHIP TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

2. Southover Parents

These are the points we are pleased with, regarding Southover:

(Parent from Kingsbury Manor)

I will continue with what I was saying. After being out of education for a long time, my child has now found his niche. Mainly due to the commitment and dedication of the Headteacher and his team at Finchley. My child is now engaging more with others, learning and making so much progress. At times he may regress but I know they are there for him, ready to meet his needs and treat him with the care and respect he never received in secondary mainstream education. A massive thank you to all.

(Parent from Hutton Grove)

3. Southover Staff

' I am proud to work with some of the best colleagues and I believe our students have developed well since attending Southover.’

‘I'm happy to be part of a team that looks to improve the lives of our students and provide them with the best opportunities for the future.’

‘I am able to be myself and have been given a chance to grow as a teacher as well as things I feel passionate about. It also is a flexible job which gives me enough time outside of school to be able to live a well-balanced life.’

‘We are patient and kind and do our very best for our students always.’

The school has a great record of personalising their education to best suit the needs of the individual.’

‘I am able to talk to the leadership team if I am unclear about something.’

6

THE SOUTHOVER PARTNERSHIP TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

‘The team are friendly and professional, and they make coming to work enjoyable.’

‘We go above and beyond to make sure that each students needs are met, by using our own time and resources if necessary.’

‘I am proud to be working within such a unique place working and with really special kids. I feel aligned with the ethos of the school and that makes me proud to be here.’

‘I work with the children on the edge of education who would not access education otherwise and I work with some of the most inspiring and focused and devoted individuals I have ever met.’

‘Good sense of teamwork and l would like to think that l am making a positive impact on students' lives.’

‘I feel that I’m part of a really great team.’

‘The school feels established and I can see the change in the students.’

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three to six months’ expenditure. The trustees consider 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 reserves has been maintained throughout the year.

The year 2021/22 continued to be challenging in the midst of a difficult economic environment. Despite a drop in the donations received and other income, the Southover Partnership (TSP) managed to record a 14.5% increase in its income from £2.73m to £3.18m in school year 2020/21 and 2021/22 respectively. Due to the diligence and active management from the Executive Headteacher (EHT) and the Senior Leadership Team (SLT), the expenditure related to the charitable activities rose marginally by 0.3% from £2.91m to £2.92m over the same period. This enabled TSP to rebuild its funds balance from £0.29m to £0.54m over the year.

7

THE SOUTHOVER PARTNERSHIP TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

The distribution of income for the years 2021/2022 and 2020/2021 are as shown below:

Reserves and financial health

TSP has managed to generate a surplus of £0.25m in 2021/2022 compared with a deficit of £0.14m in 2020/2021. The EHT and the SLT work within an approved budget with their Finance Team and trustees having an oversight on the financial position of the School. In addition to these, there are regular Finance & Governance and Board meetings with reports and updates from the EHT.

The trustees remain satisfied that the existing cash flow are sufficient to fund TSP as an on-going concern.

The Pension liability has been reported in the accounts in accordance with the accounting standards FRS 17. All staff are auto-enrolled into a scheme operated by NEST.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

8

THE SOUTHOVER PARTNERSHIP TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

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 changes are post-31 August 2022 as indicated:

L Y Yap, Chair
K Adams
T H Chia
J Kay
E Samarasinghe
H Stephens
C Sungu
J Owen (Former Chair)		 Appointed 20 February 2023
Appointed 26 January 2023
Resigned 27 January 2023

The charity is currently operating three schools under The Southover Partnership namely Kingsbury Manor (Main), Finchley and Southgate which are managed by their respective Head of School and reporting to the Executive Headteacher.

The changes to the Chair and Executive Headteacher are explained in the afore-mentioned Chair’s message.

None of the trustees has any beneficial interest in the company. All trustees are members of the company and guarantee to contribute £1 each in the event of a winding-up.

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit that the auditor is unaware of. 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 the Southover Partnership.

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.

L Yap Chair, Board of Trustees Date:

9

THE SOUTHOVER PARTNERSHIP

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2022

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:

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.

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 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including 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:

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 the provisions available for small entities, in the circumstances set out in note 19 to the financial statements, 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

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form 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 obtained in the course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

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:

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, are 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 are 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .

THE SOUTHOVER PARTNERSHIP

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE SOUTHOVER PARTNERSHIP

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

T he engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

W e identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our knowledge and experience of the charity and faith sector;

W e focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, the Charities Act 2011, taxation legislation, data protection, employment, environmental and health and safety legislation;

W e assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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THE SOUTHOVER PARTNERSHIP

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022

Unrestricted Unrestricted
funds
funds
2022
2021
Notes
£
£
Income and endowments from:
Donations and legacies 3 500
33,791
Charitable activities 4 3,168,919
2,697,352
Other income 5 6,328
42,331
Total income 3,175,747
2,773,474
Expenditure on:
Charitable activities 6 2,922,204
2,914,585
Net income/(expenditure) for the year/
Net movement in funds 253,543
(141,111)
Fund balances at 1 September 2021 288,401
429,512
Fund balances at 31 August 2022 541,944
288,401

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.

THE SOUTHOVER PARTNERSHIP

BALANCE SHEET

AS AT 31 AUGUST 2022

Notes
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds		 2022
£
£
101,922
1,111,480
181,906
1,293,386
(853,364)
440,022
541,944
541,944
541,944		 2021
£
£
118,917
762,149
243,179
1,005,328
(835,844)
169,484
288,401
288,401
288,401

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2022, although an audit has been carried out under section 144 of the Charities Act 2011.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation 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 with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

25 May 2023

The financial statements were approved by the Trustees on .........................

..............................

T H Chia Trustee

Company registration number 10539109

THE SOUTHOVER PARTNERSHIP

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022

Notes
Cash flows from operating activities
Cash absorbed by operations
17
Investing activities
Purchase of tangible fixed assets
Proceeds on disposal of tangible fixed
assets
Net cash used in investing activities
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
(9,311)
-		 £
(51,962)
(9,311)
-
(61,273)
243,179
181,906		 2021
£
(33,004)
23,800		 £
(4,895)
(9,204)
-
(14,099)
257,278
243,179

THE SOUTHOVER PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

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, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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. 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.

THE SOUTHOVER PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

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 the statement of financial activities .

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.

THE SOUTHOVER PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

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
2022 2021
£ £
Donations and gifts 500 31,994
Donated goods and services - 1,797

THE SOUTHOVER PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

4 Charitable activities

2022
2021
£
£
Fees generated from education services 3,168,919
2,697,352
Other income
Unrestricted Unrestricted
funds
funds
2022
2021
£
£
Net gain on disposal of tangible fixed assets -
9,467
Other income 6,328
32,864
6,328
42,331
Charitable activities
Charitable
Charitable
Expenditure
Expenditure
2022
2021
£
£
Staff costs 2,187,625
2,130,987
Depreciation and impairment 26,305
38,011
Staff costs and DBS 72,642
51,629
Student educational materials, therapy and other costs 121,018
113,864
Premises costs 205,176
205,232
Software, licences and website costs 41,488
47,899
Exam costs 4,410
5,929
Legal fees 10,584
900
Insurances 28,065
33,965
2,697,313
2,628,416
Share of support costs (see note 7) 213,619
272,968
Share of governance costs (see note 7) 11,272
13,201
2,922,204
2,914,585

5 Other income

6 Charitable activities

THE SOUTHOVER PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

7 Support costs

Support
costs
Governance
costs
£
£
Staff costs
166,860
-
Office and administrative
costs
31,736
-
Finance Management
costs
15,023
-
Trustee meeting costs
-
3,272
Audit and accounts
preparation costs
-
8,000
Charity set up costs
-
-
213,619
11,272
Analysed between
Charitable activities
213,619
11,272		 2022
£
166,860
31,736
15,023
3,272
8,000
-
224,891
224,891		 Support
costs
Governance
costs
£
£
248,189
-
24,779
-
-
-
-
3,303
-
6,768
-
3,130
272,968
13,201
272,968
13,201		 2021
£
248,189
24,779
-
3,303
6,768
3,130
286,169
286,169

Governance costs includes payments to the auditors of £7,068 (2020: £ 7,470) accrued for audit and accounts preparation fees including irrecoverable VAT .

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

Administration and support
Teaching
Leadership
Total		 2022
Number
8
95
4
107		 2021
Number
8
104
7
119

THE SOUTHOVER PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

9
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2022
2021
£
£
2,148,907
2,168,488
162,437
162,317
43,141
48,371
2,354,485
2,379,176

Key Management Personnel comprises the Senior Leadership Team. The total cost of Key Management Personnel for the year ended 31 August 2022 was £288,150 (2021: £337,714) including employer's national insurance and pension contributions.

The number of employees whose annual remuneration was more than £60,000 is as follows:

2022 2021
Number Number
80,001 - 90,000 1 1

Contributions totalling £ 6,598 (2021: £1,018) were made to defined contribution pension schemes on behalf of employees whose emoluments exceed £60,000.

10 Tangible fixed assets

Cost
At 1 September 2021
Additions
At 31 August 2022
Depreciation and impairment
At 1 September 2021
Depreciation charged in the year
At 31 August 2022
Carrying amount
At 31 August 2022
At 31 August 2021		 Leasehold
land and
buildings
Fixtures and
fittings
£
£
198,412
67,014
6,790
2,521
205,202
69,535
89,438
45,282
35,977
7,979
125,415
53,261
79,787
16,274
87,384
17,678		 Computers Motor vehicles
£
£
72,331
29,054
-
-
72,331
29,054
46,721
29,054
19,749
-
66,470
29,054
5,861
-
13,855
-		 Total
£
366,811
9,311
376,122
210,495
63,705
274,200
101,922
118,917

THE SOUTHOVER PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

10
Tangible fixed assets
11
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
12
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
13
Trade creditors
Other creditors
Accruals and deferred income
13
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:		 (Continued)
2022
2021
£
£
1,038,660
695,648
-
1,373
72,820
65,128
1,111,480
762,149
2022
2021
£
£
22,888
33,255
690,506
731,063
118,846
38,654
13,194
7,048
7,930
25,824
853,364
835,844
2022
2021
£
£
690,506
731,063
2022
2021
£
£
690,506
731,063

THE SOUTHOVER PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

13 Deferred income (Continued)
Deferred income at 1 September 2021 731,063 611,003
Released from previous periods (731,063) (611,003)
Resources deferred in the year 690,506 731,063
Deferred income at 31 August 2022 690,506 731,063

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 £43,141 (2021 - £48,371).

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		 2022
£
44,784
169,567
225,000
439,351		 2021
£
47,789
134,351
306,667
488,807

16 Related party transactions

There were no disclosable related party transactions during the year (2021 - none) .

THE SOUTHOVER PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

17
Cash generated from operations
2022
£
Surplus/(deficit) for the year
253,543
Adjustments for:
Gain on disposal of tangible fixed assets
-
Depreciation and impairment of tangible fixed assets
26,305
Movements in working capital:
(Increase) in debtors
(349,330)
Increase in creditors
58,077
(Decrease)/increase in deferred income
(40,557)
Cash absorbed by operations
(51,962)		 2021
£
(141,111)
(9,467)
38,011
(38,191)
25,803
120,060
(4,895)

18 Analysis of changes in net funds

The charity had no debt during the year.

19 Non-audit services provided by auditor

In common with many businesses of our size and nature we use our auditor to assist with the preparation of the financial statements .