**Company number: 01162325 Charity number: 269003** 

**NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED (LIMITED BY GUARANTEE)** 

## **FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 AUGUST 2021** 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **COMPANY INFORMATION** 

**COMMITTEE OF MANAGEMENT** 

R Bailey (Chairman) K Pearson (resigned 3 November 2021) S Chia Father A Eburne (Vice Chairman) T Bailey A Spray G Holland Canon D Paul K Long (appointed 18 January 2021) 

**ADDITIONAL MEMBERS OF THE BOARD OF MANAGEMENT** 

Rob Thornton (Headmaster) 

**BURSAR** Mrs A Warne **COMPANY NUMBER** 01162325 **CHARITY NUMBER** 269003 **REGISTERED OFFICE** 147 Dereham Road Norwich NR2 3TA **AUDITORS** Price Bailey LLP Chartered Accountants Statutory Auditors Anglia House 6 Central Avenue St Andrews Business Park Norwich NR7 0HR **BANKERS** HSBC Bank plc 18 London Street Norwich NR2 1LG **KEY MANAGEMENT PERSONNEL** Rob Thornton (Headmaster) Louise Campbell (Deputy Head) Kim Laudan (Deputy Head) Allison Warne (Bursar) 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **CONTENTS** 

**Page Report of the Committee of Management** 4 - 12 **Auditors’ report** 13 - 15 **Statement of financial activities Balance sheet Statement of cash flows Notes** 19 - 30 



**NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

**REPORT OF THE COMMITTEE OF MANAGEMENT (INCORPORATING A DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 AUGUST 2021** 

The Committee is pleased to submit its annual report and financial statements for the year ended 31 August 2021. 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

**Charity number** 269003 **Company number** 01162325 **Directors and trustees** R Bailey (Chairman) K Pearson (resigned 3[rd] November 2021) S Chia Father A Eburne (Vice Chairman) T Bailey A Spray G Holland Canon D Paul K Long (appointed 18 January 2021) 

## **Committee of Management** 

The directors of the charitable company (“the school”) are the members of the Committee of Management and its trustees for the purpose of company and charity law. 

## **Members** 

All members of the Committee of Management are members of the charitable company.  The charitable company has no share capital and the liability of members is limited by the guarantee to contribute a maximum of £1 to the assets of the company in the event of its winding up. At 31 August 2021, the charitable company had 8 such members (2020: 9). 

In the event of the charitable company being wound up with surplus funds, no members shall be entitled to participate in the distribution of the surplus. The funds remaining after settlement of all liabilities will be transferred to like organisations pursuing similar charitable objectives. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

Notre Dame Preparatory School is a company limited by guarantee and registered under the Companies Act 2006, registration number 01162325.  It is a registered charity, charity number 269003. The governing instrument for Notre Dame Preparatory School is its Memorandum and Articles of Association. 

The governing body of the company is the Committee of Management and they act as trustees for the charity. The Committee is responsible for controlling the management and administration of the company. 

## **Risk management** 

The trustees have identified the major risks to which they believe the school is exposed.   Risks include but not limited to: Financial risk, safeguarding children, Covid-19, accidental injury, school trips, risk of vandalism, fire, intruders and trespassers.  The School has robust policies, risk assessments and procedures in place to minimise risks within the school. See examples of risk management for the key areas below: 

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## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **REPORT OF THE COMMITTEE OF MANAGEMENT (INCORPORATING A DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 AUGUST 2021** 


**----- Start of picture text -----**<br>
Key Risk area  Safeguards in place<br>Safeguarding Children   Regular staff training<br> Compliance with the ISI regulatory requirements<br> Safeguarding audits both internal and external<br> Agenda point at every senior management meeting<br> Three members of staff with up to date DSL training<br> Safer recruitment training<br> Regular monitoring of the Single Central Register<br> First aid policy<br> Medical emergency planning<br> 30+ staff trained in first aid<br> Robust procedures in place for the administration of medication<br> Robust procedures in place for children with allergies and specific<br>dietary needs<br> Missing child policy<br> Deputy Head (Pastoral) co-ordinates pupil welfare support and<br>initiatives.<br>Financial   Appropriate scrutiny and authorisation of transactions<br> Regular financial reporting and projections to the governing body<br>and the SMT<br> Accountants audit control<br> SAGE software support<br> Financial risk assessment in place<br>Fire   Fire policy in place<br> Fire risk assessment in place that is reviewed regularly<br> Regular monitoring of fire alarm systems and equipment<br> Regular fire drills<br> Regular servicing and testing of electrical and gas systems<br> Daily site walks<br> Compliance with the ISI regulatory requirements<br>Health & Safety General   Robust Health & Safety policy in place<br> Risk assessments completed for each area of risk.  Departmental<br>review takes place when anything changes or annually for no other<br>reason.<br> Governor led Health & Safety Committee<br> Regular monitoring of key areas such as Fire, First Aid, COSHH,<br>Legionella, Asbestos and Food Safety<br>Intruders   Main entry gates and doors controlled by magnetic locks and a<br>buzzer and intercom system<br> Site gates locked immediately after pick up and drop off<br> Alarm system installed with is monitored externally<br> Risk assessment in place<br>School Trips   Visits & Trips Policy in place<br> Individual risk assessments completed for each trip by the event lead<br> Missing child policy and protocols<br>Covid-19    Covid-19 policy in place<br> Covid-19 risk assessment in place that is updated regularly<br> Additional cleaning protocols<br> Following latest government and DFE advice<br> Outbreak Management Plan in place and critical incident monitoring<br> Visitors inside the building restricted<br>**----- End of picture text -----**<br>


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**NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **REPORT OF THE COMMITTEE OF MANAGEMENT (INCORPORATING A DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 AUGUST 2021** 

|HR & Staff Welfare|<br>SAGE HR support<br><br>Staff training – 3 year development plan in place<br><br>Member of ISBA<br><br>Staff induction procedures<br><br>Regular updates to staff and inset training<br><br>SMT have an open door policy<br><br>Deputy Head (Pastoral) – co-ordinates staff welfare support<br><br>Staff mental health initiatives<br><br>Staff handbook<br><br>Staff code of conduct and behaviour policy|
|---|---|
|Other General Points of Note|<br>Regular governor, SMT and staff meetings are held in order to<br>head off problems before they become an issue<br><br>Risk register is in place which is updated at regular intervals.<br><br>The school is a member of The Independent Schools Association<br>(ISA), The Independent Schools Bursars’ Association (ISBA) and<br>The Association of Governing Bodies of Independent Schools<br>(AGBIS).  These organisations offer a wealth of support to the<br>school from, general guidance over the telephone to providing<br>template documents for key policies and information relating to best<br>practice.<br><br>The governing body is made of members from varying<br>backgrounds and skill sets.  This breadth of experience and<br>knowledge feeds into the school and helps to identify areas for<br>improvement and ensure that the school is moving forward safely<br>and effectively.|



In addition, from time to time, the school will instigate an independent audit of an area of the school compliance i.e. Health & Safety and Safeguarding.  Such audits ensure that the schools procedures are independently scrutinised and help keep the exposure to potential risk low. 

## **Appointment of trustees** 

All members are circulated with a notice prior to the AGM which notifies them of the members who retire by rotation and if eligible, offer themselves for re-election. 

## **Trustee induction and training** 

All future trustees will receive briefing as to their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes and recent financial performance of the charitable company. 

## **Arrangements for setting pay and remuneration of key management personnel** 

The Senior Leadership Team remuneration is set according to industry standards pertaining to school size and numbers of children on roll. The headmaster is responsible for setting the deputy heads’ and bursar’s pay, and the governing body is responsible for setting the headmasters pay in accordance with DFE guidelines. 

## **Organisation** 

The Committee meets regularly and a manager is appointed by the trustees to manage the day to day operations of the charitable company. 

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## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **REPORT OF THE COMMITTEE OF MANAGEMENT (INCORPORATING A DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives** 

The objective of the school is the advancement of education in a Catholic context, but to children of all faiths or none. 

Originally founded by the Sisters of Notre Dame in Surrey Street, Norwich in 1864, the school was transferred to Dereham Road in August 1973.  The Preparatory School maintains the traditions and spirit of the Sisters of Notre Dame de Namur. 

## **Mission Statement** 

As a Roman Catholic school we endeavour to nurture a love of God through Jesus Christ in all our children.  The school has an ethos of love and care and embraces children of all faiths. 

Children are treated as individuals, respected, nurtured and encouraged to embrace and fulfil their potential in all areas of school life. 

We foster positive relationships with peers and adults, and strive to engender mutual respect in all. 

We provide a wide-range of extra-curricular activities in order to develop the talents of each child _._ 

The primary purpose of Notre Dame Preparatory School is the advancement of education for children. Inextricably linked with this purpose is the aim of contributing to the public good. Notre Dame Prep School aims to contribute considerable public benefit to the local, national and international community. 

Pupils are encouraged and expected to develop an understanding of, and a commitment to, public benefit values as an integral part of their education. Pupils absorb these values both consciously and unconsciously and the School tries to deliver an appropriate programme in both a structured and unstructured way, and to lead by example. 

The school measures its success using national standardised scores for children in their last year and before embarking on secondary school education. SATS scores pre-Covid indicate that Notre Dame is the leading Preparatory School in East Anglia although the school prides itself on the happy and well-rounded young people that generally are able to access secondary schools of choice. 

## **PUBLIC BENEFIT** 

Perhaps the greatest public benefit that Notre Dame Prep School can offer is the affordable provision of an education that maximises the likelihood of its pupils developing into principled, informed, open minded and confident citizens who respect the beliefs of others and who are determined to make a positive contribution to society. As a Catholic School we actively encourage a multi-cultural and multi-faith approach. The trustees have had due regard to the Charity Commission guidance on public benefit. 

## **Public benefit at local level** 

1. Education at Notre Dame Prep School 

The School educates approximately 200 children from the local area. The School provides a co-educational, 

academic, primary school and nursery education. 

- Entry to Notre Dame Prep School is open to all children, irrespective of creed or culture. 

- The entrance procedure is designed to be as fair as possible. 

- The school strives to keep the fees at a level that makes them affordable. 

- Bursaries are available for parents who need financial help and support. Approximately 17% of parents receive some help. The total bursaries given in the year amounts to £79,964 (2020: £83,093). 

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**NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **REPORT OF THE COMMITTEE OF MANAGEMENT (INCORPORATING A DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 AUGUST 2021** 

## 2. Active Service by Pupils 

- Children sing and perform in local churches and have also entertained in a residential home for the elderly and at the Bishop’s garden to support Door to Door.  More able choristers prepare for induction into the school’s Schola Cantorum and perform at the Cathedral. 

- Children raise funds for various charities e.g. Save the Children, Book Trust, Cafod and Street Child. 

- Food collection for the Salvation Army and Food Bank at Christmas. 

## 3. Active Service by Staff 

- Members of staff are involved in and accompany children when undertaking charitable works. 

- Individual members of staff serve or have served the local community in the following areas: reading in church, Eucharistic ministerial duties, coaching skills at local sports clubs, performing in concerts and singing in choirs, local charity work and playing local sport. 

## 4. Links with other organisations 

- Opportunities are provided by the school for UEA PGCE students to undertake their training. We usually cater for as many as 6 students per year. 

- The school provides training opportunities for college students and we provide many placements during the year. 

- We provide apprenticeship opportunities in partnership with Norwich City College. 

- Work experience opportunities are offered to local secondary school pupils. 

- We provide opportunities for candidates wishing to pursue a career in teaching to do observations prior to University. 

- We provide our premises free of charge to the Christian church next door on a regular basis. 

## 5. Charity fundraising 

- The whole School community is involved in raising money for local charities as well as national and international ones i.e. Door to Door, World Vision, CAFOD and Street Child. 

- A ball was held in March 2020 in aid of Street Child and Finbar’s Force which raised significant funds for these charities 

- Food Bank collection point. 

The school understands its duty to protect the public, including vulnerable people, from unreasonably intrusive or persistent fundraising approaches and undue pressure to donate, but does not currently fundraise from the public apart from the above noted activities, nor uses any internal fundraisers or external fundraising agencies for either telephone or face-to-face campaigns. No fundraising complaints were received during the year. 

## 6. Sport 

- Notre Dame Prep School is an active member of the Norwich Schools Sports Partnership which brings together state and independent schools. 

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**NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **REPORT OF THE COMMITTEE OF MANAGEMENT (INCORPORATING A DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 AUGUST 2021** 

## 7. General Facilities 

- The school car park is used weekly by our neighbours; The Seventh-Day Adventist Church regularly use the whole school including our kitchen facilities for meetings and celebrations. They also use the field for picnics and play for their children after their Saturday Service. We do not charge for these facilities. 

- The school facilities are used for external music, speech and drama exams and activities for outside pupils at no charge. 

- Our holiday club is run by an external company, United Education on the school premises.  United education offer holiday camps for children from the age of 3 to 11 and the club is open to children who do not usually attend Notre Dame Prep School. 

## 8. The Environment 

- The School endeavors to reduce its own waste and now recycles approximately 75% of all waste products through our local waste contractor. 

- The school has become ‘greener’ through the purchasing of wasteland which has become a green area through the planting of new shrubs, a lawn, plants and flowers. This area is continually developed and improved. 

- The school has become ‘greener’ through new hedges and planters; development continues in this respect. 

- Six trees have been planted on the site to replace the three that needed to be felled for safety reasons. 

- During the 2018/19 academic year the school has reduced its use of single use plastic considerably across the whole school from the kitchen to the classroom and at PTA events. 

- The school building recently had an energy performance survey completed.  As a result the school is looking into how to improve insulation in the older parts of the school therefore reducing heat loss and energy usage; this has been updated in the school’s development plan. 

## **Public benefit at national level** 

- Children in the independent sector are not educated at the taxpayers’ expense, releasing funds for use elsewhere. 

## **ACHIEVEMENTS AND PERFORMANCE** 

## **Review** 

There have been no changes in activities during the year, (although some are still being impacted by Covid-19), all of which are pursued for charitable purposes. 

Notre Dame Prep School is now the leading Prep School in East Anglia according to the Times Top 100 Prep Schools.  This table is driven by SATs results taken by our Year 6 cohort at the end of each academic year. Although SATs have not taken place for the last couple of years due to Covid standards have been maintained; this is a proud achievement considering the school is non-selective and represents dedication and hard work from staff and pupils alike. 

In response to Covid-19 the school launched its online learning provision from scratch in March 2020.  This online platform has continued to be used in the past year when required and this online teaching resource has gone from strength to strength. In addition to this the school has implemented robust health and safety procedures which have been updated regularly in line with the latest guidance to protect the whole school community from any unnecessary risk.  All of teachers and support staff have worked tirelessly to deliver quality education online and in school and ensure that the school environment is as clean and safe as it can be during this unprecedented time. 

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## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **REPORT OF THE COMMITTEE OF MANAGEMENT (INCORPORATING A DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 AUGUST 2021** 

The 2019/20 academic year saw the complete rebuild of the schools website and this continues to be updated regularly.  This is a key shop window for the school and contains essential information for existing parents and potential new admissions alike along with all the required regulatory information.  The new layout makes the website much easier to navigate and also contains photographs of key personnel including how to contact the DSL. 

Staff and pupil welfare have always been front and centre at Notre Dame Prep School but the pandemic highlighted that we could do more to support this.  The senior management team have been working hard to implement wellbeing sessions for both pupils and staff and give extra support where necessary.  A mental wellbeing strategy is in place headed up by the Deputy Head Pastoral.  This helps to ensure that pupils, parents and staff alike have people to go to and information at hand to assist them when required; a regular PSHE newsletter is sent out to parents.   Wellbeing is screened in all children from Prep 2 upwards using Butler Self Image Profiles. 

In previous years we have invested substantially in the school building in order to improve facilities for our school community: 

To facilitate improved lunch provision the school invested approximately £220,000 in building and fitting out a new professional kitchen.  The work took place during the summer of 2017 ready for the start of the 2017/18 academic year.  The kitchen has provided the school with the opportunity to provide fresh, healthy cooked food on site for all pupils. 

During the summer of 2019 the school invested a further £350,000 in an extension that was added to the school replacing the existing mobile classroom.  The extension incorporated new office and classroom space and allowed for the library to be moved downstairs and extended.  Not only did the extension improve the facilities and learning space for the pupils the addition of a purpose built reception/office area improved security. 

The Statement of Financial Activities is set out in page 14 and shows the income and application of resources for the year. 

## **FINANCIAL REVIEW** 

Total income for the year was £1,177,618 compared to £1,228,454 in 2020 and total costs were £1,290,577 compared to £1,327,930 in 2020. 

The above has resulted in a net deficit during the year on unrestricted funds of £112,761 (2020: deficit of £99,244). The balance on the general fund at 31 August 2021 was £947,336 (2020: £1,060,097).  These funds are held to support the future development of the charitable activities. 

The balance on restricted funds at 31 August 2021 was £448 (2020: £646). 

At the year end, the school had 183 pupils (2020: 198). At the end of the 2018/19 academic year, the double year group has been in the school since 2012 left.  This meant that the school returned to single form entry from September 2019, therefore, a reduction in pupil numbers has been seen.  In addition to this the pressure of Covid19 has seen numbers dip a little lower than expected especially within the Nursery.  The school will endeavour, to increase pupil numbers to the 200 level and is currently evaluating the viability of increasing the number of weeks the Nursery provision is available. 

The school was excited by the prospect of purchasing a neighbouring property with the intention of using this building to afford more space in the school and enable the pupil cohort to extend to years seven and eight.  The property was purchased at auction in October 2019 but unfortunately the schools plans did not come to fruition as change of use was not granted by the City Council.  Following this disappointment a decision was made to renovate the property and sell on.  The financial investment in the Adelaide Street property has nevertheless been a solid one and the time and effort spent on the renovations has been worthwhile.  The property is now in the process of being sold and this investment will realise a small surplus. 

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**NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **REPORT OF THE COMMITTEE OF MANAGEMENT (INCORPORATING A DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **Reserves policy** 

The policy set by the Committee is as follows: 

- 3 months running costs, which amounts to approximately £350,000 is to be kept in reserve for unforeseen fiscal pressures. 

- Reserves should provide funds to help meet the ongoing repair work needed to maintain the school building. 

As at 31 August 2021 unrestricted funds were £947,336 (2020: £1,060,097) and free reserves (defined as net current assets within unrestricted funds) were £394,874 (2020: £274,026). The Committee believes the current level of reserves needs to be maintained given the policy above and budgets will be set over the coming years to achieve this. 

## **GOING CONCERN, FUTURE DEVELOPMENTS AND EVENTS SINCE THE END OF THE YEAR** 

Covid-19 has had a significant impact on the school’s activities since 23rd March 2020.  During the first lockdown in March 2020 and the second lockdown in January 2021 the school continued to offer onsite education for vulnerable children and pupils of key/critical workers. 

For those children not physically attending school, online education is provided. This has resulted in a significant reduction in the fees charged for the summer term 2020 and a freeze on fees for the 2020/21 academic year.  In addition to this, the pandemic has limited what we can offer with respect to extra-curricular clubs, after school care and holiday clubs, all of which has an impact on income. 

From the beginning of the Covid-19 pandemic the trustees of the finance committee have carefully considered the financial impact on the charity.  All decisions have been based on full and proper financial projections and have shown that the business has sufficient cash reserves to maintain viability for at least one year ahead from the date of approval of these accounts. The pandemic has brought home the importance of having a well-planned and thought through reserves policy and this crisis has proven that the NDPS reserves policy has stood the school in good stead during this difficult time and afforded a solid buffer. 

There have been a number of positive impacts from Covid-19 as well and we will move forward with these as we come out the other side of the pandemic: 

- Online learning is now an embedded part of the schools offer and will continue to be used moving forward to enhance the schools offer to pupils. 

- Online meetings are often much more efficient an effective than those in person and will continue. 

- The school has made huge strides with respect to pupil and staff wellbeing and its commitment to improve mental health. 

The school is looking to the future and will shortly begin a consultation with the parents and staff to look into the viability of offering a 50 week a year nursery.  This offer could be facilitated on the current site and would result more staff being employed from the local area. 

## **Statement of trustees' responsibilities** 

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

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## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **REPORT OF THE COMMITTEE OF MANAGEMENT (INCORPORATING A DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 AUGUST 2021** 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.  In preparing these financial statements, the directors are required to: 

1. select suitable accounting policies and then apply them consistently; 

2. observe the methods and principles in the Charities SORP 2019 (FRS 102); 

3. make judgments and accounting estimates that are reasonable and prudent; 

4. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

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

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

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

## **Statement of disclosure to auditors** 

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

So far as that Trustee is aware, 

- there is no relevant audit information of which the charitable company's auditors are unaware, and 

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

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

## **AUDITORS** 

A resolution proposing that Price Bailey LLP be reappointed as auditors of the school will be put to the members at the Annual General Meeting. 

By order of the Board 

**Father A Eburne** Director **/** Trustee Date: 

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## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **Opinion** 

We have audited the financial statements of Notre Dame Preparatory School (Norwich) Ltd (the ‘charitable company’) for the year ended 31 August 2021 which comprise Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and the related notes, 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: 

- give a true and fair view of the state of the charitable company’s affairs as at 31 August 2021, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

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 charitable company'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 report of the committee of management, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the report of the committee of management. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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. 

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## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the report of the Committee of Management for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the report of the Committee of Management has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the report of the committee of management. 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of Trustees’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit **.** 

- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the report of the Committee of Management and from the requirement to prepare a strategic report. 

## **Responsibilities of trustees** 

As explained more fully in the trustees’ responsibilities statement set out on page 11, the trustees (who are also the directors of the charitable company for the purposes 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 charitable company’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 we report in accordance with regulations made under that Act. 

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. 

Page 14 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **Extent to which the audit was considered capable of detecting irregularities, including fraud:** 

We gained an understanding of the legal and regulatory framework applicable to the Charity and the sector in which it operates and considered the risk of the Charity not complying with the applicable laws and regulations including fraud in particular those that could have a material impact on the financial statements.  This included those regulations directly related to the financial statements, including financial reporting, and tax legislation.  In relation to the operations of the Charity this included compliance with the Charities Act 2011 and SORP 2019. 

The risks were discussed with the audit team and we remained alert to any indications of non-compliance throughout the audit.  We carried out specific procedures to address the risks identified. These included the following: 

- We reviewed systems and procedures to identify potential areas of management override risk. In particular, we carried out testing of journal entries and other adjustments for appropriateness, and evaluating the business rational of any large or unusual transactions to determine whether they were significant to our assessment. 

- We reviewed key controls, authorisation procedures and decision making processes for any unusual or one-off transactions. 

- We reviewed minutes of Committee of Management meetings and other relevant sub-committees for any evidence of instances of fraud or non-compliance. 

- We made enquiries with the senior management team to identify laws and regulations applicable to the Charity. 

- We reviewed the risk management processes and procedures in place, including a review of the risk register and cyber security risk assessment. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-theaudit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilities-for. The description forms part of our auditor’s report. 

## **Use of our report** 

This report is made solely to the charity’s trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity’s Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

Helena Wilkinson (Senior Statutory Auditor) For and on behalf of **PRICE BAILEY LLP** Chartered Accountants Statutory Auditors Anglia House 6 Central Avenue Thorpe St Andrew NR7 0HR 

## **Date:** 

Page 15 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

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

|||||**Total**|**Total**|
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**funds**|**funds**|
||**Notes**|<br>**funds**|**funds**|**2021**|**2020**|
|||**£**|**£**|**£**|**£**|
|**INCOME**||||||
|Grants and donations|3|-|-|-|250|
|Income from charitable activities|4|1,166,137|-|1,166,137|1,132,495|
|Other income (CJRS)||-|-|-|93,020|
|Other income (Profit on disposal of investment)||10,550|-|10,550|-|
|Investment income|5|931|-|931|2,689|
|||**________**|**_______**|**________**|**_______**|
|**TOTAL INCOME**||1,177,618|-|1,177,618|1,228,454|
|||________|_______|_______|_______|
|**EXPENDITURE**||||||
|**Expenditure on charitable activities:**||||||
|Operation of the school|6|<br>1,290,379|198|1,290,577|1,327,930|
|||________|_______|_______|_______|
|**NET (EXPENDITURE) IN THE YEAR**||(112,761)|<br>(198)|(112,959)|(99,476)|
|**BEING NET MOVEMENT IN FUNDS**||||||
|Funds brought forward||1,060,097|646|1,060,743|1,160,219|
|||_______|_______|_______|_______|
|**TOTAL FUNDS CARRIED FORWARD**||947,336|448|947,784|1,060,743|



The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations. There are no recognised gains or losses other than the net expenditure for the year. 

The notes on pages 19 to 30 form part of these financial statements. 

Page 16 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED REGISTERED NUMBER: 01162325** 

## **BALANCE SHEET** 

## **AS AT 31 AUGUST 2021** 

|**Note**<br>**£**<br>**FIXED ASSETS**<br>Tangible assets<br>11<br>**CURRENT ASSETS**<br>Investments<br>12<br>-<br>Debtors<br>13        35,508<br>Cash at bank and in hand<br>547,307<br>________<br>582,815<br>**CREDITORS:** **AMOUNTS FALLING DUE**<br>**WITHIN ONE YEAR**<br>14<br>(187,941)<br>________<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT LIABILITIES**<br>**FUNDS**<br>Restricted funds<br>15<br>Unrestricted funds<br>_<br>**TOTAL FUNDS**|**2021**<br>**2020**<br>**£**<br>**£**<br>**£**<br>552,908<br>594,873<br>191,844<br>44,125<br>379,115<br>________<br>615,084<br>(149,214)<br>________<br>394,874<br>465,870<br>_______<br>________<br>947,782<br>1,060,743|
|---|---|
||448<br>646<br>947,336<br>1,060,097<br>_______<br>________<br>947,784<br>1,060,743|



These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime within Part 15 of the Companies Act 2006. The financial statements were approved by the Board of Trustees on                             and signed on their behalf by: 

**Father A Eburne** Director **/** Trustee 

The notes on pages 19 to 30 form part of these accounts. 

Page 17 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2021** 

|**Cash used in operating activities**<br>Net movement in funds<br>Add back depreciation charge<br>Deduct interest income shown in investing activities<br>(Profit) on sale of fixed asset investment<br>Decrease / (increase) in debtors<br>Increase / (decrease) in creditors<br>**Net cash used in operating activities**<br>**Cash flows from investing activities**<br>Interest income<br>Purchase of tangible fixed assets<br>Proceeds from sale of fixed asset invesment<br>**Cash used in investing activities**<br>**Increase / (decrease) in cash and cash equivalents in the year**<br>Cash and cash equivalents at the beginning of the year<br>**Total cash and cash equivalents at the end of the year**<br>**Cash and cash equivalents consists of:**<br>Cash at bank and in hand<br>**Cash and cash equivalents at 31 August 2021**|**2021**<br>**£**<br>(112,959)<br>76,390<br>(931)<br>(10,550)<br>8,617<br>38,727<br>________<br>(706)<br>________<br>931<br>(34,427)<br>202,394<br>________<br>168,898<br>________<br>168,192<br>________<br>379,115<br>547,307<br>________<br>168,192<br>547,307<br>547,307<br>________|**2020**<br>**£**<br>(99,476)<br>80,703<br>(2,689)<br>-<br>(5,549)<br>(138,422)<br>________<br>(165,433)<br>________<br>2,689<br>(247,894)<br>-<br>________<br>(245,205)<br>________<br>(410,638)<br>________<br>789,753<br>379,115<br>________<br>(410,638)<br>379,115<br>379,115<br>________|
|---|---|---|



The notes on pages 19 to 30 form part of these accounts. 

Page 18 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** 

## **1 CONSTITUTION** 

The charitable company is a registered charity and is limited by guarantee. The liability of each of the members is limited to £1 each. The registered office is 147 Dereham Road, Norwich, Norfolk, NR2 3TA. 

At 31 August 2021, the charitable company had 9 such members (2020: 9). 

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest pound. The company is incorporated in England and Wales. 

## **2 ACCOUNTING POLICIES** 

The significant accounting policies used in the preparation of these financial statements are: 

## **2.1     BASIS OF PREPARATION** 

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

The charity constitutes a public benefit entity as defined by FRS 102. 

## **2.2    GOING CONCERN** 

The financial statements have been prepared on a going concern basis.  Covid-19 has clearly had a significant impact on the school’s activities since 23rd March 2020 and the school has seen a reduction in income as a direct result, however, full and proper financial projections have been completed and confirm that the business has sufficient cash reserves to maintain viability for at least one year from the date of these accounts. 

New admission enquiries continue to come forward indicating that pupil numbers are likely to be maintained and therefore the financial future of the school secured. In addition to this the school continues to look to the future and move forward and with a plan to consult on the viability of a 51 week a year nursery.  This nursery provision will have the potential to boost pupil numbers in the EYFS and it would be hoped that this would feed through to the main school also. 

## **2.3    TUITION FEES** 

Tuition fees represent school fees and similar income charged which are all within the United Kingdom. 

## **2.4 DONATIONS** 

Donations are accounted for on a receivable basis in accordance with the Statement of Recommended Practice for Charities. 

## **2.5 GRANT INCOME** 

Income from local authority grants are recognised when the charity has entitlement to the funds, any performance conditions attached to the grant have been met, it is probably that the income will be received, and the amount can be measured reliability and is not deferred. 

## **2.6     INTEREST RECEIVEABLE** 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. 

Page 19 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **2.7   FUND ACCOUNTING** 

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

- Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the term of an appeal. 

## **2.8    EXPENDITURE** 

Expenditure is recognised on an accruals basis as a liability is incurred.  Expenditure includes VAT which cannot be recovered, and is reported as part of the expenditure to which it relates: 

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

- Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. 

- All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource.  Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis. 

## **2.9 STAFF TERMINATION COSTS** 

Redundancy and termination costs are recognised as an expense in the Statement of Financial Activities and a liability on the Balance Sheet immediately at the point the charity is demonstrably committed to either: 

- Terminate the employment of an employee before normal retirement date; or 

- Provide termination benefits as a result of an offer made to encourage voluntary redundancy 

## **2.10 LEASED ASSETS** 

Rentals paid under operating leases are charged against income on a straight line basis over the lease term. 

## **2.11 TANGIBLE FIXED ASSETS** 

Tangible fixed assets are stated at cost less accumulated depreciation.  Depreciation is provided on all assets other than freehold land, in order to write down the cost of each asset to its residual value over its estimated useful economic life. 

The principal annual rates used are: 

- Motor vehicles 25% reducing balance - Property improvements - Car park over remainder of 10 year lease term - Playground 15% reducing balance - Other 10% straight line - Equipment 15% reducing balance - Land Not depreciated 

Page 20 



. 

## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **2.12 INVESTMENTS** 

Investment property is included in the balance sheet at the Trustees’ best estimate of open market value. Any adjustment to market value is taken to the statement of financial activities in the year. 

## **2.13 DEBTORS** 

Trade and other debtors are recognised at the settlement amount due and prepayments are valued at the amount prepaid net of any trade discounts due. 

## **2.14 CASH AT BANK AND IN HAND** 

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

## **2.15 CREDITORS** 

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

## **2.16 FINANCIAL INSTRUMENTS** 

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

- Investments which are measured at their fair value as at the balance sheet date; 

- Fixed assets are measured at cost less depreciation; 

Financial assets include trade debtors, investment property and cash and cash equivalents. Financial liabilities include trade creditors, accruals, social security and other taxes 

## **2.17 PENSIONS** 

The school operates a defined contribution plan for non-teaching staff. A defined contribution plan is a pension plan under which the trust pays fixed contributions into a separate entity. Once the contributions have been paid the school has no further payment obligations. 

The contributions are recognised as an expense in the Statement of Financial Activity when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the school in independently administered funds. 

Retirement benefits to teaching staff of the school are provided by the Teachers’ Pension Scheme (‘TPS’). The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees’ working lives with the school in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. As stated in note 17, the TPS is a multi-employer scheme with no underlying assets to assign between employers. Consequently, the TPS is treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate. 

Page 21 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **2.18 JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY** 

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

No judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies. The key estimates made in applying the above accounting policies are the useful economic lives attributed to tangible fixed assets, and the valuation of investment property. 

There are no key assumptions concerning the future, nor key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. 

## **3 GRANTS AND DONATIONS** 

|**2021**<br>**2020**<br>**£**<br>**£**<br>Grants and donations<br>-<br>250<br>All grants and donations received are unrestricted.<br>**4**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>**2020**<br>**2021**<br>**£**<br>**£**<br>Tuition fees<br>1,070,093<br>1,039,261<br>Grants from Local Authority<br>78,151<br>80,166<br>Other income<br>17,893<br>13,068<br>________<br>_______<br>1,166,137<br>1,132,495|**2021**<br>**£**<br>-|**2020**<br>**£**<br>250|
|---|---|---|



All income from charitable activities in 2021 and 2020 was unrestricted. 

Grants were received from Norfolk County Council relating to Early Years Funding for 3 and 4 year olds. The funding agreement was for the period from 1[st] September 2020 to 31[st] August 2021 and is renegotiated annually. There were no unfulfilled conditions at the year-end. 

## **5 INVESTMENT INCOME** 

All of the charity’s investment income of £931 (2020: £2,689) arises from money held in interest bearing savings accounts and is unrestricted. 

Page 22 



## N **OTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **6 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES** 

|**Operation of the school:**<br>**2021**<br>**2020**<br>**£**<br>**£**<br>Direct costs<br>1,066,877<br>1,113,333<br>Support costs<br>223,700<br>214,597<br>_______<br>_______<br>1,290,577<br>1,327,930<br>**Analysis of support costs:**<br>**2021**<br>**2020**<br>**£**<br>**£**<br>Salaries and wages<br>120,228<br>127,870<br>Governance costs (note 7)                                                                        14,409<br>14,320<br>Advertising<br>11,493<br>5,470<br>Travelling<br>171<br>493<br>Postage & Carriage<br>240<br>459<br>Telephone<br>3,617<br>2,368<br>Office Supplies<br>459<br>662<br>IT Equipment Maintenance / Support<br>11,563<br>12,284<br>Repairs & Renewals<br>28,764<br>18,224<br>Cleaning<br>16,944<br>14,381<br>Bank Charges<br>1,693<br>2,068<br>Subscriptions<br>14,119<br>15,998<br>_______<br>_______<br>223,700<br>214,597|**Operation of the school:**<br>**2021**<br>**2020**<br>**£**<br>**£**<br>Direct costs<br>1,066,877<br>1,113,333<br>Support costs<br>223,700<br>214,597<br>_______<br>_______<br>1,290,577<br>1,327,930<br>**Analysis of support costs:**<br>**2021**<br>**2020**<br>**£**<br>**£**<br>Salaries and wages<br>120,228<br>127,870<br>Governance costs (note 7)                                                                        14,409<br>14,320<br>Advertising<br>11,493<br>5,470<br>Travelling<br>171<br>493<br>Postage & Carriage<br>240<br>459<br>Telephone<br>3,617<br>2,368<br>Office Supplies<br>459<br>662<br>IT Equipment Maintenance / Support<br>11,563<br>12,284<br>Repairs & Renewals<br>28,764<br>18,224<br>Cleaning<br>16,944<br>14,381<br>Bank Charges<br>1,693<br>2,068<br>Subscriptions<br>14,119<br>15,998<br>_______<br>_______<br>223,700<br>214,597|**Operation of the school:**<br>**2021**<br>**2020**<br>**£**<br>**£**<br>Direct costs<br>1,066,877<br>1,113,333<br>Support costs<br>223,700<br>214,597<br>_______<br>_______<br>1,290,577<br>1,327,930<br>**Analysis of support costs:**<br>**2021**<br>**2020**<br>**£**<br>**£**<br>Salaries and wages<br>120,228<br>127,870<br>Governance costs (note 7)                                                                        14,409<br>14,320<br>Advertising<br>11,493<br>5,470<br>Travelling<br>171<br>493<br>Postage & Carriage<br>240<br>459<br>Telephone<br>3,617<br>2,368<br>Office Supplies<br>459<br>662<br>IT Equipment Maintenance / Support<br>11,563<br>12,284<br>Repairs & Renewals<br>28,764<br>18,224<br>Cleaning<br>16,944<br>14,381<br>Bank Charges<br>1,693<br>2,068<br>Subscriptions<br>14,119<br>15,998<br>_______<br>_______<br>223,700<br>214,597|
|---|---|---|
||**2021**<br>**£**<br>120,228<br>14,409<br>11,493<br>171<br>240<br>3,617<br>459<br>11,563<br>28,764<br>16,944<br>1,693<br>14,119<br>_______<br>223,700|**2020**<br>**£**<br>127,870<br>14,320<br>5,470<br>493<br>459<br>2,368<br>662<br>12,284<br>18,224<br>14,381<br>2,068<br>15,998<br>_______<br>214,597|



Expenditure on charitable activities totalled £1,290,577 (2020: £1,327,930) of which £198 was restricted (2020: £232) and £1,290,379 was unrestricted (2020: £1,327,698). 

## **7 GOVERNANCE COSTS** 

|**GOVERNANCE COSTS**|||
|---|---|---|
||**2021**|**2020**|
||**£**|**£**|
|Audit and accountancy fees|5,850|6,250|
|Other legal and professional fees|8,559|8,070|
||_______|_______|
||14,409|14,320|



Page 23 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** 

**FOR THE YEAR ENDED 31 AUGUST 2021** 

|**8**<br>**NET INCOME**<br>**2021**<br>**£**<br>This is stated after charging:<br>Depreciation of owned assets<br>76,390<br>Profit on disposal of fixed assets<br>10,550<br>Operating lease payments for rent of land and buildings<br>33,000<br>Auditor’s remuneration – audit fee<br>4,800<br>Auditor’s remuneration – non-audit services<br>1,050<br>**9**<br>**STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY**<br>**MANAGEMENT PERSONNEL**<br>**2021**<br>**£**<br>The costs incurred during the year were:<br>Wages and salaries<br>724,076<br>Redundancy payments<br>-<br>Settlement agreements<br>-<br>Social security costs<br>56,929<br>Other pension costs<br>93,684<br>_______<br>874,689<br>The number of higher paid employees was:<br>**2021**<br>**No.**<br>In the band £60,001 - £70,000<br>-<br>In the band £70,001 - £80,000<br>1<br>|**8**<br>**NET INCOME**<br>**2021**<br>**£**<br>This is stated after charging:<br>Depreciation of owned assets<br>76,390<br>Profit on disposal of fixed assets<br>10,550<br>Operating lease payments for rent of land and buildings<br>33,000<br>Auditor’s remuneration – audit fee<br>4,800<br>Auditor’s remuneration – non-audit services<br>1,050<br>**9**<br>**STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY**<br>**MANAGEMENT PERSONNEL**<br>**2021**<br>**£**<br>The costs incurred during the year were:<br>Wages and salaries<br>724,076<br>Redundancy payments<br>-<br>Settlement agreements<br>-<br>Social security costs<br>56,929<br>Other pension costs<br>93,684<br>_______<br>874,689<br>The number of higher paid employees was:<br>**2021**<br>**No.**<br>In the band £60,001 - £70,000<br>-<br>In the band £70,001 - £80,000<br>1<br>|**2020**<br>**£**<br>80,703<br>-<br>33,000<br>4,700<br>1,550<br>**2020**<br>**£**<br>741,003<br>11,329<br>1,000<br>55,914<br>106,918<br>_______<br>916,164<br>**2020**<br>**No.**<br>1<br>-|
|---|---|---|
||**2021**<br>**No.**<br>-<br>1<br>||



Pension costs are allocated to activities in proportion to the related staffing costs incurred and are wholly charged to unrestricted funds. 

The directors or members of the committee of management were not paid or received any other benefits from employment with the school in the year (2020: NIL) neither were they reimbursed any expenses during the year (2020 NIL). No charity trustee received payment for professional or other services supplied to the charity (2020: NIL). 

The key management personnel of the charity comprise the Head teacher, two Deputy Head teachers and the Bursar. The total employee benefits of the key management personnel of the Charity were £235,085 (2020: £234,300). 

## **10 STAFF NUMBERS** 

The average number of employees during the year was 37 staff (2020: 42 staff). 

Page 24 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **11 TANGIBLE FIXED ASSETS** 

|**TANGIBLE FIXED ASSETS**||||||
|---|---|---|---|---|---|
|**COST**<br>At 1 September 2020<br>Additions<br>At 31 August 2021<br>**DEPRECIATION**<br>At 1 September 2020<br>Charge for the year<br>At 31 August 2021<br>**NET BOOK VALUE**<br>At 31 August 2021<br>At 31 August 2020|Motor<br>Vehicles<br>£<br>38,394<br>-<br>_______<br>38,394<br>29,290<br>2,276<br>_______<br>31,566<br>6,828|Property<br>Land Equipment<br>Improvements<br>£<br>£<br>£<br>29,000<br>258,605<br>628,065<br>-<br>14,341<br>20,084<br>_______<br>_______<br>_______<br>29,000<br>272,946<br>648,149<br>-<br>139,239<br>190,662<br>-<br>17,699<br>56,415<br>_______<br>_______<br>_______<br>-<br>156,938<br>247,077<br>29,000<br>116,008<br>401,072|||Total<br>£<br>954,064<br>34,425<br>_______<br>988,489<br>359,191<br>76,390<br>_______<br>435,581<br>552,908<br>594,873|
||9,104|29,000|119,366|437,403||



The fixed assets are used for charitable purposes. 

Property improvements include playground equipment which was purchased by way of a donation from The Parent Teacher Association. The closing net book value was £310 (2020: £482) and there was a depreciation charge of £172 (2020: £202) during the year. 

Also included in property improvements is a canopy purchased with donated funds. All restricted funds have been utilised through depreciation charges. 

Equipment includes computers with a net book value of £138 (2020: £164) and a depreciation charge of £26 (2020: £30) which have been purchased with restricted funds. 

Motor vehicles include a minibus which was partly purchased by way of donations. All restricted funds have been utilised through depreciation charges. 

These entries have been included within restricted funds. 

Page 25 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

|**12**<br>**INVESTMENTS**<br>Value bought forward at 1 September 2020<br>Disposals<br>Value carried forward at 31 August 2021<br>In the year, the school disposed of 4 Adelaide Street, Norwich.<br>**13**<br>**DEBTORS**<br>Trade debtors<br>Prepayments and accrued income<br>**14**<br>**CREDITORS – AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade creditors<br>Deposits and fees paid in advance<br>Accruals<br>Social security and other taxes<br>**DEFERRED INCOME**<br>Deferred income relates to fees paid in advance:<br>Fees in advance brought forward<br>Amounts deferred during the year<br>Amounts released during the year<br>Fees in advance carried forward|**2021**<br>**£**<br>191,844<br>(191,844)<br>_______<br>-<br>**2021**<br>**£**<br>23,442<br>12,066<br>_______<br>35,508<br>**2021**<br>**£**<br>5,364<br>149,201<br>20,457<br>12,919<br>_______<br>187,941<br>**2021**<br>**£**<br>72,557<br>102,813<br>(72,557)<br>_______<br>102,813|**2020**<br>**£**<br>191,844<br>-<br>_______<br>191,844<br>**2020**<br>**£**<br>29,551<br>14,574<br>_______<br>44,125<br>**2020**<br>**£**<br>8,882<br>115,477<br>10,929<br>13,926<br>_______<br>149,214<br>**2020**<br>**£**<br>64,777<br>72,557<br>(64,777)<br>_______<br>72,557|
|---|---|---|



Page 26 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **15 RESTRICTED FUNDS** 

|**At**<br>**1 September 2020**<br>**£**<br>Computer equipment<br>164<br>Playground<br>482<br>_______<br>646<br>**At**<br>**1 September 2019**<br>**£**<br>Computer equipment<br>194<br>Playground<br>684<br>_______<br>878|**At**<br>**Income Expenditure 31 August 2021**<br>**£**<br>**£**<br>**£**<br>-<br>(26)<br>138<br>-<br>(172)<br>310<br>_______<br>_______<br>________<br>-<br>(198)<br>448<br>**At**<br>**Income Expenditure 31 August 2020**<br>**£**<br>**£**<br>**£**<br>-<br>(30)<br>164<br>-<br>(202)<br>482<br>_______<br>_______<br>________<br>-<br>(232)<br>646|
|---|---|



The computer equipment, playground and canopy funds represent assets purchased from specific donations.  The balance reflects their net book value, held for future depreciation to be charged against. 

## **16 NET ASSETS BY FUND** 

|**NET ASSETS BY FUND**|||||
|---|---|---|---|---|
||**Unrestricted**|**Restricted**|||
|**2021**|**Funds**|**Funds**||**Total**|
||**£**||**£**|**£**|
|Fixed Assets|552,460|448||552,908|
|Current Assets|582,815|-||582,815|
|Current Liabilities|(187,941)|-||(187,941)|
||_______|_______||________|
||947,334|448||947,782<br>|
||**Unrestricted**|**Restricted**|||
|**2020**|**Funds**|**Funds**||**Total**|
||**£**||**£**|**£**|
|Fixed Assets|594,227|646||594,873|
|Current Assets|615,084|-||615,084|
|Current Liabilities|(149,214)|-||(149,214)|
||_______|_______||________|
||1,060,097|646||1,060,743<br>|



Page 27 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **17 ANALYSIS OF NET DEBT** 

|**ANALYSIS OF NET DEBT**||||
|---|---|---|---|
||**At start**|**Cash**|**At end**|
|**2021**|**of period**|**flows**|**of period**|
||**£**|**£**|**£**|
||_______|_______|________|
|Cash|379,115|168,192|547,307|



## **18 PENSION COMMITMENTS** 

There are two pension schemes in place at the year end. 

For non-teaching staff, the school operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the school in an independently administered fund. The pension cost charge represents contributions payable by the school to the fund and amounted to £20,448 (2020: £21,358). Contributions totalling £1,963 (2020: £1,748) were payable to the fund at the balance sheet date and are included in creditors. 

The charity’s academic and related staff belong to the Teachers’ pension Scheme England and Wales. This is a multi-employer defined benefit scheme. The latest actuarial valuation of the TPS related to the period ended 31 August 2019. There were no outstanding or prepaid contributions at either the beginning or the end of the financial year. 

## **Teachers’ Pension Scheme** 

The Teachers' Pension Scheme (TPS or scheme) is a statutory, unfunded, defined benefit occupational scheme, governed by the Teachers' Pensions Regulations 2010 (as amended), and the Teachers’ Pension Scheme Regulations 2014 (as amended).  These regulations apply to teachers in schools and other educational establishments, including academies, in England and Wales that are maintained by local authorities.  In addition, teachers in many independent and voluntary-aided schools and teachers and lecturers in some establishments of further and higher education may be eligible for membership. 

Membership is automatic for full-time teachers and lecturers and, from 1 January 2007, automatic too for teachers and lecturers in part-time employment following appointment or a change of contract.  Teachers and lecturers are able to opt out of the TPS. 

## **The Teachers’ Pension Budgeting and Valuation Account** 

Although members may be employed by various bodies, their retirement and other pension benefits are set out in regulations made under the Superannuation Act (1972) and Public Service Pensions Act (2013) and are paid by public funds provided by Parliament.  The TPS is an unfunded scheme and members contribute on a ’pay as you go ‘basis – contributions from members, along with those made by employers, are credited to the Exchequer under arrangements governed by the above Acts. 

The Teachers' Pensions Regulations 2010 require an annual account, the Teachers' Pension Budgeting and Valuation Account, to be kept of receipts and expenditure (including the cost of pension increases). From 1 April 2001, the Account has been credited with a real rate of return, which is equivalent to assuming that the balance in the Account is invested in notional investments that produce that real rate of return. 

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## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **18 PENSION COMMITMENTS (CONTINUED)** 

## **Valuation of the Teachers’ Pension Scheme** 

As a result of the latest scheme valuation employer contributions were increased in September 2019 from a rate of 16.4% to 23.6%. Employers also pay a charge equivalent to 0.08% of pensionable salary costs to cover administration expenses. 

The next valuation is expected to take effect in 2023. 

A copy of the latest valuation report can be found by following this link to the Teachers’ Pension Scheme website:https://www.teacherspensions.co.uk/news/employers/2019/04/teachers-pensions-valuationreport.aspx 

## **Scheme Changes** 

In December 2018, the Court of Appeal held that transitional protection provisions contained in the reformed judicial and firefighter pension schemes, introduced as part of public service pension reforms in 2015, gave rise to direct age discrimination and were therefore unlawful. The Supreme Court, in a decision made in June 2019, rejected the Government’s application for permission to appeal the Court of Appeal’s ruling and subsequently referred the case to an Employment Tribunal to determine a remedy which will need to be offered to those members of the two schemes who were subject of the age discrimination. 

Since then, claims have also been lodged against the main public service schemes including the TPS. The Department has conceded those in line with the rest of the government. In July 2020 HM Treasury launched a 12-week public consultation which will provide evidence to support the delivery of an appropriate remedy for the affected schemes, including TPS. 

A final remedy will be determined once the results of the consultation are established. 

In December 2019, a further legal challenge was made against the TPS relating to an identified equalities issue whereby male survivors of opposite-sex marriages and civil partnerships are treated less favourably than survivors in same-sex marriages and civil partnerships.  The Secretary of State for Education agreed not to defend the case.  In June 2020, the Employment Tribunal recorded its findings in respect of the claimant.  DfE is currently working to establish what changes are necessary to address this discrimination. 

Any impact of these events will be taken into account when the next scheme valuation is implemented. This is scheduled to be implemented in April 2023, based on April 2020 data. 

## **19 RELATED PARTY TRANSACTIONS** 

Legal fees totalling £882 (2020: £2,543) in respect of debt collection services and other advise were incurred during the year with Steele’s Law, a firm in which R Bailey (trustee) is a director. There was £nil outstanding at the year-end (2020: £nil). 

Miscellaneous expenditure totalling £nil (2020: £195) was incurred during the year with The Cathedral of St Johns Baptist Trust, in which Canon David Paul (trustee) is a trustee.  There was £nil outstanding at year-end (2020: £nil). 

Gardening maintenance services totalling £nil (2020: £120) were purchased during the year from Campbell Landscaping, a firm which Louise Campbell's (SMT) husband owns. There was £nil outstanding at the year-end (2020: £Nil). 

There were no other related party transactions that have occurred during the year (2020: none). 

Page 29 



## **NOTRE DAME PREPARATORY SCHOOL (NORWICH) LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **20 COMMITMENTS UNDER OPERATING LEASES** 

At 31 December 2021 the Company had future minimum lease payments under non-cancellable operating leases as follows: 

||**2021**|**2020**|
|---|---|---|
|**Land and buildings**|**£**|**£**|
|Not later than 1 year|33,000|33,000|
|Later than 1 and not later than 5 years|98,333|132,000|
|Later than 5 years|-|-|
||_______|_______|
||131,333|165,000|



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