REGISTERED COMPANY NUMBER: 01172432 {England and Wales) REGISTERED CHARITY NUMBER: 269264 REPORTOFTHE TRUSTEES AND FINAf*CIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2021 FOR WINDLESHAM SCHOOL TRUST LIMITED A COMPAYY LIMII"ED BY GUARAIYTEE Chariot House Limited Chartered Accountants 44 Grdnd Parade Brighton Easi Sussex BN2 9QA
WINDLESHAM SCHOOL TRUST LIMITED CONTENTS OF THE FJNATr4CIAL STATEMEf4TS FOR THE YEAR ELYDED 315T.4UGUST 2021 Pag¢ Report of the Trustees Report of the Independent Auditors 8 to 11 Statement of Financial Activities 12 Balance Sheet 13 Cash Flow StatemeDt 14 Notes to the Cash Flow StstetNent 15 Notes to the Financial Statements 16 10 23 Detailed Statement of FIDan¢ial A¢tivities 24 to 25
WINDLESHAM SCHOOL TRUST LIMITED REPORT OF THE TRusfEES FOR THE YEAR ENDED 315[ AUGusf 2021 The tns¢ees who are also directors of the charity for the purp)ses of the Companie5 Act 2006. present their report with th¢ financial statements of the charity for the year ended 3 1st Augu 2021. The ttttstees have adopted the provisions of ACllting and Reporting by Charitie5'. Statement of Recommendtd PrdCti¢¢ applible to Chatiiies prepartng their accounts in accordance with the Finatlcial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective I January 2019). OBJEcfivES AND AcfiviTIES Objectives And aims The sehool's objects are to promote and provide for the advancemeni of edu¢atiot) and in connection therewith to condu¢¢ carry on. atqUiTe artd develop in the United Kit)gdom atly FM)ardiDg or day school or5chools for the edlleation of children of either sex or both sexes up to the age of thirteen years or Such other age as the council of management Shall dld¢. The GovernoT5 aGhreve its objectives by providing a rewarding alI-ud cducation for every pupil via a strong foundation of key literacy and numeracy and. as ¢hildren pgress, a healthy balance between acadetnic rigouT and other artistie. muSLcal. sponing, intellectual attdoutdiM)rpursuits. ImrK>rtantly. the Schwl aims forpupils io be good people= sociable. kind. respe¢tful and able io demonstTate a ¢haritable spirit. to give children a sense of belonging. ¢oJTrmunity and respect for other5. The School's broad and balanced curriculutn. experienced ond small classes are designed to promote an ¢dtJ¢a¢ion tailored to individual needs, encouraging childretk to develop their particular tslents and abilities. The Sch(xil'5 aitn is to lay strong foundation5 for each child's future. helping them to develop eonfideThc¢. a sense of self and poterttial. We also endeavour to instil tn them a love of learning. exploration. encouraging effort and enlhusiasm. High academic standards atld a¢hievemeTht are en¢our?g¢d and ¢elebrated. Within our ChristiaTh-b&sed sch(x>l children are tn¢OUTaged to respect people from different faiths backgrounds and who hold different belie. Parents Sltpp)rt ihe School by embracinu the ethos of ¢he s¢hwl, working alongside us io help our children bccome Yaluable and rounded membets of so¢i¢ty ready for their transition to Secondary 5¢hool. Page I
WINDLESHAM SCHOOL TRUST LIMITED REPORT OF THE TRusfEES FOR THE YEAR ENDED 315f AUGUST2021 OBJECTIVES AND ACtIVITIES Key PtrfoTwaRce lNdit*tOT5 The key financial perfonnance indicators reviewed by the S¢lLCK)1'5 Governors include Annual Budget and fotetast attd actua] perfom)anc£ agaiJJ$t Budget. Whert possible comparisons may be made with other Independent SCh[s by reference to pvblishtd data including such indrcators &5 teacherlstaff pupil nuynber rdlios and cost per pupil. Parent and staff surveys and other qualitative measures suth as m¢ding with these key stakeholde¥s ore norm]Y employed to monitor perforniaThce. The ability for Trustees to tneet with parents and staff for feedba¢k on thr sdLooI's perfonnance h&s been limited during this year de to Covid r¢stri¢tions. Signific%Tht activities Visits to Drusill&s. Go Ape and the FArthship at Stanmer were made before the lockthjwn ITh the autumn. Overall our pupits enjoyed a reduced number oltrips in this a¢adetnic year with none permitted in the spring temi. Among those ¢OTnpleted during the summer term were a trip to the i360 for year 2 as part of their study of Brighton and Hove. Year 5 visited Petworth House and the Brighton Mosque. locally to ih¢ s¢hty)l. Year6 went to Newhaven Fort and Year4 Awndel Wd]ands Cetltre. Even our early y¢ar5 childr¢n from Nursery and tieception Maed trip5 to W&shbnM)ks Farni and Wildernes$ Woods respectively. Every year group enjoyed a WOW day. to launch the start of their new topi¢s. The notable one5 were the Year 3 Iron Age and the 4 Tudor days. Finally. with children unable to partitipate on the popular residentia] trip5. yeaT5 4 were able to have a catnping out adventure at School sleeping under call overnight Èn the %hool grounds. The Mvsic departtnetlt h&5 fvrther expanded io offer indiwdual le550ns for lead guiw. trumpeL bass guÉtar. voice and saxophone. This is in addition io those previously offered= Violtnlviol< Flute. Cornet- Oboe and Plano. Our w0nderllY Supportive parents have continued their commitment io improvÉng the sclK)ol. This year, the WONDER team, a ¢ollaboratiYe team involving parents and siaff, have att¢Thd a number of wOlg parttes creaie an outdoor classroom. a 5cnsory path and a Set of growing plaTrter5 for the children to grow vegrtsblcs which they will later enjoy with the2r meals. Pupils in the upper sch(K)l are awarded posts of Tesw)n5ibility itEcluding Head Pupils. and various prefect roles. Windlesham operate5 a House system where Bodtom. Lewes and Arundel {named after I[ cast]es) compete in sporting, acod¢mi¢ and g¢n¢ral perfoTEnatLCe challenges. This ts very popular with the pupils and helps them mix and make friends across different year groups and fornis. Cross age maxing is further encouTaged by allowing one period dllring Iwich whetl all children from years I to 6 are perntitt onto the playground together llnder¢lose supervision. We also have buddy systems forNutsery and Year 5. and for Rcceptton and Year 6 children. Thi$ praGticcof mixing year gfOUPS ts a very ifftportant element in the creation of a family feel to the school. Cowid 19: lthmedi#te Impact The impact of the pandemic is slowly reducing. Th¢ number of risk-reducing MSUre$ in pla¢e has returned a]most to pre- pandemic leyels and, as levels of comfort among the staff and pats irnprove. we rcturn the initiatives whi¢h we have previously enjoyed. su¢h as buddie5 and LTrSS age carousels.
WINDLESHAM SCHOOL TRUST LIMITE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2021 OBJEcfIvES AND AcfivITIES Covid 19: Long Term adjustments The irnpact of the pandemic lonts t¢rni hag been a relativel). g(d one for the school's pupil numbers. W¢ still see a significant shift from th¢ State secior to the Independt. We have r¢flected ai length about the importance of flexibilit)w in workplate aTrangemenis. of accommodating different working arranoernents, of allom'ing a5 much infoTmation as possible to be available remotely. These are all good things for emplo)ees. We have, whenever a child has been absenL provided online leaming. which was never previously w)ssible. Importantly. we have returned io all the testing processes which are part of our ttOTmal tracking sv5tems and allow us to create an ac£urate picture of every ¢hild'5 progress. We are now in the throes of iTackinu how every tninority. group is progressing relative io the average of every cohort. Public benefit The Governing 8(KJy has eomplied with the duty in Section 17 (5) of the Chariiies Act 2011 to have due regard to the Charity Commission'5 published general and relevaEJt SUsl0r guÈdance concerning the operation of the Public Ben¢fit requirement under the Act. Part of the School'5 ethos is to provide an affordable private educaiion and f¢es are kept low relative to other cornpardbl¢ establishments to tnake the khool accessible to a wider raTtge of families. Addiiional support. in the forni of bur5arie5, is provided to assisi families for whom the fees are noi within reach. All bursary awanls are means-tested and annually reviewed and awarded to ensure thai this funding reache5 the neediest faTnilies. The number of bursary awards this year wa 21. The Governors are aware ihai many parents tnake a considerable sacrifice tn order io fund their own children'5 education and want to ensure that the majority of income is invested direcily into that provision. Additional Public benefits are provided in the following ways= a) Training and educational events for stsff and parents are made available to people from other instilutions when Covid restrictions allow. b) We set up an apprenticeship place for a pupil from Greater Brighton Metropolitsn College. c) We were able to offer some swtmming io state-funded schools bui h&J a reduced number of children in classes due to the Covid restrictions on wol loads. d) The number of events on site was severely restricted due to Covid and we could not offer them io parents or the wider public. 0 A close relationship continues with the local Church. The Church of G1 ShepheriL with Christmas and Easter services held there. plu5 the loan of school rnIture and equipmeni when needed by the Church. g) This year the School's Charity Representhtives chose to supwmt th¢ Motor Neurone Disease Association raising a total of £2451 through a range of events and initiative5. In addition. h) The Brtghton Open Atr Theatre. which TS OPWFSlte the SchiM)I, enjoyed its seventh year in 2021 and the Sch(x)I coniinued its close working links with this community chartty. In addition to providine some finantÈal suppor¢ stsff from the Scho(Trl regularly volullteered at ihe Theatre during its summer progtamme. The Sch[ also provided use of fill1t and space for rehearsals and f]rst aid training. Page i
WINDLESHAM SCHOOL TRUST LIMITED REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 315T AUGUST 2021 STRATEGIC REPORT Financial review The results for the year are set out in the attached Ststement of Financial Adivities The majority of the sehool's income for the year was genernted from pupil fee5 paid by parents. The School's policy is to ensure that its income after deduction of operating expendiiure is inv¢sted in the schwl to ensure the highest stsndards in the education and facilities provided to pupils. Total fund5 decreased by £1 1.096 for the year (2020 decreased by £41.464). IThvtstment policy and objectives The School's Metnornndum and Anicles of A55rfiation peT¥nit funds io be invested irt such manner as the Governors see fit providing that Such powers of investment are only exercised for the purtxjse of auaining th¢ objects and in a Jnanner that is leoally charitable. Reserves policy The Governors ar¢ conscious of the need to have'free reserves,, i.e. those not represented by Fixed Assets, and these have been built up over recent years to a level exceeding the equivalent of two months turnover in order to provide a Cushion aoainst contingencie5 whilst maintaining an adequate lekel of working capithl. Future plans The new building w&$ complded and opened in November 2020. Plans to open it more widely to the public were on hold in 2020-21 due to Covid r¢5trictions but the plan is to offer it more widely &5 a facility in the near fuDJre. The Direcior of Studies has a150 greailj. ]Sted in Yaising standard5 by implementing a schedule for reuular )0k and planning scrulit]y and les50n observatlons. Our immediate goal is w continue to fornialise asse55tneni procedures all subjects, not just the c(Trre ones. and to collate all assessrnenl inforn)ation in a single dathb&se w'hich will provide i very comprehensiye picture of each child's pro$ and evidence of the value added year on year. An imwrtant aspect of our educational ambition is to rdi5e awareness about environmental issues through the introduction of a new subject in ihe curriculum iiiled Enyironmeni Swdies. This will be a part of our cU1cUluM frotn Year I to 6 frotn Sepiember 2022. This year we have appointed a Wildlife and sustainabili Coordinator. She has been key in developin¥ a bird wildlife uarden and organizing a growkno programme which will involve all children in growing prtxluces io pass to the kiichen. The Windle5ham Learning Twlkii has been launched. This toolkit promotes specific learning attldeS which we would like children to begin to display, and which will assi ihem grtrdtly in future }'e3rs. These include resilience. independence, creativiry, cooperation and reflection. So far, based on anecdotsl reTK)]ts alone. this initiative has pr(Trv¢d very successful. Teachers have noted a change of attitude, particularly in thildren's endeaVOu to te independent. We have appointed new uovernor5 to the Committee w'ith Closer oNersight over diversity and inclusion and the Early YeaT5. Our Head of EDI has begun to provide trdinin2 to staff and ts) help coordinators review the prtOTities in iheir subject with a view to encouraging greater focus on prornoting and celebrating diversity in our community. Future plans for broadenin. of our extrd_curricular programme have continued and this year include a magazine club and robotics club. Wilh improved facilities we able lo ofFer a Thid¢r rdn(¥e of experienccs for chÉldren to enjoy. In the fjrst tenn of the year we added a winy riding teatn, and a scuba divtng club.
WINDLESHAM SCHOOL TRUST LIMIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED31ST AUCUST 2(QI STRUCTURI GOVERNANCE AND MANAGEMENT Governing doCuent The school'5 gov¢Tning documents are its MemoTandurn al Articles of Association dated l 8 Mar¢h 1974. and amended on 16 March2012. The company is limited by guarantee and does not have any thare [thI. In the event of the company b¢ing wound up and unable io meet it5 debts, each member is liable io conknbute up to a Maximum of £1. GoverThor Training The CUJTent Governors and knior Leadership Teatn of the School elect the Governols w scrvt on the Council of Mana¥ement to deterniine the oeneral wliry of the School. The Board holds induction sessions for GovernoT5 who have joinoj the Board. All new Govemors are provided with an induction pack containing statutory and non-stsruiory information. Sections ol the pack are used to support the induction session. Potential Governors are invited as observeTS to Governors meeiings. Thev are required to spend time with the Chair and Head Teacher to ascertain ihe nature of the Charit). and the responsibilities of a Governor. Training is provided to updaie Governor5 on relevant company and charity developments. organi58tional structsre Governors rctire and are eligible for eleciion by rotation after three J'ears. Th¢ Governors are elected at the School's AGM, one third of the Governors reiire at each AGM bur are eligible for re-election. Governors are recruited to fill any vacaney as it arises in accordanc¢ with the requirements of the Articles of Association of the compan),. Thi5 is either by advertising and search or by individual seleaion where there Is a need for a Trustee WTth a particular area of experttse. The subcommittees and their representatives are as follows: Health and Safeti," Safeguardin.: Graham Rowlands-Hempel Finance.. Neil Baxter, CuTriculum.' Christine Mannion-watson, Liz Brown and Jack Cornish Staff]ng". Graham Rowlgnds-Hempel Risk ManageTnent'. Graham Rowlands-Hemp¢l The day to day rnanagement of the school is delegated to the Headieacher, Direcior of Teaching and Leamintw, Deputy Headteacher and the Head of Finance and Operdiions. Key m#Magement remuneration Through the Board of Governors, the Sch(KTrl is reswnsible for selling the pav and remuneration of the School's key management personnel, the level of which is reVie.ed annually. In coming 10 its recolnrnendations the Govemors Tnay seek advice from external independeni experts aT]d .11[ alve ar their decisions after taking inio account the purpose aims and values of the School, the strdiegic plan and the abiliry io pay. individual cotnTKten¢ies and perforniance. remuneTation lev¢ls at similar charities. and retention. These faciors arc noi exclusive and an}, decision will IneilablY includ¢ an cl¢mcnt of discretion initially on the part of the Governors and ultimately on that of the Sehool. Fundrai$ing The s¢hool benefits from an enthusiastic group of parents M'ho voluntarily fundrdise for the School as "Friends of WindleshaTn" This dual-PUryK>se b(Y organises fun aciivities for fund raising with pupils, parents and carers and staff involvetnent such as Fayre5 and other social events includÉng movie nights. btnoo and quizzes In fvnd rdising neither the School nor the Friends of Windlesham employ arty professional fund raisets. The School onlv approaches parents and carers of past and current pupils, plus past pupils themselves lor donations. There were no collhplaints about any of this activiiy dllring the year. Page 5
WINDLESHAM SCHOOL TRUST LIMITED REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2021 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk managcment The Govemors have examined the Major Strdtegic, business and OanisatIOnal risks which the sch(M)I faces and confimi that systCTllS are in place io miiigate ihose risks. In particular the Governor5 have set up a sub comlnittee headed by G Rowlands-Hernpel to maintain and improve the School's risk rnanageTnenl 5traiegv. Key elements of the School's risk controls include strategic planning. eTnerts¢ncy planning. budgetin(T and management accounting. ¢5tablished organisational structure and Icv¢ls of authority. fomial written FN)licies; and vetting prOdreS for the safrguardiDg of pupi]s. REFERENCE AND ADMINISTRATIVE DETAIIS Registered Company nurnber 011724i2 (England and Wales) Registered Charity number 269264 Registered offiee 190 Dyke Road Brighton Easl Sussex BNI SAA Trustees N D Baxter Mrs C A Mannion Watson G Rowlands-Hernpel H Martin (resigned 91712021) J Cornish lapp(>inied 311212020) Ms K Duckenfi¢ld (appointed 14,.'IOll021) Cornpanv Secretary G Rowlands-Hempel Senior Statutory Auditor J Thacker FCA DChA Auditors Chariot House Limited Chartered Accountanis 44 Grand Parade Brighton East Sussex BN2 9QA Headte*eher J Ingrossia Head of Finance and Operati011S J Waller Page 6
WINDLESHAM SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED31ST AUGUST 2021 REFERENCE AND ADMINISTRATIVE DETAILS Bankers Banker5 HSBC 125 Church Roa(L Hove, BN3 2AN Lloyds Bank PLC 25 Gresham St London EC2V 7HN STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees {who are also the direciorl of Windlesham School Trust Litnited for the PUTposes of company law) are responssble for preparing the Rewrt of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Siandards (Uniied Kinodom Generally Accepted Accounting Practice)_ Cornpany law requires the rnjstees to prepare financial $eMentS fw each financial year which give a Ie and fair view of the stale of affairs of the charitable tompan}' and of the incoming resources and appltcation of resource& including the income and eXpendIre. of ihe charitable company for that period. In prepaTing thos¢ finoncial statements. the trustees are required to select suitable accouniing p)li¢ies 2nd then apply them consistenily: observe the Tnethods and principles in the Charity SORP- ake judgements and estimates ihat are reasonable and pnjdeni". prepare the financial ststements on the ttoinu concem basis unless it i5 inappropriate to presume that the charitable company will continue in business. The trustee5 are responsible for keeping proper accounting records which disc105e with reasonable accuracy at any lime the financial position of the charitable company and to enable them io ensure that the fancIal statements comply wilh the Companies Act 2006. They are also responsible for safe. U3rding the assets of the chatitable cotnpany and hence for taking reasonable steps for the prevention aTtd de¢tIon of ftaud and other irregularities. In so far as the tnjstees are aware.. there is no relevant audit information of which ihe charitabl¢ company's auditors are unaware,. and the trustees have takell all steps thai they ought to have thken w make themselve5 aware of any r¢levont audit information and io establish thai the auditors are aware of that information. AUDITORS The auditors. Charioi House Limlie will be pro)Sed for re-app)inknent at the forthcijming Annual General Meeting. Report on I th trustees, incorpoming a sirdregic retx)rt, approv¢d by order of the board of tru*ee5, as the company directors, ch 2022 and Ih board's behalf by.. owlands-Hempel- Ttvsiee Page 7
REPORT OF THE INDEPENDV.NT AUDITORS TOTHE MEMBERS OF WINDLESHAM SCHOOL TRUST LIMITED Opinion We have audtied the financial Mat¢ments of Windlesham School Trusi Limiied {the'charitable company,) for the yeai ended 315t Augusi 2021 which comprise the Staiemeni of Financial Artiviti¢s. the Balante SheeL the Cash Flow Staiemeni and notes to the financial statements, including a sumlnary of significant accounting policie5. The fin3ncial reporting framewoTk that has been applied in their preparation is applicable law and United KÈngdom Accounting Standards (United Kinudom (r Practice). Generally A¢cepied Accountin. In our opinion the financial stat¢ments= give a irue and fait view of the slate of the charitable companj's affairs as at il st August 2021 and of irs incoming resources and application of resources. includiEJg its income and expendithre. for the year then ended,. have been properly prepared in atcordance with United Kingdom Generdll) Accepted Accountino Practice. and have been prepared in accordaJ)ce with the requiiements of the Cotnpanies Act 21M)6. Basis for opinion We conducted our audit in accordance with International Sthndards on Auditing (UK) (TSAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audii of the financial stateTnents seciion of our rewrt. We are independent of the charitable company tn aceordance with the ethical requiremcnts th* are relevant to our audil of the fmancial sthtements in the UIL including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibiliiies in accordanee M'ith ihese requirements. We believe thai the audit evidence we have obtained is 5uificieni and appropriate to provide a basis for our opinion. Conclusions relating to going CODeern In auditing the financial statements. we have concluded that the truSe$. use of the. preparation of the financial statements is appropriate. oing concern basis of accounting in the Based on the work we have perfornie& we have not ideniified any Tnaterial uncenainties relating to events or conditions that, individually or colleclivelv. may 5ionificani doubt on the Charitable compan$ abilitv to continue as a going concern for a period of at lcast rwelve months frorn when the financial statemenES are authorised for issue. Our responsibilities and th¢ responsibilities of the trusiees with resp¢ct to uoing concem are d¢scrtbed in the relevant sections of this report. Other informatitiR The irusiee5 are resEx)nsible for the oiher infonnation. The other infonnation comprises the inforniation included in the Annual Report, other thaD the financial ststements and our Rewn of the Independent Auditors thereon. Our opinion on the financial staternents does not cover the other infornation an(L except to the extent otherwise explicitly stated in our rq)on. we do not express any forni of assurance conclusion ther¢on. In connection with our audit of the financÉal sthtements. our reSpSibIlIty is to read ihe other infonnaiion and. in doing 50, CL)nsider whether the other infom)aiion is materially incon5iSteni 1th the financial 5tsteTnents or our knowledge obiained in the audit or otherwise appears to be maierially misstated. If we identify sllch material inconsisiencies or apparent material misstaiements, we are required to detem)ine whether this gives rise io a maierial misstatement in the financial statements themselve5. If, based on the work we have perfornied. we Conclude thai there is a material misstatement of this other inforniation, we are tequired to report ihai faci. We hav¢ nothin(p to re[ in this gard. Opinions on otb¢r matter$ prescribed by the Com1¢$ Art 21106 In our opinion. based on the work undertaken in ihe course of the audit= the infomiation given in the Report of the Tntr¢s for the FanCIal year for which the financial sthtemen(s are prepared is consistent with the fmancial statements; and the Rep)rt of th¢ Trustees has b¢¢n prepared in accordance with applieable legal requirements. Page 8
REPORT OFTHE INDEPETr4DEIYT ALTDITORS TO THE MEMBERS OF WINDLESHAM SCHOOL TRLST LIMITED Matters on which we are required to report by exception In the lighi of the knowledge and und¢rstsnding of the ¢haritable company and its environment obtained in the course of the audiL we have not identifEed material missiaternents in ihe Report of the TThsttts. We have nothing to report in respect of the following mauers where th¢ Companies Act 2006 requires us to report to yoll if. in our opinion". adequate accounting record5 have not been kept or returns adequate for our audit have noi been received from branches not visited b). us- or the financial stateTnents are not ill aoJeemeni with the accoullting records and retUrnS- OT certain disclosures oftrustees, remuneration Specified by law are not rnade: or we have not received all the infomiaiion and explanaii¢)ns we require for our audit. Responsibilities of trustees As explained more fully in the Staiement of Tru5tees' ResrK)nsibilitie¥ the tSlee$ {who are also the directors of the charitable company for the PUTposes of eotnpanN la) are responsible for the preparation of the financial ststemenis and for being saiisfied that they give a twe and fair view., and for such internal control as the trustees detennine is necessary io enable the prepardtion of financial sraiements that are free from material misstatemenL whether due to fraud or etTOr. In preparing the f]nancial ststernen the rnstees are resrthsible for awsing the charitable company's ability to continue as a going eoncetn. disc105ing, as applicable. matters relaied io going concern and using the going Concern basis of accounting unless the trustees etther intend io liquidate the charitable CoMpY or to cease operations, or have no realistic alternative bui io do so. Page 9
RF.PORT OFTHE INDEPENDENT AUDITORS TOTHE MEMBERS OF WINDLESHAM SCHOOL TRUST LIMITED Our re5ponslbilities for the Budit of the finanf ial ststerneDts Our objectives are to obtain reasonable assur8n¢¢ alK)Ut M'hether the financial statelnents as a whole are free from tnaterial misstatement, wheiher due to fraud or etTor. and io issue a Report of the Independent Auditors (hat includes our opinion. Reasonable assurance is a hiJts level of assurance, but is not a guarante¢ that an audit conducied in accordance with ISAS {UK) will always detect a material Enissthiement when it ¢Xl5ts. Missiatements can arise from fraud or etTor and are considered material if, individually or in the aggregate, the), could reasonably expected to influence the ¢¢onomic decisions of users raken OD the b&8ts of these fInancE staternents. Irregularities, including fraud. are insiances of non-COtnplian¢e with law's and regulalron5. We design procedure5 in line wilh our responsibilities. outlined above, to deieci maierial missthtetnents in respect of irregularities. including fraud. The extettt to which our procedures are capable of detecting irregularitie& including frdud i5 detailed below.. We gained pn understanding of th¢ legal and regulatory framework applicable to the charithble company and the industy in which li operates, and considered the risk of acts by the chatÉthble company that w'ere Contrary to applicable law5 and regulations. including fraud. We identified that the followinu laws atjd regu]10nS are central to the charitable company.. Companies Act 20006 Charitses Act 2011 Charities SORP 2019 Healrh & safety regulation5 We did noi find any instances of non4ompliance or breachcs of the legisl&ioD fromework applicable io the charilable company. We designed audit procedures to respond to the risk, recognising thw the risk of not detecting a material misstatement due to fraud is higher than the risk of noi detectino one resuliing from error: a5 fraud tna). involve deliberaie concealment by, for exatnple, forgery or intentional misrepres¢ntation5. or through collusion. We identified that the following ar¢as were o(high risk= Completenes5 of income. We perforrned various audit $ts to ensure that income was noi materially understated in the fjnancial statements. Management override of controls. We wfornied various audit t¢sts to ensure ihere was no material manaaement oveIde of controls We focussed on laws and regulations which could give rise to a material Tnisstaiemeni in the flnancial statements. including, but not limited to, the Companies Act 2006, UK leoislaiion. Charities Ad 2011 and Chariiies SORP 2019. Our test5 included a¥reeing the financial stsiemeni dÉsclosures lo underlNin(F SUPkX)ning documentation. enquiries with management and enquiries of legal counsel when considered nec¢55at)'. There are inherent limitations the audit procedures described above and. th¢ further removed non-compliance Thith laws at]d regUllOnS is from the ¢v¢nts and trartsatlions reflected in the financial swements, the less likely we would become aware of tt. We did noi identify any key audit rnatters relaiing to iregularitie5. including fraud. As in all our audits. we also addressed the risk of management override of intelnal controls, ncluding testing joumals and evaluating whether there w&5 evidence of management bigs by the director5 that Tepresentsd a risk of material ]nissiatemeDt due to hud. A further deriptiOn of our responsibilities for the audit of the financial strtements is located on the Financial Reporting Council's website at WwW..0rg.kIauditO[sreS[m)nslb1]1tie5. This descrtpiion fornis of our R¢port of the Independent Auditors. Page 10
RF.PORT OFTHE INDEPETriDENT AUDITORSTO THE MEMBERS OF WINDLESHAM SCHOOL TRUST LIMITED Use of our report This report Is made solely to the charitable company's mcmber5, a5 a FM)dy. in accordanc¢ with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so ihar we might State to the charitsble cotnpany's Tnembers those matters we are required to State io them in an auditors, retKJrt and for no other purpos¢. To the fullest extent peTmitted by law, we do not accept or assume responsibility. to anyone other than the Charitable company and ihe charitable company's members as a body. for our audit work, for ihis rert. or forthe opinions we have fotmed. JOI Thacker FCA DChA (Senior Ststuiory Auditor) for and on behalf of Chariot House Limited Chartered Accountants and Sthiuiory Auditor 44 Grand Parade Brighton East Sussex BN2 9QA Date.. 21M March 2022 Pagell
WINDLESHAM SCHOOL TRUST LIMITED STATEMENTOF FINANCIAL ACTIVITIES INCORPORATING AP4 INCOME AND EXPENDITURE A FOR TFIE YEAR ENDED 31ST AUGUST 2021 COUN 2021 2020 Unrestricted Unrestricted fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies .310 3,830 Charitable activities School Fees Receivable Sundry Income 1,374,621 4,773 1.204,928 668 Investment income Other income 37 39,932 1.443 57,606 Total 1.420.673 1,268,475 EXPENDITURE ON Charitable activities School operating costs - Teachino School opcratints costs- Premi5¢S School operating costs- Support costs of %hooling ,032,626 166.673 2J2.470 974,548 136,766 198,625 Total 1,431,769 1.309,939 NET INCOMEI(EXPENDITURE} (11.096) (41,464) RECONCILJATION OF FUNDS Totsl funds brought forward 2269,690 2.311,154 TOTAL Fuf4DS CARRIED FORWARD 2,258,594 2,269,690 The notes fonn part of these financial statements Page 12
WINDLESHAM SCHOOL TRUST LIMITED REGISTERED NUMBER: 01172432 BALANCE SHEET 1ST ALGUST 2021 2021 Unie5tricted fund 2020 Unrestricted funds Notes FIXED ASSETS Tangible assets 3.222.837 3,078.790 CURREfff ASSETS Debiors Cash at bank 10 52.596 331.881 58.280 17J,944 384,477 232.224 CREDITORS Amounts falling due within one year (249.970) (482,074) NET CURRENT ASSETS lJ4.507 249 850 TOTAL ASSETS LESS CURRENT LIABILITJES ).i57.344 2,828,940 CREDITORS Atnounts falling du¢ after more than one yfdr 12 (1.098.750) (559.250) NET ASSETS 2,258,594 2,269.690 FUNDS Unrestricted funds 16 2.258.594 2 269,690 TOTAL FUNDS 58,594 2,269,690 The financial statements were approv by the Board of alld authorised for issue on 18th March 2022 and were signed on it5 behalf by.. GROW ands-Hempel- T stee The noie5 form part of these financial ststements Page 13
WINDLESHAM SCHOOL TRUST LIMITED CASFI FLOW STATEMENT FOR TIIE YEAR ENDED31ST AU UST 2021 2021 2020 Notes Cash nows from operating activities Cath generated from operations 347,755 758.334 Net provided by operating activities 347,755 758.334 Cash flows from inwestlDg acttvities Purchase of tangible fixed a55ets Sal¢ of tan" ."ble fixed assets Interest received (189,855) (1,277.786) 8,645 37 Net cash used in investing activities 189,818) 1267 698 Change in tash tash equivalents ID tbt reporting period Cxsh and eash equivalents at the begillning of the reporting period 157.937 1509.364) 173,944 683 308 Cash and cash equivaJeRts at the eDd of the reporting period JJl,881 173,944 The notes forni part ofthese fmancial stsiements Page 14
WINDLESHAM SCHOOL TRUST LIMITED NOTES TO THF. CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGLST 2D21 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING AcfiviTIES 2021 2020 Nel expenditure for the reporting period (as per the Ststement of Financial Activities) Adjustments for: Depreciation charges Profit on disTX)sal of fixed assets Interest received Decreaseilincrease) in debtors Increase in erediiors (11,096) (41,464) 45,808 33,742 (677) {1,443) (19.269) 787,445 137) 5.684 307.396 Net cash provided by operations 347.755 758.334 ANALYSIS OF CHANGES IN NET DEW[ At 119120 Cash flow At 3118121 Net e*s Cash at bank 157.9i7 331.881 157.9J7 331 881 Debt Debis fallints due after l year 515,000 (535.000 1050,000 i15,000 535 000) 1,050.0(K) Total 341,056 377.063 718.119 The notes forni part of these financial statements Page 15
WINDLESHAM SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2021 ACCOUNTING POLICIES Basis of preparing tbe fthancial slatements The financial siatements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Chariti¢s SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of RecomTncnd¢d Practice applicable io charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effectkve l January 2019),, Fin8llCi81 RepoTting Standard 102 The Financial Reportino Standard applicable in the UK and Republic of Ireland, and the Cotnpanies Act 2006. The flljancial siaternents have been prepared under the historical cost convention. At the time of approving the financial State¢1 the trustees have a reasonable expectstion thai the charity has adequaie resourceg io continue in operdlioDal existence for the foreseeable fulure. including taking into account any polential impact of the Covid-19 pandemic. and on that basis ihe charity is considered to be a going concem. Income All income 15 recognised in the StatemeEJt of Financial Activtlies once the charity has entitlement to the fimds, it is probable ihat the income will be received and the amouni can be measured reliably. Fees re£eivable and charg¢s for services. less any allowance& scho13T5hips and bursaries granted by the school against those fees ore aCcoUnd for in the peri(Ml in which the service is PTovided. Ivhere fee5 are reteived for a future service they are included it) defe iD¢QIlIe. Inveslment income is accounted for on an &¢ruals basis. Donations, legacies and other voluntary income are accounted for as and when eniitlemenÉ arises. the amount be reliably measured and the economic benefit is considered prnbable. Expenditure Liabilities are recognised as expenditure soon as there is a legal or constructive obl juation committing the charity to ihat expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expendiiure is accounted for on an accruals basis and has been classified under headings that aggregate all related io the catrgory. Where costs cannoi be directly attributed tg particular headinus they have been allocated to aciiviiies on a basis consistent with the use of resources. Tangible red assets Depreciation is provided at the following annual rates in order to write off each asset over its esiimated useful life. Freehold lat]d is not depreciated. Freehold buildings with an expected life over 50 years Fixtures and FittinJ(T Computer equipment Motor Vehicl¢s 20/0 OTi Cost I10 on cost IOD/o on c05t 20/0 L)n cost The SchLNTrI doe5 not ¢apitalise &ssets costing le55 than £i¢K). Recognition and measuremeni Fixed assets are rneasured ai cost less accunjulated depreciation and any accwnulated ilnpaimient losses. Pe 16 continued...
WINDLESHAM SCHOOL TRUST LIMITED NOTF.S TO THE TrINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST AUGUST 21121 ACCOUNTING POLICIES- continued Taxation The Charity is considered to pass the tests set out in Par4tsrdph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable compan} for UK CortM)ration PUTP05es. Accordingly the Charity 15 potentialty exempt from taxation in respect of incorne or capital gains received within categories covered by Chapter 3 Part I I Corporation Aci 2010 or Seciion 256 of the TatIOn of Chargeable Gains Act 1992, to the extent that such income or gains are applied ex¢lu5ivel)' lo charirable purposes. Fund accounting Unresiricted funds can be used in accordance with the charttsble objeaives ai the discretion of th¢ twstees. R¢srricted funds can ollly be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified bj the donor or when funds ate raised for particular restricied pury)oses. Further explanation of the natyre and purtx)se of each fid ts included in the notes to the financial statern¢nts. Hire purchase and leasing coThmitrnents Rentals pavable under operating leases are charged against income on a straIt line basis over the period of th¢ lease. Pension eosts gThd otber post-retirement benefits The charitable company operdies a defined contribution pension scheme. Contrtbutions payable to th¢ charitable companv's pension scheme are charged to the Statemeni of Financial Activitie5 in the period to which they relaie. DONATIONS AND LEGACIES 2021 2020 Donations 1,310 3,830 INVESTMENT INCOME 2021 2020 Deposit account int¢rest 37 1,443 Page 17 continued...
WINDLESHAM SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS-tontinued FOR THE YEAR ENDED31ST AUGL.ST 2021 INCOME FROM CHARITABLE ACTIVITIES 2021 2020 Activity School Fee5 Receii'able School Fees Receivable School Fees Receivable School Fees Receivable School Fees Receivable School Fees Receivable School Fees Receivable Other Income Years I to 6 Recepiion & Nursery Bursaries Staff Discounts Extras Regislration fees Pupil mea15 Sundry incoTne 1,241,964 173.306 (118.322) (49.578) 60,090 3,420 6),741 4,773 1,056,280 211,430 (102,903) (31.033) 67,924 3.230 668 I,i79,394 1,205,596 CHARITABLE AcfiviTIES COSTS Dir¢¢t Cost$ School operating costs- Teaching School operating costs- PreTni5es School operdting costs- Support costs of sohooling 1.032,626 166.673 232 470 1431.769 NET INCOMEI(EXPENDITURE) Nei income/{expenditure) is stated after cha]j(CreditiI1ts . 2021 2020 Depreciation - owned assets Other operating leases Surplus on disposal of fixed assets Auditor'5 r¢muneTation- Audii Auditor's re¥nun¢ration- non Audil 45.808 13.536 33.742 6.903 (677} 2,950 2,570 3,770 2,650 continucd...
WJNDLESHAM SCHOOL TRUST LIMITED NOTES'fo THE FINANCIAL STATEMENTS- COnliNued FOR TIIE YEAR ENDED 31ST AUGUST 2021 TRUSTEES, REMUNERATION AND BENEFITS Ther¢ were no tsusttts. rcrnuneration or other benefit5 for the year ended 3 1st August 2021 nor for the ye3r ended 31 st August 2020. Trustees, expenses No Governor receiyd retmbursement of expenses in the )eaT (2020: 1 governor £10 for lunch). STAFF COSTS 2021 2020 Wages and salaries Social security. costs Other peTtsion costs 960.443 74,294 53.065 957,864 68,913 49,129 1.087.802 1,075.906 The average monthly number of employees during the year was as follows: 2021 35 2020 37 Teaching Staff Others 42 44 The number of employees whose etnploy¢¢ benefits {excludin£ employer pension costs) exceeded £60.000 was.. 2021 2020 £60.001- £70,000 The charity considets its key management personnel comprises the teeS and the S¢nior Leadership Team. Total ¢mplo)'menÈ benefits to its key manag¢ment personnel were £259.975 (2020.. £253271). Page 19 continued...
WINDLESHAM SCHOOL TRUST LIMfrED NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED31ST AUGUST 2021 TANGIBLE FIXED ASSETS Fixmres and fittings Freehold property Cornputer equipment Tota]s COST At 1st Septetnber 2020 Additions Disposa15 3,53i,881 185.760 24.554) 105,&U 4,095 78,711) 3.691.430 189,855 127,4?8 24.163) At 3 Isl AuguM 2021 3.695 087 31.228 27,542 3 75i,857 DEPRECIATION At 1st September 2020 Charge for veor Eliminated on disposal 485.501 39.9i 24.554) 89.802 37,337 2,713 24,163 612,640 45,808 127,428 78 711} At 31st August 2021 500.879 15,887 531.020 NET BOOK VALUE At 31 st Augu 2021 3.194,208 16,974 3.222,837 At 3 1st August 2020 3.048.i80 16,IH2 14.368 3.078,790 io. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Fee Debtors Prepaym¢Dts and accrued income 38,126 14,470 49,520 8,760 52,596 58.280 Page 20 continlled...
WINDLESHAM SCHOOL TRUST LIMITE NOTES TO THE FINANCIAL STATEMEN FOR THE YEAR ENDED 31ST AUGUST 2 - eomtinued 21 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Trade creditors Other crediiors Accruals and deferred income 21.996 145,500 192,436 144,li8 227.974 249,970 482,074 12. CREDITORS: AMOUNTS FALLlf4G DUE APTER MORE THAN ONE YEAR 2021 2020 Bank loans (see note 13) Final term deposits 1,050,000 48.750 515.000 1.098,750 559.250 13. LOANS An analysis of the maturity of loans is given below: 2021 2020 Amounts falling between one and ¢wo years.. Bank loans- 1-2 years 50,000 A]nount5 falling due between two and five year5". Bank loans- 2-5 ytrars 189,015 54,621 Amounts falljnu due in more than five years= Repayable by instalments.. Bank loans more 5 )T by instsl 810,985 460,379 14. LEASING AGREEMENTS Mtnimum lease payments und¢r non-cancellable ratIng le&ses fall due as follows.. 2021 2020 Within one y¢ar Benveen one and five years In more than five years 16,787 44,244 5,425 12,447 39,330 66.456 51,777 continued_.-
WINDLESHAM SCHOOL TRUST LIMITED NOTES TO THE FIPIANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST AUGUST 2021 15. SECURED DEBTS The following secured debts are included within crediiors: 2021 2020 Bank loans 1.050,000 515.(X)o The loans are secured by legal charges over the propffj. The loan is %he(luled to be repaTd in 2045. MOVEMENT IN FUNDS Net movement in fi]ndg Ai 3118r21 At 119r20 Unre5trieted funds General fund 2.269,690 (11.096) 2.258,594 TOTAL FUNDS 2.269.690 11096) 2.258,594 Net movement in funds. in¢luded in the above are as follows: Incoming resources Resources expended Movemenf in funds Unrestricted funds Genera] fund 1,420,673 {1,431.769) (11.096) TOTAL FUNDS 1,420.673 431,769 1,0961 Comparatives for rnovement ID funds Net movement in funds At 3118120 Ai 119119 Unrestricted fuDds GeJ¢ral fund 2.311,154 (41,464) 2.269,690 TOTAL FUNDS 2 311,154 41,464) 2.269,690 Page 22 continued...
WINDLESHAM SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS-eontiThued FOR THE YEAR ENDED315T AUGUST 2021 MOVEMENf IN FUNDS- continued Comparatiye nei movement in funds. tncluded in the above att as follows: Incoming resources Resources expended MovemeT2t in funds Unrestricted funds General nd 1.268.475 (1.309.939) (41.46A) TOTAL FUNDS 1268.475 1,309.939 41.464) 17. RELATED PARTY DISCLOSURES There were no related party tranwtions for the year ended 31 August 2021. 18. STATUTORY INFORMATION The charity is a company limited by guarantr< registered in England and Wales, and has DO share capital. No one rnember h&5 overdll control of the charity. Its registered office address and regisiered nUTnber can be found in the'legal and administrdtiv¢' inforniation section of the trustees annual rew)rt. Page 23
WINDLESHAM SCHOOL TRUST LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2021 2021 Unrestricted funds 2020 Total funds INCOME AIYD ENDOWMEiYrs Donations and legaeies Donattons 1.310 3,830 Invtstment ittcome Deposlt account interest 37 ,443 Charitable activities Years l 10 6 Reception & Nursery Bursaries Staff Discounts Extras Registration fees Sundry income Pupil meals 1.241,964 173.306 (118.3?2) (49,578) 60,090 3,420 4.773 63,741 1,056.280 211.430 (102,903) (31.033) 67.924 3.230 668 1.379.394 1,205.596 Other ineome Furlough grant 39.932 Totsl incoming resollrces 1,420,67J 1.268.475 EXPENDITURE Cbaritable activities Wages Social security Pensions Rates W3ter rates InsuTance Light and heal Telephone Postaue and sthtionery Adv¢rt15ing Sundries Carried Éorward 960.443 74.294 53.06) 13,536 6.851 13,330 29,487 4,101 13,016 4,772 1,347 ,174.242 957.864 68,913 49,129 6,903 5,957 13.304 22.185 2.854 12.227 5.9)3 1.145,388 Thts page does not fonn part of the statutory financial statement5
WINDLESHAM SCHOOL TRUST LIMITED DETAILED STATEMEP4T OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST ALJGUST 2021 2021 Unrestricted fitnds 2020 Total funds Charitable activities 1.174.242 ,145.388 4.891 855 1,372 3,176 4,914 7.160 5.822 474 24.202 25,243 34.919 4,564 Recruitment costs Adrninistration Bookg Sports equipment Swirnmints equiptnent School Stationery Computers & equipment Trdnsport costs Other academic costs Repairs & renewals Cleaning Subscriptions Lunch and catering costs Legal & professional fees Staff training Travel & subsistence Managemeni infomiaiion systerns Governors expense5 Audii fees A¢¢ountancy Bad debts Loan charges Freehold property Depreciation fixiuie5 & fittinos Depreciation computer equipment L05s on sale of tangible fixed assets 1,016 691 2.123 2.956 7,917 4,715 18.986 24.660 i8.877 5,070 64.714 183 i.579 2.9iO 2,003 88 794 10 5,520 1,407 {5.8?8) 6.970 28,275 2.713 2,754 677) 4,766 50 6,420 I,)82 23,613 2.71i 3,163 1.431769 ,309,939 Totsl resources expended 1,431,769 1,309.9i9 Net income 41,464) This page does not form part of the statuw financial statements PL(Te 25