2021-08-31-accounts - The Peterborough School Limited

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				Page
Company	information			1-2
Chairman's	statement			3
Directors'	report (incorporating		the Strategic report)	4 —18
Independent auditor's		report		19—22
Financial statements		ofthe company		23-44

DIRECTORS	DIRECTORS	AND ADVISORS	AND ADVISORS
Directors				Mr KP Craig (Appointed				as Chairman		on
				01/09/2021)
				Ms LAyres (Previous Chairman,					stood	down
				31/08/2021)
				Mr P H W Southern			(Deputy Chairman)
				The Revd Canon	l	C Black (Resigned				10/03/2021)
				Mrs SDixon (Appointed				13/10/2020)
				Dr E Gifford (Appointed				20/08/2021)
				Mrs KC Hart
				Mr P Hayes
				Prof CJ Howe
				Mrs H L Milligan-Smith
				Mrs E Payne
				Mr PTSimmons
				Mr CW Spinley
				DrJSThompson
				The Right Revd R		S	Ladds (Provost: non-voting
				member)
Secretary				Mr SJ Dharamraj
Charity No.				269667
Company	No.			01182629
Principal	Address	and Registered	Office	The Peterborough		School Limited
				Thorpe Road
				Peterborough
				Cambridgeshire
				PE3 6AP
Key Management		Personnel
Head				Mr A D Meadows
Bursar				MrSJ Dharamraj
Auditor				RSM UK Audit LLP
				The Pinnacle
				170Midsummer	Boulevard
				Milton Keynes
				Bucking hamshire
				MK9 1BP
Bankers				Barclays Bank pic
				Peterborough Business				Centre
				PO Box294
				Peterborough
				PE1 1EZ
Solicitors				Hunt 8 Coombs	Solicitors
				35Thorpe Road
				Peterborough
				PE3 6AG

Investment	Advisers	Ravenscroff Group	Ravenscroff Group
		The Singing Men's Chambers
		19Minster Precincts
		Peterborough
		PE1 1XX
Insurance	Brokers	Marsh Limited Education		Practice
		Capital House
		1-5Perrymount	Road
		Haywards Heath
		West Sussex
		RH16 3SY

			Note	Unrestricted	Restricted	Total	Total
				Funds	Fundsf	2021f	2020f
Income and endowments	from:
Charitable Activities
School fees receivable				5,944,279	(7,821)	5,936,458	5,388,456
Ancillary trading income				276,087		276,087	310,771
Other trading activities
Non-ancillary trading income				23,207		23,207	26,750
Investments
Investment income				7,617	1,013	8,630	9,648
Bank and other interest				1,160	1	1,161	6,864
Other —Grants and donations
Grants and donations				39,916	4,342	44,258	209,994
Other income							2,150
TOTAL INCOME				6,292,266	(2,465)	6,289,801	5,954,633
Expenditure on:
Raising funds
Financing costs				25,564		25,564	75,917
Investment management				3,217	504	3,721	3,666
				28,781	504	29,285	79,583
Charitable Activities
Education and grant making			7	6,030,233	2,469	6,032,702	5,992,831
TOTAL EXPENDITURE				6,059,014	2,973	6,061,987	6,072,414
Net gains/(losses) on investment		assets	13	52,551	8,199	60,750	(30,743)
NET INCOME/(EXPENDITURE)				285,803	2,761	288,564	(148,524)
Transfers between funds			22
Net Movement in funds for the		year		285,803	2,761	288,564	(148,524)
Fund balances at 1 September 2020				6,466,375	21,127	6,487,502	6,636,026
FUND BALANCES AS AT 31AUGUST			2021	6,752,178	23,888	6,776,066	6,487,502

			Note	Unrestricted	Restricted	Total
				Funds f	Funds f	2020f
Income and endowments	from:
Charitable Activities
School fees receivable			2	5,388,456		5,388,456
Ancillary trading income			3	310,771		310,771
Other trading activities
Non-ancillary trading income				26,750		26,750
Investments
Investment income				8,782	866	9,648
Bank and other interest				6,863	1	6,864
Other —Grants and donations
Grants and donations				207,169	2,825	209,994
Other income				2,150		2,150
TOTAL INCOME				5,950,941	3,692	5,954,633
Expenditure on:
Raising funds
Financing costs				75,917		75,917
Investment management				3,202	464	3,666
TOTAL DEDUCTIBLE COSTS				79,119	464	79,583
Charitable Activities
Education and grant making			7	5,990,198	2,633	5,992,831
TOTAL EXPENDITURE				6,069,317	3,097	6,072,414
Net (losses)/gains on investment		assets	13	(29,043)	(1,700)	(30,743)
NET EXPENDITURE				(147,419)	(1,105)	(148,524)
Transfers between funds				6,518	(6,518)
Net Movement in funds for the		year		(140,901)	(7,623)	(148,524)
Fund balances at 1 September 2019				6,607,276	28,750	6,636,026
FUND BALANCES AS AT 31 AUGUST			2020	6,466,375	21,127	6,487,502

		Note		2021		2020
FIXEDASSETS
Tangible assets		12		6,234,479		6,489,513
Investments		13		318,339		261,207
				6,552,818		6,750,720
CURRENT ASSETS
Stock			3,680
Debtors		14	175,653		150,888
Cash at bank and	in hand		1,601,783		1,397,849
			1,781,116		1,548,737
CURRENT LIABILITIES
Creditors payable	within one year	15	749,677		1,645,792
NET CURRENT				1,031,439		(97,055)
ASSETS/(LIABILITIES)
TOTAL ASSETS LIABILITIES	LESSCURRENT			7,584,257		6,653,665
LONG TERM LIABILITIES
Creditors payable	after one year	16		808,091		166,063
TOTAL NET ASSETS				6,776,166		6,487,602
REPRESENTED	BY:
Called up share	capital			100		100
RESTRICTED FUNDS
Restricted income	funds	22		23,888		21,127
UNRESTRICTED	FUNDS
General reserve		22		6,752,178		6,466,375
				6,776,166		6,487,602

								Note	2021	2020
Net cash provided by operating			activities					28	428,001	307,994
Investing	activities
Dividends	and interest								9,791	16,512
Proceeds from the sale oftangible			fixed	assets						2,150
Purchase	oftangible fixed assets								(47,889)	(200,824)
Proceeds from sale ofinvestments									64,330	57,759
Uninvested	cash decrease/(increase)								22,181	(24,003)
Purchase Repayment	ofinvestments ofobligations under finance			leases					(82,893) ~4.084	(30,090) ~4,084
Net cash	used in investing	activities							(38,564)	(182,580)
Financing	activities
Repayments of borrowing									(161,767)	(155,612)
Financing	costs								(23,736)	(77,745)
Net cash	used in financing	activities							(185,503)	(233,357)
Increase/(decrease) in cash and			cash	equivalents			in the		203,934	(107,943)
year
Cash and	cash equivalents	at the	beginning		of	the year			1,397,849	1,505,792
Cash and	cash equivalents	at the end		of	the	year			1,601,783	1,397,849
Analysis	ofchanges in net debt
									Other
				1	September				non cash	31August
						2020		Cash flowf	movement	2021
Cash at bank and in hand					1,397,849			203,934		1,601,783
Debt due within one year Bank loans						942,914		(157,683)	(626,236)	158,995
Debt due after one year Bank loans									626,236	626,236
Obligations under finance		leases				4,084		(4,084)
						450,851		365,701		816,552

Freehold	land is not depreciated
Freehold	buildings:	-Variable	according	to the building	and written	off over
		the expected useful		life (see note	below)
Freehold	improvements	- Over the	useful economic life ofthe improvement
Computer	equipment	- 25'/0 on	cost
Fixtures and fittings		- between	10'/0 and 25'/0 on cost
Motor vehicles		- 25'/0 on	cost

			2021f	2020
The school	fees income comprises:
Gross fees			6,871,585	6,717,794
Less:	Scholarships		130,809	123,467
	Bursaries		669,915	710,328
	Staff remissions		134,403	166,389
	CV19Summer	tuition fees reduction		329,154
			935,127	1,329,338
			5,936,458	5,388,456

INCOME
							2021	2020
							f.
Pre- and After-school		educational		supervision			26,697	32,691
Entrance fees	and registration		fees				13,050	10,905
Fees in lieu of	notice and late payment				charges		38,006	34,375
Pupil transport							42,552	33,227
Commissions	and other income						155,782	199,573
							276,087	310,771
INVESTMENTS - INVESTMENT				INCOME
							Total	Total
				Unrestricted		Restricted	2021	2020f
Securities investment		income
Equities					7,617	1,013	8,630	9,648

					Total	Total
			Unrestricted	Restrictedf	2021	2020
Bank interest			1,160		1,161	6,864
. OTHER —GRANTS AND DONATIONS
					Total	Total
			Unrestricted	Restricted	2021f	2020
Government	grants	—CJRS	39,916		39,916	207,069
Development	grants	and donations		542	542	2,025
The Westwoodians'		Association		1,500	1,500
Other donations				2,300	2,300	900
			39,916	4,342	44,258	209,994

a) Total	expenditure
			Staff Costs	Support	Depreciation	Total	Total
			(note 9)f	Costs 'E	(note 12) f	2021 f	2020f
Costs of raising funds Financing costs (note 8) Investment management		fees		25,564 3,721		25,564 3,721	75,917 3,666
Total costs of raising funds				29,285		29,285	79,583
Charitable	expenditure
Education	and grant making:
Teaching			3,708,156	375,467	65,830	4,149„453	4,280,464
Welfare			239,398	266,370		505,768	405,039
Premises			164,979	376,197	184,934	726,110	679,845
School administration			383,915	226,153	18,035	628,103	604,514
			4,496,448	1,244, 187	268,799	6,009,434	5,969,862
Governance costs				23,268		23,268	22,969
Education	and grant making		4,496,448	1,267,455	268,799	6,032,702	5,992,831
Total Expenditure			4,496,448	1,296,740	268,799	6,061,987	6,072,414

	2021	2020
Remuneration paid to auditor for audit services Depreciation oftangible fixed assets (all owned)	20,160 268,799	19,806 277,826
Operating lease rentals:
—Land and buildings -Other assets	52,327	49,913

8.	FINANCING	COSTS
				2021	2020
	Bank interest			18,030	24,985
	Lease interest			668	668
	Bank charges			2,493	2,853
	Provision for bad and doubtful		debts	(8,881)	32,927
Other costs				13,254	14,484
				25,564	75,917
9.	STAFF COSTS
				2021	2020f
	The aggregate	payroll costs	for the year were:
	Wages and salaries			3,566,263	3,551,622
	Social security	costs		350,298	330,714
	Other pension	costs		576,285	591,796
	Private medical	insurance		3,602	3,935
				4,496,448	4,478,067

The number of higher paid employees whose annua were 660,000or more was:	l emoluments (excluding employer pens	ion costs)
	2021	2020
	No	No
F70,001 - f80,000
f120,001 - F130,000

					2021	2020
					No	No
The number	with retirement		benefits	accruing:
- in Defined	Contribution	schemes was
					f
Of which the	contributions		amounted	to	5,335	5,337
					No	No
—in Defined	Benefit schemes was				2	2
					f	f
Of which the	contributions		amounted	to	45,392	45,984

ollows:
		2021	2020
Teaching		67	68
Teaching support		18	24
Nursery		15	18
Welfare		17	11
Premises		9	10
Administrative	support	11	11
		137	142
Full time equivalent		117	119

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. INVESTMENTS
					Total	Total
			Unrestrictedf	Restricted F	2021	2020
At 1 September 2020			226,213	34,994	261,207	295,616
Reinvested income				103	103
Amounts withdrawn
Investment management		fees	(3,217)	(504)	(3,721)	(3,666)
(Decrease)/Increase investments	in value of		52,551	8,199	60,750	~30,743
At 31August 2021			275,547	42,792	318,339	261,207
Investments comprise:
Listed investments
Equities			272,339	35,884	308,223	228,910
Cash			3,208	6,908	10,116	32,297
At 31August 2021			275,547	42,792	318,339	261,207

6,250	Lindsell Train Ltd Global Equity B	8.8
9,300	Unicorn Asset Management UK Income	8.4
10,750	FIL Inv Svcs UK Global	7.7
2,850	Royal London UTM UK Equity	7.6
1,400	NB Private Equity Class A Ordinary	7.4
12,500	Montanaro UK Small Ordinary	7.2
8,800	Premier Porffolio UK Multi Cap	6.7
6,750	Aegon AM UK Ethical	6.6
10,000	Montanaro Asset Mgmt Better World	6.4
10,000	lnt Public Partner Ordinary	5.6
13,500	Gresham House Energy Ordinary	5.3

14. DEBTORS
			2021	2020
School fees receivable Reserve for bad and doubfful		debts	110,198 ~71,841	118,177 ~88,888
			39,157	38,141
Other debtors			21,686	15,035
Prepayments and accrued	income		114,810	97,712
			175,653	150,888
15.CREDITORS: amounts falling due within one year
			2021f	2020
Bank loans and overdrafts			158,995	942,914
Net obligations under finance leases				4,084
Deposits from parents			14,757	17,906
Fees received from parents		in advance	319,696	287,893
ofterm
Trade creditors			61,428	115,222
Taxation and social security			86,114	83,541
Other creditors			59,709	123,525
Accruals			48,978	70,707
			749,677	1,645,792
Summary ofmovements	in deferred income
Balance at 1 September 2020				287,893
Additional amounts deferred				319,696
Amounts transferred to SOFA in the year				(287,893)
Balance at 31August 2021				319,696

.CREDITORS: amounts falling due after one y	ear
	2021	2020
	F
Bank loans and overdrafts	626,236
Deposits from parents	181,855	166,063
	808,091	166,063

After 5years		123,960	120,843
Within 2to 5years		39,068	33,651
Within 1 to 2years		18,827	11,569
Due after more than one year		181,855	166,063
Within 1 year		14,757	17,906
		196,612	183,969
. BANK LOAN
		2021f	2020f
The bank loan is repayable	by instalments
Due within 2 to 5years		463,862
Due within 1 to 2 years		162,374
Due after more than one year		626,236
Due within 1 year		158,995	942,914
		785,231	942,9'I4

			2020f
Amounts	falling due:
Due within		1 year	4,084
			4,084

The fut	ure	minimum commitments	under non-cancellabl	e operating le	ases are:
			Land and	buildings	Other
			2021 f	2020	2021	2020f
Within	1	year			50,007	54,743
Between		2 and 5 years			46,085	72,648
					96,092	127,391

			Total	Total
	Unrestricted	Restricted	2021	2020
Tangible fixed assets	6,234,479		6,234,479	6,489,513
Securities investments	275,547	42,792	318,339	261,207
Net current assets/(liabilities)	1,050,343	(18,904)	1,031,439	(97,055)
Long term liabilities	(808,091)		(808,091)	(166,063)
	6,752,278	23,888	6,776,166	6,487,602

		At 1					At 31
		September					August
		2020	Income	Expenditure	Transfersf	Gains f	2021
Restricted Funds
Hannah Warner Scholarship		19,926	(6,808)	(504)		8,199	20,813
Elisabeth Little Prize Fund		400					400
Enjoy Benefits		168	1,000	(1,168)
Individual Learning			1,000				1,000
6'"Form Benches			1,000	(1,000)
Year 11 Leavers'	Ball		500				500
Year 6 Leavers' Books			300	(300)
The Giving Tree		633	542				1,175
		21,127	(2,465)	(2,973)		8,199	23,888
Unrestricted Funds
General Reserve		6,466,375	6,292,266	(6,059,014)		52,551	6,752,178
Total Funds		6,487,502	6,289,801	(6,061,987)		60,750	6,776,066

At 31 August	2021,the	company	had capital	commitments	as follows:	2021	2020
						F
Expenditure	contracted	for but not provided		in the accounts		Nil	Nil

			2021	2020
				E
Net income/(expenditure) for the year (as per the statement offinancial activities)			288,564	(148,524)
Adjustments for:
Depreciation charges			268,799	277,826
(Gains)/losses on investments			(60,750)	30,743
Dividends and interest	from investments		(9,791)	(16,512)
Financing costs			25,564	75,917
Profit on the sale offixed assets				(2,150)
(Increase) in stocks			(3,680)
(Increase)/decrease in	debtors		(24,765)	80,987
(Decrease)/increase in	creditors		(55,940)	9,707
Net cash generated from operating		activities	428,001	307,994
ANALYSIS OF CASH	AND CASH EQUIVALENTS
			2021	2020
Cash at bank and in hand			1,601,783	1,397,849
Total cash and cash	equivalents		1„601,783	1,397,849