2022-08-31-accounts - The Peterborough School Limited

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					Page
Company		information			1-2
Chairman's		Statement
Directors'	report (incorporating			the Strategic report)	4-20
Independent		auditor's	report		21-24
Financial	statements		of the company		25-46

DIRECTORS	DIRECTORS	DIRECTORS	AND ADVISORS	AND ADVISORS
					Mr K P Craig BA	(Hons)			FCCA CTA		(Chairman)
Directors					Mr P H W Southern		FRICS			(Vice Chairman)		(resigned
					13/10/2022)
					Revd Canon TAlban			Jones		MBE (Appointed
					21/03/2022)
					Ms LAyres LLB
					Mr K Chakraborty	MEng			(Appointed		05/05/2022)
					Mrs S Dixon BA	(Hons)
					Dr R E R Gifford	BSc(Hons) PhD FHEA
					Mrs K C Hart BA	(Hons)
					Mr P Hayes
					Prof CJ Howe MA		PhD		ScD FLS
					Dr N Menon MRCS		BMBS			(Hons) (Appointed
					21/03/2022)
					Mrs H L Milligan-Smith				LLB (Hons)
					Mrs E Payne
					Mr P T Simmons
					Mr C W Spinley (Resigned					08/02/2022)
					Dr J SThompson	LMSSA MBBS DRCOG
					The Right Revd RS			Ladds		SCC LRSC BEd		(Hons)
					(Provost: non-voting			member)
Company		Secretary			Mr SJ Dharamraj	MBA			MA BSc(Hons)
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	BSc			(Hons) PGCE NPQH
Bursar					Mr SJ Dharamraj	MBA			MA BSc(Hans)
					RSM UK Audit LLP
Auditors					The Pinnacle
					170 Midsummer	Boulevard
					Milton Keynes
					Buckinghamshire
					MK9 1BP
					Barclays Bank pic
Bankers					Leicester
					LE87 2BB
					Hunt 8 Coombs	Solicitors
Solicitors					35 Thorpe Road
					Peterborough
					PE3 6AG

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

Principal Ac	tivities ofthe Year	tivities ofthe Year	tivities ofthe Year
The principal run a number	activity of the school is the delivery of summer school activities and			of the	education to pupils school is open at	up to 18years other times for	of age. We also use by the local
community.	Pupil numbers	at the	school during	the	year were as follows:
			2021/2022			2020/2021
Senior School			285			251
Preparatory	School		171			179
Pre-Preparatory School			46			47
Total			502			477
			2021/2022			2020/2021
Senior School			Boys 134		Girls 151	Boys 123	Girls 128
Preparatory	School		92		79	92	87
Pre-Preparatory School			22		24	19	28
Total			248		254	234	243

Mr	K P Craig				Finance and General	Purposes,
Mr	P Southern	(resigned	13l10/2022)		Finance and General	Purposes
The	Revd TAlbon Jones		(appointed	21/03/22)
Ms	LAyres				Finance and General	Purposes

			Note	Unrestricted	Restricted	Total	Total
				Funds f	Funds	2022	2021f
Income and endowments	from:
Charitable Activities
School fees receivable corn			2	6,647,797	(9,241)	6,638,556	5,936,458
Ancillary trading income			3	401,744		401,744	276,087
Other trading activities
Non-ancillary trading income				58,845		58,845	23,207
Investments
Investm ent in e				7,938	108	8,046	8,630
Bank and other interest				9,030	4	9,034	1,161
Other —Grants and donations
Grants and donations				297	5,811	6,108	44,258
Other income				17,794		17,794
TOTAL INCOME				7,143,445	(3,318)	7,140,127	6,289,801
Expenditure on:
Raising funds
Financing costs				53,703		53,703	25,564
investment management				3,852	138	3,990	3,721
				57,555	138	57,693	29,285
Charitable Activities
Education and grant making			7	6,823,934	6,832	6,830,766	6,032,702
TOTAL EXPENDITURE				6,881,489	6,970	6,888,459	6,061,987
Net (losses)/gains on investment		assets	13	(23,335)	(1,855)	(25,190)	60,750
NET INCOME				238,621	(12,143)	226,478	288,564
Transfers between funds			21	9,687	(9,687)
Net Movement in funds for the		year		248,308	(21,830)	226,478	288,564
Fund balances at 1 September 2021				6,752,178	23,888	6,776,066	6,487,502
FUND BALANCES AS AT	31 AUGUST		2022	7,000,486	2,058	7,002,544	6,776,066

		Note	Unrestricted	Restricted	Total
			Funds f	Funds	2021f
Income and endowments	from:
Charitable Activities
School fees receivable		2	5,944,279	(7,821)	5,936,458
Ancillary trading income		3	276,087		276,087
Other trading activities
Non-ancillary trading income			23,207		23,207
Investments
Investment income			7,617	1,013	8,630
Bank and other interest			1,160	1	1,161
Other —Grants and donations
Grants and donations			39,916	4,342	44,258
Other income
TOTAL INCOME			6,292,266	(2,465)	6,289,801
Expenditure on:
Raising funds
Financing costs			25,564		25,564
Investment management			3,217	504	3,721
TOTAL DEDUCTIBLE COSTS			28,781	504	29,285
Charitable Activities
Education and grant making		7	6,030,233	2,469	6,032,702
TOTAL EXPENDITURE			6,059,014	2,973	6,061,987
Net(losses)/gainsoninvestmentassets		13	52,551	8,199	60,750
NET INCOME			285,803	2,761	288,564
Transfers between funds
Net Movement in funds for the year			285,803	2,761	288,564
Fund balances at 1 September 2020			6,466,375	21,127	6,487,502
FUND BALANCES AS AT	31 AUGUST	2021	6,752,178	23,888	6,776,066

		Note		2022		2021
				F
FIXEDASSETS
Tangible assets		12		6,063,300		6,234,479
Investments		13		289,159		318,339
				6,352,459		6,552,818
CURRENT ASSETS
Stock			3,537		3,680
Debtors		14	215,782		175,653
Cash at bank and	in hand		2,182,651		1,601,783
			2,401,9?0		1,781,116
CURRENT LIABILITIES
Creditors payable	within one year	15	1,091,616		749,677
NET CURRENT				1,310,354		1,031,439
ASSETS/(LIABILITIES)
TOTAL ASSETS LIABILITIES	LESS CURRENT			7,662,813		7,584,257
LONG TERM LIABILITIES
Creditors payable	after one year	16		660,169		808,091
TOTAL NET ASSETS				7,002,644		6,776,166
REPRESENTED	BY:
Called up share	capital			100		100
RESTRICTED FUNDS
Restricted income	funds	21		2,058		23,888
UNRESTRICTED	FUNDS
General reserve		21		7,000,486		6,752,178
				7,002,644		6,776,166

						Note	2022	2021
								f.
Net cash	provided by operating		activities			27	846,193	428,001
Investing	activities
Dividends Proceeds	and interest from the sale of	tangible	fixed	assets			16,028	9,791
Purchase	of tangible fixed	assets					(75,046)	(47,889)
Proceeds	from sale of investments						22,261	64,330
Uninvested	cash (increase)/decrease						(18,271)	22,181
Purchase Repayment Net cash	of investments of obligations used in investing	under finance activities		leases			(55,028)	(82,893) ~4,D84 (38,564)
Financing	activities
Repayments of borrowing							(157,660)	(161,767)
Financing	costs						(52,637)	(23,736)
Net cash	used in financing	activities					(210,297)	(185,503)
Increase	in cash and cash equivalents			in	the year		580,868	203,934
Cash and	cash equivalents	at the	beginning		of the year		1,601,783	1,397,849
Cash and	cash equivalents	at the end		of	the year		2,182,651	1,601,783
Analysis	ofchanges in net debt

Analysis of	changes in net debt
				Other
		1 September		non cash	31 August
		2021	Cash flow	movement	2022
				F
Cash at bank and in hand		1,601,783	580,868		2,182,651
Debt due within one year
Bank loans		158,995	(3,934)		155,061
Debt due after one year
Bank loans		626,236	(153,726)		472,510
Obligations	under finance leases
		816,552	738,528		1,555,080

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 of the improvement
Computer		equipment	-25% on	cost
Fixtures	and fittings		-between	10%	and 25% on cost
Motor vehicles			-25% on	cost

INCOME
						2022f	2021f
Pre- and After-school		educational		supervision		50,466	26,697
Entrance fees	and registration		fees			14,850	13,050
Fees in lieu of	notice	and late	payment		charges	61,851	38,006
Pupil transport						55,139	42,552
Commissions	and other income					219,438	155,782
						401,744	276,087

INVESTM	ENTS - IN	VESTMENT	INCOME
					Total	Total
			Unrestrictedf	Restrictedf	2022f	2021f
Securities	investment	income
Equities			7,938	108	8,046	8,630

				Total	Total
		Unrestrictedf	Restrictedf	2022f	2021f
Bank	interest	9,030		9,034	1,161

. OTHER —GRAN	T	S AND DONATIO	NS
					Total	Total
			Unrestrictedf	Restrictedf	2022f	2021f
Government grants		—CJRS				39,916
Development grants		and donations		483	483	542
The Westwoodians'		Association		1,000	1,000	1,500
The Peterborough	School PTG			4,328	4,328
Other donations			297		297	2,300
			297	5,811	6,108	44,258

a) Total	expenditure	expenditure
				Staff Costs	Support	Depreciation	Total	Total
				(note 9)	Costs	(note 12)	2022	2021
Costs of	raising funds
Financing Investment	costs (note 8) management		fees		53,703 3,990		53,703 3,990	25,564 3,721
Total costs		of raising funds			57,693		57,693	29,285
Charitable		expenditure
Education		and grant making:
Teaching				3,956,104	651,651	56,160	4,663,915	4,149,453
Welfare Premises				338,552 193,764	261,175 484,016	187,006	599,727 864,786	505,768 726.110
School administration				398,656	262,036	18,487	679,179	628,103
				4,887,076	1,658,878	261,653	6,807,607	6,009,434
Governance		costs			23,159		23,159	23,268
Education		and grant making		4,887,076	1,682,037	261,653	6,830,766	6,032,702
Total Expenditure				4,887,076	1,739,730	261,653	6,888,459	6,061,987

Total expenditure includes:	Total expenditure includes:
The Peterborough School Limited		reimburses		Governors		forout of pocket expenses	including	travel
subsistence and accommodation,		where a claim			is made.	None (2021: none) of the	Governors	were
reimbursed expenses during	the year.
						2022		2021
Remuneration paid to auditor	for	audit	services			21,600		20,160
Depreciation of tangible fixed assets			(all owned)			261,653	268,799
Operating lease rentals:
- Land and buildings
- Other assets						53,808		52,327

8.	FINANCING COSTS	FINANCING COSTS
				2022	2021
					F
	Bank interest			18,227	18,030
	Lease interest				668
	Bank charges			2,921	2,493
	Provision for bad and doubtful		debts	15,614	(8,881)
	Other costs			16,941	13,254
				53,703	25,564
9.	STAFF COSTS
				2022	2021
					F
	The aggregate payroll costs for the year were: Wages and salaries			3,875,926	3,566,263
	Social security	costs		393,768	350,298
	Other pension	costs		612,730	576,285
	Private medical	insurance		4,652	3,602
				4,887,076	4,496,448

The Head	and Bursar	are clas	sed	by t	he School as	being the	Key Manage	ment Personnel.
								2022	2021
Aggregate	employee	benefits	of	Key	Management	Personnel	including	262,009	253,738
employers'	Nl

The number of higher paid employees whose annu were 260,000 or more was:	al emoluments (excluding employer pens	ion costs)
	2022	2021
	No	No
f70,001 - f80,000
2120,001 - 2130,000

						2022	2021
						No	No
The number	with retirement		benefits		accruing:
- in Defined	Contribution	schemes		was
						R
Of which the	contributions	amounted			to	5,502	5,335
						No	No
- in Defined	Benefit schemes		was
						f
Of which the	contributions	amounted			to	46,640	45,392

he avera ollows:	ge m	onthly number of employees during	the year calculated on a head count	basis was
			2022	2021
Teaching			66	67
Teaching	support		22	18
Nursery			15	15
Welfare			23	17
Premises			10	9
Administrative		support	11	11
			147	137
Full time	equiv	alent	125	117

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. INVESTMENTS
				Total	Total
		Unrestrictedf	Restrictedf	2022	2021f
At 1 September 2021		275,547	42,792	318,339	261,207
Reinvested income					103
Transfer between funds		40,799	(40,799)
Investment management	fees	(3,852)	(138)	(3,990)	(3,721)
(Decrease)/Increase in	value of
investments		23,335	1,855	25,190	60,750
At 31August 2022		289,159		289,159	318,339
Investments comprise:
Listed investments
Equities		260,772		260,772	308,223
Cash		28,387		28,387	10,116
At 31 August 2022		289,159		289,159	318,339

			0/
6,250	Lindsell Train Ltd Global Equity B		9.8
10,750	FIL Inv Svcs UK Global		8.9
1,400	NB Private Equity Class A Ordinary		8.6
2,850	Royal London UTM UK Equity		8.5
9,300	Unicorn Asset Management	UK Income	8.3
8,800	Premier Portfolio UK Multi	Cap	6.6
10,000	Int Public Partner Ordinary		6.3
13,000	Gore Street Energy Ordinary		6.0
6,750	Aegon AM UK Ethical		5.9
10,000	Montanaro Asset Mgmt Better World		5.8
6,750	Utilico Emerging Markets	Ordinary	5.7
12,500	Montanaro UK Small		5.3
2,500	Fundsmith LLP Equity Int		5.1

									2022	2021
									f.
School fees receivable Reserve for bad and doubtful						debts			140,466 ~74,758	110,198 ~71,041
									65,708	39,157
Other debtors									26,757	21,686
Prepayments and accrued					income				123,317	114,810
									215,782	175,653
15. CREDITORS: amounts				falling due within				one year
									2022	2021
Bank loans and overdrafts									155,061	158,995
Deposits	from parents								18,808	14,757
Fees received from		parents			in	advance			491,247	319,696
of term
Trade creditors									185,442	61,428
Taxation	and social	security							96,591	86,114
Other creditors									110,736	59,709
Accruals									33,731	48,978
									1,091,616	749,677
Summary	of movements				in	deferred	income
Balance	at 1 September			2021						319,696
Additional	amounts	deferred								491,247
Amounts	transferred	to	SOFA			in the year				(319,696)
Balance	at 31 August		2022							491,247

. CREDITORS: amounts falling due after one ye	ar
	2022	2021f
Bank loans and overdrafts	472,510	626,236
Deposits from parents	187,659	181,855
	660,169	808,091

After 5years		127,863	123,960
Within 2 to 5years		44,645	39,068
Within 1 to 2 years		15,151	18,827
Due after more than one year		187,659	181,855
Within 1 year		18,808	14,757
		206,467	196,612
17. BANK LOAN
		2022	2021
		F	f.
The bank loan is repayable	by instalments
Due within 2 to 5 years		311,458	463,862
Due within 1 to 2 years		161,052	162,374
Due after more than one year		472,510	626,236
Due within 1 year		155,061	158,995
		627,571	785,231

			Land and buildings	Land and buildings	Other
			2022	2021	2022	2021
Within	1	year			22,656	50,007
Between		2 and 5 years			27,969	46,085
					50,625	96,092

					Total	Total
		Unrestricted	Restricted		2022	2021
Tangible fixed assets		6,063,300		6,063,300		6,234,479
Securities investments		289,159		289,159		318,339
Net current assets/(liabilities)		1,308,296	2,058	1,310,354		1,031,439
Long term liabilities		(660,169)		(660,169)		(808,091)
		7,000,586	2,058	7,002,644		6,776,166
21. SUMMARY OF MOVEMENTS		ON MAJOR FUNDS
	At 1					At 31
	September					August
	2021	Income	Expenditure	Transfers	Losses f	2022
Restricted Funds
Hannah Warner Scholarship	20,813	(9,133)	(138)	(9,687)	(1,855)
Elisabeth Little Prize Fund	400		(4)			400
Forest School yurt		3,656	(3,656)
Individual Learning	1,000		(1,000)
Year 13Leavers' Prom		1,000	(1,000)
Year 11Leavers' Ball	500	300	(800)
Year 6 Leavers' Books		372	(372)
The Giving Tree	1,175	483				1,658
	23,888	(3,318)	(6,970)	(9,687)	(1,855)	2,058
Unrestricted Funds
General Reserve	6,752,178	7,143,445,	(6,881,489)	9,687	(23,335)	7,000,486
Total Funds	6,776,066	7,140,127	(6,888,459)		(25,190)	7,002,544

At 31 August	2022, the	company had capital	commitments as follows:	2022f	2021
Expenditure	contracted	for but not provided	in the accounts	Nil	Nil

27.RECONCILIATION	OF NET	INCOME	TO	NET	GENERATED FROM	OPERATING
ACTIVITIES
					2022	2021
Net income/(expenditure) for the year statement offinancial activities)			(as	per the	226,478	288„664
Adjustments for:
Depreciation charges					261,653	268,799
Losses/(gains) on investments					25,190	(60,750)
Dividends and interest from investments					(17,080)	(9,791)
Financing costs					53,703	25,564
Profit on the sale of	fixed assets
Decrease/(Increase)	in stocks				143	(3,680)
(Increase) in debtors					(39,077)	(24,765)
Increase/(decrease)	in creditors				335,183	(55,940)
Net cash generated	from operating	activities			846,193	428,001
ANALYSIS OF CASH AND CASH EQUIVALENTS
					2022	2021
Cash at bank and in	hand				2,182,651	1,601,783
Total cash and cash equivalents					2,182,651	1,601,783