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2023-08-31-accounts

Page
Company information 1-2
Chair's Statement
Directors' report (incorporating the Strategic report) 4-20
Independent
auditor's		 report 21-24
Financial statements ofthe company 25-45
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mmunity.
P		 upil numbers
at the		 school during
the		 year were as follows:
2022/2023 2021/2022
Senior School 284 285
Preparatory School 192 171
Pre-Preparatory School 41 46
Total 517 502
2022/2023 2021/2022
Boys Girls Boys Girls
Senior School 134 150 134 151
Preparatory School 87 105 92 79
Pre-Preparatory School 23 18 22 24
Total 244 273 248 254

Mr K P Crai Finance and General Pu oses, Earl oses, Earl Years
Mr P Southern resi ned 13/10/2022 Finance and General Pur oses
The Revd TAlban Jones
Ms LA res Finance and General Pur oses
Mr K Chakrabo
Mrs S Dixon Safeguarding, Education
Dr EGifford Education
Mrs K Hart Safe uardin, Com laints A
eal Panel
MrPHa es Develo ment and Marketin
Prof C Howe resi ned 28/02/2023 Education
Mr G H nes a ointed 06/12/2022 Finance and General Pu oses
Dr N Menon
Mrs H Milli
an-Smith		 Finance and General Pur oses
Mrs EPa ne Develo ment and Marketin
Mr P Simmons Finance and General Pu oses, Crisis Mana ement
Dr JThompson Health
Panel		 and Safety, Safeguarding, Complaints Appeal
The Right Revd R Ladds (resigned on
6/11/2023

Note Unrestricted Restricted Total Total
Funds Funds 2023 2022
E E
Income and endowments from:
Charitable
Activities
School fees receivable 7,198,744 7,198,744 6,638,556
Ancillary
trading
income		 432,612 432,612 401,744
Other trading activities
Non-ancillary
trading
income		 60,184 60,184 58,845
Investments
Investment
income		 9,981 9,981 8,046
Bank and other interest 104,657 16 104,673 9,034
Other —Grants and donations
Grants and donations 1,000 3,154 4,154 6,108
Other income 17,794
TOTAL INCOIIE 7,807,178 3,170 7,810,348 7,140,127
Expenditure
on:
Raising funds
Financing
costs		 85,887 85,887 53,703
Investment
management		 3,822 3,822 3,990
89,709 89,709 57,693
Charitable
Activities
Education
and grant making		 7 7,405,103 2,286 7,407,389 6,830,766
TOTAL EXPENDITURE 7,494,812 2,286 7,497,098 6,888,459
Net losses on investment assets 13 (15,515) (15,515) (25,190)
NET INCOME 296,851 884 297,735 226,478
Transfers
between
funds		 21
Net Movement
in funds		 for the year 296,851 884 297,735 226,478
Fund balances at 1 September 2022 7,000,486 2,058 7,002,544 6,776,066
FUND BALANCES AS AT 31 AUGUST 2023 7,297,337 2,942 7,300,279 7,002,544

ATEMENT OF FINANCIAL ACT IVITIES —COMPA RATIVE
FIGURES		 BYFUND TYPE
Note Unrestricted Restricted Total
Funds Funds 2022
Income and endowments from:
Charitable
Activities
School fees receivable 2 6,647,797 (9,241) 6,638,556
Ancillary
trading
income		 3 401,744 401,744
Other trading
activities
Non-ancillary
trading
income		 58,845 58,845
Investments
Investment
income		 7,938 108 8,046
Bank and other interest 9,030 4 9,034
Other - Grants and donations
Grants and donations 297 5,811 6,108
Other income 17,794 17,?94
TOTAL INCOME 7,143,445 (3,318) 7,140,127
Expenditure
on:
Raising funds
Financing costs 53,703 53,703
Investment
management		 3,852 138 3,990
TOTAL DEDUCTIBLE COSTS 57,555 138 57,693
Charitable
Activities
Education
and grant making		 7 6,823,934 6,832 6,830,766
TOTAL EXPENDITURE 6,881,489 6,970 6,888,459
Net (losses)/gains
on investment		 assets 13 (23,335) (1,855) (25,190)
NET INCOME 238,621 (12,143) 226,478
Transfers
between
funds		 9,687 (9,687)
Net Movement
in funds for the year		 248,308 (21,830) 226,478
Fund balances at 1 September 2021 6,752,178 23,888 6,776,066
FUND BALANCES AS AT 31AUGUST 2022 7,000,486 2,058 7,002,544

Note 2023 2022
FIXEDASSETS
Tangible assets 12 6,225,490 6,063,300
Investments 13 319,976 289,159
6,545,466 6,352,459
CURRENT ASSETS
Stock 5,439 3,537
Debtors 14 264,337 215,782
Cash at bank and in hand 2,018,991 2,182,651
2,288,767 2,401,970
CURRENT LIABILITIES
Creditors payable
within one year		 15 1,033,817 1,091,616
NET CURRENT ASSETS 1,254,950 1,310,354
TOTAL ASSETSLESSCURRENT
LIABILITIES		 7,800,416 7,662,813
LONG TERM LIABILITIES
Creditors payable after one year 16 500,037 660,169
TOTAL NET ASSETS 7,300,379 7,002,644
REPRESENTED BY:
Called up share capital 100 100
RESTRICTED FUNDS
Restricted
income funds		 21 2,942 2,058
UNRESTRICTED FUNDS
General reserve 21 7,297,337 7,000,486
7,300,379 7,002,644

Note 2023 2022
E
Net cash provided
by operating		 activities 27 442,509 846,193
Investing activities
Dividends and interest 96,869 16,028
Proceeds from the sale oftangible fixed assets
Purchase oftangible
fixed assets		 (421,784) (75,046)
Proceeds from sale ofinvestments 14,398 22,261
Uninvested
Purchase		 cash (increase)/decrease
of investments		 (17,550)
~43,I30		 (18,271)
Net cash used
in investing		 activities (371,247) (55,028)
Financing activities
Repayments
of borrowing		 (150,925) (157,660)
Financing costs (83,997) (52,637)
Net cash used
in financing		 activities (234,922) (210,297)
(Decrease)/increase
in cash and		 cash equivalents in the (163,660) 580,868
year
Cash and cash equivalents at the beginning of the year 2,182,651 1,601,783
Cash and cash equivalents at the end of the year 2,018,991 2,182,651
Analysis ofchanges
in net debt
Other
1 September non cash 31August
2022 Cash flow movement 2023f
Cash at bank and in hand 2, 182,651 (163,660) 2,018,991
Debt due within one year
Bank loans 155,061 6,317 161,378
Debt due after one year
Bank loans 472,510 (157,242) 315,268
1,555,080 (12,735) 1,542,345

2023 2022
The school fees income comprises:
Gross fees 8,323,043 7,617,328
Less: Scholarships 164,676 154,024
Bursaries 826,884 687,153
Staff remissions 132,739 137,595
1,124,299 978,772
7,198,744 6,638,556

CHARITABL
INCOME		 E ACT IVITIES - A NCIL LARY TRADING
2023 2022
E
Pre- and After-school educational supervision 56,591 50,466
Entrance fees
Fees in lieu of		 and registration
notice and late		 fees
payment		 charges 11,750
79,184		 14,850
61,851
Pupil transport 65,232 55,139
Commissions and other income 219,855 219,438
432,612 401,744

Securities investment income
Equities
2023 2022
9,981 8,046

Total Total
Unrestricted Restricted 2023 2022
Bank interest 104,657 16 104,673 9,034

Total Total
Unrestrictedf Restricted 2023
E		 2022
Development
grants and donations		 884 884 483
The Westwoodians'
The Peterborough
Other donations		 Association
School PTG		 1,000 1,000
270
1,000		 1,000
270
2,000		 1,000
4,328
297
1,000 3,154 4,154 6,108

a) Total expenditure expenditure
Staff Costs Support Depreciation Total Total
(note 9) Costs (note 12) 2023 2022
Costs of raising funds
Financing costs (note 8) 85,887 85,887 53,703
Investment management fees 3,822 3,822 3,990
Total costs ofraising funds 89,709 89,709 57,693
Charitable expenditure
Education and grant making:
Teaching 4,171,342 817,808 42,968 5,032,118 4,663,915
Welfare 403,250 334,900 738,150 599,727
Premises 211,076 423,077 193,420 827,573 864,786
School administration 444,795 318,431 18,160 781,386 679,179
5,230,463 1,894,216 254,548 7,379,227 6,807,607
Governance costs 28,162 28,162 23,159
Education and grant making 5,230,463 1,922,378 254,548 7,407,389 6,830,766
Total Expenditure 5,230,463 2,012,087 254,548 7,497,098 6,888,459

2023 2022
Remuneration
paid to auditor for audit services
Depreciation
oftangible
fixed assets (all owned)
Operating
lease rentals:		 25,800
254,548		 21,600
261,653
- Land and buildings
- Other assets 59,602 53,808

FINANCING COSTS
2023 2022
Bank interest 31,240 18,227
Bank charges 2,960 2,921
Provision for bad and doubtful debts 32,381 15,614
Other costs 19,306 16,941
85,887 53,703
STAFF COSTS
2023 2022
The aggregate payroll costs for the year were:
Wages and salaries 4,259,423 3,875,926
Social security costs 425,665 393,768
Other pension costs 540,556 612,730
Private medical insurance 4,819 4,652
5,230,463 4,887,076

The Head and Bursar are clas sed by the School a s being the Key Manage ment
Personnel.
2023 2022
f.
Aggregate employee benefits of Key Management Personnel including 267,104 262,009
employers' Nl


were E60,000 or more was:		 ug
empoyer
pens		 on coss)
2023 2022
No No
f60,001 - 270,000
F70,001 —E80,000
280,001 - F90,000
F120,001 - F130,000

The average The average monthly monthly number ofemployees during the year calculated on a head count basis was as follows: head count basis was as follows:
2023 2022
Teaching 73 66
Teaching support 24 22
Nursery 15 15
Welfare 24 23
Premises 11 10
Administrative support 13 11
160 147
Full time equivalent 135 125

12. TANGIBLE FIXEDASSE TS
Freehold
Land		 Freehold Freehold Furniture Computer INotor Total
and Buildings Improvements Buildings and Equipment Vehicles
Under Equipment
Construction
Cost
At 1 September 2022 6,898,659 227,042 6,991 770,608 593,669 38,669 8,535,638
Additions 366,152 22,045 4,800 23,741 416,738
Disposals
Projects completed 3,272 (3,272)
At 31August 2023 7,268,083 249,087 8,519 794,349 593,669 38,669 8,952,376
Depreciation
At 1 September 2022 1,133,044 39,097 737,965 537,485 24,747 2,472,338
Charge for the year 174,825 11,725 18,215 45,387 4,396 254,548
Disposals
At 31August 2023 1,307,869 50,822 756,180 582,872 29,143 2726 886
Net book value
31August 2023 5,960,214 198,265 8,519 38,169 10,797 9,526 6,225,490
31August 2022 5,765,615 187,945 6,991 32,643 56,184 13,922 6,063,300

Total Total
2023 2022
E
At 1 September 2022 289,159 318,339
New money invested 50,000
Reinvested income 154
Investment
management
fees
(Decrease)/Increase
in value of		 (3,822) (3,990)
investments ~15,515 25,190
At 31August 2023 319,976 289,159
Investments comprise:
Listed investments
Equities 274,039 260,772
Cash 45,937 28,387
At 31August 2023 319,976 289,159
6,250
10,750
2,850
1,400
9,300
6,750
8,800
20,000
10,000
2,500
4,800		 Lindsell Train Ltd Global Equity B
FIL Inv Svcs UK Global
Royal London
UTM UK Equity
NB Private
Equity Class A Ordinary
Unicorn Asset Management
UK Income
Aegon AM UK Ethical
Premier
Portfolio UK Multi Cap
Royal London Short High Yield
Montanaro
Asset Mgmt Better World
Fundsmith
LLP Equity
Int
RLUM Limited RL Sust Leaders Trust		 94
8.7
8.4
7.9
7.8
5.7
5.5
5.5
5.3
5.2
5.0

DEBTORS
2023 2022
E
School fees receivable
Reserve for bad and doubtful		 debts 141,300
~48,688		 140,466
~74,758
92,612 65,708
Other debtors 51,483 26,757
Prepayments
and accrued income		 120,242 123,317
264,337 215,782
CREDITORS: amounts falling due within one year
2023 2022
F
Bank loans and overdrafts 161,378 155,061
Deposits from parents
Fees received from parents		 in 17,536
405,979		 18,808
491,247
advance ofterm
Trade creditors 64,212 185,442
Taxation and social security 104,657 96,591
Other creditors 208,075 110,736
Accruals 71,980 33,731
1,033,817 1,091,616
Summary ofmovements in deferred income
Balance
1 September		 2022 491,247
Additional
amounts		 deferred 405,979
Amounts
transferred		 to SOFA in the year (491,247)
Balance at 31August 2023 405,979

CREDITORS: amounts
falling due after one yea		 r
2023 2022
F
Bank loans and overdrafts 315,268 472,510
Deposits from parents 184,769 187,659
500,037 660,169
After 5 years 122,405 127,863
Within 2 to 5 years 43,378 44,645
Within
1 to 2 years		 18,986 15,151
Due after more than one year 184,769 187,659
Within
1 year		 17,536 18,808
202,305 206,467
BANK LOAN
2023 2022
The bank loan is repayable by instalments
Due within 2to 5years 141,957 311,458
Due within
1 to 2 years		 173,311 161,052
Due after more than one year 315,268 472,510
Due within
1 year		 161,378 155,061
476,646 627,571

Land and buildings Land and buildings Other
2023 2022 2023
E		 2022f
Within 1 year 41,609 22,656
Between 2 and 5years 17,892 27,969
59,501 50,625

Total Total
Unrestricted Restricted 2023 2022
Tangible fixed assets 6,225,490 6,225,490 6,063,300
Securities investments 319,976 319,976 289,159
Net current assets 1,252,008 2,942 1,254,950 1,310,354
Long term liabilities (500,037) (500,037) (660,169)
7,297,437 2,942 7,300,379 7,002,644

21.SUMM ARY OF MO VEMENTS
ON		 MAJOR FU NDS
At 1 At 31
September August
2022 Income Expenditure Transfers Losses 2023
E F. K
Restricted Funds
Elisabeth
Fund		 Little Prize 400 16 (16) 400
Forest School shed 270 (270)
Street Art Mural 2,000 (2,000)
The Giving Tree 1,658 884 2,542
2,058 3,170 (2,286) 2,942
Unrestricted Funds
General Reserve 7,000,486 7,807,178 (7,494,812) (15,515) 7,297,337
Total Funds 7,002,544 7,810,348 .(7,497,098) (15,515) 7,300,279

At 31 August 2023, the company
had capital		 commitments as follows: 2023 2022
Expenditure contracted for but not provided in the accounts E36,011 Nil

2023 2022
F
Net income/(expenditure)
for the year (as per the
statement offinancial activities)		 297,735 226,478
Adjustments
for:
Depreciation
charges
Losses on investments		 254,548
15,515		 261,653
25,190
Dividends
and interest from investments
Financing costs
Decrease/(Increase)
in stocks
Increase
in debtors
(Decrease)/increase
in creditors		 (114,654)
85,887
(1,902)
(30,770)
(63,850)		 (17,080)
53,703
143
(39,077)
335,183
Net cash generated
from		 operating activities 442,509 846,193
ANALYSIS OF CASH AND CASH EQUIVALENTS
2023 2022
'E
Cash at bank and in hand 2,018,991 2,182,651
Total cash and cash equivalents 2,018,991 2,182,651