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|---|---|---|---|---|
|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|
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|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||||||||||||
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|||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|
##
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|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|
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|||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|
##
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##
||||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|
##
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||||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|