Reglstergd number: 01218766
Charity numbor. 270143
ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST
(A company Ilmlted by guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMEfrrrs
FOR THE YEAR ENDED 31 JULY 2021

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST
(A company limitsd by guarantsel
COTr￿ENTS
Page
R•fèrnnc• and administratlvo detalls of the School, Its Trnstoes and advl$grs
Trnstee8' report
Indepondant auditors. report on tho financial statements
9-12
stat•mont of flnanclal activI￿•S
13
Balance sheet
14
Statement of Cash flows
15
Notss to the flnanclal $tstsment8
16-35

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST
{A company Ilmltad by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE SCHOOL, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 JULY 2021
Trusteas
Mr A J Botha, Chaimian1.3.5.6
Mr M Foster, Deputy Chaimwn1,13.5
Mr D Shah, Trustee13.5
Mr3 D Davidson￿Mith, Trusteel.2A
Ms S Evans. Truslee1.2.3.5
Mrs J E Ruff, Tru8teei,14,5
Ms J Lunn. Trustee1,&7
Mr R Kalia, Trustee1A6
Mr J S Williams, Twstee1,3
M15 J Williams, Trustee {appointed 26 Novembor 201911A
Member of Education Commitlge
Member of Development & Fabric Committee
Member of Financ& Conwnittee
4 Membgr of Public Benefit & Marketing Strategy Committee
Member of Remuneration Committee
Member of Risk & Compliance Committee
Member of Safeguarding CorrThittee
Company registered number
01218766
Charlty wgglstornd nvmbor
270143
Registèred office
St Aubyn's School, Buncas Lana, Wocdlord Green. Essex, IG8 9DU
Company se¢retary
Mrs M Foakes
Indopendent oudltors
Haslers. Old Station Road. Loughton, Essex, IG10 4PL
Page 1

ST AUBYN'S IWOODFORD GREENI SCHOOL TRUST
(A company limitad by guarantee}
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 JULY 2021
The Trustees present their annual report together with the audited financAal slalements of the School forthe year
1 August 2020 to 31 July 2021. The Annual report serves the pU￿OSe$ of both a Trustees, report and a directors,
report under company law. The Trustees confim that the Annual report and financial stalgments of thg
charitable company comply with the current statutory requirements. the requirement$ of the charitable company's
go￿rnIng document and the provision$ of the Statement of R￿OrnMended Practice {SORP} applieable to
harities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS102) (effective 1 January 2015) as amended by Update Bulletin 1 leffectNe January
2015).
This report refieds some of the challenges the School has en￿Unlered during the COVID-19 pandemlc. Sch¢)ol
was dosed for 9 weeks in the Lent term. due to a national lockdown, but was able to provide an educational
provision on site for pupils with a parent or parents that were classed as key Workers. Pupi15 at home were
provided remote leaming u$lng various teaching platfoms. From 20 March 2021 we were able to rfropen
fully. As a ￿sUIt of the Covid-19 re8tridions, the Trustees decided that fees would be discounted for the suM￿r
tenn and this is refiecled in the incom& from charitable activities in n¢)te 3.
Objectlves and a¢tSvltle8
a. Pollcl8s and oblectlves
The objectnies of the Charity continue lo be to promote education to children over a range of age8 through thè
provision of the Scho￿. its facilities and ils staff.
In setting objectives and planning aGtivilies. the Trustees have given due consideration to general guidance
published by the Charity Commission relating to Public Benefrt. Induding guidanca 'Public Benefrt: running a
charity {PB2)'.
b. Strategles for achlevlng objectlves
The Board of Govemols regularfy reviews the perfom)ance of the School to en$ur8 that edu¢*ional standards
are maintained and prepares development plans to ensure the faalities of the School meet educational
uirements.
c. Activities undertaken to achieve objectives
During the year urKler revlew, further Investsnent wa8 m￿je in the provlsion of additional edLKational resources,
including new comput&rs and iPads for pupib. In addition awustic pangls ￿re added to thé Sports Hall.
Page 2

ST AUBYfrfs (WOODFORD GREENI SCHOOL TRUST
(A Company Ilmlted by guarante81
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
Objectlves and actlvltles lcontinuedl
d. Social investment policios
The School promotes Education for Social Rosponslbilty {ESR) acros$ thg School communty and this is evident
irb lesson planning and themes for assemblig$.
The three key prlnciples are..
FOUNDATIONS OF PURPOSE Understanding that twe happiness comes from understanding cffle's spirituality
rather than sIm￿Y hawng more- {the consumption mentslty).
ETHICAL ECONOMIES Puplis need to recognise thè unsustainable nature of our present global economy and
the inequalthes which il creaes. This is about understanding the responsibilty of the wealthy, the educated and
th& privileged in bringing about thange. change whith will dwelop $ystems to protect plangtary resource$ for
future generations and Systems th* create opportunities ft)r a better future for those less fortunate than
themselves.
SUSTAINABLE FUTURES Understanding that we live on a finite ptanet limited resour￿$, and that
continual growth on a finite planet is not P￿Ible, is of paramount importance. Understanding that ¢i￿￿1?T
gconomi9s and sustainable approachgs have to bo dgveloped are at the heart of addressing this mis¢oncgPtion.
The above infomialion will help teachers detemiing which of the three lick boxes applies to their lesson.
The Eco£ommittee. achieved the EC￿schOols Gregn Flag Award and continued to encourage the rewling of
food waste. Holroyd Howe (HHI. our caterers. continued to operate a Food Waste Program. Sending food waste
to landfill is the most hamiful option to the envirorbmenl due to the methane gases released into the atmosphere.
The food waste is collected and tsken to facilities wlth anaerobi¢ digestion. where food 18 biodegraded through
mi¢r¢)organism$ Into composvlertiliser as well as biogas, which is turned into energy and vehicle fuel. Some of
the energy produced is used by HH to run their ¢)porations. The Eco£ommittee also laLtnched weekly Ec
Challenges to be completed at home.
Sch￿[ Council arranged a charity event to support Unlcef- the ShowSHARE appeal. Old and unwanted shoe8
were collected and senl for re-use. Senior School Council spearheadod a whole s¢hty)l in((iative to collect food
for the Rgdbridgo foodbank, part of tho Trussell Trust.
We are brfnglng up our chlldren In a workl ￿ere we are con8umlng so much that we are uslng up wlal
resources faster than they can be replenished. ESR is all about fulfilled lives and sustainable l￿ftg. We are
helping lo prepare the children of today to bgcome tho pioneers of change for tomorrow. pKJneers who put
people before profrt and who believe fvture generations deserve the same opportunities that we enjoy tCKiay.
e. Grant4naklng FJoll¢le8
The School has tsyo stholarships available each year in Years 7 and 8. These are for a maximum award of 50%
per pupil.
P4e3

ST AUBYN'S ￿000F0RD GREEN) SCHOOL TRUST
(A company15mlt￿ by guarantso}
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
ObJg¢tlves and a¢tl¥ltlos {¢ontlnuod)
f. Maln actlvltles undertaken to furtherthe Schoofs purposes for the publlc benefit
The School supports gduc*ion in the local and w•Jer community. We ask I￿al primary schools to take part in
various Sporting activiiies at the School and provid& transport for their pupils. using our minibuses and drivers.
This year tho restrictions Imposed by the Covld - 19 pandemlc have contlnued to Impact ¢)ur sportlng acti￿lIeS
with other schools.
Thé Sch¢X)I provides annual $thOla￿h1p$ offering a reduction in fees of up lo 500A for 2 pupils in Year 7 and 2
Pupils in Year 8. The School has an Assisted Places schemg pioviding a full assisted place for a pupil in ea¢h
year group from Year 3 for the remainder of their school career at Sl Aubyn's. During this academic year, th@
School prowded ossi$led places of up lo 11)OQh of fees for 4 pupi18. The inlention is to continue awarding a new
A8SiStéd Place each year, and this year the School has set aside tha sum of £51.54012020.. t48,9801 for th
fund.
The School supported seven charities during the year includlng Cancer Research. Hav￿} House Hospice.
GOSH. Jeans 4 Genes. Childrgn in need and Corn￿ Reiief.
From time to time. the School offers pathng and the use of our facilities to Haven House, the Ictal hospice for
children, offering end of lrfe care.
Strategic r•port
A¢hlevom•nts and porf0m￿nc•
. Main achievements of tho School
Tho School has had a successful year as a result of steady pupil numbers and good financial management. The
surplus for the year was £515.404 12020.. £489,805), which is available lo provide for ftrture developments
covered in plans for the future, outlined below, and in furtherance of the School's d)aritable aclivities.
b. Kgy p8rf0rn)ance Indlutoys
The School continues lo provide an excellent. all round, e¢JuGation lor bw and girfs frcrfn 3 to 13, wh￿h is non
Selecti￿ al the maln polnt of entry. Pupll numbers remain excellent at 527 and the School has a full roll.
Key academic results include:
At 11+ tho offer of 7 awards to pupils.. the$8 awards were to other Independent S¢htsJl$.
89% of pupi18 8111+ were offered places at Independent School8 and mst pupils at 11+ and 13+ athEved their
first choice Sthools.
Of the 15 pupll8 who Sat for selectlve entry at 13+ 11 ac￿pIed places at Independent Schools. Two of the
remaining 4 pupils accepted place8 at State Boarding Schools and 2 did not sit for seledive entry.
Page 4

ST AUBYN'S IWOODFORD GREENI SCHOOL TRUST
{A company limited by guarantee)
TRUSTEES. REPORT {Co￿lNUED}
FOR THE YEAR ENDED 31 JULY 2021
Strategic report {continuedl
Achlevements and perfomiance Icontlnuedl
c. Ravlaw of acthiltlos
In Sport, participalion was very limited this year due lo the Covid-19 rgstrictions.
In Mu$i¢, drama and dance=
104 pupils passed LAMDA (London Academy of Music and Dramatic Art) 8peech exams.
32 pupils pa8sad Ceccheth. Dance exams and 7 pupi18 Passed Brft18h Arts Bronze Medal Dance exams.
School ran variou$ extra<urricular acti￿tIeS in music, 0$ and when pemiiited. adhering to social distanclng.
Music lessons were delivered each week by specialist teachers and the School offers instrumantal lessons on an
individual basis, wth 16 peripaletic staff visiting each week. Several new groups were crealed,. a wind en$emble'
upper string an$ombl&,' h)war string &nsamble; guitar ens6mble', Year 4 brass group and Year 5 brass group.
These events and oppcrtunities not have been possible without the adaptivè team of staff in the
department.
Music plays a big part in most school produ¢tion$. Thi8 year Nursery. Reception 8nd Year 1 pupils made 8
Nativity wdeo. Year 2 ptDduced an on line performance of 'Plaslic Piratos., with input from parents recording
sKtions al home that was then edited in school. Year 5 delivered 'Sherlod( and Cinders.. aJain wi(h
perfomiances recorded remotely with help from parent5 and on line acting lessons. Year 6 took part in 'How to
SuNive a Shakespeare Pla￿. which was perfom)ed lo a socially distanced audience in ￿h0O1. Year 8 performed
'The Day the Intemet Died" which was shot in various locations arovnd tho Schcol.
Recycling and Eco4niliatives corbtinue, with the recycling of paper and plastics. phasing out single use plastic
items in school and participation in the Walk to Sthool programme. run in Conjunction ¥Mth the London Borough
of Redbridge.
The Cadets Corps con*inues to be a popular after school activty. although somewhat curtailed during the Covid-
19 pandemic. We continue to adapt, but wth our eore principles in focus. Our aim is to make the experience fun
and energetic. but with valuable èxperiences that are not found in other school activities.
d. Fundraising activitiès and income generation
The prfndpal funding of the School continues lo be the tultion for the educational SO￿1C9S prowded.
e. Investment policy and perlomian¢e
The School has invest*J funds in prowty to Provide rental in￿)n￿ which part funds the bursaries awarded.
Flnanelal revlew
a. Going ¢oncem
After making approprkate enquiries, the Twstees have 8 r&gsonabl8 expectation that the SchcK)I has adequate
resourees to continue in operational existence for the near future. For this reason. they continue to adopt the
going concern b88is in preparing financial statements. Further details regarding th8 adoption of the going
concern basis can be found bn the accounting policies.
Page 5

ST AUBYN'S IWOODFORD GREEN} SCHOOL TRUST
IA company IlmS1od by guaranto91
TRUSTEES. REPORT {CONTINUEO)
FOR THE YEAR ENDED 31 JULY 2021
b. Ro$erYes pollcy
At the end of the financial year the Charlty had free reserves of £2,270,706 (2020.. £1,571,695) which comprises
net currenl assets. Thesè are eam)arked for future development. as well as furtherance of ￿ School's
charitable aclivtiies. The Trustees will continue to seek lo ensure that adequate werves are maintained to cover
omorggn¢iss and to be available for futurg development projects.
c. Prlnclpal rlsks and uncertalntles
The sch¢)ol is dependent on fees pald for the educational seNices provided, 80 in twnes of recession there is a
risk that pupil numbers will drop. Careful budgeting and control of costs is key to dealing with periods of
economic uncertainty. The Trustees are mindful of the risk of future economic unc&rtainty and bear this in mind
whon planning fLrtura d&velopments and when considerin9 the level of fees to be charges.
d. FIna￿[al risk managam6nt objectlves and pollcles
The Trustees have an approved Statement of Financial Controls to safeguard the assets of Ihe Charity. There
8re two authorised bank$ and on& aulhorised building society and the Tnjstees on the Firbance Committee
discuss all invostments and thon refgr to the Board for final approval. Trustees Careful￿ consider the risk
fjlement of any proposed investment. with a wew lo minimising any risk to the assets of the Charity.
•. Prlnclpal lundlng
The prfnclpal fundlng of the School continues to be tho tuition fees d)atYJed for the ed￿atIonal serv￿$
prowded.
Structure¥ gov8rnanco and management
a. Constltutlon
st Aubyn's (Woodford Green} School Trust is regislered as a charitable compary lim6ted by guarantse and w&8
set up by a Memorandum ofAssociation.
b. M•thod$ of appolntm•nt or èlectlon of Trustees
The management of the School Is the responsibillty of the Trustees who are elected and ccw)tgd under the
terms of the Memorandum ofAsscKiation.
c. Organlsational Structuro and de¢l$lon4naklng pollcles
The Truslees determine the ger¢eTal potiw of the Scho￿. The day to day running of the school 1$ delegated to
the Hgadmaster, supported by the Bursar and other members of the Senior Management Team. Thg
administration of th¢ School is undertaken within the poI￿leS and budgets approved by the Trustees, which
provide for significant income and expenditure and other decisions {induding capital projects> to be referred to
the Trustees for prior approval.
Page 6

ST AUBYN'S ￿00DFoRD GREENI SCHOOL TRUST
{A company limit￿ by guarnntsel
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2021
struetur¢* govomanca and managoment l¢ontinuodl
d. Pollclg$ adoptgd for th¢ Inductlon and tralnlng of Trust99S
All new Trustees are gNen an induction programme on joiniro the Charity. Trustees take part In relevant trainlng
courses.
e. Pay policy for key management petsonnel
A remuneration committee, compr18ed of fNe Trustees, meets annually to discuss and set the1gv81 of salaries
for key personnel.
f. R8lated party r8latlonshlps
Tha Board of Gov&mors is madg up entirely of volunteers aside from the transactions diselosed in Note 26.
Parents also contribute both by ratsing money and in helping to dayto day support to tsachers and children.
g. Financial rlsk management
The Truste88 have a$se$8ed the major risks to which the School is gxposed, in particular those related to th
operations and finances of the S¢h¢xJl, and are satisfied that Sy3tems and procedure5 are in place io mitigate
exposure to the major risk.
Plans for lulure porlods
We WIM continue with internal refurt)ishment across the School with particular regard to impromng classrooms.
the 8cience laboratory, sports hall a¢ou5tics, toilgls and playgrounds. The Trustees will also continue to address
longer term plans to ensure th8 Charity continuo$ to ts objortNg5.
PwJe 7

ST AUBYN'S ￿00DFoRD GREEN) SCHOOL TRUST
{A ¢ompany Ilmtted by guarantsel
TRUSTEES. REPORT ICOWnNUED)
FOR THE YEAR ENDED a1 JULY 2021
statamant of Trust8￿. responsibilitios
The Trustees (who are also the directors of the School for t
purposes of cofflpally law) are responsible for
preparing the Trustees, report including the Strategic report and the financial statements in ac¢ordan¢e with
8ppli¢3ble law and United Kingdom Accounting Standards {
nited Kingdom Generally Accepted Acmunting
Practice).
Company law requires the Trustees to prepare ffinanci81 state
ts for each fi'nancial year. Under company law,
the TnJstee8 mu81 not approve the financlal statements unless they are satisfied that they give a true and fair
Vigw of th& $tatg of affairs of tha S¢hcbJl and of 11$ incoming rgsourcas and application of resources. including its
irvyne and expgnditur8, for that pgriod. In preparing th9$9 fina
cial statements, the Trustees are required to..
nsistant￿..
P {FRS 1021..
onable and prudent..
1021 have been followed. subject to any material
$nts',
sis unless it 1$ inappropriate lo presume thal the
select suitable accounting policies and then apply them
observe the melhc*Js and principles of the Charities SO
make judgements and accounting estimates that are rea
state whether applicable UK Accounting Standards (FR
departures disciosed and explained in thg financial $tste
prepare the financial slalements on the going concem b
School will continue in business.
The Trustees are responsible for keeping adequate a￿ountin
the School's transactions and disc105e wrth reasorkable accura
and enable them to en$ure th8t the finan¢ial $tatement$
responsible for Safeguarding the assets of the Sthc<Jl and h
and detection ol fraud and othér irregularitié8.
records that are sufficient to show and explain
y at any time the financial posltion of the School
ty with tha Companies Ad 2006. They are also
Ce for taknng reasonable 8tep8 lor the prevention
Dls¢lo$uro of Infomiation lo audltors
Each of the persons who are Trustees at the tlme when this Trustees, report is appr¢)ved has Confi￿ned that:
so far as that Trustee is aware, Ihere is no relevant audit infomiation of whith the ¢hariV$ auditors org
unaware, and
that Trustee has t*en all the steps that ought to have been taken as a Trustee In order lo be aware of
any rgl&vant a￿lIt infomiation and to establish that the charitys audriors are aware of that infomiation.
Audlto
The auditors, Haslers. have indieated theirwillingness to conllnue In office. The de8lgnated Tru8tee8 will propose
8 motion reappointing the auditors al a meeting of the Trustsès.
Approved by order of the membars of the board of Trustees on 18 November 2021 and signed on their behalf
by..
MrAJ
tha
{Chair of Trustee81
Page 8

## **ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (A company limited by guarantee)** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST** 

## **Opinion** 

We have audited the financial statements of St Aubyn's (Woodford Green) School Trust (the 'school') for the year ended 31 July 2021 which comprise the Statement of Financial Activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 July 2021 and of its incoming resources and application of resources, including its income and expenditure for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. 

Page 9 



## **ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (A company limited by guarantee)** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (CONTINUED)** 

## **Other information** 

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinion on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Trustees' Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements. 

- the Trustees' Report and the Strategic Report have been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report including the Strategic Report. 

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of Trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

Page 10 



## **ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST** 

## **(A company limited by guarantee)** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (CONTINUED)** 

## **Responsibilities of trustees** 

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Auditors' responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Procedures performed to address these were as follows: 

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud. This included corroboration by review of Board Minutes and review of correspondence with relevant bodies, 

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process, 

- Undertaking testing designed to test the controls in place within the procurement system including access and controls in relation to banking. 

- Identifying and testing journal entries, in particular any unusual journal entries posted around the year-end and journal entries posted by infrequent system users. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report. 

Page 11 



## **ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST** 

## **(A company limited by guarantee)** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST (CONTINUED)** 

## **Use of our report** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. 


## **Laura Ambrose (Senior statutory auditor)** 

for and on behalf of **Haslers** 

Chartered Accountants Statutory Auditor 

Old Station Road 

Loughton 

Essex 

IG10 4PL 

18 November 2021 

Page 12 



ST AUBYN'S ￿00DFoRD GREEN) SCHOOL TRUST
{A company limited by guarantsel
STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME ANO EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2021
Restrlcted Unrestrlctsd
funds
funds
2021
2021
Total
funds
2021
Total
fvnds
2020
Income from:
Donations. legacies and govemment
grants
Charitable activitses
Investments
45,634
5,603,513
59.049
600
45,634
5,603,513
74049
163,054
&308,385
81.426
15,000
Other Income
Total Income
Expondlturg on:
Charltable acllvliles
15,000
5.708.796
5.723.796
&552,865
15,OlX)
5.193.392
5,208.392
5,063,060
Total expondllure
16,000
6.193.392
5.208.392
5,063,060
Net movement in funds
R•conclllation of funds:
Total funds brought fO￿ard
Net movement in fvnds
515A04
515,404
489,805
380,000
8,860,895
515004
9,240.895
51S.404
8.751.090
380.000
9.376.299
9.756.299
9,240,895
Total funds carrfgd fonvard
Th6 Statemènt of Flnancial Actlvitle8 Includes all gains and los￿ rocognised in tho year.
The notes on pages 16 to 35 form part ofthesa financial statements.
Page13

ST AUBYN'S (WOODFORD GREENI SCHOOL TRUST
IA company Ilmlted by guarantee)
REGISTERED NUMBER: 01218766
BALANCE SHEET
AS AT 31 JULY 2021
2021
2020
Notg
Flxed assets
Tangible assets
Investment property
11
12
7.339.102
380,000
7,513.209
380.CQO
7.719.102
7,893,209
Current assets
Debtors
Cash at bank and in hand
13
79,740
2.9￿371
89,041
2, 132.968
2.984111
2,222,009
Creditors". amount8 falling due within one
14
1713A051
(650,314)
Not ¢urr•nt assats
2.270.706
1,571,695
Total assets less current Ilabllltles
9,989,808
9.464,904
Creditors.. amounts falling due after nTr)re
than ono year
15
(233.509)
(224,LXVJ
Net as$•ts axcluding pansion asset
9.756.299
9,240,895
Total net assets
9,756,299
9.240.895
Charity funds
Restricted funds
Unrestricted funds
16
16
380.000
9.376,299
380,OCi7
8,860,895
Total funds
9.756,299
9,240,895
The Truste88 &kncMledge Ihelr fesponsibilitios for complying with the requirements of Ihe Act with respect to
accounting re￿IdS and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees on 18 November 2021 and
signed on thelr behalf by..
MrAJ Botha
(Chair of Trustees)
The notes on p￿eS 16 tt135 fomi part ofthese financial statements.
Page 14

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST
{A company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2021
2021
2020
Cash flows from operatlng activities
Net rash used in operating activities
701,105
447.803
Cash flows from inv8sting activlties
DThiidends, interests and rents from investments
Purchase of tangible fixed assets
74.049
81,426
13.7511 (773,525J
Net cash provlded byllused In) Inve$tlng actlvlties
70.298
(692.0991
Change in and cash equlvalents In the year
Cash and cash equival8nls at th? beginning of the year
771,403
2.132.968
(244,2961
2.37T.264
Cash and cash equlvalents at the end of the year
2.904.371
2, 132,968
The notes on pages 16 to 35 fomi part of these financial statements
Page15

ST AUBYN'S ￿00DFoRD GREENI SCHOOL TRUST
(A company limitèd by guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
A¢¢ountlng pollclos
1.1 Basis of proparation of financial statements
The financial statements have been prepared in a￿ordance with the Charitiès SORP {FRS 102) -
counting and Reporting by Charities: Statement of Recomm8nded Practice applicable to charityas
preparing their accounts in a￿rdance with the FinancAal Reporting Standard applicable in the UK
and Republic of Ireland (FRS 1021 {effeclive 1 January 2015}, the Financial Reporting Standard
#pplicable in the UK and Republic of [relar￿ (FRS 102) and the Companies Act 20C6.
st Aubyn's (Woodford Green) School Trust meets the definition of a public benefit entity under FRS
102. Assets and liabilities are initially recognised at historical cost or transaction value unless
othemise Stated In the relevant ac£ountlng p)Ilcy.
1.2 In¢om•
All irKome is rettjgnised once School has entitlement lo th8 income, it is probablg that the
Incomè will be recelved and the amount of income recaivable can be measured reliabty.
Grants are included in the Statement of financial actNitie$ on a recewable basis. The balance of
Income received for specific Pufposes but not experKled during the period is shown in thè relevant
funds on the Balance sheet. Where income received in a(fvance of entitlement of r￿elP1, its
recognition is deferred and included in creditors as deferred income. Where ent￿ement occurs
before income is recoived, Ihe income 1$ accrued.
￿n￿me tax recovorable in relat#?n to investrnent income is recognised at the time th& investm&nt
in¢omo is r8c8ivabl8.
1.3 Exp•ndltur•
Expe￿Ilture is rgcognised once there 1$ alogal or conslructrve cknligation to transfer economic benefft
lo a third party, it is probable that a transfer of economic benefrts will be required in settlement and
the amount of the obligation can be measured reliabty. Expenditure is classified by activity. The costs
of each Bclivity are made up of the total of diwl ￿$tS and shared costs. including support costs
involved in undertaking each actiwty- Direct Costs attributable to a single activity are allocated direclty
lo that activity. Shared costs which wntribute to more than one activily and support costs which are
not attributable to a single activity are apportioned between those activities on a basis consistent with
the use of resources. Central staff costs are allocated on tho basi$ of time spont, and daprociation
charges all(Kaled on the portion of the asset's use.
Expendlturg on chariloble artivitie$ is incurred on direct￿ undertaking tho actNitlos whlch further the
S¢h¢XJl's objectives, as well as any a$so￿ated $upport costs.
1A Govemment grants
Govemment grants relating to tangible fLYod a$set$ arg Ireatad as daferred income and released to
the Statement of financial actmlies over the expected useful live8 of the assets concemed. Other
grants ar8 ¢redlted tr> the Statement of financial activities as the related expenditure is inGurred.
Page 16

ST AUBYN'S IWOODFORD GREEN) SCHOOL TRUST
{A company Ilmlt•d by guarnntsel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
A¢¢ounUng pollclgs (contlnuodl
1.5 Tanglble flxed assets and depreclatlon
Tangible fixed assds are Initial￿ recognised at cost. Aft&r recognition, undarth8 cost modal. tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losse5. All costs incurred to bring a tsngible fixed asset into its intended working condition should be
induded in the measurement of cost.
Depreciation is c*barged $0 a$ to allocate the ¢￿t of tangible fixed assets less their residual val
overtheir eS￿mated useful INes.
Depreciation is promded on the following bases:
Freehcld property
2% per annum ofthe value of buildiro$
Motor vghicies
20Yo reducing balance
Fixtures and frttings
20% straight line
Computer and office ouipment . 33.3*A Straight line
1.6 Debtors
Trado and other debtOTS are recognised at the settlement amount after any tsde diwiunt ¢)ffered.
PrepayTnents are valued at the amount prepaid net of any trade discounts due.
1.7 Cash at bankand In hand
Cash at bank and in hand indudé6 cash and 8hort4emi hlghly Ilquld Investments with a short maturity
of three months or less from the date of acquisilion or opening of the deposit or similar account.
1.8 Llabllltles and provlslons
Liabilitigs are recognised when there 15 an obligation at the Balance 5heel date as a result of a past
event, rt is probable that a transfer of economic benefrt WIN be requlred In setttement. and the amount
of the settlement can be estimated reliably.
Liabilrties are recognised at Ihe amount Ihal the School anticipates it wll pay lo settle the dobt or the
amount il has received as advanced payments forthe goods or serwtss rt must provide.
Provisions are measured al the best estimate of the amounts require(I to $8tlle the obligation. Where
the effect of the time value of money is material, the provision is based on the prgsenl value of those
amounts, diseountad al th& pr8-tax discount rate that reflects the risks specffic to the liability. The
un¥winding of the discount is re￿niSed In the Statement of financial activities a8 a finance cosL
1.9 Flnanclal Instrumonls
Thè Sch¢)ol ￿trIY ha8 financlal assets and ￿nandal IlabSlitle8 of a klnd that quallfy as baslc finan￿81
instruments. Bas￿ financial instruments are initially recognised at transaction value and subsequenuy
maasured at their settlement value with the exception of bank b)ans vthich are subsequenuy
measured at amrtised cost using the effective interest method.
Page 17

ST AUBYN'S ￿00DFoRD GREENI SCHOOL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
Ac¢ountlng pollcles (¢ontlnued}
1.10 Operatlng leasès
Rentals paid under operating leases are charged to the Sialement ol financial actMtie5 on a straight
Ilne basis ¢)ver the lease temi.
1.11 Penslons
Retirement bonefts to employees of th& school arg pr¢)vided by the Teachers. Pension Scheme
rTPS"l and a stakeholder compliant pension stheme. The Teacher5. Pension Scheme is a defined
benefit scheme and the assets are held sgparat¢ly from thos8 of the school.
The TPS is an unfunded scheme and contributions are ealculaled 80 as to Spread the cost of
pensions over emph)yees' working lives with the school in such a way that thg pension cost is
substantially level per¢entage of ¢urront and fvture pensionable payroll. The contributions are
determined by the Govemment Actuary on the basis of qUad￿nn181 valuations using a prospectNe
unil ¢redit method. As slated In Note 20. the TPS Is a muttl•mployer scheme and there is
insufficient information available lo use defined benefit accounting. Thg TPS is thorafora twt8d as
a defined contribution scheme for a¢￿untIng purposes and the Contributions r8cognised in the
pernd to which they relate.
A stskeholder complSant penslon scheme 1$ also offered to any employee not cUrren￿Y contributing
to a pgnsion schemg.
1.12 Fund xcountlng
General funds are unrestric¢ed funds which are available for use at thg discrgtion of th& Truste8s in
furtherance of the general cbjectives of the Sch¢JoJ and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The alm and use of each de8ignaled fund Is set out In the noles to the financial
statements.
Restricted funds are funds which are to be used in accordance wrth specific restriction5 Thnposed by
donors or which have been raised by the School for particular purposes. The costs of raising and
administering such funds are charged against the specffic fund. The aim and use of each re8tricted
fund is set out in the notes to the financial statements.
Investment ineth*. gains and Ios8e8 are allcKated to the appropriate fund.
Page 18

ST AUBYN'S IWOODFORD GREEN} SCHOOL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
Incomg from donatlons, logacles and government grants
Unrestrlcted
funds
2021
Total
funds
2021
Donatlons
Government Grants (Fudough)
45.634
45.634
45.634
45.634
Un￿Stnc￿ed
funds
2020
Total
funds
2020
Donations
Government Grants {Furfough)
163,004
163,004
163,054
163,054
Paga 19

ST AU8YN'S (WOODFORD GREEN) SCHOOL TRUST
{A company Ilmlt•d by guarnntso)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
In¢omo from ¢har5table activi￿8$
Unrestrlcted
funds
2021
Tt)tal
funds
2021
Schcx)I fees
Sports hall
Aftgr Sch¢￿1 club
5.552,822
20,273
30.418
6,552,822
20.273
30.418
Total 2021
5,603,513
5,603,513
Un￿trICted
funds
2020
Total
fvnds
2020
Schwl fees
Sports hall
After school club
&210,454
30,959
66.972
4210,454
30.959
66.972
Totsl 2020
4308.385
&308.385
Invastmont Income
Restrlctsd UnraslrSctad
funds
funds
2021
2021
Total
fund5
2021
Rent receivable
Interest receivable
15.000
58.838
211
73M38
Totsl 2021
15,000
59,049
74.049
Page 20

ST AUBYN'S ￿00DFoRD GREEN) SCHOOL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
Invostmont incomo Icontinuedl
Restncl8d Unrestrictod
funds
funds
2020
2020
Total
funds
2020
Rant receivable
Interest receivable
15.000
59,484
6,942
74,484
6.942
Total 2020
15.000
66,426
81,426
Other Incomlng resour¢
Unro$trl¢tsd
funds
2021
Total
funds
2021
Tol
funds
2020
Photographs
600
Anatysis of oxpenditure on charitable aclivltie$
Summary by fund ty
Restrlctsd Unreslrf¢ted
funds
funds
2021
2021
Total
funds
2021
School fees
Sports hall
After school dub
15,000
5,054,110
88.382
50,920
5,069,110
88.362
50,920
Total 2021
15.000
S,193,392
6,208.392
Page21

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST
{A company Ilmlted by guarantsel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
Analys￿ of expondtturn on charltabl& activities (continued
Summary by fund typo l¢ontlnuedl
Restllcled Unrestiicted
funds
fvnds
2020
2020
Tot81
funds
2020
School fees
Sports hall
After school club
1&000
4.951. 190
51.215
4&655
4.966. 190
51,215
45.655
Total 2020
14000 5.048.060 4063.060
Anatysk of expondituro by acttvftles
Actlvltlos
undortaken
directly
2021
Total
nds
2021
Schc
Sports hall
After school dub
5,C69,110
88,362
50.920
5,069,110
88.362
$0,920
Total 2021
5,208.392
5,208,392
Ac¢wit
undertaken
di￿¢￿
2020
Total
funds
2tr20
Schoc4
Sports hall
After ￿h¢)0[ club
4,966, 190
51,215
45.655
4,966, 190
51,215
44655
Total 2020
&063,060
5.063.060
Page 22

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST
(A company Ilmlted by guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
Analysis of oxpenditure by activlli8s (continuedl
Analys18 of dliect costs
After school
lub
2021
Total
funds
2021
School Sports hall
2021
2021
Staff costs
Depreclation
Teaching resources
Governance costs
Staff trainlng
Administrative costs
Premises expenses
Catering costs
Insuranc&
Interest payable
Advertising
Aqotor and Iravelling
Scholarship and assisted Pla￿ funding
Legal and profe88ional
Sch¢)ol inspertiorb co$ts
3.486.340
177,858
296,178
8.760
9,393
9,328
577,584
321.571
38,247
3.674
38,675
1.385
64.918
31,430
3.769
83.380
50.919
3.620.639
177.858
296,178
8.760
9.393
9,328
$82,566
321.571
38,247
3.674
38,675
1,385
64.918
31A30
3.769
4,982
Total 2021
5.069,110
88.362
50.919
5.208.391
Page 23

ST AUBYTrfs IWOODFORD GREEN) SCHOOL TRUST
IA company limited by guaranteè)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
Analy$b of oxpgndlture by actlvl¢les {conllnu0d)
An8ty818 of dlrect tosts {contlnued)
Aftersthool
club
2020
Tot
funds
2020
School Sports hall
2020
2020
Staff costs
Depreciation
Teaching resources
Govemance costs
Staff training
Administrative costs
Premises expenses
Catering costs
Insurance
Interest payable
Advertising
Motor and traveNing
Scholarship and assisted pla￿9 funding
Legal and professlonal
Schcol inspection costs
3,415, 113
180,683
264,348
7, 740
17.449
9&684
438,069
312.917
52.630
45,006
45,655
3,505, 774
180,683
264.348
7. 740
17.449
95,684
444,278
312.917
52,630
3,622
33.541
2,235
68.248
68,257
5,654
6,209
33,541
2.235
6&248
68.257
4654
Totsl 2020
4.966, 190
51.215
45.655
4063,060
Pagg 24

ST AUBYN'S IWOODFORD GREEN) SCHOOL TRUST
IA company Ilmlted by guaranteg)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
Audltorn. remunoratlon
2021
2020
Auditors, remungration- audit
7,295
7.740
Staff costs
2021
2020
Wages and salaries
Social security Costs
Contribution to defined contribution pen8ion schemes
2.872,325
284.997
463,317
2. 796.348
27&024
434.402
3,620,639
3,504774
During the year. fvrlough monies were recieved tcrtalling £45.634 {2020: £163,004). This has been shown
seper8lety in thg accounts a$ 0 9overnm8nt granL
The average number of persons employed by the School during the yegrwas as follows:
2021
No.
No.
Teachers
Teaching Assistants
Sports Hdl
Admin
other
42
19
48
23
11
24
12
The number of employees whose empl¢)yee benefrt8 (excluding omploygr pension costs) exceeded
£60,000 was:
2021
No.
2020
In the band £60,001- £70,000
In the band £70,001- £80,000
In the band £90.001- £100.000
Page 25

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST
(A company Ilmlted by guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
10. Trusteos. remungratlon and oxponso$
During the year, no Trustee8 re￿]Ved any remuneratlon or olher benefits (2020- £NILJ.
During the year ended 31 Juty 2021, no Trusteo expgnw have been incurred (2020- £NIL).
In additbn to the above, tr8nsactions wth related parties be seen on Note 26.
11. Tanglbl• Ilxed assets
Freehold
pro￿rty
Motor Flxturos and
vohl¢las
flttlng$
Total
Cost or valuatlon
Al 1 August 2020
Additions
8.711,711
3,751
24,660
$65,184
9,301,SSS
3,751
Al 31 Juty 2021
8,715,462
24.660
565,184
9.306.306
Depreciation
At 1 August 2020
Charge for the year
1,260.572
162.829
8,180
3,623
519.694
21 A06
1.788.346
177,858
Al 31 Juty2021
IN13,401
11803
541.000
1.966.204
Not book valuo
At 31 ju￿ 2021
7.302.081
12057
24,184
7,339,102
At 31 July 2020
7,451, 139
16,48Q
45,590
7,513,209
Induded in land and building$ 1$ freehold land at valuation of £1,074.031 <2020.. £1.074.0311 with a cost
of £562,992 {2020.' £562,992) wh￿h is not depreciated.
Page 26

ST AUBYN'S IWOODFORD GREENI SCHOOL TRUST
IA company limlied by guarnntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
12. Invo$lmgnt propgrty
Long term
leasehokl
Invèstment
PrO￿rtY
Valuation
At 1 August 2020
380.000
At 31 July 2021
380.000
The 2020 valuation$ were by the TrL￿tees, on an open market value for exlsting use ba818.
2021
2020
Historic cost
276.000
275,¢XKI
13. Debtors
2021
2020
Dutr within onè y•ar
Trade debtors
other debtors
Prepayments and accrued income
¥454
6,250
49,036
22.024
67,017
79,740
89,041
CredlioT8: Amounts falllng du8 wlthln one year
2021
2020
Trade creditors
other taxation and social security
other creditors
37,038
71N74
184.083
420,810
32,432
72,278
226.866
318,738
Accruals and defrrred income
713AOS
650,314
Pago 27

ST AUBYN'S IWOODFORD GREENI SCHOOL TRUST
IA ¢ompany limtted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
15. Creditors: Amounts falling du8 after morn than ono y
2021
2020
Refundable dep)sits
233,609
224.CQ9
Page 28

ST AUBYN'S (WOODFORD GREEN) SCHOOL TRUST
(A company Ilmlted by guarantsel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
16. Statsment of funds
ststement of funds- ¢urr¢Tht year
Balance at 1
August 2020
Transfers
Balance at
In10￿ 31 July 2021
Income Expenditure
Unrestricted funds
Deslgnated funds
Assisted Places Funds
Parent Teacher Associatton-
fomierly SASS fund
301,507
(s2.P￿4)
61.640
300.363
14.553
2,013
16,566
316.060
152.684)
53.553
316.929
General fund8
General Funds
8.544,835
5.708.796 16.140.708)
(53.653> 9,059.370
Total Unrestricted funds
8.860.895
5.708.796 16,193,392)
9,376,299
Restrlcted funds
ColleyA88isled Places Fund
380.000
15.000
115,000)
380,000
Total of funds
9.240.896
5.723.796 16.208.392)
9,766,299
The De8ign8ted Assisted Places Funds are being built UP Ovor a number ol years so as to then be able to
make an Investsnent that will provide annual income for assissted places thereafter. Existing assisted
places are being madg through tho ColleyAssisled Places Fund.
The Collay Assisted Places Fund provldes fundlng towards assisted places c06ts.
Parent Toach&r Association
balan￿.
Formerty SASS Fund represents the Parent Teacher Associal￿n cash
Page 29

ST AUBYN'S IWOODFORD GREENI SCHOOL TRUST
(A ¢ompany limltsd by guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED31 JULY2021
16. Stslemgnt of funds {contlnued)
statement of funds- prlor ye•r
BalanGe al
l August
2019
Transfers
Balan￿ al
inlout 31 July 2020
Income Expenditure
Unrestricted funds
Deslgfftat￿ funds
A831Sted Places Funds
Parent Teacher Associalion-
formerfy SASS fund
307.18r
(54, 710)
48.980
301,50T
23.733
(9. 180)
14.553
330,920
(54,710)
39,800
316,060
General funds
General Funds
8.040, 17Q
5.537.815 (4.993.350)
(39.800) &544.835
Total Unrestrfcted funds
8,371,090
{5,048,060)
4860,895
Restricted funds
Colley Assisted Plac8s Fund
380,000
14000
(15,0(10)
380,000
Total of funds
8,751,090
15,000
(&063,060)
9.240,895
Page 30

ST AUBYN'S IWOODFORD GREEN) SCHOOL TRUST
(A Company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMEF
FOR THE YEAR ENDED 31 JULY 2021
17. Summary offunds
Summary of fund$- Current yoar
Balance at 1
August 2020
Transfe
Balance at
Inlout 31 July 2021
Incom• Expend5ture
Designated funds
General funds
Restricted fvnds
316.060
8.S44.835
380,000
(52,684)
5.708.796 (5.140.708)
15,000
(15,000)
63.553
316.929
{63.663} 9.069.370
380,000
9,240.895
5.723,796 15.208.392)
9,756.299
Summary of funds- prlor ygar
Belance al
1 Augusl
2019
Ttsnsfe
BalaTr￿ at
in/0ut 31 July 2020
Income Expendltu
Designated funds
General funds
Restricted funds
330.920
8,040. 170
380,L
(54. 710)
5,537.815 (4,993,350)
t&ooo
(i&ooo)
39,800
316.060
(39,800) &544.835
380,000
8, 751,090
5,552,865 (4063,060)
9,240,895
18. Anatysls of net as$8ts betwoen fvnds
Anatysis of net assets between funds- ¢urrent year
Restrfcted Unrostrlcted
funds
funds
2021
2021
Total
funds
2021
Tangible fixed asset5
Investment pr¢)pgty
Current assets
Credltors due within one year
Creditors due in n￿re than one year
7.339,102
7,339,102
380,000
2,984,111
2.984,111
1713.405)
(713.4051
1233,509) (233.509)
380,000
Total
380.000
9,376.299
9,756,299
Page 31

ST AUBYN'S IWOODFORD GREEN) SCHOOL TRUST
(A company Ilmlted by guarante8)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
18. Anatysis of nat assets betw•on funds {continued
Anatysls of net assets between funds - prlor year
Restncted Unrestricted
fvnds
fvnds
2020
2020
Tofal
fvnds
2020
Tangible fixed assets
Investment propety
Current assets
Creditors due within one y9ar
Creditors due in more than one year
7,513.209
7,513,209
380.000
2,222,008
(650.313)
(224.tX)9)
2,222,008
(659.313)
(224,009)
Total
380,000
8,860,895
9,240,895
19. Reconclllallon of net movement In funds to net cash Ilow from op?ratlng activltlas
2021
2020
Not inwm& for the year (as par Statwnent of Fina￿la1 Adivities}
515,404
489,805
Adjustments for:
Depreciation charges
Dividends. interests and rents from investments
Decreasel(Increa8e) In debtors
Increasel{decreasel in creditors
177,858
174.049)
9.301
72.591
180.320
(81.426)
(70,720)
(102.420)
Net cash provided by operating a¢tivitie$
701.IOS
415.559
20. Analysls of cash and cash equlvalents
2021
2020
Cash in hand
2,904.371
2. 132,968
Totsl cash and cash equlvalènts
1904.371
2. 132.968
Page 32

ST AUBYWS ￿00DFoRD GREEN) SCHOOL TRUST
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
21. Analysis of changes in net debt
At 1 August
2020 Cash flows
At 31 July
2021
Cash al bank and in hand
2.132,967
771A04
2,904,371
2,132,967
771,404
2.904.371
22. Capltsl commltmonts
2021
2020
Contracted for tyJt not prowded in the$& financial statem&nts
At 31 July 2020 the school had committed to refurbish windry•VS across the schooL Refurbishmgnts were
carried out in the Summer holidays.
Page 33

ST AUBYN'S ￿00DFoRD GREENI SCHOOL TRUST
IA company Ilmited by guarant¢o1
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
Pen$lon ¢ommltment8
Teachers. Ponslon Scheme
Introductlon
The Teachers. Pension Scheme (TPS) is 8 statutory, contributory, defined benefft Scheme, govemed by
the Teachers, Pensions Regulations {2010} and. from 1 April 2014, by the Teachers, Pension Scheme
Regulations 2014. The school participatos in the scheme so membership is automotic for lull-tim8
teachers.
The TPS is an unfunded scheme and members contribute on a'pay a8 you go, basis- thase contributions
along with those made by employers are credited to the Ex¢hequ8r. Retirement and other pgnsK*n
bengfits aro paid by public fvnds providad by Parliamont.
Valuatlon of the Teachèts, P•n$lon Schomè
The Government Actuary, using nom)al actuarial principles, conducts a fomial actuarial reviw of the TPS
in accordance wth the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014
published by HM Treasury every 4 years. The aim of the rewew is to specify the level of future
contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs,
destgn of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at
31 March 2016. The valuation report was published bythe Departsnent for Education on 5 March 2019.
The key oloments of tho valuation and $ubsoquont consultation are:
' gmploygr contr1t￿lon rates set at 23.68% of pension8b19 pay (including g 0.08% administration levy}
total scheme liabilities {pensions currenlty in payment and the estimated cost of future benefits) for
8eMce lo the effective date of £218.100 million and notional assets (estimated future contribution8
together wth the notional invesknenls hekj at the valu*ion d*el of £196,100 million, giving a notional
past seThice deficit of £22,000 mill￿￿
. the SCAPE rate. set by HMT. is used to delemiine the notional investment relum. The ¢UTrent SGqPE
rate is 2.4% above thè rale of CPI. assumed real rate of retum is 2.4% In excess of pri￿$ and 2% in
exces8 of eamings. The rate of real eamings growth is assumed to be 2.20fi. The assumed nominal r*0
of retum including eamings grovrth is 4.45%.
The naxt valuaticffi resull is dua to be implemènted from 1 April 2023.
The employeffs renSiC￿ costs P8id to TPS in the period amounted to £435,997 (2020.. £410.6401. A copy
of the valuation report and SLtpporting documentation is on the Teachers. Pensions webslte
{https.'IthM.teacherspension8.co.uklnewslemployer312019104Aeachers-pensions•valuation-reporLaspx}.
Under the definitions set out in FRS 102. the TPS is a multi*mployer pension scheme. The trust has
accounted for its contributions to the scheme as tF it ware a defined contribution scheme. The trust has set
out above the infom)ation available on the scheme.
At the year end the pension liabilty due to the TPS was £51,483 {202Tr. £51,683).
Page 34

ST AUBYN'S (WOODFORD GREENI SCHOOL TRUST
(A Company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
Oporallng Iwo commltmgnts
At 31 Juty 2021 the School had commitments to make future minimum 18ase payrnent$ under non-
cancellab18 operating leases as follows:
2021
2020
Not later than 1 year
Laterlhan 1 year and not later than 5 years
47.450
10.975
58,425
25. Governorn. Ind•mnlty in8uranc•
The governors, are covered against claims of negligence and error wtth professional indemnty insurance
wh(ch ha8 a limit of £5.000.000 (2020: £5.000,000).
26. Related party transactions
During Ihg year thore were transadions with the follchving Tetat&J partie8'.
2021
2020
Achitéctural servlces provkled by M Foster
Professional services provided by Fox Witltams LLP
5.950
1.780
2.280
Page 35