COMPANY REGISTERED NO: 1229741
REGISTERED CHARITY NO: 271012
THE STUDY (WIMBLEDON) LIMITED
REPORT AND FIIYANCIAL STATEMENTS
31 AUGUST 2021

THE STUDY (WIMBLEDON) LIMITF,D
Page 12
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2021
RLVJEII. OF AcHIEI'kMF.NTS. ACTINITIES A.YD FIITIIRE DEVFLOPfvfEYI TS
The 2020121 academi¢ year has be¢n another dominated by ihe ¢ff¢cis of COVID-19. The first tern) saw a
steady increase in infection numbers. generally. The School remained open and almost unaffected due to the
vigilance of sthlT and a rigid Cleaning and Social di%tancing regiThe. The Spring temi Saw a government-
directed closure of all schix)Is. The SchiM)I was prepared and moved all teaching online. The inconvenience
to parents wa5 recognised by a reduciion in fess by 50/0. The Summer terni saw a semblanc¢ of norniality with
all teaching in the summer terni taking place in the ¢l&ssroom.
The School has maintained its buTsarv programme with additional support for some fwnilies in response to
reques¢S due to the effects of the pandemic.
Ai the year end the School had 313 pupils on roll. The School continues io achieve academic succe55 With
number of pupils gaining scholarships, exhibitions and other su¢h awards to iheir fuiure schools. We are
extremely proud ihal our girls gained places al some ofthe besi and most demanding senior day and boarding
schools in the Country. Our pupils are once again also io be conbTratulated un iheir success in gainingT a total of
55 academic. sport. drama, art and music scholarships and awards. The Study holds the prestlbTiOUS Artsmark
Gold.
The School supported a wide range of extra<urricular activities including music and drama productions.
sporting fixiur¢s. and numerous educational ViSi¢s. Many were adapied during lockdown, with drama and
music productions being filmed and shown to parents onlin¢. For example. the Year 6 girls participated in the
school production 'Legally Blonde. M'hich was filmed. Ih¢n SIrL￿ned online via YouTube. This is now an
established approach adopted &s 8 result of the pandemic. The production received excelleni reviews and The
standard achieved was. as always. impressive.
The School Council meet5 regularly and provides a forum for girls lo express their opinions and raise maiters
concerning their school. Issues are d¢baled in class. and each class elects a representative who takes these
views to ihe Sch()ol Council meeiings.
The Schi)ol supports the wniinuous professional development of staff both ihrough training and regular
performance asse55mertt. Educational training days for all sl&ff are held by the School during the school
holidays and staff are encouraged to att¢nd a wid¢ range of external lrnining courses alongside vi5iling other
educational inslitutions where wssible.
Th¢ S¢h<)ol continues to improve it5 facilities. The major redevelopment of Ihe south side of Wilberfor¢e
House was complet¢d during Ih¢ year. The Board of Govemor5 and its Development CoTnmittee Worked with
architects. other prole5sional advisors and a construction finn to complete this fabulous new faci lity. The old
single storey cla55room block was demolished lo make way for a new two storey building providing
perforniing arts Centre, a new entrance with reception, office and attendant facilities, a library and six
replacement classrooms. The ljoard is confident that tlie improved facilities will impact favourably on teaching
and learning.
The Governors held a successful, web-¢onference planning day in May 2021 to consider new ideas for future
operations.

THE STUDY (￿mBLEDoN) LIMITED
Page 13
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2021
The School benefits from the generosity of a thriving parents association (The Study Association) whose Close
SUPWrt 15 greatly appreciated. The parenis worked hard during the vear raising funds and njnning social events
for the girls and their parent5. The Governors are grdteful to Th¢ Study Association for its continued support
for the School.
Vicky Ellis look up her TDle as Head at the beginning of the 2020121 acadernic year.
FINANCIAI, REVIF.w AND RESiILTS FOR THE YEAR
The Governors report a surplus of income over expenditure of £361.520 for the year ended 31 August 2021
compared with £388,346 for the year ended 31 August 2020. The Balanc¢ She¢l at 31 August 2021 Showed
net assets of £9,168,357 compared with £8,806.837 at 31 August 2020. Reserves al the end of th¢ financial
year the total reserves w¢re £9,168,357 {2020.' £8,806,837).
RISK MAIY AGEMEYT
In order lo review and mit]g￿e risk in a structured arkd systematic way the S¢hool has develoT*d a risk
managemeni matrix and this 15 reviewed by senior managers and by the Board at least annually. Risk in this
context refers to the prospect of uncertain events and their outcomes (hai may have a significant effect on=
operational perforniance. the achievement of aims and obj¢ctives,' or meeting the expectations of stskeholders.
The School monitors ￿tenti&l risks in areas in¢luding governance, Strategy, financi￿. legal. external.
reputation, complian¢¢ and personnel and has identified practices and procedures to Mill￿te these risks. The
Govemors are committed io monitoring the effectiveness of these controls through internal ¢omplian¢¢
monitoring and external audii by appropriately qualkfied profes5ion&ls.
The Board considers the principal risk5 and uncertainties facing the School and th¢ir plans and sirategies for
managing these risks to be:
Sources of income.. The princip￿ source of income is pupil fee5 which cover th¢ costs of running the
School and of developments to continually enhance the educationa] offering. This risk is managed through
f￿USed marketing activities to ensure pupil numbers are sustained, by maintaining the highest standard
rep￿atIOn and through rigorous cash-flow control.
The availability of the highest quality teaching and support statT: This risk is managed through effeclive
recruitment pr￿edUreS, regular training for ail siaff and initiatives aimed at retaining key staff.

THE STUDY (WIMBLEDON) LIMITED
Page 14
STRATEGIC REPORT
FOR THE YEAR ENDED31 AUGUST 2021
GOi￿G Co%cEILN
At ihe time of approving the financia] stsiements, the DirectOTS hav¢ a re&￿nable expectation the
Company has adequate resources to coniinuing in Ope￿lOnal existence for the foreseeable future. The
Dir¢¢tors coniinue to monitor the impact of COVID-19 and tM)tential implications on future operations. The
Directors have undertaken a number of scenario projections io understand the wlential impact on the business
8nd remain satisfied that the Comparty is able to meet its liabilities as tlw fall due over the nell 12 months.
Thus the Directors coniinue io wjopt the going concern basis of a¢wunting in p￿parIng the financial
Statements.
Approved by the Board of Directors at its meeting on 30 NOveM￿r 2021 and signed on its behalf by..
ucker
Chairman

THE STUDY (WIMBLEDON} LIMITED
DIREcfoRS' REPORT
FOR THE YEAR ENDED31 AUGUST 2021
The Board of Direciors are pleased to present th¢ir annual report for the year ended 31 August 2021 under the
Companies Act 2006 and the Charities Act 201 l. together with the audited financial statements for the y¢ar.
REFEREIYC.E AND ADMIP41S'fRATIN'E INFORMATION
The Study Pr¢paralory School ('Ihe Study" Ihe School") was founded in 1893. On 14 October 1975 The
Study (Wimbledon) Limited I'lhe Company"
"the Charily"} w&s incorporat¢d under The Compazkies Act
1948, and on l O November 1975 it acquired the School as a going ¢oncem. The registered Company number
of The Study (Wimbledon) Limited is 1229741, with the liabiliiy of it5 members limited lo £1 each by
gu8rant¢¢. It is a registered Charity, number 271012.
Th¢ Regisiered Office and principal address of the Company are at Spencer House, 4 Peek Crescent,
Wimbledon Common, London. SW19 SER.
DIRFCYOILS
The Directors of the Company who are also ihe Charity Truste¢s and Ihe Govemors of The Study Pr¢paraiory
School who served durin8 the year were:
Mr J Tucker (Chairn14n)
Mr J Bam¢s
Mrs K Greenhalgh (retired 8 June 2021)
Mr S Pole
Mr5 M Aylett
Mrs A F.lysee
Mr5 C Facon
Ms E Picken (appointed 8 June 20211
Mr R Lane
Mr A Johnson
Miss E Trapnell (appointed 15 September 2021)
PRO￿￿.$410NA1. ADI'iSOK% AND KF.). Pfr.RSUNNTr.L
The Head..
Miss V Ellis
Bursar and S¢cTetary lo
the Board of Governors..
Mr P Walker
Address-.
Th¢ Study Preparatory School
Spencer House
4 Peek Crescent
Wimbledon Common
London SW19 SER
Bankers..
Ba￿lay$ Bank Pl¢
Alexandra Road
Wimbledon
London SW19 7JZ
Auditors..
Arnold Hill & Co LLP
Craven House
16 Northumberland Avenue
London WC2N SAP

THE STUDY (WIMBLEDON) LIMITED
Page 16
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 AUGUST 2021
0￿ErrS OF TIIF CH.4RITh'
The Obje￿ of the Chartty in accordance with its Articles of Association is the &lv8ncemenl of education.
The principal aciivity of the Charity continue5 to be the provision of a Day School for 4 -1 l yearwold girls.
STRI'cfi,'RF., GO￿R￿lL￿CE MANAGEiIEYr
GovenblDg Do¢ument
The Company is governed by its Articles of Associatioo lasi amended on 20 January 2011.
GoverDlng Body
The Governors of the School are members of the Company. Director5 under the Companies Act 2006 and
Trusiee5 &s defined by charity law. They are elecied at a full Directors Meeiing on the b&sis of nominations
a¢¢ording to the Board's s￿]fIcatIOnS concerning eligibilit)., personal competen¢e. specialist skills and Ii)cal
availabilily.
The ienns for the ￿p￿in￿￿ent and removal of Governots ar¢18id down in the Articles of Associ￿10n. Under
the Arti¢le5 of Association Trusitts serv¢ for an initial ierni offive years and may be re-appointed for up to
maximum of two further l¢rnis of 3 years. The number of serving Govemors should be between three and
twelve.
Orgxnhitlonil M*na8ement
The Directors m¢el at least four times a year to deiemiine generat rM)licy and lo receive recommendations from
the five Committees. Academic arwj Pasiorai. Safeguardin& Finance. Health & Safely. Governance, and
Development. Ch￿ged wilh the detailed implementation of those policies. The day-1041ay running of Ihe
School is delegated to the Hea& th¢ Bursar and the Higher Management Team. Governor Committee
responsibilities are &$ follows-
Mrs C Facon
Ms E Picken
MrSMPole
Mr J Tucker
Mrs A Elysee
Mr J Barnes
Mrs M Aylett
Mr R Lane
Mr A John50n
Miss E Trdpnell
Healih & Safety. Finance
Safeguarding
Development
Finance. Governance
Finance
Academic aTrJ Pasioral. Governance
Governance
Board
Board
Admissions and Marketing

THE STUDY (￿MBLED0￿) LIMfrED
Page17
DIREcfoRS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2021
RecThitmellt & Training of Govtrnon
The recruitment and induciion of neth. Govertv)rs is overseen by the Chairnwi in co￿$u1￿tIon with the
Governance cotnmittee, the Boar￿ the Headmistress and the Bursar.
The Goiemors bring a wide variety of professional. commercial And charity experience. Thcir collective
profession￿ skills en¢ompass educatioo accountancy, bankin& law, corpordte governance, risk managemenl
and Structural engineering. The Board is a member of the AssiKiation of Governing Bodie5 of Independenl
Schools. and Governors attend seminars and forums hosied by them. and other appropria* training. Seven of
the GovemoTS including the chaIrn￿ are forni¢r pamits.
Prof￿910￿#1 Associ#ti
The Study Preparatory School is an active member of the Independent Association of Preparatory SCh￿Is for
the promotion and maintenance of preparatory 5ch(M)I standards generally and also takes part in peer group
studies for the evaiuation of quality and perfomiance improvement rneth￿s. The School is also a member of
the Independent Schoo15 Association and the Independent Sch(M)l Bursars Associaiion.
AIMS, OBJECrI￿S & AcHIE￿￿ME￿Ts
Aims and Objeetiyes
The Schix)l aims to provide the highest Stsndards of pre-prepardtory and preparntory schi)ol education and
prepares pupils for entrance examinations to Senior sch￿]5. A wide range of academic and non-a¢ademi¢
activiiies are provided and the School strives to develop pupils and abilitie5 to the m&ximum po￿nti￿.
A wide range of abilities are Caiered for from children needing 5￿cIal educational support to very gified and
able pupils. The ieacher responsible for very able pupils is charged with the tssk of idenlifving and supporting
particularlv gift¢d children and ensuring that challenging e￿ensiOn work Is provided io them. The School has
a speciat needs department suptM)ning children with a variety of needs including dyslexia and the School
works in partnership with parents io provide supporL
The School has systems and processes in place io help the full development of each child tn a saf¢ and secure
environment.
The S¢hty)I works to encourage good CItize￿$hip. It also seeks to develop a carin& tolerant and supponive
community where girls learn to app￿late and respect differences in society. whether attributoble to disability,
culiure or economic wellking. The School pronwtes charitable givin&
The School strives to maintsin a positive relaiionship with the l(Ka] community, sharing resources and working
iogeiher lo deal with l¢xal issues. The Schwl is pleased to participate in l(Kal cultural events and to share in
festivals and fundraising events.
Pt.'BLlC BEN'EFIT
Under Section 17 of the Charilies Act 2011 the Governors must have regard to the guidan¢¢ issued by the
Charity Commission on public benefit. When setting objectives and planning the Governors tske account of
that guidance and the supplementar). guidance of the Commission on ihe advancemeni of education and on fee
¢harging.'fhey are also mindful of their responsibÉlity TnLxees io ensure prudent financial management.

THE STUDY IWIMBLEDON) LIMITED
DIRECTORS, REPORT
Page18
FOR THE YEAR ENDED 31 AUGUST 2020
The Governor5 are committed to widening ac¢ess to the fee-based educ￿lOn offered by the School. They seek
to promote public benefii through the provision of means iested bursaries to gir15 who would othenvise be
unable to access the educatio￿ opportunilies provided bv the School and thxough sharing resources, in¢luding
the expertise of S￿laTISt staff. with local schfy)Is. The availability of means-tesled bursaries is promoted
through the school websiie and exiemai &Jvertisin&
The Headmistress is active in seeking appropriate senior school places for girls requiring fee assistance io
ensure ihat thev are able to ¢ontinue theireducation, if they so WIS￿ w&thin the independent school sector when
they leave the School at the end of year stx.
The Study supported len pupils in the year to 31 August 2021 through means-tested bursaries. The cost of
£56.231 was funded from income12020.. £47,735). In addition. a number of emergency bursaries iotslling £nil
{2020: £11,340} were aw'arded to parents who were adversel). affected by the coronavirus pandemic. The
School proTnotes charitable giving and the girls work hard io support two charities. one local and one national
or intemaiional, selected each ierni by the girls and the staff.
ITri'ESTfvIENT POLICY
There are no restrictions on the School'5 poHer5 ofinvestment. The School has no investsnents and any surplus
funds are pl&¢ed in short term deposits and inierest-bearing bank accounts.
ALDITORS
In accordance with Section 485 Oft￿ Comp￿leS Aa 2(K)6 a resolution proposingthe reap￿intment ofArnold
Hill & Co LLP &s auditors will be put to the Company at the Annual General Meetin
So far as the Dtrectors a￿ awa￿. there is no relevant audit inforniation of Mthich the Company's auditors axe
unaware. We have each taken all rhe Sieps that ive ought to have thken as the Company's Directors tn order to
make ourselves aware of any relevani audit inforn)ation and to establish that the Company's auditors xTr aware
of that infonnation.
Approved by the Board of Direaors at lis meeting on 30 November 2021 and signed on its behalf by..
ucker
Chaimian

THE STUDY (WIMBLEDON) LIMITED
Page 19
DIRKcfoRS' RESPONSIBILrriES STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2021
The purFrf)se of this statement is to distinguish the Directors, roponsibilities for the accounts from those of th¢
auditors &s stsied in their re￿rt.
Company law tequires the Dtrrftors to prepare accounts f￿each financial year which give a and fair view
of th¢ stat¢ of affairs of ihe Company and of its net income or ¢xpendiiuTe for the year.
In preparing the accounts th¢ Dir¢¢tors are required to..
select the most suitable accounting wtrlicies and then apply them consistently:
observ¢ the methods and winciples in the Charities SORP:
make judgements and estimal¢s are reasonable and wudent"
stale whether applicable UK Accouniing Stsndard5 have been follow&1 subject to any m￿er]
departures disclosed and explained in ihe financial sthtements. and
prepare ihe aCc￿nts on the going concern basis Unl￿ li is inappropriate Io &5sume that th¢ Company
will continue in b￿sIness.
The Directors are resrM)Thsibl¢ for keeping proper a¢￿U￿ting records which disclose. with reasonable accuracy,
the financia] w>siiion of the Company at anv time, and to enable them to ensure the accounts comply with
the Companies A¢1 2006. They are also responsible for safeguarding the Company's assets and those of its
trust funds and ensuring their pro￿ applicwion in accordance with cEwity law, and hence for lakin8
r¢a8onable slews for the prevention detection of error. fraud or oth¢r irregularities.

THE STUDY {WIMBLEDON) LIMITED
Page 110
INDEPENDENT AUDITOILS, REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 AUGUST 2021
OpiNIo
We have audited the fin&￿181 statements of The Study (Wimbledon) Limited for the year ended 31 August
2021 set out on pages 14 to 27. The financial rerM)ning framework that h&s been applied in their preparaiion is
the appli¢able law and Uni¢ed Kingdom Ac¢ouniing Swidards. Inc1￿j1n8 Financia] ReFx)rting Standard 102.
the Financial ReF￿Ing Standard applithle in ihe UK and Republic of Ireland IUnit¢d Kingdom Generally
Ac¢epied Accounting Pracii¢e).
In our opinion th¢ fIna￿lA1 stst¢menls:
give a irue and fair view of the slate of the chariiable Company's affairs as ai 31 August 2021 and of
its incoming resources a￿1 applicaiion of resources. including income and expenditure for the year
therk ended:
have been properly prepared in accordance wilh Uniied Kingdom Get)ernlly Accepted Accounting
Pracii¢e- and
have been prepared in aCcOrda￿e with the requirements of the Companies Act 2(X)6
BA415 FnH Opiyioy
We conducted our audii in accordance wilh ihe lniem￿l0￿aI Siandards on Audiiin8 IUKI {ISAs (UK)) and
8ppli¢able law. Our resp)nsibiliiies under ihose standards are further described in ihe Audiior's responsibilities
for the audit of the ￿¢ounlS seciion of our re￿rn. We are independent of The Siudy in accordance with the
¢ihical requirements thai are relevant io our audii of ihe 8c¢ounts in the UK, including the FRC'S Ethical
Siandard. and we have fulfilled our oiher ethical resw)nsibilitie5 in ￿0rd&￿e with these requirements. We
believe that the audit evidence we have obtained is sufficieni and appropriate to provide a basis for our opinion.
Coyc'i.Ii%io%s RTr-I.ATl￿r. To GOING CoNrF.R
We have nothing to ieport in respect of the following matters in relation to which ihe ISAS IUK) require us
rewrt io you where..
the Directors LLqe of the 8Otng concern besis of accounting in the preparation of the accounts is not
appropriate; or
th¢ tlirectors have noi disclosed in ihe accounis any ideniified Materi￿ uncertainlies Ihal may cast
significani doubt atr￿ul The Study's abiliiy ¢0 coniinue io adopi Ihe going concern basis of accounting
for a period of 81 le&41 twelve month5 from the date when the 8c¢ounts are 8uth0ri5ed for issue.
The rapid and fluid developm¢nl of the COVID-19 virus aTrJ its impacl on the global economy and businesses
around the world {a5 explained in note l io the financia15tstementsl. indicate the existence of uncertainty
which may cast doubt abo￿ the Cornpanv's ability to continue &s a going concern. The financial 5taiements
do not incllbde the adjustments that would result if the Company w&$ unable to continue &$ a going concern.
ExTF.Yr To Wiiicii THE AI'DIT WAS CONSIDERED CAPABLE OF DETECTING IRREGI'I.ARITIF.S.
The objectives of our audiL in resp￿ io frn￿l. 8re.' to identify ar￿ assess the risks of material misstatement of
the financial st&ements due io fra￿￿. io ob￿￿n sufficieni apprOpri￿e audit evidence regarding the ￿SeSSed
risks of maierial misstalement due to fraud. through designing and implemenling appropriate resEx>tLses; and
to reswnd approprialely ¢0 frnud or suspeded fraud idenlified during the audit. However. the primary
responsibility for the prevention and deieciion of fraud resis wilh bthh ihose charged with governance of the
entity and its management.

THE STUDY (WIMBLEDON) LIMITED
Page111
INDEPENDEwf AUDITORS, REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 AUGUST 2021
Our approach was as follows:
We ideniified ar￿ of laws and regulations that could reasonably be expected to have a material effect
on ihe financia] statements from our general commercial and stttor experience, and through discussion
with the dire¢iors and other mawement (a5 required by audiling standards). and dis¢ussed with the
direciors and other management the N)licits and procedures reg8rdin8 compliance with lam's and
regulations.
We wnsidered the legal and ￿gUlatOry frameworks directly applicable io the finan¢ial statemenis
rewning framework (FRS 102 and the Companies A¢1 2(KJ6) and the relevant w compliance
regulations;
We considered Ihe nawre of the industy, thecontrol envir(mment and bus1ft￿ perfornlance, including
the k¢y drivers for management's remuneration:
We communicated identified laws and regulations throughout our team and remained alert to any
indications of rKin4omplianc¢ throughout the a￿$11.
We considered the procedures and controls that the company has established to address risks identified,
or lh￿ otherwise preveni, deter and ddect fraud: and how s¢nior mana8emeni monitors thos¢
procedLwes and controls.
Based on ihis understanding we designed our Audii prtxedures to identify non-compliance with such laws and
regulation5. Where the risk was considered to be higher. we F*rfornied audit prLKedur¢5 10 address each
identified fraud risk. Tlrse procedures included: iesling manual journals. reviewin8 the financial stai¢m¢ni
dis¢losures and tesling to supponin8 documeniaiion- perforniing analy11c￿ pr(*edures' and enquiring of
management. and were deSi￿ed to provide reasonable ￿urance thal the financial 5Ltrments w¢r¢ free from
frnud or error.
Owin8 lo the ir¢herent limilations of aft audit. there 1$ an unavoidable risk that we may noi have detected some
m&ieri81 misstatements in the financial stsiements, even though we have properly planned and perfornied our
audit in accordance with auditing siandard5. For example. the further removed non4ompliance with laws and
regulations (irregularities) is from the ei'ents and transactio￿$ refl¢¢*d in the financial 51atements. the less
likely the inherently limiied pr(Kedures required by auditirkgsw)dards would identify it. The risk is ￿$0 greater
regarding irregularities occurring due to fraud rather than error. as fra￿1 involves inlentlor￿ concealment.
forgery. collusion, omission or misrepresenwion. We are not reswnsibl¢ for preventing non-compliance and
cannot be expected to detect non*omplian¢e wilh laws and regulatio￿8.
OTHER INFORK4Tior41
The other inforniation comprises of Èhe inforniaiion ]￿luded in the annuai report. oiher ihan ihe accounts and
our auditor's report thereon. The Direciors are re$r￿￿tsible for the otkr inforn]ation. Our opinion on the
ac¢ounis does not cover the other inforn)aiion and. except to the exlent otherwise expltciily staled in our rety)rt,
we do not express any fomi of assurarKe conclusion thereo

THE STUDY (WIMBLEDON) LIMITED
Page 112
INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 AUGUST 2021
In conneclion with our audit of the a¢counts. our responsibility is to read ihe other inforniation and. in doing
so, Consider whether ihe other inforn)ation is maieriaily in¢onsislent with the accounts or our knowledg¢
obiained in the audit or otherwlse appears to be maieria]l)' misswed. If we ideniify such material
inconsistencies or apparent materia] mi5slatement5, we are required io determine whether there is a maleria]
misstatem¢ni in the ac¢ourkts or a material mi$5tstemeni of the other inforniaiion. If, b&sed on the work we
have perforwned. we conclude ihat there is a material mTsstsiemeni of this other infoTmation. we are trquired
io rewrt that F￿t. We have nothing to re￿rt in this regard.
OpvNlO)s ON OTHER MATTERS PRESc￿MED B). THE CoMp.INIE5 ACT 2006
In our opinion. based on the work under￿ke￿ in the ¢cwse of the audil:
the infonnation given in ihe Directors. ReFrf)n for the financial year for which the filwicial
staiements are prepared is consisient with the financiat ￿atements. and
the Direuors. Report h&$ been prepared in accord3n¢e with applicable legal requirem¢nts.
MAfrERS O,y W￿cH WE ARE REQi"IRED To REPORT BI" L¥cEPTION
In the light of ihe knowledge and understsnding of the Director5 and their environment obtained in the course
of ihe audiL we hai'e not identified maieria] missthiements in the Directors. report.
We have nothing to report in the respeci of the following mattels in relation to which the Companies Act 2006
requires us to rep)rt lo you if. in our opinion=
equate &ccounting records have not been kew, or rebjrns adequate for our audit have i*en received
from branches Th)1 visited by u5. or
the firtancial statements are not in agreement with the accounting re￿rdS and returns: or
certain disclosures of directors, remuneration specified by law are tiol made; or
we have noi received ail the inforn)ation and explan&ions we require for our audtL
RESPONSI8ILtriES OF DIRECTORS
As eXpl￿ned more fully in ihe Stsiement of Dir¢clors' Responsibiliti¢& ihe Directors are responsible for the
preparation of the accounts and for being satisfied ihai they giv¢ a true and faiT view. and for such internal
control as the Directors determin¢ is necessary io enable the preparation of acwunts that are free fmm material
misstatemenL whether due to frdud or error.
In preparing the ac¢ount& the Directors Are reS￿￿51ble forasse5sing The Study's ability to continue as a going
concern, disclosin& as applicable, matteTS related io going con¢ern and using the going concern basis of
accounting unless the DÉrectors either intend io liquidate the Company or to cease operations, or have no
reaiisiic alternaiive but to do so.
AUDITOR'S RESPONSIBILITIES FOR THE AI'DIT OF THE FINL*aAL STATEMENTS
Our objectives are to obtain re&wnable assurane¢ aboLrt whether the accounts as a whole are free from material
mis51aiement. whether due to fraud or error. and to issue an auditor's repon that includes our opinion.
Reasonable &55urance is a high level of assurance. is noi a guarantee that an audit conducted in accordance
with ISA5 (UK) will always deieci a material missiatement H'hen it exists. Misstatements can arise from fraud
or error and are considered materiat if, individually or in ihe aggregate, Ihev could reasonably be expe¢ied to
influence the economic decisions of users takerk on the b&sis of ihe5e accounts.

THE STUDY (WIMBLEDON) LIMITED
Page 113
INDEPENDKNT AUDITORS, REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 AUGUST 2021
A further description of our responsibilities for the a￿lt of th¢ a￿￿nts is I￿ated on the Financial ReFL)rting
Council's website at.. http.'IlwiThi.frc.org.ukJauditorsrespx)nsibiliiies. This description fornis part of our
auditor's report.
USE OF OI'R RkpoRT
This report is made solely lo th¢ Charity's Directors. &$ a b￿ly, in accordance wilh section 144 of the Charities
Aci 2011 and regulaiions made under seciion 154 of that Acl. Our aLMlil work ha5 been undertaken so that w¢
mighi state to the Charity's Llrectors those matters we are required to 5tste to them in an audiiors. report and
for no other purpose. To the fvllest extent pennitted by law. we do noi ¥¢epl or &ssume responsibility 10
anyone other than th¢ Choriry and its Direclor5 ￿ a bThJy. for our audit worL for this repK)rL or for the opinions
we have forn)ed.
Steph8ni¢ Cl¢gg (Senior Statutory Auditor)
For 4thd on behalf of
ARNOLD HILL & CO LLP
Chartered A¢coun¢anis & Siaiutory Auditors
Craven House
16 Northumberland Avenue
London
WC2N SAP
Dal¢'. 0410112022

THE STUDY (WIMBLEDON) LIMITED
Page 114
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2021
Restri
eneral aLed Totsl
unds
unds
R tTlCte
Fullds
Fun
Not
IliLoMING RESOiIRCES:
Incoming Resources
From Generated Fllnds
Int¢rest
DonatioTrs & Other
Income
Government Grants
4.481
211,620
4,483
211.620
18,654
216,583
23
18,677
216,583
13.140
229,241
13,140
229,243
52.853
288.090
52.853
288,113
23
Ineoming ResouTees
From Charitable
Activities
Fee Income
4.540.362
4,540 362
4311,909
4,311909
To'i'AL 1￿C.O￿lING
RESOI"RCES
4,769,603
4,769.605
4,599,999
23 4.600.022
RESOI'RCFS Us"LD:
CbAritsble Activitie5
Teaching
Property
Administration
3,069,446
3.069,446
417,461
941,239
2,926,223
2,926,223
186,186
885,468
417,461
935,730
186.186
5,509
876,533
8,935
RESOI,"RC.ES USED IN
YEAR
4,422.637
5,509
4,428,146
3,988.942
8,935 3.997.877
PE%iSJO) PROVISION
20.061
20,061
213,799
213,799
388,346
NFT MovbMENr IN
FIINDS
367,027
(5,507)
361,520
397,258
(8.912}
Transfer Between Reseryes
NFT moi'E.%1F￿Tl.WF111'Ds
F()R THL YE,tR
367,027
(5.507)
361,520
397,258
(8,912)
388,346
Balances Brought Forward
I September 2020
Balances Carried Forward
31 August 2021
£8,801,330
£5,507 £8,806.837
£8,404.072
£14,419 £8,418,491
£9.168.357
£9.168.357
£8,801.330
£5.507 £8,806,837
All the Company'5 activities are classed &s conlinuing.
The Company had no recognised gains or losses other than the surplus for the year.
The notes on page$ 18 to 27 fonn part of these financial statements.

THE STUDY (WIMBLEDOIY) LIMITED
Page115
STA TEMEiYf OF FINANCIAL ACTtVlTIES
FOR THE YEAR ENDED 31 AUGUST 2021
Gross Income from Ordinary Activities
Interest R¢¢eivable
4,540.362
4.311.909
4.483
18.677
Ik)nations and (hher In¢om¢
211,620
13.140
216.583
Governmeni Grants
52,853
Total Income
4,769,605
4,600.022
Total Expenditure
4.408 085
4211676
Net Income for ihe Year
£361,520
£388,346
Total income Comprises £4,769.603 for unrestricied funds and £2 for restricted funds. A delailed analysis of
income by sourc¢ is provided in ihe Statement of Financial Activities.
The Summary Income and Expenditure A¢count is derived from the Ststem¢nt of Financial Activities on pa8e
14.
All of th¢ Company's a¢tlVities are cla55ed ￿ continuin8.
Th¢ nol¢s on pages 18 10 27 forni part of these financial stmiements.

THE STUDY {WIMBLEDON) LIMrrED
BALANCE SHEET
Page 116
AS AT31 AUGUST 2021
2021
021
2020
202
Notes
FIXED ASSETS
Tangibl¢ Assets
Intangible Assets
9.313,280
17,050
9,330.330
7,487,014
7,487,014
CI'RREN7 ASSETS
Debtors
Cash.. . ￿ Bank and in Hand
- J B Reed Deposii
76.916
3.31K>,513
49.425
3,1X)1.298
5,507
3,377.429
3.056.230
CIRRE￿T LJABILTTIES:
CRLDITORS: Amounts Falling t
Within One Year
(838,478)
(888,902}
NFT CI"RRE)T ASSETS
ToT.4L AssE"TS LESS CI'RRENT
LI.4BILJTIES
CREDITORS.. Amounts Falling t)ue
Aft¢r Mor¢ Than One Year
2,538.951
2,167,328
9.654.342
11.869.281
(2.507,186)
(633,706)
PROi'1510YS FOR LIABiLfTIES
13
(193.738)
{213.7W)
NET ASSETS
£9.168.357
£8,806.837
FIN.1*4CkD BI.:
Gener￿ Fund
J B Reed Bursary Fund
9,168.357
8.801,330
5.507
10
£9.168,357
£8,806,837
These financial statements were approved by the DI￿tOrS on 30 November 2021 and are signed on their
behalf by..
TUCKER
Mrs C FACON
Directors
ConTrpany Registered No: 1229741
The noles on pages 18 10 27 fomj part of these financial Swements.

THE STUDY (￿mBLEDoN) LIMITED
Page117
CASHFLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2021
NF,I' CASH FLOW FROM OPERATJNG
AcYiviTIF.S
15
2,329.804
710.969
CAPITAL ExpENDITI,'RE
PA Y%ffr.N'rs To AC.'QIIIRF TANGIBLE FIXED
ASSFTS
(2.040.579)
{3,986,425)
Rk'i'iiRNS ON INI'EsTMENrs AND SERVICING
4.483
18,677
16
INCREASEI(DEcRkASk) IN CASH
17
£293.708
£3,256.779
The notes on pa8es 18 to 27 fomi part of these financial statements.

THE STUDY (WIMBLEDON) LIMITED
Page 118
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
ACCOi"NYING POLICIES
*) Accounting CottveDtiOD
The financial s￿eMents are prepared under the historic￿ cost convention and in ac¢ordance with
AccouEtling and Reponing b>. Chariiies= Siaiement of Recommended Practice applicable to Charities
preparing their accounts in accordance with ihe Finan¢ial Reporting Standards applicable in ihe UK
and Republic of Ireland IFRS 102) (effective l JanuaTr 2015) - Charities SORP IFRS1021, Ihe
Financial Reporting Standards applicable in the United Kingdom and Republic of Ireland (FRS 102)
and the Companies Act 2W6.
The finattciat siaietnenis are prepared in sierlin& which is the functional CLwren¢y of the Company.
Monetary amounts in these financial statements are rounded to th¢ nearest £
b) Going Con¢ern
At the time of approving the finan¢Tal Statemen￿ the Directors have a re&sonable expectstion that
the Company has adequate resources to ¢ontinu&ng in oF*Mi0T￿ exisience for the foreseeable fuiure.
The Directors continue io monitor the impact of COVID-19 and p)tential implications on f￿￿re
operations. The Directors have undertaken a number of scenario projeciion5 to understand the
EX)teniial impact on ihe business and remain ￿l$fied that the Company is able to meei its liabilitie5
as they fall due over the ￿xI 12 months. ThtLS the Dire¢tor5 continue to &lopt the going concern
basis of accounting in preparing the financiat stsiements.
e) Turnover
Turnover is made up of fees charged during the perifyl. SchrKJl fees relattng to future p¢riod5
are carried forward as fee5 in advarKe.
d) Cajh and Casb Equiv*lellts
Cash and c&sh equivalents are b&si¢ financia] &ssets and include c&8h in hand and deposits held at
call with banks.
e) Fixed Assets
Fixed ￿ets are included at cost less accumulated depreciation, excepl for land which is included at
¢ost. Fixed &8S¢ts are reviewed for impaim)ent each year.
D Depreciation
Depreci*ion is ¢alculaied so &$ to write off the cost le55 estiM￿cd residual value of all tsngible fixed
assets. other than freehold land. by equat instalments over their eslimated useful lives as follows:
Leasehold Land & Buildings
Freehold Buildings
over l O ye￿5 on cost
Moior Vehicles
over 50 years on cost
Fixture. Fillings & Equipment
over 4 years on cost
Computer Equipment
over 4 years on ¢05t
Website Coms
over 3 years on cost
over 5 years on cost
Depreciaiion of an &sset begins when it is available for ￿. Depreciation xn respect of development
projects commences once the development works are complete.

THE STUDY (￿mBLEDoN) LIMITED
Page | 19
NOTES TO THE FINANCIAL STA TEMEiwrs
FOR THE YEAR ENDED 31 AUCUST 2021
g) Book8, Stationery *Dd Tea¢hlng Equipment
Expenditure on b(M)ks, stationery and t¢a¢hing equipment is written off in 1he In¢ome and
Expenditur¢ account as incurred.
b) Fixtures and Fittings and Computer Equlptnent
Major In￿allationS of fixlur¢s and fittings are included within fixed &55ets. Other fixtures and fittings
and administrative computer equipmeni is written off in the Income and Expenditure account as
incurred.
i) Finallcial InstrumeDtJ
The Company h&$ elected io apply ihe provisions of S¢ction I I 'Basi¢ Financial Instruments, and
Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of ils finan¢ial instruments.
Financia] instruments are recognised in the Company's statement of financial p)sition when the
Company becomes party to th¢ contractual provisions of the instrument.
Basi¢ Fln¥n¢i*l Assets
Basic financial assets, which include trade and other receivables and cash and bank balances, ar¢
initially measured at transa¢iion price including transaction costs and are subsequenily Carried at
8mortis¢d ¢osi using the effective interest method, les5 any impairn)ent. Interest is re¢ognised ￿Ing
th¢ eff¢¢liv¢ interest rate, exce￿ for short-term receiv&ble5 when the recognition of inier¢st would
b¢ immaterial.
Basic FiBancial Liabilities
Basic financial liabilities, including trade and other pavables are initially recognised at transaction
price unless the arrangement constitutes a financing tfiqnsaction. where the debt insirument is
measured at the present value of th¢ future payments discounted at a market rate of inierest. Debi
instruments are subsequently carried at amortised cost, using the effective interesi rnle meihod.
except for short-terni payables when the recognition of interest would be immaierial.
j) Taxxtio
The Company has been registered as a Charity under Section 3 of the Charities Act 1993.
Accordingly, exemption from taxation under Seclion 505 of the Income and Corporation T&xes Act
1988 h&$ been granted. and therefore no provision for tsxation has been made in these accounts.
k) PensioD ContributlODS
Pension contributions are included in siaff costs under expenditure, and included in both leaching
and administration resources as appropriate. The Company participates in the Teachers. Pension
S¢h¢m¢ {TPS) and the Independent Schools. Pension S¢h¢m¢ {ISPSI. both multi-eTTtployer defined
benefit schernes, and a]so in The Pension5 Trust defined contribution Scheme.
l) Types of R¢sour¢¢s Exptnd¢d
liem5 of expendilure are included in teAchin& property and administration resources used. The items
are kept consistent year on year as to which type they are included in.

THE STUDY (WIMBLEDON) LIMITED
Page 120
NOTES TO THE FINANCIAL ST ATEMENTS
FOR THE YEAR ENDED 31 AUCUST 2021
m) Restricted Funds
Restricted funds represent income received by the school for restricted purpos¢s specified by the
donor.
n) Government Grants
Governmeni grants are recognis¢d at the fair valu¢ of the asset receiv￿ or rettivable when there is
reasonable assurance thai the grant Conditions will be met and the ￿antS will be r¢¢eived.
Gov¢mment ￿onI5 relating io turnover are recognised as income over the periods when the related
costs are incurred.
o) Leases
Leases are cl&ssified as finance leases when¢v¢r the lernis of th¢ leas¢ transfer subslantia]ly a]1 the
risks and rewards of ownership lo the lessees. All oiher leases are classified as operaiing leases.
Assets held under finance leases are recognised as asset5 at the lower of the &55ets fair value at the
date of inception and the present value of the minimum le&se payments. The related liability is
in¢luded in the Balance Sheet as a finance lease obligation. Lease payments are treated as consi5titig
of Capita] and interest elements. The interest is charged to profit or loss so as to produce a constant
periodic rate of interest on the remaining balan¢¢ of lh¢ liabilitv.
2. C1￿￿TABLE AcTJiryTIES
Administratio
2021
Siaff Costs
2.608.008
575,356
3,183,364
171,485
25,778
Depreciation
Loss on DispN)5ai of
Fixed Asset
171,485
25,778
Office Cost5
220.198
49,562
38,468
269,760
165,671
92,224
191,506
School Equipment
School Activities
127,203
92.224
191.506
50,505
3,069.446
School Lunches
Other Costs
258.678
309.183
417,461
922.064
4,408,971
Share of
Governance Costs
19,175
19.175
£3,069.446
£417.461
£941.239
£4.428.146
ADglysi$ by fuDd
Unrestricted funds
3.069.446
417,461
935,730
5,509
£941,239
4,422,637
5.509
£4,428.146
Restricted funds
£3.069,446
£417,461

THE STUDY (WIMBLEDON) LIMITED
Page121
NOTES TO THE FINANCIAL sTATEME￿rs
FOR THE YEAR ENDED 31 AUGUST 2021
Staff Costs
2,562.426
5W,319
3.062.745
Depreciation
Office Costs
64,463
64.463
121.723
128.202
36.042
249.925
123.645
Sch(M)l Equipment
Sch(M)l Activilies
87.603
63,528
63.528
School Lunches
174.226
38.440
174.226
212,862
3.951,394
Other Costs
174.422
2.926.223
186.186
838.985
Share of
Govemance Costs
46.483
46.483
£2.926,223
£186,186
£885.468
£3.997,877
Analyjls by hnd
Unrestricted funds
2,926,223
186.186
876.533
3.988.942
Restricted funds
8.935
.935
£2.926.223
£186.186
£885.468
£3.997.877
3. EMPI,OI'LES
The averag¢ number of employees (excluding Directots) who served during lh¢ year was as follows..
Texhing Staff
Admini5tralive
39
25
49
12
61

THE STUDY {WIMBLEDON) LIMITED
Page122
NOTES TO THE FINANCIAL STA TEmE1￿s
FOR THE YEAR ENDED 31 AUGUST 2021
The number of employees who were ￿]d more £60.IMKI dvring the year was &$ follows:
202
£60.001 to £70.(KM)
£70.001 to £80.0
£80.001 to £W.O(K)
£90.001 io £I￿.(￿XI
£100.￿1 to£l10.(KKI
The t￿81 r￿nsiOn wst relating to employe¢s paid over £60.￿)0 during the year w&$ £71,046 {2020: £71,986).
4. RTr.MilNF.RATION OF KEI. MA%AGEMEIT PERSO%*EI.
The remuneration of key managemeni personnel is as follows:
ABgre8ate compensaiion
£390.864
£387.057
None of the Direciors r￿e1Ved any remunemion or were reimbursed for expenses during ihe year {2020.'
£nil)-

THE STUDY (WIMBLEDON) LIMITED
Page 123
NOTES TO THE FINANCIAL STATEMEI¥TS
FOR THE YEAR ENDED 31 AUGUST 2021
FIXFD AsswTS
LxDd
ildin
Cosl
At I September 2020
101.133
8,433,959
87,282
96.668
,719,042
Additions
17.050
45.451
.882.077
96,¢XJI
96.668
2,040,579
Disposals
AI 31 Au8USt 2021
96,668
17,050
146.584
10316,036
87.282
96,001
10,662.953
Depreelatlon
Ai I Seplemkr 2020
75.727
i.(K)1.350
87,282
67,669
1.232,028
Charge for Year
Disposals
At 31 August 2021
13.323
148.540
9.622
171.485
70,890
70.890
1.149.890
87,282
1332,623
Net Book V*lue
At 31 August 2021
At 31 August 2020
£57.534
£9.166.146
£89,&)0
£9.330.330
£7 432 609
£28.999
£7 487.014
The CO￿ of buildings included in fTe¢hold land and buildings is £1.574,087 (2020: £1,574.087).
Included within Fixiures. Fittings & Equipmeni are a￿15 held under hire purchase agr¢ements with a
net b(K)k value of £16.937 (2020: £25.406). Depreciation Ch￿e5 of £8,469 {2020.. £nil) wer¢ in¢urred
in th¢ y¢ar on ikse assds.

THE STUDY (WIMBLEDON) LIMITED
Page 124
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUCUST 2021
6. DEBTORS
202
2020
Trdde De￿Or$
Prepaymenls
Other Debtors
2,335
45.759
1.331
65,453
11,463
£76,916
£49,425
7. J B REED BIIRSARI. FI,'ND
This fund has been held as a separate desI￿)a¢ed bank account under the control of ihe School. All
movemenis in and out of this account are approved by the Board of Trustees. The fund was made available
to assist girls to ¢ontinue their education. The fund w'as fully and finallv expended in the 2020121 financial
year.
8. CREDITORS: AMOliNTS FAI,LING DI;'F. WI.rHI￿ ONE YEAR
2021
202
Fees in Advance
Pupil tkposits
Trade Creditor5
(hher Creditors
Accrua15 and Deferred Income
Social S¢curity and Other Pension Costs
Finan¢e Lease
Bank Loan
199.461
114.495
94,619
201,041
94.330
83,118
85,626
312,260
107.109
5.418
139,275
108,201
5.418
177.009
£838.478
£888.902
9. CREDITORS: AMOL'Nts FALLING DI'E AFfER MORE THAN ONE YEAR
2021
020
Pupil Deposits
Finance Lease
Bank Loan
674,713
9.482
1,822.,991
618,805
14,901
£2.507.186
£633.706
Parents are required to pay an entry de￿$]1 of 500/0 of a term's fee on joining the School. Entry deposits
are returned after the pupils have ¢omplei¢d their final tem at the School.
As at 31 August 2021. the bank loan is secured by way of a fixed charge ov¢r the freehold property owned
by the sch￿1.

THE STUDY IWIMBLEDON) LIMITED
Page 125
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
10. REcoNciLIATION OF MOI'EMENTS IN RESER￿'Es
20
Surplus of Income over Exp¢nditur¢ for the Financial Year
Interest Received in J B Reed Burs￿ Fund
Ouiflow from Bursori¢s Fund
367.027
397.258
23
8.935
Net Incre&8e in Reserves
361,520
388.346
Reserves at I September 2020
R¢s¢rv¢s at 31 August 2021
8,806.837
8,418.491
£9.168,357
£8.800,837
11. SIiAlU; CAPITAL
The Company is limited by guarantee and does not have a share capitsl. The M￿lmuM liabiliiy of each
member in the event of the Company being wound up is £1.
12. CoN'fROL
The Company 15 under Ihe control of the Directors who also act as Governors to the School.
13. Pk'NSlO% CoN'rRIBI:'rioli
Te•¢her'$ Pen$lon Scheme
The School p£￿Ie1P8(¢s in the Teachers. P¢nsion Scheme I'the TPS") for ils leaching staff. The scheme
1$ a defined b¢nefit s¢h¢me in th¢ UK. 11 is not possible for the Company to obtain sutTicient inforniation
to etiable it to account for the s¢heme as a defined benefii scheme. Therefore it account5 for the scheme
as a defined conlribuiion ￿heMe. The scheme is subjeci to the funding legislatiork outlined in the Pensions
A¢1 2004 which came inio force on 30 December 2(X)5. This. together with documents issu¢d by the
Pensions Regulator and Technical Actuarial Standards issued by the Financial Rew>rting Council, set out
the fr8mework for funding defined benefit occupational pension schemes in the UK.
IDdepeDdent Schools, PensioD Scheme
The School also participates in this scheme, a mulii-employer scheme which provides benefits to some
66 non-ass0¢ialed employers. The scheme is a defined benefi15cherne in the UK. It 15 not wssible for the
School to obtain Sufficient infomiation to enable it to account for the scheme as a defined benefit scheme.
Therefore it account5 for the scheme as a defined contribution scheme. The scheme is clgssified as a'last-
man standing arrangement,. Therefore the Company is ￿tentiallY liable for other participating employers,
obligations if those employers are unable to meet their share of th¢ scheme defi¢lt following withdrawal
from the scheme. Panicipaling employers are legally required to meet iheir share of ihe scheme deficit on
an annuity pur¢h&s¢ basis on Wilhdraw￿ from th¢ wh¢m¢.
A full a¢iuariat valuaiion for the s¢h¢me was carried out with an effective dale of 30 September 2017.
This actuarial valuation was certified on 27 December 2018 and showed assets of £149.4m, liabililies of
£187.6m and a deficit of £38.2m. To eliminate this funding shortfall, the trustee5 and the participating
employers have agreed that additional contributions will be paid. in combination from all employer5, to
the scheme. Where the scheme is in deficit and where the company ha5 agreed to a deficit fundin8
arrangement the Company recognises a liability for this obligation. The amount recognised is the net
present value of the defi¢it reduction contributions payable under the a￿eMent that relates to th¢ d¢fi¢il.

THE STUDY (WIMBLEDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
Pa%e 126
FOR THE YEAR ENDED 31 AUGUST 2021
The present value is ca]cul&ed using ihe discount rate and the unwinding of the discount rate is reco￿lIsed
as a finance ¢05t.
Th¢ present value of the provision recognised in the financial statements as at 31 August 2021 is £193,738
with an &ssumed raie of discouni of 0.91P/• Fer annum.
14. CIiAJUTABI.E IX).%.4TIONS Accoi'yr
The Charitable tA)n￿l0[L$ Accouffl 15 administered by ihe School. As ihis a¢¢ount IS sel up to hold
charitable donations received and ihen pass ihese on to sp¢¢ific charities il 15 not included in the Study's
balarKe sh¢¢l.
15. NFT CASH FLOII. FROM OpERATJ%G ACIJIITIES
Nei Movement in Fund5 for the Year
Inierest Received
D¢pre¢iation
Loss on Disposal of Fixed Ass¢1
(ln¢re&Se)/D￿rease in Debtors
1rtCre￿e irk Creditors
Net C&8h Inflow from Operating Aciivilies
361,520
(4,483)
171,485
25.778
127,491)
1,802.995
388,346
(18,677)
64.463
21.014
255.823
£2.329.804
£710.969
16. Rè'TI.'RNS ON INI'EST.¥ENT ASD SERI'ICISG OI FI%A%C£
Interesi Received
Net C&sh Inflow From Returns LXJ Investments and
Servicing of Financ¢
4.483
18,677
£18,677
17. ANAI.ysis OF CHANGES 1% NET
tem
202
Bank and Cash
£3.¢N16.805
£293,708)
£3.3IX).513
18. FJNAP4"CIAL Coii.MfTMEYrs
A5 at 31 Aug￿51 2021, th¢ School w&5 committed to pay a tothl sum of £79.641 (2020.. £1,507.692) in
respe¢t of developmeni ¢ost& which has provided for in the 2020121 accounts. The School was atso
Committed io paying a fffjher £25.574 (2020: £nil) f￿ website developm¢ni costs.

THE STUDY (WIMBLEDON) LIMITED
Page 127
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR KNDED 31 AUGUST 2021
021
2021
2020
L+4COME:
Fees
Interest
Donations & Other Income
Government Grants
4,540.362
4.481
211.620
13.140
4.769.603
4,311,909
18.654
216.583
52.853
4,599.999
LESS: ExpEPiSES
Stsff Costs
Rates
Light and H
Telephone, Sthiiortery and Postsge
IT Services and Equipment
School B(K)ks
Games and Outings
Musica] Instruments
Sundry Expenses
Cleaning
Repairs. Renewals and Maintenance
Bank Inierest and Charges
Loan Inieresl
Insurdnce
School Lunches
tkpreciation of Wilberforce House
Depreciation of Spencer House
Depreciation on Le&sehold Pror¢rty
Depreciation on Fixtures & Fittin&s
Depreciation on Compuier Equipment
Los5 on Disposal of Fixed Ass
Bursaries
3,183,364
35.653
93.660
18.502
100,148
64250
92.224
.274
135J67
39.827
90.885
4,879
53.100
45.329
191.506
117.440
31.100
9.622
2.678
10.645
25.778
56231
3,062,745
30.199
39,338
19.103
72.364
50.529
63.946
752
106,671
109.099
52,186
2,834
46.269
174.?26
23.696
31,100
9,667
47.735
4.403,462
3.942,459
L&ss: Goi'EK%kYCE COSTS
Audit Fee
Legal and Pmf¢ssional Fees
7.200
11.975
7,800
38,683
19,175
46,483
Pension Provision
20,061
(213.799)
Excess of Income over Expenditure for the
Financial Year
367.027
397,258
Net Movement in Genernl Fund for the
Financial Year
367.027
397.258
Balance on the General FUTKI at 8￿inning of
Year
8.801.330
8.404.072
Balance on the General Fund at EtNI of Year
£9,168,357
£8,801,330