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2023-08-31-accounts

Page
Reference and administrative details ofthe company, its Trustees and advisers
Trustees'
report		 2-14
Independent auditor's
report		 on the financial statements 15 - 18
Consolidated statement
offinancial		 activities 19
Consolidated balance sheet 20-21
Company
balance sheet		 22-23
Consolidated statement ofcash flows 24
Notes tothe financial statements 25-48

Trustees N Allan
AJBBarnes
J M Donora
N D Hammond
J E Priory
GJ Piper
M J Ringer (appointed 1 September 2023)
M Sloan
JJThompson
A M Wakefield
Company registered
number 1468693
Charity registered
number 279267
Registered office Barrow Lane
Langton Green
Tunbridge
Wells
Kent
TN3 OEB
Independent auditor Crowe U.K. LLP
Riverside
House
40-46 High Street
Maidstone
Kent
ME14 1JH
Solicitors Thomson
Snell and Passmore
3 Lonsdale Gardens
Tunbridge
Wells
Kent
TN1 1NX

Unrestricted Restricted Total Total
funds funds funds funds
Note 2023
6		 2023f 2023
6		 2022
Income from:
Donations
and legacies		 5,'717 9,518 15,235 35,595
Charitable
activities		 8,213,823 8,213,823 7,555,367
Other trading
activities		 379,411 379,411 387,908
Investments 101,907 101,907 5,673
Total income 8,700,858 9,518 8,710,376 7,964,543
Expenditure
on:
Raising funds 7 318,219 318,219 291,613
Charitable
activities		 8 7,611,589 8,750 7,620,339 7,351,370
Total expenditure 7,929,808 8,750 '7,938,558 7,642,983
Net movement
in funds		 771,050 768 771,818 341,560
Reconciliation
offunds:
Total funds brought forward 13,062,627 2,975 13,065,602 12,724,042
Net income attributable to the parent
company 783,350 783,350 321,071
13,845,977 2,975 13,848,952 13,046,013
Net income attributable to non-
controlling
interests		 22,149 22,149 19,580
Total funds carried forward 13,868,126 2,975 13,871,101 13,065,602

CONSOLIDATED BALANCE SHEET
AS AT 31AUGUST 2023
Note 2023
E		 2022f
Fixed assets
Tangible assets 12 12,262,145 12,13ZOee
12,262,145 12132,088
Current assets
Stocks 14 11,184 8,17¹
Debtors 15 361,57¹ 291,512
Cash at bank and in hand 3,576,103 4,127,281
3,948,861 4,426,967
Creditors: amounts falling due within one
year 16 (1,746,636) (1,875,856)
Net current assets 2,202,225 2,551,111
Total assets less current liabilities 14,464,370 14,583,199
Creditors; amounts falling due after more
than one year 17 (626,950) (1,617,597)
Total net assets 13,837,420 13,065,602
Charity funds
Restricted funds 19 3,743 2,975
Total restricted funds 19 3,743 2,975
Unrestricted
funds
Designated
funds		 19 12,322,137 12,153,401
General funds 19 230,570 (393,893)
Total unrestdcted funds 19 12,552,707 11,759,508
Tots I funds 12,556,450 11,762,483
Non-controlling interests 1,280,970 1,303,119
13,837,420 I3,065,602
COMPANY BALANCE SHEET COMPANY BALANCE SHEET
AS AT 31AUGUST 2023
Note 2023
8		 2022f
Fixed assets
Tangible assets 12 9,654,171 9,478,298
Investments 13 2,573,111 2,573,111
12,227,282 12,051,409
Current assets
Stocks 14 11,184 8,174
Debtors 15 364,146 292,308
Cash at bank and in hand 3,535,947 4,088,668
3,911,277 4,389,150
Creditors: amounts falling due within one
year 16 (1,720,368) (1.852,845)
Net current assets 2,190,909 2,535,305
Total assets less current liabilities 14,418,191 14,587,714
Creditors: amounts falling due after more
than one year 17 (625,000) (1,615,647)
Total net assets 13,793,191 12,972,057
Charity funds
Restricted funds 19 3,743 2,975
Total restdcted funds 19 3,743 2,975
Unrestricted
funds
Designated
funds		 19 12,287,274 'I2,072,722
General funds 19 1,502,174 896,370
Total unrestricted funds 19 13,789,448 I2,969,092
Total funds 13,793,191 12,972,067

2023 2022
6 8
Cash flows from operating activities
Net cash used
in operating		 activities 1,140,929 877,880
Cash flows from investing activities
Dividends, interests and rents from investments 101,907 5,673
Proceeds from the sale of intangible assets 300
Purchase oftangible
fixed assets		 (620,145) (304,452)
Net cash used in investing activities (518,238) (298,479)
Cash flows from financing activities
Repayments
of borrowing		 (1,109,886) (1,136,465)
Interest
paid		 (63,983) (70,701)
Net cash used in financing activities (1,173,869) (1,207,166)
Change
in cash and cash		 equivalents
in		 the year (551,178) (627,765)
Cash and cash equivalents at the beginning ofthe year 4,127,281 4,755,046
Cash and cash equivalents at the end of the year 23 3,576,103 4,'127,281
The notes on pages 25 to 48 form part ofthese financial statements

3. Income from donations and legacies (continued)
Unrestricted Restricted Total
funds funds funds
2022f 2022
5		 2022
5
Donations 35,131 464 35,595
4. Income from charitable activities
Unrestricted Total
funds funds
2023 2023f
Fees 8,016,128 8,016,128
Extras 197,695 197,695
8,213,823 8,213,823
Unrestricted Total
funds funds
2022 2022
Fees 7,356,888 7,356,888
Extras 198,479 198,479
7,555,367 7,555,367
Unrestricted Restricted Total
funds funds funds
2022f 2022
5		 2022
5
35,131 464 35,595

Unrestricted Total
funds funds
2023 2023
6
Summer schools courses and swim school 342,920 342,920
School facilities letting 36,491 36,491
379,411 379,411
Unrestricted Total
funds funds
2022
5		 2022f
Summer schools courses and swim school 370,210 370,2'/0
School facilities letting 17,698 17,698
387,908 387,908
6. Investment income
Unrestricted Total
funds funds
2023 2023
6
Bank interest receivable 101,907 101,907
Vnrestrlcted Total
funds funds
2022
5		 2022f
Bank interest receivable 5,673 5,673

Unrestricted Total
funds funds
2023 2023
Staff costs 191,310 191,310
Other costs 126,909 126,909
318,219 318,219

Unrestricted Total
funds funds
2022 2022
6
Staff cost 195,196 195,196
Other costs 96,417 96,417
291,613 291,613

Unrestricted Restricted
funds funds Total
2023 2023 2023
6
Educational expenses 5,176,011 5,178,011
Establishment expenses 901,241 901,241
Discounts, bursaries and scholarships 358,650 358,650
Administration 1,109,704 8,750 1,118,454
Interest 63,983 63,983
7,611,589 8,750 7,620,339
Unrestricted Restricted
funds funds Total
2022 2022 2022
L'
Educational expenses 4,920,709 4,920,709
Establishment expenses 823,427 823,427
Discounts, bursaries and scholarships 415,436 415,436
Administration 1,108,003 13,094 1,121,097
Interest 70,701 70,701
7,338,276 13,094 7,351,3TO

Staff costs Staff costs Depreciation Other costs Total
2023
f		 2023
f		 2023
f		 2023f
Educational expenses 4,447,531 730,480 5,178,011
Establishment expenses 201,702 699,539 901,241
Discounts,
bursades		 and scholarships 358,650 358,650
Administration 276,044 490,089 352,321 1,118,454
Interest 63,983 63,983
4,925,277 490,089 2,204,973 7,620,339
Staff costs Depreciation Other costs Total
2022
f		 2022
f		 2022f 2022f
Educational expenses 4,303,933 616,776 4,920,709
Establishment expenses 199,684 623,743 823,42T
Discounts,
bursaries		 and scholarships 415,436 415,436
Administration 277,953 472,021 371,122 1,121,096
Interest 70,702 70,702
4, 781,570 472,021 2,097,779 7,351,370
Auditor's
remuneration
2023f 2022
Fees payable to the company's auditor for the audit ofthe company's
annual
accounts		 13,765 12,735
Fees payable to the company's auditor in respect of:
Taxation compliance services 1,050 960
Accounts preparation 1,785 1,165
Teacher pension scheme fee 890

Staff cos ts
Group Gmup Company Company
2023 2022 2023 2022
5 5
Wages and salaries 3,945,136 3,810,898 3,945,136 3,810,898
Social security costs 390,334 382,756 390,334 382,755
Contribution to defined contribution pension
schemes 589,807 587918 589,807 587916
4,825,277 4,781,570 4,925,277 4,781,570
The average number of persons employed by the company during the year was as follows:
Group Group
2023 2022
No. No.
Teachers and matrons 74 72
Cateding and domestic 19 18
Grounds and maintenance 6 7
Administration 13 12
Swim school 7 6
Other 7 6
126 121
Group Group
2023 2022
No. No.

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Investments
In
subsidiary
companies
Company 5
Cost
At 1 September 2022 2,573,111
At 31 August 2023 2,573,111
Net book value
At 31 August 2023 2,573,111
At 31August 2022 2,573,111

Names Company Registered office Principal activity activity Class of Holding
number or principal
place		 shares
ofbusiness
Holmewood House 00331126 Langton Green, Provision of freehold Founder 50'/o
Properties Limited Tunbridge Wells, property snd fixtures shares
(incorporated in England) Kent, TN3 OEB to Holmewood House
School
Bond 55'/o
shares
A Shares 100'/o
Holmewood House 05334651 Langton Green, Dormant Ordinary 100'/0
Services Limited Tunbdidge Wells,
(incorporsted in England) Kent, TN3 OEB

Group Group Company Company
2023 2022 2023 2022
8 8
Finished goods and goods for resale 11,184 8,174 11,184 8,174
Debtors
Group Group Company Company
2023
6		 2022
8		 2023 2022f
Due within one year
Trade debtors 90,221 67,113 90,221 67,ff3
Amounts
owed by group undertakings		 2,573
Other debtors 41,694 19,401 41,694 20,197
Prepayments and accrued income 229,659 204,998 229,658 204,998
361,574 291,512 364,146 292,308
Creditors: Amounts falling due within one year
Group Group Company Company
2023
6		 2022f 2023
6		 2022f
Bankloans 28,409 188,919 28,409 168,919
Trade creditors 141,037 122,870 141,037 122,870
Corporation tax 23,171 19,916
Other taxation and social security 94,593 94,759 94,593 94,759
Other creditors 520,692 740,499 520,692 740,501
Accruals and deferred income 938,734 728,893 935,637 725,798
1,746,636 1,875,856 1,720,368 1,852,845

Group Group Company Company
2023f 2022f 2023 2022f
Bank loans 625,000 1,594,376 625,000 1,594,376
Accruals and deferred income 21,271 21,271
Share capital treated as debt 1,950 1,950
626,950 1,617,597 625,000 1,615,647

Group Group Company Company
2023
8		 2022
f		 2023
f.		 2022
f
Financial assets
Financial assets measured at amoitised cost 3,576,103 4,213,793 3,535,947 4,175,997
Group Group Company Company
2023 2022
f		 2023 2022
Financial liabilities
Financial liabilities measured at amortised
cost (2,255,822) (3,378,779) (2,250,775) (3,373,734)

19. Statement offunds
Statement
offunds		 - current year
Balance at 1 Balance at
September Transfers 31August
2022
6		 Income Expendituref in/out
f		 2023
f
Unrestricted
funds
Designated
funds
Designated
Funds		 12,132,088 (620,145) 750,202 12,262,145
Bursary Fund 21,313 38,679 59,992
12,153,401 (620,145) 788,881 12,322,137
General funds
General Funds (393,893) 8,700,858 (7,309,663) (777,327) 219,975
Minority Interest 1,303,119 (11,554) 1,291,565
909,226 8,700,858 (7,309,663) (788,881) 1,511,540
Total Unrestricted funds 13,062,627 8,700,858 (7,929,808) 13,833,677
Restricted funds
Bursary and Community
Outreach
Fund		 826 9,458 (8,750) 1,534
The Rieckmann
Fund		 2,149 60 2,209
2,975 9,518 (8,750) 3,743
Total offunds 13,065,602 8,710,376 (7,938,558) 13,837,420

Stateme nt
offu		 nds - prior y ear
Ba/ance at Balance at
1September Transfers 31August
2021f Income
6		 Expenditure in/out
5		 2022
f
Unrestricted
funds
Designated
funds
Designated
Funds		 12,401,761 (304,452) 34,780 12,132,089
Bursary Fund 21,312 21,312
12,401,761 (304,452) 56,092 12,153,401
General funds
General Funds (1,016,032) 7,984,079 (7,325,437) (36,503) (393,893)
Minority Interest 1,322,708 (19,589) 1,303,119
306,676 7,984,079 (7,325,437) (56,092) 909,226
Total Unrestricted funds 12,708,437 7,984,079 (7,629,889) 13,062,627
Restricted funds
Bursary and Community
Outreach Fund 13,920 (13,094) 826
The Rieckmann Fund 1,685 464 2,149
'I5,605 464 (13,094) 2,975
Total of funds 12,724,042 7,984,543 (7,642,983) 13,065,602

Balance at 1 Balance at
September Transfers 31 August
2022
6		 Income Expenditure
6		 in/out
f		 2023
f
Designated funds 12,153,401 (620,145) 788,881 12,322,137
General funds 909,226 8,700.858 (7.309,663) (788,881) 1,511,540
Restricted funds 2,975 9,518 (8,750) 3,743
13,065,602 8,710,376 (7,938,558) 13,837,420
Summary offunds -prior year
Ba/ance at Balance at
1 September Transfers 31August
2021f Income
f		 Expenditure
f		 inloul 2022f
Designated funds 12,401,761 (304,452) 58,092 12,153,401
General funds 306,676 7,984,079 (7,325,437) (56,092) 909,226
Restricted funds 15,605 484 (13,094) 2,975
12,724,042 7,984,543 (7,542,983) 13,065,802
Analysis of n et assets between funds - current year
Unrestricted Restricted Total
funds funds funds
2023 2023 2023
6 6
Tangible fixed assets 12,262, 145 12,262,145
Current assets 3,945,117 3,743 3,948,860
Creditors due within one year (1,746,636) (1,746,636)
Creditors due in more than one year (626,950) (626,950)
Total 13,833,676 3,743 13,837,419

Analysis of n et as set s between
f		 unds
-		 prior year
Unrestricted Restricted To/a/
funds funds funds
2022 2022f 2022
Tangible fixed assets 12,13ZO68 12,132,068
Current assets 4,423,992 2,975 4,426,967
Creditors due within one year (1,875,856) (1,875,856)
Creditors due in more than one year (1,617,597) (1,617,597)
Total 13,062,627 2,975 13,065,602
22. Reconciliation of net movement in funds to net cash flow from operating activities
Group Group
2023 2022
8
Net income for the year (as per Statement ofFinancial Activities) 771,818 341,560
Adjustments for:
Depreciation
charges		 490,089 472,021
Interest paid 63,983 70,701
Dividends,
interests		 and rents from investments (101,907) (5,673)
Loss/(profit)
on the		 sale offixed assets (300)
Decrease/(increase) in stocks (3,010) 2,935
Increase in debtors (70,060) (93,370)
Increase/(decrease) in creditors (9,984) 90,469
Net cash provided by operating activities 1,140,929 678,343
23. Analysis ofcash and cash equivalents
Group Group
2023
f		 2022
f
Cash in hand 3,576,103 4,127,281
Page 46

payments und er non-cancellable
operating
leas		 es as follows:
Group Group Company Company
2023
6		 2022f 2023
8		 2022f
Not later than 1 year 12,611 104,280 201,611 293,480
Later than 1 year and not later than 5years 37,834 34,344 604,834 787,344
Later than 5 years 63,057 63,057 820,250
113,502 138,624 869,502 1,901,084