**REGISTERED COMPANY NUMBER: 02035304 (England and Wales) REGISTERED CHARITY NUMBER: 295145** ## **GREENFIELD SCHOOL** ## **FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 AUGUST 2021** HPCA Ltd Chartered Accountants and Statutory Auditors Station House Connaught Road Brookwood Woking Surrey GU24 0ER **GREENFIELD SCHOOL** ## **CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 August 2021** ||**Page**| |---|---| |**Report of the Trustees**|1 to 8| |**Report of the Independent Auditors**|9 to 12| |**Statement of Financial Activities**|13| |**Balance Sheet**|14| |**Cash Flow Statement**|15| |**Notes to the Cash Flow Statement**|16| |**Notes to the Financial Statements**|17 to 26| |**Detailed Statement of Financial Activities**|27 to 28| **GREENFIELD SCHOOL** ## **REPORT OF THE TRUSTEES for the year ended 31 August 2021** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). Page 1 **GREENFIELD SCHOOL** ## **REPORT OF THE TRUSTEES for the year ended 31 August 2021** ## **OBJECTIVES AND ACTIVITIES** ## **Principal Aims** The Trustees intend to ensure that the future of the School is assured and that the education and facilities provided over more than eighty-five years are continually improved and maintained at the highest possible level. In this way, parents will recognise that the School will continue to provide an affordable, first class, fee paying primary education for children from all backgrounds within the locality and also an educationally based Nursery and Pre-Preparatory Department for children from the age of six months to four years. In accordance with the aims of the memorandum and articles, the School provides bursaries and in addition there are hardship funds made available to support the financial needs of children who are already attending the School where there is a compelling need or a change in circumstances. Bursary funding is provided, in the main, from income generated from the School's investment portfolio and leasing of the School Estate. This ensures that the burden of this provision does not fall upon the fees generated by other parents. Bursaries are 'means tested' and awarded in accordance with the School's Bursary and Hardship policy. Bursaries and Hardship awards are reviewed biennially. Fees are very carefully controlled and the School offers exceptional value for money. Greenfield remains highly competitive when compared to other independent educational establishments within the wider Woking area. The School therefore offers a unique facility for parents whose children may not thrive in the state sector, or for parents who feel that the specialist teaching available at Greenfield will provide a more beneficial primary education on which secondary and subsequent education can be based. It is a key policy of the School that neither academic interview nor other entry qualification is ever imposed and Greenfield always endeavours to maximise the potential of each individual child regardless of their particular background providing the School is able to meet the child's educational and physical needs. ## Public Benefit The charitable status of the School is dependent on a certain level of activities related to Public Benefit. According to the charities commission, the Charities Bill requires organisations to pass two tests if they are to be charities. Firstly, that their objects are charitable, and secondly that they operate for the public benefit. The ongoing debate in Government may result in charities which advance education having to demonstrate in addition that they deliver public benefit. With no clear guidance on how or whether Public Benefit will be tested, Greenfield School would nevertheless highlight the following activities as evidence of its public benefit operations: **Bursaries** - as stated above the School is able to support a number of children through a Greenfield education where parents would not ordinarily be able to afford the full fees. The Bursaries are means tested and the Trustees are active in ensuring places are awarded and regularly reviewed in accordance with the School's policy which is designed to widen access to the School. **Links with the Community** - Although engagement with other schools has been difficult due to the restraints placed on the School by COVID-19, Greenfield continues to ensure its links with the local community are strong. Where it has been possible, the PE department has successfully run tournaments, of all sports, inviting other schools in the local area, which have been enthusiastically supported by maintained schools. Due to COVID-19, much of the links with local community have, over the 2020-2021 year, been based around fundraising and awareness raising. Causes helped include Sal's shoes, Comic Relief, Cancer Research, Sam and Bear Woking Hospice Centre and the Woking Foodbank (Sythwood). **Environmental** - From an environmental standpoint, the School has taken, and continues to take, steps to reduce its carbon footprint, by undertaking energy efficiency initiatives. LED lighting is installed throughout the School buildings, with sensors to cut energy consumption where rooms are empty. Work continues on the School's Estate to bring its running to as efficient place as possible. Increased waste recycling is encouraged and social responsibility is embedded in the curriculum using the UN Sustainability goals and the introduction of the Future World Team, which is a group of children of mixed age who decide which charities and what actions the School should be taking to protect the environment. The School hopes that its actions will in turn help the School's pupils to understand the importance of these issues, as they will become the leaders in future, driving initiatives for public benefit. ## **SIGNIFICANT EVENTS** Following the School's move to its new location in September 2019, it has continued to flourish and grow. ## Little School In January 2021, Greenfield opened Little School - a 50 week a year day care provision for children from 6 months to 4 years. The investment work that was carried out to create the first-class facility was significant and the addition to the Greenfield offer has been well received by current parents and the wider Greenfield community. The staff that were involved in this development worked exceptionally hard and this setting has been a huge success. Whilst primarily being a day care setting, children in Little School have access to the similar opportunities as the rest of the School: they are taught music by specialist teachers for music, dance, PE, art and forest school; they have access to all areas of the School's extensive estate; and their deliciously hearty meals are prepared by our Chef and their team. Page 2 **GREENFIELD SCHOOL** ## **REPORT OF THE TRUSTEES for the year ended 31 August 2021** ## New Building The School's large-scale extension project received planning permission in March 2020 and, from that date to starting works on site in May 2021, the team continued to agree the specification of works required and the extent of landscaping works required. The project has developed well and it is hoped that the building will be occupied during the 2021-2022 academic year. To complement the extension project, pupil numbers are growing at a rapid rate and the School is nearing being full. The two-form entry model complements the School's varied and rich curriculum. Considerable work continues to bring the extension project to a successful completion and Trustees thank all of those involved. ## COVID-19 Greenfield has continued to feel the impacts of COVID-19 during the 2020-2021 academic year. The School remained open throughout the year and Staff worked tirelessly to ensure that all children (whether on site or at home isolating for periods of time), were able to access the curriculum and be fully enriched in their learning. Staff were repeatedly praised by parents throughout the academic year for its regular and clear communications with parents and the quality of the offer. Page 3 **GREENFIELD SCHOOL** ## **REPORT OF THE TRUSTEES** ## **for the year ended 31 August 2021** ## **STRATEGIC REPORT Achievement and performance Pupil Achievement** Trustees are pleased to report that, along with parents, staff and the children, enthusiastic support continues for Mrs Botting and her Senior Leadership Team. Pupil numbers remain high and the School is increasingly well known in the community for excellent standards and scholarship achievements. This year, 26 Year 6 pupils were offered 65 places at selective, independent senior schools and these included 26 scholarships/exhibitions for Sport, Drama, Music and Academic achievement. ## **Educational Standards** In 2019, The School was subject to successful FCI ISI and Material Change Inspections. Whilst no inspections took place in 2020-2021, work continued to ensure that standards remain as high as ever and the School continually adapts to new regulation and teaching practices. ## **The Demographics of Woking** Residential development remains high in the Woking area as the town continues to attract new families with the lure of the fast and regular train service to central London. The impact of COVID-19 has seen the influx of families to the area grow even more. This development helps to maintain a high demand for places in the School which has made substantial progress under Mrs Botting's headship. Trustees have been reassured by the increasing pupil numbers and the stable income has enabled Trustees to support the large-scale expansion project. The Trustees are confident that in the medium and longer term, with the School's current reputation and competitive fee structure, there will be a satisfactory demand for places at Greenfield to ensure the future of the School. The additional services offered to parents of Little School and extended wrap around care (which includes a cooked breakfast and tea) continues to be very popular and is vital with many busy working parents. ## **The School Buildings** The site on the Old Woking Road needed significant refurbishment to bring it up to standard, including lighting, IT and furniture and additional temporary accommodation was leased from Portakabin while the extension is being built. Feedback from staff and pupils alike has been very positive and the School continues to look into reduced energy consumption initiatives. The Bursar continues to work with the School's IT contractor to ensure the resilience of the School's IT system is maintained. The Finance & Capital Requirements Committee continues to oversee and approve expenditure on key infrastructure projects surrounding refurbishments of the building (as highlighted by the Bursar and Estates and Health & Safety committee). ## **The School's Educational Investment** The increased number of staff that are now required to run the School have been a welcome addition and they have been successful in role. The School continues to invest heavily in special educational needs as well as additional classroom teaching support and this recognises and benefits those children with exceptional talents as well as those with less ability. The School continues to include any additional support for SEND within the fees, as long as the School has the required specialism. The Learning Enrichment team includes staff with specialisms in play therapy and Emotional Literary Support. This has been extremely beneficial to the School's children as required support can be identified and deployed more quickly and with no additional charge to the parents. Significant investment in staff training has continued in the year. The School's senior leadership regularly appraise the staff to understand their aspirations and identify the training needs. Focus will continue to be maintained on this. ## **The Parents** The Trustees are most appreciative of the ongoing support given by the Parents and Friends of Greenfield School (FROGS), both in financial as well as general support terms. FROGs has continued to provide financial help to the School, which is of a general nature, enabling non routine items of expenditure to be incorporated into the normal school budget to the ultimate advantage and benefit of all the children. This year the parents raised funds for a camera and recording equipment for the Music team along with a set of Virtual Reality headsets. Both are used extensively in School and a fantastic addition to the School's offer. Trustees would like to note that, with the reduced ability to hold large fundraising events as a result of COVID-19, the work completed in 2020-2021 academic year by FROGS to raise funds was even more appreciated. Page 4 **GREENFIELD SCHOOL** ## **REPORT OF THE TRUSTEES** ## **for the year ended 31 August 2021** ## **STRATEGIC REPORT Financial review** ## **Overview** As set out above, pupil numbers continue to grow at a rapid rate. Investment income has reduced by £16,312 on 2020 after selling one of the investment properties last year. No rent review is due this year for the School's investment property. The income generated continues to provide bursary opportunities for pupils who would not ordinarily be able to attend the School and these investments are also of vital importance to the School's long-term development plan. Donations this year totalled £9,987 (£16,880 in 2020). All staff are paid in accordance with the Greenfield Pay Scale, which is set with reference to the industry in general and with due regard to specific Independent Schools Benchmarking Surveys, such as 'Baines Cutler'. Individuals are therefore paid according to the job they do which is defined within specific pay point ranges in the Greenfield Pay Scale. This applies equally to the senior leadership roles. The Greenfield Pay Scale is reviewed annually by the Trustees to decide whether inflationary and/or performance increases are awarded. The Trustees set the Headmistress' salary and the Headmistress, in consultation with the Trustees, sets the salaries of the Senior Leadership Team. Costs rose year on year mainly from salaries, increased spending on facilities upgrades and other one-off expenses. Salaries increased this year in order to reflect inflationary and merit increases as well as additional staff for the new areas of the School (including Little School). Catering costs have increased in line with the additional people in school. The School made a loss for the year of £449,016 (2020: loss of 242,136). This is shown after taking account of depreciation of buildings and equipment of £217,098 (2020: £165,223) The School increased borrowings to fund the large-scale expansion project at its new site. The School continues to generate strong inflows of cash; the closing position of £1,477,345 is a decrease of £2,043,501 on 2020. The Trustees remain confident to invest in the future of the School as it continues to expand in 2021/22. ## **Reserves policy** The School's reserve policy is regularly monitored by the Trustees and is designed to ensure the ongoing future of the School. These reserves are held in the form of an investment property previously gifted to the School, together with short term liquid assets. The School receives the bulk of its income in termly instalments and therefore to guard against short term cash flow problems, the policy stipulates that the School should keep funds equivalent to three months operational costs in liquid assets to guard against any delays in receiving fee income. This equates to £750,000, which is held in an interest-bearing bank account. ## Summary The Trustees consider that the financial affairs of the School are excellent. Fee Income remains strong, both from Core Education and from the extensive Wrap-Around Care that Greenfield offers. This is continually popular amongst the School's parents many of whom have both parents working full time. The cost of provision of the education is closely monitored, monthly budget reports are created and distributed for greater analysis and control. Any surplus of income over expense is utilised to upgrade the buildings and facilities to continuously improve the educational environment, whilst ensuring the aims of the long-term development plan are also financially planned ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The company is limited by guarantee, operates as a school and is a registered charity. The charity is governed by the Memorandum and Articles of Association of Greenfield School. Page 5 **GREENFIELD SCHOOL** ## **REPORT OF THE TRUSTEES** ## **for the year ended 31 August 2021** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Structure, Governance and Management** The board of Governors, who are also trustees, has been established to provide the widest possible range of expertise, not only in the educational field but also in the area of business and finance generally. It remains the policy of the School that the Board continues to maintain this diversity, which ensures that the School has the benefit of a multi-talented governing body and these skills can be drawn on for the benefit of the School, not only as an educational establishment but also as an organisation within the local community. The Governing body continues to have absolute authority in establishing the broad policies within which the School must operate, monitors the financial and budgetary controls, examines the policy concerning financial reserves and continually reviews the risk management strategies that are in place and ensures that the School fully complies with the requirements as set out in the charity memorandum and articles. The day-to-day management of the School however, remains the responsibility of the Headmistress, who is also an ex officio governor and as such reports to the board on a regular basis. ## **The School** The School, which is sited in a central location within Old Woking, 1.5 miles from the centre of the built-up area of Woking, now has the benefit of extensive playing fields. It is a fundamental policy of the School that Greenfield should maintain its unique position in the local community and continue its long-established history of involvement with neighbouring organisations and activities. The Governors ensure that, whenever practical, School facilities are made available to other institutions (either not for profit or for profit). ## **Risk management** The Governors have reviewed, and indeed continue to reassess the risks to which the charity is exposed and has implemented policies to mitigate those risks. To best monitor the management and operation of the School, the Governors have created four sub-committees that meet to review process and issues and provide summary feedback to the full Governor meetings held on a termly basis. The subcommittees comprise: Legal Compliance & Governance Education and Safeguarding Estates and Health & Safety Finance & Capital Requirements All Policies and Risks identified are owned by the appropriate sub-committee and are constantly reviewed. One of the biggest immediate risks the School may face is the impact of either closure or reduced pupil numbers as a result of COVID-19. The School is mitigating this risk through extended provision and education which has been well received by parents. In addition, 'Loss of Charitable Status' is a further risk. There continues to be debate at Government level on the Charitable Status of Independent schools, based on whether the requirement to be of Public Benefit can be met. Governors firmly believe this to be the case. ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Registered Company number** 02035304 (England and Wales) ## **Registered Charity number** 295145 ## **Registered office** Old Woking Road Woking Surrey GU22 8HY Page 6 **GREENFIELD SCHOOL** ## **REPORT OF THE TRUSTEES** ## **for the year ended 31 August 2021** ## **Trustees** J R Day Chair N Phillips Deputy Chair K Tyson Deputy Chair C Beckett T Botting (Ex Officio) M Cook J Denyer M Hoskins P Hutchinson I Latif ## **Company Secretary** M Gardiner ## **Auditors** HPCA Ltd Chartered Accountants and Statutory Auditors Station House Connaught Road Brookwood Woking Surrey GU24 0ER ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees (who are also the directors of Greenfield School for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - there is no relevant audit information of which the charitable company's auditors are unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. ## **AUDITORS** The auditors, HPCA Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting. Page 7 **GREENFIELD SCHOOL** ## **REPORT OF THE TRUSTEES** ## **for the year ended 31 August 2021** Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: .................................................................................. J R Day - Trustee Page 8 ## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF GREENFIELD SCHOOL** ## **Opinion** We have audited the financial statements of Greenfield School (the 'charitable company') for the year ended 31 August 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, 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 (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 August 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 UK, including the FRC'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. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 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. In connection with our audit of the financial statements, 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 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. ## **Opinions 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 Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Report of the Trustees has been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the 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 Report of the Trustees. We have nothing to report in respect of the following matters where the 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 9 ## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF GREENFIELD SCHOOL** ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, 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. Page 10 ## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF GREENFIELD SCHOOL** ## **Our 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 a Report of the Independent Auditors 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ## **The extent to which the audit was considered capable of detecting irregularities including fraud** Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and - skills to identify or recognise non-compliance with applicable laws and regulations; - we identified the laws and regulations applicable to the charitable company through discussions with trustees and other - management, and from our commercial knowledge and experience of the sector; - we focused on specific laws and regulations which we considered may have a direct material effect on the financial - statements or the operations of the charitable company, including compliance for accreditation, the Companies Act 2006, - the Charities Act, taxation, data protection, safeguarding, employment, equality, environmental and health and safety - - legislation; - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of - management and inspecting legal correspondence; and - identified laws and regulations were communicated within the audit team regularly and the team remained alert to - instances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, - suspected and alleged fraud; and - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships; - tested journal entries to identify unusual transactions: - assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential - - bias; and - investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - agreeing financial statement disclosures to underlying supporting documentation: - enquiring of management as to any actual and potential litigation and claims; and - reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's - - legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 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 Report of the Independent Auditors. Page 11 ## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF GREENFIELD SCHOOL** ## **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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Lance Redman (Senior Statutory Auditor) for and on behalf of HPCA Ltd Chartered Accountants and Statutory Auditors Station House Connaught Road Brookwood Woking Surrey GU24 0ER Date: ............................................. Page 12 **GREENFIELD SCHOOL** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 August 2021** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
5
Education
Other trading activities
3
Investment income
4
Other income
**Total**
**EXPENDITURE ON**
**Charitable activities**
6
Education
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|2021
2020
Unrestricted
Unrestricted
fund
fund
£
£
9,989
16,880
3,719,031
3,036,390
60,150
136,174
13,579
31,043
-
727,300
3,802,749
3,947,787
4,251,765
4,189,923
(449,016)
(242,136)
3,055,154
3,297,290
2,606,138
3,055,154| |---|---| The notes form part of these financial statements Page 13 ## **GREENFIELD SCHOOL** ## **BALANCE SHEET** ## **31 August 2021** |Notes
**FIXED ASSETS**
Tangible assets
13
Investment property
14
**CURRENT ASSETS**
Debtors
15
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
16
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
17
**NET ASSETS**
**FUNDS**
20
Unrestricted funds
**TOTAL FUNDS**|2021
Total
funds
£
8,967,901
350,000
9,317,901
42,570
1,477,345
1,519,915
(1,377,960)
141,955
9,459,856
(6,853,718)
2,606,138
2,606,138
2,606,138|2020
Total
funds
£
5,755,033
350,000
6,105,033
710,321
3,520,846
4,231,167
(588,034)
3,643,133
9,748,166
(6,693,012)
3,055,154
3,055,154
3,055,154| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. J R Day - Trustee The notes form part of these financial statements Page 14 **GREENFIELD SCHOOL** |**CASH FLOW STATEMENT**
**for the year ended 31 August 2021**
2021
Notes
£
**Cash flows from operating activities**
Cash generated from operations
1
1,372,887
Interest paid
(133,206)
Net cash provided by/(used in) operating activities
1,239,681
**Cash flows from investing activities**
Purchase of tangible fixed assets
(3,429,967)
Sale of tangible fixed assets
-
Interest received
13,579
Net cash (used in)/provided by investing activities
(3,416,388)
**Cash flows from financing activities**
New loans in year
133,206
Net cash provided by financing activities
133,206
**Change in cash and cash equivalents in the**
**reporting period**
(2,043,501)
**Cash and cash equivalents at the beginning of**
**the reporting period**
3,520,846
**Cash and cash equivalents at the end of the**
**reporting period**
1,477,345|2020
£
(1,577,307)
(155,985)
(1,733,292)
(320,199)
2,800,000
31,043
2,510,844
1,196,512
1,196,512
1,974,064
1,546,782
3,520,846| |---|---| The notes form part of these financial statements Page 15 **GREENFIELD SCHOOL** ## **NOTES TO THE CASH FLOW STATEMENT for the year ended 31 August 2021** ## **1.** ## 2. |**NOTES TO THE CASH FLOW STATEMENT**
**for the year ended 31 August 2021**|**NOTES TO THE CASH FLOW STATEMENT**
**for the year ended 31 August 2021**|**NOTES TO THE CASH FLOW STATEMENT**
**for the year ended 31 August 2021**|**NOTES TO THE CASH FLOW STATEMENT**
**for the year ended 31 August 2021**|**NOTES TO THE CASH FLOW STATEMENT**
**for the year ended 31 August 2021**| |---|---|---|---|---| |**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**||||| ||||2021|2020| ||||£|£| |**Net expenditure for the reporting period (as per the Statement of Financial**||||| |**Activities)**|||(449,016)|(242,136)| |**Adjustments for:**||||| |Depreciation charges|||217,099|165,223| |Profit on disposal of fixed assets|||-|(727,300)| |Interest received|||(13,579)|(31,043)| |Interest paid|||133,206|155,985| |cost of sale of property|||-|(62,904)| |Decrease/(increase) in debtors|||667,751|(506,204)| |Increase/(decrease) in creditors|||817,426|(328,928)| |**Net cash provided by/(used in) operations**|||1,372,887|(1,577,307)| |**ANALYSIS OF CHANGES IN NET DEBT**||||| ||At 1.9.20||Cash flow|At 31.8.21| |||£|£|£| |**Net cash**||||| |Cash at bank and in hand|3,520,846||(2,043,501)|1,477,345| ||3,520,846||(2,043,501)|1,477,345| |**Debt**||||| |Debts falling due after 1 year|(6,576,512)||(133,206)|(6,709,718)| ||(6,576,512)||(133,206)|(6,709,718)| |**Total**|(3,055,666)||(2,176,707)|(5,232,373)| The notes form part of these financial statements Page 16 **GREENFIELD SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Fee income is stated net of scholarships and bursaries together with amounts charged for clubs, trips and other extras, net of the associated costs. ## **Deferred Income** Where income is received in advance of meeting any performance related conditions and there is not unconditional entitlement to the income, its recognition is deferred and included in creditors as deferred income until the performance conditions are met. ## **Donations and legacies** Donations and legacies receivable for the general purpose of the school are credited to unrestricted funds. ## **Investment income** Income from investment properties and interest on funds held on deposit are included when receivable and the amount can be measured reliably by the charity. Rental income is recognised when it is due and interest is recognised when it is received. ## **Expenditure and irrecoverable vat** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Irrecoverable vat is charged as a cost against the activity for which the expenditure was incurred. ## **Allocation and apportionment of costs** Resources expended are included in the Statement of Financial Activities on an accruals basis and are allocated to a specific activity where costs relate directly to that activity. Costs of generating funds are the costs directly attributable to raising funds. Charitable expenditure includes all costs directly relating to the objective of the charity and the costs involved in supporting that work. Governance costs relate to the costs of legal and professional fees and audit fees. Support costs include those costs connected with the management of the charity's assets, organisational management and administration and compliance with constitutional and statutory requirements. These include all expenditure not directly related to the charitable activity or fundraising ventures. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. - Freehold property - Straight line over 50 years Fixtures and fittings - 15% on reducing balance Computer equipment - 33% on reducing balance continued... Page 17 **GREENFIELD SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2021** ## **1. ACCOUNTING POLICIES - continued** ## **Tangible fixed assets** Individual assets costing £750 or more are capitalised and valued at historical cost. All other assets under this amount are expended to the statement of financial activities. ## **Investment property** The investments are stated at market value at the Balance Sheet date. Profits and losses on revaluation of the assets at the end of the year are reflected in the accounts in the Statement of Financial Activities. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Hire purchase and leasing commitments** Assets purchased under finance leases are capitalised as fixed assets and depreciated over the term of the lease. Obligations under such agreements are included in creditors net of the finance charges to future periods. Finance charges are written off to the SOFA over the period of the lease. ## **Pension costs and other post-retirement benefits** The company operates a defined contribution pension scheme for administration and support staff. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Teaching staff are included in the Government's teacher's pension scheme. Contribution rates are set by the Scheme Actuary and advised to the Board by the Scheme Administrator at the Department of Education and Employment. Pension benefits are based on final pensionable salary. Contributions payable for the year are charged to the Statement of Financial Activities. ## **2.** ## **3.** ## **DONATIONS AND LEGACIES** |Gifts
Donations
**OTHER TRADING ACTIVITIES**
Fundraising events
Sundry income
Other income||2021
£
2
9,987
9,989
2021
£
103
7,117
52,930
60,150|| |---|---|---|---| ||||| Other income represents grants received from the Government for COVID 19. continued... Page 18 **GREENFIELD SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS - continued** ## **for the year ended 31 August 2021** ## **4. INVESTMENT INCOME** |Deposit account interest
Investment income
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
School fees, net of bursary
Education
School trips and clubs
Education
Registration fees
Education
**6.**
**CHARITABLE ACTIVITIES COSTS**
Education
**7.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Staff costs
Leasing costs
Textbooks and technical information
Classroom replacement material
Hire of sports pitches/coaches
School trips and clubs
School concerts & prize giving
Food and milk
Lighting, heating and cooking
Cleaning
General costs
Legal & professional fees
General and water rates
Decoration and maintenance
Classroom equipment
Insurance
Modular building rental
Advertising
Depreciation|Direct
Costs (see
note 7)
£
3,702,260|2021
£
279
13,300
13,579
2021
£
3,605,021
99,823
14,187
3,719,031
Support
costs (see
note 8)
£
549,505
2021
£
2,412,102
23,383
12,963
7,664
6,720
63,151
2,305
242,800
63,689
79,434
9,960
3,966
(20,744)
146,548
34,269
40,351
335,347
21,254
217,098
3,702,260|2020
£
1,431
29,612
31,043
2020
£
2,845,744
183,346
7,300
3,036,390
Totals
£
4,251,765
2020
£
2,017,458
23,321
10,470
8,869
10,532
124,803
621
187,321
57,316
51,608
4,191
21,113
88,467
155,364
30,789
52,294
364,744
35,236
165,223
3,409,740| |---|---|---|---| There was a reclassification of certain individuals so that direct salary costs increased compared to 2020 and similarly, support salary costs reduced. continued... Page 19 **GREENFIELD SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS - continued** ## **for the year ended 31 August 2021** ## **8. SUPPORT COSTS** |Governance
Management
costs
£
£
Education
534,275
15,230|Totals
£
549,505| |---|---| Support costs, included in the above, are as follows: ## **Management** |**Management**||| |---|---|---| ||2021|2020| ||Education|Education| ||£|£| |Administrative salaries|208,701|373,703| |Social security|19,575|31,752| |Pensions|28,187|24,973| |Travelling expenses|3,003|2,858| |Telephone|9,803|8,887| |Printing, postage & stationery|6,330|7,581| |Bank charges and interest paid|590|508| |Sundry expenses|17,942|27,377| |Subscriptions|14,623|18,896| |Staff training|11,994|6,701| |Computer maintenance & support|75,171|90,878| |Payroll management|5,150|5,313| |Removals|-|11,654| |Loan interest|133,206|155,985| ||534,275|767,066| |**Governance costs**||| ||2021|2020| ||Education|Education| ||£|£| |Trustees' expenses|950|1,869| |Auditors' remuneration|9,500|9,000| |Auditors' remuneration for non-audit work|4,780|2,248| ||15,230|13,117| ## **Governance costs** ## **9. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): |Auditors' remuneration
Other non-audit services
Depreciation - owned assets
Other operating leases
Surplus on disposal of fixed assets|2021
£
9,500
4,780
217,099
23,383
-|2020
£
9,000
2,248
165,222
23,321
(727,300)| |---|---|---| continued... Page 20 **GREENFIELD SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2021** ## **10. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020. ## **Trustees' expenses** ## **11.** |**Trustees' expenses**||| |---|---|---| |Trustees' expenses
**STAFF COSTS**
Wages and salaries
Social security costs
Other pension costs|2021
£
950
2021
£
1,962,436
196,968
509,161
2,668,565|2020
£
1,869
2020
£
1,936,157
182,777
328,952| |||2,447,886| Included in staff costs are wages and pension costs for teachers £2,250,588 (2020: £1,919,054), administration staff £256,463 (2020: £430,428) and estate staff £161,514 (2020: £98,404). The average monthly number of employees during the year was as follows: |The average monthly number of employees during the year was as follows:||| |---|---|---| |Teachers
Administration and domestic|2021
54
27
81|2020
53
17| |||70| The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: |£60,001 - £70,000
£70,001 - £80,000
£80,001 - £90,000
£100,001 - £150,000|2021
1
1
-
1
3|2020
1
-
1
-| |---|---|---| |||2| The school considers its key management personnel comprise the directors, head teacher, senior members of staff and the bursar. The total employment benefits including employer pension contributions of key management personnel were £501,207 (2020 £460,593) continued... Page 21 **GREENFIELD SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS - continued** ## **for the year ended 31 August 2021** ## **12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Education
Other trading activities
Investment income
Other income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Education
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**TANGIBLE FIXED ASSETS**
Freehold
Property
property
Improvements
£
£
**COST**
At 1 September 2020
4,883,418
550,226
Additions
3,155,913
169,184
At 31 August 2021
8,039,331
719,410
**DEPRECIATION**
At 1 September 2020
51,668
33,432
Charge for year
57,669
71,941
At 31 August 2021
109,337
105,373
**NET BOOK VALUE**
At 31 August 2021
7,929,994
614,037
At 31 August 2020
4,831,750
516,794|Fixtures
and
fittings
£
469,052
86,676
555,728
103,196
67,880
171,076
384,652
365,856|Computer
equipment
£
156,622
18,194
174,816
115,989
19,609
135,598
39,218
40,633|Unrestricted
fund
£
16,880
3,036,390
136,174
31,043
727,300
3,947,787
4,189,923
(242,136)
3,297,290
3,055,154
Totals
£
6,059,318
3,429,967
9,489,285
304,285
217,099
521,384
8,967,901
5,755,033| |---|---|---|---| ||||| ||||| ||||| ||||| ||||| ## **13. TANGIBLE FIXED ASSETS** continued... Page 22 **GREENFIELD SCHOOL** **15.** **16.** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2021** ## **14. INVESTMENT PROPERTY** |**INVESTMENT PROPERTY**|| |---|---| |**FAIR VALUE**
At 1 September 2020
and 31 August 2021
**NET BOOK VALUE**
At 31 August 2021
At 31 August 2020|£
350,000| ||350,000| ||350,000| In 1998 a gift of 54-56 Chertsey Road, Woking was received. At the time it was received its estimated open market value was £164,000. That was the effective value of the gift and therefore the historical cost for Greenfield school. I July 2017 Savills revalued Chertsey Road at £350,000. ## **DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |---|---|---| |Trade debtors
Other debtors
Prepayments and accrued income|2021
£
-
20,053
22,517
42,570|2020
£
2,825
33,294
674,202| |||710,321| Included in prepayments last year were professional fees of £574,874 which were capitalised during this year as the building work had commenced. The building work was still ongoing at this year-end and so no depreciation has been charged on these capitalised assets this year. ## **CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |---|---|---| |Trade creditors
Social security and other taxes
Accruals and deferred income|2021
£
913,892
52,026
412,042
1,377,960|2020
£
125,410
41,518
421,106| |||588,034| Fees and childcare vouchers received in advance for September term are included in deferred income and amounted to £323,198 the amount released from the previous year was £252,275 continued... Page 23 **GREENFIELD SCHOOL** **19. LEASING AGREEMENTS** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2021** ## **17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR** |**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**||| |---|---|---| |Other loans (see note 18)
Fee deposits held|2021
£
6,709,718
144,000
6,853,718|2020
£
6,576,512
116,500| |||6,693,012| ## **18.** ## **LOANS** An analysis of the maturity of loans is given below: |Amounts falling due between two and five years:
Other loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Other loans more 5yrs instalments|2021
£
571,040
6,138,678|2020
£
419,777| |---|---|---| |||6,156,735| A loan was obtained to purchase a new site for the school. The loan is secured on property belonging to the school and is for a total period of 50 years. During the first 3 years no payments will be made but interest will accrue and then it will be repaid over the next 47 years. The interest rate applicable over the 47-year period will be 1 % point above the 47 years Public works Loan Board Annuity Rate. Minimum lease payments under non-cancellable operating leases fall due as follows: |Minimum lease payments under non-cancellable operating leases fall due as follows:||| |---|---|---| |Within one year
Between one and five years|2021
£
7,604
5,504
13,108|2020
£
31,152
15,668| |||46,820| ## **20. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.9.20
£
3,055,154
3,055,154|Net
movement
in funds
£
(449,016)
(449,016)|At
31.8.21
£
2,606,138| |---|---|---|---| ||||2,606,138| continued... Page 24 **GREENFIELD SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2021** ## **20. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
3,802,749
3,802,749|Resources
expended
£
(4,251,765)
(4,251,765)|Movement
in funds
£
(449,016)
(449,016)| |---|---|---|---| ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.9.19
£
3,297,290
3,297,290

Incoming
resources
£
3,947,787
3,947,787|Net
movement
in funds
£
(242,136)
(242,136)
Resources
expended
£
(4,189,923)
(4,189,923)|At
31.8.20
£
3,055,154
3,055,154
Movement
in funds
£
(242,136)
(242,136)| |---|---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.9.19
£
3,297,290
3,297,290|Net
movement
in funds
£
(691,152)
(691,152)|At
31.8.21
£
2,606,138| |---|---|---|---| ||||2,606,138| continued... Page 25 **GREENFIELD SCHOOL** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2021** ## **20. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
7,750,536
7,750,536|Resources
expended
£
(8,441,688)
(8,441,688)|Movement
in funds
£
(691,152)
(691,152)| |---|---|---|---| ## **21. EMPLOYEE BENEFIT OBLIGATIONS** ## a) Teachers The teachers' superannuation scheme is a contributory scheme administered by the Department for Education and Employment. The scheme automatically covers teachers who have not elected to opt out of the scheme in order to make alternative pension provision. Greenfield School is unable to identify its share of the underlying assets and liabilities as each employer in the scheme pays a common contribution rate. The most recent valuation of the Scheme resulted in a revision to the contribution rate structure with employee rates varying between 7.4% and 11.7% from April 2015. Employer contributions will continue for the period at the recently increased rate of 23.68%. The scheme provides pension benefits based on pensionable salary. The superannuation cost charge represents contributions payable to the fund and amounted to £252,690 (2020: £244,418). ## b) Other Staff The school also operates defined contribution schemes for other staff members and those teachers who chose to opt out of the Department for Education and Employment scheme referred to above. The assets of the scheme are held separately from those of the school in funds administered by Insurance Companies. The pension cost charge represents contributions payable in respect of these scheme and amounted to £112,137 (2020: £84,534). ## **22. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 August 2021. ## **23. MEMBERS LIABILITY** The liability of the members are limited. Members are liable to contribute to the assets of the company in the event of a wind up. They are liable while they are members and for a year after. The amount of this liability is restricted to £10 per member. Page 26 **GREENFIELD SCHOOL** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 August 2021** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Gifts
Donations
**Other trading activities**
Fundraising events
Sundry income
Other income
**Investment income**
Deposit account interest
Investment income
**Charitable activities**
School fees, net of bursary
School trips and clubs
Registration fees
**Other income**
Gain on sale of tangible fixed assets
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Social security
Pensions
Leasing costs
Textbooks and technical information
Classroom replacement material
Hire of sports pitches/coaches
School trips and clubs
School concerts & prize giving
Food and milk
Lighting, heating and cooking
Cleaning
General costs
Legal & professional fees
Carried forward|2021
£
2
9,987
9,989
103
7,117
52,930
60,150
279
13,300
13,579
3,605,021
99,823
14,187
3,719,031
-
3,802,749
1,753,735
177,393
480,974
23,383
12,963
7,664
6,720
63,151
2,305
242,800
63,689
79,434
9,960
3,966
2,928,137|2020
£
5
16,875
16,880
359
19,421
116,394
136,174
1,431
29,612
31,043
2,845,744
183,346
7,300
3,036,390
727,300
3,947,787
1,562,454
151,025
303,979
23,321
10,470
8,869
10,532
124,803
621
187,321
57,316
51,608
4,191
21,113
2,517,623| |---|---|---| This page does not form part of the statutory financial statements Page 27 ## **GREENFIELD SCHOOL** |**DETAILED**
**Charitable activities**
Brought forward
General and water rates
Decoration and maintenance
Classroom equipment
Insurance
Modular building rental
Advertising
Depreciation of freehold properties
Short leasehold
Depreciation of fixtures and fittings
Depreciation of computer equipment
**Support costs**
**Management**
Administrative salaries
Social security
Pensions
Travelling expenses
Telephone
Printing, postage & stationery
Bank charges and interest paid
Sundry expenses
Subscriptions
Staff training
Computer maintenance & support
Payroll management
Removals
Loan interest
**Governance costs**
Trustees' expenses
Auditors' remuneration
Auditors' remuneration for non-audit work
Total resources expended
**Net expenditure**|**DETAILED**|**STATEMENT OF FINANCIAL ACTIVITIES**
**for the year ended 31 August 2021**|2021
£
2,928,137
(20,744)
146,548
34,269
40,351
335,347
21,254
57,668
71,941
67,880
19,609
3,702,260
208,701
19,575
28,187
3,003
9,803
6,330
590
17,942
14,623
11,994
75,171
5,150
-
133,206
534,275
950
9,500
4,780
15,230
4,251,765
(449,016)|2020
£
2,517,623
88,467
155,364
30,789
52,294
364,744
35,236
51,668
33,432
59,272
20,851
3,409,740
373,703
31,752
24,973
2,858
8,887
7,581
508
27,377
18,896
6,701
90,878
5,313
11,654
155,985
767,066
1,869
9,000
2,248
13,117
4,189,923
(242,136)| |---|---|---|---|---| This page does not form part of the statutory financial statements Page 28