LINGFIELD COLLEGE IA COMPANY LIMITED BY GUARANTEEI ANNUAL REPORT AND FINANCIAL STATEMENTS 31 AUGUST 2022 Company Registration Number 02072135 Registered Charity Number 0295598 LINGFIELD COLLEGE Page I LEGAL AND ADMINISTRATIVE DETAILS DIRECTORS, TRUSTEES AND MEMBERS Mr S Bell (appointed 25 April 20221 Mrs N Calvey (appointed 25 April 20221 Mrs A Cooper Mr P Dodridge Mrs S Douglas (appointed l October 20221 Mr K Gutteridge Mrs F Halpin Ms C Higgins (resigned 22 March 20221 Mr N Hinton Mrs C Horobin (appointed 2S April 2022, resigned 12 January 20231 Mr M Mccann (appointed 25 April 20221 MrPTSamuels Mrs A Tait lappointed 28 June 20221 GOVERNORS Mrs A Penton IresiEned l April 20221 Mrs L Pereira lappointed 11 Novernber 20211 Mr l Rolfe (resigned 31 july 20221 The Trustees are also Governors of the School. HEADMASTER MrRWBool REGISTERED OFFICE Lingfield College Racecourse Road Lingfield Surrey RH7 6PH REGISTERED COMPANY NUMBER 02072135 REGISTERED CHARITY NUMBER 0295598 BANKERS Lloyds Bank PIC 1-3 London Road East Grinstead West Sussex RH19 IAH SOLICITORS Ru55ell-Cooke Solicitors 2 Putney Hill London SW15 6A8 AUDITORS RSM UK Audit LLP statutory Auditor Chartered Accountants Portland 25 High Street Crawley West Sussex. RHIO IBG LINGFIELD COLLEGE Page 2 DIRECTORS, AND TRUSTEES, REPORT for the year ended 31 August 2022 The Directors are pleased io submit their ènnual report for the year ended 31 August 2022 which is prepared to meet the requirements for a Strategic Report for Companies Act purpose5. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of A550Clation, and Accounting and Reporting bv 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 IFRS 1021 leffective l January 20191. STRUCTURE, GOVERNANCE AND MANAGEMENT Structure Lingfield college.the School" is a charitable company incorporated on 7 November 1986 in England and Wales, and is a company limited by the guarantee of its members to a maximum of £1 each. The total number of such guarantees at 31 August 2022 is 1212021..61. Governing Document The constitution of the Company is contained in the Memorandum and Articles of Association adopted by special re501ution on 14 February 2018. Dirertors and Trustees The Directors are members of the Company and also Trustees for the purpose of charity law. The Company is required to have a minimum of four and a maximum of fifteen Trustees. New Trustees are invited. when appropriate, and following an interview process, to join the board having been assessed by the existing Trustees as to their suitability having regard to their personal competence, specialist skills and availability. The Trustees who served durin8 the year and since the year end are.. Mr S Bell (appointed 25 April 20221 Mrs N Calvey (appointed 25 April 20221 Mrs A Cooper Mr P Dodridge Mrs S Dougl3s (appointed l October 20221 Mr K Gutteridge Mrs F Halpin Ms C Higgins (resigned 22 March 20221 Mr N Hinton Mrs C Horobin (appointed 25 April 20221 Mr M Mccann (appointed 25 April 20221 MrPTSamuels Mrs A Tait lappointed 28 June 20221 Trustees are appointed for four years. Retiring Trustees may be re-appointed, but a Trustee who has served for two consecutive terms must take a break from office for one year before being re-appointed unless re-appointment is deerned to be in the best interest of the Charity. Tnistee Truining New Trustees are inducted into the workings of the School and also of the Company as a registered charity through meetings with existing Trustees. the Headmaster and other key staff members. Trnstee Meetlngs The Trustees meet at least three times a year to consider, when appropriate, the general policy of the School, to review its current activities and financial performance and to addre55 any issues which may affect the efficient and effective managernent of the busine55. The Headmaster and other relevant staff members may be requested to attend meetings in an advisory capacitv. LINGFIELD COLLEGE Page 3 DIRECTORS, AND TRUSTEES, REPORT for the year ended 31 August 2022 Governors and the Governing 8ody Under the Articles of Association, the Trustees May delegate their powers and functions, and the implementation of their decisions, as they think fit. The Trustees have appointed Governors and have established a number of sub- committees to assist them with the discharge of their duties. All the current Trustees are also Governors. The role of the Governing Body is to aSSlSt the Trustees IN ensuring that the School runs successfully in accordance with its charitable objectives and strategic plans and to act as an advisory body to the Trustees. The Governing Body meets at least once in every School term to assist the Trustees in determining the general policy of the School and reviewing its overall manaeement and control. The Tiustees have formed a number of 5ub-comrnittees to review and advise on policy in various key areas. Each 5ub- committee meets termly prior to each meeting of the full Governing Body. The day-to-day management of the School is delegated to the Headmaster supported by his Leadership team. The Governing Body of the School during the year and since the year end comprised the Directors and Trustees (listed on page 21 together with the following.. Mrs L Pereira The abtsve named Governor is not a Trustee under charity law or Directors under company law. All Trustees and Governors give their time freely and no remuneration was paid in the year. OBJEcfs. AIMS. OBJEcfivES AND PRINCIPAL AcfiviTIES The main objects of the School, as set out in its Articles, are to promote and provide a co-edutational School for children aged 2 to 18 as an educational charity. It may a150 develop courses to be delivered in other forms for educational purposes. There are no specific restrictions imposed upon the charity provided these aims are pursued. Strateglc Alm and Intended Effect The School's strategic aim continues to be to develop students as individuals, to prepare them for the challenees thev will face after School and enable them to acquire the life skills, self-awareness and compassion required. The School aims to achieve these goals through the development of pupils, abilitie5 and acadernic potential, providing the appropriate environment in terms of facilities, equipment and skilled staffing, and motivating pupils ultimately to leave the School as good citizens suitably equipped to enjoy the challenges and opportunities of life. Oblectlves of the Year In setting the objectives the Trustees continue to give careful consideration to the Charity Commission's Eeneral Euidance on public benefit and, in particular, to its supplementary public benefit guidance on advancing education and fee charging. The School'5 main objective for the year continued to be the education of all pupi15 to at least the same high standard as achieved by the School in previous years, so that ultimately, they May be able to thrive in either higher education or their chosen workplace. strategy & Ethos As a charitable trust the Trustees are responsible for the strategy for achieving its objectives. The focus of our strategy. operating in line with broadly Christian values, is on the development and motivation of our pupils in a caring and safeguarded environment and maintaining the acce55ibility of the School to pupi15 from all backgrounds. In order to forward our Strategy, we.. continually review and improve the School's academic syllabus and teaching practices in order to maintain and improve examination results.. LINGFIELD COLLEGE Page 4 DIRE￿oR5, AND TRUSTEES, REPORT for the year ended 31 August 2022 recruit and develop well qualified staff and maintain high teacher to pupil ratlO5', invest in technology, building5 and equipment,. regularly communicate with parents through reports, parents, evenings, newsletters, emails, Twitter, Facebook and the School website,. and ensure that the extensive ranEe of extra-curricular activities available to our pupils remains stimulating and thallenging. In addition, our strategies provide for the welfare of our pupils through.. a comprehensive pastoral care programme,. strong system of support from form and year tutors,. regular collective School assemblies conducted by pupils, staff and visiting speakers,. and an involvement with local, national and international charities. Admission The School's admi55ion5 policy, including details of bursary application procedures, 15 included on our comprehensive website www.lin rieldcolle e.co.uk together with other policies which demonstrate the School's commitment to the safeguarding and welfare of its pupils and information regarding other administrative matters. The School's aim is to welcome pupils it will be able to educate and develop to the best of their potential. Entry into our Prep School is dependent on Space availability, a trial day which include5 an assessment of Mathematics and English and a reference from the previous School. There is no formal testing for potential Nursery pupils. In the Senior School entry for years 7 to 10 is by examination and a reference from the previous School. External entry into the 6 form is also warmly welcomed. This will depend on GCSE results and a reference from the previous School. Pri￿1Pa1ArtIVit￿eS ofthe year The Company's main object is the provision of day School education for both boys and girls to at least the same high standard as achieved by the School in previous years. The Trustees are delighted to report that the School's pupils have chieved a I￿% A level pèss rate with 88Yo of our 6 form pupils gaining A. to B and IOOYO of BTEC students achieved distinction to rnerit with 53 pupi15 heading off to University with 89% of students taking up their first choice university. In the GCSE examinations IOC>% of students at the School achieved at least 5 GCSES 9-4 and 96% with 9-5. Throughout the School, all pupils were considered to have been successful relative to both government targets and our own internal monitoring criteria. These achievements were made possible by the excellent teachiN8 and support Staff employed by the School. At the conclusion of the 2021-22 academic year the pupil roll totalled 90512021.. 9021, with most year groups being full. The demand for places at Lingfield College remains high, and this is reflected in another high level of registrations for future admission. Investments in the School's facilities continued this year with the following projects completed Complete refurbishment of the Foundation stage classrooms and equipment. New playground surfaces and equipment for both the Foundation stage and the Prep School pupils. New Astro surface, including dugouts, scoreboard and goal5. New multl-5urface sports facility for cricket, netball and hockev. Additional classroom created within the main School. LINGFIELD COLLEGE Page 5 DIRE￿oR5, AND TRUSTEES, REPORT for the year ended 31 August 2022 In addition to the academic successes the School has continued to provide opportunities for its pupils to excel in a varietv of disciplines.. Drqmq The Drama department consists of two well-equipped Studios which are used as classrooms, rehearsal spaces and perforrning areas. They both have drapes and Stage lighting, allowing the space to be fully and creatively used. Drama 15 taught in each year of KS3 and is offered as a GCSE option in Year5 10 and 11. It is a popular Subject at thi5 level, a5 It 15 at A Level. Many of ourA level students go on to study Drama and related subjects at University and Drama school. Lingfield has a few notable students, both past and current. who work professionally in the industry. There are 2 productions each academic year, an upper school production cast from Years 10-13 which performs in November. Additionally, a lower school production featurin8 Students from Years 7-9 is performed in June. Last year these were 'The Lovely Bones, and 'Around the World in 80 Day5, respectively. Alongside these performance5, we have regular GCSE and A level work which is performed to friends and family throughout the year, as well as various visiting workshops and performance projects. Another element of our extra-curricular work is a thriving Speech and Drama department which runs separately from the mainstream teèching. Specialist peripatetic teachers offer private group tuition which prepares students for two examination se55ion5- one in October and one in March. Our results have been very impressive IN recent years. In the higher grades IGrades 6 and above) students can earn UCAS points. The School runs theatre trips at regular intervals for Sixth form and G￿E exam students and also a theatre trip for each vear group. Recent trips have included 'Curious Incident of The Dog in The Night-time, and 'Ocean at The End of The Lane,. The School also has elubs for each year at KS3 and for those interested in technical theatre. In the Senior School, student5 can apply for Drama Scholarship at 134 (Year 81, and 16+ (Year 111. In the Prep School, Drama is a very popular subject taught by a specialist teacher from Reception. The themes are often linked to other areas of the curriculum that the children are studying such as a book, period of time or topical subject such as bullying durine Anti-bullying week. The children have a weekly lesson. and all are involved in a wonderful pioduction every year. We run three Drama Clubs each week from Year 3 upwards and they are always oversubscribed. We are fortunate to have a well-resourced Drama Studio with a green Screen area, puppet theatre and many costumes for dressing up. Pupils can apply for a Orama scholarship in Year 6. Sport The School has a sporting ethos of Opportunity, Participation and Excellence. Physical education and Games form a major part of the curriculum, with the students also having access to a wide range of sporting extra-curricular activities which take place durine lunchtime, after school clubs and at weekends. The aim is to provide students with the opportunity to represent the School across a full range of 5POrt5, at all levels and age groups through an extensive local school's fixture list, as well as county and national competitions in football, hockey, netball, and cricket. Alongside these, we have seen a huge increase in participation in our minor sports, particularly in girls, football, boy5, rugby, and boys, basketball, The latter two, now have a local district league Set up 3s well a5 th friendlie5 we play for our A teams. Girl'5 football ha5 had fantastlc 5ucce55 Wlth the under 13 gir15 reaching the ISFA National finals at St Georges Park. Other areas in which pupi15 get to participate now on a regular basis is in cross tountry and Swimming, and whi15t the school doesn't have a pool, we have some very strong swimmer5. students have access to an excellent range of facilities including a fitness suite and sixteen acres of the School site which are dedicated to sport. Over the summei the netball courts and Astroturf have both been resuifated and an additional multi-sport area has been developed. The school now has an established strength and conditioning programme to which all sports scholars and senior players follow. They have weekly access to small group sessions with our S&C specialist. This has really helped with students, functional movement, and speed strength and power when playing in matche5 on any competitive environment. In the senior school, we are now averaging 50 competitive fixtures per week across the various age groups and teams, providing our students with a fabulous opportunity to channel their energies and talents to whichever sport thev participate. All of these, combined with an e)rtensive co-curricular program of over 120 lunch and after school clubs per week, there really is something for everyone. LINGFIELD COLLEGE Page 6 DIRECTORS, AND TRUSTEES, REPORT for the year ended 31 August 2022 In the Prep School, all pupils have access to a very large and well-equipped sports hall, 3 large hard surface courts, outdoor cricket nets as well as two grass football pitches. We are also fortunate to have allocated time where we can use the Senior School facilities too, such as the Astro pitch, 2 longjump pit5 and the 300m running track. Our PE staff are extremely passionate about sport and dedicate many hours to ensure well planned and fresh lessons as well as a wide range of fixtures and a full sports programme. Our aim is to enthuse all children so that they thoroughly enjoy playing spoit and taking part in the range of fitness and physical activities that we offer. We also have many club5 running in the Prep school, such as Sport5 Club, Karate, Modein and Street Dance and Tenni5 to name but a few. All children from Year 3 upwards will have the opportunity to represent the school in a team, regardless of ability. We play local and regional inter school matches and tournaments and reEularly achieve qualification from regional events through to the Nation31 Championships. Pupils can apply for Sports Scholarships when they are in Year 4 and Year 6. Those who have a scholarship or award may occasionally be given the opportunity to play in the Senior School and attend performance enhancing workshops. Co-currlculur Alongside the sports programme, the overall eo-curricular programme has shown considerable progression. New and exciting lunchtime activities added to the list. MUN2021-22 Over the academic year, the students attend a number of conferences as well as hosting a conference for schools in the area at Lin8field for those who enjoy simulating a United Nation5 Conference. They take on the role of dele8ates from a particular country and debate global issues. Last year's success included, three awards and best delegation at Alleyn's school and four awards and best delegation at Royal Russell plus a number of others and events throughout the year. In December, Lingfield hosted a one-day conference, involving in excess of 90 students and 5 different schools. Music Music is taught as a class Subject to all pupils in the Lower School where talented, practical musician5 are encouraged to continue the subject at GCSE and A-level. Individual tuition is available in all orchestral and band instruments with students taking practical instrumental and vocal examinations in ABRSM, LCM, MTB, Trinity and Rock School. students have access to specific music proerammes and production software such as Sibelius and Garageband and piattite in our specially designated rooms. The Auditorium is an ideal venue for the School's musicians to develop confident performance 5ki11s which are displayed at the regular and varied programme of concerts, recitals, and School events through-out the year. The Music Scholars, concert saw several year groups of scholars and award holders, take to the auditorium stage which helped to inspire and provide students with a goal, seeing pupils in year groups above them perform to such a high standard. September 20215aw the department reinstate all concerts and productions after the covid lockdowns. This was met with a huge response from pupils who were desperate and genuinely excited to take to the stage again both as soloists and within the School ensembles. The academic year also saw two new concerts added to the School calendar in the form of the'Piano Recital EveninE' and 'Cabaret NiEht'. The Piano recital wa5 run in a similar v8in to those at con5ervatoire5 such a5 Royal Academy and the pianist5 all perforrned to a high standard as a result. The layout and change of set up in the auditoriurn also helped to convey a conservatoire feel. The recital was well received by parents, especially those whose children only play piano. The Christmas Concert, one of the most well attended and popular shows of the year finally returned and though we still had a small number of covid restrictions, all the ensembles were able to take to the stage and gave the department a huge morale b005t. January also saw the introduction of a new show in the departrnent'5 diary in the form of Cabaret Night. Due to the lack of a whole School rnusical, there was a need to provide for all the students who sing Musical Theatre, in addition to students in the School who dance. A rounded Performing Arts style show was missing from the School's provision and this event helped to ensure we are now providing opportunities for all areas of Performing Arts. LINGFIELD COLLEGE Page 7 DIRE￿oR5, AND TRUSTEES, REPORT for the year ended 31 August 2022 The show saw students perform a number from famous West End shows, ballet and jazz dance as well as superb magic act routine by a Year 13. The event was a huge success. Rock and Jazz Night sold out both shows in just 48 hours and the event was so popular we sold standing room only tickets overnight between the two shows. It continues to be the most well received show of the year for both pupils and staff. Undoubtedly the biggest 5uccess/addition of the 202112022 academic year was the hiring of a sound and lighting company to run all the music department concerts. Providing all the latest digital sound and lighting equipment, desks, backdrops, star cloths and West End level of professional equipment that take our School productions to the next level. Parents have been highly impressed by the lighting effects and standard of Sound produced at the concert%, and pupils learn huge amounts from watching the engineers work, asking therr questions. It also makes the students want to practise and perform to the highest standard possible as they know they will be miked professionally and given top quality sound and effects. The many trip5 planned to concert halls and the west end for th8 start of 2021 sadly had to be postponed due to high covid number5 and the West End closing many of their productions. It Is hope all trips will be reinstated in 202212023. Other Departments In line with the School's aims, all departments in the School not only educate the pupils in accordance with the national curriculum but also expand the Subject area5 and, therefore, the pupi15' experience through the use of visiting 5peaker5, educational visits, external competitions and other associated events. Externally, the School continue5 to enjoy great success, the strength of its sport being an increasingly prominent feature. The Duke of Edinburgh programme is also extremely popular with a large number of students achieving Bronze, Silver and Gold Awards. Trustees would like to express their appreciation to all the staff who willingly Eive their time to our extra-curricular activities. COMMUNITY OUTREACH AND PUBLIC BENEFIT Hlgh quullty educotlon The School provide5 a public benefit through the provision of well-educated and 5elf-confident people who are ready to contribute positively to society in general. In order to benefit the public through the pursuit of its stated aims the School continues to maintain competitive levels of fees which ensure financial viability whilst supporting the costs which are necessary to deliver education in accordance with the School's objectives. Our gross termly tuition fees for 2021-22 prior to the deduction of any bursaries or other concessions were.. Reception and Year I Years 2 to 6 Years 7t0 11 Years 12 to 13 £3,825 £4,420 £5,840 £5.940 Bursgries ondScholorship5 The School seeks to attract appropriate pupils from all backgrounds, includinE those with financial circumstances which might make an independent education impracticable. To this end, it supports a number of pupils with bursary awards Isorne at IOO%I, scholarships and staff discount5. Bur5arie5 are granted by the Trustees either on a means-tested basis or, occasionally, on an ad hoc basis following requests frorn parents whose financial circumstances have changed, and consideration thereof by the Headmaster. Scholarships are awarded based upon not only academic achievement but also dramatic, artistic, musical or sporting ability where the School will aim to develop, through its program of events for Scholars, the relevant pupil's abilities whilst they will be expected to fully contribute to the School's activities in their specialist area5. During the year these variou5 concession5 reduced fee incorne by £1,183,944 12021= £1,324,295) including bursaries granted for the year of £471,987. Concessions overall represented 8.5%12021'. 9.8%) of our gr05S income excluding nursery income. Fundraising ondtommunity outreoch Pupils are encouraged to be actively involved in charitable activities to support local, national and international charitie5. Over the academic year the pupils raised a total of £12,01212021'. £9,948). The beneficiaries included Place2be, Disasters Emergency Committee for Ukraine, Racing to school, St Catherines Hospice, Children in need and Macmillan. LINGFIELD COLLEGE Page 8 DIRECTORS, AND TRUSTEES, REPORT for the year ended 31 August 2022 VoLu￿EERS Lingfield Parents Association, the School's parent body, continued to provide support to the School through their fundraising effort5. The Trustee5 would like to take this opportunity to say how much we appreciate their continuing and valuable support for our work. STKATEGIC REVIEW Financial Review & Results for the yèar The financial results for the year are set out on page 14. Total income from charitable activities was £13,849,77012021'. £12,679,7081 of which £13,162,35912021'. £12,090,461) was derived from tuition fees. Additional income was raised from the re-charging of outings, trips and other activities of £429,87612021'. £292.0031. Income is not recognised on trips where the School ac15 a5 agent only. For these trip5, balance5 are held on the balance sheet a5 debtors or creditors at the year end. As a charity, the parents of our pupils have the assurance that all the School's income must be applied for educational purposes. We enjoy a number of benefits associated with charitable status. including exemption from taxation and reduced busine55 rates, which are all applied to our charitable aims. The parents of our pupils often make significant sacrifices to pay the School fees. In doing so they help to relieve the state of the financial burden of educating 856 UK based children. The saving is estimated to be £5.8m. The School is unable to recover VAT on purchases made. During the past year Lingfield College has paid an estimated £541k in VAT on Eoods and services. The Trustees regularly review the finances, budgets and expenditure relative to the budgets in order to ensure the effective stewardship of the School. Rèserves Polity and Going Contèrn The School's Unrestricted funds total £16,974,53912021.. £16,013,342) and are represented mostly by fixed assets. The restricted endowment funds total £50,00012021.' £50,0001 and are funds held as permanent capital. It continues to be the Trustees, policy to invest in the structure of the School and to maintain, develop and improve its resources as appropriate for the continuing discharee of the School's academic and pastoral responsibilities. Financial projections and scenario analysi5 looking forward for a period of at least 12 months demonstrate that pupil numbers for 2022-2023 remain healthy and that the School has sufficient cash and funds to enable it to meet its liabilities as they become due and therefore the Trustees consider that the School remains a going concern. The increase in utilitv COSts will have a huge impact on surplus for 2022-23 but mitigating plans have been put in place as best they can. Future Plans Our future educational objectives remain largely the same as last year. All our future plans are currently financed through fee income and our reserves. It is our continuing policy to ensure that current pupils benefit whilst also providing and maintaining a sound infrastructure and financial stability for the benefit of future pupils. Our involvement with the local community has continued to develop and expand through the provision of facilities and financial support whenever practicable. A number of organisations use the school's facilities including sports fields. auditorium, and minibuses. and we will continue to make them available for appropriate activities. A number of partnerships with local primary schools has developed including staff and sixth form pupils from Lingfield going out to Support the pupi15 from these School with sports coaching, music, maths support. A number of staff members are Governors at some state schools and colleges. LINGFIELD COLLEGE Page 9 DIRE￿oR5, AND TRUSTEES, REPORT for the year ended 31 August 2022 We have continued to 5UPPOrt parents who cannot afford full fees through the award of means-tested bursaries and will continue to address this area. In particular, the Trustees remain keen to increase the awards in order to widen access to the education which the School provides. The School will also continue to encourage the local community to access, for educational purposes the School's facilities. Investment Policy. Powers and Performance Investment powers are governed by the Articles which permit monies not required for immediate use to be invested in such investments, securities or property as the Trustees shall think fit. The Trustees current policy is to retain surplus fund5, when available, on deposit. Pay po15cy for Sensor staff The Trustees consider that the board of directors. who are the School's Trustees, and the Senior Management team comprise the key managernent personnel of the School in charge of directing and controlling, running and operating the School on a day-to-day basis. All Trustees give of their time freely and no Trustee received rerruneration in the year. Details of Trustees, expenses and related party transactions are disclosed in note 6 to the accounts. The pay of the senior staff is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the School, the Trustees benchmèrk against pay levels in other Independent Schools of a similar size. Risk Management In consultation with key management the Trustees continue to keep the School's activities under review, particularlv with regard to any major risks that may arise from time to time. The Trustees monitor the effectiveness of the system of internal control and other viable means, including insurance cover where appropriate, by which those risks already identified can best be rnitigated. The key risks to be managed by the School are the safeguarding of children, ongoing financial stability, the retention of hiehly skilled staff. together with an appropriate level of Governance and strategic planning. Due to the current economic instability there is a hi8h potential that this could impact fee income and pupil numbers. Managerrent have undertaken detailed scenario forecast5 to ensure that the School is best placed to mitigate any potential impact. Pupil numbers for 22/23 look strong with many year groups full. AUDITORS RSM UK Audit LLP has indicated its willingness to continue in office. LINGFIELD COLLEGE Page 10 DIRECTORS. AND TRUSTEES, REPORT for the year endèd 31 August 2022 DIRECTORS AND TRUSTEES RF.SPONSIRII ITIF£ IN THE PREPARATION OF FINANCIAL STATEMENTS The Director5 and Trustees are responsible for preparing the Annual Report and financial statements in accordance with applicable law and United Kingdom Accountlng Standards (united Kingdorn Generally Accepted Accounting Practicel. CDttiPdriy Idw I¥qUII¥S Lli¥ Tiusl¥vs Iv preparr finaiicial statemeiits for each financial year which give a true and fair view tsf 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 perlod. In preparin8 these financial statements, the Directors and TrI￿$t9P% Arp rgqiiirpd tn.. 5elert suitsble accounting policies and then apply them consistently; obsKbrvp thp mgthnds and printiplp.s in the Charities SORP: make judgements and estimate5 that are reasonable and prudent,. state whether 3pplirAhlp IIK Ar.r.niJnting Standards have been followed, subject to any material departures dlsc105ed and expldiiivd iii Lliv fiiidllLldl Jlaleiiieiits, dnd prepare the financi81 statement5 on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. Thp nirertorq And TriJqtpp% aTP rp.sponsible for keeping proper accounting records which disc105e with reasonable ccurac¥ at any time the financial position of the charitable company and enable them to ensure that the financial ststement5 comply with the Companies Art 2006. They are also responsible for safe8uarding the assets of the company and hence for taking reasonable steps for the preventlon and detertion of fraud and other irregularities. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS The Dlrectors who were in office on the date of approval of these financial statements have confirmed, as far as they are aware. that thprg if nn rplpvant aijdit information of which the auditors are unaware. Each ot the Directors have confirmed that they have taken all the step5 that they ought to have taken as Dirertors in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor. By ordpr nf thp TriJ 564.524 5 541847 6,106.371 501.311 4 340 759 4.842,070 Creditors falling due within one y¥dr 12 13.202,0031 1?,145 ?401 N¥t Current asset5 2,904,368 2,696,830 Tntal assets l@ss current liabilttl•s 17 024 J39 16 063 342 Net assets 17 024 539 16 063 342 Th@ funds of the charity: Unre5trlcted Income funds Restricted Income funds 16.974,539 50,000 16,013.342 50,000 13 Tntal Charityfunds 17 024 S39 IG,063,342 The financial 51atements on pages 14 to 24 were approved by the board and authorlsed for issue and signed on its behalf by F Halpin Chair 9th March 2023 P T Samuels Trustee 9th March 2023 LINGFIELD COLLEGE Page 16 STATEMENT OF CASHFLOWS for the year ended 31 August 2022 Notes 2022 2021 Net cash provlded by operating activlties 2.623,909 1,790,951 Investing activitiès Interest income Purchase of tangible fixed assets Proceeds from disposal of motor vehicle 2,350 11,425,371) 200 12,191 1422,0641 Cash used in investing activities 11,422,821) 1409,8731 Net increase in cash and cash equivalents in the year 1,201,088 1,381,078 Cash and cash equivalents at the beginning of the year 4,340,759 2,959.681 Total cash and cash equivalents at the ènd of the year 5,541,847 4,340,759 LINGFIELD COLLEGE Page 17 ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows.. al Basis of preparation and le8al status The charity is limited by guarantee and has no share capital. The registered office is Lingfield College, Racecourse Road, ngfield, 5urrey, RH7 6PH. The School is registered as a charity under charity number 0295598, company number 02072135. The financial statements have been prepared in accordance with the Charities.. statement of Recommended Practice lapplicable to charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FR5 10211 (issued October 20191 Icharities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companie5 Act 2006. The accounts are prepared in Sterling and rounded to the nearest £. Lingfield College meet5 the definition of a public benefit entity under FRS 102. A55ets and liabilities are initially recogni5ed at historical cost or transaction v31ue unless otherwise st3ted in the relevant accounting policy note. bl Preparation of the accounts on a going concern b351S The Trustees have prepared detailed financial projectitsns and scenario analysis which indicate the School can continue to operate a5 a going concern for a period of at least 12 months frorn the date of Signing ol these financial 5tatement5. These projections considered the potential impact of inflation and other economic effect5 and scenari05 considering change5 in pupil numb&rs and fees. The Trustees are satisfied that the School is in a position to meet its liabilities 3S they fall due over the next 12 months from the date of signing of these financial statements. On this basis, the Trustees consider there are no material uncertainties about the School's ability to continue as a going concern and have accordingly prepared the financial statements on a going concern basis. ¢1 Income Incorne 15 recogni5ed in the period in which the School 15 entitled to receipt, it is probable it will be received, and the amount C3n be rne3sured. Income 15 deferred when the School ha5to fulfil conditions, such as the education of a child. before becoming Fees consist of amounts charged for the School year less bursaries, scholarships and discounts. dl Interest receivable Interest on fund5 held on deposit 15 included when receivable and the amount can be rnea5ured reliably bythe charity,. this is normally upon notification of the interest paid or payable by the 8ank. el Fund auounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donation5 which the donor has specified are to be solely used for bursaries and scholarships. Endowrnent funds are donated to the School to be held in perpetuity. Expendlture and Irre¢overable VAT Expenditure is recoEnised once there is a legal or constructive obligation to make a payment to a third partyi It is probable that settlement will be reouired, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Expenditure on charitable activities includes the costs of performances, exhibitions and other educational activities undertaken to further the purposes ol the charity and their associated support costs. Other expenditure represents those itern5 not falling into any other heading. Irrecoverable VAT 15 charged a5 a c05t against the activity lor which the expenditure wa5 incurred. There are no apportioned 5UPPOrt costs, all are directly allocated. gl Tangible Fixed A5setS Fixed a55ets are stated at cost less accurnulated depreciation. Individual items, or projects are reviewed for capitalisation tsn a case by case basis. Depreciation is provided at rates calculated to write off the cost of each asset, excluding land. over it5 expected useful life. Depreciation comrnence5 in the year in which the expenditure 15 incurred and a full year's depreciation charge is recognised in that year. The following rates of depreciation have been applied.. LINGFIELD COLLEGE Page 18 ACCOUNTING POLICIES 81 Tangible Fixed Assets Itontinuedl Freehold buildings School equipment and rnotor vehicles A5set5 under con5truttion Over 10- 50 years 10%- 33% straight line rnethod Not depreciated until brought into Use Impairrnent of Fixed A55et'. At each reporting period end. the charity review5 the carrying value of its fixed asset5 to determine whether there is any indication those assets have Suffered an imp3irrnent105s. If an indication exists, the r￿0verable amount is estimated in order to determine the extent of the impairment loss. h) Fixed 35set investments Investment5 in subsidiaries are initially measured at C05t and 5ub5equently measured at C05t less any accumulated impairrnent 1055es. The inve5trnents are a5se55ed for irnpairment at each reporting date and any impairment 1055e5 are recogni5ed immediately in the Statement of Financial Activities. 11 Debtors Trade and other debtors are recogni5ed at the Settlement amount due after any trade discount offered. Prepayment5 are valued at the amount prepaid net of anytrade di5COUnt5 due. A provision for impairment oftrade debtor5 is est3bli5hed when there is evidencethat the amount5 due will not be collected according to the original terms ofthe contratt. Impairment10s5es are recogni5ed in the Statement of Finaficial Activitie5. 11 Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. kl Credltors and provlslons Creditors (including fee deposits) and provisions are recognised where the charity has a present obligation resulting from a pasr event that will probably result in rhe transfer of funds to a third party and the amount due to settle rhe obligation can be m&asured or estimated reli8bly. Creditors and provisions are normally recognised at their settlem&nt amount after allowing for any trade discounts due. 11 Financlal Instruments Theschool only hasfin8ncial assets and financial liabilities of a kind thatqualify as basic financial instruments. Basic financial instruments are initially recognised 3t transaction value and subsequently measured at their settlement value. ml Pensions The School operated two pension schemes durinB the year for its staff. For the teaching staff, The APT15 scheme for its Te8ching staff, which is a defined contribution scheme. The contributions are charged to the Statement ol Financial Activities in the ye8r in which th&y are p3id. Differenc&s between contributions payabl& and actually paid are shown in debtors and creditors. For the non-teaching staff, the School operates a defined contributlon 5cherne the contributionsto which are charged to the Statement of Financial Activities in the year in which they are paid. n) Leases Rental paid under operating leases are charged to the Statement of Financial Activities as incurred, on a straight-line basis. ol Consolldatlon ngfield ColleEe is exempt from the requirements to prepare group accounts by virtue of Section 405 of the Cornpanies Att 2006. These financial statements therefore present information about the charitable company as an individual undertakinz and not a5 a group. The Charities SORP allows for a subsidiary to be excluded from consolidation when its inclusion is not material lor the purpose ol giving a true and fair view. In the opinion of the Trustees, the results and net a55ets of Lingfield College International Limited are not material in this context and therefore consolidated accounts have not been prepared. Details of the subsidiary are given in note 10. LINGFIELD COLLEGE Page 19 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2022 Income from donatlons and legacles 2022 2021 Donations Income frtsm donations and legacies was £3.86512021.. £7,186) of which £3,865 was unrestricted12021= £7,18613nd £nil wa5 restricted12021.. £nill. Income from charltable actlvltles 2022 2021 Tuition fee5 Bursaries, scholarships and discount5 Tuition fees net of bursaries, scholarships and discounts 14,346,303 1 183 944 13,162,359 13,414,756 1324 295 12,090,461 Registration fees Fee5 in lieu of notice Catering School transport Government Job Retention Bonus Scheme Outings, trips, activities and other income 35,050 15,240 30,748 176,497 34,715 23,576 30,149 113,148 95,656 292,003 429,876 77 Income from charitable activities was £13,849,77012021 £12,679,708) of which £13.849.770 was unrestricted 12021.. £12,679,708) and £nil was restricted12021.. £nill. Investment income 2022 2021 Interest income Rental income 2,350 2,566 12.191 1,000 Investment income was E4,91612021.. £13,191) of which £4,499 wa5 unre5tricted12021: £12,972) and £417 wa5 restricted12021.' £2191 Analysls of expendlture on charltable actSvltles Staff Costs Other costs Depreciation Total 2022 Total 2021 Teaching costs Premi5e5 costs Catering School transport Administration 7,100,287 290,639 1.206,500 1,246,981 844,317 371,469 251,486 159,985 475,262 9,589 8,466,772 2,012,882 853,906 371,469 1,192,325 7.787,590 1,775,848 693,720 313,147 1,138,626 913,963 26,876 8 304 889 3 920 753 671712 12 897 354 11708 931 Expenditure on charitable activities was £12.897.35412021'. £11.708,9311 of which £12,897.354 was unrestricted12021'. £11,708,9311 and £nil12021.. £nill was restricted. Support cost5 are directly allocated to the cost centre which they relate to. LINGFIELD COLLEGE Page 20 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2022 Net Income for the year This 15 Stated after chargin8'. 2022 2021 Auditor's remuneration Depreciation on owned assets Operating lease Profit on disposal of motor vehicles 30,900 671.712 2S,289 12001 16,800 500,472 36,163 Analysis of staff costs, Trustee remuneration and expenses. and the cost of key management personnel The related costs were: 2022 2021 Wages and 5alarie5 Social security costs Pension contributions 6,603,642 638,794 1,062,453 6,252,591 598,761 1,049,620 8 304 889 7 900 972 Pension costs are allocated to activities IN proportion to the related Staffing cost5 incurred and are wholly charged to unrestricted funds. Pension contributions include an amount of £132,58012021'. £107,323) in respect of the higher paid employees disclosed in the bands below. The number of employees where emoluments exceeded £60,000 were.. 2022 2021 £60,000- £70,000 £70,001- £80,000 £120,001- £130,000 £130,001- £140,000 The key management personnel of the School comprise the Trustees, the Head Teachers. Head of Finance & Resources, Deputy Head (Pastorall, Deputy Head (Academic). Deputy Head (Prep School), Deputy Head (Foundationl, Assistant Head, Organisation & Developrnent Manager, Head of Sixth forrn and Director of Sport. The total ernployee benefit5 of the key management personnel of the School were £1,003,98712021'. £1,021,078) including employer's NIC paid in the Year of £86,42312021'. 86,8681. The Trustees were not paid and did not receive any other benefits from the School in the year12021.. £nill. Two Trustees were reimbursed expenses in relation to travel during the year of £139,12021.. £901. No trustee received payment for professional or other service5 supplied to the School12021.. £nill. staff numbèrs The average monthly head count Was 233 staff12021.. 214 staff). The average weekly number of full time equivalent employees during the year was 16212021.. 1551 made up as follows.. 2022 2021 Teaching and teachin8 SUPPOrt Administration Premises 130 25 125 23 162 IS5 LINGFIELD COLLEGE Page 21 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2022 8 Corporatlon Tax The charity is exempt from tax on income and gains falling within section 471 to 489 of the Corporation Tax Act 2010 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. Tangible fixed assets Freehold land and buildings Assets under construction School Equipment Motor vehicles Total Cost or valuation As at I September 2021 17,529,863 3,785,084 87,092 126,525 21,528,564 Additions Disposals Transfers As at 31 August 2022 598,567 80S,036 21,768 110,9721 1,425,371 110,9721 87,092 4.677,212 187,0921 18,128,430 137.321 22.942,963 Depreclatlon A5 at I September 2021 4,469,892 3,566,596 125,565 8,162,053 Charge for the year Disposals As at 31 August 2022 428,511 237,887 5,314 110.9721 119.907 671.712 110,9721 8,822,793 4,898,403 3004,483 Net Book Value 31 August 2022 31 August 2021 13 059 971 960 13 366 511 On an historical cost basis. the freehold property would have been included at.. 2022 2021 Cost 17,678,429 17,079,862 Aggregate depreciation 4,763,313 4,334,802 On adoption of FRS102, the cost and valuation of freehold land and buildings was treated as deemed cost. Expenditure since that date has been included at C05t. io Investments The charity holds I share of £1 in its wholly owned subsidiary company Lingfield College International Limited which 15 incorporated in the United Kingdom. The registered office of LingField College International Limited is Racecourse Road, Lingfield, Surrey, RH7 6PH.These are the only shares allotted, called up and fully paid. The results of Lingfield College International Limited are not consolidated, as noted in the accounting policies. li Debtors 2022 2021 Due within one year Fee debtors Prepayments and accrued income Other debtors 111,015 345,448 108,061 39,634 322,787 138,890 LINGFIELD COLLEGE PaEe 22 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2022 12 Credltors 2022 2021 Amounts falling due within one year Trade creditors Taxation and social security costs other creditors Atcruals and deferred income 328,905 169,107 676,498 2,027,493 399,533 151,006 645,389 949,312 3,202,003 2,145,240 Lloyds Bank plc hold a charge secured upon the charitable companvs freehold property. This is to secure the bank's position in the event of the company holding an overdraft. Deferred Income Deferred Income movements are as follows 2022 2021 Balance a5 at I September 2021 Released in the Year Deferred in the year Balance as at 31 August 2022 791,785 1791,7851 1232 522 1232 522 633,647 1633,6471 791785 791785 Deferred incorne relates to School fee5 for the Autumn term £1,122,75412021.. £791,785) and future terms £109,76812021.. £16,542) 13 Analysls of charltable funds 2022 Balance at September 2021 Balance at 31 August 2022 Income Expenditure Transfers Unrestricted funds General fund 16,013,342 13,858,134 112,897,354) 417 16,974,539 Restrlcted funds SSND Endowment 50,000 417 14171 50,000 Total fund5 16,063,342 13,858,551 112,897,3541 17,024,539 2021 Balance at September 2020 Balance at 31 August 2021 Income Expenditure Transfers Unrestrirted funds General fund 15,022,188 12,699,866 111,708,9311 219 16,013,342 Restrided funds SSND Endowment 50,000 219 12191 50,000 Total funds 15.072,188 12,700,085 111.708,9311 16,063,342 LINGFIELD COLLEGE Page 23 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2022 Analysls of charltable funds Icontlnuedl The School Sisters of Notre Dame Trust Fund I'SSND'I restricted income includes the income earned on the initial capital investment and other amount5 which are to be used for bursaries and scholarships. The School Sisters of Notre Dame Trust Fund Endowment Fund is the initial capital received from The School Sisters of Notre Dame Trust Fund to be held as an investment to produce future income for future scholarships and bursaries. The transfer frorn the restricted fund5 to unrestricted funds 15 to recognise the utilisation of the SSND fund against bursaries and scholarships granted. 14 Analysls of net assets between funds 2022 Unrestricted Funds Restricted Funds Total Funds Fixed Assets & Investments Debtors Cash at bank Creditors 14,120.171 564,524 5,491,847 13,202,003) 14,120.171 564,524 5,541,847 13,202,003) 50,000 TOTAL FUNDS 16,974,539 50,000 17,024,539 2021 Unrestricted Funds Restricted Funds Total Funds Fixed Assets Debtors Cash at bank Creditors 13,366,512 501,311 4,290,759 12,145.2401 13,366,512 501,311 4,340,759 12,145,240> 50,000 TOTAL FUNDS 16,013,342 50.000 16,063.342 15 Commltments under operatSng leases The total future minimurn lease payrnent5 under non-cancellable operating leases are as follows.. 2022 2021 Within one year Within two to five years 15.935 26,376 32,080 48,015 48.015 74.391 LINGFIELD COLLEGE Page 24 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2022 16 Penslon commltments Aviva Pension Trust for Independent Schools IAPTISI The School participated in the defined contribution scheme APTIS for its Teaching staff. The pension charge for the period includes contributions payable to APTIS of £935,84612021.. £378,0411 and at the year-end £Nil12021'. £Nill was actiued in respect of contributions to this scheme. National Employment Saving Trust INEST) For non-teaching staff the School contributes to a defined contributions pension scheme, through the Government's National Employment Saving Trust INESTI. The pension cost charge represents contributions payable by the School and amounted to £92,59012021.. £87,632). Pension contributions totalling £5,70612021.' £5,531) were outstanding at the year end and are included in creditors. other pèrsonal pension sthème The School contributes to another personal pension scherne for two member5 of Staff. This is a defined contribution5 scheme administered by an independent company. The School's contribution to this fund was £34,01112021.' £35,143). 17 Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles 2022 2021 Net movement in funds Adjustments for.. Interest received Depreciation Ilncrea5el in debtors Increase in creditors Profit tsn disposal of motor vehicle 961,197 991,154 12,3501 671,712 163,2131 I,Q56,763 12001 112,1911 500,472 1122,5751 434,091 Net cash inflow from operating activities 2,623,909 1,790,951 18 Related Party Transactlons Lingfield College International Limited is a wholly owned subsidiary company. R Bool & A Bra55ett are Directors of the company and are Head Teacher and Head of Finance & Resources respectively within Lingfield College. There were no transactions between the two entities during the year. During the year, the school held £23,05912021-.£nill at the year end on behalf of Lingfield College Crisis Support Fund. a related charity. This amount will be paid across to the Lingfield College Crisis Support Fund following the completion of it5 registration at the Charity cornmi55ion.