2022-08-31-accounts

	Page
Referenceand administrative detailsofthe School, its Governorsandadvisers
Governors' report	2-9
lndependentauditors'reporfon thãf¡üä'fð¡ástäiemãñts	10-13
Statement of financialactivities	14
Balancesheet	15
Statementofcash flows	16
Notesto the financial statements	17-32

	Governors	JamesonMiller,Chair
		AndrewFlint
		AdamMatthews
		Nicholas Pyatt
		VictoriaHemming
		Daniel Lloyd
		Cecilia Bufton(resignedJune2022)
		DrTerence McMaster
		Gareth Turnbull
		Simon Linnitt
		Rashmi Rungta
		,Alan Teece
	Company registered
	number	;ozoggg¿o
	Charity registered
	number	I296491.
	Registeredoffice	iSidcot School
		.Oakridge Lane
		,Winscombe
		,NorthSomerset
		.BS251PD
	lndependent auditors	Moore Kingston Smith
		6thFloor
		9 AppoldStreet
		London
		ECZAzAP
	Bankers	iLloyds Bankplc
I i		Bath Street
I		Cheddar
:		BS27 3AB
t,.
	Solicitors	,HarrisonClark RickerbysLimited
		'Ellenborough House
		I Wellington Street
		;Cheltenham
		.CISOtYO

Safety Committee.Oaytoday man year, comprised:	ageme	ntis delegated totheSenior Management
Headmaster		lainKilpatrick*
DeputyHeadPastoral		JoannaLeite*
Deputy HeadAcademic Head ofJuniorSchool Director ofOperations	-	ChristianHughes CatherineDykes KeithPerry*
DirectorofFinance		SteveHarris*
Directorof Marketing andDevelopment-		Sarah Simms"(appointed1OthSept2021)
DirectoroflnternationalRelations		AngelaDudley-Warde
Headof lT Services		AllisonClarke (appointed'13thSept2021)
AssistantHeadTeachingand Learning-		CharlotteResuggan
Assistant HeadUpper School		TomRuddle
HeadofBoarding		AmandineSmilevich

		Unrestricted/
		Designated	Restricted	Endowment	Total	Total
	Notes	funds Ê	funds Ê	fund Ê	2022t	2021 Ê
INCOME FROM:
CharitableActivities
School fees	3	11,150,149			II,150,149	9,321,468
Other educational income	4	848,348			848,348	571,351
Other income	5
Other trading income		181,336			181,336	164,539
lnvestments
lnvestment lncome Voluntarysources	b	3,582	41,375		44,957	51,851
Grants and donations	7	86,261	25,000		111,261	500,403
Total income andendowments		12,269,676	66,375		12,336,051	10,609,61 2
EXPENDITURE ON:
Costsofraisingfunds
Other trading costs		6,581			6,581	6,769
lnterest and other costs		31,853			31,853	22,819
Charitableactivities
Education costs	8	11,444,658	66,375		11,51I,033	10,666,972
Total expenditure	I	11 483,092	66,375		11,549,467	10,696,560
Netoperating income/(expenditure)		786,584			786,584	(86,948)
Pension Provision change		7'1,000			71,000
Net (losses)/gains on investments		Q5.252)	ß2,425|	(87,6771	249 186
Netincome/(expenditure)	11	832,332	(62,425)		769,907	162,238
Transferbetweenfunds
Netmovement infunds		832,332	(62,425)		769,907	162,238
Fund balances broughtfon¡¡ard		11,114,765	1,108,651373,504		12,596,920	12,434,682
Fund balances carriedfon¡vard	19,20	11,947,097	1,046,226	373,504	13,366,827	12,596,920

dcotSchool ANCESHEET 31August2022
	Notes	2022 Ê	2021 I
FIXEDASSETS
Tangibleassets lnvestments	12 '13	12 1 ,093 .204 ,998 ,639	12,382,483 726 882 I
		14,637,297	14,'t09,365
CURRENTASSETS
Debtors	14	538,975	372,146
Cash atbank and in hand		4,433,793	3 575 79
		4,972,768	3,948,125
CREDITORS:Amounts fallingduewithinoneyear	15	(5,394,649)	(4,212,573)
NET CURRENT LIABILITIES		(421,8811(264,448|
TOTAL ASSETSLESSCURRENT LIABILITIES		14,215,416	13,844,917
CREDITORS:Amountsfalling due aftermore than one year	16	(821,589)	(1,125,997)
Netassets excluding pensionliability		13,393,827	12,718,920
Defined benefitpensionschemeliability	25	(27,000)	(122,000)
NETASSETS		13,366,827	12,596,920
FUNDS
Restrictedfunds	19	1,046,226	1,108,651
Unrestrictedfunds-general Endowmentfund	19 19	11,947,097 373,504	11,114,765 373,504
		13,366,827	12,596,920

idcotSchool HFLOW STATEMENT he vear ended31 Auqust2022
CASHFLOW STATEMENT	Notes	2022	2021
		Ê	e
Netcashinflowfrom operatingactivities	24	2,323,376	1,111,654
Cash flowsfrominvesting activities
Bank interest received		374
Dividends received Proceedsfromsaleofinvestments Payments to acquirefixedassets Paymentsto acquireinvestments		44,593 49g,298 (1,262,9691 (485,750)	51,564 402,104 (213,032) (378,735)
Net cash outflowfrominvesting activities		(1.205.363)(138,099)
Financing:
Loans repaid Capitalelementoffinance leaserental payments lnterestpaid		(134,377) (93,969) (31,853)	(135,415) (75,053) (22,81e)
Net cash outflowfrom financingactivities		(260.r99)	,287|
lncrease/(decrease)in cash		857,814	740,268
Cash andcashequivalents at the
beginning ofthe reportingperiod		3,575,979	2,835,711
Cash andcash equivalentsat the
end of thereportingperiod		4,433,793	3,575,979

FEE INCOME
TheSchool'sactivitiesarecarriedout withintheUK. Theschool'sfee income comprised:	2022 2	2021f
Grossfees	12,936,675	11,050,233
Less: Discounts,Scholarships andBursaries	(1,686,526)	(1,728,765)
	11,150,149	9,321,468

4	OTHER EDUCATIONAL INCOME
		2022 Ê	2021r
	Extras anddisbursements	441,422	283,638
	Registration fees	39,660	34,438
	Other income	367,266	253,275
		848,348	571,351
5	OTHERINCOME
		2022 Ê	2021t
	Rent and lettings Otherincome	88,855 92,481	143,260 21,279
		1!Ë99
6	INVESTMENT¡NCOME	2022	-1-64,53e- 2021
		Ê	Ê
	lnterestreceived	374	287
	Dividend income	44,583	51,564
		44,957	51,851

DONATIONSAND GRANTS
	2022	2021
	Ê	Ê
Donations andgifts	111,261	391,050
Governmentgrants		109,353
	111,261	500,403

8	EXPENDITURE
(a)	CostsofRaising Funds		Staffcosts			Total
			(note9) t	Other t	Depreciation Ê	2022 Ê
	Trading costs			6,581		6,591
	Financing costs			31,853		31,853
	Total CostsofRaising Funds			38,434		38,434
	Gharitable expenditure		Staffcosts			Total
			(note9)	Other	Depreciation	2022
			Ê	Ê		Ê
	Teaching Welfare		4,737,263	414,946 547,882	:	5,152,209 547,992
	PremisesandEstates			1,016,055	352,202	1,369,257
	Administration		2,826,157	1,209,735	294,460	4,330,352
	Governance			112,333		112,333
	Total Charitable Expenditure		7,563,420	3,300,951646662		11,511 033
	TotalExpended	:-:	7,563,420	3,339,385646,662		11,549,467
	GostsofRaising Funds	Staff costs				Total
			(note9) Ê	Other Ê	Depreciation f	2021 t
	Trading costs			6,769		6,769
	Financing costs			22 819		22,819
	Total CostsofRaising Funds			29,599		29,588
	Gharitable expenditure	Staff costs				Total
			(note9) r	Other â	Depreciation Ê	2021 f
	Teaching		4,756,632	285,211		5,041,843
	Welfare			449,722		449,722
	PremisesandEstates			1,001,442	346,605	1,348,047
	Administration		2,568,412	867,992	292,558	3,728,862
	Governance			98,498		98,498
	Total Charitable Expenditure		7,325,044	2,702,765	639,163	10,666,972
	TotalExpended	::::	7,325,044	2,732,353639,163		10,696,560
(b)	Other Governance Costs include				2022	2021
	Auditors'remuneration				Ê	Ê
	-AuditFees				13,250	10,830
	-AccountancyFees				2,950	12,378
	Legaland ProfessionalFees				87,081	86,157

9	STAFFCOSTS			2022	2021
				E	r.
	Wagesand salaries			6,179,270	5,796,210
	Social security costs			534,109	506,456
	Otherpensioncosts			801,996	983,727
	Otherstaffcosts			49,045	38,651
				7.563.420 _rc2þ,044
	Themonthlynumberofemployeesduringthe yearwasas follows:
		Average		FTE
		2022	2021	2022	2021
		No.	No.	No.	No.
	Teaching Domesticandmaintenance	114 62	107 61	85 45	87 45
	Administrationandsupport	50	76	22	23
		-__226-_--244-		-----152 -----155-

Thenumber ofemployeeswhose emoluments amounted	to overt60,000inthe yearwasas follows:
	2022	2021
	No	No.
Ê60,000-Ê70,000	2	5
Ê70,001-[80,000	3
Ê.120,001- Ê130,000		1
Ê130,001 - Ê140,000	1

NETINCOMEFOR THEYEAR
	2022	2021
	Ê	Ê
Netincomeisstated after charging:
Depreciation of tangiblefixedassets	646,662	639,163
Loanlnterest	3,649	7,726
Operatingleaserentals-other	53,194	8,135

		Plant	Fixtures
	Freehold	&	&	IT	Motor
	PropertyI	Equipment r	Fittings r	Equipment Ê	Vehicles â	Total Ê
Cost:
At1September2021	15,935,986	1,020,714	1,067,268	1,831,121	1,416,122	21,271,211
Additions	821,649	55,280	297,385	58,191	30,363	1,262,969
Disposals	(700)	(11,659)	(41,075)	(3s6,70e)	(25,422)	(475,565)
Transfer
At 31August2022	16,756,935	1,064,335	I 323,578	1,492,603	1,421,06322,058,514
Depreciation:
At1September2021	4,667,445	760,300	944,978	1,151,926	1,364,078	8,888,727
Chargeforyear	321,957	30,247	43,740	208,376	42,342	646,662
Disposals	(1e5)	(11,659)	(40,959)	(396,701)	(25,454)	(474,9681
Transfer
At 31August2022	4,989,207	778,888	947 759	963,601	1,380,9669,060 ,421
Netbookvalue:
At 31Augusl2022	11,767,728	285,447	375,819529,002		40,097 _12,998,093
At1September2021	11,268,541260,414		122,290	679,1 95	52,04412,382,484

2022 Ê	2021r
346,498	444,916

INVESTMENTS
	Sharesingroup Listed undertakingsinvestments Êr		Shares ingroup 2022undertakings Êt		Listed investments Ê	2021f
Cost/valuationAt1	l0l	1,726,781	1,726,882	101	1,228,407	1,228,508
September2021 Additions		485,948	485,948		757,470	757,470
Disposals Gains/(Losses)arising		(498,298) (75,328)	(498,298) (75,328)		(804,208) 545,112	(804,208) 545,112
from movementsin
valuations
Cost/valuationAt31	101	1,639,103	1,639,204	101	1,726,781	1,726ß82
August2022
UKfixed interest					132,400
UK equities					430,982	1,016,776
lnternational equities					640,444	639,310
Property					296,458
Alternativeassets					117,854
Cash					20,965	70,695
					1,639,103	1,726,781

DEBTORS
	2022	2021
	€	L
Fees andextras	'186,232	117,739
Lessprovisionfor doubtfuldebts Otherdebtors	(57,296) 13,320	(64,838) 102,326
Prepaymentsand accruedincome Amountduefromgroupundertaking	392,336 4,383	212,536 4,383
	538,975	372,146

r t	he vearended31 Auqust2022
15	CREDITORS	2022	2021
	Amountsfalling due within oneyear:	Ê	e
	Loans	46,639	139,494
	Trade creditors	790,827	341,073
	Taxation and social security costs	143,243	137,901
	Fee Deposits	269,561	134,251
	Feesinadvance	3,267,051	2,895,122
	Other creditors	204,166	188,897
	Accruals Amountspayable underfinanceleases	497,691 175,471	272,738 103,097
		5	4,212,573
	Deferred income	2022	2021
		Ê	Ê
	Broughtforwards	16,17'l	6,250
	Releasedinyear	(16,1711	(6,250)
	Receivedinyear	35,706	16,171
	Carriedforwards	__q5Jgg_	16,1V

CREDITORSDUEAFTERONEYEAR
	2022	2021
Amountsfallingdueaftermore than one year:	Ê	r
Bank loan		46,639
Amountspayable underfinanceleases	202,184	363,410
Schoolfeedeposits	619,405	715,948
	821,589	1.125.997
	2022	2021
Movement on loans	â	I
ln one yearorless	46,639	139,494
Between one and two years		46,639
	46,639	186,133
Movement onfinanceleases:	2022 Ê	2021r
ln one year or less	103,097	103,097
Between one and two years	103,097	103,097
Betweentwoandfiveyears	171,461	260,313
	377,655	466,507

18	FINANCIAL INSTRUMENT	S
							2022			2021
							€			Ê
	Carrying amount of financial assets
	Financialassets thatare equityinstrumentsmeasured			at cost lessimpairment			4,580,433		3,736,775
	Financialassetsmeasured	at fairvaluethroughprofit and			loss		1,639,204		1,726,882
	Carrying amount of financial !iabilities Measuredat amortisedcost						5,327,272		4,563,567
19	STATEMENT OFFUNDS Unrestrictedfunds	At1 September 2021t	lncomeI	Expendituret		Transfer Between Funds c	Gains/ (losses) Ê	At 31August 2022 Ê
	General reserve	11,114,765	12,269,676	(11,483,0e2)			45,748		11,947,097
	Restrictedfunds:
	William Normanbequest	453,712	27J64		(27,164)		(25,547)			428J65
	MaryBlaschko grant Named bursaryand	199,991 279,750	11,973 16,749		(11,e73) (16,749)		(11,261) (15,752)			188,730 263,998
	prizefunds
	McShaneLegacy	170,327	10,197		(10,197)		(9,5e1)			160,736
	Other restricted funds	4,871	292		(2s2)		(274)			4,597
	Total restricted	1,108,651 66,375			(66,375)		(62,425)1,046,226
	Endowmentfunds:	373,504								373,504
	Totalfunds	12,596,920	12,336.051	(11,549,467\ :-					13,366,827
		Ar1 September 2020 Ê	lncomeExpenditure ÊÊ			Transfer Between Funds î.	Gainsi (losses)f	At 31August 2021 Ê
	Unrestricted funds General reserve	11,088,004	10,197,562(10,284,510)				11 .1 70I		11	114 765
	Restrictedfunds:
	William Normanbequest	398,024	13,565		(13,565)		55,688			453,712
	MaryBlaschkogrant	175444	5979		(5,e7e)		24547			199,991
	Named bursaryand	245,414	8,364				34,336			279,750
	prizefunds McShane Legacy	149,421	5,092		(8,364) (5,092)		20,906			170,327
	Covid relieffund		332,918		(332,e18)
	Other restricted funds	4,871	46,132		(46,132)					4,871
	Total restricted	973,174 412,050(412,050)					135,4771,108,651
	Endowment funds	373,504								373,504
	Totalfunds	12,434,682	10,609,612(10,696,560)				249,186		12,596,920

ANALYSIS OFNETASSETS BETW	EENFUNDS
	Unrestricted	Restricted	Endowment	2022
	funds	funds	fund	Total
	t	t	Ê	€
Tangiblefixed assets	12,624,589		373,504	12,998,093
lnvestments	592,978	1,046,226		1,639,204
Currentassets	4,972,768			4,972,769
Current liabilities	(5,3e4,64e)			(5,394,649)
Longtermliabilities	(848,589)			(848,589)
Totalnetassets	JJ,s47,0e7	1,046,226	___9F,501_	l_g,3ggÉzz
	Unrestricted	Restricted	Endowment	2021
	funds Ê	funds î	fund Ê	Total Ê
Tangiblefixedassets	12,008,979		373,504	12,382,483
lnvestments	618,231	1,108,651		1,726,992
Currentassets	3,948,125			3,949,125
Current liabilities	(4,212,573)			(4,212,5731
Longtermliabilities	(1,247,997)			(1,247,9971
Totalnet assets	11,114,765	1,108,651373,504		12,596,920

	2022	2021
	Office	Office
	equipment	equipment
Due within oneyear	53,I94	8,135
Due between two andfiveyears	129,685	53,320
Dueaftermore than five years	4,478
	187,357	61,455

NOTESTO THE CASHFLOW STATEMENT
	2022	2021
Reconciliationofoperatingresulttonetcashinflow from	E	I
operating activities
Netmovementinfunds	769,907	162,238
Gainson investments	75,328	(272,556)
Depreciation	646,662	638,727
(profit)/losson disposal	597
Pensionfund	(24,199)
Pensionfund(gains)/loss	(71,000)
Bankinterestreceived	(3741
Dividendsreceived	(44,583)	(51,564)
lnterestpayable	3l,853	22,819
lncrease/(Decrease)in creditors	I,l06,014	613,670
(lncrease)/Decreaseindebtors	(166,829)	(1,680)
	2.323.376	_1_J1J,,654

			2.323.376	_1_J1J,,654
ANALYS¡S OF CHANGES INNETDEBT	At1 September 2021	Gashflows	Othernon' cash changes	At 31August 2022
Gashand cash equivalents Cash	3,575,979857,814			4,433,793
CashEquivalents	3,575,979857,814			4,433,793
Borrowings
Debt duewithinoneyear	(139,494)	92,855		(46,639)
Debt dueafterone year	(46,639)	46,639
Financeleases	(466,507)	103,097		(363,410)
	(652,640)242,591			(410,049)
Total	2,923,339	1,100,405		4,023,744

dcot School ESTO THE FINANCIAL STATEMENTS e vear ended31Auqust2022 PRESENT VALUESOF PROVISION
	31August	31August	31August
	2022	202'l	2020
	(Ês)	(Ês)	(€s)
Presentvalue ofprovision	26.854	121,722	154.868
RECONCILIATIONOFOPENING AND CLOSINGPROVISIONS
		Period	Period
		Ending	Ending
		31August	31August
		2022	2021
		(ts)	(Ês)
Provisionat start ofperiod		121,722	154,868
Unwindingof the discountfactor(interest expense)		689	752
Deficitcontributionpaid		(24,888)	(33,734)
Remeasurements-impact of anychangeinassumptions		(1,183)	(164)
Remeasurements- amendments tothe contributionschedule		(6e,486)
Provisionatendofperiod		26,854	121,722

INCOMEAND EXPENDITUREIMPACT
	Period	Period
	Ending	Ending
	31August	31August
	2022	2021
	(Ês)	(Ês)
lnterest expense	689	752
Remeasurements-impact of anychangein assumptions	(1,183)	(164)

ASSUMPTIONS
	3lAugust	3lAugust	3lAugust
	2022	2021	2020
	o/oPer	o/oPer	o/operannum
	annum	annum
Rateof discount	4.46	0.63	0.55

Year	ending	3lAugust 2022	31August 2021	31August 2020
Year	1	(ts) 11,687	(Ês) 34,746	(Ês) 33,734
Year	2	11,687	35,789	34,746
Year	3	4,870	36,863	35,789
Year	4		15,625	36,863
Year	5			15,625