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|CONTENTS|||Page|
|---|---|---|---|
|Directors, Officers and Advisers||||
|Report ofthe Directors|||4-10|
|Report ofthe Auditors|||11 - 13|
|Consolidated
Statement|of Financial|Activities|14|
|Consolidated
Balance Sheet|||15|
|Company
Balance Sheet|||16|
|Cash Flow Statement|||17|
|Notes to the Financial Statements|||18-25|
|Detailed
Profit and Loss|Account||Appendix|
##
|Directors ofthe Company
Governors
ofthe School|Directors ofthe Company
Governors
ofthe School|and|MrJ.Bueno||Appointed|01.09.2020|
|---|---|---|---|---|---|---|
||||Ms W-L Chua||Appointed|01.09.2020|
||||Mr W J Henderson-Deeves||Appointed|01.09.2020|
||||Mr JW Kerr||||
||||Dr C LMcShane||||
||||Mr M R Neil||||
||||Mrs C Phillips||||
||||Mr L Pytel||||
||||Mr K Reesby||||
||||Miss R Ross||||
||||Mr J A BSpeed
MrJ M PTaylor (Chair)||Appointed|24.11.2020|
||||Mr S D Taylor||||
|Company|Secretary||MrAG Law||||
|Headmaster|||Mr A K Perks
Mr D P Fitzgerald||Retired 31.08.2020
Appointed 01.09.2020||
|Registered|Office||Church
Hill House||||
||||Horsell, Woking||||
||||Surrey GU21 4QW||||
|Auditors|||HPCA Ltd||||
||||Chartered
Accountants||||
||||Station House, Connaught|Road|||
||||Brookwood GU24 OER||||
|Bankers|||Lloyds Bank pic||||
||||Woking GU1 3ZR||||
||||Barclays Bank pic||||
||||Woking
GU21 6AE||||
|Legal Advisers|||Veale Wasbrough
Bristol BS15WS||||
||||GBH Law Ltd||||
||||Elstead
GU8 6LB||||
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|Senior School Destinations|Senior School Destinations|2019/20||||||||
|---|---|---|---|---|---|---|---|---|---|
||||Year 6||Year 7|Year 8||Total||
|Charterhouse||||||||||
|Dumpton
School||||||||||
|Famborou
h Hill||||||||||
|Gordon's School||||||||||
|Hall Grove||||||||||
|Halliford School||||||||||
|Hampton
School||||||||||
|Heathfield,
Ascot||||||||||
|Hoe Valle||||||||||
|Kin
Edward's
School Witic||||||||||
|LVS Ascot||||||||||
|More House School||||||||||
|RGS Guildford||||||||||
|Salesian Colic e||||||||||
|Sir William
Perkins's||||||||||
|St. Edmund's
School||||||||||
|St.Geor e's Colic e||||||||||
|St. John's School,|Leatherhead|||||||||
|The International|School, E|t||||||||
|Wellin
on Calle|e|||||||||
|Wokin
Hi
h School||||||||||
|||||23|||14||39|
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||||||2020|2019|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total funds|Total funds|
||||fund|funds|||
|||Notes|f.|f|||
|INCOME AND ENDOWMENTS FROM
Donations
and legacies||2|4,687|11,749|16,436|50,537|
|Charitable
activities
Teaching||4|3,852,855||3,852,855|3,677,966|
|Investment
income|||557||557|2,288|
|Total|||3,858,099|11,749|3,869,848|3,730,791|
|EXPENDITURE ON|||||||
|Charitable
activities
Teaching
Household
Premises
School administration
Interest payable
Management
and Administration|||2,406,120
265,201
693,645
374,704
77,175
13,037||2,406,120
265,201
693,645
374,704
77,175
13,037|2,321,036
349,171
636,959
349,617
63,997
10,360|
|Total|||3,829,882||3,829,882|3,731,140|
|NET INCOME/(EXPENDITURE)|||28,217|11,749|39,966|(349)|
|Transfers between funds||18|11.749|~11.7491|||
|Net movement
in fends|||39,966||39,966|(349)|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought|forward||2,495,506||2495406|2495 855|
|TOTAL FUNDS CARRIED FORWARD|||2,535472|-|2535,472|2,495595|
##
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|Sheet
August 2020|||||||
|---|---|---|---|---|---|---|
||||||2020|2019|
|||Unrestricted|Restricted||Total funds|Total funds|
|||fund|funds||||
||Notes|f.|||||
|FIXEDASSETS
Tangle
assets
Investments|11
12|4,923,949
100|||4,923,949
100|4,986,580
100|
|||4,924,049|||4,924,049|4,986,680|
|CURRENT ASSETS
Debtors
Cash at bank and in hand|13|111,353
310,265|||111,353
310,265|99,252
311,620|
|||421,618|||421,618|410,872|
|CREDITORS
Amounts
falling due within one year|14|(548,084)|||(548084)|(568546)|
|NET CURRENT ASSETS/(LIABILITIES)||(126,466)|||~226.4663|~157.6747|
|TOTAL ASSETSLESSCURRENT
LIABILITIES||4,797,583|||4,797,583|4,829,006|
|CREDITORS
Amounts
falling due after more than one year|15|(2,262,111)|||(2,262,111)|(2,333,500)|
|NET ASSETS||2,535 472||—|2,535,472|2,495.506|
|FUNDS
Unrestricted
funds|18||||2835,472|2,495,506|
|Restricted funds|||||||
|TOTAL FUNDS|||||2,535,472|2,495,506|
##
##
|w Statement
year ended 31 August 2020||||||
|---|---|---|---|---|---|
|||||2020|2019|
||||Notes|f||
|Cash flows from operabng activities:
Cash generated
from operations
Interest paid||||185,257
~77.)75)|216,283
~63.997)|
|Net cash provided
by (used in) operating
activities||||108,082|152286|
|Cash flows from investing
activities:||||||
|Purchase oftangible
fixed assets
Interest received||||(109,994)
557|(3,798,163)
2,288|
|Loan received|||||2,200,000|
|Net cash provided
by (used in) investing||||(109,437)|(1395,875)|
|activities||||||
|Change in cash and cash eqmvalents
reporting
period|in the|||(1,355)|(1,443,589)|
|Cash and cash equivalents
at the beginning
the reporting
period||of||311,620|1,755,209|
|Cash and cash equivalents
at the end
reporting
period|ofthe|||310.265|311.620|
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|RECONCILIATION OFNET INCOME/(
AC~|EXPENDITURE)
TONET CASH F|LOW FROM O|PERATING|
|---|---|---|---|
|||2020|2019|
||||f.|
|Net income/(expenditure)
for the reporting
offlnancial activities)|period (as per the statement|39,966|(349)|
|Adjustments
for:
Depreciation
charges
Loss on disposal offixed assets
Interest received||172,625
(557)|75,112
32,840
(2,288)|
|Interest paid
Increase in debtors
(Decrease)/increase
in creditors||77,175
(12,101)
~91,851)|63,997
(48,240)
95,211|
|Net cash provided
by (used in) operating|activities|185,257|216,283|
|ANALYSIS OF CHANGES IN NET DEBT
At 1.9.19||Cash flow
f|At 31.8.20|
|Net cash
Cash at bank and in hand|311,620|(1,355)|310,265|
|Debt
Debts falling due within one year
Debts falling due after one year|)2.200.)20)|(71,739)
71,739|(71,739)
(2,128,261)|
||~2.2$l.000)||(2,200,000)|
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|Depreciation
is prov|ided
at the follow|ided
at the follow|ing
annual rates in order to write off|
|---|---|---|---|
|Interest in freehold|buiilding||-2%on cost|
|Buildings
on leasehold||land|—Straight line over 10years|
|Fixtures and fittings|||—20% on cost|
|Motor vehicles|||-25% on cost|
##
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|DONATIONS
AND LEGACIES|||
|---|---|---|
||2020|2019|
|||f.|
|Donations|16,436|50,537|
|INVESTMENT INCOME|||
||2020|2019|
||f||
|Deposit account interest|557|2.288|
##
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|INCOME FROM CHARITA|BLEAC~S|||
|---|---|---|---|
|||2020|2019|
||Activity|8||
|School fees, clubs, trips and
recharges
Other|Teaching
Teaching|3,692,424
160,431|3,657,966
20,000|
|||3,852.833|3,677.966|
##
|||Direct costs|Supportcosts|Totals|
|---|---|---|---|---|
||||(Seenote 6)||
|Teaching
Household||2,406, 120
265,201||2,406,120
265,201|
|Premises||693,645||693,645|
|School administration||373,912|792|374,704|
|Interest payable
Management
and Administration||77,175
4,637|8,400|77,175
13,037|
|||3,820,690|9,392|3.829.882|
##
|SUPPORT|COSTS||
|---|---|---|
|||Governance|
|||costsf|
|School administration
Management
and Administration||792
8,400|
|||9,192|
##
##
|Net income/(expenditure)
is stated after char~ J(crediting):|||
|---|---|---|
||2020|2019|
||f|f|
|Auditors'
remuneration
Depreciation
—owned assets
Deficit on disposal offixed asset|8,400
172,625|6,570
75,112
32,840|
##
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##
|There were no trustees
31August 2019.|'
rem|uneration
or othe|r benefits for the ye|ar ended|31 Augus|t 2020 nor for t|e year ended|
|---|---|---|---|---|---|---|---|
|Trustees'
expenses||||||2020|2019|
|Trustees'expenses||||||792|790|
|STAFF COSTS||||||2020|2019
f|
|Wages and salaries||||||2,635.775|2.523,228|
|The average monthly|number ofemployees||during the year was|as follows:||||
|||||||2020|2019|
|Teaching Staff
Premises
Administration||||||61
2
8|63
2
7|
|||||||71|72|
|The number ofemployees||whose employee|benefits (excluding|employer|pension|costs) exceeded
2020|f60,000was:
2019|
|||||||2|1|
|||||||1||
|||||||1|1|
##
##
|||Unrestricted|Restricted|Total funds|
|---|---|---|---|---|
|||fund|funds||
|||f|||
|INCOME
Donations|AND ENDOWS FROM
and legacies||50,537|50,537|
|Charitable
Teaching|activities|3,677,966||3,677,966|
|Investment|income|2,288||2,288|
|Ttl||3,680,254|50,537|3,730,791|
##
##
##
|10.|COMPARATIVES F|OR THE STATEMEN|T OF FIN|ANCIA|LC~|-continued||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total funds|
||||||fund|funds||
||EXPENDITURE ON|||||||
||Charitable
activities|||||||
||Teaching||||2,321,036||2,321,036|
||Household||||349,171||349,171|
||Premises||||636,959||636,959|
||School administration||||349,617||349,617|
||Interest payable||||63,997||63,997|
||Management
and Administration||||10,360||10,360|
||Total||||3,731,140||3,731,140|
||NET INCOME/(EXPEND~)||||(50,886)|50,537|(349)|
||Transfers between funds||||50537|~50.5373||
||Net movement
in funds||||(349)||(349)|
||RECONCILIATION|OF FUNDS||||||
||Total funds brought forward||||2,495,855||2,495,855|
||TOTAL FUNDS CARRIED FORWARD||||2,495,506||2,495,506|
|11.|TANGIBLE FIXEDASSETS|||||||
|||Interest in||||||
|||freehold|Buildings|on|Fixtures and|||
|||building|leasehold|land|fittings|Motor|Totals|
|||||||vehicles||
||COST|||||||
||At 1 September 2019
Additions|405,713|5,382,222
84,127||608,465
25,867|82,728|6,479,128
109,994|
||At 31August 2020|405,713|5,466,349||634,332|82728|6589 122|
||DEPRECIATION|||||||
||At 1 September 2019
Charge for year|120,700
6,600|973,130
124,480||315,990
41,545|82728|1492548
172,625|
||At 31August 2020|127,300|1,097,610||357,535|82,728|1,665,173|
||NET BOOK VALUE
At 31August 2020|278,413|4,368,739||276,797||4,923,949|
||At 31August 2019|285.033|4,409,092||292,475||4,986,580|
##
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|Nature ofbusiness: Holding
freehold|property|
|---|---|
||9o|
|Class of share;|holding|
|Ordinary|100|
|Ordinary||1|00|||
|---|---|---|---|---|---|
|||||2020
f|2019
f|
|Aggregate
capital and reserves||||100|100|
|The subsidiary
company
holds the legal title to the Charitable|||company's|freehold property,
North|Lodge, and is|
|dormant.||||||
|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR||||2020|2019|
|||||f||
|Expenditure
incurred
on behalf ofpupils
Other debtors and prepayments|and outstanding|fees||57,113
54,240|34,167
65,085|
|||||111,353|99,252|
|CREDITORSt AMOUNTS FALLING|DUE WITHIN|ONE YEAR||||
|||||2020|2019|
|||||f||
|Bank loans and overdrafts
(see note 16)
Fees received in advance
Social security
and other taxes
Trade creditors
and accruals||||71,739
323,036
55,082
~98 227|394,783
58,934
114,829|
|||||548,084|568,546|
##
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|5.|CRED1TORSi AMOUNTS FALLING DUE AF|TER MO|RE THAN ONE YEAR||
|---|---|---|---|---|
||||2020|2019|
||Bank loans (see note 16)
Fee deposits repayable
in the pupils' last year
Amounts
owed to group undertakings||2,128,261
133,750
100|2,200,000
133,400
100|
||||2.262,111|2,333.5t31|
||The bank loan is secured on property belon~g to|the school.|||
||The bank loan will be repaid over a number ofyears.
f||||
||Due within
one year
71,739||||
||Due within 2-5 years
286,960||||
||Due within more than 5 years
1,745,649||||
|16.|LOANS||||
||An analysis ofthe maturity
ofloans is given below:||||
||||2020|2019|
||Amounts
falling due within one year on demand:
Bank loans||71,739||
||Amounts
falling between
one and two years:
Bank loans - 1-2 years||95,652||
||Amounts
falling due between two and five years:
Bank loans
—2-5 years||286,960|286,960|
||Amounts
falling due in more than five years:||||
||Repayable by instalments:
Bank loans more 5 yr by instal||1.745.649|1.913.040|
|17.|LEASING AGREEMENTS||||
||Minimum
lease payments
under non-cancellable|operating|leases fall due as follows:||
||||2020|2019|
||||f||
||Within one year
Between one and five years
In more than five years||230,000
920,000
4,830,000|230,000
920,000
5,060,000|
||||5.980,000|6.210.000|
##
##
##
|MOVEMENT IN FUNDS||||||
|---|---|---|---|---|---|
||||Net movement|Transfers||
|||At 1.9.19|in funds|between
funds|At.31.8.20|
||||f|||
|Unrestricted
funds||||||
|General fund||2,495,506|28,217|11,749|2,535,472|
|Restricted funds||||||
|FOSA donations
Swop Shop donation|||6,000
5.749|(6,000)
~5.749)||
||||11,749|(11,749)||
|TOTAL FUNDS||2,495,506|39,966||2,535.472|
|Net movement
in funds, included||in the above are as follows:||||
||||Incoming|Resources|Movement
in|
||||resources
f|expended|funds
f|
|Unrestricted
funds
General fund|||3,858,099|(3,829,882)|28,217|
|Restricted funds
FOSA donations
Swop Shop donation|||6,000
5,749||6,000
5,749|
||||11,749||11,749|
|TOTAL FUNDS|||3869848|63829882)|39966|
|Comparatives
for movement|in|funds|Net movement|Transfers||
|||At 1.9.18
f|in funds
f|between
funds|At 31.8.19
f|
|Unrestricted
Funds
General fund||2495 855|(50886)
50,537||2,495,506|
|Restricted Funds||||||
|FOSA donations|||50,537|(50,537)||
|TOTAL FUNDS||||||
##
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##
|Comparative
net movement
in funds, include|d
in the above are as follows:|||
|---|---|---|---|
||Incoming|Resources|Movement
tn|
||resources
f|expended
f|funds|
|Unrestricted
funds||||
|General fund|3,680,254|(3,731,140)|(50,886)|
|Restricted funds
FOSA donations|50,537||50,537|
|TOTAL FUNDS||||
|A current year 12 months
and prior|year 12 months
combined
|position is as follo|ws:|ws:||
|---|---|---|---|---|---|
|||Net movement|Transfers|||
||At 1.9.19|in funds
f|between|funds
f|At 31.8.20|
|Unrestricted
funds
General fund|2,495,855|(22,669)||62,286|2,535,472|
|Restricted funds
FOSA donations
Swop Shop donation||56,537
5 749||(56,537)
(5,749)||
|||62,286|~62,2863|||
|TOTAL FUNDS|2.495,855|39.617|||2.535,472|
|A current year 12months
and prior year 12
as follows:|months
combined
net movement
in fu|nds, included
|n the above are|
|---|---|---|---|
||Incoming|Resources|Movement
in|
||resources|expended|funds|
|Unrestricted
funds
General fund|7,538,353|(7,561,022)|(22,669)|
|Restricted funds
FOSA donations
Swop Shop donation|56,537
5,749||56,537
5,749|
||62,286||62,286|
|TOTALFUNDS|7,600.639|47561.0223|39617|
##