**Company No. 226143** ## **BRYANSTON SCHOOL** (formerly Bryanston School Incorporated) ## **REPORT OF THE GOVERNORS, STRATEGIC REPORT AND** ## **CONSOLIDATED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 AUGUST 2023** ## **BRYANSTON SCHOOL** ## **INDEX TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2023** ||**Page**| |---|---| |**Company Information**|**1**| |**Report of the Governors (including Strategic Report)**|
**3**| |**Consolidated Statement of Financial Activities**|**15**| |**Balance Sheets**|**16**| |**Consolidated Statement of Cash Flows**|**17**| |**Notes to the Consolidated Financial Statements**|**18**| |**Report of the Independent Auditors**|**33**| ## **BRYANSTON SCHOOL** **COMPANY INFORMATION for the year ended 31 August 2023** ## **KEY MANAGEMENT PERSONNEL:** |**Governors:**|J R Greenhill, MA, KC - Chairman| |---|---| ||N Bickford - Vice Chairman| ||P D Barnett FCA (Appointed November 2023)| ||E R Benedict (Appointed February 2024)| ||B Broad| ||A W Browning (Resigned October 2023)| ||S O Conran| ||J A F Fortescue, BA| ||S Foulser, BA (Resigned August 2023)| ||M Laurence (Resigned July 2023)| ||C G Martin, MA, ACA| ||M E McKeown, BA, Msc| ||H M Pharaoh, MBBS,DRCOG,MRCGP,DFSRH (Resigned August 2023)| ||J E Roderick (Appointed May 2023)| ||L M V Soden, BA (Hons), MA| ||R W Swallow| ||D M Trick (Resigned August 2023)| |**Company Secretary:**|N J Dodd| |**Head:**|R G Jones| |**REGISTERED OFFICE:**|Bryanston School| ||Blandford Forum| ||DT11 0PX| |**REGISTERED COMPANY**|| |**NUMBER:**|226143 (England and Wales)| |**REGISTERED CHARITY**|| |**NUMBER:**|306210| Page 1 ## **BRYANSTON SCHOOL** ## **COMPANY INFORMATION for the year ended 31 August 2023** **AUDITORS:** Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG **BANKERS:** HSBC Bank plc 17 Market Place Blandford Forum DT11 7AG **SOLICITORS:** Steele Raymond Richmond Point 43 Richmond Hill Bournemouth BH2 6LR Farrer and Co 66 Lincoln’s Inn Fields London WC2A 3LH **INSURANCE BROKERS:** A J Gallagher 8 Albany Park Cabot Lane Poole Dorset BH17 7AZ Page 2 ## **BRYANSTON SCHOOL** ## **REPORT OF THE GOVERNORS** ## **for the year ended 31 August 2023** The governors present their Annual Report, which includes their Strategic Report, and the audited consolidated financial statements of the charity and its subsidiary for the year ended 31 August 2023. The financial statements are prepared in accordance with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, the Charities SORP (FRS 102) (Second edition). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governors** The governors are also the directors for the purpose of company law and trustees for the purpose of charity law. The governors of the company in office on 31 August 2023 were as shown on page 1, all served throughout the year and to the date of this report except where indicated. The governors are the members of the company and constitute together the Council of Management. All governors give their time freely and did not receive remuneration during the year. Details of any reimbursed travel and accommodation expenses are disclosed in note 6 to the accounts. Under Article 16 the governors retire by rotation after holding office for three years and are eligible for re-appointment. Governors holding office prior to the adoption of the new articles, in November 2023, are eligible for re-appointment providing their total term does not exceed 12 years. Governors appointed after the adoption date are eligible for reappointment twice. The following are due to retire by rotation at the forthcoming AGM and other than indicated are eligible for re-election: - S O Conran (retiring) - J A F Fortescue - M E McKeown - L M V Soden, ## **Governing Document** The company was incorporated in 1927, and is governed by its Articles of Association, last altered by Special Resolution on 25 November 2023. The most recent update included a change of name from Bryanston School Incorporated to Bryanston School. ## **Recruitment and Training of Governors** The Governance and Nominations Committee considers the strength and balance of expertise within the Governing Body and makes recommendations from time to time to the Council of Management, most obviously at the Annual General Meeting, as to the recruitment of new governors. When recruiting new governors an important attribute is a passion for the work of the school, believing that education should impart a real sense of meaning and purpose and develop open and enquiring minds. Upon appointment, new governors are invited to spend a day at School, to meet staff and explore current issues. They also undertake specific training modules for their induction to the Governing Body. Individual Governors attended a total of one external training days during the year and collectively the Governors attended a facilitated strategy day. ## **Organisational management** The Council of Management meets three times a year at Bryanston. A number of committees support the work of the Council of Management. The senior committee is the Finance and General Purposes Committee which meets each term, some three to four weeks ahead of the Council of Management meetings. Other long-standing committees are the People Committee, the Child Protection Advisory Committee, the Risk Committee, the Health and Safety Committee, the Education Committee, the Customer Committee, the Governance and Nominations Committee, and the Development & Foundation Committee which each meet two to three times a year. Page 3 ## **BRYANSTON SCHOOL** ## **REPORT OF THE GOVERNORS for the year ended 31 August 2023** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)** ## **Key Management Personnel** The day-to-day running of the School is devolved to the Head, supported by the Chief Operating Officer and the Executive Committee. The pay of Key Management Personnel is reviewed annually by the Governors, who consider changes in average earnings and to the extent that data is available, benchmarks in the independent education sector. ## **Group structure and relationships** The School has a wholly owned trading subsidiary company whose principal activities include the provision of courses during Bryanston School’s holiday periods and the operation of retail shops and a theatre. The trading performance of the subsidiary is dealt with below. The School controls a charitable foundation whose principal objective is to provide items, services and facilities for the pupils of the School, which advance the purposes of the School. ## **OBJECTS AND AIMS** ## **Charitable objects** The Charity’s object, as set out in the Articles of Association is _“to advance the education of boys and girls by the provision of a day and boarding school in or near Blandford Forum, Dorset and by other incidental and ancillary educational activities and other associated activities for the benefit of the community.”_ ## **Aims and intended impact** The School provides boarding and day education to children between the ages of 3 and 19; it also runs a number of holiday educational courses and educational community-based activities. The School’s policy is for its pupils to attain the highest academic standards as well as providing an extra-curricular programme which aims to develop life-long leisure interests and helps build self-confidence and a desire to contribute to the community. We value creativity, individuality and variety and we want our young people to fulfil their talents wherever they lie. At the same time, we seek to nurture integrity, responsibility, compassion, and self-discipline within the context of the demands set by the lively school community. The importance of family is never underestimated at Bryanston and one will often hear mention of the “Bryanston Family”. Children learn to be part of a community and support one another during their time at school; friendships forged here evolve, deepen, and very often last a lifetime. Bryanstonians are encouraged to be creative, energetic, and participative; being tolerant of other people’s views whilst able to articulate their own; to be keen to do well and have a sense of what matters. Bryanston is not just a five-year experience; instead, pupils and their parents all become life members of “Beyond Bryanston”, a family that continues to support each other, in practical ways through a thriving career mentoring network, where members are willing to give their time freely. ## **Objectives** Our objectives are set to reflect the aims and ethos of the School. It is important to us that we maintain and enhance the academic success of the School but also the academic achievements of each individual pupil. The School encourages pupils to be active learners by giving them a depth of experience that stimulates interest, creativity, and hope. In setting our objectives and planning our activity the governors have given regard to the Charity Commission’s guidance on public benefit and to its supplementary public benefit guidance on advancing education and on fee charging. Page 4 ## **BRYANSTON SCHOOL** ## **REPORT OF THE GOVERNORS for the year ended 31 August 2023** ## **ETHOS STRATEGY AND POLICIES** Bryanston is a school which rejoices in its motto: _et nova et vetera_ . We are a young enough school to have a crystalclear vision of our direction and values, much of them described by our founder in 1928, and these imbue all we do here. We live by our values that reflect our commitment to individuality, which lies at the heart of our approach and culture. This is evident in our people, along with a specific kind of creativity that inspires innovative thinking and challenge across all disciplines. https://www.bryanston.co.uk/_site/data/files/files/Our%20values.pdf Our distinctive values speak to the open-minded, challenging, and inspiring nature of the Bryanston experience, our humanity and our pupils who are curious, self-reliant, and purposeful. Beyond the School, Bryanston embraces educational, cultural, and social initiatives. Bryanston has a distinctive approach to education which encourages, enables, and supports pupils on their journey. We are ambitious for every pupil. We see creativity as a practical and essential element in thinking across all disciplines, which makes Bryanston a very different learning experience. Our approach is firmly focused on the individual and we work tirelessly to ensure that each pupil not only achieves the results they deserve, but also learns to think independently, be self-reliant and explore new interests – they often surprise us and themselves. Bryanston has a unique culture which celebrates the individual and their unbounded potential. We are proud to be different. We don’t ‘do education’ to our pupils, we travel beside them and guide them on their journey. We see the experience at school as a collective endeavour to better prepare our pupils for their lives ahead. Bryanston is an open minded, challenging, and inspiring environment for personal growth, where we provide the space for pupils to find their own passions. The breadth of our offer reflects the range of pupils’ interest, beyond the conventional to the creative, practical, and vocational, including focus areas where we specialise and offer support. The School recognises its responsibility to safeguard and promote the welfare of its pupils and expects all staff and volunteers to be committed to share this responsibility, which encompasses: - Protecting children from maltreatment - Preventing impairment of children’s health or development - Ensuring that children grow up in circumstances consistent with the provision of safe and effective care - Taking action to enable all children to have the best life chances. ## **Access policy** Our fees are set at a level to ensure the financial viability of the school and to enable us to continue to provide the highest quality education to all our pupils. It is important to us that access to the education we offer is not restricted only to those who can afford our fees and the school welcomes and encourages pupils from all backgrounds and of all financial means. We believe our pupils benefit from learning within a diverse community. A great deal of learning occurs through social interaction, conversation and shared experience which helps our pupils develop an understanding of the perspectives of other people that will be vital in their adult lives. ## **Bursary policy** The governors view our bursary awards as important in both fulfilling our charitable objectives and helping pupils who wish to come to our school, but whose families would find it impossible to pay the full fees. The allocation of such awards is dependent on an independent assessment of parental means first through the completion by parents of a Statement of Financial Circumstances form and then by interview. Recommendations from the independent reviews are then further considered by the Head and Finance Director. Awards may also be made to relieve hardship where a pupil’s education and prospects would otherwise be at risk; in such circumstances, parents will again be asked to complete a Statement of Financial Circumstances form. In assessing means we take several factors into consideration including family income and expenditure, assets, and liabilities, known family circumstances, the parents’ ability to improve financial circumstances or earning capacity and opportunities to release capital. Awards are also dependent on the School’s limited resources. The School receives some income for bursaries from its charitable foundation. Page 5 ## **BRYANSTON SCHOOL** ## **REPORT OF THE GOVERNORS for the year ended 31 August 2023** ## **ETHOS STRATEGY AND POLICIES (continued)** The School respects the confidentiality of individual bursary awards and hopes parents and pupils will also do so. In order that the limited funds can be focused where there is greatest need, parents whose children are in receipt of a bursary are requested to bring to the attention of the Finance Director any material improvement in circumstances, but in any event the School retains the right to review awards on an annual or termly basis. The criteria for a bursary, in addition to financial need are: - that the prospective pupil will fulfil the academic requirements for the appropriate year of entry - that the prospective pupil will engage in the whole life of the School - that the parents, the prospective pupil, and the Head agree that attendance at the School will be a positive experience for the pupil. The bursary awards range from 5% to 100% remission of fees, but the School also recognises that additional costs will be incurred by pupils to pay for extra/co-curricular activities, equipment, and trips - and therefore discretionary awards are made by the Head ensuring all pupils can benefit from the full educational experience on offer. Information about bursaries is provided to all applicants and is also available on our website. Certain 100% bursaries are also advertised in the local press. ## **Family discount policy** The School recognises the importance of family and welcomes siblings. As a policy the School does not offer an automatic family discount, but instead will focus support on need in accordance with our stated bursary policy. ## **Scholarship policy** The purpose of a scholarship is to recognise talent. Scholarships may attract a financial award up to a maximum of 10%, but any scholarship may be supplemented by a bursary awarded in accordance with the bursary policy. Scholarships are available for junior and sixth form entry. Scholars are expected to be ambassadors for their specialism and contribute actively to the overall life of the School. Scholarships are offered in the following areas: - Academic - recognising high academic potential. - Art - for pupils who show exceptional ability and promise in painting, drawing or three-dimensional work. - Design Technology - for candidates who show a real interest in design and have sound practical skills. - Computer Science - where pupils can demonstrate a good level of ability in a wide range of IT initiatives. - Music - for enthusiastic candidates who show considerable potential. - Sports - for pupils with not only sporting ability, but also good temperament, motivation, and leadership skills. - Performing Arts - for enthusiastic candidates who show considerable potential. - All-rounder - recognising candidates who possess the talent and personal qualities to make a significant ongoing contribution to the quality of school life. Scholarships are advertised on our website. ## **Employees** Arrangements exist to keep all employees informed on matters of concern to them and information on the School’s performance and prospects is disseminated widely. ## **Employment of people with disabilities** It is the School’s policy that people with disabilities should have the same consideration as others with respect to recruitment, retention, and personal development. Depending on their skills and abilities, they enjoy the same career prospects as other employees and the same scope for realising potential. Page 6 ## **BRYANSTON SCHOOL** ## **REPORT OF THE GOVERNORS** ## **for the year ended 31 August 2023** ## **REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR (continued)** 2022/23 was a year with numerous achievements and reasons to be proud. Pupil numbers remained strong throughout the year averaging 684 in the senior school and 119 in the prep school. During the year Bryanston introduced the four pillars into our strategic mission statement. ## **Sport and Wellbeing** Our mission for sport is straightforward yet powerful: to cultivate a sense of belonging and develop a ‘Team First’ culture. Our ultimate goal is to install healthy lifestyle behaviours and a genuine passion for sport – a mindset and passion that our students will carry into adulthood. A whole-school approach to mental health and wellbeing involves the whole school community working together to build and embed processes and strategies to develop wellbeing for pupils. Mental health and wellbeing become part of the fabric of the school, and its culture and ethos. ## **Creative and Performing Arts** Combines the power of belief with imagination. They forge pathways into undiscovered worlds and empathy-coloured landscapes. At Bryanston, we teach pupils how to develop their talents and join them under collective creative visions. Learning to empathise, communicate effectively, and collaborate is an essential part of being a performer. ## **Digital World** At Bryanston we embrace the digital now and allow it to stream into nearly all areas of school life. This does not just mean emails and proficiency in Microsoft Office; we encourage students to use technology to innovate and pioneer their visions as they move forward towards a more digital future. Whether a student’s passion is athletic, academic, or even agricultural, Bryanston aims to help students understand the value of technology in the evolving digital world. Our approach to digital education is interdisciplinary. We understand that technology can be used to develop pupil’s imaginations, critical thinking skills and creative pursuits. Our cross curriculum, approach means that when pupils leave Bryanston, they are ready to enter a world where technology is vital in virtually every industry. ## **Innovation and Entrepreneurship** As more and more pupils begin to engage with the commercial world, we want them to do so with foresight and social consciousness at heart. Through imagination and innovation, our students not only discover what lights their fire, but also how their passions and visions can become pathways to entrepreneurial futures. By supporting student enterprises, we encourage them to take their ideas, develop them into products or models, and build their entrepreneurial portfolios. Entrepreneurship should not solely be about fiscal gain. True entrepreneurship is about bringing innovation to the places that need it. We enable students to be bold, to be change-makers, understanding that they hold the power to lead the way when it comes to innovation. As entrepreneurship evolves further at Bryanston, we will encourage pupils across every sector of Bryanston life to engage with entrepreneurship on some level. ## **Academic Achievements** The summer of 2023 saw Bryanston record six out of ten grades awarded the top marks of A*, A or B and 80% securing their first choice of university place. Our IB pupils had another good year, with 81% of grades achieved 35 points or above. Our IB Diploma pupils received an average score of 36 points, equivalent to A*AA at A level. Leavers’ destinations included Cambridge, Bristol, Durham, Edinburgh and Exeter – to name just a few. The departing A2 year group will also go on to continue their studies at Music Conservatoires, Art Schools and J.P. Morgan degree apprenticeships, the last of which emphasises the growing interest in alternative pathways amongst our Sixth Formers. Several A2 leavers are going on to study further afield, attending overseas universities in Switzerland and various US colleges, truly reflecting the extensive Bryanston community. Page 7 ## **BRYANSTON SCHOOL** ## **REPORT OF THE GOVERNORS** ## **for the year ended 31 August 2023** ## **REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR (continued)** This year’s GCSE pupils achieved an excellent set of results, over 1 in 5 of all grades were awarded 8s and 9s, with 1 in 3 of all grades being above a 7. Our GCSE pupils continued to challenge themselves by gaining new qualifications and learning new skills throughout the academic year. Qualifications included: Bronze Duke of Edinburgh, ESB Public Speaking, NPLQ Lifeguarding and RFU rugby coaching. Underpinning all our academic achievements is ‘The Bryanston Method’. Our distinctive approach to education with oneto-one tutoring, ensures that pupils are given the level of structure and support appropriate to their specific year group, be that emotional, pastoral, or academic. With Bryanston Prep now following the well-established Bryanston Method, one-to-one tutoring starts in Year 6, enabling us to begin to equip our pupils from an early age with the skills they need to become independent learners. All Bryanston Prep pupils are now using Apple Macs and iPads in classrooms, and Apple TVs have replaced all former screens, continuing to build on our digital pillar. ## **Academic Enrichment** Bryanston is a place where children light their fire, find their magic and learn to love their minds. There is no Bryanston ‘type’ – we want our pupils to think for themselves. Alongside high academic standards and expectations, we provide an emotionally and intellectually supportive environment, allowing pupils to develop independent, creative, and unbounded thinking. In January 2023 we welcomed Poet Laureate Simon Armitage to Bryanston. Gaining a new generation of admirers, Simon ran a workshop for the B year group on GCSE poet Ted Hughes, and then delivered a poetry workshop for the A3/IB1 English cohort and ended the day with a reading to some of our sixth form pupils. In February 2023, we proudly participated in Children’s Mental Health Week, a nationwide initiative that emphasises the significance of healthy connections for children’s mental wellbeing. To commemorate this important event, the School organised a series of engaging activities aimed at fostering relationships and combating social anxiety among pupils. In March 2023, Bryanston organised its first 21[st] Century Parenting Conference – Inspired Thinking for the Modern Parent. Designed to provide parents with the knowledge and practical advice they need to navigate the complexities of parenting in the modern age, the conference hosted speakers and experts in child psychology, mental health, social and technological influences, behavioural science, and nutrition who delivered seminars and workshops to inspire the modern-day parent. The event concluded with a panel, made up of the experts with a Q&A with the parents who engaged with the topics of the day. Also in March 2023, fourteen pupils from D to A3 travelled to Salisbury to take part in the annual Salisbury Classical Association Reading Competition. Overall, Bryanston claimed eleven first prizes and four second prizes. The Education Summit returned in June 2023, welcoming hundreds of delegates to Bryanston for an unmissable day of teacher CPD, for open-minded educators in an ever-changing world. The theme – ‘Putting pupils at the heart of a changing world’ – focused on addressing some of the biggest issues facing pupils, parents, and teachers today. Presentations focused on the challenges and opportunities for providing children with transferable skills and qualities to achieve fulfilment in an ever-changing society and workplace. Our pupil-led Green Committee concentrated their efforts in the Spring term on Bryanston’s Eco-week, which focused on waste and sustainability. Page 8 ## **BRYANSTON SCHOOL** ## **REPORT OF THE GOVERNORS** **for the year ended 31 August 2023** ## **REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR (continued)** ## **Sporting Achievements** We have celebrated a number of notable team and individual success stories over the past academic year. January 2023, saw the 1[st] XI Girls’ Hockey team progress to the National Quarter Final. In February 2023, the 1[st] X1 Boys’ Football team reached the semi-finals of the U19 Dorset Schools Cup. The 1[st] XV rugby team had an impressive winning streak winning all of their 12 matches. The best set of results since 2006. In March 2023, our dancers were involved in a ‘Dance Live Competition’ and competed against 65 other schools from across the country. Our dancers showcased choreographed routines to the backdrop of a giant digital screen and achieved brilliant success. Our Outdoor Education programme over the Easter holidays offered a varied and exciting array of activities. Four groups of A3 pupils travelled to the Brecon Beacons for their Gold DofE and twelve pupils took part in the 61[st] Ten Tors event in Dartmoor with the C year group team travelling 35 miles and the A3 year group team travelling 45 miles. May 2023, saw Bryanston introduce its Sports Advisory Board. The objective is to help raise the bar for young sportsmen and women. Former junior All-Black and Cardiff Blues back rower, Nick Williams has been confirmed as the School’s new Head of Rugby. Former England captain and RFU Council and Board member, Phil de Glanville, and the highly respected former Sri-Lanka Test cricketer, Kumar Sangakarra have also joined the advisory board. Rosie and Mollie Kmita joined the advisory board after the year end. Rosie and Mollie are identical twins and ex-professional footballers turned broadcasters. Rosie became the first ever women of Asian heritage to sign a professional contract for West Ham in 2019. They host the Women’s Championship show weekly, as well as Sky Sports Show ‘The Dub’ in partnership with Snapchat. Mollie regularly presents for MUTV and they have appeared on BBC’s Match of the Day, as well as working with other high profile names such as TalkSPORT. These new appointments follow the arrival of Rory McCann as Bryanston’s Director of Sport. ## **Music and Performing Arts** BryRadio, the School’s internet-based radio station continues its success. Based in the Music School, the state-of-the-art station plays pupil and staff selected music, alongside a wide array of recorded jingles, 24-hours-a-day. The pupil-led radio programme offers interviews, debates, Bryanston news, weather, local traffic, sports, drama, music and live lounges, and the station is played out on the campus, including in the School Shop, Café, Sports Hall, and Common Room. As well as providing an excellent opportunity for our pupils, we are also encouraging listeners in the wider Bryanston community. After a three-year hiatus due to Covid, we welcomed the spectacular school musical ‘The Addams Family’. Every year group of the senior school was represented in leading parts. The experience, and memories made, for the pupils involved in the production and performing to a full house for four nights was amazing. Prep Schools, including Bryanston Prep and schools who are part of The Blandford Schools’ Network were also invited and Coade Hall Theatre was filled with applause at the end of each specular performance. October 2022, we hosted the London Concert at the Holy Trinity Church in Sloane Square. Ninety-six senior school pupils performed, from D through to A2. For the first time, thirty-three Bryanston Prep pupils took part. Not only does the number of pupils involved highlight the scale of music at Bryanston, but the quality of the music was also sensational. In celebration of the popular ITV television show ‘The Masked Singer’, our dedicated Coade Hall team put on an incredible show for our pupils, featuring five exceedingly talented members from the Bryanston community performing on stage in front of them. The Bry Masked Teacher was a triumphant success! For Bryanston Prep, pupils in Art and D&T designed and created a piece of wearable sculpture in preparation for the Fashion Show in the Summer term 2023. The theme, ‘Wonderful World’, enabled each year group to have their own starting point – DNA, cellular structures, insect view of the world, architecture, bird’s eye view, solar system, and the universe. Pushing experimentation and creativity, the finished garments shone vibrantly on the catwalk and pupils performed dances to show off their creations. The Fashion Show was performed at Bryanston’s Greek Theatre. Page 9 ## **BRYANSTON SCHOOL** ## **REPORT OF THE GOVERNORS** ## **for the year ended 31 August 2023** ## **REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR (continued)** Back by popular demand, our Showcase Week returned in the summer term 2023 and brought with it a range of showpiece events aiming to celebrate our wonderfully talented pupils, across the performing arts, as well as sport and the creative arts. At Bryanston Prep, many of the improvements to the school have been going ahead behind the scenes. Revamped facilities include an upgrade to the electrics, fire alarm replacement system, water safety management system and a boiler upgrade, renovation and the more visible improvements include the creation of the Innovation Room in the main building, a redesigned Library, and a dedicated outdoor classroom area and Forest School area. ## **Bryanston Enterprises** Bryanston Enterprises is the business name for the commercial trading activities of the Group and also for the sport and recreational activity courses provided during the school holiday periods. In December 2022, for the first time, Bryanston opened its doors to the local community and invited members of the public to come and enjoy classic Christmas films at Bryanston. Children were invited to dress up for the sing-along screenings and the school’s new catering van provided mulled wine, popcorn, hot dogs, and other popular theatre refreshments. Movies included ‘Elf’, ‘The Holiday’ and ‘It’s A Wonderful Life’. January 2023 saw the introduction of children’s swimming lessons for members of the public at our state-of-the-art sports centre. The Bryanston Swimming Academy launched at the beginning of the year and offers Rookie Lifeguard sessions (for children aged 8-12) and ‘Learn to Swim’ lessons for those aged 5 to 11. Lessons are suitable for all abilities and follow Swim England’s Learn to Swim framework, split over seven stages and covering the four keystrokes and water safety. During the Spring term, we had 60 registrations for swimming lessons and 49 registrations during the summer term. We look forward to continuing the development of the Bryanston Swimming Academy. The activity courses were able to go ahead during the Easter and summer holidays. During Easter 2023, 92 delegates attended courses, and this increased to 274 over the summer holidays. It was brilliant to welcome so many new children and adults to the School. ## **Charity and Public Benefit** The generosity and support of the Bryanston family is a critical factor in the School’s success. Philanthropic contributions ensure additional enrichment for all our pupils and enables us to widen access and retain our breadth of education. Notable whole-school fundraising activities from this year include our A2 Charities Weekend organised by the Heads of School, which raised a total of £21,000 following a fantastic programme of events. The money raised was split between Hope for Ghana and Play and Learn. We also supported two local charities, Dorset Children’s Foundation and Meningitis Research Foundation. At the end of the summer term in 2023, Sixth Form ambassadors from Bryanston and The Blandford School collaborated with Bold Voices to deliver a series of discussion workshops for Year 6 pupils from primary schools in the Blandford Schools’ Network. The workshops were hosted at Bryanston Prep, as part of the focus of a Nurturing Equality Festival. The project brought younger and older pupils together to encourage primary school children to learn how to recognise, challenge and address issues that directly and indirectly fuel gender inequality in society. We are proud to maintain our long-standing tradition of hosting Tuesday Club, a small gathering for the older generation that live locally, providing tea and entertainment. Organised by our Chaplain and with support of our Pioneering pupils, the club continues to welcome people from the local community to the school . We take our role and responsibility as a member of the local community seriously and maintain our position in the Blandford Schools’ Network, a group aiming to offer all the Blandford area children a rich, inclusive, and challenging education. We work with other schools in the network to discuss key pastoral issues and share resources. Page 10 ## **BRYANSTON SCHOOL** ## **REPORT OF THE GOVERNORS** ## **for the year ended 31 August 2023** ## **REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR (continued)** The school also brings a significant economic contribution to the local area; using the Economic Impact Assessment Tool developed by Oxford Economics and the Independent Schools Council, the schools economic impact is as follows: - Contribution to the UK GDP - £43.6m - Contribution to North Dorset’s GDP – £22.9m - Total number of jobs in North Dorset supported by the School’s activities – 714 - UK Tax supported by the School’s activities £13.1m - Savings generated for the UK taxpayers as a result of pupils attending Bryanston, who otherwise could take up free UK state school places - £4.8m ## **FINANCIAL REVIEW** The results for the year and financial position of the group are shown in the attached financial statements. Total income increased by £1,775,464 (6.4%) when compared to 2022 and expenditure increased by £1,898,545, after taking account of the investment gains (£122,073) the resulting net deficit for the year was £297,175. The Governors have continued to improve the fabric and facilities of the School investing £1,260,785. ## **Bursaries** The value of means tested awards totalled £3,522,503 (2022: £3,213,732) and represented 12% of gross fees (2022 : 11.5%), helping 191 pupils (2022 : 171) of whom benefited from full remission and a further 19 at over 90% remission (2022 : 16). ## **Scholarships** Scholarship only awards amounted to £588,603 (2022 : £613,181) and were provided to 88 pupils (2022 : 91 pupils). In addition, a further 52 (2022 : 36) scholars received remission in the form of scholarship plus bursary and the value of the combined award is included in the figure relating to bursaries. ## **Investment powers** As a charity the parents of our pupils have the assurance that all income must be applied for educational purposes. As an educational charity we enjoy tax exemption on our surplus provided it is applied for our charitable aims. As a charity we are eligible for an 80% reduction in business rates on the property we occupy for our charitable purposes, which is worth £508,300. However, as an educational charity we are unable to recover VAT input tax on our expenditure, since materially all supplies are exempt for VAT purposes. The cost of irrecoverable input VAT to the school is estimated to be in excess of £1,000,000. ## **Reserves** The total funds held by the school are £38.1m (2022: £38,4m), of which £3,4m (2022: £3,4m) is held in restricted funds. At the year end date, the school had total unrestricted funds of £34.7m (2022: £35m). The value of unrestricted funds is more than exceeded by the value of and fixed assets £43.8m (2022: £44.5m). The excess value of fixed assets over unrestricted funds is £9.1m (2022: £9.5m) and means that while there is investment in the school’s buildings to keep it at the forefront of the independent school sector free reserves, as defined by the Charities SORP, will not be maintained. The Governors monitor the level of cash reserves on a termly basis and review the policy on an annual basis. The Governors are satisfied that the school has sufficient working capital to meet it needs for the foreseeable future and to enable it to manage and respond to unforeseen situations. ## **Fundraising standards** The Governors recognise the importance of meeting the highest standards of practice and care in relation to fundraising activities. Bryanston has signed up to the fundraising code of practice and voluntarily registered with the Fundraising Preference Service (FPS). The School keeps benefactors informed about fundraising activities through regular newsletters and reports and information about FPS and GDPR was first included in the 2018 annual publication of the Philanthropic Impact Report. All fundraising activity is carried out by Bryanston staff, who all have received training on fundraising standards. No complaints have been received. Bryanston raises funds from Old Bryanstonians (OBs), associated past and current parents, staff, and those with a personal connection with the School and does not undertake general fundraising campaigns to members of the public. Page 11 ## **BRYANSTON SCHOOL** ## **REPORT OF THE GOVERNORS for the year ended 31 August 2023** ## **REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR (continued)** ## **Asset cover for funds** Note 18 to the accounts sets out an analysis of the assets attributable to the School’s funds. These assets are sufficient to meet the School’s obligations on a fund-by-fund basis and no fund was in deficit at the year end date. ## **STREAMLINED ENERGY AND CARBON REPORTING (SECR)** Energy consumption was as follows: |nergy consumption was as follows:||| |---|---|---| ||**2023**|**2022**| |UK energy use (1)||| |_kWh_|9,149,052|9,493,893| |Associated Greenhouse gas emissions (2)||| |_Tonnes CO2 equivalent_|1,739.66|1,770.88| |Intensity ratios||| |_Emissions per pupil (tCO2e per pupil)_|2.14|2.19| |Emissions per m2(tCO2e per m2)|0.03|0.03| UK energy use covers the principal activities of the group and incorporates electricity use, natural gas use and fuel used in company owned vehicles. The total energy use has decreased when compared to 2022. ## **Quantification and reporting methodology** We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol – Corporate Standard and have used the 2023 UK Government's Conversion Factors for Company Reporting. The data has been collected from supplier invoices and then converted into greenhouse gas emissions. ## **Intensity measurement** The chosen two intensity measurement ratios are (1) total gross emissions in metric tonnes CO2e per pupil; the recommended ratio for the sector and given pupil numbers vary year on year and the majority of energy consumption relates to gas and electricity (2) total gross emissions in metric tonnes CO2e per square meter of buildings is also an appropriate intensity measurement. ## **Measures taken to improve energy efficiency** In the period under review the school has - Hosted a sustainability education conference for pupils and staff followed by themed weeks to drive improvements in the use of resources and the reduction of waste. - Continued its programme to replace old light fittings with modern LED lamps - Added further electric charging points around the campus. - Continued a programme of replacing old boilers with new energy efficient boilers. - Identified an opportunity to accelerate the replacement of old light fittings with energy efficient equivalent lamps for installation in the forthcoming year. - Explored with the planning authorities the possibilities for roof and ground mounted PV panels. Page 12 ## **BRYANSTON SCHOOL** ## **REPORT OF THE GOVERNORS for the year ended 31 August 2023** ## **PLANS FOR THE FUTURE** The Governors are very aware of the difficult and uncertain macro-economic climate that continues to exist and acknowledge that challenges for fee paying parents do not diminish. They are also aware of the challenges facing the Independent School sector and therefore to ensure the school maintains a competitive position, widens access to the education it delivers, and provides the best care and opportunities to our pupils. the key focus area are: - To strengthen our fundraising and development reach to enable ongoing and meaningful relationships with our alumni and to build a significant bursary fund. - To develop significant alternative streams of income to reduce the strain on our financial model and to generate funds to reinvest back into our educational provision and experience for our pupils. - Continuous improvement to deliver the highest standards of educational provision, responding to the changing UK academic examination landscape and the changing needs of pupils and parents - To continue to invest training and wellbeing support for our staff. - To ensure that Bryanston Prep achieves its ambitious goals following the strategic investment in infrastructure, facilities, and other resources. - To improve the flexibility of our boarding capacity. - To further build on the growing strength of our relationships with other schools, educational institutes, industry, sporting bodies and the local community with whom we can mutually work and support. - To continue to improve our carbon footprint, through investment in education and in energy efficiency. ## **RISK MANAGEMENT** The Council of Management is responsible for the management of the risks faced by the School and for maintaining adequate systems and controls to help mitigate those risks to acceptable levels. The Council of Management operates through a sub-committee structure with each committee focusing on a key area of operation. All committees comprise a mix of Governors, Executive team, and staff. The Council of Management meets once a term and, at each meeting, members of the Executive Team and every committee report formally to Council of Management. The day-to-day management of risks is delegated to the School’s Executive, who have established a Risk Committee, which meets 5-6 times a year and reports each term to the Governors’ Finance and General Purposes Committee. Further controls: - Each committee has formal written Terms of Reference adopted by the Council of Management - Formal agendas are issued in advance for all committees and Council of Management meetings. - Minutes of the meetings are maintained, and clear action points identified. - Strategic development plan is reviewed at least annually by the Council of Management - Written policies, which are reviewed at least annually and published on the School’s website and further staff only policies are circulated and published on the School’s intranet. - Safeguarding procedures, including safer recruitment, and training for all new staff and at least bi-annual formal safeguarding training for all other staff and Governors. - Comprehensive budgeting, financial management and review Risks are identified, assessed and controls established throughout the year by the Risk Committee, and a formal review is presented, together with the risk register, to the Executive Committee and then the Finance and General Purposes Committee for discussion before presentation at Council of Management. The Council of Management are satisfied that the major risks to which the charity is exposed are reviewed at sufficient frequency and systems have been established to mitigate these risks. As a part of this review the Council of Management has identified the following principal areas of risk and uncertainty: - 1) Failure to deliver the Bryanston Operating Model - 2) Failure of IT security or compliance breach - 3) Government change the law to remove charitable tax reliefs for independent schools and as a consequence the affordability of school fees for parents. The Governors, via the Executive Committee and the Risk Committee have implemented controls and policies to mitigate these risks. The Risk Committee will continue to regularly assess the existing and emerging risks facing Bryanston and the steps being taken to reduce those risks and will adjust the risk register to reflect any changes. Any short-term high impact risks will be monitored very closely. Page 13 BRYANSTON SCHOOL REPORT OF THE GOVERNORS for the year ended 31 August 2023 STATEMENT OF GOVERNORS, RESPONSIBILITIES The Governor5 (who are also directors of the company for the purposes of company law 2nd trustees of the charity) are responsible for preparing the Trustees, Annual Report including the Strategic Report 2nd the Financial Ststements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accep¢ed Accounung Prattite). Company law requires the Governors to prepare financial statements for each financial year which give a true and fair view of the state of aff&rs of the school and of the group and its flnanclal actfvities for that perlod. In preparing those financial statements. the Governors are required to.. Select suitable attounting polities and then apply them consis￿n￿¥• Observe the methods and principles in the Charities SORP IFRS1021', Make judgements and estimaces that are re3sonable and pruden State whether applicable accounting standards have been followed. subject to any material departure5 disc105ed and explained in the financial Statements and Prepare the financial statements on the going concern basi5 unles5 It is inappropriate to presume that the omp2ny and the group will continue In operation. The Governors are responsible for keeping proper aceounting records which disclose with reasonable accuracy at any time che financial position of the company and to enable them to ensure that the financial Sta￿￿ents comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for ¢akn"ng reasonable steps for the prevention and detection of fr3ud and other irregularities. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS In so far as the Governors are aware.. there is no relevant iudit information of which the compan15 auditors are unaware,. and the Governors 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. Haysmacintyre LLP, will be proposed for re-appoSntment at the forthcoming Annual Generdl Meeting. ON BEHALF OF GOVERNORS: The Governors lin their capacity as directors of the company and trustees of the charity) approve the Report of ¢he Governors and the Strategic Report for the year ended 31 August 2023. ompan ere Daced.. 16 Marth 2024 Page 14 ## **BRYANSTON SCHOOL** ## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES** **for the year ended 31 August 2023** |Notes
**Income from:**
Charitable activities
Fees receivable
2
Other income
5
Donations, grants and legacies

Trading activities
3
Investment
4
**Total**
**Expenditure on:**
Charitable activities:
School operating costs
Trading activities
**Total**
8
**Net Income/(expenditure) before**
**investment gains/ (losses)**
**Other recognised gains/**
**(losses):**
10
Realised investment gains/(losses)
Unrealised investment gains/(losses)
**Net Income/ (expenditure)**
Transfers between funds
17/18
**Net movements in funds**
Fund balances 1 September 2022
**Fund balances carried forward**
**as at 31 August 2023**|Unrestricted
£
25,269,253
1,468,787
700,090
1,808,428
141,916
29,388,474
28,354,934
1,476,945
29,831,879
(443,405)
-
-
(443,405)
136,515
(306,890)
35,062,245
34,755,355|Restricted
£
-
-
4,915
-
43,941
48,856
24,699
-
24,699
24,157
24,114
97,959
146,230
(136,515)
9,715
3,376,665
3,386,380|Total
2023
£
25,269,253
1,468,787
705,005
1,808,428
185,857
29,437,330
28,379,633
1,476,945
29,856,578
(419,248)
24,114
97,959
(297,175)
-
(297,175)
38,438,910
38,141,735|Total
2022
£
24,191,561
1,460,380
149,200
1,784,167
76,557| |---|---|---|---|---| |||||27,661,865| |||||26,623,632
1,334,401| |||||27,958,033| |||||(296,168)
(10,056)
(456,280)| |||||(762,504)
-| |||||(762,504)
39,201,414| |||||38,438,910| The financial activities set out above are those of the group. Details of comparatives by fund are disclosed in note 26. ## **Continuing operations** None of the group's activities were acquired or discontinued during the current and previous years. The notes on pages 18–32 form part of these consolidated financial statements Page 15 BRYANSTON SCHOOL Company No. 226143 BALANCE SHEETS 31 August 2023 Consolidated School Notes 2023 2022 2023 1022 Fixed assets: Tangible assets Investments 40.794.625 2.968.677 41,299,042 3,17L189 40,651.042 41.091.795 43.763.302 44.471,231 40,651,042 41.091,795 Current assets: Scocks Debtors Cash at bank and in hand 202.420 1.475.562 6,583,516 204,314 1,503,592 6,193,348 33.919 1,335,840 6,583,516 27,077 1.583,658 6.193.348 12 8.261.498 7.901,254 7,953.275 7,804.083 Creditors: Amounts falling due within one year 12,669,157 12.565.932 12,374,250 l L197.896 Net Current Liabilitie&" (4,407,659) 14,664.6781 14.420.975) {4.393,8131 Total assets lèss currènt liabilities: 39.355,643 39,806.553 36.230.067 36,697,982 Cyedltors: Due after more than one year 1,213,908 1.367,643 1.213.908 1.367,643 38.141.735 38.438.910 35,016,159 35,330,339 Funds: Restricted funds Unrestricted funds General funds Designated funds 17 3.386.380 3,376,665 420.314 427.604 32,890.269 1,865.086 33.725,209 1,337.036 32,890,269 1.705.576 33.725,209 1,177.526 18 38,141.735 38.438.910 35,016,159 35,330,339 The School'5 deficit for the year of £291,47212022.. surplus £355.926) is included. ON BEHALF OF GOVERNORS: reenhill K Chairman Approved and authorised for issue by the Governors on 16 March 2024 The notes on page5 18-32 form part of these consolidated financial sraiements Page 16 ## **BRYANSTON SCHOOL** ## **CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 August 2023** |Notes
**Net cash provided by**
**operating activities**
22
**Cash used in investing activities**
23
**Increase in cash and cash**
**equivalents in the year**
**Cash and cash equivalents at**
**1 September 2022**
**Cash and cash equivalents at**
**31 August 2023**
24|2023
£
1,028,701
(914,620)
114,081
6,381,089
6,495,170|2022
£
2,886,793
(692,328)| |---|---|---| |||2,194,465
4,186,624| |||6,381,089| ## **Analysis of changes in net debt** |Cash
Cash equivalents
Overdraft, repayable on demand
Total|1 September
2022
£
6,193,348
237,484
(49,743)
6,381,089|Cashflows
£
390,168
(199,964)
(76,123)
114,081|31 August
2023
£
6,583,516
37,520
(125,866)| |---|---|---|---| ||||6,495,170| The notes on pages 18-32 form part of these consolidated financial statements Page 17 ## **BRYANSTON SCHOOL** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2023** ## 1. **ACCOUNTING POLICIES** ## **Accounting convention** The accounts of the School are prepared in accordance with the Statement of Recommended Practice applicable to Charities (SORP 2015) (Second edition, effective 1 January 2019) and the Companies Act 2006. Bryanston School meets the definition of a public benefit entity under FRS 102. ## **Going concern** The budget, financial forecasts for income, expenditure and cashflows and access to funding support that there are no material uncertainties about the charity’s ability to continue as a going concern. The financial statements are drawn up on the historical accounting basis except that investment assets are carried at market value. ## **Basis of consolidation** The consolidated financial statements incorporate the financial statements of the School, its trading subsidiary undertaking and a controlled charitable trust. A separate statement of financial activities for the School itself is not presented because the School has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006. ## **Fees and similar income** Fees receivable and charges for services and use of premises are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and other remissions allowed by the School, but include contributions received from Bursaries and other trusts. ## **Donations and fund accounting** Donations received for the general purposes of the School are included as unrestricted funds. Donations for activities restricted by the wishes of the donor are taken to “restricted funds” where these wishes are legally binding on the Governors. ## **Trading income** Trading income represents net invoiced sales of goods and services, excluding value added tax. ## **Government grants** Income from government grants is recognised once the School is entitled to receipt, with all conditions for receipt having been met, and the value can be measured with sufficient reliability. ## **Expenditure** All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been directly attributed to one of the functional categories of resources expended in the statement of financial activities. The irrecoverable element of VAT is included with the item of expense to which it relates. ## **Investments and investment income** Investments are included at closing mid-market value at the balance sheet date. Any gain or loss on revaluation is taken to the statement of financial activities. Investment income is accounted for on an accrual basis. ## **Tangible fixed assets** Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. Repair, renovation, and replacement expenditure is written off as expenditure in the statement of financial activities. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition. Depreciation is calculated to write off the cost of tangible fixed assets, less their estimated residual values, over the expected useful lives of the assets concerned. The principal annual rates used for this purpose are: Land is not depreciated. Buildings are depreciated at rates between 1% and 20% per annum on cost or over the remaining useful life if shorter. Plant, furniture, and other equipment is depreciated at rates between 4% and 33% per annum on cost. ## **Stocks** Stock is valued at the lower of cost and net realisable value, after making allowance for obsolete and slow-moving items. Page 18 ## **BRYANSTON SCHOOL** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2023** ## 1. **ACCOUNTING POLICIES (Continued) Debtors** Debtors are measured at their recoverable amounts. ## **Impairment of assets** Impairment of assets are calculated as the difference between the carrying value of the asset and its recoverable amount, if lower. _(Recoverable amount is the higher of fair value, less any cost of sales, and the estimated value in use at the date of the impairment review)_ . The tests for impairment are carried out only if there is some indication that the carrying value of the assets may have been impaired. ## **Foreign currencies** Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are considered in arriving at the operating result. ## **Advance fees scheme** The School offers parents the opportunity to pay for up to five years tuition fees in advance in accordance with a written contract. This is treated as deferred income until the pupil joins the School whereupon the prepaid amount for each term is charged against the remaining balance and taken to income. Any shortfall is treated as a deduction from School fee income and any excess accrued is treated as additional School income. ## **Operating leases** Rentals paid under operating leases are charged on a time basis over the lease term. ## **Pensions** The School operates a group personal pension scheme for staff. ## **Funds** The school has the following types of funds: - Restricted funds – These are funds that can only be used for particular restricted purposes within the objects of the school. Restrictions arise when specified by the benefactor or potentially by the fundraising objective. - Designated funds – These are unrestricted funds where the governors have designated them for specific purposes. - General funds – These are unrestricted funds whose purpose has not been designated by the governors. ## **Financial Instruments** Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost except for investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors expect social security and other taxes and provisions. Assets and liabilities held in foreign currency are translated to GBP at the balance sheet date at an appropriate year end exchange rate. ## **Critical accounting judgements and key sources of estimation uncertainty** In the application of the accounting policies, Governors are required to make judgement estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. Judgements made by the Governors, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are deemed to be in relation to the depreciation rates of tangible fixed assets, the provision for slow moving and obsolete stock and the provision for bad and doubtful debts which are discussed above. The accounting policies have been applied consistently in dealing with items which are considered material in relations to the School’s financial statements. Page 19 ## **BRYANSTON SCHOOL** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2023** ## 2. **INCOME** |**COME**||| |---|---|---| |Fees receivable consist of:
Gross fees
Less: Total bursaries, grants and allowances|2023
£
29,380,359
(4,111,106)
25,269,253|2022
£
28,018,474
(3,826,913)| |||24,191,561| ## 3. **TRADING INCOME** The commercial activities at the School are carried out by a separate company, Bryanston Conference Centre Limited, a company registered in England (company no. 1111950). The School owns all the shares in the company and its annual profit is paid to the School under gift aid. Its trading results, extracted from its audited accounts were: |4.
Turnover
Cost of sales
Gross profit
Administrative expenses
Operating profit
Interest payable and similar charges
Net profit
Net gift aid payments
Retained profit
Extract from Balance Sheet as at 31 August 2023:
Fixed assets
Net current assets/ (liabilities)
Net assets
**INVESTMENT INCOME**
Rent receivable
Bank deposit interest
Investment income|2023
£
1,808,428
(921,973)
886,455
(566,972)
319,483
(7,044)
312,439
(312,439)
-
143,583
15,929
159,512
2023
£
42,433
99,483
43,941
185,857|2022
£
1,784,167
(842,657)| |---|---|---| |||941,510
(503,744)| |||437,766
(7,917)| |||429,8491
(445,413)
15,564| |||207,247
(47,735)| |||159,512| |||2022
£
32,838
498
43,221| |||76,557| Investment Income was £185,857 (2022: £76,557) of which £141,916 was unrestricted (2022: £33,336) and £43,941 was restricted (2022: £43,221). Page 20 ## **BRYANSTON SCHOOL** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2023** |**for the year ended 31 August 2023**|||| |---|---|---|---| |5.
**OTHER INCOME**
Summer courses
Registration and other fees
Day pupils accommodated
Miscellaneous income
Special tuition
Equestrian income
6.
**STAFF COSTS**
Wages and salaries
Termination payments
Social security costs
Other pension costs
The average number of employees during the year was as follows:
Calculated on a full-time equivalent basis:
Teaching staff
Other employees
Governors’ expenses
Numbers of governors receiving expenses||2023
£
87,285
147,964
303,435
129,058
457,570
343,475
1,468,787
2023
£
14,542,317
147,938
1,355,368
2,226,340
18,271,963
2023
No.
681
148
292
440
2023
£
2,547
8|2022
£
72,831
109,271
247,167
266,015
441,887
323,209| ||||1,460,380| ||||2022
£
13,604,908
105,100
1,268,696
2,165,412| ||||17,144,116| ||||2022
No.
611| ||||143
270| ||||413| ||||2022
£
4,083| ||||8| This represents the reimbursement of travel and accommodation expenses. With the exception of the above, neither the governors nor persons connected with them received any remuneration or other material benefits from the School or any connected organisation. The key management personnel of the group comprise of the Governors, the Head and Chief Operating Officer. The employee benefits of key management personnel were £298,159 (2022: £600,912). The number of employees whose emoluments exceeded £60,000 was: |e number of employees whose emoluments exceeded £60,000 was:||| |---|---|---| ||2023|2022| |£60,001 - £70,000|9|11| |£70,001 - £80,000|8|7| |£80,001 - £90,000|4|-| |£130,001 - £140,000|1|2| |£140,001 - £150,000|1|-| |£160,001 - £170,000|1|-| |£180,001 - £190,000|-|1| |£350,001 - £360,000 (inc. PILON & termination payment)|-|1| |The number with retirement benefits accruing in:||| |- Money Purchase schemes were|24|22| |for which the contributions amounted to|£400,932|£361,413| Page 21 ## **BRYANSTON SCHOOL** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2023** ## 7. **EXPENDITURE** |Expenditure includes:
Auditor’s remuneration – for audit services
– for non-audit services
Depreciation
Profit on disposal of tangible fixed assets
Operating lease rentals – Land and Buildings|2023
2022
£
£
32,330
28,140
4,440
1,150
1,765,202
1,739,403
(34,687)
(73,019)
30,900
30,900| |---|---| ## 8. ## **ANALYSIS OF EXPENDITURE** |**Charitable activities**
School operating activities:
Teaching costs
Welfare
Premises
Management and administration
Governance
**Trading activities:**
Trading costs of the subsidiary
**Total for group**|Staff costs
£
11,113,602
4,235,202
885,884
1,660,763
-
17,895,451
376,512
18,271,963|Support
costs
£
2,647,223
1,915,178
3,522,754
730,160
21,270
8,836,585
1,017,515
9,854,100|Depreciation
& Profit on
Disposal
£
331,254
34,518
1,270,789
11,036
-
1,647,597
82,918
1,730,515|Total
£
14,092,079
6,184,898
5,679,427
2,401,959
21,270| |---|---|---|---|---| |||||28,379,633
1,476,945| |||||29,856,578| |||||Total
£
534,410
13,630,871
5,730,066
4,634,627
2,075,148
18,510| |_Analysis of expenditure –previousyear_||||| |**Charitable activities**
Net liabilities on merger*
School operating activities:
Teaching costs
Welfare
Premises
Management and administration
Governance
**Trading activities:**
Trading costs of the subsidiary
**Total for group**|Staff costs
£
-
10,908,115
3,713,116
815,307
1,384,041
-
16,820,579
323,537
17,144,116|Support
costs
£
534,410
2,414,639
1,977,863
2,602,204
678,898
18,510
8,226,524
921,009
9,147,533|Depreciation
& Profit on
Disposal
£
-
308,117
39,087
1,217,116
12,209
-
1,576,529
89,855
1,666,384|| |||||26,623,632
1,334,401| |||||27,958,033| *Includes Fixed Assets £18,818, Current Assets £56,715, less Current Liabilities £553,941, less Restricted Funds £56,002. Expenditure on charitable activities was £26,623,632 (2022: £22,085,648) of which £26,596,980 was unrestricted (2022: £22,060,469) and £26,652 was restricted (2022: 25,179). Page 22 ## **BRYANSTON SCHOOL** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2023** ## 9. **TANGIBLE FIXED ASSETS** |**Consolidated**
**COST:**
At 1 September 2022
Additions
Disposals
At 31 August 2023
**DEPRECIATION:**
At 1 September 2022
Charge for year
Eliminated on disposals
At 31 August 2023
**NET BOOK VALUE:**
At 31 August 2023
At 31 August 2022
**School**
**COST:**
At 1 September 2022
Additions
Disposals
At 31 August 2023
**DEPRECIATION:**
At 1 September 2022
Charge for year
Eliminated on disposals
At 31 August 2023
**NET BOOK VALUE:**
At 31 August 2023
At 31 August 2022|Freehold
land and
building
£
55,259,118
565,962
-
55,825,080
15,003,564
1,202,464
-
16,206,028
39,619,052
40,255,554
Freehold
land and
building
£
55,259,118
565,962
-
55,825,080
15,003,564
1,202,464
-
16,206,028
39,619,052
40,255,554|Plant,
furniture
and other
equipment
£
7,961,068
694,823
(54,136)
8,601,755
6,917,580
562,738
(54,136)
7,426,182
1,175,573
1,043,488
Plant,
furniture
and other
equipment
£
7,118,517
675,569
(48,999)
7,745,087
6,282,276
479,820
(48,999)
6,713,097
1,031,990
836,241|Totals| |---|---|---|---| ||||£
63,220,186
1,260,785
(54,136)| ||||64,426,835| ||||21,921,144
1,765,202
(54,136)| ||||23,632,210| ||||40,794,625| ||||41,299,042| ||||Totals| ||||£
62,377,635
1,241,531
(48,999)| ||||63,570,167| ||||21,285,840
1,682,284
(48,999)| ||||22,919,125| ||||40,651,042| ||||41,091,795| Page 23 ## **BRYANSTON SCHOOL** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2023** ## 10. **INVESTMENTS** |**NVESTMENTS**|||| |---|---|---|---| |Balance at 1 September 2022
Additions
Disposals
Realised profit/(loss) on disposal
Revaluations
Quoted investments and fixed
interest stock
(Historic cost £2,219,659)
Cash deposits and interest
Balance at 31 August 2023|Consolidated
2023
2022
£
£
2,934,705
3,668,461
448,365
409,968
(573,986)
(677,388)
24,114
(10,056)
97,959
(456,280)
2,931,157
2,934,705
37,520
237,484
2,968,677
3,172,189|School|| ||2023
£
2,934,705
448,365
(573,986)
24,114
97,959
2,931,157
37,520
2,968,677|2023
£
-
-
-
-
-
-
-
-|2022
£
-
-
-
-
-| ||||-
-| ||||-| The School controls two other entities other than its trading subsidiary. - I O Education Services Limited, which was dormant throughout the year. - The Bryanston Foundation is a charity registered in England and Wales and its objects are to provide items, services and facilities for the pupils of the school, which advance the purposes of the school. The aggregate amount of assets, liabilities and funds are shown below and a summary of its income and expenditure is shown in note 17. The Bryanston Foundation has been consolidated on the grounds that its net assets are material to the group. |Extract from Balance Sheet as at 31 August 2023:
Fixed assets
Net current assets/ (liabilities)
Net funds|2023
£
2,931,157
34,910
2,966,067|2022
£
2,934,705
14,356| |---|---|---| |||2,949,061| ## 11. **STOCKS** |Maintenance, domestic and catering stock
Stock of goods for resale|Consolidated
2023
2022
£
£
47,136
43,768
155,284
160,546
202,420
204,314|School|School| |---|---|---|---| ||2023
£
47,136
155,284
202,420|2023
£
33,919
-
33,919|2022
£
27,077
-| ||||27,077| ## 12. **DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade debtors
Other debtors
Prepayments
Amount due from subsidiaries|Consolidated
2023
2022
£
£
924,100
1,055,567
128,246
74,530
423,216
373,495
-
-
1,475,562
1,503,592|School|School| |---|---|---|---| ||2023
£
924,100
128,246
423,216
-
1,475,562|2023
£
829,874
124,576
381,390
-
1,335,840|2022
£
672,439
63,552
371,858
475,809| ||||1,583,658| Page 24 ## **BRYANSTON SCHOOL** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2023** ## 13. **CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade creditors
Bank loans and overdrafts
Other creditors
Fees received in advance
Parent deposits
Amount due to subsidiaries
Taxation and social security
Accrued expenses
Advance fees scheme (see note 14)|Consolidated
2023
2022
£
£
838,987
1,018,220
125,866
49,743
348,135
441,532
4,395,593
4,217,599
4,878,630
4,499,776
-
-
449,990
423,950
206,081
391,493
1,425,875
1,523,619
12,669,157
12,565,932|School|School| |---|---|---|---| ||2023
£
838,987
125,866
348,135
4,395,593
4,878,630
-
449,990
206,081
1,425,875
12,669,157|2023
£
672,012
-
348,134
4,395,593
4,878,630
176,474
351,420
126,112
1,425,875
12,374,250|2022
£
914,885
-
347,359
4,217,599
4,499,776
-
337,697
356,961
1,523,619| ||||12,197,896| The school bank accounts are secured by a legal charge on the School’s freehold property and a debenture on other assets. ## 14 **ADVANCE FEES SCHEME** Parents may enter into a contract to pay the School up to the equivalent of five years’ tuition fees in advance. The money may be returned subject to specific conditions. Assuming pupils will remain in the School, advance fees will be applied as follows: |After 5 years
Within 2 to 5 years
Within 1 to 2 years
Within 1 year
Balance at 1 September 2022
New contracts
Repayments
Amounts utilised in payment of fees:
To the School
Discount accrued
Balance at 31 August 2023|2023
£
-
522,405
691,503
1,213,908
1,425,875
2,639,783
2,891,262
1,252,516
-
4,143,778
(1,498,310)
2,645,468
(5,685)
2,639,783|2022
£
-
519,215
848,428| |---|---|---| |||1,367,643
1,523,619| |||2,891,262| |||2,986,091
1,397,858
-| |||4,383,949
(1,482,641)| |||2,901,308
(10,046)| |||2,891,262| Page 25 ## **BRYANSTON SCHOOL** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2023** ## 15. **CREDITORS: DUE AFTER MORE THAN ONE YEAR** |Advance fees scheme (see note 14)|Consolidated
2023
2022
£
£
1,213,908
1,367,643
1,213,908
1,367,643|School|School| |---|---|---|---| ||2023
£
1,213,908
1,213,908|2023
£
1,213,908
1,213,908|2022
£
1,367,643| ||||1,367,643| ## 16. **OBLIGATIONS UNDER LEASING AGREEMENTS** The total future minimum lease payments due on leases expiring: |After 5 years|Consolidated
Operatingleases
2023
2022
£
£
370,800
370,800|School
Operatingleases| |---|---|---| |||2023
2022
£
£
401,700
401,700| ## 17. **RESTRICTED FUNDS** Analysis of movement in restricted funds |Teddy Potter Fund
Business Conference
ENEV
Live@Bry
Bryanston Prep Funds
Bryanston School
Bryanston
Foundation|Balance at
1
September
2022
£
176,842
76,727
100,003
18,030
56,002
427,604
2,949,061
3,376,665|Income
£
3,923
-
-
-
992
4,915
43,941
48,856|Expenditure
£
(1,000)
-
-
-
-
(1,000)
(23,699)
(24,699)|Gains &
Losses
£
-
-
-
-
-
-
122,073
122,073|Transfers
£
-
-
-
-
(11,205)
(11,205)
(125,310)
(136,515)|Balance at
31 August
2023
£
179,765
76,727
100,003
18,030
45,789| |---|---|---|---|---|---|---| |||||||420,314
2,966,066| |||||||3,386,380| Bursaries restricted funds represent donations to the School where the donor has requested that the funds be used in this area. The Teddy Potter Fund was established from donations to provide bursaries to sixth form pupils studying sciences. The Business Conference fund came from donations received for the purposes of funding an annual business conference and other workshops which aims to encourage business enterprise not only amongst our pupils, but also the wider local pupil population. The first conference was held in the summer 2013. The ENEV fund has been established to help Bryanston pupils and recent former pupils to turn their entrepreneurial ideas into new businesses. It also helps fund the educational programme, which promotes business and entrepreneurship with pupils. The Bryanston Foundation is a charity controlled by the School. In the opinion of the governors its net funds should be treated as a restricted fund on consolidation. Page 26 ## **BRYANSTON SCHOOL** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2023** ## 17. **RESTRICTED FUNDS (Continued)** _Analysis of movement in restricted funds – previous year_ |Teddy Potter Fund
Business Conference
ENEV
Live@Bry
Bryanston Prep Funds
Capital assets
Bryanston School
Bryanston
Foundation|Balance at
1 September
2020
£
172,004
76,727
100,003
18,030
-
-
366,764
3,517,516
3,884,280|Income
£
4,838
-
-
-
-
15,000
19,838
43,221
63,059|Expenditure
£
-
-
-
-
-
-
-
(26,652)
(26,652)|Gains &
Losses
£
-
-
-
-
-
-
-
(466,336)
(466,336)|Transfers
£
-
-
-
-
56,002
(15,000)
41,002
(118,688)
(77,686)|Balance at
31 August
2022
£
176,842
76,727
100,003
18,030
56,002
-| |---|---|---|---|---|---|---| |||||||427,604
2,949,061| |||||||3,376,665| ## 18. **ALLOCATION OF NET ASSETS** The group net assets are held for the various funds as follows: |Unrestricted
Restricted|Fixed assets
and
investments
£
40,794,625
2,968,677
43,763,302|Net current
assets/
(liabilities)
£
(4,825,362)
417,703
(4,407,659)|Long term
liabilities
£
(1,213,908)
-
(1,213,908)|Total
£
34,755,355
3,386,380| |---|---|---|---|---| |||||38,141,735| _Allocation of net assets – previous year_ |Unrestricted
Restricted|Fixed assets
and
investments
£
41,299,042
3,172,189
44,471,231|Net current
assets/
(liabilities)
£
(4,869,154)
204,476
(4,664,678)|Long term
liabilities
£
(1,367,643)
-
(1,367,643)|Total
£
35,062,245
3,376,665| |---|---|---|---|---| |||||38,438,910| Page 27 ## **BRYANSTON SCHOOL** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2023** ## 18. **ALLOCATION OF NET ASSETS** Analysis of movements in unrestricted Funds |Income account
Designated funds:
Bryanston Fund
Operational Endowment
Other minor funds
HM Discretionary fund
Trading company assets|Balance at 1
September
2022
£
33,725,209
1,018,885
102,307
14,466
41,868
159,510
1,337,036
35,062,245|Income
£
26,865,911
696,891
150
63
17,031
1,808,428
2,522,563
29,388,474|Expenditure
£
(28,168,849)
(161,285)
(17,637)
(1,238)
(5,925)
(1,476,945)
(1,663,030)
(29,831,879)|Transfers
£
467,998
(331,483)
(331,483)
136,515|Balance at
31 August
2023
£
32,890,269| |---|---|---|---|---|---| ||||||1,554,491
84,820
13,291
52,974
159,510| ||||||1,865,086| ||||||34,755,355| The Bryanston Fund represents unrestricted donations, which are accounted separately from the School’s General Income Account. The Operational Endowment Fund represents unrestricted donations provided for the purpose of supporting the infrastructure of the Development Office. _Analysis of movement in unrestricted funds – previous year_ |Income account
Designated funds:
Bryanston Fund
Operational Endowment
Other minor funds
HM Discretionary fund
Trading company assets|Balance at 1
September
2021
£
33,955,757
1,019,971
102,120
13,841
50,371
175,074
1,361,377
35,317,134|Income
£
25,673,109
124,050
187
625
16,668
1,784,167
1,925,697
27,598,806|Expenditure
£
(26,569,343)
(2,466)
-
-
(25,171)
(1,334,401)
(1,362,038)
(27,931,381)|Transfers
£
665,686
(122,670)
-
-
-
(465,330)
(588,000)
77,686|Balance at
31 August
2022
£
33,725,209| |---|---|---|---|---|---| ||||||1,018,885
102,307
14,466
41,868
159,510| ||||||1,337,036| ||||||35,062,245| ## 19 **. PENSION COMMITMENTS** The total pension costs for the group were £2,226,340 (2022 - £2,165,412) which relate to Money Purchase Schemes. There were outstanding contributions at the balance sheet date of £190,059 (2022 - £186,001) in respect of contributions due for the month of August paid over to the pension scheme administrators in September. Page 28 ## **BRYANSTON SCHOOL** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2023** ## 20 **. STATUS** The company is limited by guarantee and does not have a share capital. The liability of members in the event of a winding up is limited by guarantee to an amount not exceeding £1 per member. At the balance sheet date there were 10 members (2022 – 14). ## 21. **CAPITAL COMMITMENTS** The company had no capital commitments at the year end date (2022: nil). ## 22. **RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES** ## 23. ## 24. |**ANALYSIS OF CASH FLOWS**
**Cash flows from Investing activities**
Interest and rents from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Purchase of investments
Sale of investments
**Net cash used in investing activities**
**ANALYSIS OF CASH AND CASH EQUIVALENTS**
Cash at bank and in hand
Bank overdraft
Investment bank accounts
**Total and cash equivalents**
Net income
Depreciation charges
Profit on disposal of tangible fixed assets
(Gains)/ losses on investments
Investment income
Decrease in stocks
Decrease/(increase) in debtors
Increase in creditors due within one year
Decrease in creditors due after more than one year
**Net cash provided by operating activities**|2023
£
185,857
(1,260,785)
34,687
(448,365)
573,986
(914,620)
2023
£
6,583,516
(125,866)
37,520
6,495,170
2023
£
(297,175)
1,765,202
(34,687)
(122,073)
(185,857)
1,894
28,030
27,102
(153,735)
1,028,701|2022
£
76,557
(1,125,345)
89,040
(409,968)
677,388
(692,328)
2022
£
6,193,348
(49,743)
237,484
6,381,089
2022
£
(762,504)
1,739,403
(73,019)
466,336
(76,557)
37,496
(833,100)
2,617,544
(228,806)
2,886,793| |---|---|---| Page 30 ## **BRYANSTON SCHOOL** **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 August 2023** ## 25. **RELATED PARTY TRANSACTIONS** During the year the following transactions took place with Bryanston Conference Centre Limited, a wholly owned subsidiary of Bryanston School: Rent charge by Bryanston School £12,000 (2022: £12,000). Interest charged by Bryanston School on the inter-company balances £7,044 (2022: £7,917). The transfer under gift aid of the trading profit of Bryanston Conference Centre Limited to Bryanston School £312,439 (2022: £445,413). The balance outstanding on 31 August 2023 and due from Bryanston School was £176,474 (2022: due to Bryanston School £254,961). During the year Bryanston school received donations from Governors amounting to £15,650 (2022: £1,750). During the year Bryanston School received a grant of £125,310 (2022: £118,688) from The Bryanston Foundation, a charitable trust controlled by Bryanston School. The balance outstanding and due to Bryanston School on 31 August 2023 was £nil (2022: £220,848). Page 31 ## **BRYANSTON SCHOOL** ## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 August 2023** ## 26. **PRIOR YEAR COMPARATIVES BY FUND** |**Income from:**
Charitable activities
Fees receivable
2
Other income
5
Donations, grants and legacies

Trading activities
3
Investment
4
**Total**
**Expenditure on:**
Charitable activities:
School operating costs
Trading activities
**Total**
8
**Net Income/(expenditure) before**
**investment gains/ (losses)**
**Other recognised gains/ (losses):**
10
Realised investment losses
Unrealised investment gains
**Net Income/ (expenditure)**
Transfers between funds
17/18
**Net movements in funds**
Fund balances 1 September 2021
**Fund balances carried forward**
**as at 31 August 2022**|Unrestricted
£
24,191,561
1,460,380
129,362
1,784,167
33,336
27,598,806
26,596,980
1,334,401
27,931,381
(332,575)
-
-
(332,575)
77,686
(254,889)
35,317,134
35,062,245|Restricted
£
-
-
19,838
-
43,221
63,059
26,652
-
26,652
36,407
(10,056)
(456,280)
(429,929)
(77,686)
(507,615)
3,884,280
3,376,665|Total
2022
£
24,191,561
1,460,380
149,200
1,784,167
76,557| |---|---|---|---| ||||27,661,865| ||||26,623,632
1,334,401| ||||27,958,033
(296,168)| ||||(10,056)
(456,280)
(762,504)| ||||-
(762,504)| ||||39,201,414| ||||38,438,910| Page 32 ## **BRYANSTON SCHOOL** ## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BRYANSTON SCHOOL** ## **Opinion** We have audited the financial statements of Bryanston School for the year ended 31 August 2023 which comprise the Consolidated Statement of Financial Activities, The Consolidated and School Balance Sheets, the Consolidated Statement of Cash Flows, 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, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the group and parent charitable company’s affairs as at 31 August 2023 and of the group’s net movement in funds, including the 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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 Governors’ 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 group'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 Governors with respect to going concern are described in the relevant sections of this report. ## **Other information** The Governors are responsible for the other information. The other information comprises the information included in the Report of the Governors. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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. Page 33 ## **BRYANSTON SCHOOL** ## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BRYANSTON SCHOOL (continued)** ## **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 Governors (which includes the strategic report and the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the strategic report and the directors’ report included within the Report of the Governors have 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 Governors (which incorporates the strategic report and the directors’ report). We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or - the charitable company financial statements are not in agreement with the accounting records and returns; or - certain disclosures of Governors’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit ## **Responsibilities of Governors for the financial statements** As explained more fully in the Statement of Governors’ Responsibilities set out on page 14, the Governors (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 Governors 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 Governors 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 Governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor’s 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 an auditor’s report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Page 34 ## **BRYANSTON SCHOOL** ## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BRYANSTON SCHOOL (continued)** Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the independent school regulations, safeguarding regulations, health and safety requirements, GDPR, employment law and Charity law and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the Charities Act 2011 and the Charities SORP, and consider other factors such as payroll taxes and VAT. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries and management bias in certain accounting estimates and judgements. Audit procedures performed by the engagement team included: - Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; - Evaluating management’s controls designed to prevent and detect irregularities; - Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and - Challenging assumptions and judgements made by management in their critical accounting estimates Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation 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 auditor’s report. ## **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 Auditor's 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. Lee Stokes (Senior Statutory Auditor) For and on behalf of Haysmacintyre LLP, Statutory Auditors Date 27 March 2024 10 Queen Street Place London EC4R 1AG Page 35