The Council of
Milton Abbey School Limited
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
For the year ended
31 August 2020
*AA5DCAND'
27105r2021
COKIDANIES HOUSE
A22
#30
Compiny No 00532474
Registered Charity No 306318

Conter
Detall
Page
Governors, Report
2-10
Auditorfs Report
11-13
Consolidated Statement of Financial Activities
14
Consolidated Balance Sheet
15
Company Balance Sheet
16
Consolidated Cash Flow Statement
17
Notes to the Accounts
18-32
Company No 00532474
Registered Charity No 306318

THE COUNCIL OF MILTON ABBEY SCHOIX LIMITED
GOVERNORS REPORT INCORPORATING THE STRATEGIC REPORT AND THE DIRECTORS REPORT
FOR THE YEAR ENDED 31 AUGUST 2020
Company Details
Registered Chaiiiv Number..
Company Registration Nurnber..:
Re8iStered Office..
306318
(X)532474
Milton Abbey School
Blandford Forum
Dorset DTII OBZ
Judith M Fremont-Barnes MA IHonsl MEd
Matthew J Porter MA (Honsl PGCE
Stephen Lane 8Sc IHons}ACA PGCE
Ttacey Edwards
Head-.
Senior Deputy Head:
Finance Director..
Head of Operation5.' IAppointed 27 Au8 20191
The Council of Milton AbbeySchool Limited is a charitable companyfounded in 1954 and isgoverned by its Memorandum
and Artlcles of Association dated 12 Awil 1954. The Irdbilf(ies of tts members are limited to £1 each by guarantee.
Directors and Trustees
Mr l G Bromilow
Chalr of Govemors.. ChairGovernance Committee. Chair of
Finance & General Purposes Cornrnittee.. Lead Governor
Safeguarding & Single Central Register,. Lead Governor Risk &
Issue Management
Chair Education Committee- Lead Governor Boarding
Lead Governor Health and Safety:
Mr N S 8oulton <
Mr OJ H Charnbeflain QVRM TD DL
MrMJMDyer
Mr P W McGrath MW.
Mr M C R Lefort (Appointed I Sep 20191
MrMDLNoyce
Mrs J H Simm MA FCAJP I IResigned I Sep 20201
Colonel N K G Tomlin IAppointed I Sep 20191
The Reverend Canon C W Mitthell-lnnes MA'<
WKe Chair: Lead Governor Flnance
S(hool Wisitor& Staff Lialson
Member of Finance & General Purposescommlttee
MemberofGoverTh3nce Committee
< Memter of Education Committee

THE COUNCIL OF MILTON ABBEYSCHOOL UMrrED
GOVERNORS REPORT INCORPORATING THE STRATEGIC REPORT ANDTHE D]RE￿OR5 REPORT
FOR THEYEAR ENDED 31 AUGusf2020
PROFESSIONALADWSE
BANK
souaTOR
Barclays bank plc
I Churchlll Place
Canary Wharf
London E14 SHP
Wilsons Soliutors LLP
Alexandra House
Stjohn's Stoet
Salisbury SPI 258
AUDIT SERMCES
Ward Goodrnan Audit Services Lirnited
4 Cedar Parl Cobham Road
Ferndown Industrial Estate
Wirnborne. Dorset 8H217SF
INSURANCE 8ROKER
Marsh Commercial
Casilernead
Lower Castle Street
Bristol BSI 3AG
PURPOSE AIMS AND OBJECTIVES
The company was established for the pUr￿Se expressed and objects contained in its Memorandum of Association. The main
charitable attivity of the companyttsntinuesto be that of running an independent day and boarding school for boys and girls.
Aims
Milton Abbey aims to be the first choice for pa￿￿t5 and pupi15 who are looking for-.
A school that is small enough to have a communtty identtty where each indi￿dual is known. valued and
supported
A school that is bi8 enough to offer a broad and balanced curriculum with a comprehensive and well delivered co-
curricular PTograrnme
A School that 15 acadernically inclusive but which sets arnbitlOU5 bvt achievable arademic targets for all its pupi15
A sthool which offers a bespoke atademic programme at Key stsge 4 & 5 designed to cater for a pupil's academic
strengths and learnin8 preferences
Aschool which promotes a nurturing and supportive pastoral settin8 where children are allowed to flourish as
A School with a thriving full boarding offer but a150 with an attr￿5Ve day offer that is fully integrated into
boarding life.
ertive5
To achieve these aims Milton Abbey will continue to pursue Its objectives-
To attrart those pupils rnost likely to benefit from. and contribute to. its small. inclusive community
To maintain a broad range of traditional academic and vocational courses. complemented by a vibrant extra-
urricular programme, preparing our pupi15 lor 21 Century lrfe
To deliver an operating surplus each year that can be used to faolitate renewal and enhancement of the school's

THE COUNCIL OF MILTON ABBEY SCHOOL LIMITED
GOVERNORS REPORT INCORPORATING THE StRATEGIC REPORT AND THE DIRECTORS REPORT
FOR THE YEAR ENDED 31 AUGUST 2020
STRUCTURE
The members of The Council of Milton Abbry School Limited l-the Council") constitute the Board of Governors of Milton
Abbey School. subject to the provisions of the company's Memorandum and Article5 of A550Clètion. All Governors are also
Trustees and direttors of the Council. New board members are sought by the chaIm￿Tr in consultstion with other Governors
in order to provide a suitable bal3nce of general experien￿ and particular expertise in academio pastoral. legal, financial and
other relevant fields. Governors are 8iven an intr¢)ductory briefing by the Chairrnan of Governors. Head and senior managers
on appointment and volunteerfor further governance training through AGBIS and ISBA as required.
The Charity has a wholly owned non-charitsble subsidlary, Mllton Abbey School Services ￿rnited, with rts own Board of
Director5 which includes three Governo¥s. which cornrnenced trading on 29 December 2003. The principal attNities of Milton
Abbey School Services Umited arethe holding of weddings, conferences. an annual music lestival and or8anising lettin8s of
the school facilities.
GOVERNANC
The Board of Governors turrentty has three sU￿0Mmrttees and other sutKomrnittees are convened as and rf the need arlses.
The Finance and General Purposes Committee IF&GPI meets quarterly. with monthly reporting meetings as reouired, and
takes responsibillty on behalf of the Governing 8ody. to forecast. Monitor and review all aspect5 of the school's finance5, to
support the Finance Director in the management of those finances and to report on those issues to Council. The F&GP also
reviews, advises and reports on infrastnjcture issues. buiklines maintenan￿. development. health & safety and other
operational issues to the Council.
The Governance Committee meets termty to rewew school governance issues and rnembetship of the Council.
The Education Committee ha5 a monitorin8 and adwisory role relating to the school's academic, curricular and pastoral
provision and meets once a term.
RISK MANAGEMENT
The Governors are responslble for the management of the ri5k5 faced by the sthLW)l. The main risk5 to which the School is
exposed are assessed by Council who delegate responsibility forspecifrc risks to indiiidual committees. Those with the
greatest impact and likelihood have control and mitigation Pro￿dureS imposed and are c105ety monitored by both the Seniof
Managernent Team an(J Gove¥nors. Detailed coa5ideration of specific risks is given regularly in termty review5 by the full
Governing Body assisted by the Senior ManagementTeam. Risk5 are identified. assessed and controls established throughout
the year.
Management and rnitigation of the followin8 principal risk5 and uncertainties have been delegated to the listsd
subcommittees
Fallure to govern corrert
Failure to educate adequaiety
Failureto safe8uard pup¢l welfare
Failure to maintain reputation. attract and retain pupils
Major incident such as a fi￿ in the manston ho￿￿.
Regulatory non-compliance
Majorfraud or financial mismanagement
Wider political and economic f8Ctors
Governance committee
Education comrnittee
All committees
Go¥erning body and all committees
Finance & general purposes cornmittee
All committee5
Finan￿ & general purposes tommittee
Go¥emin8 b)dy

THE COUNCIL OF MILTON ABBEYSCHOOLLIMITED
GOVERNORS REPORT INCORPORATING THE STRATEGIC REPORT AND THE DIRECTORS REPORT
FOR THE YEAR ENDED 31 AUGUST 2020
MANAfjEMENT
ThE dayto day running of the school t5 delegated io the Head, supported bythe Senior Deputy Head. Finance Director, Head
of Operations and other members of the school'5 senior managernent team. who are responsible for cty)rdinating teachin
pastoral and 5UPPQrt tearn5. The Head, Senior Deputy Head. Finance Direttor and Head of Operations all attend full Council
meetings 3nd also attend the Govemance. Education and Finance & General Purp05e5 subcommittee meetlnes whe
appropriate. The Lead Governor for Hea￿h and Safety aitends the schoof5 Health and Safety Committee meetings held each
term and the Lead Governor for SafeBuarding & Single Central Register attend5 the School's sateguarding meeting&
The Senior manègemefit roles at Milton Abbey.. Head. Senior Deputy Head. Finance Director and Head of Operations are on
salaries aBreed with the individuals on recruitment. The salaries are reviewed annually by Counul and adJu￿ments
tonsidered on perfomante. affordability andthe outcome of appraisal5.
The key conlro15 used by the school include=
formal agendas for all Sub-committee and 8oard actiwty."
detailed tems of reference for all Sub-commtttees..
comprehensive strategic plannin& budgetiriB and management accountin&
established organisational strurtvre and lines of reportin&
fomial written polioes.-
clear authorisation and approval levels. and
vetting procedures as required by law for the protection of the vulnerable.
PUBIIC BENEFIT
The School give5 financial as515tance in the form of bursaries to parents of pupils who would otherwise be unable to attend
Mihon Abbey. Durin8 ihe year, the sd)ool awarded means-tested bursaries, scholarship5. remissions and grants totalling
£760.35612019.. £596.303 2018.. f 672.3361. The GO¥err￿)r5, policy. in line with that of other independent schools. is to make
these award5 on the basis of the individual's educational potential. Awards are made out of unrestricted funds and the
maio¥ity are funded from income.
There is a policy to enable access and to relieve hardship where the pupil's edvcation and future prospect5 would otherwise
be at risk. Duringthe year. this mechanism was supplemented by the formation of the Milton Abbey Community Fund which
was established as a ￿aCtIOn to the financial impatt of the Covid-19 pandemK. The aim of this fund is to piovide financial
support to pupils who may be at risk of withdrawal from the School on financial grounds as a consequence of the pandemic.
The fund received contribution5 of £58,952 during the year and grants of £13.1KXI We￿ made with furthergrants of £17.OLNJ
awarded since the year end with furthei cases under conside*ation and rewiew.
The school is located in rural Dofset and has good liaison with a hxal primaryschool thatordinarily use the faciltlies èt the
School on a re8ular basis. The theatre. golf course. swimrnin8 pool and other sports facilities are used by members of the local
community through local 5POrts clubs and bre made available to local Schoo￿ for prartice and fixtures. Local primary pupils
are invited to masterclasses in a range of subjerts and sports. In addition. the school interacts wtth local schools on
wednesday afternoons. prowding ￿adIng prdrtice and sport acti¥ibes for primary pupils an(J makes itsfacilities available for
fundraising and social events for a number of local charities. However. from March 2020 to date. necessary covid-19 risk
mitigation measures reduced the extent to which the school. wa5 able to welcome local community 8roups to the school
estate and it is hoped that arcumstances will be svch that these activities can recommen￿ in the second half of 2021.
The school acts in liaison with the Salisbury Diocese and through the Milton Abbey Church Standing Comrnittee in the care
and day-to-day administratlon of the Church of St Mary & 5t Michael and St Branwalader. Milton Abbey, which 15 used as the
school's chapel.

THE COUNCIL OF MILTON ABBEY SCHOOL LIMITED
GOVERNORS REPORT INCORPORATING THE STRATEGIC REPORT AND THE DIRECTORS REPORT
FOR THE YEAR ENDED 31 AUGUST 2020
PUBLIC BENEFIT
CONTINUED
In furtherance of their objectives the Governors. as Charity Trustee5. have complied wth their duty in the Charities Act to
have due regard to the Charity Commission's published general and relevant sub seetor guidance toncerning the operation of
the Public Benefrt requirement under the Att.
RELATIONSHIP WITH OTHER CHARMES
The school is fortunate to have the benefit of the Abbey church as its chapel and as a resource of great Significan￿ to the
wellbeing of the school communlty, because of the beauty and historical irnportanee of the building itself and its influence ort
the ethos and reinforcement of the aims and objettives of the school. The building is owned by the Dwxe5e of Sallsbury but
the school contribute5 appropriately to its maintenance and the buildin8 is made freely available to the school for worship,
communally and individually, and many other attivities.
The school. in partnershipwith the Di¢xese of Salisbury antl the Forestry Commission. has formed the Milton Abbey Heritage
Trust IMAHTI whose aims are to manage the restoration of the Abbey and attract visitors to the historic site in which the
school and Abbey are situated. The Trust seeks to secure grantsto carry out restoration works on the Abbey. improve publTrc
access to the Abbey and proiect the landscape.
ACTIVITI
AND ACHEIVEMENTS OURING THEYEAR
CovJd-19 Pandemic
The UK government's tovFd-19 risk miti83tion measures obliged the sthool to its site to pupils. staff and wsitorsfrom
March 2020 until August 2020. For this period. the educaiion of and pastoral support to pupils continued onllne through the
Milton Abbey Online Learning Environment IMOLEI. The school had made 518nificant investments in its IT infrastructure
durin8 the previous two year5 and therefore had MSTeams and other remote working too15 in place and was able to organise
online lesson5 and support within less than one week of the site closure. The MOLE prograrnme has been continuously
improved since March 2020 and the 5th001 is now able to switch quitkly between MOLE and onsite provision as circumstances
dictate and certasn a5pect5 of online learning have been fvlly incorporated into the school's ongoing promsion. Parent and
pupll surveys have shown high levels of satisfaction with the school's remote learning pwovi5ion and communications.
Particular care hès been given to supportingthe wellbeing and mentsl health of our students and staff during the
vnprecedented challenges of the pandemic. Cornmunity events, wch a5 A55emblie5 Chape15, were broado5t live through
the site closure and, with the House and tutor meetings. promoted a sense of community cohesron during remote learning. A
MOLE Wellbeing Checklist was the central focus of our wellbeiftg work. with regular pastoral calls to SUPPOrt students. mental
health and provide advice and support tts homtrsthooling parents. induding regular webinars on relevant topics.
Academlc Results
2020 was another sutcessful year for university and further education entry with a 100% final placement rate. There was a
significant InC￿3$e in the application rate from the previous year. rising 13% to ￿ of the cohort.. a similar rise was seen in
the first-choice success rate. which reached 97%. Average A level and 8TEC points accruement either remained constant or
increased underthe Centre Assessed Grades mechanism. with A Levels increasing by around a full gtade overall. and overall
student performance increa￿n8 by the equivalent of just over a full A Level grade. averaging at 120 points. equivalent to B88
at A Level. The wider national context of last svmmer ts reflected in aspects of these results. with mo¥e students choosing to
continue their education in the face of inevltable uncertrdintle5 in the labourand gap year market. trlowever. the overall
performance was a strong one and Tefletts growing confidence in our academic cohort. The entry profile remained as broad
as ever, with students pursuing courses in various specialist art and business schools in the UK and Spain toRethp.r with other
instilutiuns ranging from the University of Bristol. to ￿ncoln. to SOAS (School of African and Oriental Studies. iondonl, and
the Northern School of Film based at Leeds Beckett. Course interests We￿ similarly broad. with the usual clusters around
event manageMent, bu5ines5. real estate. and land-based studtes, but with continued growth in the fashionind_design
5ec.tors,-encompassintdiEif6frriedia, arcfiIt￿￿u￿ and interior design amongst othets.

THE COUNCIL OF MILTON ABBEY SCHOOL LIM￿ED
GOVERNOR5 REPORT INCORPORATING THE STRATEGIC REPORT AND THE DIRECTORS REPORT
FORTHEYEAR ENDED 31 AUGUST 2020
Curricular activities
The beginning of the academic year saw development and innovation with the introdurtion of a new sublett. BTEC Fashion. in.
a refurbished Fashion 5tudto,. this subject was a 5tudent-requested addition to our broad range of vocational courses. A new
system to a5ses5 pupil effort and application- Commitment to Leaming Grades-was bntroduced as part of our tutoring and
reporting system.
The natlonal lockdown and school closure posed an unpretedented challenge to the school's curricular promsion. however
the MOLE Imilton Abbey Online Learning Environment) programme, planned advance of the March 2020 site closurÈ.
enabled a successful transition into the online environment.
Continuity of education w35 prO￿ded through live le550ns. a Wirtual Study Hall prO￿ded support for puplls with a teacher
always on hand throu8h the working day, and a Co-curricular programme of 35 activities wa5 provided weekly. The timetsble
was modified to take into account the need5 of the students during the remote learning phase and weekly tutor and house
calls enabled 5uon8 SUPPOrt of students and enhanced partnership with parents. Teachers reconfigured courses, finding
(￿atIVe way5 to teach practical aspects of our vocational crjufses and reordering the deltvery of curriculum to enablp optimal
pro8re5s. The focus was on maintaining engagement and the joy of leaining.
Centre assessed grades were awarded. with Vale ltsrewelll and Viva Ilwe discu55ion5 of learning) meetings held onlirne for all
Middle Sixth form leave15 and the Fifth Former5 at the end of their GCSE courses. to review their achievement and mark the
end of thelr courses. in place of the usual pro8ramme of teiminal examinations.
For the hrst half of the year, throughout the School and across all subjett departments. a range of artivitiÈs. trips and visitors
added an exifa dimension to classroom studies. There wa5 a 5ucce5sion of musical recitals and concerrs across a wide variety
of genres, from the traditional local Christmas community concert organised by BTEC Music students to digttal mu5¢C
productions_ The focus forthe Drama Department was the Y9 Shakespeare in Schools Festiydl. directed by a SIKth Forni BTEC
Performing Arts student. Art and Photography exhibitM)ns prO￿ded e￿lIent showcases of pupil talent in these subjects.
Many departrnents organi5ed trip5 to 5UPPOrt pupil learning during this ￿ar. such asvlsits to the various art galleries and
de￿Rn museums in London, Science LNe. a working trip for Countryside Management pupi15 to the Holkham Estste in Norfolk
and a visit to Les Roche5 and Glion in Switierfand for Hospitality siudents. Durin8 site closu￿, webinars. extemal speaker5 ènd
teachlne staff delivered an evening lecture serie5 attended by students. parents and wider cornmunity members. The Head's
ledure series continued this year. with speakers includin8 Éntrepreneur in Residence, Charlie Bigham. who fjellve￿d a whole
school p￿sentatIOn and buslness consuttations online as part of our annual enterprise contest.
Sport and extra-curricylar
The extrd-curricular prograrnme at Milton Abbey continue5 to be a core strength with 85% of all students representing the
school In a competitive fixture during the year. Pupils take part in sports and activitie5 four times a weeL including traditional
sthool sports such as rugby. hockey. netball. lacrosse. cricket and tennis. also an irnpressNe range of vibrant alternatives
such as golf (the school has its own 9 hole golf course and PGA professional on the staffj. road cycling and mountain bikin&
sailin8. clay pigeon Shooting and swimming. This year two of our pupils represented their respective counties at hockey.
having passed through the rigorous England Player Pathway System. Milton Abbey 1st Xl Cricket team was also delighted to
receive the Yeam of ihe Yearf award for the southern District from the Middlesex County Cricket Club's'Forry Club.. The year
also saw the completion of the school's first off shore sailing programme. indvdin8 a Day Skipper Course from Poole to the
Solent and a Duke of Edinbur8h Gold Award trip from Parkstone Yacht Club.

THE COUNCIL OF MILTON ABBEY SCHOOL LIMITED
GOVERNORS REPORT INCORPORATING THE STRATEGIC REPORT AND THE DIRECTORS REPORT
FOR THE YEAR ENDED31 AUGUST 2020
Sport and extra-curricular Icontlnuedl
We play fixtures in a wide range of sports on a strong circuit of schools and compete well. Our football scholarship scheme
operated in 3550ciatiorTr with professional football acaijemy Champion Sports Group continues to attract aspiring footballers.
and the progiamme has evolved since September 2019 to include both male and female students. School teams are entered
into the ISFA competitir)ns at Under 15 and Under 18 I￿1$. ASe¥ens tour to Lisbon Pfowded a Chan￿ for our rvgby players
to compete at an intemational tournamènt.
The school continues to run a successful Combined Cadet Force and a Ovke of Edinburgh'sAward programme. All Year 9
students are entered for ihe Duke of Edinburgh Bronze Award. whilst Sifver and Gold attratt significant numbers of students
each year. The Combined Cadet Force is a popular and fully voluntsry actiwty, which continues to offerthe cadets a wide
range of expefientes. plus the chance to achieve 8TEC public service qualificatiorts through their participation in the uniL
The site closure from March 2020 saw the creation of a wde rangin8 crKurricular programme online, wth students taking
part in sporting activities including cycling and runfting challenges. as well as a range of currTrculum b35ed club5. rnany of which
were led by students, including History Society and the popular cooking activrties. Stvdents contributed to the leading of a
number of webinar5 featuring vi51ting guests from sportin&.musical. film and hospitslity backgrounds, whtlst pupils.
achievement5 in the ctrcurricular field were relebrated regulady in assernblie5 and school community events. Student5,
engagement with these activitie5 Was siipported through the wmpletion of a Milton Abbey MOLE Co-currlcular Dlploma, in
which pupils nominated and achieved targets based around the ROUND Square IDEALS.
INAN
AL REVIEW AND RESULTS F
R THEYEAR
The school entered into a new long terffl banking arrangement with Barclay5 Bank pk in February 2020. The 8roup now
benefits from a £4.5million loan. Structu￿ over a 25 year repayment profile together with an increased overdraft facility of
£l.Srnillion. Previou5 borrowings froffl Svenka Hande15banken were repaid and the balance of the new Barclays facilitoes are
available to the school as working capital and to facilitate ongoing investment in the school facilitie5 and infrastructure. These
facilities have enabled the School to manage the covid-19 pandemic with Confiden￿ and to support a numberof parents who
have encOUnte￿d financial challenges resulting in delays in meeting their fee commilrnents
In recognitlon of the site closure during the summer 2020 temi. the school {edu￿d fees charged and the financial Impart of
these reductions wa5 mitigated by furloughing a number of staff who were not involved with the delivery of the MOLE
programme usln8 the Coronavirus Job Reteniion Scheme anLI other cost redvction measures including a staff salary sacrifi
scheme. These me35ure5 enabled the group to return a modest net operattng surplus amounting to £235,432 despite the
Impatt of covid-1912019.. £144.976- 2018.. £509.979- 2017: £178.1281. This surplus was somewhat lower than budEeted but
was nevertheless sufficient to enable the school to continue wwth its debt reduthon programme and to preserve a stable
financial plarform from whith to manage the possible k)nBer-term financial effects of the covid-ly pandemlc.
As regards the current 2020121 acadernic year. pupil numbers at the start of the year were slightly down at 20912019.. 2191
due to disruptlon to admissions activity during the summer 2020 temi consequential to the pandemic. Moreover. costs have
been elevated during the current year due to necessary operational adjustments to keep pupils. staff and visitors as Safe as
possible whilsr the school did not increase the level of the school fee in 5UPPOrt of its parent body. Nevertheless, the school
was able to aBain budget for a srnall surplus though there was very significant untertainty regarding the operational impact of
covid-19 in advance of the commencement of the year. This uncertainty crystallised in numefOUS and ongoing operational
h3nge5 including a second period of siie closuie during the Lent term. However the school has been able to navfjgate these
challenges successfully to date and is on target to finish the year with a small surplus.

THE COUNCIL OF MILTON A8BEY SCHOOL LIMITED
GOVERNORS REPORT INCORPORATING THE STRATEGIC REPORT AND THE DIRECTORS REPORT
FOR THE YEAR ENDED 31 AUGUST 2020
FACILITIES DEVELOPMENT AND FUTURE PLANS
The school takes è balanced approach to the caie of the fabric of the site and the requirement for ongoing enhancement and
development of new facilrties. Through cost-effective and high quality rnaintenaThce support services we aim to sustaSn and
enhance the facilities at Milton Abbey for the benefit of pupil< education. weffare and wider developrnent taking careful
ccount of cost and using a mix ol self-help and contractor support.
We have also addressed the need fw strategic development of the site through establishment of an Estate Development Plan
as a framework to provide for the accornmodalion. exlra-curricular and academic facility requirernents forthe sthool. now
and for the future. Fundraising is undertaken to supplement resources available from ¢)perating cashflowsand from external
finance where appropriate.
RESERVES POLICY
Milton Abbe¢s policy Is that unrestricted ￿SerVeS should not be accumulated from year to year otherthan in anticipation of
an identified capital project and that. save to the extent they are required to meet the school's debt repayment obligation5.
any Surpluses generated from the running of the school will be invested in developin8 its buiklin85 and inFfastructure. The
school therefore hold5 limited free re5erve5.
The Group's Unre5tri￿ed fund5 st￿d at £2.346.657 (including a reYdluatw)n gain of £1.988.5921 at the year-end12019-
£2,080,211). These were wholly deployed as part of the schooys premises and equipment. supplemented by appropriate
working capital faulities.

TH£ COUNCIL OF MILTON ABBEY SCHCIOL LIMITED
GOVERNORS REPORT INCORPORATING THE 5tRATEGIC REPORT AND THE DIRECTORS REPORT
FOR THE YEAR ENDED 31 AUGUST 2020
ATEMENTOF GOVERNORS. RESPONSIBILrriES
The Governors Iwho are èlso directors of The Council of Milton Abbey School Limited for the purposes of company lawl are
responsible for preparing the Govemors. Annual Report and the Financial Statements in accordance with applicable law and
Unlted Kin8dom Accounting Standard5 (United KinBdom GenerallyAccepted Accountine prattl￿).
Cornpany law require5 the GoveTnor5to prepa￿ finanoal.statements for each financial year which give a true and fairwew of
the state of affairs of the chariiable company and the group and of the incoming re50urce5 and application of resources.
Includin8 the income and expenditure. of the charitable 8ioup for that period. In preparing these ffinancial 5tatement5, the
Governor5 are required to=
- selett suitable accounting policies and then appfy Ihem con5iStentty;
- ob5eThe the methods and principles in the Charities SORP,.
- make judgments and esEimates that are reasonable and prudent;
- state whether applicable UK Accounting StandariJ5 have been followed, subject to any material departures
disdosed and explalned in the financial statements,. and
- prepare the financial statements on the going con￿rn basis unless it is inappiopriate to presume that the
tompany will continue in busines
The Govemors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the
financial position of the charitable company and enable them to ensu￿ that the finantial statements comply with th
Companies Act 2￿6. They are also responsiNefor Safeguarding the assets ofthe Charitable Company and the Group. and
hence for taking reasonab￿ steps for the prevention and detection of fvavd and other irregularits"es.
In so far as the Governors arè aware-.
there is no relevant aL￿[t information of which the charitable companTrKs auditor is unaware.. and
the Governors have taken all step5 that they ought to have taken to make themselves aware of any relevant audit
information and to e5tabli5h that the auditor is awa￿ of that infomation.
The Governors are responsTble for thp maintenance and integrity of the corporate ond financial information Ircludecl on the
charitable company's website. Legislatton in the United Kingdom governing the preparation and dissemination of financial
5taiements May differ from legislation in other jurisdrttions.
AUDITOR
In accordance with Section 485 of the Companies Act 2W6, a resolution proposin8 the re appointment of Ward Goodman
LSmited as audltors to the company wa5 Put to Governor5 and approved on 12 May 2021.
The Trustee5' Report incorporating the Strategic and Dirertor< Reports was approved by the Board of Governors ofThe
Council of Milton Abw School Limited on 12 May 2021.
and Signed on its behalf bv..
l G Bromilow
Chair of Governors
io

REPORTOF THE INDEPENDENT AUDITORSTOTHE MEMBERSOF
THE COUNCIL OF MILTON ABBEY SCHOOL UMITED
Opinion
We have audited the consolidated financial statements of Council of Milton Abbey School Lifflited and itSi¥ading subsidiary
Milton Abbey School Service5 Lirnited I'the B¥oup'l forthe year ended 31 August 2020 on pages 14 to 32. The financial
reporting framework that has been applied in the4r p￿paratIOn is applicable law and United Kingdom Accounting Stand3rd5
(United Kingdom Generalty Accepted Accounting Practi￿>.
In our opinlon the financbal statements=
give a true and fair wew of the state of the group'5 affair5 as at 31 Avgust 2020 and of its incoming resources and
application of resources. includinE its incorne anlkexpendtlure. for the year then ended-
have been properly prepared in accordance wth Unlted Kingdom GenerallyAccepteiJ Accounting practi￿.. and
have been prepa￿d in actt>rdance wrf(h the reqUi￿rnents of the Companies Art 2￿6.
Basis of opinion
We condutted our audit irn accordance wilh International Standards on Auditing IUKI IISAS IUKII and applicable law. Our
responsibilities under those standards are further de5tribed in the Auditors respofjsibilities for the audit of the financial
5taiements section of our report. We afe independent of the charitsble company in accoTdance with the ethical requirements
that are relevant to our audit of the financial rtaternents in the UK. includlng the FRC'S Ethical Standard. and we have fulfilled
our other ethical responsibilitie5 in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for Ouf opinion.
Conclu5ion5 relatingto goin8 cOtt￿rn
We have nolhing to report tn respecl of the following matters in relation to which the1&4s IUKI require us to
report to you where..
the trustees, vse of the goi￿ concern basis of accountlng in the preparation of the financial staternents is not
appropriate- or
the trustees have not di5c105ed in the financial statements any identified material uncertainties that may cast
signrficant doubt about the Eroup's ability io continue to adopt the going cOn￿rn basis of accounting for a period
of at least twelve months from the date when the financial statements are authorised for issue.
other information
The trustees are re5pon5ible for the oiheT ipfoTmation_The other inforrnation CDrnPri5es the information included in the
annual ￿part, other than the linancial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial Statements does not cover the other information and we do not express any form of assurnnce
conclusion ihereon.
In connettion with our audit of the financial s￿teMents. our responsibility is to read the other information and. in dolnK so,
consider whether the other information is materially incon515tent with the financial statements or our knowledge obtsined In
the audit or otherwise appears to be materialty missrated. If, based on the workwe have performed. we conclude that there
is a rnaterlal mF5Statement of this other inforrnation. we are required to rewjrt that fact. We have nothing to report in this
regard.
Oplnion on other matters prescribed bythe Compan*s Art 2006
In our opinion, based on the work undertaken in the couise of the audit..
the Information given in the Report of the Trustees for the fi.nancial year for which the financial statements are
prepared 15 consistent with the tinancial statements: and
the Report of the Tru5tee5 h35 been prepared in accordancewith applicable legal requirements.
li

REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERSOF
THE COUNCIL OF MILTON ABBEY SCHOOL LIMITED
Key audit matters
The impact of COVIO-19 on the UK economy has been significant. The trustees of the group have taken stepsto address
Issues arising from the pandemic and to mltigate the financial impart on the group.
Asthe pandemic Spread across the UK, It became dear that the School would be required to temporarlly close its physlcal site
to protert pupils. staff. visitors and due to goverrbment advice. The trustees rEactet1 by making arranKements alongside the
group'5 senior management tearn forthe group to continue delivering its tharitable objettives and aims using online sy5tem5
tfntil such time as the school sr(e could be reopened safely. Where not required to deliver the school's online learning
programme Of for other essential roles. a number of staff werefijrloughed using the governmenV5 job retention 5cherne. This
financial assi￿anCe enabled the trustees io redu￿ the school fees for the summer 2020 term both in compensation for the
lack of access to the schoofs physical faciif(ies and to provide fi'nancial assistance to contracted fee payers during the initial
period of disruption due to COVID-19. Managernent accounts 5howthat these measures havE enabled the group to continue
operating at a net surplus though ar a lower level than budgeted.
The group has cornmitted long term loan facilities together with a £1.5millKJn overdraft facility that have been adequate to
meet the group's working capital requivements 51nce the start of the pandemic. The trustees have arranged for the
produttlon ot cashflow forecasts which indicate that existing facilitie5. together with available working capital management
strategie5. will provide adequate working (apital forthe group. even in the event of Seve￿ disrnption due to covid-19 over
the next 12 months.
The audit was cornpleted remotely forthe year ended 31 Au8USi 2020 in line woth the UK 8o¥ernment Coronavirus guidline5
and our audlt work was not disrupted Sn any way. We can condude that there are no other key matters associated with this
audit.
Mattets on which we are requlred to report by exception
In the light of the knowledge and understanding of the group and its en￿ronrnent obtained in the course of the audit. we
bave not identified material misstatements in the Report of the Trtsstees.
We have nothingto report in respeLt of the following matters where the Companies Act 2006 requires us to reportto ytsu if.
in our opSnlon:
adequate accounting records have not been kept or returns adequate for (wjravdtr have not been received from
branches not visited by us,. or
the fjnandal statements are t￿t in agreement with the acc¢Junting records and retum5,' or
certaln disclosures of trustee5' remuneration specified by law are not made." or
we have not receNed all the information and explanations we require for our audit.
Responsibllttles of trustees
As explained more fully in the Statement of Trustees Responsibilities set out on page 8, the trustees Iwho are also the
directors for the purposes of company lawl are responsible for the preparation of the financial statements and for belng
5atislied that they give a true and tdir wew. and for such internal control as the trustees determine is necessary to enable the
p￿pa￿t10Th of financial ststernents that are free from material misstatement. whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group's abilityto continue as a going
concern. disclosin& as applicable. matters related to going concern and using the going concern basis of accountSng unless the
trustees either Intend to liquidate the group or to cease operations. or have no ￿alIStiC alternative but to do so.
12

REPORT OFTHE INDEPENDENT AUDITORSTO THE MEMBERS OF
THE COUNCIL OF MILTON ABBEY SCHOOL LIMITEO
Our responslbllltiesfor the audit ot the financial statements
Our oblectives are to obtain reasonable assurance about whetherthefinancial statemenis as a whole are free from material
misstatemenL whether due io fraud or error, and io issue a Report of the Independent Auditorsthat includes our opinion.
Reasonable a55urance is a htBh level of a55urance. but is not a guarantee that an audit conducted in accordance with ISAS IUKI
will always detert a material misstatement when rt eMists_ Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to infiuence the economic decisions of users
taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the finanoal ststements is located on the Financial Reportin8
Council's website at vxww.frc.¢)rg.ukl3uditor5responsibilities. This destription forms part of tyJr Report of the Independent
AudStors.
Mr l Rodd BSC FCA FCCA (Senior Statutory Auditor)
for and on behalf of Ward Goodman Audit Ser¥ices Limited
Statutory Auditor
4 Cedar Park, Cobham Road
Ferndown Industr¢al Estate
Wimborne
Dorset
BH217SF
Date:
13

THE COUNCIL OF MILTON ABBEY SCHOOL LIMITED
CONSOLIDATED"STATEMENT OF FINANCIAIAcnvinES INCORPORATING THE INCOME AND EXPENDITURE ACCOV
FOR THE YEAR ENDED 31 AUGUST 2020
Endowed RestrKied Unrestricted
Toial
Total
2020
2019
Income
Donations. grants and legacies
3.265
437,261
440,526
42.096
Income from charilable activ(ties,'
School fees
6.550.596
190.865
6.550,596
190,865
6,912,928
319,513
other eflucational Income
8iomass ￿bateS
43.721
43,721
71,713
Income from generated funds-
Non ancillary trading income
26.949
26.949
243,589
Investment Income
33.842
33,842
37.622
Yotsl Income
3365
7.283234
7.286.499
7.627.461
Expenditure
Costs of raising funds..
Non anollary trading expendÈture
Fundrnising costs
Financing costs
130,6061
I30,￿)
1109,7001
1931
IS63.6491
1427.2821
1427,2821
Expenditure on chafltable activities;
Education and grant making
Bad and doubtful debt provisioning
16.172.581)
1420.5681
16,172.6111 16.664.303)
1420.5681
1144.7411
Total expenditure
Net income lexpenditurel prè prowsionin
Net income lexpenditurel
17.051.037)
652,765
132.197
17A151.0671 . 17.482.486)
656,IXKI
Z89,717
235A32
144.976
3.Z35
3.235
Transfers between funds
Net movernent in funds
Total funds brought forward
Total funds carried forward
134,2491
131.0141
361A64
330.450
34.249
266,446
2,OBO,ZII
2,346.657
235.432
2,554,533
2.789.965
144,976
2.409,557
2,554,533
15.16
15.16
112.8S8
112,858
All incomè and expenditure are derived from continuing attivit￿. There is no differell￿ belween the Ststement of Financial Activitte5
and the Income and Expenditure Report.
Company No 00532474
Registered Charity No 306318
The notes on pages 18 th 32 form part ofthese accounts.
14

THE COUNCIL OF MILTON ABBEY SCHOOL LIMITED
CONSOLIDATED BALANCE SHEET
FOR THE YEAR ENDED 31 AUGU5T2020
2020
2019
Nott5
Fixed Assets
Tangible assets
io
11.478.946
11.556.051
CurrentAssets
siocks
li
47.295
271,451
182,945
50¥691
45.714
283.769
447.241
776.724
Debtors
Iz
Cash at bank and in hand
Creditors: Amounts falling due within one year
13.358.347)
13,592.0391
Net Current ILiabilitiesl l AMets
12.8S6.6S61
{2.815.3151
Total Assets le￿ Current liabilities
8.622,290
8,740,736
Creditors: Amounts falling due after rnore than one year
14
15.832,3251
16,186.2031
Net Assets
2.789,965
2,554.533
Financed By.. Funds
Endowed
Restricted
Unrestricted
Revaluation (forms parr of unrestrfcted funds)
Totsl unrestricted
15.16.17
112,858
330.450
112.858
361,464
358.06S
1.988.592
91.619
1.988.592
2.346,657
2,789.965
2,080.211
2,554,533
These accounts were approved and authorised for issue bythe Board of Governor5 on 12th May 2021
and signed on its behalf bv..
Mr l G Bromilow
Chair of Governors
Cornpany No 00532474
Reeistered Charity No 306318
The notes on pages 18 to 32 forrn part ofthe5e accounts.
15

THE COUNCILOF MILTON ABBEY SCHOOL LIMITED
COMPANY BALANCE SHEET
FOR THE YEAR ENDED 31 AUGUST 2020
2020
2019
Notes
Fijred Assets
Tangible assets
Investment in subsidiary
io
11.472,058
11.547,648
IIA72,059
11.547.649
Current Assets
Stocks
li
47.295
269.577
174,777
45.714
279.048
418.052
742,814
Debtors
Iz
Cash at bank and in hand
491.649
Creditors: Amounts falling due within one year
14.170.663)
13,550.7271
Net Current ILlabilitie51 l A55ets
I3￿79.014)
{2.807.9131
Total Assets le55 current liabilitie5
7.793.045
8.739,736
Creditors: Amounis falling due after more than one year
15,003.7701
16,186,203)
Net Assets
2.789.275
2.553,533
Finan¢ed By.. Funds
Endowed
Restricted
Unrestricted
Revaluation (forms part of unrestricted reserves)
Total unrestricted
16.17
112.858
330.450
112,858
361,464
3S7.375
1.988,592
.619
1,988.592
2.345.967
2.789.275
2,079,211
2,553.533
These accounts were approved and authorised for issue by the Board of Governors on 12th May 2021
and sSgned on Its behalf by..
Mr l G Bromilow
Chairman of Governors
Company NoOO532474
The notes on pages 18 to 32 forwn part of these accounts.
Registered Charity No 306318
16

THE COUNCIL OF MILTON ABBEY SCHOOL LIMITED
CONSOLIDATED CASH FLOW STATEMENT
ASAT31 AUGUST 2020
Note
zozo
2019
Net cash flows from operatingactivitiÈs
Interest paid
865.992
1427.2821
1.493.599
1563,6491
Cash flows from investing artivotles
Purchase of equipment
Disposal of property
Interest received
1143,1171
150
33.692
1221,2091
20,967
32,030
Net cash flow5 from in¥esting acliMtie5
1109.2751
1168,2121
Cash flows from finan¢inR activltks
Repayment of borrowings
Repayment of borrowings under finan¢e Itase
New borrowings under finance lease
New loans raised
Income from fee arran8ement schemes
utillsed fee arran8ement schemes
14.535.3￿)
120.2221
154.OLK)I
4,500,(K)O
125,1)03
1,125,288
11.484.677) 11.385.639)
114,9641
178.848
Net Cash flow5 from financing a(ti¥ibes
11.469,1961
196.467)
Net intreaselldecreasel in cash and cash e4uNalents
11.139.761)
665,271
Cash and cash eqvlvalents at the beginning of the year
447.241
1218.0301
Cash and cash equivalents atthe end of the year
169Z,5ZOI
447.241
Reconciliation to cash at baftk and in hand:
Cash at bank and in hand
Bank overdraft5
182,945
1875,4651
447.241
Cash and cash eguwalents
1692.S201
447241
Company No 00532474
Registered Charity No 3C6318
The notes on pages 18 to 32 form part ofthese accounts.
17

THE COUNCIL OF MILTON ABBEYSCHOOL LIMITED
NOTES TO THE CONSOLIDATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2020
I ACCOUNTING POUCIES
al Legal form
These accounts present the consolidated information of The Council of Milton Abbey School knmited. a registered charity
13063181 and a limited company incorporated in England and Wèles ICrf)S324741 and its Whol￿ owned subsidiary. Milton
Abbey School Services Limited, a limlted company Incorporaied in England and Wales1043387711. Both entlties have the
same regISte￿d office- MI￿On Abbey School. Milton Abbas. 81andford Forum, Dorset DTII OBZ.
bl Accounting convention
The financial statements have been prepared in awjrdance with Accounting and Reporting by Charities= Statement of
Recommended Practtce applicable to charitses preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeuive l January 20151- (Charities S()RP IFRS 10211, the
Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 20C6. Under
FRS 102. the charitsble company is a public benefir entity.
cl Going concern
The fjovernors have presented a business plan incorpoF3ting foretastfinancial information throueh to 31 August 2022
that reflects their viewthat the finanrlal sratements can be prepared on a eoin8 cOn￿rTh ba51&
dl Basis of consolidation
These accounts consolidaie the School and its subsidiary undertaking Milton Abbey School Semces Limited to 31 August
2020. all inter group sales ènd profits have been eliminated on consolidation. The Group ha5 taken advantage of section
408 of the Companies Att 2C¥J6 by not providtng a separate statement of financial actlvities forthe subsidiary. Net
incoming resources attributable to the subsidiary a￿ £nil12019- £145kl.
el Tangible fixed assets
Tangible fixe¢J assets otherthan freehold land and buildings are measured under the cost model. freehold land and
buildings are measured under the revaluation moLlel. Items below £500 are not capitslised.
No depreciation is provided in respect of freehold land. Depreciation of other tangible aS$￿S is chaoed by annual
instalments at rates estirnated to write off their cost or valuation less any residual value over their expected vsefJl lives.
Depreciation is not charged in the year of 3cqui51tion. The rates used to estimate these lives are..
- Freehold buildin8s Iheld for the charivs usel 0% to 20%stialght line
Fixtures. fittings and equipment 5% to 33% straight line
Depreciation 15 calculated on a comts"nation of the written down value and straight line basis depending on the most
appropriate method for the respective asset or group of assets.
During the year to 31 August 2017 properties were revalued. resulting in a gain on revaluation of £1.608,311. The trustees
consider the market value to be at least equal to the future residual value of the property and therefore the property will
not be depreoated further. This will be re8ularty ￿￿ewed.
Company No 00532474
Re@￿tered Charity No 306318
18

THE COUNCIL OF MILTON ABBEY SCHOOL LIMITED
NOTES TO THE CONSOLIDATED ACCOUNTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
I ACCOUNTING POLICIES Icontinuedl
l) Stocks
Stocks are stated at the lowei of cost or net realisable value.
Bl Fees and similar income
Fees ￿CeiVable a￿ stated after dedurtlng bursaries. scWarships an(J other remissions granted by the School, but include
contrlbutions received-frorn Restricted Funds for Scholarship5 and Bursaries. Where fee5 are paid in advance. the incorne
is deferred until the term to which it ￿lates. These deferred amounts3￿ shown on the balance sheet wr(hin creditors..
amounts falling due within one year and in rnore than one year.
h) Pension costs
The School contributes to theTeachers' Pensitin Scheme. a multi employer defined benefit scheme at the advised rates.
The School's contributions to the scheme are charged in the accounts as they accrue_ The School also contributes to
personal pension sthemes or to an occupational musti ernployer defined contribution scheme for non-teaching staff. The
latter is administered by The Pensions Trust and the School contributes at rates set bythe Trust. Contributlons payable for
the year are charged in the accounts as they accrue.
In accordance ￿th section 28 of FR5 102. the defined benefit schemes are accounted for as delined contribution schemes,
as they are both multi ernployer schemes and it 15 not possible or approp¥iate to itjentify the assets and liBbilitie5 of the
schemes which are attributable to the School.
l Resources expended
Expenses are charRed Èo the statement of financial acliwtbe5 on an accnjals basis. Expendrture is allcKated to lunctlonal
headings either on a diTect t05t basis or apportioned accordingto time spent.
Costs of generating fund5- include all fund raising and finanang 5VPPOrt Costs.
Charitable attivities- include all costs relating tothe provision of educatw)n and running of the School. Govemance costs-
include audir fees and Governors. expenses.
The irrecoverable elemerÈt of VAT 15 included wth the item orexpen5e in whKh it relate&
jl Voluntary incorne and government grant5
Donation5 received forthe general purpose of the Scht)ol are credited to unre5tri¢ted funds. Donations for purposes
restricted by the wishes of the donor are taken to restsirted funds.
Government grants shall be recognised on the Statement of Financial Activities on a systematic basis over the periods in
which the entity recognise5 as expenses the related costs for which the grants ore intended to compensate.
kl Funds
Restricted fund5 comprise income funds subject to restrÈctions arising either from the donorf5 wishes or the term5 of a
particular fund raislng initiative.
Unrestritted fur￿5 comprise the School's Beneral funds. which are expendable at the discretion of the Governors.
Expendable endowed funds comprise income funds arising from a charitab￿ Trust. The capital of the funds cannot be
spent without GDvernor approval. Income arising on the endowment fvnd (called Foundation Fund) is treated as
restrlcted Income in the School.
Company No 00532474
Registered Charity No 306318
19

THE COUNCIL OF MILTON ABBEY SCHOOL LIMITED
NOTES TO THE CONSOLIOATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDE031 AUGU5T2020
I ACCOUNTING POUCIES Icontlnuedl
il Taxation
The School is a registered tharity and as such is entitled to certsin tsx exemptbons on surpluse5 on any tradin8 artivities
(arried on in furtherance of the School's primary objectlves.
ml Operating leases
Rentals payable under operating12ases are charged to the ststement of financial artiwt￿s on a straight line basis over the
period of the lease.
nl Grants and bursaries
Grants and bursèries from restritted funds are included as expenditure in the period for which the award Is given.
Bursaries and allowances from unrestrirted fundstowards School fees are treated as a redurtion in those fees.
ol Recognition of assets
Trade debtors, other debtors, intercompany debtors and %uued income are recognised at the settlement amount due
after any trade discounts have been offered. Prepayments are valued at the amount prepaid net of any trade discount
due.
pl Recognition of liabilities
Credilors and provisions are recognised where the School has a present obligation re5utting from a past event that will
probably result in the transfer of fund5 to z third party and the amount due to settle the obligation can be measured or
estSmated reliably.
ql Fixed a55et valuation
The Mansion House. xhwl buildings. land and staff accommodat￿ were valued on 23 August 2017 at E9.1m.
rl Grant making
Thi5 year. the value tsf scholarships. grants, prizes and other awards madeto the schoofs pupils out of unrestricted funds
totalled £760,35612019.. £596.3031. The Governorfs policy. in line with that of other Independent Schools. is to make
these awards on the basis of the individuafs educational potential. The￿ is a policy to relieve hardship where the pupils.
education and future prospects would otherwise be at risk. 5ubjett to the particular conditions imposed by the original
donor where the award is out of restricted funds.
51 Reserves
The Group's uftrestricted funds stood al £2.346.657 at the year end12019.. £2.080.2111 (including a revaluation reserve of
£1.988.S9212019= £1.988.5921.
The Governors consider that free reserve5 of approximately £1 million or months, expenditure are desirable in order
to cover the risk and uncertainties of operating as an independent e(lucational establishment. The policy is therefore to
mana8e the school such that reserves at this level are maintained.
Company NO ￿531474
Registered Charity 140 3￿318
20

THE COUNCILOF MILTON ABBEY SCHOOL LIMITED
NOTES TO THE CON50LIDATED ACCOUNTS ICONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
I ACCOUNTING POLICIES Icontinuedl
In the application of the company's accounting policies. which are described above, the direttors are required to make
judgements, estimates and assumptions abC￿rt the carryin8 amounts of assets and liabilitiesthat are not ￿adI1¥ apparent
from other sources.
These estimates and associated assumptions a￿ based on historical experience and other fattors that are considered to
be relevant. The estimates and underlying assumpiions are reviewed on an ongoing basi5. Revislonsto accounting
e5tirnate5 are recognised in the period in which the esiimate 15 rewised if the revision affects only that period or in the
period of the r￿slon and fu￿re periods if the ￿￿1$10n affects both current and future period5.
The following paragraph describes the critical ju(Igements, apart from tlTrose involving Èstimate5 (dealt with separately
below). that the directors have made in the process of applying the company's accountin8 policies and that have the most
Sl8nffjKant effett on the amounts recognised in the finanoal statements.
The only Significant judgement relatesto the provision of bad Llebts.
The following are a￿aS th* are consideied to be key sources of estimation uncertainty.
L15elul life and residual values of tangible fixed assets. The carrying value of tangible fixed assets at 31 August 2020 ts
£11,478,94612019.' £11,556,051).
ul Financial instnjments
Basic financial liabilities. including trade and other payables. bank loans, and loans from group companies a￿ InStlally
recognised at transartion price. Financial liabilities due in more than one year are initially measured at transaction price
and subsequently measured at amortised cost using the effectwe Inte￿$t method.
Financial liabilities constltutln8 financing transactions are initially rneasured at the present value of the future payments
discounted at è market rate of interest.
De-reco8nition of financial assets and liabilities.
Financial assets and liabilrties are derecognised when the charity's contrartual rights or obllgatlons expire or are
dlscharged, transferred or cancelled.
Financial instnjmenis a￿ recognised In the balance sheet when the company become5 party to the contractual provisions
of the instrurnent.
Basic financial asset5.'
Basic financial assets. which include trade and other receivables and cash and bank balances. are Inliialty measured at
transaction price inclvdin8 iransartion costs. Financial assets due in more than one year are subsequently carried at
arnortised cost using the effettwe interest method vnles5the airangement constitutes a financing transaction, where the
transattion is measured at ihe present value of future receipts discounted at a market rate of interest.
Cctrnpany No 00532474
Registe￿ a)arity No 306318
21

THE COUNCIL OF MILTON ABBEY SCHOOL LIMITED
NOTES TO THE CONSOLIDATED ACCOUNTS ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST2020
2 NETINCOME
2020
2019
This is stated afterchargin8 the followin8'.
Depreciation-owned
Auditorfs remuneration
264.890
15.275
1.905
427.282
7.667
44.445
246,059
14,975
1,860
563,649
Audit
other services
Interest payable
Loss on disposal of assets
Operating lease charge5
59.SSI
3 INVESTMENT INCOME
2020
2019
Gain on sale of fixed assei
Interest and charges levied on late school fees
5.592
32.030
37,622
33.692
33,692
4 STAFF NUMBERS AND COSTS
The average number of persons Ifull time equivalentl. excluding Govemors and visiting staff. including part-time staff. employed by
the School during the yearwas as follov4s.'_
2020
2019
Teaching staff
Adrnini5tration staff
51
56
25
24
Maintenance staff
Domestic staff
li
12
24
30
iii
122
The aggregate payroll costs of these persons were asfollows=.
20ZO
2019
Wages and salaries
Social security costs
Pension contributions
3.297.696
29J.642
433,750
4.022,088
3.?23,817
325.885
326.759
4,376,461
Included irb the above figures is £nil in respect of severnnce and redundancy payments12019.. £97.7661.
Durin8thE year the Governors received £Nil12019= £Nill ￿MUneratIon and no reti￿￿￿nt benefits were accruing. Governors
ceived relmbursed out of pocket expenses of durin8 ihe year of £98012019= £1071.
Durin8 the year employees. salaries in excess of £60.OCX) were in the ranges."
2020
2019
£60.001- £70.OCXJ
£70.IJ)1- £80.ocIJ
£80.1J)1- £90.000
£9C>,CM)i- £iOO.000
£ioo.¢J)o- £iio.rxJo
Contributions of £38.49212019= £31.0801 We￿ made to pen&on schemes in ￿SpeCt of the above higher paid employees.
22

THE COUNCILOF MILTON ABBEYSCHOOL LIMITED
NOTES TO THE CONSOLIDATED ACCOUNTS {CONTINUED)
FOR THE YEAR ENDED 31AUGUST 2020
4 STAFF NUMBERS AND COSTS Iconknnuedl
Key management personnel salaries for the year tOtal￿d £484,06212019.. £549.0901. The Governors consider the key mana8ement
personnel during the year to be;
Headteaeher- Judtth Fremont-Barnes
Senior Deputy He3d- Matthew Porter
Finance Director- sieve Lane
Head ol Operations- Tracy Edwards
Deputy Head Pastoral- Ruth Butler
Deputy Head Academic- Stephen Phillips
Deputy Head Co-Curricular- Chris 8arnes
Head of Admissions- C13ire Low
S SCHOOL FEES
2020
2019
Fees receivable consist of=
Gross fees
Les5 bursaries, scholarships and rernissions
7.407.348
1856,7521
6,550.596
7.693.085
1780,1571
6,912,928
£420.58612019." £144,7411 has been provided for as irrecover3tAe trade debts.
6 OTHERINCOMÉ
2020
2019
Othereducational iTrcome'.
Entrance and registration fees
Extra tuition and learnin8 SUPPOrt income
Tuck shop income
other trading iftcome
30,166
132.776
23.563
4.360
40,689
221,291
53.332
4.201
190,865
319,513
Biomass income..
Rebates for renewable energy overproduction
43.721
71.713
43.721
71.713
Non ancillary trading income:
MASS trading income
26.949
243,589
26.949
243.589
See note IS fr)r donations Incorne
23

THE COUNCIL OF MILTON ABBEY SCHOOL IIMITED
NOTES TO THE CONSOLIDATED ACCOUNTS {CONTINVEDI
FOR THEYEAR ENDED 31 AUGUST 2020
7 TRADING INCOME AND TAXAYION
The School owns 100% of the £1 ordinary share capital of Milton Abbey School SeNces Limited1043387711, which offers use of the
school site and faci5ities for the purpose of lettings. weddings and other commerci31 purposes, prirnarily during the school holiday
perSods. It glfts itstaxable profits tothe School. Its trading re5vIts. extratted from r(s audited accounts were-.
2020
2019
Turnover
C05t of sales
26.949
16.1201
243,589
159,8221
Gross profit
Administrative expenses
20,829
12L1391
183.767
159,7361
Operating profit
Interest receivable
13101
124.031
Profrt on ordinary activities
Gift Aid to The Council of Mllton Abbey School Limlted
Tax charge for year
Retained profitl Ilossl for the year
13101
124.031
1124.0311
Net asset/ liabllities
13101
i.ooi
During the year Milton Abbey Sthool Service5 ￿rnited paid a totrl of £nil12019= £124,031) to The Council of Milton Abbey School
mited. which induded £nil12019". £124.0311 oFEIft aided proffts.
8 ANALYSIS OF TOTAL RESOURCES EXPENOED
5tsff
Otlrer Depreciation
Tot?1
Total
2020
2019
Charitable Actiwties:
Teachsng
Welfare costs
Prerni5e5 costs
1,938.859
678.631
471,355
906,462
313,630
169,436
743,652
685.696
420.568
2.332.982
264,8
2,517.379
848.067
1,215.007
1,592,158 '
420,568
6,593,179
2,720,924
1,121.231
1,487.313
1.334.835
144.741
6.809,044
Support costs of schoolSng
Provision for irrecoverable debts
3,995.307
264.890
Costs of generating fund5'.
Non ancillary trading expenses
Fundraising costs
Financing expenses
30,606
30.606
109,700
93
563,649
673,442
427.282
457.888
427,282
457.888
Total resources expended
3.995.307
2.790.870
264.890
7.051,067
7,482.486
Durlng the ye3rtO August 2020 an amount of £15.27512019= £14.9751 wa5 paid to the statutory auditor5 for audSt fee5.
24

THE COUNCIL OF MILTON ABBEY SCHOOL LIMITED
NOTES TO THE CONSOLIDATED ACCOUNTS {CONTINUEoI
FOR THE YEAR ENDED 31 AUGU5T2020
9 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Endowed Restrkted Unrestrirted
Total
2019
Income
Donations and legacies
33,249
8.847
42,096
Incorne from charitable activities..
School fees
other edvcational income
6.912,928
319,513
6.91Z,928
319,513
Blomass rebates
71,713
71.713
Income from generated funds,.
Useful life and residval values ol tangible fixed assets. The carrying
value of tangible fixed assets at 31 August 2019 15 £11.556.05112018.. £11.582.4181
243.589
243.589
InvÈ5tment income
37,622
37,622
Total Incom?
33249
7.594.211
7.627A61
Expenditure
Cosis of raising funds..
Non ancillary trading expenditu
Fundraisin8 costs
Finanang costs
Expenditure on charitalJle attivities:
Education and grant Ma￿n8
8ad and doubrful debt pro￿$10￿1n8.
1109,7(M)I
1931
1563.6491
{109.7001
1931
1563.6491
1301 16,664.2731 16.664.303)
1144,7411
1144.7411
Total expenditure
Net income (eMpendr(u￿I pre prowsionlng"
Net Income lexpendlturel
1301 17.482A56) 17.482.486)
33.219
256,498
289.717
33.219
111,757
144.976
Tran5fer5 between funds
Unreallsed gain on revaluation of fixed assets
Net movement in funds
Total fund5 brou8htforward
Total fvnds Carried fonvard
33,219
328.245
361.464
111.757
1,968,454
2,080.211
144.976
2,409.557
2,554.533
112.858
112.858
25

THE COUNCIL OF MILTON ABBEYSCHOOL LIMITED
NOTES TO THE CONSOLIDATED AccouTr¥fs (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
10 FIXED ASSEfs- GROUPANO COMPANY
TANGIBLE FIXED AS5ET5
Freehold
Land and
Byildrngs
Biomass
Fixtures
Fittings &
Equipment
School
Subsidiary
Trading
Company
Group
Total
Total
Cost
At I Septefflber 2019
Additions
Di5POsals
9.112.(0)
26.059
1.734.332
2.744.226 13.590.558
171.058
197.117
142,7371
142.7371
44.568 13.635.126
197.117
142,7371
At 31 August 2020
9.138.059
1.734.332
2.872,547 13.744.938
44.568 13,789,506
Oepreciatio
At I September 2019
Charge for the year
0i5P05als
At 31 August 2020
227,761
69,373
1,815,149 2,042,910
195,517
264,8g)
134.9201 134.9201
1,975,746 2,272,880
36.165
1.515
2.079.075
266.405
134,9201
2.310,560
297,134
37,680
Net Book Value
At 31 August 2019
9.112.IXX)
1.506.S71
929.077 11.547,648
8,403 11,556,051
At 31 August 2020
9.138.059
1.437.198
896.801 11.472.058
6.888 11,478,946
The freehold land and buildings. induding the Manor House. were valued by Chrisiies on 8 October 2014 at £8tn and by Carter
Jona5 on 23 Au8USt 2017 at £9.Im on an existing use basis. In 2017 3 gain on revaluatiTr) of £1,608,311 was achieved which
ncreased the revaluatlon Te5erve to £1.988.S92.
If freehold land and buildings had never been revalued. they would be held at depreciated historical cost of £6.556.299.
Assets included above with a net book value of £1.437.198 are vnder HI￿ Purchase a8reement12019.. £1.506,5711.
The hire purchase creditor of £1,335,915 is ￿payable. £640.367 within 5 years and £531,038 In more than 5 years. The
providers of the hire purchase have first charge over the assets.
11 STOCKS
Group
2020
Company
2020
2019
2019
Goods for resale
47.295
45.714
47.295
45,714
26

THE COUNCILOF MILTON ABBEY SCHOOL LIMITED
NOTES TO THE CONSOLIDATED ACCOUNTS ICONTINUEDI
FOR THE YEAR ENDEO 31 AUGUST 2020
12 DEBTORS
Group
zozo
Company
2020
2019
2019
Trade debtors
Prepayments and accrued income
Amounts due frorn Subsidiary undertakin8
VAT
Sundry debtors
86.703
181,175
139.885
141,609
86.227
181.075
135,S20
141.253
1,298
2.275
271.451
2.275
283.769
2.275
269.577
2,275
279,048
13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
2020
Company
2020
2019
2019
Trade creditors
212.484
1,026,965
264.360
95,900
205.036
1.026,965
13,854
122.773
349.19S
2S6.013
95.900
15,392
84,424
80,249
522
Overdraft & bank loans
Amounts due to subsidiary undertaknng
Other credittsrs
139.479
349.195
101.392
80.249
26.805
190,293
2,706,186
126.908
Taxalion and social security
VAT
Accruals and deferred income
Fees in advance. pre temi fees and depO￿ts
Obli8atians underffinance lea
164,637
1,301.077
164.510
158,698
1,301,077
164.$10
185.187
2,706.132
126.908
3.358.347 3.592.093
3.342.108
3.550 727
14 CREOITORS: Amou￿ FALLING DUE AFfER MORE THAN ONE YEAR
Group
2020
Company
2020
2019
2019
Deposits
Advance fee scheme
Bank and other loan5
HSie purchase
298.454
379.413
124,195
4,363.21KI 4.454,100
1.170.671
1.228.495
5.832.325 6.186,203
298,454
379.413
124.195
4.454.100
1,228,495
6,186,203
4,363,2LK)
1,170.671
5.832.325
BANKAND OTHER LOANS
Bank oveidrafts
Due within one year
Due 1-2 years
Due 2-5 years
Due after S yeais
875.465
151.500
95.9
181.81X)
181.800
545.4CIJ
545,400
3,636.0(KJ 3,726,900
5.390,165 4.550.ix)o
875.465
151,51J)
181.8(M)
545.4CKI
3,636,0
5.390.165
95,900
181800
545.400
3.726,900
4.550,000
27

THE COUNCIL OF MILTON ABBEYSCHOOL UMITED
NOTES TO THE CONSOLIDATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31AUGUST 2020
14 CREOITORS: Amouiwfs FALUNG DUE AFfER MORE THAN ONE YEAR Icontinuedl
As security the bank holds a legal charge dated 27 February 2020 over the freehold of Milton Abbey School, the Headmasters
House. Green Walk Cotta8e and AbbeyGarden5 Cottage at Milton Abbey School, Milton Abbas. The market ¥alue ofthe security
at that date was £9.1 million znd the loan represented 48% of this value.
DEPOSITS
Deposits are held from all studeftts and are rèpayable when they leave the Sthool at the normal age.
2020
2D19
Payable wrthln 12 months Inote 131
Payable after 12 months
255,149
298,454
553,603
49,396
379,413
428,809
ADVANCE FEE SCHEME
Parents may enter into a contract to pay to the School tuition fees in advance. The rnoney may be returned subject to specifi
condltions on the receipt of one term's notice. Assuming pupils will remain in the School. advance fees will be applied as
follows..
2020
2019
Within 2-5 years
Within 1-2 years
50.407
73.788
124.195
2,281,317
2,405,512
Withln l year
1,045,838
1.045,838
The balan￿ above represents the acuued liability under the contracts. The movements during the year were=
2020
2019
Balan￿ at I September 2019
New contracts
2.405.512
2,472,857
125.003
1,318.294
11,484,677) 11.385,6391
Amounts utilised in the year
8alance at 31 AuRUSt 2020
1.045.838
2,405,512
28

THE COUNCILOF MILTON ABBEY SCHOOL LIMITED
NOTES TO THE CONSOLIDATED ACCOUNTS ICONnNUEDI
FOR THEYEAR ENDED 31 AUGUST Z020
15 RESYRICTED FUNDS {see note 161
Toby Mann
This fund represents fvnds donated in order to prowde stholarships lor studerits of Mikon Abbey School.
Foundatlon Fund
Thi5 fund represents funds donated through the'Educatin& not just teachiftg. cafflpaign plus income from the expendable
endowed funds donated in orderto provide scholatships for students of Milton Abbey School and general fundraising
as515tanee.
Cricket Equipment Fund
This fund represents funds donated for the purchase of cricket equipment.
Art Gallery and cent￿ Fund
This fund rep￿sents funds donated for the purposes of the Art Centre.
Equestrlan Arena
This fund represent5fund5 donated for the purpose of the development of the eque51rian arenB.
CDuntryside Mana8ement
This fund represents funds donated for the purpose of developing the school's countryside management facilitfjes.
Social Space
This fund represents fund5 donated for the purpose of deveh)ping areas of the school to be enjoyed durtn8 social time and
activities.
16 TOTAL UNRESTRICTED AND RESTRICTED FUNDS- GROUP
Net
in¢omingl
Transfers
loutgoingl Itollfrom
resour￿$ unrestii¢ted
Brought
forward
Incoming
Resources
resources expended
Carried
forward
Toby ManTh
Art Gallery and Centre
CountTysidt M3naeement
Equestrian arena
Social space
Cricket nets
73,963
122,473
126.06S
1.169
6.545
31.249
265
(301
235
74,198
122.473
126,065
1,169
6,545
134,2491
Totsl restri¢ted funds
361A64
3265
3335
1342491
330.450
Unrestricted fund5 IC¢Nnpanvl
pendable Endowed Funds
(Foundation Fund)
2.079.211
7,283.544
(7.051.037]
232.507
34,249
2,345,967
112.858
112.858
Total Funds (Company)
Total Unrestricted Funds Isubsidiaryl
2.553.533
7.286.809
26.949
17.051.0671
127.2591
235.742
13101
2.789.27S
690
Total Funds
2,554.533
7,313,758
17.078,3261
235,432
2.789,965
29

THE COUNCIL OF MILTON ABBEY SCHOOL LIMITED
NOTES TO THE CONSOLIDATED ACCOUNTS ICONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
16 TOTAL UNREsfRicfED AND RESTRICTED FUNDS- GROUP 2019 lcontinued)
Transfers
Itollfrom
Brought
forward
Incoming
resources
Revjurces
expended
Catried
forward
unrestricted
Tobymann
Art Gallery and Centre
Countryside Managefnent
Equesirlan arena
Soclal space
Cikket nets
71.993
122.473
126.065
1.169
6.54S
1.970
73.963
122.473
126,065
1,169
6,545
31.249
31.249
31,249
Total Restricted Funds
328.24S
33249
33219
361A64
Unrestricted Funds Icompanyl
Éxpendable Endowed Funds
IFoundation Fund)
1.967,454
7.S94.212
17.482.456)
111.7S7
2.079.211
112.858
112.858
Total Funds (Company)
Total Unrestrirted Funds lsub5idiaryl
I408.557
7.627.461
243,S89
17.482.486)
1243,S891
144.976
2,SS3,533
1,000
Total Funds
2.409,557
7.871,050
17.726,0751
144,976
2,554.533
Current year and 12 month comparatt¥e5 fry unrestr(cted and restrÈrted funds
Net
IrKomingl
Transfers
loutgoingl Itollfrom
resources unrestrirted
Brought
fowward
IrKomlng
resources
Re50ur¢
expended
CarrEed
.forward
Toby Mann
Art Gallery and tentre
Countryside Mona8ement
Equestrian arena
Social space
Cricket nets
Total Rtsthrted Funds
71.993
122,473
126,065
1,169
6.$4S
2.265
160}
2.205
74.198
122.473
126.06S
1,169
6.S4S
34.249
36.514
34.249
36.454
134,2491
134,2491
328.245
1601
330.450
Unrestricted Funds Icompanyl
1.967.454 14.877,756 114533.4931
344,264
34,249
2,345,967
Expendable Endowed Funds
(Foundation Fund)
112.858
112,858
Total Funds (Companyl
Totsl un￿strICted Fund5 lsubsldiaryl
Total Funds
408557 14.914270 114.533.5531
270,538
1270.8481
2A09557 15.184.808 114.804.401
380.718
2,789.275
690
380.718
2,789,965
30

THE COUNCIL OF MILTON ABBEYSCHOOL LIMITED
NOTES TO THE CONSOLIDATED AccouNfs (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
17 ANALYSIS OF NET ASSETS BETWEEN FUND5 Iconsolidatedl
Unrestriaed Fle¥aluatlon Restriaed Endownment
Totsl
Fixed assets
Current assets
Current liabilities
Long term liabilities
9.479.816
37.907
13.358.347)
15.832,3251
1.988.592
10.538
350,926
11,478.946
501.691
13,358,347)
15,832.3251
112,858
Total assets / Iliabilitiesl
327.051
1.988.592
361.464
112.858
2.789.965
IB RECONCILIATION QF NET INC(IMINfj RE50URCESTO CASH GENERATED OPERATIONS
2020
2019
Net in¢orning resources
235,432
144.976
Adjustment for,.
Dep￿CIatiOn charges
Unrealiseij gain on revaluation of fixed 355ets
IProfitl/loss on sale of fixed asset
Olher Investmeni income
nterest paid
Cash flows before movement in wwking capital
266.405
246.060
7.667
133.6921
427,282
J3,094
15,5921
132.0301
563.649
917,062
Ilncreasel l Decrease in stock
Ilncreasel l Decrease in debtors
Increase / IDecreasel in creditors
Cash generated by operations
11,5811
12.318
147.8391
865.992
711
76.075
499,751
1,493,599
19 OPERATING LEASE COMMITMENTS
At 31 August 2020. the group was committed to making the following payments in respert of operarin8 lea5e5 expirfjnB,'
2020
2019
Within one year
More than I year
44,445
83,231
127.676
59,552
56,161
115,713
31

THE COUNCIL OF MILTON ABBEY SCHOOL LIMITED
NOTES TO THE CONSOLIDATED ACCOUNFS (CONTlhlUED)
FOR THE YEAR ENDEO 31 AUGUST 2020
20 PENSION cosr5
The khool participates in the Teacherf Pension Scheme IEnK]and and Wales) l-the TPS-I, for its teachin8 Staff. This is 3 multi-
employer defined benefits Pef15ion scheme and it is Thot Possible or appropriate to consistently idertify the liabilities of the TPS
which are attributable to the School. As ￿qUired by FRS102. the School accounts forthis scherne as if it were a defined
contribution scheme.
On I September 201S contribution5 were increased to 16.48% and then further increased to 23.68% with effertfrom I
September 2019. Employee rates from l Awil 2015 a￿ varying between 7.4% and 11.7%.
ThE government have Set a gloss t05t ceiling for the main public service pension sthemes of 21.7% with a net cost ceiltn8 of
12.1% and an average employee contribution of 9.6%.
ThE Govemment Actuarfs Department has in a report dated 9 March 2012 conduded that theTPS Agreement stheme deslgn is
within this requi￿6 cost ceiling. This conclusion is dependent on and sensitive to the data. methodology and assumpt10ft5
adopted and further details on these are available in the full GovernmentActuarf5 report which is available on the Department
for Education website.
At the year-end current liabilitie5 includes £45,34712019.. £38.7661 due to the TP5 pension scheme. Contributions inc5uded in
pension costs in the SOFA for the TPS stherne come to £277.￿1 forthe year12019.. £230.9781.
Other pension 5themes
The khool also contribute5 to pension schemesfor its non-teaching staff who are not member5 of the TPS which are'monev
purchase. scheme5 and is to provide beneffits to members on their retiremeat. The cost for the year represents the school's
contrtbutions to the schernes and amounted to E155,84912019-. £95.8011. At the year end current liabilit￿5 include5 £8.630
12019- £nill due to these pensron schemes.
21 REiATED PARTYTRANSACTIONS
All ￿lated party transactions during the year occurred between the charity and its wholly owned subsidiary undertakin8.
Peter 8ond is the parent of a pupil who previou5ty attended Milton Abbey School. Mr Bond provided the Council of Milton
Abbey School ￿rnited with a loan of £ll)O,IXK) on 30 September 2015. Interest at the rate of 3.S% per annum was payable On
the loan. The loan was repayable on 30 September 2020. but was repaid earfy on 25th February 2020.
Katharine 8utler was a trustee and director of the Council of Milton Abbey khool knmited until S November 2018. Ms Builei
provided the Council of Milton Abtw School Lirnited with a103n of £ll￿.C￿ on 26 August 2015. Interest at the rate of 3.5%
per annum was pa￿ble on the loan. The loan was repayable on 26 Au8Urt 2020, but was repaid early on 25th February 2020.
During the yearthe trustees were reimbursed out of pocket expense5 of £1,45412019- £107).
In addition to this duringthe year ended 31 August 2020 the trustees donated £l.(MJ) to the school12019.. £201.
32