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2022-08-31-accounts

Registered Company number: 00779605 (England and Wales)

Registered Charity number: 306998

GOVERNORS’ REPORT, STRATEGIC REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE) FOR THE YEAR END 31 AUGUST 2022

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

LEGAL AND ADMINISTRATIVE INFORMATION

Full Court of Governors

R Adml J M L Kingwell CBE Mrs F Breeze Mr D J Daniels CBE Mrs E Fidock Dr P W E Hart Mrs S J Hookway Mr J Hookway (appointed April 2022) Mrs Tara de Line (appointed June 2022) Mr I S Mercer, CBE Mr J Watts

Clerk to the Full Court Mrs U Acuna
Senior Leadership
Head Mr D J Q Clark
Head of Prep School Mr C Austen-White
Bursar Mrs U Acuna
Charity Number 306998
Company Number 00779605
Registered Office & Principal Address Battle Abbey School
Battle
East Sussex
TN33 0AD
Auditors TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
United Kingdom
Bankers National Westminster Bank PLC
16 High Street
Battle
East Sussex
TN33 OAJ
Solicitors Gaby Hardwick Solicitors
2 Eversley Road
Bexhill on Sea
East Sussex
TN40 1EY

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

CONTENTS

Page Governors' Report (Incorporating Strategic Report) 1 Statement of Governors' Responsibilities 6 Report of the Independent Auditors 7 Consolidated Statement of Financial Activities 11 Consolidated Balance Sheet 12 School Balance Sheet 13 Consolidated Cash Flow Statement 14 Notes to the Financial Statements 15

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

FOR THE YEAR ENDED 31 AUGUST 2022

The Full Court of Governors present their report and financial statements for the year ended 31 August 2022, which comply with the Charity’s Memorandum and Articles of Association and with the Companies Act 2006 requirement for a Directors Report and Strategic Report.

The financial statements have been prepared in accordance with the Companies Act 2006, Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

STRUCTURE, GOVERNANCE AND MANAGEMENT

The School is a company limited by guarantee under the Companies Act 1948 (company number 00779605) and is governed by its Memorandum and Articles of Association. The Governors adopted a revised Memorandum and Articles of Association on 5 November 2010 to replace documents that were drawn up in 1963. The School is a registered charity (charity number 306998) and its objects are to operate Battle Abbey School as an educational Charity.

Details of the school’s solicitors, auditors, bankers, registered office and principal address can be found on the Legal and Administrative Information page.

The Full Court of Governors, who are also the directors for the purpose of company law, and who served during the year were:

Mrs F Breeze Mr D J Daniels Mrs J E Dunn (Chair) (resigned Apr 22) Mrs E Fidock Dr P W E Hart Mrs S J Hookway R Adml J M L Kingwell CBE Mr I S Mercer MR J Hookway (appt April 22) Mrs T de Linde (appt June 22)

Senior Staff and Key Management Personnel: Head Mr D J Q Clark, BA, M Phil Head of Preparatory School Mr C Austen-White, BA QTS Bursar Mrs U Acuna

None of the Full Court of Governors has any beneficial interest in the company. All of the Full Court of Governors are members of the company and guarantee to contribute an amount not exceeding £10 in the event of winding up.

Organisational Structure

One-third of members of the Full Court are required to retire as directors at the Annual General Meeting. The retiring members are those who have held office the longest since their last election or appointment and they shall be eligible for re-election.

The Charity has purchased and maintained throughout the year Directors and Officers liability insurance.

Overall responsibility for the Charity rests with the Full Court of Governors. The day-to-day running of the School is delegated to the Head and the Bursar. Their remuneration is set by the Full Court and includes reference to comparisons with other independent schools. The Full Court meet termly with the Head, Head of Preparatory School and Bursar in attendance. Other specialist sub committees of the Full Court, (e.g., Finance and General Purposes;

1

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

FOR THE YEAR ENDED 31 AUGUST 2022

Education Committee) also meet termly with the appropriate staff and report to the Full Court. The Remuneration Committee, established in 2021, recommends to the Finance Committee.

Recruitment, Induction and Training

Membership of the Full Court is by invitation, with new Governors selected in order to maintain a balance of skills on the Charity’s governing body.

New Governors receive relevant background material about the School and about the role of a charity trustee. All Governors are encouraged to visit the School to meet with staff and attend special events, to help gain an insight into the working of the School. Governors are encouraged to attend appropriate training courses and review relevant technical materials to ensure their understanding of their responsibilities.

Remuneration of Key Management Personnel

The remuneration of staff is set by the Full Court of Governors with the policy objective of providing appropriate incentives to encourage enhanced performance and of rewarding members of staff fairly and responsibly for their individual contributions to the success of the School.

The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons with other independent schools to ensure the School remains sensitive to the broader issues of pay and employment conditions elsewhere.

Principle Risks and Uncertainties

The Charity reviews its Risk Register regularly and takes appropriate action to minimise risk where possible. Where appropriate, specialist consultants are employed to ensure compliance with the latest legislation. Where appropriate, the Charity mitigates risk through insurance contracts.

Financial Risk Management

The Charity aims to minimise financial risk by seeking to maintain its income, through offering the consistent standard of care and education necessary to maintain or increase pupil numbers. The Charity is exposed to a variety of financial risks in carrying out its day-to-day operations. These include:

Strategic report

The description under the headings “Achievements and Performance” and “Financial review” meets the company law requirements for the Full Court of Governors to present a strategic report.

CHARITABLE OBJECTS AND ACTIVITIES

Objects and strategies for achieving objectives

Battle Abbey School’s size creates a caring and supportive family environment, in which a strong community of both pupils and staff focus on the importance, wellbeing, and potential of each individual child. Embracing continuous improvement, it provides high quality pastoral care and sensitive discipline, allowing excellent academic outcomes. Located in a unique historical setting, the School’s rich past and many of its traditions are based on Christian values but importantly, the School welcomes students from all faiths and none. The Governors regard the safeguarding of children as paramount in the school and work to ensure that this is reflected in all elements of school life. Specific aims are:

2

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

FOR THE YEAR ENDED 31 AUGUST 2022

ACHIEVEMENTS AND PERFORMANCE

A LEVELs 2022

Battle Abbey School A Level students celebrated a record year for results with over 75% achieving A-B in this year’s A Level assessment, with a further 54% of all grades at A and A. Almost a quarter (22%) of all grades are at A whilst 91% achieved A – C grades with an overall pass rate of 99%. Alongside our thriving EPQ and BTEC programme, the creative arts continue to be a school wide strength with Art, Theatre Studies and Textiles departments all seeing A – B across the board. Academic rigour can also be seen in our Latin results, with the entire cohort receiving an A grade whilst our Mathematics Department continues to be a fantastic strength for us with 100% of our Further Maths cohort achieving A – B. Several further departments saw 100% of their cohort achieve A* – C grades including History, Photography, Music, Chemistry and P.E.’

GCSEs 2022

At GCSE level we saw a very high pass rate with just under half our cohort achieving 7 – 9 grades across the board. Some 12% of all results were at the highest grade 9, which exceeds our pre-pandemic outcome. Latin once again saw A or A grades across the board. Our Sciences also did particularly well with some three quarters all grades in Biology, Chemistry and Physics at grade 7 – 9; the equivalent of an A or A. Mention should also go to our Maths, Spanish, Music and Textiles departments who once again all posted very strong results.

Public benefit

In planning the activities for the year, the Governors have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to guidance issued by the Charity Commission on public benefit.

The School has contributed to public benefit in a variety of ways including civic and community benefit, charitable support, education and youth activities and bursary support.

The Charity granted bursaries and scholarships to the value of £721,237 in the year under review (and £816,148 in 2020-21). This represented 8.25% of the gross fee income receivable (10.1% in 2020-21). The criteria for granting these awards included academic, sporting and musical excellence and parental financial hardship.

Discounts for 2021-22 totalled £311,739 (£375,458 in 2020-21), during this financial year discounts apply to members of staff, sibling discounts and to pupils with parents in the armed forces.

The Charity has combined with other charities to provide educational benefits to those unable to afford the fees.

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B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

FOR THE YEAR ENDED 31 AUGUST 2022

FINANCIAL REVIEW

General review

The principal income for the School is derived from the fees charged to parents. There is additional income from letting the School’s premises and facilities when not in use by the School and a separate non-charitable Trading Subsidiary (Battle Abbey School (Enterprises) Ltd) was established to manage wedding hires on 1 Sep 2017. The activities and trading performance of the subsidiary are detailed in note 15 and its results are consolidated in these financial statements.

One key project undertaken during the year was the conversion of lighting on all sites to LED to help the Charity use energy more sustainably.

Governors agreed that the fees for 2022-23 would be increased by 5% and that support staff would receive a general pay-rise of 3.5% with the core salary for teaching staff matching the maintained sector increases. The financial results for the year are shown in the statement of financial activities on page 11.

Performance is monitored against key performance indicators to provide evidence that the School is achieving the objectives set by Governors. These targets are aimed at ensuring the long-term viability of the Charity and are used to inform strategic planning and management. They are kept under constant review by the Finance and General Purposes Committee, having regard to national and local economic conditions. The key performance indicators cover a range of areas including salary costs as a percentage of net fee income, bursary support and cash reserves.

Reserves policy

Reserves of the Charity have been expended in recent years in carrying out maintenance and improvements to the School’s freehold properties and leasehold property and the servicing of mortgages. The Charity’s reserves (excluding restricted funds) as stated in the balance sheet are principally represented by fixed assets held for charitable use. One of the School’s strategic priorities is to create an uncommitted fund of about £2M by Aug 2023 and accounts on the year under review confirm this threshold to be met of August 2022. Governors will keep this figure under review along with other strategic priorities.

PLANS FOR THE FUTURE

Governors’ vision is that Battle Abbey School will remain one of the best small independent family schools in the country offering academic excellence together with exceptional pastoral care and personal development to its pupils. This will include the promotion of soft skills, the breadth of opportunities for students and by developing the best possible environment in which to prepare students for life beyond the Abbey.

The Governors gave direction that, having ensured financial security, the resulting strategic objectives are, in order of priority to maintain exceptional pastoral care where safeguarding is paramount; to achieve and maintain academic excellence and to provide suitable and appropriate teaching, pastoral and then sporting facilities for the school.

4

B A S (SCHOOL) LIMITED (LIMITED BY GUARA￿rE£l GOVERNORS. REPORT {INCORPORATING THE STRATEGIC REPORT} FOR THE YEAR ENDED 31 AUGusf 2022 DISCLOSURE OF INFORMATK>N TO AUDITORS Eath of the Governor5 ha5 confirmed there 15 no information ofwhirh they are aware that15 relevant to the audit, but of whlch the audltor Is unaware. They have further confirmed that they have taken approprlate steps to Identlfy anv such rel￿ant Infomiation and to estsbllsh that the audltor Is aware of such Infomiatlon. This report, indudingthestrategic Report, was approved bytheGOvern￿s, asthe Ditpctors of the charitablecompany. on 23, February 2023 and slgned on thelr behaw by.. MIJML ngwell CBE Date:............ ...... 2023

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE) STATEMENT OF GOVERNORS’ RESPONSIBILITIES

The Governors, who are also the directors for the purposes of company law, are responsible for preparing the Governors' Report (including the Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard in the UK and the Republic of Ireland'.

Company law requires the governors to prepare financial statements for each financial year which give a true and fair view of the affairs of the charitable company and group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company and group for that year.

In preparing these financial statements the governors are required to:

The Governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and group and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

6

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

Opinion

We have audited the financial statements of B A S (School) Limited (‘the charitable company’) and its subsidiary (‘the group’) for the year ended 31 August 2022 which comprise the Consolidated Statement of Financial Activities, the Group Balance Sheet, the School Balance Sheet, the Cashflow Statement 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:

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 governor's 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 or the parent charitable company'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 other information comprises the governors’ report, which includes the directors’ report (and the strategic report), other than the financial statements and our auditor’s report thereon. The governors are responsible for the other information. 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.

7

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS (CONTINUED)

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and the parent charitable company and its environment obtained during the audit, we have not identified material misstatements in the directors’ report (or the strategic report) included within the governors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require(s) us to report to you if, in our opinion:

Responsibilities of the governors

As explained more fully in the governors’ responsibilities statement, 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 trustees 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 trustees 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 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.

8

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS (CONTINUED)

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 based on these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

In preparing the financial statements, the trustees 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 trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

9

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS (CONTINUED)

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.

Use of our report

This report is made solely to the group’s and the 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 group’s and to the 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 group and the group's members as a body, for our audit work, for this report, or for the opinions we have formed .

Mark Cummins FCCA (Senior Statutory Auditor) for and on behalf of TC Group Statutory Auditor Office: Steyning, West Sussex

Dated: 20 March 2023

10

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2022

Notes Unrestricted
Funds
£
INCOME FROM:
Donations and grants
6
-
Other trading activities
7
265,851
Investments
8
5,678
Charitable activities
9
7,954,342
Total Income
8,225,871
EXPENDITURE ON:
10
Raising funds
184,956
Charitable activities
6,922,894
Total expenditure
7,107,850
Net income/(expenditure)
1,118,021
Transfers between funds
24
-
Net movement in funds
1,118,021
Funds balances brought forward
7,805,439
Fund balances carried forward
24/25
8,923,460		 Restricted
Funds
£
12,297
-
-
-
12,297
-
10,502
10,502
1,795
-
1,795
97,495
99,290		 Total
2022
£
12,297
265,851
5,678
7,954,324
8,238,168
184,956
6,933,396
7,118,352
1,119,816
-
1,119,816
7,902,934
9,022,750		 Total
2021
£
91,324
85,730
13,121
7,250,348
7,440,523
89,554
6,345,899
6,435,453
1,005,070
-
1,005,070
6,897,864
7,902,934

All income and gains for the year are recognised above. All of the school's activities are classed as continuing.

The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

11

B A S (SCHOOL) LIMITED (LIMITED BYGUARAMfEE} CONSOLIDATED BALANCE SHEET FOR THE YEAR EAIDED31 AUGUST2022 2022 2021 Notss FIXED ASSErs Tan8lble assets 7W37,738 7.951,392 CURRENT ASSET5 Stocks Debtors Cash at bank and In hand 3,007 1,897 263,275 3,243.568 3,508,740 3,881,199 4.287,254 CURRENT LIABI￿lEs Credltors due within one year 17 (1259.2421 12.350,0371 NEf CURRENT ASSEfsiiLIABIUYJES) 2,Q28.012 1,158,703 TOTAL ASSEfs LESS CURRENT UA8ILITIES 9.925,750 9.110.095 LONG TERM LIABILITIES Credriors due after one year 1905,000) 11,207,161) NEfASSErs 9,022,750 7,902,934 REPRESEvifED BY: RESTRicfED FUNDS 24125 99,19LI 97.495 UNREsfRICTED FUNDS 24125 8.923A60 7,805,439 9,021750 7,902,934 The attounts were approved by the Full Court of Govemor5 and slgned on their behalf by: adml J Kin (Chairl Date: 12

B A S (SCHOOL) LIMITED {LIMITED BY GUARANTEE) COMPANY BALANCE SHEET FOR THE YEAR ENDED 31 AUGUST2022 2022 2021 Notes HXED ASSETS Tangible assets Investments 7.985.983 7,948,686 15 7,895,984 7,948,687 CURRENT ASSErs Debtors Cash at bank and In han 16 464A12 3fi30.154 4Jb94,566 267,695 3.143,152 3.410,847 CVRREKf LIABIL￿lEs editors due withln one year 17 12,149A371 12,262.9551 NEf CURREKr ASSETS/IUA8ILITIES) 1,945,130 1,147,893 TOTALASSEfs LESS CURRENT LIABIUTIES 9WI,113 9,096,580 L014G TERM LIABILITIES Credltors due after one year 1903,000) 11,207,161) NEfASSErs 8,938,113 7.889,419 REPRESENTED BY: RESTrICTED FUNDS 24125 99,290 97,495 uNREsTRI￿ED FUNDS 24125 8,838823 7,791,924 8,938,113 7,889,419 The accounts were approved by the Full Court of Governors and signed on their behalf by: Radml J Kin Ichairl Date.. 13

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 AUGUST 2022

Notes
Cash flows from operating activities:
Net income/expenditure for the year
Adjustments for:
Depreciation charges
14
Dividends, interest and rents from
investments
8
Financing costs
(Increase)/decrease in stock
(Increase)/decrease in debtors
17
Increase/(decrease) in creditors
18,19
Net cash provided by/(used in) operating
activities
Cash flows from investing activities:
Dividends, interest and rents from
investments
8
Financing costs
Purchase of tangible fixed assets
14
Net cash used in investing activities
Cash flows from financing activities:
Repayment of bank loans
17/18
Repayment of other loans
17/18
Net cash provided/(used in) financing
activities
Change in cash and cash equivalents in the
year
Cash and cash equivalents at the beginning
of the year
Cash and cash equivalents at the end of the
year
Analysis of cash and cash equivalents
Cash in hand
Cash at bank
Total cash and cash equivalents		 2022
£
£
1,119,816
305,531
(5,678)
27,230
(1,110)
(139,777)
(223,823)
1,082,189
5,678
(27,230)
(251,877)
(273,429)
(131,137)
(39,992)
(171,129)
637,631
3,243,568
3,881,199
1,086
3,880,113
3,881,199
3,881,199		 2021
£
£
1,005,070
293,625
(13,121)
36,717
(861)
(14,754)
(21,025)
1,285,651
13,121
(36,717)
(561,634)
(585,230)
(361,285)
(39,996)
(401,281)
299,140
2,944,428
3,243,568
5,118
3,238,450
3,243,568
3,243,568		 2021
£
£
1,005,070
293,625
(13,121)
36,717
(861)
(14,754)
(21,025)
1,285,651
13,121
(36,717)
(561,634)
(585,230)
(361,285)
(39,996)
(401,281)
299,140
2,944,428
3,243,568
5,118
3,238,450
3,243,568
3,243,568
5,678
(27,230)
(251,877)		 13,121
(36,717)
(561,634)
(131,137)
(39,992)		 (361,285)
(39,996)
1,086
3,880,113		 5,118
3,238,450
299,140
2,944,428
3,243,568
3,243,568
3,243,568

14

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

1 STATUTORY INFORMATION

B A S (School) Limited is a charitable company, limited by guarantee, registered in England and Wales. The registered office, company number and charity number are detailed in the Legal and Administrative Information.

2 ACCOUNTING POLICIES

2.1 Basis of accounting

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), "Accounting and Reporting by Charities" the Statement of Recommended Practice for charities applying FRS 102 and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the group. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

The charitable company meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy.

At the time of approving the financial statements, the Full Court of Governors have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Governors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.2 Group financial statements

The financial statements consolidate the results of the charity and its wholly owned subsidiary on a line by line basis. A separate Statement of Financial Activities (including income and expenditure account) for the charity has not been presented as the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

2.3 Income

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Income is recognised net of VAT, where applicable.

Investment income and rental income is accounted for on an accruals basis.

Income from donations, legacies and grants is recognised when the charitable company is legally entitled to it, it is probable that the income will be received and the amount can be measured reliably. Where a donor or an appeal has imposed restrictions the income is credited to a restricted fund.

School fees receivable, lettings and extra charges are accounted for in the period in which the service is provided. Where fees are received for a future service period they are included in deferred income.

2.4 Expenditure

Expenditure is included in the accounts on an accruals basis, as soon as a liability is considered probable. Irrecoverable VAT is included with the item of expenditure to which it relates

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

15

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

2 ACCOUNTING POLICIES (continued)

All costs are allocated between expenditure categories and departments on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Freehold land - not depreciated
Freehold buildings - 50 years straight line
Leasehold property - 50 years straight line
Long-life fixtures, fittings & equipment - 15 years straight line
Astroturf - 10 years straight line
Fixtures, fittings & equipment - 5 years straight line
Motor vehicles - 4 years straight line
Computer equipment - 3 years straight line

At each reporting end date, the Charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such impairment exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Fixed assets below the value of £500 are not capitalised.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

2.6 Investments

Investments in subsidiaries are measured at cost and reviewed annually for impairment.

2.7 Stock

Stock is stated at the lower of cost and net realisable value.

2.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Basic financial instruments are recognised at amortised cost.

2.9 Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

2.10 Cash at bank and in hand

Cash at bank and in hand includes cash in hand and deposits held at call with banks.

16

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

2 ACCOUNTING POLICIES (continued)

2.11 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably

2.12 Fund accounting

Unrestricted funds are available for use at the discretion of the Full Court of Governors in furtherance of the charitable objectives unless the funds have been designated for other purposes.

Designated funds comprise funds which have been set aside at the discretion of the Full Court of Governors for specific purposes.

Restricted funds are those funds that can only be used for particular restricted purposes in accordance with the wishes of the donor or when funds are raised for particular restricted purposes.

2.13 Leasing and hire purchase commitments

Rentals payable under operating leases, including any lease incentives received, are charged to the Statement of Financial Activities on a straight line basis over the term of the relevant lease.

2.14 Employee benefits and termination benefits

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Teaching staff are members of the Teachers' Pension Scheme (TPS), a defined benefit scheme administered by the Teachers' Pension Agency. Contributions to the scheme are charged to the Statement of Financial Activities as they fall due. The TPS is an unfunded scheme. Contributions on a 'pay as you go' basis are credited to the exchequer under arrangements governed by the Superannuation Act 1972. Actuarial valuations are carried out on a notional set of investments. Under the definitions set out in FRS 102 the TPS is a multi-employer pension scheme. The charity is unable to identify its share of the underlying (notional) assets and liabilities of the scheme. Accordingly, under FRS 102 the scheme is accounted for as if it were a defined contribution scheme.

The Charity also makes defined contribution payments to a stakeholder pension scheme for non-teaching staff. Employer pension contributions are charged in the period in which they fall due.

2.15 Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the Governors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

17

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

Judgements and key sources of estimation uncertainty (continued)

(i) Multi-employer defined benefit pension scheme

Certain employees participate in a multi-employer defined benefit pension scheme with other entities. In the judgment of the governors, the charity does not have sufficient information on the plan assets and liabilities to be able to reliably account for its share of the defined benefit obligation and plan assets. Therefore the scheme is accounted for as a defined contribution scheme, see note 22 for further details.

b. Critical accounting estimates and assumptions

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 14 for the carrying amount of tangible assets, and note 2.5 for the useful economic lives for each class of assets.

(iii) Impairment of debtors

The charity makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

3 TURNOVER

The turnover of the charity is wholly attributable to the objects of the charity as stated in the Governors' Report and is earned entirely within the UK.

4 NET INCOME/(EXPENDITURE)

This is stated after charging:

2022 2021
£ £
Operating lease payments 138,615 153,585
Stocks recognised as an expense 14,381 5,486
Loan interest payable 27,230 36,717
Depreciation 305,531 293,625
Auditors’ remuneration – audit services 19,390 14,350
Auditors’ remuneration – non-audit services 3,350 567

5 TAXATION

The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010

18

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

6 INCOME FROM DONATIONS AND GRANTS

Unrestricted
£
Donations
-
Coronavirus Job Retention Scheme
grants
-
-
7
INCOME FROM OTHER TRADING ACTIVITIES
Unrestricted
£
Lettings and rental income
15,371
Subsidiary trading income
250,480
265,851
8
INCOME FROM INVESTMENTS
Unrestricted
£
Interest receivable
5,678
9
INCOME FROM CHARITABLE ACTIVITIES
Gross school fees
Less:
bursaries, scholarships and allowances
Covid-19 discounts
Net school fees
Add:
Scholarships, bursaries and awards from restricted funds
Registration fees
Extras income
School bus/transport income
Swimming pool hire		 Restricted
£
12,297
-
12,297
Restricted
£
-
-
-
Restricted
£
-		 Restricted
£
12,297
-
12,297
Restricted
£
-
-
-
Restricted
£
-
Total
2022

£

12,297
-
12,297

Total
2022

£

15,371

250,480
265,851

Total
2022

£

5,678
Total
2022
£
8,695,572
(1,200,753)
-
7,494,819
10,502
19,656
192,732
140,203
96,430
7,954,342
Total
2022

£

12,297
-
12,297

Total
2022

£

15,371

250,480
265,851

Total
2022

£

5,678
Total
2022
£
8,695,572
(1,200,753)
-
7,494,819
10,502
19,656
192,732
140,203
96,430
7,954,342
Total

2021

£

41,842
49,482
91,324

Total

2021

£

22,811
62,919
85,730

Total

2021

£

13,121
Total
2022
£
8,695,572
(1,200,753)
-
7,494,819
10,502
19,656
192,732
140,203
96,430
7,954,342		 Total
2021
£
8,068,481
(1,147,192)
(44,441)
6,876,848
15,151
18,233
160,770
128,421
50,925
7,250,348





19

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

10 ANALYSIS OF EXPENDITURE

Staff

Costs
£
Cost of raising funds:
Other trading activities
298
Financing costs
-
Total cost of raising funds
298
Charitable expenditure
Education
Teaching
3,658,436
Welfare
232,940
Premises
167,676
Support and governance
619,207
Bursaries from restricted
funds
-
Total charitable
expenditure
4,678,259
Total expenditure
4,678,557
Analysis of support and governance costs:
Governance costs:
Auditors remuneration for
audit services

Support costs:
Auditors’ remuneration for
non-audit services

Legal and professional fees
relating to support

Support staff wages,
national insurance and
pension
Advertising and promotion
Commission to agencies
Subscriptions and licences
Telephone
Other support costs		 Depreciation
£

951

-

951

117,773

-

186,808

-
-
304,581

305,532
Other
Costs
£

156,477

27,230

183,707

392,206

254,379

769,131

524,338
10,502
1,950,556

2,134,263


 Total
2022
£

157,726

27,230

184,956

4,168,415

487,319

1,123,615

1,143,545
10,502
6,933,396


7,118,352


2022
£

19,390


3,350
64,067
619,207
80,546
99,058
65,280
41,142
151,505
1,143,545		 Total
2021
£
52,837

36,717

89,554

3,847,278

524,911

1,077,199

881,360
15,151
6,345,899
6,435,453
2021
£
14,350
567
16,109
497,227
48,251
57,418
56,474
56,252
134,712
881,360

20

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

11 PROFIT AND LOSS ON SPECIFIC ACTIVITIES

Swimming pool
Wedding lettings (subsidiary trading results)
School bus		 Income
£
96,430
256,497
140,203
493,130
Costs
£

(126,282)

(172,025)

(157,262)
(455,569)		 Profit/(Loss)
2022
£
(29,852)
84,472
(17,059)
37,561		 Profit/(Loss)
2021
£

(65,680)

13,516
(81,730)
(133,894)

12 STAFF COSTS

The average monthly number of employees during the year split between relevant departments was:

Teaching
Welfare
Domestic
Administration		 2022
Number
58
39
34
15
146		 2021
Number
55
38
33
15
141

The aggregate payroll costs for the year were as follows:

Wages and salaries
Social security costs
Other pension costs		 2022
£
3,822,178
338,215
518,164
4,678,557		 2021
£
3,589,741
304,825
496,958
4,391,524

None of the governors received any remuneration or other benefits from the school or any connected body during the year and no governors were reimbursed any expenses during the year or prior year.

Staff earning in excess of £60,000 per annum in the following bands are:

2022 2021
Number Number
£60,000 - £69,999 2 1
£70,000 - £79,999 1 1
£90,000 - £99,999 1 0

21

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

STAFF COSTS (continued)

Of the employees whose emoluments exceed £60,000, 4 (2021: 1) has retirement benefits accruing under defined benefit schemes and nil (2021: 1) has retirement benefits accruing under defined contribution schemes. Contributions payable by the school to those schemes for higher paid employees were:

2022 2021
£ £
Defined benefits schemes 34,475 20,838
Defined contribution schemes - 5,200

The key management personnel of the school are detailed in the Governors' Report and Legal and Administrative Information.

2022 2021
£ £
Aggregate employee benefits of key management personnel (including
employer pension contributions)		 515,677 488,059

Ex gratia payments of £51,350 (2021: £5,000) were paid during the year. The ex gratia payments were in relation to employment severance.

13 COMPARATIVE CONSOLIDITATED STATEMENT OF FINANCIAL ACTIVITIES – 31 AUGUST 2021

INCOME FROM:
Notes
Donations and grants
6
Other trading activities
7
Investments
8
Charitable activities
9
Total income
EXPENDITURE ON:
10
Raising funds
Charitable activities
Total expenditure
Net income/(expenditure)
Transfers between funds
24
Net movement in funds
Fund balances brought forward
Fund balances at carried forward
24/25		 Unrestricted
funds
£
49,482
85,730
13,121
7,250,348
7,398,681
89,554
6,330,748
6,420,302
978,379
-
978,379
6,827,060
7,805,439		 Restricted
funds
£
41,842
-
-
-
41,842
-
15,151
15,151
26,691
-
26,691
70,804
97,495		 Total
funds
£
91,324
85,730
13,131
7,250,348
7,440,523
89,554
6,345,899
6,435,453
1,005,070
-
1,005,070
6,897,864
7,902,934

22

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

14 TANGIBLE FIXED ASSETS – CONSOLIDATED GROUP AND SCHOOL

Cost/Revaluation
At 1 September 2021
Additions
At 31 August 2022
Depreciation
At 1 September 2021
Charge for year
At 31 August 2022
Net Book Value
At 31 August 2022
31 August 2021		 Freehold
Land and
Buildings

£
7,032,800
22,553
7,055,353
702,058
132,623
834,681
6,220,672
6,330,742		 Leasehold
Property
Short Lease
£

2,162,444

134,082

2,296,526

847,216

58,736

905,952

1,390,574

1,315,228		 Fixtures,
Fittings &

Equipment
£

1,349,342

95,242

1,444,584

1,050,111

107,981

1,158,092

286,492

299,231		 Motor
Vehicles
£

58,723

-

58,723

52,532

6,191

58,723

-

6,191		 Total
£

10,603,309

251,877

10,855,186

2,651,917

305,531

2,957,448
7,897,738

7,951,392

The leasehold property book value represents the cost, less depreciation, of improvements to the land and buildings leased from English Heritage.

Included in the above is £1,756 (2021: £2,706) net book value of fixtures, fittings and equipment which relate to the subsidiary company.

The cost of freehold property includes £1,915,000 for land and buildings revalued to fair value on 1 September 2014, valued by Harold Stiles Williams, an independent valuer. The Governors took advantage of the transitional arrangements available to treat as deemed cost the fair value as at 1 September 2014 of some freehold land and buildings, and to continue to depreciate them over their remaining estimated useful lives.

If the land and buildings had not been revalued they would be included at the following historical cost:

Cost
Aggregate depreciation
Net book value
Value of land and buildings		 2022
£
1,474,652
(516,273)
958,379
1,065,000
2021

£

1,474,652
(471,984)

1,002,668

1,065,000

23

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

15 INVESTMENTS

Investments in subsidiaries

The school held investments in the following companies during the year:

Battle Abbey School Enterprises Limited Registered in England and Wales Company number 10892751 % of share capital owned 100%

The wholly-owned trading subsidiary was incorporated in England and Wales on 1 August 2017 with the purpose of taking over the wedding and lettings activities of the school. The registered office address is Battle Abbey School, High Street, Battle, East Sussex, United Kingdom, TN33 0AD.

Summary of trading results
Turnover
Administrative expenses
Donation to parent entity
Net profit/(loss)
Summary balance sheet
Fixed assets
Current assets
Creditors falling due within one year
Net assets
Aggregate share capital and reserves
Contribution by parent company
The parent charity contributions to the results for the year is as follows:
Income
Expenditure
Net income/(expenditure) for the year		 Battle Abbey School
Enterprises Limited
2022
2021
£
£
256,497
64,458
(172,025)
(50,942)
-
-
84,472
13,516
1,755
2,706
255,175
106,765
(172,457)
(95,954)
84,473
13,517
84,473
13,517
7,981,671
7,376,065
(6,946,327)
(6,384,511)
1,035,344
991,554		 Battle Abbey School
Enterprises Limited
2022
2021
£
£
256,497
64,458
(172,025)
(50,942)
-
-
84,472
13,516
1,755
2,706
255,175
106,765
(172,457)
(95,954)
84,473
13,517
84,473
13,517
7,981,671
7,376,065
(6,946,327)
(6,384,511)
1,035,344
991,554

13,516

2,706

106,765

(95,954)

13,517

13,517

7,376,065

(6,384,511)

991,554

16 DEBTORS

Fee debtors
Amounts due from subsidiaries
Prepayments and accrued income
Other debtors		 Group
2022
2021
£
£
226,253
111,894
-
-
101,573
149.881
75,222
1,500
403,048
263,275		 School
2022
2021
£
£
226,253
111,894
62,487
8,872
100,450
146,929
75,222
-
464,412
267,695

24

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

17 CREDITORS: due within one year

Bank loans (note 19)
Other loans
Trade creditors
Accruals and other creditors
Fees in advance
Advance fees payment scheme (note 20)
Deposits
Other taxes and social security		 Group
2022
2021
£
£
132,650
130,158
40,000
40,000
36,960
140,789
247,112
274,072
1,050,618
930,743
216,113
352,040
409,156
391,894
126,633
90,341
2,259,242
2,350,037		 School
2022
2021
£
£
132,650
130,158
40,000
40,000
17,166
130,953
203,494
208,413
1,050,618
930,743
216,113
352,040
409,156
391,894
80,240
78,754
2,149,437
2,262,955

Fees in advance represent amounts due for Winter term 2022.

Amounts included as Advance Fees Payment Scheme are those received under an agreement for future year's fees. The money may be returned subject to specific conditions upon the receipt of one term's notice.

18 CREDITORS: due after one year

Bank loans (note 19)
Advance Fees Payment Scheme (note 20)
Other loans		 Group
2022
2021
£
£
503,455
637,084
159,453
289,989
240,092
280,088
903,000
1,207,161		 School
2022
2021
£
£
503,455
637,084
159,453
289,989
240,092
280,088
903,000
1,207,161

Other loans of £280,092 (2021: £320,088) consist of a concessionary loan which is repayable over 8 years in instalments and is interest free. This loan is secured against freehold property at 22 Upper Lake, Westnedge House, Battle TN33 0AN.

19 BANK LOANS – SCHOOL

Bank loans are wholly repayable in instalments as follows:
Less than one year
In more than one year but less than two years
In more than two years but less than five years
In more than five years		 2022
£

132,650
136,242
367,213
-
636,105		 2021
£
130,158
132,651
391,345
113,088
767,242

The Charity has 2 bank loans, 1 of which are repayable by way of monthly instalments over 4 years and 1 over 6 years. Interest is charged at 2.42% and 2.54% respectively. All loans are secured against freehold properties.

25

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

20 ADVANCE FEES PAYMENT SCHEME - SCHOOL

Parents may enter into an agreement to pay to the school tuition fees in advance. The money may be returned subject to specific conditions upon the receipt of one term's notice. Assuming pupils will remain in the school, advance fees will be applied as below:

Amounts due within one year
Amounts due after more than one year but less than two years
Amounts due after more than two years but less than five years		 2022
£
216,113
159,453
-
375,566		 2021
£
352,040
189,338
100,651
642,029

The balance represents the accrued liability under the agreements. The movements during the year were as follows:

Balance as at 1 September 2021
Amounts received in year
Amounted credited to pupil accounts for fees
Balance as at 31 August 2022		 2022
£
642,029
111,410
(377,873)
375,566		 2021
£
612,884
117,852
(88,707)
642,029

21 OPERATING LEAVE AND CAPITAL COMMITTMENTS

At 31 August 2022 the school had total commitments under non-cancellable operating leases payable as follows:

Within one year
Between one year and five years		 Land & Buildings
2022
2021
£
£
118,105
118,105
111,105
222,210
229,210
340,315		 Other
2022
2021
£
£
13,407
20,510
1,921
15,327
15,328
35,837

At 31 August 2022 the school had total other commitments as follows:

2022 2021
£ £
Authorised and contracted for - -

26

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

22 PENSION COMMITTEMENTS

The School participates in the Teachers' Pension Scheme ("the TPS") for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £468,154 (2021: £437,059) and at the year-end £51,884 (2021: £50,992) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%.

The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However, the assumptions were considered and set by the Department for Education prior to the ruling in the ‘McCloud/Sargeant case’. This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions including the Teachers’ Pensions.

On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appeal’s judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Court’s decision and has said it will engage fully with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remedied. The government announced on 4 February 2021 that it intends to proceed with a deferred choice underpin under which members will be able to choose either legacy or reformed scheme benefits in respect of their service during the period between 1 April 2015 and 31 March 2022 at the point they become payable.

The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal’s ruling in the McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020, and a consultation was launched on 24 June on proposed changes to the cost control mechanism following a review by the Government Actuary. Following a public consultation, the Government have accepted three key proposals recommended by the Government Actuary, and are aiming to implement these changes in time for the 2020 valuations.

The 2016 cost control valuations have since been completed in January 2022, and the results indicated that there would be no changes to benefits or member contributions required. The results of the costs cap valuation are not used to set the employer contribution rate, and HM Treasury has confirmed that any changes to the employer contribution rate resulting from the 2020 valuations will take place in April 2024.

Until the 2020 valuation is completed it is not possible to conclude on any financial impact or future changes to the contribution rates of the TPS. Accordingly, no provision for any additional past benefit pension costs is included in these financial statements.

27

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

PENSION COMMITTEMENTS (Continued)

The school also contributes to defined contribution schemes on behalf of its other staff. Employer contributions payable to these schemes were £50,000 (2021: £59,899) and at the year end £9,896 (2021: £9,303) was accrued in respect of contributions due to these schemes.

23 SHARE CAPITAL AND CONTROL

The charity is limited by guarantee and does not have a share capital. In the event of a winding up each member guarantees to contribute an amount of no more than £10.

24 SUMMARY OF FUND MOVEMENTS

Unrestricted funds
General reserves
Restricted funds
Bursary and Appeal
Fund
Nursery School Fund
Total funds		 Balance at 1
September
2021
Income
Expenditure
Transfer
Gains/
(losses)
Balance at
31 August
2022
£
£
£
£
£
£
7,805,439
8,225,871
(7,107,850)
-
-
8,923,460
94,109
12,297
(10,502)
-
-
95,904
3,386
-
-
-
-
3,386
97,495
12,297
(10,502)
-
-
99,290
7,902,934
8,238,168
(7,118,352)
-
-
9,022,750

Restricted funds:

Bursary and Appeal Fund - Provides funds to go towards bursaries for pupils and also for specific projects. Unrestricted income has been transferred to this restricted fund in the current year as agreed by the Governors.

Nursery School Fund - Funds are allocated by East Sussex County Council to enable eligible nurseries to enhance their approaches towards and provision of healthy eating and physical activity based on needs identified through completion of a baseline healthy eating / physical activity audit.

25 ANALYSIS OF NET ASSETS BETWEEN FUNDS


Fund balances at 31 August 2022 are represented by
Fixed assets
Current assets
Creditors: less than one year
Creditors: more than one year		 Unrestricted
Funds
£
7,897,738
4,187,964
(2,259,242)
(903,000)
8,923,460
Restricted
Funds
£

-

99,290

-
-

99,290		 Total
2022
£

7,897,738

4,287,254

(2,259,242)

(903,000)

9,022,750

28

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)


Fund balances at 31 August 2021 are represented by
Fixed assets
Current assets
Creditors: less than one year
Creditors: more than one year		 Unrestricted
Funds
£
7,951,392
3,411,245
(2,350,037)
(1,207,161)
7,805,439
Restricted
Funds
£
-
97,495
-
-

97,495		 Total
2021
£
7,951,392
3,508,740
(2,350,037)

(1,207,161)

7,902,934

26 RELATED PARTIES

The school has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. The school has also taken advantage of the exemptions under the Charities' Statement of Recommended Practice (SORP (FRS 102)) not to disclose services provided on a voluntary basis by governors, contracts of employment between the school and its employees, and the repayment of out-of-pocket expenses where the governors have acted as agent for the school.

There were no other related party transactions in either 2022 or 2021. Details of key management personnel compensation can be found in note 12 to these financial statements.

29

Registered Company number: 00779605 (England and Wales)

Registered Charity number: 306998

GOVERNORS’ REPORT, STRATEGIC REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE) FOR THE YEAR END 31 AUGUST 2022

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

LEGAL AND ADMINISTRATIVE INFORMATION

Full Court of Governors

R Adml J M L Kingwell CBE Mrs F Breeze Mr D J Daniels CBE Mrs E Fidock Dr P W E Hart Mrs S J Hookway Mr J Hookway (appointed April 2022) Mrs Tara de Line (appointed June 2022) Mr I S Mercer, CBE Mr J Watts

Clerk to the Full Court Mrs U Acuna
Senior Leadership
Head Mr D J Q Clark
Head of Prep School Mr C Austen-White
Bursar Mrs U Acuna
Charity Number 306998
Company Number 00779605
Registered Office & Principal Address Battle Abbey School
Battle
East Sussex
TN33 0AD
Auditors TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
United Kingdom
Bankers National Westminster Bank PLC
16 High Street
Battle
East Sussex
TN33 OAJ
Solicitors Gaby Hardwick Solicitors
2 Eversley Road
Bexhill on Sea
East Sussex
TN40 1EY

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

CONTENTS

Page Governors' Report (Incorporating Strategic Report) 1 Statement of Governors' Responsibilities 6 Report of the Independent Auditors 7 Consolidated Statement of Financial Activities 11 Consolidated Balance Sheet 12 School Balance Sheet 13 Consolidated Cash Flow Statement 14 Notes to the Financial Statements 15

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

FOR THE YEAR ENDED 31 AUGUST 2022

The Full Court of Governors present their report and financial statements for the year ended 31 August 2022, which comply with the Charity’s Memorandum and Articles of Association and with the Companies Act 2006 requirement for a Directors Report and Strategic Report.

The financial statements have been prepared in accordance with the Companies Act 2006, Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

STRUCTURE, GOVERNANCE AND MANAGEMENT

The School is a company limited by guarantee under the Companies Act 1948 (company number 00779605) and is governed by its Memorandum and Articles of Association. The Governors adopted a revised Memorandum and Articles of Association on 5 November 2010 to replace documents that were drawn up in 1963. The School is a registered charity (charity number 306998) and its objects are to operate Battle Abbey School as an educational Charity.

Details of the school’s solicitors, auditors, bankers, registered office and principal address can be found on the Legal and Administrative Information page.

The Full Court of Governors, who are also the directors for the purpose of company law, and who served during the year were:

Mrs F Breeze Mr D J Daniels Mrs J E Dunn (Chair) (resigned Apr 22) Mrs E Fidock Dr P W E Hart Mrs S J Hookway R Adml J M L Kingwell CBE Mr I S Mercer MR J Hookway (appt April 22) Mrs T de Linde (appt June 22)

Senior Staff and Key Management Personnel: Head Mr D J Q Clark, BA, M Phil Head of Preparatory School Mr C Austen-White, BA QTS Bursar Mrs U Acuna

None of the Full Court of Governors has any beneficial interest in the company. All of the Full Court of Governors are members of the company and guarantee to contribute an amount not exceeding £10 in the event of winding up.

Organisational Structure

One-third of members of the Full Court are required to retire as directors at the Annual General Meeting. The retiring members are those who have held office the longest since their last election or appointment and they shall be eligible for re-election.

The Charity has purchased and maintained throughout the year Directors and Officers liability insurance.

Overall responsibility for the Charity rests with the Full Court of Governors. The day-to-day running of the School is delegated to the Head and the Bursar. Their remuneration is set by the Full Court and includes reference to comparisons with other independent schools. The Full Court meet termly with the Head, Head of Preparatory School and Bursar in attendance. Other specialist sub committees of the Full Court, (e.g., Finance and General Purposes;

1

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

FOR THE YEAR ENDED 31 AUGUST 2022

Education Committee) also meet termly with the appropriate staff and report to the Full Court. The Remuneration Committee, established in 2021, recommends to the Finance Committee.

Recruitment, Induction and Training

Membership of the Full Court is by invitation, with new Governors selected in order to maintain a balance of skills on the Charity’s governing body.

New Governors receive relevant background material about the School and about the role of a charity trustee. All Governors are encouraged to visit the School to meet with staff and attend special events, to help gain an insight into the working of the School. Governors are encouraged to attend appropriate training courses and review relevant technical materials to ensure their understanding of their responsibilities.

Remuneration of Key Management Personnel

The remuneration of staff is set by the Full Court of Governors with the policy objective of providing appropriate incentives to encourage enhanced performance and of rewarding members of staff fairly and responsibly for their individual contributions to the success of the School.

The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons with other independent schools to ensure the School remains sensitive to the broader issues of pay and employment conditions elsewhere.

Principle Risks and Uncertainties

The Charity reviews its Risk Register regularly and takes appropriate action to minimise risk where possible. Where appropriate, specialist consultants are employed to ensure compliance with the latest legislation. Where appropriate, the Charity mitigates risk through insurance contracts.

Financial Risk Management

The Charity aims to minimise financial risk by seeking to maintain its income, through offering the consistent standard of care and education necessary to maintain or increase pupil numbers. The Charity is exposed to a variety of financial risks in carrying out its day-to-day operations. These include:

Strategic report

The description under the headings “Achievements and Performance” and “Financial review” meets the company law requirements for the Full Court of Governors to present a strategic report.

CHARITABLE OBJECTS AND ACTIVITIES

Objects and strategies for achieving objectives

Battle Abbey School’s size creates a caring and supportive family environment, in which a strong community of both pupils and staff focus on the importance, wellbeing, and potential of each individual child. Embracing continuous improvement, it provides high quality pastoral care and sensitive discipline, allowing excellent academic outcomes. Located in a unique historical setting, the School’s rich past and many of its traditions are based on Christian values but importantly, the School welcomes students from all faiths and none. The Governors regard the safeguarding of children as paramount in the school and work to ensure that this is reflected in all elements of school life. Specific aims are:

2

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

FOR THE YEAR ENDED 31 AUGUST 2022

ACHIEVEMENTS AND PERFORMANCE

A LEVELs 2022

Battle Abbey School A Level students celebrated a record year for results with over 75% achieving A-B in this year’s A Level assessment, with a further 54% of all grades at A and A. Almost a quarter (22%) of all grades are at A whilst 91% achieved A – C grades with an overall pass rate of 99%. Alongside our thriving EPQ and BTEC programme, the creative arts continue to be a school wide strength with Art, Theatre Studies and Textiles departments all seeing A – B across the board. Academic rigour can also be seen in our Latin results, with the entire cohort receiving an A grade whilst our Mathematics Department continues to be a fantastic strength for us with 100% of our Further Maths cohort achieving A – B. Several further departments saw 100% of their cohort achieve A* – C grades including History, Photography, Music, Chemistry and P.E.’

GCSEs 2022

At GCSE level we saw a very high pass rate with just under half our cohort achieving 7 – 9 grades across the board. Some 12% of all results were at the highest grade 9, which exceeds our pre-pandemic outcome. Latin once again saw A or A grades across the board. Our Sciences also did particularly well with some three quarters all grades in Biology, Chemistry and Physics at grade 7 – 9; the equivalent of an A or A. Mention should also go to our Maths, Spanish, Music and Textiles departments who once again all posted very strong results.

Public benefit

In planning the activities for the year, the Governors have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to guidance issued by the Charity Commission on public benefit.

The School has contributed to public benefit in a variety of ways including civic and community benefit, charitable support, education and youth activities and bursary support.

The Charity granted bursaries and scholarships to the value of £721,237 in the year under review (and £816,148 in 2020-21). This represented 8.25% of the gross fee income receivable (10.1% in 2020-21). The criteria for granting these awards included academic, sporting and musical excellence and parental financial hardship.

Discounts for 2021-22 totalled £311,739 (£375,458 in 2020-21), during this financial year discounts apply to members of staff, sibling discounts and to pupils with parents in the armed forces.

The Charity has combined with other charities to provide educational benefits to those unable to afford the fees.

3

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

FOR THE YEAR ENDED 31 AUGUST 2022

FINANCIAL REVIEW

General review

The principal income for the School is derived from the fees charged to parents. There is additional income from letting the School’s premises and facilities when not in use by the School and a separate non-charitable Trading Subsidiary (Battle Abbey School (Enterprises) Ltd) was established to manage wedding hires on 1 Sep 2017. The activities and trading performance of the subsidiary are detailed in note 15 and its results are consolidated in these financial statements.

One key project undertaken during the year was the conversion of lighting on all sites to LED to help the Charity use energy more sustainably.

Governors agreed that the fees for 2022-23 would be increased by 5% and that support staff would receive a general pay-rise of 3.5% with the core salary for teaching staff matching the maintained sector increases. The financial results for the year are shown in the statement of financial activities on page 11.

Performance is monitored against key performance indicators to provide evidence that the School is achieving the objectives set by Governors. These targets are aimed at ensuring the long-term viability of the Charity and are used to inform strategic planning and management. They are kept under constant review by the Finance and General Purposes Committee, having regard to national and local economic conditions. The key performance indicators cover a range of areas including salary costs as a percentage of net fee income, bursary support and cash reserves.

Reserves policy

Reserves of the Charity have been expended in recent years in carrying out maintenance and improvements to the School’s freehold properties and leasehold property and the servicing of mortgages. The Charity’s reserves (excluding restricted funds) as stated in the balance sheet are principally represented by fixed assets held for charitable use. One of the School’s strategic priorities is to create an uncommitted fund of about £2M by Aug 2023 and accounts on the year under review confirm this threshold to be met of August 2022. Governors will keep this figure under review along with other strategic priorities.

PLANS FOR THE FUTURE

Governors’ vision is that Battle Abbey School will remain one of the best small independent family schools in the country offering academic excellence together with exceptional pastoral care and personal development to its pupils. This will include the promotion of soft skills, the breadth of opportunities for students and by developing the best possible environment in which to prepare students for life beyond the Abbey.

The Governors gave direction that, having ensured financial security, the resulting strategic objectives are, in order of priority to maintain exceptional pastoral care where safeguarding is paramount; to achieve and maintain academic excellence and to provide suitable and appropriate teaching, pastoral and then sporting facilities for the school.

4

B A S (SCHOOL) LIMITED (LIMITED BY GUARA￿rE£l GOVERNORS. REPORT {INCORPORATING THE STRATEGIC REPORT} FOR THE YEAR ENDED 31 AUGusf 2022 DISCLOSURE OF INFORMATK>N TO AUDITORS Eath of the Governor5 ha5 confirmed there 15 no information ofwhirh they are aware that15 relevant to the audit, but of whlch the audltor Is unaware. They have further confirmed that they have taken approprlate steps to Identlfy anv such rel￿ant Infomiation and to estsbllsh that the audltor Is aware of such Infomiatlon. This report, indudingthestrategic Report, was approved bytheGOvern￿s, asthe Ditpctors of the charitablecompany. on 23, February 2023 and slgned on thelr behaw by.. MIJML ngwell CBE Date:............ ...... 2023

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE) STATEMENT OF GOVERNORS’ RESPONSIBILITIES

The Governors, who are also the directors for the purposes of company law, are responsible for preparing the Governors' Report (including the Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard in the UK and the Republic of Ireland'.

Company law requires the governors to prepare financial statements for each financial year which give a true and fair view of the affairs of the charitable company and group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company and group for that year.

In preparing these financial statements the governors are required to:

The Governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and group and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

6

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

Opinion

We have audited the financial statements of B A S (School) Limited (‘the charitable company’) and its subsidiary (‘the group’) for the year ended 31 August 2022 which comprise the Consolidated Statement of Financial Activities, the Group Balance Sheet, the School Balance Sheet, the Cashflow Statement 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:

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 governor's 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 or the parent charitable company'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 other information comprises the governors’ report, which includes the directors’ report (and the strategic report), other than the financial statements and our auditor’s report thereon. The governors are responsible for the other information. 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.

7

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS (CONTINUED)

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and the parent charitable company and its environment obtained during the audit, we have not identified material misstatements in the directors’ report (or the strategic report) included within the governors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require(s) us to report to you if, in our opinion:

Responsibilities of the governors

As explained more fully in the governors’ responsibilities statement, 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 trustees 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 trustees 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 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.

8

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS (CONTINUED)

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 based on these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

In preparing the financial statements, the trustees 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 trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

9

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS (CONTINUED)

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.

Use of our report

This report is made solely to the group’s and the 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 group’s and to the 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 group and the group's members as a body, for our audit work, for this report, or for the opinions we have formed .

Mark Cummins FCCA (Senior Statutory Auditor) for and on behalf of TC Group Statutory Auditor Office: Steyning, West Sussex

Dated: 20 March 2023

10

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2022

Notes Unrestricted
Funds
£
INCOME FROM:
Donations and grants
6
-
Other trading activities
7
265,851
Investments
8
5,678
Charitable activities
9
7,954,342
Total Income
8,225,871
EXPENDITURE ON:
10
Raising funds
184,956
Charitable activities
6,922,894
Total expenditure
7,107,850
Net income/(expenditure)
1,118,021
Transfers between funds
24
-
Net movement in funds
1,118,021
Funds balances brought forward
7,805,439
Fund balances carried forward
24/25
8,923,460		 Restricted
Funds
£
12,297
-
-
-
12,297
-
10,502
10,502
1,795
-
1,795
97,495
99,290		 Total
2022
£
12,297
265,851
5,678
7,954,324
8,238,168
184,956
6,933,396
7,118,352
1,119,816
-
1,119,816
7,902,934
9,022,750		 Total
2021
£
91,324
85,730
13,121
7,250,348
7,440,523
89,554
6,345,899
6,435,453
1,005,070
-
1,005,070
6,897,864
7,902,934

All income and gains for the year are recognised above. All of the school's activities are classed as continuing.

The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

11

B A S (SCHOOL) LIMITED (LIMITED BYGUARAMfEE} CONSOLIDATED BALANCE SHEET FOR THE YEAR EAIDED31 AUGUST2022 2022 2021 Notss FIXED ASSErs Tan8lble assets 7W37,738 7.951,392 CURRENT ASSET5 Stocks Debtors Cash at bank and In hand 3,007 1,897 263,275 3,243.568 3,508,740 3,881,199 4.287,254 CURRENT LIABI￿lEs Credltors due within one year 17 (1259.2421 12.350,0371 NEf CURRENT ASSEfsiiLIABIUYJES) 2,Q28.012 1,158,703 TOTAL ASSEfs LESS CURRENT UA8ILITIES 9.925,750 9.110.095 LONG TERM LIABILITIES Credriors due after one year 1905,000) 11,207,161) NEfASSErs 9,022,750 7,902,934 REPRESEvifED BY: RESTRicfED FUNDS 24125 99,19LI 97.495 UNREsfRICTED FUNDS 24125 8.923A60 7,805,439 9,021750 7,902,934 The attounts were approved by the Full Court of Govemor5 and slgned on their behalf by: adml J Kin (Chairl Date: 12

B A S (SCHOOL) LIMITED {LIMITED BY GUARANTEE) COMPANY BALANCE SHEET FOR THE YEAR ENDED 31 AUGUST2022 2022 2021 Notes HXED ASSETS Tangible assets Investments 7.985.983 7,948,686 15 7,895,984 7,948,687 CURRENT ASSErs Debtors Cash at bank and In han 16 464A12 3fi30.154 4Jb94,566 267,695 3.143,152 3.410,847 CVRREKf LIABIL￿lEs editors due withln one year 17 12,149A371 12,262.9551 NEf CURREKr ASSETS/IUA8ILITIES) 1,945,130 1,147,893 TOTALASSEfs LESS CURRENT LIABIUTIES 9WI,113 9,096,580 L014G TERM LIABILITIES Credltors due after one year 1903,000) 11,207,161) NEfASSErs 8,938,113 7.889,419 REPRESENTED BY: RESTrICTED FUNDS 24125 99,290 97,495 uNREsTRI￿ED FUNDS 24125 8,838823 7,791,924 8,938,113 7,889,419 The accounts were approved by the Full Court of Governors and signed on their behalf by: Radml J Kin Ichairl Date.. 13

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 AUGUST 2022

Notes
Cash flows from operating activities:
Net income/expenditure for the year
Adjustments for:
Depreciation charges
14
Dividends, interest and rents from
investments
8
Financing costs
(Increase)/decrease in stock
(Increase)/decrease in debtors
17
Increase/(decrease) in creditors
18,19
Net cash provided by/(used in) operating
activities
Cash flows from investing activities:
Dividends, interest and rents from
investments
8
Financing costs
Purchase of tangible fixed assets
14
Net cash used in investing activities
Cash flows from financing activities:
Repayment of bank loans
17/18
Repayment of other loans
17/18
Net cash provided/(used in) financing
activities
Change in cash and cash equivalents in the
year
Cash and cash equivalents at the beginning
of the year
Cash and cash equivalents at the end of the
year
Analysis of cash and cash equivalents
Cash in hand
Cash at bank
Total cash and cash equivalents		 2022
£
£
1,119,816
305,531
(5,678)
27,230
(1,110)
(139,777)
(223,823)
1,082,189
5,678
(27,230)
(251,877)
(273,429)
(131,137)
(39,992)
(171,129)
637,631
3,243,568
3,881,199
1,086
3,880,113
3,881,199
3,881,199		 2021
£
£
1,005,070
293,625
(13,121)
36,717
(861)
(14,754)
(21,025)
1,285,651
13,121
(36,717)
(561,634)
(585,230)
(361,285)
(39,996)
(401,281)
299,140
2,944,428
3,243,568
5,118
3,238,450
3,243,568
3,243,568		 2021
£
£
1,005,070
293,625
(13,121)
36,717
(861)
(14,754)
(21,025)
1,285,651
13,121
(36,717)
(561,634)
(585,230)
(361,285)
(39,996)
(401,281)
299,140
2,944,428
3,243,568
5,118
3,238,450
3,243,568
3,243,568
5,678
(27,230)
(251,877)		 13,121
(36,717)
(561,634)
(131,137)
(39,992)		 (361,285)
(39,996)
1,086
3,880,113		 5,118
3,238,450
299,140
2,944,428
3,243,568
3,243,568
3,243,568

14

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

1 STATUTORY INFORMATION

B A S (School) Limited is a charitable company, limited by guarantee, registered in England and Wales. The registered office, company number and charity number are detailed in the Legal and Administrative Information.

2 ACCOUNTING POLICIES

2.1 Basis of accounting

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), "Accounting and Reporting by Charities" the Statement of Recommended Practice for charities applying FRS 102 and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the group. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

The charitable company meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy.

At the time of approving the financial statements, the Full Court of Governors have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Governors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.2 Group financial statements

The financial statements consolidate the results of the charity and its wholly owned subsidiary on a line by line basis. A separate Statement of Financial Activities (including income and expenditure account) for the charity has not been presented as the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

2.3 Income

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Income is recognised net of VAT, where applicable.

Investment income and rental income is accounted for on an accruals basis.

Income from donations, legacies and grants is recognised when the charitable company is legally entitled to it, it is probable that the income will be received and the amount can be measured reliably. Where a donor or an appeal has imposed restrictions the income is credited to a restricted fund.

School fees receivable, lettings and extra charges are accounted for in the period in which the service is provided. Where fees are received for a future service period they are included in deferred income.

2.4 Expenditure

Expenditure is included in the accounts on an accruals basis, as soon as a liability is considered probable. Irrecoverable VAT is included with the item of expenditure to which it relates

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

15

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

2 ACCOUNTING POLICIES (continued)

All costs are allocated between expenditure categories and departments on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Freehold land - not depreciated
Freehold buildings - 50 years straight line
Leasehold property - 50 years straight line
Long-life fixtures, fittings & equipment - 15 years straight line
Astroturf - 10 years straight line
Fixtures, fittings & equipment - 5 years straight line
Motor vehicles - 4 years straight line
Computer equipment - 3 years straight line

At each reporting end date, the Charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such impairment exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Fixed assets below the value of £500 are not capitalised.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

2.6 Investments

Investments in subsidiaries are measured at cost and reviewed annually for impairment.

2.7 Stock

Stock is stated at the lower of cost and net realisable value.

2.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Basic financial instruments are recognised at amortised cost.

2.9 Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

2.10 Cash at bank and in hand

Cash at bank and in hand includes cash in hand and deposits held at call with banks.

16

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

2 ACCOUNTING POLICIES (continued)

2.11 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably

2.12 Fund accounting

Unrestricted funds are available for use at the discretion of the Full Court of Governors in furtherance of the charitable objectives unless the funds have been designated for other purposes.

Designated funds comprise funds which have been set aside at the discretion of the Full Court of Governors for specific purposes.

Restricted funds are those funds that can only be used for particular restricted purposes in accordance with the wishes of the donor or when funds are raised for particular restricted purposes.

2.13 Leasing and hire purchase commitments

Rentals payable under operating leases, including any lease incentives received, are charged to the Statement of Financial Activities on a straight line basis over the term of the relevant lease.

2.14 Employee benefits and termination benefits

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Teaching staff are members of the Teachers' Pension Scheme (TPS), a defined benefit scheme administered by the Teachers' Pension Agency. Contributions to the scheme are charged to the Statement of Financial Activities as they fall due. The TPS is an unfunded scheme. Contributions on a 'pay as you go' basis are credited to the exchequer under arrangements governed by the Superannuation Act 1972. Actuarial valuations are carried out on a notional set of investments. Under the definitions set out in FRS 102 the TPS is a multi-employer pension scheme. The charity is unable to identify its share of the underlying (notional) assets and liabilities of the scheme. Accordingly, under FRS 102 the scheme is accounted for as if it were a defined contribution scheme.

The Charity also makes defined contribution payments to a stakeholder pension scheme for non-teaching staff. Employer pension contributions are charged in the period in which they fall due.

2.15 Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the Governors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

17

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

Judgements and key sources of estimation uncertainty (continued)

(i) Multi-employer defined benefit pension scheme

Certain employees participate in a multi-employer defined benefit pension scheme with other entities. In the judgment of the governors, the charity does not have sufficient information on the plan assets and liabilities to be able to reliably account for its share of the defined benefit obligation and plan assets. Therefore the scheme is accounted for as a defined contribution scheme, see note 22 for further details.

b. Critical accounting estimates and assumptions

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 14 for the carrying amount of tangible assets, and note 2.5 for the useful economic lives for each class of assets.

(iii) Impairment of debtors

The charity makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

3 TURNOVER

The turnover of the charity is wholly attributable to the objects of the charity as stated in the Governors' Report and is earned entirely within the UK.

4 NET INCOME/(EXPENDITURE)

This is stated after charging:

2022 2021
£ £
Operating lease payments 138,615 153,585
Stocks recognised as an expense 14,381 5,486
Loan interest payable 27,230 36,717
Depreciation 305,531 293,625
Auditors’ remuneration – audit services 19,390 14,350
Auditors’ remuneration – non-audit services 3,350 567

5 TAXATION

The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010

18

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

6 INCOME FROM DONATIONS AND GRANTS

Unrestricted
£
Donations
-
Coronavirus Job Retention Scheme
grants
-
-
7
INCOME FROM OTHER TRADING ACTIVITIES
Unrestricted
£
Lettings and rental income
15,371
Subsidiary trading income
250,480
265,851
8
INCOME FROM INVESTMENTS
Unrestricted
£
Interest receivable
5,678
9
INCOME FROM CHARITABLE ACTIVITIES
Gross school fees
Less:
bursaries, scholarships and allowances
Covid-19 discounts
Net school fees
Add:
Scholarships, bursaries and awards from restricted funds
Registration fees
Extras income
School bus/transport income
Swimming pool hire		 Restricted
£
12,297
-
12,297
Restricted
£
-
-
-
Restricted
£
-		 Restricted
£
12,297
-
12,297
Restricted
£
-
-
-
Restricted
£
-
Total
2022

£

12,297
-
12,297

Total
2022

£

15,371

250,480
265,851

Total
2022

£

5,678
Total
2022
£
8,695,572
(1,200,753)
-
7,494,819
10,502
19,656
192,732
140,203
96,430
7,954,342
Total
2022

£

12,297
-
12,297

Total
2022

£

15,371

250,480
265,851

Total
2022

£

5,678
Total
2022
£
8,695,572
(1,200,753)
-
7,494,819
10,502
19,656
192,732
140,203
96,430
7,954,342
Total

2021

£

41,842
49,482
91,324

Total

2021

£

22,811
62,919
85,730

Total

2021

£

13,121
Total
2022
£
8,695,572
(1,200,753)
-
7,494,819
10,502
19,656
192,732
140,203
96,430
7,954,342		 Total
2021
£
8,068,481
(1,147,192)
(44,441)
6,876,848
15,151
18,233
160,770
128,421
50,925
7,250,348





19

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

10 ANALYSIS OF EXPENDITURE

Staff

Costs
£
Cost of raising funds:
Other trading activities
298
Financing costs
-
Total cost of raising funds
298
Charitable expenditure
Education
Teaching
3,658,436
Welfare
232,940
Premises
167,676
Support and governance
619,207
Bursaries from restricted
funds
-
Total charitable
expenditure
4,678,259
Total expenditure
4,678,557
Analysis of support and governance costs:
Governance costs:
Auditors remuneration for
audit services

Support costs:
Auditors’ remuneration for
non-audit services

Legal and professional fees
relating to support

Support staff wages,
national insurance and
pension
Advertising and promotion
Commission to agencies
Subscriptions and licences
Telephone
Other support costs		 Depreciation
£

951

-

951

117,773

-

186,808

-
-
304,581

305,532
Other
Costs
£

156,477

27,230

183,707

392,206

254,379

769,131

524,338
10,502
1,950,556

2,134,263


 Total
2022
£

157,726

27,230

184,956

4,168,415

487,319

1,123,615

1,143,545
10,502
6,933,396


7,118,352


2022
£

19,390


3,350
64,067
619,207
80,546
99,058
65,280
41,142
151,505
1,143,545		 Total
2021
£
52,837

36,717

89,554

3,847,278

524,911

1,077,199

881,360
15,151
6,345,899
6,435,453
2021
£
14,350
567
16,109
497,227
48,251
57,418
56,474
56,252
134,712
881,360

20

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

11 PROFIT AND LOSS ON SPECIFIC ACTIVITIES

Swimming pool
Wedding lettings (subsidiary trading results)
School bus		 Income
£
96,430
256,497
140,203
493,130
Costs
£

(126,282)

(172,025)

(157,262)
(455,569)		 Profit/(Loss)
2022
£
(29,852)
84,472
(17,059)
37,561		 Profit/(Loss)
2021
£

(65,680)

13,516
(81,730)
(133,894)

12 STAFF COSTS

The average monthly number of employees during the year split between relevant departments was:

Teaching
Welfare
Domestic
Administration		 2022
Number
58
39
34
15
146		 2021
Number
55
38
33
15
141

The aggregate payroll costs for the year were as follows:

Wages and salaries
Social security costs
Other pension costs		 2022
£
3,822,178
338,215
518,164
4,678,557		 2021
£
3,589,741
304,825
496,958
4,391,524

None of the governors received any remuneration or other benefits from the school or any connected body during the year and no governors were reimbursed any expenses during the year or prior year.

Staff earning in excess of £60,000 per annum in the following bands are:

2022 2021
Number Number
£60,000 - £69,999 2 1
£70,000 - £79,999 1 1
£90,000 - £99,999 1 0

21

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

STAFF COSTS (continued)

Of the employees whose emoluments exceed £60,000, 4 (2021: 1) has retirement benefits accruing under defined benefit schemes and nil (2021: 1) has retirement benefits accruing under defined contribution schemes. Contributions payable by the school to those schemes for higher paid employees were:

2022 2021
£ £
Defined benefits schemes 34,475 20,838
Defined contribution schemes - 5,200

The key management personnel of the school are detailed in the Governors' Report and Legal and Administrative Information.

2022 2021
£ £
Aggregate employee benefits of key management personnel (including
employer pension contributions)		 515,677 488,059

Ex gratia payments of £51,350 (2021: £5,000) were paid during the year. The ex gratia payments were in relation to employment severance.

13 COMPARATIVE CONSOLIDITATED STATEMENT OF FINANCIAL ACTIVITIES – 31 AUGUST 2021

INCOME FROM:
Notes
Donations and grants
6
Other trading activities
7
Investments
8
Charitable activities
9
Total income
EXPENDITURE ON:
10
Raising funds
Charitable activities
Total expenditure
Net income/(expenditure)
Transfers between funds
24
Net movement in funds
Fund balances brought forward
Fund balances at carried forward
24/25		 Unrestricted
funds
£
49,482
85,730
13,121
7,250,348
7,398,681
89,554
6,330,748
6,420,302
978,379
-
978,379
6,827,060
7,805,439		 Restricted
funds
£
41,842
-
-
-
41,842
-
15,151
15,151
26,691
-
26,691
70,804
97,495		 Total
funds
£
91,324
85,730
13,131
7,250,348
7,440,523
89,554
6,345,899
6,435,453
1,005,070
-
1,005,070
6,897,864
7,902,934

22

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

14 TANGIBLE FIXED ASSETS – CONSOLIDATED GROUP AND SCHOOL

Cost/Revaluation
At 1 September 2021
Additions
At 31 August 2022
Depreciation
At 1 September 2021
Charge for year
At 31 August 2022
Net Book Value
At 31 August 2022
31 August 2021		 Freehold
Land and
Buildings

£
7,032,800
22,553
7,055,353
702,058
132,623
834,681
6,220,672
6,330,742		 Leasehold
Property
Short Lease
£

2,162,444

134,082

2,296,526

847,216

58,736

905,952

1,390,574

1,315,228		 Fixtures,
Fittings &

Equipment
£

1,349,342

95,242

1,444,584

1,050,111

107,981

1,158,092

286,492

299,231		 Motor
Vehicles
£

58,723

-

58,723

52,532

6,191

58,723

-

6,191		 Total
£

10,603,309

251,877

10,855,186

2,651,917

305,531

2,957,448
7,897,738

7,951,392

The leasehold property book value represents the cost, less depreciation, of improvements to the land and buildings leased from English Heritage.

Included in the above is £1,756 (2021: £2,706) net book value of fixtures, fittings and equipment which relate to the subsidiary company.

The cost of freehold property includes £1,915,000 for land and buildings revalued to fair value on 1 September 2014, valued by Harold Stiles Williams, an independent valuer. The Governors took advantage of the transitional arrangements available to treat as deemed cost the fair value as at 1 September 2014 of some freehold land and buildings, and to continue to depreciate them over their remaining estimated useful lives.

If the land and buildings had not been revalued they would be included at the following historical cost:

Cost
Aggregate depreciation
Net book value
Value of land and buildings		 2022
£
1,474,652
(516,273)
958,379
1,065,000
2021

£

1,474,652
(471,984)

1,002,668

1,065,000

23

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

15 INVESTMENTS

Investments in subsidiaries

The school held investments in the following companies during the year:

Battle Abbey School Enterprises Limited Registered in England and Wales Company number 10892751 % of share capital owned 100%

The wholly-owned trading subsidiary was incorporated in England and Wales on 1 August 2017 with the purpose of taking over the wedding and lettings activities of the school. The registered office address is Battle Abbey School, High Street, Battle, East Sussex, United Kingdom, TN33 0AD.

Summary of trading results
Turnover
Administrative expenses
Donation to parent entity
Net profit/(loss)
Summary balance sheet
Fixed assets
Current assets
Creditors falling due within one year
Net assets
Aggregate share capital and reserves
Contribution by parent company
The parent charity contributions to the results for the year is as follows:
Income
Expenditure
Net income/(expenditure) for the year		 Battle Abbey School
Enterprises Limited
2022
2021
£
£
256,497
64,458
(172,025)
(50,942)
-
-
84,472
13,516
1,755
2,706
255,175
106,765
(172,457)
(95,954)
84,473
13,517
84,473
13,517
7,981,671
7,376,065
(6,946,327)
(6,384,511)
1,035,344
991,554		 Battle Abbey School
Enterprises Limited
2022
2021
£
£
256,497
64,458
(172,025)
(50,942)
-
-
84,472
13,516
1,755
2,706
255,175
106,765
(172,457)
(95,954)
84,473
13,517
84,473
13,517
7,981,671
7,376,065
(6,946,327)
(6,384,511)
1,035,344
991,554

13,516

2,706

106,765

(95,954)

13,517

13,517

7,376,065

(6,384,511)

991,554

16 DEBTORS

Fee debtors
Amounts due from subsidiaries
Prepayments and accrued income
Other debtors		 Group
2022
2021
£
£
226,253
111,894
-
-
101,573
149.881
75,222
1,500
403,048
263,275		 School
2022
2021
£
£
226,253
111,894
62,487
8,872
100,450
146,929
75,222
-
464,412
267,695

24

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

17 CREDITORS: due within one year

Bank loans (note 19)
Other loans
Trade creditors
Accruals and other creditors
Fees in advance
Advance fees payment scheme (note 20)
Deposits
Other taxes and social security		 Group
2022
2021
£
£
132,650
130,158
40,000
40,000
36,960
140,789
247,112
274,072
1,050,618
930,743
216,113
352,040
409,156
391,894
126,633
90,341
2,259,242
2,350,037		 School
2022
2021
£
£
132,650
130,158
40,000
40,000
17,166
130,953
203,494
208,413
1,050,618
930,743
216,113
352,040
409,156
391,894
80,240
78,754
2,149,437
2,262,955

Fees in advance represent amounts due for Winter term 2022.

Amounts included as Advance Fees Payment Scheme are those received under an agreement for future year's fees. The money may be returned subject to specific conditions upon the receipt of one term's notice.

18 CREDITORS: due after one year

Bank loans (note 19)
Advance Fees Payment Scheme (note 20)
Other loans		 Group
2022
2021
£
£
503,455
637,084
159,453
289,989
240,092
280,088
903,000
1,207,161		 School
2022
2021
£
£
503,455
637,084
159,453
289,989
240,092
280,088
903,000
1,207,161

Other loans of £280,092 (2021: £320,088) consist of a concessionary loan which is repayable over 8 years in instalments and is interest free. This loan is secured against freehold property at 22 Upper Lake, Westnedge House, Battle TN33 0AN.

19 BANK LOANS – SCHOOL

Bank loans are wholly repayable in instalments as follows:
Less than one year
In more than one year but less than two years
In more than two years but less than five years
In more than five years		 2022
£

132,650
136,242
367,213
-
636,105		 2021
£
130,158
132,651
391,345
113,088
767,242

The Charity has 2 bank loans, 1 of which are repayable by way of monthly instalments over 4 years and 1 over 6 years. Interest is charged at 2.42% and 2.54% respectively. All loans are secured against freehold properties.

25

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

20 ADVANCE FEES PAYMENT SCHEME - SCHOOL

Parents may enter into an agreement to pay to the school tuition fees in advance. The money may be returned subject to specific conditions upon the receipt of one term's notice. Assuming pupils will remain in the school, advance fees will be applied as below:

Amounts due within one year
Amounts due after more than one year but less than two years
Amounts due after more than two years but less than five years		 2022
£
216,113
159,453
-
375,566		 2021
£
352,040
189,338
100,651
642,029

The balance represents the accrued liability under the agreements. The movements during the year were as follows:

Balance as at 1 September 2021
Amounts received in year
Amounted credited to pupil accounts for fees
Balance as at 31 August 2022		 2022
£
642,029
111,410
(377,873)
375,566		 2021
£
612,884
117,852
(88,707)
642,029

21 OPERATING LEAVE AND CAPITAL COMMITTMENTS

At 31 August 2022 the school had total commitments under non-cancellable operating leases payable as follows:

Within one year
Between one year and five years		 Land & Buildings
2022
2021
£
£
118,105
118,105
111,105
222,210
229,210
340,315		 Other
2022
2021
£
£
13,407
20,510
1,921
15,327
15,328
35,837

At 31 August 2022 the school had total other commitments as follows:

2022 2021
£ £
Authorised and contracted for - -

26

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

22 PENSION COMMITTEMENTS

The School participates in the Teachers' Pension Scheme ("the TPS") for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £468,154 (2021: £437,059) and at the year-end £51,884 (2021: £50,992) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%.

The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However, the assumptions were considered and set by the Department for Education prior to the ruling in the ‘McCloud/Sargeant case’. This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions including the Teachers’ Pensions.

On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appeal’s judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Court’s decision and has said it will engage fully with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remedied. The government announced on 4 February 2021 that it intends to proceed with a deferred choice underpin under which members will be able to choose either legacy or reformed scheme benefits in respect of their service during the period between 1 April 2015 and 31 March 2022 at the point they become payable.

The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal’s ruling in the McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020, and a consultation was launched on 24 June on proposed changes to the cost control mechanism following a review by the Government Actuary. Following a public consultation, the Government have accepted three key proposals recommended by the Government Actuary, and are aiming to implement these changes in time for the 2020 valuations.

The 2016 cost control valuations have since been completed in January 2022, and the results indicated that there would be no changes to benefits or member contributions required. The results of the costs cap valuation are not used to set the employer contribution rate, and HM Treasury has confirmed that any changes to the employer contribution rate resulting from the 2020 valuations will take place in April 2024.

Until the 2020 valuation is completed it is not possible to conclude on any financial impact or future changes to the contribution rates of the TPS. Accordingly, no provision for any additional past benefit pension costs is included in these financial statements.

27

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

PENSION COMMITTEMENTS (Continued)

The school also contributes to defined contribution schemes on behalf of its other staff. Employer contributions payable to these schemes were £50,000 (2021: £59,899) and at the year end £9,896 (2021: £9,303) was accrued in respect of contributions due to these schemes.

23 SHARE CAPITAL AND CONTROL

The charity is limited by guarantee and does not have a share capital. In the event of a winding up each member guarantees to contribute an amount of no more than £10.

24 SUMMARY OF FUND MOVEMENTS

Unrestricted funds
General reserves
Restricted funds
Bursary and Appeal
Fund
Nursery School Fund
Total funds		 Balance at 1
September
2021
Income
Expenditure
Transfer
Gains/
(losses)
Balance at
31 August
2022
£
£
£
£
£
£
7,805,439
8,225,871
(7,107,850)
-
-
8,923,460
94,109
12,297
(10,502)
-
-
95,904
3,386
-
-
-
-
3,386
97,495
12,297
(10,502)
-
-
99,290
7,902,934
8,238,168
(7,118,352)
-
-
9,022,750

Restricted funds:

Bursary and Appeal Fund - Provides funds to go towards bursaries for pupils and also for specific projects. Unrestricted income has been transferred to this restricted fund in the current year as agreed by the Governors.

Nursery School Fund - Funds are allocated by East Sussex County Council to enable eligible nurseries to enhance their approaches towards and provision of healthy eating and physical activity based on needs identified through completion of a baseline healthy eating / physical activity audit.

25 ANALYSIS OF NET ASSETS BETWEEN FUNDS


Fund balances at 31 August 2022 are represented by
Fixed assets
Current assets
Creditors: less than one year
Creditors: more than one year		 Unrestricted
Funds
£
7,897,738
4,187,964
(2,259,242)
(903,000)
8,923,460
Restricted
Funds
£

-

99,290

-
-

99,290		 Total
2022
£

7,897,738

4,287,254

(2,259,242)

(903,000)

9,022,750

28

B A S (SCHOOL) LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)


Fund balances at 31 August 2021 are represented by
Fixed assets
Current assets
Creditors: less than one year
Creditors: more than one year		 Unrestricted
Funds
£
7,951,392
3,411,245
(2,350,037)
(1,207,161)
7,805,439
Restricted
Funds
£
-
97,495
-
-

97,495		 Total
2021
£
7,951,392
3,508,740
(2,350,037)

(1,207,161)

7,902,934

26 RELATED PARTIES

The school has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. The school has also taken advantage of the exemptions under the Charities' Statement of Recommended Practice (SORP (FRS 102)) not to disclose services provided on a voluntary basis by governors, contracts of employment between the school and its employees, and the repayment of out-of-pocket expenses where the governors have acted as agent for the school.

There were no other related party transactions in either 2022 or 2021. Details of key management personnel compensation can be found in note 12 to these financial statements.

29

EST on.1 tc accounts . tax . legal . financial planning Audit Findings Report B A S (School) and its subsidiary company, Battle Abbey School Enterprises Ltd For the year ended 31 August 2022 Presented to the Governors and ManaRement Team

Contents l. Introduction and Coverage 2. Independence 3. The Audit Process 4. Qualitative Asperts of Accountlng Practlces and Financial Reporting 5. Audit and Accountinglssues Identified Durlng the Audit 6. Audit Misstatements Appendix i Letter of Rep￿sentatIOn io Appendlx11 Flnancial Performance Report 17 Your contacts in connection with this report are: Mark Cummlns- Partner markcummlns@TC-Group.com Beth Laws- Audli 5er¥ices bethlawS@TC￿roUp.¢OM

l. Introduction and Coverage Purpose of th5s Report The purpose of this report is to set out certain matters that came to our attention during the course of the audit of B A S (School) Limited I'Battle Abbey School'l and Its subsldiary company, Battle Abbey School Enterprises Ltd I'Enterpri5e5'1 for the year ended 31 Au8USt 2022. In orderto comply w￿h the provlslons of Intemationalstandards onAuditingwe are required to report to you our audit flndings and in particular: The nature and scope of the audlt workwe have undertaken: Vlews about the qualitatfve aspects of your accountln8 practlces and financial reportln8: Unadjusled and adjusted mlsstatements; Matters speciflcalty required by Audlting Standards to be communicated to those charged wrth governan￿(SUCh as fraud and error),. Expected modificatlons to our auditorf5 repor¢. Material weaknesses in the accountlnE and internal control systems: and Any other relevant and material matters relating to the audlt. LSmltallons Our audit procedures, which have been designed to enable us to express an opinlon on the Flnancial Statements, have included on examlnation of the transactions and the controls thereon of the group. The workthat we have done was not primarlly directed toward5 Identlfyin8 weaknesses in thegroup's accounting systems other than those that would affert ouraudlt opinion. nortothe detection of fraud. We have included in thi5 report On￿ those matters that have tome to our attention as a result of our normal audit procedures and, consequently. our comments should not be regarded as comprehen5fve record of all weaknesses that may exist or improvements that could be made. To a ￿rtaIn extent the content of this paper comprises general Informatlon that has been provided by. or Is based on discussions with, management and staff. Except to the extent necessary for the purposes of the audit. this infom)ation has not been Independently verified. Resppn51bllltles The Trustees are responsible for preparingthe Governors. Report and Flnancial Ststernents. TCGroup, as auditOf5 of Battle Abbey School and Enterprises. are responslble for fomiin8 an oplnion on the Financial Statements. This report is to be regarded as confidentlal to the Governors and is intended for use by them and staff of the group only. No reswnsibility ts accepted to any other person in respett of the whole or part of its contents. B￿Ore this report, or any part of it, is dlsclosed to a thlrd party our consent must be obtained. Audit Findings Report l Battle Abbey School

  1. Independence AuditingStandard5 require us to communlcate at leastonce a year regarding all relationshlps between TC Group and the group that may reasonabty be ihought to have a bearfng oft our independen￿. We have reviewed our independence and confirm that TC Group 15 independent wlthln the meanlng of ￿gUlatOry and professional requlrements. In partlcular the objectfvity of our partner, Mark Cummins, and hls audrt team is not impalred. Our revlew Included eonsideration of whether: The firm Is dependent on the 8roup as a client due to the slgnlfIcan￿ of the audlt fee to the firm; The fim is owed slgnlficant overdue fees: There is any artual or threatened Irti8ation between the fimi and the Broupi Any beneffts have been recelved by the audll team which are not modest: The fimi has any mutual business interest with ihe group- Any members of the audit team have any personal or famlty; Connections wlth the school or officer5. or In(lependence Is Impalred through the provision of services other than the statutory audit. A5 part of our evaluation of the fimi's Independence and objectfvlty In connectlon wlth the audlt we have identlfied some factor5 whlch could potentialty affect our Independence or objectivty, forwhich we have applled approprrJte safeguards. These a￿ detailed below, and we are satisfied that the safeguards Implemented are sufficient to mitigate any threat to our independence and objectfvlty. Thr&it to objectivity and independence Safeguard Implemented Self review threat from our asslstance wlth the preparation of the financial statements. The financial 5tatemenls are prepared and revlewed by a team separate to the audit tea m, and they are revlewed and approved by the Governors. Self review and management threat from processln8 journal adjustments. Journal adjustments land unadjusted | journals) are approved by the Governors in writing. Self revlew threat from the preparation of the corporation tax computation and return. Tax computations and retu rns are prepared and reviewed by a speclallst tax adviser, independent of the audlt. Audit Findings Report l Battle Abbey School

  2. The Audit Process SCOPE As auditors we are re5wnslble for forming and expressing an opinion on whether the flnanclal statements of the School show a true and fair vlew of the state of the group's affairs at 31 August 2022. Our audit work Is designed to provlde the required assurance that the financial statements are f￿e from material error. However, our audit of the financial statemeTrts Is not a comprehensive report covering all systems and controls. AUDIT APPROACH Our general audft approach was based on a thorough understanding of the group's business and determlned by our assessment of the audlt risk. In particular this included.. An evaluatitin of the grourfs internal control envlronment: and Substsntive testing on si%nihcant tran5actlons and material account Ixlances. We would like to take this opportunity to thank Uta Acuna, Helen Cosby and the team for all of their support and a5SIStan￿ during the audr(. The audlt work on the flnancial statements ts now substsntially complete and we antlclpate r55ulng an unqualified audit oplnion for the year ended 31 August 2022 forthe 8roup. followlng: Recelpt of approved financial statements 51gned by the Board. Receipt of a signed letter of representation.. and Receipt of the 51gned adjusted and unadjusted mi55tatements schedules to confimi the Governor5 are In agreement wtth the accounting treatment ofthese. We consideTthatthe audit approach adopted will provlde the Governors wr¢h the requSred confidence that a thorough and robust audit has been carrled out. Matters arising from our aud￿ that we wish to bring to your attention are set out in Section 4. MATERIALrrY We applythe Con￿pt of materiallty In plannln8 and perfom)In8 the audit, and in evaluatSng the effect of Identlfled mi%statements on the audlt and the Impact of uncorrected misstatements. We have assessed materfality forthis assignment by considerlng the total Income of the group. Where indivldual errors, or acojmulated errors found during the course of the audit, are in excess of materiallty. these are discussed with you and adjustments are made to the financial statements. Audit Findlngs Report l Battle Abbey School

  3. The Audit Process AUDIT M155fATEMEpirs A5 part of the requirements of Intemational Standards on Audltln8 we are required to report any audlt misstatements i(ientrfied by our work whlch have been adjusted in the accounts. These are detailed In sectlon 6 of ihls report. We are also required to separately report any audit mlsstatements Identified which are unadjusted, other than those which are °dearly trivial" to users of the Financial statements. These are atso set out in Section 6. RISK OF FRAUD AND ERROR IN THE HNANCIAL ￿ATEmE￿[r$ We are required under internatlonal audltlng standards to conslder fraud rlsk throughout the audlt. In particular we must consider management arran8emerrts for preventing and detecting fraud and error. Fraud risks may include asset sales at under value, supplieTS over billing for goods or SeN1￿$. misappropriation of assets and cheq(re frauds, as well as manipulatipn of financial resutts, Thls work Is now complete and has not identihed any matterswhich we wishto drawtoyour attentlon. LErrER OF REPREsEr￿ATIoN We have included a letter of representation (Appendix 11 for your review and approval. Itls Important th￿ this Is revlewed and approved by'those charged with governance.. Audit Findings Report | Battle Abbey School

  4. Qualitative Aspects of Accounting Practices and Financial Reporting ACCOUNTING POUCIES Financial Reportlng Standard 102 require5 that entities should review their accountln8 pollcles regularlyto ensure thatthey areapproprfate to their particulartircumstances forthe purpose of glvlng a true and fair vlew. We have revSewed the group's accounting pollcles. as stated in the financial statements, and confirm that they are appropriate to provide relevant. rellable. comparable and understandable infomiatlon. RELATED PARTY TrANSACTIONS We are required to focus on the klentlfication and assessment of the risk5 of materlal misstatement assoclated wrth related party relatlonships and transactions. We are requlred as an audlt team to discuss the risks of fraud assoclated wlth related partles and to perform speclflc procedu￿$ on any related party transactlohs outside the normal course of business. Transactions with related partles have been adequate￿ disclosed In the accounts. ACCOUNTING EsfiMATES As auditors, we are aware that the selected basls of an accountin8 estimate may have a significant impact on the financlal statements so In our work we need to Identlfy all accounting estimates and the basis of the estimate and. where we considerthere to be a hlgh estimation uncertalntyi ensure our audit work challenges the basis of the estimate. we must We are also required to consider the outcome of accountlng estlmates in prior perlods a5 a basi5 for our risk assessment in the current year. The most Sl8nificant accounting estlmates concern depreciatlon of flxed assets. reco8nltion of revenue. cost all¢xation, and the basis and talculation of the provtslon for bèd and doubtful debts. We have revlewed these accounting estimates for the school and conclude that they have been calculated on a basLs that is conslstent wlth our knowledge of the school and the sector as a whole. GOING CONCERN AND COVID-19 We have consldered the group's ability to contlnue as a golng concern for a perlod of at least 12 months from the date of approvin8 the accounts, with additional emphasis on the continued impact of COVID-19 and the current economlc situatlon. We are pleased to report that there is no modificatlon to our audit report. Audit Findings Report l Battle Abbey khool

  5. Audit and Accounting Issues Identified During the Audit We have prlorltlsed our recommendatlons Into the following categories: matters that we conslder fundamental and recommend addresslng a5 soon a5 POSslble matters we conslder slgnfficant that should be addressed wlthln a reasonable tlmeframe matters that would improve overall control or promote a more effldent practice 1.1 UPDATE ON PRIOR YEAR FINDINGS Issue During our audit testing it was found that the Charty Commission record of Trustee5 had not been updated for the appointment of a new Governor (Jonathan Watts) In the year. Update Charity Commission records have been verified as updatedforthe appolntment ofjonathan Watts. Issue During our audit testin8 we identified that one member of the team (Debble Grant) was not pald through the payroll, Instead vla Involce as a consultant. It appears as though this worker may meet the criteria of an employee. Under the IR35 legislation the School are responsible for dèterminin8 the employment status of a worker and, rf necessary, deducting ineome tax and national insurance eontribthions and paying these over to HMRC. Update This employee is now paid throu8h the payroll. 1.2 CURRENT YEAR FINDINGS Issue Durin8 our audwt testing It was found that the Charity Commission record of Trustees had an Incorrert appointment date for a new Governor (James Hookwayl and the 2021 accounts had been filed as qualified, when the audit opinion was unqualrffied. Audit Findings Report | Battle Abbey School

  6. Audit and Accounting Issues Identified During the Audit Reetxnmendatlon We would recommend that the Charlty Commlsslon Information is updated and thai regular reviews carried out to ensure Informatlon held Is accurate and up to date. Response Charlty Commission information will be updated In line wlth actlons Identified during full court meeting5 by the Clerkto the Governor5. Issue Durlng our audit testing petty cash was found to have been reconciled 6 monthly, contraryto stated financial procedures. Recommendatlon We would recommend that petty cash reconclllaiion Is carried out monthly as perfinancial procedures. Petty Cash reconciliatlon will be carried out at least monthly. •n¢e Issue The petty tash balance wa5 found to have exceeded the £3,000 limit per the Insuran￿ policy. Rec¢mmend•tion Wewould recOmMer￿ Increasift8 the cash Ilm￿ in the Insurnnce pollcy. Response The petty cash balance in the insurance policy Is £4.000. Excess cash was held due to events, all cash to be banked on completion of cashing up after each event. Audtt Findings Report | Battle Abbey School

  7. Audit and Accounting Issues Identified During the Audit Issue On a number of occa5iolls during our audit testing subsequent multiple Invol￿ were found to have the same sequential number as each other. Whlle the Involces were Identfflable by other detalls, per procedures, each invoice should have a separate sequential number. Recommendailon We would recommend th* expendlture Involces be glven sequential numbers, as per flnanclal pro￿dure$. Response Sequentlal numbering is in place, process is now overseen by one member of staff to avold future duplkatlon. These matters are Ilmlted to those whlch we have concluded are of sufficient importance to merit being reported to you. Asthe purpose of the audit is for us toexpress an oplnlon on the charws flnanclal statements, you will appreciate that our audit cannot necessarily be expected to disclose all matters that may be of interest to you and, a5 a re5ulr, the matters ￿Ported may not be the onty ones whlch exlst. s part of ourworl we consldered internal control relevant to the preparation of thefinanaal ststements. such that we were able to deslgn approprlate audlt procedures. Thi5 work wa5 not for the purpose of expre551ng an oplnlon on the effectlveness of Internal control. Audit Findings Report | Battle Abbey School

  8. Audit Misstatements We are required to communicate all adjusted and unadjusted mi55tatements, other than those that we belkve are clearty trivlal. to the Trustees. For this purpose we consider'deady trivlal. to be any matter less than £8,325. Increase or (deereosej to surplus Increose or (decrease) to NetAssets Adlu5ted Auth Kffi5Statements Late accrual for nursery and electrlcal works costs (School) 130.ocKJI 130,OLhJl Reversal of donation of profltsto the school IBASENTSI 84,473 84.473 Reversal of donatlon of profitsfrom the subsidiary (School) 184,4731 184,4731 Total adjusted mlsstatements (30,0001 130000) Increose or (decrease) to surplus Increuse or Idecreosej to NetAssets Unadjusted Audlt Mlsstatements Reanalysi5 of deblt balances on trade credltors led8Er1£93,0481 Ischooll Adlustments of English Heritsge rent prepayment Ischooll 8,641 8.641 Totsl unadjusted mlsstatements {decrease in Surplus) 8,641 8,641 We approve the ountlng treatment of the above adjusted misststements. Governor Date On behalf of behalf of the Board Au(iit Finding5 Report l Battle Abbey school

Appendix i Letter of Representation TC Group The Courtyard Shoreham Road Upper Beedlng Steynin8 West Sussex 8N44 3TN To Whom it may concem. Durlng the course of your audrt of our financial statements for B A S (School) Limited for the year ended 31 August 2022, the followin8 representation5 were made to you by management and Trustees. l. We ackrthvledge as Govemors our responslbllltles underthe Companles Act 2006 and Charities Act 2011 for preparing FinantL31 Statements in accordance wrfth the appllcable accounting framework, SORP 2015 Financlal Reportlng Standard 102, and for making accurate representations to you as auditors. 2. We confimi that in our opinion the financial statements gjve a true and falr view and in particular that Whe￿ any additlonal Inforniatlon must be dbclosed in order to glve a true and falr view that information has In fart been disclosed. 3. We confimi that all accountSng records have been made available to you for the purposes of vour audlt, In accordante with your tem)s of engagement, and that all transactwjns undertaken by the school have been property reflected and recorded in the accounting records. All other records and related infomiation, including minutes of all management and Governors, meetinBS, have been made available to you. We have given you unrestricted acre55 to persons wlthln the school in orderto obtain evidence and have provlded any addltlonal Informatlon that you have requested for the purposes of your audlL 4. We acknowledge our re5pon51blllty forthe deslgn, implementatlon and malntenance of Intemal control systems to prevent and detect fraud and error. We have disclosed to you the results of our risk asse55ment that the financial statements may be mlsststed as a resultof fraud. We have disclosed to you all instances of known or suspected fraud affectlng the entity invofving management, employees who have a s￿nIfIcant role in internal control or others that could have a material effect on the financial statements. We have also disclosed to you all information in relation to allegations of fraud or suspected fraud affecting the entltVs flnanclal ststements communicated by current or fom)er employees. analysls, regulators or others. 5. The effects of uncorrected misstatements la5 set out in the audltflndln85 report) are Immaterlal both individually and In total. 6. The financial statements are free of materlal misstatements. including omissions. Audit Findings Report l Battle Abbey School io

Appendix i Letter of Representation 7. The school has satlsfactory title to all assets and ihere are no Ilens or encumbrance5 on the school's a55ets, except for those that a￿ dlsclosed In the notes to ihe financial Statements. 8. We have recorded or disth)5ed, a5 appropriate, all Ilabilities, both actual and continsent, and have dlsclosed in the notes tothe flnancial statements all guarantee5 thatwe havegNen to third partles. 9. We have no plans or intentions that rnay materlally alterthe carrylng value and where relevant the fair value measurements or classification of assets and liabilities reflected in the finartcial statements. 10. The methods, dats and signFficant assumption5 used by us in makln8 accounting estimates, and their related disclosu￿$, are appropriate to achieve recognitlon, measurement and disclosure that is reasonable In the context of the appllcable financlal reporting framework 11. We confirm that the school has had. at no time durin8 the year, any arrangement. transaction or agreement to provlde tredit facilities Ilncludlng loans, quasi-loans or credrt transartlonsl for Governors. nor to guarantee nor provlde securlty for such matters, except as already disclosed in the accounts. 12. We have disclosed toyou all dalms in connection wfth litl8Son that have been, orare expected to be. received and such matters. as appropriate, have been properly accounted for, and di5c105ed In, the Financial Statement5 and that these have been accounted for in accordance with the appllcable financial reporting framework. 13. We confirm that we are not aware of any possible or actual Instan￿ of noncompliance with those laws and regulations which provide a legal framework withln which the School conducts Its attivitles and which are central to the school's ability to condutt its actlvlties. except as explained to you and as dlsclosed In the financial statements. 14. We wnfirm that there have been no events since ihe balance sheet date whlch requlre dlsclosin8 or which would materially affect the amovnts In the financial statements, other than those already dlsclosed or included In ihe flnancial statements. 15. We confirm that the school has not contracted for any capltal expendlture other than as disclosed in the financial statements. 16. We believe that the school's flnancial statements should be prepared on a going concem basls on the grounds that current and future sources of fundlng or support will be more than adequate for the school's needs. We also conflrm our plans for fvture actlonls) required to enable the school to continue as a going concern are feaslble. We have considered a perlod of twefve months from the date of approval of the financial statements. We bellevethat nofurther disdosures relatln8 to the school's abilityto continue as a 8olng concem need to be made in the financial statements. Audlt Flndings Report l Battle Abbey School

Appendix i Letter of Representation 17. We confirm that all related party relationships and transactlons have been accounted for and disclosed in accordance with the appllcable accountlng framework. 18. We confirm that the related party relationships and transactions set out below are a complete list of such relatlonshlps and tran5actlons and that we are not aware of any further related parties ortran5act*)ns: Party Breeze Mrs F Daniels D Fidock Mrs E HartDrPWE Hookway Mrs SJ Hookway MrJ Klngwell R Adml J M L Mercer I S CBE Watts J Relotlon5hlp Governor Governor Governor Govemor Govemor Governor Governor Governor Governor Nature oltransortion None None None None None None None None None Battle Abbey School Enterprises Ltd 100% subsidiary of B A S1Schooll Llmlted Intercompany charges Clark D Shoesmith Mrs N Brown A Headmaster Head of Prep School Bursar and Director of Battle Abbey School Enterprises Ltd Iresignedl Bursar and Dlrector of Battle Abbey School Enterprlses Ltd Salary & Pension Salary & Pension Salary & Pension Acuna U Salary & Pension 19. We acknowledge ourlegal Tesponsibilities regarding dlsclosure of infomiation toyou as auditor5 and confimi that: Sofaras each Governor is aware, there is no relevant audit information thatyou as auditors are unaware of; and Each Governor has taken all the steps that they ought to have taken as trustee to make themselves aware of any relevant audit infonnation and to establish that you are aware of that Information. 20. We confirm that we have reviewed the UK Sanctions list and confirm that to our knowledge the school has not had any tran5acti0115 Wlth any entity connected to those Ilsted. We confirm we have complied wrth the requirements of the UK santtions re8ime throuBhout the financlal year and subsequently. Ihttps'.IIwww.8ov.uk/government/publicationslthe-uk-sanctions-listl. We confim) that the above representatlons are madeon the basls of enquiries of management and staff with relevant knowledge and expertise land, where appropriate of supporting dotumentationl Audit Flndlngs Report | Battle Abbey School 12

Appendix i Letter of Representation sufflclent to satisfy ourselves that we can property make these representatlons to you and that to the best of our knowledge and bellef they accurately reflect the representstions made to you by the Governots durln8 the course of the audlt. Yours faithful ..Trustee .Date Signed on behalf of the board of Governors Audit Findings Report l Battle Abbey School 13

Appendix i Letter of Representation TCGroup The Couityard Shoreham Road Upper Beeding Steynin8 West Sussex BN44 3TN To Whom R may concern. During the course of your audit of our financial statements for Battle Abbey School Enterprise5 Limited for the year ended 31 August 2022, the following representations were made to you by manaBement and Trustee5. l. We acknowledge as Governors our re5ponsibllities underthe Companie5 Act 2006 and Ch?rities Act 2011 for preparlng Flnancial Statements In accordance wtth the appllcable accountln8 frameworL SORP 2015 - Financial Rel￿1￿8 Standard 102, and for maklng accurate representations to you as audttors. 2. We conflmi that In our opinlon the financial statements glve a true and falr view and in partlcular that where any addltlonal Information must be dlsclosed In order to glve a true and fair view that infomiatlon has in fact been dixlosed. 3. We confirm that all accountlng records have been made avallable to you for the purposes of your audit. in accordance with yourterms of engagement, and that all transactions undertaken by the school have been properly reflected and recorded in the accountin8 record5. All other records and related Infomiatlon, Includlng mlnutes of all management and Governor meetings. have been made avallable to you. We have gSven you unrestricted access to persons within the school in orderto obtain evidente and have provided any addrtiohal information that you have requested for the purposes of your audlt. 4. We ackn¢)wledge our responsibiltyforthe design, implementation and maintenance of internal control 5YStems to prevent and detect fraud and error. We have disclosed to you the results of our riska55e55mentthatthe financial Statements may be mi55tated a5 a resuft of fraud. We have dlsdosed to you all instance5 Qf known or sU5perted fraud affecting ihe entlty involving management. employees who have a significant role in internal control or others that could have a materlal effett on thefinanclal ststements. We have also disclosed to you all information In relatlon to allegatlons of fraud or suspected fraud affectlng the ent11￿$ flnanclal statements communicated by current or former empbjyees. analysi5, regulators or others. 5. The effects of uncorrected misslatements {as set out in ihe auditfinding5 report) are immaterial both individualty and in totsl. 6. The financlal statements are free of materlal misstatements, Includlng omlsslons. Audit Flndings Report l Battle Abbey khool 14

Appendix i Letter of Representation 7. The school has satisfartory title to all assets and there are no Ilens or encumbrances on the hoovs a5sels, except forihose that are dlsclosed in the notes to the flnantlal statements. 8. We have recorded or dlsclosed, as appropriate, all liabi1Stles, both actual and contingent, and have disclosed in the notestothefinancial statements all guarantees thatwe haveglven tothlrd parties. 9. We have no plans or intentions that may materlalty a￿erthe carrylng value and where relevant the fair value measurements or dassiflcation of assets and Ilabilities reflected In the financial statements, 10. The methods. data and si8nlflcant assumptlons used by us in makin8 accountlng estimates, and theSr related disdosures, are appropriate to achieve recoBnition. measurement and disclosure that is reasonable in the context of the applicable financlal reporting framework. 11. We confirm that the'school has had, at no lime durin8 the year. any arrangement. transaction or agreement to provide credit facilities {Intluding loans. quasi-loans or credit transartlonsl for Governors. nor to guarantee nor provide security for such matters. except as already disclosed in the accounts. 12. We have disdosed toyou all clalms in connection woth litigation that have been. orare expected to be, recefved and such matters, a5 appropriate. have been properly accounted for. and disclosed in. the Financial Statements and that these hive been accounted for In accordance with the applicable ftnancial rewrting framework 13. We conflmi that we are not aware of any possible or attual Instances of non-compliance wlth those laws and regulatlons whith provide a legal framework wlthin which the s¢h¢x>l conducts Its activltles and which a￿ central to the school's abil￿ to conduct its activttles, except as explained to you and as disclosed In the financial statemÈnts. 14. We confim that there have been no events since the balan￿ sheet date whlch require disc105ing or whlch would materially affect the amounts In the financlal statements. other than those already disclosed or included in the financial statements. 15. We confirm that the school has not contracled for any capital eX￿ndItUre other than as dlsclosed In the financial ststements. 16. We believe that the school's Pinanclal statements should be prepared on a going concern basis on ihe grounds that current and future sources of fundln8 or sUPPOrt will be more than adequate for the school'5 needs. We also confjm) our pla￿ for future actlonlsl ￿qUI￿d to enable the school to continue as a goin8 concern are feasible. We have considered a period of twelve month5 from the date of approval of the financial statements. We bellevethat no further disclosures ￿latIngtO the School's abillty to continue as a golng con￿rn need to be made in the financial statements. Audlt Findings Report l Battle Abbey School 15

Appendix i Letter of Representation 17. We confirm that all related party relationships and transactions have been accounted for and dlsclosed in accordance with the applicable a¢counting framework. 18. We confirm that the related party relationships and transartlons set out below are a complete Ilst of such relatlonshlps and transactions and that we are not aware of any further related partles or transactions: Poty B A S Ikhooll Llmtted Brown A Dennett J R Kingwell R Adml J M L Martin Mrs A C Relatlonshlp Parent company IICMMI Director Iresignedl Dirertor Dirertor Direttor Noture oltmnsaction Intercompany charges None None None None 19. Weacknowledge our legal responsibilities regardingdisclosure of inforniation toyou as audltors and conflrm that., Sofar as each Governor is aware, there Is no relevant audit inforynatlon that you as audltors are unaware of; and Each Governor has taken all the steps that they ouEht to have taken a5 tn15tee to make themsefves aware of any relevant audlt Infomiatlon and to establish that you are aware of that information. 20. We confimi that we have revlewed the UK Sanctlons Ilst and conflm) that to our knowledge the school has not had any transactions with any entty connected to those listed. We confirm we have complied wr(h the requirements of the UK santtions reglme throughout the flnanclal year and subsequently. Ihttps'.//www.8ov.uklgovernment/publicationslthe-uk-sanctions-li5tl. We conflrni thatthe aknve representatlons are made on the bas￿ of enquirles of management and staff wlth relevant knowledge and expertise land, where appmpriate of supporting documentation) sufFicient to satisfy ourselves that we can properly make these ￿presentationS to you and that to the best of our knowledge and belief they accuratety reflect the representatlons made to you by the Governoys durln8 the course of the audit. Yours fa fullv ..Trusiee .Date Slgned on behalf of the board of Governors Audit Findings Report | 8attle Abbey School 16

Appendix li Financial Performance Report Year Ended 31 Aii811rt 2022 This financial perform?no report has been prepared to assist 8overnofS in understanding the school's flnantial perfomiance and building up a year on year comparison. It includes some Key Performante Indicators, ¢Mes whith we think are fundamental for sthoojs. It Is no a benchmarking report comparin8 the xhool to other5. Results are slenifrcantsy Outside normal expertatlons (although thère may be genulne reasons e4. COVID.191 Full ￿rne Equlvalent Pupil Numbtr$15thO￿l Results are outslde normal expe¢tation$, but see abovè I[,￿. Iml 447 5aUstsctory Gross Fees 8,695,572 8,068,481 7,231,436 7,189,954 Bursarie5. Srholarships and Discounts 112Q),7531 IL191,6331 11fv14,7721 ILifM.2151 Net Fees 7,494,819 6,876,848 5,816,664 6,180,459 Extras 352,591 307,424 244,282 285,999 tl th9(￿Trts 13.062 Total Costs 7,118,352 6,435,453 6,230,018 6.144,0 Total teaching staff tost5 3.658.436 3376,390 3,233,359 1982.159 T£achln8 Numbers 97 93 89 85 pIDyme¢Fi ppl T¢iKhlRtStall Total OthÈrCosts IWI Costs £xcludlng TÈad)In staff Costsl 3,459,916 3.050,063 2,996,659 3,161,856 7.5% Audit Findings Report l Battle Abbey School 17

Appendix li Financial Performance Report oia eathlnrt" ta 55.6% 13A27 Net Surpluslldolicitl for the year Nel 5urplu5 Before Oepreoation 1119.816 L005,m 390.680 70L645 1,425,347 L298,695 703,979 1.025,029 .1% et Fée le55 A¥YraA 365 Audlt Flndlngs Report | Battle Abbey School 18

Appendix li Financial Performance Report SCHOOL FEES KEY POINT5 Net fees have in¢￿ased by £632k19.2%1 due to increased pupil numbers and no Covld-19 discoiints offered. Bursaries, scholarshlps and discounts have Increased slightly by £9.Ik due to an increase in scholarship awards. Extras have increased by £45.167115%1 on 2022 and ￿ even above leveLs achieved pre Covid-19 years. Average net fee per pupil ha5 Tisen by £89816%) as a comblnation of the above. SCHOOL COSTS KEY POINTS Total costs have increased by £767,372 112%). Total teaching staff costs Increased by £282,046 (8%). due to increases in both salarles and staff numbers. Other costs have risen by £485,326116%1, whlch is due to an increase In weddlng5 held lès a re5uft of pandemlc restrlctions lrftlngl.. increased wages costs due to additional staff in the year, along with an increase in extras due to additional pupil numbers. Teaching staff tosts as a % of net fee5 has reduced to 48.7%. We would recommend that thls % continues to be kept below 60% to ensure the 'financlal' model of the school onllnues to be strong. The average cost per pupll has increased by £1,14219%). A slgnificant proportion of cost5 are fixed and therefore not hugely impacted by pupll number5. SCHOOL SURPLUS KEY POI￿r5 The school reports an overall net surplus forthe year of £1,119,816 whlch has Increased by £114.745111%1. Net surplus before depreciation remain5 posltive at £1.425,347, which r5 up £126.652 (10%1 on 2021. Net surplus before depreciatSon as a percentage of net fees has increased slightly to 19% from 18.9% which is Still strong and above our recommended IO% benchmark. The school recorded a surplus per pupil of £1,418 for the year to August 2022. This is down from £1,498 in 2021, but remains posfcive. Audtt Findings Report l Battle Abbey School 19