**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: 

- liquidity and cash flow risk which is monitored by a review of regular cash flow and year to date results. 

- credit risk which is controlled by requesting payment of school fees in advance of each new term. 

- interest rate risk which is managed by seeking to agree fixed rate lending on its loans and reviewing returns on cash deposits. 

## **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** 

- To inspire pupils to maximise their potential in all they undertake; to acknowledge and reward the achievements of each individual according to their aptitude and interests. 

- To promote balanced social development through sensitive pastoral care within our structured day and boarding community. 

- To prepare pupils for life after School by providing an all-round education in which pupils of all ages are valued as individuals and develop the self-respect, self-confidence and empathy for the needs and desires of others that will enable them to contribute positively to our changing world. 

- To continue to develop the facilities and resources of the school to ensure that they underpin the achievement of the School’s aims and objectives. 

## **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: 

- select suitable accounting policies and apply them consistently; 

- observe the methods and principles of the Charities' SORP; 

- make judgements and estimates that are reasonable and prudent; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will not continue in operation. 

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: 

- give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 31 August 2022 and of its incoming resources and application of resources for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the 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: 

- the information given in the governors’ report, which includes the directors’ report (and the strategic report) prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the directors’ report (and the strategic report) included within the governors’ report have been prepared in accordance with applicable legal requirements. 

## **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: 

- adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of governors’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of 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:** 

- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general sector experience, and through discussion with the trustees and other management (as required by auditing standards), and discussed with the trustees and other management the policies and procedures regarding compliance with laws and regulations (see below); 

- We identified the following areas as those most likely to have such an effect: health and safety; General Data Protection Regulation (GDPR); fraud; bribery and corruption and employment law.  Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any. The identified actual or suspected non-compliance was not sufficiently significant to our audit to result in our response being identified as a key audit matter. 

- We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102, the Companies Act 2006 and the Charities Act 2011) and the relevant tax compliance regulations in the UK; 

- We considered the nature of the school’s operations, the control environment and financial performance. 

- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit; 

- We considered the procedures and controls that the school has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls. 

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**<br>**Funds**<br>**£**<br>**INCOME FROM:**<br>Donations and grants<br>**6**<br>-<br>Other trading activities<br>**7**<br>265,851<br>Investments<br>**8**<br>5,678<br>Charitable activities<br>**9**<br>7,954,342<br>**Total Income**<br>**8,225,871**<br>**EXPENDITURE ON:**<br>**10**<br>Raising funds<br>**184,956**<br>Charitable activities<br>**6,922,894**<br>**Total expenditure**<br>**7,107,850**<br>**Net income/(expenditure)**<br>**1,118,021**<br>Transfers between funds<br>**24**<br>**-**<br>**Net movement in funds**<br>**1,118,021**<br>Funds balances brought forward<br>**7,805,439**<br>**Fund balances carried forward**<br>**24/25**<br>**8,923,460**|**Restricted**<br>**Funds**<br>**£**<br>12,297<br>-<br>-<br>-<br>**12,297**<br>**-**<br>**10,502**<br>**10,502**<br>**1,795**<br>**-**<br>**1,795**<br>**97,495**<br>**99,290**|**Total**<br>**2022**<br>**£**<br>**12,297**<br>**265,851**<br>**5,678**<br>**7,954,324**<br>**8,238,168**<br>**184,956**<br>**6,933,396**<br>**7,118,352**<br>**1,119,816**<br>**-**<br>**1,119,816**<br>**7,902,934**<br>**9,022,750**|**Total**<br>**2021**<br>**£**<br>91,324<br>85,730<br>13,121<br>7,250,348|
|---|---|---|---|
||||7,440,523|
||||89,554<br>6,345,899|
||||6,435,453|
||||1,005,070<br>-|
||||1,005,070<br>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**<br>**Cash flows from operating activities:**<br>**Net income/expenditure for the year**<br>**Adjustments for:**<br>Depreciation charges<br>**14**<br>Dividends, interest and rents from<br>investments<br>**8**<br>Financing costs<br>(Increase)/decrease in stock<br>(Increase)/decrease in debtors<br>**17**<br>Increase/(decrease) in creditors<br>**18,19**<br>**Net cash provided by/(used in) operating**<br>**activities**<br>**Cash flows from investing activities:**<br>Dividends, interest and rents from<br>investments<br>**8**<br>Financing costs<br>Purchase of tangible fixed assets<br>**14**<br>**Net cash used in investing activities**<br>**Cash flows from financing activities:**<br>Repayment of bank loans<br>**17/18**<br>Repayment of other loans<br>**17/18**<br>**Net cash provided/(used in) financing**<br>**activities**<br>**Change in cash and cash equivalents in the**<br>**year**<br>**Cash and cash equivalents at the beginning**<br>**of the year**<br>**Cash and cash equivalents at the end of the**<br>**year**<br>**Analysis of cash and cash equivalents**<br>Cash in hand<br>Cash at bank<br>**Total cash and cash equivalents**|**2022**<br>**£**<br>**£**<br>1,119,816<br>**305,531**<br>**(5,678)**<br>**27,230**<br>**(1,110)**<br>**(139,777)**<br>**(223,823)**<br>**1,082,189**<br>**5,678**<br>**(27,230)**<br>**(251,877)**<br>**(273,429)**<br>**(131,137)**<br>**(39,992)**<br>**(171,129)**<br>**637,631**<br>**3,243,568**<br>**3,881,199**<br>**1,086**<br>**3,880,113**<br>**3,881,199**<br>**3,881,199**|2021<br>£<br>£<br>1,005,070<br>293,625<br>(13,121)<br>36,717<br>(861)<br>(14,754)<br>(21,025)<br>1,285,651<br>13,121<br>(36,717)<br>(561,634)<br>(585,230)<br>(361,285)<br>(39,996)<br>(401,281)<br>299,140<br>2,944,428<br>3,243,568<br>5,118<br>3,238,450<br>3,243,568<br>3,243,568|2021<br>£<br>£<br>1,005,070<br>293,625<br>(13,121)<br>36,717<br>(861)<br>(14,754)<br>(21,025)<br>1,285,651<br>13,121<br>(36,717)<br>(561,634)<br>(585,230)<br>(361,285)<br>(39,996)<br>(401,281)<br>299,140<br>2,944,428<br>3,243,568<br>5,118<br>3,238,450<br>3,243,568<br>3,243,568|
|---|---|---|---|
||**5,678**<br>**(27,230)**<br>**(251,877)**|13,121<br>(36,717)<br>(561,634)||
||**(131,137)**<br>**(39,992)**|(361,285)<br>(39,996)||
||**1,086**<br>**3,880,113**|5,118<br>3,238,450||
||||299,140<br>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)** 

- **a. Critical judgements in applying the entity’s accounting policies** 

## **(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. 

- **(ii) Useful economic lives of tangible assets** 

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**<br>**£**<br>Donations<br>**-**<br>Coronavirus Job Retention Scheme<br>grants<br>**-**<br>**-**<br>**7**<br>**INCOME FROM OTHER TRADING ACTIVITIES**<br>**Unrestricted**<br>**£**<br>Lettings and rental income<br>**15,371**<br>Subsidiary trading income<br>**250,480**<br>**265,851**<br>**8**<br>**INCOME FROM INVESTMENTS**<br>**Unrestricted**<br>**£**<br>Interest receivable<br>**5,678**<br>**9**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>Gross school fees<br>Less:<br>bursaries, scholarships and allowances<br>Covid-19 discounts<br>Net school fees<br>Add:<br>Scholarships, bursaries and awards from restricted funds<br>Registration fees<br>Extras income<br>School bus/transport income<br>Swimming pool hire|**Restricted**<br>**£**<br>**12,297**<br>-<br>12,297<br>**Restricted**<br>**£**<br>**-**<br>-<br>-<br>**Restricted**<br>**£**<br>**-**|**Restricted**<br>**£**<br>**12,297**<br>-<br>12,297<br>**Restricted**<br>**£**<br>**-**<br>-<br>-<br>**Restricted**<br>**£**<br>**-**|<br>**Total**<br>**2022**<br> <br>**£**<br> <br>**12,297**<br>**-**<br>**12,297**<br> <br>**Total**<br>**2022**<br> <br>**£**<br> <br>**15,371**<br> <br>**250,480**<br>**265,851**<br> <br>**Total**<br>**2022**<br> <br>**£**<br> <br>**5,678**<br>**Total**<br>**2022**<br>**£**<br>**8,695,572**<br>**(1,200,753)**<br>**-**<br>**7,494,819**<br>**10,502**<br>**19,656**<br>**192,732**<br>**140,203**<br>**96,430**<br>**7,954,342**|<br>**Total**<br>**2022**<br> <br>**£**<br> <br>**12,297**<br>**-**<br>**12,297**<br> <br>**Total**<br>**2022**<br> <br>**£**<br> <br>**15,371**<br> <br>**250,480**<br>**265,851**<br> <br>**Total**<br>**2022**<br> <br>**£**<br> <br>**5,678**<br>**Total**<br>**2022**<br>**£**<br>**8,695,572**<br>**(1,200,753)**<br>**-**<br>**7,494,819**<br>**10,502**<br>**19,656**<br>**192,732**<br>**140,203**<br>**96,430**<br>**7,954,342**|<br>Total<br> <br>2021<br> <br>£<br> <br>41,842<br>49,482|
|---|---|---|---|---|---|
||||||91,324|
||||||<br>Total<br> <br>2021<br> <br>£<br> <br>22,811<br>62,919|
||||||85,730|
||||||<br>Total<br> <br>2021<br> <br>£<br> <br>13,121|
||||**Total**<br>**2022**<br>**£**<br>**8,695,572**<br>**(1,200,753)**<br>**-**<br>**7,494,819**<br>**10,502**<br>**19,656**<br>**192,732**<br>**140,203**<br>**96,430**<br>**7,954,342**||Total<br>2021<br>£<br>8,068,481<br>(1,147,192)<br>(44,441)<br>6,876,848<br>15,151<br>18,233<br>160,770<br>128,421<br>50,925<br>7,250,348|
|||||<br> <br> <br> <br> <br>||
|||||||



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**<br> <br>**Costs**<br>**£**<br>**Cost of raising funds:**<br>Other trading activities<br>**298**<br>Financing costs<br>**-**<br>**Total cost of raising funds**<br>**298**<br>**Charitable expenditure**<br>**Education**<br>Teaching<br>**3,658,436**<br>Welfare<br>**232,940**<br>Premises<br>**167,676**<br>Support and governance<br>**619,207**<br>Bursaries from restricted<br>funds<br>**-**<br>**Total charitable**<br>**expenditure**<br>**4,678,259**<br>**Total expenditure**<br>**4,678,557**<br>**Analysis of support and governance costs:**<br>Governance costs:<br>Auditors remuneration for<br>audit services<br> <br>Support costs:<br>Auditors’ remuneration for<br>non-audit services<br> <br>Legal and professional fees<br>relating to support<br> <br>Support staff wages,<br>national insurance and<br>pension<br>Advertising and promotion<br>Commission to agencies<br>Subscriptions and licences<br>Telephone<br>Other support costs|**Depreciation**<br>**£**<br> <br>**951**<br> <br>**-**<br> <br>**951**<br> <br>**117,773**<br> <br>**-**<br> <br>**186,808**<br> <br>**-**<br>**-**<br>**304,581**<br> <br>**305,532**<br> <br> <br>|<br>**Other**<br>**Costs**<br>**£**<br> <br>**156,477**<br> <br>**27,230**<br> <br>**183,707**<br> <br>**392,206**<br> <br>**254,379**<br> <br>**769,131**<br> <br>**524,338**<br>**10,502**<br>**1,950,556**<br> <br>**2,134,263**<br> <br> <br>|**Total**<br>**2022**<br>**£**<br> <br>**157,726**<br> <br>**27,230**<br> <br>**184,956**<br> <br>**4,168,415**<br> <br>**487,319**<br> <br>**1,123,615**<br> <br>**1,143,545**<br>**10,502**<br>**6,933,396**<br> <br> <br>**7,118,352**<br> <br> <br>**2022**<br>**£**<br> <br>**19,390**<br> <br> <br>**3,350**<br>**64,067**<br>**619,207**<br>**80,546**<br>**99,058**<br>**65,280**<br>**41,142**<br>**151,505**<br>**1,143,545**|Total<br>2021<br>£<br>52,837<br> <br>36,717|
|---|---|---|---|---|
|||||<br>89,554|
|||||<br>3,847,278<br> <br>524,911<br> <br>1,077,199<br> <br>881,360<br>15,151|
|||||6,345,899|
||||||
|||||6,435,453|
|||||2021<br>£<br>14,350<br>567<br>16,109<br>497,227<br>48,251<br>57,418<br>56,474<br>56,252<br>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<br>Wedding lettings (subsidiary trading results)<br>School bus|**Income**<br>**£**<br>96,430<br>256,497<br>140,203<br>**493,130**|<br>**Costs**<br>**£**<br> <br>(126,282)<br> <br>(172,025)<br> <br>(157,262)<br>(455,569)|**Profit/(Loss)**<br>**2022**<br>**£**<br>**(29,852)**<br>**84,472**<br>**(17,059) **<br>**37,561**|Profit/(Loss)<br>2021<br>£<br> <br>(65,680)<br> <br>13,516<br>(81,730)|
|---|---|---|---|---|
|||||(133,894)|



## **12 STAFF COSTS** 

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

|Teaching<br>Welfare<br>Domestic<br>Administration|**2022**<br>**Number**<br>**58**<br>**39**<br>**34**<br>**15**<br>**146**|2021<br>Number<br>55<br>38<br>33<br>15|
|---|---|---|
|||141|



The aggregate payroll costs for the year were as follows: 

|Wages and salaries<br>Social security costs<br>Other pension costs|**2022**<br>**£**<br>**3,822,178**<br>**338,215**<br>**518,164**<br>**4,678,557**|2021<br>£<br>3,589,741<br>304,825<br>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<br>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:**<br>**Notes**<br>Donations and grants<br>**6**<br>Other trading activities<br>**7**<br>Investments<br>**8**<br>Charitable activities<br>**9**<br>**Total income**<br>**EXPENDITURE ON:**<br>**10**<br>Raising funds<br>Charitable activities<br>**Total expenditure**<br>**Net income/(expenditure)**<br>Transfers between funds<br>**24**<br>**Net movement in funds**<br>Fund balances brought forward<br>**Fund balances at carried forward**<br>**24/25**|**Unrestricted**<br>**funds**<br>**£**<br>49,482<br>85,730<br>13,121<br>7,250,348<br>7,398,681<br>89,554<br>6,330,748<br>6,420,302<br>978,379<br>-<br>978,379<br>6,827,060<br>7,805,439|**Restricted**<br>**funds**<br>**£**<br>41,842<br>-<br>-<br>-<br>41,842<br>-<br>15,151<br>15,151<br>26,691<br>-<br>26,691<br>70,804<br>97,495|**Total**<br>**funds**<br>**£**<br>91,324<br>85,730<br>13,131<br>7,250,348|
|---|---|---|---|
||||7,440,523|
||||89,554<br>6,345,899|
||||6,435,453|
||||1,005,070<br>-|
||||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**<br>At 1 September 2021<br>Additions<br>At 31 August 2022<br>**Depreciation**<br>At 1 September 2021<br>Charge for year<br>At 31 August 2022<br>**Net Book Value**<br>**At 31 August 2022**<br>31 August 2021|**Freehold**<br>**Land and**<br>**Buildings**<br> <br>**£**<br>7,032,800<br>22,553<br>7,055,353<br>702,058<br>132,623<br>834,681<br>**6,220,672**<br>6,330,742|**Leasehold**<br>**Property**<br>**Short Lease**<br>**£**<br> <br>2,162,444<br> <br>134,082<br> <br>2,296,526<br> <br>847,216<br> <br>58,736<br> <br>905,952<br> <br>**1,390,574**<br> <br>1,315,228|**Fixtures,**<br>**Fittings &**<br> <br>**Equipment**<br>**£**<br> <br>1,349,342<br> <br>95,242<br> <br>1,444,584<br> <br>1,050,111<br> <br>107,981<br> <br>1,158,092<br> <br>**286,492**<br> <br>299,231|**Motor**<br>**Vehicles**<br>**£**<br> <br>58,723<br> <br>-<br> <br>58,723<br> <br>52,532<br> <br>6,191<br> <br>58,723<br> <br>**-**<br> <br>6,191|**Total**<br>**£**<br> <br>**10,603,309**<br> <br>**251,877**|
|---|---|---|---|---|---|
||||||<br>**10,855,186**|
||||||<br>**2,651,917**<br> <br>**305,531**|
||||||<br>**2,957,448**|
||||||**7,897,738**|
||||||<br>**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<br>Aggregate depreciation<br>Net book value<br>Value of land and buildings|**2022** <br>**£** <br>**1,474,652** <br>**(516,273)** <br>**958,379** <br>**1,065,000**|<br>2021<br> <br>£<br> <br>1,474,652<br>(471,984)<br> <br>1,002,668<br> <br>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<br>Turnover<br>Administrative expenses<br>Donation to parent entity<br>Net profit/(loss)<br>Summary balance sheet<br>Fixed assets<br>Current assets<br>Creditors falling due within one year<br>Net assets<br>Aggregate share capital and reserves<br>**Contribution by parent company**<br>The parent charity contributions to the results for the year is as follows:<br>Income<br>Expenditure<br>Net income/(expenditure) for the year|**Battle Abbey School**<br>**Enterprises Limited**<br>**2022** <br>2021<br>**£** <br>£<br>**256,497** <br>64,458<br>**(172,025)** <br>(50,942)<br>**-** <br>-<br>**84,472** <br>13,516<br>**1,755** <br>2,706<br>**255,175** <br>106,765<br>**(172,457)** <br>(95,954)<br>**84,473** <br>13,517<br>**84,473** <br>13,517<br>**7,981,671** <br>7,376,065<br>**(6,946,327)** <br>(6,384,511)<br>**1,035,344** <br>991,554|**Battle Abbey School**<br>**Enterprises Limited**<br>**2022** <br>2021<br>**£** <br>£<br>**256,497** <br>64,458<br>**(172,025)** <br>(50,942)<br>**-** <br>-<br>**84,472** <br>13,516<br>**1,755** <br>2,706<br>**255,175** <br>106,765<br>**(172,457)** <br>(95,954)<br>**84,473** <br>13,517<br>**84,473** <br>13,517<br>**7,981,671** <br>7,376,065<br>**(6,946,327)** <br>(6,384,511)<br>**1,035,344** <br>991,554|
|---|---|---|
|||<br>13,516|
|||<br>2,706<br> <br>106,765<br> <br>(95,954)|
|||<br>13,517|
|||<br>13,517|
|||<br>7,376,065<br> <br>(6,384,511)|
|||<br>991,554|



## **16 DEBTORS** 

|Fee debtors<br>Amounts due from subsidiaries<br>Prepayments and accrued income<br>Other debtors|**Group**<br>**2022**<br>**2021**<br>**£**<br>**£**<br>**226,253**<br>111,894<br>**-**<br>-<br>**101,573**<br>149.881<br>**75,222**<br>1,500<br>**403,048**<br>263,275|**School**<br>**2022**<br>**2021**<br>**£**<br>**£**<br>**226,253**<br>111,894<br>**62,487**<br>8,872<br>**100,450**<br>146,929<br>**75,222**<br>-|
|---|---|---|
|||**464,412**<br>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)<br>Other loans<br>Trade creditors<br>Accruals and other creditors<br>Fees in advance<br>Advance fees payment scheme (note 20)<br>Deposits<br>Other taxes and social security|**Group**<br>**2022**<br>**2021**<br>**£**<br>**£**<br>**132,650**<br>130,158<br>**40,000**<br>40,000<br>**36,960**<br>140,789<br>**247,112**<br>274,072<br>**1,050,618**<br>930,743<br>**216,113**<br>352,040<br>**409,156**<br>391,894<br>**126,633**<br>90,341<br>**2,259,242**<br>2,350,037|**School**<br>**2022**<br>**2021**<br>**£**<br>**£**<br>**132,650**<br>130,158<br>**40,000**<br>40,000<br>**17,166**<br>130,953<br>**203,494**<br>208,413<br>**1,050,618**<br>930,743<br>**216,113**<br>352,040<br>**409,156**<br>391,894<br>**80,240**<br>78,754|
|---|---|---|
|||**2,149,437**<br>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)<br>Advance Fees Payment Scheme (note 20)<br>Other loans|**Group**<br>**2022**<br>2021<br>**£**<br>£<br>**503,455**<br>637,084<br>**159,453**<br>289,989<br>**240,092**<br>280,088<br>**903,000**<br>1,207,161|**School**<br>**2022**<br>2021<br>**£**<br>£<br>**503,455**<br>637,084<br>**159,453**<br>289,989<br>**240,092**<br>280,088|
|---|---|---|
|||**903,000**<br>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:<br>Less than one year<br>In more than one year but less than two years<br>In more than two years but less than five years<br>In more than five years|**2022**<br>**£**<br> <br>**132,650**<br>**136,242**<br>**367,213**<br>**-**<br>**636,105**|2021<br>£<br>130,158<br>132,651<br>391,345<br>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<br>Amounts due after more than one year but less than two years<br>Amounts due after more than two years but less than five years|**2022**<br>**£**<br>**216,113**<br>**159,453**<br>**-**<br>**375,566**|2021<br>£<br>352,040<br>189,338<br>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<br>Amounts received in year<br>Amounted credited to pupil accounts for fees<br>**Balance as at 31 August 2022**|**2022**<br>**£**<br>**642,029**<br>**111,410**<br>**(377,873) **<br>**375,566**|2021<br>£<br>612,884<br>117,852<br>(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<br>Between one year and five years|**Land & Buildings**<br>**2022**<br>2021<br>**£**<br>£<br>**118,105**<br>118,105<br>**111,105**<br>222,210<br>**229,210**<br>340,315|**Other**<br>**2022**<br>2021<br>**£**<br>£<br>**13,407**<br>20,510<br>**1,921**<br>15,327|
|---|---|---|
|||**15,328**<br>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**<br>General reserves<br>**Restricted funds**<br>Bursary and Appeal<br>Fund<br>Nursery School Fund<br>**Total funds**|**Balance at 1**<br>**September**<br>**2021**<br>**Income**<br>**Expenditure**<br>**Transfer**<br>**Gains/**<br>**(losses)**<br>**Balance at**<br>**31 August**<br>**2022**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>7,805,439<br>8,225,871<br>(7,107,850)<br>-<br>-<br>**8,923,460**|
|---|---|
||94,109<br>12,297<br>(10,502)<br>-<br>-<br>**95,904**<br>3,386<br>-<br>-<br>-<br>-<br>**3,386**|
||97,495<br>12,297<br>(10,502)<br>-<br>-<br>**99,290**|
||**7,902,934**<br>**8,238,168**<br>**(7,118,352)**<br>**-**<br>**-**<br>**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** 

|<br>**Fund balances at 31 August 2022 are represented by**<br>Fixed assets<br>Current assets<br>Creditors: less than one year<br>Creditors: more than one year|**Unrestricted**<br>**Funds**<br>**£**<br>**7,897,738**<br>**4,187,964**<br>**(2,259,242)**<br>(903,000)<br>8,923,460|<br>**Restricted**<br>**Funds**<br>**£**<br> <br>**-**<br> <br>**99,290**<br> <br>**-**<br>-<br> <br>99,290|**Total**<br>**2022**<br>**£**<br> <br>**7,897,738**<br> <br>**4,287,254**<br> <br>**(2,259,242)**<br> <br>**(903,000)**|
|---|---|---|---|
||||<br>**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)** 

|<br>**Fund balances at 31 August 2021 are represented by**<br>Fixed assets<br>Current assets<br>Creditors: less than one year<br>Creditors: more than one year|**Unrestricted**<br>**Funds**<br>**£**<br>7,951,392<br>3,411,245<br>(2,350,037)<br>(1,207,161)<br>7,805,439|<br>**Restricted**<br>**Funds**<br>**£**<br>-<br>97,495<br>-<br>-<br> <br>97,495|**Total**<br>**2021**<br>**£**<br>**7,951,392**<br>**3,508,740**<br>**(2,350,037)**<br> <br>**(1,207,161)**|
|---|---|---|---|
||||<br>**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: 

- liquidity and cash flow risk which is monitored by a review of regular cash flow and year to date results. 

- credit risk which is controlled by requesting payment of school fees in advance of each new term. 

- interest rate risk which is managed by seeking to agree fixed rate lending on its loans and reviewing returns on cash deposits. 

## **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** 

- To inspire pupils to maximise their potential in all they undertake; to acknowledge and reward the achievements of each individual according to their aptitude and interests. 

- To promote balanced social development through sensitive pastoral care within our structured day and boarding community. 

- To prepare pupils for life after School by providing an all-round education in which pupils of all ages are valued as individuals and develop the self-respect, self-confidence and empathy for the needs and desires of others that will enable them to contribute positively to our changing world. 

- To continue to develop the facilities and resources of the school to ensure that they underpin the achievement of the School’s aims and objectives. 

## **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: 

- select suitable accounting policies and apply them consistently; 

- observe the methods and principles of the Charities' SORP; 

- make judgements and estimates that are reasonable and prudent; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will not continue in operation. 

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: 

- give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 31 August 2022 and of its incoming resources and application of resources for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the 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: 

- the information given in the governors’ report, which includes the directors’ report (and the strategic report) prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the directors’ report (and the strategic report) included within the governors’ report have been prepared in accordance with applicable legal requirements. 

## **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: 

- adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of governors’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of 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:** 

- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general sector experience, and through discussion with the trustees and other management (as required by auditing standards), and discussed with the trustees and other management the policies and procedures regarding compliance with laws and regulations (see below); 

- We identified the following areas as those most likely to have such an effect: health and safety; General Data Protection Regulation (GDPR); fraud; bribery and corruption and employment law.  Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any. The identified actual or suspected non-compliance was not sufficiently significant to our audit to result in our response being identified as a key audit matter. 

- We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102, the Companies Act 2006 and the Charities Act 2011) and the relevant tax compliance regulations in the UK; 

- We considered the nature of the school’s operations, the control environment and financial performance. 

- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit; 

- We considered the procedures and controls that the school has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls. 

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**<br>**Funds**<br>**£**<br>**INCOME FROM:**<br>Donations and grants<br>**6**<br>-<br>Other trading activities<br>**7**<br>265,851<br>Investments<br>**8**<br>5,678<br>Charitable activities<br>**9**<br>7,954,342<br>**Total Income**<br>**8,225,871**<br>**EXPENDITURE ON:**<br>**10**<br>Raising funds<br>**184,956**<br>Charitable activities<br>**6,922,894**<br>**Total expenditure**<br>**7,107,850**<br>**Net income/(expenditure)**<br>**1,118,021**<br>Transfers between funds<br>**24**<br>**-**<br>**Net movement in funds**<br>**1,118,021**<br>Funds balances brought forward<br>**7,805,439**<br>**Fund balances carried forward**<br>**24/25**<br>**8,923,460**|**Restricted**<br>**Funds**<br>**£**<br>12,297<br>-<br>-<br>-<br>**12,297**<br>**-**<br>**10,502**<br>**10,502**<br>**1,795**<br>**-**<br>**1,795**<br>**97,495**<br>**99,290**|**Total**<br>**2022**<br>**£**<br>**12,297**<br>**265,851**<br>**5,678**<br>**7,954,324**<br>**8,238,168**<br>**184,956**<br>**6,933,396**<br>**7,118,352**<br>**1,119,816**<br>**-**<br>**1,119,816**<br>**7,902,934**<br>**9,022,750**|**Total**<br>**2021**<br>**£**<br>91,324<br>85,730<br>13,121<br>7,250,348|
|---|---|---|---|
||||7,440,523|
||||89,554<br>6,345,899|
||||6,435,453|
||||1,005,070<br>-|
||||1,005,070<br>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**<br>**Cash flows from operating activities:**<br>**Net income/expenditure for the year**<br>**Adjustments for:**<br>Depreciation charges<br>**14**<br>Dividends, interest and rents from<br>investments<br>**8**<br>Financing costs<br>(Increase)/decrease in stock<br>(Increase)/decrease in debtors<br>**17**<br>Increase/(decrease) in creditors<br>**18,19**<br>**Net cash provided by/(used in) operating**<br>**activities**<br>**Cash flows from investing activities:**<br>Dividends, interest and rents from<br>investments<br>**8**<br>Financing costs<br>Purchase of tangible fixed assets<br>**14**<br>**Net cash used in investing activities**<br>**Cash flows from financing activities:**<br>Repayment of bank loans<br>**17/18**<br>Repayment of other loans<br>**17/18**<br>**Net cash provided/(used in) financing**<br>**activities**<br>**Change in cash and cash equivalents in the**<br>**year**<br>**Cash and cash equivalents at the beginning**<br>**of the year**<br>**Cash and cash equivalents at the end of the**<br>**year**<br>**Analysis of cash and cash equivalents**<br>Cash in hand<br>Cash at bank<br>**Total cash and cash equivalents**|**2022**<br>**£**<br>**£**<br>1,119,816<br>**305,531**<br>**(5,678)**<br>**27,230**<br>**(1,110)**<br>**(139,777)**<br>**(223,823)**<br>**1,082,189**<br>**5,678**<br>**(27,230)**<br>**(251,877)**<br>**(273,429)**<br>**(131,137)**<br>**(39,992)**<br>**(171,129)**<br>**637,631**<br>**3,243,568**<br>**3,881,199**<br>**1,086**<br>**3,880,113**<br>**3,881,199**<br>**3,881,199**|2021<br>£<br>£<br>1,005,070<br>293,625<br>(13,121)<br>36,717<br>(861)<br>(14,754)<br>(21,025)<br>1,285,651<br>13,121<br>(36,717)<br>(561,634)<br>(585,230)<br>(361,285)<br>(39,996)<br>(401,281)<br>299,140<br>2,944,428<br>3,243,568<br>5,118<br>3,238,450<br>3,243,568<br>3,243,568|2021<br>£<br>£<br>1,005,070<br>293,625<br>(13,121)<br>36,717<br>(861)<br>(14,754)<br>(21,025)<br>1,285,651<br>13,121<br>(36,717)<br>(561,634)<br>(585,230)<br>(361,285)<br>(39,996)<br>(401,281)<br>299,140<br>2,944,428<br>3,243,568<br>5,118<br>3,238,450<br>3,243,568<br>3,243,568|
|---|---|---|---|
||**5,678**<br>**(27,230)**<br>**(251,877)**|13,121<br>(36,717)<br>(561,634)||
||**(131,137)**<br>**(39,992)**|(361,285)<br>(39,996)||
||**1,086**<br>**3,880,113**|5,118<br>3,238,450||
||||299,140<br>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)** 

- **a. Critical judgements in applying the entity’s accounting policies** 

## **(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. 

- **(ii) Useful economic lives of tangible assets** 

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**<br>**£**<br>Donations<br>**-**<br>Coronavirus Job Retention Scheme<br>grants<br>**-**<br>**-**<br>**7**<br>**INCOME FROM OTHER TRADING ACTIVITIES**<br>**Unrestricted**<br>**£**<br>Lettings and rental income<br>**15,371**<br>Subsidiary trading income<br>**250,480**<br>**265,851**<br>**8**<br>**INCOME FROM INVESTMENTS**<br>**Unrestricted**<br>**£**<br>Interest receivable<br>**5,678**<br>**9**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>Gross school fees<br>Less:<br>bursaries, scholarships and allowances<br>Covid-19 discounts<br>Net school fees<br>Add:<br>Scholarships, bursaries and awards from restricted funds<br>Registration fees<br>Extras income<br>School bus/transport income<br>Swimming pool hire|**Restricted**<br>**£**<br>**12,297**<br>-<br>12,297<br>**Restricted**<br>**£**<br>**-**<br>-<br>-<br>**Restricted**<br>**£**<br>**-**|**Restricted**<br>**£**<br>**12,297**<br>-<br>12,297<br>**Restricted**<br>**£**<br>**-**<br>-<br>-<br>**Restricted**<br>**£**<br>**-**|<br>**Total**<br>**2022**<br> <br>**£**<br> <br>**12,297**<br>**-**<br>**12,297**<br> <br>**Total**<br>**2022**<br> <br>**£**<br> <br>**15,371**<br> <br>**250,480**<br>**265,851**<br> <br>**Total**<br>**2022**<br> <br>**£**<br> <br>**5,678**<br>**Total**<br>**2022**<br>**£**<br>**8,695,572**<br>**(1,200,753)**<br>**-**<br>**7,494,819**<br>**10,502**<br>**19,656**<br>**192,732**<br>**140,203**<br>**96,430**<br>**7,954,342**|<br>**Total**<br>**2022**<br> <br>**£**<br> <br>**12,297**<br>**-**<br>**12,297**<br> <br>**Total**<br>**2022**<br> <br>**£**<br> <br>**15,371**<br> <br>**250,480**<br>**265,851**<br> <br>**Total**<br>**2022**<br> <br>**£**<br> <br>**5,678**<br>**Total**<br>**2022**<br>**£**<br>**8,695,572**<br>**(1,200,753)**<br>**-**<br>**7,494,819**<br>**10,502**<br>**19,656**<br>**192,732**<br>**140,203**<br>**96,430**<br>**7,954,342**|<br>Total<br> <br>2021<br> <br>£<br> <br>41,842<br>49,482|
|---|---|---|---|---|---|
||||||91,324|
||||||<br>Total<br> <br>2021<br> <br>£<br> <br>22,811<br>62,919|
||||||85,730|
||||||<br>Total<br> <br>2021<br> <br>£<br> <br>13,121|
||||**Total**<br>**2022**<br>**£**<br>**8,695,572**<br>**(1,200,753)**<br>**-**<br>**7,494,819**<br>**10,502**<br>**19,656**<br>**192,732**<br>**140,203**<br>**96,430**<br>**7,954,342**||Total<br>2021<br>£<br>8,068,481<br>(1,147,192)<br>(44,441)<br>6,876,848<br>15,151<br>18,233<br>160,770<br>128,421<br>50,925<br>7,250,348|
|||||<br> <br> <br> <br> <br>||
|||||||



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**<br> <br>**Costs**<br>**£**<br>**Cost of raising funds:**<br>Other trading activities<br>**298**<br>Financing costs<br>**-**<br>**Total cost of raising funds**<br>**298**<br>**Charitable expenditure**<br>**Education**<br>Teaching<br>**3,658,436**<br>Welfare<br>**232,940**<br>Premises<br>**167,676**<br>Support and governance<br>**619,207**<br>Bursaries from restricted<br>funds<br>**-**<br>**Total charitable**<br>**expenditure**<br>**4,678,259**<br>**Total expenditure**<br>**4,678,557**<br>**Analysis of support and governance costs:**<br>Governance costs:<br>Auditors remuneration for<br>audit services<br> <br>Support costs:<br>Auditors’ remuneration for<br>non-audit services<br> <br>Legal and professional fees<br>relating to support<br> <br>Support staff wages,<br>national insurance and<br>pension<br>Advertising and promotion<br>Commission to agencies<br>Subscriptions and licences<br>Telephone<br>Other support costs|**Depreciation**<br>**£**<br> <br>**951**<br> <br>**-**<br> <br>**951**<br> <br>**117,773**<br> <br>**-**<br> <br>**186,808**<br> <br>**-**<br>**-**<br>**304,581**<br> <br>**305,532**<br> <br> <br>|<br>**Other**<br>**Costs**<br>**£**<br> <br>**156,477**<br> <br>**27,230**<br> <br>**183,707**<br> <br>**392,206**<br> <br>**254,379**<br> <br>**769,131**<br> <br>**524,338**<br>**10,502**<br>**1,950,556**<br> <br>**2,134,263**<br> <br> <br>|**Total**<br>**2022**<br>**£**<br> <br>**157,726**<br> <br>**27,230**<br> <br>**184,956**<br> <br>**4,168,415**<br> <br>**487,319**<br> <br>**1,123,615**<br> <br>**1,143,545**<br>**10,502**<br>**6,933,396**<br> <br> <br>**7,118,352**<br> <br> <br>**2022**<br>**£**<br> <br>**19,390**<br> <br> <br>**3,350**<br>**64,067**<br>**619,207**<br>**80,546**<br>**99,058**<br>**65,280**<br>**41,142**<br>**151,505**<br>**1,143,545**|Total<br>2021<br>£<br>52,837<br> <br>36,717|
|---|---|---|---|---|
|||||<br>89,554|
|||||<br>3,847,278<br> <br>524,911<br> <br>1,077,199<br> <br>881,360<br>15,151|
|||||6,345,899|
||||||
|||||6,435,453|
|||||2021<br>£<br>14,350<br>567<br>16,109<br>497,227<br>48,251<br>57,418<br>56,474<br>56,252<br>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<br>Wedding lettings (subsidiary trading results)<br>School bus|**Income**<br>**£**<br>96,430<br>256,497<br>140,203<br>**493,130**|<br>**Costs**<br>**£**<br> <br>(126,282)<br> <br>(172,025)<br> <br>(157,262)<br>(455,569)|**Profit/(Loss)**<br>**2022**<br>**£**<br>**(29,852)**<br>**84,472**<br>**(17,059) **<br>**37,561**|Profit/(Loss)<br>2021<br>£<br> <br>(65,680)<br> <br>13,516<br>(81,730)|
|---|---|---|---|---|
|||||(133,894)|



## **12 STAFF COSTS** 

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

|Teaching<br>Welfare<br>Domestic<br>Administration|**2022**<br>**Number**<br>**58**<br>**39**<br>**34**<br>**15**<br>**146**|2021<br>Number<br>55<br>38<br>33<br>15|
|---|---|---|
|||141|



The aggregate payroll costs for the year were as follows: 

|Wages and salaries<br>Social security costs<br>Other pension costs|**2022**<br>**£**<br>**3,822,178**<br>**338,215**<br>**518,164**<br>**4,678,557**|2021<br>£<br>3,589,741<br>304,825<br>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<br>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:**<br>**Notes**<br>Donations and grants<br>**6**<br>Other trading activities<br>**7**<br>Investments<br>**8**<br>Charitable activities<br>**9**<br>**Total income**<br>**EXPENDITURE ON:**<br>**10**<br>Raising funds<br>Charitable activities<br>**Total expenditure**<br>**Net income/(expenditure)**<br>Transfers between funds<br>**24**<br>**Net movement in funds**<br>Fund balances brought forward<br>**Fund balances at carried forward**<br>**24/25**|**Unrestricted**<br>**funds**<br>**£**<br>49,482<br>85,730<br>13,121<br>7,250,348<br>7,398,681<br>89,554<br>6,330,748<br>6,420,302<br>978,379<br>-<br>978,379<br>6,827,060<br>7,805,439|**Restricted**<br>**funds**<br>**£**<br>41,842<br>-<br>-<br>-<br>41,842<br>-<br>15,151<br>15,151<br>26,691<br>-<br>26,691<br>70,804<br>97,495|**Total**<br>**funds**<br>**£**<br>91,324<br>85,730<br>13,131<br>7,250,348|
|---|---|---|---|
||||7,440,523|
||||89,554<br>6,345,899|
||||6,435,453|
||||1,005,070<br>-|
||||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**<br>At 1 September 2021<br>Additions<br>At 31 August 2022<br>**Depreciation**<br>At 1 September 2021<br>Charge for year<br>At 31 August 2022<br>**Net Book Value**<br>**At 31 August 2022**<br>31 August 2021|**Freehold**<br>**Land and**<br>**Buildings**<br> <br>**£**<br>7,032,800<br>22,553<br>7,055,353<br>702,058<br>132,623<br>834,681<br>**6,220,672**<br>6,330,742|**Leasehold**<br>**Property**<br>**Short Lease**<br>**£**<br> <br>2,162,444<br> <br>134,082<br> <br>2,296,526<br> <br>847,216<br> <br>58,736<br> <br>905,952<br> <br>**1,390,574**<br> <br>1,315,228|**Fixtures,**<br>**Fittings &**<br> <br>**Equipment**<br>**£**<br> <br>1,349,342<br> <br>95,242<br> <br>1,444,584<br> <br>1,050,111<br> <br>107,981<br> <br>1,158,092<br> <br>**286,492**<br> <br>299,231|**Motor**<br>**Vehicles**<br>**£**<br> <br>58,723<br> <br>-<br> <br>58,723<br> <br>52,532<br> <br>6,191<br> <br>58,723<br> <br>**-**<br> <br>6,191|**Total**<br>**£**<br> <br>**10,603,309**<br> <br>**251,877**|
|---|---|---|---|---|---|
||||||<br>**10,855,186**|
||||||<br>**2,651,917**<br> <br>**305,531**|
||||||<br>**2,957,448**|
||||||**7,897,738**|
||||||<br>**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<br>Aggregate depreciation<br>Net book value<br>Value of land and buildings|**2022** <br>**£** <br>**1,474,652** <br>**(516,273)** <br>**958,379** <br>**1,065,000**|<br>2021<br> <br>£<br> <br>1,474,652<br>(471,984)<br> <br>1,002,668<br> <br>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<br>Turnover<br>Administrative expenses<br>Donation to parent entity<br>Net profit/(loss)<br>Summary balance sheet<br>Fixed assets<br>Current assets<br>Creditors falling due within one year<br>Net assets<br>Aggregate share capital and reserves<br>**Contribution by parent company**<br>The parent charity contributions to the results for the year is as follows:<br>Income<br>Expenditure<br>Net income/(expenditure) for the year|**Battle Abbey School**<br>**Enterprises Limited**<br>**2022** <br>2021<br>**£** <br>£<br>**256,497** <br>64,458<br>**(172,025)** <br>(50,942)<br>**-** <br>-<br>**84,472** <br>13,516<br>**1,755** <br>2,706<br>**255,175** <br>106,765<br>**(172,457)** <br>(95,954)<br>**84,473** <br>13,517<br>**84,473** <br>13,517<br>**7,981,671** <br>7,376,065<br>**(6,946,327)** <br>(6,384,511)<br>**1,035,344** <br>991,554|**Battle Abbey School**<br>**Enterprises Limited**<br>**2022** <br>2021<br>**£** <br>£<br>**256,497** <br>64,458<br>**(172,025)** <br>(50,942)<br>**-** <br>-<br>**84,472** <br>13,516<br>**1,755** <br>2,706<br>**255,175** <br>106,765<br>**(172,457)** <br>(95,954)<br>**84,473** <br>13,517<br>**84,473** <br>13,517<br>**7,981,671** <br>7,376,065<br>**(6,946,327)** <br>(6,384,511)<br>**1,035,344** <br>991,554|
|---|---|---|
|||<br>13,516|
|||<br>2,706<br> <br>106,765<br> <br>(95,954)|
|||<br>13,517|
|||<br>13,517|
|||<br>7,376,065<br> <br>(6,384,511)|
|||<br>991,554|



## **16 DEBTORS** 

|Fee debtors<br>Amounts due from subsidiaries<br>Prepayments and accrued income<br>Other debtors|**Group**<br>**2022**<br>**2021**<br>**£**<br>**£**<br>**226,253**<br>111,894<br>**-**<br>-<br>**101,573**<br>149.881<br>**75,222**<br>1,500<br>**403,048**<br>263,275|**School**<br>**2022**<br>**2021**<br>**£**<br>**£**<br>**226,253**<br>111,894<br>**62,487**<br>8,872<br>**100,450**<br>146,929<br>**75,222**<br>-|
|---|---|---|
|||**464,412**<br>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)<br>Other loans<br>Trade creditors<br>Accruals and other creditors<br>Fees in advance<br>Advance fees payment scheme (note 20)<br>Deposits<br>Other taxes and social security|**Group**<br>**2022**<br>**2021**<br>**£**<br>**£**<br>**132,650**<br>130,158<br>**40,000**<br>40,000<br>**36,960**<br>140,789<br>**247,112**<br>274,072<br>**1,050,618**<br>930,743<br>**216,113**<br>352,040<br>**409,156**<br>391,894<br>**126,633**<br>90,341<br>**2,259,242**<br>2,350,037|**School**<br>**2022**<br>**2021**<br>**£**<br>**£**<br>**132,650**<br>130,158<br>**40,000**<br>40,000<br>**17,166**<br>130,953<br>**203,494**<br>208,413<br>**1,050,618**<br>930,743<br>**216,113**<br>352,040<br>**409,156**<br>391,894<br>**80,240**<br>78,754|
|---|---|---|
|||**2,149,437**<br>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)<br>Advance Fees Payment Scheme (note 20)<br>Other loans|**Group**<br>**2022**<br>2021<br>**£**<br>£<br>**503,455**<br>637,084<br>**159,453**<br>289,989<br>**240,092**<br>280,088<br>**903,000**<br>1,207,161|**School**<br>**2022**<br>2021<br>**£**<br>£<br>**503,455**<br>637,084<br>**159,453**<br>289,989<br>**240,092**<br>280,088|
|---|---|---|
|||**903,000**<br>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:<br>Less than one year<br>In more than one year but less than two years<br>In more than two years but less than five years<br>In more than five years|**2022**<br>**£**<br> <br>**132,650**<br>**136,242**<br>**367,213**<br>**-**<br>**636,105**|2021<br>£<br>130,158<br>132,651<br>391,345<br>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<br>Amounts due after more than one year but less than two years<br>Amounts due after more than two years but less than five years|**2022**<br>**£**<br>**216,113**<br>**159,453**<br>**-**<br>**375,566**|2021<br>£<br>352,040<br>189,338<br>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<br>Amounts received in year<br>Amounted credited to pupil accounts for fees<br>**Balance as at 31 August 2022**|**2022**<br>**£**<br>**642,029**<br>**111,410**<br>**(377,873) **<br>**375,566**|2021<br>£<br>612,884<br>117,852<br>(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<br>Between one year and five years|**Land & Buildings**<br>**2022**<br>2021<br>**£**<br>£<br>**118,105**<br>118,105<br>**111,105**<br>222,210<br>**229,210**<br>340,315|**Other**<br>**2022**<br>2021<br>**£**<br>£<br>**13,407**<br>20,510<br>**1,921**<br>15,327|
|---|---|---|
|||**15,328**<br>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**<br>General reserves<br>**Restricted funds**<br>Bursary and Appeal<br>Fund<br>Nursery School Fund<br>**Total funds**|**Balance at 1**<br>**September**<br>**2021**<br>**Income**<br>**Expenditure**<br>**Transfer**<br>**Gains/**<br>**(losses)**<br>**Balance at**<br>**31 August**<br>**2022**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>7,805,439<br>8,225,871<br>(7,107,850)<br>-<br>-<br>**8,923,460**|
|---|---|
||94,109<br>12,297<br>(10,502)<br>-<br>-<br>**95,904**<br>3,386<br>-<br>-<br>-<br>-<br>**3,386**|
||97,495<br>12,297<br>(10,502)<br>-<br>-<br>**99,290**|
||**7,902,934**<br>**8,238,168**<br>**(7,118,352)**<br>**-**<br>**-**<br>**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** 

|<br>**Fund balances at 31 August 2022 are represented by**<br>Fixed assets<br>Current assets<br>Creditors: less than one year<br>Creditors: more than one year|**Unrestricted**<br>**Funds**<br>**£**<br>**7,897,738**<br>**4,187,964**<br>**(2,259,242)**<br>(903,000)<br>8,923,460|<br>**Restricted**<br>**Funds**<br>**£**<br> <br>**-**<br> <br>**99,290**<br> <br>**-**<br>-<br> <br>99,290|**Total**<br>**2022**<br>**£**<br> <br>**7,897,738**<br> <br>**4,287,254**<br> <br>**(2,259,242)**<br> <br>**(903,000)**|
|---|---|---|---|
||||<br>**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)** 

|<br>**Fund balances at 31 August 2021 are represented by**<br>Fixed assets<br>Current assets<br>Creditors: less than one year<br>Creditors: more than one year|**Unrestricted**<br>**Funds**<br>**£**<br>7,951,392<br>3,411,245<br>(2,350,037)<br>(1,207,161)<br>7,805,439|<br>**Restricted**<br>**Funds**<br>**£**<br>-<br>97,495<br>-<br>-<br> <br>97,495|**Total**<br>**2021**<br>**£**<br>**7,951,392**<br>**3,508,740**<br>**(2,350,037)**<br> <br>**(1,207,161)**|
|---|---|---|---|
||||<br>**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

2. 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

3. 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

5. 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

5. 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

6. 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 litl8*Son 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 non*compliance 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