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2022-07-31-accounts

Registered Company number: 00289787 (England and Wales)

Registered Charity number: 307001

GOVERNORS’ REPORT, STRATEGIC REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE) FOR THE YEAR END 31 JULY 2022

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

CONTENTS

Page Governors' Report (Incorporating the Strategic Report) 1 Statement of Governors' Responsibilities 11 Report of the Independent Auditors 12 Consolidated Statement of Financial Activities 16 Consolidated Balance Sheet 17 School Balance Sheet 18 Consolidated Cash Flow Statement 19 Notes to the Financial Statements 20

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

GOVERNORS, OFFICERS AND ADVISERS

GOVERNORS

Burgess Hill School for Girls Governors are the charity trustees and the company directors of Burgess Hill School for Girls Company (''the Charity''). They have all served in office throughout the year except where indicated. Together with past Governors who served in the year as indicated, they are:

Dr. A.D. Smith M.B.Ch.B., M.R.C.G.P. (Chairman) Mr. C. Armitage (Retired 21 Mar 2022) Mr T Burnage (Appointed 21 Mar 2022) Mr. S Condie Ms B Edminson (Appointed 11 Oct 2021) Mrs W Gibbs Mrs R Kay Mrs V Watt Mr. S.C. King Dr P Marshall Mrs A Morwood (Retired 21 Mar 2022) Mrs H Simpson Mrs K Smith (Appointed 27 Jun 2022) Mrs K Stephen-Martin (Retired 21 Mar 2022)

The Governors are appointed by the Board of Governors for a term of three years. They can be re‐ elected.

OFFICERS

The Secretary Mr G R Bond
The Head Mr L Fox
The Bursar and Clerk to the Governors Mr. G.R. Bond
Registered Office and principal address Burgess Hill School
Keymer Road Burgess Hill West Sussex RH15 OEG
Website www.burgesshillgirls.com
Charity Number 307001
Company Number 00289787

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BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

ADVISERS

Architects Neil Harding Watson
11 West Street
Chichester
West Sussex PO19 1TB
Auditors TC Group
Statutory Auditors The Courtyard Shoreham Road Upper
Beeding Steyning
West Sussex BN44 3TN
Bankers Barclays Bank plc
Barclays Business Banking Sussex & Gatwick Team PO Box
165
90 / 92 High Street
Crawley BX3 2BB
Insurance Brokers Ecclesiastical Beaufort House Brunswick Road Gloucester
GL1 1JZ
Investment Advisers Cazenove & Co.
3 Copthall Avenue
London EC2R 7BH
Solicitors DMH Stallard
Griffon House
135 High Street
Crawley
West Sussex
RH10 1DQ
Surveyors Baker Wilkins LLP Suite 10
Chapter House
33 London Road
Reigate
Surrey RH2 9HZ

The Governors of the School, being the directors of the Company and the trustees of the Charity, present their annual report for the year ended 31st July 2022 under the Companies Act 2006 and the Charities Act 2011, together with the audited financial statements for the year, and confirm that the latter comply with the requirements of the Companies Act 2006, the Company's Articles of Association and the Charities SORP, including Financial Reporting Standard 102 ‘The Financial Reporting Standard in the UK and the Republic of Ireland’.

REFERENCE AND ADMINISTRATIVE INFORMATION

Burgess Hill School for Girls Company is a charitable company founded in 1906, company registration number 00289787, charity registration number 307001, incorporated under the Companies Act 2006 as a company limited by guarantee and not having a share capital. The Governors, executive officers and registered office and address of the Company are listed on Page 1. Particulars of the Company's professional advisers are given on Page 3.

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BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Company is governed by its Articles of Association last amended on 6th March 2012.

Governing Body

The Governors are also required under the Articles to serve as members of the Company. The details of the Governing Body are explained on Page 2, together with information on how the members of the Governing Body are appointed to office.

Recruitment and Training of Governors

The Board reviewed the policy on 'The Recruitment/Selection/Resignation of Governors' at their meeting in June 2019.

The Governors review the constitution of the Board on an annual basis and consider:

The average number of Governors present at meetings

The full Board of Governors identifies the skills and/or experience required to complement discussions and the Board, Head and Bursar consider the eligibility, personal competence and local availability of suitable individuals to be put forward for consideration.

The Chairman of the Nominations Committee invites suitable individuals to tour the School, meet the Head and two Governors and discuss with them the responsibilities and commitment to the School expected of the role. The applicants are given the AGBIS 'Guidelines for Governors', CC3 'The Essential Trustee: What you need to know', a School prospectus and a copy of the expected duties.

Following election to the Board the Bursar and Clerk to the Governors confirms the appointment in writing and processes the administration in relation to Company and Charity membership and directorship. New Governors are encouraged to attend AGBIS and other Seminars relevant to Governors and also to spend time in the School with members of the Senior Leadership Team. The Board of Governors recognises the need to provide a continuing programme of Governor training.

Organisational Management

The Directors meet as a Board of Governors at least three times a year to determine the general policy of the Company and review its overall management and control for which they are legally responsible. The Board has delegated responsibility for certain personnel, financial and general management decisions to a Resources Committee, a Joint Educational Committee, a Nominations Committee and a Welfare and Boarding Committee to which it elects Members from among its number. Each Committee meets up to three times a year, prior to each Board Meeting.

Sub‐Groups are established as and when required to report to the Board on specific matters. The day to day management of the School is delegated to the Head and the Bursar supported by their Senior Leadership Team. The Head, Bursar and other staff as required to attend meetings of the above Committees.

The remuneration of key management personnel is set by the Board, with the policy objective of providing appropriate incentives to encourage enhanced performance and of rewarding them fairly and responsibly for their individual contributions to the School’s success.

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

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BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

The School aims to recruit, subject to experience, at the lower to medium point within a band, providing scope for rewarding excellence. Delivery of the School’s charitable vision and purpose is primarily dependent on our key management personnel and staff costs are the largest single element of our charitable expenditure.

Group Structure and Relationships

Burgess Hill School for Girls Company has one wholly owned non‐charitable subsidiary, Offterm Limited, whose activities and trading performance are regularly discussed by the governing body.

Burgess Hill School for Girls Company actively supports the attainment of the highest standards in the Independent Schools sector, partly through networking with other schools and partly through peer group studies for the evaluation of quality and performance improvement methods.

Burgess Hill School for Girls Company co‐operates with many local charities in our ongoing endeavours to widen public access to the schooling we can provide, to optimise the use of our cultural and sporting facilities and to awaken in our pupils an awareness of the social context of the education they receive at the School.

The School also benefits from the generosity of The Burgess Hill School Parent Teacher Association whose close support is greatly appreciated and gladly acknowledged.

Risk Management

The Board of Governors is responsible for the management of the risks faced by the School. The Board continues to keep the School's activities under review, particularly with regard to any major risks that may arise from time to time as well as the systems and procedures established to manage them. A recent review has highlighted that the general economic climate poses the most immediate and extreme risk to the wellbeing of the school. This is in addition to the political threat of removing charitable status from independent schools. The result of which could dramatically increase the financial risk to the Independent Sector as a whole. The Governors are confident that the School's procedures to manage its cost base in the light of these risks are effective and will safeguard the long‐term financial future of the School.

A similar exercise is undertaken before any exposure to major financial commitment. The School monitors the effectiveness of the system of internal controls and other viable means, including insurance cover where appropriate, by which those risks already identified can best be mitigated.

In the opinion of the Governors the Charity is in the process of building sufficient reserves which will allow these risks to be mitigated to an acceptable level in its day to day operations. It is recognised that the systems in place can only provide reasonable but not absolute assurance that the major risks outlined above have been adequately managed.

OBJECT, AIMS, OBJECTIVES AND ACTIVITIES

Object

The object of the Charity, in accordance with its Articles of Association, is to promote the education of children of any age.

Aims and Intended Effect

The School’s mission is to develop Tomorrow’s Women. The aim is to provide an outstanding, academic education which inspires every pupil to excel, whilst endowing pupils with confidence, self-belief and a determination to succeed. We will champion individual strengths and aspirations through our extensive co-curricular opportunities and forwardthinking initiatives such as the B-spoke and BOLD programmes. We embed a strong sense of moral responsibility through activities in the School and the local community.

To further achieve its aims the Governors have decided that the School will maintain and strengthen its current status as a single‐sex, selective, predominantly day‐school for the full age range from 2.5‐18 years with co‐ed nursery provision; offering small classes, a balanced curriculum, a full programme of co-curricular activities and the tradition of empowering girls to aspire high as well as fulfil their personal and academic potential.

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GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

The School will also remain independent and will continue to develop links with, and offer benefit to, the wider community.

Objectives for the Year

In setting our objectives and planning our activities the Governors have given careful consideration to the Charity Commission's general guidance on public benefit. This year, the focus has been on:

Strategies to achieve the year's objectives

The School is striving to improve its education provision partly through upgrading its IT hardware and software, and developing wider networks. Strategies include continuing to review the School's curriculum in order to benchmark academic standards against external public examinations and independent value‐added criteria, with academic achievements being balanced by a strong emphasis on sporting, creative and inter‐personal skills; maintaining the expertise of teaching staff and ensuring successor planning and staff development; the further development of links with local schools in both the state and independent sectors and also facilitating wider community access to our School's facilities.

In autumn 2021 the Governors authorised the purchase of another private dwelling which is adjacent to the School campus. This house could further enable the School to increase its boarding capacity.

Further general improvements to the School's infrastructure including a total refurbishment of the main boarding facility and a completely refurbished Senior School physics laboratory have been completed this year. This is in addition to the creation of a new science and technology teaching space in the Prep School.

Principal activities of the year

The School is a day and boarding school providing independent education to girls from the ages of 2.5‐18 years. The School provides education for both boys and girls aged 2.5‐4 in the Nursery. In 2021/22 the School had 453 (2020/21: 455) pupils on the roll with some year groups being full. The School has maintained consistent rigorous and proactive admissions criteria and the Governors are pleased with the high standards and continued achievements for which the School has become known.

Grant‐making policy

The School operates a policy of open competition for Scholarships in the Senior School. Some academic scholarships are funded for the Prep School. The School's policy, in line with that of other Independent Schools, is to make these awards on the basis of the individual's educational potential, subject to the particular conditions imposed by the original donor where the award is out of a restricted fund.

Academic, Music, Sport, Art and Drama Scholarships are offered, with day fee remission as a fixed value, dependent on the pupil’s ability, for entry into Year 7 (11+), Year 9 (13+) and into the Sixth Form (16+). The School offers means‐ tested bursaries to suitable applicants in the Senior School only from unrestricted funds, where the policy is to relieve hardship where the pupil's education and future prospects would otherwise be at risk. Awards can be as high as 100% of fees in exceptional cases.

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GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

Public Benefit Activities

Burgess Hill Girls is actively involved in local, national and international communities with charitable work. It is the Governors’ belief that this work benefits the public in the following areas:

  1. Areas that are of indirect benefit to the national and local communities

  2. Areas that are of direct benefit to the local community

  3. Areas that offer direct benefit to the international community

The remainder of this report is structured to demonstrate how the School provides public benefit in those three areas.

Indirect benefit to the national and local communities

The School believes that the provision of education (the School’s Charitable Objective) is, in itself, of benefit to the public, as it provides well educated and self‐confident people ready to contribute positively to society generally. Specifically, Burgess Hill Girls, in this reporting year, has educated 453 pupils on a fee paying basis. This has provided an indirect benefit to the Local Education Authority equivalent to the costs of educating those children, a cost estimated at around £5,800 per child per annum in 2020/2021.

Direct benefit to the local community

The Governors believe that the School is seen by the local community as an important asset to Burgess Hill. On a day to day operational level the School works to develop links with local maintained sector schools to share, where possible, resources. The School also works with and develops opportunities within the local community to both widen access to pupils and to allow the local community to benefit from a number of activities and facilities available at the School. These activities are, and must be, in line with the School’s charitable objective. Examples of public benefit activities that are of direct benefit to the local community are:

Activity Benefit to Public
Provision of Means Tested Bursaries widely
advertised on the School Website, in the Prospectus
and at events held in local maintained sector
schools.		 Widening access to children from families who would not
otherwise be able to afford independent education. In doing
so this reduces the burden on maintained sector schools.
Since 2004 the School's commitment to this area has
increased from £13,000 in 2003/04 to over £100,000 in
2021/22
Link to Burgess Hill Help Point to make School
events (plays, concerts etc.) available to Burgess Hill
citizens at no cost.		 Entertaining the wider community.
Annual Christmas Party for elderly residents. Summer
Garden Party for elderly residents.
The provision of placements for students studying
BTEC National Diplomas in Child Care.		 Transfer of skills from an outstanding (Ofsted inspection
result) independent nursery to the maintained sector.
Host Local Netball tournament. Provide facilities for external competitors.
The loan of minibuses to local schools and youth
groups.		 These, and many others like them, demonstrate the
School’s willingness to widen access to its facilities.
Support teacher training in the Prep School in
partnership with Brighton University		 Transfer of skills to the maintained sector.

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BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

Several
teachers
are
governors
at
local
maintained primary schools		 Transfer of skills to the maintained sector.
Careers’ days for girls from local maintained
sector schools.		 The School organises a range of careers events for students
throughout the school. The Tomorrow’s women conference
run by our Lower Sixth for internal and external students in
year 9 and above provides valuable career information and
opportunities.
Support to Local Schools.
The Head liaises with schools in the community.
The purpose of this is to organise events and
support the children and staff in all local schools.
The Head also liaises with local secondary
Schools in the maintained sector.		 Events are organised to support learning, provide facilities
and events that other schools would
not be able to provide themselves, for example:
1. Local netball tournament
2. Debating competitions and workshops
3.
High
Flyers
Event,
Oxbridge
and
University
preparation
4. Making the right University choices
5. Rotary Public Speaking competition
6. Drama production opportunities
Provision of teaching staff to undertake
Inspection and teacher training placements.		 Support with trainee teacher recruitment and training
through Brighton University.
Charity Fundraising. BHG supporting the local community and National charities
such as Children In Need
Assistance provided for the Brighton Marathon. BHG supporting the local community
Harvest Festival contributions to Burgess Hill
Food Bank, Crawley Open house. Christmas gifts
to the Salvation Army and local care homes.		 BHG supporting the local community
Musical events for a range of local community
organisations and charities.
Gifts for the elderly & animal shelters
Hire of facilities		 BHG supporting the local community
BHG supporting local charities
Supporting the local community by hiring facilities for public
use such as the local running club/fitness group etc.
Prep School Head qualified as Mountain
Leader.		 Actively supports all elements of Duke of Edinburgh Award
including Gold for units across the South East of England
Rotary Public Speaking Competition and English
Speaking Union events, including a debating club
for local schools.		 Host and support these events to enable local children to be
involved

This list of activities demonstrates the School’s willingness to involve itself at the heart of its local community and with maintained sector schools.

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BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

Wider Community

Burgess Hill Girls actively engages with the local business community to widen the girls' knowledge of commerce. Visits and events are held to endorse these links. Careers days are focused on providing an opportunity for girls to see high achieving women in the workplace.

Burgess Hill Girls is in partnership with local primary and secondary schools and delivers outreach projects and initiatives as well as hosting several events on an annual basis. These opportunities include invitations to pupils from local schools to attend sporting events and music and drama workshops including Choral Days, sporting Masterclasses and tournaments, careers, university and Oxbridge initiatives, as well as opening up our facilities to local schools, societies and clubs within the community.

Burgess Hill Girls frequently invites the wider local community in to the School for a variety of specific events, all of which contribute to providing a balanced all round education for our girls. Specific events include a Carers' Day, several Senior Citizen functions including a Tea Party with entertainment by the girls, Musical Concerts and Drama productions.

The Governors are continually reviewing the way in which the School provides public benefit and strive to improve it. This can be evidenced by the increase in the value of means tested bursaries that the School has offered over the past ten years.

Direct benefit to the international community

The School is currently providing fully funded day places to three refugee children from the current war in Ukraine. The girls joined the School in June 2022 and quickly settled into the sixth form for one, with the other two girls entering the Prep School. The School has received some monetary assistance from both West Sussex Council and IAPS. It has, over the past thirteen years, developed a relationship with the Quicken Trust. This trust provides educational facilities to children in rural Uganda. This relationship has currently ceased due to the concerns over the safety of the students in this country. The School has also, for many years, provided shoes to school children to facilitate them to attend School in Isubilo, Zambia, Africa.

Summary

The Governors have paid due regard to the guidance issued by the Charity Commission in deciding what activities the school should undertake.

The Governors believe that the activities reported above demonstrate a significant commitment (both financial and non‐financial) to the international, national, and local communities thus meeting the objective in the School's Strategic Plan and clearly providing a significant level of benefit to the public. This commitment is charitable within the School's Charitable Objectives.

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BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

STRATEGIC REPORT

Review of Achievements and Performance for the Year

Operational performance of the School

The Governors considered the academic results in 2022 to be of an excellent standard. The 'A' Level pass rate was 100% with 83% passes at A*, A or B grades. At GCSE the pass rate was 100% grade 9-4 with 72% passes at 9-7.

Pupils from the School also took part in a wide range of sporting, cultural and extra‐mural activities too numerous to mention in this report, but all of which contribute to the development of personal self‐ esteem and confidence.

Wider access to our schooling was achieved during 2021/22 as scholarships, awards, bursaries and allowances totalling £967,565 were awarded from our free reserves, designated and restricted funds. A total of 37 pupils who may not have been able to attend the School were assisted to do so by the award of a bursary.

The School continues with its programme of refurbishment of the School’s facilities and advancement of resources. The programme for the following year is discussed and agreed in January each year in order to inform the budget considerations for the next academic year.

The School's facilities continue to be much in demand during out of school hours for local sporting and special interest clubs.

Financial Review and Results for the Year

The principal income for the School is derived from the fees charged to parents. There is additional income from deposit interest received, from the second hand sale of school uniform and from letting the School's premises outside school use. The subsidiary trading company has continued to contribute to the overall financial result.

Total incoming resources of the group amounted to £8,604,251 (2021: £8,237,113). Total funds of the group now total £10,048,257 (2021: £9,901,863).

Note 23 to the Financial Statements sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the charity's obligations on a fund by fund basis.

The School's tangible assets are all held for use in the School.

The valuation of the freehold land and buildings of the Company depends largely on their continued use as a boarding and day school or similar activity. The Governors are satisfied that, assuming that they continue to be used for their current purposes and are maintained in good repair, the market value of the freehold land and buildings is in excess of the value at which they are stated in these financial statements.

Investment policy and objectives

Investments are held to create income to fund some awards as well as providing a cash buffer for working capital purposes.

Monies are currently invested in the following:

The performance for the year has shown a decrease in the market value of the above investments as at 31 July 2022 being £682,355 (2021: £719,486). The School’s investment performance is expected to improve, over the longer term, once the various financial shocks have abated.

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BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

Investment powers are governed by the Articles of Association which allows the School to invest any monies of the Company not immediately required for its purposes in or upon such investments, securities or property of whatsoever nature as may be thought fit.

Reserves policy

At the Balance Sheet date, the group had unrestricted funds of £9,936,284 of which £9,787,174 are invested in tangible assets. The remainder of the reserves £682,809 are retained to provide the necessary cash resources to enable the charity to protect its current activities. The School continues to operate with minimal reliance on bank financing and aims to rebuild its reserves to a level that would cover three months of operating costs. The income from the cash reserve is available to fund some scholarships and or bursaries.

The School’s policy is, therefore, to rebuild free reserves to the ideal level by means of annual operating surplus, subject to the prior demands of further capital expenditure to equip the School with the up‐to‐date facilities needed to maintain and improve the standard of educational services currently provided.

Plans for Future Periods

Currently, spending on non-essential capital projects is ongoing, with the refurbishment of one of the boarding houses, one physics laboratory and a technical/science room in the prep school.

The Governors remain committed to the Travel Plan for the School to reduce the number and frequency of cars coming to the School throughout the day to relieve congestion in the local area. As part of this plan the Governors continue to support the School’s fleet of minibuses which now run on ten different routes throughout Sussex. Where there are still cars delivering pupils, the production and upgrading of the drop-off zone, on the School premises, has alleviated a good deal of congestion in the roads surrounding the School. The School is also very pleased that the pedestrian crossing, outside the School on the Keymer Road, is now being used regularly by the pupils and general public.

Whilst recognising that the financial results are entirely satisfactory, the Board is not complacent in exercising its responsibility to secure the long‐term stability of the School.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the Governors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each Governor has taken all the steps that he or she ought to have taken as a Governor in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The Governors have complied with this requirement by delegating this reporting responsibility to members of the Finance Committee who have the knowledge and experience required.

AUDITORS

In accordance with Section 385 of the Companies Act 2006, a resolution proposing the appointment of Haysmacintyre as auditors to the company will be put to the Annual General Meeting.

This Report including the Strategic Report was approved by the Board of Directors at its meeting on …………………….. and signed on its behalf by:

Mr G R Bond (Secretary)

Date:………………… 2022

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BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE) STATEMENT OF GOVERNORS’ RESPONSIBILITIES

The Governors, who are also the directors of Burgess Hill School for Girls Co for the purpose of company law, are responsible for preparing the Governors' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard FRS102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

Company law requires the Governors to prepare accounts for each financial year which give a true and fair view of the state of 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 accounts, the Governors are required to:

The Governors are responsible for keeping proper 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.

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BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

We have audited the financial statements of Burgess Hill School for Girls Company (‘the charitable company’) and its subsidiaries (‘the group’) for the year ended 31 July 2022 which comprise the Consolidated Statement of Financial Activities, the Group Balance Sheet, the Charity Balance Sheet, the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. 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.

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BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

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

Responsibilities of trustees

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

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BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-andguidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditorsresponsibilities-for-audit.aspx. This description forms part of our auditor’s report.

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:

14

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

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 non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Cummins FCCA (Senior Statutory Auditor) for and on behalf of TC Group Statutory Auditors Office: Sussex Dated: ………………………

15

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

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

FOR THE YEAR ENDED 31 JULY 2022

INCOME FROM:
Notes
Donations and legacies
6
Grants
7
Other trading activities
8
Investments
9
Charitable activities
10
Other income
11
Total income
EXPENDITURE ON:
12
Raising funds
Charitable activities
Total expenditure
Net income/expenditure before
transfers and investment
gains/(losses)
Pension re-measurement
21
Unrealised gains / (losses) on
investments
16
Net income/(expenditure)
Transfers between funds
23
Net movement in funds
Fund balances brought forward
23
Fund balances at carried forward
23		 Unrestricted
funds
£
147
-
94,453
5,305
8,482,365
-
8,582,270
600
8,443,841
8,444,441
137,829
45,696
-
183,525
-
183,525
8,709,809
8,893,334		 Designated
funds
£
-
-
-
21,981
-
-
21,981
-
21,981
21,981
-
-
(31,607)
(31,607)
-
(31,607)
1,074,557
1,042,950		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
(5,524)
(5,524)
-
(5,524)
117,497
111,973		 Total 2022
£
147
-
94,453
27,286
8,482,365
-
8,604,251
600
8,465,822
8,466,422
137,829
45,696
(37,131)
146,394
-
146,394
9,901,863
10,048,257		 Total 2021
£
933
130,092
36,187
16,681
8,047,613
5,607
8,237,113
224
7,982,686
7,982,910
254,203
-
107,391
361,594
-
361,594
9,540,269
9,901,863

All income and gains for the year are recognised above. All of the group's activities other than those identified above 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.

16

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

CONSOLIDATED BALANCE SHEET

FOR THE YEAR ENDED 31 JULY 2022

Notes
FIXED ASSETS
Tangible assets
15
Investments
16
CURRENT ASSETS
Stock
Debtors
17
Cash at bank and in hand
CURRENT LIABILITIES
Creditors due within one year
18
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
LONG TERM LIABILITIES
Creditors due after one year
19
NET ASSETS
REPRESENTED BY:
23
RESTRICTED FUNDS
UNRESTRICTED FUNDS
General funds
Designated funds		 2022
£
£
9,787,174
682,355
10,469,529
7,647
194,558
1,108,999
1,311,204
(951,921)
359,283
10,828,812
(780,555)
10,048,257
111,973
8,893,334
1,042,950
9,936,284
10,048,257		 2021
£
£
8,027,000
719,486
8,746,486
5,725
150,608
2,519,076
2,675,409
(729,282)
1,946,127
10,692,613
(790,750)
9,901,863
117,497
8,709,809
1,074,557
9,784,366
9,901,863		 2021
£
£
8,027,000
719,486
8,746,486
5,725
150,608
2,519,076
2,675,409
(729,282)
1,946,127
10,692,613
(790,750)
9,901,863
117,497
8,709,809
1,074,557
9,784,366
9,901,863
7,647
194,558
1,108,999		 5,725
150,608
2,519,076
1,311,204
(951,921)		 2,675,409
(729,282)
8,893,334
1,042,950		 8,709,809
1,074,557
10,692,613
(790,750)
9,901,863
117,497
9,784,366
9,901,863

The notes on pages 20 to 34 form part of these financial statements

The accounts were approved by the Board of Governors and signed on their behalf by:

…………………………………………………… Dr A Smith (Chair)

Date: ……………………………………..

Company Number – 00289787

17

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

SCHOOL BALANCE SHEET

FOR THE YEAR ENDED 31 JULY 2022

Notes
FIXED ASSETS
Tangible assets
15
Investments
16
CURRENT ASSETS
Stock
Debtors
17
Cash at bank and in hand
CURRENT LIABILITIES
Creditors due within one year
18
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
LONG TERM LIABILITIES
Creditors due after one year
19
NET ASSETS
REPRESENTED BY:
23
RESTRICTED FUNDS
UNRESTRICTED FUNDS
General funds
Designated funds		 2022
£
£
9,787,174
682,357
10,469,531
7,647
199,835
1,074,700
1,282,182
(950,961)
331,221
10,800,752
(780,555)
10,020,197
111,973
8,865,274
1,042,950
9,908,224
10,020,197		 2021
£
£
8,027,000
719,488
8,746,488
5,725
153,422
2,512,778
2,671,925
(728,322)
1,943,603
10,690,091
(790,750)
9,899,341
117,497
8,707,287
1,074,557
9,781,844
9,899,341		 2021
£
£
8,027,000
719,488
8,746,488
5,725
153,422
2,512,778
2,671,925
(728,322)
1,943,603
10,690,091
(790,750)
9,899,341
117,497
8,707,287
1,074,557
9,781,844
9,899,341
7,647
199,835
1,074,700		 5,725
153,422
2,512,778
1,282,182
(950,961)		 2,671,925
(728,322)
8,865,274
1,042,950		 8,707,287
1,074,557
10,690,091
(790,750)
9,899,341
117,497
9,781,844
9,899,341

The notes on pages 20 to 34 form part of these financial statements

The accounts were approved by the Board of Governors and signed on their behalf by:

…………………………………………………… Dr A Smith (Chair)

Date: ……………………………………..

Company Number – 0028978

18

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 JULY 2022

2022
Notes
£
£
Cash flows from operating activities:
Net income/expenditure for the year
146,394
Adjustments for:
Depreciation charges
15
541,573
Dividends, interest and rents from investments
9
(27,286)
Loss/(profit) from sale of tangible assets
11
-
Loss/(gains) from investments
16
37,131
(Increase)/decrease in stock
(1,922)
(Increase)/decrease in debtors
17
(43,949)
Increase/(decrease) in creditors
18,19
212,444
Net cash provided by/(used in) operating
activities
864,384
Cash flows from investing activities:
Dividends, interest and rents from investments
9
27,286
Proceeds from sale of tangible fixed assets
-
Purchase of tangible fixed assets
15
(2,301,747)
Net cash used in investing activities
(2,274,461)
Increase/(decrease) in cash and cash
equivalents in the year
(1,410,077)
Cash and cash equivalents at the beginning of
the year
2,519,076
Cash and cash equivalents at the end of the
year
1,108,999
Analysis of net cash/(debt)
At 1 August
Cash flow
2021
£
£
Cash at bank and in hand
2,519,076
(1,410,077)		 2021
£
£
361,594
373,338
(16,681)
(5,607)
(107,391)
6,800
123,863
146,012
881,928
16,681
6,750
(744,396)
(720,965)
160,963
2,358,113
2,519,076
Non-cash
At 31 July
Changes
2022
£
£
-
1,108,999		 2021
£
£
361,594
373,338
(16,681)
(5,607)
(107,391)
6,800
123,863
146,012
881,928
16,681
6,750
(744,396)
(720,965)
160,963
2,358,113
2,519,076
Non-cash
At 31 July
Changes
2022
£
£
-
1,108,999
16,681
6,750
(744,396)
(720,965)
Non-cash
Changes
£
-
160,963
2,358,113
2,519,076
At 31 July
2022
£
1,108,999

19

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

1 STATUTORY INFORMATION

The charity 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

The financial statements have been prepared under the Companies Act 2006, The Charities Act 2011 and in accordance with the Charities' Statement of Recommended Practice (SORP (FRS 102)) and Financial Reporting Standard 102.

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy.

After reviewing the charity's forecasts and projections, the Governors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its 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

Fees receivable and charges for services, less any allowances, scholarships and bursaries granted by the school against those fees 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, including those fees received under an advance fee payment scheme.

Investment income is accounted for on an accruals basis.

Donations, legacies, grants and other voluntary income are accounted for as and when entitlement arises, the amount can be reliably measured and the economic benefit is considered probable. Where a donor or an appeal has imposed restrictions the income is credited to a restricted fund.

Turnover is the amount derived from letting the Burgess Hill School premises falling within the company's ordinary activities, rental income is recognised on an accruals basis.

2.4 Expenditure

Expenditure is accounted for on an accruals basis with irrecoverable VAT included with the item to which it relates.

Redundancy and termination payments are charged to the Statement of Financial Activities on an accrual basis.

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.

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.

20

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

2 ACCOUNTING POLICIES (continued)

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 is not depreciated

Freehold buildings -2% on cost of completed buildings / 5% on cost of temporary buildings Motor vehicles, furniture & equipment -20% on cost

Projects totalling less than £2,500 and the majority of information technology equipment are written off as an expense as acquired.

The Governors are satisfied that the market value of the freehold land and buildings is in excess of the value at which they are stated in these financial statements.

2.6 Investments

Listed investments are included at fair value as at the balance sheet date. Unrealised gains and losses arising on revaluation are credited or charged to the Statement of Financial Activities and are allocated to the appropriate fund according to the ownership of the underlying assets.

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

2.7 Stock

Stock is valued at the lower of cost or net realisable value. Cost is computed on a first in first out basis. Net realisable value is based on estimated selling price less the estimated cost of disposal.

2.8 Pensions

Until the 31 August 2020, when it withdrew from the scheme, the school contributed to the Teachers Pension Scheme. From the 1 September 2020 the school joined the Aviva APTIS scheme for Teachers. In addition, the school makes contributions to a defined benefit scheme, The Pensions Trust. The school is unable to identify its share of the underlying (notional) assets and liabilities of these schemes. Accordingly, under FRS 102 the schemes are accounted for as if they were defined contribution schemes.

The school also contributes to personal pension schemes for its non-teaching staff.

2.9 Cash at bank and in hand

Cash at bank and in hand includes bank accounts, cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposits or similar account.

2.10 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 the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

21

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

2 ACCOUNTING POLICIES (continued)

2.11 Debtors

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

2.12 Lease and hire purchase commitments

Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the outstanding capital.

All other leases are regarded as operating leases and the payments made under them are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

2.13 Fund accounting

General funds and unrestricted funds are available for use at the discretion of the Governors in furtherance of the general objectives of the charity and have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Governors for particular purposes. The aim and use of each designated fund is set out in note 23 to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific funds. The aim and use of each restricted fund is set out in note 23 to the financial statements.

2.14 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees 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.

The trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.

3 TURNOVER

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

4
NET INCOME/(EXPENDITURE)
This is after charging:
Depreciation
Profit/(Loss) on disposal of assets
Auditors’ remuneration – school audit services
Auditors’ remuneration – subsidiary audit services		 2022
£
2021
£
541,573
377,338
-
5,607
12,250
12,890
1,250
1,170

22

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

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.

6 INCOME FROM DONATIONS AND LEGACIES

Unrestricted

£
Donations
147
7
INCOME FROM GRANTS
Unrestricted

£
Coronavirus Job
Retention Scheme
-
8 INCOME FROM OTHER TRADING ACTIVITIES
Unrestricted

£
Lettings and rental income
59,793
Subsidiary trading income
34,660
94,453		 Designated
£
-
Designated
£
-
Designated
£
-
-
-		 Restricted
£
-
Restricted
£
-
Restricted
£
-
-
-		 Total
2022
£
147
Total
2022
£
-
Total
2022
£
59,793
34,660
94,453		 Total
2021
£
933
Total
2021
£
130,092
Total
2021
£
30,441
5,746
36,187

The charity owns the whole of the share capital of Offterm Limited (year ended 30 June 2022), which controls the letting of the school's premises. The subsidiary donates any taxable profits to the charity each year as a charitable donation and its results are included within these consolidated financial statements.

9 INCOME FROM INVESTMENTS

Unrestricted Designated Restricted Total Total
2022 2021
£ £ £ £ £
Interest and dividends 5,305 21,981 - 27,286 16,681

23

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

10 INCOME FROM CHARITABLE ACTIVITIES

Gross school fees
Less bursaries and allowances
Net school fees
Add:
Scholarships, bursaries and awards from restricted/designated funds
Registration fees
School bus/transport income
Other ancillary income
11 OTHER INCOME
Unrestricted
Designated
Restricted
£
£
£
Gains on disposal of
tangible fixed assets
-
-
-
12 ANALYSIS OF EXPENDITURE
Staff costs
Depreciation
Other
costs
£
£
£
Cost of raising fund:
Subsidiary trading activities
-
-
600
Total cost of raising funds
-
-
600
Charitable expenditure:
Education
Teaching
4,202,455
-
430,593
Welfare
522,947
-
498,617
Premises
443,270
273,589
712,386
Support and governance
539,351
267,984
552,649
Bursaries and scholarships
from restricted/designated
-
-
21,981
Total charitable expenditure
5,708,023
541,573
2,216,226
Total expenditure
5,708,023
541,573
2,216,826		 Gross school fees
Less bursaries and allowances
Net school fees
Add:
Scholarships, bursaries and awards from restricted/designated funds
Registration fees
School bus/transport income
Other ancillary income
11 OTHER INCOME
Unrestricted
Designated
Restricted
£
£
£
Gains on disposal of
tangible fixed assets
-
-
-
12 ANALYSIS OF EXPENDITURE
Staff costs
Depreciation
Other
costs
£
£
£
Cost of raising fund:
Subsidiary trading activities
-
-
600
Total cost of raising funds
-
-
600
Charitable expenditure:
Education
Teaching
4,202,455
-
430,593
Welfare
522,947
-
498,617
Premises
443,270
273,589
712,386
Support and governance
539,351
267,984
552,649
Bursaries and scholarships
from restricted/designated
-
-
21,981
Total charitable expenditure
5,708,023
541,573
2,216,226
Total expenditure
5,708,023
541,573
2,216,826		 Gross school fees
Less bursaries and allowances
Net school fees
Add:
Scholarships, bursaries and awards from restricted/designated funds
Registration fees
School bus/transport income
Other ancillary income
11 OTHER INCOME
Unrestricted
Designated
Restricted
£
£
£
Gains on disposal of
tangible fixed assets
-
-
-
12 ANALYSIS OF EXPENDITURE
Staff costs
Depreciation
Other
costs
£
£
£
Cost of raising fund:
Subsidiary trading activities
-
-
600
Total cost of raising funds
-
-
600
Charitable expenditure:
Education
Teaching
4,202,455
-
430,593
Welfare
522,947
-
498,617
Premises
443,270
273,589
712,386
Support and governance
539,351
267,984
552,649
Bursaries and scholarships
from restricted/designated
-
-
21,981
Total charitable expenditure
5,708,023
541,573
2,216,226
Total expenditure
5,708,023
541,573
2,216,826		 Total
2022
£
9,360,982
(1,029,489)
8,331,493
21,981
23,350
96,368
9,173
8,482,365
Total
2022
£
-
Total
2022
£
600
600
4,633,048
1,021,564
1,429,245
1,359,984
21,981
8,465,822
8,466,422		 Total
2021
£
8,879,639
(967,565)
7,912,074
17,165
27,520
62,086
28,768
8,047,613
Total
2021
£
5,607
Total
2021
£
224
600 224
430,593
498,617
712,386
552,649
21,981		 4,358,540
903,837
1,449,200
1,253,944
17,165
2,216,226 7,982,686
2,216,826 7,982,910

24

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

12 ANALYSIS OF EXPENDITURE (continued)

Analysis of support and governance costs:

Governance costs:
Auditors’ remuneration for audit services
Governors’ training
Public liability insurance
Total governance costs
Support costs:
Auditors’ remuneration for non audit services
Legal and professional fees relating to support
Support staff wages, national insurance and pension
Advertising and marketing
Other support costs		 Total
2022
£
12,250
-
-
12,250
1,250
58,355
539,351
187,990
560,788
1,359,984		 Total
2021
£
12,890
-
8,258
21,148
1,170
28,974
586,000
161,763
454,889
1,253,944

13 STAFF COSTS

The average monthly headcount was 196 staff (2021: 186 staff) and the average monthly number of full time equivalent employees during the year was:

Teaching
Welfare
Premises
Support		 2022
Number
87
14
15
23
139		 2021
Number
83
13
15
24
135

The aggregate payroll costs for the year were as follows:

Wages and salaries
Social security costs
Other pension costs		 2022
£
4,670,205
453,043
584,775
5,708,023		 2021
£
4,612,200
435,414
587,740
5,635,354

25

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

13 STAFF COSTS (continued)

None of the governors received any remuneration or other benefits from the school or any connected body. No Governors (2021: none) had expenses reimbursed in the amounts detailed in note 12.

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

£60,000 - £69,999
£70,000 - £79,999
£90,000 - £99,999
£100,000 +		 2022
Number
4
-
-
2
6		 2021
Number
3
1
1
1
6

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

Defined contribution schemes
Defined benefits schemes		 2022
£
3,378
59,097
62,475		 2021
£
3,378
68,597
71,975

The key management personnel of the school comprise the Head, Assistant Head of Academic Development, Assistant Head of Pastoral and Boarding, Bursar, Head of Prep School and Head of Sixth Form.

2022 2021
£ £
Aggregate employee benefits of key management personnel (including
employer pension contributions)		 577,127 588,009

26

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

14 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES – 31 JULY 2021

INCOME FROM:
Notes
Donations and legacies
6
Grants
7
Other trading activities
8
Investments
9
Charitable activities
10
Other income
11
Total income
EXPENDITURE ON:
12
Raising funds
Charitable activities
Total expenditure
Net expenditure before transfers
and investment gains/(losses)
Losses on investments
16
Net income/(expenditure)
Transfers between funds
23
Net movement in funds
Fund balances brought forward
23
Fund balances at carried forward
23		 Unrestricted
funds
£
933
130,092
36,187
(484)
8,047,613
5,607
8,219,948
224
7,965,521
7,965,745
254,203
-
254,203
-
254,203
8,455,606
8,709,809		 Designated
funds
£
-
-
-
17,165
-
-
17,165
-
17,165
17,165
-
91,324
91,324
-
91,324
983,233
1,074,557		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
16,067
16,067
-
16,067
101,430
117,497		 Total 2021
£
933
130,092
36,187
16,681
8,047,613
5,067
8,237,113
224
7,982,686
7,982,910
254,203
107,391
107,391
-
361,594
9,540,269
9,901,863

27

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

15 TANGIBLE FIXED ASSETS – GROUP AND SCHOOL


Cost
At 1 August 2021
Additions
At 31 July 2022
Depreciation
At 1 August 2021
Charge for the year
At 31 July 2022
Net book value
At 31 July 2022
At 31 July 2021		 Freehold
Buildings &
Infrastructure
£
11,330,697
1,906,568
13,237,265
3,876,789
273,589
4,150,378
9,086,887
7,453,908		 Furniture &
Equipment
£
1,383,230
395,179
1,778,409
810,138
267,984
1,078,122
700,287
573,092		 Total
£
12,713,927
2,301,747
15,015,674
4,686,927
541,573
5,228,500
9,787,174
8,027,000

Included in the total net book value of Furniture and Equipment was £238,679 (2021- £182,054) in respect of assets held under finance leases.

16 INVESTMENTS

INVESTMENTS
Fair value
At 1 August 2021
Unrealised gains/(losses)
At 31 July 2022
Net gains/(losses)
Analysis of investments (Group)
Fair value carried forward
Historical cost		 Group
2022
2021
£
£
719,486
612,095
(37,131)
107,391
682,355
719,486
(37,131)
107,391
Designated
Restricted
£
£
580,847
101,508
569,723
98,983		 School
2022
2021
£
£
719,488
612,097
(37,131)
107,391
682,357
719,488
(37,131)
107,391
Total
Total
2022
2021
£
£
682,355
719,486
668,706
668,706

28

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

16 INVESTMENTS (continued)

Investment in subsidiaries

The School held investments in the following company during the year:

Offterm Limited Company number 02753013
Registered in England and Wales % of share capital owned 100%
Offterm Limited
2022 2021
£ £
Summary trading results:
Turnover 34,659 5,746
Administrative expenses (9,121) (22,977)
Net profit/(loss) 25,538 (17,231)
Summary balance sheet:
Fixed assets - -
Current assets 35,603 6,484
Creditors falling due within one year (7,541) (3,960)
Net assets 28,062 2,524
Aggregate share capital and reserves 28,062 2,524
Contribution by parent company
The parent charity contribution to the results for the year is as follows:
Income 8,569,591 8,345,490
Expenditure (8,448,735) (7,966,665)
Net income/(expenditure) for the year 120,856 378,825

17 DEBTORS

Fee debtors
Amounts due from subsidiaries
Prepayments and accrued income
Other debtors		 Group
2022
2021
£
£
60,355
74,706
-
-
129,528
74,609
4,675
1,293
194,558
150,608		 School
2022
2021
£
£
59,051
74,520
6,581
3,000
129,528
74,609
4,675
1,293
199,835
153,422

29

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

18 CREDITORS

Trade creditors
Other creditors
Accruals
Tax and social security
Fees in advance
Deposit
Finance leases		 Group
2022
2021
£
£
157,032
770
158,297
198,737
71,823
79,799
115,578
-
171,996
248,412
184,426
135,750
92,769
65,814
951,921
729,282		 School
2022
2021
£
£
157,032
770
158,297
198,737
70,863
78,839
115,578
-
171,996
248,412
184,426
135,750
92,769
65,814
950,961
728,322

Fees in advance due within one year relate to the advanced payment of autumn term fees for the next accounting period.

19 CREDITORS: due after one year

Pensions Trust’s Growth Plan (see note 21)
Pupil deposits
Finance leases		 Group
2022
2021
£
£
8,468
57,278
646,535
629,785
125,552
103,687
780,555
790,750		 School
2022
2021
£
£
8,468
57,278
646,535
629,785
125,552
103,687
780,555
790,750

20 CAPITAL COMMITMENTS

At the balance sheet date the school had capital commitments in respect of various capital projects. The total capital commitments as at 31 July 2022 was £159,382

21 PENSION COMMITMENTS

The School left The Teachers Pension Scheme in August 2020.

The School entered into a new Aviva pension scheme during the year.

The pension charge for the year includes contributions payable to the Aviva Pension scheme of £450,531 (2021: £402,016) and at the year-end £109,942 (2021 - £nil) was accrued in respect of contributions to this scheme.

30

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

21 PENSION COMMITMENTS (continued)

Pensions Trust's Growth Plan

The school participates in the scheme, a multi-employer scheme which provides benefits to some 950 nonassociated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the school to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out as at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions From 1 April 2022 to 31 January 2025: £3,312,000 per annum (payable monthly)

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed below. The unwinding of the discount rate is recognised as a finance cost.

Assumptions

Assumptions
31% July 2022 % per 31% July 2021 % per 31% July 2020 % per
annum annum annum
Rate of discount 3.15 0.57 0.60

In accordance with FRS 102 the net present value of this agreed deficit funding arrangement is recognised within creditors in the financial statements. During the year deficit payments of £15,868 (2021: £20,392) were made, and contributions of £97,191 (2021: £98,844) were made to the plan. At the balance sheet date the deficit reduction plan liability was £14,479 (2021: £78,282) and £nil (2020: £nil) was prepaid in respect of overpaid pension scheme costs. Re-measurement of the scheme totalling £45,126 (2021: £nil) was made during the year.

31

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

21 PENSION COMMITMENTS (continued)

The school has been notified by The Pensions Trust of the estimated employer debt on withdrawal from the Plan based on the financial position of the Plan as at 30 September 2016. As of this date the estimated employer debt for the school was £473,622 (also disclosed in the 2016 accounts). This is the latest information available to the school at the time of approving these financial statements.

Provision has been made for the value of The Recovery Plan agreed deficit contributions in the accounts.

The school also contributes to defined contribution schemes on behalf of its other staff. Employer contributions payable to these schemes were £37,853 (2021: £36,456) and at the year end £nil (2021: £nil) was accrued in respect of contributions due to these schemes.

22 SHARE CAPITAL AND CONTROL

The charity is limited by guarantee and does not have any share capital. In the event of a winding up each member guarantees to contribute an amount of no more than £1.

23 SUMMARY OF FUND MOVEMENTS

Group fund movement

Unrestricted funds
Designated funds:
Scholarship Fund
General reserves
(including discontinued
operations)
Restricted funds
Ida Earp Music Fund
Total funds		 Balance at
1 August
2021
Income
Expenditure
Transfer
Gains/
(losses)
Balance at
31 July
2022
£
£
£
£
£
£
1,074,557
21,981
(21,981)
-
(31,607)
1,042,950
1,074,557
21,981
(21,981)
-
(31,607)
1,042,950
8,709,809
8,582,270
(8,444,441)
-
45,696
8,893,334
9,784,366
8,604,251
(8,466,422)
-
14,089
9,936,284
117,497
-
-
-
(5,524)
111,973
117,497
-
-
-
(5,524)
111,973
9,901,863
8,604,251
(8,466,422)
-
8,565
10,048,257

32

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

23 SUMMARY OF FUND MOVEMENTS (continued)

School fund movement

Unrestricted funds
Designated funds:
Scholarship Fund
General reserves
(including discontinued
operations)
Restricted funds
Ida Earp Music Fund
Total funds		 Balance at
1 August
2021
Income
Expenditure
Transfer
Gains/
(losses)
Balance at
31 July
2022
£
£
£
£
£
£
1,074,557
21,981
(21,981)
-
(31,607)
1,042,950
1,074,557
21,981
(21,981)
-
(31,607)
1,042,950
8,707,287
8,556,132
(8,443,841)
-
45,696
8,865,274
9,781,844
8,578,113
(8,465,822)
-
14,089
9,908,224
117,497
-
-
-
(5,524)
111,973
117,497
-
-
-
(5,524)
111,973
9,899,341
8,578,113
(8,465,822)
-
8,565
10,020,197

Unrestricted funds

The Old Girls' Bursary Fund was established by the School from a donation to the School following the closure of the OGA Bursary Fund.

The Scholarship Fund has been established from allocations by Governors from Unrestricted Funds. The Fund is used for scholarships and awards to pupils at the school.

The free reserves are retained as necessary to cover working capital.

Restricted funds

The Ida Earp Music Fund was bequeathed with the restriction that it should be used for the scholarship of music at the school. Although its use is entirely at the Governors' discretion they have currently adopted a policy to award an amount equal to the annual income of the fund to provide music scholarships.

Specific resources are held in the appropriate form to enable each fund to be applied in accordance with the restrictions applied.

33

BURGESS HILL SCHOOL FOR GIRLS COMPANY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

24 ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONSOLIDATED)

Fund balances at 31 July 2022 are
represented by:
Fixed assets
Current assets
Creditors: amounts falling due within
one year
Creditors: amounts falling due over
one year
Fund balances at 31 July 2021 are
represented by:
Fixed assets
Current assets
Creditors: amounts falling due within
one year
Creditors: amounts falling due over
one year		 Unrestricted
funds
£
9,787,174
838,636
(951,921)
(780,555)
8,,893,334
Unrestricted
funds
£
8,027,000
2,202,841
(729,282)
(790,750)
8,709,809		 Designated
funds
£
580,847
462,103
-
-
1,042,950
Designated
funds
£
611,842
462,715
-
-
1,074,557		 Restricted
funds
£
101,508
10,465
-
-
111,973
Restricted
funds
£
107,644
9,853
-
-
117,497		 2022
Total
£
10,469,529
1,311,204
(951,921)
(780,555)
10,048,257
2021
Total
£
8,746,486
2,675,409
(729,282)
(790,750)
9,901,863

25 RELATED PARTY TRANSACTIONS

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.

34