Charity re91Stration number 307034 Company reglstratlon nurnber 902869 {EDgland and TN4les} WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) LEGALAND ADMINISTRATIVE INFORMATION Trust•o8 Mis D J Alun-Jones MA W Bdch&r 8A JAB Bruce 8Sc FCA Miss L K Hamblett MA RAJHill Mrs K Hogan 8A J A P8ssam BA MBA J H L Patrlck MVQ Bsc Ichairrnan from 8 July 20221 Mrs S L Morison BA CSRIXMA W J Griffiths Bsc A-C StroMeyer-Saab8 Msc Sg¢r•tory G P Falconer Ch•rlty number 307034 Company number 902869 Prlnclpal address Westtx)ume House School Coach Road Shopwyke Chichestsr West Sussex P020 28H RegistDr•d offic• WestboLJme House Sehool Coach Road Shopwyke Chichester West SusseK P020 2BH Audltor Jones Avens Lirniled Piper House 4 Dukes Court ognof Road Chich&ster West Sussex P019 8FX 8ank*rs National Westrninsler 88nk PIC 5 East street Chichester West Sussex P019 1HH Investment advisors Ralhbone Brothgrs PIC 8 Finsbury Clrcus London EC2M 7AZ
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) CONTENTS Pag• Trustees. report ststemÈni of Trustees. re5ponsiblitses Independent auditorfs report 7-10 Statement of financial acllvilias 11 8alan(x sheet 12 Statement of cash flows 13 Notes lo the financial stat8m8nts 14-28
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST 2022 The Trusttras prn1 their annual report and financial statements for the ygar 9nded 31 August 2022. The financlal statemènts have been prepared In aordanCe unth the accounting P(AleS sèt out in note 1 to the financial statements and comply with the Trust's goveming do¢urnent, the Companie5 Act 2006 and "Accounting anfl Reporting by Charities.. Statement of Recommènded Practice applicaNe to charities preparing their accounts ID accord8nce with the Finanaal Reporting Standard applicable in the UK and Reput4ic of Iland IFRS 1021 leffeclive 1 January 20191". Objgctiv•s And activities Thè aim of the School is to stimulate and encourage children lo m8Mise their potential in mind, body and Spirft through a broad and varied curriculum. The School wishes to provide this quality of edLJcation Iw an ever wider range ol children whll¢ at the same time belng a responsibl8 employer and an integral member of the locAI community. The Tfustees arè fully Committed to op8t#ts"ng the S¢hfY)l in thè spirit ol th8 Charitle5 Act 2011 and for the public benefit in its broadgst sense. They bdiev6 the benefits of the charity to the puplls of the School are dear and soma ol their a¢hievèm8nts are menliongd below as arg the staps the Trustgas ar& taking to widen awss to tha ¢haflty's benefits by rnaking both laclilie5 and the provision of education ilsdf 8v8ilable to greater numbors ol childrgn. The Trustees reix)gnisè, however. that 8 balance musl be struck between offering fr88 or reduced-lee places and maintaining Suffient Incorne to Sustain the financial health ol th6 charity. The School worf¢s hard lo m3inlain links with local communily schools, mainly by sharing sports f8cilities and is very open lo involvement in other ways. The Trustees are atAe to Confirm that all of the expendilure detailed in Ihe8e accounts was Used in furtherance of the Twst's objeclives. In furtherance of the Tnjst's objectives, the Trustees h8v8 pursued a policy of fjon&"nuous improvement in both fac11ities and te8¢hiTrg practices. During the year. this prograrnme Included the renovation ol the Dining Room, rgfurbishmenl of the Boarders, Comrnon Room and several sitè 8nhancemenls induding fencing and lighting. The Schod continued to work towards greaer energy efficiency, Including an ongoing swltch frorn standard lighting to the more effi¢ignt LED variants. Prevantative maintenancè continued on th8 Main House. The Tnjsl constanlly monllors trend5 and dèvèlopments in educa0 and where these have proved advantsgeous they have been adopted. In funding improvements il has always been the policy to generaie suff1cient surFduses to fund the costs of devdopments. Ther8 has been no change In these policies dunng Ihe year. Th8 Twstees have paid due regard to guidanc* issued by tha CharKy Commission in dociding what activities th6 Tru51 should undertake. Strate9ie r•port The d8scriplion under the headings 'Achievemonts and perfomanee" and "Financial revie meet the cornpany law quirementS lor the Trustees to Pfesent a slryategic report.
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST 2022 AchÉevements and perfomlance The primary ¢haritable activity of the Trust during the year has been the edUtn of the {on average) 375 chldren al Westboume House School. Overall pupil numbers increased stèadily during the year, with 3 net gain of 18 pupils. AJthough numbers continue to reflect the general ptem of move8 from London. this has OWed slighly. However, there appears to bè a trand whereby the bigger prep Scho$. such as Westboume House, are becoming MO attractive as Ihey are simply better sourced with more opportunilies. On the oversèas front. Ihere is a steady uptake from Asia and good numbers from sp81. The School has a good rang8 of agents and contscts lo fttKIl the overseas target of 2(k25 puplls for 22123. At the end of the year. all 43 pupils in Year 8 passed the Scholarship or Comnon Entran exarnination to gain places at senior school. Eighte8n pupds won a totsl of 21 awards from their senior school in recognition of their ability and p(Itenti31. On th& sports field. sch?1 teams and individuds again enjoyed considerable Success. both locally and more widely, with several pupils competing al distrcl, county and national level. Many more saw their achievements recognised in a wide ranga of sporting and cultural actiwties. The balanced curriculum indudes a structured programme of Outdoor Education and Leadership in Years 3 to 8 wrth tailorèd on-site aetivtbes and expeditions. Despite the residual effects of the Pandem, pupils were stiN able to conduct an abridged series of residential trips throughout the South of England. Yèar 8 were able to conduct a stimulating prograrnme of activities after their final examinations. Unfortunatsly, overseas sports and academic tours were still on hold due to the Pandemic, however, the thoir had a very successful trip to Edinburgh over the Easter Break. During the ytrar, 76 children received assistance from the School in the form of s¢hol8rships or bursaries while a futher 23 children paid discounted fees. Eight children benefited from bursaries worth 7&100% of the fees. including two Ukrainian children who joined the School fdlowing the Russian invasion of their county. The Trusteès et>nkn"nuèd their Oi¢y of wdening access to the School by adverti%ing further substanlial awards. These are considerable achi8V8m8nts and support the Senior Management and Trustees, aim of maximising pupl's potential in all g8rd$. School and Community The Schocl seeks to promote a family atmosphere within its community and enjoys an 8xcèllenl relnShIp with its employee& Staff turnover remains low,. few teachers leave <)ther than on promotion or retirerrent and there is a good record of Internal Promotion. The School maintains a (Jose relationship with parents and with fomi&r puplls and continues lo strengthen its tiès the Old Westboumian community. Westtoume House is very nSCIouS and proud ol its place in the wder community. During 2021-22, the sports facilitr?5 were fully booked by local dubs and teams, induding badminton, football, Tugby, (Y¢ket and swimming. In some cases, a ¢h8rge is made to defray a proportion of running expenses, but each week the School prowdes recreab.onal opportunities lo hund$ of peoFle from the 10(xl area. The Millennium Hall conts'nues to be popular venue for festivals of music, drama and dance as well as fund-raising events for charities and the Schocl looks fowrd to playing a greater role in the ujltural lrfe of Chichaster. Thé h of fadi15 for tharitatje and n(Fraislng activities is generydlly free, or at a grealy rertu rate. Pupils. parents and stsff again organised a wide variety of fundraising actNitses for this ye8rfs School's ¢haritie$, induding the Chichesl8r Downs Syndrome Support Group, Team Unlimbitèd, Sausagg Tree Charity and the S¢hod's own Bursary Fund. The School continues to fund raisè and has amassed suffiryent funds over 4 years to donate £49,851 to good causes. Westboume Housè ¢ontributes signfficantty to the local economy. Its emrAoyeÈs predominandy live in the Chichester Dtstrict and the School has a policy of purchasing g(ths and semces locally wherever possible.
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUAFIANTEE) TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022 Flnancial r¢vigW The operating acbvits'es of the Trust generated an income of £6.036 million and this resulted in a surplLts on unfeslri¢ted funds of £355,214. Tlertr was an increase in operaling income of £911.267 relative l018St year. T¢)tal balances held wilh National Westminsier Bank and the Nab"onwide Building Sooety 8t 31 August 2022 wtsre t2.254,961, with a further £1,426,727 held in Invèstments with Rathbones. The Twst mad8 an investment loss during the p$riod of £130,275. The Trust rem8ins in a healthy financial position, which will enable it to maintain its ongoing programme of capital 8xpenditure. Total reserves al the balance sh88t date are £13,049,83712021 £12,689,148), of which £12,945,999 12021 £12,590,785) are unrestricted and £103,83812021- £98,3631 arp restricted. It is the pollcy of the charity that free ServeS should ba maintained at a18v818quivalent to at least three month's expenditure. The Trustees consider that reserves al this level wll ensure that. in the event ol a significant drop in funding. they will be able to continue the charty's current activitias whilst consideralion is given lo way5 in which additional funds may bè raised. As at 31 August 2022 free reserves stood al £2.489 million representing the charity's unrèstricled funds18SS tangible fixed ass8ts1£10,457.1451. The day lo day finances of the chadty are man8ggd by the Bursar and the Budget Manag¢r. The Bursar report5 rggularfy lo the Financa Committee. BudgelirvJ and careful control of expenditure ar8 key policies for the charity, The charity'5 principal funds are generated from fees charged to parents Df pupils. 1 expenditure In thè year, other than govem8n¢e costs, has been in¢urred spocifically to meet the charity's key objective of edv¢8ting ¢hldTeTr up lo the age of 13. The Trustees consider that the markat value of the land and bulldings substantlally exceeds the book value of £9.993 million. Rlsk revlew The major risks to which the ch8rity IS 9xposed, as idenlifiad by the Tru5tee$, have been reviewed and systems andlor d8f8nc85 have been estatrAished, recorded in a comprehensive Risk Register, to man8ge those risks wherever possible. Among thos9 risks the most slgnthcanl are con5id8rod to be.. - An adverse change in the legis181ivè regirne under whl¢h independenl schods operate. - A s@nificanl downtum in the local or nalK)nal economy. - A tr8lor criminal incident which causes closure of the School andlor severe loss of wnfidenc8 by parents. - A major accident whSch causes partial or CriMete closure of the School.
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST 2022 Plans for the future Westbourne House plans to strengihen ils position in the Preparètory sch?1 sector by emptoying SLth(ienl te8ching staff of the right calibre and expertise to inspire our pupils and by Ènsuring a high stsndard of facilities through continuous upkeep of the buildings and grounds. Our objedives are set out on P8ge 1. Our cx)mmitFnenl to the broader community through charity fvndTaising will continue. A poOn of our fvndraising will be us8d to 5UPPOrt the Bursary which the trustees see as being an Important aspect of vAdenlng a¢¢ess to the School. Structure, governance and management The Trust is a registered charity and 8 cofTbPanY inixirpordled under the Cornpanies Acts 1985 to 2006. limited by guarantee. The Trusvs goveming docLJmeFIt is its Mernorandum and Arttdes of Assocjation. The Trust's objects ala to providè high quality education for children up to the age of 13 years. through the medium ot Westboume House School, and to prepare children for entry to Public and State sthods. The Trustees, who are also the d1ClorS for the purpose of company law, and who sgrved during the year 8nd up tD the dale of signature of the finanual 5tatetll8nts were.. Mrs D J AJun-Jones MA N P Backhouse MA FCA W Belcher BA JA B Bruce Bsc FCA Miss L K Hamblett MA RAJHIll rs K Hogan BA C M Keville (Chairman until 8 July 20221 JA Passam BAMBA J H L Patrick MVO Bsc {Chairman from 8 July 20221 Mrs S Lmorison BA CSRIXMA W J Griffiths Bsc A-C Stromeyer&llaba MSC (Resigned 8 July 20221 (Resigned 8 Juty 20221 (Appointed 3 December 20211 (Appointed 7 September 20221 (Appointed 7 September 20221 None of th8 Trusl8es has any beneficial interest in the company. Ail of ths Tru5t8e5 arg m?rnbgrs of the company and 9warantee to u)ntribute £1 in the event of a winding up. The Twstees desire that the Board should r8prèsent a wde spéctrum of appropriate interest and experience including business and adminlstration, education. the law, the arts and. especially. a strong feeling for the Schod and its aims. Most ol the Trustees have had Children at the School, and it is the pc4icy that onè or two trustees should be current parents. Trustees may be nominated by anyone connected wrth the School and nominations Br& eonsidered by a small cornmittee ol Trustees who tske soundings from interested parties. indudiftg the Headmaster. before recomrnending a name to the full board. The induction and training of new trustees Is In five ovedapping phases.. a detailed introduction to th¢ Schod by the He8dmasler, menioring by the Chaiman of Govemors and by the chalmen of cotnmitrtres in their respeGtive areas. frequent visits to the School and regular conlact via newsletters etc, attendance at events organised by training bodies, and seK-study of training materias. In the very rt Educational QUlty wth Focused Compjiance Inspection conducted by the Independent Schoots. Inspeclorate, which t(M)k F4ace at time of writing. the School was f(xJnd to meet or ttxceed the necessary stsndards. The Trust is governed by a Board of Trustees (Govemorsl who determine the pc4icy and strategies of the Sthool. The Bts8rd is supported by the Finance and General Purposes Committee and by the AtrAdemic and P8Stot Committee. The operational management of the School is directed by the H8adrnesler, Mr Martin Barker (chief Executive OffirI ènd the Bursar, Mr &ydon FaIner Ichief Operating & Finance Officer) who manage a tota of 67 teaching staff and 69 SUPPDrt non-teaching stsff, both fvll and part time.
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST 2022 Rgmuneralion is sel by the Board, with the policy obiedive of ensuring appropriate incentives 10 8neour898 enhanced performance and in 8 fair and responsible manner. rewarding for individual ¢ontributions lo the Schod's succ95s. The appropriatene55 and relgvance of the r8munèration pdicy is revi8W8d regularly induding reference to comparisons other independent schools to ensure thet Westboume House remains sensitive lo thè broader issues of pay and employment conditions elsewhere. We 8im lo rècruit, subject lo expariènca, at a positlon within a pay band in order to be ate to reward staff for excellence. Delwery of the Company's charitable vision ané purpose is prim8ri1y dependent on our key management personng18nd staff costs are the largast single dement ol our charitsble expenditure. The are no restri¢tions on the investrnent powers of the Trustees. The current str81e9y is focused on long term capilal growth with Rathbones on a Risk 5 Investment Strategy lon a scale 011 to 61. The investment horizon is long term, with an objective of CPI + 4D/o per annum. The Trustees keep the performance of inveslments under regular 18vi8w In ordar lo manage and maximise return. Ass•t covor for funds Nolo 24 sets out an analysis of the 8ss8ts attributable lo th8 varioLts fvnds and a de%ripllon of Ihe Trusts. These assets are sufficient to meet the charity's obligations on a fund by fund basis. Auditor In accordance with the company's artides, a resolution proposing tttat Jones Avens Limited be reappoinled 88 auditor of Ihg company will be pul al a G8nera Meeting. Dlsclosur• of Informatlon to audltor Each of Ihe Trust88s has confirrned that there is no informab.on of whidi they are aware which is relevant io Ihg audlt, but of which the auditor is unsware. They have further confirmed that they have takèn appropriate steps to identify such relevant information and to eslatAish ihat the auditor És awar8 ol such informatK)n. The Trustees, report, induding tre strategic report, W88 approved by the Board of Truslees. J H L Patrlck MVO Bse {ChaSrmanl Trustee
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2022 The Trustees. who ar8 also the directors ot Westbourne House Sthoot Educational Trust Limited for the purpose ol company law, are responsible for preparin9 the Trustees, Report and the financia slalements in 2¢¢ordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounb"ng Practico}. Company Law requires the Trustees to prepare financial st*ements for each finanual year which give 8 tnje and fair view of Ihe state of affairs of the Trust and of the incoming resour¢es and 8pplicatKtyn of resoufces, induding the Inrome and expenditure, ofthe charitable ctsmpany for that year. In preparing these financial statements, th8 Trusts85 are required to: - select suit3b18 aeeounlng Oicies and then apF4y them o)nsstendy'. - obseNe the m8thods and principies in the Charities SORP.. - makejud9ements and estirnates that are reasonable and prudent.. Stale whether applicatle UK Accounting Standards hava beèn followad, subig¢t to any rnaterial dgparturgs isclosed and explained in the financial statements- and prepare Ihe financial statements on the going concern basis unle55 It is inappropriate to [urne that the Trust wlll continue in operatson. The Trustees a responsible for keeping adequate accounting records that disdose with rea5able accuracy al atry time the finanaal position of the Trust and Ènable them to ensure that the financial Statements comply with the Corrpanies Act 2006. They ar¢ also resporS8 for fegUarding the assets of the Trust and hence for taking reaSonae steps forthe prevention and detertDn of fraud and other irregularities.
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED Opillion We have audited the fin8nci81 statements of Westbourne House School Education81 Trust Limited lthe 'Trusl'l for the year ended 31 August 2022 which comprise the statement ol financial activities, thè balance sheet, the 518lement of cash flows and notes to the financial statements. indudino significant awounling policies. The financial reporting framework that has be8n appllèd In tlf preparation is appllcabl& law and United ¥thngdom Accounting Stsnd8rds, induding Financial Reporting Standard 102 The Fin&ncial Reporting St8nd8rd applicable in the UK and Republic of Iland (United Kingdorn Generally Accepted Accounting Practic&l. In our opinion, the financial statements.. gNe a true and fair view of the stale of the ¢h8ritÈble company's affairs 88 at 31 August 2022 and of its incoming resources and applictttion of resources, induding its income and expenditur$, for the year then end8d., have been properly prgparod in accordance with United Kingdom Generally Accepted Accounting PractlCE', and have been preparod in accordance with ths rgquirements of the Companies Act 2006. Ba$1$ for oplnlon W8 conducted our audit in aeeordanc8 with InlgmationBI Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibiliiies under Ihose standards are further described in the Auditors $onsIbl11'eS for th8 8udrf of thg financi81 slalemenls section of our report. We are independent of the Trust in acwidanc8 wilh the ethical requirements th8t are relevant to our aud6t of the ftnancial 518tements in the UK, induding the FRC'S Ethical Standard, and we have fulfilled our tslhsr &thical responsibiliti$s in accordance with thesè rèquirements. We bdieve that the audit evidenrE we have obtained 15 5ulncienl and appropriate to provld& a b&sls IOT our opinion. Concluslons relating to going concern In auditing the flnanclal stateTnen15, W8 hawe concluded that the Trustees, use of the g(>lng concern basls of accounting in the preparation of the financial statements is appropnato. Based on the work we have performed, we have not idenlified any rnaterial uncertainties relating to events or conditions that, individually or colleclwely. may cast signlfieant doubt on th8 Trust's abllity to continu8 as a going concem for a period of at le8St e1ve months from when the financial statements are authorised lor issue. Our re5ptsnsibilities and the responsibilities of the Trustees with respect to going conrn are desmbed in the rslevanl sections ol this report. othèr Infomiatlon The other information comprfses the information included in the annual raport other than the fin8nci815tatam8nls and our auditorts report thereon. The Trustees arè responsible for the other inlormation contained within the annual r8port. Our opinion on Ihe financial slalements does nol cover th8 other Information and, except lo the txtont otherwse explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility Is to read the other information and. in doing so, consitter whether the othèr information is Mat&rilY incons1Stent with the financial stslements or our knowledge obtsined in the course of the audit. or otheNise appears ID be rnalerially misstated. If we idenlrfy such matgrial inconsistgn¢iès or apparent material misstatements, we are raquired to determine whether this gives rise to a material misstatement in the financial statements themselves. 11. based on the work we have p8rfDrmed, we conclvdtr that Ihero is a material MISStaMent of Ihis other information, we are r8qulrèd to report that fad. We have nothing to report in this regard.
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST UMITED Opinions on othBr matt8r5 pr85cribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of our audit the information given in the Trustees. report for the finanaal year for which the financAal statements are prepared, which indudes the directors, report and the strategic report prepared for thè purposes of company law, is ¢onsisieni wth the financl81 statements., and the strategic report and the directors, report induded within the Twstees. report have been prepared in accordonce wrf¢h appli(xble legal requirements. Matters on whleh we are required to report by exception In the lighl of the knowledge and understanding ol the Trusi and its Èn*Tronment Dbtained in the COUTse of the audit, we have not identrfied material misstat8m8nts %n Ihe str8t8giG report or lh8 directors, reKK)rt induded wthin the Trustees. report. We have nothing lo reFQrt in respect of tha following matters in relation to which the Companies A¢t 2006 reot4iras us to repDrt to you if, in our opinion= adequate accounting records hava not béon k¢pt, or relums adequats for our audit have not been received from branches not wsited by us.. or the financial statements are not in agreement wrth the accounting rectsrds and rètums- or (Ertain disdosures of trustees, remuneration specified by law are not made.. or we have not received all the information and explanations we require for our audiL Responsibilities of Trustees As explained more fijlly in the statement of Trustees, SponsIbl11"es. the TNstees, who are 81$0 the directors of the Trust for the purpose of company law, arè responsible for the preparati of the financia statements and for being satisfied that they give a true and fair view. and for such intemal control a5 the Trustse5 delemiine is necessary to enable the preparation of financial ststements th81 are free from material misstatement. whether due to fraud or error. In pparing the finanThal ststements, the Trustee6 are responsible for assessing the Tnjst's ability to continue as a going concem, disdosing. as applicable. matters related lo going COnM and using the going concern basis of accounting unless the Trustees etlh8r intend to liquidats the charitable company or to ase operations. or have no redisÈc altemative bLrt to do so. Auditorfs responsibileS for the audlt of the finanelal ststements Our objectives are to obtain reasonable assurance about whether the fjnaneial ststèments ag a wh(48 are fre8 from maieriat misstatement, whethèr due to fraud or error. and to issue an aydilorfs report that indudes our opinion. ReasOnae assurance is a high 18vd of assurance but is not a guarantee that an audit conducted in accordance wlth ISAS IUKI will alway5 detect a material misstatement when it eSts. Misstatements can arise f(om fraud or error and are wnsidered material if, individually or in tha aggr89ate, they rould reasonatAy be expected to irffiuen( Ihe economic decisions of users taken on the basis of these finaneial statements.
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST UMITED Identifi¢atign and assessment of irregularities including fraud IrregularltiÈS, SnclLJding fraud, are instances of non-compliance with laws and regulations. Wt designed prOcedLJs in line with our responsibilities, outlined 8bove, to detect material misstalements in respect of irregularities, including fraud. The extent to vthlcl) our procedures w8re Capable of detecting irregularities, including fraud is detailed bdow.. we fSed on specific laws and regulalions whith we con5ideied may have a direct mateiial effect on the financial statements or the operations of the association, induding The Companies Act 2006. W8 obtained an understsndlNJ of the legal and r8gulAtory framework applicable to the entity and how th8 entity ig complwng with that framework by Maki appropriate enquiries of management as well as consldering the intemal controls in place to mitlgate rlsks ol fraud and non-eompliance with laws and regulabons.. we mada Snquiries of th058 charged wth governance and management concgming.. the fisks of fraud., inslances of non-compliance with laws and regulatioris or knedge of actual, suspected, or allsgad fraud is docurn8nt8d during the p8rK)d.. we 1¢Xated an 8ng8gement team that wè considered ccAlectivèly had ihe appropriate competence and capabilities lo identify or recognise non&compliance with laws and regulations. Audlt response to the rlsk of lff•gul?rltles Indudlng fraud B8sed on tt)e results of our risk assessment. OUT procedures induded, but wor$ not limited to., pÈrfom)ing analyiic81 pro¢edures to identify any unusLtal or unexp8cled relationships. evdualing wh8lhèr the selection and applicatson of accounting policies by the enlty that may be indicative of fraudulont fin8ncAal reporting resulting from managemeni's effort to manage eamin9S. ssessing whether judgements and assumptions mad8 in deterrnining the aUntIng estimatés sel out in note 2 were Indicative of potential blas. agreeing financial staternent disclosuS to undertying supporting do¢umentalion. reading thg minutes of meetings ol Ih05a charged with governancè. reviewing the corresponden¢$ v4ith rdevanl regulatory fjodies. testing of journal entries to address the risk of fraud throu9h management override. incorporating an g18ment of unpredictsbdity in the sdection of the nature, timing. 8nd èxtent of our avdit procedures. corrobor8tin9 the business r8tionèle for transacts'on$ OLJtside the normal vr$0 of business. Conclusions regarding thè rlsks of irregularities Including fraud Thei6 are inherent Ilrnit8tions In our audit procèdures described above. The more remov8d that laws and regu18tions are Irorn financial transactions, the less likely it is that we would become awa of non-compli8nee. M8t8rial missiatement5 that arise dug to fraud ¢an b8 harder to deted than th08e that 8rise frow error as they may invVe deliberate concealment or collusion. We coTrsid6red our audit was capable of detecling irregulaftties due to.. effectiveness of the entity's internal controL8', the nature, timing and extent of audit procedures perforrned.. and the absence of contradictory evid8nce.
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST UMITED A further description of our responsibilitiès i% availabl& on the Financial Reporting Council's website at.. https'.11 wvJw.frc.org.uklauditorswponsibilities. This description foms part ol our auditorfs reporL Use of our report This report is made solely to the charilabje company's members. as a body, in accordance Chapier 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we rnight state to the i*aNtsble cornpanI5 members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fLdlest extent pemrtted by law, we do not accept OT assume responsibility to anyone other than the charitable mpany and the chafitsble company's members as a body. for our audit ¥4ork, for this report. or for the opinions we have f01rn. Claire Norwood BS¢ FCAATII (Senior Statutory Audhor) for and on bèhalf of Jone$ Aven5 Limitod Chartered Accountants Stotutory Auditor Piper House 4 Dukes Court Bognor Road Chichestèr West SLtssex P019 8FX 10-
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022 Unrestricted Restricted lunds funds 2022 2022 Total Unrestrieted Restricted funds funds 2021 2021 Totsl 2022 2021 Notes In¢orne and endowments fro Donations and legacies Choritable activities Investments Other income 542 5,943,495 33,748 80,347 11.363 11,905 5,943,495 33,748 80,347 548 4,%7,307 15,964 155,407 1,218 1,766 4,967,3D7 15,964 155.407 Total income 6,058,132 11,363 6,069.495 5,139,226 1,218 5,140,444 ènditure on.. Raising funds 9,863 9,863 7,962 7,962 Charitable activities 5,562,780 5,888 5,568,668 5,137,588 1,434 5,139,022 Total &xpgnditure 5,572,643 5.888 5,578,531 5.145,550 1,434 5.146,984 Net gainslllossesl o invostments 13 1130,2751 1130,2751 193,610 193,610 Nèt incoming reBour¢oS b•for• transfers 355,214 5,475 360,689 187,286 121fj1 187,070 Gross translers b8lween fund5 15 1,000 11,0001 Net movement in funds 355,214 5,475 360.689 188,286 11,2161 187,070 Fund balances al 1 Septgmber 2021 12,590,785 98.363 12,689,148 12.402,499 99,579 12,502,078 Fund balane8s at 31 August 2022 12,945,999 103,838 13,049.837 12,590,785 98,363 12,689,148 The slatemènt of fftnanclal activrties includès all gains and losses 18cognised in the year. AJI income and expenditure derive from continuing activilies. The s1ot&m8nt ol financial a¢tivitias also comleS with the requirernents lor an inwme and èxpendilure account under the Comp8nles Act 2006.
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) BALANCE SHEET ASAT31 AUGUST2022 2022 2021 Notes Flxed assets Tangible assets Investrnents 16 17 10,457,145 1.426,727 10,506,626 1,284.302 11.883,872 11.790,928 Current as$ets Debtors Cash at bank and in hand 19 292,005 2,256,314 274,805 1,711,202 2.548.319 1,986.007 Creditor¥: amounts fallin9 due within onè ygar 20 11,357,354) 11.087.787) Net current assets 1.190,965 898,220 Totsl assets less current liabiltties 13.074.837 12,689,148 Provisions for liabilitie$ 21 125,OC()I Net assets 13,049,837 12,689,148 Income funds Restricted funds Unrestrictod funds General unr8strict8d funds Revaluation reserve 103,838 98,363 12,902,122 43.877 12,389,307 201.478 TO1 unrestricted funds 12,945,999 12.590,785 13,049,837 12,689.148 Thea Is were approved by thg Trustees on .. J H L Patrick MVO Bsc (Ch8irmanl Trustee Company Registration N 902869 12-
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE> STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022 2022 2021 Notè$ Cash flows from operatlng actlvltle¥ Cash generated from operation6 28 876,442 435,733 Invtstlng activities Purchase of tangiblè fixad assets Purchase ol other investments Proc88ds on disposal of other investments D1vidgnds and inleTest r8ceiwd 192,3781 1430,2901 137.853 33,748 1196,168} 11,004.3711 246,814 15,964 N•t cash used in in¥tIng activitie$ 1351,0671 1937,7611 Ngt eash used in fin¥ffteing actlvities Nèt Incr•asolld¢¢r•as•l In cash and cash gquivalonts 525.375 1502,0281 Cash and cash gquivalenls al beginning of year 1,743,654 2.245,682 Cash and ¢ash •quivalonts at gnd ot yaar 2,269,029 1,743,654 Rdating to.. Cash and Bank balances Cash In Investrnent portfollo 2,256,314 12,71S 1,711,202 32,452 2,269.029 1,743,654 13-
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Accounting policiès Charity inVomJation Westboume Housè School EdutIonal Tnjsl Limited is a private company limited by glrantee incorporated in England and Wales. The registered office is WestboLtme HOle School, Coach Road. Shopwyke, Chich8St8r, West Sussex. P020 2BH. 1.1 Accounting convention The finanu31 statements have be8n prep8r8d in accordance wth the Trust's goveming doojment, the Cornpanies Act 2006 and "Accounting and Reporbng by Charilies.. Stalemenl of Recommended Practice pICable lo ChareS preparing their accounts in accordance with the Financial Reporting Standard apF41Cae in the UK and Reputlic of Irdand (FRS 102) {effeuive l January 20191.. The Trust is a PutAic BEnEfit Entty as defined by FRS 101 The financial statements are prepared in starfing, whlth is thè (unclional currenoy of the TrusL Monelary amounts in these financial statements arè rotjnded t¢ the nearest £. Thè accounts have been prep8re(l under the h$stori1 cost conventron, modified to indude the revaluation of certain financial instwments at tsir value. The prinapal accwnting pdicies adopted are set out below. 12 Going concern At the time of approving the financial statements, th¢ Trustees have a reasonable expectation th the Trust has adequate resources to continue in operational existence for thg foreseeaiAe future. Thus the Trustees continue to adopt the gung eA)ncern basis of a¢wunling in preparing the finanaal statements. 1.3 Charitsble funds Unrestricted funds are available for use * the discretion of the Trustaes in furtherance of their tharitable objectives. Restricted fvnds 8re subject to specific conditions by donors as to how they may be used. The purposes and uses of the restrioted fvnds are sel OLrt in the notes to the finanaal statements. 1.4 Income Income. induding grants. is recognised when the Trust is legally entloed lo k after any perfomance wndllKJns have been met. the amounts can be mèasured reliably, and 4t is probable th81 InMe will be received. Cash donations are recoJnised on receipt. Other donaoons are r6cognised oncè Iha Tnjsl has beèn n¢)bfied of thè donation, unbss perf0rrnan conditions Quire ¢Jeferml of the amount. Income tax reeoverable in relation to donations received under GiftAid or deeds of covenant 15 r8ix)9nised at the 'me of the donation. Legaoes are ean[Sed on receipt or otherwise rf the Trust has been nolffied of an impending distribution, the amount is known, and receipt &% expected. 11 the 8mlYJllt is not known. Ihe18gacy is treated as a conts'ngent sset. Induded in other ino)me are reCoVeraeS which are shown net of expenditure. These are shown net because they are smaEI amotjnts Spent which are recoverat4e from the pupls and are induded on the bills sent to parents. 14-
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Accounting polScig8 (Continued) 1.5 Exp•ndiWro Llabllitles are iecognised when they are incurred and the costs are debited to the Statement Of Financial Activities in full in the year in which they relate to. Eduealion equipment and materials and sports and games equipment incurre(J in June, July and August are treated as prepaid and are therefore debited to the Statement Of Financial Acbvilies in the following financial year. Charrtable actlvitles expenditur8 consists of provKlillg education whiGh is split betrNeen activrties undertaken direclly, grant Ivnding ol activities, SUPPOrt costs and govemance costs. Activities undertaken directly includes the gross salary. ernployerfs Nl and emrAoyeffs pension ol the teaching staff, the depr8ciation of the cornput8r eouipmenl, educalion equipment and materials, sport and g8mes èquipment, educational visits and 8Ctivities and provisions. Support costs indudes 811 the other costs incurred exp1 audit and 8ccountancy lees which are induded in Governance Costs. 1.6 Tan9ibl• fix•d assets Tangible fixed assets other Ihan fre8hdd land are slated at cost nel Df depreciation and any impairment 10558S. Depreuation is recognised so as to write off the cost or valuation of assets less their residual values over IheSr useful lives on the following bases.. Freehdd land an(J buildings LÈaseh(Ad property ant and rnathinery Fixtvras, fittings & equipment Computers Motor vghic18S 15 years 150 year5 Straight line 25Yo Reducin9 balance I IOYts 51raight linè 10¢/0 Reducing b818nce 10°k- 250/y Straight line 25% Reduc¢ng balance No depredation is prowded on freehold buildings on the grounds that it would be immaterial as the buildings have an 85[nated long rern8ining useftl life and hlgh residual valu8. The gain or loss arising on the disposal of an 85set 15 determined a5 the difference between the sale Proceeds and th8 carrying value ol the a55Et, and is recognised in the statement of financial activiti95. 1.7 Fixed assot Invosim•nts Flxed asset investments are Initially méasured at Iran53dlon price exduding transactK*n c0515. and are subsequently me8surtrd at fair value at èach reporting date. Changes in fair v8lu8 are rgcognisgd in n&t incomèllèxpendituiel lor the year. Transaction costs are expensed as incurred. 1.8 Impairmgnt of fixed asselfj At each reporting end date, lh& Trust reviews the carrying amounts of it5 t8ngible assets to detemine whether Iher8 is any illdicalion that thos8 assets have 5uffer8d an Impairment loss. If any such indication axists. the recA)verable amount of the a88el is ègiimated in order lo detemiine the extent of the impairrnent lo lif any). 1.9 Cash and ¢4$h èqulvalents Cash and ¢ash equivalents include cash in hand, deposits held al call with banks, other short-term liquid investrnents wth onginal maturrfties of three montt)s or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 15.
WEST8OURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2022 Accounting poli¢ie$ {Contlnuedl 1.10 Financial instruments The Trust has elected to apply the provisions ol Section 11 'Basic Financial Instruments, and Section 12 'Other Finanual Instruments Issues, of FRS 102 to ail of its finanaal instruments. Finanaal instruments a recognised in the Tnjsvs b81an¢e sheet when the TTUSt becomes paty to the contractual provisions of the instrument Finanaal assets and liatle$ are offset, th the net 8mounts presented in the financial statements, when there is a le9ally enforceable right to set off the cognISed amounts and tlre is an intention to settle on 8 net basis or to realise the asset and setue the liabaity simultsneously. Basic financial assets Basic financial assets. which include debtofs and cash and bank balanc&s, 8re intbally m8asuTEd at transaction price induding transaction costs and are subsequgnlly carried at arTKTrrbsed cost using the effective interest method unless the arrangement conslitule5 a financing transaction, Ythere the transaction 15 measureil 81 the presenl value of the ftJtL¢re receipts discounted at a market rate of interest. Financial assets dassified as r1vaNe within one year are not amortisetj. Baslc ffnanclal Ilabilities Basic finanaal liabilities, including creditors and bank loans are initially r&cognised at tran5achon priGE unl955 the arrangement constitutes a financing transaction, where the debt instrurnent is measured at the present vdue of the future payments discounted at a market rate of interesL Financid 1rdb1lIeS classified as payable witrin one year ar8 not amortised. Debt instrufft8nts are subseouenuy carried al amortised cost. using the effective interest rate method. Trade Credito are obligations to pay for goo(Is or services that have been acquir1 in Ihe ordinary ¢ourse tsf operations from suppliers. Amounts payable are ckssified as current liabilities if payment is due Trmthin one year or less. If not, they are presented as non-current liabilities. Trade crEditors are recognised initially at transaction Pri and subsequently measured at amortised cost using the effecb.ve interest method. Dereeognition of financial liabilities Financial liabil¢5 are derecognised when the Trust's contracEual obligations expire or are distharged or ¢8ncdl8d. 1.11 Provislons Provisions are cOgnISEd when Trust ha5 a 18gal or conslrucbve pre59nl oNigatson as a resuh ol a past event. it is probable that the Trust will be required tC> settle that obligation and a reliable estimate can be made of the amount of thè tsbligion. The amount recognised as a provision is the best estimate of the consideration required to setue the present olgatiOn at the reporting end date. tsklng Into a)Unt the risks and un¢ertainties sutr(>unding the oblig8tion. Where the efed of the time value of money is material. the amount expec to bé requirèd to setde thè 019ation is recognised at present vdue. When a provi&on ts measured at present valiEe. th8 unwinding of the discount is recognised as a financè cost in net incomèllèxp8ndi1uI in the pefio¢I in whith il arises. 1.12 Ernployee benefits Thè cost (rf any unuseil holiday enliuernenl is rewnised in the period in which the employee's service5 are received. Termination benefits are reeognised immedi8t81y 8S 8n &xpens8 when the Trust is dernonstrabiy CcMitted to terminate the employment of 8n employee or lo provide termination benefits.
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Accounting polltlès {Continuedl 1.13 Ratirnm•nt benerrtS Payments to defined contribution retirem8nt benefrt schemes are Char as an expense as Ihèy fall due. Cfltical accounting estimot•$ and ludggments In the a1¢ation of the Tnjst's accounting policies, the Trustees ara required to make judgemènts, eslirnales and assurnptions aboui the carrying amount ol assets and liabilities that are not readily apparent from other sourTrs, The ethmates and associated assumptions are based on hislorical experience and other factors that are considered lo b8 relevant. Actual results tnay dlffer from these estimates. Th8 estimates and undedwng assumptions are r8vlewed on an ongoing basis. Revisions trj accounting e5timat8s ara recognised in the pèriod in which Ihe estimatè is revised wherè the revision affects only that periyl. or in th8 pèrlod of the r8vision and future peri¢xSs where the revision aftects both current and fvlure perM)d& Dofiationg and legacies Unrestrrcttrd Restrlcted fund$ funds Totsl Unreslricled funds Restrlcted funds Total 2022 2022 2022 2021 2021 2021 Donations and gifts Grants receivablè for )re activTh'e5 542 9,363 9.905 548 1,218 1,766 2,000 2,000 542 11,363 11,905 548 1,218 1,766 Ch4riièbk 8¢tl¥ltlet$ 2022 2021 Gross Fees recèivable Less., Bursarie5, Scholarships and Discounts 6.632,551 1760.1591 5.794.716 1861,5831 Net Fees r¢ceSvable 5,872.392 4,933,133 R8crealional facilities Summer camps and courses 50,401 20,702 15,969 18,205 5,943.495 4,967,307 17.
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Investments Unrestricted Unrestricled fund5 funds 2022 2021 In¢ome from listed inveslments Interest receivable 32.556 1.192 15,519 33,748 15,964 Other Income Unrestrictsd Unrestricted funds fvnds 2022 2021 Okher income Coronavinjs Job Retention Stheme grants 80.347 65,138 90.269 80,347 155,407 Raising funds Unrestricted Unrestricted fund5 funds 2022 2021 Investment man 9,863 7.962 9,863 7.962 18-
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Charitable actlvltles Provldlng Pmvldlng education educatiori 2022 2021 Staff costs Depr8ciatSon and impairment Educatitsn equipment and materk4ls Sport and games equipment Education85 visits and èctivrties Provisions 2,861,406 2,919,824 58,837 45,315 142.105 117,131 9,530 3,824 30,556 11,674 190,560 122,966 3,292,994 3.220,734 Grant funding of activities158e note 91 5,888 1.434 sha of support Costs (see note 101 Sharo of govemance costs Isee note 101 2,250,636 19,150 1,897,794 19,060 5,568,668 5,139,022 Analysis by fund Unrestricted lunds Restricled funds 5,562,780 5.137,588 5.888 1,434 5,568,668 5,139,022 Grant$ payable Provldlng education 2022 Providing edvcation 2021 Gionls to individuals12 grants) 5.888 1,434 5.888 1,434 The grants payable in 2022 of £5,888 are restrlcted grants to tsyo Ukralnian relugees lor their fees paid out of the Bursary Fund. The grant payable in 2021 of £1,434 is 8 restricted grant to an individual paid oul of the Bursary Fund. 19-
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 1Q Support costs Support Governance costs costs 2022Sup4X)rt Costs Goveman¢e costs 2021 Staff costs- Suppl*( Staff costs- Welfare Staff ¢osts- Holiday Pay provision Depreciation Rates Insuranc8 Light and heal Repaits an¢J maintenance Printing. postage, stationery. advertising and websrte Telephone and f8X Motor expenses Legal and professional fees School inspection Household expenses Cleaning cA)ntracts Upkeep of grounds and po Bad debts Sundry expenses Bank charges 972.662 360,454 972,662 360,454 854,699 320.019 854,699 320,019 25,000 83,022 98,774 46,169 152.909 25,000 83,022 98,774 46,169 152,909 91,653 89,583 40.970 90,207 91.653 89,583 40,970 90.207 165.023 165,023 101,306 101,306 78,032 8,021 45,167 78,032 8,021 45,167 64.692 64.692 8,644 34,915 34.915 19,384 19,384 3,645 47,015 7,572 63. 3.370 35,888 21.715 63,066 3.370 35.888 21,715 47,015 7,572 74.494 26,692 29,620 6,981 74,494 26,692 29,620 6.981 51,241 2,367 19,558 3.901 51241 2.367 19,558 3,901 Audit fees Accountancy 6.325 12,825 6.325 12,825 6,295 12,765 6,295 12,765 2,250.636 19,150 2,269,7B6 1.897.794 19.060 1.9f6,854 Analysed tseeen Charitsble activities 2,250,636 19.1SO 2.269,786 1.897,794 19.060 1.916.854 Govemance eosts indud8S P8ymgnts to th8 8uditars of £6,325 12021- £6.2951 for audit fees and £12.825 12021- £12,765) for other serM¢es. 11 Tru$te¢s None of the Trustees lor any p8r50ns connect8d with them) Te¢eived any remuneration during the year. and none of them We reimbursed tr8velling expenses12021- none). -20-
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 AUGUST 2022 12 Employ¢o¥ Numbèr of ernployeès The average monthly number of ernoYa&S during the year was.. 2022 Number 2021 Numbor Teaching staff Admin and support staff welfa stsff 68 40 21 45 24 136 129 Employment co$ts 2022 2021 Wages and salaries Social security costs Oiher pension costs Oth8r staff costs Holid8y pay provSsion 3.476,376 309,189 350,116 58,841 25,000 3,244.688 287,416 509,119 53,319 4.219,522 4,094,542 The total number Of full Ume 6quivalenl staff was 10312021- 981- Thls eomprfsed teaching staff of 5712021- 571, admin and support staff of 3112021 2718nd welfare staff of 1512021- 141. The number ol employees whose annual remuneration was £60,000 or more were.. 2022 Number 2021 Number £6O,000- £70.000 £70,CQO- £80.000 £100.000- £110,000 £110,000- £120,000 During tha yaar, the charity Paid £48,021 12021- £39.1091 pensicw contributions for 512021 31 m8mbers of staff eaming over £60.000. 21
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 13 N•t gain1105¥eSI on investments Unrestricted Unrestricted funds funds 2022 2021 Revaluats'on of investments GainlUoss} on sale of investments 1127.5061 12,7691 173057 19.753 1130,2751 193,610 14 Taxation Due to its charttable status no Itabilty to taXatn arises in the financi yeBr. 15 Transfers There is a transfer in the wmparative year from reslricted to unrestricted ftjnds of £1.000 due io restricte fijnd expendtbjre having been ¢apitalised. -22-
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WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2022 17 Fixed asset investments Listed investments Cash in portfollo Total Cost or valuation Al 1 September 2021 Additions Valuation ¢h8nges (Deueasel in ptsrtfdio cash Disposals 1,251.850 430,290 1127,5061 32.452 1,284,302 430.290 {127,5061 119,7371 {140,6221 {19.7371 1140,6221 At 31 August 2022 1,414,012 12,715 1,426,727 Carrying amount At 31 August 2022 1.414.012 12.715 1,426,T27 At 31 August 2021 1,251,850 32,452 1.284,302 Fixed asset investments revaluad The investments are induded at middle price market Value at 31 August 2022. The histOrifAI cost of these investments is £1,382.850. 18 Financial instruments 2022 2021 Canying amount offinancial assets InstrJm&nts measured at fair value through profit or loss 1.414.012 1.251.850 19 Debtor5 2022 2021 Amounts falllng due within one year- Trade debtors Other debtors Prepayments and accrued inwme 79,386 18.504 194.115 97.385 38.520 138,900 292,W5 274,805 -24-
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 20 Credltors: amounts fallSng due wlthln onè year 2022 2021 Other laxalion and social security Tr3de creditors Other ¢rèditors Accruals and deferred incorn8 95.524 124,183 1.094,929 42,718 85,496 42.905 939.609 19,777 1,357,354 1,087,787 21 Provisions for liabilities 2022 2021 Holiday pay provision 25,000 Movements on provisions.. Hollday pay provlslon Additional provisions in the ye¥r 25,000 Thore is 8 holiday pay provision of £25,000 which relates to the re-calculation of the hdid8y pay element of several staff who are on annvalis8d contracts who work term time Dnly. The change in calculatlon is as a resull of a High Court ruling and further advice is being sought on this before performing Ihe calculations. Th$ Payments will have to b8 tnade In the 2022123 financlal year and the £25,CN)O is a best estimate of what will be due for the 2021122 year. 22 R•tlr•m•nt benefit $¢hèm•s Oeflned contributlon schemes The Trust operates a dèfinad conlribulitsn pènsion scheme for all quBlifying employeès. The assets of the scheme are held separately from those ol th8 Trust In an Independenly administered fund. Thè charge lo proffl or loss in respect of defined contribu¢ion schemes wa5 £350,11612C121- £33.5491. At the bdance sheet date the were ac¢ru&d pension Contributions of £49,081 12021 £8,404). Defined bon11 sehem8 unt 31 August 2021 the Sthool parbopated in the Teachers, Pension Scheme I'the TPS'I for its teaching staff. The pension charge lor the comparative year indud8d contribution5 payable to the TPS of £475,570 and al 31 August 2021 £55,878 WBS accrue¢J in respect of contributions to this scheme, with the fin81 payment bèing made lo the TPS on 6 Sept&mber 2021. -25-
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WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 24 Analysls of ntrt assets between funds Unrestricted R•strlctgd funds funds 2022 2022 Total Unre$lflCtèd funds 2021 Reslrided fundg 2021 Totsl 2022 2021 Fund b818nces at 31 August 2022 are reprtrs¢nted by.. Tangible assets Investments Current assetsllliabilitiesl Prowsions 10,457,145 1,426,727 1,087,127 125,0001 10,457.145 1Q,506,626 1,426,727 1.284,302 1,190,965 799,857 125,0001 10.506,626 1,284.302 898.220 103,838 98.363 12.945,999 103.838 13.049.837 12,590.785 98,363 12,689,148 Operating lease commltrn•nts At the PortIng end date the Trust had outstanding commitments for futu Minimum lease payments under non-cancellable op8rating 5ease5. which fall due a5 fdlows.. 2022 2021 Wiihin one yeor Batsv86n and fiv8 yars 6,666 13,332 26,024 19,998 19,998 46,022 Th8 operating lease payments recognised as an eXnSe in the year were £25,90412021 - £25,9041- 2022 26 Capitsl commltments 2021 Al 31 August 2022 the Tru had capiial commvimgnts a8 follows= Contracted for bul not provided in the financial stal&m8nls'. Aryuisition of properly, plant and equiptnenl 48.318 27 Related party transactlons Rtmuneratlon ol kèy managernent p•rsonn•l The remuneration of key management personn¢l is as follows. 2022 2021 Aggregate compensatlon 424,168 421,109 -27-
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Related paity trdnsactton5 (Contind> Transactions with related parties Mr J Bruce has chlldren th* att¢nd the school wilh fee arrangements teing in accordanee tht sth(xA's rMal lem)s. Cash gènernted from operations 2022 2021 Sutplus for the year 360,689 187,070 Adjustmtrnts for Investrnent income rècognis8d in statsment of fir5anc4al activities (Gainlloss on disposal of tangible fixed assets Lol9a1n} on disposal of investments Fairvalue gains and ltssses on investments Depreciation and impatrment of tangitA? fixed aets 113,748) 115.964) 2,769 127,506 141,859 (1g,753} (173,8571 136,934 Movements in worlong capital: {Increaseydecrease in debtors Increase in ueditors In¢re#se in provisions 117,200) 269,567 25.000 97.309 223.960 Cash generated from operations 876,442 435,733 29 Analyst5 of changes in net fun The Trust had no debl during the year. -28-