Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
Company registration number.. 00555144
Charity number.. 307324
GOVERNORS, REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2020
31 AUGUST 2020
ST NEOTS (EVERSLEY)
LIMITED
(A Company Limited by
Guarantee)
MENZIES
BRIGHTER ,IINKIN

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
CONTENTS
Page
Reference and Administrative Details of the Company. its Governors and Advisers
Governors, Report
Independent Auditors. Report on the Financial Statements
Statement of Financial Activities
9-11
12
Balance Sheet
13
Statement of Cash Flows
14
Notes to the Financial Statements
15-30

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS
GOVERNORS AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2020
Govemors
David Bailey
Michael Nash
Barbara Stanley
Wendy Berry
Peter Geman lappointed 3 October 20191
Amir Mostafid
Kay Price
Nigel Stoate
Roger Woodbridge, Chair
Madelaine Best (appointed 3 October 20191
James Dahl
Company ￿gIStered
number
00555144
Charity registered number 307324
Regi¥tered offi¢e
1 London Street
St Neots Road
Reading
Berkshire
RG14QW
Principal operating
office
St Neots Preparatory School
St Neots Road
Eversley
Hook
RG27 OPN
Company saerètary
Andrew Brown
Head Teacher
Deborah Henderson
Independent auditors
Menzies LLP
Chartered Accountants
Centrum House
36 Slalion Road
Egham
Suirey
TW20 9LF
Page 1

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS
GOVERNORS AND ADVISERS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
Bankers
N8tion81 Westminster Bank PIC
5 Broad Slieel
Wokingham
Beikshire
RG40 1AU
Sollcltors
Field Seymour Parkes
The Old Coronerfs Court
1 London Street
PO BOX 174
Reading
Berkshire
RG14QW
Page 2

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
GOVERNORS, REPORT
FOR THE YEAR ENDED 31 AUGUST 2020
The Governors. who are also directors for the purposes ol company law, present their annual and strategic reports together
with the audited financial statements for the year 1 September 2019 to 31 August 2020.
ACHIEVEMENTS AND PERFORMANCE
Ac8demNc
The past year has been disrupted by the closuie tsf all schools by the Govemment in response tts the Covid-19 Pandemic.
The end of the Spring tem and the entire Summer Term, excluding the last two weeks were taught remotely. A number of
staff participated in the Furlough Scheme, which led to a restructure of staffing for the remote learning period," all academic
lessons were delivered virtually. Fom times, focussing on the children's pastoral care, were incorporated into the weekly
remote programme for all classes. Despite the unprecedented situation, St Neot's pupils were extremely successful in the
arnounl of scholarships awarded by senior schools.. fourteen in total across all disciplines (four Academic, four Sport, three
Perforrning Arts. one Musi¢. one Art and one Music & Dance). The decision was taken. in ￿nSultation with senior schools.
for Common Entrance Examinations to be put on hold snd for the te8cheis to make use of the ongoing PSB assessment
data. The PSB Scores had been collated throughout the pupils, senior ye8rs and theiefoie piovided 5 teirn's worth of
assessment data. This pro￿55 provided accurate and Informative transfer infoirnation to destination schoo15, at a time
when how to assess children was In Wodd debate. Consequently, all children gained entry to their chosen school. This
situation further validated our decision to move away from CE in August 2021, where children will be assessed entirely
under the umbrella of the PSB.
We welcomed two new members to the teaching staff, one Teaching Assistant and one technician as well as one part time
Receptionist lo the team. The recruitment prO￿sS has, once again, strengthened the expertise and talent ol the teaching
staff.
Scholarship preparation is delivered lo those entering for scholarships and also for those children who would benefit from
further challenge. Eniichrnent and extension opportunities foi children have been provided through day 8nd residenti81
xteinal vi51ts, courses, cornpetitions, in-house and extra-cutriculai sessions. A comprehensive range ol after school
activitie5 and additional Prep sessions ale available to children of all ages. Aututnn and Spring teirn ie51dential trips took
place for pupils, allowing children to develop independence as well as collaborative and creative thinking skills. Any missed
opportunities due to Covid-19 restrictions will be reconsidered as and when restrictions relax.
St Neot's continues to integrate elements of the PSB into the School curriculum, in order to encourage the development of
skills, speryfically of Independence. Reviewing and Improving, Thinking and Learning. Collaboration, Communication and
Leadership. The teaching of skills alongside knowledge is to ensure children are fully prepared for a modem future. As a
school. we have developed a skills based approach to learning further still. with a whole school approach to planning where
the PSB core skills ale developed through all sreas of school life. In addition, ievised assessment opportunities allow for a
variety of skills and knowledge to forrn part of children's overall outcomes and performance. All staff from Reception to Year
8 have access to annual PS8 training as well as an opportunity to liaise and nelwotk with other professionals frorn PSB
schools and Heads of Departments from senior schools. To enhance further our innovative and creative approach to
learning and the delivery of a holistic educational experience, music technology lessons have been introdLJced for the senior
pupils. In addition, the school hosted a variety of 'Theme Days, for various year groups across the age ranges, such as
Roman day, Egyptian day, Great Fire of London day and Fairytale day. This was in addition to a wonderful whole school
celebration ol literature on World Book Day.
Throughout the Aulurnn and Spring terms. sporting fixtures took place on an almost weekly basis. with every child who
wished lo represent the School having the opportunity lo do so. Girls, in particular. have enjoyed the introduction of girfs,
so￿r. Following ils success. future matches will be on the prograrnme. The U13 Boys, football team qualified for the
'iegionals' to reach the IAPS National Football fin815. placing the team in the top 20 teatns ol all IAPS schools. St Neol's
h05ted an U13 Football Tournament, finishing as runners up, U9 Netball Festival, as well as Iwo new Inth"atives with
Festivals foi Year 2 pupils in both football and netball. We continue to see strong performances In cioss country w(th 7
runners qualifying for the District team. Unfortunately, the country trials along with the St Neot's Cross Country, IAPS
Athletics and Tennis Tournaments were cancelled due to the Wodd Pandemic. One student has continued to perform at
International Level and Won a Gold Medal at the Open International Aerobic Gymnastics Competition. with another
perfoming at international level in Dance. We have seen continued success in IAPS judo competitions with 1 gold, 1 silver
and 2 bronze medals in a range of age groups. Our tennis programme was particularly badly affected by the school closure.
Page 3

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
GOVERNORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
Approximately 200 children took peripatetic music lessons. entering exams wth ABRSM, Trinity Guildhall, Rock School and
LCM. Music exams were affected by the interruption due to lockdown. However, of the 15 children who were able to enter
exams. 7 achieved distinction and 6 achieved rnerit. with 2 passes. which were outstanding achievements. p8rti¢ularly in the
cutrenl circumslanTrs. Choiis took place throughout the Autumn Teirn, including Senior Choir, Junior Choir, Pre-Prep Choir
and Chatnber Choir. Rock Band, Percu5510n Group and Chamber Ensemble were also regu18r break tirne activities during
the Autumn Tertm. Pre-Prep and Nursery children sang and performed In a variety of delighfful Christmas and Harvest
celebiations. Children from Years 3 to 8 took part in the Christmas Concert, which was, as usual, one of the highlights of the
musical year. Unfortunately, the Summer Concert, Middle School Musical, and Main School's extravaganza of 'Beauty and
the Beast,, were cancelled due to the pandemic. However, where the opportunity allowed, filming provided a way of children
being able to perform and share the delights with their parents. The plan is for'Beauty and the Beast, rehearsals to resume
next academic year and. if necessary. lo be filmed in a Covid-safe way for parents, staff and pupils to enjoy. Children in
Main School Iyears 4 - 81 took part in the Barnardo's Young Supporters, Concert in the Autumn Term al the Royal Albert
Hall and selected pupils were also given the opportunity to attend the Prep Schools, Choral day at Wellington College. In
addition to break time activrtie$. after school musical 8¢tivities are offered. including 'Mu$ical The*re Club, and Music
Technology Club.
Community
DLJring the year, activities have been constrained by the limitations imposed during the Covid-19 pandemic. However, when
allowed..
We have continued to develop our partnership with Eversley Tennis Club and provide facilities and coaching to its
members.
Local youth soccer dubs used the astro facility for mid-week training.
Seven local clubs used the school sports hall for netball training and rllalches.
Three local cricket clubs used the indoor nels.
Rushmoor Royals 8nd Hart Swimming Clubs trained in the school pool e8¢h weekd8y evening.
Over £4,000 was raised lor a variety ol charrt185.
Infrastmctuts Estates Management
The School has continued to focus on enhancement and maintenance of the faalities and grounds.
The Governors base their judgement of the performance of the charity on the academic performance ol pupils based on the
receipt of assessment and tracking data taken from throughout the school. Other indicators are the number of successful
entries gained to a senior school of choice and scholarships awarded. the performance of school sporting teams. plus
music and drarna examination results. Govemors are kept inforrned of the general development of children a5 well as purely
acadernic performan￿.
The Governors are delighted to announce that St Neot's entered into a Fomal Collaboration with Loid Wandsworth College
on 15 April 2021, an arrangement which will provide future benefits to both parties.
FINANCIAL REVIEW
The prinapal source of funding is fee income paid by parents., additional incorne is derived from extra-curricular activities
and the hiring of school grounds and facilities to external agencies.
FINANCIAL KEY PERFORMANCE INDICATORS
In the year ending August 2020, overall inwme went down by £536k cornpared to the previous year. This was due lo 8 270/¢
reduction being given against the Summer teim fees during the lockdown caused by the Covid-19 pandemic, amounting to
£310k, coupled with a £30k reduction in Income from property rental income a5 well a5 a reduction in other Income, for
example after school clubs. Fuilough income of £195k was set against that and there were othei reduced costs amounting
to £467k, achieved mainly through £238k in staff costs and £197k in other areas. Numbers of pupils at the school also
reduced over this period due largely to the financial impact ol Covid. Re￿iptS from Fees in Advance reduced by £239k
compared to the previous year. The deficit in the period was £389k after depreciation of £239k. Overall net debt including
the overdraft and term loans amounted to £1.476k. The School continued to invest heavily in repairs, Maintenan￿ and
grounds upkeep. Expenditure in these areas was £174.064. Total capital expenditure during the year amounted to £30.502
Page 4

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
GOVERNORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
RESERVES POLICY
The School's unrestricted funds stood at £5.157.212 at the year-end. wholly ulilised as part of the School premises and
equipment provision. Day-to-d8y working capi181 is tnet by careful mana9ernent of short-lerm liquid resources in the
absence of free reserves. The Governing Board rernains mindful of the requiretnent5 of SORP 2015 and the need to
stipulate a 5Ultable percentage ol free resetve5. However, this niu5t be a rea115tic figure and dovetail practically wrth the
need to proactively manage School loans to ensuie new projects can be sensibly planned in close partnership with the
School's bankers. Given the above, the Governing Board has adopted a policy to achieve a minimum of £500,000 in free
reserves, after committed capital repayments, as a suitable general objective.
GOING CONCERN
2019-2020 has been a difficult trading year for the School with the impact of COVID creating considerable operating
difficulties and financial uncertainty for parents affecting the ability of the School to recruit and retain pupils, while restrioting
its ability to earn income from letting5 and other sources. The School generated a loss of £388,914 after depreciation of
£239,269. The Governors are very pleased to report theiefoie that following the collaboration agreement with Lord
Wandsworth College, St Neot's IEveisleyl Lirnited has repaid all bank borrowing5 and further working capital is available for
the School to rebuild its finances. The Govemois are now very confident regarding the School's finances and believe that
results will rebound now that the impact of COVID on the economy is reducing. The Governors therefore believe that St
Neot's IEversleyl Limited remains a Going Con￿rn and the accounts are prepared on this basis.
PLANS FOR FUTURE PERIODS
Since the year end St Neot's has entered into a Formal Collaboration with Lord Wandsworth College, a respected local
Senior School. St Neovs will continue lo work with Lord Wandsworth College to further strengthen this Collaboration, for the
benefrt of both parties. This provides an exciting opportunity for the School to develop ils activities and grow. as well as
putting things on 8 secure financial fooling foi the future.
RISK MANAGEMENT
The Board is responsible for the management of risks faced by the School. A Governors, committee regularly considers the
major risks to which the charity is exposed and has established systems and prO￿dureS to manage those risks.
The major risks identified and rnonitored by the Governors are..
Inadequate pupil numbers I marketing tsilure
Failure to recruit and retain top quality staff 8nd f8ilvre to develop and support all employees
Political Risk
Safeguarding and Child Protection
IT failure inclLJding eflect of cybei attack
leach of data protection laws
Major environmental catastrophe Serious health & safety incidents.
The key controls used to manage risk include..
Formulation of a Risk Register
An annual review of the significant business risks faced by the School
Terms of Reference for each Committee (revised when appropriatel
Form81 agendas for all Gomrnittee and Board activity
Comprehensive budget and management accounting
Established organisational structure and lines of reporting
Clear financial authorisation and leve15
Vetting and reporting procedures as required by law for the safeguarding of children
Regular review of all School policies
Regular review and testing of the main health and safety risks by an independent consultant.
It is recognised that these systems can provide reasonable but not absolute assurance that major risks have been
adequately managed.
The Governors are cognisant of the ¢urient uncertain political and economic environment and the possible impact that
sudden chang85 might h8ve on independ8nt schoo15. This 155ue Is regu18rfy discu55ed 8t Board and Cornrnittee me8tings.
Page 5

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
GOVERNORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
OBJECTIVES AND ACTIVITIES
Aims oflhe Ch8rity
The Aitn of the School 15 to advance educ8tion for children of pre-prepaiatory and pieparatory school age. Scholarships and
8ur5arie5 are awarded where appropriate. The Governing Board sets the poliaes to achieve this Airn and these are
rellected in the School's prospectus.
The School's objectives are achieved as follows..
Educational Provision
The Board sets out to provide independent preparatory education al Eversley for boys and girls from the ages of 2 years to
13 years. To cope with this substantl81 age range. the School is divided iNto four separate sections. Children aged 2 years
attend the School's creche ￿InY Tuskeisl before progressing to the Nursery facility at the age of 3 years. Subsequenuy.
children progress through Pie-Prep (Reception and Key Stage 11, before joining the Middle School Iyears 3 and 41.
Thereafter, pupils progress to the Main School Iyears 5 to 81, where they are prepared for the Common Entranee
examination at the age of 13 years, after which they leave to take up a place in secondary education.
Child Protection
The School's policy is to develop the varying talents of each child to the best level in a friendly, supportive and safe
environment. This philosophy is taken very seriously and staff continue lo undertake formal child protection training and
attend appropriate briefing sessions. The Board has appointed a Governor with specific Child Protection responsibilities
who works conjointly with the mernber of the School's Senior Leadership Tearn responsible for such matters.
PublNG Benefit
The Govemois have taken due 8ccounl of the ruling from the Upper Tiibun81 IT8x and Ch8ncery Charnberl dated 14
October 2011 on the Chaiity Commi5510n guidance on pioviding public benefit. The Goveinor5 are confident that the School
provide5 a high quality education in line with its Charitable Objects and actsss is widened through the bursaries and
discounts provided. The Govemors continue to monitor best practits in this area.
Infffistmctu￿ and Estate Management
The School's objectives are to maintain its facilities in good order and to expand and enhance these as necessary so as to
keep them up to date and with current educational requirements. subject to appropriate funding. During the year the
intention was to continue to continue to invest in infrastructure. grounds irnprovements and general maintenance.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The Chaiity is a Company inctsrporated under the Companies Act 1948. It is limited by guarantee and does not have share
capital. Its Memorandum, Articles of Association and Certificate of Incorporats'on were issued on 27 September 1955.
Revised Articles were adopted with effect from 22 September 2016.
The Governors who served the Company during the year were as follows:
Louise Axton (Resigned on.. 31 December 20191
David Bailey
Wendy Be
James Dahl
Gillian Empringham (Resigned on.. 2 May 20201
Arnir Mostafid
Michael Nash
Stephen Scott (Chair to 3 October 20191 IResigned on".3 October 20191
Barbara Stanley
Nlgel Stoate
Roger Woodbridge (Chair from 3 October 20191
Method ofappoinlment orele¢tion of Govemors
Governors are recommended for appointment to the Bo8id by other Board members or the School's Executive Officers.
Upon consideration of applicants, experience and after an interview with the Appointment5 and Govemance Comrnittee 8
decision will be taken by Board members on whether to appiove their application. New Governois are briefed on their
Page 6

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
GOVERNORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
responsibilities by the Clerk lo the Board (the Bursar) and receive a copy of 'The Essential Trustee Guide., issued by the
Charities Commission and a copy of 'Guidelines for Governors.. issued by the Association of Governing Bodies of
Independent Schools and the Independent Schools, Gounryl.
OrganNsational slruGfvre 8nd d8cision makirjg
Board Meetings are held temly, normally three weeks before the end of each term. The meeting receives reports from the
Head and Bursar covering all School matters induding staff and pupil issues, financial and inlrastruciure issues," in addition,
reports are received from the chairs of committees for". Finan￿ and General Purposes", Education," Health and Safety.,
Appointments and Govemance and Risk Management. An additional meeting is usually held in September, at which the
School's Development Plan and any significant future events are formally reviewed. Governing Board sponsored policies.
such as Health and Safety and the School's Emergency Management Plan. are now reviewed by the appropriate Board
cornrnittee.
The Board appoints the He8d and Burs8r and retains ultim8te responsibility for the approval of all future policies and
developments and reviews regulaily their impact on the School's finance5 and operations. W(thin these parameter5, all day
to day operatitsnal mattels are delegated to the Head and Bursar, as appropriate, who are responsible for ensuring the
School's Aim, as detailed above, is pursued.
Remuneration ofKey Management Pe￿onnel
The policy for remuneration of Key Management Personnel is that salaries are benchmarked against comparable national
rates and also discretionary awards can be given, based on perforrnance. This procedure is monitored by the Appointments
and Governance Gommittee.
STRATEGIC REPORT
The company has chosen in accordance with Section 414CI111 of the Companies Act 2006 (Strategic Report and
Directors, Report) Regulations 2013 to set out within the Strategic Report the Company's Strategic Report
Information required by Schedule 7 of the Large and Medium SEed Companies and Groups (Accounts and Reports)
Regulation 2008. This includes information that would have been included in the business review and details of the principal
risks and uncertainties.
Governors, responsibilities statement
The Governors (who are also directois of St Neot's (Eversleyl Lirnited for the purpose5 of company18wl ale responsible for
preparing the Governors, Report and the financial statements in accordan￿ with applicable law and United Kingdom
Accounting Standards Iunited Kingdom Generally Accepted Accounting Piacticel.
Company law requires the Governors to prepare financial statements for each financial year. Under company law the
Governors must not approve the financial statements Ljnless they are satisfied that they give a true and fair view of the state
of affairs of the charitable company and of the incoming resources and application of resources, including the income and
expenditure, of the charitable company for that period. In preparing these financial statements, the Governors are required
to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP..
make judgments and accounting estimates that 8re reasonable and prudent..
state whether applicable UK Accounting Standards have been followed. subjed lo any Tn8terial departures
disclosed and explained In the finanaal 5tatetnent5",
prepare the financial statements on the going contsrn basis unless it is inappropriate to presume that the charitable
company will continue in operation.
The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the
charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable
company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
Page 7

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
GOVERNORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
Disclosure of information to auditors
Each of the persons who are Govemors al the lime when this Govemors, Report is approved has confirmed that.
so f8r 85 th8t Govemoi is 8W8ie, there Is no relevant 8udil inform81ion of which the ch81il8ble wmpany's auditors
ale unaware, and
that Govemor has taken all the steps that ought to have been taken as a Govemtsr in order to be aware of any
relevant audit information and to establish that the charitable company's auditors a￿ aware ol that infomation.
Audito
Under section 487121 of the Companies Act 2006, Menzies LLP will be deemed to have been reappointed as auditors 28
days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the
accounts with the registrar, whichever is earlier.
This report, incorporating the Strategic Report, was approved by the Governors, in their capacity as company directors, and
signed on their behaK by..
Do¢uS*n•d by..
Roger
Date..
25-May-2021
Page 8

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
MENZIES
BRIQHT£R THINKIN
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ST NEOTS
(EVERSLEY) LIMITED
Opinion
We h8ve audited the financial statements of St Neot5 IEversleyl Litnited (the 'charitable company'l for the year ended 31
August 2020 which comprise the Statement of Financial Activities, the Balan￿ Sheet, the Staternent ol Cash Flows and the
related notes, induding 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, induding Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic ol Ireland, (United Kingdom Generally
Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the charitable companys affairs as at 31 August 2020 and of its incoming
resources and application of resour￿5. including its income and expenditure for the year then ended..
have been properfy prepared in accordance wrth United Kingdom Generally AC￿pted Accounting Piactice,. and
have been prepared in accordance with the reqLJirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Auditing IUKI IISAS IUKII and applicable law. Our
responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial
statements section of our report. We are independent of the charitable company in accordan￿ with the ethical
requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial
Reporting Council'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 m8tteis in relation to which the ISAS IUKI require us to report to you
where".
the Govemors, use of the going concein basis of accounting in the preparation of the financial statemènts Is not
appropriate", or
the Governors have not disclosed in the financial statements any identified material uncertainties that may cast
significant doubt about the charitable company's ability to continue to adopt the going con￿r￿ basis of accounting
for a period of al least Iwelve months from the date when the financial statements are authorised for issue.
other infomiation
The Governors are responsible for the other infonnation. The other information comprises the information included in the
Annual Report. other than the financial statements and our Auditois, Report thereon. Our opinion on the financi81
statements does not cover the other inforrnation and, except to the extent otherwise explicitly stated in our ieport, W8 do not
express any form of assurance conclusion theretsn.
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 infomation is materially inconsistent wrfLh 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.
Page 9

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ST NEOTS
(EVERSLEY) LIMITED (CONTINUED)
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Governors, Report including the Strategic Report for the financial year for which the
rinanci81 statements are prepared is consistent with the financial s18lernenls.
the Governors, Report and the Strategic Report have been prepared in accoidance with applicable legal
requirements.
Matters on whlch we are requlred to report by exceptlon
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 Governors, Report including the Strategic Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report
to you if, in our opinion..
adequate accounting records have not been kept. or returns adequate for our audit have not been received from
branches not visited by us.. or
the finanaal 5tatement5 ai8 not in agreement with th8 accounting records and r8tums,' or
certain disclosures of Govemors, remuneration specified by law are not made", or
we have not re￿iVed all the information and explanations we require for our audit.
Responslbllltles of trustees
As explained more fully in the Governors, Responsibilities Statement, the Govemors (who are also the directors of the
charitable cornpany for the purposes of company lawl are responsible for the preparation of the financial statements and for
being satisfied that they give a true and fair view. and for such intemal control as the Governors determine is necessary to
en8ble the preparation of financial statements that are free from materi81 misstaternent. whether due to fraud or error.
In prep8ring the finan￿81 slatemenls, the Governors ale responsible for assessing the charitsble Companys abilty to
continue as 8 going conc8m, disclosing. as applicable, mattels related to going concein 8nd using the going concern ba51S
of accounting unle85 the Governors either intend to liquidate the chaiitable cotnpany 01 to cease operations, or have no
realistic alternative but to do so.
Audltors, responslbllltles for the audlt of the fSnanclal 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 Auditors, 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 IUKI will
a￿ayS 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 lo influence the economic decisions of users
taken on the basis of these financial slalemenls.
A further description of our responsibilities for the audit of the financial sl8lernenls is Ioc8led on the Financi81 Reporting
Council's webslte 8t.. www.frc.or
.uklauditorsres
This description forms part of our ALJditois' Report.
Page 10

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ST NEOTS
(EVERSLEY) LIMITED (CONTINUED)
Use of our report
This report is made solely to the charitable company5 members, as a body. in accordance with Ghapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we rnighl state to the charitable companys members
those mallers we are required to state to them in an Auditors, Report and foi no othei purpose. To the fullest exlenl
peirnitted by law, we do not ac￿pt or a55ume iesponsibility to anyone other than the charitable company and its mernbeis,
as a body. for our audit work, for this ieport, or for the opinions we have lortned.
Do¢US￿nId by..
JthACL
an12&￿£￿￿eWs FCA (Senior Statutory Auditor)
lor and on behalf of
Menzies LLP
Chartered Accountants
Statutory Auditor
Centrum House
36 Station Road
Egha
Suriey
TW20 9LF
Date.. 25-May-2021
Page 11

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2020
Unrestrlcted
funds
2020
Restrlcted
funds
2020
Total
funds
2020
Total
funds
2019
Note
Incorne from..
Donations and legacies
Charitable a¢tivilie5
194.752
3,675,534
67,288
2.500
197.252
3,675.534
67.288
9,090
4,368.635
98,492
Investments
Total ineomè
3,937,S74
2,SOO
3,940.074
4,476,217
Expenditure on..
Charitable activities
4,326.488
2.500
4,328.988
4, 795,839
Total expenditur8
4,326.488
2.500
4,328.988
4, 795,839
Net movement in funds
1388,9141
1388.9141
(319,622)
Reconciliation of funds:
Total funds brought forward
Net movement in funds
S,552,126
138B,9141
1,000
S,S53,126
1388.9141
5,872, 748
(319,622J
Total funds carrled fonward
5,163,212
1,000
5,164.212
5,553, 126
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 15 to 30 form part of these financial statements.
Page 12

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER. 00555144
BALANCE SHEET
AS AT 31 AUGUST 2020
2020
2019
Note
Fixed assets
Tangible assets
Current assets
12
8,002,963
8,211. 730
Debtors
13
178,107
154,986
178,107
154,986
Creditors.. 8mounts falling due within one year
14
12,109,161)
fl.951,233J
Net current liabilities
11,931.0541
(1, 796,2471
Total assets less current liabilities
6,071,909
6,4t5,483
Creditors. amounts falling due after more than
one year
15
1907.6971
(862,357J
Total net asset8
5,164.212
5,553, 726
Charity funds
Restricted funds
Unrestricted funds
16
1.000
General funds
16
4.847,029
316,183
5, 165,487
386,639
Revaluation reserve
Total unrestricted funds
16
5,163,212
5,552, 126
Total funds
5,164.212
5,553, 726
The Governors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting
records and preparation of financial statements.
The financial statemenis were approved and authorised for issue by the Governors and signed on their behalf by..
Do¢uS*Md by..
Roger Woodbridge
Date.. 25-May-2021
The notes on pages 15 to 30 ftsim part of these financial statements.
Page 13

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2020
2020
2019
Cash flows from operating activities
Nel cash used in operating activities
1395,3771
67.588
Cash flows from investing activities
Purchase of tangible fixed assets
130,5021
(95,2821
Net cash used in investing activities
130,5021
195.2821
Cash flows from financing activities
Repayments ol borrowing
Interest paid
133,1851
119,7641
(64,048)
(33,9241
Net cash used in financing activities
152,9491
197.9721
Change in cash and cash equivalents in the year
1478,8281
1125,6661
Cash and cash equivalents at the beginning of the year
1402,7161
(277,050)
Cash and cash èquivalènts at tha ènd of thè yèar
1881,5441
(402, 116)
The notes on pages 15 to 30 form part of these financial statements
Page 14

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
General information
St Neot's (Eversleyl Lirnited is a private cornpany limited by guarantee incorporated in England and Wales,
registered nurllber 00555144. Details of the registered office and principal activitie5 can be found on page 1.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting
and Reporting by Charities.. Statement ol Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 10218nd the Companies Act 20(￿.
st Neots (Eversleyl Limited meets the definition of a public benefit enlily under FRS 102. Assets and liabilities
are initially r8cognis8d at historical c05t 01 tr8nsaction value unl855 Oth8tWlS8 Stated in the relevant accounting
policy.
2.2 Going eone•rn
Following the announcement that St Neot's has entered into a Formal Collaboration with Lord Wandsworth
College, as set out in Note 25, and the resulting repayment of bank borrowing and provision of working capital,
the Govemors are confident that the School is a Going Concern for at least twelve months from the date of
signing the accounts and for the foreseeable future. The accounts are accordingly prepared on the Going
Concem basis.
2.3 Income
Fees re¢eivable, grants and Charges for services and use of premises are 8w)unted foi in the period in which
the service is provided. Fees receivable are stated after deducting allowances, and othei remissions allowed by
the Schools, but are stated before buisaries awarded. BLJrsaries are shown as a cost in the period in which
they are utilised to pay school fees.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income
received for specific purposes but not expended during the period is shown in the relevant funds on the
Balan￿ Sheet. Where income is received in advance of entitlement of receipt. its recognition is deferred and
included in creditors as deferred income. Where entitlement occurs before income is received, the income is
accrued.
2.4 Expenditu
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit lo a third
party. il is prob8ble th81 a transfer of e¢onomi¢ benefits will be required in settlement and the arnount of the
obligation can be measured reliabty. Expenditure is c18ssilied by actnfity. The costs of each activity are rnade
up of the total of direct costs and shaied costs, induding support cost5 involved In undertaking each activity.
Direct costs attiibutable to a single activrty are allocated directly to that activity. Shared costs which contribute
to more than one activity and support costs which are not attributable to a single activity are apportioned
between those activities on a basis consistent with the use of reSoUr￿s. Central staff costs are allocated on
the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Page 15

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
Accounting policies Icontinuedl
2.4 Expenditu￿ Icontinuedl
Support Costs are those costs incurred directly in support of expenditure on the objects of the company.
Governance wsls are those in connection with 8dminislralion of the Charity 8nd Complian￿ with conslitLrtion81
nd statutory requirernent5.
Support costs are those costs incurred directly in support of expenditure on the objects of the company.
Govemance costs are those incurred in connection with administration of the Charity and Complian￿ with
constitutional and statutory requirements.
Expenditure on charitable activities is incurred on directly undertaking the activities whith further the
Companys objectives. as well as any associated support costs.
All expenditure is incluswe of irrecoverable VAT.
2.5 Government grants
Government grants received as a Tesult of the Coronavitus Job Retention stheme 8re recognised as income
when the charity is entitled to the rnoney.
2.6 Tangible fixèd assets and deprèeiation
Tangible fixed assets costing £500 or more are caprftalised and recognised when future economic benefits are
probable and the cost or value of the asset can be measured reliably.
Assets held at September 1996 are shown at deemed cost. Other tangible fixed assets are initially recognised
at cost. After recognition, under the cost rnodel. tangible fixed assets are measured at cost less accumulated
depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its
intended working condition should be included in the measurernent of cost.
Depreci8tion is charged so as to allocate the cost of tsngible fixed assets less their residual value over their
estimated useful lives, using the straight-line method.
Depre￿￿tiOn 15 piovided on the following ba5es'.
Freehold buildings
Sports Complex
Motor vehicles
Fixtures and fittings
Computer equipment
10k Straight Line
1.33¢10- 100/0 Straight Line
25°/o Straight Line
10°/0 Straight Line
20°/o Straight Line
Page 16

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
Accounting policies Icontinuedl
2.7 Liabilities and provisions
Liabilitie5 are recognised when there is an obligation al the Balance Sheet date as a result of a past event, il is
probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement
can be eslitnated ieliably.
Liabilities are recognised at the amount that the Company antiapates it will pay to settle the debt or the amount
it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to setde the obligation. Where the effect
of the time value of money is material. the provision is based on the present value of those amounts,
discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the
discount is recognised in the Statement of Financial Activities as a finance cost.
2.8 Operating leases
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis
over the lease lerrn.
2.9 Pensions
The Cornpany operate5 a defined contribution pension schetne and the pension charge repie5ents the
amounts payable by the Ctstnpany to the fund in iespect of the year.
2.10 Fund aceounting
General funds are unrestricted funds which are available for use at the discretion of the Governors in
furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or
which have been raised by the Company for particular purposes. The costs of raising and administering such
funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to
the financial statements.
Investrnent income, gains and losses ale allo¢*ed to the appropriate fund.
Critical aeeounting èstimatès and arèas of judgm•nt
Estimates and judgments are continually evaluated and are based on historical experience and other factors,
induding expectations of future events that are believed to be reasonable under the circumstances.
There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying
amounts of assets and liabilities within the next finanaal year
Page 17

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
Income from donations and legacies
Unrestricted
funds
2020
Restricted
funds
2020
Totsl
fundB
2020
Tol81
fvnds
2019
Donations
Government grants
2,500
2,500
194,7S2
9,090
194,752
194.752
2,500
197,252
9,090
Total 2019
7,860
7,230
9,090
Government grants received during the year are in relation to the Coronavirus Job Retention Scheme. Other forms
of government assistance have been used during the year as a result of the coronavirus pandemic, induding the
deferral of employment taxes and social security payments.
Income from charitable activities
Unrestricted
funds
2020
Totsl
fund
2020
Tol81
funds
2019
Fees
3,585,783
89.751
3.585,783
89,751
4, 188, 714
179.921
Other
3,675,534
3,675,S34
4,368,635
Total 2019
4,368,635
4,368,635
Inve¥tsnent incorne
Unrèstrict8d
funds
2020
Total
funds
2020
Totèl
funds
2079
Income from property rental
67,288
67,288
98,492
Total 2019
98,492
98,492
Page 18

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
Analysis of expenditure on charitable activities
Summary byfund type
Unrestricted
funds
2020
Restricted
funds
2020
Total
funds
2020
Tot81
funds
2019
Teaching
Weffare
2,849,280
519,188
153.619
804.401
2,500
2.851,780
519,18B
153,619
804,401
3,229,560
563, 734
141,4Q5
867, 740
Bur58rie5
Premises
4,328,488
2,500
4,328,988
4, 795,839
Tot812019
4, 794,609
1,230
4, 795,839
Analysi¥ of expenditure by activities
Activitie¥
undèrtaken
dir8CtIy
2020
Support
eosts
2020
Total
funds
2020
Total
fuftds
2019
Teaching
WeKare
2,408,476
428,282
153,619
626.208
445,304
90,906
2,851,780
519,188
153,619
804,401
3,229,560
563, 734
141,405
867. 740
Bursaries
Premises
178,193
3,614,585
714,403
4,328,988
4, 795,8S9
Total 2019
4,062,424
733,415
4, 795,839
Page 19

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
Analysis of expenditure by activities Icontinuedl
Analysis of direct costs
Totsl
fund
2020
Tol81
funrls
2019
Teaching
2020
Welfare
2020
8ursarie8
Premi8es
2020
2020
Staff costs
2,229,229
71,030
68,861
202.353
39,478
110,462
2.369,120
202,353
39,478
110,462
2,626,350
208.022
36,758
111,747
Depreciation
Rent & Rates
Light & Heat
Repairs &
Maintenan
Establishment
expenses
Garden & Grounds
79,988
79,988
145,849
357,252
36,990
88,078
394,242
88,076
466,045
73,014
Teaching
Expenses
Bur5arie5
177,247
177,247
153,619
254,434
141,405
153,619
2,406,476
428,282
153.619
626,208
3,614,585
4,062.424
Total 2019
2, 747.526
477. 157
741.405
696.336
4.Q62.424
Page 20

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
Analysis of expenditure by activities Icontinuedl
Analysis of support costs
Totsl
fund
2020
Tol81
funrls
2019
Teaching
2020
Welfare
2020
Bur¥aries
2020
Staff costs
181,811
90,906
90,906
36.916
363,623
36,916
64,338
94,909
16,942
7,373
43,057
5,777
5,732
50,371
2S,365
343,902
37.240
67,386
81,441
34,650
tl,622
49,764
15,054
29. 767
42,789
21,020
Depreciation
Telephone & IT
Legal & Professional fees
Motor & Travel
Advertising
Office expenses
Sundry expenses
Bad Debts
64,338
94,909
16,942
7,373
43,057
5.777
5,732
Finance costs
Governance costs
50,371
25,365
445,304
90,906
178,193
714,403
733,415
Total 2019
482,034
85,977
165,4fM
733,415
Auditors. remuneration
2020
2019
Fees payable to the Company's auditor for the audit of the Company's annual
accounts
12,420
tl,270
Fees payable to the CompanW5 auditor in respect of..
All non-audit services not induded above
3,780
6.6QO
Page 21

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
10.
Staff costs
2020
2019
Wages and salaiies
Social security costs
Other pension costs
2.150,400
206,581
375,762
2,440, 725
232,970
297. 757
2,732,743
2,97Q.252
The average numbei of persons employed by the Company during the year was as follows..
2020
2019
Academic Staff
64
66
Non-Academic Staff
15
12
79
78
The nurnber of employees whose employee benefits {excluding ernployer pension costs) exceeded £60,000 was..
2020
No.
2019
No.
In the band 260,001 - £70,000
In the band £70,001 - £80,000
In the b8nd £90.001 - £100,000
The remuneration of key rn8nagement personnel was £386,905 (2Q19.. £425,5Q4?
11.
Governors. remuneration and 8xpens8S
During the year, no Governors received any remuneratitsn or other benefits (2019- £NIL).
During the year ended 31 August 2020, no Govemor expenses have been incurred (2019- £NIL).
Page 22

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
12.
Tangible fixed assets
Fr•èhold
property
Sports
complex
Motor Fixturès and
vehicles
fittings
Computèr
equipment
Total
Cost or valuation
At 1 September 2019
Additions
5,475,694
3,642,672
23,129
880,S02
16,837
468,110 10,490,107
13,665
30,502
At 31 August 2020
S,475.694
3,642,672
23.129
897,339
481,77S
10,520.609
Depreciation
At 1 September 2019
Charge for the year
850.991
51.565
358,820
111.131
23,129
669,029
39,657
376.408
36.916
2,278.377
239.269
Al 31 August 2020
902.556
469,951
23,129
708,686
413,324
2,517.646
Net book value
At 31 August 2020
4,573,138
3,172,721
188,653
68,4S1
8,002,963
Al 31 August 2019
4,624. 703
3.283.852
211.473
91.702
8,211. 730
Page 23

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
12.
Tangible fixed assets Icontinuedl
Included in land and buildings is freehold land at a valuation of £319,047 12019 £319,047) which is not
depreciated.
al In Septernber 1996. the Govemors Valued the freehold 18nd and buildings 8t £1.000.000 and furniture, fittings
and equipment at £110.000. The company has taken advantage of the transitional rules allowed by Financi81
Reporting Standaid 102 and have retained the valuation of land and building5 a5 a deerned cost. It has not been
practicable from the company's recoids to differentiate the 1996 valuation of freehold land and buildings
respectively but depreciation has been charged on 1°/D o1213rd of the valuation as in the opinion ol the Governors
this will provide an acceptable estimate of depreciation. Subsequent additions to buildings are shown at cost and
depreaation is charged on its value.
bl All of the assets of the School with the exception of the minor items of office equipment are used for direct
ch8rit8ble purposes.
cl The Governors are of the opinion that the current market Value of the School'5 18nd and building is substantially
in excess of the figure shown in the accounts. However, it 15 not P055ible to quanttfy the market value without
cairying out a costly revaluation of the School's property. The School's buildings are Current￿ insured at a value of
£14,531,336.
If the land, buildings, fixtuie5 and fittings had not been included at valuation they would have been induded under
the historical cost convention as follows".
2020
2019
Cost
569,006
1173,4111
569,006
(169.6171
Accumulated depreciation
395,595
399.389
13.
Dèbtors
2020
2019
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
86,415
17,1S1
74,541
106,343
tl,991
36,652
178,107
154,986
Page 24

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
14.
Creditors: Amounts falling due within one year
2020
2019
Bank overdrafts
Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
881,544
22,48B
150,944
206,078
67,922
780,185
402, 716
68, 730
246.314
56. 770
66,351
7,ItQ,352
2,109,161
7,951,233
Monies received in respect of future year's fees are as follows.'_
2020
2019
Deferred income at 1 September 2019
Resources deferred during the year
Amounts released from previous periods
1.166,288
729,772
1968,5611
1,249, 722
968,561
(1,051.3951
927,499
1, 166.288
Deferred income inclLJdes £233,863 12019." £197,727) included in Creditors." Amounts falling due after more than
one year (Note 151. Deferred income relates to money received for school fees in advance of future tems and
activities.
Induded within other creditors is £37,43212019'. £34,801) relating to outstanding pension contributions.
15.
Creditors: Amounts falling due after more than one year
2020
2019
Bank ltsans
Other cieditors
572,465
101,369
233,863
559,408
105.222
197. 727
Accxuals and deferred income
907,697
862.357
The bank loans and overdraft linduding 8mounts f811ing due after more Ih8n 1 ye8rl are secuied by 8 first leg81
charge over the freehold land dated 13 June 2007.
Page 25

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
16.
Statement of funds
Statement of funds- current year
Balance at 1
September
2019
Transfer5 Balance at 31
inlout August 2020
Income
Expenditure
Unrestricted funds
Reserves
5,165,487
386,639
3,937,574
14,326,488)
70,456
170,4561
4,847.029
316,183
Revaluation reserve
5,552,126
3,937,S74
14,326.4881
5,163,212
Restricted funds
St Neot's Uniform Club
1,000
2,500
12,5001
1,000
Total of funds
5,553,126
3.940,074
14,328.9881
5,164.212
Statamènt of funds- prior yaar
Balance at
I September
2018
Balance at
31 August
2019
Income
Expenditu
Unrestrlcted funds
Reserves
Revaluation reserve
5,485, 109
386,639
4,474,987
14, 794,609)
5, 165,487
386,639
5,871,748
4,474,987
14,794,609)
5,552, 726
Restricted funds
St Neofs Uniform Club
1,000
7,230
(1,230)
Total of funds
5,872,748
4,476,277
(4. 795,839)
5,553. 726
Page 26

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
17.
Summary offunds
Summary of funds - current year
Balance at 1
September
2019
Transfer5 Balance at 31
inlout August 2020
Income
Expenditure
General funds
Restricted funds
5,552,126
1,000
3,937,574
2,500
{4,326,4881
12,5001
5,163,212
1,000
5,553,126
3.940,074
14,328.9881
5,164.212
Summary of funds - prior year
Balance at
I Seplember
2018
Balan￿ at
31 August
2019
Income
Expenditure
General funds
Restricied funds
5,871,748
1,000
4,474,987
7,2SO
14, 794,609)
(1,230)
5,552, 126
I,ooo
5.872. 748
4,476.277
(4. 795.839)
5,553. 126
18.
Analysis of net assets betsyeen funds
Analysis of net assets be￿een funds- current period
Unrestricted
funds
2020
Restricted
funds
2020
Total
funds
2020
Tangible fixed as5et5
Current assets
Creditors due within one year
Creditors due in more than one year
8,(K)2,963
177.107
12,109,161)
19)7,697)
8,002.963
178.107
12,109,161)
1907,6971
1.000
Total
5,163,212
1,000
5,164.212
Page 27

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
18.
Analysis of net assets betsyeen funds Icontinuedl
Analysis of net assets be￿een funds- prior period
UnRstri¢led
funds
2019
ReslriGled
funds
2019
To181
funds
2019
Tangible fixed assets
Current assets
8,211,730
153,986
11.951.233)
1862,35n
8,27 1, 730
154,986
(1,957.2331
(862,3571
1,000
Creditors due within one year
Creditors due in more than one year
Total
5,552,128
1,OQO
5,553, 126
19.
Reconciliation of net movement in funds to net cash flow from operating activities
2020
2019
Net expenditure for the period las per Statement of Finanaal Activities)
1388,9141
(319,622)
Adjustment¥ for..
Depreciation ch8rg&s
Decreasellincreasel in debtors
Increaselldecreasel in creditors
Interest charge
239,269
11,8251
1263,6711
19,764
245,262
3.913
104,711
33,924
Net cash provlded byllused Inl operatlng actlvltles
1395,3771
67,588
20.
Analysis of cash and cash equivalents
2020
2019
Cash in hand
1881,S441
(402, 716)
Total cash an(1 cash equlvalents
1881,5441
(402, 716)
Page 28

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
21.
Analysis of changes in net debt
At1
September
2019
At 31 August
2020
cash flows
Bank overdrafts repayable on demand
Debt due within 1 year
Debt due after 1 year
1402,7161
168,7301
1559.4081
1478,8281
46,242
113,0571
1881,5441
122,4881
1572.4651
11,030,854)
1445,6431
11,476.4971
22.
Pènsion eommitmènts
The Teaching staff during the year were members of the Department of Education and Skills Superannuation
Scheme which is a defined benefit scheme. The Department instructs the School as to the level of employees,
contributions 17.4°10- 11.7V.l and employerfs contributions (currently 23.68°/.I which the School is obliged to make,
but does not have any commitment to make good an actuarial deficit, nor is it entitled to benefit from surplus funding.
The Scheme is a multi-employer pension scheme and il is not possible to identify the assets and liabilities ol the
Scheme which are attributable to the Charity. In accordance with FRS102 the Scherne is accounted for as a defined
contribution scherne and contributions are accounted for when advised as due by the Scheme Administrator.
11 should be noted th81 the school. following consulation with the leaching staff. exited the Teachers, Pension
Scheme and replaced it with a Defined Contribution Schetne operated by Legal & Gene[81 with effect from 01
Septembei 2020.
Non-teaching staff are members of either the IAPS Pension Scheme which is a defined contribution scheme,. the
school contributes S.4°/u and the employees contribute 2Vo, or the Pension Trust. also a defined contribution scheme
where the school contributes 9-14°/o and the employees contribute 6/0-10%.
Under auto enrolrnent all employees not currently under a pension scheme and who qualify are now members of the
government National Employment Savings Trust., the School ￿ntrIbuteS 1 U/0 and the employees contribute 0.8°1o.
Page 29

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
23.
Operating lease commitments
At 31 August 2020 the Company had commitments to make future minimurn lease payrnents under nOn￿nCe11ab1e
operating leases a5 follows..
2020
2019
Within 1 year
Be￿een 1 and 5 years
98,819
94,220
108, 703
173,327
193,039
281,430
The following lease payrnents have been recognised as an expense in the Statement of Financial Activities..
2020
2019
Operating lease rentals
Changes in lease payments 8rising froTn GOVID-19 ielaled rent (x)ncessions
101,520
103, 769
R•lat•d party transactions
The Company has not entered into any related party transaction during the year, nor are there any outstanding
balan￿$ owing between related parties and the Company at 31 August 2020.
25.
Post balance sheet events
As announced on Wednesday 21 April 2021. St Neot's has entered into a Fomial Collaboration with Lord
Wandsworth College. a respected local Senior School. As a result of this collaboration St Neot's (Eversleyl Limited
has repaid all of its Bank Borrowing and additional fvnding is also available to provide working capital. There will now
be significant C￿OperatIon between the two schools going forward which the Governors believe will 8SSiSt
considerably with control of costs, tnarketing of the School along with recruitment and retention of pupils.
26.
Controlling party
The School is under the control of the Govemors who are the Trustees under Charty law and Directors under
Company law.
Page 30

Docusign En¥ÈlopÈ ID". OOAOF262-OD3F48DC-944F4A17F91F1B48