Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
Company registration number.. 00555144
Charity number.. 307324
GOVERNORS, REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2022
ST NEOTS (EVERSLEY)
LIMITED
(A Company Limited by
Guarantee)
MENZIES
BRloHTEh IAINKINV

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
CONTENTS
Page
Reference and Admlnlstratlve Detslls of the Company, Its Governors and Advlsers
Governors. Report
Independent Audltors, Report on the Flnanclal Statements
Statement of Financial Adivities
9-12
13
Balance Sheet
14
ststement of Cash Flows
15
Notes to the Financial Statements
16-30
The following pages do not form part of the statutory financial statements..
Charity Detailed Income and Expenditure Account and Summaries

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
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 2022
Govemors
Barbara Stanley
Wendy Berry
Peter Geman
Nigel Stoate
Madelaine Best
Daniel Gowan
Rachel Henshilwood (resigned 30 June 20221
Mark Scoggins (resigned 8 December 20221
Barry Bennett
David Hertzell
Giaharn Tongue
Al8St8ir Todd
David Walker (appointed 23 March 20221
James Philpott lappoinled 23 March 20221
Company reglstered
number
00555144
Charity registered number 307324
Registered office and
principal operating office
Sl Neots Preparatory School
Sl Neots Road
Eversley
Hook
Hampshire
RG27 OPN
Head Teacher
Jonathan Slot (appointed 1 September 20211
Independent auditors
Menzies LLP
Chartered Accountants
Cenlium House
36 St8tion R08d
Egham
Suirey
TW20 9LF
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Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
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 2022
Bankers
National Westminster Bank PIC
5 Broad Street
Wokingham
Berkshire
RG40 1AU
Lloyds Bank PIC
174 Fleet Road
Fleet
GU514DD
Solicitors
Field Seyrnour Parkes
The Old Coronerfs Court
1 London Street
PO BOX 174
Reading
Beikshire
RG14QW
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Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
GOVERNORS, REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
ACHIEVEMENTS AND PERFORMANCE
Academic
The teaching and learning at St Neot's continues to go frorn strength to strength. The Prep School Baccalaureate IPSBI is
now fully integrated into the Year 7&8 journey and this skills-based approach has been adapted to run throughout the
school. This is very much the Cutting edge of Prep School curriculum provision and St Neot's has become well known for ils
ex¢ellenoe in this area. We also Continue to enh8n¢e the learning of the children with a wide variety of therne days and
school tiips. The co-curiicular programtne continues to add real breadth to the children's learning experience wrth
timetabled sport, drama, art, DT, music, PE, swimming, and outdoor learning.
The school recorded 12 scholarships to leading senior schools across the year including Wellington College11 academic &
2 dance), Churchers College lacadernicl. Pangbourne Idramal, Farnborough Hill Isportl, Millfield Isportl, Reddam
lacademicl and LWC12 x Sport, Drama. and Design & Technology).
Despite sorne Covid interference. it was great to have a reasonably norrnal teaching year and we have used this to develop
key areas of the teaching provision. A "bring your own device" policy was intrOdU￿d to Year 7&8. the weekly reporting to
paients wa5 impioved. PSB Information booklets were ¢[e8ted for paients, and'life and learning skills" mentoiing sessions
were Introduced for year 5-8.
The school has also introduced a new set of core values," chosen by the whole school communty. These are Honesty,
Happiness, Self-Belief, Respect and Kindness. These are the guidelines for all expectations and behaviours across the
school.
Sport continues to be a central pillar to life at St Neot's. Alongside world class facilities, we have achieved notable success
on the sports pitches. In the Autumn Terrn the U8B & U9B football teams and U8A hockey team had unbeaten seasons
while in the Spring Term. U8A and U9B rugby teams and the U1 OA. U11A and U11 B boys, hockey tearns also enjoyed
unbeaten seasons. In lolal. the Year 3&4 Junior Boys Hockey Record was Played 25, Won 23, Drew 1, Lost 1. In cricket.
having rn8de the extremely positive move lo mixed cricket fixture5 frorn Years >8. the U10A. U9B. U8A. U8B won all their
ricket matche5. In total. the Junior cricket teams- Pl8yed 31. Won 25, Lost 6. The U11 Gills also achieved something quite
xtraordinary by winning the Plate CoTnpetition at national IAPS competitions for hockey, football and cricket. Thi5 would
rank them 9th in the country across 3 sports. There are 162 Prep schools that compete in some of these tournaments and
there are only 15 girls in the year group. This is a considerable achievement.
The music and drama departments have continued to thrive. With parents back watching plays and recitals, the school has
been lifted by the sound of creativity and parents, applause. The drarna department produced two incredible shows.. Peter
Pan for Year 3&4 and Mary Poppins for Years &8. Both were a resounding success. Equally successful were the various
concerts ranging from Drurn Fest to the Autumn, Spring and Summer concerts. All of them were hugely successful.
The 5th001 oontinues to benefit from 8 fun, joyful and uplifting atmosphere, where supportive poients, talented teachers 8nd
polite children have bonded to create a powerful cornrnunity 5Pllit. Nutnbers of pupils on roll also continue to grow.
Community
Putting St Neot's at the heart of the local community continues to be a key strategic aim for the school. For our parents we
run tennis, swimming, football and goll events. Our parents are also a￿ayS welcome on site lor events, matches and the
fortnightly Heads Coffee morning. We integrate into the broader community in the following ways..
We have continued to develop our partnership with Eversley Tennis Club and provide facilities and coaching to its
merrbers.
Three local youth soccer Clubs used the astro tscility for mid-week training
Six local clubs used the school sports h811 for netball training and matches.
Three local cricket clubs used the indoor nets and Finch8nipste8d and Hampshire Cc's have used the School
cricket square for Saturday fixture5.
Rushmoor Royals and Hart Swimming Clubs trained in the school pool each weekday evening.
A local maintained school used our swimming pool during the summer term.
A 'Race for Life charity run took place at the school.
Over £5,000 was raised lor a variety ol charrties.
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Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
GOVERNORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
InfrnStmctU￿ and Estates Management
The School has continued to focus on enhancement and maintenance of the facilities and grounds. With financial support
from Lord Wandsworth College the Pre-Prep department has been refurbished during the summer period.
FINANCIAL REVIEW
The princip8150urce of fvnding is fee income paid by p8ienls.' 8ddilion81 incorne is derived froTn extr8-curricul8r 8clivilies
and the hiring of school ground5 and facilities to local and external agencies. Coming out of Covid and and with growng
interest in the facilities within the local community, this continues to thrive.
Following the appointment of a new Headmaster, Jonathan Slot, 2021-22 was a very Suc￿$$fUl year re.. pupil growth with
numbers rising from 217 to 266 lover 20/0 increasel. This is significantly above the average sector increase. While a defiat
continues to be posted, this trend will lead to posting a surplus in the near future.
Overall the school's income for the year amounted to £3.459,14712021.. £3,456,081). with total expenditure of £4,120.526
12021.. £4.126,8391 amounting to a deficit of £661.37912021. £670.7581.
The School continue5 to Invest heavily in repair5, rnaintenance and grounds upkeep. Expenditure in this area w8S
£194,141.
The Pre-Prep department underwent a refurbishment programme during the Summer holiday, with a total cost of £62,587.
This was supported by Lord Wandsworth College.
RESERVES POLICY
The School's unrestricted funds stood at £3,831.075 at the year-end, wholly utilised as part of the School premises and
equipment provision. Day-lo-day working capital is met by careful man8gernent of short-term liquid resources in the
absence of free reserves. The Governing Board rern8ins mindful of the requiretnenls of SORP 2019 and the need to
stipulate a sultable percentage of free reserves. However. this rnu5t be a realistic figure and dovetail practically wrth the
need to proactively manage the loan from Loid Wandsworth College to ensure new project5 can be sensibly planned. 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
Since April 2021, the school has entered into a Collaboration Agreement with Lord Wandsworth College. School bank
facilitie5 have been repaid in full and LWC offers financial support where necessary. With the appointment of a new Head
from September 2021, pupil nurnbers have continued to rise significantly every term. Robust marketing strategy has
supported this and pupil projections for September 2023, indicate numbers of around 300. Along with an Incie8se in the
faulities hired, this projection continues to show an improved financial picture.
With energy prices stabilising, continued support from LWC and pupil numbers rising, it is predicted that St Neot's will post
healthy surpluses moving forward. The LWC collaboration continues to strengthen and brings greater synergies and
efficiencies in both schools.
Given these improved circumstances, the Governors consider that the charity has sufficient resources to continue in
operation for at least twelve months and well beyond this period, from the date of approval of these accounts.
PLANS FOR FUTURE PERIODS
The collaboration with Lord Wandsworth College has enabled tllany 8ieas of the School to work closely with their
departments, ranging Irotn academic, drama, estate and business services. The synergies fortned have provided Inciea5ed
opportunities for St Neot's pupils.
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Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
GOVERNORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
RISK MANAGEMENT
The Board is responsible for the rnanagement ol risks faced by the School. A Governors, committee regularfy reviews the
major risks to which the charity is exposed and has established systems and proTrdures to manage those risks.
The major risks identified and monitored are.. (from prev year reporti
Inadequate pupil numberslm8rkeling failuie
Failure to recruit and ietain top quality staff and failure to develop and support all employees
Political Risk
IT failure including effect of cyber-attack
Breach of H&S, employment law, accounting rules and regulations, safeguarding & data protection laws
Major environmental catastrophe
Serious health and safety incidents
The key controls used to manage risk include.. (from prev yearl
Formulation of a new Risk Register rne85ured and monitored by the various governing boards.
Terms of Reference for eath Committee and Board
Vetting and reporting procedures as required by law for the safeguarding of children
Comprehensive budget and tnanagement accounting
Regulai review of School poliues
Regular review and testing ol 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 current uncertain political and economic environment and the possible impact that
sudden changes might have on independent schools. This issue is regularfy discussed al Board and Gornmittee meetings.
OBJECTIVES AND ACMVITIES
Aims of the Charity
The Aim of the School is to advance education for children of pre-preparatory and preparatory school age. Scholarships and
Bursaries are awarded where appropriate. The Governing Board sets the poliaes to achieve this Aim, and these are
reflected in the School's website and prospectus.
The School's objectives are achieved as follows..
EduGalion81 Provisio
The B08rd sets out to provide independent pieparatory education at Ever51ey foi boys and gills from the 8ges of 2 years to
13 years. To cope with this substantial age groups, the School is divided into four separate sections. Children aged 2 years
attend the School's creche (finy Tuskersl before piogressing to the Nursery facility at thè age of 3 years. Subsequendy,
children progress through Pre-Prep IReception, Years 1 and 21, before joining the Middle School (Years 3 and 41.
Thereafter, pupils progress to the Main School (Years 5 to 81, where they continue to follow the Pre-senior Baccalaureate,
after which they leave to take up a place in Senior School education.
Child Pmtection
The School's policy is to develop the varying talents of each child to the best in a friendly. supportive and safe environmenl.
This philosophy is taken very seriously, and staff continue to undertake formal child protection training and attend
appropri8le briefing sessions. The Board has appointed a Governor with specific Child Protection responsibilities who works
conjoinlly with the member of the School's Senior Leadership Team iesponsible for such rnatters.
PublNc Benefit
The Govemors have taken due account of the ruling from the Upper Tribunal (Tax and Chancery Chamberl dated 14
October 2011 on the Charity Commission guidance on providing public benefit. The Governors are confident that the School
provides a high quality education in line with its Charitable Objects and access is widened through the bursaries, discounts
and scholarships provision. The Govemors continue to monitor best practice in this area.
The School continues lo support local schools and communities including the use of the swimming pool, tennis courts.
sports hall and crioket pitches. This has en8bled the School to form a closer relationship with the local cornmunity.
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Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
GOVERNORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
In the last academic year, the School extended the use of the pool facility, free of charge, to another local primary school for
the entire academic year. Another local school has also made use of the pool, at no cost, for six weeks over the Summer
term. Additionally, St Neot's continue to host, at no charge, the use of the School grounds for an annual cross country
event, county cricket matches and also tennis courts for a local state school. The School works in collaboration with
Eversley Tennis Club allowing free access to the tennis court5.
Community gioups, including local swirnming, nelb811. foolb811 and tennis clubs for both children and adults. make use of the
facilities thioughoLJt the yeai.
During the holiday period the School offers a holiday club facility via an extemal company for local children as well as St
Neot's children.
The School also has links with a local care home where the pupils sang Christrnas Carols.
lJJfr8StwG1u￿ and Estate Management
The Sohool's objective is to rnaintain its facilities in good order and to expand and enhance these as necessary so as to
keep them up to d8te and with curient educational requirements. subject to appropriate funding. During the ye8r the
intention was to continue to invest in infrastructure, giounds improvernents and general rna1ntenan￿.
STRUCTURE. GOVERNANCE AND MANAGEMENT
The Charity is a Company incorporated under the Companies Act 1948. It is limited by guarantee and does not have share
capital. Its Memorandum, Artides of Association and Certificate of Incorporation were issued on 27th September 1955.
Revised Artides were adopted with effect from 22 September 2016. Following the School's Collaboration with Lord
Wandsworth College. the Articles were further revised on 15th April 2021.
The Governors who served the Company during the year were as follow5=
Barbara S13nley
Wendy Berry
Peter German
Nigel Stoate
Madelaine Best
Daniel Gowan
Rachel Henshilwood
Mark Scoggins
Barry Bennett
David Hertzell
Graham Tongue
Alastair Todd
David Walker
James Philpott
Ourlng the year the followlng Govemors were appolnted..
Alastair Todd lappointed 2 December 20211
Barry Bennett (appointed 2 December 20211
David Hertzell lappointed on 2 December 20211
Graham Tongue (appointed 2 De￿rnber 20211
David Walker18ppoinled 23 March 20221
James Philpott18ppoiNted 23 March 20221
During the year the following Governor8 reBigned=
Rachel Henshilwood (resigned 30 June 20221
Mark Scoggins Iresigned 8 December 20221
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Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
GOVERNORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
Method ofappointment orelection of Govemors
Governors are recommended for appointment to the Board by other Board members or the School Executive Officers. Upon
consideration of applicants, experience and after an interview with the Appointments and GovernanTr Committee a decision
will be taken by Board members on whether to approve their application. New Governors are briefed on their responsibilities
by the Clerk to the Board and receive a copy of The Essential Trustee Guide" issued by the Charities Commission and a
copy of Guidance for Governors.. issued by the Association of Governing Bodies of Independent Schools and the
Independent Schools, Council.
Indeminity insurance is taken out in respect of the Governors.
Organisational structure and decision making
Board Meetings are held termly, normally three weeks before the end of each term. The meeting receives reports from the
Head and Senior Leadership Team covering all School matters including staff and pupil issues, finanaal and infrastructure
matters., in addition. reports are received from the chair of cornmitlees for.. Finance and General Purpose.. Education..
Marketing,. Health and Safety.. Appointments and Govemance and Risk Management. An additional meeting is usually held
in Septernber. at which the School's Development Plan and any significant future events are formally reviewed. Governing
808rd sponsored policies. such ss Health and Safety and the School's Erneigen¢y Management Plan. are now reviewed by
the appropriate Board committee.
The Board appoints the Head and retains ultimate responsibility for the approval of all future policies and developments and
reviews regularly their impact on the School finances and operations. Within these parameters, all day-to-day operational
matters are delegated to the Head, as appropriate, who is responsible for ensuring the School's Aim, as detailed above, is
pursued.
Remuneration ofKey Management Pe￿o￿ne1
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 perforrllance. This procedure is monitored by the Appointments
and Governan￿ Committee.
STRATEGIC REPORT
The company has chosen in accordance with Section 414CI111 of the Companies Act 20CQ Istrategic 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 Mediurn Sized Companies and Groups (Accounts and Reports) Regulations 2008. This
indudes information that would have been included in the business review and details of the principal risks and
uncertainties.
Governors. responsibilities Ststement
The Governors (who are also directois of St Neot's IEver51eyl Lirnited for the purpose5 of company lawl ale respon51ble for
preparing the Governors Report and financial statements in aecordanee with applicable law and United Kingdom
Accounting Standards Iunited Kingdom Generally A￿pted Accounting Practice).
Company law requires the Governors to prepare finanaal statements for each financial year. Under company law the
Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state
of affairs of the charitable company and ol the incoming resources and application ol resources, including the incorne and
expenditure, of the charitable company for that period. In preparing these financial statements. the Governors are required
to
Select sui18ble 8¢counling policies and then apply them consistently
Observe the rnethods and principles in the Charities SORP
Make judgements and accounting estimates that ale reasonable and piudent
State whether applicable UK AccoLJnting Standards have been followed, subject to any material departures
disclosed and explained in the finance statements
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable
company will continue in operation
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Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
GOVERNORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the
charitable company's transactions and disdose with reasonable accuracy at any time the financial position of the charitable
company and enable them lo 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.
Di¥¢108ure of information to auditor¥
Each of the persons who are Govemors at the time when this Govemors, Report is approved has confirmed that..
So far as that Governor is aware, there is no relevant audit information of which the charitable company auditors are
unaware and
That Governor has taken all the steps that ought to have been taken as a Govemor in order to be aware of any
relevant audit information and to establish that the charitable company's auditors are aware of that inforrnation.
Auditors
Under section 487121 of the Companies Act 2006, Menzies LLP will be deemed lo have been ieappointed 28 days after
these finanaal 5taternent5 were sent to rnernber5 01 28 days after the 18ter date pie5cribed for filing the accounts with the
registrar, whichever Is eailiei.
Approved by order of the members of the board of Governors and signed on their behalf by".
DO¢uS￿d￿d by.
U77DUrE$g4Y￿
David Hertzell
Governor
31-Mar-2023
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Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
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 2022 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 2022 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 Finanaal
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
In auditing the financial statements, we have conclLJded that the Governors, use of the going concern basis of accounting in
the preparation ol the finanual statements is appropriate.
8ased on the work we have perfomed, we have not identified any material uncertainties relating to events or conditions
that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going
concem for a period ol at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Governors with respect to going concem are described in the relevant
sections ol this report.
Other information
The other information comprises the information included in the Annual Report other than the financial slalements and our
Auditors, Report thereon. The Governors are responsible for the other information contained within the Annual Report. Our
opinion on the financial ststements does not cover the olhei information and, except lo the extent olhetwise explicitly stsled
in our report. we do not express any form of assurance condu510n thereon. Our responsibility is to read the other
infoirnation and, In doing so, consider whether the other Information Is materially Inconsistent wth the financial statements
or our knowledge obtained In the couise of the audit, or othetwise appeals to be materially misstated. If we Identify such
material inconsistenaes or apparent material misstatements, we are required to determine whether this gives rise to a
material rnisstatemenl in the financial statements themselves. 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.
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Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
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 Govemors, Report including the Strategic Report for the financial year for which the
financial statements are prepared is consistent with the financial staternents.
the Governors, Report and the Strategic Report have been prepa18d in accord8nC8 Wlth applic8ble legal
requirements.
Matters on whieh w8 are r8quired to report by 8xeeption
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 misststements in the Govemors, 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 finanrial statements are not in agreement with the accounting records and relums.. or
certain disclosuie5 of Governors, rernuneration specified by law are not made., or
we have not re￿Ived all the information and explanations we require for our audrft.
Responsibilities of truBt•e#
As explained more fully in the Governors, Responsibilities Statement, the Govemtsrs (who are also the directors of the
charitable company for the purposes of company lawl are responsible for the preparation of the finanaal statements and for
being satisfied that they give a true and fair view, and for such internal control as the Governors determine is ￿e￿ssary to
enable the preparation of financial statements that are free from material misstaternent. whether due to fraud or error.
In preparing the financial statements, the Governors are responsible for assessing the charitable companys ability to
continue as a going concern, disclosing. as applicable, matters related to going concern and using the going con￿rn basis
of accounting unless the Governors either intend to liquidate the charitable company or to Qease operations. or have no
reslistic altern8tive but lo do so.
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Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ST NEOTS
(EVERSLEY) LIMITED (CONTINUED)
Auditors. responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
misstatement. whether due to fraud or error, and lo 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 arise from fraud or error and are considered
material if, individually or In the aggregate, they could ieasonably be expected to influence the economic decisions of users
taken on the basis of these financial statements.
Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design protsdures in line with
our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent
to which our prO￿dureS are capable of detecting irregularities, including fraud is detailed below..
The Charity is subject to laws and regulations that directly affect the financial statements induding financial reporting
legislation. We determined that the following laws and regulations were most significant including the Charities Act 2011,
Safeguarding Vulnerable Groups Act 2006 and employment law. We assessed the extent of compliance with these laws
and regulations as part of our procedures on the related financial statement items.
We understood how the Charity is complying with those leg81 and regulatory frameworks by making inquiries to
management and those responsible for legal and compliance procedures. We corroborated our inquiries through our review
of board minutes.
The engagetnent Partner 8sse55ed wh8ther the engagement team collectively had the appropriate competence and
capabilities to identify or iecognise non-complianee with law5 and iegulation5. The a5sesstnent did not identify any issues in
this area.
We assessed the susceptibility of the Charity's financial statements to material misstatement, including how fraud might
occur. We considered the opportunities and incentives that may exist within the organisation for fraud and identified the
greatest potential for fraud in the following areas., posting of fraudulent journal entries, authorisation, processing. and
payment of fraudulent expenses and timing of revenue recognition.
Audit procedures performed by the engagement team included..
Idèntifying and assessing thè design effectiveness of controls management has in pla￿ to prèvent and detect fraud",
Understanding how those charged with goverrnan￿ considered and addressed the potential for override of controls or
other inappropriate influence over the financial reporting process",
Challenging assumptions and judgments made by management in its significant accounting estimates,. and identifying and
testing journal entries, in particular any joumal entries posted with unusual account combinations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading
to a material rnisstatement in the financial staternents or non-cornpliance with regul8tion. This risk increases the more that
cornpli8nce with 8 law or regulation 15 rernoved from the events and transactions reflected in the financial slalemenls, as we
will be less likely to be￿me aware of instances of non-cornpliance. The risk is also greater regarding iriegul8rities occurring
due to fi8ud rather than eiror, 85 fraud involves intention81 concealTnent. forgery, collusion, ornission or tllisrepresent8tion.
A further description of our responsibilities lor the audit of the financial staternents 15 located on the Fin8nci81 Reportin9
Council's website at." www.frc.o
.uklauditorsres
onsibilities. This description forms part ol our Audittsrs, Report.
Page 11

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
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 company's members, as a body, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we Might state to the charitable companls members
those matters we are required to state lo them in an Auditors. Report and for no other purpose. To the fullest extent
perrnitted by law, we do not ac￿pt or assume responsibility to anyone other than the charitable company and its merllbers.
as a body, for our audit work, for this ieport, or for the opinions we have formed.
Do¢uS￿nId by..
634F240E92A4471
Janice Matthews FCA (Senior Ststutory Auditor)
for and on behalf of
M8nzias LLP
Chartered Accountants
Statutory Auditor
Centrum House
3e station Road
Egharn
Surrey
TW20 9LF
Date.. 31-Mar-2023
Page 12

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2022
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Total
fuftds
2021
Note
Ineom8 from..
Donations and legacies
Charitable activities
Investments
lQ,262
3,394.280
51,539
3,366,940
92,207
3,366,940
92,207
Total incornè
3,459.147
3,459.147
3,456,081
Expenditure on..
Charitable activities
4,120,526
4,120,S26
4, 126,839
Totsl expenditure
4,120,526
4,120.526
4, 126,839
Net movement in funds
1661,3791
1661.3791
(670, 7581
Reconciliation of fund5:
Total funds brought foNard
Net movement in funds
4,492,454
1661,3791
1,000
4,493,454
1661,3791
5, 164.212
(670, 758)
Total funds earrièd forward
15
3,831.075
1.000
3,832.075
4,493,454
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 16 to 30 form part of these financial statements.
Page 13

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER. 00555144
BALANCE SHEET
AS AT 31 AUGUST 2022
2022
2021
Not*
Fixed assets
Tangible assets
7,662,230
7, 789,909
7,662,230
7, 789,909
Current assets
Debtors
Cash at bank and in hand
12
141,096
544,145
113.666
259,535
685,241
373,201
Creditors.. amounts f811ing due wrthin one year
13
11.459,0811
11,396,977)
Net current liabilities
1773,8401
(1,023, 7701
Total assets less current liabilities
6,888,390
6, 766, 139
Creditors.. amounts falling due after more than
one year
14
13,056.3151
(2,272,6851
Totsl net asset8
3,832.075
4,493.454
Charity funds
Restricted funds
15
1,000
Unrestricted funds
Gener81 funds
Revaluation reserve
15
3,S18,638
312,437
4, 176,271
316, 183
Total unrestricted funds
15
3,831.075
4,492,454
Total funds
3,832.075
4,493,454
The Governors acknow18dg8 th81r responsibilities for cotnplying with the r8quif8Tnents of the Act wth 185pect to accounting
records and preparation of finanual statements.
The financial statements were approved and authorised for issue by the Govemors and signed on their behalf by".
Date..
31-Mar-2023
The notes on pages 16 to 30 form part of these financial statements.
Page 14

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2022
2022
2021
Cash flow8 from operating activities
Net cash used in operating activities (Note 171
131,2431
(426.3561
Cash flows from investing activities
Purchase of tangible fixed 8ss8ts
1109,1471
(71, 7211
Net cash used in investing activities
1109,1471
171,7211
Cash flows from financing aetivitiès
Cash inflows from new borrowing
Repayments of borrowing
Interest paid
425,000
2,236.QQO
(594,953)
(1,8911
Net ¢a¥h provided by finan¢ing a¢tivitie¥
425,000
1,639.156
Change in ¢a¥h and ¢a¥h equivalents in the year
Cash and cash equivalents at the beginning of the year
284,610
1,141.079
259,S35
(881,544)
Cash and cash èquivalènts at tha ènd of tho yèar INotos 18 & 191
544,145
259,535
The notes on pages 16 to 30 form part of these financial statements
Page 15

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
General Informatlon
St Neot's (Eversleyl Limited is a private company limited by guarantee incorporated in England and Wales,
registered number 00555144. Details of the registered office and principal activities can be found on page 1.
Accounting policies
2.1 Basis af prèparation of finaneial statsmènts
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting
and Reporting by Charities.. Statement of Recommended practi￿ applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021 leffeclive 1 January 20191, the Financial Report4ng Standard applicable in the UK and Republic of
Ireland IFRS 1021 and the Companies Act 20C6.
St Neots (Eversleyl Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities
are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting
policy.
2.2 Going concern
Following the fortnal collaboration agreernent with Lord Wandsworth College and the ensuing repayment of all
bank boirowings and provision ol working capital, the Governors are confident that the School is a Going
Concem 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 receivable, grants and charges for services and use of premises are accounted for in the period in which
the service is provided. Fees receivable are stated after deducting allowances. and other remissions allowed by
the Schools. but are stated before bursaries awarded. Bursaries are shown as a cost in the period in which
they 8re utilised to pay school fees.
Grants are included in the Statement of Fin8nci81 Activities on 8 receivable basis. The b818nce of income
received for specific purpose5 but not expended during the period Is shown in the relevant fund5 on the
Balan￿ Sheet. Where income is received in advance of entitlement of receipt, Its recognition is deferred and
included in credittsrs as defeired income. Where entitlement occurs before income is received, the income is
accrued.
2.4 Expendlture
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third
party, it is probable that a transfer of economic benefits will be required in settlement and the arnounl of the
obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are rnade
up of the total of direct costs and shared costs. induding support costs involved in undertaking each activity.
Direct costs altribulable to a single activity are allocated directly lo that activity. Shared costs which contiibule
to more than one activity and support costs which are not attributable lo a single 8divity are 8pportioned
between those 8Ctivities on a basis consistent with the use of resources. Cential staff costs are 8llocated on
the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities whith further the
Companls objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 16

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Accountlng pollcles Icontlnuedl
2.5 Government grants
Government grants received as a result of the Coronavirus Job Retention scheme are recognised as income
when the charity is entitled lo the rnoney.
2.6 Tangible fixed assets and depreciation
Tangible fixed 8$sets costing £500 or more are capfcalised and recognised when future economic benefit5 are
probabl& and th8 Cost or value of the 8SS8t can be rn8asured reliably.
Assets held at September 1996 are shown at deeTned c05t. Other tangible fixed assets are initially recognised
at cost. After recognition, under the cost model, 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 measurement of cost.
Depreaation is charged so as to allocate the cost of tangible fixed assets less their residual value over their
estimated useful lives, using the straight-line method.
Depreaation is provided on the following bases..
Freehold buildings
Sports Complex
Motor vehi¢le5
Fixtuies and lrttings
CompLrter equipment
1 /¢ Straight Line
1.33°/ty- 1001¢ Slraighl Line
25°/o Sliaight Line
10Q/o Stiaight Line
20¢10 Stiaight Line
2.7 Cash at bank and in hand
Cash at bank and in hand indudes cash and short-tem highly liquid investments with a short maturity of three
months or less from the date ol acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is
probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement
can be estim8ted reli8bly.
Liabilities are recognised al the arnounl that the Gotnpany anlicip8les il will pay to settle the debt or the amount
it has received as advanced payments for the goods or service5 It must provide.
Provisions are measured at the best e5titnate of the amounts required to setue the obligatitsn. 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
di￿￿nt is recognised in the Statement of Financial Activities as a finance cost.
2.9 Operatlng leases
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis
over the lease terrn.
Page 17

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Accountlng pollcles Icontlnuedl
2.10 Pensions
The Cornpany operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Company to the fund in respect of the year.
2.11 Fund accounting
General funds are unre5tri¢ted funds which are available for use * the discretion of the Governors in
furtherance of th& g8ner81 obj8ctives of th8 Company and which h8V8 not b8en designat8d for other purpos8S.
Restricted funds are funds which are to be used In accordance with specific restriction5 imposed by donors or
which have been raised by the Company for partiCLJlar purposes. The costs of raising and administering such
funds are charged against the specific fund. The aim and use of each restricted fLJnd is set out in the notes to
the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Income from donations and legacies
Unrestricted
funds
2022
Totsl
fundB
2022
Tol81
fvnds
2021
Government grants
to,262
Tot812021
10,262
10,262
Government grants received in 2021 were in relation to the Coronavirus Job Retention Scheme. Other forms of
government assistance were used during 2021 as a result of the coronavirus pandemic, induding the deferral of
employment taxes and social security payments.
Page 18

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Income from charitable activities
Unrestricted
funds
2022
Total
funds
2022
Tol81
funds
2027
F8es
3.239,102
127.838
3.239,102
127,838
3,332, 757
67.523
Other
3,366,940
3.366,940
3,394,280
Total 2021
3,394,280
3,394,280
Investment income
Unrestricted
funds
2022
Totsl
fund
2022
Tol81
funds
2021
Incorne from PToperty rental
92,207
92,207
51,539
Total 2021
51,539
51.539
Page 19

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2022
Totsl
2022
Tol81
2027
Teaching
Weware
Bursaries
Premises
2,530,943
569.741
181,879
837,963
2.530,943
569,741
181,879
837,963
2,629,685
513.289
195,856
788,(￿9
4,120,526
4.120,526
4, 126,839
Total 2021
4, 126,839
4. 126,839
Analysls of expendlture by actSvltles
Activities
undertaken
directly
2022
Support
Costs
2022
Total
funds
2022
Tol81
funds
2027
Te8ching
WeKare
Bursaries
2,098,705
459.005
161.249
698,981
432,238
110.736
20,630
138,982
2.530,943
569,741
181,879
837,963
2,629,685
513.289
195,856
788,009
Premises
3,417,940
702,586
4.120,526
4, 126,839
Total 2021
3.411. 129
715. 710
4. 126.839
Page 20

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Analysls of expendlture by actlvltles Icontlnuedl
Analysis of direct costs
Total
funds
2022
Total
funds
2027
Teaching
2022
Welfare
2022
Bursaries
2022
Premises
2022
Staff costs
1,952,965
30.275
58.771
209,850
45,529
151,276
2,042,011
209,850
45,529
151,276
2, 187.090
202,096
37, 727
93,573
Depreciation
Rent & Rates
Light & Heat
Repairs &
Maintenan
104,330
104,330
107, 164
Establishment
expenses
Garden & Giounds
428,730
39,414
89,811
468,144
89,811
386,497
82,565
Te8ching
Expens8S
Bursaries
145,740
145,740
161,249
125,615
189.402
161.249
2,098,705
459,005
161,249
898,981
3.417,940
3,47 1, 129
Tot812021
2, 780,S23
427,371
t89,402
620,OS3
3,411.129
Page 21

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Analysls of expendlture by actlvltles Icontlnuedl
Analysis of support costs
Total
funds
2022
Total
funds
2027
Teaching
2022
Welfare
2022
Bursaries
2022
Premises
2022
Staff costs
214,084
90.106
90.106
26,976
394,296
26,976
61,841
341.857
3Q,271
44,220
Depreciation
Telephone & IT
Legal &
Professional fees
61,841
14,999
19,734
10,942
38,050
9.025
17,665
20,630
6,755
18,513
14,999
19,734
10,942
38,050
9,025
17,665
83,790
6,755
18,513
71,860
28,181
6,602
44,942
4.812
43,608
71,603
6,643
27,711
Motor & Travel
Advertising
Office expens85
Sundry expenses
Bad Debts
Finance costs
Life Insuran￿ fees
Governance costs
20,630
20,630
21,900
432,238
110,736
20.630
138,982
702,586
715. 710
Total 2021
449.362
97,918
6.454
167.976
715.710
Page 22

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Auditors. remuneration
2022
2027
Fees payable to the Companrfs auditor for the audit of the Company's annual
accounts
14,160
t2,900
Fees pay8ble lo the Companys auditor in respect of..
All non-audit services not induded above
4,290
3.900
Staff costs
2022
2021
Wages and $8laries
Social security costs
Defined contribution pension costs
2,023,684
175,396
237,227
2,083.533
187,572
257,842
2.436,307
2,528,947
Induded in wages and salaries were redundancy payments of £43,91812021 £Nill.
The average number of persons employed by the Company during the year was as follows..
2022
No.
2027
No.
Academic Staff
57
60
Non-Acadetnic St8ff
12
68
72
The nurnb8r of employe85 wh058 employ88 b8n&fits lexclLJding ernploy8f P8nsion costs) exce8ded £60,000 was..
2022
2027
In the band £70,001- £80,000
In the band £80,001 £90,000
In the band 290,001 - £100,000
The remuneration of key management personnel was £306,206 (2021.. £421,370)
Page 23

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
10.
Governors, remuneratlon and expenses
During the year, no Governors received any remuneration or other benefits (2021- £NIL).
During the year ended 31 August 2022, no Govemor expenses have been incurred (2Q21- £NIL).
11.
Tangible fixed assets
Freehold
property
Sports
complex
Motor Flxtures and
vehicles
fittings
Computer
equipment
Total
Cost or valuation
At 1 September 2021
Additions
5,475,694 3,642,672
62,587
23,129
912,468
32,369
485,959
14,191
1354.5871
10,539,922
109,147
13S4,5871
Disposals
At 31 August 2022
5.538,281
3.642,672
23,129
944,837
145.563
10,294.482
Depreciation
At 1 September 2021
Charge for the year
On disposals
954,121
51,565
580,039
114,605
23,129
749,129
43,680
443,595
26,976
1354,5871
2,750,013
236,826
1354,5871
At 31 August 2022
1,005,686
694,644
23,129
792,809
115,984
2,632,252
Net book value
At 31 August 2022
4,532,595
2,948,028
152,028
29,579
7,662,230
At 31 August 2021
4,521.573
3,062,633
763,339
42.364
7, 789,9L)9
In Septernber 1996, the Governors valued the freehold land and buildings at £1,000,000 and furniture, fittings and
equipment at £110,000. The company has taken advantage of the transitional rules allowed by Financial Reporting
Standard 102 and have retained the valuation ol land and buildings as a deemed cost. It has not been practicable
from the cornpany's records lo differentiate the 1996 valuation of freehold land and buildings respectively bul
depreciation has been charged on 1 Tr/¢ of 213rd of the valuation as in the opinion of the Governors this will provide
an 8ccept8ble estirnate of depie¢i8lion. Subsequent additions lo bLJildings 8re shown 8t cost and depreciation is
charged on its value.
The ￿rryIng arnount under the cost model of the assets which have been revalued would have been £388.008
12021- £397,801?.
The Govemors are of the opinion that the current m8rket value of the Sthool's land and building is substantially in
excess of the figure shown in the accounts. However, It is not possible to quantify the rnaiket Value without Carrying
out a costly revaluation of the School's pioperty. The School's bLJildings are cuiiently insuied at a value of
£14,531,336.
Page 24

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
11.
Tanglble fSxed assets Icontlnuedl
Induded in land and buildings is freehold land at a valuation of £319,047 (2021 £319,047) which is not
depreaated.
Assets with a net book value of £7,423,56912021 £7,584,206) are held as security for liabilities
12.
Debtors
2022
2027
Due within onè yèar
Tiade debtois
75,491
21,701
43,904
65,358
26. 767
21,541
Other debtors
Prepayments and accrued incorne
141,096
It3,666
13.
Creditors- Amounts falling due within one year
2022
2027
Other loans
Trade creditors
Other taxation and soaal sècurity
Other cieditors
Accruals and deferred income
136,000
88,638
46,376
69,162
1,118,905
136,000
61,282
308,337
74,421
81Q.931
1,459,081
1,396,971
Monies received in Tespect of future year's fees are as follows.'_
2022
2027
Deferred income at 1 September 2021
Resources deferred during the year
Atnounts released fiotn previous periods
853,260
1.295,497
1768,9251
921,499
679,397
(693,6361
1,379,832
853.260
Deferred income indudes £336,910 (2021 - £84,335? induded in Cieditors". Amounts falling due after more than
one year (Note 141. Deferred income relates to money received for school fees in advance of future tems and
activities.
Page 25

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
14.
Credltors: Amounts falllng due after more than one year
2022
2021
Olher198ns
2,633,336
86,069
336,910
2, 10Q.QQO
88.350
84,335
Other creditors
Accruals and deferred income
3,056,315
2,272,685
The other loans are secured by a first legal charge over the freehold land dated 19 April 2021.
15.
ststement of funds
ststement of funds- ¢urrent year
Balance at 1
Septemb8r
2021
Balance at 31
Expanditur& August 2022
Incom•
Unrestricted funds
Reserves
Revaluation reserve
4,176,271
316,183
3,459,147
14,116,780)
13,7461
3,S18,638
312.437
4,492,454
3,459,147
14,120,526)
3,831,075
Restricted funds
St Neofs Uniform Club
1,000
1.000
Total of funds
4,493,454
3,459.147
14,120,526)
3,832,075
Page 26

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
15.
Statement of funds Icontlnuedl
Statement of funds- prior year
Balance at
I Seplember
2020
Balan￿ at
31 August
2027
Incon
Expendilut
Unrestricted funds
Reserves
4,847,029
316, 183
3,456,081
14, 126,839)
4, 176,271
316,183
Revaluation reserve
5, t63,212
3,456,081
14, 126,839)
4,492,454
R•$trict•d funds
Sl Neot's Uniform Club
1,000
Totsl of fund8
5, 764,212
3,456,081
{4, 126,839)
4,493,454
16.
Analysis of net assets between funds
Analysi$ of net assets between funds- current year
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Tangible fixed assets
Current assets
Creditois due within one year
Creditors due in more than one year
7,862,230
684,241
11.459,0811
13.056.315)
7,662,230
685.241
11,459.0811
13,056.3151
1,000
Total
3,831,075
1,000
3,832.075
Page 27

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
16.
Analysls of net assets between funds Icontlnuedl
Analysis of net assets be￿een funds- prior year
un￿stricted
funds
2027
Restricted
funds
2021
Total
funds
2027
Tangible fixed assets
Current assets
7, 789,909
372.201
(1,396,971)
(2,272,685)
7, 789,909
373.201
(1,396,971)
(2,272,685)
1,000
Creditors due within one year
Creditors due in more than one year
Total
4,492,454
1,000
4,493,454
17.
Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles
2022
2021
Net expenditure for the y88118s p8r Statem8nt of Financial Activities)
1661,3791
(670, 758)
Adjustments for..
Depreciation charges
Decreasellincreasel in debtors
Increaselldecreasel in creditors
Interest charge
236,826
127,4301
338,219
82,521
232,367
64,441
(80, 112)
21, 706
Net cash used in operating activities
131,2431
(426.3561
18.
Analysls of cash and Cash equlvalents
2022
2021
Cash in hand
544,145
259,535
Total cash and cash equivalents
544,145
259.535
Page 28

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
19.
Analysls of changes In net debt
At1
September
2021
Other non-
cash At 31 August
changes
2022
Cash flows
Cash at bank and in hand
259,53S
1136,0001
12.100,0001
284,610
544,145
1136.0001
12,633.3361
Debt due within 1 year
Debt du8 after 1 y88r
1425.0001
1108,3361
11,978,465)
1140,3901
1108,3361 12,225,191)
20.
Pension commitments
Teaching staff are members of a defined contribution scheme operated by Legal & General. The School oonlribules
16°/o 8nd the employees conliibules between 4Tr/o-8'h.
Eligible non-teaching staff are members ol a defined contribution scheme operated by the Pension Trust. The school
contributes 9¢/D and the employees contribute between 6Q/o-10¢/0.
Under auto enrolment all employees not currently under a pension scheme and who qualify are now members of the
government National Employment Savings Trust,. the School contributes 3 /0 and the employees contribute 5°/,.
21.
Operating lease Gommitments
At 31 August 2022 the Company had commitments to make future minimurn le8se payrnents under non-cancellable
operating leases as follows..
2022
2021
Within 1 year
Be￿een 1 and 5 years
65,999
79,019
106,441
145,016
145,018
251,457
The following lease payments have been recognised as an expense in the Statement of Financial Activities..
2022
2021
Operating le8se rertsls
106,441
134.624
Page 29

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
22.
Related party transactlons
The Company has not entered into any related party transaction during the year, nor are there any outstanding
balances owing between related parties and the Company at 31 August 2022.
23.
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." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2022
2022
2022
2021
2021
Income
Tuition fees
Other income
Letting fees
Furfough income
3,239,102
127,838
92,207
3.332.757
61,523
51,539
10,262
3,459.147
3,456,081
Gross income in the reporting period
3,459,147
3,456,081
Les8'.
DI￿¢1 charitsble expenditure
Wages & salaries
National insurance
1,669,166
159,343
213,502
145,740
468,144
151,276
104,330
209,850
161,249
135,340
1,864, 197
759, 183
229,143
125.615
347.377
93,573
107, 164
202,096
189,402
93,379
Pen510n costs
Teaching expenses
Establishment costs
Light & Heat
Repairs & maintenance
Depreaation
Bursaries
Othei direct costs
3,417,940
3,411. 729
Page 31

Docusign En¥ÈlopÈ ID." FSC23EF4-AF52-4DDC-BDD&94279482A9CE
ST NEOTS (EVERSLEY) LIMITED
(A Company Limited by Guarantee)
INCOME AND EXPENDITURE ACCOUNT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
2022
2022
2021
2021
Support costs
Wages & 5al8ries
National Insurance
Pension costs
Bad Debts
Depreaation
Audrft & accountancy
Offic8 costs
338,464
32,108
23,724
17,665
26,976
18,513
115,671
14,999
83,790
19,734
10,942
284.769
28,389
28,699
43,608
50,271
21,117
100,617
71,860
71,603
28, 187
6,602
Legal & professional
Bank charges & interest
Motor expenses
Marketing
702.586
715, 710
Total expenditure
4,120,526
4,126,839
N•t *xpanditur8 for th8 rèporting ￿rI0￿
1661.3791
1670.7581
D•fieit for th• rèporting pèriod
1661.3791
(670, 7581
The notes on pages 16 to 30 form part of these financial statements.
Page 32