Financial Statements Durlston Court School Trust Limited For the Yoar Ended 31 August 2021 Saffery Champness C H Afl T E R E D ACCOUNT ANTS Charity no. 307325 Company no. 1091930 Durlston Court School TTUSt Llmlted Flnanclal statements for the ye•r ended 31 Auyust 2021 Index to the financial statements Report of the Governors Report of the Indopandent audltor 9-12 Prfnclpal accountlng pollcles 13-15 statement of flnanclal acthrltle5 16 Balance sheet 17 Cash flow statement 18 Notes to the financial statements 19-25 Durl$tM Court School TN$t Llmltod Flnatt¢lal statements lor the year ended 31 August 2021 Report of the Governors The Governors are pleAsed to present their report together with the audited finanaal statements for the yeat ended 31 Èlugust 2021. Reference and admlnl$1ratl￿ dotalls of tho Charlty. Its Trust•o$ and Advlsorn Durlston Court School Twst Limited (The Chatity) was regjstered with the Charity Commission in 1973 under charity number 307325. The Charity was Inco￿Orated under company number 1091930 on 23 Januw 1973. Registered office Durlston Coutt School, Becton lane, Barton-on-sca, New Milton, H2mp$hire, BH2> 7AQ. Governors The Govertiors who have served during the pttio(L to the date of this report were as Eollows.. Mr C C Ashfield (Chaitinan) Mrs Bolam Mr M G Cooke Mr P Ethetidge Mr P Hardy- retired 31,, August 2021 Dr J Hickey Mr5 N James Mr C G Lewis (Deputy Chairman) Mrs L Otten Mr R Porter Mr R WilsFLer- resigned 1st December 2020, reappointed effective l%t September 2021 Senior officers Mr R P May (E4eadmaster) bfr A R Thomas (Bi]rs8r ind Clerk to the Governors) - resigned 1st December 2020 Mr R Wi15her (It)terim-Bursar) - appointed 2nJ December ?020, resigned 31"Jul} 2021 Mr B Bates (Bursar And Clerk to the Governors)- appointed 15¢ August 2021 Banker8 Bardays Bank plq Barclays Hous& Ocean Way, Southampton, S014 2ZP Auditofs Saffery Champness LLP, hfjdland House, 2 Poole Road, Boutnemouth, Dorsell BH2 5QY Soli¢itot8 Clarke Wdlmott ILP, Buriington Hovse, Bodeigh CJrange Business Park. Hedge En￿ Southampton, S030 14F Suryeyor8 Clutton8, Portman J4ouse. 2 Portman StreeL London. WIH 6DU Website .durlstoncourLco.uk Durlston Court School Trust Llmlted Financlal statemen1$ for the ytrar ended 31 August 2021 Strnclurei Govomance and Management The Charitys Goyeming DuLumeiil 15 its Memorandum And Articles of Association. dated ?3 JanEJ2ry 1973 land last amendcd 7 November 20061- It 15 a company limited bv gu2fAntee, having no share capitAL and its memb￿5 underrake to contribute an amount not exceedjng £1 each in the event of the Chariry being wound up. The Governor5 arL the Cliaritv % irusree5 and dtreciors and are also collecuvcly referred tn in this reporr &s the GovernmL* Bodi. 'IlJe nuniber of Cioverr)or5 must not bc less than seven ur more th3D thirry. New Govcrnors appointed b} IhL Governiiig Body, 2fter care￿] consideration of ehgibi]it)'. skJls and experience. SuitRble c2ndidate8 may be identified through inrernal recr)mmendation or extemal search. QyOi-Lrnors become MJlLli Ilie coiisiituuiin UVLrAiivii ijf il C.Ii:ii"iii diiuugli A bltuctuzed riinge olirtduction initiative5. The Chariry is a member of .4GBIS which provides access to training opportunitie5 lor Governors. lThe Governots are responsible for the overall managefftcnt OE the Chariry which includes detetmining strategy, e%tablishing ke} policies, setting 9ims and objecuves, agreeing budgets and longer term plans, revie￿ing 2cwal petfomiance a8ain.%t objectiNLS *nd ensuring comp]iance rclevant st8Ntes and regulAtinns. The Governthg Budy meets xt le2St thIee times rach year and 18 supported by four Committees, e#ch ofwhich is chaired by a Guvernor. covtting Finince & Gener41 Pu￿ose$, Education, Marketing 2nd RJ"sk M2nagement. The day-to-day management and related decision¥, ￿thIn the policies and parameters deiermined by the Governors, are delegated io the Headmaster and BUrS￿r who attend the meetitigs of thc Govemors i)nd the C.offln)ittee%. Objgctlves and Actlvltlas The principal objecis Eor which the Chariry was e5tabbshed, a5 set out in its Governing DocLunenL are to promote and proride for the advancement of educ2tiotL, through the operxtion OE a sehool or schools. The prinapat 3ctiiTLry of the Chatity 1% the operauon of Durlston Court School. ￿ independenl co- educational prepatatory school. Pupils are aged between two and thirteen years. Thc principgl aim of the school 15 to provide a happy, secure enNYonmeEJt where pupils benefit Erom an education OE the h¥hest quakn"ti'. to prepare pupiLs academically. culturally and rnorally to enable them to progress cnnfidently to the next stage of rheir educauon. The main objectives fot the vear ended 31 August 2021 related to the qualiry OE the edLTc#tion prorride the awArd OE stholxrships %TLd means-te5ted bursaries, the C.haritrfs involvement with the local community and the Ch#riry's financi￿ posiuon. The Governors seck to achicve these objcctiveb primarily througli effective leadership, a cleRr comtnitment to the h%hest standards OE cducauon, seTh'ice, and f]nancial control. strateglc Roport Achievements and Perfonnancè During the year under revicw the c.harity achieved its in*in ob1LftL￿￿b through effective leadership, a clear Corn￿ltMent to high stwdards, and strong Fisc%1 contml. inspecrion b}T Ihe Indepuidait Schools Inspcctnraie IISII, which t(x)k place in iNla} 2017 rated the school's provision as T.xccUent' in all areas. The impact of C.ovid-19 continued to challenge the school d￿]ng this academic year. A confideni sthrt to the Rutymn tcnn NVAS followed b}. a quick and effickent move tc) the provision of onhne education at the Durlston Court S¢hool Trust Llmlt•d Flnanclal statements for the year •nded 31 August 202 start OE the spring tetm. This ensured 2 seamless dehvery of the curriculum duting the mandatory lockdown. The Chatity coniinued to achieve its objectives of maintaining high standards of education and service, attracting and retsining pupils. and the cffectiveness OF managem¢'nt and fin2nctal control. The key Eactors outside the Chari(fs control that intluence its ability to xchieve its objective5 are the ongoing Cowd 19 p2ndemi¢, uncert2inry of the economic conditions, loca] competition, new legislation and demogrxphic chaoge. Academic 8tandatd8 Durlsioji Court pupi]5 contiiiue to &lchteve grc?£ r AcAdcmic ¢l1?d cdLlOtioiial.%ucce%5. Year 8 le2%'ers secured plocL¥ ai a nutnber of prebtigious senioi. schools rhroughout thL Couiitrir incliiding BCS, Bradfjeld. Canford. Clayesmote, Einblei,, ￿'ng'S College Q2t2r. l' clctnentb ol Ihe C.harity's srratcgy are ihe continued provision ofa high sri?r aptrLi()n-. adL'qu2te 1CCOUntin¥ tcCOL.d5 havt J)ot bLLn kLVt, or iLttJrns adequat¢.Eor our audit hAipe ryoi bccn reivi,d fr()m btsThchcs not visAted by tss. or Ih'e th1gnciAI statEmenrs fiTL:not in gLgLecrncot uryth tbe Accountitlg Iecords and ieturn$' or cettaitt &'Eclosiires of trnqtCC5' rrtnuttLt2tion ¥i?¢cifJed byL1w aie not mad¢ or we havi. iiot rcccivcd all tlii infonjiauou aiid explanatioos ive reyuire ftsL Out Audit. Responsibilities of tnjstces Jl8 explained inore fully its the I'rusiees RespottsibJ]iticÈ stat￿￿ertt get out on PiL ge 7, the tru8ttes (who arc also direct￿$ ol tlie chaL1t.,Ict ?(R)6 and iep()rr itL llCCOtdattce with LEgd2ti(sns made under thiit Jlct. Our.ubjectivc.% fire tO-obrain.re8SQtJable ￿.%S￿anCe ab6ut &vhether the finaticial statemÈnts as ￿ wliolt 2fL &ee. from m2tLii21 mis￿tAte[neDt whcthcr due io fi.Aud ot er.ror. and to Issuc an iudiror'5 report tba't indudets out opinj(In. IleasonablL' a5SUf#fACL its g liigli ItNcl i>f as5urancL, but is not % giJ2f2E ntec thAt AO Audit coaducte£l in acco¥(lanèe with ISAS (U'K) alwxi'li detect k mirerigl mtgstitement it ckists. IV￿$$t￿lLrn￿￿t6 caji ati$e hom Ettiud r>i error atld %te considered material if, individufills, or in the aweg&ce, rhe! ci)uld Ltasuttqbty" bL' e4)ected to influencc tlie ecoiioFlliC decisi()ns UE u8erts tsl%Ln on die bAsi&of these FtsJaLi¢ial statements. liregulatities. indudiiig FrnuQ.Ire inbtances of nO£Lugh management ovettide of Controls by testing the appropriateness of journal entries at)d identifving any significant transAetions that wete unusual or outside the nonnal coutsc of business. Wye isse$sed whether jtjdgements made in making accountsng estimates gave iise to a possible indication of management bias. At the completion stage of the auth't, the engagement partner'5 review included ensuring that the ream had approached their work w&th appropriate professional scepticibm and thus the ￿pacIty to identify non-compij'ance ￿th laws and regulations and fraud. There are Inherent limitations in the audit procedureg desuibed above and the further removed non- compliance with laws and regulations is from the events and transactions reflecied in the fjnancial statements, the le55 ]ikel! we would become *wate oFit. Also. the rÈsk of not dctecting a material miE%tatement due to fraud is higher than the Eisk of not detccting one resulting From error, 2s ￿ud may nvolve deliberate conce21ment by, For example. forgery or intention21 mistepreseatations, or through collusion. A further description of our responsibi]iues is avai12L ble on the Ftnanoal Reporting Council's website att ryvw.Erc.or y . This description Eorms part of our 2uditot's report. Independent auditorfs report to the members of Durlston Court School Trust Limited Use of our zeport "I'hi& rq)ott is mAde svleli, to ilie diiuitablt toinpw]}F'S inembers, Is a body) Itl ¢1ccordonce ￿￿[11 Cliaptct'""3 oEP2rt 16 of the ("offlpJnics Act ?1106. Our audit ivork lias bL>ell yndettglitn so th*t WÉ Lnight State io &Le chariiable thcr ?i.irpn.gc. To th¢ Fullest &%1￿1[ perttiitred bvlgw, we do &lccept' or asbume r&%prf)rtsibility to anyone other tb2n tht Lh￿* Li%blc cumpllii) lind i11c￿ charirabl¢ tothpanys mLJmbets a boLiY, LOL our audit vo¢k, For this rep(IrL or ihc otriniong we hlvt Fotrmed. Nicholas I;em}"h(Ju&trh1Senior Statutory Jluditor) foI and on belulE gf %EfLri C"hampnL&b I.L.P. Cb&iXtL'red ActDEJiiYLnts Stituto4-. .luditors lidland Flou%e ? Poole Iload Boutnemouth IIH2 SQY D*te'. 22 December 2021 %xEfery Lhampaess Ll,P is ehgible to Ct as an auditor in tettns of section 1212 of the Compaoies .Qct 20()() Durljton Court School Trusl Llmlted Flnanclal slatèments for the year ended 31 August 2021 13 Basls of prop•rnllon The accounts have been prepared under the Companies Act 2006 ind in accordance Math the Charities Statement of Recommended Practice ("SORP {FRS102)') and financi21 Reporting Standard 102. The accounts 2re drawn up on the historicaI cost basis of accounting. The School is a Public Benefit Entsty a5 defined by FRSIO2. Having reviewed the fundmg facilities available to the School togethtt with the expected ongoing demand for place5 and the School's ￿tllre projected cash flows. the Governors have a rcasorlable expectation that th¢ School has adquate resources to conunue it5 activities for the foreseeable Euture. Accordingly, they continue to adopt the going concern basis in prep￿ill£ the financial statements. The follouqng accounting polj.cies have been applicd consistent]y in de21in8 With items which are considered mater￿1 in rdauon to the School's finattcial statements. 1.1 Fees and slmllar •arned Income Ftts receivable and charge5 for $ervice5 and use of the premi5e5, less any allowances, 5chol*rship5. Bursaries gtanted by the School against those fees, but including contributions received from restricted funds, are accounted for in the period in wkn'ch the scrvice is providcd. 1.2 Investment incomg Investment income frorn bank balAnce5 and savÈngs accounts are accounted for on an accru21s basis. 1.3 Donat5ons and other voluntary incoming rèsources Voluntary incory resources are accounted Eor Y4S and when entit]ement att￿£S, the amount can be reliably quantified 2nd the economic benefit to the School is considered prob2ble. Voluntary &ncome for the School's general putposes is accourjted for as unrestricted and is credited to the General Rescrve. 1 A Exp•ndlturn ExpendiNre is accrued as soon as a jiabiliry is considered probable, discounted to present value for longer-term ]iabiliues. Expenditure attributable to more than one cost category in Ihe SOFA is apportioned to them otl the basis of the eslimated 2mount attsibutable to each acuviry in the year, either by reference to 5tAEf time or the use rnade of the underlying assets. a5 approptia¢e. lttecoverdble VAT 15 included with the item of expenditure to which it relates. Governance costs comprise the costs oFcompl)ryng with constimuottal and sta￿tOry tequirements. 1.5 Tanglblo Ilxed assets Expenditure on the acquisition. constwction ot enhancement of land and buildllw costitig more than £5,0(K) together Iwith vehicles, Eumiture, machinery. ICT infra8ttuctLtre and other equipment costsng more than £250 artt capitakn5ed and carried in thc balance bheet at historical co*t. JCT equipment costs are Titten ofE incurred. In certain circumstances, where the origmal costs of assets are not ascertainable, a reasonable estitnxte of the cosi IE material, has been used. Other expenditure on equipEnent iticurred in the n(Jmiai day-tTrday nRnning of the School ts charged to the Statement of Financial Activities as incurred. Durlston Court School Trust Limlted Flnanclal stat¢ments for the y•ar ended 31 AugU$t 2021 14 1.6 Depreclatlon Dq)reci2tion is provided to write off the c09t of all relevant tan£ible fixed assets less estimated residual vxiue b25ed on cuttent matkei price8. in cqual annuRI insrAlments over their expected useful ecunomic lives as follows.. School buildin￿, includin2 majar extensions 40 - 50 Alterations on change OE use and minor extension% 10- 25 year5 Furniture. machincry and equiptnent S y(xrs Mrbtr¥r vehirleq S vp2r8 Computer equipment S years No depreciation is provided on freehokl land. Petiodic inJp2irment reviews are carried out. 1.7 Stocks Stocks are Yalued at the lower of co8t and net reaiisablc value. Fund ac¢ountlng The charitable tru%t funds of the School xrc accountcd for as unresrricted or testticted incon]e, ut as endo￿nent capitaL in RccordancL with the iellns of trust imposed by the donors or appeal to which they may have responded. Endowment Eunds are Eurther bubdivided into permanent exp¢nd2bl Unre6tsic￿ income belot)gs to the Scliool's corpornte reserwe5, spendable at the discretion of the Gowemors eithcr to furiher the School's Objects or to beneFit the School itself. Where the Go&ernoIs decide to 6et aside any Piirt of the%e funds to be used in ￿tUre Some 5pecAfic purpose, this is accounted for by transfer to the Apptuprftate deS1￿1￿ted fund. Restricted income comprises gifts, Icgacies and grant4 wheie there is no c•pirai retention obhgauon o pawer but onls a trubt law restriction to qome specific putpose intended by the donot. 1.9 Panslon cost% Retitement benefit5 to emploiee% of thc School are prtsvided thro￿ tliree pension schemes, one der￿ed benefit and two defined contribution. Ihe pension cost8 ch9rgcd itt the Statemeni of Finanaal Acuvities are detcllnitied as follo￿5.. (a) Royal London Pension- Thi5 sclILme ig the nominated pen8ion schemes fot teachers employcd bv the school. EmploJef¥ pension costs are chatged in the period in wliich the 8i1aries to which Ihey relate are payable. O)) The Peoplcs Pen5ioll - Emplo)er'% pensions cubts are chatged in the period in which the 52]arie$ to which the). rtllte Are payable. (cl Pensions Trust %cheme- The costs re12ting to this scheme are outlined in note 17 1.10 Debtor• Trade and other debtors ate recow8ed at the scttlement amount duc after any trade (h'scount oEEered. Ptepayments are valued at the 2mount prepaid net of #ny trade discourlts due. 1.11 Cash at bank and In hand C25h at bank and cash in hand includes cash and short terni highlv knquid investments with a short matutity OE three nionths or less from thc date ol acquisition or openitjg OF the depo¥it or sitnilar account. Durlston Court Schogl Twst Llmltod Flnanclal slatoments lor th• year ended 31 Au9YSt 2021 45 1.12 Credltors and provlslon$ Creditors and provisions are recognised where the charity has a present obli￿tiOn resulting from a past event that ￿lJI ptobably result in the transfer of fimds to a third party And the amount due to settle the obkng*tion can be measured or esrijnated reliably. Creditors and provisions are nornially recognised at their settten]ent amount after allO￿nn8 for any trade discounts due. 1.13 Flnanelal Instruments The trnst only has fmanci21 assets 2nd financial habilities of a kind that qualify 25 b2sic financial insttijments. Basic financial instruments we iniuall}' recognised at transaction value And subsequendy measured at their setdemetlt value Trhqth the excepuon of bank loans which are subsequently measured at amortised cost U52ng the effective interest method. 1.14 Crlllcal estlmates and judgements and key sources of estlmatlon uncertainty In the appbcation of the charity's accounting po]icics, the trustecs are requircd to make judgement, estimates and assumptions about the carrying amrjunt oF2ssets and ]iabiliues that are not readdy apparent from other sources. The estimates are recognised in the period in which the esiimate is revised where the revision aEEects only th2t pety0￿ or in the petiod OF the revis&on 2nd fijture periods where the re￿lS1O effects both current and Euture periods. There aff no critical estimates, judgements or key sources of estimation uncettainty in 2021 or 2020. Durlston Gourt Sclwol Trust Llmlted Financial statements foT year en¢lotl 31 Augugt 2021 16 Statement of financial activities Unrestricted Fuod8 .Notc 2021 lticoming t¢$OlliCCS Incomitigresourcts Frorn chAJitablL &1ctivLtiLS G(3VtmLncnt furlou8h Cjrant &771,090 302P82 1522 838 405,588 Inc(Jming regource& From gcnerttied ￿ndS.. Voiunti?ry iLicr)me Ihvestmentincome 3.056 21.02i Othet inLf)mingresoutCES 8,64ts on 30ik Nov¢mbcL"202I E¥lr C C i%sh&eld aRtiTian.oEGove¢nors frCGL•Yis Ch&yrmall OE Finance ttttd Gcner81 Purposcs Committee The acGompanylng ac¢ountlng polAeles and notes fom1 part of these financlal stat8monts. Durlston Court School Trust Llmited Financial $tatem•nl$ for thè year end•d 31 August 2021 18 Cash flow statement Note 2021 2021 2020 2020 Net ca%h ittflnw / ftom opetoting activities 18 376,494 (63,5(J7) RettErns OD iDV¢Stments and setvicing of finanee Interest rcceived Interest P3id 1,015 {50?35) 10,188 {55.077) (49J20) (44,88()) Capital expenditute Payments to acquire ￿n￿ble fixed assets Proceeds from Sale OEptr)Per￿, plant or equipment {23,656) 750 (68,815) Finoncing Bank loan repayment5 Iftctease / (Decrea8e) iti cash in year (100,249) 204,019 (95.814) (273.115) 19 The acGompanyiny a¢countlng pollcle5 and notes form part of these flnanclal stat¢ments. Ourlston Court School Trust Umlted Flnanclal statements for Ihe year ended 31 August 2021 19 Notes to the financial statements Incomlng resources from charllablo a¢tlvltles 2021 202 School fees and a8s0ciated income: Fees receivable L￿￿. Spting term 2021 Covid fee adjusttnent 2.. Bursaries. $cholarships and other discounts Net fees receivable 3,420.442 (159,810) (602J22) 2,658JlO 3,348,081 (382,875) (5i6,334) IL108,872 Disbursements Extrd ￿ltiOn Entrdnce Eees 96,265 Ll.265 3,250 87,245 23,571 3,150 1522,838 2,77L090 Voluntary income 2020 Voluntary itt¢ome Don2ti0tIs 3.056 21,025 During the yedr donations Eor the purchase of flxed assets amounted to nil (2020-. £18.500) Invastmont Income 2021 2020 Inve8tm¢fjt income Bank dep051t interest 1,0 10,188 other resources exponded 2021 2020 Other tt8OUtces expetsded Interest payable on bank loan see alfo nol¢ 12 Othet interest costs 50201 54,844 233 50,335 55,077 Durlston Court School Trust Limited Financial statements for the year •nd¢d 31 Augu$t 2021 20 Analysis of total resources expended 20 Total 2020 Total Staff costs Other Depteciation Costs of generating funds Adverti%llig and publicity (￿),0?6 iiiJii 107,781 Charitsbk activitie$ SLliuvl vl)CIIIiLig cTr%ts'. Teadll'ng and support costs Carering and support costs Premises Support 2nd admitLiStration Governance cosis 1,767247 101,i27 124265 192,693 l26,?31 L893,478 166J27 471,016 i ()1)8,16() 159,407 31)3,919 289,448 9,745 2,850,688 262,614 107.770 84,137 35,980 2,185,712 i69,798 120,117 2,875,647 Other resources expettded Inrerest payable on battk loan 50.201 50201 Other interes( costs 134 233 iO,33i 50,335 55.077 2,?45,758 671,418 120,117 3,037293 3,013,546 'I"otal re$ources expendd include-. 2021 2020 .luditors' remunerAtion fur audit services 1'.4'r IncrvAse l (Decrease) in Stuck Operaung le%5e renials Professional Indemnity insurance prcmium 7,000 813 6,474 6,b50 (1,33C)) 7,006 664 Employees Staff co%is during the y(xr were xs Eollows.. 2021 2020 Wages and salaries Social security costs Other pen5iOTh Costb (note 17) 812,836 1.924244 145,875 162,680 2S7,047 263,562 1245,758 2,350,486 The average number ofemplojees of the Cliarity during the year was 9i12020: 97). 'The averagc nLunber of full tim¢ equivalent cmpltsyees was 64 (2020.. 66) Onc employee's emoluments. were vjithin the range £80,000 - £90,11(K)12020'. one cmployee ￿rythin the rang¢ L90,000-£IOO,(KI)). The (otal of key management per50ntLel comp¢nsauon was £340.426 (2020.. £3S6,033) Contrib￿￿On$ were made to a defined contribution pen$ion scheme in respect of the hsghest paid employee. Durlston Court 8¢hool fNst Llmited Financial statements l¢*r the year end•d 31 August 202 21 Transactlons wlth gov•rnors and other relat•d partle* No Governots. received remuneration in the year, direcdy or indirect]y from the Charity. In 2021, the total amount of donations received ￿￿thoUt condl'tions from Governors w2s nil (2020: ntl). In 2021 expenses paid on b¢h31f of gorernors to third partie5 amounted to nil1202(1. £405). The total number oEgovernors who incutted expenses was nil (2020.. 1) Tanglble flxed a$$etS Freehold land and buildings Fixture8, Motor fittittgs and vehicks equipment Computet equipment Total Cost At I September 2020 Additiotjs Disposals At 31 August 2021 Depreciauon At I September 2020 Provided ill the year Disposals At 31 Augu8t 2021 Net book ￿nOUnt At 31 August 2021 Net book amount At 31 Augu8t 2020 4,642,370 103,727 458,970 13,680 274,802 9,976 5.479.869 23,656 (22,806) 5,480,719 (22,806) 80.921 4,642.370 471,650 284,778 1.315,100 84.137 90,245 4,734 (22,806) 72,173 429,743 12,389 225,933 18,8)7 2,061,021 120,117 121806) 2.158,332 1.399,237 442,132 244,790 3243,L13 8,748 29,518 39,988 3J22J87 3,327,270 13,482 29,227 48,869 3,418.848 Stocks 2021 2020 Catering provisions and heating fuel 2.055 1,242 10 Debtorg 2021 2020 Trade debtors Other debtors Prepayments aod accwed income 18,191 17298 89.833 42.317 144280 53,345 125J22 239,942 Durl$ton Court S¢hool Trust Limited Flnanclal statem•nt$ for the year end•d 31 August 2021 22 11 Credltors: amounts falllng due wllhln ono y•ar 2021 120 Bank loAns 'I"r2de creditors ocial sec￿lty and other taxes Other creditor8 Accruals and deferred income 104,899 61,750 45,245 36.914 30,483 249.501 3,850 339212 509,7ll 12 Crodltors: amounts falllng du• after more than ono y•ar 2021 2020 Between one and two ye9rs BelwcL￿ two and five yeArs After five years 109,765 384,084 464J55 104.897 344,634 613,i73 958,204 1,063,1(kl Credi"tors.' amounts fath.ng due 26ter more than one year comprises a bank loan secuted over the freehold property wkn.ch Is repa}able b}, December 20?C). The urwnal F￿¢d rAte agreement For this loan expited iti December 2015, to be rq)laced by a new fJxed rate agreement which expires in December 2024. 13 Uability of members The Charity does not havc any share capital. The members, consisting OE ihe Goyemors who are also directors, undcrtake to contribute an 2mount not exceeding £1 ￿dch in the event OE the Chariry beit)g wound up. 'Ihe Charity h25 insurance to cover b()th l)roFes5ional Indemniry 2nd Govemors, Ji&bdity. The cover ts limited to £1,000,000 (2021Tr. LI,000,000). 14 Lea$lng commltments Operating Icase payment$ 2mounting to £3.6(X) (2020.. £6,402) are due wkthin one year. At 31 August 2021, the charity had agsregate to¢81 £ommimients under non-cgncellable operating leases as set out belour. Non-canceuable operating leases which expire.. 2021 2020 Within 2 to 5 yea 10,81KI 15 Capltal commltments 'I'here were no capit31 commitrncnts at 31 Augu%t 20?l oi 31 August ?OW. Gontlngent Ilabllltlos There were llo contingent ]i2bi]ities at 31 Augusi 2021 or 31 August 2020. Durlston Court School Trust Llmlted Flnanclal statements the year ended 31 Auyu5t 202 17 Pensions Teacher8 Pensions 'rhe School previouEI5' p?￿ticAp￿tea in tlie Teaehèrb ljension'schemo (England And 1K1￿C¥} I'%he TPS'?,.'Fot itS"te8ckning ¥tRff, ContLibutiOllS to dLib" gchemc fot tile yeit w%*s ntl. Frotn l%¢ September 20th? ? pension conttibuuon8 For teachets 9te paid tr) Royal London a5 part.of 2 Defined Conuibution Seheme. The amount paid into the schtme E(>L the vext was £251,296, Other Pension Schemes l)en$ion corLtributions e also wid to coiitnbutotl. Iiid non-contllbucory pension sdiernes For diè bellefit OF noii-EeachingstaEE. Non-te8rhing staff may ¢ontribiite to onc OE two monei, putchase pension scheme5. The assets oEthe%e schemes ftrelield Separatety from tho&e of tht sclittol in indcpendendy idn)ittisteted lunds. 'Lle compauy partiCiP2tes in a J)ulti-employet i.themewhid) ptOFidcs benefits tn some 102 A]Oll-. ASSOCL1ted employer8. The scheme 15 2 defjned benefit $chcmcin the UIC It. not POS￿1ble for dje compaos. to obrain sufficieiit ittfortxJ2tion to et12ble it to account Eor di¢ ¥cheme as a defined benefit scheme. ThereEote. it occounts For the scheme Is 2 defined contribuuoii %chem The ¥clieme is siibject to the funditg jcgi512tion outlined in tbe PensÉoLIs &lct 2004 whicli catne into 011 30 Docember 2(Kl). This, together ivith documents. i$siied by the l?Lnsioii¥ Regulator atLd l-cchnical Actu¥Jtial Standards issued by the Financixl Reporting Council, set out the frarncworli fot Lijnding de&ned benefit iv¢ Llie S￿nL rL%idts a5 U5inx a Edl corpor%tc bc>ttd yield ciiTh"e tv Ji8CL)uol. the swlle roc()Feri plan Contributio￿¥. Itt August 2Q16. school stirted its ?uro-enro]menL' Pu￿10￿ scheme with The Peoplcs Peft$ion Eor the bencfityuf All non-trachiiiÈ stftff Mid goins Eonwrds this be ih¢ only pension schtme oFFLrcd. All peJJsion cotitributiots COSL¥are.r¢¢£>gnised in biatementoffjLAntia] activities ag the) bocotne pi}iable. Amoviits owingto PellSlun schcnics at thc i'cat-end amounted Eo £39.?37 (•20.' £30,484).. Durlston Court SchooF Trust LÉmiled Flnancial statements for the year ended 31 AugL•$t 2021 25 18 Roconclllatlon of net Incomlng resources to Tret ¢•sh inftow from opgratlng actlvltles 2021 2020 Net Ittcoming / (Outgoing) reSou￿e5 Nei interest Depteciatson ProFit From sale of properry, p]2nt or equipmenr ncrease) / Decrease in stock Decrease / ancre28e) in debtors Incre2se / (Decrvase) ifl creditots (Decrease) in provisiott Eor pension Net cash ift£low / (outflow) from operating acuviiies 54.760 49,320 120,117 (750) (813) 114,620 42,669 13.429) 376.494 (45,489) 44,889 125,501 lJ36 (104,891 (82,021 (2,9201 (63,597) 19 Reconclllatlon of net cash flow to movern•nt In nat debt 2021 2020 Increase (Decrease) in cash Bank loan repAirynent$ Decrease in net debt Net debt at I September 2020 Net debt at 31 August 2021 204,019 100,249 304,268 {818,3181 {514,050} (273,115) 95.814 {177,301) (641,017) (818,318) 20 Analy313 ol changes In net debt At 31 Aug 2021 Cash flow At I Sep 2020 C2$h at bank 2nd in hand Bank loan 549,053 (1,063,103) (514,050) 204,019 100.?49 345,034 (1,163,352) (818J18) 304,268