| Governors | PGoodfellow | PGoodfellow | (Chair) | (Chair) | D Marsh | ||||
|---|---|---|---|---|---|---|---|---|---|
| M Billington | F Morgan | ||||||||
| CColey-Maud | W Pollard | ||||||||
| EGuest | Rev M Poole | ||||||||
| LJamil | AStembridge | ||||||||
| 0 Legg | AWatson-Lee | ||||||||
| Principal | A McCleave | ||||||||
| Bursar and | Company | Secretary | R Munro | ||||||
| Charity Number | 307328 | ||||||||
| Company | Number | 00733644 | |||||||
| Registered | Office & | Principal Address | Fernhill Lane |
||||||
| New Milton | |||||||||
| Hampshire | |||||||||
| BH25 SSU | |||||||||
| Auditors | TCGroup | ||||||||
| The Courtyard | |||||||||
| Shoreham | Road | ||||||||
| Upper Beeding | |||||||||
| Steyning | |||||||||
| West Sussex | |||||||||
| BN44 3TN | |||||||||
| Bankers | HSBC | ||||||||
| 62 Commercial | Road | ||||||||
| Bournemouth | |||||||||
| BH2 SLR | |||||||||
| Solicitors | Mo ore Barlow | LLP | |||||||
| The Oriel | |||||||||
| Sydenham | Road | ||||||||
| Guildford | |||||||||
| GU1 3SR | |||||||||
| Investment | Advisors | Atomos investments | Limited | ||||||
| 24 Monument | Street | ||||||||
| London | |||||||||
| EC3R 8AJ |
| Page | |||
|---|---|---|---|
| Governors' Report (incorporating |
the Strategic Report) | ||
| Statement ofGovernors' | Responsibilities | ||
| Independent Auditor's |
Report | ||
| Statement of Financial Activities | 12 | ||
| Balance Sheet | 13 | ||
| Cash Flow Statement | 14 | ||
| Notes tothe Accounts | 1S |
| Notes | Unrestricted | Restricted | Total 2023 | Total 2022 | ||
|---|---|---|---|---|---|---|
| INCOME FROM: | E | E | ||||
| Donations and legacies |
1,000 | |||||
| Charitable activities |
7,349,818 | 7,349,818 | 6,992,429 | |||
| Other trading activities |
40,533 | 40,533 | 23,188 | |||
| Investment income |
145,848 | 145,848 | 81,775 | |||
| Otherincome | 53,099 | 53,099 | 21,865 | |||
| Totalincome | 7,589,298 | 7,589,298 | 7,120,257 | |||
| EXPENDITURE ON: | ||||||
| Raismg funds | 15,852 | 15,852 | 13,268 | |||
| Charitable activities |
7,175,490 | 94,253 | 7,269,743 | 6,400,373 | ||
| Total expenditure | 7,191,342 | 94,253 | 7,285,595 | 6,413,641 | ||
| Net income/(expenditure) | 397,956 | (94,253) | 303,703 | 706,616 | ||
| Gains / (losses) on investments | 13 | (4,670) | (4,670) | (402,842) | ||
| Net movement in funds |
393,286 | (94,253) | 299,033 | 303,774 | ||
| Fund balances brought | forward | 8,777,668 | 94,253 | 8,871,920 | 8,568,146 | |
| Fund balances at carried forward | 9,170,954 | 9,170,954 | 8,871,920 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | ||||||||
| Cash flows from operating | activities: | |||||||
| Net cash used in operating | activities | 17 | 505,975 | 823,157 | ||||
| Cash flows from investing | activities | |||||||
| Dividends and interest income from investments |
6 | 88,066 | 76,072 | |||||
| Purchase oftangible fixed | assets | 12 | (416,239) | (45,928) | ||||
| Additions to investments | (4,289,158) | (1,268,718) | ||||||
| Proceeds on disposal ofinvestments | 4,216,990 | 1,205,924 | ||||||
| Interest received | 57,782 | 5,703 | ||||||
| Net cash used in investing | activities | (342,559) | (26,947) | |||||
| Change in cash and cash equivalents | in the year | 163,416 | 796,210 | |||||
| Cash and cash equivalents | at the beginning | ofthe | year | 3,935,441 | 3,139,231 | |||
| Cash and cash equivalents | at the end | of the | 4,098,857 | 3,935,441 | ||||
| year | ||||||||
| Analysis ofcash and cash | equivalents | |||||||
| Cash at bank and in hand | 4,098,857 | 3,935,441 | ||||||
| Total cash and cash equivalents | 4,098,857 | 3,935,441 |
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| E | E | 2023 | 2022 | |||
| E | F | |||||
| Donations | 1,000 | |||||
| 1,000 | ||||||
| INCOME FROM CHARITABLE ACTIVITIES | ||||||
| 2023 | 2022 | |||||
| E | E | |||||
| Gross School | fees | 7,763,526 | 7,422,463 | |||
| Less: | ||||||
| Bursaries and discounts | (585,241I | (565,455) | ||||
| Net School | fees | 7,178,285 | 6,857,008 | |||
| Add: | ||||||
| Registration | fees | 11,247 | 14,623 | |||
| Extras | 160,286 | 120,798 | ||||
| 7,349,818 | 6,992,429 | |||||
| THER TRADING ACTIVITIES | ||||||
| Unrestricted | Restricted | Total | Total | |||
| E | E | 2023 | 2022 | |||
| E | E | |||||
| Holiday and other lettings | 40,533 | 40,533 | 22,906 | |||
| Insurance | income | 282 | ||||
| 40,533 | 40,533 | 23,188 |
| 6. | INVESTMENT INCOME | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||||
| E | E | 2023 | 2022 | |||||
| E | E | |||||||
| Interest income | 57,782 | 57,782 | 5,703 | |||||
| Investment income |
88,066 | 88,066 | 76,072 | |||||
| 145,848 | 145,848 | 81,775 | ||||||
| 7. | OTHER INCOME | |||||||
| Unrestricted | Restricted | Total | Total | |||||
| E | 6 | 2023 | 2022 | |||||
| E. | E | |||||||
| Other income | 49,208 | 49,208 | 21,865 | |||||
| Commission received |
656 | 656 | ||||||
| Gain on sale offixed assets | 3,235 | 3,235 | ||||||
| 53,099 | 53,099 | 21,865 | ||||||
| 8. | ANALYSIS OF EXPENDITURE | |||||||
| Staff costs | Depreciation | Other | costs | Total | 2023 | Total 2022 | ||
| E | 6 | E. | 6 | F. | ||||
| Raising Funds | ||||||||
| Investment management fees |
15,852 | 15,852 | 13,268 | |||||
| Charitable expenditure |
||||||||
| Education | 4,056,874 | 188,978 | 432,278 | 4,678,130 | 4,101,141 | |||
| Housekeeping | 303,099 | 402,993 | 706,092 | 639,468 | ||||
| Establishment | 338,946 | 609,790 | 948,736 | 823,798 | ||||
| Finance costs | 1,768 | 1,768 | 2,472 | |||||
| Support costs | 610,972 | 324,045 | 935,017 | 833,494 | ||||
| 5,309,891 | 188,978 | 1,770,874 | 7,269,743 | 6,400,373 | ||||
| Total expenditure | 5,309,891 | 188,978 | 1,786,726 | 7,285,595 | 6,413,641 |
| Analysis of support | Analysis of support | and | governance | costs: | ||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| f | f | |||||
| Auditors' remuneration |
for audit services | 18,432 | 13,674 | |||
| Governance support |
costs | 1,429 | 353 | |||
| Tata I governance | costs | 19,861 | 14,027 | |||
| Support costs: | ||||||
| Wages and salaries | 610,972 | 522,399 | ||||
| Marketing | 53,190 | 69,641 | ||||
| Legal and professional | 49,122 | 59,395 | ||||
| IT | 94,846 | 81,743 | ||||
| Insurance | 50,876 | 49,247 | ||||
| Other office costs | 56,150 | 33,665 | ||||
| Depreciation | 3,377 | |||||
| 935,017 | 833,494 |
| The aggregate | payroll costs for the year were as follows: | ||
|---|---|---|---|
| 2023 | 2022 | ||
| E | f | ||
| Wages and salaries | 4,331,815 | 3,894,687 | |
| Social security | costs | 397,408 | 365,635 |
| Pension costs | 578,697 | 510,685 | |
| 5,307,920 | 4,771,007 |
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Administration | 15 | 14 |
| Educational | 80 | 72 |
| Establishment | 10 | 10 |
| Housekeepmg | 10 | 10 |
| 115 | 106 |
| average head count during the year was 15 | 9(2022: 145). | |||
|---|---|---|---|---|
| Staff earning in excess off60,000 per annum |
in the following | bands are. | ||
| 2023 | 2022 | |||
| No. | No. | |||
| 660,000-669,999 | 2 | 2 | ||
| f80,000 - f'89,999 | 1 | 1 | ||
| f120,000 - 6.129,999 | 1 | 1 |
| MPARATIVE STATEMENT OF FINANCIAL A |
CTIVITIES —YEAR E | NDED 31AUGUST 2 | 022 | |
|---|---|---|---|---|
| No~es | Unrestricted | Restricted | Total 2022 | |
| INCOME FROM: | f | f | ||
| Donations and legacies |
1,000 | 1,000 | ||
| Charitable activities |
6,992,429 | 6,992,429 | ||
| Other trading activities | 23,188 | 23,188 | ||
| Investment income |
81,775 | 81,775 | ||
| Other income | 21,865 | 21,865 | ||
| Total income | 7,119,257 | 1,000 | 7,120,257 | |
| EXPENDITURE ON: | ||||
| Raising funds | 13,268 | 13,268 | ||
| Charitable activities |
6,168,638 | 231,735 | 6,400,373 | |
| Total expenditure | 6,181,906 | 231,735 | 6,413,641 | |
| Net income / (expenditure) | 937,351 | (230,735) | 706,616 | |
| Gains/(losses) on investments |
(402,842) | (402,842) | ||
| Net movement in funds |
534,509 | (230,735) | 303,774 | |
| Fund balances brought forward | 8,243,158 | 324,988 | 8,568,146 | |
| Fund balances at carried forward | 8,777,667 | 94,253 | 8,871,920 |
| Freehold buildings &improvements |
Freehold buildings &improvements |
Freehold buildings &improvements |
Furniture, fittings &equipment |
Furniture, fittings &equipment |
Computers & equipment |
Total |
|---|---|---|---|---|---|---|
| Cost | ||||||
| At 1September 2022 | 5,402,433 | 485,258 | 441,899 | 6,329,590 | ||
| Additions | 179,428 | 213,843 | 22,921 | 416,192 | ||
| At 31August 2023 | 5,581,861 | 699,101 | 464,820 | 6,745,782 | ||
| Depreciation | ||||||
| At 1September 2022 | 3,009,385 | 327,854 | 398,775 | 3,736,014 | ||
| Charge for the year | 91,771 | 72,081 | 25,126 | 188,978 | ||
| At 31August 2023 | 3,101,156 | 399,935 | 423,901 | 3,924,992 | ||
| Net book value | ||||||
| At31August 2023 | 2,480,705 | 299,167 | 40,920 | 2,820,792 | ||
| At31August 2022 | 2,393,048 | 157,404 | 43,124 | 2,593,576 | ||
| FIXEDASSET INVESTMENTS | ||||||
| E | ||||||
| Valuation as at 1September |
2022 | 3,772,954 | ||||
| Additions | 4,289,158 | |||||
| Disposals at opening market value | (4,266,524) | |||||
| Revaluations | 44,910 | |||||
| 3,840,498 | ||||||
| Net book value | ||||||
| At 31August 2023 | 3,840,498 | |||||
| At 31August 2022 | 3,772,954 |
| 2023 | 2022 | |
|---|---|---|
| 6 | E | |
| Consumables | 10,795 | 5,861 |
| 10,795 | 5,861 |
| 2023 | 2022 | ||
|---|---|---|---|
| E. | E | ||
| Trade debtors | 142,573 | 132,468 | |
| Other debtors | 41,090 | 18,809 | |
| Prepayments | and accrued income | 185,510 | 131,218 |
| 369,173 | 282,495 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| E | |||||
| Fees received | in advance | 1,164,783 | 1,101,806 | ||
| Trade creditors | 360,731 | 122,943 | |||
| Other taxation | and | social security | 104 | 91,724 | |
| Other creditors | 179,021 | 42,901 | |||
| Deposits received | in advance | 187,300 | 218,425 | ||
| Accruals and deferred | income | 77,222 | 140,608 | ||
| 1,969,161 | 1,718,407 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| E | E | |||
| Net income forthe year | 299,033 | 303,774 | ||
| Adjustments for: |
||||
| Depreciation oftangible assets |
188,978 | 187,311 | ||
| Interest received and | investment | income | (145,848) | (81,775) |
| Decrease / (increase) | in stocks | (4,934) | 3,461 | |
| (Increase) / decrease | in debtors | (86,678) | (127,916) | |
| Increase / (decrease) | in creditors | 250,754 | 135,460 | |
| Net fair value losses / (gains) in investments | 4,670 | 402,842 | ||
| 505,975 | 823,157 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Within | one | year | 74,746 | 76,663 | |
| More | than | one | year | 120,656 | 46,899 |
| 195,402 | 123,582 |
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| f | f | 2023 | |
| Fund balances as at 31August 2023 are | f | ||
| represented by: |
|||
| Tangible assets | 6,661,290 | 6,661,290 | |
| Current assets | 4,478,825 | 4,478,825 | |
| Current liabilities | (1,969,161) | (1,969,161) | |
| 9,170,954 | 9,170,954 | ||
| Unrestricted | Restricted | Total | |
| f | F. | 2022 | |
| Fund balances as at 31August 2022 are | f | ||
| represented by: |
|||
| Tangible assets | 6,366,530 | 6,366,530 | |
| Current assets | 4,129,544 | 94,253 | 4,223,797 |
| Current liabilities | (2,505,390) | (2,505,390) | |
| 8,777,667 | 94,253 | 8,871,920 |