St Swithun's School (Winchester) (A company limited by guarantee) CONSOLIDATED ANNUAL REPORT AND FINANCIAL STATEMENTS Year ended 31 Juty 2023 IIIIIIIMIII Company Number00110692 Charity Number 30733S •ACIWiIL4* 2111212023 COMPANIES HCLJSE
130
St Swithun's School (Winchester) IA company limited by guarantee) Contents Page Company information Report of the Council, incorporating the Strategic Report Independet)t auditorfs report 25 Consolidated statement of financial activities 28 Consolidated balance sheet 29 Company balance sheet 30 Consolidated statement of cash flows 31 Accounting policies 32 Note5 to the financial statement5 36 CgmpaThy M. C¥)110692 Numbei YO7335
St Swithun's School (Winchester) (a company limited by guarantee) COMPANY INFORMATION MEMBEHS OF THECOUNCIL Council Members, who are drre¢tors of the company. trustees of the charity and the govemors of the school. who rved at any time during the year, are listed bdow.- Mrs A McGhee Imcaurel LLb" lthalrl * d A # • The Dean of Winchester lex-offiool. Thevery Revd Cogle MA MPhll DLItt The Right Worshipfvl the Mayor ofwinthester lex-offi(iol. airVAchwal I to 17May20231 Mr R Adam DipArch AIBA FRSA" Mis5 A Ajlan (Appointed Feb'231" # d Mr S 8ailey (Appointed Feb'231 • Mrs E J K Clancey 8A IAon51 A # MrsNdeKretserMA"dh#• Mrs J C Eager BEd, MSC • Mrsj Feuchtwanger IAppointed Norf221 A Mr W Hill (Apwinted Feb'231" Dr H D Mycock BM, Dip RCGP. Cert Med Edu¢ Dip Occ Med • • Mrs SJ Parrish MA Firf FBCS CITP" Iifietrchalrl Mrs A-L Peters 8Se (Honsl. FCA • d A # [Tajrer, ex-offidol Mrsj Prescott Bsc NPQH • l until No%/221 Mrs F Robinson LLB (Honsl # • l until No/22) Mrj Russell Bsc IHonsl, MSC. d l until Feb'23) Dr CThome BA HorLS. MSC. PhD # • Mrj R Trson BSclHonsl * d Mr R White (Appolnted FeV231 * d * Membèr ofthe Standin8 Committee d Member of the Development Committee A Member of the Nomination and Remuneration Comm5ttee
Member ofthe Bursary. Fundraising & PuWir Benefft Commlttee
• Memberof the Education Committee The Treasurer Is elected bythe Council and is an ex-gffi¢io rnember of the Courbol while holdingihat office. All other members who are not eXffiCi0 are elected to the Counal by the Counol and are qUired to stand for relectlort every three years. Members retlre after a max5mvm of thrèe piods of Office. Oftlceys The Head of St Swilhun's Sthool- The Head of St Swithun'5 Prep Sthtsol- The 8ursar and Clerk to the Counol- Ms J S Gantlee PGCE Mrj Brough 8.Ed. (Honsl, MA. NpaH. Fcol MrMJGambleMA Other senior management personnel Deputy Head Pastoral- senior xhool Deputy Head~ wep school Deputy Head Academie-senlor sctrh)ol Head ofoutreach & Pamershlp Finan Èursar Operaiions Bursar Head of Development Mr6 Yates W PGCE. &4 {Hortsl Mrs K Grosscurth 8Sc IHonsl, PGCE Mr C Hammel AB. Miitt Mrs Mayes BA MrsJ Bollard 85clHonsl, ACA Mrs S Culley Mrs C Lewis CoMpanyNumberQOIICfj92 ChaAtylknmber307a35
St Swithun's School (Winchester) (a company limited by guarantee) COMPANY INFORMATtON Icontinued) ADDRESS ANO AEGISTEAfD OFFICE st Swithun's khool Alresford Road Winchester Hampshire $021 IHA ADV150RS Bankers National Westmln5ter plc 105 Hi8h Street Winchester Harnpshire $023 9AW Soll¢iiors Moore Barlow The Oriel Sydehharn Road Guildford GUI 3SR Audbtor Crowe U.K. LLP 55 Ludgate Hill London EC4M 7M Insiirèr eroke Marsh Education Prattire Caprtal House 1.5 perryrnount Road Haywards Heath RH16 35Y Website www.stswIthu.¢Qrn Comp•hy NumkrLY*IIC69Z Ch•thNumb¥ 307335
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL INCORPORATING THE STrATEGIC REPORT For the year ended 31July 2023 The Council wbrnits its annual report and strats8ic report for the year errfled 31 Juw 2023. under the Charilies A¢t 201L tO8ether with the audited finanual 5tstements for the year, and confirms that the latter comply with the requirements of the CompaniesAci and the CharittesSORPIFR510212015. REFERÉNCE AND ADMINISTRATKIN St Swithun's School Ithe school) was founded in 1884. and incorporated as a Company Umited by Guarantee in 1910. As sueh, it has rto share tapltal. The school Is registtted as Company number IJJ110692 and Charity number 307335. AIMS AND OBIEcllvES The object of the school. as defined in the Artides of Association. is to provide sound and thorough eduution for girls and young children of both sexe5 in atcor+Yance with the prirtoples of the Church of England. The Governors Interpret thi5 10 mean that St Swithun's will provide an wellent academic education and nurture the 5pirftual. moral. sooal, ltUral and phywcal devdopment of its pupib. St Swithun's is a leading GSA IGirls' Sthc4)l Assoaationl school offerin8 day. weewy boardir8 and hJll boardin8 for some 520 aged 11-18. The adjoining IAPS Prep Sthool {IndepeNleni A550cioliM of Prep Sthoo151 caters tor girls a8ed 4-11. wtth a co- educational nursery from age 3. Aims In orderto achievethe stated object of the sth¢)ol. thefollong01mS were agreed during a previous period and re-affirmed in February 2019 Ireviewed * the annu315tratwy day in February): Academi To prepare girts for publtc e)3minatttins and higher educatlon in a stlmulating and stholarly enwronment in whith the girfs develop inteNectual cJJriostty, independence offflind and the abillty to take responsibility for thwr own learnin8. They are encouraeed to achleve thelr personal best. Prep school girts are prepared for entry into senior school at age eleven Sthool community. Tts provide a happy. safe and supportive community based on Christian values in which all 8irls are given thè space to devdop thar spirituality and are enwuraBed to understand and celebrate rfifference, and to be kind to others CorI¢u1ar. To PrOde a wlde range of opportunities beyond the dassroom so that girts tan discover indNidual paSOnS and develop a ranee of tharacterisbcs such as reIlence, initiative, eativity. perseverance. self+confidence, the ability to work in a team and to honour onè's commltments. To encourage habits to ensure good physKal and mentsl health both at stho01 and in the future suth as exercis< heatthy eating and the art of relaxation Beyond the sdwol 8ate> To tsach tht grrls compasslon. an vnderstsndin8 of the wtder world and Iheir role in ic a sense of duty and a desire for jumice Lookbng towards the future. To proyide h1U3lity hr8her educatlon and careers and supportive old gir55' network Keeplnff in twdk To communicate In a iimety and constructive fashlon with parents and other members of the 5t Swrthun's family in or<ler to eF0P rdation5hip5 cond¥ovÈ to ofterint the best possiblè education. The aims and objertives are reviewed annually by the SLthool Council. CwrtpanyNumterfyJ110692 CharityNumbw307335
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL. INCORPOIiATING THE STRATEGIC REPORT For the year ended 31 July 2023 AIMSAND OBJEcllvES {Connued} Whole these aims apply across the sthool, the prep schod has the foltowing complementary aim5: To provide a seojre nrDrE eftvtronment where the spirit of cooperaiion and respect for tsthers is paramount To meet the inteliedual. physical and emotional needs of eath individual thild by offering a broad, b3lanwl. stirnulating and differentizled currlculurn and byfoslerlng high self-e5teem. 5elf-motlvatfjon aftd sellMpression To treate an environment where children a valued. cherished and thallenged and a5 a resuh leafn to the best of their ability Tg have a happy school with smilln& ¢onfid•)t and articulate children, where everyone feeLs a Sense of worth. ObJeafve$forthe Year The objettives forthis year have remained consistent: To continue to prwde a welkirdered. efficient managed, supportive environment In which each child would be ableio fvlfil hislher intellettval physical and ueative p)tential and takè responsibility for his/her learning. In the prep school ¢hildren ère erKouraBed to develop independence. self- motlvation and 5elf-e5teem To continue to athieve a high le¥el of oradernlc perfomiant To contlnue thè pro8ramme of improvement to educational. residential and otherfacilitie5 To providè public benefft throu8h Csur charitable actiwtrès To continue the fun&raiyn8 campaign to prowde bursary fund5 that prowde ffinancial 5UPm to those unable to afford fee5 To achleve 3 reputatiorb J5 a 5th001 that iswell known for Its: excellent all.round education o forward-lookinE pedagogy stholafship and the attitudes of mind it dÈvebops in its Studènts To enhance St 5withun's reputation whith may lead to It being ovtrsubscribed To generate an annual surplus of at leasi io% of fee income allowing tontinuous imstment in new facilltles and a rolling Maintenan pro8rarnme. In setting their objec¢lves forthe year and planning actlvities. the Governors havegiveTr careful consideratlon to the Charity Commission's general guidanoon public benefit and in partlcular to its supplementary guidance on advanan8education and fee4hargin& notingthe amendmenrs made followin8 thejudidal revlew in 2011. They have also noted and responded to governmental expectations that independent sthools Increase the extent to which they share thelr fadlitle5 With malntained schools and the local cornmun. Prlnclpal Artlvttles of the Year St Swithun's prinripal acttvity continue5 tg be the provi5i9n of education for 8irls and youn8 children of both sexe5 In accordan with the prlnciples of the Church of England, and the letting of Oyf tsdlities for both charitsble and ¢ommerci?I puipxe5. Company Numberfth10692 Chath Ilurnber30733S
St Swithun's School {Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL, INCORPORATING THE STRATEGIC REPORT For the year ended 31 July 2023 PUBUC 8ENEF Wldenln8 ac¢e55 8ursarfe5 have been awafde(l over the pastyear at a cost of El.528.820 I&S% of fee income) to som 63 pupik. of which S2 were meanstested and 32 were 100% of fee& In orderto truly widen access, bursaries are available to cover both fee5 4nd other nece55?ry expenses appropriate for a pupil at the school. We also provide 11 stholar5hips for ¥irtsto St Katherin¥s 5th0, Lira, Uganda, funded from volunteer activitie Ste sthool partnershlps The impart ofour stats sthools. partrw5hip programme irt 2022123 is as follows: An Intreasing network of state 5thools with whom we undertake partnership actiwty induding Park Community Sthool, Oliverfs 8attery. All Saints, Sun Hll. St Faith's, Four Marks Kln85 Worthy. Barton Farm and Weeke. Over ICQ hours of weekly enrithment acbvjty with S primary schools indu(fing arL drama. PE ar)d readin8 sessions. 370 prlmary school pupils in74olved 120 St Swithun's pupils and staff involved 40 hours ofswimming pool hireftuition/trartsportlor 5 local prirnaryschool& An eVts pri)gramme whith welcomed ovÈr 2th) primary school pupiLs to 5t Swithun's to take part In math5, Sport and ueatNe arts art*ties. delivered by St Swithun's pupÈls and staff. Tran5POrt supporr. allowng over 31JO primaryschool pupiLs to attend educatsonal days and co- curricular events off4ite. A cornrnunity service day at Saints Primary Sthool involwng 20 Year 11 St Swlthun's puplls helplnB with the upkeep of their grounds. Shared teathinE resour with Park Community Sthool in Havant. with a dlrect focus on helplng to raise the aspirations of some of their female students. A le¢re programme attended by students from local secondary sdM>oI and Sixth From colleges. Stience in a Suitcase. the portable xience resovrce +Yevdoped by our sciente deparbnent, (s in muth demand by Scien cwrdinators in primarysdwls and ts regubarlyout'on loan,. at no COSL Fundraising Eath yearthe sthool community %lectsthree dMritable organisationsto support durinB theyear, from a Tae of charlties nominated by pupi15. Where possible rewesentatives of these chartEies•risit and speak to puplls. or send resources sotheAssist Team-rnade up ofwrjs in the 6th lorm-can raiseawareness olthe charities. MSt all fundraisingevents throughout the year support these causes. Sthod chanties selected for2022123were Kids for ds. Planned Parenthotsd and HART UL Every year the money ralsed Ls a150 shared wlth the Bramston Bursary Fund which is a perrnanent 4th 5choot chartty Students roised over £13.000 for the school thafities. with initiatives iTdIn fire Walkin& the 3 Peaks hallenge, rtding a rodeo bull. and many bakè sales. In addrtron. pupils and staff have supported thè Wtnchester Women's Refuge. the Winchester Nightshelter. the Fas shoebox appeal and our sisw school Sl. Katherine's, Uganda through a range of fundraisln8 and Praclical altsel Cwpar)y NufflberOJ110592 CthathNurnber 307315
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL, INCORPORATING THE STRATEGIC REPORT For the year ended 31 July 2023 Fundra151n8 Icontlnu•dl In the last year, pupi15 ond staff at St Switlwn's Prep School have raised over £2,c in supportlngxmasjumper day. the Poppy appeal. Comic Relief, Roorn to Read and a sponsored do8 walk for Hearin8 Dc85. The senior 5th001 charttles for 2023124 have been chosen by pupils as The Hedgeho8 Conservat soclety, the RNLI and Ootttsf5 ofthÈ World. FINANCIAL REWEW Record of athle¥ements and perlorm•FK• for the year In 2D22123 the School had 493 pupils in the senior school and 212 in the prep school. In addition to aCAdemic achlevements, both Schools maintained a full prLyaramrne of 5P9rtI mU51cal and art15tic aclivitlP5 during the yeai. Theschool can a8ainlulllfiabty dalm to beamotwthehighem athievlnggifls's¢hools in the ¢ountry. nsiSteni achlevln8 excellent results In Publ examinations at bo¢h GCSE arbd A Level. In wmmer 2023 24.1% of A-level entries were awarded A.. compared with the national average of 8.7%. 60.8% ofentries were awarded A• or A erades. compared with 26.8%for all schools in England. At GCSE level 62.5% of entries were graded 9181A', compared with the national averaEe of 12.0%. 79.7% of entries were awarded grades 91817 and A"IA tompared with 21.6% for all 5thools in En8iand. The school wa5 inspected by the Independent Schoob Inspertorate in January 2020. The Inspectlons covered Ae8ulatory Cgmpliance onfy and both senr and prep schools had ful met all the andardS in the regulations and were therelorejud8ed compliant. Anandal fesultsaf thè school and sthool lettlnKforyiany The finandal re5uRs for the year were below expertations.. full detsils are shown In the attathed financial statements and the resuks have been summarised bejow:. The Unrestrlcted Net Incomln8 Resources affrt)untÈd to a sufplus of £15.70712022.' surplus of £445.6551 with no FP5102 pension adjUrnent required. Thi5 wa5 added to the brought fon¥ard fvnd5 to Kr¥e an arnOt of £30.716,832 attributable to the urhrestricted fund at the year-end. The statement of financial actlvbtle5 ISOFAI on page 28 contains detsils of the rntoming resources for the year. Included in total incoming resour05 of £17.8M 15 £16.2M of net school fee5191%1 and £237K of restrictÈd donations (1.3%). Gross fees for the yea¥ were £82X higher than expeetaiion. Total resources expended were £889K lower than the oriNal foreta5t at £17.8M. of which £17.3M197%1 was used in the charitable activhiès of the tharity. ¢•mpan¥ NumberLbJllC692 Ch•%lV Nymbey 307335
St Swithun's School {Winchester) (a company limited by guarantee)
REPORT OF THE COUNCIL. INCORPORATING THE STRATEGIC REPORT
Forthe year ended 31July 2023
Financial results of th• school and s
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL, INCORPORATING THE STRATEGIC REPORT For the year ended 31 July 2023 Sthool re5er¥es policy At 31 July 2023 the Gioup has total net assets and re5erve5 of £32.927.OS5. Thi5 cornprises restricted funds ol £2,149,102. endowmeni funds of £61,121 and Untried funds linduding equity in fixed assets) of £30.716.832. Thetotal value of the schoofsfixed assets, whith are all held for use In the school, £31,697.480. agalnst whlch asset-spedfic ueditors Ibonk loans) I held of £4.019.528. Free reseNès. defined as unrestrfcted fvnds less fixed assets Inet of as5et-5pecifi¢ loans) are in surplus by £2,035K. This compfises unrestritted current assets of ÉS,816K less other net current liabilities of £3,487K and long temi creditors. lexduding bank loans) of £294K. TherE is a150 a designated fund of £422K io meet future contributions to the dosed legacy retirement benefft stheme for wpport staff. Council have consfjdered an appropriate target level for the schcol'5 fret reserves. HawnE regard to the likelihood of finandal ilsks and mitl8atin8 factors. the trustee5 consider the target level of free reserves for the charity should be approximatety 2 rnonths expendr(ure Iturrently forecast at £2,890KI a8ain5t which the figure reached 5n Ihe current year, comprised a5 above. 15 £2,035K. In addition. the school holds £1,020K in readily- acce5s1ble Invesirnertts and £1.816K equity lat tostl in its di4Josable propertles. At the yeaTnd. the unrestritted cash at bank of £5.204K is available for working capjtal requirement5. It Is felt that thts school reseryes policy remain5 a vèlid poytion. Council revièws the Schoofs finanual plans on a tem basts by monitorirw income and expenditure against forecasts within the context of the annual bud8et and a rolling l¢>year finanoal plan. Cash flow5 are also closely revlewed. partlcularly in the light of the School's borrowin8 commiiments and repayment reouiremeAts. The Counc(I Is of the opSnlon ihat glven the current balan sheet and finanaal projertions. futu pupil registrations. as well as available banking faulities and disposable properties and investments there 15 no red to Sel aslde additional free reseryes. InveslTh*nt powers. pollcy and perfonnance The investment power of the Coun¢il is given by the Articles of Association. The current policy 15 that all Investments must be safe and ethiol and ad is sought as required before new investrnents ate Made. SufficÉent working cawtal is held in an instant actess inierest bearing accouni to meet all requirements as they fall due. Investments whith represent the composition fee fund are held in UK Governrnent gilts, and the remalnlng Investments are held In fixed term cash deposits and tharity-5pecffir equity based managed funds. The total reiurn performance of the 51gnlficant iestricred Investment b assessed a8ainst an industry bpnchmark. altemative equfvalent tharity product and base raie + 3 The performafjce In the year exceeded the above assessment uiteria and will ttsntinuÈd to be VieWed iermlv to ensure It is meetin8 two of the above th assessment criteria. The major investmènt is ¥rith CCLA where the investment fund has a total return of 6.2% versus an industry comparator of 6.42% during a year of mafket turbulence. The investments are all held for the longterm. PLANS FOR THE FimJRE The school rewewed and reaffirmed Its aims, ethos a1 vision during a prèvious perlod. its alms, In pursuit of Its charitable object, have been outlined above. Wofk has continued on the 5chool'5 strategic Plan fur 2021-26. It was presented to the School Council artd approved in February 2021 and further reviewed in Fèbruary 2023's Strategy Day. Whilst it does not change Ihe underpinning aim5. vision or ethos of the sthool, it offers 8reHler focus in key area5. io rity MurnbE¢307335
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL INCORPORATING THE STRATEGIC REPORT For the year ended 31 July 2023 PLINS FOR THE FufuRE Icontinuedl The ethos ofth• sthpol St Swithun's is an 'appropriately academie sthool that eelebrate5 intellertual ojriosty and the lrfe of the mind, but not to the exclusion of all else. PuplLs are expected to develop indNidual passions and throu8h them to acquire a range of skilLs and ¢hara¢teristic These charaCtertIcS will Indude a wtllingftess to tske fisks, to questiort and to debale. to persevere in the ta of diffithlty and to ha¥e fijn. If a girl can immediatety excel at everything asked of her. the bar rnust be set higher. All gir15 neèd to leam about Ilfe beyond the sthool gates, to apprecfate the rfch variety of ourwortd, to develop an understanding of compassion artd to value justice. All pupifs are entouraged to becomè invtsl¥ed in fundraisin8 and communitywork Theyshould appreciate howtheir detisions and their action5 can offectthose around them. St Swlthun's wasfounded byAnna 8ramston, daughter of the Dean of Winchester. and thristianwdlues underpin the sthool's approath to edutstion. Within a ovilised and caring envifortment. all glrls and staff are valued for thelr individual ftS and encouraged to develop a sense of spiritualY and of knftdness. Klftdn and tolerance are at the htart of thesthool community. School vlslon Th rls¢d Vlsion 15 'A worlMa5S 8irW boarding and day SLknI offerlng a c¢mplete eduotlor(. The senK School's Vision includes a eirls. Khool welpknown for its exollent all-round educatlon.- its forward-5ooklng teaching methods,. its scholarship- ènd the attttudes of mind itf05ters in Its Studen tt wlll house a Cmlised and compassionate community in secure and welkmaintained buildings, and it will thoroughty prèpare all its puplts for Ilfe beyond its gates. ft VAII be regarded byteathers asa desirable5chool In which towork and develop onds craft. By the time a girl leaves she will be courageous. cofflpasslonate. commltted and sew-confldent with a love of leamio& a moral Compass and a sense of humour. The prep 5ch¢)ol viston is of a sthool in which every thild Is known. Cheris and at the same time CoUraged to be feartess in an Ipin8 teathin8 and leaming entr7ronment It is an envrronment rn whlch pupils and staff have warm, respectful relatiorships. The children enjoy going to sthool and the stsff rellsh havbng the opportunityto share adventures, interests and laughter. Sd1.$ mls5ion The school's Mison is to provide outstanding partor41 care and teathin8 wertise to create Irs every IndNidual student a unique tapestry of strengths and interests. Sthool's purpose The sthoofs purpose is to develop resili•)t. enquirin& optifflislic and colL4bontNe women. Thty will stand on theirLiwn two feet and pull others vp to 5tsnd al0Side thenL li CcThpanyNwnEer00110692 tharliy Number*)733S
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL, INCORPORATING THE STRATEGIC REPORT Forthe year ended 31 July 2023 Schoovs purpose lcontlrwedl There are 12 subffjblertives, divided into tlee 5ettions. to prowde appropriate focus= To a¢hleve cOn&Stent high atademi¢ resuhs. To prepare students forsuccess in the modem world. To pcovlde a first-das5 sixth form experien. T05UPPOrt high levels of wellbeing amongst students and staff. To be diverse and induyve Iwithin the contert of beinB a Birjs. sthooll. To provide ? modern, inclusive boarding experience. To providè ouandIng cfrcurrkular tieS. To develop and sustaln our strore reputatlon as a world-dass glrb. boardinB and day 5th001 offering a complete education In orderto ensure that we are fvll. To 8uarantee an outslandir4 customer expeflence To develop our facilities. To ensure the finanoal sustainability of the school. To ensure the envfironmental 5UStainabillty of the school io. ii. 12. Slrurture The sthool Council intends that St Swtihun'5 remain a single sex. day and boardin8 School for&rls in the senior sd)ool and day onty school in the prep sthool and a coeducational nursery. In the senior school, numbers have Increased 51gnificantty in the precedin8 four years and a number of Mructural and organlsational changes have been made io cater for this. We alm io continue to inaSe boardiro numbersto re-establish. in the longierm. a 50=50 mix of boarding and day pupils in the senior xhool (currently 42% boarding). We are inuea5in8 our marketlng actsvity to attrart additional pupils at li+ and into the prep school. particulady In earty years. In the prep school we aim to offer inueased tapacity and iht benefrts of Smaller class Sizes to increase overall numbers. Numbers are steadity increasin8 (currently 2101 and we aim for numbers to increase each year until tapacity12561 15 achieved. Acadernl¢ The Counofs academlc aspirations in the senior school are hi8h and our aims are to enable every pupll.. to fthlfil her potential- to take responsibility lor her own learnin& and to increase hèr inlellertual curioty whbist having fvn. We will continue to provide a broad general curriculum seeking to achieve excellent examination results enabllne admission to all univeisitles and preparing pupi for latef rife. We wll continue io pro8ramme for the GCSE, IGCSE and A Level public examination for the foreseeable fulure. while monitoring any thanges occurring natlonally and in Higher Education that may impact on this decislon. We the development of the sixth form experlence and Improved sports fatilitie$ 35 being critl¢al tts fvre suctess and these will be the sublett of development feasibility work tn the corning year. In the prep school the Counctl aiffls to provide a stirnulatin8 environment in whith each pupil can flourish In the broadest sense,. foster an eagerne5$ lo learn. to strive, to achVe, and to realise the potential of eath pupil- academically creaii¥ely, on the spons field and at play. We VAII also piepare pup115 for a move to senloi education and equip them for this transition. 12 CompinyNyrnber(¥)JICO92 CharityNymbei 307335
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL. INCORPORATrNG THE sfRATEGIC REPORT Forthe year ended 31 July 2023 Selertion St Swithuft's weltomes pupils from all background Flnal selertioft of external candidate5forentrydepends upon the availabiiityof places, perfonnance at Common Pre-test or ihe Ukisrf test and Common Entrance or our own Èntry 35se5sment as well as the receipt of a 5atisfartOry reference from the candidate's rrent head teather. SiKth-form entry depends on C4T4 or Ukiset iests and wiitten assessments as we¥ as subjert&sed Inte Final selectlon of candidates for senlor-xhool enty from St Swrrithun's Prep depends upon the headteacherfs recommertdation for internal transfer, and on the pre4est. Common Entrance and 5at15fartory academlc referenfOr lattrjoiners toyear5 aswell a5thosewho. inthe headmasterfs view, requtre additional45se5sment in theirye¥ 6. We arm to offer schOlah1pS in the 5enigr sthool to those of the appropriateadeMIc5tandar. Academic and music stholarships are available at Il+, 13+ afid 16+. Sports stholarshipsare awarded atthe end of year9 when we believe that all girls. whether they joined us ift year 7 or yèar 9, will have had the opportunity to develop skills In all of the sports we offer. Sports stholarship5 are also arded at 16+. Bursary Pollcy For 2023-24 thè sthool remains committed to the prov¢sion of some £1.76M In bursary payments. Thls is 8.7% of pieditted feè income. The schoofs aim rematns to continueto maintain the level of bursary awards to pupds to at least the equwalent of 5% of fee income. Thts will be assisted by support frorn the 8ram5tt>n Appeal and Bramston Bur5èry Foundation. This Is eypected to amount to £229K in 202>2411.1 % 018ross fee income). In 2023n4 there will be 64 Pupits in recelpt of means tesred award& inclu&$ 34 bursaries of tseeeft 7 The uiteria for receivin8awards artdètermined th• 8ursaryComrnittee on an annual basik Selection foi the award of any bursary is based on meeting the normal academic requirements for entry to the senlor or prep school as appropriate. and an assessment of suitability caffied out by the Headmistress. No eXptIonal profitiency in arby acadernic or other area of eduution is required. The reuuitment of candidates is athieved by all ayailable means Indudlng marketing and adverttsing procedures. by direct Irdison with 1 feeder prlmary sth0015. by links with partrtersp organisations and by word of mouth. The Bursary Committee agrees thè annual provi of fvnds and then delegate5 the reuuitment and selectlon of candidates to the head tèaehers. Aswell asseekingto prowdewideraccessthrough bUry provision weshall continue to prowdthelpto parents whofall on hard times untll such time asthey are able to paythefullfees again. The sarne selectson and financial riterla w511 appty as a8reed for bursarles on entry tothe sthool. Development {FundralsiTh81 and Alumnae Relatlons Bramston Bursary Foundation IBBFJ The Bramston Bursary Foundation's rnission is to provide fully funded boarding pla05 at St Swithun's Sithool forgirls in vulnerable orcurnstances. In 50me case5, our benefaries rnay have otherwise been taken into Social Care, rfthe school had not provided a pla. These bursaries astabIli51n8 and transformatlortal for the girls who recei¥e them. A diverse student body also enrithes ihe sthool community vmth a der ran8e of ideas and pefspertives. 13 CtykspanyllymknCQII(fi92 Ntsrntyer307335
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL. INCORPORATING THE STRATEGIC REPORT For the year ended 31 July 2023 Brammon Bursary FoundatSon IBBFI Icontlnuedl We continue to partnef and work with the Royal Nètlonal Children's Springboard Foundathin, Buttle UK and Hampshife and Isle of Wight IArtual School and College for Children In Care (Hampshire County Council) to help klenify 8irls who could and would flou1h at the sthool. al0 with direct entries. The BBF remains flexible in reÈards to when a new benefiuary joln5 the sthool, a5 it may not atways be in L4 Ill+l, therè are a range of entry polnts. 5t Swithun's also allocates a percentage of its annval fee in¢ome to support drfferent types of bursaries, in the belief that nothi should stop a talented and hardwtsrkinggirl from reaching herfvll potential. Affordability bvr5aries- where new parents to the school need support. up to IC¥J% ofthe fees. Thèse n be for 8iFls frgm home5 Whe income is at a very low level and an independent eduution would otherwise be out of reach, or for girls who are identified by HMC IHeadmasters' and Headmistresses, Conferen¢el as HMC Projects stholar5 from Eastern European countrie5. Armed Forces bursarie5- a small nurnber of 20%1)oardin8 bursarie5 for new HM Armed Force5 families joining the school. Hèrdship bursaries-where parents of current students can no longer afford a St Shun.$ education. Thi5 normally re5uIt5 from a 5i8nificant change of circumstances in the family situatvJn. such a5 the death of a parent. For ¢larlty- affordablllty bursaries. armed foices bursaries and hardshlp bursarles are entlrely separate from the 8ram5ton Bursary Foundètlon. They afe fuftded through a combination of fee income and Interest and investrnent income fiorn the Bramston Bursary Inot to be confused with the Brarnston Bursary Foundatlonl. The 8rarnston Bursary Fund was established over a decade ago and Invlted philanthrgPI¢ contributions to support a wlde range of bursarie& This fund value currently stsnds at É1.232 Fundlatslni In the year endi 31.07.23 This financlal yearthe foundation has 7 x transformational BBF benefioaries. The development *am works with the 8BF committee to increase fundraised incorne annvaltythrough a variety of event5. raffles and an end of year auction, in anticipation of 2 new beneficiarie5 joining in the next zcademic year. Thi5 financlal ye4rthe fundrii5ed totsl achieved for the 8BF buTSary programme was £140.491.34. The Bursary iransferred to the school an amount of£lll.332 to tover this flnantlal yearfs 50% buisary fees. The s¢hool provides the other 50% of these fees and also the IO% required for trips. unifomi, sports kit eic. Restricted Capltal Fund fOrfure sthool c•pKtal projert5 SeparateEy, the delOpMent department ako holds an existing capital fund forfuture capital projerts. The current amount wlthin this fund Is E246.112. Alumn•e EnKdBemenl OGA engagement heatthy and increasing with regular communications and events. The open rate of the OGA monthly e-new5 ha5 increased 1.79% tornpared to 202112022. On average. 249 more former studènis/stafflparents are openin8 this monthly newetter compared to 202112022. Events are generally well attended. 14 Cumpany NumbwDJ110692 Number307335
st Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL. INCORPORATING THE STIi4TEGIC REPORT For the year ended 31 July 2023 Professional GUIdan Departme All planned professional talks were delNered in the autumn and spring temis either in petson or vlrtuallv. There is r+0 proyamme for the 5ummertenn dueto exam cornmitments. The Counol receives regular reports and updates in fUndralftg regulatitsns arKI guidance through the Bursary. Fundraising and Public Beffit Committee. The schocl does not engage with any£¥temal third-party fundraisers. During this financial year the development deparrment r[sed ènd updated theschooys pri¥acy poliryto reflect best practice in the Sector. The stsffing costs ofthe devdopment arwj alumnaè office are met by the sthool rather than taken from the money donated. staff - Employmerrt Poliry The aims of the School's recnjitment polKy are as follows:_ To ensure that the best possible governors, staff and volunteers are re¢rnited on the basis of their merits, abil¢ties and 5Uttabtlity for the positton,- To ènsure that all job applicants ao consldered equitably and conslsientty. The sthool is an equal opportunitles employer- To ensure that no job applicant ts treated vnfaity on any Brounds indtsding agè. dlsabllity. Bender reas$1ment marital an¢Jlof uvil pathewship Smus. prègnancy and maternity, fa, religion or belief. sex or sexual orientation. To ensure compliance with all rdeyant recommendation5 and guid Includin8 the recommendations of the DIE In 'KeepiDg Children Safe in Education Isep 2022 and in future Sep 20231" the recommendations in"Boarding Sthotsls~ National Minimum Stsndaf and the Code of Pfacbce published by the Disdosure & Barring knice IDBSI; KCSIE runs along the non-staiutory Interim guidance on safeguarding In schools, colk6e5 and other pmmders during the coronavirus outbrea To ensurè that the Sthool ffleets its commitment to safeguarding and promoting thè welfart of thildren and young people by carrwng out a¥ necessary pre-employment dck$. The Countil aim5 to recruit and Tetsin the l)est staff avallable. We seek to employ hvdh quality. enthusiastic and talenied teaehefs and support rtaff In all departsnents and will continue io encourage and support their professional development throu8hout thelr tirne with us. This will indude hrgh ealibre NQTS and other trainees who the schwl will assist th iheir professional developmenL The intentlon 15 that staff are: valued,. Wdl remuneraied and rewarded: The beneficiaries of terrns and conditions that are rèa50nable. transpaTent and con5i5tentr. Provided with the faalitits requirèd to allow them to perform to the h4ghest level,. Provided with opportunities and support to dLwèk)p to their full potential. COmpa¥NuMbEr0)I12 Ch¥ty14umber307335
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL INCORPORATING THE STRATEGIC REPORT Forthe year ended 31July 2023 Staff -EmplDyment Po15cy Icontlnuedl Information is provided to staff in a vartety of fonY¢ats during induujon and durir8 thelr tlme at the school. This Includes infgrmatlon contained in ihe Staff Handbook. Teachers, Handbool and verbal briefings at staff mèÈtings and In trainin& All Staff underBO a nurnber of safeBuardin& dats protealon. whistleblowlng and heafih and Safety trainin module5. 51aff are expected to adhere io the schoofs code of conduct and In the case of teachers, DfES eachers. Standards. Fadlltles The Countil also alms to tonlinue to imprLwe ovr faolities, both in our buildings and equipment and in the provision of information and communication tethnology. It is a tradItnal 5choDI embracin8 modern techno108y nd tonternporaryteathin8 methods. While rewnisir the need for a secure site we aim to offer an attractive welcornln8 campus with all new development being In keepin8 wirh the main school bulldlngs and as environmentallyefficient as possible. It is 3150 our intentionto allow attessto and use of as many of ourfècilitles as practical to the local community and to other charitable organisations. Development pro}ects continue to feature and the Jill Isaac Stltdy Centre w35 completed this year. In the coming year. fea5ib61ity Studie5 will be 14unthed for a 5txth form ntre and irnproved 5POrts faulltie5. Development sits neatly alon8side planned maintenance and tontinuous improvernent across the school spectrum. STRUUURE, GOVERNANCE AND MA14AGEMENT Governing Documenl St Swithun'$5chool15 governed by itsArtide50f A550Ciation. These were5ublertto a full review this year120231 and approved by the school Council. Counul considers ihe guldance given In the Charity Commissioner5 Govemance Code. Individual members of Council re¢eive coples of Governan magazine in order that they are kept abreast of bèst pfartice and advice from the Charity CommTrssion. Council is tonfident that it operate5 Within the guidelines. It will continue to review its Governance policy and consider opportunitie5 for on8oin8 development and 8ood prarttce. The school 15 administered by Its Trustees it) accordaftce with all current le8islatlon and Chaflty Commission requirements. Governance is as transparent a5 possible and aims to prov(de dear pollcy guldance to allow the schoofs senlor mana8ement to operate effjtientty and effecte. Eted Trustees are appointed at the Annual General Meeting on the basis of nominations rettived from existing Trustee5 and after an iniiial familiari5ation slt to the school. On appointmènt new TrustÈè5 receive a pack of information covering th?ir role and all relevant poly documents. They a150 undertake a further induction vislt and attend relevant courses, preferably run by AGBIS, on Governance. Follgwln8 elettion Trustees partiopate In a range of intemal and extemally provided training nts. Durlng the preoU5 perlod Trustees attended •) internal rateÈy review day IFeb'231 and attended the followlng externalty run courses / serninars= 2022-23.. AG815 Confèrence and AGM AGBtS Semlnar for New Governors AG815 Serninir for Boarding Governors Internal Safeguardln8 in Education Updat followingthe re-issve of Keeping Chlklret) Safe in Educatlon IKCSIEI 16 CtyTrpany14umberTr)110692 Char* Ntsmber30733S
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL. INCORPORAnNG ThE STRATEGIC REPORT Forthe year ended 31 July 2023 Orfanisatlonal Management Mwnbers of thè school courttil. asthetrusteesof thecharity. are legalfyresponsible forthe ¢Mrall management and control of both the senior 5th001 and the prep sthool. Council sets and approves stratwc direction and poli¢y and meets thrÈe time5 èath year and additionalty as required. Council monttors the work of the school's managernent team through its cornrnittees and through visits to the sthool. All finanual matters. induding bud8ets. income arkl expenditure and cash flows. are scrutinised by the stsnding Committee. The statutory finanual statements are scruiinised through tht protess of annual audi¢ bèfore all matters are submitted to Council forapproval. The Stsnding Committee atso monitors and remewsthe school's risk management procedures. annual repS on 1ngJran. safe8uardin& heath and safety, securTrty and any Ofher subjert that may be relevant io the sthooys business at any8i¥en time. Academic mattets are brought to the attention of Coun01 by the Etlucation Committee, through thÈ Head teacher5, terrnly reports and the senror schoofs annual depamenial reports. The Head teachers, reports also include informaiion on pupil numbers and future ystratiOns. ttaff changes, developments and training. pupsl matters and forthcominB events. The prep 5th001 Head atso reports to Council on all matters relevant to the prep school. Other school reSpOnbilles. induding bursary piNslon. fundratsin& appointment of Counul mèmbers. pay ènd terms and conditions ofemployment, and propertyand buildinE works are nnitored bythe Bursary. Fundrai5in8& Public Benef Nominations & Remunerationand Development Commttteesre5pectlvely. Rtmuneratlon polity Details of the school's remuneration policy are cgntained in itsgovemanee paper and fall underthe remii of the Nomination and Remuneration Committeo. Detai of its role and responsibilities regarding remuneratlon are ontained in the following extrarts frorn Its temis of refèreno: The purpose of the wrnrnitte* is. on behalf of cntil. to monitor and adv6t on matters relatin8 to staff remuneration. wlth partitubr regard to thè sakiries of s1•1 staff. With respert to remuneration. the CornrTwttee shall: determine and a8ree Countil the framework or broad polrcy for the remuneration of all employees; in detemiining such polity. tske iftto account all facrors which it deems necessary. The objertive of suth policy shall be to ensure that rnembers of staff are prowded with approprlate incentives to entourage enhanced performance and are. in a fair and responsible manner, rewarded for thelr individual contributions to the success of the Sthool- within the terms of the agreed polity. determine the total indfvidual remuneration package of each employee. Much of thi5 can be ddegated to iht Headmistress and the Bursar. workin8 wlthin the ¢lear8uidelsne5 of the Committee,- be aware of and oversee any major thanges in employee benefit struCleS throughout the 5th001; determine the policy for and scope of pensw)n arrangements. 5eThits agreements. temilnation payments and compensation commitrnents; and provltle a temily report to Counol. In detem)ininE appropdaie salari4 the Trustees have re8ard to the fallownr. DfES teatherf pay scales (reachers pay and allowance5 for the maintsined sector are used as the baseline for teachers. salartes and then subjert to a cumulatNe percenta8e increase and a fiat ratest Swtthun's allowantel Local Governrnent and other local emplwee pay rate5 order to benthmarksupport staff salaries 17 cwanyP4mbErll1Ilo6•2 Charltyl4umber30f535
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL. INCORPORATING THE STRATEGIC REPORT For the year ended 31 July 2023 Remuneratlon pollcy Icontlnued) The independent xhoDW benthmafkinesurvey5 w0ed by or8anh5ations suth as Baines Cutler. The senior management of the school. deemed as those on thè leadership scale and as Ilsted in full on page 2. are remunerated in accordance with the remuneratlon Oiry. Teaching staff belowthe leadership scale progre55 through a numbÈr of main scale salary point516 for teachersl and are then eliw'ble for additional appraisal based increases to their main salary. Support staff enjoy a cost of Ilviftk inttease annual and could be awarded up to three di5cretlonary pay scale incrernent5. The Nomlnaiion & Remuneration Committee deterrnines any additsonal tOSt of living infiation increase. which Is applied to all staff. once approved by Council. The Nornination & Rernuneratlon Commrttee scrutinise and determine the Headmistres$ recommendalions on Indiwdual senior siaff salaries for those on the leadership stale annually. Suth decisions are taken w(th re8ard to individual and colledNe perforrnance and the benthmark5 provided by the Barne5 Cutler stsff remuneration survey. Group Strurtur and R•llon5hlps St Swithun's has a wholly owned non4h3rlty subsidlary. St Swithun's School Letting Company Limtted, whose athvltles and tradlng performanee is explaintd in the financial statements. On 5 May 2C¥39the sthool registered a subsfjdiarycharity-si. Swtthun's Sch¢x*l Bursary Fund. Once commenced, thi5 subsidiary fund will be held on trust by the school for the provision of bursaries at the 5chog1. and will manage pital and income fDrthis purpose. There were no trartsactions during 2023. The assets of the 8ur5ary Fund are £1,232.l32 as at 31 July 2023. which are hdd in an Investrnent fund to provlde Interest to fund future bursaries. The Bramston Bufsary Foundallon188FI ha5 assets of £341.598. Poth funds are currently held in restrrrted funds withln the Group. Al Management The SchDoVs detailed rlsk rnanaoemenr procedures were established In J•nuary 2002 and the risk mana8ement led8er, which outlines all known rnajor risks to the sthool and state5 the artion bein8 taken ¢0 alleviate them, was Introduced. Thecouncll subcommittees ha¥trdelegated respon>bilityfor revlewin8 rI5k5 on a rollSng 3nnual basis. Most rlsks are on-going and as such have been dlscussed and appropriate measures or polides afe in place to allevlate them, either through reducing the likelihood of an occurrente or by reduting the Impart in the en1 of a risk mateflalising. Monitoring of risk and the approwiate arnendmentof polities and prOodre5 form part of thè contlnuous rnanagement of the Sthool. Spetifit area5 of risk are Subject to additional oversi8ht= Standin8Committee rnaintains oversight of governance and finaneial risk.. Nomination & Remuneration Cornmittee monltorssuccession plannin8: Education Committee revsews academic risks,. the Bufsary, Fundraisin8 & Publrc benefit Committee reviews tleliveryof Public benefit. Dr Heather Mycixk oversees health & safety issuesand Mrs Julia Eager ovetsees thild safety and safeguarding. The ledger 15 updated * least annually io indicate adihtional taken to reduce risk and also to identlfy areèswhere changes in legislation, personnel or leve150f oxpèrtise have altered eliherihe Ilkellhood tsrpotentlal 18 CrynnY NumbeiWLIO592 nty Number 307335
St Swithun's School (Winchester) {a company limited by guarantee) REPORT OF THE COUNCIL. INCORPORATING THE STIiATEGIC REPORT For the year ended 31 July 2023 Aisk Man4nent (¢tyed) impact of an event. During 2018 thè Sch(.5 dats protertron measures were audited. An extemal health and safety audit is conducted annually. The follo¥Mng Issues are viewed as81vi risè to ad(fitional rth: Political landKape= Counol will continue to monitor 8overnment polity as It refates to bndependent schools and the settorfs respsjnse. In particular the expected change5 in tharity taxatu)n pollLy, in partiLiJlar the imposition of VAT on fe25, will have a 5ubstantiJl ImpacL Financial= the economic cfim3tewhich undersubstantsal pressuredue to political thange. the8lobal economic situation and the war in Ukraine places an intrea5in8 financial strain on some parents and the xhool. The Volatif of the enerby fflaet Cale0 a strategicshock to the sthool's finan$. The of long temi fee debtors has inueased stèadily and affordability is rtCO8nlsed as a key risk. Fer Sep 23 the fees have increased by 8.0% auoss the sthool. I&S and Safeguarding.. The inueased emphasis placed by ISI on 8tsvernor< responslbilty and the ability to provide evidenee that those respons1.1111e$, particulaty in règard5 to thild protection and health and safety. are being propedy dNthaTged. are areas for maintalned vi&4lancè. These are areas for ongoing engagèment and maintained aWane$S. Govemors must be able to demon5trdte to tsi that they are aware of the issues and that they have dsscharged their responsibilities. To thai end H&S and CP are now èarty agenda items at fvll Counul meetings artd key pollcles are remewed annually. Coundl estabjishèd a Covid-19 Workine Group to Ove theschooys management of the coronthrus Outbk Futhn(ial effec¢ Of5t3rrteVets ththtyear Politkal and economic uncertalnty ha* been an evident and enduring rtsk. Thrs has had a sigrtifitant impart on school operaiions and theffinantsal position of thè sth¢)ol has been affected by than8es to working practe$ and expectatlons of some parent& The Counol has a8ain examined the principle a3$ of thè schoofs operations, Identifying new risks and re- assesslng those already highlighted. The Council rs satisfied thatall kngwn risks are rJJrrentJy managed or have 5V5tems in place to mitigate them. The key controls US by the Courtal indude: Fornial aBendas and minutes for all Councm and committee meetings: Detailed Terms of Reference for all commitiees,. Comprehensrve strategic budgetsryand ffinanoal planninB and management acctyjnting.. Formal written polities and procedures, Induding OA health and safety and chikl protertion isyjes; Éstsblished organlsational and reportin8 Strurtures: Regular re¥ièw and approval of kty polioes- Crisis response procedures (updated July 2012 and reliewed annuallyl- External audit reports and ISI Inspection reports I most recentty 20191. 19 tomFqTry14urnbertsXIM2 Chaw NumbET30n3s
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL. INCORPORATING THE STRATEGIC REPORT For the year ended 31 July 2023 SBrtIDn 172 rt Incor tin stsiemènts of Em I e and siakeh IdÈT eme Thegovernors of the school. as directors of ihe company. must art in theway they consider. in good falth. would be most Ilkely to promote the succes5 of the company forihe benefft of it5 members as a whole and in doing so he regard to.. al The Ilkety conseqtserKes of any detision in the fun bl The Interesis ofthe coMpanS emplgyees cl The need to foster the tompan¢s bu%ne55 relaifionships dl The impact of the companvs operations on the community and the enwronment el The desirability of the company malntainln8 a reputstlon for hl8h srandard5 of buslness condurt fj The need to a¢t fairly For charitsble companie5 wilh purposes that are not aimed to benefil the rnembers, the aoard has to act in a way that promotes the success of the wider tharitable purposes. This will incooorate ihe desire to meet the requlrements of all stakeholders, being benèficiaries, both pupils and the wider eommunity, Staff, donors and fee payers and supplier5. The Governors of St Swithun's School (Winchester) consider that they have acted in a way that is m05t likely to promotethp 5utte5s of thetharitable purpose. as set out in aim5 and objectives on page 5. in the followin8way.' al The like consequen$ of any deciskn in the lon8 run. - The G0mOr5 have considered ihe lon8-term sus&nablr of the sthoofs operations. as set out In the Goln8 Concern seetion of ihe 5tratewc Report on page 9. -Councll sets and approves strategic dirertion and poliry. meets three trmes each year and additional as requlred. Council monitors ihe work ofihe schoof5 management tÈam5 throv8h I committees and through vlsits to the school. Stsndin8 Comfflittee reviews the Schoofs financial plans on a terrnly basi5 by monitoring income and èxpenditure a8ainstforecastswithin the context of the annual budeet and a iollin8 10-year financial plan. Capital expendilure plans and cash flow requirements afe also closely eviewed, partiojlarfy in the Irdht of the khool's Ixrrowing ¢ommitments and rÈpayrnent requiremen Aisk management is inwrporawl inio all of the school's operations and robust risk mana8ement procedures are well established. The most significant risks afe discussed at each relevant Council 5ub- committee. Further detaits are cuntzined in page 19. - The Governors revlew and endorse all politie510 ensure conslsient long term regulatory compliance. bl The interests of the comp3nVs employee5. incorporatin8 Ststement of ensa8ement with employees.. Authoritaifve and ftequent tomrnunicaiion wth siaff 15 essential. siaff are kept infomed about staffin& finanaal and sirate8lC iSSUE5 affertir¥ them and the 5th001 through a terrnly update and ihen weekly staff meetlngs. - Full deialb of the employmènt p)Ilcy are contalned on paee 16. - The G¢)vemors re¢elve gUlar reports on staff matter5 through the Headmi5tress' temlly report. All Governors condurt visits to school wherè OPF)Ortuhity Is made for dirett staff engagement. 20 C(knwy NuMberL1069? L)aftty Number307335
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL. INCORPORATING THE STRATEGIC REPORT Forthe year ended 31July 2023 nu - All staff were involved In the eathi thge5 of the strategic pn devdopmenL and all are updated on the plan and prlorities ai the stsrt of eath academicyear. Meaningful engagement enctyjraged through the stzff forurn where Èmployèes across all departmeffls discuss and make recommertdationsdirect to senior management. A staff survey in 2020 reported high levels of satisfaction and the school plansto repeat ttrus procw A diverse programme of well-bein8 attivlties is available to all Staff. The Company has complied wth the ufs Equality Act 2010 Regulatsor 2017 that requlre the publitation of inforniation on the gender pay gap for employees annualty. The 2022 report Is available on website. cl The need to forter the eompanvs relat11PS wfth stakeholders. incorpoFatin8 Strtement of compa5 busines5 relationship -The tharitys benefitiaries and donots areth•focus ofall the schoofs operations. -Afairandconslstentselecrion policyen5ure5 andthriwrystudent bodythat is fvllysupported throughout their edutation from nursery to extemal examinations results. enabling admisSn to all universrties and preparing pupits for later life beY¢d theKhooJ gaie5. - 5rrong recruitment of the best teachers and valuiftg of staff supports the stabilty and hiBh standard of education. - A fair poliry of bursary awards. conystentlyapplied. suppgrt familie5 who may not otherwise be able to act education at the sthool. - The parent tontrart forms the b354s olthe relationship with fee payefs. This is reviewed regularty to ensure best practice and then applied falrly and consistsntly. Parental engagement Is malntained through weekly corre5pondente 3nd temty publication& -1 suppliers aretreated falrfy and pmmpttywith busintss tems adred to. Local and orporate supplies a relmbufsed M request. The Company comleS with the Ufs Payment Practices Regulations that requi the publlcation of infomiation on the supplier temis offered and average payment ststistics. The Juty 2023 Calculat has been uploade(I to the Government portal and avallable to review. - Counol receives regular p0 and updates in fvndratslng regulations and guldanee through the Bursary, Fundraisin8and Public Benefit Committe& The sthool dots not aw8e with anyextemal thlrd party fundraisers. dl The impart of the comparfs operatlons on rhe commun6ty and the environment: -Counul supports the 5th0 to undert3ke a fvll provision of cornrnunity and partnetship &tity - Full details arè contsined in pa8e 7. - The Company has completed the Energy Saving5 Opportunty Stheme IESOSI reporting requlrèments phases l and 2, and reports under the Streamlined Ener8y and Carbon ReportinglSECRI on page 23. 21 04rftyNumbtr307335
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL. INCORPOIiATING THE STRATEGIC REPORT For the year ended 31 July 2023 cllon 172 rt Inco tin Ider t el Thè deslrablllty of the company malntainin8 a reputation for high standards of busine55 condurt= - Thè Comparfs Polity. that has been approved bycoundl, sets out the re5ponsibllitles ofstaff to report any incrdents or suspicion of fraud, bribery 01 corruption arisin8 in the course of their work and to cooperate fully with related invesrigatiorts. The School takes a zero tolerance approach towards fraud. brlbery and Corruption. The Whislle blowing policy support5 staff In this approach. n The need to artfaidv.. - All governors and senior staff cornplete an annual Conflitt of InreSt dedaration. There have been no reported incidents of unaceÈpt3ble relationships. Streamllned Ene and Ca nRe SECR The SECR disclosure presents our cartKin footprint within the United knTr8dorn across Stopè 1, 2 and to me exteni scope 3 emissions, an appropriate intensity metric, the total ener8y use ot electricity, 8a$ and transport fuel and an enefgy effitiency actions summary taken during the relevant financial year. Yvdr to 31 Jvl 2023 5.701.035 Year to 31 Jul 2022 5,973,154 £neY8y con5umptign used to calculate erni5sion5 (kwh Emlsslons from coMbU10n of gas (Scope 11 tcoie Emi55ion5 from cOmbu10n of fuel for trnnsport oses (Scope I ICO Emlssions from business travel in rèntal cars or emploYewned vehicles where tornpany is res on5ible for urchasing the fuel Isco tC02e Emlsslons from purchased eleciTiuty (Scope 2. location-basedl tC02e Total gross tC02e based on above 742 794 32 31 306 285 1.085 i.iis Intensity ratio ItC(he/total square metres Im11 0.045443 0.046686 ffici Action Svmm -year 23 St. Swithun's Sthool remalns committed to athievire both direct and indirect energy sa78$, aswem a5 reducing associaied carbon emissions through a cornbination of operational and lechnDlc6ical Improvements. During this f1naftti year. the s¢hool has undertaken several kèy inltiatives to enhance energy efficiency: The sthool has upgraded fjts wlndowsfrom sineJ&pane glas5to PVC double*ln& whlth will significantly improve insulatron and reduce energy consumptlon. The impact of thls InitiatNe will be reflerted In the report fgr the next financial year. The Sthool h35 attNely encouraeed the use of publit tTan5poriation arnong Its community members, ultIng in a decrease in individual mileage for 2023. This initsatNe nol only redltces the schooys owall carl)on footprint but s0 fosters a more sustalnable and environmentally conscious culture. 22 company1MberlI1fj691 Chètity Nufflb 3D7335
St Swithun's School (Winchester) (a company limited by guarantee) REPORT OF THE COUNCIL INCORPORATING THE STRATEGIC REPORT For the year ended 31 July 2023 affilintd Ener and Carbon Re Cstlosure contlnued These ener efficlency alliorts demonstrate tht sthool's OWdoin8 tommitment to sustslnabilty and environmental re5ponsibiJity. Rme ol ot Re ortln Period I. Au $12022- 31" Jul 2023 Boundary lconsolldation appfoachl Operational approath Alignment with financial reporting SECR disdosure has been ppared in line with St. Swithun's Sthool's annual accounts made up to 3111 Ju 2023 GHG Emi55ions reporting are in line wilh the Greenhouse Ga5 IGHGI Protocol orate Accountin and Re ortin Standard OEFPA. 2023 for all ernission5 and conver510n fadors s".Ilwww. vernmenv icationsl nho ortin -conversion-facio Activity Dats x Emission Fartor= GHG emission5 Activi Data x Conversion Fartor= kwh consum tion The rtport contains an estimated dectrioty consumption. However the e5tirnated eltrtriaty consumm] is less than 1% of the total energy consumption. OieseS and petrol split were not available from Company mlleage. Spl6t was made usin8 VEH1103 statistits htt 5'.llwww. overnmcntl$tatisti¢al41th-setythicI li¢ertsiD .staiistics-da-tables St. Swithun's Sthool is an independent day. weekty and fvll-boardlr school therefore followne the recommendations of the leglslatlon the thosen intensity metric ts total square meters, expre55in8 the sthoofs annual ernissions in relation to this uantifiable factor. The rèsults in the table are expressed irt tons C02e and may notadd up prèci5ety to the totals due to rounding. Reporting method Emissions fartor & Conver*on factorsource Calojlation method Other relevant information on calculation Reason for the Intenslty metrlc cholce Roundlng Comp>Ar¢1JlJo6Yz Nufflber307335
St Swithun's School (Winchester} (a company limited by guarantee) REPORT OF THE COUNCIL. INCORPORATING THE STRATEGIC REPORT Foi the year ended 31 July 2023 RESPONSIBIUTIES OF MEMBERS'OF THE COUNCIL The Council Members Iwho are also direttors of Si Swithun'5 School Iwinchesierl for the pvrp?5es ol companv lawl are responsible for preparing the Council Report and financial statements in accordantèwith applicable law and united Kingdom Accounting Standard5 (United Kingdom Generally Actepted Accounting Pratticel. Company law requires the Council Mernber5 to prepare financial statements for èach financial year. which give a true and fair view of ihe State ol affairs of the charitable cornpany and the group and of the incomin8 re50urce5 and application of resources. inclutling thè Inttjme and expenditure. of the charitable group for that period. In prepaflne Ihose fvnanoal statements. the members of the Council a ieouiied to'.- select 5Ultable actounting policie5 and then appty them consi5tently' obsÈr¥t the methods and PTintiple5 in the Charitie5 SORP.. make jud8ements an*J.estimates that are reasonable and prudeni.. state whether applitable UK Accounting Standards have been followtd subject to any material departures disclosed and explained in the finantial 5taternents.' and prepare rhe financial statements on the going concern ba515 ullle5S It is inappropriate to presume thatthe tharitab Company will continue in businE55. The rnember5 of the Council are responsible for keepin8 proper atcountirE records which disclose with reasonable accuracy at any time the financial positlon of the charitable company and to enablt them to ensure the financial statements tomptywith the Companies Att 2006. The members of the Council are also resptynsible for safe8uardin8 the assets of the charitable company aftd ihe 8roup and hence lof taking reasonable sieps for thepreventton and detettion of ffaud and other irre8ularilles. INFORMATION PROVIDED VO ThE AUDrroR The Members of the Council who were in office on the date of approv31 of these financial statements have confirmed. as far as they are aware. that ihere is no relevant audit information ol which the auditor is unaware. Each of the Mernber5 has confirmèd thai they have tsken all" of the steps that thry ought to have taken as dirKtor5 in order to make ihernsefves aware of any relevantaudit inforniation and io establish that the auditor Is aware of that information. Audltor Crowe U.X. LIP oller themselves for reappointment as auditor in accordance with the Cornpanies Act 2006. The Report of the Council and the Strateglc Report were approved on behallof the CouAtII. LJNL A. MeCLure Chair Dète.. Ib 2013 24 Company Number rDL10651 Ch•ity Nurnbpr307335
St Swithun's School (Winchester) (a company limited by guarantee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF STSWITHUN'S SCHOOL (WINCHESTER) Indépendent Aud•torfs Reprwt tothe M•nbÈrsof% Sw•thurfsSthool Iwinthester) Opinlon We havè audited the fjnancial statements of St Swithun's Sthool'the charitable companv and its sub5idiary'the 8roup' for thè vear ended 31 July 2023 which compfise the Consolidated Statement of Financial ACt[vie$, Consolidated and Company 8alance Sheets, Consolidated Statement of Cash Flows and notes to thefinanoal ststements. induding si8nlficant accountln8 policies. The flnandal reporting framework that has been applied in their preparation ts applicable law and Unrted Kingdom Accountong Stsndards. induding Finanoal Reporting Standard 102 The Finanual Reportin8 Standard appllcable in the UK and Republlc of Ireland IUnitÈd Kingdom Generalty Attepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the8roup's the tharitablè comn¢$ affair5 as at 31 July 2023 and of thegroup's income and eypenditure. for the year then ended: have been properly prepared In a(rdance wrth United ngdoM Genwally Accepted Accounti Practi. and have been prepared in accordan wlth the requirements of theCompaniesAct 2006. Ba$15 lor opinion We conducted our audit in accordance with Intemational Standards on Audtting IUK) 11&4s IUKII and applkable law. Our resPonbIlltles under those Standards are further describe¢l in the Audrtorfs respon5ibilitie5 for the audit of the financial statements section of our report. We are independent ofthegroup In accordance Ath the ethlcal requlrements that are relevant to our audit of the finanaal statèments in the UK induding the FRCS Ethical stsndard. and we have fulfilled our other ethical rèsponsibilities in accordan wlth these requiremen We beliv4e that thÈ audit evidence we have obtsined is suffictent and appropriate to provide a basis for our oprnion. Condusions relating togoing ctsnn In auditing the financial statements. we have conduded that thé tntstee's use of the going tontem basis of accounting in the preparation of the finanaal Statements is appropriate. Based on the work we have performed, we have not idenfied any matertal uncertatnties relating to events or coThJition5 that indNidually OT collectively, may cast signifjcant doubt on the thoritable company's or the group's ability to confinue as a going concern for a period of at least tmelve months from when the ffinanoal statements are authortsed for Issue. Our responsibilitiès and the spOnSIbl1rtles of the tntseeS Wth respettto goingconcem are described in the relevant sertions of thi5 report. other Information The trustees are responsible for the other information contained within the annual POrt. The other information comprises the informatlon included in the annual report, othèr than the finantial statements and our audr(orfs ptsrt thereon. Our opinion on the financial starements does not Cover ihe other inforrnarlon and, except to the extent otherwise expllcitly statèd in our reporL we do not express any fofm of assurance conclusion thereon. Our re5pon5ibilty ts to read the other inforrnatn and. in do5ng 50. Consider whether the other information is materially inconsistertt with the finanoal staiements or our knowledge obtained sn the audit or othewse appear5 to be materialty misstated. If we tdentify such matèrial ineonslstenties or apparent material misstatements, we are requi to deterniine whether this glves Tise to a material misstatement in the finanual statements themselves. If, basedon theworkwe have perforrned, wecondudethatthere isa materrzlmrsstatementof thisotherinformation, we are required to report that fact. We have nothin8 to report ift this re8ard. Opinions on other matters prestribed bythe Cthryanles Art 2(#)6 In our oplnion based on the wcyk undertaken in the course of our audht the information given in the trustees, report. which indudes the dIrert0r report and the strategic report prepared forthe purposes of company law. for the finantial year for which the financial statements are prepared is tonsistent with the flnancial statements,. and the strategic report and the directorf report induded within the trust report have been prepared In accordants wlth applitable legal requiremen C•mp3Ay Nuffltser(XIC691 CVmber3o7335
St Swithun's School (Winchester) (a company limited by guarantee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF ST swrrHUN'S SCHOOL IWINCHESTER} Independent Auditorfs Report to the Members of St Swlthun's Sthool ITAnthesterl {¢ontlnuedl Matter5 on whkh we ar• requtred to report byeKeptloTh In light of the knowled8e and understandin8 of the group and tharitable company and t1r enwionment obtained in the course of ihe audit. we have not identified material rni5Staiements the strntewc report or the dirertors, report included within thp trustèe5' report. We have nothing to report in resp of the following matters In relat to which the Companie5 Art 2CKJ6 requlres us to report to you if, in our opinion.. adequate and proper zttounting re¢ords have not b&n kept: or the financial statements are not in a8reement with the accounting records and returns- or Certain disdosus of trustees, remuneratton Splfied by law are not made,. or we have not received all the information and explanations we require for our audit Respt)nslbllRles oltrusitts As explalnÈd more in the trurtee5' responslbilitiès statement set out on page 24, the trustees (who are also the directors of the charitable company forthe purposes of company lawl are re5ponslble for the preparatlon of the financial stataments and for being satisfied that they gNe a true and fair ew. and for suth intemal contiol as the trustees derMIne is nece55ary to enable the preparation of finanual 5taternents that are free from material mi551atement. whether due to fraud or error. In preparlng the financial statements. the trustees are responsible for assessbng the charf(able companTrls abiltty to contsnue as a 801118 concern. disdosin& a5 applicable. fflatters related to going ¢oncem and usirhg ihe go1 concern basis of accountin8 unless the trustees eithef intend to liouidatethe charitable ttjmpany or to cease operations, or have no realisticalternattve but to do 50. Audltorfs responslbllltlts for the audit of the flnancial statements Our objertfjves are to obtain reasonable assurance about vthèthÈr the finantial statements as a whole are free from materlal mi5Statement, whether due to fraud oi effor, and to issue an audito¢5 report that includes our oplnion. Rèasonable as5uranee is high level of assurance. but is not a guarantee that an audil conducted in accordan with ISAS IUKI will always detect a material rn15Statement when It exists. Mi551atements can arise frorn fraud N error and are conydered mateiial if, individually 0¢ in the aggregate, they could reasonably be e¥peaed to iftlluence the etonomic decisions of users taken on the basis of these finandal statements. Detai of the extent to which the audit was consldered (apable of detectlre irregularlls. indudong fraud and non-compllance wlth law5 and regulations ale set out below. Afurther description of our rèspon5ibilities for the audit of theffinancial statements is located on the Financial Reportingcouncil's wébstte at-. www.frt.or auditor . This description forms part of our auditorfs reporL Extent to whlch the audlt wa5 nsided capable of detealng IrreBularlties. Indudi8 fraud Irre8vlarities, includin8 ftaud, are instances of notrmmpllance th laws and re8ulation& We 5dentllled and assessed the rlsks of material misstatement of the financial statementsfrom lrfe8ularits. whetherdueto fraud or error. and discussed these between our audit tearn member& We then dvgned and performed audit protedure5 respon51ve to those risks. lrnduding obtaining adit evldentt suffitient and appropriate to provide a ba515 ft>r OUT opinion. We obtained an understanding of the legal and regulatory frarneork8 within which the tharitable company and group operates. fccusing tsn those laws and regulations that have a dirert effert on the determination of material amounts and distlosure5 in thè financialstatements. The laws and re8ulatlons we considered inthts context werethecompanies Act 2006. the Charitie5Act 2011, tsxation le&slation, together with the Charities SORP IFRS 1021. we assessed the required compliance with these laws and regulations as part of our audit procedures on the related financlal rtatement rtern5. In addillon, we considered provisions of other laws and regulations that do not have a direct effect on the flnancial statements but compliance with whgch might be fundamentaj to the charitable companvs and the group'5 abilrty to operate or lo avold marerlal penalty. We alsoeonsidered the opportunities and InCente$that may existwithin the charitable company and thegroup for fraud. The laws and TeBulatlons we Considered in thi5 contèxt for the UK operations were The Education Ilndependent School Standards) Regulations 2014, Data Prgtertion Re8ulation IGDPRI, Health and safety le$tatiOn and employment leglslatioN. 26 CompatyNumbw Lth10692 Charky Nymber307335
St Swithun's School (Winchester) (a company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST SWITHUN'S SCHOOL (WINCHESTER) Independent Audlt•rfs Rewt to the Members of 5t 5¥Athun's 5tho¢A IWu*he#vl (uKrtlnuedl Extent to whi¢h thè authwas consIrerf capable of deteCg irre8ularttle5, Indu(fingfraud Iwitlnuedl Auditing standards Ilmit ihe required audlt procedures to identtfy non-cornpjian with these law5 and 8latiOnS to enquiry of the Trustees and other rnanagèment and inspection of regulatory and leBal correspondence. if any. We identified the greatesl risk of moterial impart on the finanoal statements from Irregulaflties, including fraud, to be within the timing of recognition of donatlons Income and other anollary Income. and the override of controls by managemenL Our audit procedvies to respond to thésè risks induded enquiries of management and the Standing Committee about their owo identifitation and assessmènt of the risk5 of irrelaritIes, sample testing on the posting of journals. reviewlng accounting esiimates for biasès, reviewing re8ylatory corresp9ndefi with the Charity Q)mmission, Independent Schools Inspettorate, Ofsted and reading nuteS of mTra$ ofthose thar8ed with 8o¥emance. Owing to the inherent Ilmltations of an audiL the is an unavoidable risk that we may not have detected Some material mi5Statements in the financial statements. even though we have property planned and performed our audit bn actt¢rdante with auditingstandards. For example. the furthèr rÈrnoved non-cornpliance with laws and regulations lirregularitiesl t5 from the events and tsansartions reflerted in the fjnanaal ststernents, the le$5 likely the inheretI¥ limited procedures required by audlting standard5 would identlfy IL In addition, as wth arby audll there remained a hi8her risk of non4etection of irregularltiès, as these may involve collusion. forgery. intentional omfjsslons. msrepresentations. or the override of internal controls. We are not Te5ponsible for preventlng non<ompliance and cannot bè èxpected to dètect non-cornpliance with all laws and rÈ8ulation& Use of our report This report is made Sole to the Charitable cornpanvs Thomber¥ as a body, In accordance wlth Chapter 3 of Part 16 of the Companles Act 2006. Our audit work has been undertaken $0 that we might state to ihe drItable companrf5 members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fUlst extent permitted by law. we do not accept or assume responsibilty to anycine other than the tharitable company and the tharitable ¢ompanVs members as a body, for our autlit worK for this reporL orfor the opinions we have formed. Nicola May Senior StatvtoryAuditor For and on behalfof Crowe U.K. LLP Statutory Audrtor London Date.. 12 08cemter 2023 27 llumber00110692 rMer3D79)S
St Swithun's School (Winchester) (a company limited by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (fjNoTrorarMw*b[LYTreandoxpEndttLeiIl1} forthe year ended 31 July 2023 Sthool Endowment Fund 2023 Restricted funds 2023 Total 2023 Total 2022 Note 2023 Income #nd efidowmentsfrom Donatlons Charltable actlvltles School fees Antillarytrading in¢tsme Trading turnov Inve51rnent incomè Other income 237.086 237,086 262.535 16,216,255 755,379 16.216,255 15.565.560 755.379 630.010 422.628 105.926 422.628 150.543 285.848 46,630 1.169 43.448 Total In¢omlnK Resources I7.5.188 1.169 280,534 17.781.891 16,790,583 Expendlture on Chadtable actNities Aaising funds Other- Finance costs 4 17.CV32.250 216,107 223,829 236.710 17,330,960 16,043,223 216.107 175.S19 223,829 121,584 Total ReSoUe5 Expended 17.532.186 236.710 17,770,896 16.340.326 Gainsl Ilossesl on investments 20,301 14.2671 159.6331 143,5991 10,958 NET INCOIAE FQII THE YÉAR Transfer otfund5 111.6971 15.0981 115,8091 132,6041 461.215 27,404 {27.4(Ml Pen5i9n Scheme actuarlal losses 18 NET MOVEMENT IN FUNDS 15.707 15.0981 143.2131 132.6041 461.21S balan brou8ht forward 30,70L125 66,219 2.192,31S 32,959.659 32.498.444 Balance tairied foThrérd 30.716.832 61,121 2.149.102 32.927.055 32,959,659 All of the sthool'5 activitie5 relate tocontinuing operations. 28 Compafty NumberOOIIC692 Chariry Number307335
St Swithun's School (Winchester) (a company limited by guarantee) CONSOLIDATED BALANCE SHEEr as at 31 July 2023 Note 2023 2022 Axed assets ran8lble assets Investments 31.697.480 3L648,226 2.375.264 1168.a63 34.072.744 33.817,089 Current assets Oebtor 61L326 6.043,268 489,586 5,920,925 Cash at bank and in hand 6.654.594 6,410,511 13A19,2861 13.069,1991 Creditors.. amounts falllngdue wlthln oneyear Net uJrrènt assets 1835308 334L312 Total assets s$ lnt 4abllfties 36S08,052 37.158.401 13.980.9971 {4,198,7421 Creditors: amounts fallingdue after more thèn one io 32.927.055 31959.659 Unreslrfcted fvnds 30.716.832 30.701.125 2.149.102 2.192.315 6L121 66,219 Restritted funds Endowmentfunds li li TOTAL FUNOS 32,927,055 32,959,659 The deflcit for the finandal year dealt with in the fiftanoal thttments of the parent company was £248.51512022 surplus of £342,11. nclal statements were a proved and authori5ed for e bythe Counul on 16 fyJtsJernber 2< "L J /gL. A Mcaure A-L Peters Members of the Council The accompanying accountin8 Wides and note5 form an Intwal part oftheseflnancial statements. 29 Companyrnh¥0)llo$9Z harty11Mtr307YJ5
St Swithun's School (Winchester) {a company limited by guarantee) BALANCE SHEET as at 31 July 2023 Note 202.3 2022 Flx¢d assets Tangible assets Investments 30.998,975 30.949.721 2,375.265 2.168,864 33.374.240 33.118.585 cur.rent assds Debtors S75.102 471,679 5,826,733 Cash at bankand in hand 5.971.513 6.546.615 6,298,412 13.742.341) 12,988,134) .Credliors: amounts talllng due wlthln one year Net oJrrent assets 2.804.274 3.310,278 Total assets le55"current Ilabllities 36.178,514 36,428,863 13.980.997) 14.198,7421 Credltors: QuI lalllng due after more than one year io NEW ASSETS 32.197,517 32,230.121 Unrestri¢ted funds 12 29,987,294 29,971,S87 2.149,102 2,192,315 61,121 66,219 Rettrllled funds i"1 Endowment funds li TOTALFUNDS 32,197,517 32,230.121 The ancial statements were approved and authotised for155ueby Ihe Council on l& e* 2023 A Mc(lure A-L Peters Members of tht Councll The accompanying accounting policie5 and notes form an integral part of these financial St3MentS. 30 CDmpany Number00110692 Charity Number 307335
St Swithun's School {Winchester) (a company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 July 2023 2023 2022 Net cash Infiow from opewatknts 14 L795.591 1.590,711 Cash flows from imiestine activities Purtha5è of tangsble fixed assets Assets In the course of constnjction {283,765) 1816.6201 12SO.¢J)01 1319,3871 1315.5491 1750,t)JOI Purchase of fixed asset investment Proceeds from salè of current asset insEMents Interest from Imiestments 150543 46.630 Net ¢ash used in invesUn8 artlvltles IL199,8421 (1,338,306) sh flowsfrom financing attivities Repayments of borrowlng 1473.4061 1402,4181 Net cash Pfovlded byfinaftci artivities 1473.4061 1402,4181 Change In cash and rash equlvalentsln the reportlng pertod Cash and cash equivalents at thè beginning of thè period 122.343 S.920.92S iiso.otsi 6.070.938 Cash and cash equwtslents at the end of the r•prytini period 6,043.268 5,920,925 31 CompanyfknbortOLIOS92 Ch*rltyNuThber307335
St Swithun's School (Winchester) {a company limited by guarantee) ACCOUNTING POLICIES forthe year ended 31 July 2023 ACCOUNTING POLICIES PUBLIC BENEFIT ENTITY The School Is a public beftefft èntity rtystered as a charity in En8land and Walès and z tompany lirnited by guarantee. It was incorporated on 08 July 1910 Icompany nurnber CQ1106921 and re8i5tered as a tharity with the Charities Commission tharity number 307335. The finanaal statements have been prepad in accordance wrth the Finanual Reporting Standard applicable in the UK and Republic of Ireland IFRS1021. the Companies Act 2CQ6 and the Statement of Recommeftded Prath applicable to charitie5 preparlngtheii accounts in atcordancewith the Finanaal Reportingstandardzpplicableinthe UKarbd Republitof Ireland IFRS1021 - effective l January 2015. The funrtional currency ofthe School Is con51dered to be G8P because that 15 the curreny of the prirnary econvrnic environment In which the school operates. The accounts are drawn up on ihe hlstorlc cost basls of ac¢ountir& as modlfied by the rvJaluatlon of Investments and penslon GOING CONCEAN The Council has considered several fartors when forming their condusion as to the use of the going concern ba515 for the preparation of these financial statements induding a review of the updated forecasts to 31 Juty 2025 and a con5deration of the key risk5. These include the impact of extemal economit fartors intluding thè potential political thanges irt independent sthool taxation and energy market volatinty, that could ne8atNety imp?rt the 5thod and workin8 Capital requiTernents. The forecast wrpluses for 2023-24 and 2024-25 refflect known thanges in sthool taxation and the effetts of the global energy market crlsl% whlch Benerated a 5CIJ% rfse In enerby tosts. This sits algngyde a 5ignifiont rise in natlonal inllation ond stron8 upward pressure on staff salaries- all pressures by which the school is equally affected. All these fattors have inewtsbly caused significant increasÈs in the operatin8 C05t base of the school. However, the Council Is tskin8 measures to assessthe likely irnpatt. alleviatethe pressure whilst maintaining rhe level of commitment to the education of the gtrts and developins the offer to meet the expectations of parents now and in tht future. Sustaining and Increasing pupil numbers remains a key risk, whith 15 asse55ed on an ongoing basls. The school has made a tttnfideni start io the sthool year with 710 pupi15. Th15 is In Ilne with ihe budgeied roll set In May 2023. Fee income for the first term of the 23124 school year ha5 been strong wilh an inditation ihat payment of fees wÈll be ¢onsistert with previous years. Early indication5 a strong forthe September 2024 intake. At the yearnd, the sthool had Sur5 free reserves of E2.03M. This Cgrnpri5es £5.2M unrestrirted cash plus £754K workin8 capital les5 creditors of £3.92M. Council reviews the 5thoofs finantial plan5 on a termty ba5i5 by rnonitoring ncome and expenditure a6ainst forecasts within the context of the annual bud8et and a rollin8 10-year financial plan. Cash flows are also closety reviewed. particularly in the light of the School'5 borrowin8 commitments and repayment requirements. Finafttial Sensitilty analysis is Intorpoiated tnio Council Information, centred on key assumptions Iroll. fees and staff c05tsl. Council reviews all known major risks to the school and states the actTron being taken to alleviate them on a rolling annual basis. The key risks towhi¢h thes¢hotsl is subjert are hIghghted in thestrategic report. The 5ch¢xJfS5trate'C development plan Temains dynamic and will befurther re¥iewed oncethe impaciof the ongoinB ener mzrketvolatility is better known. It is notantlcbpated that thls wlll change the underpinningaim5, vision or hoS of ihe school. 32 CoMpaV Nwthbe*fX1110692 ChaiityNumDÈf3D7335
St Swithun's School (Winchester) (a company limited by guarantee) ACCOUNTING POLiaES for the yearended 31July 2023 GOING CONCERN Icontlnuedl Having regard to all the above, the Govemors have a rèasonable expectation that the Sthool has adequate rèsources to contlnue Its adfvities for the foreseeable fvture and conslder that there are no materi31 uncertainties over the schoofs finantial viabillfy. Accordinoy. they Continue to adopt ihe gnE Concern basis in preparingthe finantial Statements a5 Qutlined in the Statement ot Members Respon5Ibiliti on pa8e 24. GROUP ACCOUNTS These financial staiements consolidate the results of the tharity and its Wh1V-oWn¢d subsrdiary St Swlthun's School Letting Cornpany Llmlted (company number 019314721 on a line by Irne b85i5. No Separate SOFA has been presented for the Charity alone, as pemiitted by Section 408 of the Companies Art 2(XJ6. The tharity has taken advantage of the emptIon awdilable to a qualifyln8 entity In FRS102 from the requirement to present a tharity onEy Cash H¢)w Statement wfjth the con5011dated finandal statements. CRITICAL ACCOLIN71NG JUDGEMENTSANO KEY SOURtsS OF ESTIMAMON IJNCERTAIMTY In ihe applicallon of the accountlng polities. Trusiees are required to make judgernenL estimates and assurnptions about the carrying value olassets and lfjabilities thatare notrèadilyapparentfrom others0yr& The estimates and underlying as5umptlons a based on historfcal experience and ¢ther factor5 that are considered to be leVant. Actual results may differ from these estirnates. The estimates and underlying assumpiions are reviewed on an ongoing bas. Rtvisions to accounting estimates are recognised in the period in which the estimate Is TSe If the revision affects only that period. or in the period of the revision and future periods if the revi5i0n affected current and future period& The key estimates and Judgements whith impact the finanoal statements are.. Assumptions adopted by managemeni and use bv the actuary to calculate the pension liability. and a$sMents0f remalnin8 useful Ilfe and Impaimients of asse and aswsrnent of the bad debi provision. In the view of the ttees, no assumptiOAS COrtemin8 the future or estimation uncertainty affe¢tiry4 a$5ets or liabilities at tho balan sheet date are Ilkely to result in a rnaterial adjustrnent to their carryin8 valve In the next finanual year. The following accountlng poliaes have been appli tonystenty in deal8 with Trtèrns whkh are tonsidered materfal In relatlon of the school's financlal statements FEES RECEIVABLE ANO SIMILAR INCOME Feé5 receivable and charees for seNces and use of the premlses. less any stholarshlps. bufsaries or other dlscounts 8ranted by the sthool a8ainst those fees, but Induding contributions ye1¥ed from restritted fvrtds, are accounted for in the period in which the servlce is provided. DONAnONS AND GRANTS DonatÉons and other voluntsry incomlng resources received whith are wbject to specific wlshes of the donors are orrled to relevant restrirted fund5. as and when entltlernent arf5es w*ith be reliably quantifled and benefit probable. 33 C•rnpanyNumbErTrJ110692 ChartyNumberW335
St Swithun's School (Winchester) (a company limited by guarantee) ACCOUNTING POLICIES forthe year ended 31 Juty 2023 EXPENDITURE Expenditure 15 aTett as 500n as a liabifity is considered probable, discounted to Present valve lor lon8er-term liabilities. Expenditure is allocated to e¥pen5e heading5 either on a dlrert C95t ba51S. Of apportTroned on a consistent ba515. ThE irrecoverable element of VAT Is Included wlth the item of expense to which it relates. Governance costs comprlse the costs of running the charity. induding 5trategit planning for its future developmenl also external audlt, any le8al athS¢e for the Council and all costs of cornplyin8 With constrlutitrnal and statutory requiremenis. FIXED ASSETS Fixed assets are included in thèse financial statements at their 9ri8inal CDSt depreciatitsn. All iterns tostin8 in excess of £l.000 are capitali5ed and depreciated according to Ihe poliry below. This is an uplift from the prewus pollcy of £SC•), althgU8h kev Indlvidual items whlch fall under the hher cost may still be capitalised. All fixed a55ets are used In direct furthernnce of the sthoofs objectNes. DEPRECIATION Depreclatlon is provlded gn all tan8ible fixed assets wilh ihe excepiion ol land at rates calculated io write off the colls less estimated residual value gn each asset, by equal annual inslmes. over thelr expected useful live5 whlch are con51dered to be.. Freehold land nrf Freehold buildin85 50years Furniture and fitttn8S 5 years EquiprnEnt 4 years Assels In the course of con5tructlon rAI PENSIONS Retirement benelltsto employees ofthe sthool are prOded throu8hthree pensionsthemes. two defined beneflt aNI oned?fined ontribution. The penslon costs Charged In the Statement of Finanual Aclivitie5 are determined as follows= Teachers areall enrolled in ihe TeachÈr< Pension Stherne. whith15 a mulll-eryiloyer pen5bon scheme. 1115 not possible io identify Ihe school's share of ihe undeflyin8 assets and liabilities of the Teather5' Pension Stheme on a consistent and ieasonable basis and therefore, as requlred by FR5102. accounts tor the scheme a5 rf it were a delined contribution schemè. The school's tontrlbution¥ whith arè in accordance with ihe recommendations of the GovemmentArtuary. are charged in the period in which the salaries 10 whith they relatt are payable. Ngn-teaching rnembers ol staff appointed before 31 December 20CKI were offered mernbershtp gf a defined benefitstheme. The assets of this scheme are held sepJraieW from ihose DI the schoDI. bein8 tnve51ed with insurance companie5. The pension cost5 for that xheme represent the contribution due bythe 5th001 bastd on the charges cakulatèd by the Sthome's artuaries, so a5 to ensure that the re8ular pen5i9n costs represent a substaniially lev1 percentage of the Current and expetted future pensionable payroll. The scheme closed to future attwal on 31 March 21x17. Remaining staff are now deferred member5 of the scheme and full members of the tlefined coniribution scheme. The deflned beneflts scheme Is being accounted for under FRS102. with any nYalty caltulated notional deficit on the tundin8 01 the scheme shown ihe accounts as a pension reserve. whith 15 deducted from Unrestricled Funds in ¢he balance sheet. Any notional surplus is noi tetognised, but tarrièd at £nilvalue.The Council believe5 that the scheme currently Meets statutory fundlng requirement> The Council note that Ihe calculated notional surplus or defiot calculated under FR$102 can vary greatly from year to year depending on the assumptions made at the year ènd. Ful details are Contsined in note IB. The detlned contiibution scheme is a group peTsonal pension plan with Legal & General. Employerfs pensions costs are ¢har8ed in the perfod In which the salaries to which they rèlate ¥e payalAe. Compaty Numberfpx10692 Charlty Numbei a07335
St Swithun's School (Winchester) (a company limited by guarantee} ACCOUNTING POLICIES forthe yearended 31July 2023 COMPOSITION FEES Amounts received under the Khool's Cornposttlon Fees contracts for education not yet uiilised to settle sthool fees are recorded as deferred income and allocated as current nabllilles whwe the education will bp prOlled within 12 month5 frorn the reporting ate and as long-teim liabilities whère the edutatron will be proided in subwuentyèars. DEposrrs Thè Governors have reviewed the contract temis under whith Pupil fee deposits afe held by the sd)ool. AhOUgh under normal circumstance5 these will be repatd over futu years when the puptLs complete their education at the school. pupils can leave at earlier dates. The school does not therefore have an unconditional right to retain the irtdmdual deposits for at least 12 rnollths after the balantèsheet date and. in Itne with the requirernents in FRS 101 the balance of the depostts held at 31July 2023 and at 2022 have been included wthin ujrrent liabilities. INVESTMENTS AND INVESTMENT INCOME Ltsngtem investments are dasslfied as fixed assets. Short temi rnvestmtnts are d35sified as current assets. Investments listed on a retognised stock exchange arev3lued atthe lower of cost and mid-marketvalueatthe balance sheetdate. A surplus or deficit on rèvaluation Is taken to the Statement of Ffjnancial Actfvitles. Unllsted investments are stated at cost. UK Govemmentgilts are dasslfled as wtherfixed or current assets dependw on when they are due to mature. Provision is rnade for any impairment in the value of fixed asset inen Investments in subsidLgries arè Wdlued at cost less provision for impaifment. Investment Income from bank balarKÈs and interest seeuriti& is ¥counted for on an accruals basis. FUNDS Unrestritted fvnd5 are incomiry resource5 receivable or generdtrd forthe objects of the chailty wlthoutfurther specffjd PU1$e$ and arè avaitable as gèneral fund Restricted fvnds are funds subjert to specific conditions imposed by donork The purpose and use of the restricted fijnds are set out In the notes to the finaneial statements. Arnounts unspent 3t the year-end are carried forward in the balance sheet. Oetalls of thesè funds artt set out tn note ii. OPERATING LEASES Renta15 under operating leases are th?rged on a strai8ht4ine basis over the lease temi. even if the payments are not made on such a basis. Benefits received and receivable as an incentive to SI an operats.ng lease are similarty spread on a stralght-line basis tsver the lease terffl. FINANCIAL INSTRUMENTS Basic finanaal instruments are initialty recognised at transaction value and subsequently measured at amortlsed wlth the Exception of investrnents, whith are held atfalr value. Financial assets held at 3mortised cost comprise cash at bank and In hand. together with trade and othey debtors. A specific provision is made for debts lor whith recoverabilrty is in ¢Joubt. Cash at bank and In hand Is defined as all cash held in in5tsnt bank ateounts and used as working tapital. Finanoal liabilities held at amortised ¢ost comprise all ¢reditor5 except sooal security and other taxe5 and provisions. Assets and liabilities held in foreign Curren are translated lo GBP at the balan sheet date at an appropriate year*nd exchange rate. In accordancè with FRSIO2. financial instruments now exclude fees in advance. as are settled by provlsion of education, not monetsry consideration. Nei financral assets measured at falr ValUef theyear-end amounted to £237S.265 In lrtvestments 12022 £2.168.8641. 35 C¢xnpryP•Jmberts)110692 ¢)tirlWP•Jrhber307335
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2023 SCHOOL EARNINGS 2023 2022 The school fees earninB5 comprised Gro$5 fee5 Scholarships Buryartes 17.999,463 17.235.502 1269,1051 1290.2631 11.528,8201 IL348.6721 1179.0201 I2.823) staff and sibfin8 di5couni 16.022.SIB 15,395,744 Add back bursaries funded Bramston Bursary Appeal 193,737 169,816 16.216,255 15,565,560 Bursaries, scholarships and other awards were pald to 120 pupils12022.. 1381. Within this means tested bursaries were paid to 52 pupi1512022=55 pupiL%l. TRADING SUBSIDIARY The sthool holds the onty share in one tradrng company. St Swtthun's Sthool Letting Compafty Llmited whith utilises school a55eiS for trading Purp Surnrnari5ed trading resvlts for the year ended 31 July 2023 are as below. Two mefflber5 from the Council have been appointed a5 dittors of the 5ubsldlary. 2023 2022 Frorn the school External tradtng incorne Investment income 26,760 422,628 1,059 23,520 285.848 63 450,447 309.431 Empendlture To ihe school I6.5 207,776 11,029 166,815 Other costs 224.681 177.844 Profit before tax 225,766 131,587 The Chairman. the Treasurer and the Bursar have received no m)eraOn. didend or any other form of reward or benefit from the tradin8 sub5idlary. The tradSn8 sub5idlary makes an anntsal distribution of its taxable profirs to the sthool. Comp4nv NumbwOOII(WI Number 307335
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the yearended 31 July 2023 ANCILLLARYTRADING INCOME 2023 2022 Extra subjects. trips and travel Registration fees and deposits forfeit Sundry income 568.516 I.108 7L75S 438,212 139.420 51378 755.379 630.010 ANALYSIS OF EXPENDITURE lal Total expendilure Staff Other Costs Depreciation 2023 Totsl 2022 costs Total Raisin8 ftrnds Financing costs 124.858 91.249 223.829 216.107 223.829 17S,519 121,584 124.858 31S.078 439.936 297,103 Charitable actlvltles Teaching costs Welfare costs Premlses costs Support wsts and governan 7.805349 L325.337 681,429 1.799535 1334.926 680,570 1112.368 S40.315 186.774 9327,IM9 2.CIJS,907 864.357 3.658.154 1339A50 8.859,146 1.818.647 3.165.943 2.199.487 IL61L650 4.668.179 1.051,131 17,330,960 16,043,223 11,736.S08 4,983.257 1,051.131 17.770.896 16.340,326 (bl Governan costs of the charity induded in support costs 2023 2022 Remunerntlon pald to current auditor for èxtèrnal audrt 5er¥fjces Costs of ISI inspertion Reimbursement of personal expenses to Govemors-travel 27.C 5.595 916 23.8(0 6.974 472 33.511 31.246 37 Ctynp•nYNWnberl1cffj93 CForityNuMter307a35
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TO THE FINANCIALSTATEMENTS for the year ended 31 July 2023 ANALYSIS OF EXPENDITURE (continuedj No members of Counal recèived any remuneration or othèr beneffts from the school or from any connerted body. Two rnember5 of the Council received reimbursement of expensE5 connetted with attending Council meetings and trainkng. The total reirnbur5ed for the year was £91612022-. one member of th Council received a totsl of £4721. The sthool provides Ilabilhy insurance to the Members of the Counul as port of the sthoofs in5uiantt polky. Icl Net Incoming resources are stated after charwn8: 2023 2022 Audit fees Non-audit fees Dirert taxation Services Opprating lease char8es Oepreciation 39,375 L2 I,iio 76.982 1.051.131 34,071 1,025 73,8(YJ 1,063.398 All fees for audit 5eNces in 2023 and 2022 are payable to Crowe U.L LLP and are stated iThdu5fve of non-recovèrablè VAT. STAFF COSTS 2023 2022 Salaries and wa8es So¢ial security costs Pension c05t5 and Superannuation 8.$55.OSI B22.834 1.566.584 7,999.421 799,122 l.S22,786 10.944.469 10,321,329 Other staff related ¢osts External contractor5 131.971 660.068 L91,935 620,351 11.736.508 11,133,615 A8gre8ate employee- benefrts of kry management personnel The tsener figure Includes the cost of employer nailonal Insuran 1,170.488 1,116,747 Durln8 the year there was one terminailon payments made of £23.4K-12022: £nlll. There was £nil outstanding at theyear•end. The a¥erage number of employees of the group during the yearwas as follow5: 38 Cornwry t•L¥ntserWIIO692 Char Nurrther307335
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31July 2023 STAFF COSTS (continuedj 2023 2023 2022 Number 207 128 2022 Number Tea¢hlng staff Support staff 128 127 78 335 207 335 205 Catering stsff numbers are not induded In thè above talojlations as they are not dlrect employees of the sthool. The number of employees whose gross emoluments exceeded £60.CXKI was: 2023 2022 £60.001- £70.OC £70.001- £80,C £80.001- E90.C É9J,OOi- £iOO,000 £ioo.fy)i- £iio.oco £160.WI-£170.0 During the year contributions were rnade to Teather< Pensions defined benefit Sdrne on behalf of six higher paid employees12022: sfjx employees) and to a defined contribution 8roup personal pension stheme for higher paid employees12022-. two employees). TANG18LE FIXEO ASSErs Freehold Assets in the land and ¢ourse of buildin85 construrtion Furniture ffittings and equipment Total THE GROUP at l August 2022 Additions Transfers Flxed assets written off 43.166525 96.218 s.IcKJ 117,8501 155.ICK) 816.620 I155.1cj 3,080,463 46,402,088 187.547 1.100.385 1225.3011 1243.1511 At 31 July 2023 43.399.993 816.620 3,042.709 47.259.322 r*redall At I August 2022 Provided in the year Fixed assets written off 12.029.448 864.3S7 117.8501 2.724,414 14.753.862 186,774 1,051.1 1225,3011 1243.1511 At 31 July 2023 12.875.955 2,685,887 15.%IA42 Net book amount at 31 Juty 2023 30.524.038 816,620 356,822 3L697,480 Net book amount at 31 Juty 2022 3L137.077 155.IC 356.049 3L648,226 39 Cemp•rylfvMbvO)110692 •rtyNumbÈt7335
St Swithun's School {Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS forthe year ended 31July 2023 TANGIBLE FIXED ASSErs Icontfftuedj Ffeehold Assets in the land and course of buildin85 ¢cstruCtion Furniture fittings and equipment Tota THE COMPANY at l Au8U5t 202Z Addttions Transfers Fixed a55etS Wfitten off 41.967,403 96,218 1SS.ILKI 117,8501 155,100 816.620 1155,1001 2.958.435 45.080.938 187.547 I,ICpJ.38S 1225,3011 1243.1511 Al 31 July 2023 42.2CQ.871 816,620 2.920,681 45,938,172 Depretlatlon AI I Au8USt 2022 Provided in the year Fixed assets written off 11.528.831 864.357 117.8501 2,602.386 14,131,217 186.774 1.051.131 1225.3011 1243.1511 At 31 July 2023 12,375,338 2.563.859 14.939.197 Net book amount #t 31 July 2023 29.825.533 816,620 356,822 30.998,975 Net book arnount at 31 July 2022 30.438,S72 155,1ts) 356,049 30.949,721 The freehold l?nd and buiidinos are insured bythe 5th001 tt) thÈTrAlue of £82.2M. FIXED Ass INVESTMENTS The Group 2023 Thecompany 2023 2022 2022 Market value a5 at l Augusi 2022 Additlons Transfers to current a$5el investments Intrtasel Idecreasel In value of Investments 2.168.863 250.CQO 1.407,905 750.0 2.168.864 250,000 1.407,906 750,000 143.5991 10.958 143.5991 10,958 Market value a5 ai 31 July 2023 1375.264 2.168.863 2.375,265 2,168.864 As represenied bv.. Listed investments IUKI Unkted Investments 1375.264 2.168,863 2.375,264 2.168.863 13?5.264 2.168.863 2,37S.265 2.168.864 ComparryNLmberL*)IIC691 chaer3o7335
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31July 2023 FIXED ASSET INVESTMEvf5 fcontinuedj At 31 July 2023 the company held 100% of the allotted share opitsl of St Swithun's Sthool Letting Company Umited incorporated in Engtand and Wales Icornpany number 0193147: re8iSteied office Alfesford Road. WinehesterS021 IHAI. whith involved in the lettir4of facilrtl* The assets and liabilitie5 of St 5thun.55th9Ol Letting Company Lirnited are: 2023 2022 Tangible fixed assets Current assets 158,551 113.217 158.551 1127.516) 113.217 182.182) Creditors: amounts fall1r due wlthin one year 31,035 31,035 Represented by: Share capital Profit and loss account Capital redemptlon reserve 31.(B3 3L033 3L035 31,035 Detzlls of St Swithun's School Letti Cornpany wofft and10s5 account are 8fven In note 2. 41 Compaw NumberCb)IIC692 0rity Number307335
St Swithun's School (Winchester) (a company limited by guarantee} NOTES TOTHE FINANCIAL STATEMENTS for the yeai ended 31 July 2023 DEBTORS The Group 2023 The Company 2023 2022 2022 Amounts falling due within oneyÈar'. Fee debtors Trade debtors Pfepayments and acuued income Amounts owed by 8roup undertaking 39.087 73,932 498.307 7.953 6,925 474.708 39.087 1445 481999 50.571 7,953 3.976 443.367 16.383 611.326 489,586 575,102 471,679 CREDITOAS: AMOUNTS FALUNG DUE WITHIN ONE YEAf( TheGroup 2023 The Companv 2023 2022 2022 84nk loans S131 security ind other taxes HP credilor oiher eredStor5 and attTua Pupll fee deposits Deferred Income (fees In advanee and tompositionl Arnounts due to group LtndertakinBs 332.833 219.587 7.650 l.C68,963 601,320 1.588.933 332.833 219.696 7,650 L1,512 592,080 915.428 332,833 209.036 7.650 I,2.569 601,320 1,588,933 332,833 208,536 7,650 931.607 592,080 915,428 3,819,286 3,069,199 3,742,341 2,988,134 As required by FRS102 all pupil deposits are shown a5 due within one year. io CREDITORS: AMOUNTS FALLING WE AFTER MORE THAN ONE YEAR lal Analys of credltor The Group 2023 The Company 2023 2022 2022 8ank loans Deferred intome (composition feesl HP creditt)r 3.6B6.695 280.227 14.075 3.958.0% 218,921 21.725 3,685.695 280.227 14.075 3,958.096 218,921 2L725 3.980.997 4.198.742 3.980,997 4,198,742 The bank loans ale secured on the freehold property of the sthoLg. 42 Cornpany wrber01oG92 Charfty Nurnb8r 307335
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2023 ¢JIEDITORS.' AMOUNTS FALLIN6 DUE ER MORE T ONE YEAR fcontrnued) {bl Bank toan5 The GTOUP 2023 The Company 2023 2022 2022 Oue within one year Amounts falling due within l year-note9 332,833 332.833 331833 332,833 Oue bets¥een 2 and 5 years Due after more than 5 yea 1331.333 2.355.362 1.33L333 2.626.763 1,331.333 2.355.362 1,331.333 1626,763 Amounts falling due after I ar- notè 9 3.686.695 3.958.096 3.686,69S 3.958,096 4.019.528 4.290.929 4,019.528 4,290.929 In September 2019 the school consolidated a term loan and FKoperty mortgage Into a slrele term loan of £4,992,49S. wlth repayment ternis of 119% over Base Rate over 15 year> The Group 2023 The Company 2023 2022 2022 Icl Compositlon fees payable Due within one year IAmounts falling dué vrrithin l yearl 132.247 93.65S 132.247 93.655 Due between 2 and 5 years Oue after more than S years 280,227 218.921 280.227 218,921 Amounts fallin8 due after l year-note 9 280.227 218.921 280.227 218,921 411474 312,576 412.474 31276 43 CunpnyNvmberOOIIC692 tharityNumber 30n35
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TOTHE FINANCIAL STATEMENTS for the year ended 31 July 2023 li RESTRIE0 FUNOS ThE GROUP AND THE COMPANY Appea15 General & legades Building Fund Waller & Yonge Fund Total At I Au8115t 2022 Income enditure Galn I Ilossl on revaluation Redassificaiion- Building Appeal Transfer to Unrestricted fund L738,852 195.267 1201,8771 158.2901 53.378 2,192,315 1,701 280.534 17501 1236,7101 IlJ431 159,6331 56.162 134,0831 27,404 1172.4451 172,445 127.4041 127.4041 At 31 july 2023 1.673,952 249,719 172.445 52.986 2,149,102 The Appeals fund hold$ specific fund5 held to providè bursaries In accordan with donor wi5he5. The total Includes the Bramston fund which holds investment% the interest from whrth is used to lund hardship bur5arie5, and Ihe 8ramston Bursary foundaon IBBFI the sole foojs of whlch is to provide fvll buw5afies for 8id5 in tare. or who may be on the edge of care. LegaciE5 are funds donated with specific conditions attathed. The buSldin8 fund initially held the donations from a widower of a St Swithun's Old Girt to fund an academic enrichment bullding on the school site. The buildingwas opened for pupil use in surnmer 2022, with the final funding received from the donor in April 2023. The buildSn8 fund as at 31 July 2023 holds the donations madefor fvture capital project51 previously held wllh Appealsl. The General Purpose fund provides annual speech day prizes and Contai donations earmarked by donors, voluntary charity collections by the staff and pupils and the PTA lunds. The Charlotte M Yongp prize for £IC(l 15 awarded forthree yèais io assist former pup1Tr5 In the purchase of baok5. The Waller Fund provides prizes annually of £100 and £50 respectively to the Head and Dèputy Head girls for the year. It also funds the Mgwbr3y prize for £IC(I which 15 awarded for three years to assisi forrner pupils in thè purthase of books. This scholarship 15 awarded foi excellent acadernic achievements whi15t at the school. The level of ihese awards was revlewed In September 2018. Cony8nYNumberOOII? Charlrv Mum*r307335
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMEKrs forthe year ended 31July 2023 li RE5TRicfED FUNDS (continued) ENDOWMENT FUND THE GROUP AND THE COMPANY LEVY Scholatshlp Total At l August 2022 Income Expenditure Loss on revaluatiort of invertment 66,219 L169 12.0001 14.2671 66,219 1,169 I2,0) 14.2671 At 31 July2023 6L121 6L121 The Dr Jénny tivy Stholarship Fund was created aftd generous supported by the parents of a former pupil to reco8ni5e Dr Jenny contribution to St Svrithun's Sthool. A Or Jenny 5tholarship is awarded to a rnember of the L6 at the start of the academic year to a glrl who shows academic pmmls4 intellettual curiosity. a unique independence of and who participates in ihè wider life of the school community. Thè award will be made to a 8irl who was in US in the previous academlc year. The hèadmisiress is responsiblÈ for awardingthis stholarship. The level of thls awar(I Is currently £ItOJ. This figu will be rwewed èvery S years (next Sept 20241 and increased by an agreed amount in line with fee levers. In any year if there is no suitsble scholarship candtdate, or the fund's income exteeds èxpenditure. then the amount isto be reinvested into the endowed fvnd. The lunds for thls scholarship are endowed in a separate fvnd clearty defined. Funds are cufntlY invested In M & G Charlbond. Ongolng Investment decisions will made in accordan th the sthool's investment poliry. DESIGNATED FUNDS THE GROUPAND THE COMPANY Pension TOTAL Scheme DESIGNATED Pro¥ision FUNDS TOTAL UNRESTRicfED General Fund5 FUNDS At I AuBUSt 2022 Surplu5 forthe year Transfer to designated fvnds 422.(D) 421(W 30.279,125 15.707 30,70L125 15.707 At 31 July 2023 422,{) 422,LDJ 30.294.832 30,716.832 The school has established a degnated fvnd to meet future contributions to the support stsff final salary pension scheme as required. Details of the stheme are ¢ontabned in note 18. C•mpan¥NumbprfpXIC*92 Charity Numkn 307335
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2023 ANALYSS OF NET ASSEfs BEfwEEN FUNDS THE GAOUP Fund balance5 at 31 July 2023 Unrestritted Endowment Re5tritted Total Tanglble fixed assets Investments Current assets Current liabilities Long term liabilities 31,697,480 1.020.301 5.VJ9.334 13.819,286} 13.980.997) 31.697.480 2.375,264 6.654,594 13.819.286) 13.980.997) 47.580 13.541 1,307,383 841.719 30.716,832 61,121 2.149.102 32.927.055 ThE COMPANY Fund balances at 31 July 2023 Unrestricted Endowment Restrlded Total TanBlble nxed 355ets Investments Current assets Current liabilitie5 Long term liabilities 30.998.975 1,020,302 5.691.355 13.742.3411 13.980.997) 30.998,975 47,580 1,307.383 2,375,26S .$41 84L719 6,546,615 13,742,341) 13,980,997) 29,987.294 61.121 2.149.102 31197,517 14 lal RECONCILIAnON OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITES 2023 2022 Net incoming resourtes Ipage 291 Elimination of non-operating ¢ash flows - (Galnsl I losses on InVeMents - Invesiment income - Finance costs less 8Tant incorne Depreciation charge Iln¢rea5el I decrease in debtors Increase in creditors excluding bank h)ans Defined benefit pension stheme adjustrnents 132.6041 461,215 43.599 1150,5431 223,829 1.051,131 1121,7401 781,919 110,9581 146.6301 121.584 1.063.398 9,562 17,4601 Net cash infflow from operations 1,795,591 1,59).711 CDmpanyllunbbe¥ 110692 Charlty Nymber30Y3J5
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2023 14 Ibl ANALYSIS OF CASH AND CASH EQUIVALEpirs 2023 2022 tssh at bank- unrestricted Dep05its- unrestricted Cash at bank- restriaed Deposits. restrkted 4555.884 648.407 770,730 68.247 4.424.294 656,960 n9,223 I,44¥ 6.043,268 S,920.925 Is CApifAL COMMITMENTS At 31 July 2023 the Group had capital commiilllertts of £nil12022- £54.7151. AIS outstanding sums irKltsdin8 retentions on tap¢tal corttracts have been accyued In liabNttles as at31July 2023. 16 CONTINGENT LIAèILrnES There were no corttin8ent liabililies at 31Juty 2023 or at 31jU 2022. 17 .TAXATION St. thun,$ Sd)ool Iwinthesterl is a reglstered tharity Inumber 3073351 and Is potentially exempt from taxation of Income and gains Iling wiihin seth$ 466 to 493of Ihe CoipornbonTaxAct 20103nd section $21 to $36of the Income Tax Art 2007. 47 com1V MuMbef¢>X1¢692 atyN¥ter3O7335
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TOTHE FINANCIALSTATEMENTS for the year ended 31 July 2023 18 PENSION SCHEMES TEACHING STAFF-TeKheT5' nSion xhèm? The school partlcipates In the Tea¢her< Pension Stheme 1.the TPS"I for its teathing staff. The pension tharge for the vear includes ¢ontTibutlons payable to the TPS of £1.048.52912022 £1.tIM.5381 and atthe ytarond £127.94D12022.. £nill was accrued in ie5pert of contributHJns to this xheme. Thts sum was paid in full on 14 Au8USI 2023. TheTPS an unfunded multi-employerdefined benefits pensionscheme8C+verned byThe Teathe15' PensJofis Regulatlons 2010 las amended) arbd The Teachers. Pension Scheme Re8ulation$ 2014 la5 amended). Members conirfbute on a 'pay as you go" basls wilh contributions from members and the employer beire uedrted to the Exchequer. Retirernent and other penslon benefiis are partl by public fvnds pro¥ed by Pailrdmeni. The employer contrSbution rate Is set by the Secretary of State followlng stherne valuations undertaken by the Govèrnment A¢tuarfs Departmeni. The moll recent attuarial valuation of the TPS was prepared a5 at 31 Marth 2020 and the Valuation Report. whTrch was published in October 2023. Following the Mcaoud judgemenL the rtmedy propa5ed that when benefit5 become payable. eligible rnernber5 can sèlect to receive them frorn ther the reforrned or legacy s¢hemes for the period l April 2015 to 31 March 2022. The actuaries have assumed that rnernber5 arè likety tg ch005e the opiion that provides them with the greater benefits, and in pParing the Z020 valuation have valved the'RreatÈr valut, benefrts for grtsups of relevant members. Thevaluatn?n confirrned thatthe employercontribution rateforthe TPS would increase from 23.6%to 28.6%1rom l Aprll 2024. Employers are also required to pay a scheme administration levy of 0.O8%ging a total employertontribution rate of 28.68 NON.TEACHING sfAFF- DEflned contribution stherne The school opeiates a defined contrlbuts"oh. stakehclder compatthle. qroup personal penslon for all non-teaching employees and teachers who have opted•OUt of Teathers, Pèn5ion5. The employer pay5 an a8frrelated contrsbution of 7- 14% fgr sUPPOrt staff and 18.2% for tea¢her5. provided that the employee pays a minimum contribvtion of3-5 Thè pen5ign thar8e for the year was £481,90712022'. £462.256}. The employer operates a deffined benefrt stheme In the UL Th5 is a separate trustee administered fund holdin8 the pension scheme assets to meetthe Ion8 term penon Irabilitle5. Afull actuarialvaluation was carried out as at 01)anuary 2021 and updated to 31 July 3022 by a qualrfied actuary. independent of the scherne'5 5ponswin8 employer. The major a55umpilons used by the artuary are shown below. Thi% more receni ffinallsed actuarlal Yaluaiion. whlch was prodUd as at 01 January 2021, Showed that the scheme'5 assets equalled the scheme's tethnical provision5 resulting in a tundtng level of loo%. In addition and In accordancewith thls actuarlal valuation, the employer has agreèd with the tru5tee5 that rl will meet expenses of the scheme and levSes io the Pension Protection Fund. As there was no shortl1 at th? valualion date. no contribuiions are payable in respect OF the lechnical provisions. SlnceAugu512016 a designated lund has been establshed bythe school to nwet future tontrlbutlons as requlred. As at 31 2023 the balaThce stands at £422.t)). The FR5102 calculation by the actuary ¢èlculate5 a scheme surplus of £92K 12022.. £655KI. However. In actordante with par4raph 28.22 of FR5102 the net pension asset has been restrirted to the value of thè scherne's fvtvre pension cort le luture employee COntriblOn5. The net pension a55et therefore become5 £nil. For 2023 and 2022 there are no artuarial m0vents ihai requlre reco8nltlon In the 50F The pension tharBe for the yearwa5 £18.648 fof admin thar8es and trurtee and Independent advfjce12022.' £45.2801. Cempw NvmtseOOIL0692 arity NyrDt*t307335
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS forthe year ended 31 July 2023 PENSJON SCHEMES IcontJ"nued} PEN510N SCHEME DISCLOSURES lal Present values oldefined benefft obliption. faiTvalue of assets and defined benefit asset Iliabilityl The assets. funded obligatton5 and notionalsurplus in the stheme as at31 July 2023. 31 July 2022 and 31July 2021 were asfollows: 2023 Market Value Propwtion 2023 2022 Market Value Proportfon 2022 2021 Market Value 2021 Proportlon Equities Index linked Kllts Cash Insured Pe00n5 Buyout aware funds Other 145 319 581 34 L116 2.710 13% Ix 25% 61% 1112 2?53 Fairrdlue of plan assets Value of fvnded oblr8atlons 1276 3.278 2.623 4A41 13,77SI Surplus ' Stheme surplus restrirtion 92 1921 655 16551 666 16661 Suiplus reeoenised balan sheet None of the falr VUeS of the assets shtr•ffl alfft indude any dir*rt investments in the employerfs own )Inancial instruments or any propery o¢¢upied by. orother a$5ets used by the employer. in Ibl Reconoltètlon of opening and dosire balances ofthè defined benefit obli8ation Year to Year to 31 Jufy 2023 31 July 2022 Opening defined benefit oblleation Current serwo cosl Interest cosr Actuariallosses Igalnsl Past 5eTvi¢e c05t Settlements or CUlIMents Benefits paid 1623 3,775 59 IL0611 {3741 {Isoi aosinB dèffined benefit obliBaiio 2,623 The En81ish High Court ruling in Uoyds Banking Group Pension Trustees Umired vs Uoyds Bank plc and others was published on 26 October 2018. and held that UK pen&on sthemes with Guaranteed Minimum Pen51ons IGMPS) accrued from 17 May 1990 must equalise for the different effects of these GMPS between mert and women. The case also gave some guidance on related mattets. indudin8 the method5 forequali5alioD. The scheme was nrtcontrarted out and so is unafferted tythis le81110n. 49 Cw•any Nurnbtrtt1110692 tharityNumber Jon
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS fortheyear ended 31 July 2023 18 PENSION SCHEMES lam¢inued) Icl Reconclliation of openink and tlosln8 balwjces of ihe fair value of pbn wts Yearto Year to 31 July 2023 31 July 2022 Opening falr value ol phn asset5 Interest intome Acluarizl gains I IlossÈsl Contributions Benefjts paid 3.278 112 19601 4,441 70 IL0831 (Is41 11501 a05ing fair value tsf plan assets 276 3,278 The adual return on the plan a55ets over the year 10 31 Juty 2023 wa$ 4848.(iKI12022.'1£1,013.cI)I 12021- IE44.CIIOII. (dl Defined benefit costs recognised in Profit and loss Year io Year to 31 Juty 2023 31 Juty 2022 E'CQO Cufreni service cost Net Interèst £05t Expenses L05sesl Igainsl on $2tt1ements or curtailments Losses l (gains) due to benefit changes Defined benefit costs reco8nlsed in Profit and loss attou (el Anatyy5 of the actuarial gainsl1105sesl reco8ntsed In oa A¢iuaiial gains pr losses are reco8nised lrnmedlatety voa Other Comprehensive Income (OCII. The amount5 for the year are= Year to 31 July 2023 Year to 31 July 2022 £'och) Rèturn on plan a55ets lexdudln8 amounts Indu41ed in nèt interest costl- gain / Ilossl Experience105ses arisin8 on plan liabifiiies Effect of ¢hange5 in the demographic and finandal assumptions underlylng the present value of liabillts Effert of chanBe5 In the amount of sulUS thai 15 not recoverable lexcludlng amounts induded in net interest) 960 11.0831 144 318 743 15861 22 Defined benefrt cost5 reco8ntsed in profrt and loss x¢wnt Conwwny f&JmterCQII(92 (tsrlyNLwbtr3073J5
St Swithun's School {Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31July 2023 PENSION SCHEMES (continued) PENSION SCHEME ASSUMPmON5 The Ilfe expectancy is based upon mortality asgjmptions. Assumlng retiremeni at age 65. the Ilfe expectsncy In years Is as follows.. 31 Juty 2023 31 Juty 2022 31Jufy 2021 For a mal• aged 6S now At 65 for z male member a8ed 4S now For a lemale aged 65 now Al 65 for a female member 4ed 4S now 25.9 27A 27.8 25.5 27.4 27.4 27.5 27.5 31 Juty 2023 31 JU 2022 31July 2021 5.3% 3.5% 1.6% 3.5% 3.5% 3.2% 2.9% 2.2% 12% Discount rate Inflation assumptlon IRPII Inflation assumption ICPII lowance for revaluation of deferred pon5 of CPI or 5% p.a. If less Allowan for pen%on In payment intreases of RPI or 5% p.a. rfless 3.S% 3.5% 3.2% No allowance has been madè for the commutation of pen*ons fortash at retirernt. The best ethmate of contrlbullons to be pakl by ihe employer to thexheme frythe year ¢ommenong 01 August 2022 Is En. RELATEO PARTYThANSAcnoNS In 2023 the School tharged £16J0512022: £11.0291 to Sts Wholowned subs(diary St. Swlthvn'ssdl Lettln8 Company Limited for use of the school's faulitie In 2023 St. Swithuft's Sthool Letttng Company LTrite made a Eift aid pawmnt of £131.587 to the sthool as Its whollv owned parent company. being the total net profit for the year to 31 July 2022. An equNalent payment w611 be made for the 2023 profit for the year of £225,766. 20 OPERATING LEASE COMMITMENT The followlnB operating le¥e payments are cornmitted to be paid within one year. rnen era 2023 2022 Expiring within one year= 76.982 73,8(1) 51 Cfv¥tyNum90731$
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 Juiy 2023 21 SUBSIDIARY CHARITY On 5 May 2(M)9 the school reglstered a subsidiary tharity - St. Swiihun's Sthool 8ursary Fvnd. St. Swlthun's School Bursary Fund Is held on trust by the Trustee to apply income and capital for the provision of bur5arie5 at the sch90l. St. Swithun'5 School Bursary Fund is unincorporated. bas no share capitsl. had not ComMend its activiti?5 and has no nèt asse15 as at 31 July 202312022= £nill. Sr Swithun'5 5th001 Iwinthestefl 15 the SDle trustee and so St. Swlthun's School Bursary Fund 15 induded In the accounts on ihat basi 52 Company NwnthrQOJIC692 harItyNuml )07135
St Swithun's School (Winchester) {a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2023 22 CONSOLIDATED STATEMENT OF FINANCIALAcnvtlTES- COMPARATIVE FIGURES BY FUND TYPE Stho¢l Endowment Fund 2022 Restrlcted funds 2022 Total 2022 Totsl 2021 Note 2022 Income al endowmentsfrom Donations Charttsble acttyitles School fees Antillarytrdding income Trading turnover Investment income Other income 262,535 261535 1.571,584 15.$65.560 630.010 15,565.560 13,90L455 630.010 675.869 285.848 3.193 285,848 46.630 150,207 43.816 361.499 L128 42,309 Total Incomlng Resources 16.484,611 L128 304.844 16,y.583 16.704A30 Expendlture on Charitable athwties Raising funds Other- Finance costs 4 15,821.938 175.519 121.584 219.285 16.043.223 15.LThXI,345 175,519 83,351 121,584 183,069 Totsl Resour5 Expended 16.119,041 219.285 16,340.326 15.266,765 Gains I Ilossesl on Investments 13.6141 14572 10.958 165,729 NET INCOME FOR ThE YEAR Transfer of fvnds Pension scheme actuarial losses 365.570 {44861 I(wJ.l 461.215 1.603.394 180,0851 NEf MOVEMENT IN FUNDS 445.655 14.4861 20.046 461,215 1,603,394 Balance broughtfoThnrd 30,25S,470 70.705 2.171269 32.498,444 3095,050 Balance carried forward 30.701.125 66.219 11923lS 32,959,659 31498.444 All of the sthool's actlvltles relatèto continulng operatio. 53 Comp*ty14umberTr)11O692 Im30?33$
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMEfr¥rs for the year ended 31 July 2023 22 FUNDS- COMPARATIVE FIGURES lal REsfRICTED FUNDS~ COMPARATIVE FIGURES ThE GROUPANDTHECOMPANY General Purpose 8ullrJin8 Fund Waller & Yonge Fund Appeal Total At l August 2021 Incorne Expenditure Gaon I Ilossl on revaluation Transfer to unrestricted 1.732.086 178.966 1187,2531 15.053 386,410 44,577 130.9021 53,773 2,172,269 1,216 304,844 11,1301 1219,28SI 14811 14,572 180,OB51 80,085 180.0851 At 31 Juty 2022 1.738,8S2 4(.085 53.378 2.192.315 Ibl ENDOWMENT FUND- COMPAIIATIVE FIGURES TrIE GROUP AND THE COMPANY Li Scholarship Total At l August 2021 Income Expenditure Loss on revaluation of investment 70.705 1,128 12.CQOI 13.6141 70.705 1,128 12,0001 13.6141 At 31 Jyly 2022 66,219 66.219 1¢) DESIGNATED FUNDS- COMPARATIVE FIGURES Pension TOTAL Scheme DESIGNATED Provis FUNDS TOTAL UNRESTRicfED FUNDS General Funds At l August 2021 Surplus for the year Transfer to designated fvnd5 42jcJ) 422.CAJO 29.833.470 445,655 30,255,470 445.655 At 31 Juty 2022 422,01 422.0 30,279.125 30,701.125 Comp•ny NumbeiTr)110691 Chaity Nvrntet307335
St Swithun's School (Winchester) (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS forthe year ended 31July 2023 23 ANALTrS1S OF NET BETWEEN FUNDS-COMPARATIVE FIGURES THE GROUP Fund balances at 31 Juty 2022 Unrestricted Endowment Restrt¢ted Totsl ranglble ftxed assets Investments Current assets Current liabilities Long tem? Ilabili1Ses 3L648.226 750,¢ 5,570,840 13.069.199) 14.198.742) 31.648,226 2.168.863 6.410,511 13.069,1991 14,198.7421 SL847 14372 1.367,016 82S.299 30,701.12S 66.219 2.192.315 31959,659 THE COMPANY Fund balances at 31 July 2022 Unrestritted Endowment Aesthrted Total Tangible fixed assets Investments Current assets Current liabilities Long rerm liabilities 30.949.721 750.WI 5.458.741 11988.1341 14.198.742) 30.949,721 2,168,864 6.298,412 12.988,1341 14,198,7421 51A47 14.372 1367.016 825.299 29371.587 66,219 1192,315 32.230.121 55 C4mp•nyMumberC•JIL0692 Numb¢r307335