|
Page |
| Reference and administrative details ofthe charity, its Governors and advisers |
1 |
| Governors’ report |
2-11 |
| Independent auditor’s report on the financial statements |
12- 15 |
| Statement offinancial activities |
16 |
| Balance sheet |
17 |
| Statement of cash flows |
18 |
| Notes to the financial statements |
19-33 |
| Governors |
C B R Howrnan, Chair |
|
J N Naismith (retired 24 March 2023) |
|
R P Hammond |
|
S Watson |
|
J C McGuiness |
|
R E Rftchie |
|
C C Stevens |
|
J Fox |
|
E C G Fisher |
|
J Price |
|
A J Williams |
|
C J Penn (appointed 8 December 2022) |
|
D P W Umbers (appointed 29 June 2023) |
| Company registered |
|
| number |
00558147 |
| Charity registered |
|
| number |
00307425 |
| Registered office |
High Street |
|
Twyford |
|
Winchester |
|
Hampshire |
|
5020 1NW |
| Bursar |
K Pillar |
| Headmaster |
A Harvey |
| Independent auditor |
Crowe U.K. LLP |
|
Aquis House |
|
49-51 Blagrave Street |
|
Reading |
|
Berkshire |
|
Rol 1PL |
| Bankers |
Barclays Bank PLC |
|
50 Jewry Street |
|
Winchester |
|
Hampshire |
|
5023 8RG |
| Solicitors |
Wilsons |
|
Alexandra House |
|
St. Johns Street |
|
Salisbury |
|
SP1 2S8 |
TWYFORD SCHOOL (A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TWYFORD SCHOOL (CONTINUED)
audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non compliance and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
Alastair Lyon (Senior statutory auditor)
for and on behalf of Crowe U.K. LLP
Statutory Auditor
Aquis House
49-51 Blagrave Street
Reading
Berkshire
RG11PL
Date: 4 December 2023
Page 15
|
|
Unrestricted |
Restricted |
Total |
Total |
|
|
funds |
funds |
funds |
funds |
|
|
2023 |
2023 |
2023 |
2022 |
|
Note |
£ |
£ |
£ |
£ |
| Income from: |
|
|
|
|
|
| Donations, legacies end grants |
7 |
46,755 |
7,591 |
54,346 |
10,292 |
| Investments |
|
65,139 |
- |
66,139 |
4,006 |
| Charitableactivities |
|
8,240,261 |
- |
8,240,261 |
7,109,676 |
| Other income |
|
146,951 |
- |
146,951 |
42,327 |
| Total income |
|
8,499,106 |
7,591 |
8.506,697 |
7,166,301 |
| Expenditure on: |
|
|
|
|
|
| Charitable activities |
6 |
7,616,303 |
- |
7,616,303 |
6,871,104 |
| Total expenditure |
|
7,616,303 |
- |
7,616,303 |
6,871,104 |
| Net movement in funds |
|
882,803 |
7,591 |
890,394 |
295,197 |
| Reconciliation offunds: |
|
|
|
|
|
| Total funds brought forward |
|
12,915,807 |
- |
12,915,807 |
12,620,610 |
| Net movement in funds |
|
882,803 |
7,591 |
890,394 |
295,197 |
| Total funds carried forward |
|
13,798,610 |
7,591 |
13,806,201 |
12,915,807 |
|
BALANCE SHEET |
BALANCE SHEET |
|
|
|
|
AS AT 31 |
AUGUST 2023 |
|
|
|
|
|
|
2023 |
|
2022 |
|
Note |
|
£ |
|
£ |
| Fixed assets |
|
|
|
|
|
| Tangthle assets |
12 |
|
11,126,142 |
|
10,862,647 |
|
|
|
11,126,142 |
|
10,862,647 |
| Current assets |
|
|
|
|
|
| Debtors |
13 |
292,217 |
|
254658 |
|
| Short term bank depostts |
|
2,186,631 |
|
1,511749 |
|
| Cash at bank and in hand |
|
2,299,332 |
|
Z384393 |
|
|
|
4,778,180 |
|
4,150800 |
|
| Creditors amounts fallirg due within one |
|
|
|
|
|
| year |
14 |
(2,098,121) |
|
(2,097640) |
|
| Net current assets |
|
|
2,680,059 |
|
Z053 160 |
| Total assets less current liabilities |
|
|
13,806,201 |
|
12,915.607 |
| Total net assets |
|
|
13,806,201 |
|
1a915,807 |
| Charity funds |
|
|
|
|
|
| Restricted funds |
17 |
|
7,591 |
|
- |
| unrestr[cted funds |
17 |
|
13,798,610 |
|
12,915,807 |
| Total funds |
|
|
13,806,201 |
|
12,915,807 |
|
|
2023 |
2022 |
|
Note |
£ |
£ |
| Cash flows from operating activities |
|
|
|
| Net cash provided by operating activities |
21 |
1237,049 |
1,010,374 |
| Cash flows from investing activities |
|
|
|
| Interest received |
|
65,139 |
4,006 |
| Purchase oftangible fixed assets |
|
(712,367) |
(1, 18Z412) |
| Net cash used in investing activities |
|
(647,228) |
(1,178,406) |
| Change in cash and cash equivalents in the year |
|
589,821 |
(168,032) |
| Cash and cash equivalents at the begiining ofthe year |
|
3896,142 |
4,064,174 |
| Cash and cash equivalents at the end ofthe year |
22 |
4,485,963 |
3,896,142 |
| The notes on pages 19 to 33 form part ofthese financial statements |
|
|
|
| Charitable activities |
|
|
|
2023 |
2022 |
|
£ |
£ |
| School fees receivable |
8,299,591 |
4070,359 |
| Additional school activity |
219,499 |
190,463 |
| Ancillary income |
22,767 |
21,300 |
| Less: Bursary allowances and discounts |
(301,596) |
(172,446) |
|
8,240,261 |
4109,676 |
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
| Bank |
interest |
receivable |
65,139 |
4.005 |
|
|
|
65,139 |
4.006 |
|
2023 |
2022 |
|
£ |
£ |
| Other income |
15,250 |
146 |
| Rental and hiring |
128,401 |
35,694 |
| Solar panels |
3,300 |
6,487 |
|
146,951 |
42.327 |
|
|
|
Unrestricted |
Restricted |
Total |
Total |
|
|
|
funds |
funds |
funds |
funds |
|
|
|
2023 |
2023 |
2023 |
2022 |
|
|
|
£ |
£ |
£ |
£ |
| Donations |
and |
gifts |
46,755 |
7,591 |
54,346 |
10,292 |
|
Unrestricted |
|
|
|
funds |
Total |
Total |
|
2023 |
2023 |
2022 |
|
£ |
£ |
£ |
| Teaching |
4380.040 |
4380040 |
3.997,162 |
| Welfare |
595.484 |
595,484 |
570,829 |
| Premises |
625,963 |
1625963 |
1,357,222 |
| Support costs |
913.992 |
913,992 |
874,450 |
| Share ofgovernance cost |
76,094 |
76094 |
61,993 |
| Fundraising cost |
24,730 |
24730 |
9,448 |
|
7,616,303 |
7,616,303 |
6,871,104 |
|
Staff costs |
Depreciation |
Other costs |
Total |
Total |
|
2023 |
2023 |
2023 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
£ |
| Teaching |
3,603,406 |
70,007 |
706.627 |
4,380,040 |
3,997,162 |
| Welfare |
127,713 |
- |
467,771 |
595,484 |
570,829 |
| Premises |
251,792 |
215,574 |
1,158,597 |
1,625,963 |
1,357,222 |
| Support costs |
636,794 |
- |
277,198 |
913,992 |
874,450 |
| Share of governance cost |
- |
- |
76,094 |
76,094 |
61,993 |
| Fundraising cost |
- |
- |
24.730 |
24,730 |
9,448 |
|
4,619,705 |
285.551 |
2,711,017 |
7,616,303 |
6,871,104 |
| Governance costs |
|
|
|
2023 |
2022 |
|
£ |
£ |
| Auditfees ofcharitable company |
21,439 |
16,800 |
| Legal and professional |
10,622 |
12753 |
| Consultancy |
44,033 |
32.440 |
|
76,094 |
61,993 |
|
2023 |
2022 |
|
£ |
£ |
| Wages and salaries |
3,435,594 |
3,171,743 |
| Social security costs |
326,784 |
306,752 |
| Contribution to defined contribution pension schemes |
857,327 |
857,705 |
|
4,619,705 |
4,336.200 |
|
2023 |
2022 |
|
No. |
No. |
| Teaching and support |
84 |
78 |
| Welfare |
9 |
8 |
| Premises |
8 |
7 |
| Administration |
17 |
16 |
|
118 |
109 |
|
2023 |
2022 |
|
No. |
No. |
| Teaching and support |
65 |
65 |
| Welfare |
7 |
6 |
| Premises |
7 |
7 |
| Administration |
13 |
13 |
|
92 |
91 |
|
|
|
|
2023 |
2022 |
|
|
|
|
No. |
No. |
| In |
the |
band |
£60,001 -£70,000 |
I |
|
| In |
the |
band |
£70,001 -£80,000 |
I |
- |
| In |
the |
band |
£100,001 -p110,000 |
I |
|
|
|
Assets |
|
|
|
|
Freehold |
under |
|
Fixtures and |
|
|
property |
construction |
Equipment |
fittings |
Total |
|
£ |
£ |
£ |
£ |
£ |
| Cost or valuation |
|
|
|
|
|
| At 1 September 2022 |
12,248,985 |
240009 |
633,657 |
316,706 |
13,439,357 |
| Additions |
159,605 |
551,304 |
- |
1,458 |
712,367 |
| Disposals |
(206,353) |
- |
(80,692) |
(5,607) |
(292,652) |
| Transfers between classes |
240,009 |
(240,009) |
- |
- |
- |
| At 31 August 2023 |
12,442,246 |
551,304 |
552,965 |
312,557 |
13,659,072 |
| Depreciation |
|
|
|
|
|
| At 1 September2022 |
1,803,622 |
- |
551,247 |
221,841 |
2,576,710 |
| Charge forthe year |
215,574 |
- |
39,084 |
30,923 |
285,681 |
| On disposals |
(43,062) |
- |
(80,692) |
(5,607) |
(129,361) |
| At 31 August 2023 |
1,976,134 |
- |
509,639 |
247,157 |
2,732,930 |
| Net book ,dalue |
|
|
|
|
|
| At 31 August 2023 |
10,466,112 |
551,304 |
43,326 |
65,400 |
11,126,142 |
| At31 August 2022 |
10,445,363 |
240,009 |
8Z410 |
94,865 |
l0,86Z647 |
|
2023 |
2022 |
|
£ |
£ |
| Due within one year |
|
|
| Trade debtors |
6,574 |
1341 |
| Prepayments and accrued income |
285,643 |
253,317 |
|
292,217 |
254,658 |
|
2023 |
2022 |
|
£ |
£ |
| Trade creditors |
327,575 |
197,994 |
| Other creditors |
416,400 |
402,200 |
| Accruals and deferred income |
1,354,146 |
1,497,446 |
|
2,098,121 |
Z097,640 |
|
2023 |
2022 |
|
£ |
£ |
| Financial assets |
|
|
| Debt instruments measured at aniortised cost |
4,485,963 |
3,960,219 |
|
2023 |
2022 |
|
£ |
£ |
| Financial liabilities |
|
|
| Measures at amortised cost |
- |
1,045,825 |
|
Balance at I |
|
|
Balance at |
|
September |
|
|
31 August |
|
2022 |
Income |
Expenditure |
2023 |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General Fund |
12915807 |
8499106 |
(7,616303) |
13,798,610 |
| Restricted funds |
|
|
|
|
| The Wickhani Foundation |
. |
7,591 |
. |
7,591 |
| Total offunds |
12,915,807 |
8,506,697 |
(7,616,303) |
13,806,201 |
|
Balance at |
|
|
Balance at |
|
I Septembei |
|
|
31 August |
|
2021 |
Income |
Expenditure |
2022 |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General Fund |
12620,610 |
7,166,301 |
(6,871,704) |
12,915,807 |
| Summary offunds - currenty |
ar |
|
|
|
|
Balance at I |
|
|
Balance at |
|
September |
|
|
31 August |
|
2022 |
Income |
Expenditure |
2023 |
|
£ |
£ |
£ |
£ |
| General funds |
12,915,807 |
8,499,106 |
(7,616,303) |
13,798,610 |
| Restricted funds |
- |
7,591 |
- |
7.591 |
|
12,915807 |
8506,697 |
(7,616303) |
13,806,201 |
| Summa |
ry offunds - prioryea |
r |
|
|
|
|
|
|
|
Balance at |
|
|
Balance at |
|
|
I |
September |
|
|
31 August |
|
|
|
2021 |
Income |
Expenditure |
2022 |
|
|
|
£ |
£ |
£ |
£ |
| General |
funds |
|
12,620,610 |
7,166,301 |
(6,871,104) |
12,915,807 |
Analysis of net assets between funds
- cur |
rentyear |
|
|
|
Unrestricted |
Restricted |
Total |
|
funds |
funds |
funds |
|
2023 |
2023 |
2023 |
|
£ |
£ |
£ |
| Tangible fixed assets |
11,126,142 |
- |
11,126,142 |
| Current assets |
4,770,589 |
7,591 |
4,778,180 |
| Creditors due within one year |
(2.098.121) |
- |
(2,098,121) |
| Total |
13,798,610 |
7,591 |
13,806,201 |
|
Unrestricted |
Total |
|
funds |
funds |
|
2022 |
2022 |
|
£ |
£ |
| Tangible fixed assets |
10,862,647 |
10,862,647 |
| Currentassets |
4,150,800 |
4,150,800 |
| Creditors due within one year |
(Z097,640) |
(2,097,640) |
| Total |
1Z9l5,807 |
12$15,807 |
|
2023 |
2022 |
|
£ |
£ |
| Net income forthe year (as per Statement of Financial Activities) |
890,394 |
295,197 |
flUJLi1IIWIIL
UT. |
|
|
| Investment income recognised in statement of financial activities |
(65,139) |
(4,006) |
| (Profit)lloss on the disposal of fixed assets |
163,291 |
181,855 |
| Depreciation and impairment of tangible fixed assets |
285,581 |
257,507 |
| (lncrease)/decrease in debtors |
(37,559) |
(94,276) |
| lncrease/(decrease) in creditors |
481 |
374,097 |
| Net cash provided by operating activities |
1,237,049 |
1,010,374 |
| Analysis ofcash and cash equivalents |
|
|
|
2023 |
2022 |
|
£ |
£ |
| Cash in hand |
2,299,332 |
Z384,393 |
| Notice deposits (less than 3 months) |
2,186,631 |
1,511.749 |
| Total cash and cash equivalents |
4,485,983 |
3,896,142 |
|
|
At 1 |
|
|
|
|
September |
|
At 31 |
|
|
2022 |
Cash flows |
August 2023 |
|
|
|
£ |
£ |
|
|
£ |
|
|
| Cash |
at bank and in hand |
2,384,393 |
(85,061) |
2,299,332 |
| Liquid |
investmets |
1,511,749 |
674,882 |
2,186,631 |
|
|
3,896,142 |
589,821 |
4,485,963 |
|
2023 |
2022 |
|
£ |
£ |
| Land and Buildings |
|
|
| Not later than I year |
7,445 |
7,445 |
| Later than 1 year and not later than 5 years |
22,335 |
2Z335 |
| Later than 5 years |
26,058 |
33.503 |
|
55,838 |
63,283 |
| Other |
|
|
| Not later than 1 year |
50,573 |
59,473 |
| Later than 1 year and not later than 5 years |
38,219 |
116,531 |
| Laterthan5years |
- |
- |
|
88,792 |
176,004 |
| Total |
144,630 |
239,287 |