2022-08-31-accounts

Governors,TrusteesandAdvisors
AnnualReportofCouncil
StrategicReport
StatementofCouncilMembers’Responsibilities	18 -19
IndependentAuditor’sReport	20 -23
ConsolidatedStatementofFinancialActivities	24
ConsolidatedandCharityBalanceSheets	25
ConsolidatedCashFlowStatement	26
AccountingPolicies	27 -30
NotestotheFinancialStatements	32-52

SherborneSchoolfor		Girls	Girls
CONSOLIDATEDSTATEMENTOF		FINANCIALACTIVITIES
(incorporatingtheconsolidated		incomeandexpenditure			accountandtotal		recognised	gains
andlosses)
fortheyearended31August2022
			Unrestricted	Restricted		Endowed	Total	Total
			funds	funds		funds	2022	2021
	Notes		£		£	£	£	£
Incomefrom:
Charitableactivities
Schoolfeesreceivable		1	16,192,634		-	-	16,192,634	13,987,431
Ancillarytradingincome		2	1,669,042		-	-	1,669,042	1,057,598
Othertradingactivities
Non-Ancillarytradingincome		3	838,351		-	-	838,351	899,401
Investments
Investmentincomeandinterest		5	13,652	77,673		-	91,325	201,264
VoluntarySources
DonationsandLegacies		4	14,608	90,459			105,067	48,688
TotalIncome			18,728,287	168,132		-	18,896,419	16,194,382
ExpenditureonRaisingfunds
Fundraisingcosts			27,143		-	-	27,143	28,607
Non-Ancillarytrading			1,451,462		-	-	1,451,462	1,015,127
Financecosts			368,389		-	-	368,389	394,720
Investmentmanagementcosts			7,888	4,933		2,949	15,770	12,269
ShareofJointVentureloss			21,849		-	-	21,849	9,554
Charitableactivities
Educationandgrantmaking			15,978,909	144,390		-	16,123,299	14,713,922
TotalExpenditure		6	17,855,640	149,323		2,949	18,007,912	16,174,199
Netincome/(deficit)fromoperations			872,647	18,809		(2,949)	888,507	20,183
beforeinvestmentsgainsorlosses
Net(loss)/gainsoninvestments	11		(97,087)	(96,140)		(22,130)	(215,357)	491,817
Netincome/(expenditure)foryear			775,560	(77,331)		(25,079)	673,150	512,000
Transfers
Netmovementinfunds			775,560	(77,331)		(25,079)	673,150	512,000
Reconciliationoffunds:
Totalfundsbroughtforward			18,958,536	1,310,128		730,879	20,999,543	20,487,543
Totalfundscarriedforward		17	19,734,096	1,232,797		705,800	21,672,693	20,999,543
Allofthegroup’sactivitiesareclassed		as	continuing.
The notesonpages26to51formpart		of	thesefinancialstatements.
			23

SherborneSchoolforGirls	SherborneSchoolforGirls
CONSOLIDATEDANDCHARITY	BALANCESHEET
asat31August2022- CompanyNumber00306828
		Group		Charity
		2022	2021	2022	2021
	Notes	£	£	£	£
FIXEDASSETS
Intangibleassets		15,795	19,744	15,795	19,744
Tangibleassets	10	27,357,776	27,433,525	25,271,143	25,321,971
Investments	11	4,514,800	4,663,790	4,514,900	4,663,890
TOTALFIXEDASSETS		31,888,371	32,117,059	29,801,838	30,005,605
CURRENTASSETS
Stocks	12	117,860	140,322	76,544	89,791
Debtors	13	752,962	131,098	2,750,008	2,160,736
Shorttermcashdeposits
Cashatbankandinhand		3,060,643	2,784,632	2,917,832	2,657,784
TOTALCURRENTASSETS		3,931,465	3,056,052	5,744,384	4,908,311
CURRENTLIABILITIES:amounts payableinlessthanoneyear	14	(7,221,809)	(6,624,671)	(7,207,304)	(6,611,099)
NETCURRENT(LIABILITIES)		(3,290,344)	(3,568,619)	(1,462,920)	(1,702,788)
TOTALASSETSLESSCURRENT LIABILTIIES		28,598,027	28,548,440	28,338,918	28,302,817
CREDITORS:Amountspayablein morethanoneyear	15	(6,925,334)	(7,548,897)	(6,925,334)	(7,548,897)
NETASSETS		21,672,693	20,999,543	21,413,584	20,753,920
TOTALFUNDS
Restrictedfunds	17	1,232,797	1,310,128	1,173,685	1,285,864
Unrestrictedfunds	17	19,734,096	18,958,536	19,534,099	18,737,177
Endowedfunds		705,800	730,879	705,800	730,879
TOTALFUNDS	17	21,672,693	20,999,543	21,413,584	20,753,920
Theparentcharity'sincomewas£18,179,126		(2021:£15,654,858)andexpenditurewas£17,304,106(2021:
£15,652,779)whichwithunrealised	losseson	investmentsof£215,358resultsin		asurplusof£659,662(2021:
£493,894).
ApprovedbytheMembersoftheCounciland		authorisedforissueon25November2022.
LDHall
AHarris
Thenotesonpages26to51formpartofthesefinancialstatements.
		24

SherborneSchoolfor	SherborneSchoolfor	Girls
NOTES	TOTHEFINANCIALSTATEMENTS
forthe	yearended31August2022
6(a)	ANALYSISOFEXPENDITURE
							2022	2021
		Staffcosts		Other		Depreciation	Total	Total
			£	£		£	£	£
	Charitableexpenditure
	Teachingcosts	5,644,899		919,480		80,212	6,644,591	6,180,820
	Supportand	2,226,843		637,873		183,341	3,048,057	3,206,430
	governancecosts
	Establishmentcosts	630,837		1,395,902		882,328	2,909,067	2,781,019
	Commissiononfees		-	80,342		-	80,342	28,475
	Houseexpenses	564,435		2,742,613		-	3,307,048	2,449,488
	Grantsandawards		-	134,194		-	134,194	67,691
	Expenditureonraisingfunds
	Fundraisingcosts		-	27,143		-	27,143	28,607
	JointVenture		-	21,849		-	21,849	9,554
	Financingcosts		-	368,389		-	368,389	394,720
	Investment		-	15,770		-	15,770	12,269
	managementcosts
		9,067,014		6,343,555		1,145,881	16,556,450	15,159,073
	Subsidiaryexpenditure	687,604		666,337		97,521	1,451,462	1,015,126
	Group	9,754,618		7,009,892		1,243,402	18,007,912	16,174,199
6(b)	GOVERNANCECOSTSINCLUDEDINSUPPORT			COSTS
					Group		Charity
				2022		2021	2022	2021
					£	£	£	£
	Auditor’sremuneration			21,600		20,300	15,650	15,010
	Avornremuneration— additional			3,740		1,000	1,680	1,000
	Reimpursementofpersonal	expenses	to	746		95	746	95
				26,086		21,395	18,076	16,105
	Travelexpenseswerereclaimedby4		members(2021:		1)ofthegoverning		body.

7	STAFFCOSTS
		Group			Charity
		2022	2021		2022		2021
		£		£	£		£
	Wagesandsalaries	7,712,831	7,296,018		7,103,549	6,824,680
	Socialsecuritycosts	727,448	669,771		694,064	649,021
	Teachers’pensioncosts	836,589	929,985		836,589	929,985
	Otherpensioncosts	477,750	343,184		432,813	310,572
		9,754,618	9,238,958		9,067,015	8,714,258
	Theaverageweeklynumberofemployeesduringtheyearwas		asfollows:
		Group			Charity
		2022	2021		2022	2021
		No.	No.		No.	No.
	Teachingstaff	116	118		116	118
	Administrativeanddomesticstaffetc.	219	199		156	144
		335	317		272	262
	Thenumberofemployeeswhoseemolumentsasdefinedfor		taxation	purposesamounted		to	over
	£60,000intheyearwasasfollows:
					2022		2021
					No.		No.
	£60,001- £70,000				3		3
	£70,001 -£80,000				1		-
	£80,001- £90,000				1		1
	£90,001- £100,000				-		1
	£130,001- £140,000				-		-
	£140,001- £150,000				1
	Contributionsamountingto£107,571(2021:£106,709)weremadetotheTeachers’Superannuation
	Scheme,whichisa definedbenefitscheme,forfivehigherpaid		employees		(2021:fiveemployees).
	Contributionsamountingto£32,760(2021:£31,085)weremadetoanalternativedefined
	contributionschemeforonehigherpaidemployee(2021:one		employee).
	Noemolumentswerepaidtothetrusteesinrespectoftheirservicesto			theSchoolduringthe		year,	4
	trusteesreceivedrepaymentoftravelexpensesintheyear(2021:1).

10	TANGIBLEFIXED	ASSETS
					Furniture,
					machinery	Assetsinthe
	GROUP	Freehold		Swimming	and	courseof
		land	Buildings	pool	equipment	construction		Total
		£	£	£	£	£		£
	Cost:
	1September 2021	17,256	37,020,757	2,222,675	6,411,629	147,309		45,819,626
	Additions	-	459,756	-	435,598	287,309		1,182,663
	Disposal	-	-	-	(52,521)		-	(52,521)
	Transfersinto
	use
	31August2022	17,256	37,480,513	2,222,675	6,794,706	434,618		46,949,768
	Depreciation:
	1September	-	(12,236,282)	(632,560)	(5,517,259)		-	(18,386,101)
	2021
	Chargeforyear	-	(879,392)	(45,220)	(319,064)		-	(1,243,676)
	Disposal	-	-	-	37,785		-	37,785
	31August2022	-	(13,115,674)	(677,780)	(5,798,538)		-	(19,591,992)
	Netbookvalues:
	31August2022	17,256	24,364,839	1,544,895	996,168	434,618		27,357,776
	31August2021	17,256	24,784,475	1,590,115	894,370	147,309		27,433,525

SherborneSchoolfor	SherborneSchoolfor	Girls
NOTESTOTHEFINANCIALSTATEMENTS
fortheyearended31August2022
10 TANGIBLEFIXED	ASSETS(continued)
				Furniture,	Assetsinthe
	Freehold		Swimming	machinery	courseof
CHARITY	land £	Buildings £	pool £	equipment £	construction £	Total
Cost:
1September 2021	17,256	36,494,190	188,014	5,931,020	147,309	42,777,789
Disposals	-	-	-	(41,916)		(41,916)
Additions	-	459,756	-	361,089	287,309	1,108,154
Transfersinto
use
31August2022	17,256	36,953,946	188,014	6,250,193	434,618	43,844,027
Depreciation:
1September 2021	-	(12,165,625)	(66,032)	(5,224,161)		(17,455,818)
Disposals	-	-	-	29,466		29,466
Chargeforyear	-	(868,860)	(4,527)	(273,145)		(1,146,532)
31August2022	-	(13,034,485)	(70,559)	(5,467,840)		(18,572,884)
NetBookvalues:
31August2022	17,256	23,919,461	117,455	782,353	434,618	25,271,143
31August2021	17,256	24,328,565	121,982	706,859	147,309	25,321,971

11	INVESTMENTS
	Group	2022	2021
	ListedInvestmentsatmarketvalue
	Broughtforward	4,610,585	4,010,523
	Acquisitionsatcost	44,923	125,772
	Increase/(decrease)inmarketvalue	(140,986)	491,817
	Disposalsatmarketvalue	(60,011)	(17,527)
	Carriedforward	4,454,511	4,610,585
	Cashheldbyinvestmentmanager	60,289	53,205
	Totalinvestments(excludingsubsidiaryshares)
		4,514,800	4,663,790
	Charity
	Sharesinsubsidiarytradingcompanyatcost	100	100
	TotalFixedAssetInvestments
		4,514,900	4,663,890
	Summary	2022	2021
	Unrestricted:
	Generalinvestments	2,623,321	2,654,082
	Restrictedfunds:
	Otherspecificfunds(Scholarship& Prizes)	505,511	523,581
	BougheyTrust	58,042	49,591
	Verdon-Smith	18,492	17,400
	Bursaries& Scholarships	473,524	490,806
	Toryfund	130,110	197,451
	Endowedfunds:
	BougheyTrust	389,147	400,909
	Verdon-Smith	316,653	329,970
		4,514,800	4,663,790
	Restrictedinvestmentsareheldinrespectofspecificrestrictedfunds.	Forfullanalysisof	fundsplease
	refertoNote17.
	38

AdvancefeesschemerepresentsamountspaidinadvancetotheSchoolwhichwill	AdvancefeesschemerepresentsamountspaidinadvancetotheSchoolwhichwill	AdvancefeesschemerepresentsamountspaidinadvancetotheSchoolwhichwill	becreditedtoincoming	becreditedtoincoming
resourcesinmorethanoneyear. Intheeventofa pupil	notbeingoffereda place,		orwholeavesearly,	a
repaymentoftheadvancedfeewillfalldueuponnotice	bytheparent.
AssumingpupilswillremainintheSchooladvancedfees	willbeappliedasfollows:
			2022	2021
			£	£
Aftermorethanfiveyears			75,417	-
Withintwotofiveyears			635,307	644,754
Withinonetotwoyears			500,522	560,543
Overmorethanoneyear			1,211,246	1,205,297
Withinoneyear(seenote13)			816,434	828,142
Balanceat31August2022			2,027,680	2,033,439
Summaryinmovementsinliability			2022	2021
			£	£
Balanceat1 September2021			2,033,439	1,975,124
Newcontracts			855,995	811,004
Returnedpayments
Amountsusedtopayfees			(914,456)	(803,259)
Amountsaccruedtocontractasdebtfinancingcost			52,702	50,570
Balanceat31August2022
			2,027,680	2,033,439
16FINANCIALINSTRUMENTS
	Group		Charity
	2022	2021	2022	2021
	£	£	£	£
FinancialassetsmeasuredatFairValue	4,514,899	4,663,790	4,514,899 4,663,790
Financialassetsmeasuredatamortised	3,441,351	2,893,550	5,391,336 4,810,391
cost
Financialliabilitiesmeasuredatamortised	9,470,031	9,583,894	9,470,031 9,604,849
cost
Financialassetsmeasuredatfairvalueincludesassetsheldasinvestments.
Financialassetsmeasuredatamortisedcostcompriseoftradeandotherdebtors,accrued income,amounts
owedfromsubsidiaryundertakings,baddebtwriteoffandmovementinbaddebt			provision.
Financialliabilitiesmeasuredatamortisedcostcomprise	ofcash,trade	creditors,pensioncontributions		due,
obligationsunderfinanceleases,accruals,feedeposits,amountsowed		togroupundertakingsandbank
overdraftsandloans.
41

SherborneSchool	forGirls
NOTESTOTHEFINANCIAL	STATEMENTS
fortheyearended31August2022
17 STATEMENTOFFUNDS
	At						At
	1September	Incoming		Resources	Investment		31August
	2021	resources		expended	Gains/		2022
					Transfers
	£	£		£	£		£
Unrestrictedfunds:
General	18,955,358	18,629,649		(17,769,618)	(97,087)		19,718,302
WheretheSchoolNeeds	3,178	98,638		(86,022)	-		15,794
ItMost
	18,958,536	18,728,287		(17,855,640)	(97,087)		19,734,096
RestrictedFunds:
Verdon-Smith	17,400	9,339		(8,247)		-	18,492
BougheyTrust	49,592	11,451		(3,001)		-	58,042
ScholarshipFund	409,433	11,061		(11,245)	(14,224)		395,025
PrizeFund	114,148	3,002		(2,792)	(3,872)		110,486
Bursaries& Scholarships	490,807	13,238		(13,492)	(17,029)		473,524
Developmentfunds:
Scholarship& Bursaries	11,877	1,884		(632)	-		13,129
AnnualFund	1,600		-	-	-		1,600
ArtsCentreFund	4,192	7,323		(6,351)	-		5,164
ToryMasterclass	203,856	57,693		(70,424)	(61,015)		130,110
Buildings andFacilities	2,205		-	-	-		2,205
CandlelightFund	5,018	53,141		(33,139)	-		25,020
TotalRestrictedFunds	1,310,128	168,132		(149,323)	(96,140)		1,232,797
Endowedfunds:
Verdon-Smith	329,970		-	(1,270)	(12,047)		316,653
BougheyTrust	400,909		-	(1,679)	(10,083)		389,147
TotalEndowedFunds	730,879		-	(2,949)	(22,130)		705,800
Totalfunds	20,999,543	18,896,419		(18,007,912)	(215,357)		21,672,693

SherborneSchool	for Girls
NOTESTOTHEFINANCIAL	STATEMENTS
fortheyearended31August2022
17 STATEMENTOFFUNDS	(Continued)
	At				At
	1September	Incoming	Resources	Investment	31August
	2020	resources	expended	Gains/	2021
				Transfers
			£	£
Unrestrictedfunds:
General	18,696,076	16,044,931	(16,044,590)	258,941	18,955,358
WheretheSchoolNeeds	-	21,255	(18,077)		3,178
ItMost
	18,696,076	16,066,186	(16,062,667)	258,941	18,958,536
RestrictedFunds:
Verdon-Smith	12,613	12,917	(8,130)		17,400
BougheyTrust	33,919	15,673			49,592
ScholarshipFund	364,617	15,198	(10,701)	40,319	409,433
PrizeFund	99,318	4,148	(303)	10,985	114,148
Bursaries& Scholarships	437,639	18,101	(12,839)	47,906	490,807
Developmentfunds:
Scholarship& Bursaries	34,732	2,145	(25,000)		11,877
AnnualFund	1,600				1,600
ArtsCentreFund	-	17,721	(13,529)		4,192
ToryMasterclass	139,638	2,204	(469)	62,483	203,856
BuildingsandFacilities	2,205				2,205
CandlelightFund	3,358	40,089	(38,429)		5,018
TotalRestrictedFunds	1,129,639	128,196	(109,400)	161,693	1,310,128
Endowedfunds:
Verdon-Smith	296,688		(929)	34,211	329,970
BougheyTrust	365,140		(1,203)	36,972	400,909
TotalEndowedFunds	661,828		(2,132)	71,183	730,879
Totalfunds	20,487,543	16,194,382	(16,174,199)	491,817	20,999,543

	b)	ANALYSISOFGROUPNETASSETSBETWEEN	FUNDS- COMPARATIVE	FUNDS- COMPARATIVE
			Unrestricted	Restricted		Endowed
			funds	funds		funds		Total
			£	£		£		£
		Fund balancesat31August2021are
		representedby:
		Intangiblefixedassets	19,744		-	-		19,744
		Tangiblefixedassets	27,433,525		-	-		27,433,525
		Investments	2,622,783	1,310,128		730,879		4,663,790
		Currentassets	3,056,052		-	-		3,056,052
		Currentliabilities	(6,624,671)		-		-	(6,624,671)
		Longtermliabilities	(7,548,897)		-		-	(7,548,897)
		Totalfunds	18,958,536	1,310,128		730,879		20,999,543
18		RECONCILIATIONINNETDEBT
						Othernon
			At1 Sept			cash		At31Aug
			2021	CashFlow		changes		2022
			£	£		£		£
		Reconciliationinnetdebt
		Cashatbankandinhand	2,784,632	276,011		-		3,060,643
		Shorttermcashdeposits
		Bankoverdraft
		Debtduewithinoneyear	(839,967)	165,451		-		(674,516)
		Debtdueoveroneyear	(6,343,600)	629,512			-	(5,714,088)
		Totalfunds	(4,398,935)	1,070,974		-		3,327,961

19	NETINCOMEFROMACTIVITIESOFTHESUBSIDIARIES(continued)
	(ii)SherborneSportsandLeisureLimited	2022	2021
		£	£
	Incomingresources	1,059,761	820,270
	Costofcharitableactivities	(1,120,217)	(817,588)
	Netmovementinfunds	(60,456)	2,682
	Theaggregateofassets,liabilitiesandfundswas:
	Assets	2,187,484	2,219,661
	Liabilities	(2,008,915)	(1,980,636)
		178,569	239,025
	Representedby:
	Generalfunds	178,569	239,025
	(iii)TheSherborneGirlsFoundation	2022	2021
		£	£
	Incomingresources	160,985	109,953
	Costofcharitableactivities	(126,144)	(123,778)
	Netmovementinfunds	34,841	(13,825)
	Theaggregateofassets,liabilitiesandfundswas:
	Assets	64,927	25,015
	Liabilities	(5,821)	(750)
		59,106	24,265
	Representedby:
	Restrictedfunds	59,106	24,265

		2022		2021
		£		£
Netincomingresources		673,150		512,000
Investmentincome		(91,274)		(201,264)
Financecosts		368,389		394,720
Investment(gains)/losses		215,357		(491,883)
Investmentmanagementcharges		15,770		12,269
Depreciationcharges		1,239,453		1,212,259
Amortisationofintangibleasset		3,949		3,948
(Increase)/decreaseinstock		22,462		13,107
(Increase)/decreaseindebtors		(594,090)		233,420
(Increase}/decreaseincreditors(excludingfeesinadvance	schemeand	217,497		329,134
deposit)
Increase/(decrease)inadvanceschemecreditors		248,742		500,349
(Increase)/decreaseinparentsdeposits		219,194		356,063
Netcashinflowfromoperations		2,538,599		2,874,122
Analysisofchangesinnetfunds
	Ati	Cashflows		At31
	September			August
	2021			2022
	£	£		£
Cashatbank	2,784,632	276,011		3,060,643
Overdraft	-		-		-
Shorttermcashdeposits	-		-		-
Totalfunds	2,784,632	276,011		3,060,643