Registered number: 00587487 Charlly number: 307T93 MARLBOROUGH HOUSE SCHOOL TRUST LIMITED (A Company Llmlted by Guarantee) GOVERNORS. REPORT AND FINANCIAL STATEAqENTS FOR THE YEAR ENDED 31 AUGUST2022 MARLBOROUGH HOUSE SCHOOL TRUST LIMITED (A Company Limited by Guarantee) coKrENTS Page Rèference and Admlnistratlve Detalls of the Company, Itg Govemors and Adv18ers Governofs. Report Independent Audltor's Report on the Flnanclal Statements Statement ol Flnan¢lal P£tivlties 10-13 14 Balance Sheel 15- 16 Slat¢ment of Cash Flows 17 Notes lo the Flnan¢l81 Ststements 18-31 MARLBOROUGH HOUSE SCHOOL TRUST LIMITED (A Company Limited by Guarnnte8) REFERENCE AND ADMINISTRATIVE D￿AlLs OF THE COMPANY, ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022 Governors Mfs J M Webb Mr S F Cloke Dr R Rainavel Mr T N M Lawson Mr S J Hodson, Chairman Mrs S R R68V8S Mrs A H Petch Mr P W Smalth)od Mr O A Reynokls Mr H R F Somersel Company reglstered number 00587487 Charlty reglstsrod nUm￿r 307793 Roglsterod offlco Madborough House School Trust Limited. High Str861, Hawkhurst, Cranbrook. TN18 4PY Head Mr E Nwton Company Secretary Mr E Newton Independenl audltor Crowe U.K. LLP. Riverside House, 40- 46 High Streel. Maidstone, Kent, ME14 1JH Page 1 MARLBOROUGH HOUSE SCHOOL TRUST LiIArrED (A Company Limlted by Guaranlee) GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2022 The Governors present their annual report tog81her with the audited financial statements lor 1 sl September 2021 10 31st August 2022. The Governors confirm thal the Annual Rewrt and financial statements of the School comply wlh the current statutory requirements, the requirements of the company's governing document and the provisions ol the siaiemenl of Flecommended Practice ISORPI, applicable to charities preparing their accounts in accordance with Iho Financial ReFKSrting Skndard applicable in ihe UK and Republic ot Ireland IFRS 1021 letteclive 1 st January 20151- Marborough House School Ilhe School'l is rogistered with DCSF as School Number 88616005. 11 is regis18red as Ghafily Number 307793. and hokls the Company Registration number 587487, with the liability ol its members limited lo £1 each by guarantee. During the year. the School changed ils accounting r8ference date lo 3(Xh Augusl 2022., as permitted by section 39012bl of the Companies Act Ihe accounls have been prepared up lo 31st August 2022. Within the insurance tx)licies that the School hokts is an exlension that indemnifies th8 Trustees agansl any acts thal result in action against them. None of the Direclofs has any beneficial interest in the Company. The Registered Ollice and principal addrass of the Company is ai Marlborough House School. High Street, Hawkhurst, Kent TN18 4PY. STRUCTUR& GOVERNANCE ANO MANAGEMENT Status of the company Madb)rough Hous8 School was founded in 1874 was incorForaled on 18th July 1957 under the Companies Acls 1948 as Marlborough House School Trusi Limit•J, a Charitable Company limiled by guarantee. Govemlng body The School is governed by Tts Memorandum and Articles ol Assoclalioft. Th8 Directors ol Ihe School, who are also the CharSty Trustees and the Schwl Governors, who served during the y8ar are shown below.. Mr S F Clokg Mr S J Hodson Ichaimianl Mr T N M Lawson Mrs A Pelch Dr R Ratnavel Mrs S R Reeves Mr O A Reynolds Mr P W Smallwood Mr H R F Somerset Mrs J M Wabb Mrs C IAarshall aFpointgd 16th Soplember 2022 Board of Governors The Dir9clors, who are also the Charity Tnjslees, are required under the Articles to S8rv8 as Governors ol Ihe School. They are elected al a lull Governors, Meeling on the basis ol nominallons received from existing Governors and the Head taking irKlependenl athce as appropriate in or(ler lo ensure a suitable cross section ol expertise, personal comp818nce, specialist skills and local availability. Govemors serve tor an initial term ol live years and are eligible to sland lor re eleclion lor further five year terms. Page 2 MARLBOROUGH HOUSE SCHOOL TRUST LIMITED (A Company Llmlled by Guarnntee) GOVERNORS. REPORT (Co￿lmuED) FOR THE YEAR ENDED 31 AUGUST 2022 Governor tralnlng New Governors are inducled into the workings of the School. arKI atso of the Company as a Registered Charity including Board Policy and Procedures, through a program arranged by th& Head and Clèrk lo the Governors. Tiaining Days and Extraordinary Meetings are scheduled Feriodically lo provkge upxlaies lor the Directors and lo consider strategic planning and governance issues. New Governors have th6 OFWrtunty to attend the Association ol Governing Bodies in Independent Schc(sls IAGBISI New Governors Course and all Gov8mors have the opportunity Ic attend AGBIS briefings and specialist courses run by extemai organisations. Organlsatlonal management The Governors as Directors determine the general policies ol the School and review tts overall managomonl and control. The day lo day managemenl ol the School is d8legal8d lo the key management porsonn61. comprising Ihe Head and Ihe other members ol th8 School's Senior Leadership Team. The Governors meet as a Board al least three limes a y8ar. The work ol implementing most ol the Board's Folicies is carried out by Ihe Finance and Property Committee {specilically lo review the budgats. annual accounts and reports), the Education and Wgllare Committee and the Healtli and Safety Comfflittee, each ol which meets al least three Imes a year prlor to the Main Board meetings. In addition, the Finance arKI Prop8rty Comrnittee has been considering ways to develop the School's premises and facilities. Each Committee oporates under specillc lefms ol r81erence agreed by the Board ol Governors and has ils decisions ralifi&g by the full Board. The Head attends all meetings of the full Board and all meetings ol the Board Committees. Group structure and relatlon8hlp8 The School is an active rnemb8r ol the Independent Association of Prep Schools I'IAPS'I and th8 Boarding School Association I'BSA'I lor the promotion and mantenan¢e of proparatory school slandards generally and also takes part in peer group studies lor the evalualion ol qualty and p9rformance improvement molhods. The School aclivety seeks to engage with local Charriies, community and voluntary group$ in ￿nIinU1ng ondoavors to widen public access lo rts facilities, to optimis8 the educational us& of ils cultural and sporting facililies and to awaken in the pupi￿ an awareness of the vider social context ol the educaiion Ihoy receive al the School. OBJECTIVES AND AcnvmES The principal object of the Company, Sn accordance Mth its M&morandum and Articles ol Association, is the education of children al the Independent Preparatory &hool of Madborough House, Hawkhursl, Kent. In the furtherance of this object, the Directors, as Ihe Charity Trustees, have wmplied wth the duty in section 4 01 the Charities Act 2011 to have due regard lo the Charity Commission's published general and rolgvant sub sector guidance concerning the operation of the Public Beneflt reqU1￿ment under that Act. Prfnclpal Actlvlty Mar1borough House School Trust's principal aclwity is Ihe provision of a Pieparatory School in Hawkhurst for girls and boys ag￿1 from 2 Ih lo 13. In conducling its business, the School is on8 ol the biggest kJ¢al employers with many members of ils slalf resideffl within ihe immediate vicinty. The School use5 the servic8s ol loGal bjsinesses and suppliers where pK>ssible. Total puiil numbers sto￿￿ at 203 wilh an adJilional 32 in Nursery giving a total school roll of 2&512021 2471 in the Summer lemi 2022. Slrateglc Alm and Ellect The Board's overall strategic aSm is lo salisfy the r￿virementS of Public Benefit by operating Marlborough House School as a charitable IndeFendent Preparatory School. While the families of mosl ol the School's pupils pay tull fe8s. the Board aims lo sel these fees al a18vel which enab￿$ the School io provide bursaries lo the lamilies ol a nurnb8r of pupils who otherwise would not be able to attend the School. Page 3 MARLBOROUGH HOUSE SCHOOL TRUST Um￿ED (A Company Llmiled by Guarantee) GOVERNORS. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 The Board's strategic aim for the School is for Tt lo oller an oumiard looking. secure and inclusive environment for the whole School community, using high quality resources and a high standard of lacililies and providing an excellent all round 9ducation for Ihe School's wpils. To holp achieve its objectives, the Board aims lo ensure Ihat the School is as close lo capacity as F)ossible. maintains a high Yeacher lo pupil. ratio and tailors ils leaching and pastoral care services to suit pupils. indiv'Klual needs. ObJe¢tlves for tho Year The Board's main o￿lectIveS lor the School during Ihe year under revi8w ware: to support the Head's drive and passion to instil greater c(Jnfid8n¢e in Ihe whole School community. lollowing the aFpoinlmenl of Mr Newton, lo establish and impbment his 2 year stralegy, which was Pfesenled lo and signed oll by the Board shortly aller his appointmgnt, with their full surff)rt', this 2 year strategy covers both short and medium term financial and organisational plans and ctjvereo a perfod Ihal extended beyond the gnd ol the 202112022 financial year. lo work with Ihe new Head, and other mombers ol the Senior L8adership Tearn lo continue to Implomenl the School's long term Strategic Plan, which is complementary to the new Head's 2 year Slrategy: lo continu810 eduoale pupils al the School lo a very high standard, ensuring all pupils r8ach thelr fvll potential in all aspe¢ls ol school life and are well p￿pared lor Iheir move into senior school; lo support and embed the Pre Sch¢)018ac¢alaureale Y8ar 7 pupils; lo continue to provide bursaries to the families ol pupils who would olharwlse not b8 able lo allend th& School- lo conliftue to WO￿ collaborativ8ly with local charities, community and voluntary organisats'ons and educali¢nal bodies lo provide access lo the School's facililios- to compl818 lh8 renovation and start uslng the Art and DT Centre ol Excellence as well as lo commence the planning ol improvemenl lo other School facilities. Grant maklng poll¢les During the financial year under rwew, the School has mainiain8d ils means lesi&J ￿tsary support lor 5 puiils 12021-. 5 pupils) al a cost of £32,708. 12021.. £65.415) through its own Bursary Scheme. This suptx)rl is available on a needs basis as determined by Ihe members ol the Finance and Piopety Committee following discussions with the Head. The School's policy on awarding bursaries is kept under regular review by the Board. STAFF Volunteers The Friends of Marlb)rough House Continue to help wih tho School's charitable fundraising and cultural activities, with members devoting considerable time and resourc8s on a voluntary basis. The Board is very appreciative ol iheir work on behalf ol the School. Page 4 MARLBOROUGH HOUSE SCHOOL TRUST LIMff ED {A Company Lirnlte(I by Guarantee) GOVERNORS. REPORT (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2022 Romun•rnlion of Employ88s Tho r•mun8ratK)n ol the Head is set by the Board. The remunoralion ol oiher members of th8 S8nior Leadershlp Team and all other staff is determined by the Head in accordanc8 with ihe whole School remuneration policy and budget, which 15 sel annualty by the Board following a recommerKlaiion by the Finance and Propety Committee. In setting Ihis policy and budget, referen￿ is made lo ¢ompari50ns with other schools to ensure that the School is sensitive to the broader issues ol pay and empk)ymenl conditions elsewhere. Slall costs are, by a long way, Ihe largesl single element of the School's regular charilable expenditure and thg Board believes Ihal successful delivery ol tha School's charitable vision and puryx)se is very significantly dependent on the skills, expertise and Ferformance ol the key management personnel and oth8r memèers ol the School's staff. REVIEW OF ACTivmES Achlevements and Porformonco The S¢h¢)ol has continued lo embed the new SenK>r Currwlum (Pre Senlor Baccalaur881el which was launch& in Year 7 in 2019 wrth allocated slafl all trained approprialely. The delivery of th8 new Senior Curriculum wa8 dlscussed wih parents in all year groups in lace to laco me8liThJ$. while Ihe s•nior chiklren also receive sch¢)ol Chrome books lo assist with their irKJ8P8nd8ni lèaming. Th8 Staff Acad8mi¢ Committee continues to monitor leaching and 19aming and look at various lopks, such as ICT provision, dill&rentialion arKI ass8ssmenl and reporting. This year the Sohod made a conscious decision to supwrt a numb8r of local charities as wall as somo national ones. Donations were made as follows.. Red Cross, Ukraine AFP8al: £959, Chikjren in Need: £410. 8arnardo's'. £53, Demelza House £60, Comi¢ Relief: £365 and various food donations to th8 Local Fry)J Bank. The devek)pment ol facilities continued, with th8 extension to the Art and DT Contro ol Excellence b8ing largely completed and opened lor use in the Summer tern 2022. FUTURE DEVELOPMETr¥rs The arrival ol a new, exFerienced Head has enablod Ihe School lo look foNard with confidence and optimism. Eddy Newton's initial actions have given Certainty and reassurance lo the staff arKI parents. and the implementation of his 2 year strategy for the School is seeing tJ)srtive results. Physical developments have included improving the app8aran¢e of certain buildings and the refU￿1$hed and ne￿Y located second hand unifomi shop has been well received within the School cornmunity. Painting the outside of the Old Gym has lifted Ihe whole appearance ol Ihe buikjing. Hawng secured full planning pormission for Ihe relurbishmenl of the staff room and COMp￿te r8plac8ment and expansion of the Art and DT buildings, works commenced in Oclobei 2021 and were largety ￿Mpleted in May 2022. A thorough review of silg usage and a timetable tor the improvement of outdoor spons. laciltiies is being considered. In this conlexl, th6 COn￿ructIOn ol a new all-wealher swrts pitch was commenced and has been completed since the linancial y9ar ond, which is provKling a much improv&J facility for the pupib. especialty lor playing hockgy With thè profound effects of the Cowd 19 parMdemi¢ still a factor. the on going challenge of provKling a high standard of leaching without disruptions remains a key priortty. as does the inslallatTon of satisfactory safety measur8s for the day lo day use of the School. HO)rid teaching. wth teach8rs delivering lessons to pupils in School and simultaneously to wpils al home was established and ihis model can be quickly adapled rf the School is required lo respond again lo any health relaled shocks or problems that might result in a closure of the School's premlses. Page 5 MARLBOROUGH HOUSE SCHOOL TRUST LIMrrED (A Company Llmited by Guarantee) GOVERNORS. REPORT (CONnNUED) FOR THE YEAR ENDED 31 AUGUST 2022 Alongside Marketing and Admissions, there is a planned drive to increase pupil numbers while simultaneously controlling the stall costs ol the School. The 2 year slralegy for the School anlicipaled a 100A increase in pupil numbers, with a managed r8duction of costs over the period and pleasingly the total number of pupils enrolled in Summer 2023 has increased by over 5% Compared lo th8 equivalent peri￿ in 2022. The recently published Indep8nd8ni Schools Inspection report on the School rat8d it Excellent in all areas which is a very positive conclusion, the effect of which mighi b8 expe¢led lo support th8 School's ambitious recovery expeclalions going foThYard. In the first quarter 012021. following consulialion, the School made the decision to16ave the Teachers, Pension Scheme and Iransler th8 eligible employees lo a new d8fined contribution schem8. This has successfully been Implemented and the new APTIS scheme is In place and lully operalKJnal. FINANCIAL REVIEW Th8 Directors report a deficit before deprecialion, amortisabon and property revaluatlons lor the year ended 31 st Augu9t 2022 01 £255.45612021 delicil - £241,302). Total income 01 £3,175,841 12021 £3,284,562), was 3.30 lower than that achieved in th8 previ￿$ year, while lotal expendrture (kxfore depreciation and amortisalionl of £3,431,29712021 .. £3.526,388) was 3% lower than the previous year. Capital expenditure during the year ioialled £600.687 12021= £87,685>. £584,655 was spent on th8 Buildings Developmgnt Plan with an addilionai £10,872 spent on lixtures and fittings and £5,160 on IT equipment. Funds are raised from fee income and a proportion of nel lee income is used directly to support chlldren through means lesled bursaries. In this way families ol chikdren who wouhj othe￿is8 not b9 able to allend the School are given financial support., this includes some Casas of hardship In the famllies of existing pupils. Investment powers are 98t out in the Memorandum and Artldes of Association. These permit the Dir8cIoTS to invest the monies ol the Trust not immediately required lor its purposes in, or up)n such investments, s8curiIigs or property as may be thought tit, but so that monios subject lo, or represenling propety subject lo the jurisdiction of the Charity Commissloners lor England and Wales or the Secretary ol Stale lor Children, Schools and Families, shall only be inv8sl8d in such gecurilies and wth Such ganclion. il any, as may for the tim8 bging be prescribed by law. During th8 year investment irthme totalled £23212021: £6421. RESERVES POLICY Al 31 sl August 2022, unreslricted funds lafter excluding thos8 funds which have been d&signaled lor specific purposes) stood al £4,829,923 131 sl August 2021- £5,264,001)- The School aims to increase its unreslriclgd funds each year by tNJdgeling lor a m¢)desl FQSI dOpr￿latiOn sU￿lUS to be achieved and thiough careful financial management. This objective was not achieved durin9 the year under revlaw in terms ol und9r1￿ng financial performance. Ai 31 sl August 2022, free reseryes (after deducling the carwng value ol lixed assets which are all held lor the School's usel, as defined by Ihe Ghartty Commission. stood al a deficit of £729,080131sl August 2021: surplus of £121,213}. Page 6 MARLBOROUGH HOUSE SCHOOL TRUST UMrrED {A Company Llmlled by Guarantee) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 At 315t August 2022, the School had lolal nel cash of £167,610 {2021- £919,433). After deducting lees paid in advanc8, deposits and amounts received under the advance fae paymenl scheme, underlying nel debi stood at £349,215 12021 E394,3021. Maintaining cash balances in addthon to the ￿mmItted d8bt and overdrali bank facilities that ihe School has in place. EKovides the School with financial s8curity, as. in the event ol a sudden significant drop in 188 incorne, which could be caused by a substantial reduction in pupil llumbers, h would 8nable the School's c#Jrrent activities to be continued. while considerat￿n was given lo ways in which operating costs could b8 reduced or athjitional funds raised lo ensure Ihai the School's linances were sustainable. The School's clear objective, which will only be likety lo be achi8v8d rf enrolled pupil numbers show grovrth, is lo rebuild ils cash balances unreslrictive reserves. During the 202112022 financial year, th& Schcol has not taken part In or an aclive program of fundraising. PRINCIPAL RISKS AND UNCERTAINTIES Th8 Board, Ihrough its committees and Y￿th assistance from the School's Senior Leadership Team, k68p$ the School's activities under regular revi8w, ￿th particular regard lo any risks which may arise. Th8 Board discusses such risks and lakes steps which aim lo minimise the probability ol occurrence and th8 extent of ihe Impact Ihal any ol them may have on the continued success of the School. The Board consKlers that the pnndpal risks which coukj impact the School Include the following: a substantial ￿dUctI￿ in pupil numbers. This coukl be caused. Inter alla, by: a d￿lIne in the afford*ylty of school 188s generally across the indeFendenl schcwjls sedor, meaning Ihal lewer pupils attend indepondenl preparatory schools. due, for instance, lo a difliculi economlc environment, or changgs in1ggislalK)n or charity regulalions: arKI Specific laclors which wukl alfect the School, such as a failure to recruit high quality slalf, increased compelition from nearby schools, th8 decision taken by a nearby Grammar School lo reduce its intake age from 13 years old lo 11 years okl, and the unlikely event ol severe reputational damag8 lo the Sohool being ¢aused by a¢tlon$ or events involwng the School's staff andjor puiyls; catastrophic events, which ¢ouhJ Cause signilicant damago to the sch￿I.s premises, including, for instance. flood or fi￿. {iiil personal heatth and safety risks, including a major accident involviThJ the School's pupils andlor stall, either on the School's premises or vthon away Iroffl Ihe School on ITIPS organised by the School: and {iv) signilicant financial fraLKI. The School maintsins a Flisk Management Registar. wh￿h id8ntifies the major risks lo which the SchcK)l 18 subject and describes the Control Procedures. including intemal ¢onlro15 and oth8r viable means. such as Insurance cover. used lo reduce the likelihood of each event occurring arfor to mitigate ils ellecl. The School's Senior Leadership Team is responsible for ensuring that the risks KJ8nlilied are managed appropriately, with relorence lo the Control Procedures. The Risk Management Register is conskdered in detail by the Head and two Governors on at least an annual basis and then reviewed by the ￿>ard as a whole. In addilion. Ihe Board oversees compliar￿8 With current legislation and the Regulatory FleqU1￿MenIS ol the Independeni Schools Insp8¢torato, as wall as règulady review￿n9 and considering the elfe¢tivenos5 01 th8 School's Policies. which cover a wide range of matlers wh￿h are imFQrtant for the successful managgmenl of the School. Inewtabty. as a cOnS￿uence of the Covid 19 pandemic, the SclKM)I was required to review with the utmost car8 and diligence its procedures in relalion to managing the risk of infection when the School lully reopened in the Page 7 MARL80ROUGH HOUSE SCHOOL TRUST LIMITED (A Company Limtted by Guarantee) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Autumn of 2020 and on an ongoing basis as the COVKI 19 pandemic evolved. These procedures are kept under constant review and the School continues to pay ck)se attention to this evolving silualion and to any oth8r health related risks. The School is conlid8nl that il can lake and maintain whatever sleps are needed to en5urg a sale environment for pupils. slaff and visitors lo ihe School. At any time, the School will always aim lo be ready to adapt (ts premises in order 10 pfovKle the best educational exp8rience whilst being mindful ol complying with Government wles and guidance al the relevant time. GOING CONCERN Accounting standards requir8 lh8 Governors to consKl6r Iha approprialeness ol the going concern basis when preparing tho financial slatemenls. The Governors have prepared cashllow lorecasls for the néxt 12 months bawi on current 8xFeclalions of wpil numbers and expgndilure. Th85e cashllow lorecasls also include the repayment ol tha CBILS loan facilities as noted in note 16 01 th8 financial slalemenls as well as r8payinents associai8d wilh a loan taken oul lo pay lor works lo resurface ils all-wealher playing surface Ith8 loan taken out and associated works undertaken aller the end of the linan¢lal year lo 31st August 2022.1 In order to ensure that the School has adequate financial r880urces going forward, both lo manage worting capilal swings during the year and lo provide capital lor investment, the School has also arranged a new £6(K),000 loan facility which was seciJr8d Ibul not drawn) aller the end ol the Ilnancial year lo 31 st August 2022. Taking inlo consideration ￿1 of tho aLN)ve lactors, the Govemors have a reasonabl8 QXP8Ctalion that the School has adequate resources to continue in operational 8XiStence for the lorÈse8able future. The School theretore continuès lo adopt the going concem basis in preparing ils financial statements. GOVERNORS. RESPONSIBILMES STATEMEKr The Govemors Iwho are also directors of Marlborough House School Trust Limited lor the purwses ol company lawl are responsible lor preparfng the Govemors, rep)rt and the financial statements in accordanc8 wlth applicabl8 Saw and United Klngdom Accounting Standards {Uniled Kingdom Generally Acceptèd Accounting Praclicel- Company law requires the Govemors lo prepare linancial slalemenls for each financial year. Und8r company law tho Governors must not approve Ihe financial siaiemenls unless they are satisfied that they givo a true and lair viow ol the slate ol affairs of the School and ol the incoming resources and applicalion ol resources, including th8 income and expenditure. of the School lor Ihat ￿rIod. In prèparing these financial stalem8nts, the Governors are required to.. 58lecl surtable accouniing poficies and thon apply them consistently., observe the meihods and principles in the Charities SORP: make judgmenls and accounting eslirnaies that are r￿Onab￿ and prudent., slate whether applicable UK Accounting Standards have been l0Slowed, sublecl to any material departures disclosed and explained in Ihe linanclal stalements- prepare Ihe financial stalements on lh6 going concam basis unless it is inakTJTopriate to presume Ihat the School will continue in operation. The Governors are responsible for keeping adequate accounting records that are sufficient lo show and explain th8 School's transactions and disclose wilh reasonabl8 accuracy at any lime the linancial position cf Ihg School and enable them lo ensure that the financial slalaments comply with the Companies Act 2006. They are also responsible lor safeguarding the assets ol the School and hence lor takirNJ reasonable steps lor the prevention and detection ol fraud and otfver irrogularilies. Page 8 MARLBOROUGH HOUSE SCHOOL TRUST LIMrrED (A Company Llmlted by Guarantee) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 DISCLOSURE OF INFORMATION TO AUDrroR Each of the persons who are Governors at the lime when ihis Govemors. rewrt is approv&J has confimied that.. $0 far as that Governor is aware. the￿ is no Televant audil information of which th8 School's auditor is unaware, and that Govemor has laken all ihe $18ps that ought to have been taken as a Governor in order to ba aware ApFwov ol the mgmtprs of the L￿ard ol Governors on signed on their behalf by: Mr S J Hodson {Chair of Trustees) Page 9 MARLBOROUGH HOUSE SCHOOL TRUST LIMrrED (A Company Umlted by Guarant88 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MARLBOROUGH HOUSE SCHOOL TRUST LIMITED Oplnlon We have audited the financial stalemenls ol Marlborwgh House Sthool Trust Limited (the 'charitable company'l for the Year ended 31 st August 2022 which comprise the Statement ot Financial Activities, the Balance Sheet, the Sialemenl ol Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework thal has been applied in their preparation is applicabl8 law and United Kingdom Accounting Standards, induding Financial Reporting Slandard 102 'Th@ Financial Reporling Standard applicable In the UK and Republic ol Ireland, (Uniled Kingdom Generally Ac¢8plad Accounling Praclicel- In our opinion Ihe financial ￿ateMents.. give a true and fwr view ol the slate of the charitable compan￿8 affaifs as al 31 st August 2022 and of its incoming r8sources arKt aFolicalion of resources, including ils income and expendilure for the Year then ended., have b8en proporly prepared in accordance with United Kingth)m Generally Accepted Accounting Practice., and have been prepared in actsjrdance ￿th th8 requiiements ol the Companies Act 2006. Ba818 lor oplnlon We conducted our audit in ac¢ordance wilh IntemalDnal Siandards on Auditing IUKI IISAS IUKII and applicable law. Our resF)onsibilities under those standards are further desc(ib8d in the Audilo