2020-08-31-accounts

CONTENTS			Page
Directors and company		information
Governors' report
Independent auditors'		report
Statement offinancial		activities	16
Balance sheet			17
Cash flow statement			18
Notes to the financial	statements		19

Directors (Governors	Directors (Governors	Directors (Governors	of	the	School)	PJ Woodhouse	(Chairman)	(Chairman)	(Chairman)
						Mrs K Fenwick
						BR K Moorhead	(resigned			14'"January 2021)
						G Mann (resigned		26'" February 2020)
						Mrs L Martine (resigned 30'" September 2020)
						J M WSale
						C Burge (resigned			2"' October 2019)
						D Royds
						A Harber
						JJackson
						A Land (appointed		26'" February 2020)
						K Morgan (appointed			20'" May 2020)
						C Evans
Secretary	and registered			office		Mrs BA Parsons
						Wellesley House
						114Ramsgate Road
						Broadstairs
						Kent
						CT102DG
Company	registration		number			859223
Charity registration		number				307852
Auditors						Saffery Champness			LLP
						Chartered Accountants
						71 Queen Victoria		Street
						London
						EC4V4BE
Key Management		Personnel			and Professional	Advisers
Headmaster						G D Franklin
Bursar						Mrs BA Parsons
Solicitors						Hewitson Moorhead			LLP
						Kildare House
						3Dorset Rise
						London
						EC4Y 8EN
Bankers						HSBC UK
						26Westwood Cross			Shopping Centre
						Broadstairs
						Kent

Links with the Community	Links with the Community	Links with the Community	Links with the Community
Sofar as it is able due to the pandemic, the School lets out its facilities or				provides	them		free ofcharge
for a number ofactivities.		In the last year this has included the following:
Sports Hall			This has been made available to the	Thanet	Light	Orchestra			for
			weekl rehearsals
The Old Hall			Free of charge use of the Theatre and facilities to local				schools		and
			I'ou s
Kent School of English			Overseas students use the boarding facilities, Classrooms, Swimming Pool, Sports Hall and Playing Fields over the Summer					Hall, and
			Easter holidays including evening entertainment		with		other	local
			children
Puddleducks			A local swim school for toddlers and babies use		the swimming			pool
			weekly
Deal Guide Group			Use ofthe school minibuses during holiday periods for			excursions			to
			aide financially deprived attendees
Space Radio Club			Wellesley is a STEM Hub School and hosts the club for schools				visiting
Governorship	at local school		Two members of staff are on the governing body of				local primary
			schools
School Nurses'	Meeting		Wellesley hosts meetings for local schools to visit		to share information
			and practices
Leavers Programme			Block 1 leavers undertake community service during their final term
East Kent College			Allocated emergency evacuation centre
Sporting	Swimming	Pool Over the years, use by local primary		schools,	swimming
Links			coachin and scuba club for outside	rou s
	Cricket		Outside coaching has been provided	to local	children
			The School hosted the Kent County	under	eleven		fixtures		and
			other under eleven and under twelve	competitions			and matches
			between local clubs
Music	School Choir		The School Choir was ver roactive	includin	erformances				at:
			Harvest Distribution

		Notes	Unrestricted	Restricted	Total	Total
			funds E	funds F	2020 E	2019f
INCOME FROM
Donations and legacies
Grants and donations receivable			25,405	22,240	47,645	29,651
Charitable Activities
Fees receivable			1,372,698		1,372,698	1,677,042
Registration fees and extra-curricular	income		160,449		160,449	290,406
Government grants - coronavirus job	retention		141,825		141,825
scheme
Investments			16,300		16,300	118,112
Other income			27,500		27,500
Total income			1,744,177	22,240	1,766,417	2,115,211
TOTAL EXPENDITURE ON
Raising funds			47,773		47,773	47,674
Charitable Activities
Provision ofeducation
Teaching costs			1,310,603		1,310,603	1,363,947
Welfare			269,155	10,421	279,576	304,932
Premises			231,194		231,194	249,464
Support costs ofschooling			664,887		664,887	540,699
Total expenditure		5,7	2,523,612	10,421	2,534,033	2,506,716
Net (expenditure)/income			(779,435)	11,819	(767,616)	(391,505)
Gain on revaluation ofassets			125,000		125,000	210,000
Net movement in funds			(654,435)	11,819	(642,616)	(181,505)
Balances brought forward at 1 September 2019			6,274,497		6,274,497	6,456,002
Balances carried forward at 31 August	2020		5,620,062	11,819	5,631,881	6,274,497

			Note		2020		2019
Fixed assets
Tangible assets					6,503,698		6,742,807
Current assets
Assets held for sale				425,000		810,000
Stock				9,551		6,774
Debtors			10	87,600		172,619
Cash at bank and	in	hand		111,483		106,685
				633,634		1,096,078
Creditors: amounts		falling		(1,457,806)		(1,564,388)
due within one year
Net current (liabilities)l					(824,172)		(468,310)
assets
Total assets less	current
liabililites					5,679,526		6,274,497
Creditors: amounts		falling
due after one year
Bank loan					(47,645)
Net assets					5,631,881		6,274,497
Total funds
Restricted					11,819
Unrestricted					5,620,062		6,274,497
			1213		5,631,881		6,274,497

					Notes	2020		2019	2019
								E
Cash flows from operating	activities:
Net cash used in operating	activities				14		(661,545)		(251,806)
Cash flows from investing	activities:
Proceeds from the sale of property, plant		and equipment				837,500
Purchase of property, plant	and equipment					(149,734)		(253,770)
Interest received Interest paid Net cash provided by I (used in) investing			activities			1,516 25,063	664,219	7,842 ~23,136	(269,065)
Cash flows from financing	activities:
Cash inflows from new borrowing						198,014		273,848
Repayment oflong term bank loan						(42,500)		(42,500)
Net cash provided byl (used in) financing			activities				155,514		231,348
Change in cash and cash	equivalents	in the reporting		period			158,192		(289,523)
Cash and cash equivalents	at the beginning ofthe period						(46,709)		242,814
Cash and cash equivalents	at the end	ofthe period			(see below)		111,483		(46,709)
Anal sis ofcash and cash	e uivalents						2020		2019
							E		6
Cash in hand							111,483		106,685
Overdraft facility									~(163,394
							111,483		(46,709)

1	Fees receiv	able
						2020	2019
						F
	Fees receivable consist of:
	Gross fees					1,753,905	2,036,300
	Less: Bursaries					(391,629)	(380,493)
						1,362,277	1,655,807
	Add back: Bursaries		paid for by	specific funds		10,421	21,236
						1,372,698	1,677,043
2	Grants and	donations
						2020	2019
						F
	Donations					47,645	29,651
	Government	grants - coronavirus		job retention	scheme	141,825	0
						189,470	29,651
3	Investment	income				2020	2019
						F
	Rents and lettings					14,782	110,270
	Interest receivable					1,517	7,842
						16,299	118,112
4	Cost of raising funds
						2020	2019
						F
	Marketing					22,711	24,539
	Interest payable					25,062	23,136
						47,773	47,675

5	Total expenditure
	Total expenditure includes:
	Auditors' remuneration	for audit services			10,257	12,210
	Auditors' remuneration	for other services			750	750
	Operating lease payments				5,482	5,482
	Depreciation				88,841	85,950
6	Employees
					2020	2019
					F
	Staff costs during the	year:
	Wages and salaries				1,388,432	1,347,155
	Social security costs				118,217	116,338
	Other pension costs				205,525	156,724
					1,712,174	1,620,217
	The average number	ofemployees	in the year:		Number	Number
	Teaching staff				28	27
	Non teaching staff				39	41
					67	68
	The number ofstaff whose emoluments			plus taxable benefits exceeded F60,000were as follows:
	F80,000 - F90,000
					2020	2019
	Pensions paid on behalf of this employee			in the year totalled:	19,370	13,184
					2020	2019
					F
	Aggregate emoluments	of key management			160,268	150,981
	personnel

7	Analysis ofexpenditure	Analysis ofexpenditure	(2019)
				Staff	Other		Total
				costs	costs	Depreciation	2019
				f.	F	f.	f.
	Raising funds				47,674		47,674
	Teaching costs			1,093,484	266,354	4,109	1,363,947
	Welfare			200,360	104,572		304,932
	Premises			97,428	80,713	71,323	249,464
	Support costs ofschooling			228,944	301,238	10,517	540,699
				1,620,216	800,551	85,949	2,506,716
8	Tangible fixed assets				Freehold		Fixtures	Total
					land &	Motor	fittings &	2020
					buildings	vehicles	equipment etc
	Cost or valuation
	1 September 2019				6,664,411	92,771	891,603	7,648,785
	Additions				108,100		41,634	149,734
	Disposal
	Transfer to assets	held for sale			(300,000)			(300,000)
	31August 2020				6,472,511	92,771	933,237	7,498,519
	Depreciation
	1 September 2019				211,114	87,062	607,803	905,979
	Charge for the year				33,288	2,854	52,699	88,841
	Disposals
	31August 2020				244,402	89,916	660,502	994,820
	Net book value
	31 August 2020				6,228,109	2,855	272,734	6,503,698
	31 August 2019				6,453,297	5,709	283,801	6,742,807
9	Current asset investments					2020		2019
						F
	Brought forward					810,000
	Additions (transfers	from fixed assets)				300,000		600,000
	Gain on reclassification					125,000		210,000
	Disposals					(810,000)
	Carry forward					425,000		810,000

10	Debtors	Debtors
							2020	2019
							F
	Due within		one		year:
	Trade	debtors					36,750	133,892
	Prepayments			and accrued income			50,850	38,727
							87,600	172,619
11	Creditors		falling due within one year
							2020	2019
	Amounts		falling		due within	one year:
	Bank	overdraft						153,394
	Fees	received			in advance		190,434	267,225
	Bank	loan					944,845	836,973
	Other	creditors			and accruals		322,527	306,796
							1,457,806	1,564,388
	Creditors		falling due over one year
							2020	2019
	Bank	loan					47,645
							47,645
	Bank	loans are			analysed	as follows:	2020	2019
							F
	Over	five	years				7,904
	Within	two to five years					30,175
	Within	one to		two years			9,566
	Within	one year					944,845	836,973
							992,490	836,973

12	Funds
					At	Income	Expenditure	Transferal	At
					1 September			Valuations	31 August
					2019				2020
	Restricted
	Bursary Appeal		Fund			22,240	(10,421)		11,819
	Other Donations
						22,240	(10,421)		11,819
	Unrestricted	Funds
	General				6,148,711	1,743,914	(2,519,565)	125,000	5,498,060
	Desi nated	Funds
	Bursary Appeal		Fund		8,940	263			9,203
	Swire				60,740		(2,914)		57,826
	Bursary Fund		-Swire		54,973				54,973
	Foundation	(Capital		Fund) -Small assets	1 133		(1,133)
					6,274,497	1,744,177	(2,523,612)	125,000	5,620,062
	Total unrestricted			funds
					6,274,497	1,766,417	(2,534,033)	125,000	5,631,881
	Total funds

Funds (20	19)
					At	Income	Expenditure	Transferal	At
					1 September			Valuations	31 August
					2018				2019
Restricted
Bursary Appeal		Fund				18,168	(18,168)
Other Donations					1,498		(1,498)
					1,498	18,168	(19,666)
Unrestricted	Funds
General					6,323,702	2,091,827	(2,476,818)	210,000	6,148,711
Desi nated	Funds
Bursary Appeal		Fund			3,724	5,216			8,940
Swire					63,654		(2,914)		60,740
Bursary Fund		-Swire			58,041		(3,068)		54,973
Foundation	(Capital		Fund)-Small	assets	5,383		(4,250)		1 133
					6,454,504	2,097,043	(2,487,050)	210,000	6,274,497
Total unrestricted			funds
Total funds					6,456,002	2,115,211	(2,506,716)	210,000	6,274,497

13	Analysis of net asse	ts	betw	een funds
					Unrestricted	Restricted	Total	Total
					2020	2020	2020	2019
	Tangible fixed assets				6,503,698		6,503,698	6,742,807
	Current (liabilities)/assets				(835,991)	11,819	(824,172)	(468,310)
	Long term liabilities				(47,645)		(47,645)
					5,620,062	11,819	5,631,881	6,274,497
	Analysis of net assets between funds (2019)
					Unrestricted	Restricted	Total
					2019	2019	2019
	Tangible fixed assets				6,742,807		6,742,807
	Current (liabilities)/assets				(468,310)		(468,310)
	Long term liabilities
					6,274,497		6,274,497
14	Reconciliation ofoperating			deficit to net cash used	in operating activities
						2020		2019
	Net income/(expenditure)					(767,616)		(391,505)
	Interest receivable					(1,516)		(7,842)
	Interest payable					25,063		23,136
	Profit on disposal ofassets					(27,500)
	Depreciation charges					88,841		85,950
	Increase in stock					(2,777)		2,670
	(Increase)/decrease	in	debtors			85,019		52,291
	Increase/(decrease)	in	creditors			(61,060)		(16,507)
	Net cash used in operating			activities		(661,545)		(251,808)
15	Analysis ofchanges		in net	debt
					As at1 September 2019	Cash flows	Other non- cash changes	As at 31 August 2020
	Cash and cash equivalents
	Cash				106,685	4,798		111,483
	Overdrafts				(153,394)	153,394
					(46,709)	158,192		111,483
	Borrowings
	Loans falling due within		one year		(836,973)	(107,869)		(944,842)
	Loans falling due over one year					(47,645)		(47,645)
					(883,682)	2,678		(881,004)

		2020	2019
Other	leases:	f.	f.
Within	1 year	5,482	5,482
Between 2 and 5 years			5,482
		5,482	10,964

19	Comparative information	Comparative information
			Unrestricted	Restricted	Total
			funds	funds	2019
			f.	f.	f.
	INCOME FROM
	Donations and legacies
	Grants and donations	receivable	29,651		29,651
	Charitable Activities
	Fees receivable		1,658,874	18,168	1,677,042
	Registration fees and	extra-curricular	290,406		290,406
	income
	Investments		118,112		118,112
	Other
	Total income		2,097,043	18,168	2,115,211
	EXPENDITURE ON
	Raising funds		47,674		47,674
	Charitable Activities
	Provision ofeducation
	Teaching costs		1,363,947		1,363,947
	Welfare		286,764	18,168	304,932
	Premises		247,966	1,498	249,464
	Support costs ofschooling		540,699		540,699
	Total expenditure		2,487,050	19,666	2,506,716
	Net gains on investments
	Net income		(390,007)	(1,498)	(391,505)
	Gain on revaluation ofassets		210,000		210,000
	Net movement in funds		(180,007)	(1,498)	(181,505)
	Funds brought forward	at 1
	September 2018		6,454,504	1,498	6,456,002
	Funds carried forward	at 31 August
	2019		6,274,497		6,274,497