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2021-08-31-accounts

COMPANY NUMBER: 00733991 CHARITY NUMBER: 307915

GOVERNORS' REPORT, STRATEGIC REPORT AND FINANCIAL STATEMENTS FOR BICKLEY PARK SCHOOL LIMITED

(LIMITED BY GUARANTEE)

FOR THE YEAR ENDED 31 AUGUST 2021

BICKLEY PARK SCHOOL LIMITED

(LIMITED BY GUARANTEE)

CONTENTS

PAGE
Legal and Administrative Information 1
Governors' Report (incorporating the Strategic Report) 2 - 11
Statement of Governors' Responsibilities 12
Report of the Independent Auditors 13 - 16
Statement of Financial Activities 17
Balance Sheet 18
Cashflow Statement 19
Notes to the Financial Statements 20 - 29

BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Governors M Hansra (Chairman)
J Carpenter BA (Deputy Chairman)
P C Almond
B Charles - appointed 22 June 2021
A M Drew BA MBA
G Nuijens BA
D Percival
J Priory
J S Tiley FCA
Head P Wenham
Secretary and Bursar D Faries - appointed 10 March 2021
Company number 00733991
Charity number 307915
Principal address Bickley Park School
24 Page Heath Lane
Bromley
Kent
BR1 2DS
Registered office The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
Auditors TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
Bankers National Westminster Bank plc
143 High Street
Bromley
Kent
BR1 1YZ

Page 1

BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) GOVERNORS' REPORT (INCORPORATING THE STRATEGIC REPORT)

The Governors of Bickley Park School (who are also the Directors of the Company for the purposes of company law), present their Annual Report and Accounts for the Year Ended 31 August 2021 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the Charities Statement of Recommended Practice ("Charities SORP") (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK: FRS 102) issued in October 2019.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The company is a charity, governed by its Memorandum and Articles of Association. Membership of the governing body is reviewed regularly and is refreshed by the appointment of new governors, normally comprising ex-parents who are interested in developing the School, together with academics able to offer particular expertise to the School. New governors are chosen for their experience in relevant fields and where necessary are given guidance in their duties and responsibilities.

The Governing Body meets as a full Board each term and delegates particular tasks to a range of committees covering inter alia, Finance, Building and Safety (including Safeguarding and Risk Management), Development and Future Planning, Marketing, Education and Curriculum.

The Risk Management Sub-Committee regularly assesses and documents key and major risks to which the School may be exposed. The Governors are satisfied that systems and procedures are in place to manage exposure to the major risks, whilst recognising that these can only provide reasonable but not absolute assurance that major risks are being adequately managed.

Governing Body:

Bickley Park School is a charity operated through a company limited by guarantee. Legal and administrative information is set out at the front of these financial statements. The governors, who are also directors for the purposes of company law, and who served during the period were:

M S Hansra (Chairman) J Carpenter BA (Deputy Chairman) J S Tiley FCA P C Almond J Priory BA B Grindlay MA Cantab MusB FRCO CHM (Resigned 22 June 2021) A Drew G Nuijens D Percival E Will (Resigned 22 July 2021) B Charles (Appointed 22 June 2021)

Page 2

BICKLEY PARK SCHOOL LIMITED

(LIMITED BY GUARANTEE) GOVERNORS' REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED

None of the Governors has any beneficial interest in the company. Each Governor makes an annual declaration of any conflict of interest in addition to one for each meeting attended. All Governors are members of the company and guarantee to contribute £1 in the event of a winding up.

The Governors determine the general policies and strategic direction of the School. The day-today management is delegated to the Head, Mr Patrick Wenham (retired January 2022) and now Tammy Howard (appointed January 2022), supported by Mr Nigel Wood (Bursar - retired in April 2021) and Mr David Faries (Bursar - took up his post in January 2021), and the Senior Leadership Team.

Investment powers are governed by the Memorandum and Articles of Association, which place no restriction on the nature of investments that may be made. During the period, the School received income of £31,044 from other trading activities (including rent) and £89 bank interest from cash deposit, totalling £31,133 (2020: £36,665).

Governor Training and Induction:

All individuals considered as potential Governors are invited to the School for a discussion with the Head and the Chairman prior to being proposed at a full Board meeting. They are also given comprehensive information about the charity and their responsibilities. In addition to attending governance meetings, all Governors are expected to spend some time at the School each year to ensure they fully understand the workings of the school. Post-election induction is carried out by the Bursar and Safe-Guarding training is completed on-line.

Each year all Governors are assessed for their training requirements and it is the policy of the Trust to offer training courses either internally or externally as deemed appropriate. A log of all training given is maintained by the Bursar.

Overview

The Governors recognise their accountability across a number of areas, summarised as follows:

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BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) GOVERNORS' REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED

Organisation and Management

The governance structure for the School's Governing Body is represented below (all meetings are chaired by a governor unless declared below):

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BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) GOVERNORS' REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED

All Governors attend the Main Board and those not serving Heads are members of at least one sub-committee. All committees report back formally to the Main Board meetings.

The Governors determine the general Strategic Policy of the School, which is reviewed at least annually (supported by the strategy working group convening more frequently as required). The day-to-day management and operation of the School is delegated to the Head and the Bursar, supported by the SLT.

OBJECTIVES AND ACTIVITIES Charitable Objects

Bickley Park School is a leading selective independent day school whose vision is to deliver a world-class preparatory school for boys, thereby providing a strong foundation for a successful springboard to future schools. The School's objective, set out in the Memorandum and Articles of Association, is to promote the cause of education generally. This is achieved by a well-managed operation of the School in providing education for boys and girls up to the age of 4, and then boys through to the age of 13+, preparing them for examinations to senior independent schools and to gain the highest academic levels. The targets of the School are achieved within a competitive fee structure that rigorously maintains financial viability. The School ended the year with 403 pupils.

In meeting these objectives, the School's public benefit aim is to provide a highly regarded education tailored to how boys learn and aimed at motivating them to achieve. The School delivers a balanced, challenging and high quality curriculum that arms boys with the skills and attributes to thrive in their later lives as individuals and global citizens. The educational experience encompasses academic teaching and development of wider sporting, artistic and social skills where each pupil can fulfil their potential, gain the right sort of confidence and the ability to communicate effectively and empathetically with others.

In addition, the School’s policy demands close attention to pupils' pastoral development throughout their stay at the School, with an intended aim of sharing common values including kindness, honesty, respect, integrity and resilience.

The Board of Governors, under the direction and support of the Head, encourages all staff to achieve their maximum potential. This is done by investing in the staff's future, not only by the means of training and salary, but also by promoting their professional development and engagement in the achievement of excellence in all school activities.

Having no outside endowments, the School meets all bursary needs from funds derived from ongoing activities. The Governors have authorised the Head to allocate up to 3% of fee income for deserving cases which must be validated and approved by the Chairman of Governors. The bursarial proportion of fees may be exceeded temporarily subject to Board approval.

Page 5

BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) GOVERNORS' REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED

The School site is regularly used by a range of local community organisations either for no charge, or a minimal charge. These include a range of sports clubs, music groups, drama clubs and a local state school who use the swimming pool and are provided with swimming tuition. Despite COVID regulations restricting access to the School during part of the year, the facilities remain a valuable and much appreciated resource to the local community.

In the furtherance of these aims, the School's Governors, as the charity trustees, have considered the Charity Commission's guidance on public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Inspection

The School last received a full inspection by ISI between 19[th] and 22[nd] May 2015. The conclusions reached by the inspectors was that Bickley Park School was assessed as Outstanding or Excellent against a vast majority of criteria, most notably the Early Years provisioning which was marked as Outstanding. The Governors are pleased with the outcome and are satisfied that actions continue to be taken to further increase and improve provision across the entire school.

The School was also subjected to a Compliance Inspection in May 2018, securing compliance in all areas. A survey undertaken during the inspection indicated extremely strong support from the parent body. The average support for the school was 97%. The Lead Inspector stated that results were the “strongest set of data he had seen in all the schools he has inspected” .

Volunteers

Bickley Park School Association (BPSA), a committed parents' association, have given great support and assistance to the School through fundraising and other activities to the extent of more than 1,000 hours of voluntary service during the year. Significant contributions of funds have been made to school projects and new pledges of support are readily forthcoming for new projects. The Governors would like to take this opportunity to record their appreciation of this continuing and valuable support of the School.

STRATEGIC REPORT

Achievements and Performance

In common with the entire educational sector, the School continued to face significant challenges presented by the COVID pandemic and the first lockdown period. Ensuring the delivery of a highquality educational provision, whilst ensuring pupil and staff wellbeing, remained a prime objective. The School’s professional, personal and consistent approach, aiming to inspire confidence and engage with the parent body and wider community, has been much appreciated.

Remote provisioning facilities via BPS@home/BPS@school (including Key Worker School) implemented in 2020 were relied upon during periods of lockdown and for those pupils unable to attend the School in person. Whilst this placed a significant added workload on the School’s operations, all staff responded magnificently to deliver a solid learning platforms for boys.

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BICKLEY PARK SCHOOL LIMITED

(LIMITED BY GUARANTEE) GOVERNORS' REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED

During periods of partial return to school, some events, which would normally take place in the second half of the summer term, were pared back to free up time for lost teaching time and retrain pupils into good working habits. Parental support remained constant and has been invaluable in engendering a close partnership model during a difficult time for all. The School recognises the additional burden on parents of younger children requiring support with remote lessons.

Despite the challenges experienced, the School, building on the strong foundation of recent years, has enjoyed another successful year, achieving a consistent surplus and continues to gain excellent academic results.

The Governors are delighted that, despite the upheaval to education and learning during the year, strong results were achieved by boys at 10+, 11+ and 13+. Success in exams is a combination of teacher input and pupil commitment and the results evidence the quality of teaching and learning during a challenging period for schools. Eighteen 13+ Independent Day School scholarships were awarded to a cohort of 15 boys with the majority of leavers gaining places at their first-choice senior school: half Y8 achieved academic scholarships to selective schools. At 11+/10+, one allrounder and four sport scholarships were awarded.

Sport continues to play an important part in School life, with good achievements for School teams on the rugby, football and cricket field. In addition to the major team sports, boys have been involved in cross-country, athletics, fencing, swimming, golf, cycling, tennis, hockey, basketball, badminton, squash, table tennis and taekwondo. The School’s longstanding association with the local cricket club, and on-site facilities, provide pupils an environment to explore and extend their sporting credentials, albeit this was restricted by the impact of COVID.

Following the successful visit of four talented cricketers from a leading academy in India in early 2019 and the School reciprocating by sending four Bickley Boys on a cricket and cultural tour to India in December 2019, it is anticipated that this will be re-instigated in 2022, provided there is no further prohibition due to COVID. The success of these events, and the intention to establish this as an annual programme, has proved to be an excellent catalyst for broadening the horizons of current pupils and increasing interest from prospective parents.

The School’s community engagement continued with a variety of challenges and quiz nights, conducted remotely as appropriate. Outreach projects supported gifts being sent to local care homes, donations to food banks and NHS charities, together with iPads donated to support staff at a local hospital.

The Governors remain delighted with the positive and considered manner with which the Head has been developing the school and enthusiastic support from the entire staff and school community. The on-going transformation programme, which has a clear mandate from the Board, continues to deliver progressive and much needed change to meet the School’s Strategic Vision.

Page 7

BICKLEY PARK SCHOOL LIMITED

(LIMITED BY GUARANTEE) GOVERNORS' REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED

The Strategic Development Plan is reviewed and updated regularly and continues to be implemented across a broad range of areas, including the introduction of new facilities, or the upgrading of existing operations, such as the new state of the art Science Block. The School's digital strategy continues to prove a great success, with both pupils and parents seeing the benefits. The Governors too have experienced at first hand the use and benefits “Digital” in the Annual financial budgets are set and monitored regularly throughout the year. In the year 2020/21, the generated net income (prior to refurbishment costs) exceeded budget: a result that continues the trend over recent years which, in light of the COVID challenges, the Governors view as highly satisfactory.

Financial Review

Incoming resources for the year were £5,216,399 (2020: £5,022,635). This increase compares favourably to prior years and is further evidence of encouraging pupil number growth during a period of economic and public health uncertainty. The Governors approved a fee discounted during the COVID lockdown period in recognition of the adverse effect on educational provision, steps which were welcomed by the parent body. Judicious financial management during the year allowed the School to continue to offer a high-quality independent education and to invest in its strategic development programme.

Resources expended increased by 8.6% to £4,713,452 (2020: £4,341,613), due mainly to reduced infrastructure development activity and prudent cost and contract management.

The overall net surplus for the year was £502,947, down by 43% (2020: £879,307). This is due in a large part to an investment gain from a revalued property let at a commercial rate recorded in 2020, without which the decrease would stand at 26%.

The total unrestricted reserves carried forward at 31 August 2021 was £8,017,184.

Annual financial budgets are monitored regularly throughout the year. In the year under review, the generated net income exceeded budget: a result that the Governors view as satisfactory, given the extraordinary challenged faced.

In the event of a significant drop in funding the Governors would consider the options available to them for raising additional funds: this would include reviewing whether or not any of the School's tangible fixed assets could be disposed of in order to release funds.

Senior Management Pay

Senior management remuneration is benchmarked against established teacher pay scales and is subject to meeting performance criteria set one year in advance. The remuneration levels for the Head, Bursar and Senior Management are also benchmarked against established criteria, including data from IAPS and AGBIS.

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BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) GOVERNORS' REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED

All senior staff members have an annual appraisal review with their line manager where performance targets are discussed and new targets set.

Prior to any award being made to the Head or Bursar, the Finance Committee will make a recommendation for main Board approval.

Plans for Future Periods

The Head, under the supervision of the Board, continues to deliver the agreed development plan for the School, targeting delivery of a number of projects over the course of the next three years. The aim is to create a world-class boy-friendly environment that educates and nurtures boys through their formative educational years in preparation for entry to senior schools.

The Head, Patrick Wenham, had previously indicated his intention to step down at the end of the Autumn Term 2021 to pursue new interests. At the time of Patrick’s departure, the School will have enjoyed 8 years of highly regarded and inspirational leadership, for which he to be commended. The Board would like to place on record its heartfelt appreciation to Patrick for all he has achieved at Bickley Park School and his leadership. Having concluded a successful recruitment process by appointing a new, experienced Head, the Board are delighted that Tammy Howard will take up post in January 2022, by which time a comprehensive handover will have taken place.

The Bursar, Nigel Wood stepped down in April 2021, having contributed significantly to the School’s transformation over recent years and fulfilling a valued role as Clerk to the Governors. The new Bursar, David Faries, took up post in January 2021.

Development projects, and other key initiatives, will continue to be supported by the Governors, who remain fully engaged in the assessment and planning stages and are mindful of retaining a sound financial management ethos. Due focus will be given to ongoing issues arising from COVID, with particular attention being applied to pupil and staff wellbeing and to the provision of highquality education.

The Governors, being aware that the future development of Bickley Park School must be of benefit to all pupils, review the Strategic Development Plan regularly, including the educational and supporting facilities of the charity, providing strong support and direction to the Head and Senior Leadership Team.

Improvements in marketing and engagement, with a strong parent contingent who promote the School, has resulted in significant interest from parents wishing to visit and enrol. Governors continue to see consistent reliable evidence of healthy and sustainable pupil numbers, secured via the “bottom-up approach” pursued by the Head.

The School intends to continue to enhance the excellent links already gained with other local independent and state schools. In addition, access to the community will be maintained through the provision of means-tested bursaries and the offer of the use of the School's facilities for educational and recreational purposes.

Page 9

GOVERNORS' REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED

BICKLEY PARK SCHOOL LIMITED

(LIMITED BY GUARANTEE)

Principal Risks and Uncertainties

The Governors are responsible for the management of the risks faced by the School. Risks are identified, assessed regularly and controls established throughout the year (the Risk SubCommittee meets each term), and a formal review of the charity’s risk management processes is undertaken on an annual basis.

The key controls used by the charity include:

Through the risk management processes established for the School, the Governors are satisfied that any major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. The Governors and the School’s management team have implemented strategies and controls to monitor and manage the risks identified.

Risk Management

The School maintains a comprehensive risk register, which identifies the principal risks, together with the steps to be taken to manage them. Each risk is categorised as financial, health and safety, compliance, operational or buildings: the key strategic risk is non-compliance or breach of legal/statutory responsibilities leading to loss of confidence in the school and risk to investment. The key operational risk is the loss of key resources, both staff and financial. During the reporting period, there were no fundamental issues raised as a result of reviewing and operating this risk register. Governors formally review the risk register each term, with key risks assessed each term at the relevant committees.

The School continued to develop its business policies during 2020-21 through its Finance and General Purpose sub-committee, with changes endorsed at Board level. The necessary business protection, human resources and financial policies continue to be in place (and are regularly reviewed and updated as required), as are the School’s Safeguarding policies.

RESERVES POLICY

It is the policy of the School that its financial affairs are managed soundly and within the confines of a budget that is approved by the Governors. The nature of the School’s activities determines that reserves fund the property and other net assets, and are held to cover unexpected shortfalls in income.

The Governors consider that, in the event of a significant drop in short term funding, they will be able to continue the School’s activities while consideration is given to ways in which additional funds may be raised.

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BICKLEY PARK SCHOOL LIMITED

(LIMITED BY GUARANTEE) GOVERNORS' REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED

AUDITORS

A resolution proposing that TC Group be reappointed as auditors of the company will be put to the Annual General Meeting.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the Governors has confirmed that there is no information relevant to the audit of which they are aware, but of which the auditors are unaware. They have further confirmed that they have taken appropriate steps to identify such information and to establish that the auditors are aware of it.

On behalf of the Board of Governors

M S Hansra (Chairman) Chair of Governors Dated:25 April 2022

Page 11

(LIMITED BY GUARANTEE) STATEMENT OF GOVERNORS' RESPONSIBILITIES

BICKLEY PARK SCHOOL LIMITED

The Governors, who are also the directors for the purposes of company law, are responsible for preparing the Governors' Report (including the Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard in the UK and Republic of Ireland'.

Company law requires the governors to prepare financial statements for each financial year which give a true and fair view of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements the governors are required to:

The Governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 12

BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

We have audited the financial statements of Bickley Park School Limited (the 'charitable company') for the year ended 31 August 2021 which compromise the Statement of Financial Activities, the Balance Sheet, the Cashflow Statement and notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, and we have fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the governor’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorized for issue.

Our responsibilities and the responsibilities of the governor’s with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the governor’s report, other than the financial statements and our auditor's report thereon. The governors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of governors

As explained more fully in the governors' responsibilities statement, the governors (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the governors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the governors are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

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BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

(LIMITED BY GUARANTEE)

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance 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. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

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 auditors' report and for the 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 the charitable company's members, as a body, for our audit work, or for the opinions we have formed.

Mark Cummins FCCA (Senior Statutory Auditor) for and on behalf of TC Group Statutory Auditors Office: Sussex

Date: 13 May 2022

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BICKLEY PARK SCHOOL LIMITED

(LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021

----- Start of picture text -----
Notes Total Total
2021 2020
£ £
INCOME FROM:
Other trading activities 6 31,044 34,967
Investments 7 89 1,698
Charitable activities 8 5,185,266 4,985,970
Total income 5,216,399 5,022,635
EXPENDITURE ON:
Raising funds 11,242 16,454
Charitable activities 4,702,210 4,325,159
Total expenditure 9 4,713,452 4,341,613
Net gains/(losses) on Investments 19 - 198,285
Net income 502,947 879,307
Fund balances brought forward 7,514,237 6,634,930
Fund balances carried forward 8,017,184 7,514,237
----- End of picture text -----

All income and gains for the year are recognised above. All of the charity's activities are classed as continuing. The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

All of the school's funds are unrestricted.

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BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 AUGUST 2021

Company Number

00733991

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Notes 2021 2020
£ £ £ £
FIXED ASSETS
Tangible fixed assets 11 7,203,057 7,126,949
Investments 19 725,000 725,000
CURRENT ASSETS
Debtors 12 67,792 123,405
Cash at bank and in hand 1,691,276 1,197,270
1,759,068 1,320,676
CURRENT LIABILITIES
Creditors due within one year 13 (1,481,606) (1,422,631)
NET CURRENT ASSETS/(LIABILITIES) 277,462 (101,955)
TOTAL ASSETS LESS CURRENT LIABILITIES 8,205,519 7,749,993
LONG TERM LIABILITIES
Creditors due after one year 14 (188,335) (235,756)
NET ASSETS 8,017,184 7,514,237
REPRESENTED BY:
Unrestricted general funds 8,017,184 7,514,237
8,017,184 7,514,237
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The accounts were approved by the board and signed on their behalf by:

………………………………………………… M S Hansra (Chairman)

Date: 25 April 2022

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BICKLEY PARK SCHOOL LIMITED

(LIMITED BY GUARANTEE)

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 AUGUST 2021

----- Start of picture text -----
Notes 2021 2020
£ £ £ £
Cash flows from operating activities:
Net income for the year 502,947 879,307
Adjustments for:
Depreciation charges 11 25,570 32,108
Investment gain 19 - (198,285)
Dividends, interest and rents from investments 7 (89) (1,698)
-
(Profit) from sale of tangible fixed assets 3,459
Decrease in debtors 55,613 30,105
Increase/(decrease) in creditors 58,974 (255,952)
Net cash provided by/(used in) operating activities 646,474 485,585
Cash flows from investing activities:
Dividends, interest and rents from investments 7 89 1,698
Purchase of tangible fixed assets 11 (105,137) (121,244)
Net cash provided by/(used in) investing activities (105,048) (119,546)
Cash flows from financing activities:
Repayments of borrowing (47,420) (40,623)
Net cash provided by/(used in) financing activities (47,420) (40,623)
Change in cash and cash equivalents in the year 494,006 325,416
Cash and cash equivalents at the beginning of the year 1,197,270 871,854
Cash and cash equivalents at the end of the year 1,691,276 1,197,270
Analysis of cash and cash equivalents
Cash at bank and in hand 1,114,414 620,498
Notice deposits (less than 30 days) 515,986 525,550
Notice deposits (more than 30 days) 60,876 51,223
Total cash and cash equivalents 1,691,276 1,197,270
----- End of picture text -----

Page 19

(LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

BICKLEY PARK SCHOOL LIMITED

1 STATUTORY INFORMATION

The charity is a charitable company, limited by guarantee, registered in England and Wales. The registered office, company number and charity number are detailed in the Legal and Administrative Information.

2 ACCOUNTING POLICIES

2.1 Basis of preparation

The financial statements have been prepared under the Companies Act 2006 and in accordance with the Charities' Statement of Recommended Practice (SORP (FRS102)) and Financial Reporting Standard 102.

The charitable company meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

After reviewing the charity's forecasts and projections, the governors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. This takes into account any known impact of the COVID - 19 pandemic.

2.2 Income

Fees receivable and charges for services, less any allowances, scholarships and bursaries granted by the school against those fees are accounted for in the period in which the service is provided. Where fees are received for a future service period they are included in deferred income, including those fees received under an advance fee payment scheme.

Investment income is accounted for on an accruals basis.

Donations, legacies, grants and other voluntary income are accounted for as and when entitlement arises, the amount can be reliably measured and the economic benefit is considered probable.

Where a donor or an appeal has imposed restrictions the income is credited to a restricted fund.

2.3 Expenditure

Expenditure is accounted for on an accruals basis with irrecoverable VAT included with the item to which it relates.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

All costs are allocated between expenditure categories and departments on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly.

Page 20

BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

2.4 Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Freehold land is not depreciated - Freehold buildings Portable buildings over 7 years otherwise not depreciated Fixtures, fittings and equipment - 15% on written down value and 20% on cost Motor vehicles - 20% on written down value

Depreciation is provided on freehold properties based on the difference between book value and estimated residual value charged over the useful life of the properties. The Governors are of the opinion that, having regard to estimated residual values, based on prices prevailing at the dates of acquisition and the estimated useful lives, any depreciation involved, whether annual or cumulative would not be material.

2.5 Leasing and hire purchase commitments

Rentals paid under operating leases are charged against income on a straight line basis over the period of the lease.

2.6 Pensions

Teaching staff are members of the Teachers' Pension Scheme (TPS), a defined benefit scheme administered by the Teachers' Pension Agency. Contributions to the scheme are charged to the Statement of Financial Activities as they fall due. The TPS is an unfunded scheme. Contributions on a 'pay as you go' basis are credited to the exchequer under arrangements governed by the Superannuation Act 1972. Actuarial valuations are carried out on a notional set of investments. Under the definitions set out in FRS 102 the TPS is a multiemployer pension scheme. The charity is unable to identify its share of the underlying (notional) assets and liabilities of the scheme. Accordingly, under FRS 102 the scheme is accounted for as if it were a defined contribution scheme.

The charity also contributes to personal pension schemes for its non-teaching staff.

Page 21

BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

2.7 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments. The governors seek to use short and medium term deposits where possible to maximise the return on monies held at the bank and to manage cash flow.

2.9 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

2.10 Fund accounting

Unrestricted funds comprise those funds which can be used in accordance with the charitable objects at the discretion of the governors.

3 TURNOVER

The turnover of the charity is wholly attributable to the objects of the charity as stated in the Governors' Report and is earned entirely within the UK.

4 NET INCOME/EXPENDITURE

NET INCOME/EXPENDITURE
This is stated after charging: 2021 2020
£ £
Operating lease payments 73,358 85,341
Depreciation 25,570 32,108
Auditors' remuneration - audit services 11,700 11,375
Auditors' remuneration - non-audit services 9,870 9,673

Page 22

BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

5 TAXATION

The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010.

6 INCOME FROM OTHER TRADING ACTIVITIES

Rental income
7 INCOME FROM INVESTMENTS
Interest
8 INCOME FROM CHARITABLE ACTIVITIES
Gross school fees
less bursaries and allowances
less COVID-19 discounts
Net school fees
Add:
Registration fees
Extras income
Before/after school care
Donations
CJRS Grant		 TOTAL
TOTAL
2021
2020
£
£
31,044
34,967
TOTAL
TOTAL
2021
2020
£
£
89
1,698
TOTAL
TOTAL
2021
2020
£
£
5,429,948
5,301,578
(252,258)
(207,002)
(61,041)
(337,598)
5,116,649
4,756,978
7,900
7,899
2,722
36,510
29,950
52,656
26,090
40,000
1,955
91,927
5,185,266
4,985,970

Page 23

(LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

BICKLEY PARK SCHOOL LIMITED

----- Start of picture text -----
9 ANALYSIS OF EXPENDITURE
Staff Depreciation Other Total Total
Costs costs 2021 2020
£ £ £ £ £
Cost of raising funds:
- -
Other trading activities 2,958 2,958 4,090
- -
Financing costs 8,284 8,284 12,364
- -
Total cost of raising funds 11,242 11,242 16,454
Charitable expenditure
Education
Teaching 2,883,480 25,570 287,988 3,197,038 3,088,011
Welfare 68,679 - 340,362 409,041 318,731
Premises 66,144 - 409,723 475,867 391,799
-
Support and governance 433,760 186,504 620,264 526,618
Total charitable expenditure 3,452,064 25,570 1,224,577 4,702,210 4,325,159
Total expenditure 3,452,064 25,570 1,235,819 4,713,452 4,341,613
Analysis of support and governance costs: 2021 2020
£ £
Governance costs:
Auditors remuneration for audit services 12,060 8,988
Total governance costs 12,060 8,988
Support costs:
Auditors' remuneration for non audit services 14,339 12,060
Legal and professional fees relating to support 3,384 15,536
Support staff wages, national insurance and pension 433,760 381,291
Other support costs 156,723 108,744
620,267 526,619
----- End of picture text -----

Page 24

BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

10 STAFF COSTS

The average monthly number of employees during the year was:

----- Start of picture text -----
|||| |---|---|---| |2021|2020| |Number|Number| |Teaching|64|61| |Domestics, gardeners and maintenance|8|7| |Administration|13|14| |85|82|

----- End of picture text -----

The aggregate payroll costs for the year were as follows:

----- Start of picture text -----
|||| |---|---|---| |2021|2020| |£|£| |Wages and salaries|2,795,302|2,714,553| |Social security costs|274,602|250,649| |Pension costs|382,159|361,267| |3,452,063|3,326,469|

----- End of picture text -----

None of the governors received any remuneration or other benefits from the school or any connected body. No Governors (2019: nil) had expenses reimbursed in the amounts detailed in the expenditure note above.

Staff earning in excess of £60,000 per annum in the following bands are:

----- Start of picture text -----
|||| |---|---|---| |2021|2020| |Number|Number| |£60,000 - £69,999|3|4| |£80,000 £89,999|-|1| |£120,000 - £129,999|-|1| |£130,000 - £139,999|1|-|

----- End of picture text -----

Of the employees whose emoluments exceed £60,000, 4 (2020: 5) have retirement benefits accruing under defined benefits schemes . Contributions in the year for those employees amounted to £61,753 (2020: £77,767).

The key management personnel of the school comprise the senior leadership team.

----- Start of picture text -----
|||| |---|---|---| |2021|2020| |£|£| |Aggregate employee benefits of key management personnel|635,498|676,116| |(including pension contributions)|

----- End of picture text -----

Page 25

BICKLEY PARK SCHOOL LIMITED

(LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

----- Start of picture text -----
11 TANGIBLE FIXED ASSETS
Freehold Fixtures & Motor Total
Property Fittings Vehicles
£ £ £ £
Cost
At 1 September 2020 7,159,706 725,304 27,687 7,912,697
Additions 83,972 - 21,165 105,137
- -
Disposals (13,194) (13,194)
At 31 August 2021 7,243,678 725,304 35,658 8,004,640
Depreciation
At 1 September 2020 155,428 613,774 16,546 785,748
-
Charge for year 22,083 3,487 25,570
- -
Disposals (9,735) (9,735)
At 31 August 2021 155,428 635,857 10,298 801,583
Net Book Value
At 31 August 2021 7,088,250 89,447 25,360 7,203,057
At 31 August 2020 7,004,278 111,530 11,141 7,126,949
----- End of picture text -----

Page 26

BICKLEY PARK SCHOOL LIMITED

(LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

12 DEBTORS

Fee debtors
Prepayments and accrued income
13 CREDITORS: due within one year
Bank loans and overdrafts
Trade creditors
Other creditors
Accruals
Fees in Advance
Deposits
Other taxes and social security		 2021
2020
£
£
55,946
112,574
11,846
10,831
67,792
123,405
2021
2020
£
£
52,657
52,657
51,175
43,197
90,369
104,327
47,298
25,721
489,435
372,721
676,823
758,722
73,849
65,286
1,481,606
1,422,631

Fees in advance represent fees received for the Autumn term 2021.

14 CREDITORS: due after one year

Bank loans
15 BANK LOAN SECURITY AND MATURITY
Bank loans are wholly repayable in instalments as follows:
Less than one year
In more than one year but less than two years
In more than two years but less than five years
In more than five years		 2021
2020
£
£
188,335
235,756
188,335
235,756
2021
2020
£
£
52,657
52,657
52,632
52,632
135,703
157,896
-
25,227
240,992
288,413

The bank loan is secured by a charge over the freehold property and other assets of the charity.

The loan matures in July 2025 and has an interest rate of 1.77% above base rate.

Page 27

BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

16 COMMITMENTS UNDER OPERATING LEASES AND CAPITAL COMMITMENTS

At 31 August 2021 the company had total commitments under non-cancellable operating leases payable as follows:

Within one year
Between one and five years
Over five years		 2021
2020
2021
2020
£
£
£
£
39,600
39,600
38,191
17,621
158,400
158,400
151,797
40,583
79,200
118,800
-
-
277,200
316,800
189,988
58,204
Land and Buildings
Other

The school lease for the playing field ends in 2028.

17 PENSION COMMITMENTS

The School participates in the Teachers' Pension Scheme ("the TPS") for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £341,469 (2020: £320,141) and at the year end £nil (2020: £nil) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%.

The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However, the assumptions were considered and set by the Department for Education prior to the ruling in the ‘McCloud/Sargeant case’. This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions including the Teachers’ Pensions.

On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appeal’s judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Court’s decision and has said it will engage fully with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remedied. The government announced on 4 February 2021 that it intends to proceed with a deferred choice underpin under which members will be able to choose either legacy or reformed scheme benefits in respect of their service during the period between 1 April 2015 and 31 March 2022 at the point they become payable.

Page 28

BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

17 PENSION COMMITMENTS (CONTINUED)

The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal’s ruling in the McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020, and a consultation was launched on 24 June on proposed changes to the cost control mechanism following a review by the Government Actuary. The consultation closed to response on 19 August 2021 and the Government is currently analysing the responses.

In view of the above rulings and decisions the assumptions used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario, a valuation prepared in accordance with revised benefits and suitably revised assumptions would yield different results than those contained in the Actuarial Valuation.

Until the cost cap mechanism review is completed it is not possible to conclude on any financial impact or future changes to the contribution rates of the TPS. Accordingly no provision for any additional past benefit pension costs is included in these financial statements.

The school also contributes to defined contribution schemes on behalf of its other staff. Employer contributions payable to these schemes were £40,690 (2020: £36,800) and at the year end £225 (2020: £4,872) was accrued in respect of contributions due to these schemes.

18 SHARE CAPITAL AND CONTROL

The school is limited by guarantee and does not have a share capital. In the event of a winding up each member guarantees to contribute an amount of no more than £1. The board of governors control the school.

19 INVESTMENTS
At the beginning of year
Transfer from tangible fixed assets
Net investment gains/(losses)
At the end of the year		 2021
£
725,000
-
-
725,000		 2020
£
-
526,715
198,285
725,000

The above relates to a freehold property owned by the school, which is now let at a commercial rate. The Governors estimated its market value at the year end was £725,000.

20 RELATED PARTIES

There were no related party transactions during the year (2020: None). Details on governor's expense reimbursements is included in note 10.

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