2020-08-31-accounts - The Ena Makin Educational Trust

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Charity Registration No. 307931 Company Registration No. 865624

THE ENA MAKIN EDUCATIONAL TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

CONTENTS	Pages
Legal and Administrative Information	1
Governors’ Annual Report	3
Independent Auditor’s Report	10
Statement of Financial Activities	12
Balance sheet	13
Statement of Cash Flows	14
Notes to the Financial Statements	15

THE ENA MAKIN EDUCATIONAL TRUST LEGAL AND ADMINISTRATIVE INFORMATION

FOR THE YEAR ENDED 31 AUGUST 2020

Registered office:	The Granville School
	2 Bradbourne Road
	Sevenoaks
	Kent
	TN13 3LJ
Registered Number:	865624 (England and Wales)
Charity Number:	307931 (England and Wales)

The Governors are the Directors of the Ena Makin Educational Trust

The following served as Governors since the start of the year:

Jonathan Sorrell (Chairman until 31st August 2020) Nicole Coll (Chairman from 1[st] September 2020) Rowland Constantine Tamlyn Elrin Margaret Giblin Charlotte Glanville Jane Holland Anna Jobke David Mackenzie Heather Paget-Brown Mwai Odewale Paul Sheldon Velizar Tarashev

During the year and subsequently up to the date of approving the accounts, the following Governors were appointed:

Rowena Bolton (3rd December 2019) David Plowman (on 1 September 2019) Jane Holland (on 7th December 2019) Paul Sheldon (on 7th December 2019) Jonathan Sorrell (on 31[st] August 2020) Dougal Philps (on 31[st] August 2020) Rowland Constantine (on 31[st ] August 2020)

Bridget Ward (12th November 2020) George Brown (12th November 2020) Jackie Thomas (12th November 2020)

During the year, the following Governors resigned:

Auditors: Haysmacintyre LLP 10 Queen Street London EC4R 1AG

THE ENA MAKIN EDUCATIONAL TRUST LEGAL AND ADMINISTRATIVE INFORMATION (Continued)

FOR THE YEAR ENDED 31 AUGUST 2020

Bankers:	Adam & Co
	6 Adelaide Street
	London
	WC2N 4HZ
	National Westminster PLC
	67 High Street
	Sevenoaks
	Kent
	TN13 1LA
	Lloyds Bank PLC
	83 High Street
	Sevenoaks
	TN13 1LG
Contact details:	The Granville School
	2 Bradbourne Park Road
	Sevenoaks
	Kent
	TN13 3LJ
	www.granvilleschool.org
	Registered charity No. 307931

THE ENA MAKIN EDUCATIONAL TRUST GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2020

The governors present their annual report and financial statements for the year ended 31 August 2020.

OBJECTIVES AND ACTIVITIES

The charity's objectives are the advancement of education and the benefit of the public, in particular by the provision and conduct of a day school for boys and girls residing in or near Sevenoaks. In furtherance of this objective, the governors, as charity trustees, have complied with the duty in S.4 of the Charities Act 2006 to have due regard to the Charity Commission’s published general and relevant sub-sector guidance concerning the operation of the Public Benefit requirement under that Act.

EDUCATIONAL AIMS

The School caters for boys in kindergarten from 3 to 4 years old (usually siblings of girls at the schools) and girls from 3 to 11 years of age. The School aims to foster and provide an excellent all-round education to its pupils. This encompasses their academic, social and physical development through its academic curriculum, pastoral care, sporting and other extra-curricular activities. The Granville provides an educational environment where every child can realise his or her true potential by developing knowledge, confidence and self-reliance within a supportive and happy school community.

The Granville School aims to set the highest academic and pastoral standards. Experienced staff identify and develop the full potential and natural talents of each individual child in order to prepare them for a fulfilled, happy and productive life.

To provide exceptional and inspirational teaching across a broad, stimulating and ambitious curriculum where each pupil develops a love for learning, maximises their full potential and gains a place at a senior school where they will continue to thrive
To offer outstanding pastoral care in a school that is safe, healthy and environmentally, culturally and socially aware 3. To offer all the pupils the opportunity to explore and develop their talents in and beyond the academic curriculum through the provision of an outstanding extra-curricular programme
To raise the profile of the Granville as a centre of academic excellence, outstanding personal development and exceptional pastoral care
To optimise the use of the school’s resources including staff, ICT, infrastructure, land and buildings for the benefit of the current and future pupils

Academic

The School’s strategy for achieving high performance is to maintain the high quality of our teaching, through recruitment, CPD and appraisals. Our teacher-to-pupil ratios play and important part in the process of high performance and we tailor our teaching and learning strategies and delivery as appropriate to meet the individual needs of our pupils.

Yet again, the School has been very pleased with its entry examination results.

In the Kent 11+ 8 girls out of eleven girls were offered a place at Tonbridge Grammar School for Girls additionally 3 girls also passed the Bexley 11+ and the Newstead Woods exam. 6 Girls were offered a place at Sevenoaks, (2 with scholarships). A total of 20 scholarships and awards were offered at a number of independent senior schools.

The School’s educational offer is underpinned by a broad curriculum with subject specialist teaching increasing as girls progress through the year groups. A cross curricular approach helps to both widen and embed knowledge. This is supported by initiatives such as Forest School, Growth Mindset principles and the enriched practical experiences of workshops, trips and visits. External venues visited this year included theatres and museums. The children also had visits and workshops from best-selling children’s book authors and poets including Jonny Duddle, Elizabeth Laird and Fleur Hitchcock. The curriculum was also enhanced by theatre and musical workshops, storytellers and history themed workshops.

Testing, standardised assessment and benchmarking helps to assist the School and parents in a thorough understanding of the children’s progress as well as being a very useful tool when considering options for senior schools.

The appointment of an IT assistant has helped develop the use of IT for staff and pupils across the school in all curriculum areas.

THE ENA MAKIN EDUCATIONAL TRUST GOVERNORS’ REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2020

All children are supported to reach their potential including those who find learning a challenge. Learning Development (LD) is a key pillar in the Granville approach. The LD Department provides carefully designed, pupil centric support to ensure that children that require it have the help that they need. Pupils are taught on a 1:1 basis or in small groups.

More able, gifted and talented (MAG&T) provision is also an important part of the Granville approach. MAG&T children are identified and then challenged with a variety of differentiated work, focus activities, clubs and pathways. This ensures that they can realise their potential in the areas in which they excel.

The staff, governors, parents and the girls themselves, are immensely proud of the Granville girls’ achievements. We are always thrilled when their efforts are recognised and even more so when our bright and talented girls gain scholarships and awards to their chosen senior schools. These awards cover areas of the curriculum: academic, music, sport, art and drama.

Pastoral

Every child is known by every teacher in the school. Pupils share worries or concerns with their form tutor. All the girls belong to one of the four Houses, which foster friendly competition and also allows the children, of all ages, to work together with children of other year groups, creating a sense of belonging and community. Through the School Council the children all contribute to the way school works, where their ideas are considered and fed back to the school via School Council assemblies in order that the children feel that their opinions matter.

Pupils achieve their best in an environment which is caring, safe and encouraging. We have a very happy school with a strong family. Our aim is to treat everyone as an individual and to meet their needs so that they flourish as a learner and a member of the school community.

The addition of the School Assisted Dog to the pastoral team positively impacted the children and has made a great marked difference in helping with anxiety, morale and wellbeing amongst both the pupils and the staff.

Co-curricular and Extra-Curricular

Curricular and co-curricular teaching is a key component of Granville life to ensure that each girl reaches her highest level of personal achievement and there are plenty of opportunities to develop new skills whether in or out of the classroom. Our broad and varied curriculum, together with the extensive subject knowledge of our specialist teachers, a wide ranging extracurricular programme and entries into challenging competitions achieves this. National competitions such as Primary Maths Challenge, which is aimed at children in Years 7 and 8 provide great challenge for the more able. Two girls achieved the Gold Award, five girls achieved Silver and eight were awarded Bronze, with seven going through to the Bonus round. The girls in Year 6 participated in the UK Bebras Computational Thinking Challenge. Of the 200,000 participants in the challenge, three girls were placed in the top ten per cent for their age group. Nine of the twenty-two girls who took part gained distinctions. The Granville girls also entered the national Sumdog Maths competition our Year 3 class came first and were the overall winners with 2 girls in the top ten for their individual scores competing against 777 students.

The Year 6 girls took part in the International Primary Latin Project's Mythology Competition, with one pupil winning 1st prize and another 3rd prize in the creative writing category.

Many of our Year 6 girls, complete independent study towards the I.T. iDEA awards. 8 girls completed their Bronze Award and 3 completed their Silver Award. Participation in inter-school events also improves performance and the girls took part in many such events in English, Science, sport and music. One of our pupils won the national Historical Association's Fictional writing competition,

Physical fitness and sport have a very prominent place in the curriculum. There is a full programme of fixtures in a number of sports, where every child in Year 3 to Year 6 competes in inter-school competitions. The number of teams that participate in competitive sport has been increased to ensure that all girls get the opportunity to learn from the experience of winning and losing in the sporting context, with a C and D team tournament organised this year to provide greater opportunity for those teams. The PE curriculum offers many opportunities to participate in a range of sports including netball, cross-country running, gymnastics, ballet, rounders, tennis athletics, lacrosse skills, hockey skills and swimming, all of which are delivered by specialist sports teachers. All pupils have the opportunity to work towards the following awards: BAGA awards for gymnastics, national swimming awards and ballet exams. A full programme of fixtures take place throughout the year.

Music plays a very important role in day-to-day life at The Granville. This includes daily singing in assemblies to elaborate festivals and large-scale performances. Every girl learns the recorder in Year 2 and Year 3 and there are many opportunities for individual lessons in piano and other orchestral instruments from Year 2. More than 90% of pupils in Years 2 to 6 learn an instrument either in or out of school. We have two orchestras, two choirs and numerous chamber groups that allow girls the opportunity to practice and perform significant musical pieces and prepare for their ABRSM music exams where great success is enjoyed. Granville girls thrive on the regular performances we hold outside school with trips to perform in local churches and festivals and include the traditional singing of carols in a local care home and the Carol Concert at St John’s Church.

Drama is another feature of a Granville education. Fundamental to our approach to Drama is that every pupil should have a moment to shine in one of our performances. Our festivals and performances not only provide a showcase for our many talented performers, but they are also a carefully managed opportunity to encourage and build confidence in every pupil. Children from Kindergarten all the way through the school perform publicly. In addition to the Festivals, Kindergarten and Reception children put on a Christmas concert and Nativity respectively and Year 1 and 2 performed the Nutcracker. Year 4 also starred in ‘Seussical the Musical’ a performance extravaganza. Unfortunately, the Year 6 performance of ‘A Midsummer Night’s Dream’ had to be cancelled due to a national lockdown during the COVID-19 pandemic and the girls instead put together a film called, ‘The Show Must Go Online’. Years 1 and 2 also take Entry Level and Grade 1 Choral speaking LAMDA. Year 3 take their individual entry level LAMDA in verse and poetry and Year 4 to Year 6 girls take LAMDA acting classes. 71 girls took their LAMDA examinations. All girls passed, 62 with distinction and 9 with merit.

Forest School lessons are a highlight of the week for pupils from Kindergarten to Year 3 and allows the children to creatively use the woodland that borders the school, whilst challenging themselves physically.

Outside of the classroom we continue to offer an extensive and exciting range of after-school clubs and a full programme of whole-school enrichment activities where pupils broaden and deepen learning experiences and discover new interests and talents, e.g., from the popular Mandarin Club to the long running Puzzle Club. Our pupils also benefit from skilled coaches from external organisations who add value and variety to our sporting offers, including hockey, tennis, gymnastics, multisport, rugby and cricket, the latter both increasing in popularity as girls’ games.

Outreach

The School is keen to support a number of children who would not otherwise be able to benefit from a Granville education through a series of bursaries. This year the value of means tested bursaries totalled £52,010, (2019 £52,889, 7 children) these provided assistance to 5 pupils. The Governors regularly review the Bursary Policy and the advertising of the availability of bursaries to ensure that children from outside the school are able to access means-tested fee assistance. In the current climate Governors are acutely aware of financial hardship of existing parents and aim to approach these cases with a sympathetic approach whilst balancing the essential fairness of a means tested methodology.

Some of the time-honoured traditions are at the heart of a Granville calendar, but this is mixed with a forward-looking stance, equipping pupils for the challenges of modern life. Many pupils are daughters of past pupils who want their children to share in the values and ethos of a Granville education, which, 75 years later, are still relevant. Traditional events such as ‘Stirring the Pudding’ and ‘Spring Festival’ bring the whole school community together. The Granville exudes a genuine sense of family amongst the children, staff and parents.

The Granville has a well-established tradition of supporting many local and national charities which give the children a respect and understanding for the wider community and those less fortunate than themselves or in need. The charities are chosen by the children themselves through the school council, which means they are committed to fund raising and supporting them. This year’s charities have included the Battersea Dogs and Cats Home, Alice’s Arc, NSPCC and Riding for the Disabled. Over £3,000 was raised for these causes.

THE ENA MAKIN EDUCATIONAL TRUST GOVERNORS’ REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2020

School resources

Pupil numbers have been sufficient to allow the school to historically operate with a small surplus whilst investing in modernisation of its facilities, marketing campaigns, the website and further developing the new Forest School.

FUTURE PLANS

These are set out in the strategic objectives identified above. The overall aim of which is to provide an educational environment where every child can realise his or her true potential by developing knowledge, confidence and self-reliance within a supportive and happy school community. The Governors intend to continue to maintain the School’s position in a competitive market by providing a first-class education for our pupils, achieving a high standard of academic results, whilst maintaining the breadth and depth of a broad curriculum and outstanding pastoral care.

These future plans are financed primarily from our reserves and fee income. The Governors ensure robust budgeting and cash flow monitoring are exercised to ensure the school can meet its ongoing educational needs and continue to invest in its estate and facilities. Maintaining and, where necessary, developing the fabric and facilities of the School are central to our strategy and the school will continue to improve its facilities and provisions in the coming years. The Governors are satisfied that the school has sufficient available funds and facilities to meet its strategic objectives.

The Governors review our Bursary Awards policy annually to ensure that local children can accept offers of places at our School through the availability of means-tested fee assistance. The Governors place great importance on the bursary awards to widen access to a Granville education .

OUR FINANCES

The financial statements show net deficit of income and movement in funds for the year on School activities of £(248,861) (2019: £82,330 surplus). The principal source of income is fees accounting for 94.6% (2019: 97.3%) of the School’s income. The Governors are continuing their strategy of deploying all net incoming resources to investing in the educational purposes and facilities of the school.

Reserves and Financial Health

As part of the effective governance of the School, the Governors receive monthly management accounts with a review of finances, budgets, expenditure and variances against budgets together with a monthly cash flow forecast analysis. The Governors have invested substantial sums into new School buildings in recent years and have a continuing programme of refurbishment, development and investment to maintain excellent teaching facilities for our pupils. The closing value of our tangible assets, property, plant and equipment, was £3,431,833 (2018 £3,491,332).

At 31 August 2020, the School’s total funds were £4,681,124, comprised of restricted funds of £21,000 and unrestricted funds of £4,660,124. Net current assets were £1,249,291.

Going Concern

After making appropriate enquiries, the Governors have a reasonable expectation that the School has adequate resources to continue its operations for the foreseeable future. For this reason it continues to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Statement of Accounting Policies.

THE ENA MAKIN EDUCATIONAL TRUST GOVERNORS’ REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governors are appointed as vacancies arise. In making appointments Governors take into account Charity Commission guidance, the depth and breadth of skills and experience required by the school namely in safeguarding; health and safety; a legal background; a financial/accounting background; educational experience; senior managerial or business experience; experience of Human Resources and premises management. Potential candidates who possess the requisite personal and specialist skills are identified, discussed by Governors and invited to become a Governor as appropriate.

The Governors, who are also the charity trustees, determine the general policy of the school. Significant expenditure decisions and major capital projects are referred to the Governors for approval. The day-to-day management of the school is delegated to the Headmistress and the Senior Leadership Team. The Full Board of Governors meet three times a year, with each committee also meeting at least 3 times a year. The Granville School Bursar, who is also Clerk to the Governors, co-ordinates the work of the Board and their Committees, prepares papers and management accounts and the review of matters arising.

The Governors maintain a robust position towards risk with a default attitude of being risk averse. Governors do everything possible to ensure that all risks to which the School is exposed are mitigated to the lowest levels. Governors undergo an induction upon assumption of their role and are provided with relevant training through seminar and online CPD programmes, which includes safeguarding training. A Governor is designated as the safeguarding lead and another as the Health & Safety lead at the Board level providing oversight and an active channel for the School.

The Committees of the Board are the Finance committee responsible for oversight of matters of finance, statutory financial compliance and financial policy, this committee will recommend the approval of the annual budget and accounts to the Board. The House committee responsible for all matters relating to the estate, premises, equipment and facilities. The Compliance & Risk committee responsible for regulatory and internal policy & procedure compliance, all types of business risks covering competitive, economic, operational, legal and compliance. The Education committee responsible for all education and pastoral aspects of the School. The Health & Safety committee responsible for oversight of health, safety and wellbeing across the School. The School also has a Bursary committee which only meets to consider bursary applications.

All Governors give of their time freely and no remuneration or expenses were paid in the year. No Governor or person connected with a Governor received any benefit from means tested bursaries. Governors determine the remuneration of key management staff through the Finance Committee, which is kept under annual review.

The Governors are the charity trustees of The Granville School. The Governing document is the Memorandum and Articles of Association dated 13th November 2009. New Governors’ are appointed by the existing Board of Governors and ratified by the Members at their annual AGM. Governors are appointed for a period of three years.

Leadership and engagement with employees

The Headmistress undertakes the key leadership role overseeing educational, pastoral and administrative functions in consultation with the senior leadership team. The Headmistress oversees the recruitment of all educational staff and administrative staff, whilst under delegated authority the Bursar oversees the recruitment of non-teaching support staff. The Headmistress and Bursar are invited to attend Governors’ meetings. The Headmistress attends the IAPS Conference and the Bursar attends the ISBA Conference (annually). Both conferences permit appropriate representation to Government and regulators of the views of the sector.

The School is structured and organised to ensure collaboration, learning and involvement of all employees, providing channels and forum for employees at all levels to be involved in all areas of the School. There is a cascading structure of meetings at the levels of heads of department, divisional heads, subject staff, operational staff and the senior leadership team where the business of the School is raised, discussed and better outcomes arrived at on a weekly basis. Project teams are created regularly to deliver improvements or change programmes using the skills of employees.

THE ENA MAKIN EDUCATIONAL TRUST GOVERNORS’ REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2020

Setting pay for staff and key management personnel

A number of criteria are used in setting pay, the national pay scales; the nature of the role and responsibilities; individual performances; the sector average salary for comparable positions using AGBIS surveys and IAPS advice and trends in pay in recent years.

Risk Management

The school maintains a risk register which is regularly reviewed by the Compliance and Risk Committee and is presented to the Governors at every meeting, including sub-committees. The Governors routinely consider the major risks and other possible risks faced by the School and the probability of the risks arising. They are assisted in this regard by the school’ Senior Management Team. Risk is managed under the headings of:

Educational & Pastoral
External
Financial
Operational including IT & Cyber

Through the above risk management processes the Governors are satisfied that the major risks are identified and as far as practicable, have been adequately mitigated. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

Key risks

The main risk that the Governors have identified is the reputation of the school such that there is a material impact on current and future pupil numbers and the ability of the school to attract high quality staff. This risk is managed through safeguarding and staff safer recruitment policies, pastoral support for both pupils and staff, high quality teaching and learning and active identification and resolution of health and safety related issues. During the year potential risks have taken a new dimension with arrival of the COVID-19 pandemic. Pandemic risks is now and will remain a key risk for the School in the years ahead.

COVID-19 Pandemic disruption

The Granville School, in common with schools nationwide, faced a national lockdown in March 2020. The COVID-19 pandemic has been a significant source of disruption to many aspects of the School’s operations during the year with the School closing in March 2020 with staggered re-opening late into the summer term. Areas of disruption included no face to face teaching, no extra-curricular activities, the termination of all school visits and trips for the rest of the school year and into the next, a reduction in funding raising activities and a major curtailment in pupil recruitment activities.

The School adapted quickly, implemented and delivered a remote learning provision which developed greatly over the period in which it was offered. The provision used a combination of Zoom and Microsoft Teams for live and recorded lessons, growing in use of the rich functionality offered by these solutions, along with a number of other learning platforms to which it was already subscribing. The School developed a provision for key worker and vulnerable children as needed by its families.

The School had an IT foundation and cloud-based systems that allowed it to switch to remote teaching, though it was a steep learning curve. The enormous efforts of all teaching and support Staff to develop, implement, execute and maintain a remote learning provision and to innovate as time passed was highly commendable. The School recognised the efforts of staff and expressed gratitude for their dedication during and beyond the shutdown.

At no time was the Governance of the School impacted severely as all meetings were held remotely and the frequency of meetings increased as a result of the need for greater oversight and strategic guidance in managing the crisis as it unfolded. Governors participated and were more regularly informed of risks, arrangements for education, pastoral care and safeguarding, financial impacts, impact on staff resources and how the school was preparing for a return to face to face education.

Key risks in the area of health and safety were elevated as the School upon returning, prepared for the safety and health protection of pupils and staff. This involved detailed risk assessments with guidance from our regulatory bodies, increased costs of cleaning and sanitising due to material costs, PPE requirements and more frequent cleaning routines.

THE ENA MAKIN EDUCATIONAL TRUST GOVERNORS’ REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2020

The pandemic had a significant financial impact in 2019/2020, with fee income and operating surplus heavily affected. The School offered families a reduction in fees to reflect the change in educational provision resulting from remote teaching. To mitigate the risks, the School managed to reduce costs in support functions without affecting maintenance to critical systems. Financially the School benefitted from the grant available through the Furlough support scheme introduced by the Government and made measured use of this scheme for staff who were unable to work.

The pandemic has impacted the School, as it has the independent sector, by limiting the opportunities for personal marketing through open days and visits by parents. This has resulted in a slowdown of growth at the natural entry points of the School. The School expects that this recruitment pipeline will slowly return to growth in 12 – 18 months.

The impact on recruitment, managing the financial and operational risks and the strengthening reserves will continue for at least the next full school year, if not longer. The School is well positioned financially to weather this period of uncertainty as a result of its strong financial reserves. The Governors and senior leadership will together ensure that the School can securely navigate the changes in the market during this period and secure its long term future.

THE ENA MAKIN EDUCATIONAL TRUST GOVERNORS’ REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2020

Statement of Governors’ Responsibilities

Company law requires the Governors to prepare Financial Statements for each financial period which give a true and fair view of the state of affairs of the charity’s activities during the period and of its financial position at the end of the period. In preparing those Financial Statements, the Governors are required to:

Select suitable accounting policies and then apply them consistently.
Observe the methods and principles of the Charities SORP.
Make judgements and estimates that are reasonable and prudent.
State whether the policies are in accordance with applicable accounting standards.
Prepare the financial statements on the going concern basis unless it is not appropriate to presume that the charitable company will continue in operation.

The Governors are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the Charitable Company and to enable them to ensure that the Financial Statements 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. The Governors confirm that there is no information relevant to the audit of which the auditors are unaware and that the Governors have taken the necessary steps to ensure they are aware of all relevant audit information and made sure the auditors are aware of it.

The Governors’ Report has been prepared in accordance with the small companies regime and the Governors have taken the exemption from preparing a strategic report.

Approved by the Governors’ at its meeting on 02 March 2021.

And signing on its behalf by: Nicole Coll

Chairman of the Board of Trustees:

Dated: 02 March 2021

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE ENA MAKIN EDUCATIONAL TRUST FOR THE YEAR ENDED 31 AUGUST 2020

Opinion

We have audited the financial statements of The Ena Makin Educational Trust for the year ended 31 August 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows, and notes to the financial statements, including a summary of significant accounting policies. 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 and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the charitable company’s affairs as at 31 August 2020 and of the charitable company’s net movement in funds, including the income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for 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 we have fulfilled our other 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 opinion.

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 8, the trustees (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 trustees 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 trustees 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 trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but 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.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Governors’ report. 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.

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE ENA MAKIN EDUCATIONAL TRUST FOR THE YEAR ENDED 31 AUGUST 2020 (CONTINUED)

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.

Opinions on other matters prescribed by the Companies Act 2006

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

the information given in the Governors’ report (which includes the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors’ report included within the Governors’ Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the 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 Governors’ Report (which incorporates 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:

adequate accounting records have not been kept by the charitable company; or
the charitable company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the Governors were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Steven Harper (Senior Statutory Auditor) 10 Queen Street Place For and on behalf of Haysmacintyre LLP, Statutory Auditors London Date: 15 March 2021 EC4R 1AG

THE ENA MAKIN EDUCATIONAL TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2020

		Unrestricted	Restricted	Total	2019
		funds	funds	2020
	Note	£			£
Income from:
Charitable activities	3	2,327,438	-	2,327,438	2,516,289
Donations and grant income	4	120,910	-	120,910	30,000
Other		10,235	-	10,235	4,161
		--------------------	--------------------	--------------------	--------------------
Total		2,458,583	-	2,458,583	2,550,450
		--------------------	--------------------	--------------------	--------------------
Expenditure on:
Charitable activities	6	2,700,444	7,000	2,707,444	2,468,120
		--------------------	--------------------	--------------------	--------------------
Total		2,700,444	7,000	2,707,444	2,468,120
		--------------------	--------------------	--------------------	--------------------
Net income and net movement in funds		(241,861)	(7,000)	(248,861)	82,330
Balances brought forward at 1 September		4,901,985	28,000	4,929,985	4,847,655
		--------------------	--------------------	--------------------	--------------------
Balances carried forward at 31 August	11, 12	4,660,124	21,000	4,681,124	4,929,985
		==========	==========	==========	==========

All of the above results were derived from continuing activities.

There were no other recognised gains and losses other than those stated above.

The notes on pages 16 to 22 form an integral part of these financial statements.

THE ENA MAKIN EDUCATIONAL TRUST BALANCE SHEET

COMPANY NUMBER: 00865624

AS AT 31 AUGUST 2020

		2020		2019
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	8		3,431,833		3,491,332
CURRENT ASSETS
Debtors	9	56,811		113,348
Cash at bank and in hand		1,656,070		1,621,811
		--------------------		--------------------
		1,712,881		1,735,159
CREDITORS:amounts falling due
within one year	10	463,590		296,506
		--------------------		--------------------
NET CURRENT ASSETS			1,249,291		1,438,653
			--------------------		-------------------
TOTAL NET ASSETS			4,681,124		4,929,985
			==========		==========
FUNDS OF THE CHARITY	11
Unrestricted funds
Fixed asset reserve			3,431,833		3,491,332
Revenue reserve			1,228,291		1,410,653
			--------------------		--------------------
			4,660,124		4,901,985
Restricted funds			21,000		28,000
			--------------------		--------------------
			4,681,124		4,929,985
			==========		==========

The notes on pages 16 to 22form part of these financial statements.

The financial statements have been prepared in accordance with part 15 of the Companies Act 2006 in regards to small companies.

The financial statements were approved and authorised for issue by the Board of Governors and were signed on its behalf by:

Mrs Nicole Coll:

Dated: 02 March 2021

THE ENA MAKIN EDUCATIONAL TRUST STATEMENT OF CASH FLOWS

AS AT 31 AUGUST 2020


	Notes	£	£	£	£
Cash flows from operating activities:
Net cash provided by operating activities	A		103,017		66,482
Cash flows from investing activities:
Payments to acquire tangible fixed assets		(74,699)		(107,303)
Interest received		5,941		4,161
		--------------------		-------------------
Net cash used in investing activities			(68,758)		(103,142)
			--------------------		--------------------
Increase in cash in the reporting period			34,259		45,670
Bank balance at 1 September			1,621,811		1,576,141
			--------------------		--------------------
Bank balance at 31 August			1,656,070		1,621,811
			==========		==========
Note A:
Reconciliation of net income to net cash
generated from operating activities
Net income for the year			(248,861)		82.330
Adjustments for:
Depreciation			134,198		132,497
Interest received			(5,941)		(4,161)
Decrease/(Increase) in debtors			56,537		(95,414)
Increase in creditors			167,084		33,560
			--------------------		--------------------
Net cash provided by operating activities			103,017		66,482
			==========		==========

THE ENA MAKIN EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

1. COMPANY STATUS

Charity information

The Ena Makin Educational Trust is a private company limited by guarantee (number 865624) registered in England & Wales. The liability of the members is limited to £1 each in the event of the Company being wound up. The Company has five members. The Company is a registered charity, number 307931. Its registered office and principal place of business is shown on page 1. The Company constitutes a public benefit entity in line with FRS 102.

2. ACCOUNTING POLICIES

a) Basis of accounting

These financial statements have been prepared in accordance with the Companies Act 2006, the Statement of Recommended Practice: Accounting and Reporting by Charities Second Edition (SORP 2019), and in accordance with Financial Reporting Standard 102 (FRS 102). The trustees are satisfied that the Trust has adequate resources to continue in operation for the foreseeable future and, accordingly these financial statements have been prepared on the basis that the Ena Makin Educational Trust is a going concern.

The Governors have considered the impact of the COVID-19 pandemic on the reserves and financial health of the school. The trustees are satisfied that the Trust has adequate resources to continue in operation for the foreseeable future and, accordingly these financial statements have been prepared on the basis that the Ena Makin Educational Trust is a going concern.

b) Fees

Fees receivable represent the invoiced value of tuition and associated fees, after deducting bursaries and other remissions granted by the School. Entrance and registration fees are credited to income in the year in which they are received.

c) Tangible fixed assets

Fixed assets in use by the school are held at cost less depreciation and impairment. Provision is made for depreciation on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Freehold buildings 2% per annum on cost Building improvements 10% - 20% per annum on cost Fixtures, fitting and equipment 10% per annum on cost Computer equipment 25% per annum on cost Motor vehicles 25% per annum on cost

d) Expenditure

All expenditure is accounted for on an accruals basis.

Expenditure is allocated directly to the appropriate expense headings. The irrecoverable element of VAT is included with the item of expense to which it relates.

Teaching costs

Supplies of games equipment, books, stationery and sundry materials are written off when the expenditure is incurred.

Allocation of support and governance costs

Support and governance costs have all been allocated to Expenditure on Charitable Activities.

Charitable Activities

Charitable Activities include teaching, establishment and administration costs as well as finance charges.

e) Financial instruments
The School only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

THE ENA MAKIN EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued)

FOR THE YEAR ENDED 31 AUGUST 2020

2. ACCOUNTING POLICIES (Continued)

f) Critical sources of estimation uncertainty and accounting judgements

In the application of the accounting policies, the Governors are required to make judgements, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

In the view of the Governors, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

g) Fund accounting

Unrestricted funds comprise funds not subject to any restrictions regarding their use and are available for any charitable purpose of the Company. Restricted funds comprise funds donated to the Company to be applied towards specific capital and revenue items.

h) Pension scheme

The Company contributes to the Teachers’ Pension Scheme. This is a multi-employer pension scheme and it is not possible to identify the Company’s share of the underlying assets and liabilities. Therefore, as required by FRS 102, the Company accounts for the scheme as if it was a defined contribution scheme. Contributions payable in respect of the accounting period are charged to direct charitable expenditure.

The Company also contributes to a defined contribution scheme for non-teaching staff. Contributions payable in respect of the accounting period are charged to direct charitable expenditure.

3. INCOME FROM CHARITABLE ACTIVITIES

4.

INCOME FROM CHARITABLE ACTIVITIES
	2020	2019
	£	£
Gross fees	2,288,593	2,465,332
Bursaries and fee discounts	(64,397)	(69,071)
	----------------------	----------------------
Net fee income	2,224,196	2,396,261
Registration fees	4,700	4,300
Clubs and trips	70,842	94,464
Examination fees	27,700	21,264
	--------------------	------------------
	2,327,438	2,516,289
	==========	=========
INCOME FROM DONATIONS AND GRANTS
	2020	2019
	£	£
Amounts received through the Coronavirus Job Retention Scheme	120,910	-
Donations	-	28,000
	--------------------	------------------
	120,910	28,000
	==========	========

THE ENA MAKIN EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued)

FOR THE YEAR ENDED 31 AUGUST 2020

5.	NET INCOME
		2020	2019
		£	£
	Net income is stated after charging:
	Auditor’s remuneration – audit ex VAT	10,100	9,750
	Depreciation of owned assets	134,198	132,497
		==========	==========
6.	ANALYSIS OF CHARITABLE EXPENDITURE AND SUPPORT COSTS
		2020	2019
		£	£
	Teaching	1,770,785	1,663,343
	Establishment	324,615	339,488
	Administration	342,748	270,639
	Depreciation	127,197	132,497
	Historic TPS employers’ contributions	85,764
	Governance costs	56,335	62,153
		--------------------	--------------------
	Total Expenditure on Charitable Activities	2,707,444	2,468,120
		==========	==========

Historic teachers’ pension scheme (TPS) contributions relate to retroactive membership of the Scheme for 3 employees.

7. STAFF COSTS

	2020	2019
	£	£
Salaries and wages	1,525,454	1,485,127
Social security costs	156,827	139,951
Pension contributions	269,795	187,632
	--------------------	--------------------
	1,952,076	1,812,710
	==========	==========

The average number of employees during the year was 58 (2019:63).

There was 1 employee receiving employee salary and benefits between £120,000 and £130,000 during the year (2019: 1 employee receiving benefits between £120,000 and £130,000).

There was 1 employee receiving employee salary and benefits between £90,000 and £100,000 during the year. (2019 1 employee received employee salary and benefits of between £60,000 and £70,000).

The key management personnel are considered to be the Governors and the Senior Leadership Team. The Governors received no remuneration in the year (2019: none). The aggregate remuneration of the Senior Leadership Team during the year amounted to £352,331. (2019 £463,220)

THE ENA MAKIN EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued)

FOR THE YEAR ENDED 31 AUGUST 2020

8.	TANGIBLE FIXED ASSETS
		Freehold
		land and	Furniture and
		buildings	equipment	Total
		£	£	£
	Cost
	At 1 September 2019	4,548,777	623,032	5,171,809
	Additions	-	74,699	74,699
		--------------------	--------------------	--------------------
	At 31 August 2020	4,548,777	697,731	5,246,508
		==========	==========	==========
	Depreciation
	1 September 2019	1,237,355	443,122	1,680,477
	Charge for the year	90,560	43,638	134,198
		--------------------	--------------------	--------------------
	At 31 August 2020	1,327,915	486,760	1,814,675
		==========	==========	==========
	Net book values
	31 August 2020	3,220,862	210,971	3,431,833
		==========	==========	==========
	At 31 March 2019	3,311,422	179,910	3,491,332
		==========	==========	==========
9.	DEBTORS
			2020	2019
			£	£
	Fee debtors		18,065	83,582
	Prepayments		31,980	27,530
	Other debtors		6,766	2,236
			--------------------	--------------------
			56,811	113,348
			==========	========
10.	CREDITORS: Amounts falling due within one year
			2020	2019
			£	£
	Trade creditors		28,734	21,826
	Taxation and social security		46,088	60,348
	Other creditors (including pupils deposits)		150,872	170,322
	Accruals and deferred income		17,858	22,350
	Other creditors		220,043	21,660
			--------------------	--------------------
			463,590	296,506
			==========	==========

THE ENA MAKIN EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued)

FOR THE YEAR ENDED 31 AUGUST 2020

11. UNRESTRICTED FUNDS

	Balance at 1				Balance at
	September	Income	Expenditure	Transfers	31 August
	2019				2020
	£	£	£	£	£
Fixed asset reserve	3,491,332	-	(127,198)	74,699	3,431,833
Revenue reserve	1,410,653	2,458,583	(2,573,246)	(74,699)	1,228,291
	-------------------	-------------------	-------------------	-------------------	-------------------
	4,901,985	2,458,583	(2,700,444)	-	4,660,124
	==========	==========	==========	==========	==========
	Balance at 1				Balance at
	September	Income	Expenditure	Transfers	31 August
	2018				2019
	£	£	£	£	£
Fixed asset reserve	3,516,526	-	(132,497)	107,303	3,491,332
Revenue reserve	1,331,129	2,522,450	(2,335,623)	(107,303)	1,410,653
	-------------------	-------------------	-------------------	-------------------	-------------------
	4,847,655	2,623,957	(2,468,120)	-	4,901,985
	==========	==========	==========	==========	==========

Transfers between funds represent purchases of tangible fixed assets, which are made out of the Revenue reserve and transferred to the Fixed asset reserve at the year end.

12. RESTRICTED FUNDS

	Balance at 1				Balance at
	September	Income	Expenditure	Transfers	31 August
	£	£	£	£	£
Minibus fund	28,000	-	(7,000)	-	21,000
	==========	==========	==========	==========	==========

During the year ended 31 August 2019, the School received a donation of £28,000 from Friends of Granville School towards the purchase of a new minibus. A minibus was subsequently purchased in September 2019. The depreciation charged on the minibus has been allocated to this fund.

Restricted funds comprise solely the net book value of the minibus, which is included within tangible fixed assets on the Balance Sheet.

13. TRUSTEES’ REMUNERATION AND EXPENSES

Trustees are not remunerated for their services. During the year no expenses were reimbursed to any Governor. (2019: £65). There were no further related party transactions that require disclosure.

THE ENA MAKIN EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued)

FOR THE YEAR ENDED 31 AUGUST 2020

14. PENSION COSTS

The school’s employees belong to one of two principal employee schemes.

a) Legal and General, which is a defined contribution scheme for non-teaching staff.

b) Teachers’ Pension Scheme (TPS) for teaching staff which is a multi-employer defined benefit scheme.

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 £184,205 (2019: £136,921) and at the year-end £32,106 (2019 - £18,385) 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 ENA MAKIN EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued)

FOR THE YEAR ENDED 31 AUGUST 2020

15. PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES

		Unrestricted	Restricted	Total
		funds	funds	2019
	Note	£		£
Income from:
Charitable activities	3	2,516,289	-	2,516,289
Donations and grant income	4	2,000	28,000	30,000
Other		4,161	-	4,161
		--------------------	--------------------	--------------------
Total		2,522,450	28,000	2,550,450
		--------------------	--------------------	--------------------
Expenditure on:
Charitable activities	6	2,468,120	-	2,468,120
		--------------------	--------------------	--------------------
Total		2,468,120	-	2,468,120
		--------------------	--------------------	--------------------
Net income and net movement in funds		82,330	28,000	82,330
Balances brought forward at 1 September		4,847,655	-	4,847,655
		--------------------	--------------------	--------------------
Balances carried forward at 31 August	11, 12	4,901,985	28,000	4,929,985
		==========	==========	==========