REGISTERED COMPANY NUMBER.. 006242n IEn9Fand and Wales) REGISTERED CHARITY NUMBER.. 307937 REPORT OF THE GOVERNORS AND FINANc￿L STATEMENfs FOR THE YEAR EhtDED 31 AUGUST 2022 FOR BEfHANYSCHOOL BETHANY SCHOOL CONTENT8 OF THE FINANCIAL STATEhlENTS FOR THE YEAR ENDED 31 AUGUST 2022 Pa9e Roport of the Governors Un¢orporat5ng Strate9lc Reporti Report of the Indtpendent Audlto Statsrnent of Flnanclal Actlvtties 1 to 8 9 to 11 12 Batan¢8 Sheet 13 Cash Flow Slatemont 14 Notes to tha Cash Flow StatemÈnt 15 Not8S to the Flnanclal Statements 16 to 30 8fftrlANY SCPIOOL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2022 The govemors who are also directors ofthe L*arfty forllTe purposes of the CornpaniesA¢t 2006, presentlhar T8POrtIMth the finsnGi31 statements of the eharity forth• yèar end•d 31 August 2021 The govemrrs have adopted the provi%lon6 of Awounting and Reportlng by Chahties.. St*ment of Rets)rnmended PraCu￿ app1Kab￿ to charitie5 preparing their accounts in aerDn1an￿ wth the Fingnoal Reportiro Standard applicable In the UK end Republic of fre1￿d IFRS 1021 18ffedive 1 Jar¢uary 20191. REFERENCE ANDADMINISTRATIVE DETAtLS Regist6red Cvmpany 00624273 IEn9laThl and Wales) Règlstèred Charity number 307937 Re9iStered office Curt15d¢n Green Goudhurst CFIANBROOK Kent TN17 1L8 The Governo]¥, who arè afso the DireGtor3 forthe purpose ot company law, who serv•d durfng the yearwere: J M Fenn LLB WSKent K Buckjand BA FCA R C Cjark BA MD (Ed) J R W Harygarter MB BS WHon81 PIIBA N P Ftimber Bsc FCA R PllbBam A Cunninghsm P B Askew L Roberts E Connell M H3rm8n P Macknnnon D Show GPO S Bonell A Sctstt - Cl]airn)an - Vice Chainnan - re51gned 05103r22 - resigned 30109r21 - restgned 16112121 - appointsd 05103 H*admaster F Heaty HDry)Ed NPQH Bursar and CoEnpany Secretary V Epps-wood G Morey BAIHon¥l ACA - resigned 2&Q2t22 - appointed 2￿3￿2 Page I BETHANYSCHOOL REPORT OF ThE GOVÈRNORS FOR YPEE YEAR ENDED 31 AUGUST 2022 REFERENCE AND ADMINISTRATIVE DETAtLS Audlto¥8 TC Group SlatutoryAuditors The Courtyard, Shoreham Road Upper Beediag Steyning West Sussex BN44 3TN Sollcltors Pengelly & Ryland$ 3941 HLoh Street Tenterden Kent rN30 6SJ InveBtsnentAdvi$or8 Ralhbone Investment Management knmiled Port of LNe.PODI Building Pier Heacl Live(pool L31NW Bankers National WesthirBtgr Ba￿k Longford House 19 fvkjunt Ephrairn T￿nb￿dge Well$ TN4 8AE STRUCTLIRÉ, GOVERNANCE AND MANAGÉMENT Nono of the Governors ha$ any beneficial inte￿t in the 02mpany. All the GDvemots are mernbers of the Gornpany and guarantee ID contributè £1 in the event of 8 Mnding up. The Board of Govemors meÈt once pei term. The main Sub CornmitteÉ of the Governors is the ExeGUtive Committee. which was fomed fol￿￿1￿9 an AGBIS reviaw of GovÈrnanee and repla￿5 the Management Committee. The Execuuve C¢Mnmittse meets oncè a month to discuss the day to day matters conc¥med with the running of the School. Major items are passed to lh& Main Board for disojssion, with the Executive Commlttee's recommendabon3. J Fenn (Chairman). W Kent Iwjce Chalil, R Qark, K BUc￿and 8nd S Bonnell slt on this Committe¢ with thè Headmast8r and Bursar in attendance. The other pamaDent Sub Ccmmlttees ore the Finance Comrnittee, who mÉet with the Exe¢utwe Cornmit18¢ once per term. with N Kimber and P AskEW as mernb8r8. Oth&r pemanent Sub Committees include the EduCat￿n Commi118e, the Marketsng and Developmpnt Committee and Estates Cotnmittee. Th8 folSowlfig SchoDI Cornmitt8es, whlch have Govemor representstion met during the year. ICT Committee H & S Committee The Day lo Day runnlng of the Schi)ol is dpleg8ted to the Senior Man8gement Team, thg members DI which are". HeadmaslÈr. D¢puty H¢ad (Pastarall, Deputy Head {AGddemicl. Bursar Human Resources Manager. The He8dma8ter and Bur8ar attsnd Governor5 and Executive Cemmittee meetings. The He8dma$t8r, Bursar, D&puty Heads 8nd the Human Resour￿ Manager attend ￿ard meetings. Pagè 2 BETHANY SCHOOL REPORT OF THE GOVÈRNORS FOR THE YEAR ENDED 31 AUGUST 2022 RECRUITMENT, INDUCTtON AND TRAINING OF GOVERNORS. Appolnthientand re-appotnlment Df Gov8mors The Artide8 of Assocratton allow for the￿ to be btheen seven a￿* ￿efity appointed Governors. There are c#Jtrentty fourteen on the Board. GoverrMJE5 8re appclnted by the e¥Jsting Board rnernbe￿ In the first in8tance and they are ppolntsd aftér 3 years and 3 yearfyfhereafter. Tralnlng Dtjring the year. the GoveThcfS were I￿￿ed in safÉguardrng and have undert*n onfine tsaininu LElr]g Educa￿ couT588. l other Govemors were rno¢e swaTe ofbriefing do￿rnents provthd byAGBIS, IS&4 and other re¢ognlsed btsfjies. SENIOR MANAGEMENT PAY POLICY In line with pay for ajl 5t8ff. thè Senior Man89ement pay ￿ deterrnined by the GovÈmors. In dBcKllng the level of rnunèr8bon, the Commtitsg tske into acu)unl. ainongst other things, tyJrEnt market ijemand for teache￿, the flnanoal strength of thp School. the eGonotnic outlooK the performance of the relevant itKlividua15, and tha'going rate for remuoÈr8b'on' of senior man8gement in locsl indqjendent sd)ool Ma￿tt DÉtails of key m8nagwn8nt personnel pay ¥Te Shown In note 10 of the accounts. EAIPLOYMÉNT POLICY The School Fs an equal OPPDrtyJnthe8 employer. Full and f8ir eonsideratron is gNen to job applleHtions frotn dlsabled Pts￿0￿8 and due considetsbon is glven to their training and employment needs. Ccnsuttation with employees ha5 continued al all leveL8 wIth the aim oltaking theirvlws into accrunt then deosions a￿ mada that are likely to affect th¢Tr intergsts. A tull 5tsff survey olth@IrvieME has been ¢onduct&J r￿ntyY and points raised a￿ belng 8CtiDned. CHARITABLE OBJECTS The objects af Ihe S¢hoDI È$ sel out in th8 Artrcles of As$oci8¥on 8re to advance the ￿￿￿tIOn of boys and girts by the provESlOn ofa 5ckntsDI or ￿h0O1$ based on a Strong Chrfstian foundatkJTh and tolerant of Dth&r faiths. In setting the Schools object￿e8 the Governor8 hwe gNen carefvl conslderatlon to the Charity commiss￿n.8 9enèral guidan￿ Dn public benefft. AIMS AND OWECTJVES The School provides èdueation ts btys and girJ4 committed to prow(fin9 young people with an 8durabon for life In 8 changing world. It is our policy forthe Sthjol tts help pupils achieva thelrhtghost acadeFnic potsntlal as well ag providin9 8n extra-CU￿)Cu1ar programme which akns to devejop lif￿long interests and to help bulld se￿-¢Onfidell￿ and a desirè to ccntribute to community. The Sthool 81mS to play partln the wldercomrnunhy including making facillle$ available to selected outslde l)odies. The Sd]ocd aThs to gfve mEans-tested Enanaal assist8nce to the pa￿nts ofsome pupil$ who might otheNrise find fvii fee a limiting fa¢tortD sending Iheirsons and d8U9hters to the Sthool. In conjunction wilh aim, thè Seknool continues to develDP its Designated Funds. Th8 Sch￿1 8Thns to buikl relationship8 edwational estsbI￿hrne￿ts in tha Malntsined Sectci. VhiL%t ts phySIc￿ developnEnt of the School Is wulated by the planning authoritses, the Sthocl i% eonsclou$ of #s Impa¢t on the I￿1 r4mmunty and is tsrefO￿ seeking vrdys to ￿Mm￿nIcate rnore effectively ¥wth them. PRINCIPAL ACTivmES OFTHE YEAR As al￿adY stat￿, the School advan￿ the education of bDyS and glrts by the provi$loh of a schotsl based upon 8 strong Christian foundation 3ryd t0￿rant ofolherfaiths. Pa9e 3 8EfHANY SCHOOL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2022 ACHIEVEIJJENTS AND PERFORMANCE In the 2021 school year thère Wtr￿ 3￿ puplls in the School lin 2020 thets were 3451 ol Whom 78 We￿ boarders (ln 2020 Iheie were ￿1. There were 71 pupils in the Smh Form. Boariling pupils are primarity British. afthÉMJgh there were umberfrom overseas countrEJ and these were primarily from Europe. AfvKa and th8 Far East. A very heatthy numbÈr of pupiL8 sat the Year 7 entrance asses8mÈnt5 in Novernber 2021. It cl8ar that school's promotion Df wellbein9 2nd happiness struck a chord wth pr08pe¢tlve parents. The of boys to gir15 remains at 2-1. We ￿Ere very pleased wth this yeals GCSE and A level Kesults whkh were terri￿. The Centr8 855essod grades system were carefvlty awarded and undeThY8nt considerable scntuny Mrithin the 8chool. There was llot a Single Pa￿ntaI or pupil complaint iegarding the fftsutts. and thertfore there were no appeals. This was leslaTr*nt to the levels of cornmunicstion betwe￿ the 8chool, parents and pvpi15 88 well as the painslakirvj approath that the Scho￿ took lo ensure that the grade5 were fairly awarded. A8 usu& all of the pupils who wished to go to universlty gained entry to their pref¢rfftd pla¢e5 0¢ st￿ly. GNen the brea(tth of ryjrriculum that we offer at A level. we were naturally delighted that cur creativtr and arbsli¢ pupils were On￿ again abl& ID pursue theirtslents in their chosen desbnations. The GCSE results ware similarly ￿￿preSS￿le *ith a propoffjon of pupils gainlng the top grades. The 8blllty profile for the schools GCSE pupiL8 Ls In line ￿1th the nats'on81 average but the resutt5 obtained were considerably above national norrns. Once 8gaTll. our GCSE and A 18vel pupils wer8 incredibly well supported by our vocational $tsff snd they *0 hvEked extremely har(J in tandem wlth Ihe pupi15, whlth enablèd such great Suc￿sseS to bs obtalned. Prior lo the stsrt of ietm In SpptembÈr2021, all pupils and staff were Covid te5tsd. Overseas pupik kvhc were required to be 4uaranllned We￿ accoMMDd*￿ at ￿thany. We were de1￿hted tD return to 50-mthute lessoBs 8nd tha teachers once again 18'Jght in their own e1a8sroo￿s. In Septemberthe WEartng offaee cowAngs wa5 initrally optional butwas mandatory on s¢hoDI IransporL A5 Wg did In th8 P￿￿u8 year, we rerna4ied sen$ible and pragmatic whilst at the same time being proactivÈ and app￿Ing all mandatory government guidaneE. We were delightEd that we were able tts resumè Dur annual chatty walk Seplttnber. 8$ well as host oui 3nnual Sports afternoon th& same moalh. We had our first Open Moming of th& year in September 8nd we had well-signposled one way syst8ms everywhe￿. which parents wllingly lollowed. At the end ol September. pusi18 in Years 6 above were vaLrlrBted lor Covld. and Bethgny was relatively untroubl by Covrd for tha remainder ofthe year. We had a two week half IEmi b￿k in Ootobgr, and dLte to the Covid Situation, Bethany rwnained ¢pen for our overseas boarders who stayed ￿ryth us forthe 2 weeks. In a furth&r sign of norn)ality ￿thin the school, ttte Friends of Bethany Sthool orga￿8&￿ a most Suc￿SSfUl ¢Jisco for pupIL8 sn Years 7 to 9 in theAss8mbly Hall in November. Both the Chrisira$ Conc&rt arKt Christmas Carol Ser4ice were recorded and dislributed to parents elethrcnir211y to ensure our overseas boarde￿ did not suc¢umb to COVKI In the final weeks of tann. Qui 7 y?gr groups had School based Chrisbna$ partles b8for8 the end of temi. In order to ensure that pupi18 in Yeafs 11 and 13 were kppt 38 safe a8 possibla for their summer ex￿lTrationS our patsnl leachermeetings rernained remote so Ihal no unnecessary rfsks tsken with pupils and staff ¢a(ch+ng Covid. Shortly after the invasion cf UkoSne. Year 12 pupi13 organised a very $uc4xsful ¢ake sale. All were donat8d to help the hum8nitarf8n efforts in Ukraine. Page 4 BETHANY SCHOOL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2022 AQHIEVEMEKf8 AND PERFORMANCE- conttnued The Duke of Edinburgh Awatd Sthem8 retumed to nom￿litY, an<1 exped￿0￿3 resuTrd In the k2tter half of the sumft*r tenn. The central Chrlsban ethos of the school was maint8irEd with 811 of ¢ur pupils att8ndlng ￿e￿]Y chapel sewces The professional developrnent of stsff Conlnued et pa￿, with fvrther sharing of experti5a in tsrms of IT and Mi¢rosoft Team8, a5 well as tho introducllen orte3chers Mdeoing thernselves in lessons so that theirpracbce could be construdively an8ly8ed by both themseIves and colleayues. Y( is a Con￿nUert ¢JÈgire at Bethany to conJnually improvg and evaluate taathing and learnin9 as this rnaxirnises the pupits, learning expetiences at Bethany. Once again Bethany hosted a Soriety of H¥ds Computer Sclence day, whith was atteftdtrj remotely by Cornputer Sc(encÈ tea¢kne￿ from all over the (y)untry. The netrvorking invow enthused all parliupants and the feedback was outstanding. Project Based Leamlng has now been èmbedded ints Years 7-9 and this ha5 now beeorne a part 2nd par￿1 of tre kay stage three currsculurn, In these task$. pupils (xKnpkte day long projects focusing on 8kilis rather than kn￿￿edge, so that pupiL* themselves undetstsnd whyth& kfta￿edge they arg leaming Is required in red lrfe situations. thany h£s I￿tentionallY kept Its raroe of GCSE andA level subjects broad. sQ that we can meetthe need$ olourcreative and ?rbstsc pup¥ls. Our STEM IS¢lence Technol£gy Engineerirwj and Maths) clubs Rrnain Incredlbly popuL3r. Bethany has once again started to &nternats"onal ¢cthpetition$ which have now R8urned. FINANCJAL REWEW The Schovl pl1n￿PaIIY raises its funds from fees 2nd r8l*d activltr&s 8nd ha$ ntst engaged In appeals for many Yea￿ until r￿ntrY for the new Performin9 Arts Cent￿. Up unts'l now develDpments have either been fin8nt￿ surpluses after ordinary expenditure, or by borrowing unLfer strict rules to ensure Ihat even in the facè of a $ignificant naoonal finantsal er&si5 leading to a downtum in pupil numbèrs, t￿e borrowing could be repa¥J in les5 than 10 year5. The S(l)ool generated toial inL¥Kn& of £8.08 rnlllion durfng th8 year {2021.. rK.01 tnillionl. of whlch £7.59 mllllon w8 gene￿ted frorn School fee$12021.- £6.54 millionl. Expenditu￿ totalled £7.47 million12021.. £6.49 rrillionl which, including losses on invÈ5trnents d £82k 12021: gain of É230kl, gave a surplus for the year of £52%k 12021: £836kl. Before depredation the sbrplus was £950k 12021.. £1.27 million). Thls wa8 used to reduce borrowiry resuknng ftvm previous investment In improved ￿Our￿S. Total funds at 31 August 2￿2 %%tre £16.84 miifion 12021- £18.32 millR)nl, of vthich £2.72 million were held in the downEntfund, now rthesignated 88 a desunated fund12021.. £2.87 mlll•)nl. Reserves Pollcy Thg Scthool holds total unrestricted reserves of£13.37 million12021.' £12.94 mlllionl. which Includè tar#Jible tsed assets of £12.f5 mil￿OnI2021= 212.64 million) and loro.temi bank loans of £785k12021.. £952kl. Pix&a assets Indude re$idenlial pmpertie3 and, shDuld it be ￿eSSary to Call upon Ihe$6, the houses could be sokj 1Th1￿l1￿ua1IY without detriment to the SchtrDfs oper8t￿nE. The Govemors have agree(I to maintahi one t&tm's worth Of working capital whe￿¥9[ p0s8ibb. InvÈstrnent Powers. Policy and Perfom)ancÈ. The Arbdes olAssociation 9ivè thè School investrnent powers. The Schcol's investments in quoted sha￿S forni part ot the Christopher Ja¢k8on Fund. R8thbDnes Investment Management have been appointed to manag8 thrs investmenl portrolio fDrthe Sehool. An Inv8sltnent policy has b8en agre￿ by tha Govemot5 SIn￿ the yearend. Note 14 provwJes det811 of invethent movements during thè year. Invesfynent performanee was ITr line ￿th the Sthoof$ obje¢tiYes. Bursary Pojlcy This year the School awardÈd s¢holwshlp& bursari88 and dlsGounts of £818k (2021: £805kl which rEpre$ent8d 11Yo ol gross fee income12021-. 1¥hl. The Govstnor8' policy. in line with that of most other Independent schools, Is to wKard Srhokrships based ofi abillty and bur3arits based on need. l Bursarres a￿ means tested on applkxtion by an extemal asstsg¥ment ￿Mpany. BETHANY SCHOOL REPORT OP THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2022 Agset Covor ft¢rfunds Note 24 set5 Out an analysis of thes8 assets attr1bUtsb￿ to the various funds and a ￿e$￿IPtiOn ol the trusts. The¥e 8&8ets are sufficEnt to me8t th8 SchoJl'5 oblY4ation8 on a fijnd by fund ba$Js. Rfsk Mandgemènt Th& Governors are responsible for the management of the risk5 fa¢e(S by the School. R($k5 are Identif￿d, a¥e55ed and Controls established throughout the year. The Board reviews the hJll Ri$k Assessmont annually in March. and Risk is a standing rtern on the aggnda forother Board Meeting5 and dl ExeoJtN& committee meetings. The Governors consider Ihe majorpotenlial rfsks to the School to frk.. Challenglng ecanomlc and poliU¢al environments adversety Sffeollng pupil numbers and lee levels. The impact cfthfy Covid-19 Pandemic. l¢npaeief Brexit on pupil recruitrn6nt and retenttw. Inflationary pressll￿ on ￿rtain costs. Cornpetition from both Independentand slate schools lerpupils Ensuring Safe-guardlng Snd Inspection in an inueasingly regulat￿ 8nvSronmenL TIE key controls used by *h8 School to mthgate risks include.. Formal ageThYa forcomfflittee and Board aCtiV￿es. Strategic plarjning Snd son8ri0 8etting. Detailed Terms of r&feience for all Commlttees. Gotnprehensive strategic plannlng, bud9eting and management a¢￿unting. Established organisaticnal stru￿re 8nd linas of reporting. F¢rmal yffltten polici$5 Clear aulhorisalion and 8pprov21 leveL%. Safer ￿¢ruitmant as iequired by law for the protecl.on of the vulnèratAe. Staff Ir8lning, Child P¥otedion and safeguarding. Through the risk management prO￿s$e8 established by the School. the Governors are 5atisfred that thÈ major risks idenlffied hav8 ken 8dequately mitigatÈd whEre necessary. It is retognised that the system5 can provide r6asona)le bul not ab*)lule a$Surdn￿ that major risks h¥v& b£en 2dequately nTranaged. COPIMUNiff LINKS AND THE PUBLIC BENEFIT The school continued to imprDve its t1￿kS with the local comrnunty. Our Thursday aftemoon enrichment pityramme nsijred that the Duke of Edinburgh Award ScherDe pupils a55iSted the local corrwrunlty in 8 range of $ervlTrs. A varfety of charities benefitted from furtdraising activities of Bethany pupi15 during t1￿ year. These h)duded.. Children of Gambi& ServiTrs, Demenla UK, Hospi¢e in the Vleald, Just Like U$. Kent Air Arnbulan¢e, Mid Kent •Aind MS Society. Nourish Comrllunity Food bank, NSPCC, Oknver Fisher charity arKS Sav8 the Children a5 well a5 0 range of other gaod ¢auses. We We￿ delighted that ourannual summersthool ￿￿Id resume ill August and the 5th001 prernises were rented out to Urban Saints. Local ci)mmunity Glubs also used the school 8lte In the sumrner. The SchoDI offered 9.74% ofts fee income ￿ Scholatships, Bursaries and Fees Subsid￿5. 65 Pupib receiverj Means Tested Bur5arie$ of whith 1 was for fees, 1 was ?￿fi, 7 were for 50%, 15 were 30% - 49°A and 41 were Under3￿/0 of fees. 51 PupiLs re(xived a Sibling Dis¢ount110%1. 85 Pupils re¢er¥ed ScholarsfMPS- Acaderri4 Art. Dance, Dtarna, Musi¢, Drama Sport and Technology w￿ch rdng trom to 40% of fees. Pupil ￿￿1Ve￿ SetVitr5 Dr Ckrgy bursary110°hl, One teacherand one govemor act as governors hr lorAI primary sthools. Page 6 BEThANYSCHOOL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGusf2022 DEVELOPMENT AND FulliRE PLANS Follovrin9 the grantin9 of pfannin9 ￿rmISSIon for the PAC (Performing Art8 Cantrel in July 2020. 8 fvndraising appesl, vthi¢h was Set up January 2021, had aTr In￿al fundralsing 18r9et of £800,000. This ha5 been surpa55ed 8nd the target has bgeo in¢￿*5￿d to £1 rnlllbn to help fvnd the construdon of the PAC. It Is hop￿ to h2ve the PAC operational by September2024. A pre-planntng 8ppliestion to replace Pengelly eoarfing House was submitted in MarGh. maintenan￿ was ¢arrfed out to exists.ng buiNdiryJs, and this in¢lLKled Drama Studio.. S￿￿lISt coaDng appl￿￿ to fairing asphalt roof lo the dram8 s￿￿10 which was 8Jso re¢ecorated extemally. The librdry was redecorated extérnalty and its gabk ends on thg dDrrners rapaired. The pupils, play ar88 was red8corated. The Mount boarding house was extènsivdy refi￿￿1$￿￿d whith IndUd￿ ￿ fire escape and houss wa8 re-carfvd from top to bottom. The outside hedges were toppedlredueed on Mount Path￿0p Tennis Ccurtsfin beiween North Mfing & Mountto pro¥ide enh8n￿ vtsibilitytsafety. The Mount Noth V￿g wa$ re(lerA)rated In both bottom and top corridors and both stalrtsses. The Srxth Fom) Centre had 5 new fire doors with %4$ion paneLs on the *udy rooms fitted and theses m¢xns 8bo redeo)r4ted. Th8 OrGharfJ boartling house had 8 partition fitted and a new￿ts door irk8tslled on tha grourKI ffoor %trhlch abo hsd rew flooring. Soma bedrooms were refiFrbished as w a comrnun81 bathroorn. The WellnesÈ Centr8 hacf a ngw ￿111￿9 frtted in the new office gn th& first floor and tt1￿ was also redecorated. The private ￿S￿lenCe in Old Poplars h8d a fvlly fftted kitchen, new deCtr￿ Isocketsllight51 fitted, new ¥inyl farninate floonng. celllng replostered & rede￿rated. The Dining ro(Kn etiling was ieL¥Mrded, redecorated & 8 new light fitbng Instslled. The Sports Cerrtre had a newoll-fired boiler in5talbY. The Dining Room had a full refvrbishment and Tn¢)Yerni8ation. The exterior lighting was upgraded around the sid& of Kendon How. New fiood lighting was ￿￿ts11￿ onto Pengelly Hcuse. Exterior lighting wa3 upgraded on the Wellness Centre1F0￿1 TechlAdrnin. The￿ was an Up9￿de to the maSn ¢ontrol panel for9aslheating into the main kitd)ens. Various fiwe e8¢apeslhandrails around site We￿ rede¢or*d. REPORTABLE INCIDE￿r$ the yearthere have been no Inudents required notfficatth￿ to the Ch8rity Commission. Page 7 BEThANY SCHOOL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2022 STATEMENT OF GOVERNORS RESPONSIBILITIES The govemors (who ar& abo the director8 of Bethany School for the purposÈs of company lawl are rtspon81bl& for preparing the Report of the Gcv¢mor8 and the finan¢lal statemen15 in a¢wrdance appli¢able law and United Kingdom Accounting Standards (United ￿'AgdoM Generally Acceptsd ACc￿ntIng Practi￿1 Company law tsquires lh& govemors to prepare finan(ial statements for eath financial year which give a tru& ar]d fair view of Ihe State of affairs of Ch￿ritable company 8nd of the incoming re8ource3 and applicat￿n ol re$oureÉs. including the sncome and expendi(uro, of thg charitable company forthat perirxl. In preparing those financk41 $t81ements, the g)vefflors a￿ requ1@ to lect suitable accounting pokn5 and th8n apply Ih&m tyJn5iStenlly.' obseFve the m8U)od5 principles in the Charity SORP.. make I￿Jgements and estimates that afe rtasonable arKI prud¢ot'. preparg the financAal stalemenl8 on the g￿ng o)ncern ba515 unless it Is iaappropriate to presume that the charitable company will continue business. The govemot5 are responsibh for keepiro proper accounting records which di8clo$e with re8$0n8ble actturacy 2t any time finandal posibon of the charil8ble company and to enable them to ensure U)al the financial $iat2ments comply wrth the Companies Act 2006. fhey sre also re5pon3ible for safeguariliro the a55ets of Ihe thanlable company snd hence fortsking reawnable 8tÈps frJr the prevenbon and detecb'on of fraud and other Irregula￿tr￿S. In sofar as the go¥8mors are awaTe". there is no relevant audit information olwhich the charitablg cornpanV8 auditors are unaware.. and the gov8rn¢rs have taken all stèps that tsy ought to have tsken to make them$dve8 aware of any relevant audit infDrmation and to ￿tabliSh thatthtt auditors are aware of that informats'cn. AUDITORS The auditors, TC Group, wll ￿ proposed for ￿-appOInfMÈnt at the forthcoming Ar5nual General Meeting. Report ofthe govem stfvlegic reporL appraved by order ol thè boar(l of govemors, as the company and signed on the board's behalfby.. nn-GovÈrnor Page 8 REPORTOF THE INDEPENDE￿AUDITORs TO ThE MEMBERS OF BFfHANYSCHOOL Oprnion We have audked the Inan￿?[ statements of Bethany Sthool I'the charttable cornpany'l for the year ènded 31 August 20Y2 which ctrnprise the Statement of Financial Acbvitie5, the Balan￿ Sheet, th¢ Cash Flow st￿ern￿nt and note& to the rinanoal statements, including a sumrnary of significant accounting policie$. The financ¥al reporti￿ fram8woth 1h8t ha¥ b*Èn applied In their preparation ￿ appll¢able l*N and United Kingdom Attounfing Standards. in¢ludltTg Financial Reporting Standard 102 The Fin8ndal Reporttng Standard applic2blè in the UK aRd Republic of Ireland IUnit6d KJngdun Generaty Attepted Accounung Practi￿1. In ourothion, the financ(al 8tat&m?nts". g￿e a tDJe and tsir view rf the 5t8le of the charitable ts)mpany's affairs a5 at 31 August 2022 and of its Incoming resources application of ￿0￿[CeS for the yearthen ended., have been properfy prepared In accordance with Unitecl Kingdun Gener8lly ￿￿ted Accountlng Pra¢Oce,- and have been prepared ￿ ac¢ord8ncewth the requirenEnts of the Companles Act2006. Ba81s forop5nion We wr￿￿et•d our8u¢rrt in accorylano with Int&matonal Stsndard$ on Aud￿"n9 IUKI IISAS IUKII and applicab￿law. Our respon8Voilites under thos8 standards a￿ fvrthef describ￿ in the Audito￿. responsibilitie8 for Ihe audit of the finan￿8[ statements section of our ￿P￿rL We are iThlependeN of the charitable company in accordante whh the ethi￿1 requ1￿ment> that are re12vant to our audlt of the finan(Yal statements In the UK includin9 the FRC'S Ethical Standard and wè hÈve fvlfilled our olhef ethlcal responsibliitre8 in accor[lan￿ with these requirements. We befiev8 that the au¢J evidènce have obtained is suffKient and appropriate to provide a basi% far otsr cynion. Contluslons relaflng to going ¢oncern In auditing the financial statements, have conoluded that the governots. use of Ihe golng con￿￿ basis ol accounting in the FW8ration of the fn8naal staternents Is appropriattt. as￿ on the wurkw• have perft)mie£l. ￿ have not identlfied any material uncertainties relatlng to events or eoTrSftlons that, Individually Dr eoNediveW. may cast slgnit7cAnt doubt on th8 clyaritsble companls abllty to continue as 8 90ing Conc￿ lor a p8rk)d of at least M*lve rnonths from when thè flnanclal statements are authorised for issu8. Our reSp￿sIbIlitieS and the ￿SponSib￿rtieS of Ihe govemors ¥vith respect to gDir59 concern arè de9cribed in the reL8vaTrt secb.ons ofthis report. Other Itrfonna￿0n The governots are responsible for the other Informati{￿. The other information comprfses the Infomation Ind￿d￿ In the Annual ReporL oth8rthan the finarKial statements and our Repart ofthe IndependentAuditor5 therecn. Our oplnion on the finanosl statsn*nts does notcovertha other infortnab.on and. ?￿p1 to the extent othewse expliotly 5t3ted in our report, we do not expTe5s any fcmi tsf 8ssurarnce condusion the￿0￿. ln wn8Ction wtth our audf( of the ffnanual st8Eements, our responslbilty is te read the other infotrnalion and, in doing so, consider whethar the other infoNnation ￿ materially incon51Stent wth the fin8Tr¢ial ststernents or our knowledge obtained in th8 audit or otherwise appears tD b& rnaterially misstated. If wè K4entify such rnaterial inconsistencle5 or appatsrt matèrial misstatements, we are ￿qUired to detÈtmine wh8thÈr this gives r￿e to 8 material Misstalernenl in th8 finanrial statements themselves. If, based on the work we have perforTn8d. we con¢Jude that there ts a material misstatement ¢fth$ other tnforThati¢n, we are ¥eqvlr&Y to report th4t fart We havè nothing to ￿pOrt in trls regard. Opinions on other matters pr¥scrtbed by the Companies Act 20D6 In ouropinion, based on the ¥wrf( und8rt8ken in the course of Ihe aurfit.. the inlorm8tion given in thé Report of the Governors for the finanoal year for whleh the finan(ial ststÉrnents ar8 prepared 18 consistsntvAth the fin8naal 51atsments,' and the Report ￿the GovemorE has been prepared in a¢Gordan¢e with applic*)k k981 JEquirernents. Matters on whi¢h we are requiied to report by exception In the Ilght olthe knowledge and und8rstaThding of the charitabl8 cornpany and ts envyronment tsbtalned In th$ eourse of Ihe audit. we have not identnled material rn*statements in the Report of the Gov8mor¥. We have nothing to report hi respect of the foffowt]g malteJ5 where the CoTnp8rries Act 20(6 reguirès us to report to you in ourcpinioTr'. adequate aco)untirg records have not been kept or r8tllms adequate tor our 8udit havE not been received from branches ntit vlsited by us., or Ihe financial ststetnents are not In 4reementwith Ihe 3cwynting records and retums., or certain disclosures of gov&mors' remuneration specified by a￿ not made., or e have not retyved all the infomiation and explanatEons we requitt for our authiL Pa98 9 REPORTOF THE INDEPENDENT AUDITORS TO ThE MEM8ERS OF BETHANY SCHQOL Responslbllltles of governo As explalned more fully in the Stalemènl of Governgrs, R8sponsibilits"e5, th8 govemorslsvho are aL80 the directors of the charitable Cprnpany for the purposes of company lawl 2re responsible for the preparation of the financia 5tstements and ror being satisfied that they gNa 8 true and tsir vl&w. and for such Intemal coniroi as thÈ governor8 detemiine Is n&￿Sary to ena￿& the preparat￿n of fin8nrAal staiernonts that ar¢ free from material mi¥$tatement. whether due to fraud or error. In prèparing the financial slaternents, the governors are respon5bi le for assessing the charttable cunp8nys ability to contsnue as a goiw coneem, disdoging, as applicable. m2tEers reP3ted to gDiryg concern and using the gaing ojnce basis of acGoun*ing unl&8s kne governors ath8r intend to IKiuklate thE ch8ritBble company or to cease Opera1￿8, or have no 168llsbG alternattve but to do $0. Our rèBponslbllltiB¥ for ts audlt of the ffinancl81 ststements Our objectives are to obtsin reasonable assurano abotrt whether the financial $tstements as a whole are free material misstalemorrt. whetherdue tD fizud or error, and to 16sue a Report of the Independent Auditors that Includes our opinion. Re￿Onable a$svran¢e is a hlgh kvel of asSUraTr￿, but is not a guarantee that an audit conducted in accordan￿ th ISli8 IUKI wlll always rletect a material misslatemenl when it exists. MBatat8menls can ari50 from fraud or orror and are ¢on&dÈrÈd materiql if. individually or in the aggregalÈ, they could reasonably ￿ expÈtted to inffuenc8 the econotnic decrsions of Lrsers taken on the basi8 ollhese finanaal ststements. Thè extent to which our procedu￿$ are capable of detsciing irregularities, induding fraud Is d8talleif LEIOW. Fxtentto %thiGh the audit was considered capable cFdete¢tiTrJ irregulBritses, induding fraud The olectives ef aut audil in respect to fraud, are.. t¢ identify and assess fhe risks of rn8tarial rnisst*emenl of the rinancial statemants due to fraud,. to obtaln $utficient approprvatÈ audit evidence regarding the assessed risks cf material mi5Stalemenl due lo fraud. through desiqning and implementing appropriate te3ponses". and to respond appropriately to fratsd cr 5uspe¢ted fraud identif￿d during the audtL. However. tha primory responsibility for the prevention 8nd detection offr8ud rests wilh both th05e charyed with goY2rnznce ofthp entity and its maTragemenl. Our apwg8¢h was as foliOWS'. We identified areas of law¥ and regulalitsn8 that GouEd reasonably be expe¢ted to have a material effect on the financial statements from our general ccrMier¢lal and sector experien￿. and through dlscu55ion %￿1￿ the governDf8 and other managem&nt las required by auditing standards), and discu8sed with the governaTS and other management the policies and pro¢￿U￿8 regarding cornpliance with law5 and regulations.. We identifled Ihe follo￿ng areas as thosé m031 likely to have such an etlect.. health and safety- General Daia Prote￿10n Regulation IGDPRI., Indepen¢J8nl Schools Inspectorale IISII.. fvaud.. bribery and rorru￿.on and employment law. Audibng standards limit tha required audit proc8dures to identify non-r￿mpriance wth IhesÈ law8 and r8gulalion8 to enquiry of tha gDvemots and other m8nagenwnt and inspeetioTr of r8gulwory srKI legal Correspondence, if any. We considered the legal and ￿gUlatOry frameworks direGtly applicab￿ ¢0 the finan¢lal stalemÈnts reporting fvamework IFRS 102 and th& Companies Act 2006 and the Charities Act 201118nd the relevarrt tax complianc¢ regulations in the UK,. W8 tOll5idered the nature of the oharilable o)mpanys operations. the control environmeftt and busines8 perf0rm2nts", We communicated identified laws and regulats.ons throughout ￿1r tesrn ar￿ ren)ained alert to any indicAtlons of nDn-complianc8 throughout the audit., Wa con$iLlered the proceduies and controls that th& charitsble company h8s established tD address rf$ks Identified or that othervtse p￿Vent, rfeter and Iletect fraud,. and how senior managemerrt Mon￿torS tho* programrTES and conlrvls. Based on this ￿￿erStandIng we designed our audit procedures to identify non40m￿lan￿ with such latsvs and regU￿b￿n$. W)ère the risk wss cO￿51dered to b8 higher, we PerfO￿￿ed audit proceduE5 10 8¢dr6ss each idantiried fraud risk. These procetjurés included". testing manual loutnai5', revlewing the financial statement disdosure5 snd testing trj supporting documentabon,. pertorming analytical prccedure5', and enquiring of n7anagèment, arKI wer8 designed to ra￿de reasonable as3urance Ihatthe financial stal¢rnents were free frorn freud or error. (Jving to the inherent limitations of afj audit. there 18 an unavoidabk risk that ￿ may not have delecttsd sorne materisl misslaleTnenls in the finanGial stalemenls, even though we havè propedy planned and porfomed our aufjtt in accordanc8 th 8udiling stsndards For exatnple, the further removed non1 0.54Q 214.¥1 7.B31147 14419J) iQ,e42 I,077.1￿2 7,L197, 7,451, 2.7 7.471.177 11751 1￿6Zj To 7,41,$54 113BB 7.471#42 .491 11L.3S2J 23D2Fe 271 21.17e 2.7& 1871. 2.¥4911 1T6 12.gw 314205 1FTW2 11.31P291 15.4nNIg IOTA4FW8CArfj4ÈDFO￿A9D I￿NUIN&0PERA￿aN5 cThaie r4ru)• Jhg alsowryDp5wthth Pagd 12 BETHANY SCHOOL BALANCE SHEET 31 AUGUST 2022 2022 2021 FIXED ASSETS Tangbi le assets Investments Invethentprop8rty 13 14 15 12.646.826 1,303,321 72,840,733 1,438,139 14.599,947 14.678,872 CURRENT ASSETS stocks Debtors Cash at bank 16 17 18 13,750 269,753 13,750 167.639 4 267.777 5.57$.537 4,449.166 CREDtroRS knounts falllng duewthin one year 19 12,734,164) 12,039.933) NETCURRENT ASSETS 2 842,373 2.409 233 TOTALAssgrs LESS CURRENT LIABiufiES CRED￿oRs Amounts falling due &ft8r more than one year 17,442.320 17,088,105 21 I604,￿3> ITII.8141 Ngf ASSETS 16837467 16 316 291 FUNDS Unrestricted fund5 Designated funds Reslrictsd funds Endowment fiJnd$ 13,369,819 2,992.711 473,590 1.347 25 28 27 12,938,226 315,205 197,022 2 865 838 TOTAL FUNDS 16,637.467 16 316.291 The financial ts **re approved by Board of Govemors and authorised for issue on 8nd ￿tre slgned on its behalf by.. enn- Govemor The notes fonn part of these finandal $tatsmenls Poge 13 c￿6 Z4 ?73 BETHANY SCHOOL CASH FLOW3TATEMENT FOR THE YEAR ENDED 31 AUGUST 2022 2022 2021 Note5 Cash flow¥ uperatjng a￿VItIeS Cash gfynerated operabona 1 591,485 1 364 413 cash provKJed by op8rallng activitie¥ 1.591485 Cash Ilows from Inv8Stlng athitles Purcha58 of13nglble fixed as8ets Sale Of tsngible fixe[5 assets Sale Df fixed asset investments Inco￿£ from investsnent propErty Interest received Dmdends received 13 1463,3061 1193.1591 912 2,608 17.000 6,759 26 782 14 2.774 36,500 6,614 Net cash used in inve$tlng aGbvities 287 5211 Cagh flow8 from finan¢ing a￿[Vill•S Loan repayfftent8 in year Income attribulat>le to endowment ExpeF¥Jrture 2tt1ibutable to endowmient 1166,9611 10,642 27 27 1186.5621 42.209 Net rash used in financing a¢tiviliB5 178 7071 148 376 Change In ¢ash and ca8h ¢qufvalents In the repgrting perfod Cash and cash e4ulvalents atthe beglnning of thp reportlng pBrfod 1,025.257 f,076,939 4 267 777 Cash and ¢a$h equIv￿¢ftts atthp end of the TeportiTrg period 4￿7777 The notes form part ol these financial statements Page 14 BEfHANYSCHOOL NOTES TO THE CASH FLOW STATEMENT FOR TrIE YEAR ENDED 31 AUGUST 2022 RECONCILIATION OF NET INCOME ro NET CASH PLOW FROM OPERATING ACTiVJTIES 2022 2021 Kot income for thg reporting period las porthe Statsment of Flnan¢ial Activltles} Adjusiments fvr. Deprer￿at10n charges Loss on disposal of ftr any trad¢ dI$￿unts due. Flnanclal Inslruments The School only h8s financFI a55ets 8nd finan￿al liabilities ol a kn.nd that qUJify as baslc finarrial ￿Strum￿nts tsnijer FRS102. 8asic fin8ncial insbvments are Initially recognised al transaction valu6 And 8ubwuenUy Mtrasur￿ at their settlement with the exc£ption of bank loan5 whirj) are 5ub5equenUy mgasured at amDrti5ed ￿$1 Using ffte effective interest method. Critittsl accountlng estimat85 and ludgemÈnts In the application of the Schools accounting polrie8. the Governors 8re required to make jut*ernents. estimates 8nd assutnptiDns 8bout the carying amount of a55ei$ and liabiliti&8 that are not re8rJily apparent from other sources. The esiimales and 8550tiated assumptions a￿ based on hlstoriEal experience and other laGtors that Sre cons1de￿￿ to b8 relevant. Actual reEuIts may dlffei from these è8timates. The estimate5 and underfylng 85sumption$ are reviewed on ongolng basis. Revisions ￿ a¢Gounting estimate5 are fecognised In the period in whlch the estsmate is r￿8ed. The Govemtsrs do not consider th* there are any critical e5tim8tes or area5 of judgement that r*ed to be brought ta the attention olthe leaders of the finana$l slataments. DONATIONS AND LEGACIES Unrestricted funds Designated funds Restricted rund$ End0wm￿t fund$ 2022 Totsl lunds 2021 Total funcls Donations 226,621 235,555 245.130 226.621 235.565 245.130 Pa9e 18 conynued... B￿HANy8cHa0L NOTES TO THE FINANcIALSTATEMENTS-¢on￿￿Ued FOR ThE YEAR ENDED 31 AUGUST 2022 CHARITABLE ACTtvrriES ￿n￿trthd fijnds 08slgnat•d fiJnd8 2022 Tots] funds 2021 Total fiJn(ts fvnds luftd$ School fees Regtstsation fe88 Bursaaes stholarships Hartship discount Tf8nsport Income 8,265.378 15,1 179B,9751 8,265,378 15.100 1818.2301 7,523.￿5 13.2CKJ 1805,0121 119,255) 1411951 171,531 {43,1951 171,531 1307,2471 116.063 7,653.034 43,195 19.255 7,590.584 OTHER TFADING AcnvmES Urtre&tthcted funds Designated fiJnd$ Re5tri¢ted funds Endowment funds 2022 Total funds 2021 Totsl funds Rentsl infy)rr Job retention scheme grant 128.055 I28,￿5 30,366 183.935 128.055 214 301 INVESThIEKf INCOME UnTE5tri¢#ed funds Oesigrsated fund$ Restiicted funds Endownent funds 2022 Tots] funds 2021 Total funds InLyJme from listed investhents Incow from Investrnent property Ints￿$t received 29,897 26,782 36,500 17.000 6,614 6.614 6.759 43.114 73.011 50.541 Page 19 ccfitsAUOd... BETHANY SCHOOL NOTES TO THE FINANCIAL STATÉMENTS- contlnu FOR TrIE YEAR ENDED 31 AUGUST 2022 EXPENDITURE staff Costs Depreciation Other Cost5 Total 2022 Totsi 2021 Ral8lng ftsnds Investmènt tnanagement 2,765 2.765 2,600 Fundr8i¥ing costs Total costs of ralslng funds 10.194 2,765 2,785 12,794 Charltable a¢tMtie5 Education Teachin9 COSt8 Welfate costs Premises co&ts Support ￿$ts FiThance ¢o*s Govemance costs Loss on disposal of tangible fixed asset Total charitable acllvhlos 2.853.361 216.022 683,486 681,673 19,623 334,173 611,677 1,331,819 456,505 15,784 29.265 3.￿7,157 827.700 2,432,335 1,138,178 15,784 29,265 20,758 2.666.668 674,319 2.050,047 1.049,281 15,042 23,354 417.030 20,758 4,234,543 436,653 2.799.981 7,471.177 e,478.71 Totsl exp8nditi]re 4.234 543 436,653 2,802,74$ 7,473,942 6 491,505 Gov2rnance (x)sts indude psymenls of £12,9QQ 12021.. £12,300) for au¢Éit fees and payments ol ￿00 12021.. £9,965) forother nonv8udit seNices. Net Inc0￿e bs ststed after charging £56.414 12021". £24,268> tD oper4t1r￿ lease rentals induded wilhln p￿rnises costs. £51,49812021.' £41,796) to trperating lease rentals in¢iuded wtthin teathing and supporr ¢osts and inleresl charged on bank loans of £13.29012021.. £13,439) included withln finance costs. Of costs Te&ting to rotsin9 fun¢Js. £2,765 12021. £2,6001 relates to endowment fund. Of wsts relating to charit8ble adivities, £19,62312021.. E21N231 relates to lh8 endovment fund. SUPPORT COSTS 2022 2021 Support staff c05t5 markets.ng ws Computer ￿sts Post & Staionery Staff welfare & other¥taff costs Staff recruitment Tel￿h0n& Over89?s reGruitrnent & c4)mmi88lon Professional fees Travel & $ubsistence Subscrtplan5 Miscellaneous costs 681,673 112,210 12.962 24,865 57.182 34.039 14,872 81,604 44.555 282 12,031 62,103 837,717 89,986 4.324 24,296 47,278 36.765 9,073 43,981 44,117 547 6.276 100.923 TOTAL 1.138 178 1,049 281 Page 20 continued... BgfpiANY SCHOOL NOTES TO THE FINANCIAL sfATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2022 GI)VERNORS' REIJIUNERATION AND BENEFITS None of the Governors lor sny p8rsons connected wlth them) r•ceived any Munerauon during thls year or the prioryear. Gov¢morg' expenses Two of the Governor5 were reimbu¥8ed a total of £515 for tr8vellino expenses 12021.. one mimbur88d a tolal of £55 fortravelling expenses). No amourts were due to orfrom Govemor5 atthe balan￿ sheel dab (2021.. £nill. STAFF COSTS 10. 2072 2021 Wsges and salaries SoGrJl Security costs otherpension costs 3.330,014 848,703 555.826 2,906.520 287.098 3 e84,757 The averag• monthly number olemploy8es durfng the yearwas as foll¢M'. Teaching Admlni$tration We￿3￿ premise 2022 45 31 42 2021 40 28 34 118 102 The numberof employees whose 8mploy8e benefits lex¢ludillg employerpension tos(sl exceeded £80,1]00 was.. 2022 2021 £60,ONJ-£70,000 £90,￿1 . £100,000 £110.001- £120,000 £120,001- £130,000 ContribLrtions ttrtalling £62,10512021.. È64,1681 were made during the ye8rto money purchase P￿s1On sL*ernes (x) behalf of employeeswhose employee beneffts excaed £60,000. The key managernentpetsonnel ofthe school a￿ the Headmaster, thè bU￿ar, the HR managei, the deputy he2d academie and the pastoral deputy. The totsl employee benefits induding employer5 P&￿S1on contributson$ and National Insuran￿ forthe key rnanagement personnel were £499.24312021: £479,150). During the year und8r re%qthY, ex gratia payrnents totallin9 £nil 12021.- £7,667) were made to employees in relation kn teThnination ol empleymenl pa￿ 21 continued... BETHANY SCHOOL N¢ThS TO THE FINANCIAL STATEMENTS. conOnued FOR ThE YEAR ENDEO 31 AUGUST 2022 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivmES Unrestrfcted Dasignated Restricted fvnd fund fund Endownent fundj Ttstsl funth INCOME AND ENDOWNENTS PROM Donations and1ogacie8 Gift Ald Charitsble activities Othertr8ding activities Investment incorne 84.721 70,375 1117,6691 160.4 36,613 245.130 46,988 6,540,509 214.301 6.642,751 214.301 23.759 15,427 Totsl 6.880.811 122,5731 197,022 42.209 7,097.469 EXPENDITURE ON Rai$ing funds Chant*￿É sctivlties 10,194 6.457,288 2.6 21,423 12,794 6,478.711 Yotsl 8,467.482 24,023 8,491.505 Net gains on investmef 230 488 NET INCOMEIIEXPENDITUREI 413.329 197,ff22 RECONCILIATION OF FUNDS Total I￿ndS brought fDrward 12,524,897 337.778 2,617.164 15,479,839 TOTAL FUNDS CARRIED FORWARD 12.938,226 315.205 197,022 2,865,838 16,316,291 12. TAXATION The School L8 a Regi8tere¢ Charity (number 3079371. All activities are undertaken ￿ fulfil the ptimary oblectives ofthe charity and are therefore exempi under Part 11 of the CDrpordlion TaxAd 2010. P39e 22 ntinued... BEfHANYSCHQOL NOTES TO THE FINANCIAL STATEMENTS- contlxued FOR THE YEAR ENDED 31 AUGLIST 2022 TANCIBLE FIXED ASSETS Fixtures and frtI￿ng6 Land and buildings Motor vehrles under c0nstnjr￿Oft TotaLs COST At 1 September2021 AddilioTh$ Llsposals 16.508.911 88,471 52.647 54,623 24,960 136.878 385,899 17,388.8&1 463,3( At31 August 2022 16,508 911 17 87T,593 DEPRECIATION At I September2021 Chatge lor year Elininaled on dispos* 4.291,517 342.450 425,776 &2.083 30.857 12,122 4,748,150 436.655 83.838 At 31 August 2022 4 633 967 5 170 967 NET BOOK VALUE At 31 August 2022 11874944 38,604 12 646 626 Al 31 August 2021 12 217.394 262 695 23.766 36.878 Included wlthin land buildings is freehold la￿1 of £1,591,17612021.' £1,5g1,1761 whith & notdepredaled. FIXEDASSET INVESTMEHrs Manage investrnents MARKET VALUE At 1 September2021 Disposats Revaluations 1,438,139 12,T141 At 31 August 2022 1.303 321 NET BOOK VALUE At 31 August 2022 At 31 August 2021 1.438,139 Historical cost At31 August 2022 At 31 August 2W21 1207 825 The1088 on irwestm&nts Shown ￿1h1n th• Statement ¢f Financial Activffj"e$ of £132.04412021'. gain of £230,488) umprises a ￿allS￿￿ galn of r318.2412021-. £2121 on Snvestmerrts sold during the ￿r. and an unrealised loss of e132,36212021-98in of230.2761 on invesbYEnts h8ld at fhe yearentl. A5 8t31 A￿V5t20￿, dl Investmants a￿ in.. RathborE UnitTrust Mgmt- Core Investment Fund for char￿e5 1.2￿￿,321 _ 100% Page 23 BETHANY SCHOOL NOYES TO THE FINANC]AL STATEMENTS- condnued FOR THE YEAR ENDED 31 AUGUST 2022 16. INVESTMENT PROPERTY FAIR VALUE At 1 S8ptember 2021 Revaluation 600,000 500 At 31 August 2022 NET BOOK VALUE At 31 Atsoust 2022 850 000 At 31 August2021 600,000 16. STOCKS 2￿2 2021 St£tks 13.750 17. DeBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Trade debtor8 Other debtorts Accrued income Prepayrnents 152,424 f7,652 45,648 89,8CQ 44.788 167.639 18. CASH AT BANK Unrestricted funds DEsignaÈd fvnds Restricted rund5 Endowrnenl tunds 2022 Total 2021 Total fu￿8 OpErational ca$h Mantyed in¥eslment cash 3.916,015 893,791 8.291 473,590 1.347 5.284,743 8,291 4,260,536 7,241 916 015 5 293 034 4.267 777 Page 24 continued... BFfHANY SCHOOL NOTES TO THE FINANCIALSTATEMENTS. contlnued FOR THE YEAR ENDED 31 AUGUST 2022 CREDrroRS: AMOUNTS FALLING DUEwrrHIN ONE YEAR 2022 2021 Bank loaro and overdrats Isee note 211 Trade credito Soaal security and ot￿r￿xes Fees In advan 180,0 178,044 124.767 1,369,845 180.oc 144.544 64.362 880.529 770,498 2.039.933 Fees in adv8nce repfftsent tees due forthe MichaeJm85 terni 2022 and are anatysed below In note 20. Induded in accrued expenses is a provision of £21,266 {2021..£nill relating to th¢ expecled costs reSu￿ng from the outcoma of th8 'Harpur Trust v Brazd, case. The S¢hoDI has aswsed their Ilabilfty In relatton to Qmployea vnderpayments and this has been provkJed for a¢¢oriJingly In the flnandal statements. 20. FEES IN ADVANCE Bai•ne• st 1 September2021 880.529 Fees Trlea6ed during the year (￿0,529) Fe￿ d¢ferred durirg the year 1389 845 Batance at31 August 2022 21. CREDITORS: AMOUNTS FALLING DUE AF7ER MORE THAN ONE YEAR 2ry21 Bank bans Isee note 221 771.814 Pagé 25 continuerj... BETHANY SCHOOL NOTES TO THE FINANCIAL STATEMENTS. contlnued FOR THE YEAR ENDED 31 AUGUST 2022 LOANS An analysis Df Ihe tnatutity Df102ns is glven 2022 2021 AmauTrts falling *)ne year on demand.. Bank loans 180 000 180.000 Amounts falling betWEen one and Iwa year5.. Bank loans- 1-2 years 180 000 180,000 Arnounts falling due be￿n ￿ and five years.. Bank loans- 2-5 years 424 853 Amouftts falling due In mre than five years.. Repayable by irol8lments'. Bank loans mofe 5 yÈars The bank bans are secured by 8 fixed charge ovgr certain freehold propertses. At Ihe year Qnd this charge amounted lo 33Vo12021. 4￿1￿) of the cost ofthe freehold prDperbes. Dgtails of bank Loans are 88 follows.. Loan-£784,8S3- inlerest charged 811.18% 8bove b88e, repayable by 3110112027. 23. LEA51NG AGREEMENTS Minimum laa￿ payrnenls under non-call￿118ble operakn'rg ￿aSe$ tsll due a8 folbws= 2022 2021 Within one year Bet4veen c￿e and five yE8rs 74,776 105.620 174.070 Page 26 eontinued... BETHANYSCHOOL NOTES TO YHE FINANCIAL STATEMENTS-continued FOR THE YEAR ENDED 31 AUGUST 2022 ANALYSIS OF ASSETS BETWEEN FUNDS Unrestrided nd D88ign8t8d fund Restricted fund F￿ed a&8ets InVestr￿nIS Current assets Current liabilities LorvJ tem liabiuties 11.859.318 6S0,C￿0 4.199.518 12.734,164} 787,308 1,303,321 g02,082 473, 13369819 2992711 473 590 2022 Total funds 2021 Total funds Endownent nd8 Fixed a¥sets Investments Current assets Cutrent lÈabilities Long tem Ilab111ts6S 12,646,e2e I,g53.321 5,576.537 12.734,1641 12,640,733 2.038,139 4.449.188 12,039,933) 771.814 1.347 16837467 le 316 291 2S. DESIGNATED FUNDS The In¢omB fijnds ofthe ch8rfty Inclllde the ILll¢Mng designated fundswhich have been Set a￿de OLrt of unrestrthd funds by the G?vemo¢s forspeofic purpo885'. Balance at 1 September 2021 In¢ome ExpÈndRure Transfers 8alanc8 at 31 August 2022 Spècisl projects Hardship ChrfstopherJ8ckson fund 150,OLhJ 163,205 150,000 122,010 2 720.701 43,195 2.720 701 315,205 43.195 2.720 701 2,992.711 DesvJnated funds repte5ent8mciunts set as*Je forspeclal prcieds at th8 discretion ofthè Govemots. The Gov8mor* agreed t) set aside 8 hsthhip fund in the year ended 31 August2020. The purpose of fvnd is to provida a￿￿￿onal faè aS4k8tsnce to parents who were ad￿r8elY affected by Covld-19. Folltivring an extensive revlew of the history Df Ihe ChiistDpher JaGk50n EndowtnETrt Fund, disujssions Charity legal adwsor3. il ha8 been agreed that thk% fiJnd is not an e￿0￿ment fijnd and therefore the GovemoE8 have gwen p8￿ls810n ftlr R to be Iransfeffed to s designated fund. be known as the Chrisiopher Jackson Fund, with effectfrom this ffinancial peri¢LI. Page 27 continued... BETHANY SCHOOL NOTES TO THE FINANCIAL STATEMENTS. contlnue FQR THE YEAR ENDED 31 AUGUST 2022 26. RESTRICTED FUNDS The incom& fuThJ5 of the charity include the ftstrkmng restricted fund$ which have ￿t¥￿tIonS on thelrusage unposed by the donors.. Balan* at 1 SepteM￿r 2021 Incorn8 ExP8r￿liU Transf& 8alanrè at 31 August 2022 Performing Arts Centre 276 473 590 276.568 473.590 Tre Perfonlling Arts CEntre fund relates to d¢nations specifically donated to fund the con$trucOon of the Performing Arts Cenlre. 27. ENDOWMENTFUNDS The income funds of the tharity include the following endowrn&nt fvnds whth have t¢en Set aside (*Jt of unreslricied fund8 by thÈ Governors for$pe¢ific purptsse8'. Balance al I September 2021 Income Exp8nditur& Tran5fets Investment Balance at 31 Gain$1 Augu$t20 L055es Pemianent endowments Jane Tomkin50n Expendable endowments C J Endowment fu 1,347 1,347 2.864,491 10.842 22,388 12.720.701) (132,0441 2,865 838 10,642 2 720.701 The pemianentendowment funds comprise the Jane Tom￿nSOn Art 8ursary. The Governc>rs h3v8 agreed to investThents in an expendable &ndowment fvnd. Any oains OT 1088es of the nvestsnent8 form part of thtr fund. The incame in the C J Endowment fund represents the sGhooV6 dividend and Interest income of £29.897 (2021.. £33,541) for inve$trnents held 89 part of Ihe endowmeni fund, bursaries and scholarships of 1£19.255112021'. £14.9271. The expenditur& in the fund compn8Ès £2,765 12021.. £2.6001 of investment rnanagernent fees, "nil 12021.. £1.8001 ofprop&rty costs and £19.62312021." £19,623) of depreciabEtrn. As per note 25. the C J Elld0￿rnen¢ fund was transferred to 0&8ignated funds at the year end 8nd is now known as th& Chr*topher Jackson fufjd. Page 28 continued... BFThANY SCHOOL NOTES TO THE FINANCIAL STATEME1￿8. contlnu8d FOR ThE YEAR ENDED 31 AUGUST 2022 EMPLOYEE BENEFIT OBLIGATIONS Th8 Sehool partr(¥pates in the Teach8rs' Pen51cn sch￿ fth8 TPS'I for tts taachirYJ staff. The pension rA)aTg8 fer the yoar lrt¢)udes tt)trtribution8 payable to the TPS of £436.66812021.. £393.61n and at the year-end £51.137 12021.. £45,825) was accrued in r8StECtof cpntrfbutiOnS to this seherne. The TPS ts an unturxled muttkemployer defined benefits pension stheme govemed by The Teachars. Pen￿0￿$ Re9ul8tion$ 20101& amended) arA The Teathets, Pension S¢￿￿e Regulations 2014 la5 ame￿ed). Mernbers contribute on a Tr8y as you go" basis with contribubons from member5 and th* ernployer teing cxedited to the Exckwuer. Rat￿ment and céherpension benefits are paid by publ￿ (unts pyovidtd by Parfiament. The employer eontribution rate is 8Qt by the S2crÈtsry of State lollowng stheme Valuat￿n$ undertaken by the Gjvgrnment Actuatys Department The most recent aduarial valuation ofthe TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in Mareh 2019, c4nfirMod that the empl¢yer confribution rbte for the TPS would sn¢rease from 16.40A to ￿_6trA from 1 September 2019. Ernployets 8r8 also required to pay a stheFne admlnlstralon lewy of 0.08% gMn9 3 totsl employer contri>ution rata of 23.68%. The 31 Match 2016 Valuation Reptsrt was prepared in accordan￿ with the benefits set out in the stheme regulations and undèr the approach Spear￿ in Direetions, as they 8pplied at 5 March 2019. However, the a8sumpbDns MEre wnsidered and set by the Dep8rtment for Education prior to thè njling in the 'McCloudlSargEant case,. case has r4uired the courts to consider ca$8s regarding irnpiemantat¢)n of th¢ 2015 lef0rn￿ to Publi¢ Semce Pensions indsjding the Teacher5. Pension$. On 27 June 2019 the Supretne Court denled the govemment térrnission to appeal the Court of Appeals judgment that transitional pwsions Introduced to the refr)rrned pensipn schemes in 2015 gave rise to tmlawful age discrimSnation. The govemment Is respecting the Court's decIS￿l￿ and has said it wni engage fully with U)e Employme￿1 Tribun£l as wèll zs employer and member representstives to sgree how the discriminations ￿11 be remedied. The govemment announced on 4 February 2021 that it irrtends to pmreed vrith a deferred Ghts￿e underpin under Mhich rn8mbers will be able to choos? etther legacy or reformed sthème beneffts in respEct ot theirservir* during the period betweeTr I Ppril 2015 and 31 March 2022 2tthÈ pointthey b&come payable. The TPS is subject te a ￿$t op rnech8ni8m vthich w88 Put in place to protect taxpayers 8gainst un*orese•n chawes in scheme costs. The Chief Secretsry tD tha Treasury. having ITr 201B announ￿ that there would be revlew of thi4 ￿$t ¢ap rnechani5m, In January 2019 announod a pause to the cost mechanisrn following the Ctrurt of Appèals rufing in the Mcctoudlsatyeanl case and unbl there L% certainty about the v£lue of pensions tD employees from Apnl 2015 onword$. Th2 pause was Ilfted in July 202D, and a con8vttation was launched on 24 June on proposed Changes to the eost control mechanisrn bllowng a r8view by the Government A¢tUOry. Follo¥%fng 8 public eensultation, Ihe Govemment have a¢￿pted three key proposals recornmended by thè GovernmentActuary and are airning to xnplernent these ¢hanges in time lorthè 2020 valuallons. The 2016 cost control valu8tion$ have since b*n Gomp1eted in January 2022, and the ￿sUlts indicated that there would be no ¢hsnges to benefits or membei contributiorE required. The results of the cost cap valuaticn Aro not Used to sèt the empbyer contribulSon rate. and HM T￿$SUry has confirmed that 8ny ¢haNJes fo ihe employer contnbution rat8 rÈsulUng from the 2020 V￿U8￿On$ will take plsce in Aprfl 2024. Untti the 2020 valuation Completed it Is not possibIa to cDndu¢Je on any fjnanoal impact or future thanges to the Contributi￿ rates of the TPS. Arxordingty. no provi$roft for any additK>nal past ben8fit pension costs k8 induded in these ffn8nraal statements. CAPITAL Cc￿MITmENTs Ai the balanc£ sheet date. the sthool had capti81 (xmfflitments in re¥pect of the en8bling works for the Perforrning ArL8 Centratotslling £1￿.000. Pag¢ 29 conltnued... BETHANY SCHOOL NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 AUGUST 2Q22 30. RELATED PARTY DISCLOSURES Total donauons received from r8late(I parbes during the year ernded 31 August 2022 arnounted to £24,80012021'. £￿0). During the year under review, fJ2,641 I2￿21.. £12,028) w85 paid to Lcoking Glass MaTkeung ￿rllfted in respect of Fll8rketing seNice5. Mr D Shaw, a g(wemor of the School, holds shares in Looking G1*8 Marketing Limlled. As at 31 August 2022, the School the company £4,20012021.. £1,e841. Ther8 ￿re tK> further related party transacbon$ during the yeaT Other than those with Govemors as detailed tn note S. 31. ULTIPILATE CONTROLLING PARTY The company, wF¥¢h is registered in Eroland & Wales. 18 limiled by guarantee and has no share capital. In the event of the charfty being wound up and unable to meet its liabilities, each of the Governors undertakes to ¢ontribute gJ¢b amounts a5 may te required up 10 8 rnaxlmum of 21. 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