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2023-08-31-accounts

Page
Highlights
ofthe Year		 2
The Annual
Report ofthe Governing
Body for year		 ended 31August 2023
independent
Auditor's
Report tothe Governors		 16
Consolidated
Statement of Financial Activities		 19
School Statement of Financial Activities 20
School and Consolidated
Balance Sheets		 21
Consolidated
Cash Flow Statement		 22
Notes to the Accounts for the year ended 31August 2023
Prior year Consolidated
Statement of Financial Activities		 42
Prior year School Statement of Financial Activities 43
Legal Structure
and Governance
Arrangements		 44
Governors,
Officers, Committees
and Professional		 Advisers 46

Unrestdicted Funds Restricted Endowed Total Total
School Other Funds Funds Funds 2023 Funds 2022
Notes E'000 E'000 E'000 E000 6'000 E'000
Income and endowments
fmm;
Charitable
activities
School fees receivable
Other educational
income
Ancillary
trading
income
Other trading activities		 2(o)
4		 42,613
2,044
278		 (76) 42,537
2,044
278		 40,272
1,996
201
Activities for generating funds;
Trading Companies
Other incoming
resources		 1,456 1,456
0		 1,226
Investments
Investment
Income		 8c 74 206 280 294
Bank and other interest
Voluntary
sources		 Bc 330 11 341 33
Grants and donations
Total Income		 91
45,356		 1,530 121
262		 2,110
2,110		 2,322
49,258		 209
44,231
Expenditure
on:
Raising funds
Trading Compa mes 1,095 1,095 809
Expenditure
on raising funds		 307 13 320 166
Financing
Costs		 1,720 1,720 1,533
Total deductible
costs		 6o 2,027 1,095 13 3,135
Net income
Available
for charitable
apphcation		 43,329 435 249 2,110 46,123
Total charitable
expenditure		 66 44,877 44,876 38,381
Total Expenditure 46,904 1,095 12 48,011 40,889
Net incommg
funds from operations
before transfers
and investment		 gains (1,548) 435 250 2,110 1,247 3,342
Gams/(Losses)
on Investments		 Bo (35) (4) (98) (137) (996)
Iransfers
between
funds		 12d 343 3,340 (3,683)
Net income and capital Inflow 2,535 l3,4371 2,012 1,110 2,346
Revaluation
of tangible
fixed assets		 357 362 1,316
NET MOVEMENT
IN FUNDS FOR YEAR		 2,892 (3,432) 2,012 1,472 3,662
Fund balances at 1September 2022 46,259 5,532 32,151 83,942 80,280
FUND BAlA NCES AT31AUGUST 2023 12 49,151 2,100 34,163 85,414 83,942

Unrestricted Funds Restricted Endowed Total Total
School Other Funds Funds Funds 2023 Funds 2022
Notes E'000 6'000 6'000 E'000 E'000 E'000
Income and endowments
from:
Charitable
activities
School fees receivable 2(o) 42,613 (72) 42,541 40,264
Other educational
income		 4 2,044 2,044 1,996
Ancillary
trading
income		 4 278 278 201
Other trading activities
Activities
for generating		 funds:
Trading Companies 3 361 361 303
Investments
Investment
Income		 Bc 74 198 272 283
Bank and other interest Bc 330 330 31
Voluntary
sources
Donations
and legacy		 91 121 2,110 2,322 209
Totallncome 45,356 434 247 2,110 48,147 43,287
Expenditure
on:
Raising funds
Expenditure
on raising		 funds 308 13 321 166
Financing
Costs		 1,720 1,720 1,533
Total deductible
costs		 6a 2,028 13 2,041 1,699
Net income
Available
for charitable
apphcation		 43,328 434 234 2,110 46,106 41,588
Total charitable
expenditure		 66 44,895 44,898 38,392
Total Expenditure 46,923 16 46,939 40,091
Net income from operations
before transfers
and investment		 gains (1,567) 434 231 2,110 1,208 3,196
Net Gains/(Losses)
on Investments		 Bb (35) (98) (133) (965)
Transfers
between
funds		 12d 3,701 (3,701)
Net income and capital Inflow 2,533 (3,470) 2,012 1,075 2,231
Revaluation
of tangible
fixed assets		 7 357 357 1,316
NET MOVEMENT IN FUNDS 2,890 (3,470) 2,012 1,432 3,547
Fund balances at 1September 2022 46,248 4,773 32,151 83,172 79,625
FUND BALANCES AT31AUGUST 2023 12 49,138 1,303 34,163 84,604 83,172

Consolidated Consolidated School
31August 31August 31August 31August
Iyotes 2023 2022 2023 2022
6'000 E'000 E'000 E'000
FIXEDASSETS
Tangible
assets		 7 133,307 126,796 133,057 126,551
Investments 8 10289 10426 9973 10106
143596 137222 143030 136657
CURRENT ASSETS
Stock 538 431 103 90
Debtors 3,797 1,880 4,426 2,026
Short-term
Investments
Cash at bank and
in hand		 1,290
~4429
~10054		 1,290
11008
14609		 1,290
~4150
~9969		 1,290
10988
14394
CREDITORS:due withinone year 10a ~18641 ~17075 17 065
NET CURRENT LIABILITIES 8587 2466 8 831 2 671
Other Loan (40,000) (40,000) (40,000) (40,000)
Deposits &Accruals
Advance
Fees
CREDITORS:due after one		 year 11
100		 (9,004)
~591
~49595		 (9,970)
~844
50814		 (9,004)
~591
49595		 (9,970)
~844
50814
TOTAL NET ASSETS 85,414 83,942 84,604 83,172
ENDOWED FUNDS 12o 34,163 32,151 32,151
RESTRICTED FUNDS 126 2,100 5,532 1,303 4,773
UNRESTRICTED FUNDS
Designated
and general		 funds 12c 49,151 46,259 49,138 46,248
12 85,414 83,942 84,604 83,172

31August 2023 31August 2022
6'000 6'000 6'000 EOOD
Note
Cash flows from operating activities 15 1,567 6,722
Cash flows from investing activities
Investment
income receipts		 621 327
Purchase oftangible
fixed		 assets (6,605) (6,893)
Purchase ofinvestments
(5,984) (6,566)
Cash flows from financing activities
Finance costs paid (1,720) (1,533)
New fees in advance
money		 434 598
Discount allowed to parents (9) (7)
Amounts
utilised from Advanced
Fees
(2,162) (1,858)
Increase/(Decrease)
in cash in the year		 6579 1702
Cash and cash equivalents at beginning ofthe year 11,008 12,709
Cash and cash equivalents at end ofthe year 4,429 11,008

2023 2022
6'000 6'000
(a)The School's fee income comprised:
Grass Fees
Less: Total bursaries,		 grants and allowances 44,514
~1972		 41,781
~1517
42,541 40,264
Add back: Scholarships, grants, etc. paid by trust fund
42 537 40 272
In addition, the Ol d King's Sc holars' Trust contributed
625k towards
pu		 pils' fees during t he year (202
2023 2022
6'000 6'000
(b)Grants, awards and prizes paid for by Restricted Funds comprised:
Scholarship, grants etc. 312
Prizes, exhibitions and leaving awards
76 317

School are ex School are ex duded
from		 the consolidated
resu		 lts.
At year end 6639		 k was owed t
King's School Enterprises Ltd 2023 2022
Total Total
E'000 E'000
Turnover 1,064 976
Cost of sales (647) (524)
Gross Profit 417 452
Administration expenses 273 353
144 99
Reserves 8/F 0 (83)
Transfer to Parent Charity under Gift Aid (144) (16)
Reserves C/F
The Kings School, Canterbury School, Canterbury (International) Ltd 2023 2022
Total Total
E'000 E'000
Royalties Received 392 250
Administration expenses 175
217 204
Reserves B/F
Transfer to Parent Charity under Gift Aid (217) (204)
Reserves C/F

Cleary Blackfriars Trust 2023 2022
Total Total
6'000 6'000
Total Income/Investment movement 38
Cost ofgenerating
funds
Charitable
activities		 (12)
Governance
Costs		 1
Total Expenditure 10
Net Income 29
Reserves
8/F		 769 758
Reserves
C/F		 797 769
4
OTHER INCOME
Consolidated School
2023 2022 2023 2022
6'000 1'000 6'000 E'000
Charitable
activities - Other income
Entrance and registration fees 110 238 110 238
Deposits & fees forfeited 343 447 343 447
Pupil Social Centre 90 90 90 90
Recreation
Centre		 1301 1221 1501 1221
2,044 1,996 2,044 1,996
Other ancillary
activities
Insurance
commissions		 3 22 3 22
Lettings, property
rentals and other
King's Week income
Profit/(Lass)
re Sale ofAsset		 income 238
41
~4		 139
40		 238
41
~4		 139
40
278 201 276 201
Other incoming resources
Covenanted
income from		 subsidiary company 361 303
361 303
Voluntary
sources
Donations 312 209 312 209
Legacy 2010 2 010
2,322 209 2,322 209

Consolidated school
2023 2022 2023 2022
E'000 E'000 E'000 E'000
Charitable Activity expenditure Includes:
Refurbishment
of buildings		 & pupil accommodation 1,250 1,034 1,250 1,034
Governance expenditure Includes.
Auditors remuneration:
for audit services 30 40 30
for other services 3 3
40 33 40 33
Wages and salaries 24,118 20,281 24,074 20,159
Social secunty costs 2,245 1,924 2,242 1,914
Pension contnbutions 3144 2 802 3 142 2 795
29,507 25,007 29,458 24,868
2023 2022
E'QM f'000
Aggregated employee-benefits of key management personnel 1,023 1,501
2023 2022
E'000 f'QQQ
Termination and redundancy payments 72 93

2023 2022
The number of higher paid employees
wasi'		 No. No.
Taxable
emoluments
band:
E60,001-E70,000 34 23
E70,001- E80,000 15 11
E80,001-E90,000 9 8
E90,001 E100,000 4 1
8100,001-6110,00D 1 1
6130,001-6140,000 1
8160,001-6170,000 1
6200,001-6210,000
E300,001-E310,000
E43D,001-E440,000
The number with retirement
benefits
accruing		 in
-Teachers Pension Scheme was 57 40
-Defined
Contribution		 Scheme was 9 6

Staff
costs Other Costs Depreciation Total
E'000 E'000 F.'000 E'000
(a) Costs ofgenerating funds
Financing costs 1,720 1,720
Fundra ising for voluntary resources 203 117 320
Financing costs under Advance Fee Contracts 0
Total for Charity 203 1,837 2,040
Trading costs of the subsidiary 133 962
Total for Group 336 2,799 3,135
Total for Charity 2022 106 1,593 1,699
Total for Group 2022 2,264 2,508
Staff
costs Other Costs Depreciation Total
E'000 E'000 E'000 E'000
(b) Charitable activities
Teaching costs 17,450 3,075 764 21,289
Welfare 4,153 2,456 156 6,765
Premises 4,144 7,911 209 12,264
Support costs 3,711 1,475 (675) 4,511
School's operating costs 29,458 14,917 454 44,829
Grants, awards & prizes 3 3
29,458 14,920 454 44,832
Governance Costs 66 66
Total for Charity 29,458 14,986 454 44,898
Subsidiary expenditure 49 (71) (22)
Total for Group 29,507 14,915 454 44,876
Total for Charity 2022 25,193 11,807 1,392 38,392
Total for Group 2022 25,193 11,796 1,392 38,381

Subsidiories Subsidiories
Freehold
Property		 Assets under
Construction		 Leasehold
Property		 Furniture
&
Equipment		 Vehicles Charity
Total		 Freehold
Property		 Vehicles Group
Total
E000 E'000 E'000 F.'000 E'000 6'000 E000 E 000 6000
Cost or Valuation
Balances as of 1September 2022 105,505 14,106 5,553 5,806 99 131,069 245 6 131,320
Transfer of Assets 12,813 (14,665) 1,563 289
Additions 584 5,250 63 708 6,605 6,605
Revaluations 236 121 357 362
Disposals (184) (184) (184)
Balance as at 31August 2023 119,138 4,691 7,300 6,619 99 137,847 250 6 138,103
Accumufated
depreciation
Balances as of 1September 2022 512 77 3,830 99 4,518 6 4,524
Charge for the year 446 78 932 ~ tdf56 27756
Revaluation
write
back		 (848) (1551 - - (1,003) (1,003)
Disposals (180) - (180) (180)
Balance as at 31August 2023 110 4,582 99 4,791 6 4,797
Net Book Value
Balance at 31August 2023 119,028 4,691 7,300 2,037 - 133,056 250 - 133,306
Balance at31August 2022 104,993 14,106 5,476 1,976 - 126,551 245 - 126,796

Designated Restricted Endowment Endowment Investment Investment
(a) Consolidated Funds Funds Funds Properly Total
6'000 6'000 E'000 E'000 F.'000
At Valuation
Balance as at I September 2022 2,793 320 7,313 10,426
Additions
Disposals/redemption at par
Reahsed (gains) / losses
Unreahsed gains/
(losses)		 (35) l4) (98) (137)
Transferred to Short term investment
Balance as at 31August 2023 2758 316 7215 10289
Investments are in UK held Sarasia Alpha CIF for Endowment (Income Funds)
Bonds —UK 1,470
Bonds - Overseas 32
Equlb/ 6,934
Property 417
Other Investments 1,004
Liquid Assets 432
10,289
Short term Property Investment 1290
Historic Cost 11,579
~t
Designated Restricted Endowment Investment
(bl 5chool Funds Funds Funds Properly Total
C000 6'000 6'000 E'000 6'000
At Valuation
Balance as at 1September 2022 2,793 7,313 10,106
Dares lised gams / (losses)
Iransferred
to Short term		 investment (35) (98)
0		 (133)
Balance as at31August 2023 2,758 7,215 9,973
Histonc Cost ~42
(c) Consolidated scliaol
2023 2022 2023 2022
6'000 1'000 E'000 E'000
On listed investments (iac Oilts) 280 294 272 283
Interest an cash deposits held for investment 341 33 1
621 327 602 314

Consolidated School
2023 2022 2023 2022
E'000 E'000 E'000 E'000
Pupil debtors 579 605 579 605
Other debtors 636 583 344 221
Prepayments & Accrued Income 2,582 692 2,582 439
Amounts owed by subsidiary undertakings 921 761
3,797 1,880 4,426 2,026
10a CREDITORS due within one year
Consolidated School
2023 2022 2023 2022
E'DOD E'000 E'000 E'MD
Trade creditors 2glS 884 2,409 1,096
Due to subsidiary undertakings 242 215
Other creditors 974 901 928 876
Tax&Senal security costs 722 640 704 619
Deposits & Accruals 6,813 6,631 6,800 6,240
Fees received in advance 7,058 7,171 7,058 7,171
17,982 16,227 18,141 16,217
Advance fees (note 11) 659 848 659 848
18,641 17,075 18,800 17,065
10b CREDITORS due after one year
Consolidated School
2023 2022 2023 2022
E'000 E'DDD E'000 E'000
Other
Loan		 40,000 40,000 40,000
Deposits & Accruals 9,004 9,970 9,004 9,970
Advance fees (note 11) 591 844 591 844
49,595 50,814 49,595 50,814

2023 2022
6'000 6'000
After 5 years
Within 2to 5years 307 490
Within 1to 2years 284 354
591
Within 1year 659 848
1,250 1,692
2023 2022
6'000 6'000
Balance as at 1September
2022		 1,692 2,016
New contracts
Discount
Allowed		 to Parents 434
~9		 598
~7
2,117 2,607
Amounts utilised in payments of fees (867) (915)
Balance as at31August 2023 1,250 1,692

Net current long-term
Consogdated Fixed Assets Investments liabilities liabilities Total
E '000 E '000 E'000 E'000 f'000
Endowment funds 24,510 7,215 2,438 34,163
Restricted funds 250 316 1,534 2,100
Unrestricted funds 108,547 2,758 (11,828) (50,326) 49,151
133,307 10,289 (7,856) (50,326) 85,414
Advance fees
133,307 10,289 (7,265) (50,917) 85,414
Net current long-term
School Fixed Assets Investments liabilities liabilities Total
E '000 f'000 E '000 E '000 6'000
Endowment funds 24,510 7,215 2,438 34,163
Restricted funds 1,303 1,303
Unrestncted funds 108,547 2,758 (11,840) (50,326) 49,138
133,057 9,973 (8,099) (50,326) 84,604
Advancefees
133,057 9,973 (7,508) (50,917) 84,604

128
E		 N DOWE D FUNDS: MO VEMENTS IN THE Y EAR
Balance Investment Balance
1Sept Incoming Resources gsins/(losses) 31Aug
2022 resources expended revaluations Transfers 2023
F.'000 E'000 E000 E'000 E'000 E'000
Permanent endowments:
Foundation capital 5,806 52I06
Revaluation Reserve 18,704 18,704
Otherspecisl trusts:
I Corner 807 (11) 796
Edmondson Noakes 244 Pl 241
Scholarship, Exhibitions &Pnze Fund 2,010 (27) 1,983
leonore Pleuger Bursary Fund 112 (2) 110
Heym
an		 12 12
Chary Scholarship 113 (2) 111
Foundation Endowment 1,873 2,110 (22) 3,961
Goodes Bursary Fund 550 (7) 543
T&J Venner Bursary Fund 1920 1896
32,151 2,110 (98) 34,163

Investment
Balance gales/(losses) Balance
1Sept Incoming Resoumes & 31Aug
2022 resources expended revaluations Transfers 2023
E 000 E '000 E '000 E '00D E '000 6'000
J Corner 4 22 (26)
Edmondson Noakes 1 7 (8)
Scholarship, Exhibitions & Pnze Fund 132 54 (3l 183
Leonore Pleuger Bursary Fund 1 3 (4)
Esme Chafy 3 (3)
Foundation Endowment Income 45 45
Goodes Bursary Fund 15 (18)
Foundation Scholarship &Bursary Term Fun 25 (13) 12
Restncted
Bursary Funds		 426 11 437
Music
Foundation Music School
Foundation Sports 41 41
Foundation Other Funds 120 26 (I 3) 133
Schools Partnerships Worldwide
Kings Appeal -Building Development
Science Centre 3,624 55 (3,679)
Malthouse
-
Venner		 Drama 20
10		 2
49		 (22) 59
Junior King's Appeal 45 47
JKS Swimming
Pool		 346 346
School Total 4,773 319 (88) (3,701) 1,303
Cleary Blackfriars Trust 759 30 1 18 797
Consolidated total 5,532 349 (99) 1 (3,683) 2,100

Balance Investment
1sept Incomln6 Resources gains/(losses) Balance 31
2022 resources expended revaluations Transfers Aug 2023
E '000 E 'QQQ E '000 E 'QQQ E '000 6 '000
Designated
School Scholarship &Bursary Fund 11,868 74 11,942
Beerhng Hall 25 25
General
Fund		 21,722 45,356 (46,923) OS) 4,063 24,183
Revaluation Reserve 12,644 357 0 13,001
46,259 457t30 (46,923) 322 4,063 49,151
Nun-chantable tradmg funds 1,456 (1,076) OBQ)
46,259 (47,999) 322 3,683 49,151

12EI
TRANSFERS
Unrestricted
School Other Restricted Endowed Total
E'000 E'000 E '000 E '000 E.'000
Science Centre 3,679 (3,679)
Restricted Bursaries
Malthouse
Drama		 22 ~22
School 3,701 (3,701)
Deed of covenant 144 (144)
Cleary 8lackfriars Trust (18) 18
Transfers to Restricted
Kings School international Ltd 217 (217)
Consolidated 343 3,340 (3,683)

2023 2022
6000 f000
Amounts Due within one year 336 393
Amounts due between one and five Years 751 780
Amounts due after Five Years 123 198

o yer's
con		 tribution
of10%(o
". T.424)gyg. III)ITeh@ILB ' ~"
Staff School
534%
& 7.5% 10.00%

31August 2023 31August 2022
F. '000 6 '000
Net incoming
resources		 1,247 3,342
Depreciation 1,455 1,389
Depreciation
writeback		 on revaluation (1,003)
Investment
Income		 (621) (327)
Finance and other costs 1,720 1,533
Decrease/(increase) in stocks (107) (31)
Decrease/(increase) in debtors (3,237) (736)
Increase/(decrease) in creditors 1,756 2,356
Increase/(decrease) in deposits 357
Net cash inflow from group operations 1,567 6,722

16
ANALYSIS OF CHANG		 ES IN NET CASH RES OURCES AND DEBTOF TH
As at As at
31August 2022 Cash flow 31August 2023
8 '000 8 '000 E '000
Cash m hand and at bank 11,008 (6,579) 4,429
Other Loan (40,000) (40,000)
Net cash outflow from group operations (28,992) (6,579) (35,571)
Advance fees due wrthin one year 11 (8481 189 (659)
Advance fees alter more than one year 11 (844) 253 (591)
(30,684) (6,187l (36,821)

Unrestricted FundsRestrlctedEndowed FundsRestrlctedEndowed FundsRestrlctedEndowed Total Total
School Other Funds Funds unds 2022 Funds 2021
E'000 E'000 E'000 E'000 F.'000 E'000
Income and endowments
from:
Charitable
activities
School fees receivable 2(oj 40,589 (317) 40,272 35,008
Other educational
income		 4 1,996 1,996 1,780
Ancillary
trading
income		 4 201 201 197
Other trading activities
Activities
for generating		 funds:
Trading Companies 1,226 1,226 764
Other incoming
resources
Investments
Investment
Income		 Bc 78 216 - 294 250
Bank and other interest Sc 31 2 33 6
Voluntary
sources
Grants and donations 90 61 58 209 1,196
Government
Grants
Furlough
Grant		 997
Total Income 42,907 1,304 (38) 58 44,231 ~40 198
Expenditure
on:
Raising funds
Trading Companies 809 809 519
Expenditure
on raising funds		 161 166 161
Financing
Costs		 1,533 1,525
Total deductible
costs		 6o 1,694 809 2,508 2205
Net income
Available
for charitable
application		 41213 495 (43) 58 41,723 37,993
Total charitable
expenditure		 6b 38,369 12 38,381 34,205
Total Expenditure 40,063 809 17 40,889 36,410
Net incoming
funds from operations
before transfers
and investment		 gains 2,844 495 (55) 58 3,342 3,788
Gains/(Losses)
on Investments		 84 (254) (31) (711) (996l 1,032
Transfers
between
funds		 12d 182 (220) 38
Net income and capital Inflow 3,047 (48) (653) 2,346 4,820
Revaluation
of tangible
fixed		 assets 1,316 1,316 1,634
NET MOVEMENT
IN FUNDS FOR YEAR		 4,363 (48) (653) 3,662 6,454
Fund balances at 1September 2021 41,896 5,580 32,804 80,280 73,826
FUND BALANCES AT31AUGUST 2022 46,259 5,532 32,151 83,942 80,280

Unrestdicted Funds Restricted Endowed Total Total
School Other Funds Funds unds 2022 Funds 2021
6'000 6'000 6'000 E'000 E'000 E'000
Income and endowments
from:
Charitable
activities
School fees receivable 35,460 (439) 35,021 33,971
Other educational
income		 1,805 1,805 1,234
Ancillary
trading
mcome		 197 197 162
Other trading
activities
Activities
for generating		 funds:
Trading
Companies		 218 258 476 118
Investments
Investment
Income		 74 165 239 248
Bank and other interest 6 40
Voluntary sources
Donations
and legacy		 101 773 322 1,196 2,642
Government
Grants
Furlough
Grant		 978 978 2 444
Total Income 38,765 332 499 322 39,918 40,859
Expenditure
on:
Raising funds
Expenditure
on raising		 funds 137 24 161 311
Financing
Costs		 1,525 1,525 1,641
Total deductible
costs		 1,662 24 1,686 1952
Net income
Available
for charitable
application		 37,103 332 475 322 38,232 38,907
Total charitable
expenditure		 34,232 34,234 37,036
Total Expenditure 35,894 26 - 35,920 38,988
Net income from operations
before transfers
and investment		 gains 2,871 332 473 322 3,998 1,871
Net Gains/(Losses)
on Investments		 305 692 997 374
Transfers
between
funds		 (3,701) (3,701)
Net income and capital Inflow 3,508 (3,228) 1,014 1,294 2,245
Revaluation
of tangible
fixed assets		 2,852 (1,219) 1,633 (221)
NET MOVEMENT
IN FUNDS		 6,360 (3 228) (205) 2 927 2,024
Fund balances at 1September 2021 35,838 4,368 33,009 73,215 71,191
FUND BALANCES AT31AUGUST 2022 42,198 1,140 32,804 76,142 73,215