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2022-07-31-accounts

Company No: 1091938 Charity No: 309099 Luckley House School Limited Annual Report and Accounts For the year ended 31 July 2022 Luckle HOUSE SCHOOL. Luckley House School (A Charitable Company Limited by Guarantee)

Lucldey House School Limited Mission and Vision for the year ended 3 I July 2022

Mission

The mission is to provide a Christian education for boys and girls of secondary school age, both day pupils and boarders, characterised by academic excellence, a rich and diverse range of opportunity, aspiration and enthusiasm for life, and generosity of spirit.

The School is designated Church of England, Evangelical under the Designation of Schools Having a Religious Character (Independent Schools) (England) (No.2) Order 2004 and is closely linked with Church Society.

The School is built on the foundations of love and service and aims to equip pupils to live their lives well.

Vision

The School welcomes pupils from all faith backgrounds and none, believing that its Christian ethos provides the best possible basis and context for developing their gifts and abilities, their stature as individuals, and their characters as responsible members of society.

The School's vision is for pupils to grow into maturity intellectually, physically, socially and spiritually, to become capable and influential young people, and to be equipped to live their lives to the full.

Lucldey House School

Luckley Road Wol<ingham RG40 3EU

w.luckleyhouseschool.org bursar@luckleyhouseschool.org Telephone: 0 I 18 978 4175

Pa e 1

Lucldey House School Limited Annual Report and Accounts for the year ended 31 July 2022

Contents

Contents
Section Page
Mission and Vision
Governors, Officers and Advisers 3
Reference and Administrative Information 5
Structure, Governance and Management 5
Objects, Aims, Objectives and Activities 6
Public Benefit 8
Review of Achievements and Performance for the Year 9
Financial Review and Results for the Year 9
Future Plans I 0
Auditors 11
Statement of Governors' Responsibilities 12
Independent Auditors' Report to the Governors of Luckley House School Limited 13
Statement of Financial Activities (Income and Expenditure Account) 16
Balance Sheet 17
Cash Flow Statement 18
Notes to the Accounts 19

Pa e 2

Lucldey House School Limited Governors, Officers and Advisers for the year ended 31 July 2022

Governors, Officers and Advisers

The Governors who served during the year were:-

Mr J Richardson (Chair) The Lady Farmer * (Vice-Chair) Revd G R Curry (Safeguarding Governor) Mr N Fenton (appointed 26 March 2022) Mr B Gardiner Dr L Horrocks (Chair of the Governance Committee) Mr A Imlay (Chair of Business Committee) Mr D Kratt (resigned 26 March 2022) Mrs S Laschinger Mr F Llewellyn (appointed 26 March 2022, Chair of Education Committee) Mr A Perry *(appointed I March 2022) Mr A Savage Mrs CA Tao * member of the Business Committee.

Officers

Head

Mrs A Bizior

Bursar, Clerk to the Governors and Company Secretary

Mr N Patterson

Pa e 3

Lucldey House School Limited Governors, Officers and Advisers (Continued) for the year ended 31 July 2022

Advisers

Bankers

National Westminster Bank Pie 5 Broad Street Wokingham Berkshire RG40 IFH

Auditors

Crowe U.K. LLP Aquis House 49-51 Blagrave Street Reading Berkshire RGI IPL

Insurance Brokers

Access Underwriting Limited Selsdon House 212-220 Addington Road South Croydon Surrey CR2 8LD

Address and Registered Office

Luckley House School Luckley Road Wokingham Berkshire RG40 3EU

www.luckleyhouseschool.org

Pa e 4

Lucldey House School Limited Governors' Report for the year ended 31 July 2022

Reference and Administrative Information

Reports and Accounts

The Board of Governors presents the report and accounts of Luckley House School Limited for the year ended 31 July 2022. The accounts appear in the format required by the Charities SORP (FRS I 02). The report and accounts also comply with the Companies Act 2006 as Luckley Oakfield School was incorporated by guarantee in January 1973 and changed its name to Luckley House School on 5 August 2013. The School has no share capital and is a registered charity. The guarantee of each Governor is limited to £I. The governing document is the Memorandum and Articles of Association of the company and Governors are the Directors of the company.

Resume of Lucldey House School

Luckley-Oakfield School Trust Limited (Luckley) was founded in January 1973. Oakfield School originated in 1895 and merged with Luckley School, which was established in 1918, to form Luckley-Oakfield School in 1959. The name of the School was changed to Luckley House School in 2013. Luckley is a registered charity number 309099. The registered company number is O I 091938. The Luckley Directors, Governors and executive officers are listed on page 3. Particulars of the Charity's professional advisers are given on page 4. In January 2004 Luckley-Oakfield School was designated as a school with a religious character under The Religious Character of Schools (Designated Procedure) (Independent Schools) (England) Regulations 2003 with the relevant religious denomination of Church of England, Evangelical.

Structure, Governance and Management

Governing Document

The Charity, a company limited by guarantee, is governed by its Memorandum and Articles of Association dated 5 December 2020

Board

The Board of Governors consist of Governors who are also company directors and trustees of Luckley House School. The details are as mentioned and listed on page 3.

Members

All Governors are members of the Trust and are appointed by the Board subject to approval by Church Society. Church Society is a registered charity (Charity No. 249574).

Recruitment and Training of Governors

The Charity's elected Governors are appointed at a meeting of the Board of Governors to fill specific skill requirements and on the basis of their personal competence, specialist skills, and Christian eligibility. They will also have met with the Chair of Governors, up to three other Governors, the Head, and the Clerk to the Governors, and have visited the School. New Governors are given copies of Guidelines for Governors and the governing document, and inducted into the workings of the Charity and School including Board policies and procedures, through details of recent meetings, including strategic planning, and meetings with the Head and Bursar/Clerk to the Governors. Details of on-going training are provided by the School to Governors and include events organised by AGBIS (Association of Governing Bodies of Independent Schools), and other educational and/or professional bodies. The Board also incorporates training into the annual Strategy Planning Meeting.

Organisational Management

The members of the Trust, which include all governors, meet at the Annual General Meeting and the Board of Governors, who are legally responsible for the overall management and control of Luckley House School, meet at least three times a year. The work of implementing Board policy is carried out by the Education and Business Committees who also meet three times each year before the Board meetings. A Governance Committee meets twice each year to review all aspects of Governance including recruitment of new Governors. The Education Committee reviews and monitors all aspects of school safeguarding and the Business Committee considers the remuneration of the Head and Bursar.

Pa e 5

Lucldey House School Limited Governors' Report (Continued) for the year ended 3 I July 2022

The day to day running of the School is delegated to the Head, supported by the senior leadership team, and to the Bursar. The Head and the Bursar attend all Board meetings and committees.

The remuneration of key management personnel is set by the Board with the policy objective of providing appropriate incentives to encourage enhanced performance and of rewarding them fairly and responsibly for their individual contributions to the Company's success.

The appropriateness and relevance of staff remuneration is reviewed annually, including reference to comparisons with other independent schools to ensure that the School remains sensitive to the broader issues of pay and employment conditions elsewhere.

The School aims to recruit appropriately qualified and experienced staff, offering competitive terms and conditions that provide scope for rewarding excellence. Delivery of the School's charitable vision and strategic objectives is primarily dependent on our key management personnel. Staff costs are the largest single element of our charitable expenditure.

Relationship with Non-Charitable Subsidiary

The charity has a wholly owned non-charitable subsidiary, Luckley House Enterprises Limited, which was incorporated on 26 October 2000. Further details are shown on the balance sheet and accompanying notes to the accounts.

Other Relationships

Luckley House School supports the attainment of the highest standards in the Independent Schools sector through networking with other schools and being a member of The Society of Heads, BSA (Boarding Schools Association), AGBIS (Association of Governing Bodies in Independent Schools), and ISBA (Independent Schools' Bursars Association), and is a foundation member of TISCA (The Independent Schools Christian Alliance). The School also cooperates with many local organisations and charities in its ongoing endeavour to widen public access to the education it provides, optimise the educational use of our cultural, sporting and residential facilities, and promote in its pupils, in the public interest, awareness of the social context of the all-round education they receive. The School continues to develop further links with alumni through and with parents through LHF (Luckley House Friends).

Risi< Management

The Board is responsible for the management of all risks faced by the School. The Business, Education and Governance Committees each consider risks associated with their respective areas. Strategic risks are scrutinised directly by the Board.

The Governors, in their opinion, have established resources and review systems which, under normal conditions, should allow these risks to be mitigated to an acceptable level in its day to day operations.

Objects, Aims, Objectives and Activities

Charitable Objects

The object of the charity as set out in the governing document is to promote and provide for the advancement of education in a context of Christian principles.

Public Benefit Aims and Intended Impact

Through the charitable objects above, the public benefit Core Values and Aims have been reviewed by the Board, as outlined on page 8. Based on Christian principles, Luckley House School aims to provide a high-quality independent education, both through strong academic tuition and through developing wider sporting, artistic and social skills in all its pupils. This is intended to provide an environment where all pupils can develop and fulfil their potential, thus building self-confidence and inculcating a desire to contribute to the wider community.

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Lucldey House School Limited Governors' Report (Continued) for the year ended 3 I July 2022

Objectives for the Year

Strategies to Achieve the Year's Objectives

Strategies included ongoing review of academic syllabi and the benchmarking of academic standards against sector wide public examination results and independent value-added criteria. These are complemented by a wide range of pastoral strategies, based on Christian principles, to develop the whole person. Key to all these is developing the expertise of teaching and pastoral staff, ensuring succession planning, and continued staff development. Furtherance of our links with local junior schools in both the maintained and independent sectors continues to facilitate wider community access to Luckley House School and its facilities.

Principal Activities of the Year

The Charity provides an education to children from the ages of I I to 18 principally from a catchment area across Berkshire, Surrey, Hampshire and Oxfordshire, but also admits boarding pupils based locally, regionally, nationally and internationally.

In the academic year ended July 2022 the School had 328 pupils (202 I: 309). There was a two-form entry into year 7 and a continued interest in the School for entry in future years.

The School continues to appeal to an expanding overseas clientele giving a valued international flavour and an understanding of other cultures.

Grant-making Policy

The Board has regard to Charity Commission and sub-sector guidance on Public Benefit. The Governors' policy, in line with that of other independent schools, is to make scholarship awards on the basis of the individual's educational ability and bursaries according to a financial assessment of parental financial situation. Means-tested bursaries equivalent to three full-fee-paying pupils (including I 00% bursaries) are being offered for entry across the Lower School and into Year 12, thereby widening access to a Luckley education. All awards are reviewed annually.

This year, one pupil received a I 00% Bursary (2021: no pupils). The value of all means-tested new entrant Bursaries exceeded £3 I 3K (2021: £283K) with other additional means-tested hardship bursaries of £54K (202 I: £65K) made available to relieve hardship where a pupil's future education was at risk, all made from unrestricted funds. Scholarships were awarded to the value of £230K (2021: £206K) and awards of £235K in allowances (202 I: £245K), all made from unrestricted funds.

Volunteers

Luckley House School is fortunate to have an excellent relationship with Luckley House Friends. The Luckley House Friends Committee have arranged social activities for pupils, parents, and the local community throughout the year.

The School continues its links with former pupils through its alumni organisation.

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Luckley House School Limited Governors, Report (Continued) for the year ended 31 July 20212 Public Benefit The charitable purpose of Luckley House School is the advancemen¢ of education and is for public benefiL The Governors of Luckley House School are commitced to education and to broadening access to the School. Governors use a wide rydnge of opportunities and have complied with their duty in s.1715) of the Charities Act 2011 ¢0 have due regard to the general and relevant sub-sector gyidance concerning the operation of public b￿￿rit published by the Charity Commission in exercising their responsibilities as Governors. Education for Pupils We support the attainment of the highese standards in the Independent Schools sector. Our pupils achieve excellent public examination results {see a150 page l 01, staff act a5 marker5 and moderators for public examinations, and we support the induction programme for newly qualified teachers. The teaching pmfession ￿nefIts from the training and continuous development programme and In-servi￿ training for Luckley House School staff as they move between schools and education sectors. We Continue to develop our links with local junior schools in both the rnaintained and Independent sectors. Bursaries Commitment to broadening access to the School includes offering, to eligible parentslguardians. means- tested financial support for the payment of school fees, These Bursaries may be awarded in the form of a reduction of up to l 00% on school fee9 payable depending on the financial circumstances of applicants and are subjett to repeat testing of parents needs each year. It 15 the child'5 Suitability for the School that is the first consideration in granting supporL The amount of the bursary award is not influenced by the level of the academic ability of the child. buc by the ex￿n¢ of need. Each case is a55essed on its own merits and awards are made accordingly, subject to the School's ability to fund these within the context of what is viable according to the School's overall budget. Information provided by the School alerting the parent51guardians of potential pupils to the p)S5ibility of gaining means-res￿d financial support with the payment of school fees is advercised in the School prospectus, the School web51te, advert15ing flyers, the local pres5 by mean5 of advertisements, and during open dayslmornings. Pupil Activities Over the course of the year pupils rdised £1.6K (2021.. £611) for charitie5 both national and intrrnational. Use of Facilities We a150 cooperate with many local organi5ations and charities to optimi5e the educational use of our cultural, sporcing. and residential facilities and to promore, in our pupils. in che public interest, awarenes5 of the social context of the all-round education they receive at the School. In addition to our 5POrt5 facilities and theatre being used by local clubs and organi5ations, the residential facilities continue to be utilised during vacation periods to benefit other Christian faith and educational groups.

Luckley House School Limited Governors' Report (Continued) for the year ended 31 July 2022

Strategic Report

Review of Achievements and Performance for the Year

Operational Performance of the School

Following two disrupted years due to the COVID pandemic, this year saw a return to normal School life with many activities resuming.

Public examinations did take place after a two-year break for our GCSE and A level pupils, and the results awarded to the pupils were very good with 29% of GCSEs graded 8 and 9 and 35% of A level grades at A*/A.

During the year, a lot of development of the site has taken place including the development of the outside space and the boarding accommodation.

Fundraising Performance

The charity had no fundraising activities requiring disclosure under S 162A of the Charities Act 2011.

Investment Performance Against Objectives

Apart from the subsidiary undertaking mentioned in the Balance Sheet, the School has no material investments. Any short- term credit monies are placed in bank cash deposits.

Financial Review and Results for the Year

Review of Financial Activity

The Board remains focused on strategic planning with sound financial strategy and control continuing to be exhibited. Current assets have increased slightly by 4% (2021: 99%). Creditors falling due within one year have also increased by 31 % (2021: 4%) resulting in a decrease in net current assets.

The year-end shows an operational deficit. Pupil net fee income was up 13%, (2021: up 9%). Costs have been vigorously controlled and managed, and we anticipate an upward trend in the coming years.

Reserves Policy

The School needs reserves to ensure it can fulfil the charitable obligations and commitments it enters into.

The Charity's policy is to invest in premises and equipment to support the business and educational requirements of the Charity while ensuring the adequate financing of day-to-day operational needs and the maintenance of adequate reserves to meet any contingencies as they arise. Retained surpluses are not held as free reserves, but are normally utilised for improvements to the Charity's facilities. This policy is supported by external financing as and when necessary, which is allocated to specific capital projects.

At the end of the financial year, the level of reserves stood at £ I 0.2m (20 I 0: £ I 0.1 m) with no freely available reserves (2021: £65k). £734k of the reserves (202 I: £650k) remain in restricted funds to be used for the development of the school site and a Development Office.

The move to becoming a coeducational school combined with other marketing strategies have proved successful with the School entering its sixth consecutive year of growth in pupil numbers. As this trend continues, the Board have every confidence that the School will continue to maintain sufficient reserves to support the business and educational requirements of the Charity.

Pa e 9

Luckley House School Limited Governors, Report (Continued) for the year ended 31 July 2022 Investment Policy and Objectives These are governed by the Memorandum and Articles, which permit monies not immediately required to invested in such invescments. securities or property as may be thought fi¢ subject to conditions irnposed or required by law. Principal Risks and Uncertainties Education, Business (including compliance), and Governance risks are reviewed regularly by the relevant Board commit￿eS while Strategic risks are considered directly by the Board at the annual Strategy Planning Meeting. Ensuring the long-tsrm viability of the School continues to be of the highest priority for Governor5. Bearing in mind the School's current strengths and traditions, whilst also looking to the future, the Governor5 through the year have carried out extensive researth and consultation to assess future local and national demand5 and how the School can best fulfil its vision for future generations. Health and Safety is always a significant area for risk management. The School Health and Safety Committee regularly reviews all related policies, and an Outside consultant audits ail risk a5se5sments and procedures and reports to that committee. Future Plans During the year the Board have been reviewing strdte8ic planning and aims. The key objectives within the current plan continue to be to: Underline the School's Christian character and ethos. articulating cleaAy its mission, w5ion, and eth05, arid the understanding of how a Christian worldview is applicable in an educational setting. Grow the School to 340 pupi15, aiming for a balance in the numbers of boys and girls, a Sixch Form of 80. and a tx)arding Fopulation. including full. weekly and flexi boarders, of 40. The initial emphases will be on recruitment into Year 7, tM)ardin& and the Sixth Form, with particular attention plid to retention of pupils from Year I l into Year 12. Be deliberately aspirational, setting the highest academic standards and providing opportunities for pupils to ex￿nd their intellectual horizons. Encourage the development of pupils, wider talents. Including within the performing and creative arts Lnd sporL Develop the qualifications, ski115 and attributes that give pupils confidence, and foster compassion and courage. the skills of leadership. and a spiric of service. Improve the quality of teaching and of academic and pastoral leadership, appointing, developing, and retaining well qualified and highly motiyated staff. Place emphasi5 on the development of transformational pastoral and tutorial progrydmmes aimed at supporting and developing individual pupils within the contexc of a vibrant school community. Foster a commitment to civic engagement and. in particular, to the notion5 of 5UStainLble living and social and environmental responsibility. Continue to invest in the School's facilitie5 includin& in particular. in its teaching and learning technologie5, design, the creative and performing arts, and sporL

Lucldey House School Limited Governors' Report (Continued) for the year ended 3 I July 2022

Auditors

So far as each of the Governors is aware, at the time the report is approved, there is no relevant audit information of which the company's auditors are unaware, and the Governors have taken all steps that they ought to have taken in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Crowe U.K. LLP have expressed their willingness to continue in office as auditors and a resolution proposing their re-appointment will be submitted to the forthcoming Annual General Meeting.

The Governors' Report, under the Charities Act 2011 and the Companies Act 2006, was approved by the Board of Governors on 26 November 2022 including approving, in their capacity as company directors, the Strategic Report contained therein, and is signed as authorised on its behalf by:

Mr J Richardson Chair

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Lucldey House School Limited Governors' Report (Continued) for the year ended 31 July 2022

Statement of Governors' Responsibilities

The Trustees (who are also directors of Luckley House School Limited for the purposes of company law) are responsible for preparing the Governors' Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Pa e 12

Crowe UK LLP

Crowe .A

Chartered Accountants Member of Crowe Global Aquis House 49-51 Blagrave Street Reading Berkshire RG1 1PL, UK Tel +44 (0)118 959 7222 Fax +44 (0)118 958 4640 www.crowe.co.uk

Independent Auditor's Report to the Governors of Lucldey House School Limited

We have audited the financial statements of Luckley House School Limited for the year ended 31 July 2022 which comprise the statement of financial activities, the balance sheet, the cash flow statement and notes to the financial statements, including 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:

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.

Conclusions relating to going concern

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

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

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

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. 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.

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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Crowe

Independent Auditor's Report to the Governors of Lucldey House School Limited (Continued)

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In 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 directors' report included within the Governors' report.

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

Responsibilities of Governors

As explained more fully in the Governors' responsibilities statement set out on page12, the Governors (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Governors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

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.

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Crowe �

Independent Auditor's Report to the Governors of Lucldey House School Limited (Continued)

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014 and legislation around safeguarding children.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the recognition of non-fee income, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Business Committee about their own identification and assessment of the risks of irregularities, sample testing of documentation relating to non-fee income, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate and Ofsted and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non­ compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non­ compliance with all laws and regulations.

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.

29 November 2022

Alastair Lyon

Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Aquis House 49-51 Blagrave Street Reading, RG1 1 PL

Pa e 15

Lucldey House School Limited Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 3 I July 2022

Notes
INCOME FROM:
Charitable activities
School Fees
4
Other educational income
4
Other ancillary trading income
4
Investments
Investment income
4
Voluntary Sources
Donations
Other Income
4
Total
EXPENDITURE ON:
Raising funds
Charitable Activities
Schools and grant-making
Other ancillary trading expenses
Total
7
Net gains on investments
Net income befre transfers
Transfer between funds
Net movement in funds
Fund balance brought forward at
I August 2021
Fund balance carried frward at
31 July 2022
14		 Unrestricted
£
5,145,131
223,792
403,506
899
6,182
5,779,510
20,053
5,456,745
547,098
6,023,896
(244,386)
276,879
32,493
9,524,989
£9,557,482		 Restricted
£
752,471
752,471
392,159
392,159
360,312
(276,879}
83,433
650,478
£733,911		 Total
2022
£
5,145,131
223,792
403,506
899
758,653
6,531,981
20,053
5,848,904
547,098
6,416,055
115,926
115,926
I 0, 175,467
£ I 0,291,393		 Ttal
202_I_
£
4,537,346
/40,666
196,334
/36
796,572
57,801
5,728,855
7,588
4,780,983
340,945
5,129,516
599,339
599,339
9,576,128
£/ 0, 175,467

All incoming resources were derived from continuing operations.

The unrestricted income and expenditure column details the operational day'to day finances of the school for the year. The restricted expenditure relates to planned development projects and expenditure which have been funded through specific donations to the school.

The notes on pages 19 to 34 form part of these accounts

Pa e 16

Lucldey House School Limited Balance Sheet as at 3 I July 2022 (Company No: I 091938)

Notes
Fixed Assets
Tangible Assets
8
Other Investments
9
Current Assets
Stock
10
Debtors
11
Cash at bank and in hand
Creditors:amounts falling due within
one year
12.1
Net Current Assets/ Liabilities
Creditors:amounts flling due after
one year
12.2
Net Assets
Represented by:-
Restricted
Funds
14
Unrestricted Funds
Designated and general
14
Fair value reserve
14
14
Total Funds		 £
91,929
305,898
1,591,191
1,989,018
1,207,154
8,993,693
563,789		 2022
£
10,129,782
I
I 0, 129,783
781,864
(620,254)
£I 0,291,393		 202/
£
9,820,488
I
9,820,489
1,944
287,271
1,607,940
1,897,155
921,431
975,724
(620,746)
£/ 0,175,467
650,478
8,956,200
568,789
733,911
9,557,482
£I 0,291,393
9,524,989
£10,175,467

Total Funds

Approved and authorised for issue by the Board of Governors at its meeting on 26 November 2022 and signed on its behalf by:

The notes on pages 19 to 34 form part of these accounts

Pa e 17

Lucldey House School Limited Cash Flow Statement for the year ended 31[J] uly 2022

Notes
Net cash provided by operating
activities
17
Cash flows from investing activities
Payments to acquire tangible fixed assets
18
Proceeds from sale of tangible fixed assets
Interest received
Net cash provided by investing activities
Cash flows from financing activities
Repayment of loan
Finance lease repayment
Finance lease interest
Bank interest payable
Bank loan advance
Change in cash and cash equivalents in
the year
Cash and cash equivalents at the
beginning of the year
Cash and cash equivalents at the end of
the year		 £
(728,537)
899		 2022
£
760,708
(727,638)
(49,819)
(16,749)
1,607,940
£1,591,191		 202_I_
£
/,029,/84
(177,095)
40
/36
(29,964)
(I 03,230)
(16,572)
(20,053)
120,000		 (176,919)
(50,130)
(12,990)
(7,588)
182,966
112,258
964,523
643,417
£1,607,940

The notes on pages 19 to 34 form part of these accounts

Pa e 18

Luckley House School Limited Notes to the Accounts for the year ended 3 I July 2022

I. Company Information

The principal activity of the School is the provision of education to children from the ages of I I to 18. The School is a company limited by guarantee (registered number I 091938), is a registered charity (charity number 309099) and is incorporated and domiciled in the UK. Each member's liability would be limited to an amount not exceeding £ I in the event of the School winding up. The address of the registered office is Luckley House School, Luckley Road, Wokingham, Berkshire, RG40 3EU.

2. Statement of Accounting Policies

2.1 Basis of Preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS I 02) ( effective I January 2015) - Charities SORP (FRS I 02), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS I 02) and the Companies Act 2006.

Luckley House School Trust meets the definition of a public benefit entity under FRS I 02. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

2.2 Going Concern

September 2022 has started with a growth in pupil numbers including in boarding and the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements.

2.3 Group Accounts

Group accounts have not been prepared as the results and assets of the subsidiary undertaking are considered to be immaterial to the accounts. These accounts present information about Luckley House School Limited as an individual entity.

2.4 Tangible Fixed Assets

New buildings, vehicles and major items of fixtures and fittings and computer equipment are capitalised and carried in the balance sheet at historical cost less depreciation.

Depreciation is provided on all tangible fixed assets in use, other than freehold land, at rates and bases calculated to write off the cost of each asset over its estimated useful life as follows:

Freehold buildings 2% straight line basis Furniture and equipment 20% reducing balance basis Motor vehicles 25% reducing balance basis Computer equipment 33.3% straight line basis

Pa e 19

Luclcley House School Limited Notes to the Accounts for the year ended 31 July 2022 2.5 Incoming Resources School fees represent amouncs receivable for educational services provided. including extras. Other educational income include5 registration fees, exam fee5 and similar income. Other ancillary trading income includes school trips, school transpor( catering and similar income. Income is deferred for fees received in ad￿￿nCe. theatre bookings r2ken in advan￿ and trip5 that take place in future accounting periods. The income is recognised in the SOFA in the year to which it relates. The Coronaviru5 Job Retention Scheme grant is recognised in the SOFA in the F*riod to which ic relates. 2.6 Donations Donations are credited to the Statrment of Financial Ac¢iwties in the year in which they are received and the economic benefit to the School is considered probable. Donations rece5Wdble for the generdl purposes of the Charity are credited to Unrestricted Fund5. Donations for purposes restricted by the wishes of the donor are caken to Restricted Funds. 2.7 Resources Expended Resources expended are accountrd for on an accruals basis. Expenditure is allocatrd to expense headings either on a direct cost basis. or apportioned according to time spenL The irrecoverdble element of VAT is included with the item of expense to which it relates. Governance costs comprise the costs of running the charity, including Stra￿tC planning for its future development. also external audit, and all the costs of Board and Sub-committee meetings and of preparing statutory accounts and satisfying public accountability. 2.8 Teaching Costs Supplles of book5. Stationery. games equipment and sundry materials are written off vthen the expenditure is incurred. 2.9 Penslon Scheme The charity continues to Opera￿ a defined contributory group personal pension scheme for non- teaching staff and teaching staff. 2.10 Grnnts During the year the School claimed £3K 12021: £57.8K) from the UK Government under the Coronavirus SSP grant {12021: nil) Coronavirus Job Retention Scheme). Grants are recognised in the ststsment of financial activities on an accruals basis e20

Luckley House School Limited Notes to the Accounts (Continued) for the year ended 31 July 2022 Statement of Accounting Policies (Continued) 2.1 l Operating Leases Renta15 payable under operating lease5 are charged to the statrment of financHI acriwties as incurred. 2.12 Stock Stocks are valued at the lower of cos¢ and net realisable value. 2.13 Financial instruments Basic financial instruments include debcors and creditors. Debcors and creditors are initially recognised at transaction value and subsequendy measured at amortised COSL 2,14 Cash and cash equivalents Cash at bank and cash equivalent5 includes Cash and short term highly liquid investmencs with a shorc maturity of 3 months or less from the date of acquisition or opening of the deposit or similar accounL 2.1 S Parent Deposlts The Governors have reviewed the contratt terms under which deposits from parents are held by the School. Although under norrn￿ circumstances these will Ee repaid over future years when the pupils complete their education at the School, pupils can leave at earlier dates. The School does not therefore have an unconditional right to retain the Individu￿ deposits for at least 12 months after the balance sheet da￿ and, in line with the requirements in FRS 102, the balance of the deposits held at 31 July 2022 have been included within current liabilities. The prior year deposits from parent ￿an￿ has been similarly represented. 2.16 Deferred Income (Fees in advance scheme) Amounts receNed under the school's Fees in Advance Scheme contracts for education not utilised in the year ro settle school fee5. are recorded as deferred income and alloCa￿d as current liabilitie& where the education will be provided within 12 months from the reporting date, and as lon8-￿rrn liabilitie5 where the education will be provided in subsequent years. Pa e21

Lucldey House School Limited Notes to the Accounts (Continued) for the year ended 3 I July 2022

3. Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the charity's accounting policies, which are described in note 2, Governors are required to make judgements, estimates and assumptions about the carrying values 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.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods.

The Governors consider that there are no material judgements in applying accounting policies or key sources of estimation uncertainty.

4. Income from Charitable Activities

4.1 School Fees The School's fe income comprised:

Gross Fees
Less: Total scholarships, bursaries and allowances
4.2
Other Educational Income
Registration Fees and other Educational Income
4.3
Other Ancillary Trading Income
Letting income
Other Ancillary Trading Income (see note 2.6)
2022
£
5,978,385
(833,254)
£5,145,131
2022
£
£223,792
2022
£
33,887
369,619
£403,506		 202/
5,337,632
(800,286)
£4,537,346
202/
£
£140,666
202/
£
11,789
184,545
£196,334

The other ancillary trading income includes £18,153 [(] 202 I: £ I ,485[) ] payable by Luckley House Enterprises Limited for administration services provided by the School.

Pa e 22

Luckley House School Limited Notes to the Accounts (Continued) for the year ended 31 July 2022 4.4 Investment Income 2022 2021 Bank Interest Rental income Gift aid from investment 848 136 £899 £136 4.5 Other Income 2022 2021 Coronavirus Job Retention Scheme Grnnt £57,801 Restricted Expenditure During the year £490K was spenr on school sitr development projects. £26k vras spent on the development office and £150k on senior academic salarie5. Resources Expended 6.1 Staff Costs 2022 2021 Salaries and vlages Social security costs Pension contributions 2,919,259 271,237 482,538 £3 673 034 2.541.382 226,901 408.185 £3.176.468 The average wee￿Y number of employees during the year vras 125 (2021.. 114). One of the Governors received expenses totalling £1,195 from Luckley House School during the year12021.' £896) Aggregate employee-benefits of key management personnel £241443 £226.430 Pa e23

Lucldey House School Limited Notes to the Accounts (Continued) for the period ended 3 I July 2022

6.1 Staff Costs ( continued)

The number of higher paid employees was:

Taxable emoluments band
£601< to £70K
£701< to £80K
£1 I0K to £120K
The number with retirement benefits accruing in
- Defined Benefit Schemes was
- Defined Contributions Scheme was
Teaching Staff
Administration
Domestic and welfare
Transport
Grounds and maintenance
Total staf
No
74
13
28
7
3
125
2022
Full time
equivalent
No
49
13
20
4
3
89		 2022
202/
2
I
I
2
Ttal staf
No
67
12
26
6
3
114
2
2021
Fl_time
_equivalent
No
49
II
/8
3
3
84

During the year there were termination payments which amounted to £nil (202 /: £251<). There was nothing outstanding at the year end.

6.2 Net incoming/(outgoing) resources

2022 2021
£ £
This is stated after charging/(crediting)
Auditors remuneration - Audit fees
.
relating to parent company		 11,275 9,800
Depreciation of owned tangible fixed assets 500,127 338,178
Depreciation of tangible fixed assets held under finance leases
and hire purchase 25,617 32,022
Loss on disposal of fixed assets 20,266 45

Pa e 24

Lucldey House School Limited Notes to the Accounts (Continued) for the year ended 31 July 2022

7. Analysis of Resources Expended

Charitable activities
Teaching Costs
Welfare
Premises
Support Costs
Finance Costs
Recharges
Raising Funds
Bank Loan Interest
Other Ancillary
Trading
Total Resources
Expended		 Staf costs
£
2,552,842
459,553
76,271
496,588
3,585,254
87,780
£3,673,034		 Other
Depreciation
£
£
223,627
304,650
146,515
852,951
220,594
447,514
32,227
35,572
1,738,406
525,244
20,053
459,318
£2,217,777
£525,244
Total
£
3,081,119
606,068
I, 149,816
944,102
32,227
35,572
5,848,904
20,053
547,098
£6,416,055

Included within support costs are governance costs of£ 15,863 (202 I:£ 18,314)

2021 Comparative

Charitable activities
Teaching Costs
Welfare
Premises
Support Costs
Finance Costs
Recharges
Raising Funds
Bank Loan Interest
Other Ancillar Trading
Total_Resources
_Epended		 Staf costs
£
2,138,903
412,365
I 13,964
439,954
3, I 05, 186
71,282
£3,176,468		 Other
£
I 91,141
I 06,245
597,870
354,375
40,999
14,967
1,305,597
7,588
269,663
£1,582,848		 Depreciation
£
/5/,/54
219,046
370,200
£370,200		 Total
£
2,481,198
518,6/ 0
930,880
794,329
40,999
_14,967 _
4,780,983
7,588
340,945
_£5, 129,5 I_6

Pa e 25

Lucliley House School Limited Notes to the Accounts (Continued) for the year ended 31 July 2022 Tangible Assets F￿hOld Land & Bulldings Fumiwre Computer Equipment Equipmen¢ Vehicles Totsl Deemed Cost l Augus¢ 2021 Additions Disposal Transfer 11060.335 101,368 123,9561 519.761 172.955 6&366 14,158,393 854,803 154,9041 580.480 {30,9481 31 Juty2021 12 137.747 691716 1061,463 66,366 14,958,292 Depreclatlon l August 2021 Disposal Provlsion for year 2,645,373 111.5861 220,594 406,048 1.223.454 {23.0521 171212 63,030 4.337.905 134.63BI 525.243 131.603 834 31 luty 2021 2.B54.381 537.651 1.371614 63.864 4.828.510 Net Book Value 31 July 2022 £9.283.366 £155 065 £688 849 LIO 129 782 Net Book Volue 31 July2021 £9.414.962 £113713 £288 477 £9,820,488 The net boolc value of furniture and equipment includes an amount of £102,470 (2021.. £128,088) in respect of asse¢5 held under finance leases and hire purchase contracts. The net book value of computer equipment includes an amount of £84.556 (2021.. nd) in respect of assets held under finan￿ leases and hire purchase contrdcts. The cost or valuation of freehold land and buildings includes freehold land at £ 1,108,040 which Is not depreciated. The School has elected, in accordance with Section 35.10(d) of FRS102, to use the carrying value on I September 2014. the date of transition to FRSI 02. of any of the above freehold land and buildings prevlously fdrried at a valuation, as their deemed COSL Pa e26

Luckley House School Limited Notes to the Accounts (Continued) for the year ended 31 July 2022 Other Investments 2022 2021 At l August 2021 and 31 July 2022 £1 £1 Name of undertaking Country of incorporation Description Proportion of shares of rights held and shares held Nature of business Luckley House Enterprises Limited England £ l Ordinary loo% Provision of serviced resident¢al lets Group accounts have not been prepared on ¢he grounds of IMMa￿riallty. The audited accounts for the company for the year to 31 July 2022 show a turnover of £27,899 profit of £1,905 leaving net assets of £6.034. 10. Stock 2022 2021 Stock 91,929 1,944 £91,929 £1,944 I l. Debtors 2022 2021 Trade debtors Amount owed by group undertaking Prepayments Other debcors 92,042 19,824 182,178 89.410 42.226 145,385 £305 898 £287.271 e27

Luckley House School Limited Notes to the Accounts (Continued) for the year ended 31 July 2022 12.1 Creditors; Amounts falling due within one year 2022 2021 Fee5 received in advance Fee5 in Advance Scheme (see note 131 Deposits from parents Trade creditors Other taxes and social security costs Accrua15 and deferred income Bank Loan (see no￿ 12.2a) HP and Finance Lease (see no￿ 12.2b) Other creditors 80,430 249,318 279,901 194,107 75,297 138.885 37,432 85,108 66,676 152.437 183,106 232.505 27.704 58,924 134,463 20.212 50,034 62,046 £1,207 154 £921,431 12.2 Creditors: Amounts falling due after more than one year 2022 2021 Fees in Advance Stheme (see no￿ 13) HP and Finance Lease (see nots 12.2b) Bank Loan {see note 12.2a) 164,143 42,507 413604 225.413 54,545 340.788 620 254 £620, 746 12.2a The bank loans are repayable #s follows,. 2022 2021 Within one year Between one and two yea Between two and five year5 Over five years 37,432 38,283 121,673 253 648 20.212 20,358 67.167 253.263 £451,036 £361,000 The Nat West bank loan is secured by a legal charge over the freehold property of the school and its assets. The loan ￿Ing £342K at 31 July 2022 {2021.' £36 Ik) will be repaid in 2036. The interest rate 15 4.9 IY.. The Societe General Loan is unsecured and will be repaid in 2028. The loan ￿￿S £108k at 31 July 2022. Pa e28

Luckley House School Limited Notes to the Accounts (Continued) for the year ended 31 July 2022 12.2b The HP and finance lease is repayable as follows.. 2022 2021 Within one year Between one and two years Between two and five years 85,108 39,680 2,827 50.034 50.034 4.511 £127615 £104.579 13 Fees in Advance Scheme Parents may enter into a contrdtt to pay the School in advance for fixed contributions towards the tuition fees for up to five years. The money may be returned subject to specific conditions on the receipt of noti￿. Assuming pupils will remain in the School. fees in adydnce will be applied as follows: 2022 2021 Within 2.$ years Within 1-2 years 70,436 93,707 164,143 249318 103,942 121.471 225,413 183.106 Within l year £413 461 £408.519 Summary of movements in liability Balance at l August 2021 New Contracts Amounts used to pay fees 408,519 451,594 446 652 Balance at 31 July 2022 £413,461 Pa e29

Luclcley House School Limited Notes to the Accounts (Continued) for the ear ended 31 Jul 2022 14. Funds 14.1 Net Assets of the Funds of Charity Fixed A55ets Net Current Assetsl (Liabilities) Long tèrm Liabilities Fund Balance Investments Restricted funds Unrestricted Funds General Reserve 733,911 733,911 9,565,993 47,953 (620,254) 8,993,693 Fair value reserve 563 789 563 789 £10,129782 £1 £781,864 £620,254 10,291.393 2021 Comporative Fixed Net Current A5setsl robiliries) Long term Liobijityes Fund 8olance Restrirted funds Unrestricted Funds Generol ReseTh 650,478 650.478 9.251.699 325.246 (620,746) 8,956,200 568 789 568.789 £9,820,488 £1 £975,724 £620.746 £10.175.467 14.2 Unrestricted Funds: Movements in the Year BGlonce l August 2021 Balance 31 July 2022 Incomè Expended Transler General Reserve 4956,200 S,779,510 (6,023,896) 281,879 8,993,093 Fair valve reserve 568.789 5.fy)0 563 789 £9,524.989 £6,023,896 £5.779,51 O ￿ £276.879 £9,557 482 The movement be￿een reserves reflects depreciation in the year from the 1985 revaluation of buildings and the capital expenditure funded by restrictsd donations. Pa

Lucldey House School Limited Notes to the Accounts (Continued) for the year ended 31 July 2022

14.2 Unrestricted Funds: Movements in the Year (continued)

2021 Comparative

Balance
I August
2020
£
Income
£
Epended
£
Transfer
£
General
Reserve
8,977,866
4,946,356
(4,980,022)
12,000
Fair value
reserve
573,789
(5,000)
£9,551,655
£4,946,356
(£4,980,022)
£7,000
.3 Restricted Funds: Movements in the Year
Balance
Christian Outreach
LOOGNFundraising
Polo grant
School Building
Development
Senior academic staff
Teen Tech ICT
Speech day prize
Theatre Event
Pizza Oven
Music
I August
202/
£
85
20,023
572
477,775
150,000
1,844
60
119
£650,478
Income
£
80,000
520,000
150,000
30
100
2341
£752,471
Expended
£
(26,500)
(213,188)
(150,000)
(30)
( I 00)
(2,341)
(£392,159)		 Balance
31 July
2020/
£
8,956,200
568,789
£9,524,989
Transfer
£
(276,879)
(£276,879)
Balance
31 July
2022
£
85
73,523
572
507,708
I 50,000
1,844
60
119
£733,911

14.3 Restricted Funds: Movements in the Year

The LOOGNFundraising monies have been restricted to the funding of a LOOGA and fund raising office.

2021 Comparative

Christian Outreach
LOOGA/Fundraising
Polo grant
Conservatory
School Building
Development
Senior Academic Staf
Teen Tech JCT
Speech day prize
Music		 Balance
I August
2020
£
85
21,823
572
1,844
30
119
£24,473
Income
£
7,000
625,000
150,000
30
469
£782,499		 Epended
£
(1,800)
(147,225)
(469)
(£491,494)		 Transfer
£
(7,000)
(£7,000)
Balance
31 July
2021
£
85
20,023
572
477,775
150,000
1,844
60
119
£650,478
Pa e 31		 Balance
31 July
2021
£
85
20,023
572
477,775
150,000
1,844
60
119

Lucldey House School Limited Notes to the Accounts (Continued) for the year ended 3 I July 2022

15. Other Financial Commitments

The following annual commitments existed at 31 July 2022 in respect of non-cancellable operating leases expiring: -

Within one year
Between two and five years
After five years		 Other operating leases
As at 31
July 2022
£
80,478
129,046
1,113
£210,637
As at 31 July
202/
£
59,927
I_22,/II_
£182,038		 Other operating leases
As at 31
July 2022
£
80,478
129,046
1,113
£210,637
As at 31 July
202/
£
59,927
I_22,/II_
£182,038
£182,038

Operating lease expenditure in the year was £86,063 (2021: £94, I 08)

16. Pension Obligations

Pension payments made during the year were as follows:

Defined contribution scheme
Total Pension Costs
Amounts included in creditors at Year End		 2022
£
482,538
£482,538
£56,746		 202/
£
408, /85
£408,185
£51,761

17. Reconciliation of cash flows from Operating Activities

Net movement in funds
Depreciation charge
Loss on disposal of tangible fixed assets
Interest receivable
Interest on finance lease
Interest payable
(lncrease)/Decrease in stock
(lncrease)/Decrease in debtors and prepayments
(Decrease)/ Increase in fees received in advance
Increase in deposits from parents
lncrease/(Decrease) in trade creditors
lncrease/(Decrease) in other taxes and social security
Increase in accruals & deferred income
lncrease/(Decrease) in other creditors
Net cash provided by operating activities		 2022
£
115,926
525,243
20,266
(899)
16,572
20,053
(89,985)
(18,627)
(67,065)
47,396
166,403
16,373
4,422
4,630
£760,708		 202/
£
599,339
370,200
45
(136)
12,990
7,588
(612)
20,/02
9,352
I_0,605
(9,325)
(843)
/3,50/
(3,622)_

£1,029,184

Pa e 32

Luckley House School Limited Notes to the Accounts (Continued) for the year ended 31 July 2022 18. Reconciliation of Fixed Asset Purchases 2022 2021 Cash paid in year A55ets purchased under HP & Finan￿ Lease 728,537 126266 177,095 Total additions (per note 8) £854 803 £177,095 19. Reconciliation of Net Cash Flow to Movement in Net Funds 2022 2021 (Decrease)Ilncrease in cash in the year Loan advance Capital element of finance lease repayments {16,749) {90,036) 23,036 964523 (182.966) 50.130 Change in nec funds (129,821) 831,687 Net funds a¢ l AugLbSt 1,142,361 310.674 Net Funds at 31 July £ 1012,540 £ 1142.361 20. Analysis of Change in Net Funds Net fvnds os at l August 2021 Net funds a5 at31 July 2022 Cash Change Cash at bank and in hand Bank loan Finance lease 1.607.940 (361,000) 104,579 {16,749) {90,036) 23,036 1,591,191 (451,036) 127,615 £ 1.142,361 129,821 £1012540 21. Related Party Luckley House Enterprises Limited is considered to be a related party of the School as ic is a wholly owned subsidiary. The School received £40.569 (2021.. £nil) from their subsidiary and paid £nil (2021.. £nrf). The balance due from Luckley House Entrrprises at the year*nd was £19,824 (2021.. £42,226) No other related party transaction5 were entered into during the year. Pa e33

Lucldey House School Limited Notes to the Accounts (Continued) for the year ended 31 July 2022

22. Capital Commitments

During the financial year the school had entered into an agreement for the purchase of two new minibuses. The amount of the contract entered into but not provided for in these financial statements was £81 K (202 /: £422k)

23. Statement of Financial Activities - Comparative figures by fund-type

Year ended 31 July 2021

Year ended 31 July 2021
INCOME FROM:
Charitable activities
School Fees
Other educational income
Other ancillary trading income
Investments
Investment income
Voluntary Sources
Donations
Other Income
Total
EXPENDITURE ON:
Raising Funds
Charitable Activities
Schools and grant-making
Other ancillary trading expenses
Total
Net income befre transfers
Transfer between funds
Net movement in funds
Fund balance brought forward at I
August 2020
Fund balance carried forward at
31 July 2021		 Unrestricted
£
4,537,346
140,666
196,334
136
14,073
57,801
4,946,356
7,588
4,631,489
340,945
4,980,022
(33,666)
7,000
(26,666)
9,551,655
£9,524,989		 Restricted
£
782,499
782,499
149,494
149,494
633,005
(7,000}
626,005
24,473
£650,478		 Funds
Total
£
4,537,346
140,666
196,334
136
796,572
57,80 I
5,728,855
7,588
4,780,983
340,945
5,129,516
599,339
599,339
9,576,128
£10,175,467

Pa e 34