R•gl8lr•tlon 001711YIO (England and Wal••) R•glthr•d Ch•rlty No. 309144 LEIGHTON PARK TRUST (A company limited by guarantee) ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
LEIGHTON PARK TRUST REFERENCE AND ADMINISTRATIVE DEfAILS (CONTINUED) R•gl•t•r•d Ctynp•ny Numb•r (MJ171900 (EnglKI Wales) R•glsto¥ed Charlty Number 309144 IErKJarrfl and Wales) Prfnclpal Addrem and R•glthr•d Offlc• Leighton Park School Shinfield Road Reathng Bethshire RG2 7ED Oov•rnorn, Charfty TnMte•s and ConyThy Dlr•ctorn The Lelthton Pad( sch( Govemorn arn thè Chity Trusiaes and Company Dirgrkn of Leighton Park Tntst. a company limited by guarantse. TW have all ser4ed in office trwhout tha year. except where indicated. Togelherwbth past Govemcrfs Th served in the yew. as irKffic4ted. they we.. Appolnt•d by L•lghton hrk S¢hool Gen•Trl Mwllng Jan Digby {apInted Chwr of Board frn 30 Octcthr 2020) (5) Lottle Dodwdl141 Phlllp Grlffin {C1) {3) Davld HIr0k {2> Bruce Johnson (4) (7} Martin Uoyd (21 (term erwjed 31 May 221} Andrew HughesthNirKI {2) Lbza PNpp811) (C4) Appolntsd by Govemovs Eme DeaTrLrys {2) {C3) IC5) {8) A2ka De Sousa (1) {81 James Gaz81 (41 lapwrted 1 Se¢ber 2020) Chris Houst IC21 (3)15) David Ishgrwood12) (Chair of Board) (resigned 30 October 2)) Irfan Latif {aFwnted 13 S8pt8mbgr 2021) Marlon Mitch1 (appointed 6 May 2021) Matt Wnkless (1) {3) Nlck Wood {2)13> M¢rnber of th8 Pastora ar¥J Safeguwthng Committee Mernber of the Business C(xnmittee 121 131 141 i¥ lei 171 181 Ic") Member of the Teaching & Learrirffj Commrtlee Member of the SLT RernwWab CnITutio8 Finan Gov Human Resouros Govwn Safeguarding Govemor Chair of C¢Mnmitlee ReSpSTbrIllles of clher Goverrm OfLeIghtr P•k Tn*t Can l)e I1 M tho sclKx4's lIe IvA¥w.leighlonp8rk.comlst•ff-8Wemorsl.
LEIGHTON PARK TRUST REFERENCE AND ADMINISTRATIVE DETAILS (coKfiNUED) Key Managamont P•r•onn Head.. Deputy Heads: Nkky Hwth Al8xander Wakn {apFdnted 1 September 2021) Bwsar and Clerk to Board of GmThxs: Kth Ewe DirKtor of Martelirvj and Ath)issions: B•nk•v8: 88rdays PLC ¢x Plaza Fbury Ri1 ReIlry RG1 1XE Veale WaSbrO Vttards LLP Brists BS14QA Audltor: RSM UK Autht LLP Forbury Ra8dirKJ 8&*8tH're RG13EU 8 St J•ne8'9 Sware sy4JU Insurnnco Bvok•v•: &ite G16 HP19 eDB
LEIGHTON PARK TRUST GOVERNORS. AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 e$ent thr annual report tO9th wilh the authled accounts for th8 year ended 31 August 2021 an(1 confimi that comply the rwirements of the Charthes Act 2011. as amended by the Companies Art 20(B. the Artides ofAsSoci aThJ chwill Staement rm R8wnMeTh f>ractice ISORP> 2019. BACKGROUND L1 Parf( Tt is regi¥ternd wilh Chaiity CoMnth. thrfty numbar 309144. It was iwora In 1920 as a compary limibj by guarantse arbj rh)t harj any 8h¥e (c4Jmpaiy nwnber LX11719WI. Responsibility for the gov8marKe of the Trust lies w?th the Gmm¢ys. Tr membors of th& Board of GoverTr)rs, Trust's key marwnt registered adtress are as listed on pag95 1 2. Pwticulars of the Trusrs woks5#¥1 adv wo 9¥ page 2. OWECTS. AIMS, OWECTIVES AND AcTITITE8 Charltable ObJ•¢ts Leighton Pa SclMx4 at Read& m acurdarKe wilh tr r1gLL4 of the Religious S(Kiety of Frd8 (Quakers), ts Ihe edtiOn of dwldren of rnernte of the RelKJh)us Sodety of Friendg {Quakers aThJ olhers. Other broadtt educatKYAI obie(ts and t0 listiThJ aLthorili88 related to business ObJ•thos f(Y th• Ymr a leading schod bc4h regiondty and mNe ld. one thai18 krrf>M) kn it8 thslirKtlve ethos for tts te8thlNJ ar#J leaming. Prlnclpal Actlvltl•s The Trust principalty mawges the school kncmn as L•9hkn P•k Schod in Re8thrvJ, an irKrKlent. ( educat)nal, mixed day and boaryliry Second scaKxl. Cr the wurse of the year the Thmber of Stlents was sle Imih a SCI[ roll of s al thè end of the year. Leithton Park scho is a twting CMn there. onty atojt 30% of the sclKol board, Ihg day students are fully inlegrated Ihe boarthryj ¢Cmty. Day students normalty share thè trthsey wth ts boardfjrs arKI fLdty join in &livil arKJ arn en to stsy all meals duriry the day arKI evening. Across the sch(K4 there are approximatety 6¢Yh Iws and 40% girls. STRUCTURE, GOVERNANCE AND MANAGEIENT Govgrnlng Documént The Tt 18 gOved ty bts Artides ofAsso(iakn daiThJ fr(n 1920 last *nended In 2019. G0mIng 80ty The rnNnt>Br of GemOr8 is l•d Ihe Arficl88 0fAs8(K¥. Fiierrfts we aFvointed by Lewn Park
LEIGHTON PARK TRUST GOVERNORS. AND TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 RocrnknnI and Tralnlng of number corrylete tsr peiiod8 of offKe in e& C year. TTr shdl hohj crffic for a perKd of three yoars arKI UF• ¢omplots'M oftha¢ peii¢># shall. rf t romain qualrfd. bè digibb for for 8 second temi of three yews. Nvhty appointed Govern Satisfy Ihg Bowds tequyement with regard to 0gibl1. spw) skills arKI lo(xl availablity. Nthy Govemors are irKIted to of ts Twst at held wilh lh8 Chair of Govemors. iThJuclion pgck that ilKI vwious inftxnthon Religious st of Fiiends (Quaker81. fesponsibllrtle8 of truste8th and G)venNOp. InfM.on the 8cIth. The Trust w>mote$ GovoTrKJr Irairing Lyganised by the Association rf Go¥wryng Bc#es crf IndeFendert Sthods {AGBISI and Friends. Schcd8' COU11 (FSCI. tcplher ith othw •pprcfflaté CCAnes and Seminars organised by third parties. In addon, the GoVeK¥s IK4d 'AwayW ThKh UsL w)clLJ8s a tralnl s¢ssiM ¢)n a current tqxc. year. The8e w0viOn8 reman in 81 the rep(xtirvJ date. Responsibllity for overal mrye and eontrtl of Ihe the govttwee of the Trust Ile8 wllh the Board of Goverrm meet at least three times a year. Tr work of impiemerting most of Ihelr i(yes arKI deciw¢Jn¥ is carried by the Te•ing aTvJ LIng colttee, Pastoral arKI Safeguardirvj CommNtee. Busines8 Commllte8. E8tate8 Factie8 Cunmittee and SLT Remurrkni Commbttee. This core strLvXuTe is SUFPOrted by othw c(¥nmittees and rthrvJ w)ups a5 requlted. Al of th98e mittees normalty mget atlgast twmty ry as requd. The day4Trday runnirJ of tho schod 1$ delegat to tho s¢nity 0ffi¢ors {H&l. tho Deputy Heads, Bursar and Olrector of MarkelirKJ and A&niOn$). attend netingS of the abe (except Nomlnations Committee}. This grow 18 c$1(18[ed to be ts Tr5 kffy per8ml. a combination of bos¢ salary be that a set by to m•knt Nmi$. The clMittee ha8 access lo exlemal advice benchmathg data. Group •nd R•Ion3h1PS The Trust h88 8 Ttlty sthithary con4)any. Lht( Park Enterprises Limited. T08e The schoc4 activety supp$ the attaknmenl of ligh stwvjards in the wmlepthl sChIS sector throu netwoing with ¢)thgr aTrJ participati in the aLt¥ibe$ of awopriats asxKIati to which tho school bdongs. Tr 8tod al80 COOPW8t8S ith 8 rKAnber ol local schods. charTlies and other organisations to oplimi5e the use of its falties. The xhod eni(iys ts supwt of an active pths. assodab'on and ofthe Old Lelthlcr4an8. ¥knose 8urv)rt 1$ apated and a¢kred. Local Communlty Unks beiry able to host the usual level of xtivit. corrtir•Je to devd4) li<S with Reading Quaker Meeting and lo improve¢¢W¢tion Vilh ts Univw¥ity of Rearfiry. the Rea(k'rvJ Refugee SupportGroupand Ett¥Gal Readlw whlch hdps Ic¢al organisations InCate ethical values M)to their ac'¥ibes. Volunts•r¥ Due to Co¥id re8triciiorts during the yew the Pwert •)d Staff ComMty (PSC) have r#)t C9anlsed and staffed any school ovfjnts. 1WJer GovwrKX5, Heaj and serwx olficws ofthe school remaln most gratefvl ts the un8tintYKJ SUPPCA1 oftr#s vakd tr*)dy.
LEIGHTON PARK TRUST GOVERNORS. AND TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Acc•ss and Burnary Pollty The Tnjstees C(¥ffi I1 So¢liM 17(51 of ts Charlties Act 2011, to have due regwd to thè guthice Is8 by the Charity CoMmisn (m publc benefft. Public benefit al80 covered on page 4 (L(Kal Crynmuimty Link$} WKI on pag8 7 (Outroathl. Leiglkn pa Sthool wdcomes chiklren ofam from hithin the Lknited Kiryqdom arJ over8e8S. arhl uiteria for admissions can be acceswj at th8 SCI¥) ww.knhta1k.CQrn. The Boar(i of Govemors Ixrsary awards as wnpthi n l'rj to enwr6 that studeth from familie8 whomld otheTh¥ise be able to alld the fees can xcess the educalIc that offets. Bursary rd8 can be made available to those tK> meet the enty ruemaI and are made after assessing parenta means either beth a StJrt icins xhwl crf to relieve hardship wthen an exl¥ting 8ludent'3 edlK9ti k1 be ai rtsk. exanple In Ihe case of parert81 rthmlarry. HOver, Lelghtc Park Schcd18 81nx)st tc181 reliant on fees aTrJ in fundiTrJ its Wd$ it has to ensure that Ihere is a balance beb¥88n f8e-pawng par8nls. many 01(n are making QJnswknb p&son sauiffices to fund thelr chlld's Ttd8 yew ts value of means tested bwsm t(rt1 £453,057 (220. £4(.1081. The scth offered •8sislance to 33 P020: 30> Stnts 14 (2020: 15) studwts be[ from lyJr¥aries greater than 8. The value of moans te¥ted bwsorie¥ aFvoa¢hed thè W&pan1¢ levd. Th8 was paruy offset by fees t¢ing redu in re¥se to the pwthic the 8dx)ol to mcNe to rerTr)te leaming for Sev wB6ks of WiNJ Temi 2021. Other Asslstance schc4ar8tiP8. stents may be wded more lh scWatsi¥p It V•ill cfftly re¢erve the financial beneffts of thich is a maximum of25% ofthè day SIlent fee. This year the value of schdarslmps was £118,990 (2020.. £120,60n. The scknl Offe isc(yJnis there rents hw8 two or more childrnn In T•)l•l Avmr Thls year. the value of bursaries. 8c*olarnh¢6. d8c¥xmts. and other awards mth to the school's sludents was £1,067,717 (2020: £1,015.202).
LEIGHTON PARK TRUST GOVERNORS. AND TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 STRATEGIC REPORT VISM)N STATEIEKr Lelghton Pafk is o leading. indoFwbJont ¢tse(kmx day aTrJ l>JdwvJ ¥clknJ In 8rilaln. Lwton P8th'6 central purpose 18 to fomi paople ofreal Cter. independthKe aThJ confidence. with a dotemiined deslre to change th8 worfd. This Ikms from our uni(w8 blend of deep Quaker values. the meanlngful onngCtion¥ bthvÉM our students arKI aff. first4lass acaJnic p8Stty4 SUPKyL wr hdisti¢ apwoxh to leaming. Ow ryiirM)nal and sutwti¥e family.tsd environment enthes us to deliver REVIEW OF ACHIEveMEiifs AND PERFORPJANCE FOR THE YEAR The sc rem•ns true to the values ofthe Quakers shrin&y in rts founded upon Quakerte811monles ol Integrity, Equality. TnAh. SimF4h?ty. &J8talnability. Colled {8ssembly) and Meetiry for Worship Ixing tcWlw at $P8cial times fty txrt stylor FWiCts of reflgdive quiet often the 8th0 d. AM d th18 lId5 a t8ry.ble serna of eAlm and p88ce thal p8piad68 the Park. The Go¥eTr)rs use a range of key pwftxmance indKattn to mor¥icr the Fwforn)ance of the Trust, fiich indude PUFII numbors., $taff.'pupil ratio; 8¢•J¢mK •dMevwnert. finanoal and $ustsin•bilty moasuros. to leY¢ ¢harrtable 014eGts. The Govemor8 h8¥e regwned regLlar Board and Commlttee m¢etlNJ8wlth Acad•mlc Ldghton Park's 8uccess 81 Kay Sxage 5 h88 rwmsed by Ihe gove81039u0 t8$ for Slxth FO academK prograss. Latest figLfeS shw it to bg ts top in Bwkshirg aThJ 2 England academic prow. Ldghlon Park one of fAty thghl SC natiorAIty to appear In the tq) 100 ery year SI the leawg tables bew. A resutts in wmmer 2021 were very plgasing. Th8 ¢ohort rA)r(led an impresslve 72% A"IA rate arml 93% A". High scorirKJ 84ds Hickn1ed Maths (72% A'IA). Fr Maths188% A'IAI. Phywcs193% A"IB) Art180% A"IA). Digilal Mu Productw Le 3 BTEC. •leI lo4 D111. In CTEC Swt. Lwghton Park stjentS avw of 35.S (thg hifvl in tho Ixsttyy) again6t a rthdVde average of 33.0 points. The 8chool's GCSE re8ulls also very pleasiTrJ with the 82 stutsm co7 aChIng 29.5% al grades &9 equivalent vAth 13.8% at grade 9. STEAM IsoerKe, ervJKwir¥J, •ts and maths) subpcts p&fmed vwy tllh wades 7.9 kn Maths 54%. Chem18ty 7VA. Phy8lc8 74% and 81ology 67%. The s¢trbxl w)n the awwd for Ex¢elbwth h STEAM EthKirm 2020 la8t summar Year 9 STEAM 8bJdent8 receNed their Bronze CREST this SU1 - a naticmally recogni scthgme from the British &ience Association that inwres ywng pe(We to think aTrJ behave le enliSt5 and engineers. Sixth fomi 81uderrts •irvJ A tevel Poltics in the ISA'8 Pthlic Speaking and Debal Competition. They wereddighted to bg w•rnrded the overal trophy and iThvKlual •vards. GCSE Dance stutknts shcA¥cased thw'r lalw)ts in the IS4 Nationd Oartt coMtr. securin9 awards in both the KS3 and KS4 categThs. and expertise as (&llded Distsnce Le8miNJ 7Ka8 fnt of ts ¥ing Tam lollowing govemment guidance on thysical Sc1xI dosure&
LEIGHTON PARK TRUST GOVERNORS, AND TRUSTEES, REPORT (COPrnNUED) FOR THE YEAR ENDED 31 AUGUST 2021 Co-currlcular Leightcm Pwk 15 0 vilyt c(ThmLnty arJ ttls 15 reknled of o¢tsvitws urmIken by students. both at home aThd abroad. MY of the aclivikn, alttwh sUpPd by the teaching Staff, arg driven in 8om& SeS inibated by tt18 Stud8rts themselves. tt 1$ this levd of creativity. InitVe and 80cial reSpOnbIlIty. c¢Thmbirnd V•ith the of iPerth baming skills. which makes o Students purKW)seful and f to Oay Iheir part In the th1. Des an unusual year wilh bbled lewnlng aThl lille (Ayxlunty for off-&ts visits, a busy programme of Co-curricular took FAace adaptations. The colcUlSr prowThne Or1898$ students to ty new things. thscover talent and go beYj their (r expetstiLw. Regular activ8$ such as dan¢e dub, book dub arwj took pla¢• (okn (M10 Inthe Path) al¢81de new 8mval8 indudiThJ adventure club axl girt's nw. Mental health awareness Is embedded fnto Ife al le1 P•k. Lvhv Sixth Peer undertook mentoring and saleguardirYJ trainirKJ have s1ed yourw studthtts. PSHE sessions have explored Issu8s of r8silience and Well1ng. In line with ttms yearfs naknre theme. students have eryoyed eC09Y walks at our neighbcwJing unive of Reading wus arnj taken part a series of marathon walks, raising for Yo(mg Mirwjs. and Inclusion Officer. Di¥wty Vkek celebrated LGBTQ+ alty a(xoss the UK fund raised ts Mermaids UK a yLwrwJ peopk's traw&i1er wmxt There have teen further irNtHtives io increase StJts. enesS of envlrcmental Essues and to glve them the opportlty to make pogtiNp charwJgs to tsInabthty. Tr Fryw Eco Cb has instslled Soven rocyding wnts arouThJ tr Pafk to eokecl rewth crisp packels. Sixth Fom) students attended a Climgte Criss Vbtyksly at the Univerty ofoxford's School ofGeography and thè Erwironment. This In¥olv6I 8natysing tsMse¢wws of dimate Werrtial pcAicy reSporS. Our Imldlrfe and Vkllb8ing Garden desww ¢Witn tor the T(YATrS saw inrMThJ ertiies devewd into a final plan has now be landscap&J aThJ plarthl. Outroach As part of our active OLrtreach prowme, ¢tinu$ to vthk ith a gro of local schctls and communty gro18. We de1hled to be wmcrtjnced as ISA School of the Year for OLrtstanding Community Invdvement in 2020 arvj selected as 8 finakst frthe 2021 trds. Leighton Park 8UFVryted a rKJ• of hxa ttitie8 thrltvj 221. In uAlthration With the hrtleY Community DevelL¥ment Assoo81ion. th8 Schc(4 erUraged families to suppyt fdlw familw in the I81 crynmunty wth Christmas gift boxes uiven to those most in need. Olher tharities benefitting from various SclKhJ fun<traisirvJ initiabves vffjr8 RediFo(Kl and th8 A]&der Dèviro Chilthn's HosrAce. ring the Aubjmn Temi 2020 Year 10 Nyls took part in a Literxy Va)t(rrirg yoymme. The pr(wmme paired Leighton Pth stsjdents lhith Yew4 Stlent5 at Loddcfft F4imary Sthool to Wp those struggling vrilhlitoracy ttwh and l*r
LEIGHTON PARK TRUST GOVERNORS. AND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Musl4 Droma and Sport talent and davelopment this year. In May LTh of ow Year 9 pupls wds of 11 finalists for thg Berkshire Young Musiaan ofthe Yearffin$. Jung 2021 saw iv ofw KM)ils rwised by tho IPAfor Uir ¢raativlty and skil. lIh w being awarded Ikst 8¢e for KS3 th8 th bery highly eommended in KSS. In addition tothi4 a Yoar 10 wpil the ISA'S Mw•lTrwtre KS4 wlh a p(wrful rendlllon of Reqiiem. There have be several fdms entered in ISA compebtlons th18 yew IrIng IvK 8hort ffilms 'Dear S181e and 'sthr SFie8' proded ty Year 10 and 11 pupls respthety. Perhaps ts most nrAablg prTrJucti¢ was 8 collab(Yalion from our Fryer and &xth F dr8 L)s. Aa.j to Covid wJelinos Ihay tr6 able lo produce an exllertt laptatiM d'A C]sIm8$ Carol,. In Arrfil 2021 thè film was recty)Ised wSth the Adjthlicatofs Special Awwd for Best CoslL¥ne and Prw in ISA Da CrynpetI. Despitothe $uspwth offixknxes theAThn ¥#J Swr8 Twrr. th6Sw( PE KKI wInesS Othent delNered eFvJagirvJ arvj Competiti Xi¥ibos. SUMM Tem the Thelcome retum of finter4d1 rlre$, first ol whfich re$ed In rwils wothiTrJ impressive ryns in tennis aganJt Pangbrmme College and The Oratory. Netball uKket LKth fe&wed lighty duriry the Summer twm. dld Indivldud athevenwls wl&4le of trA)th on the tra and In Ihe pool. FacMKI•¥ Thg ntinU$S to invest In fits trtiklings and th'lties to re thal its sttwjents have the best envlronment In fftich lo leam. tnj the yew VIP C(¥nF4rted the refwbislwnent of our junior bogrding fa(alitie8 in Fryer House ned trM8 io sludents kn SprwvJ Temi 2021. This offers m¢)Jem and comfortable 8cdal space8 for day and boarding St and has vwy by parents and StnIS. We have commenced Ihe Tefwtlstrwnenl of •KI fvfully ntrwbodg¢ the supwrt of the Old LeiWonian ch in helrAng fac¥ta tra8 t¥k. We have also replaced our tmgh Iwnplan. I0lUMP run up w¥J IJsc cwJe. hav9cLe¢9d a mai(Yrefil ofts smmIng pwl pipgWQ to improve reliabilty and effKienw. To make site sustaln&A& trAve r8rAaced more lighllng t4ih LED. exCellee in ils pastoral care. from safeguwding aNI its stjd$ in bwlting and thts Centre to the way Ihal StrtS fed abcx Le1lton ParfE. The has invested in a Student SeNices arKI streryth for dl Stud bul Parti1¥1 tldern kn thi8 ha8 been ffiJrttrenh8 ty extending the range of activfties on Satufdays and sUs to feIrrf the studgnts, we8keThl eXwI our lilY and vibrant boar(liTrJ community.
LEIGHTON PARK TRUST GOVERNORS, AND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 FINANCIAL REVIEW AND RESULTS FOR THE YEAR Fcf th& year ervjed 31 Au1 2(r21. ts WJFAu5 fLY the Twst w¥J its subsKliary compary vms £332,58412020.. deficit of£726.647). The Ults for this yetrindude net on investments of£377,456 12020.. not losses of £289.810}. The re8Ld¢ for year was impxled ty th8 schod delrrfering seven of Its educational offering in the Swr4J Tem on a renk basis. As a result ofddNeriTrJ on a remote basis part of the year OVing to paNlemic. the thwged redLKed fees to all sbJ¢nts wtti¢h reduced fees receiv10 by £0.4m (2020: £1.2m). The irrw# ofthis was partty offset by rnded caterirvJ costs and from ts CO¥{ruS Retenti SIMe. gain$ on m•ket Val on Inve$kn YAwe £81.616 {2QO: kJS8es of £55.131> and o inveslmenl irKxea8ed to £3,724,LM (2020: deueased lo £3,365,982}. At thg year evKI cash on deposits vAth a maturity of Itss Ihan tlyee morkn ere £152.258 (2020.. £151.734) and are Indled In 81vJrt ten inveslments. In roSp0 to the c(x(YthirL&% p¥hjwn. th8 CIK(xow lthrnwtion Loan £2.25m laFplied for in 2020)was dum in Dec4mber2020. Intwe81 repayments on ttis1o are theto start in January 2022. RMeNe• Pollcy Total fund8 held ty the Trust and fts tradiNJ sthdiary cxynFony at the year end are £15.846.3W (2020.. £15,513,808). Of the total funds W.033 (2020.. W.150) are restric fwKl$ whith are oxplain&d in more dètail in note 21 lothe fmrt4818tateménts butare rKrtavallablefth6general purFoses ofthe Chty. £301.087 12020.. £299,930) of tdal fun(ts aTrJ are (ksignated ft>r h019r$hip5 and prizes. £16.429.52812020'. £16,504.003) (rf trAal lunds (net assets by the Tru$ll relate to fvnclional fixod as$8ts ftythg Tfusfs use. and nctiOn fixed assets fijr thg T18 U8e. There no free re8erye5 for Ihe woup at the yew. nd. The Trustees. alm is to Md fuTrJ8 we suffidert Ixrt Mt exces4e in older to fund operalional requirements and futwe developmwrt. Tr Trlee8, pdicy 1$ to hokl fr89 reserves yivalent to three monts, ann expeThJiture. Budget U81 exper for 2021r22 is £13.4m h8fK• the woukl require free reserves of £3.4ffl. The Trusteas monll0rvnNJ to0the oblh¥Oon8can be met. Vknklng capltal needs are met by sclv>J fees received wd. rf rncessary. ts agreed bank overdraft facility. The avn is to budget suffiaent wrykirwJ caytsl the need to maké disposals from CAf re811886 a88et invesbments of £3.7m (2W20.' £3.4m) l¥ch siyport wwestricted fijnds.
LEIGHTON PARK TRUST GOVERNORS, AND TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Inveslmfrnt Polky and ObJ•cllvo8 The FYinGipal a(vty of Path Tnt 1$ 0Wati of P• Sthool. It 1$ th8 Intonlknn of the Trustees that all the norynal experws of Tnirvj scKX)I, I1r¥d the Cost f sctrK4arsl¥p5 and bursaries granted. Stld bè met frtyn fees paid in resp&# of studts attend the sthcA)l and from other income germated from use ofthe sch&S premises. Consequentty. th&firK18avallaJlef0rlnves are Inten lo be mdabb8tO8upp(xlthe bong-term ftrture ofthe school and its d9velopml Tlw are rn)t int to sub%di8e opwatiLThl costs, forwhich any short. twm ficc46$ are met thrOah overthaft thllitie8. A8 SLth it is dedfable that the fimds grrM ovw time at a rate in excess of the inllat¥)n rate of those expTh8 related to the nmnirvj of a sch(wJ. It18 the Trustees. to exdwJ8 from the Investn pNlfc4io(s) th? folknhiw.. for milrtary arKI parwnilitary use that are d8sigd to knll, maim or destroy. P8rde5 Ihat supply stsrKlwd Corrts. comnbJbes or servtis are not exduded this dause. 1888 tt 18 Inve8tmerrts in compwmes wimwily in the sale ry mowfarth of akohLI or tobacco. Investmerts in com185 wThwily in (rf rnling that is a matter of parbwlw to <knkeTS. Invesbn¢rts in ¢omwrfes that trove MSCI"red fiag. score of O or 1. Investments in comleS that exploit clw lair. or Ththo oFwate kn ¢wies Whe trre we INJ violatiora (rf rights. The Trusiees wish to supwt entwm Uwt a(hJress authentbc human ne8d8 ¥thtKh hude, I1 are not Tho Twsie¢$ monitor the pthrn of thè InvestTh manerS wnst a berthmark agreed the investment managers from tKne to time. The Trusleos rthi to ameThJ th• benchmarks 8$ 8Kyopriate after taking th[(. The Inve¥lment poli¢y •KI Obits a revivAed rewlty as part ofthe pr(eSS ol re¥j the Trust's investmwrt p8rf¢mwK• 18 mwurod rngthty8galn8tthe compled tyAsset Risk ConsLknnts (ARC). In this p&tcular year inve8tmert retwns 13.3% cPared iih th8 ARC BalwKed Piivate Client Indices PCI of 12.1%. 10
LEIGHTON PARK TRUST GOVERNORS, AND TRUSTEES, REPORT (cop¥nNUED) FOR THE YEAR ENDED 31 AUGUST 2021 Prlnclpal Rl•k• and Unc•rtalntl•• year 2{y221 the Schod folbThed ernment ldance in orderto make site Covi&secure. Goverr p1 Senity LethrshIpTe ISLT) erlS8. 0n18re Aeto delbverthg academ, p8storal co<urri¢ular prcJr8mme tA)Ih cTr81te and rtelY when rwlred. Govemors and the SLT c¥tinUe lo be mindful ofthe ImwA0fwKwtsinty8ThJclwuo41b1Iry OfIts oThJ staff M1 cffitirthto mc this carelulty. The Trustees of Lelghton Part Tnmt we cryffidwrt thvt all MAYX risks are b8ing ged. The prin¢ipal ertainty idenlffied by the Bo¥d is affordAIty of the fees for parents and the subsequent risk of the school not belng able to altract sufficient students to make ts sclK)ol wablg. The Bosrd l¥, however, satisfied Ihat the Head WKI the 8wsar are wnmitted to rxA)tnirYJ o)sts Iheir Contr ma811n9 the ben8fft8 of education al the school to sttvJ8rtS 80 that the18vd of fee iTh7•a60s can bé kept to the minimum sustanth levd. A fther urertaInty Idenbfied by the Board is the ll$ty oflhe sclth to recLl and relain suitabty qualified teach¥ig support staff. Th? Board mwggs tlis risk by pay WKI conditiLTh in lino th market noms tO9elher V4ith a pIll¥e w0rj eNrorrn Rlsk Managemènt The maitt ri8ks to the Trust aThJ its trSrvJ are expowj are reviffi¥ed regularfy ty the Trustees aThJ 8erdor officers. Rlsks are Odenbfi&l. a8888sed w)d apFXOFrfiate contro18 •stab'shl. Th8 key ¢r01$ lry Trustees are: Fcmal agervjas for am Bowd and C(Knmrltee meetirwp". Detailed terms of refererKe for 1 Committees.. ComFfehensive strategic kxhtying arKI acoJxrfirKJ". E5tabtished ¢Nganisational SInKt WKI lines of rewlw¥J: Formal written pdi¢ies: Clear authorisalion arKI approval levels,. a1 Thrwh thls rlsk managThtt woce88 the Tw8tees are sa11sfd that mw risk8 id8ntified h8v& been mlti9ated ¥rtre necessary Inswed where aFvopftate. It is rectrjrlsed that Systems can CAYY provlde reasonae. but Mt absc4ute. assUrae th8t mw risks are i1j adewatety managed. Dls•blod Per8ons Leighkfft Park TnBt is an Equal Opptune$ eThWoyw. It 1$ lh• TnBt and its trathng Subsidtary companyg icy to treat all em1)yeeS and job applicarts lamty and ewdty regarde8s of thew disability. sex. rnce, 8exug10riontation, maritsl status, ccknir, na1Ky. ethnic or national origin. Futhermore the TnL8t its tradlro Sthsbdlary comparry enswes thal no re(wirements or c(¥¥MKS are imwsgj ¥thOut jLtifKalion that could disatttanfage iTrSviduals soldy M ary of the aty)¥e gInY$. The poty aFolies lo all aspects of Employee Infornmtlon Leighton Park Trust has to irNest in pwle 8t all Ivrts in th8 orwisabcfft. as we see this as key factor In m8inlainirKJ and ImwowrKJ wrorn In a8Fects ofthe tXJ8irths. The TrLt arKI bts tTh3ing subsidiory company attaths HnF¥ytsrKe lo c(ml109 aj relations Voith ploYees. Meeting8 e held to fulfil IN8 obS•X'vewhen apworrfbate.
LEIGHTON PARK TRUST 12
LEIGHTON PARKTRUST 13
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LEIGHTON PARK TRUST Oplnlon We have authted tho fmThial Statwnwts IA P•k Trust (U th81itth and its subsidi8ries {Ihe 'grO.) kn the year 31 AuSt 2021 ¥thich WTFrise the jn8d1dated st8tement of fin131 aclwitses, the cdated MI ccnpany tsa8 sws. Ihe consohdd stalement ofcash flows arKI notes to thg fmanoal ¥tatsments, irKluding signific¥rt accounting pSiLi8s. The finanoal repOrtg framevth that has been applied in their wewation is applicaL48 law arKI United Kiwdom Accounting Stsndards, induding FRS 102 Tr Fin191 Rwting Sl8nd8rd 8Oice in the UK and Republic crf IrelarKI" (ted Kiruthjn Genwally epj Acc(wnliTrJ PtoI. In our ¢)pinion the finwKial statemerrts: gi a t ¥KI fair ViV4V off state ofthe grw>'s •KI parent clwrl)le company's affatrs as at 31 August 2(r21 and of ts wp'$ Ir(nry T8¥QWCW arKI applicatiw of resource$, includin9 lis inc4Nn• 8NI exp¢ThJiture, th)r year t1 endtsd" ha b8en prcyerfy Prepar in $¢¢(d0 with Urited GTally Acc4Pted Acwjnti Practice" and Bas1¥ for oplnlon We condLKled ow alit n occud ith Irarna knjwds on AlI{j (UK) {IS48 (UKI) applicable law. Our responsibiliti88 under those Starthth we fulher de5cd in the Auditorfs ye8FonblliI1e$ forthe athjitofthefinancial state18 s8con ofowreport. Vk are irepernI ofthè group and parent chaiilat4e company in ance with th8 ethical rrem thai are relevant to our audit of the financial StstemlS inthe UK. m)dling the FRC'S EtricA Standwd arLle havefijffilled 0th•thi¢81 resp¢11.es in aCCorde wilh these reQrents. believe th the •Jtht eV1dw we have obtslned 18 sufficlent and q)propriate to W0de a ba818 for our 0ptrth. ConclUOn• r•latlng to goINJ concern In •Jditlng Ihe financi statTh)ts. have conduded that the trustees, UAe olts sN)ing ¢cm¢orn basi• of ac£ounling In the preparatiC olthe finwml stata))ents is or CondOn$ that. indmdually or collttliy. may cast siwlficant on thè gro,$ tr parent charitawe company's abillty lo contlnue as a wng concem lor a puknd ofal lea8t monts from Wh tho finantsal statements we authori8ed for issuè. r88ponsit41rfies ar the reSP(tIllI188 of ilh res10 goYKJ c¥xwn arn dewibJ In thg rdevant ¥¢¢tim5 of r¢rrt The othér Infomiatkn ¢omww the infcmth in AnNMI Repyt other than ts firrancial ststements and ow wJditc¢s reFJi thereon. The tnLslees are responsible otrw InfOatIOn Ly)nlaingd thin the Amual Roport. Our opirmon M the financial Statem ths nLrt cover the ollw lrrfrym( and, ¢onduslon thereon. Our rosFwsibility is tt> read th8 otrw Inf<ThOn WKI. in doivwJ so. ccfftiderth otlw infrymalbon is ma18rialty in1$At Ihe ffinan¢1 statemwrts oLrtain8d in the course of the at or henNise appearsto te materialty misstated. IfE VJenbfysh Mate irKon8islWie5oT apparwrt matw?81 misstatements. are ftr4uired to detemSne IPw$ gples ii5e to a matsrial misstalement in the financial statements Ites. 11, tS&j on have c(¥xlJ0 thal there Is a mater1 misstatsment of this th inf(xmall. are reryired to report that facL We hwe nLthiry to rewt kn INS regd. 14
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
LEIGHTON PARK TRUST (CONTINUED)
Oplnlon on other m•tt•vs pr•scrfb•d by th• Cryanl•s Act 21)06
In our opinion, basgj on tre WO unthrt&kon in ts cowse oflhe a
the infonnation given the Trustees. ReFrt Tththich iJUd8S the DweKlors' Report and th& FAraloglc
ReF preparwj ts the purp(ws of ¢(npanY I•T. for the finaxlal year for tthich the fina)aal
prep¥ed In accg)rdance ¥Ath applaAe legal wulrem8nts.
l•ttm on whlch * •v• r•qylr•d to r•port ty •xeèptkxi
In the liw of the krtsed9e ar#1 understsrM1itvJ of the aThJ th8 pwerrt charitabbg c(Knpany and their
environment obtsir£d in the ClSe of Iha athI. we have Idfied material misstatements in Ihe
Dlrector8' Rewi or the Str8twc Rei>yt indud8d itr4n the T?$,
rep(Kl to you W. in our cynKM:
adeqle acc(yJntiThJ rnc<Kds have Th)t twi keFrt thwitablg rnpany. ry rotums
adeqLth fw our autht have nol been rewvgd from branths not visited lry us.. or
the parentcharitabknCw¥wyfinIal statwwts We not in actounling records
8nd relwns",
cethn disclosLYe8 of trustees. nurtIOn SFedfied by Lqw we not m•Je: or
ReBponslbllltlo8 of trnst•68
As explained morè fully in the 0fTn. respwblities set out on pagg 13, the trustee5 (v
are also the directors of the c
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LEIGHTON PARK TRUST (CONTINUED) In idenwng aThJ avJe88ing ri8k8 of merbal rrdS9 In respert of lff&Jul8rllle8. hKaLMlng the audit engagemerrt le.. obtained an und8r8tandiNJ of the nature of the se¢Xor. irtludirKJ the 81 regulattyy framtr4¥ork8 that the group and parent company owate in and the wp and parent charitable company are complwng tr18gal arKI regulatw assessment of the risks of irT&Julwities, itbdirvJ any krKYAn actu81, S1P8¢t8 OT allgged instsnces induthrvJ assessment of h(waThJ s1erTts may b8 susceptiila to fraud. ImpaL on ts fin8rKial Statn we FRS 102, Ch8ritr8s SORP (FRS 1021. Com105 Act 2j6. Charities Act 2011. the pwent charilable compan5 go¥Ing charit {Pn)tecbon and Sodal Investment) Act2016. Wo aJit to dgtectrwxpcomplianceswhich may have a material impact on thg financial stements ¥knich althd the finan4 statern induding Th'rector8' Rewt and remoining o1erttonew0runu trwmactionsvrtwch may in acoxdarttwrih the &4wemlng Thg m¢)st wgnThlcant law5 a1 rlatIcS that have an inthrect impact the finanud statements are Tho Education IlrKlepetht School Slandards} Reg11 2014. Keeky'ng child Safe in Educatfion der seclion 175 of the Edation Act 2002. aThl the UK General t)ata Proteclion ReyatiOn (UK GOPR). V¥e perfornied autht edureS to Inqulre of cwed thllh govemanee tsther the charitat4e company 18 in tArylh th18•3 ar fegul8tion8 and wispthd c•oncé with The group wd6t engapmert th1tif the risk of Manag (Nerridè ofccrf)tr018 89 thè are• where the finandal Statem wwe most 8Lwtible io matwial Misstate to fratk1. Audit procedure8 perfomed In(Mled ere not Ilmited to testing Mu81 ioumal entriè5 and cthpr adjustments, evaluoting the buslness rationale In relalon toary 819nlknn( uMtsuaItr8rtsttli errtwed into outside the nomial course of bUrS8. AfurtherdescrWon of ¢yx respcffl8lt4lllle8forth8aud6t of thèfmandal Statemts is prtyid&O (mthe Fnondal Repth1ing Coundl's Wete at htlp".Ilwmw.frc.cry.J41rt01$r0$ponsIbIItrs. Thi5 d88aiPtion frxms part of our audllorf8 reixxt. 1180 of Our r•port Thls report is made Soldy to the parent cAfftth compary's Memb8. a¥ a body. in accordm Chapter 3 ofPa116 ofthe Comwmes Aci 20. WCA h•$ bgon wd8rtaken so thatwe might State to the parert charftsble companY8 members tl¥Jse matters wè are requirèj to ¥tstO to th8m wi an au(*iorf$ rert ar for no other wrKh)se. To the fiAlest exlent pem)itted ty law. do t Kcept or 88sume responsibillty lo anyone than thé paffjrt dwrit8tle ¢(thpwy tho paront Chb cL¥npanYs membws as a Ixmty. for wlil th. thi$ the opiN(m wg I8 ftjrmed. Kerry Gallaar (Senior Slatthry Aj11> For and on behawol RSM UK LLP. A David8cK) Hse. Forbury Square. Reading. Berkshlre. RG1 3EU .. 16 December 2021 16
LEIGHTON PARK TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021 Total 2021 Total 2020 fLmds INCOME AND ENDOMIENTS FROM: CttarltatAe actthtie8: Sthol fees recthable Ilary trading inc( other edLKational chaiitsble 8¢tyvilies 12,329,105 177.762 12.329.106 1ri.762 10.681.759 152,299 64362 Otrr trading activities: Commercial trading 75,558 19,380 75,556 19,360 118.432 9.617 01 Inme Govwnmgnt grants 187.825 167.625 353,950 Donat$ and lega¢Es 14.713 105.766 120,479 88,841 3.186 98,623 Total Inwme 12.921.541 1Ckg,952 13,030,493 11.551.825 EXPENDITURE ON: Ralskng I8.. Commercaal trlng 73,960 105.580 122.805 54.704 Sthool ffina1ng costs 105.580 Charilable actswtie5: Sth)ol operaling costs 12.789,756 1Cfj.C69 12,896.825 11,811,153 12.969.296 1CO.C69 13,075,365 11,988,862 NET IEXPENorruRE)llNCOME BEFORE GAINSI(LOSSES) (47.755) 2.8B3 W.872) (436.83n TRANSFERS 420 {420> Net g•wlllL8e8) on investments 375,879 1,577 3TI,456 (289,810) NET MOVEMEfrif IN FUNDS 328.544 2.883 1.157 1726,647) RECONCILIATION OF FUNDS FLnds brouthl ftTh¥8rd 14,250.728 SYJ3,150 299.930 15,513.806 16,240.453 Funds carried loThYard 14.579.270 9ee.033 301.087 16.846 390 15 $13806 The stateMt of finandal 11¥11$ contsins 8M gains aTrJ Jsses In th8 year arwj the resuNs rewted relate lo contirning operati. 17
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LEIGlffON PARK TRUST COIISOUDATB) STATalENf OFCASH FLOWS (1207.7491 1619.S42) 1.538.141 3.987.9511 16241 Int•wtpthJ (17.7m 2m515 ¢1174314) 1174J14 (2.409.64n 131V19 1251110) Z431.OTI 1.489 19
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEPAENTS FOR THE YEAR ENDED 31 AUGUST 2021 G•n•r•l Infornmtlon Th8 Trust prinryp4ty manages tho 8CtKxI as Lwghkn Park SdM)ol in Re•Jing, w iTrJopenden( ctseducational. day and boar¢lThJ secondwy Sch(M. Tr irKorpyd charity {rngislwed number 00171900 and charity number 309144) is a wvate limrted by guarantee aThJ incapated arKI domiciled in En9larMfj Wales. &ldres8 of the charitat4e c4xnpany'8 regi8twed office and indpal place of busirw is Leightrm Pwk 01. Shinfiekl Road. Readiry. 8erk8hire, RG2 7ED. Th8 group 0)nSts of LeIght1 Pwk Tnffjt •vJ Pwk Entwpri586 Limled. The Trust and its subwdiory trading adjth nath of tlk Trust arKI ils trading ¢cnpwVs op&aon$ we disdosed in the Govemorn, Trustees, ReporL 8osl8 of accountlng R¢commerKbJ Proc¢e {•pplicat4e to tharit8 tryHrrwJ thdr Ounts in accordarth the FInala1 Rewtsng Sland¥d applicablg in UK wvj of Ireland (FRS 1021) lissugd in Octotr 20191- {Charibes SORP {FRS 102)>. Ihe FIn8JaI Rep10 Standwd applkabbe in UK Rq)ublic of Irel (FRS 12) the ComwM85 Act 21. Leighton Park Trust is a public befft enbty wKl¥ FRS 1W2 h•$ ljweftyo 8ppli8d the rèlevant pIlIC tenefft rewremerts of FRS 102. The finan¢i818tatements are pyepared In 81erf#ry. 16 the funclirml eJJrrency of the Twst. amowts in these financial statements are Iad to newest vlholg £1, except where ¢theISe indic8d. requirements (rf Sec11 7'Slatemert ofcash FIryw5' from of Staiemont The finan¢l81 stm•)ts he been ryep8d LY#Jwth8 h18tICal o38tcrKwerllon. modlfiedto Sndude the revaluation olcertaiD fin?1 instrLwngnts at fair value. The principa accounting policies adcpt¢d ¥8 set crt b81rM. Group IIMnd•l •iatsm•nts The finarKid atements cLvolI results oftt Trnst its ¢yrd subsidlary Lelghton Pk Enterprfi$e8 Llrrited. A sepwale StateMt of Finc¥al AcAivilM Irorne and Expenditure Accourrt is not presented for Tnmt it8df in £ordaThx with ts eXerylIry affonled ty (¢n 408 oftr C(npanl88 Ad 2. Golng concern The Trust madg a Suu5 fty the yew of £332,584 (21720: def1 of £726,647) •KI rt a8Sots at the Y end CA £15.846.39012020.' £15,513.acoi. a5 a resum ofthe ongowvJ Cty4Kk19 F4rthmi In Juty 21Y20 the entered into a f8olty agreement for a C81LS term loan of £2.25m ¥itth PLC Ihal was drawn 08mber 2020. The forecasts demonstrate that ts Trusi 18 expeGed to gate 8 surplus and cash In year endlrwJ 31 August 2022 8fKI that the T[Lt ha8 cash resw¥e5 WKI lo facilibes to meet Its obligations as they fall dug for a pj of at least 12 months fr<>m the date of swing these financial ststeM)ts. As suth. the Trustees have a reasonable exp8cl*ionthat theTt has adequat8 resour tocontinue eparing these finan(aal statents.
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 AGCOUNTING POUCIES (C¢Mrtln1j Bas18 of n8011d•uon The con801idated finarKaal statements incwrate those of Lght( Parf( Trust and it$11Y subsidiary (i.e. an erty Ihat the c(xtrds through its to govem the finarrial and operating x) &5 to oLain eco1¥y benefits). All fina81 Statemerts we made up to 31 Awt 2021. V¥twe ne¢eswy. We made by the Trust AM Intra-groLV tran8adlons, balms and un1$ed on Irwwcai¢)ns betsen lh8 Tw¥1 and its subsbth8ry are eliminated on consolidalion. Unrealised losse8 fe also eliminated un1885 the lth¢om• Scho)I fees recelvth and wKilay trathng incL¥ne are accOted ts in the perK¥J in the swvi¢e 1$ pr. Gros$ fees recep4atrAe we stated before d&kntiNJ butsaries. schc4arships. the tharity entiknent to the liwth. any Ferformar c4)ndib'ons att&he(i to the grants have been mrt it is wobable that Ihe income will be r01¥ad wn¢)unt cw b8 measurgd rellatty 18 not deferred. Irrtere81 on funds held M dwsit is rKavat4e and the aMC be measured rdiat4y by the Tius( this is nomMlly Up¢ nolification of the interest paid or payable by the ba(. Dividends are recogniwj dibrydeTrJ has b8en d&4ared arbj notifiOn has been recelv& oflhe di¥ideThJ due. This is uprx) by investrnrt a(fviterofth8 dmdend yd of Ihe irbveslJnent pothlio. Expondlture l expetre i$d1reaccwntodfor basi5arxl b8on da$sd und•r h•adings thal aggregate all costs relatwig to the categxy. Irw•cty4•rablg VAT VAT on revewe exp8ThJiture ththich cannot be reCO¥w is indLthd wth ts item of expenditure to wl¥ch it Telales. VAT on capitd expwbjbluffj ththi¢h ¢annol b8 Ied is ¢afvlised as part of the 1st of acqLiring the releva asset. Grnnts and dona Grants and donations are uethted to ts Stalement d FinarKyal Adi¥e8 m ttwe 15 8de certalnty of rept and entiuement and l¢xated to ar4)ropriate fund. Fund accountlng Thg Trust contains lh8 foltriry fvnd5:. a) Genera 0f(4wlJ retwd surplu8es •¥J areto be fjd trJ fvnd ca1 cl Restricted Funds are io be uged h) •xord¥tt vAh restricaion rAad by the extemal ovider of ts inc(yne. 21
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMEKfs (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2021 ACCOUNTING POLICIES (¢onlkny•d) Tangible fixed assets we stated at cosi less derK¢oati"on arKI any tO810n lor Impolmlent. The acqui81tion of it$ wilh a vaJe exceeding £10.1)00 we c•ali8ed WKI add8d to the tarvjiblo a58s. DepreCian is prOded on fixed assets to wite off the dIfferee betwn tsir cost re8KkJal Value over their estimated usefij economK1rfo a straw line basi6 as folhy•ts: FreeId lIng3 Fixtures and fittings Plant and Motor vehicl8$ 50 year8 5-10yew5 5-10yw8 3 years Assets In cowse of con8lnKtion are carr at crnt. less IdentlW Impaim)erl bss. C08t Indud86 wofesslonal fees and ollr threcty aUrilxrtabl8 costs that we Mcessary to 1rj the propety InveStrne are stated 81 mwket vath. Realised 8j wwealised gains and los¥es (m irw•strw In the 8eparate accounts ol the Tnrt the Irlw8St In 16 m88sured at Cost 1888 accumulated impalrment k)ss8s. Intwest in subsidrary r4 assessed fly wnparmont at each repJrtrrvJ date. Any Impaient losses reversals of Impaim)ent108ses are reco9nised immedwtdy in the Statemert of Finala1 Acli¥ities. C•8h and c•8h equlv•lènts Cash 8nd cash equivalents Ind cash in hwJ. dew8it8 Ij at cal b8rl(s aThJ olher short. A¢c•pt•nc• d•poslt• Acceptance dep)wts arg p•d to ts xMy)I to secure a forts dmkl at tho Dgpw'ts held fom) part of the general funds of the tr child leaves the SCI at thich point Ilw are credited without interest to the final p8ymw# (rf the fees ty Lthr SLffnS due to thg 8th)ol. Deits are hdd as cxeditors on tr bdanc sheet and are das8ified 88 omng V•ithn one year and over one year based on we eyp&#th1 to be ryeoltod agaknst in(%YM. Flnanclal Instrumgnts The Trust has elected to the provislons of Sedion 11 'Ba8ic Finantaal Instruments, Sectlon 12 '0ther FinwKial InStrts Issu85' of FRS 102 to au of its financial instrumwts. B•$i¢ finanaal assets, wlith irtlLKle trade aThl otrw d¢btcrt. am¢xA)ts trAed by wp undert8kJngs end cash and balance8. are initialty measurnd at tran8actKffl wice Iln9 trw88dion costs and are subsewrtty carried 8t wn(ttt¥ed c05t 1rj ts effeGt¥e inlere8t method unless the arrangement consblule8 a finanang tranalOn. v8re th8 finarKial asset is measured at the present value ofthè ful• rnceipt8 dip41nted ai a mkèt Ate of Mrtern8t. Baw¢ fm¥rKial liatAths. irN#Sng tr10 (IIwtxItin adv¥Kod1o• s¢hemo aro iniliolty rec(snised at trm#10n price unless the rMerrt con$bti a finang transxtion, kn the debt instrument is measured * Ihè present of futwe PayMts disClIted at a market r of intere8L
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 ACCOUPrnNG POLICIES {conllnued) A wovison 1$ rwnised in Ihe Balw Sha¢t ¥thIn tha Trust its tradww sththy ccrfnpary has a pre8ent18gal or cffislnKtive Cl3aOn as a result a past and It Is probable that an 0uil1c of ecommic VAII be rwired to setue the oblykn. Pmvislons. Wh uealed. are Rentals paYale under cwBting 18a588 ¥0 th8rged 85 exp a Str line b$ ovorthe pe0d oftr lease. Penslon funds Fulktime and part.lime teacn9 staff ttnployed urKler a ca)ntr8Ct of $te ¥e elfrgible to contribute to th8 T8achws' Pension Scheme ps}. The TPS. a stattrtuy. carth. fin81 salwy schemè is administered ty C¥ta Tea(th' on bIf of Ihe OeFwfvnt for Edtk. expressed as a per(xnlage ofsary ofa teathr entering sepKe. which would defray the cost of benefits payabte in resped of that Vanalions frt¥n the retylar pen8ion cost we met by a supplemenlary Conlrilx'0n. This OCCUTS rf, as a ret oflhe wxuarial 1Trrnsliga. it is fowKI Ihat the accumulated liat#'th"ties for tjenefits to past and wesent teachers are rrf)t fulty covwed ty nofftal cty)tributions to be p¥id in fits¢ SNI ty built LP frc#n contritr. The nomal and supplemenlary contr1trth are dwpj to the Statement of Financid ktiwties. The Trust crytribu105 to Grry4th Pkn staff. Priw to 2014. thi$ w48 in OCtCer 2013. it has béén a sdely dèfined ContriLOn sdwne. Thè Plan is a MliemoYer sd)ème and rl is not possi1e in cowse of events to itsty the share of the WKletying assets belorKJing to the irldual wticaOiThJ employers )rdY. In actdanC£ ilh FRS 102.18 accounted for as o defined conlribution scheme ¥th ¢triltiOnS being rec4xded 0$ bo¢ome payable. However, the Tnt 0 makes defiot payments to the sthrne ¥bJ. in accordarKe with FRS 102. ltrtte payments have measured at fair value and Irded in the balwKe Sheet as a liatiility. Tru8t in the year. Interest enj revaluation5 withwi the fn0¥ In the fair Ydue of the Penslon Stheme Llabllity are Included in finw)ce c£ts. Employee bono11ts Government grnni• Govemmwtt grants are rwnised * th8 falr Of asset recelved or recelvatrAe vklèn 18 reasonable assanCe that an1 c&bon$ be met WKI ts ants thlll be receNed. conditsons are mel. Vffiere a wanl thJes not speufy perfarKe condilions il is rewised in irrnme satisfied is recowised as a laL¥lty. 23
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEPAEKfs (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2021 CHARITABLE ACTMTIES a) S¢hod fees recelv8ble 20 2020 Gr¥ fees 13.3.822 (l,7,717} 11.696.981 (1.015.202) 12.329.105 10.681.759 Income Irom school lee8 rece6vth was £12.329.105 (2020: £10.681.759) ofwhich £12.329,105 w e8tritsJ {2020: £10,881.759). b) Andllary trad#YJ Incxyne 2020 Athity holiday School transFYt Sthool tJip Olhèr 23.985 153.511 20.127 131.449 723 177.762 152.299 IoMe from andllwy tradirg wa8 £177.762 {2020: £152.299} of 7thich £177.762 w88 unr88tr1cted (2020.. £152.2991. 20 2020 Registration fe88 52,100 47.425 879 48,304 Incomefrom (thwedw8t¥X £54.362 (2020.. £48,304) ofwhith £54.362 w•$ Unrests1 (2020.. £48,304). 24
LEIGHTON PARK TRUST NOTES TO THE CONSOUDATED FINANCIAL STATEPAENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 (40VERNMEKf GRAKrs 2020 124.880 42.765 353.960 Caronavirus BUeSS Interr( Loan Sdme grnnt 167.625 Income from governnt was £187.2512'. £353.950) £167.625 was veStr 12020: £353.960). The Tnjst full(X some of its stwrL wdfare and trading stsff thg gownmenfs CoronavrNs Job Retention Sch&ne {CJRS) wtmth compensates emthers for part of the wages. assocaabl nth.onal insLxance contritrAthrts INICs} aThl emknr pwbslon c¥th"bution8 ofemtyoyee8 Vfio have been placed on furlo (i.e placed on a teMPY leave crf &ence from wcffking for the employer). The gr8nt 18 coThJibonal uw) the emKloyees being w)F4oyed the Trust PAYE payroll and the empw (k> for their empknyer Ihat makes morw or provide8 semces for their employeror any ganIsaC lirtted or asscwiated Imlh tsir emthw. Thgre are no unfUffiId con&lions or c0nkngwieS attached to the grnnt. Tho fundirvJ received of £124.86012020'. £353.960) relates to aff costs in resFd of 70 slaff (2¢720'. 81 staffj Ththbch are induded wrthin Ite 6. The group reved a (Isueti¢JWry pnt of £42.765 (2020.. £) frc#n the govwnmenl as part of the cOnavIrS Business Intwruption Loan $Chne (CBILS). In the le5 ofts kxn the govemmgntwll pay the first 12 month8 ofinter88t diredy to the lermlw akMvJ the loan arrangement fee. We have recTrJised this assistanco as a uM)vemmert grant in the Statemwrt of Finan(ial Activittes. Further details are ije¢l in Th)te 15. INVESTMEirf INCQI 2rJ 2020 86.244 98.623 86.244 98.623 IrKofrOrn investmentswa5 £.244 (2. £96,623) (rfthith£3,188 Tffi¥ r8strthd12020". £4,028) and £83.OS8 was unrestricted (2020: £94,S951. 25
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 EXPENDITURE 2021 Total Ral8lng ndS Cmercial tradw Leightcm Park EntryiSe8 Sttwl Tndn9 (ajsts: Finanang costs Investment manage 20.(M)3 53.357 73.960 88.488 17.02 17.092 20.(X13 158.937 179.540 charItab •ctlvlllés Sthcd cperaliThJ co9. Tea¢fMrthJ ¢¢sts Welfare costs An¢illw trading o)8ts 4.912.275 256.584 202.877 157.424 413.893 837.357 338 2.024.735 1,589,418 5.529.045 1.251.365 336 3.388.480 2,726,599 999.018 952,926 Supwyt costs 184.255 7.12Q.803 )9.283 4.865.739 12.895.825 7.140.8 5.024.678 13.075.365
LEIGHTON PARK TRUST NOTES TO THE CONSOUDATED FINANCIAL STATEPAEKfs ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 EXPENDmiRE (conlknu•d) 2020 Total R•lslng funds Commerry81 tr&rvJ operation8.' Leighton Park Enterprises School finarriry costs: Finanang c¢7sts 57.756 64.449 122.805 fees 16.144 16,144 57.756 119.153 177,)9 Charltable acllvlll•s School opfjrabng ¢ts. Teaching costs Wetfare cost¥ An¢illary trathng costs Premises costs Sw)port costs 4.813,353 185.264 211.038 102.337 359.739 no.093 17.464 1.633,269 1.377.312 5.384.130 1.7.694 17.464 2,905,292 2,496,573 .310 898.992 365.713 220.289 6,803,919 899,357 4,107.877 11,811,153 Total expeThSture 6.861.e75 899.957 4.227.030 11.988.662 Expendllure on was £179.540 (2020: £1TI.509} of £179.540 vrns unrestricted P020: £177,509). Expewe on ¢aiitable tI¥ll1e3 £12,895.825 12020.. £11.811.153) of Twhith £11%.IA9 was restricted120.. £63,517) ald £12.789.756 &$1( {2020: £11.747.636). 27
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 STAFF COSTS 2020 Wages and salwles Social security c08ts Other pension costs Apprerrticeship levy 5.7C6.661 543,¥24 876.1C6 14,115 5.453.647 515.6(W) 880.165 12.283 7,140,806 6,861,675 The average rKxnber of pe{Y5 $ed Group KI ty tho Tntst the year Gvoup Tnt 2021 2021 Teaching Support 11X) 100 106 43 54 43 Ancillary trwjing 10 205 213 204 209 £80,0 In the year was as 0w5.. 2020 £80.001- £70.000 £90.001- £11JO,000 £140,(h)1- £150,000 Retirement tenefits of £131.94312(Y20: £101,620) are ae<niNJ to 7121Y20: 5) (rf th8se membern of staff under Ihe defined benefft Teach8r8' PeTrsion Scheme and of £16.426 P020'. £11.2671 to 2 (20.. 1) wbjer The Pwoions Tn No Tru¥tees12020.' 11) pd expws for travd arKI traniivJ. Travd eXF¢nses totslb8d (2020.. £1.559) aThl expwws reimt5ed for TnMtees' trainiThJ trAalbJ £1.012 12020.. £853}. In additi, a cost of £nil12020.' £489) were VKWTed in respect of an e¥tt marklrvJ the relirement of a Trustse. At 31 August 2021 was (fid to Trustee8 in fesirt ofexp8n8es12020: £nl). Key managemenl peIStteI as detailed in the Reference arKI Administration D*ails on page 2 re1ved w3grogate roMwlOn I[ng emplr FWs1 ¢[tributI1)n$ of £576,148 {2020.' £855.691). DurfTrJ the year L Park T made ThluThJwry Payments t(A8lllThJ £ril12020: £14.571). 28
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 SCHOOL FINANCING COSTS 2021 2020 64.147 517 23,824 17,092 17,777 2,672 18.111 16.144 Bad debt provi%on 105.580 54.704 oxpgndittTr 0)sts £105,580 (2020: £S4.704) of £105.580 was unrestricted 12020.. £54.704). Barl( chwy aThl interest indudes fees interest of £42,765 (2020: fy¥ll in relat lo the CBILS loan whkh covered by a goverN m <soe rw)tg 3). INC¢JMEIIEXPENDITURE Net Incomellexpendilwe)18 slated after tharyiN4: 20 2020 Auditols femuneralion . Stalulory au¢rrt of the fmncAal 818lexn . (Xher nctraLt seThices . Taxation ¢4mpkarte 17,480 5,670 725 17,570 5.154 909,883 246.590 899,957 258.679 Opwaling lea88 renlals TAXATION LghtOn Park Trust Is a charity WKI is entitled ffent y to the exempkn8 wowdad ty 29
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LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2021 11 INV&8TMEpif8 Group Fund t3gn•rnl Fund Total At 1 Septwnbor 2(r20 cash Les5 owyng cash 148.196 (13.397) 3.217.7 1140.727) 3.385.982 (154.124) At 1 Septanber 21r20 less Cash Additions Disposals Reval{10 134.799 16,859 (11.450) 1,577 3.077,059 3.936,W2 (3.660.660) 80,039 3,211,858 3,953,851 (3,872.110) 81,616 Listed on UK Stock Exdwy ry in 141.765 3.433,430 141.827 3,575,215 148.871 At 31 AUgt 2021 148,829 3.575.257 3,724,086 HIstC(%1 cost (Xd inve8ln onty) 134.107 3.314.866 3.478.973 Tnmt Fund Gww41 Fund Totsl At 1 September 2020 Ind1 cash LOSS ¢)wMng ca$h 148.196 (13.397) 3.217.786 (140.727) 3.365.982 (154.124) At 1 September 20201888 C88h Addrtlons Dlspogals Revaluatws 134.799 16.859 (11.450) 1.577 3.077,059 3.936,992 (3.660.660) 80.039 3.211.858 3.953.851 (3.672.110) 81.616 Listed on UK Stod( Exchaw or In Opa) Ended Investment in 8ub81di 141,785 3.433,430 10.000 141.827 3,575.215 10.000 148.871 7.044 At 31 Augu8t 2021 148.829 3.585.257 3.734.086 ontyl 134,107 3.344.868 3,478,973 The invostrnwts ¥è h'st¢d on the UK StrKk Ex• In Open Ended Fund$ except for a £10.(Th)0 {2020: £10,fXK)l inveSth in trxlirwj wbsi(Aary, Park EntWi8es LiThMted,' th represents 100% of its188ued 5h8re G81. Cash eWvent8 on derx)sit with a matwlty of less than monlhs at the year ernj we £152.258 12020: £151,734) and are Ind in temi InveStn I rKts 14). There cash deF418it$ with • malurlty of more than It*ee monts. at yew erKI. In elther tha rrnnt or comparallve
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 11 INVESTMENTS {conlknued) Ca8h atbankand In YK4udes cs8heWi1ts d8posftith a malLNIty of1$th mLYths The sthsldlary pro& lelsure ar recmbonal sthvices mairdy kn youNJ pwe and donates bts al taxable wofits to the Tnmt under Gift AKI. The Gift Aid donalion ftx Ihe year ended 31 Awt 2021 was £1.598 (2020.. £7,651} fts res forthe yearwere: Iver £75,55812020: £118.4321. cost of sales £41.627 12020: £5.040), c¥atIr expwwes £32.333 {2020'. £117,765). other operating income £n (2020: £11,985>. rrtWe5t r01¥able £2 (2020.. £39) net assets £11.036 (2020: £11.038>. 12 SUBSIDIARY Holdlng• of morn than 20% Thg TnBt Mds mcKe lh 20% oflhe share (4xlal kn Ihè cixnpary. Comp•ny Sharns held Subsldl•ry undertaklng LewJhton Park Entewtses Lknited Lghton Pth Scth. Shinfiekl Ro&J. R•adh Berkshire. RG2 7ED Indlroct Ordlnw 100 Compary No: 03156213 Prln¢lpal •¢fjvlty Leighlon Park EntelIeS Lvniied Provision of leiswe re¢reth wvi(*8 m8lnty to y(M 13 DEBTORS Gvoup Tru•t 2021 2021 Fees recelvable Amounts ¢)4bTd by dertsklngs Oiher detlors PpaYments and i1)Me 168.811 50.393 109.541 48.353 138,626 52.882 60,245 50,471 50.471 141.258 213,409 141258 213.409 .951 314.273 442.307 372.478 33
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 14 CURRENT ASSET114VESTMENTS Gvoup Trust 2021 C88h equNal8nts on W811 152,258 151,734 152258 151,734 16 CREDITORS: Anmwnts f•lllngs du• 4th1n on• y••r Group Tnrnt 2021 2020 2020 338,173 130.583 1.506.732 154.216 193.230 231.614 125.302 1.217.645 141.633 337.420 4.240 522.211 2.174.314 338.173 129.917 1,51,732 154,216 183,928 231,614 124,794 1,217,645 141,633 333,240 4,240 522,211 2,174,314 Taxation and 8(Ml sep Fee8 in advar Otsr cre(Itors Deferred Income Dep081ts repayat4e Advanced fee sch8m8 Bank108ns 429.505 2.262.515 337.5CK) 429,505 2,262,515 337,500 5,352.454 4,754,379 5.342.486 4.749.691 acmK year. Durlng the year the Tnt applkqd for rwxv&l a of £2,250.IYXI from ts Coronavirus Business InteUption Loan S¢heme IC8ILS). The current pothi ofthe lo is indthled above in bank loarts end th8 amount fallirKJ the in more one year is disckBed in note 16. The loan iurS interest at 2.09% abovg lh8 base interest rate and i8 rePaYae in instdments starting from month 13. December 2021. The Iw ill be rnpaid in full in No¥wthr 2026. ts 8w)Jed by a fed 8rKI IkJatirvJ chwge over the tr•Je nd assets ol the Trust.
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEAIENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 16 CREDtroRS: Amounts f8lllng •ft•r morn th•n one ymr amup Tru•t 2021 2020 2021 2020 Deposits repay Bank loans 1.070.143 1.912,5CIJ 1.115.488 1.070.143 1.912.500 1.115.486 2.982.643 1.115.486 2.982.643 1.115.486 Group Trn8t 2021 2020 AmoLts repay*le by instaments 112.5(X) 112.500 17 DEFERRED INCOME IINCLUDING FEES IN ADVANCE) Group Trnst 2020 2021 2020 At 1 September 2020 Released from prewou8 years Amounts defred in the ye 1.221,885 (1.221.885) l.X6.732 1.781,780 (1.781.7) 1.221.885 1.221.885 (1.221.885) 1.,732 1,786,110 11.766.110) 1,221,885 At 31 Auwst 2021 1.506.732 1.221.885 1..732 1.221.885 Deferred Iame is made w of funds recwved in ad¥m for Autumn twm tees in th8 2021r22 sthx>l
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEIAEKfs (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 18 PENSIONS Teacher8. hnslon S¢he The School wtitspatss in the Teadws. Pen&on sch fft TPS? for its teaching staff. The pen8lon charge for the year payable to ts TPS (rf £722,054 (2020.. £734,839) and at the year-ernl £82.155 {2020: £83.998) was acuwd in res Crfuthlxrtlo to this scheme. Pensions Regulati 2010 {8s anendedl •KI The Teache. Pension Scheme Regulations 2014 (as amended). Member8 Contr1trJt8 on a 'p2y &s you go" bas vAth ca)ntritMAions frn memb8rs 1 the employer being uedited lo the Excww. Retirer dher t>on•fits • paid ty wwi¢ furKIs The GovwnmentAcuary. using nomial acluarlal k¥1488. a formal acluarial review of TPS in accordance with the Publbc ServKe Nalualiws arKI Employer Cost Cap) Diro¢tion$ 2014 pU1$hed by HM Treasury every4 yews. Theam ofthe mitrwisto specifythe level Offutur8CntrIlxftIon3. ACtUal scheme valuations we on asSuM&kn$ 8LKKrt ts valug of costs. deslgn of berfits arKI m)y othtr laclor& The teSt vakAilon of Ihe TPS was carried a8 at 31 March 2016. The vduath)n rewt was wblth•J Educalion 5 Marth 2019. Th key elemgrtB of the ValUatic and sthwnt are: Total scheme liabilibes for seryice (Pe1( payablfr arnl th8 8Stimatsd cost of future berth) of£218 tinion notional inve¥lm¢nts hrt atthe valuation dai8) of É1 kn'lli Notional p8sI 8eMce defth d£22 tllicrf) DISCrt rate is 2.4% in exc5 of CPI As 8 re$t of the valuatim. nvw p1 rateg w¥e set at 23 88% (Induding a 0.08% admlnlstratlon levy) of peMon&le pay fn)m Sements 2019 orwards Icunp8red to 16.48% duriThJ 2018119}. The next ¥ualiL basod On d*a as * 31 M• 2ff20 15 wthway and ar)y rtWg0S to ¢thtribulions wll take effect In Awl 2024.
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 18 PENSIONS I14nUedl P•n•lon Trust Grryih Plan All 8upFthl staff are entitled to membetship of Ihe Pen&on Tntst Grth¥th llhe Plan,?. Tl¥s Is a multi- empfoyer penwon plan, respects isa purcha¥e arrangwwL though it (h)es indwjo ol pCfi payable from Mrnial retwement dates. Frrm October 21 cThtribulions re invesled in perwial fijnds which hove a ¢aMal guare •KI are c(rnrt to pons1( i)n rèlir6men(8ither within the Plan or by the wwthase ofan Urty. The Trusteo ¢ommiswons wxtLwial Val1 ofuw Pkn ovwy Ihree y¥r8. Tre pwxige aftheactuarlal valuati1 is lo detemiine the flthng posilv)n the Plan by comwirvj the as Wbth ts past serwce liatxlities as at the valualion d. Asset values we caknLgted by refererte to market lèvels. Attrued past serbryce liabilities we val1 by dixounting exF¢dgJ future ptyrnts ung a discount rat8 The rubs of ts Plan w4e Twstee the powv to requre p10yS to pay addi111 contsibutions in order to ensu that the 8tatsrtory fundiryd obiecve undw th8 P51( kt 2004 1$ met. Tho statulory funding oL4'ective Is Ihat • pension sthème should have suffic0w assets to meet its past seThryce h'atilrties. As ts last thrial ¥al10Th r8¥eed a deffiuL Trust¢0 agreed a re¢y)very to elinlnate the d6fidt A full acluaTi ¥aallOn of the scheme wied (#rt at 30 Septwnbw 2017. Tho markot value of the Plan assets at the vaualion dalewas £794.9 million Ihe Plan'8 TechnKal Provisions li.e. past Service liatiiibes) V•Ere £926.4 million. The ValtiOn Iheref(xe revealed a shfall of &88ets compared lth the value of liab4th'e8 of £131.5 m1?, ewNenl to a fuTrrvJ level of 86%. Leighton Pwk TTr1 paij at rate of 7% I(allIng £147.961 {2020.. £138.83017%)I during the accounting p8riod. contribUtitr totalling £22,31412020: £20,270) ww• uryid 81 tho year eTrJ and are induded 1n creditors. Members contn"butions There at the rale of 5% duriro the accounting period. Lwghkn Park Trust has alw paid deficrtcontsitths of£29,62312020.. £28.8311 during the period under revie4V. as reqLMred by the Trustees olthe Stheme and it is expethd that these V•ill continLW for the foreseeablè fvturo. As at the bal sheet date Ihere TAve 10212020: 91) active members of the Plan amOyed by LeWlon Park TnJsL Leigh Pwk T[$t cryJtinue5 to offer memberslmp of the Plan to tis ernOyeeS. acuued arKI at the year end the liabllty £107.150 {2020: £136.329). 37
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 19 MOVEAENT IN UNRESTRICTED FUNDS Group and other galn• 31 Augusl 2021 2020 General fvnd 14,250.726 12.W21.541 (12..206) 376.299 14.579.270 and other 31 August 2021 2020 14.249.6WJ 12.847.581 (12.895.336) 376299 14.578,234 The General FurM1 represents the retaned surpe$ that have acoJmLrfated over the years that the Trust has been operating. The Genwa FLVKI is to fund caprtal exp&ndthre arMI wovide V•DthiNJ caFknI. Unrnstrlct•d funds prfory•ar Group At1 Trnn•fvrn and othèr g•ln• At 31 Augu8t 2020 2019 Gen8f81 fund 14,993,651 11,472.491 (11,W.145) (290271) 14.250.728 Trust Trnn•f•r• and othèr galn8 31 August 2020 2019 Gra1 fund 14.W2.615 11.349. (l1.8.340) (290.2711 14.249.690 iknup and Tnmt At1 Transf•rs and othor 9aln8 At 31 August 2021 Scholarshlp pZe 299.930 1.157 301,087 The sdIarship 1ze is a erK1rym by pe1$51 ofthe Ch8rfty Commisslon. amalgamates a numbw of 811 Trust Th6 awe8d caixtal value of the fund at 31 Auw8t 2003 was £250.000. The inCne fr(Tn thisfwvj Of£3,1 (2. £4.028) 15 al(Kated k) T88tsi¢tod fimd> to pm¥ido $¢holarnhi and bursaries.
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEPAENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 20 IKJVEMEiif ON END(YIIMEKf FUNDS (conllnued EndoMMnt funds wlor yr Group and Tnt At1 Soptthnb•r 2019 Tfer4 and oth galns At 31 Augu8t 2020 IK¢)m• Exp•ndltsrn Scholar8hlp fvnd 299.469 299,930 21 MOVEMENT IN RESTIIICTED FUNDS Group and Tt At 31 August 2021 and oth•r galns 2020 From Endowment Fund- Scholarshlp and Proze fund Drugs avrdreness fund Bury fu1 Pavific 3.186 13.186) 5,150 901.587 5.150 905,911 80.890 36.415 (56.568) 137,415) 2,338 1.826 8.892 31,868 10.048 Musical in¥trumenl furrtl Head's dIscret"on fuTh1 Academlc departmwts Other fund8 10.302 30.899 10.048 (5.4101 (1.7261 (1.7661 2.695 1.766 .150 108.952 (lo6,) 966,033 Group and Tt Transfer8 and ¢)th•r galns At 31 August 2020 2019 Frcth Endovment Fund- Schdarnhlp and Pth fund Drugs awareness fvnd Bursary fv1 Pavil. Sth¢)ol H¢)use dmti Musical instrument Head's dfiscxetion fuThJ Academic do7)ts Other funds 4.028 (4.028) 5.150 881.075 5.150 J1.S87 1.000 2,338 1,826 10.302 30.899 10,048 71.828 (51.316) 14.8 31. 10.048 (4.6981 (3.4751 3.278 947.333 79,334 163,517) 963.150
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 FINANCIAL INSTRu11rs Group and Tnmt 2021 Carrylng amount of flnancl•l a•sets Instruments measured al fair value th1 wofft w k)8S 3,724.086 3.365.982 3,724,086 3.365.982 23 ANALYSIS OF NET Er5 BETWEEN FUNDS 20 fund• Total fvnds Tanglble fixed 888&8 Investment8 Net currert a8sat&l{fkMM) Lj tern) Ilat41ities Defined bwfit pension 8cheme Ility 16,429.528 3,575.257 (2,335,722) (2,982,643) 16,429,528 3.724,086 (1,217,431) (2,982,643} 148.829 152,258 986,033 {107.150) (107,150) TOTAL NET ASSETS At 31 Awst 21f21 14.579.270 301.087 966.033 15.846.3SM) ReBtrlct•d Totsl fund$ Twvible fixed a88ets Investments Net current asSeoiabl1th) LorvJ term liabilities 16.504.(X)3 3.217.7e (4.219.248) {1,115,486) 16.504.003 3.365.982 13.104.364) 11,11S.486) 148.196 151.734 983.150 liability {136,329) (136.3291 TOTAL NET ASSErs At 31 AUSt 2020 14.250.726 299.930 963.150 15.513.806
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINA14CIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 24 CASH FLOWS FROM OPERATING AcTInEs 2021 2020 Net Incom(expendI1wtij for the year D8wrtiation on tangible fad assets Realised Igain)1108s of investm Unre81ised {gain)noss on reVaIlan of invest 332.SB4 909,883 (295.840> (81,616) (29,179) 21.382 {3} (86.241) {726.64n 899,957 234.679 55,131 (25,671) 17.777 {2.3) (96.323) Interest paid irterest recoN¢d Investrnent 770.970 356.603 Ilncrea8eyde(xea8e kn detrt8 (48.678) 127,031 204.502 1316,874) 849.323 244.231 25 ANALYSIS OF CHANGES IN NEf FUNDS At31 August 2021 2020 Ca8h fity 1,489. 2,431,077 3,920,943 1.489,8e6 2,431,077 3,920,943 26 RELATED PARTY TRANSACTIONS tknng Its yoar Tnt entered into trans4th wlh Lwghkn Pk Eniwms Limited, a rolated party. in the ordinary cowse of business. ReCtt Te made by the Trust to LOh1on Pwk Enterprisè$ Limited for servitss amouthg to £15.784 (2020.. £64,098). The sub84dlary. P&* Enterprises Llmlted. Fwovths lse weatlona seNlce8 mainly lo y¢Mg pecyle and donates its arnual taxable wofits to ts Trust thyèr Gift Aid. The gth aid ¢knation fortr¥s year was £1,598 {2020'. £7.651). At the year WKI the balarKes from htOn Path EntOryYi$8s L¥iMted to the Tnmt Wgro £138.626 (2020.. £60245). Lknrwj thg yw 2 Tnthe5 {20. n() (kted £2.W20 (2tr. £niD lo the Trust. 41
LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEPAENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 27 FINANCIAL CCWMITMENTS minlmum Ie paYMts rWTrcWKe le88es fall dug a5 follows.. Group 20 2020 OFwalng thich explre: Ithin one year 169.381 117.183 215.989 227.839 286.544 443.828 20 Operab'ng leases Ththith e4ire.' thin one year 169.361 117,183 215,989 227.839 286,544 443,828 28 CAPITAL COIAIITMÉNY8 At the reportww dè. am(rtS (x)nYnitt&l to be rAid Imrt r#)t wovthj In the fjnandal st8lements nounted to £150.IXK) for thè w aThl thè Tn*l (2020.. £140.{)0). In res1 of ca1 expenditwe. 42