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 (Engl*KI 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 Ch*ity 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 {ap￿Inted Chwr of Board fr￿n 30 Octcthr 2020) (5) Lottle Dodwdl141 Phlllp Grlffin {C1) {3) Davld HIr￿0k {2> Bruce Johnson (4) (7} Martin Uoyd (21 (term erwjed 31 May 2￿21} Andrew HughesthNirKI {2) Lbza PNpp811) (C4) Appolntsd by Govemovs Eme DeaTrL￿rys {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 Mitch￿1 (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￿ C￿nITutio8 Finan￿ Gov Human Resouros Govwn Safeguarding Govemor Chair of C¢Mnmitlee ReSp￿STbrIllles of clher Goverrm OfLeIghtr￿ P•k Tn*t Can l)e I￿￿1 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 F￿bury Ri￿1 Re￿Ilry 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 s￿y4JU Insurnnco Bvok•v•: &ite G16 HP19 eDB LEIGHTON PARK TRUST GOVERNORS. AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 e$ent th￿r 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 L￿￿1 Parf( T￿￿t is regi¥ternd wilh Chaiity CoMn￿th. thrfty numbar 309144. It was iwora In 1920 as a compary limibj by guarantse arbj rh)t ha￿r￿j 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 AcTI￿TITE8 Charltable ObJ•¢ts Leighton Pa￿ SclMx4 at Read￿& m acurdarKe wilh tr* r￿1g￿LL4 of the Religious S(Kiety of Fr￿d8 (Quakers), ts Ihe ed￿tiOn of dwldren of rnernte￿ of the RelKJh)us Sodety of Friendg {Quakers aThJ olhers. Other broadtt educatKYAI obie(ts and t￿0 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 irK*rKlent. ( educat￿)nal, mixed day and boaryliry Second￿ scaKxl. C￿r the wurse of the year the Thmber of St￿lents was sl*e Imih a SCI￿[ roll of s￿ al thè end of the year. Leithton Park scho￿ is a twting C￿M￿n￿ *there. onty atojt 30% of the sclKol board, Ihg day students are fully inlegrated Ihe boarthryj ¢C￿m￿ty. 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 T￿t 18 gOve￿d ty bts Artides ofAsso(iakn daiThJ fr(*n 1920 last *nended In 2019. G0￿mIng 80ty The rnNnt>Br of G￿emOr8 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 Rocrnkn￿nI 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 qualrf*d. bè digibb for for 8 second temi of three yews. Nvhty appointed Govern￿ Satisfy Ihg Bowds tequyement with regard to 0￿gibl1￿. spw)* skills arKI lo(xl availablity. Nthy Govemors are irKI￿ted 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)venN￿Op. Inf￿M￿.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' COU￿11 (FSCI. tc*plher *ith othw •pprcfflaté CCAnes and Seminars organised by third parties. In add￿on, the GoVe￿K¥s IK4d 'AwayW Th*Kh UsL￿￿ w)clL*J8s a tralnl s¢ssiM ¢)n a current tqxc. year. The8e w0vi￿On8 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 L￿Ing co￿lttee, Pastoral arKI Safeguardirvj CommNtee. Busines8 Commllte8. E8tate8 Fac*tie8 Cunmittee and SLT Remur*rkni 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 requ￿d. The day4Trday runnir*J of tho schod 1$ delegat￿ to tho s¢nity 0ffi¢ors {H&*l. tho Deputy Heads, Bursar and Olrector of MarkelirKJ and A&ni￿On$). attend n￿etingS of the ab￿e (except Nomlnations Committee}. This grow 18 c￿$1(18[ed to be ts Tr￿￿5 kffy per8ml. a combination of bos¢ salary be￿ that a￿ set by to m•knt Nmi$. The cl￿Mittee ha8 access lo exlemal advice benchmathg data. Group •nd R•I￿on3h1PS The Trust h88 8 T￿t￿lty sthithary con4)any. L￿ht(￿ Park Enterprises Limited. T￿￿08e The schoc4 activety supp￿$ the attaknmenl of ligh stwvjards in the wmlepthl sCh￿IS sector throu netwo￿ing with ¢)thgr aTrJ participati￿ in the aLt¥ibe$ of awopriats asxKIati￿￿ to which tho school bdongs. Tr 8t*od al80 COOPW8t8S *ith 8 rKAnber ol local schods. charTlies and other organisations to oplimi5e the use of its fa￿lties. The xhod eni(iys ts supwt of an active pths. assodab'on and ofthe Old Lelthlcr4an8. ¥knose 8urv)rt 1$ ap￿￿ated and a¢kr￿￿ed￿. Local Communlty Unks beiry able to host the usual level of xtivit￿. ￿ corrtir•Je to devd4) li￿ meet the enty r￿u￿emaI￿ and are made after assessing parenta means either beth a St￿J￿rt icins xhwl crf to relieve hardship wthen an exl¥ting 8ludent'3 edlK9ti￿ ￿￿k1 be ai rtsk. exanple In Ihe case of parert81 rthmlarry. HO￿ver, Lelghtc Park Schcd18 81nx)st tc181￿ reliant on fees aTrJ in fundiTrJ its W￿d$ 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(rt*1 £453,057 (2￿20. £4(￿.1081. The sc*th offered •8sislance to 33 P020: 30> St￿nts 14 (2020: 15) studwts be[￿ from lyJr¥aries greater than 8￿. The value of moans te¥ted bwsorie¥ aFvoa¢hed thè W&pan￿1¢ 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. st￿ents may be w￿ded more lh￿ scWatsi¥p I￿t V•ill cfftly re¢erve the financial beneffts of *thich is a maximum of25% ofthè day SI￿lent fee. This year the value of schdarslmps was £118,990 (2020.. £120,60n. The scknl Offe￿ i*sc(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>J*dwvJ ¥clknJ In 8rilaln. Lwton P8th'6 central purpose 18 to fomi paople ofreal C*￿ter. 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 acaJ*nic p8Stty4 SUPK*yL wr hdisti¢ apwoxh to leaming. Ow ryiir*M)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 st*ylor FWiC*ts 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 $ustsin•bilty moasuros. to ￿leY¢ ¢harrtable 014eGts. The Govemor8 h8¥e regwned regLlar Board and Commlttee m¢etlNJ8wlth Acad•mlc Ldghton Park's 8uccess 81 Kay Sxage 5 h88 rwmsed by Ihe gove￿￿81039u0 t￿8$ 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 r￿A)r(led an impresslve 72% A"IA rate arml 93% A"￿. High scorirKJ 84*ds Hickn1ed Maths (72% A'IA). F￿r Maths188% A'IAI. Phywcs193% A"IB) Art180% A"IA). Digilal Mu* Productw Le￿ 3 BTEC. •*le￿I lo￿4 D￿￿1￿11￿. In CTEC Swt. Lwghton Park st￿jentS avw of 35.S (thg hifvl in tho Ixsttyy) again6t a rthdV￿de average of 33.0 points. The 8chool's GCSE re8ulls also very pleasiTrJ with the 82 stutsm co7￿ aCh￿Ing 29.5% al grades &9 equivalent vAth 13.8% at grade 9. STEAM IsoerKe, ervJKwir¥J, •ts and maths) subpcts p&fmed vwy t*llh 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 EthK*irm 2020 la8t summar Year 9 STEAM 8bJdent8 receNed their Bronze CREST this SU￿￿1 - a naticmally recogni￿ scthgme from the British &ience Association that inwres ywng pe(We to think aTrJ behave l*e ￿￿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 iTh*vKlual •vards. GCSE Dance stutknts shcA¥cased thw'r lalw)ts in the IS4 Nationd Oartt coM￿￿tr￿. 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 Sc1￿xI dosure& LEIGHTON PARK TRUST GOVERNORS, AND TRUSTEES, REPORT (COPrnNUED) FOR THE YEAR ENDED 31 AUGUST 2021 Co-currlcular Leightcm Pwk 15 0 vily￿t c(ThmLnty ar*J ttls 15 reknled of o¢tsvitws urmI￿ken by students. both at home aThd abroad. M￿Y of the aclivikn, alttwh sUpP￿d by the teaching Staff, arg driven in 8om& ￿SeS inibated by tt18 Stud8rts themselves. tt 1$ this levd of creativity. Init￿Ve and 80cial reSpOn￿bIlIty. c¢Thmbirnd V•ith the of i￿Perth￿ 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 co￿￿￿lcUlSr prow*Thne Or￿1￿898$ students to ty new things. thscover talent and go beY￿j their (r￿ expetstiLw. Regular activ￿8$ such as dan¢e dub, book dub arwj took pla¢• (okn (M￿10￿ 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 s￿￿￿1ed yourw studthtts. PSHE sessions have explored Issu8s of r8silience and Well￿1ng. In line with ttms yearfs naknre theme. students have eryoyed eC￿09Y 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¥w￿ty 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 St￿J￿ts. ￿enesS of envlrcmental Essues and to glve them the opport￿lty to make pogtiNp charwJgs to ￿tsInabthty. Tr Fryw Eco C￿b has instslled Soven rocyding wnts arouThJ tr* Pafk to eokecl rewth crisp packels. Sixth Fom) students attended a Climgte Criss Vbtyksly at the Univer*ty ofoxford's School ofGeography and thè Erwironment. This In¥olv6I 8natysing tsMse¢ww￿s of dimate Werrtial pcAicy reSpor￿S. Our Imldlrfe and Vkllb8ing Garden desww ¢Wit￿n 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 gro￿18. We de1￿hled to be wmcrtjnced as ISA School of the Year for OLrtstanding Community Invdvement in 2020 arvj selected as 8 finakst fr￿the 2021 t￿rds. Leighton Park 8UFVryted a r*KJ• of hxa tt*itie8 thrltvj 2￿21. In uAlthration With the ￿hrtleY Community DevelL¥*ment Assoo81ion. th8 Schc(4 er￿Uraged families to suppyt fdlw familw in the I￿81 crynmunty wth Christmas gift boxes uiven to those most in need. Olher tharities benefitting from various SclKhJ fun 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 Ind￿led In 81vJrt te￿n inveslments. In roSp0￿ to the c(x(YthirL&% p¥hjwn￿. th8 CIK(xow lthrnwtion Loan £2.25m laFplied for in 2020)was du*m 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 rKrtavallablef￿th6general purFoses ofthe Ch￿ty. £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$8ts ftythg Tfusfs use. and ￿nctiOn￿ fixed assets fijr thg T￿1￿8 U8e. There no free re8erye5 for Ihe woup at the yew. *nd. The Trustees. alm is to Md fuTrJ8 we suffidert Ixrt Mt exces*4e in older to fund operalional requirements and futwe developmwrt. Tr Tr￿lee8, pdicy 1$ 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 monll0rvn￿NJ to￿￿￿0the 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 re81188￿6 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 Tn*t 1$ 0Wati￿ of P•* Sthool. It 1$ th8 Intonlknn of the Trustees that all the norynal experws of T￿nirvj ￿ sc*KX)I, I￿1￿*r¥d the Cost f* sctrK4arsl¥p5 and bursaries granted. St￿ld bè met frtyn fees paid in resp&# of stud*ts 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 d9velopm￿l Tlw are rn)t int￿￿ to sub%di8e opwatiLThl costs, forwhich any short. twm ￿fic￿c46$ are met thrO￿ah 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 d8sig*d to knll, maim or destroy. ￿P8rde5 Ihat supply stsrKlwd Corr￿￿ts. comnbJ*bes 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 com￿185 wThwily in (rf rnling that is a matter of parbwlw to '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 $¢¢(￿d0￿￿ with Urited G￿￿Tally Acc4Pted Acwjnti Practice" and Bas1¥ for oplnlon We condLKled ow a￿lit n occud￿ *ith Ir*arna￿ knjwds on A￿lI{￿j (UK) {IS48 (UKI) applicable law. Our responsibiliti88 under those Starthth we fulher de5c￿d in the Auditorfs ye8Fon￿blliI1e$ forthe athjitofthefinancial state￿￿18 s8c*on ofowreport. Vk are ir￿eper￿nI ofthè group and parent chaiilat4e company in ￿ance with th8 ethical r￿￿rem￿ thai are relevant to our audit of the financial Ststem￿lS inthe UK. m)d￿ling the FRC'S EtricA Standwd arLl*e havefijffilled ￿0th￿•thi¢81 resp¢￿￿￿11￿.es in aCCord￿￿e wilh these reQ￿r￿ents. believe th* the •Jtht eV1dw￿ we have obtslned 18 sufficlent and q)propriate to W0￿de a ba818 for our 0ptrth￿. ConclU￿On• 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 Cond￿On$ that. indmdually or collttli￿y. 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 res￿10 goYKJ c¥xwn arn dewib*J In thg rdevant ¥¢¢tim5 of r¢r*rt The othér Infomiatkn ¢omww the infc*mth in AnNMI Rep*yt other than ts firrancial ststements and ow wJditc¢s reF*Ji thereon. The tnLslees are responsible otrw InfO￿atIOn 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 Infyt indud8d *itr4n the T￿￿?$, rep(Kl to you W. in our cynKM: adeq￿le acc(yJntiThJ rncriate audit ewdence regarding Ihe 8ssesswJ risks of material nw5state￿ due to frwd dgsigniry im*m*)lirKJ arrfxoprlate responses and to resporKI appropriatety to fra￿j LY syected fvaLKI identifKd (knNJ Htywever. it i$the wmary responslknhty with Ihetr4er8lWofth08echarged ￿1th wvernance. to en5wethat the entity'$ operation$ a￿ condl￿ in acc￿1￿Ce¥l1th the provtsions cllaws wulation8 0rbJ forth8 Preventi￿ *KI offraud. 15 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LEIGHTON PARK TRUST (CONTINUED) In idenwng aThJ avJe88ing ri8k8 of m*erbal rrdS*9￿ 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 tr*18gal arKI regulatw assessment of the risks of irT&Julwities, itb*dirvJ any krKYAn actu81, S￿1P8¢t8￿ OT allgged instsnces induthrvJ assessment of h(waThJ s1*erT￿ts may b8 susceptiila to fraud. ImpaL* on ts fin8rKial Stat￿n￿ we FRS 102, Ch8ritr8s SORP (FRS 1021. Com￿105 Act 2￿j6. Charities Act 2011. the pwent charilable compan￿5 go¥￿Ing charit￿ {Pn)tecbon and Sodal Investment) Act2016. Wo a￿Jit to dgtectrwxpcomplianceswhich may have a material impact on thg financial st*ements ¥knich ￿althd the finan￿4 statern￿ induding Th'rector8' Rewt and remoining o1erttonew0runu*￿ trwmactionsvrtwch may in acoxdarttwrih the &4wemlng Thg m¢)st wgnThlcant law5 a￿1 r￿latIc￿S that have an inthrect impact ￿ the finanud statements are Tho Education IlrKlepetht School Slandards} Reg￿11￿ 2014. Keeky'ng child￿ Safe in Educatfion ￿der seclion 175 of the Ed￿ation Act 2002. aThl the UK General t)ata Proteclion Rey￿atiOn (UK GOPR). V¥e perfornied autht ￿￿edureS to Inqulre of cwed thllh govemanee ￿tsther the charitat4e company 18 in tArylh th￿18￿•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 M￿u81 ioumal entriè5 and cthpr adjustments, evaluoting the buslness rationale In relalon toary 819nlknn( uMtsuaItr8rtsttli￿ errtwed into outside the nomial course of bU￿r*S8. AfurtherdescrWon of ¢yx respcffl8lt4lllle8forth8aud6t of thèfmandal Statem￿ts is prtyid&O (mthe Fnondal Repth1ing Coundl's We￿te at htlp".Ilwmw.frc.cry.￿J4￿1rt01$r0$ponsIbIItrs. Thi5 d88aiPtion frxms part of our audllorf8 reixxt. 1180 of Our r•port Thls report is made Soldy to the parent c*Afftth compary's Memb￿8. 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$ re￿rt 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 Ch￿b￿ cL¥npanYs membws as a Ixmty. for ￿ wlil th. thi$ the opiN(m wg I￿8 ftjrmed. Kerry Galla￿ar (Senior Slatthry A￿j11￿> For and on behawol RSM UK LLP. A David8cK) H￿se. 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 Otr*r trading activities: Commercial trading 75,558 19,380 75,556 19,360 118.432 9.617 01￿￿ In￿me 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 I￿￿8.. Commercaal tr*lng 73,960 105.580 122.805 54.704 Sthool ffina￿1ng 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•w*lllL*8e8) 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 $13806 The stateM￿t of finandal ￿11¥11￿$ 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 irKorpy*d charity {rngislwed number 00171900 and charity number 309144) is a wvate limrted by guarantee aThJ incap￿ated 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)n￿Sts of LeIght1￿ Pwk Tnffjt •vJ Pwk Entwpri586 Limled. The Trust and its subwdiory trading adjth nath of tlk Trust arKI ils trading ¢c*npwVs op&a￿on$ we disdosed in the Govemorn, ￿ Trustees, ReporL 8osl8 of accountlng R¢commerKbJ Proc*¢e {•pplicat4e to tharit*8 tryHrrwJ thdr ￿￿Ounts in accordarth the FIna￿la1 Rewtsng Sland¥d applicablg in ￿ UK wvj of Ireland (FRS 1021) lissugd in Octot*r 20191- {Charibes SORP {FRS 102)>. Ihe FIn8￿JaI Rep￿1￿0 Standwd applkabbe in ￿ UK Rq)ublic of Irel￿ (FRS 1￿2) the ComwM85 Act 21￿. Leighton Park Trust is a public be￿fft enbty wKl¥ FRS 1W2 h•$ ljweftyo 8ppli8d the rèlevant p￿IlIC 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 I￿ad to newest vlholg £1, except where ¢the￿ISe indic*8d. requirements (rf Sec11￿ 7'Slatemert ofcash FIryw5' from of Staiemont The finan¢l81 st*m•)ts h￿e been ryep8￿d LY#Jwth8 h18t￿ICal o38tcrKwerllon. modlfiedto Sndude the revaluation olcertaiD fin￿?1 instrLwngnts at fair value. The principa accounting policies adcpt¢d ¥8 set c*rt b81rM. Group IIMnd•l •iatsm•nts The finarKid *atements cLv*olI￿ results oftt* Trnst its ¢y*r￿d subsidlary Lelghton P*k Enterprfi$e8 Llrrited. A sepwale StateM￿t of Finc¥al AcAivilM Ir￿orne and Expenditure Accourrt is not presented for ￿ Tnmt it8df in *£ordaThx with ts eXerylIry￿ affonled ty ￿(*¢n 408 oftr* C(*npanl88 Ad 2￿￿. Golng concern The Trust madg a Su￿u5 fty the yew of £332,584 (21720: def￿1 of £726,647) •KI r￿t a8Sots at the Y￿ end CA £15.846.39012020.' £15,513.acoi. a5 a resum ofthe ongowvJ Cty4Kk19 F4rthmi In Juty 21Y20 the entered into a f8olty agreement for a C81LS term loan of £2.25m ¥itth PLC Ihal was drawn 0￿8mber 2020. The forecasts demonstrate that ts Trusi 18 expeG*ed to g￿ate 8 surplus and cash In year endlrwJ 31 August 2022 8fKI that the T[L￿t ha8 cash resw¥e5 WKI lo￿ facilibes to meet Its obligations as they fall dug for a p￿j of at least 12 months fr<>m the date of swing these financial ststeM￿)ts. As suth. the Trustees have a reasonable exp8cl*ionthat theT￿￿t has adequat8 resour￿ tocontinue eparing these finan(aal state￿nts. LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 AGCOUNTING POUCIES (C¢Mrtln￿1j Bas18 of ￿n8011d•uon The con801idated finarKaal statements incwrate those of L￿ght(￿ Parf( Trust and it$￿￿￿￿11Y subsidiary (i.e. an erty Ihat the c(xtrds through its to govem the finarrial and operating x) &5 to oL*ain eco1¥y￿ benefits). All fina￿81 Statemerts we made up to 31 Awt 2021. V¥twe ne¢eswy. We made by the Trust AM Intra-groLV tran8adlons, balms and un￿1$ed on Irwwcai¢)ns bets￿en lh8 Tw¥1 and its subsbth8ry are eliminated on consolidalion. Unrealised losse8 f*e also eliminated un1885 the lth¢om• Scho)I fees recelvth and wKilay trathng incL¥ne are accO￿ted ts in the perK¥J in the swvi¢e 1$ 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 r￿01¥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 notifi￿On has been recelv& oflhe di¥ideThJ due. This is uprx) by investrnrt a(fviterofth8 dmdend y￿d of Ihe irbveslJnent pothlio. Expondlture l expe￿￿t￿re i$d1re*accwntodfor￿ basi5arxl b8on da$s￿*d 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 I￿￿ed 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 re￿pt and entiuement and *l¢xated to ar4)ropriate fund. Fund accountlng Thg Trust contains lh8 foltr*iry fvnd5:. a) Genera 0f(4w￿l￿J retw*d surplu8es •¥J areto be ￿fjd trJ fvnd ca￿1 cl Restricted Funds are io be uged h) •xord¥tt vAh restricaion rAa￿d 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 t￿O810n lor Impolmlent. The acqui81tion of it￿$ wilh a va*Je exceeding £10.1)00 we c•ali8ed WKI add8d to the tarvjiblo a58*s. DepreCia￿n is prO￿ded on fixed assets to wite off the dIffere￿e bet*wn tsir cost ￿ re8KkJal Value over their estimated usefij economK1rfo ￿ a straw line basi6 as folhy•ts: Free￿Id ￿lI￿ng3 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 oll*r threcty aUrilxrtabl8 costs that we Mcessary to ￿1r￿j the propety InveStrne￿ are stated 81 mwket vath. Realised 8￿j 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 Impai￿ent losses reversals of Impaim)ent108ses are reco9nised immedwtdy in the Statemert of Fina￿la1 Acli¥ities. C•8h and c•8h equlv•lènts Cash 8nd cash equivalents Ind￿ cash in hw*J. dew8it8 I￿￿j at cal b8rl(s aThJ olher short. A¢c•pt•nc• d•poslt• Acceptance dep)wts arg p•d to ts x*My)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. De￿its 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 InStr￿￿ts Issu85' of FRS 102 to au of its financial instrumwts. B•$i¢ finanaal assets, wlith irtlLKle trade aThl otrw d¢btcrt. am¢xA)ts trAed by wp undert8kJngs end cash and balance8. are initialty measurnd at tran8actKffl wice I￿l￿n9 trw88dion costs and are subsew*rtty carried 8t wn(ttt¥ed c05t ￿1r￿j ts effeGt¥e inlere8t method unless the arrangement consblule8 a finanang tran￿alOn. v**8re th8 finarKial asset is measured at the present value ofthè ful￿• rnceipt8 dip41￿nted ai a m*kèt Ate of Mrtern8t. Baw¢ fm¥rKial liatAths. irN*#Sng tr*10 (IIwtx￿Itin adv¥Kod1o• s¢hemo aro iniliolty rec(snised at tr￿m#10n price unless the ￿r￿Merrt con$bti￿ a fina￿ng transxtion, kn the debt instrument is measured * Ihè present of futwe PayM￿ts disC￿lIted 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 ¥thI￿n tha Trust its tradww sthth*y ccrfnpary has a pre8ent18gal or cffislnKtive C￿l￿3a￿On 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 paYal￿e under cwBting 18a588 ¥0 th8rged 85 ￿ exp￿ a Str￿ line b*$ ovorthe pe￿0d oftr* lease. Penslon funds Fulktime and part.lime teac*￿n9 staff ttnployed urKler a ca)ntr8Ct of $￿te ¥e elfrgible to contribute to th8 T8achws' Pension Scheme ￿ps}. The TPS. a stattrtuy. carth￿. fin81 salwy schemè is administered ty C¥*ta Tea(th' on b*￿If of Ihe OeFwfvnt for Ed￿￿tk￿. expressed as a per(xnlage ofs*ary ofa teathr entering sepKe. which would defray the cost of benefits payabte in resped of that Vanalions frt¥n the retylar pen8ion cost we met by a supplemenlary Conlrilx￿'0n. This OCCUTS rf, as a re￿t oflhe wxuarial 1Trrnsliga￿￿. it is fowKI Ihat the accumulated liat#'th"ties for tjenefits to past and wesent teachers are rrf)t fulty covwed ty nofftal cty)tributions to be p¥id in fits¢ SNI ty built LP frc#n contritr￿. The nomal and supplemenlary contr1trth￿￿ are dwpj to the Statement of Financid ktiwties. The Trust crytribu105 to Grry4th Pkn staff. Priw to 2014. thi$ w48 in OCtC￿er 2013. it has béén a sdely dèfined ContriL￿￿On sdwne. Thè Plan is a M￿li￿em￿oYer sd)ème and rl is not possi1￿e in cowse of events to i￿tsty the share of the WKletying assets belorKJing to the ir￿l￿dual wticaOiThJ employers ￿*￿)rd￿￿Y. In act￿danC£ *ilh FRS 102.18 accounted for as o defined conlribution scheme ¥￿th ¢￿tril￿tiOnS being rec4xded 0$ bo¢ome payable. However, the Tn￿t *0 makes defiot payments to the sthrne ¥bJ. in accordarKe with FRS 102. ltrtte payments have measured at fair value and Ir￿￿ded 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 ass￿anCe that ￿an1 c￿&bon$ be met WKI ts ￿ants thlll be receNed. conditsons are mel. V*ffiere a wanl thJes not speufy perf￿arKe 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 transF*Yt Sthool tJip Olhèr 23.985 153.511 20.127 131.449 723 177.762 152.299 I￿oMe from andllwy tradirg wa8 £177.762 {2020: £152.299} of 7*thich £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 BU￿￿eSS Interr￿￿(￿ Loan Sd*me grnnt 167.625 Income from govern￿nt ￿ 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 V*fio 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 ￿ganIsa￿C￿ lirtted or asscwiated Imlh tsir emthw. Thgre are no unfUffiI￿d con&lions or c0nkngw￿ieS attached to the grnnt. Tho fundirvJ received of £124.86012020'. £353.960) relates to ￿aff costs in resF*d of 70 slaff (2¢720'. 81 staffj Ththbch are induded wrthin I￿te 6. The group re￿ved a (Isueti¢JWry pnt of £42.765 (2020.. £￿) frc#n the govwnmenl as part of the cO￿navIr￿S Business Intwruption Loan $Ch￿ne (CBILS). In the le￿5 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 i￿￿￿je¢l in Th)te 15. INVESTMEirf INCQI 2rJ 2020 86.244 98.623 86.244 98.623 IrKo￿frOrn investmentswa5 £￿.244 (2￿. £96,623) (rf*thith£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 C￿￿mercial tradw Leightcm Park EntryiSe8 Sttwl T￿ndn9 (ajsts: Finanang costs Investment manage 20.(M)3 53.357 73.960 88.488 17.0￿2 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). Expe￿we on ¢*aiitable ￿tI¥ll1e3 £12,895.825 12020.. £11.811.153) of Twhith £11%.IA9 was restricted12￿0.. £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 Tn*t 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. rrtWe5t r￿01¥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 L*ghton Pth Sc*th. Shinfiekl Ro&J. R•adh Berkshire. RG2 7ED Indlroct Ordlnw 100 Compary No: 03156213 Prln¢lpal •¢fjvlty Leighlon Park Ente￿￿lIeS 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 P￿paYments and i￿1)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 ac*mK year. Durlng the year the Tn*t applkqd for rwxv&l a of £2,250.IYXI from ts Coronavirus Business Inte￿Uption 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 i￿urS interest at 2.09% abovg lh8 base interest rate and i8 rePaYa￿e in instdments starting from month 13. December 2021. The Iw* ill be rnpaid in full in No¥wthr 2026. ts 8w)Jed by a f￿ed 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 AmoL￿ts 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 def￿red 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 I￿ame 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 Contr1tr￿Jt8 on a 'p2y &s you go" bas￿ vAth ca)ntritMAions fr￿n memb8rs ￿￿1 the employer being uedited lo the Excww. Retir￿er￿ dher t>on•fits *• paid ty wwi¢ furKIs The GovwnmentAc*uary. using nomial acluarlal k¥1￿4￿88. a formal acluarial review of ￿ TPS in accordance with the Publbc ServKe Nalualiws arKI Employer Cost Cap) Diro¢tion$ 2014 pU￿1$hed by HM Treasury every4 yews. Theam ofthe mitrwisto specifythe level Offutur8C￿ntrIlxftIon3. ACtU￿al scheme valuations we on asSuM&kn￿$ 8LKKrt ts valug of costs. deslgn of ber*fits 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 (Pe￿1(￿ payablfr arnl th8 8Stimatsd cost of future berth) of£218 tinion notional inve¥lm¢nts h￿rt atthe valuation dai8) of É1* kn'lli Notional p8sI 8eMce defth d£22 tllicrf) DISC￿rt rate is 2.4% in exc￿5 of CPI As 8 re$￿t of the valuatim. nvw ￿￿p1￿ rateg w¥e set at 23 88% (Induding a 0.08% admlnlstratlon levy) of peMon&le pay fn)m Sements 2019 orwards Icunp8red to 16.48% duriThJ 2018119}. The next ¥*ualiL￿ basod On d*a as * 31 M￿• 2ff20 15 wthway and ar)y rtWg0S to ¢thtribulions wll take effect In Awl 2024. LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 18 PENSIONS I￿￿14nUedl P•n•lon Trust Grry*ih Plan All 8upFthl staff are entitled to membetship of Ihe Pen&on Tntst Grth¥th llhe Plan,?. Tl¥s Is a multi- empfoyer penwon plan, respects isa purcha¥e arrangwwL *though it (h)es indwjo ol p￿Cfi payable from Mrnial retwement dates. Frrm October 2￿1 cThtribulions ￿re invesled in perwial fijnds which hove a ¢aMal guar*e •KI are c(rnrt￿ to pons1(￿ i)n rèlir6men(8ither within the Plan or by the wwthase ofan ￿Urty. The Trusteo ¢ommiswons wxtLwial Val￿1￿ ofuw Pkn ovwy Ihree y¥r8. Tre pwxige aftheactuarlal valuati1￿ is lo detemiine the fl￿thng posilv)n ￿ the Plan by comwirvj the as￿ Wbth ts past serwce liatxlities as at the valualion d*. Asset values we caknLgted by refererte to market lèvels. Attrued past serbryce liabilities we val￿1 by dixounting exF¢dgJ future ptyrn￿ts u*ng a discount rat8 The rubs of ts Plan w4e ￿ Twstee the powv to requre ￿p10y￿S to pay addi11￿1 contsibutions in order to ensu￿ that the 8tatsrtory fundiryd obiec*ve undw th8 P￿51(￿ kt 2004 1$ 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 ¥al￿10Th r8¥e*ed a deffiuL ￿ Trust¢0 agreed a re¢y)very to elinlnate the d6fidt A full acluaTi* ¥a￿allOn 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 Val￿tiOn Iheref(xe revealed a sh￿fall of &88ets compared *lth the value of liab4th'e8 of £131.5 m￿1￿?￿, ewN*enl to a fuTr*rvJ level of 86%. Leighton Pwk TTr￿1 paij at rate of 7% I(￿allIng £147.961 {2020.. £138.83017%)I during the accounting p8riod. contribUtitr￿ totalling £22,31412020: £20,270) ww• ury￿id 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 am￿Oyed by LeWlon Park TnJsL Leigh￿ Pwk T[￿$t cryJtinue5 to offer memberslmp of the Plan to tis ern￿OyeeS. acuued arKI at the year end the liabllty £107.150 {2020: £136.329). 37 LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 19 MOVEAENT IN UNRESTRICTED FUNDS Group and other galn• 31 Augusl 2021 2020 General fvnd 14,250.726 12.W21.541 (12.￿.206) 376.299 14.579.270 and other 31 August 2021 2020 14.249.6WJ 12.847.581 (12.895.336) 376299 14.578,234 The General FurM1 represents the retaned surp￿e$ 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 G￿￿ra1 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 p￿Ze 299.930 1.157 301,087 The sdI￿arship ￿1ze is a erK1rym￿ by pe￿1$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 inC￿ne fr(Tn thisfwvj Of£3,1￿ (2￿. £4.028) 15 al(Kated k) T88tsi¢tod fimd> to pm¥ido $¢holarnhi￿ and bursaries. LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEPAENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 20 IKJVEMEiif ON END(YIIMEKf FUNDS (conllnued EndoMMnt funds wlor y￿r Group and Tn￿t At1 Soptthnb•r 2019 T￿￿fer4 and oth galns At 31 Augu8t 2020 IK¢)m• Exp•ndltsrn Scholar8hlp fvnd 299.469 299,930 21 MOVEMENT IN RESTIIICTED FUNDS Group and T￿￿t At 31 August 2021 and oth•r galns 2020 From Endowment Fund- Scholarshlp and Proze fund Drugs avrdreness fund Bu￿ry fu￿1 Pavific 3.186 13.186) 5,150 901.587 5.150 905,911 80.890 36.415 (56.568) 137,415) 2,338 1.826 8.892 31,868 10.048 Musical in¥trumenl furrtl Head's dIscret"on￿ fuTh1 Academlc departmwts Other fund8 10.302 30.899 10.048 (5.4101 (1.7261 (1.7661 2.695 1.766 .150 108.952 (lo6,￿) 966,033 Group and T￿￿t Transfer8 and ¢)th•r galns At 31 August 2020 2019 Frcth Endovment Fund- Schdarnhlp and Pth fund Drugs awareness fvnd Bursary fv￿1 Pavil. Sth¢)ol H¢)use dmti Musical instrument Head's dfiscxetion￿ fuThJ Academic do￿￿7￿)ts Other funds 4.028 (4.028) 5.150 881.075 5.150 J1.S87 1.000 2,338 1,826 10.302 30.899 10,048 71.828 (51.316) 14.8 31. 10.048 (4.6981 (3.4751 3.278 947.333 79,334 163,517) 963.150 LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 FINANCIAL INSTRu1￿1￿rs Group and Tnmt 2021 Carrylng amount of flnancl•l a•sets Instruments measured al fair value th1￿ wofft w k)8S 3,724.086 3.365.982 3,724,086 3.365.982 23 ANALYSIS OF NET ￿￿Er5 BETWEEN FUNDS 20 fund• Total fvnds Tanglble fixed 888&8 Investment8 Net currert a8sat&l{fk*MM) L￿￿j tern) Ilat41ities Defined bw*fit pension 8cheme I￿￿lity 16,429.528 3,575.257 (2,335,722) (2,982,643) 16,429,528 3.724,086 (1,217,431) (2,982,643} 148.829 152,258 986,033 {107.150) (107,150) TOTAL NET ASSETS At 31 Awst 21f21 14.579.270 301.087 966.033 15.846.3SM) ReBtrlct•d Totsl fund$ Twvible fixed a88ets Investments Net current asSe￿oiabl1th) 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 A￿USt 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 AcTI￿nEs 2021 2020 Net Incom￿(expendI1wtij for the year D8wrtiation on tangible f￿ad assets Realised Igain)1108s of investm Unre81ised {gain)noss on reVaI￿lan 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 detrt￿8 (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 ￿ Tn*t entered into trans4th￿ wlh Lwghkn P*k Eniwms Limited, a rolated party. in the ordinary cowse of business. ReCtt￿ ￿Te made by the Trust to LO￿h1on Pwk Enterprisè$ Limited for servitss amouthg to £15.784 (2020.. £64,098). The sub84dlary. P&* Enterprises Llmlted. Fwovths ￿ls￿e 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 {2￿0. n(￿) (k￿￿ted £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 I￿e paYM￿ts rWTrcWK￿e 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 d*è. 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 res￿1 of ca￿1 expenditwe. 42