2022-08-31-accounts

Wells Cathedral School Limited (limited by guarantee) Independent auditor's report Year ended 31 August 22

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

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

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be with the completeness and accuracy of, non-fee income, bursaries, scholarships and allowances, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, the bursar and the Audit and Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, designing audit procedures over non-fe income and fe concessions above, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, Ofsted and reading minutes of meetings of those charged with governance.

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

A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

GuyBiggin Senior Statutory Auditor

For and on behalf of Crowe U.K. LLP Statutory Auditor 4 th Floor, St James House St James Square Cheltenham Gloucestershire GL503PR

Date: 12 December 2022

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WellsCathedralSchoolLimited	WellsCathedralSchoolLimited	(limitedbyguarantee)	(limitedbyguarantee)	(limitedbyguarantee)
	ConsolidatedStatement	ofFinancial		Activities
	Year	ended	31August2022
FeesReceivable
	2022		2021
	£000		£000
Feesreceivableconsistof:
Tuitionandboardingfees	16,974		15,628
Musictuitionfees	1,952		1,871
Totalfees Less:DfECap- Tuitionandboardingfees Bursaries,scholarshipsandotherdiscounts	18,926 (1,038) (2,603)		17,499 (946) (2,421)
Covidrelateddiscounts	-		(469)
	15,285		13,663
TheDepartmentforEducationcapisthecontribution	bytheSchooltocoveranyshortfallwhicharisesbecause
thefeesallowedbytheDfEfortheMusicandDanceSchemearelowerthanfullfees.		Thebursaries		includethe
restrictedbursariesdonatedfromtheFoundationof£22k(2021:48k).
IncomefromCharitableActivities
		2022		2021
		£000		£000
Othereducationalincome:
Schoolactivities		599		415
Extratuition		167		134
WellsMusicCollegeincome		8		10
Registrationandauditionfees		37		36
Otherincome		4		17
Covidrelatedincome		-		462
		815		1,074
		2022		2021
		£000		£000
Otherancillarytradingincome:
Busserviceforpupils		114		46
Concertincome		4		2
Otherincome		228		151
		346		199

WellsCathedralSchool	WellsCathedralSchool		Limited(limitedby	Limited(limitedby	Limited(limitedby	guarantee)	guarantee)
Consolidated		Statement		ofFinancialActivities
			Yearended		31August		2022
14 Stocks
Theseconsistofcateringsupplies.
15 Debtors
			Group			School
	2022		2021		2022		2021
	£000		£000		£000		£000
Tradedebtors- amountsduefromparents	1,012		892		1,012		899
Otherdebtors	378		240		371		275
Prepayments	323		242		323		236
	1,713		1,374		1,706		1,410
16 Creditors:amountsfallingduewithinoneyear
			Group			School
	2022		2021		2022		2021
	£000		£000		£000		£000
Bankloansandoverdrafts	161		222		161		222
Feesreceivedinadvance	2,521		2,076		2,521		2,076
Pupildeposits	1,623		2,187		1,623		2,187
Tradecreditors		5	28		5		28
Taxationandsocialsecurity	182		169		182		169
Financelease	29		29		29		29
Othercreditors	533		478		§33		478
Accrualsanddeferredincome	620		325		628		319
	5,674		5,514		5,682		5,508
Inthenormalcourseofbusinessandassumingthegoingconcernbasis,the			expectedrepaymentofdepositsto
parentsofpupilsleavingtheSchoolwillbe£1,623k(2021:£2,187k).
Feesreceivedinadvance:
GroupandSchool
				2022			2021
				£000			£000
At |September21			2,134				169
Newcontracts				16			68
Feesreceivedinadvanceofnextacademicyear			2,370			1,923
AmountsutilisedinpaymentoffeestotheSchool			(1,988)				(26)
At31August22			2,532			2,134
							41

Thenetassetsareheldforthevariousfundsasfollows:	Thenetassetsareheldforthevariousfundsasfollows:	Thenetassetsareheldforthevariousfundsasfollows:
Group
	Fixed	assets	Netcurrent assets/(liabilities)		Longterm liabilities	Total
		£000		£000	£000	£000
Endowmentfunds		1,146		(159)		987
Restrictedfunds		5,773		(1,751)		4,022
Revenuefund Designatedassetfunds		- 17,040		(4,586) 5,003	(78) (2,552)	(4,664) 19,491
	23,959			(1,493)	(2,630)	19,836
School	: Fixedassets			Netcurrent assets/(liabilities)	Longterm liabilities	Total
		£000		£000	£000	£000
Restrictedfunds		5,774		(2,208)		3,566
Revenuefund Designatedassetfunds		17,040	-	(4,659) 5,003	(78) (2,552)	(4,737) 19,491
		22,814		(1,864)	(2,630)	18,320

ComparativeStatementofAllocationofNetAssets	ComparativeStatementofAllocationofNetAssets	forperiodended31August2021:	forperiodended31August2021:
Group
	Fixedassets	Netcurrent assets/(liabilities)	Longterm liabilities	Total
	£000	£000	£000	£000
Endowmentfunds	1,247	(177)		1,070
Restrictedfunds	5,724	(1,721)		4,003
Revenuefund	-	(5,033)	(154)	(5,187)
Designatedassetfunds	17,252	4,887	(2,789)	19,350
	24,223	(2,044)	(2,943)	19,236
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	Wells	CathedralSchoolLimited	CathedralSchoolLimited	(limitedbyguarantee)	(limitedbyguarantee)
		ConsolidatedStatementofFinancialActivities
			Year	ended31August2022
Thenetassetsandliabilitieswere:
					2022
					£000
Fixedassets:
Investments					1,146
Totalcurrentassets					371
Creditors:amountfallingduewithinoneyear					°
Netcurrentassets					371
Netassets					1,517
Totalcharityfunds					1,517
31 ComparativeConsolidatedStatement		ofFinancial	Activitiesforperiodended
31August2021
		Endowment’	Restricted	Unrestricted	Total
		funds	funds	funds	2021
		£000	£000	£000	£000
Income
Incomefromcharitableactivities:		23	146	100	269
Expenditureonraisingfunds:		-	(98)	(48)	(146)
Unrealisedgains/(losses)oninvestments		218	20	-	238
Transfers		(26)	(70)	96	-
Netmovementinfunds		215	(2)	148	361
Balancebroughtforwardat1 August		856	396	4	1,256
Balancecarriedforwardat31August		1,071	394	152	1,617
Thenetassetsandliabilitieswere:
					2021
					£000
Fixedassets:
Investments					1,247
Totalcurrentassets					417
Creditors:amountfallingduewithinone	year				(47)
Netcurrentassets					371
Netassets					1,617
Totalcharityfunds					1,617
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