2020-08-31-accounts - The Downs School (Charlton House) Limited

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					Page
Reference and Administrative		Details ofthe Company,	its Governors	and Advisers
Governors'	Report
Independent	Auditors' Report	on the Financial Statements			10-12
Consolidated	Statement ofFinancial Activities				13
Consolidated	Balance Sheet				14
Company Balance Sheet					15
Consolidated	Statement ofCash Flows				16
Notes to the	Financial Statements				17-38

Governors			Mr M.A. Burchfield,	Mr M.A. Burchfield,	Chair	Chair
			Mrs H.M. Archer
			Mr C.R.G. Biggin
			Lady E.J.Burgh (resigned				24 October 2019)
			MrJ.M. Collard
			Mr D.J.Ferris
			Mr S.W. Holliday	(resigned			20 June 2020)
			Mrs N.A. Huggett	(resigned				20 June 2020)
			MrJ.A. Isaacs
			Mr T.P. Lloyd-Jones
			Mr B.J.Northover
			Mrs R.Tear
			Dr R.S.Thomson
			Mrs R.E.Thornton
			MR C.N.I.Tuttiett	(appointed				20 June 2020)
			Mrs H. Mack (appointed			14March 2020)
Company	registered
number			01072074
Charity registered
number			310279
Registered		office	The Downs School
			Charlton House
			Wraxall
			Bristol
			North Somerset
			BS481PF
Company	secretary		Mrs H.L. Walker
Headmaster			Mr M.A. Gunn (retired		6July			2020)
			Mrs D Isaachsen	(appointed				1 September 2020)
Independent		auditors	Bishop Fleming LLP
			Chartered Accountants
			10Temple Back
			Bristol
			BS16FL
Bankers			Barclays Bank pic
			4th Floor, Bridgewater		House
			Counterslip
			Finzels Reach
			Bristol
			BS16BX
Solicitors			Veale Wasbrough	Vizards			LLP
			Narrow Quay House
			Narrow Quay
			Bristol
			BS14QA

Strategy	Committee	Committee	Committee	Mr M.A. Burchfield (Chair) Lady E.J.Burgh (resigned 24 October 2019) MrJ.M. Collard	Mr M.A. Burchfield (Chair) Lady E.J.Burgh (resigned 24 October 2019) MrJ.M. Collard	Mr M.A. Burchfield (Chair) Lady E.J.Burgh (resigned 24 October 2019) MrJ.M. Collard	Mr M.A. Burchfield (Chair) Lady E.J.Burgh (resigned 24 October 2019) MrJ.M. Collard
				Mr D.J.Ferris
				Mr M.A. Gunn
				MrJ.A. Isaacs
				Mr C.N.I. Tuttiett Mr B.J.Northover	(appointed		20June 2020)
				Mrs H.L. Walker
Nursery	Committee			MrJ.M. Collard (Chair)
				Mrs H. M. Archer
				Mr M.A. Gunn
				Mr M. A. Newman
				Dr R.SThomson
				Mrs R. E.Thornton
				Mrs H. L.Walker
Remuneration			Committee	Mrs R. E.Thornton		(Chair)
				Mr M.A. Burchfield
				Mr M.A. Gunn Mrs		H.L.Walker
Education		Committee		MrS.W. Holliday	(Chair)		(Retired 20 June 2020)
				Mr M.A. Gunn
				Mrs N.A. Huggett
				Mrs R.Tear
Risk and	Regulatory			Mr B.J. Northover		(Chair)
Committee				Mrs H.M. Archer
				Ms H.M. Fulton
				Mr M.A. Gunn
				Mrs R.Tear
				Dr. R.S.Thomson
				Mrs H.L.Walker
Governors'		Development		MrJ.A. Isaacs (Chair)
Committee				Lady E.J.Burgh (Resigned 20June 2020)
				Mr M.A. Burchfield		Mr M.A.	Gunn
				Mr B.J.Northover
Health and		Safety Committee		Mrs H.L.Walker (Chair)
				Mr P.A. Brockwell
				MrJ.M. Collard
				Ms H.M. Fulton
				Mr M.A. Gunn
				Mrs R.E.Thornton
Downs School			Association	Mrs V.Sweetman		(Chair)
Committee				Mrs K. Northover	(Secretary)
				Mrs G. Hagger (Treasurer)

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2020	2020	2020	2019
		Note	E			E
INCOME FROM:
Donations and legacies			46,675	1,094	47,769	98,617
Charitable activities			3,433,649		3,433,649	3,933,238
Other trading activities			494,456		494,456	513,045
Investments			2,972		2,972	3,999
Other income			151,824		151,824
TOTAL INCOME			4,129,576	1,094	4,130,670	4,548,899
EXPENDITURE ON:
Raising funds			493,274		493,274	501,673
Charitable activities			3,410,968	1,099	3,412,067	3,745,126
TOTAL EXPENDITURE			3,904,242	1,099	3,905,341	4,246,799
NET MOVEMENT	IN FUNDS		225,334	(5)	225,329	302,100
RECONCILIATION	OF FUNDS:
Total funds brought	forward		3,272,698	5	3,272,703	2,970,603
Net movement in funds			225,334	(5)	225,329	302,100
TOTAL FUNDS CARRIED FORWARD			3,498,032		3,498,032	3,272,703

				2020		2019
		Note		E
FIXEDASSETS
Tangible assets		13		3,868,371		3,977,444
				3,868,371		3,977,444
CURRENT ASSETS
Stocks		15	18,936		24,425
Debtors		16	190,762		184,547
Cash at bank and	in hand		1,030,318		852,950
			1,240,016		1,061,922
Creditors: amounts	falling due within one
year		17	(801,557)		(1,008,062)
NET CURRENT ASSETS				438,459		53,860
TOTAL ASSETSLESSCURRENT
LIABILITIES				4,306,830		4,031,304
Creditors: amounts	falling due after more
than one year		18		(808,798)		(758,601)
TOTAL NET ASSETS				3,498,032		3,272,703
CHARITY FUNDS
Restricted funds		19				5
Unrestricted funds		19		3,498,032		3,272,698
TOTAL FUNDS				3,498,032		3,272,703

				2020		2019
		Note
FIXEDASSETS
Tangible assets		13		3,823,760		3,918,861
Investments		14		1		1
				3,823,761		3,918,862
CURRENT ASSETS
Stocks		15	16,685		22,534
Debtors		16	516,494		484,772
Cash at bank and	in hand		1,012,436		790,257
			1,545,615		1,297,563
Creditors: amounts	falling due within one
year		17	(778,491)		(960,559)
NET CURRENT ASSETS				767,124		337,004
TOTAL ASSETS LESSCURRENT
LIABILITIES				4,590,885		4,255,866
Creditors: amounts	falling due after more
than one year		18		(&08,798)		(758,601)
TOTAL NET ASSETS				3,782,087		3,497,265
CHARITY FUNDS
Restricted funds		19				5
Unrestricted funds		19		3,782,087		3,497,260
TOTAL FUNDS				3,782,087		3,497,265

				Note	2020f	2019f
CASH FLOWS FROM OPERATING		ACTIVITIES
Net cash used in operating activities				21	392,383	409,544
CASH FLOWS FROM INVESTING		ACTIVITIES
Dividends, interests and rents from		investments			2,972	3,999
Proceeds from the sale oftangible	fixed assets					1,947
Purchase oftangible fixed assets					(108,028)	(111,025)
Bank interest paid					(5,495)	(3,976)
NET CASH USED IN INVESTING	ACTIVITIES				(110,551)	(109„055)
CASH FLOWS FROM FINANCING		ACTIVITIES
Cash inflows from new borrowing					156,548
Repayments of borrowing					(236,817)	(116,812)
Repayment of hire purchase loans					(10,884)	(5,516)
Interest paid on borrowings					(13,311)	3,788
NET CASH USED IN FINANCING	ACTIVITIES				(104,464)	(118,540)
CHANGE IN CASH AND CASH EQUIVALENTS			IN THE YEAR		177,368	181,949
Cash and cash equivalents at the beginning ofthe year					852,950	671,001
CASH AND CASH EQUIVALENTS		AT THE END	OF THE YEAR	22	1,030,318	852,950

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2020	2020	2020	2019
			F
General Donations		37,500	1,094	38,594	87,814
The Downs School Association		9,175		9,175	10,803
		46,675	1,094	47,769	98,617
TOTAL 2019		98,503		98,617
INCOME FROM CHARITABLE ACTIVITIES
				2020	2019
Gross fees receivable				3,656,461	4,057,860
Bursaries and scholarships				(484,691)	(505,691)
Income from rechargeable	expenditure			257,829	376,619
Registration fees				4,050	4,450
				3,433,649	3,933,238

		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
			F	E
Lettings		14,583	14,583	18,272
Other income		8,029	8,029	13,894
Fundraising	income	10,921	10,921	14,986
		33,533	33,533	47,152
TOTAL201	9	47,152	47,152

		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
		E	E
Nursery	Income	460,923	460,923	465,893
TOTAL	2019	465,893	465,893

	Unrestricted	Total	Total
	funds	funds	funds
	2020	2020f	2019
Rental Income	400	400	400
Bank Interest	2,572	2,572	3,599
	2,972	2,972	3,999
TOTAL 2019	3,999	3,999

Unrestricted	Total	Total
funds	funds	funds
2020	2020	2019
E		E
151,824	151,824

				Unrestricted	Total	Total
				funds	funds	funds
				2020f	2020	2019
Fundraising		expenditure		5,542	5,542	8,796
TOTAL	2019			8,796	8,796
Expenditure		from non charitable	trading activities
				Unrestricted	Total	Total
				funds	funds	funds
				2020f	2020 F	2019
Nursery	expenditure			487,632	487,632	492,877
Interest	payable			100	100
				487,732	487,732	492,877
TOTAL	2019			492,877	492,877

		Activities
		undertaken	Support	Total	Total
		directly	costs	funds	funds
		2020	2020	2020	2019
		F
Education		2,538,399	873,668	3,412,067	3,745,126
TOTAL 2019		2,720,161	1,024,965	3,745,126
Analysis ofdirect costs
					Total
					funds
					2020
					E
Staff costs					1,993,796
Depreciation					95,623
Educational	supplies				158,229
Household	and welfare				15,721
Catering					222,750
Transport					52,280
					2,538,399

							Total
							funds
							2020
							F
Staff costs							353,193
Depreciation							105,929
Educational	supplies						28,452
Other costs							31,609
Premises costs							171,122
Grounds maintenance							49,070
Management	expenses						84,186
Financing expenses							20,541
Legal and professional							16,884
Bank interest	and charges
Governance							12,682
							873,668
NET INCOME/(EXPENDITURE)
						2020	2019
Depreciation	oftangible	fixed asstes:
-owned by	the charitable		group			217,101	206,503
Fees payable	to the Company's			auditor	in respect of:
Auditors' remuneration		- audit				11,400	11,000
Auditors' remuneration		-other services				400	360
Operating lease rentals						27,570	23,739

		Group	Group	Company	Company
		2020	2019	2020	2019
				f.	E
Wages and	salaries	1,859,770	1,899,531	1,859,770	1,899,531
Social security costs		166„579	169,029	166,579	169,029
Contribution	to pension schemes	320,640	230,645	320,640	230,645
		2,346,989	2,299,205	2,346,989	2,299,205

		Group	Group
		2020	2019
		No.	No.
Teaching staff		44	46
Administrative	staff	43	36
		87	82

		Group	Group	Company	Company
		2020	2019	2020	2019
		No.	No.	No.	No.
Teaching staff		34	35	34	35
Administrative	staff	38	25	24	25
		72	60	58	60

Group	Group
2020	2019
No.	No.

			Fixtures		Other
	Freehold	Motor	and	Computer	fixed
	property	vehicles	fittings	equipment	assets	Total
			E		E
COST OR VALUATION
At 1 September 2019	5,158,060	9,100	961,163	262,939	188,368	6,579,630
Additions	420	2,800	67,273	37,535	-	108,028
Disposals				(7,782)	-	(7,782)
At 31August 2020	5,158,480	11,900	1,028,436	292,692	188,368	6,679,876
DEPRECIATION
At 1 September 2019	1,642,906	8,900	632,122	209,225	109,033	2,602,186
Charge for the year	93,112	800	74,410	36,762	12,017	217,101
On disposals				(7,782)		(7,782)
At 31 August 2020	1,736,018	9,700	706,532	238,205	121,050	2,811,505
NET BOOK VALUE
At 31August 2020	3,422,462	2,200	321,904	54,487	67,318	3,868,371
At 31August 2019	3,515,154	200	329,041	53,714	79,335	3,977,444

			Fixtures		Other
	Freehold	Motor	and	Computer	fixed
	property	vehicles	fittings	equipment	assets	Total
	E		E	E	E	F
COST OR VALUATION
At 1 September 2019	5,158,060	9,100	876,289	260,480	188,368	6,492,297
Additions	420	2,800	65,696	37,535		106,451
Disposals				(7,782)		(7,782)
At 31August 2020	5,158,480	11,900	941,985	290,233	188,368	6,590,966
DEPRECIATION
At 1 September 2019	1,642,906	8,900	604,604	207,993	109,033	2,573,436
Charge for the year	93,112	800	59,477	36,146	12,017	201,552
On disposals				(7,782)	-	(7,782)
At 31August 2020	1,736,018	9,700	664,081	236,357	121,050	2,767,206
NET BOOK VALUE
At 31August 2020	3,422,462	2,200	277,904	53,876	67,318	3,823,760
At 31 August 2019	3,515,154	200	271,685	52,487	79,335	3,918,861

	Investments
	in
	subsidiary
Company	companiesf
COST OR VALUATION
At 1 September 2019
AT 31AUGUST 2020
NET BOOK VALUE
AT 31AUGUST 2020
AT 31AUGUST 2019

15.	STOCKS
		Group	Group	Company	Company
		2020f	2019f	2020f	2019
	Consumables	18,936	24,425	16,685	22,534
16.	DEBTORS

		Group	Group	Company	Company
		2020f	2019 f	2020 f	2019 f
DUE WITHIN	ONE YEAR
Trade debtors		102,269	89,496	85,564	81,932
Amounts owed by group undertakings				353,578	321,847
Other debtors		328	15,000	328	15,000
Prepayments	and accrued income	88,165	80,051	77,024	65,993
		190,762	184,547	516,494	484,772

						Group	Group	Company	Company
						2020	2019 F	2020f	2019
Bank loans						120,949	252,572	120,949	252,572
Payments	received		on account			131,438	116,633	131,438	116,633
Trade creditors						67,677	106,646	65,478	93,218
Other taxation and		social security				42,652	46,360	40,639	42,733
Obligations	under finance lease and hire
purchase	contracts					9,587	9,160	9,587	9,160
Other creditors						68,110	56,706	54,865	43,111
Accruals and deferred				income		361,144	419,9&5	355,535	403,132
						&01,557	1,008,062	778,491	960,559
						Group	Group	Company	Company
						2020	2019	2020	2019
						E	E
Deferred income at			1 September		2019	337,855	343,519	333,274	343,519
Resources	deferred		during the year			311,770	337,855	311,770	333,274
Amounts released		from previous			periods	(337,855)	(343,519)	(333,274)	(343,519)
						311,770	337,855	311,770	333,274

		Group	Group	Company	Company
		2020	2019	2020f	2019 F
Bank loans		782,965	723,181	782,965	723,181
Obligations	under finance lease and hire
purchase	contracts	25,833	35,420	25,833	35,420
		808,798	758,601	808,798	758,601

STATEMENT OF FUNDS	- CURRENT Y	EAR
		Balance at 1			Balance at
		September			31August
		2019	Income	Expenditure	2020
		E	F	E	E
UNRESTRICTED FUNDS
General Funds		3,457,657	3,648,557	(3,369,225)	3,736,989
The Downs School Association		24,617	20,096	(14,601)	30,112
Downs School Enterprises	Limited	(209,576)	460,923	(520,416)	(269,069)
		3,272,698	4,129,576	(3,904,242)	3,498,032
RESTRICTED FUNDS
Donations			94	(99)
Bursary			1,000	(1,000)
			1,094	(1,099)
TOTAL OF FUNDS		3,272,703	4,130,670	(3,905,341)	3,498,032

19.	STATEMENT OF FUNDS	(CONTINUED)
	STATEMENT OF FUNDS	- PRIOR YEAR
			Balance at			Balance at
		1	September			31August
			2018	Income	Expenditure	2019
				E
	UNRESTRICTED FUNDS
	General Funds		3,083,845	4,065,899	(3,692,087)	3,457,657
	The Downs School Association		22,857	16,993	(15,233)	24,617
	Downs School Enterprises	Limited	(136,099)	465,893	(539,370)	(209,576)
			2,970,603	4,548,785	(4,246,690)	3,272,698
	RESTRICTED FUNDS
	Donations			114	(109)
	TOTAL OF FUNDS		2,970,603	4,548,899	(4,246,?99)	3,272,703
20.	ANALYSIS OF NET ASSETS BETWEEN FUNDS
	ANALYSIS OF NET ASSETS BETWEEN FUNDS		- CURRENT	PERIOD

ANALY	SIS O	F NET ASSETS BETWEEN FUNDS - CUR	RENT PERIOD
			Unrestricted	Total
			funds	funds
			2020	2020
			K
Tangible	fixed	assets	3,868,371	3,868,371
Current	assets		1,240,016	1,240,016
Creditors	due	within one year	(801,557)	(801,557)
Creditors	due	in more than one year	(808,798)	(808,798)
TOTAL			3,498,032	3,498,032

ANALY	SIS O	F NET ASSETSBETWEEN FUNDS	- PRIOR PERIOD
			Unrestricted	Restricted	Total
			funds	funds	funds
			2019	2019	2019
Tangible	fixed	assets	3,977,444		3,977,444
Current	assets		1,061,917		1,061,922
Creditors	due	within one year	(1,008,062)		(1,008,062)
Creditors	due	in more than one year	(758,601)		(758,601)
TOTAL			3,272,698	5	3,272,703

				Group	Group
				2020	2019
				K
	Net income	for the period (as per Statement	of Financial Activities)	225,329	302,100
	ADJUSTMENTS FOR:
	Depreciation	charge		217,101	206,503
	Dividends, interest and rents from investments			(2,972)	(3,999)
	Decrease in	stocks		5,489	1,695
	Decrease/(increase) in debtors			(6,215)	70,102
	Decrease in	creditors		(75,309)	(156,282)
	Loss on disposal offixed assets				(1,485)
	Interest paid			10,154	188
	Interest rate	swap fair value adjustment			(9,278)
	NET CASH	PROVIDED BYOPERATING ACTIVITIES		373,577	409,544
22.	ANALYSIS OF CASH AND CASH EQUIVALENTS
				Group	Group
				2020	2019
					E
	Cash in hand			1,030,318	852,950
	TOTAL CASH AND CASH EQUIVALENTS			1,030,318	852,950

			Cash
	At 1		inflows	Repayment	Finance
	September		from new	sof	lease	At 31
	2019	Cash flows	borrowing	borrowing	repayments	August 2020
	E				K
Cash at bank
and in hand	852,950	177,368				1,030,318
Debt due within
1 year	(252,572)		(30,715)	162,338		(120,949)
Debt due after 1
year	(723,181)		(125,813)	66,029		(782,965)
Finance leases	(44,580)				9,160	(35,420)
	(167,383)	177,368	(156,528)	228,367	9,160	90,984

At 31 August	At 31 August	2020 the Group	and the	Company	had commitments to	had commitments to	make	future minimum	lease
payments	under non-cancellable		operating	leases as	follows:
					Group	Group	Company Company
					2020	2019f		2020 F	2019
Not later than		1 year			27,720	27,570		27,720	27,570
Later than	1 year and not later than 5years				26,410	53,630		26,410	53,630
					54,130	81,200		54,130	81,200

PRINCIPAL	SUBSIDIARIES	SUBSIDIARIES
The following	was a subsidiary		undertaking			of	the Company:
Name				Company			Registered		office or principal			Principal	activity
				number			place of	business
Downs School Enterprises				10801425			The Downs		School,			Nursery
Limited							Charlton		Drive, Wraxall,
							Bristol,	BS481PF
Class of	Holding	Included		in
shares		consolidation
Ordinary	100%	Yes
The financial	results ofthe	subsidiaries			for the		year were:
Names							Income f	Expenditure		f	Profit/(Loss) forthe year		Net assets f
Downs School Enterprises		Limited					460,923		(520,416)			(59,493)	(284,054)