2021-08-31-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			11-14
Consolidated	statement offinancial activities				15
Consolidated	balance sheet				16 - 17
Company balance sheet					18
Consolidated	statement ofcash flows				19
Notes to the	financial statements				20-41

Governors	Governors		Mr M.A. Burchfield,	Mr M.A. Burchfield,	Chair	Chair
			Mrs H.M. Archer
			Mr C.R.G. Biggin
			Mr J.M. Collard
			Mr D.J.Ferris
			Mr J.A. Isaacs
			Mr T.P. Lloyd-Jones
			Mrs H. Mack
			Mr T.P. Matthews	(appointed 26 June 2021)
			Mr B.J.Northover
			Mr T O' Sullivan (appointed 21 November				2020)
			Mrs R.Tear
			Dr R.S.Thomson
			Mrs R.E.Thornton
			Mr C.N.I.Tuttiett
Company	registered
number			01072074
Charity registered number			310279
Registered		office	The Downs School
			Charlton House
			Wraxall
			Bristol
			BS481PF
Company	secretary		Mrs H. L.Walker (to Mr. J.Barclay (from		31 July 2021) 1 August 2021)
Headteacher			Mrs D.J.Isaachsen
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			Mr M.A. Burchfield	(Chair)
					MrJ.M. Collard
					Mr D.J.Ferris
					Mrs D. Isaachsen
					Mr J.A. Isaacs
					Mr C.N.I.Tuttiett
					Mr B.J.Northover
					Mrs H.L.Walker (resigned 31 July 2021)
Nursery	Committee				Mr J.M. Collard (Chair) Mrs		H. M. Archer
					Mrs D. Isaachsen
					Mr M. A. Newman
					Dr R.S.Thomson
					Mrs R.E.Thornton
					Mrs H. L. Walker (resigned		31 July 2021)
Remuneration		Committee			Mrs R. E.Thornton	(Chair)
					Mr M. A. Burchfield
					Mrs D. Isaachsen
					Mrs H.L.Walker (resigned 31 July 2021)
Education	Committee				Mrs R.Tear (Chair)
					Mrs D. Isaachsen
					Mr T. O' Sullivan (appointed		21 November	2020)
Risk and	Regulatory		Committee		Mr B.J.Northover	(Chair)
					Mrs H.M. Archer
					Mrs D. Isaachsen
					Mrs R.Tear
					Dr. R.S.Thomson
					Mrs H.L.Walker (resigned 31 July 2021)
Governors' Development				Committee	MrJ.A. Isaacs (Chair)
					Mr M. A. Burchfield
					Mrs D. Isaachsen
					Mr B.J.Northover
Health and Safety Committee					Mrs H.L.Walker (Chair) (resigned 31 July			2021)
					Mr P.A. Brockwell
					MrJ.M. Collard
					Mrs D. Isaachsen
					Mrs R.E.Thornton
					Mr C.N.I.Tuttiett
Downs School		Association		Committee	Mrs. C.Williams (Chair)
					Mrs K. Northover (Secretary)
					Mrs G. Hagger (Treasurer)

				Restricted	Unrestricted	Total	Total
				funds	funds	funds	funds
				2021	2021	2021	2020
			Note	E			E
Income from:
Donations and	legacies			4,809	13,892	18,701	47,769
Charitable activities					3,369,689	3,369,689	3,433,649
Other trading activities					689,469	689,469	494,456
Investments					451	451	2,972
Other income					56,607	56,607	151,824
Total income				4,809	4,130,108	4,134,917	4,130,670
Expenditure on:
Raising funds					529,519	529,519	493,274
Charitable activities				2,309	3,278,808	3,281,117	3,412,067
Total expenditure				2,309	3,808,327	3,810,636	3,905,341
Net movement	in funds			2,500	321,781	324,281	225,329
Reconciliation	offunds:
Total funds brought		forward			3,498,032	3,498,032	3,272,703
Net movement	in funds			2,500	321,781	324,281	225,329
Total funds carried		forward		2,500	3,819,813	3,822,313	3,498,032

				2021		2020
		Note
Fixed assets
Tangible assets				3,823,357		3,868,371
				3,823,357		3,868,371
Current assets
Stocks		15	18,693		18,936
Debtors		16	198,106		190,762
Cash at bank and	in hand		1,751,845		1,030,318
			1,968,644		1,240,016
Creditors: amounts	falling due within one
year		17	(1,002,030)		(801,557)
Net current assets				966,614		438,459
Total assets less	current liabilities			4,789,971		4,306,830
Creditors: amounts	falling due after more
than one year		18		(967,658)		(808,798)
Total net assets				3,822,313		3,498,032
Charity funds
Restricted funds		20		2,500
Unrestricted funds		20		3,819,813		3,498,032
Total funds				3,822,313		3,498,032

		Note		2021f		2020 E
Fixed assets
Tangible assets		13		3,792,457		3,823,760
Investments		14		1		1
				3,792,458		3,823,761
Current assets
Stocks		15	17,417		16,685
Debtors		16	500,074		516,494
Cash at bank and	in hand		1,635,051		1,012,436
			2,152,542		1,545,615
Creditors: amounts	falling due within one
year		17	(963,451)		(778,491)
Net current assets				1,189,091		767,124
Total assets less	current liabilities			4,981,549		4,590,885
Creditors: amounts	falling due after more
than one year		18		(967,658)		(808,798)
Total net assets				4,013,891		3,782,087
Charity funds
Restricted funds		20		2,500
Unrestricted funds		20		4,011,391		3,782,087
Total funds				4,013,891		3,782,087

					2021	2020
					E	E
Cash flows from operating		activities
Net cash used in operating	activities				720,889	392,383
Cash flows from investing		activities
Dividends, interests and rents from investments					451	2,972
Proceeds from the sale oftangible fixed			assets		1,776
Purchase oftangible fixed assets					(171,564)	(108,028)
Bank interest paid					(3,787)	(5,495)
Net cash used in investing		activities			(173,124)	(110,551)
Cash flows from financing		activities
Cash inflows from new borrowing					250,000	156,548
Repayments of borrowing					(53,637)	(236,817)
Repayments of hire purchase		loans			(11,311)	(10,884)
Interest paid on borrowings					(11,290)	(13,311)
Net cash provided by/(used		in) financing		activities	173,762	(104,464)
Change in cash and cash	equivalents		in	the year	721,527	177,368
Cash and cash equivalents	at the beginning			ofthe year	1,030,318	852,950
Cash and cash equivalents		at the end	of	the year	1,751,845	1,030,318
The notes on pages 20 to41		form part ofthese financial statements

			Restricted	Unrestricted	Total	Total
			funds	funds	funds	funds
			2021	2021	2021	2020
			E		E
General Donations			4,809	5,612	10,421	38,594
The Downs	School Association			8,280	8,280	9,175
			4,809	13,892	18,701	47,769
TOTAL 2020			1,094	46,675	47,769
Income from charitable		activities
					2021	2020
					F
Gross fee receivable					3,648,968	3,656,461
Bursaries and scholarships					(521,899)	(484,691)
Income from	rechargeable	expenditure			236,320	257,829
Registration	fees				6,300	4,050
					3,369,689	3,433,649

		Unrestricted	Total	Total
		funds	funds	funds
		2021	2021	2020
			F	E
Letting s		6,667	6,667	14,583
Other income		8,884	8,884	8,029
Fundraising	income	11,924	11,924	10,921
		27,475	27,475	33,533
TOTAL202	0	33,533	33,533

		Unrestricted	Total	Total
		funds	funds	funds
		2021	2021	2020
Nursery	income	661,994	661,994	460,923
TOTAL	2020	460,923	460,923

	Unrestricted	Total	Total
	funds	funds	funds
	2021	2021	2020
	F	F
Rental income	400	400	400
Bank interest	51	51	2,572
	451	451	2,972
TOTAL 2020	2,972	2,972

	Unrestricted	Total	Total
	funds	funds	funds
	2021	2021	2020
	F		E
CJRS income	56,607	56,607	151,824
TOTAL 2020	151,824	151,824

						Unrestricted		Total		Total
						funds		funds		funds
						2021		2021		2020
Fundraising expenditure						7,602		7,602		5,542
TOTAL	2020					5,542		5,542
Expenditure		from non	charitable	trading	activities
						Unrestricted		Total		Total
						funds		funds		funds
						2021 E		2021f		2020
Nursery	cost	ofsales				59,509		59,509		40,623
Nursery	administration		expenses			56,477		56,477		62,802
Interest	payable					100		100		100
Nursery	cost	ofsales staff costs				307,572		307,572		296,786
Nursery	administration		staff costs			82,170		82,170		71,872
Nursery	depreciation					16,089		16,089		15,549
						. 521,917	.	.521,,917.	.	487,732.
TOTAL	2020					487,732		487,732

	Activities
	undertaken	Support	Total	Total
	directly	costs	funds	funds
	2021f	2021	2021	2020
Education	2,416,501	864,616	3,281,117	3,412,067
TOTAL 2020	2,538,399	873,668	3,412,067
Analysis ofdirect costs

			Total	Total
		Education	funds	funds
		2021f	2021 F	2020 E
Staff costs		1,873,002	1,873,002	1,993,796
Depreciation		90,565	90,565	95,623
Educational	supplies	141,532	141,532	158,229
Household	and welfare	9,990	9,990	15,721
Catering		257,905	257,905	222,750
Transport		43,507	43,507	52,280
		2,416,501	2,416,501	2,538,399

						Total	Total
					Education	funds	funds
					2021	2021	2020
					E	E	E
Staff costs					336,868	336,868	353,193
Depreciation					109,036	109,036	105,929
Educational supplies					29,773	29,773	28,452
Other costs					39,765	39,765	31,609
Premises costs					184,274	184,274	171,122
Grounds maintenance					25,223	25,223	49,070
Management expenses					99,258	99,258	84,186
Financing expenses					17,133	17,133	20,541
Legal and professional					10,427	10,427	16,884
Governance					12,859	12,859	12,682
					864,616	864,616	873,668
Net income/expenditure
						2021	2020
							E
Depreciation oftangible	fixed assets:
-owned by the charitable		group				215,690	217,101
Fees payable to the Company's			auditor	in respect of:
Auditors' remuneration	-audit					12,050	11,400
Auditors' remuneration	-other		services			410	400
Operating lease rentals						27,720	27,570

		Group	Group	Company	Company
		2021	2020	2021	2020
		E	E	f.	E
Wages and salaries		2,161,479	2,201,783	1,799,761	1,859,770
Social security costs		182,822	182,645	163,851	166,579
Employer contribution	to pension schemes	255,311	331,219	246,258	320,640
		2,599,612	2,715,647	2,209,870	2,346,989

						Group	Group
						2021	2020
						No.	No.
Teaching staff						50	44
Administrative	staff					49	43
							87
The average headcount		expressed as full-time	equivalents	was:
			Group		Group	Company	Company
			2021		2020	2021	2020
				No.	No.	No.	No.
Teaching staff				37	34	37	34
Administrative	staff			39	38	21	24
				76	72	58	58

Group	Group
2021	2020
No.	No.

	Freehold	Motor	Fixtures	Computer	Other fixed
	property K	vehicles E	and fittings	equipment E	assets f	Total
COST OR VALUATION
At 1 September 2020	5,158,480	11,900	1,028,436	292,692	188,368	6,679,876
Additions	108,260		29,185	33,569	550	171,564
Disposals			(50)	(36,818)	(552)	(37,420)
At 31August 2021	5,266,740	11,900	1,057,571	289,443	188,366	6,814,020
DEPRECIATION
At 1 September 2020	1,736,018	9,700	706,532	238,205	121,050	2,811,505
Charge for the year	97,423	800	'72,028	34,626	10,813	215,690
On disposals			(20)	(36,237)	(275)	(36,532)
At 31August 2021	1,833,441	10,500	778,540	236,594	131,588	2,990,663
NET BOOK VALUE
At 31 August 2021	3,433,299	1,400	279,031	52,849	56,778	3,823,357
At 31August 2020	3,422,462	2,200	321,904	54,487	67,318	3,868,371

	Freehold	Motor	Fixtures	Computer	Other fixed
	property E	vehicles	and fittings f.	equipment	assets f	Total
COST OR VALUATION
At 1 September 2020	5,158,480	11,900	941,985	290,233	188,368	6,590,966
Additions	108,260		28,860	31,516	550	169,186
Disposals			(50)	(36,818)	(552)	(37,420)
At 31August 2021	5,266,740	11,900	970,795	284,931	188,366	6,722,732
DEPRECIATION
At 1 September 2020	1,736,018	9,700	664,081	236,357	121,050	2,767,206
Charge for the year	97,423	800	57,062	33,503	10,813	199„601
On disposals			(20)	(36,237)	(275)	(36,532)
At 31August 2021	1,833,441	10,500	721,123	233,623	131,588	2,930,275
NET BOOK VALUE
At 31August 2021	3,433,299	1,400	249,672	51,308	56,778	3,792,457
At 31August 2020	3,422,462	2,200	277,904	53,876	67,318	3,823,760

	Investments
	in
	subsidiary
COMPANY	companiesf
COST OR VALUATION
At 1 September 2020
At 31 August 2021
NET BOOK VALUE
At 31August 2021
AT31AUGUST2020

				Group	Group	Company	Company
				2021	2020	2021	2020
				F		E
	Consumables			18,693	18,936	17,417	16,685
16.	Debtors
				Group	Group	Company	Company
				2021	2020	2021	2020
					E		E
	DUE WITHIN		ONE YEAR
	Trade debtors			122,770	102,269	114,228	85,564
	Amounts	owed by Group undertakings				318,290	353,578
	Other debtors			198	328	198	328
	Prepayments		and accrued income	75,138	88,165	67,358	77,024
				198,106	190,762	500,074	516,494

						Group	Group	Company	Company
						2021f	2020 E	2021f	2020
Bank loans						146,715	120,949	146,715	120,949
Payments	received		on account			142,945	131,438	142,945	131,438
Trade creditors						83,312	67,677	72,356	65,478
Other taxation and		social security				50,670	42,652	44,676	40,639
Obligations	under finance lease and hire
purchase	contracts					10,013	9,587	10,013	9,587
Other creditors						69,691	68,110	53,108	54,865
Accruals and deferred				income		498,684	361,144	493,638	355,535
						1,002,030	801,557	963,451	778,491
						Group	Group	Company	Company
						2021 f.	2020	2021f	2020
Deferred income at			1 September		2020	311,770	337,855	311,770	333,274
Resources	deferred		during the year			459,051	311,770	459,051	311,770
Amounts released		from previous			periods	(311„770)	(337,855)	(311,770)	(333,274)
						459,051	311,770	459,051	311,770

			Group	Group	Company	Company
			2021	2020	2021	2020
					E
Bank loans			951,838	782,965	951,838	782,965
Net obligations		under finance lease and hire
purchase	contracts		15,820	25,833	15,820	25,833
			967,658	808,798	967,658	808,798

					Group	Group	Company	Company
					2021	2020	2021	2020
					E	E		E
FINANCIAL		ASSETS
Financial	assets measured		at amortised	cost	1,882,238	1,132,915	2,075,192	1,480,570
					Group	Group	Company	Company
					2021f	2020 E	2021	2020
FINANCIAL		LIABILITIES
Financial	liabilities measured		at amortised
cost					1,510,637	1,298,585	1,472,058	1,275,519

Statement offunds
Statement offunds - current year
		Balance at 1			Balance at
		September			31August
		2020	Income	Expenditure	2021
UNRESTRICTED FUNDS
General Funds		3,751,975	3,447,910	(3,226,968)	3,972,917
The Downs School Association		30,112	20,204	(11,842)	38,474
Downs School Enterprises	Limited	(284,055)	661,994	(569,517)	(191,578)
		3,498,032	4,130,108	(3,808,327)	3,819,813
RESTRICTED FUNDS
Donations			3,156	(656)	2,500
Bursary			1,653	(1,653)
			4,809	(2,309)	2,500
TOTAL OF FUNDS		3,498,032	4,134,917	(3,810,636)	3,822,313

		Balance at			Balance at
		1September			31August
		2019	Income	Expenditure	2020
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

Analysis	of n	et assets between funds -current	year
			Restricted	Unrestricted	Total
			funds	funds	funds
			2021 E	2021 f	2021 E
Tangible	fixed	assets		3,823,357	3,823,357
Current	assets		2,500	1,966,144	1,968,644
Creditors	due	within one year		(1,002,030)	(1,002,030)
Creditors	due	in more than one year		(967,658)	(967,658)
TOTAL			2,500	3,819,813	3,822,313

Analysis	of n	et assets between funds - prior year
			Unrestricted	Total
			funds	funds
			2020	2020
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)
			3,498,032	3,498,032

					Group	Group
					2021	2020
					f.
	Net income	for the	year (as per Statement	of Financial Activities)	324,281	225,329
	ADJUSTMENTS FOR:
	Depreciation	charges			215,690	217,101
	Dividends, interests		and rents from investments		(451)	(2,972)
	Loss/(profit)	on the	sale offixed assets		(888)
	Decrease in	stocks			243	5,489
	Increase in debtors				(7,344)	(6,215)
	Increase/(decrease)		in creditors		174,281	(75,309)
	Interest paid				15,077	10,154
	NET CASH	PROVIDED BYOPERATING ACTIVITIES			720,889	373,577
23.	Analysis of	cash and cash equivalents
					Group	Group
					2021	2020
						E
	Cash in hand				1,751,845	1,030,318
	TOTAL CASH AND		CASH EQUIVALENTS		1,751,845	1,030,318

				Cash
		At 1		inflowe	Repayment	Finance
		September		from net	of	lease	At 31
		2020	Cash flows	borrowings	borrowings	repayments	August 2021
			E	f.		E	E
Cash	at bank
and	in hand	1,030,318	721,527				1,751,845
Debt due within
1 year		(120,949)		(25,000)	(766)		(146,715)
Debt due after 1
year		(782,965)		(225,000)	56,127		(951,838)
Finance leases		(35,420)				9,587	(25,833)
		90,984	721,527	(250,000)	55,361	9,587	627,459

Operating le	Operating le	ase commitments
At 31 August		2021 the Group	and	the	Company	had commitments to		make	future minimum	lease
payments	under non-cancellable		operating		leases as	follows:
						Group	Group	Company Company
						2021	2020		2021	2020
						f'			f.
Not later than		1 year				20,892	27,720		20,892	27,720
Later than	1 year and not later than 5			years		5,518	26,410		5,518	26,410
						26,410	54,130		26,410	54,130

The following	was a subsid	iary undertaking of	iary undertaking of	the Company:	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	subsidiary	for the year were:
Name				Income	Expenditure		Profit/(Loss)		Net assets
				E			/ Surplus/		F
							(Deficit) for
							the year
								E
Downs School Enterprises		Limited		661,994		(569,517)		92,477	(191,577)