2022-08-31-accounts

					Page
Reference and administrative		details ofthe Company,	its Governors	and advisers
Governors'	report
Independent	auditors' report	on the financial statements			13 - 16
Consolidated	statement offinancial activities				17
Consolidated	balance sheet				18
Company balance sheet					19
Consolidated	statement ofcash flows				20
Notes to the	financial statements				21-42

Governors	Governors		Mr M.A. Burchfield,	Mr M.A. Burchfield,	Chair	Chair	(resigned 31 August 2022)
			Mrs H.M. Archer	(resigned 31 March 2022)
			Mr C.R.G. Biggin
			MrJ.M. Collard
			Mr D.J.Ferris
			MrJ.A. Isaacs, (Chair			from 1 September 2022)
			Mr T.P. Lloyd-Jones
			Mrs H. Mack
			Mr T.P. Matthews
			Mr B.J. Northover
			Mr T. O' Sullivan
			Mr T. Tainton (appointed				28 February 2022)
			Mrs R. Tear (resigned			31	August 2022)
			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		Mr.J.Barclay
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	Committee							Mr M.A. Burchfield (Chair) (resigned 31August 2022)	Mr M.A. Burchfield (Chair) (resigned 31August 2022)	Mr M.A. Burchfield (Chair) (resigned 31August 2022)	Mr M.A. Burchfield (Chair) (resigned 31August 2022)
											MrJ.Barclay (appointed	01 September 2021)
											MrJ.M. Collard
											Mr D.J.Ferris
											Mrs D. Isaachsen
											MrJ.A. Isaacs
											Mr B.J.Northover
											Mr T.Tainton (appointed	28 February 2022)
											Mr C.N.I.Tuttiett
Nursery	Committee										MrJ.M. Collard (Chair)
											Mrs H.M.Archer (resigned 31 March 2022)
											MrJ.Barclay (appointed	01 September 2022)
											Mrs D. Isaachsen
											Mr M.A. Newman
											Dr R.S.Thomson
											Mrs R. E.Thornton
Remuneration			Committee								Mrs R.E.Thornton (Chair)
											MrJ.Barclay (appointed	01 September 2022)
											Mr M.A. Burchfield (resigned 31 August 2022)
											Mrs D. Isaachsen
Education		Committee									Mrs R.Tear (Chair) (resigned 31August 2022)
											Mrs D. Isaachsen
											Mr T. O' Sullivan
Risk and	Regulatory				Committee						Mr B.J. Northover (Chair)
											Mrs H.M. Archer (resigned 31 March 2022)
											Mr J.Barclay (appointed	01 September 2021)
											Mrs D. Isaachsen
											Mrs R.Tear (resigned 31	August 2022)
											Dr. R.S.Thomson
Governors'		Development					Committee				MrJ.A. Isaacs (Chair)
											Mr M.A. Burchfield (resigned 31August 2022) Mr D.J.Ferris (appointed 01 June 2022)
											Mrs D. Isaachsen
											Mr B.J.Northover
Health and Safety				Committee							MrJ.Barclay (Chair) (appointed 01 September			2021)
											MrJ.M. Collard Mrs D. Isaachsen
											Mrs R.E.Thornton
											Mr C.N.I.Tuttiett
Downs School Association							Committee				Mrs. C. Williams (Chair) (resigned 31August		2022)
											Mrs K. Northover (Secretary) (resigned 31August 2022)
											Mrs G. Hagger (Treasurer)
The day-to-day			running			of the		School		is	delegated to the Headteacher and the Bursar, as key					management
personnel,		via the		Scheme of				Governance. They are supported				by other teaching	members			of the	Senior
Leadership		Team		being		the Deputy			Head Pastoral and Deputy Head Academic.
The remuneration				ofkey		management				personnel is set by the Board, with the policy			objective of			ensuring		that
they are provided				with		appropriate			incentives to encourage enhanced performance					and are,		in a fair		and
responsible		manner,			rewarded			for	their		individual contributions to the Company's		success.		Delivery		of	the

			Restricted	Unrestricted	Total	Total
			funds	funds	funds	funds
		Note	2022	2022	2022f	2021
Income from:
Donations and legacies			942	8,773	9,715	18,701
Charitable activities				3,909,062	3,909,062	3,369,689
Other trading activities				856,058	856,058	689,469
Investments				559	559	451
Other income				1,831	1,831	56,607
Total income			942	4,776,283	4,777,225	4,134,917
Expenditure on:
Raising funds				635,539	635,539	529,519
Charitable activities			3,207	3,857,560	3,860,767	3,281,117
Total expenditure			3,207	4,493,099	4,496,306	3,810,636
Net movement in funds			(2,265)	283,184	280,919	324,281
Reconciliation offunds:
Total funds brought	forward		2,500	3,819,813	3,822,313	3,498,032
Net movement in funds			(2,265)	283,184	280,919	324,281
Total funds carried	forward		235	4,102,997	4,103,232	3,822,313

				2022		2021
		Note
Fixed assets
Tangible assets		13		3,863,190		3,823,357
				3,863„190		3,823,357
Current assets
Stocks		15	30,163		18,693
Debtors		16	236,012		198,106
Cash at bank and	in hand		1,649,356		1,751,845
			1,915,531		1,968,644
Creditors: amounts	falling due within one
year		17	(1,090,952)		(1,002,030)
Net current assets				824,579		966,614
Total assets less	current liabilities			4,687,769		4,789,971
Creditors: amounts	falling due after more
than one year		18		(584„537)		(967,658)
Total net assets				4,103,232		3,822,313
Charity funds
Restricted funds		20		235		2,500
Unrestricted funds		20		4,102,997		3,819,813
Total funds				4,103,232		3,822,313

				2022		2021
		Note				E
Fixed assets
Tangible assets		13		3,834,803		3,792,457
Investments		14		1		1
				3,834,804		3,792,458
Current assets
Stocks		15	24,419		17,417
Debtors		16	450,594		500,074
Cash at bank and	in hand		1,502,657		1,635,051
			1,977,670		2,152,542
Creditors: amounts	falling due within one
year		17	(1,050,151)		(963,451)
Net current assets				927,519		1,189,091
Total assets less	current liabilities			4,762,323		4,981,549
Creditors: amounts	falling due after more
than one year		18		(584,537)		(967,658)
Total net assets				4,177,786		4,013,891
Charityfunds
Restricted funds		20		235		2,500
Unrestricted funds		20		4,177,551		4,011,391
Total funds				4,177,786		4,013,891

					2022	2021
					F	F
Cash flows from operating		activities
Net cash used in operating	activities				581,991	720,889
Cash flows from investing		activities
Dividends, interests and rents from investments					559	451
Proceeds from the sale oftangible fixed			assets			1,776
Purchase oftangible fixed assets					(272,083)	(171,564)
Bank interest paid					(3,779)	(3,787)
Net cash used in investing		activities			(275,303)	(173,124)
Cash flows from financing		activities
Cash inflows from new borrowing						250,000
Repayments of borrowing					(383,802)	(53,637)
Repayments of hire purchase		loans			(10,013)	(11,311)
Interest paid on borrowings					(15,362)	(11,290)
Net cash (used in)/provided		by financing		activities	(409,177)	173,762
Change in cash and cash	equivalents		in	the year	(102,489)	721,527
Cash and cash equivalents	at the beginning			ofthe year	1,751,845	1,030,318
Cash and cash equivalents		at the end	of	the year	1,649,356	1,751,845
The notes on pages 21 to42		form part ofthese financial statements

		Restricted	Unrestricted	Total	Total
		funds	funds	funds	funds
		2022	2022	2022	2021
			f.
General Donations		942		942	10,421
The Downs School Association			8,773	8,773	8,280
		942	8,773	9,715	18,701
TOTAL 2021		4,809	13,892	18,701
INCOME FROM CHARITABLE ACTIVITIES
				2022	2021
				F	E
Gross fees receivable				4,021,129	3,648,968
Bursaries and scholarships				(514,182)	(521,899)
Income from rechargeable	expenditure			394,815	236,320
Registration fees				7,300	6,300
				3,909,062	3,369,689

		Unrestricted	Total	Total
		funds	funds	funds
		2022f	2022	2021f
Lettings		23,892	23,892	6,667
Other income		6,189	6,189	8,884
Fundraising	income	59,772	59,772	11,924
		89,853	89,853	27,475
TOTAL202	1	27,475	27,475

		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022	2021
		E	E
Nursery	income	766,205	766,205	661,994
TOTAL	2021	661,994	661,994

	Unrestricted	Total	Total
	funds	funds	funds
	2022	2022	2021
	E
Rental income	466	466	400
Bank interest	93	93	51
	559	559	451
TOTAL2021	451	451

Unrestricted	Total	Total
funds	funds	funds
2022	2022	2021
	E	E
1,831	1,831	56,607
56,607	56,607

					Unrestricted	Total	Total
					funds	funds	funds
					2022	2022	2021
						E	E
Fundraising		expenditure			36,066	36,066	7,602
TOTAL	2021				7,602	7,602
Expenditure		from non	charitable	trading activities
					Unrestricted	Total	Total
					funds	funds	funds
					2022	2022	2021
					F		E
Nursery	cost	ofsales			74,362	74,362	59,509
Nursery	administration		expenses		72,540	72,540	56,477
Interest	payable						100
Nursery	cost	ofsales staff costs			356,672	356,672	307,572
Nursery	administration		staff costs		78,621	78,621	82,170
Nursery	depreciation				17,278	17,278	16,089
					599,473	599,473	521,917
TOTAL	2021				521,917	521,917

	Activities
	undertaken	Support	Total	Total
	directly	costs	funds	funds
	2022 E	2022	2022f	2021
Education	2,760,188	1,100,579	3,860,767	3,281,117
TOTAL 2021	2,416,501	864,616	3,281,117

			Total	Total
		Education	funds	funds
		2022	2022	2021
			F	F
Staff costs		1,990,472	1„990,472	1,873,002
Depreciation		89,441	&9,441	90,565
Educational	supplies	253,993	253,993	141,532
Household	and welfare	14,053	14,053	9,990
Catering		356,382	356,382	257,905
Transport		55,847	55,847	43,507
		2,760,188	2,760,188	2,416,501

								Total	Total
							Education	funds	funds
							2022	2022	2021
							E
	Staff costs						428,747	428,747	336,868
	Depreciation						114,322	114,322	109,036
	Educational	supplies					39,926	39,926	29,773
	Other costs						77,188	77,188	39,765
	Premises costs						246,087	246,087	184,274
	Grounds maintenance						44,687	44,687	25,223
	Management	expenses					88,663	88,663	99,258
	Financing expenses						19,141	19,'I41	17,133
	Legal and professional						25,032	25,032	10,427
	Governance						16,786	16,786	12,859
							1,100,579	1,100,579	864,616
11.	NET INCOME/EXPENDITURE
								2022	2021
								E
	Depreciation	oftangible	fixed assets:
	-owned by	the charitable		group				221,041	215,690
	Fees payable	to the Company's			auditor	in respect of:
	Auditors' remuneration		-audit					12,850	12,050
	Auditors' remuneration		-other		services			5,965	410
	Operating lease rentals							20,892	27,720

		Group	Group	Company	Company
		2022	2021	2022	2021
			E		F
Wages and salaries		2,398,808	2,161,479	1,993,428	1,799,761
Social security costs		203,953	182,822	183,551	163,851
Employer contribution	to pension schemes	251,751	255,311	242,240	246,258
		2,854,512	2,599,612	2,419,219	2,209,870

		Group	Group	Company	Company
		2022	2021	2022	2021
		No.	No.	No.	No.
Teaching staff		50	50	50	50
Administrative	staff	56	49	29	27
		106	99	79	77

		Group	Group	Company	Company
		2022	2021	2022	2021
		No.	No.	No.	No.
Teaching staff		35	37	35	37
Administrative	staff	40	39	22	21
		75	76	57	58

Group	Group
2022	2021
No.	No.

					Other
	Freehold	Motor	Fixtures and	Computer	fixed
	property f	vehicles	fittings	equipment E	assetsf	Totalf
COST OR
VALUATION
At 1 September 2021	5,266,740	11,900	1,057,571	289,443	188,366	6,814,020
Additions	113,519		82,671	39,604	36,289	272,083
Disposais		(400)	(14,651)	(2,200)	(70,758)	(88,009)
At 31 August 2022	5,380,259	11,500	1,125,591	326,847	153,897	6,998,094
DEPRECIATION
At 1 September 2021	1,833,441	10,500	778,540	236,594	131,588	2,990,663
Charge for the year	101,473	700	73,606	33,113	12,149	221,041
On disposais		(400)	(11,735)	(1,646)	(63,019)	(76,800)
At 31August 2022	1,934,914	10,800	840,411	268,061	80,718	3,134,904
NET BOOK VALUE
At 31 August 2022	3,445,345	700	285,180	58,786	73,179	3,863,190
At 31August 2021	3,433,299	1,400	279,031	52,849	56,778	3,823,357

			Fixtures		Other
	Freehold	Motor	and	Computer	fixed
	property f	vehicles f	fittings F	equipment F	assets	Total E
COST OR VALUATION
At 1 September 2021	5,266,740	11,900	970,795	284,931	188,366	6,722,732
Additions	113,519		67,906	39,604	36,289	257,318
Disposals		(400)	(14,651)	(2,200)	(70,758)	(88,009)
At 31 August 2022	5,380,259	11,500	1,024,050	322,335	153,897	6,892,041
DEPRECIATION
At 1 September 2021	1,833,441	10,500	721,123	233,623	131,588	2,930,275
Charge for the year	101,473	700	56,840	32,601	12,149	203,763
On disposals		(400)	(11,735)	(1,646)	(63,019)	(76,800)
At 31August 2022	1,934,914	10,800	766,228	264,578	80,718	3,057,238
NET BOOK VALUE
At 31August 2022	3,445,345	700	257,822	57,757	73,179	3,834,803
At 31August 2021	3,433,299	1,400	249,672	51,308	56,778	3,792,457

	Investments
	in
	subsidiary
	companies
COMPANY	E
COST OR VALUATION
At 1 September 2021
AT 31AUGUST 2022
NET BOOK VALUE
AT 31AUGUST 2022
AT 31AUGUST 2021

		Group	Group	Company	Company
		2022	2021	2022	2021
			E
Cons	umables	30,163	18,693	24,419	17,417

		Group	Group	Company	Company
		2022	2021	2022	2021
					F
DUE WITHIN	ONE YEAR
Trade debtors		106,703	122,770	102,279	114,228
Amounts owed by Group undertakings				231,388	318,290
Other debtors			198		198
Prepayments	and accrued income	129,309	75,138	116,927	67,358
		236,012	198,106	450,594	500,074

						Group	Group	Company	Company
						2022	2021	2022	2021
							E	F
Bank loans						135,594	146,715	135,594	146,715
Payments	received		on account			130,868	142,945	130,868	142,945
Trade creditors						136,971	83,312	120,461	72,356
Other taxation and		social security				51,198	50,670	46,306	44,676
Obligations	under finance lease and hire
purchase	contracts					10,440	10,013	10,440	10,013
Other creditors						64,801	69,691	49,213	53,108
Accruals and deferred				income		561,080	498,684	557,269	493,638
						1,090,952	1,002,030	1,050,151	963,451
						Group	Group	Company	Company
						2022	2021	2022	2021
							E	E
Deferred income at			1 September		2021	459,051	311,770	459,051	311,770
Resources	deferred		during the year			513,192	459,051	513,192	459,051
Amounts released		from previous			periods	(459,051)	(311,770)	(459,051)	(311,770)
						513,192	459,051	513,192	459,051

			Group	Group	Company	Company
			2022	2021	2022	2021
Bank loans			579,157	951,838	579,157	951,838
Net obligations		under finance lease and hire
purchase	contracts		5,380	15,820	5,380	15,820
			584,537	967,658	584,537	967,658

			Group	Group	Company	Company
			2022	2021	2022	2021
			F	E
FINANCIAL ASSETS
Financial	assets measured	at amortised cost	1,770,124	1,882,238	1,850,389	2,075,192
			Group	Group	Company	Company
			2022	2021	2022	2021
			E		E
FINANCIAL LIABILITIES
Financial	liabilities measured	at amortised
cost			1,162,297	1,510,637	1,121,496	1,472,058

STATEMENT OF FUNDS	- CURRENT	YEAR
		Balance at 1			Balance at
		September			31August
		2021 F	Income E	Expenditure E	2022f
UNRESTRICTED FUNDS
General Funds		3,972,917	3,941,533	(3,756,867)	4,157,583
The Downs School Association		38,474	68,545	(87,051)	19,968
Downs School Enterprises	Limited	(191,578)	766,205	(649,181)	(74,554)
		3,819,813	4,776,283	(4,493,099)	4,102,997
RESTRICTED FUNDS
Donations		2,500	942	(3,207)	235
TOTAL OF FUNDS		3,822,313	4,777,225	(4,496,306)	4,103,232

STATEMENT OF FUNDS	- PRIOR YEA	R
		Balance at			Balance at
		1 September			31 August
		2020f	Income f	Expenditure f	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

ANALY	SIS O	F NET ASSETS BETWEEN FUNDS	- CURRENT YEAR
			Restricted	Unrestricted	Total
			funds	funds	funds
			2022 f	2022	2022 E
Tangible	fixed	assets		3,863,190	3,863,190
Current	assets		235	1,915,296	1,915,531
Creditors	due	within one year		(1,090,952)	(1,090,952)
Creditors	due	in more than one year		(584,537)	(584,537)
TOTAL			235	4,102,997	4,103,232

ANALY	SIS O	F NET ASSETS BETWEEN FUNDS	- PRIOR YEAR
			Restricted	Unrestricted	Total
			funds	funds	funds
			2021	2021	2021
			F
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)
			2,500	3,819,813	3,822,313

				Group	Group
				2022	2021
				E
Net income	for the	year (as per Statement	of Financial Activities)	280,919	324,281
ADJUSTMENTS FOR:
Depreciation	charges			221,041	215,690
Dividends, interests		and rents from investments		(559)	(451)
Loss/(profit)	on the	sale offixed assets		11,209	(8&8)
Decrease/(increase)		in stocks		(11,470)	243
Increase in	debtors			(37,995)	(7,344)
Increase in	creditors			99,705	174,281
Interest paid				19,141	15,077
NET CASH	PROVIDED BYOPERATING		ACTIVITIES	581,991	720,889

						Group	Group
						2022	2021
Cash	in	hand				1,649,356	1,751,845
TOTAL		CASH	AND	CASH	EQUIVALENTS	1,649,356	1,751,845

		At 1		Repayment	Finance
		September		of	lease	At 31
		2021 f	Cash flows	borrowings F	repayments	August 2022 f
Cash at bank and in hand		1,751,845	(102,489)			1,649„356
Debt due within	1 year	(146,715)		11,121		(135,594)
Debt due after 1 year		(951,838)		372,681		(579,157)
Finance leases		(25,833)			10,013	(15,&20)
		627,459	(102,489)	383,802	10,013	918,785

Name				Income	Expenditure	Profit/(Loss)	Net assets I
					E	ISurplus/	(Liabilities)
						(Deficit) for
						the year
Downs	School	Enterprises	Limited	766,205	(649,181)	117,024	(74,553)