2023-08-31-accounts - Millfield

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REPORT OF THE GOVERNING BODY
INDEPENDENT ALIDITOR'S REPORT	23
CONSOLIDATED STATEMENTS OF FINANCIAL ACTIVITIES	26
BALANCE SHEETS	27
CONSOLIDATED CASH FLOW STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS	29
GOVERNORS, ADVISORS AND KEY STAFF

Year		Lower	Lower			Lower	Middle			Upper Middle	Upper Middle				Upper
		ean	Medhan		Mean		Me	dhan	Mean		Median		Mean		Median
	Male	Female	Male	Female	Male	Female	Male	Female	Male	Female	Male	Female	Male	Female	Male	Female
2023	1081	10.96	1089	11.11	12 86	12.73	12.75	12.28	22 12	27 69	21 61	22 79	43 70	40.69	40.07	37.72
2022	9 63	9.76	9 47	9.90	12.l}6	11.75	11.50	11.30	22.06	22.29	20.98	21.25	41 36	38.88	37.88	36.56
2021	8.88	9 00	8.95	8.97	1096	10.68	1065	10.58	19.92	21.39	18.57	20.40	43 37	41.03	41 12	38.43

Reserves as at 31August:	Reserves as at 31August:		2023	2022
		Note	E million	E million
Total Funds		17	60.8	50.4
Less: Restricted	Funds	17	(5 9)	(0 7)
Unrestricted Funds		17	54,9	49.7
Less: unrestricted	tangible fixed assets	10	(56.6)	(56,9)
Free Reserves			(1.7)	(7.2)

UK Greenhouse gas emissions	UK Greenhouse gas emissions	UK Greenhouse gas emissions	and	energy use data for the	energy use data for the	energy use data for the	1September	2022	1September 2021
period							to 31August	2023	to 31August 2022
Energy consumption		used to calculate emissions				(kWh)	20,720,211	I&wh	20,937,218 kWh
Sco e 1emissions	in	metric tonnes		CO2e
Gas consumption							2,145 tonnes	CO2e	2,114tonnes CO2e
Oil consumption							571tonnes CO2e		528 tonnes CO2e
LPG consumption							289tonnes C02e		208 tonnes CO2e
Owned transport	—minibuses						202 tonnes CO2e		169tonnes CO2e
Total scope 1							3,207 tonnes	CO2e	3,019 tonnes CO2e
Sco e 2 emissions	in	metric tonnes		CO2e
Purchased Electricity							903tonnes CO2e		898tonnes CO2e
Sco e 3emissions	in	metric tonnes		CO2e
Business travel in	employee-owned			vehicles			14tonnes CO2e		4tonnes CO2e
Total gross emissions		in metric	tonnes CO2e				4,124tonnes	CO2e	3,921 tonnes CO2e
Tonnes CO2e per	pupil/staff						1.63tonnes CO2e		1.66tonnes CO2e
Breakdown ofrefri	erantemissions			includin	com	arisonwith	revious ear.
							2022/23		2021/22
Refrigeration Gases
At September each year							2022/23		2021/22
Staff (Full time &	Part time*)						736		682
Pupils							1,795		1,763
Totals							2,513		2,445

			Unrestricted	Restricted	Total	Tota I
			Funds	Funds	2023	2022
		Note	E'000	E'000	E'000	E'000
Income from:
Charitable Activities:
Fees receivable			54,259		54,259	50,432
Other educational			4,498		4,498	3,758
income
Other Trading Activities:
Other fees	and external		3,051		3,051	2,188
hiring
Investments			555	105	660
Subsidiary	trading		1,096		1p096	1,024
income
Donations, grants and legacies			2	388	390	375
Other income			104		104	102
Total Income			63,565	493	64,058	57p879
Expenditure on:
Charitable Activities			(53,280)	(30)	(53,310)	(50,481)
Raising Funds:
Other fees	and external		(2,916)		(2,916)	(2,405)
hiring
Subsidiary	trading		(851)		(8511	(837)
expenditure
Fundraising			(258)	(47)	(305)	(131)
Finance and Other Costs			(477)		(477)	(367)
Total Expenditure		7	(57,782)	(77)	(57,859)	(54,221)
Net income			5,783	416	6,199	3,658
Other Recognised Gains:
Re-measurement ofthe	net defined	20	(554)		(554)	4,473
benefit pension liability
(Loss) on investment assets		11		(115)	(115)
Transferred in		26		4,825	4,825
Net Movement in Funds			5,229	5126	10,355	8,131
Total Funds Brought Forward			49,684	730	50,414	42,283
Total Funds Carried Forward		17	54,913	5,856	60,769	50,414

							~Grou		~Com
						Note	2023	2022	2023	2022
							E'000	E'000	E'000	E'000
Fixed Assets
Tangible fixed assets						10	56,596	56,947	56,590	56,938
Investments						11	5,138		325	325
							61,734	56,947	56,915	57,263
Current Assets
Stocks						12	479	476
Debtors						13	1,295	1,420	1,156	1,286
Cash at bank and	in	hand					29,597	20,036	29,334	20,033
							31,371	21,932	30,490	21,319
Creditors; amounts		falling due		within	one		(21,457)	(18,710)	(21,462)	(18,627)
year
Net Current Assets							9,914	3,222	9,028	2,692
Total Assets add	Current		Assets				71,648	60,169	65,943	59,955
Creditors: amounts than one year		falling due		after more			(9,808)	(8,689)	(9,808)	(8,689)
Net Assets Excluding		Pension		Liability			61,840	51,480	56,135	51,266
Defined benefit pension			liability			20	(1,071)	(1,066)	(1,071)	(1,066)
Net Assets							60,769	50,414	55,064	50,200
Funds
Unrestricted				General			55,984	50,750	55,398	50,536
funds
				Pension		20	(1,071)	(1,066)	(1,071)	(1,066)
				reserve
						17	54,913	49,684	54,327	49,470
Restricted funds						17	5,856	730	737	730
Total Funds							60,769	50,414	55,064	50,200

					2023	2022
				Note	6'000	E'000
Operating Activities
Cash generated from operations				21	5,490	4,846
Investing	Activities
Interest	received			6	660
Payments to acquire investments				11	(2,577)
Receipts	from sale ofinvestments				1,641
Purchase	oftangible fixed assets			10	(5,423)	(3,089)
Proceeds	on sale oftangible fixed assets				47	34
Net cash	used in Investing Activities				(5,652)	(3,055)
Financing Activities
Repayment of borrowings						(654)
Interest	paid					(13)
Receipts	from new advance fee contracts			16	9,767	7,752
Advanced	fees repaid			16	(44)	(65)
Net cash	generated from Financing	Activities			9,723	7,000
Change in cash and cash equivalents		in year			9,561	8,791
Cash and	cash equivalents at beginning		ofthe year		20,036	11,245
Cash and	cash equivalents at end of	the	year		29,597	20,036
Relating	to:
Bank balances included in cash at bank and in hand					29,597	20,036
Analysis	ofmovements in net cash				Cash
				2022	flows	2023
				6'000	E'000	6'000
Cash at bank and in hand				20,036	9,561	29,597
Total cash and cash equivalents				20,036	9,561	29,597
Total				20,036	9,561	29,597

			Straight	Line
			Basis %
Freehold	land
Freehold	property			2 —4
Extensions	and improvements	to buildings		10
Fixtures, fittings and equipment				15
Computers			33 1/s
Motorised	plant and vehicles			15
Assets under construction

2.	Net Income
											2023	2022
											E'000	f'000
	Net Income	is stated		after charging:
	Auditor's remuneration				for:
		External Audit (Company							E43,200 (2022:E40,230))		59	40
		Taxation - compliance						services to the Company		and its subsidiaries	5	2
	Depreciation	of	tangible		fixed	assets					5,770	5,519
	Operating lease		costs								170	174
	Profit on disposal oftangible					fixed		assets			(43)	(33)
	Stock
		Amounts		expensed to				cost ofsales			532	514
	Interest payable
		Loan	interest									13
		Net interest			on the net			defined benefit pension		liability	34	100
		Interest on fees in				advance					118	81
3.	Fees Receivable
											2023	2022
											f'000	f'000
	School fees										62,613	58,551
	Less; Scholarships										(2,556)	(2,828)
	Bursaries										(3,543)	(3,108)
	Other	concessions									(2,255)	(2,183)
											54,259	50,432
4.	Other Educational		Income
											2023	2022
											f'000	f'000
	Registration	and	acceptance fees								357	325
	Travel, School trips, examination						fees		and other charges to	students	4,141	3,433
											4,498	3,758
5.	Donations, Grants		and	Legacies
											2023	2022
											f'000	E'000
	Donation income										390	375
6.	Other Income
											2023	2022
											f'000	f'000
	Bank interest	and	income		from	investments					660
	Interest on overdue fees										35	30
	Rents received										69	72
											764	102

Analysis of Expenditure
		Staff		Deprec	2023	2022
		costs	Other	-iation	Total	Tota I
		E'000	E'000	E'000	E'000	E'000
Charitable activities:
Teaching costs		23,259	3,783	604	27,646	25,596
Welfare		3,419	6,272	112	9,803	8,765
Premises		1,725	3,903	4,571	10,199	10,313
Support costs ofSchooling		3,218	1,888	480	5,586	5,717
Governance costs			76		76	90
Total Charitable Activities		31,621	15,922	5,767	53,310	50,481
Raising Funds:
Ancillary fees and external	hiring	1,318	1,598		2,916	2,405
Subsidiary trading expenditure		197	651	3	851	837
Fundraising		164	141		305	131
Finance and other costs			477		477	367
Total Expenditure		33,300	18,789	5,770	57,859	54,221
Prior year Analysis of Expenditure
		Staff		Deprec	2022	2021
		costs	Other	-iation	Total	Total
		E'000	E'000	E'000	E'000	E'000
Charitable activities:
Teaching costs		21,763	3,346	487	25,596	24,360
Welfare		3,101	5,571	93	8,765	6,835
Premises		1,576	4,200	4,537	10,313	9,132
Support costs ofSchooling		3,434	1,886	397	5,717	4,337
Governance costs			90		90	82
Total Charitable Activities		29,874	15,093	5,514	50,481	44,746
Raising Funds:
Ancillary fees and external	hiring	1,217	1,188		2 405	1310
Subsidiary trading		204	628	5	837	591
Fundraising		67	64		131	119
Finance and other costs			367		367	273
Total Expenditure		31,362	17,340	5,519	54,221	47,039

NOTES TO THE FINANCIAL STATEME for the year ended 31August 2023	NOTES TO THE FINANCIAL STATEME for the year ended 31August 2023	NTS
8. Employee Information
		2023	2022	2023	2022
		Group	Group	Company	Company
		Number	Number	Number	Number
The average number	of persons
(full-time equivalent)	employed
during the year was:
Teaching and coaching		255	253	255	253
Administration and support		392	364	387	357
		647	617	642	610
The average number	of persons
employed by the group during the
year was:		1,046	976	1,024	954
Staff costs (for the above persons)		f'000	f'000	f'000	f'000
Wages and salaries		27,659	26,052	27,482	25,870
Social security costs		2,448	2,265	2,436	2,251
Defined contribution	pension costs	3,193	3,045	3,184	3,036
		33,300	31,362	33,102	31,157
Aggregate employee costs of key
management personnel	(including
salary, benefits, pension
contributions and national
msurance)		677	590	677	590

	2023	2022
	Number	Number
E60,001 —E70,000	37	42
E70,001 - E80,000	32	22
E80,001 - E90,000	8	5
E90,001 - E100,000	4	4
E100,001 - E110,000		1
E110,001 - E120,000		1
E140,001 - E150,000		1
E150,001 - E160,000
E250,001 — E260,000
E270,001 —E280,000

				Extensions
			Assets	and	Fixtures
			under	improve-	Fittings		Motorised
		Freehold	construct-	ments to	and		Plant and
		Property	ion	buildings	Equipment	Computers	Vehicles	Tote I
		E'000	E'000	E'000	E'000	E'000	E'000	E'000
Cost
At 15ept	2022	76,907	295	30,735	6,656	2,574	790	117,957
Additions			1,858	1,584	1,347	606	28	5,423
Transfers			(295)	165	120	10
Disposals				(1,317)	(716)	(449)	(97)	(2,579)
At 31Aug	2023	76,907	1,858	31,167	7,407	2,741	721	120,801
Depreciation
At 1Sept	2022	34,388		19,120	4,792	1,996	714	61,010
Charge for year		1,574		2,755	828	577	36	5,770
Disposals				(1,318)	(713)	(449)	(95)	(2,575)
At 31Aug	2023	35,962		20,557	4,907	2,124	655	64,205
Net book	value
At 31Aug	2023	40,945	1,858	10,610	2,500	617	66	56,596
At 15ept	2022	42,519	295	11,615	1,864	578	76	56,947
Tangible	Fixed	Assets (Company)
				Extensions
			Assets	and	Fixtures
			under	improve-	Fittings		Motorised
		Freehold	construct-	ments to	and		Plant and
		Property	ion	buildings	Equipment	Computers	Vehicles	Tota I
		E'000	E'000	E'000	E'000	E'000	E'000	E'000
Cost
At 1Sept	2022	76,907	295	30,735	6,651	2,518	763	117,869
Additions			1,858	1,584	1,347	606	28	5,423
Transfers			(295)	165	120	10
Disposals				(1,317)	(716)	(449)	(76)	(2,558)
At 31Aug	2023	76,907	1,858	31,167	7,402	2,685	715	120,734
Depreciation
At 1Sept	2022	34,388		19,120	4,787	1,949	687	60,931
Charge for year		1,574		2,755	828	574	36	5,767
Disposals				(1,318)	(713)	(449)	(74)	(2,554)
At 31Aug	2023	35,962		20,557	4,902	2,074	649	64,144
Net book	value
At 31Aug	2023	40,945	1,858	10,610	2,500	611	66	56,590
At 1Sept	2022	42,519	295	11,615	1,864	569	76	56,938

Fixed Asset Investments	Fixed Asset Investments	Fixed Asset Investments
						Group		Company
						2023	2022	2023	2022
Investment	Portfolio					E'000	E'000	E'000	E'000
Transferred	in					4,277
Additions at		cost				2,577
Disposals at	market value					(1,641)
Net (loss) on		revaluation				(115)
Gains/ (losses) on foreign differences				exchange		(8)
Net increase		in cash deposits				48
Market value		at 31August		2023		5,138
Group Undertakings
Interest in group undertakings					at cost			325	325
Total Investments						5,138		325	325
The Company		had the following			subsidiary	undertakings,	at the year-end,	all with the common	registered
office on page		49:
			Miiifieid			Millfield	Millfield	Millfield	Millfield
			Overseas			School	Foundation	Overseas	School
			Limited			Enterprises		Limited	Enterprises
						Limited			Limited
				2023		2023	2023	2022	2022
Nature of
business			Dormant			Service	Service	Dormant	Service
Company number			08339295			01553104	0637056	08339295	01553104
Proportion of
nominal value of
issued shares				100%		100%	100%	100/	100%
held by the
Company
Country of			England			England	England	England	England
incorporation
Results for
Subsidiaries	as at
the 31August
				E'000		E'000	E'000	E'000	E'000
Net assets						597	5,433		539
Turnover						1,810	957		1,593
Expenses						(1,510)	(349)		(1,354)
Profit						300	608		239
Distribution						(243)			(61)
Net Profit for						57	608		178
financial year

tocks
			Group		Company
			2023	2022	2023	2022
			f'000	f'000	f'000	f'000
Goods	for	resale	479	476

			Group		Company
			2023	2022	2023	2022
			f'000	f'000	f'000	f'000
Trade debtors			797	943	697	856
Other debtors			93	55	93	55
Prepayments			405	422	366	375
			1,295	1,420	1,156	1,286
reditors: amounts	falling due within one year
			Group		Company
			2023	2022	2023	2022
			f.'000	f'000	f'000	f'000
Amounts received under advance fee scheme (see note 16) Amount due to subsidiary			8,664	6,569	8,664 120	6,569 31
Trade creditors			1,924	1,689	1,826	1,587
Taxation and social	security costs		750	742	750	742
Other creditors			1,584	1,953	1,584	1,945
Accruals and deferred		income	1,759	1,664	1,742	1,660
School fees paid in	advance		5,892	5,272	5,892	5,272
School fee deposits	held		884	821	884	821
			21,457	18,710	21,462	18,627

					Company
			2023	2022	2023	2022
			f'000	f'000	f'000	f'000
Amounts scheme	received under advance fee (see note 16)		2,556	1,898	2,556	1,898
School fees deposits		held	5,535	4,730	5,535	4,730
Accruals	and deferred	income	1,717	2,061	1,717	2,061
			9,808	8,689	9,808	8,689

he unused balance ofthe advance is repayable up e applied as follows:	on request. It is intended that the advanc	e fees will
	2023	2022
	f'000	f'000
Over one year:
Within 1to 2 years	1,149	959
Within 3—5 years	976	730
After 5 years	431	209
	2,556	1,898
Within one year	8,664	6,569
	11220	8467

ear were	:
				2023	2022
				f'000	f'000
Balance	at 1September			8,467	7,033
New contracts				9,767	7,752
Amount	accrued	to contracts		119	81
				18,353	14,866
Amounts	utilised	in the payment	offees to the School	(7,089)	(6,313)
Refunds	offees	paid in advance		(44)	(86)
Balance	at 31August			11,220	8,467

		Balance 1				Other	Balance
		September	Transfer			recognised	31August
		2022	In	Income	Expenditure	gains/(losses)	2023
		E'000	f'000	f'000	f'000	E'000	f'000
Unrestricted	Funds:
	General	50,750		63,565	(58,331)		55,984
	Pension reserve	(1,066)			549	(554)	(1,071)
		49,684		63,565	(57,782)	(554)	54,913
Restricted	Funds:
	Scholarships
	8 Bursaries		4,825	282	(48)	(115)	4,944
	Sports
	Equipment	107					107
	Fund
	Other Funds	623		211	(29)		805
		730	4,825	493	(77)	(115)	5,856
Total Group		50,414	4,825	64,058	(57,859)	(669)	60,769

			Balance	1				Balance
			September				Other recognised	31August
			2021		Income	Expenditure	gains/(losses)	2022
			f'000		f'000	f'000	f'000	f'000
Unrestricted		Funds:
		General	47,437		57,506	(54,193)		50,750
		Pension reserve	(6,022)			483	4,473	(1,066)
			41,415		57,506	(53,710)	4,473	49,684
Restricted	Funds:
		Sports
		Equipment		104	6	(3)		107
		Fund
		Other Funds		764	367	(508)		623
				868	373	(511)		730
Total Group			42,283		57,879	(54,221)	4,473	50,414

—Company
			Balance 1			Other	Balance at
			September			recognised	31August
			2022	Income	Expenditure	gains/(losses)	2023
			f'000	f'000	f'000	f'000	f'000
Unrestricted		Funds:
		General	50,536	62,653	(58,066)	275	55,398
Pension reserve			(1,066)		549	(554)	(1,071)
			49,470	62,653	(57,517)	(279)	54,327
Restricted	Funds:
		Sports Equipment	107				107
		Fund
		Other Funds	623	213	(206)		630
			730	213	(206)		737
Total Company			50,200	62,866	(57,723)	(279)	55,064
			Balance 1			Other	Balance at
			September			recognised	31August
			2021	Income	Expenditure	gains/(losses)	2022
			f'000	f'000	E'000	f'000	f'000
Unrestricted		Funds:
		General	47,401	56,482	(53,441)	94	50,536
Pension reserve			(6,022)		483	4,473	(1,066)
			41,379	56,482	(52,958)	4,567	49,470
Restricted	Funds;
		Sports Equipment Fund	104		(3)		107
		Other Funds	764	367	(508)		623
			868	373	(511)		730
Total Company			42,247	56,855	(53,469)	4,567	50,200
Restricted		Funds

Allocation o	fGroup Net Assets
		Fixed assets	Net current	Long term	Pension	At 31
		and	assets/	liabilities	reserve	August
		investments	(liabilities)			2023
		f'000	f'000	f'000	f'000	f'000
Unrestricted	funds:
	General	56,596	9,196	(9,808)		55,984
	Pension reserve				(1,071)	(1,071)
Restricted funds
	Sports Equipment		107			107
	Fund
	Other Funds	5,138	611			5 749
Total Group	as at 31August 2023	61,734	9,914	(9,808)	(1,071)	60,769

year ende	d	31August 20	23
					Net	current				At 31
			Fixed	assets	assets/			Long term	Pension	August
			E'000		(liabilities)			liabilities	reserve	2022
					E'000			E'000	E'000	E'000
Unrestricted		funds:
		General		56,947		2,492		(8,689)		50,750
		Pension reserve							(1,066)	(1,066)
Restricted	funds
		Sports Equipment					107			107
		Fund
		Other Funds					623			623
Total Group		as at 31August	2022	56,947		3,222		(8,689)	(1,066)	50,414
Capital Commitments
					Group				Company
					2023			2022	2023	2022
					E'000			000	E'000	E'000
Contracted		but not provided	as at 31August		679			544	679	544

e year ended 31August 2	023
						2023	2022
						E'000	E'000
Statement offinancial position
Fair value ofscheme assets						12,194	14,446
Present value ofdefined benefit obligation						(13,265)	(15,512)
Net deficit in scheme						(1,071)	(1,066)
Changes in the defined benefit obligation
Defined benefit obligation at start		of period				15,512	21,080
Interest cost on defined benefit obligation						636	363
Benefit paid						(789)	(669)
Actuarial (gain)/loss						(2,094)	(5,262)
Defined benefit obligation	at end	ofperiod				13,265	15,512
Changes in the fair value ofscheme assets
Fair value ofscheme assets	at start	of period				14,446	15,058
Interest income on scheme	assets					602	263
Return less interest income	on scheme assets					(2,648)	(789)
Contributions by the employer						583	583
Benefits paid						(789)	(669)
Fair value ofscheme assets	at end	ofperiod				12,194	14,446
Total expense recognised in expenditure
Net interest on net defined	benefit	liability				34	100
Past service cost
Expenditure charged in year						34	100
Total amount recognised in the statement				of	financial activities
Return less interest income	on scheme assets					(2,648)	(789)
Actuarial (loss)/gain on liabilities						(423)	(144)
Change in assumptions						2,517	5,406
Re-measurement (loss)/gain	recognised		in	the SOFA		(554)	4,473
Assets
Target return						7,059	7,451
Property							1,103
Insurance annuities						56	62
Cash and net current assets						121	164
Investment grade bonds						1,803	2,098
LD I						3,155	3,568
Fair value ofscheme assets						12,194	14,446
Actual return on scheme assets over period						(2,046)	(526)
Reconciliation offunded status
Opening deficit						(1,066)	(6,022)
Employer contribution						583	583
Charge recorded in SOFA						(34)	(100)
(Loss)/Gain recorded in statement		offinancial			activities	(554)	4,473
Closing deficit						(1,071)	(1,066)

						2023	2022
Main financial assumptions						so pa	%pa
Discount rate						5.3	4.2
Price inflation:
—RPI						3.3	3.5
- CPI						2.5	2.7
Deferred pension increases:
—Pensions accrued to 5/4/09						2.5	3.6
- Pensions accrued from 6/4/09						2.5	3.6
Pension increases in payment:
-GMPs accrued from 6/4/88						3.3	3.0
—Non-GMPs accrued to	31/8/05					3.0	3.3
- Pension accrued from	1/9/05					2.3	2.3
Mortality assumptions	and	life expectancies				2023	2022
Expected future lifetime	from age 65:					Years	Years
—Male currently aged 65						21.9	21.8
- Female currently aged	65					24.3	24.1
-Male currently aged 45						22.9	22.8
—Female currently aged	45					25.5	25.3
Reconciliation of Net Income to net cash			generated		from operations
						2023	2022
						f'000	6'000
Net Income						6,084	3,658
Adjustments for:
Depreciation oftangible	fixed assets					5,770	5,519
Defined benefit pension	scheme adjustment					(583)	(583)
Net loss on investments						74
Working capital transferred		in from Millfield		Foundation		527
Interest receivable						(660)
Interest payable						152	194
Gain on sale oftangible	fixed assets					(43)	(33)
Operating cash flows before		movements	in	working	capital	11,321	8,755
Increase in stocks						(3)	(161)
Decrease in debtors						125	(43)
Increase in creditors						1,136	2,609
Advance fees applied						(7,089)	(6,314)
						(5,831)	(3,909)
Cash generated from operations						5,490	4,846

eases, as	follo	ws:
				Other		Motor Vehicles
				2023	2022	2023	2022
				6'000	6'000	6'000	6'000
Amounts	due	within	one year	16	23	117	117
Amounts	due	in two	to five years	15	20	200	317

Related Party Transactions
Transactions between the	School and	its subsidiary,	Millfield	School Enterprises	Limited	and	Millfield
Foundation are disclosed below:
					2023		2022
Millfield Enter rises Limited					6'000		E'000
Purchases ofgoods in year					714		569
Rents received					33		33
Amounts owed to related parties at year end					49		31
Gift Aid received					243		61
Millfield Foundation
Donations paid to Millfield	Foundation				500
Contribution from Millfield	Foundation	for Bursaries			186

Prior year Consolidated	St	atem	ent of Fina	ncial Activitie	s by Fund
					Unrestricted	Restricted	Total
					Funds	Funds	2022
				Note	6'000	6'000	6'000
Income from:
Charitable Activities:
Fees receivable					50,432		50,432
Other educational			income		3,758		3,758
Other Trading Activities:
Other fees		and	external		2,188		2,188
hiring
Subsidiary	trading		income		1,024		1,024
Donations and legacies					2	373	375
Other Income					102		102
Total Income					57,506	373	57,879
Expenditure on:
Charitable Activities					(49,970)	(511)	(50,481)
Raising Funds:
Other fees		and	external		(2,405)		(2,405)
hiring
Subsidiary	trading				(837)		(837)
expenditure
Fundraising					(131)		(131)
Finance and Other Costs					(367)		(367)
Total Expenditure					(53,710)	(511)	(54,221)
Net (expenditure)					3,796	(138)	3,658
Other recognised Gains:
Re-measurement ofthe	net	defined		21	4,473		4,473
benefit liability
Net Movement in Funds					8,269	(138)	8,131
Total Funds Brought Forward					41,415	868	42,2&3
Total Funds Carried Forward				18	49,684	730	50,414

	Value	Transferin
	Reported by	recognised
	transferring
	charity
	E'000	E'000
FIXED ASSETS
Investments	4,277	4,277
CURRENT ASSETS
Debtors due within one year	485	485
Cash at bank in hand	84	84
CREDITORS
Creditors due within one year	(21)	(21)
FUNDS
Restricted income funds	4,825	4,825