CHARITY NUMBER: 310633
COMPANY NUMBER: 00897432
MALTMAN'S GREEN SCHOOL TRUST LIMITED
(LIMITED B YGUARANTEE)
TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

MALTMAN'S GREEN SCHOOL TRUST LIMITED
(LIMITED BY GUARANTEE)
TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Governors. Officers and Advisors
Reference and Adminislralive Information
Structure, Govemance and Management
Objects, Aims. Objectives and Principle Aclniilies
Provision of Information to Auditors
Auditors
Our Ethos, Strategy and Policie5
Review of Achievements and Performance for the Year
Financial Review and Results for the Year
Future Plans
statement of Govemors, Responsibilib'es
10
Independent ALJditors' Report
11-14
Statement of Financial Activities
15
Balan￿ Sheet
16
Cash Flow Statement
17
Notes lo the Financial Statements
18-28

MALTMAN'S GREEN SCHOOL TRUST LIMITED
GOVERNORS, OFFICERS AND ADVISORS
GOVERNORS, OFFICERS AND ADVISORS
Governors
Mrs C M Bradley, MA Icantabl (retired as Chairman 1 December 20221
Mrs D Honey BA (Honsl (appointed as Chaiman 1 December 20221
Mr J Auslin, Msc {appoinled 1 December 20221
Mrs R Ahluwalia BA {Honsl, MA, MCIPD lappoinled 1 December 20221
Mr S Ahluwalia LLB (Honsl, LLM (Employment Lawl lappointed 1 December 20221
Mrv Balra Bcom (Hons), ICAI, MBA
Mrs C Beckwilh Bsc (Hons)
Mrs J Bond Bsc IHonsl. MRICS
Mr K Carson BA, MPhil IC8nlabl
Mrs C Gowers, BA (Honsl Oxon MA {Oxonl Iresigned 2 December 20221
Ms K Paynter Bed IHonsl, DipSpLD, MAIEdl
Mr D I Segall Esq, FCCA
Mr R G Simmons Esq, BA (Honsl, PGCE- History
Mrs D M Slarrs, MA (Honsl (Oxonl
The School Governors are also the Charity Trustees and the Company Directors.
They have all served in office throughout the year except where indicated.
Key management personnel
Hoadmlstress
Mrs J Walker Bsc (Hons). MA Ed. PGCE
Bursar
Mrs K O'shea BA (Hons), ACA
Company Secrgtary
Mrs Debbie Michael Irelired 31 January 20221. Mrs Sarah Beckwith lappoinled
1 February 20221
Registered Office
Maltman's Green School
Maltmans Lane
Gerrards Cross
Buckinghamshire
SL9 8RR
Auditors
Crowe U.K. LLP
Aquis House
49-51 Blagrave Street
Reading
Berkshire
RG1 1PL
Bankers
8ardays Bank PIC
16 High Street
High Wycombe
Buckinghamshire
HP11 2BG
Solicttors
Veale Wasborough Vizards LLP
Narrow Quay House
Narrow Quay
Bristol
BS14QA
Page 1

MALTMAN'S GREEN SCHOOL TRUST LIMITED
GOVERNORS, REPORT
The Governors, who are also charity Iruslees for the purposes of the Charities Act 2011. present their
annual report in compliance with both that Act and the Companies Act 2006. together with the financial
statements prepared under the laller Act, for the year ending 31 August 2022. The format and content of
the report and financial slalements comply with the Companies Act 2006, the Charities Act 2011 and the
Statement of Recommended Practice." 'Accounling and Reporting by Charities, SORP IFRS 1021.
REFERENCE AND ADMINISTRATIVE INFORMATION
Mallman's Green School Trust Limited Ilhe School) operates within the Memorandum and Articles of
Association, which was incorporated on 3rd February 1967 under Company number 897432 and Charity
registration number 310633. Under the constitution of the School, the guarantee of each member is limited
to£1.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng Document
The School is governed by the provision5 of the Memorandum and Articles of Association, which were last
amended in 2013.
Charity Govemance Code
The Board fully adopts the principles of the Charity Governance Code. The Objects, Aims, Objectives and
Principal Activities of the School are set out below, and these are made clear lo Governors at induction
and throughout their tenure. The Board has an effective leadership slruclure which regularly provides
strategic direction via Board meetings and sub-commillees. The Board is wholly dedicated lo the School
and acts in ils interest accordingly. The standards expected from a Board member are sel out al induction
and prior lo appointment Governors sign an annually reviewed Code of Conduct which has the Seven
Principles of Public Life al ils core.
Decision-making, risk and control are entirely functional and the Board strikes an ex￿lIent balance
between ensuring il 18 aware of operational matters without constraining the Headmistress and Bursar
from the ability lo make dynamic, day-lo-day decisions. Levels of delegation in financial mallers are clear
too, the School's tendering policy ensuring that high-value financial commitments are not entered into
wilhoLJI full Governor oversight and approval. Governors also regulady review the School's risk register
and are fully aware of the need lo manage all risk in as balanced a fashion as possible lo ensure future
viability of the School in delivering ils charitable purposes. The Board possesses an excellent balance of
skills and experience, and always seeks lo continue this through strong succession planning. Govornors
have backgrounds in corporate governan￿. business, finance, law, consultancy, property development,
marketing, IT and of course education.
Governors commit tremendous amounts of lime lo the School and aside, from formal meeting
reqLJirements, they regularly attend essential meetings on safeguarding and health and safety, as well as
SUPF)Orting other School events such as the Christmas Fayre and Centenary celebrations. They also carry
out regular management checks on supplier payments, payroll and policy documents. The Board
communicates well with stakeholders whether that be staff via allendance al INSET days, pupils through
involvement in regular learning walks, or parents, most notably in the very rare event of a complaint or
concern requiring Governor support andlor inlervenlion.
Governlng Body
Govemors are elected al a meeting of the Board of Governors on the basis of nominations received lo the
Board's specifications regarding eligibility, personal competence, specialist skills and local availability. The
Governors also consider recommendations from the Headmistress and other sources on the same basis.
The Governors have no personal or financial interests in the School, noi do they receive any fees or other
remunaration for their services.
Page 2

MALTMAN'S GREEN SCHOOL TRUST LIMITED
GOVERNORS, REPORT (CONTINUED)
Governors serve for a minimum of three years and a maximum of nine years. Al the Annual General
Meeting. held on 29 November 2021, Mrs Debbie Slarrs and Mrs Joanna Bond having both served for
more than nine years, did retire bul did offer themselves for re-election and were duly re-elected on an
annual rotation.
Twstee Training
Governors attend local governor groups. schoollcharity conferences and governance training sessions. as
appropriate lo their individual needs.
Organisational Managèment
The Govemors meet al least three limes a year to determine the general policy of the School and review
ils overall management and control, for which they are legally responsible. The work of implementing most
of the School's policies is carried out by the Finance and Property Development Sub-committee which
meets lemily before each meeting of the Full Govemors, Board. The Public Benefit and Bursaries Sub-
committee meets termly lo consider the areas of public benefit offered by the School and to review requests
for bursaries, lo consider applications for support and financial assistance for existing and future pupils
and lo make recommendations to the Full Governors, Board. The Curriculum Sub-committee also meets
lermly lo discuss the curriculum and educational developments across the School, lo ensure that the
School meets its purpose of providing a high quality of education for 811 of ils PLJpils. The day-lo-day
running of the School is delegated lo the Headmislress and the Bursar, supported by other teaching
members of the Senior Management Team. Governors allend the Eco Council, and Health and Safety
committee meetings, which meet lermly or as required, with the laller reviewing the adherence of the
School to relevant policies and considering any incidents arising. Governors are also involved in regular
learning walks and assist in the appointment of senior staff. The remuneration of key management
personnel is sel by the Board. with the policy objective of providing appropriate incentives lo encourage
enhan￿d performance and of rewarding them fairly and responsibly for their individual contributions to the
School's success.
Organisational Structure and Relationships
The Headmistress is an active member of the IAPS for the promotion and maintenance of preparatory
school standards generally and also lakes part in peer group studies at national, regional and local level
for the evaluation of quality and performance improvement methods.
The School aims lo foster links with the wider community, within planning conslrainls, through the sharing
of Ils facilities and expertise. The School pool and sports facilities for example are used by many local
clubs.
OBJECTS, AIMS, OBJECTIVES AND PRINCIPAL ACTIVITIES
The objects of the School, in accordance wllh the Memorandum and Articles of Associalioll. are to acquire,
carry on and develop Maltman's Green School and the curtilage, within which il 15 Sltuated. and to acquire
and carry on in the United Kingdom any school for the education of children.
In selling the objectives and planning activities the Govemors have given careful consideration to the
Charity Commission's general guidance on public benefit and in particular to its supplementary public
benefit guidance on advancing education and on fee-charging.
Strategic Aim and Intended Effect
The School's strategic aim is to benefit the public by the provision and advancement of preparatory
education for girls independent of the Stale system. The School aims for high standards academically,
culturally and in sport. Excellence is encouraged and celebrated. High standards are expected in the
behaviour of PLJpils and promoted in their relationships with each other, with staff. and with the wider
community.
Page 3

MALTMAN'S GREEN SCHOOL TRUST LIMITED
GOVERNORS, REPORT (CONTINUED)
Objectivos for the Year
The Governors, main objective continued to be to provide a broad and stimulating education within
secure and caring environment where each girl can discover and develop her own talents and slrenglhs.
As well as educating pupils lo achieve the high academic standards as they move lo a wide range of senior
schools, the School continues lo provide a wide range of extra-curricular activities which aim to foster
personal qualities such as self-reliance, delem)ination, confidence and respect for others. The Governors
sought lo promote the Bursary Scheme and widen access for those in the local community seeking
admission who would not otherwise be able lo send girls lo the School. A good number of bursary
applications were received with awards being made lo deserving applications that met the means testing
requirements.
In addition, the Governors continued lo consider development plans as part of a review of the facilities
needed to meet the growing needs of the School community in the foreseeable future. The main emphasis
has been on ensuring that current facilities continue lo be in good order and are maintained lo a high
standard. The majority of facilities spend contiriues lo be direGled lo addressing the findings of a school
site conditioning survey.
The School again supported a number of charities throughout the year. encouraging pupils to participate
in fund-raising activities whilst learning about different causes.
The Governors remain committed to sharing School facilities and expertise with other local slate schools,
particularly through the use of the swimming pool, and by hosting local educational events attended by
pupils and staff from the maintained sector.
Prlnclpal Activty
The School's principal activity continues lo be the provision of a Day School for 2 - 11 year-old girls.
Volunteers
The FOMG (Friends of Mallman's Greenl helped with the School community's social events, fundraising
and cultural activities by providing many hours of voluntary service during the year, and the Governors
would like lo record their appreciation of the Continued and valuable support of this work.
PROVISION OF INFORMATION TO AUDITORS
Each of the persons who are Govemors al the time when this Governors, report is approved has confirmed
Ihal..
la) so far as that Governor is aware, there is no relevanl audit information of which the School's
auditors are unaware. and
(bl that Governors have taken all the steps that they ought to have taken as a Governor in order lo
be aware of any relevant information needed by the School's auditors in connection with preparing
their report and to establish that the School's auditors are aware of that infomialion.
AUDITORS
In accordance with Section 485 of the Companies Act 2006, a resolulion proposing the reappolnlment of
Crowe UK LLP as auditors of the School Trust will be put lo the Annual General Meeting.
Page 4

MALTMAN'S GREEN SCHOOL TRUST LIMITED
STRATEGIC REPORT
OUR ETHOS, STRATEGY AND POLICIES
The Governors are resFx)nsible for setting a strategy for achieving the objectives they have sel. The focus
of this strategy is on the development of our pupils, their continued high levels of academic and co-
curricular achievement and lo further widen access lo the education the School provides.
Our Stratègy
The Governors aim lo widen pupil access lo the School by ensuring, within financial constraints, that a
proportion of the pupils who would not otherwise attend the School can benefit frorn the education il
provides thereby continuing the School's tradition of providing public benefit and lo meet the Charity
Commission's requirements from lime to lime.
Our Ethgs
The School welcomes pupils from all backgrounds and lo deliver lo them a broad and slruclureLI academic,
physical. social and moral education. The School is committed lo continuing the activities it currently carries
out lo benefit children other than pupils al the School.
Grant-making and Access Pollcy
The School operates a Bursary scheme lo support, on a means-lested basis. pupils that would not
otherwise be able lo attend the School with grants available for up to loo0￿ of fees. The Governors
continue lo allocate monies lo a designated fund lo contribute towards the cost of future Bursaries. The
balances retained for the cost of future Bursaries and financial support al 31 August 2022 were..
Restricted fund £Nil - Funds re￿iVed were transferred lo fund the bursaries awarded
Designated bursary fund £590,707
For the financial year 2021122 the amount awarded in the form of Bursaries was £96,160.
Charitable Fundraising
The School ensures that ils fundraising is compliant with the recognised standards of fvndraising sel out
in the Charities (Proleclion and Social Inveslmenl} Act 2016. The School raises funds for additional
equipment through the Friends of Maltman's Green IFOMG} which is comprised purely of parent
volunteers. FOMG run internal events lo raise funds, in almost all circumstances via parents of the School.
For example, the Christmas Fayre, Parents, Quiz night and an annual camping event known as Mallfesl.
On occasion. external organlsalions pay for setting up a stall al the Christmas Fayre.
The School ￿lebrated ils Centenary year in 2018 and The 100 Club was set up to raise additional funds.
The scheme is managed internally by the Bursar and Head of Marketing. Funds continue lo be raised and
in 2021122, a total £1.600 was assigned to the designated fund for 2021122 Bursary awards. The School
did not use professional or commercial fund raising entities for any of these activities. The School was not
subject lo an undertaking to be bound by any voluntary scheme for regulating fund-raising in 2021122. As
a consequence, there are no examples of failure lo comply with a particular scheme or standard. The
School monitors FOMG through its appointed liaison, and the Headmistress and Bursar meet periodi¢ally
with the Chair of the FOMG lo discuss fundraising activity and agree the best approach. The School
received no complaints regarding ils fundraising activities in 2021122, and experience shows that using a
parent body lo fundraise almost predominantly from current and past parents limits any potential for
intrusion or concern from the wider public.
Safeguarding Pollcy
The School is committed lo safeguarding and promoting the welfare of the pupils and expects all staff and
volunteers to share this commitment.
Paoe 5

MALTMAN'S GREEN SCHOOL TRUST LIMITED
STRATEGIC REPORT (CONTINUED)
REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR
Operational Performance of thg School
Academic Achievement. For the 2021122 academic year, our giA8 achieved a record 81Vo qualification rale
in the Bucks Secondary Transfer Tesl111 +1. These girls were eligible lo join local grammar schools such
as Beaconsfield High School and Dr Challoner's High School. Our gids also received offers lo excellent
independent senior schools including The Royal Masonic, Wycombe Abbey, Berkhamsled School, Sl
George's School Ascot and Queen Anne's School Caversh8m. Twenty scholarships were offered lo
leading independent schools, including nine academic scholarships, all-rounder scholarships, seven
sport scholarships, one drama scholarship and one music scholarship.
ort. With life starting to gel b2¢k lo normal in school, il was lovely lo start the year with an extremely
busy extra-curricular schedule. We were still able to run inler-house events and organised House football
and cross country in the Autumn term, house games and house netball in the Spring term and the Summer
is always finished by our annual Sports Day. Although we had a few fixtures cancelled due lo COVID
outbreaks in different year groups, we had the opportunity lo compete in matches in football, netball and
alhlelics during the these afternoons. We were lucky enough to welcome some visitors on-site this year,
Tracey Neville IEx-England Netball coach) came and gave maslerclasse5 for our Prep girls, and
Charlie Fogarty IMBEI came and gave the girls an assembly about overcoming his brain injury lo be a
professional footballer, before giving the girls a coaching session.
We saw the addition of Dance and Lacrosse lo our curriculum, allowing the girls to experience even more
sports. The Year 6 girls have been given the opportunity to become 'Sport Captains, and to take
responsibility in their sport for the younger year groups. All of Year 6 were trained lo be Sport Leaders, an
accredited award, allowing them to learn the selup, coaching and evaluation skills you need to teach sport
sessions. Towards the end of the Summer term. we allended some cricket and tennis fixtures against
other schools. We held our annual Gymnastics Show, with over 100 girls performing lo their parents. We
even managed lo get Wimbledon tickets again, and look the U11 tennis squad lo watch some amazing
tennis.
mnaslics. As in swimming, we have created our own Maltman's Gym Award Scheme which is based
on the British Gytnnaslics award. 11 has 16 levels, allowing the girls from Reception to Year 6 to work
towards a certrficale. Annual trials for squads were held in July, allowing and all squad girls competed in a
variety of competitions held by ISGA and BSGA. In the Autumn, we attended the IAPS and ISGA
championships. The teams did extremely well, U9- Gold, U10- Bronze and U11- Silver on the Saturday
and U9- Bronze and U11- Gold on the Sunday! In March, our squad girls went to Tormead lo compete at
the ISGA Championships, another SUC￿$sful weekend after all their hard work, ug- Bronze, U10- Silver
and U11- Gold. Later in the Spring, the U11 girls went lo the BSGA Finals and BSGA Acrobatics Finals,
with the girls taking Gold making them National Championsl Finishing off the year, the U11 girls went to
the BSGA Championships and came 2nd in floor and vault, 1 Et in tumbling, 4th in acro and 2nd in the acro
group. Another amazing year for gym at MGS.
Swimmin
We are still holding Nursery and Little Mallies swimming each week, allowing the girls lo build
their confidence in the pool and learn the basics of kicking and moving through the water. The girls are
awarded Iheir'Duckling Award, throughout their swimming lessons, lo show their progress in the water.
After 18 months with no swimming galas, il was great to be able to have the girls back in the pool and
parents being able lo speclale. The school hosted three separate Division 10 League Galas. Each gala
had 5 visiting schools and over 150 participants. We have also started lo organise more friendly galas with
local schools, to allow our Club and Training level girls lo experience a competitive swimming gala. In the
Spring, we hosted the IAPS Swimming Qualifiers for children aged U10-U13. 5 Schools came lo the event
with their lop swimmers, allowing the finalists to compete al the London Aquatics Centre. 5 girls qualified
for the ESSA Swimming Southeast Division and swam at Woodside Stadium.
Tennis. We are lucky enough lo be able lo offer tennis throughout the year, allowing girls to progress well
in their tennis skills. The girls are offered tennis matches in the summer against other schools and the U11
squad girls even get a th'p lo Wimbledonl
Page 6

MALTMAN'S GREEN SCHOOL TRUST LIMITED
STRATEGIC REPORT (CONTINUED)
Netball. All the girls from Year 3-6 experien￿ netball in their oames afternoons and we offered extra-
curricular clubs for performan￿ and training levels. We were fortunate enough lo welcome ex-England
Coach Tracey Neville in the September and January, allowing our Year 3-6 girls lo experience coaching
from a professional. In the Spring, the U11 A squad went to the IAPS tournament held al St Georges,
the girls played so many m8lches and came 41h overall.
Musi
Drama and Dance. 11 was wonderful lo have all of the girls singing and making music together
again this school year. Members of the Upper Choir had the opportunity lo perform at the annual
Christmas Fun Night in Chalfont St Peter. ABRSM examinations were only held across the school year
th over 50 girls entered. Instruments examined were singing, piano, violin, flLJle, harp and guitar, with
grades covered from Prep to Grade 4.
Speech and Drama exams through LAMDA were undertaken in the Spring term Mth exceptional results.
In Year 3 and 4, 22 students entered the Entry Level in Speaking, Verse and Prose examination with 15
Distinctions and 7 Merits awarded. Level 1 Grade 1 Speaking, Verse and Prose, 35 students were entered
with 14 Distinctions and 19 Merits awarded. In Year 5 and 6, Acting Level 1 Grade 1 examination, 12
entries with 8 Dislinclions, 3 Merits and 1 Pass awarded. Acting Level 1 Grade 2 examination, 16 entries
with 4 Merits and 12 Distinctions awarded.
Also in the Spring term, the Year 4 girls performed an amazing production of Roald Dahl's Revolting
Rhymes. After several years of reslriclions, il was truly a pleasure lo see the girls on stage singing again.
In the Summer term, Year 6 absolutely mesmerised the school with their energetic performance of Matilda
The Musical.
Ballet, Modern and Street Darn￿- these activities continue lo appeal lo the girls with 100 children from
Little Mallies upwards participating in Ballet, Modern or Street Dance.
Finally, the School continues lo provide an excellent outdoor curriculum. 11 holds the Eco-schools green
flag and recognises that sustainability is an essential parl of all aspects of life within Ihe School.
Public Bengfit
The School positively encourages the girls lo become involved in a wide range of charrf(ies. During the
year, their collective efforts and those of their parents raised a fantastic £6,111 for a variety of causes,
whilst al the same lime building a strong understanding of the importance of charitable giving. Charities
supporteé included..
BBC Children In Need raised £1,549
Comic Relief raised £700
Thames Valley Adventure Playground raised £728
Jeans for Genes Day raised £800
Over £750 raised for Roald Dahl's Marvellous Children's Charity
As well as a huge donation of harvest goods for the London & Slough Run which suppoils
homeless people.
The School continued lo make ils facilities available for wider use locally, including weekly use of the
swimming pool by Sl Joseph's Primary School. In addition. swimming clubs {Swimwell, Beaconsfield
Swimming, Amersham Swimming Club and Chalfonl Otters) continued lo use the facility.
FINANCIAL REVIEW AND RESULTS FOR THE YEAR
The School had a loss of income over expenditure of £92,401 being -1.9.￿ of total income which was due
lo the fact that a significant amount of revenue spend. which had been deferred from the previous year
due lo COVID-19, was undertaken.
Page 7

MALTMAN'S GREEN SCHOOL TRUST LIMITED
STRATEGIC REPORT (CONTINUED)
The School's Balance Sheet shows net assets of £6,174,783. The School's assets are sufficient lo fulfil its
obligations. The School has Continued lo perform a detailed review of its cash flow forecasts and future
budgets to ensure that il remains financially robust.
Reseryes Policy
The School's unrestricted funds stood at £6,174,783 at the year-end. After deducting the carrying value of
tangible fixed assets held for the charity's own use, adjusted for borrowings, the freely available reserves
were £1,784,385 which is considered lo be more than sufficient to meet operational needs. The Governors,
policy is lo continue lo maintain reserves lo al least £450,0001 by means of annual operating surpluses
and lo invest in developing the School's facilities lo meet the School's ch2ri1able objects. Whilst the
Governors are aware that reserves are currently well alK)ve this level they feel that this is fully justified as
a prudent approach given the present financial threats facing the sector and the constant need lo build
funds for future capital projects.
FUTURE PLANS
The School wntinues to maintain good pupil numbers in a competitive market. The eslablishmenl of the
pre-school in January 2017 has helped ensure sustainable numbers al the bottom end of the School too,
and a healthy pull through lo Year 6.
The Governors continue lo promote the Bursary Scheme through local advertising and the School website.
The School offers places across Reception lo Yoar 6 and Governors have ensured that eligibility crileri8
have kept pace with fee rises by ensuring per￿ntage awards give the bast F)ossible fil with parent average
salaries. The School continues lo look lo widen the public benefit on offor lo the local and wider community
in a way that matches the School's aims and encourages support of local community initiatives. The
Governors will continue lo review the School's facilities lo consider what further developments might bring
benefits lo the wlder-community.
Risk Management
The Governors examine the major risks that the School faces each financial year when preparing and
updating the future operating and development plans. They monitor the effectiveness of the system of
internal controls and other viable means, including insurance cover where appropriate, by which those
risks already identified can best be miligaled. The Governors are responsible for risk management in terms
of financial viability as well as the operational areas of Safeguarding (Children's Act}, Health and Safety.
Food Hygiene, Employment Law and Human Rights.
Prlncipal Risks and Uncertainties
The Governors continually monitor Ihe financial viability of the School against the overall economic climate
to identify any future potential financial risks. Both income and costs are closely analysed lo ensure future
Performan￿ is tracked according lo plan and any changes implemented quickly and efficiently.
The School's approach lo Safeguarding is another key area for Governors lo monitor. The Governing body
appointed Mrs Deborah Slarrs as ils Safeguarding Governor. The Safeguarding Governor allends School
regularly to discuss safeguarding mallers with the Deputy Head and Designated Safeguarding Lead, Mrs
Rachel Gaynor and will attend INSET. She is also kept sighted on the rare occasion that Safeguarding
issues arise and is also fully involved in the appropriate Safeguarding training. The Safeguarding Governor
undertakes an annual audit of safeguarding policy and practice across th8 School, with findings fed back
to the Head and Board of Governors
Based upon one month's OpEx rOunde￿p.
Page 8

MALTMAN'S GREEN SCHOOL TRUST LIMITED
STRATEGIC REPORT (CONTINUED)
Health and Safety is an area that requires close attention. Such risks range from fire lo infrastructure and
School events. Whole school management, for example, the maintenance of policies and procedures, is
regulady reviewed. Included is the regular risk assessment of activities and facilities including an annual
review process. The Governing Body is satisfied that for all major risks identified, appropriate controls have
been pul in place and maintained lo miligale those risks adequately. It is recognised that systems can
provide only reasonable. and not absolute. assurance that all major risks have been managed.
This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006, was approved
by the Goveining Body of the Mallman's Green School Trust on 16 March 2023, including in their capacity
as company Directors approving the Strategic Report containe& therein, and is signed as aulhorised on its
behalf by:
D Honey
Chaiman of Govornors
Page 9

MALTMAN'S GREEN SCHOOL TRUST LIMITED
STATEMENT OF GOVERNORS, RESPONSIBILITIES
STATEMENT OF GOVERNORS, RESPONSIBILITIES
The Governors Iwho are also directors of Mallman's Green School Trust Limited for the purposes of
company lawl are responsible for preparing the Governors, Annual Report and the financial statements in
accordance with applicable law and United Kingdom Generally AC￿pIed Accounting Practice Iunited
Kingdom Accounting Slandards}-
Company law requires the Trustees lo preparefinancial slalemenls for each financial year. Under company
law the Trustees musl not approve the financial slalements unless they are satisfied that they give a true
and fair view of the slate of affairs of the charitable company and of the incoming resources and application
of resources, including the income and expenditure. of the charitable company for that period. In preparing
these financial slalemenls, the Trustees are required lo..
select suitable accounting policies and then apply them consislenlly.,
observe the methods and principles in the Charities SORP.,
make judgments and estimates that are reasonable and prudent.,
slate whether applicable UK accounting standards have been followed, subject lo any material
departures disclosed and explained in the financial stalemenls,. and
prepare the financial statements on the going concern basis unless il is inappropriate to presume that
the charitable company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and
explaSn the charitable company's Irans2¢1ions, disclose with reasonable accuracy al any lime the financial
position of the charitable company and enable them lo ensure that the financial slalemenls comply with
the Companies Act 2006 and the provisions of the charity's constitution. They are also responsible for
safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.
Page 10

A Crowe
Crowe U.K. LLP
Gh8rter8dA¢¢ouniants
Member ofcrowe Glob
Aquis House
49-51 Blagrave Street
Reading
Bert¢shirg RG11PL. UK
Tel +44101118 959 7222
F8x +44101118 958 4640
¥v¥vw.uow$.fy).uk
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
MALTMAN'S GREEN SCHOOL TRUST LIMITED
Opinion
We have audited the financial statements of Maltman's Green School Trust Limited for the year ended 31
August 2022 which comprise slaternenl of financial activities, the balance sheet and notes to the financial
stslemenls, including significant accounting policies. The financial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the charitable company's affairs as at 31 August 2022 and
of ils incoming resources and application of resources, including ils income and expenditure for
the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing {UKI IISAS IUKII and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial slalemenls section of our report. We are independent of the
charitable company in accordance with the ethical requirements that are relevant lo our audit of the
financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions rolating to going Concèrn
In auditing the financial statements, we have concluded that the Iruslees, use of the going concern basis
of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not idenlrfied any material un¢ertainties re121ing lo events
or Conditions that, individually or collectively, may cast significant doubt on the charitable company's ability
to continue as a going concern for a period of at least twelve months from when the financial statements
are aulhorised for issue.
Our responsibilrties and the responsibilities of the Iruslees with respect to going concern are described in
the relevant sections of this report.
Page 11

•, Crowe
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
MALTMAN'S GREEN SCHOOL TRUST LIMITED (CONTINUED)
Other informatlon
The trustees are responsible for the other information Gonlained within the annual report. The other
information comprises the information included in the annual report, other than the financial statements
and our auditor's report Ihereon. Our opinion on the financial slalemenls does not cover the other
information and, except lo the exlenl otherwise explicitly staled in our report, we do not express any form
of assurance conclusion Ihereon.
Our responsibility is lo read the other information and. in doing so, consider whether the other information
is materially inconsistent with the financial slalements or our knowledge obtained in the audit or otherwise
appears lo be materially misslaled. If we identify such materi81 inconsistencles or apparent material
misslalements, we are required lo determine whether this gives rise lo a material misslatemenl in the
financial statements themselves. If, based on the work we have performed, we condude that there is a
material misslalemenl of this other information, we are requlred to report that fact.
We have nothing lo report in this regard.
Oplnlon on other matter prescribed by the Companies Act 2006
In our oplnion based on the work Ljndertaken in the course of our audit
the infomialion given in the Trustees, Annual Report for the financial year for which the finanaal
statements are prepared is consistent with the financial slalemenls,. and
The Trustee's Annual Report have been prepared in accordance with applicable legal
requirements.
Matters on which we are required to report by exception
In light of the knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified material misslalemenls in the trustee5' annual report.
We have nothing lo report in respect of the following matters in relation lo which the Companies Act 2006
requires us to report lo you rf. in our opinion..
adequate accountlng records have not been kept., or
the financial statements are not in agreement with the accounting records and returns-, or
certain disclosures of Iruslees, remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit.
Page 12

Crowe
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
MALTMAN'S GREEN SCHOOL TRUST LIMITED (CONTINUED)
Responsibilitles of Trustees
As exp18ined more fully in the trustees, responsibilib'e5 Statement sel out on page 10, the trustees (who
are also the directors of the charitable company for the purposes of company lawl are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for
such inlemal control as the Iruslees determine is necessary lo enable the preparation of financial
slalements that are free from material misslalemenl, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's
ability lo continue as a going concern, disclosing, as applicable, mallers related lo going concern and using
the going concern basis of accounting unless the Iruslees either intend to liquidate the charitable company
or lo ce8se operations, or have no realistic alternative but lo do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial slalemenls as a whole are
free from material misstalemenl, whether due lo fraud or error, and to issue an auditor's report that includes
our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit
conducted in accordance with ISAS IUKI will always delecl a material misstalemenl when il exists.
Misslalements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of
these financial statements.
Irregularities, including fraud, are instsnces of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, lo detect material misslalemenls in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud is detailed below..
Extent to which tha audlt was considered capable of detectlng irregularitles, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified
and assessed the risks of material misslalemenl of the financial statements from irregularities, whether
due lo fraud or error, and discussed these between our audit team members. We then designed and
performed audit procedures responsive lo those risks, including obtaining audit evidence sufficient and
appropriate lo provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charitable
company operates, focusing on those laws and regulations that have a direct effect on the determination
of material amounts and disclosures in the financial slalements. The laws and regulations we considered
in this context were the Companies Act 2006. Charities together with the Charities SORP IFRS 102).
We assessed the required compliance with these laws and regulations as part of our audit procedures on
the ￿lated financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the
financial slalemenls but compliance with which might be fundamental lo the charitable company's ability
lo operate or to avoid a material penalty. We also considered the opportunities and incentives that may
exist within the charitable company for fraud. The laws and regulations we considered in this context
We￿ The Education Ilndependent School Standards) Regulations 2014, Health and Safety, General
Data Protection Regulations, Safeguarding and Food Standards. Auditing standards limit the required
audit procedures to idenlrfy non-compliance with these laws and regulations lo enquiry of the Governors
and other management and inspection of regulatory and legal correspondence, if any.
Page 13

## **Crowe A** 

## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MAL TMAN'S GREEN SCHOOL TRUST LIMITED (CONTINUED)** 

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of nursery income, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Finance and General Purposes Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, sample testing on nursery income, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, 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 located 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, and to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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. 


Janette Joyce 

Senior Statutory Auditor 

For and on behalf of 

**Crowe U.K. LLP** 

Statutory Auditor 

**Aquis House** 

## **49-51 Blagrave Street** 

## **Reading** 

RG1 1PL 

20 March 2023 

Page 14 



MALTMAN'S GREEN SCHOOL TRUST LIMITED
(LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORA TING AN INCOME AND EXPENDITURE ACCOUNn
FOR THE YEAR ENDED 31 AUGUST 2022
Notes
Unrestrlct¢d
Funds
2022
Restricted
Funds
2022
Total
2022
Total
2021
Inwme from..
Voluntary income
Donations
2,200
11,960
14,160
13,261
Charitable activities
School fees receivable
Other ancillary income
Income from generated
funds
Other income
Investments
4.500.813
275,954
4,500,813
275.954
4, 784,709
149.440
104,848
104,848
90.471
Total Incomg
4 897 439
5041404
Expenditure on:
Charitable activitles
School operating costs
Raising funds
Finance costs
4,988,123
11.960
5,000.083
4, 787.369
Total oxpenditurg
4 989 840
5 001 800
4 788 836
NET
INCOMEI{EXPENDITUREI
{92,401}
{92,401}
252,568
Funds brought fornard
at I Sgptember 2021
184
Fund$ carrled forward
at 31 August 2022
15116
The notes on pages 18 to 28 form part of these financial statements
Page 15

MALTMAN'S GREEN SCHOOL TRUST LIMITED
(LIMITED BY GUARANTEE)
BALANCE SHEET
31 AUGUST 2022
COMPANY REGISTRATION NUMBER: 00897432
2022
2021
Notes
FIXED ASSETS
Tangible assets
3.702,261
3.726, 188
CURRENT ASSETS
Stocks
Debtors
Cash al bank and in hand
7.242
1,353,790
3200111
5, 785
7.202,390
3222516
4,561,143
4.430,691
CREDrroRS: Amounts falling due within
one year
13
2 088 621
7 889 695
NET CURRENT ASSETS
2 472 522
2 540 996
TOTAL ASSETS LESS TOTAL
LIABILITIES
6 174783
6 267 184
NET ASSETS
FUNDS
Unrestricted funds
General funds
Designated funds
Restricted funds
16
16
17
5.486,646
688,137
5,626,074
641,110
TOTAL FUNDS
These financial statements were approved and aulhorised for issue by the Board of Govemors and were
signed on ils behalf on 16 March 2023.
D Honey
Chalmian of Governors
The notes on pages 18 10 28 form part of these financial slalements
Page 16

MALTMAN'S GREEN SCHOOL TRUST LIMITED
(LIMITED BY GUARANTEE)
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2022
2022
2021
Cash flows from operatlng activities:
Nel (expenditure)fincome
Interest receivable
Interest payable
Depreciation of tangible assets
Ilncrease} in stocks
Ilncrease}Idecrease in debtors
Increaselldecreasel in creditors
Profil on disposal of fixed assets
192,401)
113,624)
252,568
(3,523)
296,504
11,457)
1151,4001
198.926
307,168
(242)
(16,917)
(272,833)
Net cash provided by operating activities
Cash flows from investing activtties:
Interest recelved
Payments 10 acquire 18nglble fixed assets
Receipts from sale of fixed assets
13,624
{272,577)
3,523
(82.850)
Net cash (used In) Investlng actlvltles
Cash flows from financing activities:
Repayments of loans
Interest payable
Net cash (used Sn> flnanc5ng actlvltles
Change in cash and Gash equivalents in the reporting period
122,405)
186,894
Cash and cash equivalents at 1 September 2021
3 222 516
3 035 622
Cash and cash oqulvalent$ at 31 August 2022
The notes on pages 18 to 28 form part of these financial statements
Pago 17

MALTMAN'S GREEN SCHOOL TRUST LIMITED
{LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
CHARITY INFORMATION
Maltman's Green School Trust Limiled's principal acts'vity continues lo be the provision of a day
school for 2 - 11-year-old girls. The incorporated charity (charity number 310633, company
number 008974321, is domiciled in the UK. The address of the registered office is MaSlman's Green
School. Maltmans Lane, Gerrards Cmss, Buckinghamshire, SL9 8RR.
STATEMENT OF ACCOUNTING POLICIES
The following accounting policies have been used consislenlly in dealing with items which are
considered material in relation lo the charitable company.
Accounting convontion
The financial slalemenls have been prepared in accordance with Accounting and Rerx)rling by
Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance wSlh the Financial Reporting Standard Spplicable in the UK and Republic of Ireland
{FRS 1021 (effective 1 January 20191- Charities SORP IFRS 102), the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Maltman's Green School Trust Limited meets the definition of a public benefit entity under FRS
102. Assets and liabilities are inltially recognised al historical cost or transaction value unless
Othe￿ISe slated in the relevant accounting pollcy nolelsl.
Management have produced financial models showing cash flows and future budgets, which have
subsequently been reviewed by the Board of Governors. As part of their normal risk management
process. the Governors have examined the major risks lo the School and the miligaling actions
both taken and available lo be taken. The Governors consider there are no material uncertainties
relating lo going concern and that the School has adequate resources lo continue its activities for
al least the twelve months lo 31 August 2024. Accordingly, they continue lo operate the going
concern basis in preparing the financial statements.
bl
Income
l incoming resources are included in the Statement of Financial Activities when the charitable
company is legally enlilled lo the income. receipt Is probable and the amount can be quanlrfied
with reasonable accuracy.
Grants are accounted for under the performance model as permilled by the Charity SORP. CJRS
grant income is therefore recognised on a slraighl line basis over the furlough period for each
relevant employee.
School fees
School fees represent amounts receivable, less any discounts given, for luilion and extra-curricular
acllvilles. less any bursary awards and financial support given. for the year ended 31 August.
Fees paid in advance of future education are carried fonNard as defe￿ed income.
Page 18

MALTMAN'S GREEN SCHOOL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
d)
Resources expended
Resources expended are accounted for on an accru￿5 basis as soon as a liability is considered
probable, discounted lo present value for longer term liabilities. Certain expenditure is apportioned
to cost categories based on the estimated amount attributable lo that activity in the year. The
irrecoverable element of VAT is included with the item of expense lo which il relates.
Governan¢e support costs inctude an apportionment of the salaries of the Head Teacher and
Bursar lo reflect the time incurred on slatulory governance issues.
Tangible fixed assets and deprgciation
Tangible fixed assets other than freehold land are staled al cost less depreciation. Depreciation
is provided at rates calculated lo write off the cost less eslimaled residual value of each asset over
its expected useful life. as follows'.-
Freehold land
School buildings & swimming pool
Junior gymnasium and parents, car park
Otjlbuildings, garages & fire alarms
Swimming pool hall fittings & roof
Computer equipment
Furniture, tools and equipment
Motor vehi¢les
Swimming pool plant & equipment
and 50/0 slraighl line
1 00/0 slraighl Ilne
200/y slraighl line
40/0 straight line
33.3Yo straight line
20019 straight line
250/0 straight line
50/0 straight line
The Governors are satisfied that the market value of the fixed assets is in excess ol Ihelr book
value. Tangible fixed assets are capilalised when the cost of each individual item exceeds £1,000
and the asset will have a life of more than twelve months. Items costing £1,000 or less are charged
as expenditure in the year of acquisition. A full -ye8r's depreciation is charged in the year of
purchase.
Pensions
The School contributes lo the Teachers, Pension Defined Benefits Scheme al rates sel by the
Scheme Actuary and advised lo the Board by the Scheme Administrator. The scheme is a mulli-
employer pension scheme and il is not possible lo identrfy the assets and liabilities of the scheme,
which are allribulable to the school. In accordance with FRS102 therefore, the scheme is
accounted for as a defined contribution scheme. Effective 1 September 2022, the School exited
Teachers, Pension Scheme and since that dale have been participating in a defined contribution
pension scheme with employer contributions dependent on the contribution made by teachers.
The School also conlribules lo a group personal pension scheme for non-leaching staff at 100/ty of
annual basic pay, and these contributions are accrued accordingly.
Unrestricted general funds
g)
These are funds which can be used in accordance with the charitable objects at the discrellon of
the directors.
h)
Restrleted funds
Income in restricted funds comprises donations received for the Bursary Fund which is used to
support, on a means lesled basis. pupils that would not olhetwise be able lo attend the School.
Page 19

MALTMAN'S GREEN SCHOOL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
Designated funds
The Governors make transfers to a designated fund that will be used to fund bursary awards in
future years. The Governors review claims for bursaries in respect of pupils who would not
otherwise be able lo allend the School, funding the fees from the relevant designated fund and
the cost of extra-curricular aclivilies, residential trips and other extras from the reslricled fund.
J)
Financial instrumonts
Basic financial instruments include debtors and creditors. Debtors and creditors are initially
recognised al transaction value and subsequently measured al amortised cost.
k)
Cash and cash equivalgnts
Cash is represented by cash in hand and deposits with financial institutions repayable without
penalty on noli¢e of not more than 24 hours. Cash equiv8lenls are highly liquid investments that
mature in no more than three months from the dale of acquisition and that are readily convertible
lo known amounts of cash with insignificant risk of change in value.
Deposits
The Governors have reviewed the contract terms under which Pupil fee deposits are held by the
school. Although under normal circumstances these will be repaid over future years when the
pupils complete their education at the school, pupils can leave al earlier dales. The school does
not therefore have an unconditional right lo relain the individual deposits for al least 12 months
after the balance sheet dale and, in line with the requiremen15 in FRS 102, the balance of the
deposits held at 31 August 2022 have been included within current liabilities. The prior year Pupil
fee deposits balance has been similarly represented.
JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF
ESTIMATION UNCERTAINTY
In the application of the charity's accounting policies, which are described in note 2 trustees are
required to make judgements, eslimales and assumptions about the carying values and the
remaining useful life of assets and liabilities that are not readily apparent from other sources. The
estimates and underlying assumptions are based on historical experience and other factors that
are considered lo be relevant. Actual results may differ from these estimates. The Governors
consider that there are no material judgements in applying accounting policies on key sources of
eslimalion uncertainly.
SCHOOL FEES
2022
2021
The School fee income comprises..
Gross fees
Less.. Total bursaries and allowance5
4.603,802
114949
4.903. 796
f31540
4.488.853
4,772,256
Add back.- Bursaries paid for by restricted funds
Page 20

MALTMAN'S GREEN SCHOOL TRUST LIMITED
{LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
OTHER ANCILLARY INCOME
2022
2021
Exam fees
Registration fees/ fees in lieu of noticel fee schemes
Clubsl extra-curricular activities
Tripsl events
Sundry equipment salesl commissions receivable
Other
Book fair
Income from FOMG
2.101
46,397
119,039
53.676
11.308
7,032
4,208
47.594
67,914
1, 193
9,t98
2.618
4.256
OTHER INCOME
Included within Other Income is £nil12021.' £36,369) in respect of the Coronavirus Job Retention
Scheme.
TOTAL RESOURCES EXPENDED
Staff costs
Deprgciatlon
Other
Total 2022
Charltable activities
School operating costs..
Teaching costs
Welfare
2,459,102
35,313
179,585
482,222
9,398
3.356
240,528
43,222
100,952
383,216
678,041
359.451
11,960
2,569,452
421.885
1,098,154
884,895
11,960
Eslablishmenl expenses
Support costs of schooling
Grants. awards and prizes
FOMG expenditure
3.156,222
296,504
1.547,357
5.000.083
Generated funds
Finance costs
Total resources expondod
Comparative 2021
Staff costs
Dgpreciation
Other
Total 2021
Charitablo a¢tivitles
School operating costs..
Teaching costs
Welfare
Establishment expenses
Support costs of schooling
Grants, awards and prizes
FOMG expenditure
2,380.895
28,150
157,526
498.988
9. 736
3,477
249, 179
44,776
92,427
350,857
620, 789
329, 173
8,942
2.483,058
382,484
1,027,494
872.937
8,942
3,065.559
307, 168
1.414,642
4,787.369
Generated fund5
Finance costs
Page 21

MALTMAN'S GREEN SCHOOL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
STAFF COSTS
2022
2021
Wages and salaries
Pension contributions lemployers)
Social security costs lemployers}
Other costs
2,453,046
425.904
268.595
2,363,932
423, 721
272,055
Average number of employees
Teaching
Non-leaching
61
20
62
23
85
Number of employees whose emolument$ fall within the bands
£60.001- £70,000
£70,001- £80,000
£100.001- £110,000
In relation to the above higher paid employees. the total employer pension contributions during
the year were £45,396 (2021.. £44,607).
During the year, Govemors received £0 in respect of reimbursed expenses in respect of attending
conferences and training courses (202f.' £0).
During the year, setllement payments lolalling £15,000 were made to one person 12021.- one
person received £2.8621.
No remuneration or other benefits were received by the Governors during the year (2021.- None).
Key managament personnel
The key management personnel of the School comprise the Governors, Head and Bursar as listed
on page 1. The total amount of employee benefits (including employer pension contributions and
employer Nl conlribulions) received by key management personnel for their services to the School
was £231.79312021.. £227,909}.
NET INCOME
2022
2021
Net income is Stated after ¢harging'.-
Depreciation
Profit on disposal of fixed assets
Auditors, remuneration
audit
other services
296.504
(4,7501
14.460
307, 168
f3,fl0
10.
TAXATION
M8ltrnan's Green School Trust Limited is a charity and is entitled for the current year lo the
exemptions provided by Section 505 Income and Corporation Taxes Act 1988.
Pagg 22

MALTMAN'S GREEN SCHOOL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
11.
TANGIBLE FIXED ASSETS
Furnituro,
t¢)ols, plant A888ts undvr
course of
COllStruction
Fre8hold Land
and building5
Ctsmpuler
equipment
Motr>r
vehicles
equlF¥nent
Total
Cost
Al 1 September 2021
Additions
Disposals
7.130,423
81,091
505,322 1,264,714
8,687
116,925
103236
51.720
8,952,179
272,577
149 960
65,874
Al 31 August 2022
7211514
410 773 1 334 915
9 074 796
Depreciation
Al 1 September 2021
Charge for the year
On disposal
3,535,672
201,728
455,837 1,182,762
31,844
62,932
46 724
51,720
5.225.991
296.504
149 960
At 31 August 2022
3 737 400
384 445 1 198 970
5 372 535
At 31 August 2022
At31 August 2021
The market value of the freehold property occupled by the School is thought to be considerably in excess
of ils carrying value in the balance sheet. An open market value for the property cannot be reliably
ascertained wilhoul undue expense.
12.
DEBTORS
2022
2021
Trade debtors
Other debtors
Prepayments and accrued income
1.249,259
28,203
1,084,997
45,108
1202 390
Page 23

MALTMAN'S GREEN SCHOOL TRUST LIMITED
{LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
13.
CREDITORS- Amounts falling due within one year
2022
2021
Trade creditors
Taxes and social security
Other creditors
Ac¢ruals and deferred income
164.389
63.000
214,492
1646 740
48,961
59,273
250,408
1531 053
Deferred income total £1,542.901 (2021.. £1,464,054) and relates to school fees invoiced pre year
end for the new school year.
14.
COMMrrMENTS UNDER OPERATING LEASES
Al 31 Augus12022 the School had future minimum lease payments due under non-cancellable
operating leases for each of the following periods..
2022
2027
Within one year
Between one and five years
12,316
11,702
15.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
2022
Restricted
2022
Total funds
2022
Tangible assets
Current assets
Current liabilities
3,702,261
4,561,143
2 088 621
3,702,261
4,561,143
2 088 621
Unrestricted
2021
Restrlcted
2021
Total funds
2021
Tangible assets
Current assets
Current liabilities
3,726,188
4,430,691
188969
3,726.188
4,430.691
1889 695
Page 24

MALTMAN'S GREEN SCHOOL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
16.
UNRESTRICTED FUNDS.. MOVEMENTS IN THE YEAR
Balance at I
September
2021
Balance at
31 August
2022
Incoming
funds
Amounts
expended
Deslgnated funds
Bursary fund
FOMG
General funds
562, 136
78,974
5 626 074
112,770
32,193
4 752 476
184,199}
113,737}
4 891904
590,707
97,430
5 486 646
Balance at f
September
2020
Balance at
31 August
2021
Incoming
funds
Amounts
expended
Deslgnated funds
Bursary fund
FOMG
General funds
500.504
71, 159
5 442 953
126,600
16,757
4 885 593
(64,968)
(8,942)
4 702 472
562,136
78.974
5 626 074
17. RESTRICTED FUNDS: MOVEMENTS IN THE YEAR
Balance al I
September
2021
BalanGg at
31 August
2022
Incoming
funds
Amounts
expended
Bursary fun
Income in reslricled funds comprises donations received for the Bursary Fund which is used lo support,
on a means lesled basis, pupils that would not olheNise be abse to attend the School.
Page 25

MALTMAN'S GREEN SCHOOL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
18. PENSION COSTS
The School participates in the Teachers, Pension Scheme I the TPS'} for its teaching staff. The
pension charge for the year includes contributions payable to the TPS of £332,17212027.' £330,620)
and al the year-end £Nil {2021- £NiO was accrued in respect of contributions lo this scheme.
The TPS is an unfunded multi-employer defir¥ed benefits penslon scheme governed by The
Teachers. Pensions Regulations 2010 {as amended) and The Teachers, Pension Scheme
Regulations 2014 las amended). Members contribute on a 'pay as you go. basis with contributions
from members and the employer being credited lo the Exchequer. Retirement and other pension
benefits are paid by public funds provided by Parllamenl.
The employer contribution rate is sel by the Secretary of Slate following scheme valuations
undertaken by the Government Actuary's Department. The most recent actuarial valuation of the
TPS was prepared as al 31 March 2016 and the Valuation Report, which was published in March
2019, confirmed that the employer contribution rale for the TPS would increase from 16.40/0 to 23.60/0
from 1 September 2019. Employers are also required lo pay a scheme administration levy of 0.08%
giving a lolal employer conlribullon rale of 23.680/0.
The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the
scheme regulations and under the approach specified in the Directions, as they applied a15 March
2019. However, the assumptions were considered and sel by the Department for Education prior lo
the ruling in the 'McCloudlSargeant case,. This case has required the courts to consider cases
regarding the implementation of the 2015 reforms lo Public Service Pensions including the
Teachers, Pensions.
On 27 June 2019 the Supreme Court denied the government permission lo appeal tho Court of
Appeal's judgment that transitional provisions introduced to the reformed pension schemes in 2015
gave rise to unlawful age discrimination. The government is respecting the Court's decision and has
said il will engage fully with the Employment Tribunal as well as employer and member
representatives to agree how the discriminations will be remeéied. The government announced on
4 February 2021 that it Intends lo proceed with a deferred choice underpin under which members
will be able to Choose either legacy or reformed scheme benefits in respect of their service during
the period belween 1 April 2015 and 31 March 2022 al the point they become payable.
The TPS is subject to a cost cap mechanism which was put in place lo protect taxpayers against
unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018
announced that there would be a review of this cost cap mechanism, in January 2019 announced a
pause to the cost cap mechanism following the Court of Appeal's ruling in the Mccloudlsargeant
case and until there is certainly about the value of pensions lo employees from April 2015 onwards.
The pause was lifted in July 2020, and a consullalion was launched on 24 June on proposed
changes to the cost control mechanism following a review by the Government Actuary. Following a
public Consultation. the Government have accepted three key proposals recommended by the
Government Actuary. and are aiming lo implement these changes in lime for the 2020 valuations.
The 2016 cost control valuations have since been completed in January 2022, and the results
indicated that there would he no changes lo benefits or member contributions required. The results
of the cost cap valuation are not used lo sel the employer contribution rate, and HM Treasury has
confirmed that any changes lo the employer contribution rale resulting from the 2020 valuations will
lake effect in April 2024.
Page 26

MALTMAN'S GREEN SCHOOL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
18. PENSION COSTS (CONTINUED)
Until the 2020 valuation is completed it is not possible lo conclude on any financial impact or future
changes lo the contribution rates of the TPS. Accordingly, no provision for any additional past benefit
pension costs is included in these financial slalemenls.
Effective 1 September 2022, the School exited Teachers, Pension Scheme and since that date have
been participating in a defined contribution pension scheme with employer contributions dependent
on the contribution made by teachers.
For non-leachers, the school contributes on a defined contribution basis to Standard Lrfe.
Contributions tolalling £93,73212027.' £93, 1021 were payable in the period. At the period-end £Nil
{2027.. £Nifj was accrued In respect of contributions to this scheme.
19. RELATED PARTY TRANSACTIONS
There are no related party transactions this year {2021.' £Nil)
20. ANALYSIS OF MOVEMENT IN NET DEBT
Balance at
I Septemb&r
2021
Cashflow
Balance at
31 August
2022
Cash al bank and in hand
Page 27

MALTMAN'S GREEN SCHOOL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
21. COMPARATIVE 2021 STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Funds
2021
Restrlcted
Funds
2021
Total
2021
Income from:
Voluntary In￿me
Donations
Charitable Activities
School fees receivable
Other ancillary income
Income from generating
funds
Other income
Investment income
807
12.454
13,261
4,784,709
149,440
4.784,709
149,440
90,471
90,471
Total Incomlng re$our¢es
5 028 950
Expenditure on..
Charitable activities
School operating costs
Raising Funds
Finan￿ Costs
4.774,915
12,454
4,787,369
Total expenditurè
4 776 382
4 788 836
NET EXPENDITURE
252.568
252,568
Funds brought forward
at I Seplemb&r 2020
6014616
6014616
Funds carried forward
at 31 August 2021
Page 28

MALTMAN'S GREEN SCHOOL TRUST LIMITED
GOVERNORS, REPORT (CONTINUED
Govemors serve for a minimum irf three years and a maximum of nine years. Ai the Annual General
Meeting, held on 29 November 2021, Mrs Debbie Slarrs and Mrs Joanna Bond having both served for
more than nine years, did retire bul did offer themselves for reeleclion and were duly re-elected on an
annual rotation.
Trustee Training
Governors stlend local governor groups, schoollcharity conferences and governance training sessions, as
appropriate to their individual needs.
Organisational Management
The Governors meet al least three times a year lo detemine the general policy of the School and review
its overall management and control, for which they are legally responsible. The work of implementing most
of the School's policies is carried out by the Finance and Propety Development Sub-commillee which
meets termly before each meeting of the Full Governors, Board. The Public Benefit and Bursaries Sub-
committee meets termly lo consider the areas of public benefit offered by the School and to review requests
for bursaries, to consider applications for support and financial assistance for existing and future pupils
and to make Tecommendations to the Full Governors, Board. The Curriculum Sub-committee also meets
termly to discuss the Curriculum and educational developments across the School, lo ensure that the
Sch¢)ol meets ils purpose of providing a high quality of education for all of ils pupils. The day-to-day
running of the School is delegated lo the Headmistress and the Bursar, supported by other leaching
members of the Senior Management Team. Governors attend the Eco Council, and Health and Safely
committee meetings, which meet lermly or as required, with the laller reviewing the adherence of the
School lo relevant policies and considering any incidents arising. Governors are also involved in regular
learning walks and assist in the appointment of senior staff. The remuneration of key management
personnel is sel by the Board, with the policy objective of providing appropriate incentives lo encourage
enhanced performance and of rewarding them fairly and responsibly for their individual contributions to the
School's success.
Organlsatlonal Structure and Relationships
The Headmistress is an active member of the IAPS for the promotion and maintenance of preparatory
school standards generally and also lakes part in peer group studies at national. regional and local level
for the evaluation of quality and performance improvement methods.
The School aims to foster links with the wider community. within planning conslrainls, through the sharing
of ils facilities and expertlS8. The School pool and sports facilities for example are used by many local
ciubs.
OBJECTS, AIMS, OBJECTIVES AND PRINCIPAL ACTIVITIES
The objects of the School, in accordance with the Memorandum and Articles of Association, are to acquire,
carry on and develop Maltman's Green School and the curtilage, within which it is situated, and to acquire
and carry on in the United Kingdom any school for the education of children.
In setting the objectives and planning activities the Governors have given careful consideration lo the
Charity Commission's general guidance on public benefit and in particular to its supplementary public
benefit guidance on advancing education and on feehcharging.
Strategic Aim and Intended Effect
The School's strategic aim is lo benefit the public by the provision and advancement of preparatory
education for girls independent of the Slate system. The School aims for high standards academically,
culturally and in sport. Excellence is encouraged and celebrated. High standards are expected in the
behaviour of pupils and promoted in their relationships with each other, with staff, and with the wider
community.
Page 3