|||Contents|Page|
|---|---|---|---|
|Review by the Headmistress||||
|Council Members, Officers and||Advisors||
|Annual
Report by the Council||(including the Strategic Report)||
|Independent|Auditor's
Report|||
|Consolidated|Statement of Financial
Activities||21|
|Consolidated|and Charity
Balance sheets||22|
|Consolidated|Statement ofCash flow||23|
|Notes to the|Accounts||24|
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|Members of Council|served on these committees|during the year as follows:|during the year as follows:|||||
|---|---|---|---|---|---|---|---|
||(1)|(2)|(3)|(S)|(6)|(7)|(8)|
|Mr Jeremy Bailey||||||||
|Ms Jenny Fannin-Lovell||||||||
|Professor Louise Fawcett||||||||
|Mr Emir Feisal||||||||
|Mr Vivek Ganotra||||||||
|Mrs Amanda
Gibbon||||||||
|Dr Caro Godlee||||||||
|Miss Wendy
Griffiths||||||||
|Mrs Nicole Hughes||||||||
|Mrs Sarah Judd||||||||
|Mr Patrick Lewis||||||||
|Mr David Lillycrop||||||||
|Dr Jane MacDougall||||||||
|Dame Juliet May||||||||
|Mrs Diana Rose||||||||
|Mr Peter Warren||||||||
|The Rt Revd Dr Alan Wilson||||||||
|Mr Richard Winter||||||||
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||||||||||22-23|21-22|20-21|
|---|---|---|---|---|---|---|---|---|---|---|---|
|Energy consumption
used to calculate emissions|||(kWh); all|||mandatory|||10,091,258.39|10,672,620.32|10,790,526.2|
|energy sources are included.||||||||||||
|Scope 'I: Emissions from the combustion||of natural||gas|tCO2e||||997.29|1,069.32|1,172.90|
|Scope 1: Emissions from combustion|of|fuel for|transport|||and|/ or|||||
|heating tCO2e|||||||||503.53|483.21|474.0|
|see evidence pack for breakdown)||||||||||||
|Scope 1: Emissions of Biomass Pellets tCO2e|||||||||0.0|0.0|0.0|
|Scope 3: Emissions from business
travel
in employee-owned
where the company
repaid
mileage
claims tCO2e (average||||||vehicles,
vehicle
/|||0.00|5.27|0.8|
|fuel source unknown)||||||||||||
|Scope 2: Emissions from purchased|electricity tCO2e||||||||536.54|531.41|535.2|
|Total gross CO2e based on above|(tCO2e)||||||||2,037.35|2,089.21|2,182.9|
|Intensity
Ratio 1; kg CO2e gross based||on mandatory|||fields above|||per|3.15tCO2e|3.21 tCO2e|3.38tCO2e|
|pupil||||||||||||
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|Income from:|||||||
|---|---|---|---|---|---|---|
|Donations
and legacies
Charitable
activities|||92
28,229|373|465
28,229|153
26,977|
|Other trading
activities
Investments|||2,088
382|324|2,088
706|1,892
333|
|Interest received|||5||5|2|
|Other income|||31||31|84|
|Total income|||30,827|697|3$524|29,441|
|Expenditure
on:|||||||
|Raising funds
Trading
activities
Fundraising
expenditure
Investment
management|costs||820
195
7
1,022|9
32
18
59|829
227
25
1,081|490
343
27
860|
|Charitable
activities|||29,101|66|29,167|25992|
|Total expenditure|||30,123|125|30,248|26,852|
|Net income before
Ins|and losses on investments||704|572|1,276|2,589|
|Net (losses)/ gains on investments
Net income before transfers|||3
707|(206)
366|20h3
'1 st)|818)
1,771|
|Transfers
between
funds||10|461|(461)|||
|Net movement
in funds|||1,168|(95)|1,,073|1,771|
|Reconciliation offunds:|||||||
|Total funds brought
forward
Total funds carried forward|||56,256
57,42'I|12,351
12,256|68,607
69,680|66,836
68,607|
|||||||I|I|||
|---|---|---|---|---|---|---|---|---|---|
|||||||III|III|||
|Fixed assets||||||||||
|Tangible assets
Investments|||||11
12|54,483
10,856|50,369
10,869|54,517
2,030|50,381
2,098|
|||||||65,339|61,238|56,547|52,479|
|Current
assets||||||||||
|Stocks||||||173|185|26|41|
|Debtors||||||2,376|1,394|2,726|2,732|
|Cash at bank and||in|hand|||13,636|17,602|13,201|16,004|
|||||||16,185|19,181|15,953|18,777|
|Creditors: amounts|||falling|due within one year|14|(7,804)|(9,321)|'(7,678)|(9,189|
|Net current assets||||||8,381|9,860|8275|9588|
|Total assets less|current|||liabilities||73,720|71,098|8'4;4)22|62,067|
|Creditors: amounts|||falling due after more than||15|(4,040)|(2,491)|(4;040)|(2,'l91)|
|one year||||||||||
|Pension scheme|(Deficlt)/Surplus||||21|||||
|Net assets|||||17|69,680|68,607|60,782|59576|
|Charity
Funds||||||||||
|Called up share
Restricted|capital
funds||||16
18|12,257|12,351|3,324|3,308|
|Unrestricted
funds|||||18|||||
|Fixed Assets||||||54,483|50,369|54,5'17|50,381|
|Estates Development
Free Reserves||||Fund||940
2,000|3,887
2,000|940
2,001|3,887
2,000|
|Total funds||||||69,680|68,607|60782|59,576|
|Cash flows from operating
activities||||||
|---|---|---|---|---|---|
|Net cash generated
from operating|activities||19|1,352|5,396|
|Cash flows from investing
activities:||||||
|Investment
income receipts||||711|335|
|Purchase oftangible
fixed assets||||(7,002)|(5,592)|
|Receipts from sale oftangible
fixed|assets|||8'I|38|
|Disposal (purchases)
of investments||||193|853|
|Net cash used
in Investing
activities||||(6,403)|(4,366)|
|Cash flows from financing
activities:||||||
|Net payments
into/(out
of) the Composition||Fee Fund||'1,'I4-1|(548)|
|Investment
management
charges||||:(25)|(27)|
|Other recei ts||||(3",)||
|Net cash used
in financing
activities||||10353|(575)|
|Change
in cash and cash equivalents|In the year|||(3;966)|455|
|Cash and cash equivalents
brought|forward|||17,602|17,1'I7|
|Total Cash and cash equivalents
at|the end|ofthe year|20|13,636|17,602|
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|Other|31|31||
|---|---|---|---|
||31|31|84|
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|Costs of raising funds:|Costs of raising funds:||||||
|---|---|---|---|---|---|---|
|Trading expenditure||||829|829|490|
|Fundraising|expenditure|150||77|227|343|
|Investment|management|||25|25|27|
|||150||932|1,082|860|
|Charitable|activities:||||||
|Teaching||10,057|314|1,421|11,792|10,963|
|Welfare||2,388||4,658|7,0'I6|5.936|
|Premises||1,316|2,142|2,864|6,322|5,680|
|Finance costs||||10|10|9|
|Support costs||2,551|406|992|3,949|3,364|
|Settlement|costs|14|||14|6|
|Governance|costs|||34|34|34|
|||16,326|2,862|9,979|29,167|25,992|
|Total Expenditure||16,476|2,862|10,911|30,248|26,852|
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|Auditor's|remuneration|- statutory|audit|32|32|31|
|---|---|---|---|---|---|---|
|Auditors'|remuneration|—non audit|services||||
|Other|||||||
|||||34|34|34|
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|Wages and salaries|13,174|12,206|
|---|---|---|
|Social security costs|1,348|1,222|
|Pension costs|1,954|1,793|
||16,476|15,221|
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|Teaching staff|124|'I15|
|---|---|---|
|Academic support|107|105|
|Administration|50|47|
|Pastoral|54|60|
|Domestics|57|57|
|Estates|41|40|
||433|424|
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|E60,001 to f70,000||||25|26|
|---|---|---|---|---|---|
|E70,001 to f80,000||||4|5|
|E80,001 to E90,000||||6|1|
|E90,001 to E100,000||||1|1|
|f130,001 to f1'l0,000||||1||
|E150,001 to f160,000||||1|1|
|E180,001 to f190,000|||||1|
|f200,000to E210,000||||1||
||||.X4' ""Sary|||
|Aggregate
employee
remuneration|of key management|personnel||1,384|1,3'i3|
|Number
ofemployees||||14|14|
##
|||||||u,||||
|---|---|---|---|---|---|---|---|---|---|
|||||||,i 'IJ.||||
|||||||'rl ir ~,|rirr|r&|'|
|Transfer|from Chinese||Learning||Fund|13|(13)|||
|Transfer|to Wycombe|Abbey||Hong Kong Foundation||(9)|9|||
|Transfer|from Annual|Fund||||87|(87)|||
|Bursaries|Funded from|Wycombe|||Abbey School Foundation|220|(220)|||
|Transfer|from Bursary|Capital||Fund||60|(60)|||
|Transfer|from Verdant||Bursary|Fund||15|(15)|||
|Transfer|from Catherine||Mary|Scott-Smith||75|(75)|||
|||||||461||||
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|Cost|||||||||
|---|---|---|---|---|---|---|---|---|
|At 1 September|2022||||||||
|Transfer|||||||||
|Additions|||||||||
|Disposals|||||||||
|At 31 August 2023||58,133|15,153|3,432||869|2,063|79,650|
|Depreciation|||||||||
|At 1 September|2022|14,572|5,228|2,097||463||22,360|
|Charge for the|year|1,123|1,224|406||109||2,862|
|On disposals||||||(55)||(55)|
|At 31 August 2023||15,695|6,452|2503||517||25,167|
|Net book value|||||||||
|At 31 August 2023||42,438|8,701|929||352|2,063|54,483|
|At 31 August 2022||40,690|5,943|886||400|2,450|50,369|
||||||f||||
|Cost|||||||||
|At 1 September|2022|55,262|11,147|2,983||863|2,463|72,718|
|Transfer|||2,057||||(2,057)||
|Additions||2,871|1,925|'l49||65|1,71'I|7,024|
|Disposals||||||(60)|(23)|(83)|
|At 31 August 2023||58,133|15,129|3,432||868|2,097|79,659|
|Depreciation|||||||||
|At 1 September|2022|14,572|5,205|2,097||463||22,337|
|Charge for the|year|1,123|1,224|406||109||2,862|
|On disposais||||||(55)||(55)|
|At 31 August 2023||15,695|6,429|2,503||517||25,144|
|Net book value|||||||||
|At 31 August 2023||42,438|8,700|929||351|2,097|54,515|
|At 31 August 2022||40,690|5,942|886||400|2,463|50,381|
||||Page 32||||||
##
|Freehold
land and buildings|Freehold
land and buildings|||
|---|---|---|---|
|Valuation
by AC Frost|and Co. in May 1961|757|757|
|Additions
at cost||57,504|54,633|
|Less disposals to date||(128)|(128)|
|Total cost offreehold|land and buildings|58,133|55,262|
##
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|At 1 September||10,869|12,540|2,098|3,098|
|---|---|---|---|---|---|
|Additions
at cost||509|319|124|123|
|Disposal proceeds||(316)|(1,172)|(118)|(1,009)|
|Movement
in market|value|(206|(818)|(74|(114)|
|At 31 Au ust||10,856|10,869|2,030|2,098|
|Cazenove
Charity
Multi|Cazenove
Charity
Multi|Asset|Fund||||1,079|1,150|1,079|1,150|
|---|---|---|---|---|---|---|---|---|---|---|
|Fidelity Global|Dividend|Fund|||||||138|135|
|Vanguard
FTSE All World|||||||||104||
|HSBC FTSE All World Index|||Fund|UCITS|ETF||||120||
|COIF Charity|Global Equity Fund||||||2,756|2,646|||
|COIF Charity|Investment|Fund|||||2,498|2,497|||
|Rathbones
Unit Trust
—Core|||Investment||Fund for Charities||3,547|3,604|||
|he Com
any|holds 100%unlisted|||shares|in subsidiary|companies|||||
|Income||||||447||450|1,512||
|Ex enditure||||||(399)||(438)|(623||
|Profit for the|Year|||||48||12|889||
|Total assets||||||308||21|1,122||
|Total liabilities||||||308||(2'I)|(1,122)||
|Net funds at|the end of|the|ear||||||||
|he Company|has two linked|charitable
sub|sidiaries:|||
|---|---|---|---|---|---|
||||' ~|||
||||||,e|
|||||I||
|Income||||251|122|
|Expenditure||||(361)|(127)|
|Deficit ISur|lus for the Year|||110||
|Total assets||||8,926||
|Total liabilities||||3||
|Net funds at|the end ofthe|ear||8,923||
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|Trade debtors||932|917|918|880|
|---|---|---|---|---|---|
|Amounts
owed by subsidiaries||||1,323|1,448|
|Other debtors||1,087|130|129|93|
|Prepayments|and accrued income|356|347|356|311|
|||2,375|1,394|2,726|2,732|
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##
||||||||'ll||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||ii|& i|||||
|Fees in advance|||||2,344|||2,861|2,344|2,861|
|Amounts
owed|to subsidiaries|||||||||82|
|Composition
fee fund||||||354||198|354|198|
|Fee deposits
held against|||final|bills||611||1,170|611|1,170|
|Trade creditors||||||85||1,078|67|917|
|Other taxation|and soaal||security|||336||324|326|320|
|Othei
creditors|||||2,143|||2,082|2,113|2,057|
|Accruals and deferred||income|||1,931|||1,608|1,863|1,584|
||||||7,804|||9,321|7,678|9,189|
##
||||||||1|)4j|
|---|---|---|---|---|---|---|---|---|
|Assuming|pupils|remain|in the School, advance fees will|be applied|as follows:||||
|Due within one||year||||354||198|
|Within one to two years||||||354||54|
|Within two to five years||||||834||149|
|After five|years||||||||
|||||||1,542||401|
|6. Share|capital||||||||
|Allotted,|called up and fully paid 16(2022: 12) ordinary|||shares of|50p each||||
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|Tangible|fixed|assets|54,483||54,483|50,369|
|---|---|---|---|---|---|---|
|Investments||||10,856|10,856|10,869|
|Current|assets||14,783|I,'I02|16,185|19,181|
|Creditors|due|within one year|(7,803)|(I)|(7,804)|(9,321)|
|Creditors|due|in more than one year|(4,040)||4,040)|(2,'l91)|
||||57,423|12,257|69,680|68,607|
|Tangible
fixed assets|||||50,369||50,369||47,095|
|---|---|---|---|---|---|---|---|---|---|
|Investments||||||10,869|10,869||12,540|
|Current
assets|||||17,696|1,485|19,181||18,485|
|Creditors
due within one year|||||(9,318)|(3)|(9,321)||(7,772)|
|Creditors due in more than one||year|||(2,491||2,491||(3,512)|
||||||56,256|12,351|68,607||66,836|
|8. Summary offunds||||||||||
|Unrestricted
funds:||||||||||
|Ordinary
school funds||||52,369|30,827|(30,123)|3|3,408|56,484|
|Estate Develo
ment Fund||||3,887||||2,947)|940|
|||||56,256|30,827|(30,123)|3|461|57,423|
|Restricted funds:||||||||||
|Prize funds||||1,990|61|(9)|(54)|-|1,988|
|Bursary Capital
Fund||||763|61|(2)|(20)|(60)|742|
|Estate Development
Fund||||441||||15|456|
|Chinese
Learning Centre||||95||||(13)|81|
|Verdant
Bursary
Fund||||15||||(15)||
|Verdant
Foundation|||||50|(29)|||21|
|Maths
8& Digital Learning|||||10|(2)||(5)||
|Catherine
Mary Scott-Smith|||||75|||(75)||
|Annual
Fund|||||87|||(87)||
|Wycombe
Abbey Counselling|Programme|||||(66)||100|34|
|Hong Kong Bursary
Fund||||13|102|(7)||(100)|8|
|W combe Abbey Foundation|—Bursa||Fund|9,034|251|(10|132|220)|8,923|
|||||12,351|697|(125)|(206)|(461)|12,257|
|Total unrestricted
and restricted||funds||68,607|31,524|(30,248)|203)||69,680|
##
||maintained|by Members ofCouncil to 1)operate the day|by Members ofCouncil to 1)operate the day|to day|to day|activities|ofthe|
|---|---|---|---|---|---|---|---|
|Ordinary
school funds:|School,|||||||
||2) to act as a contingency
fund and 3) to finance future develo|||||ments.||
|Estate Development
Fund|designated|fund to|rovide for major capital developments|to|the estate.|||
|Prize funds|to provide|scholarships
from specific benefactors.||||||
|Bursa
Ca
ital Fund|to
rovide|bursaries|from specific benefactors.|||||
|Development
Fund|restricted|donations|arising from appeals earmarked
for s|ecific||purposes.||
|Chinese
Learning Centre|restricted|donation|for dedicated
resources for teaching
Mandarin.|||||
|Verdant
Bursary
Fund|restricted|donation|for sixth form bursaries.|||||
|Verdant
Foundation|restricted
donation
in support ofthe School's 'Higher
Education
rogramme
desi nated for 16-18 ear olds|||||Platform'||
|Maths & Digital Learning|restricted|donations|for Maths and Digitial
Learnin
resources||and online||latforms.|
|Catherine
Mary Scott-Smith|restricted|donation|for two transformational
bursaries.|||||
||restricted|donations|in support of Bursaries,
Learning
and|Living||Facilities|and Area|
|Annual
Fund|of Greatest Need|||||||
|Wycombe Abbey Counselling|restricted|donation|for the School's in-house
Counselling|programme.||||
|Programme||||||||
|Hong Kong Bursary
Fund|restricted|donations|for building
projects.|||||
|Wycombe
Abbey Foundation—|to expand|the opportunities
to allow pupils to benefit from a|||Wycombe||Abbey|
|Bursa
Fund|education.|Assets|are in a linked
charity and accounted for as||Restricted||Funds.|
|Net income for the year|Net income for the year|(as per Statement of financial|(as per Statement of financial|activities) before|||
|---|---|---|---|---|---|---|
|investment
gains|||||1,275|2,589|
|Adjustment
for:|||||||
|Depreciation
charges|||||2,862|2,313|
|Investment
income|||||(711)|(335)|
|Loss/ (Profit) on disposal||of plant &|equipment|||(6)|
|Decrease
in Composition||Fees Fund|||||
|(Increase)/Decrease|in stocks||||12|(44)|
|(Increase)/Decrease|in debtors||||(982)|(197)|
|Increase/
(Decrease)|in creditors||||(1,108)|1,076|
|Net cash generated|from|operating|activities||1,352|5,396|
##
|Principal|aauarial|assumptions||||
|---|---|---|---|---|---|
|Discount|rate|||5.5%|4.3%|
|Retail price inflation
(RPI)||||3,4%|3.7%|
|Consumer
price||inflation
(CPI)||2,5%|2,6%|
|Pension|increases|—RPI maximum||3.2%|3.5%|
|Deferred|pension|revaluation|(RPI 5%cap)|3.496|3.7%|
|For a male aged 65 now||21.2|21.7|
|---|---|---|---|
|At 65 for a male aged 45 now||23.1|23.7|
|For a female aged 65 now||23.1|23.5|
|At 65for a female member|aged 45 now|25.2|25.6|
|Bonds|1,518|84%|1,791|82%|
|---|---|---|---|---|
|Cash|284|16%|406|I8%|
||1,802||2,197||
|Fair|value ofScheme assets|value ofScheme assets|1,802|2,197|
|---|---|---|---|---|
|Value of funded||obligations|(1,463)|(1,665)|
|Sur|lus||339|532|
|Net interest|expense|||
|---|---|---|---|
|Past service|cost|||
|Asset return|less interest income 41ecognized||in P&L|
|Experience|gains on|benefit obligations||
|Effect ofassumptions||changes on benefit obligation||
|Restriction|ofasset|||
|Total Included
in em||loyer ex enses||
|Opening|defined|benefit obligation|benefit obligation|1,665|1,981|
|---|---|---|---|---|---|
|Interest|cost|||68|31|
|Actuarial|(gains)/|losses||(131)|(277)|
|Past service cost||||||
|Benefits|aid|||139)|70)|
|Closing|defined benefit obli||tion|1,463|1,665|
|Opening
Interest|fair value ofScheme
income||assets|2,197
91|2,456
39|
|Actuarial|(losses)/|gains||(347)|(228)|
|Contributions||||||
|Benefits|aid|||(139)|(70)|
|Closing|fair value|ofScheme|assets|1,802|2,197|
##
|Difference between|the actual and expected|the actual and expected|the actual and expected|the actual and expected|return|on assets (6000's)|on assets (6000's)|347|228|
|---|---|---|---|---|---|---|---|---|---|
|As %ofScheme assets||||||||19o/|10%|
|Ex erience (losses)/|gains|on obligations|(6000's)|||||70|(127)|
|As 96 of obli ations||||||||-4.8%|-7.6%|
|Total amount
recognised||in the statement||of|financial||activities (f000's)|||
|As %of obligations||||||||0%|0%|
##
##
||||t||f +' ixr|||||
|---|---|---|---|---|---|---|---|---|---|
|||||u|~ 4~,;a~~,i~'s' i 1%,.|ii|1 s|s' s|'I.~4 -'.,|
|Capital|expenditure|that has|been contracted for but has not been|||||||
|provided|for in these financial||statements||379||||379|