QUEENSWOOD SCHOOL LIMITED CompAtty Registrthti¢)n No. 40561 Chtity Regi$ttatiots No. 311060 ANNUAL REPORT FINANCIAL STATEMEwrs FOR THE YEAR ENDED 31ST AUGUST 2023 Iiiilli 111 AW7246P* 0310412024 COMPANIES HOUSE
Anrtual Report and Financ1 STatements Fot the ye¥t ended 31s1 August 2023 Report ofthe Gtsv¢fflths 1-14 Audjl 1>18 Consobd}r¢d %tIlLXTicniof Fit4c& AcBvyt 19 Consowatcd Bthnrc 21 Con*)kdaicd Cashlkn 22 Nofcg tothc Fmantial StatefftEnts 23-39
QUEENSWOOD SCHOOL LITED
ANNUAL REPORT OF THE GOVERNORS
for the ytst tndtd 31 AU$t 2011
GOVERNORS AND CHARITY TRuEE$
Qwcfiswod Govcrnor5 Irr thc Ch1¢Y Twusf£o off$Wood S¢h(xA iimitcd fthc Chwty.) and thq.
Mr Trll &. SIusfft3 B.4 FCC. ICh3irl
hlr I" C Girnharn (I'icc Chajrl
hlr R HSC. CINf.4. Cfn& bllcc
Mrs K O .IShaW GNotnitrAtrd by the OH Qu¢tnstsDthths A5sticiauc)
lThc REvd Dr D M ChaTKnzn BS¢. MPHIL PHD
bls J MA (Flonsl. PGCE IAFWrtied 10 JLblC ?J>
Mr R S BA (HONSI. thp MRS
Dr O McGubiJ)css BSC. MB BS. FRCP. DCH. DRC(
Mr S Morn% MA. PGCI-. NPQkl
Nlrs C Nvfman &Sc. CIMA
It4 N IPenny (NlInred b). thc QUc(d Pty A5xKiauoD)
Nlr j Phdan (NONS). MA (DI. PCVCE
hlr A D Popplcton riFr. rn%c
iA>rd N Stlrnp BA. CA
The Re¥¢J T5wthd¢ll FCA (RL1(Yl 31
l(s P M Wrnch
ElccEcd tncmtrts arc aPrltCd Trry Ihc Brd M r¢¢ommtyidaDOn ol the Chwr And Ilice Chr 8nd they
a¢L suppl¢m¢firtd b). Gov
QUEENSWOOD SCHOOL LIMITED
ANNUAL REPORT OF THE GOVERNORS
for the year ended 31 August 2023
Macried wlrh thre¢ chililrtt4 Dvo of whom OldQueen5woJInS. EiecE¢d a Gov¢rnoL
of Queenswo(xi Ln June 2012, he is VKe ChaLr of Governo and Chait olthe F2cibttes Cortthiirrte.
RALPH BA]NE5 BSC. CIM& CEng. MICE
A cor(%ulr2ncy cateet covering 20 yeats th Deloitte Cty)sulw and Prictwace£knuseCooper5 and now
rls h1$ own bu%in&%s consulrancy Cony speciabw Sllppottt clients to deb.ver thange and
improvemeni pnonDes. Ralph expEnen¢e tn ix>th pub]ic and pnvAte cros cross a tan8e of
induswe.s. iNIatlled wjth 2 son daughtrts. IK>th of whh ate Old Queen5wotyJllTLs. Ele¢ted
Governor of Queet)swood th 2013.
KATE BEISHAW LLB (HO). PGDip. LIJI. AKC
Kate 3 pupJI 3t QueerL%wood from I999.1, 2$ 2 day Ixthrdet befo£e Jn the Sixth
Fomi. Afrer her A t£vc]5. te read IAW gt the une[Y of Exerer I4 ¢otr¥>ltted rhe Bar VocADottai
Coutse and an LLM In PiofeSSLonal Lega] Practice at the City Law School. quabfyiti8 As a B2tnster.
Alon8%¢ het snjdies. Kate btcamt itivolved Jn the Old QueensW0' AS5(KLitson, Irutiauy a5 an
Elected Mernber. before becory fwst Honornry Secretw a TnL of tht Old QtA$wol2n,
ASqoC0Tr's Butsary iftd scholars1P TDJSI. and rrK>st recendy. Governor Rcprt%tttDuvt for the
A%qociaDOn. Ka woLk4 iti 8tr Education adrninLstration, reI00n 9ThJ governartce. #nd ts cortendy
Head of Educ•tion #nd Smdent ExpaJer)¢t #r VwvtNry Colle8e London. Katr a .4upy)rter of Target
Ovarjan Cancer and a Governor at Locd5h"p Lane Ptitnw SchwL wbert she akn strves as Chair of the
Firtattce & ReSteS Commirtee.
REVEREND DR DAVID M CHAPMAN BSG mp PHD
Disttict Chair of the Bedfor(L%hice. Essex and Hertfordshire DI%t[ Of the NlethtsJLSt Church Aftet
duaiirtg wilh a hbthemttL% degrtt. he worked ft>r the GEC.MaON Compfiy Jn St Alba And NtLiron
Kqnes m ffAdr mt)2getntni He trAkn]ed for minJ$w at Wesley House, CambLidge, and a
doctorate Ln Theology from the UwvevJty of Cathb{ge. Fle %etVcd Jn appointtnents in
IethodL%f CLfcwts Ln tA>ndon and Sussex be1C being appoinrcd DisttKr Chylc in 2016. Damd i% a
rncmbtr of tht MtiFM)thsr Fwth nd Oxd¢r CommiThet. He L% marned with three Adult chLidten.
NomLnated a Govemoi by Ihe Methtsjist ChUh IT) Stpr¢mFrt¥ 2016.
MSJUDITH FENN MA (Hons). PGCE
Juthth F¢Jm r¢ad hL¥roTh ar Camblld thert TU8hi fot 13 yeus. ]2tterJY a% a depury head at the
Godolph]n and LatFmer khoo]. She has been a Govrrnoc ofa Sptctst gch(M)l and a Chxit of
G)vetnor% of an 1rn4epc1eftr dav and txM(thng Khrx>l. She overvAW sratutorv teather inducTr(m in
indeptrnlertr xhool$ acro%% England fot a number of lea. befott raknng up po%t 1% CEO of The
ethoth%t Independent S¢hiM)L4 TnL%r Febru¥rTr 20J? . Sh¢ L% ¥ comtimryed with a deep love of
%chool% and thar potential to transFofflJ "V.. In iwJxe titne. 5ht rrave]s' b4 ? wuculat fa<¢itiation
with pLehi%tollc $irrS.
MR ROBERT GARWOOD BA (HODS). Dip MRS
Rob ha% recently Lettted. hIng worked Jn the FLnancd Scrvites wwjustsy (or more than 33 yer%. In .$
recenr roJ¢. Rob worked ir Srand¥d ChatTtrtd Bank th¢ glob21 IAvetorq busJnes5 2nd the
Fan(la1 Insuwtioll5 reatns acro55 Euff)F. Ptthous b3tikiti8 wles itscknded Qtib2nK UBS and Lloyds.
Ht 2L%o speftt seveL21 yea(5 Jn the asset rTranagement industry. Rob was educared borh the Utiitrd
Kingdom and irt US. Hc wd a BA (Horts} dtwt m BIneSS StyAd5 a speciab.st Eocu5 on
Maik
QUEENSWOOD SCHOOL LIMITED
ANNUAL REPORT OF THE GOVERNORS
for the year ended 31 August 2023
with dau8htets. now both pupd5 at Qc[L
QUEENSWOOD SCHOOL LIMITED ANNUAL REPORT OF THE GOVERNORS for the y¢at ended 31 August 2023 OFFICERS Prineipal Irs J BSC Hons Bursai & aeAE io the Governo lan WJJb¥ms BEn& ACMA. CGMA ADDRESS Registeted Office Shepherd's Way BrookmarL% Park Hatfield Hertford5hire AL9 6NS Website ADVJSERS B#nktrs HSBC pk The Pe¥k 333 Vauxh¥Jl Btsdge Ro*1 IA)ndon SWIV IEJ Auditors MOOBE Kiyton SrnEth LLP 9 Appold Su¢et EC2A 2AP Inve4iment Advise[5 JJ>tyion WC2B 6Am BToke He¢& Andtew% & As4oci2tes Ltd E]even BthJ(llevpbce 2 BrU%l¢k Square Bnndleyp]ace Bba BI 2LP
QUEENSWOOD SCHOOL LIMITED ANNUAL REPORT OF THE GOVERNORS for the year ended 31 August 2023 Tht GovttnOT% of Queensw(x)d Sch(xil pr&sent the Annu3] Report foc the year ended JI Awt 2023 under the Ch#nDes Act 201 l. rogether with th¢ 2uth.ted ¥couots fot the ye. and Conf thai the larrer hve been Ptepared in iccordance Accounting and Reporting by C111ic4." Sure[Ir of ReCOnyeftded PracDce app]Lcable rts cljatitics Ptcpatirtg thtit Accounts Jn accordance the Fin2rKui Reportsng Stan(lard appb¢#blt in th¢ UK and Repubbc of Ire]aryJ IFRS 1021 {¢ffcctTre l Janw 20151- (CbatiTit4 50RP (FRS I2)1. the Fjnancjal Reporurjg StHndard applicable m the UK aTrJ Rq>ub]ic tsf Ireland IFKS 102) and the Conwanies Ac¢ 26. REFERENCE AND ADMENISTRATIVE INFORMATION The Govtmor% are bsted on P%e One. Tht execuiive officery pnncLpal address of the Chatiry and p¥Ttrulors of the Challrf4 Profes011 advLseL5 gIn on Pge Fout. STRucfuRE, GOVERNANCE AND MANAGEMENT Charity Struetytye Queen&wo(NJ School LirniEed vpd5 incowrAwd os * PTiV4Ee limiT¢d comwy (Re$ttiOn No. 405611 on 22 Febnjafj 1894. The Company was re$te[¢d 35 a thaDty [Rett0p No. 311(K)01 by a Ttu$t Deed dared 18 Novemkr 1953. Group Structure and Relationships The Chatity wholly owrt% a rJOrt-ckni12ble subsidw. fvenswoKyJ Enterprl5 L4mira (Company Re8L%ttation No 1840914). Thc StY.5. ¢oryr]se the Admllstrllon of residents and aDn-re%idertDal lettings foL sporting artd other aCtille$, the operatson of the khooj $hop and ¥nuilary rtathg actstles. The Board of Queenswood EnreI]St iimired compnse$'. Mrs C NOrnn (Chwl Mr i Willi>ms Quttnswood School lJrnited LS cofLnected thUgh common. p#tallel Or rel¥rtd objttrs, and by wttije of comnK>n conrtol athl ury of admJnistEatyOrt. to the Queen%w(xyJ sChl Chapel Trust (Charity Rwsu3uon No. 311060). The prLfKJpai of ihe Queenswood School Chayl TLusi i% to manage 2nd mamrn the Eabnc of the Chapel bwldty¥ qo thar ii will be used as a p]ace of wot51u"p by the pupth 0((00d Sclwl any others who May wi4h to attend tht services held m the Chapel. Govtrning Do¢ument Thc Ch¥iry 1% gov¢mtil by its TnL$t Deed ld ArtKIL4 of AssociatKm. The Articles of Ax%Ki¥UOn w¢r¢ ]ast amended Jn 20LO. Goveming Body The GovemLng BY compti3cs the GtsFttTM>ts Is Ch•n"ry Trvsnes of Ck•riry who are also Dwe¢ttsr$ of thv Company. Governots. Responsibilities The Govemot% Iwbo ore 2Jso Directo OF Queen%w(Mxl School timited for the purp($ of con)patty law} are ¢esponsJble for preE>aring the Governors. Report and (h¢ fitwK] srarttDtnL% in accordance wlth appbcable jaw and Urnted Kirt8dom Acwuntsng Stsndatds (UNted GeneThlly Accepted Accowiw£ Ptacuctl. Comparty law t¢guir¢s Goyernorq to PttP9re fjnanaal 5t3tcmcnLS for ra¢b firt%fKi ytar wch yve a TnLe and Egjr ew of the srate OF d)e 3ffatss of tht chatitable company And the group 9nd of the incommg/outgoing ttSOUTce and Appkncation OF resources. Lncluding rhe Incon and ¢xp¢Jth"tu£e. of the chaatabk group for that pen. Itx ptepanng Ihese fJn4oci21 %taitments. Governors ate teguwed ro Selecr suirjble c¢OunU policie% and then apply them cortsLfitendy Ob5ervt rhe method$ 2nd pnyles iti the Chantie5 SORP Makt Imels and estirnltes that are rea50nabic aTyJ pn¥J¢nt St2te whetheL applicable UK Accounting Sirtd#rds have btttt folk)wtd. subieci to any rn2teiial dewLure5 di%c105ed aDd exphin¢d iti thc fJffi#ntiai statements
QUEENSWOOD SCHOOL LIMITED
ANNUAL REPORT OF THE GOVERNORS
ror the yeat ended 31 August 2013
Prepa(e the financial statemtnis on golljg concern tqsis it is ioappwrc to Pttsumt that the
chantabie company continLLe in
The Goveinocs are rLspon5Lble for keep8 proper Xcfm]rtrts record% th¥t di%clast with trasonable accuracy. at any
Dme. tbe financd posjtiort of chant2bk company and enab]e them to en5Ute that the %utetnents
comply with the Comp2ns Aci 21W.. Thev 21$0 tesporLSLble for safeguarthng the assets OE the ehaaEable
COOV#tty t)d wup atjd he¢ lor rkJrtg re#sotJbk %5 fot the pitvtftiion and detectLon of Eraud And other
reguiaatyes.
RtctuitD)eo4 Induction attd Ttw ofGovenhors
The ChAnrfx elected GoverMr5 Are gppointed at g tneeting of the GoTemor%' on the bas&% of nominauons
ttceived fLom the Chait Vice Ch2Lt, ttcom0datKjns fot e"blty ate based on relevant attribute
includirtg p¢rson21 cort)peretKe. specdL%r skills and 2Yadabth"ry. All pLospectivt Govemots visjt School ro meet
repre4entauves of the Board wuor mxwnt pnw to nofflinXtn. An U(On p1MMe is attand at
the School new Gove[r[S and rlw are proed with Kces5 ro the Governors. Porrai COnnirt8 thc Aru¢lt% OE
Association. Govemor$' arjd ke), School pohcjes. a
QUEENSWOOD SCHOOL UMITED
ANNUAL REPORT OF THE GOVERNORS
for the year ended 31 August 2023
Investment ID Staff
The TttL%ree% are keen ro 2trnci 2nd LeTrin the Et4t te2chJngand key Sup[ Sf2ff and set Sa1]e and other tenns of
Itmuneration m order to Ery to ach]eve this. Remunetatson of key PeI)nnel 15 [b]Ished 31 aPPOlntmtrtt by
the PrJncJpa] ]dIOt the B0d of Govtmors. It Js thett2fter eWed on 2n annual IMSL5 by the ch and Vice
Chaic of Govcrnor%. Remutteoriott for au L% t¢ted •ntsLJally with cefeietKe to reltvat)r pub]LcIy 2vaJlable
irtfomuuon artd bencht)urking %uryeys.
OBJECTS AND AcrIvrriES
Charitsbk Objects
The tsbjects of the cl• #re".
To cortDnut 10 opetate the t]5' boArdin8 EM4 day xhrM)l known 25"
. subj'ect to the TDJ%t Deed
and ihe compa.1 .irricles of 8wded by Chtistian ptiwlts whijsi ttcowsiftg the of
different ¢ultwe5 and hJrh4
To the prevnr.%ithdard% arw] tt¥thDon of Schrd and TO COnUttlJt to seek to wtoye and adv4nce
education for pds by ail ¥pproptMtc rnean5 inclLWju the estsbbshmtrtr of funds (or $ch0kn"p. IMleS and
pnzes
Public Btttefit Aim$ atid Intended ITttP•
Withift th¢%e objects. the School'5 pub]LC benefit is to piovmle an outstxndmg academLC ¢ducaDtsn for oll pupil
Jrre$pecttve of the parents. financjal rneans. In additioo the Sch(M)i offer% a le range olother %Dviues de%yed
to produce wdl.¢quiptd and cgring uuztns of th¢ fiLllt. the leaders of [(}rr}ll. who will 5eThe their
cort)mutuDe$ well and with a deat 4t[ olrespoAsrbth"ry. Th[5 atm is suppotted by an ¥CDve pW8tart of pastoral
e WLthin a.Ptlal framework. 25 well 3$ by coMprehenve 3 nnge of aiuwues to prONu)rt physical
and rtcr¢2tsonaJ intett5t.
Delivery of Public Benefii
In accotdance the Chantrb]e Objects of the Chlty. and due regacd to the ch1 CommL%sion's
(tAo¢e oft Pubkn¢ Bentfii. the School iontynues ro widert pubhc acctss ro the tsctlltnt education Ihat wl% aged I I
to 18 iecejye ar QU¢ell5wt.
In order to $upport this obiective to ¢nse d¢ Th) one excluded Irom the opporturntF to benefit from dS
educArion, the Governots mkt 2b]e fu]ty Mel%-(red butsary awar05 of up to lo1• ftt LenMssion in
apptopnate CllcUtttce5. A scho&T%hip can be, and freguently LS. crylcttnted by a burwy.
l)Jeenswood coDunue% (o %trewhcn its luth5 * rnimr of IWJ piimary schools fot whom it make5 avatlable.
at rLO C
. Jt5 faci]ityes such as the sTrvimw pool and the theatre. #s well as OUtd¢x>r 0¢8 ¥rea$.
Although it should be noted thar uqge hzs been Le5ttiCted due to pJndemic.
Eogagemeni wiih Suppiierg, Cu$ioJners and Other5 a BvSiDess Relaiiowhip tbe Sebool
Thc School'% $uppiLer and cu5t4Jm¢r ¢ngeMent. IncludLng ail pob.cies aryj contricts ate de51gned to en%uic a fair
artd tr#tt%partnr apprtyAch to all bsInes t¥¥nsacuons. The School has in place ckAr and ttanspatent r2riE(5 foL all
facibties #vgilable ftsr eXrn gnd these chgxge4 are nnu¥lly nchmtell giwE othtr Compatable faciiitse5 to
ensu¢¢ th¢y LepLesent faLr value.
The School operates i ttonsprcnr pro¢urernenr prccc55 for a v3Jy¢ b•std appro1 stw<tiu¢. thtrtfore en4uLing •U
8ctyicts and products ate assessed undti the same be
QUEENSWOOD SCHOOL LIMITED
ANNUAL REPORT OF THE GOVERNORS
for the year ended 31 August 2013
New stsff ate hLY dcted and tx)th teachcn and .%Up[tr $off take part tra56 both befott the $tart of and
duriThg the School ye. The School is coMmitl ro t4u¥bry of oppottUTUry for all who leJm #nd work
here. It L% coi)Imirted ro the ptitiuple of equ opp)DeS that uTrTrxObed our Equaiiry. Derlty and Anti-
BAci.sm Pvlicy, which ]5 kept UTyJei constsnt ree by ou£ Depury Had PupLis t)d i ttgujatly discussed by the
SenLOt ade£shiP Team.
Catbon tsd Energy Usge
Queen%wood Scknol contin8 to be engaged Jn a pLocts% airned ai reduang ils and yeenhouse
tmi8ons.
In yeat. the Sch[ pLqceil oLder gnd comffe lljstsllarion ol a 176kwp $0]at #toy which %houki wvidc 8.1(P1o
of the School's cutzcnr ¢nti8y de[1d.
We ate developin8 a term sttatt8y and ate cu£ttntty focu&d oft..
Pur¢hw energy effitienr eqvipnnr where appwii¥re iti the School including 2 zero emissjons electric
tnirnbus
Upgt2dJng exisung HVAC systeffL% to rnore enew
QUEENSWOOD SCHOOL LIMITED ANNUAL REPORT OF THE GOVERNORS for the year ended 31 August 2023 To enhaTKe Stoff Deveiopmenr #nd rtmunerAtion oppotwntues that wjll tUre teaching excellence acros% the cutticulum To work with the OQ.4 slwing the knceiong benefits OF (¢TK[ thrgh cdteer advice. meftto£uJg 2nd AppLopllat¢ $uppoLt Stratt8ie$ to Achieye thii Yeès Objectives The School ha% contynued to Lnveqt in our admisw>ns ld marketing detIts a specific focu% on wng out of the Lntern#D0ft tnrket and concurrendy pvpd rttention for SiKth Ftrrm ]% 89 strtsng a5 ir can po4%ibly be. The School Lnvtsicd in refurbJ"5hing 16 ¢]Ls5fiK>TtL< wthin the Audrey Buder Cenrre #nd cenovated two IArge Science Laix)ratone5. Pupil dewces wtst chosen IChtomebook) #nd wtrt wlltd out to Yi 7 and pJan% put mto pLqce to Toil rlM% wt to Yt 7. 9 & 10 from Septet))bei 2)23. The School tertow&red and aSsign¢d parr of a bvi]thng for a oew Wellbeing Cenrre and ncnuted a membtt of stsff kad thL% Pgrt of school from SeptembEr 2023. Prin¢1] A¢tiviTies of the Year The Chanry provide% boarthng and day education fot gitk frorn the ages of 11 TO 18 m a singk 120 acte si. At the year ertd, the School toll tWAS 459 {437) comptisittg 245 P251 day a1214{212} boArdtiS. Voluntee A numbeL of cur£ent artd past pattnts contitiued ro providt n>ny ofvolurtrary ser4ry£e duxing yeat. The Boatd would hke ro rke thi% oppomthiri to expre55 its 3pprtti•uott for thew generou% and valble supporc Opertiortal Perforniante of the Queen$wood EDtcrpme Limited 21J22111 The £tetLe Company 0Ted ihtouglKbur ytat. Tht mior Eo¢LLS was o rtrurn to nomul aCiiv]ue for %POLtirt8 2CtiWties with the Scbool Slvjmg q)er41ion wirh txtemai lettin foi fooibll. hiKkey. tenni%, neiball atml fenang. Residenrul ktry actiDeS haptrKd duting the Summer, albeit Iwth more Subdued numbeL% ihan hoped for. STRATEGIC REPORT REVIEW OF ACHIEVEMEFrrs AND PERFORMANCE FOR THE YEAR Opertiort] PerforniaDCC of the School 2022/23 All d¢parTLs and stsff are #Cuvtly eo8a8ed tn the SclKJl's perfom)¥nte. whether thi% is from ¥ purely atsdem cortujbuuon or one Ihat involves ¢tr¢urncu]ar acrivLiie5 or 5P)tL unFACt of these cOntriPoI5 Is large]y peTh.On and Ln many cases i% hard to ffleasute. bui below yeS a fiavout of some of the 2cti%ryties tha¢ have made 2 impct ovrr thi4 L3%t ad¢ ycar. ith the 8fAd¢ srAndard ceELUn1 10 pre-covid kvels. we were debghted to celebrate exceueni exarn resuiL% with PUPLL5, wents and qtaff at Queen4W(K aFAin Ihis yeAr The Yeat 13 IcaVcr% who had not taken wxleTh GCSES, and the Ycar I ts, benefired fr(xn th¢ continuous tduc•oort thai they had re¢¢ed thTOU8h the pandtmic and bevond Jr Because OE thr ]Ack of lollna] practice. we 9 shoo 4econd mck exarn peti¢)d at the beginnmg of the summer remL thi8 abo 5eryed ro ther evide¥Ke in fomu] exam0$ Jn cw the txam se%>on could not proceed.. even though thi's ethe w¥ rtot Used for god1 th¢ pLactice gd by pupJL% w4$ very useful. A-ltvtl Results 56.?/ry of grdde% wcre A_B. an ouKome cxacdy kne the results of 201&19, thE 195t yezr an eqWVAlent grade standard. ld a hjghei vajue added. This an wtcorne of the sch(x)I'$ abth'ri, io p¢oiryd¢ continuous educ•uoo dllwhour thtit paleI¢-d1sruP¢¢rt GCSE cfnus¢s which ore essenoaj Jn bui]dthg the foundautsns foi the nK>te gdvanced 5Ndy m the SLXth Form. Seven of the 43 candMlite5 achieved at least three A/A pdes. tht bt51 It%r br8 fout A45. Uthver51ry platts Wcre ned #E C•rnbtid. Imptriai. 8.$ #rtd Uwvt¥.%iry Ctslkgc5. Ltrd0 maay oth¢1 R%sell Group UvC1tics *JLJ m the USA.
QUEENSWOOD SCHOOL LIMITED
ANNUAL REPORT OF THE GOVERNORS
for the yeai ended 31 August 2023
GCSEIIGCSE Resuhs
The Yc4t I I rohorr achved S0.P14 pdes 9.7. which was artother vtry ts)wre%sive perEortnanct. %iwficandy
better than the hte%r compaoble (2018-19) We%. Vluc Jded alrn%r rwtrthitds 019 gAde per pupjj. per
bject which continued our UAbrnken n]n of 20+ veALS of statistKally 5wiifitsnr VA it 8 99.P/4 Confidence
level. Anx)08 the Stro Le$u]ts wer¢ SO oJrsrartdiJ¥ indilu21 achievetrnts". 14 our of the 59 c2nthd2t£s
achieved at ka5t eighi g(ade% 9-7.
Cutticulum
Change to Edu4S txam tM>#r(I ftsr GCSE. The cow%t i% mott a<(eible Cor 211 llL%trumEnts] srAtutig points
and includes le55 wnting than the OCR e53m. which tyoukl bto¢fir our E.4L %ttMlents.
chal to Eduqa% exam board for.4.irvd .4gaJn. ths rorttaLTh% ItK% wttiing than thc OCR.4-level ar)d ¥lso
Lnclude% a bye perfotmRnte rts an tumiDer. wknch ]% much bk"t rtai hfel
N¢w KS3 schtMr of WodL. FOC on cre2Dng bfe-long MuCn and enthusi with ielevant
arml ei£Jting rnatenJJ. which ¥ losh clrm¢ni of rhoKe and cteavity.
Removal of iht An Yeat 7. SnKients w¢Le not making %(actOry proyess attd it th'd rKTrr lead
to %u[IKient %ltUlg IlL%twmenr uptrke.
Co-cuiricular
.4ddxtion of new c(Fcucnculac aitswties, in¢lwJing Baod Cknb. Show Band (to learn how to pjgv in a sTrK>W
band foi twsic¥lsl. Guirar Club and Prfcu%%L4)n Eemble.
QUeerL$w(K Singer4 J% now an auditioned chtiir for the cT¢elknr %w
The (Lte is fot all treat wups. liowinbtr sDJJ£rtts to learn from others Jn 3 vertsoj rnannrr.
th older tudenr5 supp0rD tbc Towy¥ Or4. and Younp StrenL% accek%Lng trickn.er matenal thar
pethaTr% they woujd have before.
Elle L4 Worki cloN¢I!' Wich th¢ dep2rtrntnE to SUprt th PCtiO. Th evident irj
the pr(NJuctson of Kve IVLIJ R
QUEENSWOOD SCHOOL IIMITED ANNUAL REPORT OF THE GOVERNORS fot the year ended 31 August 2023 Y¢at 13 A.leFtl %Ndtnts peLform Be My Baby Q Revue. Whole Sch(K)l DarKe SILOW Year 12 A-level DrAr[ swdenr% perfonfj Oort Over Soho Ytat 10 GCSE Dr#m# snjdenrs fthn d¢Sed pieces. iNspi¢¢d by historical 68utes for lnterrvau(thj Wom¥rtN D#y Dtama SCI. Pr£lucuot) of A Mon%itt CAIL% Dance Wotk4hop%. WeRt End ChoieogApher Srage ComTrAi Work5hiw Th¢aue Top% Foc Ytjr 8, GCSE and A-level med Component 3- fJ]m. rnagaZc. webskte and trfKIca5t creation CtrCvrncu]ar Clubs. Dr4ma. Dance. LIMD.l. Meiba aTxI Ce¢cttL Balkt A.levti Drnm¥ Me(iio tiip ro the Edinbuxgh Fr Ftsuv21 SuFtb results In firsi yeat of Media SttJdJe$- all B io A Gtdes QueYaNiJJood rxlpd's ir¥J enjovtTrrtr for %POrt c(lIn tn tht acade Fur 2022123. fn %hort 298 puptls pJaFed for 8 reank the Q SporLi department r4n n)r¢ th0Tr ?(W co-¢urricu]#r £lulb' 2nd rtsining ieNsion%. th¢re wert 575 fjxturts Jn 16 sw>rtb and tht torai number OE Q t¢4rtL% 2 Phe(r3] - l(M)l The I'eat Wgs celebrAreLI at the sporrs .4w2rd4 pr¢ertred b. Luichelle DLUon. Ivodd Tllad)k>n Charrtpion. Olvmpian and ic£laJmed coach. PICe %ee a sumrTwr tsf the ach"Leveirnts Lxlo. HockeF - U12 Ea%t FInr5. U13 Ea%r Fudists. U14 Ea$r Fmabsts and Countr Cup Champ. U14 & U15 Cout)tt- Cup RuDnets-up. Ul6 Indoor Courtrr Rurtrteth-p. 151 _ E&4[ Ind(x>r FinaJi%rs. Round 4 01 En¥l>nd HockeF Club. Q%#1 ffft#L4 of 11tpend¢nt Sch)&% Ho¢kei Cup. InthvidU Hockei, honours were out4randing. 25 countF plxF¢r5. 2 re601 players 9nd 2 Jnr¢maDof41 pLaIr$. lenN4 Lwrenrfv 111 'LennL% icIN)kn. 16 %ndtnts hang ld¥#I Trtit)i% lesqort& thwughoui the vear. U18 .}[11(e Cup (N2ttonai Champions). U15 Natnl ch%mpLons. U13 naiional ChafflpLon4 2 Juwo Vimbl¢di)n pjai-rts. x l Ul4 Grral Bntiin reptCsenTAuO U19 Harpenden Doubses Champiofis. U16 Hatprnd¢n Doubbe% P]are winn. Eion I1¢P¢nd¢nt S¢hry)l% N¥DonaJ Doubleq U15 Runnet% Up & U19 Sen-FJn5t5. %evetai ChOla% pLgTring Inrernati0n ITF and Tenm% Europe Etr. I piaTrTr Trnked 801h in the wodd iluniot%l. UK No. l %chI)I Ln th¢ UK ** tsnked bv rhe LT.4 bpased on tram rankIn. Fencing continue% to r]e- we h3TE 5 regioval feeTh and 2 lntertr4uoo. -4thittitE- 3 .4thletes thc Nalltsn2J Sch()01s Fit]aL. Nauonaj Sch(11$ Hi) Jump Number 6. UIS County ReW0n Hammer champion. Nall0n SchwLs Runnei-up 3 Countr charnpJon% and I .4thitte placed 2 ai the Counn. ChampLOrtsh4)%. CounTr kwe firt2]ists Di.sthCt chAmpJons Ln 3 age gtOUPs .X15 iJvJividu31 Distsri chaMpK>4. Jnt 2t)d In(rr Re8iottal EuKbsrs m Natyonai Cup. HoL%e tidLng- 10 yrL% ttpieqenred Quet%00d in evtnts. Indid] tLders have had sUCCe.%% At {4 CoontF ChampJon>, l Runn¢1 Up atMI im pLg¢¢ Te). r¢g¥JJvl 2nd nautyn¥l evenTr irtcluditig Place 4t HLckstead and the GB PonTr tt1. Ntrb•ll- 2 counn" Pbreri. 3 Re01 Pbi'ets. l Ethb4ar)d NeibaU¢T who akn Capta¢ ihe nauonai team. Football -2 .4c#(lemF ai foiEenham. 1 15F_4 Ul8 Nattonai P]are£. 2 DL%tnct B¥dmLnron high icytls of club p2tD¢iPatiOn COfflPCOll8 in th¢ Herts & %&ddltx lu18 ? district clmpion8 gt U14 aTrJ Ul6 sRce twiners up Ln the NailooIs¢tr)j% Competition. More rhan 21) pJa!'exs aL40 compeTed the Htrtfotdthite BadJY4T)ron roUma0rtts. ct0 CountrF. l&d Herts DLqtil(t charnpjons (Yrl l-6th1. JNK% NaDom] 6Aah%ts. Ca¢ker- U13 LxdF Tavernet5 CoLthtr RwJtt¢Tr Up. 3 CounTh pbie(s ¥rtd l UCC player Swimming - 6 aclu.ew CouDr¥ Standarils. We have %ome wtst2odj perforniance% at club kvel. £ounn- 12 x go]d. 7 x 5i]vei arml 8 ¥ btonz¢l. Reortal {lY broD2e. 2x siiveil aAd ttauottal Icvcl swim compeDoons with 2 swdtnL 4lfri for thr Miional chan¥ionships ac$ 5 tVcnLq. JnL% placed 3rt1 CountF leye InieTh the Irdgue. T¢ip.s - Sejuor HcKkei p]aTrer5 rrnvelled To Urtecht pre-se*%ort fot S datr%. 46 Jurtiot Hocktr" pELFeis participated Ln a Hockey Tour to Barce]oTha. JS Tenn pLqFers touced in Morocco at Ea5¢er. 42 have %wed up tn Ski Tup Jn March 2024. IS Ehte SpottswortJetJ lttaDonai ItvtJI m the Collow spotts - TtftNs, Fencin& Hockt!", H¥h JU, Hotse BJ(8, Netbau. Judo 3nd Slwx)tsng.
QUEENSWOOD SCHOOL LIMITED ANNUAL REPORT OF THE GOVERNORS for the year ended 31 August 2023 FirruRE PIANS Objertives fot the ForornI8 YeT In shapirlg our objecDves fot the ytrAr phtsnmg our aCtitIes. the Governors have ¢offjidertd the Chariry CommissJon'% wdartce Ot) wbknc kntfii. thcludth8 8dt trub]ic btntfitr. runNng a chanty. (PB21. The key 0CCuYe5 for 202312024 lie the Fame 3.4 the current obiectsves. These are". Tts proudlv wnrJJD x gTow¢ng aU-wLs hoo] wirh our M¢th(MJb5t fourtdaoon ctnttal ro our ethos To continue io w ro a ze wheie wt can fidfii and SDll dtbvtr our bewke educational offeiLng To Moder8£ out teaching enwtgnments actoss all aspects OC the xhoo]. creAiing and deVelong 4pa¢e that will mLKimis¢ 8d.centted ie To develop and Jmp]ement a focuk%ed DkWtai knatmng srratt where pup have a $imdar de¢¢ tsn whtch io ie4m. ¢]n8 opporrutuTr 7gith ¥ unifomiiTr tha¢ wjll ¢nhanct th¢ %afernr and secutiry. fot To enhance the %cknoL$ well.bein¥ PrnViSK>n Jn ordet to suppott pupil4 and gllow them to gtow in COnf¥n¢e #N Jndiv]dU%. Ther l&rn (o ¢e $ (yp)mitUUei nd deT1X>[¢ der¢tminatioA to thcjve Ln all A%pects of the ]ives. To Conrinue D) Jevtlvp awKI er)h#nce our ftesjbk #nd full boardthg offer for and focw4 on tfLsw that we wiv EaffldF whi conrxiknte 50 to our cvJtur41 th"vecs1 To c0nuttuouY Improvt the Ststh Fom) offer br upon eXOttrtt 2nd OPPOrn1[ieS created by the recent renoniitsn To enhance StafF Development a1 tAtration opPonItieS that will ensuLe teachmg excellcnce acrnss the eurnculum To wtsrk with thr OQ.4 irt Shatt the lif¢ion8 IfIts of enS)0d thLYwh cateer dCe. mentotmg And appcopnate 4upport FINANCIAL REVIEW AND RESULTS FOR THE Y&4R TO incorrung re.41)urces to £12.946 totsi resolc expended a[ntsng to L12.713k. The Dei operating Le%ult of the Group for the Yeat W2% * 9]lu% of £216k (Jnc1mS net 89ins/los.qe% on Lnve5trnent%l P022 £467k surplus). Totsj EuAd$ FAve JrKtttsed in value £216k. The 21 tes£rvcs at 31 August 2023 were £I94k. £l,OiSk re]2tes to the tevglualion reserve, £49ik cesth¢ted reserves ind £23 tepLesents share CaPLd. The rtiijainder. £J7,754k. are genergl reservc.% cepresented by fLxed a5Sets. rNad¢ up OE knnd and buLidin85. Stsff P¢Dsion Scheme5 Th¢ 5chotsl recow%e% £26k of pensiott proVi%n on ITS Bthe Sheer in rt12TKM) TO the closed pension scheme. Thi$ Is fi]]ty atrriburabk ro The Gcomb Pkn Per)$ Tr Scbtd wiji VIeW this b1kn.ry ort art basis. Reserye$ Pob¢y Free ceserves are defir reserves w"¢h #rr frtdy avaibbie #nd cxtlude re%rricred funds. de%wE¢d fiJJYis •nd any fixed assets. In coMEA other dePendent sch(M)b. the GovemoLs have mvested Substanti %ums Lnro the School sire iti iecertt ytaTr. 4nd have * cOt)DAW Progr of refurbi%lunen4 dtvelopment investment to develop and rnnIn exceuenr faii]irie5 for our pupd%. Mthough the flee serveS are ar a ne&Jtsvc kJan¢¢, this illuqttates the extent of inve5trnent in the School yich LS common practice by mdependent.h0oL% which have 10 finance thew t>wA capitsi inve$rftnr plL4 The Govcmors consider thaL wen d)t value OE &xed ets owned by the School luKluduJg soffle a5ers Tiot beg utili5ed For coie Sch1 need5), the avJilabk bankJng f#ubry. and the irtc£e2qe in cutLent and projecied studeni Lous. thexe Js no need to build up 2 free teseThTe. The Governors tecwse ihaE Ihe level of teserves flucDJaie< dutmg petJod< of Lttvtttrntni itt the Sch¢x)l and atranMeI4 Wlth ou bank are m piacc to provKl¢ an adcquare 'safety nei. when aT¥J if reguwcd. The Reservcs Pow icvicwed #n annu21 ba%L% due consNkrAtiOTh of tisks. Donaiion6 Restricted Fuods The School has been extrerr*li fortunate to receive bequests. donaiions and [ts over many We%. The School received non des1#t¢d doThaty)ts% of £79k oveL the couts¢ of thr yt2¥. 12
QUEENSWOOD SCHOOL LIMITED ANNUAL REPORT OF THE GOVERNORS fot the year ended 31 August 2023 RAsk Managernettt The B(yatd of Govcmois is Lesp(xwble foi the 1Nnagenl OE the nsks (aced by the Chxnty. A RJ5k R¢gJsrtt ortd Ftsmewotk. dergJ]irtg sigmfKnt risks to the succe5sfid contmuiry of the ChanLls 0"eCts. ts rnaJnt¥Jned. Cort%LderatiDn of mdId1 nsks Js dekgatcd to the zppropnatt CornmLtttt. which [C¢v these on 3 cy¢IKal bw$. The Bootd then revitws th.is cenrrdlly on * knjs. The key conttob used by the Ckniry indude.. Governor ovets4ht Bisk Frarnework A8e]s and M)ur¢S for #U Boar<1 yl Comitree Tem)% of Leference for all Comrt)itttts StrategLC Plan& budgetmg ind rnaTwnt ccLwn¢ing protedure5 Esrablished orgafti52tioJui sttijctute. ck2r knes of and apprnpnate con5uILLuon Fomial wntten Pths Cleac authoDsautsrt ar¥J approval kvels Vettrng priKedutts 2S Lwtjired by law For the protectron of the vujnetsble Through the e%Trbbshed n5k trAnagemmt pro¢¢durt%. the Gtsvtrnots #re %ausfwl that the major ti%k% idtntified have been adequately rnitygaied as fat as prActi(gb]y p0SbIe. It iecognised thar syste18 ¢an tsniy providt reawnlblt. but ng12bsolure. Ossutartce th21 xrAjot n5ks have been adequately rnanaged. Kcy rLsk% Lnclude: Any $iThtyiiort which would ve Iise to 2 declitie pupJ] toll Sch1 revtnues. incle5 the direcr 3nd itlir¢cr unwact of a recessry exccswvc Jnfiatic¥n. b[1¢[¢5[ r4rts kn8het ¢nrIgy cosrs The remowAI olch2auble sraws fot Jndependent 5chooJs Changes Jn the UK economy or an oveL5ea% econ(xnF from wlu.ch the khts)l ¢its LegilaU or fjs¢ai changes. eithcr widun th¢ EdvcaEton [0[ 8cner4Uy ot the ts]dqod¢nt schools sector rrK>ce specilic3Jiy CompeDtiort frotn othei PTovJdeTh of i1thpdertl schoDI cducaDcAI A wficant cyber-arrack which involves the loss of pttsonal data and syufjcandy jfftpacts the operatym and teputiOn of the school Go8 Concern The Govtrnots haye corLidertd the financial OF the the level of ftte Leserves. hqdIty, the 2023124 budger #¢comwJ4 cash fiow foR¢a$4 rogedkt the lo itnn su28}C pjan and the level of gdrnisqLons fgt 2024/25. A% a confeguence. the Tn]steL4 bejieve the group L& well p]a¢ed io manage ¢[% busitte%s Li%ks ucce%sfully 2nd that therE art t)0 MatIAl uncerrainties in yplying the go8 concem basis lor the preparation of the accounrs. Ststement of Disclosu w Auditors So IAr as the Govemor& are awarc. there Is no relevant wjit mformation of which the Compnfs ¥udiror4 are uwate,. aNI The GoverrL015 have tsken 2U thc &tep.% that ihey (Mt to have tskcn Dlrectors in oid¢r ro o)kt them%¢lves 2war¢ of arty relev[ autht kn]form2tt0rt #nd to estsbiLsh that the Ci)tnpany's au(btor% are awate of that LnFortnaDon AudilOI$ MooLe Kingston Snuth ILP hgve mdLcated their willin8ne5S to conii¢we irt ocficc 2nd, in ccordnct with the prov]sJoo% of rh¢ Companjes A¢1. ir Js pwp05td th21 thty br tt-2PWted authtor4 for the eAsumg ye. The Strateyc Repory which form5 part of the Annual Rert. approved by the Governor5 in theLr cp*city Dtre£ttsr% in compatty Law of Queern4wood 5cbooL 13
QUEENSWOOD SCHOOL IJMITED ANNUAL REPORT OF THE GOVERNORS for the yeat ended 31 August 2023 By Ordtr o(the Board Ian Williarn Clcrk fo rbt Goycrnor Date- 20 Marth 2024 20l415.IlGW H J de s06*¢eZ Chair of Governors Da¢e- Mar 20. 2024
QUEENSWOOD SCHOOL LIMITED INDEPENDENf AUDITOR'S REPORT TO THE MEMBERS OF QUEENSWOOD SCHOOL LIMITED Opinion We have audired rhe fJnanci21 st2Eetrnts of Quttnswo¢xl SclMx>I LunLted (the trarenr ¢haur3blt compart 2nd i subsJdJalle% (the group) foi the year endcd 31 August 2023 wh]ch comprL4e the Gtoup Statement OE F][¢11 Activiri¢%, tht Group and Parent Chantable Cor¥Jany Balance Sheets. the Group C#sh Flow Srartmtrtt notes to the fJnanc]al srAtements. Includkng %]grnficni ac¢ourJon8 policies. The fJr&ncd rep)rtsng frarnework that has been aPped thejr prepar4tKn 1% 3ppb"cibie Jaw UNted KJngdcun A¢coUpu Srandards. ifKluding Finanal Reponing Standard 102 Tht Fin¥ncl Rtpow Standard appbcable Ln the UK iTrJ Rcpublic of lttjattd (United Kingdom Gener211y Acceptrd Accounung PrActice). In ¢)w opinitsn the financial %1>¢0. ve a t£ artd fwr of the ststeof thegroup'5 3ThJ thr parentrhalltybk coE)yany's aff2LtS as at 31 Augu$t 2023 and of the 8w's incommg te)tteS and appbcatyon of re50UfCt% Incom¢ atml expendjtutt. for the ytAr thtrj ertdtd. have been properly prwed irt accoLd2C with United Klorn Genexa]ty Accepted Accovnting Pracuc¢' have been prtp#red in ¥cordttc¢ with tht r¢quirem¢nts of tbe cor4mri Act 2(M)6. Basis fot opinion We conducted IM AudLt Jn xcordance Internatiofia] snd0nAUdiutys IUK) OSAs(UK)) 2nd appbcabie law. Out iesponsibiliues under those S[dI£d5 a(e hjrther described the Auditor'5 Res"portgibiknTie% fot Ihe audit ol the fioantjal sratetnenr$ section of (X tcpott. We ate tside[dertt of the chanub]e company in accoan¢¢ with the ethic requirements that are Lekyant to i)uc audit of the financi %r4temenL4 in the UK Incl the FRC'S Ethitsl Stsndard. #nd we have fu]fJlled out other ethJc21 LeRp)Asibilities m accordance thtre rtquirtments. We bekneve thai the auilii tvidence we hvt obr2ititd is sufficknii artd 4bpriynate to provide g for our op)nsCW. Cottchjsiow tel#ti to goi concern Irt audiw the fm2rtCi21 sttement5, we have concluded that the Lwstee5' of dxc 8W8 tonctrn basis oE2ccI)unDng Ln the prepaxatstsn of th¢ financ sr2trm¢nt$ LS approprtiatc. 4ed on the woik wt h2v¢ Pf0M]ed. we have not identified any Tnateriai unttrainries reburtg to evenLR or conditions that. indivjdually or ¢olltCUVcly. may cast SLwfJcani doubt on the group'% and parent ChlbI¢ ¢omp¥rJy's abdity 10 contyrtue 25 a Boin8 conceLn for a pe11 of at last Dve]vc from whtn the fjnartcjai statements Are
uthoIised for ik%ue.
Iht r<sFnlbijIrL£S and the resy)nsibth¢ies octhe ttU5ttts Iwth reTe(t togthngconctm ¥rt dtscakd irt the relcvant seCtson OF thi ceporr. Othet infornlation The OTher infomyouon compElSeS the infomutton ithd Jn the annua] report. other th¥n tht fioancd %r2iernents and ourqudittsr's ieporfthereon. The rnjsttts ate onble EOL the othetJrLfocmation contsined ul the annwl rtpoLt Out OPon Ort the financial staternents doe5 nol cover the othe( (OMOn a[. txcept TO the extent othenv expb<idy srared Jn our report. wt do noi txptess any fotm of &%%urance conclusion theteon. Our responsib"ty L% 10 lead the oth¢t inforniation do] so. consLder whtrlE the othtt infonlLqtiOn is mateY Jnconsjstènt the fu]An¢iai stsrennr$ 01 out knowledgt obtained In the Clmjtse oEthe audjt or othe1¢ app5 r() bt EttIlly MStared. If we Jdenttfy Such mateiia] cOnsISten(le4 or appateni matemal miqstatements, we *r¢ reqwted to deteimLne whether theie a mareKd tw$surertrtt rht fmanciai $tsiement4 thetrLselves. If. based ort the work * have perEorm¢d. we conclude that there is a Tnatu1 InstAte)ent of thi% othet Jnfolln2ti0n, we xe Ltquired to rert thgt fact. We have nothing to cepott In thi5 rtwd. 15
QUEENSWOOD SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF QUEENSWOOD SCHOOL LIMITED Opinions 00 oil)er matters prescribed by tht G)mptiies kn J106 lrt out oPjnLO bd on the wotk thmlettaktn iti the couts¢ of the audit rhe Lnformitiijn gjven in tht srfaiy and the tftJstte4' annua] report foc the finants¥J ye¥x for which th¢ f)n1 %otemtnr% prepared is ctinsisterjt with rht fitsn %tsttmertL' )d the strategjc Ltpott aThi the ttusttts. annual wott have Ixen pLcpared m at¢ordance appb"¢able legAJ f¢gwremen Matters on which vle are tequittd to rtplrt lry exception In the bght of the knowkdge and under$tsndg OE the group and wcnr chantsble company ond ihtts ettvitonmtrtt obtairted Ln the of the audit. have Kienttfvi MInal mLSSf2tetrnts Ln the strAteC reportor the trLL$tee.' nv•l Itport Wc knye notn8 to report m respect of the fi)IkMng mittets whete Comparnes Act 2 requirt% us to itptstt to you if, out ¢)pirth) the p2renT chantsble comtmny h25 not kept adequate and Sufficient accouniing records. or rewrn5 adequate for ow audir ha Th)1 bccrb rccetved from brAnchc5 not vittd by v5." 01 the parent ch2£itable companys fJnaticia] strttrnts att tM>t JA agteernent the 2ccountsng records ind rcwrTL%. or certwn discliisuttq of rDJStees' remutttgtion specified by Lgw not mide: or we have thJt rectTved au the mforTntion 1 exp]an%rioTts we rt4uue for ¢)ur audit. Responsibilities of tnKtees % exPlned mote hAlly m the rnjstecs. tesponb1ileS ststernenL the ttustecs Iwlx) att ajso the directo of the charirabie company for the putposes of company ]awl ate tesponsibte for the pttparaDon OE the fJn2tkcial staternents and for betsjg satisfied thar rhey gve a and VKW. and foi such irntern control the trusrees dtretinine Is necess3 10 enable the prep¥ntion of financTrai 5Utennts that ue frtt frotn nute[1 [[¢[¢nt. whtth¥r due ro fraud OL extor. In piepallng the fjnanciai .4ratemcnts. the twsteL% att re5pofLsible foi a$5&5$[¥ rl ytsup and prenr chatirablt company's ibi]iry to continue as A gomg concern. th"5clos1 a5 applicAble. m&tter5 related to going Concern #nd using the SO CotM b¥sis of 2ccowiung w)iess th¢ tr%[¢¢% irttettd ro I4dAte OL parent clmtitable compatty 01 to cease operauotts. or have nts rtsJisti¢ aiiernrivc bur w do $0. Auditor'$ respowibxlities fot the audlt ofthe fiDDcial statements Our objectives att to obrain regsonable assu(ance alx¥Jt whether the financial stsiefflents as g who]e are free fcvm matetiai misstatemeft4 whether due to ft2ud or etrot. ld to Jssue an auditor's teport that includes out opjrnon. i$5urAncc a lJJ8h of 3s511rJnCc. knt is nor a an 2udJr COlUctca in accotdaftce wjth ISA5 (UK) alway detect a rnated trernenr when it cSts. "s513ments can a¢ from fraud or error aDd ate considered Male if, u)dividu2Uy ot Ln aE8regate. they ctALld tttqornbly be expected to influence the econo[¢ de¢L%ioll5 of LLW5 tthen on Ehe basLS of thtse financ As part of an audit Ln 2ccord2nce with ISAS (UK) we exemse plofessnal judgement and profes510nai 5¢¢pticJsm th1ohOut th¢ authi. Wc a150". Idenufy" 2nd a%%t5% tht ti%ks of tydEt missTXtcmtftt of tht fthat)cd st2tttntnts, whethtr due to ftaud or error. de.sign and perfomj au(bt pr(KedLWCS tes[MmYe to dx)se nsk5. and obtain aLdLr ¢wdence that L* $ufficienr and app[OPLte 10 prode a b&%is for (Mjt opJnK>n. The Liqk of nor deltIng a matetial missyaren( ttsulung ft(hn fraud Js hher fotone rts ftom ettot.is may involve rollusion. foyry. inteniiona] orm5$10lls. m$[reSeIloI or the ¢weuide of ujtrrnai eontrol. Obtain an undec5rJnthrJg of lniem ¢ootrol ielewjnt to the auth"t order to desw audit pr(Keduces (hat art appropLLqte in the Ccks(C5. bJt t¢ lor the putposes ofexFLessi an opimon on the elFtcttvene%s of tht youp and Parttti chatitabk Cony.5 ititud tortuoL
QUEENSWOOD SCHOOL LIMITED INDEPENDENf AUDITOR'S REPORT TO THE MEMBERS OF QUEENSWOOD SCHOOL LIMITED Evaluate theappropnatene%s olaccoun1 pohuLfi used aThJ the reasowbknrss of accong tstimates 2nd Leiated disclosures made by the rLusttts. ConcIle on the apptoptiattness of the tLlJStees' of the gomgconcern bas]5 of accounting and. b95¢d ort the audit ew¢krtce obtsed. whether a m¥teriaJ y<[[alry ¢xi%ts rtLred to events ot coftditiofts that tnay £5r %igrufLcanr doubt on the group aT¥J parent ¢haatsble coryany's #biliry to continuc a.s * goirtg cortcem. Ifwc Conclude thai a mar¢oaJ uncertainty we rtegued to draw gttentson iti our auditod4 reporr 10 lated disckn"ure5 Ln rh¢ ftsmncial st2temen¢$ 01, if sh d]sre5 are irtadtquate. to mo(bfy out i)ÈTrJny)n. Our ctsnclusns are bed on the authi evNJence obuined up ro thc date ol out #uth'ror's tOrt. However. tveftis COrtdJtion$ may cause thewp orparent chritsbk company cease to conunvt as a goirtg concem. Evajuatr th¢ overlll p1esentstson.srnue •NI conrenr of the fin4ncd ststrments.Jn¢lvdJn8the disclosures, and whether the fncjal srAtement5 represent the Ufwjerlpng tt3nsa¢Do eveThL% Lrj o m•nnet that achieve% presertt2ti0Th. Obtain wfficient appwptiats audit evidence regatd] the firtanci InfornlI0ft of rhe eThtitse5 or b4tsine%s acawlles wjthin thtyoup to e.Ypress an opirnon (m the consob"dated financJJJ sraiements We 3Je r¢%porL%Jble foi the di[tCD0 SLy>eDTrsJon Frf¢)mwKt ofthc %PiL We temam solely rt%potib1e fotour autht report. We communicatt with those ¢hawl with 8MInCe te8ardLtt& othet mattet5. the pLmed scope and timing of the udir ond $iwficr %j1[ 6ndthgs. rty dtfioencies. JD jntern conttol that we identify durlljg ouc audit Explanation Is IO Twbt extent the Audit was considettd capblt of deti8 11ttarities. its¢luding fraud Irrtgth"ut4 incknditig fra are it)stnces of J)On-coo¥b%nce with lav etions. W¢ design pLrxedures Jn ne w)ih our responsibiknDes. oudined aTrxJve. io d¢reci rnareri Trn%sraremcAL% iti respect Of Jric8thatJiie%, including fraud. The extent to whch our pttKedute5 are capabk of detecttng reIan0c.. Inclvdth8 frAud LS d<ra¢icd klow. The objectives of our #utht Jn respect of haud. #xe: entify and <%% the iisks of trtaten8] mJ%%r2r¢meni of the fuwLCLqI ststeTnenr5 due ro Ir4ud. to obDJn ¥ppioprLat¢ 3udir eviderttt the a%4t%$ iisk5 of marenal misstaternent due To frau(L through desjgfting atMI rykmenong appropnare reSw>e5 to those as$t%% n.%ks. arKI to r¢sportd ¥wOPr[eIy to 1(C5 of fla or SPe¢red idtrtufd dw audii. Howevet. the ptLmgry cesponsibth.ry for rhe pLeventM)n and dctecuon of fraud iests th both thosc chwd with ge£anCe of the cknitablt company. Oui 4)pr(rAch a% (oUow5.' We obtathvd an nderSdgof the i¢ga] and r¢wlatory requtremrnrs ppJi¢2ble to the chaurabk company and Conde thaT the Most signL6cgnt are the Compan5 Act 2006. the Ch#tiDes Act 2011. the Ch2tiry SORP. 2nd UK fan£&I iepoTW¥ sfxdas as Is$ by tht FJnanci21 Rep)rting Council We obilled 2n undeT¥j8 of how the ch1t#ble compatsy compknes tequiternents by discus5n5 with wAnagemenr and those govemance. Ve a5%es4ed the nsk of Tritenat mLSStatennt of the tLnan¢d 5t#teitJettts. includ the o%k of maieti21 mi%%r2t¢ment due to 2nd li mi8ht oc¢w. by thscussJon5 m&ugernenr And tho%e haiged wth gowetnancc. We illqULred of rnanaryt and dK)se chatBed governanc¢ 45 to attT known tancE¥ of non. compbance ot Su%¢t¢d n-Ckn8n¢£ ¥ryi ttyLaTions. Based on this we d8n¢d 5prcific apprOPna 3uthr pmcedwes to identsfy iTr4rrt£es of non- c(mpbance wth laws and reguLations. Thi5 Jncluded rnaking eriquitits of mIr@eMent and thSe ¢hat8ed with tovttn2rtce arLd tsbtiinL addiDtxd corthcauve ewdtnct 4uired. 17
QUEENSWOOD SCHOOL LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF QUEENSWOOD
SCHOOL LIMITED
There ate inhetenihmiouons in the ¥udir procedurts descllbtd aknve We le55 iLkely Ecome of tanC
of rtort-
Queenswood School Limited
Conso]idaied Statement o( Finatta Actswties (Jndudtsig knicome and expen&"nlle account)
Foi the year ended 31st Av8V512023
Totsl
To1
S)22
Fund5
INCOME FROM:
Donauon5 and Icy
Conso]thted Ba]ance Shttt at 31st Ay5t 2023 No 2022 FIXED SET$ lanybl¢ •syts io 3.183.721 555.196 23.lQ8.43? 374,507 38.917 23.48? 939 cuRREr ASSETS 12 14 48,089 663,071 647.540 .969 J91.441 802J Dcbiots La%h ai bmk Artd in hand 1.358.7(K) 1227,766 LIABILfTVES C.tcdJiors." Amourtis fllhry th wtihitl one ytat ,YJ4,8% 3.413,151 NET CURRENT ASSETSIILIABVLITIES) 146,156 2 185 365 TOTAL ASSETS LESS CURREP LIABILITIES 21 J91761 21.297,i74 CREDITOR& falli due •fter morc th•tL one ye Ixl 1116i,1361 ProviKion 16 25.896 43.605 TOTALNET ETs 19 304.403 19.088.773 FUNDS OF THE SCHOOL Clled w $hu¢ c¥ital Restiicted funds Uftrestric¢ed-. RevAluauon ¢cser¥e Gcnc 19 23 494.677 23 7il.436 19 1.054.856 177S4 847 1.054.856 17 282 458 TOTAL FUNDS 19.JM,403 19,088 773 20 March 2024 ptxovd by thc G(pYctnor& Jthi uthoti5cd f(x LI5 ............... ............... d 51Wtd on thLii FKhalf ty": H.J.dcsau5Jr£............. CtympAny Rrp%w41ion Nth tYJ>1056t The aCcompanym¥tsC$ fu¥m patt olthcse saicmoi
Balance Sheet at 31st.4u8USt 2023 2022 FIXED ASSETS Tble assccs Jnvcstmcnts io 2AIB3.721 555.196 J.108.432 217M917 ?3,68? 939 CURRENT ASSETS brock Debiors Cash li bank and tr) IKnd 12 14 48.089 33,969 348,728 331133 846.i63 714,830 LIABILITIES Ctcditori.. Amounts (81¢ ISA) NET CURRE (LIABILITIES) TOTAL KSSETS LESS CURREKt LIABILMES 21.154214 •1.055.140 CREDITORS: Am(bWlts fxllmK d afier mort Ihan one ytat 15¢) 32.462) P.165,1361 PtOViSiOrt¥ 16 43.66 TOTAL NET ASSETS 19,OSS.8i6 18.846.339 FUNDS OF THE SCHOOL Called up $h4ve cgpit•l Re$triCted hjnds Unte5ifieted= RCvIJUn IcSL'fV< G¢ncral 17 494,677 75l,436 19 I54.856 17.S16.J(N) 1.054.856 I7.tHO.024 Total Fwthd5 19.OG5.856 18 846.339 A%perni¢d by s408 cornw Art thc prcstnttd if%o¥m inc¢bii¢ HM(fflciit4nd tdqf£d notc% Thc compY'S wryJlu8 for thc pr £219317 ra)2E £467.&64) Apwvcd bi. thc Govcrnor #nd iuthoELcd forissue r............... ..... .. ... .. Jnd thcir bchaifby. Fl.J.d¢Sawmaw4......... CompAn}' Ilwtraty( Nu. (KIJ40561 "lThr a(CDThPnnS rt1x form vfthese
Queenswood School limited Consohdated Cash Flow Sratunent Fw the Ye cnded 315t August 2023 )2Z Nti Cash Eencrnted Irom operaunE aaiviiics 597Jl I14.959 "'IXL,d AssLt Adthiitms Pwchi&C of InYLStrnts Pr(Jcas fr(xn sJ]c of fixcd i&fcts Pro¢ceds f[L 5alc of Invcstmcnt4 Movofnrnt In IV£srO1t [h lnvcfitmE 1nciwnc Ntl cah geneTrttd frorn/iud in) iIiveiing ac(iViUeS 73.5e4)) 126.OJl 312 28.139 471 21.747 (769.6861 166.91 ,97B 120.2211 (517.980) (755,8 CasTrL Altsw& frorn aL1ivilies TiyinLmt rjf Ix)rr(wJift Net increaytl{decrcw) in ash calh t4 .144 2J4,1 12)4.l441 Net increAKelldeCfe¢) in cAsh ryUiTalents 1154,8161 ?4.987 Cath and ¢sh equivthnts Ai the start of the ye 1112J56 777,369 Calh and equifdltrtts ai the end ofthtyt 647.540. 802J56 Cash and taxb equiwaknts eOASiSts or.. Cash in han(L and at bk Ovcrdvzft &(ility 64?.YO 647.540 802.356
Noies to the Fanc Stitemenfs
Foi the ye2r cnded 315t Awl 2023
Ac¢ourtling polici¢É
Company infomuli¢)
Thc QOeLiSw Srh(d fthe djatityl is lirniKd bysh3teS 3ndiwymrdin nd Wa(Q& IThL Wstercd
office is HirfKW HtrtfUrdshK AL9 6N
Basis ofpt
ertswood 5th1 Iirniicd Noies to the Financi81 SuteJDeor5 For the yeai endtd 3151 Au8us(2023 {continwd) Donatiolls DortiDons includtdin thc 1 whjth tlyarc rcCLiVtd r¢ indLwJed as"wJtL¥tricrcd fwid5" wil¢56 othcNrysc supdaird. Dthiaiiims teSth(Lcd b)" thc s7¢ vrishes of thr Takoi to-rorftictcd fittth.- Exptttdilllrt E%pLtythDJrtis accowied for n cCrtIS li is rtC¢yis¢d thLYC 15 iconstwctive Of lvl OblitYn to pai for exPLthI. L'wthw¢L' apwDuncd tO¢¢M£iwiLS bad utimTLd ?m¢)ynt 2ttybupbie to ihJi in thL }i?r. "rh¢8¢ eMIl% alc Haff Tknnr gron Ikxx2XU &% 'lTh¢ irrL'covetabk ¢lLyncn¢ ofi'ATi includcd with thc of ex5¢ to which it ¢elrL¥ C Taxation Und(Y X.coowb 505 of the lficomc and T•M¥ hct 1988 the C(Knwy cxcmp Etarn (Ertain Izxc5. Fdl aciDunt Is oftsx rr¢thts a¢tsthin8 ro thhi•ly(hi wjdcr PfrA (kvthth lTh¢ cY'S is SutVLtoCoTPDtaiion Nuprovi¥ioi 1$ mad¢ f¢)t dektted wlcr FRS19 is the rrbn8sthbary E.¢tic$ covcfiants it¥annl tuablc io thc Cryy. H Tanwbie fix All tsn&blc fixcd asscts hcld by thc chty Irc for duntsbk Ifc shovm irt thc Shcct t<oxlc% a£cumulced dtpr¢ti#ti¢ffi and ccumulAltd Imwrnnt I.. sstts more than Ll.(O) are cpiuhscd. tho £¢gI¢s% Ir¢ wtitlthi off in th¢ ycxi oFx9UtgDc• ¥nless ih¢y flym pff of112r wjccr. DcpftciatioTh Is providcd on all nwblc fixL'd asstis (m i suaJ8hi linc bu¢suiculatcd iv ofFtht over bvc¥ #s folhiwj.. Pljni Mot Vchitks Cwyurer E9uipmmi Fixturc5 Ovtt 5 jtlts 2 Thd 5FtS ¢eL.hold knnd And buil&n8S gxc knttional assLts )d icIA"lTh¢hr vaJ1$ Mn{lled b). i hjl Pfogramm<' of rw¢ ¥nd ruiovarithi And the 1¢ pr¢sult Vglue for Insw¢l. of approxim2tdy £81ffl. Th¢f¢fote. nopcovlsil fur dCpr¢aatm (XJ the fttthDhl 2fid is ffladc. Thc F[hd bWld1n irc rcvicwcd anfiuxlty. for any potential Imm¢L All ofthe chwry Ye hLqd (ot d4thrabk v5c Nrith th¢ uceMiLbl ofth(w hdd bYQUcLx EntPriS Fixed asseis iTIYeSlilltnis l.iircd InvcsDnctsr art ¥{ mark¢[ ¥lut #i year The )FA KdeS 1$ed aTh4 and knsc% frorn ihc ¢LwaIur1 of thc irJvesmKrs sn )u. TnietCSi> 10 hubsJiafS¢$, assLKlXi )d j¢xity CthliTolltr] th)UDcS art iililly ffJ(aSUrt%l ai cosi 9rtd 6ubsegutsid}r ffl$ed At Osr les% iny iccumulsr¢¢J loy¢ The inVtsrm<mis ¥e •SS¢SXiJ fot Imprrnoii ar¢Jch r¢wtyn8 an ifflpitrmcrti Io&v5 0¢ ¢eVets vf ¢rnwirni losge5ar¢ f¢¢wised immeY in the SOI.h. Sioeks SvKks arc vglwd 91 thel<Y&Yx of cosr 4ryJ r¢alis•ble va]u¢. Rcn¢a15 pzyibk undcr OPftxtin8lczSc& ith[1d?Y]Ct inttnDVc reth%d.art (hard tothc SOFA on a strn8hr l¢nt b%is over th¢ rni vf(hc i¢lcV3nC I cX¢cpt whcrr noihrr systantK TrxS IS WLyrrnuuve tsfth¢ timc prtcm Ill ich ¢¢thiomic trKc6r5 the ILxse 4$5L'i Cl$ 24
Nores ¢0 rhe FiftwcLal Siatetnents For the Y ended 315t 2023 (coalRnued} FiuaD(ial ASK .1 h¢ Lornpgny ¢¢1¢ io wly the 0VIs5 OtSE(tiOn 11 'b4yt 12 Vth¢'r 2(?1 Instnimcnts IssuLS' of FR% 102 to Ill uf its fin2nozI I5¢1111C[ Finmciaj wcrs Are fcc01$¢ in thc 8tstwnent of $117( wh¢n thc c(npatty become5 Party ro th¢ tontractu Df Ihe instrumcnt. rinanual assers xffjd lbih¢S ale with the ivxbits We1¢¥j in th 6nancizl Stttcnnty vthtn thcrt 15 a lellY If(Cale righi ro sei off the teciyi5cd thttt is intrn11 toscrnlc xnLt btsis to teaiise the #nd Fiiiin¢121 assets alc cli6¢d irtio Ikpd5 on thc ruturc and oFThc 6nl<tI1 XSSLS Yd 15 derthiurt thc wie Of¥e¢Il. Basi< 1011 a[8 whxh Ilde IrAdt Jnd othLY f(teivablcs ush and h11k bthnceA are iniTially musurtd ftgn53¢Uon ptKe ioclu&n8 C05ty and subxqutndycatticd at arrM)niScd cost the ¢ff¢cttV¢ mTe(est mclhi, unlL¥S thc constiwre5 a fjngncitjg trans2tts whcrc thL' Ii11saCtiOI> is mcgsured li Ihc pxcsenf vjiw of thc r¢yLYpts oted it i miikc¢ Alc ofmtCiCsL Othcr finthtial tssets Cliwficd &% fwt vilur throu8h wfii or atc rnci5urcd at valuc. Lan$ and ttctivables TtJd(' di.bttst8, loAns other fcfLYvaWcs th hiv¢ 6xcd ur drfCnnzIt Pxythcnts thrarc nDt quud in acri fflykct Arc clAsgficd a8'1(nn$ Ycwvabk5'. rnusurcd xt amotDs¢d us¢ngthceffectsve intcrcst fflcdid, I$ Jny irnpL InrLYLSI 15 rtCowis¢d by appl effe¢ove iTrtUC5t fot short.tcrrn rc(civknlcS whtn th< te£owit) of mterut would immienl. Th¢ ¢ff¢cDv¢ Ini¢rcu 1$ i mcthnd ofalcuhtmg thc ziiMffli5cd tu5¢ oE debi itt$inJmcnr 3J)d of aJlocAung tht snrLwrirKlwne ove¢ th¢ evIn1p47'lkn cffcttsvc inttrcst L21c is thr rate th&iLttcdJ' ¢bxounrE e5tsfngd fuww (9th rL'ceiws ths(x¥h thL eLtta lifL' of the dcbt mStlU¥llLiIt ¢u thc rt crryin8attyJuoi on Lnsryaj r¢cyityTri. Impaimkeni l?iTYiiicial ¥t¥, oihu than ht it Prufitd irc for mth"uiors Ofirm[lI[cllCh ortyns cndd Financbal xssets art Impi¢ed wher¢ thcte is obVe ¢vid•K¢ th21.3S i ofoneorfflorc cvcnts OCCUrrtd gf(cr the Initial rttUbmiUun of the fmnth21 a&Yi. the esThired fuEurc cath lknws havc b iffrrtrd. IThc MlPiTrnLI kJSS is s¢iobmiS In wfit or IDM. Derecogoition of fipanaal le FinJnci21 isstis arc dcrc(wtfd onl!" whtn tht llBhts wthe tlrws from the as%c¢ ¢yiyr. or it translcr5 the 6nJnoaJ a55Ct and wbstsrttiJily thc nsk54nd of CIiDty'. M Financial babiliue5 Basic fininctil liibilitieq irL i¢Mtszlty InUTcd al tTznSaCliun £. uthIL thc CWIXiryJT¢S 1 6nficingtrznsaction, whcrc thc dcbi In5tfirn¢nt IS mCa5urcd at thc prcscni valur oEthc f]r thscounred at • tiurk¢r ry4rc of1nrcrcsT. Other 6swci•l rlwificd JS thtDugh profiLot Io& te mLXSUred ai hj'r vglur. Other financial kabikn.ties Othcr finzna21 Inhliiic4 zrc t[Sred ar knr wluc, of irnn4acDthi ¢¢)sN Thcy subwndy mtasurcd at Jfflorriscd c05t uSittÈ tht tfftUi¥t Jntttcst w¥th rnNY¢sr cxots)s¢ x¢t(wii effcaivc iryrld bJSiL The cffectivc inreYe8( fflethd is i m¢th(d of dnlSCd tos( o( 6nthcia] lb]i iry and of#llwing InicfCS1 CXPCi75C over the ¢clevAni pcn(xb. lTh¢ ¢ffectyv¢ inier¢5t rntc 15 thc rntc thzt uKd)" thsc(vJr¥ts tstimtttd fijrwc pw¢¢$ thtOU8h thL L'x(1£ lif¢ of the finan<? liibibty thc Initi tctwition. DerecoIE10n of finanaal habilities l-.lkn IiabilittL5 dcrLYW15cd whcTr. nd ]Y whcN thc oblipuTrlS rdbxhu8td, cJncC1k. or th 25
Notes to the Fan{la1 Staiements
For the year ended 3151 Augusi 2023
Iconiinued)
N Employtt btntfiis
ofshtyt-ttml cm[knt btththts art $CdaS•lb1Iiry ¥)
The ¢os¢ of Iny h(Mai' recod irt th¢ poi(xl Én thirh th¢ ctnpl¢SyCC'S Scrc¢s atc reutvcd
IrrrninJ(MJa bcncfity rc(upiscd irnTnc&tdy as cxp5c c7$ &i)IDrn4irybli' comfftttcd totcrfflst
thc cmploymthi ufan cmtycC itr prm& kncfi
O RttimDent benefits
Ihc Group to Avivz dIff0thr g(hcmr by Thc TfUSL buth uf thrsc #fc dLfin¢d conthbuDun
xhcrncs Thc ihtsE.thoncS arc held oFfh¢ GftyJp'% f%. lft vnth fRS 102 28.40A
the for thc5c a5dtfin¢d ¥he¢r kn rKJ(t 24 for fiLII dc
CrilicalattounUn4 esrtmaic$ and judgemcn
In ih¢ ipplicgvvft of th¢ cornw}'5 iryountsrLg thr r¢qwrcd TD judg(irti). tstimitts And
Ix)ut thc C[18 anKJurtl of a5ts Ind Im11¥11cS thai att ti)Y apwr f¢txrt oihcr sourcc& "IThE C50matC5 and
a$swiied assum0 3rt nn his¥thital CXWLYce Ir (aci5 that irc Conqldc to bc Actual ro%uks
ffl&y diffcr frorn cstiiriitt
"rhc estimiies 353umptyw$ r¢pvirwd n (In.yxngb&> R£sluns ro ac¢ouDtsng CSDmre5 ¥C recolse
Ill thr Pthod the is rcIS¢ if the iLiSiM it&us (xily ih9rpy4 or in the Fn(Ki of thL. ICW1 2nd rutsL.
pcthod$ if ihe (c510th •ff¢ct$ and fule
Th¢ vtitnatcs and U(pon% vJhKh havc i yifirxnf fisk of x4'usmKn( to th¢ car•m(Xt of J5Kty
attd Iiabljtic5 Are btloW_
CtiU¢ judgemen
Usefvl ecorlomic bvt6
Thc annuxl d¢prctiJtiun IDr Pro. *nd F£mSIDVL to th#n8ts io th¢ (sDmatL%I u5cM xonumic
liVCS ahd ftsiduxl lU¢S of thL' ISSE The usefil <<07TrtC Iive5 f¢gdwl arc f¢-d ).. ThLy arr
untisatiun th£ roll¢h(u)n ofthL'
PrOVi6ion8
Ihe
Notes to rhe Financial Statemenis For the year ended 31 si August 2023 (continued) Int¢)Illc from altable •ctiviti Schaol Ftts CirUSS ftt$ Costs 0[ncTIn8 Totzl bur5antg. hulh1Ps afvjyanrs Othcr di5civAnts 13.783,397 1?.764.0) li.183) 37 .28 1 441181 341.216 1.410 666 11,3i3 384 Donatiom and Itgaut Unrc%titctcd tetciv¢d Rc5tnCtrd receivoj Incomc 58.624 19 48.44S 804 7&624 i1149 OtherlAcome X22 OLhel IAcomE Rtsoiirtts Rent rccLivablc Profv/ 0) OD di8poyI oftsnpbk 6cd¢(S OrhLY 74,438 19.9)1 147.618 70.953 81.610 ?41.9>7 li2.563 lThvegtmtnt Incohle 2922 UAwrrioF¥A Othcr in(crcSI 11.255 367 On11stcd 1nvcStm(IllS 10,492 Total Inve5tyncn¢ Inco io.oij Expcndiwrr Group difttr ch¥itk eyp¢nth¢urc DLp[{1D¢lri AudLEtits' ILxniJnL11ti0n In¢t uf VA"rJ." For audil-.SchutJl . EntS¢S For oikn serrices 486.932 531.764 21758 .880 4.914 5,052 4.92i 27
Notes io ¢ht Finnci¥J Stiements For the ytsr eotsj 31$1 2023 (continued) 8 Employets a) Avera8e njonthty nunknof cmploytts {fulteq7#Vthij 'lThe Jv¢rJ8¢ ofpmw crnpjoycd bythew th¢ }r3rw Cost$ - Full iitnt - Part 2OZZ 47 25 52 17 47 - Plry tJm¢ 60 179 173 IILt of sttff thJLin8thcytartas 241 z1. 2241 bl of ioral employtt coKs 21Y22 Stsffcos¢s duDn8 tht Yr. balinc5 6,979.649 31927 648.144 773 160 6288 145 62.483 591754 709,910 7.753J92 S¢KixI SCCunt¥ tth%ts .43J.880 hCth & saky. rcrruitmrnl MovLYnEni irt proviw 122,(h58 {17.769) 114.720 1157,74T) 8 $38.179 7.710.365 el EmplDytt Thc numbcr urhi0¢ pd 2022 £60XOi- 00.(#)) £10,1 - £80,(K £.(1)1. DX).(KY) c)0.1. £lW.WJ £lCIJ,l-£1l0,{(I) £120,O)1 . £IX).oYJ {150.IK)1-£160.(KKJ PwsiDn WtiibUtsoThim(xinti8 w £127.766 {22 £,621) wtr¢tnc fof Nlve P)22 F4X) hightt pgrtl cmploytts. NoGov¢rntY5 fecuv¢¢J zn¥ emolumcnts in ih¢ year ttthd 31 3PJ (2021. Jnd Govunors ifc rM)r Includ¢d sn ihc nwi)brr of prrstjns Libpiw'r(i •trwJV¢. Ort¢ GovctyLwas wmburxxl exwsL¥ ifi a)23 £1.6J7 )22.. £858 onc Gwctnorl. KEY P£Ortne1 Kc} fflinat wrt¢l tncly& the GDvcrrN. Ind thc SeThior CxctijtiE whith trc up oftht PDntipl, thc Bursir and thE Tht totsl It bcncfits ¢¢iV£d b)" mwynLIIT KY-Ysonel wty¢ £618.52? V022.. £Y3.8381. FuutmLTrbLYS ofth¢ kes" pLisonThel ¢c¢Kruno&u(MJ in ordEr co ¢ble theffl wunthtr3ke wfic dwies Ear the {%)22.. f4)utl. 28
Noits io the Fjnancial Staterntnts FOE the year ended 3151 Awt 2023 {coxktinued) Anaty$i$ ofT01 Exptndi(Wt 2023 (IT Other Depreciation TotJl Cogt& of 8enerati fund TiithngeypLiithtutc. QUeenYNj Entccpxi Ltyj 110.989 110.989 1593 Chtiiabk A¢iivilieS uc3[ b¢Mrthng W£lfarc Prcmi%£S Tc(hnol 5J6?OJl 799,258 53Q162 139.648 1.617)14 101.535 545294 4)8,372 1.567.919 3YS.873 48B.537 33.664 $907J25 .407.630 591.013 470,i21 1105.851 lJ5.199 486,952 Peosion provi6ion 117.76ty) 117,769) 8 538 179 3 688241 486.932 117133i2 Analysis ofTora] Expcnditure 2ff22 5ff Cos lind Ttinin¢) DtprtLIAtiOIl To1 .1 tdin8¢xJKd1W[¢. Quctn3wfKxI EntcfjxicS L 86J69 86.369 Inves¢ment Man4ernykt Costs 1972 1972 Charitabk ACtirIeS Educatmin and b[thS Welfate PTcrw5CS 'IE(hnol Admini5tratsoTr 5.035.463 633J09 4fJ).692 %)75)5 476.439 1.248.858 251357 394294 29,1Y 5.542,96 1.109.74B ?41,314 371757 1.913,303 131246 531,764 1,515,¢Y)9 103.239 Pension provision Movtmerti 111 Exit Indwdent.*hod pSK khety 1157.747) U57.7471 i.liU.Jb I l.d4).YXJ
NoTes ro the Finan(ial SraietDenis Fot tbe yeat ended 3151 Awst 2023 (coniitiued) Twbk Fix¢dAssety Frtehold IAibd attd Plahi Buildjny Eqwpmew Fi¢ Moior Vehick Toul C¢Jsts ofgenerJiing fitt At 31StAu8[ 2022 Ad(linon5 Dys$ 171112 35ij,?48 21J.692 6)3 596,480 24,496 24110.961 573.550 64.45 30SS At 31x Au8U51 2Q23 Deptt¢ito Ar31s1 Ayt 2022 Chu8e for ihc ¥cat Dy$$ $80.IYJ 28,620,ThS2 3J95J55 124.924 23.6?3 445.898 56.074 .734 XCO? 529 486.932 5J.12 934 1,773 AI 31M 2023 3.496166 4742JB 5.436,341 NCC Book Valur At315t Ayr 2) ??371.934 ?48.461 25.183.ni ?? 172.)1? 159.693 626.015 ISlJ.$82 11.108,432 "thttc IS * fixLd ch4¢ ovei the and 3b(wo Frethokl L4nd and Plant and Buildings Equipt)thi FixLurt Company Motor Vehicles Fiiur Total Cosi Orvaluaiion At 31st Awt XI22 Adthothis rJ.172.Jl? 3555.248 213.692 1.787.1?1 JO&5 596,4W) 24.496 28,110.961 573.560 D¥osds 11ts13 64.45 Ai31x Auyt X)23 22201.934 27 671 580,130 Deprt¢rtiO Arjlst a)22 Cha£8e fo¢ thc DISP05als 3J95,555 124.924 23.613 1.161P76 )&934 1.773 445,898 56.074 5.(X)1529 4B6.932 P41 31M Z023 3.4ty6J66 1.4652J7 474238 5.4J6.341 Nc¢ Book Va¢ At31sr Augwr 2023 21J)1.931 ?4&461 627.434 I05092 23,183,721 At 3l%t All 2022 22.171112 159.693 626,045 19].58? ?3.108 432
(2ueenswwd 5clKX)I tirnited Noiu to the FJrL2nci21 StaLemcnts Fot the year 31si Aug51 2023(rolliinued) Tryble Fixedknell (continutd) Frcchold land ind ll[lin at c05forv1tsI ithtlu(k5 nJ95.421 x 31sr Mafth 1979 rCd Imi thc bxMs of re-InSNrLXntr c05r15 jjlowcC fDr afttt t¢vunl vf Subse4ucnr thspoul In xcothce t..1 102. thts h5 been trc2tixl kn a histonc c()5¢25 11 thc datc of r(mvctSKJn ro tht FLS 102.K)RV. Th¢ hzvr insutcd fm A dcclatcd vajuc of £l(K).l61J44 Im. £92.819.998) FollowinB211 ItrmEnt by thc G¢w£L7K<Or¢$1dc¢ITh8 the vlue of the bJddin8%¥nd thcir 5L7tc of rrpaii, i)01m[ment 11 Fixed Assef IzLveÉimcn Cornpwy L4Sted Listed Investynea Unlisttd As ai I bepTbe( AddiDthIS DisposAls procttds Y4446 2625 P8.139) é.718 26m3 12B.139) 26.023 128.139) As at 31 Aw 3)23 329.612 S.0t2 Cash hcld li mVcStititnis 25.)84 355.196 355.196 Fix¢dAs•¢t Cw La51ed l¥wesimen Unhsitd L4Sied Totol Inve5tmtnts Illyesmnts Vnvejtmen A$ ai I Scpiembei 20?1 Additiuns DISPOS$ p¢¢$ 4J5.Y)5 00.910 ).978) 63.081 431595 6&910 PO.978) 03.081 635595 66,910 ).978) 63.081 31 Auwt XJ22 348,446 Cash hcld invLYimcnt5 26.LKI 26,061 374.s)7 574.507 FTistorial C05t ofli&ftd invc$tTntn lThc followrg tiivesunencrye m EX(¢ss of5•A ufth¢T Valuc @ Va]ve @ 31M Au8 2023 31st A¥ 2022 lffv¢strncJlts AbLrd¢l Ncw Indii Inv I'ru5t Pjc P MOrn Americart InvTn J P mOrn Tndian Inv TtUST Vanwrd lrtve51merti Fun¢]s ICVC Vangu¥td Us Eqry lth Plwq GBPth".. 14cndcr50n Fauro Fuc ind14} lTradt l."w05 ICAV UsD D 18.265 24.120 18.76) 19.240 ?8.193 18.6 ti3.995 15.125 ?8.193 17.930 31
Q$wOOd School Lunired Notcs to the Ffftanc Ststunaits Fot the year ettded 31st Au8vs¢ 2023 {contiDuta) FixcdAssei JnTCstmeA (conriAvedl Thc tumpairy Owns l(MVAofthc ofthc FdloWngsdd1Iry.ivhh inCoryrn ty EDglapd )0 WLs. CoBls ofgtTJEralin¥ fun& FJiE¢s tJmitLyI NtuYt ofbLwness MirL4M[ L>f th¢ l¢ttin8 of Qvrcnswur sch( to utcrnal clicnts. The WJKbWtofaptd Thi tC$W5 wl th¢ tcwlrs ofthis for thr ltstteltvant fittAncil )'tar Werc as Pmfii (or theyear 140.171 242433 L)ull the fifiarLcial yeaf Qkntsnswod Schtyjl iimired ffl•dE lech of£89.918 P022.. QJO.222) to QuLDlSW¢M)d EfiicYw%$ In reswt of facslitjry and Uk4th A159 dunn8 iht ynr Irc5(m EntctPfi5C5 owft2id distribunon of £67.IKKI12021. £.[) toQurCnswI iAfflitrd At thc balkncc shLttdtc Qu£cnswond SEhod iitnjted owcd QlLYnw kntctPnSC5 iA¢rtcd £1859120ri.. £i.oJo). S¢ork• Gro for te51 Fir<141 Jnsinmients Cwjp 274)YJ )J6.18B 207.592 )65,240 blc&qurcd arirnThwd c 3.32? 558 3.244.] 3.273.084 3.].273 14 Debtor4 Ctsnjpany 2022 ynthin pr. 481.544 13XJJ78) 113.173 388.732 423,69J (266.1681 48,663 185,253 481.544 1320,378) 46.426 386,613 4J.693 12fJ6,168) 7.715 183.488 for dDubtfid dcbts "rtade dcbitsr5 Pwzymcnts and tfuL1¢vIllE 663.071 J91.441 32
Notes 10 the Financi StatemeDts
For the ye¥r ekided 31st AuyLSt 2023
(conwiued)
Credito
a) knoynts fa]]1 dutTrithin (Iiitytsr.
Gry
Comp
CLUtcni Insirn¢ts tP"ts In(£ 15¢f)
I fadc rrLxlIttx
bchLxII fc£8 ifi VInCe
FlirL F[ChIC Jnd fm3ncc ixascs
Bank103n
Bjnk OvcrdAft
Othcr fLTaU(th Jua] secuthty a)sts
Other crcdi¢ot$
AitnLaJ4 Ind dclcvTcd tmC
Amounts due iogrow> widur3knF>
VAT pyzblc
40i.015
63.588
196x083
424.812
19l.743
I7195
405.015
6J.SBB
1.96i.083
4?4.812
191.743
1.874.893
4.144
2J4.144
234.)44
234,144
l51356
192.847
326.452
158.182
170.884
151356
19?847
270.804
1.030
170,884
1859
15.8B4
3056
3.431266
3.34 629
bl Mowemtni on dcferyed i(ne
Group
DcfLtttd incomc b¢whT fthygxd
RelvA5ed in ye
Ncw PfoVi510n adde¢l
1.966.103
1.989.239
11,874,893) 11.874.715)
1,941.&)5
1.851.i79
1,966.103
11,874.8931
1.941.805
1.989.239
1,8il,579
Dcfciicd intornc Ctirritd fthward
1033.015
1.966.103
?033015
I he dctLrccd incu1L yeLv1 woé5ck Eccs for (unJrcyeaw%.
Gioup
Comp
cl Amounts fallin¥ dut aftcrthflrt than orle yew.
2J
Schod fecs ¢kpO'ts
(hor)I fccs In
Bxnk ian
rifice $¢
1,481482
IOJ3.015
1.1513)7
lJ17531
1.9f4>.103
lJ85,351
1.4B2.482
7033.015
1.15h,3)7
1.347,531
1.966.lOJ
1.3As.SSI
4.666.704
4.698.985
4,698,98>
IAs& Afflounrs due 4fit1n
hool rtEy dw51t5
School fecs ifi
{40&015)
1424.8l2)
(I,%i,085) 11.874.893)
(254.14
[234.1441
1405,0151
1424.8121
I1,5,08]I 11.874.893)
IJ? 4.1441
1234,)44)
Ftinin
NoLeS to the Fmlncd StatetDents FOE thc y¢ar 315t Au8usL 2023 IconliAued} 16 P810 for liabi]ityu •nd (b¥T¥e COmpY Pension provision Ar I Scpttmlxt (()cctWLII TCe Ar 31 Au8usI XI22 43.665 17.76 1.412 157.74 43.5 17.76 1.412 157.74 2596 4J.665 Thc schwl tCCWiS<¥ 125,896 P022. £43,665) 1E% fdati to the (lAd Pensi 5Ehcmc. Thc pro10n is itty*lNbIC iu The CTIoh Plafi poi9. the wll f¢ViCW thi5 liabi11ty (XJ affl b5. 17 Share 23 Allottcd, tsllcd up and tdty" pwd.. 23 Govcrnix%' 5harcS of£1 ach 23 23 33
Queenswood Sch(rt)l Limited
Notes to the FirtaJ)o Statements
Fot the yeat thded 31st Augusi 20?J
{continued)
18 A]]0¢10 otthe Group NeiAwets 3nJ
Fixed
Asse(s
Liabilities
Pr¢7ViSiOnS
Tothl
Tho nttztsscts 2rc hEld for thc
v31iou5 knds is fdluw5.
Re0cted
Ufttutricted fund4'.
GencrJl (tsrrycs
35%196
l39.481
494,677
23.183 721
8&6J
(hS146
25.896
I1.7
23 183 721
5146
25.896
19.J04.40J
Allocati¢)th o(ihe Grts Nti A6ttfS 2022
Fixed
Totsl
Thc net Issets Jre hLILI fut th¢
various fid$ is fdiovJ5.
ftestricted flmds
Unrtstricied (unth:
zj.io
Goieral rwrv¢¥ 432
374
376.929
751,436
1165.136
43.66
18J37.337
23.10&432
185
1165 136
436
19 088.773
19 Unrc51ricicd Fund5 Movcmcnls
Ai31
Aug¢
AIJlBt
Grow>
2011
Utire51ri
Q$v00d School Limited
Notes to the Fit)at)081 Statement5
For the year ended 31$¢ Augu5¢ 2023
Iconiinued)
20 R111cled Futuls
RestiiC(¢d bJn(ts
Notes to the FAn#ttci Stxienxents
Fot the Ye ended 31st Au8USt 2023
(conknued)
Zl PttssiOA Co$ts
The PensionTruAI- The Gmih Plan
Thc cvrnpAiiy pzrntspifc5 ihe schthTr4 g M[-¢oYcf Yh¢fflcwhth wovydc5 bEllc6ts to Sthhr 638 IXI?1.. 638) IKITh.
ass{ared PirutipaDng tmplwern The schune IdeLxi i¢£[XhrynC thc UK. It IS not [m)5ble the
blain %uf&ticni ififoymaum io D72bl¢ it w icc0 the schtffle Js J iKncfii schemi.. Thctcfoic ir lccounis fos tht
schcmc 9$ a dcfm¢d ¢bnl xhcmo.
lThc hern 15 subicct to thc funthnslrp$lilJDn outlina Ill thc PoisioTr$ Act 2OJ4 whiEh (t into forcc Dn JO Dc¢ember
2MS. Th. to8¢thcr41th issued by th¢ PensLi$ Rwhior Jnd Actiiinl StsndTds issu . the
RepouClln(l1, sei ihe ftyJTr¢wth fllrt¢hnBdtfinod bcnEfit schcmc sn the UK.
The 5¢hcmc t8 clas8i6cd a< i W$t.rrMn
Quttnswwj School tirnited Notes to rhe Fan0l Statemenis For the year ended 3ls¢ Aug1 2023 Icontsnutd) 23 Pen6ion Costi (coni) Ycat thdtd JI Awsi 2023 Ytrarended 31 Au8us¢ 2022 1TrrovJth ttt siirt ofthc yct Unwndins uf thc fac1 (Intcre5t W5csI Dcfiat [[tri{m Rcfflcasurcfncnts. ifflpct offY c1w1 43.665 1.491 119.LXJ31 125 201.412 1,140 141.(HZ) 11.9241 I}foOn ar ilx. iiid of & wiod 25.896 43.665 It0¢ ad expthditUrÈ iillPXU Yeat thdtd 31 hUgt 2023 Yurended 31 Auyst 2022 Int¢tC5rexpc15e RLI))elSllf¢inaifs- irnpxi 4pf An} chy ir• uMPI1¢)nS RLThr4SU¢I'moirs- 2rnMLthL7I W The COnbnl xh¢dule paid In ofknrr SCNC Cosis in mc¢m¢ ¢xtKthDJrt 1.491 125 I,140 {1,9241 ncludcS dcfincd CuntribuD xhemcs and futurtSDWitt C. excludifigiy de6cii t¢duct pchu) to ¢lc6iiL'd bcncfit SihtmcS whiih Irc trtsttd ts drfincd (orthfion St< To bc bj. thc JI AuEusT 3)23 JI Augus1 2022 % perannum 31 Augvst 2021 /• pv arWry Rite of 0.63 lTre thQunt ratc$ 5howft 3bov¢ ¥e the £qwl1 5in¥le thaUnt tatC5 thch. whim to thL tutslro covcry plz conuibuii0113 du¢. wouldwc ih¢ ¢¢$ full AA c(hi)(ntc knd )Itld cUt t04hsCOWit thc 5C rccovcry pl1 'Ilr foll¢)wifigYh¢dui. d15 ihe (kfiur ctsitrllyJ$3<ed betr the cryy Jnd the It lCh yE end .. Y¢ ending JiAugw JZJ SIAU 2022 YC1 Yczr 2 Ycar 3 Ye•r 4 YLr 5 I9,5 7.918 19.(K13 19.CKJ3 7.918 57,495 59.219 60.996 25.854 Thc MUSE rccwic i hiknlity mcasuy1 1% iheprescnc valuL of thr cbli1% Y#bI ihai aise Ir(7 th¢ rttovcry and rcsultirtg cxpciisc ith thL' Ifrfimnc ind cXPLiwknwi aCCur i.e. Ihc th7wndinoFIhQdIx0Un[ * fiiiwice cosr irt Thc P¢riLNi in whith il IWe& It 1$ thE¥e cyntiibuuws thar ha io&nvL th¢ bJlarK¢ JTrutliJblity. 3B
Note5 to the Fin8ocial state¢llts for the Year Ended 315t Awt 2023 Ila) Pert6iOn Co4ts (co[) D¢fLn¢d contribution schtmc Thc 5thod athhts(xKilly optrtiL% * detmed COniJibJutsi Contnl>ut1 bth[ of 5LIY4riihin the s¢hem¢ ate mAdc ro ToTal COnVJbuUOrt5 made ro rho year £l.111).607 DXJg)l. The roiil rrt%ion £uTrbUtiO5 whh SDU Outsun¢thryL%Ai the ycu £94791 (J121. llM>.(K%81. 24 Cawial commitynents Amothir5 crniiricttd f(Jr but dtd in thc fin1tlI statrfftts z)KMthEcd TO )8 for Thewup ¥Jid comw> ty)22 £9,696). 25 fteiied PaityTraFrl1o Dullttg th¢ ytJt th¢t¢' wetc no d(mityonq from'ftustCC5 P)22." 110 dothUOnS frthn Trttsi(sl. Tn ad(btyon thLYC Wrye o donltions from Kcy Manwt %ttff la122". no (knaiiorts ffom Kw. M•wi knft). 39