8EECHWOOD PARK SCHOOL Um￿ED FINAJ4CIAL STATEMEp¥rs FOR THE YEAR ENDED 31ST AUGusf 2021 Company reglstered number: l)0820476 Charlty number: 311068 IAOORE KING￿oN SMrrH LLP DEVONSHIRE HOLISE 60 GO5￿LL ROAD LONi)ON EC1M 7AD BEECHWOOD PARK SCHOOL UIAtrED FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31ST Aur￿lST 2021 Company information Go¥ernots' rew)rt 2-12 Independent auditors, repjrt 13- 16 Statement of fTnancial activities 17 Balance sheei 18 StaleN￿nt of Cash Flows 19 14otes lo the financial statements 20-31 BEECHWOOD PARK SCHOOL LIIIITED GOVERNORS. OFFICERS AND ADVISERS YEAR ENDED 31ST AUGUST 2021 GOVERNORS. DIRECTORS AND CHARrrY TRUSfEES The Governor5 of Beechwood Park School Limited i-lhe Schry)I"l are the Schcrf)I's chan'ly trustees under charity law and ihe directOf5 of the charitable cornpany. The member5 of the Governing who served in offke a5 Governors during the year and subsequently are de￿TrIed below.. tr S W Black" Mr A M Briscoe Mrs J A 8rown M Cus5ans Mr5 C E Cutlert (Vice Chairl Mr G P Freernan Mr J W J Gillespie Mr M W Harnmond (Chairl Mr J S fvbdg50n G E Mairs" Or R J Maloney Ms Y M W£rcer Mr5 L C Roberts N G Scragg Mrs K E Swaine Mr S J Thompson Prof R M Viner CBE Elected 711212020 Elected 7/912021 Elected 711212020 Resigned 171912021 Resigned 311812021 Elected 711212020 111 Education Committee 121 Academic Committee 13) Co-curncular Committee 141 IT Cornmittee 151 Pastoral Care and Welfare Committee 161 General PurF¥)ses Committee 171 Finafice Commiltee 181 Building an¢J Estates Comrnittee 191 Public 8enefit Committee 1101 Health and safety Comrnittee 1111 Marketin8 and Adrnissions Commiitee 1121 Pensions S￿￿COmMIttee Pafeni of wpil ai tP* Sch)ol OFFICERS E W Balfour A M C RKller Head 6ur5arlClerk io the Governinq Body Prfnclpal Address and Reglstered Offlce Beechwood Park khool. Ilorkyate. Si ￿ban5. Herts. AL3 8AW Audttors McM)re Kingston Smith LLP. Devonshire H(￿. 60 Goswell Road, London. EC1M 7AD Legal Athisors FarTer & Co LLP. 66 Lincoln's Inn Fields. London. WCZA 3LH Page 1 BEECHWOOD P*AK XHOOL LIIAITED GOVERNORS, REPORT FOR THE YEAR ENDED 311? AUGUST 2021 The GOVer￿r$ wesent their report and ihe audited financial statements for the year ended 31st Augvst 2021. This report represents a Directors. report under the Companies Act 2fA16 and tl* Trustees. ￿￿K)rt under the Charities Act 2011. These financial statemÈnts cornply with curreTri law and regulatory requiiernents including the FRS 102 Charities SORP. REFERENCE AND ADMINISTRATIVE IPFORIAATION Beech1￿0d Park School l-lhe School" or-Beectrrt*wd"I Wds founded in 1964. It Is constituted as a company limited by guarantee Tegistered England. ￿). (1)820476. and 15 regi51eretl with the Chatity Comrnissio under Charity 14J. 311068. Detai15 of the rnemters of Go*ming Body, iogether with the sCh￿l.$ officers and principal advisers are given on Page 1. STRucfuRE. GOVERNANCE AND hilNAC￿NT Gjvemlng Documents The Sc￿*)1 is gThErned by Its Artides of Association last amended on 5 July 2021. *vernlng Body The Goveming Body is self-ap￿int}Tr4. GoNtrnors hold office for years. whereupon may Èe reappointed for a further five-year temi. The Chair and Vice Chair may a further fTve-year term. There may be no MO￿ than 19 antl no fewtr than 9 GoverTh)rs. None of the Gover[￿r5 has any beneflcial interest in t1￿ company. All of ￿ GONEr￿r$ are members of the ompany and guarantee to COThlnLMJte £1 in tl* eNtnt of a winding up. The School has taken out Director5 and Office¥5 liability In￿rance for the Governots. Recrultment and trainlng ol CThernors The Go¥trning Body. in carrying out lis duti￿. dravo on a wi(* range of dIffe￿￿t skills and eypertise. The recruitment and appointment process for Gobemors selects candidates frorn diverse backgrounds and disciplines. The prirnary focu5 is on provision of educational anij academic eyrtise. wth some Df the Go¥ernor5 ￿Ing Heads at independent schools. Thi5 5er¥es to strengthen tlE relationship beiween schools and enables Beechwood to draw on experiÈnte from other educati¢￿al sectors. The School also recruit5 GoNernor5 to prowde Commerc￿1. legal, estate management, health and safely, marketln8 or financial expertise. Many Go¥rrnors are former parents of wpi15 at Beechwood. When the Schcol identifie5 a gap Tn ihe skills base, or wthen a resignation takes place, Governors propyJ5e 5Ultable candidates. The Chair and the Head follow the khool's &)vernor Induction Procedure, inviting the candidate to attend a selection p￿)ceSS with the Chair. The Chair con51ders the candidate'$ 5Uitabitity agaEnst the srandard Role Descnption for all gownors, as well as t1￿ descnpttron of the vacant role. The Chair circulates the candidaie's qualificaih)ns to all other Go%*rnors for their approval. If approved. the Chair a5k5 the candiijate to attend the next meeting of &1verr￿rs. and the Govemor5 then formally confirm the appointrnent. st new Governors are 3lrea¢fy familiar ￿th the School. bjt will foll¢)w a well-established induction programme run by Chair. Head and BursaT. This irK(wrates the %%vrkings of the GovernTng Body, its role and its restM)nsibilities. Tr* School also offers new Governors governance training with the AssociotTOII of Governrng Bodies ol Independent Schools IAGBISI. or Independent khoo15' 8ur5ars' Associotion IISBA}. As part of iheir induction. Governor5 undertake Schcx)l-skEcrfic Child Protection and Safer Recruitrnent training, as well as receivins regular updates from AGBIS, the IAPS, ISC. BSA aTrd other professional bodies. Page 2 BEECHWOOD PARK SCHOOL UMITED GOVERNORS, REPORT FOR TrIE YEAR eNDED 31ST AUGUST 2021 Or8antsational Mamgemènt 12mtErs of ihe Governins 80¢fy. as the chariiy trustees, a￿ legally reskK*nsible for the overall management and control of the School. The Governing Boty meeis iermly w consider an¢J ratify School p¥)lici@s and long- term developrnent strategy. The GoN*rnors also rneet regularly with the Head, Bursar and Senior Leadership Team ISLTI to consider the next stages of the klk)ol's De¥elopN*nt Plan. The following Committees meet at least termly to o%er5ee the leadership and manasement of the folIti￿ng area5 of the School's provi510n'. The Educatlon Committee, chaired by Maureen Cussans, has (*tegated re5rxinsibilJty to oversee all areas of the School's edUcal￿nal provision aThd o¥ersee5 the ¥wrk of the foll¢Mng committees.. Academic Committee, chaired by ￿ Dewty Heèd Ika¢*mKI. ¥thich oversee5 the strate8ic development of the School's academK wtsvi5ian: CTrCurricular Committee, chaired by the Director of Co-CuTrKular, which oversees the strategic development of the School's co-cumcular prov75ioTh includin8 SF¥)rt. MUSK, drama. DT, Fo￿5t khool, After khool Clubs, co.curncular trip5 and ityJr5" Commfttee. chaired by the Head. which oversees the slrategK development of all aspect5 of the School's lechnological debelopment incluth.ng SCI￿1.5 tjigital curnculum and the authonsation for procurernent of rnajor irems., Pastoral Care and Welfare Comrnittee. chaired by Clare Cutler. the Governor with specific reskxsnsibility for Child Protection. which oversees all a¥*CLs of the School's pastoral care including its safeguarding, child ￿OtectI¢>ft. LMJpiI conduct. catenng, boarding and med￿dI prowsioh. The General Purposes Commfjttee. chaired by PA)rk HarnnKJnd. has delegated re4￿nSIbIlItY to oversee ihe deNElopment of all a$￿tS of the School's strategic operations. The Commlttee oversee5 Ihe work of the follo￿n8 stsb.comrnittees: Flnance Commlttee. chaired by Neil Scragg. G￿rnor with specific responsibility for financial matter5. has deleyated reswn5ibility for overseeingall a5pecis of the SchtyJl'5 finances including the setting ol fees staff remuneration- Bullthng5 and Estates Committee. ehaired byscott Black, which mtsnitors the maintenance and development of the Beechwood esth￿: Public Benefft Commfttee, chaired by Simon Th)mpson, which 0￿r5eeS the School's publlc nefit prowsion i￿lUdIng tr¥Jr5ary award5.' Health & Safety Committee. chaired by the Bursar, which oversees all healih and safety Issues In rhe School and ensures that all mernters of the School Tecei¥* wfficient infortnation and Iraining io efi5ure a highly effeciNe healih and safety cullure. Russell Viner IS the governor with specifi£ reswjnsibility for oversight of health and safety,. Marketing & AdmIsSk*￿ Committee. chaired by Gamn PA)irs, oversees School's marf(eting strategy and pupil roll; Pensions Sub-commlttee. chaired by Guy Freeman, ¥thich oNErsees the khool's staff Fension schemes. The School is led by the Head wih financial and administrative decisions taken in conjunction ￿th the Bursar. They and the th￿e Deputy Heads a￿ the key leadership peryA)nnel of the School. supty)rted by a broader Seniof Leadetship Team. Page 3 BEECHWOOD P*SeK SCHOOL LIMITED GOVERNORS, REPORT FOR THE YEAR ENDED 31$1 AUGUST 2021 Remuneratlon The Governing Body sets remuneration, wilh Lhe KM)licy ob)ective of prowding appropnate incentives to encourage enhanced Ferformance and of rewarding fairly and Te5Fonsibiy indiwdual excellence and contntsjtions to the School's succe55. The G)Ntrnor5 authonse an anTrual per£eThtage salary increase for all staff taking into con51deration expected income and expenditure and external factors inctuding maintained sector salary increases. Additional individual increases are as a resuli of the annual salary rewew by ihe Head and Bursar. The appropriateness and relevance of the remuneration rh)licy is reviewed annually. Delivery of the sch¢￿1's charitable ￿510n and purpx)5e 15 pnmarily dependent on our key management personnel and staff costs a￿ tl* largest single element of the School's charitatsle expenditure. OBJECTS. AIMS AND OBJECTIVES Charltable Objects The School's Objects. as set out in the Articles of Association, a￿ Ihe advancement of eduCat￿n and other a550ciaied activities for the benefit of the community as a vthle. In furtherance of these Objects, for public benefit, the Sch)ol has esiablished and admiThisters bur5aiies. grants. awards and other benefactions, and acts as the trustee and manager of proFerty. endov4rr*nts. Wuests and gifts given or eS￿blIshed in rsuance of these Objects. Misslon The School's hlissron is to be a Leading UK prep xhool. To fulfil thi5 ambition, with the 9JPWrt of parents. the School: Nurtures and promotes the happiness. healih, safety and emotional *A*lI-teing of every child. developing in them confidence and independence- Engages the intellectual. physical and 5Plritual wtential of every child across a broad range of academic, extra-curricular and pastoral activities and exFenences', Insplres children. inculcating iransferabie. lifelong skills and values by whKh to ach*ve Ferx•nally and contrilxjte influentially to society: Enables inspirational and fefleciiNe Le￿her5 to prov￿ every pupil Wih oL¢t5tanding teaching, delivering the highest levels of eduotional pace. varieLy and challenge. Values The School's sixteen Values, chosen by pupils and reviewtd biennially. lie at the heart of the School community. prowding a pastoral frarneh￿rk. which enhanc￿ Bntish Vatues and helps all mem￿r5 of our community io Iwe and work toget￿r. APPRECIATIOP4 - ASPIRATION - COLLA60i4TION- CI)URAGE- CURIOSITY- DIVERStrY . FORGIVENESS - FRIENDSHIP- HUMILrrY- INTEGRtTY- KJNDNESS- PATIENCE- PERSEVERANCE - RESILIENCE - RESPECT- TRUST. Objectives The primary objectives of the khool to fulfil t￿se airr6 are io provide: A stTmulating learning enwronTh*nt in %thich wpils can de*lop their academic potential w ihe full; Page 4 BEECHWOOD PARK SCHOOL LIMITED GOVERNORS. REPORT FOR ThE YEAR ENDED 315T AUGUST 2021 A happy and secure pastoral enmronrrent In ￿lch wpils can learn to live iogether and thu5 foster a sense of cornmurlity. co-educatlon. re5peci for one another and pod atizenship" Pupils ￿1h opportunity to take a(fvantage of a breadth of co-curricular aciivities in order to <*velop broader skills- Pupils with the Op￿rtUnItY to tske decisions based on ihtrir own judgement and io tomrnunicate those dectsion5 appropriately and effectively- Financial yJppJrt to enable children 1*h￿se parents are unable io afford the full fees to benefii from the Sclwl's ethjcaiional prom5￿￿. A clear. Simple and effective management stryrtu￿ capable of making timely decisions and allocating necessary resources appfopnalely, and The necessary administratwe and Iwstic frame*￿Tk to the needs of members of staff and pupils alike. Strat*g?es to achl*ve prlmary objectfves The Scfvjol conlinsJ¢JJsiy revEws and knlops teaching and learning methods and a53e55rnent processe5 and forensKally audits all a5￿ts of its educational provision.. The Sch￿1 has a structured b*nnial 6PS Siaff Professional De¥elopN*nt Review,. The School tontinues to in¥e5t in it5 facilit￿S. for example. a new IOGB fibre optic cable now running ihe length of ihe klKKJI and the PrO￿510n of t0￿h$(leeTh technology. iPad Chfomebcok banks and clasyoorn refurknshments., sch￿I.s tr provision is enhanced regularly with ￿ equipment and infrastnKture and a new management information system- The Scknl manages ils performance through a of k)ih financial and r￿A-fInanCIal key rformance indicators. The financial measures exisi tts ensure thai the School continues to be able to meet It5 commitments and to ￿ able to fund the facilities and resources required to run and develop the SclM)ol's educational provision. The non-financial measures e￿$t to monitor the academic and pastoral outcorres of School and to ensure thai the SCI￿1 meets its educational obJecti%tS. Publft Benefit The Governor5 have considered the Charity Comm15510n gu￿anCe on publK benefit, including the guidance 'Public Benefit.. Running a Charity IPB21'. The PublK Benefit Committee was set up in January 2017 to develop a stratw"c pian for the prOV￿10n and demonsirai•)n of public ber￿fil to include but not be lirnited to= Bursary wovision Charitable giwng Local community links and partnership5 Pro*ision of facilities alld 5erwces The Governor5 are committed to broadening access to the Scw by offering to eligible parentslwardians rneans-te5ted finanthal sUPPOrt with the pay￿￿nt of school fees. 8ur5aries may be awarde¢J in the form of discount of up to 100% of tuition fee5 payable, depending on t1￿ financial. £ompassHMate or other ￿rtInent Circumstanc￿ of applicants. Page 5 BEECHWOOD P*JIK SCHOOL LIIATED GOVERNORS, REPORT FOR THE YEAR ENDEO 31ST AUGUST 2021 Ounng the year. the School protrided trwrsanes ioialling £77,78912020.. £80.9841 to supwrt 7 wpils covering between 25% and ICI)%of Lheir fees. The tr￿r5aryfor of these wplls covered all t•)ardinq fees in addition to day fees. Two wplls were gilen free access to the CounsellrK. Efforts to i¢*ntrfy pjtential wpi15 wh) wtyjld benefrt from the e(kJcation wovided by the School have continued. The Sctw)ol invites pa￿nts of Leaver5 to donate all or part of tf*ir de￿$It5 io the School to provide bursary yjpport. A number of families wal￿d a fee rebate in the Lent term and (ksnated those funds to pro￿1de bursary supwrt. Sibling discount5 are awarded io famil*s with rTh)re than 0[￿ rrtjpil at the Sch)ol teaching staff receive a discount for all children attending. Charitable donations from the SCW comrnunity amounted to £10.241 dunng the year. The wpi15 are actively Tnvolved in all fundraising activities thr(wJglK>ut the year. The Head continues as Child Protecti¢￿ (￿Ver￿￿ and Chair of the PostOToI Governing Committee ai Alorkyote Villoge School. He assists their excellent new Head ar￿ th￿￿￿￿k tO￿ther to irnplernent activitie5 which draw the rwo schools Into £105er partnership. The Head continues to develop the School's public tenefrt and eThcovrages all Beechwtxxlslaff to Implement blic benefit activities to the muiual benefit of all part￿$. The School maintains a reg15terof public ￿nefit prowsion. Reserves The Go¥*rnors wularly rewew the ktrwl'5 funth"Trg apwoach by its straiegic and financing ￿ticIeS and airn to rnaintain cash reser￿ of bet%%*en 15% and 25% of incorne. 2020121 Into￿ 15% target 25% target £7,897,415 £1.184,612 £1.974.354 Cash ￿SelveS at year end iexcluthng fees in a￿11ty Inspection of Beechw￿lIn January 2019. The inspeetion reported the School as fully-compliant in all areas and judged the khool as the highest rank)ng 'Excellent' in all area5 of its educaiional PFOVi510Th. The key findhngs were as follows.. The quality of ihe pupi15' academK and ot￿r achie¥ernents is excellenl. Pupils achieve because the sch￿1 nurtu￿. engages and inspi￿5 tl*m to succeed. In line with its mission. Pupilssh¢)w rnpid developrrent of skills and knowledge because of theexcelient attitude5 to leaming and strong ￿rSOnal skills. which allow them io be engaged leamers. 14Jpils are confident afid artKulate comrnunicato￿. The quality of wpils. personal develoKMnent is excellent. F￿PilS have excellefit levels of self-knowiedge and strong resilience. Pupils are exceptional colla￿rators. Pupils. behaviour is exemplary. Admi5570ns Bee(hwTh)d had 556 pupils on roll at the end of ihe academic year. Places at the School continue to te in high unted to £4,8(X),843. These have been generated over the years by the School, in order to maintain buildings aThd standards of e¢knation. This ￿rpluS could only be eali5ed by di¥x)sifig of fixed assets used in t*￿ runnmg of the Scho￿. Where fixed assets are donaied to the khool ihey are allocated to a restncted r￿erve at their value at the lime of the wfi. The reserye is then ￿leaSed to general fund5 0￿r ihe a55ets useful economic life. Designated funds are created by the Head by setting aside or "earmarking" fvnds out of the unrestricted funds for the s￿CIfiC ￿Tp￿s. None of tlE ￿drioUS funds were in deficit at ihe year-end or at any time dunng the year. Key Performance Indicators The ￿￿)01 manages Its performance Lhrough a series of key performance indicators that are both financial and non-financial in naiure. The financial measures e¥isl to enwre that the ktrvx)I continues to able to rneet its commitments and to te able to fund ihe facilities and resources required to run the khool. The non-financial measures exist io monitor educational outcomes of School and to enwre that the Schcx)I meet5 its etlucational obJecti%Es. Tr* results for ihe ￿ar a￿. Page 9 BEECHWOOO PARK SCHOOL UMITED GOVERNORS. REPORT FOR THE YEAR ENDED 315T AUGUST 2021 2021 2020 Pupil nurnbers lexcluding Nutseryl Nursery Nurnbers Ratio of Expenditure to IrKome Ratio of Ex￿nditUre io Income before depreciaiion Cash resernes a5 % of income Number of scholarships at eiiher 11+ or l3* % of wpiis passing Common Entrance to first cts)ice school 505 49 95.0% 90.8% 19.0% 21 100.0% 52 99.2% 94.8% 22.8% I￿.0* PRINCIPAL RISKS AND uNcERT￿lM£s The Full Go¥trnln4 Body annually reviews thtr Sclwl's Risk Register. The gereric controls used by the School to minirnt5e risk include= Detailed terrns of reference tO8eiher with formal agendas for Committee and Board actiV7tyJ Strategic developn*nt planning. rev*wed annually- Cornprehensi¥t budgeting and managernent acc￿nting. Established organisational structure5 and lines of ￿pOrtin8- Formal written tM)licies including clear authonsation and approval le¥els: and Safeguarding and recruitmeni procethres as rewired by law. Covi&19 Pandemic The rnosi significant risk facing the ￿1￿1 %￿Ul￿ be a decrease in its pupil roll. This has become more signif￿ant a5 a result of the Cowd-19 pandemic. The Sclwl has sought to mitigate these n5k5 a5 follows: The prowsion of outstanding remote leaming faciliiies to retaTrn the confidence of parents. During the Lent lerrn clowre of School sites, ￿ school was able to offer rerno￿ full-lime eduiation to all The prowsion of safe learning en￿rOnIrent5. boih on-site and rernote. for all pupils and staff following Go¥ernment widelines and excee¢thng recommendatiofis where%*r rM)ssible- Fees for the Surnrrer terni 2021 were reduced by 7.5% in Sup[￿ of the parents.. Fees for the 2020121 academK sEar were frozen at 2019120 rates., A comprehensive proce55 to SUp￿)rt tkne parents find themselves in particular financial th'fficully., and An intensif￿Trg of the rnarketin8 effort. The pandernic alxj imw5e5 a ser￿U$ fInar￿￿1 risk to the School vknich is teing mitigated by stringent credit control and appropnate sawn85 n￿aS1&re5 incluth'ng= Stringent cost control on purchases and culling exFenth"ture on non-e55ential seMces- Sa%ryng salary costs using the govwnment's Job reiention scheme to furlough Staff for whom working from IK)rne was Impossible: and Delaying and resirKtin8 worhs ￿re wjssible. for eXaM￿e on capiial projects. Other Slgnlfkant Rlsks Other significant high likeliW risks and iheir mitigation are-. Failure to de¥Elop and maintain infrastnjclure - Anr4Jal CAPEX prograrnme. developrrent and maintenance plans- Health and Safety Incidents- Extemal auth"ts. internal checks and training,. Failure to attract high qualrty staff - &ji￿trAe term5 and condit￿n5 and salaries and provision of Page 10 BEECHWOOD PARK SCHOOL LIMITED GOVERNORS. REPORT FOR TrIE YEAR ENDED 31$T AUGUST 2021 high-quality re50urces' Further Inc￿a5￿5 in emplo￿￿ contribJti¢*ns to the Tea(￿r5. Pensioll kheme will substantially affect t¥Jdget surplus unless a yjitable alternati¥e can be w0￿ded,. and The threat of the abolition of Business Rètes Relief. if irnp)￿. ￿11 also substantially affect ￿l￿get surplus. The Go¥ernorsare also aware of political and enwronmental risks and pay due regard to these when reaching Ilecislons and reviewing the structure of the khool finanoally aThd other￿se. sing Concern The School has been qUKk to implement additional financial and OFerational safeguards in reS￿￿Se to the Covid-19 pandemic, and our strong reserves POSLiion and lack of trAirf0￿ng gives us a reasonable platform to withstand the currefit crisi5. The Go*rnors are Sal￿fied ihat adequate resourceswll be awdilable through future cash flows w meet liabilities as they fall due. Cons1￿￿ng the atx)ve and after rewe¥wng the School's forecasts and projections. Ihe Goverllor5 have a reasonable expctation thai ihe chanty has adequate resource5 to continue in operational existence for ihe foreseeable future an4Y Ihat it is therefore appropnaie to prepare the account5 on a goin8 concern basis. Plans for Future Perfiods The Beechwo)d Park Schcx)l DeNelopm@nt Pian. which covers the facilities available for teaching as well as the teaching and supwrt staff. continues to be ievifftd by the SLT and Governsns Body. This plan ha5 the objective of continuin8 improvement in ed￿atIon of Children at the School. There is an ongr•ing prioritisation process which allow5 the Sch)ol continually to invesi when cash rvrvesltKJdgets allow. There is also io be a particular focus 04) cost reduction. increased revenue from non-educational activities and funding for bursaries. A mè]OT initlative on sustainability 15 planned. sTATEIAEI￿ OF ACCOUNTING AND REPORTING RESPONSIBILMES The Governors are also ihe dirertor5 under company law. The Govemors are required under company law to prepare linancial 5tstements for each financ￿1 )ear wthich give a twe and fair view of the stale of affairs of the company of the surplus or deficit of the company for that period. In preparing ihose financial statements tt* Gtsbtrnors are required to.. select 5Uitabie accounting and apply Ihèm tonsi5teTrtly- observe the method5 and pnnciples in the Chant￿S SORP- make reasonable and prudent judgemenis and estimates., 5¢ate whether applicable UK Accounting Standarrati% ewidence a5 required. There are inherent limitations in the audit procedures d￿(ribed abovp. We are less likely to t*come awa¥e of instsncÈs of non-compliance ￿th laws and regulations ihat are mt closely related to events and transactlolls reflected in the flnancial statements. Also. the nsk of not detecting a material missiaternent due io frau¢J 15 higher than the risk of not deteciins one resulting from error, as fraud rnay inM)Ive deliterate concealment by. for example. forgery or inteniional misrepresentations, or through collusion. Use of Ouf report This report is rnade solely to the charitable companys memiEr5, as a body. in accordance wth Chapter 3 of Part 16 of the Compan￿5 21J)6. Our audit work has been undertaken 50 that we might state to the company's ￿MberS those mailers we are required to state to them in an audiior's report and for no oiher purF4)5e. To the fullest extent Fermiiied by law. we do not accept or assume rewnsibility to any party other than the charitable compary and charitable companls members as a tx)dy. for our audit work, for this report, or for the opinions have forrr*d. Dale 28 February 2022 Shivani Kothari Isenior Sratutory Auditorl for allij on behalf of knre Kingston Smith LLP. Statutory Auth"tor Devonshire House 60 Goswell Road Lon(k)n EC1M 7AD Page 16 Beechwood Park School Limited STATEMENT OF FINANCJAL AmtTIES Ilrfluth￿ the IrKom? and ex￿￿li￿re for the year ended 31 A4￿11017 Trt41 Tthai 20 INCt)AIE FROM.. [￿r￿￿bI• Artfvttl¢s Schwi lee5 7.434.102 337,%7 7.134.￿? 337.W7 7.147.547 3￿.￿0 13.521 lThv•stm•nts 3J7 6,656 111.318 3Cé.516 7.JYI.415 ?.197.419 7.4¢9.￿1 EXPENDifuAEON.' Costs r4151wftsn OlheT cr*ils i.JJJ Z7.gPS 7.832 40.426 Zl.915 Educatk 7.7••.OY4 7,365.519 7.135. 7.135.402 7.413.7TI NrtkncLTh•ii•xpehoiiur•i 42,tstJ 391.524 Tian5ferbet*ethi Iw45 6Z.013 391.514 Fmd •.ni.362 9.731.J62 9 3J9 83 FL￿d 9.793.375 •.n3.375 9,731,362 ol xtMt*s kq5e5 ￿ tht the￿tre a 5tattfflefii rf t41•l re(WW ￿1n5 and losse5 ha5 Mt b¢•i PaB2 17 Beechwood Park School Limited 8ALINCE 5HEEr 35 at 31 Aug￿1 2021 21 io FIx£D￿ETs .555.147 2.231.1 3.014.7( f534.l•Jl 11.70J,JOII 10.400.441 10,347.461 1373.7W W.7901 17 1141.3S71 266.3491 9.79J.375 9.751.&S2 FUNDS 4,585.285 78.N7 4.*11.515 9,793.375 9.?31,361 Ind for ￿￿1 Scr448 C¢ThpKty P4Mnb¢r." PwiB Beechwood Park School Limited CASHFLOW STATEMENT for the year ended 31 2021 2020 24 C•sh frLTh In￿11&¥1￿ ￿tttest ie¢e Pioceeth trtyn 5thoffmeo￿ts Ptynen15toawirefFAtdastets J37 7.Jl? 1143.U21 6,656 rea5ellde(reastl Cxh4ndc*kn ¢QJrO￿lS at the ef the 2.lJ6.2•ty 1,9fg.4&7 Cash twvaleThtsatik lof thereF<¥tlnBFoftsJ 1.23a.l•0 1.836,1 P¥t19 Beechwood Park School Limited NOTES TO THE FINA¥C￿L STATEMENTS for the year ended 31 A￿￿5t 2￿27 I ACCOUNTIIK POLKIE5 1.1 pREPAP*T￿lI Thtchaiffable (qMp￿V 15 è benefit ontrty frythp wvpxes Of FR5 101 wys Chanty •lfO prewod rts fiw(Wl 51•teMent5 ITh accordance wrth the 51aternent Èl Pr¥[*e thtw ￿th the F￿n[￿L Rewrtiw ￿)rthrO the and of IrtLind FBS 101 Ch¥%￿ WTr. tyeCL¥TrPkn￿sx¢ ILU the(knE￿￿t ZOl1. ThestfhWKknI 51*emtnts lie wepared tht r(xKern the cttt thè of iThvestnwts 1.1 GolTr￿ CUNCEHN 11 beaV￿￿￿eth￿ t￿e￿$h tomeÉt i¥bi1rt*5asthf&ia In p#rtKulu the rwsthred •*MJ th*leryd thÈ >JKd'5 IwKa5ts cash ftm. ihE lthdy d&wled the nw5we5 ort n pia(e led tD (c￿1Lth that thÈrè 1$ fut4xè I.J COWPW LwfEPBYGUth4PITEE 1.4 FÉES AE(E￿A￿LE AHDSwJL￿ IMCLWE Fee5 and (h•rw for use of ￿<￿￿ted for hi thera￿￿ FEes rtcorabiÈ aye 5hted 1.5 DONAT￿ FUND ￿QuI￿TING kwl ar* lak¥i to rE51rKtts1 DwtbyLS tewi*d Iv ￿ rellmed atrryd&x* thE ale for 1.6 tXPENmB£ Éwdilure ￿ alloc*t¢d tr￿45. awegate 411 (¥JX5 to thttsieyy Lythu • dtrett (o5[ ba￿. 4((￿d￿lI to 11me wt. The iirKrrts*te e&￿t￿l01¥AT with thertyn oleyrdetathh il rti4t Ra15M8 al￿01￿d tothL¢¢*yy. 1.7 TEACHING COSYS l.$ AXEDA5￿S￿4D0EpAEcL4T￿￿l knpainnent to4*. FL¥iure5 Ind fiti ¥ehKle5 .3.10>* Beechwood Park School Limited NOTES TO THE FINANCIAL STAT£MENTS for )1 A￿USt 2021 1.9 PEN90t19 I.1• LEA5ESANDHIAE PURCHASE CONfAAcf5 1.11 Eouf4ALENT5 th5 le55 1.11 FIP14IKi4L INS￿￿￿￿TS The has ￿¢¢led ILTr 11 'B*s￿ F¥w.402 cIudtd￿thi￿ [Y.835.102 Lsan 12WO- £n￿bI￿Lit￿to I¢5trTrdehwdrtL¥È. Cty7thty5W. The fiNfflcul CLX¢ ¢1 ts￿ and hi¢thii was Wg*y (Trved the ￿KY excess af £2￿. In ￿di1￿j￿, siwif￿an1 5talf lune was rew￿￿ the rKThvy. The %(wrty e thE￿idErt. Trtsi 7.•3Z 40.414 7qtWCoits 6.016 4Z.I Ch4Ntsb￿*￿￿￿ur* T￿1 2020 (IvXe¥i Teachhi% Wdfare Piemw E5taLes 4.414. 6R.259 la2.C*)I 483.6Jl I￿.12j 4.7rii.523 568,&27 1.295.432 7n.394 22.541 3.502 IBB.761 22.543 329.839 5.252.3•3 i.n3.197 5.258.109 l.B15.5 329,5 7.413.777 14.268 4.041 . Accv￿t￿ feE5 2.376 (￿"Tra￿l 622 13 Beechwood Park School Limited NOTE5 TO TfrIE FINANCLIL sTATEl￿NTs for the year ended 31 AL¥U5t 2021 • STIFF cosrs 2020 4.141.606 4.041.402 388.703 774.7r 5etuntycosts elher c( 7W.101 2.174 5 303 069 1011 Jg 45 £00.r￿ hi ¢hEye¥ as I￿1r￿*s.. 1021 2&10 £￿.￿0. ¢70.L 170,WO. t80.rf LIO.M1 . lyo.ib 1i10.r¥)l- E120.L <￿tr￿AIrth ¢1 tSJ.S* li￿0". E411.B]OJ. 10 fyIYERllORS*tIlUMERATif*•41D DEF*ms P4e 14 Beechwood Park School Limited NOTES TO THE F114ANCL4L sTATE￿NTS the ￿ar ended 31 A￿￿5t 2021 11 PEMSIQMS rhET￿ of E630.484 IiQiO. £W.2251* * thebThrefid É73.￿ 12Q24." 175.5101 dc(*7tT*￿￿5 lo thLss(hernt. Tea(hers' 2014 c¢hitrfy*¢ W • "wy a5 •)" b•56 M•Tth5 the I(tvan￿ o* iht TP5 w•$ as 4l 31 1•*th 2016 •d the Rrfvt. was rAthitthd M Warth 2019, toThfiTrw th* IhE emplw i*e tr tht TPS Y￿reaSe frw 16 41 to 23.61 i Sembet i01•. are to Wy a 5LhEmt The )1 fr1oTJ." The am&vJnt iÈ¢¢intsed the Mt ry¢5ty1¢ Yalw of the relaths to def￿rt. Tht PiÈ5•lt Jl W 1021 31 W IOZO JI W IO1• 241.357 115.279 R•condlWiLm PyiDd tndinl 31 Auwyt 1011 Jl 2010 P85.179 un¥￿4￿*￿[he*￿(lAkn)l f¥tty lkntereAewtywi 2.274 2.891 Dvttil(tsitrthrtkn paHJ (2￿1]1 166.mg Plly 16 Beechwood Park School Limited NOTES TO THE FINANCML STATEM£MTS for ￿ended 31 Awust 2021 11 PEfisv)MS I￿￿t￿u• Jl •4mrtt E•ll JI W 2ts20 IwE51 l.274 1.993 JI W 1021 JI W 2020 31 W 2019 31 IAwyt ltyll JI Its20 31 AuyJSt 2ts1• Yoar I 25.25J Ye¥z Yeul Year4 Ypar5 Y*[6 Yeai 7 YèaT Ywdr g Ytjr 10 y￿11 26.791 27.595 ts.413 26.791 27.595 U.423 .175 )J.15 Ji.05B Ji.9YO 21.967 26.Tr1 11.595 21.423 19,275 30.154 31.051 31.gyo 21.467 )).151 31.051 Ji. 12 IIEfiM¢ts4E FOR MYEAR 2010 NÈi 4ncwe15 5tatÈd ètser chaiDI8.' therenla15 •.J¥J 329.139 P￿t 17 Beechwood Park School Limited NOTE5 TO THE FINAIICLIL STATEWEHTS for the >rdr 31 ALFA￿t 2021 Tot•l At I Stoembv 2020 1.011.h6 167.W 111.folj 4té.B50 143.14t Dty￿15 1)6J.579J At 31 W 2021 9.455.ts70 1.190.610 10.61b.124 Al 1 5optthbet 20 g)). 117,561 111.thX)i 1.Tr7.495 349.383 227.6J6 4.1Tr 16.C*Jl> t )1 Ahw2021 1.215.321 910.4S3 Z.130.277 Nrt trtthval AI 31 W 2021 .239.74 2BI.147 17.952 At I Wembor2020 .In.115 Zf.8 14 PELITORS zg11 2020 Fee5 a)deAtras Othw debt￿5 zJ.I 12.gS6 31.818 49,357 15 CAEDrroRS Ijn￿ts zoii rY*cr¢thtcr5 168.144 95.4 70.2￿} Fee L￿pOSItI 38.79• 4.419 71.6*4 ￿(r￿lS 171.297 514.7 1.701.3$1 20 I Iwwards 14.419 P4Et I Beechwood Park School Limited NOTES TO THE FINAIICIAL STATEMENTS for the year 31 2￿11 14 tAegrrois OUE *STEftOMIYEAR 1021 s[￿ foÈdegosff5 57J.Y 349.750 373.75ty 349.no 17 PWNC*15FORLl*JimES Zl It i Stpirt* 201Q 1trerrea5e)IlDcre￿t ￿ prty*ts 146.349 124.•921 285.279 At )1 Auw 2Ql 241.J57 266.249 11 STA1￿1￿[ aF FUMD5 At31 U￿r￿tr￿ted fwThJL" Gwval re5erye Désw¢ed iw*". 4.Y8.285 7.W.B52 (l.b)7.427 139.133 4.8W,U43 117.120 5.025.257 16.543 7.975 ￿,￿7 4.113,589 9.731.362 7.1•7.415 9.793.375 RestYi¢¢ed fw Totsl restrKied TcLal fw 9.731.36k 7.W.415 .BJ5.¥)1 9.793,375 Tr￿1 At 31 ￿￿51 rostntted tw&.. 3.904.79) 7.769.571 17.373.￿lI Lk5Wattd ff￿7d.. BPSPA 4.588.285 217.217 5.130. .416 1Èser 5,025.257 9.33B.944 7.7*.911 (7.413.7771 6.269 9.731,3fj1 Resirtted fi 1fy.269> Tatal rewKied (6.2691 T0¢41 fw 9.)39.83B 7 ￿5.￿7 (7.413.771) 9.731.￿2 Beechwood Park School LimTted NOTES To THE FINANC￿L ￿ATeMENTs for theyear end￿ 31 2WL1 ZOZl Taryible ILTed •1*5 Cutrenl a55et5 CutreDI Ii*ilrt LonRtorni Ibbuff 3.642,161 i.x•. 34.no 4.913.515 ,555,B47 n.947 4.WJ.841 •.nJ.175 Tlilal 4.011.Vfy 117.B2D J.018.706 11.70•.3611 Cuiiwl ljabilrt 11.7W.J61) 1616.tTr19) Total a55e 4.588.285 117.810 5.025.257 •.731,342 10 coIA¥trxNTS UIIKR OPeiAllllGLEISES I￿kM5.. rth*¥(w yea 17.120 31.1é2 37.138 21 RELATED P•rn 22 COIITAOL A¢ the year JI *•51 1011. there a CWI U*TthIknI of to thp 12010". {1).692 relatiw to tht P4* )0 Beechwood Park School Limited NOTES TO THE FINANc￿L STATEMENTS for thè year wded 31 2021 Z4 NtyTESTO TME WMFLOWSTATWIIT 62.013 349.JB3 329.839 16.6561 Ik Inter*st PtDfitllLossi lln SOi*of F￿d Assets e45el(TrE(re￿È) ￿ trethiiJr5 361.J• 555.1 P￿e 31