Chaiity R•gistrnilon No. 311075 COM￿nY Regl¥tTrtion No. 00912022 (England and Wal•81 CHARLOThE HOUSE SCHOOL UMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 CHARLorrE HOUSE SCHOOL UMITED LEGALAND ADMINISTRATIVE INFORMATION Trust•è$ rA Halfiekl Mr P M¢Glone MrsJM Pa Mrs C Smith Mrs S E Stsrr Mrs M P Wllson Mrs J A8kew Dr K E McNemey Mr R J Stuttaford Ichaimianl (Appointed 09 June 20201 S•cret4ry Mrs S Starr Charfty numb•r 311075 Company numb•r 00912022 R•gl8tered office 88 The DrNe Rlckmansworth Hèrts VVD3 4DU Audltor Mèrcer & Hole Batchworth House Balchworth Pla¢e Church Street Rickmansworth HertfordshiTe 31JE CHARLOTTE HOUSE SCHOOL LIMITED CONTENTS Pagè Tru$leè8' report Iniiependenl auditorfs report stalernent of financlal aetivrfles io Balance sheet 11 Statement of cash flows 12 Not•s to the fmanc&ql stalemEnts 13-22 CHARLOThE HOUSE SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST2020 The trustees present thtrir rèport and fmancial ststements forthe year ended 31 August 2020. The ffinancK81 statements have been prepared in •¢eordance with the accounting p)Ilcles set out In note 1 to the fjnanual statements and ¢ompty ￿th the Charitys Act 2011, the Compani&s Act 2006 and 'Accounting and Raporting by Chariti95'. Statement of Recommended Pra¢tiee applicable lo ch8wibt$ preparfng their accounts in accordance with the Financlal Reporting Standard app1kab￿ in th¢ UK and R•pubh'c of Ireland {FRS 1021.18$ amènded for accounting period8 commencin9 from 1 January 20191. Governlng documgnt The charlty is govemed by its Memorandum and Articl8$ ofAssockqfion dated 31 Juty 1967. Gov•mlng body The m•mbers of the Charitys Govèmin9 body are listed in the legal 8ThJ administralrve Infomiatlon with detalls of changes duvlng Ihe yo•r. R￿ruItment and Trnlnlny of Governors The CharWs elect8d Govemors are appointed at a mg*thng of the existing Gov¢mors on the basis of nominations reGg￿tsd from existing Govem¢rs and Ihe Head to the B08rd's speafications ￿nC¥m1n9 e1￿Ibl1ty, personal competence, specialist $kllls and local availabilty. N&w Govemors are induclgd into the workings of the Charity irKluding Board Polry and Procedures. by inillal brfefing by the Ch8lm8n, attending Governors, meetings and bèlng directad lo relevant guidelines and course5. This 1$ supplemented by personal visit$ to th8 School to talk to staff. parents. #nd pupils. Organls•tion•l M•nag•m•nt The Govemcrs. a$ thè trustees of the Chanty. are Itry8Ny re4)on8lble for the overall management and control of the School and meet at least three bme8 a year. In addltSon to this therè are four Comrnittees tsf tha Board vthith deal wth spec4fic arew ofthè Schoofs operalion: The Educatlon Committee.. Chaired by Or McNemey. is responsible for examinlng trends In education, educational poficy and sta17 development gnd the promotlon of the sthvol its ethos. The Building and Financè Committee: Chaired by the TrÈasurer {A Haffieldl and 3sslsted by the Bursar, is re8pon8ibl¢ for implementing facilities and ffinw¢fial strategy and the poli¢ies of the Board, including the pr¢paralon ol budgels. managemènl accounts and fororosts and is also responsible for the audrt. The Health and Safety Committee.. Chaired by the Bur$8r IA Pa￿￿rI oversees 811 heatth and safety matters and oper4tSon81 rfsk management. The Marketing Committee- Chaired ty S Ststt dwelops marketing strateg18s. oversees thè ¢reallon of nèw advertising and websito material and explore5 idea8 for promllThJ the school. Th¥s• committees rneet •t least oncè each tern. C Smith is Ihe 9ovemor responsible for Chlld Protection, she reports lo the Btr¥rd on 011 matters pertaining lo SJf¥guarding. P Imlson 18 th$ Earty Years & Spedal Education N¥Éds Governor. The day to day vunning of the School is delegated to the Head supported by thè Bursar and the Senlor Management Team und8r tha chairmanship of the Head. The Head arKI the Bursar ottend meeting5 of the above Cornmttt•os and they also attend full Govgmlny 8oard meetings. CHARLOTTE HOUSE SCHOOL UMITED TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2020 Rl8k Management The Board of Govemors is resp)nsibK8 for th9 mwagement of tho bu$ino$s ￿SkS fa&8d by the Sthod. A Rlsk Register is maintained and reviewed by the Board and this indudès the management of action$ in mitigat¢on of business risks identified. H¢allh and Safety Rlsks are klèntifièd. cOntrol￿d and man8ged by the Health and Safety Committee which Is chalred by the Bursar with mombers drawn from across the stoff of the School. A Govemtsrs. representative also sts on the Heatth an¢J Salety Committee, and NNnuto$, ￿speC￿0n ￿P0Fts and other relevant informatlon are reviewed ty thè Board. The key controls usod by the Charlty Indude.. Fornial 8gendes and ffllnules for all Committse and Board ar￿VIty Detailed terms of reference for all Committees Comprehensive stralogic pl￿nthg. budgeting. fr)ng term planned MaWrten8n￿, and management a¢¢ountlMg Form•1 written polldes Clear authori&￿On and approval levds Vetbng procedures as requIr￿1 bylgwlor the protect￿?￿ of tho vuln•r8ble Through the risk management wocesses establi8h•d for the School. the Govemots are satlsfied that the major iisks id¢ntifi•d have been adequately mitigated whère ne￿Ssary. M is re¢ognised 1hal the system$ ¢8n onty provide reasonable bul not absolute 88suf8nc• that major risks havo been at1equatety manage(l. Pand•m In accordan￿ w6th Govemment directives, the s¢fthl w4$ shul dovm to ¥1 but a f8w 'Key Wotherf ctrildr•n from 23rd March and remained open for Ih*s• ehlldren during the Ea8101 holldays wlh staff voluntegNThJ on a rots basis. Govemorn opproved a cornprehens￿e risk as8essm&nt for re-opening al the beglnnlng of June and an Charlotte House puplls were able lo retum to school for the last ￿ weeks of the summer temi. The Heod and Te8chin9 Staff are to be corrffiendeil for thelr efforts In dovelopNIg the ¢￿0deHoUse@hoMfr leamiThJ platform. Th$ schc4)I Id&nllfied cost-savngs as a resutt of th¢ 'lock4Jrywn' and passed th8s• on to parents in the lonn of lèg adjustments for the summer lemi. Any parents suffering )Inandal hardship as a result of Ihe pond8mte Ere also given the opportunty tQ 4pply bursary or pay the $umm•r temi fees in inslalments over the next aC8demi¢ yÈar. OblKtlves and a¢tMtiets The objecl of the Ch8rity in a¢ts)rdan¢e wlth Ils Memorandum of Assodation is to provlde educallon through the operation of a Pr¢p?r4tory S¢hool. Charfotte House Sthool is a f•waying school for 9irls aged three to eleven. In furtherance of thls oblect, the Govemors as the charity tDJStees have ctsmpl￿d wllh the duty undor S.4 of tha ChArfb"es Act 2006 to have due regard lo the Chanty Comrni$sion'¥ publlshed general and rel¢v8nt $u&sedor guidance conceming the operalK>n of the Pthlic Benefft requfjre￿nt under thatAct. CHARLOThE HOUSE SCHOOL UMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2020 Aims and Intended Impac¢ ThÈ year ended 31st August 2020 h¥s seen contlnued proy1*￿ in accordance with the S¢hoofs ethos and slrategic aims. Chartott? Houso has a sirong acadèmic tradition based on the phI￿sOphY of education developed by Charfotte Mason. the founder ol Ihe Parents, Na￿Onal Educallon Unh)n, who beli9v¢¢J thal parents and thg ho￿ were al the heart of develo￿ng children Spiritually. physicalty and mentally and that children should be respected 88 indivlduals and nurbjred to develop thelr unique taents. The Governors and stsff are commStted to maintsining thls trOd￿on. It is the poli¢y of Charfotte House School that puplls, induding th0￿ in th• EYFS. re¢er￿È a broad and balanced full timè supeNised ¢urriculum, wh￿h delivers an edvrAfjon surted to all pupil¥ a¢ross the full age 8nd abilty range. AJ puplls hava the opportunity lo ltr¥m and make progress and ar¢ prepa￿rt for the Opportunit￿S, responsibil￿11*$ and experiences of Irf& in Biitish society. The cU￿1cUluM is de31gn¥d to engender a love and excf(ement of leamlng. Whllst ¥￿1h us we 8ee all pupils fulfil their individual academic creaffjve abi1Sties, explore their lalgnt$ to the fvll, and appraciate through study. the weatth of human AehlÈv•ment. Progression 18 at the core of the CU￿1cUlUrn. Wthin a framÈworf( based on Christian v81ue$ we aim to PrO￿de a stimulatlng environment in whi¢h ¢hildren are happy, sucCeSsfi￿ and keen lo Igam, thus helping them to grow Into young peoplÈ vjho are fulfilled. r05P¢Ctful and able to make 8 positNe contribution to swety- The school is committèd to equal opp)rtunibes for all, children and staff 8like 8nd aims to provKle a wid• pro9ramme of sporting, drornat￿. arfistic bnd extr8- curricular activTties. Publ1¢ Benefft Th• tota number of pupils at the $chool by the end tsf the yearwas 126 of wh￿h 5 held parlal bwsaries. The Govemors, policy 55. withln thè reasonable meon$ of the School, to maintain our bursary prowsion lo help existing parents in lim• of hardship and lo gNe thik*ren. who would olheMls& t* unabbe to, the opportunty to be edu¢8led prfvalely. The sthool has sought parb)ershlps wklh local slatè schools induding offerfng fw$ placos on our Iraining days to theSr ¥laff •nd hopes to d8velop these fvrth•r. Fund Raising The School is the princip81 beneficiary of the Patent Teacher Assory8tion, 8 separate charlty ￿lled the Charkjtte House Prep School PTA Iregislered number 11(651MI, throuyh whlch fundraising for ¢ommunity projects, buildlny projects and school *qulpment is conducaèd. The Parent Teacher AvJockqlon continues to SUPPOrt Ihe School enlhuslaslicalty a¥ gver, running wents lor the children aThJ p¥gnts. such as 8 wine and ¢hgeso evenlng and a Zoom ma9lc show. Durlng thls year they have h?Ip¥d th& school to robott¢ ￿15 for Computin9 le$son$ strat•glc wiort The folIty￿n9 sectSons for achlevernents and performance and finandal rovlew fomi the Strat￿* report of the ¢hwity. CMARLorrE HOUSE SCHCK)L LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORD ICONTINUEDI FOR THE YEAR ENDED 31 AUGusf2020 Athlèv•m•nts and perfomaneè Op¢r•lional P•rforniance This year again saw IhÈ conts"nuance of the high stsndards set n previous years In 811 aspects of the Schoofs activ￿.eS. The girf8 ben*fit from speclallsl teache[$ 8¢ros$ Ihe cuthculurn and we endgavour to provide thèm with a weatth of eX￿n￿nceS and opportunitiès. ￿ ènsured that planning was accurate and approprtgte for the needs of the children, showing ¢l¥¥r prou￿sSIon and cons￿lenCy. The gthls take home all their books once ev¢ry half term to promote our hom*lschool partnership. As a certIf￿d dyslexia frtfjnd￿ sthool and a certthed rights respecling s￿￿1 we continue to en8ure that the 8¢hool 18 a happy enwronment where all glrls ¢an )lourish. ffind their volc• and achieve their goals. Throughoth the school yÈar di8gnoslic, summ8tive and fomiB16ve assessments ar& used to ensure each child is performing lo th$ b¢$1 of thelr ability and is at1ga51 r•achlng age expected level$. Assessments used range from rnoniloring1rn8rking of sch￿1 work lo ASPECTS. INCAS and PIPS. This was a year of outst•ndin9 ac8demic pèrfomianco with our as$e$$mènl$ shovhng an excellent l?vel of progress for all classes tr8cklng 9irfs Ihrou9hout their time with us $hows consK1erable 'value-adde¢J'. In KS2 100% of girls w8ra working at national average or higher with Ihe majority achieving considerabty higher than national avara9e. Girfs were very successful in transferring to the secondary schools of their choice. They a¢¢epted places al both state and yivale 8¢hool$ and were offered four ac8denl¢ $tholarships. Sthool Offern Gpien Scholar8hlpsl Croxle Dan¥s" HaberdashefS'Aske'5 Haydon Northwood Colle r's Comer Ridtmansworth Ro al Mason5c St ￿ban3 STAGS. St Clemenl Danes" St Helen's SIMa areys Stma rford Grammar School. OTAL 12 10 'm8intained sactor This Is. as aKYays, a vilal ¥nd important process aml we devote nyjch care and attèntlon to supporting both the glrfs and thelr parents, and in developing and maintalnlng strong links ¥wth afi s•eoAdary schoo15 in Ihe area. Charfotte House glrfs benefit from the self-assurance and academlc altainment developed durin9 thelr time al the Sthool whkh enab￿$ them to transfer to one of their cho$en secondary sthools wrfh ¥¥se, being SUffi￿enty mature to deal wrth the changes of environrrent, tèaehers and classmates. CHARLOThE HOUSE SCHOOL UMITED TRUSTEES. REPORT (INGLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED> FOR THE YEAR ENDED 31 AUGUST 2020 Wlder Communlty A¢tl¥lllo8 The S¢hool contlnues lo be an actpie member of the local corn￿nty In provSdlrKJ educatlon for girls of all abilitio$. The Go¥emors have also approved a pdicy ol taking on NQTS %then appropriate and providing wo experience for pupils from st•te Se¢￿dOry schools OT Student 1¢o¢hers. The School actfvety encourages pupils to eng•g¢ in raising bJnd8 for ch8titw$ based both In the UK and over$tras. fosterfng In thern an awarenes$ of i¢al-worfd issues and A dèslrè to contribute lo th• wder communty. The school 8UPW>rtèd the Poppy Appeal, Children In Need, Chlldren wrttTr Cancor UK and Marle Curie. Unfortunatety due to Covl&lg the school wa$ not able to provide work ¢xp&ri•rtt for sludents frtsm local State and ind•pendenl se¢ond•ry schools this year. Extr44urrlcularA¢livities For the ffirsl six months of the year Educaiional vlslts were made to the Hillingdon Outdoor Actwity Centre. Hazard Alley, Celtic Ham)ony, Milestone$ Museum. Sky Studios. Young Voices, Hatfield House And Zoolab vlsited the school. Unfortunately other tn.ps ￿anned t¢ codbury worfd, the Lmng Rainforn$t and Aldenham County Park had to be wie8lled due lo the PaThje￿￿. Phy$fical educatlon and sport are key coryonenls of the school WTth all girls belng actNety iwofved in variou$ sporting actsvities. Netball matches were played agaln$l local Independent and stale $¢hools wmh great gnlhusiasm and success. Our swimmlng team 5uccessfulty competed in many galas over Ihe ffirst h￿1 of the year and we qualifièd for the IAPS National Swlmming Finals at The London Aquatics Centre but ￿rtUnatelY IhÈsè w8r8 cancolled due to Covi&19. Girfs took part in the Prep Sth¢ols General Kno￿edge compellion and Maths challenges. Music continue$ ts play a very important role in school Ilfe. Form V & Vl 8ang at the 02 as part of the Young Voices Ghoii and our annual Carol SeM¢e hekl at Sl Mary's Rlckmansworth. Many of th8 girls ￿ 8chool1g$rn g musical instrument. The sthtsol offèrs tultkjn in piano, violin, clarinet, soxophone, llute. guitar and in left in August 2020 after 17 years wlh the school. CHARLOThE HOLISE SCHOOL UMITED TRUSTEES. REPORT IINCLVDIWG DIRECTORS, REPORT AND STRATEGIC REPORD ICONTINUED} FOR THE YEAR ENDED 31 AUGUST2020 Flnanelal revlew The financial pÈrfomance for the peritsd was good wlth a surplus of £91.9151201tr. £102,480). Costs ha been su￿ssfUltY controlled and the cash p0s￿On has improved. Depreciation on ftt￿l 48s0ts was £62.440 {2019: £73,699). Thg cosl to the Sd)ool remained sa￿ri&S which increased overall by 2% compared with 2019. The School's overall do¢fease In fee Incorne w•$ 4% compared with 2019. At 31 August 2020. bank borrwngs were £nil (2019.. £nill. R•s•rv•8 Poll The finances, budgets and spend against budget are regularfy re¥iewed by th• Bullding and Finan¢¥ Committee of th• Govemors as part of the tsff8Ct￿e management of Ihe School. Cknse attertlK>n Is pak1 to ¢ash flow management and the relationshlp be￿en cash gen$f¥tSon, the School's incomg and fulure capilal expendlture plans. In Ihe yeor *nded 31st August 2020 thg sU￿1￿S before depffjclalion was £154,355 P019'. £176,179), approximafjng to 10.2% of the School's Income. Freehold propety i8 induded In the finandal stalernenls al a dgpr9ualod cost of £1,283.503 (2019.. £1.315.6181 is considered lo be Material￿ less than markèt or replacement value. The reserves policy Is to maintain total re8Èrves. cash availabilty and cash generation at levels which ènable the School lo plan for futUTe capital expenditure, %thilst effectively m¥naglThJ tha Schoofs educ4ttonal and charitable activibe$. Plans for futyre p•rlods A compieh&n$ivè School Development P18n ha$ bgen created ty thè Sènkjr Management Tgam and our foci fr)r ￿xt y8ar include.. To continuè to encourage deeper awareness of & impknient w8y$ to support & streThJlhewi staff and pw)ils' poSit￿e Tr*ntal health and well-b0iThJ. To irrylement the nsw Rèlatk)nship & Sex Educathon ¢urrfculurn and improve our PSHEE curriculum. To I¢￿eW our cUm￿AuM to enswe wo are providlng the best w¢ ¢8n forthe glrfs Audltor Each of the persons who 18 8 trustee at 1he date of approval ofthi$ reW confmrns that: so far as they are aware, thert Is no rèlèvant audil infomation of whkh the charity's awJite* Ss unaware. and they have 18k¢n all steps that they ought lo havg lakan as a trustee to make thémsefves a￿dre of any relevant audit infom8tion and lo establish that the charity's audltor is awara of that information. The #uditor Is deemed lo hav? r•4ppoinled in ac%ordance ￿th Secti(￿ 487 of the Companies Ala 2006. The Truste¢$' report, induding the strategi¢ report. was approved by the Board of TNstees. Mrs S Starr J Parr Dated.. 02.03.2021 Oaled.. 02.03.2021 CHARLorrE HOUSE SCHOOL UMITED STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 31 AUGUST2020 The Iruste?$, Mtho are also directors forthe pu￿$¢5 of company law, are respon8ibl$ for preparfr¥J the Irustees. report and the ffinan¢lAI statemen15 in accord8nGe with appllcable law and Unlted ￿"ngdoM Accounting Stsndards (Unrted Kingdom GeneTaltyA¢¢epted Accounb'ng Practice). Company law requirès thè charty trustees to prepare ffin8ncial ststements for eac* year whith glve a true and fair wew tsf th¢ state of affairs of the chaiitable ¢ompany and the incoming r•stsur¢•$ applicatKJn of resources, Indul￿n9 the Income and expendrture, for Ihal period. In preparing these finanual 8tat•mènts. the trustees are requI￿d to.. S*lect suitable accounting policies and Ih•n appty them consistenlty,. Observe the method8 and prindples In the applicable Chavibes SORP 2019 IFRS 1021.. Make judgmènts and accountirvJ estimatss Ihal are reasonab￿ and prudent.. state wheth•r applicable UK Aceounllng Standards have béèn followed. subleGI to any materl#l epartures disdosed and èxplainèd h) the finandal 3talem?nl$', Preparo Ihè financtal 6tatements on the going con￿rn basls unbBS Il is inappropriala to presume that th• charfty wll continue in business. The trustees are responsible for ko•ping adequate accounting re¢tsrds that are sufficAenl to show and explain the eharivs transactions and di5¢fose wlth reasonable #c¢uracy at any Ilme the financial po$rfion of Ihe chartty and enable them lo ènsuré Ihat the financial stslements compty with the Companiti A¢t 2006. They are al¥￿) Tespon$ltle for safeguarding Ihe assets of th¥ charlty and hence for tsklng reasonable steps for the preventi 8nd dgledign of fraud and other irregularities. CHARLOThE HOUSE SCHOOL LIMITED INDEPENDENT AUDITOR% REPORT TO THE TRUSTEES OF CHARLOTTE HOUSE SCHOOL UMITED Opinlon have audited the fin8ntAal stètsments of Chadotte House School Llnwted (the 'd)arW} for the year ended 31 August 2020 which comprfsa the statement of financial activities. tho balance ¥heel, tht statement of cash flows nd the notes lo thè financial slatemenls. induding A summary of 5ignlficHnl acrnuntlng polic￿$. The financbal ieporting framwork that has been applied In their prepara￿On is applir4ble L4w and United Kingdom Accounting Standards, incbjding F￿anrAal Rèportlng Standard 102 The Finan¢i81 Reporting Standard 8ppIic8bl8 in the UK and Republic of Ireland IUIMlèd Kingdom GenerallyAccepted A¢countSng Practice). In our opinion, the firtancLql sLitements.' give a true and fak view of the state of the charitsbl• company's affairs as 8131 August 2020 of its inc£Jming resourctss and application of rèsourcès. for the year then erÈdèd'. have been properly pteparèd in accordan￿ wlh Unltad Kingdom Generalty A¢¢eplÈd Accounting Practic&: and have been prepared in arLordance wth ihe requlr¥menl$ of the CompaniesAct 2006. Bas18 lor oplnlon We conduetèd our audit in accordance with Inlematlonal Standards on Audiling IUK) IISAS IUK)} and app1i¢abl8 law. Our respOnsi￿1￿.eS under thosg standards are further described in the Auditoes respon$ibilitiÈs for the audit of the financrdl statemènts sÉrtSon of our report. We are independent oflhe charity in acwrdan¢e with the ethiral requirements thal are r¢lov*)t to our audlt of the financial statements In the UK, including th• FRC'S Ethical standard, and we havè fumlled our other ethical ￿SponsIbl11t￿es Sn accordawe with thesè raquifements. W• belbve that thè audlt evidence we have tsbtalned is sufficient and appiopriats to provlde a basis for oui opinion. Conclu8lons relatlng to golng eonc•rn We hove nothing to fepcfft In respect of the fdl¢)wing matt8rs in rolation to ￿tch the ISAS (UK) r•guir• us to report to you where.. the Truste8S' Use of the going concem basi5 of accounting in the preparation of the financl81 ststements Is not appropriate- ot the trustees have not disc*)8gd in the financAal slatements any Sdgntffied rnalerfal uncertsintiès that may cast slgnrfK8nt doubt about the charity's abilty to ¢ontlnue to adopt the going con¢em b•sSs of accounting for a period ol at least h¥elve n￿nthS from the datè when the financial 8tatsmgnl$ ara authorised for i$su•. Other Inforniation Thè tnjstees a￿ responsible for the other infomatlon. The olh8r information comprises the informat￿￿ induded th& annual report, other than the financial slatemenls and our auditor's report thereon. Our opinion on the ffinancial statements doe$ not cover the other information and we do not express aww fomi of assurance conclusion thereon. In eonnectlon wrth our audfi of Ihg ffngnd81 statements, our re5ponsbi ilty ts to read the othèr infomats.on and, in dolng so. consider whèthèrtha other inlomation 15 malerialty inconsistent with the fin•n¢ial statements or our knowledge obiainèd in the audEt or othe￿168 app¢ars to be materially mis5taled. ff ￿ identify such m8tèrial incons151gnGies or apparent rnateri￿ mlsststements. we a￿ requlred lo detem)ine whether there Is • mateiial ml$$latement In the finanrAal 8talemènts Qr a materfal misstatempnt of the oih&r infom￿110n. If, based 83,791 151.507) Totsl assets les* currtht Il*bllltl6s 1.644,991 1.S53.076 Income fund¥ Resln'cted fund Unrestricted fund6 10,839 1,634,152 12,133 1.540,943 1,644,991 1.553,076 The company 18 entitled lo Ihe exemptlon from the audit requirement contalned in section 477 of the Companies Act 20￿, for the year ¢nd•d 31 August 2020, athough an audit has been canied out under secbon 144 of Ihe CharitiesAd 2011. The trustees acknowledge thelr re8ponsthilities for ènsuring that the charlty k¢op$ 8ccounb.ng Mcords whith with sedion 386 of the Act and for pr¢paring financial slalernenls which gfve a true and fair view of the slal& of affairs of the company as at the end of the finanryal year and of its incoming resource$ and applicauon of resour¢¢$, Including its income and Èxpenditvr8. for the financiol year In accordance with the r¢qulrements of sectKins 394 and 395 and whid) othemse coTroty with the réquirements of the Companies Ad 2006 ￿lating to financial 8t8tsments, $0 far as applicable to th& ¢ompany. The members have not required th• company lo obtsin An audit of its financkgl stalements uThJer Ihe requirements ofthe ConwanlesAct 2006, forthe year In questlon in accordance wNh s&cllon 476. These financAal statements have been prepared in accoTdan¢e with the provisions appl￿ble to cornpanies subject to the Sm￿1 Com￿nI*S regime. Thè finandal statements We￿ approved by the Trustee8 on 02.03.2021 Mrs J PatT Trustee Company Regi#tration No. 00912022 CHARLOThE HOUSE SCHOOL LIIMTED STATEMEKf OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2020 2020 2019 Not•s Cash flowa from operating a¢tiviti Cash generated from operations 15 113.078 175,239 Imie8tlng activiti Purchase oftangible fixed ass#ts Proceèds on th"sposal of tangible ffixed assets (19.057) 1112.1881 4.600 Net ca$h u¥•d In Inv•$tlng aetlvttl 119,0571 1107,5861 Net ra$h u$•d In flnanclng •¢tivrlias Net Incre￿e In cash and cash •qulvalent* 94,021 67.653 ¢•¥h gnd cash equlvalents al begiming of year 194.617 126.964 Cuh and cash equiv•l•nts at •nd of year 288,638 194,617 12- CHARLOThE HOUSE SCHOOL LIMtrÉD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3f AUGUST2020 Aeeountlng polkl•s Charfty Informatlon Charfotte House School Limtted Is a private company li￿￿ted by guarantee incorporated in England and Wales. The regk8tered offi¢e 1$ 88 The Drive, Rickrnan¥worth. Herts, WD3 4DU. 1.1 Aee*)unttng eonventlon The flnandal statements have been proP8red In accordance with Ihe thariV$ mom0￿dum and Artrde8 01 Association, the Companies Ad 2006 and 'Accounting and Rfrporb"ng by Charit￿$.. Ststement of Recommended Practice applicable to charitie8 prsparfng thelr accounts in accordance with the Fknancial Reporting Stsndar(l applicable in Ihe UK and Republic of Ireland IFRS 1021" las amènded lor accounling period$ Com￿n￿ng from 1 January 20191. The charity is a Public B¢n¢fit Entity as defined by FRS 102. The fin8ndal ststements are prepared kn stertlng. which 15 the fvnction$l ¢urrency of the chaiity. Monetary amounts In these financial stal¥m?nts or• rounded to the nearest £. The financial statements have been pr•pared under the hisloiical ¢ost eonvenlion, modified to Include the revaluatKJn of freehold propertks and to include Inv¢sth)ènt proparties and certaln financiol instrnments al faw v4lu•. Thè prfncipal accounting policie8 adopl•d are sel out below. 1.2 Going concern At the time of approvlng the financial staternents, Ihè trustees have a reasonable exp•ctatlon that the chawity has adequate resources to Con￿nUe in oper*lonal exlstence for the fores8•abla fulure. Thus the tw$teg$ ￿ntInue lo adopt the goiThJ ¢gne8m basis of accounting in proparing the financial ststements. In recent months, COVID-19 has been domlnating the worfd social and economic The charity cOn*'nU￿ to 0￿rate In an environment of uneért8lnty associated wth the curTpnt situation. The trustees havè assessed the impact of the current govemmental measures lo combat COVID-19 on the schoG4'$ abilty to o)ntinue for the forèseeable future. They have concluded because of the govemmentsl support offered to schools, there arè reasonable prospects of the ¢harty being able lo continuè as a going oncem. Thè trustèès am conthnuously monrtoring the srtuation and recognise thal ufi¢ertolnties exist that m¥y Impact slgnthcanlly on future performancè and challenge the applicabllty of the going concem basis 1A Ch•rlt4bh lund* Unrestricted fvnd$ #re avallable for use at Ihe di8creknon of the tnjstees in further8n¢e of thalr charilab objeGbves. unl9¥$ the funds have been de$ignat8d for olher purp08e8. Restricted funds are subjgrt to $peafic conditions by donors as to how they may be us•d. The puwes and u$¢5 of the wtricte(J fijnds are set out in the notes to the ffnancbal Slalgmenls. 1A Income Income is recognised when th& ¢harfty Is kgalty enb'tted to Tt after any Perf0m￿nCe condilK)ns ha￿ b¢w) met. the amounts can b¢ measured rellabty. and ft is probable that ineome will be rer2ived. Cash donats'ons are re￿Jg￿ls$d c4) re¢elpt. Other donations are iecognlsed once the has b8en notified of the don8tion, unlèss parf0m)an￿ condrfirjns requlre deferral of the amount. Ineome tax recoverable Mi relation to donat￿n$ receNed und$r Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recogni$ed on receipt or otherwisè if tha charity has been nolrfled of an impending distribullon, the amo￿t is known. recel)l is expected. 11 the amount is not kngvm, th8 iegary is treated as a contingent asset. 13- CHARLOTTE HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Accountkng pollel•8 IContlnu•d} Assets for distribuiion are ro¢ognlsed wthen distril)ulgd. Assets glven for use by lh¥ charity are recognised when r￿e1Vabl*. Stod(s of un(*slributèd donated goods are not valued for balance sheet purposes. G¢)vernment grants relating to revenue are recognised In in¢ome on a systemalic basi$ over the peiiods in ich the entty recognises the r&lated costs forwhich the grant is Intended to compensAt•. Tvms)ver Is measured at the fair v?lu¢ of thè cons¥Jera1￿n receNed or recefvable and represents amounts rpG$ivable for goods and $ew¢e$ wovbjed In Ihe normal ¢ourse of busines5, net of dlscounls, VAT and olhgr sales related ta¥¢s. 1.5 ExpondKur• Expendit￿rè Is recognised on an accN$ls basls as a liabilty 1$ incwr¢d. Expenditure I￿￿des ￿Y VAT which ¢annot be fulty recovered. and 18 classlfied under headings of the statement of financi#l acfjvltlas lo vthich il ￿lateS.. expenditure on rak8lng funds Includes the cLists of all fundraisi￿ a¢tlvlties. wenls. non charit•bl• trading acti￿les. and the Sak of donated 9oods. expenditure on charitable ath'vthes indudes all c051s incurred by a charity In undertaknng actiMtfj8s that fvrther it$ charrtable alms for the benefit of ils bèneficiaries, induding th08¢ $UPPOrt costs and costs relallng to the govemance of the charity apporlon8d to charit8blè actlvrflg$. other wenditure indudes all expertditurè that is nerther related to ralslng funds for the charity nor part of its expenditure on charltoble ¥thit￿s. I costs are alocatsd tr* èxpendrture categories refie¢ling use of the resource. costs attributsble to a single activity are allocated directty to that adNIty. Shared costs are apportK>n•d bafv￿n the actNitiès ihey eontributè to on a ￿aSonable. ju¥lifiable 8nd consistent ba818. 1.6 Tanglble flxed Tangible fixed assèts Aré Inltlaly measured al cost and subsequenuy measured al ¢081. net of depreciation and any impaimiènt losseg. Depreciatlon 1$ racognlsed so as to ￿lte off th¥ ¢o$t of assets les6 th￿r residual valuès over their useful INe6 on th• followhg bases= Buildings Fixtures, fittings & equip[￿nt MotorVelNde 2% on cost 100A rèducing balance 10 years SIr￿ght Iln$ Freelv)Id laThJ and assets in the r￿ul¥* of construction are Th)1 depred8ted. Thtr galn or loss arising on th¥ di$posal of an asset 18 d8tem)Ined a$ the dif18Tence bèt*wn the sa18 proceeds and the carylng v81u8 of the asset. and18 re¢oynised in net incomellexpendi1u￿} lorthe year. 1.7 Impalrni•nt of Ibtod assets Al each reportino end dalè. the charity reviews the ￿rying amounts of its tsngible as69ts to determine whether there is any indi￿tIOn that those assets have ¥uffered on impairment 1055. If any such Indration exists. the recoverable amount of the asset is e81Smalgd In order to deleThI￿ tho axtsnt of the iryAl￿￿ftl los$ Itf onyl- 1.8 Cash and ¢a$h èquiva￿ntS Cash and ￿$h équfvalents include cash in h**J, deposits held at cal Ythh bank8. other short-term Iv4ukl inveslments whh 0rf9inal maturbhes ofthFee months or less, and bank ovefdrafts. 14- CHARLorrE HOUSE SCHOOL UMITED NOTES TO THE FINANCIAL STATEMENTS IcoKnNUEDI FOR ThIE YEAR ENDED 31 AUGUST2020 Aeeountlng pollcleB IC•nllnu•d 1.9 Flnanclol In¥trum•nts Thg charity h85 èlÈcl•d to appty the provision$ of Section 11 'BaS￿ Finanrial In$tmments' and Sethon 12 'Olh¢r Finanoal Instruments Issue5, of FRS 102 to au of fts finandal instruments. FinancAal instruments are ie¢ognlsed In the charity8 balanc¥ sheel when the ¢harlty become$ p*ty to the contractual provisfions of Ihe Instrument. FlnandAI assets and Ilabilitie6 are offsgL I￿1h the net a￿￿)Unts pr&s•nt•d in the financiol $tatem&ts, vthen thore is a legalty enforce8bl¢ right to ￿ off the recognised amounts and there Is an intention to seiue on a net basLs or to realise th* asset and settle the liabilty sitwltaneously. Baslc financlal a￿•ts Basic finanryal ¥s$&ts. vthlch include deblcrfs gnl cash and bank balAncès. are initsaty W￿asUred at transaction price indudin9 Ir8nsaction costs and are subsequentty canled at amortlsed ¢081 u$ing the effective interest method unlg$s th¢ arrangement con8litul&s a financSng Iransaclion, where the transaclion is measured al thè present value of the fthvre rècèipts discounted at a market rate of intstest. Flnancial 885ets da$sAfied as receivable wilhln one yg8r are not amortised. Impalmlent of Ilnanelal assets Financial assets, other than those helJ at falr value through h¢ome and 8xpenditure, are assèss8d for kndicators ol impaiment at èach reporting dale. Fin8neJ81 assets are impaired where there is objective evidence that, as a iesull of one or more events that occurred ofter the initsal recognition of the financial 855el. the estimal¢d fvtur• cash Nows have beèn affectad. If an asset Is Irryaired, 1he impairmont loss Is the differencè betr￿eTr the carrying amount and the present value of the 88tim8ted cash Ilows discounted at the asset's or￿jInal effectivg inloresl ral6. The impairment k>ss is rerogni$èd in net incomellexpenditurel fvi th¢ year. If there is a decrease in tho impalnnent loss ariwng from an •v•nt occuThing •fter thè IMp￿￿nent was recognised. the impalm)ènt is reversed. The rèversal is such that the current ¢8rrylng amount does ThJl ex¢e¢d wh•t the carrying amount woukf ho￿ been. had the Impai￿￿¢￿1 not pre¥k)usty been reco￿￿sed. The impairm•nt reversal is re￿nised in net ineomellexpenditurel forthe year. Dvoc¢gnitioft of flnan¢lal assets Flnancial assets are dewognised onty when the contr8du81 ￿ghts to the cash fl¢)ws from thè Asset explre or are settled, or wh$n the charlty transfers the finanaal asset and substsnlially 811 Ihtr risks and rewards of ownership 19 anoth•r entity, or if some signthcant risks and reward$ of ownership are Telained bul control of the osset has transfe￿ed to another paty that Is able to sell Ihe asset in its entirety lo an un￿lat*d thlrd party. Baslc financlal liabilities Basic financial liabilities, Including credilora and ba￿ loans are initl81ty reco9nlsed at transaction pTI¢è unless the ar¥angement con51iiutes a financlng transaction, lh¢ debt inslrument is measured at the present value of the fjjlure payrnents discounted at a market rate of interest. Financial labilllies classrfied as payable within one year hre not amortised. D•bt instruments are sub8equenty ¢8rried Bt amortised ￿St. using the effective Interest rale mtrlhod. Trade creditors are obllgations to pay for goods or services that have been aqulred in the ordinary cowse of operations from suppliers. Amounts pay?bltr are dasslfied as cuThent liabil￿￿$ If payment is duè within on¥ year or less. If not, they are prÈsent•d as nOn-cu￿￿t liabilities. Trade creditors are re¢ogniséd Inhially at tran6action price and $ub$¢quenUy measured at amortijed cost using the effective intersst method. 15 cHARLO￿E HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMEiifs (CONTINUED} FOR ThlE YEAR ENDED 31 AUGUST 2020 A¢¢ountlng pollcl08 Icontlnued DerKognltlon of Iln•nclal liabilliles Financk•l liablrfles are derecognosèd when the cha￿￿8 ¢tsntraclual oblfvJotknn6 expire or ar$ discharg•d or cancelted. 1.10 Employ90 b•noflt6 The ¢ost of any unused holiday enlitlèm8nt Is r•cogni6ed in th• p•rlod in which the empW¢e's semces #re received. Termination b¥ngfits are recognised Nnmedialely os an expense when Iho ¢harlty is dèmonstr¥bty ¢omThitlgd lo lemilnate the employment of an employee or to provide tsmlnation benefits. 1.11 Retlrement benvfft¥ Payments to defined contribullon rnlirement bene16t schemos are charged 8$ On èxp8ns8 as IW tsll duè. The sch￿1 contiibules towwds Iho Tgachers, Pension Scheme I'TPS'I whlch Is a defined ban&ffit scheme. The TPS is an unfunded schèm8 and i£Jntribub'ons are calculated to spread the ￿$1 of penslons over employees. working lives ￿th the school In 5uth 8 way that the pension ¢ost Is a substantially level percentage of ¢utTenl and fvlure pen$ionablÉ payroll. The contribution$ are detemiined by the Govemment Actuary based on quadrennial valuations uslng a prospectivg untt credit melhod. TPS is an unlunded muHlemployer scheme with no undtrrfying assets lo assign befv￿n employers. Constquentty, the TPS 18 trealed a8 a definèd contribution scherne for accounting pury)oses and the CL￿trik￿lI0n$ recogni8ed In thè period lo which they r¢late. 1.12 Lea6e8 Rentals payable und¥r operallng lease8, in¢luding any lease incentives récelv•d. are charged •$ •n expense on a stralgm line basis overthe temi of the rebevant lease. Crltlcal •¢¢ounting èsllmatss and judgem•nts In th* appllcation of the tharitys acc￿n￿n9 p)licie8. th¢ trustees are required to make ludgements, estimates and as8urnpOons aboul the carying amount of assets and liabilitie5 that arg not readily app8rertl from other sourc?5. Thg trslimates and asso¢iated assumptions are basèd on historical experienrx $nd other fadors that are considered lo be relev¥nt. Actual results may drffgr from th&se estlmates. The esthmate3 underfyln9 assumptions are revt¢wéd on an ongoing basi8. R￿lS1OnS to ac4ounling estimate5 ar¢ r¥cognlsed in Ihe period in which th• •$timate is revised wher8 thè revision affe¢ts onty that peri¢xl, or In the pèriod of the revision and frjture periods where the revi$ion affects both current and luture period$. Grnnty don•ioon$ and1•gaeles Unr•$trletfrd Unrestrfcted RoStri¢l•d nd• funds fund8 Totsl 2020 2019 2019 2019 Donations and gifts Govemmenl gwant income 6,628 46,059 1,873 13.0 14.873 52,687 1,873 13.oc 14.873 CHARLorrE HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONnNVEDI FOR THE YEAR ENDED 31 AUGUST2020 c￿ritable activiti￿ - in¢ome 2020 2019 Sthool and regislr81ion foes other educational In￿Me Sehool meal receipts 1,446,969 7,504 1.425 1.499,900 11,200 1.665 1,4$5,898 1.512,765 Other Income Total Unre¥trict•d funds 2020 2019 InSurar￿e daim 224.6CX) 17- CHARLOTfE HOUSE SCHOOL UIIIITED NOTES TO THE FINANCIAL STATEMENTS IcoKfiNUEDI FCW 7HE YEAR ENDED 31 AUGUST2020 Charltable •¢tlvnièi Support A¢tl¥ltle8 osts undértaken dlr•ctly Total Totsl 2019 Staff costs Oèpreuation and impaimwnt Maintenanc• Rates & utilitiès Bursaries & discounts S¢hool books & consumables Subscrip*'on$ Insurance Proffit or loss on dispo381 Of tanvib￿ assets 158.746 848,109 1,006.855 62,440 62,440 151,216 151,216 27,745 27.745 77,521 77,521 17.868 17,866 6,397 6,397 16.519 16.519 991,937 73,699 347.354 31,076 83,805 24,072 6,993 14,928 12.919 158.746 1.207.813 1.366.559 1,550,743 Ganèral support costs Goveman¢e costs 39,915 10.196 39,915 10.196 88.287 10,728 208.857 1,207,813 1,416,e70 1,849,7S8 Indudod In 90￿ManCe costs above are audilo¢s remuneraknn for audit SeThi￿$ of £7,170 (2019 £6,967) and Th)n-audit ser¥lces of £3.026 {2019 £1.7601 Analy•i• by lund Unrestricted fvnds Restricted funds 208,857 1.208,519 1.415,376 1.294 1294 208,857 1,207,813 1.416,670 For the yearendod 31 Auyu8t 2019 Unrèstricted fundB Restslcte