Roglstored number.. 00656498 Charity numbor: 311270 LANGLEY SCHOOL {1960) LIMITED (A company limited by guaranto01 TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 LANGLEY SCHOOL {1960} LIMITED IA company limited by guarantse} CONTENTS Page Reference and admlnlstratlve detalls of the Company. Its Trusteas and advlser8 Trustees, rèport 2-15 Ind9pendent audltors. roport on the finanGial ststements 16-18 Consolidatad 8tat•ment of financlal actlvltlos 19 Con8011datad balance sheot 20 Compqny balancè 8heet 21 Consolidatad siatement of cash flows 22 Notgs to the financial statomonts 23.47 LANGLEY SCHOOL {19601 LIMITED IA company limited by guarante81 REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2020 Trustees Mrs J Brown MrJ H Miller Mr M T Newnham Lt. Col, M A Nicholas MBE DL, Chairman Dr H N Ne8rney Mr Z A Virgin Mrs C Paln Mr D Sl8nbridge (appointed 6 December 20191 Mr J {appolnted 6 December 20191 Mr J Bamw&ll {appoinled 6 December 20191 Mr D J Anderson Brown lappolnled 6 March 20201 Mr8 S L Tumer {r8signed 6 December 2019) Mr G E Watson (resigned 18 September 2019) Dr l Young lappoinled 18 September 20201 Company reglsterod number 00656498 Charity ragisterad number 311270 Registered offlce Langley Park Loddon Norfolk NR14 68J Independent auditors Larking Gowen LLP Chartered Accounlanls Slalulory Auditors King Slreot Housa 15 Upper King Street Norwich NR31RB Sollcltors Birketts LLP lthngfisher Hou86 1 Gilders Way Norwich NR31UB Page 1 LANGLEY SCHOOL (19601 LIMITED {A company limitod by guarantae) TRUSTEES. REPORT FOR THEYEAR ENDED 31 AUGUST 2020 The Tru51ees present thoir annual rèport togelh&r the audited financial 8lalem8nl8 of the Company and thè Group for th8 yg8r 1 Seplamber 2019 10 31 August 202D. The Annual report serves the purposes of both a Truslge8' report and a d1￿ctorS, report under company law, The Trusleos confimi that the Annual report and financial 51alements Df the charitable company comply wlh the current slalutory requirements, the requirements of the charitablo ¢ompany's governing document and the provisions of the Slalement of Recommgndgd Practiog ISORPI applicable lo charities preparing their accoun18 in accordance wlh the Flnanclal Reporting Standard applicable in Ihg UK and Republi¢ of Ireland IFRS102} (effective 1 January 20191. REFERENCE AND ADMINISTRATIVE INFOFiMATION Langley School {19601 Limited is a charitable company limited by guarantee. The Charity was found6d in 1980, and is registered with tho Charity Commisslon under charity number 311270, and with the cornpany registmlion number 00656498. Langley School119601 Limited gov8rnor8, execLilive officars and principal addr&sses of the Charity a￿ listed on page 1. Particulars of tho Chartty's professlonal advlsors are given on pag8 1. STRUCTURE, GOVERNANCE AND MANAGEMENT Govgrnlng document The Charity is governecl by ils memorandurn and articles of assoc4?tion dated 14 April 1960. In tho event of winding up the liability of each member is limilod to £1. Governing body Details ol the members of th8 goveming body of the Charity are Shown on p£ge 1. Organisational managtmènt The Governors, as the Iruslees of the Charity, are legally responsible for the overall manag&ment and control of the School. The full board of Govemors meets al least once a term, receiving reports and Tocommend8tions from committees which meet with a similar frequency, to d8lemiin8 th8 ganaral policy for th& School and lo revi8w ils overall management and control. The day to day runnlng of the School is delegated lo the Hea(Jmaster, supported by the Leadership and management tgams and staff. The Headmaster undertakes the key leadership role in overseeing educational, and pastoral functions in consullalion with the Chief Op8rating Officer for all admlnislralivelop&ration81 matters. The day to day adminislralion is undertakèn in Ilne wth th6 policies and Pr￿edureS approvad by the Govemor& The Headmaster, or a deputy, attends all Govemors, and sub committee meetings. There arg a numbgr of sub commltlees. Each commlttee is chaired by a Governor. The Educatiort Committee is the forum for acadgmic discussion in which Govemors and staff paruopate 8qually. In addiliori, the Education Cornmitiae rsceives larmly rep)rts from the Designated Safeguarding Lead's and annually reviews the SGhool's S8feguardlng, Anll Bullwng and Behavioural pollcles. The Resour￿& Committee has delegated responsibility for overseging the financial and businass managgm@nt of th@ School, scrutinising and reporting lo the Board on annual budgets and monitoring perfomiance. It also carries out regular reviews of major risks to which the School is exposed and annually determines the school budget vA)ich incorporates major capital @xpenditure for the y&ar ahead, in line wth th& school's strategic development plan. This CcKnmitteo is also responsble for discussion in all mallers relating lo the recruilmenl and retention of staff and tha running ol thè Sch(K)1'8 estal&s, Including Health and Safety and site developmenu rllaintenance. Page 2 LANGLEY SCHOOL119601 LIMITED (A Gompany Ilmit8d by guarantse) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2020 The School's M8rketing and Outreach Committee assumes delegat8d responslbllity by tho board of Govemors for all matters relating lo marketing and admissions along ￿th public knefll, communlty engagement and assocAation with the Iocgl community group& A newly formed Futures Group m8e18 on a lermly basis with the key objective of reviewing and1mplemenling the School's strategic vision. The Govarnors gav8 of their tim6 freely and no remungratlon or expenses were paid In the year, No Govemor or person connected with a Govemor received any b&nefi1 from m8ans lesl8d bursaries. The Headmaslerfs and senior staff remuneratlon was $¢1 by the Board, having reg8rds to pgrformance, 8xl8mal comparators an ben¢hm8rking with similar organisations. Recruitmont, Inductlon and trainlng of Govarnorg New Govemors are appointed at a rngeting of the board and are confirmed al the Annual General Meelbng. The Board recelves suggestions from Govemors. schoDI officers, advisoTS and unsoliGitèd requests. After an initial consideration of suitability. on the basis ol th8 8xisttng board's known skills and needs. and confinmation ol interest and eligibility, a detailed ravlew of suitability is carried out log6ther with an inleryiew before recommandation is made to the board. The Chalm)8n Snducts new governors and explains th8 Board's Policies and Pr0￿dUreS. The Schoo5 is a membgr of AGBIS (Association of Governing Bodies in Indapendenl Schools) and governors hav8 the Opp￿nItY lo attend relevant training and rafr8sher cour888. Tho Board conducts regular audits of the skill sets represented on the Board to ensure that there is a balan￿d m@mbership wlh an appropriate range of skiS1s and expertiso. AGBIS recommendations are follo￿d vjhere possible in dgcldlng the balance, expertise and number on the goveming body oth¢r Rèlatlonships The School acllvely supports th8 independent and stata sector. In particular, the furth8rallce of educational standards and the quality of pastoral care, through participation in, and subscription to, umbrella organisalions such as Society of Heads, Independent Association of Prep Scho(4s, Independent Schools Association ar Boarding Schools Association. The Schcrjl is also a member of the presliglous HMG, the Headmasters, and H8admislresses' Conference. The School co-operates wllh local charities and organisalions to widen publiG access lo th8 education that it provides and to oplimise the us& of sports facilities. This ranges from hosting sports events for local schools to a prefocts camp out for Sl Martin's Housing trust. The school has a relationship wlh the Friend Indebd charity and 8eauGhamp House, a local care homs. Langley Prep School has a long standing relationship wlh Harford Manor School, a school for children wlh complex leaming difficulli8S. Thg Icenian Society laluTnni) is active in U￿ng funds to improve the education of all al the school. The Langley P8r8nts, Teachers and Friends Association have helped a number of schwl departments during the last year and held some events. The￿ have been restrictad due lo the impaGt of COVID. Some 6xampl88 of events held havo been.. Soplember 2019- Headmaster's introduction lo pa￿ntS 'Ch8ese and Win6'. Funds towards the refreshments. September 2019 - Funded the 'Green Go Karts, for Mr Norton IDTI activity. Y9's Design, build and race the glèctric go-Kart, a Ghancb to develop their design and enginetrring Skills. September 2019- March 2020 -'Coff88 in the Carpark,, a chance for parenls lo m6et and chat at pick up lime, over a GUP of coff88. October 2019- Supported the Rugby F8slival, serving refreshments. November 2019 - funded 'Book Buzz, a reading programme from the Book Trust lo encourage reading for pleasure, each child from years 6-8 chDose and recoive a free book from a selec18d list. Page 3 LANGLEY SCHOOL119601 LIMITED IA company limited by guaranto9) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2020 F8bruary 202D- Supported the'Peler Pan. production providing refrashments. February 2020- funded and attended Sunday Brunch for the new Y617's parents and pupils, a Ghanc8 for n8w & old pa￿nIs, puplls and siblings lo rnegl and gel to know each other in an informal setbng. I futLJre events were then postponed or cancalled dus to the COVID-19 p8nd6mlc lockdom, induding Spring Ball, Quiz & Curry, 'Music Day support, sports day support, outdoor Cla￿roOM, 'Brunches' for the remainlng year8. Risk management The Governors arè r@spon￿bI& for the management of the risks faced by Langley School. They regulady assess the major risks lo which tho Sohool is expos￿ and Ihoy aro ￿t1$fied that systems arb In plaee 10 manage all identified risks. Tha Governors view th8 risks in terms of impact and probability. The Govemors considgr tha &CDnomic turbulencE of recont years and the affordability (rf fees by pargnts across the independent S6Gtor to be a major risk facfjd by th8 SGhool, Whilst the Board has confidenc8 In ils pr858nt recruilmenl strategy there is no room for complacency and particular attention is pald to marksting and pupil r6crullmonl in miligalion, Othor key risks Include risk lo reputation due to adv8r88 publicity, risk of not managing staff and olh8r costs, and failure to meet the financial requir8rn&nts for capital axpendilure and support of bursari08. Health and Safety is always a &gniflcanl area for risk managem8nt along ￿th. more rec6nlly, the Impact of pandemics, The School's approach lo risk management and internal control may be summarised as follows: the Govemor8 have oversight of risk management ￿￿thIn th@ School as a whole., the managernent of risk Is a ￿016 Schwl responsibility., all parties involved in the process adopt an open and receptive approach lo solving risk problems., Langley Leadership Toam I'LLT") prapares poticies for Governorg approval and implements such policies as are approvgd by the Governors. Each mgmber of the LLT Is responslble for fostering good risk management praGtice Ihroughoul the School and particulady within their area of resFX)nsibility. The Governorswll.. ensur8 the in18gralion of risk manageTment inlci the culture of the Sthool., lake major decisions affecting the School's risk profile or éxposure, determining what types of rfsk are acceptable and which ar6 not., monitor the management of significant risks lo reduce the likelihood of unwelcomg surprisas., satisfy ilsolf that léss signilicanl risks are being actively managed, with the appropriate controls in place which ar8 working effectively., annually revi8w th8 School's approach lo rlsk managem8nl, consider how offectively or olherwse controls have been irnplemgnted. approve changes to this policy and review the Risk Register as al the dal& of that review., de18gate lo the Resources, Education. Marketing and Outreach Commitloe's the responsibility to review the School's Risk Register each tgmi and to provid8 tha Govemors, raspons8 lo residual risk that the Committ8e does not consider necessary to rèfer to the Full Board. Pag6 4 LANGLEY SCHOOL119601 LIMITED (A company limltèd by guaranto9) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2020 The School's key controls Indude: detailed terms of r8ference for all Commillees., formal agandas for all Commillee and Board activlty, vrrillen minutes of all Board and Committtre meetings- established School Mana￿ment structure., clear lines ol wrnmunication wlh parents., formal written policies Govering all important aolivlli8s., COMprehen￿ve manag8m8nl accounting and reporting., strong ernphasi8 placed on recruiting and r8taining stsff; strict vetting pro&ures wth respect lo the employment of staff. 11 is recognis&d that systems aannol provide absolute assuranGo that all possible risks hav8 be&n identified or managed. Objectlves and aGtI￿tieS Pollcles and obJoCtIvg8 The company is consliluled undor a Memorandum of Association dalad 14 April 1960 and Is a registered charity, number 311270. In addition to ils Gharilable objectiV8S, the staled purp¢)se of th8 school is.. 'Langley School exists to provide a first class, all round educatlon wllhln a friendly, inclusive and supportlv6 communlly. By foCu￿n9 relonllessly on impmving standards our pupils will learn lo be independent, valued C4tiz6ns and develop their abilities to the full. We sglgd co educational boardars and day students, basod on their overall potential, who are prepared lo benefit from and be active partners in the continued success of Langley School." The School Governors are consaous that they musl comply with all aspects of charity legi81ation and ar8 aware of thelr new duli8s arising from the Charities Act 2011. The Governors confirm that, in exerc4sing their powers and duties. they have complied with their duty to have due regard lo the guid8nce on public benefit published by the Charity Commisslon as updated in Sgplernber 2014. Public 8en8fltlChariti08 Commission This year the v8lu8 of ￿holarshIpS grants, entrance prizes and other awards made lo the schwl's pupils out of unrestricted funds Was £2,900,478 12019.. £2,577,194) and £60,215 from restricted funds 12019.. £76,344). Langley School's policy in line ￿nth that Df other independent schools is to make Ih8s@ awards on the basis of the individual's educational potential although awards from restricted fun(Js are. of course, sutqecl to thè conditions applied by tho original donor. Tho School Govgrnors believe th8 bursari8s off8red by the charity, including 100Yo awards, wden public access. This is in addition to the sharing of many of its fa¢ilitl8S Mrilhin the local community. During a pandemic Ir6e year Langley School would operate a numbw of schemes that benefit local stale thlléren, For examplè: Science maslerclassés for Key Stage 213 pupils The sharing of sports facililios for example cluster SCh￿IS CTOSS couritry hosted al both schools Hosted clustèr primary cross country championshlps and prep and primary athletics evwis. L(Kal sports clubs, such as Carrow Hockey Club, use the thool facilitie& Page 5 LANGLEY SCHOOL {19601 LIMITED (A company limited by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Objectlves and activltios (continuad) b. Alms and int8nd8d Impact 11 Is the Governors. policy for both schools lo allain the highest academic levels, in addition to providing an extra curricular programme whSch aims lo devglop life long leisure interests and help build self confidence and a dadre to Contribute to the community. ¢. Objactlves for the year Langley School's primary objective this year was lo (x>nlinuo lo provide the best possiblo eduGation ancl care for each and every pupil whilst Continuing to build dose links bglw8an the Prep and Senior School as far as possible. In addition lo the recruitment of a new Headmaster to provide strong loadership for the next slaga of the School's developmènt. d. Strategios to achievg tho yoar's objoctlves Academ1¢ foundation The school conllnued ils wort( lo build a strong academlc founda￿On, 8nsuring hSgh quallty c18ssroom practice remained paramount. Teachers r6c81ved tailDf8d inset ￿th a focus on evidence based best practice focusing on areas that yi8ld the greatest change in pupil outcomes, such as developing pupils, motscognilive skills. The Russell Group and Oxbridg8 path￿ays programm8 was furth8r dgveloped wlh a r8cord seven pupils applying for eithar Oxford or Cambridge UnIVer￿lIes. Boardlng The b¢)arding facilities al the Prep ￿h0￿ were disconlinuod at th6 8nd of tho 2019 year. Boardlng at th8 senior schcA)I h88 continuèd to be popular. wlh the range of flexi, weekly and full option8 used. Pupils have oome from all across the world, something that has greauy enhanced the Gullural life of Ihe sGhool. Principal actlvltles of the year The principal aclivity of the Charity Is the provision of education to boys and girfs. The comblnad School closed tho year wth 821 students12019'. 8811 Boarding numbers were 78 by July 2020 12019= 1281. strategic report REVIEW OF ACHIEVEMEfrifs AND PERFORMANCE FOR THE YEAR a. Operational performance of the School The year was, inavit8bly, dominated by Covid lockdo￿ restricllons from the end of March 2020. The school, in all Ils, sections, provided support and care for the most vulnerable pupils and the children of key workers. There was a ramole lesson programm8 pul into plaG8 from tho start of the Trinily18rm 2020, The first half of term this wds a lighter touch for the junlor yèars, focu&ng on the ess6nlial subjacls and prqecl work. After hall 18rm, thara was a full remote timetable and a 'Mak& thè Lèap, proyramme created for those in Year 11 and the U6. There were a huge range of remote aGty'vlties on offer, from the PE livo streaming workouts, lo live cookery Page 6 LANGLEY SCHOOL119601 LIMITED IA company limlted by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Stratoglc roport (Gontinued) REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR Icontlnued} demonstrations. There were Still weekly chapel Servlces record￿, as well as 2 weekly Headmaster's assernbly and year group and house meetings, The tutors ch￿ked in ￿ryth their lutees each day and the 8chool h8ld a virtual speech day ceremony at the end of term. Both the Prep School {Novemberl and Senior School {Januaryl were visited by the inspèctors from ISI lo ¢ary out compliance inspections. The inspeGtion days went very well and both sites passed (there is only pass and fail) this inspection, A copy of the r&port is on thè w8bsite and was distributed lo parents. The Senior school also received an audit from th8 Home Office lo chock compliance with the regulations around inlarnational boarder entry and correct papawsrk. Thi8 was al80 passed and Ihe school's ability to tak8 in those on tier 4 visas vrds confirmed. Senlor School Academic A Levol our A'IA p8rcanlage was 49.10 and A'-C was 940/0. 80O/oof thdenl$ gaining their first choice univemty offers. W8 continued to gain outstanding Exl8nded Project Qualification IEPQI results in the 6th Fomi. along with an increating student uplak8. allowng more able Students to increase their academic profile for UCAS. At GCSE, ihe total A'.C 0/0 was 98.9 /D. 92'/ty of pupils gol 5 A'.C. A full programme of inl8rvenlion was developgd using lunchtimes, after sch¢Jol and holiday periods lo ensure e￿h Year 11 pupil and 6th Fomi student was given the opportunity lo succeed. National Blology and Chemlstry Olympiads. bringing home a Silver and Bronze for the Biology and Gold. Silver and Bronz& in thg Chemistry. Senlor maths challengè. The pupils were awarded the followng.. ￿ gold, two silvgr and six bronze. Norfolk Scholars and Oxbridg6'. The sthool had 38 Norfolk Scholars IABB or grealerl. Sixth Form AcadomiG Award Holdars. This new award rocts3nise8 exc8llencE at GCSE, with 63 points or more. This group of 20 took part in enrichrnent and exlen8¢on activities. 8TEC and other level 3 quallfications.. 7 disÉinclion8, 13 merits and 5 passes. Page 7 LANGLEY SCHOOL (19601 LIMITED (A company Ilmlted by guaranteo) TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 straieglc report Icontlnuod) REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR {Gontlnuedl b. Co.Currfcular A¢tlvltlos CCF Therg was an 8Xtenslve and va￿&d programme over the two tèrm$. Even in lockr*)wn, there were still CCF aclivilies and the (xdels worked towards particular qualifications. Sevon pupils were awarded their Young Lifosaver cortificales. Fourteen pupils were awarded their RAF Heart start c8rtifical88 Five puplls gained Ihelr RAF marksman awards Two pupllg wera awarded their RAF leadershlp certificates Model Unitgd Nations Participation in NORMAC al Norwch Schoo5 Wycombe Abbey event IWASAMUNI Dgbatlng Pizza and Polemic events were held al the school, wlh state and independent schools invited to tske part. The school also entèred ESU events. One pupil was a￿rded the b&818peaker awdrd in the ESU Churchill public speaking compelltion. Duke of Edinburgh Awards. Th8r8 w8r8 two silver and one bronz8 awarded this year, Rotary Young Chef awards- Ihls was won jointly by pupils In Year g. Rotary Challenge competition Gortifi¢ates w@r8 awardÈd to ten pupils. Muslc It was a busy two lemis for the music depathonl.. A levèl and GCSE age group soirees House music cA)mpekn'tion conducted virtually In October 2019. th? local drama group, The Loddon Players porfomied a production of Annie al the Schwl. It was w8lch8d by many in th8 locBI Community and Langley staff and PUFils were in the cast and band. 110 pupils took instrumental music lesg)ns. Associated Board exam8 were taken by over twenty pupils, achieving 8xcellent results. Drama Peter Pan was the major production of the year, taking place over 4 performan￿$ in February. 11 was walch8d by over a thousand p￿p1a, from staff, sch(xJl families and the local community. The matinee was perfom)ed lo the entire PrfrPrep and Prep school. It was very sad that there couldn't be the planned woodland setting of A Midsummer Night's Dream in the Trinity term. Over 40 LAMDA exams were completed, ranging from1gv811 to level 3, grade 7 {dislinction). Pago 8 LANGLEY SCHOOL11960) LIMITED IA company Ilmitod by guarant88) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2020 Strateglc report Icontlnued) REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR Icontinuedl Sport The SGhool has Gontinued lo provide a ￿de rang8 of sporting opporlunilies for pupils, both through a fixtur88 prcKJramme and opportunitios for elile players to progress with partner academios and national a&sociations. Rugby The 1 st XV had an excellonl season winning 10 out of their 11 fixtures temi and reachlng the Seml-Final of the U18 National Vase lo￿ng out to Newcastle Boys, School 74) in the final tightly oontested fixture of the season. Caplaln Tane Dunn was offered a full-lime contract by Wasps al the end of thè season and his lellow Academy t&am mate Slmone Panella won a rugby bursary lo 8runel Universty. Mean￿118 Lower 6th form pupil Joe Plunkotl repr&s8nt@d Leicester Tigers U18s who won the U18 Academy Laague for the 3rd consecutive y88r. Langley National Rugby Fgstival The fir51 weekend of the Octobèr half lemi saw 12 of the best rugby playing schDols in the country visit Langley Park for ￿al is now a well eslabli8hed National Rugby Fèstival. As hosts, the Langley sd8 8quitted themselves well on Day 1 of the competition, drawng against Campion SGhth)I from Ess8x in their opening game, beallng Sl Benedicts, Ealing. before succumbing lo Doan Clos8 from Cheltenham. This moanl that they went inloi Bo Competition on Day 2. Brighton College won the illustrious Savill's Cup for the first lime beating Trinity School, Croydon in the Final. The Junior teams also played some excellenl njgby with the U12 A team standing out wlh some very domlnant pgrformances against strong oppo&tion. The 7s s8ason wa8 cut short, but not before the U18 Girfs wgr@ able lo have their first Nn out at the Floodlit 7s at Wisbèch Grammar SGhoDI. Hockay 2019 was an excellent yegr for the senior hockey glrfs. Wlth over 30 girls representing th8 1X and 2x1, we have seon thè 1x1 progress lo the 4th round of the Nab'onal Cup and our rllosl successful 2x1 season ID date nning over 500/0 of their gamès. Wé were delighted to be able lo put out a further 10 tèams across the year groups with over 75 fixtures. Thore re a host of 8xcell8nl perfomances both in vlclory and defeat and there were ￿m9 high scoring malGh88 along the way loo. We are exceptlonal proud of our performances in the England Hockey Tler 3 national cup competillons, wth our teams al U12, U14 and U16 reaching the regional stagss of the competition. Thls is the first timg ￿ have had 3 teams athievillg this. Along thè way, there were 2 T3 county championship wns for the U14s and U168. In addition, wg had 9 girls repr8seriling th& school with Norfolk Hod(ey and 3 who mad8 the national club finals Tmlh sporting partners Harfeston Magpifjs. Natball Although, like lor many sports, the Coronavirus cul short th& netball sea80n, we still had an opportunity to play lots of netball. Page 9 LANGLEY SCHOOL {19601 LIMITED IA company Ilmltod by guaranto91 TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2020 strategic report Icontlnued) REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR {contlnued) Lsngley also launched the Netball Academy In January - welcoming girls from ages 11 10 18 to d8v8lop their skills further in more of an individual performance based environment. This season we were dellghlfjd to able lo pul out 151, 2nd and 3rd Senior teams - all working hard, playing hgrd and representing Ihe school ￿th great character. They had some closely fought matche8 Ihilh Norwch High School, Wisb8ch and Wymondham lo name a few. In the Area Cup Competi￿On our 1* team Play￿ SUFtrbly, eaming a place in the semi-finals only to be beaten by the overall wnn8rs. Our U13A team and U16A 18am took part in tho Norwch Schools16ague and came seC(￿d and flrst. A supor achievement for all those involved, not only were there some great team perfomian¢es but a great deal of player develDpment louk place due the chance lo p18y more competitive netball rnalches. In Y8ar 11 Ella Spear W8$ 88letled for ¢x)unly Irl818 & Talitha Kèy continued lo traln and p13y ￿1th county. We hosted a hugoly successful U12 netball tovmamgnl on a glorious day hore at Langley. 11 difforent stsle and independent schools came together for the tournament, which featured Some fantastic youth n@Iballers and saw Langley U12 A claim 3rd plac8 ovefftll. Football The Langley football started the year very poslively and enl8rgd teams In the County Cup Gompetitions from Under 12 IhrDugh lo U18s and in the ESFA National Competitions in selected age groups. The first 1st team were inspired up front by DJ Mi116t's goal scoring 8bililies and play makers Matt Ward and George Tong. They 18d th8 WAY Imth a series of strong p8rformanc8s eventually r6aching th8 County Final. Thls level of perfomiance was malched by the U16s also re￿￿ed the County Cup Final. Sadly, lockdown prevented these b￿? finals from being played along with th& other age group competitions. This led to particular disappointment for the Under15s who had reached their National Cup Semi-Final. In Ihg junior y&ars the U14 had reachod the County Cup Quarter Final and after a good run in the National Cup the U12s w8re thock8d al the QF stag8s. Cross-country Langloy SGhcx)I host6d ovèr a doz6n local primary schools in the Sohcols Sporting Partnership ISSPI Area competition and a lovely sunny October moming saw us open our doDrs lo local school children and speclalors. Followng a successful whole school House competition in De￿mber we thèn hosted the Norfolk Schools County Finals for the second consecutive year which saw hundreds of runners from schools all over Norfolk compete in races from U12- U18 ￿tegorieS hoping lo qualify lor English SchocAs' National Flnals. One pupil came 16th lout of 12001 in the London half marathon, Swimming One pupil county champion in four evanls, second in ￿ and third in a further ev&nl. He also posted national limes durfng lockdc>wn. Page 10 LANGLEY SCHOOL {1960} LIMITED {A company Ilmited by guarante9> TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 202D strategic rèport {continuad) REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR {continuod) c. Achlevemonts PerfDmian¢8 Langley Prep School Scholarships for academiG. all roLfjnd al￿ sport were plentiful this y￿r despite the disrLJpllon Iowdrds thè end of the acaderniG yaar caused by lockdown, el¢. Improved data analysis to track academic progress has b88n introduced in addition lo the growth mindset philosophy galharing further rllom6nlum. The School complottd and obtained the Opllmum Wellbeing Award for Schools IWAS) and further *ff were trained as mental health champions throughout the course of the year. The PSB, and in parbcular the project-bas6d 81emenl of this, were particularly useful during lockdown and further work wa5 U￿ertakén on ensuring 811 element$ of the independent198mer modes werg incorporated into our programmes of study. The h(xk6y season was particularfy sUcCes￿uL wth the U13 girls crowned county and eastem Tegion winners and wer8 ofbly d8nied a place in the nation81 finals through a cancellation of the tournam6nl due lo Covid-19. Clay pigeon shooting, fishing, canoeing and pistol shooting all featured this acadgmic year in addition to further opportunilias for the School's swimming squad. We retsin the pl8llnum level of the Natsonal Schools GaTMes Mark award. An outstanding produGtIDn of Joseph look place In the Lent term in addition to Earfy Years, and Pre-Pr8P Christmas productions. Results of the ABRSM music exams w8r8 once again excg51@nt with a 100D/o Pas8 rale, Opportunities for th8 choir lo porfomi were plentiful and four soirees allowed individual perfomiers to showcase their lalenl& Learning outside the classroom gained gToal8r Iracllon and addllional 81aff were Iralned up as Forest School praclilioners. Community links were developed further as the School's association wth bDth Harford Manor, a school for children with complex leaming needs, remains strong, and further links w8r8 forg8d with a local c8r8 home. The School continues to sharg its facilities with local schools, hosting regional cross INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF LANGLEY SCHOOL {1960) LIMITED (CONTINUED) Other Infomatlon Tho Trustee5 are responsble for the other infomiation. The other information comprises the Infom)alion included in the Annual report, other than the financial statements and our Auditors, report th8f8Dn. Otjr ownion on the financial statements does not covor the other Inlomialion and, except to the extent otheNise oxpllcitly slated in QLJr report, we do not expregs any form of as8urance conGlusion Ihereon. In connection wlh our audit of th8 financial statements, our responsibility is lo read the other Informatlon and, in doing so. consider whether th6 other information is materially Inconsistent wlh th8 financial slalgmonts or our knoM48dg8 obtained in the audit or Othe￿Se appears lo be materially misslaled. If we identify such material inconsisten¢ies or apparent material misslalemenls, we are requirod lo detemiins whelh&i Iherg is a matorial misstalemènl in the financial statements or a matgrial misslatemenl of the other information. If, ba8ed on the work we have performed, we conclude that th8re is a material misstatement of this other infomiation, wa are required lo report that faGt. We hav8 nothing to report in Ihls regard. Oplnlon on other matters prascrfbed by tho Companle6 Act 2006 In our opinion, based on the wort( undertaken In the COUTSe of the audSt'. the information glven in the Trustees, report including th9 Strategic report for the financial year for which the financial statements are prepared Is consistent wlh the finanTha1 statements. the Trustees. report and the Strategic report have been prepar8d in accordance applicable legal requirements. Mattors on whlch we are requlred to report by exc9Ption In the light of our kn￿￿￿8 and undetslanding of the charitsbl8 (x)mpany and its envlronmenl obtalned in thg coutse of the audit. we have not Id￿ti￿ed malgria5 misstatements in Tmslees, report including the Stralogic r8porL We have nothing to report in respect of the followng mallers in relation to which Companies Act 2006 requir68 us to report lo you if, in our opinion.. the parent charitable company has not kept adequate and sufflclenl accounting records, or r8lurns adequate for our audit hav8 not b8en re￿Ived from branch8s not visited by us., or the parent charitable company financial statsmgnts are not in agreement with the aGcDunling rerords and relurn8', or eertain disclosures of Trustees, remuneration specifi&d by law ar8 not made- or we have not received 811 the information and explanatlons we require for our audit. Pag& 17 LANGLEY SCHOOL119601 LIMITED (A company Ilmltod by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LANGLEY SCHOOL (1900) LIMITED (CONTINUED) Responsibilities of trustees As explain￿ more fully in the Trustees, responsibilities statement, the Trustees (who ar@ also th8 dlreclors of the Gharilable company for the purposes of Gompany law) aro rosponsble for the preparation of the flnancial statements and for being satisfied that they give a tru8 and lair view, and for such internal control as the Trustees delemiine is necessary to enable tha praparalion tsf flnanclal stslements that aro free from material misstatement, whether due to fraud or err(x. In preparing the financial slatemenls. the Trustees are responsible for assessng tho Group's and the parent charitable company's ability to continu8 as a gcxng concern, disclosing, as applicable, matters relal6d to going conc8rn and us¢ng the going concern basis of accountlng un18ss the Trustees either intend to liquidate the Group or the par8nl charitable company or lo cease operations. or have no realistic allernalive bul to do so. Auditors, rasponsibilities for thè audit of the financial 5tatement# OLJr objecliv8s are lo obt2in r8asonabl8 assuranc8 Bboul whglher th8 financial stslem8nts as a whole are free from material rnisstatemenl, ￿￿ether due lo fraud or error, and to issue an Auditors, report that includ£s our oplnion. Reasonable 8ssur8nce 18 a hlgh level of aswrance, bul is not a guar8nl8e that an audit conducted in accordance with ISAS IUKI wll always del&cl a malarial misslatem6nl when il axisls. Misstatements Gan aris from fraud or 8rror and ars consid8r8d ma18rial If, individLtally or in th8 aggregatg, they could reasonably be expected to Influen￿ the economic decisions of users taken on the basis of these financial statements. A futher description of our responsibilities for the audit of the financial slalements is located on the Financial Reportitbg CoJncll's websSte al: 'tor8re Thls descdpllon foms part of our Auditors, report. Use of our rèport This report is made solely lo th6 charitable companws members, as a b￿y, in accordanc& wlh Chaptgr 3 of Part 16 of the Compani88 Act 2006. Our audit work has been undertaken so that we might stale lo the charitable company's members Iht)s& m8tters wa are rèquired to stale lo Ihtrm in an Auditors, report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume r@sponsibilily to anyone other than the charitable company and its rnembors, as a body, for our audit work, for this report, or for the opinions we have formed. llLi Julia Grimmer Isenior statutory auditor) for and on behalf of Larklng Gowen LLP Chartered Accountants Stalulory Auditors King Street Houso 15 Upwr King Street Nomich NR3 1RB Date.. 26 May 2021 Page 18 LANGLEY SCHOOL11960) LIMITED (A company limltod by guarantae} CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 31 AUGUST 2020 Unrostrlcted funds 2020 Restrlcted funds 2020 Total funds 2020 Total funds 2019 Note Income from,. Charitable acllvlJe8 Other trading activitses Other income 9,944,800 327,117 1,246.292 {60,2151 9,884,585 327.117 1,246,292 11, 148,883 505,539 1,810,8TI Total incom8 Expendlture on: Raising funds Charitabl8 activities oth8r expenditure 11.518.209 (60,2151 11,457.994 13,465.293 567,798 11,315,020 507,798 11.315,020 1,064,742 672, 734 11,820, 783 1.OM742 Total èxpèndltur8 11,882,818 1,064,742 11947,560 12,493,517 Net movamant in funds {364,609) {1,124,957} {1,489,5661 97t, 776 Reconclllation of lunds: Total funds brought forwdrd Nel movement in funds 6.576,371 1,161,026 7,737,397 (364.609) 11.124,9571 {1 NB9,5661 6,765,621 971, T76 Total funds carrled forward 6,211.762 36,069 6.247.831 T,737,397 Th@ Consolidalad statement of financial aGlivitiÈs Includes all gains and losses recognised in th8 year. The notes on pages 2310 47 fonn part of these fin8ncial slalements. Page 19 LANGLEY SCHOOL119601 LIMITED IA company limited by guarantee) CONSOLIDATED BALANCE SHEET FOR THE YEAR ENDED 31 AUGUST 2020 2020 2019 Note Fixgd a$sgt$ Tangible assets Investments 13 14 10.834,650 50 10,912,900 50 10,834.700 10,912,950 Current assets Stocks Debtors Cash at bank and in hand 15 16 35.441 3,279.867 1,638,448 48,085 4,434,465 150,530 4,953.756 4,633,080 Creditors.. amounts falling due within one yesr 17 (4,681,386) (5.545, 742? Ngt current assots I liabilites 272,370 (912,062J Total assets less current Ilabllltles 11.107,070 10,000,888 Creditors.. amounts falling due after more than one year 14,859,239) (2,263,491J Total net assets 6,247,831 7. 731,397 Charlty funds Restricted funds Unreslricled funds 19 19 36,069 6,211,762 1. 161,026 6,576,371 Total funds 6,247,831 7. 737,397 The Trustees acknO￿edge their responsbililies for complying wth the requirements of the Act with respect to accounting records and ptep8ralion of financial slalemenls. The financial stsl nts were approved and aulhorised for issue by the Truslees and signed on their behalf by.. Lt. Col. M A Nicholas MBE DL (Chair of Trusleesl Dale.. 25 May 2021 Mr D J Anderson Brown The notes on pages 23 10 47 form part of these financial statements. Page 20 LANGLEY SCHOOL11960) LIMITED IA company limited by guarant9el COMPANY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 AUGUST 2020 2020 2079 Note Fixed assets Tangible assets Investments 10,834.650 650 70,912.900 650 14 10,835,300 10,913,550 Current assets Slod(s Debtors Cash al bank and in hand 15 16 35,441 3,249.316 1,637.929 47,605 4.392,448 141.680 4.922.686 4,581,733 Crodilors= amounts falling due within one year 14,648,232} (5,491.71f) Net current assets I liabilites 274,454 (909,978) Total assgts less current liabllltles 11,109.754 10.003,572 Creditors." amounts falling due after more than one year 18 14,859,239) (2,263,491J Total ngt assets 6,250,515 7.740,081 Charlty funds Restricted funds Unrestricted funds 19 19 36,069 6,214,446 1. 16t,026 6,579,055 Total funds 6.250,515 7. 740, 081 The Trustees a¢knO￿￿edge their ￿SponSIbl1111eS for complying with the requirements of the Act wlh respect to accounting records and preparation of financial stalemenls. The financial slalements e approved and aulhorised for issue by the Trusiees and signed on their behalf by: Lt. Col. M A Nicholas MBE (Chair of Trustees) Date.. 25 May 2021 Mr D J Anderson Brown The notes on pages 23 10 47 form part of these finanaal ststements. Page 21 LANGLEY SCHOOL {19601 LIMITED (A company Ilmltod by guaranteal CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2020 2020 2019 Cash flows from 0￿ratIng activlliès Ngt cash usgd in opèrating activiti•s 1,142,452 (723,242) Cash flows from Investlng actlvltles Interest received Pree88ds from the $818 of L9nglble fixed assets Pu￿has8 of tangible fixed assets 14031 4,963 301,305 1,069, 742 (1,732,137) (325,946) N&t cash (used Snyprovlded by Investlng actSvltles (1,416,801) 748,759 Cash flows from financlng activities Cash Inflows from ngw borrowing RBpaymgnls of borrowing N8w finance leases Repayments of flnance leases 4,400,000 {2,603.2901 f153,060J 137,778 {57,408) {344431 Net cash provlded byllused Inl financing aGtivities 1,762,267 172.690} Change in cash and cash equivalents in the year Cash and Gash equivalents at the beginning of the yèar 1,487,918 150,530 147,173} 197,703 Cash and cash equlvalents althe end oftho yoar 1,638,448 150.530 The notes on pages 23 10 47 form part of these financlal slatem8nl8 Page 22 LANGLEY SCHOOL {1960) LIMITED {A ¢omparTry limitèd by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Accountlng pollcles 1.1 Basis of preparatlon of flnanclal stalomonts The financial slalements have been prepared in accordance wth the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Ststemenl of Rocommonded Practice applicable to cthariti8S preparing thelr accounts in accordanG8 Imlh the FinanrAal Reportlng Standard applicable in the UK and Republic of Ireland IFRS 102} (effective 1 January 20191, the Financial Reporting Standard applicable in tho UK anLI Republic of Ireland IFRS 1021 and the Companies Act 2006. Langley Sd)001119601 Limited meols the dèfinitlon of a publlc b8nefil entlty undor FRS 102. Assets and liabili118s are Initially recognlsed at historical cost or transaction value unless olh8wse stal8d in th& relevant acGounling policy. The Consolldaled slalemenl of fin2ncial aclivities {SOFAI and Consolidated balan￿ sheet consolidate th8 finanoal ststem8nls of the Company and Ils subsidiary undertaking. The rosulls of th& subsidiary are Gonsolidaled on a lin8 by line bass. The Company has tsken advantage of the ex6mplion allowed under sgction 408 of the Cornpanies Act 2006 and has not pr8sgnl8d its Ststement of lInan￿al activities in these finanoi81 ststemenls. The financial statements are presented in Slerfing 1£), ￿[ch is the functional curretbcy of the mpany, and rounded to the nearest £. 1.2 Company status The company is a company limited by guarantee, The members of the company are tho Govemors named on page 1. In th8 evonl ol the company being wound up, the liability in resp8cI of the guarantee is limited lo £1 per memb8r of the company. 1.3 Going concorn The Govemors havo considered the level of funds held and the expected level of incom8 and expenditure for 12 months from the date of approving these financial statèments. The Governors consder that the budgeted income and expenditure and agreed banking facilities is sufficient with tho level of unrestricted reserves for Langley School119601 Limited lo be able lo meet its liabilities as they fall due. For this reason th6 Governors Gon&dgr il is appropriate for the financial statements to continue being prOpar￿ on a going concem basis. Pagg 23 LANGLEY SCHOOL119601 LIMITED IA Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Accounting policles (contlnuod) 1.4 Income All incom8 Is recognised onc8 thè Company has 8nlillement lo th8 income, it Is probable th81 the incom8 will be raceived and the amount of income receivable can be measured reliably. Donated services or facilities are r￿09￿1$ed when the company has control over the item, any condltfons as80ciated wlh the don8led item have been mel, the r8celpl of econornSc benefit from thè use of the company of the Item 18 probable and that economic benefit can be measured rèliably. In accordance with the Charities SORP IFRS 1021, the general volunteer time of the Friends is not recognised and rofer lo tho Governors, report for mor? information about Ihoir Gonlribulion. On receipt, donated professlonal services and facllltles are recognlsed on the basls ol tha value of the gift lo th8 Company Mthich is the amount il would hav8 be8n wlling to pay to obtain servi￿$ or facilities of equivalent economi¢ benefll on tho open mark¢l- a cO￿esPOnding amount is then recognised in expenditur8 th8 p8riod of receipt. Other Incomè Is recognlsed in ihe p8rfod in whlch11 Is receivabl8 and to the 8Xtent the goods h8V8 begn Providgd or on completlon of the 8ervice. 1.5 Expendlture Expenditure is ￿e09n[S￿d once there is a legal or conslructlve obligation to transler economic benefit to 8 third paty, il Is probable that a transfer of eGonomlc benefits wll be required In settlement and the arngunl of tho obligatlon can bo moasured rgliably. Expenditure is classified by activity. The costs of 98ch activity are made up of the total of direct costs and shar8d Costs, including support costs involved in undertaking each activity. Direct costs allributable to a single 8clivity are allocated direcuy to that activity. Shared cosls which contribut8 lo more Ihan one activity and support costs which are not attributable to a single activity are apF)Ortion8d beNveen those acliviti8s on a basis consistent wth the use of resources. Central staff costs ara allocated on the basis of lime spent, and é8prociation charges allocated on the portion Df the assgt's use. 1.6 Basls of consolldation Th8 Ilnandal slal8m8nls consolidate the accounts of Langley School 11960} Limited and all of ils bsidisry undertakings I'subsidiaries'l. The company has taken advantage of the exernplion contained within section 408 of the Companies Act 2006 not lo present ils own Incom& and expenditurè account. 1.7 Govarnment grants Government grants relating to 18ngible fixed assets ar8 trgal8d as def8rred incom8 and released lo the Consolidated slalemenl of finanGial activities over the expected useful liv&s of the assets concemed. Other grants are credited lo th8 Consolidated statement of financial aotivitigs as tho related expenditure is incurred. 1.8 Intgrast rec8ivabl8 Interest on funds held on deposll is included when r6ceivobte and th8 BmDunl c2n be measured reliably by the Gnup,. this is nomially upon nolificalion of the interest paid or payabl8 by the institution with whom the funds are deposited. Page 24 LANGLEY SCHOOL (19601 LIMITED (A company Ilmltod by guarante9) NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Accountlng poli¢ies (contlnued) 1.9 Taxatlon Tha Company Is considered to pass the tosts sel out in Paragraph 1 Schedul8 6 ol Ihg FinanG8 Act 2010 and therefor811 meets the definition of a charitable company for UK corporation lax purposes. Accordingly, the Company Is potentially exèmpl from taxation in respect of incomè or c8pllal gains received wthin cstegories covgrod by Chapter 3 Part 11 of the Corporation Tax Act 2D10 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the exlenl that such income or gains are applied exclusively lo ch8rwtable purpose5. 1.10TangSble fixed assgts and deprttiatlon A r8Vi8w for impairment of a fixed asset is caryied out if evènts or changes in circumsl8noes indicate that the carrying valu8 01 any fixed ass&1 may not be Tecoverable. Shortf8118 between the carrying value of fixed assets and their recoverable amounts ar8 rgcognlsèd as Impairmènts. Impaimienl losses are re￿gnised in the Stslemenl of financial activi118s. Tangible fixed assets are carrled at cost, net of depreclalion and any provision lor impairm8nl. Depreclation is provlded at r8tes calculated to write off the cost of fixed assets,1gss th8ir estimated resdual value. over Ihelr expected uselul liv8s on th8 following bas8s'. Freehold propety Plant and machinery Fixtures and fithngs 25, 1.11 Investments Fixed asset inveslmènls are a fomi of financial instrLJment and are initially recognised at their transaction cost and subsequently Measur￿ at lair value al the Balance sheet date. unless the value cannot bo measured reliably in which case il is rneasur￿ al Gost less impairment. Investrllent gains and losses, thether realised or unreali8ed, are combined and presented aS'GainsllLos￿sI on inveslmenls, in the Consolidated statement of financial aclivitles. Inve8lmenls In subsidiaries are valuad at cost less provision for impairm8nl. 1.12 Stocks Stocks are valued al Iha lowEr of cost and nel r8alisabl8 value after making dutr allowance lor obsolete and slow-moving stocks. Cost includtss all direct cost8 and 8n 8pproprialB proportion of fixed and variable overheads. 1.13 Debtors Trad8 and other debtors are recognised al the setdemenl 8mounl after any trad8 discount offered. Prapayments are valued at the aTMount prepaid net of any trade discounts due. Page 25 LANGLEY SCHOOL11960) LIMITED {A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Accounting policios Icontlnuod) 1.14 Cash at bank and In hand Cash al bank and in h8nd includes cath and short-lèm highly Ilquld Snv8Stments ￿1th a 8hDrt maturity of th￿a months or less from the date of acquisition or opening of the deposit or ￿MIlar aocounl. 1.15 Llabllltles and provlsbns Liabilities are recx)gnised when there is an obligation al the Balance she81 dale as a result Df a past event. il is probable that a transfer of economio benefit wryll b¢ roquired in settlement. and the amount of the s81118ment can b8 estimated reliably. Llablllliès are rbrA)gnised al the amount that the Company anlicip8t68 11 Mill pay lo settle thè dÉbt or the amount it has r￿1Ve￿ as advanced payments for tho good$ or $erviGos il must provide. Provisions are m8asured al the best estimate of the amounts required lo settle the obligallon. Wher8 the effect of the time v81ue of monay is maleri81, the provilon is based on the prasenl value of those amounts, discounted at the pre-tax discount rale that refl&cls the risks specific to the liability- Th& unwinding of the discount is recognised in the Consolidal8d statement of financial 8Ctivilies as a finance cost. 1.16 Financial instrument8 The Group only has finanGial assets and financial liabilities of a kind that qualify as basic financial inslruments. Basic financial instruments are initially recognis8d al transaction value and subsequently measured al their selllement value ￿1th the exception of bank loans whlch are subsequently mèasured at amortiS8d cost the 8ffecliva interest method. 1.17 Operallng leasos Rentals paid under operating leases are charged lo the Con801idaled statement of financial activities on a straight line basis over th816as& term. 1.18 Penslons Th8 schcx)I conlribules to the Teachers. Pension Sch8me, a contributory scheme administered by Teachers, Pensions on behalf of the Department for Education. Contributions are rnade at rates sel by the Governmènt's actuary and advised to the school by th8 sch8m& administrator. The school also contributes to personal psnsion sch8mes for other non-leaching staff. Contributions to thg penson scheme are tharged to the company's income and expendi￿re account when payable Page 26 LANGLEY SCHOOL {1960) LIMITED {A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 ounting poliGies {Gontlnued) 1.19 Fund accountlng General funds are unrestricted funds whi¢h aro available for use al the discr8tion of the Trustees In furth8rance of the general objecliv8s of th8 Group and ￿1¢h have not been designated for other purposes Reslrtcted funds are funds which are lo be used in accordanc8 ￿th specific restrictions imposed by donors or which havè beèn raised by the Group for particular purposes. The costs of raising and administe17ng such funds are chargod against the speclfic fu￿. The alm and of each rèstricted fund is sel out in Ihg notes to the financial statements. Crftlcal accountlng 8stlmat8s and aroas of judgment Estlmal8S and Sudgmenls a￿ continually evaluated and arè bas8d on historioal gxp8ri9nce and other factors. including expsctalions of future èvents that are believed lo be reasonable under the CArcumslances. Critical ac(ounling 6stimates and assumptlons., The Company makes estimates and assumptions Goncgrning the futur8. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estirllates and assumptions Ihal hava a significant risk of causing a material adjustment to the Garying amounts ol assets and liabilities within the next financial year 8re discussed below. itical areas c)f judgment= U86ful economic IIv88 of tangible assets The annual depreciation Gharye for tangible assets is sensllive lo changes In the estlmated usaful lives and r8sidual values of th$ a*ets, The useful economic Ilv8s and rgsidual values are reassgSS@d annually. They ar8 amended when necessary lo reflect current estimatès, ba￿ on technological advancement. future investments, economic utili￿tIon and the physical condition of th6 assets. See note 13 for the carying amoLJnt of the tangib18 fixed assets and note 1.10 for the depreciation rates applie for each class of assets Impairment of fee debtors The company makes an estimate of the recoverable value of Irade.deblots and Other debtors. When a*essing impaiment of Irsde or other dgbtors, factors are considered including the cuThont financial position of the debtor, the ageino profil& of the debtors and historical experience. Seg note 16 for the nel carying arnount of the debtors. Page 27 LANGLEY SCHOOL {19601 LIMITED {A company Ilmltod by guarant?9) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 InGome from charitable actlvltles 2020 2019 Gross Fees Less.. bur8ade8 and d18counts Add.. bursaries and dlscounts pald from rastricted funds 12,634,319 13,499, 194 {2,975,4161 (2,653,538) 60,215 76,344 9,719.118 10,922,000 Registration and other tuition fees 165,467 226,883 ,884,585 11, 148,883 Fee discounts and bursaries o)st8 for 2020 include an exoeplional amount of £378,972 in rèspect of the GovemDrs special discount awarded for Trinity term 2020. Charity tradlng Income Unrestricted funds 2020 Total funds 2020 SchoDI transport 327,117 327,117 Unrestrirtad funds 2019 Total funds 2019 ScJ)ool transport 505,539 505,539 Pag8 28 LANGLEY SCHOOL119601 LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 (Xhor InGomlng r•sources Unrestricted funds 2020 Total funds 2020 Bank interest reGeiv8ble Lellings and catering Ftofil on sale of flxed asset Coronavirus Job Retention Schème inrK>me 14,031 358,058 505 14,031 358,058 505 873,698 873,698 Totsl 2020 1,246,292 1,246,292 During Ihg year, the School r8celv8d exceptsonal govemmenl funding as part of the Coronavirus Job Ret&nlion Stheme. Funding represents the costs of ornploying certain staff unab18 to carry out th8ir dulles as a result of thè ¢oronavirus Grisis. UnrestriGted funds 2019 Restricted funds 2019 Total funds 2019 Bank interest receIva￿e Lettings ané cal6ring Profrt on sale of fixed asset 4,963 736, 766 4,963 736, 166 1,069,742 1,064, 742 rotal 2019 746, 129 1,064, T42 1,810,8T1 Page 29 LANGLEY SCHOOL (19601 LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Expendltura on ralslng funds Fundralslng tradlng expenses Unrestrlcted funds 2020 Total funds 2020 Dir£cl costs Staff c08ts 259,037 308,761 259,037 308,761 Total 2020 567,798 567,798 Unr&stricted fvnds 2019 Total funds 2019 Dlrect costs Staff costs 338, 174 334,560 338, 174 334,560 Total 201g 672, 734 672, 734 Analysis of expenditure on charltable aotivitie$ Summary by fund typg Unr￿trIct0d funds 2020 Total funds 2020 Charitabla activities 11,315,020 11,315,020 Page 30 LANGLEY SCHQOL119601 LIMITED (A company Ilmltsd by guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Analysls of expendlturo on ¢harltablo activities {continugd) Summary byfund type Icontlnued) Unrestrictsd funds 2019 Total funds 2019 Charitable adivllio$ 11,820, 783 11,820, 783 Summary by expendltur6 type Toial funds 2020 staff costs Depreciation Othor costs 2020 2020 2020 Charitable advilies 8,675,339 444,847 2,194,834 11.31 S,020 rot81 fvnds 20t9 Staff costs D8preci8tKTrn Other costs 2019 2019 2019 Charitable 8cliviti8s 8,692, 123 483,833 2,644,827 11,820, 783 other expenditure Restrfcted funds 2020 Totsl funds 2020 Tot81 fvnds 2019 Taverham Hall roof repair work 1,064,742 1,064,742 Pagè 31 LANGLEY SCHOOL11960) LIMITED {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Analys18 of èxp6ndlture by actlvltles Actlvltles undertaken directly 2020 Total funds 2020 Dsrect costs 11,315,020 11.315,020 undertsken directly 20tg Total funds 2019 Dlrecl costs 11,820,783 11,820,783 Analysls of dlrect costs Total funds 2020 tivitiès 2020 Wages (incl Nl & P8n8lonl Depre￿&￿10n Property costs Cal8ring 8,675,329 444,847 714,403 221,846 8,675,339 444,847 714,403 221.846 i li IT and communiGalions Insuranc8 Marf(eting Professional fegs Finance Gosts 225,723 120,146 125,866 269,746 45,183 84,074 69,832 318,015 225,723 120,146 125.866 269,746 45,183 84074 69,832 318,015 Loan interest Sundry Oiher educ8tional costs Total 2020 11,215,020 11,315.020 Pag8 32 LANGLEY SCHOOL119601 LIMITED {A company Ilmlted by guarante6) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Analysls ol expendltur¢ by activities (continued) Analy818 ol dire¢t Gosts (contlnuodl Total funds 2019 Actlvltles 2019 Wages {Incl Nl & Penslonl Depreciation Property ¢osts Catering IT and communicatior Insuranc8 8,692. 123 483,833 7￿,451 350,039 323,242 93, 732 8,692, 123 483,833 7￿,451 350,039 323,242 93, 732 E 11 Marketing Profession81 fees Finance costs Loan Snterest Sundry Olh8r educational costs 98, 702 256,303 28,462 81. 720 57.607 604,589 98, 702 258.303 28,462 81, 720 57,607 604,569 Total 2019 11,820, 783 11,820,783 10. Auditors. remuneration 2020 2019 Fees payabl8 lo th8 Company's auditor for the audit of tha Company's annual accounts 37,000 36,625 F&es payable to th8 Company's auditor in r6spgcI of.. All non4udit services not inGluded above 3,000 2,655 Page 33 LANGLEY SCHOOL {1960} LIMITED IA company Ilmlted by guarantoe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 11. Staff costs Group 2020 Group Company 2019 2020 Company 2019 Wag6s and salaries Social securlty costs Contribution to defined contribution p8nslon schemes 7,339,1 q7 623,343 7,676,653 648,640 7,030,356 623,343 7,342,093 648,640 1.021,640 701,390 1,021,840 701,390 8,984,100 9.026.683 8.675,339 8.692. 123 The averago number of pewns employed by the Company during the year was a8 follows.. Group 2020 No. Group 2019 No. 3Q5 The number of employ&ès whose employeè benefits lexcludlng employer penson costs} excoed8d £60,OOD was.. Group 2020 No. Group 2019 No. In the band £50,001- £60,000 In thg band £60.001- £70.000 In Ihg band £70.001- £80.000 In thg band £90,001- £100,000 In th& band £11 O,Q01- £120,000 In the band £200,001- £210,OQO Contributions were made to the defined bonefil Teachers, Pen&on Scheme for 2 higher paid employees {2019'. two higher p?id employtsel with contributions amounting to £51,93712019 £40,2361. The Key Managemant P8rsonnel in the year received lotsl remungratitsn {including èmployers NIC and pension) of £292,88212019.' £361,083). Slaff costs indude £129,78512019.' £g3,673) in respect of redundancy and termination payments. 12. Trust8os' rwnun&ratlon and expenses During the yaar, no Tnjstees recelved any r8munerats.on or other benefits (2019- £NILJ. Pagg 34 LANGLEY SCHOOL {1960) LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 12. Trustèos, remuneration and expgnses (contlnuedl During the year end8d 31 Augu812020, no Truste& expenses hav8 been incurred (2019- £NIL). 13. Tanglbl8 flxad as￿ts Group Freehold propèrty Plant and Flxtures and machlnery flttlng8 Totsl Cost or valuation At 1 September 2019 Additions Crfsposals 12,734.126 643,085 1320,000} 377268 3,488,568 16,599,962 24,310 667,395 (320,000) Al 31 August 2020 13.057.211 377,268 3,512,878 16,947,357 Dapreciation Al 1 Septamber 2019 Charge for th& year On disposals 2,259,639 280.313 (19,2001 241.513 2,890 3,185,910 181,642 5,687,062 444,845 (19,200) Al 31 Augu812020 2,500,752 244,403 3,367,552 6,112.707 Not book valua Al 31 August 2020 10,556,459 132.865 145,326 10,834,650 At3f Augusl 2019 10,474,487 135, 755 302,658 10,912,900 Page 35 LANGLEY 5CHOOL11960) LIMITED (A company Ilmltsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 13. Tanglble flxod assgts (Continued) Group (continued) Company Freehold property Plant and Flxturos and machinery flltlngs Total Cost or valuatlon At 1 S8plember 2019 Additions Dlsposals 12,734,126 643,085 (320,000) 371,550 3.488,568 24310 16,594.244 667,395 (320,000) Al 31 August 2020 13.057.211 371,550 3,512,878 16,941,839 Dopraclatlon Al 1 Sèpt8mber 2019 Charge for the year On disposals 2,259,639 260,313 119.2001 235.795 2,890 3.185,910 181,642 5.681,344 444,845 {19,200) At 31 August 2020 2,500,752 238,685 3.367,552 6.106,989 Net book value At 31 August 2020 10,556,459 132.865 145,326 10,834,650 AI 3tAugust 2019 10.474,487 135,755 302,658 1D,g12,9QQ Page 36 LANGLEY SCHOOL119601 LIMITED (A company Ilmltèd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 14. FIX￿ asset Investmènts Unlisted InV￿￿￿Ont￿ Group Cost or valuatlon Al 1 Sepl8mber 2019 50 At 31 August2020 50 Ngt book valug At 31 August2020 50 At31August 2019 SQ Investments subsldlary Unlisted companles Investmants Total Company Cost or valuatlon Al 1 S8pl8mber 2019 000 50 650 At 31 August2020 61JO 50 650 Net book value At 31 August2020 600 50 650 At 31 August 2019 600 50 650 Page 37 LANGLEY SCHOOL119601 LIMITED {A Gompgny limited by guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 15. Stocks Group 2020 Group 2Q19 Company 2020 Company 2019 Consumabl8S 35,441 48,085 35,441 47,605 16. Debtors Group 2020 Group 2019 Company 2020 Compan 2019 Due wlthln one year Traée debtors Amourhls owed by group undertaklng8 Other d8blors Prepayments and accrued incAm8 2.980,562 3,019,423 2.975,502 2,983, 726 23,464 1,064, 742 320,516 19,037 280,268 1,076,926 338, 116 13,340 260,474 3,279,867 4,434,465 3,249,316 4,392,448 Autumn lemi fe8s are includad within trade debtors. Page 38 LANGLEY SCHOOL {1960) LIMITED (A Gompany Ilmltod by guaranto9) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 17. Credltors: Amounts falling duè within one year Group 2020 Gmup Company 2019 2020 Company 2019 Bank loans Trade Creditors Amounts owed to group undertakings Other taxation and Social security Obligations under fInanc￿leaS8 and hire purcha* contracts Other creditors Accruals and deferred income 919,802 246,992 919,802 228, 197 272,669 263,218 24,142 457,594 468,503 164,691 760,839 45,927 197.898 3.896.389 45,926 212,328 3,955,403 45,927 188,462 3,688,889 45,926 181,544 3.955,403 4,681,386 5,545,142 4,648,232 5,491, Tll Deferred InGome The tabl8 b@low inctudes both amounts due wthin ona year (Note 161 ?nd after more than one year (Note 171, Group 2020 Group 2019 Company 2020 Company 2019 D8ferr8d income al 1 September 2019 Resour￿5 deferred durlng th8 yezr (due wlh ono yearl Resources deferred during the year (due after more than one yearl Amounts rel¢ased from previous periods 4,087,470 4, 728, 601 4.087.470 4,728,601 3.279,466 3,542, 741 3,279,466 3,542,741 458,409 544, 729 458,409 544,729 (4087.4701 r4, 728,601) {4,087,470) (4,728,601) 3,737,879 4,087,4TO 3.737,875 4,087,470 Deferred income includès autumn temi fees invoiced in advanc6 ol the year and. Pag8 39 LANGLEY SCHOOL {1960> LIMITED (A company Ilmlt8d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 18. Cradltors: Amounts falling duè after more than one year Group 2020 Group 2019 Company 2020 Company 2079 B8nk loans Nel obligations under finance lease and hiro purchase wnlracls Accruals and deferred incom6 4.400,830 1,684,318 4400,830 1,684,318 34,444 544, 729 34,444 544, 729 458,409 458,409 4,859.239 2,263,491 4,859.239 2,263,491 Included wlhin the abovè are amoun18 falllng due as follows.. Group 2020 Group Company 2019 2020 Company 201g Between onfj and two years Bank loans 96.654 t98,993 96,654 198,993 Between two and flve yeard Bank loans 4,304,176 579,499 4,304,176 579,499 Over five yèars Bank loans 905,826 905,826 The loan is secured by a legal charge over land and buildlngs al Langley School, Langley Park, Loddon and land and bullding8 al Tavetham H811 Sohool, Tavetham Park, Taverham, The bank loan is provided up to £5m, of whi¢h £4.4m had b8en dra￿ do￿ at 31 August 2020. The first installmenl is due for payment in August 2021. Interest is Charg￿ at 2.25Yo 8bove bas8 rale 8nd the loan is due for ropaymènl in the year ending 31 August 2025. Pap 40 LANGLEY SCHOOL {19601 LIMITED (A company Ilmltsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 19. Statement of fund8 ststement of funds - curront year Balance at 1 September 2019 Balance at 31 August 2020 Incomè Expènditure Unrestrfcted funds Revenue reserve 6.576.371 11.518,209 (11,882,818) 6,211,762 Restrlctsd funds Tavèrham Hall bursary Tgvetham Hall roof repair 96.284 1,064,742 160,215) 36,069 {1,084,742) 1,161,028 160.215) {1,064,742) 36,069 Total ot funds 7,737,397 11,457,994 112,947,560) 8.247,831 Followng the merger )h￿th T8V8rham Hall E￿￿8110na1 Trust Llmited in 2017 a restricted fund was established in order lo meet the anticipated costs of discounts relating lo fee matching Commitments agreed for the preparatory pupils Iransf8rrfng lo Langley Preparatory School at Taverham Hall. The reduction in the restricted fund balance of £60,215 reflects the costs of fee discounts borne In the ygar. A restricted fund has besn established followng the sale of a parc61 of IBnd al Langley Prep at Taverh8m H811, The proceeds of the sale are to utilised lo improve the structure of tha main hall. in particular the roof of thg main hall. Pag6 41 LANGLEY SCHOOL {1960) LIMITED (Acompany limlted by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 19. Statemènt of funds (continued) statqment of funds - prlor year Balanc8 al 1 Seplembor 2018 Balanc8 &1 31 August 2079 Income Exp8ndlture Unrestrlctod funds Revanue reserve 8,592,993 12,476,895 (12,493.517) 6.576.371 Restrictad funds Taverham Hall bursary Tav8rham Hall roof ropair 172,628 [76,344) 1,064, 742 96,284 1,064. 742 172,628 988,398 1, 167,026 Total of funds 6,765,621 13,465,293 (12,493,517) 7,737,397 20. Analysls of net assats batween funds Analysis of nel assets betwaen funds . current period Unrestricted Rèstrlcted lunds funds 2020 2020 Totsl funds 2020 Tangiblé fixed 8ss8ts Fixed asset investrnen18 Current assets Creditors due wlhin one year Creditors due in more than one year 1 D,834,650 50 4,917,687 14,681,386) 14,859,239) 10,834,650 50 4,953.756 (4,681.3861 {4,859,239} 36,069 Total 6,211,762 36,069 6.247,831 Pag8 42 LANGLEY SCHOOL11960} LIMITED IA Gompany Ilmlted by guarantèe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 20. Analysls of net bètwgen funds (contlnuedl Analysls of nat assots bgtw8en fund8- prior pgrfod Unreslrict8d funds 2019 R8stri¢led funds 2019 Tot?1 funds 2019 Tangible fixed assets Fixed asset inv8slmonls Currènt awls Creditors due within ont year Creditors due in moro than one year lo,912,￿0 50 3,472,054 15,545,142) 12,263,491) tO,912,900 50 4,633,080 (5.545, 142) (2,263,491) 1.161,026 Total 6,576,371 1.161,026 7,737,397 21. Reconciliation of net movement In tund¥ to net cash flow from operatlng activiti8S Group 2020 Group 2019 Nel incomelexpenditure for th8 Pgriod {as per Slatèmenl of Financial Aclivlliésl {1,489,5661 971,7T6 Adjustmènis for: Deprec4alion charges Interest received 444,845 483,833 (14,031) (4,963) 1505) (1,069,742) 12,644 (29.422) 1.114.127 {800,923J 130,275} (273,801) Profil on the sale of fixed assets Decreasel(increasel in stocks Decr6as¢l(inGreasel in debtors Decrease in creditors Not cash provided byl{used In) operatlng activities 37.239 {T23,242) Page 43 LANGLEY SCHOOL119601 LIMITED (A Company Ilmlted by guarantsè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 22. Analysls of cash and cash èqulvalents Group 202Q Group 2019 Cash in hand 1.638.448 150.530 Total cash and cash oqulvalgnts 1.63B.448 150,530 23. Analy$i$ of changes In not dgbt At31 August 2020 Soplomber 2019 Cash flows Cash at bank and in hand Debt due ¥Mthin 1 year Debt due after 1 year Finance leases 150,530 1A87,918 {919,802) 919,802 {1,684,3181 12,716,512) 14,400,830) 180,3701 34,443 145,Y27) 1,638,448 {2,533,9601 1274.349) 12.808,309) 24. Penslon commltmonts Thg School participates in the Teachers, Pen5ron Schame I"Ih6 TPS'I for its leaching staff. 5ntroduclion The Tèachers, Pan￿On Schem8 ITPSI is a stslLJtory. unfunded, defined benefit ￿h8￿e. gov8rn8d by the Teachers, Pensions Regulations 2010, and the T8achers' Pension Sch8me Regulations 2014. These regL¢lalions apply lo 18achers in Schools and other educational ?slablishmènts, including academies, in England and Wales that are maintained by local 8ulhoritias. In addition, teachers in many independent and voluntary-aided Schools 8nd la2ch6rs and lecturers in some oslablishments of further and higher educallon may be eligible for membership. Membership is automatic for full-time teaEher5 and18Cturers and, from 1 January 2007, automatic too for teachers and ledurers in part-lirno employment following appointment 01 a change of contract. TeaGhers and lecturers are abl8 lo opt out of th& TPS. Pag@ 44 LANGLEY SCHOOL {19801 LIMITED {A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Pgnslon Gommltmonts (Gontinued) Th6 Teachers, Penslon Budgeting and Valuation Account Although members may be employed by various bodlès, their retirement and other p&nslon benèfits are sel out in regulations made Ljnder th8 Sup8fdnnualion Act 119721 and Public Servic8 Pensions Act (20131 and are paid by public funds provided by Parfiam8nt. The TPS is an unfunded sch&m8 and mombers contribute on a 'pay as you go, basi8 th8se contributions, along wlh those made by employers are credited to the Exchequer under arrangements govemed by th6 above Act. The T88chers' Penslons Regulatlons 2010 require an annual awounl, the Teachers. Penson Budg91ing and Valuation Account, lo be kept of receipts and 8xpendilure linduding the cost of pension increase8}. From 1 April 2001, the Account ha5 been cr8dited wth a real rale of return, which is equivalent lo assuming that the balanco in tho A¢¢ounl is Invested in notional investments that produce that real rale of relum. Valuallon of the Teachers, Pension Scheme The Governm8nl Actuary, U￿ng normal actuarial principles. conducts a formal actuarial review of the TPS in accordance wth the Public se￿1￿ Pensions (Valuations and Ernployer Cost Capl Directions 2014 publlshed by HM Treasury. The aim of the review is lo specify the level of future conlribulions. AGtuarial schome valuations are dep6ndanl on a￿uMptiOn8 about tha value of future costs. design of b8nefils and many other factors The previous actuarial valuation was Carried out as at 31 March 2012 and dèl&miingd the contributions for the period. which were paid at a ral& of 16.480/0. This rale has been paid since September 2015. The latest valu8tlDn of the Teachers. Pension Scheme has now tsken plaGg, in lino with directions issued by HM Treasury and using membership data as Bt 31 March 2016. As a [@￿11 of this valuation TPS employers wll pay an increased contribution rate of 23.680/0 from September 2019 (this includes the administration levy of 0.8'/ol. The employer's pension costs paid to TPS in the period amounted lo £1,021,64Q {2019.' £701,390). Contributions tolalling £117.837 {2019.. £7g,2021 were payable al the y8ar gnd ar8 included in creditors. A copy ol the latest valuation report can be found on the Teachers, Pension Scheme website. Under the delinilions s8t out in FRS 102. the TPS is an unfunded mulli-employer pen&on scheme. The a¢ademy ha8 accounted for its contribLrtions lo Ihg ￿h$Ma as if il were a defined oontribution sch8me, Scheme Changes The arrang8Ments for a rèformed Teachers. Pension Scheme, in line with the recommendations mad8 by Lord Hullon, in particular the introduction of a Career Average Revalued Earnings ICAREI schetne, were implemsnled from 1 April 2015. In December 2018. the Court of Appeal held that Iransilional protection provisions contsirned In Ihe refomied judicial and firofightgr pension scheme8, inlrodueett as part of public service p8nsion reforms in 2015, gave rise lo dlr8cI age discrimination and were therefore unlawful. The Supreme Court, in a decision madé in June 2019, have rejected the Government's application for permission lo app6al the Court of Appeal's ruling. The case will n()w b8 ref8rr&d lo an Employment Tribunal for a decision regarding the remedy which wll need lo be offered lo those m¢mb&rs of th@ schemes who werg subjèct of the age discrimination. Page 45 LANGLEY SCHOOL {1960) LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 24. Penslon commltmonts Icontinuedl HM Treasury are clear that the rullng has Implications for th8 Other public se￿iCe schemes, includlng th Teachers, Pension SGheme. Those implications are currently being considered and any impact on scheme costs is expected to be looked at within thg next ￿hoM9 valuation. whiGh is Gurrently ￿￿eduled lo bo baséd on April 2020 data and implem8nted in April 2023. 25. OperatSng leaso commltsnonts Al 31 August 2020 the Gr(￿p and the Company had commitments to make future minimum leas8 paymgnts undèr non-cancèllablè operating18ases as follows.. Group 2020 Group 2019 Company 2020 Company 2019 Not later than 1 y8ar Later than 1 y8ar and not later than 5 years 30,736 13,134 146,084 43,408 26,850 13.134 72,934 39,522 43.870 189,492 39,984 112,456 26. Related party tran8actitin$ Seven Govemors cluring the period. M Navmham. J H Miller, C Palne, J Bamwell, D Slanbridg8. R Buxlon and Dr H M Neamey ware fee paying parents. Fees paid by parent Govemors 8re al the same rates appliGablo lo all pupils. M Newnham is a partner of Birf(etts LLP. During thè yèar sèrvices wera purchased from Birketts LLP amounting lo £2,51312019.' £9,379). S Brown is a partner of Rèal Consulting {Cosl and Prol8Ct Management) LLP. Durfng the year seNices wero purchased from Real Consulting amounting lo £24.36012019.. £18,42Q)- J Barnwell 15 a Director of Bamw811 Print Ltd. During the year purthasos wsre mado from Barnw811 Pdnt Ltd amounting lo £75112019.. £nll}. During the year purchase8 made from Crown House Flowers, a business owned by M Nicholas, wife, arnounted to £28012019. £1,OS11. Page 46 LANGLEY SCHOOL119601 LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 14. Flxed assgl Investmènts {contlnued) 27. PrlnGipal subsldlarlos Tho following were Subsldiary undertakings of the Company.. Narnes Subsldlary Name Langley SGhool Developments Llmited 06639289 Wholly own 100Q/o £85,492 1£85,3921 {£1001 £482,632 {£482,6321 Company reglstralion number Bays of control Equity shareholding 0/0 Total assets as at 31 August 2020 Tol81 liabilites as 8131 August 2020 Total equity as al 31 August 2020 Turnover for the year end8d 31 August 2020 Expenditure for the year anded 31 August 2020 Result for th8 y8ar ended 31 August 2020 Subsidiary nam& Taverham Hall Enl@rpris8s Limited 03078333 Wholly owned Company regisiralion number Basis of control Equity shareholding°/. Totsl asso18 as al 31 August 2020 Total liabilities a8 3131 August 202Q Total equity as at 31 August 2020 Turnover for Ihg year Ènded 31 August 2020 Expenditure for the year ended 31 August 202D Result for the year ended 31 August 2020 £500 I£￿0) Page 47