2023-08-31-accounts

Registered number: 00656498 Charity number: 311270

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

CONTENTS

	Page
Reference and administrative details of the Company, its Trustees and advisers	1
Trustees' report	2 - 17
Independent auditors' report on the financial statements	18 - 21
Consolidated statement of financial activities	22
Consolidated balance sheet	23
Company balance sheet	24
Consolidated statement of cash flows	25
Notes to the financial statements	26 - 51

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023

Trustees	Mr D J Anderson Brown (resigned 4 January 2024)
	Mr J Barnwell
	Mr S J Brown
	Ms D H Findlay (appointed 7 May 2024)
	Mrs K Goodby (appointed 1 December 2023)
	Mr J H Miller
	Dr H N Nearney (resigned 30 June 2023)
	Mr M T Newnham
	Lt. Col. M A Nicholas MBE DL, Chairman (resigned 20 March 2023)
	Mrs C Pain, Vice Chair
	Mr D Stanbridge, Chairman
	Mr M J Streatfield
	Mr Z A Virgin
Company registered number 00656498 Charity registered number 311270 Registered office Langley Park Loddon Norfolk NR14 6BJ Independent auditors Larking Gowen Chartered Accountants Statutory Auditors 1st Floor Prospect House Rouen Road Norwich NR1 1RE Solicitors Birketts LLP Kingfisher House 1 Gilders Way Norwich NR3 1UB

Page 1

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2023

The Trustees present their annual report together with the audited financial statements of the Langley School (1960) Limited for the year 1 September 2022 to 31 August 2023. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

REFERENCE AND ADMINISTRATIVE INFORMATION

Langley School (1960) Limited is a charitable company limited by guarantee. The Charity was founded in 1960 and is registered with the Charity Commission under charity number 311270 and company registration number 00656498. Trustees and principal addresses of the Charity are listed on page 1. Particulars of the Charity’s professional advisors are also given on page 1.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governors

The Charity is governed by its memorandum and articles of association dated 14 April 1960. In the event of winding up the liability of each member is limited to £1. Details of the members of the governing body of the Charity are shown on page 1.

Organisational management

The Governors, as the trustees of the Charity, are legally responsible for managing and controlling the School. The full board of Governors meets at least once a term, receiving reports and recommendations from subcommitments, which meet with a similar frequency, to determine the general policy for the School and to review its overall management and control.

The day to day running of the school is delegated to the Headmaster, supported by the leadership and management teams and staff. The Headmaster undertakes the key leadership role in overseeing educational, and pastoral functions in consultation with the Chief Operating Officer (COO) for all administrative/operational matters. The day-to-day administration is undertaken in line with the policies and procedures approved by the Governors. The Headmaster, or his representative, attends all Governors’ and subcommittee meetings.

There are several sub committees. Each committee is chaired by a Governor.

The Education Committee is the forum for academic discussion in which Governors and staff participate equally. In addition, the Education Committee receives termly reports from the Designated Safeguarding Leads and annually reviews the School’s Safeguarding, Anti-Bullying and Behaviour Policies, along with those more specifically focused around academia. In addition, the Education Committee has its own subcommittee which focuses purely on safeguarding across the School, this enables our staff and Governors to have dedicated attention on this key area of school life.

The Resources Committee has delegated responsibility for overseeing the financial and business management of the School, scrutinising and reporting to the Board on finance, compliance and business performance. The Resources Committee also carries out regular reviews of the major risks to which the School is exposed and annually determines the school's budget. The budget incorporates capital expenditure for the year ahead in line with the school’s strategic plans. This Committee is also responsible for discussion in all matters relating to the recruitment and retention of staff, people matters and the running of the School’s estate, health and safety and digital infrastructure.

Page 2

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

The Governors gave of their time freely and no remuneration or expenses were paid in the academic year. No Governor or person connected with a Governor received any benefit from means tested bursaries.

The Headmaster’s and senior staff remuneration is set by the Board, regarding performance, external comparators and benchmarking with similar organisations.

Recruitment, induction and training of Governors

New Governors are appointed at a board meeting and confirmed at the Annual General Meeting. The Board receives suggestions from Governors, school officers, advisors and unsolicited requests. After an initial consideration of suitability, on the basis of the existing board’s known skills and needs, and confirmation of interest and eligibility, a detailed review of suitability is carried out together with an interview before recommendation is made to the board.

The Chair inducts new Governors and explains the Board’s Policies and Procedures. The School is a member of AGBIS (Association of Governing Bodies in Independent Schools) and Governors can attend relevant training and refresher courses.

The Board conducts regular audits of the skill sets represented on the Board to ensure that there is a balanced membership with an appropriate range of skills and expertise. AGBIS recommendations are followed where possible in deciding the balance, expertise and number on the governing body.

Other Relationships

The furtherance of educational standards and the quality of pastoral care at the School is sustained and improved through participation in, and subscription to, umbrella organisations such as the Society of Heads, Independent Association of Prep Schools (IAPS), Independent Schools Association and Boarding Schools Association. The School is also a member of the prestigious HMC, the Headmasters’ and Headmistresses’ Conference and the Independent Schools' Bursars Association (ISBA).

The School supports the education of children and young adults in the independent and state sector, at every opportunity. Langley School works with local charities and organisations to widen public access to the education and facilities that it provides to optimise usage. This activity is wide ranging, from hosting sporting events within the grounds of the school to invitations to performances and visiting speakers as well as providing transportation for local cluster schools, organisations and charities as often as we are able. Our pupils give back to the community with our House system supporting their nominated charities. In addition, Langley Prep School has a long-standing relationship with Harford Manor School, a school for children with complex learning difficulties.

The Icenian Society (alumni of Langley School, Taverham Hall, Beech Hill, Thorpe House and Langley Prep School) is active and working to engage with the Alumni of the School. Icenians regularly come into the Senior School to spend time with students, giving career advice/guidance and sharing their experiences. This relationship provides enormous value to our pupils and is highly valued by all.

The Langley Parents Association at the Prep School has helped a number of school departments during the last year and held events which are well attended events and they work hard to support the Prep School’s funding initiatives which are presented to them at regular meetings.

Risk management

The Governors are responsible for managing the risks Langley School faces. They regularly assess the major risks to which the school is exposed and they are satisfied that systems are in place to manage all identified risks, as far as possible. These risks are documented in a Risk Register reviewed and amended at all board meetings and internal management team meetings, as appropriate.

The Governors view the risks in terms of impact and probability.

Page 3

LANGLEY SCHOOL (1960) LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

The Governors consider the economic and political turbulence of recent years along with the affordability of fees by parents across the independent sector to be a significant risk faced by the School. Whilst the Board has confidence in its present recruitment strategy there is no room for complacency and particular attention is paid to marketing and pupil recruitment in mitigation.

Other key risks include risk to reputation due to adverse publicity, failure to meet the independent school standard regulations, risk of not managing staff (and other costs), and failure to meet the financial requirements for capital expenditure and support of means tested bursaries.

Health and Safety is always a significant area for risk management.

The School’s approach to risk management and internal control may be summarised as follows:

• the Governors have oversight of risk management within the School as a whole;

• the management of risk is a whole School responsibility;

• all parties involved in the process adopt an open and receptive approach to solving risk problems;

• Langley Leadership Team ("LLT") prepares policies for Governors’ approval and implements such policies approved by them.

Each member of the LLT is responsible for fostering good risk management practice throughout the School and particularly within their area of responsibility.

The Governors will:

• ensure the integration of risk management into the culture of the School;

• take major decisions affecting the School’s risk profile or exposure, determining what types of risk are acceptable and which are not;

• monitor the management of significant risks to reduce the likelihood of unwelcome surprises;

• satisfy itself that less significant risks are being actively managed, with the appropriate controls in place which are working effectively;

• annually review the School’s approach to risk management, considering how effectively or otherwise controls have been implemented, approve changes to this policy and review the Risk Register as at the date of that review;

• delegate to the Resources and Education Committee's the responsibility to review the School’s Risk Register each term and to provide the Governors’ response to residual risk that the Committee does not consider necessary to refer to the Full Board.

The School’s key controls include:

• detailed terms of reference for all Committees;

• formal agendas for all Committee and Board activity;

• written minutes of all Board and Committee meetings;

• established School management structure;

• clear lines of communication with parents;

• formal written policies covering all important activities;

• comprehensive management accounting and reporting;

• strong emphasis placed on recruiting and retaining staff;

• strict vetting procedures with respect to the employment of staff.

It is recognised that systems cannot provide absolute assurance that all possible risks have been identified or managed.

Page 4

LANGLEY SCHOOL (1960) LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Objectives and activities

a. Policies and objectives

The company is constituted under a Memorandum of Association dated 14 April 1960 and is a registered charity, number 311270.

In addition to its charitable objectives, the stated purpose of the school is:

• To equip our pupils with the skills and tools they need to journey into the next stages of their lives, actively demonstrating kindness, confidence (with humility), curiosity and integrity.

• To develop happy and resilient young people – adaptable to an ever-changing and demanding world.

• To provide a knowledge and skills rich curriculum with aspirational teaching to nurture enthusiastic and confident learners.

• To nurture and support each and every individual member of our community, focusing on wellbeing and positive mental health.

• To provide an exceptional co-curricular programme to broaden pupils’ experience and opportunity.

The Governors are conscious that they must comply with all aspects of charity legislation and are aware of their new duties arising from the Charities Act 2011. The Governors confirm that, in exercising their powers and duties, they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission as updated in September 2014.

Public Benefit/Charities Commission

This year the value of scholarships, grants, entrance prizes and other awards made to the school’s pupils out of unrestricted funds was £2,141,097 (2022: £1,954,451) and £nil from restricted funds (2022: £nil). Langley School’s policy in line with that of other independent schools is to make these awards on the basis of the individual’s educational potential although awards from restricted funds are, of course, subject to the conditions applied by the original donor.

The Governors believe the bursaries offered by the charity, including 100% awards, widen public access. This is in addition to the sharing of many of its facilities within the local community. During each year Langley School operates a number of schemes that benefit local state children. For example:

• Masterclasses for pupils.

• The sharing of sports facilities, for example cluster schools’ cross country, hosted at both sites.

• Hosted cluster primary cross-country championships and prep and primary athletics events.

• Invitations to School events, wherever possible.

Many local sports clubs use the school facilities at Loddon and Taverham, benefiting thousands of adults and children across the county focused on a variety of sporting disciplines. These include:

Sports Hall at Langley Prep

Aylsham St Giles CC England Netball Youth Camp Fakenham Cricket Club Great Witchingham Cricket Club Hethersett and TAS Valley Cricket Club Horsford Cricket Club Mattishall Cricket Club NCYFL Norfolk County Cricket Club

Page 5

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Objectives and activities (continued)

Norfolk Cricket Board (NCB) Norfolk Hockey Association Norfolk Seniors Norwich City Hockey Club Norwich Cricket Club Norfolk United Netball Club Old Catton Cricket Club Red Mist Cricket Rockland Cricket Club Sprowston Cricket Club Vauxhall Mallards Zumba with Becks

Swimming Pool at Langley Prep

Cringleford Scouts Dereham Canoe Club Dereham Otters Eagle Canoe Club Swim with Julie Little Bobbers Manor Adventure Mermaid Discovery Norwich Penguins OSS Leisure Rooted in Nature Taverham Guides UEA – Kayak UEA Rowing Wensum Ospreys

Astroturf at Langley Senior

Beccles Hockey Club Beccles Rugby Club Carrow Hockey Loddon Hockey Club Mavericks Netball Norwich RUFC

LSS Sports Hall

Ashby St. Mary Cricket Club Brooke Cricket Club Bungay Ladies Football Club Hales Cricket Harleston Magpies Norfolk United Netball Club Stricker Cricket and Brooke Ladies Top Croft Cricket Club Trowse Netball Club

Usage of the School’s extensive facilities by the above clubs/groups took place outside of normal school operating hours.

Page 6

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Objectives and activities (continued)

To further broaden the School’s reach and public benefit the Nelson Scholarship has been developed to offer a fully funded place to attend Langley as a day pupil in the Sixth Form each year. To give additional benefit to the recipient, local organisation, Nelson’s Spirit, works with the School to develop key leadership skills in our young people. The first recipient was assessed in line with the School’s values and began their Langley journey in September 2022.

The Anthony Arthur Coward Scholarship has also been established following the kind donation by the late Barbara Hunt in memory of her nephew, Tony Coward, an Icenian of Langley School. With a focus on socioeconomic need and high academic ability this fully funded scholarship to our Sixth Form is a wonderful addition to the School and bringing enormous benefit to children who would be unable to access the benefits of an independent education.

b. Aims and intended impact

It is the Governors’ policy for both our Prep and Senior School to attain the highest academic levels, in addition to providing a co-curricular programme which aims to develop lifelong leisure interests and help build selfconfidence and a desire to contribute to the community.

c. Objectives for the year

Langley School's main objective this year was to continue to provide the best education and care for all pupils. There continues to be a significant emphasis on our pupils' mental health, well-being and general happiness – happy children learn and flourish!

d. Strategies to achieve the year's objectives

Academic foundation

• The school continues its work to build upon a strong academic foundation, high quality classroom practice remained paramount.

• Teachers receive tailored inset with a focus on evidence based best practice on areas that yield the greatest change in pupil outcomes, such as developing pupils’ metacognitive skills.

• The Russell Group and Oxbridge pathways programme was further developed with many pupils applying for either Oxford or Cambridge Universities.

Boarding

• Boarding at the senior school continues to be a key area of Langley life, with the range of flexi, weekly and full boarding options available. Pupils/students come from all over the world, which enhances the inclusive cultural life of the school.

e. Principal activities of the year

The main activity of the Charity is providing education to children and young adults. The combined School closed the year with 773 pupils/students. Boarding numbers were 45 by July 2023.

Page 7

LANGLEY SCHOOL (1960) LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Strategic report

REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR

a. Operational performance of the School

No inspections took place at either our Prep or Senior School site during this academic year.

Senior School Academic

At A Level, our A/A was 22.9% and A-C was 72.4%. Particular highlights include ‘Pupil R’ who achieved A, A, A, ‘Pupil T’ who achieved A, A, A, A and ‘Pupil C’ who achieved A, A, B. BTEC and other level 3 qualifications: 100% Distinction in the BTEC equivalent to 1 A Level. In the BTEC Diploma, equivalent to two A Levels, 100% Distinction - Merit, including 16.7% Double-Distinction.

With regards to destinations, 67% of students were accepted at their first-choice university, including Kings College London, UCL, Nottingham and Leeds University. 100% of students who applied to university were accepted into their first or second choice university, or secured a place through clearing. 17% of the cohort are going on to start apprenticeships, including one pupil going onto a pilot apprenticeship.

The Extended Project Qualification (EPQ) continues to evolve, continuing to support students' academic profiles, delivering a fully rounded course of research and project management opportunities to a diverse and inclusive student base. Students have relished the chance to develop an aptitude for lifelong learning enabling them to prepare for the world of work and beyond.

At GCSE, 4.1% of results achieved were grade 9, 22.6% of results were grade 9-7, and 83% of results were grade 9-4, compared to 68% nationally. 81.9% of pupils achieved at least 5 grades 9-4. GCSE English at 9-4 was 96.4% and GCSE Math’s at 9-4 was 78.3%. English and Math’s combined at Level 9-4 was 77.1%.

Cohort intervention was implemented for Year 11 and U6 students following their mock results. In addition to this, departments ran lunch-time, activity and holiday sessions to support in their subjects.

Personal Development Education (PDE)

The PDE programme is taught to all year groups for two hour sessions per fortnight and continues to incorporate a spiral curriculum enabling pupils to revisit and consolidate their key learning each year on Personal, Social, Health and Economic Education (PSHEE), Relationships and Sex Education (RSE), Citizenship Education and some of the Careers.

The majority of the 2022-23 curriculum is statutory requirement as advised by the DFE. The backbone of our curriculum at Langley is RSE and includes everything from self-concept and wellbeing to relationships with others and relationships with wider communities, and therefore addresses the majority of the objectives of PSHE and Citizenship. To ensure we cover all required content well, curriculum is cross checked every year with the learning objectives on the PSHE Association’s programme of study. The Police visited in January to deliver sessions on Online Safety Awareness to Year 7, County Lines and Knife Crime to Year 8, Grooming to Year 9 and Abuse in Relationships to Year 10.

Page 8

LANGLEY SCHOOL (1960) LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Strategic report (continued)

REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR (continued)

Diversity, Equality and Inclusion

The Head of DEI has continued to contribute resources to the Social, Moral, Spiritual and Cultural themes of the Fortnight which all pupils and students explore with their tutors throughout the year, these have included Black History Month, LGBTQIA+ Month, Rights and Equality at the World Cup. The LGBTQIA+, Social Awareness, Boys Talking Group met regularly and participated in pupil led assemblies to raise awareness of pupil voice issues such as Anti-Bullying, Protected Characteristics and Neurodiversity. The second wholeschool Diversity Games took place in May. The Head of DEI has continued to participate in regular networking opportunities with other DEI Leads across the County, enabling the sharing of ideas, practical advice and good practice, as well as creating future development opportunities and links with other local schools.

b. Co-Curricular Activities

Music

It has been a very successful year in Music, with the introduction of some new events.

House Music In October was a huge success and always a great event for all pupils and students to be part of. It was wonderful to welcome Icenians to be our judges, one from each house to keep it fair! The event was filmed so that it could be sent to all parents.

A highlight of the year was being back at Norwich Cathedral for our Carol Service. It was wonderful to have the whole school and parents together to celebrate as a community, with performances from the senior school choir, chamber choir and orchestra. It was also lovely to have the prep school, Magna Voce join us.

The senior school choir went on their first choir tour. This took place over 2 days, and we visited 8 care homes. Our pupils and students were fantastic and brought so much festive joy to the residents. It was a wonderful community outreach experience, and our children gained so much from it.

Another highlight and huge success was SIX the musical. We performed 4 sellout shows and to have a live band, dominated by pupils and students was a big achievement for the department. The children learnt so much from this experience and it is something they will never forget. We also invited feeder primary schools and our prep school to a matinee performance.

In May a 19-piece marching band was formed for our annual CCF inspection parade. Pupils and students had to learn how to march and play in formation, which for many was a new challenge.

Pupils from the Prep and Senior School came together to sing as a whole school choir at the Royal Norfolk Show in June. This was a wonderful opportunity for our Pre-Prep, Prep and Senior School to join together and perform in a public arena.

At the RNS the senior school also took part in a world record attempt, lead by Norfolk County Music Service. The final event for the year was the Summer Concert. This took place outside the Alston centre. Parents and guests enjoyed performances from all senior school ensembles, along with solo’s and duets. We also welcomed pre-prep choir and Magna Voce.

Soirees continue to take place once per term, giving pupils and students the opportunity to perform to friends and family in a supportive environment in our beautiful Ballroom.

Instrumental lessons still continue to grow, with a waiting list for some instruments.

Page 9

LANGLEY SCHOOL (1960) LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Strategic report (continued)

REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR (continued)

Drama

It has been a successful return to normal for Drama this year. This is the first year for our Head of Drama where usual Drama activities have been a possibility. All have enjoyed the freedom to visit the theatre and welcome parents and our wider community into our performance spaces to showcase our children’s work. The highlight was the first soiree, where we opened the Drama studio doors for the first time since I have been at the helm, to parents and friends of our Year 11 Drama pupils.

Trips were arranged by our Drama department to Norwich Playhouse trip to see ‘Fantastically Great Women who Changed the World’, Norwich Theatre Royal trip to see ‘Magic Goes Wrong’ and 'The Curious Incident of the Dog in the Night-time', all were very well received following an extended period without access to group performances.

LAMDA continued to be a popular option for pupils with the teacher delivering quickly becoming ‘fully booked’ with students.

Sport

The sports department continued to evolve with staff changes during the course of the year. We continue to work towards a sports offer that meets the whole school strategy for a community of excellence and opportunity as well as engaging with a range of external stakeholders, both educational and otherwise. Our ethos is to promote engagement in sport and physical activity that prepares pupils to live a healthy and active lifestyle both during and beyond their time here at the school. We also aim to use sport and the character that it can build to develop good human beings.

Hockey – We welcomed Ella Picton to the role of Head of Hockey. Ella joined us from Norwich School and brings a wealth of experience both in terms of playing and coaching. Her role is a joint enterprise with Harleston Magpies Hockey Club and she is 1st Ladies Captain there, playing in the National Hockey League. The joint role continues to support our relationship with local sports providers and the provision of sport for pupils outside of school time. We continue to introduce the sport to pupils for the first time at entry in Y7 and Y9 and across the Michaelmas and Lent terms play close to 100 hockey fixtures for boys and girls across the year groups. In addition to high levels of participation, we have had teams represent the school in Tier 2 level competitions at Girls U12, U14 and U16 and Boys U14 and U16. Outside of school hockey we had 8 pupils representing the county and 1 attending regional performance centre and representing the Bury Tigers Centre in the England Hockey Single System competitions.

Rugby – We continued to build our rugby program against concerns and speculation in the media about the future of the sport. Lots of boys continue to engage in contact rugby and our Michaelmas fixture card includes over 50 fixtures with new opponents being added to ensure that we continue to provide meaningful fixtures across the year groups. We added to our U15 squad following interest from local club players which resulted in a positive national cup run and a good showing at our U15 National Festival and retaining their County 7s title. Our U14s were County Champions at 15s and runners up in the 7s. There were runner up medals for the U18s in the county plate comp and they were Plate Champions at 7s.

We sent 5 teams to Rosslyn Park 7s including girls’ teams at U14 and U16. This has provided an appetite for more girls rugby. We had 9 boys selected to Leicester Tigers U15 DPP training group and their future looks promising in the Tigers’ academy. We also had 1 player in the Tigers’ U18 Academy team who had a successful season. We continue to attract pupils from a range of rugby clubs in the area, strengthening our ties with the local community.

Page 10

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Strategic report (continued)

REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR (continued)

Netball – We were sad to lose our head of netball at the beginning of the Lent term and new starters Kim Anastasiou and Kerri Eke were excellent in terms of steadying the ship to allow the netball season to progress. We have promising year groups at Y7 and Y9 who both had successful seasons and we continued to have 2 teams at senior level. We advertised and recruited Gina Hopkinson to fill the vacant Head of Netball position for the start of the 2023-24 academic year. We will also have Emily Creed returning from maternity leave to have a strong team of staff to support the netball program going forward.

Football – the LFA continues to attract attention and recruit pupils to its program. This supports some strong performances in the county and national cup competitions with many age groups of boys and girls reaching the latter stages of competitions. Some highlights were the U16s and U13s retaining their county cups and the U15 girls going on to win a National title. Across the year we had international representation for Wales (x2), England, Antigua and Hong Kong.

Cricket – The cricket program opened to more pupils again this year with the introduction of more soft-ball fixtures and altered formats of the game. This exposure has been key for transforming players to the hard ball game. As our girls cricket program continued to grow, we were proud of one of our senior girls representing the school in the prestigious XL40 and MCC games as well and being selected to the Sunrisers regional academy Squad. We had more girls cricket fixtures than we have ever had during the past season and with 3 girls being selected to play for Norfolk. County representation on the boys’ side remained high with 10 players selected. We have some exciting young cricketers throughout the years and we are keen to see them develop in strong 1st XI players.

Athletics/Cross Country – We had some strong performances at the county cross country championships resulting in 6 pupils qualifying for the Anglian Schools and one of our Inter girls going one further and being selected for the East team to run at the English Schools Championships. During the athletics season we had over 50 pupils compete at the Track and Field Cup competition, 15 pupils taking part in the County Athletics Champs (4x 1st and 3x 2nd placed). We also had a strong showing of our younger pupils at the prestigious Bedford Regional Prep Schools Athletics.

Outreach – We continue to have a strong relationship with local organisations in terms of providing support with facilities and/or coaching. We hosted 2 primary cross-country events at the school with over 350 pupils from Y3-Y6 at each event. Our National U15 Rugby Festival continues to grow (post COVID) and we hosted 14 teams in a busy weekend of high standard rugby. We are looking to increase the number of teams attending and look for a ‘headline’ sponsor. We host a number of county schools’ tournaments in rugby, hockey and cricket and provide a welcoming environment to a number of local state and private schools. Our heads of rugby and hockey have been going out into local primary schools to grow the sports with those age groups and these have culminated with us hosting primary festival events in those sports here at school. We have also engaged with the South Norfolk Sports Games Partnership to provide facilities and sports leaders for crosscountry, girls football, inclusive sports, and multi-skills festivals. In the summer term, we have also become a host centre for GCSE PE moderation, welcoming staff and pupils from 6 schools in the county. We also have staff members working and competing in local sports clubs and organisation at a county, regional and national level in Hockey, Rugby, Football, Cricket and working as coach developers in Hockey and Rugby.

Other Notable Achievements – Outside of our focus sports, we have a number of pupils representing at a high level in equestrian, swimming, kayaking, table tennis, motorsports and shooting.

Page 11

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Strategic report (continued)

REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR (continued)

Duke Of Edinburgh

This is now well established in the school ethos. Pupils are actively engaging in the award. Since the last report 27 have completed silver, 79 have completed bronze and 10 are on the cusp of completing Gold. Expeditions have taken place in South Norfolk, the Peak district and Dartmoor as well as a gold expedition that rowed the rivers Bure and Thurne last year (Oct 23) including rowing through Storm Babette!

CCF

CCF continues to deliver excellent opportunities for the cadets. Since the last report we have attended camps at Thetford Training Area (STANTA), Beckingham training area, Yardley Chase training area, and Adventure Training at Okehampton Camp, Dartmoor. The Royal Navy cadets attended Firefighting and the Damage Repair Instructional Unit at Portsmouth. Shooting continues weekly as cadet fire the .22 rifle on the range here at Langley. Each year we hold a remembrance service at St Michael's church at Langley and attend the Royal Norfolk Armistice Day service at Mousehold Cottages. Last year we attended the Royal Norfolk Le Paradis Service at Norwich Cathedral and the St George’s Day service at the Roman Catholic Cathedral in Norwich. Last year one of our cadets was awarded the Lord-Lieutenant's Cadet and the CCF has supported her throughout the year at events she has attended.

Enrichment Activities

Enrichment activities at our Senior School are broad and varied, with all pupils/students from Year 6 to Upper Sixth participating each day, except Fridays. During this academic year, pupils have chosen activities from a wide selection which included: CCF (Combined Cadets Force), Forest School activities, orchestra, green powered go-carts, shooting, British Sign Language, robotics, creative writing, debating, photography, cooking, production rehearsals, chess, Minecraft, scholars’ programmes, academic revision classes as well as many sporting options too. The enrichment programme continues to be a very popular aspect of Langley School’s provision.

c. Achievements and Performance Langley Prep School

The academic profile of the school remains stable with a mixed ability intake including 30% of pupils with either a SEND diagnosis or on the SEND monitoring list and 39% of children identified as having High Learning Potential in a range of areas (academia, sport, music, art, drama, DT) with 25% identified as academically able. Overall, pupils continue to operate slightly above the national average. Pupil progress across English, Reading, Spelling, Maths and Science is good and monitored closely. An increasing number of senior pupils transition to the senior school at the end of Year 8. The continued focus on soft skills within the curriculum remains a feature despite the school’s decision to opt out of PSB under the former Head of Prep. This helps to prepare pupils for the next stages of their education and for life in the working environment. There is a focus on the wellbeing of pupils and staff with a committee to look at provision for all. Most of the teaching staff hold the mental health first aider awards which support the work of the school wellbeing dog. Learning outside the classroom continues to be a feature of the curriculum, which is supported by the school’s extensive grounds, and it has been extended to Key Stage 3 with the introduction of “Outdoor Leadership.” The introduction of Creative Design (Art and Design with an element of Textiles and Photography) and Computer Design and Robotics have been positively welcomed and continue to be developed.

An outstanding production of Honk took place for the senior pupils with their drama, which was enjoyed by large audiences over several evenings. These support the weekly drama lessons, LAMDA lessons and after school hobbies. The school has several different choirs for pupils. The choirs perform at events like Remembrance Service, Open Day and during school assemblies. Music is supported by an experienced team of peripatetic staff offering a wide range of musical instruments.

Page 12

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Strategic report (continued)

REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR (continued)

The School has played over 300 fixtures this year and was re-awarded the Sainsbury’s Platinum School Games Mark, which is the highest grade in this national award. It recognises our ‘sport for all’ philosophy, the high level of attainment, inclusivity and provision for sport in the School, as well as our contribution to the wider community and the leadership opportunities for pupils.

Earlier in the year, our U11 Girls enjoyed considerable success on the Hockey pitch, winning the county championships and the U11 Footballers were equally successful, winning the CFS Cup, before finishing 4th at the ISA National Finals at St George’s Park.

In the Trinity Term, the younger boys and girls were far too strong for the local opposition and they will be a force to be reckoned with for years to come. The U13 boys lost narrowly in the County cricket cup final, but the U12 boys won their final and will be playing in the national cricket competition next year.

The PTFA organised a first-class bonfire event, an impressive Christmas fair and links with the parental community are very evident with the Parents’ Forum Group who meet termly with the deputy head to discuss common themes and areas requiring greater clarification. The involvement of parents within the school enhances the community feel. Community and charity links remain strong with Year 8 pupils embarking on a number of community projects as part of their leaver’s program, house charities and a successful colour run with Taverham High Sixth form.

Achievements and Performance Langley Pre-Prep & Nursery

Throughout the Pre-Prep expectations and standards have remained consistently high. Children are regularly assessed both formally and informally to ascertain levels in all areas so that planning can be in place for individual needs. Children with specific learning difficulties are supported within the classroom under observation and guidance from the Learning Support Department. We have also introduced our own learning support and social and emotional support classroom this year with a qualified psychotherapist who works with our children in small groups with emotional needs, behaviour difficulties, learning support and gifted and talented. This has been tremendously well received by pupils, parents and staff.

Children and staff wellbeing is at the heart of everything we do. We follow the growth mindset philosophy effectively with the children from the start of their time in the Nursery and Pre-Prep, introducing them to characters who display the soft skill traits that we want them to develop and these are modelled and encouraged throughout all areas of school life. We have in place an effective support structure in the form of regular staff meetings, regular opportunities to meet with team leaders, appraisal and supervision.

In January 2022 we opened a baby room, extending our current Nursery provision so that we are able to take children from the age of 6 months to 4 years all year round therefore offering consistency of care for the children and a first class start to their Langley journey. This has been oversubscribed so we are currently in the process of expanding so that we are able to meet the demand for placed for 0 - 2 years whilst enhancing the offer for our pre-school children with a purpose built area for them to continue their educational journey.

We continue to undertake preparation and performance of our usual nativity plays for Nursery and Pre- Prep, Year 2 Play and French Breakfast, Year 1 pantomime and a carol service. This year we have added a poetry recital and the children also are involved in the Bullard House Whole school Competitions in music which the children love taking part in.

Our Pre-Prep School council has gone from strength to strength putting on cake sales and fund raising activities to fund further resources to enhance playtimes.

Page 13

LANGLEY SCHOOL (1960) LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Strategic report (continued)

FINANCIAL REVIEW AND RESULTS FOR THE YEAR

a. Financial review

The School reported a deficit for the year to 31 August 2023 of £312,687 (2022: surplus £473,099). The deficit recorded in the academic year 2022/23 is influenced by the impact of high inflation on non-payroll operating costs, particularly the significant increase in energy costs which rose by £333k during the period. In addition, the impact of rising interest rates during the period increased finance costs by £109k compared with the previous academic year. Notwithstanding the challenging economic factors, we have continued to invest in both infrastructure and the core educational offering. Income grew in the academic year with an increase in gross fees to £12.98m (2022: £12.44m). The total costs of fee discounts and bursaries during the year amounted to £2.14m (2022: £1.95m). Bursaries and scholarships were well publicised but subject to effective management in order to ensure appropriate financial awards are made to families.

b. Reserves policy

Note 24 to the financial statements shows the assets and liabilities attributable to the various funds by type and also summarises the year’s movements on each fund. At 31 August 2023 unrestricted funds amounted to £5,969,120 (2022: £6,281,807) with tangible assets amounting to £11,179,368 (2022: £11,483,140) resulting in no free reserves (2022: £Nil). In the absence of free reserves, working capital and cash flow are monitored closely. The Governors’ policy is to continue building up reserves out of operating surpluses, subject to the requirements for further capital expenditure. The School’s working capital is considered to be sufficient to meet its liabilities as they fall due.

Page 14

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

c. Going concern

Despite the challenging economic environment during the 2022/23 academic year as referred to in the Financial review above, the Governors are satisfied that excellent progress has been made towards achieving many aspects of the School’s 5-year plan. Notably the School has achieved three positive inspections from regulatory bodies and steady progress has been made with the development of pupil numbers from Pre-Prep through to the Senior School. Nursery provision is strong with numbers more than doubling in a 1-year period through expansion and development of the School’s facilities. As a result, and with energy costs falling, the School is reflecting a surplus in the current academic year.

Governors monitor closely the financial performance and sustainability of the charity. This year, more than most, the future of independent education has come under scrutiny with proposals from the Labour Party to remove tax concessions for independent schools, potentially increasing the cost of educating pupils for parents.

Although the date of an election has now been announced, there remains considerable uncertainty over the exact timing and impact of the changes proposed to business rates exemptions and the imposition of VAT on fees, should Labour secure a majority. As part of the existing close monitoring of financial performance by management and governors, the potential impact of these measures is being modelled. There are many variables and factors to consider however we remain confident that the underlying educational offering is strong. We are blessed with a supportive parent body and continue to develop strong relationships with our Alumni. The Governors are reassured that notwithstanding the almost daily media commentary on the challenges faced by the sector, that interest in the School remains strong. This is demonstrated most clearly by the lack of pupil notices received, continuing commitment from parents whose children will join for future terms as well as strong interest and acceptance of places following the most recent Open Days. We will focus on a clear line of communication with our community as and when the future becomes clearer.

Through tight control of our expenditure, our dedicated Governors and Exec Team have historically successfully navigated periods of uncertainty, most recently the COVID Pandemic, followed by the Ukrainian conflict, impacting energy costs and latterly the cost-of-living crisis. Whilst the removal of tax concessions for independent school presents a new challenge, having maintained healthy cash balances and with the supportive relationship we have developed with our bankers, we remain confident that we will navigate and find a route through any resultant changes that emerge, whilst continuing to be supportive to our community from available resources.

Lack of clarity over the exact timing and impact of potentially significant changes to the taxation of independent schools inevitably creates uncertainty. With a supportive parent body, a strong core educational offering to both current and prospective pupils, active interest from new parents creating a strong pupil pipe line alongside rigorous continuing monitoring of finances and with an open and supportive relationship with bankers, the Governors are confident that a refinancing of bank loans will be completed in the next 12 months (albeit that these are not scheduled for repayment until July 2025 and hence fall outside of the 12 month period under consideration for going concern and despite the current challenges in relation to taxation, there is no material uncertainty for the foreseeable future attaching to the assessment of the School as a going concern. We have therefore concluded that it remains appropriate for the financial statements to be prepared on a going concern basis.

Note 1.3 to the financial statements sets out the accounting policy in relation to going concern.

Page 15

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

d. Investment power and objectives

Under the memorandum and articles of association, the governors have the power to make any investment which the trustees see fit.

The large amounts of recycled investments in the year (note 18 to the financial statements) are the result of investing initially in low risk investments and gradually converting these into equity investments. This is a recognised strategy to avoid the risk of investing all funds at once, at a potentially disadvantageous time.

e. Future plans

The Board’s future plans are discussed and reviewed regularly. The key objectives are:

• to complete the strategic review and to update the School Development Plan;

• to continue to build and improve on pastoral and welfare care;

• to raise standards of achievement across all year groups;

• to continue to upgrade facilities across all areas;

• to maintain appropriate pupil/teacher ratio’s which we believe gives the necessary time for developing both academic and wider skills;

• to continue to build and encourage community access to the school’s facilities

Information on fundraising practices

Langley School does not undertake conventional charitable fundraising activities.

• Langley School does not have any third-party fundraisers acting on its behalf.

• The Charity not bound by any voluntary scheme or standard for regulating fundraising.

• The Charity has not received any complaints about its fundraising activity over the last year.

• The Charity has a complaints procedure and would review and learn from any complaints if they were received.

Engagement with employees and employment of the disabled

Employees have been consulted on issues of concern to them by means of regular consultative committee and staff meetings and have been kept informed on specific matters directly by management. The School carries out exit interviews for all staff leaving the organisation and has adopted a procedure of upward feedback for senior management and the Governors via the Resources Committee.

The School has implemented a number of detailed policies in relation to all aspects of personnel matters including:

• Equal opportunities policy

• Health & safety policy

In accordance with the School’s equal opportunities policy, the School has long-established fair employment practices in the recruitment, selection, retention and training of disabled staff. Full details of these policies are available from the School’s HR Team.

Page 16

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report including the Strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

• so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and

• that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information.

Auditors

The auditors, Larking Gowen, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Mr D Stanbridge (Chair of Trustees) Date: 29 May 2024

Page 17

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LANGLEY SCHOOL (1960) LIMITED

Opinion

We have audited the financial statements of Langley School (1960) Limited (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 August 2023 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 August 2023 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 18

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LANGLEY SCHOOL (1960) LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees' report including the Strategic report for the financial year for which the financial statements are prepared is consistent with the financial statements.

• the Trustees' report and the Strategic report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report including the Strategic report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

• the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of Trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

Page 19

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LANGLEY SCHOOL (1960) LIMITED (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Due to the field in which the Charity operates, we identified areas most likely to have a direct material impact on the financial statements as compliance with accounting standards, including Charities SORP (FRS 102) and charity law. In addition, we considered the provisions of other laws and regulations which, whilst not having a direct impact on the financial statements, are fundamental to the Charity's ability to operate, including safeguarding requirements, health and safety, employment law, data protection and compliance with various other regulations relevant to the conduct of the Charity's operations.

Our approach to identifying and assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, included the following:

• Enquiries with management and the Trustees about any known or suspected instances of non-compliance with laws and regulations, accidents in the workplace, safeguarding breaches, data breaches, potential litigation or claims and fraud;

• Reviewing legal and professional fees to confirm matters where the Charity engaged lawyers during the year;

• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

• Reviewing board and finance committee meeting minutes and any relevant correspondence with external authorities, including regulators;

• Challenging assumptions and judgements made by management in their significant accounting estimates;

• · Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness and evaluating the business rationale of any significant transactions outside the normal course of business.

Page 20

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LANGLEY SCHOOL (1960) LIMITED (CONTINUED)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Julie Grimmer FCA DChA (Senior statutory auditor)

for and on behalf of Larking Gowen Chartered Accountants Statutory Auditors 1st Floor Prospect House Rouen Road Norwich NR1 1RE

30 May 2024

Page 21

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023

Note Income from: Donations and legacies 4 Charitable activities Other trading activities 5 Investments 6 Other income 7 Total income Expenditure on: Raising funds 8,9 Charitable activities 10 Other expenditure 11 Total expenditure Net movement in funds before other recognised gains Other recognised gains: Gains on revaluation of fixed assets Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2023 £ - 11,114,902 567,744 4,944 1,102,688 12,790,278 575,650 12,527,234 618 13,103,502 (313,224) 537 (312,687) 6,281,807 (312,687) 5,969,120	Total funds 2023 £ - 11,114,902 567,744 4,944 1,102,688 12,790,278 575,650 12,527,234 618 13,103,502 (313,224) 537 (312,687) 6,281,807 (312,687) 5,969,120	Total funds 2022 £ 413,654 10,776,514 466,508 - 882,075
			12,538,751
			554,796 11,301,079 209,777
			12,065,652
			473,099 -
			473,099
			5,808,708 473,099
			6,281,807

The Consolidated statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 26 to 51 form part of these financial statements.

Page 22

LANGLEY SCHOOL (1960) LIMITED (A company limited by guarantee) REGISTERED NUMBER: 00656498

CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 2023

Note Fixed assets Intangible assets 16 Tangible assets 17 Investments 18 Current assets Stocks 19 Debtors 20 Cash at bank and in hand Creditors: amounts falling due within one year 21 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 22 Total net assets Charity funds Unrestricted funds 23 Total funds	43,990 3,760,974 1,880,269 5,685,233 (5,643,243)	2023 £ 22,157 10,740,951 416,260 11,179,368 41,990 11,221,358 (5,252,238) 5,969,120 5,969,120 5,969,120	47,356 3,570,219 1,923,489 5,541,064 (5,218,186)	2022 £ - 11,069,436 413,704 11,483,140 322,878 11,806,018 (5,524,211) 6,281,807 6,281,807 6,281,807

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mr D Stanbridge Mr M J Streatfield (Chair of Trustees) (Trustee) Date: 29 May 2024

The notes on pages 26 to 51 form part of these financial statements.

Page 23

LANGLEY SCHOOL (1960) LIMITED (A company limited by guarantee) REGISTERED NUMBER: 00656498

COMPANY STATEMENT OF FINANCIAL POSITION AS AT 31 AUGUST 2023

Note Fixed assets Intangible assets 16 Tangible assets 17 Investments 18 Current assets Stocks 19 Debtors 20 Cash at bank and in hand Creditors: amounts falling due within one year 21 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 22 Total net assets Charity funds Unrestricted funds 23 Total funds	39,311 3,772,757 1,873,546 5,685,614 (5,602,530)	2023 £ 22,157 10,701,941 416,360 11,140,458 83,084 11,223,542 (5,252,238) 5,971,304 5,971,304 5,971,304	46,206 3,569,338 1,901,743 5,517,287 (5,180,184)	2022 £ - 11,057,295 413,804 11,471,099 337,103 11,808,202 (5,524,211) 6,283,991 6,283,991 6,283,991

The Company's net movement in funds for the year was £ (312,687) (2022 - £473,099) .

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mr D Stanbridge (Chair of Trustees) Date: 29 May 2024

Mr M J Streatfield (Trustee)

The notes on pages 26 to 51 form part of these financial statements.

Page 24

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023

Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Proceeds from the sale of tangible fixed assets Purchase of intangible assets Purchase of tangible fixed assets Purchase of listed investments Sale of listed investments Interest received Net cash used in investing activities Cash flows from financing activities Repayments of borrowing New finance leases Repayments of finance leases Interest paid Net cash (used in)/provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 26 to 51 form part of these financial statements	2023 £ 824,385 - (22,790) (259,786) (743,591) 335,031 49,433 (641,703) (173,297) - (150,730) (308,416) (632,443) (449,761) 2,337,143 1,887,382	2022 £ 1,247,312 3,000 - (965,825) - - 565 (962,260) (160,420) 574,972 (158,046) (199,465) 57,041 342,093 1,995,050 2,337,143

Page 25

LANGLEY SCHOOL (1960) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Langley School (1960) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements.

The financial statements are presented in Sterling (£), which is the functional currency of the company, and rounded to the nearest £.

1.2 Company status

The company is a company limited by guarantee. The members of the company are the Governors named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

Page 26

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1. Accounting policies (continued)

1.3 Going concern

As set out more fully in the Trustees report, the Governors have considered the projected income and expenditure together with funds held for a period of 12 months from the date of approving these financial statements.

Taking into account cash balances, forecast income and expenditure, the Governors consider that existing agreed banking facilities are sufficient for the School and subsidiary company to be able to meet liabilities as they fall due. In preparing the relevant forecasts for the 12 months following the date of approval of these financial statements, the potential cost of the loss of business rates exemption has been taken into account in preparing the forecasts. The impact of VAT on fee income, net of recoverable input VAT (assuming this is introduced by a Labour Government) is less straight forward to forecast. Now that the date of the election is known, the financial forecasts of the School have been updated and various models using a range of assumptions prepared. Given the strength of the core educational offering, and level of financial monitoring and control over expenditure, the Governors are confident that the impact of potential VAT changes can be managed. Financial performance and sustainability of the charity are subject to continuing rigorous scrutiny. As part of the consideration of the going concern basis and the continuing review of the School’s financial performance, the Governors have also considered the bank loan (see notes 21 & 22). Bank loans are subject to various covenant tests. The Governors are confident that despite the challenges faced by the sector that funds can be managed to avoid any breaches of banking covenants. Whilst the School’s bank loans are not due for repayment until July 2025, which is beyond the 12 month period covered by the detailed forecasting and going concern assessment, with the strong relationship established with the School’s bankers, Governors are expecting to renegotiate facilities in the next 12 months.

For these reasons, whilst recognising the challenging environment faced by the whole independent school’s sector, the Governors consider there is no material uncertainty attaching to the assessment of the going concern basis and it is appropriate for the financial statements to continue being prepared on a going concern basis.

Page 27

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1. Accounting policies (continued)

1.4 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured.

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Governors' report for more information about their contribution.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Company which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

Page 28

LANGLEY SCHOOL (1960) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1. Accounting policies (continued)

1.6 Basis of consolidation

The financial statements consolidate the accounts of Langley School (1960) Limited and all of its subsidiary undertakings ('subsidiaries').

The company has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own Income and expenditure account.

1.7 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Consolidated statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Consolidated statement of financial activities as the related expenditure is incurred.

1.8 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

1.9 Taxation

The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.10 Intangible assets and amortisation

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life, which must be reviewed at each reporting date. If a reliable estimate of the useful life cannot be made, it is presumed to be no more than five years.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Page 29

LANGLEY SCHOOL (1960) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1. Accounting policies (continued)

1.10 Intangible assets and amortisation (continued)

Amortisation is provided on the following basis:

Video materials

• % 20% Straight line

1.11 Tangible fixed assets and depreciation

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

• Freehold property 2% Straight line - Plant and machinery 25% Straight line - Fixtures and fittings 20% & 25% Straight line

1.12 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

1.13 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

1.14 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.15 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 30

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1. Accounting policies (continued)

1.16 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost.

1.17 Financial instruments

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.18 Operating leases

Rentals paid under operating leases are charged to the Consolidated statement of financial activities on a straight line basis over the lease term.

1.19 Pensions

The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.

The school contributes to the Teachers' Pension Scheme, a contributory scheme administered by Teachers’ Pensions on behalf of the Department for Education. Contributions are made at rates set by the Government's actuary and advised to the school by the scheme administrator. The school also contributes to personal pension schemes for other non-teaching staff. Contributions to the pension scheme are charged to the company's income and expenditure account when payable

1.20 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 31

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

2. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Critical areas of judgment:

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 17 for the carrying amount of the tangible fixed assets and note 1.11 for the depreciation rates applied for each class of assets

Impairment of fee debtors

The company makes an estimate of the recoverable value of trade.debtors and other debtors. When assessing impairment of trade or other debtors, factors are considered including the current financial position of the debtor, the ageing profile of the debtors and historical experience. See note 20 for the net carrying amount of the debtors.

3. Income from charitable activities

Gross Fees Less: bursaries and discounts Registration and other tuition fees	2023 £ 12,977,814 (2,141,097) 10,836,717 278,185 11,114,902	2022 £ 12,445,887 (1,954,451) 10,491,436 242,200 10,733,636

Page 32

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

4. Income from donations and legacies

	Unrestricted	Total	Total
	funds	funds	funds
	2023	2023	2022
	£	£	£
Legacies	-	-	413,654

In the prior year, we were privileged to be left a substantial bequest by a donor. Barbara Hunt bequeathed a £413,654 legacy in memory of her nephew, Anthony Arthur Coward (Pupil 1967/1974) who tragically died in a car accident shortly after leaving the School. This money has been designated, in line with the family's wishes, to provide fully-funded scholarship places into our Sixth Form, covering all fees and costs. This scholarship celebrates outstanding academic potential, with the criteria for this award based on both academic ability and socio-economic need. Our first Scholarship recipients will join the School in September 2023 and we are looking forward to celebrating their achievements.

5. Charity trading income

Income from non charitable trading activities

Unrestricted funds 2023 £ School transport 567,744 Investment income Unrestricted funds 2023 £ Income from listed investments 4,944	Total funds 2023 £ 567,744 Total funds 2023 £ 4,944	Total funds 2022 £ 466,508
		Total funds 2022 £ -

6. Investment income

Page 33

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

7. Other incoming resources

Unrestricted funds 2023 £ Bank interest receivable 49,433 Lettings and catering 1,053,255 Total 2023 1,102,688	Total funds 2023 £ 49,433 1,053,255 1,102,688	Total funds 2022 £ 5,337 876,738
		882,075

8. Expenditure on raising funds Fundraising trading expenses

Unrestricted funds 2023 £ Direct costs 321,468 Staff costs 251,257 Total 2023 572,725	Total funds 2023 £ 321,468 251,257 572,725	Total funds 2022 £ 300,783 254,013
		554,796

9. Investment management costs

	Unrestricted	Total	Total
	funds	funds	funds
	2023	2023	2022
	£	£	£
Investment management costs	2,925	2,925	-

Page 34

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

10. Analysis of expenditure on charitable activities

Summary by fund type

Charitable activities Summary by expenditure type Charitable activities Charitable activities Other expenditure Swimming pool refurbishment	Unrestricted funds 2023 Total 2023 £ £ 12,527,234 12,527,234 Staff costs 2023 Depreciatio n 2023 Other costs 2023 £ £ £ 8,565,309 576,874 3,385,051 Staff costs 2022 Depreciation 2022 Other costs 2022 £ £ £ 8,237,221 481,554 2,582,304 Unrestricted funds 2023 Total funds 2023 £ £ 618 618	Total 2022 £ 11,301,079 Total 2023 £ 12,527,234 Total 2022 £ 11,301,079 Total funds 2022 £ 209,777

11. Other expenditure

Page 35

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

12. Analysis of expenditure by activities

	Activities
	undertaken	Total	Total
	directly	funds	funds
	2023	2023	2022
	£	£	£
Direct costs	12,527,234	12,527,234	11,301,079

Analysis of direct costs

Wages (incl NI & Pension) Depreciation Property costs Catering IT and communications Insurance Marketing Professional fees Finance costs Loan interest Sundry (Profit)/Loss on disposal of fixed assets Other educational costs Total 2023 13. Auditors' remuneration For the audit of the Company's annual accounts For all non-audit services not included above	Activities 2023 £ 8,565,309 576,874 1,406,280 383,263 227,920 142,871 159,463 162,111 3,944 308,416 80,801 - 509,982 12,527,234	Total funds 2023 £ 8,565,309 576,874 1,406,280 383,263 227,920 142,871 159,463 162,111 3,944 308,416 80,801 - 509,982 12,527,234 2023 £ 42,000 3,400	Total funds 2022 £ 8,237,221 481,554 904,776 338,476 233,288 130,601 111,942 114,512 3,859 199,465 79,943 19,784 445,658
			11,301,079
			2022 £ 40,000 3,250

Page 36

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

14. Staff costs

Wages and salaries Social security costs Contribution to defined contribution pension schemes	Group 2023 £ 7,286,746 593,649 936,171 8,816,566	Group 2022 £ 6,980,220 584,811 926,203 8,491,234	Company 2023 £ 7,035,489 593,649 936,171 8,565,309	Company 2022 £ 6,726,207 584,811 926,203
				8,237,221

The average number of persons employed by the Company during the year was as follows:

Group	Group
2023	2022
No.	No.
268	260

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

	Group	Group
	2023	2022
	No.	No.
In the band £60,001 - £70,000	2	2
In the band £70,001 - £80,000	2	1
In the band £90,001 - £100,000	-	1
In the band £140,001 - £150,000	1	1

Page 37

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

Staff costs (continued)

Employers' pension contributions in respect of the employees whose employee benefits (excluding employer pension costs) exceeded £60,000 were:

	Group	Group
	2023	2022
	£	£
In the band £60,001 - £70,000	14,797	29,152
In the band £70,001 - £80,000	24,831	8,000
In the band £90,001 - £100,000	-	24,704
In the band £140,001 - £150,000	35,190	34,500

Key management is considered to be the trustees (who are not remunerated), the two headteachers and the School's senior leadership team. They received remuneration (including employers' NIC and pension) of £1,427,261 (2022: £1,142,602).

Staff costs include £38,308 (2022: £88,971) in respect of redundancy and termination payments.

15. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration, expenses or other benefits (2022 - £NIL) .

Page 38

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
16. Intangible assets Group and Company Cost Additions At 31 August 2023 Amortisation Charge for the year At 31 August 2023 Net book value At 31 August 2023 At 31 August 2022	Video materials £ 22,790 22,790 633 633 22,157 -

Page 39

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

17. Tangible fixed assets

Group

Cost or valuation At 1 September 2022 Additions At 31 August 2023 Depreciation At 1 September 2022 Charge for the year At 31 August 2023 Net book value At 31 August 2023 At 31 August 2022	Freehold property £ 13,090,303 23,400 13,113,703 3,040,513 273,375 3,313,888 9,799,815 10,049,790	Plant and machinery £ 442,372 17,042 459,414 261,484 11,704 273,188 186,226 180,888	Fixtures and fittings £ 4,411,932 219,344 4,631,276 3,573,174 303,192 3,876,366 754,910 838,758	Total £ 17,944,607 259,786
				18,204,393
				6,875,171 588,271
				7,463,442
				10,740,951
				11,069,436

Page 40

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

17. Tangible fixed assets (continued)

Company

Cost or valuation At 1 September 2022 Additions At 31 August 2023 Depreciation At 1 September 2022 Charge for the year At 31 August 2023 Net book value At 31 August 2023 At 31 August 2022	Freehold property £ 13,090,303 - 13,090,303 3,040,513 272,595 3,313,108 9,777,195 10,049,790	Plant and machinery £ 411,171 1,542 412,713 242,424 453 242,877 169,836 168,747	Fixtures and fittings £ 4,411,932 219,344 4,631,276 3,573,174 303,192 3,876,366 754,910 838,758	Total £ 17,913,406 220,886
				18,134,292
				6,856,111 576,240
				7,432,351
				10,701,941
				11,057,295

The total net book value of the Group and Company's assets held under finance lease and hire purchase was £403,298 (2022: £537,006).

Page 41

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

18. Fixed asset investments

Group Cost or valuation At 1 September 2022 Additions Disposals Revaluations Net income from listed investments At 31 August 2023 Net book value At 31 August 2023 At 31 August 2022 Investments in subsidiary companies Company £ Cost or valuation At 1 September 2022 100 Additions - Disposals - Revaluations - Net income from listed investments - At 31 August 2023 100 Net book value At 31 August 2023 100 At 31 August 2022 100	Investments in subsidiary companies £ 50 - - - - 50 50 50 Unlisted investments £ 50 - - - - 50 50 50	Cash held by investment manager £ 413,654 (743,591) 335,031 - 2,019 7,113 7,113 413,654 Cash held by investment manager £ 413,654 (743,591) 335,031 - 2,019 7,113 7,113 413,654	Listed investments £ - 743,591 (335,031) 537 - 409,097 409,097 - Listed investments £ - 743,591 (335,031) 537 - 409,097 409,097 -	Total £ 413,704 - - 537 2,019
				416,260
				416,260
				413,704
				Total £ 413,804 - - 537 2,019
				416,360
				416,360
				413,804

Page 42

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

19. Stocks

Consumables 20. Debtors Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income	Group 2023 £ 43,990 Group 2023 £ 3,277,294 - 133,931 349,749 3,760,974	Group 2022 £ 47,356 Group 2022 £ 3,183,065 - 102,842 284,312 3,570,219	Company 2023 £ 39,311 Company 2023 £ 3,271,235 48,732 118,597 334,193 3,772,757	Company 2022 £ 46,206
				Company 2022 £ 3,180,843 33,318 92,413 262,764
				3,569,338

Autumn term fees are included within trade debtors.

Page 43

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

21. Creditors: Amounts falling due within one year

Bank loans Trade creditors Other taxation and social security Obligations under finance lease and hire purchase contracts Other creditors Accruals and deferred income	Group 2023 £ 161,632 250,577 158,909 157,653 318,836 4,595,636 5,643,243	Group 2022 £ 149,756 340,471 164,811 150,730 422,246 3,990,172 5,218,186	Company 2023 £ 161,632 242,651 156,564 157,653 309,513 4,574,517 5,602,530	Company 2022 £ 149,756 326,886 163,230 150,730 411,063 3,978,519
				5,180,184

Deferred Income

The table below includes both amounts due within one year (Note 21) and after more than one year (Note 22):

Deferred income at 1 September 2022 Resources deferred during the year Amounts released from previous periods	Group 2023 £ 4,084,948 4,311,816 (4,084,948) 4,311,816	Group 2022 £ 3,940,392 4,084,948 (3,940,392) 4,084,948	Company 2023 £ 4,084,948 4,311,816 (4,084,948) 4,311,816	Company 2022 £ 3,940,392 4,084,948 (3,940,392)
				4,084,948

Deferred income includes autumn term fees invoiced in advance of the year end.

Page 44

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

22. Creditors: Amounts falling due after more than one year

Group 2023 £ Bank loans 4,482,766 Net obligations under finance lease and hire purchase contracts 246,446 Accruals and deferred income 523,026 5,252,238 Included within the above are amounts falling due as follows: Group 2023 £ Between one and two years Bank loans 174,707 Between two and five years Bank loans 4,308,059		Group 2022 £ 4,667,939 404,099 452,173 5,524,211 Group 2022 £ 155,313 4,512,626	Company 2023 £ 4,482,766 246,446 523,026 5,252,238 Company 2023 £ 174,707 4,308,059	Company 2022 £ 4,667,939 404,099 452,173
				5,524,211
				Company 2022 £ 155,313 4,512,626

The loan is secured by a legal charge over land and buildings at Langley Senior School, Langley Park, Loddon and land and buildings at Langley Pre-Prep and Prep School at Taverham Park, Taverham.

The bank loan is provided up to £5m, all of which had been drawn down at 31 August 2023. The first instalment was paid in August 2021. Interest is on the Company's bank loan at a rate of 2.25% above the base rate with the loan repayable in the year ending 31 August 2025.

Page 45

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

23. Statement of funds

Statement of funds - current year

Balance at 1 September 2022 £ Unrestricted funds Designated funds Anthony Arthur Coward Scholarship Fund 413,654 General funds Revenue reserve 5,868,153 Total Unrestricted funds 6,281,807	Income £ Expenditure £ 4,944 (2,925) 12,785,334 (13,100,577) 12,790,278 (13,103,502)	Gains/ (Losses) £ 537 - 537	Balance at 31 August 2023 £ 416,210
			5,552,910
			5,969,120

In the prior year, we were privileged to be left a substantial bequest by a donor. Barbara Hunt bequeathed a £413,654 legacy in memory of her nephew, Anthony Arthur Coward (Pupil 1967/1974) who tragically died in a car accident shortly after leaving the School. This money has been designated, in line with the family's wishes, to provide fully-funded scholarship places into our Sixth Form, covering all fees and costs. This scholarship celebrates outstanding academic potential, with the criteria for this award based on both academic ability and socio-economic need. Our first Scholarship recipients will join the School in September 2023 and we are looking forward to celebrating their achievements.

Page 46

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

23. Statement of funds (continued) Statement of funds - prior year Balance at 1 September 2021 £ Unrestricted funds Designated funds Anthony Arthur Coward Scholarship Fund - General funds Revenue reserve 5,808,708 Total Unrestricted funds 5,808,708	Income £ - 12,538,751 12,538,751	Expenditure £ - (12,065,652) (12,065,652)	Transfers in/out £ 413,654 (413,654) -	Balance at 31 August 2022 £ 413,654
				5,868,153
				6,281,807

24. Analysis of net assets between funds Analysis of net assets between funds - current year

Unrestricted funds 2023 £ Tangible fixed assets 10,740,951 Intangible fixed assets 22,157 Fixed asset investments 416,260 Current assets 5,685,233 Creditors due within one year (5,643,243) Creditors due in more than one year (5,252,238) Total 5,969,120	Total funds 2023 £ 10,740,951 22,157 416,260 5,685,233 (5,643,243) (5,252,238)
	5,969,120

Page 47

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

24. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year Total	Unrestricted funds 2022 £ 11,069,436 413,704 5,541,064 (5,218,186) (5,524,211) 6,281,807	Total funds 2022 £ 11,069,436 413,704 5,541,064 (5,218,186) (5,524,211) 6,281,807

25. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Amortisation charges Interest received Interest paid Decrease/(increase) in stocks (Increase) in debtors Increase in creditors Loss on the sale of fixed assets Net cash provided by operating activities	Group 2023 £ (313,224) 588,271 633 (49,433) 308,416 3,366 (190,755) 477,111 - 824,385	Group 2022 £ 473,099 506,833 - (565) 199,465 (7,353) (295,308) 351,357 19,784 1,247,312

Page 48

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

26. Analysis of cash and cash equivalents

Cash in hand Cash held by investment manager Total cash and cash equivalents	Group 2023 £ 1,880,269 7,113 1,887,382	Group 2022 £ 1,923,489 413,654
		2,337,143

27. Analysis of changes in net debt

Cash at bank and in hand Debt due within 1 year Debt due after 1 year Finance leases	At 1 September 2022 £ 1,923,489 (149,756) (4,667,939) (554,829) (3,449,035)	Cash flows £ (43,220) 173,297 - 150,730 280,807	Other non- cash changes £ - (185,173) 185,173 - -	At 31 August 2023 £ 1,880,269 (161,632) (4,482,766) (404,099)
				(3,168,228)

Page 49

LANGLEY SCHOOL (1960) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

28. Pension commitments

Defined contribution pension scheme

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £374,654 (2022 - £140,310). At the balance sheet date, contributions totalling £91 (2022: £36,581) were payable to the fund at the balance sheet date and are included in creditors.

Teachers' Pension Scheme

Introduction

The School participates in the Teachers' Pension Scheme ("the TPS") for its teaching staff. The TPS is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. Membership is automatic for teachers All teachers have the option to opt-out of the TPS following enrolment.

The TPS is an unfunded scheme to which both the member and employer make contributions, as a percentage of salary - these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

Valuation of the Teachers’ Pension Scheme

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors.

The latest valuation of the Teachers’ Pension Scheme was carried out as at 31 March 2020. The valuation was published by the Department for Education on 26 October 2023. The key elements of the valuation and subsequent consultation are:

• employer contribution rates currently set at 23.68% of pensionable pay (including a 0.08% administration levy) will increase by 5% on 1 April 2024.

• total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £262,000 million and notional assets (estimated future contributions together with the notional investments held at the valuation date) of £222,200 million, giving a notional past service deficit of £39,800 million.

The valuation result is due to be implemented from 1 April 2024.

Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The School has accounted for its contributions to the scheme as if it were a defined contribution scheme.

The employer’s pension costs paid to TPS in the period amounted to £561,517 (2022: £785,893). Contributions totalling £70,864 (2022: £70,969) were payable at the year end and are included in creditors.

A copy of the valuation report and supporting documentation is on the Teachers' Pensions website https://www.teacherspensions.co.uk/news/employers/2023/10/valuation-result

Page 50

(A company limited by guarantee)

LANGLEY SCHOOL (1960) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

29. Operating lease commitments

At 31 August 2023 the Group and the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year Later than 1 year and not later than 5 years	Group 2023 £ 243,708 163,287 406,995	Group 2022 £ 333,838 453,265 787,103	Company 2023 £ 182,936 163,287 346,223	Company 2022 £ 185,651 392,493
				578,144

30. Related party transactions

Governors during the period, M Newnham, J H Miller, K Goodby, D Stanbridge and Dr H M Nearney were fee paying parents. Two directors of the subsidiary company, R Buxton and P Cargill, were also fee paying parents during the period. Fees paid by parent Governors are at the same rates applicable to all pupils.

M Newnham is a partner of Birketts LLP. During the year services were purchased from Birketts LLP amounting to £405 (2022: £2,888).

J Barnwell is a Director of Barnwell Print Ltd. During the year purchases were made from Barnwell Print Ltd amounting to £Nil (2022: £1,350).

During the year costs totalling £7,172 (2022: £Nil) were incurred from Wymondham RFC Trading Limited in respect of hire of pitches and advertising boards.

31. Principal subsidiaries

The following was a subsidiary undertaking of the Company:

Subsidiary Name	Langley School Development Limited
Company registration number	06639289
Basis of control	Wholly owned
Equity shareholding %	100%
Total assets as at 31 August 2023	£87,361
Total liabilities as at 31 August 2023	(£87,261)
Total equity as at 31 August 2023	£100
Turnover for the year ended 31 August 2023	£572,725
Expenditure for the year ended 31 August 2023	(£572,725)

Page 51