2020-05-31-accounts - Westonbirt Schools Limited

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Company Secretary	Company Secretary	Michael Beauchamp	Mansel Porter BA MSc	Mansel Porter BA MSc
Registered	Office	Stable Cottage
		Eckington Road
		Birlingham
		Pershore
		Worcestershire
		WR10 3DA
Principal Office		Stable Cottage
		Eckington Road
		Birlingham
		Pershore
		Worcestershire
		WR10 3DA
Solicitors		Charles Russell Speechlys		LLP
		Compass House
		Lypiatt Rd
		Cheltenham
		GL50 2QJ
Independent	Auditors	Saffery Champness	LLP
		71Queen Victoria Street
		London
		EC4V 4BE
Bankers		Barclays Bank Pic
		Wytham Court
		11West Way
		Oxford
		OX2 OJB
Investment	Managers	Brewin Dolphin
		The Paragon Building
		32 Counterslip
		Bristol
		BS16BX

								Total	Total
								Year	Year
					Notes	Unrestricted	Restricted	31May	31May
						2020	2020	2020	2019
						f	f	f
Income from:
Investments
Rents receivable						144,327		144,327	144,327
Investment income							4,417	4,417	5,198
Donations									40,690
Total income						144,327	4,417	148,744	190,216
Expenditure on:
Raising funds
Finance costs						1,547	2,008	3,555	4,683
Charitable activities
Provision ofeducation						28,128	6,000	34,128	99,516
Total expenditure						29,675	8,008	37,683	104,199
Net (losses)/gains		on	investments				(9,470)	(9,470)	(7,997)
Net income/(expenditure)						114,652	(13,061)	101,591	78,020
Other recognised		gains/(losses)
Actuarial losses on defined
benefit pension	scheme					(262)		(262)	(1,000)
Net Movement	in	Funds				114,390	(13,061)	101,329	77,020
Fund balance brought			forward	at
1June 2019						2,942,289	186,328	3,128,617	3,051,597
Fund balance carried			forward	at		3,056,679	173,267	3,229,946	3,128,617
31May 2020

					Continuing	Discontinued	Total	Continuing	Discontinued	Total
					operations	operations	year ended	operations	operations	9months
							31May			31Ivlay
					2020	2020	2020	2019	2019	2019
Income from:
Investments
Rents receivable					144,327		144,327	144,327		144,327
Investment		income			4,417		4,417	5,198		5,198
Grants and		donations						40,690		40,690
Total					148,744		148,744	190,216		190,216
Expenditure		on:
Raising funds					3,555		3,555	4,683		4,683
Charitable	activities				34,128		34,128	23,575	75,941	99,516
Total					37,683		37,683	28,258	75,941	104,199
Net gains/(losses)			on		(9,470)		(9,470)	(7,997)		(7,997)
investments
Actuarial	gains/(losses)			on	(262)
defined	benefit		pension					(1,000)		(1,000)
scheme
Net income/		(expenditure)			101,329		101,329	152,961	(75,941)	77,020

				Notes	2020	2019
					f	f
Tangible Fixed Assets					3,900,000	3,900,000
investments
Other Investments					173,524	186,328
					173,524	186,328
Current Assets
Debtors					1,798	1,456
Cash at bank	and in	hand			7,439	11,267
					9,237	12,723
Creditors: amounts		falling	due within one year		(127,000)	(137,943)
Net Current	Liabilities				(117,763)	(125,220)
Total Assets	less Current		Liabilities		3,955,761	3,961,108
Creditors: amounts		falling	due after more than one year		(611,355)	(696,986)
Provisions				12	(114,460)	(135,505)
Net Assets					3,229,946	3,128,617
Funds				10
Restricted funds					173,267	186,328
Unrestricted	funds:				3,056,679	2,942,289
Total funds					3,229,946	3,128,617

Current year					31May
			Unrestricted	Restricted funds	2020
			funds		Total
			f	f	f
Raising funds
Finance costs			1,547	2,008	3,555
			1,547	2,008	3,555
Charitable activities
Bursary awards				6,000	6,000
Support costs			18,088		18,088
Governance costs			10,040		10,040
			28,128	6,000	34,128
Total expenditure			29,675	8,008	37,683
Comparative year					31May
			Unrestricted	Restricted funds	2019
			funds		Total
			f	f	f
Raising funds
Finance costs			2,551	2,132	4,683
			2,551	2.132	4,683
Charitable activities
Bursary awards				9,000	9,000
Support costs			72,676		72,676
Governance costs			17,840		17,840
			90,516	9,000	99,516
Total expenditure			93,067	11132	104,199
Expenditure	includes:
				31May	31May
				2020	2019
				f	f
Auditors'	remuneration	(excluding	VAT) for:
Audit services
Current year				5,500	6,250
Prior	year				2,000
Other services				700	22,027

Staff Costs
						31May	31May
						2020	2019
						f	f
Total staff costs comprised:
Wages and salaries						496	83
Social security costs
Pensions contributions
Interest expense	on	defined		benefit pension scheme		1,652	3,000
Net credit/ expense		in	relation		to changes to estimated		(16,000)
Pensions Trust	pension		liability		(see note 12 for further
details)
						2,148	(12,917)
The average numbers	of	employees			in the period were:	2020	2019
						Number	Number
Management R administration						1	1

						31May	31May
						2020	2019
						f	f
Aggregate	employment	benefits	of	key	management	496	83
personnel

	Freehold	Total
	property
Cost
At 1June 2019and 31May 2020	5,823,282	5,823,282
Depreciation
At 1June 2019and 31May 2020	1,923,282	1,923,282
Net Book Value
At 1June 2019and 31May 2020	3,900,000	3,900,000

Investments
			2020	2019
			f	f
Balance brought	forward		186,328	246,265
Proceeds from	disposals		(139,147)	(74,768)
Purchases			131,175	66,540
Net (losses)/ gains			(9,470)	(7,997)
Movement on investment		cash	4,638	(43,712)
Balance carried	forward		173,524	186,328

	Investments	Investments	are made	are made	up as follows:
						2020	2019
						E
	UK Equities					75,107	75,107
	UK Bonds					55,524	40,718
	Overseas	Bonds and		Equities		30,793	53,429
	Property	and	other			5,332	14,584
	Cash					6,768	2,490
						173,524	186,328
	Debtors
						2020	2019
						f
	Prepayments		and accrued income			1,798	1,456
						1,798	1,456
7	Creditors:	Amounts		falling due within one year
						2020	2019
						f	f
	Accruals	and	deferred		income	127,000	137,943
						127,000	137,943
8	Creditors:	Amounts		falling due after more than one year
						2020	2019
						f
	Deferred	rental income (note 9)				601,219	684,146
	Accruals					10,136	12,840
						611,355	696,986

									2020	2019
									f	f
At 1June 2019								767,073		850,000
Released to income				in the year				(82,927)		(82,927)
At 31	May 2020							684,146		767,073
The deferred		income is expected to be				recognised	as	follows:
									2020	2019
									f	f
Within	1year								82,927	82,927
Within	1to 2	years							82,927	82,927
Within	2to 5	years						248,781		248,781
After	more than		five	years				269,511		352,438
								684,146		767,073
Funds
Current	year		Brought		Income	Expenditure		Gains/	Transfers	Balance carried
		forward		at 1				(losses)		forward at 31
			June	2019						May 2020
				E						E
Unrestricted
funds
General			3,077,794		144,327	(31,327)			(19,655)	3,171,139
funds
Pension	fund		(135,505)			(1,652)		(262)	19,655	(114,460)
reserve
			2,942,289		144,327	(29,675)		(262)		3,056,679
Restricted
funds
SBP			186,328		4,417	(8,008)		(9,470)		173,267
			186,328		4,417	(8,008)		(9,470)		173,267
Total			3,128,617		148,744	(37,683)		(9,732)		3,229,946

Comparative	Brought	Brought	Income	Expenditure	Gains/	Transfers	Balance carried	Balance carried
year	forward at 1				(losses)		forward at	31
	June	2019					May 2020
		E						E
Unrestricted
funds
General	2,988,671		185,052	(106,067)		10,138	3,077,794
funds
Pension fund	(171,389)			13,000	(1,000)	23,884	(135,505)
reserve
	2,817,282		185,052	(93,067)	(1,000)	34,022	2,942,289
Restricted
funds
SBP	227,545		5,164	(11,132)	(7,997)	(27,252)	186,328
Other		6,770				(6,770)
	234,315		5,164	(11,132)	(7,997)	(34,022)	186,328
Total	3,051,597		190,216	(104,199)	(8,997)		3,128,617
Analysis of net assets between			funds at 31May
Current year				Unrestricted	Restricted		Total
				f		f
Tangible fixed	assets			3,900,000			3,900,000
Investments					173,524		173,524
Net current assets				(117,506)		(257)	(117,763)
Long term liabilities		and provisions		(725,815)			(725,815)
Total				3,056,679	173,267		3,229,946
Comparative	year			Unrestricted	Restricted		Total
				f		f	f
Tangible fixed	assets			3,900,000			3,900,000
Investments					186,328		186,328
Net current assets				(125,220)			(125,220)
Long term liabilities		and provisions		(832,491)			(832,491)
Total				2,942,289	186,328		3,128,617

From	1	April	2020	to	31January	2025:	f11'243'000	per	annum	(payable monthly	and increasing	by 3%each
										on 1st April)

Defi	cit contributions
From	1April 2016to 30September 2025:	12,945,4 0 per annum	(payable monthly	and increasing	by 3%each
			on 1st April)
From	1April 2016to 30September 2028:	f54,560 per annum	(payable monthly on 1stApril)	and increasing	by 3%each

Present values	of provision	of provision	of provision
					31May	2020	31May	2019	31May 2018
					(fs)		(fs)		(fs)
Present value of	provision					114,460		135,505	171,109
Reconciliation	ofopening		and closing		provisions
							Period Ending		Period Ending
							31May 2020		31May 2019
							(fs)		(fs)
Provision at the	start ofthe		period				135,505		171,109
Unwinding ofthe (interest expense)		discount	factor				1,652		2,530
Deficit contribution		paid					(22,959)		(22,510)
Remeasurements —impact change in assumptions			of any				262		906
Remeasurements		—amendments		to the
contribution schedule									(16,530)
							114,460		135,505
Income and expenditure			impact
							Period Ending		Period Ending
							31May 2020		31May 2019
							(fs)		(fs)
Interest expense							1,652		2,530
Remeasurements in assumptions		—impact	ofany	change			262		906
Remeasurements		—amendments		to the
contribution schedule									(16,530)
Assumptions
					31May 2020 % per annum		31May 2019 % per annum		31August 2018 %per annum
Rate ofdiscount						1.24		1.34	1.58

omparative informa	t	io	n
				Unrestricted	Restricted	Total
				2019	2019	2019
				f	f
Income from:
Investments
Rents receivable				144,327		144,327
Investment income				35	5,164	5,198
Donations				40,690		40,690
Total				185,052	5,164	190,216
Expenditure on:
Raising funds
Finance costs				2,551	2,132	4,683
Charitable activities
Provision ofeducation				90,516	9,000	99,516
Total				93,067	11,132	104,199
Net gains/(losses)	on		investments		(7,997)	(7,997)
Net income/(expenditure)				91,985	(13,965)	78,020
Transfers between		funds		34,022	(34,022)
Other recognised	gains/(losses)
Actuarial losses on		defined benefit		(1,000)		(1,000)
pension scheme
Net movement on		funds		125,007	(47,987)	77,020
Fund balance brought			forward at 1	2,817,282	234,315	3,051,597
September 2018 Fund balance carried			forward at 31	2,942,289	186,328	3,128,617
May 2019