2021-05-31-accounts - Westonbirt Schools Limited

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Company	Secretary	Secretary	MBM Porter
Registered	Office		Stable Cottage
			Eckington Road
			Birlingham
			Pershore
			Worcestershire
			WR10 3DA
Principal	Office		Stable Cottage
			Eckington Road
			Birlingh am
			Persh ore
			Worcestershire
			WR10 3DA
Solicitors			Charles Russell Speechlys			LLP
			Compass House
			Lypiatt Rd
			Cheltenham
			GLSO 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

The following Directors	held office during the year ended	31May 2021:
DJ McMeekin		(resigned	21December 2020)
JGB Birdwood		(appointed	29 October 2020)
PK Broomhead		(resigned	21October 2020)
JR Brown		(appointed	30October 2020)
TBGaffney		(resigned	21December 2020)
JD Greenwood		(resigned	21December 2020)
PMC Leggate		(resigned	21October 2020)
HC Metters		(resigned	21October 2020)
RA Portlock		(appointed	30October 2020)
Reverend PJ Whitworth	(Chair from 4January 2021)	(appointed	4January 2021)
CJC Wyld		(resigned	21December 2020)

								Total	Total
								Year	Year
					Notes	Unrestricted	Restricted	31May	31May
						2021	2021	2021	2020
							E	E
Income from:
Investments
Rents receivable						144,327		144,327	144,327
Investment income							4,407	4,407	4,417
Total income						144,327	4,407	148,734	148,744
Expenditure on:
Raising funds
Finance costs						1,317	1,742	3,059	3,555
Charitable activities
Support of provision			of education			27,413	14,000	41,413	34,128
Total expenditure						28,730	15,742	44,472	37,683
Net gains/(losses)		on	investments				27,904	27,904	(9,470)
Net income						115,597	16,569	132,166	101,591
Other recognised		gains/(losses)
Actuarial losses	on defined
benefit pension	scheme					(1,046)		(1,046)	(262)
Net Movement	in	Funds				114,551	16,569	131,120	101,329
Fund balance brought			forward	at
1June 2020						3,056,679	173,267	3,229,946	3,128,617
Fund balance carried			forward	at	11	3,171,230	189,836	3,361,066	3,229,946
31May 2021

				Notes	2021	2020
					f	f
Tangible Fixed Assets					3,900,000	3,900,000
Investments
Other Investments					190,113	173,524
					190,113	173,524
Current Assets
Debtors					1,260	1,798
Cash at bank	and in	hand			11,853	7,439
					13,113	9,237
Creditors: amounts		falling	due within one year		(123,676)	(127,000)
Net Current	Liabilities				(110,563)	(117,763)
Total Assets	less Current		Liabilities		3,979,550	3,955,761
Creditors: amounts		falling	due after more than one year		(525,612)	(611,355)
Provisions				12	(92,872)	(114,460)
Net Assets					3,361,066	3,229,946
Funds				10
Restricted funds					189,836	173,267
Unrestricted	funds				3,171,230	3,056,679
Total funds					3,361,066	3,229,946

Analysis oftotal resources e	xpended
Current year			31May
	Unrestricted	Restricted funds	2021
	funds		Total
	f	f	f
Raising funds
Finance costs	1,317	1,742	3,059
	1,317	1,742	3,059
Charitable activities
Bursary awards		14,000	14,000
Support costs	21,413		21,413
Governance costs	6,000		6,000
	27,413	14,000	41,413
Total expenditure	28,730	15,742	44,472
Comparative 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	20,688		20,688
Governance costs	7,440		7,440
	28,128	6,000	34,128
Total expenditure	29,675	8,008	37,683

				31May	31May
				2021	2020
				f	f
Auditors'	remuneration	(excluding	VAT) for:
Audit services —current		year		5,000	5,500
Other services					700

taff Costs
			31May	31May
			2021	2020
			f	f
Total staff costs comprised:
Wages and salaries			440	496
Social security costs
Pensions contributions
Interest expense	on defined benefit pension scheme		1,259	1,652
			1,699	2,148
The average numbers	ofemployees	in the period were:	2021	2020
			Number	Number
Management &.administration			1	1

						31May	31May
						2021	2020
						f	f
Aggregate	employment	benefits	ofkey	management	personnel	440	496

	Freehold	Total
	property
Cost
At 1June 2020 and 31May 2021	5,823,282	5,823,282
Depreciation
At 1June 2020 and 31May 2021	1,923,282	1,923,282
Net Book Value
At 1June 2020 and 31May 2021	3,900,000	3,900,000

		2021	2020
		E	f
Balance brought forward		173,524	186,328
Proceeds from disposals		(37,718)	(139,147)
Purchases		28,412	131,175
Net gains/(losses)		27,904	(9,470)
Movement on investment	cash	(2,009)	4,638
Balance carried forward		190,113	173,524

	Investments	ar	e ma	de up as follows
					2021	2020
					f	f
	UK Equities				46,258	75,107
	UK Bonds Overseas	Bonds and Equities			7,225 118,904	55,524 30,793
	Property Cash	and	other		12,868 4,858	5,332 6,768
					190,113	173,524
	Debtors
					2021	2020
					f	f
	Prepayments		and	accrued income	1,260	1,798
					1,260	1,798
7	Creditors: Amounts			falling due within one year
					2021	2020
					f	f
	Accruals and		deferred income		123,676	127,000
					123,676	127,000
8	Creditors: Amounts			falling due after more than one year
					2021	2020
					f	f
	Deferred	rental income (note 9)			518,292	601,219
	Accrua Is				7,320	10,136
					525,612	611,355

																	2021	2021					2020
																		E					f
At 1June	2020															684,		146					767,073
Released	to		income in the year													(82,927)							(82,927)
At 31May		2021														601,219							684,146
The deferred			income is expected				to	be	recognised					as follows:
																	2021						2020
																		F					f
Within 1	year															82,927							82,927
Within 1	to		2years													82,927							82,927
Within 2	to		5years													248,781							248,781
After more			than	five years												186,584							269,511
																601,219							684,146
Funds
Current year					Brought		Income					Expenditure			Gains/			Transfers				Balance carried
			forward at 1												(losses)							forward at 31
				June 2020																			May 2021
					f																f		f
Unrestricted
funds
General				3,171,139			144,327						(27,471)					(23,893)					3,264,102
funds
Pension fund				(114,460)									(1,259)		(1,046)				23,893				(92,872)
reserve
				3,056,679			144,327						(28,730)		(1,046)								3,171,230
Restricted
funds
5BP					173,267			4,407					(15,742)		27,904								189,836
					173,267			4,407					(15,742)		27,904								189,836
Total				3,229,946			148,734						(44,472)		26,858								3,361,066
Designated		funds
Within general funds					is a pension		scheme			reserve				with a deficit of		f92,872 (2020:f114,460)
relating to	a	defined			benefit scheme			provision					(see note 12).
The transfers			shown		above reflect contributions								paid to reduce the liability in						the year.
Restricted	funds
The Scholarship				and Bursary		fund		now		consists				of funds	that	were		originally			raised		by the
Westonbirt		Association, Westonbirt's							old		girls'			association,	to	give		financial		support			to the
children of	former			pupils ortheir husbands							who		had lost their		lives	in the Second				World		War; over
the years	these			funds have		been		supplemented						by donations		from		former		pupils			and the
restriction	on the recipients					of awards				was		changed to reflect				the	absence			of	any	qualifying

Comparative year Unrestricted	Brought forward at 1 June 2019 f	Income	Expenditure	Gains/ (losses)	Transfers f	Balance carried forward at 31 May 2020 f
funds
General funds	3,077,794	144,327	(31,327)		(19,655)	3,171,139
Pension fund reserve	(135,505)		(1,652)	(262)	19,655	(114,460)
	2,942,289	144,327	(29,675)	(262)		3,056,679
Restricted
funds
SBP	186,328 186,328	4,417 4,417	(8,008) (8,008)	(9,470) (9,470)		173,267 173,267
Total	3,128,617	148,744	(37,683)	(9,732)		3,229,946

Current year			Unrestricted	Restricted	Total
			f	f	f
Tangible fixed	assets		3,900,000		3,900,000
Investments				190,113	190,113
Net current assets			(110,286)	(277)	(110,563)
Long term liabilities		and provisions	(618,484)		(618,484)
Total			3,171,230	189,836	3,361,066
Comparative	year		Unrestricted	Restricted	Total
			f	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

From	1	April	2021	to	31	January	2025:	f11,243,000	per	annum	(payable monthly on 1st April)	and increasing	by 3% each

From	1	April	2016	to	30	September	2025:	f12,945,440 per annum	(payable monthly on 1st April)	and increasing	by 3% each
From	1	April	2016	to	30	September	2028:	654,560 per annum	(payable monthly on 1st April)	and increasing	by 3% each

			31	May 2021	31May 2020	31May 2019
				(fs)	(fs)	(fs)
Present value of provision				92,872	114,460	135,505
Reconciliation	of	opening and closing provisions
					Period Ending	Period Ending
					31May 2021	31May 2020
					(fs)	(fs)
Provision at the	start ofthe period				114,460	135,505
Unwinding ofthe		discount factor (interest expense)			1,259	1,652
Deficit contribution		paid			(23,893)	(22,959)
Remeasurements assumptions		—impact of any change	in		1,046	262
Remeasurements		—amendments to the contribution
schedule
					92,872	114,460

				Period Ending	Period Ending	Period Ending
				31May 2021	31	May 2020
				(fs)		(fs)
interest expense				1,259		1,652
Remeasurements	—impact of any	change	in assumptions	1,046		262
Remeasurements	—amendments	to the	contribution
schedule

		31May 2021	31May 2020	31May 2019
		%per annum	%per annum	%per annum
Rate	ofdiscount	0.61	1.24	1.34

			Unrestricted	Restricted	Total
			2020 f	2020 f	2020 f
Income from:
Investments
Rents receivable			144,327		144,327
Investment income				4,417	4,417
Total			144,327	4,417	148,744
Expenditure on:
Raising funds
Finance costs			1,547	2,008	3,555
C haritabl e activities
Provision ofeducation			28,128	6,000	34,128
Total			29,675	8,008	37,683
Net gains/(losses) on	investments			(9,470)	(9,470)
Net income/(expenditure)			114,652	(13,061)	101,591
Transfers between funds
Other recognised gains/(losses)
Actuarial losses on defined benefit pension scheme			(262)		(262)
Net movement on funds			114,390	(13,061)	101,329
Fund balance brought 2019	forward	at 1June	2,942,289	186,328	3,128,617
Fund balance carried	forward	at 31	3,056,679	173,267	3,229,946
May 2020