2020-08-31-accounts

	Page
Annualreport of the trustees	2-9
Charity information	10-11
Independent auditor’s report	12-13
Consolidated statementof financial activities	14
Consolidated and charity balance sheets	15
Consolidated statement of cash flows	16
Notes to the financial statements	17-32

SchoolOfficers (key managementpersonnelcurrently and throughoutthe year)	SchoolOfficers (key managementpersonnelcurrently and throughoutthe year)
Headmaster	Mr M W Hoskins BA (Hons) MA MSc
Bursar & Secretary	Mrs L K Hurford BSc (Hons) ACMA
to the Governors
School Advisers
Auditor	Mazars LLP
	6 Sutton Court Road
	Sutton
	SM1 4FS
Bankers	Lloyds Bank
	25 Gresham Street
	London
	EC2V 7HN
Insurance Brokers	AONLimited
	103 Waterloo Street
	Glasgow
	G2 7BW
Solicitors	Goodyear Blackie Herrington
	Oak House
	Tanshire Park
	Shackleford Road
	Elstead
	Surrey
	GU8 6LB
Investment Managers	Cazenove Capital Limited
	12 Moorgate
	London
	EC2R 6DA
Medical Officer	Dr R J Draper MB ChB DA DCH DRCOG MRCGP
	Oxshott Medical Practice
	Holtwood Road
	Oxshott
	Surrey
	KT22 OQL
Charity registration number	312008
Registered Office	Reed’s School
	Sandy Lane
	Cobham
	KT11 2ES

Stephen MillsStephen Mills (Apr 1, 2021 19:02 GMT+1)

Apr 1, 2021

					2020	2019
	Notes	Unrestricted	funds	Restricted	Total	Total
				funds	funds	funds
		General	Designated
		£'000	£'000	£'000	£'000	£'000
Income and endowments
from:
Donations and legacies		362	0	658	1,020	1,096
Gift of net assets from Ripley Court School	17	4,632			4,632	-
Charitable activities
School fees receivable		16,843	69	-	16,912	14,745
Ancillary trading income		113	0	-	113	78
Othertrading activities
Non-ancillary trading income		548	0	-	548	684
Otheractivities		85			85	77
Other operating income
Government grants receivable		430	0	-	430	-
Investments
Income from investments		96	0	112	208	262
Total income		23,108	69	770	23,947	16,942
Expenditure on:
Raising funds
Non-ancillary trading		(568)	0	-	(568)	(573)
Fundraising and development
costs		(253)	0	-	(253)	(206)
Financing costs		(183)	0	-	(183)	(143)
Charitable activities
Education and grant making		(16,998)	(55)	(437)	(17,490)	(14,860)
Total expenditure		(18,002)	(55)	(437)	(18,494)	(15,782)
Net losses on investments		(87)	0	(131)	(218)	(190)
Net income		5,019	15	202	5,236	970
Transfers between funds		115	0	(115)	-	-
Net movementin funds		5,133	15	87	5,236	970
Reconciliation of funds:
Total funds brought forward		21,947	80	4,435	26,462	25,492
Total funds carried forward		27,082	95	4,521	31,698	26,462

	Notes	Consolidated		Charity
		2020	2019	2020	2019
		£'000	£'000	£'000	£'000
Fixed assets:
Tangible assets		29,981	23,704	29,971	23,695
Investments		5,081	5,106	5,332	5,356
Total fixed assets		35,062	28,810	35,303	29,051
Current assets:
Stocks		154	118	8	1
Debtors		212	385	185	475
Cash at bank and in hand		10,417	5,573	10,200	5,147
Total current assets		10,783	6,076	10,393	5,623
Liabilities:
Creditors: Amountsfalling due within one year		(4,135)	(3,609)	(4,102)	(3,568)
Net current assets		6,648	2,467	6,293	2,055
Total assets less current liabilities		41,710	31,277	41,596	31,106
Creditors: Amountsfalling due after more than one year		(10,012)	(4,815)	(10,012)	(4,815)
Total net assets		31,698	26,462	31,584	26,291
The fundsof the charity:
Restricted income funds	10	(4,521)	(4,435)	(4,521)	(4,435)
General funds	11	(27,082)	(21,947)	(26,967)	(21,777)
Designated funds		(95)	(80)	(95)	(80)
Total unrestricted funds		(27,177)	(22,027)	(27,062)	(21,857)
Total charity funds		(31,698)	(26,462)	(31,584)	(26,291)

	2020	2019
	£'000	£'000
Operating activities
Net income	5.236	970
Adjustmentsfor:
Depreciation of tangible assets	943	906
(Increase)/decrease in stocks	(28)	(16)
Decrease/(increase) in debtors	252	70
Increase/(decrease) in creditors	(445)	348
Loss on investments	218	190
(Decrease)/increase in fees in advance	383	(14)
Gift of Ripley Court School assets	(4,632)	0
Net cash flows from operating activities	1,927	2,454
Investing activities
Payments to acquire tangible fixed assets	(2,384)	(3,808)
Payments to acquire investments	(3,289)	(722)
Receipts from sale of investments	3.096	1.931
Cash acquired from Ripley Court	259	0
Net cash flows usedin investing activities	(2,319)	(2,599)
Financing activities
Cash(inflows)/outflows from borrowing/repaymentof long term	5,236	(442)
creditors
Net (increase)/decrease in cash and cash equivalents	4,845	(587)
Cash and cash equivalents at the beginning of the year	5.573	6.160
Cash and cash equivalents at end of year	10,417	5,573
Cash and cash equivalents consist of:
Cash at bank and in hand	10,417	5,573

	2020	2019
	£’000	£’000
Fees receivable consist of:
School fees	19,574	17,480
Less : total scholarships, bursaries and other awards	(3,042)	(3,167)
Net fees receivable	16,531	14,313
Add back: bursaries and other awardspaid for by	381	430
restricted funds
Total school fees receivable	16,912	14,745

		2020	2019
		£000	£000
Governmentgrants	receivable	430	0

				2020	2019
	Staff costs	Depreciation	Other	Total	Total
			costs
	£000	£’000	£’000	£’000	£000
Costs of raising funds
Trading costs	250	3	314	568	573
Development costs	180	-	73	253	206
Financing costs	-	-	183	183	143
Total costs of raising funds	430	3	570	1,004	922
Charitable expenditure
Education and grant making
Teaching	9,271	-	1,056	10,327	8,125
Welfare	330	-	929	1,260	1,772
Premises	745	939	1,762	3,446	2,829
Support costs and
governance	1,245	-	776	2,021	1,690
Grants, awards and prizes	-	-	437	437	444
Total expenditure	11,591	939	4,960	17,490	14,860
Total expended	12,021	942	5,531	18,494	15,782

rants, awards andprizes awardedto pupils
	2020	2019
	£'000	£'000
From restricted funds:
Bursaries and other grants	381	431
From unrestricted funds:
Awards and other grants	56	13
Total grants, awards andprizes	437	444

	2020	2019
	£'000	£'000
Staff costs	40	35
Governortraining	-
Governor expenses	1
Auditor's remuneration for audit services -	25
charity
Governancecosts - charity	66
Auditor's remuneration for audit services - subsidiary company	5
Governancecosts - group	71	59

	2020	2019
	£'000	£'000
Total staff costs comprised:
Wagesandsalaries	8,891	7,403
Taxes and social security
costs	956	174
Pension contributions	1,638	970
Medical insurance premium	106	67
	11,591	9,214
Aggregate employee benefits of key management personnel	329	287

Numberof higher paid employeesin
bandsof:	2020	2019
£60,001 to £70,000	26	23
£70,001 to £80,000	7	4
£80,001 to £90,000	1	2
£90,001 to £100,000	2
£130,001 to £140,000	=	1
£150,001 to £160,000	—	1

Charity Subsidiary	Assets in the Schooloffice Motor Charity Furniture Motor Group	course of and vehicles total and vehicles consolidated	construction computer equipment total	equipment	£'000 £'000 £'000 £'000 £'000 £'000 £'000		3,370 2,212 276 33,722 33,742	2,171 81 23 2,379 2,384	(3,697) 106 4,836 4,836 1,844 2,399 304 40,937 40,962	(3,697) 106 4,836 4,836 1,844 2,399 304 40,937 40,962	(3,697) 106 4,836 4,836 1,844 2,399 304 40,937 40,962		1,936 224 10,026 10,037	146 31 940 oO 943	2,082 255 10,966 10,980		1,844 317 49 29,971 10 29,981	3,370 276 52 23,695 23,704
	Land and	buildings	freehold		£'000		27,863	105	4,725	3,697	36,390		7,866	763	8,629		27,761	19,997
						At cost	1 September 2019	Additions	Gifted from Ripley Court School	Completed in the year	31 August 2020	Depreciation	1 September 2019	Chargefor the year	31 August 2020	Net book values	31 August 2020	31 August 2019

			Consolidated		Charity
			2020	2019	2020	2019
			£'000	£'000	£'000	£'000
Investments	-	listed	5,081	5,106	5,081	5,106
Investments	-	subsidiaries	-	-	250	250
			5,081	5,106	5,332	5,356

Subsidiary Investment	2020
	£'000
Cost
At 31 August 2020	250
Net Book Value
At August 2020	250

	2020	2019
Subsidiary company	£'000	£'000
Turnover	238	260
Cost of sales	(140)	(172)
Grossprofit	98	88
Other income	353	425
Administration charges	(433)	(437)
Net profit for the year before taxation	19	76
Taxation	-	-
Netprofit) for the year	19	76
Net assets	366	423

At mid-market value	2020	2019
	£'000	£'000
At 1 September 2019
(2018)	5,106	6,505
Additions	3,289	722
Disposals	(3,096)	(1,931)
Investment losses	(218)	(190)
At 31 August 2020 (2019)	5,081	5,106

	£'000
Trojan Income Fund	509
Charities Property Fund	409
Vanguard S&P 500 UCITS ETF	378
M&G Global Dividend	338
Fund

	Consolidated		Charity
	2020	2019	2020	2019
	£'000	£'000	£'000	£'000
Trade debtors	27	33	=	-
School fees and disbursements recoverable	19	146	19	146
Prepayments and accrued income	166	206	166	206
Amounts owed by Group undertakings	1	-	1	123
	213	385	186	475

	Consolidated	Consolidated	Charity
	2020	2019	2020	2019
	£'000	£'000	£'000	£'000
Bank loans and overdrafts	426	456	426	456
Taxes and social security costs	277	221	277	219
Advancefees (Note 9)	2,299	1,877	2,299	1,877
Amounts owedto Group undertakings	-	-	57	-
Othercreditors	769	795	679	768
Accruals and deferred income	364	260	364	248
	4,135	3,609	4,102	3,568
. Creditors: amounts falling due after one year
	Bank	Advance	Other	Total
Charity	loans	fees	creditors
	£'000	£'000	£'000	£'000
Amounts repayable by instalments:
In 1 to 2 years	1,240	43	888	2,171
In 2 to 5 years	4,204	37	-	4,241
After 5 years	3,601	-	-	3,601
At 31 August 2020	9,045	80	888	10,012
At 31 August 2019	3,779	119	917	4,815

					2020	2019
					£'000	£'000
At 1 September 2019	(2018)
Amountsfalling due within one year					1,877	1,816
Amountsfalling due after one year					119	193
					1,996	2,009
New contracts					22	83
Early payment of Autumn term		2020	(2019)	fees	2,253	1,744
Amounts utilised in payment of fees					(147)	(163)
Early payment of Autumn term		2019	(2018)	fees	(1,744)	(1,678)
At 1 September 2020	(2019)				2,379	1,996
Amounts falling due within one year					2,299	1,877
Amountsfalling due after one year					80	119
					2,379	1,996
10. Restricted funds
	2019	Income		Expenditure	Investment	Net	Transfer	2020
	total				income	gains/(losses)	between	total
						on	funds
						investments
	£'000	£'000		£'000	£'000	£'000	£'000	£'000
Consolidated small funds	1,024		-	-	33	(44)	(33)	980
Growth fund	1,904		155	-	60	(76)	27	2,071
Cazenove
Andrew Reed	605		1	-	19	(25)	(19)	581
bursary fund
Gifted shares	33		-	-	-	13	-	46
OR's syndicated fund	263		25	(24)	-	-	-	265
Capital fund	46		25	(4)	-	-	(3)	65
Forum fund	98		-	(5)	=	-	-	93
Otherfunds	462		452	(404)	-	-	(87)	422
Total restricted funds	4,435		658	(437)	112	(131)	(115)	4,521

2020	total		£'000	26,967		95	27,062		27,082		95	27,177
Transfer	between	funds	£'000	115			115		115			115
Net losses on	investments		£'000	(87)								(87)
Expenditure			£'000	(17,435)					(18,002)		(55)	(18,057)
Income			£'000	22,598		69	22,667		23,108		69	23,178
2019	total		£'000	21,777		80	21,857		21,947		80	22,027
			Charity	General Reserves	Designated Funds:	Old Reedonians Fund		Consolidated	General Reserves	Designated Funds:	Old Reedonians Fund

Consolidated	General	Designated	Restricted	2020
	Funds	Funds	Funds	Total
	£'000	£'000	£'000	£'000
Tangible fixed assets	29,981	-	-	29,981
Investments	1,598	-	3,483	5,081
Cashat bank and in hand	9,284	95	1,038	10,416
Othernet currentliabilities	(3,769)	-	-	(3,769)
Creditors: amountsfalling due after more	(10,012)			(10,012)
than one year				,
Total funds	27,082	95	4,521	31,698

		2020	2019
		£'000	£'000s
Within	1 Year	62
Within	2-5 Years	272
Within	more than 5 Years	39
		373		0

	Transfer Value	Market Value	Fair Value
		Adjustment
	£'000s	£'000s	£'000s
Fixed Assets	3,361	1,475	4,836
Net current assets	(204)	-	(204)
Net assets	3,157	1,475	4,632

					2019
	Notes	Unrestricted	funds	Restricted	Total
				funds	funds
		General	Designated
		£'000	£'000	£'000	£'000
Income and endowmentsfrom:
Donations and legacies		510	-	586	1,096
Charitable activities
School fees receivable	2	14,675	70	-	14,745
Ancillary trading income		78	-	-	78
Othertrading activities
Non-ancillary trading income		684	-	-	684
Otheractivities		77	-	-	77
Investments
Income from investments		110	-	116	226
Bankand otherinterest		36	-	-	36
Total income		16,170	70	702	16,942
Expenditure on:
Raising funds
Non-ancillary trading		(573)	=	=	(573)
Fundraising and development
costs	3	(206)	-	-	(206)
Financing costs	3	(143)	-	=	(143)
Charitable activities
Education and grant making	3	(14,342)	(86)	(432)	(14,860)
Total expenditure		(15,264)	(86)	(432)	(15,782)
Net (losses)/gains on
investments	5	(199)	-	9	(190)
Net income/(expenditure)		707	(16)	279	970
Transfers between funds		234	-	(234)	-
Net movementin funds		941	(16)	45	970
Reconciliation of funds:
Total funds brought forward		21,006	96	4,390	25,492
Total funds carried forward		21,947	80	4,435	26,462