## ||`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`
|