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2022-08-31-accounts

Page
Governors'
Report		 1-11
Auditors'
Report		 12-15
Statement of Financial Activities 16
Balance Sheet 17
Cash Flow Statement 18
Notes to the Financial Statements 19-31

Unrestnct*d Restricted Ead ow ment Total Total
Notes funds
6		 fuiids fund
6		 2022
6		 2021f
INCOME FROM:
Chanlable
Activities
School fees 2,848,665 2,848,865 3,064.65I
Other income
Other trading
income
Oilier acuvnles		 555,1D1 555,101 425 379
55 236
Investments
Investmenl
Income		 156,169 70,539 226,788 253,641
Voluntary sources
Grams and donation s		 784,037 2,012.,591 10,000 2,806,628 977,254
Total mcorne and endowments 4,343,972 2,083.130 10,DDD 6,437,102 4,776,161
EXPEROITURE ON:
Costs ofraising funda
Fundraising
and development
Other trading
costs
Other expenditure		 216,315
350,581
i!,568		 216,315
35D,561
8,568		 177081
335463
483
Charitable
activities
Education 4,271,616 197,478 30,581 4,519,675 4,0g7,787
Total expenditure 4,847,080 197,47tl 50,581 5.D95,139 4.610.809
Net operating! ncom e/(expenditure( (503,103I 1,885,652 (40,581) 1,341,963 165953
Net gains on investments
Net incomei(expenditure) (503,633( 1,885,652 (781,892( 600127 1156891
Transfer
between funds		 18
last rnavement
in funds		 161,815 1,220.204 (781.ti92( 600,127 1,156,891
Fund balances braught
forward		 15,079,922 1,358,322 8,589,210 25,027,454 23 670 563
Fund balances camed forward 19,2D 15,241,737 2,578,526 7,807,318 25,62'7,581 25,027,454

ANCE SHEET
31 Au
ust 2022
Notes 2022 2021 2022 2021
Getup
6		 Groupf Behoof Schoolf
FIIIED ASSETS
Tangible
assets
Irivestmenls		 12
13		 t3,338,719
8968 222		 13S20,983
9767490		 13,339,719
8,968,222		 13.620,983
9767490
CURRENT ASSETS 22,307,641 23.386,473 22,387,941 23,3tla,473
Stocks
Detriora
Cash at bank end m hand		 14
'15		 3,778
1,607,686
2,692,697		 2,509
298,677
2258 821		 3,778
1,973,879
2,304N30		 2,509
547,659
I 994874
4,304,161 2,561,307 4,282,467 2,545 042
CREDITORS: Amounts fa0mg due within one year 18 (692,854) (530,657) (671,180) (514,392)
NET CURRENT ASSETSI(LIABILITIES) 3,611307 2 030650 3611307 2030650
TOTAL ASSETSLESS
CREDITORS: Amounts		 CURRENT LIAIBILITIES
falling due after more than one		 17 25919,246 25419,123 25,919,249 25,419,123
year (291,667) (391,667) (291,667) (391,687)
Provisions
for gablgtlea		 and charges
NET ASSETS
FUNDS
Reamicted funds
Unrestricted
tunda —general
Unreatricted
funds —designated
Fixed asset lund		 18
18
18
18		 2,578,528
1,831,474
70,544
13,339,719		 1.356,322
1,401,015
57,924
I3,620,963		 2,578,526
1,631,474
70,544
13,339,719		 1,358,322
1,401,0(5
57,924
I3.620.983
Endowment
fund		 18 7.807.318 8 589,212 7,807,3ts 8.589.212

ear ended 31 Au
ust 20		 22
CASH FLOW STATENENT btotes 2022 2021
6
Net cash mffow frorn operating
scbvities		 23 546,645 743408
CaSh SOWS frOm inVeating
Sctivibes
Sairk interest received		 226,708 253,641
Paymerlts
to acquire fixed assets		 (240,125) (627,005)
Sale proceeds
from disposal of		 fixed assets 43 958
Paymarits
to acquire investments
Net cash outSow from irvesting activibes
Financing:
Loans repaid (100,000) (8,333I
Net cash outflow from finandng activities
increase/(decrease)
ln cash		 423,228 390,669
Cash and cash equivalents
at the
begirining
ofthe reporting
period		 2,282,398 't,891,729
Cash and cash wtutvalents
et tile
end ofthe reporting
period		 2,705,826 2,282,398
Cash al bank snd on hand 2,692,697 2,259,921
Investments 12,929 22 477
The Yehudi
Menuhin
School Limited
ACCOUNTING
POLICIES
for the
ear ended 31 Au ust 2022
I ACCOUNTING
POLICIES
Tile Yehodi Menuhin
School Limited isa charitable
comp*ny limited
by guarantee
with registered
number 00818388, r'egrstemd
m England
and Wales.
its registered
oNice is Mitlfreld. Cobham Road. Stake O'Abernon,
Cobham, Surrey, KTII 3QO,
1.1 BASISOF PREPARATION
Ths financial
statements
have been prepared
i~ accordanm
with tha Fiitaneal
Repomng
standard
applicable
in the UK and Repubkc of Ireland IFRs
102) The School and
its subsidiaries
are a publm
benefit
entity for the purposes
of FRS 102 and therefore
the School also prepared
rts financial
statements
in accoidance
with
the Statement
of Recommended
Practice
applicable
to chanties
preparmg
their accounu
in accordance
vnth
Ihe
Financial
Reportirlg
Standard
applicable
In Ihe UK and Republic of Ireland
IThe FRS 102Chsnties SORP)
the Compames
Act 2006 and the Charitres
Act 2011.
The financial
statements
ara prepared
in sterling
which
is Ihe functioriel
corrency of Ihe School, Monetary
amounts
in lhasa tinanmal
slalemenls
are
rounded
to the nearesl
pound
These financial
statements
srs prepared
on Ihe going coilcem basis, under the histoncsl cost convention
as modiged
bl Ihe revaluation
of investments
and
in accordance
with the Companies
Act 2006 and applicable
arxmuntrng
standards
in the Llnrted
Kmgdcm. The pdndpal
accountrng
polioes, which
have been applied
consistently
throughout
the year, @reset out below
Basis ofconsolidation
The Group comprise
The Yehudr
Menuhm
School Limited,
YMS Enterprises
and YMS China Limited. The assets
liabilities
and results of tre wholly
owned
subsidiary
companies,
YMS Enterprises
and YMS China
Limited. srs consolidated
into these finanoal
statements.
Summanssd
derails ofthe
subsidiary
companies
are set oul
in Note 25 end 26. Ag activities as per Consolidated
Statement
of Flnaneal
Ackvilies ISOFAI relate lo continuing
opslsdohb
1.2 GOING CONCERhl
CLIENT TO UPDATE
The Govemom
frvs assessed
whether
the use ofths going concern basis
leIpropriat
and have considered
possible events or condkions
mt might
cast signlficant
doubt on Ihe abslty ofthe chantable
grovp as a going concern
The governors
have made this assessment
for a period ofat leasl are
year from Ihe date of approval
of tra finanaal
statements.
In particular
the governors
have considered
the charitable
group s forecasts and projections
and have taken account of pressures
on fes Inccrne and fundraised
mneme
in Ihe current economic dimeter. The governors
have co~eluded
that there
ls s reasonabte
expectsticn that the charitable
group hsadequate
resources
to contmue
in operational
existence for the foreseeable future.
As such the School can expect to be able lo meet its lisbigdes as they fag due
in the period of at least 'l2 months
from the date ofapproval
of these
accounts.
On tres basis Ihe Governors
have concluded
that the Schoo! is a going mncem
The finencie! statements
do nol mcluda any adjustments
that would
resu0 from etc group nol being able to meet its liabilities ss they fall du*.
Governors
1.3 COMPANY
LIMB ED BYGUARANTEE
The charitable
company
le smited
by guarantee
lo dte extent of 01each from lhe guarantors
at Ihe present time, being the
ofTh* school
1.4 FEES RECEIVABLE AND SIMILAR ILICOME
Fees receivable
comprise
tuition fees paid by parents,
grants towards fees fi'om the Department
for Edumcon
through
the Music and Dence scheme
and tha parenml
cordrlbutrons.
Fees receivable
end charges for sennces
and use of pmmlses
are accounted
fcr in Ihe period
In which the s*rvlce Is
provided,
1.6 GOVERNMENT GRANTS RECEIVABLE
Government
grants received
In respect of pupss' fees and other grants are mended
within income
in the year to which they relate.
1.6 BURSARY FUNDS
The Seiocl receives some ofits irrcorne
pnmarlly
for Ihs provisioil ot scholarships,
bursa ries snd prizes. These amounts
are held wnhin
reslrikded
funds.
1,7 DONATIONS
AND LEGACIES
Donakons
receivable
For the general
purpose
ofthe Chsrgy are oedited to 'unrestricted
funds'.
Donetrcris
for pumoses
restricted
by the wishes
of the
donar are laken to 'restricted
furlds' where these wishes are legally
bin dmg on the govemonk
Donations
required
tc be retemed es capssi
m accordance
withth*donor'svnshesweaccou
tedforns'endo
W'—penriene to expendables
dl gtc the nature ofthe
cslrlcscn.

2022 202I
Unrestricted
funds		 784,037 347,677
Resbictsd funds 2,012,59I 609.577
Ensnared
fultds		 10,000 20,000
Donations
and grants		 2,806,628 977,254
7 EX PENOITU
RE		 Staff costs Total
jnote 8)
f		 Other
E		 Deprecltttio ~ 2022f
Costs ol raising funds
Drecl fundrareng casts 200,2S2 16,033 2I6,315
Direct trading
expendhure		 costs 209,708 140,873 350,581
Qthersxpenditure 8,568 s,sss
409,990 165,474 375,464
0he rite his expenditure
Teaching		 1,833,776 102,983 82,331 2,019,090
Welfare 323,029 173,709 496,738
Premises snd Estates 191,090 553,775 439,057 1,163,922
Admlnlstrabon 408,068 373.326 78I,394
Governance 38,531 38,53t
2,755.963 1,242,324 521,388 4,519,675
TotsI Expenditure 3,165,953 1,407,798 521,388 5,095,I39
Total
staf rxrsts Other ~eprecration 2021
E E f E
Casts of raising funds
Dltact hlhdrnlslhg casts 170,020 7,061 177,087
Direcri trading
expenditure		 costs 159.599 175,859 335,458
Omsr expenditure 403 483
329,619 183,403 513,012
Charitable
ex pend
Teaching		 nure \,847,835 84,216 67,711 1,939,762
Welfare and Caferlltg
Premises		 307,805
tan,ses		 109,343
377.322		 1,525
396,705		 418,673
943,431
Admlmstrabar 425,532 271,341 696,873
Fmanre
Governance 38,998 3f!,988
2,750,636 881,210 465941 4 097737
Total expenditure 3,080,255 1,064,613 465,941 4,610,609

h e
ear ended 31 Au		 e
ear ended 31 Au		 cat 2022
Other Governance
Costs		 include' 2022 2021
5
Auditors'
remuneiaaon
-Audit Fees
—Accountancy
Fees
- under provisiort
from prevcus year
- Other fees		 23,680
7,182
742
5,238		 26,094
6,540
5,173
5,803
8 STAFF COSTS 2022f 2021
Wages and satanas
Social secunty costs
Other pension casts
08ier stsff coals		 2,236,705
224,678
352,327
352,163		 2,037,532
206,325
335.943
447 455
The average
monthly		 number cfemployees during the year was as fcfiows 2022 2021
Teschirig No.
30		 No.
29
Non-teaching 43 41
73 70
The number of employees
whose emoluments
560,000 m Ihe year wes as follows		 amounted toaver 2022 2021
500,000 - E70.000
570,001 -580,000
f80,001 —f90,000
ElX,001 - E110.000		 No.
I
2
1		 Nc.
2
2
1

Investment Listed
Pmpfirty Investments 2022 2021
6
Coat/valuation
Al 1 September 2021
Addibcns
In vestment
management
expenses
Gains/(Losses)
arisltig from movements		 in valuabons 422.854 9,344,630
10,000
(67,432)
(741,a3s)		 9,767,490
10,000
(67,432)
(741,838)		 0,804,972
20,000
(40,II21)
991,539
Cosuvslu*tiun At 31 August 2022 422054 0545308 0968222 ~767490
l.liston ccost at 31 August 2021 5 819673 5619573 5507666
UK equities
Property
Cash		 422,054 8,532,439
12,929		 8.532,439
422,054
12,929		 9,322,157
422,654
22 470
422.854 l!,545,36!! 8,96(!,222 9,767,49D

14 STOCK
2022 2021
General Stock 3,770 2,509
15 DEBTORS
2022 2021 2022 2D21
Grotlp Group School School
6 S 6 6
Fees and extras
Less provision
for doubfful debts
Other debtors		 81,332
(17,100)		 152,141
(5,566)
6,567		 51,698
(14,750)		 131,063
6,667
Prepaym ants and accrued income 1,543,543 143,635 1,543,4S7 143,835
Amount due from graup undertaking 393,440 266,2/4
1007 687 298,077 1,973,079 547,659

Amounts falling due within falling due within falling due within one year. 2022 2021 2022 2021
Group
6		 Gmupf School School
Loans 100,000 100,000 '100,000 100,000
Trade cmditom 96,140 79,41 7 96,140 79,417
Taxelror
and social sscuitty costs
Fee Deposits		 57,303
60,327		 50,654
48,317		 57,303
60,327		 50,664
48 317
~eferred income end Fees in advance 220,042 146,601 219,392 145,103
Other creditors 16,521 4,049 11,193 4 04g
Accmals 142,522 101,517 126,825 86,842
Ant cunt due lo group unde deking
692,855 530,655 5'/1 180 514392
Deferred income. 2022 2021
8
Brought forwaNv 146,69't 390.360
Released in year (146,691I (390360)
Deferred tee Income for Autumn
Tem		 219,392 145,103
Deferred income donated
Deferred income fees ese 1 588
Gamed forwards 220,042 146691
17 CREDITORS DGE AFTER ONE TEAR
2022 2021
School School
5 Groupf & Group
Amounts
falling due after
Bsnkloan		 mare than one year 291,667 391,667
2022 2021
School School
8 Group
3		 5 Groupf
Amounls
Bank		 falling
loan		 due a8er more then one year 20haey 391 667

TES TO THE FINANCIAL STAT
the
ear ended 31 Au
uat 2022		 EMENTS
18 STATEMENT OF FUNDS
Al 1 Transfer
September Between Ge,nsl Al 31 Au(ical
2021 Income
f		 ExPenditure E Funds
E		 (losses)
E		 E
Unrestricted
funds:
General reserve 1,401,015 4,343,972 (4,325,692) 412,704 (525) 1,831,474
Designated
fund:
Weasce Curzcn
Designated
Bumary Fund		 4,550
53,374		 12,620 4 550
65,994
Tots!designated 57 tl24 12 620 70544
Ftxed Asset Funds 13620 983 240 124 13339719
Restricted
funds:
Bursary Funds
Other Restr cled Funds		 I 256,950
101,372		 1,894,865
I66,265		 (197.479) (r)62,846)
(2,600)		 2,486.967
il9,559
Total raslrl cled 2 578 526
Endowmentfunde:
Permanent
Endowntents
Expendable
Endowments		 2,378,759
6,210,451		 10.000 (17,013)
(33,568)		 (249,427)
(491,884)		 2 122319
5,684,999
Total endowment 8580210
Total funda 26,027,454 6,437,102 (5,D95,139) (741,838) 25,627,581
Unrestricted
fund~:		 At I
Beptembsr
2020
E		 Income
E		 Expenditure Transfer
Between
Fundsf		 Gainer
(losses)
E		 At 31 August
2021
General reserve 1,057,267 4,061,697 (3,907,613) 189,663 1,401,015
Designated
fund:
Wdlecs Curlcn
~esignated
Bursary Fund		 4,550
53,374		 4,550
53,374
Total designated 57924 57 924
Fixed Asset Funds 13473117 613806 13 610983
Restricted fundat
Bursary Funds
Giber Restricted Funds		 1,322,463
333101		 504,044 (560,5571 1,256,950
101372
Total restricted I 655 554 1 358322
Endcwrnentfunds.
Pemtanent
Endowments
Expendable
Endowmenls		 2,034,543
5,592,149		 20,DDQ (13,646)
(35,3731		 337,862
653,677		 2.378,759
6,210,451
Totalendo
ent		 7 626 692 991.539 8,589210
Total funds 23 870 564 991.539 25,027,454

~nrestrlcted Restncted Permanent Expendable 2022
fiiitds funds Endowment Endowment Total
Tangible fixed assets
InvestmentS
Current assets		 13,339719
535,941
2,350,598		 624 963
1,953,563		 2 122,319 5.M4.999 13,339,719
8,986,222
4,304,161
Current
liabilities		 (592,854I (692,854)
Long term fiabtttttes (291,667] (291,667)
Total net assets 15241,737 2.578.526 2,122,319 5,634,999 25,627,581
Unrestricted Rcstnded Pem anent Expendable 2021
funds fiinds Endowment Endowment Total
6 6 6 6
Tangible
tixwl assets
Inveatniahta		 13.620,983
553.315		 624,963 2,378.759 6,210,453 13,620,983
9767490
Net current assets 1.297,291 733,359 2,030,650
Long lerm liabilities (391,66'rf (391,667(
Total net assets 15,079,922 1,358,322 2,378,759 6,210,453 25 027,456

NOTES TO THE CASHFLOW STATEMENT
Reoonciliatiorl
ofoperating
result to nel cash inflow fram		 2022
E		 2021
rrperseng
activities
Net mcvemenl
in funds
(Garnsyloss
on mvestments
Depreciation
Drvrdends
end interest received
Profit/(Loss)
on sale of Fixed Assets		 600,127
741,836
521,369
{226,708)		 1.155,892
(991,559)
465,941
(253,641)
30,758
Increase/(Decrease)
I~ creriitcrs
(Increase)/Decrease
m debtors		 162,197
(1,250,926)		 (359,142)
727,963
Decrease/(tncmsse)
m stocks		 (1,269) 1,176
At 1September
2021		 Cashflows Other non-cash
changes		 At 31
AI/gus12022
Cash and cash equivalents 6
Cash-inhend
- investmenta		 2 259 921
22,4/7		 432,776
(9,548)		 2,692,697
I2,929
2,282.396 423,228 2,705,626
Solycwings
Debt due within cne year
Debt due after one year		 (100,000) 100.000 (100000)
100000		 (100000)
~291667
(491,687) I00,000 (391,867)
Total 1 790 731 523 228 2313959

The fmancial statements of YMS Enlsrpnses
for the year to 31 August 2022 showed		 the following
positron
AI I
At 31 August
2022		 September
2021
BALANCE SHEET E
current Assets
Cash at bank and
in hand		 154,279 66BI67
Debtors 20,949 17,492
Creditors: amounts
fallntg due wrlhirt one year		 (175,227) (94359)
TOTAL NET ASSETS
RESERVES
Profit end lass account
PROFIT AND LOSS ACCOUNT
Turnover 166365 146,569
Operating
costs		 (89.676) (43,747)
GROSS PROFIT 96,707 102,622
Administrative
expenses		 (37,151 (26,061)
Profit ir year 59,556 74,761
Retained
profit brought		 forward
Amount
distributed
to YMS under Grk Ard		 (59,556) (74,761)
RETAINED PROFIT

The financial statements ofYMS Ohms Ifmited for the year Io 31 August 2022 showed the following poetian:
At 31 August
2022		 At I
September
2021
BALANCE SHEET
Current Assets
Cash at bank and
iri hand		 233588 188,180
Debtors 6 250
Craditom
amounts
falling
TOI'AL NET ASSETS		 due within one year (239,838) (108,180)
RESERVES
ProFitend
lass account
PROFIT AND LOSSACCOUNT
Twnaver 256,250 250,000
Operating casts (20,472)
GROSS PROFIT 256.250.00 220,528
Administrative
expenses
Profit in year		 (54 53800)
201,712.00		 (48 015)
172,514
Retained
(losel brought		 farward
Amount
distributed
to YMS under Gift Aid		 (201,712) (172,514)
RETAINED PROFIT)(I.OSS)