PARKSIDE SCH(iOL TRUST GOVERNURS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 illii 1111 'ABWJJRSi' COMPANES HCXJSE Company Number.. 0667817 Chartty Nvmber.. 312041
PARK51DE SCHOOL TRUST GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 202Z Page Head's Statement Status and. Administralion Report of the. 8oard of Governors incorporatingthe Strategic Report 4-10 Report of the AuditOT5 12-16 Statemerft of Financial Activities 17 Balance Sheet 18 Cash Flow Statement 19 Notes to the Financial Ststements 20
PARKSIDE SCHOOL TRUST GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2022 HEAD'S STATEMENT Our first full year back after Cowd has been full steam ahead, with a continuum of focus on our academic profile 3$ a School. The Year 8 Class of 2022 embarked on thwr nexi adventures at their Senior Schools, with 27% of which achieving some standout scholarships and commendations to schools such as Wellin8ton and Charterhouse. following on from last yearfs Scholars. whom we sent to Harrow and Tonbridge. Each year over the post 3 year5. the results have improved by an average of 8%, with the highest results recorded this year. Common Entrance exams are still extremely effective and well-pitehed as a curriculum that fully prepares the boys for their GCSE Syllabus. The Fevision ski115 and preparation for these exams ensures a full understand of the Year 9 curriculum when presented. The boys relished all the opportunities to make lifelong memorie5 during the Leavers, Programme. which helps equip them for life ahead and covers some inteiestin8, gritty and honest tOPiC5 that young men have lo face in this world today. We 31so rightly celebrated their achièvements at the Year 8 Prize Giving Ceremony and After Party.. with the boys receiving those outstanding SUlts, which they worked so hard for. We also celebrated the right of passage for our Year 7 boys and il was a pleasure to witne5S the handover from our current Year 85 to the new Year 8$ at the Gentlemen's Oinner. The new Year 8s enthusiastically received their white shirt5 and the new Preleet team were 3warded thetr tie5 and badges along with Ehe new Depirty Head Boys and Head Bov. l am extremely proud that we have been shortlisted. once again, for the 2022 Independent School Parent Awards for Best Performing Arts Department and the Best Independent Boys, School. Our Performing Art5 Departments. Creative and ambitiovs programme of 9 productions within one academic year h35 been a phenomenal success. with truly professional performances such as Singing in the Rain Jr. Jungle Book. Heroes of Troy. Harry Potter Mash Vp and the standout Les Misérables. On the Sport front, it has been fantastic to get back to School fixtures culminating in some ama2ing wins. Our tennis team must be mentioned too as we were so close to being completely unbeaten this season, having only lost one match out of frfteen. It was also so wonderful to also see two Parkside Old Boys qualifwA8 to the second round of Wimbledon. Finally, as we are cmttnyally lookin8 to forward-plan, we undertook t10 parent surveys.. one with education consultancy Mungo Dunnett and another inhouse. to explore the viability of going co-ed as a School. Our parèntal body i)verwhelmingly confirmed that Lhey wanted a single sex School wsth co-ed Nursery, which cements our tore teaching and learning skills for boys. This also is testament to the outstanding teaching staff that are now in place at Parkside School, which has been inteEral to receiving the Scholarship resLtlts and accolades for all children in our through- school model. Preparation has already taken place to ensure we are inspection ready. with a mock inspection carried out in Summer term which achieved some incredibly humbling tomments from Ihe Inspector as well as parenls in OLFr survey.
PARKSIOE SCHOOL TRUST GOVERNORS. REPORT FOR THE YEAR ENDÉD 31 AUGUST 2022 I look forward to welcorning in the next ac3demi¢ year and ensuring the pupils at Parkside have the very best education delivered by my outstanding teaching staff. The following events have taken place this year- AUTUMN 2021 Whole School Back to Sthool Picnic Year l Trip to Wisley Year 2 Trip to Painshill Park Year 7 Leadership & Team 8uilding Residential Reception Trip to Bo¢ketr5 Farm Year 5 Camp Out Year 7 Summer eookclub Live ALtthor Q& Parkside 75- U13 Tournament POP Pi2za and Wine Evening Year 3 Team Building Day at Nower Wood GrandpaFents' Morning lor Nursery and Pre Prep Children POP Sponsored Walk Explorer Domtrscience Shows Year 4 Outing to Hampton Court Whole School Charity Oay Parkside Christmas Exrravagan2a Years 5-8 History Talk Christmas Fair Carol SerNice SPRING 2022 U7 Parkside Football Festival Les Trois mousquet3lS WorksIp Years 7 & 8 Digital Parenting Workshop Year 3 Trip to Winchester Science Museum Movie Night Reception Trip to 8fooklands Museum Year 6 eowling Celebration at Guildford Speclrum HOUSÈ 8akeOff Competition Well Being Walk Explorer Dome Science Show Park5trde Player5 Produttiun- Le5 Miserables Senior Schools Exhibition Year 8 Produrtion- Beware thelabbenwock Year 7 Leadership Dav Celebration of Sport Dinner
PARKSIOE SCHOOL TRUST GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2022 Whole School Open Dav Year 2 at St Chrtstopherfs Music Festaval Year 7 Production- Sin8in' in the Rain Jr Sf Lucia Cricket Tour SUMMER 2022 RSE Parent Infcirmation Evenin& led by It Happens RSE Pupil Work5hop5 IYear$ 5- 81 led by It Happens Year 6Trip to Hairy Potter World Year 4 Residential trip io Hindle3p Watten Year 2 Trip to the Gordon Brown Adventure Centre Year 5 Production- Heroes of Troy Year l Trip to Legoland Festival of Swimming Gala held at Park5ide Year 6 Production- Harry Potter Mash-up Year 7 Leadership Day Reception Boat Ride-Trip Jutmlee Celebration Parkside Biathlon Year 2 and Year 7 Buddy Tea Party Year 8 Boys to Box Hill for Away Day Challenge Year 6 attending Elmbridge Citizenship Day Year 8 Leaver5' Trip to Lake Di5trirtlkafell Pike Year 3 Trip to West Wittering Beach trled8ehogs arid Squirrels Teddy Bèars Picnic AdvÈnture Year 4 Produrtion- Pantaxic POP Svmmèr 50ifée YÈar5 1 & 2 Park5ide Mini 05ympics Year 6 Trip to Barfield Year 3 Production- The Jungle Book Whole School Summer Fete Squirrels Summei Concert Year 5 Residentsal Trip to Stratford-upon-AvoTr EYFS Tea Partv Year 7 Gentlemen's Dinner and Piize Giving Charity Afternoon Year 8 Leavers. Celebration Dinner Nicole lanssen BA IHoThsl PGCE NPQH Head
PARKSIDE SCHOOL TRusr GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2022 REGISTERED OFFICE The Manor Stoke D'Abernon Cobham Surrey Kfii 3PX CHARITY NUMBER 312041 COMPANY NUMBER 0667817 GOVERNORS Mr Robin Southwell ' ICh3irman of th.e Board MFS Celia Gre80ry M5 Karen Keane Mrs Pauline Stoffberg Iresigned 29161221 Mrs Kerry Stylski (resigned 311121211 Mrjonathan Wood. Mr5 Claire Tenenb8um (resigned 16131221 Mrs Sharon Pask ' Mr5 Sarah 8radley Iresigned 16131221 Mr James Oavies Mrs Hannah Davies ' lappointed'311121211 Memberof the Frnance & Risk Comrntttee HÈAD Mts N Janssen BURSAR Mr A Fernando PROFESSIONAL ADVISERS: AUDITORS Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP BANKER5 Uoyds TSB Bank PIC 5 Ockham Road South East Hor&ley Surrèy Kr24 6QW SOLICITORS Moore Badow LLP The Oriel Sydenham Road Guildford Surrey GUI 35K
PARK51DE SCHOOL TRusr GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2022 The Governors of Parkside khool Trust pre5efit their annual report including the strateBiC report ènd audited accounts for the year ended 31 August 2022, and confirffl that they comply with the requirements of the Charities Act. the Companies Act 2006. the Memorandym and Articles of A550Ciation and the Charities SORP. STRUCTURE. GOVERhlANCE AND AIMS Constitution Parkside School was estsblished in 1879 which. following several changes of location moved tts Stoke é'Abernon in 1979. Park5ide School Trusl was incorporated on 16 August 1960 as amended by Special Resolution dated 10 March 1984 and 15 November 1999. The latest revision to the Articles is dated 18 Ortober 2011. Parkside Schc•)l Trust is a chariièble company limited by guarantee. gIStered charity number 312041 and company number 0667817. The charity 15 also known just as Parkside School. The Governors are the dittor5 and the charity trustees. The company is limited bv Euararbtee and therefore has no share capital. The liability of eath member is limited to a Sum not exceeding £1 on the windin8 up of the company. Charitable objects The Objects of Parkside School are "to provide and matntain any day andlor boarding school or schools for the education of boys 3nd/or girls". The main charitable purpose is the Advan¢Èment of Education. The Governors have elected to run a preparatory school, providirh8 education to boys between the age5 of 2 and 13 and both girls and boys in the Nursery. Ba¢kground and Eth05 The School welcomes pupils from all backgrounds. Boys who move to Pre Prep from Nursery do so auttsrnatically. Where boys joirb at a later stage. the School's Admission> Policy is not acadernicallv selective and there is a wide cross-section of academic ability. Boy5 are. however. tested to determine whether or not they will be able to follow the curriculum successfully and previous school reports.will be cortsulted for evidence of good behaviour. The School operate5 no reliEiOUS Testrirtions and there 15 no geographical resiriuion. In prnctice, pupib al the School are drawn from within a radiu5 of approximately 20 miles. Although there are no gender rest.rictions in the Charitsble Objects, the School in practice is only open to boys. The Nursery is cooducational. The School is committed tv 5afeguardin8 and promoting the welfare of it5 pupils andexpects all stsff ond volunteers to share this commitwnent.
PARKSIDE SCHOOL TRU GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2022 hool'5 Aims To create a happy. safe and nurturing environmenr- To provide opportunities for our pupils to achieve their full potential through exating. excellent and innovative teaching and learnin8,' To present circumstances for our pupi15 to develop inquisrtive and enquiring minds. whefe they embrace challenge with confidence and develop the skills for their future paths: To promote respectful. fair. well-rounded and confident individuals" and To prepare an inspirin& diverse and challengin8education where our pupils. passions and talents are discovered, celebrated. nurtured and developed. Pastoral Care Pastoral care underpins all aspects of School life for the children. The S¢hool has appointed a Head of Pastoral to lead further on this area. and is developing additional Systems to engage and communicate with both parents and pupils. Equal Opportuftities Promotin8 equal opportunilies is fundamental to the aims and ethos of Parkside School. We treat all our pupils as Èndividua15 and produce a learning comrnunity that embra£es the diver51ty we see in toda¢s world. Parkside Sthool is committed to equal treatment foF all. regardless of an individual's race, ethnitity, religion, sexual orientation. disability. learning difficulty. body image or social background. We believe that. if an indiwdu41 feels valued, they will flourish. Public Bertefft Parkside School set5 Its objectives and plans ils activitie5 and the Governors have had regard to the Charity Comrnission's Publ¢c 8enefit guidance. The guidance rs regularly revtewed and it is ensured thai the School continues to act in the public benefit. Links with the Eocal Community During the course of the year many local organisation5 have used our facilities. inclvding the swimming pool. performante hall and other available rooms. Feesfor hiring these facilities have been reduced where there has been another charity or State school involved. Strurture The Governors who are also Charity trustees are responsible for the overall management of the Park5ide School Trust. The Governing Body is made up of people with professional skills, including educational specialisis. accountants and tawyers. Currently there aFe 7 governors. some of whom have a past connection to the School, for example as ex-parents, or who have joined the Board via the Nomination5 Cornmittee, having been highly recommended. Much of the detailed work ofthe governors is carried out by committees- Education, Finance and R45k. Estates, Health and Safety. Safeguarding and Nominations. The Governors give their time freely and no remuneration or expenses were paid in the yèar. No governor or person connected with a governor received any benefit from fflean5 tested bursaries awarded to our puiHIs.
PARKSIDE SCHOOL TRUST GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST2022 The day to day running of the School is delegated to the Head. Bursar and the Senior. Leadership Team ISLTI. The Head. Bursar and Senior members of staff attend Committee meetings as required. The Bursar is responsible for co-ordinating the work of the Committees. preparation of the management accounis and the review of Matters Arising. The key rnan38ernent personnel of Parkside School are the Head and Bursar and the Senior Leadership Team. The Sthool aims to recruit, subject to experience. at the lower to medium point within the salary stale which provides scope for rewarding excellence. Delivery of the School's charitable vision and purpose 15 primarily dependent on the key management personnel and staff costs are the largest single element of OUF Charitable expefiditu. ArUItment and Trustee Tratning All recommended candidates are considered by the ftsll 8oard. New Governors ale invited to visit and tour the School. meet the Chaimian of Governor5. Head and key senior staff and are then Supplied with the following information.. Independent Schools Council IISCI Manual 'Guidelines for Govemor5.' School Prospettus. Annu31 Report and Accounts. Last Inspection Report, website dètails, copy of the latest 'Articles' of the company. An induction process for new Govern$ involves the prospective Governor meeting with the Chairman of ihe Board of Governors to discLFSS the strategic plans. the School's major projects. roles and responsibilities of the Governors. allocation of Governors to certain Committees. 'Governance Structure of the Charitl and attendance at relevant training course5. A tour of the School 15 also included. Governor5 are invited in periodically to observe lessons. meet the staff anLI receive training. Risk Management Risk Management IS the uttimate responsibility of the Board of Governorslrrustees. This responsibility has been delegated to the Finance and Rrsk Committee. The Committee reports to the Board annually for the Board's approval of the rekKJrt and Committee meeiings ale minuted. The Committee seeks to identify those significant risks that potentially could cause substantial impairment in the achievement of the School's objects and aims. A register of these risks is maintained and reviewed annually.- the Board has introduced procedures as so far as is practical and possible to manage them to an acceptable level. The Committee reminds staff and Governors of their responsibilities, in this respect. to consider potential new risks and failures. The highest priority risks identified by ihe Governors were.. A further downturn in the general economic environment. partiDJlady inflation. impacting pupil numbers and the Costs of running the school Common with the independent schools. sector. the threat of VAT on school fee5 ond lifting the business rates concession could also impact pupil numbeis and costs. The effe(ts of Covid-19 on running of the school The Governors regularly review the effettiveness of current plans and stiategies for managing all identified major risks for Parkside School.
PARKSIDE SCHOOL TRUST GOVERNORS. REPORT FOR THE YEAR ENOED 31 AUGUST 2022 Health and Safety is always a significant area for risk manaÉernènt. The risks ranÉe from fire and infrastructure to personal risks (most notably when the pupils attend residential school tripsl. Parkside School Governors take this responsibiltty very seriously and through the terrnly Health and Safety Meetings the annual Risk Assessments are reviewed along wtth the Fire Risk Assessment which is produced externally. monitored by the Health and Safety Committee. The training of all stsff in areas of Health and Safety is of paramount importance and the tra¢ning programme is kept up to date by the Senior Leadership Team. STRATEGIC REPORT Objertives There was significant capiial investment in a51 areas of the School. particularly Nursery and Pre-Prep. These refurbishment projects were all completed successfully and to budget, before the start of the next academic year. The tenni5 Courts and playground areas were a150 upgraded, giving further communal space for all pupi15. In the SprinE Term 2022. a significant digital marketing campaign was launched to support the opening of the all year-round provision in the Nursery, for the EYFS up to and includin8 Reception. The Head has continued to promote the strong academic profile of the school, (ruIting QUtstandin8 teacheis and delivering a dynamic and varied curriculum. The khool wè5 able to host its first Open Day since 2019 in March 2022. where parents. pupils and prospective were invited to look around the School and see the teaching and learnsng in practice. Continuingto build latIonShIpS with other Khools Iboth senior and jvniorl is a key objective. aswell as developing our connections with the local community. intluding St Marfs Church, Chelsea FC and our other neighbours. Charity Go¥emance Code The Charity Governance Code continues to be reviewed with guidance 50ught from the template drxument received via the Independent 5chook' 8ufsars Association in conjunctton with Moore Barlow. The Board reviews pro8fess re8ularty. REVIEW OF AcnviTIES AND ACHIEVEMENTS FINANCIAL REVIEW Our finances Parkside School is a charitable trust and as such our parents have ihe assurance that all Ihe income of the school will bè used for educational purposes. As a Charity we are a150 entitled to an 80% reduction on our busine55 rates on the property we occupy for our charjtable purposes, the financial benefits we receive from this are all applied to our educational purposes. As an educational rharity, we are unable to reclaim VAT{as educational servi¢es are Èxempt for VATI. The School pays tax through contribution5 made for National Insurance.
PARKSIDE SCHOOL TRUST GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2022 Good management of the School'5 Income ènd expenditure, which is rnonitored by regular meetings of the Finance and Risk Committee. ensures confidence in the procedures within which the School operates. The level and breadth of attivity at the Sthool is considerable and the fisks associated with all activities are minTrmi5ed by thorough planning and risk assessment. Reserves Policy The Governors regularly review the level and nature of the reserve funds of the School. At 31 August 2022, Parkside School had unrestrirted fund5 (including amounts tied up in fixed a55ets1 of £4.196,28012021.. £4.122.8321. Due to ihe investment in fixed assets the khool does not Carry free reserves as at 31 AugLrst 2022. The school also had re5tritted reserve5 of £21,41912021.. £26.1091, which represent5 the funds controlled by the Old Boys Association IOBAI. rhe Governors wish to build the Free ReseTres to an amount V4hich represent5 the equivalent of one term's expenditure. However. in the short to Medium tefm it is their intention to Trnvest sub5tant131 sums into building projects. The Governors are mindful that. whilst executing their capital development plan. the level of free reseThes held by the School will fluctuate. The Governors are satisfied that external finance facilities already in plate provide an adequate safety net. if it should be required. Pupil numbers and fee$ In the last academic yeai the budgeted number of pupi15 was in line with predictions. At the end of Summer term 2022 there were 276 pupils on roll.. the number of pupils in Pre Prep was 50 and 175 in the Prep Sch¢x)I with Nursery havin8 51. FTE (full time equivalentl pupils was 257. The Governors recognise the pressure on parents to afford school fees and in order to avoid increasing the fees to cover the cost of bursaries. the School has continued its commercial activities to raise funds to offset extra costs. The Governor5 increased the school fees by 1.95% for this financial year. Bursaries Whi15t the priority for Parkside School has always been the provision of a quality education for its pupils, the Govern015 and staff also believe in the importance of being outward looking and in providing atce5S to Parkside School to those who cannot afford the fees. Any bursary agreed will potentially operate for the entire period a boy 15 a pupil at Parkside School. We will consult the parent5 each year to reassess their financial p051tion. This ensures funds are directed where need is greatest. Bursaries of up to I[ are available depending upon the financial position of parents. If a parent is unable to pay lor the cost of School uniform. sports kit and School trip5. payments to cover these additional costs can be provided under the terms of the Bursary Poliry. The Bursary PolbLry covers two categories:. Those who wish to send their son to Parkside School but cannot afford to pay the fee5.. and Parents who apply for a bursary while their 50n is al Parkside School.
PARKSIDE SCHOOL TRUST GOVERNORS. REPORT FOR THE YEAR ENDEO 31 AUGusf 2022 In assessin8 means, a number of financial fadors are taken into consideration. Parkside School's normal admissions procedure applies when a bursary is offered bul, if more applications are received tharb places èt any one time. prtority will be given to those judged most suitable and likely to gain m05t from the educational provision. In total 8 b¢)ys were in receipt of means tested bursaries. The value of all means tested bursaries which includes pupils starting school, tontinuation of bursaries already a8rÈed. hardship awards for pupils at the school and awards for children of staff over and abo¥e the normal 50% staff discount represents 2.5% of ¢JJr total gross fees. The School has promoted the availability of bursaries during the year from Year 3 and above. Information about bursaries has been included on the website. Other discounts Parkside School has come to an agreement with School Fee5 Plan to run a facility for parents who W15h to pay their schools fees by monthly dirert debit in5talments. To underline the value we place on continuity for families we offer a dixovnt of IO% on the eldest child for parents with three children at Parkside School. or 5% on the youngest child for parents Wlth two children. including children altending the Nursery_ Children of Old Boys are a150 entitled to a S% discount. We also offer a'loyaltydiscount, when pupils moves from Nursery to Pre Prep_ In orderto attratt and retain quality staff we offer a discount scheme where staff members choose to educate their children at Parkside School. Charity Giving The children of Park5ide suppwted the following charities.. Grace Oear Trust, Surrey Wildlife Trust and Litt5e Roo Neonatal Fund raisin8 a total of £2.732. This was achieved through various mufti and charity days throughout.the year. as well as donation5 at the school plays. The pupil-run school council is fully involved in choosing and running fund-raising charity events. FLITURE PLANS The past year saw significant capital investment across the School. parttcularly in the Nursery and Pre-Prep. Goin8 forward, the Govemors intend to continue to Strategically invest in the School, with a stron8 focus to develop and upgrade the sports facilrties and ground5. Alongside this. the Governors will continue to SlFengthen all a5pettS of teaching and learnin8 at the school. This is Supported through the Education Committee. External factors are significantly impacting the operational costs of the school, and therefore the Governors will continue to seek value for money and ensure all costs are directly supporting the education and support of ihe pupils. The School will contÈnue to artively support and promote the local community. both schools and businesses. The effectiveness of the School's appro3ch to Publit Benefit will be continually reviewed.
PARKSIOE SCHOOL TRUST GOVERNORS'REPORT FOR THE YEAR ENDED 31 AUGUST 2022 STATEMENT OF GOVERNORS. RESPONSIBILITIES The Governors (who are also directors of Park5ide School Trust for the pvrp05es of company lawl are responsible for preparing the Governors, Report and the finantial 5taternents in accordance with pplitablÈ law and United Kingdom AccoiJntin8 Standards Iunited Kingdom Generally Accepted Accouniing Practicel. Company law requires the governors to prepare financ431 statements for each financial year which give a true and fair view of the state of affairs of the chèrit3ble company and of the incoming resources and application of re50Lbrces. induding the income and expenditure, of the charitable company for that period. In preparing these financial statements, the go¥ernors are required to.. select suitable accounting policies and then apply them wnsistently- observe the methods and principles sn the Charities SORP- rnake judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting standards have been followed, subjett to any material departures disclosed and explained in the financial statements.. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Governor5 are responsible lor keepin8 proper accounting re¢ords that disclose with reasonable accuracy at any time of the ftnancial position of the Iharitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detertion of fraud and other irregularities. The followtn8 statements have been affirmed by each of the Go¥ernor5 of the charitable companv.. so far as each Governor is aware. there is no relevant audrf( information Ithat is, inlormation needed by the compan715 auditors in connection wilh Preparing their report) of which the companvs auditors are unaware.. and each Governor has taken all the steps that helshe oughi to have taken as a Governor In order to make himselflherself aware of any ielevant audit information and to establish that the companvs auditors are aware of that information. To facilitate thi5, the Governor5 rely on representations made by the Management of Parkside khogl. AUDITOR5 The Governors, report including the strategic report was approved and authorised for issue by the Board of Governors at its meeting on l December 2022 and signed on its behalf by.. Mr Robi Chairman
PARKSIDE SCHOOL TRUS[ AUDITORS REPORT FOR THE YEAR ENDED 31 AUGUST 2021 INDEPENDENT AUDITOWS REPORTTO THE MEMBERS AND TRUSTEES OF PARKSIDE SCHOOL TRUST Opinion We have audited thè financial statements o( Parkside School Trust Ithe'parent charitable companVI an¢J its Subsidiary (the 'group'l for the year ended 31 August 2022 which comprise the Group Statement of Financial Activities. the Group Summary Income and Expenditure Accovnt, the Group and Parent Charitable Company Balance Sheet5. the Group Cash Flow Staterneni and notes to the financial statements. inclutling significant accountinB policies. The financial reportingframeworkthat has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financi31 Reporting Starbdard Applicable in the UK and Republic of Ireland, Iunited Kin8dom Generally Accepted Accounting Practbcel. In our opinion the financial statements-. give a true and fairmew of the state of the group'sand the parent charitable company'5 affairs a5 at 31 Au8U5t 2022 and of the group's incoming resources and application of re50urce5. including its income and expenditure. for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prauice.. and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Art 2011. Basi5 for opinion We conducted our audit in accordantè wth Intemational Standards on Auditing IUKI IISAS IUKII and applicable law. Our re5pon5ibilitie5 vnder ihose standards are further described in the Auditorf5 Re5ponsibililies for the audit of the financial statements sertion of our report. We arè independent of the chariiable company in accordance with the ethical requirernents that are relevant io our audit of the financial ststements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and approprTrète to provtde 3 b3515 for our opinion. Conclu5ion5 relating to going concern In auditing the financial statements. we have concluded thai the tnjstees, use of the going concern basis of accountrng in the preparati¢M of the financial statements 95 appropriate. Based on the work we have performed. we have not identified any material uncertainties relati'ng to events or conditions that. individually or colleuively. may cast significant doubt on Ihe 8roup's and parent charitable company's ability to continue as a goin8 concern for a period of at least twelve months from when the finaftcial Statements are èuthorised for issue. Our responsibilities and the respons¢bilitie5 of the trustees with respect to Boing concern are described in the relevant section5 of this report.
PARKSIDE SCHOOL TRUST AUDITOR5 REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Other information The other information comprises the information included in the annual report. other than the financial statements and our audiiorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and. except to the eent othepwise explTrcitly stated in our report, we do not èxpress any fom of assuranre conclusion thereon. Our responsibility is to read rhe other informatTron and. in doing 50. consider whether the other information 15 materially inconsistent with ihe financial statements or our knowledge obtained in the course of the aLbdit or otherwise appears to be materially mi5Stated. If we identify such material inconsistencies or apparent material misstatements. we are reqtsired to determine whether there 15 a material misstaiement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in ihrs regard. Opinions on other matters presuibed bythe Companies Att 2¢X16 In our opinion. based on the work undertaken in the Coufse of the audit.. the information given in the trvstees. annual report for the financial year for which the financial statements are Pfepared is consistent with the financial 5tatements', and the trustees. annual report have been prepared in accordance with applicable le8al requirements. Matters on which we are requid to report by exteption In the light of the knowledge and understsnding of the group and pant charitable company and their environment Dbtained in the course of the audit. we have not identified material misstatements in the strategic report or thÈ trustees. annual report_ We have nothing to rÈpDrt in re5pert of the followin8 matters where the Companies Art 2CK)6 and the Charities Act 2011 require u5 to report to you if. ir7 our opinion= the parent charitable company has not kept adeqvate ond sufficient accounting records, or returns adequate for our audit have not been recei¥ed from branche5 not visited by us.. or the parent charitable companV5 financial statements are not in agreement with the accounting records and returns,. or tertain disclosures of trustees. remuneration specified by law are not made.. or we have not received all the information and explanations we require lor audit,. or the trustees were not entitled to pvepare the financial staternents in accordance with the small companies regime and take advantage of the small companies exemption in preparing the Trustees. Annual Report and from preparing a str3tegbC report.
PARKSIDE SCHOOL TRUST AUOITORS REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Responsibilities of trustees As explairbed more fully in the trustees. responsibilities statement. the trustees Iwho are also the direuors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being 5at15fied that they @ive a trLte and fair view, and for such iniern81 control 3$ the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financi31 statements. the trustees are responsiblefor assessing the group and parent charitable compan$ ability tg continue as a goingconcern. disclosin8. a5applicable, matters related to going concern and using the going concern basis of accountin8 un1È$5 the trustees either intend to liquidate thè group or parent charitable company or to cease operations, or have no realisti alternative but to do so_ Auditorfs Responsibifrties for thè audit of the financial ststements We have been appointed as auditor under the Companies Art 216 and sertion 151 of the Charities Act 2011 and report in acwrdance with those Acrs. Ourobjectives are to obtain reasonable assurance aboth whether thefinancial statements as a whole are free from matertal misstatement, whether dLre to fraud or error. and to r5sue an audltorfs report that includes our apinion. Reasonable assurance is a high level of a55urance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detecl a matersal misstatement when it exists. Mi1atements c4nari5e frgm fraudor errorand are considered material if. individually or in aggregate. they could reasonably be experted to influence the economic decisions of users taken on the basis ol these financial statements. As part of an audit in accordance wilh ISA5 IUKI we exercise professional judgement and maintain professional 5cepticism thwoughout the audit. We also". Identify and assess the risks of material misstatement of the financial statements. whether dve to fraud or error. design and perform audit procedures re5pon5ive to those risks. and obtain audit evidence that 15 sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material mi55tatement resulting from fraud is hgher than for one resulting from error, as fraud may involve collusion. for8ery, intentional orni5sions, misrepresentations, or the override gf internal control. Obtain ar¥ understanding of internal control relevant to the audit in order to design audit procedvres that are appropriate in the circumstances. but not fof ihe purposes of expressing an opinion on the effectiveness of the ¥roup and parent charitable tompahvs internal control. Evaluate the appropriatenes5 of accounting policies used and the reasonablene55 of accounting estimates and related disclosure5 made by the trustees.
PARKSIDE SCHOOL TRUST AUDITORS REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Conclude on the appropriateness of the trustees. use of the 80ing concern basis of accounting and. based on the audit evidence obtained. whether a material uncertainty exists related to events or conditions that may cast 518nificant doubt on ihe 8roup and parent charitable compan*s ability to continue as a going concern. If we conclude that a material uncertainty exists. we are required to draw attention in our auditorfs report to the related di5closure5 in the financial statements or, if such disclosures are inadequate. to modify our opinion. Our conclusion5 are based on the 3udit evidence obtained up to the date of our audilorfs report. However. future events or conditions may cause the group or pant charitable company to cease to continue as a going concern. Evaluate the overall preserbtation. Structure and content of the financial 5tatemertts, including the dis¢10sures. and whether the financial statements present the underlying transactions and events in a manner that achieves fair presentation. Obtain Sufficient appropriate audit evidence regardin8 the financial information of the entities or business artwities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction. supervision and performance of the group audit. We iemain solely responsible for our audit report. We communicate with those charged with govemance regarding. among other matters. the planned scope and tirning of the audit and 518nificant audit findings, induding any Significant deficiencies in internal control thai we identify during our audit. Explanation as to what extent the audit was considered capable of detecting Irregularities. in¢ludin8 fraud Irregularities, includiftg fraud, are instarbS of non-compliance with laws anil regulations. We design procedures in line with our responsibilities, outlined above, to detect materi31 misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. The objective5 of our ¥udit in respect of fraud, are. to identify and asse5S the risks of material misstatement of the financial stalernents due to fraud. to obtain sufficient appropriate audtt evidence regarding the assessed risk5 of mater¢al mi5StateTnent due to fraud, through designing and implementing appropriate responses to those assessed ri5k5- and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However. the primary responsibility for the pVentIon and detection of fraud rests with both management and those charged with governance of the charitable company. Our approach was as follows.. We obtained an understanding of the legal and regulatory requiTements applicable to the charitable company and considered that the most significont arethe Companies Act 2006.the Charities Act 2011. the Charity SORP. and UK financial reporting standards a5 issued by the Financial Reporting Council
PARKSIDE SCHOOL TRUST AUDITORS REPORT FOR THE YEAR ENOEO 31 AUGUST 2021 We obtained an understanding of how the tharitable Company complies with these requirements by discussions with management and those char8ed with governonce. We assessed the risk of material misstatement of the financk31 statements. including the risk of material misstatement due to fraud and how it might occur, by holding discussions wtth management and those charged wÈth governance. We inquired of management and those charged with governance a5 to any known instances of non-complian or suspected non-complian with laws and re8ulation5. Based on this understandin& we designed specific appropriate audit procedures tts identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governante and obtaining additional corroborative evidence a5 required. There are inherent limitations in the audr( procedure5 described above. We are less likely to be¢ome ware of instancesof non<ompliance with laws and regulations that are not closely related to events and transactiorbs reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud 15 higher than the risk of not detecting one resulting from error, as fratsd may involve deliberate concealment by, for example. forgery or intentional mi5repre5entatlOn5. or through collusion. ilse of our report This report 15 rnade sole to the charitable compan/s members, as è body, in accordance wtth Chapter 3 of Part 16 of the Companie5 Act 26 and. in respect of the consolidated financ¢al starements. to the charivstrustees. a5 a body. ina¢cordance with Chapter3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the Charitable company's members and tru5tee5 those matter5 which we are required io state to them in an auditorfs report and for no oiher purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company, the charitable tompanrfs member5. as a body. and the charitV5 trusttr5, as a body. for our audit work. for this report. or for the opinion we have formed. LL Neil Finlay50n Isenior Statutory Auditorl for and on behalf of Moore Kin85ton Smith LLP, Statutory Auditor Date". 6 Oecember 2022 9 Appold Street London EC2A 2AP Moore Kingston Smith LLP is eligible to act as auditor in terms of SeLtign 1212 of the Companies Act 2006.
PARKSIDE SCHOOL TRUST CONSOLIDATED STATEMENT OF FIIIANCIAL ACTMT.ES lincorporating the income and expenditure a¢¢ounti for the year ending 31 Au9USt 2022 Unrestricted Restricted funds funds 2022 Total" 2022 Total 2021 INCOME FROM: Lharilable A¢tivities Fees receivab$ Other income Other ¢radin9 activities Hire of school f-ÉS Bank tntefest Donation5 3,750.155 168.442 3,750,155 168.442 3.414.585 203,262 309.471 309.471 1.70,053 11,%9 7.703 19.672 291.077 T.otal Income 4.240.2J4 7.703 4.247.937 4,079.021 EXPENDITURE ON: Rai$ln9 funds finance costs 9.936 9.936 8.793 Charitable expenditure Scljcd cpeF8ting c4sls 4.095.445 4.095.44S 3,996,430 Total expendffture 4,105.381 4.105.381 4.5,223 Net income 134& 7.703 142,SS6 73,798 Net movèmonl in lunds for the year 134.853 7,703 142.556 73,798 FunLI baknte èt i Septemtér 2021 4.122.832 26,109 4.148.941 4.075.143 Fund balan¢es at 31 August 2022 4.257.685 4,148,941 The statent offinancial actNth"e5 alLgains gnd knssè5 in year and ther•1? a Statement of total ietogni5ed gain5 and k)sses ha5 not teen prepared. All ofthe abov2 aMniS reLqle townfy'nuiryacti¥iles Tlte accwnpanwng notes lorm ol Ifinala1 slaiements.
PARKSIDE SCHOOL TRUST BALANCE SHEET forth• year ending 31 August 2022 Group 2022 School 21r21 2022 2021 FIXED ASSErs Tangible assets Invtstment assets 10 4.551.496 4,319.468 4.5S1.496 4.319,468 4.$51.496 4.319.468 4551,497 4.319.469 CURRENT ASSETS Debtor5 Cash at bank andin haTrJ 12 870,909 816.860 IW7.769 615.026 955,223 1,770.249 807,302 786.296 1,593,598 495,206 1.481.791 CREDITORS.. Amounts falkng (hJe wilhin one year 13 1IA17.8B3) 11,822.WI 11.611.905) 11,645.7131 NET CURRENT IUABILmES)I ASSErs 130.114 130.114 52.115 TOTAL ASSETS LESS CURREI UABIUTIES 4A21.382 4.267.354 4.421.383 4.267.354 CREOITORS. Amount$ falling ¢JJe after more 14 1129.8851 1118,4131 {129,8851 1118,4131 ASS$ 4.291.497 4.148,941 4,291.498 4.748,941 FUNDS UNRESTRJCTEO FUNDS: General fund RESTRICTED FUNDS.. Old Boys Asscciaipjn Fund 1S 4,257,68S 4,122.632 4257.686 4,122.833 33.812 26,109 33,812 26.109 TOTAL FUNDS 4.291.497 4.148.941 4291,498 4 148.942 No separnte SOFA ha5 been Yeserd for th& ¢harty abne. as permitted by s8¢t 408 01 Companies Act 2fK6. The Sch¢5 for Jtar vas t4.247.937 12021.. £4.079.0211 arvj the SU?uS lor the year was £142.55612tr21.. £73.7981. Approved by the Board of GOverr$ Parksth Schcd Tru5fon for issue and signed on its tehaN by". 2022 aj aulPr IChaThanl C(¥npany number. Lts7817 The accompanying ne$ ftxm part of the fina31 sta#$.
PARKSIDE SCHOOL TRUST CASHFLOW STATEMENT for the ye¥f ending 31 A9$t 2022 2022 2021 NET CASH FLC>ws FROM OPERAnONS Net cash 0¥hyed tyopeiaiirvj actryit*S 17 341,479 502,497 CASH FLOWS FROM INVESTING ACTIVITIES PayY))ents for tangbye ftted assets Inveslment income aThJ bank nleresi receThed {470.102) 1144,84_11 44 N'el $b Used in in¥es(ir4J lMI 1469.9061 1144,79ri CASH FLOWS FROM FINANCING ACTMTIES Intere5l paid 19.936} 18.793} Net ¢ash vsed in financin9 xkn'vrties 19.936} 18.793) Change in cash and ¢a$h equivalents in the reportin9 period 138.363 348.907 Cash and cash equivalents at the beginning of the reportin9 period 955.223 316 Cash and.. cash equivalents at thg end ol the rgportin9 pèriod 81fj,880 955.223
PARKSIDE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENrs for the yr endipg 31 August 202Z 1 ACCOUNTING POLICIES The Parkside S¢ho)I IfiLSt is a c(npany iynited by guararlee and dr1 in England and Wales with giStered number 0867817. aNI chanty nLMnber 0312041 Its registered is The hfjanor. sfLe OAbernon. Cobham, Surtey. KTI1 3PX. 1.1 BASIS OF PREPARATION The Ianc 51alernenls h3¥e been fftred in wilh the Fina[181 Reporting Siand8rd appliGable in the UK and Republic ol Ireknd IFRS 1¢Y21. The Chantabk Cwpany is a public benefrt entrty for the purposes of FRS 102 and therefore the Charty a0 prepa its finarval slalements in acCorttan the Statement of Recrfflended PraCte aPrabl& 10 charities weparing their accounts in &CLYdance th Ihe Finartck81 Reportir¥J Stsndard ICab In ihe UK and Reptht of Irend (The FRS 102 Chari$ SORP). the C(#iTpanies Act 2CIX aTrJ Ihe Charit5 Acl 2011. The financial Slaements a prepared hi sterlng. t& Ihe lundrornal currenry ol the chanly. Monetary amtyJnlS ITh tkn statements are round&J to the neaR51 pound. These fina121 staterrents are prepared cfi ihe Ing ctwtem basis, under hthrical $t Convent)n a$ by the reYaluatN)n of w¢¥estrnent5 and in e(dan¢e wrth the cpante3 Act 2C(6 and appitable slantsrds in Ihe Unrted .lIn. The pcal acccxw)tln9 poIKies. ¥knich have been appl ConsistY througtsjrt the year, are 5etthJl behy. The accounts pSe ttY31j st4nent of a¢ti?Ab•s ISOFAI, ihe consolidated $h flow siatwnenl arrfl Ihe cons1al¢d ar¥J clwrty balW sheeis comprising corwh"datK)n of the a6YJ its oned subskliari8S. The Schoc4 has taken thantsgt d Ihe a¥b to a qttaltyin9 enlty in FRS 102 from the requ1ment to present a Chanty Cath Fbyw si&ement wth the Consdthted Finonr#al Slalements. 1.2 GOING CONCERN The trustee5 have assessed whethef the use ol gThn9 1>)rryn assumptKin 15 apPrOprL in pparing these finwKial statemenls. The trustees have mJJe ihk8 assessmenl in respect tg a per of e ar from the date of appKoval ofthe5e fuorKo15tatements. The s¢hoJl is dependent on students apptying 10 rt and on parents to the¥ fees. Long te fore5n9 of student number5 ts drfficul trrtjt ¢Mtinues to raise Ihe wolile of the xhool and to mwnlain and enhance relatthships wilh parent5. feeder s¢lwls nurserEs and destinal schoofs. In makin9 lh assessment the w4effrf)rs have acctyjnt of the impact.of the general economt en1r¢YMen1. pauLYrIY infiatKsn on student nurnber5 and costs. planrd capital eXpendrtU and exlern hnance fae&liis Ihat are aw in pLace. Based this the govemors havè Concl ttwi there are no m•erpl uncertaintS Tetsted to everts ef condlths that may casi 5ignificont doubl on Ihe ablty of Ihe 5th{ to ¢ts"nue as a 901ry cor¢cern. As such the SEboo¢ can exped to be aljle to meet its ithfitw as theyl*l due in the wod ofat leasl 12 months from the dale ol apprTrdal of these Trts. On Ihi5 basis the Goverrw ha¥rè lUjed that the sChts concem. The financol sktefnenls tlo not ¥KIle any adjustments that re5uk the Schrnl not able to meel its tsabilitse5 a5 tlw fay due.
PARKSIDE SCHOOL TRUST NOTESTOTHE FINANCIAL STATEMElffS lor the yèar ending 31 August 2022 1.3 COMPANY LIMITED BY GUARANTEE The charrtabk npaThY 15 limbted by guarantee. In the et of the ehwrtabk cNnpany being wcwnd up the h8bilty in re5Fert of the guarantee 15 Imited lo £1 per mber ol the Chathy. 1.4 INCOME RECOGNITION l incorniTrJ resour a included in Slatement of F¥@TraI Acti¥itS ISOFAI when the Chity is iegalty erntit to Ihe income after any r)erform8nce o)nditwJn5 hwe t)een rneL Ihe amount can be measured liaband probk that ir¢rme wll be eNed. Interest on ld$ hehj on dep)srt is induded when I1¥able and the can be [sre rdiably by the Charty. lh is rKJrmalty tif¢in of irttet pauy or payalje by the Ba. SchcKJl Fees are reco)ne£l7lth ir¢ome when thty tme due. Fees a Charged on a lemly basis. Fees raised in advance a deferred unil the Scfv)I tecunes entrt to the funds. In acxordance th the Charils SORP IFRS 102). 11 general vdunteer time ol ihè Fiierhts is noi recognised. Refer lo Truslees. ieport fty mL¥e Informat aboth their contribthion. Income tax recrab ¢0 donatmy) receibEd urthr Gift Ahl or deeds of covenant is recognised at the t•7)e ol donabon. 1.5 DONATIONS Oonatws recaved for Ihe genwal purposes ol th8 SC1K are chjded a5 unre5trKled lun(Ss. OonatK>ns re51ricted by tl we5 of the ¢knor or the lerms of an appeal are iaken to reslricled funds. 1.6 EXPENDITURE AN Expenditure is acccwnte(I for on an accruab ba$ and has been da5srfd under headings that aggregaie all Msts reLated to the caiegw. Expendrture is reccgntsed where there i8 a legal or constructive oblyaipJn lo make payments to Ihird parttes. it 1$ probab Ihai the settlement will be fequired and the amount of the obligation can be measured relthty Ex11 i% categoti5ed Ufmler Expendrfure on chwitable acs. whKh IrKIeS al cost5 incurred on lurthering obj'ects ol the Charity. Support C051s a tIK>5e costs irUrred directty of eXF¢ndttu w the cbjecls of the Charity and ¢nclude prqect Manag7t carrJ out at Ihe Scl¥x4. Chari18ble actNitvès and GOVernar costs are costs Itr the Chantys educatiL¥wI eperattons, including supwt Costs and costs Lab"ng io the govemance costs incurred on the Charity'¥ educatK)nal cperab.LS. StsPFYt $15 relab.ng to govemar£e of the Charity 4)port)ned to charitable active$. Rentals under cperaling aSe$ a charged on a sira¥Jht-line basis over the temi of ihe ase. even if the payments are r[de on such a basis Benefrts receNed and receNable as an InntiVe to sign OFeralry ka5e are simhwty 5pre•J a strawJht-hne ba ¢)ver Ihe kne term. 1.7 FUND ACCOUNTING There are unrestrtted funds which are availab for use at dTScretion of Ihe trustees in fUrtherar of Ihe general objeaNe5 of Ihe charty Deggnated funds are UnStn¢led fijnds earmarked by the 9ovemors for partLI1 poSes. Resifthd fund5 a SLtbpcted to re51rriicJn5 theii expendure irnrAKd by the doncK.
PARKSIOE SGHOOL TRUS7 NOTES TO THE FINANCIAL STATEMENTS for thè y¢ar •ndin9 31 Augllst 2022 1.8 FIXEO ASSETS ANO DEPRECIATION AN fixed assets are used w th.r1 furthetarts of th& schrrfs ot4"rves. Fixe(J assets are inckJ(Jed in these fInats1 slatenwts al Ihar ongmwl Cosi depreciation and actJJmulated impairment losses provhY•d lo date. Depreciat50n Is Prov on aw Iwibk fixed assets, other than freel J•nd. at rates calculaled to wrtle OW the costs kss estimed resMYuaY value of exh asset. by equal annual Instalrnents, over their expec usefvl INes are slere[l io .. Freehold property 2% Fe¥ annum a straight fine basis Property IPrOveMents 2% 10 2trh PeraThn a 5trw9ht line basis Mcknr Vehiclè5 25% per anThJm on a strawjht line bas Fumiture, Filling5 and lo 33.3% w annurn on a strayaht h.ne basis Equipment Sport5 Surfxe IT Equipmenl Car Pa 10% w an on a sttswjht bas 33.3% Fer annum on a slrawjhl line basLs IO% w annthm on a stra•Jhl ITh ba 1.10. PENSIONS-. The sch1 0 pays inlo 8 defird Se rts -leaChing staff run by Scotth and a defined contthtx scheme ts teachig stalf run by Legal & Gerval. The charity exited Ihe Texhers. Pensh)n ClefirA Benerts Scheme as at 31st Auwst %21. Prxx year ¢OntrknultsS for leachmg staff Ere therefL¥e pa th a the Te¥hws PeThsion Weme. a defined benefrt pension scheme. 1.11 INVESTMENTS The chanty has eouty inslment Parksth Trading Ccffjpwy valLod at the c05t the shwes. 1.12 CASH AND CASH EQUIVALENTS Cash and cash equNarents indje cash in haThJ. dwits t at cal iih banks. cther short.term investmenis Vlilh oryinal rnaiun(ies of the Mth$ less. 1.13 FINANCJAL INSTRUMENTS The cPallY ha5 eed to appty thè of Seaw 11 '8ast Financkal Instrurnents, and Secbon 12'01her Financial Instruments Issues. of FRS 102 10 an of it$ fina181 instruments FInarla1 instsumenis are recojntsed in Ihe c¢ynpanY5 baLance s1 when Ihe wnpany bec(me5 party to the contractual pro¥isJns of the instNrnent. Financwl assets and 14bilbt¢$ areoffsel. iLh the net amounts Kwesenled in Ihe finarrial 5¢atements. when Ihere 15 a enfofceabè Trght to sel off the reccqnised amounts aThJ there s an intenim to settle a riet l>#sis (r to realk%e Ihe asset sethe the liabthty sKn4ttsneously. With the excepkns of wepayrnnts •ThJ defer incc¥ne 4 rAher debtor aTrJ creditor bntss are )5rf1ered lo be bax fmar¢d ¥?s1rLUn FRS 102. S8e notes 12. 13 and 14 for the debtLY and credrtow nt4trS. 1.14 TAXATION The School is a regisiefed chiy $ ex t<at as afforded by SeciTh 505 ICTA 198B. 1.15 EMPLOYEE BENEFITS Th8 costs of5t-lem? empbfft benefts a rwnised 85 a lbdty ar¥J an exper*e.
PARKSIDE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMeNTS lor Ihe yearending 31 August 2022 1.16 STOCK Stock IS valued al of cost WKI nel liSable.¥81ue. after makirg (lue alk1•rCe for rt1s0te and slow mo¥iTha items. 1.17 VAT The Schod is not re#tred for Vakje Added Tax. AM èxpeTrJiture is thÈrtr int1led in ihe txpensè headings vthrh it relate$. indusi%e cl anyvalue Athjed Tax. 2 KEY ESTIMATES & JUDGEMENTS In Ihe applicats)n ol Ihe company5 accounliThJ e$, the Board ts rvIre 10 make jwJgements, eslThates aTrJ assumpbons aboul the carrwrrfj amount of assets and liabilits that readily apparent from other sources. The estsmates al assLXk4ted a5SUrnPtions are baseé on histor1 expefience and cther lac1cS that are consbjered to be reknnt. Actual re5uI5 may drffer frun these estimates. The estThmales and undety'ry a5sumptA)ns revkn¥eil on an orwThJ basi8. RevtsmS to xcounting estimates are reco3n15ed in the per in whKh the estimate wtsed. rf the affect5 onlythat perKJ. or in the per of the re)n futu perts rf the rethsvJn affects l)th ¢(wren¢ and fUre pericxJ5. In the opink)n of the Boar(S of Go¥em(xs. Ihe e5bmates aThY as5vmptions whrh have 8 signrfunt risk of causing a maierial adsustmeni to the carrwng YunI ol assets and "abilbIS ouuined bek)w. Useful eOrn INes The annual ¢JeWeCkA charyje for kvopety. plant aKI equixnenl ts seTh$itNe lo changes in Ihe estirnaled useful eConC lives and reshlual valves of the ats. The v5eful ecomrnic lives antj res81 vdues a ra$se$Se annually. They are amended wtheTh necessary to refled ¢uNent estimates. based on technOF0gr advancernent, ftrturè inve5trnenls, econL¥n uti1i5alD and the physiral condrtKm ol the assets. ReGoveraOle value oflee debtors The cornpany make5 an estirnate of the recoverabte value of tradè and ether dtbtots. When assessing inpaimienl of trade and other debtors. rnanagement cons#Jers factcrfs incluL1ing the Cuffent credit rating of the debtor. the agery profile of deblor5 aTrJ h1s1or1 eXPere. S* ncie 15 for the net carrying nount of the debtots and assocrdled Impaimiert prwswjn.
PARKSIDE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS for th¢ ygar ending 31 August 2012 2022 To¢al 2021 SCHOOL FEES Th• S¢hoots' fee in¢ome eomprised: GfOSS fees Less.. Total txsoaries. asssted pl•xs and aknances 3.942,478 1192.323) 3.654.862 1240.2771 Totsl 3.750,155 3.414,565 202Z T.i)tsl OTHER INCOhlE Other incom?: Registralh?n fee5 and depJ5it5 Puplls disbursements anrtsyndries Other 17.093 8.698 28.405 166,159. 111.253 Total 168.442 203.262 2022 Total 2021 Total OTHER TRADING ACTMTIES Other trndin4 odivities: Hire of school f%lt*S PrLperty Kental Tradirrfj in¢cme 70.6 238.399 64.940 105.11J Total 309.471 170.053 Z022 Tolal 2021 INVESTMENT INCOME Investment income: Irieres¢ receed on bank depog Total 196 GRANTS AND tXWATIONS 2022 Total 2021 Donations: FerNsK1e Trust IreslrKted luTrJs> Other Old 8¢)ys AssttBlbJn members Fee>lresirthd fvndsl Parents of Partts Government FurfoWI stheme Total 3.493 13,298 11.969 10,183 255,203 291,077 19.672
PARKSIDE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS lor the year ending 31 August 2022 EXPENDITURE Total 2022 Staff costs Iseo not• 91 Costs of generating funds= Finance & other costs 9,936 9.936 9.936 Charftats expendlture: Publicty Te8chin9 Wewa Premises School surptr( costs 74.393 12.158 284.114 628.073 180.081 18.617 1,287.436 1.297.3n 74.393 2,078.584. 377.255 1.093.542 453.054 18.617 4.095.445 4.105.381 1.2.691 93.141 241.129 272.973 13,735 224.340 2.569.934 2.569.934 238.075 238.075 Total Total 2021 Slaff eosts Other costs Depreciatign Costs of generating funds: Finan and other costs 8.793 8.793 8.793 Charttable expenditure: Publiety TeachiThJ Welfare Premises SchoJl suppurt Cts Govemance costs 75.176 118.292 203.614 649,849 212.475 22.276 1.281.682 75.176 2,162,550 275.200 1,001,C62 4eQ.166 22.276 3.9%.430 2.OJ).523 71,586 185,515 247.691 13.735 165,698 2.535.315 179.433 Total 2,535.315 1,290.475 179.433 4.005.223 Gernarnce expeThjkn inciu¢Jes." Total 2022 Total 2021 Auditorfs remuneratS0n'. Audrt fees- SchoDI Audrt fees- sub%dk?ry Underlloverl provisw f¢y prtrf yew 10.947 3.340 {390) 1,320 15.217 14.276 3.340 13901 1,320 18,546
PARKSIOE SCHOOL TRUST 140TES TO THE FINANCIAL STATEMENTS for the y•at •rtding 31 August 2022 STAFF COSTS Total 2022 Total 2021 Total staff eosts e4)mprfsed.. W4es and sala Swal securit$ ctssts Defined 8enefrt Pens conlribulthxs Defined Contn"bUti Pens)n CclbU1xJn5 Qth8r staff eosts 1029.763 199.122 1.994,426 183.503 259.443 57.601 40.343 284.623 56.426 2.569.934 2.535,315 The 8¥era9e Mclhfy wmberof empwes duringthe ywas as [k¥S.. 2022 No. 2021 No. Teachi Non ièxhing 49 63 The rlumber of pnpk)yees IKme$ amnJ to 04 £60.((JO in thè year vras as folkyws". 2022 2021 Nc No £ 70.C#J1- £ 80.000 £ 90,001- t 100,OCQ Key managemenl personnel irtt the Go¥emors aTrJ tl senhy exeeuli¥es ¥e. made up of the head. the buTrar ar the senfry leadsh team. Agsreg employ benefits G4 k rnawement ptrrsonne 237.690 224,461 Dunng the year £nil (2021. £16.1401 pad tem11 payThents. Olher staff c051s repvesent cosl of arfverttsry f stsff. costs and'legal lees pertaining to employment &Yv. No memter5 of the Boa ol G¢)vern rwed remuneratJn cf NbUrS)ents of expenses the urrenl oi preceding year.
PARKSIDE SCHOOL TRUST NOTES ro THE FINANCIAL STATEMENTS forthe year endin9 31 August 2022 STAFF COSTS Icontinuedl PENSION SCHEIAES The St)01 partwated in the Teacher5. Penwn kheme fihe TPSi for rts teaching staff unb"131st AU$l 2021 when the S(hcKJl vKth¢lreAf fron the srteme. peNSn charge for the year inclL4le5 eontributK)ns payable to the TPS ol £nil12021. £259.4431 at tt trEarend £nil12021 . £29.3861 accrued ITh respecl of contrJU(lon5 to Ihis scheme. The TPS is an unfunded muttiempb>Er defi terrtS penswJ7 scheme govemed by The Teachers. Pensions Reguktw)n$ 20101as arnendedl al The Teachers. Pensi Scheme Regulatti?n$ 2014 las arnendedl. mem[5 COntrLIte on a 'pay as you go. wmh contnbutions from membets and the empk)yer being Cfedited to the Exchequw. Rthfement ar other pension benefit5 are paid by public lunds prcMdd by Parftam•nt Thè employer cortnbthion rate set by the Secretary ol Slate fol9 scheme valuatw)ns undertaken by the Governmenl Actuarfs Departrnent. The mctst recent xtuarial valuation of the TPS was prepared as at 31 March 2016 and the Valvatioft Report. whi¢h publishe(l in March 2020. confimied ihat the employer conlrJutson rale for the TPS )Uld ireaSe from 16.4% 10 23.6% from 1 September 2020. Empbyets are also required to pay a xhwne administrat1 le¥y of 0.08% gNing a total empbyer corthbution rate of23.6. The 31 March 2016 Valuat)n Report was prepared in wrdance vrth the befI5 set out in th• scheme re9uW)ns and Under the approach Spthed in Ihe DI110n$. as they apPld at 5 March 2020. Hts¥ever, the assumptK)ns b%Ere consbjered and set by the Oepartrnent for Edvcati)n plr to the rulir¥J in the'McCbur9eanl ¢ase'. This case has requir&J the courts lo consKJer cases regarding the IMpMen1atTh ol the 2015 fOrni$ lo PU1C ServKe Pensn$ induding the Teacbers. Pensions. On 27 June 2020 the Supreme Ccojrt den1 tht govemment permvJsk)n to appeal fv Cwrt ofAppeal's judgment Ihat trans(LKJnal prowsws introcluced lo the lo[me pension schernes In 2015 gave rise ¢0 unlawful age distNnlnaiiL. The govemment ts ting the Court's decision and has said rt will engage fvlty wlh the Empkwent Tritwnal as well as ernpbyer aTrJ rnernber represenlatNes lo agree the dts¢riminat#xs be remedd. A ton5uatM)n was launched by the govemment on 16 Ju 2021, and cS)sed to responses on 11 Odcthr 2021. The TPS 15 Subject to a cost cap mechanism was put in place to prolecl taxpayers a9ain51 foreseen Changes in scheme costs. The Chief Setary to the Treastsry. hwng in 2019 anntyjnced that therè be a ol lh cosi cap rne¢hantsm. in January 2020 announced a pause lo the cost cap mechanign f¢YINiry the C(rt of Appeal's ruliThJ in Ihe Mccloudlsaryeanl case and until the is certainty about the value of pens¥Jns to empk)yees Irom April 2015 onvards. The pause was lrf¢ed in July 2021 aThJ the government is pparing cte tlp cost ntr menl of the 2016 valuatiCfi5. exrted lo be ¢pleted in 2021. The sthocA no•J operaies MceY purchase Grtyjp Personal Pensft Scheme. one for teaching staff and one non4eachin9 Staff. contrt are made to Scthsh Wthws on behaM of non-tea¢hing staff and Legal and General OTh tehaw of thIng Staff. Total COntritrtIOTh$ made 10 the hyo Personal Pension Schemes during the year £284.62312021 - to the one scheme £57.6011. Contributths to these schemes a charged to the slatemenl of finan¢o1 %tMts as they fall due. The total pension contribvtJn5 whKh were slrfl ¢JJistanding 85 at the ypar eThJ were £nil12021." £4,384).
PARKSIDE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS lor the year endirtg 31 August 2022 10 TANGIBLE FIXEO ASSErs Frnghold 8uiltlrn9s & ImprovennlS Group & School Motor Vehicles Other Car Park Total CostNaluabon A$ at 1 Seplemter 2021 Disp)saLs in Addrth)ns In year 5.773.114 157.350 1.484.177 1101.7331 461.603 514.936 7,929.S77 1101.7331 470.102 8.499 As at 3f August 2022 S.773.114 165".849 1.844,047 514.936 8297,946 Depreclation As at 1 September2021 Disposa15 in ye Charge for year 2.Tr37.599 127.364 1,177.287 {101,7331 97,66S 273.859 3.610.IOg 1101,7331 238,074 %.658 13.2S7 30,294 A5 at 31 August 2022 2.134257 134.621 1.173.419 3.746 450 Net book value As at 31 August 2022 3,638.857 31.228 670,628 210.783 4,551.496 As at 31 AU$l 2W21 3.735.515 X6.89) 241.077 4.319.468 A fixej and Ibatin9 char9e on the IreelK4J pr£ty has been grwN&Y the bank as wurity for ihe over<lraft ¢acilrti2s. 11 UNUSTEDINVESTMEMTS Group 2022 GrP 2(r22 Sch¢)ol 2021 Sch1 2021 Interest in $ubsKliary urtdertn The school ¢x7)$ 100% of Partsth sch( Tra(SiTrJ Company rnIted. regtered ¢n EngL & Wa185 number 09441239 whith provkles refil lac4rtts to ktal G4her groups. 11$ tsxable profrts are distributed under 9rft aHI to Ihe xhcd. It$ trading Ul1$. extrgJ frcffl it5 audrted ." 2021 Tum Cost ol saks 238.399 51.W7 105.113 33.854 Gross A{Imtratn 186.492 3.655 71.259 4'.(M)S OperabThJ profrt Gift d15trubon to s¢htr 182.837 67.254 1B2.93 Nd Pfofrt Taxalx Retair*d prorrfi for the y•ar
PARKSIDE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS lor the year ending 31 August 2022 11 UNLISTED INVESTMENTS IContiTruedl BALANCE SHEEr 2021 Debtors Cash at bank CredrfÉors N•t ass•ts 17.671 321.654 205.976 133.349 83,997 168.927 252.923 Share caprt 12 DEBTORS Group 2022 Group S¢hool 2022 School 2021 Outstsnding fees Prepayments and accrued irwT Othei debtors 728.388 113,407 11.214 870.909 7ce.555 98.643 7.828 815.026 728.388 9S.736 11.214 986.585 708,555 90,919 7.828 807,302 13 CREOITORS: due wilhin onè year Group 2022 GriNJp 2021 School 2022 School 2021 Cred card Tfade ciedilcxs Fees Received In AdYanc• Accruals an4 Sundry Credrtors FeeDep05rt5 PAYE & NIC Al Purchase other creditor5 Deferre(I Income lrntercompany 9.352 85.526 1.282.81XI 201.071 12.600 5.741 82,221 1203.325 181.178 8.1C 43. 9.352 85.526 1,262,800 195,095 12.600 5.741 82.221 1,203,325 173.556 8,100 43,9S3 5.508 29,386 17.640 76,273 29.386 2S2,941 221.326 21,326 1817 883 1.822,363 1.611,907 1.64S.713 Delerred Incom Deferred income relate5 to OBA lunds. tAdth'ng dew" 5 and a IeTh$e Jreenl recaved in advance for use in futu Ferd$ Group 2022 GP School 2022 Scho)I 2021 Balancès as at 1 September Amount kaSed lo irKorne Amount delerred J*ar 262.941 {60,5401 305.31KI 163.7(M)I 21.341 17.640 117,6401 20.800 120.8001 17,6dO BaLqn¢es as al 31 August 221.326 262.941 21.326 17.640
PARKSIDE SCHOOL TRUST NOTES ro THE FINANCIAL STATEMENTS fcir tho year endin9 31 August 2022 14 CREDITORS.. due after one y Gffjup 2022 GrP School 2022 Sc 2021 Purth8$¢ F& dep)srts 8.721 14.229 104.184 118.413 8.721 14,229 104.184 118.413 129.885 129.885 SCfrK)oL FEE DEPOSITS 2021 2020 11600 17,900 103.264 133,764 8,100 13.Cl)O 91.184 112.284 Amounts due 1 - 2 swrs. Am(Krts due2- 5 Yea.. HIRE PURCHASE 2021 2020 Due wthin the r Am(yJnts 1 _ 2 seaTr.' AmvJrrts due 2- 5 sears: 5,508 3.213 14,229 8,721 19,737
PARKSIDE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 August 2022 15 STATEMENT OF FUNDS GROUP September 2021 At 31 August 2022 Ir¢L¥ne Ex[vltUre Unre51i¢te(I funds:. General feseNe Restricted funds". Old Boy5 Associati Fund F&nside TntSI 4.122.832 4240.234 (4.105.381) 4.257,686 22.618 3.493 29,916 3.896 403 Tctsl lur 4.148.941 4.247.937 {4,105.3811 4.291,497 Sq)iember 2020 At 31 August 2021 E¥ppDJrtuie Vnrestrth(I funds". Geneml reseNe Restricied funds.. Oky Boys Associatk?n FUNJ Femsxle Trust 4.061.427 4.C66.628 {4,005.2231 4.122.832 13.716 22,616 3,493 3.493 Tctsl funds 4.075.143 4.079.021 {4.CQ5.2231 4,148,941 SCHOOL Al 31 August 2022 2¢rd1 Incrme EypeThJilure Unrestricted fvThJs". General fes8rve Restncted lunds.. (JL1 Boys AssocIan FUNI Fern5hde TIu51 4.122.833 4240.234 14.105.381) 4.257,686 22,616 3.493 29.916 3,896 403 Total f1w$ 4,148.942 4,247,937 14.105.3811 4,291.498 Septber 2020 At 31 August 2021 Expendrture Unrestsicled ftmds.. General reser Restricted furnls." Old Boys A5Xr1an FuThJ Fernside Trust 4.IA1.428 4.C68.628 14.00S.2231 4.122,833 13.716 22,616 3.493 3,493 Totsl fuTrd5 4.075.144 4.079.021 14.(KSS.2231 4.148,942
PARKSIDE SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS for the year ending 31 August 2022 16 AL YSIS OF NET ASSETS 8ETweEN FUNOS Gtoup 2022 Group 20Z1 School 2022 SC01 2021 Tangl f4xgJ assds InvesentS Current assets Crnt habiIrts Lon9 term li&lils 4551,496 4.284.876 4A51,496 4.284.876 1.687,769 1.770.249 11,817,883) 11.822,3631 129,885 118.413 1.481,791 11.611,9051 129.885 1.593,598 {1.645.7131 118.413 Total net assats 4.114.346 4391.498 4.114,348 The restrKted funds of £33.812 12021. £26.1091 are h&1 in rt assets. The strIctl funds represenl a of £29.916 12021." £22,616) rdating £] Oh1 Boy4 Ass(Kwtion lrfetime mernbership that pupls pay 1Th1rrfJ the sclKd. The anLwnts current pupiL8 who joi1 pre 1st September 2019 are caffled a5 cwrent Ik?knfilies wthin the accouNts. Amounts received arter this date are recogni5ed on recEpt as Ihe MetshIp fee 6 N) IotvJer ¢y refundabk The amounts receNed frcffi p pupils ar8 rcgntsed as irttrme and hekl ftJnOs The OKI B A5sociati(xi uses mffty lo furnl apprcpriate pfqects within s¢W. The 15 curwentjy no planned expenditu The remaining balance of the restrted fiJnd$ of £3.89S 12020" £3.4931 represents afntyjnts donated lo Ihe'Femstsle Trust. tluring Ihe year has been brtyjghl %%ithin the SCI1. The amounts are held to fund the fees of m S tern or Or hwdshp i55ue5. TE& $5 cuirenty glanned expenditure There v4a5 £3.500 of Inccffje recth3ni5ed in $trted lund$ dunrKJ the ar donated by PcNRrpl Cricket Limited whKh was used to fund crke1 nets in with the twm$ of the donat)n. Tlwe have been rnatctted against ex otherwthin expendrfv. 17 RECONCILIATIOII OF NET IP4COMING RESOURCES TO NET CASH INFLOW FROM OPERATIONS 2022 2021 142.555 238,075 155.8831 6.992 11961 9.936 73.79B J79.433 12.897 227,620 1441 8,793. Depcl8tKJTh charges Dec$(nCreasej m deb In¢a$e1((Je¢leasel in credf(ors Bank int•rest re¢ewed Bank INrest pa¥J 341.479 502.497 18 RELATED PARTY TRANSAcTNs Duriry IITe year. the sch1 chaig&J f32.295 12021: £24.0251 lo ParkSe Sch¢JY Tradiry Company Limited for Ihe FY?vt5n of s¢ho¢l premses and staff. ParksKle scho Ttyng C(npany Limited made gfft a*Y to scho dunng the yw of £182.837 12ff21. £67.2541. Tts was owed £151.247 12021". £76.273 ¢ywed tol by the Tr•Jiw Ccthpany 31 August 2022.