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2020-08-31-accounts

Charity No: 312044 Company No: 00770891

KINGSWOOD HOUSE SCHOOL TRUST LIMITED

ANNUAL REPORT

FOR THE YEAR ENDED 31[ST] AUGUST 2020

KINGSWOOD HOUSE SCHOOL TRUST LIMITED

COMPANY INFORMATION

Directors:

The directors of the company who are also the charity trustees and the governors of the school are as follows:

C. C. Shipley (Chairman)

R.H. Austen Mrs V.I. Bacon Mrs J.H. Bourne Dr H. Bowen-Perkins R.L. Clarke Mrs L.S. Culm R.J. Evans R. Johnstone G. Kent A.G. Law A.R. Matthews

D. Murphy

Headmaster: D. Murphy Company Number: 770891 Charity Number: 312044 Registered Office 56 West Hill and Principal Address: Epsom Surrey KT19 8LG Website www.kingswoodhouse.org Guarantors The company is limited by guarantee and does not have a share capital. All governors are guarantors of the company to the extent of £1 each. Statutory Auditor Braidwood Wheeler & Co Chartered Certified Accountants Goodman House 13a West Street Reigate Surrey RH2 9BL Bankers: National Westminster Bank plc 115 High Street Epsom Surrey KT19 8DX

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31[ST] AUGUST 2020

INTRODUCTION

The Board of Governors (who are trustees for the purpose of charity law and directors for the purposes of company law) present their annual report for the year ended 31[st] August 2020 prepared under the regulations of the Companies Act 2006, the Charities Act 2011, together with the audited financial statements for the year and confirm that the latter comply with the requirements of the Companies Act 2006 and the company’s memorandum and articles of association and the Charities SORP, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS102).

The report of the governors includes the information required to be disclosed under company law in the directors’ report.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The School was founded in 1899 and became a charitable trust in 1963. It is governed by its memorandum and articles of association.

Governing Body

Governors are elected at a meeting of the board of governors and all new governors are invited to become members of the charitable company. Careful consideration is given to the appointment of governors and individuals are approached where there is a need for particular skills. All key areas of responsibility are adequately covered by the existing board of governors.

Governors

All governors give of their time freely and no remuneration or expenses were paid in the year. No governor or person connected with a governor received any benefit from either means tested bursaries or scholarships awarded to any pupils.

Governors training

New governors are well briefed about the school and its procedures and policies. A detailed induction process is in place and includes a file containing all relevant aspects of the school (such as the prospectus, memorandum and articles, and the latest inspection report), together with the AGBIS handbook and training details. Governors visit the school during the term to gain an understanding of teaching methods. They also attend seminars and training events when appropriate to keep up to date about governance, safeguarding and other developments.

Organisational Management

The governors determine the strategic policy of the school and review its overall management and control for which they are legally responsible. The full governing body meets at least once a term and more often if required. In addition, the Finance, Health, Safety and Welfare, Marketing, Academic and Pastoral sub-committees meet termly and report back to the main governing body. The day to day management of the School is delegated to the Head who is well supported by other members of the senior leadership team.

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

REPORT OF THE GOVERNORS

(continued)

Pay Policy for Senior Staff

The Head, Bursar and senior teaching staff comprise the key management personnel of the school. Remuneration of the Head and Bursar is reviewed annually in accordance with their contracts of employment, and is benchmarked against schools of similar size in the locality.

Remuneration of senior teaching staff is reviewed annually and benchmarked against national scale rates for teaching staff of equivalent experience, seniority and responsibility.

Risk Management

The board of governors is responsible for the management of risks faced by the school. The risk register and policy is reviewed by a sub-committee of governors and senior school staff, who report annually to the board of governors. Risks are identified, assessed and controls applied throughout the year.

Principal Activity

The principal activity of the charity continues to be the provision of a preparatory school for boys up to the age of 16+ with education and pastoral care of the highest possible calibre.

OUR AIMS

Kingswood House is committed to safeguarding and promoting the welfare of children:

Kingswood House aims to:

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

REPORT OF THE GOVERNORS

(continued)

OUR OBJECTIVES

Our objectives are set to reflect our educational aims and the ethos of the school. It is important to us that we maintain and enhance the academic success of the school. This objective is, however, set in the context of the broader goals we set for the school and its pupils.

In setting our objectives and planning our activities our governors have given careful consideration to the charity commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education and on fee-charging.

Our key objectives for the year include:

OUR ETHOS, STRATEGY AND POLICIES

Strategy

Our governors are responsible for setting a strategy for achieving the objectives they have set. The focus of our strategy is to create and maintain a secure and friendly environment where pupils are happy and well-motivated to learn from the wide range of opportunities presented to them. With an individual approach for each pupil, the objective is to maximise their academic potential and other abilities, develop self-discipline, social awareness and self-esteem.

The strategy for achieving these aims is the provision of small class sizes from the earliest stage, staffed by high quality teachers with support from a wide range of in-house specialists in learning development, with access to the most appropriate facilities undertaken within a broad and challenging curriculum.

In taking forward our strategy we also plan to:

Our ethos: a caring school serving our local community and society

Kingswood House School is a charitable trust which seeks to benefit the public through the pursuit of its stated aims. Our fees are set at a level to ensure the financial viability of our school and at a level that is consistent with our aim of providing a first-class education for all our pupils.

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

REPORT OF THE GOVERNORS

(continued)

Our school welcomes pupils from all backgrounds. To admit a prospective pupil, we need to be satisfied that our school will be able to educate and develop a prospective pupil to the best of their potential and in line with the general standards achieved by their peers. Entrance interviews and assessments are undertaken to satisfy ourselves and parents that potential pupils can cope with the pace of learning and benefit from the education we provide. An individual’s economic status, ethnicity, race, religion or disability do not form part of our assessment processes.

We are an equal opportunity organisation and are committed to a working environment that is free from any form of discrimination on the grounds of colour, race, ethnicity, religion, sex, sexual orientation or disability. We will make reasonable adjustments to meet the needs of staff or pupils who are or become disabled.

Our school is committed to safeguarding and promoting the welfare of our pupils and expects all staff and volunteers to share this commitment.

Access policy

It is important to us that access to the education we offer is not restricted to those who can afford our fees. We believe our pupils benefit from learning within a diverse community. A great deal of learning occurs through social interaction, conversation and shared experiences which helps our pupils develop an understanding of the perspectives of other people that will be vital in their adult lives. Our bursary policy contributes to a widening of access to the education we offer and the facilities we enjoy. We are also hoping to establish more teaching links with local state schools .

Bursary policy

The Governors view our bursary awards as important in helping to ensure children from families who would otherwise not be able to afford the fees can access the education we offer. Our bursary awards are available to all who meet our general entry requirements and are made solely on the basis of parental means or to relieve hardship where a pupil’s education and future prospects would otherwise be at risk, for example, in the case of redundancy. In assessing means we take a number of factors into consideration including family income, investments and savings and family circumstances for example dependant relatives and the number of siblings. However, the School does not have any endowment or bursary funds so the awards have to be met out of current income. In funding them we have to be mindful of ensuring a balance between fee-paying parents, many of whom make considerable personal sacrifices to fund their child’s education, and those benefiting from the awards. In the past year we have provided financial help to 82 pupils in the School by way of scholarships, bursaries and sibling discounts.

Details of the bursaries available can be found on the website.

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

REPORT OF THE GOVERNORS

(continued)

REVIEW OF ACHIEVEMENTS FOR THE YEAR

Operational Performance

Despite the Covid-19 pandemic the School has continued to operate throughout the year, due to exceptional efforts by all staff and the continued support of parents. The academic results were strong, pupil numbers grew throughout the year and there continues to be an encouraging level of interest and enquiry from potential parents. The governors unanimously agreed in June 2020 for the School to move towards co-education in September 2021. This decision was prompted by market research which indicated a lack of similar schools with our holistic and SEN provision in the vicinity.

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REPORT OF THE GOVERNORS

(continued)

FINANCIAL REVIEW AND RESULTS FOR THE YEAR

Fundraising

Fundraising for the school was organised mainly by current parents of the school. The Kingswood House Association is run by a hard-working committee of parents who continue to arrange social events for parents and pupils and fundraise for the benefit of the pupils, which includes sporting equipment and maintenance of the School van. The Governors are extremely grateful for the energetic and enthusiastic activities of these parents whose efforts add significantly to the facilities in the School.

Investment Performance

Surplus funds are kept in suitable interest-bearing accounts, with £1,658 (2019: £1,719) being received in interest during the year.

The results for the year show income from tuition fees of £3,071,203 (2019: £2,869,213) and a net profit of £150,549 (2019: deficit - £8,309). This gives a surplus to carry forward of £2,061,765 of which £2,006,466 (2019: £1,859,108) is in the General fund and £55,299 (2019: £52,108) is in the Development fund. The results for the year were after including approved exceptional expenditure of £75,636 for various premises related expenses (2019: £22,545).

Scholarships, bursaries and discounts totalled £459,553 (2019: £322,998) of which bursaries and scholarships amounted to £327,238 (2019: £285,812) and discounts £37,199 (2019: £37,186). The School offered an additional 10% discount for the summer term (from savings due to school closure) amounting to £95,116. The Bursary scheme is available for pupils whose parents are having financial difficulty and each case is assessed separately giving particular attention to the benefits of the child. Scholarships are given to exceptional students and are awarded to pupils in Years 3, 5, 7 and 9, both external and internal, following successful completion of the Scholarship exam.

THE RESERVES POLICY

The policy of the Governors is to maintain adequate free reserves by means of appropriate financial management consistent with the development and improvement of the resources of the School.

The level of reserves is reviewed at least annually.

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

REPORT OF THE GOVERNORS

(continued)

CORONAVIRUS OUTBREAK

As a result of the Covid-19 pandemic, the Government closed all schools in England on Friday 20[th] March 2020. On Monday 1[st] June 2020 there was a partial relaxation of the closure and the school re-opened for children in years 1 and 6. For all other pupils, the school has provided online learning. Parental support has been excellent, with over 85% of the summer term fees having been paid by 1[st] June 2020 and with the required term’s notice to leave at the end of term having been received in respect of just 4 pupils. In 2020/2021 the school has budgeted for planned expenditure in excess of £200,000 on improvements to buildings and facilities, but there are no contractual commitments in respect of such improvements. If necessary, all or part of such expenditure can be cancelled or postponed to support the cash needs of the school. The Governors remain confident of the continued long-term viability of the school.

COMMUNITY RELATIONS AND CHARITABLE DONATIONS

During the year many charities approach us to support their needs. It is our policy to support charities that work with children, whenever we can. Our main fundraising comes from our “House Days”. The boys in each House put forward and speak to their peers and staff members about charities that they felt passionate about and the House vote on one they would like to support. They organised a fun day with activities and games at lunch time. Last academic year we supported the NSCPP and Great Ormond Street Hospital.

In addition to House Days, we supported various other charities throughout the year:

Young Minds – Mental Health Awareness Day

They endeavour to fight for children and young people’s mental health. They want to see a world where every young person who is struggling feels able to reach out and has people and services around them who can really help.

Rainbow Trust – Maths Challenge

There are an estimated 86,625 children in England with life-limiting or life-threatening conditions. This number has trebled over the last 17 years and is rising. Thousands of families have to face the very real possibility that their child may die and struggle to cope on a day to day basis. Our Family Support Workers provide a lifeline to these families and children. We support the whole family including parents, carers, the unwell child, brothers, sisters and grandparents. Support is hugely varied and depends on the needs of the family.

Macmillan – Staff Coffee Morning

Since Douglas Macmillan founded the charity in 1911, they have grown to be the UK’s leading source of cancer support, helping more and more people living with cancer.

Save the Children – Christmas Jumper Day

In the UK and around the world we make sure children are safe and healthy. Save the Children support them to learn, grow and become who they want to be. They lead the way on tackling problems like pneumonia, hunger and protecting children in war, while making sure each child’s unique needs are cared for. They find new ways to reach children who need us most, no matter where they’re growing up.

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REPORT OF THE GOVERNORS

(continued)

If u care share – Inside out day

This charity reaches some of the most vulnerable people in our society to support them at a time of need. They are here to save lives, support communities and prevent suicide.

Barnabas Fund – Stride

The main ministry of Barnabas Fund is to send financial support to projects which help Christians where they suffer discrimination, oppression and persecution as a consequence of their faith. The projects aim to strengthen Christian individuals, churches and their communities by providing material and spiritual support in response to needs identified by local Christian leaders.

Unfortunately, due to the pandemic, we were unable to support as many charities as we would have liked.

PUBLIC BENEFIT

The Governors have complied with the duty required by the Charities Act 2011 with regard to the public benefit guidance published by the Charities Commission.

As an important part of the school’s functions we audit on an annual basis the public benefit provided by our school Although constricted this year by Covid-19, we achieved the following:

  1. During the school year from September 2019 to August 2020 we educated 226 children.

  2. The standards of our education are reviewed against national benchmarks and our education exceeds those benchmarks.

  3. The school has a special interest in educating children with special educational needs, including dyslexia, speech and language difficulties and gifted children, and is recognised as providing tuition in this area, which is excellent by national standards. We educated 19 children in the year who have an Education and Health Care Plan, 10 of whom have their school fees paid for by the relevant County Council. We are a member of The National Association of Gifted Children and are registered with Crested (Council for the Registration of schools teaching dyslexic pupils).

  4. As a matter of policy, we provide access to our education to children from less affluent backgrounds. In the past year we have provided financial help to 82 pupils in the school, at a cost of £459,993, which includes other discounts of £37,199. The School offered an additional 10% discount for the summer term (from savings due to school closure) amounting to £95,116. Bursaries amount to 6.68% of the total fee income.

  5. We ran holiday activity courses for 6 weeks during the year for our pupils, their family, friends and neighbours.

  6. We share sports and other facilities with local schools and members of the general public.

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

  1. We have a good relationship with local groups/clubs/schools who allow us the use of their facilities.

REPORT OF THE GOVERNORS (continued)

  1. We contribute to the local community in a variety of ways:

  2. Produce from our annual Harvest Festival is given to Age Concern.

  3. We invite our local vicar to assemblies and she kindly allows us to use the church to hold our Carol Service, Harvest Festival and other end of term services and assemblies.

  4. We invite local residents for a coffee morning each year.

  5. A local business helps us with minibus training.

  6. We have formed links with a school in Lungi, Sierra Leone, and donate furniture, equipment, books and donated money raised by the pupils in the House Days.

  7. We support a variety of local charities by raising money in House Days.

  8. The pupils attend a multi-agency Child Safety event at the Epsom Grandstand annually.

  9. Our PSHE Programme brings in the members of the community.

  10. We hold an annual Sixth Form Evening to which local colleges are invited.

  11. We run INSET courses (staff training) with other local schools.

  12. Pupils explore the local community as part of their field work studies.

  13. We host a ‘mini-Olympics’ for local Pre-Prep state schools.

  14. We lend our driver and minibus to local state schools and a scout group to enable them to take the children on outings and sporting events.

  15. We hold a special ‘Open Day’ especially for Grandparents.

  16. The Governors play a pro-active part in the daily life of the school.

  17. We accept and monitor students from local schools doing work experience.

  18. We accept placements from local universities for students on teaching degree courses and allow students to observe teaching prior to completing teacher training.

  19. We accept placements for students to complete an independent PGCE from Buckingham University.

FUTURE PLANS

The key objective is to maintain the aims and objectives of the School as mentioned above, to equip every child, regardless of learning style, with the skills he/she needs to fulfil their potential, academically and otherwise. A future strategic consideration is whether or not to reopen a Reception Class to deliver a clear point of entry into Lower Prep.

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

REPORT OF THE GOVERNORS

(continued)

GOVERNORS’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The governors are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The purpose of this statement is to distinguish the governors’ responsibilities for the accounts from those of the auditors as stated in their report.

Company law requires the governors to prepare financial statements for each financial year. Under company law the governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the governors are required to:

The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable 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 detection of fraud and other irregularities.

The Governors are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

PROVISION OF INFORMATION TO AUDITOR

Each of the persons who are governors at the time when this governors’ report is approved has confirmed that:

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

REPORT OF THE GOVERNORS

(continued)

AUDITORS

In preparing this report the Governors have taken advantage of the small companies’ exemptions provided by s.415A of the Companies Act 2006

This Report was approved by the Board of Governors on 23[rd] April 2021 and signed on their behalf by:

Signed_____

C C Shipley Chairman

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

REPORT OF THE INDEPENDENT AUDITORS’ TO THE MEMBERS OF KINGSWOOD HOUSE SCHOOL TRUST LIMITED FOR THE YEAR ENDED 31[ST] AUGUST 2020

Opinion

We have audited the financial statements of Kingswood House School Trust Limited for the year ended 31[st] August 2020 which comprise the Statement of Financial Activities, the Income and Expenditure account, the Balance Sheet, the Statement of Cash Flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements 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 appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) which require us to report to you where:

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

REPORT OF THE INDEPENDENT AUDITORS’ TO THE MEMBERS OF KINGSWOOD HOUSE SCHOOL TRUST LIMITED FOR THE YEAR ENDED 31[ST] AUGUST 2020 (continued)

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The Governors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Governors’ Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

REPORT OF THE INDEPENDENT AUDITORS’ TO THE MEMBERS OF KINGSWOOD HOUSE SCHOOL TRUST LIMITED FOR THE YEAR ENDED 31[ST] AUGUST 2020 (continued)

Responsibilities of the Governors

As explained more fully in the Governors’ Responsibilities Statement set out on page 13, the Governors (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such internal control as 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 financial statements, the Governors are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company of to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

David Wheeler FCCA (Senior Statutory Auditor) For and on behalf of: Braidwood Wheeler & Co Statutory Auditor and Chartered Certified Accountants Goodman House 13a West Street Reigate Surrey RH2 9BL

Date: 26[th] April 2021

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31[ST] AUGUST 2020

Year to 31st August 2020 2019
Unrestricted Restricted Total Total
Notes funds funds funds funds
£ £ £ £
INCOME
Donations 14,513 3,191 17,704 4,296
Income from charitable activities
Tuition fees 3,071,203 - 3,071,203 2,869,213
Other income 2 149,399
 - 149,399 99,563
Bank interest 1,658 - 1,658 1,719
———— ——— ———— ————
Total Income 3,236,773 3,191 3,239,964 2,974,791
———— ——— ———— ————
EXPENDITURE
Expenditure on charitable activities
Teaching 1,927,628 - 1,927,628 1,824,711
Catering 150,253 - 150,253 165,096
Premises 547,358 - 547,358 590,728
Support 451,635 - 451,635 471,136
———— ———  
3 3,076,874 - 3,076,874 3,051,671
———— ———  
Governance costs 5 12,541 -
12,541		 16,085
———— ——— ——— ———
Total Expenditure 3,089,415 - 3,089,415 3,067,756
———— ——— ———— ————
Net gain/(loss) and net movement in 147,358 3,191 150,549 (92,965)
funds for the year
RECONCILIATION OF FUNDS
Total funds brought forward 1,859,108 52,108 1,911,216 2,004,181
———— ———— ———— ————
Total funds carried forward 2,006,466 52,299 2,061,765 1,911,216

The notes on pages 21 to 26 form an integral part of these Accounts

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

BALANCE SHEET AS AT 31ST AUGUST 2020
Company no 770891
Notes
2020
FIXED ASSETS
£
Leasehold improvements
6
2,060,699
————
CURRENT ASSETS
Debtors
7
211,190
Cash at bank and in hand
894,018
————
Total current assets
1,105,208
CURRENT LIABILITIES:
Creditors falling due within one year
8
547,982
————
NET CURRENT ASSETS
557,226
TOTAL ASSETS LESS CURRENT LIABILITIES2,167,325
Creditors: Amounts falling due after one year9555,560
—
TOTAL NET ASSETS
2,061,765
THE FUNDS OF THE CHARITY
General Fund - unrestricted
2,006,466
Development Fund - restricted
55,299
—

TOTAL CHARITY FUNDS 11
2,061,765
 2019
£
2,176,302
————
142,981
776,125
————
919,106
625,254
————
293,852
2,470,154
558,938
—
1,911,216
1,859,108
52,108

1,911,216

The governors consider that the charitable company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 (“the Act”) and members have not required the charitable company to obtain an audit for the year in question in accordance with section 476 of the Act. However, an audit is required in accordance with Section 144 of the Charities Act 2011.

The governors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31[st] August 2020 and of its net resources expended for the year in accordance with the requirements of section 394 and 395 of the Act and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charitable company.

The financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies’ regime within Part 15 of the Companies Act 2006.

The financial statements were approved by the Governors on 23[rd] April 2021 and signed on their behalf by:

C. C Shipley (Governor)

The notes on pages 21 to 26 form an integral part of these Accounts

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31[ST] AUGUST 2020

Reconciliation of movement in funds to net cash flow from operating activities

Net movement in funds for the year
Add: depreciation
Deduct: interest received
Decrease (Increase) in debtors
(Decrease)/Increase in creditors
Cash used in operating activities
Cashflows from investing activities
Interest income
Purchase of fixed assets
Cash used in investing activities
Cash flows from financing activities
Draw down of bank loan and long-term fees
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward		 2020
£
150,549
133,492
(1,658)
(68,209)
(77,273)
136,901
1,658
(17,289)
15,631
(3,377)
117,893
776,125
894,018		 2019
£
(92,965)
151,839
(1,719)
7,360
(44,676)
19,839
1,719
(122,747)
(121,028)
358,937
257,748
518,377
776,125

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] AUGUST 2020

STATUTORY INFORMATION

Kingswood House School Trust Limited is a charitable company limited by guarantee, registered in England and Wales. The charitable company’s registration number is 770891, and the registered office is at 56 West Hill, Epsom, Surrey, KT19 8LF.

The charitable company is a public benefit entity as determined under FRS102.

1. ACCOUNTING POLICIES

1.1 Basis of Accounting

The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice, Accounting and reporting by Charities in accordance with Financial Reporting Standards applicable in the UK (FRS102) and the Companies Act 2006. They include the results of the School’s operations which are described in the governors’ report and all of which are continuing. 1.2 Fee income

Fees consist of charges for the year to parents for tuition and lunches, less bursaries, scholarships and allowances. Where fees are invoiced in advance for a future period, these are shown in creditors.

1.3 Donations

Donations are recognised when they are received.

1.4 Expenditure

Expenditure is accrued as soon as a liability is considered probable. Certain expenditure is apportioned to cost categories based on the estimated amount attributed to the activity in the year. The irrecoverable amount of VAT is included with the item of expenditure.

Support costs comprise a proportion of staff costs together with a proportion of the overheads for the school. Governance costs are those incurred in connection with the governance of the school and the compliance with constitutional and statutory requirements.

1.5 Tangible fixed assets and depreciation

The policy for equipment is to write off the expenditure as incurred as it is the opinion of the Governors that it has no residual value. The previous long-term improvements to the leasehold premises are depreciated at the following rates:

Improvements to the leasehold premises – 5% on cost

1.6 Fee debtors

Fee debtors represent fees invoiced for the year, which remain unpaid as at the year end, and do not include fees outstanding for a future period although they may have been invoiced before the year end, but remain unpaid at that date.

1.7 Pensions

During the year, the school contributed to the Teachers’ Pensions Agency Superannuation Scheme, a defined benefit scheme, for its teaching staff. The contributions are paid into a centrally administered fund and are currently calculated using the following percentages of gross salary – employer’s contributions 23.6%. The employees’ contributions are tiered with the lowest contributions being 7.4% and the highest 11.7%.

The school provides a stakeholder scheme for non-teaching staff, for those wishing to join it and the employer’s contributions are subject to a maximum contribution rate of 5% of salary.

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] AUGUST 2020

1.8 Reserves

The School’s current policy is to increase its general reserves so as to build up a fund for future developments and facilities.

2. OTHER INCOME OTHER INCOME 2020 2019
£ £
Furlough receipts 96,925 -
Sundry income 52,474 99,563
———— ————
£149,399 £99,563
———— ————
3. DIRECT CHARITABLE EXPENDITURE
Operating
Lease 2020
Staff Costs Other Depreciation Payments Total 2019
£ £ £ £ £ £
Teaching 1,704,161 223,467 - - 1,927,628 1,824,711
Catering 86,827 63,426 - - 150,253 165,096
Premises 27,717 261,396 133,492 124,754 547,359 590,727
Support 244,355 181,585 - 25,694 451,634 471,137
———— ——— ——— ——— ———— ————
£2,063,060 £729,874 £133,492 £150,448 £3,076,874 £3,051,671
———— ——— ——— ——— ———— ————

4. STAFF COSTS include:
4. STAFF COSTS include: 2020 2019
£ £
Wages and salaries 1,650,985 1,576,656
Social Security costs 145,433 137,968
Teachers’ pension contributions 246,876 171,683
Stakeholder pension costs 12,121 12,978
Severance pay - 18,672
Health Insurance 7,735 11,050
———— ————
£2,063,060 £1,929,007
———— ————
The average number of full and part time employees in the year was:
Teaching 53 56
Domestic 8 8
Premises 1 1
Administration 9 9

One employee received emoluments of £90,000 - £100,000 (2019: one employee received emoluments £80,000 - £90,000).

The aggregate remuneration for key management personnel paid during the year was £426,434 (2019: £404,788).

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] AUGUST 2020

(continued)

5.
GOVERNANCE COSTS
Auditors remuneration
for audit
for other services
Professional fees
6.
FIXED ASSETS
Leasehold improvements
Study
Centre
£
Cost
At 1.9.19
192,288
Additions
-
At 31.8.20
192,288
Depreciation
At 1.9.19
192,288
Charge for the year
-
At 31.8.20
192,288
Net book value
At 31.8.20
-
At 31.8.19
-
7.
DEBTORS
Fee debtors
Prepayments and
accrued income		 Teaching
Blocks &
Lab
£
2,590,208
17,289
2,607,497
471,481
130,110
601,591
2,005,906
2,118,727		 2020
£
5,580
-
6,961
———
12,541
———
Car park
and Field
£
67,625
-
67,625
10,050
3,382
13,432
54,193
57,575		 2019
£
5,120
480
10,485
———
16,085
———
2020
Total
£
2,850,121
17,289
2,867,410
673,819
133,491
807,311
2,060,099
2,176,302
2020
£
75,852
135,338
211,190		 2019
Total
£
2,727,372
122,749
2,850,121
521,980
151,839
673,819
2,176,302
2,205,392
2019
£
63,795
79,186
142,981

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] AUGUST 2020

(continued)

8.
CREDITORS:AMOUNTS FALLING
DUE WITHIN ONE YEAR
2020
£
Bank loan
Fee deposits
29,118
16,200
Fees paid in advance
307,008
Trade creditors
85,097
Accruals
110,559
547,982
.
BANK LOANS
The Company has a loan with the following summarised terms:
Remaining
Interest
Loan
Total
term of
rate
repayments
amount of
loan
payable per in next year
loan drawn
annum
at 31 August
2020
£
£
Senior school loan 13 years
2.6%
51,005
476,327		 2019
£
21,363
32,400
362,986
20,378
188,127
625,524
Total
amount of
loan drawn
at 31 August
2019
£
478,638

9. BANK LOANS

The rate of interest payable on the loan will be a fixed rate (2.6% per annum) until the review date which is 10 years after the date the loan is borrowed. The rate of interest payable on the loan from the “review date” will be based on the base rate plus 2.8% per annum. The bank loan is secured on the assets of the charitable company.

10.
CREDITORS:AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR
Bank loan
Fee deposits		 2019

£

447,210

108,350

555,560
 2018
£
478,638
80,300
558,938

11. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund balances at 31[st] August 2020 are represented by:

Fixed assets
Current assets
Current liabilities
Creditors due after one year		 Unrestricted
funds
£
2,060,099
1,049,909
(547,982)
(555,560)
2,006,466		 Restricted
funds
£
-
55,299
-
-
55,299		 Total
funds
£
2,060,099
1,105,208
(547,982)
(555,560)
2,061,765

The Company is a charitable trust and its income is exempt from corporation tax.

12. TAXATION

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] AUGUST 2020

(continued)

13. OTHER COMMITMENTS

At 31[st] August 2020 the company had total future commitments under non-cancellable operating leases as follows.


Expiry date:
Within 1 year
Between 2 – 5 years		 Land & Buildings
Other
170,000
45,927
340,000
97,179

14. TEACHERS’ PENSION SCHEME

During the year the School participated in the Teachers' Pension Scheme (England and Wales) ("the TPS") for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £246,876 (2019: £171,385) and at the year-end £nil (2019: £nil) was accrued in respect of contributions into the scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by the Teachers' Pensions Regulations 2010 as amended and, from 1[st] April 2014, the Teachers' Pension Scheme Regulations 2014. Members contribute on a "pay as you go" basis with contributions from members and the employer being credited to Government funding resources. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department.

The most recent actuarial valuation undertaken by the Government Actuary’s Department as at 31[st] March 2016 determined that employer contribution rates would increase with effect from 1 September 2019. H M Treasury published final findings in April 2019 which confirmed that the employer contribution rate for the TPS would increase to 23.68% per annum for relevant salaries inclusive of the administration levy, with effect from 1 September 2019.

As a post-year end note, the School left the TPS on 1[st] September 2020.

The School also offers a scheme for its non-teaching staff, which is a defined contributions scheme. The School’s contributions to the scheme during the year were £12,120 (2019: £13,276).

15. RELATED PARTY TRANSACTIONS

There were no related party transactions during the year that require disclosure, except for the payment of £12,000 to Raymond Clarke Associates for professional services, where the principal is a governor of the school.

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] AUGUST 2020

(continued)

16. RESTRICTED FUNDS

Donations continued for the development foundation. The purpose of the foundation is to provide funds for additional developments in the school, particularly to enable a sports hall and a swimming pool to be built in the future.

17. LEGAL STATUS

The trust is a charitable company limited by guarantee incorporated in England and Wales, and has no share capital. The liability of each member in the event of winding-up is limited to £1.

18. LEASE PAYMENTS

Payments of £170,000 (2019: £179,725) were made during the year in relation to the rental of the school buildings and £25,694 (2019: £29,966) for the lease of the school minibus .

19. GOVERNORS REMUNERATION AND EXPENSES

The governors give their time freely and have not claimed any expenses during the year

20. APB ETHICAL STANDARD – PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other organisations of a similar size and nature we use our auditors to assist with the preparation of the financial statements.

21. CORONAVIRUS OUTBREAK AND GOING CONCERN

As a result of the Covid-19 pandemic, the Government closed all schools in England on Friday 20[th] March 2020. On Monday 1[st] June 2020 there was a partial relaxation of the closure and the school re-opened for children in years 1 and 6, and for all other pupils, the school has provided online learning. The indications are that pupil numbers will be maintained for the coming year.

The Governors have carried out projections for the forthcoming 12 months and beyond, which allows for flexibility in the timing of the major capital project expenditure in order that the school’s cashflows can be managed carefully. They are satisfied that the school will be able to manage its cash resources and will continue to operate as a going concern.

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31[ST] AUGUST 2020

2020 2019
INCOME £ £
FEE CHARGES
General tuition including lunches 3,298,765 2,963,816
Support fees 231,991 228,395
Less: Scholarships bursaries & discounts (459,553) (322,998)
———— ————
3,071,203 2,869,213
———— ————
OTHER INCOME
Extras, Entrance fees and sundry income 40,926 54,241
Activities weeks 8,731 39,916
LDU rent 2,816 5,406
Other income 96,925 -
——— ———
149,399 99,563
——— ———
INTEREST RECEIVED
Bank interest 1,658 1,719
——— ———
DONATIONS
KHA: 9,142 3,971
General 5,370 50
——— ———
14,513 4,021
——— ———
TOTAL INCOME 3,236,773 2,974,516
 
EXPENSES
TEACHING COSTS
Teachers’ salaries and NIC 1,248,779 1,162,304
Severance pay - 18,672
LSA support 189,316 184,277
Support costs 640 3,974
Activities Weeks: salaries 10,815 23,626
Teachers’ Pension Scheme 246,876 171,385
Other Pension Scheme - 299
Health insurance 7,735 11,050
Text books and teaching aids 116,190 104,443
Staff training 17,617 26,875
Sports, prizes & rent of pitches 8,177 19,225
IT – maintenance and consumables 81,484 98,581
———— ————
1,927,628 1,824,711
———— ————
CATERING
Provisions 63,426 83,600
Catering wages 86,827 81,496
——— ———
150,253 165,096
———— ————

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KINGSWOOD HOUSE SCHOOL TRUST LIMITED

DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31[ST] AUGUST 2020 ( CONTINUED )

2020 2019
£ £
PREMISES
Rent 124,754 198,772
Rates 26,918 20,108
Repairs and maintenance 30,064 48,587
Household maintenance 28,150 28,280
Groundsman’s wages 27,717 27,504
Insurance 36,630 29,588
Cleaning 34,904 36,193
Light and heat 24,867 25,159
Major refurbishments 79,864 24,698
Depreciation 133,492 151,839
——— ———
547,358 590,728
——— ———
SUPPORT COSTS
Office salaries 204,030 213,050
Stakeholder pensions 12,120 12,978
Stationery and photocopying 32,745 35,181
Telephone and postage 13,126 10,881
Sundry expenses 6,235 7,686
Subscriptions 20,348 22,202
Advertising and recruitment 16,540 8,522
Hospitality expenses 9,819 9,508
Motor expenses 12,853 14,990
Minibus lease – contract hire 25,694 29,966
Minibus – driver’s wages 19,652 18,356
Speech day and carol service expenses 1,166 1,932
Marketing 14,049 14,122
Accountancy 13,125 25,366
School inspection 1,947 1,252
Bad debts 19,763 15,731
School prospectus 3,518 1,477
Bank charges 2,187 3,142
Document storage and security (213) 1,430
Bank loan interest 23,201 23,364
——— ———
451,635 471,136
 
GOVERNANCE COSTS
Auditors remuneration 5,580 5,600
Professional fees 6,961 10,485
——— ———
12,541 16,085
——— ———
TOTAL EXPENSES 3,089,415 3,067,756
———— ————
PROFIT/(DEFICIT) FOR THE GENERAL FUND 147,358 (93,240)
DEVELOPMENT APPEAL (RESTRICTED FUND)
Donations 3,191 275
——— ———
TOTAL PROFIT/(DEFICIT) FOR THE YEAR 150,549 (92,965)
——— ———

27