Registered number: 00485947
Charty number: 312057
TORMEAD LIMITED
(A Company Limited by Guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
"AAJYQ17M*
18112r2021
COMPANIES HIXJSE
A17
#23

TORMEAO LIMITED
IA Company Limited by Guarantee)
CONTENTS
Page
Reference and Administrative tktails of the Company. its Trustees and Advisers
Trustees. Report
Trustees. Responsibilities Statement
Independent Audltor's Report on the Financial Statements
Statement of Financial Activiti
3-17
18
19-22
23
Statament of Fina￿la1 Position
24-25
Statemént of Cash Flows
26
Notes to the Financial Statements
27-43

TORMEAD UMITEO
IA Company Limiled by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2021
Trustees
R Harris BA ACA. Chair
A L Cullum BA PGCE NPQH+
S A Geary"
M Howse LL8"
R J Jewkes B Eng FIE Aust.
Drc M Kissin MB Ch8 MRCP FRCR+'
Prof G Miller Bsc Msc Pho PGCE+
S G Newnes-smith ACA"
P J O'Keefe RIBA MCIOB MIMgt'
A R C Spender 8Sc FIA+
J C Walkins FCA+
J M Wicks BA" {Resigned 9 Oe¢ember 20201
' Members ofthe Finance & General Purposes Crynmittee
+ Members of the Academic Committee
+ Designated Safeguarding Govemor
Company regÉstered
number
00485947
Charity registered
number
312057
Registered office
Tom)ead
Cranley Road
Guildford
Surrey
GU1 2JD
Bursar
Miss H DaNies MA (Oxon) MBA (resigned 31 August 20211
Mrs Stella L&¥lon CSBM INCTLI laFpointed 1 August 2021)
Head
D 80sYl MA (Oxon) MBA
Independent audltor
Nexia Smith & Williamson
Chartered Accountants
Stalulory Audrtor5
Onslow House
Onslow Slieet
Guildford
GU14TL
Bankers
Lws Bank pk
Connaught House
Alexandra Terrace
Guildford
GU1 3DA
Page 1

TORMEAD UMITED
{A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
Solicitors
Farrer & Co
66 Lincoln's Inn Fields
London
WC2A 3LH
Page 2

TORMEAD UMITED
IA Company Limited by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2021
OBJECTS, AIMS AND ACTIVITIES
Objects
The School was founded in 1￿5 and rts d)jects. as set wt in rts goveming documertl. are the advancement of
education Ihrough the prowsion of a School or schools for girls and boys_ Tormead School is the operatlng name
of Tormead Limile<l. 11 is a ¢harity established as a company limi(ed by guar8nlee. registration fiu[T￿)er 485947.
11 is the policy of the School to attain the hwJhest a¢ademi¢ levels as well as provKJing an extra-curricular
programme that aims to help devekjp a life-bng love of ￿aMIng and a desire to contribute to the community. It
looks also lo prepare the girls for life at universty and beyond in a changing wodd. The School provides
education in Guildford for girfs ft¢yn the ages 014 10 18. The scho￿ has no endowment income and therefore
makes a proportion of gross fee income availab￿ to promde fee assistance lo pupils who would not otherwise be
able lo join or remain al the Schocl.
Our aims
We are commilled lo prowding an exeelent. all round education in a wami. stimulating and supportive
environment. Our v81ues are-.
. We t￿at everyone with ￿Spect and dKJnty
. We deliver academic excellence
. We enrich through a broad and varied cunrculum
. We celebrate effort and achievement
We bring out the best in our gsds
. We prepare our girls for life beyond school
Ethos
Tomead School Is a Charrtab￿ trust which seeks to benefrt the public through Ihe pursuit of rts aims. Our fees
are set at a level to ensure the financial v7abilrty of the school and that is a150 consistent with providing a first-
class education.
Tomiead Schod is committed to safeguarding and proriKAing t￿ we￿are of our pupils and expects all staff to
share this commitment. In all we do. we strive to keep our pupils safe and appropriately provided for. and this
was confimed by our most re¢ent ISI Compliance inspection {May 20171 in which the school met all the
requirements of the Independent School Standard RegUlat￿n$. in¢luding those that ielate to safeguarding. The
ISI Educational Quality Inspedion (May 20171 fvrther noted that 'pupils behave in an exemplary way and have a
strong sense of moralrty,. 'pupils have a strong S￿al awareness and a sense of respect for all members of the
school communiti arKI'pupils at the school are Wel￿roUn¢jed, seK-confident and art￿late young p¥)￿..
The School was SU￿.ect lo a Compliance Inspection by the Independent Schcols, Inspectorate in November
2021 and expects the ieport lo be published in December 2021.
Page 3

TORMEAD UMITED
IA Company Limited by Guarantee)
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
O&JECTS. AIMS AND ACTIVITIES Icontlnuedl
Objectives for the year
Our obje¢tives are sel lo reflect our edu¢alKy)al aims and the ethos of the School. In setting our objectives and
planning our activilies the Trustees have given rareful consideration to the Charity Commission's general
guidants on public benefit and in partujlar to rts supplementary guidance on advancing educ*ion and on fee-
charging.
Objectives for the year. and strategies for obiecti¥e4 were:
Prepare girls. wrthln a supportlve envlronment. to meet today's ehallenges
The year began in a most unusual way. wrth restrictions on year groups rrmxing physicalfy. and limited access
lo certain a￿a$ of the sch￿1. The complex plan for schcol re-opening 8fter the lockdown, in the Spring and
Summer terms. caled for reassurance and time. To that end. several retum404chool guides were produced
in advance of pupils retuming in September and when we dwj start back, il was as a phased beginning, ￿th
each year group being given dedicated time for half a day to a¢climatise back to school. On those half days,
pupils were spoken to by pastoral staff about how ihey might expect to feel, ha￿ng been away from schcol
for seven months an¢J wh* support was in place to help them.
Assemblies remained virtual and the concept of year group bubbles meant thal exfra4urricular dubs that
involved mixing ages of pupils could not tske pl&e. However, from day one, sport iesumed, as did music
lessons and very quickly. Tormead was offering a comprehensive eXtra-￿m¢Ular prc•Jramme for each year
group-
As Year 7 could not enjoy their usual bonding weekend at PGL in September, we arranged for a company
that specialised in ouldoor eduealion to run a day of activrties at the Umfiekl for Year 7.
House meetings atKI events suffered heavity from the bubble system, bul despite this we maintained virtual
meetings and found clever ways lo IK4d compehtions. The first of the year. House Drama, was filmed and
then edrted togelher so that different ages of pupils ￿￿Id interact to produce a final piece. These were then
aired lo the school at the end of the first haff lemi. Our team of pupil House Captains and stsff Heads of
House created inventive means to keep House spirit and charity events continuing throughout this disrupted
year. One of the highlights was the celebration of Wotld Menlal Healih Day in which yellow clothing became
uniform for the day. In the sumrner term we bolstered the traditional House Sports Day by taking over Surrey
Sports Park for House football. netball. njgby and ho¢key tovmaments.
As we entered a second national Icckdown and reacted to news that public exams were to be cancelled, the
school moved to a virtual VerS￿n of the tiMetsb￿ wlh Iwe vKleo lessons. This induded tutor and assembly
slots as well as virtual Offi￿ hours 'dr¢w in. sessions wrth Heads of Year. to support pupils maintain pastoral
links vth staff and each other. Our eourtseNing service also moved lo a virtual settirTg for those that wished
lo cary on with that form of support.
In the Spring Term, our community resFonded lo the intensity of computer use and online leaming wrth a
TOm￿ad Time Out day in which pupils and staff went offline to produce Gre*ive projects which were then
showcased to the rest of the school in an online assembly at the end of the day. This in¢lu¢Jed cooking.
creating music, singing 8 50ng, comp05ing a poem or completing a phy5Kal activrty.
PSHE talks and the Horrzons Speaker Programme continuwj albeit ￿rt￿alty, including talks on online safety,
and 8 host ol inspiring and th)ught-provoking indiwduals speaking aboul a variety of topics.
The School Council's activities began in eamesl towards the latter part of the year with a Call from students
to expand the remit of the council towards more 5peaalisl areas of sch￿1 life. Sub-¢ommittees for food, the
environment. diversrty and equalty. were esL*slished and met for the first lime In the Summer temi of 2021.
Page 4

TORAIEAD LIMITED
IA Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
OBJECTS, AIMS AND ACTIVITIES (continued)
The Head and members of the Sixth Fomi learn mel wrth representatives of the Sixth Fom and some Year
11 pupils, to discuss the impact of 'Everyone's Invited, and how Tomiead might better support pupils in this
area. This was folk￿ed by an assembly al the end of the Spring lemi in which the Head addressed the
whole school community on actions that had agreed in consultation wrth pupils, and that the School was
here to supw)rt any pupil who had suffered sexual Molence or harassment.
In the Spring term pupils requested permission lo establish a LGBTQIA+ socth and this was approved. Al a
launch charty event in January, which induded a r8tnbuw cake corrpetilion and a 24 hr wrtual disco. a
laudable sum was raised for the charity St¢y)ewall_
wrth the cancellat￿ of public exams. replaced with T&icher Assessed Grades. the pastoral learn focused
pastoral supwrt on the Upper Sixlh and Year 11 in particular. as these pupils grappled wf(h the newly
announced format of assessments.
Our Prrze Day, in which Upper Sixth parents and pupils were able to attend in person, heard from a former
Head Girf, who retumed lo deliver a powerful and positrve message about the importance of perspective in
career and choices, and how being able to respond creatively and flexibly to changing circumstances was
key skill to devebp and ¥￿ue in life.
The pursuit of a¢adÈmlc excellence
With almosl 80°A of resutts at A'th. 94°A at A'l and over 6 ￿Jt of every 10 C￿idateS gaining slraighl
A'IAS, the gids once again did themselves, their families and their School proud al A Level. The ￿Urse$
they will go on to study al university indude M&iane. Velerinary Mediane, Dentistry, Law. Engineering,
Modem Languages. Polit￿, English Lrterature. History. Economts and Psythology wr(h one girf going up lo
Oxford lo study Chemistry.
AI GCSE, over a third of all grades *Ere 9. Over 85°h of grades we ￿7. wth over 70% of the cohort
securing nine or MO￿ grades 7-9
September 2020 saw the Sch¢xl devdop a fenewed and highty effectNe remote leaming programme, that
leaml from and built on. the successes from the previous academic year. Thanks in part lo a hbgh level of
existing ability and ￿nr￿ence gained from the ffirst school closu￿. teaching staff were able to continue
offering 8 broad curriculum from a distance. There was an expectation for a 'lwe' teaching element in each
lesson, therefore 811owing the pupils lo interact fiJlfy ￿th their teacher5 and peers. A 'blended' approach to
teaching and leaming was another important wuirement to ensure t1￿ ptjpils present in Class. as well as
those Isolating at home, all had access to the same high-quality leaching. Har(Iware was installed in all
leaching sp&es lo facilitate this and ensure that the experience was as d05e as possible lo live in-person
teaching and leaming.
The strenglhening'of extra-cu￿¥¢u1ar activities
Every girf had an eXtra-curr[￿luM progr￿Me tailor8J to her interests and needs, wlh 120 different ¢lubs
and activities offered.
A wide range of opportunities We￿ prowde¢J lor Wership. communty engagement. Sptyting achievement
and interests
Page 5

TORMEAD UMITED
{A Company Limited by Guarantee)
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
08JECTS, AIMS ANO ACTIVITIES Iconlinuedl
The link with Bhu Pu Scho)l Besisahar. Nepal continued dvJrtally, and a joint expedrtion wlh the RGS was
planned for October 2024. Students from all year grcMJPS raised money for the DEC India Appeal, Royal
8rilish Legion, The Marine Conservation SoC￿ty. Young Minds, Better Lives Cambodia. The pupils
vdunteered over 1209 hours as part of the DolE scheme, a stxial value of £550.95. During the year, the
school community made ￿ular donations to the Guitdford North Fc*)d Bank and last winter over 600 coats
were donated to Wrapup London. Missing Maps is a cOl￿borative prqecl in wh*¢h our Sixth Form pupils
helped map regH)ns where humanrtarian org8nisations a￿ hetping * ftsk of disasters. Work has included
refugee site mapwng for the ongoing Tigray crisis and the mapping of the spread of COVID-19 in the
Lethakane District-19 of Botswana. A number of students volunteer for Zooinverse. the world's largest citizen
powered research plaffomi. wh￿h supptyts the WO￿ of professional researcher8. Regularly the Sixth Fomi
undertake a litter pick in the Jocal area.
A leadlng posltlon at the cutting edge of IT in education
Replaced half of our remaining proie¢tors with tou¢hs¢reens bringing improved cL4rity and brightness lo our
displays, as well as reduced maintenan
Introduced high qualty cwnera5 rnwhones rnto all dassrLX)ms to facililate blended leaming, which
allows pup41s self-isolating to still access lessons renv)tely
Moved Prep Schwl lo G￿gle CLgssroom and Google Meet for remote leaming. This integrated platfomi
was welcomed by parents and pupils who found rt easier to navigate than using showb￿ with a separate
meeting platfom)
Moved Senior Schod meeting plaffom lo hAiciosoft Teams. which allows for class rnigralion from our MIS
Planned for the introduction of School￿¥ned staff iPads to ensure a consistent and modern device 1$
available to am teaching staff
Worked towards {and subsequently awarded) Apple Distinguished Schods status for the third lime. This
recognises us a centre for technological excellence that is comnirtted to a culture of conlinuous innovalion.
An a$ptrational and ambitious Sixth Form
The Sixth Form continued to have an academic focu5 ¥￿th even more opportunities for the girls to take part in
intellectual lrfe. All subject mentors p￿sented a short talk in Sixth Fom Assembly which was suitsble for a
general audience. The entire Sixth Fomi took part in either SyThposium or EPQ. and Horoons exposed the gifts
to a wide variety of life experiences and also subject knowledge e.g. the latest medical or engineering research.
'Oxplore' and 'What Ir sessions were open to the Sixth Fomi. both of which provide opportunth'es for ¢ounter-
factual and critical thinking. The Oxbridge coordinators continued to provhle a structured programme of
preparatK)n for our car￿KI81eS and arranged mod¢ intemews forthose girfs who are invited.
This year we held our inaugural Sixth F(*m Tom)eadlRGS p￿fects dinner whieh Included a 30•minute
presenlathjn from RKk Findler an awafd-wnning war photr8rapher whose work has been published in The
Sunday Times.
The Sixth Form team has been ￿$truCtUred an¢Y there are tsvo co-direetors.. Mr. Robin Ewbank (Academic)
and Mr. Julian Sykes (Past￿1).
As part of this restructuring, the￿ is a new Sixth Form Tutor Team that provides strong leadership in both
academic and pastoral sur4)ort. All girls meet with their Tutor at least once every term and prowde an
additional level of support for the UCAS applicats.on prc￿s.
Page 6

TORMEAD LIMITED
IA Company Limited by Guaranleo)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
OWECTS. AIMS AND ACTivmES (continuedl
Voluntary work continues to be an integral part of Sixth Fomi lrfe and we now work with a number of local
schools.. Pond Meadow. Boxgrove. S￿hW￿l and St Joseph's. Due to COVID-19, voluntary work switched lo
on-line with pupils creating innovative pr(yJrams to support the communty. We have continued to litter pick in
the roads that surround Tomiead and in January 2022 * hope to resume voluntary wod( in person for double
vaccinated pupils.
Many of our Sixth Form expeditions are ncN4 shared wth RGS, including our intemalional partnership with
sGht)ol in Nepal. Again. we hope lo conts.nue these valuable links as soon as the intemalional COVID-19 and
associated insurance situation imFKoves.
The further development of links with parents and the community
Increased levels of parental involvement in Tormead community events
We reviewed OUT Outreach programme prior to Cowd. ar￿ its effectiveness. and a new programme was
launched during 2020 whth included the addibon of further I￿31 stht)oL8. Post Covid rt is hoped that the
increased scope of the proviswjn wll create more opFortunTties for Tormea(I girts to participate. and the
uptake of 5uGh Opportunit￿ by our Sixth Formers continues lo grc
We have continued to grow relationships wth alumnae and created a new Development Department at the
school lo focus alumnae engagement and acts'thty. An anbrtKJus programme has been created to foster
onwng ￿l*￿)nshIpS be￿eeft our nelwoth ofdd girls arKI the Torrnead community.
The optimisation of the site
In 2020 local architects were engaged to prepa￿ a Masterplan of Ihe school site lo consider how lo
ma￿Mise opportunty from the space available and provide 21st century leaming facil¢ties for pupils. Plans lo
construct a new Mutb. Use Games Area We￿ place(J on hokl Whi￿ the Masterplan was prepared. Architects
reported lo Trustees in June 2021. Trustees asked ts the Mastery)kn to be fulty costed to allow for further
consideration in the 2021r22 aCade1n￿ year.
Following on from the partnership agreement entered into wth Guildford County School. for lh& development
and improvement of sports faeiir(ies at the Umfield, the preparations for a planning application have
continued in 2020r21. The Umfield 15 a fa¢ilty U4vned by Guildford County Schod it is approxim81ely 5
minutes from Tormead by minibus and current facilities include two cricket pitches. a grass athletics track.
tsvo rugby and three football prtches. plus a pavilion. Under the partnership agreement, and In exchange for
Torme8d covering the cost of redevelopment. use of the Urnfield would be shared between Tormead and
Guildford County Sch(M)I both schools being ab￿ to consider il their horne ground. The planning
application includes a full-size artthcial hockey pitch surrounded by a new. artthcial athletics track, new
facilities for field sports. a new first Xl natural grass football pitch. conversion of the X1 cricket prtch lo an
artific￿1 wcket. and the instsll*ion of erid(et nets. The planning appltstion went live in May 2020, bul has
been subject to several significant delays, outside of the control of either school. The planning application
was rewewed by Guildford Borough Council and ￿leCted at their December 2021 meeting., an appeal is
being considered and both Tormead and GuIklf￿d ￿nty SchorA remain fulty CLYnmitted to the project.
Future developments
The above objectives will Continue to be ￿ntral to the fvlure devebpment of the Sdwol and are all priorities in
the School's 2021122 development pL4n. However. the planning delays related to the joint Urnfield project, noted
above are resliicting the School's ability to COMThEn￿ any further redevelopmenl wotks.
Paoe 7

TORMEAO UMITED
{A Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDEO 31 AUGUST 2021
PUBLIC BENEFIT
Bursary policy
The trustees are committed to ensuring that finanaal assistance is available, wthin the rneans of the School, for
families who would not otherwise be able lo afford the fees or to rel*ve hardship where a pupil's education might
be at risk. Our bursary awards are available to all who meet cwr general entrance requirements and are made
solely on the basis of pa￿ntaI means. The financial needs assessment is made through the use of a means
questionnaire and an independent assessor.
The Trustees are aware that the Schoc4 has no endovKnents from which lo draw funds lo meet the financial
commrtments of bursaries, all the charitys income coming solely fiom fees. There is therefore a balance lo be
stwck in the number of bursaries awarded and the fees being receNed from other parerhts thal subsidise the
scheme.
Bursary awards can be for up to 100% of fees and the Trustees have fixed the number of awards al five at
1 OOOA, Of equivalent. in each year group from Years 7 10 13. Entrance Bursaries are awarded on entry to the
school at Year 7 and Year 12, whilst Hardship Bursarie5 can be offered at 3ny stage. including in the Junior
School. In addition. the￿ is financol assistance for families warded Entrance Bursaries towards the cost of
uniform, educational schcol trips and publi¢ examinations_
During the year, the Sch¢>￿ pfovided means-tested Entran￿ Bursaries for 42 pupils whose parents could not
afford the full fees. with 13 pupils retsNing support of 1CM)% of fees. An additional nine pupils received Hardship
Bursaries for all or part of the year.
Beyond the considerable public benefit of providing a hvJI￿￿ass eduCat￿n to pupils of the School, which equips
them wrth ex￿lIent academic qualifications and instils in them a sense of crtizenship and responsibilrty in later
lrfe, the Sch￿1 also provKled wder benefits as detailed bekw.
Charitable giving
The pupils of both the Junior School and Senior School raised money for designated tharities throughout the
year. During the 2020121 academic year £1.640.41 was 9sven to charities and among the reGipienls were.
Red Nose Day
WWF
Disability Challengers
Save The Child￿n
Cancer Research
Age UK
Royal British Legion
Through the Duke of Edinburgh scheme administered by the School. our pupils are involved in helping I￿al
charities and vdunteer on a regular basis.
Page 8

TORMEAD LIMITED
(A Company Limited by Guarantee}
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
PUBUC BENEFIT l¢ontinuedl
Educatlonal benefits to those who are not puplls
Before the COVIt>19 lockdown, we offered outreach proMsion to local ￿hC¥)IS and care homes,. the girls and
staff enjoyed participating and working wrth the l¢xal ¢ommunty. We plan to resume these act1vrt￿S when
possible.
In music. our choir and orchestra were unable lo perform regulaty at concerts and servi￿$ lo the publ
because of reslriclirMs in place to lim* the spread of COVID-19.
As noted previously. we have entered into a partnership with Guildford County School for the redevelopment and
expansion of spoth'ng facilrties at the Um F￿k1. Shcxjkl planning approval be weTved. this projecl will create
signrfi¢ant benefit for the pupils of Guil<fford Cwnty School. in addition to the benefits afforded lo Tomiead girls.
REVIEW OF ACTMTIES AND ACHIEVEMENTS
Pupil numbers
Pupil numbers were 717 at the end of the Summer term 2021 arKI there are 735 pupils on rol al the start of the
new academic year in Seplernber 2021.
Academi¢
This year saw the continuing academic Suc￿sS of the Sch>)I with extremety strong results at both A level and
GCSE as detailed on page 5.
The qualrty of pupils. academic and other athwements was judged as 'Excellenl' in the ISI Educational Quality
inspection (May 20171. The inspectOf5 noted that."
'Pupils demonstrate excellent knry•Aedge, skills and understanding across a wide curriculum and are ably
supported by expert and dedicated teaching
'Pupils display exemplary altitudes to leaming and greaty enjoy the many opp￿initieS for collaborative
learning, decision making and independent researth.
Page 9

TOFIMEAD UMITED
IA Company L•mited by Guarantee)
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
Sports Report 20121
In the Autumn and Spring Terms we focused on the range and quality of Sk)Qrt Ihat we were able to offer the girls
in their bubbles followng school and Nat*Jnal Governing Bod￿S, guidelines. They cleady enjoyed their return to
sch¢)ol sport and attendance was excepb'onalty h￿h * our extrxurriculum sessions.
Reduced external facilities encouraged a creative appr¢)ach and all¢*￿d us an addiÉional fccus on sports that we
are looking to devebp going forward.
Curriculurn
Ph
sical Fitness
ialisation and Wellbèin
We reeognised that rnany of the girls had not had the level of physical actiwty they were previously used lo so
overall frtness levels were reduced.? Isoktion and SOCTal distancing over the kickdown was challenging for many
of our students and they were looking forward lo getting back in I¢￿th wrth Iheir friends. Sport and Physical
Education provided a great vehicle f￿ thi&
To this end we implemented the following".
Introduced new leambviltling and fftness lessons
Launched new opportunities for all to play footbal tag rugby. Devekjped the eady moming Strength
and Condf(ioning sessions and created virtual 'Maslerclasses for Sports, as well as a range of extra-
curricular actwities to watch when isi*bng or for exira training.
Set up a Tormead Strava club to encourage our running tornmunrty
Extra<urri¢ulum
In lod(down. we offered the folkM"ng".
Virtual training SesS￿nS including Strength arKI CorKIrtK>ning. yc¥JalPilates. technical skills focus
Healthy cook-alongs
A Q&A session with Emity Nemeth, Head of Pathway ai Surrey Stofm. our local Supedeague franchise. as
well as being Assistant Coxh and an Englartd Netball Roses Aca<lemy selector
Sports Psychology session on Ihe'Power of PositNe Self-Talk'
Meditstton and Pilales sess￿5
On our return to School. the timetal￿e continued to offer a full and varied raw of opt*Jns as nomal wrth sports
options for everyone across all ability levels.
The extra<urricular sessions proved very po￿￿Or w￿h a sMJnfftant increase in p￿t￿Ipation in development
netball in Year 10 and Year 12 girts
Netball
Year7
63 total (Mrt of 88 in group. 21 AB squad + 43
devekjpment
48 total 20 AB squad + 28 development
41 total 19 AB squad + 22 development
47 total 20 AB squad + 27 development
14 total
16 total
9 totsl
Year8
Year9
Year10
Year11
Year12
Year13
Five girls were 5dected to be part of the Suw County Netball Academy.
Hockey
We continued our Saturday hod(ey sessions enabling the girts lo play competitive htxkey up at the Surrey
Sports Park wrthin their bubbles and maintsin that Saturday sport habrt.
Page 10

TORMEAD UMITED
IA Company Limited by Guarantee)
TRLISTEES. REPORT {CONTINUEO
FOR THE YEAR ENDED 31 AUGUST 2021
Gymnastics
In the gym. the girfs continued lo train throughLXrt the year in group bUbb￿S c(Nnbining girfs from all three
tiers, Participation. Oevek)pment and National squads during the after school and Saturday classes. Whilst there
were no competitions in 2020121, the emphasrs was on skill progressionldevelopment and preparations for
Regional and Nationals competitions In the follNing academic year. During periods of lockdown, the
gymnastics dasses moved to renvxe learning *Mth sessions held via Gocgle Classroom for the Prep School
gyrnnasls and Zoom for the Sen￿r School girts. The remote pro9ramme was designed to focus on conditioning
and fle￿bil￿ alongside dance. yoga, Pilales and ch￿raphy. These sessions were offered to all gids
In the Summef temi, it was wonderful to retum to a m(we nom￿1 sports prcoram svth a focus on *hlelics, cricket
and tennis.
Followng government guidelines and those of the indNidual sports, National Goveming Bodies, we We￿ able lo
fu￿11 some of our premously organised fixtures as well as inircxluung a few new ones with local schwls where
pemissible. The emphasis was on getting Ihe gids bxk to enjoyable coryetitive inler-school fixtures.
Athletics
Whilst the￿ was no Distrid Sports or Surrey Schools Ath￿1[¢$ we We￿ able lo get the gids back to inler-school
competitions and put into pr0¢t1￿ Iheir training in running. jumps and throws during the season, both virtual ané
real time.
Crick
Cricket has very much follo1￿d a normal path wrth the Surrey competi1￿8 Still running across the btsard.
Tormead participated in".
ESCA U13 and U15 Hardball competitk
The SOCS U13 Hardball and Softball eompetrt￿s
Surrey County Cup.
with limited hardball experience the gids gained valuable experien￿ to build on for next season.
Tennis
The gids enjoyed their pre-season tennis camp hosted at Tormead during the Easter holidays. They were
subsequently able lo enjoy sorne friendfy fixtures. against local teams.
Prep School
There was a drive to Continue building and nurturing connections in w)rt across both the senior and prep
schools through shared resources induding coaching. use of facilth'es and support for r￿mpetItIOns.
This was enhanced later in the year by compeb'tNe opportunities in athleb'¢s including three Qua(1 kKIs'
competitions with Manor House, GHS and CLFS wrth some e￿I￿nt indmdual perfomiances across the
disuplines. Sports Day enabled all the girls to test their athletics skills wriih each House showing grit and
determination to do their besl. It was also great to see the Prep gids pathcipate in the Starburst Cricket Festivals
from Years 3-6 as part of our on90ing prcrfnotion of cricket as a key summer sport from Prep School upwards.
Teambuilding
On the back of the tearnbuikling lessons introjuced in the first haff term of the year. the Sports Team provided
Teambuilding aftern￿S 11 was an invaluable opportunity for all the girls to rekindle relalionships and have some
fun in a safe and supportive environment.
Rowing
Tomie8d's fifsl venture into r￿tyng h•J a gcKxl start in the Sum￿[ term with ts¥o curriculum sessions for the
Year 8 arK4 9 girls and an extra-curricular session for the Year 8s. we￿)rIdge Ladies Rowing Club were
exlremely welcoming, and rt was gcod to see the girls make their firsl forays on the w*er in the Octo boat.
Having already established a slrong link. there are plans to provbje rovnng in the new year for Years 9 and 10
with the potential for C¢￿￿F￿trt1O￿.
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TORMEAD UMITED
{A Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
House Sports
Everyone enjoyed a revNed H(￿se Sports Day The girls played in their year groups and the atmosphere was
extremely lively. The girls were able to participate in four drfferenl sports ¢Juring the day," netball, hockey. football,
rounders an¢J for the Year 9 and 10 girls, thwe was a150 the of Ngby.
In addition, following slrict guidelines. our Lower Sixth girls were abk to ￿nd their support and knowledge with
some of the umpiring and scoring across all the sports whilst at the same time having opportunities lo engage in
their own sport including squash, spinning. Pilates ￿ dojgeball.
Sports Day
Sports Day provided a lovely denouement to our year ￿￿th opw)rtunities for all the girls in the senior school to
participate in both track and field athletics for Iheir H￿IseS. Our Iron Women were strong contenders in their
pentathlon wth sC￿e fierce compelthn all rourKI.
A New Identity
orts Ki
The final half term of the year the l*Jnch of Tom*ad sports kit and the girfs will look extremely
ofessional.
Fitness suite
A new Fitness Suite was instaned in June, providing great opportunrties for the girls to improve their strength and
conditioning and fitness and supplement their preparab.on for match play and CLYrtpetitic)n. The staff will also
have the opportunrties and wil be welcryne to use the fa¢ihtw.
Muslc
Due to COV1[￿19, 811 must live perfomwnce was cancelled for 2020121, but the school continued to run a
successful, virtual choir. When the school ￿turned in Summer term 2021. year group ensembles and choirs
continued in bubbles wth some re￿rdIng of ensemble work. There was one outing of music in the year. namely
the Carol servi￿ which was v¥Jeoed in advance, again in separale year groups.
Drama
It was a strange year as large amounts of time were spent sludw.ng Drama from h¢Jne and this played a
significant part in stopping the girts from being able lo improve their confidence levels and leadership ski115 bul
they all improved their presentational versatility by embracing technok*Jy and using spotlighting, virtual
backgrounds and all Ihe other available Zwm features to projuce work of the h￿hest qualty can be.
October saw the Tomiead House Orama Competrtion take place as usual vAlh the added twist that the entr￿S
had to be filmed with no Mi￿n9 of year groups allowed. The esteemed IL￿ging panel were unable to separdle
Livingslone's crime L1rama 'Six Fknrs Underf. featuring drone footsge and location shooting at a Guildford car
park, fr[￿ Wellington House's 'Among Us.. which had scmne dever edib.ng trid¢ery as well as some excellent
eharaeterisations, so they were dedared I￿nt wnners.
In the spring, we were able lo host another theat￿ screening for all 57 students studwng Drama at GCSE and
'A' Level. We were privileged to watch 'Re<l Velvet. by Chakrabati. This play lold Ihe true, untold story of Ira
Akjridge, the most renovme<l Afn'canAmeri¢an xtor of the 19th cenlury.
The summer temi sw a ne4V re¢ord in the Drama Department as there were 4 prOdUct￿n$ in the space of four
weeksl
- Year 7 Drama Club got the ball rolling 'An Evenhng of Ccmedy Sketches. which was very well attended iria
Zoom and saw a large cast of creative girts demse their comic scenes featuring a wde range of wacky
scenarios and characters such as a yodeller. a terrible make-up artist and a teenager vtho misguiéedly bought
their mother a chainsaw and sarurai sword for her birthday.
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TORMEAD UMITED
(A Company Lirnited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
Later lh* same week. a lerrift bunch of Year 9's lrVestrear￿d a play called 'The Pack,, under some skille¢J
direth'on. This production was part of a new naliorwide, partiap*ory projecl called 'Posrtive Stories for Negative
Times,, and was the brainchild of theatre company Wonder Foc4s. This innovative and excrting project was a
response to a lack of physical spaces for young people to be able to part￿Ipate in ¢￿ative activttles due to the
pandemic, and therefore aljowed Ihem to come ttsjether to make new work online. The plot was 8 playful and
poetic exploration about getting lost in the loneliness of your bedroom and trying to find your way home.
- The followng week saw the showpiece event of the temi. The Head of English directed a cast of talented Year
10s in Splendid Productions barmy adaptation of Homer's 'The Odyssel. The cast retoky the story of Odysseus
{perfom*d with grace, flair and skill by a wooden spoon) as he embarked on his famously inconvenient journey
home from the Trojan War. Packing a decade of advenlures into a breathless hour, the rest of the heroi¢, 811-
female, non-wcthen cast ¢￿￿ed a mythical wortd of hungry monslets, devious sorceresses and frequent
shipwrecks as the resourceful Odysseus battled to relum lo his family. This pro(luclion was perfomed twice and
actually had a live. masked audience each night ol Year Ios and stsff, as well as being livestreamed. It was
wonderful to have Injly live theatre back again and the.rtjstac￿ course. section featuring a brave member of the
audience being squirted with water, bashed by a monster in a rubber riThJ and trying to limbo to safety was one of
many highlights in a show containing an impressive array of physical theatre, audience interaction and song.
In the buikl-up to this show, the Year 10 cast were lucky enough to have benefitted from an inspiring an￿erson
workshop with Kerry Framplon. Artstic Director of Splendid and east member in the original production, who
re￿lY helped them to phys￿11$e ar￿ vocalise Ihe characters in the play.
Finally. a dedicated and adept cast of Year 8s were directed by the He&1 of Drama in a fulklenglh production of
play ￿lled 'Second Person Narrative. by Jemma Kennedy. The play consisted of a series of scenes, some
comic, some dram81ie, which captured fragments of a single characterfs lrfe. starting at her birth. and ending at
her death more than 80 year later. In behveen the aud￿nce saw her 9TOW up. make fn"ends. get jobs, form
relationships, win awards, buy dothes. make mistskes, have a child. discover herself. and enjoy a good laugh.
The central character, referre<l to solety as YOU throughoul. was aK¥ays SUTrounded by a group of voices who
shaped her and her narotive_ This was livestreamed in the last week of haW4em and the perforMan￿S from the
young casl were impressivety mature. Reccffdings of aH four of these pr(wJUCt￿ns have since been made
available to parents.
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TORMEAD UMITED
(A Company Limited by Guarantee
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
STRUCTURE. GOVERNANCE AND MANAGEMENT
Under the MemoTandum and Articles of Ass¢xialion of Tomiead Limrted. control of the ￿rnpanY is vested in the
Council of Management. whose Members perfom a rde equ￿a￿nt to that of company directors. The Council
Members are also the Charily Trustee5 and the Governors of Ihe School and are responsib￿ for appointing new
Trustees. Any proposed appointment shcKJld be nots.fied to the Council ten daJE before the proposal is put to the
vote. New appointments ￿QUire a three quarters majorty vote at a Counul meeting f¢Y the appointment to be
approved.
The School aims lo have a broad range of skills on the Trustee b￿ty and the current Trustees are experienced
in the following fields.. school and universrty educatwjn. ffinance, propety, business, Med￿ne, engineering and
law.
Nominations for vacanaes as they are anticipated or arise generally are foNarded to the Board of Governors for
review. The Head and Chair of Govemors ioinlty propose the appointment of new govemors for the Board's
approval.
New TTuslees rerave formal induction materials from the cle￿ lo the Govemors. All Trustees are notified of
relevant training ¢C￿r$e$ an(J all the governors a￿ encouraged to attend the AGBIS new Trustees. eourse.
Ongoing training is promded through specialist training presentations to the Board of Govemors and tls
committees. .
Trustees
The Trustees who were in office during the year ended 31 August 2021 are k.sled on page 1. Trustees retiring by
rotstion and who. being eligible, offer themselves fty fe-e￿￿￿￿ are..
Mrs A Callum
Mrs A Geary
Mr M Howse
Management
The day to day running of the sch￿ is delegated to the Head and the Bursar, supwrted by an Executive
Leadership Group, Senior Management Team and the Prep S¢hcol Senior Team.
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TORMEAD UMITED
(A Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
Iconlinued
Risk management
The Trustees have a risk management str*egy which comprises".
An annual review of the prinupal risks and uncertainlbes that the Schcd faces..
The establishment of policies. systems and procedure5 to mrtigate those risks identified in the annual revwi".
and
The implementstson of pr￿edureS designed to minimise or rn¥￿ge any polenlial impact on the School
should those risks m8lerialise.
Financial risks
The School's operattons expose it to a variety of fmancial risks th* indLJde ¢￿di1 risk and interest rate risk. The
monf(oring of these risks is the resp)nsibility of the Finan￿ CLxnmittee of the Tru$tee5.
The Trustees are aware of the uncertain ￿litIcal clim*e at the present time, exacerbated by the
impact of COVID-19, and how this may IMW upon Ihe future pupil numbers at the School. Potential changes
lo the structure of the maintained schcd sector may further affect fLrture pupil numbers whilst possible changes
lo the tsx and l ￿ charitable ststus of independer)t schcols may affect financial perfomiance. The Trustees
continue to exercise prudence in the management of the SchcÉ•l's finances to ensLbre that any effe¢ts resulting
from the problems in the wder econ(my, or polit￿al shffts, a￿ effedTvety managed.
Craditrisk
Tomead has in place a very dear and well defined procedu￿ for the Collection of all debts. The 8ursar ensures
that the procedure is followed and that the School enters into earty diak)gue wrth any potential debtors lo ensure
that problems are idenlffied and resohfed ai an earfy stage.
Interest rate risk
The Schwl ensures that its exposure to unfavour*)le rnov￿ents in interest rates is minimised by negoti*ing
very favourable terms through its lender by fi￿n9 its loans for a number of years so lh* future repaymenls are
kn<Min. During the prior year the lem thn was fixed for 15 years at an extremety favourable rate to provide
stability. The debt repayTnenls are factored into the Schcol's ￿￿terni finanaal planning to ensure that they are
affordable.
Compliance risk
The Sehool has robust poliaes, procedures and pl￿esseS in pl￿ to ensure Complian￿. S8feguardin9 and
Health & Safety are lundamentsl to all that the Sch￿1 dces and the welfare of the girfs and our staff is of the
utmost importance. There is a ncNninated Trustee wth responsibilrty for oversight of Safeguarding and the
Trustees wew the managemenl of Safeguarding at each meeting of Full Counul. There is also a nominated
Govemor for Heatth & Safety who rewrts to the Finan￿ & General Purposes Commrttee each temi.
Covid i¥sk
The school has a rotryjst COVID-19 risk assessment in place. revI￿Ved on a regular basis in conjunction with
Trustees and local and national agencies (PU￿1C Heafth England. Surrey County Council, the local Health Care
Prolects'on team).
The whole Sch￿?1 community has worked together to maintsin a strong sense of wellbeing to mitigate the risk of
Covid and to limrt the fInanU￿ risk lo the organisalion.
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TORMEAD UMITED
IA Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
lcontinuedl
Investmenl powers
The trustees are empowered to invest the funds ol TomEad L#nited in stocks. secur((￿s. propety or other
investments as they think frt and in accordance wth Trust Law.
Pay policy for senior staff
The Trustees consider the board of Trustees {who are the directors for the purposes of company lawl, along with
the Head and the Bursar, to be the key management personnel of the chanty in charge of directing. controlling,
running and operating the S¢*(d on a day to day basis. Al Trustees give of their time freely and no Trustee
received remuneratian in the year.
The Trustees consider the remuneration of key management personnel * s¢hwls of a similar size and profile to
benchmark the Salaries of the Head and the Bu￿aT. The Trustees approve the annual pay increase. if any, for
all staff * the school and this is applietl lo the salaries of the Head and the Bursar. In determining the annual
pay award. the Trustees consider the maintained sector pay 8ward. the overall economic ouilts)k and the
financial posrtion of the sch¢￿1, particularty wth reference to the budget for the next year. An element of the pay
of the Head and 8ur5ar is a150 performance-relaled. The levd of award of the performance-related element of
remuneration is detemined by a sub<ommittee of the Trustees after considering level of allainment of agreed
targets for the year.
FINANCIAL REVIEW
The Statement of Financial Actmiies is presented on page 23. Total incoming resources amounted to
£10,601,184 (2020." £10, 122,212) ol which £9.657.3C6 (2020.. £9.518,982) was expended as direct charitable
expenditu￿. Following the January 2021 national COlllD-19 Icckdown and assocjated c105ure of schools for the
spring temi. the Goveming Bcxly approved COlllD-19 related c05t cutting ini(ialives that were rmplemented
rigorously during Spring and Summer lemis. During the year the UK Govemment furtough seheme was
accessed to support the salaries of sports, admintstration. supwrt an¢J premises staff who were unable to
¢￿trIbute due lo the restrictions. At year end the UnreStr￿ted funds increased by £942,599 (2020.. £602. 777J.
As reported above, the Schojl is committed to a joint prc4e¢t wth the Guildford County School to upgrade the
sports facilrties at the Umr￿￿￿. Should approval be receNeil and the Trustees elect to pr￿eed wth this project.
reserves would be alkncated wth some priority to eff¥ting these plans.
Fixed a￿ets
The School's land and buildings were valued by King Sturge & Co at 10 December 1999 at £6,975,000. The
valuation has not been included in these fin8ncial ststements. Since the date of this valuation the school has
invested a further £16,973,077 in land and buiklings.
The nel book value of land and buibJirwJs in the finatKial slalements is £15.788,365 (2020.. £16,491.249J. The
trustees believe that the markel value of land and buiklings hekl by the School is signifuntly in.excess of the net
book value. ahhough no formal valuatKsn ha5 been undertaken since 1999.
Page 16

TORMEAD UMITED
IA Company Limited by Gyaranteel
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
Charlty rgser¥es
The School aims lo retain unrestricted f￿ reseNes equwalent to £100.000. This is after designating
unrestricted resefves equivalent to the nel Car￿ng value of the School buildings. The unrestTiCted funds held by
the School al the year end were £16.465.564 (2020.. £15.522,965). The￿ are Currently free TeseNes of
£677,000. The trustees intend lo invest these free reserves in fvrther improvemenls to the School's faeililies.
See future developments section on page 7. Reserves are necessary as a contingen¢y for meeting unstheduled
repair5 and mainlefian￿ or unforeseen expendrture. The Trustees monrtor the level of reserves on a term by
term basis revw the policy on an annual basis.
Auditors
Our auditors, Ne￿a Smith & Williamson have indicated a willingnes$ to continue in office. A resolution to re-
appoint the auditors wtll be proposed al the next meets.ng ol the governing b)dy.
Disclosure of Infonnation lo the audltors
So far as each of the Trustees semng at the time this rep)rt is approved are aware.
There is no relevant audit information of which the al￿ltorS are unawa￿, and
They have taken all the steps they ought to have taken to make themselves aware of any relevant audit
information and lo establish that the auditors are aware of that infomiation.
Approved by or¢Jer of the members of the board of Trustees and signed on their behalf by.
R Harris
(Chair of Trustees)
Date. 8 December 2021
Page 17

TORMEAD LIMITED
{A Company Limited by Guarantee)
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2021
The Trustees are responsib￿ for prepariThJ the Trustees. Report and the financAal statements in a￿rdance wrth
applicable law and regUlat￿n$.
Company law reqvTres the Trustees to Prepare financial statements for each financial year. Under that law the
Trustees have elected lo prepare the finanaal slalemenls in accordance wrth United Kingdom Generally
Accepted Practice (United Kingdom Accounting Standards and applicable lawl. Under eompany law the Trustees
must not approve the finanual statements unless they are satisfied that they give a true and fair Mew of the slate
of affairs of the charilable Company, and ol the incoming resources and appI￿at￿n of ￿sOUrces, including the
income and expenditure of the thartsble company for th* perioj.
In preparing those financial statements. the Trustees are required lo..
select surtable accounting polic￿ then apply them consistently..
observe the methods and principles in the Charities SORP.,
make judgemenls and accounting estimates that are reasonable and prudent-,
prepare the financial statements on the going concern basis unless it is inappropri*e to presume that the
Sch￿1 wll continue in busine5S.
The Trustees are responsible for keeping adequate aca)unling records th* are sufficient lo show and explain
the charitable companvs transactions and disclose wth reasonable accuracy at any ts.me the financial posilion of
the charitable company and to enable them to ensure that the financial statements comply with the Companies
Act 20C6. They are also responsib￿ for safeguarding the assets ol the Chantab￿ company and hence for taking
reason8ble steps lor the prevention and detection of fraud and other ￿egularitIeS.
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TORMEAD UMITED
(A Company Limited by Guarantee
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TORMEAD LIMITED
Opinion
We have audited the finarrial statements of Tom)ead Lwnrted (the ' Charitable Companv) for the year ended 31
August 2021 which comprise the Slalement of Financial Adivities, the Slalement of Financial Posrtion, the
Statement of Casmows and the notes lo the financial ststements. induding significant accounting policies. The
rinancial reporting framework that has been applied in their preparation Is appluble law and United Kingdom
Accounting Standards, including FRS 102 "The Financol Reporting Stsndard applicable in the UK and Republ
of Ireland" {United Kingdom Generally Accepted Accounts"ng Pr*icel.
In our opinion, the financial stalemenls..
give a true and fair of the stste of the charit*￿ Companys affairs as at 31 August 2021 and of its
income and expendrture for the year then ended..
have been property prepared in accordan￿ ¥&ith Unrted Kiryd￿n Generalty Accepted Accounting
Practice," and
have been prepared in accordance ￿th the requirements ofthe CThwanies Act 2006.
Basis for opinion
We conducted our audit in accordance wih IntematR)nal Standards on Auditing (UK) IISAS {UKII and applicable
law. Our responsibilities under those standards are further descllbed In the Audrtor's responsibililÈs for Ihe audit
of the finartcial ststements se¢lion of our report. We are independent of the Charitable Company in accordance
th the ethi¢al requiremenls that are re￿vant to our audtt of the financial 5tstemenls in the UK. including the
FRC'S Ethul Stsnéard, and we have fulfilled our other ethical responsibilities in acwrdance with these
requirements. We believe that the audit evidence have otlained is suffKient and appropriate to provide a
basis our opinion.
Conclusions relating to going concern
In auditing the finanaal statements, we have conclude(t that the trustees. use of the going concem basis of
aKounling in the preparat￿n of the financ￿ slalemenls is appropriate.
Based on the work we have perfomied. we have not identified any material uncertaint￿$ relaling to events
conditions that, individually or coFlectNdy. may cast signfficant doubt on the Charitable CoMpan￿S ability to
continue as a going concem for a peric#l of at feast twefve months from when the financial ststements are
authonsed for issue.
Our responsibilities and the responsi￿litieS of the Insstees ¥￿th respect to going concem are described in the
relevant sectK)ns of this report.
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TORMEAD UMITED
{A Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TORMEAD LIMITED (CONTINUED)
her infomiation
The other infomiation comprises the infomialion included in the Trustees, Report and Financial Statements,
other than the financial statements and our auditorfs report thereon. The trustees are responsib￿ for the other
infomialion contsined within the Trustees. Report and Financial Statements. Our t¥)inion on the financial
statements does not cover the other information and. ex￿p1 lo the extent otherwise explicitty slated in our
report, we do not express any fomi of assuran￿ eonclusion the￿(￿. Our ￿SpOnsIbl111Y is to read the other
information and. in doTng so, considef whether the other infomiation is materially inconsistent wth the financial
ststemenls or our knowledge obtained In the course of the audrt or othetwse appears to be materially misststed.
If we identfy such material inconsistencies or apparent material misstatements. we are required to determine
whether this gives rise to a material misstslement in the ffinanaal slatemenls themselves. If, based on the work
we have perfomed. we condude that the￿ is a maten.al misstatement of this other information. we are required
lo report th* fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act ￿>06
In our opinion. based on the work undertaken in the course of the audrt..
the infomation gwen in Ihe Trustees. Report, which incorporates the Strategic Report and the Diro¢t¢rs'
Report prepared for the purpose of company law, for the financial year for which Ihe finanaal statements
are prepared is consistent with the financial statements," and
the Dire¢tors' Report induded ￿thirt the Truslees. Report has been prepared in accordance with
applicable legal requirements.
matte￿ 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 identffied material misstatements in the Directors. Report contained within the
Trustees, Annual Report.
We have nothing to ￿p¢)rt in respect of the fc1lc￿"n9 matters in relation lo vthich the Companies Act 2006
requires us lo report to you if. in our opinion..
adequate accounting records have not kept. tr ￿tUrnS adequate for our 8udit have not been
received from branches not visited by Lts.. or
the finanual slalemenls are not in agreement wfh the accounting records and returns.. c
rtain disclosures of trustees. remunefation specffjied by law are not made. of
we have not received all the inforrnation and explanations we require for our au¢JiL
Responslbilities of truslees
As explained more fully in the Slalernent of Trustee5' Responsibilities set out on page 18, Ihe trustees (who are
also directors of the Charrtable Company for the purposes of company lawl are responsib￿ for the p￿paratIOn of
the financial statements and for being s*isfied that they gwe a true and fair wew. and for such internal control as
the trustees delennine is necessary to enable the preparatK)n of finanual slalements that are free from material
misststement. whether due to fraud or error.
In preparing the financial stalernents. the trustees are responsible for assessing the Charitable Company's ability
to ￿ntinUe as a going concern, disdosing. as applicable. matters related to going concern and using the going
concern basis of accounting unless the trustees either intend to liquidale the Charitable Company or lo cease
operations, or have no realislic altern*ive but to do so.
Page 20

TORMEAD UMITED
IA Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TORMEAD LIMITED (CONTINUED)
Auditorfs responsibilities for the audit of the finan¢ial $tatement$
Our objectives are to obtain reasonab￿ assurance about whether the financial stalements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an aijditorfs report that includes our
opin￿n. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in
accordance wrth ISA5 {UKI will a￿VayS delect a material misstatement bthen it exists. Alisstatements can arise
from fraud or error and are conshlered material rf. indiwdualty or in the aggregate. they could reasonably be
expected to influence the economic deasions of users taken on the basts of these financial slalements.
Irwularilies, including fraud, are instance5 of non<ompliance laws and regulations. We design procedures
in line wtth our responsibilitie5, outlined above, to detect material mi55talement5 in resped of irregularities,
including fraud. The extent to thich OLFr procedures a￿ capable of detecling irregularities, inehJding fraud is
detailed bek)w'.
We obtained a general understanding of the charrtable CoMpan￿S *al and regulatory frameworf( through
enquiry of management concerning their understanding of relevant and reguL4tions and the entity's policies
and procedures regarding ¢onWiance.
We understand thal the charitable ccryany complies vthh the framework through..
Outsourcing payroll. accounts preparation and tsx Compliance to extemal experts
Subscribing to relevant updates from external experts, and making changes lo internal pr¢)cedures and
contrcAs as necessary
Updating operating pr(￿edU￿ and intemal controls as legal and wulatory requirements Change,
In the eontext of the audrt, we considered those laws and regulations wthich detemiine the form and conlenl of
the financial statements, which are central lo the chantable companys ability to conduct its business, and where
there is a risk that fajlure lo comply could resutt in material penahEs. We identified the following laws and
regul*ions as being of s1gn1fKan￿ in the Conte￿ of the charbtable Gornpanls aciivities."
the Companies Act 2006
the CharilEs Act 2011
Safeguarding legislation retevant to educational settiThJs
Based on our undersianding we perfomied the following $￿ifiC pr￿edu￿ to gain evid￿¢8 about compliance
wlh the signrficanl laws and regulations idenlrfEd above".
making enquiries of management and those tharged with governan￿ to understand their awareness of any
non<(yn￿lanCe of laws artd regulabons
inquiring about the policies that have been estsblished to prevent non-compliance with Iws and regulations
by officers and employees of the charitable company
inq(Jiring about Ihe methods of Monitorir￿ Complian￿ wilh such policies
reviewing trustee minutes lo identrfy any instances of non<ompliance.
The senior slalut¢yy auditor led 8 discuss*)n ￿th senior members of the engagernent team regarding the
susceptibility of the enttys financial statements to Material misstatement. induding how fraud might occur. The
areas identrfied in th*s discussion were".
Manipulation of the financial statements. especially revenue. via fraudulent ioumal entr*s
These areas were communieated lo the other members of the engagement team not present at the dI￿￿$S1On.
The procedures we carr￿d out lo gain ewdence in the above areas included."
Substantive work on material a￿$ affecting profits.
Testing joumal en1r￿s. focusing particularly on postings to unexpected or unusual accounts.
Page 21

TORMEAD LIMITED
IA Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TORMEAD LIMITED {CONTINUEDI
A further desCript￿n of our respons￿1]i￿eS is available on the Financkal Reporting Council's website al..
wMv.frGorg.ukl8uditorS￿sponslbi1rt1es. This description fonns part of our audrtorfs report.
Use of our rep)rt
This report is made solely to the Charitsble Ctxnpanls members, as a body. in accordance wilh Chapter 3 of
Part 16 of the CoMpan￿S Act 20C6. Our audrt work has been undertaken so that we might state to the
Charitable Company's member5 those malters we are required lo slate to them in an audilor.'s report and for no
other pU￿oSe. To Ihe fullest extent permitted by Law. we do not accept or assume responsibility lo anyone other
than the Charitable Company and the Chanlable Companys M￿berS as 3 bcKty. for wr audit work, for this
report, or for the ¢Jpinions we have fomied.
Jeffrey Selden Isenior StatutoryAudrtorl
for and on behalf of
Nexia Smith & Williamson
Chartered Accountants
Statutory Auditors
Onslow House
Onslow Street
Guildford
GU1 4TL
Date.. 1011212021
Page 22

TORMEAD UMITED
IA Company Limited by Guaranlee)
STATEMENT OF FINANCIAL AcllvtTIES IINCORPORA71NG INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 AUGUST 2021
Unrestricted
funds
2021
Restricted Endowmenl
funds
funds
2021
2021
Total
funds
2021
Total
funds
2020
Note
Income and
endowments from:
Donations and legacies
other income
70.284
191.881
10.337.211
70,284
191.881
10.337.211
125. 715
197,972
9. 792.822
School fees
Income fr(xn
InVestn￿nIS
1.279
1.808
5,703
Total income and
endowments
Expenditure on:
Charitable activrties
10,599,90S
1.279
10,601,184
70. 122,212
9.657.306
9,657.306
9,518.982
Total expenditure
9.657.306
9.657,306
9,518.982
Net movemenl in
funds
Reconciliation of
funds:
Total funds brwghl
foNard
Net movement in funds
942.S99
1,279
943.878
603,230
15.522,965
942,599
5,283
119.000
15.647.248
943.878
15.044,018
603.230
Total funds earned
forward
16,465.564
119,000
16.591.126
15,647,248
There are no recognised gains or losses in erther period other Ihan the surplus sh¢M) above.
All amounts relate to continumg operations.
Page 23

TORMEAD UMITED
IA Company Limited by Guarantee)
REGISTERED NUMBER: 00485947
STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2021
2021
2020
Note
Fix•d assets
Tangible assets
14
15.998.593
76,671,476
15.998,593
16.671.476
Current assets
Debtors
Cash at ba￿( and in hand
15
455,084
S.221.484
349,831
3. 710.235
5,676.$68
4,060,066
Creditors" amounls fallin9 tlue vithin one
year
16
(1.425.869)
(1,210,511)
Net current assets
4.250.699
2.849,555
Total assets less Curront liabililies
20.249.292
19,52t.031
CrediloTS'. amounts falling due after more
than one year
17
13.658.166)
{3,873, 783)
Total net assets
16,591.126
15,647,248
C￿rity funds
Endowment funds
Restricted funds
UnrestrKted funds
19
19
19
119.000
6,562
16.465,564
119.000
5,283
15,522,965
Total funds
16.591,126
15,647.248
Page 24

TORAIEAD UMITED
{A Company Limited by Guarantee)
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2021
The Trustees acknowledge their responsibiif(ies for complying %Mth the reqUI￿￿nIS of the Ad wth respect to
accounting records and preparatIC￿ of financial sL*ement$.
The financial statements were approved and authorised issue by the Trustees and signed on their behaw by..
I￿￿•￿￿￿tr.%5G￿T)
.xIJ 1I4JGlI71
R Harris
{Chair of Trustees)
R J Jewkes
{Chair of Finance and General Pu￿e$)
Date.. 8 Oecember 2021
The notes on pages 27 10 43 fomi part these financial ststements.
Page 25

TORMEAD LIMITED
{A Company Limited by Guaranieel
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2021
2021
2020
Note
Cash flows from operating activities
Net cash used in c¥)eraling activrt*s
21
2.017.986
1.683,033
Cash flows from investing activities
Investment incLyne receipts
Purchase of tangib￿ assets
1,808
(220.190
5, 703
(277.902)
Net cash used in investing activities
1218.382)
{272,1991
Cash flows frcwn finan¢lng a¢tlvl¢les
Finan￿ costs paid
Bank loan repayments
{80.1891
1208.1661
(142,639)
(161,802J
Net ¢ash used in financing activities
1288,3551
1304.4411
Change in Cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
1.511,249
1.106.393
3.710.235
2,603.842
Cash and cash equivalents at the end of the year
22
5.221,484
3. 710.235
Page 26

TORMEAD UMITED
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEPJENTS
FOR THE YEAR ENDED 31 AUGUST 2021
General inlorTnation
The Schtx)l L% a wi5tered charity and a private cL)mpany lirnited by guarantee wi¢orporated in England
and Wales. The members of the Charrtable Company are the Trustees named on page 1. The registered
office is Tomiead School, Cranley Road. Guildf(¥d. Surrey. GU1 2JD. In the event of the Charitable
Company being wound up. Ihe liatslty in resk)ecl of Ihe guarantee is lirnited lo £1 per member of the
Charitable Company.
The Scho)I functional presentationa currency 1$ GBP.
Accounting policies
11 Basis of preparation of financial statements
The financial statemenls have been prepared in accordance ¥wth the Charities SORP IFRS 1021
Acccyjnling and Reporting by Chanties.. Stalement of Recommended Practice applicable to charities
preparing their accounts in accordance wrth the Finanaal Rep¢Yting Standard applicable in the UK
and Republic of Ireland IFRS 1021 (effeth"ve l January 20191, the Finanaal Reporting Standard
8pplicable in the UK and Republ￿ of Ireland IFRS 102} and Ihe Companies Act 20C6.
Tomiead Limiled meets the definition of a public knefft entity under FRS 102. Assets and liabilities
are initially recognised at historical cost or transaction value un￿S otherwise stated in the relevant
accounting poI￿y.
2.2 Going concern
There are no material uncertainties aljout the School's ability lo continue as a goin9 concem. In
reaching this condusion. Ihe Trustees have considered, amongst other5, the initial and ongoing
effects of the Covid-19 pand￿lie.
2.3 Income
Income is recognised when the charrty has entitbement to the fijnds. it is probable that Ihe income will
be received and the amount can be measured reliably. Fees receivable arsd charges for services and
use of prernises are accountefj for in the pericKJ in wh￿h the seNce is provided. Fees receivable are
staled after deducting allowances, scholarships and other rernissions granted by the School. Income
from govemment grants is recognised when the charrty has entitlement to the funds. any
perfomiance C¢)ndrtions attathed to the grants have been met. rt is probab￿ that the income wll be
ceived 8nd the amount Can be measured reliabty and is not deferred. The School received
governmertt grants in respect of the Coronavinjs Job Relenlhjn Scheme for furloughed non4eaching
stsff.
Page 27

TORMEAD UMITED
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
Accounting policies (continued)
2A Expenditure
Expenditu￿ is accounted for on an accruals b¥sis. Overhead and other costs not directly attributable
to part￿ular fvnctional adivrty categories a￿ appo￿oned over the ￿levant Categories on the basis of
management estimates of the amount attributsble to that activity in the year. either by reference lo
staff time or other methcKI deoned appropriate. The irrecoveoble element of VAT is included with
the rtem of expense to which it relates, %Mih the exception of purchases made by the subsidiary where
VAT is excluded fr(￿ the SOFA.
Governance costs cornprise intemal and exiemal audit. any costs of meetings of the trustees, and all
the costs of complwng y￿h constituts.onal and statutory reqU1￿mentS such as preparation of statutory
accounts. These are included wrthin sup￿1 costs.
2.5 Tangible fixed assets and depreciation
AJI items are capitalised provided they meet the definrtion of a fixed asset. and are recognised when
future economic benefrts are probable and the cost ￿ vahje of the asset can be measured reliably.
Tangible fixed assets are inttially recognised at cost_ After recognition. under the cost model, tsngible
fixed assets are measured at ￿$1 less ac¢umulated depreciation and any a￿Mulated impairment
losses. All costs incurred to bnng a tangible fixed asset into its intended working condition should be
induded in the Measu￿nent of cost.
Depreciation is charged so as to alb¢*e the cost of tangible fixed assets less their residual value
over their estimated useful Iwes. using the slraight-line method.
l)epreu'8tiM is pro￿￿ed on the fdlow.ng bases."
Freehold land
Freehdd buildings
On a stra￿ht4lne basis over 10-25 years once
they have come in to use
On a straKJhl-line basis over 5 years
On a $tra￿ht-1ifie basis over 3 years
Fixtures and fittrngs
Computef equipment
2.6 Debtors
Trade and other debtorB are recognised at the settlernent amount alter any trade discount offered.
P￿paYYnents are valued at Ihe amount prepaKJ net of any trade d￿￿UnIS due.
2.7 Cash at bank and in hand
Cash 81 bank and in hand indudes Cash and short-term highty liquid investments wth a short maturty
of three months or less IrLYn the date of acquisrtK)n or r4*ning of the deposit or simil* account.
Page 28

TORMEAD UMITED
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
Accounting pollcies Icontsnuedl
2.8 Liabilities and provisions
Liabilities are re¢cgnised when there is an obligatw * the statement of ffinanctal posltton date as a
result of a past event. it is probable th* a transfer of economic benefit will be required in settlement,
and the amwnt of the setllement ￿ be estimate¢J reliably.
Liabil((ies are recc*3nssed at the amount that the Charitable Company anticipates rÉ will pay tD settle
the debt or the amount rt has receNed as advanced payments for the 9OC•Js or servi￿$ rt must
provide.
2.9 Flnan¢ial instwments
The Charitsble Company onty has finanual assets 8nd ffinancial liabilit*s of a kind that qualify as
basi¢ financial instwments. Basic financial instnjments are Init￿lty recognised al transaction value
and subsequentty measured at their settlement value wrth the ex￿p[KIn of bank loans which are
subsequently measured at amortised ￿st using the effethve interesl methc¥J.
2.10 Fund accounting
Unrestrthd ftjnds a￿ availaljk to spend on actmties that further any of the purposes of ¢harty.
Restricted funds are donations which the dOr￿r has specrfth a￿ to be solely used for particular
areas of the school's Endctwment fvnds a￿ ￿$tr￿￿ed capital fvnds %thich cannot be spent by
the school.
2.11 Finance and operating leases
Leases are classffied as finance leases whenever the terms of the lease transfer substantially 811 the
risks and rewards of ownership to the lessee. Al other leases are Classthed as operating leases. At
the statement of financial position date all leases a￿ dassified as operating leases.
Rentals payable under operating leases are charged lo profil or loss on a slraKJht-line basis over Ihe
term of the relevant lease. Benefrts received and receivable as an incentive to enter into an q)erating
lease are also spread on a straight-line basis over the lease term.
2.12 Employee benefits
Short temi employee benefits induding hobday pay and annual bonuses are accrued as sermces are
rendered.
The Charitable Ccynpany cLMtriixrtes lo the government's Teachers, Penskjn Seheme. a defir*d
benefit scheme. However, the Chantable Company's Iiabilty to the scheme is limrted to the extent of
contributions payable. Contributions are charged through the Statement of financial activrties when
they are In￿rTed an*Y relate to unrestncted fvnds.
Please see ncAe 24 for detsils of conlribulions paid.
Page 29

TORMEAD LIMITED
(A Company Llmited by Guarnnteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
Key sources of estimation uncertainty and judgements
The preparation of financial slatements in confomity with generally accepted accounting practice requires
management lo make estimates and judgements that affect the reported ￿noun1S of assets and liabilrties
as well 8s the disdosure of contingent assets and liabilitses at the b8L4nce sheet date and the reported
amounts of revenues and expenses during the reporting peri¢yJ.
Key accounting eslimates and assunwtic￿s
Fixed assets..
The annual depreaation charge for tsngible assets is sensitive to changes in the estimated useful
e￿n(￿niC lives and residual values of the assets. These are re-assessed annual￿ and amended when
necessary lo reflect cur￿n1 estimates. See accounting ￿)1￿ 2.5 and note 14.
Income from donations and governrnent grants
Unrestricted End¢)wment
funds
fvnd$
2021
2021
Total
funds
2021
Donations
GOvernt￿nI grants
31,252
39.032
31.252
39.032
70,284
70.284
un￿stricted
funds
2020
Total
funds
2020
Government gfanls
125, 715
125,715
Page 30

TORMEAD UMITED
(A Company Limited by Guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
Other incorne
Unrestricted
funds
20
Total
funds
2021
Registration fees, mmbursed di5tmjrs￿nents and sundry income
191,881
191,881
Unrnslncted
funds
2020
Total
funds
2020
Registrat￿1n fees, reimbursed disburswnents and sundry incon
197,972
197,972
Income from charitable a¢iivities
School fees
Unrestricted
funds
2021
Total
funds
2021
The School fee inco￿￿ comprised..
Gross fees
Less" Bursaries
Scholarships
Staff discounts
Sister discounts
Advance fee discLwnt
11,238.349 11.238,349
1589,8001
{589.8(101
1272.2381
{212.2381
174,0721
{74,0721
(22.161)
{22.1611
(2,867)
(2.8671
10.337,211 10,337.211
Page 31

TORMEAD UMITED
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
Income from charitable actSv•ties Icontlnued)
(continued)
UntBsliycled
nds
2020
Total
funds
2020
Gross fees
Less.. Bursaries
Scholarships
Staff discounts
Sister discounts
Advance fee discounl
10.542,840 10,542,840
(486.037)
1486.037)
(185,987J 1185.987J
(51, 114J
(51, 114)
(23,487J
(23,487J
13,393J
{3.393J
9. 792.822
9, 792,822
lllvestment income
Unrestricted
funds
2021
Restricted
funds
2021
Total
funds
2021
Bank interest recewable
529
1,279
1,808
Unresliicted
lunds
2020
Restiicted
funds
2020
Total
funds
2020
Bank interest r￿1Vable
1.203
5. 703
Page 32

TORMEAD LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
Net income
2021
2020
Net incorne Is stated after charging
Depreciation of tangible fixed assets
Operating leases payrnenls- other
Auditorfs remuneration".
Statutory audit
Other assurance services
Other services
893,073
53.757
955.588
30. 182
21.390
1.170
13,140
24,9t4
1,110
14,975
982.530
1,026, 769
Taxation
charity, the Sch￿1 is exempt from tax ￿ income and gains in accordan￿ with current tax
legislation to the exlenl that these are appligj to its ¢haritatk obJ'e¢ts. No tax charges have arisen in the
Chaty.
Page 33

TORMEAD UMITED
{A Company Limited by Guaranleel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
10. Anatysis of expenditure on Charitsble a¢tiVbt
Total
funds
2021
Staff costs
2021
Other Depreclatlon
2021
2021
Teaching Costs
Welfare
P￿miseS
Support costs (note 11}
Finance costs (note 121
5.347,547
86,206
220,605
379.578
480,849
362.183
1.011.211
773.471
102,585
29,611
29.124
830,130
4,206
5,858.007
477.513
2.061,946
1.157.255
102.585
6,033,936
2,730.299
893.071
9,657.306
Total
funds
2020
Staff costs
2020
Otljer Depre￿8¢10￿
2020
2020
Teaching costs
Welfare
Prernises
Support costs Inote 11)
Finance eLtsls (r￿ 12)
5.468.390
77,896
2￿.973
382.421
499.242
341,877
751,669
672,820
168, 166
71,214
41,208
841.829
1,337
6,038, 846
460,92t
1, 794,471
1,056,578
168, 166
6, 129,680
2.433, 714
95&588
9,518,982
Page 34

TORMEAD UMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
11. Support costs
2021
2020
Wages and salaries
Travel costs
Legal and profess￿)nal
Bcd(s. joumals and IT cl￿tS
Insurance
379,726
321,283
102,122
27.928
2S.903
269,265
4,206
26,822
382,421
306,318
110,355
24, 709
24,9&1
180.974
1.337
25,514
Other offi¢e ￿$ts
Depreciation
Governance eosts
1,157,255
1.056.578
12.
Finan¢e costs
2021
2020
Interest on bank loans 8nd overdraft
Bad debt charge
90,189
12,396
142.639
25,527
102,585
768, 766
Page 35

TORMEAD LIMITEO
{A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
13. Stsff costs
2021
2020
Wages and salaries
Social Se￿IltY costs
Contribution lo defined c￿tribut￿)n pensi￿ schwmes
4.669.526
483,856
880,554
4, 754,458
499, 129
875,493
6,033,936
6, 129,680
The average number of persons enwoyed by the School during the year was as fe41ows.'
2021
No.
2020
No.
Head
Teachers
Oomestic
Administralion
87
94
104
110
The number of empbyee$ whose em￿ee tenefits lex¢luding empknyer pension costs) exceeded
£60.000 was
2021
No.
2020
No.
In the band £60.0(￿- £69,999
In the band £70,OIX)- £79,999
In the band £80,000- £89.999
In the band £110,1]00- £119,999
In the band £160.000- £169,999
In the band £190,000- £199.999
The key management personnd of the charity cc*nprise the truslees. the Headrnislress and the Bursar.
The total employee benefrts of the key management personnel of the charty vftre £337,162 (2020 -
£362,374)
None of the trustees received any remuneration. benefrts or reimbufsed expenses from the School (2020
- no Imslee was ￿l￿bu￿ed fortrdvel expenses).
Page 36

TORMEAD UMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
14. Tangible fixed assets
Freehold
land & Fixfvres and
buildings
fittings
Computer
equipment
Total
Cost or valuation
Al 1 September 2020
Additions
Disposals
22.474,237
78.014
1518.127
118.224
19.1831
859,365
23.952
25,851,729
220.190
19.1831
At 31 August 2021
22.$51251
2.627.168
883,317
26.062,736
Depreciation
At 1 September 2020
Charge for the year
On disposals
5.982,988
780.898
2,35S,240
95,518
{9.183)
842,025
16,657
9.180,253
893,073
19,1831
At 31 August 2021
6.763.886
2.441.57S
858.682
10,064.143
Net book value
At 31 Au9USt 2021
15,788.365
185,593
24,635
15,998,593
At 31 August 2020
16,491.249
162.887
17.340
t6,671.476
The School's land and buildings were valued by King Sturge & Co al 10 December 1999 at £6,975.000.
The valuatK)n has not been in¢￿ded in these financial statements_ Since the d*e of valuation the school
has invested a fvrther £16,973,077 in land and buildings.
15. Debtors
2021
2020
Due within one year
Fees ar￿ disbursements recoverable
Other debtors
Prepayments and accrued income
94.001
26.403
334.680
19. 716
9.276
320.839
455,084
349,831
Page 37

TORMEAD UMITED
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
16. Creditors: Arnounts falling due wilhin one yèar
2021
2020
Bank loans
Trade creditors
Other tsxalion and social swjrrty
Other credrtors
Accruals and deferred in￿ry
212,936
309.945
143,802
81.892
677.294
208, 165
236. 120
149,470
72. 151
544.605
1,425,869
1,210.511
17. Creditots: Amounts falling due after more than one year
2021
2020
Bank loans
Accruals and deferred incLNne
3.206,845
451.321
3,419, 782
454.001
3.658,166
3.873, 783
Bank loans of £3,419.781 (2020- £3,627.947J are secured against the freehold property of the Charitable
Company. The net book value ofthe assets secured is £15.788.365 12020- £16,491,249J.
Included in non-currenl bank loans of £3,2¢A.845 (2020- £3,419, 781) is £2.306.271 (2020- £2.539.OLX))
which falls due after five years or nN)re frL*n Ihe ststement of finanual px)sits"on date.
In June 2020, the Schoof negotiated a new ffixed rate loan at a rate (rf 2.281 %, repayable in instslments
over 8 1 &year temi.
18. Deferred income
2021
2020
Balance al 1 SepterY&)er
Amount release<l to inc4yning resources
Amount deferred in the year
440.865
{344.3551
475.753
496.958
(359.616)
303.523
8alance al 31 August
572,263
440.865
Deferred income comprises fees paid in advance in resped of the Autumn 2021 tem) and amounts paid
into advance fee s¢heme$ in respect of turt￿ fees in future years.
Page 38

TORMEAD UMITED
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AiIGUST 2021
19. Statement offunds
Statement of funds - current year
8alance at 1
September
2020
Balance at
31 August
2021
Income Expenditure
Unrestricted funds
General Funds- all funds
15,522,965 10.599,905 19,657,306) 16.465.564
Endowment funds
Endowment Fund
119.000
119,000
Restri¢tsd funds
Reslricted Funds
5.283
1,279
6,562
Total of lunds
15.647,248 10,601.184 19,657.306) 16,591.126
The Marian Shackleton endowment was donated to provKle the School with interest income. This interest
is accounted for in the Marian Shackleton restricted fund. These funds are used for awarding educational
travel scholarships to pupils at Ihe Sthcd.
Page 39

TORMEAD LlkllTED
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
19. Statement of funds {continuedl
ststement of funds- prior year
Balan￿ 81
1 Septembei
2019
Balar￿e al
31 August
2020
Income Expendilu
Unrestricted fvnds
General Fund5- al funds
14.920, 188
12. 777
15,522.965
Endowment fvnds
Endowment Funds- all funds
t19,Lk
119.OCIg
Restricted fund5
Marian Shackleton fund
(T￿)
5.283
Total of funds
15,044.018
603,980
(750) 15.647.248
20. Analysis of net assets between fvnds
Analysis of net assets between funds - current year
Unrestricted
funds
2021
Restricted Endowment
funds
funds
2021
2021
Total
funds
2021
Tangible fixed assets
Current asset5
C￿ditOrS due thin one sear
Creditors due in m￿e than one year
15.998,593
5.551.0
(1.425,8691
{3.658.166)
15,998,593
5.676,$68
{1.425.8691
{3.658.1661
6.562
119,000
Total
16.465.564
6.562
119,000 16.591.126
Page 40

TORIAEAD UMITED
IA Company Limited by Guarantea)
NOTES TO THE FINANCIAL STATEMENTS
FOR TNE YEAR ENDED 31 AUGUST 2021
Analysis of net assets bel**en funds Icontinuedl
Analysis of net assets between funds- prior year
Un￿st￿ted
funds
2020
Restiicted Endowmenl
fvnds
funds
2020
2020
Tol81
funds
2020
Tangible fixed asset5
Current assets
Cre¢Jitors due wthin one year
Creditors due in miye than year
76.671.476
3.935.783
11,210.511)
13.873, 783J
16,671.476
4,060,066
(1.210,571)
(3,873, 783)
&283
119.0￿]
Total
15,522.965
5,283
119,(XXI
15,647,248
21.
Reconciliation of net movement in funds to net cash flow frorn operating activities
2021
2020
Nel income for the year {as per Ststefflent of Financial Actiwtiesl
943.878
603.230
Adjustments for:
Add.. Bank interest payable
Less.. Bank interest receivable
Decrease in debtors
Decrease in credrtors
Depreciation Charges
80,189
11,808
{105,253
207.907
893.073
142.639
f5. 703)
12,795
(25,516)
955.588
Net ¢a$h provided by operating activities
2,017.986
t.683,033
22. Analysls of cash and eash equivalents
2021
2020
Cash in hand
5.221.484
3, 710,235
Total Cash and cash equivalents
5.221.484
3,710,235
Page41

TORIAEAD LIMITED
IA Company L•mited by Guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 31 AUGUST 2021
23. Analysis of changes in net debt
Other non-
cash
changes
At
31 August
2021
1 September
2020 Cash flows
Cash at bank and in hand
Debt due wthin 1 year
Debt due after 1 year
3.710.235
1208.1651
{3,419,782)
1.511,249
208,166
5.221,484
1212,937) 1212.9361
212,937 {3,206,8451
82,288
1.719A15
1.801.703
24.
Pension commitments
The School partici)ales in the Teachers, Pension Scheme rthe TPS") for its teaching staff. The pension
charge for the year indudes contribulions payable to the TPS of £781.3CK] (2020- £878, 189).
The TPS is an unfunded multi*mployer defined benefrts pension scheme govemed by The Teachers,
Pensions Regulations 2010 las amended) and The Teachers. Pension Scheme Regulations 2D14 {as
amended). Members contribute on a "pay a5 you go. basis wf(h contributions from members and the
employer being credited to the Exthequer. Retirement and other penS￿n benefrts are paid by public fijnds
provrded by Parfiament.
The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by
the Govemmenl ActUa￿S Department. The rnosl recent actuarial valuation of the TPS was prepared as al
31 March 2016 and the ValUalK￿ Report, which was published in March 2019. confirmed that the
employer contribution rate for the TPS would increase from 16.40A lo 23.60A frorn 1 September 2019.
Employefs are also reqlli￿ to pay a Sch￿￿ administration kn of 0.08% gtwng a total employer
contributKJn rate of 23.68%.
The 31 March 2016 Valuatson Report was prepared in accordance wtth the benefits set out in the scheme
regulations and under the approach specffied in the DireclKJns, as they applied al 5 March 2019. However,
the assumptions We￿ considered and set by the Department for Education prior lo the ruling in the
'McCloudlSargeant case,. This case has required the courts to wnsider cases regarding the
implementation of the 2015 refomis to Publi¢ Service Pensions including the Teachers, Pensions.
On 27 June 2019 the Supreme Court deni￿ the govemment pemiission to apr￿1 the Court of Appeal's
judgment that Iransrtional proVis￿anS introduced to the refom)ed pension schemes in 2015 gave rise to
unlavAul age discrimination. The govemment is respecling the Court's decision and has said il will engage
fully with the Employment Tribunal as well as empk)yer and member representative5 to agree how the
discrimin3tKJns will be remedied_ A consuttab'on was launched by the govemmenl on 16 July 2020. and
closed to responses on 11 October 2020.
Page 42

TORMEAD UMITED
(A Company Limiied by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
24.
Pension commltments Icontlnued)
The rps is subjecl to a cost cap mechanism ￿lCh was put tii place lo protect taxpayers against
unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced
th* there woukl be a remew of this cost cap mechanism, in January 2019 announced a pause lo the cost
cap mechanism following the Court of Appeal's ruling in the Mccloudlsargeanl case and until there is
certainty about the Wdlue of pensions lo empwes from April 2015 onwards. The pause lrfted in July
2020 and the govemmenl is prepanng to complete the cost control element of Ihe 2016 valuations, which
is expected to be c(mpleted in 2021.
In view of the above ruling$ and decisiorts the assumptions used in the 31 March 2016 Actuarial Valuation
may become Inapproprkale. In this scenario. a valuation prepared In accordance with revised benefits and
suilabty revised assurnplions would yield different results than those contained in the Actuarial Valuation.
Until the consuftation and the cost Cap mechanism review are eompleted rt is not possible to conclude on
any financial impacl or future changes lo the contribution rates of the TPS. Accordingly no provision for
any additional past benefrt pensK)n costs is indude(J in these financial Stst￿entS.
25. Financial Commitments - lease disclosures
The School had the folbwing commitments with respect to operating ￿ase5. The future minimum ￿ase
payments under non-cancellable leases are as follows..
2021
2020
Payments due:
Within one year
After one year and not later than fve years
103,528
158,360
48,248
,931
261.888
99,179
During the year. the Sch￿1 paid £53,757 (2020- £30. 182) in relth.on to operating leases.
26. Related party iransactions
Two governor5 have daughters who attend the sch(￿ and pay fees Wi accordanee wlh published rates.
One child is in receipt of a 50A s¢hola¥ship.
27. Controlling party
The director5 do not conshler there to be an uAim8te conlrolling paty.
Page 43