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||||||Page|
|---|---|---|---|---|---|
|Reference and Administrative|||Details ofthe Company,|its Trustees and Advisers|1-2|
|Trustees'
Report|||||3-15|
|Trustees'
Responsibilities
Statement|||||16|
|Independent|Auditor's|Report|on the Financial Statements||17-20|
|Statement of|Financial|Activities|||21|
|Statement of|Financial|Position|||22-23|
|Statement of|Cash Flows||||24|
|Notes to the|Financial|Statements|||25-43|
|Trustees|||R Harris BAACA, Chair||||
|---|---|---|---|---|---|---|
||||A L Cull.um BA PGCE NPQH+||||
||||R Finnan BSc(Hons) MRICS
*(appointed||1October 2022)||
||||SA Geary* (resigned 30October 2022)||||
||||M Howse LLB*||||
||||KJefferies MBBSMSc MRCPsych
+(appointed|||1October 2022)|
||||RJJewkes BEng FIE Aust* (resigned|31January 2022)|||
||||Dr C M Kissin MB ChB MRCP FRCR+ ~||||
||||Prof G Mil.ler BScMSc PhD PGCE+||||
||||SG Newnes-Smith
ACA*||||
||||PJ O'Keefe RIBA MCIOB MIMgt*||||
||||A R CSpender BScFIA+||||
||||FThompson
LLB(appointed
25 October||2022)||
||||J CWatkins
FCA+||||
||||Dr C Zagorski
MB BChir FRCR MA (Cantab) (appointed 10ctober 2022)||||
||||*Members ofthe Finance 8 General Purposes Committee||||
||||+ Members ofthe Academic Committee||||
||||~ Designated
Safeguarding
Governor||||
|Company|registered||||||
|number|||00485947||||
|Charity registered|||||||
|number|||312057||||
|Registered||office|Tormead||||
||||Cranley Road||||
||||Guildford||||
||||Surrey||||
||||GU1 2JD||||
|Bursar|||SLawton (resigned 8 February 2022)||||
||||JSharp MA (Cantab) ACA (appointed|8 February||2022, resigned 8August 2022)|
||||SLehrter
MA (Oxon) ACIB (appointed|9August||2022)|
|Head|||D Boyd MA (Oxon) MA (UCL) PGCE (Cantab)||||
|Independent||auditor|CLA Evelyn Partners
Limited||||
||||Chartered
Accountants||||
||||Statutory Auditor||||
||||Onslow House||||
||||Onslow Street||||
||||Guildford||||
||||GU1 4TL||||
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|||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|funds|
|||||2022|2022|2022|2022|2021|
||||Note||||||
|Income and|||||||||
|endowments||from:|||||||
|Donations
and|||||||||
|l.egacies|||4|3,759|||3,759|70,284|
|Other income|||5|478,568|||478,568|191,881|
|School fees|||6|11,294,701|||11,294,701|10,337211|
|Income from|||||||||
|investments||||694|13||707|1,808|
|Total income||and|||||||
|endowments||||11,777,722|13||11,777,735|10,601,184|
|Expenditure|on:||||||||
|CharitabLe activities||||11,003,984|||11,003,984|9,657,306|
|Total expenditure||||11,003,984|||11,003,984|9,657,306|
|Net movement||in|||||||
|funds||||773,738|13||773,751|943,878|
|Reconciliation||of|||||||
|funds:|||||||||
|Total funds brought|||||||||
|forward||||16,465,564|6,562|119,000|16,591,126|15,647,248|
|Net movement||in|||||||
|funds||||773,738|13||773,751|943,878|
|Total funds carried|||||||||
|forward||||17,239,302|6,575|119,000|17,364,877|16,591,126|
##
|||||STATEMENT OF|FINANCIAL|POSITION|||
|---|---|---|---|---|---|---|---|---|
|||||AS AT 31AUGUST 2022|||||
|||||||2022||2021|
|||||Note|||||
|Fixed assets|||||||||
|Tangible assets||||14||16,878,655||15,998,593|
|||||||16,878,655||15,998,593|
|Current assets|||||||||
|Stocks||||15|6,358||||
|Debtors||||16|686,573||455,084||
|Cash at bank|and|in|hand||5,479,572||5,221,484||
||||||6,172,503||5,676,568||
|Creditors: amounts|||falling|due within one|||||
|year||||17|(2,251,626)||(1,425,869)||
|Net current assets||||||3,920,877||4,250,699|
|Total assets|Less current|||Liabilities||20,799,532||20,249,292|
|Creditors: amounts|||falling|due after more|||||
|than one year||||18||(3,434,655)||(3,658,166)|
|Total net assets||||||17,364,877||16,591,126|
|Charity funds|||||||||
|Endowment|funds|||20||119,000||119,000|
|Restricted funds||||20||6,575||6,562|
|Unrestricted|funds|||20||17,239,302||16,465,564|
|Total funds||||||17,364,877||16,591,126|
##
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
||||||Note|E||
|Cash flows from operating|activities|||||||
|Net cash generated
from|operating|activities|||22|1,896,427|2,017,986|
|Cash flows from investing|activities|||||||
|Investment
income receipts||||||707|1,808|
|Purchase oftangible assets||||||(1,350,727)|(220,190)|
|Net cash used in investing|activities|||||(1,350,020)|(218,382)|
|Cash flows from financing|activities|||||||
|Finance costs paid||||||(75,383)|(80,189)|
|Bank loan repayments||||||(212,936)|(208,166)|
|Net cash used
in financing|activities|||||(288,319)|(288,355)|
|Change
in cash and cash|equivalents||in the|year||258,088|1,511,249|
|Cash and cash equivalents|at the beginning|||ofthe year||5,221,484|3,710,235|
|Cash and cash equivalents|at the end||ofthe|year|23|5,479,572|5,221,484|
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|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2022|2022|
|||E|E|
|Donations||300|300|
|Government|grants|3,459|3,459|
|||3,759|3,759|
|||Unrestricted|Total|
|||funds|funds|
|||2021|2021|
|Donations||31,252|31,252|
|Government|grants|39,032|39,032|
|||70,284|70,284|
##
||||||||Unrestricted|Total|
|---|---|---|---|---|---|---|---|---|
||||||||funds|funds|
||||||||2022|2022|
||||||||E||
|Registration|fees,|reimbursed|disbursements|and|sundry|income|478,568|478,568|
||||||||Unrestricted|Total|
||||||||funds|funds|
||||||||2021|2021|
|Registration|fees,|reimbursed|disbursements|and|sundry|income|191,881|191,881|
##
##
||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2022|2022|
||E||
|The School. fee income comprised:|||
|Gross fees|12,236,323|12,236,323|
|Less: Bursaries|(590,559)|(590,559)|
|Schol.arships|(224,182)|(224,182)|
|Staff discounts|(97,367)|(97,367)|
|Sister discounts|(25,572)|(25,572)|
|Advance fee discount|(3,942)|(3,942)|
||11,294,701|11,294,701|
||Unrestricted|Total|
||funds|funds|
||2021|2021|
|Gross fees|11,238,349|11,238,349|
|Less: Bursaries|(589,800)|(589,800)|
|Scholarships|(212,238)|(212,238)|
|Staff discounts|(74,072)|(74,072)|
|Sister discounts|(22,161)|(22,161)|
|Advance fee discount|(2,867)|(2,867)|
||10,337,211|10,337,211|
##
|||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2022|2022|2022|
||||||E|E|
||Bank interest receivable|||694|13|707|
|||||Unrestricted|Restricted|Total|
|||||funds|funds|funds|
|||||2021|2021|2021|
||Bank interest receivable|||529|1,279|1,808|
|8.|Net income||||||
||||||2022|2021|
||||||E||
||Net income isstated after charging||||||
||Operating|leases payments|||106,132|53,757|
||Auditor's|remuneration:|||||
||Statutory audit||||19,975|21,390|
||Accounts preparation||||2,255|2,050|
||Other|assurance|services||975|1,170|
||Other|services|||17,798|13,140|
||||||147,135|91,507|
##
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##
||||||Total|
|---|---|---|---|---|---|
|||Staff costs|Other|Depreciation|funds|
|||2022|2022|2022|2022|
|||E||E||
|Teaching|costs|5,787,714|850,471|52,072|6,690,257|
|Welfare||152,543|569,617|15,378|737,538|
|Premises||221,167|1,037,013|842,522|2,100,702|
|Support|costs (note 11)|419,272|928,079|7,434|1,354,785|
|Finance|costs (note 12)||120,702||120,702|
|||6,580,696|3,505,882|917,406|11,003,984|
||||||Total|
|---|---|---|---|---|---|
|||Staffcosts|Other|Depreciation|funds|
|||2021|2021|2021|2021|
|Teaching|costs|5,347,547|480,849|29,611|5,858,007|
|Welfare||86,206|362,183|29,124|477,513|
|Premises||220,605|1,011,211|830,130|2,061,946|
|Support|costs (note 11)|379,578|773,471|4,206|1,157,255|
|Finance|costs (note 12)||102,585||102,585|
|||6,033,936|2,730,299|893,071|9,657,306|
##
##
|Support costs|||
|---|---|---|
||2022|2021|
||E||
|Wages and salaries|419,272|379,726|
|Travel. costs|389,352|321,283|
|Legal. and professional.|119,948|102,122|
|Books,journals and ITcosts|31,043|27,928|
|Insurance|38,943|25,903|
|Other office costs|319,607|269,265|
|Depreciation|7,434|4,206|
|Governance costs|29,186|26,822|
||1,354,785|1,157,255|
|Finance costs|||
||2022|2021|
|Interest on bank loans and overdraft|75,383|90,189|
|Bad debt charge|45,319|12,396|
||120,702|102,585|
##
##
||||2022|2021|
|---|---|---|---|---|
||||E||
|Wages and|salaries||5,135,946|4,669,526|
|Social security costs|||534,674|483,856|
|Contribution|to defined contribution|pension schemes|910,076|880,554|
||||6,580,696|6,033,936|
||2022|2021|
|---|---|---|
||No.|No.|
|Head|1|1|
|Teachers|95|91|
|Domestic|9|7|
|Administration|9|8|
||114|107|
|2022|2021|
|---|---|
|No.|No.|
##
##
##
|||||||Freehold||||
|---|---|---|---|---|---|---|---|---|---|
|||||||land 8|Fixtures and|Computer||
|||||||buildings|fittings|equipment|Total|
|||||||E||E|E|
||Cost or valuation|||||||||
||At 1September|2021||||22,552,251|2,627,168|883,317|26,062,736|
||Additions|||||1,476,087|210,372|111,441|1,797,900|
||Disposals|||||(33,998)|(777,904)|(201,437)|(1,013,339)|
||At 31August 2022|||||23,994,340|2,059,636|793,321|26,847,297|
||Depreciation|||||||||
||At 1September|2021||||6,763,886|2,441,575|858,682|10,064,143|
||Charge for the|year||||790,156|87,152|40,098|917,406|
||On disposals|||||(33,998)|(777,472)|(201,437)|(1,012,907)|
||At 31August 2022|||||7,520,044|1,751,255|697,343|9,968,642|
||Net book value|||||||||
||At 31August 2022|||||16,474,296|308,381|95,978|16,878,655|
||At 31August 2021|||||15,788,365|185,593|24,635|15,998,593|
||The School's
land
and
F6,975,000. The valuation|||buildings
has not|were
been|valued
by
King
Sturge
8 Co at 10 December
1999 at
included
in these financial
statements.
Since the date of||||
||valuation
the School||has invested a||further|F18,449,164 in land and buildings.||||
|15.|Stocks|||||||||
|||||||||2022|2021|
||Finished goods|and|goods|for resale||||6,358||
##
##
|||||2022|2021|
|---|---|---|---|---|---|
|||||E||
|Due within one year||||||
|Fees and disbursements|||recoverable|94,109|94,001|
|Other debtors||||46,941|26,403|
|Prepayments|and accrued income|||545,523|334,680|
|||||686,573|455,084|
|Creditors: Amounts||falling due within one year||||
|||||2022|2021|
|Bank loans||||217,620|212,936|
|Trade creditors||||485,957|309,945|
|Other taxation|and sociaL security|||134,436|143,802|
|Other creditors||||59,241|81,892|
|Accruals and|deferred||income|1,354,372|677,294|
|||||2,251,626|1,425,869|
##
##
|||2022|2021|
|---|---|---|---|
|Bank loans||2,989,225|3,206,845|
|Accruals and deferred|income|445,430|451,321|
|||3,434,655|3,658,166|
##
##
|Deferred|income|||||
|---|---|---|---|---|---|
|||||2022|2021|
|||||E||
|Balance|at 1September|||572,263|440,865|
|Amount|released|to incoming|resources|(522,405)|(344,355)|
|Amount|deferred|in the year||579,324|475,753|
|Balance|at 31August|||629,182|572,263|
|Statement|o|ffunds
—current year|||||
|---|---|---|---|---|---|---|
||||Balance at 1|||Balance at|
||||September|||31August|
||||2021|Income|Expenditure|2022|
||||E||E|E|
|Unrestricted||funds|||||
|General Funds
—all. funds|||16,465,564|11,777,722|(11,003,984)|17,239,302|
|Endowment||funds|||||
|Endowment||Fund|119,000|||119,000|
|Restricted|funds||||||
|Restricted|Funds||6,562|13||6,575|
|Total offunds|||16,591,126|11,777,735|(11,003,984)|17,364,877|
##
|Statement|o|ffunds
—prior year|||||
|---|---|---|---|---|---|---|
||||Balance at|||Balance at|
||||1September|||31August|
||||2020|Income|Expenditure|2021|
|||||E|E||
|Unrestricted||funds|||||
|General. Funds
—al.l.funds|||15,522,965|10,599,905|(9,657,306)|16,465,564|
|Endowment||funds|||||
|Endowment||Fund|119,000|||119,000|
|Restricted|funds||||||
|Restricted|Funds||5,283|1,279||6,562|
|Total offunds|||15,647248|10,601,184|(9,657,306)|16,591,126|
|Analysis ofnet assets between
funds
—c|urrent year||||
|---|---|---|---|---|
||Unrestricted|Restricted|Endowment|Total|
||funds|funds|funds|funds|
||2022|2022|2022|2022|
|Tangible fixed assets|16,878,655|||16,878,655|
|Current assets|6,046,928|6,575|119,000|6,172,503|
|Creditors due within one year|(2,251,626)|||(2,251,626)|
|Creditors due in more than one year|(3,434,655)|||(3,434,655)|
|Total|17,239,302|6,575|119,000|17,364,877|
##
##
|Analysis ofnet assets between
funds|(continued)||||
|---|---|---|---|---|
|Analysis ofnet assets between funds|—prior year||||
||Unrestricted|Restricted|Endowment|Total|
||funds|funds|funds|funds|
||2021|2021|2021|2021|
|||E|E||
|Tangible fixed assets|15,998,593|||15,998,593|
|Current assets|5,551,006|6,562|119,000|5,676,568|
|Creditors due within one year|(1,425,869)|||(1,425,869)|
|Creditors due in more than one year|(3,658,166)|||(3,658,166)|
|Total|16,465,564|6,562|119,000|16,591,126|
|||||2022|2021|
|---|---|---|---|---|---|
||Net income for the|year (as per|Statement of Financial Activities)|773,751|943,878|
||Adjustments
for:|||||
||Add: Bank interest|payable||75,383|80,189|
||Less: Bank interest|receivable||(707)|(1,808)|
||Increase
in stock|||(6,358)||
||Increase
in debtors|||(231,489)|(105,253)|
||Decrease
in creditors|||368,441|207,907|
||Depreciation
charges|||917,406|893,073|
||Net cash provided|by operating|activities|1,896,427|2,017,986|
|23.|Analysis ofcash and cash equivalents|||||
|||||2022|2021|
|||||E||
||Cash in hand|||5,479,572|5,221,484|
||Total cash and cash equivalents|||5,479,572|5,221,484|
##
||||At 1||Other non-||
|---|---|---|---|---|---|---|
||||September||cash|At 31August|
||||2021|Cash flows|changes|2022|
||||||E||
|Cash|at bank and|in hand|5,221,484|258,088||5,479,572|
|Debt|due within 1year||(212,936)|212,936|(217,620)|(217,620)|
|Debt|due after 1|year|(3,206,845)||217,620|(2,989,225)|
||||1,801,703|471,024||2,272,727|
##
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|||2022|2021|
|---|---|---|---|
|||E||
|Payments|due:|||
|Within one year||101,803|103,528|
|After one|year and not later than five years|66,974|158,360|
|||168,777|261,888|
##
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