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2020-08-31-accounts

Company No. 00719947 Registered in England Charity No. 312063

LITTLE BOOKHAM MANOR HOUSE SCHOOL

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

LITTLE BOOKHAM MANOR HOUSE SCHOOL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

Contents Page
Governors, Officers and Advisers 1
Annual Report of the Governors 3
Strategic Report 8
Statement of Governors’ Responsibilities 17
Independent Auditor’s Report 19
Statement of Financial Activities incorporating an Income and
Expenditure Account 22
Balance Sheet 23
Cash Flow Statement 24
Notes to the Financial Statements 26

LITTLE BOOKHAM MANOR HOUSE SCHOOL GOVERNORS, OFFICERS AND ADVISERS YEAR ENDED 31 AUGUST 2020

GOVERNORS, DIRECTORS AND CHARITY TRUSTEES

The Governors of Little Bookham Manor House School (“the School”) are the School’s charity trustees under charity law and the directors of the charitable company. The members of the Governing Body/Board of Governors who served in office as Governors during the year are detailed below.

(1) (2) (3) (4) (5) (6)
Mrs G Sims-Brassett (Chair) ￭ * ￭ ￭
Mr CP Heath-Taylor (Vice-Chair) ￭ * ￭ ￭
Miss SE Clare ￭ * ￭
Mr C Forbes Appointed August 2020 ￭ ￭ * ￭
Mr DA Harris ￭ * ￭
Ms M Kieran ￭ * ￭
Ms C Owen ￭ * ￭
Dr MJ Richardson ￭ ￭ ￭
Mr MS Ruscoe Resigned August 2020 ￭ * ￭

OFFICERS

Mr AM Ellison

Clerk to the Governors, Company Secretary

EXECUTIVE OFFICERS

Ms T Fantham Headteacher Mr S Hillier Deputy Head Mr AM Ellison Bursar

PRINCIPAL ADDRESS AND REGISTERED OFFICE

Little Bookham Manor House School, Manor House Lane, Little Bookham, Surrey KT23 4EN

AUDITORS

Crowe U.K. LLP, 55 Ludgate Hill, London EC4M 7JW.

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LITTLE BOOKHAM MANOR HOUSE SCHOOL GOVERNORS, OFFICERS AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

BANKERS

Lloyds TSB Bank PLC, PO Box 18436, 2[nd] Floor, 39 Threadneedle Street, London EC2R 8PT Metro Bank PLC, One Southampton Row, London, WC1B 5HA

CCLA Investment Management Limited, COIF Charity Funds, Senator House, 85 Queen Victoria Street, London EC4V 4ET

HEALTH AND SAFETY

In House, The Old Church, 31 Rochester Road, Aylesford, Kent ME20 7PR

WEBSITES AND SOCIAL MEDIA

www.manorhouseschool.org

www.twitter.com/manorhseschool

www.facebook.com/manorhseschool

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LITTLE BOOKHAM MANOR HOUSE SCHOOL ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2020

The members of the Little Bookham Manor House School Governing Body present their Annual Report for the year ended 31 August 2020 under the Charities Act 2011, including the Directors’ and Strategic Reports, under the Companies Act 2006, together with the audited financial statements for the year.

REFERENCE AND ADMINISTRATIVE INFORMATION

Little Bookham Manor House School (“the School”) was founded in 1920. It is constituted as a company limited by guarantee and not having a share capital, registered in England, No. 00719947, and is registered with the Charity Commission under Charity No. 312063. The School is a selective independent day school for girls aged 4 to 16 with a coeducational nursery. Details of the members of the Governing Body, together with the School’s officers and principal advisers, are provided on pages 1 and 2.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing documents

The School is governed by a Memorandum of Association and Articles of Association. These were amended last on 23 November 2012 to record a name change from Little Bookham Manor House School Educational Trust Limited to Little Bookham Manor House School.

Governing Body

The Governing Body is self-appointing, with one-third of its members required to retire by rotation at each AGM. The longest in office must retire first and the choice between any members of equal service is to be made by drawing lots. Members retiring by rotation can be re-elected.

New members of the Governing Body are elected on the basis of nominations from the Governors and the executive officers based on the candidates’ professional qualities, experience, personal competence and the expertise needs of the Board and School.

Recruitment and training of Governors

New Governors are interviewed by the Chair and Vice-Chair of the Governing Body, are appointed by the Board of Governors, and are inducted by the Chair of the Board of Governors, the Headteacher and the Clerk to the Governors. New Governors are provided with an introductory pack, which includes the most important School documentation (Articles of Association, annual financial statements, minutes and reports) and information on being a trustee, director and school governor. Appropriate external training courses are provided for Governors by reputable professional bodies. The Headteacher provides regular Child Protection and Safeguarding training to Governors and Governors are requested to participate in the on-line safeguarding training that is completed by the School staff.

The Governing body brings together skilled volunteers with a wide range of experience in education, finance, health/medical, investment, law, pensions and recruitment. Nominations for new governors are continually sought to add to the pool of skills and

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LITTLE BOOKHAM MANOR HOUSE SCHOOL ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2020

experience available on the Board with key areas of interest being child protection and safeguarding, early years’ education, finance, marketing and property development.

Organisational management

The members of the Governing Body, as charity trustees, are legally responsible for the overall management and control of the School. The School’s Articles of Association require Governors to hold at least three meetings a year but the School’s Governors normally meet as a Board more frequently than 3 times a year.

The work of overseeing and implementing Governors’ policies is carried out by various committees, which meet before Board meetings and then present recommendations to the Board for its consideration. The Board recently amended the Committee structure and the work of the previous Finance and General Purposes Committee has been divided between two new Committees: the Education Committee and the Finance and Estates’ Committee. The Finance and General Purposes Committee has been disbanded and the revised Committee structure is now as follows:

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LITTLE BOOKHAM MANOR HOUSE SCHOOL ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2020

recommendations to the Governing Body for its approval. The Chair and Vice-Chair of the Governing Body review the remuneration of the School’s senior managers and they monitor the general effectiveness of the School’s remuneration practices and policy.

The day-to-day running of the School is delegated to the Headteacher who is supported by a Senior Leadership Team comprising the Deputy Headteacher, the Head of Early Years and Key Stage 1, the Heads of Key Stages 2, 3 and 4, the Head of Academic Development, the Bursar and the Director of Marketing. The Headteacher may attend all Committee meetings with the exception of the Nominations and Remuneration Committee, which individuals attend by invitation only. The Headteacher is required to attend the Education Committee, Finance and Estates’ Committee and Board meetings and is the lead in respect of Child Protection and Safeguarding. The Deputy Headteacher is invited to attend each of these meetings and is required to attend the Health and Safety Committee meetings. The Bursar attends all Governors meetings in the capacity of Clerk to the Governors.

The Headteacher and members of the Senior Leadership Team or staff are required to serve on any other committees set up by the Board from time to time. The Headteacher is an active member of the Girls’ Schools Association (GSA), the School is a member of the Association of Governing Bodies of Independent Schools (AGBIS) and the Independent Schools’ Council (ISC). The Bursar is the School’s representative in the Independent Schools Bursars’ Association (ISBA).

Remuneration is set by the Board, with particular attention to providing appropriate incentives to encourage enhanced performance and of rewarding fairly and responsibly individual contributions to the School’s success. Remuneration is reviewed annually as part of the budgeting process and includes a comparison, where possible, with other independent schools to ensure that the School remains sensitive to the broader issues of pay and employment conditions and, more importantly, remains capable of recruiting high calibre staff. Delivery of the School’s charitable vision and purpose is primarily dependent on key management personnel, and staff costs are the largest single element of charitable expenditure.

Related parties

The School has no subsidiaries and there is one related party, namely the Friends of Manor House School (FOMHS).

Employment policy

The School’s Recruitment and Selection Policy states clearly that the School is an equal opportunities employer. The School aims to select candidates on their ability to meet essential job requirements only, and it does not treat any job applicant less favourably than another by direct or indirect discrimination. The School has its own salary scale,

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LITTLE BOOKHAM MANOR HOUSE SCHOOL ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2020

which is applied consistently according to qualification and experience, but on occasion, additional responsibility points may be awarded in order to recruit and retain teachers in key subjects. One-off payments (honoraria) are used to recognise successfully completed short-term projects or responsibility engagements, which are a product of the School Development Plan.

Communication with employees continues through normal management channels in a variety of forms and on a regular basis. The Chair of the Board writes to staff about salary increases and to parents on fee increases. The Governing Body are prepared to convene appropriate meetings to deal with issues of critical importance should the need arise. This has been evident during the recent COVID-19 pandemic.

CHARITABLE OBJECTS, AIMS, AND ACTIVITIES

Charitable Objects

The School’s primary objects, as stated in the Articles of Association, are the advancement of education and, in particular, but without limitation, the promotion and operation of Manor House School, Little Bookham, Surrey, or any other schools, colleges, nurseries, or other educational facilities for the education of girls, and, if thought fit, for the education of boys, where they may obtain a general education of the highest standard, together with physical, moral and religious training, such religious training to be provided in accordance with the spirit and ethos of the Church of England but consistent with other creeds’.

Despite the School having no investments or endowments to support the award of scholarships, bursaries, awards and other benefactions, the foregoing remain a key focus of the Governing Body (“Board”) which is mindful of the long-standing need to provide public benefit and of the requirements of the Charities Act 2011. The Board continues to closely consider the guidance on public benefit produced by the Charity Commission, together with its supplemental guidance on the charging of fees.

Mission statement

The School’s mission is to develop confident young women with a passion for learning both within and outside the classroom, who believe in their abilities to learn and succeed, and who are eager to apply the skills and knowledge they have learned for their benefit and for the benefit of the wider community.

Intended impact

The School’s intention is to operate within its charitable objects and to provide a wellrounded education of the highest standard. Girls are enabled to learn together at their own pace, develop the confidence to take risks, choose any field of study without stereotypical influence, grow in emotional intelligence and show compassion for others while honing life and leadership skills for the future. Most importantly, the School’s intention is to develop happy, confident and successful young women.

Aims

The School’s strategic aims to assist it in meeting its public benefit commitment are:

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LITTLE BOOKHAM MANOR HOUSE SCHOOL ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2020

Public benefit

Manor House School remains committed to the aim of providing public benefit in accordance with its founding principles and to develop in our pupils an understanding of and willingness to assist those less fortunate than themselves.

The COVID-19 pandemic has severely restricted the School’s operations during the period of this report, and the School has been closed to external visitors for long periods. Nevertheless, the School has made its facilities available free of charge, and in the case of some joint ventures, at a reduced rate that covers administrative costs only. Some of these activities are detailed below:

The School is hopeful that Government restrictions to control the spread of COVID-19 will be eased during the period of the next report and the School will be able to support a full programme of events.

The Board views bursaries awarded to those who would not otherwise be able to afford an Manor House education as a valuable provider of diversity amongst its pupils, as well as a measurable means of providing public benefit. This year means-tested bursaries to the value of £120,273 were awarded to 18 girls (2019: £127,352 to 17 girls) with the value of individual bursaries ranging between 15% and 75% of the basic tuition fee (average of 45%) depending on the outcome of the means testing. Scholarships, awards, bursaries and other discounts totalled £423,352 (10.2% of gross fee income) and benefitted 85 girls (2019: £385,366 to 86 girls at 8.1% of gross fee income).

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Bursary information is widely advertised and is included on the School’s website. Information is available to all local state and independent schools in order to extend the awareness of the opportunities available to girls who would otherwise not be able to benefit from an Manor House education. Scholarships are not means tested and they are open to pupils from state or independent schools. The Board increased the value of academic and other scholarships in 2017/18, and awarded scholarships in Year 3 for the first time in 2018/19. The Board has maintained this increased level of scholarships during the period of the report.

STRATEGIC REPORT

ACHIEVEMENTS AND PERFORMANCE

Review of achievements and performance for the year

Despite a great deal of uncertainty about GCSE results in the build up to their release, the school was delighted to enjoy a very positive results day with the outgoing Year 11. The centre-assessed grades were adopted overall and the few adjustments that were made were positive. The School, therefore, maintained an upward trend in GCSE results.

86% of all grades were 9-6% 65% of all grades were 9-7%

97% gained 8 or more GCSEs including English and Mathematics

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LITTLE BOOKHAM MANOR HOUSE SCHOOL ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2020

Prep School End of Key Stage Results 2019-20

End of EYFS (Reception)

GLD (Good Level of Development – achieved Expected or Exceeding for the Early
learning Goals)		 GLD (Good Level of Development – achieved Expected or Exceeding for the Early
learning Goals)
All Areas 78%
Prime Areas 78%
Specific Areas 78%
Prime Areas % of girls achieving Expected and
Exceeding
Communication and Language 85%
Personal,Social and Emotional 89%
Physical 94.4%

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LITTLE BOOKHAM MANOR HOUSE SCHOOL ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2020

Specific Areas % of girls achieving Expected and
Exceeding
Literacy 89%
Mathematics 83%
Understandingthe World 89%
Expressive arts and design 89%

External Assessments

External Assessments
Subject % of girls achieving
national expectations		 % of girls exceeding
national expectations
English 89% 78%
Maths 89% 44%

End of KS1 (Year 2)

Teacher Assessments

Teacher Assessments
Subject % of girls achieving
national expectations		 % of girls exceeding
national expectations
Maths 93% 21%
Reading 93% 43%
Writing 93% 43%
Grammar 100% 64%
100% of Year 1girlspassed the Phonics ScreeningCheck

External Assessments

External Assessments
Subject % of girls achieving
national expectations		 % of girls exceeding
national expectations
English 100% 20%
Maths 100% 10%

End of KS2 (Year 6)

Teacher Assessments

Teacher Assessments
Subject % of girls achieving
national expectations		 % of girls exceeding
national expectations
Maths 88% 36%
Reading 89% 20%
Writing 73% 18%
Grammar 96% 55%

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LITTLE BOOKHAM MANOR HOUSE SCHOOL ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2020

External Assessments

External Assessments
Subject % of girls achieving
national expectations		 % of girls exceeding
national expectations
English 100% 50%
Maths 88% 29%

One of the School’s primary objectives is to offer a broad range of co-curricular activities, which develop character, resilience, creativity, and leadership skills. Covid-19 caused considerable disruption to the school calendar and planned events, however, the School was able to offer a comprehensive enrichment programme during the autumn term and the first part of the spring term as well as partially opening for Prep pupils during the summer term.

During the autumn term, all sports clubs and fixtures were offered as normal. Girls took part in the Shakespeare Festival and the School’s productions were adapted to meet social distancing regulations and live-streaming of the performance replaced performances to live audiences.

The junior swimming relay team reached the Surrey finals and the pupils and parent swim teams participated in the Rotary Swimathon raising money for the Guide Dogs Association just before the first lockdown. Lockdown impacted on most enrichment activities during the summer term although the Prep pupils returned to school over a 6 week period before the end of the academic year.

Tennis coaching continued to be offered and music and Lamda lessons were run virtually.

The Duke of Edinburgh scheme is thriving at Manor House under the guidance of a new manager who has risen to the challenge and introduced the Silver award to the already established Bronze award. There are no barriers to participation or level progression and in 2020/21 every girl in Year 9 chose to participate.

Fundraising performance

Fundraising was more challenging due to Covid-19 restrictions however, the annual MacMillan Breakfast went ahead during the autumn term and raised £2595.00.

The School does not undertake any fundraising for the direct benefit of the School. Nevertheless, our school community enjoyed fundraising and got involved in a range of charity fundraising activities supporting a range of different charities over the year including; MacMillan Cancer Research, Sports Relief, All Saints Church, Crisis at Christmas, The Queen Mother’s Clothing Guild and Guide Dogs for the Blind.

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The School has had no complaints about its fundraising activities and takes all necessary steps to protect vulnerable people from inappropriate fundraising approaches.

FINANCIAL REVIEW

Results for the year

The School expected a financially challenging year in 2019/20 and it forecast a significant deficit in response to a fall in pupil numbers (291 to 275) and increasing employment costs The Board agreed to withdraw from the Teachers’ Pension Scheme (TPS) and was implementing tighter budgetary controls, when the School was presented with the challenge of the COVID-19 pandemic. This resulted in the partial closure of the School during the summer term and reliance on a Virtual Learning Environment (VLE), which was developed at short notice.

The School reforecast its budget for 2019/20 and increased its deficit forecast to take account of a discount offered to parents for a disrupted summer term, an assumed loss of fee income due to the financial impact of the COVID-19 pandemic on parents and uncertainty about both further school closures and their likely duration, and the availability and longevity of financial assistance from the Government. The Board’s strategy was, first and foremost, to keep parents, pupils and staff safe, continue to deliver teaching and learning either remotely or face-to-face, cease all non-essential expenditure, and take advantage of any financial assistance offered by the Government.

The Boards strategy contributed to the School ending the current year with a deficit of £91K only, which is significantly below the initial forecast. The School has undoubtedly benefitted from cancelling non-essential expenditure, but it has benefited also from pupil numbers remaining stable at 275, the majority of parents managing financially to pay fees during the pandemic and Government assistance, in particular, the Job Retention Scheme (furlough) being available for an extended period of 5 months.

The School has had to manage parental accounts carefully during the year and some parents have been given additional time to pay fees due to the impact of COVID-19. Many more parents are paying fees by instalments as opposed to the beginning of each term and the School has increased its provision for doubtful debt by £75K during the year, although this is more of a precautionary measure than a necessity. Overall, gross debt has increased due to prepayments for school trips and outstanding Government grants, but School fee debtors have remained almost unchanged at £87K. School’s creditors have reduced by 7%.

The School did not receive any donations of note during the year, although it anticipates receiving a sizeable donation from the Friends of Manor House School in 2020/21. The

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LITTLE BOOKHAM MANOR HOUSE SCHOOL ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2020

Schools gross income fell by 8% during the year, because of falling pupil numbers, the absence of any donations, and a fall in income from lettings and outside functions caused primarily by the School’s closure in the summer term. Although the fall in income has increased employment costs as a percentage of income, the Board remains of the view that employment costs are too high and must reduce to levels more in keeping with the School’s size. The School withdrew from TPS on 31 August 2020, and replaced it with an affordable alternative the Aviva Pension Trust for Independent Schools. The teaching staff agreed to this change following a consultation process, and the School agreed to increase the teachers’ pay scales by way of compensation. This move will deliver a sustained reduction in employment costs in 2020/21, and further reductions will be identified, initially, through natural wastage.

The Board continued to implement a scholarship policy, aimed at retaining Manor House girls and to attracting top scholars from other state and independent schools. This policy increased the overall costs of discounts offered by the School and discounts including scholarships, bursaries, staff fee remission and special awards totalled £423,352.00, which was 10.2% of gross fee income. The Board is to review all discounts in 2021.

Levels of Reserves, Reserves Policy and Financial Viability

The School’s total reserves of £3,650,184 (2019: £3,741.044) at the year-end were all unrestricted in nature with free reserves of £548,165 (2019: £549,936) (general reserves less reserves represented by the net book value of fixed assets less associated funding arrangements).

The School’s reserves policy is to maintain sufficient unrestricted income reserves to enable it to meet its short-term financial obligations in the event of an unexpected revenue shortfall. The free reserves provide cover for up to 1.51 months’ (2019: 1.52 months’) operating costs but the future target is for one term’s (3 months) operating costs. In the interim, the Board is satisfied that the availability of external financing facilities provides an additional safety net, if required.

Going Concern

The Board has noted the School’s satisfactory performance in 2019/20 despite reduced income and the significant financial challenges presented by the COVID-19 pandemic. The Board has developed strategies to cope with further lockdowns and it is aware of the need to reduce its employment costs to a level commensurate with the size of the School. Notwithstanding the challenges, the Board is optimistic for the future and it believes there are no material uncertainties about the School’s current ability to continue. The Board acknowledges a number of events have occurred after the date of the balance sheet, which are covered below under ‘Looking Forward’. The Board believes that collectively these events reinforce the School’s ability to continue as a going concern.

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Looking Forward

The School withdrew from the Teachers’ Pension Scheme on 31 August 2020 and teachers have been enrolled in the Aviva Pensions Trust for Independent Schools. The School is taking every opportunity to reduce its employment costs, which is its principal expenditure. The Board of Governors and its Committees have been meeting regularly and remotely to respond to the COVID-19 pandemic, and a successful switch to a Virtual Learning Environment (VLE) during the initial Government lockdown in the summer term 2020 enabled the School to transition quickly to remote learning during the spring term 2021, when the School was again closed to all except the pupils of key workers and vulnerable pupils. The School reopened to all pupils on 8 March 2021.

The School is prepared for a reduction in pupil numbers as a consequence of the COVID19 pandemic and it is assisting parents impacted financially by COVID-19 with more flexible repayment plans. The Board has ensured that the School is capable of operating under COVID-19 restrictions for the remainder of the academic year 2020/21, and it has increased cleaning routines, adapted its lunch offering, encourages social distancing by both its pupils and staff, and conducts lateral flow testing for COVID-19 amongst its staff and senior pupils in accordance with Government guidance. It is hoped that these measures will enable the School to remain open to all pupils, although it has plans to revert to remote learning at very short notice. The Board has approved a 2% increase in school fees for academic year 2021/22.

PRINCIPAL RISKS AND UNCERTAINTIES

The Governors have reviewed the School’s risk register, and the Board identifies an unexpected fall in pupil numbers and a failure to control its employments costs as the two risks likely to result in a failure to deliver a trading surplus by 2022/23. In addition, the Governors are very conscious of the risk of any damage to the School’s good reputation and other risks, which are common to the independent education sector, such as the introduction of Value Added Tax (VAT) onto school fees and the removal of charitable status granted currently to independent schools. The Board is actively seeking to increase pupil numbers and it will reduce employment costs further over the next 2 years. The Board is alert to threats to the School’s reputation and it will look to mitigate these promptly and effectively. The Board will use the School’s membership of the various independent schools’ organisations to lobby against moves to introduce VAT on school fees or remove charitable status in the immediate to short term.

The School withdrew from TPS on 31 August 2020, which addressed the risk identified in 2018/19, of increases in the employers’ contributions to TPS being unaffordable beyond the immediate term. The Board had previously identified Brexit as a risk, but this has become a reality in the year, although the impact on the School is currently assessed as minimal. The School has increased school fees by 2% from 1 September 2021 to cover forecast increases in inflation. The Board will continue to monitor whether Brexit

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increases the current inflation forecasts although this is uncertain at this point in time. The Board will continue to monitor all other political risks, including the Government’s response to COVID-19, which could influence the future funding strategies for the School. Health and Safety is always a significant area for risk management and the risks range from fire and infrastructure failures, to personal risks (most notably when pupils are away from the School on trips). The School utilises external specialists to assist in ensuring that health and safety policies and practices are routinely reviewed, refined and implemented. The School agreed to change its advisers on 1 September 2020 from In House to Assurity Consulting, and as soon as it is able, Assurity Consulting will conduct a Safe Schools Assessment. The School has responded promptly and effectively to ensure that the School is currently a COVID-19 “safe” environment and it will continue to adapt its Health and Safety policies to ensure that the school remains a safe environment for parents, pupils and staff.

The School subscribes to and uses the eduFocus developed Evolve system for evaluating the risks associated with trips, residential visits and visits abroad and there is on-going staff training in order to maintain a constant state of readiness for any eventuality. Although trips and residential visits were severely curtailed by COVID-19, there were no serious health and safety issues during the year.

The School’s child protection and safeguarding policies are under continuous review and regular training is given to staff and Governors alike. The Staff is alert to any possible signs, which may indicate the existence of any potential risk in this regard. An “in-house” external expert provides advice and assistance with Child Protection and Safeguarding matters, and is available to counsel the girls and staff, if required. Again. COVID-19 has impacted the wellbeing of pupils and staff and everyone has had to adapt to changing signs of risk. There have been no serious incidents reported during the year under review.

Detailed consideration of day-to-day risk is delegated to the Headteacher and the Senior Leadership Team. Risks are identified, assessed, controls established, formally reviewed and reported to the Governors. The generic controls used by the School to minimise risk include:

The Governors are satisfied that adequate systems are in place to mitigate the School’s exposure to these risks.

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FUTURE PLANS

The School does not underestimate the challenges it will face in 2020/21 and it recognises the need for a strategy that: recovers from a pandemic, continues to increase pupil numbers, mitigates the impact of an potential economic downturn, reduces employment costs to a level consistent with the size of the school, and reduces overall expenditure while delivering excellent support to the School. The School will next review its strategy at a Board meeting in the autumn term 2021. In the meantime, it will focus on the following areas of the current Development Plan:

STATEMENT OF ACCOUNTING AND REPORTING RESPONSIBILITIES

The Governors, who are also the directors of Little Bookham Manor House School for the purposes of company law, are responsible for preparing the Annual Report and the financial statements and have elected to do so in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards). Under company law the Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company, the incoming resources and application thereof, including the income and expenditure of the charitable company for the year under review. In preparing these financial statements, the Governors are required to:

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The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Relevant Audit Information

Insofar as each of the Governors as Directors of the Company at the date of approval of this report are aware, there is no relevant audit information (information needed by the Company’s auditor in connection with preparing the audit report) of which the Company’s auditor is unaware. Each Governor has taken all the steps that he or she should have taken as a member of the Governing Body in order to make himself or herself aware of the relevant audit information and to establish that the Company’s auditor is aware of that information.

Approved by the Governing Body of Little Bookham Manor House School on 10 May 2021, including, in their capacity as company directors, approving the Directors’ and Strategic Reports contained therein, and signed on its behalf by:

G Sims-Brassett

(Chair of Governors)

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Independent Auditor’s Report to the Trustees of Little Bookham Manor House School

Opinion

We have audited the financial statements of Little Bookham Manor House School for the year ended 31 August 2020, which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

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

misstatements in the strategic report or the directors’ report included within the trustees’ report.

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

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless

Page 20

the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Use of our report

This report is made solely to the charitable company’s Trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed

Tim Redwood

Senior Statutory Auditor

For and on behalf of

Crowe U.K. LLP

Statutory Auditor

London

Date: 11th June 2021

Page 21

LITTLE BOOKHAM MANOR HOUSE SCHOOL STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2020

Notes
Income and endowments from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
5
Total
Expenditure on:
Raising funds
6 & 7
Charitable activities
6
Total
Net expenditure
Transfer between funds
18
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted Funds
2020
2019
£
£
1,800
5,490
4,029,194
4,347,187
23,136
9,333
4,033
7,573		 Unrestricted Funds
2020
2019
£
£
1,800
5,490
4,029,194
4,347,187
23,136
9,333
4,033
7,573
4,058,163
4,369,583
(2,450)
(4,146,573)
(2,382)
(4,354,507)
(4,149,023) (4,356,889)
(90,860)
-		 12,694

-
(90,860)
3,741,044		 12,694

3,728,350
3,650,184
3,741,044

The Statement of Financial Activities, incorporating an Income and Expenditure Account, represents the total unrestricted and restricted income and expenditure and its presentation is required under the Companies Act 2006.

The notes on pages 25 to 40 form part of these financial statements

Page 22

LITTLE BOOKHAM MANOR HOUSE SCHOOL BALANCE SHEET AS AT 31 AUGUST 2020

Notes
Fixed assets:
Tangible assets
9
Total fixed assets
Current assets:
Debtors
10
Cash at bank and in hand
Total current assets
Liabilities:
Creditors: Amounts falling due within one year
11
Total assets less current liabilities
Creditors: Amounts falling due after one year
12
Total net assets
The funds of the charity:
Restricted funds
18
Unrestricted funds
18
Total charity funds		 2020
£
3,103,356		 2019
£
3,192,441
3,103,356 3,192,441
214,569
824,836		 122,603
1,278,290
1,039,405 1,400,893
(491,244) (850,957)
548,161 549,936
3,651,517
(1,333)		 3,742,377
(1,333)
3,650,184 3,741,044
-
3,650,184		 -
3,741,044
3,650,184 3,741,044

These financial statements were approved by the Governing Body on 10 May 2021 and were signed on its behalf by:

G Sims-Brassett

(Chair of Governors)

Little Bookham Manor House School - Company No. 00719947

The notes on pages 25 to 40 form part of these financial statements

Page 23

LITTLE BOOKHAM MANOR HOUSE SCHOOL CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020

Notes
Cash flows from operating activities:
Net cash used in operating
activities
(i)
Cash flows from investing
activities:
Payments for tangible fixed assets
Proceeds on sale of tangible fixed
assets
Investment income and bank interest
received
Net cash used in investing activities
Cash flows from financing
activities:
Finance costs paid
Net cash used in financing
activities
Change in cash and cash
equivalents in the
reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the
end of
the reporting period
(ii)
£
2020
£
2019
£
(404,158)
343,090
(52,589)
(53,601)
0
2,498
4,033
7,573
(48,556)
(43,530)
(744)
(383)
(744)
(383)
(453,458)
299,177
1,278,294
979,117
824,836
1,278,294		 2019
£
343,090
299,177
979,117
1,278,294

The notes on pages 25 to 40 form part of these financial statements

Page 24

LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020

(i) Reconciliation of net income to net cash flow from operating activities flow from operating activities flow from operating activities flow from operating activities
2020 2019
£ £ £ £
Net expenditure for the reporting period
(as per the statement of financial
activities) (90,860) 12,964
Adjustments for:
Depreciation charges 141,674 141,970
Finance costs paid 744 383
Investment income and bank interest (4,033) (7,573)
(Profit)/Loss on sale of fixed assets 0 (2,498)
Decrease/(Increase) in debtors (91,966) 22,297
(Decrease)/Increase in trade and other
creditors (364,467) 181,236
Increase in parents’ deposits 4,750 3,125
(Decrease)/Increase in provision for leave
due but not taken 0 (8,544)
(313,298) 330,396
Net cash used in operations (404,158) 343,360
(ii) Analysis of cash and cash equivalents 2020 2019
£ £
Cash at bank and in hand 824,836 1,278,294

Page 25

LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

1. ACCOUNTING POLICIES

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - effective 1 January 2015.

The functional currency of the School is considered to be GBP because that is the currency of the primary economic environment in which the School operates. The accounts are drawn up on the historical cost basis of accounting.

Having reviewed the funding facilities available to the School, its response to COVID19, the establishment of a new pension scheme for the teachers, the expected ongoing demand for places and the School’s future projected cash flows, the Governors have a reasonable expectation that the School has adequate resources to continue its activities for the foreseeable future and consider that there were no material uncertainties over the School’s financial viability in the short term. Accordingly, they also continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Accounting and Reporting Responsibilities on page 20.

The accounts present the statement of financial activities (SOFA), the cash flow statement and the balance sheet.

The School is a Public Benefit Entity registered as a charity in England and Wales and a company limited by guarantee with no share capital. It was incorporated on 30 March 1962 (company number: 00719947) and registered as a charity on 29 August 1962 (charity number: 312063).

Critical accounting judgements and key sources of estimation uncertainty

In the application of the accounting policies, Governors are required to make judgements, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affected current and future periods.

In the view of the Governors, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the School’s financial statements.

Page 26

LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

1. ACCOUNTING POLICIES (CONTINUED)

1.1 Fees and similar earned income

Fees receivable and charges for services and use of the premises, less any allowances, scholarships, bursaries granted by the School against those fees are accounted for in the period in which the service is provided.

1.2 Investment income

Investment income from bank balances and interest bearing deposits are accounted for on an accruals basis.

1.3 Donations, legacies, grants and other income

Other income is accounted for as and when entitlement arises, the amount can be reliably quantified and the economic benefit to the School is considered probable.

Other income for the School’s general purposes is accounted for as unrestricted and is credited to the General Reserve. Where the donor or an appeal has imposed trust law restrictions, income is credited to the relevant restricted fund and incoming endowments are accounted for as permanent trust capital or expendable trust capital, according to whether the donor intends retention is to be permanent or not.

1.4 Expenditure

Expenditure is accounted for on an accruals basis. Irrecoverable VAT is included with the item of expenditure to which it relates. Expenditure is allocated to specific cost categories. Should the need arise, expenditure attributable to more than one cost category in the SoFA would be apportioned to them on the basis of the estimated amount attributable to each activity in the year, either by reference to staff time or the use made of the underlying assets, as appropriate.

1.5 Tangible fixed assets

Expenditure on the acquisition of fixed assets with an individual cost in excess of £3,000 is capitalised and carried in the balance sheet at historical cost. ICT equipment with an individual cost in excess of £300 is capitalised at cost as these items are usually an extension of the utilisation of the School’s network and they require greater safeguarding. Other expenditure on equipment incurred in the normal dayto-day running of the School is charged to the Statement of Financial Activities as incurred.

1.6 Depreciation

Depreciation is provided at annual rates designed to write off the cost of all relevant tangible fixed assets over their estimated useful lives. Rates used on the straight-line basis are:

Land Nil
Freehold property
Buildings 2.00%
Swimming pool 10.00%
Tennis/Netball courts 7.30%
Plant and machinery 10.00%

Page 27

LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

1. ACCOUNTING POLICIES (CONTINUED)

Motor vehicles 20.00% Computer equipment 33.33%

1.7 Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised values. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and provisions. Assets and liabilities held in foreign currency are translated to GBP at the balance sheet date at an appropriate year end exchange rate.

1.8 Financial leases/hire purchase agreements

Assets purchased under a financial lease, which transfers ownership of the asset to the School at the end of the lease period, with or without a small transfer of ownership fee, or under a hire purchase agreement are capitalised at cost. These assets are included in the School’s tangible fixed assets and are depreciated at the rates detailed in note 1.6 above.

The hire purchase/finance lease creditor is included in accounts payable at the initial amount borrowed less capital repayments made thereafter. Finance charges are written off over the term of the agreement using the sum of digits method.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

1.10 Pension costs

Retirement benefits to employees of the School are provided through three pension schemes, a defined benefit and two defined contribution schemes. The pension costs charged in the Statement of Financial Activities are determined as follows:

Page 28

LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

2.
DONATIONS AND LEGACIES
Grants, donations and sundry income
The following sundry income and unrestricted
donations were received from voluntary sources:
Friends of Manor House School
Sundry Income and Small Donations
3.
CHARITABLE ACTIVITIES
Fees receivable
School fees
Scholarships, bursaries and allowances
Other income
Commissions and other income
Extras
Other Grant Income (Furlough)
Registration fees
Profit/(Loss) on disposal of fixed assets		 2020
£
-
1,800
1,800
4,117,800
(423,352)


2019
£
-
5,490
5,490
4,442,231
(384,841)
3,694,448 4,057,390
-
169,763
158,933
6050
-		 -
281,011
-
6,288
2,498
334,746 289,797
4,029,194 4,347,187

Scholarships, bursaries and allowances were awarded to 85 pupils (2019: 86). These awards included means-tested bursaries of £120,273 for 18 pupils (2019: £127,352 for 17 pupils).

Page 29

LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

4.
OTHER TRADING ACTIVITIES
Other Activities
Fees on late payment of school fees
Hire of facilities
Rental income
5.
INVESTMENTS
Bank and Other Interest
Bank interest
6.
ANALYSIS OF EXPENDITURE
Total
Staff costs
Deprecia
tion
(note 8)
(note 9)
£
£
Raising funds
Cost of other
activities
-
-
Financing costs
(note 7)
-
-
Total costs of
raising funds
-
-
Charitable
activities
Education
Teaching
2,173,208
24,126
Welfare
136,903
16,633
Premises and
maintenance
339,720
100,603
Support costs and
governance
358,321
312
Total expenditure
on charitable
activities
3,008,152
141,674
Total expended
3,008,152
141,674
Other costs
£
774
1,676		 2020
£
-
21,996
1,140
23,136
2020
£
4,033
Total
2020
£
774
1,676		 2019
£
-
7,798
1,535
9,333
2019
£
7,573
Total
2019
£
383
1,999
2,382
2,649,651
458,921
722,257
523,678
4,354,507
4,354 507
2,450 2,450
262,405
244,798
265,291
224,253		 2,459,739
398,334
705,614
582,886
996,747 4,146,573
996,747 4,146,573

Page 30

LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Governance included in support costs:
Remuneration paid to auditor for audit services
2020
£
15,760
Payments to the auditor for other services
3,050
18,810		 2019
£
15,300
838
16,138

Governors (2019: £0).

The other payments to the auditor were for taxation compliance services and the audit and certification of the School’s annual return to the Teachers’ Pension Scheme. All of these payments are inclusive of VAT.

7.
FINANCE AND OTHER COSTS
Finance charges – Hire purchase creditor(note 14)
Other costs
8.
STAFF COSTS AND RELATED PARTY TRANSACTIONS
Salaries
National Insurance
Other pension Costs
Number of higher paid employees in bands of:
£60,001 to £ 70,000
£70,001 to £ 80,000
£80,001 to £ 90,000
£90,000 to £100,000		 2020
2019
£
£
774
383
1,676
1,999
2,450
2,382
2, 416,962
218,444
372,746
2,460,281
234,490
301,677
3,008,152
2,996,448
1
0
1
0
1
1
0
1		 2020
2019
£
£
774
383
1,676
1,999
2,450
2,382
2, 416,962
218,444
372,746
2,460,281
234,490
301,677
3,008,152
2,996,448
1
0
1
0
1
1
0
1		 2020
2019
£
£
774
383
1,676
1,999
2,450
2,382
2, 416,962
218,444
372,746
2,460,281
234,490
301,677
3,008,152
2,996,448
1
0
1
0
1
1
0
1
2,450
2, 416,962
218,444
372,746
3,008,152
1
1
0
1
0
1
0
1

None of the Governors received any remuneration, reimbursement or other benefits from Little Bookham Manor House School. The aggregate amount of employee benefits of key management personnel comprising the School’s Senior Leadership Team (Headteacher, Deputy Headteacher, Head of Prep School, Heads of Key Stages 3 & 4, Bursar and Marketing Manager) amounted to £540,628 (2019: £532,079). There were no termination payments effected during the year (2019: Nil). Pension contributions to a defined benefit pension scheme in respect of two employees who

Page 31

LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

earned in excess of £60,000 during the year amounted to £37,573 (2019: £26,189). Pension contributions to a defined contribution pension scheme in respect of one employees who earned in excess of £60,000 during the year amounted to £6210 (2019: 0).

The average number of the School’s employees during the year was 93 (2019: 95).

9.

TANGIBLE ASSETS

Cost(or
valuation)
At
01/09/2019
Additions
Disposals
At 31
August
2020
Depreciation
At
01/09/2019
Charge for
the year
Disposals
At 31
August
2020
Net book
value
At 31
August
2020
At 31 August
2019		 Freehold
Property
£
4,198,236
26,646
-
4,224,882

1,165,556
80,832
-
1,246,388
2,978,494
3,032,680		 Plant&
Machinery
£
260,127
8,521
-
268,648
190,388
16,550
-
206,938
61,710
69,739		 Plant&
Machinery
£
260,127
8,521
-
268,648
190,388
16,550
-
206,938
61,710
69,739		 Motor
Vehicles
£
166,667
-
-
166,667
110,115
21,397
-
131,512
35,155
56,552		 Motor
Vehicles
£
166,667
-
-
166,667
110,115
21,397
-
131,512
35,155
56,552		 Computer
Equipment
£
267,509
17,422
-
284,931
234,039
22,895
-
256,934
27,977
33,470		 TOTAL
£
4,892,539
52,589
-
4,945,128
190,388
16,550
-
206,938
61,710
69,739		 110,115
21,397
-
131,512
35,155
56,552		 1,700,098
141,674
-
1,841,772
3,103,356
3,192,441

Land with a value of £425,000 (2019: £425,000), which is included in freehold property is not depreciated.

Page 32

LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

The School created a new medical room and examination office and erected additional fencing within the School for increased security. It renewed some of its IT assets including laptops, projectors and iPads, and it relocated Admissions and Marketing into refurbished offices. The School has one lease remaining on one of its minibuses in favour of Bibby Financial Services. Depreciation of £4,880 was charged on the minibus during the year under review and the minibus has a net book value of £10,979.

All tangible fixed assets are held for use on charitable activities.

10. DEBTORS
Fees and extras
Other debtors
Other prepayments and accrued income
All debtors are due within one year with the
exception of £6,445 (2019: £6,445) in other debtors
which are due after more than one year
11. CREDITORS: amounts falling due within one year
Deposits from parents (see note below)
Fees received from parents in advance of term
Trade creditors
Hire purchase creditors (note 13)
Taxation and social security
Pensions
Provision for leave due but not taken
Other creditors
Accruals		 2020
£
87,354
6,445
120,770

2019
£
87,689
6,445
28,469
122,603
2019
£
203,645
392,567
88,671
5,325
56,228
38,525
3,943
25,773
36,280
214,569
2020
£
208,395
64,352
41,311
1,333
52,459
43,441
3,943
37,100
38,906
491,240 850,957

It is anticipated that deposits from parents in respect of pupils who are not yet in their final year of study at the School amounting to £180,395 (2019: £180,145) are likely to fall due within a period which is greater than one year.

Page 33

LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Summary of movements in deferred income:
Fees received from parents in advance of term
Balance at the beginning of the year
Recognised as income during the year
Received for 2019/20
Balance at the end of the year
12. CREDITORS: amounts falling due after more than one
Hire purchase creditors (note 13)
Other creditors
13. FINANCE LEASE – HIRE PURCHASE CREDITORS
Secured:
Bibby Leasing Limited (iii)
Less: deferred finance charges
Falling due within one year (note 11)
Hire purchase creditors
Deferred finance charges
Falling due in more than one year (note 12)
Hire purchase creditors
Deferred finance charges		 2020
£
392,567
(392,567)
64,352
64,352
year
2020
£
-
-
-
2020
£
6,100
(775)
5,325
1,526
(193)
1,333
-
-
-		 2019
£
198,716
(198,716)
392,567
392,567
2019
£
1,333
-
1,333
2019
£
8,594
7,632
(967)
6,665
6100
(775)
5,325
1,526
(193)
1,333

Page 34

LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

The hire purchase creditor is due 36 monthly instalments of £509 of which 3 payments were outstanding at the end of the year under review. An annual administration fee of £60 and an option to purchase fee of £180 at the end of the contract are payable and will be written off as an expense when paid.

Finance charges of £744 were expensed during the year (2019: £383) (note 7)). The hire purchase agreement is secured as follows (note 9):

A motor vehicle with a net book value of 2020
£
10,979
10,979		 2019
£
15,859
15,859

14. OPERATING LEASE COMMITMENTS

At 31 August the School had commitments under noncancellable operating leases expiring as follows in respect of items classified as Plant and Machinery:

Within one year
Between two and five years
Lease payments of £12,651 (2019: £12,651) were
recognised as an expense during the year.		 2020
£
12,651
9,488
22,139		 2019
£
12,651
22,141
34,792

15. CAPITAL COMMITMENTS

Capital expenditure approved by the Board of Governors
but not provided for in the financial statements at 31 August:
Contracted for
7,447
Not contracted for
79,695
87,142		 26,476
79,695
106,171

16. FUNDS OF THE SCHOOL

Endowments and Restricted Funds

The School held no endowments or restricted funds during the year under review or at balance sheet date.

Page 35

LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Unrestricted Funds

Unrestricted funds represent accumulated income from the School’s activities and other sources that are available for the general purposes of the School.

17. MOVEMENT IN FUNDS FOR THE YEAR

Restricted Funds
Unrestricted Funds
Restricted Funds
Unrestricted Funds		 Balance
01/09/2019
£
-
3,741,044
3,741,044
Balance
01/09/2018
£
-
3,728.350
3,728,350		 Income
£
-
4,058,163
4,058,163
Income
£
-
4,369,583
4,369,583		 Expenditure
£
-
(4,149,023)
(4,149,023)
Expenditure
£
-
(4,356,889)
(4,356,889)		 Balance
31/08/2020
£
-
3,650,184
3,650,184
Balance
31/08/2019
£
-
3,741,044
3,741,044

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Net current assets
Long term liabilities
Tangible fixed assets
Net current assets
Long term liabilities		 Restricted
£
-
-
-
Restricted
£
-
-
-		 Unrestricted
£
3,103,356
548,161
(1,333)
3,650,184
Unrestricted
£
3,192,441
549,936
(1,333)
3,741,044		 Total
31/08/2020
£
3,103,356
548,161
(1,333)
3,650,184
Total
31/08/2019
£
3,192,441
549,936
(1,333)
3,741,044

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LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

19. PENSION SCHEMES

Retirement benefits to the School’s employees are provided through a defined benefit scheme and two defined contribution schemes, which are funded by the School’s and employees’ contributions.

Defined benefit scheme

The School participated in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £324,170 (2019: £241,012) and at the year-end £36,996 (2019 - £31,185) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%.

The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However, the assumptions were considered and set by the Department for Education prior to the ruling in the ‘McCloud/Sargeant case’. This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions including the Teachers’ Pensions. On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appeal’s judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Court’s decision and has said it will engage fully with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remedied. A consultation was launched by the government on 16 July 2020, and closed to responses on 11 October 2020. As a result of the consultation, the government announced on 4 February 2021 that it intends to proceed with a deferred choice underpin under which members will be able to choose either legacy or reformed scheme benefits in respect of their service during the period between 1 April 2015 and 31 March 2022 at the point they become payable.

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LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal’s ruling in the McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020 and the government is preparing to complete the cost control element of the 2016 valuations, which is expected to be completed in 2021. In view of the above rulings and decisions the assumptions used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario, a valuation prepared in accordance with revised benefits and suitably revised assumptions would yield different results than those contained in the Actuarial Valuation. Until the cost cap mechanism review is completed it is not possible to conclude on any financial impact or future changes to the contribution rates of the TPS. Accordingly no provision for any additional past benefit pension cost is included in these financial statements.

The School withdrew from the TPS on 31 August 2020.

Defined contribution schemes

The People’s Pension is a multi-employer defined contribution occupational pension scheme that has master trust status. Basic contributions are 6% for the employee and 9% for the employer. The employer’s contributions are charged in the Statement of Financial Activities in the period in which salaries to which they relate are due. The employer’s contributions in the year amounted to £47,463 (2019: £55,131) and at year-end there was £5,962 (2019: £6,827) accrued in respect of contributions to this scheme.

The National Employment Savings Trust (NEST) provides the School’s support staff with an alternative to The People’s Pension. NEST is a workplace pension scheme set up by the government specifically for auto enrolment. The scheme is currently free for employers to use. Contributions rose from 1% by the employee and 1% by the employer to 3% from the employee and 2% from the employer from 6 April 2018. The employer’s contributions in the year amounted to £2,757 (2019: £2,213) and at yearend £513 (2019: £512) accrued in respect of contributions to the scheme.

20. SUBSIDIARIES AND RELATED PARTIES

The School has no subsidiaries. The Friends of Manor House School (FOMHS) (Registered Charity No.1129072) is a charity set up and operated independently of the School by parents of past and present Manor House School pupils. FOMHS carry out fund-raising activities to assist the School with various projects for the benefit of pupils

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LITTLE BOOKHAM MANOR HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

2020 2019
Related party transactions during the year £ £
Friends of Manor House School
-
Donations received		 0 0

The School has received no donations from FOMHS during the year under review, although FOMHS Committee has approved donations, which will be received in 2020/21

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Manor House School

A selective independent day school for girls aged 4-16 with co-educational nursery. Manor House Lane, Little Bookham, Surrey KT23 4EN Telephone: 01372 458538 Email: admin@manorhouseschool.org www.manorhouseschool.org www.twitter.com/manorhseschool www.facebook.com/manorhseschool