COMPANY f4UMBER: (Y￿11933 312070 CHARrrY NUMBER: GOVERNORS, REPORT, STRATEGIC REPORT AND FINANCIAL STATEMENTS FOR FELTONFLEET SCHOOL TRUST LIMITED ILIMITED BY GUARANTEEI FOR THE YEAR ENDED 31 AUGUST 2021 tc accounts. tax . legal . financial planning FELTONFLEET SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI CONTENTS PAGE Legal and Administrative Information Governors, Report lincorporating thè Ststegic Report) Statement of Governors, Responsibilitie5 io Report of the Independent Auditors li Statement of Financial Actlvltie5 15 Balance Sheet 16 Cash Flow Statement 17 Notes to the Flnanclal Statements 18 ## **FELTONFLEET SCHOOL TRUST LIMITED** ## **(LIMITED BY GUARANTEE)** **LEGAL AND ADMINISTRATIVE INFORMATION** |**Governors**|Mr G D Ashbee Chairman| |---|---| ||Mrs E A Anderson BA, LLB, JP| ||Mr D J Barry BSc, MA, GDL| ||Mrs R M Bishop CBE (resigned 24/06/21)| ||Mrs T L Harvey M.Ed, RSA, FCoT| ||Mr P A Howard BSC, ACA| ||Mrs S Humphrey BA (Hons), PGCE| ||Mrs M Jenner MBE, JP| ||Mr G R Owton BA| ||Mrs H D Quincey CIPD (appointed 04/03/21)| ||Mr M G Sadler MA, LLB, FCCA| ||Mrs S St Gallay BA (Hons), PGCE, JP| ||Mrs M White LLB (Hons) (appointed 01/09/20)| |**Senior Leadership Team**|| |**Head**|Mrs M L Lance BD PGCE| |**Secretary and Bursar**|Mr J P McKinlay| |**Senior Deputy Head**|Mr E A Carradine BA PGCE GCPS| |**Deputy Head (Pastoral)**|Miss E Cherry BA (Hons), PGCE| |**Deputy Head (Academic)**|Mr S J Pomeroy MA (Ed) BSC (Hons) PGCE| |**Assistant Head (Operations & Logistics)**|Mr P J Breakwell B.Ed Cert.Ed| |**Assistant Head (Digital Communication)**|Mr G J Starkey BA (Hons) PGCE| |**Head of Pre-Prep**|Mrs A Burton Smith MA, QTS| |**Head of Boarding**|Mr M J Rochford BSc (Hons) PGCE| |**Head of Upper School**|Mr J Thompson BA (Hons), QTS| |**Head of Middle School**|Miss A Wright BSC (Hons), PGCE| |**Head of Lower School**|Miss H Marland BA (Hons), PGCE, BTEC| |**Director of Studies**|Mrs C Carradine MManSci (Hons), DEUF, PGCE| |**Charity number**|312070| |**Company number**|00911933| |**Registered office and principal address**|Feltonfleet School| ||Byfleet Road| ||Cobham| ||Surrey| ||KT11 1DR| |**Auditors**|TC Group| ||The Courtyard| ||Shoreham Road| ||Upper Beeding| ||Steyning| ||West Sussex| ||BN44 3TN| |**Bankers**|Lloyds TSB Bank plc| ||Commercial Office| ||Brambletye House| ||29 Brighton Road| ||Crawley| ||RH10 6AE| |**Solicitors**|Moore Barlow LLP| ||The Oriel| ||Sydenham Road| ||Guildford| ||Surrey| ||GU1 3SR| Page 1 FELTONFLEET SCHOOL TRUST LIMITED ILIMITED BY GUARANTEEI GOVERNORS, REPORT {INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED31 AUGUST2021 The Govemors present their report and financial statements for the year ended 31 August 2021, which also comply with th& Companies Act 2006 requirement for a Directors Report 8nd Str8tegic Report. The financial statements have been prepared in accordance with the Companies Act 2006, Charities Act 2011 and Accountlng and Reporting by Charities.. Statement of RecommÈnded Practice applicable to charities preparing thelr financial 5tatement5 In 3ccordènce with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. STRUCTURE, GOVERNANCE AND MANAGEMENT The School is a company limlted by guarantee (company number 009119331 and is governed by its Memorandum and Articles of A550Clation. The School is a registered ch3rity Icharity number 31207013nd operate5 35 Feltonfleet School. The Directors of the Company are 31$0 TrusteÈs of the Ch3rity and are referrÈd to as Governors throughout this Report. Durin8 the year there was a board of twelve Governors, with one resignation in the year and one appointment post year end, these are detailed on the legal 8nd 8dministration pège. None of the Governors has any beneficial interest in the Company. All the Governors are members of the Cornwny and their individual liability is limited to El by the Memorandum and Articles of Association. Recruitment, Induction and Training Governors are recruited from amongst the lar8e number of friends of the School who have an interest in its continued wellbeing and excellence. Also, they have a particular interest In one or more asperts of the School's actlvities where they ao able to Share their expertise and experience. Prospective new Governors are Interviewed by both the Chairman of the 803rd and the Chalrman of the Nomlnations and Governance Comrnittee 3nd then subsequently elected by the B03rd of Governor5. A suitable induction progr3mme is arranged for each new Governor and ongoing training for Governors is carried out with attendance at external training progr3mmes as appropriatÈ. Organisational Strudure The overall direction of the School is determined by the Governors who review the longer term plans forthe School, agree the annual budget and receive termly monltorlng Inform3tlon 3g3inst budget and performance measures. The Govemors meet as a Board three times a year and More frequently if there is a need. To assist the khool there are Committees of the Board covering.. Educ8tion Fin3nce & General Purpose feguarding and Risk, HÈalth & Safety larie5 Nornination5 and Governance Strategy Each of these is chaired by a Governor and comprises a rninimum of three Governors, the Headmistress, the Bursar plus other School staff. The day-to-day rnanagement of the School is delegated to the Headmistress and the Bursar. P8ge 2 FELTONFLEET SCHOOL TRUST LIMITED ILIMITED BY GUARANTEEI GOVERNORS, REPORT {INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED31 AUGUST2021 Risk Management The Govemors have further developed their Risk Man4gement Policy during the year following a thorough review of the major risks to which the School is exposed. The Governors are s8tisfied that systems and procedures are established to manage these risks. A quantified assessment of risk was updated and considered by the safeguarding and Risk, Health & fety Committee and endorsed bythe Bo4rd ol Governors. ID the current economic climate, theGovernor5 have identified the principal risks and uncertainties for the School as the Maintenan￿ of pupil numbers and resulting income. All staff and most Governors have reteived Safeguarding and Child Protection training during the tourse of the year. The School has taken into consideration Government guidance in relation to the Covid-19 p3ndemic and conducted additional Risk Assessments in most area5 of the School. This has resulted in adherence to social distancing, the cre3tion of 'bubbles' and changes to process and procedure in many areas of the School. Remuneration of Key Management Personnel The remuneration of stsff is set by the Board with the poliry objective of providing appropriate incentives to en¢our8ge enhanced performance and of rewarding members of staff fairly and responsibly for their individual contributions to the success of th& khool. The 8ppropriateness and relevance of the remuneration F>olicy is reviewed annually, including reference to comparisons with other independent 5chwls to ensure the khool remains 5en51tive to the bro3der i55ue5 Of pay Bnd employment conditions elsewhere. The School aims to retruit the strongest Staff possible and all are plated on a seven point stale, in recognition of their experience. Delivery of the School's charitable vision and purpose is primarily dependent on our key management personnel 8nd staff costs are the18rgest single element of the School's ch8rit8ble expenditure. CHARITABLE OBJECTS AND AcnviTIES Public benefit The School continues to attach great importance to its contribution to the wider comtnunity. The Governor5 confirm they have complied with the duty to provide public benefit as laid down in Section 4 of the Charities Act 2011. In particularthey have given due regard to the General Guidance issued by the Ch8rities Commission. The School include5, Wlthin its objectives, the provision of an education for boys and girls between the ages of 3 and 13 to prepare themfortheirfurtherstudies andfor life in the world beyond school. The Governorsensure thischaritable purpose is carried out forthe public benefit byworking to ensure, wherever p055ible, thatthe opportunityfora firstcla55 educatio is available to all who are sufficiently talented and would benefit from the activities of the School, reg8rdless of fin8ncial ¢ir¢umstantes. The Governors recognise the Ènormous financial commitmÈnt made by many parents. For those who are unable to pay the full c05tS, the School welcomes bur53ry applicètion5 which 4re widely advert15ed. In a55e55ing suitsbility the child should meet the School's normal entry requirements, where 4ttention is given to both their academic progress and potential. With limited funds, bursèry support is offered to those consider&d likely to mak& academic progress and to benefit from p3rticipating in the School's wider, extr4-curricul4r activities. All bursary 4pplications are asse55ed by the Headmaster, the Bursar and two Governors. During the year ended 31st August 2021, a total of £494,601, amounting to 6.3% of total fees income, was spent on bursaries and allowances. Within that total, flvÈ pupils rÈcelved 8 100% remission of their fees. The Governors recognise the need to continually provide for bursarie5 and to 311oc3te bursaryfund5. With this in mind, they have approved further amounts next year in the budgeted provision. P8ge 3 FELTONFLEET SCHOOL TRUST LIMITED ILIMITED BY GUARANTEEI GOVERNORS, REPORT {INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED31 AUGUST2021 A promlnÈntaspect of the School isthe awarenÈss given by pupils tothe charity arÈa. Acharity Committee, whilst overseÈn by a tnember of the teaching staff, comprises pupils who determine deserving charities to support and 5ub5equently arrange events to raise funds. Members in the local community have 8ttended lectures and concerts given by pupils at the School. Children and young adults from sports clubs and other local groups from the Cobham ère3 use manyof the School's facilities, including the AstroTurf, the theatre and the swimrning pool. Charltable artivttles Our charitable p8rtnershlp wSth Oasls has gone from strength to srrÈngth. Restrittlons around fund raising events duÈ to Covid-19 did limit what pupi15 were able to do 3nd forced thetn to think creatively. The virtual challenges of Oper3tion oasis proved extremely popular, raising over £5,000. In addition, our in-house team, the Feltonfleet Warehouse, had huge succe55 in raising money for 03515 through 5ale5 of Christmas gift5 (key rings, drinks CO3Ster5, even ma5k511 designed 3nd produced by the pupils. Year 8 pupils also made Christmas tards and fundÈd gifts for the elderly in our community instead of Secret Santa gifts to each other. A mufti day in November supported Children in Need,. sales of poppiescontributed to the British Legion during Remembrance Week,. and the Winter term ended with fundraising for Oasis through a Christm85 Jumper Day. The Friends of Feltonfleet worked continually during the pandemic, collecting food and household Eoods at morning drop i)ff and throughout the holidays and delivering it all to Oasis. Building Development programme During the tourse of the year, a number of rÈfurbishment and new build works were undertaken around the Sthool. prirnarily to deal with the additional pupils on the School roll. These works included.. Extension of the Art Studio Creation of an additional classroom in the Year 2 House Enhan¢Èment of Nursery loo facilities Installation ol a new Pre-Prep adventure playground New toilet block for the Upper School School Roll Pupil numb&rs are very healthy across a114 stages of the school. The school roll for September 2021 is 4881153 Pre-P￿p and 335 Prepl with waiting lists in some yeargroups. Academ1¢ a¢tlvliies and athlevements durlngthe year Pr -Pr The previous yearfs curriculum initiatives including Forest School and the Literary Curriculum were further developed this year in the Pre-Prep,forexample with Yearone exploringTravel as part of their literacystudies in the International Primary Curriculum, and Year Two crÈating a Nativity film featuring a socially distanced retelling of thÈ Christmas story. NursÈry children were not impacted by lockdown restrictions were active full-time on site. The remaining Pre-Prep pupils adapted readily to Zoom lessons at home. with pèrents ènd reèchers alike seekingevery opportunity for children to engage in real-life learningi whilst developing independence through use of the environtnent and resources to hand èt home. When Pre-Prep pupils returned to the campus. they revelled in opportunities to enjoy natural wonders as part of Forest School. IPC and Art tOPlC5 Inspired creations of vehicles., digit41 cornpetence 50ared during the Summer Tertn, with all classes exploiting cross-curricular links through technology,. and PSHE lessons linked with NSPCC guidance underlined important ways ro Speak Out and Stay Safe. P8ge 4 FELTONFLEET SCHOOL TRUST LIMITED ILIMITED BY GUARANTEEI GOVERNORS, REPORT {INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED31 AUGUST2021 Lower School In the Lower School Iyears 3 and 41. the tÈrms 'rÈslliÈncÈ', 'determination' and 'independÈncÈ' werÈ Èchoed repeatedly this year over Zoom, Seesaw and in classrooms. Teachers were very proud of the way pupils in the Lower School adapted so quickly and willingly to remot& learning. Progress in independent learning was one of the le8tures most evident, as pupils uploaded work reflecting such a variety of appr03ches, initiatives, and creativity. Stimulating topits such 3S 3ntiont civili5ations in Year3 and thejourneyof chocolate from bean to bar45 part of the IPC in Year 4, were particularly engagin8. The Summer Term was busy and productive as pupils returned to school after lockdown. Acadernic progre55 Was complemented by a clear understanding of the core value5 of the School, with qu4litie5 such as kindness, compassion. and the ability to summon that extra bit of energy and sense of fun clearly evident. The Bushcraft trip was 8blÈ to go Èhead, providing 3 steèp lèarning curvÈ for the Yèar 3s. but also an opportunity for thè Year 4$ to demonstrate their resilience 3nd tnaturity as they re3died thetnselves for the move to Middle School in the aututnn. MiddlÈ School The younger pupils in the Middle School Iyears 5 and 61 managed the transition from Lower School remarkably well at the beginning of the acèdemic year, settling quickly into new routines and embracing the change in pace and intensity of workload. Atnong5t the highlight5 early in Year S were the Roman numeral treasure hunt5, the opportunity to di55ect a heart, and the Year 5 pl4y, 'Wind in the Willows,. Year 6 focussed on their core learning skills and on pre-tests for their Intended senior schools, Including interview pr3rtice vi3 Zoom. Reviewing and improving workwas a key feature and they 3150 3bsorbed them5elve5 in re-en3Cting the Battle of Ha5ting5, di55ecting 3 Iocu5t and playing African drum5. The pÈriod of remote learning fosterÈd independènce and perseverance through studies ranging from states of matter to models of river basins, French conversation and creative drama videos. Pupils were also encouraged to try sornething new whilst they had extra time on their hands, so a we31th of new crafts, ￿king, painting, and other n&w skills emerged on Sees3w- excellent ex3mple of how to Inspire and engage one another. On their return to School, Middle School pupils threw themselves wholeheartedly into their lessons, whilst also relishing sporting fixtures, STEM Iscience, Technology, Engineering and Maths) afternoons and the opportunity to take music exams again. The residential trip to Shropshire w3S a valuable life experience encouraging independence, confidence and collabor3tion. After 3 long period of lockdown, the time away from home required considerable resilience, but from the underground maze to archery and high ropes, pupils created memoriÈs that will stay with them for a long while. Pre-Test Results 2020-2021 Thi5 yeHrf5 excellent re5uIt5 In the Pre-Te5t5 for Year 6 reflected our rigorou5 preparation in the core 5ubject5, a5 well a5 careful management of parental expectations with applications tailored to 'best fit, schools. 48 pupils applied for senior schools through the pre-test process, of whom 45 were successful. I was placed on a waitlng list and 2 were unsuccessful. 11 pupils left at the end of Year 6 compared to 21 in 2020. We remain alertto the Il+ threat and the challenge. particularly for our middle and lower ability cohort, to secure placès forth@m in a climate where placÈs in local day schools arÈ fiercelv contested. Èr khool Year 7 8nd Year 8 pupils in the Upper School now take the PSB (Prep School Baccalaureate) curriculum, which requires considerable self-reflection and focus on Individu31 learning styles. The Year 8 cohort thls year were the first to complete thi5, alongside the Extended Project that require5 research on 3 chosen topic. Common Entrance ex3m5 are of course Still required in English, Maths and Science, and this year's results are testament to all the pupils, hard work and dedication. Leadership skills are also an important feature of life in thÈ Upper Sthool, as seen through thè online assèmblies treated by Heads of School, Prefect5 and B03rdingPrefect5. as well 35through the Pre-Prep Prefects, work with our youngest pupils and the Charity Committee's half-term challenges for Operation Oasis. The quality of Year 7 applications for positions of re5POnsibility in the following year was hugely itnpre55ive. Independence w35 3 quality particulaily evident in the Upper School during the period of remote learning, as elsewhere in the school. P8ge 5 FELTONFLEET SCHOOL TRUST LIMITED ILIMITED BY GUARANTEEI GOVERNORS, REPORT {INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED31 AUGUST2021 Pupils demonstrated their commitment to the school through excellent attendance in activities such as the Upper School remote clubs, partlcularly the Weekend Warrior workouts. and thÈ numerous Èntries for the GrÈat Year 8 Bake C>ff Challenge. On their return to school, lunch break times were buzzing with excited chatter as pupils revelled in the camaraderie of the year group and threw themselves headlong into exam preparation, sports fixtures, rnusical performances and drama productions, with the sheer joy and effort Èvident in the'Lord of the Flies, produrtion pèrticu18rly otable. Scholarshi s and Exhibitions A large number of Scholarships and Exhibitions was awarded to our Year 8 leaving cohort, including 2 Academic Schol8rships to Brighton College 8nd 3 AcadÈmlc Scholarships to St. John's. 2 Sports Schol8rships wÈrÈ awarded to Charterhou5e, I Sports Scholarship to Reed'5 and I Sports Exhibition to Reed's. 2 Drama Scholarship5 were awarded to St. John's, l Drama Scholarship to St. George's and l Drama Exhibition to Epsom College. There was l Music Scholarship to St. John'5, 1 Art Scholarship to St. John's and 4 Millennium Scholarship to Brighton College. Five 5PQrt5 scholarship applic4tiOn5 rern3in outstanding Ire5trictlQn5 meant pupils were unable to complete on site a55e55mentsl will be a55e55ed during the Autumn term of Year 8 once pupils havejoined their senior school. As a whole, the Year 85 were an impeccable year group throughout thÈ weeks of their LÈavers' Programme, impressing all who met them Ènd alwÈys looking out for one another with care and kindness. We were extremely that Covid restrictions denied them the opportunity to complete their school year on the school c8mpus. Other attivities and achievements during theyear Mindfulne55 and Wellbein Our focus on mindfulness has remained steady, with more st8ff either self-educ8ting or undertaking training. Pupils of all ages Èngage with mindfulness at kÈy point5 in the sthool day. Their awarenÈss of the reasons behind the practitÈ is clear. Given that mindfulness was introduced into the curriculum at Feltonfleet in 2016, there is an acceptance and underst8nding of its Importance and purpose. The key to making sure that mindfuln&ss continues to develop here is to maintain and push staff trainingi Particularlyfor new 5t3fF, so that they are not jUSt keeping up with the pupils but driving progress. A big step forward in our ment31 health and wellbeing provision was the appointment in March of Salma Mousavi as our school counsellor. Salma has been in school for one day a week since then and she sees pupils from across 811 stages of the school on 3 one-to-one basis. Going forward, once the Wellbeing Centre is open, we envisage her being able to provide sorne'drop-in, sessions for pupils, in addition to her pre-arranged appointments. Boardin Feltonfleet Kni ht5 Boarding has of course laced a challengingtirne during the p4ndemic, with several events such as the Knighting Cerernony 8nd the Boarders B8Qs3dly beinB cèncelled due to Covid 19. However, the Year 4 Trial Night went ahead successfully and with an increase in interest in pupils enrolling lor Boarding for the next academic year, we 4re confident that Feltonfleet Knights will return to normality 8nd th8t pupils of all ages will be able to benefitfrom living in a fully oper8tional residential setting. Music Despite restrirtlOn5 in the Winter Terrn, pupi15 were able to take part in joyful Singing and music making in the smaller ensembles and parents were able to see the results in the Christmas ec4rd, which also featured our three pre-recorded Carol Services from Years 3 to 8. Alon¥ide the Pre-Prep Nativity, every pupil w3S therefore able to enjoy making music for Christmas. Our dedicated vlsiting muslc staff maintained Covld safety measures in their one-to-one lessons and we are very proud of the 45 pupils who passed their ABRSM tnu5ic exams in December, with high numbers of rnerit5 3nd distinctions. Four informal concerts were streamed on Zoom, led by our perip3tetic staff and featuring students of voice, piano, violin and drum kit. OvÈr 200 one-to-one lessons took part e8th weÈk in thÈ department. P8ge 6 FELTONFLEET SCHOOL TRUST LIMITED ILIMITED BY GUARANTEEI GOVERNORS, REPORT {INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED31 AUGUST2021 Forthe Spring Term, choirs were split into yeargroups and, with the exception of Orchestra, most ensernbles were able to run with appropriate social distanclng. The Zoom Choir produted a vSdeo of "Don't You Worry'Bout A Thing bringinglov to us with their singing. Though the Summer Term again required choirs split into smaller groups, the smaller ensembles put together a video In lieu of the usual Instrumental Gala Evening. These sm811, but talented groups have become increasingly important whilst we have been unable to run our mèin sthool orchestrè. Instrumental demonstrations on violin, cello. oboe, clarinet. b45500n and 3 selection ol br455 instruments have offered pupi15 a glimpse into the enjoyment that can be had from taking part IN ensembles, in a way that piano cannot. Whilst a large-scale concert was not possible last year, WÈ look forward to the next time we tan welcome parÈnts on site for such an event. Two days of A8RSM music exams in the Summer Term drove horne just how much talent we have at Feltonfleet, with children across the school delivering fant85tic performènces from Pr&p-test to Grad& 6 level. Drama The Covld restrictlons presented unlque challenges for Drama, as for every Brea of the school. The staging of the Year 5 production. 'Wind in the Willows" wa5 modified accordingly but wa5 able to go ahead with pupi15 playing ch3ir5, door5, speaking carpets, trees and caravans instead of props and costurnes, alongside a vast array of characters and narrators. The scrlpt was in rhyme but dld not dèter the puplls. whose performances were outstèndlng for both dram3tk content and work ethic. What is more, Some of these new techniques have been incorporated in the Drama le550ns since then, making pupils, pieces even more imaginative. Drama Dance continued to be a creative outlet for pupils once they returned to the campus. Lower and Middle School performers did themselves proud in LAMDA exams in the Summer Term. It was also wondÈrful to be able to stage the Year 7 produrtion of "Lord of the Flie5" in the Ashbee Theatre. Though there could be no audience, the pupi15 instead h3d th& opportunityof performing for the camera in a series of takes towards the final filrn. Year 8 also started preparation for thÈir rÈmotè LÈavÈrs' Production, with online tollaboration. Art Thè young 8rtists of Feltonfleet tackled the challenges of last year and the rèstrictions on the availability of matèrials admirably, exp3nding their creativity as a result. As the Art Studio became a rernote studio, pupils soon ernbraced the opportunity to join the dr8wing sessions focusing on basic techniques and experimenting with tone, light and sh8de to 4chieve a much higher level than expected. Once back at School, the pointingj printin& drawing and Sculpting 5e55ion5 allowed our artists to explore new worlds and to show their own perspectives on art. Desi n and Technolo In the autumn. the students studied a range of topics, from MP3 speakers and soldering to computer-aided design, patkaging in the dÈsign industry, bridge building, and shorter STEM Istience, Technology, Engineering and Maths) projetts in Ye3r5 3 and 4. Design and production of Christm35 gifts for the W3rehou5e $31e w35 3150 a keyfocus. During the Spring Term, pupils applied themselvesto designing and modelling8 range of products at home, in re8dinessfortheirconstruction on return to School. Topics included desert island rafts, using hand too15, programrning traff ic lights. and making photo frames as mementos of special memories. ort The Sports Department used the Covid period to adapt the te8chin& coaching and playing experience offered by the school. Mixed 5POrts are now embedded in our provision and during the year, pupi15 acr055 the School trained alongside each other in rugby, lootb311 and netb311, a5 well 35 Participating in the World Cup hockey tournaments in Year5 5 to 8. Mixed-ability Champions League tournaments. section matches, ènd regular training sessions now fe8ture in the new game5 model. P3rtner5hips with profe55iona15 continue to enh3nce the pupi15' experience. with the J05h Evèn5 Soccer School providing football coaching frorn Year 1-8, and Eddie Way, our GB internation31 hockey coach, working with Middle School girls and Upper School hockey clubs. Remote clubs and weekend workouts durlng the year Included the Impressive community effort for'Trekking to Tokyo.. The pandemic highlighted the cre3tivity of our pupi15 and their ability to 4dapt to ch8nging circumstances. P8ge 7 FELTONFLEET SCHOOL TRUST LIMITED ILIMITED BY GUARANTEEI GOVERNORS, REPORT {INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED31 AUGUST2021 Feltonfleet's sportsmen and wornen were delighted to return to sorne 141 external fixture5 in the Summer Terrn, along with the support of parental spÈct8tors. The Under 11 and Under 13 Tennis tÈams were unbeaten all season. Our school cricketers performed brilliantly, with the Under IOA Boys unbeaten and coming out as winner5 in the Thomzs's Tournament. Girls, Cricket saw two full'hardball. teams and their 1st team lost only once. The Under 13 Boys were losing finalists in th& Surrey Pr&p School Cricket Cup and the shooting team won the toveted H3mmond Cup. The khool'5 response to the Covid-19 pandemic This past year has seen an extraordinary period in education, during which teachers, pupils and parents have responded to the myriad challenges that arose from the Covid-19 p8ndemlc. Periods of lockdown and uncertainty requlred minute attention to the quality of rernote learning we were able to provide for our pupi15. Our exceptional teaching and sUPPOrt staff showed extraordinary commitment and responsibility, combined with the creative energy and resilience necessary to bring the school through surh momentous ch411enge5. De5Ptte re5trictlOnS, It wa5 an excellent year throughout the school, both academically and on the co-curricularfront. k reflected ID the virtual Graduation and Prize Day, we were also incredibly proud of the achievements of our Most senior pupils and of the pieces of Music, Drama, Poetry and Sport that rÉflÈtt the depth and diversity of life here at FÈltonflÈÈt. During this difficult time, p8rent81 support has remained ste8dfast ènd we are hugelygrateful for this positive p8rtnership with our parents. The entire school comrnunity ha5 remained positive, strong and resourceful throughout. During the Autumn Term, all Feltonlleet pupils enjoyed an uninterrupted term of excellent teaching and learning, Including a rich programme of co-curricul3r activitie5. The entire 5t4ff team worked tirele551y to make every d4y count, and whi15t 'live' events were not P055ible, there werevirtual concerts, pl4ys and parent5, evening5. Duringthe Spring Term, we sh3red with our p8rents the common determinarion to maintain our children's education during lockdown. Not only were our Èxceptional teathing staff unstinting in their efforts to secure this, but our support staff too were invÈluablÈ. partitularlv in preparing the site for the safe return of pupils from March 8th. It was a terrific, combined effort from all in the Feltonfleet community. Once back in school, the relief 8nd eKCltement of the pupils was very evident, 8nd they were keen to di5playthe rnultitude of new skills they h3d acquired whilst learning retnotely. FINANICAL REVIEW General Review The School's principal funding source is school fees and this income is used to support the key objectives of the School as documented elsewhere in this report. Reserves have increased by £439,24812020.. £216,348) during the yearto total £8,847,46812020.. £8,408,220) at 31 August 2021. Of total reserves, E215,92112020.. £245,312> has been designated forthe provision of burs3ries and E24,IK)012020.. £48,WOI is restricted in relation tothe refurbished kitchen, leaving £8,607,54712020.. £8,114,908) unrestricted fund5. The Governors have maintained their tommitmÈnt to the improvement of thÈ School's infrastructurÈ during the year as part of an ongoing programme of capital expenditure. A total of £205,25312020.. £541,1531 was spent on capital projects and substantial additlonal expendlturÈ wès Incurred for major refurbishments throughout the School Èstate. The School had unrestricted reserves (fixed assets and current assets less creditor51 at the year*nd of £8,607,54712020.. E8,114.9081. Th& School's reserves policy is to ensure that its financ131 affairs are maint3inÈd within a tight budget that is approved bythe Governor5. The Governor5 consider that, in the event of 4 significant drop in 5hort-terrn funding, they will be able to continue the School's activities while consideration is given to ways in which additional funds may be raised. P8ge 8 FELTONFLEET SCHOOL TRUST LIMITED ILIMITED BY GUARANTEEI GOVERNORS, REPORT {INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED31 AUGUST2021 PLANS FOR THE FUTURE The future forthe independent school sectorremains more challenging than ever, A 43% increase to theTeachers' Pension Scheme contributions has had a significant effect on costs moving fonvard and this likely to increase further in the review scheduled for 2022. The likelihood of Mandatory Business Rates Relief IM88RI being taken away in the next few years is high 3nd there still remains much talk about the introduction of VAT on School fees plu5 the loss of ch3ritsble 5tatU5, both of which would have significgnt impacts on the School's finances. With all of that said, however, the pupil roll has never looked stronger and work is well underway in a number of areas to malntaln FeltonfleÈt's posltlon as a pre-eminent Prep School in this part of 5urrey. Mr Giles Ashbee Chairman P8ge 9 FELT0NFLE￿ SCHOOL TRusf LIMITED (LIM￿E0 BY GUARANTEEI STATEMENT OF GOVERNORS, RESPONSIBILITIES The Governors, who are also the directors for the purposes of company law. are responsible for preparing the Governors, Report (including the Strate8ic Report) and the financial statements in accordance wlth applicable law and United Kingdom Accounting standards (United Kingdom Generally Accepted Accounting Prèctlcel, Includlng FlnancSal Reportlng Standard 102 'The Flnanclal Reportlng Standard In the UK and Republic of IrÈland'. Ctrmpany law requirÈs thÈ GovÈrnors to prepare finantial statemÈnts for eath finantial year which give o true and fair view of the affair5 of the Charitable Company and of the incoming resources and application of re50urce5, including the income and expenditure, of the charitsble companyfor that year. In preparingthe5efinancial statement5the Governor5 are required to.. select 5Uit8ble accounting policies Bnd applythem conslstentlv., observe the methods and principles of the Charities. 50RP' make judgements and estimates that are reasonable and prudent-. and prepare ihe financial statements on the goinE concern basis unless it is inappropriate to presume that the Charitable Company will not continue in operation. The Governors are responsible for keeping adequate accounting record5 that disclose with reasonable accuracy at any time the financial positlon of the Chèrltable Company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Ch8rit8ble Company and hÈncÈ for tèking reèsonable steps for the prevention and dÈtettion of fraud and PagÈ 10 FELT0NFLE￿ SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI REPORT OFTHE INDEPENDENT AUDITORS TO THE MEMBERS We have audited the financial statements of Feltonfleet School Trust Limited for the year ended 31 August 2021 Set out on p3ge5 15 to 28. The fin3ncial reporting framework th3t has been applied in their prepèr3tion is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ire13nd Iunited Kingdom Generally Accepted Accountin8 Practice). In ouropinion the financial statement5'. give a true and fair vlew of the state of the charitable company's affairs as at 31 August 2021 and the surplus or deficitfor the yearthen ended. have been properly prepared in accordance with Unlted Klngdom Generally Accepted AccountSng Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Baslsforoplnlon We conducted our audit in accordance with International Stsndards on Auditing IUKI (15￿ IUKII and applicable law. Our respon5ibilitie5 under those 5t3ndard5 are further described in the Auditor'5 sponsibilities for the audit of the financial statÈmÈntS Settion of our report. We are indÉpÉndÈnt of the charitable company in accordance with the ethical requirements that 3re 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 reouirements. We believe that the audit evidence we have obtsined 15 sufficient and appropriate to provide a basis for our opinion. Conclu51ons relatlng tDgDlng concem In auditing the financial statements, we have concluded that the Governors, use of the golng concern basi5 of accounting in the preparation of the financi315tstement5 15 3ppropriate. Based on the work we h3ve performed, we have not identified any rn3terial uncertainties relating to events or conditions that, Indlvldually or collertively, may cast slgnificant doubt on the Company's abilitv to continue 85 a going concern for 3 period of at le25ttwelve months from when the financi315tatements are authori5ed for issue. Our responsibilities and the re5pon5ibilitie5 Qfthe Go¥ernor5 Wlth respect to goingconcern are described in the relevant 5ection5 ofthis report. Other lThformatlon The Governor5 are re5pon5ible for the other inforrnation. The other information cornprise5 the information Included In the Governors, 3nnual report. other than the financial statements and our auditor's report thereon. Our opinion on the financial st3tement5 does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our re5pon5ibility Is to read the other information and, in doing so, consider whether the other information is rnateri311y inconsistent with the rinancial statements or our knowledge obtained in the audit or otherwise appears to be materially mi55tated. If we identify such rnateri31 inconsistencies or apparent materi31 misstatements. we are required to determine whether there is 3 rnateri31 misst3tement in the financi315tstements or a m3terial 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. Page 11 FELTONFLEETSCHOOL TRUST LIMITED (LIM￿E0 BY GUARANTEEI REPORT OFTHE INDEPENDENT AUDITORSTOTHE MEMBERS Opinions on other matters prescribed bythe Companies Act 2LX)6 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Governors, Report (incorporating the Director5. report and strategic report) for the financial year for which the financial statement5 Bre prep3red 15 consistent with the financial statements,. and the Governors, Report lincorporating the Directors, report and strategic report) h35 been prepared in 3ccord8nce with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of our knowledge and understanding of the Charitable Corllpany and its environment obtained in the course of the audit, we have not identified material misstatements in the Governors, Report lincorporating the Directors, report and strategic reportl. We hBve nothing to report in respect of the following mHtters in relation to which the Companies Act 2006 require5 US to reportto you if. in our opinion.. adeouate accounting records have not been kept by the charitable company, or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and retums,. or certain disclosures of directors, remuneration specified by law are not made,- or we have not received all the inform4tion 4nd explanations we require for our audit. the governors were not entitled to prepare the financial Statements in accordance with the small companies regime and take èdvantage of the small companie5, exemptions in preparing the governors. report and from the requirement to prepare a strategic report. Responsibilitie5 of the Eovernors explained more fully in the Governors, Responsibilities Statement, the Govèrnors (who are also the Direitors of the Charitable Company for the purpose5 of iompany lawl are responsible for the preparation of the financial statements and for being sat15fied that they give a true and fair view, and for Such internal control as the Governor5 determine 15 nece55ary to enable the preparatlDn of financial 5tBtements that are free from materiil mi55t3tement, whetherdue to frBud or error. In preparing the financial statements, the Governors are responsible for ?ssessinE the Charitable Company's ability to continue a5 a going concern, disclosing. as applicable. matters related to going concern and using the going concern ba51s of accounting unless the governors either intend to liquidate the Charitable Company or to cease operations, or have no realistic alternative but to do so. PagÈ 12 FELTONFLEETSCHOOL TRUST LIMITED (LIM￿E0 BY GUARANTEEI REPORT OFTHE INDEPENDENT AUDITORSTOTHE MEMBERS Auditor's responsibilities for the audit of the fimarttial statémemts Our objectives Bre to obtBin re3son3ble a55ur8nce about whether the finHnciBI stBtementS BS a whole Hre free from material misstatement, whether due to fraud or error, Hnd to i55ue 3n auditor's report that include5 our opinion. Reasonable assurance is a high level of assurance, but is not a guar3ntee th3t an audit conducted in accordance with ISAS IUKI will ?Iway5 detect a material misstatement when it exists. Mi55tatements 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. Irregularities, Including fraud, are instances of non-compliènce with laws and regulations. The extent to which our procedures are capable of deterting Irregularities, Including fraud, is detailed below. Extent towhlch the audlt was consldered capable of detertlng irreBularlties, Includin8 fraud The obl￿tIveS of our audit, in respect to fraud, are.. to identify and asse55 the of material mi55tatement of the financial statetnents due to fraud.. to obtain 5uffiiient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate respon5e5,' Ind to respond appropriately to frHud or Suspected frHud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management. Our approach was as follows". We identlfled areès of laws and regulatlons thèt could reason8bly be expected to have a materlal effert on the financial statements from our general sector Èxperience, and through dlscussion with the trustÈes and other management las required by auditing standards), and distussÈd wth the trustees and other tnanagement the policies and procedures regarding compliance with laws and regulations Isee below).. We identrfied the following areas as those most likely to have such an effect.. health and 5afety', General Data Protection Regulation IGDPRI. frau(I,. bribery and iorruption,. Independent Schoo15 Inspectorate Iisii, and employment law. Au(liting stan(lard5 limit the required audit procedure5 to identify non-cornpliance with these laws and regulation5 to enquiry of the trustees and other management and inspection of regu13tory and legal correspondence. if any. The identified 3Ctual or suspected non-compliance was not sufficiently significant to our audit to result in our response being identified as 8 key audit matter. We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FR5 102, the Companies Act 2006 and the Charities Act 20111 and the relevant tax compliance regulètions in the UK,- We considered the nature of the school's operations, the control environment and financial performance. We communicated identified laws and regulations throughout our team and remained èlert to 8ny indications of non-compliance throughout the audit. We considered thÈ procedures and controls thèt the school has estèblished to 8ddrÈss risks identified, or that otherwise prevent, deter and detect fraud,. and how senior management tnonitors those programmes and controls. PagÈ 13 FELTONFLEETSCHOOL TRUST LIMITED (LIM￿E0 BY GUARANTEEI REPORT OFTHE INDEPENDENT AUDITORSTOTHE MEMBERS Based on thi5 understanding we designed our audit procedures to identify non-compliance with Such IHw5 3nd regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included.. testing manual journals. reviewing the financial Statement di5c105ures 3nd testing to supporting documentation,. performing analytical procedure5.' 8nd enquiring of m3n8gement, and were designed to provide re3s0n3ble ?ssur8nce that the financial statements were freefrom fraud or error. Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some material misstatements In the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non- compliance with laws and re8ulètions Iirregularitiesl is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also grÈater re8ardin8 irregularities occurring due to fraud rather than error, as fraud involves intentional contealmÉnt, forgery, collusion, omission or misreprÈsentatitrn. We arÈ not responsible for preventing non-tompliance and tannot be expected to detett non-tompliante with all law5 and regulations. Use of our report Thi5 report is made solely to the Charitable Compantys member5, as a body, in aciordance with Chapter 3 of Part 16 of the Companie5 Act 2006. Our audit work has been undertaken 50 that we might State to the charitsble company'5 member5 those matter5 we are required to state to them in an auditor's report and for no other purpose. To the fullest extent perrnitted by law, we do not accept or assurne responsibility to 3nyone other than the Charitable Company 3nd the Ch8ritHble Compan¢s members BS a body, for our Budit work, for thi5 report, or forthe opinions we have formed. TG Grtrw Mark Cummlns FCCA ISenlorStatLrtoryAudltorl lor and ot) behalf of TC Group StatutoryAuditor Office.. Steyning, West Sussex Dated.. 2nd Fèbruary 2022 PagÈ 14 FELT0NFLE￿ SCHOOL TRusf LIMITED (LIM￿E0 BY GUARANTEEI STATEMENT OF FINANCIALACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 AUGUST 2021 Notes Unrestricted Funds Restricted Funds Designated Fund5 Total 2021 Total 2020 INCOME FROM.. Donition5 Investments Ch8ritèble activities Totsl income 2,000 3,646 7,257,763 7,263,409 19.939 13.620 6.406.075 6.439.634 3,646 7,257,763 7,263409 EXPENDITURE ON: 6,8Z4,161 6,824,161 6,824,161 6,824,161 6,223,286 6,223,286 Totsl expendlture Net Income 439,248 439,248 216,348 Transfers between funds 20 53,391 124,t*Joi 129.3911 Net movement in funds 492.639 124.t*Joi 129.3911 439.248 216,348 Fund balances brought fonyard 8.114.908 48.000 245.312 8A08.220 8.191,872 Fund balances tarrled forward zo 8,607,547 24.000 215.921 8,847A68 8,408,220 All income and gains for the year are recognised above. All of the school's activities are classed as continuing. The St8tement of Financial Activities also coynplies Wlth the requirement5 for an income and expenditure account. PagÈ 15 FELT0NFLE￿ SCHOOL TRusf LIMITED Company Number 00911933 ILIMITEO BY GUARANTEEI BALANCE SHEET AS AT 31 AUGUST 2021 Notes 2021 2020 FIXED ASSETS Tangible assets 12 7,229,070 7,402,731 CURRENT ASSETS Debtors Cash at bank and in hand 13 1,197,536 3,818,953 5,016,489 1,616.287 2,596.817 4,213.104 CURRE￿ LIABILITIES Credltors due withln one year 14 13.398.091) 13,207,615) NET CURRENT ASSETS 1.618.398 1,005,489 TOTAL AssEfs LESS CURRENT LIABILITIES 8.847A68 8,408,220 ASSErs 8.847.468 8,408,220 REPRESENTED BY- 20 RESTRICTED FUNDS 24,0 48,000 UNRESTrICTED FUNDS General funds Designated funds 8,607,547 215,921 8,114,908 245,312 8,823,468 8,360,220 8.847.468 8,408,220 The accounts were approved bythe Board of Governors and signed on their behalf by.. Mr GilesAshbee ICh3irm£nl Date.. 27 January 2022 PagÈ 16 FELTONFLEET SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2021 Notes Z021 2020 Cash fflows from operating *¢tivities'. Net Incomellexpendlturel lorthe year Adjustmentsfor.. Depreciation charges Dividends. interest and rents from investments L055llprofitl from 531e oftangible fixed assets Ilncreaselldecrease in debtors 439.248 216,348 12 375.494 13,6461 3.420 418,751 1gJ.476 423,749 113.6201 595 24,967 89,655 Nei (ash provlded byllused Inl operatlng attl￿tIeS 1.423.743 741,694 sh Ilows from lThvestlng athvltles.. Dividends. interest and rents from investments Purchase of tangible fixed assets cash provlded byllused in) InvesttnE arti￿1[e$ 3,646 1205.2531 13,620 1541,1531 12 1201,6071 1527,5331 Change in cash and cash equiwdlents in the year 1.222.136 214,161 Cash and ￿5h equivalent5 atthe beginning olthe year I.596￿17 2,382,656 sh and cash equlvalent5 atthe end of the year 3.818,953 2,596,817 Analysls of cash and cash equlvalents Cash at bank ènd in hand Notice dep05its Ilessthan 30days1 Tot31 cash 3nd cash equivalent5 3,318,953 5(X),000 3.818,953 1,596,817 I,000,o 2,596,817 Page 17 FELTONFLEET SCHOOL TRUST LIMITED ILIMrrED BY GUAR4NTEEI NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 AUGUST ZOZI 1 sfATiJTORY INFORMATION The chariiv is 3 charitsble company, limitèd by guarantee, registered in Engl8nd Ind Wales. The registered office. company nvmber and charity number are detailed in the Le881 and Administrative 2 ACCOUNTING POLICIES 2.1 Basls of preparatlon The financial statements have been prepared under the Companie5 Act 2m6 and In accordance with the Charltles. Statement ol Re¢ommended Pra¢ti¢e ISORP IFRS10211 and Finantlal Reporting Stand8rd 102. The Charitable Company meets the definition ol a public benefit entity under FRS102. Assets and coufiting PDIicy. Monetary amounts In these financial statements are founded to the neafest pound. After reviewing the Charity's forecasts and projettions. the Governors have a reasonable expe¢taiion 2.2 In¢ome school again* those feès are a¢¢ounted for in th* period in which the service is provided. Where lees are received for a future service period they are included in deferred income, including those fees received under an advance fee payment scheme. The service5 provided are outside the scow of VAT. Investment income Isaccounted for on an accruals basis. Don3tion5, legacies. gTrnt5 and other voluntary income are accounted for 35 and when entitlement rise5, the amount can ￿ reliably measured and the economic benefit isconsidered probable. Where a donor or an appeal ha5 imposed restrictions the income Is credited to a restricted fund. Z.3 Expendlture Governance c05t5 include those costs a5SOCl3ted with meeting the constitutional 3nd Statutory requirement5 of the charity and Include the audit fees and costs linked to the strategic management of All costs are allocated between expenditure categorie5 and departments on a basis designed to reflect the use of the resource. C05t5 relatingto a particular activity are allocated directlv. 2.4 Tangible fixed a55ets and depreclation provided at rates calculated to write off the c05t le55 e5tim3ted ￿sIdUal value of each a55et over its Freehold land is not depreciated Page 18 FELT0NFLE￿ SCHOOL TRusf LIMITED (LIM￿E0 BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 2.5 Lea5in¥ and hire purchase commitments Rentals pald under operatin8 leases are char8ed a8èinst income on a stral8ht Ilne basis over the perlod of the lease. 2.6 Pensions Teaching staff are members of the Teachers, Pension Scheme ITPSI, a deflned beneflt scheme admlnistered by the Teachers. Penslon A8ency. Contributions to the scheme are charged to the Stètement of Flnanclal Activities as they fall due. The TPS is an unfunded scheme. Contributions on 8 'pay 8s you go, basis are tredited to the exchequer under arrangetnents governed by the Superannuation Act 1972. Artuarial valuations are carried out on a notional set of investments. Under the definitions Set out in FRS 102 the TPS is a multi-employer pension schetne. The Charity is unable to identify it5 Share of the underlying Inotionall 355et5 and liabilitie5 of the scheme. Accordingly, under FRS 102 the scheme 15 accounted for a5 if it were a defined contribution scheme. The Charity also contributes to personal pension scheme5 for its non-teaching staff. 2.7 Debtors Trade 3nd other debtor5 are recognised at the settletnent amount due after any trade discount. 2.8 Cash at bank and in hand Cash at bank and in hand include5 cash and short tertn highly liquid investments. The governors seek to use short and medium term dep05it5 where p055ible to maximise the return on monies held at the bank and to manage cagh flow. 2.9 Credltors and provfjslons Creditors and provisions are recognised where the ch3rity has 4 present obligation resulting from ? past event that will probably result in a transfer of funds to 3 third party 3nd the amount dueto settle the obligation can be measured or estimated reliably. 2.10 Stocks Stocks are stated at the lowÈr of cost and net realisable value bÈing the èstimated selling price lÈss tosts to tomplÈte and sÈll. 2.11 Fund accounting Unrestritted funds comprise those fijnds which can be used in accordance wlth the charitable obletts èt the discretion of the Governors. Designated funds comprise thosè funds set aside by the Governors out of gener81 funds for specific purposes or projects. Restricted funds are those funds that ian only be used for particular restricted purposes in aciordance with the wi5he5 of the donor or when funds are rsi5ed for particular restrirted purposes. 3 TURNOVER The turnover of the Charity is wholly 3ttribut3ble to the objects of the Charity a5 stated in the Governor5, Report and 15 earned entirely within the UK. PagÈ 19 FELTONFLEET SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 4 NET INCOMEIIEXPENDITUREI This 15 stated after charging.. 2021 2020 Operatin8 lease payments Depreciation 157,416 375.494 3,420 12.3(X) 18.360 97,686 423,749 588 12,600 13,(MO Auditors, remuneration- 3udit 5ervice5 Auditor5. remuneration- non-audit services S TAXATION The charitable comp3nV 15 rew5tered as a charity and all of it5 income fa115 Wlthin the exemptiOn5 under Part 11 of the Corporation Tax Act 2010. 6 INCOME FROM DONATIONS AND LEGACIES UNRESTRICTEO RESTRICTED DESIGNATED TOTAL 2021 TOTAL 2020 Donations 2,0 2.OC¥J 19,939 7 INCOME FROM INVESTMENTS UNRESTRicfEO RESTRicfED DESIGNATED TOTAL 2021 TOTAL 2020 3,646 3,646 13,620 8 INCOME FROM CHARITABLE A￿1vInEs TOTAL 2021 TOTAL 2020 Gross school fees less bur53rie5 3nd allowances Net school fees Add.. Registration fees Extra5 income Other income School bus/transport Income 7,836,636 1817.5701 7,019,066 7,210,￿1 1,042,066> 6,168,835 21,673 113.172 46,622 57,225 7,257,763 21,491 68,729 84,357 62,663 6,406,075 Included within bur53rie5 and allow3nces 15 3 totsl of £322,96912020.. £570,738) Covid-19 re13ted discounts given to parents during the periods of remote learnlng. Page 20 FELT0NFLE￿ SCHOOL TRusf LIMITED (LIM￿E0 BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 9 ANALYSIS OF EXPENDITURE Depreciation Other 5t5 Total 2021 Total 2020 Costs Charitable expenditure Education Teaching Welfare Premises Support and governance Total Charitable expendlture 3.686,443 100.162 247,915 583,973 4,618,493 375.494 322,940 4,384,877 457,260 557,422 621,968 869,883 428,006 1,011,979 375.494 1,830,174 6,824,161 3,990,123 473,967 839,932 919,264 6,223,286 Analysis ol support and govemance co￿S.. 2021 2020 Govemante tosts.. Auditor5 remuneration for audit sèrvices Total governanie costs 12.300 12.300 12,600 12,600 Support C05t5'. Auditor5, remunerHtion for non audit services Legal and professional fees relating to support Support Staff wages, nation31 insurance and pension Other support costs 18.360 31,997 583,973 364,349 13,040 36.910 466,030 390,684 1.011.979 919,264 PagÈ 21 FELT0NFLE￿ SCHOOL TRusf LIMITED (LIM￿E0 BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 10 STAFF COSTS The average monthly nutnber of employees during the year wa5.. 2021 Number 2020 Number Teaching Domestic Administration 67 18 17 102 64 17 14 95 The aggregate payroll c05t5 for the year were a5 follows.. 2021 2020 WaEes and Salaries 3,624,820 3,152,762 357,679 315,763 635,994 575,613 4,618,493 4,044,138 Pension costs None of the Governor5 received any remuneration, reimbursed expense5 or other benefit5 from the school or Bny connected body. During the ye3rthere were statutory redundancy payments made totalling £16,140 and exgratia payments for redundancy totalling £8,86012020.. £Nill. staff earning in excess of £60,000 per annum in the following bands are.. 2021 Number 2020 Number £60,000- £69,999 £70,000- £79,999 £80,000- £89.999 Of the employees whose emoluments exceed £60,000, 1 12020.. 11 has retirement benefits accruing under defined contribution schÈmes and 2 12020.- 21 have benefits actruing under defined benefit sihetne5. Contribution5 payable by the Company to those 5chetne5 for higher paid etnployees were.. 2021 2020 Defined contribution Schemes Defined benefit schemes 5,021 34.099 5,021 34,099 PagÈ 22 FELT0NFLE￿ SCHOOL TRusf LIMITED (LIM￿E0 BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 10 STAFF COSTS cont'd The key tnanagement personnel of the School are detailed in the Govemors, Report and Legal and Administrative Information. 2021 2020 Aggregate Èmployee benefits of key man8gÉment personnel lintluding employer national insurance and pension contributions) l.C#J3.896 962,411 The School has a Senior LeadershipTeam of seven focU￿1ng on the strategic elements of managing the School. In addition, there is a Senior Management Team of six who focus on the operational runnin8 of the School. All of these individuals make up key management personnel. 11 COMPARATIVE STATEMENT OF FINANCIALACTIVITIES- 31 AUGUST 2020 Unrestricted Restricted Fund5 Fund5 Designated Funds Total 2020 INCOME FROM.. Donations and legacie5 Investments 19,939 19,939 13,620 6,406,075 6,439,634 13,620 6,406,075 6,419,695 Total Income 19,939 EXPENDITURE ON.. 6,223,286 6,223,286 6,223,286 6,223,286 Total expendlture Net intome 196,409 19,939 216,348 Transfèrs bètween funds 48,627 124,0(N)I 124,6271 Nel movemenl in fund5 245,036 124,OCH)I 14,6881 216,348 Fund balènces brought forw3rd 7,869,872 72.000 250,WO 8.191,872 Fund balances tarried forward 8,114,908 48,000 245,312 8,408,220 PagÈ 23 FELT0NFLE￿ SCHOOL TRusf LIMITED (LIM￿E0 BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 12 TANGIBLE FIXEDASSETS Freehold Land and Buildings Fixtures, Fitting5 & Equipment Motor Vehicles Total Cost At I September 2020 10,657,420 425.984 255.418 11,338,822 Additions 176,362 25,831 3.060 205253 Disposals 187,2261 187,2261 At 31 August 2021 10,833,782 451,8L5 171,252 IIA56,B49 Depreciation At I September 2020 3,492,707 216,411 226,973 3.936.091 Charge foryear 320,419 45,547 9,528 375A94 Eliminated on di5PQ5al 183.8061 (s3￿6) At 31 August 2021 3,813,126 261,958 152,695 4,227,779 Net Bookvalue At 31 August 2021 7.020.656 189.8S7 18.557 7.229,070 At 31 Au8USt 2020 7,164,713 209,573 28,445 7,402,731 PagÈ 24 FELT0NFLE￿ SCHOOL TRusf LIMITED (LIM￿E0 BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 13 DEBTORS 2021 2020 Fee debtors Prep8yments Bnd accrued incorne Other debtors 1,142,584 1,576,138 50,748 36,624 4,204 3,525 1.197.536 1,616,287 14 CREDITORS.. due within one year 2021 2020 Tr8de creditor5 Accruals and other creditor5 Fees In Advance Deposits Other taxes and social security 98,099 67,923 58,170 14.767 2,695,765 2,447.701 546,057 603.108 74.116 3,398,091 3,207,615 Fees in advance represent amounts due for Winterterm 2021. 15 COMMITMENTS UNDER OPERATING LEASES At 31 August 2021 the company had tot31 commitments under non-cancellable operating leases payable as follows.. zozi 2020 Within one year Between one ènd five years 182,712 183.455 366,167 115,289 175,192 290.481 16 OTHER FINANCIAL COMMITMENTS Capltal commltments At the ba13nce sheet date the School wa5 not committed to pay any c05t5 in relètion to ongoing buildinE work512020.. £Nill- PagÈ 25 FELT0NFLE￿ SCHOOL TRusf LIMITED (LIM￿E0 BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 17 PENSION COMMITMENTS The School participates in the Teachers, PensSon Scheme 1.the TPS'I for its teachin8 Staff. The penslon char8e for the year includes contributions payable to the TPS of £586,82212020.- £534,916) and at the year-end £nil 12020- £nlll was accrued In respert of contributions to this scheme. The TPS is an unfunded multi-employer defined benefits pÈnsion scheme governÈd by The TÈachÈrs' Pensions RÈgulation$ 2010 las atnÈndedl and The Te3thers' Pension SthetnÈ Regulation$ 2014 las atnÈndedl. Members iontribute on a "pay a5 YOU 80" basi5 Wlth contribution5 from metnber5 and the employer being credited to the Exchequer. Retirement and other pen5i0n benefits are paid by public fvnds provided by Parliarnent. The employer contribution rate 15 set by the Secretary of State following scheme valuations undertaken by the Govemment Actu3ry's Department. The most recent actuiri81 valu3tion of the TPS wa5 prepared 85 8t 31 March 2016 and the Valuation Report. which w35 published in March 2019, confirmed that the employer contribution rate for the TP5 would increase from 16.4% to 23.6% from I September 2019. Employers are also required to pay a scheme administration le￿ 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 èt 5 March 2019. However, the ssumptions were considered and set by the Department for Education prior to the ruling in the 'McCloud/Sargeant case,. Thls case has required the courts to consider cases regardlng the Smplementation of the 2015 reforms to Public Service Pensions includlng the Teachers, Pensions. On 27 lune 2019 the Supreme Court denied the Governtnent permission to appeal the Court of Appeal's judgment thtt transitional provisions introduced to the refortned pension Schemes in 2015 gave rise to unlawful age discrimination. The Governtnent 15 respecting the Court's decision and ha5 said it will engage fully with the Employment Tribunal a5 well as employer and member representative5 to agree how the di5crimination5 will be remedied. The Government announced on 4 February 2021 that it intends to proceed with H deferred choice underpin under which members will be Hble to choose either legHcy or reformed scheme benefits in respect of their Service during the period between l April 2015 and 31 March 2022 at the point they become pay3ble. The TPS is subjett to a cost cap mÈthanism whith was put in place to protett taxpayers against unforeseen changes in stheme tosts. The Chief SÈtrÈtary to thÈ Treasury, havin8 in 2018 announced that thÈre would be a reviÈw of thi5 Cost cap tnÈch3ni5m, in January 2019 announced a pause to thÈ t05t tap mechanism following the Court of Appeal's ruling in the MICloud/Sargeant ia5e and until there is certainty about the value of pen5ion5 to employee5 from April 2015 onward5. The pause wa5 lifted in July 2020, and a consultation wa5 launched on 24 June on proposed change5 to the cost control mechanism following a review by the Govemment Actuary. The consultation closed to re5pgnse on 19 August 2021 and the Government IS currently analysingthe re5ponse5. In view of the above ruling5 and decisiong the a59umption5 Used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario, H Valuation prepared in accordlnce with revised benefit5 ond suitsbly revised a55UnlPt10115 would yield different results than those contained in the Actuarial Valu3tion. Until the c05t cap mechanism review 15 completed it 15 not PQS5ible to conclude on any financial impact or future chHnges to the contribution rates of the TPS. Accordingly no provision *or 3ny additional past benefit pension c05t5 is included in these financial statements. PagÈ 26 FELT0NFLE￿ SCHOOL TRusf LIMITED (LIM￿E0 BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 17 PENSION COMMITMENTS cont'd The School also contributes to defined contrlbutSon schemes on behalf of Its other staff. Employer contributions payable to these schemes were £49,17212020-. £40,697) and at the year end £nil12020-. £nill was accrued in respect of contrlbutlons due to these schemes. 18 SHARE CAPITAL AND CONTROL The Charity is limited by guarantee and does not have a share capital. In the event of a windin8 up each member guarantees to contribute an amount of no more than £1. 19 RELATED PARTIES There were no related partytran5actiOn5 durin8 the year12020'. none). 20 SUMMARYOFFUND MOVEMENTS At I Sept 2020 Income Expenses Tran5ter5 At31 AuEUSt 2021 Unrestricted fvnd5 General reserves Designated funds 8,114,908 245,312 8,360,220 7,263,409 16.824.161) 53,391 129.3911 24,000 8,607,547 215,921 8,823,468 7.263,409 16,824,161) Restrirted fvnd5 Holroyd Howe 48,000 48,000 124.0001 124.0001 24,0(K) 24,0(K) Total fund5 8,40S,220 7,268,409 16.824.161) 8,847,46S Designated funds.. The Governor5 designated fund5 in order to provide for the provision of bursaries. Restricted fvnds: In 2017 the School entered into a contract with Holroyd Howe for catering Services and as part of that agreement Holroyd Howe provided B donation of £120,000 towards the refurbishment of the kitchen. Should the school end the contract within five ye3r5 they Bre required to pay back the donation pro-r3ta with the term of the contract rem3ining. The transfer to unrestricted fund5 Bbove represents the pro rata amount for the year PagÈ 27 FELT0NFLE￿ SCHOOL TRusf LIMITED (LIM￿E0 BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 21 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds Designated Fund5 Restricted Funds Total 2021 At31Au st 2021 Tangible fixed assets Current assets Creditors.. less than one ye8r 7.229,070 4.776.568 13.398.0911 8,607,547 7,229,070 5,016,489 13,398,091) 8,847,468 215.921 24.000 215,921 24,000 Vnrestrirted Funds Designated Fund5 Restricted Funds Total 2020 arative Funds At31A ust 2020 Tangible fixed assets Current assets Creditors.. less than one year 7,402,731 3,919,792 13,207,615> 8.114,908 7,402,731 4,213,104 13,207,615) 8,408,220 245.312 48.000 245,312 48,000 PagÈ 28