2020-07-31-accounts

CONTENTS			PAGE
Governors, Officers and Advisers
Annual Report ofthe Governors
Governors' Responsibilities Statement			18
Independent Auditor's Report tothe Members			19
Statement of Financial Activities (incorporating	the Income and Expenditure	Account)	22
Balance Sheet			23
Cash Flow Statement			24
Notes tothe Financial Statements			25

Advisers
Independent		Auditor	Kreston Reeves	LLP
			Springfield House
			Springfield Road
			Horsham
			West Sussex
			RH12 2RG
Bankers			Barclays Bank Pic
			90-92 High Street
			Crawley
			West Sussex
			RH10 1BP
Solicitors			Farrer Ik Co LLP
			66 Lincoln's Inn	Fields
			London
			WC2A 3LH
Insurance	Brokers		Marsh Limited
			1-5Perrymount	Road
			Haywards Heath
			Surrey
			RH16 3SY
Website			www. boxhillschool. corn

umber ofbursaries and scholarships a	warded during the year	:
		2020		2019
Bursaries and sibling discounts	30pupils	6282,967	24 pupils	6206,953
Scholarships	116pupils	6277,228	104pupils	6283,887
		6560,195		6490,840

				Unrestricted	Total	Total
				funds	funds	funds
				2020	2020	2019
			Note	8	6	E
Income from:
Donations and legacies				211,472	211,472	64,029
Charitable activities:
School fees receivable				8,863,553	8,863,553	9,778,846
Ancilliary trading	income			396,402	396,402	597,423
investments				366	360	2,428
Other income				4,545	4,545	97
Total Income				9,476,338	9,476,338	10,442,823
Expenditure on:
Charitable activities				9&413,900	9,413,909	9,718,088
Other expenditure			9	203,039	203,039	200,539
Total expenditure				0,616,948	9,618,948	9,918,627
Net movement in	funds			(140,610)	(140,610)	524,196
Reconciliation of	funds:
Total funds brought		forward		7,640,002	7,648,092	7,123,896
Total funds carried		forward		7,507,482	7,507,482	7,648,092

for the year ended 31July		2020
						2020	2019
						5
Cash flows from operating		activities
Net cash used in operating	activities					96,834	1,230,481
Cash flows from investing		activities
Dividends, interests and rents from investments						366	2,428
Purchase oftangible assets						(473,742)	(335,133)
Sales proceeds from tangible		fixed assets				17,974
Net cash used in investing		activities				(455,402)	(332,705)
Cash flows from financing		activities
Repayments of borrowing						(6,448,480)	(453,737)
New loans						6,811,772	183,118
Capital element offinance lease rentals						(74,237)	(8,998)
Interest paid						(203,039)	(200,539)
Net cash provided by/(used		in) financing		activities		86,016	(480,156)
Change in cash and cash	equivalents		in	the year		(272,552)	417,620
Cash and cash equivalents	at the beginning			ofthe year		1,293,052	875,432
Cash and cash equivalents		at the end	of	the year		1,020,500	1,293,052
The notes on pages 25 to47		form part ofthese financial			statements

	Unrestricted	Restricted	Total
	funds	funds	funds
	2020	2020	2020
	6	6	6
Donations	1,817		1,817
Grants	209,655		209,655
Total 2020	211,472		211,472
	Unrestricted	Restricted	Total
	funds	funds	funds
	2019	2019	2019
		8	F
Donations	34,029	30,000	64,029

		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
		S	8	8
Teaching and Academic Services (Note 5)		8,863,553	8,863,553	9,778,846
Ancillary trading	income (Note 6)	396,402	396,402	597,423
Total 2020		9,259,955	9,259,955	10,376,269

School fees	receivable
		2020	2019
		8
Board and tuition fees		9,313,991	10,139,446
Fees in lieu	of notice	109,757	66,512
Scholarships	and bursaries	(560,195)	(490,840)
Bursaries reserve reallocation			63,728
		8,863,553	9,778,846

Ancillary tra	ding income
		2020	2019
		8	F
Income from	extra tuition	193,284	252,922
Courses and	sub-letlings	182,092	307,848
Registration	fees	21,026	36,653
		396,402	597,423

		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
				5
Investment	income - other local unlisted			2,250
Bank interest receivable		366	366	178
Total 2020		366	366	2,428

						Unrestricted	Total	Total
						funds	funds	funds
						2020	2020	2019
						6
Gain	on	disposal	oftangible	fixed	assets	4,545	4,545	97

	Unrestricted	Total	Total
	funds	funds	funds
	2020	2020	2019
	5		F
Interest on bank loans and overdrafls	168,766	168,766	179,264
Finance lease charges	34,273	34,273	21,275
Total 2020	203,039	203,039	200,539

	Activities
	undertaken	Governance	Total
	directly	costs	funds
	2020	2020	2020
Teaching and Academic Services	5,349,948		5,349,948
Welfare	1,184,698		1,184,698
Premises	1,052,517		1,052,517
Support	1,740,292		1,740,292
Governance		86,454	86,454
Total 2020	9,327,455	86,454	9,413,909

	Activities
	undertaken	Governance	Total
	directly	costs	funds
	2019	2019	2019
		F
Teaching and Academic Services	5,261,767		5,261,767
Welfare	1,401,044		1,401,044
Premises	1,152,671		1,152,671
Support	1,834,330		1,834,330
Governance		68,276	68,276
Total 2019	9,649,812	68,276	9,718,088

		Teaching
		and
		Academic				Total
		Services	Welfare	Premises	Support	funds
		2020	2020f	2020	2020	2020
Staff costs		4,260,441	380,899	384,831	1,259,172	6,285,343
Depreciation		263,753	222,522	5,471	26,598	518,344
Supply staff	costs	15,175				15,175
Staff discounts		103,008				103,008
Advertising	and introductory
fees		220,197			66,419	286,616
Text books	and equipment	216,704				216,704
Maintenance				37,847		37,847
Food and subsistence			440,047			440,047
Other overheads		270,670	141,230	624,368	388,103	1,424,371
Total 2020		5,349,948	1,184,698	1,052,517	1,740,292	9,327,455
		Teaching
		and
		Academic				Total
		Services	Welfare	Premises	Support	funds
		2019	2019	2019	2019	2019
		F	F		F	F
Staff costs		3,948,326	405,797	417,870	1,260,856	6,032,849
Depreciation		246,130	202,884	1,195	45,111	495,320
Supply staff	costs	94,953				94,953
Staff discounts		95,312				95,312
Advertising	and introductory
fees		236,656			69,192	305,848
Text books	and equipment	215,453				215,453
Maintenance				136,098		136,098
Food and subsistence			607,534			607,534
Other overheads		424,937	184,829	597,508	459,171	1,666,445
Total 2019		5,261,767	1,401,044	1,152,671	1,834,330	9,649,812

								Total
							Governance	funds
							2020	2020
Current year
Auditor's remuneration							16,140	16,140
Governors' expenses							4,440	4,440
Administration	costs						65,874	65,874
Total 2020							86,454	86,454
								Total
							Governance	funds
							2019	2019
							F
Prior year
Auditor's remuneration							16,493	16,493
Governors' expenses							3,736	3,736
Administration	costs						48,047	48,047
Total 2019							68,276	68,276
Auditors' remuneration
							2020	2019
								F
Fees payable	to the charitable		company's		auditor	for the audit ofthe
charitable company's		annual	accounts				12,600	13,200
Fees payable	to the charitable		company's		auditor	in respect of:
All non-audit	services not included			above			3,540	3,293

year ended Staffcosts	31July	2020
				2020	2019
					0
Wages and	salaries			5,019,344	5,015,868
Social security costs				508,718	484,008
Contribution	to defined	contribution	pension schemes	757,281	532,973
				6,285,343	6,032,849

2020	2019
No.	No.
143	144

			2020	2019
Teaching:	Full	time	52.40	54.00
	Part	time	12.60	20.50
Support:	Full	time	14.50	11.00
	Part	time	16.88	11.50
Welfare:	Full	time	11.42	11.00
	Part	time	7.33	6.46
Premises:	Full	time	9.00	11.00
Average	FTE		124	125

				2020	2019
				No.	No.
In	the	band	660,001 - F70,000
In	the	band	f70,001 - F80,000
In	the	band	f100,001 - F110,000
In	the	band	f110,001 - F120,000

			Computers,
	Freehold	Fixtures and	software	Motor
	property	fittings	and network	vehicles	Total
		6	6	6	5
Cost
At 1 August 2019	16,045,581	1,494,644	368,619	226,691	18,135,535
Additions		435,737	38,005		473,742
Disposals				(89,762)	(89,762)
At 31 July 2020	16,045,581	1,930,381	406,624	136,929	18,519,515
Depreciation
At 1 August 2019	1,781,112	859,158	157,371	190,859	2,988,500
Charge for the year	312,544	128,800	65,000	12,001	518,345
On disposals				(76,333)	(76,333)
At 31 July 2020	2,093,656	987,958	222,371	126,527	3,430,512
Net book value
At 31 July 2020	13,951,925	942,423	184,253	10,402	15,089,003
At 31 July 2019	14,264,469	635,486	211,248	35,832	15,147,035

The net boo as follows:	k value ofassets held under finance lea	ses or hire purchase contracts,	included a
		2020	2019
Computers,	software and network	206,776	206,776
Motor vehicles		35,834	35,834

	Shares in
	group
	undertaking
	6
Cost
At 1 August 2019	100
At 31July 2020	100

		2020	2019
Fees receivable		2,514,312	2,818,862
Other debtors		29,758	9,797
Non fee debtors		29,078	52,056
Prepayments	and accrued income	19,809	118,236
		2,592,957	2,998,951

				2020	2019
				6	6
Bankloans				395,418	519,655
Trade creditors				16,323	220,842
Other taxation	and social security			107,412	134,422
Net obligations	under	finance lease and hire purchase	contracts	61,827	68,143
Deposits				241,180	293,462
Advance fees				280,726	317,094
Deposits				200,140	156,476
Accruals and deferred		income		2,977,491	3,484,301
				4,280,517	5,194,395

advance.	The mone	y may be returned subject to specific conditions	on the receipt ofone term's notice.
			2020
			6
Advance	fees at 1 August 2019		317,094
Resources deferred		during the year	183,077
Amounts	released	from previous years	(219,445)
Advance	fees at 31July 2020		280,726

				2020	2019
				6	6
Bankloans				6,231,902	5,744,373
Net obligations	under finance lease and	hire purchase	contracts	78,968	146,889
Other creditors				603,691	705,389
				6,914,561	6,596,651
Included within	the above are amounts	falling due as	follows:
				2020	2019
				6
Between one and two years
Bankloans				374,640	519,655
Between two and five years
Bankloans				5,857,262	1,897,960
Over five years
Bankloans					3,326,758

Obligation	s u	nder	fina	nce leases and hire purchase con	tracts, included above, are payable as	follows:
					2020	2019
						6
Between	one	and	five	years	78,968	146,889
					78,968	146,889

Statement offunds	- current year
		Balance at 1			Balance at
		August 2019f	Income 8	Expenditure 6	31July 2020 8
Unrestricted funds
Designated funds
Bursary reserve		96,708	(31,243)		65,465
General funds
General Funds		7,551,384	9,507,581	(9,616,948)	7,442,017
Total Unrestricted	funds	7,648,092	9,476,338	(9,616,948)	7,507,482

Statement		offunds	- prior year
				Balance at
				1 August			Transfers	Balance at
				2018	Income	Expenditure	in/out	31 July 2019
				E	E	6		6
Unrestricted		funds
Designated		funds
Designated		Fund -	Fundraising
Reserve					34,029	(34,029)
Designated		Fund -	Bursary
Reserve					63,708	(490,840)	523,840	96,708
					97,737	(524,869)	523,840	96,708
General funds
General Funds				7,123,896	10,314,989	(9,393,661)	(493,840)	7,551,384
Total Unrestricted			funds	7,123,896	10,412,726	(9,918,530)	30,000	7,648,092
Restricted		funds
Restricted	Funds -		Sports
equipment					30,000		(30,000)
Total offunds				7,123,896	10,442,726	(9,918,530)		7,648,092

Analysis ofnet assets between funds - current period
	Unrestricted	Total
	funds	funds
	2020	2020
Tangible fixed assets	15,089,003	15,089,003
Fixed asset investments	100	100
Current assets	3,613,457	3,613,457
Creditors due within one year	(4,280,517)	(4,280,517)
Creditors due in more than one year	(6,914,561)	(6,914,561)
Total	7,507,482	7,507,482

Analysis ofnet assets between funds - prior period
	Unrestricted	Total
	funds	funds
	2019	2019
	F
Tangible fixed assets	15,147,035	15,147,035
Fixed asset investments	100	100
Current assets	4,292,003	4,292,003
Creditors due within one year	(5,194,395)	(5,194,395)
Creditors due in more than one year	(6,596,651)	(6,596,651)
Tl	7,648,092	7,648,092

21.	Reconciliation of	ne	t	movement	in funds to net cash flow from	operating	activities
							2020	2019
							6	6
	Net income/expenditure			for the period (as per Statement of Financial
	Activities)						(140,610)	524,196
	Adjustments for:
	Depreciation charges						518,345	495,318
	Impairment of investments							250
	Dividends, interests and rents from				investments		(366)	(2,428)
	Loss/(profit) on the	sale offixed assets					(4,545)
	Decrease/(increase)		in	debtors			405,994	(2,871,144)
	Increase/(decrease)		in	creditors			(885,023)	2,883,750
	Interest payable						203,039	200,539
	Net cash provided	by		operating	activities		96,834	1,230,481
22.	Analysis ofcash	and		cash equivalents
							2020	2019
							6
	Cash in hand						1,020,500	1,293,052
	Total cash and cash equivalents						1,020,500	1,293,052
23.	Analysis ofchanges		in net debt
					At 1	August		At 31July
						2019	Cash flows	2020
						6		F
	Cash at bank and	in	hand		1,293,052		(272,552)	1,020,500
	Debt due within 1 year				(519,655)		124,237	(395,418)
	Debt due after 1 year				(5,744,373)		(487,529)	(6,231,902)
	Finance leases				(215,032)		74,237	(140,795)
					(5,186,008)		(561,607)	(5,747,615)

under non-	ca	ncellable operating leases as follows:
			2020	2019
			6	6
Not later than		1 year	63,011	80,542
Later than	1	year and not later than 5years	38,355	99,225
			101,366	179,767