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2020-08-31-accounts

Legaland
administrative		 details ......................................................................, details ......................................................................, details ......................................................................, ....3
Governors'
Report		 .5
Vision, Mission Statement,
Aims		 and Key Activities. .S
Governance
and Management
..		 .7
Reserves Policy.. 8
Future Developments. .9
Statement ofGovernors'
Responsibilities.		 .10
Strategic Report .. .11
Independent
Auditor's		 Report to the members of Halliford School Limited ... ....19
Statement of Financial Activities. .22
Balance Sheet.. .23
Statement
ofCash flows.		 .24
Notes to the Financial Statements ................................................................... .25

Risks for an independent Risks for an independent school school Mitigation
COVID-19, the impact on the independent Providing parental reassurance that the
school sector. remote education offered is outstanding in
the event ofa lockdown or self-isolation.
Ability
to		 continue
to		 deliver a remote
education for 2020-21 and prepare pupils Providing business as usual despite student
for the 2021 round of public exams. , and staff not attending
the		 site.
Revision of
fee		 discount and hardship '
Reduction in fee income if the school if policies to ensure they are fit for purpose
forced
to		 close
in the		 event of national underthechangedcircumstances.
lockdown.
Appointment
of new Head ofSixth		 Appointment
of new Head ofSixth		 Form.
Managing the cash flow
in light of		 income Continuous monitoring
ofthe cash		 flow and
received termly
and
outgoings		 occurring meticulous planning
around		 payment
year round. Greatest spend occurring during schedules in the summer.
the summer
holiday period.
Inability for parents to pay fees on time. Robust
debt
management
policies
and
procedures in place.
External political
changes
leading		 to Affordability
of
school
fees
by		 parents '
increased costs
and
uncertainty		 (for leading to detrimental
impact on cash flow.
example potential
introduction
of		 VAT on
school
fees,
removal
of
Business		 rates, Ability to maintain
a level ofsurplus		 funds to
Brexit
and
contribution
changes		 for the cover
the		 possible
cash
flow		 shortage,
Teachers' Pension Scheme. ) increased depreciation
costs and		 bank loan
repayments.
Compliance with
new
immigration
regulations and compliance.
Impact of Brexit on food and fuel shortages Inflation ofspending
in next year budget and
or inflation of pricing. beyond.
Increasing cyber
risk
in
school		 and the Outsourced IT provision
providing
robust
possibility leading to loss of data, potential knowledge and
skills,
software
experience		 '
data breach and fraud. and data storage/
recover facility.

2019 20 2018/19
Unrestricted
Unrestricted Revaluation Restricted Endowment Total Funds Total Funds
Funds Funds Funds
Reserve
E E E E
No'tes
Income and Endowments from
Oonauons
gr Legacies		 3a 0 8,493 8,493 20,889
Investment
Income		 3b 8,450 121 147 8,718 9,422
Incoming from
activities		 charitable 3c 7,260,412 7,260,412 6,953,412
Total Incoming Resources 7,268,862 0 8,614 147 7,277,623 6,983,723
Ex enditure
on		 Charitable
Activities
School Services 3d 3,811,346 235 3,811,581 3,612,074
Support Costs 3e 2,333,085 8,040 2,341,125 2,079,280
Bursaries and Scholarships 3c 549,379 549,379 521,506
Total Resources Expended 6,693,810 0 8275 0 6702085 6,212,859
Net income(expenditure) and
net movement in funds forthe 575,052 0 339 147 575,538
year
Transfer between
funds
Gains/(losses)
offixed assets		 on revaluation 103,330 (103,330)
Net Movement in Funds 678382 103330 147 575538 770863
Total Funds brought forward 6,806,581 4,959,858 111,615 98,984 11,977,038 11,206,174
Fund Balances at 31August 20 7,484,963 4,856,528 111,954 99,131 12,552,576 11,977,038

2019/20 2019/20 2018/19
Unrestricted Restricted Endowment
Total Total
Funds Funds Funds
f E E
Notes
Fixed Assets
Tangible Assets Sa-b 13,161,268 22,112 0 13,183,380 13,553,258
13161268 22,112 0 13,183380 13,553,258
Current Assets
Debtors Sc 179,229 179,229 187,766
Cash at bank and in hand 2,853519 89,842 99,131 3,042,492 2,686,983
3,032,748 89,842 99,131 3,221,721 2,874,750
Liabilities
Creditors: amounts
within one year		 falling due 5d (1,277,315) 0 0 (1,277,315) (1,576,026)
Net Current assets 1755433 89842 99,131 1,944,406 1,298,724
Total assets less current liabilities 14,916,701 111,954 99,131 15,127,786 14,851,982
Creditors: amounts
falling due
after more than one year		 Sf (2,575,210) 0 0 (2,575,210) (2,874,943)
Total Net Assets 12,341,491 111,954 99131 12,552,576 11,977,039
Profit and Loss Fund 7,484,963 111,954 99,131 7,696,048 7,017,181
Revaluation
Reserve
Funds		 4,856 528
h», 3		 0 9 18

202972020 202972020 2018 2019
Unrestdcted Funds Restricted Funds Endowment Fund All Funds
Cash flows from operating activities:
Netcashprovidedby(usedinloperatingactivities 6a 822,251 8,258 1,422,369
Cash flows from investing activities:
Proceeds from the sale of propeny,
plant and
equipment
Purchase of property,
plant and equipment		 (80,978) (5,135) 0 (86,113) (499,703)
Interestreceived 8450 121 147 8,718 9,422
Net cash provided
by (used in) investing activities		 (72,528) (5,014) 147 (77,395) (490,281)
Cash flows from financing activities:
Repayments
of borrowmg
(Bank loan and finance
leasel		 (292,975) (292,975) (279,522I
Cash i nfl
owe from new borrowing		 0 0
Interest paid 104630 104,630
Net cash provided
by (used in) financing activities		 (397,605) 0 0 (397,605) (279,522)
Change
in cash and cash equivalents
in the
reporting
period		 352,118 3,244 147 355,509 652,565
Cash and cash equivalents
at the beginnmg ofthe
reporting
penod		 2,501,401 86,598 98,984 2,686,983 2,034,417
Cash and cash equivalents
at the end ofthe
reporting
period		 6b 2,853,519 3,042,492

Com
arativ		 estoSO Afro m
r		 ior
ear
2018 19 2017 18
Unrestricted Unrestricted Restricted Endowment
Revaluation Total Funds Total Funds
Full dc Funds Funds
Reserve
E E
Notes
income and Endowments from
Donations
&Legacies		 3a 14,439 6,450 20,889 29,637
Investment
income		 3b 9,008 233 180 9,422 3,449
Incoming from
actlvltles		 chantable 3c 6,953,412 6,953,412 6,417,473
Total Incoming Resources 6,976,859 0 6,683 180 6,983,723 6,450,559
Actlwties
School Services 36 3,611,814 3,612,074 3,464,937
Support Costs 3e 2,079,280 2,079,280 1,921,605
Bursaries and Scholarships 3c 521506 521,506 535,812
Total Resources Expended 6212599 0 260 0 6212 859 5 922 355
Net Income(expenditure) and
net movement in funds forthe 764,260 0 6,423 180 770,863 528,205
year
Transfer between
funds
Gains/(lossesl
offixed assets		 on revaluation 103,330 f103,330)
Net Movement in Funds 867590 103330 6423 180 770,863 528,204
Total Funds brought forward 5,938,991 5,063,188 105,191 98,804 11,206,175 10,677,970
Fund Balances at31August 19 6,806,581 4,959,858 111,615 98,984 11,977,038 11,206,174

2020 2019
f E
The School's fee income comprises:
Gross Fees 6,758,028 6,524,958
Less bursaries, scholarships and staff discounts (549,379) (521,506)
6,208,648 6,003,453
Bursaries 336,868 379,928
Hardship
Fund		 52,563
Scholarships 66,747 51,718
Staff Discounts 93,201 89,860
Total 549,379 521,506
Other Educational Income
Catering 252,110 287,668
Coach Service 123,332 131,763
Rental Income 5,808 6,792
Insurance
Receipts		 0 2,231
Other Income Commission etc 5,158 0
Income Grants Receivable 115,978 0
Total 502,385 428,454
Unrestricted Income from Charitable Activities 7,260,412 6,953,412

2020 2019
f f
Personnel
Costs		 3,230,099 3,001,988
Other Costs 579,972 609,826
School Services 3p810,071 3,611,814
Personnel
Costs		 2020 2019
Salaries 2,476,325 2,407,116
Nl 262,465 252,002
Pension Contributions 491,309 342,869
Total 3,230,099 3,001,988
Staff Numbers
- FTE		 2020 2019
Academic Teaching 51 48
Academic Support 7 6
Total 58 54
Staff Numbers-Average Number 2020 2019
Employed
Full Time 47 45
Part Time 19 18
Total 66 63
Other Costs 2020 2019
Staff Related Costs 8,181 15,356
Departmental
Resources		 190,548 218,577
School Events 4,240 21,337
ITRelated
Costs		 119,643 142,803
Transport
Related Costs		 238,731 206,139
Pupil Related
Costs		 18,864 5,615
Total Other Costs 580,207 609,826
The following
number ofemplo		 yees
received benefit		 s totalling
2020 2019
E60,000and E70,000 1 2
E70,001and E80,000 1
E80,001and E90,000
E90,001and f100,000

e. Support C o st s
2020 2019
E E
Personnel
Costs		 737,445 731,039
Other Casts 1,603,680 1,348,241
Total School Service Costs 2,341,125 2,079,280
Staff Numbers - FTE 2020 2019
Domestic 7 8
Property 1 2
General 9 11
Total 17 21
Staff Numbers -Average Number Employed 2020 2019
Full Time 14 14
Part Time 15 14
29
Personnel
Costs		 - Domestic 2020 2019
Salaries 221,491 248,220
Nl 10,018 13,433
Pension Contributions 23,404 29,463
Total Domestic 254,913 291,116
Personnel
Costs		 —General 2020 2019
Salaries 334,588 314,178
Nl 32,048 29,236
Pension Contributions 61,032 49,642
Total Admin 427,668 393,055
Personnel
Costs		 - Property 2020 2019
Salaries 45,462 38,205
Nl 4,372 3,800
Pension Contributions 5,030 4,863
Total Property
Total Personnel Costs 737,445 731,039
Other Costs 2020 2019
Catering Costs 114,268 126,335
Grounds
and Property		 Maintenance 473,757 400,162
Property
Supplies		 and Equipment 130,135 48,573
Admin Resources, Equipment and Marketing 154,605 190,224
Serv ice Costs 228,873 171,046
Staffing and Recruitment Costs 26,910 23,833
Depreciation 455,603 364,973
Auditors
remuneration:
Statutory
audit		 19,530 18,070
Assurance
services other		 than audit 0 1,095
Other financial services 0 3,930
Total Other Costs 1,603,680 1,348,241

Balance at Incoming Resources Balance at
31Aug 19 Resources Expended 31Aug 20
Endowment
Funds
Endowment
Funds		 98,984 147 0 99,131
Total Endowment
Funds		 98,984 147 0 99131
Bursary and Scholarships
Ad. Vincent 71,226 108 71,334
Restricted Donations
Music department 31,326 8,040 23,285
Prizes and Awards
A. Hitchens - Memorial 2,534 4 20 2,518
Guy Valadon - Single Science 1,229 2 20 1,211
J Hobbs - Memorial 1,292 2 0 1,294
John Crook 1,072 2 20 1,054
John Lewis —History 156 0 20 137
Ken Russell
—Trophy		 151 0 20 132
Neil Jones-Memorial Fund 119 0 20 99
Norma Cook —Senior Latin 220 0 20 201
Peacock —Latin 533 1 0 534
Peter Groves -Chemistry 556 1 0 557
Wendy Simmons —MFL 437 1 20 418
Bahadur Sunderji -Further Maths 160 0 20 141
Crosby
—Maths Prize		 407 1 20 387
Valerie Brooking - History Prize 15 0 15 0
Oliver Griffin - Government and Politics 180 0 20 161
Total Prizes and Awards 9,063 14 235 8,842
Total Restricted
Funds		 11tp615 gp614 8,275 111,953

Balance at Incoming Resources Balance at
31Aug 18 Resources Expended 31Aug 19
Endowment
Funds
Endowment
Funds		 98,804 180 0 98,984
Total Endowment
Funds		 98,804 180 0 98,984
Bursary and Scholarships
A.J.Vincent 71,087 139 71,226
Restricted Donations
Music department 25,000 6,326 31,326
Prizes and Awards
A. Hitchens
—Memorial		 2,549 5 20 2,534
Guy Valadon
—Single Science		 1,247 2 20 1,229
J Hobbs- Memorial 1,309 3 20 1,292
John Crook 1,090 2 20 1,072
John Lewis —History 176 0 20 156
Ken Russell
—Trophy		 171 0 20 151
Neil Jones —Memorial Fund 139 0 20 119
Norma Cook —Senior Latin 240 0 20 220
Peacock —Latin 532 1 0 533
Peter Groves —Chemistry 555 1 0 556
Wendy Simmons —MFL 456 1 20 437
Bahadur Sunderji —Further Maths 180 0 20 160
Crosby
—Maths Prize		 426 1 20 407
Vale rie Brooking
—History Prize		 35 0 20 15
Oliver Griffin
—Government		 and Politics 0 200 20 180
Total Prizes and Awards 9,105 218 260 9,063
Total Restricted
Funds		 105,191 6,683 260 111,615

f
Unrestricted
Funds as at 31August 2020		 7,459,803
Allocated
and ring-fenced
for Designated
Funds
Work delayed
by Covid-19 and rescheduled		 323,097
New classroom
and learning
resource development		 2,500,000
Dining capacity increase
and Theatre refurbishment		 2,500,000
Total allocated and ring-fenced for Designated
Funds		 5,323,097
Reserves required to comply with 3month trading as per the Charities Commission Guidance 1,258,000

d ICT Motor Unrestricted Restricted Total
~gd Buildio
s		 Furniture Vehicles Foods Foods Foods
COST/VALUATION
At 01/09/2019 13,493,539 668,712 444,010 14,394 14,620,655 25,017 14,645,672
Additions 0 56,698 24,279 0 80,978 5,135 86,113
Disposals 0 (2,201) (2,626) (14,394) (19,222) 0 (19,222)
Revaluation
At 31/08/2020 13,493,539 723,209 465,663 0 14,682,411 30,152 14,712,563
DEPRECIATION
At 01/09/2019 514,956 365,769 197,494 14,194 1,092,413 0 1,092,413
Charge for the year 286,236 68,122 93,205 0 447,562 8,040 455,603
Elimination
oo disposal		 0 (2,201) (2,438) (14,194) (18,834) 0 (18,834)
Revaluation
adjustment
At 31/08/2020 801,192 431,690 288,260 0 1,521,142 8,040 1,529,182
NET BOOK VALUE
At 31/08/2020 12,692,347 291,519 177,403 0 13,161,269 22,112 13,183,381
12692 347 291519 177,403 0 13,161,269 22,112 13,183,381
At 31/08/2019 12,978,583 302,943 246,516 200 13,528,242 25,017 13,553,259
12,978,583 302,943 246,516 200 13,528,242 25,017 13,553,259

2020 2019
f f
Fees Receivable 90,408 168,276
Bad Debt Provision (70,803) (123,514)
Prepayments/Accrued Income 159,624 143,005
179,229 187,766

2020 2019
f f
Deferred
Income		 174,376 217,196
Accrued Expenses 143,349 125,426
Trade Creditors 90,594 376,584
Taxation and Social Security 0 76,594
Other Creditors 637,863 549,093
Bank Io an (Note Sg) 231,133 231,133
1,277,315 1,576,026

2020 2019
f f
Balance as at 1 September 2019 217,196 334,301
Amount released to income from charitable activities (217,196) (334,301)
Amount deferred in year 174,376 217,196
Balance as at 31 August 2019 174,376 217,196

2020 2019
E E
Other Creditors 32,743 101,343
Bank loan (Note Sg) 2,542,467 2,773,600
2 575,210 2,874,943

2020 2019
E f
Bank loan payable (falling due within one year) 231,133 231,133
Bank loan payable
less than 5years)		 (falling due in more than one year but 924,532 924,532
Bank loan payable (falling due in more than 5years) 1,617,935 1,849,068
Total 2,773,600 3,004,733

Unrestricted Unrestricted Restricted Endowment 2020 2019
Funds: Fulids; Funds Funds
Profitand
loss		 Revaluation Total Total
fund Reserve
E E
Balance at 1 Sept 2018 6,806,581 4,959,858 111,615 98,984 11,977,038 11,206,174
Net Movements in year 575,052 339 147 575,538 770,863
Transfer in the year 103,330 (103,330) 0 0 0 0
Revaluation
Adjustment
Balance at 31' Aug 2019 7,484,963 4,856,528 111,955 99,131 12,552,576 11,9T/,037

Unrestricted Unrestricted Restricted Endowment 2019 2018
Funds: Funds: Funds Funds
Profit and loss Revaluation
Total Total
fund Reserve
6 E
Balance at 1 Sept 2018 5,938,991 5,063,188 105,191 98,804 11,206,174 10,677,970
Net Movements in year 764,260 6,423 180 770,863 528,204
7ransfer in the year 103,330 (103,330) 0 0 0 0
Revaluation
Adjustment
Balance at 31 Aug 2019 6,806,581 4,959,858 111,615 98,984 11,977,037 11,206,174

6.a. Reconcil ia tion
ofnet mo		 vement
in fun		 ds to net cash from o perating
ac		 tivities
Unrestricted Restricted Endowment 2020 2019
Funds Funds Fund
s s t s r
Net mcome/(expenditure) 575,052 339 147 575,538 770,863
Adrusrments/or.
Depreciation
Charges		 447,563 8,040 0 455,603 364,973
Net interest
adjustment		 89,760 (121) (147) 89,492 101,118
Loss/(profit)
on the sate offixed assets		 388 0 0 388 0
Increase in finance lease assets 0 0 0 0 (94,464)
(Increase)/Decrease in debtors 8,537 0 0 8,537 (52,468)
Increase/(Decrease) in creditors (299,049) 0 0 (299,049) 332,347
Net cash provided
activities		 by (used in) operating 822,251 8,258 830,509 1,422,369

6.b .Analysis ofcash and cash equivalents
Unrestricted Restricted Endowment 2020 2019
Fuli de Funds Fund
s c E c s
Cash in hand 2,853,519 89,842 99,131 3,042,492 2,686,983
iotal cash and cash equivalents 2,853519 99,131 3,042492 2,686,983

6.c.Analysis of change
in net		 (debt)/funds
Net Cash at 01/09/2019 Cashf low at 31/08/2020
Cash at bank and in hand
Unrestricted 2,501,401 352,118 2,853,519
Restricted 86,598 3,244 89,842
Endowment 98,984 147 99,131
2,686,983 355,509 3,042,492
Debt
Debt falling due within one year Unrestricted (292,975) 6,758 (299,733)
Debt falling due after one year Unrestricted (2,874,943) (299,733) (2,575,210)
3,167,918 (292,975) 2,874,943
Total (480,935) 62,534 167,549

2020 2019
E
Within one year 38,741 45,394
Between one and five years 1,889 16,140
More than five years 0 0
Total Operating Leases 40,630 61,534

2020 2019
6 E
Within one year 77,807 81,443
Between one and five years 34,656 112,464
More than five years 0 0
112,464 193,907
Less finance charges 11,121 30,722
101,343 163,185