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|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|
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|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.|||||
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|||||||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|
##
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|||||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||
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|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|
##
##