OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-08-31-accounts

Contents
Legal and administrative details ... 3
Governors'
Report.		 5
Vision, Mission Statement,
Aims and Key Activities.		 5
GOVernance
and IVIanagement		 7
Statement ofGovernors'
Responsibilities. ............„.„.„,...,...,.„„„„		 9
Strategic Report 10
Independent
Auditor's		 Report to the members of Halliford School Limited ... .....20
Statement of Financial Activities. . „„,24
Balance Sheet..... . 25
Statement ofCash flows .. .....26
Notes to the Financial Statements. 27

' GCSE 20192020202112022 20192020202112022 20192020202112022 20192020202112022 20192020202112022 20192020202112022
Candidates 73 ' 73 75 70
c
9S Pass Grades 9-4(A'-C) 95 95 99 97 i 97

A Level 2018 2019 ' 2020 I 2021 ' 2022
Candidates 3S ' 33 : 37 49
yL Pass (Grades A'-8) 58 46 , 66 I 85 60
l SSPass (Grades A'-E) 99 l 99 100 j 100 100

Risks for an independent school Mitigation
Operational
cost inflation		 pressure
on		 food Review food suppliers' contracts to ensure
and energy costs. best prices obtained.
Sustainability
Review		 to be undertaken
Current
tight
labour		 market with Competitive
salary		 and benefits package
unemployment
at
its
lowest		 rate and including
school fee remission.
unfilled
vacancies
are at		 the highest rate
presenting
recruitment		 challenges in all Continue to benchmark competitors.
areas ofthe school.
Participation
in
external
pay		 reviews
Inability
to attract
and		 retain personnel, conducted
by
third		 parties
i.e.,		 Baines
which
could
result
in the		 loss of expertise Cutler.
and reliance on expensive agency staff.
TPSoptions reviewed and closely monitored
Skills shortage
and recruitment		 risk for key
roles, in particular
management		 roles. Support
pension
provided		 by Royal London
realigned
which
would		 provide staff with
Inability to attract support staff in all areas higher
wages
and		 lower pension
particularly
domestic roles.		 contributions
which		 will aid recruitment in
support roles.
TPS contribution
risk of rising following		 the
revaluation
in 2024.
Providing counselling and wellbeing services
Decline
in staff physical		 and
mental		 well- to
staff.
Creation		 of a Staff Wellbeing
being, Committee.
Inability/
volatility ofrecruiting		 students to Focus on the
LISP of the		 School, resource
the Lower School. and market effectively.
Arising principally
from recession		 / Continue
to refurbish		 teaching
spaces		 and
economic changes; parenta! employment, increase the provision of ITequipment.
affordability
and the strong competition
from local Independent
and State Schools.		 Conduct Parental
Opinion		 Survey.
Potential
lag
on
pupil		 numbers
due		 to Increase offering to students
in music,		 art,
parental
perceptions
on affordability		 of an drama and sport.
independent
education.
Increase
co-curricular		 offering with
Parental
confidence
reduced
in		 investment additional
external		 providers
before		 and
into independent
education.		 after school.
Pupil Admissions
in Sixth		 Pupil Admissions
in Sixth		 Pupil Admissions
in Sixth		 Pupil Admissions
in Sixth		 Form including Form including Form including Form including Form including Form including girls Improve the retention ofinternal Improve the retention ofinternal candidates candidates
joining at 16years, by offering earlier / more scholarships.
Increase
lecture		 programme and careers
events.
Improve
and		 expand
current		 Opening
Evening
offering		 and creation of new Sixth
Form events for new applicants,
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 schedules
in the		 summer.
during the summer holiday period.
Inability for parents to pay fees on time. Robust fee debt management policies and
procedures
in place. Encouraging		 parents to
use School Fee Plan (SFP)
Global inflation
and interest		 rates increase. Monitor
DSC of		 the loan on the PC Centre
(Variable rate)
Variability ofinformation obtained on future
rate rises makes forecasting difficult
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.
Possible outcome from a General Election in
2024.
Impact of Brexit on food and fuel shortages
or inflation ofpricing.
Projects need to be planned
and		 agreed
in
Increased building costs due to labour and advance to meet suppliers
long		 lead times.
material increases as well as longer lead
times.
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.
Additional
training
for staff in		 information
security and data protection.

Unrestricted Unrestricted Rectrloted Endowment
Funds Revaluation Funds Funds TotalFunds Totalpunds
Rase nre
f 6
Notes
Income and Endowments from
Donations &Iegades Sa 2,678 3,416 6,094 4,4M
Investment
Income		 3b 3,427 3,517 444
Incoming from charitable
activities		 3c 9,017,$46 756 9,D18,6D2 8,138,319
Total Incoming
Resources		 9,023,950 0 44 4,217 9,028,212 8,143,171
Ex enditure
on Chadtable
Activities
School Services 3d 4,810,616 215 0 4,810,831 4,155,222
Support Costs 3e 3,106,545 9,067 2,428 3,118,040 2,470,538
Bursarles and Scholarships 3c 527,709 0 0 527,709 623,93$
Total Resources Expended 8jl44,870 0 9,282 2,428 8,456,5$0 7,249,698
Net Income(expenditure) and
net movement
In funds forthe		 0 (9,23$) 1,7$9 571,631 893,474
Transfer between
funds		 (413,320) 413,320
Gains/(losses)
on revaluation
offixed assets		 1,427,217 (2,921,021) (1,493,$03)
Net Movement
ln Funds		 1,592,978 (2,507,701) (9,238 1,789 922,172 $93,474
Total Funds brought forward 8,499,503 4,753,198 94,207 99,141 13,446,049 12,552,576
Fund Balances at 31August 22 1D,092,481 2,245,497 84,969 100,930 12,523,877 13,446,050

2020/22
Unrestricted Restricted Endowment Total Total
Funds Funds Funds
f f f
Notes
Fixed Assets
Tangible Assets Sa-b 14,104,065 3,981 0 14,1D8,045 14,639,794
14,104,065 3,9S1 0 14,1D8,045 14,639,794
Current Assets
Stocks 5c S8,213 88,213 214,103
Debtors Sd 194,857 194,857 107,852
Cash at bank and in hand 3,663,043 80,988 100,930 3,844,961 3,357,422
3,946,113 80,988 100,930 4,128,031 3,679,377
uabilitles
Creditors: amounts
within one year		 falling due Se (1,516,999( 0 D (1,516,999i (l,l37,709]
Net Current assets 2,429,114 80,988 100,930 2,611,032 2,541,668
Total assets less current Rabilltles 16,533,179 84,969 100,930 16,719,077 17,181,462
Creditors: amounts
after more than one		 falling
year		 due Sg (4,195,200i 0 0 (4,195,200( (3,735,412}
Total lect Assets 12,337,97884,969 100,930 12,523,877 13,446,050
Profit and Loss Fund 10,092,481 84,969 100,930 10,278,38D 8,692,852
Revaluation
Reserve
Funds		 Si 2,245,497
0
12,337,97884,969		 0
100,930		 2,245,497
12,523,877		 4,753,198
13,446,050

2021/802 2021/802
llnrestrlrled Funds gestrlcted funds Endowment Fvnd Pg Funds
Cash f love fram operating activist est
Netcashpruvidetlby(usedlrt)operatlngactivlties da 1,591.439 (215) 1.743 1.592,987 1,202,743
Cash flows Irom investing adivlti
est
Proceeds from the sale of property, plant and
equipment
Purchaseol
properly, plantand
equipment		 (1,592,279) 0 0 (1,592,279) (1,935,035)
tnte rest received 3,427 44 48 3517 444
NeIcash provided
by (used In) investing		 mtlvl ties (Wgattgsa) (1gtd(783) (4938592)
Cmh flovo from flnandng acdvltlcsr
ge payments
of borrowing		 (gant loan and finance (3D2,337) (302.337) l299.734)
lease)
Cash inflaws from new bonowing 918,792 918,792 1,424,079
interest paid 133,119 0 0
Natcashprovldedby(usedln)
flnandngadhrltias		 0 0 4883Ã 1,04((779
Change In cash and cash equlvalenmln the 485,922 (171) 1,7!e 314,931
repnrtlnr
period
cash and cash equlvalenn atthe beglnnln8 of the 3.177.121 99,141 3,357,412 3,0t2,493
repnning
period
Cash and cash equlvalentsattheendof
mpurting
period		 the Q,dta,g(3

Freehold buildings 50years
Additional building costs 25years
Plant and machinery 5 —10years, plus a piano depreciated over 20years
IT(user interface) 3years
IT(Servers etc) 5 years
Vehicles 4years

Com aratives to SOFA f rom
rio		 r
ear
2020/21
Unrestricted
Funds		 Unrestdcted
Revaluation		 Restricted
Funds		 Endowment
Funds		 Tatal Funds Totalpunds
Resewe
E
Notes
Income and Endowmentsfrom
Donations 6Legacies 3a 4,4te 4.408 8.493
Investment
income		 3b 426 10 444 8,718
Incoming from charitable
activities		 8.138.319 8,138,319 7,2E0,412
Tatal Incoming Resaunas 0 8 10 8,143,171 7,277,623
Activities
5chaol Services 3d 4,155,027 195 4,155,222 3,81!.581
Suppart Casts 3a 2,461,471 9,067 2,470,538 2,341,125
eursaries and Scholarshlps 3c 615,446 8,493 623.938 549,379
Total Resources Expended 0 11,750 0 7,249,698 6,702,085
Netlncame(expenditure)and
net maveme nt ln funds forthe 911,21D 0 (17,747) 10 893374 575,538
Transfer between funds
Gains/(losses)
on revaivation
offixed assets		 103,33D !103,330) 0 0
Net Mavement
in Funds		 CD14.540 103,330 17,74 10 893,474
Total Funds broughtforward 7,464,963 4,856,528 111,954 99,131 12,552,576 11,977,038
Fund Balances at 31Avgust 21 gr499,503 4,753,198 94,207 99,141 23~,050 12,552,576

2021
E
The School's fee income comprises:
Gross Fees 8,199,008 7,591,657
Less bursaries, scholarships and staff discounts (527,709) (615,446)
7,671,298 6,976,211
Bursaries 262,881 281,109
Hardship
Fund		 54,254 144,215
Scholarships 94,122 89,093
Staff Discounts 116,453 101,029
Total 527,709 615,446
Other Educational Income
Catering 389,296 301,205
Coarh Service 206,703 153,079
Rental Income 10,352 5,506
ITEquipment Receipts 189,940 40,300
Insurance
Receipts		 0 0
Other Income Commission etc 22,547 6,504
Government Grants 0 40,068
Total 818,838 546,662
Unrestricted Income from Charitable Activities 9,017,&46 8,138,319

2022 2021
E E
Personnel
Casts		 3,754,452 3,432,087
Other Costs 1,056,164 722,939
SchoolServices 4,810,616 4,155,027
Personnel Costs 2022 2021
Salaries 2,848,058 2,600,793
Ni 278,489
Pension Contributions 597,905 552,805
Total 3,754,452 3,432,087
Staff Numbers - FTE 2022 2021
Academic Teaching 54 52
Academic Support 9 7
Total 59
Staff Numbers-Average Number Employed 2022 2021
Full1irne 57 47
Part Time 18 20
Total 75 67
Other Costs
Staff Related Costs 14,170 13,571
Departmental
Resources		 283,941 189,599
School Events 24,884 10,468
ITRelated Costs 376,653 209,264
Transport Belated Costs 349,249 285,657
Pupil Related Costs 7,267 14,576
Total Other Costs 1,056,164 723,134
The following
number
of employees
received b		 enefits totalling between:
2021
E60,000and f70,000 2
E70,001and E80,000 2
f80,001and E90,000
E90.001snd f100,000
E100,001and f110,000
f110,001and f130,000

e. Support Cost s
2022 2021
E E
Personnel
Costs		 907,943 809,144
Other Costs 2,210,097 1,661,394
Total School Service Costs 3,118,0so 2,470,538
Staff Numbers
—FTE		 2022 2021
Domestic 10 10
Property 3 2
General 13 Il
Total 26
Staff Numbers-Average Number Employed 2022 2021
Full Time IS 15
Part Time 17 16
32
Personnel
Costs-		 Domestic 2021
Salaries 205,003 241,929
Nl 14,129 14,227
Pension Contributians 30,336
Total Domestic 249r469 290,020
Personnel Casts-General 2021
Salaries 392,070
Nl 40,387 34,439
Pension Contdibutions 63.363 53,618
Total Admln 495,820
Personnel
Costs -		 Property 2021
Salaries 132,420 69,726
Nl 11,508 6,625
Pension Contdibutions 18,727 IO.DSI
Total Property
Tatal Personnel
Costs		 809,144
Other Costs 2021
Catering Costs 211,549 144,447
Graunds and Property Maintenance 656,560 436,449
Property supplies and Equipment 166,832 153,577
Adrnin Resources, Equipment and Marketing 255,871 IS7,437
Service Costs 224,539 220,112
Staffing and Recruitment Casts 43,735 29,246
Depreciation 62S,037 472,515
Auditors remuneration:
Statutory audit 22.974 17,610
Assurance
services other		 than audit 0 0
Other financial services 0 0
Total Other Costs 2,210,097 1,661,394

a.
Current Year M		 ove ment
Endow		 ment
and		 Restricted
F		 unds
Balance at incoming Resauraes Balance at
31Aug 21 Resources Expended 31Aug 22
Endowmentpunds
Endowment
Funds		 99,141 4,217 2,428 100,930
TotalEndowmentfunds 4,217 2,428 108,930
Bursary and Schalarshlps
A.J.Vincent 71,341 71,374
Hardship
Bursary Fund
Fee donations
Restricted
Donations
Ivfusicdepartment 14,218 9,067 5,151
Prizes and Awards
A. Hitchens - Memorial 2,498 20 2,479
Guy Va ladon - Single Science 1,197 15 1,189
J Hobbs - Memodal 1,274 20 1,254
John Cmok 1,034 20 1,014
John Lewis —History 117 20 97
Ken Russell - Trophy 117 1S 102
Neil Jones-Memorial Fund 99 0 100
Norma Cook —Senior latin 186 171
Peacock —latin 534 0 534
Peter Groves-Chemistry 557 0 557
Wendy Simmans —MFL 418 398
Bahadur
S unde rji —Further		 Maths 121 20 101
Crasby
-Maths Pdze		 372 15 358
Vale rie 9roeking - History Prize -15 J5 -30
Oliver Griffin-Gavernment and Politics 141 20 121
Total Pdz as and Awards 11 215 8,444
Tatal Restricted Funds

Balance at Incoming Resources Balance at
31Aug 20 Resources Expended 31Aug 21
Endowment
Funds
Endowment
Funds		 99,131 10 0 99,141
Total Endowment
Funds		 10 0 99,141
Bursary and Scholarships
A.J.Vincent 71,334 71,341
Hardship
Bursary Fund
Fee donations 8,494 8,493
Restricted Donations
Musicdepartment 23,285 9,067 14,21$
Prizes and Awards
A. Hitchens-
Memad el		 2,518 20 2,498
Guy Valadon -Single Science 1,211 15 1,197
J Hobbs- Memorial 1,294 20 1,274
John Crook 1,054 20 1,034
John Lewis —History 137 20 117
Ken Russell - Trophy 132 15 117
Neil Jones-Memorial Fund 99 0 99
Norma Cook —Senior Latin 201 15 186
Peacock-Latin S34 0 534
Peter Graves —Chemistry 557 0 557
Wendy Simmons-
MFL		 418 0 418
Bahadur Sunderji- Further Math 141 20 121
Crosby- Maths Prize 387 15 372
Valede Brooking- History Prize 0 15 -15
Oliver Griffin - Government and Politics 161 20 141
Total Prizes and Awards 8,$41 1 195 $,648
Total Restricted Funds 111,9S4 8 17,755 94,207

a.
Fixed		 Assets
Fmehold land ~ul n e ICt unrestrleted eeslrlaed Total
Esmttm ~sa ~F ~Fn
Assets strider Total
Conslrnccon
cosrnrntunuoa
Atol/09/2021 13,537,239 1.696.066 Do,les 482419 16.485.$I9 30,152 h1516011
Addltlons 1,121,3er 175,536 247,632 47,757 1,592,1S4 1,592,284
Olsposals (5,228) (5,228) (5.228)
nedassifltatlon ol Astets 1,486,886 (1.696,066) (209,190) (0) (0)
Seve Isation (2,921021) 2.921.021 (2.92LD21) (2.921,021)
4I3I/08/2022 13,224,464 D5,536 13,4M,CM 1.197.807 554,099 15,151,9C6 91152 15,282,%7
ceacclnttoe
At OV09/2021 1,089.878 1,D89,878 510,(88 259,207 2,859,123 17,100 1,876,231
Charge forthe year 337 338 337,338 162.119 119,414 618,970 9,067 62ILIBT
EDmln au on on disposal (3.042l (3.042) (3,042)
Sevalnation
Ad(ustment		 1,427,215 l1,427,215 (1,427,215) (1,427,215)
At 31/M/2022 (0) 0 (0) 67!,157 375.579 1,047,K!6 26,D5 1,074,011
NET BOOS YAM E
At 3V08/2022 13224464 D5,536 13,4MOIXI 525550 17S,52D 14,104,068 3.977 14,1QL045
17 556 13
000
Al3Voylou 21,447,361 1.696.026 14,143.428 2%,107 D3,212 14.626,747 13,047 14,639,794
447361 1,696,066 14,143,428 260,107 223 212 14.626,747 13.047 24,639.794

2022 2021
E E
ITDevices 88,213 214,103
88,213 214,103

2022 2021
E f
Fees Receivable 14,240 74,209
Bad Debt Provision (12,106) (69,603)
Prepayments/Accrued Income 192,723 103,247
194,857 107,852
Creditors - Amounts falling due within one year
2021
E E
Deferred Income 245,927 189,961
Accrued Expenses 173,347 126,181
Trade Creditors 146,441 3,701
Taxation and Social Secudity 0 0
Other Creditors 563,483 586,734
Bank loan (Note Sh) 387,800 231,133
1,516,999 1,137,709

2022 2021
E E
Balance asat1 September2021 189,961 174,376
Amount released to income from charitable activities (189,961) (174,376)
Amount deferred in year 245,927 189,961
Balance asat31 August2022 245,927 189,961

2022 2G21
E E
Other Creditors (0) 0
Bank loan (Note 5h) 4,195,200 3,735,412
4,195,200 3,735,412

2022 2011
E f
Bank loan payable (falling due within one year) 387,800 302,337
Bank loan payable
Iessthan 5years)		 (falling due in more than one year but 1,551,200 1,304,288
Bank loan payable (falling due in more than 5years) 2,644,0G1 2,359,920
Total 4,583,000 3,966,545

Vnrestdcted 0nrestd ered Restricted 6ndovrment
Funds
I'		 Funds: Funds Funds
ProRtandloss Revaluation Total Total
fund Ressme
8
Balance at 1stSept 2021 8,499,5D3 4,753,198 94,207 99,141 13,446,049 12,552,576
Net Movements In year 579,080 (9,238) C739 571,631 993,473
Transfer in the year (413,320) 413,320 0 0
Gains/(tosses) on revaluation ofassed assets 1,427,217 (2,921,021) (F493,(RB)
BalanCe at 31st Au82022 10,092,492 2,245897

Un restricts
d		 Un restricts
d		 Un restricts
d		 Unrestricted Restricted andmvmcnt
Fundu Funds: Fvnds Funds
pm(it and lou Revaluadon Tote I Total
fund RcscIvc
8 8
Balance at 1st5ept 2020 7,484,963 4.856.528 111.954 99,131 12,552,576 11,977.033
Net Movements In year 911,210 (17,747) 1D 893,473 575,538
Transfer in the year
RevaluatlOn Ad)uatntent ll8,330 (103,330)
Balance at 31st Au8 2021 11499.503 4.753,198

6.a.Reconcili at ion
ofnet move		 ment
in funds t		 o net cash fram operatin g
activities
Unrestricted Resetcted Endowment
Funds Funds Fund
E E E E E
Net income/(expenditure) 579,0M (9,238) 1,789 571,631 893,473
Adjustments/arr
Depredatian
«barges		 618,972 9,067 D 628,039 472,516
Net Interest adJustment 129,692 (44) (46) 129,602 77,121
loss/(profit)
on the sale offixed assets		 2,186 D D 2,186 6,103
Increase Infinance lease assets 0 D D D 0
(Increase)/Decrease in stocks 125,830 D D 125,89D (214,103)
(Increase)/Decrease in debtors (IP,005) D D (87,005) 71,376
Increase/(Decrease) in creditors 222,623 D D 222,623 (103,74S)
Net cash prcwl
dad
activities		 by (used In) operating 1,591,439 (235) 1,743 1492,967

Unrestricted aestrlcted Endowment Endowment
Funds Funds Fund
E E E E E
«ash In hand 3663043 tot 930 3acs961 3357422
Total cash and cash equivalents 3,844,961 3A57,422
6,cAnalysis ofChange in net itdebt)/funds
Net Cash atOV09/2021 Cashflow at 3V08/2022
Cash at bank and in hand
Unrestricted 3,177,121 485,922 3,663.043
Restricted S1,160 (172)
Endowment 99,141 1,789 100,930
3,357,422 487,539 3,844,961
Debt
Debt falling due within one year Unrestricted (302,337) (85,463) (387,800)
Debt faglng due after ane year Unrestricted (3664 208) 530,992 (4,195,200)
3.966,545 (616,455) (4,583,000)
Total (609,123) (128,916 738,039

2022 2021
within one year 41,180 35,011
Between one and five years 39,013 37,313
More than five years 953 0
Total Operating
Leases		 81,146 72,325

8.Finance Leas es
The total future minimum lease payments under non-cancellable finance leases fall due as follows:
2022 2021
E E
Within one year 0 34,656
Between one and five years 0 0
More than five years 0 0
0 34,656
Less finance charges 1,914
32,743