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2023-08-31-accounts

Contents
Legal and administrative
details		 3
Governors'
Report.		 5
Vision, Mission Statement,
Aims and Key Activities.		 5
Governance
and Management.		 7
Statement ofGovernors'
Responsibilities.		 9
Strategic Report .10
Independent
Auditor's
Report to the members of Halliford		 School Limited ... ....18
Statement of Financial Activities. 22
Balance Sheet. 23
Statement ofCash flows. 24
Notes to the Financial Statements. 25

GCSE 20,19. 2020 2021 2022. 2023
Candidates 73 73 75 75
%Pass Grades 9-4 (A*-C) 95 99 97 97 95

A Level . 2020 2021 2022 2023
Candidates 37 49 43
j
%Pass (Grades A*-B) 46 66 85 60 55
%Pass (Grades A*-E) 99 100 100 100 99.5

Risks for an independent
school		 independent
school		 independent
school		 Mitigation
Reputational Damage As a consequence
ofany issue there is a risk
of
reputational
damage.
The
School
maintains
effective
policies to identify
and
minimise
any risks.
Changes to the political landscape which will Governors
are
controlling
costs
where
affect the School
financially,		 strategically, possible
and
tightly
controlling
any future
and operationally
including		 potential loss of capital
spend.
They
are
continuing
to
the benefits through
charitable		 status. monitor
possible
challenges
around
TPS
contribution
increases,
loss
of
Business
Rates Relief and VAT on school fees as well
as
Debt
Servicing
charges
within
the
cashflow.
Ability to maintain
a level ofsurplus funds to
cover
the
possible
cash
flow
shortage,
increased
depreciation
costs and bank loan
repayments.
Recruitment and retentions of high-quality Competitive
salary
and
benefits
package
teaching
and support staff.		 including
school fee remission.
Labour market
remains
tight and		 therefore Continue
to benchmark
competitors
using
theattractionofnewpersonnelhas become eternal
pay
reviews
conducted
by
ISBA,
difficult. Reliance on supply agencies. AGBIS &Baines Cutler surveys.
Inability to attract support staff in all areas Opportunity
to offer all staff alternative
DC
particularly domestic roles. pension options whilst maintaining
accessto
TPSfor new and existing academic staff.
TPS contribution
increase		 to 28.68% and
further
revaluations
due		 in the coming
years.
Maintaining or improving
student		 Focus on the
USP of the School, resource,
recruitment in both Senior School and Sixth and market effectively.
Form.
Arising
principally
from		 recession / recession / recession / recession / Increase
offering to students
in music,		 art,
economic changes; parental employment, drama
and sport.
affordability
and the strong		 competition
from local Independent and State Schools. Increase
co-curricular
offering		 with
additional
external
providers
before		 and
Potential
lag
on
pupil		 numbers due to after school.
parental
perceptions
on		 affordability of an
independent
education.
Parental
confidence
reduced		 in investment
into independent
education.
Pupil Admissions
in Sixth		 Form including girls Improve the retention ofinternalcandidates
joining at 16years. by offering earlier/
more scholarships.
Increase
lecture
programme
and
careers
events.
Improve
and expand
current
Open
Evening
offering
and
creation
of new
Sixth
Form
events for new applicants.
Failure
to
comply
with		 legislation in The School has policies
and procedures		 to
particular
Safeguarding,		 Health
and		 Safety reduce
the
risk
and
maintain
compliance
and Employment
laws.		 and includes termly Governor overview.
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.

2022/23 2021/22
Unrestricted
Unrestricted Restricted Endowment
Revaluation Total Funds Total Funds
Funds Funds Funds
Reserve
f f f f
Notes
Income and Endowments from
Donations
&Legacies		 3a 13,107 0 0 13,107 6,094
Investment
Income		 3b 84,931 608 907 86,446 3,517
Incoming from charitable
activities		 3c 9,491,776 0 9,491,776 9,018,602
Total Incoming Resources 9,589,814 907 9,591,329 9,028,212
Ex enditure
on Charitable
Activities
School Services 3d 4,905,813 215 0 4,906,028 4,810,831
Support Costs 3e 3,364,946 1,475 0 3,366,421 3,118,040
Bursaries and Scholarships 3c 540,151 0 0 540,151 527,709
Total Resources Expended 8,810,910 1,690 0 8,812,600 8,456,580
Net Income(expenditure) and
net movement
in funds for		 778,904 0 (1,082) 778,729 571,631
the year
Transfer between funds 92,340 (92,340)
Gains/(losses)
on revaluation
offixed assets		 0 (1,493,803)
Net Movement
in Funds		 871,244 (92,340) (1,082) 907 778,729 (922,172)
Total Funds brought forward 10,092,481 2,245,497 84,969 100,930 12,523,877 13,446,049
Fund Balances at31August 23 10,963,725 2,153,157 83,887 101,837 13,302,606 12,523,877

2022/23 2022/23 2021/22
Unrestricted Restricted Endowment
Total Total
Funds Funds Funds
f f f
Notes
Fixed Assets
Tangible Assets 5a-b 13,831,468 2,506 0 13,833,974 14,108,045
13,831,468 2,506 0 13,833,974 14,108,045
Current Assets
Stocks Sc 106,663 0 0 106,663 88,213
Debtors Sd 260,319 0 0 260,319 194,857
Cash at bank and in hand 4,422,374 81,381 101,837 4,605,593 3,844,961
4,789,357 81,381 101,837 4,972,575 4,128,031
Liabilities
Creditors: amounts
within one year		 falling due 5e (1,696,543) 0 0 (1,696,543) (1,516,999)
Net Current assets 3,092,814 81,381 101,837 3,276,033 2,611,032
Total assets less current liabilities 16,924,282 83,887 101,837 17,110,007 16,719,077
Creditors: amounts
after more than one		 falling due
year		 5g (3,807,400) 0 0 (3,807,400) (4,195,200)
Total Net Assets 13,116,882 83,887 101,837 13,302,606 12,523,877
Profit and Loss Fund 10,963,725 83,887 101,837 11,149,449 10,278,380
Revaluation Reserve 2,153,157 0 0 2,153,157 2,245,497
Funds 5i 13,116,882 83,887 101,837 13,302,606 12,523,877

2022/2023 2022/2023 2021/2022
Unrestricted Restricted Endowment
All Funds
Funds Funds Fund
Cash flows from operating activities:
Net cash provided by (used in) operating activities 6a 1,559,731 (215) (0) 1,559,515 1,592,967
Cash flows from investing activities:
Proceeds from the sale of property, plant and 0 0
equipment
Purchase of property,
plant and equipment		 (280,949) 0 0 (280,949) (1,592,279)
Interest received &4,931 608 907 86,446 3,517
Net cash provided by (used in) investing activities (196,01$) 907 (194,503) (1,588,763)
Cash flows from financing activities:
Repayments
of borrowing		 (Bank loan) (387,800) 0 (387,800) (302,337)
Cash inflaws from new borrowing (0) 0 (0) 918,792
Interest paid (216,582) 0 (216,582) (133,119)
Net cash provided by (used in) financing activities (604,382) 0 (604,382) 483,336
Change
in cash and		 cash equivalents in the reporting 759,331 393 907 760,631 487,540
period
Cash and cash equivalents
reporting
period		 atthe beginning ofthe 3,663,043 80,988 100,930 3,844,961 3,357,422
Cash and cash equivalents
reporting
period		 atthe end ofthe 6b 4,422,374 81,381 101,837 4,605,593 3,844,961

Freehold buildings 50years
Additional building costs 15years
Plant and machinery 5 —10years, plus a piano depreciated over 20years
IT(user interface) 3years
IT(Servers etc) 5years
Vehicles 4years

2021/22 2020/21
Unrestricted Unrestricted
Revaluation		 Restricted Endowment Total Funds TotalFunds
Funds Funds Funds
Reserve
E f
Notes
Income and Endowments fro
Donations
IELegacies		 3a 2,678 0 3,416 6,094 4,408
Investment
Income		 3b 3,427 44 46 3,517 444
Incoming from charitable
activities		 3c 9,017,846 0 756 9,018,602 8,138,319
Total Incoming Resources 9,023,950 44 4,217 9,028,212 8,143,171
Ex enditure
on Charitable
~Activiti
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
Bursaries and Scholarships 3c 527709 0 0 527,709 623,938
Total Resources Expended 8,444,870 0 9,282 2,428 8,456,580 7,249,698
Net Income(expenditure) and
net movement
ln funds forthe		 579,080 0 (9,238) 1,789 571,631 893,474
year
Transfer between
funds		 (413,320) 413,320
Gains/(losses)
on revaluation
offixed assets		 1,427,217 (2,921,021) (1,493,803)
Net Movement
in Funds		 1,592,978 2,507,701 9,238 1,789 922,172 893,474
Total Funds brought forward 8,499,503 4,753,198 94,207 99,141 13,446,049 12,552,576
Fund Balances at31August 22 10,092,481 2,245,497 84,969 100,930 12,523,877 13,446,050

2023 2022
f E
The School's fee income comprises:
Gross Fees 8,728,927 8,199,008
Less bursaries, scholarships and staff discounts (540,151) (527,709)
8,188,776 7,671,29&
Bursaries 264,000 262,881
Hardship
Fund		 44,311 54,254
Scholarships 94,080 94,122
Staff Discounts 137,760 116,453
Total 540,151 527,709
Other Educational income
Catering 418,660 389,296
Coach Service 228,965 206,703
Rental Income 11,684 10,352
ITEqui p me nt Rece ipts 69,407 189,940
Insurance
Receipts		 248 0
Other income Commission etc 33,886 22,547
Government Grants 0 0
Total 762,&49 81&,83&
Unrestricted Income from Charitable Activities 9,491,776 9,017,&46

2023 2022
f f
Personnel
Costs		 3,941,932 3,754,452
Other Costs 963,881 1,056,164
School Services 4,905,813 4,810,616
Personnel
Costs		 2023 2022
Salaries 2,997,963 2,848,058
Nl 321,746 308,489
Pension Contributions 622,223 597,905
Total 3,941,932 3,754,452
Staff Numbers-
FTE		 2023 2022
Academic Teaching 55 54
Academic Support 13 14
Total
Staff Numbers —Average Number Employed 2023 2022
Full Time 57 57
Part Time 19 18
Total 76 75
Other Costs 2023 2022
Staff Related Costs 14,671 14,170
Departmental
Resources		 320,544 283,941
School Events 9,230 24,884
ITRelated Costs 249,825 376,653
Transport
Related Costs		 355,813 349,249
Pupil Related Costs 13,798 7,267
Total Other Costs 963,881 1,056,164

ort Costs
2023 2022
E f
Pe rsonne I Costs 957,521 907,943
Other Costs 2,408,900 2,210,097
Total School Service Costs 3,366,421 3,118,040
Staff Numbers
- FTE		 2023 2022
Domestic 10 10
Property 3 3
General 14 13
Total 27 26
Staff Numbers-Average Number Employed 2023 2022
Full Time 16 15
Part Time 15 17
Personnel
Costs -		 Domestic 2023 2022
Salaries 222,760 205,003
Nl 15,148 14,129
Pension Contributions 29,767 30,336
Total Domestic 267,676 249,469
Personnel
Costs —General		 2023 2022
Salaries 417,271 392,070
Nl 41,879 40,387
Pension Contributions 66,968 63,363
Total Admi n 526,118 495,820
Personnel
Costs -		 Property 2023 2022
Salaries 131,824 132,420
Nl 12,115 11,508
Pension Contributions 19,787 18,727
Total Property 163,726 162,655
Total Personne
I Costs		 957,521 907,943
Other Costs 2023 2022
Catering Costs 210,858 211,549
Grounds
and Property		 Maintenance 759,568 656,560
Property Supplies and Equipment 145,718 166,832
Admin Resources, Equipment and Marketing 249,901 255,871
Service Costs 424,168 224,539
Staffing and Recruitment Costs 42,067 43,735
Depreciation 555,020 628,037
Auditors
remuneration:
Statutory
audit		 21,600 22,974
Assurance
services other than		 audit 0 0
Other financial services 0 0
Total Other Costs 2,408,900 2,210,097

Balance at Incoming Resources Balance at
31Aug 22 Resources Expended 31Aug 23
Endowment
Funds
Endowment
Funds		 100,930 907 0 101,837
Total Endowment
Funds		 100,930 907 0 101,837
Bursary and Scholarships
A.J.Vincent 71,374 552 71,926
Hardship
Bursary Fund
Fee donations
Restricted
Donations
Music department 5,151 1,475 3,676
Prizes and Awards
A. Hitchens
- Memorial		 2,479 17 20 2,476
Guy Valadon
—Single Science		 1,189 8 15 1,182
J Hobbs - Memorial 1,254 8 20 1,243
John Crook 1,014 7 20 1,001
John Lewis —History 97 1 20 77
Ken Russell - Trophy 102 1 15 87
Neil Jones —Memorial Fund 100 1 0 100
Norma Cook —Senior Latin 171 1 15 157
Peacock —Latin 534 4 0 538
Peter Groves —Chemistry 557 4 0 561
Wendy Simmons —MFL 398 3 20 380
Bahadur Sunderji —Further Maths 101 1 20 81
Crosby - Maths Prize 358 2 15 345
Valerie Brooking - History Prize (30) (0) 15 (45)
Oliver Griffin - Government and Politics 121 1 20 101
Total Prizes and Awards 8,444 57 215 8,286
Total Restricted Funds &4,969 1,690 83,887

Balance at Incoming Resources Balance at
31Aug 21 Resources Expended 31Aug 22
Endowment
Funds
Endowment
Funds		 99,141 4,217 2,428 100,930
Total Endowment
Funds		 99,141 4,217 2,428 100,930
Bursary and Scholarships
A.J.Vincent 71,341 34 71,374
Hardship
Bursary Fund
Fee donations
Restricted Donations
Music department 14,218 9,067 5,151
Prizes and Awards
A. Hitchens - Memorial 2,498 1 20 2,479
Guy Valadon
-Single Science		 1,197 7 15 1,189
J Hobbs - Memorial 1,274 1 20 1,254
John Crook 1,034 0 20 1,014
John Lewis —History 117 0 20 97
Ken Russell - Trophy 117 0 15 102
Neil Jones —Memorial Fund 99 0 0 100
Norma Cook —Senior Latin 186 0 15 171
Peacock —Latin 534 0 0 534
Peter Groves —Chemistry 557 0 0 557
Wendy Simmons —MFL 418 0 20 398
Bahadur Sunderji —Further Maths 121 0 20 101
Crosby - Maths Prize 372 0 15 358
Valerie Brooking - History Prize (15) (0) 15 (30)
Oliver Griffin - Government and Politics 141 0 20 121
Total Prizes and Awards 8,648 215 8,444
Total Restricted
Funds		 94,207 9,282 &4,969

||||Freehold
land||~EI|m &|\CT|~ust
|~Rn|t
d|Total| |---|---|---|---|---|---|---|---|---|---|---|---| ||||~&Bull
~l||Furniture|||~Fu ds|Funds||Funds| |||Assets In Use|Assets under|Total|||||||| ||||Construction||||||||| |COST/VALUATION|||||||||||| |At 01/09/2022||13,224,464|175,536|13,400,000||1,197,807|554,099|15,151,905||30,152|15,182,057| |Additions||14,118|216,753|230,872||16,062|34,016|280,949||0|280,949| |Disposals||0|0.00|0||0|0|0||0|0| |Reclassificatlon|ofAssets|239,230|(268,891)|(29,662)||29,662|0|0||0|0| |Revaluation||0|0|0||0|0|0||0|0| |At 3V08/2023||13,477,812|123,398|13,601,210||1,243,530|588,115|15,432,854||30,152|15,463,006| |DEPRECIATION|||||||||||| |At 01/09/2022||(0)|0|(0)||672,257|375,579|1,047,836||26,175|1,074,011| |Charge forthe|year|286,999|0|286,999||174,408|92,139|553,545||1,475|555,020| |Elimination
on|disposal|0|0|0||0|0|0||0|0| |Revaluation
Adjustment||0|0|0||0|0|0||0|0| |At 31/08/2023||286,999|0|286,999||846,665|467,718|1,601,381||27,650|1,629,032| |NET BOOK VALUE|||||||||||| |At 31/08/2023||13,190,813|123,398|13,314,211||396,865|120,396|13,831,473||2,502|13,833,975| |||13,190,813|123,398|13314211||396865|120396|13,831,473||2502|13833975| |At 31/08/2022||13,224,464|175,536|13,400,000||525,550|178,520|14,104,068||3,977|14,108,045| |||13,224,464|175,536|13,400,000||525,550|178,520|14,104,069||3,977|14,108,045|

2023 2022
f f
Aggregate Historic Cost 11,475,226 11,274,016
Aggregate accumulated depreciation 2,823,016 2,596,271
Aggregate carrying amount 8,652,210 8,677,745

2023 2022
f f
ITDevices 106,663 88,213
106,663 88,213

2023 2022
f f
Fees Receivable 25,228 14,240
Bad Debt Provision (11,393) (12,106)
Prepayments/Accrued Income 246,484 192,723
260,319 194,857
Creditors - Amounts falling due within one year
2023 2022
f f
Deferred Income 334,144 245,927
Accrued Expenses 132,274 173,347
Trade Creditors 249,724 146,441
Taxation and Social Security 0 0
Other Creditors 592,601 563,483
Bank loan (Note 5h) 387,800 387,800
1,696,543 1,516,999

2023 2022
f E
Balance as at 1 September 2022 245,927 189,961
Amount released to income from charitable activities (245,927) (189,961)
Amount deferred in year 262,373 245,927
Balance as at 31 August 2023 262,373 245,927

2023 2022
E E
Other Creditors (0) (o)
Bank loan (Note 5h) 3,807,400 4,195,200
3,807,400 4,195,200

2023 2022
E f
Bank loan payable (falling due within one year) 387,800 387,800
Bank loan payable
less than 5years)		 (falling due in more than one year but 1,551,200 1,551,200
Bank loan payable (falling due in more than 5years) 2,256,200 2,644,001
Total 4,195,200 4,583,000

Unrestricted Unrestricted Restricted Endowment
Funds: Funds: Funds Funds
Profit and loss Revaluation Total Total
fund Reserve
E E
Balance at 1stSept 2022 10,092,481 2,245,497 84,969 100,930 12,523,877 13,446,049
Net Movements in year 778,904 0 (1,082) 907 778,729 571,631
Transfer in the year 92,340 (92,340) 0 0 0 0
Gains/(losses) on revaluation offixed assets 0 0 0 0 0 (1,493,803)
Balance at 31st Aug 2023 10,963,724 2,153,157 83,887 101,837 13,302,606 12,523,877

Unrestricted Unrestricted Restricted Endowment 2021
Funds: Funds: Funds Funds
Profit and loss Revaluation Total Total
fund Reserve
E E
Balance at 1stSept 2021 8,499,503 4,753,198 94,207 99,141 13,446,049 12,552,576
Net Movements in year 579,080 0 (9,238) 1,789 571,631 893,473
Transfer in the year (413,320) 413,320 0 0 0 0
Gains/(losses) on revaluation offixed assets 1,427,217 (2,921,021 0 0 (1,493,803 0
Balance at 31st Aug 2022 10,092,481 2,245,497 84,969 100,930 12,523,877 13,446,049

Unrestricted Restricted Endowment 2023 2022
Funds Funds Fund
f f E E
Net income/(expenditure) 778,904 (1,082) 907 778,729 571,631
Adjustments
for:
Depreciation
Charges		 553,545 1,475 0 555,020 628,039
Net Interest adjustment 131,651 (608) (907) 130,135 129,602
Lost/(profit)
on the sale offixed assets		 0 0 0 0 2,186
Increase in finance lease assets 0 0 0 0 0
(Increase)/Decrease in stocks (18,450) 0 0 (18,450) 125,890
(Increase)/Decrease in debtors (65,462) 0 0 (65,462) (87,005)
Increase/(Decrease) in creditors 179,544 0 0 179,544 222,623
Net cash provided
activities		 by (used in) operating 1,559,731 (215) (0) 1,559,515 1,592,967

6.b .Analysis ofcash and ca sh equivalents
Unrestricted Restricted Endowment
Funds Funds Fund
Cash in hand 4,422,374 81,381 101,837 4,605,593 3,844,961
Total cash and cash equivalents 4,422,374 81,381 101,837 4,605,593 3,844,961

Net Cash at 01/09/2022 Cashflow at 31/08/2023
Cash at bank and in hand
Unrestricted 3,663,043 759,331 4,422,374
Restricted 80,988 393 81,381
Endowment 100,930 907 101,837
3844,961 760,632 4,605,593
Debt
Debt falling due within one year Unrestricted (387,800) 0 (387,800)
Debt falling due after one year Unrestricted (4,195,200) 387,800 (3,807,400)
(4,583,000) 387,800 (4,195,200)
Total (738,039 1,148,432 410,393

2023 2022
Within one year 30,668 41,180
Between one and five years 6,670 39,013
More than five years 0 953
Total Operating
Leases		 37,338 81,146