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|INDEX|Page|
|---|---|
|Legal and Administrative<br>Information|1-2|
|Report ofthe Foundation<br>Trustees|3-12|
|Report ofthe Independent<br>Auditors|13-15|
|Consolidated<br>Statement ofFinancial Activities|16|
|Consolidated<br>and Charity Balance Sheets|17-18|
|Consolidated<br>Statement ofCash Flows|19|
|Statement ofAccounting<br>Policies|20-23|
|Notes to the Financial<br>Statements|24-39|





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|Bankers:||Bank ofScotland||
|---|---|---|---|
|||38 Threadneedle|Street|
|||London EC2P 2HL||
|Auditors:||Alliotts LLP||
|||Friary Court||
|||13-21High Street||
|||Guild ford||
|||Surrey GU1 3DL||
|Investment|Managers:|Quilter Cheviot||
|||Senator House||
|||35 Queen Victoria Street||
|||London EC4V 4AB||
|Legal Advisers:||Moore Barlow LLP||
|||The Oriel||
|||Guildford||
|||Surrey GU1 3SR||
|STATUS AND ADMINISTRATION||||
|Registered|Office:|The Gordon Foundation||
|||Gordon's School||
|||West End||
|||Woking||
|||Surrey GU24 9PT||





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|Bealert|to and take advantage|to and take advantage|to and take advantage|to and take advantage|to and take advantage|ofopportunities|ofopportunities|ofopportunities|ofopportunities|to|A range of new<br>partnerships<br>have or are being<br>established<br>that<br>will|
|---|---|---|---|---|---|---|---|---|---|---|---|
|extend|the influence|||of Gordon's||||at home||and|benefit current<br>students<br>and extend the Gordon's<br>reach. In addition<br>to|
|overseas|||||||||||the Harlequins<br>RFC Programme,<br>MoUs are in place with<br>Aldershot|
||||||||||||Town FC, with<br>Surrey<br>Storm (Netball)<br>and in discussion<br>with<br>Surrey|
||||||||||||County<br>Cricket<br>Club<br>and<br>the Bedser Foundation.<br>Cooperation<br>with|
||||||||||||Woking High School continues<br>under the Arete Partnership,<br>particularly|
||||||||||||for student<br>leadership<br>training<br>and inter-school<br>competitions,<br>and athird|
||||||||||||school will join during 2022. The new partnership<br>with Commonwealth|
||||||||||||Education<br>Trust<br>will<br>draw<br>on Gordon's<br>pedagogy<br>and<br>digital<br>IT|
||||||||||||experience. Opportunities<br>to create aGordon's<br>2 continue to be actively|
||||||||||||ex lored.|
|Ensure|that|support||services||provided|||by|The|Taking opportunities<br>to review for improvement<br>is embedded<br>within the|
|Gordon|Foundation|||are|fit|for||purpose||and|Support<br>teams.<br>During<br>the year<br>the role of HR administrator<br>was|
|commensurate||with|outstanding|||provision|||||increased<br>from part- to full-time;<br>with the need to appoint anew Deputy|
||||||||||||Head Pastoral, the role and responsibilities<br>ofDesignated<br>Safeguarding|
||||||||||||Lead has been separated<br>to a new post ofDSL, such is its importance|
||||||||||||and increasin<br>workload. The cleanin<br>contract was re-tendered.|
|Increase|the|Foundation's|||financial|||stability||and|Following<br>the Summer term discount on boarding<br>charges, maintaining|
|support|for financially|||necessitous|||students||||apositive cashflow alongside<br>capital commitments<br>was challenging<br>but|
||||||||||||achieved, Regular communication<br>ismaintained<br>vvith our Bank and there|
||||||||||||was no recourse to any further Bank facilities<br>apart from the existing|
||||||||||||capital loans. Bythe end ofthe year, 89(9.57%)students were in receipt|
||||||||||||ofa means-tested<br>bursary<br>with total spend X445,361 with 14 ofthose|
||||||||||||students<br>also supported<br>by nine<br>different<br>external<br>educational<br>trusts.|
||||||||||||f66,297 ofbursary<br>expenditure<br>relates to the effect ofCovid on parent|
||||||||||||em lo ment or business.|
|Deliver|world-class|||pastoral care,|||curriculum,||||In Sports, Gordon's School retains the Platinum<br>Schools' Award, as well|
|and co-curriculum|||provision||||||||as Arts achieving<br>the Arts Council England's<br>Artsmark<br>Silver Award,|
||||||||||||the only creative<br>quality<br>standard<br>for school and educational<br>settings.|
||||||||||||Music highlights<br>included<br>all LCM Musical Theatre entrants<br>receiving|
||||||||||||either merit or distinction,<br>as did 90%ofABRSM entrants.|
||||||||||||In a challenging<br>year for the co-curricular<br>programme,<br>students<br>enjoyed|
||||||||||||a range of opportunities<br>including<br>a KS5 debating<br>team<br>competing|
||||||||||||virtually<br>in the English<br>Speaking<br>Union MACE competition<br>and six|
||||||||||||Gordon's<br>teams<br>participated<br>in<br>virtual<br>MUN<br>events.<br>Although<br>not|
||||||||||||allowed to camp out, 85 Year 10students<br>completed<br>their DofE Bronze|
||||||||||||expeditions.<br>Three<br>Sixth<br>Formers<br>were<br>appointed<br>DofE Gordon's|
||||||||||||ambassadors<br>and 18 Gold Awards<br>were completed<br>through<br>the year. A|
||||||||||||virtual Gordon's<br>Careers Fair was held in March.|
||||||||||||Gordon's was re-awarded<br>the International<br>Schools' Award for a|
||||||||||||further three years and continues<br>to hold the Surrey Healthy<br>Schools|
||||||||||||Gold Award, thereby demonstrating<br>commitment<br>and successful|
||||||||||||support of students'<br>physical,<br>emotional<br>and mental<br>health, and|
||||||||||||wellbeing.<br>A Gordon's<br>team reached the finals ofthe Goldsmiths'|
||||||||||||Community<br>Engagement<br>Awards.|
||||||||||||Following<br>the 2020 curriculum<br>review recommendations<br>were|
||||||||||||implemented<br>from September 2021, including<br>atwo-week timetable|
||||||||||||that allow classes in Maths and English daily for KS3 and 4, the|
||||||||||||introduction<br>ofaKS5Liberal Arts Programme<br>and Mandarin<br>included|
||||||||||||within<br>the Y8 choice oflanguages.|
||||||||||||After 32years working<br>at Gordon's,<br>latterly<br>as part-time<br>Chaplain,<br>the|
||||||||||||Reverend<br>Sarah Norbron<br>left to take up parish duties, The Reverend|
||||||||||||Graham<br>Wright joined as part-time<br>Chaplain<br>in September 2021,|
||||||||||||bringing<br>extensive experience ofChaplaincy,<br>especially<br>in boarding|
||||||||||||schools.|





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|Risk|||||||
|---|---|---|---|---|---|---|
|The trustees|have|||assessed the major||risks to which The Gordon Foundation<br>is exposed and have taken steps to reduce and|
|manage these||risks, Trustees approve<br>a formal Risk Register which is updated<br>regularly<br>and reviewed<br>by the Joint Audit|||||
|and Risk Committee|||||at least annually.<br>The most significant<br>risks identified<br>are noted below together with the means by||
|which to manage||||the|risk:||
|||||||CONTROL|
|Worsening|||economic|||Regular consideration<br>given to economic factors which may affect parents'<br>ability|
|climate||||||to pay charges<br>and reduce ESFA funding,<br>Effect ofeconomic downturn<br>mitigated|
|||||||by reducing<br>costs where<br>possible<br>and holding<br>back on plans<br>as well as ensuring|
|||||||frequent<br>reporting of student<br>roll and finances. Maintain<br>a schedule ofpre-agreed|
|||||||changes<br>in<br>the<br>event of significantly<br>reduced<br>income.<br>Focus<br>on<br>developing|
|||||||alternative<br>income streams.|
|Loss ofcharitable|||||status|Compliance<br>with<br>requirement<br>of public<br>benefit;<br>the availability<br>of means-tested|
|||||||bursaries|
|Breach of||Health|||4 Safety|Crisis Management<br>Plan in place and reviewed<br>at least termly. Risks mitigated<br>by|
|issues; major||||incident||identifying<br>them,<br>setting<br>our<br>procedures<br>to<br>reduce<br>and<br>monitoring<br>that<br>all|
|resulting|in||loss oflife or|||procedures<br>are operating<br>effectively. H&S external advice, staff trained on specific|
|school closure.||||||procedures<br>and are reviewed<br>annual<br>by external<br>experts. H&S policy reviewed|
|||||||annually.<br>H&S Committee<br>meets<br>termly<br>or as required;<br>membership<br>includes<br>a|
|||||||trustee<br>/ governor. H&S part ofstaff induction,<br>Property<br>Services Manager<br>isH&S|
|||||||and Fire Officer, and is trained appropriately.|
|Compromised||||site security,||All staff know to challenge<br>strangers<br>on site; wear emergency<br>contact information;|
|buildings||and personnel||||security<br>contractor<br>employed<br>evenings,<br>overnight<br>and 24 hours<br>over weekends;|
|||||||resident<br>staff. Restricted<br>access to all buildings.<br>Perimeter<br>fencing<br>and<br>gates|
|||||||improved<br>but some weakness<br>end ofFront Field and should review north side access|
|||||||controls. Lockdown<br>procedures<br>in place.|
|Fire that|results in the|||||Fire risk assessments<br>carried out by specialist subcontractor<br>on atriennial<br>basis (or|
|school being||||unable to||sooner where there is an alteration to premises)<br>and reviewed<br>annually.<br>Procedures|
|operate||||||and evacuation<br>plans reviewed<br>annually.<br>Procedures<br>in place for dealing with arson,|
|||||||smoking,<br>kitchen,<br>heating,<br>lightening<br>conductors,<br>fire<br>evacuation,<br>alarm|
|||||||installation.<br>Routine<br>alarm<br>checks,<br>hydrants,<br>appliances.<br>Adequate<br>insurance<br>in|
|||||||place + disaster recovery plan which is tested.|
|Difficulty||in||staff|retention;|Staff turnover<br>data maintained.<br>Exit interviews<br>with Assistant<br>Bursar for all posts|
|poor staff||morale|||and|and report made to SLT.Pay rates reviewed<br>regularly<br>against<br>appropriate<br>market,|
|wellbeing||||||benchmark.<br>Effective communications<br>maintained<br>between<br>staff, line and senior|
|||||||managers,<br>Open Door for Head<br>and<br>Chair of Governors.<br>Appropriate<br>benefits|
|||||||provided<br>+ PRP<br>(teaching)<br>and<br>termly<br>bonus<br>scheme<br>(support).<br>Positive|
|||||||encouragement<br>touse non-contact time for wellbeing<br>activity ifwish to.Availability|
|||||||ofschool facilities for staff.|
|Loss ofInternet||||||Service is provided<br>by contracted IT managed<br>service provider<br>with high SLAs and|
|connectivity||||for a prolonged||24/7 remote monitoring.<br>Depending<br>on where the failure has occurred, a restricted|
|period||||||network<br>provision<br>could be restored. Backup second internet feed being considered|
|||||||(less speed but adequate<br>for priority<br>purposes).<br>School website<br>can be updated<br>to|
|||||||inform<br>parents if prolonged<br>loss of service or SchoolComms<br>messaging.<br>Termly|
|||||||check ofdisaster recovery plan with ITmanaged<br>Services.|





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||||||||Unrestricted|Restricted|||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Funds|Funds|Total|Total|
||||||||||2021|2020|
|||||||Note|||||
|Income from:|||||||||||
|Donations<br>and legacies|||||||13,136||13,136|92,300|
|Grants|||||||159,157||159,157|462,520|
|Charitable<br>activity:|||||||||||
|Income from boarding|charges||||||8,415,478|36,481|8,451,959|7,092,768|
|Other operating<br>income|||||||240,304||240,304|215,851|
|Funding<br>for the Academy's||||||||5,109,004|5,109,004|5,186,906|
|educational<br>operations|||||||||||
|Trading activities:|||||||||||
|Trading income|||||||41,822||41,822|21,901|
|Investment<br>income|||||||95,723|10,806|106,529|78,075|
|Total income|||||||8,965,620|5,156,291|14,121,911|13,150,321|
|Expenditure<br>on:|||||||||||
|Charitable<br>activity:|||||||||||
|Staff costs|||||||5,489,150|3,883,087|9,372,237|8,678,783|
|Educational<br>costs||||||||481,604|481,604|534,952|
|Welfare costs|||||||1,611,619|420|1,612,039|1,219,652|
|Premises costs|||||||2,344,105|946,616|3,290,721|2,603,511|
|Support costs|||||||404,420|323,903|728,323|591,318|
|Raising funds:|||||||||||
|Finance costs|||||||244,926||244,926|105,680|
|Investment<br>management|||||||762||762|54,714|
|Trading activities:|||||||||||
|Trading costs|||||||12,683||12,683|2,803|
|Total expenditure|||||||10,107,665|5,635,630|15743 295|13,791,413|
|Net income/(expenditure)|||||||(1&142,045)|(479,339)|(1,621,384)|(641,092)|
|Gross transfers<br>between||funds||||17|||||
||||||||(1,142,045)|{479,339)|(1,621,384)|{641,092)|
|Other recognised<br>gains||and|losses||||||||
|Actuarial<br>(losses)/gains||on defined benefit||||21||(174,000)|(174,000)|(541,000)|
|pension schemes|||||||||||
|Net gains/(losses)<br>on investments|||||||394,019|36,403|430,422|(28,942)|
|Net movement<br>in funds||for the year|||||(748,026)|(616,936)|(1,364,962)|(1,211,034)|
|Fund<br>balances<br>brought|||forward|at|1|16,|14,664,624|(18,683)|14,645,941|15,856,975|
|September 2020||||||17|||||
|Fund balances carried||forward<br>at 31 August||||16,|||||
|2021||||||17|13,916,598|(635,619)|13,280,979|14,645,941|





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||||2021|2020|
|---|---|---|---|---|
|||||As restated|
|||Notes|||
|FIXEDASSETS|||||
|Tangible||8|21,170,012|21,047,763|
|Investments||9,10|3,421,773|2,885,598|
||||24,591,785|23,933,361|
|CURRENT ASSETS|||||
|Debtors||12|776,046|1,499,576|
|Cash at bank and in hand|||743,138|371,554|
||||1,519,184|1,871,130|
|CREDITORS: Amounts|falling due||||
|within one year||13|(3,714,563)|(3,159,094)|
|NETC~NT LIABILITIES|||(2,195,379)|(1,287,964)|
|TOTAL ASSETSLESS|CURRENT||||
|LIABILITIES|||22,396,406|22,645,397|
|CREDITORS; Amounts|falling due||||
|after more than one year||14|(7,212,427)|(6,454,456)|
|NET ASSETSBEFORE|PENSION||||
|LIABILITY|||15,183,979|16,190,941|
|PENSION SCHEME LIABILITY||21|(1,903,000)|(1,545,000)|
|NKT ASSETS|||13,280,979|14,645,941|
|FUNDS|||||
|Unrestricted<br>funds||16|13,916,598|14,664,624|
|Restricted —Specific Funds||17|1,267,381|1,526,317|
|Restricted - Pension Reserve||17|(1,903,000)|(1,545,000)|
||||13,280,979|14,645)941|






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||||||||||2021||||2020||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||As|restated||
|||||Notes|||||||||||
|FIXED ASSETS|||||||||||||||
|Tangible|||||8||||20,962,028|||||20,861,549|
|Investments|||||9|||||3,421,773||||2,885,598|
|Investment<br>in subsidiary|||company||10|||||2||||2|
||||||||||24,383,803|||||23,747,149|
|CURRENT ASSETS|||||||||||||||
|Debtors|||||12||501,087|||||751,619|||
|Cash at bank and in|hand||||||659,980|||||295,382|||
||||||||1,161,067||||1,047,001||||
|CREDITORS: Amounts|||falling due||||||||||||
|within one year|||||13|(5,166,632)|||||(3,727,456)||||
|NET CURRENT LIABILITIES|||||||||(4,055,565)|||||(2,680,455)|
|TOTAL ASSETSLESSCURRENT|||||||||||||||
|LIABILITIES|||||||||20,378,238|||||21,066,694|
|CREDITORS: Amounts|||falling due||||||||||||
|after more than one|year|||14|||||(7,131,954)|||||(6,454,456)|
|NET ASSETS|||||||||13)246,284|||||14,612,238|
|FUNDS|||||||||||||||
|Unrestricted<br>funds||||19|||||12,340,241|||||13,789,465|
|Restricted funds||||20||||||906,043||||822,773|
||||||||||13,246,284|||||14,612,238|
|The charitable<br>company||has taken exemption||from|presenting||the charity||statement<br>offinancial|||activities under section|||
|408 of the Companies|Act||2006. The net expenditure||ofthe charitable|||company||for the year|was 81,365,954|||(2020:net|
|expenditure<br>X1,211,986).|||||||||||||||





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|||||2021|||2020||
|---|---|---|---|---|---|---|---|---|
|||||Note|||||
|Net cash inflow from operating||activities||A|574,590|||966,455|
|Cash flows from investing|activities||||||||
|Investment<br>income received||||106,529||78,075|||
|Capital grants from DFE/ESFA||||518,135||23,114|||
|Purchase offixed assets||||(1,434,008)||(5,255,480)|||
|Purchase ofinvestments||||(169,314)||(2,606,101)|||
|Sale ofinvestments||||63,560||2,662,757|||
|Net cash outflow from investing||activities|||(915,098)|||(5,097,635)|
|Cash flow from financing|activities||||||||
|Loan repayments||||(133,333)||(11,847)|||
|New loan finance||||1,090,351||4,587,789|||
|Interest paid||||(244,926)||(105,680)|||
|Net cash inflow from financing||activities|||712,092|||4,470,262|
|Change in cash and cash|equivalents||in the year||371,584|||339,082|
|Cash and cash equivalents|at the|beginning ofthe year|||371,554|||32,472|
|Cash and cash equivalents|at the|end ofthe year|||743,138|||371,554|
|RECONCILIATION<br>OFNET EXPENDITURE||||||2021||2020|
|TO NKT CASH INFLOW FROM OPERATING ACTIVITIES|||||||||
|Net income/(expenditure)||||||(1,364,962)||(1,211,034)|
|Depreciation||||||1,311,759||1,038,540|
|ESFA capital grants||||||26,020||(689,885)|
|Losses/(Gains)<br>on investments||||||(430,422)||28,942|
|Movement<br>in stock||||||||8,565|
|Decrease/(increase)|in debtors|||||729,342||(491,998)|
|(Decrease)/increase|in creditors|||||(193,544)||1,564,720|
|Investment<br>income|receivable|||||(106,529)||(78,075)|
|Finance Costs||||||244,926||105,680|
|Pension adjustment||||||358,000||691,000|
|Net cash inflow from operating|||activities|||574,590||966,455|
|B.<br>ANALYSIS OF CASH||AND CASH EQUIVALENTS||||2021||2020|
|Cash at bank||||||743,138||371,554|
|Overdraft|||||||||
|||||||743,138||371,554|





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|||||||||2021||2020|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Unrestricted|Restricted|Total|Total|
||||||||Funds|Funds|||
|1.|DONATIONS|AND LEGACIES|||||||||
||Donations<br>and gifts||||||13,136||13,136|92,300|
||Legacies||||||||||
||||||||13,136||13,136|92,300|
|2.|GRANTS||||||||||
||Government<br>grant - Coronavirus|||||Job|159,157||159,157|462,520|
||Retention<br>Scheme||||||||||
||||||||159,157||159,157|462,520|
|3.|INCOME FROM CHARITABLE ACTIVITIES||||||||||
||Gross income from boarding||||charges||8,875,707|36,481|8,912,188|7,423,220|
||Less:||||||||||
||Bursaries||||||(431,590)||(431,590)|(289,085)|
||Staff discounts||||||(15,405)||(15,405)|(4,313)|
||Other discounts||||||(13,234)||(13,234)|(37,054)|
||Net income from||boarding|charges|||8,415,478|36,481|8,451,959|7,092,768|
||Other operating||income||||240,304||240,304|215,851|
||Funding<br>for the|Academy's|||educational|||5,109,004|5,109,004|5,186,906|
||operations||||||||||
||||||||8,655,782|5,145,485|13,801/67|12,495,525|
|4.|TRADING ACTIVITIES||||||||||
||Trading income||||||41,822||41,822|21,901|
||||||||41,822||41,822|21,901|
|5.|INVESTMENT||INCOME||||||||
||Interest received||||||14||14|17|
||Dividends<br>received||||||95,709|10,806|106,515|78,058|
||||||||95,723|10,806|106,529|78,075|





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|6.|EXPENDITURE||||||2021|
|---|---|---|---|---|---|---|---|
|||||Staff Costs|Other|Depreciation|Total|
||||||f.|||
||Charitable<br>activity:|||||||
||Staffcosts|||9,372,237|||9,372,237|
||Teaching costs||||481,604||481,604|
||Welfare costs||||1,612,039||1,612,039|
||Premises costs||||1,978,962|1,311,759|3,290,721|
||Support costs||||728,323||728,323|
|||||9,372,237|4,800,928|1,311,759|15,484,924|
||Raising funds:|||||||
||Finance costs||||244,926||244,926|
||Other costs||||762||762|
||Trading costs||||12,683||12,683|
|||||9/72,237|5,059,299|1411,759|15,743,295|
||EXPENDITURE (PRIOR YEAR)|||||||
||||||||2020|
|||||Staff Costs|Other|Depreciation|Total|
|||||||f.||
||Charitable<br>activity:|||||||
||Staffcosts|||8,678,783|||8,678,783|
||Teaching costs||||534,952||534,952|
||Welfare costs||||1,219,652||1,219,652|
||Premises costs||||1,564,971|1,038,540|2,603,511|
||Support costs||||591,318||591,318|
|||||8,678,783|3,910,893|1,038,540|13,628,216|
||Raising funds:|||||||
||Finance costs||||105,680||105,680|
||Other costs||||54,714||54,714|
||Trading costs||||2,803||2,803|
|||||8,678,783|4,074,090|1,038,540|13,791,413|
|||||||2021|2020|
||Total expenditure|includes:||||||
||Depreciation|||||1,311,759|1,038,540|
||Operating<br>lease payments||recognised|as an expense||194,509|279,386|
||Auditor's<br>remuneration:||-Audit fees|||21,200|19,815|
||||- Other services|||8,325|7,465|





## 

## 

## 

|7.|STAFF COSTS|||2021|2020|
|---|---|---|---|---|---|
||Wages and salaries|||7,345,031|6,&22,802|
||Social security costs|||695,402|648,289|
||Other pension costs|||1,319,564|1,207,692|
||Staffrestructuring<br>costs|||12,240||
|||||9,372,237|8,678,783|
|||||2021|2020|
|||||No|No|
||The average number ofemployees||in the year was:|||
||Teachers|||70|68|
||Administration<br>(including|academic|support &maintenance)|176|157|
|||||246|225|
||The number ofhigher paid|staff during the year was as follows:||||
||f60,001to 570,000|||||
||$70,001tof80,000|||||
||K80,001to f90,000|||||
||K90,001to 5.100,000|||||
||K120,001to $130,000|||||
|||||12|13|





## 

## 

## 

## 

## 

|FIXEDASSETS —GROU|P AND CHARIT|Y||||||
|---|---|---|---|---|---|---|---|
||I'reehold|Machinery &|Fixtures|Assets under|Total|Academy|Total|
||Land &|||||||
||Buildings|Equipment|Fittings|Construction|Charity|Trust|Group|
|COST||||||||
|At 1 September 2020|19,542,987|1,017,080|801,143|5,524,891|26,886,101|920,753|27,806,854|
|Additions|598,630|5,075|16,075|663,579|1,283,359|150,649|1,434,008|
|Reclassification|6,033,648|||(6,033,648)||||
|At 31August 2021|26,175,265|1,022,155|817,218|154,822|28,169,460|1,071,402|29,240,862|
|DEPRECIATION||||||||
|At 1 September 2020|4,651,013|735,600|637,938||6,024,551|734,540|6,759,091|
|Charge for the year|1,020,872|80,352|81,657||1,182,881|128,878|1,311,759|
|Re classification||||||||
|At 31August 2021|5,671,885|815,952|719,595||7,207,432|863,418|8,070,850|
|NET BOOKVALUE||||||||
|At 31August 2021|20,503,380|206,203|97,623|154,822|20,962,028|207,984|21,170,012|
|At 31August 2020|14,891,974|281,480|163,205|5,524,891|20,861,550|186,213|21,047,763|



## 

|FIXEDASSETSINV|ESTMENTS|—G|ROUP AND CHARITY|||
|---|---|---|---|---|---|
|||||2021|2020|
|Balance at I September|2020 (excluding||cash deposits)|2,852,799|2,665,350|
|Additions||||169,314|2,606,101|
|Disposals<br>at opening<br>market value||||(84,644)|(2,389,710)|
|Realised and unrealised|(losses)/gains|||430,422|(28,942)|
|Balance at 31 August 2021 (excluding||cash deposits)||||
|||||3@67,891|2,852,799|
|Cash deposits||||53,882|32,799|
|Balance at 31August|2021|||3,421,773|2,885,598|
|Class ofinvestments|is split as follow:|||2021||
|Cash or cash equivalents||||53,882||
|Equities||||3,241,188||
|Alternative<br>investments||||67,243||
|Fixed interest||||59,460||
|Balance at 31 August|2021|||3,421,773||





## 

## 


## 

|Academ<br>results|:||||
|---|---|---|---|---|
||||Total|Total|
||||2021|2020|
|SOFA|||||
|Total Income|||7,789,953|7,493,852|
|Total Expenditure|||(7,614,961)|(6,951,900)|
|Net uicome/(expenditure)|||174,992|541,952|
|Other recognised|gains and losses||||
|Actuarial(losses)|on|defined benefit pension scheme|(174,000)|(541,000)|
|Net movement<br>in|funds||992|952|
|Total funds brought||forward at 1 September 2020|20,116|19,164|
|Total funds carried forward at 31August 2021|||21,108|20,116|
|Balance Sheet|||||
|Fixed Assets|||207,984|186,213|
|Current Assets|||2,622,926|1,976,866|
|Current Liabilities|||(826,329)|(597,963)|
|Creditors<br>falling due after more than one year|||(80,473)||
|LGPS Pension Scheme Liabilities|||(1,903,000)|(1,545,000)|
|Total Funds|||21,108|20,116|





## 

## 

## 

||||2021|2020|
|---|---|---|---|---|
|Profit and Loss Account|||||
|Turnover|||39,695|11,285|
|Costs|||(12,683)|(2,803)|
|Profit for the year|||27,012|8,482|
|Donation to The Gordon Foundation<br>Retained Profit for the Year|||~27 012<br>ZNil|~8482~i|
|Balance Sheet|||||
|Net Current Assets|||13587||
|Retained Profits|||13,585|13,585|
|Share capital|||2|2|
|Total equity||||~13 58|
|DEBTORS|Group|Group|Charity|Charity|
||2021|2020|2021|2020|
|||As restated||As restated|
|Boarding charge debtors|178,448|117,462|178,448|117,462|
|Sundry<br>debtors|3,639|73,125|111|64,964|
|Amount<br>owing to subsidiaries|||39,994|12,982|
|Prep ayments<br>VAT reclaim|168,384<br>302,959|170,813<br>471,405|55,937<br>226,597|160,894<br>395,317|
|Accrued income|122,616|666,771|||
||776,046|1,499,576|501,087|751,619|




||||||776,046|1,499,576|501,087|751,619|751,619|
|---|---|---|---|---|---|---|---|---|---|
||As detailed<br>in note 1(a)|a prior||year adjustment|has been made|to reduce 2020|Boarding<br>charge|debtors<br>by||
||5.1,691,134and acorresponding|||amount reduced|from Boarding Charges in advance||in Creditors: Amounts||falling|
||due within one year (note|13).||||||||
|13.|CREDITORS: amounts|falling||due|Group|Group|Charity||Charity|
||within<br>one year||||2021|2020|2021||2020|
|||||||As restated||As restated||
||Loans and overdraft||||332,380|133,333|320,000||133,333|
||Trade creditors||||1,384,102|465,296|975,834||139,114|
||Boarding charges in advance||and pupil deposits||849,028|1,001,236|849,028||1,001,236|
||Taxation<br>and social security||||]80,390|159,274|50,563||43,307|
||Other creditors||||792,436|329,676|555,356||223,096|
||Amount<br>owing to subsidiaries||||||2,282,802||1,168,646|
||Accruals<br>and deferred<br>income||||176,227|1,070,279|133,049||1,018,724|
||||||3,714,563|3,159,094|5,166,632|3,727,452||





## 

## 

## 

|14.|CREDITORS: amounts|falling due|Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|
||after more than one year||2021|2020|2021|2020|
|||||||f.|
||Bank loan||7,212,427|6,454,456|7,131,954|6,454,456|
||Other loan||||||
||||7,212,427|6,454,456|7,131,954|6,454,456|
||Analysis ofloans:||||||
||Between one and two years||332,380|320,000|320,000|320,000|
||Between two and five years||997,141|960,000|960,000|960,000|
||After five years||5,882,906|5,174,456|5,851,954|5,174,456|
||||7,212,427|6,454,456|7,131,954|6,454,456|
||Due within one year||332,380|133,333|320,000|133,333|
||||7,544,807|6,587,789|7,451,954|6,587,789|





## 

## 

## 

||2021|2020|
|---|---|---|
|Leases expiring:|||
|Within one year|225,089|293,219|
|Between two and five years|238,105|346,616|
|More than five years|||
||463,194|639,835|



## 

|UNRESTRICTED|FUNDS|||||||
|---|---|---|---|---|---|---|---|
||1September||||Investment||31August|
||2020||Income|Expenditure|Gains|Transfers|2021|
|Designated-|51,743|||(1,092)|||50,651|
|Eyre Fund||||||||
|General Fund|14,612,881|8,965,620||(10,106,573)|394,019||13,865,947|
||14,664,624|8,965,620||(10,107,665)|394,019||13,916,598|
|UNRESTRICTED|FUNDS (PRIOR||YEAR)|||||
||1September||||||31August|
||2019||Income|Expenditure|Investment|Transfers|2020|
||||||(Losses)|||
|Designated-|53,055|||(1,312)|||51,743|
|Eyre Fund||||||||
|General Fund|14,384,087||7,836,499|(8,862,154)|(1,931)|1,256,380|14,612,881|
||14,437,142||7,836,499|(8,863,466)|(1,931)|1,256,380|14,664,624|





## 

## 

## 

|RESTRICTE|D|FUNDS|||||||
|---|---|---|---|---|---|---|---|---|
||||Balance at|||||Balance at|
||||1September|||Investment||31August|
||||2020|Income|Expenditure|Gains/(losses)|Transfers|2021|
|Specific funds:|||||||||
|Gordon Foundation|||387,606|10,806||36,403||434,815|
|Special fund|||||||||
|Stepping Forward|||300,686|||||300,686|
|Appeal|||||||||
|Camel fund|||||||||
|Piano fund|||2,160||(420)|||1,740|
|Bursaries|||52,917|36,481||||89,398|
|DfCSF (DfE) fund|||517,331|5,109,004|(5,322,332)||(150,649)|153,354|
|Other restricted||funds|79,404|||||79,404|
|DfE Fixed Asset||fund|186,213||(128,878)||150,649|207,984|
||||1,526,317|5,156,291|(5,451,630)|36,403||1,267/81|
|Pension reserve|||(1,545,000)||(184,000)|(174,000)||(1,903,000)|
|RESTRICTED||FUNDS|||||||
|(PRIOR YEAR)|||||||||
||||Balance at|||||Balance at|
||||1September|||Investment||31August|
||||2019|Income|Expenditure|Gains/(losses)|Transfers|2020|
|||||||f.|||
|Specific funds|||||||||
|Gordon Foundation|||||||||
|Special fund|||403,273|11,344||(27,011)||387,606|
|Stepping Forward|||||||||
|Appeal fund|||300,686|||||300,686|
|Camel fund|||1,000||(1,000)||||
|Piano fund|||2,400||(240)|||2,160|
|Bursaries|||16,749|36,168||||52,917|
|DfCSF (DfE) fund|||1,266,103|5,166,902|(4,659,294)||(1,256,380)|517,331|
|Other restricted|funds|||79,404||||79,404|
|DfEFixed Asset|fund||283,622|20,004|(117,413)|||186,213|
||||2,273,833|5,313,822|(4,777,947)|(27,011)|(1,256,380)|1,526,317|
|Pension reserve|||(854,000)||(150,000)|(541,000)||(1,545,000)|





## 

## 

## 

## 

## 

|ALLOCATION OFTHE|GROUP NET ASS|ETS||||
|---|---|---|---|---|---|
|||Fixed|Net Current|Long Term||
||Investments|Assets|Assets|Liabilities/|Total|
||||(Liabilities)|Pension||
|Restricted —Specific|275,553|207,984|783,844||1,267,381|
|Restricted —Pension reserve||||(1,903,000)|(1,903,000)|
|Unrestricted|3,146,220|20,962,028|(2,979,223)|(7,212,427)|13,916,598|
||3,421,773|21,170,012|(2,195,379)|(9,115,427)|13,280,979|
|ALLOCATION OFTHE|GROUP NET ASSETS(PRIOR YEAR)|||||
|||Fixed|Net Current|Long Term||
||Investments|Assets|Assets|Liabilities/|Total|
||||(Liabilities)|Pension||
|Restricted —Specific|229,172|186,213|1,110,932||1,526,317|
|Restricted —Pension reserve||||(1,545,000)|(1,545,000)|
|Unrestricted|2,656,426|20,861,550|(2,398,896)|(6,454,456)|14,664,624|
||2,885,598|21,047,763|(1,287,964)|(7,999,456)|14,645,941|



## 

## 

||Balance at|||||Balance at|
|---|---|---|---|---|---|---|
||1September|||Investment||31August|
||2020|Income|Expenditure|Gains/(losses)|Transfers|2021|
|Designated - Eyre Fund|51,743||(1,092)|||50,651|
|General Fund|13,737,722|8,950,810|(10,792,961)|394,019||12,289,590|
||13,789,465|8,950,810|(10,794,053)|394,019||12,340,241|





## 

## 

## 

|||Balance at|Balance at||||||Balance at|
|---|---|---|---|---|---|---|---|---|---|
|||1|September||||||31August|
||||2019.|Income|Expenditure||Investment|Transfers|2020|
||||||||Gains/(losses)|||
|Designated<br>-Eyre Fund|||53,055|||(1,312)|||51,743|
|General|Fund||13,831,513|7,814,597||(9,122,005)|(1,931)|1,215,548|13,737,722|
||||13,884,568|7,814,597||(9,123,317)|(1,931)|1,215,548|13,789,465|
|20.|CHARITY RESTRICTED FUNDS|||||||||
||||Balance at||||||Balance at|
||||1September||||Investment||31August|
||||2020|Income||Expenditure|Gains|Transfers|2021|
||||||f.|||||
||Gordon Foundation||387,606||10,806||36,403||434,815|
||Special fund|||||||||
||Stepping Forward Appeal||300,686||||||300,686|
||Camel fund|||||||||
||Piano fund||2,160|||(420)|||1,740|
||Bursaries||52,917|36,481|||||89,398|
||DfCSF (DfE) funds|||||||||
||Other restricted|funds|79,404||||||79,404|
||||822,773|47,287||(420)|36,403||906,043|
||CHARITY RESTRICTED FUNDS (PRIOR YEAR)|||||||||
||||Balance at||||||Balance at|
||||1September||||Investment||31August|
||||2019|Income||Expenditure|Gains/losses|Transfers|2020|
|||||||f.||||
||Gordon Foundation|||||||||
||Special fund||403,273||11,344||(27,011)||387,606|
||Stepping Forward|||||||||
||Appeal||300,686||||||300,686|
||Camel fund||1,000|||(1,000)||||
||Piano fund||2,400|||(240)|||2,160|
||Bursaries||16,749||36,168||||52,917|
||DfCSF (DfE) funds||1,215,548|||||(1,215,548)||
||Other restricted|funds|||79,404||||79,404|
||||1,939,656|126,916||(1/40)|(27,011)|(1,215,548)|822,773|





## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

|Total contributions<br>made||||
|---|---|---|---|
|||2021|2020|
|Employer's<br>contributions||141,000|124,000|
|Employees'<br>contributions||37,000|32,000|
|Total contributions||178,000|156,000|
|Principal<br>actuarial<br>assumptions||||
|||2021|2020|
||||0/|
|Rate ofincrease in salaries||3.8|3.2|
|Rate ofincrease for pensions|in payment/inflation|2.9|2.3|
|Discount rate for scheme liabilities||1,65|1.7|



|||2021|2020|
|---|---|---|---|
|||Years|Years|
|Retiring today||||
|-Males||22.3|22.1|
|-Females||24.7|24.3|
|Retiring|in 20 years|||
|-Males||23.4|22.9|
|-Females||26.4|25.7|





## 

|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|Discount rate +0,1%||||||(84,000)|(67,000)|
|Discount rate - 0.1%||||||84,000|67,000|
|Mortality<br>assumption|||+|1 year||154,000|120,000|
|Moii:ality assumption|||-|1year||(154,000)|(120,000)|
|CPIrate+ 0.1%||||||80,000|64,000|
|CPI rate - 0.1%||||||(80,000)|(64,000)|
|Defined benefit|pension scheme net liability|||||||
|||||||2021|ZOZO|
|Scheme assets||||||1,942,000|1,448,000|
|Scheme obligations||||||(3,845,000)|(2,993,000)|
|Net liability||||||(1,903,000)|(1,545,000)|
|The academy trust's||share||ofthe assets in the scheme||||
|||||||2021|2020|
|||||||Fair value|Fair value|
|Equities||||||1,456,000|1,043,000|
|Bonds||||||311,000|246,000|
|Cash||||||39,000|43,000|
|Property||||||136,000|116,000|
|||||||1,942,000|1,448,000|
|The actual return|on scheme|||assets was a gain|off343,000(2020:loss ofX13,000).|||
|Amount<br>recognised||in the Statement ofFinancial Activities||||||
|||||||2021|2020|
|Current service|cost|||||298,000|257,000|
|Interest income||||||(26,000)|(25,000)|
|Interest cost||||||53,000|42,000|
|Benefit changes,|curtailments|||and settlements|gains or losses|||
|Total operating|charge|||||325,000|274,000|





## 

## 

## 

|Changes<br>in the present value ofdefined benefit obligations|2021|2020|
|---|---|---|
|At 1 September 2020|2,993,000|2,185,000|
|Current service cost|298,000|257,000|
|Interest cost|53,000|42,000|
|Employee<br>contributions|37,000|32,000|
|Actuarial<br>loss|491,000|503,000|
|Benefits paid|(27,000)|(26,000)|
|At 31August 2021|3,845,000|2,993,000|
|Changes<br>in the fair value ofthe academy trust's share ofscheme assets|||
||2021|2020|
|At 1 September 2020|1,448,000|1,331,000|
|Interest income|26,000|25,000|
|Actuarial<br>loss/(gain)|317,000|(38,000)|
|Employer<br>contributions|141,000|124,000|
|Employee<br>contributions|37,000|32,000|
|Benefits paid|(27,000)|(26,000)|
|At 31August 2021|1,942,000|1,448,000|



## 



## 

## 

## 

||||||||Unrestricted|Restricted|||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Funds|Funds|Total|Total|
||||||||||2020|2019|
||||||Note||||||
|Income from:|||||||||||
|Donations<br>and legacies|||||||12,896|79,404|92,300|126,762|
|Grants|||||||462,520||462,520||
|Charitable<br>activity:|||||||||||
|Income from boarding||charges||||3|7,056,600|36,168|7,092,768|7,968,229|
|Other operating<br>income||||||3|215,851||215,851|548,643|
|Funding<br>for the Academy's||||||||5,186,906|5,]86,906|4,373,405|
|educational<br>operations|||||||||||
|Trading activities:|||||||||||
|Trading<br>income|||||||21,901||21,901|44,058|
|Investment<br>income|||||||66,731|11,344|78,075|91,883|
|Total income|||||||7,836,499|5,313,822|13,150,321|13,152,980|
|Expenditure<br>on:|||||||||||
|Charitable<br>activity:|||||||||||
|Staff costs|||||||5,285,457|3,393,326|8,678,783|7,780,797|
|Educational<br>costs||||||||534,952|534,952|570,151|
|Welfare costs|||||||1,219,412|240|1,219,652|1,114,130|
|Premises costs|||||||1,827,056|776,455|2,603,511|2,522,805|
|Support costs|||||||368,344|222,974|591,318|1,340,216|
|Raising funds:|||||||||||
|Finance costs|||||||105,680||105,680|123,573|
|Investment<br>management|||||||54,714||54,714|6,527|
|Trading activities:|||||||||||
|Trading costs|||||||2,803||2,803|147|
|Total expenditure||||||6|8,863,466|4,927,947|13,791,413|13,458,346|
|Net income/(expenditure)|||||||(1,026,967)|385,875|(641&092)|(305,366)|
|Gross transfers<br>between|||funds|||17|1,256,380|(1,256,380)|||
||||||||229,413|(870,505)|(641,092)|(305,366)|
|Other recognised|gains||and losses||||||||
|Actuarial<br>(losses)/gains||on defined||benefit||21||(541,000)|(541,000)|(258,000)|
|pension schemes|||||||||||
|Net gains/(losses)|on investments|||||9|(1,931)|(27,011)|(28,942)|21,595|
|Net movement<br>in|funds||for the year||||227,4S2|(1,438,516)|(1,211&034)|(541,771)|
|Fund<br>balances<br>brought<br>forward||||at|1||14,437,142|1,419,833|15,856,975|16,398,746|
|September 2019|||||||||||
|Fund<br>balances<br>carried|||forward|at|31|16,|||||
|August 2020||||||17|14,664,624|(18,683)|14,645,941|15,856,975|