R•gtstered number: 00872414 Charfty numbgr: 312663 ROKEBY EDUCATIONAL TRUST LIMrrED GOVERNORS REPORT AND FIMANCIAL 8TATEMENrJ FOR THE YEAR ENDED 31 AUGUST 2021 ROKEBY EDUCATIONAL TRUST UMITED IA Company LIMIt￿ by Guarnnto0} CONTENTS Governor•, rnport Ind•p•nd•nt Audltorn. R•port 15 St•t•m•nt of Flnanclal Actlvltl•• 18 BJl•n¢o Sh••1 19 Cuh Flow st￿•m•nt 20 N*)tts to th• Flnlnclil Sl•t•m•nts 21 ROKEBY EDUCATIONAL TRUST UMITED (A Company Llmlted by Guarnn¢•• GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 The GoV￿nOr$ present their report and the fina￿la1 statements of Rokaby EdLUttinal Tru¥t Limited (referred lo as Ihe"Companf, °R[*•b￿ or the"ScI￿.) for the y6ar and￿ 31 August 2021. AIM8, OBJECTIVES AND AUMTleS The prirKipal charitablo 0￿.￿tiVe lor whkh thè Compony was e8￿11$hOd 18 thè provlsH)n of a 8chool. The schoc4 focu8e8 on the prmwy akn ol provhling an excell¢nt, WKlfyrydualty tailorfAI education for Lw8 In south we81 London and Surrty. Rokeby prow'des day sch￿1 educatim for from 413. The I(>￿8 of tha schocA's knadershlp 1$ developing inlerperyonal and intrapersonal sklls lo enable each to a¢hiev• his full potential as an alkround person. The school wants to en8ure that dl boy$ Ère well suited for Ihwr future in thè modern woikplace but- mo importantty - that they are ¢qu￿ped lo be succe88fv19nd hrypy citoen8. Above all else, the schtrjl lim8 to 'bring o(rt the brrfliant in each and every boy.. To th*, ts school has fwe main objectives.. 1. To ￿1P exh boy lo dèvdop Strong tognlfv• skllls Ilhinking and Nrfellectu&l) and • gocxl attitude lthvaTd8 leamirvJ 2. To help each bcy to dgv•lop excdfent p•rson•l skllls. incIL￿1ry 8eW-wareness, Self4r￿t￿lIk)n. and sew-iegulalion," so that he c8n be confrflgnt, resilient, and po8itiV8 418i(uation8 3. To help each boy lo develop excelknl Int•ip•rs¢>naltso¢l•l s￿11￿ $0 that ho can kn to collaborat•. be empathetic, 8s8ertNe and resp¢cthil aTrJ to ￿nmuniCate juccegsfulty. 4. To help e&h boy to contrlbutepoJhfv*y lo our xKiety and environment so that ho can grow up into $uw$ful and considerat8 citizen. 5. To h91) him lo achieve enlry to a s•nlorschoolwhth i• $uit8d to his abM60e8. Wlterasts. perwialty •nd needs. In a¢cordanc• wrth ts chwit8ble o*etheJ, the Comwy Jtrr40• to advance th• educ￿On ofthe boy• attending the school. The C¢ryny's principal beneficiwies are therefcrfe th• pwils, and benefits lo pupils are provided through continuing lo Manta￿ a h￿3h 8tandard of 8ducati¢x thToughc¥Jt t￿ sthool. Th8 general public is also a beneficiary as attendance at Rokeby Saves the gov•mment and general public the co$t of Qducallng 400 children. The Gov•rnors have t8ken The Charity Commin8ion'$ 8pecrfK gU￿anCe ￿ public bènefit (contained wilhln the guidonce dcKuff•nt"The Advancement of Educatbn for the Public Bendifi into conshjerat￿n in pr¢paring their stslements on publlc benefil contsined wrthin thL8 Goverrnr¥' Annual Report. The Govern¢y¥. as the ¢harity trustees, have ccfflpl*d wth the Chwities AGt 2011 to have regwd lo the Charly Commi881on'$ published guidance ¢Jn public ￿￿errt. The Company tokes a mult1-pr0r￿d approxh to its Public Benefft obligations. Thè Govemors first re￿gnIse that 8chocl ha8 a mlnlmal endowment, that all costs assctthd with the provi$Dn of publ￿ bgn•fil fall on th¢￿ paying the fees thars*d for pupils ottending the ￿￿X4. and th8t the 8ttendance of pupils at the schcol relieves public funds. Against this backgrwnd. the Govemors ovgrsee the provision ol add￿"Onal Publ￿ ￿nefit in calegort83.' the provrsK>n of bursar￿$ and fina￿la1 support to ena￿e more boys to attend the school. and th¥ usg ofthe ¥chool'¥ tscilts'es and rewurcu by cthers. Tl*re Th*P 11 •4vwd• of some fofft offironckgl a8Sk81ance. During the parKlemK, the goVe￿K)r5 have plxed the boys, educatiw first and fcyemost over parents. flnancial ircumslances. The sch(xJl off8rgd a diswunt lo all paronts of a 7.5 per¢enl rebate of the Gosl of the Spring Tem, during which &Jucation occurred entiT•ty remotety. There was also rjo increase to fees from the 2019-20 year. In addit￿ to the discount that the schcd granted to al parents during the Icd(dcpHns, tho School sel up Covid 19 emergency fund which PThhled fee relief fc* parènts Irn￿ed ty Ctyld 19. The school has granted a Icrtal cl £60.911 to 18 chddron $0 far durirvJ thg Covi&19 paTrJern. ROKEBY EDUCATIONAL TRUST UMrrED A C¢Jmpany Llmlted by GuaraThto•) GOVERNORS, REPORT FOR THE YEAR ENOED 31 AUGUST 2021 As well as the provision of education to fee-paying and bursarial pwlls, thè 8¢hool normalty works in collaboration wrth other schc4)Is and ttganisations in the krtal communty to share its Tasources in ways whlch 11 be of mulu81 benefrt. Hcmmer, due to the CovK*19 pandeffl￿, rt was Unab￿ to do so in this finanGial year. Thè School supports ts81 and overseas Ghanb"es, selected by the boys. The school p￿y$ a strong role in its IcrAI Gommunty, through VL4unteerry, seryre a￿1 the sharing cl r08tyJr￿S. Bu￿ry Pollcy The school provides grants to boys in the farm of burs￿0$. The school advèrti888 these on the website and provides inft)rmotion to apptying parents. This Support is avaiL•ble on a ngods basts as d¢tenninod by the Bursar and approved by tho Finance and Capital As8•ts Commrtta8. Wa also provide pkes to trws. who are chiklren of staff. at reduced fees. The sch(K4 uses an outside company, Burnary AdmiN$tratbon Ltd, lo he revl8w arKI 888088 th¢ ftnancfrat n¢ed8 of ils appli￿nts. INDICATORS. hlLESTONES AND MEA8UREMENT8 The prin¢lpal be￿hmark for xademic 8ucce88 18 that Ws. pr¥>3re88 to their Sgcondary schwl of choice. Moro broadty, the Governors monitor the qualty ol the schoc4'8 educati¢Thl offering, the range of actlvrti•& Ihal the 8chool offers, and the perforniance achthd. Ext•m41ty, the Khool 1$ •ik*je¢t to inyGtion by the Independont Schools Insp•¢torJle {ISII. Tho schDDI P8888d the ISI roulin8.crynp￿anca In8PgCtK)n' in Octobgr 2016 and reL8ived an Excel￿nt In Pupil'8 Per￿n•1 Devebpment and Gry)d for aL￿lty of Pupils, Academic Ach*vewts in 2019. Thè schoof8 success18 dependent on its financkgl stsbilty. To this end, prirtwl financi•l indicators lorgeted and rnnit￿ed by the G(NemorJ include current and prowliN* pupll numters. annual surplu•. and ca8h. Thé school cwrat68 with 8ever81 local Char￿&8 8nd OTg8nls•tions to rnnfor￿ in the boys •n awareno88 01 the soel81 conte￿ of the educ8t*)n that they re¢eNe •t Rokoby, and lo make best use of f8¢ilrtw the sclwl has. The senior managwn•nl and the Board the charitable activstl88 of $cPh￿l. ACHIEVEMENTS AND PERFORAIANCE The 202￿21St1￿1 yèar was dwllenging f(Y Rok•by. l*e au oth•r •d￿t￿TraI •stsblishments. The 8chool reopened with considerr*Jle restrictions imwsed by Iho Department for Educali)n in Autumn 2020, du910 tho ongoing pand￿1¢. Pupils were taught in separate year groups including for Games and this curtai18d many inlr&school events such as House Competition$ and c*bration 8ssemblieg or ch(xr¥ and the annual CareA Service. However, where possiblg these we carried out onl'ne wilhin 8CtK)ol wth boys attending live, even rf $8parately. Inter-scho(A sports fixlures w8r8 rosum8d as soon as p)Ssib￿. Deswte the diffthf< envimnment, ltte $choc4 staff rose to the chaI￿n98 presented by the past year. The school doveiopgd a full online educational offeriry so that children w•r• *ways able to fvlty access their Curriculum whether in sthool, in l(Kkdctwn or in temporary i8olati(x*. Tho sthool rnana￿d to romain akTW)St fulty oporaticnal through the of the ALrtumn Temi wrth onty one year group having to isol8t8 in th8 final woek of tenn. Ttw were educated at h¢yne via the reffK)te leaming platfomi. This was a considwable a¢h￿•m￿￿ due to the incre￿Ing rise in Covk>19 ca¥05 and local h¥h leval (rier 31 restrictions. ROKE8Y EDUCATIONAL TRUST LIMrrED IA Company Lknlt•d by Gu*rnntw) GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 The sthool was ¢Jnable lo reopen in January 2021 du8 lo a natK)nal lockd(ywn. The Schoof swrtched *8 OF4r*ion$ to the remL*e ￿arnIng plalform and managed to offer INe lesson8 to the chihjrèn. in an ag appropn'ate fom)at, for the entire temi. Tho Scho￿ thèn re0￿ed for the Suffffner Terni atthough with restrictions $lill in place wh￿h prevented year gmups ￿￿Ing. Wrth all of this in mind, th6 sehoc4 8chi8ved its usual lexhing and leamlng. a$ well 88 pupil development. 'ect)ve8 and was abre lo offer events through￿¢ the Summer Tem, including some which parents could attend. Thè boys were able lo enjoy resid9n1i￿ Iiips lo Slratrc*d and Ihe South Coast and Bushcraft trrps. wdl 4¥ 8 range ol day trips (for example, a Yw 7 FKikl Trip lo th• Otympic Path). Tho 8chwl also ran both of its Sports Days, wth parents #i attendarKe. Morale w88 good b4￿USt boy¥ had •r4oyed a •nd trj the f￿ad&m￿ year in Summer 2021 even th¢)Ugh il hadnl been possible to dl evenlg and mvite parents. e$pKialty for ￿8Ver$. The school also ontinued to offer a 8L¥nmgr ¢￿P opts'on to afi chrfdren. wip was offered for the first timo after the flrsl Ic¢kd¢)wn lo h¥lp gw the Childr￿ a chance to socialEe and enjoy physicd xtrvilie8. The camp wa5 ¢)fter•d again ￿ Summer 2021 and w40 a f8nts$lk 8LKC•SS in of b)th enrolment and feedw from the childr•n. The 8thool rece￿￿ a gr•at deal ofvocal and wiitten sur4)ort from paronts who wwè lryresoed wlth the offering Ihioughout lockdown and over the whob yw. The ¥chrx+l fc¢u8ed on the pastoral ￿re of the rhildren during lockdown, wlih successful progranmes such as the Emob'onal Literacy s￿port As8iStanl programme continuinp online to •n8ur¢ ch*lr•n had $clv)ol support. Schol*rnhlp and Ac•d•fflk¥: The school contlnued its tradition of sgndir¥J Yoar 8 ard 80Th Year 6 boys lo 8 wide range of Sen￿￿ s¢hoolJ in the south wesl, including Epyom, Elon, King's College School, Raed'8. arrtj SL Paul'8. Evjhl Year 8 boy8 981￿d 8choLgr8hip8 to thdr etrth•n school. u did Year e bw. The Scho￿ award8 boys who have &hi8ved ¥ hyh levd of ￿h￿nt in an ac•lem￿ subS•ct 4r•a by way of Internal SchoLqrshlp8. This year 15 boys gained Pa86 to ￿'StinctIon Leval. Th& ACE awards are for the Arts and Sports and 12 boy8 receNed awards last year. Th? Rokety Boys. Club fina￿lIty contributes lo th¢ ACE 8w8rd prE88 to ¥upport W8 pursufft Of1￿1r indNwJud ol •xc•llgnce. The sch￿1 particpated in th& Junior Math6 and Primwy Maths Challw la8t yoar and 27 boy8 thanced to the next round. A Year 6 boy was sekn*od from 15,000 n8tfv?nwide appkants a$ a poètry winner in Ihe 'Peculw Pets, wnb.ng Coryetrt￿n. Art•: The 8chcol hdd a Crea￿ve ShtrKase for al boys from YearJ 3 to 8 in their cho￿1 Brea (Art, Drama, Da8wn oi Music) all of which wa8 ¢ollaled, presented, perfomied. and wl on Firefy, the $cPts)ol'$ VirtLral Leaming Environrr*nt. Ail boys in Year 8 wgrg awarded their Bronze Ajts Award by the Arts Council. The school conductsd the Rowe Cup. its annual MUSK comFetsbon. in an online fashion, wf(h boys performing live in clas8 concfjrts and the adjudicators wthved the perfomxrs ext8maUy. Yoar 8 man•3ed a live produclion wrth ¥)ecially composed live music to a soeialty distsnc•d audie1￿8. Year 2 and 3 also managed Iwe pgrfofmance$ oftheir play, Drngon Days. There were su¢cessfvl munds of ABRSM exanB held in school wrflh a 1￿% pass rate. Five music scholar5hps to Senior SC￿01$ V•we ￿arded last year ￿th a modffied (online) plicalNJn, audition. and interviw PT(Koss. Ihxe than 100 between Year 2 Year 8 took and pas3•d LAMDA 8xams last ygar. ROKEBY EDUCATIONAL TRUST UMITED IA Comp•ny Lknlted by Gu*rnnt•e) GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Communlty and Chathy: The schcol continued rts invofvement in the community and helped 8UPPOrt a number of other charities. Many of the typical ways of being invdved were curtailed in 2LY21N21 due to the pandern￿. bul during the year the boy8 and the School w•m invo14*d in &lr*it*s kxluding.. Focd d(￿atiOnS lo KiThJston F&)dbank Reception created 8po8d awareness poslert that were displayed on George R¢)& Lower SGhwl boys became pen pa18 and wrote Christmas cards to residents in care hom8$ House Chanty {Rainb(xv Trust} tctsl ￿god £1681 RPC Mufti Day Ipsosi total raised £520 Christmas HomFers and toibtries for SIV￿1 clonts in New Malden IQn9st￿ FocJl aho klan8 to capitalize on the cptions fof parental commun￿*￿￿ and CAthach cllered by virtual plattomis •rNI to contlnu• to lake 8dvantsge of som of the fi6￿bility that vrrtual lèaming and communication offer8. Improvfng tho schoofs tr8n8POrtatlon plan wlll also be a major focus for the 2021>21 school y68r. The School continues to look lor ways lo decrease its ènvironmentd and traff￿ through creative solutions lo an$ur8 fewer students travel to School in sirwj￿ carl￿rr￿S. The schwl ￿￿tinUeS to asse88 and dev•lop its phy$ical infrastructure and needs to ensure rt provhles a modern 8ducath)nal enwIL￿mènL The Board added Nvo new board m8mter9 in 202￿21 and continues it8 robust overnb3ht Of￿ ￿h0O1. Evaluatv￿ and Improvements to g¢)vernance are p*i of the schrol's strategic plan. The school conllnues to wepare for any future d1$rW￿$ to th8 school year due lo continued impact from Cwd-19. The SLT and goverrnrs h8ve strong s*iuarf8 and rct¢u$t ovorsighl practices in place to ensure the $c1K￿l can deal wlh p)tontial firture intemYti￿. ROKEBY EDUCATIONAL TRUST UMITED IA Company LknIt￿ by Guarant••) GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 FINANCIAL REVIEW Flnancial R•sulls of A¢tl¥ltles •nd Events The financial re6u#s f(Y the yoar 2020r21 SIKW a s￿￿luS of£607.643 {2019f20". £257.7821. C¥ltal èxpenditure incurrul in 2020f21 amourrted to £e8,418 (2019r20.' £211.8731. Cash balance8 at the of tho yo8r w•r• £5.406,311131 Augu812020'. £4,618,589). The school has kept a careful watch on t￿ impact from Brextt and from Covwj 19. Although both of tlw have had ￿ impact on the 8clthl, thè S￿￿￿,$ careful fiscal marwenl, strong cash posith)n. hoatthy pupil number8 and robu¥l recruitrnent numbors meant the Govermrs are Con[￿ent the ￿h0o1 ￿11 have suffic￿nt rosources to operate 8￿CeSSfulty and in firture yearn. The Govemorn make use of fv folkywing key pQrfryTh￿n¢e indlcalorn when we88ing th8 operatlng 8ucce8s of Company.. FnancHI'. Annualsurplus The wnual 8urphJs as a Po￿8 of Incm on 8 ffjllkng &year ba811 h to ￿ S% or Cash Th8 mlnhThim bal•n¢e at •1 •quals 5% of b￿ted income plu$ tho K)unt of contractualty committed wital expend#ur• Pupll numbern Pupil number8 to ex¢eed throughout the year Potential antrns Formal applKatsons to exce•a 151YA cd avalth immwjlatety priot to the ball¢X Non-flnanclal.. Boys Boys achwe enty to a Sen￿ school vthi¢h #￿ted to hi$ abilit￿6. Interests. person81ty ￿ n¢ods ISI Inspect All 8rea8 meet ¢(xnplwn¢o rnquThnent8 in the Regulatory Coffpli•nce Insp￿tIOn1j The Govem¢)fs are 8atisf*d ￿￿th the finarti•l ￿rforrnan￿ of the Cixnpany ¥atrJfied that its financial P95rtK)n at the year-end will 8nabl8 fvturg stratagic pkns lo be achieved. ROKEBY EDUCATIONAL TRUST UMrrED (A Company Limilod by Gu•rnnt••l GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Grant Maklng The Company provKled scholar8hip8. burswm, and di8counts to 11 pu￿￿12015r2o'. 16) amounting to £108.75912019r20.' £144,206). Net income from the reslricled Scholatship Fund totaw £6,49812019r20.. £7.0751 and net galn$ on inv¢stments of £32.151 {2019r20.' £11.834 bssesl. I fundraising is dom in c1￿￿)11ance with the best lundraising prxtU6. Fundraising folows tradith)nal mglhod5 such a¥ mufti days, coko salg8 and aclNitigs for the boys. The governors are not aware of complaints made respecting fundr￿81n9 in thé past year. Rmer¥￿ Pollcy Th• Govemor¥' polw 1810 generatg reserves to Fwvide funds to underpln tho School's day404Jay opgrats'ons and lo continue to enhan￿ the educath?nal facilit*s and 8erMC•S of the School and to fund future proi8ct8. Tho minimum resorves required 8re based on a minirnum cash balance at all times eguol to 5% of budgeted incom• plus the amount of conlraclualty wiilal expeTrJiture. reseNa$ ne￿$$ary lo meet Ih•M needs comprise the General Fund. Al tho bal8n¢o 8hget date, Company rtt1rh￿8d lurth of£296,838131 Augu8t 2f20'. £258,189) and unrestricted funds crf £9.247,869131 Augu￿ 2020.. £8,678,875) lotslling £9,544,707131 August 2020: £8.937.0641. Fm re80rv•8 wera £4,091,076 (31 August 2020.. £3,597.0331. In 2015, to mark the frfti•th annNernary of Rokeby'8 rtrfoundiThJ, the Gtrrfemors d•dd•d lo tran$tsT scthe reservo8 from the General Fund to the Fifknath AnnNerS￿ FurAI. The Frftieth Anniversary Fund 1$ u$od to provid• bur￿rn3 and other fomis of specffic financial auistance to students. The amount lo b• transferT•d exh year 1$ based on the anounl of 4nlKipated surplus. During 2020- 21, thg governors thided not lo transfer m(Yw due to the conllnuing poten￿ futurg impact of Covtd 19. In addition to these unreslrid•d funds. the sch(x)I ha¥1*v Restricted Funds ar588 from donatlon$ made to the $ch¢)ol Ond whbGh aro dosognated for 8pecifK purposes.. Ihe Bursary FuTrJ. and the Scholarship Fund Inv••kn•nts Pollcy The Gov¢mors' inv8slment PlYll8TS are sel OLrt in the C(xnpany's Memorandum of Association. This pem)ft$ 8urplus funds to be invested in irwgslTh*nts, 8￿UntieS or property as may bo Ihwghl rrt subject lo any rg$triction$ which May for tine being may be imposed or requ*ed by lav. The Company'8 polky 1$ to invest surplus fvTrJs in cgsh and Jhort-temi deposts exc•pt for the Scholgrshlp Fund which 1$ invested in shares and other 8ecurili88 to achieve a baiance of wital grvmh and incoff*. Because the fund is small in invgstmwt lemis. the cost of usiTrJ professic￿l advice lo manage this fund woukl OLthigh likety retums from the fvnd, so the Govemors manage the investments dir￿1￿ uslng ts¥o Common Investment Funds ICIFS). which *e inveslrnent swnblarto unl trusts but wailgble to chaiitig5. For the year ended 31 August 2021, the C1)rryan￿$ restn.cted investments p)rtfolK) rose in value by 19.7 % 12019f20: 6.7% drop in value) and generated an average income retum of 3.3 %12019r20'. 4.0%}. ROKEBY EDUCATIONAL TRUST LNITED (A Comp•ny Linitsd by Gu•rnntts GOVERNORS. REPORT FOR THE YEAR ENDED 31 ALIGUST 2021 For the year end&J 31 August 2021. the Company's cash balances generat8d an average income return of 0.4%12019120= 0.4%>. Ea¢h y•ar FinarKe and Caprtd A$￿ts C(xnmitt•• d￿•M11n0 h¢W the fvnd¥ will be deployed. w7d in particular the use of Fiftieth AnnNersary Fund and tha Reslri¢led Funds,. and as regards the Schc4aTship Fund is Ihe onty invested fund),. the proportion of t￿ portf￿10 hebj as cash and tro proportM)n that Is inv88led.. whether any cash ir)wr* from inveslments slv)ukl be held as anticipalk?n of future Spending. or be reinvestsd.. and thg inveslment ptharKe ofthfr CIF or CIFS being ￿ed. and whther to 8w4) into difforont CIFS. Funds H•ld Ay Cu•todlan Ahhough tho Crxnpany malrrtain rnslricted funds to d•al with Inccfne that 1$ •amiarkod for a particuL•r purpo8e by donors, swnsors, and other fuThJers. the Ccmpany d￿$ not hold, •nd tho Gov8moTS do not anllclpale that it will in the ftrtur• hold. any fund$ •# ¢ustrxli•n for any th￿d pwty. Rl•k Manag•m•nl and CofPOrnt• Governance I Thé Govemorn asws¢d th¢ m•iof fisk# to wlN¢h the S¢hool li expo8•J. in partKular th080 relatino to the ¢)P?rntK*n$ and finances of the schrd arKI are satisfied th080 8y$lems are In place to manage exposure lo thos8 major dsks within xceplabkn limifs. The schod'$ rlsk$ are documonled in a Rlsk Register which regularly reviewed by the Finance and Capital AsG•¢s Committee and updated accordingty. Risks are fvrth•r controlled through the over8ighl of the various Board c¢xnMrtt4￿s. A riBk assessmènt 1$ camgd out annualty by tho Bur88r, drawing on input from th8 He&Jmaster and othèr manbèrn of slaff as apprcpriate. This risk a88e8sm8nl Is r￿tr￿•d by t￿ Fi￿n¢4 and Capit81 Aswts Commrttee. ￿th particular regard to the operation$ gnd finanGe$ of the Company. The Finance and Capital Assets C(xnmittee 8180 con8iderg whether systèms are in place to manage exp08ure to ri8k8. The risk a8888sffont h approvthJ by the Board. The Govwnorn. overal attrtud• to rtsk 18 pnhlent and ca￿t￿rt￿ in acetsrd•￿ with th• Govwnorn, dutie8. The cuirent financial and politKal cllmate has ral8ed a number of issues that the G￿rnT& are monitoring. Tt possibilty of VAT on tuition feel or the wilhdr•Nal of bu8iness rntss rel￿( for widependent 8chool8 ram8ins a risk the Sctthl M ck)sety m￿ltoring. The JclKxf managed to weather the last increas• to the mandal•d employer contributions to thè Teacherfs Pension Scheme but futur8 I￿rease$ remain onother threat. The upheaval lo frnd suppty. IrènsFQrt. and shipping and other future Knpacls from Brextt and oth•r poltti'cal decisions all being rronitored. Governors also continu? to revw the impacts of ￿ Covid 19 crtg18 on I schcol. The Govemors designated the Fin8nce and Capital Assets Ccynmittee as the Covid 19 Crtsis re8pon88 leam. The Govemors continue lo work towards goluthw￿ lo financi•fy rT¥bgats and plan tr thes8 impacts whlle being mindful of financkql pressures on parents. ROKEBY EDUCATKINAL TRLIST UMITED (A Company Lknlted by Guaran¢••) GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 The key ri8k areas Klentsfied by the GoverrAx8. to wh￿h Ilw bdieve ￿ actr￿ is eXp￿ed, and the responsibllity for ¢)¥er8￿ht. mrtyatth ofthe ￿rI)1'S exposwe to th88e risks are as lollthvs.. Key rlsk areas and o¥er8wJht CommtieM.' AttractlNJ and retsining high qualty ststr. Identfying staffing needs and training quality staff - Education *Kf Stsffing Commrttee. Regularly revi￿ bènchmark data to ensure that it8 ramunaration policy, pay scales and benefrts packaggs are 4)Propr￿te to recruit. tr&"n and retain high qualrty st¥ff. Ensuring pupil intake is maintained successfulty and apprcpriatety- strateg￿ Development and Finance and Caprtal Assets cc1nrn￿Qe. Track and report almisslons dala and f¢XU8 on meetlng and exceeding parwrt¥l expectst￿n$. Su3laining revenue IhroughrArt the eco1￿￿ ¢yde', and managing ihe kngrlticat And fiMncial challewes of the CovRI-19 cnsis- Finpnce aThJ C8pitsl As9ets Commtttee and Goveming Body. En8ur• that appropri81e and tintity d8ta and repprt¥ are Provid￿j lo facilitate inlomied decision-makw. CtJmpl1an￿ with appli￿11& Regulations 8nd LegL8lation- tyerning Body. Appointm8nl ol de8ign8ted officers and ge)verr￿f$ with lead responsibilit￿. ActNe n￿b￿r$hiP of Independent 8¢hool 0$$￿￿tIOnS and networks. External professionals ar8 cortsulted as appropriate. Changing demoprnphics, educalional and pofiical Lqndscope- Govgming Body. Monrtor thè poJ8ible challenges and plan. iknre pc6s*>1o. for such aventualitw. Lon9 lenn 8tr•togiG plan that ¢onJidern various oplthi. Managing and OV•f8eeing the School's deveiopmont- StrategK Dev•lcpmonl Commrttee. Con$Kler the current challenges and oppthlunitieg and plan a¢cordingty through 8 3 year dev•bpmenL ProfM•loMI Ind•mnSty In•ur•nc• The Company has taken out a comtsned in8uranc8 pc4ty that Includ￿ buiklwig8 and Cont￿1$ insurance. ery)loyer'8 liabS1ity insurance and profe8skA)81 Indemnty insurance cover for the Govèmor8 lind staff of the Company. The premium lor prole$$K•nal indémnty insurance paid by the Company in re5pKI of thly elem?nt ol the insur8nc• poI￿Y w•$ £1,583 tr the y•w •rKling 31 March 20221thè C(xnpary pokl a premium of£1,506 for tha year ended 31 March 2021). The Governors continu& to plan slralegicaly futur• of the School through a pwr8mme of investment. revwi. and 83S8gsThnt. The dèveltym￿I pbn pr(Mdes a Structur￿ plan for the firtura t•thh targèts, time Irames dnd opportunit￿$ for rev￿ •rvJ assessment. Prtsjrèss against the thVeI¢¥￿nt plan 1$ reviwwed regularty. GO￿[nOT3 and the SLT annuamy for an extended d￿￿$$￿)n on Fxc¥res$ and fvture $lMt¥giG na8d8. STRUCTUR¢ GOVERNANCE AND MANAGEMEKr and Hlstory The Coryjany IB a rogi5terod charity WKI a company limited ty guarantoe. Th)t having share The principal ￿h¥itY ofthe Company is to run Rokety. • doy school fty ag•d 413. Rokeby was Original￿ an ownerwrat•J schwl in lifjmbledon Ihal was ftyjnded in 1877 and cloW in 1966. Rokeby Educational Trust Limited was set ￿ in ￿ same year to eslabli3h a successor schotsl on the current stte. It wa$ incorporated on 25 February 1966 bec&7)e a regi8tered C￿lty on 16 March 1966. Company 1$ govemed by the rules and wUlatKy￿ Set Its MenMThdum and Artith8 01 A88ocialion ongin81ty dated 25 Feb￿￿ry 1W and srthd•d on 22 January 2C￿ arml 28 January 2021. io ROKEBY EDUCATIONAL TRUST uMrrED IA Cornp•ny Limit•d by Guarantee) GOVERNORS. REpoirf FOR THE YEAR ENDED 31 AUGUST 2021 Org•nl*•llon•l Stru¢tyr• The Governors have reSponsi￿'1ty for the overall management and Organisat￿)n of the Schod, setting and monrtonng the overall strategic directi¢)n of th8 Company,. approving deci$wJns reseThed lo Governors (prindpalty approval ol experidrture boywd agreed limrtsl,. and appointing key members of staff IHeadm88ter. Deputy Head and 8urn8r). The Govemors meet as 8 Board fve or six limès each yfAr. The Govemors are supportod in carrying out theor responsibilities by variou8 Board Committ￿8 irtludlng th8 Financo and Capital A88et$ COMMItt￿, tho Education and Staffing Ci)mmittèè arKI the strateg￿ Devek)pmenl CLYnmrttee. Board committ88$ nomal meet three or Iour limes e￿h year to consvJ8r detailgd rnattern and rncommènd d￿lSionS lo the Board. Financ? and Caprt81 As*t¥, deah wilh financial. propety and IT matters., Education and Staffing, deals ￿th cuuiculum and personnel issues.. and Strategic Development. d￿1$ wrth bng range plannin9. Additionalty, hoc group8 of Govemor8 Are e8t8b&$h¢d lo ¢on$id¢r 8p•¢thG and m&ke r•crnndatbn$ to th• Board. The day lo day running of the S¢hts)l * del•gal•d to H••Jmast•r. th Buwr taka6 partlculgr rnsponiibility for th¢ nOr￿ad￿l￿ upects. Thè Haadma81er is r￿pOnSIble for ￿￿blishIng the SLT, incI￿ling the Deputy He*J8 and the Burner. SLT overs888 the 18aching and pastornl care of b)y8 in tho •ch¢)d. M•thod of R•crultm•nL Appolnlm•nL Electk•n, Inductlon and Tr•lnln8 of Gov•rnor• The Govemor¥ rfjgularty revithy the mix of skils that shoukl be a¥￿lable to tho Board. GovorMr8 8r• Ih•n So￿h1 wlth thw• skllls, •6th•r •$ *ldrtthal Gov•morn or aj replacerrthts when exiltirq GthiorrK*rn #tand down. On appolnlment new G0￿mOr1 are indwt¢d into thè working ofthe schwl and of the Conyany as registered Gharty. GoverThJrs receive an indu¢tk)n pKk which include infcmation about the School and School polici85. New Govafnors are appointed to the Board by ex￿ling G￿eMOr$ to hold offKe until the dale of the next AnTru￿ General PleetiThJ. at wh￿h time they we elig*>le for by the mem￿r$ for pertod of three years. At the ond of a threèvyear temi. Governors wo eligibi8 for rfr8lection for a furthgr ThroughoLrt their leTm in office, indNKlual GoV￿c￿8 can attend Irainlng coum$ and conferences orgarised ty •ppropriat8 bodi￿ siKh 86 IAPS AGBIS (the A$wC￿I￿ cl Goveming Bcrflies of Indepa)dent School8}. Arrnngements for Settlng Pay and R•mun•ratlon of Key Monagem•nl P•rsonn•l Thg Govemors are not remuneraled their rolo. Tho Govemcrt dir• awoint two key M￿berS tx st•ff. the Headmagter. arKI the Bursw. For the Headmaster. there is a s*ry scale that was established on his apwnlment This was sel by comparison w*h market rates and on adv￿ frtyn an extemal ￿nS[￿nI WKI was approved by the Board. Thi$ scale is revtewed annually and 9eneralty changes in line wrth charg8S to n*ional teacher pay. The Headmaster has reached the top point on thi5 sc*. Addit￿nalty. the Headmaster is eligible for an annual performancewrelated bonu8 that rdates lo the achievement of oty'eclives agreed with the Chair aThl Treasurer of Governors. The Headmaslorfs overall remuner0tKn is tho re￿e*ed by cixnpaiison wilh pubhdy svailable Informat￿ cc￿petitor schools. li ROKE8Y EDUCATIONAL TRUST UMITED IA Company Lknlted by Guarant•• GOVERNORS. RepoRT FOR THE YEAR ENDED 31 AUGUST 2021 For the Bursar. thero is a salary scal8 that afons with the Senior Laad8rshlp Team {SLT) Scale (See b8lwl. The 8ur¥ar has reached the lop point on this scale. Tho applicabilty of this scale to the Bur58r i8 revmved by cLryari8on wth publicty avwlablo Informati￿ for 8lmil•r roltsl in svNlar schoDI8. Sa18ri8s of thg Headmaster and Ihe Bursar we and apprtyled annualty by the Chair and Treg$ur•r. The authorty to appoint other membèrs af the SLT with Headmgsler. T￿re is a Salary scale for SLT members, which L8 ba8&I on govèrnment poy scales for teachers in le&knhp rokns. The Headmaster has tho uthority lo make new apwntmonts at an apprcpriate wnl on the sca￿. Individu￿ salaries are then reviowed by th8 H8admasl8r bionnialty and any changes ar8 made in line ￿th the indiv￿U81,8 Increased experN?nca and performance., these changes are revthvthl by iwo Govemor5. The Board approve6 annualty any change8 to the salary scale. which aro usualty in line wrth Chan￿ to national leachar pay. R•l•tlon•hlp wlth R•lal•d Pwil No GOVWr￿r allowed to receN8 any rwnun•rat*)n for provid•d as a Govemor. Th• Board ha8 addrtion41ty aweed a poNcy whweby no Govemor may provth 8eThKe8 in a profeSs￿nI1 wcty lo the school. Those Govern￿$, who are aho parnnls ol boys al school. havo a financial Telationship with tho School on ltte ￿10 basis as any cther parent Governorn, R8•pon￿bIlItI￿ In th• Pr•p4r•tk)n of Flnanclal Sthtem•nts The Govemors {who are the tnjstees and direclorn Of1￿ CcAnpany for tho purpose¥ of chadty and company lthvl are responsib￿ for preparing the Gov6rrth8' Annual Réport ond the financial statements in accordance wlth appllcable I￿ and regulatth$. Compary law r4uires the Gove￿1$ to wepare financial statoments tr •&h finan¢lal year. Thè Governor8 have prepareil the financkql statements in xc4xdance 7Mth United Kingdom G￿Or•Ity Acceptsd ACc￿ntIng Praclrce (Uniled Kingdom Accounting Standwds and apPh"C￿le W). Undw company Iw, the G(Nemors must be Sat￿fied that tho financlal 61atenxnl8 for èaeh year a true 4nd fair view ol tho state of affairs of the Compwby and of the incomé and experKlilure of the Company for that In preparing th088 finar￿181 statements. tho Govtrnorn are r•quwed to.. Select suitable 8ttounting poI￿Ve3 and then t1￿1 C￿¥15t8n￿. observe the methods and princry>les in tho Chaiitws SORP", make judgemants 8nd a¢￿untIng eslimates Ihal are rpascffiabl8 arml prudènL State whether aPpI￿a￿e UK Accounhng StarKlaTd5 have ba8n fokned. si￿1￿1 to ary malerlal departures disclosed arnj eyplairod in the financial statements., and prepare the financll81 statements i)n a ￿'ng conc4m bas￿ unles8 it IB in4)prowate to presume that the Complny will rnnlinue in busi￿$3. The Governors are responsible for keeping ado4uate xciwnttng rgwrds that di8thse with reasonable •ccur8cy at any time the financial posrtion of the C(ryany and en*Jle them lo gnsure that the fina￿la1 $tatements eompty wrth Comp8n*s Act 20C6. They are *0 respmible for safaguarding the 888ets of the C(Ynpany and for tskirw ￿a$l￿b￿ steps for the prevention and det￿tK)n of fraud and other irregulanties. ROKEBY EDUCAnoNAL TRUST LIMrrED IA Comp*ny Llmit•d by Gu•rantse) GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 The G¢)vemor& are rosp)nsible for the maintefianee and integnty of ￿ cNpor*e and financial irrfonnation included on the C¢ynpany'8 website. Legi8lalK•n in Ihe United Kirvjdcm govemirvd th• Preparation and di88emlnation ol ffnanclal statements may differfrom thg *iel*ion in otherjuri8dicth)ni. financial ststdnenl$ have been prepared in accord&nce accounting jet out in notes to the financial stalen￿nIS and comply with the Company's goveming documnt. th8 Charrties Act 2011. the Companies Ad 2006 and Accounting Reporting by Charthes." Statement of Recommonded Practice aPPl￿bI8 to charities prep81ing their accounts in ￿COrdanCe Financi•l Rewting Standard applicable in the UK and Republic of Ireland IFRS 1021 ORT FOR THE YEAR ENDED 31 AUGUST 2021 The Govemors have made the fOlb￿lng professional apwntrnents.. Sdicitors." GBH Law LLP. Oak H(yJs•, Tanshire Park. Shackleford Road. Etst¢*J. Surrey GU8 6LB Farrer & Co LLP. 66 knrwln's Inn Fiekls, LOnth￿ VKZ4 3LH Robb*)8 LLP, Th8 Ofknl. Sydènh8m Road. GuiWord, Surroy GU13SR AudRor. Htysma(antyre LLP, 10 Queen Street Place, London EC4R 1AG Banker. HSBC pk. 54 Clameè Strrt Kryslon upm Thgmes. Surrty Kf1 1NS The folb*ry key s•nK)r Mom￿15 of¥taff ar• reS￿r￿ible for ts day404ay m8na9om8nl of the Khool: JRPeck H•adma8ter of Rd(eby Sth(¥ol G And*T￿N tkputy H•xl Academ￿ (¥poinl•d 15 April 2021> D Roblns¢)n Deputy H•wJ Pastoral lappolnted 01 Septen*er 2021) M C R LM8on Bur8ar, Clth* to tho 8o#fd of Gry4wnor8 aThJ Ccffipany Socrntwy 8 Dxembar 21r21 and w88 8h3ned for and on This report was apwoved by bo*d of Go¥ernor6 on ....... behalf of the board by D A DavKIg 177.......... ......... .. 2(r21 14 ROKEBY EDUCATIONAL TRUST LIMrrED IA Company Limit•d by Guararrt••) AUDITORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Oplnlon We have 8udit8d th8 financiat ststements of Rokeby Educational Tntsl Limited for thg year ended 31 Augu8t 2021 whkh cc4nprise the Statements of Fin8rtial Acbvrties, the Balanco sheet, the Cash fkjw Statement and note8 lo the fm$nci&l statements. including a summ8ry of slgnfficant accounting policies. The financi81 reporting fr8m8work that has been wlied in Iheif preparation 18 appI￿abl0 lthv and Unrted Kingdom Accounting Standards, including Financia Reporting Standard 102 The Fin8ncial Roporting Sl8ndard aPty￿&ble in the UK and RepublK of Irgland (Unrted Kingdom Ger*8ralty Acc•pted Aetounb'ng Practi¢èl. In our opink)n, the financial stslements.. give a twe and fair of st#e ol the charilabk cryr)y'8 affairs as at 31 Augu8t 2021 of the charitabfe company's net moveArnrf in furth. including the income and expenditur8. for the yeaf th•n ended., have b￿n prop*try propar•d in •ccryd8nce with Unit•d lQrwdixn Generally Accept&J Accounting Prnclio., and have been prepar•d In accordanc6 wtth fv roqukemonts ofthe Cryni85 Act 2CQ8. for oplnlon We wnducled our audrt in accordancewith Internat￿al Standarth on Audrting {UK) IISAS IUKI) ￿ applicJbS• 18w. Our raspons￿lI￿leS UnderI￿e standards are furthor de•cribed in thg Auditorfs re$w}n8￿11rfIe$ for the audrt of the financial statements 8ectth of our réport. We ￿ ndependent of the charty in accord•rKe with the ethical requiiements that are relèvant lo our audit of the finarrial stalamfjnts in the UK, including the FRC'S ElhKal standard, ar￿ wè have fulfill￿ our tst￿r elhtsl re&p￿sItYIrtIOts in accordanco with these requireménts. We believe that the audit evidence we have obtairnd is sufrjent and appropriatè lo Prov￿￿8 a basis fpr our opinlon. Conclu•lon• rnladng to golng COn￿rn In auditing the financial 81atements, we have conclud•d that th• truJtees' use of golNJ concam ba81$ of accounts'ng in tho pr•porolk)n of tho finarKwl st•t•monts b8 appropnat Basthj on thè WO￿ ￿ have perfornied, we hov• not idenlrf*d any material uncertaintie8 relatin9 to events or onditlons that, indivKluatty or colknliN*ty. may cast 8vjn1fK￿t doubt on tho charitablo company's ablllty to continue 88 8 gc4ng concem for a perk)d of at lea81 twefve months from whèn the ffin•nc￿I $tatemgnls aro authorised issua. Our respon5ibilrt1￿ and the re￿￿￿111185 of the InF8t￿l *fth respect 10 going cowrn ar8 des¢riW in the relevant s8clion8 of this rwrt. Oth•r lftforn)•tlon The Iruslee8 are respon8￿10 for th8 olher ftifcrfmthn. Thè other inf(wmatM comprises the inft>miatlon included In the Truglees, Annual Report. Our opinion on th¢ financial statements does not ￿Ver the other infomalion and, except to the 8xt•nt otheThwse explicty ¥t*ed in our report. we do not expres$ any form of assuranco concluS￿)n Ihereon. In conneclion with wr audit of the ffinarLh?I ststements. our respJn5ibilty 15 to the other inforni￿on and, in doing 80. ConS￿er whether the other information is malerialty inconsistent wbth the finartial statements 01 our kn¢￿￿dge Obtain￿ in the audrt ty olher*ryse appears to ￿ matenatly mtsstatsd. If we Jd8nlty such malerlal In￿n$￿￿ten¢￿& or apparent mgterkql m1sslaterr￿ts, we are required to detemiine whether there is a material misstatgmenl in th8 financial 8tstements or a material misstatement of the other Infomiation. If, based on the work we have p9rfomied, Y￿ corKlude that Ihere is a material misslatemenl of this other Infomiation, we required lo report that fact. We have nothing to rwt in regwd. 15 ROKEBY EDUCATIONAL TRLIST LIMITED (A Comp•ny Linit•d by Guar4nt••) AUI)rroRS' REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Oplnlons on other matters prescrlbeql by the Ct)mpanl•s Act 2006 In our cpinion, baséd the work undertaken in the course of audit". the information grven in the Tru5tees' Annual Rep(xt (which include8 the strategic rewt and the directcn, report prepared for the purposes of company lawl for the financkgl wrlorwhich thefinancial statèments ar• prepared is eonsislent with the fffwiciat statements,. arKI the strategic report and the diroctors. report irKludod within the TnL4tees' Annual ReKXJt hm been prepared in xcord•nce wbth applicable legal rewirements. Mattgrs on whlch we arn r•qulMd to r•port by •x¢•pilon In tho light of the knth￿edge and urKler8landing of charitaNe cOMp￿Y and rt8 •nvror*ngnt cbt8in6d in the course of the a￿all, we have ncrt identifi8d material misstatement8 in th8 Tru8tee8' Annual Report (which incorporates tho slrat8gic report arKI the dir•ctors' reporti. We have nothing to repC￿ in res￿1 Oft￿ folbwing mattors In relatwi to *thkh the C¢mpanl¢$ Act 2006 requlre8 us to report lo you rf. in our opIn￿n.. equaté accounting records have not been kept by the Gharit8bl• company.. or the charilabkn cttrwny finanwl statements aro not in a9r•emènt with tho accounllng record• and returns,. or certain disclosures of trustees. reMur￿41￿n specrfied by Iw4V are not m•Je,' or we have not received 4N the inforMat￿n ond expL4nats'ans we require for audit R•8ponslbllltl•g of tru8t••s lor th• ftnanclal stat•m•nts As explained more fvlty in the Iruste•s' respon8ibilities 8tatem•nt sot out on poge 12, th trust￿ (who are 8180 the dlrèctor8 of the charitab￿ ccrfnpany for thè Purpos￿ of eompany aTO responsib19 for tho preparntton of the financial 3talem•nts 8nd for beiNJ Sall$f￿ th* gNe a In￿ and fair wthv. arKI foi such inlornal contrd 18 the Iiusloes determine Ss nec8888ry lo en•bkn the pr•parJ￿n of finarK4al Ststemenls tw are free from m•tersal mis$tslemenl, whethor to frnud ￿ orror. In preparing the financ￿1 8tst¢menls. INstees are responsible for assossing the ¢h*rt8ble compony's abilty lo continue 88 a going concem, disckxing. as 8ppluble. matters related lo wng concem using the going concern basis of accountlng Un￿5$ the tru$l¢es •ith•r inl•nd to IK4uAlats tht charilabb company or to c¢aue operations, or have no rea116tic ohwnalNe but to do 80. Audltorf• r•sponsiblllilo9 for the audlt of th• financlal st4t•m•nts Our objectives are to obtain r￿Sonab￿ assurance about whether the finonclal statements a8 a whote are free from materkil MI￿￿10m0nl, whe1￿1 due to fraud or error, and to issue an 8udrtorfs report that includes our opinwjn. Reasonable as8iirar￿è is a high 16v81 of as$uran¢8, but is 8 guarantee that an audit conduclgd in accordance wrth ISAS IUKI wiu ahvays dètect a materi* mwtatement when rt exists. Mi8Statements can arise from fraud or error and ar• con¥idor•d material rf, indMduaNy or in the gggregate, they coubj reasonabty be expected lo Influence the e¢onc¥n￿ deci9ions of Us￿3 taken on t1￿ basis of these financial stalwnenls. Irr8gulariti88, i￿luding fraud, are in818rw ef non<mpany law applKable in England and Wales, and we considered the extent to whth non {157.52n CMh flowl from Iln•nclng •cllvlll•8: Repayment of bans from pargnls Movement ￿ d•posrts Irom parents 126.256} 123.1701 (27.500} 41.250 (49.426) 13,750 Ch*ng• In Ga•h and cash •qulval•nts th• r•portlNJ rlod 787,722 358,113 Cash and cash •4uivalents at the btylnnkw d tho TwtiThJ period 4.818.589 4,260.476 C•ah •nd Cmh Equlvahnt• it th• •nd of th• r•portlhg porfod 5,408.311 4,818,589 20 ROKEBY EDUCAlloNAL TRUST UMrrED IA Company Limit•d by Guar•nt••) NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 AUGUST 2021 ACCOUNTING POUCIES 1.1 COMPANY INFORPIATION Rokeby Educ8th)nal Trust knmrted Company) 18 a private ccfflpany Ivnrted by guarantee incorporated in England and Wales. Its registwed office *ldre8s is Coombe Croft. Ro&J. Kingst￿ upon Th￿e$, Surrey Kr2 7PB. T￿ prirvpal xtsvity 18 IJKlosed in the Govemorn, ￿n￿lI reporL 1.2 BASIS OF ACCOUNnNG The88fina￿1al st*menl$ hm been prepared in accordanc8w*h FRS 102'Th8 Fina￿1￿1 Reportlng Standard applKable in tho UK and Republic of Ir6Lgnd. the requir•menl8 of the C¢)mpanies Act 2008 and under the hi$lorul cost conventKJn, excwt a$ Th￿lfi9￿ for tho annual reVa￿allon of fixod as￿1 Inv￿lMent*. Ihithin th• d￿nItIOnS of FRS 102. the Company is a p￿+1￿ ￿nrfrt ?ntty. Th• financial statements also b86n pr•par￿1 in ae¢ord•nce with th8 accounting pollcles i•t out in mre detal belcrrt, to ecthpty with the Crynpany's govwniw document. the Charith?6 Act 2011 and Accounting and Répc*tifyJ by Charit￿$.. Stat•mnt of Recommonded Prxts'ce ¥pltcable to ¢harlli•• preparing their &counl¥ in aG￿rdance wilh the Financial Reportlng Standard applKabh in the UK and Republic of Irdand (FRS 1021 leffectfve 1 January 20191. Thè financiol statemerts have been prepw*J with the adcpt￿Jn of the FRS 102 Trfennial Review 2017 amendments in full. Thls is thè first set of fina￿181 statements where the Tdennkql Reviw amendments have been 8dopl•d. There have been no change8 to amounts presented in r08pect tr8nsaction$ or b8k*nGes in any of the main Stateme1￿ a8 a re8uf( of &Jc%Jlion of th• ¢h8nge8, b(rt c•rtain dk*dosures have been updated ￿ I'r* wth tha requirnmenls. Th• fln•ncial statements are KryJar•d n St¢ilng. IB the fvnctthal currency of tho CrJTrp•ny. Monetary offl￿nts in these financial ¥tatWTwIts arn Yourthd to nearest £1. 1 A GOING CONCERN Th• govemoTs have 898esaed and anaywj a number of f•Gtor• vjcknllng school •nmlment, w5￿ng ILgts, fee remttance raies durin9 ts pgndemic, Gg¥h tknv forecasts and budget projections for t future. All of those factors have grv8n the Gov8mors confxlence that the Company wll be lo continue its &tNities and meets it fina￿la1 liabilrbgs for the fores*able future. On that basis. the Govemors have prepared the Statem￿1$ usirvJ tr* going cryKern b46r&. 21 ROKEBY EDUCATIONAL TRUST LIMITED IA Comp#ny Lknlted by Gu*rantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 ACCOUNTING POUCIES {Conllnu•d) IA INCOME General donah?n8 and oth¢f Simibr ty￿¥ of voluntsry I￿orn8 are ￿0￿h1 inio account whon r8￿tvab￿ and donated I1￿orne is i1￿1￿ gross ol any attributable lax rxDv•rnble. whfn r6lèvanl. Donations given for ￿e¢￿C purposes are treated as restricled irtcrfne. Fees feceivable for tuilh)n, fe6s in of ntitiee. other operating income, ren181 incorn￿, and investment incc4ne are aecounted for ¢)n an accruals basis. Other opèrating income include6 amunl$ chorged for bu8 fareo. regi•tr*ion WKI fe85 aThl in¥trum8ntal hir•. Thè income 1$ r8cognis8d when earned. 1ts EXPENDITURE Expenditure is alhxatod tothe Conyny'8 pri￿￿81 xtivtywhèro ¢￿ts can be Identif￿d as being directly related lo that ￿t￿lty. eostts that be Klentrfjed as relBling diroctty to the Comp4ny' principal actI￿ty are c#tegorixd as either support costs or 9Lwemance costs. Any cost8 Ih8t cann be 8pecrfthlty c8tegorised are alkKated in proportions b88ed upon a Suitablè ratio applicablg 10 1 natu￿ of the cost in¥oP4•d. Bur￿[￿ pay8t4e are reco9niséd in thè period in whKh tho approved offor 18 convèy&g lothe reclplenl •xcept wi those case8 whèrè th6 offer Is eondlbonal. iu¢h bursaries b￿n9 recogni$ed ￿lY when t condrtkins attaching lo the award are fuffill• NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 ACCOUNTING POUCIES {Contlnu•d} 1A TANGIBLE HXED ASSETS All tangible assets purchased that have an expected use￿1 economic lrfe that éxcèeds c**0 year ar8 capitali$ed and classffied as fixed assets. TarvJible fixed assets are 8tstèd al historical tosl ths depraclatic￿. Depre¢￿tion is provKl•d on all tangible fixed a$sgts al ratss c*ulatad lo write os¥d down lo ils estim•l8d r6sKlual value eventy ov8r ils gxpected useful Itfe, as follows.. Freehokl land and bulldlng8 - Tho l•nd wd buildings held by the CLywny in Georgè Ro￿. Kingslon upon Thames at 31 August 1975 had been wrrtt8n dthvn lo £100.000. baing an amount representiig the value of the freehokl land. Th15 freehold land has been rgtoined in t bala￿ sheot at the carryirp ¥alu8 of £100,O¢x). - The freeh)Id land at the 8Pryts ground in INorce8ter Park ' nc4 depr￿￿9t8d. The cost ofthe pavilion i¥ depraclalgd overten The eost of any rnin￿ additions lo buildings slnce 1 Sept¢mbor 1975 ￿ tsweciated ov•r ten y••rs. Mw'or aftwa1￿8 made to ex￿ting sehool buildings and addTt*)nal buikjings acquired are deprac￿ ovèr fffly yearn. FLxtures. ffttlngs equipment - Ccrtnputer èquipmerrt over thr¢e years - All other T￿lUre8, frtUrys and oquikKnent over four yg8rJ Mcrtor Veh￿¢8 - Over fcwjr y•arn 1.9 INVESTMEKrs The Company's Investments included in the balarKe Sheet atlalr volue lthoir market valu•). Th• gains or lows arisiw upon their annu￿ rwaluation InCI￿Sed in the sl•temenl ol Iln8nci•l xtMtk*8. 1.10 LEASED ASSETS AND OBUGATIONS AN of the Company's18ases are "opeTaty 1888¢$". costs of tho1• leajes are charged lo the Ital￿ of finar¢l81 *tNiti¢8 on ￿ x¢ru•18 basil ovw the term of the163￿. ROKEBY EDUCATIONAL TrUST UklJTED IA Cornpany Limit•d by Gu•fant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 ACCOVNTING POUCIES Icontlnuadl 1.11 PENSION CONTRIBUTIONS Retirement berfrts to certain emptyeo8 of tho COM￿ry ¥¢ providad by the Togchers. Pension S¢heme EngLgnd and Wales rTrs"i. a defineAI benefft scheme for ¥thich the assets are 8apaTalety frcm those of the Company. The TPS Is an unlunded schem• and contributions are calculated so as 10 8pread the c08t of pens￿n3 ovor employees, WorkY￿ lTrMs with the Company in such a way that thg pension c08t l# a substant￿lty ￿¥•1 Fercenlage of curnnt and thjture pension•bte payrc41. Tha contributions ar8 det0￿l￿ed by the Government Acluary on th8 basi¥ of quinquennial valuations u$irKJ a prosp8ctive ban8fft method. The TPS is a mutti4mployer scheme and the C¢xnpany 1$ un8bb2 to identify its share of the undertying aswts arKI liablitres ol the scheff* on a conslslent and reasonablè bas*. The TPS 18 therefore treated as a definod ¢￿tr￿Ut￿)n $c￿m0 and the contribution8 rwni88d 88 thay w• pay*k exh Y￿r. For all othr •mploye88. thè Company mthes c￿tribut￿)n8 into a defined contrilyJl￿n 8chom•, whose asset8 are al$0 held in a sepwate fu￿1 independently 8dministei8d by Scottish Wthdows. Th amount Charged lo the statement of financkql actNitres in r￿pect of wnsion Gosts 58 the total contribut1)￿ payable for the year. 1.12 FINANCIAL INSTRUMEpirs A finar￿￿1 instrumtnl 1$ 8 contrxt that gprn rvje to a finan￿81 468•t of one enlty and a flMnci•l Ilabllty or instrument of ancther entity. F*)anelal in$trum8nl8 are therefore cla8sffji¥d accounted for according lo the Substan￿ of eontradujl arrangement a$ ffinancAI ￿sets, fin4nci&l liabiliti08 or equtty inslwments. An equty in¥trurrMI any contract that ￿IdenCeS 8 resKlual intefesl in th• al￿1¥ of the entty aft•r ¢JOd￿tI￿ all of ￿ liabdrt 1.13 FINANCIAL ASSETS AND UABIUTIES The Comp8ny'$ debtors and Creilitors th* ff*etthe definitK*n of•lthw a financial a•￿t or a fln8rKlal Ikqbility inrtiolty r•cognieed at fair value and thereafter are stated gt amorti$•J cost using the interest metho 1.14 FUND ACCOUNTING The general fund compris88 the acwnuLryl•d surphJ8es of ￿reStriCted irKome over oyFendltw•, are avsilabk for us• in furtherance Lrf h general obJ'&tNes of th? Ccmpany. Designat￿1 funds are a particularfomi of Unrestr￿lad fuThJs C4￿$1￿11n9 of amounts. have been alk￿ed or deS￿nated for specrfic purposes ty the Govemor8. Thè use ol de$ignaled fund8 remalns at the djscrth.on ofth? GoY•morn. Restricted funds ara funds subject to spec￿￿ conditlon8 Irrposed by donors. The purpose and use of the restl￿ted lund$ are set OLrt in the ncrtes lo the fin￿￿la1 statements. Amuntg unspent al the year ervj are carried forward in the balance she8t. 1.15 GOVERNMENT GRANTS Govemmenl grants are recojnised at the fair value of the asset received or receivab￿ when there is reasonable assura￿￿ that the grant Cry￿11￿)n$ wrfl be met arKI the gronts will be received. 24 ROKEBY EDUCATIONAL TRUST UMITED IA Company Llmlted by Guarnntse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 CRMCAL ACCOUNTINO JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAIN In th• applicat￿n of the Company's &counting polic￿$, t￿ Govwnor5 are required lo mthe judgement8. estimates and as5uWions aboLrt the carryiTrJ aTh￿nt ofassets 1kgbllrt￿ that are not readlty apparent fr(Mm other gources. The eslimales and undetying assumptions are based on historical expgrience and cther factors thkt are consid8T8d to bg Tg1ov8nt. Actual results may differ from these e8tim8les. The esl¥nales and UrKle￿n9 as$umptknn$ are reNryvwed on an ang0￿9 b•8i•. Revis10￿ to a¢counliThJ e81imates ara recogni8tsd in the per￿ in whth the est¥rthe 16 revt8ed rf ts r6vi8ion affects onty that pericd or in th• pwknd of tho rovbsion and ftrture peiiods rf tha revix)n affects LvJth curr•nt and fLrture perbds. School D•poslts Rdund4ble dgpo¥it¥ ar8 currently cl8ssified befvn long term and short tern in I financial stal8ments. The8e dep05rts ¥8 rdundat49 in Ih• •venl that puwls knve th8 school t)n temi, notrce. and ￿ such the dgposit woukl be refunded lo t￿ pafents at that polnt. Howev6r. th• financial statements are prepared on a going concem basis and manag•nenl mako a judgemeftt that tho malonty of pupils will remwn in the scho￿ fortheir full years of educatN)n and thorefore the deposrt wiu be r8fund¢d lo them when they Iwe the school. Therefore, short Iwm dep￿rtS refiect th¢xe pupils that will be leaving school within one yegr. and the k*ng-lemi deposts refiect th08e P￿1￿ that ar0 likety to ￿ loavkng I School more thon Iwefve month8 from the balaKe sheel d•t•. Incom• from donatlon• and l•gac14• Total 2021 Totsl 2020 6,000 1,104 6,000 1,104 l income Irtyn don*lons and *xies is unrestricted for tho currMI arKI wnpwatlve yèar. 4. 8¢hool op•rntlng Incom• 2021 2020 Gross Fees re￿￿¥b￿ fty tuition and fees li lieu d notic• Less Gbbal summer lemi fees discount Le88 Cow[￿19 relatad hardship 6,810,967 6.528.946 {169,177) 1312,046) (13,839} (46.190) Net Fees 6,627,951 8,170,710 other operthng lrtom8 Job retention scheme grant 153.818 200,334 19,794 98,812 S,801.￿3 ¢469.856 All s¢h¢￿ operating wKome is unreStr￿ted for the current and compwative year. 25 ROKEBY EDUCATIONAL TRUST UIIITED IA Company Limit•d by Guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Inv•stm•nt Incom• Unf•strlcted R•¥trfctod Totsl Unrestrlthd R•sthcted 2021 2021 2021 2020 2020 rotal 2020 Bank intwe81 Income from investmen18 18,331 18,331 6.498 6.498 7.075 7,076 6.498 6,552 18,331 7,075 25,407 6. School Op•rntlng Colts and Gov•m*nu Costs 2021 2020 Dlr•ct Costs Teaching .' Staff costs Teaching .' Operating btsa￿ r•ntal• Teaching .' Other costs Welfar•.' Other costs Premiges '. Staff Costs Preml8es .' Othèr co31$ Scholarships, diSC￿nts arKI burswles awarded 3.436,137 3,393,656 67,491 78,659 341,194 359.955 311,929 270,997 276.080 268,785 891.089 586,514 109,643 144,392 Support Colts Wag88 and salarl88 - JnortS8ation Depreci8ts"on Audit fee Accountancy 8nd advknry Operating lease rentals ot￿r c0818 ' 444.198 4,056 319,047 16.740 5,135 23.893 192.011 483.846 6,084 355,360 16,769 6,000 23,880 232,074 6,238,623 8,228,751 ' other c￿ts c¢)mprise general •dminthive cost• induding rtems s￿h a8 racrultrnent. prof988lonal fe•$, markeling, ￿. atc. 7. NET MOVEMENT IN FUNDS 2021 2020 This18 Stated aftor ¢haT9ing'. Auditors, rernuneration.. audit Audrtorn, remuneratbn.. non4udlt fees 16.740 1,740 16,769 6.000 26 ROKE8Y EDUCATIONAL TRUS[ LIMrrED IA Company Limit•d by Guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 8. STAFF COSTS 2021 2020 Wages and salaries Socigl secunty co81s Other pensw co818 Other 8t8ff c061$ 3,271,575 3,277.881 338,325 335,682 471,630 463.288 74.885 69,2 4.156,395 4.146.087 The averap nLrnbor af duriry Ihe w86 88 follo¥M". 2021 Number 2020 Numb•r Teaching Wellwè. prWnis￿ . I￿pOrt and *JmIniJtrat￿n 30 The nun*8r ol omployee8 wh06• r•munwation for the year foll WTthin the foll￿￿n9 bands wa8: 2021 Number 2020 Number £eo.¢Joo to £69,999 £70,000 10 £79,999 £120,00010 £129,999 Th• C¢)mpany m•d• ct)ntributions to pension schemes on behalf of dl employee8 wh08e emc4uments oxc88d8d £60,000, and th8 Iclal contributK)ns payable during the year wnounled to £112.658 (2020.. £125,5671. No otlw mombw of slaff rewwd total emcluments In exc88$ of£60.000 during th• ¢utronl or prÈvbu8 yèar. Th6 total amount of ￿ph)Y86 bèngfits rx¢Ned by key Managemw￿ pernonnel for their 8eDAce8 to the Company during tho yo4r rnnled lo £575.30112020.' £598,930) and C(¥npany incurred employ¢r8' national insurance conliibutwjn costs of a fvrthgr £57,035 {2020.. £72.31n in relation to the employment of t￿¥0 san* mwnb¢r¥ of staff. None ofth• Govemors recepKd any remun8ralx￿ for servw as a trustee ora8 a directorofthe Company during the current or previLw year. N￿e ofthe Govwncvs received reinbuT¥ement for expenses inGurrgd in relatNJn to the Cornpany during tho curronl or Pr•41￿ year. The Coftwany has taken out a combined irtsura￿e pollty that includes buildirvJ$ ¢c¥7tents insurance. employerfs liabilrty insurance and prof￿￿al y￿¢mnIty insurance cover ￿ the Govemors and staff of the Company. The premlum for profess*￿*1 indfjmnty insurance paid by the Cc#npany in respect of this etement d the insurarte was £1.5(6 for th8 year armling 31 Marth 2021 (tr* Compary paid omium of £1.506 for ts year ￿ded 31 M9￿h 21Y20). 27 ROKEBY EDUCATk)NAL TRUST UMrrED (A Com￿nY Lwnit•d by Gu•rnnts•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 9. Intsnglbl• Flx¢d Ass W•bsfto Total 1 Sept•ffkner 2020 arKI 21 August 2021 24,336 24,336 AJnorti5ation.' 1 September 2020 Charg8 for thè yo•r 20.280 4.056 20.280 4.056 31 August 2020 24.336 24,3 N•t bocA( VaK￿.. 31 AugU8t 2021 31 August 2020 4,056 4.056 10. Tanglbh Flxed A•••t• Flxture8 •nd ftttlng• Frn•hold Alotor Total Cost.. 31 August 2020 Additi¢Jns 9,S17.853 2,397,960 13,540 54.876 73.251 11,989,064 60.418 31 August 2021 9.531.393 2.452,836 73.251 12.057,480 Depreciation.. 31 Augugt 2020 Provh48d during the year 4.330.500 2{￿,849 1179.482 110.805 71,858 1,593 6,581,640 319.047 31 Augu812021 4,537.349 2,290.087 73.251 8,900,687 Net book vAIu•'. 31 August 2021 4.994.044 162,749 5,156,793 31 August 2020 5.187.353 218.478 1,593 5,407.424 ROKEBY EDUCATIONAL TRUST UMITED IA coM￿nY Lknlted by Gu•ran¢eel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 11. Investments 2021 2020 1 September 2020 Gwns and Los58s 183,515 32.151 175.350 {11.835) 31 August 2021 195,666 163,515 At the balance sheet dato. tho historical t￿1 of Ihé In￿Strnèftts wa# £125.99112020.' £125,991). IndNiduo1 holdings reproSen￿n9 more than 5% of Ihe mart¢6t vdue of the pothllo •t thè b8l*K8 shoot date are as folbws.. 20 2020 CCLA Inv86t￿nI Management Ltd- COIF CIWIts￿ Invutmert Fund M&G- Equities Inwlment hJnd f¢x Ch8ritbg8 116,181 79,485 1IXI,507 63.008 195,666 163,515 12. DE8TORS 2021 2020 Trade debtor8 Oth¢r d6btor8 Prepayments and acCn￿d in¢>)m• 32.4X) 23.753 4,on 150,769 184,318 183.259 212.143 13. CREDITORS,. amount• lalllng due wlthln on• y•*r 2021 2020 Trade crédbtors Loans from parents Parontal dep)3its other tsxalion and social 8ecurMy Pension Contribut￿n$ payajle Other creditors Ac¢ruabs Oeferred inc(Kne 121,390 84,196 20,000 28.250 124,604 64,654 2,733 290 26.595 29.397 559,110 464,852 82.500 792,328 814.243 29 ROKEBY EDUCATIONAL TRUST UMrrED (A Company Llmlted by Gu#rante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 14. DEFERRED INCOME 2021 2020 Mov&7)ent3 In d6fèrrèd rrwre were as fdkyw8.' Deferred inwme ot the start of the year Income rKoived in advance Defèrrod incom& released 561,772 635,434 654,610 461.101 {583.522) {534.7631 Deferred i￿8 at er¥J ofyear 832,860 561,712 DefeTr¢d inc(Kne rnpresent8 feo income received in advArt8. 10. CREDITORS: amounts f•lllng duo wlthln mor• than on• y•ar 2021 20x1 73,750 $31,244 86,920 557,500 Loan• from parerls 804,994 854.420 Loan• from parents ar• int•rn8t and Ur￿￿￿r0d. TW fal due for repaytr￿1 wrthln thr•¢ months after the nomlnat•J pupl leave8 Rok•by. Earliw r•pwm•rtJ m•y ￿ made Jt the di8cr8tK)n ofthe Govern(n. 16. THE FUNDS OF THE CHARrrY 2021 Broughl Forward InvMtm•nt galn• C•rrl•d Forward In¢om• Exp•ndltur• RESTRICTED FUNDS Scho18r8hip Fund Bursary FurKI 213,186 45.003 6,498 32.151 251.835 45,003 258.189 6.498 32,151 296.838 UNRESTRICTED FUNDS Gèneral Fund Fiftieth Annivernary Fund 7,678.875 1.000,000 6,807,617 16.238.623} 8.247,869 1,000,CQO Total UrKMtrthd Funds 8.678.875 6.807.617 {6.238,623) 9,247.869 Total lund8 8,937.1x4 8,814.115 (6,238.6231 32.151 9,544,707 30 ROKEBY EDUCATIONAL TrUST UMITED (A Company Lknltod by Guarantee) NOTES TO THE FINANCIAL STATEMEtirs FOR TrIE YEAR ENDED 31 AUGUST 2021 16. THE FUNDS OF THE CHARrri leonllnu•d) 2020 Brought Forward Inv•8trnont galn8 Carrl•d FoNMrd Income Exp•ndltur• RESTRICTED FUNDS Scholarship Fund Equiprr￿nI Funds Bursary Fund 217,945 11,572 45,003 7.076 {11,835) 213,188 (11,572) 45,003 274,$20 7.076 (11.572) 258,189 UNREsTricfED FUNDS Genoral Fund Flftielh Annivernary FurKJ 7.404,763 1.IlCrt).000 6.489.291 (6.215,1791 7,678.875 1,000.O¢XI Trtal Unre$1rKt￿ Funds 8,404,783 6.489,291 {6.215.179) 8,678,875 Total funds 8.679.283 6.496.367 (6,226,751) 111,835) 8,937.064 Scholarshrp Fund wa8 sel up in 1995 following the receipt of an anonymus don8tlon. The furKI8 are intended to bo to provk1e a full 8cholarnhlp fol a PLbpiI of Rokeby S¢ho)I, who would othmvise bg unabk* for flnancial rea80n$ to 8tt¢nd tho ad￿1. Tho Equiwnent Funds were owin*y 8•t up kn 2(X)7 fthvkng the recapt of an rathymous dcfotlon of .500, which wo$ used IcMardJ the ¢0818 of adding ball waU8 10 thg exi$lin9 pl#yground faci1it1o8. Subsequenlty. the Company has r8ceNed variw$ arrwnts from the Rokeby Parents. Clrcle that are eamwrked lor the purchase of spècffic items lo support the School. Onco the money involv•d has bgon spent on tangibl8 fixed au•t•. rdtrJn( (*precintion chargod on th￿0 Mme a880ts18 allocated to the fund each yosr. The Bursary Fund was Set up in 2008 foltrwirv4 thè rec￿pt of donalvJns frryn the parerts of boy8 leavlng in that year and Ihls fund has $ubsequ￿1￿ been •Jded lo by donationg from the Rc*eby Parents, Circl8 woll as anonymous (k)natKJns. Th8 funds we Int•nd•d lo be to burBaries for boy8 whose parents would cAheNts• b& unabb b afford the 8chool'8 norn￿1 tuition and extra-curricular fges. The Fittth AnnNersary Fund is a designated fvrKI set up in 2015 by a transfer of lurtsjs from th& General Fund. The fund8 are initidly intendéd to be us&J lo prcwtdg bursanes and cther foms of specific financial assistsnce lo pupils and for other charitable puTro8es. Tho govern￿6 are intendirg to rev*w the uso of this fuThJ in coming academic year. 31 ROKEBY EDUCATIONAL TRUST UMITED {A Company Llmlted ty Guarant••l NOTES TO THE FINANCIAL STATEMEp¥rs FOR THE YEAR ENDED 31 AUGUST 2021 17. ANALYSIS OF NET ASSETS BETWEEN FUND8- 2021 Total funds 2021 fund* 2021 fvnd• 2021 TaTrJibh fixtsl a8s•ts Investments Ngt Current assets Credrtors due in more than year 5.156,793 5,156.793 195,e88 4,797,242 1604,9941 195,668 101.172 4,698,070 1604,9941 296.838 9,247.869 9.544,707 ANALY818 OF NET ASSETS BETWEEN FUNDS- 2020 R•¥trfct•d Unmtrfcted fund• nd# 2020 2020 Total fund• 2020 Inl•nglbh & Tang￿8 8888ts Inv881m•nts Net Current assets Creditors due in more th•n ¢n• y•ar 5.411,480 5.411,480 163,515 4,016.489 1654.4201 163,515 61.674 3,921,815 1854,420) 258.189 8.678,875 8.937,064 NEf CASH FLOW FROM OPERAMNG AcTivmES 2021 2020 Net In￿Me beftye revajualions Dividgnds. intere81 and rents from irv￿stments Amortisatlon charges Depreciats'on ch8rge8 Netlgainsl 1105ses on in￿StrnenI 888ets Decrease) in debtors Deere#¥e in credrtors 607,643 16,552) 4.056 319,047 132,1511 28,885 {21,9161 257,781 {25,407) 6,084 355,380 11,835 7,924 (111.687) NET CASH INFLOW FROM OPEIIATIONS 899,012 501.890 32 ROKE8Y EDUCATIONAL TRUST uMrrED IA Company Limit•d by Guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 19. COMhlTMENTS UNDER OPERATING LEASES 2021 2020 At 31 ALrgu$l 2021, the Compary wa5 Committ￿ to mak8 ￿ folbxryno Iclal payments under norK*nCel1ab￿ c¥>erating leases.. In r6ip•Gt of nKrtor vehth 8nd plarrt mxhinw1888M- Amounts due within ¢Jne year Arn￿￿nts due one w¥J fr#Y years 21,678 47.089 72,283 45,571 81.908 117,854 RELATED PARTY TRANSACTIONS The folkThing Gov•rnors, who wore during ￿ COUTse of the year parerrts of boy• at th8 8¢hool. had a fin8ndal relat￿nShiP with the sc1K￿ on the same basis as any other paTent.' Mr 8 Brenninkmthier Mrs D A Davidson In rO￿On to the above, during tha yèar, the coMp￿Y rac¢¥nised total feas racoivabl8 for tuf(ion amounting lo £58,073 12020.. £72,756). At the balance sheet date, £6,06912020.. Nlll was 04v•d lo the Company by parent GovemorB. and In r88p8d of10on8 deposits r•c•ived from parents, no 4moun18 were owed to ary of the parent Govorrnrs from lh• Company {2020.' Non•l. Thare ar• no furthèr related paty tran￿t￿M8. 21. PENSION COMIArrMENTS The School participates in t￿ T•xhers' Pensw Schwne rthe TPS'I for ts t￿hIng 8taff. Th¢ pension charpe for the year Includ￿ contributions pay¥L4e to the TPS of £471,63012020." £463.288) and at th• yéar ènd dat•. £Nil12020.' £55.2441 was accwed in rn8pecl of ¢cmtributlons lo thi¥ 8ctr*me. Th• TPS is an unfunded muttFemploy4Y defir*èd barth p8nsiM •Che￿ gov•m8d by The Teachern, Pensions Regulations 2010 (as amended) and Tho T￿￿15, Pension Sch•me RgguklM?ns 2014 la8 amended). Members contribute cm a 'p8y 83 you go" basig wféh Contributions from memb8r5 and the employer being eredrted to Ex¢Wuw. ReliTwMnt and cAtr*r pe￿￿￿ benefits are paid by public fund8 providod by Padiamenl. The employfjr contribuhon rale is set by the Secretsry of Slate folKwing sthem9 valuations undertaken by th• Gov•rnment Actuary'g Department. The n￿t Teeent ¥tuanal vduat*)n of the TPS wa6 wepargd a at 31 March 2016 and Valuation Report. which was publr6hed in Mar¢h 2019, confirmed that the empknyer conlribthKJn rate for ts TPS woukl increase from 16.4% 10 23.6% from 1 Septamb8r 2019. Employers are also requirgd to pay a schwne admini8traliM levy ol 0.08% giving a total •nployor contribution rata of 23.68%. The 31 March 2016 Va￿￿tIC￿ Report was prepared in with the benefits set out in the $chem regulations and under the approach speerf￿d in the DirectKj￿, as they 8pplJed at 5 March 2019. However, the assumptions wtte considered and $et by the Departmenl for Education prior to the ruling in Ihe 'McCbJdlSargeant case,. Thb5 ￿$? ha5 requirgd thg Courts to Cons￿er ca$e8 regarding the implementslion of the 201 S reftThs to S8rvic8 Pensi(￿ including the TeaGhgr8' Pen$i¢)ns. 33 ROKEBY EDUCATIONAL TRUST UMITED IA Company L￿Nted by Gu•Mntw 140TES TO THE RNANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 21. PENSION COMMrrMENTS (conllnued) On 27 June 2019 the Supreme Court dOn￿d the g)vernmènl penn￿Slon lo appeal Court of Appeal's judgrrtht that transitional provisicw introd￿ed lo the reforrn￿ PenS￿n schgmes in 2015 gave lo unlawful age d15crimlnal￿n. kN)vemment is resF*th"ng the Court's decision and has s￿d it will en948 ful￿ with the Empknymenl Tribun81 as well a$ omployer ond mejnber represenl•tivo8 to agrée hLv•V the discriminatio￿ witt b• rerned￿. The government announced on 4 February 2021 Ihal it intend$ to proceed ¥wth a deferred Cho￿ underpin under whth member8 will be able to Che￿¥0 either l&Jacy or refom scheme benefrts in re$poct of Ihew Serv￿ during Ihe pericrfj belween 1 April 2015 and 31 Maich 2022 at the point thoy t*come payable. The TPS is iubj'xt to • cost w M￿h￿nIsM which ¥Ai put in place lo prot•ct tayyers &gain8t unforesoen changes in scherrn costs. The Chief Secrntary to th• Trgasury. haviw In 2018 announced that there woutd be 8 T6v16w of this o)st cap meLhanism. in January 2019 announcod a pause lo the wsl cap mechanism foll￿•ng the CvJrt of Apwl's Tulin9 in the McCk*udlS8rgoant case and until there is ¢ertointy about the volue of penslons lo ern￿oyeeS from Aprif 201S onwards. The pause was lifted in July 2020, and & con8uhation w88 laun¢W on 24 June on propos&1 ehanggs to thg cost Contr￿ mechanijm foll￿1n9 a re¥￿￿ by the G¢)v•mment Actuary. The con$u#4tK)n chxed lo ro8porrf• on 19 Auqu812021 d the Govemment currenlty anatysing the respons￿. In VI￿ of tho above rulings and decisths the assumpt￿n8 used In the 31 March 2016 Aciu8rSal Valuation moy become inappropriate. In this scena￿, a val[￿lon prepared in xcwdancè wth revlsed beneffits and •uitabty revi8ed a86unw￿oTr8 would y￿1 drferent re8ull8 than thw contaNwil in the A¢tuarial Valu8tlon. Until the cost ¢4p mechanism revi￿ 18 CNnPbl￿ it i8 Poss**￿ to crrt1￿Io on •ny financial impKt fvturn charges lo the contrtsution rates ofth? TPS. thofdingty no pfoviBlon for any add￿￿•1 past benefft pension costs is irKluded in thése fin8n¢kql ststomenls.