2022-08-31-accounts - Forest School, London

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CONTENTS			Page
Reference and Administrative		Information
Chair's Statement
Governors' Report			3 - 14
Independent Auditor's	Report		15-16
Consolidated Statement	ofFinancial Activities		17
Balance Sheets			18
Consolidated Statement	ofCash flows		19
Accounting Policies			20-22
Notes to the Financial	Statements		23-34

			2022	2021
LK energy	use kWh		4,516,720	4,664,400	School and Leisure		Centre
					Gas oil	electrici	and fuel
Associated	greenhouse	gas emissions	1,087 tonnes	1,107tonnes
Tonnes CO2 e uivalent
Intensity ratio			0.73tonnes	0.76 tonnes	The intensity ratio		measures	energy usage
Emissions	per pupil: 1,461 pupils		per pupil		compared	with an	appropriate	business
					metric.

					Designated
					Non charitable
				Unrestricted	trading	Restricted
				Funds	activities	Funds	2022	2021
			Notes
INCOME FROM:
Charitable activities:
Tuition fees			I	26,529,666			26,529,666	24.368,442
Other school	income		2	703,946			703,946	590,236
Donations and	legacies			3,380		156	3,536	199,772
Other trading	activities		3	201,324	987,244		1,188,568	690,630
Investments				2,012			2,012	1,537
Total Income				27,440,328	987,244	156	28,427,728	25,850.617
EXPENDITURE ON:
Raising funds				194,577	918,585		1,113,162	741,599
Charitable activities				26,636,712		49,325	26,686,037	24,680,725
Total Expenditure			4	26,831,289	918,585	49,235	27,799,199	25,422,324
Net income before transfers				609,039	68,659	(49,169)	628,529	428,293
Transfers			13
Net iuovement	in funds			609,039	68,659	(49,169)	62lj,529	428,293
Fund balances	brought	forward
at I September	2021			15,119,574	(44,263)	83,900	15,129,211	14,730,918
Fund balances carried
forward at 31 August		2022		15,728,613	24,396	34,731	15,787,740	15,159,211

					Group	Charity
				2022	2021	2022	2021
			Notes
FIXEDASSETS
Tangible fixed assets			8	21,766,296	22,067,003	21,748,729	22,043,581
1nvestrnents			9			2	2
				21,766,296	22,067,003	21,748,731	22,043,583
CURRENT	ASSETS
Stock				28,365	24.912	23,975	19,734
Debtors			10	446,105	291,040	490,918	337,483
Cash at bank and in hand				2,136,277	1,424,311	1,828,183	1,209,202
				2,610,747	1,740,263	2,343,076	1,566,419
CREDITORS: Amounts		falling
due within	one year			(4,041,294)	(3,409,876)	(3,780,454)	(3,168,350)
Net current liabilities				(1,430,547)	(1,669,613)	(1,437,378)	(1,601,931)
Total assets	less curn ent	liabilities		20,335,749	20,397,390	20,311,353	20,441,652
CREDITORS: Amounts		falling
due after more than one		year	12	(4,548,009)	(5,238,179)	(4,548,009)	(5,238,179)
iVET ASSETS				15,787,740	15,159,211	15,763,344	15,203,473
FUiVDS
Unrestricted
-General			13	15,686,507	15,056,528	15,686,505	15,056,526
- Designated			13	42,106	63,046	42,106	63,046
Non-charitable trading activities			18	24,396	(44,263)	2	2
Restricted			14	34,731	83,900	34,731	83,899
				15,787,740	15,159,211	15,763,344	15,203,473

										2022		2021
								Notes
	Net cash provided by	operatioas								2,446,356		1,060,763
	Cash llows from investing		activities:
	Interest receivable								2,012		1,537
	Interesi payable								(110,798)		(97,876)
	Purchase offixed assets								(906,581)		(2,123,857)
	Net cash (used in) investing			activities						(1,015,367)		(2,220,196)
	Cash flows from financing		activities:
	Bank loan repayment								(496,154)		(2,054,455)
	New bank loans										4,300,000
	Finance lease repayments								(222,869)		(29,669)
	New finance leases										832,661
	Net cash provided	by/(used			in)	financing				(719,023)		3,048,537
	activities
	Change in cash and	cash		equivalents		in	the			711,966		1,889,104
	reporting period
	Net cash and cash equivalents			at beginning		of				1,424,311		X(464.793)
	period
	Net cash and cash equivalents			at end ofperiod				B		2,136,277		1,424,311
A.	RECONCILIATION	OFNET MOVEMENT					IN	FUNDS	TO		2022	2021
	NET CASH PROVIDED BYOPERATIONS										6
	Net movement in funds										628,529	437,293
	Depreciation										1,207,289	1,351,579
	Interest receivable										(2,012)	(1,537)
	Interest payable										110,798	97,876
	Decrease/(increase) in	stocks									(3,453)	(3,059)
	Decrease/(increase) in	debtors									(155,065)	171,992
	Increase in creditors										660,271	(993,381)
	Net cash provided hy	operations									2,446,356	1,060,763
B.	ANALYSIS OF CHANGES			IN CASH AND					At			At
	CASH EQUIVALENTS							I	Septeinber		Other	31August
									2021	Cashflows	Changes	2022
									8		8	6
	Cash and cash equivalents								1,424,311	711,966		2,136,277
									1,424,311	711,966		2,136,277

Freehold	buildings	1%straight line
Freehold	improvements	5%straight line
Fixtures,	fittings and equipment	20%reducing balance
Motor vehicles and boat		25%reducing balance
Computer	equipmcnt	25%straight line

1.	TUITION FEES					2022	2021
	Fees receivable					29,344,594	27,250,865
	Less; bursaries, scholarships	and	allowances			(2,815,084)	(2,885,132)
	Add: bursaries and scholarships		funded	by restricted	funds	156	2,709
						26,529,666	24,368,442
2.	OTHER SCHOOL INCOME					2022	2021
						f.	f.
	Registration fees					148,155	143,140
	Deposits retained					204,750	186,500
	School bus					351,041	260,596
						703,946	590,236
3.	OTHER TRADING ACTIVITIES					2022f	2021
	Lettings —school					184,640	141,890
	Trading activities —Sylvestrian		Enterprises			987,244	536,759
	Limited
	Sundry income					16,684	11,981
						1,188,568	690,630
	ANALYSIS OFTOTAL		2022		2022	2022	2022
	EXPENDITURE		Staff	Costs f	Other Costs	Depreciation	Totalf
	Raising funds
	Publicity costs				64,860		64,860
	Trading subsidiary				912,730	5,855	918,585
	Finance costs				129,717		129,717
					1,107,307	5,855	1,113,162
	Charitable actiruies
	Teaching		11,834,691		1,773,978	326,012	13,934,681
	Welfare		75,817		2,104,694		2,180,511
	Premises		397,269		3,194,007	875,422	4,466,698
	Support costs		4,535,706		1,568,441		6,104,147
			16,843,483		8,641,120	1,201,434	26,686,037
			16,843,483		9,748,427	1,207,289	27,799,199

2021 COMPARATIVES	2021 COMPARATIVES	2021	2021	2021	2021
		Staff Costs	Other Costs	Depreciation	Total
Raising funds
Publicity costs			77,365		77,365
Trading subsidiary			548,035	7,807	555,842
Finance costs			97,876		97.876
			723,276	7,807	731,083
Clrari table acriruies
Teaching		11,385,751	1,594,953	503,268	13,483,972
Welfare		83,022	1,625,177		1,708,199
Premises		414,775	3,009,352	840,504	4,264,631
Support costs		4,084,162	1,150,274		5,234,436
		15,967,710	7,379,759	1,343,772	24,680,725
		15,967,710	8,103,035	1,351,579	25,422,324
FINANCE COSTS				2022	2021
Bank and loan	interest			110,798	81,726
Bank charges				18,919	16,150
				129,717	97,876
ANALYSIS OF SUPPORT COSTS				2022	2021
				8	8
Staffcosts				4,535,706	4,084,162
Administrative	&ITcosts			1,475,580	1,401,269
Governance (audit &legal fees)				92,861	187,789
				6,104,147	5,673,220

STAFFCOSTS
							2022	2021
The staff costs are analysed			as follows
Salaries							12,833,272	12,211,278
Social security							1,502,827	1,357,006
Pension costs							2,399,431	2,339,410
Redundancy and termination			payments				107,953	60,016
							16,843.483	15,967,710
							2022	2021
The number ofemployees		whose		emoluments	exceeded	660,000	No.	No.
during the year was as	follows:
860,001 - f70,000							15	17
870,001 - f80,000							7	5
f80,001 - f90,000							4	3
890,001 - f.100,000							2
8100,001 - f110,000							1
X120,001 - f.130,000							1
I140,001 - f150,000
f210,001 - f220,000
Average staff numbers	were:
Teaching							217	213
Non teachmg							182	160
							399	373
Average staff numbers	expressed			as full time	equivalents	were:
Teaching							136	136
Non teaching							99	97
							235	233

			2022	2021
The net movement of	funds is stated after charging/(crediting)	(before VAT):
Auditors remuneration	—audit fee (group)		31,150	29,700
	—other services		942	3,948
Rent rcccivable			(184,640)	(141,890)

TANGIBLE		Freehold		Fixtures,
FIXED ASSETS	Freehold	buildings and		equipment and
	land	improvements	Computers	motor vehicles	Total
		8	8	8
COST
As at I September 2021	10,000	36,924,382	2,706,643	4,575,895	44,216,920
Additions		820,013		86,568	906,581
As at 31 August 2022	10,000	37,744,395	2,706,643	4,662,463	45,123,501
DEPRECIATION
As at I Sepiember 2021		16,048,333	1,951,537	4,150,047	22,149,917
Charge for year		873,055	227,595	106,638	1,207,288
As at 31August 2022		16,921,388	2,179,132	4,256,685	23,357,205
NET BOOKVALUES
As at 31 August 2022	10,000	20,823,007	527,511	405,778	21,766,296
As at 31 August 2021	10,000	20,876,049	755,106	425,848	22,067,003

10.	DEBTORS					Group		Charity
					2022		2021	2022	2021
	Fees				91,481		12,652	91,481	12,652
	Amounts due	from subsidiary		undertaking				84,111	104,168
	Prepayments				281,296		214,827	278,241	192,642
	Other debtors				73,328		63,561	37,085	28,021
					446,105		291,040	490.918	337,483
11.	CREDITORS: Amounts		due	within		Group		Charity
	one year				2022		2021	2022	2021
	Bank loan (see note 12)				496,154		496,154	496,154	496,154
	Fee deposits				]01,700		53,500	101,700	53,500
	Fees received	in advance			681,090		494,016	681,090	494,016
	Composition	fees (see note 12)			260,449		204,312	260,449	204,312
	Trade creditors				308,776		274,009	307,816	269,431
	Finance leases(see note 12)				220,390		220,390	220,390	220,390
	Other taxes and social security				423,142		335,872	423,142	335,872
	Accruals				782,312		703,778	782,312	618,426
	Other creditors				767,281		627,845	507,401	476,249
					4,021,294		3,409,876	3,780,454	3.168,350
12.	CREDITORS: Amounts		due	after one year				2022	2021
								K
	Group and charity
	Ftnance leases							661,787	879,387
	Less included	in current liabilities						(220,390)	(220,390)
								441,397	658,997
	Composition	fees						284,020	287,737
	Fee deposits							514,900	487,600
	Bank loans							3,307,692	3,803,845
								4,548,009	5,238,179

Bank loan			2022	2021
The bank loan is	due for rcpaymcnt	as follows:
Within one to two years			496,154	496,154
Within two to five years			2,811,538	3,307,692
			3,307,692	3,803,846
Repayable within	one year		496,154	496,154
			3,803,846	4,300,000

			2022	2021f
Within one	to two years		138,544	156,641
Within nvo	to five years		145,476	131,096
			284,020	287,737
Repayable	within	one year	260,449	204,312
			544,469	492,049
The movements		during the year were as follows.
Balance at	1 September		492,049	441,973
New contracts			409,656	233,686
Amounts accrued		to contracts	(31,593)	33,459
			870,112	709,118
Amounts utilised		in payment offees	(325,643)	(217,069)
Balance at	31August		544,469	492,049

UNRESTRICTED FUNDS	UNRESTRICTED FUNDS	UNRESTRICTED FUNDS	UNRESTRICTED FUNDS	Balance			Balance
				1 Septeml&er	Income	Expenditure	31August
				2021			2022
							f
General funds				15,056,528	27,440,328	(26,810,349)	15,686,507
Non-charitable		trading
activities				(44,263)	987,244	(918,585)	24,396
Designated	funds
Scholarship	and	bursary	fund	63,046		(20,940)	42,106
				63,046		(20,940)	42,106
				15,075,311	28,427,572	(27,749,874)	15,753,009

RESTRICTED FUNDS	RESTRICTED FUNDS		Balance			Balance
			I September			31August
			2021	Income	Expenditure	2022
Organ Fund			73			73
Special Funds			29,563		(29,563)
Tyler Fund			376			376
Wolfson Foundation			20,922		(2,040)	18,882
Deaton Fund			220			220
Jago Fund			780			780
Colin Smith	Prize		14,500		(100)	14,400
Scholarship	and bursary	fund		156	(156)
Founders day bursary			17,466		(17,466)
			83,900	156	(49,325)	34,731

15a.	ANALYSIS OF NET ASSETS	ANALYSIS OF NET ASSETS		Net current
	BETWEEN FUNDS		Tangible	assets/	Long term
			fixed assets	(liabilities) f	habihties	Total
	Restricted Funds			34,731		34,731
	Unrestricted - General Funds		21,748,729	(1,514,213)	(4,548,009)	15,686,507
	- Designated	Fund		42,106		42,106
	Non-Charitable trading		17,567	6,829		24,396
			21,766,296	(1,430,547)	(4,548,009)	15,787,740
15b.	COMPARATIVE ANALYSIS OF NET
	ASSETSBETWEEN FUNDS
				Net current
			Tangible	assets/	Long term
			fixed assets	(liabilities)	liabilities	Total
	Restncted Funds			83,900		83,900
	Unrestricted -General Funds		22,043,581	(1,748,874)	(5,238,179)	15,056,528
	Unrcstncted -Designated	Fund		63,046		63,046
	Non-Charitable trading		23,422	(67,685)		(44,263)
			X22,067,003	g(1,669,613)	X(5,238,179)	15,159,211
16.	CAPITAL COMMITMEN	TS			2022	2021

			2022	2021
Turnover from continuing		activities	987,244	536.759
Direct costs			(81,516)	(25,809)
			905,728	510,950
Administrative	expenses		(837,068)	(540,549)
Operating profit			68,660	(29,599)
Gift aid payable	to Forest	School
			68,660	(29,599)
Loss brought forward			(44,263)	(14,664)
Retained in thc	subsidiary		24,397	X(44,263)

							Designated
						Non charitable
					Unrestricted		trading	Restricted
						Funds	activities	Funds	2021
				Notes		f.			8
	INCOME FROM:
	Charitabk activities.
	Tuition fees			I	24,368,442				24,368.442
	Other school	income		2		590,236			590,236
	Donations and	legacies				196,982		2,790	199,772
	Other trading	activities		3		153,871	536,759		690,630
	Investments					1,537			1,537
	Total Inconte				25,311,068		536,759	2.790	25,850,617
	EXPENDITURE ON:
	Raising funds					175,241	566,358		741,599
	Charitable activities				24,658,2G2			22,463	24,680,725
	Total Expenditure			4	24,833,503		566,358	22,463	25,422,324
	Net income before transfers					477,565	(29,599)	(19,673)	428,293
	Transfers			13
	Net movement	in funds				477,565	(29,599)	(19,673)	428,293
	Fund balances	brought	forward
	at 1 September	2020			14,642,009		(14,664)	103,573	14,730,918
	Fund balances carried
	forward at 31August		2021		15,119,574		(44,263)	83,900	15,159,211
20.	COMPARATIVE FUND		MOVEMENTS
	UNRESTRICTED FUNDS			Balance				Balance
				I September		Income	Expenditure	31August
				2020				2021
	General funds			14,578,963		25,311.068	(24,833,503)	15,056,528
	Non-charitable trading
	activities			(14,664)		536,759	(566,358)	(44,263)
	Designated funds
	Scholarship and	bursary	fund		63,046			63,046
	Development fund
					63,046			63,046
				14,627,345		25,847,827	(25,399,8GI)	15,075,311
						33

RESTRICTED FUNDS	RESTRICTED FUNDS		Balance			Balance
			I September			31August
			2020	Income	Expenditure	2021
Organ Fund			73			73
Special Funds			29,563			29,563
Tyler Fund			376			376
Wotfson Foundation			20,922			20,922
Deaton Fund			220			220
Jago Fund			780			780
Colin Smith	Prize		14,500			14,500
Scholarship	and bursary	fund		2,709	(2,709)
Founders day bursary			37,139	81	(19,754)	17,466
			103,573	2,790	(22,463)	83,900

				Balance				Balaace
				I September				31August
				2020	Cash tlows	New finance	Other non-	2021
						leases	cash chaages
Cash				1,424,311	711,966			2,136,277
Overdraft
				1,424,311	711,966			2,136,277
Total	cash	and	cash
equivalents
Bank loans duc &1year				(496,154)				(496,154)
Bank loans due &1year				(3,803,846)	496,154			(3,307,692)
Finance	lease obligations			(879,387)	217,600			(661,787)
lotal				(3,755,076)	1,425,720			(2,329,356)