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





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||||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<br>ratio|||0.73tonnes|0.76 tonnes|The intensity<br>ratio||measures|energy usage|
|Emissions|per pupil: 1,461 pupils||per pupil||compared|with an|appropriate|business|
||||||metric.||||





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||||||Designated||||
|---|---|---|---|---|---|---|---|---|
||||||Non charitable||||
|||||Unrestricted|trading|Restricted|||
|||||Funds|activities|Funds|2022|2021|
||||Notes||||||
|INCOME FROM:|||||||||
|Charitable<br>activities:|||||||||
|Tuition fees|||I|26,529,666|||26,529,666|24.368,442|
|Other school|income||2|703,946|||703,946|590,236|
|Donations<br>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<br>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|





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||||||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<br>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|





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|||||||||||2022||2021|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Notes|||||
||Net cash provided<br>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<br>cash<br>provided|by/(used|||in)|financing||||(719,023)||3,048,537|
||activities||||||||||||
||Change<br>in<br>cash<br>and|cash||equivalents||in|the|||711,966||1,889,104|
||reporting<br>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<br>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)<br>in|stocks|||||||||(3,453)|(3,059)|
||Decrease/(increase)<br>in|debtors|||||||||(155,065)|171,992|
||Increase in creditors||||||||||660,271|(993,381)|
||Net cash provided<br>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|





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



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|1.|TUITION FEES|||||2022|2021|
|---|---|---|---|---|---|---|---|
||Fees receivable|||||29,344,594|27,250,865|
||Less; bursaries,<br>scholarships|and|allowances|||(2,815,084)|(2,885,132)|
||Add: bursaries<br>and scholarships||funded|by restricted|funds|156|2,709|
|||||||26,529,666|24,368,442|
|2.|OTHER SCHOOL INCOME|||||2022|2021|
|||||||f.|f.|
||Registration<br>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<br>activities —Sylvestrian||Enterprises|||987,244|536,759|
||Limited|||||||
||Sundry<br>income|||||16,684|11,981|
|||||||1,188,568|690,630|
||ANALYSIS OFTOTAL||2022||2022|2022|2022|
||EXPENDITURE||Staff|Costs<br>f|Other Costs|Depreciation|Totalf|
||Raising funds|||||||
||Publicity costs||||64,860||64,860|
||Trading<br>subsidiary||||912,730|5,855|918,585|
||Finance costs||||129,717||129,717|
||||||1,107,307|5,855|1,113,162|
||Charitable<br>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|





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|2021 COMPARATIVES|2021 COMPARATIVES|2021|2021|2021|2021|
|---|---|---|---|---|---|
|||Staff Costs|Other Costs|Depreciation|Total|
|Raising funds||||||
|Publicity<br>costs|||77,365||77,365|
|Trading<br>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<br>(audit &legal fees)||||92,861|187,789|
|||||6,104,147|5,673,220|





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|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<br>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|





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



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|TANGIBLE||Freehold||Fixtures,||
|---|---|---|---|---|---|
|FIXED ASSETS|Freehold|buildings<br>and||equipment<br>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|



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|10.|DEBTORS|||||Group||Charity||
|---|---|---|---|---|---|---|---|---|---|
||||||2022||2021|2022|2021|
||Fees||||91,481||12,652|91,481|12,652|
||Amounts<br>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|





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|a)|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<br>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<br>accrued||to contracts|(31,593)|33,459|
||||870,112|709,118|
|Amounts<br>utilised||in payment offees|(325,643)|(217,069)|
|Balance at|31August||544,469|492,049|





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|13.|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|



|14.|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<br>day bursary|||17,466||(17,466)||
|||||83,900|156|(49,325)|34,731|





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|15a.|ANALYSIS OF NET ASSETS|ANALYSIS OF NET ASSETS||Net current|||
|---|---|---|---|---|---|---|
||BETWEEN FUNDS||Tangible|assets/|Long term||
||||fixed assets|(liabilities)<br>f|habihties|Total|
||Restricted Funds|||34,731||34,731|
||Unrestricted<br>- General Funds||21,748,729|(1,514,213)|(4,548,009)|15,686,507|
||- Designated|Fund||42,106||42,106|
||Non-Charitable<br>trading||17,567|6,829||24,396|
||||21,766,296|(1,430,547)|(4,548,009)|15,787,740|
|15b.|COMPARATIVE<br>ANALYSIS OF NET||||||
||ASSETSBETWEEN FUNDS||||||
|||||Net current|||
||||Tangible|assets/|Long term||
||||fixed assets|(liabilities)|liabilities|Total|
||Restncted Funds|||83,900||83,900|
||Unrestricted<br>-General Funds||22,043,581|(1,748,874)|(5,238,179)|15,056,528|
||Unrcstncted<br>-Designated|Fund||63,046||63,046|
||Non-Charitable<br>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|




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





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||||||||Designated|||
|---|---|---|---|---|---|---|---|---|---|
|||||||Non charitable||||
||||||Unrestricted||trading|Restricted||
|||||||Funds|activities|Funds|2021|
|||||Notes||f.|||8|
||INCOME FROM:|||||||||
||Charitabk<br>activities.|||||||||
||Tuition fees|||I|24,368,442||||24,368.442|
||Other school|income||2||590,236|||590,236|
||Donations<br>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<br>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<br>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<br>trading|||||||||
||activities|||(14,664)||536,759|(566,358)|(44,263)||
||Designated<br>funds|||||||||
||Scholarship<br>and|bursary|fund||63,046|||63,046||
||Development<br>fund|||||||||
||||||63,046|||63,046||
|||||14,627,345||25,847,827|(25,399,8GI)|15,075,311||
|||||||33||||





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|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<br>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)|