2022-08-31-accounts - Queen's Gate School Trust Limited

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			Page
Legal and Administrative	Information		1
Governors' Report (incorporating		the Strategic Report)	2 —8
Statement ofGovernors'	Responsibilities
Independent Auditors'	Report		10—13
Statement of Financial Activities			14
Balance Sheet			15
Cash Flow Statement			16
Notes to the Accounts			17—27


Governors				Mrs Reica Gray (Chairman)
				Mrs Carol Davis
				MrJonathan Dobson
				Mrs Elisabeth Foster
				Mr William Gillen
				Mr Shai Hill
				Mr Gary Li
				Ms Camilla Trefgarne
				Mr Peter Trueman
				Mrs Manina Weldon
Principal				Miss A Wallace (from 1September 2022)
Bursar and Secretary				Mr J Cubitt
Senior Management		Team		Miss A Wallace
				Mr J Cubitt
				Mr M Crundwell
				Ms C de la Pena
				Mr J Denchfield
				Mr P Williams
Company	number			00640464
Charity number				312724
Principal address and		registered	office	Queen's Gate School
				133Queen's Gate
				London
				SW7 SLE
Auditors				TC Group
				The Courtyard
				Shoreham Road
				Upper Beeding
				Steyning
				West Sussex
				BN44 3TN
Bankers				Barclays Bank Pic
				1Churchill Place
				Canary Wharf
				London
				E14SHP

			Notes	Unrestricted	Restricted	Total 2022	Total 2021
				funds	funds
INCOME FROM:				E	E	E	E
Donations and legacies				6,559	9,530	16,089	57,958
Investments				22,807		22,807	1,602
Charitable activities				10,935,073		10,935,073	10,402,408
Other income				1,575		1,575
Total income				10,966,014	9,530	10,975,544	10,461,968
EXPENDITURE ON:
Raising funds				1,330		1,330	5,913
Charitable activities				10,757,280	1,313	10,758,593	10,189,574
Total expenditure				10,758,610	1,313	10,759,923	10,195,487
Net income				207,404	8,217	215,621	266,481
Transfers between	funds
Net movement in funds				207,404	8,217	215,621	266,481
Fund balances brought		forward		8,002,249	142,567	8,144,816	7,878,335
Fund balances at carried forward			20	8,209,653	150,784	8,360,437	8,144,816

		2022		2021
	Notes
FIXEDASSETS
Tangible assets	12	12,525,524		12,763,342
			12,525,524		12,763,342
CURRENT ASSETS
Debtors		462,902		193,956
Cash at bank and in hand		4,738,692		4,586,846
		5,201,594		4,780,802
CURRENT LIABILITIES
Creditors due within one year	14	(4,147,326)		(3,755,904)
NET CURRENT ASSETS			1,054,268		1,024,898
TOTAL ASSETS LESSCURRENT LIABILITIES			13,579,792		13,788,240
LONG TERM LIABILITIES
Creditors due after one year	15		(5,219,355)		(5,643,424)
			8,360,437		8,144,816
REPRESENTED BY:
RESTRICTED FUNDS	19		150,784		142,567
UNRESTRICTED FUNDS	19
General funds		8,183,509		7,976,105
Designated funds		26,144		26,144
			8,209,653		8,002,249
			8,360,437		8,144,816

					2022		2021
				Notes
Cash flows from operating	activities:
Net income for the year					215,621		266,481
Adjustments for:
Depreciation charges				12	430,671		433,888
Dividends, interest and rents from investments					(22,807)		(1,602)
Loss/(profit) from sale oftangible fixed assets				12			40,075
(Increase) / Decrease in debtors					(268,946)		94,028
Increase in creditors				14	364,995		87,043
Net cash provided by operating activities						719,534		919,913
Cash flows from investing	activities
Dividends, interest and rents from investments					22,807		1,602
Purchase oftangible fixed assets				12	(192,853)		(210,831)
Net cash used in investing	activities					(170,046)		(209,229)
Cash flows from financing	activities:
New borrowing (overdraft)							1,109
Repayments of borrowing					(397,642)		(372,182)
Net cash used in financing	activities					(397,642)		(371,073)
Change in cash and cash equivalents		in the year				151,846		339,611
Cash and cash equivalents	at the beginning		ofthe	year		4,586,846		4,247,235
Cash and cash equivalents	at the end	ofthe				4,738,692		4,586,846
year
Analysis ofcash and cash	equivalents
Cash at bank and in hand						4,738,692		4,587,955
Overdraft facility repayable	on demand							(1,109)
Total cash and cash equivalents						4,738,692		4,586,846

This is stated after charging:	This is stated after charging:	This is stated after charging:		Total	Tota I
				2022	2021
				E	E
Depreciation				430,671	433,888
Auditors'	remuneration	—audit services		16,000	16,000
Auditors'	remuneration	—non-audit	services	14,298	14,970

	Unrestricted	Restricted	Total	Tota I
			2022	2021
			E	E
Donations	6,559	9,530	16,089	57,958
	6,559	9,530	16,089	57,958

		2022	2021
		E	E
Gross School fees		10,964,697	10,791,702
Less:
Bursa ries and allowances		(730,066)	(672,480)
COVID discounted	fees		(118,910)
COVID Hardship	Fund awards		(38,658)
Net School fees		10,234,631	9,961,654
Add:
Registration fees		44,531	41,704
Extras income		655,911	383,595
CJRS Grantlncome			15,455
		10,935,073	10,402,408

		Staff costs	Depreciation	Other costs	Tote I2022	Total 2021
		E	E	E	E	E
Cost of raising funds:
Fundraising	activities			1,330	1,330	5,913
Total cost	of raising funds			1,330	1,330	5,913
Charitable	expenditure
Education
Teaching		6,213,831	216,699	491,255	6,921,785	6,438,971
Welfare		111,186		602,881	714,067	575,038
Premises		58,609	213,972	959,479	1,232,060	1,360,201
Support and governance		850,876		1,039,805	1,890,681	1,815,364
Total charitable expenditure		7,234,502	430,671	3,093,420	10,758,593	10,189,574
Total expenditure		7,234,502	430,671	3,094,750	10,759,923	10,195,487

Analysis ofsupport and	governance costs:	governance costs:	governance costs:
				2022	2021
				E	f
Auditors' remuneration	for audit services			16,000	16,000
Other governance costs					575
Total governance costs				16,000	16,575
Support costs:
Auditors' remuneration	for non audit services			14,298	14,970
Legal and professional	fees relating to		support	118,351	73,195
Support staff wages, national		insurance	and pension	850,876	827,580
Loan interest				352,182	374,540
Other support costs				538,974	508,504
				1,890,681	1,815,364

		2022	2021
		f	f
Teaching		83	79
Premises		3	3
Support		11	13
		97	95
The aggregate	payroll costs for the year were as follows:
		2022	2021
		E	f
Wages and salaries		5,641,767	5,381,423
Social security	costs	600,822	535,385
Pension costs		991,913	945,821
		7,234,502	6,862,629

Staff earning in excess ofE60,000per annum
	2022	2021
	Number	Number
E60,000 —E69,999		5
E70,000 —E79,999		4
E80,000 —E89,999		3
E90,000 - E99,999		1
6100,000 - 6109,999
E160,000 - E169,999

y the School to those	schemes	fo	r higher p	loyees w	ere:
						2022	2021
						E	E
Defined contribution	schemes					17,909	9,849
Defined benefits schemes						153,182	161,229
						171,091	171,078
The key management	personnel		ofthe School are	detailed	in the Governors'	Report and Legal and	Administrative
Information.
						2022	2021
						E	E
Aggregate employee employers national	benefits insurance	of key management personnel and pension contributions)			(Including	926,835	958,743

			Unrestricted	Restricted	Total 2021
			funds	funds
INCOME FROM:			E		E
Donations and legacies			40,210	17,748	57,958
Investments			1,602		1,602
Charitable activities			10,402,408		10,402,408
			10,444,220	17,748	10,461,968
Raising funds				5,913	5,913
Charitable activities			10,189,574		10,189,574
Total expenditure			10,189,574	5,913	10,195,487
Net income			254,646	11,835	266,481
Transfers between	funds		4,788	(4,788)
Net movement in funds			259,434	7,047	266,481
Fund balances brought		forward	7,742,815	135,520	7,878,335
Fund balances at carried forward			8,002,249	142,567	8,144,816

NGIABLE FIXEDASSETS
	Freehold	Fixtures and	Computer	Total
	Property	Fittings	Equipment
Cost
At 1September 2021	15,108,092	917,821	955,194	16,981,107
Additions	21,355	51,472	120,026	192,853
At 31August 2022	15,129,447	969,293	1,075,220	17,173,960
Depreciation
At 1September 2021	3,017,844	571,938	627,983	4,217,765
Charge for the year	213,972	62,086	154,613	430,671
At 31August 2022	3,231,816	634,024	782,596	4,648,436
Net book value
At 31August 2022	11,897,631	335,269	292,624	12,525,524
At 31August 2021	12,090,248	345,883	327,311	12,763,342

DEBTORS
		2022	2021
		E	f
Fee debtors		180,383	58,329
Prepayments	and accrued income	247,637	132,436
Other debtors		34,882	3,191
		462,902	193,956

					2022	2021
Bank loans and overdrafts					435,743	409,316
Trade creditors					219,749	186,489
Other creditors					123,721	28,553
Accruals and deferred	income				463,108	444,436
Fees in advance					1,196,209	1,003,421
Deposits					1,547,920	1,534,838
Other taxes and social	security				160,876	148,851
					4,147,326	3,755,904
Fees in advance represent fees		received for the	Autumn	term 2022.
CREDITORS: due after	one year
					2022	2021
Bankloans					5,219,355	5,643,424
					5,219,355	5,643,424
BANK LOANS
					2022	2021
Bank loans are wholly	repayable	in instalments	as follows:
Less than one year					435,743	408,207
In more than one year	but less than two years				464,890	435,743
In more than two years but less		than five years			1,587,104	1,489,029
In more than two years but less		than five years			3,167,361	3,718,652
					5,655,098	6,051,631

			Balance at 1	Balance at 1	Income			Expenses	Expenses	Expenses	Transfers	Transfers		Balance at
			Sept 2021										31Aug 2022
				E								E		6
Unrestricted funds
General funds			7,976,105		10,966,014		(10,758,610)							8,183,509
Designated funds				26,144										26,144
			8,002,249		10,966,014		(10,758,610)							8,209,653
Restricted funds
Queen's Gate Foundation	-Capital			47,961										47,961
Queen's Gate Foundation	—Bursaries			94,606	9,530				(1,313)					102,823
				142,567	9,530				(1,313)					150,784
Total funds			8,144,816		10,975,544		(10,759,923)							8,360,437
Designated funds
Designated funds comprise the		legacy from		Miss Elizabeth de Leeuw			received			in 2016which		will	be	used over
the next few years to fund a stained			glass window in the Senior School and future								bursaries.
Restricted funds
Restricted funds comprise donations			received less expenses incurred				in	relation		tothe Queen's Gate
Foundation, which was	launched	in	2007to raise funds		for capital	projects			and	the	provision	ofbursaries.
ANALYSIS OF NET ASSETS BETWEEN			FUNDS
31AUGUST 2022
			Unrestricted general		Restricted funds					Designated funds				Total
				funds
				6										6
Tangible fixed assets				12,525,524										12,525,524
Current assets				5,024,666		150,784					26,144			5,201,594
Creditors: less than one	year			(4,147,326)										(4,1~47326)
Creditors: over one year				(5,219,355)										(5,219,355)
				8,183,509		150,784					26,144			8,360,437

		Unrestricted general	Restricted funds	Designated funds	Total
		funds
		f			E
Tangible fixed assets		12,763,342			12,763,342
Current assets		4,612,091	142,567	26,144	4,780,802
Creditors:	less than one year	(3,755,904)			(3,755,904)
Creditors:	over one year	(5,643,424)			(5,643,424)
		7,976,105	142,567	26,144	8,144,816