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|---|---|---|---|
|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|
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||||||
|---|---|---|---|---|
|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|
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||||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|
##
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|||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|
##
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||||||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|
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|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|
##
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||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|
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|||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|
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|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|
##
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|Staff earning
in excess ofE60,000per annum|in the following|bands are:|||
|---|---|---|---|---|
||||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|aid emp|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|
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|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|
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|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|
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||||||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|
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||||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|
##
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|||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|