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|||||Dr M PBadenoch|Dr M PBadenoch||||
|---|---|---|---|---|---|---|---|---|
|||||Rev Dr A KBergquist|||||
|||||H Burgess (appointed|||9 March 2021)||
|||||M English
(appointed||||8 October 2019)|
|||||EJDe Freitas|||||
|||||P SJ Derham
(resigned||||9 July 2020)|
|||||C M S Douglass|||||
|||||A N J Fafalios (resigned 9 July 2020)|||||
|||||JBProsser (resigned|||16December 2020)||
|||||G Savage (appointed|||9March 2021)||
|||||V Savage (appointed|||10March 2020)||
|||||D Widdicombe|||||
|||||A J D Woolf|||||
|||||J H Zehner|||||
|REGISTERED||OFFICE||1 Loudoun
Road|||||
|||||StJohn's Wood|||||
|||||London|||||
|||||NW8 OLH|||||
|AUDITORS||||Haysmacintyre|LLP||||
|||||Chartered Accountants|||||
|||||10Queen Street|Place||||
|||||London|||||
|||||EC4R 1AG|||||
|BANKERS||||The Royal Bank ofScotland Plc|||||
|||||48 Haymarket|||||
|||||London|||||
|||||SW1Y4SE|||||
|INVESTMENT||BROKERS||Brewin Dolphin|||||
|||||12 Smithfield
Street|||||
|||||London|||||
|||||EC1A9LA|||||
|SOLICITORS||||Veale Wasbrough||Vizards|||
|||||24 King William||Street|||
|||||London|||||
|||||EC4R 9AT|||||
|KEYPERSONNEL|||||||||
|Headmaster||||V W PThomas,|BEd,||MA.||
|Bursar/Company||Secretary||P Vanninen|||||
|Deputy|Headmaster||(Academic)|JHill|||||
|Deputy|Headmaster||(Pastoral)|S Stones|||||
|REGISTERED||COMPANY NUMBER:||00889424|||||
|REGISTERED||CHARITY NUMBER:||312725|||||
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|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|Funds|Funds|
|||||2020|2020|2020|2019|
||||Notes|||||
|INCOME FROM:||||||||
|Charitable
activities:||||||||
|School fee income|||3|5,636,293||5,636,293|5,444,707|
|Other ancillary
income||||180||180|4,996|
|Other trading
activities:||||||||
|Rental income||||17,672||17,672|19,804|
|Investment
income||||102,475||102,475|105,318|
|Donations
and grants||||22,340|50,634|72,974|105,533|
|TOTAL INCOME||||f5,778,960|550,634|55,829,594|K5,680,358|
|EXPENDITURE ON:||||||||
|Charitable
activity:||||||||
|School Operating
Costs:||||||||
|Teaching costs||||3,246,150||3,246,150|3,227,228|
|Welfare costs||||235,083||235,083|317,793|
|Premises
costs||||1,209,475||],209,475|1,227,428|
|Support costs ofschooling||||692,392||692,392|583,153|
|Grants, awards
and prizes||||10,946|78,394|89,340|100,884|
|||||5,394,046|78,394|5,472,440|5,456,486|
|Raising funds:||||||||
|Fundraising
costs||||64,662||64,662|65,562|
|Investment
management|costs|||17,633||17,633|30,920|
|TOTAL EXPENDITURE|||6|5.5,476,341|F78,394|$5,554,735|K5,552,968|
|NET
INCOME/(EXPENDITURE)||BEFORE||||||
|TRANSFERS 4||||||||
|INVESTMENT GAINS||||302,619|(27,760)|274,859|127,390|
|Net gains on investments||||(58,480)||(58,480)|106,729|
|NET MOVEMENT
IN FUNDS||||244,139|(27,760)|216,379|234,119|
|BALANCE BROUGHT FORWARD||||||||
|AT 1 SEPTEMBER2019||||9,509,866|412,896|9,922,762|9,688,643|
|BALANCE CARRIED FORWARD||||||||
|AT 31AUGUST 2020|||13|59,754,005|$385,136|f.10,139,141|E9,922,762|
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|||Notes|2020|2019|
|---|---|---|---|---|
|FIXEDASSETS|||||
|Tangible fixed assets|||4,181,865|4,509,677|
|Investments||||3,049,076|
||||4,181,865|7,558,753|
|CURRENT ASSETS|||||
|Stock|||4,121|3,637|
|Debtors||10|1,378,172|1,089,112|
|Cash at bank and in hand|||7,570,652|4,275,345|
||||8,952,945|5,368,094|
|CREDITORS: Amounts|falling due||||
|within
one year||11|(2,363,669)|(2,398,085)|
|NET CURRENT ASSETS|||6,589,276|2,970,009|
|TOTAL ASSETSLESS|CURRENT||||
|LIABILITIES|||10,771,141|10,528,762|
|CREDITORS: Amounts|falling due||||
|after one year||12|(632,000)|(606,000)|
|—TOTAL NET A.SSETS|||f10,139,141|E9,922,762|
|FUNDS|||||
|Unrestricted||13|9,754,005|9,509,866|
|Restricted||13|385,136|412,896|
||||f.10,139,141|y.9,922,762|
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|||||||2020|2019|
|---|---|---|---|---|---|---|---|
|Reconciliation
ofnet cash||inflow from||||||
|operations||||||||
|Net income before|investment||gains|||274,859|127,390|
|Depreciation||||||383,079|400,682|
|Interest received||||||(18,811)|(16,244)|
|Investment
income||||||(83,664)|(89,074)|
|Increase in stock||||||(484)|(388)|
|(Increase)/decrease|in debtors|||||(289,060)|169,478|
|(Decrease)/increase|in creditors|||||(8,416)|281,245|
|Net cash flow from operations||||||257,503|873,089|
|Cash flows from investing||activities||||||
|Investment
income|received|||||83,664|89,074|
|Interest received||||||18,811|16,244|
|Proceeds from sale|ofinvestments|||||3,213,570|389,848|
|Purchase oftangible
assets||||||(55,267)|(156,024)|
|Purchase ofinvestments||||||(258,194)|(413,183)|
|Net cash provided|by/(used|in) investing||activities||3,002,584|(74,041)|
|Increase in cash||||||3,260,087|799,048|
|Cash and cash equivalents||at|the beginning||of|||
|the period||||||4,310,565|3,511,517|
|Cash and cash equivalents||at|the end of|the||||
|period||||||K7,570,652|4,310,565|
|Analysis ofcash and cash equivalents||||||||
|Cash at bank||||||7,570,652|4,275,345|
|Cash held by investment
managers|||||||35,220|
|||||||$7,570,652|X4,310,565|
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|||||||
|---|---|---|---|---|---|
|FEEINCOME||||2020|2019|
|Gross tuition fees||||5,447,783|5,151,084|
|Less: bursaries||||(81,384)|(95,160)|
|Less: staff discounts||||(41,030)|(80,880)|
|||||5,325,369|4,975,044|
|Add: bursaries|funded|by restricted|funds|54,256|63,440|
|Net tuition fees||||5,379,625|5,038,484|
|Registration
fees||||15,800|25,100|
|Other fees and|extras|||240,868|381,123|
|||||S5,636,293|$5,444,707|
|4.|INVESTMENT INCOME|2020|2019|
|---|---|---|---|
||Dividends|83,664|89,074|
||Interest receivable|18,811|16,244|
|||E,102,475|5.105,318|
|5.|DONATION
AND GRANT INCOME|2020|2019|
||Furlough
grant|19,130||
||Bursary fund donations|24,378|82,642|
||Family
fund donations|23,535||
||Other donations|5,931|22,690|
|||f.72,974|$105,533|
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|6.|TOTAL EXPENDITURE|TOTAL EXPENDITURE||||Staff|Other||Total|
|---|---|---|---|---|---|---|---|---|---|
|||||||Costs|Costs|Depreciation|2020|
||Charitable
activity|||||||||
||Teaching costs|||||2,815,792|430,358||3,246,150|
||Welfare costs||||||235,083||235,083|
||Premises costs|||||75,511|750,885|383,079|1,209,475|
||Support costs|||||398,441|293,951||692,392|
||Grants, awards &prizes||||||89,340||89,340|
||Raising funds|||||||||
||Fundraising
costs|||||25,510|39,152||64,662|
||Investment
management||costs||||17,633||17,633|
|||||||$3,315,254|5.1,856,402|5383,079|X5,554,735|
||Governance
included|in support costs:||||||||
||Auditors
remuneration||||||||518,240|
||TOTAL EXPENDITURE||(2019)|||Staff|Other||Total|
|||||||Costs|Costs|Depreciation|2019|
||Charitable
activity|||||||||
||Teaching costs|||||2,666,135|561,093||3,227,228|
||Welfare costs||||||317,793||317,793|
||Premises costs|||||77,861|748,885|400,682|1,227,428|
||Support costs|||||356,263|248,133||604,396|
||Grants, awards A prizes||||||79,641||79,641|
||Raising funds|||||||||
||Fundraising
costs|||||25,729|39,833||65,562|
||Investment
management||costs||||30,920||30,920|
|||||||$3,125,988|X2,026,298|5400,682|55,552,968|
||Governance
included|in support||costs:||||||
||Auditors
remuneration||||||||K17,520|
|7.|STAFFCOSTS|||||||2020|2019|
||The average number ofemployees|||during|the year|||||
||excluding
Governors|was:||||||||
||Teachers|||||||45|45|
||Non-teachers|||||||10|12|
|||||||||55|57|
##
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|STAFFCOSTS (continued)|STAFFCOSTS (continued)||||||2020|2019|
|---|---|---|---|---|---|---|---|---|
|Staff costs during
the year|amounted|to:|||||||
|Wages and salaries||||||2,626,393||2,571,707|
|Social security costs|||||||251,425|244,746|
|Other pension
costs|||||||437,436|309,535|
|||||||$3,315,254||53,125,988|
||||||||2020|2019|
|||||||Number||Number|
|The number ofemployees|where emoluments||exceeded f60,000 were:||||||
|f.60,000 —f.69,999|||||||||
|f70,000 —f79,999|||||||||
|f.130,000-5.139,999|||||||||
|S140,000 —f.149,999|||||||||
|Total remuneration
ofkey
During the year there were|management
personnel
E2,538 redundancy
or|||for the year
termination|ended 31
payments|August 2020 was X497,084(2019:5450,454).
made (2019:fNil).|||
|No remuneration
is payable
to any Govern|ors. No Governors
were|reimbursed
any ex|penses (2019:N|il).|
|---|---|---|---|---|
|TANGIBLE FIXEDASSETS||Fixtures|||
|||Fittings and|||
||Land and|Computer|Motor||
||Buildings|Equipment|Vehicles|Total|
|COST|||||
|At 1 September 2019|9,796,212|1,256,728|68,579|11,121,519|
|Additions|44,]20|11,147||55,267|
|At 31August 2020|9,840,332|1,267,875|68,579|11,176,786|
|DEPRECIATION|||||
|At 1 September 2019|5,458,152|1,085,111|68,579|6,611,842|
|Charge for the year|316,830|66,249||383,079|
|At 31August 2020|5,774,982|1,151,360|68,579|6,994,921|
|NET BOOK VALUE|||||
|At 31August 2020|$4,065,350|$116,515||f.4,181,865|
|At 31August 2019|$4,338,060|f.171,617||54,509,677|
##
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|8.|TANGIBLE FIXEDASSETS|TANGIBLE FIXEDASSETS|TANGIBLE FIXEDASSETS|(continued)||2020|2019|
|---|---|---|---|---|---|---|---|
||Land and buildings|at net|book|value||||
||comprise|||||||
||Freehold
property|||||2,057,037|2,152,037|
||Leasehold
property|||||2,008,313|2,177,734|
|||||||j4,065,350|$4,329,771|
|9.|INVESTMENTS|||||2020|2019|
||At 1 September 2019|||||3,013,856|2,883,792|
||Additions|||||258,194|413,183|
||Disposals|||||(3,213,570)|(389,848)|
||Unrealised
(loss)/gain|||||(160,422)|106,729|
||Realised gain|||||101,942||
||||||||3,013,856|
||Cash held within portfolio||||||35,220|
||At 31August 2020||||||5.3,049,076|
||Historic cost||||||$2,734,153|
|10.|DEBTORS|||||2020|2019|
||Fees and charges receivable|||||1,254,379|854,920|
||Other debtors|||||4,815|2,795|
||Prepayments
and accrued||income|||118,978|231,397|
|||||||5.1,378,172|5.1,089,112|
|11.|CREDITORS: Amounts||falling due within||one year|2020|2019|
||Trade creditors|||||29,667|226,554|
||Fees charged
and fees received|||in advance||1,932,108|1,892,484|
||Fee deposits|||||66,000|70,000|
||Other creditors|||||120,863|60,064|
||Accruals|||||150,555|87,609|
||Social security
and|other taxes||||64,476|61,374|
|||||||f2,363,669|52,398,085|
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|CREDITORS: Amounts|CREDITORS: Amounts|CREDITORS: Amounts|falling due after one|year||2020|2019|
|---|---|---|---|---|---|---|---|
|Fee deposits||||||f632,000|$606,000|
|FUNDS|||Balance at|||Investment|Balance at|
||||1 September|Income|Expenditure|gains/(losses)|31August|
||||2019|||and transfers|2020|
|Unrestricted|funds|||||||
|General funds|||9,509,866|5,778,960|(5,476,341)|(58,480)|9,754,005|
|Restricted funds||||||||
|Bursary fund|||404,278|24,379|(60,676)||367,981|
|Family
fund||||23,535|(17,718)||5,817|
|School equipment||fund|8,618|2,720|||11,338|
||||f9,922,762|55,829,594|f(5,554,735)|f(58,480)|f.10,139,141|
##
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||FUNDS (2019)|FUNDS (2019)|Balance at|||Investment|Balance at|
|---|---|---|---|---|---|---|---|
||||1 September|Income|Expenditure|Gains/(losses)|31August|
||||2018|||and transfers|2019|
||Unrestricted|funds||||||
||General funds||9,287,617|5,588,897|(5,473,377)|106,729|9,509,866|
||Restricted
funds|||||||
||Bursary fund||401,026|82,843|(79,591)||404,278|
||School equipment|||8,618|||8,618|
||||f9,688,643|55,680,358|X(5,552,968)|f.106,729|f9,922,762|
|14.|ANALYSIS OF NET ASSETSBETWEEN|||FUNDS|Unrestricted|Restricted|Total|
||2020||||Funds|Funds|Funds|
||Fixed asset||||4,181,865||4,181,865|
||Net current assets||||6,204,140|385,136|6,589,276|
||Creditors
due|after more|than one year||(632,000)||(632,000)|
||||||5.9,754,005|X385,136|f.10,139,141|
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|14.|ANALYSIS OF NET ASSETS BETWEEN FUNDS|ANALYSIS OF NET ASSETS BETWEEN FUNDS||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
||2019|||funds|funds|funds|
||Fixed asset|||4,509,677||4,509,677|
||Investments|||3,049,076||3,049,076|
||Net current assets|||2,557,113|412,896|2,970,009|
||Creditors
due after more than one year|||(606,000)||(606,000)|
|||||f.9,509,866|5412,896|K9,922,762|
|15.|OTHER FINANCIAL COMMITMENTS||||||
||||||Land and|buildings|
||||||2020|2019|
||The future minimum
lease payments|under non-cancellable|operating|leases:|||
||Within one year||||340,000|340,000|
||Between two and five years||||1,360,000|1,360,000|
||After more than 5 years||||2,573,753|3,594,685|
||||||K4,273,753|$5,294,685|
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|22.|STATEMENT OF FINANCIAL ACTIVITIES|STATEMENT OF FINANCIAL ACTIVITIES|STATEMENT OF FINANCIAL ACTIVITIES|- COMPARATIVE FIGURES BYFUND|- COMPARATIVE FIGURES BYFUND|- COMPARATIVE FIGURES BYFUND|TYPE|
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|
||||||Funds|Funds|Funds|
||||||2019|2019|2019|
|||||Notes||||
||INCOME FROM:|||||||
||Charitable
activities:|||||||
||School fee income|||3|5,444,707||5,444,707|
||Other ancillary
income||||4,996||4,996|
||Other trading activities:|||||||
||Rental income||||19,804||19,804|
||Investment
income||||105,318||105,318|
||Donations||||14,072|91,461|105,533|
||TOTAL INCOME||||f.5,588,897|591,461|K5,680,358|
||EXPENDITURE ON:|||||||
||Charitable
activity:|||||||
||School Operating
Costs:|||||||
||Teaching costs||||3,227,228||3,227,228|
||Welfare costs||||317,793||317,793|
||Premises costs||||1,227,428||1,227,428|
||Support costs ofschooling||||583,153||583,153|
||Grants,
awards
and prizes||||21,293|79,591|100,884|
||||||5,376,895|79,591|5,456,486|
||Raising funds:|||||||
||Fundraising
costs||||65,562||65,562|
||Investment
management|costs|||30,920||30,920|
||TOTAL EXPENDITURE|||6|f.5,473,377|f79,591|K5,552,968|
||NET
INCOME/(EXPENDITURE)||BEFORE|||||
||TRANSFERS A|||||||
||INVESTMENT GAINS||||115,520|11,870|127,390|
||Net gains on investments||||106,729||106,729|
||NET MOVEMENT IN FUNDS||||222,249|11,870|234,119|
||BALANCE BROUGHT FORWARD|||||||
||AT 1SEPTEMBER 2018||||9,287,617|401,026|9,688,643|
||BALANCE CARRIED FORWARD|||||||
||AT 31AUGUST 2019|||13|f.9,509,866|$412,896|f9,922,762|