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|The Directors of|the|company
who served during
the ye|ar and since year end were:|ar and since year end were:||||
|---|---|---|---|---|---|---|---|
||||Dr M P Badenoch|||||
||||Rev Dr A K Bergquist|||||
||||H M Burgess (appointed||||9 March 2021)|
||||C M S Douglass|||||
||||M English|||||
||||EJDe Freitas|||||
||||JBProsser (resigned|||16|December 2020)|
||||M A Sahni (appointed|||15 June 2021)||
||||G J Savage (appointed|||9|March 2021)|
||||V Savage|||||
||||D Widdicombe|||||
||||A J D Woolf|||||
||||J H Zehner|||||
|REGISTERED|OFFICE||1 Loudoun
Road|||||
||||St John's Wood|||||
||||London|||||
||||NW8 OLH|||||
|AUDITORS|||Haysmacintyre|LLP||||
||||Chartered
Accountants|||||
||||10 Queen Street|Place||||
||||London|||||
||||EC4R 1AG|||||
|BANKERS|||The Royal Bank ofScotland Plc|||||
||||48 Haymarket|||||
||||London|||||
||||SW1Y4SE|||||
|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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|StJohn's Hospice|5,437|
|---|---|
|City Harvest|5,000|
|The Brain Tumour Charity|3,606|
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|FORTHE YEAR ENDE|D 31AUGU|ST 2021||||||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||Funds|Funds|Funds|Funds|
|||||2021|2021|2021|2020|
||||Notes|||||
|INCOME FROM:||||||||
|Charitable
activities:||||||||
|School fee income|||3|5,912,155||5,912,155|5,636,293|
|Other ancillary
income||||27,677||27,677|180|
|Other trading
activities:||||||||
|Rental income||||12,338||12,338|17,672|
|Investment
income||||3,165||3,165|102,475|
|Donations
and grants||||143|49,236|49,379|72,974|
|TOTAL INCOME||||f5,955,478|f49,236|56,004,714|E5,829,594|
|EXPENDITURE ON:||||||||
|Charitable
activity:||||||||
|School Operating
Costs:||||||||
|Teaching costs||||3,245,265||3,245,265|3,246,150|
|Welfare costs||||274,570||274,570|235,083|
|Premises costs||||1,540,845||1,540,845|1,209,475|
|Support costs ofschooling||||732,338||732,338|692,392|
|Grants, awards
and prizes||||20,862|81,445|102,307|89,340|
|||||5,813,880|81,445|5,895,325|5,472,440|
|Raising funds:||||||||
|Fundraising
costs||||63,832||63,832|64,662|
|Investment
management|costs||||||17,633|
|Finance costs||||87,637||87,637||
|TOTAL EXPENDITURE|||6|$5,965,349|$81,445|X6,046,794|55,554,735|
|NET
(EXPENDITURE)/INCOME||BEFORE||||||
|TRANSFERS dt||||||||
|INVESTMENT LOSSES||||(9,871)|(32,209)|(42,080)|274,859|
|Net losses on investments|||||||(58,480)|
|NET MOVEMENT IN FUNDS||||(9,871)|(32,209)|(42,080)|216,379|
|BALANCE BROUGHT FORWARD||||||||
|AT 1SEPTEMBER2020||||9,754,005|385,136|10,139,141|9,922,762|
|BALANCE CARRIED FORWARD||||||||
|AT 31AUGUST 2021|||14|59,744,134|K352,927|$10,097,061|10,139,141|
##
##
|||Notes|2021|2020|
|---|---|---|---|---|
|FIXEDASSETS|||||
|Tangible fixed assets|||13,428,002|4,181,865|
|Investments|||||
||||13,428,002|4,181,865|
|CURRENT ASSETS|||||
|Stock|||4, 102|4,121|
|Debtors||10|832,666|1,378,172|
|Cash at bank and in hand|||4,216,248|7,570,652|
||||5,053,016|8,952,945|
|CREDITORS: Amounts|falling due||||
|within
one year||11|(2,909,082)|(2,363,669)|
|NET CURRENT ASSETS|||2,143,934|6,589,276|
|TOTAL ASSETSLESS|CURRENT||||
|LIABILITIES|||15,571,936|10,771,141|
|CREDITORS: Amounts|falling due||||
|after one year||12|(5,474,875)|(632,000)|
|TOTAL NET ASSETS|||f.l0,097,061|f10,139,141|
|FUNDS|||||
|Unrestricted||14|9,744,134|9,754,005|
|Restricted||14|352,927|385,136|
||||S10,097,061|KI0,]39,141|
##
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||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
|Reconciliation
ofnet cash||inflow from|||||||
|operations|||||||||
|Net income before investment|||losses||||(42,080)|274,859|
|Depreciation|||||||514,820|383,079|
|Interest received|||||||(413)|(18,811)|
|investment
income|||||||(2,752)|(83,664)|
|Interest payable|||||||87,637||
|Decrease/(increase)|in stock||||||19|(484)|
|Decrease/(increase)|in debtors||||||545,506|(289,060)|
|Increase/(decrease)|in creditors||||||488,288|(8,416)|
|Net cash flow from|operations||||||1,591,025|257,503|
|Cash flows from investing||activities|||||||
|Investment
income|received||||||2,752|83,664|
|Interest received|||||||413|18,811|
|Proceeds from sale|ofinvestments|||||||3,213,570|
|Purchase oftangible|assets||||||(9,760,957)|(55,267)|
|Purchase ofinvestments||||||||(258,194)|
|Net cash (used in)/provided||by||investing|activities||(9,757,792)|3,002,584|
|Cash flows from financing||activities|||||||
|New borrowing|||||||4,900,000||
|Interest payable|||||||(87,637)||
|Net cash provided|by financing|||activities|||4,812,363||
|Decrease in cash|||||||(3,354,404)|3,260,087|
|Cash and cash equivalents||at|the beginning|||of|||
|the period|||||||7,570,652|4,310,565|
|Cash and cash equivalents||at|the end of||the||||
|period|||||||54,216,248|X7,570,652|
|Analysis ofcash and cash equivalents|||||||||
|Cash at bank|||||||X4,216,248|E7,570,652|
|Analysis ofchanges|in net|asset/(debt)||||At 1|Cash flows
Other|At 31August|
|||||||September|movements|2021|
|||||||2020|||
|Cash and cash equivalents||||||7,570,652|(3,354,404)|4,216,248|
|Short term borrowings|||||||(153,125)|(153,125)|
|Long term borrowings|||||||(4,746,875)|(4,746,875)|
|Net assets/(debt)||||||E7,570,652|$(8,254,404)|E(683,752)|
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|||||||
|---|---|---|---|---|---|
|3.|FEE INCOME|||2021|2020|
||Gross tuition fees|||5,775,401|5,447,783|
||Less: bursaries|||(104,440)|(81,384)|
||Less: staff discounts|||(41,774)|(41,030)|
|||||5,629,187|5,325,369|
||Add: bursaries
funded|by restricted|funds|70,530|54,256|
||Net tuition fees|||5,699,717|5,379,625|
||Registration
fees|||24,898|15,800|
||Other fees and extras|||187,540|240,868|
|||||$5,912,155|f.5,636,293|
|4.|INVESTMENT INCOME|||2021|2020|
||Dividends|||2,752|83,664|
||Interest receivable|||413|18,811|
|||||5,3,165|5,102,475|
|5.|DONATION
AND GRANT INCOME|||2021|2020|
||Furlough
grant||||19,130|
||Bursary fund donations|||21,808|24,378|
||Family
fund donations|||23,728|23,535|
||Other donations|||3,843|5,931|
|||||549,379|f72,974|
##
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|6.|TOTAL EXPENDITURE|TOTAL EXPENDITURE|||Staff|Other||Total|
|---|---|---|---|---|---|---|---|---|
||||||Costs|Costs|Depreciation|2021|
||Charitable
activity||||||||
||Teaching costs||||2,842,250|403,015||3,245,265|
||Welfare costs|||||274,570||274,570|
||Premises costs||||122,437|903,588|514,820|1,540,845|
||Support costs||||404,320|328,018||732,338|
||Grants, awards k prizes|||||102,307||102,307|
||Raising funds||||||||
||Fundraising
costs||||28,821|35,011||63,832|
||Finance costs —interest payable|||||87,637||87,637|
||||||53,397,828|52,134,146|f.514,820|X6,046,794|
||Governance
included|in support costs:|||||||
||Auditors
remuneration|||||||5.18,960|
||TOTAL EXPENDITURE||(2020)||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|$1,856,402|$383,079|X5,554,735|
||Governance
included|in support||costs:|||||
||Auditors
remuneration|||||||f18,240|
|7.|STAFFCOSTS||||||2021|2020|
||The average number ofemployees|||during the year|||||
||excluding
Governors|was:|||||||
||Teachers||||||49|45|
||Non-teachers||||||10|10|
||||||||59|55|
##
##
|STAFFCOSTS (continued)|STAFFCOSTS (continued)|||2021|2020|
|---|---|---|---|---|---|
|Staffcosts during the year|amounted|to:||||
|Wages and salaries||||2,675,898|2,626,393|
|Social security costs||||254,190|251,425|
|Other pension
costs||||467,740|437,436|
|||||$3,397,828|$3,315,254|
|||||2021|2020|
|||||Number|Number|
|The number ofemployees|where emoluments||exceeded 560,000 were:|||
|$60,000 —f69,999||||||
|$70,000 —f79,999||||||
|$130,000-f.139,999||||||
|5.140,000 —f.149,999||||||
|5,160,000 - $169,999||||||
|TANGIBLE FIXED A.SSETS||Fixtures|||
|---|---|---|---|---|
|||Fittings and|||
||Land and|Computer|Motor||
||Buildings|Equipment|Vehicles|Total|
|COST|||||
|At 1 September 2020|9,840,332|1,267,875|68,579|11,176,786|
|Additions|9,637,808|123,149||9,760,957|
|At 31 August 2021|19,478,140|1,391,024|68,579|20,937,743|
|DEPRECIATION|||||
|At 1 September 2020|5,774,982|1,151,360|68,579|6,994,921|
|Charge for the year|456,198|58,622||514,820|
|At 31August 2021|6,231,180|1,209,982|68,579|7,509,741|
|NET BOOK VALUE|||||
|At 31August 2021|X13,246,960|$181,042||f.13,428,002|
|At 31 August 2020|f4,065,350|f.116,515||K4,181,865|
##
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||TANGIBLE FIXEDASSETS|TANGIBLE FIXEDASSETS|TANGIBLE FIXEDASSETS|(continued)||2021|2020|
|---|---|---|---|---|---|---|---|
||Land and buildings|at net|book|value||||
||comprise|||||||
||Freehold property|||||11,450,602|2,057,037|
||Leasehold
property|||||1,796,358|2,008,3]3|
|||||||5.13,246,960|$4,065,350|
|9.|INVESTMENTS|||||2021|2020|
||At 1 September 2020||||||3,013,856|
||Additions||||||258,194|
||Disposals||||||(3,213,570)|
||Unrealised
(loss)/gain||||||(160,422)|
||Realised gain||||||101,942|
||Cash held within portfolio|||||||
||At 31August 2021|||||||
||Historic cost|||||||
|10.|DEBTORS|||||2021|2020|
||Fees and charges receivable|||||663,814|1,254,379|
||Other debtors|||||10,825|4,815|
||Prepayments
and accrued||income|||158,027|118,978|
|||||||f.832,666|f.1,378,172|
|11.|CREDITORS: Amounts||falling due within||one year|2021|2020|
||Trade creditors|||||219,499|29,667|
||Fees charged and fees received|||in advance||2,055,874|1,932,108|
||Fee deposits|||||52,000|66,000|
||Other creditors|||||79,716|120,863|
||Accruals|||||281,690|150,555|
||Social security
and|other taxes||||67,178|64,476|
||Bank loan (see note|13)||||153,125||
|||||||f2,909,082|f.2,363,669|
##
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|CREDITORS: Amounts|CREDITORS: Amounts|falling due after one year|2021|2020|
|---|---|---|---|---|
|Fee deposits|||728,000|632,000|
|Bank loan (see note|13)||4,746,875||
||||f.5,474,875|$632,000|
|BANK LOANS|||2021|2020|
|Bank loan maturity|analysis||||
|Amounts
falling due|within|one year|153,125||
|Amounts
falling due|1-2 years||204,167||
|Amounts
falling due|2-5 years||612,500||
|Amounts
falling due|more|than 5 years|3,930,208||
||||54,900,000||
##
##
|FUNDS||||Balance at|||Investment|Balance at|
|---|---|---|---|---|---|---|---|---|
|||||1 September|Income|Expenditure|gains/(losses)|31August|
|||||2020|||and transfers|2021|
|Unrestricted||funds|||||||
|General|funds|||9,754,005|5,955,478|(5,965,349)||9,744, 134|
|Restricted
funds|||||||||
|Bursary|fund|||367,981|21,808|(70,530)||319,259|
|Family|fund|||5,817|23,728|(10,915)||18,630|
|School equipment|||fund|11,338|3,700|||15,038|
|||||$10,139,141|56,004,714|5(6,046,794)||f.10,097,061|
##
##
|14.|FUNDS (2020)|Balance at|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||8,618|2,720||||11,337|
|||$9,922,762||f.5,829,594||X(5,554,735)|f(58,480)|f10,139,141|
|15.|ANALYSIS OF NET ASSETSBETWEEN|||FUNDS||Unrestricted|Restricted|Total|
||2021|||||Funds|Funds|Funds|
||Fixed asset|||||13,428,002||13,428,002|
||Net current assets|||||1,791,007|352,927|2,143,934|
||Creditors
due after more than|one year||||(5,474,875)||(5,474,875)|
|||||||59,744,134|5352,927|f10,097,061|
||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)|
|||||||K9,754,005|5385,136|$10,139,141|
|16.|OTHER FINANCIAL COMMITMENTS||||||||
||||||||Land and|buildings|
||||||||2021|2020|
||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||||||2,233,753|2,573,753|
||||||||53,933,753|X4,273,753|
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|23.|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|I"unds|
||||||2020|2020|2020|
|||||Notes||||
||INCOME FROM:|||||||
||Charitable
activities:|||||||
||School fee income|||3|5,636,293||5,636,293|
||Other ancillary
income||||180||180|
||Other trading activities:|||||||
||Rental income||||17,672||17,672|
||Investment
income||||102,475||104,275|
||Donations||||22,340|50,634|72,974|
||TOTAL INCOME||||5,778,960|50,634|5,829,594|
||EXPENDITURE ON:|||||||
||Charitable
activity:|||||||
||School Operating
Costs:|||||||
||Teaching costs||||3,246,150||3,246, 150|
||Welfare costs||||235,083||235,083|
||Premises costs||||1,209,475||1,209,475|
||Support costs ofschooling||||692,392||692,392|
||Grants, awards
and prizes||||10,496|78,394|89,340|
||||||5,394,046|78,394|5,472,440|
||Raising funds:|||||||
||Fundraising
costs||||64,662||64,662|
||Investment
management|costs|||17,633||17,633|
||TOTAL EXPENDITURE|||6|f.5,476,341|f78,394|f5,554,735|
||NET
INCOME/(EXPENDITURE)||BEFORE|||||
||TRANSFERS dt|||||||
||INVESTMENT LOSSES||||302,619|(27,760)|274,859|
||Net losses on investments||||(58,480)||(58,480)|
||NET MOVEMENT
IN FUNDS||||244,139|(27,760)|216,379|
||BALANCE BROUGHT FORWARD|||||||
||AT 1 SEPTEMBER2019||||9,509,866|412,896|9,922,762|
||BALANCE CARRIED FORWARD|||||||
||AT 31AUGUST 2020|||14|f9,754,005|f385,136|f.10,139,141|