CI THE CAVENDISH SCHOOL
The Cavendish
School
Charitable
Trust
Limited
Annual Report and Financlal Statements
31 Augusl 2022
Company Llmiled by Guarantee
Reglslration Numb8r
987480 (England and Wales)
Charlty Reglstrallon Number
312727

CONTENTS
Rgports
Legal and administrative Information
Governors, report {incorporatlng a
strategic reporti
Independent audllor's report
15
FlnanGlal Statem8nt8
Slalemenl of financlal acllvllie$
20
Balance sheot
21
Statement of ¢ash flows
22
Prlnclp81 accountlng policles
Notes to the flnanclal statements
23
The Cavendish School Charitable Trust Limited

LEGAL AND ADMINISTRATIVE INFORMATION
Govemors
S Bettlson
B Crystal
G Fontain8
A M Gollo (Co.Chalr of Governors}
K Hake
E Molnar
A Pangonis
D Phillips (Chair of Flnance and General Purposes
Commilleel
N Rushlon (Co-chair of Governors)
E Saudl lappolntod 28 Septèmber 2022)
A Tsol
M Webster
Head
T Lombard
Secretary
S Chen Coopèr
8ur8ar and Clerk to the Govérnors
S Chen Cooper
R8gl8t•r•d Prlnclpal offlce
The Cavèndlsh School
31 Invem888 Streèt
London
NW17HB
Tolophone
020 7485 1958
Websltè
WW.Gavendish choo
Company roglstratlon number
987480 (England and Wales)
Charlty reglstration numbar
312727
Audltors
Moore Klngston Smith LLP
Floor 6
9 Appold Street
London
EC2A 2AP

LEGAL AND ADMINISTRATIVE INFORMATION
Bankers
Lloyd5 TSB Bank pl¢
140 Camden High Street
London
NW1 ONG
Sollcltors
Harrison Clark RickeTbys Ltd
Ellenborough House
Welllngton Street
Cheltenham
GL50 1YD

GOVERNOR'S REPORT (including a Strategic Report)
For the year ended 31 August 2022
The Governors (who are also directors of The Cavendish School Charitable Trust for the purposes of
company law and trustees for the purposes of charity lawl present th¢ir statutory report together wllh
the financial statements of The Cavendlsh School Charitable Trust Limited l¢ompany reglstralion
number 987480 {England and Wales)) (the'chartlable company") for the year 8nded 31 August 2022.
The reporl has been prepared in accordance with Part 8 of the Charitles Act 2011.
The financlal slatemgnts have been pr8p8red In accordance with the accounting policies sel out on
pages 20 10 35 of the attached flnancial statements and comply with the charitable company's
memorandum and artlcles of 8ssoGiatlon, the Companies Act 2006 and Accounting and Reportlng by
Charities.. Statgment of Recommended PractlGe applicable lo chariti88 preparing their financial
stalemenl$ in accordance with ths Flnanclal Reportlng Stsndard appllcable In th8 United Klngdom and
Republic of Ir61and (FRS 1021.
Legal status
The charltabla company Is conslilutgd as a company Ilrnlled by guarant66 and not h8vlng a shar8
eapi181. The members, who are also Governors, are Ilable to contrlbute an amount not exce&dlng £1
&ach In the event of wlndlng up.
The ch8rltsblg company was Incorporated on 20 August 1970 by Mèmorandum of Assoclallon,
Prlnclpal alm8 and object8
The prlnclpal alms and objects of the charllable company are the advancemènt and promotion of
education and, In partioular, the runnlng of The C£v6ndlsh School In Camden Town, London Ilhe
'school"l.
Ml8slon
We aim lo provlde..
• A non-seleclive, high-quallty, carlng and dlverse learnlng environment that promotes and respects
a learnlng partnershlp b$lween homo, school and the wlder communlly, making the m05t of what
London has lo offer.
An educational approach that is always cenlred on and 8ensilive to th¢ indivldual needs of puplls
and supports them lo b8come resilient, confident, posllive, flexible ar)d independent learners. Our
pupils are prepared for the future.
A broad, balanced, slimulallng and challenging currlculum wlth enriching extra-curricular
opportunllles so th8t puplls Can reach their full polenllal in all areas of their learning and
development,
A welwming, nurturing. vibrant, Safe and sustalnable learning environmenl.
An excellent preparation for pupS1s lo move confi'dently to the next stage of th8lr learring wllh the
opportunity to develop tho skills, knowledge and understsnding lo become posiuve and confident
lifelong leamers and role moclels.

GOVERNOR'S REPORT (including a Strategic Report)
For the year ended 31 August 2022
An environment that celebrates and buikls on our origlnal foundation ol Calhollc values and
wolcomes those from all faiths and none.
Through..
Appoinlmonl, recnjllment and development of a skllled and empalhetlc teaching and support Staff
of the highest calibre,
Effective leadershlp and management that can provide a strategic vislon for the 8chool.
We see ourselv68 as a Garing, incluslve, non-seleclive communlly of indlvldu8ls who gnloy worklng
logether to support and appreciate each oth8r's personal development and love of16arnlng. We are
committed lo provlding equallty of opportunity.
Publ1¢ benoflt
Tha Charllles Act 2006 made chang88 whlch affect the school, prfncipally removlng the presumpllon In
law that eduG8tion is for public benefll. The effoct of th15 Is a roqulrement that eduGg1ional ¢harlti88
dsmonstrale tha publlo benefit they provid¢. The Charlty Commlsslon h8s provided guldelin85 on the
changes togelh8T wlth an an81ysl$ of the law affecting charitles. Theso documents have begn
consIde￿d by the Govgrnors, who are ¢onfidanl that tha charitable company is operating in the Snterest
of the publlc. Furtherm¢r8, the object of Ihg charllabla company is the advancement and promotlon of
Qducatlon, specifically th8 runnlng of the Cavandlsh School for, but not oxcluslvely for, ehildren of the
Roman Catholic faith, whlGh 1$ a charltsble purpose wlthln thè meanlng of the Ch8rlties A¢t 2011.
Th1$ report 18 doslgrted to meet tho Charity Commlsslon'8 requlrement to des¢rlbe the public benefit
providgd by the charltable company. The paragraphs below describe the varlous ways in whl¢h the
Governors belleve Ihal the charitable company provldes publlc benefll.
+ The malor public benefit the school provides is a rlch and diverse educallon, wllhoul recourse to
the public purse and a strong ethos of 8 Posltlve contrlbution to our local communlty. Much of tho
curriculum laughl follows the areas prescribed by law for slate schools, on the basis il is considered
es5enlal for a 8ucc6s$ful society. Consequently, Its provision Is to benefit Ihe public.
The school Is open to all and Governors aim to make it as affordable as reasonably possible.
consistent with the alm of providing a hSgh44ualty education Sn a small school gnvlronment.
Durlng the last year, the school awarded bursaries to slx pupils whlch covered 20% 10 100% of Iheir
fees.
The school a180 has a Bursary Fund from whi¢h award5 were made at the di8crelion of the
Governors. Th8 Fund and the school's Bursary Policy were advertlsed on the school's website.
Dudng the last year, Ihg school also gr8nted hardship awards to a pupil which covered 24% and
42Vo of Sprlng and Summer term fees, respectively.

GOVERNOR'S REPORT (including a Strategic Report)
For the year ended 31 August 2022
Public beneflt (Gonllnued)
• Tho Head also operates a hjnd lo assist pupils from less wellwoff families With support for
educational assessment, muslo lessons and uniform.
As part of thè commllment to promollng educallon the school also provides training for teachers of
around £10,000 for the year. Providing teachers with addltional skills, who in turn w511 use these
skills al The Cavendish School or other schools, is for the benofit of the wider public.
• We also work in partnership with other sehools. Puplls from two local schools joined our puplls for
a talk from Afua Hir$¢h on how Afrlca Is percelved and for a Royal Inslilulion Science In Schools
event. Cavendish parent volunteers also provlde weekly reading support to 8 lo¢al school.
• Following the appolnlment of a Co-currlcular and Partn8rshlps Co•ordlnator, efforts to share the
school'8 facilllies with local 8choo18 will increase and reciprocal training has b8an sel up for the new
yegr.
• Slneo May 2022, 0 Ukralnlon group has bo¢n u$lng tho sehool's premls&s for Ils weekly meellngs
that inform, support and advocate for refugee families In Camden. Children play while adults and
Ih8lr hosts are helped wllh medical, lob and houslng advlc8,
• The Cavendlsh also h89 8 long-standing collaborallon wllh the Instllule of Educallon, the educ8tSon
school of Unlversity College London, whlch speciallses In postgraduate study and research in the
flold of 9du¢allon. Sludenls aro usually offgwd work plaoemenls dudng the school year, provldlng
opportunilles lo observe, make ass&ssmenls, ass181 and teach, complete tasks and to engage Sn
reflectlve discu8slon, In addlllon, they are providod with advlce and support in relation lo the
plannSng, pr8parallon and as888smenl of children and the management of behavlour. One member
of the Senlor L&adershlp Team has lolneé th$ R•¢rullmont Pan&1 whl¢h me•ts sevoral Ilmes durlng
the Autumn, Spring and Summer terms In order to IntOTvlew and assess potential sludenl teachers.
As part of the educational goal of good cltlzenshlp, the school's puplls and thelr famllles are
encouraged ar)d en8bl$d lo tako an interest in local and national issues. As a practical consequence
of this, the school's pupS1s ralsed funds for a range of local and nallonal charllles durlng the year.
We estimate that the value of these actions is approximately £70,000, equivalent to around 20h of the
total revenues of the school.

GOVERNOR'S REPORT (including a Strategic Report)
For the year ended 31 August 2022
STRATEGIC REPORT
Governance. structure and management
• Governance
The Board of Governors Is responslble for settlng aims an(1 agreeing on a strategy for the school,
r8cruillng and assesslng senior management and for ensuring frameworks exlst lo meet legal,
flnancial and regulatory obligations. Management of the school Is the respongibSllty of the Head and
the management leam.
Tre school has B rol￿ng programme for revi8wing procedures and policies. All are raviowed at l&ast
once every three years or more frequenlly should changes in l@glslallon or clrcumslance require.
The Governors WOLtld like to expre55 their thanks to th8 H8od, Senlor Management Team and the
entir8 Staff for their hard work during tha yaar, for the progress that has been made Iri the school
durlng Ihe p8rlod and for thalr considerable efforts durlng tho perlod of nallonal lockdown. The
Govèrnors also thank the parents and carers who contribute so willingly and generously to Iho1Sfe
of the $¢hool and all the offlcors of the Friends of the Cavendish (see18l&rl.
• Gov•rnors
The following officers servéd throughout th@ year, except where shown:
Governors
AppolntedlReslgngd
S Bettison
B Crystal
D Philllps
G Fontaine
AMGotto
K Hake
E Molnar
A Pangoni8
N Rushlon
E Saudi
A Tsol
M Webster
Appoinled 26 September 2022
Secretary
S Chen Cooper

GOVERNOR'S REPORT (including a Strategic Report)
For the year ended 31 August 2022
STRATEGIC REPORT l¢or)linued)
Governance, structure and management (continued)
Non& of th8 Gov8mors received any remunerallon in respect of their services as gov@rnor8 during
the year {2021 £nll).
out￿f-poCket expenses of £274 were relmbursed to three Governors durlng the year {2021- £4851.
Three12021 five) Govemors who are also parents had chlldren att8ndlng the school durlng th¢
financial year. Fee8 paid by the Governors are the same as fees paid by others. Al the year-end,
the School wa8 owed £nil12021: £nill by any Governor.
Tho sehool ha8 purchased Insur8nce lo pmt8¢t th¢ school from loss arlslng from th6 neglect or
defaults of Its Govornors. The insurance premium payable by the school during the year totall8d
£1,02012021- £1,195) and provld•s cover of up to a maxlrnum of £2 mllllon.
• Appolntm•nt of Govemors and tralnlng procedures
New Governors are el¢¢ted by a consensus of existing Governors and may serva for a perlod of
three years before belng rgqulred to 8t8nd for rfrelecllon.
Th8 Governors havo pul In place a system whereby Indlvldual Govemors hav8 nominated Ilnk$ with
Individual lea¢hgrs and currlculum argas to enhan¢e the Ilnk5 be￿een Govomors and the te8ching
staff and wlth the raspon8lblllty for Early Years Foundatlon Stage {E.Y.F.S.I, safeguarding, ho81th
and safely and ¢ompllance.
The Governors are members of the Associallon of Governlng Bodles of Indep8nd8nl S¢hools. The
Governors are offered the opportunlly lo atiend semlnars and conference8 and regular Iralnlng to
maintain their expertlsa In governance Issues.
Key management personnel
The Governors consider that they, together with the Head and the Senior Management Team,
comprise th8 key management of the charity In charg¢ of dirocllng and conlrolllng, runnlng and
operating the s¢hool on a day-to4ay basis.
Th8 remunerallon of key management personnel Is sel by the Finance and General Purposes
Committee and is confirmed by the Governing Body, Note is takon of market conditions, national
and local p8y scales and levels of performance.
The Head and the Bursar have annual rtviews where their largels are agreed uponlreviewed with
Governors. The rest of the Senior Management Team has biennial performanGe reviews where
thelr targèts are agreed uponlreviewed wlth the Head.

GOVERNOR'S REPORT (Including a Strategic Report)
For the year ended 31 August 2022
STRATEGIC REPORT Icontinuedl
Governance, structure and management Icontlnued)
The Senior Managem8nt Team consists of:
T Lombard
R Prilcheti
l Boyt
H Edwards
J Hodgson
S Chen Cooper
Head
Asslstanl Head & Head of Exprasslve Arts
Senior Deputy Head
Deputy Head (Ac8demicl
Deputy Head (Paslorall
Bursar & Clerk to the Governors
Committèés
Thè general school governan¢e continuod wllh regular Board and sub-oommltte8 meellngs.
The composlllon of the 8ub-Gommlttees for this year was as follows:
Educatlon
Flnanca & Génaral Purpo808
S Bettlson
G Fontalne
K Hake
A Tsol
M W$bster (Chalrl
B Crystal
E Molnar
D Phllllps {Chair}
The two C￿chaIrS of Governors are ex-offi¢lo members of both committees.
statement ol Gov•mors' responslbllltles
Th9 Governors (who are also dlreclors of The Cavendlsh SGhool Charitable Trust for the purposes
of company law and trustees for the purposes of charity law) are responsible for preparlng the
Governors, report, the slratoglc report and flnanclal statements In accordance with appllcable law
and United Kingdom Accounting Slandards (United Klngdom Generally A¢cepted Accounllng
Practioe).
Company law requires the Governors lo prepare financial statements for oaGh financlal year which
glve a true and fair view of thg State of affairs of th8 charitable company and of the incoming
resources and application of Tesour¢es, including the in¢ome and expenditure, of the charitable
Gompany for that period. Under company law, the Governors must not approve the financial
statements unless they are satisfied that they give a true and fair vlew of the state of affairs of the
charltable company and of the incomlng resources and appllcatlon of resources. including the
income and expenditure, of the charllable company for that period.

GOVERNOR'S REPORT (Includlng a Strategic Report)
For the year ended 31 August 2022
STRATEGIC REPORT IGontinued}
Governance, structure and management (contlnued)
In preparing these financSal stalem6nts, the Govemor8 are required to.,
• select sullabl& accounting policies and then apply them consislenlly.,
• obs&rv9 the methods and prlnciples of Accounllng and Reporting by Charities.. Slalemenl of
Recommended Pracllce applicable lo chanli8s preparing their financlal statements In
accordanc8 wlth the Financial Reporting Standard applicable In the United Kingdom and
Republic of Ireland (FRS 102}:
• make judgemen18 and esllmales that ar6 rèasonable and prud8nt',
• slate whalher appllcable Unlled Klngdom A¢counling Sland8rds have b8en followed, 8ubl•ct to
any malerlal departures dlsclosed and explalned the financial slatem8nls' and
• prepare thé flnanclal statements on thè going concern basls unle8811 is Inapproprlale lo presume
that the charllabSe company wlll continue In oporalion.
Th$ Govgrnors are r6sponslble for keeping proper accounting records Ihal dlsclose wlth reasonable
accuracy at any lim9 the flnancial poslllon of the charllable company and enable them to ensure
that the ff nanclal stalemanls comply with the Companies A¢1 2006. They ara also r•spon8ibl8 for
safeguarding the a8S818 of Ihe charltable company and hence for laklng re88onablg steps for tha
prevenllon and d8lectlon of fraud and other irregularltles.
Each of the Govemors confirms that..
• so f8r as the Governor Is aware, there 1$ no relevant audit infomiallon of whbch the ch2rflable
company's auditor 1$ unaware., and
Th8 Governor has taken all the steps that helshe ought to have takon as a Governor In order
lo make himselflher8elf aware of any relevant audll Information and to estsbllsh that the
ch8ritabl8 company's auditor is aware of that infomiation.
This conflrmalion is given and should be inlerpreled in accordance with the provlsions of 8418 of
the Compar)les Act 2006.
The Governors ar8 responslble for the malnlenance and inlegrity of the flnancial information
Included on the charitable company's website. Leglslalion in the United Kingdom gov&rning the
preparation and dlssemlnallon of flnancial statements may differ from 18gislalion in other
jurisdiGtions.

GOVERNOR'S REPORT {including a Strategic Report)
For the year ended 31 August 2022
STRATEGIC REPORT {continuedl
Governance, structure and management {¢onlinu•dl
+ Working wlth other organisations
Frlends ofthe Cavendish
The Governors reiterate their gralllude to the Friends of the Cavendish for thelr support during the
year. Fundralslng after the pand8mlG wa$ resumed in September 2021,
+ Rlsk management
In Ilne with th8 requirement for Governors to undertake a rlsk assessment exercise and report on
the same in their annual report, the Governors have looked at the risks the school currently faces
and have reviewed the measures already In place, or neodlng to be pul in place, to deal with them.
The Governors have idonlified four maln areas where risks may occur..
SlratÈgl¢
Operational
Fin8ncial
Regulatory
8trategl¢ conslders the long-t8rm health of th8 school. It 18 concomgd wllh orèas such as pupll
numb8r8, Staff r8cruilment and rèlenlion, quality of management, financlal management and
IdenUfl¢allon of changes lo the school envlronmenl.
Operatlonal looks at the risks inherent Sn the school's 8clivltles including the operallon of Ils school
reputational, communication wllh parents. trainlng. the su1tablllty of teachlng r9s0urces arsd
bulldings, malnlenan¢e, health and safety, safeguarding of chlldfen. dl$aster plannSng, etc.
Along wlth all other organSsation5 whlch work wllh ¢hlldren, the Governors recognise the absolute
neoessily of ensurlng the prolectlon and safely ol all those the school setves. This means that all
staff, including perlpatelic staff, have to undergo a cheGk with the Disclosure and B8rrlng Servlce
{previously the Crfminal Records Bureau} and other exten$lv& pffj-recrultment chècks. In addition
to this, all staff receive child protection tralning whlch is updated a mlnimum of on¢e per y6ar,
Additionally, there is a designated Governor assigned to safeguard5ng children.
The safeguardlng policy aims lo oulline the role IhBI The Cavendish School ha5. the procedure that
staff should follow and the guidance issugd on pupil protection generally. All stsff musl ensure thet
the needs and safely of the pupils are al the forefront of their practice. In Ihelr day-to-day ¢ontacl
th individual pupils, leachers and other staff are particulady well placed lo observe outward slgns
of abuse, changes in behaviour or failure to thrive.
Financlal risk¥ include those relating lo budgetary control, fraud and money laundering. spendin9,
aG¢ounling, bomwing pollcles, elc. and the ￿ed to ensure adequate cash IEOW coverage and
reserves lo meel future needs.
10

GOVERNOR'S REPORT (including a Strategic Report)
For the year ended 31 August 2022
STRATEGIC REPORT {conlinu¢dl
Govemance, structure and management Icontinuedl
Long-18rm forecasling of pupll numbers continues lo be diffiGult and Governors are mindfvl of the
continuing need to raise the profile of the school, maintain and further enhance good working
praclicos and continue lo achi8ve an Excellent grading in Inspections. The Senior Management
Team. overseen by Governors, works with an Admissions and Marketing Officer lo overso0
marketlng strale9ie8 and ensure that they are allgnecl with the key strategic aim8:
1. To develop the buslness moéel.
2. To improve thè quality of provislon.
3. To develop structure8 to 8LlPPOrt the plan.
Regulatory looks St th8 effects of 9ovemment policles, th¢ ¢onsequen¢es of naw 18W8 and
regulations, 81¢,
A¢tlvltlès, spè¢lflc obJectlv88 and relèvant pollcles
Aotlvltles andspeclN¢ objectlves
The prlnclpal actlvlty of the charSlable company In the year under revlgw was the runnlng of The
Cavendish School, whlch was orlglnally eslabllshod to provlde a Cathollc education for glrls aged
belw$en three and eleven wlth siblirkg boy8 lo age seven.
+ Volunteers
The Governors would Ilke to thank all the parents for thelr much-valued conlrlbulion lo the school
community. Parents have partl¢ip8led in acllvilies such as fundraislng for local and international
Gharllles, unlform sales and 6duc8tional vislls as well as sharing the benefits of their professional
exp$rtlse.
Flnanclal reviow
Resutts for the year
Income for the year wa$ £3,621,88312021- £3,373,554}, including £3,398.307 {2021- £3,285,235) In
respect of gross school fees and £44,412 {2021- £50,786} irb resp8cI of lotal bursarles. Expenditure
was £3,459.706 {2021- £3,283,845). Expenditure ir)cludes £2,403,280 {2021- £2.439,434) In respgcl
of staff cosl$,' £22.076 {2021-£25,717) lor intere81 on thè bank loans and £170,98912021- £178,011 >
in respect of depreciation ¢harges.
The net income for the year was £162,15712021- £89,709).

GOVERNOR'S REPORT (including a Strategic Report)
For the year ended 31 August 2022
STRATEGIC REPORT Iconlinuedl
Financlal review Icontlnued)
ReseJV8S policy
The Governors have examined the requirement for free reserves (also referred lo as the general frjndl,
i.e. thos$ unreslri¢ted funds not invested in tangible fixed assets. designated for specific purposes or
Othe￿Ise Committed, The Governors consider that, glven the nature of the school's work, the level cf
fr¢e reserves should be equival8nt to the termly expenditure at any on8 time. Based on current
expenditure levels thls should be in the region of £1,000,000. The Governors belleve that Ihls lev81 of
re5erve8 would provide suffic16nt flexibility to respond lo unforesegn em8rgencies whi181 sp8clfic action
plans are imp18mented. In addltion, th6 school retains a healthy c86h roserve that18 capable of meeting
anticipated fulurè118billtl$s.
nanclal posltlon
The balance shael shows tolol funds of £5,074,647.
The tangible fixed assets fund of £3,680,197 represents the nel book valu8 of the 5¢hool'8 tangibl8 fixed
assets less the related borrowlngs.
General funds of the $¢hool al 31 August 2022 ara £1.268,201 and the Head's Dlscrgllonary fund was
£5,240,
Ovorall. the Governors conslder the 8ffalrs of the school to be Satisfactory but they are aware of the
need to monllor Its r8sourcos closely., th& poléntlal flnanclal issues faclng independent schools; and th9
negd to constantly monitor budg&l$ and forocasls.
Flxod assets
The main asset of the school Ss the freehold bulldlng.
A¢quisllions and disposals of flxed assets during the year are recorded in the notes to th8 fln8nclal
8latgments.
Summary
The 2021-2022 financial year saw an Improvement In trading condlllons for the school as the negative
effects of Covid eased. Th8 School eNded the year with a surplus of £162k and a cash balance of
£2.6m. Income increased by 7.7Vv year-on-year, returning to 201912020 levels. Thi5 was driven by a
material increase in income from clubs, after school care and letlings offsetting a small decline In
average pupil numbers from 215 10 211. Costs increased by 5.7DA, reflecting broader economic
developments. While the School elected to increase salaries in the second half, total salary costs for
the year fell, reflecting a slighdy smaller head¢ount year-on~year.
Despite thls Improvement, a significant and Sustained Increase in UK inflation presents challenges for
the School. For example. signlficant increases In the ¢ost of living could cause some families to
reassess household Èxpenditure, and while School's energy priGes are largely fixed Lsnlil late 2024, its
costs have risen materially in other areas. Separately. the proposed removal of buslness rate r@Ilef
represents a significant futur8 headwind al an estimated additional cost of £160k a year-approximately
equal to the School's avorage annual surplus over the p8St four years.
12

GOVERNOR'S REPORT (including a Strategic Report)
For the year ended 31 August 2022
STRATEGIC REPORT Iconlinued)
Flnancial review Iconlinued)
Nonetheless, the Board remains focused on managing these challenge5 8nd maintaining a disciplined
and prudent approach lo financial management.
Cash levels are continuously mor)itored, and the School ensures at least a term's worth of expendllures
is readily available. This year the Board elected lo lake advantage of higher interest rates and deposlled
£1m of SUTplus cash In three separate savings facilities with well-known UK banks.
Fees for 2022-2023 were inereasgd, ensurlng the School remained on a financlally prudent ft)ollng and
al th8 compelilive end of market pricing. An incr6ase in school fegs in 2023-2024 Is highly likely given
underlying inflation levels.
Flnally, a sub-committee has been formed to review staff salary 18vels and ensuro these remain
competitive versus the broader Industry and commensurate with hlghor living costs.
Acknowledgement
The Governors would IlkG to express thelr thank$ lo those Cavendlsh leaver8 who generously donated
Ihelr deposits to the s¢hool's Bursary Fund,
Future plans
The sgnse of energy and enthusiasm In the School highllghted in 18St year's report has continued
unabated, wllh the Head conllnulng lo prove a gTeal success and rleveloping excellent relationships
wllh the Gov6rnors.
Financial challenges for the school continued posl-covld, bul118ppears that these have now,bottomed
out. This is evldenced by conslderably heallhler than predicted nurnbers overall. In p2rticular. there is
good-slzed cohort In the Nursery thls year which will feed into Reception in 2023 and a very strong
conversion rale for applicants for oGGasional vacancles al all levels In the school. The Head and the
Admlssions Officer have worked closely togelhor lo improve the markellng offering, in particular with
8xcellenl use of social media lo increase the school's online presence. This has resulted in a marked
Inerea8e in interest in the school with Individual family tours happening almost every day and regular
open momings for groups. The school is also In the middle of a comprehensive Brand Strategy proje¢l
lo further enhance the school'3 Pfofile and give a clear rnes5ago to prospective parents about Its core
values and strengths.
The Head and the Bursar work extremely well together and remain closely f(Kused on the school's
rinanoos. Although numbers have improved we are mindful that the current cost of living cThsis may
imp2cI families wllhin the School and pupil numbers. We are confident that the school's current healthy
financial posilign will enable the school lo weather this. should 11 prove lo be the case.
Th9 School will conllnue to offer its broad and balanced Curriculum and provide numerous enrichrnenl
opportunities for pupils. including the greater use of Regent's Park for outdoor activities introduced by
the new Head, numerous duriNg and after-school clubs. and increased opportunities to play team
sports.
13

GOVERNOR'S REPORT lincluding a Strategic Report)
For the year ended 31 August 2Q22
STIUTEGIC REPORT leontlnuedl
Futur6 plans {wnlinuedl
Thg Head hasworked hard to develop$trong re￿tI￿n9￿1￿witb the hoadsofa broad r?ngo ofsecondary
8chool$. The school 8chieved excellent results in the 11+ U)is year, wlth the focug f$Fnairsing on g
commllmgntkn malthing Year 6 girts to Iho Secondary school most 5Uit8ble to them.
Govemc¥8 report Ilnoludlng tho otrdleglc r¢port> approvgd by the Governors and siyntsd on th$ir b8n8ir
by-
AGotto and N Aushlon
Governors ofThg Ca￿nd1$h School Chirftabl? Trust
GompODy ￿l$tration number
987480 (England and Wale51
Appr¢w8d by the Govornors on,.
14

INDEPENDENT AUDITOR'S REPORT TO THE GOVERNORS OF THE
CAVENDISH SCHOOL CHARITABLE TRUST LIMITED
For the year ended 31 August 2022
Oplnlon
We have audlled the financial 8tstemenls of The Cavendlsh School Charttable Trust Llmiled {'Ihe
company'l for the year ended 31 August 2022 whlGh comprlse the Slatemenl of Flnancial Aclivilies, the
Balance Sheet, the Cash Flow Statement and notes lo the financial slat&m$nls, includlng significant
a¢counting poli¢los. The financial reporting framework that has been applied In their preparation 18
applicable law and Unlt$d Kingdom Accounting Standards, includlng FRS 102 'The Financlal Reporting
standard AppliGable In the UK and Republic of Ireland, {Uniled Klngdom Generally Accepted
Accounting Practice).
In our oplnion the financlal statements..
glve a true and falr view of the slate of the Charllable comp8ny'8 affalrs as at 31 August 2021
and of Its Incomlng r88ources and application of resources, in¢ludlng its Income and
expenditure. for the year then 8nded',
hav& been properly prepared in accordance with Unlted Klngdom Generally Accepted
Accounllng Practlc¢', and
hava been prepar8d in accordance wllh the r&qulremants of Ihg Companles Act 2006.
Ba81$ for oplnlon
We conduclad our audit In accordanc8 wllh Inlernatlonal Standards on Audlllng {UK} {ISAs {UKII and
8ppllcable law. Our responslbilllles under tho88 standard8 are further described In the Audllor's
Rospon81bilities for the audit of the flnanclal statoments 8ectlon of our report. We are Independent of
the charitabl8 company In accordance wllh the ethical requirement8 th81 are rel8vanl to our audit of the
ftnan¢ial statements In the UK, includlng the FRC'3 Ethical Slandard, and we have fulfllled our other
elhl¢al responslbllitles In accordance wllh Ihe8e requir@ments. We b8lleve that the audit evidence we
have ObtaIn￿ Is sufflclent and approprfste lo provlde a basls for our oplnlon.
Concluslons relatlng to going concom
In auditing the financlal slatemonls, we have concluded that tho trustees, use ofthe going concern bas18
of ac¢ounling in the preparation of the financial statements Is appropriate.
Based on th& work we have performed, we have not Identified any materlal uncertainties relatlng lo
events or condition8 that, Indlvldually or collȢlively. may Gast slgnificanl doubl on the charitable
¢ompany's ability to ¢onlinue as a going concern for a period of at least twelve months from when the
financial statements are autho￿sed for issue.
Our responsibilllies and the responsibililies of the trustees wlth resp8cI to golng concern are described
in the relevant sections of this report.
15

INDEPENDENT AUDITOR'S REPORT TO THE GOVERNORS OF THE
CAVENDISH SCHOOL CHARITABLE TRUST LIMITED
For the year ended 31 August 2022
other informatlon
The other infomialion comprise5 the informallon included in the annual ￿pOrt, other than the financial
statements and our auditor's report Iher8on. The trustees are responsible for the other information
contained within the annual report. Our opinion on the financial statements do6$ not cover the oiher
Informatlon and, except to the exlenl otheNise explicitly slated in our report, we do not express any
fomi of assurarsce conclLJsion Ihereon,
Our responslbility is lo read the other informatlon and, In dolng 80, conslder whether the other
information is materially Inconsisternt with the financlal statements or our knowledgè obtained in the
course of the audit or otherwise appears to be materially m15Stated. If we Identlfy such malerfal
Inconslslencies or apparent material mlsstalemen18, we are requlrad to determine whèther there 1$ a
material mlsststemenl in the fln8nclal statements themselves, If, based on tho work we have performed,
we conclude th8t there is a material mlsststem8nt of this other information, we are requlred to rgport
that fact.
We have nothlng to report in thls regard,
Oplnlons on othor matters pr8scrlb•d by the Companle8 Act 2006
In our oplnlon, based on the work undertaken In the ¢our8e of the audll.,
tho information given In the strategic report and the governors, annual report for the flnancial
year for whl¢h the financial statements are prepared Is conslstent wllh the flnancial stsl8menls;
and
the strateglc report and the governors, annual report have been prepared In accordanc8 wlth
applicable legal requirements.
Matters on whl¢h we aro rgqulred to report by exGeptlon
In Ilght of the knowledge and understandlng of thè company and Ils anvlronment obtained In the ¢ourse
of thè audit, we havo not Idenllfled materi81 mlsstatemenls in the strategic report or the governors.
annual reporL
We have noth1ng to report In respect of the followlng matters where the Companles Acl 2006 requires
us to report to you if, in our opinion..
adequate accounting records have not been k8Pt, or returns adequate for our audlt have not
been received from branches not vlslled by us., or
tho financial ststemenls are not in agreement with the aG¢ounting records and returns; or
certain disclosures of trustees, remuneratlon speGified by law are not made., or
we have not re¢elved all the information and explanations we require for our audlt.
Re$ponslbllitiès of trustees
As explalned more fully In the governors, responsibilities stalemenl set out on pages 8 & 9. the Iruslees
(who are also the directors of the Gharitable company for the purposes of company law} are responsible
16

INDEPENDENT AUDITOR'S REPORT TO THE GOVERNORS OF THE
CAVENDISH SCHOOL CHARITABLE TRUST LIMITED
For the year ended 31 August 2022
for the preparation of Ihe financial statements and for being Satisfied that they glve a true and falr view,
and forsuch Int$rnal control as the trustees determlne15 necessary to enable the preparatlon of financlal
statements that ar8 free from material misstat&ment, whether du8 to fraud or error.
In preparlng th6 financial statements, the trusl8e¥ are respon8lble for asse581ng the charitable
company'$ ability lo continue as a going concern, disclosing, as applicable, mallers related lo going
concern and uslng the going concern basis of Rccounllng unless the Iruslees either Intend to IiqLridale
the charitable company or lo cease operations or have no r8allsllc alternative but lo do so.
Audltor's R08ponslbllltles for the audlt of the flnancial ststements
Our objecllves are to oblain reasonabla a88urance about whelher the flnanclal statements as 8 whole
are fre6 from material misstalernenl, whether due to fraud or error, and lo issue an audllor's report that
Includes our opinion. Reasonable assuranc& Is a high level of assuranee, but is not a guar8ntee that an
audit conducted In ac¢ordanc8 with ISAS {UKI wlll always delect a m81erlal misstatement when it exlsls,
Mlsstalements can arise from Iraud or error and are considered material If, individually or in aggregat&,
thèy could reasonably be expected to inftuence Ihg economic declslon5 of users taken Dn tho basis of
these fln8nci81 $tal8mgnls.
As part of an aud51 accordance wlth ISA8 (UK), we ex8rGlse professional ludgemenl and malntaln
professlonal 8cepliclsm throughout the audlt. We also..
Idenllfy and 8S8es$ the rlsks of materlal mlsstalement of the flnancial st81om8nts, wh8ther dua
to fraud or 8rror, dasign and p8rform audll procedurés responsive lo those rlsk8. and obtaln
audit evldence that is sufficient and appropriate to provlde a basis for our opinlon. The rbsk of
not delectlng a malerlal misslatemenl resulting from fraud Is hlgher than for one resultlng from
error, as fraud may Involve collusion, forgary, intenllonal omls$lons, mlsreprosenlallons, or the
overrlde of internal control,
Obta￿n 8n understsndlng of Internal Gontrol relevant lo th8 audit in order lo design audit
procedures that ar& approprlale In the Gircumstances, but not for the purposes of expre88ing
an oplnlon on the effectiveness of the charitable company's intemal control.
Evaluate the appropriateness of accounting poll¢les used and the reasonablenesg of
accounting esllmates and related disclosures made by the Iruslèes.
Conclude on the appropria18ness of tho tru81e6S' Use of the golng concern basls of accountlng
and. based on the audlt evidence obtained, whether 8 material uncertainly exists related to
events or conditions Ihal may cast significant doubt on the ¢haritsble Gompany's ability lo
continue as a going concern. If we conclude that a material uncertainly exists, we are required
lo draw attenllon in our audllor's report to the related disclosures in Ihe financlal stalem8nls or,
if such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the
audit evldence obtained up to the date of our auditor's raport. Howevgr, future events or
ondlllons may cause the charitable company to cease to conllnue as a going concem.
Evaluate the overall presentation, structure and Gonlenl of the financial statements, including
the disclosures, and whether the financial statements representthe underlying Iran$aclions and
8vents in a manner that a¢hleves fair presentation.
17

INDEPENDENT AUDITOR'S REPORT TO THE GOVERNORS OF THE
CAVENDISH SCHOOL CHARITABLE TRUST LIMITED
For the year ended 31 August 2022
We communlcale with those charged with governance regardlng, among other matters. the planned
scope and liming of the aLJdil and 5ignlflcanl audit finding5, includlng any significant deficiencies in
internal control that W8 idenlify during our audit.
Explanatlon as to what extent the audSt was consldered capable of dete¢tlng irregularltle¥,
Includlng fraud
Irregularfties, including fraud, are instances of non-compliance with laws and regulalions. We design
procedures in line wlth our responsibili118S, Outlined above, to detect material misstatements In respect
of Ir￿gU18r1tIes, including fraud. The extent lo whl¢h our procedures are capable of detecting
Irregularitles, includlng fraud Is detailed below.
The obj8clive8 of our audit in respect of fraud, are; to identSfy and assess the rlsks of malerlal
misslalement of the financial statements due lo fraud. to oblaln sufficient approprlate audll evidence
regardlng the ass8S8ed rlsks of materlal misslalement due to fraud, through deslgning and
Implemgnllng appropriate r88ponses lo thosg assessed risks: and lo respond appropriately to Inslanc8s
of fraud or suspected fraud Identified during the 8udll. Howevor, the prlmary responslbillty for the
preventlon and detection of flaud r88ts with both management and those charged with governance of
the charilablg company.
Our approach was as follows..
We obtslned an und8rstsndlng of the legal and regulatory requirements appllcable to the
charitable company and consldered that the most slgnlficanl are the Companles Act 2006, the
Gharflies Act 2011. the Charity SORP, and UK financlal reporting standards as issued by the
Financial Reporting Councll
We obtained an undgrstandlng of how the Gharltable company complies wllh thotse
Tgqulremenls through dls¢us¥ions wllh manag¢menl and tho$& charged with governance.
We as80ssed the rlsk of materlal mlsstatem8nt of the financial statements, Including Ihe rlsk of
material misstatement due to fraud and how It might owur. by holdlng dlscusslons wSlh
managom8nt and thos9 charged wllh governance,
We Inquired of management and those charged with governance as lo any known Instances of
non-compliance or suspected non-compllance wllh laws and regulatlons.
Based on Ihls understanding, we designed specific appropriate audll procedures lo id&ntlfy
ill8tanceg of non-compliance with laws and regulalions. Thi5 included making enquirles of
management and those charged with governance and obtaining additional corroboratlve
evldence as required.
There are inherent limitations in thé audll procedures described above. We are less Ilkely to become
aware of Instances of non-compliance with laws and regulations Ihal are not closely related to events
and transactions reflected in the financial statements. Also. the ri8k of not detecting a material
mlsstatemenl due to fraud 1$ higher than the risk of not detecting one resulting from error, a8 fraud may
involve deliberate concealment by, for example, forgery or Intenllonal mlsrepresenlations. or through
collusion.
18

INDEPENDENT AUDITOR'S REPORT TO THE GOVERNORS OF THE
CAVENDISH SCHOOL CHARITABLE TRUST LIMITED
For the year ended 31 August 2022
Use of our report
This report is made solely to the charllable company's members, as a body. in accordance with Chapter
3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to
the company's members those mallers we are requlr8d lo stsle lo them in an audllor's report and for
no other purpose. To th8 fullest exlenl permilled by law, w& do not accept or assume responsibility to
any party other than Ihe charitable company and charitable comp8ny's members as 8 body, for our
audit work, for this report, or for the opinions we have formed.
gMtL L
Shivanl Kotharl (Senior Slatulory Audilorl
13 December 2022
for and on behalf of Moore Klngslon Smlth LLP, Stalulory Auditor
Floor 6
9 Appold Slroel
London
EC2A 2AP
19

The Cavendish School Charitable Trust Limited
STATEMENT OF FINANCIAL ACTIVITIES
Ilncludlng tho Incoma and expenditure statsment)
for thè
ear ended 31 Au
ust 2022
Unroslrlcled I
DoslgnHled
funds
R¢sldct8d
funds
Tot41
2022
Totsl
2021
N0188
INCOME FROM..
Charltabla Actlvltles
School fées
Olhei aducalloTral Income
OthÈr Incorne
Olher trading ineom8
Olhera¢tivlll85
knveotm8nts
Invesiment Income
vol￿nI￿ry 8our¢¢
Grants and donallon•
3.340,183
199,400
13,712
3,363,895
199,409
3234,449
35.487
40,675
3,233
40,fj75
3.233
19,SO8
1.498
1.070
1.070
401
2.810
20,971
23,581
82.211
3 621863
3 373 S54
Total Incoma and ¥mdowm•nt8
3.587 180
EXPENOITURE ON..
C08ts of ralolng lund8
Intèiesi and ¢lh6r co811
22.076
22,076
25,717
¢h8rii•bl8 aGtlvltl•b
EduCa￿￿n
42,846
3,437.630
3,2S8,128
3.394,985
Tot•1 •xp•ndltur•
3 417 081
42.645
3 409 706
3 283 845
N•1 op•ritlng Incomoll•xp•ndi¢uY•I
170,119
17,9821
162.167
89,709
M•t InMm•ll•xp•ndltur•l
170,119
17,9621
162,157
89,709
Trw5f¢r between fund
13712
Not movemant In lunds
183,831
121.6741
162,157
89,709
4.853 765
4 822 781
Fund b8lances broughtfwjprd
Fund balancos ¢arrlgd lorwurd
18, 19
Tho St8tem8nt of financlal 8cllvltl*s Ind￿j*S all 9olns 8nd th8e8 In ¢h8 year and therefor8 a slalement ol lotal rg¢ognl8od g$lns and
10&&88 hÈ8 not bpen prepBred.
5 037,696
5 074 647
4 912.490
I cf tho above amwnts relate to conllnuing actfvllle8.
The •tr￿Mp￿r￿ng nol88 fom partoflhaBQ InBndal ststsmonts.
Page 20

The Cavendish School Charitable Trust Limited
BALANCE SHEET
&sat31Au
usf
Note¢
2021
4XEDA¥SET$
r4nOlbk aSB8t8
4 1¢9.63a
290 332
RMENT A8sEr$
*bloi4
Catsh at bank h*
1169.631
4290,332
#4
113,3
2 56r042
54,459
2.700M19
2,3S4.677
CREDITORS.. Affjow16 f•ithw duo wh￿￿￿y￿ar
15
1066.1801
14ETCURRE14T ASSET3
17JZ 318
1481.497
TOTAL AS$ET¥ LESS CURR£NfuABJUYIES
¢REDITORS.' Amounts dw gfiormor4 Ihononoy••f
J,921.1J6
#.778,829
1147.2411 1868,8391
18
NEY A88Er
8074 647
4 912 49Q
FU14DS
R¢slikled Fundi
unre$L￿cted FunO9-0grthl
H88¢s otscréi￿TraryFUlld
Hird4Np Furd
T*ngltrA6 FtWAii•tFund
19
)9
31.Q51
1.281.19
24ts
SB,72
1,031.796
8,084
83.osg
3.728.94
18
18
¢71147
4 912 46YJ
Apprty•d and authortmd Bal￿OIsO￿m￿rI tsn..........
. •nd iiqnedofi th)Ir￿￿&11 by..
AGo#D¥rtdN Rushion
Q•¥•mo5• ofTh0 CovendlshS)kni¢nwb•*lo TNII
Cgmp4nyr•gl$￿ti0￿ numb
987480 lÉngl•nd aid w*￿$>
Th• *ceomwfvg no*J fwTh part01h￿•1￿¥fic*11thm0Tr1s.
P*B021

The Cavendish School Charitable Trust Limited
CASHFLOW STATEMENT
for ths
ear ended 31 Au
ust 2022
CASH FLOW STATEMENT
Notes
2022
2021
Nel cash inflowfrom op8ralirto acllvllies
23
430,660
472.292
Cash Ibws from invesllng adwities..
Bank Inl8res1 rectslved
Paymcni8 to acqulre f1xed ssseis
1,070
150.1931
401
120,1891
Ntic4sh oulfknwfrom Inv851ino activil
19,788
Flnancing..
Loans rèpaid
Infrro51 repald
IT2.6371
122,0761
169,6411
Nel ¢8sh oullbwfrom flnanclng aclldti
Inereas8llOacra8sel In cèsh
286,824
3S7,146
CH$h and cash equiv8l¢n15 ai Ihe
boglnning ol the r8pDrtlng periad
Cash 8nd G8sh equlvalenls al th•
end ol th• i¢portlng PBrbd
230Q218
1943 072
2 087 042
2 300,218
Page 22

The Cavendish School Charitable Trust Limited
ACCOUNTING POLICIES
for the
ear ended 31 Au
LI812022
1 ACCOUNTING POLICIES
The Gavend15h School CharllaNg Trnsl Llmlted18 a ¢Dmpary Ilmlled byguar8ntee wllh regislèred numb8r 987480,
In¢orpDmled and domlcll&d In England and Wales. Ite wl$itred Offi￿18 The Cavendish School, 31 Inverness Street. Londi)n.
NWI 7HB.
.1 BASIS OF PREPARATION
Thè financial $ial8m8nl6 hsv8 boen prepared In a¢¢ordance wllh the Flnanclal Roporfing St8ndard appli¢8ble In Ihg UK and
Republi¢ of Ireland IFRS 1021. The Charltable Company15 a publ￿ b8n8fl1 enuly for the purposes of FRS 102 and Ih6r&for8
Ihe Charfly also prepared 11$ financisl slatemonts In accordance wlth Ihe Sl$tement of Recommended Pm¢iice applloabl6 to
¢h4rf11B5 preparlng Ihelr a¢¢ounts In accordance Ihe Flnanclal Report￿9 Standard 8wIIc8b18 In the UK and R8publk of
Iraland IThe FRS 102 Charf1188 SORPI, th8 Companles Aol 2006 and the Charities Act 2011.
Th8 flnancial 5191gmgnt8 8re prepared In slerllno, whlch 18 th8 funcwonal eurrency DI the charfty. Mon8t8ry amwnts In Ihe8e
ffnonck418t8lemen18 8M rounded lo Ih8 no*est pound.
Thes6 flnan¢lo15t8lernenl8 8re w8pared ￿ the gokno concwn ba818, uThJer thè hi$lrylcal cos1 cenv8nlbn 8$ modiffgd by th8
revolu8llon of inve51menls 8nd In accordance wllh the Companles Act 2006 antj opplicable accounting standard5 In the Unlied
Kingdom, The prinGlpal accounlSng poliei¢s, wNch hav& been applied conslsienlly Ihroughoul the year. ara 801 out bohJw.
1.2 GOING CONCERN
The trusle88 hav8 assessèd whelhar lh¢ u$¢ of the toncwn 858umptlon 18 8pproprk41fr In prepèrlro IhBs8 financKg1
81alemL4nt¥. The Iru$toe& have rnade ihl& as$e6smtnl in re$peGI to 4 perlr*J of onè year frem th8 dale ol approval of thèse
fln8ncl&l $tatemenls.
The 8chool 1$ d8P8nd8nl on puplls applylng lo 11 and cn p8renl$ to Pay Iheir 1885, Long l¢rm forecasting ol pupll number818
dlfFEcull bul work conllnue$ ￿ r8180 the profil6 of the Bchool and to m8lnlaln and enhanc8 Ihv relationships with p8renl$, foeder
schools and nurserles 8nd d88llnation school$. The Impgcl ef the COVID.19 pandem[¢ ¢re8les uncertainly over pupil numb8r8
and Its itnpqcl on lh8 p8rents' ability lo conOnulng paying school fe0$ for tha fore¥88ablo luture. Howover, the gchoDI has
produced forecasts for at18as112 months frem the d8te ol approval of Ih88e flnenc1818ialern8nts whl¢h 8how Ihgt th• School
will hav6 suffrclenl lundb to c￿lInUe op&r8￿n9 •B a gcdng concern.
A8 such the School can expèct lo bg 8blo 10 ffleet Ils118b51111e8 8$ Ihtyfall due In the p8rlod ol 81 le88112 month8 from the d91•
oF4pproval of th888 Bttounls. Howav8r, Ih•rg can b8 no certalrty In relallen to Ih660 mailer8.
On tr1> b081$ th• Governor8 hav0 concluded that tho School18 8 gdnll concern. Th8 InBn¢lal 51at8Thnt8 do Indude ￿Y
adluslmonts tholwwkl res￿1 from th• S¢ho)I not b•Jng to meet It8 Ilabllltl•$ •• Ihoyfoll dw.
1.3 COMPANY LIMITED BY GUARANTEÉ
Tha company 1$ Ilmll8d by guqrnnlee, Ihg gvqY8n¢ors al the pre$ent IMB belng the Governors, to Iho 6xionl ofR10*h.
1.4 FEES RECEIVABLE AND SIMILAR INCOME
Fe99 roce￿&ble and charge8 for 8eJvl¢$$ and use ol pr8rnl888 ara 8¢¢0un16d for In the porfod In whlch Ihe 8etvlc81s provld8d.
Fé09 rec81v8bl• are staled after d•du¢lln9 811owanco9. 8¢lkilar8h*s and other romls8lonÈ grani•d by scho￿.
1.5 DONATIONS AND FUND ACCOUNTING
Donoliony recelved for the 98n9ral purposes of the $¢hool are InchJd8d 80 unrèytrlct8d funds. Donallons r8slrlcf0d by tho
wishes of tho donor or th8 terms ol an app681 aro 18ken to r881rlcled fund$. Donallons required lo be r8181ned o• capll81 In
8ccordanco wllh Ihg donorfs wlshe8 oro accounlgd fur as endowmeni$- porm8n8nt or èxpolldsblo according lo the n8lum ef
Ihe r881ri¢110n.
1.8 EXPENDITURE
Expendlur8 18 allooated lo expense he8dng8, whlch agyegate all costs rolalno to the calegtsry eFther on a dkect cost ba818,
or 8PPOrtloned accordlng trj spent.
Ll8bililies are re¢ognls8d 88 soon a$ there Ss a legal or Gonytrudve obllgolion commlitino the school to make a payrn8nl lo
third pariy, it Is prob8ble thqt a Iransf@r of e¢onomlc b8nefrts ￿11 be required In selllemenl and ihe amount of Ihe obllgatlon Gan
be mea$ur6d rellabty. All expEndlture1s ac¢tsunted foron An aceruals basls and includeg any aliribu18ble VAT whSch oannDI be
recove￿￿. All 8xpènses are allocated apportk>ned lo tha appl￿b￿ exp¢ndilure headings. Expendilure on GharitablÈ
tlvilie$ coTnprise8 exp8ndllure on the provislon of edu¢8110n.
Gov8rnan¢e w5ts compr[88 the ¢osls of njnning the Trust. Includlng slr818glc pLqnnlng for 11$ luiure devdopment. exlem81
audit. and all elher ¢osts of complwng wilh conslllulonal 8nd stalutuy requtr6ments.
Page Td

The Cavendish School Charitable Trust Limited
ACCOUNTING POLICIES
for the
ear ended 31 Au
ust 2022
1.7 TEACHING COSTS
Tho cost of leachlng aThJ support staff sakrf88, induding pension and nallon81 Insuran￿ costs, b)(*8, Other lull￿ expen888
and IT 8UPPOrt.
1.8 FIXED ASSFTS AND DEPRECIAnoN
All fixed assds ar8 used in dlrect furtheranc8 of thé schoDI's objtctlves. F￿d assets ar8 Included In th668 financtal
$tBlerneni$ al ihelr orkjlnal cost le5$ depreclallon and aCcumubl￿ Impalrmenl k)8ses prowded lo date.
Assels Ihol ar8 eX￿¢tad lo hav8 4 u$èful econom1¢ ol te55 than one year and cost h&s IhBn £2,000 orè not capitd16ed ond
are wrlll8n off in Ihe y88rof purthasa.
Fr88hold propertyls dekYetiatÈd al a rate of 2% perannum on a stroiohl.Iln8 ba515 order lowrlle tt)e buildlngs offover thelr
sllmaled useful aconomlc Ilves lo Ihg School. Certaln Improv8rwnt8 to property ora depretsatsd on a Str¥￿h141na basis in
order to olf Ihe costs over a perio¢J of fiftean year8.
Deprepjal1￿ is p(ovkled on all langible llxed a$s8ls, ¢lhgr than fr8ehok1 18nd. at r8188 caLculaled to wrfte off Ihe ¢08ts le55
eslltnalad residual valu8 ol eB¢h asset, by ow81 annuHI knslalments, over Ihelr gxpeclad u88ful liv08 whlch arb con8IYw8d to
Furnllure 8nd genero1
¢ffice Bquipmonl
CoMPUt8r and IT
Plano
. 10 ye8r8
.3 year$
.30yea
10%. 20% per gnnum based on cost
33.3% per annum based on cost
3.33Yo per8nnuffl based on cos1
The co81 of ff88h0￿ propèrty reprÈs•nls lh8 hlstorf¢81 value rewrded in Ihe book$ of £5,849,407. Tha council Jrè of Ihe
oplnion IhBI the curroni value of Ihè 8chool'B land and buildhg18 8ubstwll8lly In exce$$ of the 8hown Sn thè fin8nGlal
$t818rn8nlB. The bU1￿1ng8 h8ve an insured valu6 of £17.082,32012021.. £16.638.0521.
1.9 PENSIONS
Full-llmg and part.11rno le8¢hing •loff èmployed und•r a wnlr3cl of se￿Ie8 aro 411glbl6 lo contrlbulo to tho To8¢h8r8' Penslon
Scheme ITPSI. Thè TPS. a $tJlulory, conlrtbutory, fin41 salary ￿hOme 19 admlnlsleTed by Capha Teach0rs' Pen81ons Dn
bohjll ol th8 D8Porim8nl for Educa￿On and Skills.
Losis In¢iude nom81 ana supp18m•niary coninDUUOnS. In8 regulAf co81 18 me norm#i CONriouuon, expr8888d ats o
perGgnlage ol $818ry of a leaGh8r newly ¢thl*ring 8ervic8, whlch would defray th8 co81 ol b*nel18 payablo in respecl of Ihol
6ervlce. Voilallons from Ihe reGulBr penslon cost ar8 met by a suppleméntary conlr1bullun. Thls uccurs 11, os o re¥ult Of Ihts
8cluarlal Inv88llgallon, 1118 foun¢ that the accumulaled IlablllllÈs for benBfllS to pest and pr8S0nl teacher8 are nol fully covered
by normal cenlrlbuiion¥ le be p8k1 in tho fulwe snd by the fund bu111 up fr¢rn pa8t coniilbulbn&. Thg normal and
&wpl8mgntory contrlbullon8 are Ghgrg8d lo tho In¢we and ¢xpend5tur9 p¢¢wnt in th8 ye8r,
The School p8rtlGIp818d In the T6Bch8r8' Penslon Schtrmo I'lho TPS'I for118 leachkng staff. how&v8r from 1 September, afior a
pèrfod ol Lonsullation the school took the dodglon lo b•va Ihg TPS and put In plHce an 8llern8llv8 defin8d contribullon
schem0 wllh AWVA for tho 188rhing staff.
The school also p8y8 conlribullonj Into 8 Group Personal Penslon Scheme lor Support ¥laff. Th? Schome 1$ 8 de￿8￿
eontribullon pen$lon sch8m9. Th8 asse18 Df th8 Schema ar6 held 9gpgralety Irom tho88 Qt the School In an Ind8pendenlly
dmln15tered fund. Thv Pon¢lon S¢hem• oharyo r8pr88en¢g conIrlbu￿DnS Payab￿ by tha $¢hoc4 kn accordance wlth the rul
ol the Sch8m&.
1.10 LEASES AND HIRÉ PURCHASÉ CONTRACTS
Where assets Bre financed by flnanc8 18590$ hire purchas? agreements the 855el$ ore Ineludod In the Bal8nce She81 at
co$1 le85 depreclalion In 4¢¢ordance wilh lh& 8choo16 norm81 accounting policy. The present valua of future rgDt81$ is shown
as 8 IL8bllKy. The Inl8r8sI element of rgnlal obllgalions 1$ charged lo th¢ Stalem8nl of FSnancial A¢llvlil88 ovèr the period of the
$9 In proportlon lo Ihe ba18nce of¢•pllal p8ymenls QUts18ndkng.
R8ntal8 pa1d undar operotlng leases are ¢horyed lo the Slal¢ment C>f Fln8KL41 AGtiY11188 ev¢nly over lh8 perlod of the laa88.
1.11 CASH AND CASH EQUIVALENTS
CaÉh and ca¥h equivalenls Indudg cash lrt hand. deposts haLd al tsll bsnks, oiher 8hort-tèm Ilquid inv6¥trnent8 wllh
orTralnal matur￿85 of threè Mont￿ or le$$.
1.12 FINANCIAL INSTRUMENTS
The company ha5 elècted lo apply Ihe provislon5 of Sectlon 11 Easlc Flnon¢lal Instr￿)ents. 2nd Sectlon 12'01her Finandal
In8trumen15 Issues. ol FRS 102 to all tsf 118 finandal inslrumenis. FSnanclal Instruments aR récogn18ed In Ihe companls
baLgn¢e sheeiwhen ihe company beGornBs pariyto Ihe conlraclual prtsvisbns ol Ihe Instrumént. Firtanclal 8ssels and li2bilille8
ar? uflsei. wllh Ihe net arnounts PTeaeDled In tho finNnolal 8latBtn•nts, when IhÈm Ig 9 1&gAlly Ènfarceable rEght lo sel off the
r8cogn15ed amoun15 and Ihera 18 an intention lo settl8 on 4 n&t basis or tts realL%e ihe ass8t and sellle thè Ilabllily
$imultan8ousIy.
With the excepllons of prepaymÈnis and Lleferrtd Iwome all other debtor and creditor balances are ￿nsIdered lo be b25lC
financial Insbum8nts undér FRS 102. Sep notss 14. IS and 16 forthe debtor and creditor notes.
Page 24

The Cavendish School Charitable Trust Limited
ACCOUNTING POLICIES
for the
ar ended 31 Au
ust 2D22
1.13 TA%ATIQN
The COM￿nY[S 8 reg181ered Gharlty and i5 exempl frun tsK8llon as alforded by Secllon 505 ICTA 1988.
1.14 EMPLOYEE BENEFJTS
Th¢ costs of short.term ernpkjyo? b8r*frt& Org recognised as a lablllly and an exp6n89.
2 KEY ESTIMATES & JUDGEMENTS
In the 8pplic3llon of IhB ¢ompanl5 accouniinp pollcles, the Council Is r8qulréd lo make ludgemonls, esllmales and
assumpllons aboul Ihts carrylng amount of assets aTh1 Ilabllllies that ore not raadily apparent from othèr source$. The
68Vmaie5 8nd assoclaled assumpllons are basèd On hlsloAcal &xperlen¢e other la¢knrs thai are consbjwed to be rdavani.
Actual result$ wnaydiffer from th88fl è811mates.
The eslimaley and llnderl￿ng 899umpllons are revl&wed cn an ¢x-golng baslB. lo aoeountlng egllmaies 8ra
racognSsed In the period In whlch Ihè esllmalo18 r6￿8&d, If the revi$￿ affect8 only that perlod, or In th¢ perfod of th8 revlslon
And future p¢rlods If th$ revlslon 8ffe¢15 both current Iuiure pwlod$.
In th6 opinion ol tho Counc41 of M8n8gÈm&nl, the Is￿￿8188 and as$umpUon$ whl¢h have a $19nific8nl rlsk ol causlno a
mat8rlal odlu81Menl10 Ihe CO￿￿9 8mounl of 8580ts and Ilabll'lies wa oullln8d beb¥v.
Crftlcal ludgem•nt&
Us9fvle¢ontrm￿ IIv*•
Thè onnu81 oJepr8c1811on charge for property, plont and èquipment Is s8n8itlvè lo chang96 In lh8 è$limalod u8&ful economlc
liv08 and resldual values of the 8SS8ts. The usgful oconomK Ilves gnd res￿￿&1 values ao re.a8$essed 8nnu8lly. Thgy are
amended wh8n necassgry lo r6fl8ei curranl 9sllmalas, based en 10t￿01091¢818dvanceM￿n1, futuro Inveslm6nl$, 8conoml¢
ullll80lion and the phyBi¢al condiuon of the 8$$0ts. Sa? note 12 for carryirvJ smount of the prop8rly, plant 8nd equlpmont
8nd rK)16 1.8 for lfve useful •conomlt lives for 8ath cl888 wssel.
R6cav8Trts• v•lts• olfoe d•bior¥
The cemp8ny mak88 an e8ilmal• of the recov8rablo value ol trade and olher debtors. When 0s¥8sslng Impalrmartl ol tra
clher debtors, manaoemonl conBld¥rs laGior8 Inoludlng Ihe current credll r811ng ol tho debtor, th8 og81ng profllg of d•btors
ond h181orfcal oxp8rienc8. Se8 note 13 for th8 n81 carrying amount of th? doblor8 and 4ssoc181$d ITnp8irmgnl provi6Fon.
In preparing fin¥n¢l81 Slat8moFt15 51 n8c95S8ry t¢ m8k6 wrt8ln judg4m8n18, e811male$ 8nd $¥8umpUtsn8 Ihal 8ff¥l tho
amount$ recognl80l In tho financ1818tal8menl$. Th8 fellowry ludgamenls and e¥ilrnola8 ar• con8k1•rod by the Iru8lee8 Ici
have mosl ylgnlllcanl 8tt8cI on 8mounl$ recogni$¢d In tha financP81 st818m8nt¥.
P8gB 25

The Cavendish School Charitable Trust Limited
NOTES TO THE FINANCIAL STATEMENTS
for the
ar endèd 31 Au
ust 2022
3 FEE INCOME
Th8 School's aGlwities are corf8d Out￿thin tho UK.
The 5chooi¥ fee incorne ¢omprlsed'.
2022
2021
Gross fee5
Less.. Buisari&& p8id forfrom resirfcled funds
L855'. Unre5trlcled bursarEé8
3.398.307
113.7121
130.7001
3.285.235
12.1161
148,8701
3 353,895
3,234,449
Included wllhin thB 8bove b an amount of£13.71212021.. £2.1161 whieh18 8UPPOrtad by reslrfcled Income.
4 OTHER EDUCATIONAL INCOME
2022
2D21
Extr28 and dl$burBem6nts
Regislrglion feas
othar Income
1UO.080
11,100
8,229
23,647
8,100
3.740
199 409
5 OTHER ThADING INCQME
2022
2021
19,508
1,496
Rent and18lllng$
Olhor IrKoma
40,67J
3.233
21 008.00
INVESTMENT INCOME
2022
2021
401
I￿￿T•s( r¢c8fved
1.070
401
7 DONATIONS AND GRANTS
2022
2021
Don8llons and ghl$
Furk>ugh grynt
Olher gr8ni8
23,S81
30,488
3,468
48,235
23,581
82,211
IrKlud8d ￿1h1n th8 *bove18 an ￿oUnt ot£20,97112021.. £n,9331 which relates to re8lrkled income.
Pag8 28

The Cavendish School Charitable Trust Limited
NOTES TO THE FINANCIAL STATEMENTS
for the
ar ended 31 Au
ust 2022
8 EXPENDITURE
lal Gharltablo oxpènditw8
8tsff costs
Inola 91
T4)ts1
2022
Oiher Depr8dallon
Teachkng
Wfjwaro
Premlses and Eslat85
A(knini51rallo
Flnance Cesls
Gov6man¢e
1,895.7
8,289
271,521
196.066
280,548
120.745
22,076
20.330
42,573
2,209,80D
204,335
408,964
594,201
22,076
128.416
473.456
Total Charitablo ExpendltUf0
2,377,431
911.286
170.989
3.459,7DB
Induded wllhln £3,459,70818 an amount of£42,64612021.. £49.8991 relallng to re8lrf¢led eXp￿d￿Ur8.
Ch4vlthbl• •xpendlturo
Staff ett$i
10010 91
Tolol
2021
Olhor Dep￿141k)n
T•aching
Weware
Pr8mlse8 afid E8lalè8
Adminl$iralion
Flnance
Govemanc8
1,952,051
8,474
98,254
177.798
245,388
104.455
25.717
14,780
49,879
2,100,184
186,272
373,518
583,384
25,717
128,132
478.909
Total Charftsbl& Expendlture
2,439,434
866,400
178,011
3.283 845
Ibl Othgr Gov•rnan¢e Co¥tg Inelud•:
2022
2021
Audltors. remunor811on
. Avdll Foes
- Okh8rAudltor$ r￿uneratIon
13,223
13,600
(GI Admlnlstratlon & Flnanc• Costs
2Q22
2021
N8llon81 In$uran¢?
Pension Costs
Other Staff Costs
Subscrlplion$
Slaff Iravel
Oparallng Loa809
IT suppori
Postage and $lalonery
Telephone$
Mark811ng snd advertising
Mlscellaneous. AdMIn￿tra￿¢n
Recrullmenl Costs
Leg81 and Prof8sslonal F8es
OlherAdmln181rotion Costs
Bank ch•rg88 Inter881
391,256
45,173
29,497
7,530
22,383
201
6,320
11.499
447
6,085
f8,118
13,327
1.757
16,768
24,547
22,169
391,773
43,136
33,329
10,671
24,457
14,466
3.711
1,743
5,778
3,945
20,888
29,426
25,753
616.277
6Q9,OB1
Page 27

The Cavendish School Charitable Trust Limited
NOTES TO THE FINANCIAL STATEMENTS
for the
ear ended 31 Au
ust 2022
2022
2021
9 STAFF COSTS
Wage$ ond saatte$
SoGlal $gcurrfy t08ts
Olhar penslon ¢o$ts
Olh8r 51aff costs
1,948,005
216.508
205,29f
33,470
1.931.ieo
205,589
250,294
52,391
The numb8r of employe•B whtr receN8d ramunerallon urffler redundancy and Sèltkment Costs wer6 012021'.11 whlch tOtal￿d
£Th112021.. £4,8591.
Tho average r¢￿thlY number of omp1oytss durlng th* year w8& 88 folbw8.'
2022
No.
2021
No.
43
Teachlng
Support
63
Th8 number of ¢mploytros whose 4moiuments
£60,000 in Ihe yearwas as follows,.
2022
2021
No.
£80.000- £70,000
£70,001 - £80.000
£80,001- £90,000
£100,001. t110,IXIO
£110,001 . £120.000
PeDsbn ¢ontrI￿llUnaf0rthe year amountod lo £88.81312021'. £88.8131 ler Iho 8bm •rnpioyoP¥.
Key man8goment per¥onn81 InElud8 th8 &Jvom¢r& and Ihg Benlor exscullv¥8 whkh aro mede up 6 memb8rg of th• sonbr
Leadershlp T&8m InGludlng the head Ond th8 bur88r. Tho lelal pay and b¢naflt$ r8c8lvod by rnan8uem8nl pet$onnol wor•
£574,02412021 £419,275).
P8ge 28

The Cavendish School Charitable Trust Limited
NOTES TO THE FINANCIAL STATEMENTS
for the
ear ended 31 Au
ust 2022
10 PENSIONS
The School pailiclp81ed in Ihe T6acher8' Panslon sc1￿Me I'the TPS") ftsr its t88¢hlng Staff, however Irom 1 Septemb&r 2021,
alter a perlod of consultation the school look thè declslon to leave the TPS and pul In placa an allernalivs dèfined conldbulion
sd)arne wllh AVIVA lor thè tÈ0chlng $tsff. The p6n$ioTr charge for th& ￿ar Inclu(Jos coniribullons payable lo the TPS and
AVIVA Scheme of £175,80012021.. £216,965) and 4t th6 yaar-end £nll wqs accruod in re5peoiof Gontrlbutl￿s to the TPS.
Th8 TPS Is an unlunded mulll.8mployer defined bantfils p8nslon s¢hem8 gov8rned by The Tea¢hgrs' Pen￿on$ RegulatlDn&
2010 la8 amended) and The Tèuch&r8' Pension Scheme RewlaUoThs 201418$ am8ndtdl. M8mberÈ conWbule on a'pay as
yw go. bas1$ wllh conlrlbulions from membtsrs and the employ8r belng credltÈd lo th8 Exchequer. Relir6ment and other
p8nÈlon banfyfilg are by W￿l￿fv￿lS promded by P8rllameTht.
Th6 employerconiribullon ralg Is $6t by the S8crolary of Slate followln9 sch&me valu81ron8 undertakèn bylh• Gev&mmeTht
Acluarys Dep8rtmenl. Thé rnosl r8Cont actuarial valuallm of the TPS was prepyred as 8131 March 2016 and th8 V8lu811on
R8porl, which was published in Merch 2019, confirmed that the 8mpltyer conlllbulion r8le for Ih8 TPS would Increas6 Irtrrn
16.4% 10 23.6% from 1 September 2019. Employers aré also ￿4Vil9d lo payb scheme edmlnlstrallon18vy ofo.08% giv5n9
iot818mploy8r ¢onidbullon rpte of 23.68%.
Th¢ 31 March 2016 v3lu8llon Report was prepp*ed in accordanc6 wllh the beneflts s•1 out In the 8ch8me regulwllon6 ond
undtrr the 8ppr¢8ch speclfled In the DlroGttons, as they appl￿￿ ai 5 Mar¢h 2019. However, the 8Bsumplions w8ro ¢onslderod
end sel by Ihg Department for Educallon prlor lo tho rullng In th•'McCloudlSarg88ni case,. Th1$ case ha5 r8qulr8d the courts
to conslder ¢a$eB r8gardlng Ihe Impk9metTrt81￿n el the 2015 r8forms lo Publ1¢ Sorvl¢8 Ponsl¢n8 Includlng the T88¢h¢rs'
Pen•lon$.
On 27 Junè 2019 Ih? 8upr•m4 Court denlod th8 governmonl porm1881on le Iho Court olAppeal'sludgm•nt th81
Iranslllonal provlslons Introduced lo lh8 r8fDrmed panglon schames In 2015 gavo riBo lo ￿lawFul aga tllscrlmin8llon. The
govarnmenl Is r6$pocllng thé Court'$ declslon and hag $ttid il wlll gwage fullywllh Ihe Empbymonl Trlbunal a8 wo1185
¢mpknyar8nd mambgr repres•n1811vo0 lo agr68 how lh¢ dl$crlmknaVons wlll tyv r8rned￿d. The governm8nl announ¢gd on 4
February2021 Ihal il Inlond$ to proceed wllh 8 deferrod ¢hoic8 untlerwN¢h memb8r$ wlll bo 8blo lo ch006e ellher
bgaey or reformed 8chem¢ b?n8flts In resp9¢1elthelr servic8 durlng the portod b8lw&•n 1 Aprll 201S 31 March 2022 81
tho polnl they bectsme payablo.
Th• TPS Is Bubje¢t lo a co¥1 Cap Mec*￿ISM wNch w8¥ pul In pl8¢0 to Pf¢tsCI 18xpay8r8 8g8ln$i unfor$seen ch8nges In
gch8rn¥ coBis. The ChlefSecr6t8ry to the Trèasury, h8vlng In 2018 8nnounced that IherÈ WOU￿ be ¥ rovlow oflhls COSt Cap
m8chaTrlsm. In Jonuary 2019 announcod 8 pauso ID Ihp cost e*p me¢hanlBm fo10￿ng Iha Court ef Appgal's rullna In 1179
¢CloudlSargeanl caB8 8nd until Iherejs certalniy about Ihe value of penslonB Io gmployee8 Trom April 2015 onw&rds. Tho
Pau98 w89 Ilfied In July 2020, and a consullallon w8s launched on 24 Jun8 on proposod chang85 10 Ih8 cost control
meGhani8m following B revl¢w by ihe Govemmenl Actuary. Followlng a publr consuli&lion. the Govemmenl h8ve occopted
Ihrep kBy proposaLs rgcomrnendgd ty the Gov8rnmont Actuary, gncl ots 8lmlry lo Implement tho80 chwgBS In Ilmfr for the
2020 v81uallenJ.
The 2016 ¢051 control valualons hgv& slnce been completed in January 2022, and Ihg resuhB Indlcaled Ihol there would be no
¢h8nge8 to benefit$ or memberconlrtbuUon$ 1oqulr8d. The Tryulls of the co6(t8p valualFon 8ra not used lo ¥el tha •mploy8r
c¢ntrfbullon raie, 8nd HM Tr¢8sury has Confirmed that •nychangg8 lo the employer conthbulion ratè resulting from tho 2020
v8luaiion8 will také &ff8Ct In Aprll 2024.
Unttl the 2020 valuallon 1$ ¢ompleled It18 fpDt pOs$l￿e to conclude on any financlal Impact orfulure ¢hang98 to the ¢onlrlbutlon
r818s ol Ihe TP8. Ac¢oidIng￿, no provi￿0￿ for 8ny addillon81 p8$1 b8n?fil penslon ¢0818 Lg Includ¢d In Ih&8e firtHrKknI
elelomenls.
The S¢hoL4 abo rvns o s¢hemelor Its non-leachlng s18ff, which Is 8 deflned eontrtbulH)ns scheffls. Th8 cost ferihg year
repr8sÈTrls ihe S¢hool'8 ¢onirlbulions lo the Scheme of £29,49712021'. £33,329) and ai the year Bnd £4,81712021.' £5.2801
was accrued In rF5P8Ct of conlribullons to th18 Èch0m8.
11 QOVERNORS REMUNERATION AND BENEFITS
TherB were no Govemors. remuneiaiion or Other benefit8 lor th8 year ended 31 Augusl 2022 noi for th8 year anded 31 ALQUSt
2Q21.
Twvel and other rÈlmbursements trfU7212021.. £4851 for the governors were pard by Ihe Ghartly during the year.
12 NET WCOMÈ FOR THE YEAR
2022
2021
Net Income Is stated after charGing'.
Depreciallon Df tanglble fixed 8ssets
Oporatlng leaÈÉ Mntals- olher
Audiloffs r8munerallon
Audit servlces for the 8th00l- currert ye
Non-8udlt servlcs
170,969
5.320
1T6,012
14,486
13,r23
13,500
1,415
pa￿ 29

The Cavendish School Charitable Trust Limited
NOTES TO THE FINANCIAL STATEMENTS
for the
ear ended 31 Au
ust 2022
13 TANGIBLE FIXED ASSETS
Pkrynt
Fixlwes
Freeh(Ad
Propaty Equlpmant
Flitlng$
Total
Coyt..
At 1 September 2021
dillons
5,818.982
33,200
17.718
322,590
16,993
5.959.29D
50.193
17,710
339.583
6 009,483
Al 31 Augu$l 2022
5 652,182
Depreciallon..
Ai 1 September 2021
h8rge for y881
1.438,223
128,416
3,470
12.403
229,265
30,170
1.6BB.958
170.969
Ai 31 August 2022
1 $64 839
259.435
1 83&.￿7
N*t book value..
At 31 August 2022
80,148
4 169 536
4 290 332
Al 1 Septombor 2021
4 182 759
14 DEBTORS
2022
2021
20,444
13,518
79,41J
7.503
Foe8 and extra
Accruod in¢omo
Prep8ymenl$ and arxruod ineom?
48.9S8
15 CREDITORS
2022
2021
Arnoynls fallln9 du¥ wmhln yaar.
75,591
40,084
51.336
65,000
047,964
49,158
18.928
72,637
51,026
49,313
93.000
$63,757
27,715
18,732
Loan
TrBde credilorB
Taxation and ¥￿la1 $ewriiyco81¥
Fee Depos115
Fees In advance
Olhar eredltors
Accru818
948 061
2022
2021
Dèferred kncen3a'.
439,424
1439,4241
563.157
Brought forward$
Rek2s8d In year
Rece1ved in year
563,757
1563,7571
647.984
047,964
563,757
Carrlad fo￿ards
Daferred Income r8L91e8 lo sCho￿S feè& r8ceSYed In advance ftsr the followSng teirn.
Page 30

The Cavendish School Charitable Trust Limited
NOTES TO THE FINANCIAL STATEMENTS
for the
ear ended 31 Au
ust 2022
16 CREDITORS tXJE AFTER ONE YE*R
2022
2021
Amounls falling due after TrLtyre Ih8n one year.
Bank108n
School fea deposh8
413.749
433,SOO
489.339
377,OQO
847 249
866 339
2022
2021
Movem8nl on loans
In one ye8r or less
alween one and iwo Y8Br&
86lwo&n ￿ antl fve y08rs
After fiv8 years
75.591
78,684
767,323
167.742
72,637
75,5
208,641
205.108
4B9,340
5619T8
2022
2021
Mov8m•ni on daposlt8'.
In onè year or less
Bolween on8 ond two y88rs
Belw80n two and five wr5
After five ye8r$
83.000
54,000
170.000
147 000
72,6OQ
191,000
170 QOO
498,500
460.000
The bank lo&n$ 8eoured by flrBt 8nd $6COnd ix•d ch8rg8$ over the froahokl property gllu8ted at 31 Inveme8s Slroèl, NW1
7H8 Iprovlously Mforred to 45 179 Arlln9tor) Rood. LDndon NW1 7EYI 8nd flxod plant and machlnory. Th• ba￿￿¢0 01
£469,340 In¢lud08 two nxed Interosl alemonls of£160.169 and £339,171, r8p8yabl¢ by InslalmgnlB, on whleh Inlgre51 IB
ch8rged at 3.69% and 4.5% resp8cllv81y.
17 FINANCIAL INSTRUMENTS
2022
2021
Canyong amount of 1lhqno1￿ aB••ts
Mo8$ur8d al amortlsed ¢￿t
33,962
7,603
Clrrylng *mounl of flnÈn¢lal Ilablllt108
Me88ured 81 amortl88d co$1
224106
253,110
P8ge 31

The Cavendish School Charitable Trust Limited
NOTES TO THE FINANCIAL STATEMENTS
f¢y tho
aar ended 31 Au
ust 2022
18 STATEMENT OF FUNDS
A11
SepiÈmbar
2021
Transfer
8e￿èefl
Fund$
A131
Auuu8t 2022
Incom& Expendlture
Unr88trlctBd & DeS1unal￿ Fund5'.
General r£serve
Tanglble Flxtsd A5$81 Funds
HBad's Discrelionpry Funds
Hardship Funds
I,Q34,798
3,728.946
8,￿4
83,959
3.584.570 13,413,627)
13,4341
62,460
148,748)
1.268,199
3,680,198
5,240
83,959
2.610
Toiol Unrestrlctod & Dasbanat8d Fund$'.
4,853,786
3,587,180 13,417,0611
13.712
5,037,596
R8slricled funds..
Varfous R￿1￿¢tad Funds
37,051
58,726
34,883
142.6451
113,7121
Total fund8
4,912,490
3,621,963 13,459.7081
5.074,647
At1
S•ptsmb¢r
2020
Transl8r
B8iw88n
Fund8
At31
Auw612021
In¢orne E%p•ndllurtr
Unr88trlcled & D&slgnated Funds:
Gonaral rg58rve
Tanglble Fixtd A$8et Funds
AeBd'$ DiJciollon#ry Funds
Hèrdsh* FundB
1,034,798
3.728,946
6,084
83,959
873,286
3.816,S39
4,922
83,959
3,293.048 13.232,5151
100.998
167,5931
2,573
11,4311
Tot81 Unreatrtclod & De8kJnalqd Fund$'.
4.778,69S
3,295.621 13,233,948)
13,405
4,8S3,765
R•8lrlol8d fund8:
Vailous R8slrlcted Fund8
44,098
77,933
149.8991
113.4051
66,725
Total fund
4,738.822
3.373,554 13,283,845)
4.912,490
R•strlctod lund$
The re51rfcl8d fvnds of th8 sGhool include in¢ome Gomprislng dOn￿on$, g¥an15 and Olher Incorn8 received on trust lo be u88d
f¢r burs91I88, EodyY08r8 5UPPOrt ortd dedlc¥bd Cla￿rOoM 4881slanl 8UPPOrt.
Unr8Strlctod fundB
The langlblo fixèd as$ets fund repffjsents the nai book ¥8￿8 of Iha schoofs langlblE fixed a$$a18 le55 the relatgd loans. A
dacislon was made lo separate thi$ fund from the ooneral fund of the school In re¢ognlllon of the fact Ihèt th8 langlble fixed
a$sels yre es$8ntl81 lo the day to day work of the school and as a $uch Iheir ¥aluo should not bg rEgarded 88 funds Ihatwoulij
b¢ reollsable with e85e in order to meet fulurÈ conlingencles.
A transfer oc¢ur8 each year from Ihe lang1ble fixed 85È81s fL￿d to ts unrègirfct8d funds foilhe depr8callon eiemonlclthe
fixed assets.
Thore hos been B tran$ferfrom the rnslrfclsd funds for monles which have been spent ITh lh8 unre¥￿¢ted fthds.
Deslonatod Fund
The Head's Discrelion8ry F￿dIS fun08d by donatk)rb8 from parents and used at lh8 dlscrelbn of Ihe Head In order to assist
dev81opmenl and weKare of indlvldual pupll¥.
In 2020, thè g￿eMOr5 Iran$lerred £100.0(YJ from ueneral reserves ￿ sei up 8 d&3lgnaiÈd Hafd$hlp FutKJ in re$rx)n88 lo Ihe
Cov1￿18 pandemlc 10 5UPPOrt pupils and tnelrfamilies during Ih8 5urM)er lertn and beyond Ir necessary.
Page 32

The Cavendish School Charitable Trust Limited
NOTES TO THE FINANCIAL STATEMENTS
for the
ar ended 31 Au
ust 2022
19 ANALYSIS OF NET ASSETS BEfwEEN FUNDS
H&a(f$
Unrastricted Tanglble Fixed Di8cr&donary
lunds
A869t Fund
Fund
R88lri¢ted
fund
2022
Total
Tanglbl8 fixBd aasets
Cu￿0￿1 a8s&IÉ
4,169,538
2.65B,128
1672,4701
1433,5001
4.169,$38
2.700,419
1948,0611
1847.2401
5.240
37,051
Long term Ik8bVth¢s
175,5911
1413,7491
Tolal net 88881$
1352 158
3680198
5 074 647
e8d's
Unroslrl¢tsd T4nglbJ8 FIx8d 015cr8Uon8ry
funds
AB8al Fund
Fwd
R8slrlthd
fund
2021
Total
Tanglbb fixed 888el$
Current assets
4,290,332
2,289,888
1793,5431
1377,0001
4290.332
2,354,677
1866,1801
1886,3391
6.oe4
58.725
Lon9 l&m 1obll41•s
172.8371
1489,3391
T¢l•l n818s$018
1.119345
3 728 3S6
20 COMMITMENTS UNDER OPERATING LEASES
Al 31 August 2022, the company had ouisiandlng commliment8 forfutwe mlnlmum18asa payment4 undw non.c9nGolla￿e
opgrollng1gase8, which fall due as follows..
2022
Ofllc•
gqulpmont
2021
Offic8
•qulpmenl
Du8 withln ono
Dua b&lw08n and fve ygors
8,957
17,915
8,987
28,872
21 RELATED PAi¥fiES
Five12021.' fw8 Govornor8 vtho ure 81so par•nls had chffth8n ottendthg the $chool during the finandal year. Fees p81d by th8
Governors are Ihe same 8s lees paid by ￿horS. At the y88r end the School w8$ Owgd £nll 12021.. £nill by 8 Govemor In
rolaiion lo nursery 8es$ions f?r Ihelrchlld.
The s¢hooi h8s pu￿h898d Insurance lo protect thF school from Ioss 8rtHlng from the neglect or delaull$ oi Ils GoY8mor$. The
Insurance prsmium payab￿ by the school dudng the yegr tot8ll¢d £1,02812021.. £1,17418nd provide5 cover E>f up to a
axlmum of£2 rnllllon.
riig th? year no governors were awarded g1ft$12021.' £nlll lor Ihelr a$slslanGv over Ihe Surnmer Teim. Durlng Ihe year lh8
govemoral80 donalad £nll12021.' £nill lo lh8 School's Buryary Fund.
Page 33

The Cavendish School Charitable Trust Limited
NOTES TO THE FINANCIAL STATEMENTS
for the
ear ended 31 Au
ust 2022
22 CAprrAL COMMITMENTS
The wmpany h8d capttal comrndmonts controcied for ixjl noi prov]d8d for in these flnanclal 5tal8trEnts of £nll 12021..
£23,505).
23 NOTES TO THE CASHFLOW STATEMENT
2022
2021
Reconclll8llcn of operating r88utt to ngtcash In￿ frorn
oparating adNrfles
Ntst movement In funds
Depreciation
Bank interest re¢8ived
Inleresl payable
Increas81108crea881 kn crgdllors
IlncreaB&IID8cr•a86 kn d6btor8
162,157
170,989
11,0701
22.076
135,427
158.919
89,709
178,012
14011
26.717
156,119
23,136
472 292
Anoly818 of ¢hang•• In not d•bt
Atl
S•ptembgr
2021
othqr non-
¢a•h
changèl
At31
Auguil
2022
C¥#h Ilow•
Ca•h Ind ci8h qqulv)lont8
C88h
Qv8rdr8ft6
cash Equl¥alenl$
2,300,218
28e.824
2,587,042
2,300,218
286,824
2.J87,042
8ott+)wlng•
Oebl duo wilhiTh ono year
08bt dufr after ona ye8r
72.818
489.158
-561.976
72,637
-7S,591
-TS,772
-413 587
-489.339
72,e37
To¢Jl
1,738.242
359,481
2.097,703
Pdgè 34