2020-08-31-accounts - Bute House Preparatory School For Girls Limited

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		Page
School information
Governors' Report
Independent Auditor's	Report	13
Statement of financial	activities
Balance sheet		15
Cash flow statement
Notes to the accounts		17

Governors gr I	Committees:	Committees:
			Finance	Bursary	Nominations	Education
Mr SWJWathen		(Chairman —resigned 09.09.19)
Mrs SBailes (Chair from 09.09.19)
Mrs A Barron
Mr TClementi	(resigned 09.09.19)
Mrs A Thomson
Miss KKerr
Mrs SKooros
Mrs A Aughwane		(resigned 14.10.19)
Mr M Perry
Mr JBeddtt (Vice-Chair from 09.09.19)
Mrs PMcAndrew
Dr M Sherman
Mrs LNettelton		(resigned 25.06.2020)

		Notes	Unrestricted	Restricted	Total	Total
			funds	funds	2020	2019
				6
INCOME AND ENDOWMENTS		FROM
Charitable activities
School fees			5,163,364		5,163,364	5,013,962
Other educational income			95,984		95,984	308,525
Registration fees and other			63,198		63,198	52,739
Other activities to generate	funds
Investment income			19,197		19,197	24 325
Donations				128,070	128,0/0	900,372
Other activities			5,953		5,953	25,831
Total income			5,347,696	128,070	5,475I766	6,325,754
TOTAL EXPENDITURE ON
Raising funds
Financing costs			1,688		1,688	4,086
Charitable activities
School operating costs and	grants		5,470,948	74,883	5,545,831	5,401,213
Total expenditure		5	5472~636	74I883	5~547~519	5405(299
Net income/(expenditme)	before		(124,940)	53,187	(71,753)	920,455
gain/(loss) on investments
Net (losses}/gains on investments		9		(1,446)	(1,446)	8,218
Net income/(expenditure)			(124,940)	51,741	(73,199)	928,673
Actuarial gain/(loss) on defined benefit pension scheme		17	(482)		(482)	(12,751)
Transfers		12	67,619	(67,619)
Net movement in funds			57803	158/8	(73681)	915922
Total funds brought forward			7,617,324	141,770	7,759,094	6,843,172
Total funds carried forward		13	7559521	125892	7685413	7759094

		Note		2020		2019
Fixed assets
Tangible fixed assets Investments				6,879,914 162,244		6,626,182 163,690
Current assets				7,042,158		6,789,872
Debtors Cash at bank and in	hand	10	254,070 2,349,847		398,560 2,988,345
			2,603,917		3,386,905
Creditors: amounts within one year	falling due		(1,911,220)	~2,364,7272
Net current assets				692,697		1,022,178
Total assets less current liabilities				7,734,855		7,812,050
Creditors: amounts	falling due after
one year
Net assets before pension liability				7,734,855		7,812,050
Defined benefit pension scheme		17		(49,442)		(52,956)
Net assets				7,685,413		7,759,394
Funds
Unrestricted funds
Generalfunds			679,607		979,957
Fixed assets fund			6,879,914		6,626,182
Bursary fund					11,185
				7,559,521		7,617,324
Restricted fends				125,892		141,770
Total funds		12		.635,413		7,759,594
The notes on pages 17to 34form part ofthese financial statements
ApprovedbytheBoardofGovemorsand its behalf by:		authorised	forissueon fL~		2021 and	signed on
Susan Bailes			Mark Perry
Chair			Chair ofFinance		Committee

						2020	2020		2019
Cash flows from operating		activities:
Net cash provided by/(used operating activities		in)		(see below)			(154,095)		1,506,306
Cash flows from investing		activities:
Interest received						19,197			24,325
Purchase ofproperty, plant		and equipment				(503,600)			(2,154,696)
Net cash provided by/(used activities		in) investing					(484,403)		(2,130,371)
Cash flows from financing		activities:
Repayment ofbank loan									(90,000)
Net cash provided by/(used activities		in) financing							(90,000)
						flow
Change in cash and cash equivalents			in the reporting period				(638,498		714,065)
Cash and cash equivalents		at the beginning ofthe period					2,988,345		3,702,410
Cash and cash equivalents		at the end	ofthe period				2,349,847		2,988,345
econciliationof n ti come ex enditur'e				to net	cash	frum	eratin	activities
Net income/(expenditure)	for the reporting			period			(73,199)		928,673
Adjustments for:
(Gains)/losses on investments							1,446		(8,218)
Non- cash movement on Independent			Schools' Pension			Scheme	(482)		(12,751)
Depreciation charges							302,918		245,775
Interest receivable							(19,197)		(24,325)
Loss/(profit) on the sale of	fixed assets								16,754
(Increase)/decrease in debtors							144,490		(153,839)
Increase/(decrease) in creditors							(510,071)		514,237
Net cash provided by/(used		in) operating		activities			(154,096)		1,506,306
Anal sisof chan esinn
				At the start of			Cash flows		At the end of
					year				year
Cash				2,988,345			(638,498)		2,349,847
				2,988,345			638,498)		2,349,847
									Page 16

School fees
						2020	2019
The school's fee income comprised:
Gross fees						5,308,307	5,233,644
Less: Bursaries and grants						(202,109)	(261,682)
						5,106,198	4,971,962
Add back: grants and bursaries		paid by restricted		funds		57,166	42,000
Operating school fee (excluding		bursaries	and Hardship		grants)	5,163,364	5,013,962
The treatment ofBursaries and	Grants during the			year means the following:
						2020	2019
			Unrestricted		Restricted	Total	Total
				funds	funds	funds	funds
Net result for the year			(61,087)		(12,593)	(73,680)	915,922
Add back:
Bursaries funded from restricted	funds				57,166	57,166	42,000
Bursaries funded from unrestricted funds				11,185		11,185	219,682
Hardships funded *om restricted		funds
Less:
Donations to the Building Fund			(67,619)			(67,619)	(825,872)
Operating surplus for the year			(117,521)		44,573	(72,948)	351,732

Other income
	2020	2019
Donations:		E
Bursary Fund (restricted) Sainsbury Fund (restricted) Saturday School (restricted) Building Fund (restricted)	57,166 67,619	42,000 2,500 30,000 825,872
STEAM week (restricted	3,285
	128,070	900,372
Other activities:
Facilities hired out by the School	5,953	25,831
Donation income includes gift aid income on relevant donations.

Financing costs
	2020	2019
Interest payable on bank loan	(760)	1,290
Other interest payable	555	809
Bank charges	1,893	1,987
	1,688	4,086

2020		Staff costs	Other costs	Depreciation	Total
		6		6
Raising Funds
Finance costs			1,688		1,688
Charitable activities
School operating costs:
Teaching		2,789,716	501,153	169,724	3,460,593
Welfare (induding	catering)		253,467	3,976	257,443
Premises		112,295	423,772	129,218	665,285
Support costs (note 6)		874,155	288,355		1,162,510
		3,776,166	1,466,747	302,918	5,545,831
Total Expenditure		3,776,166	1,468,435	302,918	5,547,519

2019			Staff costs	Other costs	Depreciation	Total
				6
Raising Funds
Finance costs				4,086		4,086
Charitable activities
School operating	costs:
Teaching			2,542,358	737,587	112,581	3,392,526
Welfare (including		catering)		338,326	3,976	342,302
Premises			137,624	378,021	129,218	644,863
Support costs			703,283	318,239		1,021,522
			3,383,265	1,772,173	245,775	5,401,213
Total Expenditure			3,383,265	1,776,259	245,775	5,405,299

			2020	2019
Current auditor
Auditor -	Audit fees	(current year)	11,750	11,700
-	Audit fees	(prior year under accrual)	400
Auditor -	Non-audit	fees	2,350	1,600
Governors'	expenses		1,487	8,287
			15,987	21,587

Total staff	costs were as follows:
		2020	2019
Wages and	salaries	2,941,622	2,754,067
Employer's	national insurance	309,899	280,160
Employer's	pension contributions	524,645	349,038
Total staff	costs	3,776,166	3,383,265

2020	2019
No	No

	2020	2019
	No	No
Teaching	37	41
Teaching assistants	10	11
Non-teaching		29
	82	81

	2020	2019
	No	No
Teaching	33	37
Teaching assistants	10	11
Non-teaching	28	27
	71

8.	Tangible fixed assets
		Leasehold	Plant and
		premises	Equipment	Total
				E
	Cost
	At 1September 2019	8,571,485	1,266,191	9,837,676
	Additions	342,502	214,148	556,650
	Disposals		(42,537)	(42,537)
	At 31August 2020	8,913,987	1,437,802	10,351,789
	Depreciation
	At 1September 2019	2,429,947	781,547	3,211,494
	Charge for the year	175,997	126,921	302,918
	Disposals		(42,537)	(42,537)
	At 31August 2020	2,605,944	865,931	3,471,875
	Net book value
	At 31August 2020	6,308,043	571,871	6,879,914
	At 31August 2019	6,141,538	484,644	6,626,182
9.	Fixed asset investments
			2020	2019
	UKManaged Funds		E
	Market value at 1September 2019 Unrealised investment gains/(losses)		163,690 ~1,446)	155,472 8,218
	Market value at 31August 2020		162,244	163,690
	Historical cost at31August 2020		120,799	120,799

		2020	2019
Fee debtors		28,214	35,397
Other debtors		(2,666)	357
Prepayments	and accrued income	228,522	362,806
		254,070	398,560

	2020	2019
Trade creditors	43,476	65,178
Accruals	94,047	607,652
Deferred income	133,933	82,108
Acceptance fees deposits	1,637,068	1,609,108
Other creditors	2,696	681
	1,911,220	2,364,727

2020						Transfers,
			Balance at			actuarial	Balance at
			1September			gain, and	31August
			2019	Income	Expenditure	loss on	2020
						investments
Unrestricted	Funds:
General funds			979,956	5,347,696	(5,169,718)	(478,327)	679,607
Fixed asset fund			6,626,182		(302,918)	556,650	6,879,914
Bursary fund			11,186			(11,186)
Restricted Funds:
Bursary fund				57,166	(57,166)
The Sainsbury Fund			110,132			(1,446)	108,686
Saturday School			31,638		(14,432)		17,206
Building Fund				67,619		(67,619)
STEAM week				3,285	(3,285)
			7,759,094	5,475,766	(5,547,519)	(1,928)	7,685,413
2019			Balance at			Transfers,	Balance at
			1September			aduarial	31August
			2018	Income	Expenditure	gain, and	2019
						loss on
						investments
Unrestricted		Funds:
General funds			1,884,142	5,425,382	(5,097,706)	(1,231,862)	979,956
Fixed asset	fund		4,607,292		(245,775)	2,264,665	6,626,182
Bursary fund			230,868			(219,682)	11,186
Restricted Funds:
Bursary fund				42,000	(42,000)
The Sainsbury Fund			99,414	2,500		8,218	110,132
Saturday School			21,456	30,000	(19,818)		31,638
Building				825,872		(825,872)
Fund
			6,843,172	6,325,754	(5,405,299)	(4,533)	7,759,094

Analysis ofnet assets between funds	Analysis ofnet assets between funds
2020	Tangible		Other
	fixed		assets/
	assets	Investments	(liabilities)	Total
				6
Unrestricted Funds:
General funds			679,607	679,607
Fixed asset fund	6,879,914			6,879,914
Bursary fund
Restricted Funds:
The Sainsbury Fund		162,244	(53,558)	108,686
Saturday School			17,206	17,206
Total funds 2020	6,879,914	162,244	643,255	7,685,413
2019	Tangible		Other
	fixed		assets/
	assets	Investments	(liabilities)	Total
		8	8
Unrestricted Funds:
General funds			979,956	979,956
Fixed asset fund	6,626,182			6,626,182
Bursary fund			11,186	11,186
Restricted Funds:
The Sainsbury Fund		163,690	(53,558)	110,132
Saturday School			31,638	31,638
Total funds 2019	6,626,182	163,690	969,222	7,759,094

e disclosure below shows future pa	yments being made a	t 683,500p.a.	in respect ofthis	lease.
	2020	2020	2019	2019
	6
	Land and		Land and
	buildrngs	Other	buildings	Other
Within one year	83,500	26,833	83,500	26,833
Between two and five years	334,000	74,038	334,000	98,000
In over five years	8,183,000		8,266,500
	8,600,500	100,871	8,684,000	124,833

			31	August 2020	31August 2019	31August 2018
				(Es)	(Es)	(Es)
Present	value	ofprovision		49,442	52,956	43,156

					Period Ending	Period Ending	Period Ending	Period Ending
					31August	2020	31August	2019
					(Ks)		(Es)
Provision at start ofperiod						52,956		43,156
Unwinding ofthe	discount factor	(interest expense)				555		809
Deficit contribution	paid					(4,551)		(3,760)
Re-measurements	-impact ofany	change in		assumptions				2,379
Re-measurements schedule	- amendments	to	the	contribution				10,372
Provision at end ofperiod						49,442		52,956

				Period Ending	Period Ending	Period Ending	Period Ending
				31August	2020	31August	2019
				(Ks)		(Ks)
Interest expense					555		809
Remeasurements	—impact ofany	change in	assumptions		482		2,379
Remeasurements schedule	—amendments	to the	contribution				10,372
Contributions paid in respect offuture service'
Costs recognised	in income and expenditure		account

		31August 2020	31August 2019	31August 2018
		%per annum	%per annum	%per annum
Rate	ofdiscount	0.90	1.10	1.96

Comparative statement	offinancial activities	offinancial activities
				Unrestricted	Restricted	Total
				funds	funds	2019
INCOME AND ENDOWMENTS FROM
Charitable activities
School fees				5,013,962		5,013,962
Other educational income				308,525		308,525
Registration fees and	other	income		52,739		52,739
Other activities to generate		funds
Investment income				24,325		24,325
Donations					900,372	900,372
Other activities				25.381		25,381
Total income				5,425,382	900,372	6,325,754
TOTAL EXPENDITURE ON
Raising funds
Financing costs				4,086		4,086
Charitable activities
School operating costs and		grants		5,339,395	61,818	5,401,213
Total expenditure				5,343,481	61,818	5,405,299
Net income/(expenditure) investments		before gain/(loss)	on	81,901	838,554	920,455
Net gains/(losses) on	investments				8,218	8,218
Net income/(expenditure)				81,901	846,772	928,673
Actuarial gain/(loss)	on defined benefit pension
scheme				(12,751)		(12,751)
Transfers				825,872	(825,872)
Net movement in funds				895,022	20,900	915,922
Total funds brought	forward			6,722,302	120,870	6,843,172
Total funds carried forward				7,617,324	141,770	7,759,094