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





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|Governors<br>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)|||||



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|||Notes|Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|2020|2019|
|||||6|||
|INCOME AND ENDOWMENTS||FROM|||||
|Charitable<br>activities|||||||
|School fees|||5,163,364||5,163,364|5,013,962|
|Other educational<br>income|||95,984||95,984|308,525|
|Registration<br>fees and other|||63,198||63,198|52,739|
|Other activities to generate|funds||||||
|Investment<br>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<br>activities|||||||
|School operating<br>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)<br>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<br>gain/(loss)<br>on defined<br>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|





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|||Note||2020||2019|
|---|---|---|---|---|---|---|
|Fixed assets|||||||
|Tangible fixed assets<br>Investments||||6,879,914<br>162,244||6,626,182<br>163,690|
|Current assets||||7,042,158||6,789,872|
|Debtors<br>Cash at bank and in|hand|10|254,070<br>2,349,847||398,560<br>2,988,345||
||||2,603,917||3,386,905||
|Creditors: amounts<br>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<br>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<br>its behalf by:||authorised|forissueon fL~||2021 and|signed<br>on|
|Susan Bailes|||Mark Perry||||
|Chair|||Chair ofFinance||Committee||





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





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|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<br>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<br>funds||||11,185||11,185|219,682|
|Hardships<br>funded *om restricted||funds||||||
|Less:||||||||
|Donations to the Building Fund|||(67,619)|||(67,619)|(825,872)|
|Operating<br>surplus<br>for the year|||(117,521)||44,573|(72,948)|351,732|





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|Other income|||
|---|---|---|
||2020|2019|
|Donations:||E|
|Bursary Fund (restricted)<br>Sainsbury<br>Fund (restricted)<br>Saturday School (restricted)<br>Building Fund (restricted)|57,166<br>67,619|42,000<br>2,500<br>30,000<br>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<br>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|





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|2019|||Staff costs|Other costs|Depreciation|Total|
|---|---|---|---|---|---|---|
|||||6|||
|Raising Funds|||||||
|Finance costs||||4,086||4,086|
|Charitable<br>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<br>Unrealised<br>investment<br>gains/(losses)|||163,690<br>~1,446)|155,472<br>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|



## 



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|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<br>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<br>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|





## 



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|Analysis ofnet assets between funds|Analysis ofnet assets between funds||||
|---|---|---|---|---|
|2020|Tangible||Other||
||fixed||assets/||
||assets|Investments|(liabilities)|Total|
|||||6|
|Unrestricted<br>Funds:|||||
|General funds|||679,607|679,607|
|Fixed asset fund|6,879,914|||6,879,914|
|Bursary fund|||||
|Restricted Funds:|||||
|The Sainsbury<br>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<br>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<br>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|



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|e disclosure below shows future pa|yments<br>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|



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||||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<br>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<br>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<br>schedule|—amendments|to<br>the|contribution||||10,372|
|Contributions<br>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|





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|18.|Comparative<br>statement|offinancial activities|offinancial activities|||||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|
||||||funds|funds|2019|
||INCOME AND ENDOWMENTS FROM|||||||
||Charitable<br>activities|||||||
||School fees||||5,013,962||5,013,962|
||Other educational<br>income||||308,525||308,525|
||Registration<br>fees and|other|income||52,739||52,739|
||Other activities to generate||funds|||||
||Investment<br>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<br>activities|||||||
||School operating<br>costs and||grants||5,339,395|61,818|5,401,213|
||Total expenditure||||5,343,481|61,818|5,405,299|
||Net income/(expenditure)<br>investments||before gain/(loss)|on|81,901|838,554|920,455|
||Net gains/(losses)<br>on|investments||||8,218|8,218|
||Net income/(expenditure)||||81,901|846,772|928,673|
||Actuarial<br>gain/(loss)|on defined benefit pension||||||
||scheme||||(12,751)||(12,751)|
||Transfers||||825,872|(825,872)||
||Net movement<br>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|