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|he|Elstree Sc|hools|||||
|---|---|---|---|---|---|---|
||||Haberdashers'<br>Bo|s'|Haberdashers'|Girls'|
|Affiliations|||HMC —Headmasters'|&|GSA —Girls' School|Association|
||||Headmistresses'<br>Conference||GBGSA —Governing|Bodies of|
||||IAPS —Independent<br>Association||Girls' Schools Association||
||||Of Prep Schools||||
||||IBSC —International<br>Boys'||||
||||School Coalition||||
|ISI|Inspection|date|November/December|2011|January 2014||
|(reports on ISIwebsite)|||RCI November 2017||RCIJanuary|2018|
|Pu|ils at Se tember 2021||1 424||1 164||
|2021 GCSE||rades A"/9/8 &A/7|99.5%||98.8%||
|2021 A Levels||rades A* to B|98.6%||97.5%||



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## 

|~|To|promote<br>common|values|in Haberdasher<br>'|in Haberdasher<br>'|schools:||||
|---|---|---|---|---|---|---|---|---|---|
|||Attributable<br>to pupils:||||Attributable<br>to|schools:|||
|||Open minded|/ intellectual||curiosity|Aspirational|/ stretching|||
|||Good citizenship||||Accessible||||
|||Cultural<br>diversity||||Academic|equality|ofopportunity||
|||Rounded||||Ethical||||
|||Innovative||||Humane||||
|||Co-operative||||Exciting||||
|||||||Supportive|of Christian||values|



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## 

## 

## 

|Unrestricted|Unrestricted||Funds||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Fund||||Fund represents||||||||||||Balance at|
|||||||||||||||||31 August|
|||||||||||||||||2021|
|||||||||||||||||6'000|
|Schools|and||Governors'|Working capital|held||by the||Schools|||||||29,576|
|general|funds||||||||||||||||
|Building|fund|||Funds<br>required|to repay|||private||placement||loan||in|2051; loan|(35,000)|
|||||obtained to finance||building|||projects||at the|Schools|||||
|Pension|fund|||Net deficit on the Schools' defined<br>benefit pension|||||||||||scheme as|(1,543)|
|||||calculated<br>in accordance||||with FRS102;the||||Schools|||contribute||
|||||towards the deficit in|||accordance|||with|an agreed|||recovery plan|||
|||||(see note 18)|||||||||||||
|Non-charitable|||trading|Working<br>capital|held||by the||Charity's||trading||subsidiary||||
|funds|||||||||||||||||
|||||Total Schools|funds|||||||||||(6,966)|
|Foundation||income fund||Funds<br>held<br>by|the||Charity||for|expenditure|||on||its general|209|
|||||purposes|||||||||||||
|||||Total unrestricted||funds||||||||||6,757|





## 

|Restricted Funds|Restricted Funds|Restricted Funds|Restricted Funds|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Fund||||Fund restricted to|||||||||||||Balance at|
||||||||||||||||||31August|
||||||||||||||||||2021|
||||||||||||||||||f'000|
|Schools restricted|||fund|Provision ofbursaries,||scholarships||||and|||prize funds||||120|
|Simon Stuart endowment||||Provision of|bursaries|for the Boys'||||School|||||||2|
|Bursaries Appeal|||Fund|Provision of|bursaries|for both|||schools||||||||180|
|||||Total restricted<br>funds|||||||||||||302|
|Endowed|Funds|||||||||||||||||
|Fund||||Fund represents|||||||||||||Balance at|
||||||||||||||||||31 August|
||||||||||||||||||2021|
||||||||||||||||||f'000|
|Aske's||permanent||Base value|ofthe endowment||||- invested||||to generate||a return||1,578|
|endowment||||that the Charity can use|||to|support||its general<br>purposes||||||||
|||||Investment|return<br>generated||||by the||endowment|||-|used|to|30,634|
|||||support<br>the|Charity's|activities|||(see|page 13for details of||||||the||
|||||Trustee's<br>pay out policy|||in|relation to this|||||fund)|||||
|||||Carrying<br>value ofthe Schools'|||||land|and||buildings|||||84,758|
|||||Total funds|belonging||to|the Aske's|||permanent||||||118,970|
|||||endowment||||||||||||||
|Other endowed||funds||Endowment|funds invested|||to|generate|||income to support||||the|1,938|
|||||provision of|bursaries|by|the Charity|||||||||||
|||||Total endowed<br>funds|||||||||||||118888|
|COVID-19Impact||||||||||||||||||



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## 

|||||Unrestricted|Funds|||||
|---|---|---|---|---|---|---|---|---|---|
||||||||||Total|
||||||Asks's|Restricted|Endowment|Total|2020|
|||||Schools|Income|Funds|Funds|2021|(restated)|
|||||E'000|f 000|E'000|f'000|E'000|E'000|
|Income and endowments||from:||||||||
|Donations|||||158|529||687|50|
|Charitable<br>activities:||||||||||
|Schoolfees|||3|46,689||||46,689|44,502|
|Other educational|income||4|2,427||246||2,673|1,939|
|Other trading<br>activities:||||||||||
|Trading<br>income||||1,331||||1,331|1,975|
|Other income:||||||||||
|Coronavirus<br>job retention||scheme||||165||165|543|
|Investments:||||||||||
|Investment<br>income||||78|49||46|178|234|
|||||50,525|207|945|46|51,723|49,243|
|Expenditure<br>on:||||||||||
|Raising funds:||||||||||
|Loan interest and|related|fees||609||||609|154|
|Fees in advance|discount|||173||||173|163|
|Investment<br>management|||||||||7|
|Trading cost ofsubsidiaries||||1,523||||1,523|2,248|
|Charitable<br>activities:||||||||||
|Schools||||42,578|830|1,070|1,735|46,213|45,656|
|FRS102 pension|scheme|||||||||
|net interest cost|||18|28||||28|34|
||||5|44,911|830|1,070|1,735|48,546|48,262|
|Net gains on investments|||||4|6|6,436|6,446|887|
|Net income/(expenditure)||||5,614|(619)|(119)|4,747|9,623|1,868|
|Transfers<br>between|funds||6|(11,202)|739|142|10,321|||
|Other recognised|gains:|||||||||
|Actuarial<br>gains on defined||benefit||||||||
|scheme|||18|10||||10|287|
|Net movement<br>in|funds|||(5,578)|120|23|15,068|9,633|2,155|
|Reconciliation<br>of|Funds:|||||||||
|Total funds<br>brought|forward|||(1,388)|89|279|103,840|102,820|100,665|
|Total funds carried forward||||(6,966)|209|302|118,908|112,453|102,820|





## 

## 

||||||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Note|2021|2020|2021|2020|
||||||||||8'000|8'000|8'000|6'000|
|Fixed assets:|||||||||||||
|Tangible assets||||||||7|91,100|81,520|91,100|81,520|
|Investments||||||||8|40,500|34,703|40,500|34,703|
||||||||||131,600|116,223|131,600|116,223|
|Current assets:|||||||||||||
|Stocks|||||||||20|17|20|17|
|Debtors||||||||10|1,995|1,409|2,055|1,409|
|Investments|||||||||6,524|9,464|6,524|9,464|
|Cash at bank and|||in|hand|||||35,127|392|35,060|388|
||||||||||43,666|11,282|43,659|11,278|
|Liabilities:|||||||||||||
|Creditors: amounts|||falling||due within||||||||
|one year||||||||11|(14,221)|(11,899)|(14,216)|(11,896)|
|Net current assets/(liabilities)|||||||||29,445|(617)|29,443|(618)|
|Total assets less|||current|||liabilities|||161,045|115,606|161,043|115,605|
|Creditors:|amounts|||falling||due|in more than||||||
|one year||||||||12|(47,049)|(11,199)|(47,048)|(11,199)|
||||||||||113,996|104,407|113,995|104,406|
|Defined<br>benefit pension scheme|||||||liability|18|(1,543)|(1,587)|(1,543)|(1,587)|
|Total net assets|||||||||112,453|102,820|112,452|102,819|
|The Funds|ofthe||Charity:||||||||||
|Endowment|funds|||||||6|118,908|103,840|118,908|103,840|
|Restricted|funds|||||||6|302|279|302|279|
|Unrestricted|funds:||||||||||||
|General|funds|||||||6|29,785|287|29,785|287|
|Building|fund|||||||6|(35,000)||(35,000)||
|Non-charitable||trading|||funds|||6|1|1|||
|Pension|scheme||fund|||||6|(1,543)|(1,587)|(1,543)|(1,587)|
|Total Charity Funds|||||||||112,453|102,820|112,452|102,819|





## 

|||||||2021|2021|2020|2020|
|---|---|---|---|---|---|---|---|---|---|
|||||||6'000|F'000|6'000|6'000|
|Net cash provided<br>by/(used||in)|operating||activities||9,562||(711)|
|Cash flows from investing||activities:||||||||
|Investment<br>income received||||||178||234||
|Purchase<br>oftangible<br>fixed assets||||||(12,760)||(9,425)||
|Purchase<br>of investments||||||||(187)||
|Proceeds from sale of investments||||||||6,058||
|Drawn from Charities<br>Investment|||Pool (Total Return)|||704||3,722||
|Net cash used<br>in investing||activities|||||(11,878)||402|
|Cash flows from financing||activities:||||||||
|Repayment<br>of borrowing||||||(889)||(1,257)||
|Receipts of borrowing||||||35,000||||
||||||||34,111||(1,257)|
|Change<br>in cash and cash <br>reporting<br>period|equivalents|||in the|||31,795||(1,566)|
|Cash and cash equivalents|at the||beginning||of the|||||
|reporting<br>period|||||||9,856||11,422|
|Cash and cash equivalents<br>reporting<br>period||at the end||ofthe|||41,651||9,856|





## 

## 

|||||2021|2020|
|---|---|---|---|---|---|
|||||6'000|6'000|
|Net income for the|reporting|period||9,627|1,868|
|Adjustments<br>for:||||||
|Gains on investments||||(6,446)|(887)|
|Investment<br>income||||(178)|(234)|
|Depreciation||||3,041|3,291|
|Loss on disposal of fixed asset||||139|971|
|Pension scheme adjustment||||(34)|(7)|
|(Increase)/decrease|in stocks|||(3)|83|
|Increase/(decrease)|in creditors|||4,057|(105)|
|Increase<br>in debtors||||(586)|(42)|
|Increase<br>in cash held for investment||||(55)|(5,649)|
|Net cash provided|by/(used|in) operating|activities|9,562|(711)|



## 

|||2021|2020|
|---|---|---|---|
|||8'000|P.000|
|Cash in hand||35,127|392|
|Investments|(current assets)|6,524|9,464|
|Total cash and cash equivalents||41,651|9,856|



## 

|YSIS|OF CHANGES<br>IN NET FUNDS||||
|---|---|---|---|---|
|||At 1||At 31|
|||September|Cash|Augus't|
|||2020|flows|2021|
|||E'000|E'000|E'000|
|Cash|in hand|392|34,735|35,127|
|Cash|equivalents|9,464|(2,940)|6,524|
|Loans|falling due within one year|(858)|(24)|(882)|
|Loans|falling due after more than one year|(4,816)|(34,087)|(38,903)|
|Net funds||4,182|(2,3163|1,866|





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## 

|||||||||||2020|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2021|(restated)|
||||||||||E'000|5'000|
|Interest from bank||deposits|||||||90|120|
|Income from listed||investments||||||||79|
|Income from investment<br>property<br>Distributions<br>from Haberdashers'||||||Charities|Investment|Pool (Total Return)|46<br>42|(3)<br>38|
||||||||||178|234|
|TUITION|||||||||||
||||||||||2021|2020|
||||||||||E'000|K'000|
|Gross Fees|||||||||51,153|48,510|
|Less:|||||||||||
|Scholarships|||||||||(1,015)|(878)|
|Bursaries|||||||||(2,866)|(2,534)|
|Staff fee remission|||||||||(947)|(850)|
||||||||||46,325|44,248|
|Add back: Bursaries|||paid out of|||restricted|income||364|254|
||||||||||46,689|44,502|
|Numbers<br>of|pupils|benefiting|||from:||||||
|Scholarships|||||||||301|298|
|Bursaries|||||||||183|166|



## 

## 



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## 

## 

|TOTAL RESOURCES EX||PENDED||||||
|---|---|---|---|---|---|---|---|
|||||Other||||
||||Staff|direct|Deprec-|Total|Total|
||||Costs|costs|iation|2021|2020|
||||6'000|6'000|8'000|5'000|(restated)|
||||||||8'000|
|Raising funds:||||||||
|Loan interest and related||fees||609||609|154|
|Investment<br>management|||||||7|
|Fees in advance discount||||173||173|163|
|Trading costs of subsidiary|||46|1,477||1,523|2,248|
||||46|2,259||2,305|2,572|
|Charitable<br>expenditure:<br>Teaching costs<br>School welfare|||21,107<br>166|2,444<br>1,979||23 551<br>2, 145|23539<br>2,423|
|School premises costs|||1,140|6,706|1,735|9,581|10,474|
|Public relations<br>and marketing||||312||312|184|
|Grants<br>paid to Haberdashers'<br>Federation<br>Trust||||508||508|430|
|Support costs<br>Governance<br>costs|||5,362<br>11|3,362<br>75|1,306|10,030<br>86|8,533<br>73|
|FRS102 pension scheme||net||||||
|interest costs (see note||18)||28||28|34|
||||27,786|15,414|3,041|46,241|45,690|
|Total resources expended|||27,832|17,903|3,041|48,546|48,262|
|||||||2021|2020|
|||||||8'000|6'000|
|Charitable<br>expenditure||includes:||||||
|Remuneration<br>ofSchools'||auditors|for audit services|||45|38|
|Remuneration<br>of Schools'||auditors|for tax services|||8||
|Remuneration<br>of Charity's||auditors|for audit services|||18|10|
|Rentals under operating<br>leases:<br>Equipment<br>Payment<br>to the Trustee for service|||charges|||439<br>14|587<br>18|





## 

## 

|||||2021|2020|
|---|---|---|---|---|---|
|||||E'000|E'000|
|Staff costs comprised:||||||
|Wages|and salaries|||20,960|21,040|
|Social security costs||||2,364|2,373|
|Pension|contributions|||4,257|4,276|
|Other costs||||133|144|
|Payment|ofTrustees'|staff under paymaster|agreement|118|118|
|||||27,832|27,951|



|||||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||E'000|E'000|
||Aggregate|employee-benefits|||of key management||personnel|||3,507|3,659|
|The|average numbers<br>of employees||||in the year were:|||||||
|||||||||||2021|2020|
|||||||||||No.|No.|
||Teaching|staff||||||||316|326|
||Other staff|||||||||203|196|
|||||||||||519|522|
||Numbers|of higher-paid|employees<br>earning|||in excess ofE60,000||were:||||
|||||||||||2021|2020|
|||||||||||No.|No.|
||E60,001 to F70,000|||||||||43|42|
||E70,001 to E80,000|||||||||22|22|
||F80,001 to E90,000|||||||||3|3|
||F90,001 to E100,000|||||||||4|3|
||E100,001|to F110,000||||||||1|1|
||F120,001|to E'130,000|||||||||1|
||E140,001|to E150,000||||||||1|1|
||F170,001|to E180,000||||||||1|2|
||E180,001|to E190,000||||||||1||
||Payments|made<br>in addition||to|the bandings|above:||||||
||||||||2021|2021||2020|2020|
||||||||E'000|E/ee|No.|E'000|E/ee No.|
||Termination<br>or redundancy|||payments|||113||8|113|4|
||Out ofwhich are outstanding||||at year end||25||1|85|2|





## 

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## 

## 

|(a) Fund Movements|(a) Fund Movements||Balance||||Other||Balance|
|---|---|---|---|---|---|---|---|---|---|
||||1September||||recognised|Nst|31 August|
||||2820|Income||Expenditure|Gain/loss|Transfers|2021|
||||8'000|8'000||E'000|8'000|8'000|8'000|
|General funds —Charity:||||||||||
|Schools general<br>fund||||||||||
|excluding<br>building|fund|and||||||||
|pension|||198|49,301||(43,251)||23,328|29,576|
|Building fund'||||||||(35,000)|(35,000)|
|Pension reserve**|||(1,587)|||(137)|10|171|(1,543)|
|Aske Income Fund|||(1,389)<br>89|49,301<br>207||(43,388)<br>(830)|10<br>4|(11,501)<br>739|(6,967)<br>209|
|Total unrestricted|funds—|||||||||
|Charity|||(1,300)|49,508||(44,218)|14|(10,762)|(6,758)|
|Non-charitable<br>trading||funds|1|1,224||(1,523)||299||
|Total unrestricted|funds—|||||||||
|Group|||)1,299)|59732|,|)45,741)|14|(10,463)|(6,757)|
|Restricted funds||||||||||
|Schools restricted|funds||120|940||(1,067)||127|120|
|Simon Stuart Scholarship<br>Bursaries Appeal<br>Fund|||2<br>157|||(3)|6|15|2<br>180|
|Total restricted funds|||279|945||(1,070)|6|142|302|
|Endowment<br>funds||||||||||
|Dr Margaret<br>Bent endowment<br>Simon Stuart endowment|||5<br>77|4<br>2|||13|(2)|9<br>90|
|Bursaries Appeal|endowment||1,576|40|||263|(40)|1,839|
|Asks's permanent<br>endowment*"*|||102,182|||(1,735)|6,160|10,363|116,970|
|Total endowment|funds||103,840|46||(1,735)|6,436|10,321|118,908|
|Total Funds|||102,820|51,723||(48,546)|6,456|~|112,453|





## 

## 

|(b) Fund|Transfers||||Non.||||
|---|---|---|---|---|---|---|---|---|
||||||charitable|Charitable||Permanent|
||||||Trading|Unrestricted|Restricted|endowment|
||||||funds|funds|funds|fund|
||||||f'000|f'000|f'000|f'000|
|New & replacement||school||buildings||(11,244)||11,244|
|Unapplied|total return||for application|||904||(904)|
|Transfers|to school|bursary||funds||(100)|100||
|Loan repayments||||||(23)||23|
|Transfer|of Pool investment|||income|||42|(42)|
|Coach services paid|||by Schools||299|(299)|||
||||||299|(70,762)|142|10,321|



## 

|TANGIBLE FIXEDAS|SETS||||||
|---|---|---|---|---|---|---|
||Freehold|Leasehold|All weather|Equipment||Group &|
||land and|land and|sports|and|Motor|Charity|
||buildings|buildings|pitches|furnishings|Vehicles|Total|
||f'000|f'000|f'000|f'000|f'000|f'000|
|Cost|||||||
|1 September 2020|93,880|3,354|2,443|11,673|76|111,426|
|Additions|11,312|||1,440|8|12,760|
|Disposals|(88)|||(491)||(579)|
|31 August 2021|105,104|3,354|2,443|12,622|84|123,607|
|Depreciation|||||||
|1 September 2020|21,635|258|885|7,052|76|29,906|
|Charge for year|1,735|31|123|1,151|1|3041|
|Disposals|(20)|||(420)||(440)|
|31 August 2021|23,350|289|1,008|7,783|77|32,507|
|Net book value|||||||
|31 August 2021|81,754|3,065|1,435|4,839|7|91,100|
|31 August 2020|72,245|3,096|1,558|4,621||81,520|





## 

## 

## 

|INVESTMENTS|INVESTMENTS||||||
|---|---|---|---|---|---|---|
|Charity and|Group||||2021<br>F'000|2020<br>8'000|
|Haberdashers'|Charities|Investment|Pools||34,366|28,634|
|Investment<br>cash|||||6, 134|6,069|
||||||40,500|34,703|
|Charity and|Group||||||
||||||Charities||
|||||Charities|Investment||
|||||Investment|Pool (Total||
|||||Pool|Return)|Total|
|||||8'000|6'000|F'000|
|Market value|at 1 September 2020|||1,655|26,979|28,634|
|Withdrawal|||||(704)|(704)|
|Gain on revaluation||||276|6,160|6,436|
|Market value|at 31 August 2021|||1,931|32,435|34,366|



## 

## 

|endowment|fund.<br>No ne|w endow|ment|gifts ha|ve been received|since the bas|e date.||
|---|---|---|---|---|---|---|---|---|
||||||Trust|Unapplied|||
||||||for|Total|Total|Total|
||||||investment|Return|2021|2020|
||||||E'000|OOOO|5'000||
|||||||||8'000|
|Trust for investment<br>at 1||September 2020|||1,578|25,355|26,933|30,069|
|Investment|returns:||||||||
|Realised|and unrealised|gains||||6,160|6,160|775|
|Transfer to trust for application||||||(904)|(904)|(930)|
|Withdrawal|for purchase|ofresidential||property||||(3,004)|
|Replacement<br>ofcapital expended|||prior|to|||||
|inception|ofthe total return approach|||||23|23|23|
|Trust for investment<br>at||31August 2021|||1,578|30,634|32,212|26,933|





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## 

## 

|At 31 Augu<br>cancellable|st 2021, the Charity was committed<br>to <br>operating<br>leases as follows:|total future<br>minimum<br>lease payments|under<br>non-|
|---|---|---|---|
|||Equipment|Equipment|
|||2021|2020|
||||(restated)|
|||F000|6'000|
|Payments|due:|||
|Within one year||355|400|
|Between|1 and 5 years|746|1,072|
|||1,101|1,472|



## 



## 

## 


||||Share|||||||
|---|---|---|---|---|---|---|---|---|---|
||||capital|||||||
|||Year end|E|||Activities||||
|Haberdashers'|Elstree Schools|31 August|2|Provision|ofcoach services for pupils|||||
|Trading<br>Limited (Company||||attending|the|Haberdashers'||Asks's Schools||
|number 3073480)||||||||||
|Haberdasher's|Asks's School|31 August|2|Sale ofschool||clothing,|school sports|||
|Shop Limited|(not|||equipment,|stationery||and confectionery||at|
|consolidated)|(Company|||Haberdasher's||Asks's|School|||
|number 01601196)||||||||||





## 

## 

## 


## 



## 

## 

## 

|onciliation<br>ofopening<br>and closing balances<br>on the pr|esent value offunded obligations||
|---|---|---|
||2021|2020|
||6'000|8'000|
|Liabilities at the start of the period|15,336|15,602|
|Current service cost|101|132|
|Interest cost|258|276|
|Contributions<br>by plan participants|8|9|
|Actuarial<br>gain|828|2|
|Loss due to benefit changes|110||
|Benefits paid|(574)|(685)|
|Liability at the end ofthe period|16,067|15,336|



## 

|onciliation<br>ofopening<br>and closing balances on the fair value o|f plan assets||
|---|---|---|
||2021|2020|
||6'000|8'000|
|Fair value of plan assets at the start ofthe period|13,749|13,721|
|Interest income|230|242|
|Asset gain|948|289|
|Contributions<br>by the employer|171|182|
|Benefits paid|(574)|(685)|
|Fair value of plan assets at the end ofthe period|14,524|13,749|



## 

|nalysis|of plan|assets|||
|---|---|---|---|---|
||||Value of|Value of|
||||assets|assets|
||||31August|31August|
||||2021|2020|
||||f.'000|r.'000|
|Equity|(including|property)|2,644|2,316|
|Bonds|||1,022|1,372|
|Insured|pensions||10,300|9,628|
|Cash|||558|433|
|Total assets|||14,524|13,749|



## 



## 

## 

|ned benefit costs recognised<br>in the income statem|ent||
|---|---|---|
||2021|2020|
||E'000|8'000|
|Current service cost|101|132|
|Net interest cost|28|34|
|Total pension expense|129|166|



## 

|ned benefits costs included<br>in other rec|ognised<br>gains|||
|---|---|---|---|
|||2021|2020|
|||E'000|8'000|
|Actuarial<br>gain on plan assets||948|289|
|Actuarial<br>gain on defined<br>benefit obligation||||
|of which due to experience||180|21|
|of which due to financial assumptions||(1,008)|(23)|
|Effects of benefit changes||(110)||
|Total gain included<br>in other recognised|gains|10|287|



## 

||||||2021|2020|
|---|---|---|---|---|---|---|
||||||%per|%per|
||||||annum|annum|
|Discount|rate||||1.7|1.7|
|Inflation (RPI)|||||3.6|3.3|
|Inflation (CPI)|||||2.8|2.5|
|Salary growth|||||3.1|2.8|
|Allowance|for revaluation||of deferred|pensions|||
|subject|to CPI max 5%||||2.8|2.5|
|subject|to CPI max 2,5%||||2.5|2.5|
|Allowance|for pensions|in|payment||||
|subject|to RPI max 5%||||3.4|3.1|
|subject|to RPI max 2.5%||||2,2|2.1|



|ummarised<br>belo|ummarised<br>belo|w:||||
|---|---|---|---|---|---|
|Life expectancy||at age|65 years|2021|2020|
|Retiring|today||Male|22.6|21.6|
||||Female|25.2|23.6|
|Retiring|in 20 years||Male|24.8|23.3|
||||Female|27.5|25.4|





## 

## 

## 

## 



## 

## 

## 

||||Unrestricted|Funds|||||
|---|---|---|---|---|---|---|---|---|
|||||||||Total|
|||||Asks's|Asks's|Restricted|Endowment||
||||Schools<br>E'000|Income<br>E'000|Designated<br>E'000|Funds<br>E'000|Funds<br>E'000|(reatated)<br>F'000|
|Income and endowments||from:|||||||
|Donations|||14|||36||50|
|Charitable<br>activities:|||||||||
|School fees|||44,502|||||44,502|
|Other educational|income||1,672|||131||1,803|
|Ancillary<br>trading|income||129|||||136|
|Other trading<br>activities:|||||||||
|Trading<br>income|||1,975|||||1,975|
|Other income:|||||||||
|Coronavirus<br>job retention||scheme||||543||543|
|Investments:|||||||||
|Investment<br>income|||149||42|||234|
||||48,441|7|42|715|30|49,243|
|Expenditure<br>on:|||||||||
|Raising funds:|||||||||
|Loan interest|||154|||||154|
|Fees in advance|discount||163|||||163|
|Investment<br>management|||7|||||7|
|Trading cost of subsidiaries|||2,248|||||2,248|
|Charitable<br>activities:|||||||||
|Schools|||41,952|846||822|2,036|45,656|
|FRS102 pension|scheme||||||||
|net interest cost|||34|||||34|
||||44,558|846||822|2,036|48,262|
|Net gains on investments|||53||||834|887|
|Net income/(expenditure)|||3,936|(839)|42|(107)|(1,164)|1,868|
|Transfers<br>between<br>funds|||(4,715)|808||(189)|4,096||
|Other recognised|losses:||||||||
|Actuarial<br>gains on|defined||||||||
|benefit scheme|||287|||||287|
|Net movement<br>in|funds||(492)|(31)|42|(296)|2,932|2,155|
|Reconciliation<br>of|Funds:||||||||
|Total funds<br>brought|forward||(896)|78||575|100,908|100,665|
|Total funds carried forward|||71,3887|47|42|278|103,84Q|102,82Q|





## 

## 

## 

|(a) Fund Move|ments||||||||
|---|---|---|---|---|---|---|---|---|
||||Balance|||Other||Balance|
||||18ptsmber|Income|Expenditure|recognised|Net|31August|
||||2019|(restated)|(restated)|gain/loss|transfers|2020|
||||f'000|f'000|f'000|f'000|f'000|f'000|
|General funds —Charity:|||||||||
|Schools general<br>fund|||||||||
|excluding<br>building|fund|and|||||||
|pension<br>reserve|||984|46,639|(42,135)|53|(5,343)|198|
|Building<br>fund|||||||||
|Pension reserve|||(1,881)||(175)|287|182|(1,587)|
|Aske Income Fund|||(897)<br>78|46,639<br>49|(42,310)<br>(846)|340|(5,161)<br>808|(1,389)<br>89|
|Total unrestricted|funds—||||||||
|Charity|||(819)|46,688|(43,156)|340|(4,353)|(1,300)|
|Non-charitable<br>trading||funds|1|1,802|(2,248)||446|1|
|Total unrestricted|funds—||||||||
|Group|||(818)|48,490|(45,404)|340|(3,907)|(1,299)|
|Restricted funds|||||||||
|Schools restricted|funds||419|710|(819)||(200)|120|
|Simon Stuart Scholarship|||2|||||2|
|Bursaries Appeal|Fund||144||(3)||11|157|
|Total restricted funds|||575|715|(822)|-|(189)|279|
|Endowment<br>funds|||||||||
|Dr Margaret<br>Bent|endowment||5|||||5|
|Simon Stuart endowment|||74|2||3|(2)|77|
|Bursaries Appeal <br>Asks's permanent|endowment||1,520|36||56|(36)|1,576|
|endowment|||99,309||(2,036)|775|4 134|102 182|
|Total endowment|funds||100,908|38|(2,036)|834|4,096|103,840|
|Total Funds|||100,665|49,243|(48,262)|1,174||102,820|





## 

## 

|(b) Fund|Transfers|||Non-charitable|||Permanent|
|---|---|---|---|---|---|---|---|
|||||Trading|Charitable||endow-|
|||||funds|Unrestricted|Restricted|ment|
|||||8'000|funds|funds|funds|
||||||6'000|8'000|8'000|
|New & replacement||school|buildings||(5,585)|(322)|5,907|
|Unapplied|total return for application||||930||(930)|
|Transfers|to school|bursary|funds||(100)|100||
|Loan repayments|||||843||(843)|
|Transfer|for fixed assets||||5|(5)||
|Transfer|of Pool investment||income|||38|(38)|
|Coach services paid||by schools||6|(446)|||
||||||(4,353)|(199)|4,996|



## 

|||||||Permanent||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|endowment|Total|
|||||funds|funds|funds|Funds|
|||||6'000|6'000|6'000|8'000|
|Tangible fixed||assets||6,271||75,249|81,520|
|Haberdashers'||Charities|Investment|||||
|Pools||||||28,634|28,634|
|Investment|Cash|||6,069|||6,069|
|Net current|(liabilities)/assets|||(853)|279|(43)|(617)|
|Long term|liabilities|||(12,786)|||(12,786)|
|||||(1,300)|279|103,840|102,820|





## 

## 

|||Other|||
|---|---|---|---|---|
||Staff|direct|Deprec-|Total|
||Costs|costs|iation|2020|
|||(restated)||(restated)|
||E'000|E'000|E'000|E'000|
|Raising funds:|||||
|Loan interest||154||154|
|Investment<br>management||7||7|
|Fees in advance discount||163||163|
|Trading costs of subsidiary|61|2,187||2,248|
||61|2,511||2,572|
|Charitable<br>expenditure:|||||
|Teaching costs|21,487|2,052||23,539|
|School welfare|173|2,250||2,423|
|School premises costs|1,228|7,210|2,036|10,474|
|Public relations<br>and marketing||184||184|
|Grants<br>paid to Haberdashers'|||||
|Federation<br>Trust||430||430|
|Support costs|4,991|2,287|1,255|8,533|
|Governance<br>costs|11|62||73|
|FRS102 pension scheme net interest|||||
|costs||34||34|
||27,890|14,509|3,291|45,690|
|Total resources expended|27,951|17,020|3,291|48,262|