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||Lord Moynihan<br>(Chairman) ¹(appomted<br>December 2021)|10|*|A Mohindru<br>QC|(appointed<br>1 October 2021)|
|---|---|---|---|---|---|
||P M Alderman<br>(resigned<br>31 August 2022)<br>Mrs E Ashford||*|N G H Manna<br>R P Miners¹||
|*|Mrs J M Booth|||Mre H MOriarty|(resigned<br>31 December 2022)|
||Prof RJ Carwardine|||Councillor R G|Roden (resigned<br>5 May 2022)|
|*<br>*<br>*<br>*|MrS S ClaytOn<br>(resigned 31 December 2021)<br>Prof A Davies<br>(appointed<br>6 July 2022)<br>Councillor S P Garratt<br>(appointed<br>5 May 2022)<br>T Haden-Scott ¹<br>A LOCk (appointed<br>16February 2023)<br>Dr S Honeywill<br>(appointed<br>1 october 2021)||*<br>*<br>*<br>*<br>*|Mre R F ROSe (resigned 31 December 2022)<br>Ml'6 LA Rtlssen<br>(resigned<br>31 December 2022)<br>AW TWietarl-DaViee ¹(resigned<br>31 December 2021)<br>N AJWaters<br>Dr R AWeeks<br>I A de Weymarn||
||J A MCLaren<br>(appointed<br>16February 2023)|||Mrs R Williams||





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|Fund|||||Fund represents||Balance at<br>31 August|
|---|---|---|---|---|---|---|---|
||||||||2022|
||||||||8'000|
|Schools' Cyclical<br>Re air Fund|||||To provide for scheduled<br>major cyclical maintenance||371|
|Assisted|Places|||||||
|Reserve <br>Monmouth|and<br>School for||||To provide<br>bursaries<br>and assisted places||666|
|Girls Bursar|||Fund|||||
|Governors'<br>reserve||pension|||To enable the Governors<br>to maintain<br>regular<br>funding<br>the closed non-teachin<br>staff<br>ension scheme.|for|73|
|Prospectus<br>recruitment||and<br>reserves|||To provide for cyclical expenditure<br>on these items||192|
||||||Total Schools desi<br>nated funds||1,302|
|Schools'|general|||funds|To maintain<br>no reserve<br>in these funds, subject to<br>ade<br>uate cash flow for the schools'<br>normal o erations||(976)|
|Pension scheme||||fund|This reflects the trustees'<br>best estimate ofthe deficit on|||
||||||the pension scheme at 31 August 2022. An actuarial|||
||||||valuation<br>to meet the requirements<br>of Financial<br>Reporting|||
||||||Standard<br>102(FRS 102)was carried out by the scheme's|||
||||||actuary,<br>Quantum<br>Advisory as at 31 August 2022. This|||
||||||showed<br>that a surplus<br>of6374k compared<br>to a deficit|of||
||||||2150k at 31 August 2021. In line with the Foundation's|||
||||||accounting<br>policy and FRS 102, this surplus<br>is not|||
||||||recognized<br>in the balance sheet.|||
||||||Total Schools funds||328|
|Foundation||income|||Net income<br>is distributed<br>to the Schools Governors<br>during|||
|fund|||||the year. The fund is in deficit at year end as funds were<br>transferred<br>to the school<br>in advance for the 2022/2023||(140)|
||||||ear The deficit will be addressed<br>via a transfer|||
|Non-charitable<br>funds|||trading||Net reserves oftrading<br>subsidiaries<br>at year end||(6)|
||||||Total unrestricted<br>funds||180|



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|Year ended 31August|2|022|||||||
|---|---|---|---|---|---|---|---|---|
||||Unrestricted|Funds||Permanent|Total|Total|
|||Note|Schools<br>8'000|Foundation<br>Income<br>8'000|Restricted<br>Funds<br>8'000|endowment<br>fund<br>6'000|2022<br>6'000|2021<br>6'000|
|Income and endowments|from:||||||||
|Donations<br>and legacies|||||180||180|498|
|Charitable<br>activities:|||||||||
|School fees||3|20,311||||20,311|18,323|
|Ancillary<br>trading<br>income<br>Other income<br>—Educational|||863<br>61||||863<br>61|499<br>351|
|Other trading<br>activities:<br>Trading<br>income|||866||||866|589|
|Investments:|||||||||
|Investment<br>income||2|98||20||124|131|
|FRS102 pension<br>scheme<br>interest||2|45||||45|44|
|Other income|||443||||443|209|
||||22,687|6|200||22,893|20,644|
|Expenditure<br>on:|||||||||
|Raising funds:<br>Loan interest|||298||||298|317|
|Fees in advance<br>discount|||46||||46|65|
|Trading costs ofsubsidiaries|||783||||783|803|
|Charitable<br>activities:|||||||||
|Schools|||23,421|260|181|912|24,774|23,322|
|FRS 102 pension scheme<br>interest cost|||47||||47|50|
|||4|24,595|260|181|912|25,948|24,557|
|Net (expenditure)/income<br>before gains on investments|||(1,908)|(254)|19|(912)|(3055)|(39"3)|
|Net gains on investments||7|(252)|24|(67)|6,670|6,375|19,096|
|Net (expenditure)/income|||(2,160)|(230)|(48)|5,758|3,320|15,183|
|Transfers<br>between funds||5|1,453||(81)|(1,372)|||
|Other recognised<br>gains:|||||||||
|Actuarial<br>gains on defined<br>benefit schemes||12|86||||86|198|
|Net movement<br>in funds|||(621)|301|(129)|4,386|3,406|15,381|
|Reconciliation<br>of Funds:|||||||||
|Total funds<br>brought<br>forward|||941|90|1,175|135,698|137,904|122,523|
|Total funds carried forward||5|320|(140)|1,046|140,084|141,310|137,904|





## 

|As at 31August 20|22||||||||
|---|---|---|---|---|---|---|---|---|
||||||Group||Foundation||
|||||Note|2022|2021|2022|2021|
||||||E'000|E'000|6'000|E'000|
|FIXEDASSETS|||||||||
|Tangible assets<br>Investments||||6<br>7|42,207<br>106,163|43,222<br>102,285|42,204<br>106,163|43,214<br>102,285|
|Investment<br>in subsidiary|company|||16|||90|90|
|Unsecured<br>loan to William Jones'|||s||||||
|Almshouses<br>Charity|||||1|1|||
|Unsecured<br>loans to connected||trading|||||||
|companies||||||||62|
||||||148,371|145,508|148,458|145,652|
|Current assets:|||||||||
|Stocks|||||199|187|27|26|
|Debtors|||||1,557|1,050|1,724|1,151|
|Investments:<br>cash on deposit<br>Cash at bank and<br>in hand|||||2,980<br>3,841|4,788<br>3,808|2,980<br>3,679|4,788<br>3,623|
||||||8,577|9,833|8,410|9,588|
|Liabilities:|||||||||
|Creditors: amounts<br>falling due<br>within one year||||10|(6,276)|(5,730)|(6,190)|(5,623)|
|Net current assets|||||2,301|4,103|2,220|3,965|
|Total assets less current<br>liabilities|||||150,672|149,611|150,678|149,617|
|Creditors: amounts<br>falling due <br>than one year|||after more||(9,362)|(11,557)|(9,362)|(11,557)|
||||||141,310|138,054|141,316|138,060|
|Defined benefit pension|scheme||liability|12||(150)||(150)|
|Total net assets|||||141,310|137,904|141,316|137,910|
|The Funds ofthe Charity:<br>Permanent<br>endowment<br>fund|||||140,084|135,698|140,084|135,698|
|Restricted<br>funds|||||1,046|1,175|1,046|1,175|
|Unrestricted<br>funds:|||||||||
|Designated<br>funds<br>General<br>funds|||||1,302<br>(1,116)|1,237<br>(50)|1,302<br>(1,116)|1,237<br>(50)|
|Non-charitable<br>trading<br>Pension scheme fund|funds||||(6)|(6)<br>(150)|-|(150)|
|Total Charity Funds||||5|141,310|137,904|141,316|137,910|





## 

||||||2022|2022|2021|2021|
|---|---|---|---|---|---|---|---|---|
||||||6'000|6'000|6'000|6'000|
|Net cash used in operating|activities|||||(2,415)||(2,897)|
|Cash flows from investing|activities:||||||||
|Investment<br>income<br>received|||||124||131||
|Purchase oftangible<br>fixed assets|||||(352)||(317)||
|Proceeds from sale of investments|||||13||834||
|Purchase of investments|||||(49)||(1,367)||
|Drawn from Charities<br>Investment||Pool (Total Return)|||2,531||2,500||
|Net cash provided<br>by investing||activities||||2,267||1,781|
|Cash flows from financing|activities:||||||||
|Repayments<br>of borrowing|||||(1,627)||(891)||
|||||||(1,627)||(891)|
|Change<br>in cash and cash <br>reporting<br>period|equivalents||in the|||(1,775)||(2,007)|
|Cash and cash equivalents<br>reporting<br>period|at the|beginning||ofthe||8,596||10,603|
|Cash and cash equivalents<br>reporting<br>period|at the end ofthe|||||6,821||8,596|





## 

## 

|ASH USED IN OPER|ATING|ACTIVITI|ES||||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||E'000|E'000|
|Net movement<br>in funds (per||Statement|of Financial|Activities)|3,406|15,381|
|Adjustments<br>for:|||||||
|Gains on investments|||||(6,375)|(19,096)|
|Investment<br>income|||||(124)|(131)|
|Depreciation|||||1,367|1,407|
|Pension scheme adjustment<br>(Increase)/decrease<br>in stocks|||||(150)<br>(12)|(258)<br>45|
|Decrease<br>in creditors|and provisions||||(22)|(235)|
|Decrease<br>in debtors|||||(507)||
|Decrease<br>in cash held for investment|||||2|(10)|
|Net cash used<br>in operating||activities|||(2,415)|(2,897)|



## 

||2022|2021|
|---|---|---|
||E'000|E'000|
|Cash at bank|3,841|3,808|
|Investments|2,980|4,788|
|Total cash and cash equivalents|6,821|8,596|



## 

|||At 1||At 31|
|---|---|---|---|---|
|||September|Cash|August|
|||2021|flows|2022|
|||E'000|E'000|E'000|
|Cash|in hand|3,808|33|3,841|
|Cash <br>Loans <br>Loans|equivalents<br> falling due within one year<br> falling due after more than one year|4,788<br>(1,628)<br>(7,901)|(1,808)<br>(31)<br>1,658|2,980<br>(1,659)<br>(6,243)|
|Total||)888)|))48)|)),881)|





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## 

|2.<br>INVESTMENT INCOME||||||
|---|---|---|---|---|---|
||||Permanent|||
||Unrestricted|Restricted|Endowment|Total|Total|
||Fund|Fund|Fund|2022|2021|
||E'000|8'000|K'000|E'000|E'000|
|Interest from bank deposits<br>Income from listed investments|6<br>98|20||6<br>118|7<br>124|
||104|20||124|131|
|FRS102 pension scheme interest|45|||45|44|
||149|20||169|175|



## 

|||||2022|2021|
|---|---|---|---|---|---|
|||||E'000|E'000|
|Gross Fees||||23502|21 459|
|Less||||||
|Scholarships||||(448)|(469)|
|Bursaries||||(1,721)|(1,686)|
|Assisted|places (a bursary scheme replacing a former State-funded||scheme)|(35)|(48)|
|Staff fee|remission|||(987)|(934)|
|||||20,311|18,323|
|Numbers|of pupils benefiting|from:||||
|Scholarships||||221|227|
|Bursaries||||287|304|
|Assisted|places|||5|48|





## 

## 

||||||||Other||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Staff|direct||Total|Total|
|||||||costs|costs|Depreciation|2022|2021|
|||||||F'000|f'000|8'000|K'000|E'000|
|Raising funds:<br>Loan interest|||||||298||298|317|
|Fees in advance<br>discount|||||||46||46|65|
|Trading costs of subsidiaries||||||165|613||783|803|
|||||||165|957|5|1,127|1,185|
|Charitable<br>expenditure:<br>Teaching costs<br>School welfare||||||10,851<br>1,384|2,656<br>1,185|424<br>26|13,931<br>2,595|12,713<br>2,272|
|School premises costs<br>Support costs<br>Governance<br>costs||||||1,595<br>1,832<br>25|2,844<br>940<br>100|912|5,351<br>2,772<br>125|5,526<br>2,692<br>119|
|FRS102 pension scheme|interest||costs||||47||47|50|
|||||||15,687|7,772|1,362|24,821|23,372|
|Total resources expended||||||15,852|8,729|1,367|25,948|24,557|
||||||||||2022|2021|
||||||||||E'000|f.'000|
|Charitable<br>expenditure<br>Remuneration<br>ofSchools'|includes:<br> auditors||for audit|||services|||30|30|
|Remuneration<br>of Foundation's||auditors||for||audit services|||14|14|
|Payment<br>to the Haberdas|hers'|Company|||for service charges||||15|15|



|costs include<br>administratio<br> costs.|n<br>and gr|ounds<br>staff, establishment|costs, professional<br>fees, t|ravel and|
|---|---|---|---|---|
||||2022|2021|
||||6'000|5'000|
|Staff costs comprised:<br>Wages and salaries<br>Social security costs<br>Pension contributions|||12,397<br>1,224<br>2,120|12,152<br>1,152<br>2,039|
|Payment<br>of Haberdashers'<br>paymaster<br>arrangement|Company|staff under||110|
||||15,852|15,453|





## 

## 

|o remunera|tion<br>or reimbursed|ex|pen|ses were pai|d to the Trustees or to|any ofthe Schools' Go|vernors.|
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||'Z'000|E'000|
|Aggregate|employee-benefits|of|key|management|personnel|820|916|



|e<br>number|s<br>ofemployees<br>in the year were:|||
|---|---|---|---|
|||2022|2021|
|||No.|No.|
|Teaching<br>staff<br>Other staff||284<br>268|265<br>289|
|||552|554|



|2022|2021|
|---|---|
|No.|No.|





## 

## 

|(a)|Fund movements|||Balance<br>1|||Other<br>recognised||Balance<br>31|
|---|---|---|---|---|---|---|---|---|---|
|||||September<br>2021<br>8'000|Income<br>E'000|Expenditure<br>F'000|gains/<br>(losses)<br>E'000|Net<br>Transfers<br>E'000|August<br>2022<br>6'000|
||Designated<br>funds:<br>Schools cyclical repairs<br>Assisted places reserve<br>Prospectus<br>reserve<br>Recruitment<br>reserve<br>Pensions<br>reserve|||371<br>666<br>124<br>42<br>34||(399)<br>(4)<br>(61)||399<br>10<br>20<br>100|371<br>666<br>134<br>58<br>73|
|||||1,237||(464)||529|1,302|
||General funds—|||||||||
||Foundation:|||||||||
||Schools|||(140)|21,776|(23,301)|(252)|941|(976)|
||Foundation<br>Income|Fund||90|6|(260)|24||(140)|
||Pension scheme fund|||(150)|45|(47)|86|66||
||Total unrestricted|funds—||||||||
||Foundation|||1,037|21,827|(24,072)|(142)|1,536|186|
||Non-charitable<br>trading||funds|(6)|866|(783)||(83)|(6)|
||Total unrestricted|funds—||||||||
||Group|||1,031|22,693|(24,855)|(142)|1,453|180|
||Restricted funds|||||||||
||Schools scholarship<br>Pre-Prep<br>& Nursery<br>Girls school other<br>Blake Legacy Fund|funds<br>grant||274<br>3<br>43<br>118|49<br>6<br>65|(3)<br>(2)<br>(116)||(81)|239<br>3<br>47<br>67|
||Extraordinary<br>repair <br>Stephenson<br>awards|fund||721<br>16|20||(67)||674<br>16|
||Walker Memorial<br>Fund||||60|(60)||||
||Total restricted<br>funds|||1,175|200|(181)|(67)|(81)|1,046|
||Permanent<br>endowment|||||||||
||fund|||135,698|-|(912)|6,670|(1,372)|140,084|
||Total Funds|||137,904|22,893|(25,948)|6,461||141,310|





## 

## 

|(b)|Transfers<br>between funds|Non-<br>charitable|Charitable|||Permanent|
|---|---|---|---|---|---|---|
|||trading|unrestricted|Designated|Restricted|endowment|
|||funds|funds|funds|funds|fund|
|||000|g'000|9'000|6'000|6'000|
||Transfer from unapplied||||||
||Total Return||2,000|||(2,000)|
||Funding<br>from schools for<br>new buildings||(628)|||628|
||Additions<br>to cyclical||||||
||maintenance<br>reserves||(399)|399|||
||Recruitment<br>reserve||(20)|20|||
||Prospectus<br>reserve||(10)|10|||
||Scholarship<br>awards||81||(81)||
||Addition<br>to governors'||||||
||general reserve||(100)|100|||
||Trading companies||||||
||payment<br>under<br>gift aid|(83)|83||||
|||(83)|841|529|(81)|(1,372)|





## 

## 

|TANGIBLE FIXEDAS|SETS||||||
|---|---|---|---|---|---|---|
|Foundation<br>and<br>Group|Freehold<br>land and<br>buildings<br>E'000|Equipment<br>and<br>furnishings<br>E'000|Motor<br>vehicles<br>E'000|Charity<br>total<br>E'000|Subsidiary<br>companies<br>equipment<br>E'000|Group<br>Total<br>E'000|
|Cost|||||||
|1 September 2021<br>Additions|57,317|4,747<br>330|299<br>22|62,363<br>352|128|62,491<br>352|
|Dieposals||(30)||(30)|(12)|(42)|
|31 August<br>2022|57,317|5,047|321|62,685|116|62,801|
|Depreciation<br>1 September 2021<br>Charge for year<br>Disposals|16,198<br>912|2,673<br>436<br>(30)|278<br>14|19,149<br>1,362<br>(30)|120<br>5<br>(12)|19,269<br>1,367<br>(42)|
|31August 2022|17,110|3,079|292|20,481|113|20,594|
|Net book value|||||||
|31 August 2022|40,207|1,968|29|42,204|3|42,207|
|31 August 2021|41,119|2,074|21|43,214|8|43,222|





## 

## 

||||||||
|---|---|---|---|---|---|---|
|7.|INVESTMENTS||||||
||Foundation<br>and Group||||2022<br>F'000|2021<br>6'000|
|(a)<br>(b)<br>(c)|Listed investments<br>Haberdashers'<br>Charities<br>Investment<br>cash|Investment|Pool (Total Return)||3,375<br>102,665<br>123|3,658<br>98,526<br>101|
||||||106,163|102,285|
|(a)|Listed investments||||||
||Foundation<br>and Group|||Extraordinary<br>repair|Governors<br>Investment||
|||||fund|fund|Total|
|||||F'000|6'000|6'000|
||Market value at 1 September 2021|||757|2,901|3,658|
||Acquisitions<br>at cost<br>Reinvestment|||2<br>20|27|2<br>47|
||Disposals<br>Net loss on revaluation|||(67)|(13)<br>(252)|(13)<br>(319)|
||Market value at 31 August 2022|||712|2,663|3,375|



|(b)|Investment<br>in Haberdashers'|Charities|Investment|Pool (Total Return)|||
|---|---|---|---|---|---|---|
||Foundation<br>and Group||||2022<br>6'000|2021<br>6'000|
||Market value at 1 September <br>Withdrawals|2021|||98,526<br>(2,531)|82,247<br>(2,500)|
||Net gain on revaluation||||6,670|18,779|
||Market value at 31August|2022|||102,665|98,526|





## 

## 

## 

|endowment<br>fund.<br>N|o ne|w endowme|nt<br>gifts h|ave been received|since the bas|e date.||
|---|---|---|---|---|---|---|---|
|||||Trust|Unapplied|||
|||||for|Total|Total|Total|
|||||investment|Return|2022|2021|
|||||6'000|6'000|f'000|f.'000|
|Trust for investment|at 1|September|2021|6,314|93,044|99,358|83,279|
|Investment<br>returns:||||||||
|Realised and unrealised||investment|gains||6,670|6,670|18,779|
|Transfer to trust for application|||||(2,000)|(2,000)|(2,700)|
|Trust for investment|at|31August|2022|6,314|97,714|104,028|99,358|
|DEBTORS AND PREPAYMENTS||||||||
|||||Group||Foundation||
|||||2022|2021|2022|2021|
|||||6'000|F'000|f'000|f'000|
|Prepayments<br>Other debtors||||436<br>585|242<br>244|436<br>474|242<br>205|
|School fees||||535|564|535|564|
|Due from subsidiary|companies|||||279|140|
|||||1,557|1,050|1,724|1,151|



## 

## 

## 

||||Group||Foundation||
|---|---|---|---|---|---|---|
||||2022|2021|2022|2021|
||||f'000|f.'000|f'000|f.'000|
|Bank loans|||1,659|1,628|1,659|1,628|
|School fees in advance|and confirmation|deposits|3,096|2,678|3,096|2,678|
|Taxation<br>and social security<br>Other creditors|||293<br>1,033|276<br>873|293<br>947|276<br>766|
|Accruals<br>and deferred|income||195|275|195|275|
||||6,276|5,730|6,191|5,623|





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## 

## 

|2, this surplus<br>is not recognized<br>in the ba|lance sheet.|||
|---|---|---|---|
|Movement<br>In defldt during the year||Year ended|year ended|
|||31Augirsl 1033|31August 3011|
|||6'000|6'000|
|(Deficit) In scheme at beg nning ofyear as previously|reported|(130)|(408)|
|Movement<br>In year:||||
|1'mployer's<br>contnbvtions||66|66|
|Pension expense<br>ActusnaI (loss)/ga In||(1)<br>460|(6)<br>198|
|1 rplm/(Def let) in schema at end ofyear||374|160|
|Surplus<br>on the scheme not account of for||(374)||
|Net degned<br>benefit<br>gabgiiy m recogrf sad in the Balance Sheet|||110|
|There ls no service cost became the l«heme isfully|paid-up, l.e, no funher benefits are being accrued.|||



|Assumptions|Assumptions||As at<br>31 August|2022|As at<br>31 August 2021|
|---|---|---|---|---|---|
|Discount|rate||4.2%||1.5%|
|Inflation|||4.0%||3.7%|
|Increases <br>(statutory|to deferred<br>revaluation)|pensions<br>before retirement|3.4%||3.0%|



## 

|||||As at|As at|
|---|---|---|---|---|---|
|Life expectancy||from age 65 years||31 August 2022|31August 2021|
|Retiring|today||Male<br>Female|22.2<br>24.6|22.3<br>24.3|
|Retiring|in 20 years||Male<br>Female|23.6<br>26.3|24.1<br>26.1|





## 

## 

||||||2022|2021|
|---|---|---|---|---|---|---|
|The amounts<br>recognised<br>in the statement|offinancial||position||6'000|f.'000|
|Present value offunded<br>obligations|||||2,169|3,191|
|Fair value of plan funds|||||(2,543)|(3,041)|
|Net defined<br>benefit (asset)<br>/ liability|||||(374)|150|
|Surplus<br>on the scheme<br>not accounted<br>for|||||374||
|Net defined<br>benefit (asset)<br>/ liability as||recognised||in the Balance Sheet||150|
||||||2022|2021|
|The amounts<br>recognised<br>in the income||statement|||6'000|6'000|
|Net interest cost|||||||
|Total pension expense|||||||
||||||2022|2021|
|The amounts<br>in the statement<br>of other|recognised|||gains and losses|K'000|6'000|
|Actuarial<br>(loss) / gain on plan assets<br>Actuarial<br>gain<br>/ (loss) on defined<br>benefit obligation|||||(436)<br>896|295<br>(97)|
|Surplus<br>on the scheme not accounted||for|||(374)||
|Total gain in statement<br>ofother recognised|||gains and losses||86|198|
||||||2022|2021|
|Changes<br>in the present value ofthe defined benefit||||obligation|E'000|K'000|
|Liabilities at the start of the period|||||3,191|3,210|
|Interest cost|||||47|50|
|Actuarial<br>(gain) / loss<br>Benefits paid|||||(896)<br>(173)|97<br>(166)|
|Liabilities at the end ofthe period|||||2,169|3,191|
||||||2022|2021|
|Changes<br>in the fair value of plan assets|||||6'000|K'000|
|Fair value of plan assets at the start <br>Interest income|ofthe period||||3,041<br>45|2,802<br>44|
|Actuarial<br>(loss) / gain<br>Contributions<br>by the employer<br>Benefits paid|||||(436)<br>66<br>(173)|295<br>66<br>(166)|
|Fair value of plan assets at the end||ofthe period|||2,543|3,041|





## 

## 

|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|Analysis<br>of return on plan assets||||||E'000|6'000|
||Interest income|||||45|44|
||Actuarial<br>(loss) I gain on plan assets|||||(436)|295|
||Return on||plan assets|||(391)|339|
|Major||categories of plan assets as a percentage||oftotal assets||||
|||||Proportion|Value of|Proportion|Value of|
|||||of portfolio|assets|of portfolio|assets|
|||||31August|31August|31August|31 August|
|||||2022|2022|2021|202'I|
|||||0/|8'000|0/|8'000|
|Equity<br>Annuities||||45.2<br>17.9|1,150<br>456|59.0<br>21.8|1,794<br>662|
|Bonds||||9.9|251|10.4|316|
|Alternative||||17.7|449|3.5|105|
|Property<br>Cash||||4.6<br>4.7|117<br>120|5.3|164|
|Total||market value of assets||100.0|2,543|100.0|3,041|
|13.||ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS||||||
|||||||Permanent||
|||||Unrestricted|Restricted|Endowment|Total|
|||||Funds|Funds|Funds|Funds|
|||||I'000|k'000|E000|E'000|
|||Tangible|fixed assets|2,000||40,207|42,207|
|||Fixed asset investments||2,785|713|102,665|106,163|
|||Loan to|William Jones's Almshouse|||||
|||Charity||||1|1|
|||Net current assets||1,795|333|173|2,301|
|||Creditors|due after more than one year|(5,869)||(3,493)|(9,362)|
|||Defined|benefit pension scheme|||||
|||||711|1,046|139,553|141,310|



## 



## 

## 



## 

## 

|A summary<br>oftrading<br>resul|ts and balance|sheets for|the trading<br>sub|sidiaries<br>is|shown<br>below;||
|---|---|---|---|---|---|---|
||MSEL||HMSGEL||Bus Company||
||2022||2022|2021|2022|2021|
||6'000||6'000|E'000|6'000|K'000|
|Turnover|866|258||121||211|
|Cost ofsales|(492)|(176)||(73)|—|(446)|
|Administration<br>expenses|(291)|(78)||(28)|-|(2)|
|Operating<br>profit/(loss)|83|||20||(237)|
|Subsidy from schools||||||237|
|Interest receivable|||||||
|Transfer to the|||||||
|Foundation<br>(Deed of|(83)|||(28)|||
|Covenant)|||||||
|Retained<br>profit/(loss)|||||||
|for the year||4||(8)|||
|Share capital issued|90|90|||||
|Reserves<br>b/f|(6)|(10)||8|||
|Reserves c/f|84|84|||||
|Fixed assets|2|8|||||
|Current assets|447|379|||||
|Creditors<br>falling due|||||||
|within one year|(365)|(303)||58||(2)|
|Unsecured<br>loan||||(62)|||
|Net assets|84|84|||||





## 

## 

|YEAR ENDED 31AU|G|UST 2021||||||
|---|---|---|---|---|---|---|---|
||||Unrestricted|Funds||Permanent|Total|
|||||Foundation|Restricted|Endowment||
||||Schools<br>8'000|Income<br>8'000|Funds<br>8'000|fund<br>8'000|2021<br>E'000|
|Income and endowments|from:|||||||
|Donations|||||498||498|
|Charitable<br>activities:||||||||
|School fees|||18,323||||18,323|
|Ancilliary<br>trading<br>income|||499||||499|
|Other income —coronavirus<br>retention<br>scheme||job|351||||351|
|Other trading<br>activities:<br>Trading<br>income|||589||||589|
|Investments:||||||||
|Investment<br>income|||104||21||131|
|FRS102 pension scheme <br>Other income|interest||44<br>209||||44<br>209|
||||20,119|6|519||20,644|
|Expenditure<br>on:||||||||
|Raising funds:<br>Loan interest|||317||||317|
|Fees in advance discount|||65||||65|
|Trading costs ofsubsidiaries|||803||||803|
|Charitable<br>expenditure:<br>Schools|||21,900|248|266|908|23,322|
|FRS 102 pension scheme <br>cost||interest|50||||50|
||||23,135|248|266|908|24,557|
|Net (expenditure)/income<br>gains on investments||before|(3,016)|(242)|253|(908)|(3,913)|
|Net gains on investments|||235|8|74|18,779|19,096|
|Net (expenditure)/income|||(2,781)|(234)|327|17,871|15,183|
|Transfers<br>between<br>funds|||1,814|200|(150)|(1,864)||
|Other recognised<br>gains:||||||||
|Actuarial<br>gains on defined<br>schemes|benefit||198||||198|
|Net movement<br>in funds|||(769)|(34)|177|16,007|15,381|
|Reconciliation<br>of Funds:||||||||
|Total funds<br>brought<br>forward|||1,710|124|998|119,691|122,523|
|Total funds carried forward|||941|90|1,175|135,698|137,904|





## 

||FOR THE YE|AR ENDED 31AUG|UST 2021|||
|---|---|---|---|---|---|
|||Unrestricted<br>Fund<br>6'000|Restricted<br>Fund<br>6'000|Permanent<br>Endowment<br>Fund<br>6'000|Total<br>2021<br>6'000|
|Interest from bank deposits<br>income from listed investments<br>Distributions<br>from Haberdashers'<br>Charities<br>Investment<br>Pool (Total Return)||7<br>103|||7<br>124|
|FRS102|pension scheme interest|110<br>44|21||131<br>44|
|||154|21||175|



## 

|Raising funds:|Staffcosts<br>6'000|Other direct<br>costs<br>f'000|Depreciation<br>E'000|Total<br>2021<br>6'000|
|---|---|---|---|---|
|Loan interest|||||
|Fees in advance discount<br>Trading costs ofsubsidiaries|57|317<br>65<br>737|9|317<br>65<br>803|
|Charitable<br>expenditure:|57|1,119|9|1,185|
|Teaching costs<br>School welfare<br>School premises costs<br>Support costs<br>Governance<br>costs<br>FRS102 pension scheme interest costs|10,573<br>1,387<br>1,538<br>1,874<br>24|1,678<br>857<br>3,080<br>818<br>95<br>50|462<br>28<br>908|12,713<br>2,272<br>5,526<br>2,692<br>119<br>50|
||15,396|6,578|1,398|23,372|
|Total resources expended|15,453|7,697|1,407|24,557|





## 

## 

|(a)|Fund movements|||Balance<br>1|||Other<br>recognised||Balance<br>31|
|---|---|---|---|---|---|---|---|---|---|
|||||September|||gains/|Net|August|
|||||2020<br>5'000|Income<br>8'000|Expenditure<br>6'000|(losses)<br>E'000|Transfers<br>K'000|2021<br>6'000|
||Designated<br>funds:<br>Schools cyclical repairs|||371||(630)||630|371|
||Assisted places reserve<br>Prospectus<br>reserve<br>Recruitment<br>reserve|||666<br>114<br>22||||10<br>20|666<br>124<br>42|
||Pensions<br>reserve|||||(55)||25|34|
|||||1,237||(685)||685|1,237|
||General funds—|||||||||
||Foundation:|||||||||
||Schools<br>Foundation<br>Income|Fund||882<br>124|19,486<br>6|(21,597)<br>(248)|235<br>8|854<br>200|(140)<br>90|
||Pension scheme<br>fund|||(408)|44|(50)|198|66|(150)|
|||||598|19,536|(21,895)|441|1,120|(200)|
||Total unrestricted|funds—||||||||
||Foundation|||1,835|19,536|(22,580)|441|1,805|1,037|
||Non-charitable<br>trading||funds|(1)|589|(803)||209|(6)|
||Total unrestricted|funds—||||||||
||Group|||1,834|20,125|(23,383)|441|2,014|1,031|
||Restricted funds|||||||||
||Schools scholarship|fund||319|32|(27)||(50)|274|
||Pre-Prep<br>& Nursery|grant||3|||||3|
||Pre-Prep<br>& Nursery<br>Girls school other|bursary||33|7<br>10|(7)|||43|
||Boys Pavilion<br>Fund<br>Boys Wellness<br>Fund||||320<br>100|(202)||(100)|118|
||Covid Support<br>Fund<br>Extraordinary<br>repair <br>Stephenson<br>awards|fund||627<br>16|30<br>20|(30)|74||721<br>16|
||Total restricted funds|||998|519|(266)|74|(150)|1,175|
||Permanent<br>endowment|||||||||
||fund|||119,691||(908)|18,779|(1,864)|135,698|
||Total Funds|||122,523|20,644|(24,557)|19,294||137,904|





## 

## 

|(b)|Transfers|between|funds|funds||Non-<br>charitable|Charitable|||Permanent|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||trading|unrestricted|Designated|Restricted|endowment|
|||||||funds|funds|funds|funds|fund|
|||||||f'000|8'000|8'000|8'000|8'000|
||Transfer|from unapplied||Total|||||||
||Return||||||2,700|||(2,700)|
||Funding<br>from schools for <br>buildings||||new||(836)|||836|
||Additions|to cyclical|||||||||
||maintenance<br>reserves-||||||(630)|630|||
||Recruitment<br>reserve||||||(20)|20|||
||Wellness|reserve|||||100||(100)||
||Prospectus<br>reserve||||||(10)|10|||
||Scholarship<br>awards||||||50||(50)||
||Provision|for assisted places|||||(47)|47|||
||Assisted|places provision|||used||47|(47)|||
||Addition|to governors'||pension|||||||
||reserve||||||(25)|25|||
||Bus company<br>supplement|||||237|(237)||||
||Trading|companies|payment||||||||
||under<br>gift aid|||||(28)|28||||
|||||||209|1,120|685|(150)|(1,864)|



## 

|No new en|dowment|gifts|have been|received since t|he base date.|||
|---|---|---|---|---|---|---|---|
||||||Trust|Unapplied||
||||||for|Total|Total|
||||||investment|Return|2021|
||||||8'000|K'000|8'000|
|Trust for investment||at 1|September|2020|6,314|76,965|83,279|
|Investment|returns:|||||||
|Realised|and unrealised||investment|gains||18,779|18,779|
|Transfer to trust for application||||||(2,700)|(2,700)|
|Trust for investment||at|31August|2021|6,314|93,044|99,358|





## 

|||||Permanent||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|
|||Funds|Funds|Funds|Funds|
|||8'000|0000|K'000|E'000|
|Tangible<br>fixed assets<br>Fixed asset investments||2,103<br>3,000|759|41,119<br>98,526|43,222<br>102,285|
|Loan to William Jones's Almshouse||||||
|Charity<br>Net current assets/(liabilities)||3,484|416|1<br>203|1<br>4,103|
|Creditors<br>Defined|due after more than one year<br>benefit pension scheme|(7,406)<br>(150)||(4,151)|(11,557)<br>(150)|
|||1,031|1,175|135,698|137,904|