RECISTERED COMPANY NUMBER: 01007854 {England And W41e$) REGISTERED CHARITY NUMBER: 525930 Report of the Trustefs •nd Flnanti Ststements For the Year Ended 31 A8u512021 Greenbank School L4mited AAZ*SJ160¥ 17103Q022 COMPANIES HOUSE A12
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Greenb*nk School IAmited Contents of the Financial Statements for the Year Ended 31 August 2021 Report of the Tru5t¢e5..................................................................................... .............. Report of the Indew]dent Auditors to the Trustees..................................................................... Stat¢m¢nt of Financial A¢tivities................................................................. Balance Sheet as at 31 AubTrJst 2021............-................................................. Ststemeni ofcath Flows foTthe yearended 31 AU 2021............................................................ ....... Notes to the Financial Stst¢rn¢nts for the year endtd 31 August 2021 ........................................................ 15 Detailed Ststement of Financial A¢tiviti¢s for the year ended 31 Au8USt 2021.......... .. ........ .25 12 14 The following does not fonn part of the ststuiory financial staiem¢nts.' Detailed Sthtement of Financial Adiviti¢s for th¢ y¢ar enthd 31 August 2021
Greenbank School lJmlted Report of the Trustees for the Year Ended 31 August 2021 REPORT OF THE TRUSTEFS The Tt¢¢5 of Greenbank School Limited present their annual report and audited account5 for the year ended 31 AuguM 2021 and confirm that they comply WTth the requirements of the Charities Act 2011, the M¢moraThdum and Articles of A550CLation the Charities SORP (FRS 102). ORIECTIVES AND ACTIVITIES Objectives and aim$ The objective of ihe charity ts the provtsion of education to children to the age of I I, through capobl¢ and dedicated ie•¢hittg stsfY_ Withit) this obje¢tive it is the airn of the School todevelop every child to hi5ther maximum.potential and io provide excelleni pastoral ca. Th¢ Trust hl¢Ve5 th¢5¢ obJ¢¢tiv¢s in a numbeT of ways: The Sch1 continues to recruit and tElain high quality teachirhg and support staff. The School provides full and partial bursaries to pupi15 who otherwise would not be able to pay the fees. Th¢ School has ¢xtensive sports and art5 facilitie5 which are Tnade availablc to other local schools or childteft's groups. This is done on a not for profil basis with either no ¢harge. or a charg¢ to cover only y increlnental cosi e.g.. stsff opening up and working on a Saturday. The S¢hool's Senior LeadeEShip Team {'%Lf') has developed relationships with local state schools. 5UPPOrting stsff and pupils in thosc Sch[s. Sigrtifi¢ant 8ctiviti¢s The School provides continuing professional development training opportunities for all staff. The School currently PTovid¢s bur5ari¢5 to a number of children who would Otherwi not be able to attend the School. The khool fa¢ilÉtat¢d gift¢d and talented wotkshops for children ftom IN)th local and independent s¢hools. The School raised in the region of £3k for charity, the main beneficiaries being Francis House and Wilmslow Animal Sanduary. Public benefil The Trustees confirni that they have, when and where necessary to do so, paid regard to the Charity Cornmissioner's Guidance (m Public Benefii when considering and makn.ng its decisions. The SchcM)I's comTriitment to this is demonstrdted by its provision of iKwsan"es and use of the School premises, as noted alx)ve. ACHIEVEMENT AND PERFORMANCE Review of activities 8chieYements The Covid-19 pandemic continued to hav¢ a SI]ficant impact on the Schwl during the year. Whilst School fees continued to be chargedduring th¢ January and February closure period as l¢arningc4)ntinued Temotely, f¢¢s for nurs¢ry and p5¢hO01 w¢re 5ignifiwktly reduced. This loss of income wa5 partially offs¢t by the School'5 utilisation of the Government's Coronavirus Job R¢tention Scheme fJRS' for some ¢mploy¢e5. The results a¢hiev¢d in the 2021 ¢xt¢rnal examinations were outstanding, all of ¢)ur Year 6 pupi15 were offered places at their first or second choice independent senior s¢hools, including Manchester Grammor School, Man¢he5ter High School For Girls. Withington Gir15' S¢hool, Stockport Grammar Sch¢)ol and Ch¢a(U¢ Hultne School. Many pupils were left with the very difficult decision of which school to lurn d(trwn. The Trustees ftel thai il is impDrtaTbr io note thai our Year 6 children achieved <¢Sding results in extremely challenging circumstsnces, Wjlh entronce exams being thrown into uncertainly as a result of the Covid Ikdown. Our pupils had to adapl use the resilience developed through their time at the School and
Greenbank School limited Report of the Trustees for the Y¢ar Ended 31 August 2021 Review of 3ctivi¢ie5 and ehievemeTrts (Continued) apply themselves in many different examination situations" the unforeseen ¢hanges test¢d our pupils on their ski115 ond ¢harart¢r a5 well as their academic ability. Whilst external competitions in the non-academic areas of art, sport, rnusic and drdma were eurtailed due to th¢ pandemi¢, many events ¢ontinu¢d. The S¢hool cortlinu¢d ro support the Independent S¢hcM)Is' Association I'ISA") through leading its arts progiamrne in the north and Year Two's murdl took 151 place in the UK finals of the ISA art competition. Wellbeing Wednesday5 in lockdown involved JOE Wicks. family walks and bike rides. Once the S¢h(K>l reopened, both winterand summer sporrs were coveredbefore the end ofihe arademic year, including Sport5 Day. netball and roundets fixluwes. and a chaTity cross county race in Bnjntsvood Park for Year 6. Music lessons irt brags. piano. strings and woodwind ¢ODtinue¢£ both in person and online and Ihe Year Six Peter Pan production was excellent. FINANCIAL REVIEW Re5erYe5 policy Reserves are heldtoensure that the Sch( can Continue to provide the highest level ofeducation to it$pupils. Thi5 requires the sch7 to invest in the schwl premises and other tangible flxed assets which the Trustees from time to time agree io finance with bank iKsrrowings. Atthe balance sheet date these boEYowings toialled £479.761. The Tnjsiees always ensure that they hold significani cash reserves and tsryet surpluses to repay and services these loans. Th¢ S¢hool's free r¢serv¢s (c4lculat¢d unrestricted funds less tsngible [ed asset5) ar¢-£28,428. B¢for¢ long term borrowin85 not due within the next 12 rnonths free reservts stand at £370,054. Based on current bJTrowing leve15, the Trustees. policy is to hold tssh reserves equal to three months, Salary cost5 {£372.OIYI) to Tneet its future liabilities. toopernie effectively andto save for fubjre capital expendilure. Cash reserves ai ihe baltn¢e sheet date were £697.504. The Trusiees considerthe level of cash reserves held to be appropriate and Mortir these levels on an ot)goin8 basis. REVIEW OF THE PRINCIPAL FUNDING SOURCES. TRANSACTIONS AND FINANCIAL POSITION Thc Schty)l Charges fees to parents for the provision of education and uses the fees to pay the staff and to provide a quality education. The fees also support the SChl.s charitable aims in enabling it to provide bur5arics and frce rducation where appropriate. Income in the year increased ts) £2.296.640 {2020= £2.094.670) and included a donation of £12.590 from the Friends of Grecnbank. Net income iAcreased to £168.446 (2020-. £26.328), this leyel of revenue will allow continued investment in the School. The major financial commithKni is the rq)ayment of the bank loan. Atthe yearend the Sch7 has reserves of £1,342,049 (2020.. £1.173.603). The TnLStees consider that the funds available are sufficient to meet projected future liabilities. The results for the year are out in the Statement of Financial Activities on page 11.
Greenbnk School Limlted Report ol the Trustees for ihe Year Ended 31 Augus12(121 STRUCTURE, GOVERNANCE AND MANAGEMENT CoverniDg document The Charity is con¢rolled by its memorandum and articks of association and ¢onstityt¢s a limit¢d company. limited by shares as deemed by the Companies Act 2(6. Recrultment and 4ppointment of new Trustees When te¢ruitiThg a Trustee, the Tmst identifies the skills. exper7eT and key accountsbilities required for the role. Potential candidates are identified by research amongst partnts of current or past pupils. recommertdations by advisers or advertisemeni of ihe post. Onc£ the inierview process 1$ ¢ornpl¢te the successful eandidate is recommded to the Board who rathfy the appointhieni. Indurtion nd traini8 of Trwstees After appointment the Truslec has a perithl of induction spendiThg time with the Chairnian, Tr¢asur¢r and Headteaeher. Depending on the role and specialism of ihe Tnlee. they spend time on site at th¢ School with the School's SLT. coveting all aspeas of the kh1,$ operation. they may also spend time with the appropriaie professiona] advisers. Key management personnel The Trusiees consider that ihey, togetherwith the Headteacherand the SLT, comprise the Key Management Personnel. The Trustees give their time fTe¢ly and the pay and remuneration ofthe Headteacher is set by the Trustees and is kept wider annual review. Sevetal criteria are used in setting pay for all slaff.. Nare of the role and responsibilities Cornpetitor salaries in the area Th¢ sector av¢tag¢ salary for wmpatabl¢ w>$itions Trends in pay The Trnstees have delegated authority to the Heatheacher to pay higher salaries for exeeptiomal candidates wh¢re this 1$ in the interests of the Schts)l. (See note 9 to the accounts) Organis#iional strucre The business of the School is organised and njn by the Board of Tntstees and the educational aspecis are organised by the Headteacher. The Trustees operate as a Ix)ar& with medings vsually held on a monthly basis during terni time. The TnLStees identify specific skills that ihe Trtt qUireS and seeks.to app)int appropriately qualified and experienced individuals io fill the role. The day io day management of the School is delegated to the Heathea¢her.
GreeDbank S¢hool Umlted Report of the Trustees for the Ye*r Ended 31 August 2021 Tru5tee5 The Trustees who served during the ytrdr and their beneficial iMeTests in the Company's issued ordinary share capirai at th¢ beginning and end of the year were: Ordina shares of £1 exh 2021 2020 Mrs A Berezai Mr l Brynin8 Miss R Chadwick Mrs S Crossley Mrs K Challah Mr P Enstone MIA Galloway Mrs C Johnson Mrs B Skelton Mr N Somaia MrN Vernon Mrs C Youel 13 13 RL5k rnanagemen¢ The Trustees are reswnsible for over5ecin8 the risks facd by th¢ S¢hool. tktsiled ¢onsid¢ration of risk is delegated to the SchLW)I's SLT. Ri$k$ art identified and assessed and controls are estsblished throughout th¢ year. A formal review of ihe School'5 risk managcm¢nt proS¢S is und¢rtak¢n on an annual basis. Risk is managed under the headings of financial sustainability. school saftty, pupil welfare, employment. s¢hool trips and events and wmrnunity access. Th¢ rn8iD risks that the Trustee5 have identified and the plans ¢0 manage those risks are.. Reputstion. The School's MCeSS is built on its reputstion forthe education and well-b¢ing of its pupils. We manoge this risk through safeguarding policies. staff recruitment poli¢i¢s. paslotal support for both pupils and staff and achve identification and resolution of health and Safety related issues. Firtathce. Our ability to continue is reliant on pupil fees and the ability to pay bills as they fall due. This risk L5 managed by active ca5h-flow mana8em¢nL having a reputstion for academic ¢xc¢ll¢nc¢ and marketing activity. Covid-19. The risk of fijrther khool closures is managed by having thorough ¢¢)ntrol measures in pla¢¢ to minimise the risk of infection 8nd the transmission of the vints. We cimtinuc to review our processes to keep our enyirorment as Covid-safe as possible. Curriculum delivery. Academic excellence Tequires the most able teachers with state.of-Ihe_art facilities delivering the cU1culUrn to students. We manage this risk by combining: Attractive salaries with ongoing investment in our khool. A Th approach to eTwlment ihai works with 5UPPOrtiv¢ parents whose childten have an app¢tit¢ for l¢arning' and A bursary scheme that COgnISeS pupil achievement and aptitude. Through the risk managwnent proc¢ss¢s estsbli5h¢d for ihe School. the Trusttts are satisfied thai ihe major risks identified have ixen adequately rnttigated where necessary. li is recognised ihai systems can only provide reasonable but not absolute assurance that major risks have ken adequately managed.
Greenbank School Iamited Rep.ort of the Trnstee5 for the Year Ended 31 August 2021 PLANS FOR FUTURE PERIODS In the filture, the Sch1 intends to.. Further improve the facilities. As part of our corttinuing commitment to improve the facilities available io the children. a major capitsl investment project io d¢molish and rebuild th¢ T¢ception classroorn commenced in July 2021. Completion of the new facility is expected in Febnjary 2022. Maintain the quality of ihe School's remote learning provision in the event of further Coyid restrictions. Extend partTEer5hips Wlth local schwls and the local community. Broaden the range of co-curricular a£tivitie5 ftsrpupils. Continue to develop the S¢hool's IT ¢2pability for Ix)th l¢arning and schiM)l administrdtion. Continue io sw)port the Friends of Gre¢nbaDk in bringing iogeih¢r alumni and for fundraising and marketing purposes. REFERENCE AND ADMllYISTRATIVE DETAILS Registed Company rtUmr 011854 ngland and Wales) R¢gist¢ffd Charity nurnb¢r 525930 Principal and registrred otTice Greenbank School Heathbank Road Cheadle Hulm¢ Cheshire SK8 6HU Tnjsttts Mr P. EnOne (Chaimian) Miss R. Chadwick (Treasurer) Ms K Bancroft (appointed 15 November 2021) Mts A. Berczai Mr l. BryniDg Mrs K. Challah Mr5 S. Crossley Mr A. Galloway Mr5 C. Johnson Mrs B. Skelton MrN. Somaia Mr N Vernon (appoin¢¢d 14 Jun¢ 2021) C Youel (appoinied 13 September 2021) Company Secretary Miss K Chadwick Heathna5ter Mr M. Jolmson Auditors Mitten Clarke Audit LiTtiited Chanered Accountsnts and Statutory Auditor Si George's House 56 Peter Street Manchc5tcr M2 3NQ
Greenbank Schotsl L4mited Report of the Trystees for the Ye*r Ended 31 August 2021 Bankers The Royal Bank of Sc4xland plc Drumrnond House l R¢dheughs Avenu¢ Edinburgh EH12 9JN STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are also the directors of Greenbank Sch1 Limited for the purposes of company law) are responsible for preparing the Rert of the Trustees and the financial statements irt accordance with applicable law and United Kingdorn Accounting Stsndard5 Iunited Kingdom Generally Aecepied Accounting Prnctice). Company law requires the Tnte¢S to prepare financial uatements for each financial year which give a ffiie and fairview of the stsie of affairs of the Charitsbl¢ Company and of the inmIng r¢sourc¢s and application of resources. which includes the in¢om¢ and ¢Xpd1tUTe. of the Charitsble Company for that period. In preparing those fina1?1 stst¢m¢nls, th¢ Tnee5 ar¢ r¢quir¢d to: • select suitsble accounting liCieS and then apply them consistently; observe the methods and principles in the Charity SORP: make Judgernents and estimates that are reasonable and pnuknt. prepare the flnancial statements on the going conccrn basis unless it 15 inapproprie to presurn¢ that thc Charitabl¢ Company will continue in busine5S. The Trustees are re5ponsibi¢ forkeeping PTop¢r acwmting rttords whi¢h diwlose with reasonabl¢ xcura¢y t any time the financial position of the Chan"tsble Company and to enable them to ensure that the financial statements comply with the Companie5 Act 2(K16. They are a150 re5poThsible for 5afeguardin8 the a$5ets of the Charitsble Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as ihe Twstees aff aware". There ts no relevant auth"t infomwtion of whith the Charithble Company's auth.tors are unawa. and The TnteeS have taken all step5 that thty Ought to have taktn to make themselves aware of any relevant audit infotTnation and ¢0 es¢ablish thai the auditots art aware of that infotnthtioR. AUDITORS The auditors, Mitten Clarke Audit Limited (fonnerly Lloyd Piggott Limited), will be protwd for re- appointment at th¢ next Twste¢5' rne¢ting.
Greenb*nk School L4mi¢ed Report of the Trystee5 for the Year Emded 31 August 2021 ON BEHALF THE BOARD: n5tone irrnan
Greenbank School Llmited Report of the Independent Auditors to the Trnsttts of Greenbattk School Llmited REPORT OF THE INDEPENDENT AUDrfoRS TO THE TRUSTEES Opinion We have audited the financial ststements of Greenbank School Limited (the'tharitsble Company") for the year ended 31 Augusi 2021. which comprise the Statement of Finartcial Activilies, the Balance Sheei. the Ststement of Cashflows and notes to the financial ststements. including a summary of significant accounting policies. The financial Teponing framework that has been applied in their preparaiion is applicable law and United Kingdom Accounting Standards (United Kingdom Getteolly Accepted ACrUntIng Practice). including Financial Reporting Stsndard 102. 'Yhe Financial Re}rtIng Stsndard applicable in the UK and Republi¢ of Ireland" In our opinion the financial swements: give a ttue and fair view of the stste of the Charitsble Company's affaits as ai 31 August 2021 and of its incoming resources and application of Tes(yJrtes. in¢luth"ng its income and expendilure, for the yearthen have beeTL properly prepared in accordance with unit Kingdom Generally Accepied Accounhng Prdctice, including Financial RqM>rting Standard 101 The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland" and hov¢ Eg¢n pr¢par¢d in awordanc¢ with the r¢quirements of the Compani¢s Act 21X)6. B#sis of opinit We conducted our audit in accordartce wilh International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards ar¢ further described in the Auditors, responsibilities for the auth"t of the financial statements se¢tion of our report. We are independent of the Charitabl¢ Company in aCcOance wtththe ethical requirements that are relevanttoouraudit of the financial stat¢m¢nts in th¢ UK, including the FRCS Ethical Standar4 and we hav¢ fulfilled our other ¢thical re5ponsibiliti¢5 in accordance with these requirements. We believe that the audit evidenc* we have obtained LS SUtTicient and appropriate to provide a FAsi5 for our opinio Conclusions rel•¢ing to going con<ern In auditing the financial statements. we have COTLcluded that the trustees, use of the going concern basi5 of ac¢ountLrt8 in the prepardtton of the financial ststemertts is appropTiate. Based on the work we hawe perfomie4 we have identified any material uttcertainlies relating io events or condi¢ions that. individually or collectively. may casi 5ignifi¢ant doubt on the Charithble Company's ability to continue as a 80ing concern for a penod of * leam twelve months from when ihe fina181 statements are auihorised for issue. Uur responsibilities and the resportsibilities of the trustees with respec¢to going concem are described in the relevant sections of ihis repo Other inform•tion The trwtees are responsible for the other information. The other infonnation cornprises the information included in the Arlnual Repoo other than the financial starements and our Report of the Independent Auditors theieon. Our opinion on the financial statements does not cover the other infomation and, exeept to the extent oth¢rwise ¢xpli¢itly stated in our repor¢ we do not express any fonn of assurdnce conclu5lQTh thereon.
Greenbank School Limlted Report of the Independent Audltors to the Trllslees of Greenbnk School Limited In ¢onnection with our audit of the fiTwicial Statemenrs, our Tesponsibility is to read the other infomkation an(L in doing so, consider whdher the other infom)ation is materially inconsistent with thc financial stat¢ments or our knowledge obtained in the auth"t or oihenvise appears to be materially misstated. If we identify such material inconsistencies or appareni material misstatements, we are required io detemiine whether this Elves rise to a material misststement in lh¢ financial stst¢ments themselves. If. based on the work we have perfornied. we conclude that there is a material mi55taternent olthis other infomiation. we are required to rep)rt that facL We have nothing to report in this regard. M•tlers on whi¢h we re required to report by exception We have nothing io repon in respea of ihe following matters where th¢ Charitie5 (Accounts and Reports) Regulations 2008 require us to report to you if. in (AW opinion- the infomiation given in the Report of ihe TTUSt¢¢s is in¢onsist¢nt in any material respect with the financial stat¢m¢nts- or the Charitsble Company ha5 not kcpt adequate a¢counting re¢ords' or the finan¢ial ststements are nol in agreement with the accounting rec4)rds and returns" or we have not received all the infomiion and explanations we require for our audit. Responsibilities Trf Trustees As explainedmore fvlly in the Statement ofTnLStees' Re5pon5ibilities, the trnstees (whoare also the direcrors of the Charitable Company for the purtM)ses of compatty law) a tesponsible for the preparation of th¢ rinaD¢ial stal¢m¢Ats and for being satisfied that they 8Lve a true and fair view. artd for such intemal control as the trustees determine is necessary to enable the prepantion of finan¢ial stst¢m¢nts that ar¢ fr¢¢ frorn material misstattmcnt. whether due to frdud or error. In preparing the financial statements. the twste¢s are responsible for assessing the Charitable Company's ability to continue as a going conc¢m, diKlosing, as applicable. matters related to 80ing concern and using the going con¢ern basis of a¢unting unless the trustee5 either intend to liquidat¢ the Charitable Company or to cease operations, orhave no realistic alternative but to do so. Our responstbilities for the audit of the financil stAtements We have been appointed as auditor5 under Section 144 of the Charities Aci 2011 and report in accordanc¢ with the Act and relevant regulations made or having effect thereunder. Our objective5 are to obtain ftasonable assurance alxsut whether ihe financial statements a5 a whol¢ are fr¢e from material misstatemenL whether due to frdud orerror. andto issue a Report of the Ind¢pend¢nt Auditt)r5 that includtt our opinion. Reasonable assurance is a high level of assurance, but 15 not a guardntee that an audit conducted in accordance with ISA$ (UK) will always deteci a Merial rnisstat¢m¢nt wh¢n Et exists. Mi4staternent5 can arise from fraud or error and are considered mafrrial if, individually or in the aggregate. they could reasonably be excted w influence the gconornic decisions of US¢T5 tak¢n on th¢ ba515 of these financial statements. The extent to which ourproceduTes are capable of det¢¢ting irregularities. in¢luding fraud is detailed below.. In prepardtion for our audit we identified areas of laws and regulations which we considered could have a Material effect on the financia] statrments. This infomution wos obtained via di%u5sion5 Wlth management and frorn our generdl commercial and secior experience. The directors also provide us with written representation of all the key and fijndamentsl industy sFrfifi¢ laws and r¢gu]ations with they are required to adhere to. These were then communicated to the whole of the audit team at ouraudit planning meeting. As a Charitable CompaAy, non-compliance with the Charities Ac¢ 2011. compani A¢t 2006 and the conditions of government and non-governmen¢ grant fiJnth"ng. in particular those linked to the ¢ovid-19 pandemic W¢T¢ ass¢ssed to rnost relevant. Our audii Procedur to respond w these risks included..
Greenb4nk Sthofjl Umlied Report of the Independent Alldfitorl to the Tryslees of GreeMbAnk School Limtted Enquiri¢8 with maThagemeni" Inspection of Te8ulatory records. inspeclion rrport5. 5uI)mi&sions and other COTresTL)ndencc.' Challengingof mana8ement assumptions and jud8ern¢uts in relation to aceouutiThg estimates. Review tsfjounJa15 eTlt¢red throughIN the year. SubstarttiV¢ transaGtion ic5tin8. Despife appropriate planning andperfonntng ourwoEk in a¢cord8rKc with IThternational Auditing Standards. there ar¢ alway5 inhercnt limitations that non-complian¢¢ 15 noi dEteded. Non-compliance with law8 and regulations is oft¢n further r¢moved from the events and transactions reflected in the financial statements 8nd rnaterial mÈsstalements du¢ to frJud can E¢ 4klibcrattly coThccaltd from auditor5, for ¢x8mple through mi5represent4tion. forgery or¢ollusion. A"furtheithscriptionofourre5ponsibibties fortheauditofth¢ finmcial sthteJTthts is locAted ortthe Financial Reporting Cwncil's website at www.fr¢.org.uklauditorryioTrsibilities. This ¢k5uiption fornis part of otsr Rq)ort of the Indep¢nd¢nt Audit¢MS. Use of our report This report is made solely to the charbI¢ Compangs 8s a body. Én aecordance with Part4 of th¢ Charities (Acconts and Repotts) Regulations 2008. Our audit WO has bccn undertakcn so that we might ststeto thecharilable Cornparty's tnLSte¢s thos¢ man¢rsw¢ rquited to state to thern in an auditots, report and for Tro other purpose. To the fullesi ext¢nt perinitted by law. we do not accept or assume iespDnsibility to anyone other than theCh*itable Company and th¢ Ch8ritsbl¢ Company'5 ITUStces as a body. forouraudit work. for this r¢port, or for the optntons we have fOrnd. for and on khalf of Mitt¢n Clark¢ Audit Limittd statory Auditor Eligible to a¢t as aA 8udiioT in tern of Seditsn 1212 of the Companies Ad 2006 St Geor8e's House 56 P¢i¢r Street Manchester M2 3NQ 7 Febfuary.2022 io
Greenbank School Limited Statement of FIDn¢1 A¢t6vlties fincluding income nd expenditsre ¢cownt) for the Y¢#r Ended 31 August 2021 STATEMENT OF FINANCIAL ACllVITIES Unres¢ri¢ted fthnd$ 2021 2020 INCOIKE FROM: RlsSng funds Donations and legactes Other tr4th.ng activities Investments 15.590 5.965 74 12,554 6,030 822 Charitable ttivi¢ie$ Educatson of 5cholar5 Nursery grant Job Retention Scheme 1.975.448 194,898 104,665 2296.640 1,740,406 184,987 149,871 2,094,670. Total EXPENDtruRE ON: Raising fvnds Charitable activities 1.097 1127,IY)7 2,128,194 957 2,067,385 2,(8,342 Total Nyf INCOME AND NET MOVEMENT IN FUNDS FOR THE YEAR 26J28 RECONCILIATION OF FUNDS Tot81 fund5 brought fonvrd 1.173A13 1,147375 TOTAL FUIYDS CARRIED FORWARD lJ42,049 1.173.6113 Th¢ no1¢5 tonn part of th¢5¢ finan¢ial statements
Creenb•nk School Limited Balanee Sheet *$ at 31 Auyst 2021 BALANCE SHEET AS AT 31 AUGusf 2021 2021 2020 FIXED ASSETS Tangibl¢ fixed as5¢ts 1.370.464 1.327.747 CURRENT ASSETS Siock DebtOf5 Cash ai bank 12 13 8.049 76.582 697.504 11.014 73,979 517,751 782,135 602.744 CURRENT LIABILITIES Creditors". amounts thie withTn one year 14 {412.068} 370,067 (337,682) 265,062 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILfTIES 1.740.531 1,592.809 CREDrroRS Crediiors". amounis falling due aft¢r more than one year 15 (398.482) (419,206) NET ASSETS lJ42,fy19 1,173,603 FUNDS UTrre5tricted [ndS Share pital Generdl fiLnd8 18 19 13 1.342.036 13 1,173,590 Restrleted funds lJ42.049 1,173.603 The ne5 form part of these fmancial Statents. 12
Greenbank School Limlted Balance Sheet ¥$ at 31 Augyst 2021 The Charitablt Company i5 entitled to exemption from audit under Sedion 477 of Comparties Act 2006 for the year ended 31 August 2021. The Memr5 have not deposited notkc4 tASuat to Section 476 of the Cornpanies Aci 2006 requiring an audit of these financial statements. The TnLStees aeknowledge their re5pon$ibility for. (a) ensuring that the Charitsble Company keeps aCuting ttcords ihat comply with Section 386 and 387 0!th¢ Companies Act 2006" and (b) preparing finan¢kal statements which givea iwe and fairvi¢w of the state of affair5 ofthe Charitable Company as u the end of each financial year and of its surplus or deficit for each financial year in accordance with the Tequirements of Section 394 and 395 and whl'ch otherwise comply with the requiremenis of any Companies Act 2006 lating to fJnan¢ial stsiements, so faras applicable to the Charitable Company. Th¢s¢ financial statem¢nts have tvn audited underthe requirements of Section 144 of the ClritIeS Act 2011. The flnancial ststcrnents have been ptepar&J in a¢¢ordanc£ with the spxial provisions of Part 15 ofth¢ Companies Act 2006 relating io small chaTitsble companies. Tbe fiDan¢ial strt were signgj o s were approved by the BO3 of TrStS on .......... ....... ............................. half by: Mr nMone irnlan 13
Greenbank School lllmit¢d Notes to the Flnanelal Statements foT th¢ Yur Ended 31 August 2021 sTATEMEr OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2021 2021 20211 Cash g¢nerat¢d by op¢rating a£tiviti¢s (5tt below) 423088 110,600 Cash flows from investing #tlivities: Interest income Purchase of tsngible fixed assets Cash (used in) invutiTrg ¥¢tiTriti 74 (184,133) 822 (51.059) (184,059) ($0,237) C85h flows from financing activities Bounce Back loan receipt Repayrnent of loans Cash (used in) financing adivities s0,10 (52,559) (60.076) (60.1176) {2J59) Incrtase in cash and cash equivalents during the yeaT Cash and cash equivalents at the Etginnin8 of thc year 179,753 517.751 57.804 459.947 Csh 4nd c•$h ¢41¥41tt$ #t the eDd of the year 697304 517.751 ReeLliatiOn of net movtmeni in funds to net ash tlow from operaiing xtivities.. 2021 21120 Net rnovernent in funds Add back depreciation charge Deduct interest income shown in investing attivities D¢¢r¢ase in stocks Increase in dcbtors In¢r¢asel (de¢rew) in cteditors 168.446 141,416 (74) 2,965 (2,603) I l3.738 26.328 147,928 (822) 5,887 (17,930) (50.791) Cash g¢nert¢d by op¢r•ting *ctiviti 423088 110.600 14
Greenbank School L4mited Notes to the Flnanefj Si•ternen¢s for the Year Ended 31 August 2021 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 l. Cornpny informtion Gr¢enbank School Litnited 15 a company limited by share5, incorporated in England & Waies. Details of the Comparty's principal operdtions and registered office address can be found in the TNsrees' Report. 2. A¢¢ounting polieies Th¢ principal aUntIng poli¢ies adoptrf judgements and key sources of estimation ID the pr¢paration of the financial stsiement are as follows.. a) Bsi$ of preparation The flnancial ststements have becn prrpared irt aCcordae with Accounting and Rewn8 by Chart¢ies'. Sratement of Recommended Practice applicable io charities preparing iheir accounts in accordance wilh the Finan¢ial Reporting Stsndard applicable in ihe UK and Republic of Ireland IFRS 102) (effective I January 2015)- Charits"es SORP (FRS 102). the Financial Reponing Standard applicable tn the UK and Republi¢ of Ireland (FRS 102) and the Companies Au 2006. Greenbank School Limited meets the d¢finition of a public benefit entity under FRS 102. Assets and lia'l1tie5 are initially reCOlSed at historioal cost or transaction value unless otherwise stated in the relevant accountin8 policy notes. b) Preparation of the ecounts on a going eoneern bsi$ The accounts have been prepared on the going concern btsis. In the Trustees. opinion there are no material uncertainttes that affect the eharity's ability to operdte on the going co1M basis for the foreseeable future e) Ineome Income is reeognised in the Stsiernent of Financial ActivitiesfSOFA") when the charity entitlement io the filnds. any perfonnance conditions attached to the item{s) of income have been met. it is probable, Ihai the income will be received. and the amount can n*suTed Teliably. In¢om¢ forthe education of scholars is ffcognised on an ac¢wals basis as the education is provided. Any amounts due and not paid at the year-end are included in dthors. Any amolthts rweived in advan¢¢ are deferred until th¢ Criteria for income recognition a met_ Jnwme from kBxi¢s is r¢cognwd * th¢ earlier of the date on which either.. the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the eXeilr(s) to th¢ Twst that a distribution will be mad< or when a distribution is rec¢iv¢d from the est&t¢. Receipt of a legacy, in wknl¢ or in part, 15 only considered probable when the amount Can be measured reliably and when the charity has been notified of the executor's intention to make a distribution. Income from government and er grants is Tecognised when the charity has entitlement to the funds, any perfornian¢e ¢onth"iions have en met and the amount can be reliably measured and is not deferred. Donations are ac¢ounted lor when they ar¢ received Gift Aid is included based on amounts recov¢Ted or recoverable at the accounting date. Rentsl income from hire of the hall is recolS¢dOn art xcnJa]s basis. Witt the hall is let out. IS
Creenbank School LAmlted Notes ¢0 the Finallel Statements for the Year Ended 31 August 2021 Investment income represenis bank inierest and is included in the SOFA when the amount 15 re¢eivable and the amount can be measured Teliably by the charity. This 15 nornially upon notsfication of the interest paid or payable by the bank. d) Donated $¢rvi£¢s and fa¢ilities Donated profcssional service5 and th)nated facilities are recognised as irtcome when the Charity Iw control over the it¢m, any conditions as50¢iated with the donated item have been met, the receipt of economi¢ beneflt from the use by the charity of the item is probable and the ttonomic benefit can be measured reliably. In accordance with the Charities SOIiP (FRS 102), the general volunteer tim¢ of Trustee5 is not recognise e) Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is PTobabl¢ that settlement will b¢ r¢quir¢d and the amount of the obligation can be measured reliably. Expenditure is classified undcr heading5 that aggrewe all costs reled w the category. Wher¢ costs cannot be directly attributed to a particular Legory. they are allotraied to activities on a $1$ consisteTht with the use of the re50urce5 (see note 7). Q Pen$ioTr costs The group operaies a defined contribution plan for its employ. A d¢fin¢d wnIntion plan is a pension plan under which ihe group pays fixed ¢ontTibutions into a s¢parat¢ ¢ntity- On¢¢ the contributions have been paid the group has no rther payment obligations. The contributions are recognised as an exptnse in the Statement of Financial Activities when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial p)sition. The assets of the plan are held separately from the group in inderKndently adrninistcred funds as they bec4)me payable in accordance with the rules of the scherne. g) Tngible fixed assets Individual fed assets costing £500 or more are capitalised at eost are thpreciated over their estimated usefijl lives on a straight-line basis as follows.. Freehold land Freehold propety alterntions OtTice fixtures and fittings Nil/o per arLnum 21f/•. and 7Y• p¢r annum 2(P/• per annum h) stks Stock5 are valued at the lowerof CO and net realisable value. i) Debtors Trdde and other debtots are recognised at the settlement arnount due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due. j) Creditors and provi5iDIiS Cr¥ditors and provlslorts are recognised where the charity has a pSent obligation ffsulting from a past event that will probably resuli in the transfer of funds to a third pary and the amount (kne to settle th¢ obligation be measured or estimated reliably. Creditors and provisions are rtomially Yecognised at their settlement amount after allowing for any trade th"scounts. 16
Greenbank School Limited Notesto the Financi St4tetnents for the Year Ended 31 Augwt 2021 k) Finan¢iAI Instruments The chanry has fina181 assets and financial liabilities that qualify &$ b&%ic and h¢r financial imsttumethts. Basi¢ financial in5trumeTht5 are initially recognised ai tranwtion value and subsequently measured at their settlement value, with the ex¢¢ption of bank loans which ar¢ subsequendy measured at amornised c05t using the effective interest rnethod. Finaneial assets eonsist of trnde ¥Dd oth¢r debtors and cash at bank. Financial liabilitie5 ¢onsisI of bank loans and overdrafts, creditOT5 aTKI aCcnl5. Other financial inStrUnnts are accounted for at their fair valu¢ through th¢ stst¢ment of financial a¢tiviti¢& l) Funds Restricted funds are fun(Ls which are to be used in accordance with specific restTiCttons imp05¢d by donoTS orwhich have been rdised by the Charitable Company for particular PUEpose5. Unrestricied ndS are fimds which can be used in accordance with the charitsble objectives at the diseretion ofthe Trustees. The Charitsble Company currently has no StriCted fijnds. 3. Donat10115 and legacies 2021 2021J Donations 15.590 12.554 15.590 12.554 4. Other ¢rading a¢livities 2021 21120 Hall hire 5,965 6,030 5,965 6,030 S. Inv¢stm¢nt IDcome 2021 202 UK bank int¢r¢5t re¢¢ivabl¢ 74 822 74 822 17
Greenb#nk School IAmlted Notes to tbe Financial Sta¢emeD¢s for th¢ Yr Ended 31 August 21121 6. Ineome frMI eh8ritable activities 2021 2020 Gross fees Less: total bursaries. grants and allowatKes 1,174.552 {32,173) .142.379 1.098.809 (48,525) 1.050.284 Extra-¢yrri¢ular tIvitIeS and Iw)ch servic£ Pre and after school catt Holiday club Swimming income Nursery fees 80,728 12,743 28,885 7.076 703,637 72255 13,367 20,343 7.074 577,083 1,975,448 1,740,406 Nursery grant Job Reieniion Scheme 194.898 104.665 184,987 149.871 2.275.011 2.075.264 The nursery gAnt is a government grdnt to recompertse the School for offering up 10 30 free hou of childcare per week 10 3 and 4 year olds. 18
Greenbank School Umlted Notes to the Finanetsl Statements for the Year EDded 31 August 2021 7. Expen5e$ 2•21 2020 dudiqt ExpENxtyPt: Y•f Teacng salanes Domestic saI]eS AdminiSlTation ¥T1¢S Employer's NalK>nal Insuran¢e Employer'5pcnsi contnbutions Pension scheme adfflinistrdiion costs Purchase of tnaieriajs Food and rnilk Game5 equLpffKnt Holiday club cos CIL%s visits Swlmming Heat and li8ht General rate5 Wa*rTatts Insurance Telephone Pnntin8aTrd $tatioDery Postage Advertising Repair and maiTrtcnance Cleaning Phowcopier l¢af¢ Sub5¢riPtions Sundri¢s Bank charges Audit fee5 Depreciation-owned 1.044,844 53J85 132285 54.992 2.810 6,962 I.IY49,836 56.195 139.247 1.067,361 66,084 132.876 Pettast 92.th$7 91.347 Pertenia£e 96.431 5.075 ioi. 97.118 D1ct Diteci Ditrct Ditr re threa rea P¢rc¢nta8¢ Di DiTe¢t Difrct Dirett Direct Dirt¢t Dir¢ty Dirccl PeeIage DIR Direci Dir¢¢t Dirrct Ditetl DitEct 8.612 40285 l32,861 2.122 9.459 8.612 40.285 132.861 2.122 9,459 B.134 35,772 121,496 105 6.721 451 6,525 32265 8,332 7,599 16,833 3,260 3.308 73J 21,193 16,319 63.351 6.592 35.069 6592 35.423 354 7.993 17238 J.862 3.719 1.842 19.992 38J28 73.579 7.9)3 17338 3.862 3.719 1.842 19.992 38.328 74J22 743 3.969 11.945 2.514 5.550 4.392 15.436 3.084 6.210 11.945 2.514 5.550 141,416 8.198 21.(I&) (102) 161 141.416 8.198 21.( {1021 169 14.590 12,883 2,128.194 147,928 7.178 18.135 12) Siaff ty¥iniDg CopUter<XpC5C5 Bad detrt cos¢ L¢gaJ fees Professional fe¢s Ini¢re# payable th"Tect Dirc re Dire DiT¢¢t DiT¢d 14.5 17.517 2,Wth.14? 1.097 2.032.507 94,5 1.097 1127.097 L12&194 2,1)68342 19
Creenbank School Limlted Notes to the Financial Statements for th¢ Year Ended 31 August 2021 8. Govern*fvc¢ ¢ostS 2(J21 2020 Teaching salaries Domestic salaries Adrninistration salaries Employer's National Insurdnee Employ¢r's pension contributions Audit fees Legal fees Professional fees 54.992 2,810 6,962 4,603 5.075 5.550 53,368 3,304 6.643 4.568 4,856 6.210 71 14224 14.590 94,590 93,244 9. An#lysis of staff costs Trll$tet remuneration expense5 and tht eost Of key mAnagement personnel 2021 2020 Wages and salaries Social security wsts Pension costs 1295.278 92,068 101.506 1.266.321 91,347 97.118 1.488.852 1,454.786 The Trustees w¢r¢ not paid nor received any benefits from employment with the ¢harity in th¢ year {2019.. £Nil)' neither were they reimbutsed expenses during the year (2020= £Nil). No Trustee received payment for professional or other service% supplied io the charity (2020= £Nil). The total employee benefits of the key management petsonnel of the charity were £209.29712020.. £200.631). 10. Staff numbers Th¢ averag¢ we¢kly number of staff ernploye lCulat¢d 4$ full-time ¢quival¢nts during th¢ y¢ar w&s a$ follows. 2021 41 2020 42 Dire¢t Charitable work Administrdtive 47 4¥ 20
Greenb•ttk Sehool iAmited Notes to the Financlai Statements for the Yer Ended 31 August 2021 11. Tangible fixed •$s¢ts Land nd buildings Fixt¢5 and rittings Total Cfjst As at I September 2020 Additions As at 31 August 2021 2.135.845 141,072 2,276,917 219.082 43.061 262,143 2.354.927 184,133 2,539.060 Depreciation At I September 2020 Charge for the year As at 31 August 2021 887.244 101,520 988.764 139.936 39,896 179.832 1.027.180 141,416 1,168,596 Net book value At 31 August 2021 1288.153 82.311 1.370,464 At 31 August 2020 1.248.601 79.146 1,327.747 All fixed a55ets held are used for dirECt charitsble pUT[rf5. Included within land and buildings is freehold land included at a CO of £800.000 (2020: £800,(K)O) which, in acwrdance with the a¢ntIng poli¢y noted on page 16, is not depreciated. Except under an order of the registrar. no deposition by the pmprietor of the land is to be registered withts the consent of th¢ propri¢tor of th¢ Charge in favour of the Royal Bank of Scotland PIC refefted to in the Charges Re$ter. 12. Stock 2021 2020 School materials 8,049 11.014 8,049 11.014 13. Debtors 2021 202 Trddc de0[$ Oth¢r d¢btor5 and prepayments 14,156 62.426 19,645 54,334 76,582 73,979 21
Gre¢nbank SehoDI Limited Notes to the Financial Sttements for the Year Endtd 31 August 2021 14. Creditors: amounts falling due witbin OD¢ ye•r 2021 2020 Bank loans and overdrafts (secured) Trade Creditots Other creditors Paym¢nts in advance Social (urity and othertsxcs A¢¢ruals 81,279 17.846. 51,229 101.958 25,191 134.565 120,631 6,973 54.817 82,979 22.096 50,186 412,068 337.682 Paymenis in advance.. Advanced paytnents at I September 2019 Amount re£eived in th¢ year Amount released in the year Advanced payments at 31 August 2020 82,979 101.958 101,958 Payments in advanc¢ arise wh¢re par¢nts have paid for the autumn tenn's fe¢5 duTing th¢ summer terni. IS. Creditors: amounts falling dwe ¥fter than one ye4r 2021 21120 Bank loa (secur¢d) 398,482 419.206 398.482 419,206 Included within the bank loans is £73.365 (2020.. £136.683) due after S yeats. 16. Financil instruments The charity has the following financial instnunents: 2021 2020 Financial assets that are de instruments measured at arnorti5¢d cost.. Trade debtors 14,156 19.645 Financial liabilities measwed at amortised cost: Trdde creditors A¢cnthls Bank loans and overtrdfts 17,846 49.406 479,761 6,973 50.186 539,837 561.169 616.641 The bank loans of £479.761 (2020.. £539,837} are secured by a legal ¢harge originally dattd 8 Dzcernber 1993 at debenture dated 22 July 2008 over the freehold18nd and buildings of th¢ Cornpany. The loans are repayable overa 2(kyear period from August 2008. with no principal Ixing repayable in the first two years. .22
Greenbank School Llmited Notes ¢0 the FInanci Statements for the Yer Ettded 31 August 2021 17. Taxation The activitt¢s of the chaEity are exempt from corporion kxation under section 505 of the Incorne and CorpordtiOII Taxes Act 1988 to the extent that they are applied the organisatii)n's charitable objectives. l& Called up shre epitl Allotted. issued and fully paid. Chss Nominal v•lue 2021 2020 Ordinary £1 13 13 The charity 15 incorporated as a company limited by shares and rnembEfs' liability is limited to £1 each. In cas¢ of winding up none of the accumulated fimds a distributabl¢ to the members. but shall be wven, or transferred to, some other charitable inststutson having similar objective& 19. Movement in fund$ At I S¢pt¢mb¢r 2020 Nrt movement in funds At 31 August 2021 Unrestricted funds General ftsnd sha capital 1.173,5 168.446 1.342,036 13 13 1,173,603 168.446 1.342.049 Nei movement in funds. included in the above are as follows: kncornin8 Resources expended Movement in funds Unrestricted funds Gencrdl fimd Shar¢ wi¢al 2,296.640 2.128.194 168,446 2.296.640 2,128,194 168,446 20. Reltd party trnetionS and ul¢im8te controlling pjrty Shares may only be held by Trustees. There was no uhimatc controlling party during the year wid¥r ¥1¢W or th¢ PT¢¢¢ding year. There are no relaied party transalOn$ that requitt diseloyJTt for either the current or the compardtive period. 21. Capital ¢ommitm¢nts 2021 202 Contracted not provided for in the firtancial -siatemertts 435.473 435.473 23
Greenbank School lllllll¢ed Detaljed Statement of FiDan¢i4] Acdvitie5 for the Year Ended 31 August 21121 22. Post bxl8nce sheet events After the year end a loan of £2(1.0(] was dwn down to wist with the costs of building the ttew reception classroom. 24