RECISTERED COMPANY NUMBER: 01007854 {England And W41e$) REGISTERED CHARITY NUMBER: 525930 Report of the Trustefs •nd Flnanti￿ Ststements For the Year Ended 31 A*8u512021 Greenbank School L4mited *AAZ*SJ160¥ 17103Q022 COMPANIES HOUSE A12 #190 Greenb*nk School IAmited Contents of the Financial Statements for the Year Ended 31 August 2021 Report of the Tru5t¢e5..................................................................................... .............. Report of the Indew]dent Auditors to the Trustees..................................................................... Stat¢m¢nt of Financial A¢tivities................................................................. Balance Sheet as at 31 AubTrJst 2021............-................................................. Ststemeni ofcath Flows foTthe yearended 31 AU￿ 2021............................................................ ....... Notes to the Financial Stst¢rn¢nts for the year endtd 31 August 2021 ........................................................ 15 Detailed Ststement of Financial A¢tiviti¢s for the year ended 31 Au8USt 2021.......... .. ........ .25 12 14 The following does not fonn part of the ststuiory financial staiem¢nts.' Detailed Sthtement of Financial Adiviti¢s for th¢ y¢ar enthd 31 August 2021 Greenbank School lJmlted Report of the Trustees for the Year Ended 31 August 2021 REPORT OF THE TRUSTEFS The T￿￿t¢¢5 of Greenbank School Limited present their annual report and audited account5 for the year ended 31 AuguM 2021 and confirm that they comply WTth the requirements of the Charities Act 2011, the M¢moraThdum and Articles of A550CLation the Charities SORP (FRS 102). ORIECTIVES AND ACTIVITIES Objectives and aim$ 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 Sch￿1 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 p￿5¢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 <￿¢S￿￿ding results in extremely challenging circumstsnces, Wjlh entronce exams being thrown into uncertainly as a result of the Covid I￿kdown. 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" th￿e 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 sch￿7 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 Morti￿r 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 SCh￿l.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 Sch￿7 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. Greenb*nk 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 traini￿8 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 Tn￿lee. they spend time on site at th¢ School with the School's SLT. coveting all aspeas of the kh￿1,$ 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.. Na￿re 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 struc￿re 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 Trt￿t ￿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 pro￿S¢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 M￿CeSS 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 cU￿1culUrn 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 Sch￿1 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 Registe￿d Company rtUm￿r 01￿1854 ￿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. En￿One (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 Sch￿1 Limited for the purposes of company law) are responsible for preparing the Re￿rt 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 Tn￿te¢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 in￿mIng r¢sourc¢s and application of resources. which includes the in¢om¢ and ¢Xp￿d1tUTe. of the Charitsble Company for that period. In preparing those fina￿1?1 stst¢m¢nls, th¢ Tn￿ee5 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 inappropri￿e 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 Tn￿teeS 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 ACr￿UntIng 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 aCcO￿ance 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 connal 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 Pe￿t￿tast 92.th$7 91.347 Pertenia£e 96.431 5.075 ioi. 97.118 D1￿ct Diteci Ditrct Ditr re threa rea P¢rc¢nta8¢ Di DiTe¢t Difrct Dirett Direct Dirt¢t Dir¢ty Dirccl Pe￿e￿Iage 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 Co￿pUter