REGISTERED COMPANY NUMBEIL. IIIIM17854 (Ellgiand and Waiesl REGISTERED CHAIUTY 14UMBER.. 525930 Report of the Trustees and Finallcial Statements For the Year Ended 31 August 2022 Greenbank School Limited
Greenbank School Limited Contents of the FiThanciil Stitements for the Year Ended 31 August 2022 CONTENTS R¢port ofth¢ Tru8tee8..................................................................................................................................,. Report of the Indewdellt Auditors to theTDJStees....................................................................................... Statement of Financial Activities............ .................................................................................................... I I Balance Sheet as at 31 August 2022................................................... Statement of Cash Flows for the year ended 31 August 2022...................................................................... 14 Notes to the Finan¢i81 Ststements for the year ended 31 August 2022........ 15 Detailed Statement of Financial Activiti&s for the w ended 31 Augllst 2022...........................................24 .12 The following doe8 noi forn] part of the stab]tory financial statements.. Ddail¢d ststt of Finaucial Activities for the yw end1 31 August 2022
Greenbank School Limited
Report of the Trn8tee5 for the Year Ended 31 August 2022
REPORT OF TItE TRUSTEES
The TnteeS of Greenbank School Limited pr11 their annual report and auditd a¢vnts for the year
ended 31 August 2022 and confirni that they comply with the requirements of the Charities Act 2011, th
M¢morandum and Articles of Association yrtd the Charities SORP (FRS 102).
ORJECTIVES AND ACTIVITIES
ObJ¢ctlves and •lmg
The obje¢tive of the ¢lwTity is the provision of llCtiOn to children up to dLe age of I I, tbrough capable
and dedicated teaching staff. Within this objeuiv¢ 1¢ is the of the School to develop every thildto hi8ther
TIM potential and to provide excell
Greenbank Scbool Lfimlted Report of the Trllstees for the Year Ended 31 August 2022 Review of activitles achievements (continued) The Sch(x)I's gifted and talented programme continued to flourish with many pupils taking part in Saturday W00P8 covering creativ¢ writing> art and mathemati(3 challeng. In spo¢ the School participated ID cOMtillonS organisaby the Independalt Schools, Association ("ISA") for water polo, rugby, swin]ming* cross country, netball, athletics and dance. Musi¢ lessons in bra, piano. strings And woodwind continued and productions of Joswh and tho AJnazillg Technieolour Dreameoat {Ye8r Six), Matilda (Year 5) and R¢)mw and Juliet (Yfar 4) werc cxccll¢ut. Reserves polficy Reserves areheld lo cnsurc that thc school can coutiuue to proiide thehighestlevel of sJuc&tion to its pupils. This require8 the school to invest in the school prall1 and other tangible flxed &q8ds which the Trustees from time to time agrecto fInanceryth bankknTrowings. At th¢ balall¢¢ sbe¢tdate th¢g¢borrowing8 lotalled £603,012. The Trustees always ensure that they hold significant cash In¥c9 and tsrget Suluse5 to repay alld smi¢e8 thw¢ loans. The School's free reserves (calculated as unrestricted fimds less tall1e fed assets) are-£217.866. Befo long terni borrowings not due 'IthIn the next 12 months free reserves Stand at £258.291. Based on current boffowing levels, the Trustees. policv is to hold cash rcserves equaj b) three months. salary costs (£372,0(X)) to meet its future liabilities, to operdteeffeetiiiely 8nd to SAve for capitsl expendirure. Ca8h reserves at the balanee sbeet date were £554,520. TheTrustees consider the level of cash r&8erves held to be appropriate and monitor these leve]s on an ongoing basis. REVIEW OF THE PRtNCtPAL FLThU)ING SOIRCES, TRANSAcfIoNS AJND FINANCIAL POSITION The School ¢harg48 fees to parents for th¢ Provision of ¢du¢a(i(m and uses the fees to pav the staff and lo provide a qualiry education. The fees also support the Sch(KJl's ¢haritabl¢ aims in enabling it to provide bursaries and free education where &ppropriate. Income in the yearin¢reasedto £1340,301 (2021: £2.296,640) and included adonation of £l I,(K)O from one pa1. N¢t inwmr ill¢r¢ased to £188288 (2(P 1.. £168.446), this l¢vd of r¢v¢nu¢ will allow wntinued investnent in the School. Themajorfillallcial commitmcnt is the rcpaymcntof thebamk loans. Atthe year end the School re8e of £1,530,337 (2021: £1,342,049). The Trust consider that Ihe funds available are sufficient to meet projccl¢d future liabilities. The results for the year are sd out in th¢ S¢m¢llt Df Financial A¢tiTriucs on page 11. As part of OUE continuing colnAt¢t to improve th¢ facilities available to the children, a major capital invcsknicnl project to dernolish and rdnild the reception classroorn cornrnencd tn Juty 2021. This was completed in F¢bruary 2022.
Greellbnllk School Limited Report of the Trnstees for the Year Ended 31 Augllst 2022 STRUCtURE, CORNANcE AND.NAGEMENT Governlng doeument The Charity is controlled by its m&nordndum and articles of &88ociation and constitutes a limitcd ¢oThpany? limited by shares &8 deemed bythe cOpaniC¥ Act 26. Recruitmellt appoilltrnent of new Trustees en rrUItillg a Trustee, dLe TnL8t identifies the skills. experio)ce and key accountabilities required for the role. Potential ¢8ndidAt&q are identified by research amongst parents of ¢ent or pasl pupils, recorendatiOnS by advisers OT adyertiseroent of the post. Once the illtervicw procc¥$ is complete the successful candidate is recornmenda to thc Board whu yatify the appointment. Induction aud tralnlllg of Trustees After app)intment the Tn]$tee has a pertod of inductton Spending time with the Chairnian, Treasurer and Headte2cher. Depending ott therole and specialism of the Trustee. they spend time on site atth¢ School with the School's SLT, covering all aspects of the School's operatioo they m&y atso SThd time with the appropriate profusioDal a(fviser8. Key manggement personnel Th¢ Truste¢$ consider that they, together with theHeadteacher and the SLT, comprise the Key Management Personnel. The Trustees give tbeir time freely and th¢ pay and [cuD¢ration of the Headt¢acher is set by the Trustees and is kept under )nUal r¢view. Severnl criteria are ttsed in setting pay for all staff: Nature of the role 8nd rw>n8ibiliti&s Competitor salaries in the area The sector averag¢ salary for ¢omparoble p)sitions Trends in pay The financial position of the School Th¢ TnteeS have delegated authority to tbc H¢ad¢eAcber lo pay higher saltiries for exceptional calldidate8 where this is in tbe interests of thc School (See note 9 to the Aeeounts). OrgAnisational structure The busirAess of the Sehool is organised and Djn by the BoArd of TrllSt and the edtional 48Pt5 Orgl$ed by the Hvddteacher. TheTrusiees operateas a board, with meetings u8ually h¢ld six tAWC8 pcrywduring ternl time. TheTru8tees identify specific skills thai the Trust rCqUir and seeks to app)int appropriately qualified and experienced individuals to fill the mle. The day to day man&gement of the School is delegataj to the Headteacher.
Greenbank School Llmited Report of the Trustees for the Year Ended 31 Allgust 2022 Trustees The Trustees who servd during the year alld their kneficial interests in the Company's issued ordinary share capitsl at the beginning and of th¢ year were: Ordiuarv sb4res of £1 eaeh 2022 2021 Ms K Bancroft Mrs A Berezai Mr l Br)ming NIiss R Chadwick Mrs S Crossl¢y MtE K Challah Mr P Enslon¢ Mr A Galloway Mrs C Johnson Lts B Skeltoll r N Somaia Mr N Vernon Mrs C Youel 13 13 Risk management The Trusiees are re8ponsible for overseeing the risks fa¢cd by the SchcM)l. Detailed considrtation of risk is d¢l¢gaid to the School's SLT. Risks are idelltlfi attd ass¢ss¢d and ¢onttDI8 Jre establisbed throughout the year. A fomal review of the School's risk management procw 18 uThdatakw oll an allnual basis. Risk is managed under the hea(tings of financiol sustaiDability, schiM)I safety, pupil w¢lfaT4 ¢mplo)Thent, schiM)I trips and events and community acce&s. Th¢ maiti risks that th¢ Ttee5 have Identifi alld the plans to Jnanage those risk8 are: Reputation. The School's success is built on its rq)utation for th¢ ¢dll¢ation and well-being of its pupils. We manage this risk through safeguardino policies, statTrKrui[ml polici&s, pastoral Support for both pupils alld slaff and active identification and Tesolution of heA]th and safety relat tssues. Fillance. Our ability to continue is reliant on pupil fK5 and the ability to pay bills a8 th¢y fall du¢. This risk is managed by &ctiv¢ ¢ash-flow management, hahing a reputation for acadenic ¢x¢ell¢uc¢ alld markding activity. CoTrid-19. The risk of furdLer School closures is rna28ed by having thorough (y)ntrol eaSUre8 in place ÉD minilnise thc risk of infection aJ)d the transmtssion of the Iqrus. We continue to review our processes to keep our environment as c0vid-se AS polb1¢. Curriculum d¢lkv¢ry. knadc¥nic excellellce WUiTes the most able teacbers with gtate-of-thc-art faci]ities delivering the curriculum to 8tud¢nts. We manage this risk by wmbining: Attractive salarie8 with ongoing investmeni in our School. Au approach to C0¢ll[ that wo8 with supp)rtive parents whose Children have an aPplte for learning" and A bursary scheme that recognises pupil achievement aud aptitud& Througb the risk Managnettt proe&ggey establisbcd for the School, the TTUStees are 8ati8ficd that the major risks identified have been adequately miligal¢d w,h¢r¢ nesary. It is rOgnIsed that systems c8n only provid¢ reasonable but not absolute a&wrdnce that majorrisks bav¢ b¢ &d¢quately managed.
Greenbank Schwl Limlted Report of the Trustees for the Year Ended 31 August 2022 PLANS FOR FirruRE PERIODS In the future, the School illlends to: Furth i]nprove the facilities. Extend parther8hips with I(al schools artd the local wmmuDity. Broaden the range of co-curricular activities for pupils. Continue to develop the School's tr capabijity forboth IcarnitLg aud school ad]llinistration. Contillue to Sup the Friends of Gr¢¢nbank ij) bringing together alumni and for fundraising 8nd marketing puryoses. Furth¢r dcv¢lop the School's Eco Adion Plan and work towards being net ¢&rbon zero. REFERENCE AND ADMLNISTRATIVE DETAll Registered Company numbeT 01(M)7854 (England and Wales) Registered Charity number 525930 Principal and registered office Greenballk SchooE Heathbank Road Cheadle Hu]n]e Chesbire SK8 6HU Trllstees Mr P. Enstone (Chair) (resigll 7 F¢bru8ry 2022} Mr A. GalloThay (Chair) Miss IL Chth'ick {Treasur¢r) Ms K. Bancroft {apinted 15 November 2021) Mrs A. Ber1 Mr l. Bryning Mrs K. Challah Mrs S. CrleY (Ta8igned 28 November 2022) Mrs C. Jo])nson Mrs B. Skelton (resied ?8 November 2022) Mr N. Solllaia Mr N. Vernon C. You¢1 (apwbinted 13 September 2021) Company S¢cr¢ Miss IL Chadwick HeadtnLqter Mr M. Jolll]son Auditors DJH Mitten Clarke Audit LillJit¢d Chartered.Account8nL4 and s[atOry Auditor St Georg¢'s How¢ 56 Peiff Street Man¢hester M2 3NQ
Greenbank School Limited Report of the Tru$tees for the Year Ended 31 August 2022 Bankcrs The Royal Ballk of Scodand plc Drumm0t House l Redheughs Avenue Eltinbh EH12 9JN srATEMENT OF TRUSTtES' RESPONSIBILtrIES The Trnstees (who are atso the directors of Greenbank Sthool Limitcd for thc purposes of company law) are responsible for prepaTing the Report of the Ttustett and the financial StsteMlS in accordance with applicabl¢ law pnd United Kingdom Accounting Standards (United Kingdon] Generally Accepted Accounting Practice). Company law requires the Tlustees to prepare financiAI gtatements for eaeh financial year which give a true and fair view of the state ofaffairs of the Chariiable Company 8nd of th¢ incoming resources and application of rcsources, which includcs thc incornc and expenditure: of the Charitsble Company for that tn prewing those fall¢la1 statements, the TTUSte&% are required to: S¢11 suitable a¢coullting )licA¢S and apply consist¢lldy> observe the methS and principles in the Ctwtty SORP. make judgements and estimates that are reL8onabl¢ and pn]d¢ni and PTepare th¢ financial slatan¢nt5 OTL the going ¢onceTn basis Unl it ts inapproprit4te to presume thal the Charitable CompAny will continue in bw8jllS. Thc Tru51e¢y ar¢ r¢sponsibl¢ for kccping propcraCunliDg which dlose with reasollablo accuracy at any time tbe fmancial posillon of the Charitable Company and lo enable them to ensure thAt dLe financkal ststements comply with the Companies Act 2006. The>, are also resp)nsible for safeguarding the assets of thc Charitable Cotnpany and hcn¢¢ for taking rcasonable 51eps for the prevention and detection of fraud and oth¢r irr¢gulAriti¢q. In so far a8 the Truste&8 are aware: There 18 no relovani audit infomlation of which the CbaTitsble Company's auditors are unaware" and The Trnstees have taken all steps that they ougbt tobave taken tomake themselves aware of any relevant audit information and tr> egtabtisb that th¢ auditors awar¢ of that infonuatio AUDITORS The auditors. DJH Mitten Clarke Audit Limited. will be prop)sed for re-appointment at the next TrLLStees' meeting.
Greenbank School Limited Report of the Trnstees for the Year Ended 31 August 2022 ON BKHALF OF THE BOAIID.. MrAG oway Chairn]a
Grttnballk Scbool Limited Report of the Independent Audilors to the Trnsteeg of Greenballk School Limited REPORT OF THE INDEPEI4DENT AUDITORS TO THE TRUSTEES Oplnlon We hav¢ audited the finan¢io1 slaÉement5 of GreenbaDk School Limited {the'fharitible Compally.) for th¢ year ended 31 August 2022, whi¢h ¢ompTiS¢ th¢ St&ianellT of Financial Activities, the Balance SheeL the Statement of Cashflows and nolas to the friancial statements, illcludg a 5UDunary of sigllificant accounting polici¢8. Tho fillanGial rq)oning framework that has been applied in their preparation is applicable law aud United Kingdom Accounting S¢andards (LDited Kingdom Generally Accepted Accounting Practice), including Finanoial Reporting Standard 102. 'The Finallcial Rwrting Standard applicable in the UK and Republic of Ireland" In our opinion the financial statemeuts: giv¢ a tme attd fair of the state of the Charitable Company's affairs Bs at 31 August 2022 and of its incoming resources and application of re80rceS, including its income and expenditUT¢. for the y¢ar then ended; have been properly prepar in accordance with Unitul Kingdom Generally Accepted Accounting Practice, including Financial Rewrting Stsndard 102, Financial Reporting Standard applicable in tbe UK and Republic of Ireland" and bav¢ bll prr in accordance with the requirements of the Companieq Act 2(K)6. BasAS of Dpinion We Collduthd our audit IL accoTdan(% with International Standard8 on Auditing (UK) (ISAS (UK)) and applicable l&w. Our responsibiliti¢s undcr those standards are furth deSCrid in the Audito, responsibilities for the audit of the finAncial ststetnents section of our rcport. We are independent of the Chyrttable Company arrordance with the ethicalr4uirements that ar¢r¢l¢vantto our audit of the financial statements in the UK including the FRCS Etbical Standard, and we h&ve fulfilled our other ¢thi re8poi)sibilities in aecordance with th¢s¢ requirements. We believe that the audit evidencewehave obtained is suffici¢nt and appropriaie lo provide a basis for our opiniotL Conclusions relating to goh)g coneer In auditing the financial statcmcnts, we have concluded LI ihe trustres, us¢ orth¢ going ¢on¢¢m basis of accounting in the preparation of the financial 8tat¢mLThis is appropriatc. Based on the work we have perf0rrne we ve not identifi¢d any maluial Uncertainti rclaling to events or conditions that, indiNudually or collectively. nLay casi $i1ficant doubt on the Charitable Company's ability tr) continLe L% a going concern for a period of at leASt twelv¢ n)onthB from wh¢n tb¢ fmancial statements are authorised for issue. Our responsibi]ities and tlLe rw)nsibilities of the trltstets with re8t to going cotLcern are described in the Televaut scctions of this reporL Other illforniatlon The truste&8 arc rc6w>nsible for the Oth inforniation. The other inftFrniation comprist% the infomiation included in the Annual Report, other than the fLIMac statements alld our Report of the tndep¢udcnl Auditors thereon. Our opinion on the financial statements does not cover the other iThforniation aud. cx¢ot to the cxtent otherwise explicitly statd in our repon, we do not expre&q any forni of assurance conclusion thereon.
Greenbajjk Sth(wl Limited Report of the Indepelldent Audltors to the Trnstees of Greenballk School LitDied In ¢onne¢tion with OUT audit of the fiTwicia] statements, our resnsibi]Ity is to read the other inforniation and, in doing so, consid¢r wh¢th¢r the other inforniation 18 materially irLconsistent with the financial statements or our knowledge obtained in the iudit or oth¢r¥Trise appears to matsrially mis$tatcd. If e identify such marerial inconsistenci&q or appareni maknial misstatements. we are rquired to deterniine whcthcr this gives ri$¢ to a material misstatement in the fjnanciai staternents themselves. If, based on th¢ work we have perfornied, we conclllde that there is a material ltat¢m¢t of this othcr infonnation, we are r¢quired to report that facL We hav¢ nothing to reporT in this regar Matter8 oll which we are required to report b) exception 'e have nothing to rcport in respect of the following matsers where the Clwitiw (Accounts lieports) Regulations 28 require us to report to you 1£ in our OPiDiOn: the inftirmation given in the Report of the Trustees is inrAmsistent in any matetial respect with the finatscial $tatcmctyts' or the Charktable Company hos not kept adwiaie accounting records. or the fmancial statements are not in aeemellt th¢ a¢couDting records and returns. or we have Thot Tw¢ived all the infotmation aJ]d explanations e require for our audit. Respon5ibilifie8 of Trustees As eKplaineAI tllore fidly in the Statement ofTrustee5.ResnSibil1ties, thelDJstees (who are also thed1r) of the Ch&riiable Company for thc puse8 of company law) are resp)nsible for tbe preparation of the financial statements 4md for being satisfied that they give & tr¢ and fair view. and for such intemal control as the trustees determine is ll¢ary to enable the prepardtion of financial stat¢m¢llts that ar¢ fr¢¢ from matcrial misstatetnenl, whether due to fraud or aror. In preparing the financial statements, the trustec8 &re respo[Ible for asswing the Charitablc CompaDIs 8bility to continue as a going concern, disclosing. as applitrdble, matters rdated to going concern and using thc going collc¢rn basts of accounting uulw the 1Thtees eitbu ind to liquidate the a]aTitable Company or to cSe opLThtions, or have no reA]igtic Alternative but to do 30. Our responsibilities for the audit of the financial statements We bave been awinted as auditors under Section 144 of the Charities Act 2011 And report in 8ccord8nce with the Act and relevaDt regulations made or having eftyect thereunder. Our obj¢¢liv¢3 atr to oblti trasouable auranCe aknut hether ibe financia] stateTnents as a whole free frDtn material mi88tatemenL whether due to fraud or emr. aud to issue a Rq)ort of th¢ tudcpcnd¢nt Auditors that includes our opinion. Reasonable urdThCe is a higb level of assur8nce, but is not a guarantee that 4)n audit conducted in accordancc with ISAS (UK) will always d¢tect a material misstatement when it exists. Mis8t2tements can arise from fralld or crror and are co[tsid¢r1 material i£ individually or iTh the aggregat< they could r¢asonably b¢ ¢xp¢cl¢d to influ¢n¢e th¢ e¢onmi¢ d110n9 of users tsken on the basi6 of these financial ststements. The extent to which ourprocedures are capable of dettitig irr¢gularities. including ua is deiailed b¢lDw: tn pT¢paratioll for our audit we id<tt"fied areas of law8 and regulations which we c4msidered could have a material effect Dn the financial statemcnts. Thi8 inforrnatiou was obtainsj discussions with rnanagernt and from our general commercial and sector experi¢n¢e. The directors also proilde us with written representation of all the key and fjjndarllental industy specific ]aw5 alld rwlations with Lboy are rquired lo adhere to. These were then cornmunicated lo the whole of the audit tn at our audit planning meeting. As an iTrdqnd¢nt prcpardlory school, non-compjiancc with the Independent Schoo]s InstOrate (ISD. Edu¢ation alld Skills A¢1 2008, safeguarding. The Disclosure & Barring SeThryce and the Charities Act 2011 And Companies Act 2(M)6 were ass¢s8¢d to be 0$1 1¢Yant. Our auditPToCurcs to r¢snd to these risks included..
Greenbank School Limited Report of the Independent AudAtors to the Trnstees of Greenbonk S¢bool Limited Enquiries with managemen¢ InSptiQll of regulatorv Tecords. inspection rerts. submi&sion8 aud other wrr¢8polld¢oc¢' Chall¢ngsug of management assumption8 and judgernents in relaiion to accounting estimates. Review of journals entered throughout the year. Substantive trallsa¢tion t¢sting. D¢spits appropriat¢ plalllling alldperforniillg ourworkill a(wrdaDcewith Intemational Auditing Stsndard8, there Le WayS inherent lin)itations that non-compli8nc¢ is not d¢twtrd. Non-compliancc wtth laws alld Tegulatiolls is often further removed from the evfflts and transactions refieeted in the financial statements and mat¢rial mi&¥tat¢m¢nts due to fraud can be deliberately collceal from auditors, for example through rntsrepre8entation. forgery or collusioll. A fLlltberdescriptii)n of ourrwibilities forthe audit of thefinaneial state[nets 18 Iwat¢d on tbe Fiwi¢xal Reporting Council's website at www.frc.org.uk18uditorsrwil)iliti&g. This description forn part of our R¢port of the Independent Auditors. Use of our report This report is made solely to the Charitable CompanYs trustees, as a iK)dy. iti aOrdanGe witb Part 4 oftbo Charities (A¢¢ounts and RepoTts) Regulations 2(MTr8. Our audit WO bas been undertaken so that we might 8tal¢ to the Charitabl¢ Company's tntS tbose matta8 we are Twilj to stste to them in an auditors, report and for no other puox)se. To the fiest eXt witted by law. we do not accept or allnLe responsibility lo anyone other thall the Chariiable Company alld ihe C]witable Company's tNstees as a Ix)dy. for our audit work. for thi's rryrt. or for the opiruolls we have form&J. for and on behalf of DJH Mitten CIArke Audit Limitcd SiattLtory AudiloT Eligible to act as all auditor itt t¢nll$ of SKtiory 1212 of thc Compani&s Act 2006 St Cieorge's House 56 P¢t¢r Str¢et Man¢h¢ster M2 3NQ Date.. 7th February 2023 io
Greenbank Sehool Limited Statement of Financial Artivities (including income and expendithre account) for the Year Ended 31 August 2022 STATELItENT OF FINANCIAL ACTivifiES Unrestricted funds 2022 2021 Notes INCOME FROM: Raising funds Donations and legacies Other trading activities Jnve8tment5 Busin&ss Intemiption Claim Charltable 8etivltles Education of scholars Nut8¢ry grant Job R¢t#nlion S¢h¢m¢ 12,026 11.660 244 100,0(YJ 15,590 5,965 74 2,055.757 160,614 1,975,448 194,898 104,665 2,296,640 Total 2,340,301 EXPEIYDTfuRE ON: Raising fimds Charitable &¢tivities 1.088 2,150,925 2,152,013 1,097 2,127,097 2,128,194 Total NET INCOME AND IYET MOVEMENT IN Fus FOR THE 188288 L68.446 RECOTriCILIATION OF FUNDS Total funds brought foThard lJ42,049 1,173,603 TOTAL FUTrIDS CARRIED FORWARD 1530J37 lJ42,049 Th¢ not&% forni part of these financial sthtements
Greenbank Sch(M)l Limited B*lAnee Sheet A8 at 31 August 2022 BALANCE SHEET AS AT 31 AUGLST 2022 2022 2021 Notes FIXED ASSETS Tangible fixed assets 1,748.1 1,370,464 CURRE ASSETS Stock Debtors Cash at bank 12 13 8,962 69.957 554,520 8.049 76,582 697.504 633.439 782.135 CURREP•T LIABILITIES Creditors.. amounts due within one year 14 (375,148} 258291 (412,068) 370,067 Tr4ET CUIUIENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITtF 2,006.481 1,740,531 CREDoRs Creditors.. amounts falling due after more thao one year 15 (476.IM) (398,482) NET ASSETS 1,$30J37 lJ42,049 Unr¢strfietsd funds Share capithl Geoeral fimds 18 19 l3 1.530.324 13 1,342.036 Restrleted funds I0)57 lJ42,049 The notes fomi parf of th¢8¢ fiDaDcial sta1cents. 12
Greenba1 Sthool Limited Bfftlance Sheet as at 31 August 2022 The Charitable Company is entitled to exetnption from audit un(ler Section 477 of the Comp&nies Act 2(M)6 for the year ended 31 August 2022. The memlxrs have llot dwslted llotice. pursWt to slI0n 476 of the Companies Act 2QK)6 requiring an audit of thes¢ financial $tatttn¢nts. The Trnstees acknowledge theirresponsibility for. (a) ensuring that the Charitablc Company keeps accounting records that comply with Seetion 386 and 387 of the Companies Act 2(M)6; and Ib) pr¢pariug fiuanfjial Stalw¢ts which give tru¢ aod fairNi¢w of th¢ 5tat¢ of &ff&irs of the Charitabl¢ Company as al Ib¢ end of wh finaucial ycar and of its surplus or d¢ficffit for each fin&ncial yw iu aecord2nee Trith the requir¢mellts of Section 394 and 395 and which oth¢n4i$¢ ¢omply with th¢ requirenients of any CompaniK Act 2(K16 relatillg to financial stat¢ellts, so far as appLiGabl¢ to ihe Charitable Company. Thes¢ financial statements have been audited under the r4uirements of Section 144 of the Charities Act 2011. These financial slat¢D]¢nts have beeD prepar ill acwrdyn¢e with the spla1 PTovisioll8 of Part 15 of the Compallio5 Art 2)6 r¢l&litig to Small charitable companies. The fllwicial ststements were approved by the Board of Trustees on................ .... . .. were 81 ed on ils behalf by: and MrA alloway Chainnan 13
Greenba[ School Lknted Notes to the FinanciAI Statements for the Year Ended 31 August 2022 STATEMENT OF CASH FLOWS FOR THE YEAR EIYDED 31 AUGUST 2022 2022 2021 Cash generaled by oper#ting atlivities (see below) 254,118 423,888 Cash flows from investing actfvltks: Interest income Purchase of tangible fixed a&8els Cash (used ill) investing aCt]tIeS 244 (520,597) 74 (184,133) (520J53) (184,059) Cash flows from financing ¥4ctivities Reception elass loan receipt Repaw¢tLt of loans 2(KJ,O(N) {76,749) (60,07 Cash (u8¢d In) tlnon¢lng 8¢dvltle5 123,251 (60,076) Increase (de¢r¢as¢) in cash and c&8h equivalents during the year Cagh and ¢&gh equivalents at the b¢wing of the year 179.753 517,751 (142.984) 697504 Cash and eash equfva]entS at the end of the year 554,520 697,SIM Reconciliation of net movement in fun4ts 10 net ¢08h flow from operating activities: 2022 2021 Net moyemelll ill fl8 Add back depreciatioll ch¢ DllCt inlere8t income shoThryJ ill investing activities Increase ill StocL8 Decre in debtors Inere4sel (decrease) in crditor8 188288 142,871 (244) (913) 6.625 (82,509) 168,446 141,416 (741 2,965 (2,603) 113,738 Cash generated by operating activitks 254,118 423,888 14
Greenbank School Limited Notes to the Financial Statements for the Year Ended 31 August 21122 NOTES TO THE FINANCIAL STATE1VIs FOR THE YEAR ENDED 31 AUGUST 2022 l. Company inforn)atiDn Qreenbank School Limited is a cornpany lirnittyj by share4 incorporated in Bngland & Wales. Details of the Compally'3 prinGipal and T¢gistered otTice athlress be foulld iti th¢ Trust¢¢s' R¢port. 2. A¢¢ounting pollcles The principal accounting policies adoptryl judgements and key sorn of estimatioll in the preparation of the fwancial statement ar¢ &$ follows: } Bas18 of preparation The fJnan¢ial statements bav¢ Een pward tn accordance with Antitig alld Reporting by Charities.. Statement of R01Mend Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of trel8lld (FRS 102) (effective I January 2019)- Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ir¢land (FRS 102) and th¢ Compaui¢s Aet 2(A)6. Greenb Schwl Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities arc initially rccogniscd al historical c(xst or transaction value otherw58e stated in the rel¢vant aocoullting p)licy not¢s. b) Preparatlon of the accounts on a going concern basis The accounrs have been prepar1 on the going concern basis. In the Trustees, opinion there are no material uuc¢rt&inti¢s that affccl th¢ chariry's abdity to operate on the goiryg concern basis for the foregeeable ffi]re c) Income Income is recognised in the Statement of Financial Activities {"SOFA') i&ten the charity ] entitlement to the funds, pcrformance conth"tt"ons attached to the item(s) of income have becn TUQt, it is probable Ibat th¢ income will l receivrf and the amount can mcasurcd r¢liably. lllcojne for the education of scholars is recognised on an accn]S b&sis the ethtion is provide<L Any amounts due and not paid at the yeaT•end are included in debt0. Any amounts received in advance are deferred until th¢ cril¢ria for incom¢ rxoguition are mel. lrycom¢ from legacies is recognised at the earli¢r of th¢ dat¢ ott m.hich eith¢r. the charity is aware that probate bas been granted. the estate has been finalised and notification h&5 been made by the executor(s) to the Trnst that a distribution will be made. or when a distribution is relled from the estate. Receipt of a legacyj in whole or in part, is only considered probable ,¢Th the amount call b¢ m&2sured rcliably and whcn the charity has been notified of thc cx(xutor's intcntion to Inakc a distribution. Income from govemmeJLt and other gr4mts is recognised ivhen the eharity has eThtitlemet to the funds. any performaJLce condiiions have been met and the amount can be reliably measured and is not deferred. Donations are accounted for when they are receive4L Gift Aid is included based on amounts recovered or recoverablc at th¢ accounting dat¢. Rental IUCOULC from hir¢ of tbc hall 18 r¢¢oguisrd on an acc18 basis, whrn tb¢ hall is l¢1 out. 15
Greenbank School Llmited Notes to the Finineia] St3lement$ for the Year EDded 31 August 2022 Investment income represents bank inter&8t and is included in the SOFA whol tbe amount is receivable and the amount call be measured reliably by the charity. This is nom]ally upon notifi(xtion of tbe interest paid or payable by the bank. d) Donated services and facilities Don8led professional servicas and donated facilitieg are recogtiised as iucome bett the charity bas control over the item, any conditioJ]s klssociated Trith the donated itan have been met, the receipt of econoinic benefit from the use by the charity of thc itall 18 probable and the exonomic benefit be me&sured reliably. In accordance with the ariti¢s SORP (FRS 102), the general volwiteer ti]lle of Tru8tecs is not rec4)ls¢d. e) Expendithre Expenditure is recognised once there is A legal or constructive obligatioo lo make a payment lo a third paty. it is probable that settlernellt will be required and the amount of the obligation can be measured rejiably. Exid]luTe is cl885ified utsd¢r headings that aggregat¢ all costs related io the tegOry. Where cos15 be dirwtly altribuled to a particular category. they are allocAted to a1VitieS on a b&sis con$i$¢enl with the us¢ of the resources {see note 7). fj Penslon Costs The group operates a defined contribution plan for its employees. A defined contribution plan is a nsiOn plan undcr whi¢h th¢ group pays r]X ¢ontributions into a separnle entity. Once th¢ wntributions hav¢ beell paid th¢ oup has no further paellI ob]igations. The contributions a recOlsed as An expe1 in the Stat¢t of Financial Activities when they fall due. Amounts not paid are shown in amls a liability in the stsl¢m¢nt of fancial position. The assets of th¢ plan are held geparately from the wup in independently administered fimds &q they b0m¢paYab1e in accordance with the rules of the scheme. g) Tnb]e tlxed aets Individual fixed assets ¢o$ting £500 or moTe are ¢apitalised at cost and are depreciatsj over their estimat1 usefi lives on a straigbt-lxne b&8is as follows: Freehold land FrhId property alt¢rnti¢)llS Offi¢e fiKtures and fittings 20Yo, 10 %, 7 10 and 4Y• per annum 20/0 aJJILum h) Stocks Sto¢k8 &r¢ v&lu¢d at th¢ lower of cost and ne¢ 1$able value. l) Debtors Trade and other debtors are recognised at the settlement amount &ft¢r any discount offer¢d. Prepayments are valued at tbe amount prepaid ncl of any discounts ¢Sue. j) Creditors and proS1Ol Creditors and provisi0T are recogDised where the clwity bas a presffll obligation resulting from a past e[LI that will probably reslllt in the transfer of fimds to a third paty Ènd the amount due to gettle the obligAtion can be measured or estimated r¢13ably. Cr¢dilors and provisions ar¢ nomially recOls¢d at Iheir settillent amount aft¢r allowing for any trade discounts. 16
Greenbank School Limit¢d 4otes to the FillAucial Ststemellts for the Year Ended 31 August 2022 k) Financial Instrmments The charity has finaucial a&%ets alld fiThancia] liabilities that qualify as b&sic and otber financial instnunentS. Basic fLnanoial instrL]m¢nts ar¢ initially rccoglll al transaction value alld sub8¢qu¢ntly mea3ur¢d at their settlement value. with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method Financial ass¢ts oollsist of tra(k atsd otber deknor8 and cash at baDk. Fitiancial liabilities Gonsist of bank loan8 and oVdrafts. ttrde creditors &ttd accrnals. Other fjnancial insttuments are acc4)wiled for at their fair value thmu8b.the ststement of fl]¢1&1 activitieg. l) Funds Restricted funds are funds which arc to be used in accordance with specific re8trictions imffi by donors orwbich have be¢n r8ised by the Charitsble Company foTparticularpurpose8. Unrestricted fidS are fijnds which can be used in accordance with the C]ltable objtiV&S at the discretion of the Trustees. The Charitsble Company CUentlY has no Testrictal fund&. 3. Donations and legade$ 2022 2021 Donations 12,026 15,590 12,026 15,590 4. Other trading activities 2022 2021 Hall hir¢ 11,660 5.965 11,660 5.965 5. Investment Income 2022 2021 UK bank intere£t receivable 244 74 244 74 17
Greenbank Sch1 Limited Notes to the FIne11 Stalemellts for the Year Ended 31 August 2022 6. In¢ome from ¢h4rltsbie actlvltles 2022 2021 Gross fees L¢33'. total bursBrie$, grants and allowanc 1.149,770 (53,327) 1.174.552 (32,173) 1.096,443 1.142.379 Extra-¢urri¢ular a¢tiviti¢s alld lun¢h 8¢rvi¢e Pre and after s¢hool care Holiday club Swimming income Nursery fees 106.748 l8.553 12.353 10,663 810.997 80.728 12,743 28,885 7,076 70J,637 2,055,757 1,975,448 Nursery grant Job Retention Scheme 160,614 194,898 104.665 2216,371 2,275,011 The nursery grant is a government grant to r0MpenSe the School for OffIllg up to 30 free hours of childc8re per week to 3 and 4 year olds. 18
Greenbank School Limited Notes to the Financial Statements for the Year Ended 31 August 2022 7. Expenses 2021 CbAritAbk ttsvities Expellse type: Totsl Totsl bxils Tcaching salari DOtIc 5alario4 Adminislratioll 5a]aries Enployer's Natiollal Insurdnce Employetrs pcnsTon contnbutions Pensi(n schem¢ adInistrati0r. co8lS Purchase of materials Food and tt)ilk GaTnu equiFnent Holiday club co$ts Class visits Perc£ntagr Pffr¢ntag¢ Puc¢ntagt 1,045,464 65,417 101.017 55,024 3.443 5.317 1,100,488 68.8fA) 106334 1,099,836 56,195 139.247 Perc¢ntsge 96.146 101206 91067 101.452 5.340 1thS.792 101.506 7.888 32289 150,877 598 4,972 993 10,102 36,932 1,615 10219 19588 3.574 2,562 317 24,974 38.132 70.741 6,?54 5,890 16.017 5.977 7.888 32289 150.877 598 4,9T2 993 10,102 37,305 1,615 10,219 19,588 3.514 2,562 317 24,974 38.132 71.456 6,254 5.890 16.017 5,977 63(K) 8.612 40285 132.801 2.122 9,459 DIrt Dirttt DiTttt Dirc 6.5Y2 35,423 9,094 7,993 17238 3,862 3,719 1,842 19,W2 38.328 Heat and lighi G¢n¢ral rat¢s Water Tat¢s Jnyuranc Tdephone Printing and 5tation¢ry Postage Adv¢Ttising Repair and mainleoancc Cleaning PhOt{Kler lease SubscrAPtiws Sundri&8 Bk charges Audit fccs Depreciatioo- owtt 8$s¢¢g Siaft trniLinE Co]nputer expL B8d d¢bt wst L£gal fe65 Profcssiollal feeg tnlor&%tpayabl¢ PercttttOEe DiT&t DiTt rhT*t DiT¢Qt 373 Dire£t Dirert Direct P¢rcaLMgc Dir¢¢t Direct Diwl 715 5,407 3,969 11,945 2.514 5.550 300 14IS71 6,TJ5 22,957 425 142,871 6,735 21957 425 957 17,683 141.416 8.198 21.060 (102) 169 14,590 883 2,128,194 Dircct DiJr£t P¢TW]tag¢ Dire¢t 48 17,683 1.088 2,05? 710 98215 1152,013 1.088 2,150,925 2.15I013 2,12&194 19
Greeubank School Limited Notes to the FinAllctal Statements for the Year Ended 31 August 2022 8. Governance ¢o$ts 2022 2021 Tchill8 salari Domestic salarles Administralion salaries Employer's National Insurance Employer's pension contributions Audii fees Legal fees Professional fees 55.024 3,443 5,317 54.992 2.810 6.962 4.603 5,075 5,550 5.340 62(Kl 17,683 14.590 98215 94,590 9. Analysis of staff w8ts, Trustee remuneration and expenses and the cost of key maDa¥emeDt persowiel 2022 2021 Wagcs ynd salaries Socia] security Costs Pension Gosl$ 1275,683 101205 106,792 .295,278 92.068 101,506 1,483.680 1,488,852 The TrSteeS were not paid nor reived anv l*llefits from ¢mployment with the cFL8rity in the year (2021: £Nil); neither werc they reimbur8ed expenses during the vear {?021: £Jil). No Trustee rellved payttL¢llt for prOf310aL or other 9ervices supplied to the charity (2021: £Nil}. The total employee benefits ofthe key Dwiagelljent personnel of the chaTity w¢r¢ £203,342 (2021.. £209297). 10. StAff J)umber$ The average weekly number of staff employrf tht¢d as fil-tiM¢ Cquivalellts during the year was as follows. 2022 2021 41 41 Direct charitable Work Administrative 47 47 20
Greenbank School Limited Notes to th¢ FinAnci&l Statements for the YeAr Ended 31 August 2022 11. Tangible fixed a5&ets Land and buiidiags Fixtures and fittiog$ Totsl C08t As at I Sq)temkr 2021 Additiolls 2.276,917 472,055 2,748,972 262,143 48,542 310,685 2.539.060 520,597 3,059,657 As at 31 August 2022 Depreci&tion At I September 2021 Charge for the yeaT As 8131 August 2022 988,764 105.245 1.094.039 179,832 37,626 217.458 1,168.596 142.871 1.311,467 Net book value At 3 l August 2022 1,654,933 93.227 1.748.190 At 31 August 2021 1.288,153 82.311 1,370,464 All fixed assets held ar¢ used for dir#t ¢haritabl¢ purpoM. Included within IAnd and buildings is freehold land included at a cost of £800,WO {2021.. £8{M):0(} which. in accordance with the accounting p>licy notd on page 16, 18 not depreciated. Except under order of the regisr. no dep)sition by the propLieior of the land is to be registered witbout the consent of the woprietor of the Charge in favour of the Royal Bank of Scotland PIC referred to iu the Cbarge8 Registcr. 12. Stock 2022 2021 School materials 8,962 8,lJ49 8,962 8,049 13. Debtors 2022 21)21 Trade debtors Other dcblor8 and prepaymellts 25,135 44,822 14.156 62.426 69957 76.582 21
Greenbank School L5llted F4ote8 to the FAnAncial StAtements for the YeAr Ended 31 August 2022 14. Credltor$: amounts falling due within one year 2022 2021 Bank loans Lmd overdrafts (secur) Trad¢ ¢r¢ditors Othcr Gr¢ditors Pay]nents in advance Social sewrity and other tsxes Accruals 126,868 22.651 46.796 119,025 30,657 29.151 81.279 17.846 51,229 101,958 25,191 134,565 375,148 412,068 Pa)rynents in advance.. Advall¢ed payments at I September 2021 Amount r¢¢¢ived in tbe year Arllount r¢leas in the year Advanced paym¢nts at 31 .4ugust 2022 101,958 119,025 101958 119.025 Payments in advanw arise where parents have paid for th¢ autumn temi's fees during the sutnmer terni. 15. Credltors: amounts falling due After more than one >ear 2022 2021 Bank loans (8ecuTed) 476.144 398.482 476,144 398,482 Included within thc bank loans is £100,621 (2021: £73.365} due after 5 year3. 16. Finallcial Instruments The c]wity bas the following financial ]n$t[u¢nts. 2022 2021 FinaJLcial assets that ar¢ debt instruments measured at amOrtis cost.. TTad¢ debtors 25.196 14,156 Financial liabilities measured at amortised ¢08t: Trddc ¢r¢ditors AccruaLs Bank loans and ov¢rthaLts 22,651 29.151 603,012 17,846 49,406 479,761 680,010 561,169 The bank loans of £603,012 (2021.. £479,761) are secured by a legal chavye originally datcd 8 D¢¢¢mber 1993 Lnd debenture dated 22 July 2008 which ¢onlains a ftKed and floating charge ovu th¢ undertaking and all property and assets present and fvbJre including good711, bad debts, uneA]led capits]. buildings, rtureS and fixed plant and maGhinory. 22
Greenbauk School Limited Notes to the Financial Statements for the Yr Ended 31 August 2022 17. Taxatlon The activilics L)f the Chty are exempt from coryx>rntion tsxation under section 505 of the tneome and COration Taxes A¢t 1988 to the extent ibat they are appIied to the organisation's charitable objectives. 18. Ca]led up share capital Allotted, issued attd fully pai(L. Class Nomtnal vakne 2022 2021 Ordinary £1 13 13 The charity 18 Incorporated as a ¢omp8ny Iitnited by slYar 8nd m¢mb¢rs' liability is limited to £1 each. tn case of winding up of th¢ tt1ated fjjnds are distributable to the mernbs. but Shall be give or tranSfed to, some other charitable institution having similar ObjtiVeS. 19. Movement in funds At I September 2021 Net movement in funds At 31 August 2022 Unre$tri¢ted fundi General fund Share capitsl lJ42.036 13 188.288 1530J24 13 1.342,049 188,288 1,530,337 Net movement in fi]nd6. inGludcd in th¢ abov¢ arc as follows: Incoming Movernent in Unre8tri¢t¢d fullds Generdl futsd Shar¢ capital 2,340,301 2.152,013 188,288 2,340,301 2,152,013 188,288 20. Related parts. trnn8a¢tion$ and ultlmats eontrolllng party Shares Jnay only be held by Tntees. There w&s no ultimatc controlling party during thc y¢ar under review or tbe prthing year. There are no related party transactions that rcquire disclosure for either the cllrrent or the comparative p10d. 21. Capital commitment$ 2022 2021 Contracted but not PTovid¢d for in th¢ fillala1 statements 435,473 435,473 23
Greenbank School LAmited Detailed Statement of FinanciAI Aetivities for the Year Ended 31 August 2022 The following page5 to not form part of the ststutor). flnanclal st4tetuellts DETAILED STATEMENT OF FINANCIAL ACTIvftIES FOR THE YEAR EIWED 31 AUGUST 2022 21122 2021 Fee8 re¢efved Tutlion Extra-curricular aCtleS and lunth smi¢e Pre and atler School care Holidav Club Nursery fe¢s aryd grant Swimming in¢ome 1,096.083 1,142,l19 106,748 18553 12,353 971,611 10,663 80,728 12,743 28,885 898.535 7,076 2,216,011 2,170,086 Direct eosts Salarie8 Employer's national iDsuran¢e Employer's pension contribution Materials Holiday club costs Milk and food Class irysits Swimming Games equipment Total direct costs (I.IIK),488) (86.871) (l(K).749) (32 ?89) (4,972) (150,877) (993) (10,102) (598) (1,099,836) {77,786) (94,327) (40,285) (9,459) (132,861) {6.592) {2,122) (1.487.939) (1,463,268) Contribution 728,072 706,818 Other income Donations Registration fee Bank- int¢r¢sl rw¢ivabl¢ Hirc of hall Job Retention S¢heme Business Int¢miplion Claim 12,0?6 15,590 260 74 5,965 104,665 244 11.6(A) I,(mm) I242) 126554 AdministratioD tost$ (sce page 25) (645268) (652,043) 181,329 Operating surplus 207,094 Bank interest paid (18.806) (12,883) (12.883) Tradlng 8urylusl {defi¢lt) 188288 168A46 24
Greellb&tth School Limited Detailed Statement of Financial Activities for the Year Ended 31 August 2022 (contilluedl ADMINISTIL4TION COSTS 2022 2021 Faciliti salaries Facilities s&larie6 NIC Fa¢ilitios salari¢s pension AdJninistr&tion salaries Administr&tion salaries NIC Administratioll 5alari¢s pension Pcn8ion scheme thinistrdtion costs Eleciricity Gas Gas oil General r&tes Water rates Insurance Telephone PrAnting and stationery Postage Advertising Repairs and maintenance Cleatsing Photocopier lease Subs¢ription8 Suttdries Battk clbwges Audit fees D¢pre¢iation Staff training Coinpuler GKpens¢q Bad debts Legal fees Professional fcc8 68,860 2,687 1,436 106,334 li,(A8 4,607 7.888 28562 2,789 5.954 1.615 10,219 l9.588 3.574 2,562 317 24,974 38.132 71,456 6,254 5,890 16,017 5.977 6,300 142,87l 6,735 22,957 425 957 17.683 56,195 2,180 1.235 139,247 12,101 5,944 8,612 26,549 4,148 4.726 9.094 7,993 17.238 3,862 3.719 1,84? 19,992 38,328 74,322 5,407 3,969 11,945 2,514 5,550 141,416 8,198 21,060 (102) 169 14,590 652,043 25