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 stst￿￿t of Finaucial Activities for the yw end￿1 31 August 2022 Greenbank School Limited Report of the Trn8tee5 for the Year Ended 31 August 2022 REPORT OF TItE TRUSTEES The Tn￿teeS of Greenbank School Limited pr￿11 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 ￿llC￿tiOn 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 excellud of th¢irwti¢ipation and all three receivs] certificate8 to recognisetheir achievement. 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 W0￿￿0P8 covering creativ¢ writing> art and mathemati(3 challeng￿. In spo¢ the School participated ID cOM￿tillonS 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 fInance￿ryth 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 Su￿luse5 to repay alld smi¢e8 thw¢ loans. The School's free reserves (calculated as unrestricted fimds less tall￿￿1e f￿ed 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 pa￿￿1. 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 coln￿At￿¢￿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, CO￿RNANcE 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 cO￿paniC¥ Act 2￿6. Recruitmellt appoilltrnent of new Trustees en r￿rUItillg 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, recor￿￿endatiOnS 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]$tee has a pertod of inductton Spending time with the Chairnian, Treasurer and Headte2cher. Depending ott therole and specialism of the Trustee. they spend time on site atth¢ School with the School's SLT, covering all aspects of the School's operatioo they m&y atso S￿Thd time with the appropriate profusioDal a(fviser8. Key manggement personnel Th¢ Truste¢$ consider that they, together with theHeadteacher and the SLT, comprise the Key Management Personnel. The Trustees give tbeir time freely and th¢ pay and [c￿uD¢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¢ Tn￿teeS 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 ed￿￿tional 48P￿t5 Org￿l$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¢ T￿￿tee5 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[m￿l 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 rna￿28ed 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-s￿e AS po￿lb1¢. 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 C￿0￿¢ll[ that wo￿8 with supp)rtive parents whose Children have an aPp￿lte for learning" and A bursary scheme that recognises pupil achievement aud aptitud& Througb the risk Manag￿nettt proe&ggey establisbcd for the School, the TTUStees are 8ati8ficd that the major risks identified have been adequately miligal¢d w,h¢r¢ ne￿sary. It is r￿OgnIsed 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 {ap￿inted 15 November 2021) Mrs A. Ber￿1 Mr l. Bryning Mrs K. Challah Mrs S. Cr￿leY (Ta8igned 28 November 2022) Mrs C. Jo])nson Mrs B. Skelton (resi￿ed ?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[a￿tOry 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 Eltinb￿h 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 StsteM￿lS 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 f￿all¢la1 statements, the TTUSte&% are required to: S¢1￿1 suitable a¢coullting ￿)licA¢S and apply consist¢lldy> observe the meth￿S 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 bw8jll￿S. Thc Tru51e¢y ar¢ r¢sponsibl¢ for kccping propcraC￿unliDg which d￿lose 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, illclud￿g 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 re80￿rceS, 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¢ b￿ll pr￿r￿ 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￿ deSCri￿d 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 $i￿1ficant doubt on the Charitable Company's ability tr) continLe L% a going concern for a period of at leASt twelv¢ n)onthB from wh¢n tb¢ fmancial statements are authorised for issue. Our responsibi]ities and tlLe rw)nsibilities of the trltstets with re8￿t to going cotLcern are described in the Televaut scctions of this reporL Other illforniatlon The truste&8 arc rc6w>nsible for the Oth￿ inforniation. The other inftFrniation comprist% the infomiation included in the Annual Report, other than the fLIMac￿ statements alld our Report of the tndep¢udcnl Auditors thereon. Our opinion on the financial statements does not cover the other iThforniation aud. cx¢ot to the cxtent otherwise explicitly statd in our repon, we do not expre&q any forni of assurance conclusion thereon. Greenbajjk Sth(wl Limited Report of the Indepelldent Audltors to the Trnstees of Greenballk School LitDi*ed In ¢onne¢tion with OUT audit of the fiTwicia] statements, our res￿nsibi]Ity is to read the other inforniation and, in doing so, consid¢r wh¢th¢r the other inforniation 18 materially irLconsistent with the financial statements or our knowledge obtained in the iudit or oth¢r¥Trise appears to matsrially mis$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 ￿l￿tat¢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 2￿8 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 a￿eemellt 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.Res￿nSibil1ties, thelDJstees (who are also thed1r￿) of the Ch&riiable Company for thc pu￿￿se8 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 1Th￿tees eitbu in￿d to liquidate the a]aTitable Company or to c￿Se 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 ob￿lti trasouable a￿uranCe 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¢r￿1 material i£ individually or iTh the aggregat< they could r¢asonably b¢ ¢xp¢cl¢d to influ¢n¢e th¢ e¢onmi¢ d￿1￿10n9 of users tsken on the basi6 of these financial ststements. The extent to which ourprocedures are capable of det￿titig 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 rnanagern￿t 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 t￿n at our audit planning meeting. As an iTrdq*nd¢nt prcpardlory school, non-compjiancc with the Independent Schoo]s Ins￿tOrate (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$1 ￿1¢Yant. Our auditPToC￿urcs to r¢s￿nd to these risks included.. Greenbank School Limited Report of the Independent AudAtors to the Trnstees of Greenbonk S¢bool Limited Enquiries with managemen¢ InSp￿tiQll of regulatorv Tecords. inspection re￿rts. submi&sion8 aud other wrr¢8polld¢oc¢' Chall¢ngsug of management assumption8 and judgernents in relaiion to accounting estimates. Review of journals entered throughout the year. Substantive trallsa¢tion t¢sting. D¢spits appropriat¢ plalllling alldperforniillg ourworkill a(wrdaDcewith Intemational Auditing Stsndard8, there L￿e ￿WayS inherent lin)itations that non-compli8nc¢ is not d¢twtrd. Non-compliancc wtth laws alld Tegulatiolls is often further removed from the evfflts and transactions refieeted in the financial statements and mat¢rial mi&¥tat¢m¢nts due to fraud can be deliberately collceal￿ from auditors, for example through rntsrepre8entation. forgery or collusioll. A fLlltberdescriptii)n of ourrwibilities forthe audit of thefinaneial state[ne￿ts 18 Iwat¢d on tbe Fiwi¢xal Reporting Council's website at www.frc.org.uk18uditorsrwil)iliti&g. This description forn￿ part of our R¢port of the Independent Auditors. Use of our report This report is made solely to the Charitable CompanYs trustees, as a iK)dy. iti a￿OrdanGe witb Part 4 oftbo Charities (A¢¢ounts and RepoTts) Regulations 2(MTr8. Our audit WO￿ bas been undertaken so that we might 8tal¢ to the Charitabl¢ Company's tn￿t￿S tbose matta8 we are Twil￿j to stste to them in an auditors, report and for no other puox)se. To the fi￿est eX￿t witted by law. we do not accept or a￿llnLe responsibility lo anyone other thall the Chariiable Company alld ihe C]witable Company's tNstees as a Ix)dy. for our audit work. for thi's rryrt. or for the opiruolls we have form&J. for and on behalf of DJH Mitten CIArke Audit Limitcd SiattLtory AudiloT Eligible to act as all auditor itt t¢nll$ 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 Fu￿￿s 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 CRED￿oRs 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 I￿0)57 lJ42,049 The notes fomi parf of th¢8¢ fiDaDcial sta1c￿ents. 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 s￿lI0n 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 sp￿la1 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 Lkn￿ted 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 fl￿￿8 Add back depreciatioll ch￿¢ D￿llCt 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 STATE1VI￿s 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¢ E*en pward tn accordance with A￿￿ntitig alld Reporting by Charities.. Statement of R￿01￿Mend￿ 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 prepar￿1 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 eth￿￿tion is providelicy notd on page 16, 18 not depreciated. Except under ￿ order of the regis￿r. 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 L5ll￿ted 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 good￿711, bad debts, uneA]led capits]. buildings, r￿tureS and fixed plant and maGhinory. 22 Greenbauk School Limited Notes to the Financial Statements for the Y￿r Ended 31 August 2022 17. Taxatlon The activilics L)f the Ch￿￿ty are exempt from coryx>rntion tsxation under section 505 of the tneome and CO￿ration 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¢ ￿￿tt￿￿1ated fjjnds are distributable to the mernb￿s. but Shall be give￿ or tranSfe￿d to, some other charitable institution having similar Obj￿tiVeS. 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 Tn￿tees. 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 p￿10d. 21. Capital commitment$ 2022 2021 Contracted but not PTovid¢d for in th¢ filla￿la1 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 aC￿￿tleS 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