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2022-08-31-accounts

Page
Governors, Officers, Advisers
and Other information		 3-4
Annual
Report		 ofthe Governors 4-17
Strategic Report 9-16
Statement ofGovernors'
Responsibilities		 17
Independent Auditors'
Report		 18-21
Consolidated Statement of Financial Activities 22-23
Consolidated and Charity Balance Sheet 24
Consolidated Cash Flow Statement 25-26
Notes to the Financial Statements 26 - 46

uring
the year and sub		 sequently
are s		 et out bel ow.
Name Role Committees Appointment and resignation
BC Marsden Chairman 1,2, 3, 4, 5
P G Forrest Vice Chairman 2 5
DJ Ber 1,2
Mrs J M Meadows 1 5 Resi ned 30'" November 2021
J N Backhouse Designated Governor for
Welfare,
Health
&Safety and
Com
liance
Dr R D Dobrashian Designated Governor for
Safe uardin
O.J McCann Designated Governor for
Com
liance
Mrs L A Robinson Designated Governor for Early 4, 5
Years and Foundation Sta e
Mrs V Robinson-Ho
Mr G O' Neill Resi ned 5~ December 2022
Miss P L Williamson
Dr SBhattacharyya Designated Governor for
Safe
uardin
Ms H JCrosb
Mrs D A Northin Designated Governor for Early
Years and Foundation Sta e

prepared
for Higher Education
oach are:		 or t
Individual
Academic Success
Networkin
Communit
Social Ex
riences
Personalised
1:1Su
rt
Innovate Leadershi
Pro ramme
Recreational 0
ortunities
Entre
reneurial 21"Centu		 Skills
Destination
Read

—
---Year Ended 31"August 2022—---
Unrestricted
Restricted
Endowment
Total		 Year Ended
31"August
Funds Funds Funds Funds 2021
Total
Note 6
Income
Charitable
Activities
Fees receivable and
similar income 6,805,813 (3,120) 6,802,693 6,549,509
Ancillary
income		 384,363 384,363 363,438
Other trading
activities
Ancillary
income		 56,267 56,267 16,331
Voluntary sources
Donations
and legacies		 14,288 7,689 21,977 57,670
Investments
Investment
income		 9,020 2,526 11,546 f6,624
Total income 7,269,751 7,095 7,276,846 7,003,572
Expenditure
on:
Raising funds:
Financing costs
Investment
management		 costs 135,598
287		 518 135,598
805		 27,272
773
Bad debt expense
Fundraising
and publicity		 costs 42,199
187,927		 42,199
187,927		 1,163
238,871
366,011 518 366,529 268,079
Charitable
Activities: School Operating		 Costs:
Teaching costs 4,407,057 12,650 4,419,707 4,633,707
Welfare 591,361 591,361 449,848
Premises 1,061,309 1,061,309 917,409
Administration 1,534,974 1,534,974 f,150,185
7,594,701 12,650 7,607,351 7,151,149
Total expenditure 7,960,712 13,168 7,973,880 7,419,228
Net expenditure (690,961) (6,073) (697,034) (415,656)

——
----Year Ended 31"August 2022----——
Unrestricted
Restricted
Endowment
Total		 ——
----Year Ended 31"August 2022----——
Unrestricted
Restricted
Endowment
Total		 ——
----Year Ended 31"August 2022----——
Unrestricted
Restricted
Endowment
Total		 ——
----Year Ended 31"August 2022----——
Unrestricted
Restricted
Endowment
Total		 Year Ended
31'August
Funds Funds Funds Funds 2021
Total
Note
Net expenditure (690,961) (6,073) (697,034) (415,655)
Transfers
between
funds		 17, 18, 19 2,008 (2,008)
Other recognised
gains
Investment
(losses)/gains		 and losses
11,17,19		 (3,896) (6,792) (10,688) 11,861
Net movement in funds (692,849) (8,081) (6,792) (707,722) (403,795)
Funds brought
at 31"August		 forward
2021		 17, 18,19 9,286,818 25,343 84,819 9,396,980 9,800,775
Funds carried forward
at 31"August 2022 17, 18,19 8,593,969 17,262 78,027 8,689,258 9,395,980

Note 2022 f 2021 f
FIXEDASSETS
Tangible assets
Investments		 10
11		 11,483,416
122,777		 8,373,303
130,343
11,606,193 8,503,646
CURRENT ASSETS
Debtors 12 184,952 104,935
Cash in bank and in hand 1,444,574 2,667,528
1,629,526 2,772,463
CREDITORS
Amounts
falling due within one year		 13 (1,177,182) (804,230)
NET CURRENT ASSETS 452,344 1,968,233
TOTAL ASSETS LESSCURRENT LIABILITIES 12,058,537 10,471,879
CREDITORS
Amounts
falling due after more than
one year 14 (2,394,764) (455,424)
ACCRUALS AND DEFERRED
INCOME 15 (974,515) (619,475)
TOTAL NET ASSETS 16 8,689,258 9,396,980
FUNDS
Unrestricted Funds 17 8,593,969 9,286,818
Restricted
Funds		 18 17,262 25,343
Endowment Funds 19 78,027 84,819
8,689,258 9,396,980

2022 2021
Net cash Inflow/(oufflow)
from
Operations
(see note (a) below)		 277,794 (233,319)
Cashflows
from Investing
Investment
income		 activities 3,927 3,821
Interest received 7,619 12,803
Payments
for tangible fixed
Payments
for Investments		 assets (3,190,332)
(3,122)		 (775,202)
(3,049)
Net cash used In investing activities (3,181,908) (761,627)
(2,904,114) (994,946)
Cashf lowe from financing activities
Finance costs (135,598) (27,272)
Loans received 2,500,000 500,000
Loans repaid (523,495)
Net cash generated
from		 financing activities 1,840,907 472,728
Decrease In cash and cash equivalents in the year (1,063,207) (522,218)
Cash and cash equivalents at31"August 2021 2,507,781 3,029,999
Cash and cash equivalents at 31"August 2022 1,444,574 2,507,781
Relating to:
Bank balances and short-term deposits 1,444,574 2,667,528
Bank overdrafts (159,747)
1,444,574 2,507, 781
Notes to the Consolidated Cash Flow Statement
a.
Net cash inflow from		 operations
2022 2021
Net expenditure
before		 transfers and investment gains (697,034) (415,656)
Interest received (7,619) (12,803)
Investment
income		 (3,927) (3,821)
Financing costs
Depreciation
(Increase)/decrease		 in debtors 135,596
161,319
(80,017)		 27,272
145,349
42,080
Increase
in creditors		 414,434 7,727
Increase/(decrease) in accruals and deferred income 355,040 (26,620)
Gift aid recovery 3,153
Net cash inflow/(oufflow) from operations 277,794 (233,319)

b. Analysis ofChanges In Net Debt At 1" Cashf low At 31"
September August
2021
8		 2022f
Cash &cash equivalents:
Cash at bank and in hand		 2,667,528 (1,222,954) 1,444,574
Bank overdraft (159,747) 159,747
Total cash &cash equivalents 2,507,781 (1,063,207) 1,444,574
Debt:
Debts due in less than one year (44,576) (37,165) (81,741)
Debts due in more than one year (455,424) (1,939,340) (2,394,764)
Total debt (500,000) (1,976,505) (2,476,505)
Net Cash/(debt) 2,007781 3,039712 1,031,931

FEESRECEIVABLE AND SIMILAR INCOME
2022
f		 2021
Fees receivable
and similar income		 7,617,174 6,843,556
(after staff remissions
and family reductions)
Less: Bursaries awarded		 (199,063) (205,830)
Less: Scholarships
awarded		 (615,418) (88,217)
6,802,693 8,549,509
Number
of pupils
in receipt of bursaries		 41 43
Number of pupils
in receipt ofscholarships		 131 57

ANCILLARY INCOME
Unrestricted Restricted Endowments 2022 2021
f 6
Charitable
activities
Coach income 349,750 349,750 241,809
Government
Coronavirus		 Job
Retention Scheme 79,818
Government
contribution		 to
CBILSloan interest
After School care		 (see note 13) 12,500
13,426		 12,500
13,426		 12,500
4,153
Commissions
received		 2,150 2,150 2,700
Entrance exam fees 4,062 4,062 4,635
Other 2,475 2,475 17,823
384,363 384,363 363,438
Other trading
activities
Property
rental income		 56,267 56267 18,331

4. DONATIONS
AND LEGACIES		 DONATIONS
AND LEGACIES		 DONATIONS
AND LEGACIES
Unrestricted Restricted
f		 Endowments 6 2022
f		 2021
Donations
and legacies		 14,288 7,689 21,977 57,670
5. INVESTMENT INCOME
Unrestricted
6		 Restricted
f		 Endowments
6		 2022
6		 2021
Bank deposit interest
Investment
income		 7,619
1,401		 2,526 7,619
3,927		 12,802
3,822
9,020 2,526 11,546 16,624
6. TOTAL EXPENDITURE
Staff Dep'n Other Total
Costs
Financing costs
Investment
management
Bad debt expense
Fundraising
and publicity		 costs
costs		 41,173 135,598
805
42,199
146,754		 135,598
805
42,199
187,927
Costs ofgenerating funds 41,173 325,356 366,529
Teaching costs
Welfare costs		 3,826,926 154,417 438,364
591,361		 4,419,707
591,361
Premises 326,078 6,902 728,329 1,061,309
Support costs 664,257 870,717 1,534,974
Charitable
activities		 4,817,261 161,319 2,628,771 7,607,351
Total expenditure 4,858,434 161,319 2,954,127 7,973,880

Total resources expended indude: 2022
6		 2021
f
Auditors'
remuneration
-Audit 9,700 9,270
-Accountancy, taxation and other services 16,911 11,800
Governance
costs		 26,611 21,070
Depreciation 161,319 145,349
not separately
ident		 ified.
—
——--—
-----—2021-----—
——
—---
Staff Dep'n Other Total
Costs
6
Bank charges and interest
Investment
management
Bad debt expense
Marketing		 costs 105,599 27,272
773
1,163
133,272		 27,272
773
1,163
238,871
Costs of generating funds 105,599 162,480 268,079
Teaching costs
Welfare costs		 4,143,932 144,244 345,531
449,848		 4,633,707
449,848
Premises 361,338 1,105 554,966 917,409
Support costs 556,916 593,269 1,150,185
Charitable
activities		 5,062,186 145,349 1,943,614 7,151,149
Total expenditure 5,167,785 145,349 2,106,094 7,419,228

The average
number of		 persons employed
(including
Go		 vernors)
during the year was as		 follows:
2022 2021
Non-executive
governors
Teachers: full time		 11
50		 13
49
part time
Teaching support and pastoral
Office and administration		 21
21
19		 23
26
23
Domestic, maintenance and cleaning 23 26
145 160
Staff costs comprise:
Salaries and wages
Social security costs
Other pension costs		 3,865,692
386,221
606,521		 4,162,514
373,348
631,923
4,858,434 5,167,785
During the year there were redundancy
or termination
costs due to a staff restructure
to 67,825 (2021:5195,507). Amounts
off95,580were paid in the year, including
the
in the prior year, with f6556 accrued at 31"August 2022 (2021:6137296paidin the		 During the year there were redundancy
or termination
costs due to a staff restructure
to 67,825 (2021:5195,507). Amounts
off95,580were paid in the year, including
the
in the prior year, with f6556 accrued at 31"August 2022 (2021:6137296paidin the		 During the year there were redundancy
or termination
costs due to a staff restructure
to 67,825 (2021:5195,507). Amounts
off95,580were paid in the year, including
the
in the prior year, with f6556 accrued at 31"August 2022 (2021:6137296paidin the		 During the year there were redundancy
or termination
costs due to a staff restructure
to 67,825 (2021:5195,507). Amounts
off95,580were paid in the year, including
the
in the prior year, with f6556 accrued at 31"August 2022 (2021:6137296paidin the		 During the year there were redundancy
or termination
costs due to a staff restructure
to 67,825 (2021:5195,507). Amounts
off95,580were paid in the year, including
the
in the prior year, with f6556 accrued at 31"August 2022 (2021:6137296paidin the		 During the year there were redundancy
or termination
costs due to a staff restructure
to 67,825 (2021:5195,507). Amounts
off95,580were paid in the year, including
the
in the prior year, with f6556 accrued at 31"August 2022 (2021:6137296paidin the		 During the year there were redundancy
or termination
costs due to a staff restructure
to 67,825 (2021:5195,507). Amounts
off95,580were paid in the year, including
the
in the prior year, with f6556 accrued at 31"August 2022 (2021:6137296paidin the		 which amounted
amounts
accrued
year with 594311		 which amounted
amounts
accrued
year with 594311
accrued).
2022 2021
F 5
Governors' expenses 250
The number ofemployees whose emoluments exceeded f60,000 in the year was as follows:
E60,001 -f70,000
680,001 - 590,000
f100,001 - f110,000
f110,001 - 6120,000
5140,001 - f150,000
f150,001 - F160,000
4 5

FIXEDASSETS —GROUP A ND CHARITY
Freehold Furniture Motor Assets in Total
Land and and School Vehicles the
Buildings Equipment course of
construction
f f
COSTNALUATION
At 1"September 2021 10,226,707 4,738,756 117,197 689,611 15,772,271
Additions 346,662 4,750 2,920,020 3,271,432
Transfer 3,459,853 149,778 (3,609,631)
At 31"August 2022 13,686,560 5,235,196 121,947 19,043,703
DEPRECIATION
At 1"September 2021
Charge for the year		 2,856,464
6,902		 4,452,362
139,021		 90,142
15,396		 7,398,968
161,319
At 31"August 2022 2,863,366 4,591,383 105,538 7,560,287
NET BOOK VALUE AT
31"August 2021 7,370,243 286,394 27,055 689,611 8,373,303
31"August 2022 10,823,194 643,813 16,409 11,483,416

FIXEDASSETS —GROUP FIXEDASSETS —GROUP AND CHARITY ( AND CHARITY ( AND CHARITY ( continued)
DIRECTORS' VALUATION OF FREEHOLD LAND AND BUILDINGS
2022
f		 2021
Comprises:
Directors'
valuation
of land and
Subsequent
additions		 estimate
buildings
at cost		 of'continuing
existing use'
as at 31"August 1975		 410,000
13,276,550		 410,000
9,816,707
13,686,550 10,226, 707
All fixed assets are used for direct charitable purposes.
Land with a cost ofF1,029,407 (2021:f1,029,407) is not depreciated.
INVESTMENTS —GROUP AND CHARITY
Listed Cash Total
investments
f f f
Market value at 1a September 2021 125,674 4,669 130,343
Additions 18,590 (18,590)
Disposals
Income		 (17,339) 17,339
3,927		 3,927
Fees paid (805) (805)
Unrealised
and realised losses		 arising in the year (10,688) (10,688)
Market value at 31"August 2022 116,237 6,540 122,777
2022
f		 2021
Historical cost ~122201 118626
Listed investments 2022
f		 2021
f
UK investments 41,021 91,693
Overseas
and other		 investments 75,216 33,981
116,237 125,674

Investments
with a market va		 lue of over 5'/0 ofthe total mark et value of investments
are as		 follows:
2022
f		 2021
f
Vanguard
FTSE UK All Share Index
Legal &General
All Stocks Gilt Index		 6,235 7,717
DEBTORS —GROUP AND CHARITY:
Amounts
falling due within		 one year 2022f 2021
Fee debtors 63,358 15,346
Prepayments
Amounts
due from subsidiary
Other debtors		 undertaking 117,432
4,162		 64,441
24,323
825
184,952 104,935
CREDITORS —GROUP AND CHARITY:
Amounts
falling due within		 one year 2022f 2021
Bank loans and overdrafts 81,741 204,323
Deposits received
Taxation and social security		 221,059
95,974		 177,529
166,514
Trade creditors
and accruals		 679,407 255,864
Amounts
due to subsidiary
company		 99,001
1,177,182 804,230

Amou nts
falling due after more than one year
2022
8		 2021
f
Loans ~2394764 455,424
The loans are repayable as follows: 2022 202f
6
Within
1 to 2
2to 5
More		 1 year
years
years
than 5years		 81,741
114,253
2,280,511		 44,576
92,556
307,069
55,797

Feespaid in advance:
One Term Extended Total
8 F f
Amounts
at 1"September
2021
Amounts
received
in the year
Amounts
utilised
in payment
offees		 458,482
717,417
(458,482)		 160,993
721,082
(624,977)		 619,475
1,438,499
(1,083,459)
Market value at 31"August 2022 717,417 257098 974515
One Term Extended Total
f E 6
Amounts
at 1"September 2020
Amounts
received
in the year
Amounts
utilised
in payment
offees		 490,964
458,482
(490,964)		 155,131
230,010
(224,148)		 646,095
688,492
(715,112)
Market value at 31"August 2021 458,482 160,993 619,475

ANALYSIS OF NET A SSETS BETWEEN FUNDS —GROUP AN D CHARITY
Undesignated Designated Restricted Endowment 'Total
F f
Fund balances at 31"August 2022 are represented by:
Tangible fixed assets
Investments		 44,750 11,481,755 1,661 78,027 11,483,416
122,777
Debtors 184,952 184,952
Cash in hand
Cash at bank		 660
4,023,156		 (2,594,843) 15,601 660
1,443,914
Creditors
Accruals
and deferred		 income (1,546,545)
(974,515)		 (2,025,401) (3,571,946)
(974,515)
Total net assets 1,732,458 6,861,511 17,262 78,027 8,689,258

UNRESTRI C 'TED FUNDS — GROUP AND CHARIT Y (continued )
Balance
1"September
2020		 Income Expenditure Gains/
(/oases)
and		 Balance
31"August
2021
transfers
Designated
Funds:
Fixed Asset Fund
Principal's
Fund
Westholme
2022		 6,718,478
5,158
2,600,000		 76,889
(481,048)		 6,795,367
5,158
2,118,952
9,323,636 (404,159) 8,919,477
Undesignated
Funds:
General Reserve		 388,857 6,967,748 (7,410,075) 420,811 367,341
9,712,493 6,967,748 (7,410,075) 16,652 9,286,818
RESTRICTED FUNDS —GROUP AND CHARITY
Balance
1"September		 Income Expenditure Transfers Balance
31"August
2021 2022
Bursaries 18,720 (3,120) 15,600
Westholme Association 6,623 7,689 (12,650) 1,662
Investment income 2,526 (518) (2,008)
25,343 7,095 (13,168) (2,008) 17,262
School for specific purposes.
Balance
1"September		 Income Expenditure Transfers Balance
31"August
2020 2021
Bursaries 29,720 (11,000) 18,720
Westholme Association 11,181 3,587 (8,643) 498 6,623
Investment income 2,517 (510) (2,007)
11,181 35,824 (9,153) (12,509) 25,343

OF FUND
Unrestricted Restricted Endowment Total
Funds
f		 Funds Funds Funds
Income
Charitable
Activities
Fees receivable
and		 similar income 6,549,509 6,549,509
Ancillary
income		 363,438 363,348
Other trading
activities
Ancillary
income		 16,331 16,331
Voluntary
sources
Donations
and legacies		 24,363 33,307 57,670
Investments
Investment
income		 14,107 2,517 16,624
Total income 6,967,748 35,824 7,003,572
Expenditure
on
Raising funds:
Bank charges and interest 27,272 27,272
Investment
management		 costs 263 510 773
Bad debt expense 1,163 1,163
Publicity,
marketing,		 and events 238,871 238,871
267,959 510 268,079
Charitable
Activities:		 School Operating Costs
Teaching costs 4,625,064 8,643 4,633,707
Welfare 449,848 449,848
Premises 917,409 917,409
Administration 1,150,185 1,150,185
7,142,506 8,643 7,151,149
Total expenditure 7,410075 9153 7,419,228
Net Income (442,327) 26,671 (415,656)

OF FUND (continued)
Unrestricted Restricted Endowment Totet
Fundsf Fundsf Fundsf Fundsf
Net Income (442,327) 26,671 (415,656)
Transfers
between
funds		 (12,509) 12,509
Other recognised
gains and losses
Gain on investments 4,143 7,718 11,861
Net movement
in funds		 (425,675) 14,162 7,718 (403,795)
Funds broughtforward
at31"August 2020		 9,712,493 11,181 77,101 9,800,775
Funds carried forward
at31"August 2021 9,286,818 25343 84,819 9,396,980