2023-08-31-accounts - Westholme School Limited

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			Page
Governors,	Officers, Advisers and Other information		3-4
Annual Report ofthe Governors			3-19
Strategic Report
Statement ofGovernors' Responsibilities			18
Independent	Auditors' Report		20 - 23
Consolidated	Statement ofFinancial	Activities	24-25
Consolidated	and Charity Balance Sheet		26
Consolidated	Cash Flow Statement		27 - 28
Notes to the	Financial Statements		29-48

uring the year and sub	sequently are	set out bel	ow.
Name	Role			Committees	Appointment	and resignation
BC Marsden	Chairman			1,2, 3,4, 5
P G Forrest	Vice Chairman			2,5
DJBe				1,2
J N Backhouse	Designated	Governor	for
	Welfare, Health tt 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	Education	Committee	Chair	4, 5
Mrs V Robinson-Ho
Mr G O' Neill					Resi ned 5a	December 2022
Miss P L Williamson				4, 5
Dr SBhattacharyya	Designated	Governor	for
	Safe uardin
Ms HJCrosb
Mrs D A Northin	Designated	Governor	for Early	3,4
	Years and	Foundation	Sta e

KEYMANAGENIENT	KEYMANAGENIENT
Dr R Robson		Principal
Mrs VJDavenport		Commercial Director
ADVISERS
Auditors		Beever SStruthers
		Statutory Auditors
		Chartered Accountants
		One Express
		1 George Leigh Street
		Manchester
		M4 5DL
Bankers		Yorkshire Bank Pic
		Corporate Leeds
		94-96Briggate
		Leeds
		LS1 6NP
		National Westminster		Bank PLC
		35 King William Street
		Blackburn
		BB17DL
Solicitors		Backhouse Jones	Solicitors
		The Printworks
		Hey Road
		Clitheroe
		BBT9WD
Investment	Managers	Close Brothers
		80 Moseley Street
		Manchester
		M2 3FX
REGISTERED NUMBERS
Company	number	926692 (England	and	Wales)
Charity number		526615

				FY2023 Charit	Nlonies Raised
Children in Need					61871.87
Christmas Jum er	D	Save	the	Children	6598.50
ElfDa Alzheimer's	UK				6183.70
Pre Carol Concert	Guide D		s		6494.82
Comic Relief —Red	Nose Da				6995.70
Ukraine A eal					6265.50
East Lancashire Hos		ice			61176.00
Macmillan Cake Sale					61789.50
Pakistan Flood A		al			6256.50
Po eal					6223.10
Cand Canes					655.00
BwD e UK					E657.00
Turk S ria Earth	uake				Ef344.00
Cancer Research/	S oons				6790.00
Wear it Wild WWF					8124.00
Amnes Int.					E272.93
Total Raised					R10898.12

		-------Year Ended 31"August 2023——— Unrestricted Restricted Endowment Total Funds Funds Funds Funds Year Ended 31"August 2022	-------Year Ended 31"August 2023——— Unrestricted Restricted Endowment Total Funds Funds Funds Funds Year Ended 31"August 2022	-------Year Ended 31"August 2023——— Unrestricted Restricted Endowment Total Funds Funds Funds Funds Year Ended 31"August 2022	-------Year Ended 31"August 2023——— Unrestricted Restricted Endowment Total Funds Funds Funds Funds Year Ended 31"August 2022	-------Year Ended 31"August 2023——— Unrestricted Restricted Endowment Total Funds Funds Funds Funds Year Ended 31"August 2022
		Note	f	f		Totalf
Income
Charitable Activities
Fees receivable	and
similar income			7,863,036	(3,120)	7,859,916	5,802,593
Ancillary income			520,824		520,824	364,353
Other trading activities
Ancillary income			68,573		68,573	55,257
Voluntary sources
Donations and legacies			14,614	48,088	62,702	21,977
Investments
Investment income			1,695	2,545	4,240	11,546
Total income			8,468,742	47,513	8,516,255	7,276,846
Expenditure on:
Raising funds:
Financing costs			160,963		160,963	135,598
Investment management		costs	287		769	805
Bad debt expense			7,617		7,617	42,199
Fundraising and publicity		costs	291,003		291,003	187,927
			459,870		460,352	356,529
Charitable Activities: School Operating			Costs:
Teaching costs			5,174,757	12233	5,186,990	4,419,707
Welfare			680,358		680,358	591,361
Premises			1,168,627		1,168,627	1,051,309
Administration			1,690,498		1,690,498	1,534,974
			8,714,240	12233	8,726,473	7,607,351
Total expenditure			9,174,110	12,715	9,186,825	7,973,850
Net expenditure			(705,368)	34,798	(670,570)	(697,034)

					2023		2022
			Nota
FIXEDASSETS
'Tangible assets			10		11,637,879		11,483,416
Investments			11		120,659		122,777
					11,758,538		11,505,193
CURRENT ASSETS
Debtors			12	550,986		184,952
Cash in bank	and in hand			1,087,731		1,444,574
				1,638,697		1,692,528
CREDITORS
Amounts falling due within		one year	13	(837,798)		(1,177,182)
NET CURRENT ASSETS					800,902		452,344
TOTAL ASSETSLESSCURRENT			LIABIUTIES		12,559,440		12,058,537
CREDITORS
Amounts falling due after		more than
one year			14		(2,305,615)		(2,394,764)
ACCRUALS	AND DEFERRED
INCONIE			15		(2,240,543)		(974,515)
TOTAL NETASSETS					8,013,282		8,589,255
FUNDS
Unrestricted	Funds		17		7,888,604		8,593,969
Restricted Funds			18		49,997		17,262
Endowment	Funds		19		74,681		78,027
					8,013,282		8,689,258
The Financial	Statements	were approved		by the Governing	Body on .6!)2!23....

							2023		2022
Net cash inflow from operations
(see note (a) below)							241,484		277,794
Cashflowe from investing	activities
Investment income						2,545		3,927
Interest received						1,695		7,619
Payments for tangible fixed	assets				(411,982)			(3,190,332)
Proceeds on disposal oftangible fixed			assets			3,301
Payments for Investments					(3,288)			(3,122)
Net cash used in investing		activities					(407,729)		(3,181,908)
							(166,245)		(2,904,114)
Cashflowe from financing	activities
Finance costs					(108,309)			(135,598)
Loans received								2,500,000
Loans repaid					(82,289)			(523,495)
Net cash (used in)/generated		from financing			activities		(190,598)		1,840,907
Decrease in cash and cash equivalents Cash and cash equivalents at 31"August				in the year 2022			(356,843) 1,444,574		(1,063,207) 2,507,781
Cash and cash equivalents		at 31"August 2023					1,087,731		1,444,574
Relating to:
Bank balances and short-term		deposits					1,087,731		1,444,574
Notes to the Consolidated	Cash Flow Statement
a. Net cash inflow from	operations
								2023 F	2022f
Net expenditure before	transfers		and	investment		gains		(670,570)	(697,034)
Interest received								(1,695)	(7,619)
Investment income								(2,545)	(3,927)
Financing costs								108,309	135,598
Depreciation								193,551	161,319
Increase in debtors								(366,013)	(80,017)
(Decrease)/increase in	creditors							(285,580)	414,434
Increase in accruals and		deferred	income					1,266,027	355,040
Nel cash inflow/(oufflow)		from operations						241,484	277,794

Analysis	ofChanges	in Net Debt	At 1e	Cashfiow	Non~eh	At 31e
			September		movement	August
			2022f			2023 6
Cash &cash equivalents:
Cash at bank and in hand			1 444 574	356843		1,087,731
Debt:
Debts due	in less than	one year	(81,741)	(32,512)		(114,253)
Debts due	in more than	one year	(2,394,764)	114,801		(2,279,963)
Obligations	under finance leases				(36,325)	(36,325)
Total debt			(2,476,505)	82,289	(36,325)	(2,430,541)
Net debt			1,031,931	274,554	3632	1342810

tes used	are as follows:
Freehold	Buildings	20to 50years
Furniture	and School Equipment	10%and 20%straight	line
Computers		33%straight line
Motor Vehicles		25% reducing balance

FEESR	ECEIVAB	LE	AND SINIILAR INCOME
				2023	2022
				8
Fees receivable and			similar income	9,153,873	7,617,f74
(after staff remissions			and family reductions)
Bursaries	awarded			(235,139)	(199,063)
Scholarships awarded				(1,058,818)	(6f5,418)
				7,859,916	6,802,693
Number	ofpupils	in receipt of bursaries		46	41
Number	ofpupils	in receipt ofscholarships		192	131

ANCILLARY INCOME
		Unrestricted f	Restricted f	Endowments	f	2023 f	2022f
Charitable activities
Coach income		472,446				472,446	349,750
Government contribution	to
CBILSloan interest	(see	note 13)					12,500
ARer School care		23,386				23,386	13,426
Registration fees		8,800				8,800
Commissions received							2,150
Entrance exam fees		3,891				3,891	4,062
Other		12,301				12,301	2,475
		520,824				520,824	364,363
Other trading activities
Property rental income		68,573				68,573	56,267
DONATIONS AND LEGACIES
		Unrestricted f	Restricted f	Endowments	f	2023 f	2022 f
Donations and legacies		14,614	48,088			62,702	21,977
INVESTMENT INCOME
		Unrestricted f	Restricted f	Endowments f		2023 f	2022 f
Bank deposit interest		183				183	7,619
Investment income		1,512	2,545			4,057	3,927
		1,695	2,545			4,240	11,546

TOTAL EXPEN	DIT	URE
				—----——— —— 2023————————
				Staff	Dep'n	Other	Total
				Costs
Financing costs						160,963	160,963
Investment management			costs			769	769
Bad debt expense						7,617	7,617
Fundraising and	publicity		costs	35,632		255,371	291,003
Costs ofgenerating		funds		35,632		424,720	460,352
Teaching costs				4,387,351	186,900	612,739	5,186,990
Welfare costs						680,358	680,358
Premises				401,053	6,651	760,923	1,168,627
Supportcosts				761,832		928,666	1,690,498
Charitable activities				5,550,236	193,551	2,982,686	8,726,473
Total expenditure				5,585,868	193,551	3,407,406	9,186,825
Total resources	expended		include:
						2023	2022
						6
Auditors' remuneration
-' Audit						10,000	9,700
-Accountancy,	taxation, and other services					8,542	16,011
Governance costs						18,542	26,611
Depreciation						193,551	151,319
Operating lease	charges

TOTAL EXPENDITURE	TOTAL EXPENDITURE	(continued)	————————— 2022-———---	————————— 2022-———---	————————— 2022-———---	————————— 2022-———---
			Staff	Dep'n	Other	Total
			Costs
Financing costs					135,598	135,598
Investment management		costs			805	805
Bad debt expense					42,199	42,199
Fundraising and publicity		costs	41,173		146,754	187,927
Costs ofgenerating	funds		41,173		325,356	366,529
Teaching costs			3,826,926	154,417	438,364	4,419,707
Welfare costs					591,361	591,361
Premises			326,078	6,902	728,329	1,061,309
Support costs			664,257		870,7'/7	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

The average number of	persons employed (including Go	vernors) during the year was as	follows:
		2023	2022
Non-executive governors		12	11
Teachers: full time		57	50
part time		19	21
Teaching support and pastoral		26	21
Office and administration		20	19
Domestic, maintenance	and cleaning	25	23
		159	145
Stalf costs comprise:
Salaries and wages		4,569,908	3,865,692
Social security costs		441,770	386,221
Other pension costs		703,838	606,521
		5,715,516	4,858,434

The number ofemployees	whose emoluments	exceeded 660,000 in the year was as follows:
860,001 - 670,000
f80,001 - 690,000
F110,001 - 6120,000
6140,001 - 6150,000
E150,001 - 6160,000

FIXEDASSETS —GROUP AND CHARITY	FIXEDASSETS —GROUP AND CHARITY
	Freehold	Furniture	Motor	Total
	Land and	and School	Vehicles
	Buildings	Equipment
COSTNALUATI 0N
At 1"September 2022	13,686,560	5,235,196	121,947	19,043,703
Additions	82,613	218,961	49,741	351,315
Disposals			(37,322)	(37,322)
At31"August 2023	13,769,173	5,454,157	134,366	19,357,696
DEPRECIATION AND	IMPAIRMENT
At 1"September 2022	2,863,366	4,591,383	105,538	7,560,287
Charge for the year	7,361	170,156	16,744	194,261
Disposals			(34,731)	(34,731)
At31"August 2023	2,870,727	4,761,539	87,551	7,719,817
CARRYING AMOUNT	AT
31"August 2022	10,823,194	643,813	16,409	11,483,416
31"August 2023	10,898,446	692,618	46,815	11,637,879
DIRECTORS' VALUATION OF FREEHOLD LAND AND		BUILDINGS
			2023 6	2022 f
Comprises: Directors' estimate of'continuing existing use' valuation of land and buildings as at31"August 1975			410,000	410,000
Subsequent additions	at cost		13,359,173	13,276,560
			13,769,173	13,686,560

11.	INVESTM	ENTS	—GROUP AND	CHAR	ITY
						Listed	Cash	Total
						investments
						6	f	f.
	Market value at 1"September 2022					116,237	6,540	122,777
	Additions					41,416	(41,419)
	Disposals					(32,106)	32,106
	Income						4,057	4,057
	Fees paid						(769)	(769)
	Unrealised	and realised losses arising			in the year	(5,406)		(5,406)
	Market value at31"August 2023					120,143	516	120,659
							2023	2022
							6
	Historical	cost					122,927	122,201
	Listed investments						2023	2022
							f
	UK investments						42,964	41,021
	Overseas	and other investments					77,179	75,218
							120,143	116,237
	The investments		are all managed	in the UK.
	Investments with		a market value ofover 5%ofthe total market value of investments are as follows:
							2023f	2022f
	Vanguard	FTSE	UK All Share Index				6,147	6,235
	Schroder	Income					6,116
12.	DEBTORS —GROUP AND CHARITY:
	Amounts	falling	due within one	year
							2023 6	2022 f
	Fee debtors						146,144	83,358
	Prepayments						377,031	117,432
	Other debtors						25,791	4,182
							550,966	184,952

he Schoo	l	has two loan facilities with Yorkshire Ba	nk	pic.	The	details ofthe facili	details ofthe facili	ties are	as fo	llo	ws:
		62,000,000 loan				8500,000 loan
Term		5years from February 2022				5years from February 2022
Interest		4.41%fixed rate for the term ofthe				4.43%fixed rate		for the term of			the
		loan				loan
Repayment		Interest only for the first year		and		Equal monthly instalments			for the
		equal monthly instalments	for			term ofthe loan.		The remaining
		subsequent years. The remaining				balance ofthe loan is repayable					at
		balance ofthe loan is repayable			at	the end ofthe five-year term.				It	is
		the end ofthe five-year term.		It is		intended	that the	loan will	be
		intended that the loan will	be			refinanced	at that	point
		refinanced at that point
Security		Fixed and floating charges	over land			Fixed and	floating	charges over			land
		and other assets				and other	assets
REDITO	R	S —GROUP AND CHARITY:
mounts	falling due after more than one year
								2023		2022
								6
bligations		under finance leases					25,652
oans							2,279,963		2,394,764
							2,305,615		2,394,764

Fees pai	d in advance:
		One Term	Extended	Total
Amounts	at 1"September 2022	f 717,417	f 257,098	K 974,515
Amounts	received in the year	518,501	1,663,217	2,181,718
Amounts	utilised in payment offees	(724,456)	(191,235)	(915,690)
Market value at31"August 2023		511,462	1,729,080	2,240,543
		One Term	Extended	Total
Amounts	at 1"September 2021	F 458,482	f 160,993	f 619,475
Amounts	received in the year	717417	721,082	1,438,499
Amounts	utilised in payment offees	(458,452)	(624,977)	(1,083,459)
Market value at31"August 2022		717,417	257,098	974,515

		Undesignated	Designated	Restricted	Endowment	Total
		6	6
Fund balances at31"August		2023are represented	by:
Tangible fixed assets			11,637,879			11,637,879
Investments		45,978			74,681	120,659
Debtors		550,966				550,966
Cash in hand		139				139
Cash at bank		3,949,391	(2,911,796)	49,997		1,087,592
Creditors		(1,147,107)	(1,996,303)			(3,143,410)
Accruals and deferred	income	(2,240,543)				(2,240,543)
Total net assets		1,158,824	6,729,780	49,997	74,681	8,013,282
		Undesignated	Designated	Restricted	Endowment	Total
Fund balances at 31"August		2022 are represented	by:
Tangible fixed assets			11,481,755	1,661		11,483,416
Investments		44,750			78,027	122,777
Debtors		184,952				184,952
Cash in hand		660				660
Cash at bank		4,023,156	(2,594,843)	15,601		1,443,914
Creditors		(1,546,545)	(2,025,401)			(3,571,946)
Accruals and deferred	income	(974,515)				(974,515)
Total net assets		1,732,458	6,861,511	17,282	78,027	8,689,258

			Balance 1"September	Income	Expenditure	Gainsl (losses)	Balance 31"August
			2021			and	2022
						transfers
Designated		Funds:
Fixed Asset		Fund	6,795,367			60,986	6,856,353
Principal's	Fund		5,158				5,158
Westholme		2023	2,118,952			(2,118,952)
			8,919,477			(2,057,966)	6,861,511
Undesignated		Funds:
General Reserve			367,341	7,269,751	(7,960,712)	2,056,078	1,732,458
			9,286,818	7269,751	(7,960,712)	(1,888)	8,593,969

RESTRICT	ED FUNDS —GR	OUP AND CHARITY
		Balance 1"September	Income	Expenditure	Transfers	Balance 31"August
		2022				2023
Bursaries		15,601	29,570			45,171
Westholme	Association	1,661	15,398	(12,233)		4,826
Investment	income		2,545	(482)	(2,063)
		17,262	47,513	(12,715)	(2,063)	49,997

School for	specific purposes.
		Balance 1"September	Income	Expenditure	Transfers	Balance 31s August
		2021				2022
Bursaries		18,720	(3,120)			15,600
Westholme	Association	6,823	7,689	(12,650)		1,682
Investment	income		2,526	(518)	(2,008)
		25,343	7,095	(13,168)	(2,008)	17,262

		Balance 1"September	Gains/ (losses)	Balance 31"August
		2022	and	2023
			transfers
Permanent	Endowments	78,027	(3,346)	74,681

for school	bursaries.
		Balance 1"September	Income	Expenditure	Gains/ (losses)	Balance 31"August
		2021			and	2022
					transfers
						5
Permanent	Endowments	84,819			6,792	78,027

considered t	o be material	to the accounts ofthe School.
			2023	2022
			6
Westholme	Promotions	Limited
Aggregate ofCapital and		Reserves	(3,713)	(f1,438)
Turnover			430,199	53,714
Cost ofsales			(422,296)	(50,486)
Gross Profit			7,994	3,228
Administrative	expenses		(167)	(2,583)
Result for the year			7,727	645

				Other
			2023 6	2022 f
Within	one	year		28,080

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES —COMPARATIVE FIGURES BYTYPE	CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES —COMPARATIVE FIGURES BYTYPE	CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES —COMPARATIVE FIGURES BYTYPE	CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES —COMPARATIVE FIGURES BYTYPE	CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES —COMPARATIVE FIGURES BYTYPE	CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES —COMPARATIVE FIGURES BYTYPE	CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES —COMPARATIVE FIGURES BYTYPE
OF FUND
			Unrestricted	Restricted	Endowment	Total
			Funds	Funds	Funds	Funds
Income
Charitable Activities
Fees receivable and	similar income		6,805,813	(3,120)		6,802,693
Ancillary income			384,363			384,363
Other trading activities
Ancillary income			56,267			56,267
Voluntary sources
Donations and legacies			14,288	7,689		21,977
Investments
Investment income			9,020	2,526		11,546
Total income			7,268,751	7,095		7,276,846
Expenditureon
Raising funds:
Bank charges and interest			135,598			135,598
Investment management		costs	287	518		805
Bad debt expense			42,199			42,199
Publicity, marketing,	and events		187,927			187,927
			366,011	518		366,529
Charitable Activities:	School Operating		Costs
Teaching costs			4,407,057	12,650		4,419,707
Welfare			591,361			591,361
Premises			1,061,309			1,061,309
Administration			1,534,974			1,534,974
			7,594,701	12,650		7,607,351
Total expenditure			7,960,712	13,168		7,973,880
Net income			(690,961)	(6,073)		(697,034)
Transfers between funds			2,008	(2,008)
Other recognised gains and losses
Gain on investments			(3,896)		(6,792)	(10,688)
Net movement in funds			(692,849)	(8,081)	(6,792)	(707,722)
Funds brought forward at31"August 2021			9,286,818	25,343	84,819	9,396,980
Funds carried forward
at 31"August 2022			8,593,969	17,262	78,027	8,689258