Ch•rlty R•gl•tratlon No. 528234 Company Regl$tratlon No. 01000027 (England and Walm) WELLOW HOUSE SCHOOL LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
WELLOW HOUSE SCHOOL LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trust9•8 R Statmfi¢ld P Du55 Ch*rfty numb•r 528234 Comp•ny numb•r 01000027 R•gl¥t•r•d offl¢e Wdlow HtyJs• Wdlthv Newark N¢thngham NG22 OEA Audltor BenUay• Accounting Llmll•d Suite 6. 1411143 Se4Jth Road H8yward8 Heath W•81 Su538X RH16 4LY
WELLOW HOUSE SCHOOL LIMITED CONTENTS P•g• Tr1, report Statemonl of tsuslo68' respolbillti.es Indendert auditof8 reFrt Ststom8nl olfinancid actr¥it¥ Balan¢• sht Notes lo the fin•nd*l 8tal•Mnt4 10-18
WELLOW HOUSE SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2022 The Iruslee8 Sent their Tewt and finanaal statements fty the yaw end•d 31 AU$l2022. The a¢UnIS have been Pped in accordan¢e ¥rith tr aceountsng Oicies 881 wt in note 110 the accounts and comply with the charity'5 artsdes, the Companies Act 20Cfj and'A¢counbng and Reporting by Charities.. Stslemenl of Recommend9¢ Practice appliCate to charities preparirwJ 'r account$ in xcordanc• wth the Financlal Reporting Standard app1cae in the LIK aNI Republi¢ of Irdand {FRS 102). amended for #¢COLming pen'od¥ c¢mm8ncing from l January 2016) ObJ•ctlvM Ind a¢tlvltl•$ Wellow House School kn"mrted is an independent Prepw81ory School located in its own grtyjnds of 21 4¢r•s in North Nottinghamshire. The School pmvidel ¢ducatsLM lo girfs t¥Jys bets%wn tho ages of 3 and 13 year• and i• open to applic4lion ty all mombers of the public. The Scho boasts an impressivg academic Cord #NI rt 1$ th• Sctrtt4'8 .l>paI obltctive to idents'fy and oI0P the talents and al.e3 of its to the highest possible level. 01 equal importance 18 the davalopmenl of the .r$41 qualth"e¥" of each pupil 80 that when Ihey eventLolly le• to move on to another $chool th•y are readY confidgnl, caring and r•sponblts Indiv118. In der lo achieve th•¥e Objectiv the tru$tee8 rg¢c¥ni8a the importance of provtding a Mfe •nd nurturfng vlronmenl al the School supwrted by 8 professicnal an11 molivaled team of teachw8 and othèr 8tsff mernb. For a Small lchool an extremely rnnge o13POrtJrrfJ and other r•)n academic actlviles are prowdad to wpS11. Addllionally the School Involves itsdf in rai$brffJ mc)i•8 a lde rnry allocal, naknal •nd int•maltond charfll•J In 1¢h rt8 puw"Is are lulty Imiofv8(1. Th8 School offers tsJr88rios Ic pupils for tAlb)m * Hou•e Solool •duGab"on ¥[d Mt otheThwse b• pou1•, ovaMbl• on a me3-t•lted basm. Tr truste•• hav? paKI du• regard to guidance issued by Chwity Commlsshx in d•clding acb'¥its'e$ charity ShjId undertake.
WELLOW HOUSE SCHOOL LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Flnanclal r•vl•w Du8 to th• now o¥mers the Sch&)I rernwns fm # wund ffin¥r b880 as all dehpits are b•lbVJ covered by tham vknilsl t trlId SchcKA for Ihe fure Atha becarne irwolved wrth the School for tho kng tenn ¥Alh W.1 numbers set to be at thetr highest le1 for number of years in September 2021. This is the deawl indicator tre School is now on tha upw81d trajectw and can put th•1881 fewdifficujl years behind them. Tr Sthjd NJ ha8 a 8tabl• co¥t bAse is setto rnap b8nafit8 movlng forward. It i¥ t policy of the charity that uniestrrcted tthich have not been dosignatsd for • Specific u4• Should b• m8inlain•d at 4 level fjquivalenl lo bethen three and six monlh'$ expenditur•. The tru81ou eM$idws that reserve$ at thi8 level wll ensurg that, in the •vent ol a $ignfficant drop In fijnding, they 11 be abl• lo continu• tha ¢harlty's cuirenl activibes wfr41é Colder8 1$ to way$ in addib.onal fijryls may be raised. Thi$ l•Y of resw•s has been malntaino4 throughoul thè year Th• tN$l•ts h88 888•M•d th• major ri8ks lo wthich the ¢hlty iq expo•ed. •rKI •re 8atified th•t iyit•mi ate In ploce lo mitigat• txpoiure lo the malor risk8. Plan• for futur• p•rl)d Th• Headteacher has been in post for a lew years and numbery4 have increas•d. The School is rK>W extending out lo Year 9 puw.ts from September 2021 vA)Ich will lurther ènhartce 11$ offon'ng 8nd 4ppeal lo th• markfjt. The kty aims for the next 12 months wll bo incroawng wpil num15 Ihrvughout lh• School jUring th• operational Ghang are fully MeMents tor b•n•fft of lh• 91n9 and ftrture W1#. Structur•, go¥ernanc• •nd m•na9•m•nt Wellow Housa School Limited 18 a reglstwed chanty {¢hnty no. S282341 and a limitod Icompany rK•. 1000027). The mem{vandLn and a.¢1¢¥ of as8o¢iation xt as tré Aovemlnq d¢¢ument of the companyl¢han"ty. Tho trwtO08. *ho 4r• 0180 th¢ th'rectorn Ihe ptsrFM• ofcompany law, •Thl tptho sorvgd thjrlng th? y83r an¢ up to tM date of signature olth• finanryal statements V&We." A Khan R Statter3ffeld P Bus5
WELLOW HOUSE SCHOOL LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Now InMtees are •pw'nted by and vnth the agreement of the conts'nuing trusloes in thth'r absolute discretion. Since incorporab"¢>n, no n¥w trwtee8 have been tak•n on. As • resulL there 1$ no in place wardng the induth.on and training of new tmslees. H¢). on Ihe appointment of nèw trustoès going lorward, 8uffityent policies arKt training procedu will be implemented in line wth reqremnIs. The r•mun•ration of key management p•rsonrl is t, wewod •rKI di8¢us8•d In detail by the dwnty tru¥tees. None of th8 trustees have any ben¢ficial ir)teresl in the o%npany Al of ltte truslths are momb8Tr of th• ¢omp8ny and guarydnl•e lo contribute £1 In the event of a winding up. Thg marHgement stwclure invdv•8 8 combination of cixnpany directors, Khool govemrs {811 paidl plu6 8enior managemont of the Sch4 led by the headmistr8$8 Gwmors formulate policy and stratsgy for the School th directors providing Iheir approval and Input regarding 811 major d8cl$ionB thcluding imwjrtantly financial decislons. The headmi5tres$ and Senior management t••m impl•ment th8¥9 poli¢y decAslon8 and run the day to day managem1 of Ihe lor 1¢h there is 8 ¥y8tsm of rogular r•vivws Jnd m¢Jnilorlng by 90vemors and ¢'ro¢tor5. A818 th• Ilandard almost all $cl)cds In England and Waleg it ij thè bogrd of govemoT8 of Ihe 8cho who take r•$wnsibility for risk management. that Is idenl'fication of areas of risk ihg ¢ontrol •nd [lnitOring pedUres. The govemors report re9ularfy to the directm sp•afic risks entified and th8 dlrecth ¢ary the annual rnviw oftho88 risk8 Th&rts is a Well11$hed sy818m for Identifying 8nd app)inb'ng new90r ptu• tho p•10n ofth• n8cw8ary IrKtuction on th• appoinlmorrt ol govemor. No pr•feronc• divldend$ were p•id. Th difector8 do not r•¢¢xnmand p4ym•nl of a flnal dividaro. Audttor Bentley$ Accounting Llmitod were appn aftfrr year end lo l(11 ¥ casual Po11¢ as Audrtorn lo company. a resolution pfow5ing ihat thay be r8-apwnt•d wll put lo the mtrrnt4¥8 The tsyst•es' rgp)rt was 8PPIOV8(I by Ihg Board of Truste•$. p eu88 Dated.. 26 May 2023
WELLOW HOUSE SCHOOL LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2022 The Irustees, who are also the directt¥s of Well¢yw House Schorj 'MIted for the wrpose of company law, are rèsponsible for preparing thè Trustees, Report and the fjnancial statements in a¢ccdance appIlble lthv arJ Unit•d lQngdw Accounting Sl8ndords {Uniled "rrn Generalty pted Aecountin9 Practic81. Company Law requires the Iru$t•e8 to kytyare finano815tst•mwts foreach yearvthth give a tru¢ and fair VI of Ihe stste of affairs of the ¢hanty aTra of Ihe inccrfniro resoureès •NJ appb'cab"on of re80ur¢e$, including the income #nd gxpeThliture. of Ihe charitable company for thal year. In prepanng th••e financial statsments, the truste88 I required to. - 8ele¢t iurtablg afxounb'ng FdtleB then apF4y them consislenlly: - obswe th• nwtlx>d• •nd nCipleS in th• Chanlies SORP: . make Ints ar e¥t6mal•$ that arn rea8orthl• •id pnOftt.. and - pr8pare finanGi41 statements on lh• going eon¢em bo81$ rt is inapprqyiate to presume that tho charfty will conts'nu• In owrntion. The Iru8teès Are resp11t40 for e•ping adequato attounts'w recwds that diKlos& wth rèason88 ¢lacY 91 aty 'me tho financi posibon of the ¢h8nty and enalje them lo ensufe th the fin8n&al statements cpty the Componles Act 21)J6 They are al responsie for safeguarding th• 8188ts of thè charity and hlnce for taking reable $tops lor the prevenbon •nd d&tKts"on olfr81 and Olhor lTh•gulantl.
WELLOW HOUSE SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WELLOW HOUSE SCHOOL LIMITED Oplnlon We have audited the financial st8lements ofwellow House Schtsjl Lirnited Ithe'chanty'l fr)r the year en¢Jed 31 Augu3t 2022 which Mpn$e the stslement ol financial at"tIes, balance Sh ar thè note3 lo the finencial 8tat¢ments. including a summary ol significant accounb.ng policies Th8 financiJ reporbng frame¢ that has ba•n applied in thèir prnparatson is applicable law and United Kingtrjm Accounting Standards. irKluding Financjal Repolbng Standard 102 The Finan¢Jal Rep¢ybng Stsndard appli¢e in the UK and Republic of Ireland {Unit8d Kingdom Generally Accepied A¢counts'ng Practs'ce). In our opinion, the finalKi 8tst•ments'. give a true and fairviewofthe 81at8 ofthe charitsble componls affair5 as al 31 Augusl 2022 And ofrts Incoming resourc8S and applieats.on of re$owce8, for the year then ended,. have b•en p?Y prepared in accwlance wth United 1vJdOrn Gan•rally l£¢ept8d Accounting Practs"c•'. and h¥ve b•en Preparnd in aCcordce Vlilh th• requirwnents ol th• Compare$ Act 2CrfJ6. Ba¥1• lor oplnlon We con<lucled our audh In 4¢cordance tmth Inlernai¢Jn St4ndards on Audlting IUK) IISAB IUKII •nd applicabl• l•w. Our re8ponsibilito9 und•r those stsndards are fvrther d8scrit4d In the Auditor8 responsibili11o$ lor Ihe aLth¥il ol tha g¢counl8 $•¢ti( ol our wport. W8 are independent of Ihe ¢harity in wth the •lhical requirnment8 that are relevant lo our audit of the a¢¢ounts in tho UK, inclu(Jing the FRC'$ Ethical Standwd. and we ha fulfilled our other ethical responsibilities in accordance requirernents. IA béli••• th•t the audrt •VKlonc• hav• obtained 1$ iuffirierrt fjntj apprcprf8t• lo wovKle ? basis for our op.nion Emphash of m•tt•r In fomiing our oplnion on the financkql 8tat•ment8 ¥4WJ considgred the ad#qua olthe dlsclosures made In note 1 warding Going Conc1 In view olfhis urtaInty we con•id•r that rt thould h dfawn to yo(tr attent bul our opinion is not qualified In ffjspect of this Conclu8lon• relatjng to golng con¢•m We have nothing to rewrt in respect of the fdlo¥Ang rnattors in rd¥tw)n to vthich lh• ISA8 IUKI r•quir8 UB to rwrt io you where. Ihe trustees. use of th6 going concem basis of accInting in wepar•b"on of tho finawal 8taternent8 18 not appropriat&. or the Iruslees have not dis¢losed In the financial statemonl$ any Identified material un¢ertainb"es that may cast significant doubl aboui the charity's ability to CLN)tinu¢ to •dopt th• going Contem basi8 Of •c¢ounting for a peritra of at lea$1 twelve monihs Ihe date Wh th• financial statemènts are authon"$g0 for i85U•. othgr Informatjon The trustees are responble Icf the oth&r inlormabon. The othei inforMatn compri8es the infomi8tson includgd in th4 annual report. Olher than financial statements •nd our auditols reiM)rt thereon. Our opinion on the financial statements dog$ not cover the ¢Xher infomation and we do not express any fom of assurance condusion thereon. In conrttts'on our wlil of the finanual statements. OUT respM•ibÈlty is to read the othw infomation 8nd. in dotng so. nSider whether the thr infrnon is materialty incowstent wth ttle fin8n¢1 slatemont5 or our knovAedge obtained In the audit or Ot"$ appears to materialty misstated If we identify such material incc)sistencies or apparent material misstatements v are requiryl lo detamiine wheth8r tha t5 a material misstatement in the financial Statements or a maten¥l mLsststement of other Irrfom)*on. If. based on thè wo we have perfonned. conclude that there is A matend misslaternt of this other Information, ara required to fa W• have ncthing to rept in this reganl.
WELLOW HOUSE SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WELLOW HOUSE SCHOOL LIMITED Mattora on whkh w¢ Ire rnqulred to report ty exc•ptlon We have nothing to In respect ofthe fdlw.ry matters in rnlalion towt¥th thè CharTtses IN£¢ounts arKI Reports) Regulations 2008 requir• us to report to you rf, in our opinion.. th• infonn8lion given in th¢ finanaal ¥tatgments is irKon8islent in any materral wpectwth the trustee$. [th,. or the ffinancial statemgnts are not In agrment the accwnting records.. or we have not received all Ihe Infomatson and explanatsons wa require for ow audit. Responslbllltl• ol tst0+S As explained more fvlly In th• $latem•nl of InJ$lees' respon8ibil.0$, the trustees, are also the dire¢tor8 of the charity for the puiwse ol company law, are rèsponsible for th• preparation of the fin•ncial statements And lor being Salsfied that Ih•y give a true and fair view. and lor such Intemal control •s the trL181ees delemiine 18 necessary to •nable the prepaor1 offinancial $latem•nts that are fre8 frtyn matenal misstatemont, therdue to fraud or error. In pr•p8ring the firrandal statements, Ihe trust wè r•8[nSIbl8 for •11•81ing th• dMrity'8 ability to continue a8 8 going ¢oncem, di%lo$in9, as applicable. matter8 related to going concem •nd using the gn9 ¢oncem basis of accounb'ng unlevd trustees either intend to liqui¢Jate the ch8n"tabl& company or to cw• cwab'ijni, or have no reali8t'¢ 4ltemative but to do •0. Audltorf• mpon8lbllltlM for th• •udlt of th• finn¢lal itat•monts We have been 8ppJinled as auditors under 8eCtion 144 of the Chwitw 2011 and r•port in 4¢cordan¢e vlth th• A¢1 and rdevanl rogulalion$ m8de or having eff1 Ihereundw. Our obJective# are to obtsin reasonable assurance ab)ut wh8th•r Ihe financial statam&nts a8 a %thol• are fw from maledal mi8Jtatemnl, whether due to fraud of error. an(1 lo issue an aLthaitof$ reFort th41 in¢ludo8 our ownicn. The ext8nl lo which our prtscodurets arn wable ol detecting irr•gLane8. irKlvding fr8LJ Is aalled as t1¥$ 'Obtaln an understanding ol Ihe legal and regulatory framework and companies poli¢ios and k¥ocedures on frau(i aryl risk., DIscu55ing among the directors whefo fraud may and potenbal Indic•tors ol fr•ud. A fvrther deS¢pIl0n of our responsib'lilres lor tho auth't of the financl81 staternents 18 located on the Fingncial RewtiThJ Council's website al. htlp.IfvAW frc.L¥g.uklauditmrespowtslities. Th18 descripb'on fc*ms part ol our auditofs r•port.
WELLOW HOUSE SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WELLOW HOUSE SCHOOL LIMrrED U$• ol our rèport This r•port is made solely lo the charity's trustees, as a body. In accordance part 4 of the Charities IAc¢ounts and Reports) Regulats'on8 2008 Our audit th has bean undertaken so that we might state to the charfty's trustee8 those matters we are required to slate lo them in an auditors. port and for no other purpose. To the fullest èxtent perrnitte(I by law, we do not apt orassume p)nSibIlity to anyone otherthan the ch4nty •rwJ th•¢harity'8 tw6ts•1 as a l>Jdy, for cur audit Wofk. for this repart. OT lor the opinions we have formod. St•v•n Rlchard Bant1 IS•nlor Statutory Audllor) B•ntl•ys Accounting Umlt8d 28th May 2023 Certlllod A¢countsnts Suite 6. 1411143 South Road Haywards Heath West Sussex RH164LY 8gnUey8 A£counJn9 Llmitgd 18 eligibl• for apwntm•tt audrtor of tho chanty by Mrtue of tt8 eligibility for app.nIM•nI as gLKlltor ol a company underof 8tt1ion 1212 01 h Ccrtnpanies kt 2t))8
WELLOW HOUSE SCHOOL LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022 2022 2021 Donat'on$ Olhef income S¢hod fe•s 1,564,907 1.113,939 Total Incom• 1,564.907 1,113.939 Dirocl charitable expenditure Fundraising and publi¢ity 1.462,1CIS 1,179.279 Totsl charftabh •¥p•ndlturn 1.482.108 1,179,279 Net In¢orn• for the y•arf Not mov•m•nt In funds 102,801 185,340) Fund balan$ 811 Sgpt•mLr 2021 (775,0941 (109,7541 Fund b•l•nc•• It 31 August 2022 {672,2931 (T75,0941 Tho •tatsmént of fin4nci•l xb"¥'I irdL#des •ll gain8 and lo¥¥e8 rec¢ynlsed in tm ye¥. The 8talern•nl ol financi814th'viti•s also ¢omplie¥ wth t requirements for an intsjme and •xp8ndrtura account Under1 Compani•• Act 20C6
WELLOW HOUSE SCHOOL LIMITED BALANCE SHEET AS A T31 AUGUST2022 2022 2021 Not•¥ Flx•d Tangible assets Current t> Debtors Cash at bank and In hand 509.103 429,077 658.248 14,832 3,972 658.248 Cr9dltorn: amounts fvlllng due wlthln ono year 18,804 10 {693,427) {1,222.9751 Net rJJrrant li•biliti•8 135,1791 11,204,171) Totsl •8••ts1•99 curr•nt Ilabllltl 473,924 775,094 Cr•dltorn.' arnount8 hlllng due aft•r mor• thin on• y••r 11 (1.146,21 n N•1 •¥••tsllll•bllltJul 1872.293) (775,0941 Incom• funds Restricted fijnds VnmtrfCd fund¥ 25.000 {897,2931 25,000 1800,0941 {872.293} (775.094) Th• ¢cmpany 1$ entitled to the txemption frryn tho au(knl reqUireMt ¢tyrtained In Sealon 477 of the CcmpaTha8 Act 20C6. for the year endod 31 August 2020. ¥rthrwJgh an audit has been rried out urKlef secb'on 144 of the Charflies Act 2011 No memb8f ol the company has dewJsi¢ed a nob"ce, purnuant to M¢tyon 476. r•qwnng an audit of these finandal 8talements under the r8quifftments of the Cc4npanies Act 2006 Tha trustees acknowledge their re8wnslbd1ti for ensurir¥J Ih)t the charfty keepB accounts'ng records thich eompty th seth'on 386 ofthe Act and for prepann9 financial statements which give a tru¢ and fair view ofthtr state ofaffairs olthe company as atthe end ofthe finanual yearand of its incoming sCAjrCes and apF4icabon ofresources, irduding its incorng and expenditu. for the fin8nual ye8r In accordanGe wth th6 ffjquirements of sethions 394 and 395 and which otharwse comply with rnquiremants ot the Compwi•8 kt rdaling to finarKial itatem•nts. $0 far as •pplicable to the company. These financial statsments have been w¢pared in a¢¢tydance ith the provi1$ applicatrle to Compan sub to Ihe small companies regime. Th& Accwnts *ve apwoved by Ihe Trustees on W klgy 2023 P Buss TNst•• Company Reg151rallon 011N10027
WELLOW HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2022 Accountlng polkl Chaty Infom)atlon Wellow House School Limrted Is a private company Irmited by guarantee incofjmjrated in Englar¥J gnd Wales. The rngi$tered offio ts lI(Al Hous8, Nwark, Nottingham, NG22 OEA. 1.1 A¢¢ountlng Gonvontlon The accounts have been prepared in accoftlarKe V•th the chariis AJdes olA88ociatM. thè Companies Act 2006 and.A¢Clnting and Reportj'ng by Chartt60s Statement of Recommended Pra¢tice applicable to charitiès Pparing th8ir¥ccounts in accordanc8¥th Ihe Finan¢i8t Reporting Standard applicable in the LIK and Republi¢ of Ireland IFRS 102)'188 amended for a¢¢ounting penods commoncing from 1 January 20161. The ¢harity is Public Benefit Entity 88 d8fined by FRS 102. The tharfty has tsken advantage of I prow•ion$ in the SORP for •pplying FRS 102 uJat¢ BL41•lin 1 not lo prepare a Statement of Cash Th• ffinawal 81alemerth 8f8 k)repared in sterfing. whith is the fijndOr Cuffcy of the charfty. Monetsry 8mount8 in Ihgw financial stètemenls are rounded lo Ihe nearest £. Tho flnencial 8¢ol•menls h•ve been prepored urthr the hist1¢81 c1 eonvenlion. modlfl8d lo Indude the re¥Jluatson of hehold kyopertses and lo Include It)ve5tment pro.8$ and certain financial instruments al falr v4lu•. Th• pnncipal x¢ounbNJ WKae8 adopt•d arg sat bel¢Mf. 1.2 Golng conc•rn Alpha S¢hools and it's Directtys have Ind¢atod their Intont to support the s¢hool finanrAally for al lea8112 months followThJ the approval of the financi 81atements. pha School8 h•v• a Pu•tory ol utilising th•ir expertisg wthin the market. retuming a financialty struggling school to a surp1. 1.3 Ch#rltsbl• funds Unreslncted funds arn ailable for us• at the discrellon of tN$lg9s In furtherorK8 ol thetr charflable objectiv8$ unles6 the funds been dewgnated for olher purposes. Unwtricled fvnds we fvTrJs which a avgil¥bl& for use at th• discreiion ol the trusiees in fvrthera• of thé genèml objeclive8 ofthe chanty and vthich have not de5tqnated for other purwses. Reslricled funds are fvnds which are lo b8 used in accord•r vthh specific restr¢tw imposed by donors or ich have bÈen raised tyythe charityforportkular puryw. The costs ofraising arwj administering such funds are charge(J against the SFcrfi¢ fund. En(>J•nnentfurKIs atsUbjecttO 8pecffi¢ cornthlions bydorKxsthatthecapta must be mainkined tythe chanty. 1.4 Incoming rosourcg8 Inmme is tecognised vthen the charity is legally entitied to rt after any performance ¢y)ndthons have been met. the amounts can te measured lIally. and it 1$ prc4)able that income wll be re.
WELLOW HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Ca¥h donations are recognised on 01pt Other donth"LM¥ ore reeegnisod Mce the charity hoa been notified ol the donation, unless performance condits"on$ require defeffal of the amounl. Income tax reverable in rdation Ic donab.ons recaved under Gift or deeds of covgn8nt Is r•coiini8•J at ts ts.me of the thation. L•gacies are recognise(l on reIpt or otherwse if th• ¢hwity ha$ been nthfied ol an imF4ndiThJ distribution. the amount is known, and ieceipt 15 expected. If the amoJnl is not known. thelogacy 18 treated as • contingent asset. Tumover IB moa8ured at the fair valu• of ¢onsidwati¢)n rgc•Ned or Nabl and r8pTesont8 amount• receivable for g¢od8 and servictt prNded in Ihe nomal courv of busine88, net of discounts, VAT ¥n¢J olhor sales lated taxes. 1.6 Tanglbl? flxgd assets Tangible fixed asset$ are inrtlty m•••ured at cwl and 8tuentty measured at cost or vatuoocn, not ol deVeecfj and any imprnienl lo•i•s. D•pfeciab'on is r¢¢cgnisod a• to write off the 8t orvaluab"¢)n ofas8ets le$8 thèir rgsidual v4luei ov•rlh•Sr U8•fiJl live8 on thè folItyn9 ba8M.' Land ar#J bulldings Fixtuw. fitb'r¥J$ & equlpmont Motor vehi¢les 2 - itr•'ghl lin 10- 33% straight li 20% 8traW "no The gain or1088 a81ng on the diswjsal of an 8s68t is determined a5 tho drfferenco beknn •al• wo¢oed8 and the carrying value of the asset. and is recc¥niwl sn net Incom&{expendllurnl for the •r. 1.6 Impalrni•nt of Ilxfrd aM•ts Al each reports'ng end dale, the chanty revim Ihe calrIa amounts ofits tanble assets to delermln• whèther there is any indication that those assets have Suffered an impairment loss. If any such Indits0n exi81s, th• r•cover8ble amount of th• asset e$tsmalad In order to <t8mwne lh8 extent olth• impaim¢nt lom (Ifanyl Intangible assets indefinits usefvl lives and Intsngible assets not yel available for use are tested for impalmenl annually. and wherEver there is an indicalron that the 853et may be impwred. 1.7 C••h 4nd cash •qulvalents Cash and ¢ash equivalents indude cash in hand. dep)sits held at call wth b8nk8, oth•r 8t¥)rt-term liquid Invesiments wth onginal rnaturities of thw rnth5 ty less. ¥J overdraft8 Bank overdraft$ are shwi within bOrrOn9$ in Cufnt Ivabilibes. 1.8 Flnanclal Instruments The chanty has elected lo appty the pro510n8 of Secbon 11 'B0C F#al Irt6tnmients' and Section 12 'Othef Finar18 Instruments Issues. of FRS 102 to all ol rts financ instNments. Financial instrum¢nts are recogni$ed In the chaW$ bar sl8t %then the charity becom•s paty lo the contraciual provisions of the instrument Finano¥l assèts and Irabililies are offset. wtlh the net •M¢Xts nted in Ihe finanual statements. vthen there is a legally enforcoable right to sèt off the rw)ised amounts and there 1$ an intenb.on to settle on a net basis or to reglise th• asset sew the liats.bty SmultanSly.
WELLOW HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Basle flnan¢l•l assets Basic fingncial assets. vh)ith include deblow3 and cash aThJ bank balances, are Initjally m•a$ured ai transaction price in¢luding transath.on costs and am SLtbsewenUy carried at arnortlsed cost using the effe¢trve irterest method unless Ihe arrangement con$blutes a financing Iransacb'on, Whe the transaction Is measured atthe present value ofthe luture recapts tJ15counled ata mark•t rate ofinlere81. FinwKial a68et$ da88ifi•d as re¢eivable thin one year are not amortisgd. B•slc fin•n¢l•l Il•blllll•s Bastc financial liabilrties, irluding credrtor5 and bank loans are initially recognised al transaCon 7C8 unles$ the arrarrfJernent conslrtutgs a financing transathon. •10 the d8bt in¥lrum•nl Is rnea$Ud at the presenl value of the ftrture payments discounted at a market rate of interest Financial liabilibes ¢la85ified a8 payable vthhin one year are not amOr"sed. D•bt In8lrum•nl8 are 8ubseoLthIUv CWTied at amotts"8tsd cost. USI the effecb.ve Interest ral8 molhcé. D•rn¢oynidon of Iln•ncl•l Il•lJlll Fbnancial ligbilities ar• derecogn15ed wh•n the charitys cOrtractU obliggb"on8 explre or ar• di•charg•d or ¢•nco11ad. 1.9 Émploy•0 ben•fll Th• c08t of any unuBed holiday onts"Uemenl is r•th3rllsad in thè pwi¢xl In wh'ch Ihe employ8•'8 8aNI 8fv received. Teminats'on befitS a recognised immediately as w wense when the ch•rity is demonstrably committa(I lo terninato the emplovment of an emoloye• ty lo prowde termjnab'on btsnefits. 1.10 R•tlr•rn•nt b•nefft• Tho ¢h¥nty 0rateS a defined contnbulions penwon schm• ty) behalf of •mF4oyo88 not qualin9 for th• T¢achers' P•nsion S¢h¢me. Conln"bution8 art charged In the accounts 88 they b•¢om• payable In accordance wth the nJl•s ol the sch•me Oth•v In¢om• Total 2022 Total 2021 Furfough Income 12-
2WELLOW HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 School fe 1022 2021 F•e8 PuF41 support Other incc¥ne 1,384,114 100.973 79.820 1,035.226 39,895 38.818 I,$64,7 1.113.939 Charll•bl• •ctlvltl Olr•ctFundrnl8lng chafltsbl• and •xpfrndltur• publl¢lty Tot1 2022 Tot•1 2021 Staff co¥ts D•preCIati and imp•lThn•nl Food and proviwon8 Maintenance In8urnn Ub'lth'ej Hgad Offlce costs Audit Ttsaching and resources Motor arKI trav Olher interest IT Costs Bad debts Sub8cnption Professional fees Other chantable expendrture 1.rth.687 8.113 33.184 21.879 32.614 81,695 93.485 1.086.867 8.113 33,164 21,879 32,614 81.695 93,485 2,000 89,788 635 5,914 10.607 19 338 4,605 30,583 904.048 8.110 23,638 54,191 28,017 45,$58 2.000 49.328 478 4.337 18.005 69,788 835 5.914 10,607 19 338 3.072 8.556 29.943 30.583 1.462.106 1,462,1( 1,179,279 1,462.1Ch3 1.462.fr 1.179.279 Trust 13-
WELLOW HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 EmpJoy•o Nwmb•r of •mployoeB Tho average monthty numtjer wnployws during the yearyds.. 2022 NuMr 2021 Number Teachlng staff Support staff Trustees 25 16 17 10 30 Employm•nt co•t 2022 2021 ages and 8alane8 Social Secunty cosls Other pènBion costs 972.537 76,449 17,681 815,259 63.000 25,787 1,C66.667 904,048 The number of •mployeos •nnual remUnW' w48 £80.000 or more warg.. 2022 Mumb•r 2021 Number £80,CK)1 . £70.0 R•dundancy and •xratba paYnnIS There We rto rtdundkncy costs in this ye•r or thc Pri year. 14
WELLOW HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Tanglble Flx•d Ass•ts Land & 8ulld5ng$ Flxlures, Motor Fittlngs & Vehlcl Equlpm•nt Total Cost Al I Seplembef 2021 Additions 1.824.132 85,715 329.775 2,424 29.175 2,183.082 88,139 Al 31 August 2022 1.909.847 332.199 29.175 2.271,221 D•pr•cl•tlon and Impalrnwnt At 1 September 2021 Depreciabon charged in ¢h• ye4r 1.418,005 2,338 306.825 29,175 1,754.005 8.113 5,775 At 31 Augug12022 1.420,343 312.$00 29.175 1,782,118 Carrylng Amount At 31 Aug1 2022 489.$04 19.599 509.103 At 31 August 2021 406,127 22.950 429,077 D•btorn Amounts falllno due wlthln on• vear. Trade debtors PreDavments 8nd accrue¢l income 2022 2021 633.736 24 512 8.010 8.822 658.248 14.832 10 Credttors: amounts falllna due ¥Athith one 2022 2021 Bank overdrafts Other taxation and 8wal secuntv Oefarr¢d inc(*ne TTrde credito Other creditotS cru818 36.320 31.TT9 69.489 10.563 51.9 1.1188.740 2.178 79.576 545.752 693.427 1.222.975 -15
WELLOW HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 11 Credltors: aMOnts falllng du• aftw mor• than an• y•av 2022 2021 Othw Cr•ditor8 1,146.217 12 O•l•tred Incom• 2022 2021 Arf8lng from pr•pwd school fvs 10,583 13 R•latèd party tr•n•actlon• The school hos been Supwxtcd through a Relat¢d Paty. The three Govemorsrun separate Corpor¢$rOUp50f PriVll¢ school groups and these companies have b¢¢n financing Wellow IIou5c School 31.08.2022 These loans ar¢ now deern du¢ over one yur85 follows Alpha Schools (Holdings) l.imited £ 1,042.035 (2021 £ 816,253). SharraIds S¢hotsl Ltd £ 54.182 (2021 £54.182). Sa¢kville School £ S0.1)fA) (2021 £ 50.000} Totslling £ 1,146,217 {2021 £ 920.435 included within l yw other crediiors) Durin8 the poric41 Alpho Schtt*15 (Iloldin8s) Limiicd char8¢d a Hwl Otrice C05t of £ 93.485 (2021 £Nil) Th¢ Governors have an inre$l in the ¥¢ Corn1¢$ and Alpha khools (Holdin89) Lid has a charge over the property held within this charity -16