2023-08-31-accounts - Coventry School Foundation

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Contents			Pages
Report ofthe Charity	Trustee (Governors'	Report)	1to 17
Independent Auditor's	Report to the Governors		18to 21
Statement of Financial	Activities		22
Balance Sheet			23
Cash Flow Statement			24
Notes to the Financial	Statements		25to 39

Charity	Coventry School	Foundation
Address	Kenilworth Road
	Coventry
	CV3 6PT
Governors	Mr S Booth	Appointed 23 June 2023	Coventry	University
	Mrs J Butler		Church Charities
	Mrs D Carr	Appointed 21 September 2023	Bablake	Parents'		Association
	Ms R Drinkwater		Sir Thomas White's Charity
	Prof I Dunn	Chair of Governors	Co-opted
	Mrs M Gawthorpe		King Henry		Vill		Parent's
			Association
	Mrs SGuest	Resigned 5 September 2022	Bablake	Parent's		Association
	Mr R Hall	Resigned 5June 2023	Church Charities
	Mr P Healy		Co-opted
	Rev Dr C Hicks		Co-opted
	Ms D Kendall	Resigned 23June 2023	Coventry	University
	Mr D Kershaw	Appointed 23 June 2023	Church Charities
	Mr D Mackay	Vice - Chair	Co-opted
	Mrs E McCann		Co-opted
	Dr N Morris		University	of	Warwick
	Mr P Morris	Resigned 19October 2022	Co-opted
	Mr D Molyneux		Co-opted
	Mr A Prestwich		Co-opted
	Mr R Stuart	Resigned 30September 2022	Co-opted
Executive	Mr C Staley	Chief Executive Officer
	Mr C Little	Chief Operating Officer
	Ms KJennings	Director of People
	Mrs G Lovell	Director of Marketing 8 Admissions
	Mr A Wright	Head of Bablake Senior School
	Mr W Honey	Head of Bablake Junior School
	Mr P Dearden	Head of King Henry Vill Senior	School
	Mr J Holtby	Head of King Henry Vill Junior	School
	Mrs T Horton	Head of Pre-Prep

		Coventry School Foundation	Coventry School Foundation
		Report ofthe Charity Trustee
		(Governors' Report)
		Year Ended 31August 2023
Auditors:		Cooper Parry Group	Limited
		Sky View
		Argosy Road
		Castle Donington
		DE74 2SA
Bankers:		Lloyds TSBCorporate
		125Colmore Row
		Birmingham
		Bj3SF
Solicitors:		Band Hatton Button LLP
		53-55 Butts Road
		Coventry
		CV1 3BH
		Wilsons Solicitors LLP
		Alexandra House
		StJohns Street
		Salisbury, SP1 2SB
Investments:		Quilter Cheviot
		7 Dominus Way
		Leicester
		LE191RP
Insurance	Brokers:	Hettle Andrews &Associates		Limited
		Eleven Brindley Place
		2 Brunswick Square
		Birmingham B1 2LP

							Total	Total
				Unrestricted	Restricted	Endowment	Year Ended	Year Ended
				Funds	Funds	Funds	31.08.23	31.08.22
			Note	E	E	E	E
INCOME AND ENDOWMENTS		FROM:
Donations and legacies				743,579	127,500		871,079	660,468
Charitable activities				21,131,436			21,131,436	20,426,874
Other trading activities				418,762			418,762	338,019
Investment income				61,191	61,610	75,281	198,082	136,834
Other income				327,883	6		327,889	282,752
Total income and endowments				22,682,851	189,116	75,281	22,947,248	21,844,947
EXPENDITURE ON:
Raising and management	offunds				11,030	17,092	28,122	33,324
Charitable activities				24,676,735	12,297		24,689,032	24,290,792
Total expenditure				24,676,735	23,327	17,092	24,717,154	24,324,116
(DEFICIT)/SURPLUS FROM OPERATIONS				(1,993,884)	165,789	58,189	(1,769,906)	(2,479,169)
NET GAINS/(LOSSES)
Realised gains on investments					95,854	175,242	271,096	42,572
Unrealised (losses)/ gains	on investments				(145,818)	(180,698)	(326,516)	(265,993)
					(49,964)	(5,456)	(55,420)	(223,421)
NET INCOME/(EXPENDITURE)				(1,993,884)	115,825	52,733	(1,825,326)	(2,702,590)
Transfers between funds			&4,ts	194,907	(27,166)	(167,741)
NET MOVEMENT IN FUNDS				(1,798,977)	88,659	(115,008)	(1,825,326)	(2,702,590)
FUND BALANCES AS AT	1 SEPTEMBER 2022			14,795,796	2,626,658	3,355,056	20,777,510	23,480,100
FUND BALANCES AS AT	31 AUGUST		2023	12,996,819	2,715,317	3,240,048	18,952,184	20,777,510

					2023f	2023	2022	2022
				Note
FIXEDASSETS
Tangible assets				9		18,028,263		18,751,087
Investments				10		4,498,721		4,582,263
						22,526,984		23,333,350
CURRENT ASSETS
Debtors					696,600		473,269
					696,600		473,269
CREDITORS:	AMOUNTS	FALLING DUE
WITHIN ONE	YEAR
Bank overdraft	and loans				719,800		79,970
Other					3,264,174		2,949,139
				12	3,983,974		3,029,109
NET CURRENT LIABILITIES						(3,287,374)		(2,555,840)
TOTAL ASSETS LESSCURRENT LIABILITIES						19,239,610		20,777,510
CREDITORS:	AMOUNTS	FALLING DUE
AFTER ONE YEAR
Other				13		(287,426)
NET ASSETS				17		18,952,184		20,777,510
PERMANENT	ENDOWMENT		FUNDS			2,540,048		2,555,056
ENDOWMENT	REPLACEMENT					700,000		800,000
				14		3,240,048		3,355,056
RESTRICTED	FUNDS			15		2,715,317		2,626,658
UNRESTRICTED FUNDS				16		12,996,819		14,795,796
TOTAL CHARITY FUNDS						18,952,184		20,777,510

			Year	Year
			Ended	Ended
			31.08.23	31.08.22
	Note
CASH FLOW FROM OPERATING ACTIVITIES			(362,664)	(979,280)
NET CASH OUTFLOW FROM OPERATING ACTIVITIES			~362,664	(979,260)
CASH FLOW FROM INVESTING ACTIVITIES
Purchase oftangible fixed assets			(305,288)	(135,957)
Purchase of investments			(1,213,076)	(921,017)
Sale of investments			1,241,198	955,114
NET CASH OUTFLOW FROM INVESTING ACTIVITIES			(277,166)	(101,860)
NET (DECREASE) IN CASH AND CASH EQUIVALENTS			(639,830)	(1,081,140)
CASH AND CASH EQUIVALENTS AT 1 SEPTEMBER 2022			(79,970)	1,001,170
CASH AND CASH EQUIVALENTS AT 31 AUGUST 2023			~719,800	(79,970)
CASH AND CASH EQUIVALENTS CONSISTS OF:
	As	at	Cash	As at
	01.09.22		flows	31.08.23
		F		E
Bank overdraft and loans	~79,970 ~79,970		~639,630 ~639,630	~719,800 ~719,800

Donations	and legaci	es
			Year to	Year to
			31.08.23	31.08.22
Donations			871,079	660,468
			871,079	660,468
Charitable	activities - Fees Receivable
			Year to	Year to
			31.08.23	31.08.22
Fees receivable comprise:
Gross fees			23,863,522	23,326,756
Less:	Bursary awards		(1,417,381)	(1,678,489)
	Scholarship	awards	(260,486)	(254,305)
	Staff fee remission		(1,007,834)	(926,979)
	Sibling discount		(46,385)	(40,109)
			21,131,436	20,426,874

							Year to	Year to
							31.08.23	31.08.22
All weather	pitch, pavilion,			other school facilities			418,762	338,019
							418,762	338,019
Investment		Income
							Year to	Year to
							31.08.23	31.08.22
Listed investments							136,891	136,834
Bank interest							61,191
							198,082	136,834
Income from		permanent	endowment		included	in above	75,281	72,352

Other Inc	ome
		Year to	Year to
		31.08.23	31.08.22
Income from school trips		100,492	124,771
Transport	income	87,188	106,888
Sundry income		140,209	51,093
		327,889	282,752

Analysis o	f To	tal Expendit	ure
							Year to	Year to
				Staff costs	Other costs	Depreciation	31.08.23	31.08.22
						E
Raising and management			offunds
Investment	management				28,122		28,122	33,324
Charitable	expenditure:
Teaching				14,642,035	1,342,985		15,985,020	16,372,605
Welfare				210,952	406,794		617,746	642,434
Premises				888,480	2,223,036	865,014	3,976,530	3,777,350
Support				1,510,641	1,052,793	163,098	2,726,532	2,005,433
Grants, awards		and prizes			9,527		9,527	5,998
Management	and administration			503,193	214,870		718,063	592,433
Finance and	other costs				655,614		655,614	894,539
				17,755,301	5,905,619	1,028,112	24,689,032	24,290,792
				17,755,301	5,933,741	1,028,112	24,717,154	24,324,116
Support costs
Staff costs							1,390,852	1,126,752
Office costs							141,971	105,138
Information	Technology						87,202	43,989
Recruitment	costs						110,270	128,401
Travel							1,914	7,062
Advertising	and	marketing					163,780	53,808
Depreciation							163,098	178,241
Other costs							491,697	284,865
Governance							175,748	77,177
							2,726,532	2,005,433
Governance costs
Staff costs							119,789	43,647
Support costs							55,959	33,530
							175,748	77,177

Analysis of Total Expend	iture (conrinuea)
Total resources expended	include:
		Year to	Year to
		31.08.23	31.08.22
Depreciation charges		1,028,112	1,039,918
Operating lease charges		247,948	258,351
Auditor's remuneration:
Audit services		29,700	23,500
Non-audit services			6000
Total staff costs:
Wages and salaries		13,637,989	13,194,882
Social security costs		1,414,747	1,357,994
Pension costs		2,486,188	2,478,896
Termination payments		216,377	306,433
		17,755,301	17,338,205

Year to	Year to
31.08.23	31.08.22

Comparatives for	the S	tatemen	t of Financial	Activitie	s - 31August 202	2
								Total
					Unrestricted	Restricted	Endowment	Year Ended
					Funds	Funds	Funds	31.08.22
						F	F
				Note
INCOME AND ENDOWMENTS			FROM:
Donations and legacies					660,468			660,468
Charitable activities					20,426,874			20,426,874
Other trading activities					338,019			338,019
Investment income						64,482	72,352	136,834
Other income					282,752			282,752
Total income and	endowments				21,708,113	64,482	72,352	21,844,947
EXPENDITURE ON:
Raising funds						13,325	19,999	33,324
Charitable activities					24,281,943	8,849		24,290,792
Total expenditure					24,281,943	22,174	19,999	24,324,116
(DEFICIT)ISURPLUS FROM OPERATIONS					(2,573,830)	42,308	52,353	(2,479,169)
Gains/(losses) on	investments
Realised gains/(losses) Unrealised gains/(losses)		on investments on investments				7,317 100,630	35,255 165,363	42,572 ~265,993
						(93,313)	(130,108)	(223,421)
NET (EXPENDITURE)I INCOME					(2,573,830)	(51,005)	(77,755)	(2,702,590)
Transfers between	funds				180,674		(180,674)
NET MOVEMENT	IN FUNDS				(2,393,156)	(51,005)	(258,429)	(2,702,590)
FUND BALANCES	AS AT 1 SEPTEMBER 2021				17,188,952	2,677,663	3,613,485	23,480,100
FUND BALANCES	AS AT 31 AUGUST 2022				14,795,796	2,626,658	3,355,056	20,777,510

Insured restatement values
Freehold and long leasehold properties follows:	owned	by the Foundation		have insured	reinstatement	values as	2023f
Bablake School - Coundon Road							61,125,085
King Henry Vill School - Warwick Road							63,837,786
King Henry Vill Preparatory School - Kenilworth		Road					9,809,937
Bablake Pre-Preparatory School - The	Grange						8,756,086
Playing fields and pavillions							3,610,478
							147,139,372
The above insured sums represent the	cost of	replacement	as new and exclude		land values.

				Listed
				investments
Valuation
At 1 September 2022				4,582,263
Additions				1,213,076
Disposals				(1,213,076)
Investment	management		fees	(28,122)
Realised gain/(loss)				271,096
Unrealised	gain/(loss)	on	revaluation	(326,516)
At 31 August 2023				4,498,721

	If the investmen amounts:	ts	had not been revalued, they would have been includ	ed on the historical cost basis at	the following
					Listed
					investments
	Cost
	At 31 August 2023				3,675,584
	At 31 August 2022				3,297,031
11	Debtors
				2023	2022
	Fees			132,443	158,917
	Bad debt provision			(123,936)	(61,334)
	Prepayments and accrued income			688,093	375,686
				696,600	473,269
12	Creditors: Amounts		Falling Due Within One Year
				2023	2022
	Bank overdraft			719,800	79,970
	Fees received	in advance		1,540,501	1,438,576
	Trade creditors			527,647	362,703
	Taxation and social		security	343,353	340,107
	Other creditors	and	accruals	852,673	807,753
				3,983,974	3,029,109
	Fees received	in advance		2023	2022
	Fees received	in advance at 1 September 2022		1,438,576	858,600
	Released from	previous years		(1,172,329)	(858,600)
	Deferred in the	year		1,274,254	1,438,576
	Fees received	in advance at 31 August 2023		1,540,501	1,438,576

Note for the current year	Note for the current year					Permanent
			Trust for	Unapplied	Endowment	Endowment
			Investment	Total Return	Replacement	Total 2023
			F	F	F	F
At 1 September	2022:
Gift component	ofthe permanent	endowment	2,022,407		800,000	2,822,407
Unapplied total	return			532,649		532,649
Total			2,022,407	532,649	800,000	3,355,056
Movements in	the year:
Investment return - net gains Losses on investments Total				58,189 ~5,455 52,733		58,189 ~5,455 52,733
Annual replacement transfer			100,000		(100,000)
Transfer between funds				12		12
Unapplied total	return allocated	to income		(167,753)		(167,753)
in the reporting	period
Net movements	in the year		100,000	(115,008)	(100,000)	(115,008)
At 31August 2023:
Gift component	ofthe permanent	endowment	2,122,407		700,000	2,822,407
Unapplied total	return			417,641		417,641
Total			2,122,407	417,641	700,000	3,240,048

Note for the pr	ior year					Permanent
			Trust for	Unapplied	Endowment	Endowment
			Investment	Total Return	Replacement	Total 2022
			E	E	E	F
At 1 September	2021:
Gift component	ofthe permanent	endowment	1,922,407		900,000	2,822,407
Unapplied total	return			791,078		791,078
Total			1,922,407	791,078	900,000	3,613,485
Movements in	the year:
Investment return - net gains				52,353		52,353
Losses on investments				(130,108)		(130,108)
Total				(77,755)		(77,755)
Annual replacement transfer			100,000		(100,000)
Transfer between funds
Unapplied total	return allocated	to income		(180,674)		(180,674)
in the reporting	period
Net movements	in the year		100,000	(258,429)	(100,000)	(258,429)
At 31August 2022:
Gift component	ofthe permanent	endowment	2,022,407		800,000	2,822,407
Unapplied total	return			532,649		532,649
Total			2,022,407	532,649	800,000	3,355,056

Restricted Funds
Note for the current year	Prizes	Bursaries	Pembroke	Coventry
	Fund	Fund	Fund	Concord
	F	F	E	F
At 1 September 2022	189,881	2,230,217	24,128	15,233
Incoming resources	4,786	56,824
Resources expended	(784)	(10,648)	(148)
Realised gains on investments	392	95,462
Unrealised (losses) on investments	(4,992)	(140,048)	(778)
Transfer between funds		(12)		22
At 31 August 2023	189,283	2,231,795	23,202	15,255
	KHVIII	Bablake	Other
	Capital Fund	Fund	Funds	Total 2023
	E	E	E	F
At 1 September 2022	150,401	16,798		2,626,658
Incoming resources	4	2	127,500	189,116
Resources expended	(8,849)		(2,898)	(23,327)
Realised gains on investments				95,854
Unrealised (losses) on investments				(145,818)
Transfer between funds	43,224	4,600	(75,000)	(27,166)
At 31 August 2023	184,780	21,400	49,602	2,715,317

Restricted Funds (continued)
Note for the prior year	Prizes	Bursaries	Pembroke	Coventry
	Fund	Fund	Fund	Concord
	F	k	F
At 1 September 2021	197,775	2,263,647	24,960	15,233
Incoming resources	3,989	60,579	(86)
Resources expended	(835)	(12,338)	(152)
Realised gains on investments	369	6,889	59
Unrealised (losses) on investments	(11,417)	(88,560)	(653)
At 31 August 2022	189,881	2,230,217	24,128	15,233
	KHVIII	Bablake	Other
	Capital Fund	Fund	Funds	Total 2022
	F	k	F	k
At 1 September 2021	159,250	16,798		2,677,663
Incoming resources				64,482
Resources expended	(8,849)			(22,174)
Realised gains on investments				7,317
Unrealised (losses) on investments				(100,630)
At 31 August 2022	150,401	16,798		2,626,658

Unrestricted Funds
				2023	2022
					F
At 1 September 2022				14,795,796	17,188,952
Incoming resources				22,682,851	21,708,113
Resources expended				(24,676,735)	(24,281,943)
Transfer between funds				27,154
Unapplied total return allocated	to income	in the reporting	period	167,753	180,674
At 31 August 2023				12,996,819	14,795,796

17	Analysis Of Net Assets B	Analysis Of Net Assets B	Analysis Of Net Assets B	etwe	en Funds
	Note for the current year
						Unrestricted	Restricted	Endowment
						funds	funds	funds	Total 2023
						E	E	F	E
	Tangible fixed assets					17,886,711	141,552		18,028,263
	Investments						1,741,450	2,757,271	4,498,721
	Current assets					491,064	5,536	200,000	696,600
	Current liabilities					(4,393,530)	826,779	(417,223)	(3,983,974)
	Long term liabilities					(287,426)			(287,426)
	Endowment Replacement					(700,000)		700,000
	Net assets					12,996,819	2,715,317	3,240,048	18,952,184
	Note for the prior	year
						Unrestricted	Restricted	Endowment
						funds	funds	funds	Total 2022
						F	F	F	F
	Tangible fixed assets					18,585,362	165,725		18,751,087
	Investments						1,802,456	2,779,807	4,582,263
	Current assets					373,269		100,000	473,269
	Current liabilities					(3,362,835)	658,477	(324,751)	(3,029,109)
	Endowment Replacement					(800,000)		800,000
	Net assets					14,795,796	2,626,658	3,355,056	20,777,510
18	Cash flow from	operating		activities
								Year to	Year to
								31.08.23	31.08.22
								F
	Net expenditure	for	the year					(1,825,326)	(2,702,590)
	Depreciation							1,028,112	1,039,918
	Net losses/ (gains) on investments							55,420	223,421
	(Increase)l decrease		in debtors					(223,331)	(360,544)
	Increase/ (decrease)		in creditors					602,461	820,515
	Net cash flow from operating				activities			362,664)	(979,280)