|Contents|||Page|
|---|---|---|---|
|Directors, Officers and|Administrative|Details||
|Directors'<br>Report|||2-14|
|Independent<br>Auditor's|Report||15-18|
|Statement<br>of Financial|Activities||19|
|Balance Sheet|||20|
|Cash Flow Statement|||21|
|Notes to the Financial|Statements||22-37|





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|Governing<br>Body||||||||||
|---|---|---|---|---|---|---|---|---|---|
|The Directors,<br>who are also the Charity||trustees,||constitute<br>the Governing||Body|and are elected|by the Governing|Body,|
|except that two Directors shall|be nominated||by the|MMT ifthe total|number|does not exceed 12,three ifthe number exceeds||||
|12but does not exceed 18, and four ifthe number exceeds 18.||||||||||
|The Directors ofthe company|during the|year to 31 August 2021 were as follows:||||||||
|Dame Francine<br>Holroyd||||||||||
|Mr M. Abraham<br>B Ed (Hons)|||||(appointed||16March 2021)|||
|Reverend C. Balding BEng (Hons) BA (Hons)|||||(appointed||16March 2021)|||
|Mr G. Bowring<br>DL MA||||||||||
|Reverend<br>A. Chesworth||||||||||
|Mrs S.Clark LLB CTA||||||||||
|Mrs J.Crossley B.Ed|||||(resigned 2 December 2020)|||||
|Mr M. Gardiner BSc||||||||||
|MrJ.Garnett BScHons MRICS|||||(resigned||3February 2022)|||
|Mrs L. Gray Cert. Ed MA|||||(appointed||16March 2021;|resigned 4 June|2021)|
|Mrs S.Hooper<br>MA B.Ed (Hons)||||||||||
|Ms S.Jackson MA||||||||||
|Mrs N. Loudon BA FCSI|||||(resigned||17January 2022)|||
|Mrs S.Papworth BA(Hans) Oxon ACIB||||||||||
|Mr D. Payne BSc(Hons) FCA||||||||||
|Mrs L. Renwick B.Ed NPQH||||||||||
|Mrs J.Roe BSc(Hons)||||||||||
|MrJ.Skinner ACIS ACIB||||||||||



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|||||2021|2021|2021|2020|
|---|---|---|---|---|---|---|---|
|||||General|Restricted|Total|Total|
|||||Funds<br>f|Fundsf|||
|INCOMING RESOURCES||||||||
|Income from charitable<br>activities||||||||
|School fees receivable|||2|7,070,682||7,070,682|6,918,075|
|Other educational<br>income||||288,474||288,474|292,856|
|Other ancillary<br>trading<br>income|||3|57,891||57,891|64,806|
|||||7,417,047||7,417,047|7,275,737|
|Incoming<br>resources<br>from generated||||||||
|funds||||||||
|Voluntary<br>income||||3,502|5,224|8,726|8,359|
|Activities for generating|funds|||41,129||41,129||
|Rents and school lets||||64,295||64,295|62,952|
|Investment<br>income||||6,922|3,765|10,687|23,180|
|Other incoming<br>resources||||73,020||73,020|178,966|
|Total incoming<br>resources||||7,605,915|8,989|7,614,904|7,549,194|
|RESOURCES EXPENDED||||||||
|Cost ofgenerating<br>funds||||37,956|2,565|40,521|41,480|
|Charitable<br>activities||||||||
|Provision ofeducation||||8,477,185||8,477,185|8,081,404|
|Total resources expended||||8,515,141|2,565|8,517,706|8,122,884|
|NET (OUTGOING)/INCOMING<br>BEFORE INVESTMENT GAINS||FUNDS||(909,226)|6,424|(902,802)|(573,690)|
|Gains/(losses)<br>on investments||||43,737|23,048|66,785|(7,280)|
|Transfer offunds||||50,000|(50,000)|||
|Net movement<br>in funds||||(815,489)|(20,528)|(836,017)|(580,970)|
|Funds brought<br>forward at 1|September|||6,685,740|464,194|7,149,934|7,730,904|
|Funds carried forward at|31August|||5,870,251|443,666|6,313,917|7,149,934|





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|||Notes|As at 31August 2021|As at 31 August 2020|
|---|---|---|---|---|
|Tangible fixed assets|||6,622,459|6,880,871|
|Investment<br>assets|||||
|Funds deposited||11||1,551,574|
|Investment<br>in subsidiary||12||2|
|||||1,551,576|
|Current assets|||||
|Stocks||13||23,290|
|Debtors||14|595,484|430,017|
|Cash<br>in hand|||2,961,906|879,405|
||||3,557,390|1,332,712|
|Creditors: amounts|falling due within one year|15|(3,576,164)|(2,480,051)|
|Net current liabilities|||(18,774)|(1,147,339)|
|Total assets less current liabilities|||6,603,687|7,28WUB|
|Creditors:<br>amounts|'falling due after more than one year|16|(289,770)|(135,174)|
|Net assets|||6,313,917|7,149,934|
|UNRESTRICTED FUNDS|||||
|General funds||17|5,870,251|6,685,740|
|RESTRICTED FUNDS||18|443,666|464,194|
|Total funds|||6,313,917|7,149,934|





||||||||Notes|2021|2020|
|---|---|---|---|---|---|---|---|---|---|
||||||||||E|
|Net cash inflow/(outflow)|from operating||activities||||21|527,679|(808,663)|
|Returns<br>on investments|and servicing of||finance|||||||
|Investment<br>income||||||||10,687|23,180|
|Interest paid||||||||(1,385)||
|Net cash inflow from returns on investments||||and servicing||offinance||9,302|23,180|
|Capital expenditure<br>and|financial|investment||||||||
|Purchase oftangible<br>fixed assets||||||||(72,839)|(352,787)|
|Disposal ofinvestments||||||||1,618,359|(19,246)|
|Net cash<br>inflow/(outflow)<br>investment|from|capital|expenditure||and|financial||1,545,520|(372,033)|
|Increase/(decrease)<br>in cash in the||year|||||22|2,082,501|(1,157,516)|





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|2|Fees||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2021|2020|
||||||||||F|E|
||Gross|school|fees||||||8,809,142|8,275,668|
||Less:|Scholarships,||bursaries,||allowances||and agent fees|(1,738,460)|(1,357,593)|
||||||||||7.070,682|6,918,075|
||The income from fees is||||all unrestricted||(2020: all unrestricted).||||
|3|Other income||||||||||
||||||||||2021|2020|
||||||||||E|E|
||Other|ancillary|trading||income:||||||
||Transport||to/from||School||||34,931|34,552|
||Uniform||||||||22,960|30,254|
||||||||||57,891|64,806|
||Activity|for generating|||funds:||||||
||Donation||from HLC (Properties)||||Ltd||41,129||
||||||||||41,129||
||Other income<br>is||all unrestricted|||(2020:|all unrestricted).||||
|4|Voluntary|income|||||||||



|4|Voluntary<br>i|ncome||||
|---|---|---|---|---|---|
|||||2021|2020|
|||||F|E|
||Donations|«nrestricted||9L0)||
||Donations|to the Small Hall Fund —restricted||4,167|3,235|
||Donations|to the Scholarship,|Bursary and Prize Fund —restricted|1,057|5,124|
|||||8,726|8,359|
|5|Investment|income||||
|||||2021|2020|
||||||E|
||Dividends|from investments|—unrestricted|6,788|16,418|
||Dividends|from investments|—restricted|3,765|6,762|
||Bank interest received —unrestricted|||134||
|||||10,687|23,180|





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|6|Other incoming<br>resources|||||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
||||||||E|
||Amounts<br>received<br>under the Coronavirus||Job Retention|Scheme -|unrestricted|67,795|173,755|
||Miscellaneous<br>income<br>—all|unrestricted||||5,225|5,211|
|||||||73,020|178,966|
|7|Analysis oftotal resources expended|||||||
||||Staff|Other||2021|2020|
||||costs|costs|Depreciation|Total|Total|
|||||E||F|E|
||Cost ofgenerating<br>funds|||||||
||Rental costs||12,247|||12,247|11,824|
||Finance costs comprising:|||||||
||Bank charges|||20,829||20,829|20,598|
||Investment<br>manager fees|||4,880||4,880|6,449|
||Investment<br>manager fees—<br>restricted|||2,565||2,565|2,609|
||||TZ,247||||41';%SU|
||Charitable'activities|||||||
||Provision<br>ofeducation|||||||
||Teaching|3,857,599||161,471||4,019,070|4,146,434|
||Welfare||693,701|702,571||1,396,272|1,271,966|
||Premises||176,304|1,418,089|331,251|1,925,644|1,659,965|
||Support costs||661,665|458,247||1,119,912|985,138|
||Governance<br>costs|||16,287||16,287|17,901|
|||5,389,269||2,756,665|331,251|8,477,185|8,081,404|
||Total resources expended|5,401,516||2,784,939|331,251|8,517,706|8,122,884|
|||||||2021|2020|
||||||||E|
||Charitable<br>activities<br>include:|||||||
||Depreciation<br>on owned|assets||||331,251|328,804|
||Operating<br>lease rentals|||||21,568|414,372|
||Governance costs include:|||||||
||Auditors'<br>remuneration|for:||||||
||Audit services, current year accounts|||||11,868|11,748|
||Audit seivices, other services|||||1,362|1,320|
|||||||13,230|13,068|





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|aff costs|||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
|Total staff|costs comprised:||||||
|Wages|and salaries||||4,328,474|4,320,817|
|Social|security costs||||388,508|392,254|
|Pensions<br>contributions|||||||
||Teachers'|Pension|||586,651|585,258|
||Pensions|Trust Growth|Plan||88,735|81,826|
||Pensions Trust Unitised||Ethical Plan||9,148|10,740|
||||||5,401,516|5,390,895|
|Aggregate|employee<br>benefits of key management|||personnel|436,282|549,249|



|The average|numbers<br>of|employees|in the year were:|in the year were:|2021|2020|
|---|---|---|---|---|---|---|
|Teaching|||||||
||Full time||||53|62|
||Part time||||66|54|
|Welfare|||||||
||Full time||||9|9|
||Part time||||31|29|
|Premises|||||||
||Full time||||||
||Part time||||||
|Support|||||||
||Full time||||15|13|
||Part time||||6|5|
||||||191|182|
|The number|ofemployees|whose emoluments||exceeded 260,000were:|2021|2020|
|f60,001|tof70,000||||||
|870,001|tof80,000||||||
|F80,001 tof90,000|||||||
|F90,001 tof100,000|||||||
|F120,001 to F130,000|||||||





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|ngible assets|||||||||
|---|---|---|---|---|---|---|---|---|
|||Freehold|Leasehold|Furniture,|Motor|Plant &|Computer|Total|
|||||fixtures &|vehicles|equipment|equipment||
|||||fittings|||||
|||||F|||||
|Cost<br>(or|frozen||||||||
|valuation*)<br>1 September|2020|3,501,786|6,697,394|979,113|259,087|1,204,345|294,043|12,935,768|
|Additions||0|9718|2,217|28,419|30,666|1,819|72,839|
|31 August 2021||3,501,786|6,707,112|981,330|287,506|1,235,011|295,862|13,008,607|
|Depreciation|||||||||
|1 September|2020|171,502|3,521,069|905,488|243,092|952,044|261,702|6,054,897|
|Charge for the year||28,089|182,541|23,423|18,102|60,474|18,622|331,251|
|31August 2021||199,591|3,703,610|928,911|261,194|1,012,518|280,324|6,386,148|
|Net Book Value|||||||||
|31 August 2021||3,302,195|3,003,502|52,419|26,312|222,493|15,538|6,622,459|
|||3330,284|3.176,325|73,625|15,995|252,301|32,341|6,880,871|



||||3330,284<br>3.176,325<br>73,6|3330,284<br>3.176,325<br>73,6|3330,284<br>3.176,325<br>73,6|3330,284<br>3.176,325<br>73,6|3330,284<br>3.176,325<br>73,6|25<br>15,995|252,301|252,301|32,34|1<br>6,8|80,871|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||*The School has elected,||in accordance<br>with Section 35.10(d)|||||of FRS 102, to|use the carrying||value on|1 August|2014,|
||the date oftransition|to FRS 102, of||any ofthe||above freehold|land and buildings||previously|carried at a valuat'ion,<br>as their||||
||deemed cost.|||||||||||||
|10|Capital commitments|||||||||||||
||At the balance sheet|date,|there was||anil of capital expenditure|||that was contracted<br>for but not provided||||for within|these|
||financial statements|(2020:F9,718).||||||||||||
|11|Investments<br>—Funds Deposited|||||||||||||
|||||At 1 Sept<br>2020||Additions||Disposals|Change<br>ln|Movement<br>on cash||At 31<br>August||
||||||||||market||held|2021||
||||||||||value|||||
||||||||||f|||||
||General<br>Investment<br>Fund|||1,057,150||170,479||(1,271,366)|43,737|||||
||Cash||||33,465||||||(33,465)|||
||Total General<br>Investment<br>Fund|||1,090,615||170,479||(1,271,366)|43,737||(33,465)||0|
||Scholarships<br>and <br>Fund|Bursaries|||427,728|63,257||(514,033)|23,048|||||
||Cash||||33,231||||||(33,231)|||
||Total Scholarships<br>Bursaries<br>Fund|and|||460,959|63,257||(514,033)|23,048||(33,23'I )|||
||Total Investment|||1,551,574||233,736||(1,785,399)|66,785||(66,696)|||





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|2021|2020|
|---|---|
||E|



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|e following<br>inf|ormation<br>is disclosed:|||
|---|---|---|---|
|||2021|2020|
|||F|F|
|Balance ofCapital and reserves|||(3,044)|
|Result for the|period||(3,046)|
|ocks||||
|||2021|2020|
|||F|E|
|Raw material|and consumables||23,290|



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|btors||||||
|---|---|---|---|---|---|
|||||2021|2020|
|Debtors|in respect ofschool||fee accounts|245,578|165,930|
|Amounts|owed by subsidiary||undertaking|91,620|14,419|
|Other debtors||||14,354|17,075|
|Prepayments||and accrued income||243,932|232,593|
|||||595,484|430,017|





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||||2021|2020|
|---|---|---|---|---|
|School fees paid on account|||1,296,773|379,678|
|Pupils'<br>initial deposits|||1,057,977|1,208,615|
|Amounts<br>owed to Teachers'||Pension|73,160|71,053|
|Taxation and social security|||99,180|101,507|
|Net Present Value of|Pensions Trust deficit recovery contributions||34,821|33,807|
|Accruals and deferred|income||499,918|442,690|
|CBILS loan|||57,078||
|Other creditors|||457,257|242,701|
||||3,576,164|2,480,051|



|editors: amo|unts<br>falling due|after|more than one year|||
|---|---|---|---|---|---|
|||||2021|-2020|
|CBILSloan||||192,922||
|Net Present Value ofPensions||Trust|deficit recovery contributions|87,162|121,393|
|Other creditors||||9,686|13,781|
|||||289,770|135,174|
|eneral funds|—unrestricted|||||
|||||2021|2020|
|||||F|E|
|At 1 September||||6,685,740|7,277,149|
|Net outgoing|resources|||(909,226)|(586,202)|
|Gains/(losses)|on investments|arising|in the periods|43,737|(5,207)|
|Transfer offunds||||50,000||
|At 31August||||5,870,251|6,685,740|



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|conciliation<br>|of mov|em|ent|in|t|otal funds||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||2021|2020|
||||||||||||E|
|Result for the|financial||period|||||||(902,802)|(573,690)|
|Gains/(losses)|on investments|||||||||66,785|(7,280)|
|Net movement|in funds|||||||||(836,017)|(580,970)|
|Opening<br>funds||||||||||7,149,934|7,730,904|
|Closing funds||||||||||6,313,917|7,149,934|
|conciliation|ofnet|movement||||in funds to|net cash inflow|from operating|activities|||
|||||||||||2021|2020|
|||||||||||E|F|
|Net outgoing|resources|||||||||(902,802)|(573,690)|
|Investment<br>income||||||||||(10,687)|(23,180)|
|Interest paid||||||||||1,385||
|Operating<br>ioss for||the period||||||||y'1~4)-||
|Depreciation|charge|||||||||331,251|328;804'|
|Decrease<br>in stocks||||||||||23,290|3,599|
|(Increase)/decrease||in|debtors|||||||(165,467)|175,186|
|Increase/(decrease)||in|creditors|||||||1,250,709|(719,382)|
|Net cash inflow/(outflow)||||from operating|||activities|||527,679|(808,663)|
|||||||||At|1|Cash flow|At 31August|
|||||||||September|||2021|
|||||||||2020||||
||||||||||E|||
|Cash in hand||||||||13,420||(11,561)|1,859|
|Cash at bank||||||||865,985||2,094,062|2,960,047|
|Net cash||||||||879,405||2,082,501|2,961,906|
|||||||||||2021|2020|
|||||||||||E||
|Increase/(decrease)||in cash in||||period||||2,082,501|(1,157,516)|
|Change<br>in net cash||resulting|||from cash flows|||||2,082,501|(1,157,516)|
|Net cash at 1 September||||||||||879,405|2,036,921|
|Net cash at|31August|||||||||2,961,906|879,405|



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|From|1|April|2016|to|30|September|212,945,440perannum(payablemonthlyandincreasingby3%on1"|212,945,440perannum(payablemonthlyandincreasingby3%on1"|212,945,440perannum(payablemonthlyandincreasingby3%on1"|April)|
|---|---|---|---|---|---|---|---|---|---|---|
|2025|||||||||||
|From|1|April|2016|to|30|September|254,560 perannum(payable|monthlyandincreasing|by3%on1"|April)|
|2028|||||||||||



## 

||||31 August 2021|31 August 2021|(F'000)|31 August 2020 (E'000)|31 August 2019(E'000)|
|---|---|---|---|---|---|---|---|
|Present Value of|Provision|||||||
|conciliation<br>ofOpening||and Closing Provisions||||||
|||||||Period ending 31 August|Period ending 31 August|
|||||||2021 (F'000)|2020 (F'000)|
|Provision<br>at start|ofperiod|||||155|185|
|Unwinding<br>ofthe|discount|factor|(interest|expense)||||
|Deficit contribution|paid|||||(34)|(33)|
|Remeasurements|- impact|ofany|change|in assumptions||||
|Remeasurements|-amendments||to the contribution||schedule|||
|Provision at end|ofperiod|||||122||



## 



|Income and Expendi|ture<br>Impact|||||||
|---|---|---|---|---|---|---|---|
|||||||Period ending 31 August|Period ending 31 August|
|||||||2021 (F'000)|2020 (F'000)|
|Interest expense||||||||
|Remeasurements|—impact ofany change||in assumptions|||||
|Remeasurements|—amendments|to the contribution|||schedule|||
|Costs recognised|in income and expenditure|||account||||
|Assumptions||||||||
||31 August 2021 (%||per annum)||31 August|2020 (%per annum)|31 August 2019(%per annum)|
|Rate of Discount||0.63||||0.55|0.97|



## 

|||31|August 2021|31 August 2020|31August 2019|
|---|---|---|---|---|---|
|Year|ending||(E'000)|(K'000)|(F'000)|
|Year|1||35|34|33|
|Year|2||36|35|34|
|Year|3||37|36|35|
|Year|4||16|37|36|
|Year|5|||16||
|Year|6||||16|
|Year|7|||||
|Year|8|||||
|Year|9|||||
|Year|10|||||





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