ROUGEMO]Yr SCHOOL TRusr iJMrrED GOVERNOKW REPORT YEAR Ef4DED 31 AUGUST *)20 c R¥**ion No. 01178886 C]wity Re8lltsats 532341 ROUGEMOThT SCHOOL TRST LLrTED FINANCJAL STATEMENTS YEAR ENDED 31 AUGiiST 2020 PAGE Members ofth¢ Board md professional adiisers tndep¢ndeDt wdltor'j report 14 ststement of FItCIal Aaivitie5 (InCorF#)rnti the income d i¢coum) 16 Balance s&c¢t 17 Cash fiow ststem•M 18 Not¢5 ¢0 the fUn(la1 StstenNtr 19 ROUGEMONf sCHL TrUST LtbllTED YEAR ENDED 31 AUGU 2020 Mrs S tkni B MR Phrn S. (App. CbAir of Gov. 1fy116) MrlGSbort Mrs J A Clark BAOlonsA P.G.C.E. ro Mrs M Tnbbick Mr H Clatk • Mr R Gr•en B.¥ IHWX BAr¢h., Kl.BA. Mr P Harris * Mr I Hopye BPth8' Mr D MrCI?Ihnd KEY PERSONNEL AND PROFWIONAL ADVISERS Mr R C10 COMPANY SEcARy Mr R C•nevAle CLERK TO ThE QOVERNORS Mr R C•rnevale- Heathwt Mr8 S ATrlv- Lknt*Jty He&d Senior School Mr A Krit- of Bu8iness end Finan South Waks NP20 6QB 01633 820800 WEBsfiE AUDrroRS io Qucen Street P EC4R IAG. ROUGEMONT SCHOOL TRusf LIbD REFEREYCE ADMJMrnTIVE IYFDiLMATION YEAR EliDED 31 AL'Gusf 2020 BAN%ERS The ROS Btynk of S¢¢xlan C4rdiff CFIO 3AQ 50LICITORS Vea]e Wa5 BtiAol. BSI 5WS REQISTERED CFL4RITY NLTr. IBER 532341 REGISTERED COMPAhry NUMBER 01178886 ROUGEMO SCH(IOL TRulJ[rrD FOR THE YEAR ENDED 31 AUGusf 21120 StstemeDt of Re<4m¢llded Ptactice (SORP 2015) (s¢a)nd edthon effEdive l jaDu 2019)-Ac¢ountin8 ond Governkng Doeimellt Th¢ Ch* is govffned by iti memth70th and ArtiGl# of Asx)ci10n IDI its 1n8tty of Govffnm•nt which was last allMIed in November 2015. Gov•rnl4 Body GovernLY8 are elethd at a Meaing of the ljofird of (ioV¢rnLYS the bAsis ot'nuniJ)8dons ttceived from other governLTh Their ar4Jointment is b&cd on their eii8ibilty. atsd speCi]st skilb. At least One Ilov¢rnor is alwa a • of a pupil at the ¥thJ(A., MT¥ M¢NaTm Mr Cordtwr Mr M¥£hllAT Govemm gerye for a of flve yeaTr aDd are eliwble fty re4JethM)D ftr two SubWt wiods w that a Vice Chalrnmn for a p¢ri¢)d of five yeaTr WI are e4ch eli¢ to *rve tr one thquent period, 90 thot a a child 4t the School ft¢s are paid the sDe bui$ *8 •ll to the se11. Thty fornMIty meet 95 a Board at le&# once a tem (3 thnes a year) to dettThe the g¢nernl poliry ofthe (Jjarity review its overall mawent and colOL for which are leY responlll)le. The of implementin8 mort of tl* Bogxd's pk)Jicies is ¢4rried out by the Tebbut4 and by the Edll¢& Committe¢ whi¢h alw meets three times a year utykr the chairmawhip of rth ROL:GE.mO1 SCHOOL TRU LIMfTED GOVEILNOKS. REPORT {contl•ued) FOR THE YEAR ENDED 31 AUGLST 2020 The da% to da!. m8na8¢meN of th¢ Sthwl is dek8*edto the Head w(th with a Senior Monagett*nt Te8m assist him in his leadet8hip role. The Director of BU51[5$ and Fi08nce i4 Part of his team and reporrs directiv io the Boord through the Fin¢¢ and G¢nernl Flrpose5 Commiuee. The H¢&dmaster app)ints Heads of tkpament throu&hou¢ the Schl1 struckn ro a55iSt in the man•gemem of tho organistitio IlTrerever sensible d appropriate 8nd in order to enwwage finan¢AI Ol$hip and reSpLs1)llIn", Heads of Depotheni nwwg¢ their budgets M"hich are formall!. dele M. the Head through the Direcbx of Busille5s and Firrtn¢e. Remuncrntion for kn. m8n4emt & set h. the Bou¢ Mith the poli¢¥ objertiir providing apprte incenllve$ w encournge enhatteed perfOrnnCe tnd of remtrding falrl!, and indiiidual cotstnl>utiOn5 to the SCIoI.s su¢cess. The appropria and relei7Dce of the rernunetatioTr polio 15 r¢%iew'ed ?llall.. including Teference to eotwisons Thith other itide*m 5choob w ¢D5ure the school rell]n5 sensitive the broad¢r issues of pal and ullploNTa¢n¢ ¢ondiiiLW elxM'IKre. approxlmatrll, 300 heads of leading Bririsb independent Schools. The Direetor of Business aThd Finance is also member of The IndepaKknt SclxK*is Bws8rs' AsxKiatiw ¥thich enabks the s¢iwol to bt Kept abreAst of be6r niaiJa8eTDent PltICe in independeni s¢hools. The SclN>ol is 1150 a rnember of a nurnber Df other FYofessieAdent schIS. Council. The Sctwol proiides hs facilii4es to a nmber of loul sportiD8 clubs and as51&10nS Qg th?11 as provlding venues for loc& comrnunir). STKITEGIC REPORT The following 5ertion5 of the GovttDm' Report fcqjns of the suwe8i¢ rep OKJECTIVES AcfivTfiES The objea of the Charity. Is the ¢du10Th fty the public bel% of eknildreD brtween of three and ¢i8bt¢en. StrAt¢*¢ Alm •Dd Intrlded Effe¢t The Prlnclpal Alrn liougernort Sclwol aims to help ea¢h N>it rulise bis or ber acthic FnI1 by offaing aroUnd edtior.. ROUGEMONT SCHOOL TRUST IINITfED GOVERNOKSg REPORT (eOllthiwD FOR THE YEAR ENDED31 AUGusf 21120 A¢adeThk D¢v¢k)pmtmt ROUgnt Sch1 aims to wovith #n excellent thration te kS to dev¢lop the fi1 potenti81 of each and to help ¢ach pupil to dBveicp gn wuirin8 ithptht rniNL In pursuiD8 these Hims the SrJLIN)I th¢ follow Obj£1 to help e¥h pupil to devel 8(xuJ TkIllE Imbits. to ¢nabl¢ each pupil to tackie iftdepthtly aDJto develop the abi]ityto think indepenthdy: help each pupil kn acquin a Jellse ori by the ability to reA4 lism objuve P•TwuI *nd Sothl D•veJopmeat Rou80nt S¢h(M)l alms to have a int]Dcnce on the develw¢nt of each p911.$ charoL* and personalty w as w ¢nllbk him or be o uf1 member of JiKioty And to be for the wor]d ixyoDd *hwl. In thua aimi th• S¢11 Iw8 th¢ folloviti8 obje. to encoutD8e self4i8upline atMI 4 8¢nse of r¢8pthsiTr>iitty' knowledN' equip exh pupil to hij fft iei8ur¢ time ¢ffe¢tivety, Mioirybty alld wfltably. to in#ill and en¢ow a senge of fair play •od sp)rt$Ship. to help ea¢b pupil to wuir¢ a set of moral valws: * pwjils to explfft th¢ spirittMI of li ROuGEM0 SCHI)OL TRUST LIMITED GoVEYORSl REPORT (eo•¢iJu¢d) FOR THE YEAR ENDED 31 AUGU 2021) Obj¢thcg for the Yur. The Btsard"s miill objecti1* dumg the consi to b¢ to educ&e all the S¢hool'$ pupils to their maximum poteniial. This include5". to FYOi'id¢ a stlmulatlng learning rniir(Yment in Mthich plts wi dDtlop their xademic pol¢niial to the to proi'ide a bapp. and secure pHstLnl eniir(mmem in Bthi¢h pw>ils can learn ro jiv¢ together thus fosw a Sense of cornn[r+., ¢fyedll Tt4pea fored. mentslty. •motiona]ty and prn¢ti¢41ty forthe rthv llOTmal for the SwDmer 4nd Sept¢rnber. lirne. It wa# its int¢iiW fact thak due to the ill#Y of leuth& (ewially those in Yearn 10 mI 12) were pokntially Jllany weekJ almd of where tt*y would nommlly ex to b• at th¢ of year. Cla&8e& were w much ittto a ryoductibw routine of learnin& with and p11$ find8 theirkwe and rhythrn online. and pmllt n1Xific&tto for thox appe4rn1 to nwl i littlo extra Sch1 cotitiuued to nnitOr ¢he puplls ¢10. whilst alway5 mindful of indivithmj cirrumstoKe8. and ranain¢d extremety ke¢n to line IarniTrg to up ott4ite. For from the 29th Jw we a Jeore onrysite Itlg D¢v•]opments We have completrd the new kM2 roillioll Refrfkny. Sixth Fonn Cem on the l# J4lluary 2019. Thff¢ ar¢ seveTrI impressive dr¢ IDW of & Frank Edwards Building and the whole school site the school websitr new Th¢ AuditOT1 •iDCe 4iD& both in rthiol and remotely. Climbiti8 fThme the PTA. ROL'GEMONT SCHOOL TRUST LIMrrED GOVEIUIOKS, REPORT (eontiD¥¢d) FOR THE YEAR EIIDED 31 AUGUST 2020 ew DJtlopmtnts {¢onthued) Our new.l!"*5tablished pormcr, Holl1'ROU%¢mol hai'e ¢ompleted their second l'ear. and thry ate DOW oviding care for children frorn 6 week5 up umil tlm'join our 3* Nurser4. on ther 3rdbirthday. The Sthool is curreml) exploring fijrther exritin8 development pla IW*.rr. these are currernly on hold due to the effects of the on8OiQ8 CoNid 19 PdeiC. Prlllrlple Rlskn and U]Kert•lotle4 The GovernLYS consider the economic vjrbulentt of recem irats atd ift pani¢ular the rewit developTnents of Coronavirus Pandemic and the affordabiliri of fees . prenrs xross the independent sector w be the principle risk faced b). the Scbool. Dupite the ieirl$ of womic un¢en8inTh pupil numbers ve 1i8nificanil!' increa over the pasi few N'eers. Curreth numbers •Tr encowa8iDg (kspite the of the pandemic 10 date, though caution is required ¥iven the ongoing likelihood of a Second and lockdowm prDredwes that could have A furth¢r affect on pupil numbers as paTents fittd ft rnOTe aDd m(Yt diffieuli to &lTord sthol ftts. The School made an 11,¢ d¢cision to Tethe fee5 b!. 20rA* f¢x th¢ Summer trrni ro retlecL the phNsic41 c105ure of the School due to lockdowij meLsures. despite the s¢hool ¢olliinuin8 to eduute pupils thTwh In ottiine pro%ision. A st11ficant amount of plannin8 bas been widertakn to ¢nswE a fvll edwation FroTrtshon UD be delivered to ail pupil$ Vl8 an online proTrision in the ¢iMt of fi#uTe lo¢kdouTr or disrjption. The school Iws an actii't ra8rketin8 and mtegic pkn to wr¢AEe pupil numbers. Reteniion of puplls is kn" to future pupil numbers. Th¢ Go*wg Bod%'. last I'etr 4)w%"ed a ftt incregse io September 2018 of 3.S•A and for September 2019 8 fe¢ increase of 40h. Hethh atrj Wets. is th13%'s a si8nifiwt for ti5k maAa8eiue The risks rn18e from fire and in6mictUre w perso1l risks (m05t noMbl%' M'h¢n am'a!. from the sctrLooI on tri and expediiion$). The le*¢] and breadth of 8Cti*its' the S¢hool 15 iTDpresslNE aod the risks asSOfitted uith all a¢t1tieS are minittsis¢d bi" th(You&h pl18 ond risk w¢ssrnenL Tr school ho8 deb'eloped a 5eparth COVID Risk A55$m¢t to rtYti8at¢ the risks from this pandemic. Lhta protectiou is also a SI1ficent risk poniruluh." sn the dipl en%irotimellt ond are utr805n1 rrnining to enswe thii the¥. 4ue up fo d¢ Mith the l&¢st le8isIAtion ond Demiied CODSiderMiLm of risk is delegatrd io the Senior ltha8emeni TeanL The risk monagemeni prow5 and the resultiDg repon ideMifies risk5, wes their iowt 4nd likeliho1 an¢ w'here ne¢essory, re¢ommends ntroLs w Tllitigak and monxt<>rtho5e risks Art assessed as bT8iL The generic controls used by the school minirniK risk Include., Sr&te8ir dv4rlopDWlt p18nnin& t¢%iThYd 4nnu811} h. the Sthlor mw8¢1 Team. Colnprehensive budgeting und m8nagement I013)111 Fornwl iiritien policies ineluthg ckar authorisati(fft and Wro1 level5: Ssfegwding Attd i'ethg &Yo¢ethre5 as ttquired . ]eM" fDTthe wotectirnof the vulner4ble. risks for the 5¢hool. REvw tncome for ttK yr tornlled £6.84l.827 (2019: £6,619J55) expwdiulle arnt w £6,518:669 (2019.. £6,279.074) resuhing in a 8p1$ of £323, Iq8 (2019: £34QH821 This is maitLIN' the result of incre&*d pupil DUtnber5 a]so 8chie*iTW the b¢sr i71ue for morrn. through c051 effectiir prn¢urement and bettcr'J5e of school resour Irtcome Silfie0llt11 affe¢t&l dwing th¢ SuTomer terni &s 8 Trsul¢ of the Coyid 19 pandemic y'bich meant that p1]5 M'ere noi allom'ed onto the khool sire Ind ere edted thrnu8h ouron line le4rniDg plakn Thi8 rrsulted m Vd fee disco(mt beiDg given fr ROUGEMONT SCHOOL TRUST LIMTIED GOVERNORS, REPORT (conll•uwD FOR ThE YEARENDED31 AUGUST2020 FINANCLIL REVtEW (¢Mth•¢d) the School tsking advantsge of the 8chcmc for e¢rtsin wff. maitiiy on the non teaching side ]ludIng 8ignifiwt ¢fflci¢w Javings fjl 8 r¢8utt of th¢ ¢lowT¢ all of vkni¢h h¢]ped th¢ nill i trth8 gurylus a¢ th¢ ¢nd of th¢ frnan yw. mageMent of risks and ¢¢*Y¢m8eit& At 31 Aw 2020, the Unre of Rou8¢moni SchLM)I wtre £15.565,852. Th¢ a¢hool ¢• no fre* rek¥ve8 aTnounts Ire rcpru•¢•J by th¢ valuo of fixed re8111ae of the 8¢kn1 through close monitoring of the i•nDty c&sllllow And the g0van are contont th ROUGEMONf SCHOOL AND THE commi1N (MTBLIC BENEFITJ The sd%1 r¢malDB ¢onunitttd to th¢ orprdIng publiG b¢n¢fit in with its fouDdin8 Pri1P. Charity legislation iwhmles a Rquirellmt to deMOw that bliC benefit for Ally charitsble PUTpose where is guidancA on public benefit in decidiD8 what activities the Sch1 Sh uDderthke. The Goithm have always ¢ODsidored that the xhool ShthI strive to pY & and rt4>QllStble iti its l(Kai ¢ODllDunity, $trSviD8 to the S¢hfy)l athieveg this aim oj follo. The S¢hool wishel to do au it to widen ac¢¢ss to the edw*iona] OPJX*lunitics that it Off and to this end has in¢teu¢d th¢ value of its Frovi3ion *adty ID rt£•nt iluthD£ th¢ wA8ith of 10 The Sch1 suprxT*d 51 QOI*. 44) ¢blldren dr8 knry Schtrne in th¢ year pJthl 31 Au8uit 2019. This whi¢b is availAble on a me*w tested bAsis as d&ennI by the Fll)atic¢ in consulwiott with th¢ rethJr¢d U&l f¢e itic0 by £321.694 (201*. £3142781 Th¢ School doej all h prnCtiCty ¢att ROLGE.MoNf SCHOOL TRusf LJhllTED GOVERNORS. REPORT (contl•ued) FOR THE YEAR ENDED 31 AUGU 2020 ROLTGEmo SCHOOL THE COMMUNITY (PLT. LIC BENE) l¢ontlnued) 2. S¢hol•r*hlp Md HMdm•ster AT4irth (coMtknu¢d> a IOD/g and Lq% hOlershIP whicb is applied to tcademic fees for b&ween 2 and 4 yeM This scherne 88 (2019.. 67) Children and reduced fte income h. £202,570 (2018: £195.845). Cbarltable tuad-rablllg Rougemont School h&s a strong sense of ¢ommunit%' and through the enthusi11¢ SUPPOrt of pupi]4 Staff and parents participates in a Mide ran8e of charitsble t)Jnd raising throughoui the !'eBr. Chariiie5 w'hicF. these activities support are USU. Klecled OD the Brounds the%" complemeni the objects Otthe School and th&1 they are basod locall!.. Themes &ling to clwtrable causes xe incorp)rated imo curricular 1¢8rning programmey Ththere possiTr+l¢. ln the cbildren utmlffe thew rnaiD fundrnisin8 llaiviiies of the N'eBr. The PrePr.+. School hAS nwifflained iu ¢¢wions with the I(1 commuftiry.. Fundrni5in8 activities been undertaken noi onl!. during the sch1 da%.: such as rnufti d&>.& also durinB eiffiings Bnd wrekends. Through ihese actii'ities children cominue to gain an qpweciition of the ne*ds of otherg. This charity, link has fed inio mAn!' Ar of the FouTrdetion Pbase CUTficuiUn4 sucb &5 Litrrarn. and KnoN'l•J8o aod Under5thndin8 of th¢ WorfiL IA'¢ ¢oniinu¢ to suppon the ]ple$ of Global Citizenship thruuBh our Ilandll for schools I Afri. The Senior SCI01 also prornotes and support5 go1 cwjges through its fiLvthiiing eff(fs. The i'ariou5 ch•rfh" events Aerow the w'hole Khool thls ieAr ba%'e rnised & bithl of £7,732. The school also alltiwed ir5 faciliues to be used for a of ex*rnal fimdrnism8 A dethiled 4Dth'5i5 of the fund r8isin8 is dfflailed below.. From I Sewember 2019 to 31 Au8USt 2LY20 Rwmom S¢lwol Sed the following ch•Tities througb fijnd raisin8 artiiities: 2020 2019 Alzheimers Socith Australian Bush Fire Bri¥i5h Hean Foundation Cllncer Research Children in Need rohns & Colitis Children pass It bxk Demetstia L'K Troirtrnde Leaukaemia Care Lill1¢ Princes5 Tntst Latch Luv4" Ellis Foundation 114 980 325 341 1807 1401 31 206 343 52 57 32 46 49 1264 Mani. Tears Anitnal Clwitt" Motor Neurone Dlse45e 204 23 50 285 Red Crosy Sri Lath Ap1 Save the Children St D&iids H05pice Teno)I The Silver Fox Rescue 263 2159 55 io Th¢ Tree CoutKn Toilet ThvinniD8 Ctr*ity Velindre Hospitsl 52 156 374 7,732 The Sdwl Sup[ta 20 clJar#ie5 at rni*d ll.732 iti th¢yw e 31 A•2020. ROUGEMONT SCHOOL TRIST L]MrrED Go*TRoILS. REPORT (coodllned) FOR THE YEAR ENDED 31 AUGUST 2020 R0bGEmO SCHOOL THE cOE)y (PLT. LIC BEIIEFfT) (eonthiued) Carttr de%¢knpment workpl*ee ¢r*l•iBz Rougemolrt Sthwl M"ekomes ittdividuAls w'ho Thi5h tv undthake PTa¢ti¢al M'ork txperience in the school a5 Purt of their teacher or cbildcare vainitsg. Th¢ doftates ts Te50urtt& IR case5 fre¢ly, w 1P in the training and SWXTViSiOft ofthese snthts. Workthg elomh" w6th local ¢ommulllty The Sthool continues w K'ork closel!. with its Dei8hb(xus in the locd n]mUnI. as of its ¢th05 of responsibilit). w'ithin the Mider communin.. Tr School also opens its fA¢,"liiies for use to the general public, through local 5POrtin& dance and drama rn Leuiti8 of lli¢S for thése actiViEies ts giv¢n in some cases free of Charge or cbBrged u conce56iOtw' ratrg w enftbie as many local user growys qio>' the exttlient fa¢ilities RoU8enwni1y to offrr. & S•i'lD8 to tb¢ Publk Pune The School reliesys th¢ we55ure to provide pl¢$ in the m41ntyined sethx b5. ndeIl. educ81ing 580 childrm of corJpul%. School age, saitd the public Fxus¢ an ¢StiMad £2,697,580 in the 'tar end¢d 31 Auyst 2019. This illustrRtii'e esrimTh is ¢alcul•MI kn. as5umin8 a of £4,651 the srate secwr. PLANS FOR FvfuRE PERIODS The Board's ddailed direa1 to the I{e¢r and Senior Team for the next rudemk year remains unchan8ed. The 8reas of wi¢ular intrr¢st and awactiD8 prirrits" during the •Tr: WldeDIo8 Aceoulblup. Tr.e School is to ¢ontiftu¢ trs effttts tr¥ 'Iden t¢e¢55Th1 ilii.. The School'5 ¢ontinued committnent to awwding A¢M' 8¢holarships ar&d inueasin8 . a5SiSt8nce reftNi a corner of this poiic>'. The Imponance of lelliDs the Scbotsi'5 first Cl facilities to external organ2$8tions such as communlTh' ps, spons clubs. holid. ¢lubs ood Othrys rem•iM of immen* imporwe In the School's aspirations io d¢rnoDStrate red public benefiL Acadellllc Su¢¢eJs The exceJl ent academi¢ Success enio>Yd in reant yews 15 ev1&e of the illu¢ Added h" i Rougemoirt edue8tion. This contind 5ceSS in th¢ baianced h. fine exwawcurri¢ulAr M*lAtsnAiice olhcilltles The B08ry1 acknowledges the iDPoft8rtt of prtV+idln8 syfficiert resobT¢es for the cominuing routine reactiie and pre%rDtstiiE tn8intellan¢e of the buiidiugs fixwre& fiwngs and grand5 of Rougement School. ineludiD8 the bi5tori¢81 building L]2OtArn Hall and the pre¢red the SclLLwI. fknm8 the comiug fiiy )rars this will T¢maitt a hith 1. Improvement of FacUl¢ks The Board iiislKs the School to ¢rortiniie to triiiymt the fa¢ilitie5 for the use of the School and the ider comrnunits. Trith this itt mind tbe Schix)I bas a dfflailed piJD of capTth] under coThiin4 r¢lie. desial0 lY inyove the inten1 and ex1¢nl fxilities &I7iJable for us¢. 12 ROUGEMoKf SCHOOL TRU updrrED GOVERNORS. REPoRT{eoAtimuj FOR THE YEAR ENDED 31 AUGusf 2020 fair view of the stste of affaiTh of the ¢b*itsble ¢tY of the iDcon)iDg resourc and applic•tion of any time the position of the cJMritAbl¢ and ethle them to ensure that the 6Dan¢ial 5tfitements rAymply with the Cryanits ALX 21X)6. Th¢y are allo rup(le for sth8uBrdin8 the as*ts of the charitabk Th• ttiule48 have TAken all Jly that tlw ought to have t*ken to rnake thernselve& awarn of any Tel¢V audii informAtion and to establisb thAt the aalIly is of that information. Included on the Clwity's wetsi*. lS1th iti tht United Kingdom 8ovaning the prep8rntiOD and The Governors, report iDcludiDg the strwic rewt was ¥proYryl and authorised i5 byd* Botrd of Dir¢¢tors (Goviynm) at it8 ots 2020 li1 (Ya its lthlfby. 13 INDEPEI¥DEhry AUDrroRS? REPORT TO THE MEMBEKS OF ROUGEMONT SCHOOL TRusf Ll.MifED Oplnlon We have Auditrd the financial ststements of RoUgem0 Sd¥)ol Tn Limired the l'ear ended 31 AuSt 2020 which ¢ompris¢ of the Consolidated Statemenr of Fil)181 Afflivitie& C¢)ftwlidated and Compan). Balance Sheet& Consolidated SleMent of Cash flom's notes the financial swements. inGluding a sutnmary of si8nificaM accouw tmilicies. The fjnanciai r¢wrkng franm*Thk has b¢en applied in their prepuration is applicable lam. and United Kingdom AcrouDtin8 Srnndtrth, including Fitwicial tieporung Srandllrd 102 Th¢ Fiptrthclal Reporrtng&¢mkndWcable in ikg LKandRepublK oflreland(Dnited Kingdom Genernlk. Accepted Accouniio8 Prnoic¢). In our opiDion, the fuwicial siaieillents.. 8ibe a mie f8ir view of the stsle of the group's aTha of the clwiwble compthy'$ affairs as at 3l August 2020 and of the ww)'s and prnt dyaritablt 5 ner moven*nt in fu15. including the lown and expendlture. for the %rar then eDde4' hai'e been wopffh.. Fry*red iti *¢cord•nry with Lllid Kingkn G¢Derall)' A¢¢ept*l AccountÉnE b4Y¢ been prepar¢d in with the requiremems of the Compatiie5 Ad 2ry)6. for oplDlon We Conducted ow audti In a¢¢wd•nce Irternati1 Standtrth M Awlitin8 (UK) (ISAS (UK)) 8nd applicable laH'. Our resFxmsibiliiies under those swthds are further des¢nW in the Audsior's re5N)nsibilitie5 for the audii of the finan¢iAi STAWaWm$ 5wion of our repffi. e #rt indeFend¢ni of the wup in o¢cordan¢e with the dhical requir¢rn¢n that are re.nTnE to our of the financial st*emetts in LL iftcludw the FRC"s Ethical Stondrf and *'e lfilled oar other ethical reswmsic+iltiies in 8c¢ordattc¢ uith thes¢ requiT¢ments. We belieTr'e the 8udti eviden¢e b8 ciltained 15 sufficien: and apprry1 ro pro bosts for ow opinlon. RuponbIlld of 8ov¢fDOT• (or the fwnd*l rt*ieme•ts As explained more full). in the Boiyrnors, responsibiliiies smtement srt OUL on page 12, the 8overnoTS (w al80 the director5 of the chartmbl¢ cottw!. for the puryx)ses of IUM.) arr re5pon5ible for th¢ preparation of the fLoaftci)I SeMents and for bein8 sa¢isfied that the!. giif f8ir iiew, and for such intemal control as the govtrnor5 determine 15 oec¢ssm.' to etsable the mgrntion of filn¢t81 stytements thar are free from material miss(nremea¢ Mbether due frnl (r err. In prep8rll the flnanCi styemthts, tt* governLYS we reSpo${ble fry u%s5in8 the youp's the parent ¢haritsble compon! s gbiliTh' to conEiDUe a5 a 8oin8 concern. dis¢1091 &$ applicable: mauers related to 8oin8 concern and uslll8 the going conceTr. buis of xcouming unless th¢ soi'eTDors etthtt intend to liquidBte the up or th¢ pwi ¢toritsble cornpen%' w to ttase owati07& (rha%E Tr) rli41)e alrrnwive but w do so. Auditor's respooslbllhles for th¢ audlt of the flD*nelAI thtcments Our obJ'ertilEs are to obtrin re4son8bk uranCe about Thhether the finwxlal sutemeTht5 a5 a whole are free from MateT1 ml55tat¢M¢ due to fraud or erThx. and issue an 4uditor'$ report thai includes our opinion. Re&K)nable 8s$urance ts • hb loel cf assurart¢¢: but is wi a gurntee th8t an audit conduded in accordance with ISA$ (LK) iiill dew a materi misststrlDent M'hen ir lSts. Misstatemellts Can ar:s¢ from fraud or etror and are con$ider¢d m*ffial 1£ individu15. or in the a%te, thm" could be xpected to infiucnce the exonomic decisions of usez5 tsken the basis of these stsrements. A further des¢riplion of our resp)nsibilities for the audit of the fillanC 5tstcments is on the FinoD¢ial R¢portin8 Council's website ar. *WAT.f .ukJ Conduslons TrlatlD¥ W 8oin8 concern We h•it nothing to repcKt ill respert of the folknving mattern in re]ation w which th¢ ISAS (UK) require to ryin to 'he: the gov¢rn(ffs of the going CLwKeTn i*sis of X¢OUDtin8 in the pffepr of the fiDan¢ial 14 INDEPENDENfAifDITORS' REPORT TO ThE MEMBKRS OF ROUGEM0I SCHOOL TRUST UMrrED (¢omtl•oed) Opinions on otber mAtt¢rg pmetlbed by the Companks Ad 20(hS with the fitwicial atstements.. *MI M*tten om wbl¢h w• Are r4ulrtd to Ywt by ¢xuplkn In the 118ht of tbe knowl* of th¢ ond the parent cbaritsbk compAny and its requirm w to rwt to you 1£ th our OPiDi( •nd retirn4 or OTr r•port Thi8 repxt is lelY to Ibe ¢harilab]e compHty$ 0$ a i, in puty0ce with Cb8pter 3 of Part 16 of the Comp8tiie8 Act 2¢M. (AT audit iwi urthtakcn that we stat¢ to the charitabl¢ 10 Ibeen StreetPkn 2 February 2021 EC4R IAG 15 ROLGEMOhl SCHOOL TRLST LImED CONSOLIDATED STATEME OF FINANCIAL A1YrTIEs FOR THE YEAR EfiDED 31 AUGL'ST 2020 {IDeorpornlinz Income & Eveodhurn Acco•oi) General Dtslwted F4•ds TotAI Tot81 2019 INCOME FROM: Chmrknbk Acth4tles Scbth)I fee5 AnciEL8Th' income 739.735 525.384 5,739.735 525,384 5,948,272 567,611 Otb¢r Trndlni A¢tlvltl Other income I09.060 I09,060 89,167 tnTr¢siment llleome Bpnk and other itrterest 905 IncoThr from Douthwi and Lrya¢l 467.068 467.068 3,JCKJ T(YfAL INCOME 6:141.r27 6,841.827 6.619,455 EXPEliDITURE Ralslng Trading arti%ities 27.784 27,784 17,935 Charlt•bk Actmdes Education and DkIng 6.49),8L< 490.885 6261.138 TOTAL ExPED1TLRE 6J18.669 6,518,669 6,279,073 NET INCOME BEFORE TRANSFERS 323.158 323,i58 340,382 Trnn5fer between funds (546.897) 546.897 YET .VIOVEMKNT IN FUNDS AFfER TRANSFERS (223,739) 546,897 323.158 340,382 RECONCILLIATION OF FUNDS Funds as I Septernir 2019 7,453.043 7,789.651 15241694 14,901312 1SNDS CARRIED FORIIARD AT 31 AUGUST 2020 16 7229:3( 8J3&548 l5.565.852 l< 242,694 The notej oll ¢5 19 to 34 fotm part of these fllMn¢ial swe[llA5. Th¢ SIRent of Finattci81 Actiiiries incluts all gains di05se5 Tetwised in the !"ear. All Srnfyjnts deriiy from cominuing acriNiiie5. All income and rxr*nditure in iKxb !TaTS 9rt UDresyie*d thettfore a comp8rnbie Sta*mem of Fin1 Aaiviiies is nrtrequtr ROUGEMONT SCHOOL TRusf Iih(ITED Company Dumbèr: Q1178886 AS AT 31 AUGIFT 2020 Ch*rhy 2019 2019 Nole4 Tangible 08sets Investrne in SuId1•ry io 17.956.914 18210,591 17,9*914 18210,591 StLxk 5J89 156,624 1284.970 3.141 113.405 1255.849 li 234.849 iJOO.804 252260 1279,999 Cash at and 8hortterm dewits l J36551 184&983 1,531259 1.442h02 CREDITORS: amouDts folknn8 1kn 12 (871,709) {i.ot2.803) (867A19) (1,078.224) 364.180 364,178 TOTAL ASSETS LLSS CURRENr 1{621.756 18J74.Tll 18,621.756 18,574,770 CREDTfoRS: thx 13 (3,055ffi} (3J32.077) (3.055.904) 13J32.077) NET AssErs 15,565,152 IS1694 15,565.852 15241691 G•n¢rnl fllnd . R•V4lu 16 7229J04 7853,fM3 16 8.33&548 7.719.651 7229J04 8J3&548 7.453.043 7.789.651 IS65,852 15241694 J5J65.852 15242.694 15.565.852 15242,694 1SJ65,852 15242.694 17 ROUGEMOYT SCHOOL TRLFST LtMTfED CONSOLIDATED sfATEMENt OF CASH FLOWS FOR THE YEAR EDED 31 AUGUST 2020 2020 2019 CASH FLOWS FROM OPERATING AcfiviTIES ei Inflowl(outhow) from operAtlons N¢t cash proiided bN'(used in) 01tillE a¢tiviti¢s 18 513.393 961,720 961,720 llowj from Invtstlmi •eth Pa>Thents to wuire ts081Tr+l¢ fixed e[S Receipts on disp1 of tangible fixed assets trnvestsnent income (154.023) (1.439.738) Net cuh (uled l•%*roilded by Investh11 •¢ttvltleJ (148.693) (1.438.833) Ciih Inllo•T befor• tlw¢lni 364.7( {477,113) Cash Ilowi from linwwla8 •rtlvlties Rep&!Thents and bank botTOi%'ings 14¢t infloii (outtloM') in respe¢t of fiDllnce (244.961) 1,14&986 (14.656) (14,655) (116,073) rinancc costs paid ¢ash outtlow from (348.866) 1,018,258 ChaD8e ify t*•h and ¢qdlialMts lo the reportlug perlod 15.834 541.145 CA$b and ush equiv•l¢llts at Ihe be*nlJ¥ of the Ttport5Ag P¢Twd 1284,970 743.825 Clih and equli*knts a¢ th¢ end of the reportlDg period iJOO.804 1284.970 The ntxes on pllg 19 to 34 frThi wt of these fillat smements. ROUGEMONT KHOOL TRusf LihfrrED N(yfKS TO THE FINANCL4L sfATEMENIS FOR THE YEAR ENDED31 AUGUST 2020 ACCOiiNTING POLICIES applicable in the UK 91 R¢publi¢ of tre140d (FRS102A the 2LX16 aDd the Stthllt of R4kn] Si•dard applicable in theUK and Republic of Irelaod (ns 102). thtive l JanuBry 2015. frnble fithre, the risks to whith the Sthwl is exposed I1 the d•tsiled cash projectiti4 th¢ •ci4wmk envroDrnenriD 1¢h the Sch1 opulltei. The School is a Public Benefft rewstornl as a cknity tn En*and and Wal¢s qnd a c¢)mpsny limited by yarantm tt wu 29th Jufy i4 nuuthr. 1178886) re8iffiw•J af a obtrty on 24* cktottt 1974 (¢bvty numbr. 532341) Crttlcal Aee4bUntl4 Jidyrnents k•y •)uree• of •thtlon wn¢¢rt*knty In the aFplic*lon of tbc attountsP0ljeIc Th¥t¢es are wuired to Djake JW1 eAtAtDaty. aDd Th¢ usefjjl tiorniC livt8 of lao8bk fLE awets are ed on mCl's JUdgent aDd exrwifthc or liabilities tt the balan slwet d* are lft¢iy ty reyjh in a mth[i adjTr5tsDart to their WiD8 amounts 12 heome ofreteRpt bave be4n sotisfj•L 19 ROUGEMOYT SCHOOL TRLIST LIMED YOTES TO THE FINANCIAL STATEMENIS It4XtIDve4) FOR THE YEAR ENDED 3J AUGUST 2020 l.2 Intome (tODthiued) Donotlolli athd *•elu *nd otb¢r i'ol•ntary Income Volunw%' inromin8 rnwces art accounted for as gnd Ml)en entitlemem arisu. the amount be reliabl% qualltified otsdthe economic benefft to the Scbool is ¢4Msid¢Ted prOble. Don&tiony receiitd for the generni pwFw¢s of the Sch1 are LTtdited to Unresrytcted Funds. Donlltions Subjeci specific wishes of the dotsors we LY¢dired releTr7llt Restricted Fd5, w'here the wnouN i5 held as expendllble c8Pitai or to Endo*TreN Funds. Legacie$ we rffognised Mthen the School has entitlement the the arnouni be reliab. qU8ntifi¢d ond the economic benefrt w the S¢hool is ¢on$id¢red wthble. Emidement is the earlter of the Sthool bein8notifi¢d of on impetiding distrSlyAMM w the Iw bein8 receiir'able. Pension co5 are ¢har8ed A percetwe of lrIeS attd pwd ovff to Scottish Il'idoiis on trA>nthli' buis. Short lerm beDellts Short teTrll benefft4 in¢ludill8 holidt!. pA)', we an eyose in the pu¥)d in whith the smice i5 received Employee ternilutlon beneffts TerniTnation ben¢flts are Kcount¢d for on att basis and in x¢ordth¢e wlth FRS 102. 1.12 Bur5m"fund BwsaTh" &5sistsllce continues to be g(brn tr. I m¢ans tested t*sis. bow'ov. this is achiev by di*ountlng on8oiu8 fr¢ income. 1.13 Audltorium aod RefectorTr fund The Auditoriurn alld Refrctory. desi8Dated fund b&% Ixett ¢rt*ed ftr the de%'ekymem of a new. fa¢iiit)' on the sitr of the prni(YJs1!' destroytyl CaDtw which dlti8 a fire in the !%ar ended 3 Ilt August 2008. I.I4 VAT ReglstrAtlon As of IIL FebruaTh" 2019 the Grwp is Do ILYyr regita forVAT. ROlIGEmO SCHOOL TRUST I1IrrED FOR THE YEAR ENDED 31 AUGusf2(120 2019 6J25,934 724.883 (320.131) (2W2,570) (121,180) {131228) {1 I,(y)i) (314278) (195.845) (113,869) (129,735) (12,184) Fw di8CQUDts- (784199) (704611) A&1 ba¢k: S¢knlot8hik4 grants etc forby 5,739,735 5,958272 Burarkn £32Q131 w•r• pylto 67 (2019: £314278 to 44 FAwlls> SchoIAnhips totsiliD8 £202.570 to 88 912014. £195.845 to 67 pJpll•) ANCILLIRY TRADING INCOhlE 2019 965 131831 233281 13&431 3.048 14,828 3,175 161,704 238,625 151.659 2JBI 8.067 School tri 525384 567.611 GRANI3 AND DONATIONS 2019 1628 GrantF 31 467.068 3.5IXI 2019 70,608 38,452 86,5 2,667 109.&50 89.167 ROUGEMO SCHOOL TRUST LIED YOTES TO THE FINANCIAL ATm%rS Iconthued) VOR THE YEAR ENDBD 31 AUGU 2020 INVESTMEhT L)COME 2020 2019 STAFF COSTS 2020 2019 Total Jtnffcosls comprlKd: 'ages and salaries Social securits" (osis PeDSiOa contributions RedurthcN' Co 3,825248 351.117 662,680 18.799 3.651047 333,071 430,405 3,814 4,857,844 4,425J37 one of th¢ Goi'ernors rrfeiied on!. remutiernion ¢r other beDefit from the School or from an!. Cottneewd bod%'. N'o reimbunemenrs w'er¢ to during the >ttr (£2019.. Tr4iI) see te L8 for ther derails, 2020 2019 The avera8e number of employees lttthe y¢•r, was as fol]ow3: Teaching stsff 76 73 63 Nwnber of stsff 138 136 The Auber of ¢ryloyees whose emohllnen fir the year fell Thlthin th¢ folloM'in8 wtr¢.' £OO.IXIO- £69,999 £90.000- £99.999 £100,000- £109,999 Emplo%rr pe1{ conttlbudons ftr K•y many Per50twel tcttl £62,629 12019.. £34269) Aggr¢gat¢ ¢tnploiee benefits of Key Mauwent Per1 397.590 365.935 397,590 365,935 Dwing the y¢arTerMI10Tr and rethmdall¢i tA)TreDts wTrlled £16568 (2019.. £3.814) ROUGLMONf SCH(K>L TRUST IJMITED NOTES TO THE FtNANCIAL sfATEMEN75 {eontiR•ed) FOR THE YEAR ENDED31 AUGusf 2020 ANALYS OF EXPENDITURE Depred#llofj Charhabl••xp•1*T•. 5.189 21595 27,784 Tcathin We]fAre 3,799305 145Jiyi 325.452 5W91 201,627 160.838 307J84 564.434 51117 4.053.049 306.145 971,019 1.160,6T2 338.183 16.732 4.851655 1235213 402,947 6,490,885 4,1575 1257,8TI 402.947 &518.669 2019 L4al and NofeMiLMwI fe Teleph(Me4 pkxtage, Jlltionery aThl other clxts 35333 125.836 39,701 234,143 130.421 75.805 113,935 44,620 321.114 117,584 Trwort tr419 includiD8 ld (% 564,434 673.058 2019 786.199 766,611 716.199 706.611 ROuGEM0 SCHOOL TRL'ST LLlfrrED OTES TO THE VINANCIAL STATEMENTS {¢onti•vd) FOR IIIE YEAR ENDED 31 AUGUST 21no YALYSIS OF EXPEIDITURE (eoRiln•ed) Depreclatlon 2019 Charit*bte expendlturv. Raising Funds 17,935 17,935 Te4chiDg Ilelfare 3 J79.667 182,503 323.972 540.103 2tr1.616 166.761 390.448 673.058 64,571 3,611.854 349J64 1,028,196 1231,824 313.776 18.663 spOrt and COSTS 4.426.245 1.437.813 397.010 6,261 138 4.426245 1.455,818 3ty1.010 6.279.073 ET II¥CX)IlfE FOR THE YEAR 2020 2019 Swff pension Contrib10$ Disposlll of f¢d ufjets Depreci8tit)a Atyjitors, remwieraiion.. - 8udit of financial ststernems (exelth8 VAT) .fLY other seNIC (excluding VAT) OFeratin8 lease costs: . PIAnt and Mn¢hiD¢ry 662.680 (4,084) 407.031 436,405 2.380 397.010 21J80 252 53,894 20.455 81,158 ROUGXMoNf8CH(K)L TRUST LIMrrBD NOTES TO THE FINANCIAL STATEMETh {eolltillued) FOR THE YXARENDED 31 AUGUST2Q20' I& TANGIBII FIXED SETS GROUPAND Land BuildiAP DrneAt Motor Farlllkj Ctsmp*kn V•hicl•s Tol•l At I S¢ptwntw2019 I&N755 55.939 907J86 37.616 456.369 8.280 231.791 47.919 13Q468 4250 (11.5401 20518.769 154,023 (11.540) 31 Au8u#2020 11841713 945,(#)2 4.649 279,710 129.179 20.661252 A¢ I S¢pt¢Tnb# 2019 Cbw8¢ for the)*v i.ojom 6n953 SlJ23 262.017 37.719 203.747 14.397 111453 1&732 (lQ8741 1308.178 407,034 (lQ874) At 31 AU•&0 1.337.842 7V6 299.766 211144 1704,338 N•t B00kVtte At 31 Au8uA2020 17J04.8r2 21£726 164,883 61J65 IQ868 17,95&914 31 Au]19 17.rJs.Tn 221433 194,322 24015 18210,J91 Group Cknr 11. DEBTORS 2019 2(119 3,972 54.306 166,743 9.829 6J50 35.399 110.919 3.956 School fe¢8 54J06 166,743 9,829 21,383 35.399 110,919 3.956 33,131 234,850 156,624 252261 183,405 2019 2019 219.610 73.802 237.497 103,729 107250 219,610 73.802 237.497 103,729 107250 222,291 96,712 271.878 124.681 133.548 80,336 68,561 65.561 14,656 96,797 271.878 124,681 133,548 80J36 68J82 70.034 14.656 Autumn 2f120 feej PAid il dwits 39J49 75.617 14.656 39Y9 71J27 14,656 tll,710 I.082.83 867.420 1,07&224 ROUGEMoNf SCHOOL TRusf IJMrrED NOTES TO THE FIClAL STATEMENfs (coJtln•ed) FOR THE YEAR EI¥DED 31 AuGL 2020 13. cREDoR5. Amoints falllxg due *fter wre th olle yur Group Charity 2020 2019 2020 2019 1884.107 fi$9,628 12,169 3.02&805 278,447 26.825 2,884,107 3.026.805 159.628 278,447 12.169 26,525 Adi'ance tee pa)Inent %h¢meg 3.055.904 3J31077 3,o45,9c 3,332.077 Adv*Rcod fee pa)'rneDti: Pents ma!. into a ¢ontra¢t to the sch1 io the equil.erÈt of five }'ears' wition f¢es ia ath•n¢e the 8m¢)uw reeeii'ed forms ptrt of the schools capiraL li is treated AS deferred income. unril ih¢ pupiLs fees become dx wkneupoc the fees for eoch school trrnj ore chBrged a8aiAst the rem•iniD8 balance and tsken to income. .4 di5COWn Trte is at tht contracts iwon and this 18 treated as a dedl1 from the scbool fee income the reki'aDt period. The rnQDe>' ma} be rettmed subj¢¢t to spttific Wndtlith ott the receipt of one wm'j nfflice. Asswllill8 PW)llJ .111 TellM lo the sthl, adv•Ke fees bo wlied qs follow8.. 2020 2019 After S lears ithin2to5ye IITthin I to 2 yeats 99.201 60.427 173.919 104,528 159,628 278.447 'lthin one >'ear 103,729 124,681 263J57 403.128 The balance re• the *cn*4 Ilabi lty under ¢{th¢ •ud th¢ moirJneDts during the itar wrre: 2019 Bthn¢e ai I Semiber 2019 4eii contracts 403.127 (8.256) 186,488 288.378 2,257 397,897 477,123 Amounts utijised in of feu (IY.540) 173.996) Balance at 31 August 2020 263,357 403.127 ROUGEMONT SCH(X)L TRUST IIMITED NOTLS TO THE FINANCIAL sfATEMENTS (¢0•¢l•u) FOR YEAR ENDED 31 AUGusf 2(120 11 EDITORs. amounts *fter mort th•A ome yt•r (eolltlDllèl) Blnk C4MnpAny is dl*kved a• follrn: 2019 1017.663 659.054 201J56 2,195,976 579,507 251,322 within25Ye Withthito2ye 1884.107 3,026,805 219ffj10 222291 3.103.717 3249.096 Llarttarnm Hail atyl LIant*ll Hall Torfw Gwent dated 28 AU 2)6 volued chpty. The IoaD is T1¢ lry 2020 rate of intorert pid is varmble. The h0o1 ¢ntwed into two new loS in 2019, the fll5t is for £2275,IM and bw drnwdown In Septemt*r 2017 and the •e¢oNI is for £1,1,1 whicb be8aD drawthrn in Cktober 2019. Both •ze by * flrat leyl chr8e over the aled ts followj: 2019 Aft¢r 5 Within 2 to 5 yw8 vrjthin I to 2 yeLJ l2.169 14,656 11169 11169 14W6 Wthiin on¢ > 14,656 26,825 41.481 ROUGEM0 SCHOOL TRUST LLMITED liOTES TO THE FINANCIAL sfATEMElYtS (¢oAtl•ued) FOR THE YEAR ENDED 31 AUGLsf 2010 COMMIThiETh UNDER OPERATING LEASES At 31 Augusr 2020 the compam." had tt* folloThiD8 fimu¢ minimum operntitig Pin¢t 45 oui below. The ch the Swement of Financial Artiiiiies in the Itar £78:172 (2019: £78.923). knets otb¢r th• l*Dd and buildlngs 2020 2019 Paym¢nts d¢ In: Less than on¢ year Within 2 10 5 ye 3,147 115,247 78.449 117,867 118.294 196,316 IS. STATEMEKf OF Fuf4DS GROUP Lnmtrl¢t¢d fundj I SEplernber ttteome Expendlt¥re R•'•luAtlo 2019 & Transfers 31 AlUsI 2020 General fvnd> Other reser%'e5 Rel110 reserve 6,841,827 (6.518.669) (323,158) (223.739) 7,433.043 7,229.304 Tot•1 g¢ner•l f•nth 7,453,043 6,841.827 {6,5:8.669) (546.897) f4D Audiiorium & Ref¢ctor¥' fund Fivd Asser Reserve furMI 7.789.651 546.897 8,336,548 Totsl Unr*rtrletsd tllndj 6.841,827 (6,518.669) 15,565.852 ROUGEMONT SCHOOL TRusf IlbflTED N(yfLS TO THE FINANCL4L STATEMENTS {euJtlDued) FOR IEK YL4RENDED31 AUGusf 2020 i& srATEMEi¥T OV FUNDS BAknm¢e at 2019 & Tr$re G•n•ral tsndl &814.iM3 (6.49).885) (323,158) (223,739) 7.453JH3 7229J04 7.453,043 814,043 (6,4W).885) (546,897) 7229204 7,789.651 546,897 8,33A448 15242.694 814.043 (6,490.885) 15,565.832 Cornpr*t fyurej: GROUP AND COMPANY l &pl¢mber l•eow Expendknre Rev•lu•tlots 31 Auiurt Unre8tri¢ttyJ funds 2018 & Tr[eN 2019 GeDer•l flln 619,455 (6379.3) (340,382) Q23.739) 776,782 7,453.043 ??6.7¥2 4619.455 {6279,TrrJ) (564,121) 7.453.1$3 7225530 564,121 7.789.651 14.902J12 6598256 (6279,074) 15241694 new audiicdum and Tefw. At the the iuld pro8res5 and the desi8nated fillmb had Fixed Asset R£s¢rve fimd ~ The fillKi be ¥t wb to s¢pJratety build up balan the net IDC4)me of the thl that aye aval]1¢ fythe K¢Derni ofthe s¢hooL 17. RELATED PARTY TRANsAloNs Ag Rt 31 AW 2020. R]8ex*ff Schwl Limited owyd £33.130 Rwont School pupils at the EchooL These GoTrrm(xs are nL* involved in de¢isioD n8(Se5 rdatiDg to trir ow 31 RQLTC.EMOThT SCHOOL TRU LLMrrED )OTES TO THE FINANCIAL sfATEMENTS {eoutlmua FOR THE YEAR ENDED 31 AUGUST 2020 I7. RELATED PARTY TRANSACTIO.IS {athiutd) GOVernS are not remunerned ftf their duties. hom'ever: thei. v¢ relmbursed travelling costs w attend medings from time TO time. No GoiTrnors [e reinbursed f Izai*l ¢05ts in the !Yqr Thil (2019: Qiil). There '¢re no goi'ernor costs paid to third pwties dwir.g we Irar. RS Green AsxKiai¢s ini'oi¢ed C of £3,¢1 (2019: £15 988) w the School for 'OrkS associated with the refectyv and 4udiiorium neR blding project The Govvnor (Richard Green) is a of RS Green Asso¢iates. No amlyjnts at Iyar end (2019: N4iI). I& RECONCILIATIO.N OF NET LNCOME TO JET CASH LNFLOW FROII OPERATING AcfiviTIES 2019 in¢onk before EliminalioD of non•1 tloThs: d.. interest pal'ab Less: interest receii'able 323,158 340,382 89250 (580) 116.073 (903) 411,827 454.510 Loss on disposal of fixed assets Depreciarion Decrease'(in¢retse) in deirt5 {4.084) 407,034 (78224) (227.650) 4.491 2,380 397,011 (34,l64) 46,332 (5,389) De¢re&se (ithereue) in stock ¢a5b inflow frorn VrniD8 actiiities 513J93 961,720 AIIALYSIS OF CASH ALY D CASH IQLryVILENrs At I Septeober 2019 At 31 Augurt 2020 ca flows Cth in bond and at bank 1284.970 15,834 '1,300.804 1.284.970 15.834 300.804 32 RoUGRMOI SCHOOL TR IJMrrKD FOR ThE YEAR ENDED 31 AUGusf 2020 21. TRADING SUBSIDIARY Rougemort School Thut Limtsed Trx+ld I¢XPA of the sbue apitsj in Rouge SchoDI Arfivities 2020, all profits •Je ¢OVe4M to Sdwl. At th• 31 Avawt 2020 nrt a89#8 of the llpanY ere £2. (2019: £2). 2019 61.518 (8J52) (10,531) (Iross profft 53,166 (41832) 61469 (43,680) Net profit 10,334 24.789 aift Aid (10.334) (24,789) Th• Sclwd li oNTrJ the aid P>ryD6rt of £lQ334 (201* 1¥7B9) frorn School A¢iivitieJ IAmit¢d at 31 Au8lLYé 2020. tmching staff. The pension cbarge for the y¢u iDch¥]t4 contrJlxrtiODg payable to the TPS of £622,657 (2019.. £399.960) thè yer*iyI £ail c)19 . £Nii) x¢n%d ID reJpe¢t of C4tribution# h) 1 Pwsiom BA8ulatlonJ 2010 (as Arnended) The Te4d*rJ' Pewion Regu]•tions 2014 ( nployer being credi*d to the Exchyr. Retir attd otlKr pensityA i¢nefits aTr paid by wblic as at 31 moh 2016 the Valu•tton R¢pxL which WL4 publmlwd in Marcb 2019, e&nfirn the alOYer Cartnll¢l0 r*e for the TPS Mwld inlxew from 16.4% to 23.696 from I September 2019. FlOYerS are a]w rnqured to Py a 5cIKne adminiswon Icvy of O.OW• giviD8 a tLkni employer clxrtributionrte of 23.68%. reBulatiOn8 and under the 4¥r1 Spe¢lfi in thB Directs they wlied at 3 Marcb 2019. 33 ROuGEmOI SCHOOL TRLST L[ED LIOTES TO THE FllYAI¥CIAL STATEMENfs (¢onti*ue41) FOR THE YEAR ENDED 31 AUGUST 2020 PENSION COMMrrMENfs (comtlxaed) On 27 June 2019 the SLyeme Cowt denied the sovan pmisstoti 10 4wI tbe C(NJrt of Ap1.5 judgmellt that transillonai proiisiotts inTroduttd to the refortlled pension s¢hernes in 2015 gw4'e rise to uTrlav4ful age discritlliTWIO The go%Yrnment is respeffling the Cou,5 oecision and bjs $3id it wqll ewge full!. v':'th the Emplmen[ Tnl>unai as V4'ell as emplo)'er and memkn wntytiTre5 w wee how. the discTitr.inations w'ill be remedied. A consulwlon Mxs UnChed . the w'ernment on 16 JuiN' 2020, end closed to respoostt on l l OctLkn2020. The TPS is subje to a ¢ost cap Mechani H'hicb in place ro protect t&xpaN'er$ 48aicst unforeseen chlln8es in sdme Costs. Th¢ Chi¢f Sweiary" w the Trea5Jr%'. baiin8 in 2018 announced that there w'ould be a rNieM' of L4is ¢ost cap Tr.¢cbonism: J8nuBf*' 2019 annout¢ed a PAuse to the cosi cap mechlluism follo%'itig the Cowi of Appeal's Nlin8 in the Mccloud Sorgeani C and Until there 15 cenaintr. abts the i'alue of pensioDS to ernplol'ees froTD April 2015 onywds. The pwJ5e lifted in Jul). 2020 and the go%trnmeni is prepari w compknc the cost coarol element of th¢ 2016 ITluadons, .hi¢h Ts expe¢ted to be compiered in 2021. In vlem. of the al'C rulin8$ and thcision5 the a55WnWions used in th¢ 31 Mllrch 2016 Aruarial Valulllloll beconK ift4pproErntr. ID this scenario, a %u•ll0n prepJr¢d in cOrdanCe w'ith re&ised benefits suTtabh' revised Ossumptio w.1[1 Iield differnt re5ulrs than those contylned in the Actuarial Valuatio Lntil the ¢onsulMion the cost cap meclwiists revie*" ut ¢omplded it IS Dot T>ossible to eottclude on . 8naEcial irnpae. or fullre chkn8es w the contribution rnts of the TPS. Acc(KdioKI!' no proirysion for ' 8<iional post benefit pensiijn cow *s iti¢luded in the8¢ finonciftl statemnrs. on.tea¢hlDg staff are offer¢d m¢mt*tship of S¢thtssh Il'idoM* A defll CODtribuElon s¢home (Group Person&T Pension Pkn). to H'hic the Khool colltribwu beNreft 2•h and 5%. The amount eontributed Into the scheme bi. th¢ emplwrr amounkd to £43,500 (2019.. £38,754.79). Etoployee5 conribute the same rIot 85 th¢ enwlol'er inw the Kheme. There wyre no caFiul at 31 Au8USt 2020 (r 31 Au8115t 2019.