Leehurst Swan Limited
IA Company Llmlted By Guarantee}
Report of the Governors, Strategic Report
and Financial Statements
For the year ended 31 August 2023
Company number: 2306881
Charity number: 800158

Leehursl Swan Limited
Contents
Forthe year ended 31 August 2023
Pa8e
Company infomiatlon
Report of the Governors Ilncludlng Strategic Report)
Report of the Independent Auditors
Statement of Financi31 Attivities
Balance Sheet
ststement of Cash Flow
io
Note5 to the Financial Statèments
li
Detailed Income and Expenditure Account
18

Leehurst Swan Llmltèd
Company Information
For the year ended 31 August 2023
GOVERNORS..
Mr Stephen Spicer
Mr lan McDonald
Mr Douglas Gale
Ms Victoria Hance
Mrs Michele Russell
Mrjonathan Wansey
Interlm Ch•lr
re5igned3 October 2023
resigned31 December2023
HEADTEACHER:
Mrs Mandy Bateman
BURSAR AND COMPANY SECRETARY:
Mrs Lindsay Chater
REGISTERED OFFICE..
19 Campbell Road
Salisbury
SPI 3BQ
REGISTERED NUMBER:
2306881 (England and Wales)
REGISTERED CHARITY NUMBER..
800158
AUOITORS..
F3wcett5 LLP
Chartered Accountants
and Statutory Auditors
Windover House
St Ann Street
Salisbury
SPI 20R
BANKERS..
Barclays Bank plc
216 Hi8h Street
Salisbury
SPI 2YH
50LICITORS:
Wilsons Solicitor5 LLP
Alexandra House
St Johns Street
Salisbury
SPI 2S8
INSURANCE BROKERS:
Marsh Commercial
Belvedere
12 Booth Street
Manchester
M2 4AW

LEEHUR5T SWAN LIMITED
IA COMPANY LIMITED By GUARANTEEI
REPORT OF THE GOVERNORS
FOR THEYEAR ENDED31AUGUST2023
The Governors present their annual report, together with their Strate8ic Report, and the audited financial statement5 of the
company for the year ended 31 August 2023 and confirm they comply with the Charities Aci 2011, the governing document, and
the Charities SORP 2019 IFRS 1021.
PRINCIPAL AIMS
The principal activity of the company in the year under review was the adv3ncement of education of boys and girls. focusslng not
just on academic success but also ensuring development of their mental and physical wellbeing.
The school's main airns are as follows..
To safegu3rd all member5 01 a flourishing, sustainable School, committed tolhe development of good practlce and sound
procedures in all areas of thild protection.
To provide a supportive, nurturing. family-centred school Community based on Christian values, where every child is
valued and encoufa8ed to excel.
ro provide a broad, innovative, and holistic curriculum, focusing on creativity and independent enquiry with high
academic expect3tion5 and achievement.
To place strong emphasis on the individual and their personal development.
To provide a vibrant and inclusive sporling and extracurricular programme.
To adopt a global perspective and encourage1Snks between the school and the wider community.
Tts promote a sell5e of social responsibility and appreciation of the needs and gifis of others.
To equip our pupils with the skills necessary for adult life.
In the reporting period we delivered a well-balanced education through our pre-preparatory. preparatory, ènd senior
departments, providin8 a first-class education to boys and girls from the ages of 4 to 16 years. We provided a stimulating
educational environment that develop5 our pupi15' abilities, competence, and skills. We promoted the academic, moral, and
physical development of our pupils through our academic curriculum, pastoral care. sporting and other activities. We provided
an educational environment where every child was valued a5 an individual and encouraged to develop to their full potential,
building 5elf-esteern and confidence, and an inherent desire to contribute to the wider community. Those students who left over
the period were well prepared to embrace the opportunities. responsibil¢ties. and experience5 of the next 5tège ol their lives.
GOVERNING DOCUMENT
The School is a company Ilmited by guarantee and is Roverned by its Memorandum and Article5 of A550Clation. originally
in¢orporated in October 1988. and last adopted IN 2007.
REVIEW OF ACTIVITIE5 & ACHIEVEMENrs
The results for the year and financial p051tion of the company are ès shown in the annexed flnancSal statements.
OUR OBJECTIVES
Our objectives were set to reflect both our educational aims and the eth05 of the School. In 5ettin8 our objectives the School have
carefully considered the Charity Commission's public benefit guidance.
Our objectives for the year were set in the wider context of providing a financially secure, happy. purptsseful community, based
on Christian values. They intluded..
Educating every pupil to the highest standard each is capable of. whilst being sensitive to
their various stages of developmeTht-
Promoting a sense of Social responsibility and appreciation of the needs and gifts of others..
Celebrating and fostering the unique interest5 and talent5 of each indivitlual..
Providing support to pupils in need of assistance through discounts and bursaries-
Cornmitment to the development of good practlce and sound procedures in all area5 of child protection and safeguarding..
Encouragement of strong link5 between the school and the wideT community.,
Financial ri8our to ensure business survival.
ACADEMIC RESULTS
Pupils in the senior school make excellent pro8ress in preparation lor their GCSE years. The School offer5 a wide range of GCSE
and IGCSE Subjects for pupils to chtsose from and optional sublects include: physics, chemistry, biology, design technology,
omputer science. rnu5ic, PE. drarna, art. photography. history, geography, and modern forei8n lan8ua8es. These are in addition

LEEHURST SWAN LIMvfED
IA COMPAIIY LIMITÉD BY GUARANTEEI
REPORT OF THE GOVERNORS
FOR THEYEAR ENDED31 AUGUST2023
to the core subjects and most pupi15 study ten GCSE subjects over the course of Year 10 & 11. Academlc performance at the end
of Year 11 was excellent, 89Yo of the pupi15 gained five or more GCSES including mathematics. English and sclence and all pupils
8ained place5 at their fifst choice ol sixih-form provider, with most choosing to artend either Bishop Wordsworth School, South
Wilts or Peter Symonds Sixth Form College.
PUBLIC BENEFIT
The governors have complied with their duty to have due regard to the guidance on public benefit published by the Charity
Commission. In exeriising their powers and duties they have considered whether any alterations were required to the School's
policies in re13tion to educational and lee-charging charities.
Leehurst Swan actively pursues a policy of budgeting a proportion ol lee income lor the award of scholarships and bursaries, for
those less able to afford the full fe&5 or for existing parents who fall on hard times. During the past year. a total of E443k117.3%
of fee income) was rebated in the form of scholarship5, bursaries and discounts to siblings and staff.
The Walker Hall. as a specialisr auditorium hall, with fold away sealing, served local dance, drama and musical group5.
The School choir performs for vi51tors from local care homes as well as performing in their residence for those less able to get to
the school. The choir performs for charity events including the market place and the City Hall. The School aims to engage and help
the local community by providing work experience place5 for Year 10 pupils from local malntained schools.
GOVERNORS, INDUCTION AND TRAINING
Governor skills and attribute5 are assessed regularly to ensure the make-up of the board piovides the levels of support and
knowledge required, and so that governor recruitment targets ary skills gaps.
There are a wide range of competencies across the governing body, it includes those with expertise in education,. a former head
teacher. an enEine&ring director. HR, forrnersenior police officer and a multiple busines5 owner. Afterappointment new governors
are 311ocated to 5ub-committeelsl, th3t align to their ski115. experience. and Qualifications.
Governors are encouraged to attend regional seminars organised by their professional body.. AGBIS. Other semSnars attended
include those organ15ed by local firms and organisations on a variety of relevant topics and issues such as Charity Law and
Employment Law updates. Governors have access to various regular bulletin5 and reports through education and governance-
based a550ciations.
ORGANISATION
The Eovernors of the school act as dSrecrors and truslee5 01 the charitable company. The governors include'Guardi3n Governor5,
who are responsible for the protection of the character and ethos ol the school. The name5 of persons who served as governors
are givon in the attached Report of the Governors. Strategic Report and Financial Statements. The day lo day running of the
Schotsl is devolved to the head, supported by the bursar and the senior managernent team.
ACCESS AND ADMISSIONS POLICY
Leehur5t Swan School is 3 selective school which welcomes pupils from all backgrounds. Prior to admission. prospective pupils are
assessed to provide the School with a snapshot of performance which contributes to the raft of evidence collected before a place
is offered Places are only offered onee the school has a full picture ol an individual's ability and potential across the breadth of
the curriculum. Entrance Interviews, references and assessments are undertaken to sat15fy these requirements and ensure
potential pupils can cope with the pace of learning and benefit from the education provided. An individual's economic status.
gender. ethnicity, race. religion, or disability do not fofm parr of the assessment process.
FUTURE DEVELOPMENTS
The GoveinoTS continue their commitment to developing the quality of every aspect of the school. The School continues to invest
heawily in the professional development of the staff, the school'5 rnajor asset, curriculum innovation and the school's site and
infrastructure.
GOVERNORS
The governors ol the school in office at 31 August 2023 were as shown in the attached Report of the Governors. Strategic Report
and Financial Statements.
The Board of Governors is a 5elf-appointed bodv.

LEEHURST SWAN LIMITED
IA COMPANY LIMETEO BY GUARANTEEI
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31 AUGUST 2023
THE FINANCIAL RESULTS
A profit of £119,129 was rnade during the year.
INVE￿mENT POWERS
These are governed by the Memorandum and Articles of Association which include the power to delegate to Investment
Manager5.
RESERVES POUCY
The School doe5 not carry free funds. It 15 the policy of the governors to apply any operating surplus to the development and
improvement of the fabric and facilities ol the school.
RISK MANAGEMENT
The major risks to the School as identified by the governor5 have been reviewed and systems have been established to mitigate
those risk5. Reviews are carried out regularly throughout the year. through all the Governance meetings. Risk review 15 a standing
item on every agenda.
STATEMENTOF GOVERNORS, RESPONS181LfTIES
Law appSicable to incorporated charities in En8land and Wales require5 the Governor5 (who are a150 the direcrors of the company
and trustees of the charity) to prepare financial statements for each financial year which give a true and fair view of the State of
affairs of the company and of its financial activit1£5 for that period. In preparing those financSal statements, the Governors are
reouired to..
Select suitable accounting policies and then apply them consistently.,
Make judgements and estimates that are reasonable and prudent..
Statewhether applicable accounting standards have been followed. subject to any material departures disclosed
and explained irn the financial statements,.
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
company will continue in operation.
The Governors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the
rinaHcial position of the company and to enable them to ensure that the financial staternents comply with the Companies Act
2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the
prevention and detection ol fraud and other irregularities.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDtroRS
So far a5 the Governors are aware, there is no relevant audit information la5 defined by section 418 of the Companies Act 20061
of which the compan¢s auditors are unaware. and each Governor ha5 taken all the steps that he or she ought to have taken as 3
Governor in order to make himself of herself aware of any relevant information and to establish that the company's auditors are
aware of that information.
AUDITORS
The auditors. Fawcetts LLP. will be proposed for re-appointment at the forthcoming Annual General Meeting.
ON BEHALF OF THE BOARD OF GOVERNORS:
The governor5 lin their capacity as director5 of the company and trustees of the charity) approve the Report of the Governors and
the Strategic Report lor the year ended 31 August 2023.
stephen Splcer- Chair of Governors
Dated..

Report of the Independent Auditor5
To the Members of
Leehurst Swan Limited
Opinlon
We have audited the financial statements of Leehurst Swan Limited (the 'charitable companWI for the year ended
31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet. the Statement of Cash Flow5 and
related notes, including a summary of significant accounting policies. rhe financial reporting Irarnework that ha5 been
applied in their preparation is applicable law and United Kingdom Accounting Standard5, including Financia1 Reporting
standard 102 'Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" Iunited Kin8dom Generally
Accepted Accounting Practice).
In our optnion the financial statements..
give a true and fair view tsf the state of the charitable company's affairs as at 31 August 2023 and of its incoming
resources and application of resources, inclduing its income and expenditure, lor the year then ended..
have been properly prepared in accordance with Uriited Kingdom Generally Accepted Accounting Pract*ce.' and
have been prepared in accordance with the requirements of the Companies Act 21)06.
Basis for oplnlon
We conducted our audit in accordance with International Standards on Auditillg IUKI IISAS IUKII and applicable law. Our
responsibilitie5 under those standards are further described in the Audltor's responsibilities lor the audit ol the financial
statement5 Section of our rèport. We are independent of the charitable company in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK. includin8 the FRC'S Ethical Standard and
we have fulfilleij OLJr other ethical responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtained 15 Sufficient and appropriate to provide a basi5 lor our opinion.
Concluslons relating to going concern
In auditing the financial statements, we have concluded that the governors, use of the going concern basis of accounting in
the preparation ol the financial statements 15 appropriate.
Based on the work we h8ve performed, we have rnot identified any material uncertaintie5 relating to events or conditions
th3t. individually or collectively. may cast Significant doubt on the charitable company's ability to continue as a going
concern for a period ol at least twelve months from when the financial statements are authori5ed for issue.
Our responsibilities ènd the responsibilities of the trustees w¢th respect to going concern are described in the relevant
sections ol thi5 report.
Other Information
The other information comprise5 the information included in the Report of the Governors. other than the finaneial
statements and our auditoes report thereon. The Governors are responsible lor the other information. Our opinion on the
financial statements does not cover the other information and. except Lo the extent otherwise explicitly stated in our
report, we do not express any form ol assurance conclusion thereon. In connection with our audit of the financial
statements. our responsibility is to read the other information and. in doing so, consider whether the other information is
materially inctsnsistent with the financial Statements or our knowledge obtained in the 3udit or otherwise appears to be
materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are requlred to
determine whether there is a material misstatement in the financial statement5 or a rnaterial misstatement of the other
information. If, based on the work we have performed, we conclude that there is a material misstatement ol this other
information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters preKribed by thè Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Report of the Governors. which includes the Report of the Director5 prepèred for the
purposes ol company law, for the financial year for which the financial statements are prepared is con515tent with the
financial sratements., and
The Report of the Directors included within the Report ol the Governor5 has been prepared in accordance with
applicable legal requirements.

Report of the Independent Audltors
To the Members of
Leehurst Swan Limited
Matters on which we are requlred to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of
the audit, we have not identified material mi55tatement5 in the governors. report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to
report to you if, in our opinion..
adequate accountirig records have not been kept, or returns adequate fgr our audit have not been received from
branches not visited by us,. or
the financial statements are not in agreement with the accounting records and returns., or
certain disclosures of Members of the Governors remuneration 5peofied by law are ntst made., or
we have not received all the information and explanations we require for our audit.
Responsibilities of the Governors
As explained more fully in the Statement of Governor's Responsibilities. the Members of the Board of Govemors (who are
also directors of the charitable company lor the purpose5 of cornpany law are responsible for the preparat￿on of the
financial statements and for being satisfied that they give a true and fair view, and for such internal control as the
Governors determine is necessary to enable the preparation of financial statements that are free from material
misstaternent whether due to fraud or error.
In preparing the financial statements, the Governors are respon51ble for assessing the charitable compan￿5 ability to
continue as a going concern, disclosin& as applicable. matter5 related to going concern and usin8 the going concern basls of
accounting unless the Governor5 elther intend to liquidate the charitable company or to cease operation5, or have no
realistic alternative but to do so.
Audltor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the linanaal staternents as a whole are free from
material misstatement, whether due to fraud or error, and to Issue a Report of the Auditor5 that include5 our opinion.
Reasonable assurance is a high level of assurance, but 15 not a guarantee that an audit conducted in accordance with ISAS
IUKI will alw3Y5 detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these linanciol statements.
Identifylng and assessin8 Potential risk5 related to irregulzrities
Irregularities, Including fraud, are non-compli3nce with law5 and re8ulations. We design procedures, in line with our
responsibilities, as set out in the auditor's responsibilities for the avdit of the financial statements section, to detect
material misst3tements in respect of irregularities. including fraud. The extent to which are procedures are capable of
etectin8 irregularities. including fraud. are detailed below.
In identifying and assessing risks ol rnaterial misstatement in respect of irregularitie5. including fraud and non-cornpliance
with laws and regulations we consider the following..
the nature of the charity sector, control environment and financial performance-
results of our enquirie5 of management about their own identification and assessment of the risks of irregularities.,
• any matters we identified having obtained and reviewed the charity's documentation of their policies and procedures
relating to..
identifying. evaluating and complying with laws and re8ulations and whether they were aware of any instances of
non-compliance.,
detecting and responding to the risks of fraud and whether they have knowledge of any actual, Suspected or alleged
fraud,.
the internal mntrols established to mitigare risks ol fraud or non-compliance with laws and re8ulations
the matter5 discussed among the audit engagement team regarding how and where froud mi8ht occur in the financial
statements and any potential indicators of fraud.
A5 a result of these procedures, we considered the opportunitie5 and incentives that may exist within the organisation for
fraud and ideniifleé the 8reatest potential for fraud in the following area.. revenue and re50urc£ recognition. In common
with all audits under ISA5 IUKI, we are also required to perform specific procedures to respond to the risk of management
override.

Report of the Independent Audltors Icontinuedl
To the Members of
Leehurst Swan Llmlted
We have also obtained an understanding ol the legal and regulatory frameworks rhat rhe charity operates in. focusin8 on
provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures
in the financial statements. The key laws and regulations we considered in this context included the UK Charitie5 Act and
Audit response to risks identified
As a result of performing the above. we identified revenue and resource recognition as a key audit matter related to the
potential risk ol fraud. Our procedure5 to respond to risks identified included the following..
• reviewing the financial statement disclosures and testing to supporting documentation to a5se5s compliance with
provisions of relevant laws arid regulations described as having a direct effect on the financial 5taternents',
• understanding the group's revenue recognition policie5 and how they are applied. including the relevant controls and
performing a walkthrough to validate our understanding.
enquiring of management concerning actual and potentlal Ilii£atlon and claims.,
performing analytlC81 procedure5 to compare revenue recognised against expectations and based on past experiences
and managernent forecast5 and investiEated material divergencies by obtaining corroborative evidence.
• reading minutes of meetlngs ol those charged with governance.,
• in addre55in8 the risk of fraud through management override of controls. testing the appropriateness of journal entries
nd other adjusiments,. applying parameters designed to identify entries that were not within our expectations. This
included analysing and selecting journa15 for testirig which appeared unusual in nature, either due to size, preparer or date
of posting. To test their validity, we verified the journals to originating documentation.
We also communicated relevant identified laws and regulations and potential fraud risks to all en838ement team members
and remained alert to any indications of fraud or non-compliance with laws and regulation5 throughout the audit.
Owing to the inherent lirnitation5 of an audit, there is an unavoidable risk that we may not have detected some material
misstatements in the financial statements, even though we have properly planned and performed our audit In accordance
with auditing standards. For example, the further removed non-compliance with laws and regulations lirreÉularitiesl is
from the events and transactions reflected in the financial staternents. the le55 likely the inherently limited proced(Jres
required by auditing srandards would identify it. In addition, as with any audit, there remained a higher risk of non-
detection of irre8ul3rities. as these may involve collusitsn, forgery, intentional omissions, misrepresentation5. or the
overdde of internal controls. We are not responsible for preventin8 non-compliance and cannot be expected to detect non-
compliance with all laws and regulations.
A further description ol our responsibilities ftsr the audit ol the financial statement5 is located on the Finantial Reporting
Council's website at.. www.frc.org.uk/auditorsresponsibilities. This description form5 part ol our Report of the Auditors.
Use ofour report
This report is made solely to the charitable company's members. as a body, accordance with Chapter 3 01 Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we rnight State to the charitable company's members
those matters we a￿ required to state to them in a Reporl of the Auditors and for no other purpose. To the fullest eKtent
permitted by law, we dts not accept or assume responsibility to anyone other than the charitable company and the
charitable company's members as a body. for our audit worl for this report, or for the opinions we have formed.
Simon Ellingham BA FCA DChA Isenior Statutory Auditor)
for and on behalf of Fawcetts LLP
Chartered Accountants & Statutory Auilitors
Windover House, St Ann Street
Salisbury
SPI 2DR
Date..
30 January 2024

Leehurst Swzn knmittd
Statement of FinantÉal Activitles
For the
ear ended 31 August 2023
2023
Total
2022
Total
INCOMEAND EXPENDITURE
Unrestricted
Restricted
Note
INCOME AND ENt)OWMENTS FROM..
Charitable activities=
School fees receivable
Other tncome
2.118.397
82,000
2,118.397
82.000
1.797.741
62,314
Investment Income
Total Income
2,200,397
2,200,397
1,860.055
EXPENDITURE ON..
Charitable activities
2.081.268
2,081.268
1.965.142
Total expendlture
2,081,268
2.081,268
1,965,142
NET INCOMEIIEXPENDITUREI
119.129
119.129
1105.0871
RECONCILIATION OF FUNDS..
Total funds brought forward at I September 2022
3.083.263
3,083.263
3.188,350
TOTAL FUNDS CARRIED FORWARD ai 31 Au8USt 2023
3.202,392
3.202,392
3,083.263
CONTINUING OPERATIONS
None of the charitable company's artivities were acqulred or discontinued during the current and previous years.
The notss form part of these financial statements

Leehurst Swan Llmited
(Company number.. 023068811
8alance Sheet
As at 31 August 2023
2023
2022
Note
Fixed assets
Tangible fixed assets
3.873.344
3,986,010
Current assets
Stock
Debtors
Cash at bank and in hand
15,240
37,900
785.471
63,934
584.025
Creditors.. Amounts due within one year
io
679,984
555,965
Net current 35sets
158.627
91.994
Total assets lèss turrent Ilabllltles
4.031.971
4.078,004
Creditors.. Arnounts due after more than one year
li
829,579
994,741
NET ASSET5
3.202.392
3,083,263
Funds
Unrestricted funds..
3.202,392
3,083,263
TOTAL FUNDS
3,202,392
3.083.263
The financial statements were approved and authorised for issue by the Governors and were signed on its behalf
by..
Stephen Spiter- Chalr of Governors
Date..
9GZ
The notes form part of these financial statements

Leehurst Swan Limited
Statement of Cash Flow
Fgr the year ended 31 August 2023
2023
2022
Notes
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash prowded byllused inl operatin8 activities
364,182
11,300
Cash flows from investing activities-
Purchase of tangible fixed assets
Proceed5 on sale of tangible fixed assets
19.9921
15,5101
Net tash prowded byllused inl investing activities
19,9921
15,5101
Cash flows from financing activilie5'.
Repayments of borrowing
Cash inflows from new borrowing
1152,7441
196,2651
Net cash provided byllused inl financing activities
1152,7441
196,2651
CHANGE IN CASH AND CASH EQUIVALENTS FOR THE YEAR
201,446
190,47SI
Cash and cash equivalents brought forward
584.025
674.500
CASH AND CASH EQUIVALENTS CARRIED FORWARD
AT 31 AUGUST
785,471
584,025
al Reconciliation ol net Incomellexpenditurel to net cash flow from operating activitie5
2023
2022
Net income/lexpenditurel for the year a5 per the
Statement of Finèncial Activlties
119,129
1105,0871
Adjusted for..
Depreciation
IProfitl/loss on disposal of tangible fixed assets
Ilncreasel/decrease in Stock
Ilncreasel/decrease in debtors
Increase/ldecreasel in credito
122.658
128,527
115,2401
26.034
111,601
49,588
161,7281
Net cash (used inllprovidÈd by operatlng artivltles
364,182
11,3(KJ
bl Analy515 of cash and cash equlvalents
2023
2022
Cash at bank and in hand
785.471
584,025
584,025
785,471
io

Leehurst Swan Llmlted
Notes to the Flnanclal Statements
For the year ended 31 August 2023
Accounting policies
A summary of the principal accounting policies adopted, which have been applied consistently, are set out
below..
1.1 General informatlon and basis of preparation
Leehurst Swan limited is a company limited by guarantee incorporated and registered in England and Wales.
The School con5titute5 a Public 8enefit Entity as defined by FRS 102. The financial statements have been
prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable
In the United Kingdom and Republic of Ireland IFRS 1021 (effective l January 20191- (Charities SORP 2019 IFRS
10211, the Charities Act 2011 and the Companies Act 2006.
The financial statement5 are prepared on a 8oin8 contern basis under the historical cost convention. modified
to include certain iterns at fair value. The financial statements are prepared in Sterling 1£> which is the
functional currency of the charitable companv,
1.2 Funds
The School's funds con515t of unrestricted and restricted amounts. The School may use unrestricted amounts
at its discretion. Designated funds compnse unrestricted funds that have been set aside for particular
purposes. Restricted fund5 can only be used for a particular purpose as specified by the donor.
1.3 Incomint rèsources
The income and net incoming resources are attributable to the one principal activity ol the charitable
cornpany.
Fees and similar income
Fees receivable and charges for services and use of premises are accounted for in the period in which the
service is provided. Fee5 receivable are stated after deducting allowances, scholarships and other remissions
allowed by the school.
Donations, legacles and fund a¢countin£
Donations and legacies received lor the general purposes ol the school are included as urirestricted funds.
Donations and legacies for activities restricted by the wi5he5 of the donor are taken to-restricted funds- where
these wishes are legally binding on the Governtsrs.
1.4 Expenditu
All expenditure is included on an accruals basis and is reco8nised when there is a legal obligation to p3y lor
expenditure. All costs have been directly attribured to one ol the functional categories of resource5 expended
in the SOFA. The irrecoverable element ol VAT is included with the item of expense to which it relètes.
li

Leehurst Swan Llmlted
Notes to the Flnanclal Ststements
For the year ended 31 August 2023
Actounting pollcies Icontlnuedl
1.5 Tangible flxed assets and depreciation
Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low
value with a short life. Repair, renovation and replacement expenditure 15 written off as expenditure in the
statement of financial activities. The cost of fixed asset5 IS their purchase c05t, together with any incidental costs
ol acquisition. Depreciation is calculated to write off the cost of tangible fixed assets, less their estirnated residual
values. over the expected useful live5 01 the a55ets concerned. The principal annual rates used for this purpose
are..
Lènd
Freehold property
Fixtures and fittings
Motor vehicles
not depreciated
between 2% and IO% on cost
20% reducing balance OT 33.33% on cost
25% on reducing balance
1.6 Delrt0r5
Debtors are measured at their recoverable amount.
1.7 Stock
Stocks of uniform are valued at the lower of c05t and r¥et realisable value. after making due allowance lor
obsolete items.
1.8 Credltors and provlslons
Creditors and provisions are recognised where the company has a present obligation resulting from a past event
that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can
be measured or estimated reliably. Credltors and provisions are norrnally recognised at their settlement amount
after allowing lor any trade discounts due.
1.9 Taxatlon
The
1.10 Flnanclal Instruments
The School only has financial as5et5 and financial liabilities ol a kind that qualify a5 basic financial instruments.
Basic financial instTUmernts are inltially recognised at transaction value and subsequently measured at their
settlement value.
1.11 Advance fees scheme
The school offers parents the opportunity to pay for tuition lees in advance. The money rnay be returned subject
to specific conditions on receipt of one term's notice. These fees a￿ treated a5 deferred income and the fee for
each school term is charged against the remaining balanie and taken to income.
1.12 Operating lease5
Rentals paid under operating leases are charged on a time basis over the lease term.
1.13 Penslon costs
The School'5 teaching staff have the option to be members of a pension scherne which is tsperated by the
Teachers, Pen5ion5 Scheme. Thls is a multi-employer pension scheme. It is not possible to identify the School's
share of the underlying assets and liabilities of the scheme on a conslstent and reliable basis and therefore. as
required by FRS 102, the School accounts lor the Scheme as il it were a defined contribution scheme.
Contributions, which are in accordance with the recommendations of the GovernmeNt Actuary, are charged in
the perioé in which the salaries to which they relate are payable. For non-teaching staff, the School contribute5
to a defined contribution group personal pension plan.
12

Leehurst Swan Umlted
Notes to the Financial Statéments
For the yezr ended 31 August 2023
Fee$
2023
2022
Fees receivable consist of..
Gross lees
Less.. Total bursaries, grants and allowances
2,562,760
1444,3631
2,118,397
2.155,083
1357,3421
1.797,741
2,118,397
1.797,741
Sundry and other income
2023
2022
Lettings
Sundry Income
49.152
32,848
35,265
27,049
82,000
62.314
Staff Costs
2023
2022
Wages and salaries
Social security costs
Other pension costs
1.211.936
107.526
225,034
1,544,496
1,119,770
93,297
213,743
1,426,810
The avera8e number of employee5 during the year was as follows..
Heodcount
2023
Full-time equivalent..
2023
2022
2022
Teaching
Non-teaching
32
19
51
28
19
47
25
14
39
22
14
36
There were no termination payments made durin8 the year12022- £Nill.
None of the governors. nor persons connected with them received any remuneration or other material benefits
from the school or any ctsnnetted organisation.
The key management personnel of the school comprise the Governors, the Head and the Bursar. The total
remLJneration of the key management personnel wa5 £140.50712022- £120,4651.
The number of employees whose emolument5 exceeded £60,000 w@re'.
2023
2022
£60,001- £70,000
£70.001- £80,000
13

ieehunl Swon Umlted
Note5tothe Flnancial Statements
Fofthe yearended 31A¥gust 2013
Analysis of expenditure
20Z3
Total
2022
Total
stsflcosrs
oiher
Depredatlon
Charitable activit¢e5'.
Schod operatlngcosts
Teaching
Premises
Support costs of schoollng
1,334,659
118.468
91.369
69,149
165.445
115,137
LI,202
106,297
5,160
1.415.010
390,210
211,666
1,328,177
350,883
247.360
1,544.496
349,731
122,659
2,016,886
1.926.420
GOverna￿e costs
1,544.496
349,731
122.659
2,016,886
1,926,420
FinaneÈ and other costs
64,382
64,382
38.722
Total rÈsources expended
1,544.496
414.113
122,659
2,081,268
1,965,142
Tan8lble Flxed Assets
Freèhold
Property
Flxtures and
f￿￿n8$
Motor
vehKles
Total
At I September 2022
Additions
Disposa15
At 31Au8USt 2023
5,786,169
370,128
9,992
24,006
6.180.303
9,992
5.786.169
380,120
24,006
6.19).295
Depreciatiorb
At I SeplEmber 2022
Charge for the year
Di5P053ls
At 31 August 2023
1,861.610
106,298
312,200
15.480
20,483
2,194.293
122.658
1.967.908
327,680
21.363
2.316.951
Net bookvalu
At 31Augv512023
3,818,261
52.440
2,643
3,873,344
At 31 August 2022
3,924,559
57,928
3.523
3.986.010
The cost of freehold wopeny Indudes land of £319,408which 15 not bÈin8depieciated.
2023
202Z
Uniform stoc
15.240
Debtors: Amount5 fanln8due wlthln one year
2023
2022
Trade debt¢rs
Other debtors
24,610
13.290
49.591
14.343
37.9(M)
63,934
10. Credltors.. Amount5fallingdve wlthlth one year
2023
2022
88nk loansand overdrafts Isee note 121
Deferred income (fees paid in advance)
Autumn 2023 fees
Advance fee5 scheme (see note 181
Oiher creditor5
Accrued expen5e5
ISZ.744
137,326
417.152
340.927
18,991
48,011
10.7JO
555,965
98,988
li.l(M)
679.984
14

Leehur5t Swan Llmlted
Notes to the Financlal Statements
For the year ended 31 Au
ust 2023
11. Creditors- Amounts fallln8 due after more than one year
2023
2022
Bank loan5 Isee note 121
Fee deposits
782,829
46,750
829.579
950.991
43.750
994.741
12. Obllgatlons under leasing agreements
The total future minimum payments due on lea5e5 expiring..
2023
2022
Motor vehitles:
Expiring..
Between one and live years
23.848
36,600
13. Loans and overdrafts
An analysis of the maturity ol loans and overdrafts 15 given below..
2023
2022
Amounts fallin8 due within one year or on demand..
Bank loan
152.744
137.326
Amounts fallin8 due between one and two years..
Bank loan- 1-2 year5
152,744
137.326
Amounts falling due between two and live years..
Bank loan - 2-5 year5
411.978
411.978
Amounts falling due over five years..
Bank loan- over S years
218,107
401,687
There are three bank loan5. all repayable by instalrnents over 20 years. One loan is repayable at a fixed
interest rate of S.5% per annum and the other two loans at base rate + 3% per annum.
14. Secured debts
The following secured debts are included within creditors..
2023
2022
Bank loans
935,573
1,088,317
The bank loan5 are secured by a first legal char8e over the freehold property of the School.
15

Leehur5tSwan LFmited
Notesto the Financial Statements
For the year ended 31 August 2023
15. Pension commitments
The company makes contributions to a defined benefit scheme operated by Teachers, Pensions on behalf of
some of the teachin8 Staff. The company also makes contributions to money purchase pension schemes on
behalf of non-teaching stalf.
The total pension cost for the school wa5 £225,03412022- £213,743) of which £71.86612022 £57,333) relates
to the money purchase pension scheme.
Teachers, Pension Scheme
The School participates in the Teachers, Pension Scheme (England and Wales) I'the TPS'I for its teaching staff.
The pension charge for the year includes contributions payable to the TPS of £153,16812O22- £156.4101.
The TPS is an unfunded multi-ernployer defined beneflts penslon scherne governed by The Teachers. Penslons
Regulations 2010 las amendedl 8nd The Te8cher5' Pension Schetne Regulations 2014 las amended). Members
contribure on a "pay as you go- basis with contributions from members and the employer being credited to the
Exchequer. Retirernent and other pension benefits are paid by public funds provided by Padiament.
The employer contribution rate is set by the Secretary ol State following scheme valuations undertaken by the
Government Actuarfs Department. The most recent actuarial v31uation ol the TPS wa5 prepared a$ 8t 31 March
2016 and the Valuation Report, which wa5 published in March 2019, confirmed that the employer contribution
rate for the TPS would increase from 16.4% to 23.6% Irorn I September 2019. Employer5 are also required to
pay a Scheme 4dministration levy of 0.08% giving a total employer contribution rate of 23.68%.
The 31 March 2016 Valuation Report was prepared in accordance with the beneflts set out in the scheme
regulation5 and under the approach specified in the Directions. as they applied at 5 March 2019. However. the
assumptions were considered and Set by the Department for Education prior to the rulinE in the
'McCloudlSargeant case,. This case has required the courts to consider cases regarding the irnplementation of
the 2015 reforms to Public Serwce Pensions including the Teachers, Pensions,
On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appe31'5
judgment that tran51tional provi5ion5 Introduced io the reformed pension scheme5 in 2015 gave rise to unlawful
age discrimination. The government Is respectln8 the Court's decision and has said it will engage fully with the
Employment Tribunal as well as employer and member representatives to agree how the discriminations will be
rernedied.
The TPS is subjett to a cost cap rnechanisrn which was pul in place to protect taxpayers against unforeseen
change5 xheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a
review ol this c05t cap mechanism, in January 2019 announced a pause to the tost cap mechanism following the
Court of Appeal'5 ruling in the McCloud/sargeant case 8nd until there is certainty about the value of pensions to
employees from April 2015 onwards.
In view of the above rulin8s and decisions the assumptions used in the 31 Marih 2016 Actuarial Valuation may
become inappropriate. In this scenario, a valuation prepared in accordance with revised benefits and suiiably
revised assumptions would yield different re5uItS than those contained in the Actuarial Valuation.
Until a remedy to the diserimination conclusion has been determined by rhe Employment Tribunal it is not
possible to conclude on any financial irnpact or future changes to the contribution rates of the TPS. Accordinglv
no provision for any additional past benefit pen510ll tosts is included in these financial statements.
16

Leehurst Swan Llmlted
Notes to the Financlal Statements
For the year ended 31 Avgust 2023
16. Company Status
The company is limited by guarantee and has no share capital. The company 15 re8lStered in Englanil. The liability of
the member5 in the event of a wirnding up 15 limited by guarantee to an amount not exceedin8 £2 per member. At the
balance Sheet date there were 5 member$12022- 61.
17. Allotation of the charlty net assets
The net assets are held for rhe VafiOUS funds as follows..
Fixed assets
Net current
assets
Long term
Total
Unrestricted funds
Restricted funds
3,873,344
158,627
1829,5791
3,202,392
3,873.344
158,627
1829.5791
3.202.392
18. Advance fee payments
2023
2022
Assuming pupils will remain in the school, advance fees will be applied as follows..
Within 2 to S years
Within I year (included in deferred intomel
18,991
18,991
Balan￿ at I September 2022
Advances in the year
Amounts utilised in payments of lees
18.991
41,664
118,9911
122.6731
Balano at 31 August 2023
18,991
17

Leehurst Swan limited
Detsiled incorne and expendlture account
For the
ear ended 31 August 2023
2023
2022
Income..
School fees
Les5:
Scholarships
Bur5arie5
Staff discounts
Sibling discounts
Early years grants
2,562.760
2,155,083
148.577
160.036
120,338
14,493
919
151,497
110,352
85,168
12,316
11.9911
444,363
357,342
2.118.397
1,797,741
Other income
Registrations
Lettings
Wrap around care
Sundry receipts
Tran5POrt admin charge
Bank interest receivable
4,500
49,152
5,236
8,677
6,812
7,623
5,850
36,767
11,029
8.182
486
82,000
62,314
2,200.397
1,860,055
Expenditure
Curriculum
Payroll
Departmental expenses
Ict support
1,334.659
57,407
11,742
1,403.808
1,243,337
54,018
10,858
1,308,213
Administration
Staff - payroll
Consumables and sundries
Equipment
Telephone, photocopier and postage
Subscriptions and licences
Staff advertising
Advertising
Hospitality
Training and general
Le8al and professional lee5- general
91,369
8,804
8,208
15,089
7,618
7,249
28.872
3,608
14,201
36,728
221,746
93.604
7.502
7,508
18,109
10,843
5,734
16,898
3,744
30,511
45,864
240,317
Carried forward
1.625.554
2,200,397
1.548.530
1.860,055
18

Leehuist Swan Llmlted
Detalled income and expenditure account
For the year ended 31 August 2023
2023
2022
Brought forward
1,625.554
2,200.397
1,548,530
1,860,055
Establishment
Staff payroll
Rent
Rates and water
Insurance
Light and heat
Building repairs, alterations and refurbishnent
ICT upgrades
Cleaning Supplies and coll5umables
Contact grass Cutting and tree work
Repairs and renewals
Transporr
Security and fire
118.468
89,869
933
27,316
25,960
34,536
16,745
357
6.026
4.220
206
35,238
3,254
244.660
34.488
33,004
34,326
18,109
5,794
5,733
2,420
28.344
3,227
283,913
Finance costs:
8ank loan interest
64.382
38,722
Other expenditure
8ad debts
Uniform closing stock
4,703
115,2401
115,2401
4.703
1.958.609
1.836,615
241,788
23,440
Depreciation
Freehold property
Fixture5 and fittings
Motor vehicles
106,297
15.481
881
106.223
21.130
1.174
122,659
128,527
Net SurplusllDefititl
119,129
1105.0871
19