COMPANY REGISTRATION NUMBER: 0243S643 CHARITY REGISTRATION NUMBER: 803492 Grangewood Educationau Associatlon Company Limited by Guarantee Unaudited Flnancial Ststements 31 August 2022 GE GSO Chartered Accountants Camburgh House 27 New Dover Road Canterbury Kent CT13DN
Grangewood Educational Association Company Llmltad by Guarantee Financlal Ststements Year ended 31 August 2022 Pago Trustees, annual report (Incorporating the dlrectors, report) Independent examiner's report to the dlrectors Statement of financial actlvities (includlng income and expenditure account) Statement of financial position Statement of cash flows 10 12 13 14 Notes to the financial statements 15 The followlng pages do not form part of the flnanclal ststements Detailed statement of financlal activltles 25 Notes to the detailed statement of financial actlvities 27
Grangewood Educational Associatoon Company Llmlted by Guarantee Trustees, Annual Report (Incorporatlng the Dlrector8' Report) Year 8nded 31 August 2022 The dIlor8, who are also the dSreclors for the purp08es of company law, present thelr report and tho unaudited financlal stslements of the charity for the year ended 31 August 2022. Reference and admlnlstratlve dgtall$ Grangewood Educational Assoclallon Roglsterad ¢harlty name Charlty reglstratlon numbèr Company raglstratlon number 02435643 Prlnclpal office and reglst8red Grangewood Independent School offlce Chester Road Forest Gale London E7 8QT 803492 Th8 dlrectors Mr J Agyeman Mr T Mpambawahle M8 J E E Jarvis Indopendenl gxamln8r Andrew COllr Camburgh House 27 New Dover Road Canterbury Kent CT13DN
Grangewood Educational Association Company Llmited by Guarantee Trustees, Annual Report (Incorporatlng the Dlrectors, Report) (contlnuedj Year ended 31 August 2022 structure, governanc8 and management The Charlly Is controlled by Ils Memorandum and Articles of Assoclallon and constilules a limited oompany, Ilmlled by guarantee as defined by the Companles AGI 2011, The Councll of Management, who were the trustees and dlreclors who served throughout the year September 2021- August 2022, were.. Mr J. Agyeman (Chalrl Ms J. JaNi8 ITruslo8 l Dire¢lorl Mr T. Mpambawahlo (Tru8teo l Director) The 3 year turnaround plan implemented by the new Iruslee8 had resulted In langlble improvements in the charity'8 flnancos afler the first y98r, a8 the annual def5cil had been reduced by nearly 500/0, our pupil numbers were increaslng al a steady rale and Incoma from non-core activities had also increased slgnificantly, Desplte the unprecèdenl8d events of the global pandemic and resulting impact on the education of children and young people 8cros$ the UK, the wellbeing, mental health and a¢adernlc prog$$ of our students ha8 been paramount, However, the support of our parents h85 b8en cruclal during these challenglng timos, and IheSr trust and belief In the CharSly ha8 been a great source of strength and encouragement. The Trustees and Board of Governors for the period from the 16t September 2021 to 31 August 2022 were as follows,. Mr J, Agyeman (Chalrl Pasttsr D. Meade (Mlnisler of local 8aptisl Chur¢hl Ms A. Grean IParenl Governor & Physiclsll Ms L. Bannis {Secondary teacher and head of department) M8 S. MGDonald (Parent Governor & offic& adminislralorl Mr Blankson (Teacher) Mr Robert8 (S¢hool Bu8lness Manager) Mrs Roberts {He8d Teacher) Thg Iruslee8, governors, lea¢hers and other staff remain ¢ommltted lo fulfilling the oblectlves of the ¢harity, along wlh cultlvaling an envlronmenl wherg children can thrive in thelr educational attaSnrnonl and hollsllts growth. Due to the extraordinary level of commSlmenl, devotion, hard-work and dolerminatlon of all the people passionate about Grangewood Indep?ndenl School, we have ¢onlinu8d lo make good progre$s in our recovery plan, considering the tumulluou8 and devaslallng a¢lion8 of the previous Iruslees whose report to the Charlty Commlssion slated categorically that "the charity8 poor finance8 warranted the Immediate closurè of the sohool by the 31 March 2018 Our deficll has been reduced, our pupll numbers are Increasing steadily along with our income. We signed a new lease with our landlord for a duration of 10 years from the 1st Seplomber 2021, An agreement which rea88ure$ our parents of our commllmenl lo th$ ¢harlly and Its beneficiarie8.
Grangewood Educational Association Company Llmlted by Guarantee Trustees, Annual Report (Incorporating the Dlrectors, Report) (¢ontlnuodJ Year ended 31 August 2022 Structures gov8man¢è and management {¢ontlnued) Vlslon & Mlsslon Statemont Grangewood Independent School was founded in 1979, and Ss an Independent, ¢o-educallonal s¢hool that provides a unique and mulll-faceled educational experi8n¢e for children of all fallhs, from hjo to eleven year$ old. 'The allalnmenl of pupils of 211 ages and abilities Including those with SEND or EAL, and those who are more able, Is good. In th& Earfy Years Foundation Stage IEYFSI, the Children reach the expected levels of development, and In many cases, exceed them. Nallonal and standardlsed assessment8 in Enuli6h and mathem81ics show that tha small ¢ohorts of pupils achleved above average results. The small size of the s¢hool and the family almo8phere enable staff to know puplls well and ensure that puplls, Individual needs are met. They make good progress because teachers have a good knowledge of IheSr strength8 and weaknesses., 28 a result, pupil$ are aware of their Indlvldual largels from the frequent fèedback they rec$ive. All parents who responded lo the pre- inspection quesllonnaire Said that the leachlng enables their Ghlldren lo make good progregs and develop skills for their future, and that their ohlldren's educallonal needs are mel effe¢llvely' (Quote from last ISI Integrated Inspecllon of Grangewood Independent, May 20191, The v581on OJ Grangewood IS lo establlsh a truly caring ¢ommunlly lo act 9$ an extended famlly engeftderlng mutual standards and oblectives lo foster pleasure In all achievements.. 'Unlocklng Potential with Excellence as our Hallmark, thus insplring SUCGes8, developlng excellenco, forming character and nurturing dlllgence. The School's education81 provislon contains values whlch mirror Chrlslian Irulhs and are In aG¢ordanGe with the ArtiGles of Faith. We malnlaln that the prlnciples of FAITH, GROWTH, INDUSTRY, CARE and DISCIPLINE should be promoted In every pupil. Mlsslon Statemont Grangewood Independent S¢h¢)ol was estsbll8hed lo promol8'. FAITH - A faith In the Lord J8sus Chrlsl in 8ry pupil that wlll equip them emotlonally, splrllually and socially lo f8ce all of Ilfe's challenges. GRowfH Growth Is fostered In pupils by prodIng Increaslng opportunllles for accepllng responslbllily durlng their passage through the School. PupS1s are givon the opportunity lo move Into leadershlp role8 In the academ1¢, sporting, cultural or admlnislralive 8specls of the School, INDUSTRY - Indu8try 1$ practiced through a ¢hgllenging academ1¢ programme offered to puplls through the curriculum, the development of physical agllily through sport and the promolSon of ¢reallve and art181ic abilille8. CARE - Cara is an essenllal part of Grangewood Independent, The Stshool's pastor81 programme reflects many of tha tradlllonal moral values and 8eeks to 8UPPOrt the famlly unll and to188ch Chr1811an values, DISCIPLINE - DSsclpllne is a valuecl Ingredlenl at Grangewood, The standards are ciearly defined through school Gulture and expressed in a policy that recognises the rights of every IndIdUal lo feel safe, oomfortable and free lo achSeve the hlghesl levels of suocess In each part of the m8ny faoels of school life. Th8 key to the maintenance of this &nvironm8nl al Grangewood is the developmènt of self- d18clpline and an appreclation of others.
Grangewood Educatlonal Associatlon Company Llmlted by Guarantee Trustee8' Annual Report (Incorporatlng the Dlrectors, Reportl feonrlnj Year ended 31 August 2022 Stiu¢tureJ govgrnanco and managèmont (con11n Oryanlsatlonal Structure The Assoclatlon is a regl$lgred charfly with 8 Chrlstlan ethos and Is managed by tha BoarLI of Tru8tè$s. Tha Asscclatlon wholly owns Grangewood Independent S¢hool. The school Is managed by the Board of Governors who aff appointed by the trustees of the associatlon. The Governors are responsible for the d8plo-day management of the school as prescribed in the governors, conslltullon and 8ublect to the oveNiew and approval of the Irusleos, ObJectlv9s and a¢tlvltle8 Our Alms: The school Is dedlcaled to the provlsion of qualty prSmary edu¢allon In a deprfved area of East London. Tx) promote and leach Christian value5 within the framework of a structured currSculum. To leach the value8 of soclal re$ponslblllly and respeGI for others thus Improving the quallly of good oilizenship within the communlty. To provide a slruclured educational environment that wlll ensure that puplls develop their ¢ompelence and skills (academic, artisllc, linguistic, and mu81call lo the Ilmil of their 8bility. To promote health and fitness of pupils by includlng physical exerclse and organised sport aCtIlSe$ both thIn the curriculum and In oul-of-school events. Our ObJectlves'. In Setting out oblecllves and planning a¢tlvllies, the Trustees and Governors have glven due considerailon lo the Charities Comml8sSon's guldance on publlc benefit, To reslrlct clas8 S12es lo a maximum of 20 chlldren per class thus enabling a hlgh level of indivldual pastoral care and educational lullltsn. To enhance and improve before and after school care provlsion for ¢hildren. To increase numbers of pupll8 on rall and by so dolng Increase In¢ome lo a level whlch wlll allow some financlal aid belng offered lo those famllies who cannot afford the going rale of fees charged. To increase our Involvement in community regeneration actiwtlos. To allow use of our School premises for 8ullabl8 community andlor charitable purposes. To ¢onlinue collaboration with local councillors, lo¢al authority and partnerships lo Impmv& state educatian and social mobillty.
Grangewood Educational Assoclatlon Company Llmlted by Guarantee Trustses. Annual Report (Incorporatlng the Dlrectors, Report) (contlnuodl Year ended 31 August 2022 Objectlves and actlvltles (¢onllnuèdJ Ethos, Strategy and Pollcles Grangewood Independent Is a school with a Chrlsllan ethos. 11 Is a requlremenl that dll Trustees, Governors and staff protect and enhance thls ethos. Children from other faith backgrounds are wel¢ome a8 pupils at Grangewood, provSding that their parenlslguardlans are aware of and ac¢epl our ChrislSan eth¢$. All children will be glv8n the samé level of care and allenllon regardless of their fallh, race, gender, or sexual orienlalion. The Board of Trustees have overall resptsnslbilily for ensurfng that no no school activities are In contlicl wllh our publlshed ethos. Mallers relating lo operational procedures, methods and all other operatlonal a¢livilles wlll be dealt wth by the Board of Governors. Slgnificant Items agreed by Governors may be presented to the Trustees for approval al tha disoretSon of the chaimian of the governors. Trustees and Govemors wll gUlarlY ravlew, plan and sancllon wherè appllc8ble the follng.. Currtculum ¢onlent, teachlng practlces and performance and examlnalion results Pre and post school day ¢are provi$lon Community projects In.whioh we wish to partiGip8t& Investments In the resources and Infraslruclure of the sohool staff remunerallon School fees adjustments and discounts Development of method for awarding bursari$$ when Ihls bacome$ affordable School development and Firomotion plans. Grangewood Educational Assoclatlon 1$ a charitable trust which seeks to benefit the wnmunlly through the pursull of ils staled aims. Our fees are set 81 the n)Inimum level needed to attract sufficient student numbers in an atlempl lo ensure the financial vlability of Gran9ewood School and at a level thal18 consistent with our aim lo provide a firsl-Gloss education lo both boys and girls of primary school age. To admit a prospectlve pupil, we need to be salisfled that we will ba able lo educate and develop that pupil lo the best of Ihelr potenllal and In line with the general standards achieved by Ihelr peers. To th18 end, entrance InleNiew and classroom asses8ments are undertak8n to satisfy ourselves and par8nt8 that the chlld can copa with the pa¢é of leaming and benefit from the educallon that we prov5de. Gender, elhnlclly, ra¢e, religion, dlsability, or economlc slatU8 of parenlslguardlans do not form part ol our assessment procedure8. We are an equal opportunity organlsatlon and are commilled to a working environment that is frae from any fom of discrimlnalion. Grangewood Independent S¢hool18 committed lo safeguardlng and promoting tha welfare of ils puplls. All staff and volunteers are $xpecled lo share this ¢ommilmenl and are helped through trainlng and sound gL)vernanc8 to a¢lively play their part in protecllng Ghlldren from harm and promollng thelr welfare. We ar8 commltted lo providlng 8 safe and secure envircnmenl for learnlng and have a zer1018r8nc9 policy on all forms of bullying and ant140clal behavlour. All staff and volunteers are committed to the$8 prlnciples. We are accredlled by the Independonl School Asso¢lallon {ISAI and are Inspealed by tha Indapendenl Sohools Inspeclorale (ISI).
Grangewood Educatlonal Assoclation Company Llmlted by Guarantee Trustees, Annual Report (Incorporatlng the Directors, Report) (ttontlnu8d) Year ended 31 August 2022 Objectives and actlvitles fconllnu•dJ Accoss Policy We are explorlng new and Innovative ways of offerlng access lo the school to all of tha lo¢al community reg4rdles8 of ability lo pay. We have investigated supplementlng the hours included in the Government funded Early Years Chlldcare schemo In every allempt lo InGrease acoessibillly, as well a8 plannlng to spearh&ad projects which wlll benefit the community and generate sufllcient surplus Incoma to Sn¢rea8e thè number of bursarles available at the school. In order lo make it posslblo for as many lower in¢¢me familles a8 possible to benefll from the servl¢es of the school, we have &lecled lo keep our base fee structure at a lev&1 which lust recovers our lolal operating cost. Fee Increases are measured lo minimise any adverse Impact on our current population and m8ke the schtsol less affordable lo a number of families who currently support the s¢hool. Some of our parents already make personal sacriflces in order lo meet the charye8, Rlsk Management The Trustee8 understand the duly they have lo identify and review the risks lo whlch th? Association Is exposed. and lo ensure approprlale controls are in place lo provide reasonable assurance against fraud and error. Strateg1¢ report The following section8 for achlevements and performance and financSal rewew forin the strategic report of the charity. Achlevements and pgrfomance COVID-19.' Despite the unprecedented events of the global pandemic and resulting Impact on the educallon of ¢hildren and young people across the UK, the wellbeing, mental health and academic progress of our students has been paramount. Grangewood's pedagogy of small class sizes and Individual learnlng meant that we were already in a very strong position lo help our students Ir8nsilion back to the expected (or In some cases, aGceler8led) le8rnlng Ir8leclory for their year group, followlng the initial lackdown. End of Key Stag• Outcomgs 202112022.. Durlng 2021122 our Reception data {Early Years Foundallon Stage Profile dalal wa8 moderated by the Local Authority {Newhaml. EYFS- Emerglng 150 KS1 Emerglng ODA Expected 850h (Exceeding 50%) KS2- Working towards 250 Expected 10Q% Expected 750/0 (Exceeding 66D/ol {EXedIng 0%) The educ&tlon on offer 81 Grangewoocl means that wa are able to 8lrelch the more able and gulde our students lo higher-than.expecled progress, as well as successfully lurnlng around children who transfer from other schools wllh behavloural or SEN needs, Secondary School Transltlons:
Grangewood Educationau Associatlon Company Llmlted by Guarantee Trustees. Annual Report (Incorporatlng the Dlrectors, Reportl fconWnyed) Year ended 31 August 2022 (conllnued) At tho end of the academlc year 2021122 - 100% of Year SIX students galned entry to thelr flrsl choSce, hlghly soughl-afler secondary school. PE & Sport: All students, from Nursery lo Year SIX, continued lo enloy the wsde array of In-hou$8 8PQrt$, games, dance and P.E, opportunities avallable al Grangewood. Nursery Provlslon: We contlnue to offer part-llme two-year-old provision, flexlble "30 hours of free childcare" for working parents of three. and four-year olds and Sncreased wrap around care through our Extended Hours Clubs, whiGh have increased our accessibillty for local families. School Travel Plan.. Th9 promotion of cycling, Scooting and walklng as healthy, enronments11Y frlendly, and fun ways lo gel to s¢hool rèmaln a central part of our School Travel Plan, PSHE & Cltlzenshlp: Our Year Flve and Year Six students conllnue to participate Sn Newham's Faith In SGhool8 project and support loG?I prlmary school puplls in developlng a better understanding of events such as Christmas and Easter. In the year 2021122, a video presentation was prepafftd by our students and presented in several local primary schools lo support thelr Chrislrnas programme. SEN Resourcg Provl810n'. Slncg November 2020, we have introduced a speclallst resourc$ provision for children with autlsm, with qualified and hlghly Iralned staff. Our provision provides 8 1":1 indivdUaI1Sed education for up to 16 puplls, using pr&cise leaching methodology, which documents the number of skills learned each week, and regularly analyses the data to facllllate conllnual pupll progress. Llnks.. ABA SEN Resource Unil for under 5,8 on 8110. Students spent another year raislng funds for local charltle8 through Book Character Fund raislng and non-unlform day6, We have well 88labli$hed links wSlh local unlversilios. Flnanclal revlew The attached financial 8taternenls. together th notes, show the Incomlng and oulgolng sources for the year and $late of affalrs al the Balance Sheet dale, Nel deficit for the year was £130,493 {2021 nel defidl for the year was £182,757). The princlpal source of income was school fees whlch ffjpr888nled around 91% of total Incomlng resources. Included In tho rernalning incoma was..
Grangewood Educational Associatlon Company Llmlted by Guarantee Trustees, Annual Report (Incorporatlng tha Dlrectors, Report) (contlnuedj Year ended 31 August 2022 (COlJllnuodJ £ 31,729 Rental Income £ 7,788 School Meals Income £ 1,450 Music Incomè £ 35,192 SEN Income £ 21,944 Furlough PayThents £ 5,000 London 8orough of Newham Grant (Cavld-19 relatedl Appllcation of Funds.. As an educational charfly, the Asso¢ialion enloys lax exemption on aclivltles, provlded that these benefits are applied towards charitable alms. The Associallon alsts recelves a reducllon in buslnes8 r2te8. The financial benefits of these exempllons are applied for aducalional purposes, ReseNes Pollcy The charity aim8 to malnlaln res8tve8 of £370,000 lo en8ure sufficlenl funds lo cover the rent and op$ralional costs for th school terms. However, given the financlal pressure8 that the school has recently experienced due lo thg Covld-19 Pandemic, we have reduced the reserves down to £200,000 in order lo allow us some flexibility to manage cashflow challenges. This target is currently not being met bul plans are In pla¢e lo turn Ihls around and improve the poslllon going fomard. Trustees, responslbllltles statement The Iruslees, who are al80 directors for the purposes of ctsmpany law, are responsible for preparlng the Iruslees, report and the financlal $latemenls in accordance with applicable law and United Klngdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law rqulre8 the Gharity Iruslees lo prepare finsnoial statements for each year whlch glve a true and fair viow of the Stale of affairs ot the charitable company and the incoming resource6 and applicallon of resources, includlng the Income and expenditure, for that perfod. In preparing these financlal statements, the Iruslees are requSred to.. select sultable aGcountlng policles and then apply them eonsistenlly., obseNe th8 methods and prln¢lples in the appllcable Charill&s SORP., make ludgmenls and accounllng eslimales that are reasonab18 and prudent., prepare th8 financlal slalem8nls on the going con¢ern ba818 unlos8 11 5$ inapproprlate lo pre8ume that Ihg charlly wll conllnue In buslnes8. The trusl8es are responslble for keeping adequate accounllng records that are sufficient to show and 8xplaln the charity'8 Iransacllons and dlselose with reasonable acouracy al any Ilme the financial posllion of the charlly and en8blo them to ensure that the financial slal&ments ¢omply with th8 Companles Act 2006, They are also responsible for safeguarding the assets of the charity and hen¢e for taking reasonable slep8 for the prevention and detection of fraud and trlhor irregularities.
Grangewood Educational Assoclatlon Company Llmlted by Guarantee Trustees, Annual Report {Incorporatlng the Dlrectors, Report) {¢ontlnued) Year ended 31 August 2022 The trustees, &nnual report Ilncorporaling the direclor8' report) and the strategio report were approved on .Lq./.In.l.IS... and signed On behalf of the board of trustees by.. MrJ Agyernan Dlrector MsJEEJaNIs Dlreclor
Grangewood Educational Assoclatlon Company Llmlted by Guarantee Independent Examlner's Report to the Dlr8Ctors of Grangewood Educatlonal Assoclatlon Year ended 31 August 2022 I report lo th& director8 on my èxamination of the financlal statements of Grangewood Educatlonal Association Ilhe charllll for the year ended 31 August 2022. Responslbllltles and basls ol report As the charity's Iruslees of the company land also Ils direGlors for the purpoÉes of ¢ampany lawl you are responslble for the preparallon of the accounts in accordance with the requiremen18 cf the Companles Act 20061'lhe 2006 Act'l. Having satisfiad myself that tho account8 of the company are not required lo be audlled under Part 16 of the 2016 Act and are eligible for independent examination, I report In respe¢t of my &xaMinalion of your charity's aocounts a8 C8rrled out under seGlion 145 of the Charllles Act 2011 I'lhe 2011 Acl'l. In carrying out my examln8llon I have followgd the Dlrecllons glven by the Charity CommS8slon under sgclion 145151 Ibl of the 2071 Act. Independent examiner's quallfled Statement Slnee the charity's gro88 Income oxceeded £250,000 your examiner musl be a member of a body listed in secllori 145 of the 2011 Act. I conflrm that l am qualif18d lo undertake the examination because l am a member of the Institute of Chartered Accountants In England and Wales IICAEW), whlch Is one of tho Ilsted bodie8, 10
Grangewood Educational Assoclation Company Llmlted by Guarantee Independent Examlner's Report to the Dlrectors of Grangewood Educatlonal Assoctatlon (¢onllmu8d) Year ended 31 August 2022 The accounts have been prepared on a going ¢oncern basls, h¢)wever, as noted on page 18 there is material uncertalnty regarding going ¢oncem. I note that the trustees are laklng mltigaling 8cllon810 improve performance, bul am unable lo confirm whether this will be 8ufficionl lo recover the negatlve funds posillon and ensure liabilities are mel as they fall dua. l also note that rf a basls olh8r than golng concern were to be used, this would not materially affect the value of the assets and liabilities In the flnancial slalemenls. As such my oplnlon for the independent exarniner's report remain$ unmodified. I h8ve completed my examlnatlon. I conflmi that no other mallers have come lo my attenllon In conne¢tlon with the examination glvlng ma cause lo believe.. 111 accounting records were not kept In rospect of the company as requlred by 8ection 386 of the 2006 Aol., or 12) the accounts do not accord wf(h those accounting re¢ords', or 131 the accounts do not comply wrf(h the accounting qUIrementS of secllon 396 of the 2006 A¢1 other Ih8n any requirement that the accounts give a 'lrue and falr, view whi¢h Is not a maller consldered as part of an independent examinatlon., or {41 the ztteounts have not been prepared in accordance with the methods and prlnclples of the Slalemenl of Recommended praclSce for accounting and reportlng by charille8. I have no cop)cerns and hav6 come across no mallers, other than the m8lerial un¢ertainly in respect of going concern. in connectlon with the examlnalion lo which allenlion should be drawn in this report In order lo enable a proper understsndlng of th$ accounts lo be reached. Andrgw Collyer Independent Examlner Camburgh Hou88 27 New Dover Road Canterbury Kent CT13DN Ii/,,liJ
Grangewood Educational Assoclation Company Llmlted by Guarantee Statement of Financlal Activltles {In¢ludlng income and axpendlture accountl Year ended 31 August 2022 2022 Unreslrlcled funds Total funds Total funds 2021 Notè Income and endowments Donations and legacies Total Income 612,042 612,042 612,042 612,042 326,427 326,427 Expondltur8 Expenditure on ralslng funds., Costs of raising donations and leg8cles Expendllure on charitable aGlivilie8 Other expenditure Total oxpendltur• 206,182 535,222 1,131 742,535 2Ce,182 535,222 1,131 742,535 200,110 307.800 1,274 509,184 10 Not expendlture and net movement In funds {120.4931 (130.4931 (182,7571 ReGonclllatlon of funds Tol81 funds brought forward Total funds carried foMard 27,984 27,984 (102,5091 1102,5091 210,741 27,984 The statement of financlal activities Includes all gains and losses recognised In the year, All Income and expendÈture derlve frorn conlinulng activities. Tho nots8 on paoes 16 to 23 form part of these financlal stalemenl8,
Grangewood Educational Assoclation Company Llmlted by Guarantee Statement of Flnanclal Posltion 31 August 2022 2022 2021 Noto Cuir¢nt assets D8btors Cash at bank and in hand 15 22,391 2,518 25,909 31,329 126,689 158,018 Crgdltors: amounts falllng due wlthln one year Nat cuent Ilabllltle$ Total assets less current Ilabllitle$ Nat Ilabllltles 16 128,418 1102,5091 {102,509} (102,5091 130,034 27,984 27,984 27,984 Funds of the charity UnreslrScled funds 1102,5091 (102,5091 27,984 27,984 Total charlty funds 19 For the year ending 31 August 2022 the charity was enlilled lo exempllon frcm audlt under sectlon 477 of the Companies Aol 2008 relating lo small companies. Dirlor8, responsibllllies.. The Mamr$ have not requlred the company to obtain an audFt of ils financial $lalemenls for the year In quesllon in aG¢ordance wlh section 476., The dire¢lors acknowledge their raspon$ibSlllles for complylng with the requlremenls of the Act wlth resp8Ct lo a¢counling re¢ords and the preparation of financial stalamenls. These financial statements ha been prepgred In aocordance with the provl8ions applicable lo companSes subjeGI to the small Gompanies, regime. These financial 81alements were approved by the board of Iru8tee8 and aulhorSsed for 188ue on X9.1.io.l.X3and are signed on behalf cf the board by.. Mr J Agyeman Dire¢lor M8JEEJaNIs Dlreclor Th• notes on Pa0 16 to 23 form part of the8e flnanclal statements.
Grangewood Educational Associatlon Company Limlted by Guarantee Statament of Cash Flows Year ended 31 August 2022 2022 2021 Cash floMB from operatlng activltlo$ Nel expenditure 1130,4931 (182,7571 Adjuslm8nts for. Changes In.. Trade and other debtor8 Trade and oth$r creditors Cash generated from operallons Nét oash used In operating acllvilles 7,938 12,6191 11.6181 75,691 {124,171) 1109,6851 1124,1711 {109,6851 Cash flows from flnanclng actlvltle$ Net docrea88 In Gash and cash èqulvalents Cash and cash gqulvalents at beglnnlng of y¢ar Cash and cash oqulvalents at end of year 1124,1711 1109.6851 126,689 236,374 2,518 126,689 Th• not•s on pages 15 10 23 fgrrn part of theA¢ flnanclal 8tstsments. 14
Grangewood Educationall Associatlon Company Llmltad by Guarant8e Notes to the Flnanclal Statsments Year endad 31 August 2022 General Infomiatlon The charity Is a public benefll enllty and a private company Ilmlled by gu8ranlee, reglslered In England and Wales and a registered charity In England and Wales. The address Df the registered offl¢e18 Grangewood Independent Sohool, Chester Road, Forest Gate, London, E7 8QT, Statomènt of compllan¢è These flnanclal slal8menls have bean prepared In compliance with FRS 102, 'The Flnancial Reporting Standard applicable in the UK and the RepublSc of Ireland,, the Slalemenl of ReGommended Pracllc8 applicable lo ChalIeS preparing thelr accounts In 8ccordance wllh the Financlal Reporting Standard applScabl& In the UK and Republlc of Ireland (FRS 1021 {Charllle8 SORP {FRS 10211 and the Companies Act 2008. Arcountlng pollGles Basls of preparatlon The financial $tatemenls have been prepared on the historical ¢081 basis, as modlfied by the revaluation of certaln financial assets and Slabililies and Investment properties measured at fair value through Income or expenditure. The financial statemen18 are prepad In sterling, whl¢h Is the funGlional currency of the enllly. 15
Grangewood Educational Assoclatlon Company Llmlted by Guarantee Notes to the Flnancial Statements f¢¢niinued) Year ended 31 August 2022 Accountlng pollcigs (conllnu¢d) Going con¢ern The dirgclor8 have ¢onsldered golng concern and a88e8sed the p0881blllly of cash runnlng out 88 the historic data has shown the funds reduelng year on ye8r, Based on their review they accept there is a malerlal uncertalnly on the CharY'S abllily to oonlinue however they are taking positive millgallng actions to generate the necessary rasetves to prevgnl this from being the case. These actions In¢lude'. Action 1.. The School h88 openod a SEND unil wl(h capacity lo accommodate up lo 16 pupi18 wllh acute aullstic needs requiring speclalist 1-10-1 supetvision and bespoke learning plans and sly125. Should full capacity b& aGhioved withln the next 18 months, this wlll generate 8ignlfl¢anl revenues. We currently have 11 pupils, with 2 more expected lo start In the coming months. Acllon 2., The school has reduced the ov8rtieads of runnlng the s¢hool lo offset the increase In energy prl¢es. Action 3.. Supplementing and leveraglng the school's Staffing capabllilies by using volunteers lo cover non- cora aclivilles has saved approximately £18k per year. Action 4.. The School ha$ secured a 10 year lease so that the the school can be heavily marketed lo prospecllve parents who may be concerned by the ongoing lenantty discusslons with the landlord. The director8 and staff contlnuo lo look at where Income can be generated and costs Gan be reduced lo ensure that the School 58 a golng concern. The accounts have been prepared on a going concern basss as tha dlreclors belleve the charSty w511 be abl& lo generate the funds necessary to continue lo meet liabilities as they fall due, Judgements and key sour¢e5 of estlmatlon uncertalnty The preparatlon of the flnancial 8lalemonls requi*s man8gemenl to make judgements, eslimales and assumpllons that affect the amounts r&ported. These estimates and judgements are contlnually reviewed and are based on experience and other factors, Sncludlng exp6cl8llons ol future events th81 are beli&ved lo be rea80nable under the ciroumstances. 46
Grangewood Educational Company Llmlted by Guarantee Notes to the Flnanclal Statements (contlnu•dJ ssociatlon Year ended 31 August 2022 Accountlng pollcle8 (conllnued) Fund accountlng UnreslrScled funds are avallable for use al the discretion of the trustets$ to frjrther any of the charitls purposes. De8lgnaled funds are unreslrlcled fund$ eamiarked by the dlrectors for partlcular future project or commitment. Reslrlcled funds are 8ublected lo reslrlcllons on Ihelr expandlture declared by the donor or through the terms of an appeal, and fall Into one of sub.¢la88e8'. restrl¢ted Income funds or endowment fund8. In¢omlng re$our¢es All Incoming resources are included in the 8tslemenl of financlal activities when enlillemenl has pas$ed lo the charity., il is probable that the economlc benefits assoclaled with the transaction 11 flow to the charity and the amount can be rellably measured. The following specif[¢ pollci8s are applled lo parti¢ular categories of in¢ome'. Income from donallons or grants 15 recognised when there Is evidence of enlltlament 1¢ the gift, recelpl is probable and ils amount Gan be measured reliably. legacy income Is recognised when recelpl is probable and enlillement 1$ establlshed. in¢om& from donated good8 is measured at the falr value of the goods unless this is improdlcal to measure rellably, In whiGh Gase the value Is derived from the cost to the donor or the tsslimaled resal& value. Donated facilities and servlces are re¢ognlsed In tho aGcounts when reGelved 11 the value ¢an be reliably measured. No amounts are Includad for the ¢onlribulion of general volunteers. Income from contracts for the 8upply of serv1¢8$ Is recognlsed th the dellvery of the ¢onlracled seNice, Th58 is classified 88 unreslricled funds unless there 18 a contractual requlremenl for il to b& spent on a particular purpose and returned if unspent, in whlch case il may bè regarded as re$trl¢led. 17
Grangewood Educational Associatlon Company Llmlted by Guarantee Notes to the Flnancial Statements (COnllnu•d) Year ended 31 August 2022 Accountlng pollcles (conllnuedj Resources expendod Expendllure Is recognised on an accruals basls as a liabllily is incurred. Expandilure includes any VAT whlch ¢annol be fully récovered, and Is classified under heading8 of tho slalement of financlal aclivllies to whSch 51 relates.. expenditure on ralslng funds Includes the costs of all fundralslng activitie8, events, non- charitab16 Iradlng activities, 8nd the sale of donated good8. expendlture on charitable aGlivitles includes all costs In¢urred by a charity In undertaking acllvllies that further Ils charitable aims for the benefit of ils beneflclaries, includlng those 8UPPOrt costs and costs relating lo the governance of the charlly apportioned lo charitable a¢tivitios. other expendiluro includes all expenditure that is neither related lo ralslng funds for the charity nor part of ils expenditure on charllable acllvilleg, AII co815 are allocated lo expenditure categories reflecting th8 use of the resource. Dlrecl costs atlribulable lo a single activity are allocated directly to that aclivily. Shared costs are apportioned between the actlvllle$ they contribute lo on a reasonable, Iu8llflabl8 and con8lstent basls. Tanglble assets Tanglble assets are Initially recorded al cost, and subsequently stsled at ¢osl less any accumulated depr$cialion and irnpairmenl losses. Any tangible assets carried al revalued amounts arg recorded al the falr value al the dale of revaluation less any subsequent accumulated depreclallon and subsequent accumulated impairment losses. Depre¢latlon Depreelalion is calculated so a8 to write off the Gosl or valu811on of an asset, le$s Ils resldual value, over the useful economlc life of that a$sel as follows.. Flxture8 and filling8 Impalmient of fIX assots 200A stralght Ilne A revlew for indlcaltsrs of impalrmenl is carrled out at each reptsrtlng dale, with the recoverable amount being esllmaled where such indlcalors exist, Whère the carrying value exceeds the recoverable amount, the asset is impalred a¢cordingly. Prior impairments arts also revlewed for possible reversal al each reporting dale, Government grants Govemment grants are recognlsed al the falr value of the a88et recelvad or r¢¢eivable. Grants are not recognlsed until there 1$ reasonable assurance that the charlly wlll cornply wllh the conditions 8tlaohing lo Ih8m and the grants will be recelved, 18
Grangewood Educational Assoclation Company Llmlted by Guarantee Notes to the Flnanclal Statements l¢anllnyedJ Year ended 31 August 2022 AGcountlng pollclos {¢antlnuad) Govemment grants {contlnuadJ Where the gRnl d088 not impose speclfied future performan¢e-relaled condllions on the reciplenl, il Is recognlsed In Sncome when the grant proceeds are rec8ived or rècelvable. Where the grant does impose specified future performanoe.related condillon8 on the re¢lplenl, 51 18 recognlsed In Sncome only when the perform8nce-relaled condilltsns have been mel. Whe grants rgGeived are prlor to Satisfying the tsvenue recognlllon criteria, they are racognis8d as a Flnanclal Instrument8 Financial Instruments are classified and accounted for, according t¢ the 8ub8lance of the conlraclual arranggmenl, as ellher financial assets, flnancial Ilabililies or equity instruments. An eqully Instrument is any conlra¢l that evidences a residual interest In the as8els of the rnpanY afler dedu¢lSng all of118 Ilabilllles. Short term debtors and credllors are recorded at Iransactlon prl¢e, Any losses arfslng from Impairment are recognisgd in the profit and Ioss account. Llmlted by guarantee The company is a private company limited by guar8nlee and has no share capital. Each member will undertake to contribute such 8mounl as may be required (not exceeding £11 lo the ¢ompany's assets If il should be wound up, either whilst a member or wlhin one year of ceasing lo be member. Donatlons and l¢gacleg Unre$lrlcled Total Funds Unreslricled Total Funds Funds 2022 Funds 2021 Donatlon8 Fees receivable Donallons School meals 556,858 641 7,788 556,858 641 7,788 285,449 1,122 1,819 285,449 1,122 1,619 Grants Government gr8nl Income 5,000 5,000 11,808 11,806 other donatlons and legacles Other income 41,755 612,042 41,755 612,042 26,431 326,427 26,431 326,427 Costs of ralslng donatlons and1ggaGles Unre81rlclad Total Funds Unre$lricted Total Funds Funds 2022 Funds 2021 Costs of ra181ng donations and legaclès Donallon8 208,182 206,182 200,110 200,110 19
Grangewood Educational Assoclatlon Company Llmited by Guarantee Notes to the Flnanclal Ststements (cofitlnu8dJ Year ended 31 August 2022 Expendlture on charltsble actlvltlas by fund type UnreslrlGled Total Fund5 Unre8lrlcled Total Funds Funds 2022 Funds 2021 Support C0816 535,222 535,222 307,800 307,800 Expendlture on charitabl¢ a¢tlvltlg5 by actlvlty type Total funds 2022 Total fund 2021 Support costs A¢llvlly type a Governance cos18 427,669 107,553 535,222 427,669 107,553 535,222 247.048 80,752 307,800 Analys18 of support costs Analys18 of 8UPPOrt cost$ aGlivily 1 Tot812022 Total 2021 Slafl oosls Premises Communlcatlons and IT Ganeral DffiGe Govèrnan¢e cos18 Other cost8 174,3S6 174,478 16,566 17,809 107,553 44,650 535,222 174,366 174,478 16,566 17,609 107,5S3 44,650 535,222 84,835 127,940 16,236 7,328 60,752 10,709 307,800 10, Other expondlture Unroslricled Total Funds Unrestrlcted Total Funds Fund8 2022 Funds 2021 Bank fees 1,131 1,131 1,274 1,274 11. Independent examlnatlon fe8s 2022 2021 Feos payable to the Independent examlner for.. Independent examination of the financial 8lalemenl$ 1,475 1,475 2n
Grangewood Educational Associatlon Company Limited by Guarantee Not88 to the Flnanclal Stataments (contlnu Year ended 31 August 2022 12. Staff costs The total stsff costs and employee benefits for the roporting perlod are analysed as follows.. 2022 2021 Wages and $alarles 370,314 278,757 The average head count of employees during the year was 1612021.. 181. The average number of full-tlrne equivalent employees during the year is analysed as follows.. 2022 No. 2021 No. Number of full Ilme 818ff 16 No employee recelved employee benefits of more than £60,000 durlng the y&ar (2021.. NII), 13. Trustée rtsmuneratlon and expenses No rernuneratlon was received by the trustee8 during the year12021.' nir). 14. Tanglblo flxed assets Flxturgs and flttlngs Cost At 1 September 2021 and 31 August 2022 Depreclatlon At 1 September 2021 and 31 August 2022 Carrylng amount At 31 August 2022 Al 31 August 2021 60,618 60,618 16. Dtrbtors 2022 2021 Trade debtors Prepayments and accrued income 16,502 8,889 23,391 24.440 6,889 31,329 21
Grangewood Educational Association Company Llmlted by Guarantee Notes to the Flnanclal Statements l¢oniinuédJ Year ended 31 August 2022 q6. Credltors: amounts falllng due wlthln one year 2022 2021 Trade creditors Accruals and defetted Income SoGlal security and olhor taxes Other creditors 61,827 12,827 1,821 51,943 128,418 69,260 48,809 4,698 7,267 130,034 17. Deferred Income 2022 2Q21 At 1 September 2021 Amount released lo In¢ome Amount deferred in year At 31 August 2022 44,609 144,609) 8,627 8,627 21,113 121,1131 44,809 44,809 18. Govornment grants The amounts recognlsed In the financlal slalemenls for government grants are as folk)ws,' 2022 2021 Recognisgd in income from donations and18gaoias', Government grants income 5,000 11,806 19. Analysls of charltablg fund$ Unrostrlcted funds At 1 September 2021 At 31 August 20 22 Income Expenditure General fund8 27,984 612,042 (742,5351 {102,509) Al 1 September 2020 Al 31 August 20 21 Incomo Expendllure General funds 210,741 326,427 {509,1841 27,984 22
Grangewood EducatlonaD Assoclation Company Llmlted by Guarantee Notes to the Flnanclal Statements (conllnued) Year ended 31 August 2022 20. Analysls of not 888ets bètween funds Unrestrlcled Total Funds Funds 2022 Current assets Creditors le88 than 1 year Net Ilabllltlos 25,909 25,909 {128,4181 (128,4181 1102,5091 1102,5091 Unreslrlcted Total Funds Funds 2021 Current a88el$ Credllor$ less than 1 year Net1Sabllltles 158,018 158,018 1130,0341 1130,0341 27,984 27,984 21. Analysls of changes In not debt At Al 1 Sep 2021 Cash flows 31 Aug 2022 Cash al bank and in hand 126,689 1124,1711 2,518 23
Grangewood Educational Association Company Llmlted by Guarantee Management Informatlon Year ended 31 August 2022 The followlng pages do not form part of the flnanclal 9tatements. 24
Grangewood Educatlonal Association Company Llmlted by Guarantee Detalled Statement of Flnanclal Activlties Year ended 31 August 2022 2022 2021 Income and endowments Donatlons and legaclg$ Fees receivable Donations School meals Government grant Incoma Other income 556,858 641 7,788 5,000 41,755 612,042 285,449 1,122 1,619 11,806 26,431 326,427 Total Income 612,042 326,427 Expèndlture Costs of ralslng donatlons and legacle8 Wages and salari88 Education resources Exlra currlcular a¢tMlles Staff Iralning 195,948 1,662 7,S36 938 193,922 1,902 4,286 206,182 200,110 Expendlture on Gharltable actlvltle8 Wages and salarles Rent . Rates and water Light and heal Repalrs and malnlenance Insurance Other e$lablishm8nl Other molorltravel cost$ Logal and prole$slonal fees Telephone Other office cost8 Catering Webslle maintenance SchoDI events Sundry 174,366 130,366 13,869 24,594 177 5,472 2,106 2,559 107,553 3,869 17,609 5,905 12,697 698 33,382 535,222 84,835 62,917 13,891 15,735 394 35,003 1,273 1,152 80,752 3,885 7,328 1,291 12,351 12 6,981 307,800 Other expendlture Bank fees 1,131 1,274 Total expendlture 742,535 509,184 25
Grangewood Educational Association Company Llmlted by Guarantee Detalled Statement of Flnanclal Actlvltlas (eantlnued) Year ended 31 August 2022 2022 2021 Net eJ(penditure {130,4931 1182,7571 26
Grangewood Educatlona Company Llmlted by Guarantee Notes to the Detalled Statement of FSnanclal Actlvltles Year ended 31 August 2022 ssociation 2022 2021 Costs of ral$lng donatlons and legacles Costs of ralslng donatlons and lègacles . Donatlons Teaching expenses - w8ge$ and salarles Teachlng expense8- education resources Teachlng expenses- extra currlcular acllville8 Teaching expenses staff Iralning 195,948 1,662 7,638 936 193,922 1,902 4,286 206,182 200,110 Costs of ralslng donatlons and lega¢les 206,182 200,110 Expgndlture on chailtablo actSvltle$ Actlvlty type I Support costs Support costs - wages and $2larles Support costs - rent Support costs- ral88 & w&ter Support ¢osls - light & heal Support Costs- repairs & m8lnlenance Support cosl8- insurance Support costs - other eslabllshmenl Support ¢osts- molorltravel eosl$ Support C081s- telephone Support costs - other office costs Support Costs- catering Support oosls- websila malnlenanoe Support costs- school events Support costs- bad debt5 174,366 130,366 13,869 24,594 177 5,472 2,106 2,559 3,869 17,609 5,905 12,697 698 33,382 427,669 84,835 62,917 13,891 15,735 35,003 1,273 1,152 3,885 7,328 1,291 12,351 12 6,981 247,048 Governance costs Governanoe costs - aGGounlancy fees Gov8man¢e costs - legal and alher professlonal f8es Governance costs- Independgnl ex8mlnation fees 2,217 103,881 1,475 107,553 2,217 57,060 1,475 60,752 Exp&ndltura on charltable actlvltleg 535,222 307,800 27