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2021-08-31-accounts

Charity Registration No. 803766

Company Registration No. 2516633 (England and Wales)

CANBURY SCHOOL LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

CANBURY SCHOOL LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Governors
Governors Rev. A Beck
Mr M Cook (Member of the Property
Committee)
Ms M Harknett (Chair of Governors,
member of F & GP and Public Benefit
Committees)
Mr C Soden-Bird
Head Ms C Yates
Bursar and Clerk to the Governors Mrs L Anindita-Beckman
Charity number 803766
Company number 2516633
Registered office Canbury School
Kingston Hill
Kingston Upon Thames
Surrey
KT2 7LN
Auditor Warner Wilde Limited
4 Marigold Drive
Bisley
Woking
Surrey
GU24 9SF
Bankers Barclays Bank PLC Kingston
6 Clarence Street
Kingston-upon-Thames
Surrey
KT1 1NY

CANBURY SCHOOL LIMITED

CONTENTS

Page
Governors' report 1 - 5
Statement of governors' responsibilities 6
Independent auditor's report 7 - 10
Statement of financial activities 11 - 12
Summary income and expenditure account 13
Balance sheet 14 - 15
Statement of cash flows 16
Notes to the financial statements 17 - 32

CANBURY SCHOOL LIMITED

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2021

The governors present their annual report and financial statements for the year ended 31 August 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Charitable Object

The principal object of the company as set out in the Memorandum and Articles of Association dated 1990 and revised in 2008 is as follows:

"To promote and provide for the advancement of education and in connection therewith to conduct, carry on, acquire and develop in the UK any boarding or day school or schools for the education of children of either or both sexes."

Public Benefit

In furtherance of these aims Canbury School's Governors, as the charity trustees, have complied with the duty in the Charities Act 2011 to have due regard to the Charity Commission's published general and relevant subsector guidance concerning the operation of the Public Benefit requirement under the Act.

For the year ended 31 August 2021, Canbury School's principal activity continues to be the provision of a Day School for 11 - 18 year old boys and girls. The total number of pupils in the school in September 20 20 was 6 5 .

Achievements and Performance

This year, the value of bursaries awarded to Canbury pupils was £8,564. These awards were made from the designated fund. In assessing financial eligibility for bursaries the School employs a number of criteria that take account of the income and capital resources of the applicant. The Head, in consultation with the Bursar, and with advice from a specialist bursary assessment company where required, determines the level of support awarded. Individual eligibility is reassessed annually. The availability of bursaries is advertised on the School's website and in pupil recruitment advertisements.

Despite its readiness to make its premises available for the use of other schools and the local community, Canbury School is not able to do so due to the stringent planning restrictions applying to the site.

The School keeps staff up to date with the General Data Protection Regulation (GDPR) in line with its statutory obligations.

The educational performance of the school was demonstrated by the public examination results. In the summer of 2021, 78 % of students achieved 5 or more GCSEs including maths and English. Due to the COVID19 pandemic, all public examinations were cancelled again and schools entered Centred Assessed Grades. However, the results were on target for this year's year group and deservedly awarded. This represented a significant increase in the overall academic results from the previous year, With the appropriate intervention and support from the School, all students obtained a place at their first choice of Sixth Form/ College.

In-house and remote external training for staff continued throughout the year with courses including those to comply with regulatory requirements, such as safeguarding refresher, Epipen and Asthma training, Fire marshalling, Diversity and equalities training, Literacy and marking, Examination invigilation, Covid testing training for staff involved in LF testing in school, Teachers Pension update - Individual meetings, Exams update, Educational Visits and Risk Assessments, Differentiated Questioning, and Behaviour training.

CANBURY SCHOOL LIMITED

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

COVID19 Pandemic 2020/21

Canbury School reopened to all its students and staff in September with stringent COVID19 protocols in place to protect everyone and minimise risk of infection. Although Canbury was classed as one bubble (under 100 people on site), the students were further divided into KS3 and KS4/5 bubbles to minimize spreading the virus. The students found this to be the most difficult measure to cope with but did it admirably. After the October half term, everyone had to wear masks in classrooms as well as in corridors. By the end of the Autumn, it was clear that we were heading for a second lockdown in the new year. We returned to remote learning in January 2021 and Lateral flow testing in schools began. Canbury once again remained open to the most vulnerable students with staff in school on a voluntary basis. Students and staff found this second lockdown much harder than first and were relieved when school reopened on the 8th march following three LFT tests for everyone; two in school and one at home. Thankfully we came to the end of the summer term without having to isolate any year group and we remained virus free. During these periods of lockdown, we did not have to furlough any staff. Risk assessments were completed on all students every three weeks with additional wellbeing surveys of students, parents and staff conducted.

The students, many of whom find change difficult, were utterly marvellous and showed great resilience in ‘getting on with it’ with a minimum of fuss and drama. Some of them, who have acute social anxiety or OCD, actually flourished with the remote system.

Other achievements

Canbury School continues to provide places for pupils with an Education Healthcare Plan (EHCP). The School provides specialist assistance to those pupils with special educational needs and to those who join our English for Speakers of Other Languages course.

Canbury School continues to develop wider community links. In addition to funds raised for a local charity each year, the Sports Department at the school is very active in and organises competitions with other local schools. Due to stringent planning restrictions, the school facilities cannot be offered to other organisations for their use when the school is not using them.

The staff, pupils and parents worked hard this year to raise a total in excess of £502.05 the annual local charity, which this year was Jeans for Genes, Children in need and save the children. This money was raised through online quizzes and mufti days.

Investment Performance

Investment performance this year yielded a capital return of 22% (2020: -4.0%) and an income return of 4.7% (2020: 4.0%). The calculations were performed as follows:

Capital return = ( profit on investments sold + change in market value of investments)/cost of investments brought forward %

Income return= (dividends & interest received)/market value of investments brought forward %

Financial Review

The Statement of Financial Activities shows net incoming resources of £181,994 (2020: £499,966). Having taken account of net gains/(losses) on investments of £71,326 (2020: (£14,455)), the net movement in funds amounts to a surplus of £ 240,844 (2020: £303,517 ) .

Income generated annually can be expended as required.

CANBURY SCHOOL LIMITED

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

A Designated Fund is available to meet the cost of bursaries that are awarded at the discretion of the Head.

Reserves Policy

It is the policy of the charity that Unrestricted Funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months’ expenditure.

Investment Policy

The Governors are empowered to invest monies on behalf of the company from the Endowment Fund in such securities or property etc. as may be thought fit. In so doing the Governors may delegate to any company or firm of repute which is an authorised person for the purposes of the Financial Services Act, the power to buy and sell investments on behalf of the company in accordance with the agreed investment policy.

The investment objective of the Governors is to continue to maximise total return through diversified investment both within the UK and overseas in equities, fixed income securities and/or cash. The performance of the company's investment managers is monitored on a regular basis.

Risk Management

Canbury School's Board of Governors is responsible for the management of the risks faced by the School. Risks are identified, assessed and controls established throughout the year. A formal review of the charity's risk management processes is undertaken on an annual basis.

T he Board, with assistance from the Senior Leadership Team and the sub-committees, continues to keep the School's activities under review, particularly with regard to any major risks that may arise from time to time as well as the systems and procedures established to manage them. They monitor the effectiveness of the system of internal controls and other viable means, including insurance cover where appropriate, by which those risks already identified can best be mitigated.

The key controls used by the charity include: - Formal agendas for all Committee and Board activity; - Detailed terms of reference for all Committees; - Comprehensive strategic planning, budgeting and management accounting; - Established organisational structure and lines of reporting; - Formal written policies; - Clear authorisation and approval levels, and Vetting procedures as required by law for the protection of the vulnerable.

Through the risk management processes established for the School, the Governors are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

Working with other charities

Canbury School co-operates with many local charities in an ongoing endeavour to widen public access to the education Canbury can provide and to awaken in the pupils, in the public interest, an awareness of the social context of the all-round education they receive.

Future plans

Our key objective for the future remains the same as reported above for this year.

Future plans under consideration include the evaluation of the effectiveness of, and extension of, the post-16 curriculum; and the absorption of IT across the curriculum, which will include significant expenditure on the upgrade of IT and IT training. It must be noted that all plans for 2019-20 and 2020-21 have been seriously disrupted by Covid-19.

CANBURY SCHOOL LIMITED

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Structure and governance

Canbury School Limited is a charitable company founded in 1982, charity registration number 803766, company registration number 2516633, with the liability of its members limited to £1 each by guarantee. The Registered Office and principal address of the Company is at Kingston Hill, Kingston-Upon-Thames, Surrey, KT2 7LN.

The company is governed by its Memorandum and Articles of Association dated 1990 and revised in 2008. The Articles deal with such issues as the general powers and duties of the Governors as well as the detailed aspects of the day to day running of the school.

Rev. A Beck

Mr M Cook (Member of the Property Committee) Ms M Harknett (Chair of Governors, member of F & GP and Public Benefit Committees) Mr C Soden-Bird

Rev. A Beck Mr M Cook (Member of the Property Committee) Ms M Harknett (Chair of Governors, member of F & GP and Public Benefit Committees) Mr C Soden-Bird

None of the governors has any beneficial interest in the company.

The Governors meet as a Board at least three times a year to determine the general policy of the Company and to review its overall management and control, for which they are legally responsible. The work of implementing the Board's policies and the day-to-day running of the School is delegated to the Head and the Bursar.

A resolution proposing that Warner Wilde Limited be reappointed as auditors of the company will be put to the members.

CANBURY SCHOOL LIMITED GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Dlsclosurg of Inf￿atIon to audltor Each of the Govemors has confirmed that ther8 is no information of which they aro aware which 1$ relevant to the audlt. but of which th& auilor is unaware. They have fvrther ojnfirmed that they have taken appropriat8 Steps to id8nllfy such relevant information and io establish that the auditor are aware of such infofmation. Approvad by th& Board of Direth aThJ sigd on its behaw by.. MsMHa GovèrTr)r nettlBba ol Govwnor8, mombor ol F & GP and Publk B•n•fft Commltto0•

CANBURY SCHOOL LIMITED

STATEMENT OF GOVERNORS' RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2021

The directors are responsible for preparing the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period.

In preparing those financial statements, the directors are required to:

The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the company's corporate assets and ensure their proper application in accordance with charity law, and hence for taking reasonable steps for the prevention and detection of error, fraud and other irregularities.

CANBURY SCHOOL LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE GOVERNORS OF CANBURY SCHOOL LIMITED

Opinion

We have audited the financial statements of Canbury School Limited (the ‘charity’) for the year ended 31 August 2021 which comprise the statement of financial activities, the summary income and expenditure account, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions 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 of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the governors with respect to going concern are described in the relevant sections of this report.

Other information

The governors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of 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 inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

CANBURY SCHOOL LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE GOVERNORS OF CANBURY SCHOOL LIMITED

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of governors

As explained more fully in the s tatement of governors' r esponsibilities, the governors, who are also the directors of the charity for the purpose of company law, are responsible for the preparation 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 misstatement, whether due to fraud or error.

In preparing the financial statements, the governors are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the audit for the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always 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 financial statements.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

CANBURY SCHOOL LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE GOVERNORS OF CANBURY SCHOOL LIMITED

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

CANBURY SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE GOVERNORS OF CANBURY SCHOOL LIMITED Material mis8tatsm•nls that ari8• to fraud can be harder to d•tsct than th080 that ari￿ from arror a$ thèy may involvo deliberate ¢once8lmpnl or collusion. In responso to the rfsk of Irregula(it16s and non-comp]laneo w￿h laws and règulatlons. we deslgnad procedures which included, but were not lirnrted lo.. -agreging ffinan￿81 statèment disdosures to undeTlying supporting documentation,. -readlng tho mlnutes of meelngs ofthose chArged wth govèmanca.. -enquiring of management as to actual and pot&ntlal Iltigatlon and dalms.. -wswsng ¢orre$ponden¢x with HMRC and relevant fegulator8 such as the Charity CornmFs6ion There ar6 Inharent Ilmtstlons In our audit procèdurès d09etib8d abovo. Tho moro remved that laws and regulatlons are from financlal transactlons, the less Ilk81y It Is that we would bècoma aware of non-compllanc&. Auditing standards also lirTht the audit procedures requlred to Identsfy non-compllance wlth laws and regulatlons to 8nqulry of tho dlrectors and olhor managernent and the Inspectlon of regulatory and legal CO￿88pondence, Sf any. A further de3criplion of our re8ponsibilitles for the aud￿ of the financlal statements Is located on th8 Flnanclal R&po￿ng Coundl'$ ￿h$it# at.. http..1I￿￿.frc.0rg.ukjauditOTsr85pons￿JIIiIIe8. Thls descrtptlon forms part of our BUd￿0¢S report. Thls rèport is mado Bolety to the companl8 member8. a6 a body, In accordance wlth sectlon 391 of the Companlas Aet 2014. Our 8udf¢ work has been undertaken 80 that we might state lo the company's members those matters we are requlr8d to stslé lo them in an audilorf$ report and for no other purpose. To the fvllest extent pemiitted by law, we do not accept or assume responsibllity to anyone other than Iho ￿MPanY 8nd th• compan8 memberB, a8 a body, for our audlt work. for thls report. orforthe oplnlons w8 ha￿ fomwd. FJ Wlde FCCA DChA S•nlor Stat4rt0ry Audltor For and on behalf of Wamerwlldo Llmltèd Chartered Certlfled Accountants Sta￿tOry Audlt Flm) I MA iolL 4 Marigold Drfv8 Bisley Woking SurTey GU24 9SF Wamer Wilde Llmtted Is ellglblo for appointmnt as auditor of the (tarity by vlrtue of hs ellglbllty for appolntment a8 auditor of a company under $8Ctlon 1212 ofthe Companie3 Act 2006. 10-

CANBURY SCHOOL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021

Current financial year

Unrestricted Unrestricted
Restricted Endowment
funds
funds
funds
funds
general d esignated
2021
2021
2021
2021
Notes
£
£
£
£
Income from:
Donations
3
-
-
-
-
Charitable activities
4
1,827,088
-
-
-
Investment income
5
823
16,615
-
-
Total income
1,827,911
16,615
-
-
Expenditure on:
Raising funds
6
-
-
-
4,037
Charitable activities
7
1,648,030
21,040
940
-
Other
12
961
-
-
-
Total resources expended
1,648,991
21,040
940
4,037
Net gains/(losses) on
investments
13
-
-
-
71,326
Net movement in funds
178,920
(4,425)
(940)
67,289
Net movement in funds
178,920
(4,425)
(940)
67,289
Fund balances at 1
September 2020
305,676
742,573
940
1,063,416
Fund balances at 31 August
2021
484,596
738,148
-
1,130,705		 Total
2021
£
-
1,827,088
17,438
1,844,526
4,037
1,670,010
961
1,675,008
71,326
240,844
240,844
2,112,605
2,353,449		 Total
2020
£
35,949
1,852,625
16,352
1,904,926
3,719
1,583,235
-
1,586,954
(14,455)
303,517
303,517
1,809,088
2,112,605

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

CANBURY SCHOOL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Prior financial year

Unrestricted Unrestricted
Restricted Endowment
funds
funds
funds
funds
general d esignated
2020
2020
2020
2020
Notes
£
£
£
£
Income from:
Donations
3
35,949
-
-
-
Charitable activities
4
1,852,625
-
-
-
Investment income
5
1,851
14,501
-
-
Total income
1,890,425
14,501
-
-
Expenditure on:
Raising funds
6
-
-
-
3,719
Charitable activities
7
1,572,991
6,824
3,420
-
Total resources expended
1,572,991
6,824
3,420
3,719
Net gains/(losses) on investments
13
-
-
-
(14,455)
Gross transfers between funds
(300,000)
300,000
-
-
Net movement in funds
17,434
307,677
(3,420)
(18,174)
Fund balances at 1 September 2019
288,242
434,896
4,360
1,081,590
Fund balances at 31 August 2020
305,676
742,573
940
1,063,416		 Total
2020
£
35,949
1,852,625
16,352
1,904,926
3,719
1,583,235
1,586,954
(14,455)
-
303,517
1,809,088
2,112,605

CANBURY SCHOOL LIMITED

SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021

All income funds
2021
£
Gross income
1,844,526
Total expenditure from income funds
1,670,971
Net income for the year
173,555		 2020
£
1,904,926
1,583,235
321,691

CANBURY SCHOOL LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2021

Notes
Fixed assets
Tangible assets
15
Investments
16
Current assets
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within
one year
19
Net current assets
Total assets less current liabilities
Capital funds
Endowment funds
General endowment funds
Revaluation reserve
22
Income funds
Restricted funds
23
Unrestricted funds
Designated funds
24
General unrestricted funds		 2021
£
£
1,190,432
443,719
1,634,151
270,821
1,113,917
1,384,738
(665,440)
719,298
2,353,449
990,297
140,408
1,130,705
-
738,148
484,596
1,222,744
2,353,449		 2020
£
£
1,177,207
370,588
1,547,795
221,224
990,716
1,211,940
(647,130)
564,810
2,112,605
997,442
65,974
1,063,416
940
742,573
305,676
1,048,249
2,112,605

CANBURY SCHOOL LIMrrED BALANCE SHEET (CONTINUED) ASAT31 AUGUST2021 The company is enlitled to ￿ exemption from the audit requlrement ￿ntsIned in section 477 of Ihe Companies Act 2006, fr)r the year ended 31 August 2021, although an audtt has bean carried out und8r s8Ct¢on 144 of the Charities Act 2011. The directors acnowledge resp(ThltM￿ti8S for cOmpl￿ng wth the requirèrnents of the Companies Act 2006 with resped to accounling records and the weparation offinan￿￿ statements. Tho members have not required the company to obtsin an audr( of its financial ¥tatements under the requirements of the Companle8Act 2006, for Ihe y￿r in quethn In 8(xxrdanL wlih section 476. These firta￿al ststem8nts have been prapared In Kc¥)rdanc8 wilh the provlsions apF4l¢ablo to ¢x)mpanle$ 8ubJect to th8 small companies reglmfr. The financial statements were approved by Ihe Govemor5 on ....IT..I.: IL Ms M Harknett (Chalr Trustge Governors. member of F & GP and Put41¢ 88nefft Committees) Company R•gl*tr￿0￿ No. 2518633 15-

CANBURY SCHOOL LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2021

Notes
Cash flows from operating activities
Cash generated from operations
27
Investing activities
Purchase of tangible fixed assets
Purchase of investments
Proceeds on disposal of investments
Interest received
Net cash used in investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2021
£
£
183,531
(75,962)
(10,188)
8,382
17,438
(60,330)
-
123,201
990,716
1,113,917		 2020
£
£
418,440
(54,725)
(37,908)
44,221
16,352
(32,060)
-
386,380
604,336
990,716

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

Charity information

Canbury School Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Canbury School, Kingston Hill, Kingston Upon Thames, Surrey, KT2 7LN.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the governors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the governors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the governors in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Fees represents school fees receivable, together with the recovery of certain direct costs. Income invoiced in advance is deferred. Income receivable in respect of the endowment fund is designated income.

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

(Continued)

1.5 Expenditure

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold Building 0% Freehold buildings, Property improvements 20% straight line Plant and machinery IT: 25% straight line; Office equipment and furniture 25% reducing balance Freehold improvements 25% reducing balance Motor vehicles 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13 Resources Expended

Liabilities are recognised where either a legal or constructive obligation exists.

Charitable expenditure comprises the costs of running the school. This includes departmental expenses together with the cost of teaching staff.

Management and administration costs include the costs of running the school building together with administration staff costs and other costs not directly associated with teaching.

1.14 Irrecoverable VAT

Irrecoverable VAT is written off to the SOFA as incurred and is disclosed in the same manner as the expense to which it relates.

1.15 Leases

Rental costs under operating leases are charged to the statement of financial activity in equal amounts over the period of the leases.

Interest on finance leases are charged to the statement of financial activity whilst capital repayments are debited to the balance sheet reducing the liabiility.

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the governors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations

Total Unrestricted
funds
general
2021 2020
£ £
Donations and gifts - 35,949

4 Charitable activities

Services provided under contract
Other income
Less: deferred income		 2021
£
2,388,533
4,994
(566,439)
1,827,088		 2020
£
2,375,176
33,237
(555,788)
1,852,625

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

5 Investment income

Unrestricted Unrestricted
funds
funds
general d esignated
2021
2021
£
£
Income from unlisted
investments
-
16,615
Interest receivable
823
-
823
16,615		 TotalUnrestricted Unrestricted
funds
funds
general
d esignated
2021
2020
2020
£
£
£
16,615
-
14,501
823
1,851
-
17,438
1,851
14,501		 Total
2020
£
14,501
1,851
16,352

6 Raising funds

Endowment Endowment
funds funds
2021 2020
£ £
Investment management 4,037 3,719
4,037 3,719

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

7 Charitable activities

Staff costs
Depreciation and impairment
Other costs
Grant funding of activities (see note 8)
Share of support costs (see note 9)
Share of governance costs (see note 9)
Analysis by fund
Unrestricted funds - general
Unrestricted funds - designated
Restricted funds		 2021
£
1,240,372
61,777
159,848
1,461,997
21,040
144,345
42,628
1,670,010
1,648,030
21,040
940
1,670,010		 2020
£
1,115,027
50,043
207,703
1,372,773
6,824
173,512
30,126
1,583,235
1,572,991
6,824
3,420
1,583,235

8 Grants payable

Grants to institutions:
Local Authority Funded Students' Fees Shortfall
Grants to individuals		 2021
£
12,476
8,564
21,040		 2020
£
-
6,824
6,824

In order to allow affected students to continue with their studies, the Governors have utilised some of the School's bursary and hardship fund to subsidise a shortfall for students funded by Local Authorities, where those Authorities do not settle the full cost of the invoices issued to them.

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

9 Support costs

Support
costs
Governance
costs
£
£
Premises running costs
42,725
-
Insurance
18,283
-
Repairs and
Maintenance
14,959
-
Office and computer
costs
55,753
-
Subscriptions
1,998
-
Entertaining
1,137
-
Staff recruitment
-
-
Sundry expenses
4,961
-
Advertising
4,529
-
Audit fees
-
8,338
Legal and professional
-
33,865
Bank charges
-
425
144,345
42,628
Analysed between
Charitable activities
144,345
42,628		 2021
£
42,725
18,283
14,959
55,753
1,998
1,137
-
4,961
4,529
8,338
33,865
425
186,973
186,973		 2020 Basis of allocation
£
41,391
14,074
29,195
56,539
4,019
665
20,110
2,354
5,165
7,464 Governance
22,131 Governance
531 Governance
203,638
203,638

Audit fees includes £4,500 audit services, £2,449 accounts preparation and £1,389 irrecoverable VAT (2020: £4,000 ,£2,200 accounts preparation plus £1,244 irrecoverable VAT).

10 Governors

None of the governors (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

The average monthly number of employees during the year was:

Teaching
Non-teaching
Administration and support
Total		 2021
Number
16
14
6
36		 2020
Number
15
10
5
30

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

11
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2021
2020
£
£
1,016,245
910,463
86,070
75,433
138,057
129,131
1,240,372
1,115,027

Annual remuneration for the purposes of disclosing higher paid employees excludes employer's pension contributions.

Key management personnel are defined as the Senior Leadership Team, total remuneration including employer's national insurance and pension contributions for the year was £297,573 (2020: £270,439)

The number of employees whose annual remuneration was more than £60,000 is as follows:

2021 2020
Number Number
Direct charitable: Full time £80,000 - £89,999 - 1
Direct charitable: Full time £90,000 - £99,999 1 -

Of the employees whose emoluments exceed £60,000, 1 (20 20 : 1 ) has retirement benefits accruing under defined benefit pension schemes.

12 Other

Unrestricted
funds
general
2021
Net loss on disposal of tangible fixed assets
961
961		 Total
£
2020
-
-

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

13 Net gains/(losses) on investments

Endowment Endowment
funds funds
2021 2020
£ £
Revaluation of investments 71,773 (17,877)
Gain/(loss) on sale of investments (447)
3,422
71,326 (14,455)

14 Taxation

The whole of the company's income is applied for charitable purposes and as a result the company is exempt from corporation tax.

15 Tangible fixed assets

Cost
At 1 September 2020
Additions
Disposals
At 31 August 2021
Depreciation and impairment
At 1 September 2020
Depreciation charged in the year
Eliminated in respect of disposals
At 31 August 2021
Carrying amount
At 31 August 2021
At 31 August 2020		 Freehold
Building
£
1,054,052
-
-
1,054,052
-
-
-
-
1,054,052
1,054,052		 Plant and
machinery
Freehold
improvements
Motor vehicles
£
£
£
315,549
325,190
24,320
11,094
32,708
32,160
(5,957)
(69,747)
-
320,686
288,151
56,480
265,539
262,304
14,060
19,960
31,212
10,605
(4,996)
(69,747)
-
280,503
223,769
24,665
40,183
64,382
31,815
50,009
62,886
10,260		 Total
£
1,719,111
75,962
(75,704)
1,719,369
541,903
61,777
(74,743)
528,937
1,190,432
1,177,207

The governors consider that the market value of freehold land and buildings is materially greater than the cost of those buildings. The market value cannot be easily quantified due to alterations made over time to make the building suitable for its specialised use as a school.

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

15 Tangible fixed assets (Continued)
16 Fixed asset investments
Listed
investments
£
Cost or valuation
At 1 September 2020 370,588
Additions 10,188
Valuation changes 71,773
Disposals (8,830)
At 31 August 2021 443,719
Carrying amount
At 31 August 2021 443,719
At 31 August 2020 370,588

Fixed asset investments revalued

Investments are valued at Market Value, specifically the previous trading day's closing prices. The historic cost of investments as at the year end is £315,955 (2020: £322,658).

17
Financial instruments
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
18
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2021
£
443,719
2021
£
229,037
27,237
14,547
270,821		 2020
£
370,588
2020
£
191,943
22,752
6,529
221,224

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

19 Creditors: amounts falling due within one year

Notes
Other taxation and social security
Deferred income
20
Trade creditors
Other creditors
Accruals
Deferred income
Deferred Autumn Term Fees		 2021
£
22,952
566,439
6,337
57,612
12,100
665,440
2021
£
566,439		 2020
£
18,926
555,788
5,069
55,398
11,949
647,130
2020
£
555,788

20 Deferred income

21 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The pension cost charge represents contributions payable by the company to the fund. The organisation also participates as a member of a group pension, the Teacher's Pension Scheme (TPS). Contributions to the scheme are determined by the Government Actuary every five years using normal actuarial principles. The scheme is a statutory, contributory, final salary scheme and the company is unable to identify its share of underlying assets and liabilities. Consequently, the charity has accounted for the contributions as if it were a defined contribution scheme.

The charge to profit or loss in respect of defined contribution schemes was £138,057 (2020 - £129,131).

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

22 Endowment funds

The endowment fund was established by a gift from a previous headmaster. It comprises the school building and investment portfolio.

Balance at
1 September
2019
£
Permanent endowments
Permanent
endowment
1,081,590
1,081,590		 Incoming
resources
£
-
-		 Movement in funds
Resources
expended
Change in
Market Value
Revaluations
gains and
losses
Balance at
1 September
2020
£
£
£
£
(3,720)
(14,454)
-
1,063,416
(3,720)
(14,454)
-
1,063,416		 Incoming
resources
£
-
-		 Movement in funds
Resources
expended
Change in
Market Value
Revaluations
gains and
losses
£
£
£
(4,037)
71,326
-
(4,037)
71,326
-		 Balance at
31 August
2021
£
1,130,705
1,130,705

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

23 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at Resources Balance at Resources Balance at
1 September expended 1 September expended 31 August
2019 2020 2021
£ £ £ £ £
Minibus 4,360 (3,420) 940 (940) -

A donation was received during the year ended 31 August 2017 to enable the purchase of a minibus, Depreciation is charged from 1 September 2017 against this fund.

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

24 Designated funds

A designated fund has been established from income generated by the charity's investment portfolio to fund major repairs to property, bursaries and certain capital expenditure.

Balance at
1 September
2019

£
Investment Income Bursary and Major Repairs Fund
334,896
Information Technology Development Fund
100,000
Refurbishment Fund
-
434,896		 Movement in funds
Incoming
resources
Resources
expended
£
£
14,501
(6,824)
-
-
-
-
14,501
(6,824)		 Movement in funds
Transfers
Balance at
1 September
2020
Incoming
resources
Resources
expended
Balance at
31 August
2021
£
£
£
£
£
-
342,573
16,615
(21,040)
338,148
-
100,000
-
-
100,000
300,000
300,000
-
-
300,000
300,000
742,573
16,615
(21,040)
738,148

Bursary Fund Donations represent donations to the school, allocated to provide bursaries by the Trustees.

The Information Technology Development Fund represent a provision for planned IT expenditure.

Refurbishment Fund: The trustees have established a designated fund to refurbish designated areas including the student cloakroom and toilets.

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

25
Analysis of net assets between funds
Unrestricted
funds
Designated
Funds
Restricted
funds
Endowment
Funds
2021
2021
2021
2021
£
£
£
£
Fund balances at 31
August 2021 are
represented by:
Tangible assets
136,380
-
-
1,054,052
Investments
-
367,066
-
76,653
Current assets/(liabilities)
348,216
371,082
-
-
484,596
738,148
-
1,130,705		 TotalUnrestricted
funds
Designated
Funds
2021
2020
2020
£
£
£
1,190,432
113,791
-
443,719
28,015
342,573
719,298
163,870
400,000
2,353,449
304,736
742,573		 Restricted
funds
Endowment
Funds
2020
2020
£
£
-
1,063,416
-
-
940
-
1,880
1,063,416		 Total
2020
£
1,177,207
370,588
564,810
2,112,605

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

26 Related party transactions

There were no disclosable related party transactions during the year (2020 - none) .

27
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Loss on disposal of tangible fixed assets
Loss/(gain) on disposal of investments
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase in creditors
Increase in deferred income
Cash generated from operations
28
Analysis of changes in net funds
The charity had no debt during the year.		 2021
£
240,844
(17,438)
961
447
(71,773)
61,777
(49,597)
7,659
10,651
183,531		 2020
£
303,517
(16,352)
-
(3,422)
17,877
50,043
41,828
7,681
17,268
418,440