2022-08-31-accounts

Charity registration number 803766

Company registration number 2516633 (England and Wales)

CANBURY SCHOOL LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

CANBURY SCHOOL LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Governors	Mr M Cook (Estates)
	Mr C Soden-Bird (Chair of
	Governors and Compliance)
	Mr W Keat (Curriculum and	(Appointed 15 June 2022)
	Academic)
	Mrs C Patterson (Health and	(Appointed 19 May 2022)
	Safety, SEND)
	Dr E Shergold (Safeguarding and	(Appointed 22 September 2022)
	Pastoral)
	Mr R Marks (Finance and General	(Appointed 26 April 2022)
	Purpose)
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 - 3
Statement of governors' responsibilities	4
Independent auditor's report	5 - 7
Statement of financial activities	8 - 9
Summary income and expenditure account	10
Balance sheet	11 - 12
Statement of cash flows	13
Notes to the financial statements	14 - 28

CANBURY SCHOOL LIMITED

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2022

The governors present their annual report and financial statements for the year ended 31 August 2022.

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 21 was 62 .

Achievements and Performance

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 educational performance of the school was demonstrated by the public examination results. In the summer of 2022, 77% of students achieved 5 or more GCSEs graded 4-9, including Maths and English. 13% of the total results were between 7-9. The results were on target for this year's year group and deservedly awarded. 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, onsite pastoral therapies, Growth Mindset, Occupational Therapy, Prada Willi syndrome, Positive Behaviour Support, Effective Working Practices with an LSA, Developmental Trauma, Harmful Sexual Behaviour, Curriculum updates, Marking and Feedback, Annual Review subject feedback forms support, Tics, Fire marshalling.

The School enhanced its facilities by upgrading its outside space with an Astro sports court and playground. A new school bell system was installed to improve emergency evacuation and lockdown procedures.

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 benefit from being educated in a deliberately small school.

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 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 £770 for various local charities including Jeans 4 Genes, Show Racism the Red Card, Children in Need, Save the Children, World Book Day, Red Nose Day and Ukraine Appeal. This money was raised through a combination of mufti days, bakes sales and activities such as tie-dye T-shirts .

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CANBURY SCHOOL LIMITED

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

The School has a bursary fund which is awarded following a means tested assessment of those families in need who submit an application.

Investment performance this year yielded a capital return of -32% (2021: 22%) and an income return of 3.9% (2021: 4.7%). 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 %

FOR THE YEAR ENDED 31 AUGUST 2022 Financial review The Statement of Financial Activities shows net incoming resources of £87,654 (2021: £169,518). Having taken account of net gains/(losses) on investments of £(37,789) (2021: £71,326), the net movement in funds amounts to a surplus of £49,865 (2021: £240,844).

Income generated annually can be expended as required.

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

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.

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. The governors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The 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.

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.

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.

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.

FOR THE YEAR ENDED 31 AUGUST 2022 Plans include evaluation of the effectiveness of, and development of, the post-16 curriculum; the creation of additional rooming and accommodation; and the absorption of IT across the curriculum, which will include significant expenditure on the upgrade of IT and IT training.

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CANBURY SCHOOL LIMITED GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Through the risk management pr(￿esSeS esta￿lShed for the Sthrd. the Goknpmors are satlsffiod that the major risks identified have been ad4uatety mitigated where necessary. 11 recognised that systems can only provide reasonable but not absolute assurance that Ma1￿ risks have been adequately managed. Our kay objectivé for the fvture remains the same as rewrted atthte for this year. Structure and overn8nce Canbury Schod Limtted 13 a charitable company found8d in 1982, tharity registration numb8r 803766, company registrats'on number 2516633, the liabllity of Its members limtted to £1 earth by guarantee. The Reglstered Office and prlncipal address of the Company 18 at Kingston Him. Kingston4JpcTrThames, Surrey, KT2 7LN. The company Is govemed ty its Memorandum and Artlcles of Assoc4atlon dated 1990 and rovl3ed In 2008. The Articles deal with such issues as the general powers and duties of the Govemor5 as w811 as the d8tail8d a¥p8cts ol the day to day runnlng of thg $thrd. Rev. A Beck Mr M Cook IEstsles} Ms M Harknett Mr C Soden-Blrd (Chalr of Govemors and Cornpliancel Ms E Hughos {Resign8d 31 Ds¢ember 20211 {Resigned 31 A￿ust 2022} (Appointed 4 October 2021 and resigned 11 Novemhr 2021) Mr W Keat (CUr￿¢U1uM and Acad8mlcl {ApFdntsd 15 Jun8 2022} Mrs C Patterson {H8alth and Safety, SEND} (Appdntod 19 May 2022) Dr E Shergold ISaf6guarding and Paslorall IApwnl8d 22 September 2022} Mr R Marks IFinanrA and General Purpose) IAppcAnted 26 Awil 2022) None of the govemors has any beneficial ntsrest in the o)mpany. The Go¥emors meet as a Board at18ast thr80 times a yoar to dots￿1ne the general Follcy of th8 Company and to review its overall management and t￿tr¢4. for which thèy af6 legalty responsi￿0. The work of implgmenling the Board's F)olicies and the day-ti>day running of the sCh(m￿ is delegated to the H8ad and tho Bursar. A resolullon propowng that Wamer Wllde Llmtted be reappdnted 88 audltors of the o)mpany ￿11 be put to the members. Dlsclosur• of Inforniatlon to audltor Each of th8 ￿vernOr$ has ￿nfirrned that the￿ is no infomwtion of vthich they are aware which is relevant to the audit. but of which the auditor is unaware. They have further c￿￿)fiftned thal they have taken appropriate steps to identify such relevant inforrnation and lo establlsh that the audttor are aware of SLKh Infom1a￿0n. Approved by th& Board of Directors and ￿gned on lis behalf by: Mr C Soden-Bird (Chair of Governors and Compllance) Govemor Dated. Il....J.:..l.S.

CANBURY SCHOOL LIMITED

STATEMENT OF GOVERNORS' RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2022

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:

• select suitable accounting policies and then apply them consistently;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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.

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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 2022 which comprise the statement of financial activities, the summary income and expenditure account, the balance sheet, the statement of cash flows and notes to the financial statements, including 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:

• give a true and fair view of the state of the charitable company's affairs as at 31 August 2022 and of its incoming resources and application of resources, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

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 the provisions available for small entities, in the circumstances set out in note 28 to the financial statements, 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The governors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

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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:

• the information given in the financial statements is inconsistent in any material respect with the governors' r eport; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records; or

• we have not received all the information and explanations we require for our audit.

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 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .

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:

• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and

• testing controls with walk through procedures and substantive transaction testing;

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

• performed analytical procedures to identify any unusual or unexpected relationships;

• tested journal entries to identify unusual transactions;

• assessed whether judgements and assumptions made in determining any accounting estimates were indicative of potential bias;

• investigated the rationale behind significant or unusual transactions; and

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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CANBURY SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE GOVERNORS OF CANBURY SCHOOL LIMITED This report Is made srl8ly to the wmp8n￿S memlxrn. as a bcty, In accordance ￿lIh Seca￿ 391 of th• Companl&s Acl 2014. Our audit th has un(lertaken so that we mKJht stale to ¢ompany's mambers th058 maiters we Wuifed to stslè to them in an audrtorfs r8pc¥t and for no oth8r wrpose. To thè lull•st $xt•nt pemthed by law. we do not accept OT wum8 resporffjibilty to anyone Othgr than the cx)mpany 8nd th8 compan￿8 m8mbe(s as a bTr. for ow awjitwork. forthis reprt Or￿the opknlom w8 have fryTf*d. FJ Wlld• IS•nlor StatutoryAudltor) for and on b•h•lf ofWamerWild• Umlt•d IIM L IoLg Chart•r•d C•rtM•d A¢¢ount•nts ststuiory AudStof 4 M8rigc4d Ddve Bls Woknng Surrey GU24 9SF Warn•r Wlldts Llmlt•d18 d￿ltIe for •ppolntment aB a￿111￿ ol th8 charity by wrtua of Its elKilblllty for oppolntm•nl as audllor of a company und•r s•don 1212 of th& CryrtpanlesAcl 2LN)6.

CANBURY SCHOOL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022

Current financial year

Unrestricted Unrestricted Endowment funds funds funds general d esignated 2022 2022 2022 Notes £ £ £ Income from: Charitable activities 3 1,790,085 - - Investment income 4 119 17,264 - Total income 1,790,204 17,264 - Expenditure on: Raising funds 5 - - 4,205 Charitable activities 6 1,701,269 14,190 - Other 11 150 - - Total resources expended 1,701,419 14,190 4,205 Net gains/(losses) on investments 12 - - (37,789) Net movement in funds 88,785 3,074 (41,994) Net movement in funds 88,785 3,074 (41,994) Fund balances at 1 September 2021 484,596 738,148 1,130,705 Fund balances at 31 August 2022 573,381 741,222 1,088,711	Total 2022 £ 1,790,085 17,383 1,807,468 4,205 1,715,459 150 1,719,814 (37,789) 49,865 49,865 2,353,449 2,403,314	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

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

All income and expenditure derive from continuing activities.

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CANBURY SCHOOL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Prior financial year Unrestricted Unrestricted Restricted Endowment funds funds funds funds general d esignated 2021 2021 2021 2021 Notes £ £ £ £ Income from: Charitable activities 3 1,827,088 - - - Investment income 4 823 16,615 - - Total income 1,827,911 16,615 - - Expenditure on: Raising funds 5 - - - 4,037 Charitable activities 6 1,648,030 21,040 940 - Other 11 961 - - - Total resources expended 1,648,991 21,040 940 4,037 Net gains/(losses) on investments 12 - - - 71,326 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 2,112,605 2,353,449

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CANBURY SCHOOL LIMITED

SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022

All income funds 2022 £ Gross income 1,807,468 Total expenditure from income funds 1,715,609 Net income for the year 91,859	2021 £ 1,844,526 1,670,971
	173,555

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CANBURY SCHOOL LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2022

Notes Fixed assets Tangible assets 14 Investments 15 Current assets Debtors 17 Cash at bank and in hand Creditors: amounts falling due within one year 18 Net current assets Total assets less current liabilities Capital funds Endowment funds General endowment funds Revaluation reserve 21 Income funds Unrestricted funds Designated funds 23 General unrestricted funds	2022 £ £ 1,176,881 405,377 1,582,258 496,593 1,077,025 1,573,618 (752,562) 821,056 2,403,314 987,345 101,366 1,088,711 741,222 573,381 1,314,603 2,403,314	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

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CANBURY SCHOOL LIMITED BALANCE SHEET {CONTINUED) ASAT31AUGUST2022 The company 15 entitlad to th8 exemption frrjn the audit wuirement contained in ￿tiOn 477 of Ihe Companies Act 2006, for the year erKled 31 August 2022, although an audit has been carrigd out under s8Ction 144 of the Charities Act 2011. The directors acknowledge their responsibi5itses for complwng with the requirements of the Companies Act 2CN)6 th respect to ac(ountiro rec¥)rds arKI the preparalion of finanaal statements. The members havg not required the ￿rnPany to obtain an audit of ils financ4al statements under the requirements of the Companies Act 2CM)6. for the year in question in accordan￿ with section 476. These financial statements have been wepared in aCC(thn￿ with the provisions applicable to companies subject to the small ojmpanies The financial statements were atwved by the (>)vemors on ... Mr C Soclen-Bird (Chair of Govemors and Complian￿) Trustee Company r•glstratlon number 2516633 12-

CANBURY SCHOOL LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022

Notes Cash flows from operating activities Cash (absorbed by)/generated from operations 26 Investing activities Purchase of tangible fixed assets Purchase of investments Proceeds on disposal of investments Investment income received Net cash used in investing activities Net cash used in financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year	2022 £ £ (10,324) (44,505) (59,022) 59,575 17,384 (26,568) - (36,892) 1,113,917 1,077,025	2021 £ £ 183,531 (75,962) (10,188) 8,382 17,438 (60,330) - 123,201 990,716 1,113,917

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CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

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.

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CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

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.

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CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

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

• The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

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.

• 16 -

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

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 Charitable activities

Services provided under contract Other income Less: deferred income Investment income Unrestricted Unrestricted funds funds general d esignated 2022 2022 £ £ Income from unlisted investments - 17,264 Interest receivable 119 - 119 17,264	2022 £ 2,441,458 23,352 (674,725) 1,790,085 TotalUnrestricted Unrestricted funds funds general d esignated 2022 2021 2021 £ £ £ 17,264 - 16,615 119 823 - 17,383 823 16,615	2021 £ 2,388,533 4,994 (566,439) 1,827,088 Total 2021 £ 16,615 823 17,438

4 Investment income

5 Raising funds

Endowment	Endowment
funds	funds
2022	2021
£	£
4,205	4,037

Investment management

• 17 -

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

5 Raising funds 6 Charitable activities Staff costs Depreciation and impairment Other costs Grant funding of activities (see note 7) Share of support costs (see note 8) Share of governance costs (see note 8) Analysis by fund Unrestricted funds - general Unrestricted funds - designated Restricted funds	(Continued) 4,205 4,037 2022 2021 £ £ 1,232,735 1,240,372 57,905 61,777 179,391 159,848 1,470,031 1,461,997 5,565 21,040 164,616 144,345 75,247 42,628 1,715,459 1,670,010 1,701,269 1,648,030 14,190 21,040 - 940 1,715,459 1,670,010

7 Grants payable

Grants to institutions: Local Authority Funded Students' Fees Shortfall Grants to individuals	2022 £ - 5,565 5,565	2021 £ 12,476 8,564 21,040

• 18 -

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

7 Grants payable

(Continued)

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.

8 Support costs

Support costs Governance costs £ £ Premises running costs 45,756 - Insurance 25,683 - Repairs and Maintenance 23,351 - Office and computer costs 59,768 - Subscriptions 2,750 - Entertaining 28 - Sundry expenses 402 - Advertising 6,878 - Audit fees - 8,580 Legal and professional - 66,189 Bank charges - 478 164,616 75,247 Analysed between Charitable activities 164,616 75,247	2022 £ 45,756 25,683 23,351 59,768 2,750 28 402 6,878 8,580 66,189 478 239,863 239,863	Support costs Governance costs £ £ 42,725 - 18,283 - 14,959 - 55,753 - 1,998 - 1,137 - 4,961 - 4,529 - - 8,338 - 33,865 - 425 144,345 42,628 144,345 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

Audit fees includes £4,650 audit services, £2,500 accounts preparation and £1,430 irrecoverable VAT (2021: £4,500 ,£2,449 accounts preparation plus £1,389 irrecoverable VAT).

9 Governors

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

• 19 -

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

10 Employees

The average monthly number of employees during the year was:

Teaching Non-teaching Administration and support Total Employment costs Wages and salaries Social security costs Other pension costs	2022 Number 17 15 6 38 2022 £ 1,035,879 95,952 100,904 1,232,735	2021 Number 16 14 6 36 2021 £ 1,016,245 86,070 138,057 1,240,372

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 £282,377 (2021: £297,573)

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

£60,000 is as follows:
		2022	2021
		Number	Number
Direct charitable: Full time £90,000	- £99,999	1	1

Of the employees whose emoluments exceed £60,000, 1 (20 21 : 1 ) has retirement benefits accruing under defined benefit pension schemes.

11 Other

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2022	2021
Net loss on disposal of tangible fixed assets	150	961
	150	961

• 20 -

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

11 Other

(Continued)

12 Net gains/(losses) on investments

	Endowment	Endowment
	funds	funds
	2022	2021
	£	£
Revaluation of investments	(62,325)	71,773
Gain/(loss) on sale of investments	24,536	(447)
	(37,789)	71,326

13 Taxation

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

14 Tangible fixed assets

Cost At 1 September 2021 Additions Disposals At 31 August 2022 Depreciation and impairment At 1 September 2021 Depreciation charged in the year Eliminated in respect of disposals At 31 August 2022 Carrying amount At 31 August 2022 At 31 August 2021	Freehold Building £ 1,054,052 - - 1,054,052 - - - - 1,054,052 1,054,052	Plant and machinery Freehold improvements Motor vehicles £ £ £ 320,685 288,151 56,480 17,885 26,620 - (591) (25,698) - 337,979 289,073 56,480 280,503 223,768 24,665 21,379 28,573 7,954 (441) (25,698) - 301,441 226,643 32,619 36,538 62,430 23,861 40,183 64,382 31,815	Total £ 1,719,368 44,505 (26,289) 1,737,584 528,936 57,906 (26,139) 560,703 1,176,881 1,190,432

• 21 -

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

14 Tangible fixed assets

(Continued)

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.

15 Fixed asset investments

	Listed
	investments
	£
Cost or valuation
At 1 September 2021	443,719
Additions	59,022
Valuation changes	(62,325)
Disposals	(35,039)
At 31 August 2022	405,377
Carrying amount
At 31 August 2022	405,377
At 31 August 2021	443,719

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 £347,393 (2021: £315,955).

16 Financial instruments Carrying amount of financial assets Instruments measured at fair value through profit or loss 17 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income	2022 £ 405,377 2022 £ 451,701 31,825 13,067 496,593	2021 £ 443,719 2021 £ 229,037 27,237 14,547 270,821

• 22 -

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

18 Creditors: amounts falling due within one year Notes Other taxation and social security Deferred income 19 Trade creditors Other creditors Accruals and deferred income 19 Deferred income Other deferred income Deferred income is included in the financial statements as follows: Deferred income is included within: Current liabilities Movements in the year: Deferred income at 1 September 2021 Released from previous periods Resources deferred in the year Deferred income at 31 August 2022

2022 2021 £ £ 21,670 22,952 674,725 566,439 1,062 6,337 42,405 57,612 12,700 12,100 752,562 665,440 2022 2021 £ £ 674,725 566,439 2022 2021 £ £ 674,725 566,439 566,439 555,788 (566,439) (555,788) 674,725 566,439 674,725 566,439

Income is invoiced termly in advance. Income is deferred where it relates to future periods.

• 23 -

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

20 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 £100,904 (2021 - £138,057).

• 24 -

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

21 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 2020 £ Permanent endowments Permanent endowment 1,063,416 1,063,416	Incoming resources £ - -	Movement in funds Resources expended Change in Market Value Revaluations gains and losses Balance at 1 September 2021 £ £ £ £ (4,037) 71,326 - 1,130,705 (4,037) 71,326 - 1,130,705	Incoming resources £ - -	Movement in funds Resources expended Change in Market Value Revaluations gains and losses £ £ £ (4,205) (37,789) - (4,205) (37,789) -	Balance at 31 August 2022 £ 1,088,711 1,088,711

• 25 -

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

22 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:

					Movement
					in funds
		Balance at	Resources	Balance at	Incoming	Balance at
	1	September	expended	1 September	resources	31 August
		2020		2021		2022
		£	£	£	£	£
Minibus		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.

23 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.

		Movement	in funds		Movement	in funds
	Balance at	Incoming	Resources	Balance at	Incoming	Resources	Balance at
	1 September	resources	expended	1 September	resources	expended	31 August
	2020			2021			2022
	£	£	£	£	£	£	£
Investment Income
Bursary and Major
Repairs Fund	342,573	16,615	(21,040)	338,148	17,264	(5,565)	349,847
Information Technology
Development Fund	100,000	-	-	100,000	-	-	100,000
Refurbishment Fund	300,000	-	-	300,000	-	(8,625)	291,375
	742,573	16,615	(21,040)	738,148	17,264	(14,190)	741,222

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.

• 26 -

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

24 Analysis of net assets between funds Unrestricted funds Designated Funds Endowment Funds 2022 2022 2022 £ £ £ Fund balances at 31 August 2022 are represented by: Tangible assets 122,829 - 1,054,052 Investments 20,871 349,847 34,659 Current assets/(liabilities) 429,681 391,375 - 573,381 741,222 1,088,711	TotalUnrestricted funds Designated Funds 2022 2021 2021 £ £ £ 1,176,881 136,380 - 405,377 - 367,066 821,056 348,216 371,082 2,403,314 484,596 738,148	Restricted funds Endowment Funds 2021 2021 £ £ - 1,054,052 - 76,653 - - - 1,130,705	Total 2021 £ 1,190,432 443,719 719,298 2,353,449

• 27 -

CANBURY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

25 Related party transactions

There were no disclosable related party transactions during the year (2021 - none) .

26 Cash generated from operations 2022 £ Surplus for the year 49,865 Adjustments for: Investment income recognised in statement of financial activities (17,383) Loss on disposal of tangible fixed assets 150 (Gain)/loss on disposal of investments (24,536) Fair value gains and losses on investments 62,325 Depreciation and impairment of tangible fixed assets 57,905 Movements in working capital: (Increase) in debtors (225,772) (Decrease)/increase in creditors (21,164) Increase in deferred income 108,286 Cash (absorbed by)/generated from operations (10,324)

2021 £ 240,844 (17,438) 961 447 (71,773) 61,777 (49,597) 7,659 10,651 183,531

27 Analysis of changes in net funds

The charity had no debt during the year.

28 Non-audit services provided by auditor

In common with many businesses of our size and nature we use our auditor to assist with the preparation of the financial statements.

• 28 -