**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 . - 1 - ## **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. - 2 - 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. - 4 - ## **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. - 5 - ## **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. - 6 - 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 bc*ty, 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. - 8 - ## **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| |---|---| - 9 - ## **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| - 10 - ## **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| |---|---|---| - 11 - 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| |---|---|---| - 13 - ## **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. - 14 - ## **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. - 15 - ## **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
**Total**Unrestricted 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|**Total**Unrestricted
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 -