Charity registration number 309914
Company registration number 00414674 (England and Wales)
SUNNYLANDS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
SUNNYLANDS LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Governors
T Fray
S Dawson
Mrs E S Bell
P M Drage
J Laskey
(Appointed 13 December 2022)
S D Aldwinckle
(Appointed 13 December 2022)
Charity number
309914
Company number
00414674
Registered office
52 Headlands
Kettering
Northamptonshire
United Kingdom
NN15 6DJ
Auditor
Azets
Thorpe House
93 Headlands
Kettering
Northamptonshire
United Kingdom
NN15 6BL
Solicitors
Lamb & Holmes Solicitors
West Street
Kettering
Northamptonshire
United Kingdom
NN16 0AZ
SUNNYLANDS LIMITED
CONTENTS
Page
Council Of Governors report
1 - 5
Statement of Council of Governors responsibilities
6
Independent auditor's report
7 - 9
Statement of financial activities
10
Balance sheet
11 - 12
Statement of cash flows
13
Notes to the financial statements
14 - 24
SUNNYLANDS LIMITED
COUNCIL OF GOVERNORS REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 AUGUST 2023
- 1 -

The governors present their annual report and financial statements for the year ended 31 August 2023.

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 school'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).

Objectives and activities

The objectives of the School as stated in its Memorandum and Articles of Association are to establish, maintain, manage, develop and carry on a school for boys and/​or girls at ‘Sunnylands’ in Kettering.

 

In meeting these objectives, St Peter’s School’s public benefit aim is to provide a first class education, independent of the State system, to pupils between the ages of 2¾ and 11, based on a sound Christian foundation. It aims to do this through strong academic tuition, and also the development of sporting, artistic, musical and social skills. This is intended to provide an environment where each pupil can develop and fulfill his or her potential, and to prepare them for a senior school of theirs and their parents’ choice.

 

St Peter’s School also provides employment for 30 local people, and seeks to source as many of its suppliers and contractors from the local area as is economically viable.

 

Public Benefit – Bursaries and discounts

St Peter’s School educates almost 100 pupils (average for the year) independently of the State system. The School offers discretionary means tested Bursaries and parents and the public in general are made aware of this either upon enquiry, on the School registration form and also through the School’s website. Applications are considered by the Finance Committee in accordance with the Bursary Policy, and based upon individual situation and need. Bursaries are intended to provide assistance when possible to benefit parents experiencing financial hardship who wish to enter or remain at the School. Sibling and staff discounts are also available. The School was able to offer bursaries and discounts to 25 children (24 pupils in 2021/​22) during the year including those discounts offered to parents with more than one child at the School. By educating over 78 primary age pupils outside of the state system the school has saved the public purse a sum in the region of £582,000 calculated at £7,460 (2023/24) per primary school aged child.

 

Public Benefit – Associated activities for the benefit of the community

Links are maintained with various nearby state maintained schools, resulting in the sharing of resources and supporting career development for young people. The School also supports the local Higher Education College and local secondary schools by providing work experience opportunities in several parts of the curriculum and in the preschool. This is a valuable work experience opportunity provided to local students to aid the transition from full time education into work. St Peter’s School is also a partner school with the University of Northampton providing valuable placements and tutoring/mentoring opportunities. St Peter’s Staff also volunteer at the university as part of their admissions and teacher recruitment processes.

 

The School passionately encourages the support of local and national charities and continues to raise money for donation through varied activities throughout the year. We continue to support charities such as Children in Need, Red Nose Day, the Royal British Legion Poppy Appeal and Sport Relief. The School maintains its links with the Goodwill Children’s Homes in India but has also forged new links with local care homes. Children have performed for and read with residents and also done seasonal activities such making Gingerbread men at Christmas and carving pumpkins near Halloween.

 

The upper part of the school is housed in ‘Sunnylands’. This is a Grade 2 listed property which is the former home of a locally born renowned philanthropic national businessman. This maintains and preserves a Grade 2 listed property which was once one of the largest private houses in Kettering, for generations to come.

 

The School is also committed to extending its facilities to the local community wherever possible. A local state school visits regularly to use the Forrest School area and also held it’s annual sports day in our grounds. The school participates in the Kettering schools sports partnership promoting sport in schools locally across the maintained sector - in Kettering and at County level. The thriving PTA hosts many events including the Christmas Fayre, which are extended to the wider public through advertising and recommendation by parents.

SUNNYLANDS LIMITED
COUNCIL OF GOVERNORS REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 2 -

In setting objectives and planning activities, the Governors have given due regard to the public benefit guidance published by the Charities Commission, and in particular to its supplementary public benefit guidance on advancing education and on fee charging. The Board considers that through the Bursary Scheme, local employment opportunities and the assistance given to the local community it is fulfilling its public benefit responsibilities. The School has not received any approach from local maintained schools as part of the ‘Schools Together’ programme.

The governors have paid due regard to guidance issued by the Charity Commission in deciding what activities the school should undertake.

Achievements and performance

The Board is pleased to report that it considers this to have been a very successful year in terms of

progress made for all groups of pupils. It has been another busy year with a packed calendar of events which included: sports days, musical concerts, speech days, fayres and clubs. We have also been on school trips and a residential for Year 5 and 6 to Govilon, in Wales.

 

Pupil numbers are steadily growing and we are consolidating our classes which are slowly expanding. This academic year we are back up to 7 classes with no joined year groups.

 

There is always huge interest in the school and social media channels continue to be strong, the website continues to grow and is widely-regarded as one of the best in the area. The Preschool (known as Sunnylands Nursery during this period) continues to appeal to both prospective pupils of the School and offers an excellent preschool provision.

 

Attendance in both school and preschool continues to be above national rates. Prechool has an excellent local reputation and continues to offer flexible attendance patterns incorporating the various funding schemes available from Government via the LEA to support working parents.

 

This has been a year of many successes, including commendation for our sports provision (by ISA) but also a successful musical year, with a number of very well attended events; the number of children having peripatetic lessons has also grown. Music always flourishes at St Peter’s and the choirs, orchestras and ensembles have performed at wide-ranging events across the county. This year we also presented a Shakespeare extravaganza for two sold-out nights.

We continue to develop our curriculum, improve assessment and reporting and reflect on the latest

pedagogies for all of our teachers. Assessment data shows that, on average, St Peter’s children are working well above age related expectations compared to that of their peers and significantly above those in maintained schools in English, Maths, Science and Spelling. We have sustained scores around 10 standardised score points higher than age-related expectations. Sub-groups have also made excellent progress, including SEND, AGT and EAL.

 

Most importantly, our children continue to be happy. Our parent surveys, children’s groups (School Council and Eco Committee) repeatedly report that our children want to be in school and they want to learn, and they all feel supported; this is particularly impressive because of our growing, diverse and multinational family base.

 

Building and Development

The Development Committee continues to review facilities across the School to enable resources to be allocated appropriately.

 

Once again this year, the new eco building known as The Cedar Hub has proved invaluable as a multi-functional space, incorporating a larger teaching space for Art & DT, a wrap-around care provision, and a space for teaching multiple larger groups.

SUNNYLANDS LIMITED
COUNCIL OF GOVERNORS REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -

The program of planned investment in the fabric and facilities of the School continues, and the School continues to invest in resources, equipment and IT across the curriculum to keep the learning exciting, whilst still ensuring that the curriculum is underpinned by traditional and well established teaching methods.

 

Every effort has been made to improve the position of the School and to enhance the curriculum. The School is in a position to look forward cautiously. Taking decisions to secure expansion and success in the coming years, and seeks to extend its provision further by active marketing opportunities and refreshment of the online and internet presence.

Financial review

The funds of the Company have been applied in providing a Christian education for the pupils of the School. It is for this purpose that the charity’s assets are held. The financial position at the balance sheet date is considered by Governors to be satisfactory for the future of the School, and the Governors and staff continue to seek to attract more pupils to the School.

 

The financial statements show that at the Balance Sheet date the Company had unrestricted reserves of £935,168 (2022: £1,035,843) of which £931,027 (2022: £888,876) is invested in fixed assets. Note 19 to the accounts shows in detail that designations of £40,000 have been set aside for various purposes. The remaining level of reserves not designated or invested in fixed assets at the balance sheet date are £4,141 (2022: £21,967).

The Governors anticipate that the School will continue to generate sufficient reserves by means of annual operating surpluses to generate resources for the maintenance and development of the School, and that undesignated reserves are sufficient to give adequate levels of working capital to cover unexpected emergencies.

 

The Governors review the reserve levels of the Company annually. This review encompasses the nature of income and expenditure streams, the need to match income with commitments and the nature of the reserves.

Plans for future periods

The Governors intend to continue their current strategies of maintaining the School’s position in a competitive market by investing to provide high quality education for our pupils, achieving high academic results and maintaining the breadth and depth of extra-curricular activities and experiences for our pupils.

 

The Headteacher and senior teachers continue to review the curriculum to ensure that the educational qualifications remain entirely appropriate for our pupil’s development and inline with statutory requirements.

 

Future development plans are financed primarily from fee income and reserves. Fixed assets are detailed at note 11 and are depreciated in accordance with the depreciation policies, and are invested to protect the balance between a sound infrastructure and financial base for the next generation of pupils.

Structure, governance and management

The School is registered as a charitable company limited by guarantee and was incorporated on 9th July 1946. The liability of its members is limited by guarantee as stated in its Memorandum and Articles of Association.

SUNNYLANDS LIMITED
COUNCIL OF GOVERNORS REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 4 -

The management of the School is the responsibility of the Governors whose appointment is governed by the Memorandum and Articles of Association. The terms Director and Governor are interchangeable. The Board of Governors consists of seven persons.

The day to day running of the School is delegated to the Headteacher and Bursar.

The members of the Council who have served during the year are listed below:

T Fray
S Dawson
J E Lamb
(Resigned 13 December 2022)
Mrs E S Bell
S Bowers
(Resigned 13 December 2022)
P M Drage
Ms H M Marshall
(Resigned 13 December 2022)
J Laskey
(Appointed 13 December 2022)
S D Aldwinckle
(Appointed 13 December 2022)

Mr Dawson and Mr Lamb retire by rotation and being eligible offer themselves for re-election.

The School is committed to ensuring the Governors play an active role in the governance of the school and that the members of the board provide a wide and varied skill set to support and enhance the strategic development of the School. New Governors are recruited with consideration given to the mix of skills on the board and what new skills are required to enhance the skill set of the whole board. It is the School’s aim for Governors to have sufficient knowledge of charity, educational, site management, legal and financial matters.

Appointment of Governors is carried out either by direct approach to suitable candidates or by an approach being made from a member of the public, or a person already connected to the School. The Board maintains a thorough and detailed interview and selection process for potential governors which includes discussion about the role and expectations. A recommendation is then made to the full board about the suitability of the candidate and an offer to join the board is made if deemed suitable. All Governors are subject to a check by the Disclosure and Barring Service and an s128 Prohibition from Management check (the Chairman is DBS checked by the Secretary of State for Education).

Upon appointment, Governors receive a comprehensive induction pack which includes documents outlining their responsibilities as Directors, Governors and Trustees of the charity. Each Governor signs a declaration as to their willingness to serve the school, and undertake a DBS check and an s128 prohibition from management check. Governors are welcomed and encouraged to visit the school regularly and the Bursar provides legislative and regulation updates to the board. The School endeavours to maintain regular communications with all governors who can form links to various specific areas of interest within the school to build an in-depth understanding of how the school runs to report back to the Full Board.

The Board of Governors meet five times a year, Finance Committee and Education & Safeguarding meets four times a year. Other Sub-Committees consist of Personnel, Development and Strategic Uniform meets twice a year. The meeting schedule is timetabled at the beginning of each year and arranged such that the minutes and contents of sub-committee meetings are made available to each Board meeting. The Headteacher prepares a briefing report for review and discussion at each Board meeting, and the Bursar prepares briefing reports for the Finance Committee, Personnel Committee and Development Committee meetings. The Headteacher and Chairman attend both main committee meetings. Sub Committees report into the main two committees. All meetings are run to a pre circulated agenda, and minutes are published. All Governors are entitled to attend any committee meeting on an ex officio basis. Governors are appointed as link Governors with special responsibility for Child Protection and Safeguarding (Mrs Bell) and Health and Safety (Mr Fray).

SUNNYLANDS LIMITED
COUNCIL OF GOVERNORS REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 5 -

Internal Control

The School’s financial controls are reviewed in conjunction with the audit of the year end financial statements. The School’s Internal Control Framework supports the delivery of its strategy and compliance with its regulatory objectives.

 

The objectives are to:

 

 

The Board is responsible for determining and monitoring the adequacy of the system of internal control. It delegates authority to the Bursar Office and receives regular updates from them throughout the year. Any areas of concern are fully disclosed and brought to the attention of the Auditor. The Head of the Finance Committee (or their elected representative) meets once a month to perform a review into different aspects of financial risk and control conducted by the Bursar's office and track progress on improvement actions. The role of the Bursar’s Office is to assure the Board that the systems in place are robust taken on the overall adequacy and effectiveness of the Schools framework of governance, risk management and control.

Persons with Significant Control

The Board knows or has reasonable cause to believe that there is no registrable person or entity in relation to the School who has significant control.

 

Risk Management

The Governors are responsible for dealing with the risks faced by the School. The Board of Governors has considered the major risks to which the School is exposed, and is satisfied that systems have been established to lessen those risks. It is recognised that this system can only provide reasonable, but not absolute assurance, that the major risks have been adequately managed.

 

Governors use the following key controls in order to manage the risks faced and any matters of concern regarding them are reported and discussed at the Board meetings.

 

Auditor

In accordance with the company's articles, a resolution discussing appointment of auditors of the company will be discussed at a General Meeting. The auditor shall be invited to attend the Annual General Meeting, as statutorily required.

The Council of Governors report was approved by the Board of Governors.

S Dawson
Chair of Governors
4 March 2024
SUNNYLANDS LIMITED
STATEMENT OF COUNCIL OF GOVERNORS RESPONSIBILITIES  
FOR THE YEAR ENDED 31 AUGUST 2023
- 6 -

The governors, who are also the directors of Sunnylands Limited for the purpose of company law, are responsible for preparing the Council Of Governors Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the school and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the governors are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK 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 school will continue in operation.

 

The governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the school and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the school and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SUNNYLANDS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE GOVERNORS OF SUNNYLANDS LIMITED
- 7 -

Opinion

We have audited the financial statements of Sunnylands Limited (the ‘school’) for the year ended 31 August 2023 which comprise the statement of financial activities, 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 2023 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 school in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Council of 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 school’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.

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 Council of Governors report; 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.

SUNNYLANDS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE GOVERNORS OF SUNNYLANDS LIMITED
- 8 -
Responsibilities of governors

As explained more fully in the statement of Council of Governors responsibilities, the governors, who are also the directors of the school 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 school’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 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

 

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework.  Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.  This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

 

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

 

 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

SUNNYLANDS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE GOVERNORS OF SUNNYLANDS LIMITED
- 9 -

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Richard Monkhouse (Senior Statutory Auditor)
for and on behalf of Azets
5 March 2024
Chartered Accountants
Statutory Auditor
Thorpe House
93 Headlands
Kettering
Northamptonshire
United Kingdom
NN15 6BL
SUNNYLANDS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2023
- 10 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:
Donations and legacies
3
-
596
Charitable activities
4
1,037,860
991,677
Investments
5
3,520
221
Total income
1,041,380
992,494
Expenditure on:
Raising funds
6
2,370
13,673
Charitable activities
7
1,099,685
899,451
Total expenditure
1,102,055
913,124
Net (expenditure)/income for the year/
Net movement in funds
(60,675)
79,370
Fund balances at 1 September 2022
1,035,843
956,473
Fund balances at 31 August 2023
975,168
1,035,843

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
SUNNYLANDS LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2023
31 August 2023
- 11 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
12
931,027
888,876
Current assets
Stocks
13
25,247
20,085
Debtors
14
230,372
212,571
Cash at bank and in hand
289,041
415,845
544,660
648,501
Creditors: amounts falling due within one year
15
(371,069)
(372,084)
Net current assets
173,591
276,417
Total assets less current liabilities
1,104,618
1,165,293
Creditors: amounts falling due after more than one year
16
(129,450)
(129,450)
Net assets
975,168
1,035,843
Income funds
Unrestricted funds
Designated funds
19
40,000
125,000
General unrestricted funds
935,168
910,843
975,168
1,035,843
975,168
1,035,843
SUNNYLANDS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023
31 August 2023
- 12 -

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2023, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Governors on 4 March 2024
S Dawson
Trustee
Company registration number 00414674
SUNNYLANDS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2023
- 13 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
20
(75,383)
34,456
Investing activities
Purchase of tangible fixed assets
(54,941)
(18,422)
Investment income received
3,520
221
Net cash used in investing activities
(51,421)
(18,201)
Net cash used in financing activities
-
-
Net (decrease)/increase in cash and cash equivalents
(126,804)
16,255
Cash and cash equivalents at beginning of year
415,845
399,590
Cash and cash equivalents at end of year
289,041
415,845
SUNNYLANDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 14 -
1
Accounting policies
Charity information

Sunnylands Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 52 Headlands, Kettering, Northamptonshire, NN15 6DJ, United Kingdom.

1.1
Accounting convention

The financial statements have been prepared in accordance with the school'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 school is a Public Benefit Entity as defined by FRS 102.

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

The financial statements have been prepared under the historical cost convention. 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 school 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.

Designated funds comprise funds which have been set aside at the discretion of the governors for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

1.4
Income
Income is recognised when the school 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 school 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 school 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.

Income from grants is recognised when there is evidence of entitlement, receipt is probably and its amount can be measured reliably. Coronavirus Job Retention Scheme grants are normally recognised as income in the period in which the salary expense was incurred and all condition of the furlough scheme have been met.

Fee income is the total amount receivable by the company in the accounting period for services provided in teaching children, and for services ancillary to their education. School fees are stated after deducting bursaries and discounts.

SUNNYLANDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 15 -
1.5
Expenditure

Expenditure which is charged on an accruals basis and includes irrecoverable value added tax, is analysed between:

 

Support costs are tose functions that assist the work of the school but do not directly undertake charitable activities. Support costs include office costs, personnel and governance costs which support the School's activities. These costs have been allocated to expenditure on charitable activities. The basis on which support costs have been allocated are set out in note 7.

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.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Temporary classrooms, tennis courts and hard playing area
7 years straight line
Equipment, fixtures & fittings
1 - 7 years straight line
Motor vehicles
5 years straight line

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.

No depreciation is provided on freehold land and buildings as it is the charitable company's policy to maintain these assets in a continual state of sound repair and to extend and make improvements to them from time to time. The useful economic lives of these assets are thus so long and residual values so high that any depreciation would not be material. Provision is made for any permanent diminution in value. Any expenditure in respect of building and infrastructure maintenance and improvement is written off in the year of expenditure.

1.7
Impairment of fixed assets

At each reporting end date, the school 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).

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

SUNNYLANDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 16 -
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 school 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 school's balance sheet when the school 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.

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 payments 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 school’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 school is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

The School makes contributions for its academic and related staff to a defined contribution scheme designed for independent schools. The school also contributes to a defined contribution scheme for its non-teaching staff. Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

SUNNYLANDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 17 -
2
Critical accounting estimates and judgements

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

 

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

3
Donations and legacies
Total
Unrestricted
funds
2023
2022
£
£

Coronavirus Job Retention Scheme

-
596
4
Charitable activities

Operation of school

Operation of school

2023
2022
£
£

Tuition and related fees

789,041
686,506

Dinners

75,807
74,638

Grants

75,724
146,180

Music and uniforms

37,370
35,305

Late club

21,154
19,441

Clubs and outings

37,371
22,953

Other income

1,393
6,654
1,037,860
991,677
5
Investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
3,520
221
SUNNYLANDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 18 -
6
Raising funds
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Fundraising and publicity
Membership schemes and social lotteries
1,941
12,560
Staging fundraising events
429
1,113
Fundraising and publicity
2,370
13,673
2,370
13,673
7
Charitable activities

Operation of school

Operation of school

2023
2022
£
£
Teachers salaries
592,310
510,245

Text books

46,487
45,146

Food and kitchen costs

114,631
80,512

School materials

77,956
66,877
831,384
702,780
Share of support costs (see note 8)
261,401
190,311
Share of governance costs (see note 8)
6,900
6,360
1,099,685
899,451
SUNNYLANDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 19 -
8
Support costs
Support costs
Governance costs
2023
Support costs
Governance costs
2022
£
£
£
£
£
£
Staff costs
203,078
-
203,078
168,421
-
168,421
Depreciation
12,790
-
12,790
1,782
-
1,782

Other costs

45,533
-
45,533
20,108
-
20,108
Audit fees
-
5,250
5,250
-
4,750
4,750
Accountancy
-
1,650
1,650
-
1,610
1,610
261,401
6,900
268,301
190,311
6,360
196,671
Analysed between
Charitable activities
261,401
6,900
268,301
190,311
6,360
196,671

Governance costs includes payments to the auditors of £5,250 (2022- £4,750) for audit fees.

9
Governors

None of the governors (or any persons connected with them) received any remuneration or benefits from the school during the year. No expenses were reimbursed to the governors during the year or previous period.

10
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Teaching staff
11
10
Teaching support and nursery
8
10
Catering and domestic staff
6
8
Administration
5
4
Total
30
32
Employment costs
2023
2022
£
£
Wages and salaries
675,664
587,194
Social security costs
48,558
36,672
Other pension costs
71,166
54,800
795,388
678,666

The total number of full-time equivalent employees during the year was 23 (2022: 22).

SUNNYLANDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
10
Employees
(Continued)
- 20 -
The number of employees whose annual remuneration was more than £60,000 is as follows:
2023
2022
Number
Number
£60,000 - £70,000
1
-
11
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12
Tangible fixed assets
Freehold land and buildings
Temporary classrooms, tennis courts and hard playing area
Equipment, fixtures & fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2022
873,869
54,806
159,517
-
1,088,192
Additions
-
-
18,432
36,509
54,941
At 31 August 2023
873,869
54,806
177,949
36,509
1,143,133
Depreciation and impairment
At 1 September 2022
5,094
54,806
139,416
-
199,316
Depreciation charged in the year
-
-
7,922
4,868
12,790
At 31 August 2023
5,094
54,806
147,338
4,868
212,106
Carrying amount
At 31 August 2023
868,775
-
30,611
31,641
931,027
At 31 August 2022
868,775
-
20,101
-
888,876

All fixed assets are used for charitable purpose.

 

The governors consider the market value of the freehold land and buildings to exceed their book value but have not conducted a recent valuation.

13
Stocks
2023
2022
£
£
Raw materials and consumables
25,247
20,085
SUNNYLANDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 21 -
14
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
221,918
201,261
Prepayments and accrued income
8,454
11,310
230,372
212,571
15
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Other taxation and social security
-
10,045
Deferred income
18
317,845
321,986
Trade creditors
21,674
14,082
Other creditors
16,437
14,062
Accruals
15,113
11,909
371,069
372,084
16
Creditors: amounts falling due after more than one year
2023
2022
£
£
Borrowings
129,450
129,450

Sunnylands Trust is a registered charity, the charitable objects of which generally benefit the School and its pupils in the form of funding for the School and bursaries for pupils. J E Lamb, a governor (retired 13 December 2022), is also a trustee of Sunnylands Trust.

 

A loan of £129,450 is secured on the freehold property and is repayable in full in the event of the cessation of the charitable company's activities or the breach of certain covenants attached to the loan. Interest payable at bank base rate has been waived by the trustees of Sunnylands Trust.

17
Retirement benefit schemes
Defined contribution schemes

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

The charge to profit or loss in respect of defined contribution schemes was £71,166 (2022 - £54,800).

18
Deferred income
2023
2022
£
£
Other deferred income
317,845
321,986
SUNNYLANDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
18
Deferred income
(Continued)
- 22 -
2023
2022
£
£
Deferred income is included within:
Current liabilities
317,845
321,986
Movements in the year:
Deferred income at 1 September 2022
321,986
245,539
Released from previous periods
(321,986)
(245,539)
Resources deferred in the year
317,845
321,986
Deferred income at 31 August 2023
317,845
321,986

Deferred income represents school fees invoiced in advance.

19
Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
Balance at
1 September 2021

Transfers to unrestricted funds

Balance at
1 September 2022
Resources expended

Transfers to unrestricted funds

Balance at
31 August 2023
£
£
£
£
£
£
Nursery reserve
50,000
-
50,000
-
(10,000)
40,000
General reserve
25,000
-
25,000
-
(25,000)
-
Minibus reserve
-
50,000
50,000
(36,509)
(13,491)
-
75,000
50,000
125,000
(36,509)
(48,491)
40,000

The Council of Governors have set aside funds as follows:

 

SUNNYLANDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 23 -
20
Cash generated from operations
2023
2022
£
£
(Deficit)/surpus for the year
(60,675)
79,370
Adjustments for:
Investment income recognised in statement of financial activities
(3,520)
(221)
Depreciation and impairment of tangible fixed assets
12,790
1,782
Movements in working capital:
(Increase) in stocks
(5,162)
(2,733)
(Increase) in debtors
(17,801)
(34,928)
Increase/(decrease) in creditors
3,126
(85,261)
(Decrease)/increase in deferred income
(4,141)
76,447
Cash (absorbed by)/generated from operations
(75,383)
34,456
21
Analysis of changes in net funds
At 1 September 2022
Cash flows
At 31 August 2023
£
£
£
Cash at bank and in hand
415,845
(126,804)
289,041
Loans falling due after more than one year
(129,450)
-
(129,450)
286,395
(126,804)
159,591
22
Related party transactions
Remuneration of key management personnel

The school considers that its key management personnel comprise the governors and the headteacher. The total amount of employee benefits (including employer pension and national insurance contributions) received by key management personnel was:

2023
2022
£
£
Aggregate compensation
76,577
68,533
Transactions with related parties

During the year the school entered into the following transactions with related parties:

SUNNYLANDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
22
Related party transactions
(Continued)
- 24 -

Mr S Dawson, a Governor of the School, has an interest in R B Travel, a firm which provides services to the School. The value of services provided during the year was £6,400 (2022 - £8,160).

 

Mr M thomas, the Head Teacher of the School, has an interest in Hi Peachy Ltd, a firm which provides services to the School. The value of services provided during the year was £1,163 (2022 - £1,078).

 

During the year Mrs R Fray, the wife of Mr T Fray (a Governor), was paid total remuneration of £4,476 including employers national insurance and pension (2022 - £9,590) for the position of Assistant Bursar.

 

J laskey, a Governor of the School, has an interest in Howes Percival Solicitors, a firm which provides services to the School. The value of services provided during the year was £108 (2022 - £nil).

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