2020-08-31-accounts - St Gerard's School Trust

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		Page
Report o f the Trustees	1	to	9
Report o f the Independent Auditors	10	to	11
Statement o f Financial Activities		12
Balance Sheet		13
Cash Flow Statement		14
Notes to the Cash Flow Statement		15
Notes to the Financial Statements	16	to	30

		31.8.20	31.8.19
		Unrestricted	Total
		funds	funds
	Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies	3		10
Charitable activities	5
Incoming receipts from charitable activities		1,609,611	1,649,039
Investment income	4	1,285	1,692
Total		1,610,896	1,650,741
EXPENDITURE ON
Direct charitable expenditure	6	1,489,742	1,504,043
Other charitable activities	7
Depreciation		20,980	17,398
Governance & support		15,980	15,455
Total		1,526,702	1,536,896
NET INCOME		84,194	113,845
RECONCILIATION OF FUNDS
Total funds brought forward		962,342	848,497
TOTAL FUNDS CARRIED FORWARD		1,046,536	962,342

		31.8.20	31.8.19
		Unrestricted	Total
		funds	funds
	Notes
FIXED ASSETS
Intangible assets	14	*900*	1,800
Tangible assets	15	667,169	662,491
		668,069	664,291
CURRENT ASSETS
Stocks	16	2,520	2,533
Debtors	17	141,821	68,625
Cash at bank and in hand		481,794	466,595
		626,135	537,753
CREDITORS
Amounts falling due within one year	18	(188,311)	(154,177)
NET CURRENT ASSETS		437,824	383,576
TOTAL ASSETS LESS CURRENT
LIABILITIES		1,105,893	1,047,867
CREDITORS
Amounts falling due after more than one year	19		(21,950)
PENSION LIA_BILITY	23	(59,357)	(63,575)
NET ASSETS		1,046,536	962,342
FUNDS	22
Unrestricted funds		1,046,536	962,342
TOTAL FUNDS		1,046,536	962,342

Cash Flow Statement
for the Year Ended 31 August 2020
		31.8.20	31.8.19
	Notes
Cash flows from operating activities
Cash generated from operations	1	80,629	86,793
Interest paid		(1,044)	(3,643)
Net cash provided by operating activities		79,585	83,150
Cash flows from investing activities
Purchase o f tangible fixed assets		(24,759)	(33,029)
Interest received		932	1,692
Net cash used in investing activities		(23,827)	(31,337)
Cash flows from financing activities
Capital loan repayments in year		(41,744)	(19,350)
Net cash used in financing activities		(41,744)	(19,350)
Change in cash and cash equivalents in
the reporting period		14,014	32,463
Cash and cash equivalents at the
beginning of the reporting period	2	465,518	433,055
Cash and cash equivalents at the end of
the reporting period	2	479,532	465,518

1.	RECONCILIATION OF NET INCOME TO NET CASH ACTIVITIES	FLOW FROM O	PERATING
			31.8.20	31.8.19
	Netincome for the reporting period (as per the Statement of Financial
	Activities)		84,194	113,845
	Adjustments for:
	Depreciation charges		20,980	17,398
	Interest received		(932)	(1,692)
	Interest paid		1,044	3,643
	Decrease in stocks		13	1,723
	Increase in debtors		(73,196)	(15,994)
	Increase/(decrease) in creditors		52,743	(22,863)
	Difference between pension charge and cash contributions		(4,217)	(9,267)
	Net cash provided by operations		80,629	86,793
2.	ANALYSIS OF CASH AND CASH EQUIVALENTS
			31.8.20	31.8.19
	Cash in hand		2,930	4,674
	Notice deposits (less than 3 months)		478,864	461,921
	Overdrafts included in bank loans and overdrafts falling due within one year		(2,262)	(1,077)
	Total cash and cash equivalents		479,532	465,518
3.	ANALYSIS OF CHANGES IN NET FUNDS
		At 1.9.19	Cash flow	At 31.8.20
	Net cash
	Cash at bank and in hand	466,595	15,199	481,794
	Bankoverdraft	(1,077)	(1,185)	(2,262)
		465,518	14,014	479,532
	Debt
	Debts falling due within 1 year	(19,794)	19,794
	Debts falling due after 1 year	(21,950)	21,950
		(41,744)	41,744
	Total	423,774	55,758	479,532

3.	DONATIONS AND LEGACIES
		31.8.20	31.8.19
	Donations		10
4.	INVESTMENT INCOME
		31.8.20	31.8.19
	Bank interest received	1,285	1,692
5.	INCOME FROM CHARITABLE ACTIVITIES
		31.8.20	31.8.19
	Incoming receipts from charitable activities
	School fees	1,585,350	1,580,065
	Events & charitable activities	7,946	8,349
	Other income	6,142	9,151
	Entrance fees	1,450	1,825
	Examination fees	253	1,000
	Uniform sales	7,602	5,515
	Trips & excursions	868	43,134
		1,609,611	1,649,039
6.	DIRECT CHARITABLE EXPENDITURE
	Administration o f the school
		31.8.20	31.8.19
		£	£
	Hire o f minibus	6,056	6,038
	Diocese land rent	100	100
	Departmental expenses	20,167	15,617
	Examination fees	9,831	19,456
	Subscription & licences	13,349	14,378
	Telephone	2,553	2,565
	Postage and stationery	24,820	24,383
	Sundry meetings & refreshments	5,513	4,739
	Advertising	1,942	4,848
	Continued professional development and training	1,727	2,765
	Bad debts	2,600	20,000
	Trips & excursions	2,458	46,983
	Uniform purchases	10,651	7,817
	Minibus running costs	685	1,530
	Disclosure and barring service checks	199	190
	IT maintenance and contracts	30,000	30,000
	Interest payable and similar charges	165	62
	Events & charitable activities	10,791	9,673
		143,607	211,144

6.	DIRECT CHARITABLE EXPENDITURE −continued
	Teaching costs
		31.8.20	31.8.19
	Staff costs	1,236,709	1,167,018
	Interest payable and similar charges	1,246	(2,919)
		1,237,955	1,164,099
	Premises costs
		31.8.20	31.8.19
	Cleaning and waste removal	32,395	44,945
	Heat & light	32,001	18,939
	Insurance	8,843	10,486
	Rates & water	4,548	6,475
	Building maintenance & other repairs and renewals	30,057	46,777
	Interest payable and similar charges	336	1,178
		108,180	128,800
	Aggregate amounts	1,489,742	1,504,043
7.	CHARITABLE ACTIVITIES COSTS
			Direct
			Costs
	Depreciation		20,980
8.	SUPPORT COSTS
			Governance
			costs
	Other resources expended		15,980
9.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure) is stated after charging/(crediting):
		31.8.20	31.8.19
	Depreciation −owned assets	20,081	16,495
	Hire o f minibus	6,056	6,038
	Diocese land rent	100	100
	Website amortisation	900	900

AUDITORS' REMUNERATION
	31.8.20	31.8.19
Fees payable to the charity's auditorsfor the audit o f thecharity's financial
statements	3,804	3,625
Fees payable to the charity's auditors forotherservices:
Preparation o f accounts	3,804	3,625

	31.8.20	31.8.19
Wages and salaries	964,014	960,386
Social security costs	88,761	85,200
Other pension costs	183,934	121,432
	1,236,709	1,167,018

	31.8.20	31.8.19
Full time teachers	15	15
Part time teachers	9	10
Full time teaching assistants	2	1
Part time teaching assistants	1	1
Part time laboratory technician	1	1
Full time caretakers	1	2
Part time caretakers	1	3
Management & administration (full time)	3	3
Management & administration (part time)	3
	36	36

The num	ber o f employees whose employee benefits	(excluding employer pension costs) exceede	d £60,000 w
		31.8.20	31.8.19
£60,001	−£70,000		1

COMPARATIVES FOR i'llt, STATEMENT OF FINANCIAL AC (Breakdown o f the 2019 column from page 12)	TIVITIES — 2019 SoFA
	Unrestricted
	funds
INCOME AND ENDOWMENTS FROM
Donations and legacies	10
Charitable activities
Incoming receipts from charitable activities	1,649,039
Investment income	1,692
Total	1,650,741
EXPENDITURE ON
Direct charitable expenditure	1,504,043
Other charitable activities
Depreciation	17,398
Governance & support	15,455
Total	1,536,896
NET INCOME	113,845
RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported	858,501
Prior year adjustment	(10,004)
As restated	848,497
TOTAL FUNDS CARRIED FORWARD	962,342

INTANGIBLE FIXED ASSETS
	Website
COST
At 1 September 2019 and 31 August 2020	4,500
AMORTISATION
At 1 September 2019	2,700
Charge for year	900
At 31 August 2020	3,600
NET BOOK VALUE
At 31 August 2020	900
At 31 August 2019	1,800

TANGIBLE FIXED ASSETS
	Freehold	Property	Plant &
	property	improvements	machinery
COST
At 1 September 2019	303,244	403,674	37,392
Additions			21,720
At 31 August 2020	303,244	403,674	59,112
DEPRECIATION
At 1 September 2019	36,584	39,130	32,517
Charge for year	2,032	4,036	6,649
At 31 August 2020	38,616	43,166	39,166
NET BOOK VALUE
At 31 August 2020	264,628	360,508	19,946
At 31 August 2019	266,660	364,544	4,875

		Fixtures
		and	Furniture	Computer
		fittings	etc	equipment	Totals
	COST
	At 1 September 2019	571,546	14,968	35,338	1,366,162
	Additions	50	743	2,246	24,759
	At 31 August 2020	571,596	15,711	37,584	1,390,921
	DEPRECIATION
	At 1 September 2019	559,099	10,357	25,984	703,671
	Charge for year	3,125	1,339	2,900	20,081
	At 31 August 2020	562,224	11,696	28,884	723,752
	NET BOOK VALUE
	At 31 August 2020	9,372	4,015	8,700	667,169
	At 31 August 2019	12,447	4,611	9,354	662,491
16.	STOCKS
				31.8.20	31.8.19
	Stocks			2,520	2,533
17.	DEBTORS: AMOUNTS FALLING DUE	WITHIN ONE YEAR
				31.8.20	31.8.19
	School fees			125,166	57,404
	Prepayments			16,655	11,221
				141,821	68,625
18.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				31.8.20	31.8.19
	Bank loans and overdrafts (see note 20)			2,262	20,871
	Trade creditors			2,574	1,352
	Social security and other taxes			21,405	26,744
	Other creditors			19,510	14,203
	Locker deposits			1,300	1,075
	Advanced receipts			103,912	82,682
	Accrued expenses			14,858	7,250
	Deferred ski trip deposits			22,490
				188,311	154,177

19.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		31.8.20	31.8.19
	Bank loans (see note 20)		21,950
20.	LOANS
	An analysis o f the maturity o f loans is given below:
		31.8.20	31.8.19
	Amounts falling due within one year on demand:
	Bank overdraft	2,262	1,077
	Bank loans		19,794
		2,262	20,871
	Amounts falling due between two and five years:
	Bank loans −2−5 years		21,950

MOVEMENT IN FUNDS
		Net	Transfers
		movement	between	At
	At 1.9.19	in funds	funds	31.8.20
Unrestricted funds
General fund	1,025,917	84,194	(4,218)	1,105,893
Pension liability fund	(63,575)		4,218	(59,357)
	962,342	84,194		1,046,536
TOTAL FUNDS	962,342	84,194		1,046,536

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	1,610,896	(1,526,702)	84,194
TOTAL FUNDS	1,610,896	(1,526,702)	84,194

		Prior	Net	Transfers
		year	movement	between	At
	At 1.9.18	adjustment	in funds	funds	31.8.19
	£	£	i	£	£
Unrestricted funds
General fund	930,452	(10,004)	113,845	(8,376)	1,025,917
Bursary fund	890	−	−	(890)
Pension liability fund	(72,841)	−	−	9,266	(63,575)
	858,501	(10,004)	113,845		962,342
TOTAL FUNDS	858,501	(10,004)	113,845		962,342

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	1,650,741	(1,536,896)	113,845
TOTAL FUNDS	1,650,741	(1,536,896)	113,845

		Net	Transfers
		movement	between	At
	At 1.9.18	in funds	funds	31.8.20
	£	£	£	£
Unrestricted funds
General fund	930,452	198,039	(12,594)	1,115,897
Bursary fund	890	−	(890)
Pension liability fund	(72,841)	−	13,484	(59,357)
	858,501	198,039		1,056,540
TOTAL FUNDS	858,501	198,039		1,056,540

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	3,261,637	(3,063,598)	198,039
TOTAL FUNDS	3,261,637	,(3,063,598)	198,039

Period Ending 31 August 2020
Provision at start o f period	(£63,575
Unwinding o f the discount factor (interest expense)	(£	668
Deficit contribution paid	(£	5,464)
Re−measurements −impact o f any change in assumptions	(£	578
Re−measurements −amendments to the contribution schedule
Provision at end o f period	£59,357
Period Ending 31 August 2019
Provision at start o f period	£72,841
Unwinding o f the discount factor (interest expense)	£	1,366
Deficit contribution paid	(£	6,347)
Re−measurements −impact o f any change in assumptions	£	2,856
Re−measurements −amendments to the contribution schedule	( i	7,141)
Provision at end o f period	£63,575
Income and expenditure impact
Period Ending 31 August 2020
Unwinding of the discount factor (interest expense)	£	668
Re−measurements −impact o f any change in assumptions	£	578
Re−measurements −amendments to the contribution schedule
Contributions paid in respect of future service *
Cost recognised in income and expenditure account
Period Ending 31 August 2019
Unwinding of the discount factor (interest expense)	£	1,366
Re−measurements −impact o f any change in assumptions	£	2,856
Re−measurements −amendments to the contribution schedule	(£	7,141)
Contributions paid in respect o f future service *	£	−
Cost recognised in income and expenditure account