| Report ofthe Trustees | 1 | to | 9 |
|---|---|---|---|
| Report ofthe Independent Auditors |
10 | to | 13 |
| Statement ofFinancial Activities | 14 | ||
| Balance Sheet | 15 | ||
| Cash Flow Statement | 16 | ||
| Notes to the Cash Flow Statement | 17 | ||
| Notes to the Financial Statements | 18 | to | 32 |
| Trustees | ||||
|---|---|---|---|---|
| Mrs AJPethig | Retired | |||
| Dr P Thomas | Retired | |||
| Mr M RJones | Company | Director | (resigned 30.L22) | |
| Mr D Breslin | Finance Manager | |||
| Mrs W McBride | Guest House owner | |||
| Mrs M JBenson | Retired Teacher | |||
| Mr BPigott | Retired | |||
| Ms G M McDonagh | Nurseiy Proprietor | |||
| Mrs A Jones | Registered Nurse | |||
| Senior Statutory Auditor | ||||
| Mr Iorweith Williams | ||||
| Auditors | ||||
| Dunn k Ellis Cyf | ||||
| Statutory Auditors | ||||
| St David's Building | ||||
| Lombard Street | ||||
| Porthmadog | ||||
| Gwynedd | ||||
| LL49 9AP | ||||
| Bankers | ||||
| HSBCBank pic | Lloyds Bank pic | Barclays Banks pic | Santander UKpic | |
| 274 High Street | 268 High Street | 273 High Street | 236 High Street | |
| Bangor | Bangor | Bangor | Bangor | |
| Gwynedd | Gwynedd | Gwynedd | Gwynedd | |
| LL57 1RU | LL57 1RT | LL57 1RU | LL57 1PA |
| StGerard's School Trust | ||||
|---|---|---|---|---|
| Statement ofFinancial Activities | ||||
| Incor oratin an Income and Kx enditure |
Account | |||
| for the Year Ended 31Au ust 2021 | ||||
| 31.8.21 | 31.8.20 | |||
| Unrestricted | Total | |||
| funds | funds | |||
| Notes | ||||
| INCOME AND ENDOWMENTS | FROM | |||
| Charitable activities |
||||
| Incoming receipts from charitable | activities | 1,471,828 | 1,609,611 | |
| Investment income |
1,285 | |||
| Total | 1,471,859 | 1,610,896 | ||
| EXPENDITURE ON | ||||
| Direct charitable expenditure |
1,495,798 | 1,489,742 | ||
| Other charitable activities |
||||
| Depreciation | 20,832~& | 20,980 | ||
| Governance &support | 17,124 | 15,980 | ||
| Total | 1,533,754 | 1,526,702 | ||
| NKT INCOME/(EXPENDITURE) | (61)895) | 84,194 | ||
| RECONCILIATION OFFUNDS |
||||
| Total funds brought forward | 1,046,536 | 962,342 | ||
| TOTAL FUNDS CARRIED FORWARD | 984,641 | 1,046,536 |
| Balance Sheet 31Au ust 2021 |
|||
|---|---|---|---|
| 31.8.21 | 31,8.20 | ||
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | |||
| FIXEDASSETS | |||
| Intangible assets |
13 | 900 | |
| Tangible assets |
14 | 671,960 | 667,169 |
| 671,960 | 668,069 | ||
| CURRENT ASSETS | |||
| Stocks | 15 | 4,713 | 2,520 |
| Debtors | 16 | 146,596 | 141,821 |
| Cash at bank and in hand | 414,466 | 481,794 | |
| 565,775 | 626,135 | ||
| CREDITORS | |||
| Amounts falling due within one year |
17 | (199,307) | (188,311) |
| NET CURRENT ASSETS | 366,468 | 437,824 | |
| TOTAL ASSETSLESSCURRENT | |||
| LIABILITIES | 1,038,428 | 1,105,893 | |
| PENSION LIABILITY | 22 | (53,787) | (59,357) |
| NKT ASSETS | 984,641 | 1,046,536 | |
| FUNDS | 21 | ||
| Unrestricted funds |
984,641 | 1,046,536 | |
| TOTAL FUNDS | 984,641 | 1,046,536 |
| StGerard's School Trust | ||||||
|---|---|---|---|---|---|---|
| Cash Flow Statement | ||||||
| for the Year Ended 31 Au | ust 2021 | |||||
| 31.8.21 | 31.8.20 | |||||
| Notes | ||||||
| Cash flows from operating activities Cash generated fL'om operations Interest paid |
(41,799) ~30 |
80,629 ~I,044 |
||||
| Net cash (used in)/provided | by operating | activities | (41,829) | 79,585 | ||
| Cash flows from investing Purchase oftangible fixed Interest received |
activities assets |
(24,725) 31 |
(24,759) 932 |
|||
| Net cash used in investing | activities | (24,694 | ~23,827) | |||
| Cash flows from financing Capital loan repayments in |
activities year |
~41,744 | ||||
| Net cash provided by/(used |
in) financing | activities | (41,744) | |||
| Change in cash and cash the reporting period |
equivalents | in | (66,523) | 14,014 | ||
| Cash and cash equivalents beginning ofthe reporting |
at the period |
479,532 | 465,518 | |||
| Cash and cash equivalents the reporting period |
at the end | of | 413,009 | 479,532 |
| OPERATING AC | TIVITI | ES | |||||
|---|---|---|---|---|---|---|---|
| 31.8.21 | 31.8.20 | ||||||
| Net (expenditure)/income | for the reporting | period (as per the | |||||
| Statement ofFinancial Activities) | (61,895) | 84,194 | |||||
| Adjustments for: |
|||||||
| Depreciation charges |
20,832 | 20,980 | |||||
| Interest received | (31) | (932) | |||||
| Interest paid | 30 | 1,044 | |||||
| (Increase)/decrease | in stocks | (2,193) | 13 | ||||
| Increase in debtors | (4,775) | (73,196) | |||||
| Increase in creditors | 11,802 | 52,743 | |||||
| Difference between | pension | charge and cash | contributions | (5,569) | (4,217) | ||
| Net cash (used in)/provided | by operations | (41,799) | 80,629 | ||||
| ANALYSIS OF CASH AND CASH EQUIVALENTS | |||||||
| 31.8.21 | 31,8.20 | ||||||
| Cash in hand | 573 | 2,930 | |||||
| Notice deposits (less than 3 Overdrafts included in bank |
months) loans and overdrafts |
falling due within | one year | 413,893 ~1,457) |
478,864 ~2,262) |
||
| Total cash and cash | equivalents | 413,009 | 479,532 | ||||
| ANALYSIS OF CHANGES IN NKT FUNDS | |||||||
| At 1,9.20 | Cash flow | At 31.8.21 | |||||
| Net cash | |||||||
| Cash at bank and in | hand | 481,794 | (67,328) | 414,466 | |||
| Bank overdraft | ~(2,262 | 805 | (1,457) | ||||
| 479,532 | (66,523) | 413,009 | |||||
| Total | 479,532 | ~(66,525 | 413,009 |
| 3. | INVESTMENT INCOME | INVESTMENT INCOME | INVESTMENT INCOME | |||
|---|---|---|---|---|---|---|
| 31.8.21 | 31.8.20 | |||||
| Bank interest received | 31 | 1,285 | ||||
| 4. | INCOME FROM | CHARITABLE ACTIVITIES | ||||
| 31.8.21 | 31.8.20 | |||||
| School fees | 1,451,614 | 1,585,350 | ||||
| Events &charitable | activities | 3,104 | 7,946 | |||
| Other income | 5,572 | 6, 142 | ||||
| Entrance fees | 1)100 | 1,450 | ||||
| Examination fees |
253 | |||||
| Uniform sales |
9,210 | 7,602 | ||||
| Trips &excursions | 1,228 | 868 | ||||
| 1,471,828 | 1,609,611 | |||||
| 5. | DIRECT CHARITABLE EXPENDITURE | |||||
| Administration of |
the | school | ||||
| 31.8.21 | 31.8.20 | |||||
| Hire ofminibus | 6,212 | 6,056 | ||||
| Diocese land rent | 100 | 100 | ||||
| Departmental expenses |
10)600 | 20,167 | ||||
| Examination fees |
7,039 | 9,831 | ||||
| Subscription &licences |
139400 | 13,349 | ||||
| Telephone | 3,061 | 2,553 | ||||
| Postage and stationery | 25,989 | 24,820 | ||||
| Sundry meetings &, |
ref'reshments | 5,627 | 5,513 | |||
| Advertising | 3,987 | 1,798 | ||||
| Continued professional |
development | and training | 1,709 | 1,727 | ||
| Bad debts | (7,339) | 2,600 | ||||
| Trips &excursions | 2,824 | 2,458 | ||||
| Uniform purchases |
10,359 | 10,651 | ||||
| Minibus running costs |
1,074 | 685 | ||||
| Disclosure and bering | service checks | 383 | 199 | |||
| ITmaintenance and |
contracts | 48,000 | 30,000 | |||
| Interest payable and |
similar charges | 30 | 165 | |||
| Events &charitable | activities | 4,896 | 10,791 | |||
| 137,951 | 143,463 |
| 5. | DIRECT CHA | RITAB | LE EXPENDITURE - continued | ||
|---|---|---|---|---|---|
| Staffing costs | |||||
| 31.8.21 | 31,8.20 | ||||
| Staffcosts | 1,203,830 | 1,236,709 | |||
| Recruitment costs |
4,375 | 144 | |||
| Interest payable | and similar charges | 58 | 1,246 | ||
| 1,208,263 | 1,238,099 | ||||
| Premises costs | |||||
| 31.8.21 | 31.8.20 | ||||
| Cleaning and waste removal |
65,267 | 32,395 | |||
| Heat &light | 25,915 | 32,001 | |||
| Insurance | 9,431 | 8,843 | |||
| Rates &water | 5,873 | 4,548 | |||
| Building maintenance | &other repairs and renewals | 43,098 | 30,057 | ||
| Interest payable | and similar charges | 336 | |||
| 149,584 | 108,180 | ||||
| Aggregate amounts |
1,495,798 | 1,489,742 | |||
| 6. | CHARITABLE | ACTIVITIES COSTS | |||
| Direct | |||||
| Costs | |||||
| Depreciation | 20,832 | ||||
| 7. | SUPPORT COSTS | ||||
| Governance | |||||
| costs | |||||
| Other resources | expended | 17,124 | |||
| 8. | NET INCOME/(EXPENDITURE) | ||||
| Net income/(expenditure) | is stated after charging/(crediting): |
| Net income/(expenditure) is stated after charging/(creditin |
g): | |
|---|---|---|
| 31.8.21 | 31.8.20 | |
| Depreciation - owned assets | 19,934 | 20,081 |
| Hire ofminibus | 6,212 | 6,056 |
| Diocese land rent | 100 | 100 |
| Website amortisation | 900 | 900 |
| 31.8.21 | 31.8.20 | |||
|---|---|---|---|---|
| Fees payable to the charity's | auditors for the audit ofthe chatty's | financial | ||
| statements | 4,089 | 3,804 | ||
| Fees payable to the charity's | auditors for other seivices: | |||
| Preparation ofaccounts | 4,089 | 3,804 |
| There were no trustees' expenses paid 31August 2020. |
for the year ended 31Au |
gust2021 nor for t |
he year end |
|---|---|---|---|
| STAFF COSTS AND REMUNERATION | OFKEYMANAGEMENT | PERSONNEL | |
| 31.8.21 | 31.8.20 | ||
| Wages and salaries | 943,342 | 964,014 | |
| Social security costs | 83,220 | 88,761 | |
| Other pension costs | 177,268 | 183,934 | |
| 1,203,830 | 1,236,709 |
| The avera | ge monthl | y number |
ofemployees during the year was |
as follows', | |
|---|---|---|---|---|---|
| 31.8.21 | 31.8.20 | ||||
| Full time | teachers | 14 | 15 | ||
| Part'time | teachers | 9 | 9 | ||
| Full time | teaching | assistants | 2 | 2 | |
| Patt time | teaching | assistants | 1 | 1 | |
| Pait time | laboratoiy | technician | 1 | 1 | |
| Full time | caretakers | 1 | 1 | ||
| Patt time | caretakers | 1 | 1 | ||
| Management k administration | (full time) | 3 | 3 | ||
| Management 8r. administration |
(part time) | 3 | 3 | ||
| 35 | 36 |
| 12. | COMPARATIVES F | OR THK S | TATEMENT OF FINANCIAL AC | TIVITIES |
|---|---|---|---|---|
| Unrestricted | ||||
| funds | ||||
| INCOME AND ENDOWMENTS | FROM | |||
| Charitable activities |
||||
| Incoming receipts from charitable | activities | 1,609,611 | ||
| Investment income |
1,285 | |||
| Total | 1,610,896 | |||
| EXPENDITURE ON | ||||
| Direct charitable expenditure |
1,489,742 | |||
| Other charitable activities |
||||
| Depreciation | 20,980 | |||
| Governance 8r. support |
15,980 | |||
| Total | 1,526,702 | |||
| NKT INCOME | 84,194 | |||
| RECONCILIATION | OF FUNDS | |||
| Total funds brought forward | 962,342 | |||
| TOTAL FUNDS CARRIED FORWARD | 1,046,536 | |||
| 13. | INTANGIBLE FIXEDASSETS | |||
| Website | ||||
| COST | ||||
| At 1 September 2020 and 31August 2021 | 4500 | |||
| AMORTISA.TION | ||||
| At 1 September 2020 Charge for year |
3,600 900 |
|||
| At 31 August 2021 | 4,500 | |||
| NET BOOK VALUE | ||||
| At 31August 2021 | ||||
| At 31August 2020 | 900 |
| TANGIBLE FIXEDASSETS | ||||
|---|---|---|---|---|
| Freehold | Property | Plant & | ||
| property | improvements | machinery | ||
| COST | ||||
| At 1 September 2020 | 303,244 | 403,674 | 59,112 | |
| Additions | 11,775 | |||
| At 31 August 2021 | 303,244 | 415,449 | 59,112 | |
| DEPRECIATION | ||||
| At 1 September 2020 | 38,616 | 43,166 | 39,166 | |
| Charge for year | 2,033 | 4,155 | 4,987 | |
| At 31August 2021 | 40,649 | 47,321 | 44,153 | |
| NET BOOK VALUE | ||||
| At 31August 2021 | 262,595 | 368,128 | 14,959 | |
| At 31August 2020 | 264,628 | 360,508 | 19,946 | |
| Fixtures | ||||
| and | Furniture | Computer | ||
| fittings | etc. | equipment | Totals | |
| COST | ||||
| At 1 September 2020 | 571,596 | 15,711 | 37,584 | 1,390,921 |
| Additions | 2,000 | 1,680 | 9,270 | 24,725 |
| At 31August 2021 | 573,596 | 17,391 | 46,854 | 1,415,646 |
| DEPRECIATION | ||||
| At l September 2020 | 562)224 | 11&696 | 28,884 | 723,752 |
| Charge for year | 2,843 | 1,423 | 4,493 | 19,934 |
| At 31 August 2021 | 565)067 | 13,119 | 33377 | 743,686 |
| NET BOOK VALUE | ||||
| At 31August 2021 | 8,529 | 4,272 | 13,477 | 671,960 |
| At 31August 2020 | 9,372 | 4,015 | 8,700 | 667,169 |
| 15. | STOCKS | |||
|---|---|---|---|---|
| 31.8.21 | 31.8.20 | |||
| Stocks | 4,713 | 2,520 | ||
| 16. | DEBTORS:AMOUNTS | FAL'LING DUK WITHIN ONE YEAR | ||
| 31.8.21 | 31.8.20 | |||
| School fees | 88,897 | 125,166 | ||
| Prep ayments | 57,699 | 16,655 | ||
| 146,596 | 141,821 | |||
| 17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.8.21 | 31.8.20 | |||
| Bank loans and overdrafts | (see note 18) | 1,457 | 2,262 | |
| Trade creditors | 12,598 | 2,574 | ||
| Social security and other taxes | 19,521 | 21,405 | ||
| Other creditors | 20,799 | 19,510 | ||
| Locker deposits | 1,290 | 1,300 | ||
| Advanced receipts |
100,064 | 103,912 | ||
| Accrued expenses | 8,178 | 14,858 | ||
| Deferred ski trip deposits | 35,400 | 22,490 | ||
| 199,307 | 188,311 | |||
| 18. | LOANS | |||
| An analysis ofthe maturity | of loans is given below: | |||
| 31.8.21 | 31,8.20 | |||
| Amounts falling due within one year on demand: |
||||
| Bank overdrafts | 1,457 | 2,262 |
| Minimum lease payments under non-cancellable operati |
ng leases fall due as follows: |
|
|---|---|---|
| 31.8.21 | 31.8.20 | |
| Within one year Between one and five years |
48,000 | 48,000 ) 48 000 |
| 48,000 | 96,000 |
| MOVEMKNT | IN FUNDS | |||||
|---|---|---|---|---|---|---|
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.9.20 | in funds | funds | 31.8.21 | |||
| Unrestricted | funds | |||||
| General fund Pension liability |
fund | 1,105,893 ~59,357) |
(61,895) | (5,570) 5,570 |
1,038,428 ~53,787) |
|
| 1,946,536 | ~(61,895 | 984,641 | ||||
| TOTAL FUNDS | 1,046,536 | (61,895) | 984,641 | |||
| Net movement | in funds, included | in the above are as follows: | ||||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| Unrestricted | funds | |||||
| General fund | 1&471&859 | (1&533&754) | (61,895) | |||
| TOTAL FUNDS | 1,471,859 | ~1,533,754 | ~61,895 |
| 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 |
| Comparative | net movement in funds, includ |
ed in the above are as follows: |
||
|---|---|---|---|---|
| Illcoilllllg | Resources | Movement | ||
| resources | expended | lil funds | ||
| Unrestricted | funds | |||
| General fund | 1,610,896 | (1,526,702) | 84,194 | |
| TOTAL FUNDS | 1 610,896 | ~1,526,702) | 84,194 |
| Net | Transfers | ||||
|---|---|---|---|---|---|
| movement | between | At | |||
| At 1,9,19 | in funds | funds | 31.8.21 | ||
| Unrestricted | funds | ||||
| General fund Pension liability fund |
1,025,917 ~63,575) |
22,299 | (9,788) 9,788 |
1,038,428 ~(53,787 |
|
| 962,342 | 22,299 | 984,641 | |||
| TOTAL FUNDS | 962,342 | 22,299 | 984,641 |
| as follows: | ||||
|---|---|---|---|---|
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| E | ||||
| Unrestricted | funds | |||
| General fund | 3,082,755 | (3,060,456) | 22,299 | |
| TOTAL FUNDS | 3,082,755 | ~3,060,456) | 22,299 |
| EMPLOYEE BENEFITOBLIGATIONS - continued | EMPLOYEE BENEFITOBLIGATIONS - continued | ||
|---|---|---|---|
| Re-measurements - impact ofany change in assumptions |
578 | ||
| Re-measurements - amendments to the contribution |
schedule | ||
| Provision at end ofperiod |
859 357 | ||
| Period Endin 31Au st 2021 |
|||
| Provision at start ofperiod |
f59,357 | ||
| Unwinding ofthe discount factor (interest expense) |
506 | ||
| Deficit contribution paid |
(f. 5,628) | ||
| Re-measurements - impact ofany change in assumptions |
(K | 448) | |
| Re-measurements - amendments to the contribution |
schedule | ||
| Provision at end ofperiod |
853 787 | ||
| Income and ex enditure im act |
|||
| Period Endin 31Au ust 2020 |
|||
| Unwinding ofthe discount factor (interest expense) |
668 | ||
| Re-measurements - impact ofany change in assumptions |
578 | ||
| Re-measurements - amendments to the contribution |
schedule | ||
| Contributions paid in respect offuture service * |
|||
| Cost recognised in income and expenditure account |
|||
| Period Endin 31Au st 2021 |
|||
| Unwinding ofthe discount factor (interest expense) |
506 | ||
| Re-measurements - impact ofany change in assumptions |
(K | 448) | |
| Re-measureinents - amendments to the contribution |
schedule | ||
| Contributions paid in respect offuture service * |
|||
| Cost recognised in income and expenditure account |