|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|||| ## ## ## ## ## ## ##