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|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|10|
|Report ofthe Independent
Auditors|11|to|14|
|Statement ofFinancial Activities||15||
|Balance Sheet||16||
|Cash Flow Statement||17||
|Notes to the Cash Flow Statement||18||
|Notes to the Financial Statements|19|to|31|
|Detailed Statement ofFinancial Activities|32|to|33|
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|StGerard's
School Trust|||||
|---|---|---|---|---|
|Statement ofFinancial Activities|||||
|ncor
oratin
an Income and Kx enditure||Account|||
|for the Year Ended 31Au ust 2022|||||
||||31.8.22|31.8.21|
||||Unrestricted|Total|
||||funds|funds|
|||Notes|||
|INCOME AND ENDOWMENTS|FROM||||
|Charitable
activities|||||
|Incoming receipts from charitable|activities||1,398,402|1,471,828|
|Investment
income||||31|
|Total|||1,398,513|1 471,859|
|EXPENDITURE ON|||||
|Direct charitable
expenditure|||1,572,785|1,495,798|
|Other charitable
activities|||||
|Depreciation|||22,705|20,832|
|Governance &support|||18772|17,124|
|Total|||1,614 262|1,533,754|
|NET INCOME/(EXPENDITURE)|||(215,749)|(61,895)|
|RECONCILIATION
OF FUNDS|||||
|Total funds brought
forward|||984,641|1,046,536|
|TOTAL FUNDS CARRIED FORWARD|||768 892|984,641|
##
||||31.8.22|31.8.21|
|---|---|---|---|---|
||||Unrestricted|Total|
||||funds|funds|
|||Notes|||
|FIXED|ASSETS||||
|Tangible|assets|12|679,616|671,960|
|CURRENT ASSETS|||||
|Stocks||13|3,617|4,713|
|Debtors||14|52,232|146,596|
|Cash at|bank and in hand||278312|414466|
||||334,161|565,775|
|CREDITORS|||||
|Amounts|falling due within one year|15|(200,629)|(199,307)|
|NET CURRENT ASSETS|||133332|366468|
|TOTAL|ASSETSLESSCURRENT||||
|LIABILITIES|||813,148|1,038,428|
|PE&NSION LIABILITY||20|(44,256)|(53,787)|
|NET ASSETS|||768892|984,641|
|FUNDS||19|||
|Unrestricted
funds|||768,892|984,641|
|TOTAL|FUNDS||768 892|984641|
##
|StGerard's
School Trust|||||||
|---|---|---|---|---|---|---|
|Cash Flow Statement|||||||
|for the Year Ended 31Au||ust 2022|||||
||||||31.8.22|31.8.21|
|||||Notes|||
|Cash flows from operating||activities|||||
|Cash generated
from operations
Interest paid|||||(105,218)
~404|(41,799)
~30|
|Net cash used in operating||activities|||~105622)|~41,829)|
|Cash flows from investing||activities|||||
|Purchase oftangible fixed|assets||||(30,360)|(24,725)|
|Interest received||||||31|
|Net cash used in investing|activities||||~30360)|~24,694)|
|Change in cash and cash|equivalents||in||||
|the reporting
period|||||(135,982)|(66,523)|
|Cash and cash equivalents||at the|||||
|beginning
ofthe reporting||period|||413,009|479,532|
|Cash and cash equivalents||at the end|of||||
|the reporting
period|||||277 027|413009|
##
##
##
|ACTIVITIES|||||||
|---|---|---|---|---|---|---|
||||||31.8.22|31.8.21|
|Net expenditure
for the reporting||period (as|per the Statement|of|||
|Financial Activities)|||||(215,749)|(61,895)|
|Adjustments
for:|||||||
|Depreciation
charges|||||22,705|20,832|
|Interest received||||||(31)|
|Interest paid|||||404|30|
|Bad debt provision|||||60,000||
|Decrease/(increase)|in stocks||||1,096|(2,193)|
|Decrease/(increase)|in debtors||||34,364|(4,775)|
|Increase in creditors
Difference between|pension charge|and cash contributions|||1,493
~9,531)|11,802
~5,569)|
|Net cash used in operations|||||105218|~41 799)|
|ANALYSIS OF CASH AND CASH EQUIVALENTS|||||||
||||||31.8.22|31.8.21|
|Cash in hand|||||827|573|
|Notice deposits (less|than 3 months)||||277,485|413,893|
|Overdrafts
included|in bank loans and overdrafts||falling due within|one year|~2,285)|~1457)|
|Total cash and cash|equivalents||||277 027|413,009|
##
##
||At 1.9.21|Cash flow|At 31.8.22|
|---|---|---|---|
|Net cash||||
|Cash at bank and in hand
Bank overdraft|414,466
~7,457|(136,154)
172|278,312
~2,285)|
||413 009|~235,982|277 027|
|Total|413,009|(~135,982|277 027|
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|||||31.8.22|31.8.21|
|---|---|---|---|---|---|
|Bank interest received||||111|31|
|INCOME FROM|CHARITABLE ACTIVITIES|||||
|||||31.8.22|31.8.21|
|||Activity||f.||
|School fees||Incoming receipts from charitable|activities|1,369,121|1,451,614|
|Events &charitable|activities|Incoming receipts from charitable|activities|12,087|3,104|
|Other income||Incoming receipts from charitable|activities|178|5,572|
|Entrance fees||Incoming receipts from charitable|activities|750|1,100|
|UnifohTn
sales||Incoming receipts from charitable|activities|7,111|9,210|
|Trips &excursions||Incoming receipts from charitable|activities|9,155|1,228|
|||||1398402|1 471 828|
|||2022|2021|
|---|---|---|---|
|Gross fees||K1,510,164|f.1,603,458|
|Less:||||
|Bursaries||f26,297|E,31,173|
|Discounts &other deductions||f114,747|f.115,742|
|Fee income invoiced|in the year|f19369,121|1,451,614|
##
##
|Administration
ofthe|school||||
|---|---|---|---|---|
||||31.8.22|31.8.21|
|Hire ofminibus|||1,009|6,212|
|Diocese land rent|||100|100|
|Departmental
expenses|||19,799|10,600|
|Examination
fees|||10,345|7,039|
|Subscription
&licences|||16,382|13,400|
|Telephone|||2,534|3,061|
|Postage and stationery|||25,963|25,989|
|Sundry meetings &refreshments|||1,966|5,627|
|Advertising|||5,180|3,987|
|Continued
professional|development|and training|1,775|1,709|
|Debt write-off and provision|||66,455|(7,339)|
|Trips &excursions|||13,959|2,824|
|Uniform
purchases|||10,385|10,359|
|Minibus
running
costs|||2,922|1,074|
|Disclosure and barring|service checks||596|383|
|ITmaintenance
and contracts|||48,000|48,000|
|Interest payable
and similar charges|||404|30|
|Events &charitable
activities|||16,066|4 896|
||||243 840|137,951|
##
##
##
|5.|DIRECT CHA|RIT|ABLE EXPENDITURE - continued|||
|---|---|---|---|---|---|
||Staffing costs|||||
|||||31.8.22|31.8.21|
||Staffcosts|||1,200,888|1,203,830|
||Recruitment
costs
Interest payable
and||similar charges|2,881
~3,7347|4,375
58|
|||||1 200 035|1 208 263|
||Premises costs|||||
|||||31.8.22|31.8.21|
||Cleaning
and waste removal|||43,705|65,267|
||Heat &light|||26,921|25,915|
||Insurance|||12,072|9,431|
||Rates &water|||10,688|5,873|
||Building maintenance||&other repairs and renewals|35 524|43,098|
|||||128910|149,584|
||Aggregate
amounts|||1,572,785|1,495 798|
|6.|CHARITABLE|ACTIVITIES COSTS||||
||||||Direct|
||||||Costs|
||Depreciation||||~22 705|
|7.|SUPPORT COSTS|||||
||||||Governance|
||||||costs|
||Other resources|expended|||~18 772|
##
|Net income/(expenditure)
is stated after charging/(creditin|g):||
|---|---|---|
||31.8.22|31.8.21|
||f.||
|Auditors'
remuneration|4,395|4,089|
|Preparation
ofaccounts|4,395|4,089|
|Depreciation
-owned assets|22,704|19,934|
|Hire ofminibus|1,009|6,212|
|Diocese land rent|100|100|
|Website amortisation||900|
##
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##
||||||||||
|---|---|---|---|---|---|---|---|---|
|STAFF COSTS AND REMUNERATION||||OFKEYMANAGEMENT||PERSONNEL|||
|||||||31.8.22||31.8.21|
|Wages and salaries||||||936,641||943,342|
|Social security costs||||||89,261||83,220|
|Other pension costs||||||174|986|177,268|
|||||||1 200|880|1,203,830|
|The average monthly||number|ofemployees|during|the year was as follows:||||
|||||||31.8.22||31.8.21|
|Full time teachers|||||||14|14|
|Part time teachers|||||||9|9|
|Full time teaching|assistants||||||2|2|
|Part time teaching|assistants|||||||1|
|Part time laboratory||technician|||||1|1|
|Full time caretakers|||||||1|1|
|Part time caretakers|||||||1|1|
|Management
&administration|||(full time)||||3|3|
|Management
&administration|||(part time)||||3|3|
|||||||34||35|
|The num|ber ofemployees
whose employee benefits|(excluding
employer pension costs) exceeded|f60,000w|
|---|---|---|---|
|||31.8.22|31.8.21|
|K60,001|- E70,000|1|I|
##
##
##
|TANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|
||Freehold|Property|Plant &|Motor|
||property|improvements|machinery|vehicle|
|COST|||||
|At 1 September 2021|303,244|415,449|59,112||
|Additions||||27,600|
|At 31 August 2022|303 244|415 449|59112|27600|
|DEPRECIATION|||||
|At 1 September 2021|40,649|47,321|44,153||
|Charge for year|2 032|4 154|3,739|5,520|
|At 31 August 2022|42,681|51 475|47,892|5 520|
|NET BOOK VALUE|||||
|At 31 August 2022|260 563|363 974|11220|22 000|
|At 31 August 2021|262 595|368 128|14,959||
||Fixtures||||
||and|Furniture|Computer||
||fittings|etc|equipment|Totals|
|COST|||||
|At 1 September 2021|573,596|17,391|46,854|1,415,646|
|Additions|||2 760|30,360|
|At 31 August 2022|573 596|17391|49 614|1,446 006|
|DEPRECIATION|||||
|At 1 September 2021|565,067|13,119|339377|743,686|
|Charge for year|2,132|1 068|4,059|22,704|
|At 31 August 2022|567199|14,187|37436|766 390|
|NET BOOKVALUE|||||
|At 31August 2022|6397|3 204|12 178|679616|
|At 31 August 2021|8,529|4,272|13,477|671,960|
##
##
|13.|STOCKS||||||
|---|---|---|---|---|---|---|
||||||31.8.22|31.8.21|
||Stocks||||3,617|4 713|
|14.|DEBTORS:AMOUNTS|FALLING DUE WITHIN ONE YEAR|||||
||||||31.8.22|31.8.21|
||School fees||||27,907|88,897|
||Prepayments||||24 325|37699|
||||||52 232|746 396|
|15.|CREDITORS: AMOUNTS FALLING DUE||WITHIN|ONE YEAR|||
||||||31.8.22|31.8.21|
||Bank loans and overdraAs|(see note 16)|||1,285|1,457|
||Trade creditors||||7,578|12,598|
||Social security and other taxes||||42,161|19,521|
||Other creditors||||18,038|20,799|
||Locker deposits||||1,295|1,290|
||Advanced
receipts||||91,982|100,064|
||Accrued expenses||||8,790|8,178|
||Deferred ski trip deposits||||29,500|35,400|
||||||200,629|799,307|
|16.|LOANS||||||
||An analysis ofthe maturity|ofloans is given below:|||||
||||||31.8.22|31.8.21|
||Amounts
falling due within|one year on demand:|||||
||Bank overdrafts||||1,285|1457|
|17.|LEASING AGREEMENTS||||||
||Minimum
lease payments
under non-cancellable||operating|leases fall due as follows:|||
||||||31.8.22|31.8.21|
||Within one year||||36,000|48,000|
||Between one and five years||||108,000||
||||||144 000|48 000|
##
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##
|MOVEMENT|IN FUNDS|||||
|---|---|---|---|---|---|
||||Net|Transfers||
||||movement|between|At|
|||At 1.9.21|in funds|funds|31.8.22|
|Unrestricted|funds|||||
|General fund||1,038,428|(215,749)|(9,531)|813,148|
|Pension liability fund||~53,787)||9,531|~44,256|
|||984,641|~2)5,749||768,892|
|TOTAL FUNDS||984 641|~215 749)||768 892|
|Net movement|in funds, included|in the above are as follows:||||
||||Incoming|Resources|Movement|
||||resources|expended|in funds|
|Unrestricted|funds|||||
|General fund|||1,398,513|(1,614,262)|(215,749)|
|TOTAL FUNDS|||1,398,513|i1,614,262)|~215,749)|
##
||||||Net|Transfers||
|---|---|---|---|---|---|---|---|
||||||movement|between|At|
|||||At 1.9.20|in funds|funds|31.8.21|
|Unrestricted||funds||||||
|General
Pension|fund
liability||fund|1,105,893
~59357)|(61,895)|(5,570)
5 570|1,038,428
~53 787)|
|||||1,046,536|61,895||984,641|
|TOTAL|FUNDS|||1,046,536|~61,895)||984,641|
##
##
##
|Comparative|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|||1471,859|il 533 754)|~61,895)|
##
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|Period Endin
31Au ust 2022|||
|---|---|---|
|Provision
at start ofperiod||f.53,787|
|Unwinding
ofthe discount factor (interest expense)||555|
|Deficit contribution
paid||(K 5,797)|
|Remeasurements
- impact ofany change in assumptions||(f 7,347)|
|Remeasurements
- amendments
to the contribution|schedule|K 3,058|
|Provision
at end ofperiod||f44,256|
|Period Endin
31Au
st 2021|||
|Provision
at start ofperiod||f59,357|
|Unwinding
ofthe discount factor (interest expense)||506|
|Deficit contribution
paid||(K 5,628)|
|Remeasurements
- impact ofany change in assumptions||(K
448)|
|Remeasurements
- amendments
to the contribution|schedule||
|Provision
at end ofperiod||f53,787|
|Income and ex enditure
im act|||
|Period Endin
31Au
st 2022|||
|Unwinding
ofthe discount factor (interest expense)||555|
|Remeasurements
- impact ofany change in assumptions||(X 7,347)|
|Remeasurements
- amendments
to the contribution
Contributions
paid in respect offuture service *|schedule|K 3,058|
|Cost recognised
in income and expenditure
account|||
|Period Endin
31Au
st 2021|||
|Unwinding
ofthe discount factor (interest expense)||506|
|Remeasurements
- impact ofany change in assumptions||(K
448)|
##
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##
##
|for the Year Ended 3|1Au ust 202|2|||
|---|---|---|---|---|
||||31.8.22|31.8.21|
|INCOME AND ENDOWMENTS|||||
|Investment
income|||||
|Bank interest received||||31|
|Charitable
activities|||||
|School fees|||1,369,121|1,451,614|
|Events &charitable
activities|||12,087|3,104|
|Other income|||178|5,572|
|Entrance fees|||750|1,100|
|Uniform
sales|||7,111|9,210|
|Trips &excursions|||9,155|1 228|
||||1,398,402|1471,828|
|Total incoming resources|||1,398,513|1,471,859|
|EXPENDITURE|||||
|Administration
ofthe|school||||
|Hire ofminibus|||1,009|6,212|
|Diocese land rent|||100|100|
|Departmental
expenses|||19,799|10,600|
|Examination
fees|||10,345|7,039|
|Subscription &licences|||16,382|13,400|
|Telephone|||2,534|3,061|
|Postage and stationery|||25,963|25,989|
|Sundiy meetings &refreshments|||1,966|5,627|
|Advertising|||5,180|3,987|
|Continued
professional|development|and training|1,775|1,709|
|Debt write-off and provision
Trips &excursions|||66,455
13,959|(7,339)
2,824|
|Uniform purchases|||10,385|10,359|
|Minibus
running
costs|||2,922|1,074|
|Disclosure
and bairing|service checks||596|383|
|ITmaintenance
and contracts|||48,000|48,000|
|Bank charges|||404|30|
|Events &charitable
activities|||16066|4,896|
||||243,840|137,951|
|Staffing costs|||||
|Wages|||936,641|943,342|
|Social security|||89,261|83,220|
|Pensions|||174,986|177,268|
|Recruitment
costs|||2,881|4,375|
|Expected return on pension scheme assets|||(4,289)|(448)|
|Interest on pension scheme liabilities|||555|506|
||||1,200,035|1,208,263|
##
|for the Year Ended 3|1|Au ust 2022||||
|---|---|---|---|---|---|
|||||31.8.22|31.8.21|
|Staffing costs||||||
|Premises costs||||||
|Cleaning
and waste removal
Heat &light
Insurance||||43,705
26,921
12,072|65,267
25,915
9,431|
|Rates &water||||10,688|5,873|
|Building maintenance
renewals|&|other repairs|and|35,524|43,098|
|||||128,910|149,584|
|Other charitable
activities||||||
|Amortisation
ofthe website|||||900|
|Freehold property
Property
improvements
Plant and machinery||||2,032
4,154
9,260|2,032
4, 154
4,986|
|Fixtures and fittings
Equipment
etc
Computer
equipment||||2,132
1,068
4 059|2,843
1,424
4493|
|||||22,705|20,832|
|Support costs||||||
|Governance
costs||||||
|Auditors'
remuneration||||4,395|4,089|
|Auditors'
remuneration||for non-audit|work|4,395|4,089|
|Legal and professional||fees||9,982|8,946|
|||||18,772|17,124|
|Total resources expended||||1614 262|1,533 754|
|Net expenditure||||~215749)|~61,895)|