| Page | |||
|---|---|---|---|
| Reference and Administrative | Details ofthe Charity and its Advisers | ||
| Governors' Report |
2-7 | ||
| Governors' Responsibilities |
Statement | ||
| Independent Auditors' |
Report on the Financial Statements | 9-11 | |
| Statement of Financial | Activities | 12 | |
| Balance Sheet | 13 | ||
| Statement ofCash Flows | 14 | ||
| Notes to the Financial | Statements | 15-31 |
| Foundation | Governors | Dr RJ Faleiro MB BSFRCA FFPMRCA | Dr RJ Faleiro MB BSFRCA FFPMRCA | Dr RJ Faleiro MB BSFRCA FFPMRCA | (resigned | 17June 2022) | |
|---|---|---|---|---|---|---|---|
| Mr M R Hall DL Hon D. | Univ FCA FCMA | CGMA FCT | |||||
| Ms H Barton BScCEng | FRAeS FIMA | ||||||
| Co-opted Governors | Dr BLad CEng FIMechE, Chair | ||||||
| Ms R K Chahal (appointed |
18November | 2021) | |||||
| Dr A R Rao (appointed | 17June 2022) | ||||||
| Mrs F M KApthorpe | |||||||
| Miss S Chittim | |||||||
| Rev. A Dring (resigned | 18November 2021) | ||||||
| Mrs SSandie (resigned | 17 | June 2022) | |||||
| Miss SJ Hughes | |||||||
| Miss R EStojak | |||||||
| Mrs A K Penny (appointed | 3October 2022) | ||||||
| Mrs N Read (appointed | 17 | November 2022) | |||||
| Mrs D Wareing (appointed |
17November | 2022) | |||||
| Company | registered | ||||||
| number | 02666998 | ||||||
| Charity registered | |||||||
| number | 1007348 | ||||||
| Registered | office | Hillsway | |||||
| Littleover | |||||||
| Derby | |||||||
| DE23 3DT | |||||||
| Bursar and | Company | Mrs M Mitchell ACA, BA (Hons) | |||||
| Secretary | |||||||
| Head | Mrs A Chapman MA, BA (Hons) |
||||||
| Independent | auditors | Bates Weston Audit Limited | |||||
| Statutory Auditors | |||||||
| Chartered Accountants |
|||||||
| The Mills | |||||||
| Canal Street | |||||||
| Derby | |||||||
| DE1 2RJ | |||||||
| Bankers | Barclays Bank PLC | ||||||
| Level 4, 1 Chapel Quarter | |||||||
| Maid Marian Way | |||||||
| Notting ham | |||||||
| NG1 6HQ | |||||||
| Solicitors | Flint Bishop LLP | ||||||
| St. Michael's Court |
|||||||
| St. Michael's Lane |
|||||||
| Derby | |||||||
| DE1 3HQ |
| Unrestricted | Endowment | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| 2022 | 2022 | 2022 | 2021 | ||||
| Note | F | ||||||
| Income and endowments | from: | ||||||
| Donations and legacies |
125,185 | ||||||
| Charitable activities |
7,235,243 | 7,235,243 | 6,052,206 | ||||
| Investments | 18,823 | 18,823 | 16,486 | ||||
| Other income | 116,791 | 116,791 | 72,042 | ||||
| Total income and | endowments | 7,370,857 | 7,370,857 | 6,265,919 | |||
| Expenditure on: |
|||||||
| Raising funds | 6 | 46,851 | 46,851 | 36,811 | |||
| Charitable activities |
7 | 6,774,757 | 22,608 | 6,797,365 | 5,722,306 | ||
| Total expenditure | 6,821,608 | 22,608 | 6,844,216 | 5,759,117 | |||
| Net income/(expenditure) | before net | ||||||
| (losses)/gains on |
investments | 549,249 | (22,608) | 526,641 | 506,802 | ||
| Net (losses)/gains | on investments | (5,860) | (5,860) | 90,494 | |||
| Net movement in |
funds | 543,389 | (22,608) | 520,781 | 597,296 | ||
| Reconciliation of |
funds: | ||||||
| Total funds brought | forward | 7,248,223 | 674,768 | 7,922,991 | 7,325,695 | ||
| Net movement in funds |
543,389 | (22,608) | 520,781 | 597,296 | |||
| Total funds carried forward | 7,791,612 | 652,160 | 8,443,772 | 7,922,991 |
| Note | 2022f | 2021 | |||||
|---|---|---|---|---|---|---|---|
| Fixed assets | |||||||
| Tangible assets | 11 | 5,606,038 | 5,596,945 | ||||
| Investments | 12 | 771,386 | 777,173 | ||||
| 6,377,424 | 6,374,118 | ||||||
| Current assets | |||||||
| Debtors | 13 | 89,374 | 93,412 | ||||
| Investments | 14 | 1,003,596 | |||||
| Cash at bank and | in | hand | 2,547,195 | 2, 71'I, 772 | |||
| 3,640,165 | 2,805,184 | ||||||
| Creditors: amounts | falling due within one | ||||||
| year | 15 | (1,188,270) | (982,900) | ||||
| Net current assets | 2,451,895 | 1,822,284 | |||||
| Total assets less | current liabilities | 8,829,319 | 8,196,402 | ||||
| Creditors: amounts | falling due after more | ||||||
| than one year | (385,547) | (273,411) | |||||
| Total net assets | 8,443,772 | 7,922,991 | |||||
| Charity funds | |||||||
| Endowment funds |
17 | 652,160 | 674,768 | ||||
| Unrestricted funds |
17 | 7,791,612 | 7,248,223 | ||||
| Total funds | 8,443,772 | 7,922,99'I |
| STATEMENT OF CASH FLOWS | STATEMENT OF CASH FLOWS | |||||
|---|---|---|---|---|---|---|
| FOR THE YEAR ENDED 31JULY 2022 | ||||||
| 2022 | 2021 | |||||
| Note | ||||||
| Cash flows from operating | activities | |||||
| Net cash used in operating |
activities | 20 | 994,035 | 1,018,823 | ||
| Cash flows from investing | activities | |||||
| Purchase oftangible fixed assets |
(154,943) | |||||
| Investment additions |
(73) | (10) | ||||
| Net cash used in investing | activities | (155,016) | (10) | |||
| Cash flows from financing | activities | |||||
| Net cash provided by financing activities |
||||||
| Change in cash and cash |
equivalents | in | the year | 839,019 | 1,018,813 | |
| Cash and cash equivalents | at the beginning | ofthe year | 2,711,772 | 1,692,959 | ||
| Cash and cash equivalents | at the end of | the year | 21 | 3,550,791 | 2,711,772 | |
| The notes on pages 15to 31 form part | ofthese financial statements |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022f | 2022 | 2021 | ||
| Government | grants | |||
| Coronavirus | Job Retention Scheme income | 125,185 | ||
| 125,185 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2021 | ||
| School fees receivable | 7,059,598 | 7,059,598 | 5,947,838 | |
| Other ancillary trading |
income | 66,334 | 66,334 | 20,497 |
| Activities for generating | funds | 17,206 | 17,206 | 3,221 |
| Early years funding | 92,105 | 92,105 | 80,650 | |
| 7,235,243 | 7,235,243 | 6,052,206 |
| Unrestricted | Total | Total |
|---|---|---|
| funds | funds | funds |
| 2022f | 2022 | 2021 |
| 18,823 | 18,823 | 16,486 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022f | 2022f | 2021 | ||
| Sundry | income | 43,564 | 43,564 | 33,466 |
| Income | from school activities | 73,227 | 73,227 | 38,576 |
| 116,791 | 116,791 | 72,042 |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 202'l | |
| Advertising | 46,851 | 46,851 | 36,8'1 1 |
| Unrestricted | Endowment | ||||
|---|---|---|---|---|---|
| funds | funds | Total | Total | ||
| 2022 | 2022 | 2022 | 2021 | ||
| Educational | costs | 4,776,609 | 4,776,609 | 4,067,193 | |
| Welfare costs | 531,766 | 531,766 | 370,360 | ||
| Premises costs | 932,764 | 22,608 | 955,372 | 835,702 | |
| Support costs | 521,468 | 521,468 | 431,622 | ||
| Governance | costs | 12,150 | 12,150 | 17,429 | |
| 6,774,757 | 22,608 | 6,797,365 | 5,722,306 | ||
| Total 2021 | 5,699,698 | 22,608 | 5,722,306 |
| Staff costs | Depreciation | Other costs | Total | Total | ||
|---|---|---|---|---|---|---|
| 2022 | 2022 | 2022 | 2022 | 202'l | ||
| Educational | costs | 4,145,641 | 630,968 | 4,776,609 | 4,067,193 | |
| Welfare costs | 491 | 531,275 | 531,766 | 370,360 | ||
| Premises costs | 254,473 | 145,850 | 555,049 | 955,372 | 835,702 | |
| Support costs | 379,370 | 142,098 | 521,468 | 431,622 | ||
| Governance | costs | 12,150 | 12,150 | 17,429 | ||
| 4,779,975 | 145,850 | 1,871,540 | 6,797,365 | 5,722,306 | ||
| Total 2021 | 4,168,185 | 145,850 | 1,408,271 | 5,722,306 |
| 2022 | 2021 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Fees | payable | for | the | audit | ofthe | Charity's | annual | accounts | 8,760 | 8,640 |
| Staff | costs |
| Staff costs | ||
|---|---|---|
| 2022f | 2021 | |
| Wages and salaries | 3,764,047 | 3,301,004 |
| Social security costs | 363,144 | 309,862 |
| Other pension costs | 652,784 | 557,319 |
| 4,779,975 | 4,168,185 |
| 2022 | 2021 | ||
|---|---|---|---|
| No. | No. | ||
| Management | and administration | 12 | 11 |
| Teaching | 84 | 76 | |
| Domestic and | catering | 20 | 20 |
| 116 | 107 |
| 2022 | 2021 |
|---|---|
| No. | No. |
| Freehold | |
|---|---|
| propertyf | |
| Cost | |
| At 1 August 2021 | 7,492,511 |
| Additions | 154,943 |
| At 31 July 2022 | 7,647,454 |
| Depreciation | |
| At 1 August 2021 | 1,895,566 |
| Charge for the year | 145,850 |
| At 31 July 2022 | 2,041,416 |
| Tangible fixed assets (continued) | |
|---|---|
| Freehold | |
| property | |
| Net book value | |
| At 31 July 2022 | 5,606,038 |
| At 31Ju/y 2021 | 5,596,945 |
| Listed | Unlisted | |||
|---|---|---|---|---|
| investments | investments | Total | ||
| f | ||||
| Cost or valuation | ||||
| At 1 August 2021 | 674,369 | 102,804 | 777,173 | |
| Additions | 73 | 73 | ||
| Revaluations | (5,860) | (5,860) | ||
| At 31 July 2022 | 668,509 | 102,877 | 771,386 | |
| Debtors | ||||
| 2022 | 2021 | |||
| Due within one year | ||||
| Trade debtors | 7,243 | 3,926 | ||
| Other debtors | 18,274 | |||
| Prepayments | and accrued income | 82,131 | 71,212 | |
| 89,374 | 93,412 |
| 14. | Current asset investments | Current asset investments | |||
|---|---|---|---|---|---|
| 2022f | 2021f | ||||
| Unlisted investments |
1,003,596 | ||||
| 15. | Creditors: Amounts falling due |
within one year | |||
| 2022 | 2021 | ||||
| Final term fee deposits | 32,451 | 28,050 | |||
| Trade creditors | 136,794 | 77,139 | |||
| Other taxation and social security | 90,639 | 73,601 | |||
| Other creditors | 83,047 | 77,356 | |||
| Accruals and deferred | income | 845,339 | 726,754 | ||
| 1,188,270 | 982,900 | ||||
| 2022 | 2021 | ||||
| Deferred income brought forward |
673,360 | 440,783 | |||
| Resources deferred during the year |
823,656 | 673,360 | |||
| Amounts released from |
previous | periods | (673,360) | (440,783) | |
| 823,656 | 673,360 |
| 2022f | 2021f | ||
|---|---|---|---|
| Final term fee deposits | 220,300 | 210,301 | |
| Accruals and deferred | income | 165,247 | 63, 1'/0 |
| 385,547 | 273,411 |
| Balance at 1 | Transfers | Gains/ | Balance at | ||||
|---|---|---|---|---|---|---|---|
| August 2021f | Income | Expenditure | in/(out) | (Losses) | 31 July 2022 F |
||
| Designated | |||||||
| funds | |||||||
| Major property | |||||||
| fund | 1,100,000 | (124,475) | 124,475 | 1,100,000 | |||
| Assisted | places | ||||||
| fund | 223,947 | (118,398) | 118,398 | 223,947 | |||
| 1,323,947 | (242,873) | 242,873 | 1,323,947 | ||||
| General | funds | ||||||
| General | Funds | 5,924,276 | 7,370,857 | (6,578,735) | (242,873) | (5,860) | 6,467,665 |
| Total | |||||||
| Unrestricted | |||||||
| funds | 7,248,223 | 7,370,857 | (6,821,608) | (5,860) | 7,791,612 | ||
| Endowment | |||||||
| funds | |||||||
| The Foundation | |||||||
| Fund | 674,768 | (22,608) | 652,160 | ||||
| Total of | funds | 7,922,991 | 7,370,857 | (6,844,216) | (5,860) | 8,443,772 |
| Statement offunds | Statement offunds | (continued) | |||||
|---|---|---|---|---|---|---|---|
| Statement offunds | - prior year | ||||||
| Balance at | |||||||
| 1August | Transfers | Gains! | Balance at | ||||
| 2020 | Income | Expenditure | inl(out) | (Losses) | 31Ju/y 2021 | ||
| Designated | |||||||
| funds | |||||||
| Major property | |||||||
| fund | 1,100,000 | (81,448) | 81,448 | 1,100,000 | |||
| Assisted | places | ||||||
| fund | 280,265 | (105,723) | 49,405 | 223,947 | |||
| 1,380,265 | (187,171) | 130,853 | 1,323,947 | ||||
| General | funds | ||||||
| General | Funds | 5,248,054 | 6,265,919 | (5,549,338) | ('/30, 853) | 90,494 | 5,924,276 |
| Total | |||||||
| Unrestricted | |||||||
| funds | 6,628,319 | 6,265,919 | (5,736,509) | 90,494 | 7,248,223 | ||
| Endowment | |||||||
| funds | |||||||
| The Foundation | |||||||
| Fund | 697,376 | (22,608) | 674,768 | ||||
| Total of | funds | 7,325,695 | 6,265,919 | (5,759,117) | 90,494 | 7,922,991 |
| Summary offu |
nds - current yea | r | ||||
|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | Gains/ | Balance at | |||
| August 2021f | Income | Expenditure F |
in/(out)f | (Losses) | 31 July 2022 | |
| Designated | ||||||
| funds | 1,323,947 | (242,873) | 242,873 | 1,323,947 | ||
| General funds | 5,924,276 | 7,370,857 | (6,578,735) | (242,873) | (5,860) | 6,467,665 |
| Endowment | ||||||
| funds | 674,768 | (22,608) | 652,160 | |||
| 7,922,991 | 7,370,857 | (6,844,216) | (5,860) | 8,443,772 |
| Summary offun |
ds - prior year | |||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| 1August | Transfers | Gains! | Balance at | |||
| 2020 | Income | Expenditure | inl(out) | (Losses) | 31Ju/y 2021 | |
| Designated | ||||||
| funds | 1,380,265 | (187,171) | 130,853 | 1,323,947 | ||
| General funds | 5,248,054 | 6,265,919 | (5,549,338) | (130,853) | 90,494 | 5,924,276 |
| Endowment | ||||||
| funds | 697,376 | (22,608) | 674,768 | |||
| 7,325,695 | 6,265,919 | (5,759,117) | 90,494 | 7,922,991 |
| Analysis ofn | et assets between funds - current | year | ||
|---|---|---|---|---|
| Unrestricted | Endowment | Total | ||
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| Tangible fixed | assets | 4,953,878 | 652,160 | 5,606,038 |
| Fixed asset investments | 771,386 | 771,386 | ||
| Current assets | 3,640,165 | 3,640,165 | ||
| Creditors due | within one year | (1,188,270) | (1,188,270) | |
| Creditors due | in more than one year | (385,547) | (385,547) | |
| Total | 7,791,612 | 652,160 | 8,443,772 |
| Analysis ofn | et assets between funds - prior y | ear | ||
|---|---|---|---|---|
| Unrestricted | Endowment | Total | ||
| funds | funds | funds | ||
| 2021 | 2021 | 202'I | ||
| Tangible fixed | assets | 4,922,177 | 674,768 | 5,596,945 |
| Fixed asset investments | 777,173 | 777,173 | ||
| Current assets | 2,805,184 | 2,805,184 | ||
| Creditors due | within one year | (982,900) | (982,900) | |
| Creditors due | in more than one year | (273,411) | (273,411) | |
| Tl | 7,248,223 | 674,768 | 7,922,991 |
| 7248223 | 674768 | 7922991 | |||
|---|---|---|---|---|---|
| Total | ,, | , | ,, | ||
| 20. | Reconciliation of net movement |
in funds | to net cash flow from operating | activities | |
| 2022 | 2021 | ||||
| Net income for the year (as per Statement | of Financial Activities) | 520,781 | 597,296 | ||
| Adjustments for: |
|||||
| Depreciation charges |
145,850 | 145,850 | |||
| (Gains)/losses on investments |
5,860 | (90,496) | |||
| Decrease in debtors |
4,038 | 57,666 | |||
| Increase in creditors |
317,506 | 308,507 | |||
| Net cash provided by operating |
activities | 994,035 | 1,018,823 | ||
| 21. | Analysis ofcash and cash equivalents | ||||
| 2022 | 2021 | ||||
| Cash in hand |
2,547,195 | 2,711,772 | |||
| Curent asset investments | 1,003,596 | ||||
| Total cash and cash equivalents | 3,550,791 | 2,711,772 |
| cancellable | operating leases as follows: |
||
|---|---|---|---|
| 2022 | 2021f | ||
| Amounts | payable: | ||
| Not later than 1 year |
17,886 | 14,708 | |
| Later than | 1 year and not later than 5years | 16,635 | 7,931 |
| 34,521 | 22,639 |