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||||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|||||
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|||||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|
##
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||||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|||||
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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022f|2022|2021|
|Government|grants||||
|Coronavirus|Job Retention Scheme income|||125,185|
|||||125,185|
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|||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|
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||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||
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|||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|
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|||2022|2021|
|---|---|---|---|
|||No.|No.|
|Management|and administration|12|11|
|Teaching||84|76|
|Domestic and|catering|20|20|
|||116|107|
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|2022|2021|
|---|---|
|No.|No.|
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||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|
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|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|
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|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|
##
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|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|
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|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|
##
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|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|
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|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|
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