2020-07-31-accounts - St Catherine's School, Twickenham

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	Page
Reference and administrative details of the charity, its trustees and advisers	1−3
Governors' report	4−13
Independent auditors' report	14−16
Statement of financial activities	17
Balance sheet	18
Statement of cash flows	19
Notes to the financial statements	20−40

		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
	Note	£	£	£
INCOME FROM:
Charitable activities	2	5,589,655	5,589,655	6,100,942
Other trading activities	4	69,706	69,706	82,860
Investments	5	27,840	27,840	15,589
Other income	3	94,406	94,406	−
TOTAL INCOME		5,781,607	5,781,607	6,199,391
EXPENDITURE ON:
Raising funds	6	95,443	95,443	116,794
Charitable activities	8,7	5,437,550	5,437,550	5,430,686
TOTAL EXPENDITURE	11	5,532,993	5,532,993	5,547,480
NET INCOME BEFORE OTHER RECOGNISED GAINS AND
LOSSES		248,614	248,614	651,911
NET MOVEMENT IN FUNDS		248,614	248,614	651,911
RECONCILIATION OF FUNDS:
Total funds brought forward		7,981,180	7,981,180	7,329,269
		8,229,794	8,229,794	7,981,180
TOTAL FUNDS CARRIED FORWARD

			2020		2019
	Note
FIXED ASSETS
Tangible assets	17		8,861,789		9,054,322
CURRENT ASSETS
Debtors	18	1,969,773		2,091,617
Cash at bank and in hand		3,813,297		3,236, 772
		5,783,070		5,328,389
CREDITORS: amounts falling due within
one year	19	(3,421,825)		(3,273,410)
NET CURRENT ASSETS			2,361,245		2,054,979
TOTAL ASSETS LESS CURRENT LIABILITIES			11,223,034		11,109,301
CREDITORS: amounts falling due after
more than one year	20		(2,993,240)		(3,128,121)
NET ASSETS			8,229,794		7,981,180
CHARITY FUNDS
Unrestricted funds	21		8,229,794		7,981,180
TOTAL FUNDS			8,229,794		7,981,180

		2020	2019
	Note
Cash flows from operating activities
Net cash provided by operating activities	22	891,813	1,003,401
Cash flows from investing activities:
Dividends, interest and rents from investments		27,840	15,589
Purchase of tangible fixed assets		(146,747)	(86,937)
Net cash used in investing activities		(118,907)	(71,348)
Cash flows from financing activities:
Repayments of borrowings		(196,381)	(3,513,976)
Cash inflows from new borrowing			3,350,000
Net cash used in financing activities		(196,381)	(163,976)
Change in cash and cash equivalents in the year		576,525	768,077
Cash and cash equivalents brought forward		3,236,772	2,468,695
Cash and cash equivalents carried forward		3,813,297	3, 236, 772

INCOME FROM CHARITABLE ACTI	VITIES
	Unrestricted	Total	Total
	funds	funds	funds
	2020	2020	2019
	£	£	£
Tuition fees	5,195,593	5,195,593	5,459,594
School Activities	371,102	371,102	609,668
Other income	22,960	22,960	31,680
	5,589,655	5,589,655	6,100,942
Total 2019	6,100,942	6,100,942

ANALYSIS OF TUITION FEES
	2020	2019
	£	£
Gross fees	5,991,345	5,977,255
Discounts and staff allowances	(347,321)	(70,623)
Scholarships	(121,888)	(96,320)
Bursaries	(326,543)	(350,718)
Total	5,195,593	5,459,594

	2020	2019
After school club	12,848	24,400
Breakfast club	5,704	8,255
Visits and trips	63,169	170,181
Examination fees	20,736	26,698
Registration fees	23,499	21,900
Fee deposits surrendered	4,227	3,500
Catering income	240,919	354,734
Total	371,102	609,668

	2020	2020	2019	2019
	No.	£	No.	£
Senior School	321	4,925	314	4,710
Junior School	80	4,048	99	3,892
Early Years	21	3,689	32	3,548
Total	422		445

						restated
				Unrestricted	Total	Total
				funds	funds	funds
				2020	2020	2019
Job	Retention	Scheme	grants	94,406	94,406
				94,406	94,406

4.	OTHER TRADING ACTIVITIES
		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
		£	£	£
	Lettings income	69,706	69,706	82,860
	Total 2019	82,860	82,860
5.	INVESTMENT INCOME
		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
		£	£	£
	Interest receivable	27,840	27,840	15,589
	Total 2019	15,589	15,589
6.	COSTS ASSOCIATED WITH RAISING FUNDS
		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
		£	£	£
	Bank interest and rate cap premium	95,443	95,443	116,794
	Total 2019	116,794	116,794

	Unrestricted	Total	Total
	funds	funds	funds
	2020	2020	2019
	£	£	£
School tuition	5,052,920	5,052,920	4,853,631
School activities	331,190	331,190	525,343
	5,384,110	5,384,110	5,378,974
Total 2019	5,378,974	5,378,974

GOVERNANCE COSTS
	Unrestricted	Total	Total
	funds	funds	funds
	2020	2020	2019
	£	£	£
Auditors' remuneration	17,284	17,284	16,712
Professional fees	15,500	15,500	20,000
Legal fees	20,656	20,656	15,000
	53,440	53,440	51,712

DIRECT COSTS
	School	School	Total	Total
	Operations	activities	2020	2019
	£	£	£	r
After school club	−	204	204	615
Breakfast club		3,115	3,115	4,210
Catering expenditure	−	207,777	207,777	322,738
Visits and trips	−	98,677	98,677	169,693
Exam fees	−	21,417	21,417	28,086
Repairs & maintenance	254,610		254,610	264,772
Rates	33,909		33,909	35,871
Utilities	88,777		88,777	97,801
Insurance	45,836		45,836	41,965
Advertising	1,250		1,250	250
Books & other academic				.
resources	100,697		100,697	/23,759
ICT development	7,158		7,158	8,558
Legal expenses	6,658		6,658	3,569
Office expenses	7,665		7,665	12,941
Professional expenses	7,273		7,273	79,605
Training & subs	10,534		10,534	16,601
Bank and credit card charges	2,551		2,551	26,462
Wages and salaries	2,362,484		2,362,484	2,306,650
National insurance	247,497		247,497	239,553
Pension cost	530,397		530,397	371,250
Depreciation	339,280		339,280	323,224
	4,046,576	331,190	4,377,766	4,478,173
Total 2019	3,952,831	525,342	4,478,173

	School	Total	Total
	tuition	2020	2019
Motor expenses	5,524	5,524	6,439
Advertising	40,239	40,239	50,789
Bad debts and debt collection costs	17,045	17,045	27,695
Computer costs	64,164	64,164	62,534
Office expenses	55,365	55,365	60,790
Telephone	14,272	14,272	11,478
Training and subscriptions	11,145	11,145	24,673
Wages and salaries	697,598	697,598	571,381
National insurance	60,174	60,174	50,846
Pension cost	40,818	40,818	34,176
	1,006,344	1,006,344	900,801
Total 2019	900,801	900,801

	Staff costs	Depreciation	Other costs	Total	Total
	2020	2020	2020	2020	2019
	£	£	£	£	£
Interest payable and rate
cap premium			95,443	95,443	116,794
COSTS OF RAISING
FUNDS			95,443	95,443	116,794
School Operations	3,938,968	339,280	774,672	5,052,920	4,853,632
School activities			331,190	331,190	525,342
CHARITABLE ACTIVITIES	3,938,968	339,280	1,105,862	5,384,110	5,378,974
EXPENDITURE ON
GOVERNANCE			53,440	53,440	51,712
	3,938,968	339,280	1,254,745	5,532,993	5,547,480
Total 2019	3,573,856	323,224	1,650,400	5,547,480

	2020	2019
Depreciation of tangible fixed assets:
−owned by the charity	339,280	323,224

AUDITORS' REMUNERATION
	2020	2019
Fees payable to the company's auditor and its associates for the
audit of the company's annual accounts	9,800	9,520
Fees payable to the company's auditor and its associates in
respect of:
All other non−audit services not included above	5,628	5,602

STAFF COSTS Staff costs were as follows:
	2020	2019
Wages and salaries	3,060,082	2,878,031
Social security costs	307,671	290,399
Other pension costs	571,215	405,426
	3,938,968	3,573,856

The average number of persons employed by t	he companyduring the year was as follows:
	2020	2019
	No.	No.
Teaching	57	59
Non−teaching	27	24
	84	83

T	he n	umbe	r of higher paid employees was:
				2020	2019
				No.	No.
In In In	the the the	band band band	£60,001 −£70,000 £70,001 −£80,000 £90,001 −£100,000	3 1 0	2 1
In	the	band	£120,001 −£130,000	1	0

The tax assessed for the year is lower than (2019 −lower than)_the s UK of 19% (2019−19%)._ The differences are explained below:	tandard rate of corpo	ration tax in the
	2020	2019
	£	r
Surplus on ordinary activities before tax	248,614	651,9/1
Surplus on ordinary activities multiplied by standard rate of
corporation tax in the UK of 19% (2019−19%)	47,237	123,863
EFFECTS OF:
Non−taxable income less expenses not deductible for tax purposes	(47,237)	(123,863)
CURRENT TAX CHARGE FOR THE YEAR (see note above)
FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

TANGIBLE FIXED ASSETS
	Freehold	Motor	Fixtures and
	property	vehicles	fittings	Total
	£	£	£	£
COST
At 1 August 2019	11,388,719	56,292	958,987	12,403,998
Additions			146,747	146,747
At 31 July 2020	11,388,719	56,292	1,105,734	12,550,745
DEPRECIATION
At 1 August 2019	2,367,938	56,292	925,446	3,349,676
Charge for the year	301,676		37,604	339,280
At 31 July 2020	2,669,614	56,292	963,050	3,688,956
NET BOOK VALUE
At 31 July 2020	8,719,105		142,684	8,861,789
At 31 July 2019	9,020,781		33,541	9,054,322

DEBTORS
	2020	2019
Trade debtors	1,909,307	1,893,022
Other debtors	1,600	2,145
Prepayments and accrued income	58,866	196,450
	1,969,773	2,091,617

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2020	2019
	£	£
Bank loans and overdrafts	223,333	223,333
Pupil deposits and fees in advance for the Autumn term	2,156,431	2,020,931
Trade creditors	49,501	203,395
Other taxation and social security	86,653	83,913
Other creditors	168,845	144,814
Accruals and deferred income	737,062	597,024
	3,421,825	3,273,410
		£
DEFERRED INCOME
Deferred income at 1 August 2019		1,969,443
Resources deferred during the year Amounts released from previous years		2,078,931 (1,969,443)
Deferred income at 31 July 2020		2,078,931

		2020	2019
		£	£
Bank	loans	2,761,747	2,958,128
Pupil	deposits	231,493	169,993
		2,993,240	3,128,121

	Balance at			Balance at
	1 August			31 July
	2019	Income	Expenditure	2020
	£	£	£	£
DESIGNATED FUNDS
Sisters of Mercy Fund	596,639			596,639
GENERAL FUNDS
General Funds −all funds	7,384,541	5,781,607	(5,532,993)	7,633,155
Total Unrestricted funds	7,981,180	5,781,607	(5,532,993)	8,229,794
Total of funds	7,981,180	5,781,607	(5,532,993)	8,229,794

	Balance at
	1 August			Balance at
	2018	Income	_Expenditure _	31 July 2019
	£	£	£	r
Sisters of Mercy Fund	596,639		−	596,639
General Funds −all funds	6,732,630	6,199,391	(5,547,480)	7,384,541
Total of funds	7,329,269	6,199,391	(5,547,480)	7,981,180

	Balance at			Balance at
	1 August		Expenditur	31 July
	2019	Income	e	2020
	£	£	£	£
Sisters of Mercy Fund	596,639		−	596,639
General funds	7,384,541	5,781,607	(5,532,993)	7,633,155
	7,981,180	5,781,607	(5,532,993)	8,229,794

	Balance at
	1 August			Balance at
	2018	Income	_Expenditure _	31 July 2019
Designated funds	596,639			596,639
General funds	6,732,630	6,199,391	(5,547,480)	7,384,541
	7,329,269	6,199,391	(5,547,480)	7,981,180

	2020	2019
Net income for the year (as per Statement of Financial Activities)	248,614	651,911
Adjustment for:
Depreciation charges	339,280	323,224
Dividends, interest and rents from investments	(27,840)	(15,589)
(Increase) in debtors	121,844	(111,916)
Increase in creditors	209,915	155,771
Net cash provided by operating activities	891,813	1,003,401
ANALYSIS OF CASH AND CASH EQUIVALENTS
	2020	2019
Cash in hand	3,813,297	3,236,772
Total	3,813,297	3,236,772

	2020	2019
AMOUNTS PAYABLE:
Within 1 year Between 1 and 5 years	29,790 8,352	29,790 38,142
Total	38,142	67,932

		2020	2019
Financial	assets measured at amortised cost	5,724,204	5,131,938
Financial	liabilities measured at amortised cost	4,249,481	4,348,182