## 



||Page|
|---|---|
|Reference and Administrative<br>Details||
|Trustees' Report||
|Report ofthe Independent<br>Auditors||
|Statement ofFinancial Activities|14|
|Balance Sheet|15|
|Cash Flow Statement|16|
|Notes to the Cash Flow Statement|17|
|Notes to the Financial Statements|18|
|Detailed Statement of Financial Activities|37|





## 

## 

|Trustees|||Mr N D Crane Company|Mr N D Crane Company|Partner||
|---|---|---|---|---|---|---|
||||Mr P l Haslam<br>Marine Management||||
||||Dr S Bottomley||||
||||Mr R H Chalk||||
||||Mrs S L Ratchford||||
||||Mrs E 1Saunders||||
|Registered|office||2 Cromer Road||||
||||Hunstanton||||
||||Norfolk||||
||||PE36 6HW||||
|Registered|company|number|02736338(England|and|Wales)||
|Registered|charity number||1018815||||
|Auditors|||Stephenson<br>Smart|(East Anglia) Limited|||
||||Chartered<br>accountants||&statutory|auditor|
||||22-26 King Street||||
||||King's Lynn||||
||||Norfolk||||
||||PE30 1HJ||||





## 



## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 



## 

## 




## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 



## 

## 

|||||||31.8.22|31.8.21|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||fund|funds|funds|funds|
||||Notes|E|E|E|E|
|Income and endowments||from||||||
|Donations<br>and legacies||||4,192|10,000|14,192|37,100|
|Charitable<br>activities||||||||
|Sale ofgoods/services|as|part ofdirect||||||
|charitable<br>activities||||1,920,907|34,549|1,955,456|1,656,920|
|Other trading<br>activities||||35,067||35,067|22,903|
|Other income||||27,576||27,576|112,025|
|Total||||1,987,742|44,549|2,032,291|1,828,948|
|Expenditure<br>on||||||||
|Raising funds|||7|1,566,854|50,577|1,617,431|1,310,441|
|Charitable<br>activities||||||||
|Sale ofgoods/services|as|part ofdirect||||||
|charitable<br>activities||||317||317||
|Support Costs||||459,030||459,030|382,446|
|Other||||222,220|3,600|225,820|147,772|
|Total||||2,248,421|54,177|2,302,598|1,840,659|
|NET INCOME/(EXPENDITURE)||||(260,679)|(9,628)|(270,307)|(11,711)|
|Reconciliation offunds||||||||
|Total funds brought|forward|||28,426|337,409|365,835|377,546|
|Total funds carried forward||||(232,253)|327,781|95,528|365,835|





## 

## 

||||||31.8.22|31.8.21|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||fund|funds|funds|funds|
|||Notes|E|E|E|E|
|Fixed assets|||||||
|Tangible assets||15|1,293,569|292,584|1,586,153|1,619,994|
|Current assets|||||||
|Stocks||16|900||900|900|
|Debtors||17|131,629||131,629|224,660|
|Prepayments|and accrued income||17,706||17,706|79,033|
|Cash at bank|and in hand||123,055|35,197|158,252|235,850|
||||273,290|35,197|308,487|540,443|
|Creditors|||||||
|Amounts<br>falling due within one year||18|(347,780)||(347,780)|(313,445)|
|Net current|assets||(74,490)|35,197|(39,293)|226,998|
|Total assets|less current liabilities||1,219,079|327,781|1,546,860|1,846,992|
|Creditors|||||||
|Amounts<br>falling due after more than one year||19|(859,158)||(859,158)|(933,801)|
|Accruals and|deferred income|22|(592,174)||(592,174)|(547,356)|
|NET ASSETS|||(232,253)|327,781|95,528|365,835|
|Funds||23|||||
|Unrestricted|funds||||(232,253)|28,426|
|Restricted funds|||||327,781|337,409|
|Total funds|||||95,528|365,835|





## 

|||||31.8.22|31.8.21|
|---|---|---|---|---|---|
||||Notes|6|6|
|Cash flows from operating||activities||||
|Cash generated<br>from operations||||120,561|174,779|
|Interest paid||||(28,484)|(27,544)|
|Finance costs paid||||(15,647)|(15,173)|
|Interest paid in financing|activities|||37,423|37,178|
|Net cash provided<br>by operating<br>activities||||113,853|169,240|
|Cash flows from investing||activithte||||
|Purchase oftangible<br>fixed||assets||(5,498)|(48,373)|
|Sale oftangible fixed assets|||||444|
|Net cash used in investing||activities||(5,498)|(47,929)|
|Cash flows from financing||activit(es||||
|Repayments<br>of borrowings||||(75,032)|(53,636)|
|Interest paid||||(37,423)|(37,178)|
|Net cash used in financing||activitieS||(112,455)|(90,814)|
|Change in cash and cash|equivalents||in the|||
|reporting<br>period||||(4,100)|30,497|
|Cash and cash equivalents||at the beginning||||
|ofthe reporting<br>period||||162,352|131,855|
|Cash and cash equivalents||at the end|of|||
|the reporting<br>period||||158,252|162,352|





## 

## 

## 

|1.|Reconciliation of|net expenditure|net expenditure|net expenditure|net expenditure|to net cash flow from operating|to net cash flow from operating|activities|||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||31.8.22|31.8.21|
||||||||||6|6|
||Net expenditure|for||the|reporting|period (as per|the Statement of||||
||Financial Activities)||||||||(270,307)|(11,711)|
||Adjustments<br>for:||||||||||
||Depreciation<br>charges||||||||39,338|40,012|
||Interest paid||||||||28,484|27,544|
||Finance costs||||||||15,647|15,173|
||Decrease<br>in debtors||||||||154,358|10,868|
||Increase<br>in creditors||||||||153,041|92,893|
||Net cash provided||by operations||||||120,561|174,779|
||Analysis ofcash and|||cash equivalents|||||||
||||||||||31.8.22|31.8.21|
||||||||||6|6|
||Cash in hand||||||||332|842|
||Notice deposits (less|||than 3 months)|||||157,920|235,008|
||Overdrafts<br>included|||in bank loans||and overdrafts|falling due within|one year||(73,498)|
||Total cash and cash||equivalents||||||158,252|162,352|
|3.|Analysis ofchanges|||in net debt|||||||
||||||||At 1.9.21||Cash flow|At 31.8.22|
|||||||||6|6|6|
||Net cash||||||||||
||Cash at bank and|in|hand|||||235,850|(77,598)|158,252|
||Bank overdraft|||||||(73,498)|73,498||
|||||||||162,352|(4,100)|158,252|
||Debt||||||||||
||Debts falling due|within|||1year|||(75,795)|6,198|(69,597)|
||Debts falling due|after 1|||year|||(909,228)|68,834|(840,394)|
|||||||||(985,023)|75,032|(909,991)|
||Total|||||||(822,671)|70,932|(751,739)|





## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

|3.|Donations|and legacies|and legacies||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||31.8.22|31.8.21|
||||||||||E|E|
||Donations|to the Trust|||||||4,192|27,100|
||Earl &Stuart Charitable|||Trust|||||10,000|10,000|
||||||||||14,192|37,100|
|4.|Other trading activities||||||||||
||||||||||31.8.22|31.8.21|
||||||||||E|E|
||Fundraising||events||||||816|3,770|
||Letting and||licensing||||||34,251|19,133|
||||||||||35,067|22,903|
|5|Income from charitable||||activities||||||
||||||||||31.8.22|31.8.21|
|||||||Activity|||E|E|
|||||||Sale ofgoods/services||as part ofdirect|||
||Pre-prep|school fees||||charitable|activities||322,583|205,238|
|||||||Sale ofgoods/services||as part ofdirect|||
||Prep school||fees|||charitable|activities||713,952|585,448|
|||||||Sale ofgoods/services||as part of direct|||
||Nursery fees|||||charitable|activities||386,796|330,978|
|||||||Sale ofgoods/services||as part ofdirect|||
||Boarding|||||charitable|activities||34,127|23,773|
|||||||Sale ofgoods/services||as part ofdirect|||
||Payments|from governments||||charitable|activities||468,969|494,642|
|||||||Sale ofgoods/services||as part ofdirect|||
||Ancillary|trades||||charitable|activities||29,029|16,841|
||||||||||1,955,456|1,656,920|
||Grants received, included||||in|the above, are as follows:|||||
||||||||||31.8.22|31.8.21|
||||||||||E|E|
||NCC||||||||468,969|15,900|





## 

## 

## 

|||||31.8.22|31.8.21|
|---|---|---|---|---|---|
|||||E|E|
|Government||grant|income|27,576|107,025|
|Insurance|claim||||5,000|
|||||27,576|112,025|



## 

## 

|Other trading|activ|iti|es|||
|---|---|---|---|---|---|
|||||31.8.22|31.8.21|
|||||E|E|
|Staff costs||||1,253,868|1,133,988|
|Hire of plant and machinery||||1,056||
|Commission||||1,205||
|Bad debts||||30,660|8,052|
|School curriculum||&|trip costs|53,619|38,304|
|Staff training|and recruitment|||5,590|4,646|
|Rent||||17,334|15,150|
|Rates and water||||20,978|17,820|
|Light and heat||||193,783|52,469|
|Depreciation||||39,338|40,012|
|||||1,617,431|1,310,441|
|Charitable<br>activities|||costs|||
||||||Support|
||||||costs (see|
||||||note 9)|
||||||E|
|Sale ofgoods/services|||as part ofdirect|||
|charitable<br>activities|||||317|
|Support Costs|||||459,030|
||||||459,347|



## 



## 

## 

## 

## 

## 

|Support costs|||||
|---|---|---|---|---|
||||Governance||
|||Management|costs|Totals|
|||E|E|E|
|Sale ofgoods/services<br>as part ofdirect|||||
|charitable<br>activities||317||317|
|Support Costs||428,484|30,546|459,030|
|||428,801|30,546|459,347|
|Net income/(expenditure)|||||
|Net income/(expenditure)|is stated after charging/(crediting):||||
||||31.8.22|31.8.21|
||||E|E|
|Depreciation<br>-owned assets|||39,339|40,012|
|Hire of plant and machinery|||1,056||
|Bank interest payable and|other charges||44,131|42,217|
|Auditors'<br>remuneration|||||
||||31.8.22|31.8.21|
||||E|E|
|Fees payable for the audit|ofthe financial statements||7,000|5,200|
|Fees payable to the charity's auditor and its associates for other services:|||||
|Other non-audit<br>services|||3,771|8,966|
|Fees payable<br>in respect of|the charity's|pension scheme:|||
|Audit ofthe pension scheme|||990|798|



## 

## 



## 

## 

## 

|Staff costs|||||
|---|---|---|---|---|
||||31.8.22|31.8.21|
||||E|E|
|Wages and salaries|||1,405,979|1,224,748|
|Social security costs|||83,478|69,883|
|Other pension costs|||94,502|83,322|
||||1,583,959|1,377,953|
|The average monthly|number of employees|during the year was as follows:|||
||||31.8.22|31.8.21|
|Teaching and support|staff||21|21|
|Nursery|||47|45|
|Domestic|||8|7|
|Grounds|||5|3|
|Office and administration|||5|5|
||||86|81|



|||31.8.22|31.8.21|
|---|---|---|---|
|E60,001|—E70,000|1||



## 

|Comparatives|for the statement|for the statement|for the statement|offinancial activities||||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|
||||||fund|funds|funds|
||||||E|E|E|
|Income and endowments|||from|||||
|Donations<br>and|legacies||||27,100|10,000|37,100|
|Charitable<br>activities||||||||
|Sale ofgoods/services||as|part of|direct||||
|charitable<br>activities|||||1,614,798|42,122|1,656,920|
|Other trading|activities||||22,903||22,903|
|Other income|||||112,025||112,025|
|Total|||||1,776,826|52,122|1,828,948|





## 

## 

## 

## 

|14.|Comparatives<br>for th|e statement offinancial a|ctivities - continued|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||fund|funds|funds|
||||E|E|E|
||Raising funds||1,248,966|61,475|1,310,441|
||Charitable<br>activities|||||
||Support Costs||382,446||382,446|
||Other||147,772||147,772|
||Total||1,779,184|61,475|1,840,659|
||NET INCOME/(EXPENDITURE)||(2,358)|(9,353)|(11,711)|
||Transfers between|funds|134,648|(134,648)||
||Net movement<br>in funds||132,290|(144,001)|(11,711)|
||Reconciliation<br>offunds|||||
||Total funds brought|forward|(103,864)|481,410|377,546|
||Total funds carried|forward|28,426|337,409|365,835|
|15.|Tangible fixed assets|||||
||||Freehold|Long|Plant and|
||||property|leasehold|machinery|
||||E|E|E|
||Cost|||||
||At 1September 2021||1,714,708|90,829|118,323|
||Additions||500||1,314|
||At 31August 2022||1,715,208|90,829|119,637|
||Depreciation|||||
||At 1September 2021||128,788|90,829|99,436|
||Charge for year||31,925||2,976|
||At 31August 2022||160,713|90,829|102,412|
||Net book value|||||
||At 31August 2022||1,554,495||17,225|
||At 31August 2021||1,585,920||18,887|





## 

## 

## 

## 

## 

|Tangible fixed assets - continued||||
|---|---|---|---|
||Fixtures|||
||and|Motor||
||fittings|vehicles|Totals|
||E|E|E|
|Cost||||
|At 1September 2021|25,914|22,093|1,971,867|
|Additions|3,684||5,498|
|At 31August 2022|29,598|22,093|1,977,365|
|Depreciation||||
|At 1September 2021|12,596|20,224|351,873|
|Charge for year|3,971|467|39,339|
|At 31August 2022|16,567|20,691|391,212|
|Net book value||||
|At 31August 2022|13,031|1,402|1,586,153|
|At 31August 2021|13,318|1,869|1,619,994|



## 

## 

## 

|Stocks|||||
|---|---|---|---|---|
||||31.8.22|31.8.21|
||||E|E|
|Finished goods|||900|900|
|Debtors: amounts|falling due within one year||||
||||31.8.22|31.8.21|
||||E|E|
|Trade debtors|||215,632|293,547|
|Provision for doubtful||debts|(85,953)|(70,837)|
|Other debtors|||1,950|1,950|
||||131,629|224,660|





## 

## 

## 

|Creditors: amounts|falling|due within one year|||
|---|---|---|---|---|
||||31.8.22|31.8.21|
||||E|E|
|Bank loans and overdrafts||(see note 20)|39,944|120,635|
|Other loans (see note 20)|||29,653|28,658|
|Payments<br>on account|||28,487|15,257|
|Trade creditors|||73,759|27,073|
|Social security and|other taxes||108,026|36,973|
|Pension creditor|||39,269|10,612|
|Other creditors|||9,112|28,359|
|Accrued expenses|||19,530|45,878|
||||347,780|313,445|



## 

|Credi|tors: amounts<br>falling due after more than one ye|ar||
|---|---|---|---|
|||31.8.22|31.8.21|
|||E|E|
|Bank|loans (see note 20)|477,740|516,922|
|Other|loans (see note 20)|362,654|392,306|
|Other|creditors|18,764|24,573|
|||859,158|933,801|





## 

## 

## 

|An analy|sis ofthe|ma|turity<br>of loans is given below:|||
|---|---|---|---|---|---|
|||||31.8.22|31.8.21|
|||||E|E|
|Amounts|falling due within one year on demand:|||||
|Bank overdrafts|||||73,498|
|Bankloans||||39,944|47,137|
|Trustee|loan due|&1|year|14,218|13,716|
|Norwich|Diocese|due|&1year|15,435|14,942|
|||||69,597|149,293|
|Amounts|falling due between two and five years:|||||
|- mortgage||||184,961|203,892|
|Trustee|loan due|2-5|years|62,268|60,070|
|Norwich|Diocese|due|2 5years|67,003|64,863|
|||||314,232|328,825|
|Amounts|falling due in more than five years:|||||
|Repayable<br>by instalments:||||||
|Bank loans more||5 yr by instal||292,779|313,030|
|Trustee|loan due|&5|years|215,228|231,644|
|Norwich|Diocese|due|&5years|18,155|35,729|
|||||526,162|580,403|





## 

|||31.8.22|31.8.21|
|---|---|---|---|
|||E|E|
||Within one year|4,948|5,740|
||Between one and five years|16,301|18,998|
||In more than five years|9,000|11,250|
|||30,249|35,988|
|22.|Accruals and deferred income|||
|||31.8.22|31.8.21|
|||E|E|
||Deferred income b/fwd|547,356|297,622|
||income|(547,356)|(682,313)|
||year|592,174|932,047|
|||592,174|547,356|



## 

|Movem|ent|in funds||||
|---|---|---|---|---|---|
|||||Net||
|||||movement||
||||At 1.9.21|in funds|At31.8.22|
||||E|E|E|
|Unrestricted<br>funds||||||
|General|Funds||28,426|(260,679)|(232,253)|
|Restricted||funds||||
|Restricted||Fixed Assets|299,405|(6,820)|292,585|
|Restricted||Funds|38,004|(2,808)|35,196|
||||337,409|(9,628)|327,781|
|TOTAL|FUNDS||365,835|(270,307)|95,528|





## 

## 

|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|||E|E|E|
|Unrestricted<br>funds|||||
|General<br>Funds||1,987,742|(2,248,421)|(260,679)|
|Restricted|funds||||
|Restricted|Fixed Assets||(6,820)|(6,820)|
|Restricted|Funds|44,549|(47,357)|(2,808)|
|||44,549|(54,177)|(9,628)|
|TOTAL FUNDS||2,032,291|(2,302,598)|(270,307)|



## 

|||||Net|Transfers||
|---|---|---|---|---|---|---|
|||||movement|between||
||||At 1.9.20|in funds|funds|At 31.8.21|
||||E|E|E|E|
|Unrestricted||funds|||||
|General<br>Funds|||(103,864)|(2,358)|134,648|28,426|
|Restricted|funds||||||
|Restricted|Fixed Assets||444,238|(10,184)||434,054|
|Restricted|Funds||37,172|831|(134,648)|(96,645)|
||||481,410|(9,353)|(134,648)|337,409|
|TOTALFUNDS|||377,546|(11,711)||365,835|





## 

## 

## 

## 

|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|||E|E|E|
|Unrestricted<br>funds|||||
|General<br>Funds||1,776,826|(1,779,184)|(2,358)|
|Restricted|funds||||
|Restricted|Fixed Assets||(10,184)|(10,184)|
|Restricted|Funds|52,122|(51,291)|831|
|||52,122|(61,475)|(9,353)|
|TOTAL FUNDS||1,828,948|(1,840,659)|(11,711)|



|||||Net|Transfers||
|---|---|---|---|---|---|---|
|||||movement|between||
||||At 1.9.20|in funds|funds|At31.8.22|
||||E|E|E|E|
|Unrestricted<br>funds|||||||
|General|Funds||(103,864)|(263,037)|134,648|(232,253)|
|Restricted||funds|||||
|Restricted||Fixed Assets|444,238|(17,004)||427,234|
|Restricted||Funds|37,172|(1,977)|(134,648)|(99,453)|
||||481,410|(18,981)|(134,648)|327,781|
|TOTAL|FUNDS||377,546|(282,018)||95,528|





## 

## 

|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|||E|E|E|
|Unrestricted<br>funds|||||
|General<br>Funds||3,764,568|(4,027,605)|(263,037)|
|Restricted|funds||||
|Restricted|Fixed Assets||(17,004)|(17,004)|
|Restricted|Funds|96,671|(98,648)|(1,977)|
|||96,671|(115,652)|(18,981)|
|TOTAL FUNDS||3,861,239|(4,143,257)|(282,018)|



## 



## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

|The carry|ing amount for each|category of|financial<br>i|nstrument<br>is|as follows:|||
|---|---|---|---|---|---|---|---|
|||||||31.8.22|31.8.21|
|||||||E|E|
|Financial|assets that are debt|instruments|measured|at amortised|cost|289,057|536,863|
|Financial|liabilities measured|at amortised|cost|||1,604,562|1,742,372|





## 

## 



## 

## 

## 

||||31.8.22|31.8.21|
|---|---|---|---|---|
||||E|E|
|Income and endowments|||||
|Donations<br>and legacies|||||
|Donations to the Trust|||4,192|27,100|
|Earl &Stuart Charitable||Trust|10,000|10,000|
||||14,192|37,100|
|Other trading activities|||||
|Fundraising<br>events|||816|3,770|
|Letting and licensing|||34,251|19,133|
||||35,067|22,903|
|Charitable<br>activities|||||
|Pre-prep school fees|||322,583|205,238|
|Prep school fees|||713,952|585,448|
|Nursery fees|||386,796|330,978|
|Boarding|||34,127|23,773|
|Payments<br>from governments|||468,969|494,642|
|Ancillary trades|||29,029|16,841|
||||1,955,456|1,656,920|
|Other income|||||
|Government<br>grant|income||27,576|107,025|
|Insurance<br>claim||||5,000|
||||27,576|112,025|
|Total incoming resources|||2,032,291|1,828,948|
|Expenditure|||||
|Other trading activities|||||
|Wages|||1,093,761|993,651|
|Social security|||69,227|59,477|
|Pensions|||90,880|80,860|
|Hire of plant and machinery|||1,056||
|Commission|||1,205||
|Bad debts|||30,660|8,052|
|School curriculum|& trip|costs|53,619|38,304|
|Carried forward|||1,340,408|1,180,344|





## 

## 

## 

||||31.8.22|31.8.21|
|---|---|---|---|---|
||||6|6|
|Other trading|activities||||
|Brought forward|||1,340,408|1,180,344|
|Staff training<br>and recruitment|||5,590|4,646|
|Rent|||17,334|15,150|
|Rates and water|||20,978|17,820|
|Light and heat|||193,783|52,469|
|Freehold property|||31,924|39,204|
|Plant and machinery|||2,976|732|
|Fixtures and fittings|||3,971|76|
|Motor vehicles|||467||
||||1,617,431|1,310,441|
|Other|||||
|Insurance|||21,223|19,589|
|Other establishment||costs|111,746|63,999|
|Motor vehicle|expenses||17,767|13,013|
|Housekeeping|and provisions||75,084|51,171|
||||225,820|147,772|
|Support costs|||||
|Management|||||
|Wages|||312,218|231,097|
|Social security|||14,251|10,406|
|Pensions|||3,622|2,462|
|Telephone|||8,689|8,541|
|Office expenses|||14,318|19,617|
|Staff training|and recruitment||5,239|2,299|
|Marketing|||3,418|6,759|
|Computer<br>expenses|||10,564|5,953|
|fees|||12,351|8,795|
|Bank interest|||28,484|27,544|
|Trustee loan|interest||15,647|15,173|
||||428,801|338,646|
|Governance|costs||||
|Auditors'<br>remuneration|||7,000|5,200|
|Accountancy|fees||4,761|10,562|
|Legal fees|||14,977|21,783|
|Other costs|||3,808|6,255|
||||30,546|43,800|
|Total resources expended|||2,302,598|1,840,659|
|Net expenditure|||(270,307)|(11,711)|