2023-08-31-accounts - Glebe House School Trust Ltd

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	Page
Reference and Administrative Details
Trustees' Report
Report ofthe Independent Auditors	10
Statement of Financial 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	Partner (resigned	Partner (resigned	Partner (resigned	6.7.2023)	6.7.2023)
			Mr P J I-laslam Director
			Dr S Bottomley (resigned 6.7.2023)
			Mr R H Chalk (resigned	6.7.2023)
			Mrs S L Ratchford
			Mrs E)Saunders
			Mrs R Caldicott Teacher	(appointed		12.1.2023)
			Mrs i N G Hammond Director (appointed				12.1.2023)
			Mrs D Perry Teacher (appointed		12.1.2023)
			Mr Ef Snaith Director (appointed		9.2.2023)
			Ms C P Stewart Finance	Director	(appointed			9.2.2023)
			Mr 1J Shuardson-Hipkin	Solicitor	(appointed			12.1.2023)
			Mrs Ki Shelton-Innes Partner (appointed				9.2.2023)
			Mrs L Neidle Governor (appointed			6.7.2023)
			Mrs H ESearle (appointed 12.1.2023)
			Mrs L Hawkins Teacher	(appointed		12.1.2023)
			Mrs R A Brown Manager	(appointed		9.2.2023) (resigned
			31.12.2023)
Registered	office		2 Cromer Road
			Hunstanton
			Norfolk
			PE36 6HW
Registered	company	number	02736338(England and	Wales)
Registered	charity number		1018815
Auditors			Stephenson Smart (East Anglia) Limited
			Chartered accountants	&statutory		auditor
			22-26 King Street
			King's Lynn
			Norfolk
			PE30 1HJ

							31.8.23	31.8.22
					Unrestricted	Restricted	Total	Tota I
					fund	funds	funds	funds
				Notes	E	E	E	E
Income and endowments			from
Donations and legacies					327,364	10,000	337,364	14,192
Charitable activities
Sale ofgoods/services		as part of direct
charitable activities					2,133,317	19,851	2,153,168	1,955,456
Other trading activities					50,553		50,553	35,067
Investment income					203		203
Other income					1,000		1,000	27,576
Total					2,512,437	29,851	2,542,288	2,032,291
Expenditure on
Raising funds				8	1,605,881	52,438	1,658,319	1,617,431
Charitable activities
Sale ofgoods/services		as part ofdirect
charitable activities								317
Support Costs					577,887		577,887	459,030
Other					221,242	3,291	224,533	225,820
Total					2,405,010	55,729	2,460,739	2,302,598
NET INCOME/(EXPENDITURE)					107,427	(25,878)	81,549	(270,307)
Reconciliation offunds
Total funds brought	forward				(232,253)	327,781	95,528	365,835
Total funds carried forward					(124,826)	301,903	177,077	95,528

							31.8.23	31.8.22
					Unrestricted	Restricted	Tota I	Total
					fund	funds	funds	funds
				Notes	E	E	E	E
Fixed assets
Tangible assets				16	1,284,701	285,819	1,570,520	1,586,153
Current assets
Stocks				17	900		900	900
Debtors				18	256,446		256,446	131,629
Prepayments	and accrued income				19,059		19,059	17,706
Cash at bank	and	in hand			83,370	16,084	99,454	158,252
					359,775	16,084	375,859	308,487
Creditors
Amounts falling due within one year				19	(388,458)		(388,458)	(347,780)
Net current	assets				(28,683)	16,084	(12,599)	(39,293)
Total assets	less	current liabilities			1,256,018	301,903	1,557,921	1,546,860
Creditors
Amounts falling due after more than one year				20	(1,061,015)		(1,061,015)	(859,158)
Accruals and	deferred		income	23	(319,829)		(319,829)	(592,174)
NET ASSETS					(124,826)	301,903	177,077	95,528
Funds				24
Unrestricted	funds						(124,826)	(232,253)
Restricted funds							301,903	327,781
Total funds							177,077	95,528

					31.8.23	31.8.22
				Notes	6	6
Cash flows from operating		activities
Cash generated from operations					(199,504)	120,561
Interest paid					(99,105)	(28,484)
Finance costs paid					(5,231)	(15,647)
Interest paid in financing	activities				82,361	37,423
Interest received					203
Net cash (used in)/provided		by operating		activities	(221,276)	113,853
Cash flows from investing		activities
Purchase oftangible fixed		assets			(27,726)	(5,498)
Net cash used in investing		activities			(27,726)	(5,498)
Cash flows from financing		activities
New loans in year					987,000
Repayments of borrowings					(804,598)	(75,032)
Interest paid					(82,361)	(37,423)
Net cash provided by/(used		in) finanong		activities	100,041	(112,455)
Change in cash and cash equivalents			in the
reporting period					(148,961)	(4,100)
Cash and cash equivalents		at the beginning
ofthe reporting period				2	158,252	162,352
Cash and cash equivalents		at the end	of
the reporting period					9,291	158,252

Reconciliation of net income/(expenditure)	Reconciliation of net income/(expenditure)	to	net cash flow from operating	net cash flow from operating	activities
					31.8.23	31.8.22
					E	E
Net income/(expenditure) for the reporting		period (as per the
Statement of Financial Activities)					81,549	(270,307)
Adjustments for:
Depreciation charges					40,337	39,338
Loss on disposal of fixed assets					3,021
Interest paid					99,105	28,484
Finance costs					5,231	15,647
Interest received					(203)
(Increase)/decrease	in debtors				(126,170)	154,358
(Decrease)/increase	in creditors				(302,374)	153,041
Net cash (used in)/provided by operations					(199,504)	120,561
Analysis ofcash and	cash equivalents
					31.8.23	31.8.22
					E	E
Cash in hand					837	332
Notice deposits (less	than 3 months)				98,617	157,920
Overdrafts included	in bank loans and overdrafts		falling due within	one year	(90,163)
Total cash and cash equivalents					9,291	158,252
Analysis ofchanges	in net debt
				At 1.9.22	Cash flow	At31.8.23
				E	E	E
Net cash
Cash at bank and in hand				158,252	(58,798)	99,454
Bank overdraft					(90,163)	(90,163)
				158,252	(148,961)	9,291
Debt
Debts falling due within 1year				(69,597)	25,247	(44,350)
Debts falling due after 1year				(840,394)	(207,649)	(1,048,043)
				(909,991)	(182,402)	(1,092,393)
Tota I				(751,739)	(331,363)	(1,083,102)

3.	Donations	Donations	and legacies	and legacies
									31.8.23	31.8.22
									E	E
	Donations		to the Trust						275,844	4,192
	Gift aid								51,520
	Earl gr Stuart Charitable				Trust				10,000	10,000
									337,364	14,192
4.	Other trading activities
									31.8.23	31.8.22
									E	E
	Fundraising			events					13,704	816
	Letting and			licensing					36,849	34,251
									50,553	35,067
5.	Investment			income
									31.8.23	31.8.22
									E	E
	Interest	received							203
	Income from charitable				activities
									31.8.23	31.8.22
						Activity			E	E
						Sale ofgoods/services		as part ofdirect
	Pre-prep	school fees				charitable	activities		317,824	322,583
						Sale ofgoods/services		as part ofdirect
	Prep school			fees		chantable	activities		760,132	713,952
						Sale ofgoods/services		as part ofdirect
	Nursery	fees				charitable	activities		460,749	386,796
						Sale ofgoods/services		as part ofdirect
	Boarding					charitable	actinnties		29,153	34,127
						Sale ofgoods/services		as part ofdirect
	Payments		from governments			charitable	activities		557,900	468,969
						Sale ofgoods/services		as part ofdirect
	Ancillary	trades				charitable	activities		27,410	29,029
									2,153,168	1,955,456

Income from	charitable	activities - continued
Grants received, included		in the above, are as follows:
			31.8.23	31.8.22
			6	6
NCC			557,900	468,969
Other income
			31.8.23	31.8.22
			f	6
Government	grant income		1,000	27,576

Other trading	act	ivities
			31.8.23	31.8.22
			6	6
Staff costs			1,346,554	1,253,868
Hire of plant and		machinery	1,056	1,056
Commission				1,205
Bad debts			10,415	30,660
School curriculum		gi trip costs	55,149	53,619
Staff training	and	recruitment	10,193	5,590
Rent			10,069	17,334
Rates and water			21,797	20,978
Light and heat			159,728	193,783
Depreciation			40,337	39,338
Support costs			3,021
			1,658,319	1,617,431

9.	Charitable a	ctivities c	osts
												Support
												costs (see
												note 10)
												E
	Support Costs											577,887
10.	Support costs
											Governance
								Management		Finance	costs	Totals
									E	E	E	E
	Other trading	activities								3,021		3,021
	Support Costs							516,848			61,039	577,887
								516,848		3,021	61,039	580,908
11.	Net income/(expenditure)
	Net income/(expenditure)			is	stated	after		charging/(crediting):
											31.8.23	31.8.22
											E	E
	Depreciation	- owned	assets								40,337	39,339
	Hire of plant	and machinery									1,056	1,056
	Deficit on disposal offixed			assets							3,021
	Bank interest	payable	and	other charges							104,336	44,131
12.	Auditors' remuneration
											31.8.23	31.8.22
											E	E
	Fees payable	for the audit of			the financial			statements			10,080	7,000
	Fees payable	to the charity's			auditor	and		its associates for	other	services:
	Other non-audit services										1,920	3,771
	Fees payable	in respect ofthe charity's					pension scheme:
	Audit ofthe pension scheme										1,140	990

	There were no tru 31August 2022.	stees' expenses paid	for the year ended 31 August	2023 nor for t	he year en
14.	Staff costs
				31.8.23	31.8.22
				f	f
	Wages and salaries			1,512,249	1,405,979
	Social security costs			94,764	83,478
	Other pension costs			88,971	94,502
				1,695,984	1,583,959
	The average monthly	number of employees	during the year was as follows:
				31.8.23	31.8.22
	Teaching and support	staff		21	21
	Nursery			48	47
	Domestic			8	8
	Grounds			3	5
	Office and administration			6	5
				86

		31.8.23	31.8.22
E60,001	- E70,000		1
E70,001	- E80,000	1

Comparatives for the	Comparatives for the	statement	statement	offinancial activities
					Unrestricted	Restricted	Total
					fund	funds	funds
					E	E	E
Income and endowments			from
Donations and legacies					4,192	10,000	14,192
Charitable activities
Sale ofgoods/services		as part of		direct
charitable activities					1,920,907	34,549	1,955,456
Other trading activities					35,067		35,067
Other income					27,576		27,576
Total					1,987,742	44,549	2,032,291
Expenditure on
Raising funds					1,566,854	50,577	1,617,431
Charitable activities
Sale of goods/services		as part of		direct
chantable activities					317		317
Support Costs					459,030		459,030
Other					222,220	3,600	225,820
Total					2,248,421	54,177	2,302,598
NET INCOME/(EXPENDITURE)					(260,679)	(9,628)	(270,307)
Reconciliation offunds
Total funds brought	forward				28,426	337,409	365,835
Total funds carried forward					(232,253)	327,781	95,528

Tangible fixed	assets
		Freehold	Long	Plant and
		property f	leasehold E	machinery f
Cost
At 1September	2022	1,715,208	90,829	119,637
Additions				21,000
Disposals				(4,302)
At 31August 2023		1,715,208	90,829	136,335
Depreciation
At 1September	2022	160,713	90,829	102,412
Charge for year		31,925		4,426
Eliminated on disposal				(3,838)
At 31August 2023		192,638	90,829	103,000
Net book value
At 31August 2023		1,522,570		33,335
At 31August 2022		1,554,495		17,225
		Fixtures
		and	Motor
		fittings	vehicles	Totals
		f	f	f
Cost
At 1September	2022	29,598	22,093	1,977,365
Additions		6,726		27,726
Disposals		(6,342)	(20,093)	(30,737)
At 31August 2023		29,982	2,000	1,974,354
Depreciation
At 1September	2022	16,567	20,691	391,212
Charge for year		3,800	186	40,337
Eliminated on disposal		(4,439)	(19,438)	(27,715)
At 31August 2023		15,928	1,439	403,834
Net book value
At 31August 2023		14,054	561	1,570,520
At 31August 2022		13,031	1,402	1,586,153

Stocks
				31.8.23	31.8.22
				f	f
Finished goods				900	900
Debtors: amounts	falling		due within one year
				31.8.23	31.8.22
				f	f
Trade debtors				351,044	215,632
Provision for doubtful		debts		(96,548)	(85,953)
Other debtors				1,950	1,950
				256,446	131,629
Creditors: amounts	falling		due within one year
				31.8.23	31.8.22
				f	f
Bank loans and overdrafts			(see note 21)	118,569	39,944
Other loans (see note		21)		15,944	29,653
Payments on account				4,082	28,487
Trade creditors				99,371	73,759
Social security and	other taxes			83,762	108,026
Pension creditor				36,580	39,269
Other creditors				8,650	9,112
Accrued expenses				21,500	19,530
				388,458	347,780

Credi	tors: amounts falling due after more than one y	ear
		31.8.23	31.8.22
		E	E
Bank	loans (see note 21)	978,830	477,740
Other	loans (see note 21)	69,213	362,654
Other	creditors	12,972	18,764
		1,061,015	859,158

				31.8.23	31.8.22
				f	f
Amounts	falling	due within one year on demand:
Bank overdrafts				90,163
Bankloans				28,406	39,944
Trustee	loan due	&1year			14,218
Norwich	Diocese	due &1year		15,944	15,435
				134,513	69,597
Amounts	falling due between		two and five years:
—mortgage				119,719	184,961
Trustee	loan due	2-5 years			62,268
Norwich	Diocese	due 2-5years		69,213	67,003
				188,932	314,232
Amounts	falling due in more than five years:
Repayable by instalments:
Bank loans more		5 yr by instal		859,111	292,779
Trustee	loan due	& 5 years			215,228
Norwich	Diocese	due & 5years			18,155
				859,111	526,162

	31.8.23	31.8.22
	f	f
Within one year	15,689	4,948
Between one and five years	29,458	16,301
In more than five years	6,750	9,000
	51,897	30,249

Accruals	and def	erred income
			31.8.23	31.8.22
			F.	6
Deferred	income	b/fwd	348,580	547,356
income			(348,580)	(547,356)
year			319,829	592,174
			319,829	592,174

Movement	in f	unds
						Net
						movement
					At 1.9.22	in funds	At 31.8.23
					6	6	6
Unrestricted funds
General Funds					(232,253)	107,427	(124,826)
Restricted	funds
Restricted	Fixed	Assets			292,584	(6,765)	285,819
Restricted	Funds				35,197	(19,113)	16,084
					327,781	(25,878)	301,903
TOTALFUNDS					95,528	81,549	177,077
Net movement		in funds,	included	in the above are as follows:
					Incoming	Resources	Movement
					resources	expended	in funds
					6	6	6
Unrestricted funds
General Funds					2,512,437	(2,405,010)	107,427
Restricted	funds
Restricted	Fixed	Assets				(6,765)	(6,765)
Restricted	Funds				29,851	(48,964)	(19,113)
					29,851	(55,729)	(25,878)
TOTAL FUNDS					2,542,288	(2,460,739)	81,549

					Net
					movement
				At 1.9.21	in funds	At31.8.22
				E	E	E
Unrestricted 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
TOTALFUNDS				365,835	(270,307)	95,528
Comparative net movement		in funds,	included	in the above are as follows:
				Incoming	Resources	Movement
				resources	expended	in funds
				E	E	E
Unrestricted funds
General 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
				movement
			At 1.9.21	in funds	At 31.8.23
			E	f	f
Unrestricted funds
General	Funds		28,426	(153,252)	(124,826)
Restricted		funds
Restricted		Fixed Assets	299,405	(13,585)	285,820
Restricted		Funds	38,004	(21,921)	16,083
			337,409	(35,506)	301,903
TOTAL	FUNDS		365,835	(188,758)	177,077

		Incoming	Resources	Movement
		resources	expended	in funds
		f	E	E
Unrestricted funds
GeneralFunds		4,500,179	(4,653,431)	(153,252)
Restricted	funds
Restricted	Fixed Assets		(13,585)	(13,585)
Restncted	Funds	74,400	(96,321)	(21,921)
		74,400	(109,906)	(35,506)
TOTAL FUNDS		4,574,579	(4,763,337)	(188,758)

The carrying amount for each	The carrying amount for each	category of	financial	instrument	as follows:
						31.8.23	31.8.22
						E	E
Financial	assets that are debt	instruments	measured	at amortised	cost	357,462	289,057
Financial	liabilities measured	at amortised	cost			1,676,657	1,604,562

		31.8.23	31.8.22
		E	E
Income and endowments
Donations and legacies
Donations to the Trust		275,844	4,192
Gift aid		51,520
Earl 8 Stuart Charitable	Trust	10,000	10,000
		337,364	14,192
Other trading activities
Fundraising events		13,704	816
Letting and licensing		36,849	34,251
		50,553	35,067
Investment income
Interest received		203
Charitable activities
Pre-prep school fees		317,824	322,583
Prep school fees		760,132	713,952
Nursery fees		460,749	386,796
Boarding		29,153	34,127
Payments from governments		557,900	468,969
Ancillary trades		27,410	29,029
		2,153,168	1,955,456
Other income
Government grant income		1,000	27,576
Total incoming resources		2,542,288	2,032,291
Expenditure
Other trading activities
Wages		1,186,826	1,093,761
Social security		73,590	69,227
Pensions		86,138	90,880
Hire of plant and machinery		1,056	1,056
Commission			1,205
Bad debts		10,415	30,660
Carried forward		1,358,025	1,286,789

				31.8.23	31.8.22
				6	6
Other trading	activities
Brought forward				1,358,025	1,286,789
School curriculum		&trip	costs	55,149	53,619
Staff training	and recruitment			10,193	5,590
Rent				10,069	17,334
Rates and water				21,797	20,978
Light and heat				159,728	193,783
Freehold property				31,924	31,924
Plant and machinery				4,426	2,976
Fixtures and fittings				3,801	3,971
Motor vehicles				186	467
				1,655,298	1,617,431
Other
Insurance				24,442	21,223
Other establishment		costs		95,987	111,746
Motor vehicle	expenses			24,496	17,767
Housekeeping	and	provisions		79,608	75,084
				224,533	225,820
Support costs
Management
Wages				325,423	312,218
Social security				21,174	14,251
Pensions				2,833	3,622
Telephone				8,052	8,689
Office expenses				18,503	14,318
Staff training	and	recruitment		3,380	5,239
Marketing				10,255	3,418
Computer expenses				8,376	10,564
fees				14,516	12,351
Bank interest				99,105	28,484
Trustee loan	interest			5,231	15,647
				516,848	428,801
Finance
Loss on sale	oftangible		fixed assets	3,021
Governance	costs
Auditors' remuneration				10,080	7,000
Accountancy	fees			6,403	4,761
Carried forward				16,483	11,761

		31.8.23	31.8.22
		6	f
Governance	costs
Brought forward		16,483	11,761
Legal fees		23,219	14,977
Other costs		21,337	3,808
		61,039	30,546
Total resources	expended	2,460,739	2,302,598
Net income/(expenditure)		81,549	(270,307)