2022-08-31-accounts

Charity registration number 1037597

Company registration number 02772962 (England and Wales)

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~ ST WINEFRIDES SCHOOL SHREWSBURY TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

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LEGAL AND ADMINISTRATIVE INFORMATION

ee

Trustees

The Headmistress and Bursar (Chlef Executive Officer)

Charity number

Company number

Registered[office]

independent examiner

P Strong E Tate S Ostrowski C Morgan E Coxhead (Appointed 19 January 2022) C Matthews (Appointed 27 January 2022) R Thevathasan (Appointed 1 January 2022)

Mrs E Devey

1037597

02772962

Belmont Shrewsbury SY1 1TE

Hall Livesey Brown 68 High Street Tarporley Cheshire CW6 OAT

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

CONTENTS

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	Page
Trustees’ report	1-2
Independent examiner's report	3
Statement of financial activities	4
Balance sheet	5
Statement ofcash flows	6
Notestothefinancialstatements	7-16

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2022

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The trustees present their annual report and financial statements for the year ended 31 August 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the the trust's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The object as set out in the Memorandum, which is the governing document, is the running of an independent school.

In accordance with the Memorandum, the School is a day school and kindergarten for pupils up to the age of eleven, educating them to a high standard to enable them to move to a senior school.

The school aims to help low income parents by offering reduced fees to enable their children to attend the school.

The school aims to teach children the importance of giving and sharing with people who are less fortunate.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the the trust should undertake.

The Charity is not dependent upon the services of unpaid volunteers.

Achievements and performance

The average number of pupils in the year ended 31st August 2022 was 115 (2021 - 131), made up of 39 infants (2021 - 50), 54 juniors (2021 - 65) and 22 kindergarten (2021 - 16).

The Trustees report a fee income for the year of £468,430 (2021 - £504,344) and a deficit for the year of £215,380 (2021 - deficit £130,808).

Financial Review

Reserves policy

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It is the Charity’s policy to retain adequate reserves to be able to fund future operations. Prior to 1 September 2020 the Headmistress was paid a salary below market value. There had previously been a policy of building up reserves to cover the additional costs that will arise when a new Head teacher was appointed in the future. Following the appointment of Mrs E Devey reserves will be used to cover a salary at market value. Also the trustee's have started to use the reserves to update the school building and facilities as planned.

The school has set up a restricted fund to provide a bursary for under privileged children wishing to attend the school. £17,816 is held in a separate bank account as resources designated for special purposes.

Investment policy

The Memorandum allows the Directors to invest monies not immediately required for its purposes in such investments, securities or property as the Directors shall think fit, subject to Charity Law.

Risk management

The trustees have assessed the major risks to which the the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is registered as a company limited by guarantee and is constituted under its Memorandum and Articles of Association.

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

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The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

P Strong E Tate S Ostrowski C Morgan E Coxhead (Appointed 19 January 2022) C Matthews (Appointed 27 January 2022) Mr M Brown (Resigned 19 January 2022) R Thevathasan (Appointed 1 January 2022)

Method of appointment or election of Trustees

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The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum.

New trustees are invited to attend Trustees meetings and are assisted by other members of the Board.

Organisational structure and decision making

The charity is organised with a Board of Trustees. The day to day management of the company are delegated to the Headmistress and Bursar.

Plans for the future

The School expects to continue its educational function and to remain viable.

The school is currently providing financial assistance to a local club in a deprived area of Shrewsbury and plans to continue to do so in the future.

Risk Management

The School has a risk assessment policy in place which is continually updated. It also maintains an insurance policy which covers major risks.

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The trustees' report was approved by the Board of Trustees.

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST WINEFRIDES SCHOOL SHREWSBURY TRUST

| report to the trustees on my examination of the financial statements of St Winefrides Schoo! Shrewsbury Trust (the the trust) for the year ended 31 August 2022.

Responsibilities and basis of report

As the trustees of the the trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the the trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the the trust's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement Since the the trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of The Association of Chartered Certified Accountants, which is one of the listed bodies.

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• 4 accounting records were not kept in respect of the the trust as required by section 386 of the 2006 Act; or 2 __ the financial statements do not accord with those records; or

• 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

• 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

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Rebecca Ellams FCCA

Hall Livesey Brown 68 High Street Tarporley Cheshire

CW6 OAT

Dated: iol5123

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2022

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2022	2022	2022	2021	2021	2021
		Notes	£	£	£	£	£	£
	Income from:
	Donations and
	legacies	3	366	-	366	33,951	-	33,951
	Charitable activities	4	473,026	-	473,026	525,430	-	525,430
	Investments	5	978	10	988	61	90	151
	Total income		474,370	10	474,380	559,442	90	559,532
_/	Expenditure on:
	Raising funds	6	1,840	-	1,840	-	-	-
	Charitable activities	7	687,393	-	687,393	690,340	-	690,340
	Other	12	527	-	527	-	-	-
	Total expenditure		689,760	-	689,760	690,340	-	690,340
	Net (expenditure)/income
	for the year/
	Netmovement in funds		(215,390)	10	(215,380)	(130,898)	90	(130,808)
	Fund balances at 1
	September 2021		1,279,347	17,806	1,297,153	1,410,245	17,716	1,427,964
a,	Fund balances at31 August2022		1,063,957	17,816	1,081,773	1,279,347	17,806	1,297,153

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

BALANCE SHEET

AS AT 31 AUGUST 2022

		2022			2021
	Notes	£		£	£	£
Fixed assets
Tangible assets	14			355,314		363,700
Current assets
Debtors	15	185,513			182,212
Cash at bank and in hand		826,012			983,818
		1,011,525			1,166,030
Creditors: amounts falling due within
oneyear	16	(285,066)			(232,577)
Net current assets			_	726,459		933,453 ON
Total assets less current liabilities			1,081,773			1,297,153
Income funds
Restricted funds	19			17,816		17,806
Unrestricted funds			1,063,957			1,279,347
			1,081,773			1,297,153

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2022.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on ...................0.

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Trustee
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Company Registration No. 02772962

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2022

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|||||||||| |---|---|---|---|---|---|---|---|---| |2022|2021| |Notes|£|£|£|£| |Cash|flows|from|operating|activities| |Cash|(absorbed|by)/generated|from|23| |operations|(143,037)|17,527| |Investing|activities| |Purchase|of tangible|fixed|assets|(15,757)|(530)| |Interest|received|988|151| |Net|cash|used|in|investing|activities|(14,769)|(379)| |~|Net (decrease)/increase|in|cash|and|cash| |equivalents|(157,806)|17,148| |Cash|and|cash|equivalents|at|beginning|of year|983,818|966,670| |Cash|and|cash|equivalents|at end|of year|826,012|983,818|

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

• 1 Accounting policies

Charity information

St Winefrides School Shrewsbury Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Belmont, Shrewsbury, SY1 1TE.

1.1 Accounting convention The financial statements have been prepared in accordance with the the trust's Memorandum and Articles, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The the trust is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

• 1.2. Going concern

At the time of approving the financial statements, the trust had a reasonable expectation that the the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

• 1.4 Incoming resources

Income is recognised when the the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Fees are recognised when the charity is legally entitles to is after any performance conditions have been met, the amounts can be measured reliably, and it is probable that the income will be received. Income is deferred in respect of cash received relating to future fees.

Cash donations are recognised on receipt. Other donations are recognised once the the trust has been notified of the donation, unless performance conditions require deferral of the amouni.

Deferred income is £259,601 (2021 - £209,746) as a result of fee invoices being raised prior to the year end which relate to the following academic year.

• 1.5 Resources expended

All expenditure is accounted for on an accruals basis and related costs aggregated into categories. Costs are allocated between direct charitable costs, support & governance costs and other costs according to the nature of the cost.

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

• 1 Accounting policies

(Continued)

• 1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property & improvements 2% per annum Straight Line method Equipment 25% per annum Reducing Balance method Website 33.3% per annum Straight Line method YH Theproceedsgain andor lossthe c a risingrrying valueon theof thedisposalasset,ofandan isassetrecognisedis determinedin the statementas the differenceof financial betweenactivities.the sale

1.7 [Impairment of fixed assets

At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). .

• 1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the the trust's balance sheet when the the trust becomes party to the contractual provisions of the instrument.

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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

• 1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the the trust's contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and Judgements

In the application of the the trust's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

	Unrestricted	Unrestricted
	funds	funds
	2022	2021
	£	£
Government grant	-	636
Donatedgoodsandservices	366	33,315

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

4 Charitable activities

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||||||||| |---|---|---|---|---|---|---|---| |2022|2021| |£|£| |Fee|income|468,430|504,344| |Uniform|sales|-|13,046| |Income|from|trips|and|tuck|shop|4,596|8,040| |473,026|525,430|

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, 5 Investments /

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|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |funds|funds| |2022|2022|2022|2021| |£|£|£|£| |Interest|receivable|978|10|988| |For the|year|ended|31|August|2021|61|90|154|

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6 Raising funds

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|||||| |---|---|---|---|---| |Unrestricted|Total| |funds| |2022£|2021£| |Fundraising|and|publicity| |Other fundraising|costs|;|1,840|-| |1,840|-|

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

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	Charitable	Charitable	Charitable
	Expenditure	Expenditure
	2022		2021
	£		£
Staff costs	421,419		453,126
Depreciation and impairment	23,616		22,850
Uniform purchases	-		21,959
Cost oftrips and tuck shop purchases	7,123		3,613
Repairs and renewals	91,922		31,335
Schoo! books and educational equipment	7,987		12,025
Light, heatand water Household expenses	11,024 2,388		13,511 1,902	9 ~~
Telephone, postage and stationery	18,715		8,655
General rates	6,430		6,592
Sundry items	354		817
Bad debts	13,984		30,662
	605,562		607,047
Share ofsupport costs (see note 8)	73,235	©	70,251
Share ofgovernance costs (see note 8)	8,596		13,042
	687,393		690,340

8 Support costs

Support costs
	Support	Governance	2022	2021
	costs	costs		me,
	£	£	£	EV
Staffcosts	41,344	-	41,344	42,441
Courses, licences and subscriptions	16,207	-	16,207	15,403
Insurance	14,068	-	14,068	11,426
Advertising	1,616	-	1,616	981
Independent Examination fees	-	2,000	2,000	2,000
Accountancy	-	6,596	6,596	8,766
Legal and professional	-	-	-	2,276
	73,235	8,596	81,831	83,293
Analysed between
Charitableactivities	73,235	8,596	81,831	83,293

Governance costs includes payments to the Independent Examiners of £2,000 (2021£2,000) for examination fees.

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

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||||||||| |---|---|---|---|---|---|---|---| |9|Net|movement|in|funds|2022|2021| |£|£| |Net|movement|in|funds|is|stated|after|charging/(crediting)| |Fees|payable|to the|company's|Independent|Examiner|2,000|2,000| |Depreciation|of owned|tangible|fixed|assets|23,616|22,850| |Loss|on|disposal|of tangible|fixed|assets|527|-|

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10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the the trust during the year.

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11 Employees

Number of employees

The average monthly number of employees during the year was:

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|||||| |---|---|---|---|---| |2022|2021| |Number|Number| |Teaching|26|27| |Administration|of the|school|4|4| |30|31| |Employment|costs|2022|2021| |£|£| |Wages|and|salaries|382,012|414,429| |Social|security|costs|30,110|29,419| |Other pension|costs|50,641|51,719| |462,763|495,567|

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There were no employees whose annual remuneration was £60,000 or more.

12 Other

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|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Total| |funds| |£| |2022|2021| |Net|loss|on|disposal|of tangible|fixed|assets|527|-|

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

13 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

14 Tangible fixed assets

14	Tangible fixed assets
		Freehold property &	Equipment	Equipment	Website	Tota!
		improvements
		£	£	£	£	£
	Cost
	At1September2021	487,946	-	185,274	6,478	679,698
	Additions	-	-	15,757	-	15,757
	Disposals	- ee	- ee	(3,084) _—__	- ee	(3,084) ——
	At 31 August 2022	487,946	-	197,947	6,478	692,371
	Depreciation and impairment
	At1September2021	163,916	-	145,604	6,478	315,998
	Depreciation charged in the year	9,759	-	13,857	-	23,616
	Eliminated in respect of disposals	-	(2,557)	-	-	(2,557)
	At 31 August 2022	173,675	(2,557)	159,461	6,478	337,057
	Carrying amount
	At 31 August 2022	314,271	2,557	38,486	-	355,314
	At 31 August 2021	324,030	-	39,670	-	363,700
15	Debtors				2022	2021	wy,
	Amounts falling due within one year:				£	£
	Fee debtors				176,177	177,753
	Prepayments and accrued income				9,336	4,459
					185,513	182,212

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

16 Creditors: amounts falling due within one year

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		2022	2021
	Notes	£	£
Deferred income	17	259,601	209,747
Trade creditors		7,610	1,178
Other creditors		11,662	14,392
Accruals and deferred income		6,193	7,260
		285,066	232,577
Deferred income
		2022	2021
		£	£
Feesreceivedinadvance		259,601	209,747

17 Deferred income

• 18 Retirement benefit schemes

Defined contribution schemes

The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £50,641 (2021 - £51,719). At the year end £6,029 was owed (2021 - £6,240) in respect of pension contributions.

19 Restricted funds

The school has a restricted fund to provide a bursary fund to assist under privileged children wishing to attend the school.

				Movement		Movement
				in funds		in funds
			Balance at	Incoming	Balance at	Incoming	Balance at
		1	September	resources	1 September	resources	31 August
			2020		2021		2022
			£	£	£	£	£
Restricted	bursary		17,716	90	17,806	10	17,816

Cash at bank includes an account with Santander for the restricted funds of £17,816 (2021 - £17,806). During the year interest of £10 was received on the restricted fund balance.

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

20 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

			Balance at	Movement in	Balance at
		1	September	fund 31 August2022
			2021
			£	£	£
Asset	fund		82,505	-	82,505
			82,505	-	82,505
			eS	SS	==

In an agreement with the Union of the Sisters of Mercy Great Britain, the assets of St Winefride's school were transferred to the company on ‘1st January 1993. The value of the assets at that date was £80,419 and this was credited to the Asset Fund. During 1994 it was recognised that certain interest was being received under reduction of tax. The tax was refunded by the Trusts bankers. £2,086 related to before 1st January 1993 and was credited to the capital fund.

21. ~=Analysis of net assets between funds

	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	2022	2022	2022	2021	2021	2021
	£	£	£	£	£	£
Fund balances at 31
August 2022 are
represented by:
Tangible assets	355,314	-	355,314	363,700	-	363,700
Current assets/(liabilities)	708,643	17,816	726,459	915,647	17,806	933,453
	1,063,957	17,816	1,081,773	1,279,347	17,806	1,297,153
	ll	all	=	——————	——————==	—————_—!	QY

22 ~+Related party transactions

There were no related party transactions during the year (2021 - none).

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

ee	ee	ee	ee
23	Cash generated from operations	2022	2021
		£	£
	Deficit forthe year	(215,380)	(130,808)
	Adjustments for:
	Investment income recognised in statement offinancial activities Loss on disposal oftangible fixed assets	(988) 527	(151) -
	Depreciation and impairment of tangible fixed assets	23,616	22,850
	Movements in working capital:
	(Increase)/decrease in stocks	-	20,838
	(Increase) in debtors Increase/(decrease) in creditors Increase in deferred income	(3,301) 2,635 49,854	(98,102) (976) 203,876
	Cash(absorbedby)/generatedfromoperations	(143,037)	17,527

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