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2023-08-31-accounts
|
Page |
| Reference and administrative details of the |
1 |
| Charity, its Trustees and advisers |
|
| Trustees’ report |
2to 12 |
| Report of the Independent Auditor |
13 to 16 |
| Statement of Financial Activities |
17 |
| Balance Sheet |
18 |
| Cash Flow Statement |
19 |
| Notes to the Financial Statements |
20 to 31 |
|
|
2023 |
2022 |
|
|
Total |
Total |
|
|
Unrestricted |
Unrestricted |
|
|
funds |
funds |
|
Note |
£ |
£ |
| INCOME FROM: |
|
|
|
| Charitable activities |
|
|
|
| School fees |
2 |
4,625,431 |
4,252,653 |
| Investment income |
3 |
25,285 |
16,769 |
| Other income |
4 |
783,695 |
579,956 |
| Total incoming resources |
|
5,434,411 |
4,849,378 |
| EXPENDITURE ON: |
|
|
|
| Charitable activities |
|
|
|
| Education |
5 |
5,703,840 |
5.157,966 |
| Total expenditure |
|
5,703,840 |
5,157,966 |
| NET (OUTGOING)/INCOMING |
|
(269,429) |
(308,588) |
| RESOURCES BEFORE |
|
|
|
| GAINS AND LOSSES ON INVESTMENTS |
|
|
|
| Net (losses)! gains on investments |
11 |
(48,398) |
5,077 |
| NET MOVEMENT IN FUNDS |
|
(317,827) |
(303,511) |
| RECONCILIATION OF FUNDS |
|
|
|
| Total funds brought forward |
|
3,297,724 |
3,601,235 |
| TOTAL FUNDS CARRIED FORWARD |
|
|
3.297724 |
| The notes on pages 23 to 34 form part of these financial statements |
|
|
|
|
|
2023 |
2022 |
|
Note |
£ |
£ |
| FIXED ASSETS |
|
|
|
| Tangible assets |
10 |
2,995,795 |
2,998846 |
| Fixed asset investments |
11 |
531,567 |
769.449 |
|
|
3,527,462 |
3,768295 |
| CURRENT ASSETS |
|
|
|
| Debtors |
12 |
167,517 |
108,910 |
| Cash at bank and in hand |
|
(137,043) |
229,475 |
|
|
30,474 |
336,385 |
| CREDITORS |
|
|
|
| Amounts falling due within one year |
13 |
(578,038) |
(806,956) |
| NET CURRENT LIABILITIES |
|
(547,565) |
(470571) |
| NET ASSETS |
|
2.979.897 |
3.297724 |
| TOTAL UNRESTRICTED FUNDS |
17 |
2.979.897 |
3.297.724 |
|
Note |
2023 |
|
2022 |
|
|
|
£ |
£ |
£ |
£ |
| Net cash inflow from operations |
|
|
|
|
|
| Net cash provided by operating |
20 |
|
|
|
|
| activities |
|
|
(114,472) |
|
23,121 |
| Cash flows from investing |
|
|
|
|
|
| activities |
|
|
|
|
|
| Investment income: dividends |
|
25,265 |
|
16,769 |
|
| Purchase of tangible fixed assets |
|
(466,716) |
|
(493,572) |
|
| Purchase of investments |
|
(540,281) |
|
(17,421) |
|
| Disposal of investment |
|
527,862 |
|
1,873 |
|
| Drawdown of investment |
|
201,803 |
|
|
|
|
|
|
(252,074) |
|
(492,351) |
| Change in cash and cash |
|
|
(366,518) |
|
(469,230) |
| equivalents in the reporting |
|
|
|
|
|
| period |
|
|
|
|
|
| Cash and cash equivalents at the |
|
|
229,475 |
|
698,705 |
| beginning of the period |
|
|
|
|
|
| Cash and cash equivalents at the |
21 |
|
|
|
|
| end of the period |
|
|
(137,043) |
|
229,475 |
| Fees receivable consist of: |
|
|
|
2023 |
2022 |
|
£ |
£ |
| Gross Fees |
5,428,508 |
4,844,689 |
| Less: bursaries, grants and allowances |
(803.077) |
(592,036) |
| Total School fees |
4.625.431 |
=ggz |
| INVESTMENT INCOME |
|
|
|
2023 |
2022 |
|
£ |
£ |
| Investment income |
20,550 |
15,548 |
| Bank interest receivable |
4,735 |
1,221 |
|
25,285 |
16,769 |
| OTHER INCOME |
|
|
|
2023 |
2022 |
|
£ |
£ |
| Extra-curricular activities |
250,278 |
177,319 |
| Donations |
23,165 |
19,870 |
| Grant income |
412,892 |
252,841 |
| Lettings & Hire income |
3,123 |
6,201 |
| Trip Income |
94,237 |
123,725 |
|
|
579.956 |
.
ANALYSIS OF EXPEN |
DITURE |
|
|
|
|
|
Staff Costs |
Depreciation |
Other costs |
Total |
Total |
|
|
|
|
2023 |
2022 |
| Charitable expenditure |
£ |
£ |
£ |
£ |
£ |
| Education |
3,632,041 |
469,767 |
1,546,285 |
5,648,093 |
5,071,475 |
| Governance costs |
- |
- |
55,747 |
55,747 |
86,491 |
|
3,632,041 |
469,767 |
1,602,032 |
5,703,840 |
5,157,966 |
| 6. |
GOVERNANCE COSTS |
GOVERNANCE COSTS |
|
|
|
|
|
|
|
2023 |
2022 |
|
|
|
|
£ |
£ |
|
Auditors! remuneration |
|
|
15,100 |
13,000 |
|
Professional |
fees |
|
40.646 |
73,491 |
|
|
|
|
55,746 |
86,491 |
| 7. |
NET (OUTGOING)/INCOMING |
|
RESOURCES |
|
|
|
Net (outgoing)/incoming resources are stated after charging: |
|
|
|
|
|
|
|
|
2023 |
2022 |
|
|
|
|
£ |
£ |
|
Depreciation |
- owned assets |
|
469,767 |
431,977 |
| 8. |
AUDITORS REMUNERATION |
|
|
|
|
|
|
|
|
2023 |
2022 |
|
|
|
|
£ |
£ |
|
Fees payable |
forthe audit of the annual accounts |
|
12,600 |
10,900 |
|
Fees payable |
in respect of Teachers Pension Scheme |
|
1,050 |
950 |
|
All other non-audit services not included above |
|
|
1,250 |
1,150 |
|
|
2023 |
2022 |
|
|
£ |
£ |
| Wages and salaries |
|
2878,752 |
2574978 |
| Social security costs |
|
283,659 |
267,836 |
| Other pension costs |
|
469,630 |
440,926 |
|
|
3,632,041 |
3,283,740 |
| Aggregate employee benefits of key management |
personnel |
827.383 |
697.688 |
| The average monthly number of employees during |
the yearwas as follows: |
|
|
|
|
2023 |
2022 |
| Teaching and administration |
|
jj5 |
|
| The number of higher paid employees in bands of: |
- |
|
|
|
|
2023 |
2022 |
| £60,000 to £70,000 |
|
2 |
1 |
| £70,000 to £80,000 |
|
1 |
- |
| £80000 to £90,000 |
|
- |
1 |
| £90000 to £100,000 |
|
1 |
|
|
|
|
Freehold |
Freehold |
|
Fixtures and |
Computer |
|
|
|
Property |
|
- |
|
Fittings |
Equipment |
Totals |
|
|
Land and |
|
|
|
£ |
£ |
£ |
|
|
|
Building |
|
|
|
|
|
|
|
|
|
£ |
|
|
|
|
| COST |
|
|
|
|
|
|
|
|
| At 1 September |
2022 |
3,749,100 |
|
|
|
1,898, |
517,019 |
6,164,576 |
|
|
|
|
|
457 |
|
|
|
| Additions |
|
|
|
|
|
360,483 |
106,233 |
466,716 |
| Disposals |
|
|
|
|
|
(3,933) |
(29,311) |
(33,244) |
| At 31 August 2023 |
|
3,749,100 |
|
|
|
2,255,007 |
593,941 |
6,597,707 |
| DEPRECIATION |
|
|
|
|
|
|
|
|
At
1 September 2022 |
|
2,141,760 |
|
|
|
683,088 |
340,882 |
3,165,730 |
| Charge for the year |
|
|
91,939 |
|
|
262,710 |
115,118 |
469,767 |
| Disposals |
|
|
|
- |
|
(3,933) |
(29,311) |
(33,244) |
| At 31 August 2023 |
|
2,233,699 |
|
|
|
941,864 |
426,689 |
3,602,252 |
| NET BOOK VALUE |
|
|
|
|
|
|
|
|
| At 31 August 2023 |
|
1,515,401 |
|
|
|
1,313,142 |
167,252 |
2,995,795 |
| At 31 August 2022 |
|
1,607,340 |
|
|
|
1215,369 |
176!137 |
2.998.846 |
| FIXED ASSET INVESTMENTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrestricted |
Total |
Total |
|
|
|
|
|
|
Funds |
2023 |
2022 |
|
|
|
|
|
|
£ |
£ |
£ |
| Market Value @ |
1 September |
|
2022 |
|
|
769,449 |
769,449 |
748,824 |
| Additions |
|
|
|
|
|
540,281 |
540,281 |
17,421 |
| Disposals |
|
|
|
|
|
(527,862) |
(527,862) |
(1,873) |
| Revaluations |
|
|
|
|
|
(48,398) |
(48,398) |
5,077 |
| Drawdown |
|
|
|
|
|
(201,803) |
(201,803) |
0 |
| Market Value @ |
31 August |
2023 |
|
|
|
531,667 |
531,667 |
769,449 |
| Listed on UK Stock exchange |
|
|
|
|
|
531,033 |
531,033 |
768,804 |
| Cash deposits |
|
|
|
|
|
634 |
634 |
645 |
|
|
|
|
|
|
531,667 |
531,667 |
769,449 |
| 12. |
DEBTORS |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Trade debtors |
58,431 |
24,414 |
|
Other debtors |
14,064 |
12,696 |
|
Prepayments and accrued income |
95,022 |
69,600 |
|
|
167,517 |
106,910 |
| 13. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Trade creditors |
|
338,213 |
|
Social security and othertaxes |
141,080 |
63,797 |
|
Other creditors |
153,208 |
243,656 |
|
Accruals and deferred income |
283,750 |
161,290 |
|
|
578,038 |
806,956 |
|
Deferred income |
|
|
|
|
|
£ |
|
Deferred income at 1 September2022 |
|
71,476 |
|
Resources deferred during the year |
|
208,946 |
|
Amounts released from previous years |
|
(71,476) |
|
Deferred income at 31 August 2023 |
|
208,946 |
|
2023 |
2022 |
|
£ |
£ |
| Less than one year |
- |
72,990 |
| Between two and five years |
|
|
|
|
72 990 |
| Statement of funds |
|
|
|
|
|
|
|
At 1 |
September |
|
|
|
At 31 |
|
|
2022 |
Incoming |
Resources |
Losses on |
August |
|
|
|
resources |
expended investment |
|
2023 |
|
|
|
|
|
5 |
|
|
|
£ |
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
|
|
| General fund |
|
3,297,724 |
5,434,411 |
(5,703840) |
(48398) |
2,979,897 |
| Total funds |
|
3,297,724 |
5,434,411 |
(5,703,840) |
(48,398) |
2,979,897 |
|
|
At 1 |
|
|
|
At 31 |
|
September |
|
Incoming |
Resources |
Gains on |
August |
|
|
2021 |
resources |
expended investments |
|
2022 |
|
|
£ |
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
|
|
| General fund |
|
3,601,235 |
4,849,378 |
(5)157,966) |
5,077 |
3,297,724 |
| Total funds |
|
3,601,235 |
4,849,378 |
(5,157,966) |
5,077 |
3,297,724 |
| Analysis of net assets between |
funds |
— current year |
|
|
|
|
|
Fixed assets |
|
Net current |
Long term |
Total |
|
|
|
|
liabilities |
liabilities |
2023 |
|
|
|
£ |
£ |
£ |
£ |
|
| Unrestricted funds |
3.527,462 |
|
(547.565) |
|
2.979.897 |
|
| Analysis of net assets between |
funds |
— prior year |
|
|
|
|
|
Fixed assets |
|
Net current |
Long term |
Total |
|
|
|
|
liabilities |
liabilities |
2022 |
|
|
|
£ |
£ |
£ |
£ |
|
| Unrestricted funds |
3,768,295 |
|
(470,571) |
|
3,297)724 |
|
|
|
2023 |
2022 |
|
|
£ |
£ |
| Financial |
assets measured at amortised cost (a) |
72,495 |
266585 |
| Financial |
assets measured at fair value (b) |
531,667 |
769,449 |
| Financial |
liabilities measured at amortised cost (c) |
574,001 |
743,159 |
|
2023 |
2022 |
|
£ |
£ |
| Net (outgoing)f incoming resources |
(317,827) |
(303,511) |
| Depreciation charges |
469,767 |
431,977 |
| Losses! (gains) on investments |
48,398 |
(5,077) |
| Dividends, interest and rents from investments |
(25,285) |
(16,769) |
| Decrease / (increase) in debtors |
(60,607) |
13,025 |
| (lncrease)ldecrease in creditors |
(228,918) |
(96,524) |
| Net cash inflow from operating activities |
(114,472) |
23.121 |
| ANALYSIS OF CASH AND CASH EQUIVALENTS |
|
|
|
2023 |
2022 |
|
£ |
£ |
| Cash in hand* |
(137,043) |
229,475 |
| Overdraft facility repayable on demand |
|
|
|
(137,043) |
229,475 |
|
|
At 1 September |
|
At 31 August |
|
|
2022 |
Cashflow |
2023 |
|
|
£ |
£ |
£ |
| Cash |
in hand, at bank |
229,475 |
(366,518) |
(137,043) |
| Bank |
overdraft |
|
|
|
| Total |
|
229,475 |
(366,518) |
(137,043) |