2020-08-31-accounts - Tudor Hall School

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8 January 2021

		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	funds	funds
	Note	2020 E	2020 g	2020t	2020t	2019t
lncomefrom:
Donations and grants	4	539,313	64,734		604,047	269,170
Charitableactivities	5	10,913,839			10,913,839	11,728,233
Othertradingactivities		5,602			5,602	206,346
lnvestments	6	29,670			29,670	31,049
Totalincome		11,488,424	64,734		11,553,158	12,234,798
Expenditure on:
Raisingfunds:	7
Development office		83,001			83,001	96,182
Trading costs		5,602			5,602	189,105
Charitableactivities	I	11,700,329	9,766		11,710,095	11,832,494
Totalexpenditure		11,788,932	9,766		1 1,798,698	12,117,791
Netgainson
investments		14,620		17,754	32,374	21,937
Net (expenditure)/income		(285,888)	54,968	17,754	(213,166)138,954
Transfersbetween
funds	21	56,114	(56,114)
Netmovementin funds		(229,7741	(1,146)	17,754	(213,166)138,954
Reconciliationof
funds:
Totalfunds brought
forward		16,042,247	7,411	377,400	16,427,058	16,288,104
Netmovementinfunds		(229,7741	(1,146)	17,754	(213,166)	138,954
Totalfundscarried forward		15,812,473	6,265	395,154	16,213,992	16,427,059

	Note		2020 e		2019t
Fixedassets
Tangible assets	14		20,146,069		20,969,606
lnvestments	15		737,628		695,222
			20,993,696		21,664,828
Current assets
Stocks	16	37,531		41,761
Debtors	17	458,597		496,945
Cash atbank and inhand		1,559,995		1,371,093
		2,056,123		1,909,799
Creditors:amounts fallingdue within one year	1B	(2,407,038)		(4,269,657)
Netcurrentliabilities			(350,915)		(2,359,959)
Total assets lesscurrent liabilities			20,532,791		19,304,970
Creditors:amounts fallingdue after more
than one year	19		(4,318,889)		(2,877,912)
Totalnetassets			16,213,892		16,427,058
Charityfunds
Endowmentfunds	21		395,154		377,400
Restrictedfunds	21		6,265		7,411
Unrestrictedfunds	21		15,812,473		16,042,247
Totalfunds			16,213,892		16,427,058

	Note	2020 t		2019f
Fixed assets
Tangibleassets	14	20,146,069	20,969,606
lnvestments	15	737,629		695,222
		20,883,697	21,664,828
Current assets
Stocks	16	37,531	41,761
Debtors	17	466,475	524,169
Cashatbankand in hand		1,534,584	1,339,239
		2,038,590	1,905,169
Creditors:amounts fallingdue withinone year	18	(2,389,506)	(4,265,027)
Netcurrent liabilities		(350,916)	(2,359,858)
Total assets lesscurrent liabilities		20,532,781	19,304,970
Creditors:amountsfalling due aftermore
thanone year	19	(4,318,889)	(2,877,912)
Total net assets		16,213,892	16,427,059
Charityfunds
Endowmentfunds	21	395,154		377,400
Restrictedfunds	21	6,265		7,411
Unrestrictedfunds	21	15,812,473	16,042,247
Totalfunds		16,213,892	16,427,059
The financial statements were approvedand	authorised	for issueby the	p(yn."^l	e-2o2'a
andsignedontheir behalfby:
Aa-ta"UCtAi&),/. lltfSD.J. Chism, ChairmanofGovernors		MrJ.A. Elli	ofFinance	&Resources
		Gommittee

		2020	2019
	Note	e	t,
Cashflowsfrom operatingactivities
Net cash(usedin)/providedbyoperatingactivities	23	(430,913)	1,420,088
Cashflows from investing activities
Dividendsand interestfrom investments		29,670	31,049
Purchaseof tangiblefixed assets		(5,218)	(4,716,390)
Dividendsreinvested			(7,151)
Movementin investmentcash account		(10,032)	(2,649)
Netcash provided by/(used in)investing activities		14,420	(4,695,141)
Cashflowsfromfinancing activities
Cashinflowsfromnew borrowing		1,800,000	2,000,000
Loans redeemedintheyear		(1,066,666)	(300,000)
Finance costspaid		(127,939)	(114,794)
Netcash providedbyfinancing activities		605,395	1,585,206
Change in cashandcashequivalentsinthe year		188,902	(1,689,847)
Cashandcashequivalents atthe beginningof the year		1,371,093	3,060,940
Gashand cash equivalentsatthe end of theyear	24	1,559,995	1,371,093
The notes onpages 25to47form partofthesefinancialstatements

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2020t	2020 E	2020t	2019 f,
Donations		25,530	64,734	90,264	269,170
Government	grants	513,783		513,783
		539,313	64,734	604,047	269,170
Total2019			269,170	269,170

lncome from charitableactivities
	2020I	2019t
Gross fees receivable
Grossfeesreceivable	12,044,187	11,736,274
Total concessions	(2,006,874)	(1,182,636)
	10,037,313	10,553,639
Disbursements and extras
Disbursements andextras	800,435	1,081,711
Registrationfees	36,894	37,123
Schoolshop income	14,404	15,468
Educational lettingincome	24,793	40,293
	10,913,839	11,728,233

	Unrestricted	Total	Total
	funds	funds	funds
	2020 E	2020t	2019t
Dividendsreceivable	22,288	22,288	21,675
lnterestreceivable	7,392	7,392	9,374
	29,670	29,670	31,049
Total2019	31,049	31,049

Development office expenditure
	2020 t	2019 E
Staff costs	74,734	74,039
Non-staffcosts	8,267	22,144
	83,001	96,182

	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	2020I	2020 e	2020!	2019 f
Charitableactivities	11,700,329	9,766	11,710,095	11,832,494
Total2019	11,830,780	1,714	11,932,494

	Total	Total
	funds	funds
	2020 e	2019t
Staffcosts	7,643,391	7,122,268
Depreciation	828,756	703,807
Othereducationalcosts	3,109,153	3,887,394
Cost ofeducationallettings	866	4,231
Financecostspaid	127,939	114,794
	11,710,095	11,932,494

	2020	2019
	t	f,
Establishment costs	1,679,453	2,093,928
Administration costs	475,870	516,809
Governance costs	20,075	24,060
	2,175,398	2,634,797
Governancecosts
	2020 f	2019f
Auditand accountancy	20,075	24,060

Auditor'sremuneration
	2020 E	2019t
Fees payable to theSchool'sauditor for the audit ofthe School'sannual accounts	15,100	14,950
Fees payable to theSchool's auditorin respect of
Alltaxationadvisoryservicesnot included above	750	750
Allnon-auditservicesnotincludedabove	4,225	3,975

	Group	Group	School	School
	2020	2019	2020	2019
	e	f	E	t,
Wagesand salaries	6,152,739	5,949,533	61152,739	5,949,533
Socialsecurity costs	582,197	562,353	582,197	562,353
Contributionto definedcontributionpension schemes	983,179	684,420 983,179		684,420
	7,718,115	7,196,306	7,719,115	7,196,306

	Group	Group
	2020	2019
	No.	No.
Teachers	104	105
Other staff	134	137
	238	242

	Group	Group
	2020	2019
	No.	No.
lnthebandf60,001-t70,000	4	1
lnthebandt70,001-t80,000	1	2
lnthebandt80,001-t90,001	1
lnthebandt180,001-t190,000		1
lntheband e190,001 -f200,000	1

	Freehold
	land and property t	MotorFixturesand vehiclesfittings 8t		Computer equipment E	Total E
Cost
At1September2019	25,978,794	54,122	2,046,312	1,646,900	29,726,118
Additions	(90,182)		78,506	16,894	5,218
Disposals			(119,256)	(1,012,003)	(1,131,259)
At 31Augusl2020	25,888,602	54,122	2,005,562651,791		29,600,077
Depreciation
At1September2019	5,851,218	28,053	1,531,965	1,345,276	9,756,512
Charge fortheyear	527,592	7,275	152,669	141,220	828,756
Ondisposals			(119,256)	(1,012,003)	(1,131,259)
At 31Augusl2O2O	6,378,810	35,328	1,565,378474,493		9,454,009
Netbook value
At31Augusl2020	19,509,792	18,794	440,194177,299		20,146,069
At31August2019	20,127,566	26,069	514,347 301,624		20,969,606

	Listed
	investments
Group	e
Costor valuation
At1September2019	695,222
Net investmentgains	32,374
Movement incashheld	10,032
At31Augusl2O2O	737,628

	lnvestments
School	in subsidiaryListed companiesinvestments et		Total s
Costor valuation
At1September2019		695,222	695,222
lnvestmentinsubsidiary	1		1
Netinvestmentgains		32,374	32,374
Movementincashheld		10,032	10,032
At31Augusl2O2O	1	737,628	737,629

The followingwasasubsidiaryundertaking oftheSchool	The followingwasasubsidiaryundertaking oftheSchool
Name CompanyRegistered office orprincipal numberplaceofbusiness		Classof shares	Holding
TudorHallSchool Enterprises07703410TudorHall School,Wykham Limited Park,Banbury, Oxfordshire, OX16gUR		Ordinary	100%
Thefinancial resultsofthesubsidiary for the yearwere:
Name lncomef	Expenditure E		Netassets e
TudorHallSchool EnterprisesLimited 5,602		(5,602)	1

	Group	Group	School	School
	2020 s	2019 2	2020t	2019t
School supplies	37,531	41,761	37,531	41,761

	Group	Group	School	School
	2020 e	2019 f	2020t	2019 f
Duewithinoneyear
Trade debtors	170,804	265,624	170,779	242,385
Amountsowedbygroup undertakings			7,904	50,463
Other debtors	1,997	527	1,996	527
Prepayments andaccruedincome	285,796	230,794	285,796	230,794
	458,597	496,945	466,475	524,169

	Group	Group	School	School
	2020t	2019 E	2020I	2019 2
Bankloans	299,999	1,000,000	299,999	1,000,000
Deposits	102,063	79,455	102,063	79,455
Trade creditors	174,249	309,028	174,249	309,028
Othertaxationand socialsecurity	151,322	161,839	151,322	161,839
Other creditors	191,360	143,666	191,360	143,666
Accrualsanddeferredincome	1,488,045	2,575,669	1,470,513	2,571,039
	2,407,038	4,269,657	2,389,506	4,265,027
	Group	Group	School	School
	2020 E	2019 f	2020 E	2019f
Deferred income at1September2019	1,442,922	1,691,947	1,442,822	1,691,847
Resources deferredduringtheyear	1,059,663	1,398,930	1,059,663	1,398,930
Amountsreleasedfromprevious periods	(1,312,009)	(1,647,955)	(1,312,009)	(1,647,955)
	1,190,476	1,442,822	1,190,476	1,442,822

	Group	Group	School	School
	2020t	2019f	2020 E	2019f
Bankloans	3,733,335	2,300,000	3,733,335	2,300,000
Deposits	585,554	577,912	585,554	577,912
	4,318,889	2,877,912	4,318,889	2,977,912

lncludedwithin theaboveareamountsf	alling due asfollows
	Group Group School	School
	2020t 2019t 2020 E	2019 f,
Betweenone andtwoyears
Bankloans	599,999200,000599,999	200,000
Betweentwoandfiveyears
Bank loans	899,9991,100,000899,9991,100,000
Overfiveyears
Bankloans	2,233,3371,000,0002,233,3371,000,000

	Group	Group	School	School
	2020 E	2019f	2020t	2019t
Financialassets
Financialassets measuredatfairvalue throughincome andexpenditure	737,628	695,222	737,628	695,222

Statement offun	ds-currentyea	r
	Balanceat1						Balanceat
	September				Transfers	Gains/	31August
	2019t	lncomeExpenditure 8t			in/out e	(Losses) E	2020t
Unrestricted
funds
TudorHall	16,041,116	11,470,567	(11,771,075)		57,245	14,620	15,812,473
TheFriends	-	12,255		(12,255\|
CarrdusFOCS	1,131				(1,131)
TudorHall
School
Enterprises Limited		5,602		(5,602)
	16,042,247	11,488,424	(11,788,932)56,114			14,620	15,912,473
Endowment
funds
TheFriends	377,400					17,754395,154
Restricted
funds
WilliamMorris	4,186	1,475		(524)			5,137
Stained Glass
Window	3,225			(4,662)	1,437
TeachingCentre		57,551			(57,551)
Junior Maths
Club		583		(345)			238
Carrdus
Technology		4,375		(4,235)			140
PianoFund		750					750
	7,411	64,734		(9,766)(56,114)			6,265
Total offunds	16,427,058	11,553,158	(11,798,698)			32,374	16,213,892

Statement offunds(continued)	Statement offunds(continued)
Statement offunds-prioryear
	Balanceal							Balance at
	1September 201If		lncome t,	Expenditure t		Transfers in/oul t.	Gainst (Losses,) E	31August 2019 t,
Unrestricted
funds
TudorHall	15,633,190	1	1,747,407	(11,897,846)		548,429	9,936	16,041 ,116
TheFriends	-		11,975		(11,875)
CarrdusFOCS	1,131							1,131
TudorHall
School
Enterprises Limited			206,346		(206,346)
	15,634,321	1	1,965,628	(12,116,067)		548,429	9,936	16,042,247
Endowment
funds
TheFriends	365,399						12,001377,400
Restricted
funds
William Morris			5,900		(1,714)			4,196
StainedGlass
Window			3,225					3,225
Teaching Centre	288,384		260,045			(548,429)
	288,384		269,170		(1,714)	(548,429)		7,411
Total offunds	16,288,104	12,234,799		(12,117,781)			21,937	16,427,058

Analysisofnetassets betweenfunds-	current period
	Unrestricted	Restricted	Endowment	Total
	funds	funds	funds	funds
	2020 e	2020I	2020 g	2020t
Tangiblefixed assets	20,146,068			20,146,068
Fixedasset investments	342,474		395,154	737,628
Currentassets	2,049,858	6,265		2,056,123
Creditors due within one year	(2,407,038)			(2,407,038)
Creditorsduein morethan oneyear	(4,318,889)			(4,318,889)
Total	15,812,473	6,265395,154		16,213,892

Analysisofnetassetsbetweenfunds-	priorperiod
	Unrestricted	Restricted	Endowmenl	Total
	funds	funds	funds	funds
	2019t	2019t	2019 f.	2019 t.
Tangible fixedassets	20,969,606			20,969,606
Fixed assetinvestments	317,822		377,400	695,222
Currentassets	1,902,392	7,411		1,909,903
Creditorsdue within one year	(4,269,657',)			(4,269,657)
Creditorsdue in more than one year	(2,877,912)			(2,877,912)
Total	16,042,251	7,411377,400		16,427,062

Reconciliation of net movement infunds tonetcashflow fromoperating	activities
	Group	Group
	2020 E	2019f
Net(expenditure)/incomefortheperiodaspertheStatementofFinancial Activities	(213,166)138,954
Adjustments for:
Depreciationcharges	828,756	703,809
Gains oninvestments	(32,3741	(21,937)
lnvestmentincome	(29,670)	(31,049)
Decreaseinstocks	4,230	4,104
Decreaseindebtors	38,348	59,279
lncrease/(decrease)increditors	(1,154,976)	452,134
Financecosts	127,939	114,794
Netcash (used in)/provided by operatingactivities	(430,913)1,420,088

		Ar1 September		Other non- cash	At31
		2019	Gashflowst	changesAugust2020 s8
		E
Cash	atbank and inhand	1,371,093	188,902		1,559,995
Debt	duewithin1year	(1,000,000)	900,001	(200,000)	(299,999)
Debt	due after1year	(2,300,000)	(1,633,335)	200,000	(3,733,335)
		(1,928,907)(544,4321			(2,473,339)

At31Augusl2020the GroupandtheSchool hadcommitment undernon-cancellable operatingleases asfollows:	s tomakefuture minimum lease	payments
	Group	Group
	2020 s	2019t
Not laterthan1year	81,498	69,256
Laterthan1yearand notlater than 5 years	43,812	74,502
Later than 5 years	1,440
	126,750	143,758