| CONTENTS | PAGE | ||
|---|---|---|---|
| Annual Report ofthe |
Governors | including | |
| the Strategic Report | 1-11 | ||
| Report ofthe Independent Auditors |
12- 15 | ||
| Statement of Financial |
Activities | 16 | |
| Balance Sheet | 17 | ||
| Statement ofcash flows |
18 | ||
| Notes to the Financial | Statements | 19-30 |
| Total | Total | ||||
|---|---|---|---|---|---|
| (Unrestricted) | (Unrestricted) | ||||
| Notes | 2022 | 2021 | |||
| INCOME FROM: | |||||
| Charitable activities |
5,840,241 | 5,193,989 | |||
| Other trading | activities | 30,646 | 11,810 | ||
| Investments | 12,316 | 7,185 | |||
| Voluntary sources |
48,662 | 91,138 | |||
| Total income | 5,931,865 | 5,304,122 | |||
| EXPENDITURE | ON: | ||||
| Charitable Expenditure |
|||||
| Raising funds | 6,462 | 2,083 | |||
| Charitable activities |
5,244,623 | 4,857,763 | |||
| Total expenditure | 5,251,085 | 4,859,846 | |||
| NET LOSSES/ | GAINS ON | (33,325) | 52,095 | ||
| INVESTMENTS | |||||
| NET INCOME | AND | NET | 647,455 | 496,371 | |
| MOVEMENT | |||||
| IN FUNDS | |||||
| RECONCILIATION | OF FUNDS: | ||||
| TOTAL FUNDS | BROUGHT | 8,534,235 | 8,037,864 | ||
| FORWARD | |||||
| TOTAL FUNDS | CARRIED | 9,181,690 | 8,534,235 | ||
| FORWARD |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | |||||||
| FIXED ASSETS | |||||||
| Tangible Assets Investments |
12 13 |
11,239,823 346,011 |
10,923,710 341,951 |
||||
| 11,585,834 | 11,265,661 | ||||||
| CURRENT ASSETS | |||||||
| Debtors Cash at Bank and in |
hand | 14 | 138,310 1,605,143 |
134,023 1,238,788 |
|||
| 1,743,453 | 1,372,811 | ||||||
| CURRENT LIABILITIES | |||||||
| Creditors: Amounts | falling due | ||||||
| within one year | 15 | 1,399,107 | 1,127,376 | ||||
| NET CURRENT ASSETS | 344,346 | 245,435 | |||||
| TOTAL ASSETS LESS | |||||||
| CURRENT LIABILITIES | 11,930,180 | 11,511,096 | |||||
| CREDITORS: Amounts | falling due | ||||||
| after more than one | year | 2,748490 | 2,976,861 | ||||
| TOTAL NET ASSETS | 9,181,690 | 8,534,235 | |||||
| CHARITY FUNDS | |||||||
| Unrestricted funds |
9,181,690 | 8,534,235 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Note | ||||
| Cash flow from operating | activities | 17 | 1 480,720 | 674,479 |
| Interest paid | (102,338) | (102,209) | ||
| Net cash flow from operating activities |
1,378,382 | 572,270 | ||
| Cash flow from investing activities |
||||
| Payments to acquire tangible fixed assets |
(735,590) | (1,467,566) | ||
| Purchase of fixed asset investments | (30,000) | (12,500) | ||
| Interest received | 5,892 | 1,903 | ||
| Dividends received |
6,424 | 5,282 | ||
| Net cash flow from investing activities |
(753,274) | (1,472,881) | ||
| Cash flow from financing | activities | |||
| Net (decrease) in loans |
(251,753) | (189,856) | ||
| (Decrease) / increase in deposits held |
(7,000) | 25,000 | ||
| Net cash flow from financing activities |
(258,753) | (164,856) | ||
| Net increase / (decrease) | in cash and cash | |||
| equivalents | 366,355 | (1,065467) | ||
| Cash and cash equivalents | at 1 September | 1,238,788 | 2,304,255 | |
| 2021 | ||||
| Cash and cash equivalents | at 31 August 2022 | 1,605,143 | 1,238,788 | |
| Cash and cash equivalents | consists of: | |||
| Cash at bank and in hand | 1,605,143 | 1,238,788 | ||
| 1,605,143 | 1,238,788 |
| INCOME FROM CHARITABLE ACTIVITIES | ||
|---|---|---|
| 2022 | 2021 | |
| School fees receivable | ||
| Gross fees Less: Discounts, scholarships and bursaries |
5,537,355 (161,156) |
5,210,881 (236,455) |
| Clubs, school lunches and other activities Registration fees |
5,376,199 442,092 21,950 |
4,974426 202,963 16,600 |
| 5,840,241 | 5,193,989 | |
| INCOME FROM OTHER TRADING ACTIVITIES | ||
| 2022 | 2021 | |
| E | E | |
| Income from fund raising events Hire of facilities Other |
16,268 12,860 1,518 |
11,810 |
| 30,646 | 11,810 | |
| NCOME FROM INVESTMENTS | ||
| 2022 | 2021 | |
| Interest —Deposit and current account Dividend income |
5,892 6,424 |
1,903 5,282 |
| 12,316 | 7,185 | |
| OLUNTARY SOURCES | ||
| 2022 | 2021 | |
| E, | ||
| Insurance claim against repairs costs Job Retention Scheme grants receivable Donations and gifts |
29,692 18,970 |
69,723 21,415 |
| 48,662 | 91,138 |
| nalysis of | cha | rit | able | activity | , governance | and support | costs is as follo | ws: | |
|---|---|---|---|---|---|---|---|---|---|
| Direct | Support | Governance | 2022 | 2021 | |||||
| charitable | Costs | Function | Total | Total | |||||
| activity | |||||||||
| E | |||||||||
| Salary | and | employee | 2,739,623 | 685,346 | 3,424,969 | 3,298,901 | |||
| costs | |||||||||
| Premises | and | overhead | 514,623 | 514,623 | 574,333 | ||||
| costs | |||||||||
| Catering | costs | 248,525 | 248,525 | 155,483 | |||||
| Amortisation | 272,151 | 272,151 | 265,673 | ||||||
| Depreciation | 147,326 | 147,326 | 140,572 | ||||||
| School | activities | and | 149,821 | 149,821 | 71,159 | ||||
| excursions | |||||||||
| Educational | supplies | 76,070 | 76,070 | 29,190 | |||||
| Other costs | 19,419 | 210,003 | 229,422 | 149,517 | |||||
| Finance | costs | including | 106,480 | 106,480 | 121,807 | ||||
| loan interest | |||||||||
| Legal 8, professional | fees | 62,900 | 62,900 | 39,114 | |||||
| Audit remuneration | 12,336 | 12,336 | 12,014 | ||||||
| 2,984,933 | 2,184,454 | 75,236 | 5,244,623 | 4,857,763 |
| et income | for the year is sta | ted a | fter charging: | ||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| E | |||||
| Other expenditure includes: |
|||||
| Fees payable to the Company's | auditor | ||||
| —for the audit ofthe Company's | annual accounts | 11,136 | 10,864 | ||
| —for other | audit work on behalf | ofthe Company | 1,200 | 1,150 | |
| Amortisation | 8,Depreciation | —owned assets | 419477 | 406,245 | |
| Operating | lease rentals — |
Land | and buildings | 70,766 | 74,407 |
| Fittings and equipment | 720 | 720 | |||
| Net (loss) / | gain on investments | (33,325) | 52,095 | ||
| Loss on disposal of tangible | fixed | assets | 2,768 |
| 2022 | 2021 | |
|---|---|---|
| E | ||
| Wages and Salaries Social Security costs Pension costs Other employee benefits |
2,651,356 280,375 433,610 59,628 |
2,549,641 260,695 433,801 54,764 |
| 3,424,969 | 3,298,901 |
| osts) of more than 860,000 in the year was a | g emp s follows: |
oyer penson |
|---|---|---|
| 2022 | 2021 | |
| Number | Number | |
| 260,001 —$70,000 R70,001 —280,000 880,001 —290,000 f.100,001 —f110,000 |
1 1 1 1 |
2 1 |
| e average number of employees and full time eq the year was made up as follows: |
uivalent (FTE) analy |
sed |
by function d |
uring | |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Number | FTE | Number | FTE | ||
| Charitable activities (Teaching and support) Administration |
82 7 |
64 7 |
82 7 |
62 7 |
|
| 89 | 71 | 89 | 69 | ||
| 10. | INTEREST PAYABLE AND SIMILAR CHARGES |
| 2022 | 2021 |
|---|---|
| E | 'E |
| 102,338 | 102,209 |
| Computer | Computer | Equipment, | Land 8, | Short | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equipment | Fixtures | Freehold | Leasehold | ||||||||
| and | |||||||||||
| Fittings | Property | Property | |||||||||
| E | E | E | |||||||||
| Cost | |||||||||||
| As at | 1 September | 2021 | 583,379 | 1,443,075 | 12,512,077 | 636,470 | 15,175,00 | ||||
| Additions Disposals |
( | 43,801 — ) |
153,469 ( — ) |
538,320 ( — ) |
( | — ) |
( | 1 735,590 |
|||
| ) | |||||||||||
| As at | 31 August 2022 | 627,180 | 1,596,544 | 13,050,397 | 636470 | 15,910,59 | |||||
| 1 | |||||||||||
| Depreciation | |||||||||||
| As at 1 September Charge foryear Disposals |
2021 | ( | 465,044 54,685 — ) |
1,183,785 92,641 ( — ) |
2,351,895 245 499 ( — ) |
( | 250,567 26,652 — ) |
4,251,291 419477 ( — ) |
|||
| As at | 31 August 2022 | 519,729 | 1,276 426 | 2,597,394 | 277,219 | 4,670,768 | |||||
| Net BookValue | |||||||||||
| As at | 31 August 2022 | 107,451 | 320,118 | 10,453,003 | 359,251 | 11,239,82 | |||||
| 3 | |||||||||||
| As at | 31 August 2021 | 118,335 | 259,290 | 10,160,182 | 385,903 | 10,923,71 | |||||
| 0 |
| Cost orvaluation | Cost orvaluation | Total investments | |
|---|---|---|---|
| (Listed) | |||
| At 1 September 2021 Re-invested income Change in market value Additions |
341,951 7,385 (33,325) 30,000 |
||
| At 31 August 2022 | 346,011 | ||
| Investments | at fair value | comprise: | |
| At 31 August | |||
| 2022 | |||
| Funds held Cash within |
within a unit investment |
trust portfolio |
341,286 4725 |
| 346,011 |
| EBTORS | ||
|---|---|---|
| 2022 | 2021 | |
| E | ||
| Amounts falling due within one year: |
||
| Fees receivable Other debtors |
5,707 | 33,153 450 |
| Prepayments | 132,603 | 100,420 |
| 138,310 | 134,023 |
| 2022 | 2021 | |
|---|---|---|
| E | E | |
| Amounts falling due within one year: |
||
| Bank loans Taxation and Social Security payable Other Creditors Fees paid in advance Deposits held Accruals |
260,566 67,545 160,691 610,232 28,500 271,573 |
251,948 63,627 145,521 432,129 67,500 166,651 |
| 1,399,107 | 1,127,376 | |
| 2022 | 2021 | |
| E | ||
| Amounts falling due after one year: |
||
| Long term mortgage Deposits held |
2,501,990 246,500 |
2,762,361 214,500 |
| 2,748,490 | 2,976,861 |
| Land | &Buildings | Other | |||
|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||
| E | |||||
| Expiring: | |||||
| Within one year In two to five years In more than five years |
2,273 27,610 2,288,279 |
1,827 35,104 2,349,327 |
1,620 | 2,340 | |
| 2,318,162 | 2,386,258 | 1,620 | 2,340 |
| 2022 | 2021 | ||
|---|---|---|---|
| E | E | ||
| Net income for the year Dividend income Interest receivable interest payable Depreciation charges Increase / (decrease) in debtors Increase / (decrease) in creditors Change in market value ofinvestments/reinvested Loss on disposal offixed assets |
income | 647,455 (6,424) (5,892) 102,338 419477 (4,287) 302,113 25,940 |
496,371 (5,282) (1,903) 102,209 406,245 33,816 (301,603) (58,142) 2,768 |
| Net cash inflow from operating activities |
1,480,720 | 674,479 |