REGISTERED COMPANY NUMBER: 03146901 (England and Wales)
REGISTERED CHARITY NUMBER: 1056683
Report of the Trustees and
Audited Financial Statements for the Year Ended 31 August 2020
for
Mylnhurst Limited
C J Woodhead & Co Limited
158 Hemper Lane
Greenhill
Sheffield
South Yorkshire
S8 7FE
Mylnhurst Limited
Contents of the Financial Statements
for the Year Ended 31 August 2020
Page
Report of the Trustees 1to5
Report of the Independent Auditors 6to9
Statement of Financial Activities 10
Balance Sheet 11to12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14to15
Notes to the Financial Statements 16to27
Detailed Statement of Financial Activities 28to30
Mylnhurst Limited
Report of the Trustees for the Year Ended 31 August 2020
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct 2006,
presenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31August2020.ThetrusteeshaveadoptedtheprovisionsofAccountingandReporting by
Charities:Statementof RecommendedPracticeapplicableto charitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and activities
The objectives and activities of the charity are :
-
of education generally and in particular the
-
Woodholm Road, Sheffield, and to carry on a school through partnership within a challenging and
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arises from fees received for educational other than key worker children, were unable with the provision of learning packs. The
-
In recognition of these factors, the Board of pupils resulting in a one off payment in August Articles of association, the charity has the
Topromotetheadvancementofeducationgenerallyandin particulartheeducationand training
of pupilsof MylnhurstSchool,WoodholmRoad, Sheffield,and to carry on a schoolthat maximises
thepotentialofourChildrenthroughpartnershipwithinachallengingandsupportive Christian
community.
STRATEGIC REPORT
Achievement and performance
Themainsourceofincomearisesfromfeesreceivedforeducationalservicesprovidedby the
school.
Fora numberofmonthspupils,otherthankeyworkerchildren,wereunabletoattendat school
andteachingtookplaceremotelywiththeprovisionoflearningpacks.TheBoardof Directors
acknowledged the difficulties faced by many parents .
andcarersduringthisperiod.Inrecognitionofthesefactors,theBoardofDirectorsagreedto a
reductioninfeesforallschoolpupilsresultingina oneoffpaymentinAugust2020inthe region
on £95,000. Therefore, the profit figure this year is less than in recent years.
Financial review
Investment policy and objectives
UndertheMemorandumandArticlesofassociation,thecharityhasthepowertoinvestin any
way the trustee's wish.
Thetrusteesoperatea businessinstantaccessaccount,whichinteractswiththecurrent account
whilst producing an interest return on the surplus funds.
Reserves policy
Thetrusteeshaveestablishedthelevelofreservesthatthecharityoughttohave.Reserves are
needed to bridge the funding gaps should there be a rapid short fall in pupil admissions.
Thetrusteesconsiderthatthelevelofreservesrequiredexcludingfixedassetstobe £100,000.
The actual level of reserves at 31 August 2020 was £1,367,450 (2019 - £1,345,919).
Page 1
Mylnhurst Limited
Report of the Trustees for the Year Ended 31 August 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
MylnhurstLimitedisa companylimitedbyguaranteegovernedbyitsMemorandumand Articles
ofAssociationdated16January1996.ItisregisteredasaCharitywiththeCharity Commission.
MembershipofthecompanymustbeapprovedbytheBoardofTrustees.Everyperson who
wishestobecomea membershalldelivertothecompanyanapplicationformembershipin such
formastheboardrequireexecutedbyhim.Everymemberundertakestocontributean amount
(not exceeding £1) in the event of the charity winding up.
Recruitment and appointment of new trustees
AssetoutintheArticlesofAssociationthemembersoftheboardshallnotbesubjectto any
maximum,butshallnotbelessthanthreemembers.Nopersonwhoisnotamemberof the
company shall in any circumstances be eligible to hold office as a member of the council.
At theAnnualGeneralMeetingone-thirdof themembersof theCouncilor if theirnumberis not
a multiple of three then the number nearest to one-third shall retire from office.
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Association the members of the board shall not
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less than three members. No person who is not one-third of the members of the Council legal obligations under charity and company
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of association the committee and decision with the Trustees of the Institute of
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of the Charity's operational premises and are set up to operate the McAuley Building known is limited by guarantee. It has been agreed
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the cashflow of Mylnhurst Sports Education
Organisational structure
The Board of Trustees administers the Charity. The Board meets monthly.
Induction and training of new trustees
New trusteesare briefedon theirlegalobligationsundercharityand companylaw, the content of
theMemorandumandarticlesofassociationthecommitteeanddecisionmakingprocess, the
business plan and recent financial performance of the charity.
Related parties
TheCharityhasacloserelationshipwiththeTrusteesoftheInstituteofOurLadyOfMercy, a
charitywhoaretheLandlordsoftheCharity'soperationalpremisesandarekeentosupport the
Charity's mission statement. As a consequence only a nominal rent is payable by the Charity.
A seperatecompanyhas beenset up to operatethe McAuleyBuildingknownas Mylnhurst Sports
Education& LeisureLtd. This Companyis limitedby guarantee.It has been agreedby the Trustees
thatMylnhurstLtdwillassistthecashflowofMylnhurstSportsEducation&LeisureLtd by
provision of an interest free loan when required.
All moniesare to be repaidin fullto MylnhurstLtdas and whenthebusinessof Mylnhurst Sports
Education & Leisure Ltd allows.
TheCompanyhasformedawhollyownedsubsidiarycompanyMylnhurstMerlinsLtd. This
Company is a trading company providing sporting and recreational services to the community.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03146901 (England and Wales)
Registered Charity number
1056683
Page 2
Mylnhurst Limited
Report of the Trustees
for the Year Ended 31 August 2020
Registered office
Button Hill
Woodholm Road
Ecclesall
Sheffield
South Yorkshire
S11 9HJ
Trustees
Mrs A C Raftery
Mrs M M Bradshaw
Mrs C Thompson
J M Saunders
Company Secretary
Mrs A C Raftery
Auditors
C J Woodhead & Co Limited
158 Hemper Lane
Greenhill
Sheffield
South Yorkshire
S8 7FE
Bankers
Natwest
Millhouses, Sheffield Branch
997 Abbeydale Road
Millhouses
Sheffield
South Yorkshire
S7 2QE
Solicitors
Hill Dickinson LLP
The Balance
Pinfold Street
Sheffield
S1 2GU
Page 3
Mylnhurst Limited
Report of the Trustees
for the Year Ended 31 August 2020
REFERENCE AND ADMINISTRATIVE DETAILS
Bankers
Lloyds TSB Bank PLC
14 Church Street
Sheffield
S1 1HP
The Royal Bank of Scotland
5 Church Street
Sheffield
S1 1HF
The Co-operative Bank
PO Box 101
1 Balloon Street
Manchester
M60 4EP
Natwest
Millhouses Sheffield Branch
997 Abbeydale Road
Sheffield
S7 2QE
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Thetrustees(whoarealsothedirectorsofMylnhurstLimitedforthepurposesofcompany law)
areresponsibleforpreparingtheReportoftheTrusteesandthefinancialstatements in
accordancewithapplicablelawandUnitedKingdomAccountingStandards(United Kingdom
Generally Accepted Accounting Practice).
Page 4
Mylnhurst Limited
Report of the Trustees
for the Year Ended 31 August 2020
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyear which
giveatrueandfairviewofthestateofaffairsofthecharitablecompanyandofthe incoming
resourcesandapplicationofresources,includingtheincomeandexpenditure,ofthe charitable
company for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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accounting standards have been followed,
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statements on the going concern basis unless it for keeping proper accounting records
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time the financial position of the charitable statements comply with the Companies Act
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the assets of the charitable company and
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all steps that they ought to have taken to make & Co Limited, will be proposed for
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclose with
reasonableaccuracyatanytimethefinancialpositionofthecharitablecompanyandto enable
themto ensurethatthefinancialstatementscomplywiththeCompaniesAct2006.Theyare also
responsibleforsafeguardingtheassetsofthecharitablecompanyandhencefor taking
reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
-
there is no relevant audit information of which the charitable company's auditors are unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
Theauditors,CJWoodhead&CoLimited,willbeproposedforre-appointmentat the
forthcoming Annual General Meeting.
Reportofthetrustees,incorporatingastrategicreport,approvedbyorderoftheboard of
trustees, as the company directors, on 31 May 2021 and signed on the board's behalf by:
Mrs M M Bradshaw - Trustee
Page 5
Report of the Independent Auditors to the Members of
Mylnhurst Limited
Opinion
We haveauditedthefinancialstatementsof MylnhurstLimited(the'charitablecompany')for the
yearended31August2020whichcomprisetheStatementofFinancialActivities,the Balance
Sheet,theCashFlowStatementandnotestothefinancialstatements,includingasummary of
significantaccountingpolicies.Thefinancialreportingframeworkthathasbeenappliedin their
preparationisapplicablelawandUnitedKingdomAccountingStandards(United Kingdom
Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 August 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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in accordance with United Kingdom
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accordance with International Standards on
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responsibilities under those standards are further the audit of the financial statements section of company in accordance with the ethical
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financial statements in the UK, including the
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other ethical responsibilities in accordance with evidence we have obtained is sufficient and in respect of the following matters in relation to
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going concern basis of accounting in the in the financial statements any identified
-
doubt about the charitable company's ability for a period of at least twelve months
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs (UK))
andapplicablelaw.Ourresponsibilitiesunderthosestandardsarefurtherdescribedin the
Auditors'responsibilitiesfortheauditofthefinancialstatementssectionofourreport.We are
independentofthecharitablecompanyinaccordancewiththeethicalrequirementsthat are
relevanttoourauditofthefinancialstatementsintheUK,includingtheFRC'sEthical Standard,
andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththese requirements.
Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovide a
basis for our opinion.
Conclusions relating to going concern
WehavenothingtoreportinrespectofthefollowingmattersinrelationtowhichtheISAs (UK)
require us to report to you where:
-
the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
-
the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Page 6
Report of the Independent Auditors to the Members of
Mylnhurst Limited
Other information
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprises the
informationincludedin theAnnualReport,otherthanthefinancialstatementsand our Report of
the Independent Auditors thereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,exceptto the
extentotherwiseexplicitlystatedinourreport,wedonotexpressanyformof assurance
conclusion thereon.
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadthe other
informationand,indoingso,considerwhethertheotherinformationismaterially inconsistent
withthefinancialstatementsorourknowledgeobtainedin theauditorotherwiseappearsto be
materiallymisstated.Ifweidentifysuchmaterialinconsistenciesorapparent material
misstatements,wearerequiredtodeterminewhetherthereisamaterialmisstatementin the
financialstatementsoramaterialmisstatementoftheotherinformation.If,basedonthe work
we haveperformed,we concludethatthereis a materialmisstatementof thisother information,
we are required to report that fact. We have nothing to report in this regard.
-
or our knowledge obtained in the audit or
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we identify such material inconsistencies or to determine whether there is a material
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material misstatement of the other information. If, that there is a material misstatement of this of the Trustees for the financial
-
and understanding of the charitable company audit, we have not identified material
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in respect of the following matters where the have not been kept or returns adequate for
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
Inthelightoftheknowledgeandunderstandingofthecharitablecompanyandits environment
obtainedinthecourseoftheaudit,we havenotidentifiedmaterialmisstatementsinthe Report
of the Trustees.
WehavenothingtoreportinrespectofthefollowingmatterswheretheCompaniesAct 2006
requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
Page 7
Report of the Independent Auditors to the Members of
Mylnhurst Limited
Responsibilities of trustees
AsexplainedmorefullyintheStatementofTrustees'Responsibilities,thetrustees(whoare also
thedirectorsof thecharitablecompanyfor thepurposesof companylaw) are responsiblefor the
preparationof thefinancialstatementsandforbeingsatisfiedthattheygivea trueandfair view,
andforsuchinternalcontrolasthetrusteesdetermineisnecessarytoenablethepreparation of
financial statements that are free from material misstatement, whether due to fraud or error.
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthe charitable
company'sabilitytocontinueasagoingconcern,disclosing,asapplicable,mattersrelated to
going concernand using the going concernbasis of accountingunlessthe trusteeseitherintend to
liquidatethe charitablecompanyor to ceaseoperations,or haveno realisticalternativebutto do
so.
-
reasonable assurance about whether the misstatement, whether due to fraud or error, that includes our opinion. Reasonable assurance that an audit conducted in accordance
-
when it exists. Misstatements can arise from
-
individually or in the aggregate, they could responsibilities for the audit of the financial
-
Council's website at
Our responsibilities for the audit of the financial statements
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsas a
wholearefreefrommaterialmisstatement,whetherduetofraudor error,andtoissuea Report
oftheIndependentAuditorsthatincludesouropinion.Reasonableassuranceisahighlevel of
assurance,but is not a guaranteethat an auditconductedin accordancewith ISAs (UK) will always
detectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerror and
areconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpected to
influence the economic decisions of users taken on the basis of these financial statements.
A furtherdescriptionof ourresponsibilitiesfortheauditof thefinancialstatementsis located on
theFinancialReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities. This
description forms part of our Report of the Independent Auditors.
Page 8
Report of the Independent Auditors to the Members of
Mylnhurst Limited
Use of our report
Thisreportismadesolelytothecharitablecompany'smembers,asabody,inaccordance with
Chapter3 of Part16 of theCompaniesAct2006.Ourauditworkhasbeenundertakenso that we
mightstateto the charitablecompany'smembersthosematterswe are requiredto stateto them
in an auditors'reportand for no otherpurpose.To the fullestextentpermittedby law, we do not
acceptorassumeresponsibilitytoanyoneotherthanthecharitablecompanyandthe charitable
company'smembersasabody,forourauditwork,forthisreport,orfortheopinionswe have
formed.
C.J.Woodhead (Senior Statutory Auditor)
for and on behalf of C J Woodhead & Co Limited
158 Hemper Lane
Greenhill
Sheffield
South Yorkshire
S8 7FE
31 May 2021
Page 9
Mylnhurst Limited
Statement of Financial Activities
for the Year Ended 31 August 2020
DRAFT
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
3
Uniform sales
School income
Grant Income
General income
Mother & Toddler
Bursary
Total
EXPENDITURE ON
Raising funds
4
Charitable activities
5
School expenses
Bursary
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
31.8.20
31.8.19
Unrestricted
Total
fund
funds
£
£
300
556
26,261
36,357
1,440,526
1,604,226
220,035
97,029
3,370
15,773
402
332
-
14,869
1,690,894
1,769,142
24,474
18,360
1,549,804
1,599,774
95,085
14,869
1,669,363
1,633,003
21,531
136,139
1,345,919
1,209,780
1,367,450
1,345,919 |
31.8.20
31.8.19
Unrestricted
Total
fund
funds
£
£
300
556
26,261
36,357
1,440,526
1,604,226
220,035
97,029
3,370
15,773
402
332
-
14,869
1,690,894
1,769,142
24,474
18,360
1,549,804
1,599,774
95,085
14,869
1,669,363
1,633,003
21,531
136,139
1,345,919
1,209,780
1,367,450
1,345,919 |
|
|
1,769,142
18,360
1,599,774
14,869 |
|
|
1,633,003 |
|
|
136,139
1,209,780 |
|
|
1,345,919 |
The notes form part of these financial statements
Page 10
Mylnhurst Limited
Balance Sheet
31 August 2020
DRAFT
Notes
FIXED ASSETS
Tangible assets
11
Investments
12
CURRENT ASSETS
Stocks
13
Debtors
14
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than
one year
16
NET ASSETS |
31.8.20
31.8.19
Unrestricted
Total
fund
funds
£
£
1,326,939
1,285,059
100
100
1,327,039
1,285,159
32,681
40,040
114,292
131,647
397,172
471,513
544,145
643,200
(315,080)
(233,752)
229,065
409,448
1,556,104
1,694,607
(188,654)
(348,688)
1,367,450
1,345,919 |
|
|
The notes form part of these financial statements
continued...
Page 11
Mylnhurst Limited
Balance Sheet - continued
31 August 2020
FUNDS
Unrestricted funds
TOTAL FUNDS
18
1,367,4501,345,919
1,367,4501,345,919
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
31 May 2021 and were signed on its behalf by:
M M Bradshaw - Trustee
The notes form part of these financial statements
Page 12
Mylnhurst Limited
Cash Flow Statement
for the Year Ended 31 August 2020
DRA
Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing activities
Change in cash and cash
equivalents in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
2
Cash and cash equivalents at the
end of the reporting period
2 |
FT
31.8.20
£
131,438
(12,241)
119,197
(112,441)
(112,441)
(86,097)
(86,097)
(79,341)
471,513
392,172 |
31.8.19
£
242,197
(17,357)
224,840
(169,029)
(169,029)
(39,640)
(39,640)
16,171
455,342
471,513 |
|
|
|
The notes form part of these financial statements
Page 13
Mylnhurst Limited
Notes to the Cash Flow Statement
for the Year Ended 31 August 2020
1. |
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM |
OPERATING ACTIVITIES |
OPERATING ACTIVITIES |
|
|
31.8.20 |
31.8.19 |
|
|
£ |
£ |
|
Net income for the reporting period (as per the Statement |
|
|
|
of Financial Activities) |
21,531 |
136,139 |
|
Adjustments for: |
|
|
|
Depreciation charges |
70,560 |
57,117 |
|
Interest paid |
12,241 |
17,357 |
|
Decrease/(increase) in stocks |
7,359 |
(14,828) |
|
Decrease in debtors |
17,355 |
30,387 |
2. |
DRAFT
Increase in creditors
2,392
Net cash provided by operations
131,438
ANALYSIS OF CASH AND CASH EQUIVALENTS
31.8.20
£
Cash in hand
1,676
Notice deposits (less than 3 months)
395,496
Overdrafts included in bank loans and overdrafts falling due
within one year
(5,000)
Total cash and cash equivalents
392,172 |
|
16,025
242,197
31.8.19
£
364
471,149
-
471,513 |
The notes form part of these financial statements
Page 14
Mylnhurst Limited
Notes to the Cash Flow Statement
for the Year Ended 31 August 2020
3. ANALYSIS OF CHANGES IN NET FUNDS
DRA
Net cash
Cash at bank and in hand
Bank overdraft
Debt
Debts falling due within 1 year
Debts falling due after 1 year
Total |
FT
At 1.9.19
£
471,513
-
471,513
(78,089)
(285,629)
(363,718)
107,795 |
Cash flow
At 31.8.20
£
£
(74,341)
397,172
(5,000)
(5,000)
(79,341)
392,172
(50,777)
(128,866)
136,875
(148,754)
86,098
(277,620)
6,757
114,552 |
|
|
|
The notes form part of these financial statements
Page 15
Mylnhurst Limited
Notes to the Financial Statements
for the Year Ended 31 August 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentity under
FRS102,havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102) 'Accounting
andReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicable in
theUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland'andtheCompaniesAct2006.Thefinancialstatementshavebeenprepared under
thehistoricalcostconvention,withtheexceptionofinvestmentswhichareincluded at
market value.
-
with the exception of investments
-
in the Statement of Financial Activities it is probable that the income will be
-
as expenditure as soon as there to that expenditure, it is probable that a in settlement and the amount of the obligation
-
is accounted for on an accruals basis and has all cost related to the category. Where costs
-
headings they have been allocated to activities at the following annual rates in order to write - in accordance with the property
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharity has
entitlementtothefunds,itisprobablethattheincomewillbereceivedandthe amount
can be measured reliably.
Expenditure
Liabilitiesare recognisedas expenditureas soon as thereis a legal or constructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferof economic
benefitswillberequiredinsettlementandtheamountoftheobligationcanbe measured
reliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassified under
headingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedto particularheadingsthey have been allocatedto activitieson a basis consistent
with the use of resources.
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachasset over
its estimated useful life.
Improvements to property- in accordance with the property
Fixtures and fittings- 20% on reducing balance
Motor vehicles- 25% on reducing balance
Computer equipment- 33% on reducing balance
Stocks
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdue allowance
for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
continued...
Page 16
Mylnhurst Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
1. ACCOUNTING POLICIES - continued
Fund accounting
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesat the
discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjects of
thecharity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraised for
particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotesto the
financial statements.
Hire purchase and leasing commitments
RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivities on
a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme. Contributions
payabletothecharitablecompany'spensionschemearechargedtotheStatement of
Financial Activities in the period to which they relate.
2. DONATIONS AND LEGACIES
----- Start of picture text -----
31.8.20 31.8.19
£ £
300 556
----- End of picture text -----
----- Start of picture text -----
Donations
----- End of picture text -----
continued...
Page 17
Mylnhurst Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
3. INCOME FROM CHARITABLE ACTIVITIES
DRAFT
Activity
Uniform sales
Uniform sales
School & nursery fees
School income
Merlin fees
School income
Hire of facilities
School income
Clubs & activities
School income
Grants
Grant Income
General income
General income
Mother & toddler
Mother & Toddler
General income
Bursary
Grants received, included in the above, are as follows:
Nursery grants
Furlough grants received
4.
RAISING FUNDS
Other trading activities
Opening stock
Purchases
Closing stock
Bad debts |
31.8.20
£
26,261
1,368,811
20,053
29,634
22,028
220,035
3,370
402
-
1,690,594
31.8.20
£
71,541
148,494
220,035
31.8.20
£
40,040
14,211
(32,681)
2,904
24,474 |
31.8.19
£
36,357
1,480,249
30,462
49,514
44,001
97,029
15,773
332
14,869
1,768,586
31.8.19
£
97,029
-
97,029
31.8.19
£
25,212
29,356
(40,040)
3,832
18,360 |
31.8.19
£
36,357
1,480,249
30,462
49,514
44,001
97,029
15,773
332
14,869
1,768,586
31.8.19
£
97,029
-
97,029
31.8.19
£
25,212
29,356
(40,040)
3,832
18,360 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
continued...
Page 18
Mylnhurst Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
5. CHARITABLE ACTIVITIES COSTS
Support
Directcosts (see
Costsnote 6)Totals
£££
School expenses 1,423,618126,1861,549,804
-
Bursary 95,08595,085
1,518,703126,1861,644,889
6.SUPPORT COSTS
Governance
Other 2costsTotals
£££
School expenses 70,56055,626126,186
7.NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.8.2031.8.19
££
Auditors' remuneration 6,0006,445
Depreciation - owned assets 70,56157,116
Other operating leases 8,00012,000
8.TRUSTEES' REMUNERATION AND BENEFITS
Martina Bradshaw, a trustee received remuneration of £9,695 during the year (2019 - £nil).
Martina Bradshaw, a trustee received remuneration of £9,695 during the year (2019 - £nil).
None of the other trustees received any remuneration.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31 August2020norforthe year
ended 31 August 2019.
continued...
Page 19
Mylnhurst Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
9. STAFF COSTS
STAFF COSTS |
|
|
Wages and salaries
Social security costs
Other pension costs |
31.8.20
£
928,080
67,604
81,895
1,077,579 |
31.8.19
£
967,877
69,784
66,580 |
|
|
1,104,241 |
10. |
DRAFT
The average monthly number of employees during the year was as follows:
31.8.20
Administrative Staff
5
Management Staff
4
Teaching Staff
64
73
The number of employees whose employee benefits (excluding employer
exceeded £60,000 was:
31.8.20
£60,001 - £70,000
1
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM |
DRAFT
The average monthly number of employees during the year was as follows:
31.8.20
Administrative Staff
5
Management Staff
4
Teaching Staff
64
73
The number of employees whose employee benefits (excluding employer
exceeded £60,000 was:
31.8.20
£60,001 - £70,000
1
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM |
31.8.19
5
4
64
73
pension costs)
31.8.19
1
Unrestricted
fund
£ |
|
Donations and legacies |
|
556 |
|
Charitable activities |
|
|
|
Uniform sales |
|
36,357 |
|
School income |
|
1,604,226 |
|
Grant Income |
|
97,029 |
|
General income |
|
15,773 |
|
Mother & Toddler |
|
332 |
|
Bursary |
|
14,869 |
|
Total |
|
1,769,142 |
continued...
Page 20
Mylnhurst Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
10.COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
----- Start of picture text -----
Unrestricted
fund
£
EXPENDITURE ON
Raising funds 18,360
Charitable activities
School expenses 1,599,774
Bursary 14,869
Total 1,633,003
NET INCOME 136,139
RECONCILIATION OF FUNDS
Total funds brought forward 1,209,780
TOTAL FUNDS CARRIED FORWARD 1,345,919
DRAFT
----- End of picture text -----
continued...
Page 21
Mylnhurst Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
11. TANGIBLE FIXED ASSETS
DRA
COST
At 1 September 2019
Additions
At 31 August 2020
DEPRECIATION
At 1 September 2019
Charge for year
At 31 August 2020
NET BOOK VALUE
At 31 August 2020
At 31 August 2019
COST
At 1 September 2019
Additions
At 31 August 2020
DEPRECIATION
At 1 September 2019
Charge for year
At 31 August 2020
NET BOOK VALUE
At 31 August 2020
At 31 August 2019 |
FT
Improvements
Fixtures
to
Plant and
and
property
machinery
fittings
£
£
£
1,548,228
22,498
301,809
27,466
7,903
29,858
1,575,694
30,401
331,667
342,003
22,498
274,859
24,675
1,581
11,362
366,678
24,079
286,221
1,209,016
6,322
45,446
1,206,225
-
26,950
Motor
Computer
vehicles
equipment
Totals
£
£
£
44,847
297,140
2,214,522
-
47,214
112,441
44,847
344,354
2,326,963
43,775
246,328
929,463
268
32,675
70,561
44,043
279,003
1,000,024
804
65,351
1,326,939
1,072
50,812
1,285,059 |
|
|
continued...
Page 22
Mylnhurst Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
DRAFT
12.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 September 2019 and
31 August 2020
NET BOOK VALUE
At 31 August 2020
At 31 August 2019
There were no investment assets outside the UK.
13.
STOCKS
Stocks
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors |
|
|
|
continued...
Page 23
Mylnhurst Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
DRAFT
31.8.20
£
Bank loans and overdrafts (see note 17)
133,866
Trade creditors
105,369
PAYE & NIC
39,215
Other creditors
14,474
Accruals and deferred income
8,071
Accrued expenses
14,085
315,080
16.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.20
£
Bank loans (see note 17)
148,754
Other creditors
39,900
188,654
17.
LOANS
An analysis of the maturity of loans is given below:
31.8.20
£
Amounts falling due within one year on demand:
Bank overdrafts
5,000
Bank loans
128,866
133,866
Amounts falling between one and two years:
Bank loans - 1-2 years
148,754 |
31.8.19
£
78,089
93,559
45,548
400
8,071
8,085 |
|
233,752 |
|
|
|
31.8.19
£
285,629
63,059 |
|
348,688 |
|
|
|
31.8.19
£
-
78,089 |
|
78,089 |
|
|
|
285,629 |
continued...
Page 24
Mylnhurst Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
18. MOVEMENT IN FUNDS
DRAFT
At 1.9.19
£
Unrestricted funds
General fund
1,345,919
TOTAL FUNDS
1,345,919
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
1,690,894
TOTAL FUNDS
1,690,894
Comparatives for movement in funds
At 1.9.18
£
Unrestricted funds
General fund
1,209,780
TOTAL FUNDS
1,209,780 |
Net
movement
At
in funds
31.8.20
£
£
21,531
1,367,450
21,531
1,367,450
Resources
Movement
expended
in funds
£
£
(1,669,363)
21,531
(1,669,363)
21,531
Net
movement
At
in funds
31.8.19
£
£
136,139
1,345,919
136,139
1,345,919 |
|
|
continued...
Page 25
Mylnhurst Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
18. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
|
|
Incoming |
Resources |
Movement |
|
|
resources |
expended |
in funds |
|
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
|
1,769,142 |
(1,633,003) |
136,139 |
DRAFT
TOTAL FUNDS
1,769,142
(1,633,003)
136,139
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At
At 1.9.18
in funds
31.8.20
£
£
£
Unrestricted funds
General fund
1,209,780
157,670
1,367,450
TOTAL FUNDS
1,209,780
157,670
1,367,450
A current year 12 months and prior year 12 months combined net movement in funds,
included in the above are as follows:
Incoming
Resources
Movement
resources
expended
in funds |
|
|
|
|
|
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
|
3,460,036 |
(3,302,366) |
157,670 |
TOTAL FUNDS |
|
3,460,036 |
(3,302,366) |
157,670 |
continued...
Page 26
Mylnhurst Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
19. EMPLOYEE BENEFIT OBLIGATIONS
MylnhurstLimitedoperatesadefinedcontributionpensionschemeforits employees.
MylnhurstLimiteddoesnotcontroltheTeachersPensionScheme.Thecostto Mylnhurst
Limited in the year was £81,895 (2019 - £66,580)
20. RELATED PARTY DISCLOSURES
MylnhurstSports,Education&LeisureLtdhasanintercompanyloanindebtedness to
Mylnhurst Ltd which amounted to £49,894 at 31st August 2020 (2019 - £96,486).
Page 27
Mylnhurst Limited
DRAFT
Detailed Statement of Financial Activities
for the Year Ended 31 August 2020
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Charitable activities
School & nursery fees
Uniform sales
Merlin fees
Hire of facilities
Grants
Mother & toddler
General income
Clubs & activities
Total incoming resources
EXPENDITURE
Other trading activities
Opening stock
Purchases
Bad debts
Closing stock
Charitable activities
Wages
Social security
Pensions
Rates and water
Insurance
Carried forward |
31.8.20
£
300
1,368,811
26,261
20,053
29,634
220,035
402
3,370
22,028
1,690,594
1,690,894
40,040
14,211
2,904
(32,681)
24,474
928,080
67,604
81,895
14,760
22,242
1,114,581 |
31.8.19
£
556
1,480,249
36,357
30,462
49,514
97,029
332
30,642
44,001
1,768,586
1,769,142
25,212
29,356
3,832
(40,040)
18,360
967,877
69,784
66,580
15,615
25,851
1,145,707 |
|
|
|
This page does not form part of the statutory financial statements
Page 28
Mylnhurst Limited
DRAFT
Detailed Statement of Financial Activities
for the Year Ended 31 August 2020
Charitable activities
Brought forward
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Repairs to premises
Catering costs
Books & resources
Cleaning & waste management
Subscriptions & donations
Bank charges
Training fees
Bursary
School production
Medical insurance
Motor expenses
Repairs
I T repairs & maintenance
Merchandising purchases
Travel & subsistence
Loan
Support costs
Other 2
Improvements to property
Plant and machinery
Fixtures and fittings
Motor vehicles
Computer equipment
Governance costs
Auditors' remuneration
Carried forward |
31.8.20
£
1,114,581
26,140
3,471
10,220
9,940
1,749
8,634
31,767
87,104
23,960
2,057
7,079
5,885
114,093
570
-
12,901
36,088
10,223
-
-
12,241
1,518,703
24,674
1,581
11,362
268
32,675
70,560
6,000
6,000 |
31.8.19
£
1,145,707
31,113
4,220
9,150
22,490
4,906
11,991
48,262
99,666
13,596
1,426
3,934
5,405
14,869
158
3,495
10,980
28,087
15,272
1,548
1,087
17,357 |
|
|
1,494,719
24,617
-
6,737
357
25,406 |
|
|
57,117
6,445
6,445 |
This page does not form part of the statutory financial statements
Page 29
Mylnhurst Limited
Detailed Statement of Financial Activities
for the Year Ended 31 August 2020
Detailed Statement of Financial Activities
for the Year Ended 31 August 2020 |
|
|
Governance costs
Brought forward
Other operating leases
Professional charges
Total resources expended
Net income |
31.8.20
£
6,000
8,000
41,626
55,626
1,669,363
21,531 |
31.8.19
£
6,445
12,000
44,362 |
|
|
62,807 |
|
|
1,633,003 |
|
|
136,139 |
This page does not form part of the statutory financial statements
Page 30