``` 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` - `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. ``` - `Association the members of the board shall not` - `less than three members. No person who is not one-third of the members of the Council legal obligations under charity and company` - `of association the committee and decision with the Trustees of the Institute of` - `of the Charity's operational premises and are set up to operate the McAuley Building known is limited by guarantee. It has been agreed` - `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 directors of Mylnhurst Limited for the purposes the Report of the Trustees and the` - `law and United Kingdom Accounting Standards` ``` 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;` - `observe the methods and principles in the Charity SORP;` - `make judgements and estimates that are reasonable and prudent;` - `state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;` - `accounting standards have been followed,` - `statements on the going concern basis unless it for keeping proper accounting records` - `time the financial position of the charitable statements comply with the Companies Act` - `the assets of the charitable company and` - `all steps that they ought to have taken to make & Co Limited, will be proposed for` - `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` - `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;` - `have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and` - `in accordance with United Kingdom` - `accordance with International Standards on` - `responsibilities under those standards are further the audit of the financial statements section of company in accordance with the ethical` - `financial statements in the UK, including the` - `other ethical responsibilities in accordance with evidence we have obtained is sufficient and in respect of the following matters in relation to` - `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` - `we identify such material inconsistencies or to determine whether there is a material` - `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` - `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` - `the financial statements are not in agreement with the accounting records and returns; or` - `certain disclosures of trustees' remuneration specified by law are not made; or` - `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. ``` - `the nature and purpose of each fund is included` - `operating leases are charged to the Statement of operates a defined contribution pension company's pension scheme are charged to £` ## **`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 ```