2021-08-31-accounts - The Ursuline Preparatory School

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

CONTENTS	PAGES
Trustees and professional advisers
Trustees' Annual Report	2to 6
Independent auditor's report to the trustees	7to 8
Statement offinancial activities
Statement offinancial position	10
Statement ofcash flows
Notes to the financial statements	12to 19

	Y	EAR ENDED 35 AUGU	ST 2021
				Total Funds	Total Funds
				2021	2020
			Note
INCOME
Donations and Grants			4	8,854	58,265
Income from charitable	activities		5	1,837,559	1,889,142
TOTAL INCOME				1,846,413	1,947,407
EXPENDITURE
Expenditure on charitable activities			6	(1,775,167)	(1,734,958)
Other expenses			7	(83,425)	(88,611)
TOTAL EXPENDITURE				(1,858,592)	(1,823,569)
NET (EXPENDITURE)/INCOME		FORTHE YEAR		(12,179)	123,838
RECONCILIATION	OF FUNDS
Total funds brought forward				1,181,231	1,057,393
TOTAL FUNDS CARRIED FORWARD				1,169,052	1,181,231

					2021	2020
					E
Cash flows from operating		activities
Net (expenditure)/income					(12,179)	123,838
Adjustments for:
Depreciation oftangible fixed assets					S4,920	81,520
Loan interest included in financing			activities		6,495	7,521
Profit on disposal offixed assets					(437)
Changes in:
Decrease in stock					187	310
Decrease/(Increase) in debtors					22,296	(72,058)
Increase in creditors: amounts falling due & lyear					73,026	30,104
Cash generated from operations					174,308	171,235
Interest received
Net cash from operating activities					174,30S	171,235
Cash flows from investing		activities
Purchase oftangible assets					(25,375)	(41,534)
Disposal oftangible assets					500
Net cash used in investing	activities				(24,875)	(41,534)
Cash flows from financing		activities
Interest paid					(6,495)	(7,521)
Repayment ofbank loans					(4,384)	(103,260)
Net cash used in investing		activities			(10,879)	(110,781)
Net increase in cash and cash equivalents					138,554	18,920
Cash and cash equivalents		at beginning		ofyear	311,100	292,180
Cash and cash equivalents		at end	ofyear		449,654	311,100

INCOME FROM	D	ONATIONS AND GRANTS	(UNRESTRICTED)
			Total Funds	Total Funds
			2021	2020
Donations-Parents	and Friends Association		3,620	1,667
Grants —Coronavirus		Job Retention Scheme	5,234	56,598
			S,854	58,265

6.	EXPENDITU	RE ON CHARIT	ABLE ACTIVITIE	S BYACTIVITY TYPE	(UNRESTRICTED)
				Total Funds	Total Funds
				2021	2020
	Teaching and	care ofchildren		1,317,817	1,297,855
	Running costs	and maintenance	ofschool	457,350	437,103
				1,775,167	1,734,958
7.	OTHER EXPENDITURE (UNRESTRICTED)
				Total Funds	Total Funds
				2021	2020
	Administration	staff salaries		33,640	33,640
	Employer's NIC			3,427	3,443
	Insurance			246	216
	Accountancy	fees		2,035	1,642
	Audit fees			4,764	4,764
	Bank charges			1,543	1,425
	Postage, stationery and telephone			12,552	14,065
	Other pension	costs		1,682	1,682
	Advertising and website costs			6,749	20
	Rental ofoffice equipment			2,916	6,450
	Printing			7,376	13,743
	Loan Interest	Paid		6,495	7,521
				83,425	88,611
8.	NET INCOME FORTHE YEAR
	This is stated	after charging:
				2021	2020
	Staffpension	contributions		163,471	157,625
	Depreciation			84,920	81,520
	Auditors' fees			4,764	4,764
	Operating lease costs:
	-Land and buildings			35,515	37,262
9.	STAFFCOSTS AND EMOLUMENTS
	Total staff costs were as follows:
				2021	2020
	Wages and salaries			1,203,879	1,180,768
	Social security costs			115,481	112,729
	Other pension	costs		163,471	157,626
	Private health	insurance		20,713	19,997
				1,503,544	1,471,120

Particulars	ofemployees:
The average	number ofemployees		during the	year was as follows
				2021	2020
				No	No
Academic		-Full Time		13	12
		-Part Time		21	22
Ancillary		-Full Time		4	3
		-Part Time		6	8
				44	45
The number	ofemployees	whose remuneration		for the year fell within the following	bands, were:
				2021	2020
				No	No
f60,001to f70,000				2	2
8170,001to	$180,000			1	1

			YEAR ENDED 31AUGUST 202'I
11.	STOCKS
			2021	2020
	Stock		1,571	1,758
12.	DEBTORS
			2021	2020
	Trade debtors		15,317	53,902
	Other debtors		3,240	13,177
	Prepayments		78,072	51,846
			96,629	118,925
13.	CREDITORS: Amounts	falling due within one year
			2021	2020
	Bank loan (note 14)		4,139	4,339
	Trade creditors		4,838	3,317
	FAYE and social security		14,367	14,388
	Deposits held		50,750	45,800
	Fees received in advance		292,588	195,554
	Accruals		133,527	152,268
	Other creditors		1,747	13,563
			501,956	429,129
14.	CREDITORS: Amounts	falling due after more than one year
			2021	2020
	Bank loan repayable		118,701	122,885
			118,701	122,885
	The bank loan is repayable		as follows:
	Within one year (note 13)		4,139	4,339
	Between two and five years		22,505	21,446
	More than 5years		~96196	101439
			122,840	127,224