2021-08-31-accounts - Eltham College

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arity Trustee body, was as follo	ws during the year:
NAME				COMMITTEES		OTHER
			E	J	A	HS
Mr P Doyle (Chairman)			0
Mr P Ashcroft*	Appointed	13.01.20
Mrs F Brown*	Appointed	13.01.20
Mr M Curry	Appointed	13.01.20
Mr G Dransfield
Mrs A Edwards	Resigned	12.10.20
Mr M Fosten
Rev W Hawkins
Mr LJagger*
Mr A Neden
Mr BO'Donoghue*
Mr0 Obidipe	Appointed	17.6.21
Mrs A Paterson
Mr A Spencer
Rev P Swaffield	Resigned	12.10.20
Mr T Wilson	Deceased	01.03.21

Key management	Key management	personnel
Headmaster:			Mr G Sanderson MA (Oxon) FRSA
Bursar:			Mr A Butterworth	MA (Cantab) DChA
Head ofthe Junior		School:	Mrs V Meier
Deputy Heads:			Mr J Martin
			Mrs A Massey
			Mr E Wright
			Mrs N Devon
			Mr A Taylor
Registered	Office
			Eltham College
			Grove Park Road
			Mottingham
			London SE94QF
Advisers
Bankers:			Barclays Bank Pic
			5~ Floor Corinthian	House
			17Lansdowne Road
			Croydon CRO 2BX
			Lloyds Bank Pic
			Level 5, 110St.Vincent Street
			Glasgow G2 5ER
Auditors:			Azets Audit Services
			2nd Floor, Regis House
			45 King William Street
			London EC4R 9AN
Solicitors:			Bircham Dyson Bell
			50 Broadway
			London SW1H OBL
			GBH Law Ltd
			7/8 Innovation Place
			Douglas Drive
			Godalming
			Surrey GU71JX

STREAMLINED ENERGY AND CARBON REPORTING
GHG emissions and energy use data for period 1 September	2020 to 31 August	2021
	Baseline Reporting Year
	2020-2021
	UK GHG Emission	and Energy	Data
Energy consumption used to calculate emissions (kWh); all mandatory energy sources are included			4,287,701.3
Scope 1:Emissions from the combustion of natural gas tCOze				587.9
Scope 1: Emissions from combustion of fuel for transport and/or heating tCOze				15.0
Scope 1:Emissions of biomass pellets tCO2e				NA
Scope 3: Emissions from business travel in
employee-owned vehicles, where the School repaid mileage claims tCOze (average vehicle/fuel source				NA
unknown)
Scope 2:Emissions from purchased electricity tCOze			226.6.5
Total gross COze based on above (tCOze)				829.5
Intensity Ratio: kg COze gross based on mandatory
fields above per pupil during the academic year:	813.28 kg COze per			pupil
(kg COze per pupil)

			Unrestricted	Funds	Restricted	Endowed	Total	Total
		Notes	School	Other	Funds	Funds	2021	2020
			E	f	E	E
INCOME
Income from charitable	activities:
School fees receivable		2	18,719,987				18,719,987	16,341,156
Less: awards		2	(2,466,721)		(12,810)		(2,479,531)	(2,687,825)
Other educational income		3	195,849				195,849	156,542
Other ancillary trading	income	3	1,058,427				1,058,427	1,043,582
Income from other trading
activities:
FSSM Ltd income				388,771			388,771	463,667
Income from generated	funds:
Investment income			2,923	11,264	3,039	3	17,229	29,740
Donations and appeal	receipts			24,361	222,866		247,227	173,552
Rents and Lettings			68,277				68,277	78,158
Total			17,578,742	424,396	213,095	3	18,216,236	15,598,572
EXPENDITURE
Costs of raising funds:
Fund-raising			49,653	21,570	98,983		170,206	136,616
Financing costs			510,414				510,414	435,904
FSSM Ltd costs				444,860			444,860	418,504
			560,067	466,430	98,983		1,125,480	991,024
Charitable Activities:
Schools and grant making			16,107,830		904		16,108,734	14,815,877
Pension scheme deficit funding		22	(3,288)				(3,288)	(2,949)
arrangement
Total		5	16,664,609	466,430	99,887		17,230,926	15,803,952
NET INCOMING/(OUTGOING)			914,133	(42,034)	113,208	3	985,310	(205,380)
RESOURCES
Transfers between funds			166,063	(75,967)	(90,093)	(3)
Investment gains				61,912	17,314		79,226	10,831
			1,080,196	(56,089)	40,429		1,064,536	(194,549)
NET INCOME/(DEFICIT)			1,024,107		40,429		1,064,536	(194,549)
Fund Balances at 1 September 2020			9,284,150		174,033	32,559	9,490,742	9,685,291
Fund Balances at 31August 2021			10,308,257		214,462	32,559	10,555,278	9,490,742

						Notes	Group	Group	School	School
							2021	2020	2021	2020
Fixed assets
Intangible	assets					7	6,285	6,285
Tangible assets						8	28,777,580	28,275,096	28,719,029	28,199,377
Investment		assets				9	530,547	451,321	530,549	451,323
							29,314,412	28,732,702	29,249,578	28,650,700
Current assets
Stocks							1,858	1,858
Debtors						10	644,410	534,354	661,267	531,645
Cash							4,441,235	3,752,779	4,440,551	3,732,893
							5,087,503	4,288,991	5,101,818	4,264,538
Creditors:		Amounts	falling due
within one		year				11	(4,612,003)	(4,456,163)	(4,575,578)	(4,419,891)
Net current		assets/(liabilities)					475,500	(167,172)	526,240	(155,353)
Total	assets		less		current
assets/(liabilities)							29,789,912	28,565,530	29,775,818	28,495,347
Creditors:		Amounts	falling due
after more		than one	year			12	(19,222,557)	(19,059,423)	(19,222,557)	(19,059,423)
Provisions		for liabilities				21	(12,077)	(15,365)	(12,077)	(15,365)
Net assets							10,555,278	9,490,742	10,541,184	9,420,559
Endowed	funds					15a	32,559	32,559	32,559	32,559
Restricted		funds				15b	214,462	174,033	214,462	174,033
Unrestricted		funds
Designated		and general		funds		15c	10,308,257	9,284,150	10,294,163	9,213,967
Total funds						15	10,555,278	9,490,742	10,541,184	9,420,559


					Notes
Cash flows from operating	activities				17		3,645,139		1,879,964
Cash flows from investing	activities:
Investment income received						14,306		14,124
Interest received						6,689		13,049
Interest paid						(510,414)		(435,904)
Sale oftangible fixed asset								3,000
Payment for tangible fixed assets						(1,772,474)		(1,482,548)
							(2,261,893)		(1,888,279)
Net cash flow before financing		activities					1,383,246		(8,315)
Cash flow from financing	activities				18
New loans advanced									3,484,116
Repayment of borrowing							(694,790)		(304,633)
Change in cash and cash	equivalents			in
the year					19		688,456		3,171,168
Cash and cash equivalents	brought		forward				3,752,779		581,611
Cash acquired with subsidiary
Cash and cash equivalents
at 31August 2021					19		4,441,235		3,752,779

		2021	2020
Gross charitable	income	18,216,236	15,598,572
Charitable expenditure		17,230,926	15,803,952
Net income for	the year	985,310	(205,380)

EXPENDITURE		2021	2020
Governance expenditure	includes:
Auditors' remuneration:
For audit services (ofwhich F2,500for subsidiary)		17,800	17,350
For other services		1,380
Total staff costs comprised:
Wages and salaries		8,939,772	8,013,429
Social security costs		936,034	839,853
Pension contributions		1,604,445	1,488,152
		11,480,251	10,341,434

within FSSM	Ltd costs in the Statem	ent of Financial Activities.
The average	number ofemployees	in the year was:	Number	Number
Academic			157	131
Administration			45	43
Other			68	66
			270	240

The number ofemployees whose emoluments exce	eded F60,000were:
K60,001 —F70,000	17	13
F70,001 - F80,000	6	3
F80,001 - 290,000	1	1
F90,001 —F100,000	2	3
F100,001 —F110,000		1
F120,001 - F130,000
F180,001 —2190,000
F190,001 —6200,000

ANALYSIS OF	TOTAL	TOTAL	RESOURCES EXPENDED
			Staff costs	Other	Depreciation	Total	2020
			(note 4)
			E	E
Costs of raising funds:
Fund-raising			151,470	18,736		170,206	136,616
Finance costs				510,414		510,414	435,904
Trading costs	of subsidiary			444,860		444,860	418,504
			151,470	974,010		1,125,480	991,024
Charitable activities:
Teaching costs			9,284,673	668,670		9,953,343	9,077,074
Welfare				618,906		618,906	485,253
Premises			919,945	700,360	1,249,057	2,869,362	2,698,778
Support costs			1,106,663	1,517,191		2,623,854	2,518,394
School's operating		costs	11,311,281	3,505,127	1,249,057	16,065,465	14,779,499
Grants Awards	and prizes			2,690		2,690	2,665
Governance costs			17,500	23,079		40,579	33,713
Total			11,328,781	3,530,896	1,249,057	16,108,734	14,815,877
Pension scheme deficit
arrangement				(3,288)		(3,288)	(2,949)
Expensing ofcapitalised			costs
Exceptional bad	debt provision
Total expenditure			11,480,251	4,501,618	1,249,057	17,230,926	15,803,952

INTANGIBLE ASSETS
	Goodwill
Group
Cost
At start ofyear	6,285
Acquisition
At end ofyear	6,285
Amortisation
At start ofyear
Charge for the year
At end ofyear
Net book value	6,285

TANGIBLE FIXEDASSETS
	Freehold		Furniture
	Land and	Leasehold	and	Motor
	Buildings	Landf	Equipment	Vehicles f	Totalf
GROUP
Cost
At 1 September 2020	36,115,142	825,000	4,504,507	31,506	41,476,155
Additions	1,495,738		276,736		1,772,474
Disposais			(11,525)		(11,525)
At 31 August 2021	37,610,880	825,000	4,769,718	31,506	43,237,104
Depreciation
At 1 September 2020	9,542,736	287,375	3,339,442	31,506	13,201,059
Charge for year	915,536	16,500	334,188		1,266,224
Disposals			(7,759)		(7,759)
At 31 August 2021	10,458,272	303,875	3,665,871	31,506	14,459,524
Net book values
At 31August 2021	27,152,608	521,125	1,103,847		28,777,580
At 31 August 2020	26,572,406	537,625	1,165,065		28,275,096
SCHOOL
Cost
At 1 September 2020	36,115,142	825,000	4,401,092	31,506	41,372,740
Additions	1,495,738		276,737		1,772,475
Disposais			(11,525)		(11,525)
At 31 August 2021	37,610,880	825,000	4,666,304	31,506	43,133,690
Depreciation
At 1 September 2020	9,542,736	287,375	3,311,746	31,506	13,173,363
Charge for year	915,536	16,500	317,021		1,249,057
Disposais			(7,759)		(7,759)
At 31 August 2021	10,458,272	303,875	3,621,008	31,506	14,414,661
Net book values
At 31August 2021	27,152,608	521,125	1,045,296		28,719,029
At 31 August 2020	26,572,406	537,625	1,089,346		28,199,377

INVESTMENTS	INVESTMENTS	Unrestricted
		Designated	Restricted	Total
Balance	at 1 September 2020 (COIF shares)	351,396	99,925	451,321
Increase in market value		61,912	17,314	79,226
Balance	at 31 August 2021 (Group)	413,308	117,239	530,547
Shares	in subsidiary	2		2
Balance	at 31 August 2021 (School)	413,310	117,239	530,549
Income	shares in COIF" at cost			292,170


Profit and lo	ss account	2021
Turnover		309,267
Cost ofsales		(10,894)
Gross profit/(loss)		298,373
Other income		79,505
Administrative	and other expenses	(433,967)
Net loss		(56,089)
Net assets as	at 31 August 2021	7,811

DEBTORS		Group
		2021	2020	2021	2020
Due within one year:
School fees		27,280	49,326	27,280	49,326
Trade debtors		5,174	1,276
Sundry debtors		168,927	137,738	168,924	137,717
Inter-company	debtor			53,889	34,118
Prepayments		337,024	310,484	334,267	310,484
Accrued income		106,005	35,530	76,907
		644,410	534,354	661,267	531,645

		2021	2020
Group	and School
After 5years		392,120	68,961
Within	2 to 5years	841,032	446,565
Within	1 to 2 years	573,810	495,771
		1,806,962	1,011,297
Within	1 year	1,050,425	1,194,333
		2,857,387	2,205,630

Balance	at 1 September 2020	at 1 September 2020	2,205,630	2,367,303
New contracts			1,813,799	991,172
			4,019,429	3,358,475
Amounts	utilised in payment	offees	(1,162,042)	(1,1 52,845)
Balance	at 31August 2021		2,857,387	2,205,630

	The net a	ssets	are held	for the various fun	ds as follows:
				Tangible
				Fixed	Investments	Net Current	Long Term
	Group			Assets	&Goodwill	Assets	Liabilities	Total
					E		E	F.
	Endowed	funds				32,559		32,559
	Restricted	funds			117,239	97,223		214,462
	Unrestricted funds			28,777,580	419,593	345,718	(19,234,634)	10,308,257
				28,777,580	536,832	475,500	(19,234,634)	10,555,278
	School
	Endowed	funds				32,559		32,559
	Restricted	funds			117,239	97,223		214,462
	Unrestricted funds			28,719,029	413,310	396,458	(19,234,634)	10,294,163
				28,719,029	530,549	526,240	(19,234,634)	10,541,184
15a.	ENDOWED FUNDS			Balance				Balance
				1 September	Incoming	Resources		31August
				2020	Resources	Expended	Transfers	2021
				E	E
	Other Endowed		Funds	23,208			(3)	23,208
	Prize Trust	Fund		7,203			(-)	7,203
	ECPA (Neville Wood)
	Leaving Trust			2,148				2,148
				32,559			(3)	32,559

17.	RECONCILIATION	OF NET INCOMING RESOURCES	OF NET INCOMING RESOURCES	OF NET INCOMING RESOURCES	TO NET
	CASH INFLOW FROM OPERATIONS				2021			2020
	Net Incoming/(Outgoing) Resources					985,310		(205,380)
	Depreciation charge			1,266,224			1,297,986
	Investment income	received		(14,306)			(14,124)
	Profit on sale offixed asset						(2,567)
	Interest received				(2,923)		(13,049)
	Interest paid			510,414			435,904
	Increase in stock
	(Increase)/decrease	in debtors		(110,055)			19,146
	Increase in creditors			1,013,763			364,997
	(Decrease) in provision				(3,288)		(2,949)
						2,659,829		2,085,344
	Net cash inflow from operations					3,645,139		1,879,964
18.	ANALYSIS OF CHANGES		IN FINANCING				2021	2020
	Loans:
	Balance 1 September 2020						16,693,609	13,514,126
	New loans advanced							3,484,116
	Loan repayments						(694,790)	(304,633)
	Balance at 31August 2021						15,998,819	16,693,609
19.	ANALYSIS OF CASH AND		CASH	Balance	Cash	flows	Other	Balance
	EQUIVALENTS			1 September			changes	31August
				2020				2021
	Cash at bank and in	hand		3,752,779	688,456			4,441,235
	Bank overdraft
				3,752,779	688,456			4,441,235

										2021 f	2020 f
Net	present	value	of	pension	deficit	contributions	payable	(note	22)	12,077	15,365

INCOME AND EX	PENDITURE IM	PACT
					2021	2020
Interest expense					75	161
Remeasurements	—impact of any	change	in assumptions		(16)	140
Remeasurements	—amendments	to the contribution		schedule
ASSUMPTIONS
					2021	2020
					%per	%per
					annum	annum
Rate ofdiscount					0.63	0.55

Office equipment	and vehicles	2021	2020
		E
Operating leases	which expire:
Under one year		43,745	13,582
Between two and	five years	30,970	10,348
		74,715	23,830