2022-08-31-accounts - Eltham College

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arity Trustee body, was as follo	ws during the year:
NAME				COMMITTEES		OTHER
		F	E	J	A	HS
Mr P Doyle (Chairman)		0	0
Mr P Ashcroft*					0
Mrs FBrown*					0
Mr M Curry
Mr G Dransfield	Resigned 31.8.22	0
Mr M Fosten
Rev W Hawkins
Mr LJagger"		0
Mr A Neden		4	0
Mr 8O'Donoghue*
Mr0 Obidipe
Mrs A Paterson
Mr A Spencer	Resigned 2.9.21

Key management	Key management	personnel
Headmaster:			Mr G Sanderson MA (Oxen) FRSA
Bursar:			Mr A Butterworth MA (Cantab) DChA (resigned 22 August 2022)
			Mr R Wilkinson OBE(appointed 22 August 2022)
Head ofthe Junior		School:	Mrs V Meier
Deputy Heads:			MrJ Martin (Senior	School)
			Mrs A Massey (Senior School)
			Mr E Wright (Senior	School)
			Mrs N Devon (Junior School)
			Mr A Taylor (Junior	School)
Registered	Office
			Eltham College
			Grove Park Road
			Mottingham
			London SE94QF
Advisers
Bankers:			Barclays Bank Pic
			5n Floor Corinthian	House
			17Lsnsdowne 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 Limited
			7/8 Innovation Place
			Douglas Drive
			Godalming
			Surrey GUT 1JX

he fees.	In this year w	e provided financ
Yr7	5 bursaries,	46 scholarships
Yr8	2 bursaries,	53scholarships
Yr9	4 bursaries,	37scholarships
Yr 10	3bursaries,	39scholarships
Yr 11	1 bursary, 34scholarships
L6	11 bursaries,	70 scholarships
U6	11 bursaries,	67scholarships

	GHG emissions and	energy use data for pe	riod 1 September 2021 to 31Augu	st 2022:
			Baseline Reporting Year 2020-2021	Current	Reporting 2021-2022	Year
			UK GHG Emission	and Energy	Data
	Energy consumption emissions (kWh); all	used to calculate mandatory	4,287,701.3	3,976,525.8
'	energy sources are	included.
i	Scope 1:Emissions from the combustion of Natural Gas tCOze		587.9		510.94
I	Scope 1:Emissions of Fuel for transport	from combustion and / or heating	15.0		30.1
	tCOze iz~id k	I s kd
	Scope 1:Emissions Pellets tCO2e	ofBiomass	NA		NA
	Scope 3:Emissions	from business
	travel in employee-owned vehicles,
	where the company	repaid mileage	NA		NA
	claims tCOze (average vehicle Ifuel
	source unknown)
	Scope 2: Emissions	from purchased	226.6.5		214.4
	Electricity ICOze
	Total gross COze based on above		829.5		756.1
	(tCOze)
	Intensity Ratio: kg COze gross based
	on mandatory fields during the academic (kg COze per Pupil)	above per Pupil year:	813.28 kg COze per Pupil	729.82 kg COze per (1036pupils)		Pupil

Eltham College Indèpèndent Auditor's Raport to the Members of Eltham College For The Year Ended 31 August 2022 A fvrther de¥¢riptiDll of our responsibilits'es is availab on the FinclaI Reporting CouneAls wabsfte at.. ttps..lthw.fr¢.org.uklOur-WorklAuditlAudit-and-assuranc8lStsndards-and-guidanStandafds-a0dUinCe40r uditorslAudltors-responsibiliti85.for.audiVDe$crfption-of-auditOTS-rgspon$ibilrti&%-for- audit.aspx. This de8CriPti lorms part of our alItorS report Use of our Report This r&port is made solely lo the Group and chantsble company's rnernb8rs, as a body, in aCCLJrdancewlth Chapter 3 of Part 16olthe CO[nnIeS Acl 2006. Our audilwork has been undertaken sothat wernt st8tètothè charilab company's rnarnbèrs those matters we are required to statè to them in an auditor's report and for r other purpDSe. Tothefullest extent peFmitl¢d by law, we not accept or 85sum8 isponsibi16ty to anyoneother th8n th8 tharitable company ancl the charitabk eompany's members as a body, for our audit work, for this report, or ftjr the opiniot we h8vg f¢yrned. John HOrd FCA IS•nlor Statutory Audltor) For and on b¢h8lf of Azets Audrt Services Ststuiory Auditor 2d Floor. Regis House 45 Kirwd Willlam Stre8t London EC4R 9AN Data.. 19

			Unrestricted	Funds	Restricted	Endowed	Total	Total
		Notes	School	Other	Funds	Funds	2022	2021
				8	8	6	6
INCOME
Income from charitable	activities:
School fees receivable		2	19,748,562				19,748,562	18,719,987
Less: awards		2	(2,409,490)		(19,671)		(2,429,161)	(2,479,531)
Other educational income		3	217,949				217,949	195,849
Other ancillary trading	income	3	1,234,113				1,234,113	1,058,427
Income from other trading
activities:
FSSM Ltd income				551,969			551,969	388,771
Income from generated Investment income	funds:		25,218	11,467	3,130	23	39,838	17,229
Donations and appeal receipts				18,537	430,304		448,841	247,227
Rents and Lettings			98,931				98,931	68,277
Total			18,915,283	581,973	413,763	23	19,911,042	18,216,236
EXPENDITURE
Costs of raising funds: Fund-raising			52,504	18,537	120,950		191,991	170,206
Financing costs FSSM Ltd costs			502,926	471,816			502,926 471,816	510,414 444,860
			555,430	490,353	120,950		1,166,733	1,125,480
Charitable Activities:
Schools and grant making			17,504,897		4,412		17,509,309	16,108,734
Pension scheme deficit funding		22	(9,718)				(9,718)	(3,288)
arrangement
Total		5	18,050,609	490,353	125,362		16,666,324	17,230,926
NET INCOMINGI(OUTGOING)			864,674	91,620	288,401	23	1,244,718	985,310
RESOURCES
Transfers between funds		6	17,963	(5,640)	(12,300)	(23)
Investment gains/(losses)				(5,827)	(5,295)		(11,122)	79,226
			882,637	80,153	270,806		1,233,596	1,064,536
NET INCOMEI(DEFICIT)			962,790		270,806		1,233,596	1,064,536
Fund Balances at 1 September 2021			10,308,257		214,462	32,559	10,555,278	9A90,742
Fund Balances at 31August 2022			11,271,047		485,268	32,559	11,788,874	10.555,278

		Notes	Group	Group	School	School
			2022	2021	2022	2021
			8	6	6	8
Fixed assets
Intangible assets Tangible assets Investment assets		7 8 9	6,285 30,537,757 519,424	6,285 28,777,580 530,547	30,496,373 519,426	28,719,029 530,549
			31,063,466	29,314,412	31,015,799	29,249,578
Current assets
Stocks			2,592	1,858
Debtors		10	806,294	644,410	764,595	661,267
Cash			4,045,857	4,441,235	4,037,896	4,440,551
			4,654,743	5,087,503	4,802,491	5,101,818
Creditor: Amounts	falling due
within one year		11	(4,907,060)	(4,612,003)	(4,901,388)	(4,575,578)
Net current assets/(liabilities)			(52,317)	475,500	(98,897)	526,240
Total assets less current
assets/(liabilities)			31,011,149	29,789,912	30,916,902	29,775,818
Creditors: Amounts	falling due
aher more than one	year	12	(19,219,916)	(19,222,557)	(19,219,916)	(19,222,557)
Provisions for liabilities		21	(2,359)	(12,077)	(2,359)	(12,077)
Net assets			11,788,874	10,555,278	11,694,627	10,541,184
Endowedfunds		15a	32,559	32,559	32,559	32,559
Restricted funds		15b	485,268	214,462	485,268	214,462
Unrestricted funds
Designated and general funds		15c	11,271,047	10,308,257	11,176,800	10,294,163
Totalfunds		15	11,788,874	10,555,278	11,694,627	10,541,184


				Notes	f
Cash flows from operating	activities			17		3,886,470		3,645,139
Cash flows from investing	activities:
Investment income received					14,620		14,306
Interest received					25,218		6,689
interest paid					(502,927)		(510,414)
Payment for tangible fixed assets					(3,096,533)		(1,772,474)
						(3,559,622)		(2,261,893)
Net cash flow before financing		activities				326,848		1,383,246
Cash flow from financing	activities			18
Repayment of borrowing						(722,226)		(694,790)
Change in cash and cash the year	equivalents		in	19		(395,378)		688,456
Cash and cash equivalents	brought forward					4,441,235		3,752,779
Cash and cash equivalents at 31August 2022				19		4,045,857		4,441,235

		2022	2021
			6
Gross charitable	income	19,911,042	18,216,236
Charitable expenditure		18,666,324	17,230,926
Net income for	the year	1,244,718	985,310

EXPENDITURE		2022	2021
		5	5
Governance expenditure	includes:
Auditors' remuneration:
For audit servioes		18,600	17,800
For other services		660	1,380
Total staff costs comprised:
Wages and salades Social security costs Pension contributions		9,467,108 1,035,651 1,542,983	8,939,772 936,034 1,604,445
		12,045,742	11,480,251

The average number ofemployees	Number	Number
Academic	159	157
Administration	53	45
Other	65	68
	277	270

The number ofemployees whose emoluments exce	eded 260,000were:
F60,001 - f70,000	19	17
F70,001 - F80,000	10	6
F80,001 —F90,000	1	1
f90,001 - F100,000	2	2
5100,001 -2110,000	1
f110,001 - 2120,000 f120,001 —F130,000	1
f.190,001 - 2200,000
F240,001 - 5250,000

ANALYSIS OF TOTAL RESOU	RCES EXPENDED
	Staffcosts	Other	Depreciation	Total	2021
	(note 4)
Costs ofraising funds:
Fund-raising	188,283	3,708		191,991	170,206
Finance costs		502,926		502,926	510,414
Trading costs ofsubsidiary		471,816		471,816	444,860
	188,283	978,450		1,166,733	1,125,480
Charitable activities:
Teaching costs	9,597,189	923,224		10,520,413	9,953,343
Welfare		800,351		800,351	618,906
Premises	991,714	806,844	1,319,189	3,117,747	2,869,362
Support costs	1,251,056	1,783,240		3,034,296	2,623,854
School's operating costs	11,839,959	4,313,659	1,319,189	17,472,807	16,065,465
Grants Awards and prizes		1,049		1,049	2,690
Governance costs	17,500	17,953		35,453	40,579
Total	11,857,459	4,332,661	1,319,189	17,509,309	16,108,734
Pension scheme deficit
arrangement		(9,718)		(9,718)	(3,288)
Total expenditure	12,045,742	5,301,393	1,319,189	18,666,324	17,230,926

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

TANGIBLE FIXEDASSETS
	Freehold		Furniture
	Land and	Leasehold	and	Motor
	Buildings	Land	Equipment	Vehicles	Total
	6	6	5	6	8
GROUP
Cost
At 1 September 2021 Additions	37,610,880 2,780,413	825,000	4,769,718 316,120	31,506	43,237,104 3,096,533
Disposals
At 31 August 2022	40,391,293	825,000	5,085,838	31,506	46,333,637
Depreciation At 1 September 2021 Charge for year	10,458,272 982,114	303,875 16,500	3,665,871 337,742	31,506	14,459,524 1,336,356
Disposals
At 31 August 2022	11,440,386	320,375	4,003,613	31,506	15,795,880
Net book values
At 31August 2022	28,950,907	504,625	1,082,225		30,537,757
At 31 August 2021	27,152,608	521,125	1,103,847		28,777,580
SCHOOL
Cost
At 1 September 2021	37,610,880	825,000	4,666,304	31,506	43,133,690
Additions	2,780,413		316,120		3,096,533
Disposals
At 31 August 2022	40,391,293	825,000	4,982,424	31,506	46,230,223
Depreciation
At 1 September 2021 Charge for year	10,458,272 982,114	303,875 16,500	3,621,008 320,575	31,506	14,414,661 1,319,189
Disposals
At 31 August 2022	11,440,386	320,375	3,941,583	31,506	15,733,850
Net book values
At 31August 2022	28,950,907	504,625	1,040,841		30,496,373
At 31 August 2021	27.152.608	521,125	1,045,296		28,719,029

Profit and loss	Profit and loss	account	2022
			8
Turnover			519,813
Cost ofsales			(18,487)
Gross profit			501,325
Other inoome			32,155
Administrative	and other expenses		(453,329)
Net profit(before		Gift Aid)	80,152
Net assets as	at	31 August 2022	87,963

	CREDITORS: Amounts	falling due within	falling due within	Group		School	School
	one year			2022f	2021f	2022f	2021f
	Bank loans and overdraft (note Fees received in advance		13)	713,760 1,597,958	719,363 1,389,076	713,760 1,597,958	719,363 1,389,076
	Advance fee payments (note 14) Other creditors	under contract		1,082,179 621,276	1,050,425 967,394	1,082,179 617,180	1,050,425 963,432
	Inter-company creditor					16,825
	Social security &other Accruals	taxes		285,772 303,615	23,444 175,801	268,121 302,865	166,782
	Fee deposits			302,500	286,500	302,500	286,500
				4,907,060	4,612,003	4.901,388	4,575,578
12.	CREDITORS: Amounts	falling due after more		than one year
						2022	2021
	Group and School Bank loans (note 13) Fee deposits Advance fee payments	under contract (note 14)			14,562,833 2,128,588 2,528,495		15,279,456 2,136,139 1,806,962
					19,219.916		19,222,557
13.	FINANCIAL INSTRUMENTS					2022f	2021
	Group and School
	The bank loans and overdraft		are repayable	by instalments:
	Between one and two Bank loan	years				739,771	739,937
	Between two and five Bankloan	years				2,382,560	2,366,157
	Due after more than five years
	Bank loan					11,440,502	12,173,362
						14,562,833	15,279,456
	Due within one year Bank loan &overdraft					713,760	719,363
	Total borrowings					15,276,593	15,998,819

		2022	2021
		6	6
Group and School After 5years Within 2 to 5years Within 1 to 2 years		577,053 1,331,536 619,906	392,120 841,032 573,810
		2,528,495	1,806,962
Within	1 year	1,082,179	1,050,425
		3,610,674	2,857,387

Balance at 1 September 2021 New contracts	Balance at 1 September 2021 New contracts	Balance at 1 September 2021 New contracts	2,857,387 1,803,712	2,205,630 1,813,799
			4,661,099	4,019,429
Amounts	utilised in payment	offees	(1,050,425)	(1,162,042)
Balance	at31August 2022		3,610,674	2,857,387

	The net assets a	re held	for the various fund	s as follows:
			Tangible
			Fixed	Investments	Net Current	Long Term
	Group		Assets 6	&Goodwill f	Assets 6	Liabilities	Total 6
	Endowed funds				32,559		32,559
	Restricted funds			111,944	373,324		485,268
	Unrestricted funds		30,537,757	413,765	(458,200)	(19,222,275)	11,271,047
			30,537,757	525,709	(52,317)	(19,222,275)	11,788,874
	School
	Endowed funds				32,559		32,559
	Restricted funds			111,944	373,324		485,268
	Unrestricted funds		30,496,373	407,482	(504,780)	(19,222,275)	11,176,800
			30,496,373	519,426	(98,897)	(19,222,275)	11,694,627
15a.	ENDOWED FUNDS		Balance				Balance
			1 September	Incoming	Resources		31August
			2021	Resources	Expended	Transfers	2022
			5		6	6	8
	Other Endowed	Funds	23,208	16		(16)	23,208
	Prize Trust Fund		7,203			(5)	7,203
	ECPA (Neville Wood)
	Leaving Trust		2,148			(2)	2,148
			32,559	23		(23)	32,559

	CASH INFLOW FROM OPE	RATIONS
				2022			2021
				8
	Net Incoming Resources				1,244,718		985,310
	Depredation charge		1,336,356			1,266,224
	Investment income received		(14,620)			(14,306)
	Interest received		(25,216)			(2,923)
	Interest paid		502,927			510,414
	(Increase) in stock			(734)
	(Increase) in debtors Increase in creditors		(161,884) 1,014,643			(110,055) 1,013,763
	(Decrease) in provision			(9,718)	2,641,752	(3,288) 2,659,829
	Net cash inflow from operations				3,886,470		3,645,139
18.	ANALYSIS OF CHANGES	IN FINANCING				2022	2021
	Loans:
	Balance 1 September 2021					15,998,819	16,693,609
	New loans advanced
	Loan repayments					(722,226)	(694,790)
	Balance at 31August 2022					15,276,593	15,998,819
19.	ANALYSIS OF CASH AND	CASH	Balance	Cash	flows	Other	Balance
	EQUIVALENTS		1 September			changes	31August
			2021				2022
	Cash at bank and in hand		4,441,235	(395,378)			4,045,857
	Bank overdraR
			4,441,235	(395.378)			4,045,857

were as set out b	elow:
Office equipment	and vehicles	2022 6	2021
Operating leases	which expire:
Under one year Between two and	five years	48,149 91,114	43,745 30,970
Over five years		23,550
		162,813	74,715