2021-07-31-accounts - The St Gabriel Schools Foundation

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		PAGE
Governors, Officers and Advisors		1-2
Report ofthe Charity Trustees (Governors'	Report)
Auditor's Report
Statement ofFinancial Activities		16
Balance Sheet		17
Cash Flow Statement		18
Notes to the Financial Statements		19-38

					Permanent	Year to	Year to
		Notes	Unrestricted	Restricted	Endowment	31July	31Ju/y
			Funds	Funds	Fund	2021	2020
INCOME FROM
Charitable activities
School fees receivable		4	5,264,014			5,264,014	5,101,774
Ancillary trading income		5	344,956			344,956	38/,455
Income from generated
funds:
Non-ancillary trading	income	6	17,364			17,364	23,032
Voluntary income:
Donations and grant	income	7	89150			89150	143882
Total			5 715484			5715484	5 650 143
EXPENDITURE ON
Charitable Activities
School operating costs			6,212,437		8,683	6,221,120	6,190,130
Raising funds
Finance costs		10	76666			76666	80560
Total		8	6289 103		8683	6297786	6270690
Net (expenditure)
before transfers			(573,619)		(8,683)	(582,302)	(620,547)
Transfers
Net movement in funds			(573,619)		(8,683)	(582,302)	(620,547)
Funds balances 1 August 2020			3539 191		606406	4 145597	4 766 144
Funds balances 31	July 2021		2 965572		597723	'+L'~	4 145597

		Notes	2021	2020
FIXEDASSETS
Tangible assets		13	4,820,201	5,025,435
Intangible assets		12	551	3,801
Investment assets		14	1	1
			4,820,753	5,029,237
CURRENT ASSETS
Stock			1,349	158
Debtors		15	2,059,014	1,752,178
Cash at bank and	in hand		1 031412	1057699
			3,091,775	2,810,035
CREDITORS: Amount due within one year		16	2600307	2 155960
NET CURRENT ASSETS			491468	654 075
TOTAL ASSETS	LESSCURRENT
LIABILITIES			5,312,221	5,683,312
CREDITORS: Amount due after more
than one year			1 748 926	1537715
NET ASSETS				4 145597
FINANCED BY
Unrestricted funds		21b	2,965,572	3,539,191
Endowed funds		21a	597723	606406
				4 145597

						Notes	2021	2020
Net movement in funds							(582,302)	(620,547)
Loss on sale ofassets							1,445	1,892
Decrease/(Increase) in stock							(1,191)	2,934
Decrease/(increase) in debtors							(306,836)	12,450
(Decrease) in creditors							433,211	(92,359)
Increase in deposits							32,675	9,175
Depreciation charge							253,450	293,419
Amortisation of intangible asset							3,250	3,250
Hire purchase interest								1,271
Bank interest Release of capital grant							53,458 ~1986	52,205 ~7941
Net cash provided by operating			activities				~114826	~344 251
Cash Flows from investing	activities
Purchase of intangible assets Purchase oftangible fixed assets							~49662	~181069
Net cash used in investing	activities						~49662	~181069
Cash flows from financing	activities
Repayment of loan							(1,581,908)	(50,892)
New loan							1,770,000
Bank interest paid							(43,015)	(53,476)
Capital element of hire purchase		repayments						(12,624)
Advanced fee scheme:
Receipts from new contracts
Amounts utilised and repaid							6876	43256
Net cash flows used in financing			activities				138201	160248
Change in cash and cash equivalents				in the
year						26,27	(26,287)	(685,568)
Cash and cash equivalents	at the		beginning		of
the year							1 087699	1 743267
Total cash and cash equivalents			at the end
ofthe year								1057699

			2021	2020
			F
Fees	receivable consist of:
Gross Less:	fees Scholarships,	Bursaries and Allowances	5,784,009 ~519995	5,591,645 ~489 871
				5 101774

				2021	2020
				F
Music fees and additional	sessions			99,122	115,371
Grant funding for individual	fees			21,535	17,841
Registration fees and fees	in lieu of notice			61,912	15,819
School bus				100,049	87,528
Recoverable expenses and school trips				57,379	90,588
Cafe takings and other income		including	late surcharges	4959	54 308
					381455
NON ANCILLARY TRADING INCOME
				2021	2020
				F
Hire offacilities					23032
GRANTS AND DONATIONS
				2021	2020
				F
Parent Teacher Association				1,236	4,203
Chartwells release of capital grant				1,986	7,941
Parents, staff and alumni for theatre plaques
Other donations				660	12,081
Parents waiver of 15%discount		on fees		6,478
WB early years grant				3,000
Grants to the School from:
HMRC JRS Furlough grant				75799	119657
				~iL3,'iQ	143882

OTAL R	ESOURC	ES		EXPENDED
				Staff	Depreciation		Other	Total	Total
				Costs				2021	2020
				F				f.
Charitable Expenditure
Teaching	costs			3,906,749	56,817		225,645	4,189,211	4,214,323
Welfare	costs			53,112	4,791		325,612	383,515	356,450
Premises	costs			230,330	163,109		351,919	745,358	738,932
Support	costs			483 803	28 733		390500	903036	880425
				4,673,994	253,450	1,293,676		6,221,120	6,190,130
Cost of	generating		funds
Finance	costs (note		10)				76666	76666	80560
				4 673994	253450	1	370 342	%426~16	6270690
Governa	nce included			in support costs
								2021	2020
								f.
Auditors	remuneration							12,140	13,750
Auditors	remuneration			—othe				1,400	1,675
Governors expenses								325	83
Other governance		costs						19360	18692
									34200

		Staff Costs	Depreciation	Other	Total	Total
					2020	2019
	Charitable Expenditure
	Teaching costs	3,919,980	71,285	223,058	4,214,323	4,193,229
	Welfare costs	50,819	15,129	290,502	356,450	436,280
	Premises costs	217,299	160,047	361,586	738,932	780,517
	Support costs	480 028	46958	353439	880425	1 051402
		4,668,126	293,419	1,228,585	6,190,130	6,461,428
	Cost ofgenerating	funds
	Finance costs (note 10)			80560	80560	67676
		4 668 126	293419	1309 145	6270690	6529 104
9.	STAFF COSTS
					2021	2020
					E
	Wages and salaries				3,592,941	3,628,345
	Social security costs				327,376	313,152
	Pension contributions				647574	651490
					4,567,891	4,592,987
	Agency and other costs				106103	75 139
	Total Staff costs				'94	4 668 126
					No.	No.
	The average number ofemployees in the		period was:
	Teaching staff				117	123
	Support staff				32	30
						153

								2021		2020
								No.		No.
The number ofemployees		whose	emoluments		exceeded f60,000were:
F60,000 —F70,000
F70,000 —F80,000
F80,000 —F90,000
F90,000 —F100,000
F100,000 —F110,000
Over F110,000
Number of higher paid	employees		contributing		to a pension		scheme
Total cost ofemployer's	contributions			in relation		to the above			8	49594
The governors received	no	remuneration		or other		benefits for	the year.

FINANCE
		2021	2020
		f.
Bank loan interest		53,458	52,205
Bank charges		17,081	3,597
Hire Purchase interest			1,271
Other interest
Bad debts written off Bad debts provision/(release)		19,852 ~13726	802 22 685
			80560
NET INCOME/(EXPENDITURE)
		2021	2020
		f.
Net income is stated after	charging:
Depreciation -owned assets		253,450	278,402
Depreciation -assets under	hire purchase		15,017
Operating leases		diRJÃiS	39178

	Website	Total
Cost
1 August 2020	9,750	9,750
Additions at cost
31 July 2021	9 750	9750
Amortisation
1 August 2020	5,949	5,949
Charge for the year	3250	3250
31 July 2021	9 199	9199
Net book values
31 July 2021
31July 2020	3801	~JI01

TANGIBLE FIXEDA	SSETS (conti	nued)
	Freehold		Furniture
	Land and	Freehold	and	Motor	Assets
	Buildings	Improvements	Equipment	Vehicles	under	Total
					construction
					F
Deemed Cost
1 August 2020	4,775,000	173,512	1,897,774	280,284	28,356	7,154,926
Additions at cost			39,467		10,195	49,662
Disposals at cost			(12,368)			(12,368)
Change ofcategory			28 356		28 356
31 July 2021	4 775 000	173512	1 953230	280 284	10 195	7192220
Depreciation
1 August 2020	625,164	9,543	1,238,545	256,239		2,129,491
Charge for year Adjustment on disposal	90,615	3,470	135,319 ~10923	24,046		253,450 ~10923
31 July 2021	715779	13014	1 362 942	280 284		2372019
Net book values 31July 2021		~I~	'jg~m			@I2L2t5
31Ju/y 2020	4 149836	163969	659229	24 045	28356	5 025435

he deeme	d cost as at 1 August 2015 is re	presented by:
		Freehold	Freehold	Total
		Property	Property
		Endowment	(Corporate
			Property)
Historical	costs less depreciation	325,450	3,895,654	4,221,104
Valuation	increase 1993	361,015	644,753	1,005,768
Valuation	increase 1994	147,714	115,072	262,786
Valuation	increase 2000	267,412	295,002	562,414
Valuation	increase 2003	19,460	37,507	56,967
Valuation	decrease 2008	(263,679)	(897,902)	(1,161,581)
Valuation	decrease 2013	(190,185)	(907,273)	(1,097,458)
Sandleford	Farmhouse		925 000	925 000
Total		667 187	4 107813	4 775 000

2021	2020
F

15.	DEBTORS
					2021	2020
					f.
	Trade debtors				1,867,523	1,550,555
	Other debtors				41,052	46,302
	Prepayments				150439	155321
						1 752 178
16.	CREDITORS: Amounts	falling		due within one year
					2021	2020
	Bank loans and overdrafts		(Note 18)		21,074	34,178
	Trade creditors				261,881	151,957
	Deposits held				176,575	143,900
	Social security 8 other	taxes			82,785	84,924
	Other creditors				98,760	94,574
	Accruals				54,478	58,211
	Capital Grant (Note 20)					1,986
	Advance fees (Note 19)					6,876
	Deferred income —fees billed			in advance	1 904754	1579354
						2 155960
17.	CREDITORS: Amounts	falling		due after more than one year
					2021	2020
	Bank Loans and Overdrafts		(Note 18)		1 748926	1537715
						1537715

OANS AND OVERDRAF	OANS AND OVERDRAF	TS
An analysis ofthe maturity		of	loans and overdrafts	is as follows:	2021	2020
					f.
Amounts	falling due within	one year or on demand
Bank loans					21 074	34 176
Amounts	falling due within	one year - Total			21,074	34,178
Amounts	falling due between		one and two years	- Bank loans	65,975	91,857
Amounts	falling due between		two and five years	- Bank loans	217,481	1,445,858
Amounts	falling due after	more than five years —Bank loans			1 465 470
						1571893

in the sch	ool, adva	nce	fees w	ill be ap	plied	as follows:
							2021		2020
							f.
Within 1	to 2 years
Within 1	year								6876
									6876
The balance represents			the accrued		liability	under the contracts.	The movements	during	the
year were:—
Balance	at 1 August 2020						6,876		50,132
New contracts
Amounts	accrued	to contracts					6,876		50,132
Amounts	utilised	in payment		offees	to the	school	(6,876)		(43,256)
Amounts	repaid
Balance	at 31July 2021								6876

			2020
Within	1	year	1,986
Between		2 and 5years
			1886

2021				Incoming	Outgoing
			2020	resources	Resources	Transfers		2021
Designated		Funds:
M Frenkel		Fund	400		(1o)			390
General	Fund		3538791	5715484	~6289 093		2	965182
			3539 191	~2a684
2020				Incoming	Outgoing
			2019	resources	Resources	Transfers		2020
Designated		Funds:
M Frenkel		Fund	410		(f0)			400
General	Fund		4 150645	5 650 143	~6261997		3538791
			4 151055	5 650 143	~6262 007		3	539 191

22.	ANALYSIS	OF NET	ASSETS BE	TW	EEN	FU	NDS
	2021							Net
			Intangible				Fixed	Current	Creditors
			Assets				Assets	Assets	&one year	Total
				f.			F	F	F	F
	Endowment	Funds					597,723			597,723
	Restricted	Funds
	Unrestricted	Funds			551	4 222 479		491468	~3748 926	2965572
	2020
			Intangible				Fixed	Net Current	Creditors
			Assets				Assets	Assets	&one year	Total
	Endowment	Funds					606,406			606,406
	Restricted	Funds
	Unrestricted	Funds		3	801	4419030		654 075	~1537715	3539 191
				3	801	5 025436		654 075	~1537715	4 145597
23.	CAPITAL COMMITMENTS
									2021	2020
	Future expenditure		not otherwise	included		in	these accounts
	Contracted	for

t 31 July 2021 the school had future minimum le eases as follows:	ase payments under non- cancellable	operating
	2021	2020
Within one year	35,153	38,843
Between two and five years	13552	42 124
	~~}5	80967

						2021	2020
						F
Financial	assets measured		at amortised	cost		2,939,987	2,654,556
Financial	liabilities	measured	at amortised		cost	2,361,694	2,022,521

	The school's	income, expense, gains and losses	income, expense, gains and losses	income, expense, gains and losses	in respect	of financial	instruments	summarised
	below:
	Interest expense for financial liabilities			held at amortised	cost		53,458	53,476
	Impairment	loss/(gain).					(13,725)	22,685
26.	RECONCILIATION OF NET CASH FLOW TO MOVEMENT					IN NET DEBT
							2021	2020
	(Decrease)	in cash in the	year				(26,287)	(685,568)
	Loan Movements
	Change in	net debt					(224,394)	(634,676)
	Net debt at	1 August
	NET (DEBT)IFUN DS AT		31JULY					514 194
27.	ANALYSIS	OF CHANGE	IN NET DEBT

						Net debt as at	Cash	Non-cash	Net debt as at
						1August 2020	Change	change	31July 2021
							F
Cash Loans	at	bank	and	in	hand	1,057,699 ~1571893	(26,287) ~188092	~10015	1,031,412 ~1770000
						~514194	~214379	~10015	~+5@

				Permanent	Year to
		Unrestricted	Restricted	Endowment	31July
		Funds	Funds	Fund	2020
INCOME FROM
Charitable activities:
School fees receivable		5,101,774			5,101,774
Ancillary Tradingincome		381,455			381,455
Generating funds:
Non-ancillary trading income		23,032			23,032
Voluntary income:
Donations		143882			143882
Total		5650 143			5 650 143
EXPENDITURE	ON
Charitable Activities:
School operating	costs	6,181,447		8,683	6,190,130
Raising funds:
Finance costs		80560			80560
Total		6262 007		8683	6220 690
Net incomel(expenditure)
before transfers		(611,864)		(8,683)	(620,547)
Transfers
Net movementin	funds	(611,864)		(8,683)	(620,547)
Funds balances	1August 2019	4 151055		615089	4 266 144
Funds balances	31July 2020	3539 191		606406	4 145597