|||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|
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||||||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|
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||||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|
##
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##
|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|
##
||||2021|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|in respect|of financial|instruments|are|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@|
##
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##
|||||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|