REGISTERED COMPANY NUMBER: 03583140 (England and Wales) REGISTERED CHARITY NUMBER: 1070235
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 August 2020
for
Ghyll Royd School
Walkers Accountants Limited Aireside House Aireside Business Centre Royd Ings Avenue Keighley West Yorkshire BD21 4BZ
Ghyll Royd School
Contents of the Financial Statements for the year ended 31 August 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 7 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 to 11 |
| Cash Flow Statement | 12 |
| Notes to the Cash Flow Statement | 13 |
| Notes to the Financial Statements | 14 to 23 |
| Detailed Statement of Financial Activities | 24 to 25 |
Ghyll Royd School
Report of the Trustees for the year ended 31 August 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objects and public benefit
Ghyll Royd school is a registered charity whose charitable objective is the education of children aged 3 to 11. Any surpluses are re - invested in the charity for the purpose of enhancing the facilities and resources available. The trustees are aware of and have complied with the duty in section 2 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charities Commission. One of the school's objectives is to make education at Ghyll Royd available to pupils whose families could not otherwise afford the fees through provision of assistance.
Pupils learn about charitable projects in assemblies, in lessons and through guest speakers. Pupils then organise charitable work to support local, national and international charities. This academic year pupils have been actively involved in raising funds for Macmillan Coffee Morning, Firefighter's Charity Collection, Educate the Kids and The Poppy Appeal.
The strength of the school is founded upon its excellent pastoral care, enhanced learning opportunities in small classes with first class teachers and endless excitement beyond the classroom. Friendliness and consideration of others contributes to strong family atmosphere within the school. Children can relish their childhood whilst preparing for the senior school that best suits them.
Objectives for the year
The board of trustees' main objective continued to be to educate all the school's pupils to at least the same high standard as achieved in previous years. Our strategy for achieving this is to limit class sizes in order to maintain a high teacher to pupil ratio which allows us to tailor our provision to suit the needs of individual pupil. Ghyll Royd is small enough to ensure there is a caring environment where each child is known and valued, yet is large enough to provide a wide range of facilities enabling us to combine excellent teaching with a great variety of activities. We want the children to feel safe but at the same time challenged and understand that good behaviour is highly valued, and unpleasantness is not accepted.
Principal Activity
The principal activity of the charitable company is to carry on and develop the school for the education of its pupils and to provide them with the appropriate facilities necessary for this purpose.
At the end of the academic year 2019/20 there were 64 pupils in the school and 33 children attended preschool on a part and full time basis. This compares to 65 pupils in the school and 27 children in the preschool in the prior year. The nursery expanded to opening 50 weeks a year in 2019/20 and 11 children were enrolled in the extra nursery weeks by the end of the academic year.
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Ghyll Royd School
Report of the Trustees for the year ended 31 August 2020
STRATEGIC REPORT Achievement and performance
Review of Achievements and performance for the year
The pupils that left the school in July 2020 achieved a 100% success rate in their senior school entrance exams.
In order to attain the highest achievements, the school takes the best from the National Curriculum and go beyond it to offer greater breadth and depth. The curriculum is designed to suit the needs of the children as they grow up in an ever increasingly technological world which demands not just the knowledge but also to skills to implement the knowledge.
In 2019/20 the school were finalists after been shortlisted, for the second year running, in the Independent School of the year award and the school placed in the Top 10 Preparatory in the country in the Sunday Times 2020 Schools Guide.
Broad horizons are developed unhindered by league tables and national tests. Nevertheless, there are assessments of effort and progress which pupils and parents receive regular reports on.
Being physically active is an important part of the school with the children taking part in a wide range of sports, focussing on rugby, hockey, cricket, netball, swimming and rounders. The Sports Hall and the pitches are in daily use by enthusiastic children and experienced coaches.
Music, Drama and Art also play an important part of the time spent at the school. Opportunities continue to exist for every child to learn an instrument and all children in the lower school have taken part in the Christmas nativity. In Art children are encouraged to develop their creative talents expressing themselves in a variety of ways.
The Covid-19 pandemic impacted the school greatly this year. The school and nursery were physically closed from Friday 20th March 2020 and partial reopening started from Monday 8th June 2020. The school invested heavily in online teaching technologies and a full virtual timetable was rolled out to all school aged children from 20th April 2020. The staff's dedication to the school and pupils was highlighted by the level of extensive training they undertook over the Easter holidays to ensure the virtual lessons were successful. The Distance Learning in Teams Experience (DLiTE) was extremely successful with all staff, children and parents expressing how well it had been planned and rolled out and how much the children benefitted from it.
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Ghyll Royd School
Report of the Trustees for the year ended 31 August 2020
STRATEGIC REPORT Achievement and performance
Access to the school
The school ensures wider access to our schooling with fee reductions being offered to many families. In 2019/20 26 children in the school received support in the form of bursaries and scholarships.
The school is committed to enabling all young people to study at the school where they have met the minimum entry standards, regardless of the financial circumstances of their parents. In addition, support has been found to enable pupils to remain at the school where their parents have encountered serious financial difficulties. This broadens the social mix of pupils in the school and the trustees believe that this is of substantial benefit to both pupils and the community as whole.
The Vision for the School includes opportunities to support the community which this academic year included a venue for The Wharfedale Cross County League.
Pupils learn about charitable projects in assemblies, in lessons and through guest speakers. Pupils then organise charitable work to support local, national and international charities. This academic year's activities were restricted by Covid-19 pandemic but pupils have been actively involved in raising funds for the Children's Heart Surgery Fund via the Virtual Ilkley Half Marathon,Macmillan Coffee Morning, and Children in Need and The Poppy Appeal. .
The school encourages partnerships with local maintained schools and regularly participates in locally organised sports events with the Schools Sports Partnership.
The school hosts a weekly Stay and Play session, inviting local families into school for art, music and play. The children also took pride in helping tidy up the flower beds at the war memorial in the town and read out war poems in a remembrance service.
The school grounds are regularly used by local businesses and sports clubs including Ilkley Harriers and Burley Trojans FC. Several organisations, including Olicana Gymnastics, use the sports hall each week both in the evenings and at the weekends. The hall is considered a valuable asset by numerous clubs in the community. The hall is also often used for children's parties. The usage of the facilities was greatly reduced this year due to the pandemic however when Government guidance allowed it, the facilities were used regularly.
The school regularly invites local independent and state schools over for sports fixtures to use the facilities, and this year the grounds were used for the Wharfedale Cross Country league , other events were unfortunately cancelled due to the pandemic. Local residents also use the grounds for recreational use by prior arrangement.
The school hosted Camp Xplode during the summer holidays who offer adventurous activities such as team sports, bushcraft, drama and crafts to boys and girls from the surrounding area.
Community links
Sports facilities including the sports hall are used extensively by local clubs throughout the year. Local schools take part in sports events and the summer camp is attended by many local children.
The school employs 31 people, a large proportion of whom are based in the local area. Whenever possible, food and other supplies which are needed for the day to day running of the school are purchased locally, and if it becomes necessary for any maintenance work local contractors are again wherever possible hired to carry out the work.
Financial review
Annual review
The school pupil numbers have decreased to 64 and the number of children attending preschool was 33 which is broadly in line with the previous year. It is the aim of the Management Committee and the Head Teacher to achieve continued growth which is predicted to occur in the next year. This reflects the excellent quality of education and pastoral care provided by the school.
Page 3
Ghyll Royd School
Report of the Trustees for the year ended 31 August 2020
STRATEGIC REPORT Financial review
Reserves policy
Note 18 of the financial statements show unrestricted funds amounting to £322,942. There are no funds freely available because of the amounts invested in fixed assets. The board has determined that the appropriate level of free reserves which are not invested in tangible fixed should be equivalent to 10 weeks expenditure, approximately £180,000.
Our policy is, therefore, to build up reserves to that level by means of the annual operating surpluses, which are now anticipated due to the predicted increase in the number of pupils attending the school.
The board has continued to keep the overdraft facility under review to ensure that in the absence of any free reserves, it remains adequate to cover the school's working capital requirements
Financial Review
The school has operated with surplus for the current year which is mainly due to the successful expansion of the nursery to 50 weeks, effective fee collection during the pandemic with no across the board fee reduction offered during school closure and the Government Furlough Scheme which was utilised for staff when the criteria was met. These mitigated the significant revenue that was lost from facilities hire, before and after school club, events and lunch revenue.
The top half of the school continues to have strong pupil numbers as does the preschool, and the school expects to operate with a small surplus for the next year, plans are being made in school to ensure that the school continues to operate with a surplus in future years. All income is made available for investment in the school and its teaching resources, curriculum, marketing and pupil facilities.
Future plans
Key objectives:
-
The School's development plan is a working document and is visited at each Management Committee meeting.
-
To increase the pupil roll to over 120
-
To continue to review the academic syllabus
-
To balance academic achievement through maintaining a curriculum, this allows for a full scope of development of sport and the arts
-
To expand on the sporting facilities and pupil sporting abilities within the school
-
To continue to provide excellent pastoral care
-
To continue to involve the community in the sporting and social events
-
To develop and increase the number of girls in the school
-
To prepare ideas and plans relating to building and site for the next stage of the strategic plan.
-
To develop pre- school as a feed for the main school
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 12 June 1998 and registered as a charity on 26 June 1998. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
Recruitment and appointment of new trustees
The directors of the company are also charity trustees for the purposes of charity law and under the company's articles are known as Members of the Management Committee.
The trustees of the charity have been put together to cover experience and knowledge in the areas of commerce, marketing, property, finance, law and legislation. All directors give of their time freely and share a passion and commitment needed to ensure the school remains a success.
As set out in the Articles of Association, one third of the trustees must return annually by rotation if necessary. This year Alistair Freegard, Paul Nolan and Andrew Barrett all retired. A governor recruitment exercise was launched in September 2019 to enhance and strengthen the board and Anna Bedford Collins, Anthony Simpson, Robert Powls, Emma Usherwood, Mike Picken, Maxine Heppenstall and Vicky Wood all joined the Management Committee.
Page 4
Ghyll Royd School
Report of the Trustees for the year ended 31 August 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure
The management team consists of the Management Committee; the head teacher and bursar are invited guests at each meeting. Meetings take place approximately once every term. Day to day organisation is conducted by the head teacher, with periodic meetings and reports with the Chair of Governors or other governors where appropriate.
The School's objective is to provide an excellent quality of education for its pupils, whilst being of benefit to the local community, by holding public sporting and local events for everyone.
Induction and training of new trustees
Most new members of The Management Committee are already familiar with the workings of the school, and its charitable status. An induction meeting is led by the Chair of Governors, with other current members of the Governing body in attendance.
Areas covered at induction include the main obligations of a Governor and trustee in capacities, the operational framework for the Charity, resourcing and current financial position as set out in the published accounts, and future plans and objectives.
Key management remuneration
The trustees consider that senior management team comprises the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee received remuneration in the year. Details of key management personnel benefits are disclosed in note 9.
The pay of the senior management team is reviewed annually and normally increased in accordance with average earnings.
Risk management
The trustees examine the major risks the school face each financial year when preparing and updating the strategic plan. The charity has developed systems to monitor and control these risks to mitigate any impact that they might have on the school in the future.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
03583140 (England and Wales)
Registered Charity number
1070235
Registered office
Greystone Manor Burley In Wharfedale Ilkley West Yorkshire LS29 7HW
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Ghyll Royd School
Report of the Trustees for the year ended 31 August 2020
Trustees
A N Freegard (resigned 31.7.20) P R Nolan (resigned 28.8.20) P M Barrett (resigned 1.2.20) P H Stephenson Mrs A J Bedford Collins (appointed 11.11.19) A Simpson (appointed 11.11.19) R G Powls (appointed 11.11.19) Mrs E C Usherwood (appointed 11.11.19) M J Picken (appointed 11.11.19) Mrs M S Heppenstall (appointed 1.2.20) Mrs V E Wood (appointed 1.2.20)
On the 11 November 2019, Mrs A J Bedford Collins, A Simpson, R G Powls, Mrs E C Usherwood and M J Picken were appointed trustees.
On the 1 February 2020 Mrs M S Heppenstall and Mrs V E Wood were appointed trustees
Company Secretary
E S Smeaton
Independent Examiner
Andrew Day ACA Walkers Accountants Limited Aireside House Aireside Business Centre Royd Ings Avenue Keighley West Yorkshire BD21 4BZ
Senior Management Team
D Martin Head Teacher
H Nicholson Deputy Head Teacher
Solicitors
Clarions Elizabeth House 13 - 19 Queen Street Leeds West Yorkshire LS1 2TW
Bankers
Lloyds TSB Bank PLC 45 Hustlergate Bradford West Yorkshire BD1 1NT
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Ghyll Royd School
Report of the Trustees
for the year ended 31 August 2020
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:
........................................................................ P H Stephenson - Trustee
Page 7
Independent Examiner's Report to the Trustees of Ghyll Royd School
Independent examiner's report to the trustees of Ghyll Royd School ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ACA which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Andrew Day ACA Walkers Accountants Limited Aireside House Aireside Business Centre Royd Ings Avenue Keighley West Yorkshire BD21 4BZ
Date: .............................................
Page 8
Ghyll Royd School
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31 August 2020
| 31.8.20 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 - Charitable activities 4 School Fees and disbursements 674,557 Other trading activities 3 892 Other income 44,826 Total 720,275 EXPENDITURE ON Raising funds 5 40,479 Charitable activities 6 650,687 Total 691,166 NET INCOME/(EXPENDITURE) 29,109 RECONCILIATION OF FUNDS Total funds brought forward 293,833 TOTAL FUNDS CARRIED FORWARD 322,942 |
31.8.19 Total funds £ 100 609,196 1,325 32,778 643,399 36,761 686,162 722,923 (79,524) 373,357 293,833 |
|---|---|
The notes form part of these financial statements
Page 9
Ghyll Royd School
Balance Sheet
31 August 2020
| 31.8.20 Unrestricted funds Notes £ FIXED ASSETS Tangible assets 12 524,205 CURRENT ASSETS Debtors 13 151,047 Cash at bank and in hand 70,065 221,112 CREDITORS Amounts falling due within one year 14 (342,375) NET CURRENT ASSETS (121,263) TOTAL ASSETS LESS CURRENT LIABILITIES 402,942 CREDITORS Amounts falling due after more than one year 15 (80,000) NET ASSETS 322,942 FUNDS 18 Unrestricted funds 322,942 TOTAL FUNDS 322,942 |
31.8.19 Total funds £ 541,513 140,161 7,643 147,804 (305,484) (157,680) 383,833 (90,000) 293,833 293,833 293,833 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
The notes form part of these financial statements
continued...
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Ghyll Royd School
Balance Sheet - continued 31 August 2020
............................................. P H Stephenson - Trustee
The notes form part of these financial statements
Page 11
Ghyll Royd School
| Cash Flow Statement for the year ended 31 August 2020 31.8.20 Notes £ Cash flows from operating activities Cash generated from operations 1 107,511 Interest paid (1,263) Interest element of hire purchase payments paid (426) Net cash provided by/(used in) operating activities 105,822 Cash flows from investing activities Purchase of tangible fixed assets (4,889) Net cash used in investing activities (4,889) Cash flows from financing activities New loans in year - Loan repayments in year (10,000) Capital repayments in year (4,000) Net cash (used in)/provided by financing activities (14,000) Change in cash and cash equivalents in the reporting period 86,933 Cash and cash equivalents at the beginning of the reporting period 2 (16,868) Cash and cash equivalents at the end of the reporting period 2 70,065 |
31.8.19 £ (78,083) (370) (1,371) (79,824) (1,761) (1,761) 40,000 - (4,820) 35,180 (46,405) 29,537 (16,868) |
|---|---|
The notes form part of these financial statements
Page 12
Ghyll Royd School
Notes to the Cash Flow Statement
for the year ended 31 August 2020
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| OPERATING ACTIVITIES | ||||
|---|---|---|---|---|
| 31.8.20 | 31.8.19 | |||
| £ | £ | |||
| Net income/(expenditure) for the reporting period (as per the | ||||
| Statement of Financial Activities) | 29,109 | (79,524) | ||
| Adjustments for: | ||||
| Depreciation charges | 22,200 | 23,564 | ||
| Interest paid | 1,263 | 370 | ||
| Interest element of hire purchase and finance lease rental payments | 426 | 1,371 | ||
| Increase in debtors | (10,887) | (2,230) | ||
| Increase/(decrease) in creditors | 65,400 | (21,634) | ||
| Net cash provided by/(used in) operations | 107,937 | (76,712) | ||
| 2. | ANALYSIS OF CASH AND CASH EQUIVALENTS | |||
| 31.8.20 | 31.8.19 | |||
| £ | £ | |||
| Cash in hand | 20 | 231 | ||
| Notice deposits (less than 3 months) | 70,045 | 7,412 | ||
| Overdrafts included in bank loans and overdrafts falling due within one year | - | (24,511) | ||
| Total cash and cash equivalents | 70,065 | (16,868) | ||
| 3. | ANALYSIS OF CHANGES IN NET DEBT | |||
| At 1.9.19 | Cash flow | At 31.8.20 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank and in hand | 7,643 | 62,422 | 70,065 | |
| Bank overdraft | (24,511) | 24,511 | - | |
| (16,868) | 86,933 | 70,065 | ||
| Debt | ||||
| Finance leases | (4,710) | 4,000 | (710) | |
| Debts falling due after 1 year | (90,000) | 10,000 | (80,000) | |
| (94,710) | 14,000 | (80,710) | ||
| Total | (111,578) | 100,933 | (10,645) |
The notes form part of these financial statements
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Ghyll Royd School
Notes to the Financial Statements for the year ended 31 August 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Going concern
The weak UK economy continues to affect the demand for independent school places and the trustees have prepared forecasts on the basis various pupil numbers and working capital assumptions to determine the school's funding requirements. The school continues to operate with a positive net income and has a positive net assets position, though it has net current liabilities of £121,263. The school, like many similar bodies, relies for it working capital funding on the bank overdraft. These facilities have been agreed up to 30th September 2021.
Based on their review, the trustees have determined that the school is able to operate for a period of at least twelve months from the date of approval of the financial statements and accordingly, they believe that it is appropriate to prepare the financial statements on a going concern basis.
Income recognition policies
Items of income are recognised and included in the accounts when all of the following criteria are met:
-
The charity has entitlement to the funds
-
any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity.
-
there is sufficient certainty that receipt of the income is considered probable; and
-
the amount can be measured reliably.
Income received in advance is deferred until the criteria for income recognition are met.
Expenditure and irrecoverable vat
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Raising funds
Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity
Allocation and apportionment of costs
Resources expended which relate directly to the charitable activities are analysed between
continued...
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Ghyll Royd School
Notes to the Financial Statements - continued for the year ended 31 August 2020
1. ACCOUNTING POLICIES - continued
Allocation and apportionment of costs
- Teaching - Welfare - Premises - Support costs
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 2% on cost Fixtures and fittings - 15% on reducing balance Motor vehicles - 25% on reducing balance
Improvements to property costing more than £1,500, together with fixtures and fittings costing more than £500 and all motor vehicles are capitalised.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the Balance Sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.
The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Donated services and facilities
Donated services or facilities are recognised as income when the charity has control over the item. any condition associated with the donated item have been met, and receipts of economic benefit from the use by the charity is probable and that the economic benefit can be measured reliably.The value of services provided by volunteers has not been provided for in these accounts.
Debtors
Trade debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
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continued...
Ghyll Royd School
Notes to the Financial Statements - continued for the year ended 31 August 2020
1. ACCOUNTING POLICIES - continued
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally at their settlement amount after allowing for any discounts due.
Financial instruments
The trust only has assets and liabilities of a kind that qualify as basic financial instrument. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loan which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.
Government Grants
Grants received in relation to furlough are intended to cover cost and are therefore recognised in the profit and loss in the same period in which the related expense was incurred.
2. DONATIONS AND LEGACIES
| 31.8.20 £ Donations - 3. OTHER TRADING ACTIVITIES 31.8.20 £ Fundraising events 892 4. INCOME FROM CHARITABLE ACTIVITIES 31.8.20 School Fees and disbursements £ Fees and disbursements 443,878 Nursery fees and disbursements 67,812 Furlough Grants 95,543 Nursery Grants 67,324 674,557 |
31.8.19 £ 100 31.8.19 £ 1,325 31.8.19 Total activities £ 474,482 59,275 - 75,439 609,196 |
|---|---|
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continued...
Ghyll Royd School
Notes to the Financial Statements - continued for the year ended 31 August 2020
5. RAISING FUNDS
Marketing expenditure
| Marketing expenditure | ||
|---|---|---|
| 31.8.20 | 31.8.19 | |
| £ | £ | |
| Staff costs | 26,275 | 26,700 |
| Advertising | 9,017 | 10,061 |
| Fundraising ball costs | 5,187 | - |
| 40,479 | 36,761 |
6. CHARITABLE ACTIVITIES COSTS
| Teaching costs Welfare costs Premises costs Administrative costs 7. SUPPORT COSTS Management £ Administrative costs 683 Support costs, included in the above, are as follows: Management Telephone Printing & stationery Legal and professional fees Bad debts |
Support Direct costs (see Costs note 7) £ £ 456,541 - 70,449 - 74,780 - 41,531 7,386 643,301 7,386 Governance Finance costs £ £ 2,743 3,960 31.8.20 Administrative costs £ 1,342 3,753 3,645 (8,057) 683 |
Totals £ 456,541 70,449 74,780 48,917 650,687 Totals £ 7,386 31.8.19 Total activities £ 1,723 3,867 4,043 668 10,301 |
|---|---|---|
continued...
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Ghyll Royd School
Notes to the Financial Statements - continued for the year ended 31 August 2020
7. SUPPORT COSTS - continued Finance
| 7. | SUPPORT COSTS - continued Finance |
||
|---|---|---|---|
| 31.8.20 | 31.8.19 | ||
| Administrative | Total | ||
| costs | activities | ||
| £ | £ | ||
| Bank charges | 1,054 | 1,049 | |
| Interest payable and similar charges | 1,689 | 1,741 | |
| 2,743 | 2,790 | ||
| Governance costs | |||
| 31.8.20 | 31.8.19 | ||
| Administrative | Total | ||
| costs | activities | ||
| £ | £ | ||
| Accountancy and legal fees | 3,960 | 9,610 | |
| 8. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31.8.20 | 31.8.19 | ||
| £ | £ | ||
| Depreciation - owned assets | 19,328 | 19,738 | |
| Depreciation - assets on hire purchase contracts and finance leases | 2,869 | 3,826 |
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.
10. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Teaching Non - teaching |
31.8.20 £ 458,891 27,394 30,061 516,346 31.8.20 19 11 30 |
31.8.19 £ 480,012 31,214 31,408 542,634 31.8.19 18 11 29 |
||
|---|---|---|---|---|
continued...
Page 18
Ghyll Royd School
Notes to the Financial Statements - continued for the year ended 31 August 2020
10. STAFF COSTS - continued
No employees received emoluments in excess of £60,000.
The key management personnel of the charity, comprise of the trustees, the Head Teacher and the Deputy Head Teacher. The total employments benefits including employer pension contribution of the key management personnel of the charity were £64,716 (2019; £72,542).
11. INTANGIBLE FIXED ASSETS
| INTANGIBLE FIXED ASSETS | |
|---|---|
| Goodwill | |
| £ | |
| COST | |
| At 1 September 2019 and 31 August 2020 | 5,000 |
| AMORTISATION | |
| At 1 September 2019 and 31 August 2020 | 5,000 |
| NET BOOK VALUE | |
| At 31 August 2020 | - |
| At 31 August 2019 | - |
12. TANGIBLE FIXED ASSETS
| Improvements to property £ COST At 1 September 2019 765,525 Additions - At 31 August 2020 765,525 DEPRECIATION At 1 September 2019 259,277 Charge for year 15,310 At 31 August 2020 274,587 NET BOOK VALUE At 31 August 2020 490,938 At 31 August 2019 506,248 |
Fixtures and fittings £ 145,397 4,889 150,286 122,736 3,737 126,473 23,813 22,661 |
Motor vehicles £ 36,765 - 36,765 24,161 3,150 27,311 9,454 12,604 |
Totals £ 947,687 4,889 952,576 406,174 22,197 428,371 524,205 541,513 |
|---|---|---|---|
The net book value of tangible fixed assets includes £ 8,609 (2019 - £ 11,478 ) in respect of assets held under hire purchase contracts.
continued...
Page 19
Ghyll Royd School
Notes to the Financial Statements - continued for the year ended 31 August 2020
| 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.20 £ Trade debtors 134,934 Other debtors 2,215 Prepayments 13,898 151,047 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.20 £ Bank loans and overdrafts (see note 16) - Hire purchase (see note 17) 710 Trade creditors 24,482 Social security and other taxes 5,833 Other creditors 8,430 Deferred income 289,409 Accrued expenses 13,511 342,375 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.8.20 £ Other loans (see note 16) 80,000 16. LOANS An analysis of the maturity of loans is given below: 31.8.20 £ Amounts falling due within one year on demand: Bank overdrafts - Amounts falling between one and two years: Other loans - 1-2 years 80,000 |
31.8.19 £ 125,440 - 14,721 140,161 31.8.19 £ 24,511 4,710 10,844 8,248 13,920 230,681 12,570 305,484 31.8.19 £ 90,000 31.8.19 £ 24,511 90,000 |
|---|---|
continued...
Page 20
Ghyll Royd School
Notes to the Financial Statements - continued for the year ended 31 August 2020
17. LEASING AGREEMENTS
Minimum lease payments under hire purchase fall due as follows:
| 31.8.20 | 31.8.19 | |
|---|---|---|
| £ | £ | |
| Net obligations repayable: | ||
| Within one year | 710 | 4,710 |
18. MOVEMENT IN FUNDS
| Unrestricted funds General fund Designated fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Designated fund TOTAL FUNDS |
At 1.9.19 £ 286,421 7,412 293,833 293,833 Incoming resources £ 719,383 892 720,275 720,275 |
Net movement At in funds 31.8.20 £ £ 28,217 314,638 892 8,304 29,109 322,942 29,109 322,942 Resources Movement expended in funds £ £ (691,166) 28,217 - 892 (691,166) 29,109 (691,166) 29,109 |
|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund Designated fund TOTAL FUNDS |
At 1.9.18 £ 367,270 6,087 373,357 373,357 |
Net movement in funds £ (80,849) 1,325 (79,524) (79,524) |
At 31.8.19 £ 286,421 7,412 |
|---|---|---|---|
| 293,833 | |||
| 293,833 |
continued...
Page 21
Ghyll Royd School
Notes to the Financial Statements - continued for the year ended 31 August 2020
18. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated fund TOTAL FUNDS |
Incoming resources £ 642,074 1,325 643,399 643,399 |
Resources Movement expended in funds £ £ (722,923) (80,849) - 1,325 (722,923) (79,524) (722,923) (79,524) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Designated fund TOTAL FUNDS |
At 1.9.18 £ 367,270 6,087 373,357 373,357 |
Net movement in funds £ (52,632) 2,217 (50,415) (50,415) |
At 31.8.20 £ 314,638 8,304 322,942 322,942 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources |
Movement | |
|---|---|---|---|
| resources | expended |
in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,361,457 | (1,414,089) | (52,632) |
| Designated fund | 2,217 | - | 2,217 |
| 1,363,674 | (1,414,089) | (50,415) | |
| TOTAL FUNDS | 1,363,674 | (1,414,089) | (50,415) |
Name of Fund
Description, nature and purpose of the fund
General Unrestricted Fund:
General Unrestricted Funds are for the charitable objectives of the charity.
Designated Unrestricted Funds:
Designated funds are for the purchase and installation of a retractable seating system for the school hall.
continued...
Page 22
Ghyll Royd School
Notes to the Financial Statements - continued for the year ended 31 August 2020
19. EMPLOYEE BENEFIT OBLIGATIONS
The company operates a defined contribution pension scheme. Pension costs relating to this scheme amounted to £30,061 (2019; £31,408) during the year. There was outstanding contribution of £2,884 at the balance sheet date (2019; £2,665)
20. CONTINGENT LIABILITIES
It has been agreed with the landlords of the school premises that the rent liability of £383,999 will not now become due until such time as the school is merged with another school or if the school's activities and undertaking are taken over by another body.
Since neither of these scenarios are deemed probable this liability has not been recognised in the accounts.
21. RELATED PARTY DISCLOSURES
In previous years, a trustee advanced funds to the school.
£40,000 was outstanding at the year end (2019; £50,000)
Page 23
Ghyll Royd School
| INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Fundraising events Charitable activities Fees and disbursements Nursery fees and disbursements Furlough Grants Nursery Grants Other income Other income Fundraising ball Total incoming resources EXPENDITURE Marketing expenditure Wages Social security Pensions Advertising Fundraising ball costs Charitable activities Wages Social security Pensions Rates, heat and light Insurance Sundries School meals and milk Books and equipment School trips and visits Repairs and maintenance Motor expenses Carried forward |
Detailed Statement of Financial Activities for the year ended 31 August 2020 31.8.20 31.8.19 £ £ - 100 892 1,325 443,878 474,482 67,812 59,275 95,543 - 67,324 75,439 674,557 609,196 26,471 32,778 18,355 - 44,826 32,778 720,275 643,399 22,176 22,840 1,837 1,980 2,262 1,880 9,017 10,061 5,187 - 40,479 36,761 436,715 457,172 25,557 29,234 27,799 29,528 20,409 19,032 14,232 14,198 16,952 19,180 24,836 26,196 6,207 5,555 5,817 8,908 11,617 7,275 4,628 4,519 594,769 620,797 |
|---|---|
This page does not form part of the statutory financial statements
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Ghyll Royd School
| Charitable activities Brought forward Computer costs Staff training Temporary staff costs Improvements to property Fixtures and fittings Motor vehicles Support costs Management Telephone Printing & stationery Legal and professional fees Bad debts Finance Bank charges Bank interest Hire purchase Governance costs Accountancy and legal fees Total resources expended Net income/(expenditure) |
Detailed Statement of Financial Activities for the year ended 31 August 2020 31.8.20 31.8.19 £ £ 594,769 620,797 10,848 8,875 6,652 1,619 8,832 8,606 15,311 15,311 3,738 4,052 3,151 4,201 643,301 663,461 1,342 1,723 3,753 3,867 3,645 4,043 (8,057) 668 683 10,301 1,054 1,049 1,263 370 426 1,371 2,743 2,790 3,960 9,610 691,166 722,923 29,109 (79,524) |
|---|---|
This page does not form part of the statutory financial statements
Page 25