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2021-08-31-accounts

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 2021

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 2021

Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 22

Ghyll Royd School (Registered number: 03583140)

Report of the Trustees for the year ended 31 August 2021

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 2021. 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 and The Poppy Appeal. Charity fund raising in the year was affected by the Covid-19 pandemic.

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 2020/21 there were 71 pupils in the school and 47 children attended preschool on a part and full time basis. This compares to 64 pupils in the school and 33 children in the preschool in the prior year. The expanded 50 week nursery had attracted 16 children to enrol for the full year.

Page 1

Ghyll Royd School (Registered number: 03583140)

Report of the Trustees for the year ended 31 August 2021

STRATEGIC REPORT Achievement and performance Review of Achievements and performance for the year

The pupils that left the school in July 2021 achieved great 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 2020/21 the school were finalists after been shortlisted, for the third year running, in the Independent School of the year award and the school placed in the Top 75 Preparatory in the country in the Sunday Times 2021 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 and pupils are regularly finalist in national competitions.

The Covid-19 pandemic impacted the school again this year. The school operated home learning in the spring term whilst staying open for key worker children and providing a full nursery provision throughout the year. The Distance Learning in Teams Experience (DLiTE) continued to be a great success whilst children had to learn remotely with all staff, children and parents expressing how well it had been planned and rolled out and how much the children benefitted from it.

Page 2

Ghyll Royd School (Registered number: 03583140)

Report of the Trustees for the year ended 31 August 2021

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 2020/21 25 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.

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 government guidelines 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, Children in Need and The Poppy Appeal.

The Vision for the School includes opportunities to support the community. The school encourages partnerships with local maintained schools and participates in locally organised sports events with the Schools Sports Partnership when Covid-19 restrictions allow.

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 in the Autumn Term was greatly reduced this year due to the pandemic restrictions, 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. This year the Wharfedale Cross Country league took place virtually with each school completing the events in their own grounds.

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 increased to 71 and the number of children attending preschool was 47 which was a significant increase on the previous year. It is the aim of the Management Committee and the Head Teacher to achieve continued growth which is predicted to continue in the next year. This reflects the excellent quality of education and pastoral care provided by the school.

Page 3

Ghyll Royd School (Registered number: 03583140)

Report of the Trustees for the year ended 31 August 2021

STRATEGIC REPORT Financial review

Reserves policy

Note 18 of the financial statements show unrestricted funds amounting to £296,367 (2020: £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 deficit in the year, this was mainly due to significant investment in maintenance and health and safety initiatives. There was a significant increase in Early Years Income due to the increase in pupil numbers and an increase in staff costs to manage the increased nursery sessions and for pay grade levelling. The differing Covid-19 impacts on the current and previous years make annual comparisons complicated.

The school and preschool have strong pupil numbers, 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:

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 Anthony Simpson and Robert Powls retired. A governor recruitment exercise was launched to enhance and strengthen the board and Anna Wood joined the Management Committee. Further recruits are expected to join the Management Committee in 2021/22.

Page 4

Ghyll Royd School (Registered number: 03583140)

Report of the Trustees for the year ended 31 August 2021

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

Trustees

P H Stephenson Mrs A J Bedford Collins A Simpson (resigned 31.8.21) R G Powls (resigned 30.9.21) Mrs E C Usherwood M J Picken Mrs M S Heppenstall Mrs V E Wood Ms A L Wood (appointed 1.9.21)

Company Secretary

E S Smeaton

Page 5

Ghyll Royd School (Registered number: 03583140)

Report of the Trustees for the year ended 31 August 2021

REFERENCE AND ADMINISTRATIVE DETAILS 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

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: 26/05/2022

........................................................................

P H Stephenson - Trustee

Page 6

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 2021.

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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 7

Ghyll Royd School

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31 August 2021

31.8.21
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
10
Charitable activities
4
School Fees and disbursements
803,239
Other trading activities
3
1,505
Other income
33,810
Total
838,564
EXPENDITURE ON
Raising funds
5
45,490
Charitable activities
6
Direct costs
623
Teaching costs
657,218
Welfare costs
45,048
Premises costs
82,007
Administrative costs
34,753
Total
865,139
NET INCOME/(EXPENDITURE)
(26,575)
RECONCILIATION OF FUNDS
Total funds brought forward
322,942
TOTAL FUNDS CARRIED FORWARD
296,367		 31.8.20
Total
funds
£
-
674,557
892
44,826
720,275
40,479
-
456,541
70,449
74,780
48,917
691,166
29,109
293,833
322,942

The notes form part of these financial statements

Page 8

Ghyll Royd School (Registered number: 03583140)

Balance Sheet

31 August 2021

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
15
NET ASSETS
FUNDS
18
Unrestricted funds
TOTAL FUNDS		 31.8.21
Unrestricted
funds
£
525,542
44,741
133,605
178,346
(211,558)
(33,212)
492,330
(195,963)
296,367
296,367
296,367		 31.8.20
Total
funds
£
524,205
151,047
70,065
221,112
(342,375)
(121,263)
402,942
(80,000)
322,942
322,942
322,942

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 26/05/2022

............................................. P H Stephenson - Trustee

The notes form part of these financial statements

Page 9

Ghyll Royd School

Cash Flow Statement

for the year ended 31 August 2021
31.8.21
Notes
£
Cash flows from operating activities
Cash generated from operations
1
(29,740)
Interest paid
(676)
Interest element of hire purchase payments
paid
(545)
Net cash (used in)/provided by operating activities
(30,961)
Cash flows from investing activities
Purchase of tangible fixed assets
(24,789)
Net cash used in investing activities
(24,789)
Cash flows from financing activities
New loans in year
120,000
Loan repayments in year
-
Capital repayments in year
(710)
Net cash provided by/(used in) financing activities
119,290
Change in cash and cash equivalents in
the reporting period
63,540
Cash and cash equivalents at the
beginning of the reporting period
70,065
Cash and cash equivalents at the end of
the reporting period
133,605		 31.8.20
£
107,511
(1,263)
(426)
105,822
(4,889)
(4,889)
-
(10,000)
(4,000)
(14,000)
86,933
(16,868)
70,065

The notes form part of these financial statements

Page 10

Ghyll Royd School

Notes to the Cash Flow Statement

for the year ended 31 August 2021

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest paid
Interest element of hire purchase and finance lease rental payments
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash (used in)/provided by operations		 31.8.21
£
(26,575)
23,450
676
545
106,308
(134,144)
(29,740)		 31.8.20
£
29,109
22,200
1,263
426
(10,887)
65,400
107,511

2. ANALYSIS OF CHANGES IN NET DEBT

Net cash At 1.9.20
Cash flow
£
£		 At 31.8.21
£
Cash at bank and in hand 70,065
63,540		 133,605
70,065
63,540		 133,605
Debt
Finance leases (710)
710		 -
Debts falling due within 1 year -
(4,037)		 (4,037)
Debts falling due after 1 year (80,000)
(115,963)		 (195,963)
(80,710)
(119,290)		 (200,000)
Total (10,645)
(55,750)		 (66,395)

The notes form part of these financial statements

Page 11

Ghyll Royd School

Notes to the Financial Statements for the year ended 31 August 2021

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 £33,212 (2020: £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 2022.

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:

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...

Page 12

Ghyll Royd School

Notes to the Financial Statements - continued for the year ended 31 August 2021

1. ACCOUNTING POLICIES - continued

Allocation and apportionment of 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

continued...

Page 13

Ghyll Royd School

Notes to the Financial Statements - continued for the year ended 31 August 2021

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

31.8.21
£
Donations
10
3.
OTHER TRADING ACTIVITIES
31.8.21
£
Fundraising events
1,505
4.
INCOME FROM CHARITABLE ACTIVITIES
31.8.21
School
Fees and
disbursements
£
Fees and disbursements
488,183
Nursery fees and disbursements
160,080
Furlough grants
33,375
Nursery grants
95,978
Government grants
25,623
803,239		 31.8.20
£
-
31.8.20
£
892
31.8.20
Total
activities
£
443,878
67,812
95,543
67,324
-
674,557

continued...

Page 14

Ghyll Royd School

Notes to the Financial Statements - continued for the year ended 31 August 2021

5. RAISING FUNDS

Marketing expenditure

Staff costs
Advertising
Fundraising ball costs
CHARITABLE ACTIVITIES COSTS
Direct costs
Teaching costs
Welfare costs
Premises costs
Administrative costs
SUPPORT COSTS
Management
£
Direct costs
-
Administrative costs
24,346
24,346
Support costs, included in the above, are as follows:
Management
Telephone
Printing & stationery
Legal and professional fees
Bad debts		 31.8.21
£
28,905
16,585
-
45,490
Support
Direct
costs (see
Costs
note 7)
£
£
-
623
657,218
-
45,048
-
82,007
-
4,976
29,777
789,249
30,400
Governance
Finance
costs
£
£
623
-
1,315
4,116
1,938
4,116
31.8.21
Administrative
costs
£
1,073
5,770
16,246
1,257
24,346		 31.8.20
£
26,275
9,017
5,187
40,479
Totals
£
623
657,218
45,048
82,007
34,753
819,649
Totals
£
623
29,777
30,400
31.8.20
Total
activities
£
1,342
3,753
3,645
(8,057)
683

6. CHARITABLE ACTIVITIES COSTS

7. SUPPORT COSTS

continued...

Page 15

Ghyll Royd School

Notes to the Financial Statements - continued for the year ended 31 August 2021

7. SUPPORT COSTS - continued Finance

7. SUPPORT COSTS - continued
Finance
31.8.21 31.8.20
Direct Administrative Total Total
costs costs activities activities
£ £ £ £
Bank charges - 717 717 1,054
Bank interest - 53 53 1,263
Bank loan interest 623 - 623 -
Hire purchase - 545 545 426
623 1,315 1,938 2,743
Governance costs
Accountancy and legal fees 31.8.21
Administrative
costs
£
4,116		 31.8.20
Total
activities
£
3,960
8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets 31.8.21
£
21,299		 31.8.20
£
19,328
Depreciation - assets on hire purchase contracts and finance leases 2,153 2,869

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.

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		 31.8.21
£
574,309
37,839
25,643
637,791
31.8.21
17
18
35		 31.8.20
£
458,891
27,394
30,061
516,346
31.8.20
19
11
30

continued...

Page 16

Ghyll Royd School

Notes to the Financial Statements - continued for the year ended 31 August 2021

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 £85,349 (2020; £64,716).

11. INTANGIBLE FIXED ASSETS

INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 September 2020 and 31 August 2021 5,000
AMORTISATION
At 1 September 2020 and 31 August 2021		 5,000
NET BOOK VALUE
At 31 August 2021		 -
At 31 August 2020 -

12. TANGIBLE FIXED ASSETS

Improvements
to
property
£
COST
At 1 September 2020
765,525
Additions
-
At 31 August 2021
765,525
DEPRECIATION
At 1 September 2020
274,587
Charge for year
15,311
At 31 August 2021
289,898
NET BOOK VALUE
At 31 August 2021
475,627
At 31 August 2020
490,938		 Fixtures
and
fittings
£
150,286
24,789
175,075
126,473
5,776
132,249
42,826
23,813		 Motor
vehicles
£
36,765
-
36,765
27,311
2,365
29,676
7,089
9,454		 Totals
£
952,576
24,789
977,365
428,371
23,452
451,823
525,542
524,205

continued...

Page 17

Ghyll Royd School

Notes to the Financial Statements - continued for the year ended 31 August 2021

12. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

COST
At 1 September 2020 and 31 August 2021
DEPRECIATION
At 1 September 2020
Charge for year
At 31 August 2021
NET BOOK VALUE
At 31 August 2021
At 31 August 2020
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 16)
Hire purchase (see note 17)
Trade creditors
Social security and other taxes
Other creditors
Deferred income
Accrued expenses		 31.8.21
£
21,609
-
23,132
44,741
31.8.21
£
4,037
-
17,609
11,218
5,379
158,074
15,241
211,558		 Motor
vehicles
£
21,765
13,156
2,153
15,309
6,456
8,609
31.8.20
£
134,934
2,215
13,898
151,047
31.8.20
£
-
710
24,482
5,833
8,430
289,409
13,511
342,375

continued...

Page 18

Ghyll Royd School

Notes to the Financial Statements - continued for the year ended 31 August 2021

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank loans (see note 16)
Other loans (see note 16)
16.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Other loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
17.
LEASING AGREEMENTS
Minimum lease payments fall due as follows:
Net obligations repayable:
Within one year
Between one and five years		 31.8.21
31.8.20
£
£
115,963
-
80,000
80,000
195,963
80,000
31.8.21
31.8.20
£
£
4,037
-
23,980
-
80,000
80,000
103,980
80,000
71,984
-
19,999
-
Hire purchase contracts
31.8.21
31.8.20
£
£
-
710
Non-cancellable operating
leases
31.8.21
31.8.20
£
£
2,940
-

continued...

Page 19

Ghyll Royd School

Notes to the Financial Statements - continued

for the year ended 31 August 2021

18. MOVEMENT IN FUNDS

Net
movement
At 1.9.20
in funds
£
£
Unrestricted funds
General fund
314,638
(27,811)
Designated fund
8,304
1,236
322,942
(26,575)
TOTAL FUNDS
322,942
(26,575)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
837,059
Designated fund
1,505
838,564
TOTAL FUNDS
838,564
Comparatives for movement in funds
At 1.9.19
£
Unrestricted funds
General fund
286,421
Designated fund
7,412
293,833
TOTAL FUNDS
293,833
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
719,383
Designated fund
892
720,275
TOTAL FUNDS
720,275		 Transfers
between
At
funds
31.8.21
£
£
9,540
296,367
(9,540)
-
-
296,367
-
296,367
Resources
Movement
expended
in funds
£
£
(864,870)
(27,811)
(269)
1,236
(865,139)
(26,575)
(865,139)
(26,575)
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

continued...

Page 20

Ghyll Royd School

Notes to the Financial Statements - continued for the year ended 31 August 2021

18. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated fund
TOTAL FUNDS		 At 1.9.19
£
286,421
7,412
293,833
293,833		 Net
movement
in funds
£
406
2,128
2,534
2,534		 Transfers
between
funds
£
9,540
(9,540)
-
-		 At
31.8.21
£
296,367
-
296,367
296,367

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds Incoming
Resources
resources
expended
£
£		 Movement
in funds
£
General fund 1,556,442
(1,556,036)		 406
Designated fund 2,397
(269)		 2,128
1,558,839
(1,556,305)		 2,534
TOTAL FUNDS 1,558,839
(1,556,305)		 2,534

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 was for the purchase and installation of retractable seating system for the school.

19. EMPLOYEE BENEFIT OBLIGATIONS

The company operates a defined contribution pension scheme. Pension costs relating to this scheme amounted to £25,643 (2020; £30,061) during the year. There was outstanding contribution of £3,460 at the balance sheet date (2020; £2,884)

continued...

Page 21

Ghyll Royd School

Notes to the Financial Statements - continued for the year ended 31 August 2021

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

There were no related party transactions for the year ended 31 August 2021.

Page 22