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|||Page|
|---|---|---|
|Report of the Management
Trustees||1 —8|
|Independent
Auditor's|Report||
|Statement
of Financial|Activities|14|
|Balance Sheet||15|
|Cash Flow Statement||16|
|Notes to the Financial|Statements||
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|Charity
Number|Charity
Number|1076317||||||||
|---|---|---|---|---|---|---|---|---|---|
|Company|Number|03069213||||||||
|Registered|office|Hexham
Road,|Walbottle,||Newcastle|upon Tyne, NE15 8HW||||
|Our advisors||||||||||
|Bankers||National Westminster||Bank, 149 High||Street, Gosforth, Newcastle||upon|Tyne,|
|||NE3 1HA||||||||
|Solicitors/I|egal issues|Ward Hadaway|Law|Firm,|Sandgate|House, 102Quayside,|Newcastle||upon Tyne,|
|||NE1 3DX||||||||
|Auditors||Haines Watts,|17Queens||Lane, Newcastle
upon Tyne, NE1||1RN|||
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|D Pearson|Chief Executive Governor|Chief Executive Governor|
|---|---|---|
|J Reiling|Head of Development|Governor|
|C Smiles|Head Teacher Governor||
|Karen Cowan|Staff Governor||
|Steve Hughes|Staff Governor||
|Sophie Robinson|Parent Governor||
|Key management|||
|D Pearson|Chief Executive||
|J Reiling|Head of Development||
|C Smiles|Head Teacher||
|S Robinson|Residential
Manager||
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|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||Funds|Funds|2021|2020|
||Notes||f.|||
|Income from:||||||
|Donations||28,281|13,686|41,967|109,039|
|Charitable
activities||2,687,488||2,687,488|2,424,565|
|Other income||8,509||8,509||
|Total income||2,724,278|13,686|2,737,964|2,533,604|
|Expenditure
on:||||||
|Charitable
activities||2,290,041|13,686|2,303,727|2,223,235|
|Total expenditure||2,290,041|13,686|2,303,727|2,223,235|
|Net income/(expenditure)||||||
|before transfers||434,237||434,237|310,369|
|Transfers|20|98,198|( 98,198 )|||
|Net movement||532,435|( 98,198 )|434,237|310,369|
|Reconciliation
offunds||||||
|Total funds brought forward||1,232,861|98,198|1,331,059|1,020,690|
|Total funds carried forward||1,765,296||1,765,296|1,331,059|
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|||Notes||2021||2020|
|---|---|---|---|---|---|---|
|||||||f,|
|Fixed assets|||||||
|Tangible assets||13||1,662,317||1,511,442|
|Current assets|||||||
|Debtors||14|324,864||835,095||
|Cash at bank and in hand|||635,508||323,346||
||||960,372||1,158,441||
|Liabilities:|||||||
|Creditors: amounts|falling due||||||
|within one year||15|( 575,021 )||( 945,425 )||
|Net current assets||||385,351||213,016|
|Total assets less current liabilities||||2,047,668||1,724,458|
|Creditors: falling due after|||||||
|more than one year||17||( 282,372 )||( 393,399 )|
|Total net assets||||1,765,296||1,331,059|
|The funds ofthe charity|||||||
|Restricted funds||20||||98,198|
|Unrestricted
funds||20||1,765,296||1,232,861|
|||||1,765,296||1,331,059|
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|||||2021|2020|
|---|---|---|---|---|---|
||||Note|f.||
|Cash flow from operating|activities|||||
|Net cash flow from operating
activities|||24|621,678|236,890|
|Cash flow from investing|activities|||||
|Payments
to acquire tangible
fixed assets||||( 245,316 )|( 205,826 )|
|Net cash flow from investing
activities||||( 245,316 )|( 205,826 )|
|Cash flow from financing|activities|||||
|Repayment
of borrowings||||(64,200 )|(61,035 )|
|Net cash flow from financing
activities||||(64,200 )|( 61,035 )|
|Net increase/(decrease)
in|cash and cash|equivalents||312,162|( 29,971 )|
|Cash and cash equivalents|at the beginning|ofthe year||323,346|353,317|
|Cash and cash equivalents|at the end ofthe year|||635,508|323,346|
|Cash and cash equivalents|consist of:|||||
|Cash at bank and
in hand||||635,508|323,346|
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||||||2021|2020|
|---|---|---|---|---|---|---|
||Grants||||40,967|108,841|
||Donations||||1,000|198|
||||||41,967|109,039|
|5.|Income from charitable|||activities|||
||||||2021|2020f|
||School||||1,785,232|1,864,988|
||Residential|children's|home||897,911|549,949|
||Other||||4,345|9,628|
||||||2,687,488|2,424,565|
|6.|Other income||||||
||||||2021|2020|
||Insurance|claim|||8,509||
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|Expenditur|e
on|charitable
activities|||||
|---|---|---|---|---|---|---|
||||Activities||||
||||undertaken|Support|||
||||directly|costs|2021|2020|
|||||F|||
|School|||1,370,701|230,372|1,601,073|1,629,931|
|Residential|care|home|585,776|116,878|702,654|593,304|
||||1,956,477|347,250|2,303,727|2,223,235|
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||||||2021|2020|
|---|---|---|---|---|---|---|
||||||f||
||Salary costs||||336,744|318,532|
||Governance|costs (note 9)|||10,504|8,700|
||||||347,248|327,232|
|9.|Governance|costs|||||
||||||2021|2020|
||Payroll costs||||4,024|3,960|
||Audit fee||||6,060|4,740|
||Non audit fee||||420||
||||||10,504|8,700|
|10.|Net movement|for the year|||||
||This is stated after charging:||||||
||||||2021|2020|
||Depreciation||||94,441|84,036|
|11.|Auditor's
remuneration||||||
||||||2021|2020|
||Fees payable to the charity's|||auditors for the audit|||
||ofthe charity's|annual|accounts||6,060|4,740|
|12.|Analysis ofstaff costs and trustee remuneration|and expenses|||
|---|---|---|---|---|
||Staff costs were as follows:||||
||||2021|2020|
||Wages and salaries||1,476,290|1,364,071|
||Social security costs||135,941|122,870|
||Pension costs||143,942|104,482|
||Termination
payment|||8,662|
||||1,756,173|1,600,085|
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|The averag|e
monthly
num|ber ofemployees
during the|year was:||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||Number|Number|
|Charitable|activities||||58|58|
|The number|of employees|who received total employee|benefits (excluding|employer|pension costs) ofmore||
|than F60,000 is as follows:|||||||
||||||2021|2020|
||||||Number|Number|
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|Debtors||||
|---|---|---|---|
|||2021|2020|
|Trade debtors||309,877|820,442|
|Prepayments|and accrued income|14,987|14,653|
|||324,864|835,095|
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|Creditors: amounts
falli|ng due within one year|||
|---|---|---|---|
|||2021|2020|
||||F|
|Bank loans and overdraft|(secured)|52,526|57,900|
|Trade creditors||36,540|39,760|
|Taxes and social security||32,905|33,224|
|Accruals and deferred income||302,960|791,818|
|Other creditors||150,090|22,723|
|||575,021|945,425|
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|Balance|at 1 April|2020||776,911|
|---|---|---|---|---|
|Amounts|released|to income earned from charitable|activities|(776,911 )|
|Amounts|deferred|in the year||293,165|
|Balance|at 31 March 2021|||293,165|
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|asked t|asked t|he participating
employers
to pay addi|tional
contributions
to the s|cheme as|follows:||
|---|---|---|---|---|---|---|
|Deficit||contributions|||||
|From|1|April 2016to 30September 2025:|212,945,440 per annum|(payable|monthly
and increasing|by|
|||||3%each|on 1April)||
|From|1|April 2016to 30September 2028:|f54,560 per annum|(payable|monthly
and increasing|by|
|||||3%each|on 1 April)||
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|Reconciliation|ofopening|ofopening|ofopening|and|and|closing|provisions|provisions||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||Period Ending|||Period Ending|
|||||||||||||31 March 2021|||31 March 2020|
||||||||||||||R'000||E'000|
|Provision at start||of period|||||||||||335||406|
|Unwinding
ofthe||discount|factor|||(interest|expense)||||||7||5|
|Deficit contribution
Remeasurements||paid
—impact||of any change|||in|assumptions|||||( 69
9|)|( 67 )
(9)|
|Remeasurements||—amendments||||to the conti'ibution|||schedule|||||||
|Provision
at end|of period||||||||||||282||335|
|Income and expenditure|||impact|||||||||||||
|||||||||||||Period Ending||Period Ending||
|||||||||||||31|March 2020|31 March 2020||
||||||||||||||R'000||R'000|
|Interest expense|||||||||||||8||5|
|Remeasurements||—impact|ofany change||||in|assumptions|||||(10)||(9)|
|Remeasurements||—amendments||||to the contribution|||schedule|||||||
|Contributions
paid||in respect offuture service*||||||||||||||
|Costs recognised||in income||and|expenditure|||account||||||||
|* Includes
defined||contribution|||schemes||and|future|service contributions|||(i.e. excluding
any|||deficit reduction|
|payments)
to defined
benefit||||schemes which||||are treated as defined|||contribution||schemes.|||
|Assumptions|||||||||31 March|2021||31 March 2020||31 March 2019||
||||||||||%per annum|||%per annum|||%per annum|
|Rate of discount||||||||||0.66|||2.53||1.39|
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|Year ended|31March 2021|31March 2021|31March 2021||||||
|---|---|---|---|---|---|---|---|---|
|||||At 1 April||||At 31 March|
|||||2020|Income|Expenditure|Transfers|2021|
|Unrestricted|funds|||1,232,861|2,724,278|( 2,290,041 )|98,198|1,765,296|
|Restricted funds|||||||||
|Devolved
Formula|||Capital||13,686|( 13,686 )|||
|Mark Benevolent|||Fund|98,198|-|-|( 98,198|)|
|||||98,198|13,686|( 13,686 )|||
|Total||||1,331,059|2,737,964|(2,303,727 )||1,765,296|
|Year ended|31March 2020||||||||
|||||At 1 April||||At 31 March|
|||||2019
f|Income|Expenditure
f|Transfers
f|2020|
|Unrestricted|funds|||1,020,690|2,424,763|( 2,212,592 )|-|1,232,861|
|Restricted funds|||||||||
|Devolved
Formula|||Capital||10,643|( 10,643 )|||
|Mark Benevolent||Fund|||98,198|||98,198|
||||||108,841|( 10,643 )||98,198|
|Total||||1,020,690|2,533,604|( 2,223,235 )||1,331,059|
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|Year ended 31March 2021|Year ended 31March 2021|Unrestricted|Restricted||
|---|---|---|---|---|
|||Funds|Fundsf|Total|
|Tangible fixed assets||1,662,317||1,662,317|
|Net current assets||385,351||385,351|
|Creditors: amounts|falling due after more than one year|( 282,372||( 282,372 )|
|||1,765,296||1,765,296|
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|Year ended 31March 2020|Year ended 31March 2020|Unrestricted||Restricted||
|---|---|---|---|---|---|
|||Funds||Funds|Total|
|Tangible fixed assets||1,511,442|||1,511,442|
|Net current assets||114,818||98,198|213,016|
|Creditors: amounts|falling due after more than one year|( 393,399|)||( 393,399 )|
|||1,232,861||98.198|1,331,059|
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|Financial
instruments|Financial
instruments|measured|at amortised|at amortised|cost comprise|the loan financing|provided|by Natwest|by Natwest|Bank Pic|
|---|---|---|---|---|---|---|---|---|---|---|
|to the charity.|||||||||||
|||||||||2021||2020|
|||||||||F|||
|Loan payable|falling|due within|1 year|||||52,526||57,900|
|Loan payable|falling|due in more than||1 year|but less than 5|years||||58,826|
|||||||||52,526|116,726||
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|||2021||2020|
|---|---|---|---|---|
|Net income for the|year|434,237||310,369|
|Depreciation||94,441||84,036|
|Increase/(decrease)|in debtors|510,231||(375,561 )|
|(Decrease)/increase|in creditors: due within one year|( 365,030|)|289,437|
|(Decrease)/increase|in creditors: due after more than one year|(52,201|)|(71,389 )|
|||621,678||236,890|
|Analysis ofchanges
in net debt||||
|---|---|---|---|
||At 1 April|Cash|At 31 March|
||2020|flows|2021|
|||E||
|Cash and cash equivalents||||
|Cash at bank and in hand|323,346|312,162|635,508|
|Borrowings||||
|Debt due within one year|( 940,271 )|370,404|( 569,867 )|
|Debt due after one year|( 393,399 )|111,027|( 282,372 )|
||(1,333,670 )|481,431|(852,239 )|
|Total|( 1,010,324 )|793,593|( 216,731 )|