##
##
|||||Page|
|---|---|---|---|---|
|Company|information|||1|
|Directors'|report (incorporating||the Strategic report)||
|Independent
auditor's||report||23|
|Financial|statements|ofthe company||26|
##
##
|Directors|Directors||||R Haynes
Brown (Chairman)|
|---|---|---|---|---|---|
||||||J Armstrong|
||||||SBradshaw|
||||||S L Champkin|
||||||G W Dixon|
||||||M Dixon|
||||||D H TJohnson-Poensgen|
||||||S Kay|
||||||L E Lindsay|
||||||E Martin|
||||||J Martin|
||||||KE C Sweeney|
|Secretary|||||S Koziarski|
|Charity|No.||||1076456|
|Company||No.|||03779971|
|Principal||Address|and Registered|Office|Ardingly
College|
||||||College Road|
||||||Ardingly|
||||||Haywards
Heath|
||||||West Sussex|
||||||RH17 6SQ|
|Key Management|||Personnel|||
||Head ofCollege||||BA Figgis|
||Head of Senior School||||J Johnson|
||Head of Prep School||||H Hastings|
||Director ofFinance and Resources||||TTrotter|
|Auditor|||||RSM UK Audit LLP|
||||||Portland|
||||||25 High Street|
||||||Crawley|
||||||West Sussex|
||||||RH10 1BG|
##
##
##
|Solicitors||
|---|---|
|Insurance|Brokers|
|Lloyds Bank pic||
|---|---|
|Haywards
Heath|Branch|
|99-101South Road||
|Haywards
Heath||
|West Sussex||
|RH16 4ND||
|Knights Solicitors||
|Eagle Tower||
|Montpellier
Drive||
|Cheltenham||
|Gloucestershire||
|GL50 1TA||
|Marsh Insurance|Broker Limited|
|4 Milton Road||
|Haywards
Heath||
|West Sussex||
|RH16 1AH||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|R Haynes|Brown|||Estates, Finance
&|Estates, Finance
&|Estates, Finance
&|General|General|General|Purposes,|
|---|---|---|---|---|---|---|---|---|---|---|
|(Chairman)||||Development,||Nominations|||||
|JArmstrong||||Development|||||||
|SBradshaw||(appointed|4'" March|Education|||||||
|||2020)|||||||||
|P N Bryan||(resigned|3"July 2020)|Finance
&|General||Purposes||||
|S L Champidn|||||||||||
|G W Dixon||||Estates|||||||
|M Dixon||(appointed|4e March|Education|||||||
|||2020)|||||||||
|E Hewer||(resigned|28w November|Education|||||||
|||2019)|||||||||
|M E Ireland||(resigned|3"July 2020)|Finance|&|General||||Purposes,|
|||||Education,|Nominations||||||
|D H TJohnson-Poensgen||||Finance
&|General||Purposes,|||Estates,|
|||||Nominations.||Special||Responsibility-|||
|||||IT|||||||
|S Kay||||Special Responsibility||||-Compliance|||
|L E
I indsay||||Special
Responsibility|||||—Safeguarding||
|||||& Pre-prep|||||||
|E Martin||||Education|||||||
|J Martin||(appointed|27v'||||||||
|||November|2019)||||||||
|J F Sloane||(resigned|31"August|Finance
&|General||Purposes,|||Estates,|
|||2020)||Education,|Development,||||Nominations.||
|||||Special responsibility||||—Boarding|||
|K E C Sweeney|||||||||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||Notes|Unrestricted|Restricted|Endowed|Total|Total|
|---|---|---|---|---|---|---|---|
||||Funds
f|Funds
f|Funds
6|2020
6|2019
f|
|Income and endowments|from:|||||||
|Charitable
Activities||||||||
|School fees receivable||2|19,264,438|||19,264,438|20,058,898|
|Ancillary
trading
income||3|887,460|||887,460|844,877|
|Other trading
activities||||||||
|Non-ancillary
trading
income||4|768,161|||768,161|1,773,797|
|Other Activities||4|4,508|||4,508|35,019|
|Investments||||||||
|Bank and other interest||5|4,624|13,292||17,916|38,058|
|Voluntary
Sources||||||||
|Grants and donations||5|1,596,424|110,625||1,707,049|355,834|
|Other income|||2,078|||2,078|5,450|
|TOTAL INCOME|||22,527,693|123,917||22,651,610|23,111,933|
|Expenditure
on:||||||||
|Raising funds||||||||
|Non-ancillary
trading||7|923,874|||923,874|1,290,831|
|Other income generating|activities|||||||
|Financing costs||8|543,032|||543,032|454,508|
|Investment
management||||||||
|Fundraising
and development|||80,392|||80,392|82,381|
|TOTAL RAISING FUNDS|||1,547,298|||1,547,298|1,827,720|
|Charitable
Activities||||||||
|Education
and grant making||7|21,026,646|49,780||21,076,426|20,005,216|
|TOTAL EXPENDITURE|||22,573,944|49,780||22,623,724|21,832,936|
|Net gains/(losses)
on investment
assets||13|||(1,380)|(62,585)|(6,506)|
|Net income/(expenditure)|||(107,456)|74,137|(1,380)|(34,699)|1,272,491|
|Transfers
between
funds||24||||||
|Other recognised
gains/(losses)||||||||
|Pension scheme actuarial|gains|26|406,000|||406,000|(570,000)|
|Net Movement
in funds for the
year|||298,544|74,137|(1,380)|371,301|702,491|
|Fund balances at 1st September|||15,564,734|539,825|270,046|16,374,605|15,672,114|
|FUND BALANCES AS AT|31STAUGUST||||268,666|16,745,906|16,374,605|
##
##
##
|||Notes|Unrestricted|Restricted|Endowed|2020|2019|
|---|---|---|---|---|---|---|---|
||||Funds|Funds|Funds|||
||||6|6|6|||
|Income and endowments|from:|||||||
|Charitable
Activities||||||||
|School fees receivable||2|19,264,438|||19,264,438|20,058,898|
|Ancillary
trading
income||3|902,960|||902,960|1,153,258|
|Other trading
activities||||||||
|Non-ancillary
trading
income||4|175,858|||175,858|249,073|
|Other activities|||4,508|||4,508|35,019|
|Investments||||||||
|Sank and other interest||5|4,512|13,292||17,804|30,528|
|Voluntary
sources||||||||
|Grants and donations||6|1,596,424|110,625||1,707,049|355,834|
|Other income|||2,078|||2,078|5,450|
|TOTAL INCOME|||21,950,778|123,917||22,074,695|21,888,060|
|Expenditure
on:||||||||
|Raising funds||||||||
|Non-ancillary
trading||||||||
|Other income generating||||||||
|activities||||||||
|Financing
costs||8|536,563|||536,563|450,802|
|Investment
management||||||||
|Fundraising
and development|||80,392|||80,392|82,381|
|TOTAL RAISING FUNDS|||616,955|||616,955|533,183|
|Charitable
Activities||||||||
|Education
and grant making||7|21,024,147|49,780||21,073,927|20,002,686|
|TOTAL EXPENDITURE|||21,641,102|49,780||21,690,882|20,535,869|
|Net gains/(losses)
on investment
assets||13|(61 205)||(1,380)|(62,585)|(6,506)|
|Net income/(expenditure)|||248,471|74,137|(1,380)|321,228|1,345,685|
|Transfers
between
funds||24||||||
|Other recognised
gains/(losses)||||||||
|Pension scheme actuarial losses||26|406,000|||406,000|(570,000)|
|Net Movement
in funds for the
year|||654,471|74,137|(1,380)|727,228|775,685|
|Fund balances at 1st September|||15,637,564|539,825|270,046|16,447,435|15,671,749|
|FUND BALANCES AS AT 31ST
AUGUST|||16,292,035|613,962|268,666|17,174,663|16,447,434|
##
##
||Note|Group||Charity||
|---|---|---|---|---|---|
|||2020f|2019
f|2020
f|2019
f.|
|FIXEDASSETS||||||
|Tangible assets|12|29,551,579|27,408,152|29,551,579|27,408, 152|
|Securities Investments|13|963,578|1,026,163|963,578|1,026,163|
|Investment
in subsidiaries||||3|3|
|||30,515,157|28,434,315|30,515,160|28,434,318|
|CURRENT ASSETS||||||
|Stock||49,730|168,794|18,757|32,054|
|Debtors|14|974,917|708,017|1,149,406|1,071,743|
|Cash at bank and
in hand||1 803,028|1,875,428|1,597,616|1,665,900|
|||2,827,675|2,752,239|2,765,779|2,769,697|
|CURRENT LIABILITIES||||||
|Creditors
payable
within one|15|(5,784,091)|(5,566,721)|(5,293,441)|(5,511,353)|
|year||||||
|NET CURRENT
ASSETS/(LIABILITIES)||(2,956,416)|(2,814,482)|(2,527,662)|(2,741,656)|
|TOTAL ASSETS LESSCURRENT
LIABILITIES||27,558,741|25,619,833|27,987,498|25,692,662|
|LONG TERM LIABILITIES||||||
|Creditors
payable
after one|16|(9,487,735)|(7,509,128)|(9,487,735)|(7,509,128)|
|year||||||
|TOTAL NET ASSETS||||||
|EXCLUDING PENSION||18,071,006|18,110,705|18,499,763|18,183,534|
|LIABILITY||||||
|Net pension
liability|26|(1,325,000)|(1,736,000)|(1,325,000)|(1,736,000)|
|NET ASSETS||16,746,006|16,374,705|17,174,763|16,447,534|
|REPRESENTED BY:||||||
|CALLED UP SHARE|20|100|100|100|100|
|CAPITAL||||||
|ENDOWED FUNDS|22|268,666|270,046|268,666|270,046|
|RESTRICTED FUNDS|22|613,962|539,825|613,962|539,825|
|UNRESTRICTED FUNDS||||||
|General reserve|22|14,538,278|13,828,734|14,967,035|13,901,563|
|Pension reserve|26|1,325,000|1,736,000|1,325,000|1,736,000|
|||16,746,006|16,374,705|17,174,763|16,447,534|
##
##
||||||2020||2019|
|---|---|---|---|---|---|---|---|
|||||Notes|6'000||F'000|
|Cash flows from operating
activities:||||||||
|Net cash provided
by (used in) operating||activities||27|2 902999|4|027025|
|Cash flows from investing
activities:||||||||
|Dividends,
interest and rents from investments|||||17,816||38,058|
|Proceeds from the sale of property,
plant|and equipment||||7,800||5,450|
|Purchase ofproperty,
plant and equipment|||||(4,027,217)|(5,703,373)||
|Proceeds from sale of investments||||||||
|Purchase of investments||||||||
|Net cash provided
by (used in) investing||activities|||(4001 501)|||
|Cash flows from financing
activities:||||||||
|Repayments
of borrowing|||||(184,866)|(174,555)||
|Cash inflows from new borrowing|||||1,753,000|||
|Financing costs|||||(543,032)|(454,508)||
|Receipt ofendowment||||||||
|Net cash provided
by (used in) financing||activities|||1,025,102|(|'
)|
|Change
In cash and cash equivalents|in|the|year||(72,400)|(2,251,903)||
|Cash and cash equivalents
at the beginning|||ofthe year||1,875,428|4,137,331||
|Cash and cash equivalents
at the end|of|the|year|28|1,803,028|1,875,426||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||2020|2019|
|---|---|---|---|---|
||||6|6|
|The school fees income|comprises||||
|Gross fees|||21,458,734|22,231,442|
|Less: Total scholarships,|bursaries,|etc|(2,194,296)|(2,191,252)|
|Add back. Scholarships,|Grants etc|paid for by Restricted||18,708|
|Funds|||||
||||19,264,438|20,058,898|
##
##
##
|||||2020|2019|
|---|---|---|---|---|---|
|||||6||
|Extras||||557,857|526,142|
|Entrance fees and registration|||fees|88,098|84,902|
|Pupiltransport||||47,640|64,034|
|Rent receivable|and related income|||||
|Commissions
and related||income||48,803|78,090|
|Sundry other income||||145,062|91,709|
|||||887,460|844,877|
|OTHER TRADING ACTIVITIES||||||
|||||2020|2019|
|||||6|6|
|Non-ancillary
trading
income||||||
|Ardingly
Projects|Limited|turnover||342,286|1,575,354|
|Ardingly
College|International||Limited turnover|328,076|79,326|
|Lettings income||||||
|Rents receivable||||97,799|119,117|
|Interest receivable —pupil||bills||4,508|35,019|
|||||772,669|1,808,816|
##
##
|5.|INVESTMENTS|- B|ANK AND OTHER|INTEREST R|ECEIVABLE|||
|---|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowed|Total|Total|
|||||||2020
f'|2019f|
||Bank interest||3,502|||3,502|15,822|
||Other interest||1,122|13,292||14,414|22,236|
||||4,624|13,292||17,916|38,058|
|6.|OTHER - GRANTS||AND DONATIONS|||||
||||Unrestricted|Restricted|Endowed|Total|Total|
|||||||2020f|2019f|
||Sundry Bequests|&|79,264|110,625||189,889|351,334|
||Donations|||||||
||Government||1,167,160|||1,167,160||
||Funding|||||||
||Legacies||350,000|||350,000|4,500|
||||1,596,424|110,625||1,707,049|355,834|
##
##
##
|a)
Total|expenditure||||||
|---|---|---|---|---|---|---|
|||Staff costs|Support|Depreciation|Total|Total|
||||costs||||
|||(note 9)||(Note 12)|2020|2019|
|||||||6|
|Costs of raising funds|||||||
|Non ancillary
trading||354,422|569,452||923,874|1,290,831|
|Other income generating|||||||
|activities|||||||
|Financing|cost (note 8)||543,032||543,032|454,508|
|Investment|management||||||
|Fundraising|and|47,937|32,455||80,392|82,381|
|development|||||||
|Total cost
funds|ofgenerating|402,359|1,144,939||1,547,298|1,827,720|
|Charitable|expenditure||||||
|Teaching||10,052,903|897,465|269,749|11,220,117|10,132,349|
|Welfare||1,313,618|1,020,289|1,489,020|3,822,927|3,870,324|
|Premises||1,538,135|2,195,377|36,314|3,769,826|3,580,481|
|School administration||1,154,946|982,607|82,985|2,220,538|2,375,172|
|Donations|||||||
|Grants awards and prizes|||6,543||6,543|15,985|
|(note 7b)|||||||
|Governance|||36,475||36,475|30,905|
|Education
making|and grant|14,059,602|5,138,756|1,878,068|21,076,426|20,005,216|
|Total Expenditure||14,461,961|6,283,695|1,878,068|22,623,724|21,832,936|
##
|7.|ANALYSIS OF|EXPENDITURE (Continued)|||||
|---|---|---|---|---|---|---|
|b)|Grants, awards|and prizes|||||
||Ardingly
College|makes awards to individual|families to support|schooling.|||
||||||2020|2019f|
||From Endowed|Funds:|||||
||Other grants and|awards|||||
||From Restricted|Funds:|||||
||Other grants and|awards|||||
||Prizes and leaving
awards||||4,448|15,985|
||From Unrestricted
Funds:||||||
||Other grants and|awards|||||
||Prizes and leaving awards||||2,095||
||||||6,543|15,985|
|c)|Total resources expended|Total resources expended|include:||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||Ardingly
College reimburses||governors|for out of pocket expenses||||including
travel subsistence
and|||
||accommodation,
where|a claim is made.|||2 governors||were reimbursed||during
the year (2019:3).||
||||||||||2020|2019|
||||||||||F|6|
||Remuneration
paid to auditor||for audit services||||||24,817|17,717|
||Remuneration
paid to auditor||for non-audit||services||||||
||Depreciation
oftangible|fixed|assets:||||||||
||-owned
by the Charitable||Company||||||1,878,068|1,509,480|
||- held under finance|leases and hire||purchase||contracts|||||
||(Profit)/loss
on disposal|offixed assets|||||||(2,078)|(5,450)|
||Operating
lease rentals:||||||||||
||- land and buildings||||||||||
||-other assets||||||||51,707|51,916|
||Cost ofstock/inventories|recognised as||an expense||in|the period||872,597|1,066,534|
||Reimbursement
of personal expenses to governors||||||||216|1,996|
|8.|FINANCING COSTS||||||||||
||||||||||2020
6|2019f|
||Bank interest payable||||||||350,809|359,870|
||Other interest payable||||||||||
||Fees In Advance
debt financing costs||||||||||
||Lease finance costs||||||||||
||Pension Scheme financing cost||||||||||
||Bank charges||||||||31,319|58,875|
||Otherfinance
costs||||||||||
||Provision
for bad and doubtful||debts||||||160,904|35,763|
||||||||||543,032|454,508|
##
##
|STAFF COSTS|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||2020||2019|
|||||||||||||E||E|
|The aggregate
payroll||costs for the|||year were:||||||||||
|Wages and salaries|||||||||||11,639,695|||11,141,867|
|Social security costs||||||||||||1,094,768||1,053,532|
|Other pension costs|||||||||||1,727,498|||1,240,396|
|Private medical insurance||||||||||||||2,537|
||||||||||||14,461,961|||13,438,332|
|Included
in staff costs|are redundancy||||or termination||||payments
totalling||E55,238(2019:F12,096).||||
|The amount
outstanding||at|the|year-end||was|F16,320(2019:Enil).||||||||
|None ofthe governors|received|||remuneration|||or other||benefits from|Ardingly||College|or from any||
|connected
body.|||||||||||||||
|The Head of College, Head|||ofSenior||School,||Prep|School Head and||the|Director of||Finance 8||
|Resources are classed||by the school|||as being||the Key Management|||Personnel.|||||
|||||||||||||2020||2019|
||||||||||||||E|E|
|Aggregate
employee|benefits|||of key|management|||personnel||||603,446||631,620|
|The number of higher||paid|employees|||whose|annual||emoluments||||||
|were E60,000 or more||was:|||||||||||||
|||||||||||||2020||2019|
|||||||||||||No||No|
|||||||||||||||(restated)|
|F60,001 - E70,000||||||||||||||7|
|E70,001 - F80,000||||||||||||||2|
|E80,001 - E90,000||||||||||||||2|
|E90,001 - F100,000||||||||||||||1|
|E100,001 - E110,000|||||||||||||||
|F110,001 - E120,000|||||||||||||||
|E120,001 - F130,000|||||||||||||||
|F130,001 - F140,000|||||||||||||||
|E140,001 - E150,000|||||||||||||||
|F150,001 - E160,000|||||||||||||||
|F160,000 - E170,000|||||||||||||||
|E170,000 - E180,000|||||||||||||||
|The number
with retirement|||benefits||accruing:||||||||||
|- in Defined Contribution||schemes was|||||||||||||
|Ofwhich the contributions|||amounted||to|||||||E70,758||E67,145|
|- in Defined Benefit schemes was|||||||||||||||
|Of which the contributions|||amounted||to|||||||E137,896||E95,588|
##
##
##
|The average
number ofemployees
during
the
(2019:429)|year calculated
on a head count basis, was|468|
|---|---|---|
||2020|2019|
||No|No|
|Teaching|152|145|
|Welfare|114|102|
|Premises|35|33|
|Support|81|74|
|Other activities|86|75|
||468|429|
##
##
|||||||||N
I
IA r
IA N IO
-«I
N. N O
I ol|N
I
IA r
IA N IO
-«I
N. N O
I ol|N
I
IA r
IA N IO
-«I
N. N O
I ol|||O CO
O ID
O
CO
I
VJ CO
VJ CO|OJ
IA
O"
I|OJ
CI
CI||CD
IA
IA
IA||N
IA
CO
CI|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||||C«||N|
||||||0
0
5|VJ
CI
0
'C|4J|Q
VJ
VJ|||CJ
PJ
PJ||VJ N
IO O
CO IO
I||||IA|||
|||||||||CON|||CON||CO VJ||||ID|||
||||||CI C
0J
0.E
E.~
0O~||IJI|CO VJ
N
CD
O CO
IA IO
OJ N|CD
CO
O
Of||IO
CI
N||N O
CD O
O IA
I
VJ|~
O|||IAN
IA|||
|||||||C
E
CL|4J|CD IO
I
O
IO OJ
NO
Q VJ|m
O
O
CO||CJ
CJ||N ID
IO ID CO
OJ IA
VJ IOO
ID ID||N
IA
IXI
CO|||||
|||||||Cf||||||||||||||
|||||||LLI||||||||||||||
|||||N
IV|CJ
~|C
00|IJJ|OJ «I
IA IA
NO
«C0||CD
CI|N
O
CJ||||||NN
I«O|||
|||||||NC0O||CO IO||||||||||||
||||||JD0
ID
ID
LL|IV Cvl
C
NE
ID
0||O I
O «C
'lC IA
CO
CO
IO|||||I
V)
O
IO VJ
IO
N||03
CI
N
CO||OI
Cff
OI|||
|||||||CLE||||||||||||||
|o
I-|ILI
ct
I-
I-|O
o
N
CLI||'0
0
8
LL|vd
~C
~|||OI
COCO
N
«C
I
CJ
I
N
N||CO
O
IO
I
VJ|CD
CD||||||CI
I
N||CI
N|
||Co
I
4 V)
0+||IAI-
LU
Iff|||||||||||||||N||
|0
&-
5Z
0
IY
c(|2
~a
I- PCI
oa
Co
lU 0'
0 ICI
z &-||IA
«C
CI
X
ICI
«C
I-
N|0.
E
'0c
N
0.
0|||8
O|OJ
CI
ID
E
ID
CL N
CJ C
ID 0
'0
«C &
N
N
ClN v-
0 N
CL C
N
Gf
CI I—|||CI
N
Ih
DJ
«C|C
0
CLe
O|OJ
CI
N
IDl0E
CJ
CL
GJ
«C
ID
CJ
ID6
0
VJ
4
ID
DJ 2
N
O CI||CJ
N
CI
N
Of
«C|IV
CI
Q
N C«
«QN
0 «
0 N
CD
8Z «C||CD0
ID
CJ
ID
000
ID
Z|Cn
O
Pv|
##
##
||||Securities||
|---|---|---|---|---|
||||Investments||
||||2020f|2019f|
|Group investments|||||
|At 1 September|||1,026,163|9,840|
|New money
invested||||1,022,829|
|Reinvested
income|||||
|Amounts
extracted|||||
|Investment
management||fees|||
|Realised gains/(losses)||on investments|||
|Unrealised
gains/(losses)||on|(62,585)|(6,506)|
|investments|||||
|Movement
in uninvested||cash|||
|Group investments|at 31August||963,578|1,026,163|
|Investment
in subsidiaries|||||
|Company
investments||at 31August|963,581|1,026,166|
|Investments
comprise:|||||
|Listed investments|||||
|Fixed interest|||||
|Equities|||963,578|1,026,163|
|Unlisted
investments|||||
|Land and buildings|||||
|Other|||||
|Cash|||||
|Group investments|at 31August||963,578|1,026,163|
|Investment
in subsidiaries|||3|3|
|Company
investments||at 31August|963,581|1,026,166|
|14.|DEBTORS||||||
|---|---|---|---|---|---|---|
||||Group||Company||
||||2020f|2019f|2020f|2019f|
||School fees receivable||251,551|161,831|251,551|161,831|
||Trade debtors||276,869|180,563|18,418|3,259|
||Staff loans||||||
||Other debtors||228,787|93,909|228,787|34,765|
||Prepayments|and accrued income|180,935|258,498|180,935|258,498|
||Tax recoverable||19,477|2,028|65||
||Amounts
due|from subsidiary|||452,355|602,202|
||company||||||
||Amounts
due|from parent company|17,298|11,188|17,298|11,188|
||||974,917|708,017|1,149,409|1,071,743|
##
##
||||Group||Company||
|---|---|---|---|---|---|---|
||||2020f|2019
f|2020
6|2019
F|
|Bank loans and|overdraRs||192,192|184,866|192,192|184,866|
|Otherloans|||||||
|Net obligations|under finance||||||
|leases|||||||
|Deposits from parents|||339,051|362,296|339,051|362,296|
|Fees received
from parents||in|2,859,419|3,030,866|2,859,419|3,030,866|
|advance ofterm|||||||
|Trade creditors|||992,343|1,070,941|885,279|1,048,778|
|Taxation and social security|||7,249|14,736||240|
|Other creditors|||215,642|175,289|197,482|178,452|
|Fees in Advance|Scheme||116,297|113,546|116,297|113,546|
|Accruals|||721,135|614,181|703,721|592,309|
|Deferred
income|||340,763||||
|Amounts
due to|subsidiary||||||
|company|||||||
|Amounts
due to|parent company||||||
||||5,784,091|5,566,721|5,293,441|5,511,353|
##
|16.|CREDITORS: amounts|CREDITORS: amounts|falling due|falling due|after one year||||
|---|---|---|---|---|---|---|---|---|
||||||Group||Company||
||||||2020f|2019
f|2020
F|2019f|
||Bank loans and|overdrafts|||7,455,126|5,894,318|7,455,126|5,894,318|
||Fees received from parents|||in|||||
||advance ofterm||||||||
||Net obligations|under finance leases|||||||
||Deposits from parents||||1,817,144|1,467,096|1,817,144|1,467,096|
||Other creditors||||||||
||Fees in Advance|Scheme|||215,465|147,714|215,465|147,714|
||Amounts
due to|parent company|||||||
||||||9,487,735|7,509,128|9,487,735|7,509,128|
##
|||||2020f|2019f|
|---|---|---|---|---|---|
|The|bank|loan is repayable|in instalments|||
|Due|affer|5years||4,797,251|5,044,116|
|Due|within|2 to 5 years||2,451,185|658,009|
|Due|within|1 to 2 years||206 600|192,193|
|Due|after|more than one year||7,455,126|5,894,318|
|Due|within|1 year||192,192|184,866|
|||||7,647,318|6,079,184|
##
|receipt|
ofnotice.
Assuming
pupils
remain
in the scho|ol, fees in advance
will be applied|as follows:|
|---|---|---|---|
|||2020f|2019
F|
|Affer 5|years|||
|Within|2 to 5years|76,520||
|Within|1 to 2 years|138,945|147,714|
|Due after more than one year||215,465|147,714|
|Within|1 year|116,297|113,546|
|||331,762|261,260|
##
##
##
|FEES IN ADVANCE SCHEN|IE (Continued)||
|---|---|---|
|Summary
ofmovements|in liability||
|Balance at 1 September 2019||261,260|
|New contracts||186,368|
|Repayments|||
|Amounts
used to pay fees||(115,866)|
|Amount
accrued to contract|as debt financing cost||
|Balance at 31August 2020||331,762|
##
|The f|ut|ure
minimum
commitmen|ts
under non-cancellab|le
operating|leases are:||
|---|---|---|---|---|---|---|
||||Land and|buildings|Other||
||||2020
f|2019|2020f|2019f|
|Within||1 year|||64,477|49,997|
|Within||1 to 5 years|||152,707|92,457|
|After|5|years|||1,864||
||||||219,048|142,454|
##
|||2020|2019f|
|---|---|---|---|
|Authorised||||
|100Ordinary|Shares off1 each|100|100|
|Allotted, called up and fully paid||||
|100Ordinary|Shares off1 each|100|100|
##
##
##
|Bursary|Fund||||301,073|
|---|---|---|---|---|---|
|Ardingly|College|Prize &|Bursary|Fund|113,850|
|Capital|Projects||||100,000|
|Student|Hardship|Fund|||57,832|
|Strength|& Conditioning||Centre||31,207|
|150w Anniversary||events|||10,000|
||||||613662|
##
##
|t31Auust2020the|sewere:||
|---|---|---|
|g ,||f|
|Specific Development|Campaigns|493,810|
|Drake Fund||1,263,467|
|Composition
Fee Schemes||331,762|
|General Reserve||15,527,998|
|Pension Reserve||(1,325,000)|
|Trading
Subsidiary||(428,759)|
|||15,863,278|
|have been designated|for particular|for particular|
|---|---|---|
|Greatest Need|6407,087||
|Science Projects
Solar Car
Capital Projects|F
f
f|29,155
17,603
16,445|
|General
Bursary|F|7,239|
##
|23. ANALYSIS OF NET|ASSETS BETWEEN|FUNDS||||
|---|---|---|---|---|---|
|||||Total|Total|
||Unrestrictedf|Restrictedf|Endowedf|2020f|2019
F|
|Tangible fixed assets|29,262,166||289,413|29,551,579|27,408,152|
|Securities investments|957,308||6,270|963,578|1,026,163|
|Advance fees contracts|331,762|||331,762|261,260|
|Net current|(3,875,223)|613,962|(27,017)|(3,288,278)|(3,075,742)|
|(liabilities)/assets||||||
|Long term liabilities
Net pension
liability|(9,487,735)
~1,325 000|||(9,487,735)
~1325 QDD|(7,509,128)
~17360,00,|
||15,863,278|613,962|268,666|16,745,906|16,374,705|
|||||Total|Total|
||Unrestrictedf|Restrictedf|Endowed|2019f|2018f|
|Tangible fixed assets|27,118,739||289,413|27,408,152|23,214,259|
|Securities investments|1,018,513||7,650|1,026,163|9,840|
|Advance fees contracts|261,260|||261,260||
|Net current
(liabilities)/assets|(3,588,550)|539,825|(27,017)|(3,075,742)|1,284,840|
|Long term liabilities
Net pension
liability|(7,509,128)
~1,736 1100|||(7,509,128)
~1736000|(7,628,723)
~1,200,000|
||15,564,834|539,825|270,046|16,374,705|15,672,216|
##
##
##
|24. SUMMARY O|F MO|VEMENTS ON|MAJOR FUND|S||||
|---|---|---|---|---|---|---|---|
||||||||At,|
|||At 1 Sept
2019
5|Income|Expenditure
6|Transfers
5|Gains/
(losses)f|Aug(
20.
'
I|
|Endowed —Permanent||||||||
|Property||283,572|||||283,57''|
|Shares||7,650||||(1,380)|6,27(|
|Revaluation||(21,176)|||||(21,17t|
|Total Endowment||270,046||||(1,380)|268,66$|
|Restricted
Funds||||||||
|Bursary Fund||301,073|||||301,073|
|Ardingly
College Prize
& Donation
Fund||104,755|13,544|(4,448)|||113,851|
|Strength
& Conditioning
Centre||76,539||(45,332)|||31,20/|
|Student
hardship||57,458|373||||57,831|
|Capital Proiects|||100,000||||100,m|
|15(F'Anniversary|events||10,000||||10,00C|
|||539,825|123,917|(49,780)|||613,961|
|Unrestricted
Funds||||||||
|Specie Development
Campaigns||107,369|393,786|(7,345)|||493,8'|
|Bursary funds
Drake Fund||1,324,672|35,478|(35,478)||(61,205)|1,263,4i|
|CJRS grant|||1,167,160|(1,167,160)||||
|Composition
Fee
Schemes||261,260|186,368|(115,866)|||331,7i|
|General Reserve||15,680,263|20,519,907|(20,672, 172)|||15527 9(|
|Pension Reserve||(1,736,000)|5,000|||406,000|(1,325,00|
|Trading
Subsidiary||(72,830)|219,994|(575,923)|||(428,75|
|||15,564,734|22,527,693|(22,573,944)||344,795|15,863,2:|
|Total Funds||16,374,605|22,651,610|(22,623,724)||343,415|16,745,9(|
##
##
##
|24. (Continued)
SUMMA|RY OF MOVE|MENTS ON|MAJOR FUNDS||||
|---|---|---|---|---|---|---|
|||||||At 31|
||At 1 Sept||||Gains/|August|
||2018f|incomef|Expendituref|Transfersf|(losses)f|2019
f|
|Endowed —Permanent|||||||
|Property|283,572|||||283,572|
|Shares|9,840||||(2,190)|7,650|
|Revaluation
Reserve|(21,176)|||||(21,176)|
|Total Endowment|272,236||||(2,190)|270,046|
|Restricted
Funds|||||||
|Bursary Fund
Ardingly
College Prize
& Donation
Fund|107,763|302,073
12,977|(1,000)
(15,985)|||301,073
104,755|
|Strength
&
Conditioning
Centre|121,871||(45,332)|||76,539|
|Student
Hardship|57,117|||||57,458|
|Mark Lawrence
Bursary|11,875|75|(17,708)|5,758|||
||298,626|315,466|(80,025)|5,758||539,825|
|Unrestricted
Funds|||||||
|Specific Development
Campaigns|74,466|53,761|(15,100)|(5,758)||107,369|
|Drake Fund
Composition
Fee
Schemes|1,328,988
219,743|232,038|(190,521)||(4,316)|1,324,672
261,260|
|General Reserve|14,685,690|21,911,779|(20,917,206)|||15,680,263|
|Pension Reserve|(1,208,000)|42,000|||(570,000)|(1,736,000)|
|Trading
Subsidiary|365|556,889|(630,084)|||(72,830)|
||15,101,252|22,796,467|(21,752,911)|(5,758)|(574,316)|15,564,734|
|Total Funds|15,672,114|23,111,933|(21,832,936)||(576,506)|16,374,605|
|25. CAPITAL COMMITMENTS|||||||
|At 31 August 2020, the group
had no capital commitments:|||||2020f|2019|
|Expenditure
contracted|for but not provided
in the||accounts|||3,432,562|
##
##
##
##
##
##
|from tho
liabilities|se of the Employer.
The major a
at the balance sheet date are:|s|sumptions
used
by|the actuary
to value|the assets|
|---|---|---|---|---|---|
|||||2020|2019|
|Inflation|assumption
(RPI)|||32%|3.5%|
|Rate of|increase
in salaries|||4.2%|4.5%|
|The assumed
rate of increase to pensions|||in deferment|3.2%|35%|
|The assumed
rate of interest to pensions|||in payment|3 1%|3.4%|
|Assumed|rate used to discount scheme|liabilities||1 7%|1 9%|
|Average|life expectancy|||90.4|90.3|
##
|and Liabilities at each year end in accor|dance with FRS102were:||
|---|---|---|
||2020|2019|
||E|6|
|Total market value ofassets|3,279,000|3,146,000|
|Present value of liabilities|~4804 000|~4,882,000|
|Deficit|1,325,000|1,736,000|
##
|Analysis ofamount recognised||in Statement of Financial|Activities||
|---|---|---|---|---|
||||2020f|2019|
|Current service cost|||47,000|44,000|
|Net interest on defined
benefit||liability|33,000|34,000|
|Expenses
paid from the Scheme|||8 QQQ|8 000|
|Total Cost|||88,000|86,000|
|Analysis ofamount recognised||in other comprehensive|income||
||||2020|2019f|
|Actual
return
on assets
Return
on assets included
in net interest|||136,000
~60,000|269,000
~87,000|
|Asset gain/(loss)|||76,000|187,000|
|Liabifity experience
gain/(loss)
Change ofassumptions
gain/(loss)|||220,000
118000|(95,000)
~654 000|
|Remeasurement
gain/(loss)
comprehensive
income|in other||414,000|~562,000|
|Changes
ln the present value of||the defined benefit liabilities are:|||
||||2020f|2019|
|Opening
value of liabilities|||4,882,000|4,099,000|
|Interest cost|||92,000|115,000|
|Service cost (including
member||contributions)|54,000|50,000|
|Experience
(gain) / loss|||(220,000)|95,000|
|Change ofassumptions
(gain)
Benefits paid|/|loss|(118,000)
~86000|654,000
~737,000|
|Closing value of liabilities|||4,604,000|4,882 000|
|Changes
in the fair value ofthe|assets are as follows:||||
||||2020f|2019f|
|Opening
value ofassets|||3,146,000|2,891,000|
|Expected return|||60,000|81,000|
|Asset gain|||76,000|187,000|
|Contributions
by employer|||84,000|120,000|
|Contributions
by members|||7,000|6,000|
|Benefits paid
Expenses
paid from the scheme
Closing value ofassets|||(86,000)
~8000
3,278 000|(131,000)
~8,000
3,146,000|
|e total value ofthe assets is di|vided
between the main|ass|et classes|as follows:|
|---|---|---|---|---|
||At|31|Aug 20|At 31 Aug 19|
|Equities|||316%|31 8%|
|Gilts|||12.4%|139%|
|Bonds|||29.5%|27.6%|
|Property|||8.1%|7.5%|
|Cash|||0.3%|0.1%|
|Annuities|||18.1%|19.1%|
|Total|||100%|1PP%|
##
##
|||2020|2019|2018|2017|2016|
|---|---|---|---|---|---|---|
|||6'000|F'000|F'000|F'000|6'000|
|Present value of|||||||
|liabilities||4604|4882|4,099|4 398|4677|
|Total market|value of||||||
|assets||3.279|3146|2,891|2,817|2,694|
|Deficit||1,325|1 736|1,208|1,581|1,983|
|Experience|gain /(loss)||||||
|on assets||76|187|75|97|349|
|Experience|gain/(loss)||||||
|on liabilities||220|95|97|80|83|
##
##
##
||INFLOW FROM OP|ERATIONS||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||2020|||2019|
|||||||F|||6|
||Net income for the|period (as per the Statement of Financial|||(34,699)||1,272,491|||
||Activities)|||||||||
||Adjustments
for|||||||||
||Depreciation
charges||||1,878,068||1,509,480|||
||(Gains)/losses
on investments|||||62,585|||6,506|
||Dividends,
interest and rents from investments||||(17,916)|||(38,058)||
||Financing costs|||||543,032|||454,508|
||Loss/(profit)
on the sale of fixed assets|||||(2,078)|||(5,450)|
||Defined benefit pension scheme||||406,000||(570,000)|||
||(Increase)/decrease|in stocks||||119,064|||(229)|
||(Increase)/decrease|in debtors|||(266,900)||||360,630|
||Increase/(decrease)|in creditors|||216,843||1,037,147|||
||Net cash provided
by (used in) operating||activities||2,903,999||4,027,025|||
|28.|ANALYSIS OF CASH AND CASH EQUIVALENTS|||||||||
|||||||2020|||2019|
||Cash in hand and at|bank|||1,803,028||1,875,428|||
||Other loans|||||||||
||OverdraR
facilities repayable
on demand|||||||||
||Total cash and cash|equivalents|||1,803,028||1,875,428|||
|29.|ANALYSIS OF CHANGES
IN NET DEBT|||||||||
|||At 1 Sept|Cash Rows|Other noncash||At 31 Aug||||
|||2019|||changes||2020|||
||||||6||6|||
|Cash|and cash equivalents|||||||||
|Cash||1,875,428|(72,400)|||1,803,028||||
|Overdrafls||||||||||
|Cash|equivalents|||||||||
|||1,875,428|(72,400)|||1,803,028||||
|Borrowings||||||||||
|Debt due within one year||(184,866)|184,866||(192,192)|(192,192)||||
|Debt due after one year||(5,894,318)|(1,753,000)||192,192|(7,455,126)||||
|||(6,079,184)|(1,568,134)|||(7,647,318)||||
|Total||(4,203,756)|(1,640,534)|||(5,844,290)||||
##
##
##
|31, Consolidated
Statement of|Financial Activities|—Comparative|figures by|fund|type|
|---|---|---|---|---|---|
|Year Ended 31 August|Unrestricted|Restricted|Endowed||Total|
|2019||||||
||f|f||f||
|Income and endowments||||||
|from Charitable
activities||||||
|School fees receivable|20,058,898||||20,058,898|
|Ancillary
trading
income|644,877||||844,877|
|Other trading activities||||||
|Non-ancillary
trading
income|1,773,797||||1,773,797|
|Other Activities|35,019||||35,019|
|Investments||||||
|Investment
income||||||
|Bank and other interest|24,665|13,393|||38,058|
|Voluntary
sources||||||
|Grants and donations|53,761|302,073|||355,834|
|Other Income|5,450||||5,450|
|Other incoming
resources||||||
|Total Incoming Resources|22,796,467|315,466|||23,111,933|
|Expenditure
on:||||||
|Raising funds||||||
|Non ancillary
trading|1,290,831||||1,290,831|
|Other income generating||||||
|activities||||||
|Financing
costs|454,508||||454,508|
|Investment
management||||||
|Fundraising
and|82,381||||82,381|
|development||||||
|Total Deductible Costs|1,827,720||||1,827,720|
|Charitable
activities||||||
|Education
and grant making|19,925,191|80 025|||20 005 216|
|Total resources expended|21,752,911|80,025|||21,832,936|
|Net gains/(losses)
on|(4,316)||(2,190)||(6,506)|
|investment
assets||||||
|Net income/(expenditure)|1,039,240|235,441|(2,190)||1,272,491|
|Transfers
between
funds|(5,758)|5,758||||
|Other recognised||||||
|gains/(losses)||||||
|Pension scheme actuarial|(570,000)||||(570,000)|
|gains/(losses)||||||
|Net movement
in funds for
the year
Fund balances at 1"|463,482
15,101,252|241,199
298,626|(2,190)
272,236||702,491
15,672,114|
|September
Fund Balances at31"
August|15,564,734|539,825|270,046||16,374,605|
##
##
##