| Page | |||
|---|---|---|---|
| Company information |
1 —2 | ||
| Directors' report, Strategic report | and the Directors' | 3 —28 | |
| responsibility | statement | ||
| Independent | auditor's report |
29-32 | |
| Consolidated | statement offinancial activities |
33 | |
| Company statement offinancial |
activities | 34 | |
| Consolidated | and Company Balance Sheet. |
35 | |
| Consolidated | cashflow statement | 36 | |
| Notes to the | financial statements | ofthe Company | 37 —67 |
| Governors | Governors | M R Slumbers | (Chairman) | (Chairman) | ||||
|---|---|---|---|---|---|---|---|---|
| Mrs A-M Edgell | (Deputy | Chair) | ||||||
| D E Austin | ||||||||
| Mrs J Brown (appointed | 17June 2022) | |||||||
| R Crawford Clarke |
||||||||
| Baroness J Cumberlege | (resigned 17June 2022) | |||||||
| A D Fairclough | ||||||||
| Prof M J G Farthing | ||||||||
| DrSGodward | ||||||||
| TJ P Hancock | ||||||||
| J B Higgo | ||||||||
| Mrs C Houston | ||||||||
| Ms H O' Sullivan | ||||||||
| H C R Lawson | ||||||||
| J A Scott | ||||||||
| Ex-Officio | Provost | The Rt Revd C | J Meyrick, | Bishop of Lynn | ||||
| Secretary | and Clerk | Mrs H Betts | ||||||
| Charity | No. | 1076483 | ||||||
| Company | No. | 03779985 | ||||||
| Principal | address | and Registered | Office | Lancing College | ||||
| Lancing | ||||||||
| West Sussex | ||||||||
| BN15 ORW | ||||||||
| Head | D T Oliver | |||||||
| Bursar | M B Milling CA | |||||||
| Auditor | RSM UK Audit | LLP | ||||||
| Portland | ||||||||
| 25 High Street | ||||||||
| Crawley | ||||||||
| RH10 1BG | ||||||||
| Bankers | Barclays Bank | pic | ||||||
| 1 Churchill Place |
||||||||
| Canary Wharf | ||||||||
| London | ||||||||
| E145HP |
| 2021/22 | 2020/21 | ||||
|---|---|---|---|---|---|
| Senior school | 600 | 575 | |||
| Hove Prep | 179 | 183 | |||
| Hove Pre-Prep | 113 | 102 | |||
| Worthing | Prep | 121 | 121 | ||
| Worthing | Pre- | ||||
| Prep | 73 | 67 | |||
| Total | 1,086 | 1,048 | |||
| 2021/22 | 2020/21 | ||||
| Boys | Girls | Boys | Girls | ||
| Senior school | 343 | 257 | 323 | 252 | |
| Hove Prep | 116 | 63 | 124 | 59 | |
| Hove Pre-Prep | 64 | 49 | 56 | 46 | |
| Worthing | Prep | 65 | 56 | 63 | 58 |
| Worthing | Pre- | ||||
| Prep | 35 | 38 | 31 | ||
| Total | 623 | 463 | 597 | 451 |
| DIRECTORS | DIRECTORS | DIRECTORS | DIRECTORS | DIRECTORS | ||
|---|---|---|---|---|---|---|
| The directors who are also Trustees for the purpose ofcharity law who served |
during | the year, and | ||||
| the committees | ofwhich they were members, | are: | ||||
| M R Slumbers | (Chair) | Finance and General | Purposes | |||
| Membership | and Nominations | |||||
| Education | ||||||
| Investment | ||||||
| Exofficio all other subcommittees | ||||||
| D EAustin | Governors | and Staff | Liaison | (Chair) | ||
| Designated | Health and Safety | |||||
| Governor | ||||||
| Mrs J Brown | Education | |||||
| Baroness Cumberlege (resigned 17June 2022) |
||||||
| R Crawford Clarke |
Finance and General | Purposes | ||||
| Mrs A-M Edgell | (Deputy Chair) | Designated | Child Protection | Governor | ||
| Governors | and Staff | Liaison | ||||
| A D Fairclough | ||||||
| Prof M JG Farthing | Education | (Chair) | ||||
| DrSGodward | Designated | EYFSGovernor | ||||
| TJ P Hancock | Finance and General | Purposes | ||||
| (Chair) | ||||||
| Investment | ||||||
| J B Higgo | Education | |||||
| Mrs C Houston | Finance and General | Purposes | ||||
| Ms H O' Sullivan | Education | |||||
| H C R Lawson | Membership | and Nominations | ||||
| JA Scott | Finance and General | Purposes |
| Unrestricted | Restricted | Endowed | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|---|
| Notes | Funds | Funds | Funds | 2022 | 2021 | ||||
| f | f | 2 | f | ||||||
| Income and endowments | from: | ||||||||
| Income from Charitable | Activities | ||||||||
| School fees receivable | 23,973,398 | 23,973,398 | 20,784,542 | ||||||
| Ancillary trading income |
419,402 | 48,600 | 468,002 | 443,850 | |||||
| Other trading activities |
|||||||||
| Non-ancillary trading |
income | 1,215,371 | 1,215,371 | 400,073 | |||||
| Investments | |||||||||
| Investment income |
17,628 | 17,628 | 20,272 | ||||||
| Bank and other interest | 42,733 | 4,081 | 47,743 | 94,557 | 53,858 | ||||
| Other - Grants and donations | |||||||||
| Grants and donations | 46,397 | 501,453 | 547,850 | 1,054,005 | |||||
| TOTAL INCOME | 25,714,929 | 554,134 | 47,743 | 26,316,806 | 22,756,400 | ||||
| Expenditure on: |
|||||||||
| Raising funds | |||||||||
| Non-ancillary trading |
8 | 889,987 | 889,987 | 382,528 | |||||
| Financing costs | 8/9 | 163,340 | 163,340 | 196,483 | |||||
| Investment management |
8 | 8,574 | 8,574 | 5,875 | |||||
| Fundraismg and development |
8 | 217,225 | 217,225 | 201,265 | |||||
| Other costs | 8 | 3,993 | 3,993 | (5,100) | |||||
| TOTAL RAISING FUNDS | 1,283,119 | 1,283,119 | 781,051 | ||||||
| Charitable Activities |
|||||||||
| Education and grant making |
8 | 23,642,236 | 490,452 | 47,157 | 24,179,845 | 22,183,723 | |||
| TOTAL EXPENDITURE | 8 | 24,925,355 | 490,452 | 47,157 | 25,462,964 | 22,964,774 | |||
| Net income and expenditure | before | ||||||||
| transfers | 789,574 | 63,682 | 586 | 853,842 | (208,374) | ||||
| Realised gains on | |||||||||
| investment assets |
14 | 43,747 | 43,747 | 81,064 | |||||
| Unrealised (losses)/gains |
on | ||||||||
| investment assets |
14 | (161,292) | (161,292) | 65,701 | |||||
| Net income/(expenditure) | 672,029 | 63,682 | 586 | 736,297 | (61,609) | ||||
| Transfers between funds |
|||||||||
| NET MOVEMENT IN FUNDS |
672,029 | 63,682 | 586 | 736,297 | (61,609) | ||||
| Fund balances at 1 September | 2021 | 13,234,825 | 1,565,281 | 1,998,555 | 16,798,661 | 16.860,270 | |||
| FUND BALANCES AS AT | 31AUGUST 2022 | 13,906,854 | 1,628,963 | 1,999,141 | 17,534,958 | 16,798,661 |
| Unrestricted | Restricted | Endowed | Endowed | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|---|
| Notes | Funds | Funds | Funds | 2022 | 2021 | ||||
| 5 | 8 | 8 | 8 | ||||||
| Income and endowments | from: | ||||||||
| Income from Charitable | Activities | ||||||||
| School fees receivable | 2 | 22,161,908 | 22,161,908 | 19,200,881 | |||||
| Ancillary trading income |
3 | 387,801 | 48,600 | 436,401 | 417,244 | ||||
| Other trading activities | |||||||||
| Non-ancillary trading income |
314,625 | 314,625 | 55,240 | ||||||
| Investments | |||||||||
| Investment income |
17,628 | 17,628 | 20,272 | ||||||
| Bank and other interest | 42,733 | 4,081 | 47,743 | 94,557 | 53,658 | ||||
| Other - Grants and donations | |||||||||
| Grants and donations | 46,397 | 501,453 | 547,850 | 978,672 | |||||
| TOTAL INCOME | 22,971,092 | 554,134 | 47,743 | 23,572,969 | 20,725,967 | ||||
| Expenditure on: |
|||||||||
| Raising funds | |||||||||
| Financing costs | 8/9 | 151,407 | 151,407 | 198,186 | |||||
| Investment management |
8 | 8,574 | 8,574 | 5,875 | |||||
| Fundraising and development |
8 | 217,225 | 217,225 | 201,265 | |||||
| Other costs | 8 | 3,993 | 3,993 | (5,100) | |||||
| TOTAL RAISING FUNDS | 381,199 | 381,199 | 400,226 | ||||||
| Charitable Activities |
|||||||||
| Education and grant making |
8 | 21,678,156 | 490,452 | 47, | 157 | 22,215,765 | 20,358,291 | ||
| TOTAL EXPENDITURE | 8 | 22,059,355 | 490,452 | 47,157 | 22,596,964 | 20,758,517 | |||
| Net income and expenditure | before | ||||||||
| transfers | 911,737 | 63,682 | 586 | 976,005 | (32,550) | ||||
| Realised gains on | |||||||||
| investment assets |
14 | 43,747 | 43,747 | 81,064 | |||||
| Unrealised (losses)/gains on |
|||||||||
| investment assets |
14 | (161,292) | (161,292) | 65,701 | |||||
| Net income | 794,192 | 63,682 | 586 | 858,460 | 114,215 | ||||
| Transfers between funds |
|||||||||
| NET MOVEMENT IN FUNDS |
794,192 | 63,682 | 586 | 858,460 | 114,215 | ||||
| Fund balances at 1 September | 2021 | 15,313,793 | 1,565,281 | 1,998,555 | 18,877,629 | 18,763,414 | |||
| FUND BALANCES AS AT | 31AUGUST 2022 | 16,107,985 | 1,628,963 | 1,999,141 | 19,736,089 | 18,877,629 |
| Group | Group | Company | Company | |||
|---|---|---|---|---|---|---|
| Notes | 2022 | 2021 | 2022 | 2021 | ||
| 6 | 6 | f | ||||
| FIXEDASSETS | ||||||
| Tangible assets | 13 | 20,660,121 | 20,685,918 | 20,335,023 | 20,322,598 | |
| Investments | 14 | 1,134,123 | 1,242,614 | 1,134,225 | 1,242,716 | |
| 21,794,244 | 21,928,532 | 21,469,248 | 21,565,314 | |||
| CURRENT ASSETS | ||||||
| Stocks | 192,706 | 197,224 | 54,859 | 49,898 | ||
| Debtors | 15 | 879,557 | 567,714 | 3,484,755 | 2,686,424 | |
| Cash | 16 | 11,853,954 | 13,127,689 | 11,202,238 | '12,997,597 | |
| 12,926,217 | 13,892,627 | 14,741,852 | 15,733,919 | |||
| CURRENT LIABILITES | ||||||
| Creditors payable within |
one year | 17 | (9,195,003) | (10,343,347) | (8,484,511) | (9,742,453) |
| NET CURRENT ASSETS | 3,731,214 | 3,549,280 | 6,257,341 | 5,991,466 | ||
| TOTAL ASSETSLESS | CURRENT | |||||
| LIABILITIES | 25,525,458 | 25,477,812 | 27,726,589 | 27,556,780 | ||
| LONG TERM LIABILITIES | ||||||
| Creditors payable after one year | 18 | (7,955,475) | (8,484,295) | (7,955,475) | (8,484,295) | |
| Provision for liabilities | 32 | (34,925) | (194,756) | (34,925) | (194,756) | |
| TOTAL NET ASSETS | 17,535,058 | 16,798,761 | 19,736,189 | 18,877,729 | ||
| REPRESENTED BY: | ||||||
| CAPITAL AND RESERVES | ||||||
| Called up share capital | 23 | 100 | 100 | 100 | 100 | |
| FUNDS | ||||||
| Endowed funds |
24 | 1,999,141 | 1,998,555 | 1,999,141 | 1,998,555 | |
| Restricted funds | 25 | 1,628,963 | 1,565,281 | 1,628,963 | 1,565,281 | |
| Unrestricted funds: |
||||||
| General reserve | 26 | 13,906,854 | 13,234,825 | 16,107,985 | 15,313,793 | |
| EQUITY SHAREHOLDERS' FUNDS |
17,535,058 | 16,798,761 | 19,736,189 | 18,877,729 | ||
| The financial statements | were approved | and authorised | for issue by the | Board on~... | November 2022 |
|
| and signed on its behalf | by M R Slumbers |
| Notes | 2022 | 2021 | ||
|---|---|---|---|---|
| 6 | 6 | |||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net cash provided by operating activities |
29 | 82,461 | 3,005,792 | |
| 82,461 | 3,005,792 | |||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||
| Dividends, interest and rent from investments |
112,185 | 73,930 | ||
| Proceeds from sale of property, plant and equipment |
10,071 | 15,366 | ||
| Purchase of property, plant and equipment |
(1,005,565) | (294,403) | ||
| Proceeds from sale of investments | 267,956 | 887,347 | ||
| Purchase of investments | (277,010) | (901,744) | ||
| Net cash used in investing activities |
(892,363) | (219,504) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES |
||||
| Repayment of borrowing |
(300,493) | (64,126) | ||
| Financing costs | (163,340) | (196,483) | ||
| Net cash used in financing activities |
(463,833) | (260,609) | ||
| CHANGE IN CASH AND CASH EQUIVALENTS |
IN THE YEAR | (1,273,735) | 2,525,679 | |
| CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR | 13,127,689 | 10,602,010 | ||
| CASH AND CASH EQUIVALENTS AT THE END | OF THE YEAR | 30 | 11,853,954 | 13,127,689 |
| The School fees income | The School fees income | comprises: | |||||
|---|---|---|---|---|---|---|---|
| Group | Company | Group | Company | ||||
| 2022 | 2022 | 2021 | 2021 | ||||
| 6 | 6 | 6 | 6 | ||||
| Gross fees | 26,788,798 | 24,689,775 | 23,484,276 | 21,603,279 | |||
| Less: Total scholarships, | bursaries, | etc. | (3,344,098) | (3,056,565) | (3,071,030) | (2,773,694) | |
| 23,444,700 | 21,633,210 | 20,413,246 | 18,829,585 | ||||
| Add back | Scholarships, | Bursaries, | Grants | ||||
| etc. paid | for by' | ||||||
| Endowed | Funds | 47,157 | 47,157 | 48,325 | 48,325 | ||
| The Lancing College Foundation: | |||||||
| Restricted | Funds | 481,541 | 481,541 | 322,971 | 322,971 | ||
| 23,973,398 | 22,161,908 | 20,784,542 | 19,200,881 |
| Unrestricted | Group | Company | Group | Company | |
|---|---|---|---|---|---|
| 2022 | 2022 | 2021 | 2021 | ||
| 6 | 6 | 6 | 6 | ||
| Extras | 234,889 | 233,800 | 247,635 | 243,762 | |
| Entrance fees and registration | fees | 114,265 | 110,290 | 105,822 | 103,127 |
| Commissions | 13,118 | 13,118 | 12,611 | 12,611 | |
| Other income | 57,130 | 30,593 | 31,582 | 11,544 | |
| 419,402 | 387,801 | 397,550 | 371,044 |
| Restricted | Group | Company | Group | Company | |||||
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2022 | 2021 | 2021 | ||||||
| K | 6 | 6 | |||||||
| Contdibutions | to | the | Chapel | Maintenance | Fund | 48,600 | 48,600 | 45,200 | 46,200 |
| Total | 468,002 | 436,401 | 443,850 | 417,244 |
| Turnover | 1,528,110 | 658,547 | |||||
|---|---|---|---|---|---|---|---|
| Cost ofsales | (1,184,010) | (611,019) | |||||
| Gross profit | 344,100 | 47,528 | |||||
| Administration | (106,786) | (44,238) | |||||
| Operating profit |
237,314 | 3,290 | |||||
| Gift Aid donation | (237,288) | ||||||
| Retained profit |
26 | 3,290 | |||||
| The subsidiary donates |
its taxable profits to the company each year under the Gift Aid | scheme. | |||||
| The net assets for Buxbrass | Limited at the end ofthe year was E50,629 | ||||||
| Non-ancillary Trading |
Income | ||||||
| Group | Company | Group | Company | ||||
| 2022 | 2022 | 2021 | 2021 | ||||
| E | E | E | E | ||||
| Nonwncillary trading |
income | ||||||
| Buxbrass Limited |
1,528,110 | 262,288 | 658,547 | 9,336 | |||
| Less: Income eliminated | on | consolidation | (342,&88) | (246,961) | |||
| Less: Grants and Donations | -Government | CJRS | (40,613) | ||||
| Buxbrass Limited |
1,185,222 | 262,288 | 366,973 | 9,338 | |||
| Other activities | |||||||
| Rents receivable | 24,722 | 46,910 | 30,794 | 45,596 | |||
| Interest on overdue fees | 5,427 | 5,427 | 306 | 305 | |||
| 1,215,371 | 314,625 | 400,073 | 55,240 |
| Its results for the yea | r, as | extracted | from the audited accounts, are sum | marised below: |
|
|---|---|---|---|---|---|
| 2022f | 2021 f |
||||
| Income from Charitable | Activities | ||||
| Schoolfees | 1,811,490 | 1,583,660 | |||
| Ancillary trading income |
31,601 | 26,606 | |||
| Non-ancillary trading |
income | 11,982 | 600 | ||
| Grants and Donations | -Government | CJRS | 34,719 | ||
| TOTAL INCOME | 1,855,073 | 1,645,585 | |||
| EXPENDITURE | |||||
| Education and grant |
making | (1,977,261) | (1,824,712) | ||
| Deficit for the year | (122,188) | (179,127) |
| Group and | Company | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | 2022 | 2021 | |||||
| 5 | 5 | ||||||
| Securities Investment | Income | ||||||
| Equities and Fixed Interest | 17,628 | 20,272 | |||||
| INVESTMENTS - BANK AND OTHER | INTEREST | ||||||
| Unrestricted | Restricted | Endowed | Group and | Company | |||
| 2022 | 2021 | ||||||
| 6 | |||||||
| Bank interest | 42,733 | 4,081 | 586 | 47,400 | 5,333 | ||
| Other interest | 47, | 157 | 47,157 | 48,325 | |||
| 42,733 | 4,081 | 47,743 | 94,557 | 53,658 |
| Group | Company | Group | Company | ||
|---|---|---|---|---|---|
| 2022 | 2022 | 2021 | 2021 | ||
| 6 | 6 | ||||
| Restricted: | |||||
| Other Donations | 501,453 | 501,453 | 453,210 | 453,210 | |
| Unrestricted: | |||||
| Government | Grants - CJRS | 579 | 579 | 564,958 | 489,625 |
| Other Donations | 45,818 | 45,818 | 35,837 | 35,837 | |
| 547,850 | 547,850 | 1,054,005 | 978,672 |
| 8 | ANALYSIS OF EXPENDITURE | ||||||
|---|---|---|---|---|---|---|---|
| a) | Total expenditure | Staff costs | Support costs | Depreciation | Total 2022 | Total 2021 | |
| (note 10) | (note | 13) | |||||
| 6 | f | 6 | F | ||||
| Costs ofraising funds | |||||||
| Fundraising and development |
165,452 | 51,773 | 217,225 | 201,265 | |||
| Financing costs (note 9) | 151,407 | 151,407 | 198,186 | ||||
| Investment management |
8,574 | 8,574 | 5,875 | ||||
| Loss on disposal ofasset | 3,993 | 3,993 | (5,100) | ||||
| Total for Company | 165,452 | 215,747 | 381,199 | 400,226 | |||
| Finance costs ofsubsidiary | 11,933 | 11,933 | (1,703) | ||||
| Loss on disposal of investment | |||||||
| Non ancillary trading costs of |
395,274 | 488,064 | 6,649 | 589,957 | 382,528 | ||
| subsidiaries | |||||||
| Total for Group | 560,726 | 715,744 | 6,649 | 1,283,119 | 781,051 | ||
| Charitable expenditure |
|||||||
| Teaching | 9,066,689 | 1,600,384 | 299,531 | 10,966,604 | 9,786,273 | ||
| Welfare | 1,639,914 | 1,048,987 | 49,374 | 2,738,275 | 2,321,822 | ||
| Premises | 1,118,435 | 3,628,665 | 630,168 | 5,377,268 | 5,435,959 | ||
| School administration and |
1,454,833 | 1,296,033 | 2,750,866 | 2,420,387 | |||
| governance | |||||||
| Grants awards and prizes |
4,974 | 4,974 | 4,175 | ||||
| Movement in pension recovery |
(159,831) | (159,831) | (53,034) | ||||
| plan (note 32) | |||||||
| School charitable expenditure |
13,120,040 | 7,579,043 | 979,073 | 21,678,156 | 19,915,582 | ||
| Expenditure from other funds: |
|||||||
| Restricted | 490,452 | 490,452 | 394,384 | ||||
| Endowment | 47,157 | 47,157 | 48,325 | ||||
| Total for Company | 13,120,040 | 8,116,652 | 979,073 | 22,215,765 | 20,358,291 | ||
| Total for Subsidiary | 1,453,153 | 479,355 | 31,572 | 1,964,080 | 1,825,432 | ||
| Total for Group | 14,573,193 | 8,596,007 | 1,010,645 | 24,179,845 | 22,183,723 | ||
| Totalresources expended |
|||||||
| -Company | 13,285,492 | 8,332,399 | 979,073 | 22,596,964 | 20,758,517 | ||
| -Group | 15,133,919 | 9,311,751 | 1,017,294 | 25,462,964 | 22,964,774 |
| ANALYSIS OF EX | PENDITURE (continued) | ||
|---|---|---|---|
| Grants and prizes | Group and | Company | |
| 2022 | 2021 | ||
| From unrestricted | funds | f | F |
| Prizes and leaving | awards | 4,974 | 4,175 |
| Company: | 2022f | 2021f | |||
|---|---|---|---|---|---|
| Remuneration | paid | to auditor | for audit services | 24,450 | 20,985 |
| Reimbursement | of | personal | expenses to Governors | 376 | |
| Other Governance | costs | 54,385 | 208,629 | ||
| 79,211 | 229,614 | ||||
| Group: | 2022 f |
2021f | |||
| Remuneration | paid | to auditor | for audit services | 32,400 | 29,105 |
| Reimbursement | of | personal | expenses to Governors | 376 | |
| Other Governance | costs | 57,671 | 209,604 | ||
| 90,447 | 238,709 |
| FINANCING COSTS | |||||
|---|---|---|---|---|---|
| Group | Company | Group | Company | ||
| 2022f | 2022f | 2021 | 2021 f |
||
| Fees in Advance debt financing | costs | 19,565 | 19,108 | 24,856 | 24,588 |
| Lease finance costs | 8,238 | 8,238 | 10,201 | 10,201 | |
| Bank interest payable | 145,522 | 145,522 | 106,707 | 106,707 | |
| Provision for bad and doubtful |
debts | (9,985) | (21,461) | 54,719 | 56,690 |
| 163,340 | 151,407 | 196,483 | 198,186 |
| STAFF COSTS | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Group | Company | Group | Company | ||||||
| 2022f | 2022 f |
2021 | 2021 | ||||||
| Total staff costs comprises: | |||||||||
| Wages and salaries | 12,377,687 | 10,853,814 | 11,506,352 | 10,261,611 | |||||
| Social security costs | 1,275,805 | 1,138,194 | 1,118,526 | 1,008,268 | |||||
| Pension contributions | 1,480,427 | 1,293,484 | 1,408,332 | 1,240,468 | |||||
| 15,133,919 | 13,285,492 | 14,033,210 | 12,510,347 | ||||||
| Included in staff costs are redundancy |
or termination | payments | totalling | ENil | (2021:E26,761). | ||||
| 2022 | 2021 | ||||||||
| Aggregate employee |
benefits ofkey | personnel | (The | Head and | Bursar) | 449,644 | 407,433 |
| Group | Company | Group | Company | |||
|---|---|---|---|---|---|---|
| 2022 | 2022 | 2021 | 2021 | |||
| Number | Number | Number | Number | |||
| Teaching | 151 | 121 | 153 | 124 | ||
| Others | 258 | 223 | 250 | 232 | ||
| 409 | 403 | 356 |
| Group | Company | Group | Company | |||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2022 | 2021 | 2021 | |||||
| Number | Number | Number | Number | |||||
| F60,001 - F70,000 | 21 | 21 | 18 | 18 | ||||
| F70,001 - E80,000 | 5 | 5 | 5 | 5 | ||||
| E80,001 - F90,000 | 4 | 4 | 1 | 1 | ||||
| F90,001 - F100,000 | 3 | 2 | 3 | 2 | ||||
| E100,001 - E110,000 | 1 | 1 | ||||||
| F110,001 -f120,000 | 1 | 1 | ||||||
| f120,001 —f130,000 | ||||||||
| F200,001 - f210,000 |
| 13 | TANGIBLE FIXEDASSETS | ||||||
|---|---|---|---|---|---|---|---|
| Company | Land and | Freehold | Motor | Computer | Fittings and | Company | |
| Buildings | Improvements | Vehicles | Equipment | Equipment | Total | ||
| Freehald | |||||||
| f | |||||||
| Cost | |||||||
| At I September 2021 | 19,599,343 | 1,062,287 | 69,328 | 2,132,031 | 4,924,198 | 27,787,187 | |
| AddiTions | 407,836 | 144,281 | 453,445 | 1,005,562 | |||
| Disposals | (105,477) | (84,455) | (189,932) | ||||
| As 31August 2022 | 20,007,179 | 1,062,287 | 69,328 | 2,170,835 | 5,293,188 | 28,602,817 | |
| Depreciation | |||||||
| At I September 2021 | 1,938,321 | 401,232 | 65,908 | 1,659,900 | 3,401,228 | 7,464,589 | |
| Charge for the year | 342,302 | 49,932 | 3,420 | 242,341 | 341,078 | 979,073 | |
| On disposals | (105,477) | (70,391) | (175,868) | ||||
| At 31August 2022 | 2,278,623 | 451,164 | 69,328 | 1,796,764 | 3,671,915 | 8,267,794 | |
| Net book value | |||||||
| at 31August 2022 | 17,728,556 | 611,123 | 374,071 | 1,621,273 | 20,335,023 | ||
| Net book value | |||||||
| at 31 August 2021 | 17,663,022 | 661,055 | 3,420 | 472,131 | 1,522,970 | 20,322,598 | |
| Group | Company | Land and | Computer | Fittings and | Group | ||
| Total | Buildings | Equipment | Equipment | Total | |||
| Short | |||||||
| Leasehold | |||||||
| Cost | 8 | F. | 8 | ||||
| At 1 September 2021 | 27,787,187 | 182,619 | 96,884 | 488,030 | 28,554,720 | ||
| Additions | 1,005,562 | 1,005,562 | |||||
| Disposals | (189,932) | (189,932) | |||||
| As 31 August 2022 | 28,602,817 | 182,619 | 86,884 | 488,030 | 29,370,350 | ||
| Depreciation | |||||||
| At I September 2021 | 7,464,589 | 49,532 | 95,453 | 259,228 | 7,868,802 | ||
| Charge for the year | 979,073 | 8,214 | 1,431 | 28,577 | 1,017,295 | ||
| On disposals | (175,868) | (175,868) | |||||
| At 31August 2022 | 8,267,794 | 5'7,746 | 96,884 | 287,805 | 8,710,229 | ||
| Net book value | |||||||
| at 31August 2022 | 20,335,023 | 124,873 | 200,225 | 20,660,121 | |||
| Net book value | |||||||
| at 31August 2021 | 20,322,598 | 133,087 | 1,431 | 228,802 | 20,685,918 |
| 14 | INVESTMENTS | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Unrestricted | 6 | |||
| Group Investments as |
at 1 September | 1,242,614 | 1,081,452 | |
| Reinvested income |
17,628 | 20,272 | ||
| Investment management |
fee | (8,574) | (5,875) | |
| Realised gains on investments | 43,747 | 81,064 | ||
| Unrealised (loss) igains |
in investments | (161,292) | 65,701 | |
| Closing market value | 1,134,123 | 1,242,614 | ||
| Group Investments at |
31August | 1,134,123 | 1,242,614 | |
| Investments in subsidiaries |
102 | 102 | ||
| Company investments |
at 31August | 1,134,225 | 1,242,716 | |
| Investments comprise: |
||||
| Listed investments | ||||
| Fixed Interest | 200,604 | 202,631 | ||
| Equities | 816,588 | 908,128 | ||
| 1,017,192 | 1,110,759 | |||
| Alternative investments |
||||
| Other | 49,861 | 73,071 | ||
| 49,861 | 73,071 | |||
| Cash | 67,070 | 58,784 | ||
| Group Investments at |
31August | 1,134,123 | 1,242,614 | |
| Investments in subsidiaries |
102 | 102 | ||
| Company investments |
at 31August | 1,134,225 | 1,242,716 |
| 2022 | 2021 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Investments | in subsidiaries | comprise: | 6 | ||||||||
| Investment | in | subsidiary trading |
company | —Buxbrass | Ltd | 2 | 2 | ||||
| Investment | in | Lancing College | Prep School at Worthing | Ltd | 100 | 100 | |||||
| 102 | 102 |
| DEBTORS | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Group | Company | ||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||
| f | f | 6 | E | ||||||
| Fee debtors | 217,876 | 190,894 | 195,988 | 174,475 | |||||
| Trade debtors | 53,557 | 35,262 | |||||||
| Amounts owed |
by group undertakings | 2,756,153 | 2,202,496 | ||||||
| Other debtors | 111,239 | 85,307 | 108,759 | 85,307 | |||||
| Prepayments | and accrued income | 496,885 | 256,251 | 423,855 | 224,146 | ||||
| 879,567 | 567,714 | 3,484,755 | 2,686,424 | ||||||
| CASH AT BANK BYFUND | |||||||||
| Group | Company | ||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||
| 8 | 6 | 6 | F | ||||||
| Restricted | 1,501,914 | 1,797,246 | 1,501,914 | 1,797,246 | |||||
| Unrestricted | 10,155,453 | 11,134,442 | 9,503,737 | 11,004,350 | |||||
| Endowed | 196,587 | 196,001 | 196,587 | 196,001 | |||||
| 11,853,954 | 13,127,689 | 11,202,238 | 12,997,597 | ||||||
| CREDITORS: | PAYABLE | WITHIN ONE YEAR | |||||||
| Group | Company | ||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||
| 8 | 8 | E | F | ||||||
| Bank loans and | overdrafts | (note | 19) | 475,887 | 237,943 | 475,887 | 237,943 | ||
| Net obligations | under finance leases (Note 21) | 31,462 | 82,584 | 31,462 | 82,584 | ||||
| Deferred consideration | of | freehold ofthe | 61,009 | 62,549 | 61,009 | 62,549 | |||
| Prep School | Hove | ||||||||
| Trade creditors | 544,698 | 1,095,434 | 525,424 | 1,013,751 | |||||
| Amounts owing |
to group | undertakings | 124 | 124 | |||||
| Taxes and social secudity | casts | 316,662 | 274,493 | 275,155 | 238,267 | ||||
| Advance fees | (note 20) | 272,670 | 313,162 | 272,670 | 313,162 | ||||
| Other creditors | 289,246 | 243,439 | 230,990 | 205,215 | |||||
| Accruals | 1,307,553 | 1,403,023 | 1,116,261 | 1,325,100 | |||||
| Final term deposits | 1,154,404 | 601,800 | 1,088,357 | 568,850 | |||||
| Deferred income - fees | received | in advance | 4,741,412 | 6,028,796 | 4,407,296 | 5,694,908 | |||
| 9,195,003 | 10,343,347 | 8,484,511 | 9,742,453 |
| Group | Company | |||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |||
| Amounts falling due; |
6 | f | 6 | |||
| After 5years | 87,493 | 88,193 | 87„493 | 88,193 | ||
| Within 2to 5 years | 1,872,879 | 1,812,215 | 1,872,879 | 1,812,215 | ||
| within 1 to 2 years |
646,032 | 662,796 | 646,032 | 662,796 | ||
| Due after more than | 1 year | 2,606,404 | 2,563,204 | 2,606,404 | 2,563,204 | |
| Due within 1 year |
1,154,404 | 601,800 | 1,088,357 | 568,850 | ||
| 3,760,808 | 3,165,004 | 3,694,761 | 3,132,054 | |||
| CREDITORS: PAYABLE AFTER MORE THAN ONE YEAR | ||||||
| Group | Company | |||||
| 2022 | 2021 | 2022 | 2021 | |||
| f | 5 | 6 | 6 | |||
| Bank Loans (note 19) |
4,877,837 | 5,353,724 | 4,877,837 | 5,353,724 | ||
| Net obligations under |
finance leases | 15,531 | 30,988 | 15,531 | 30,988 | |
| (note 21 ) | ||||||
| Final term deposits | 2,606,404 | 2,563,204 | 2,606,404 | 2,563,204 | ||
| Advance fees (note 20) | 381,549 | 401,216 | 381,549 | 401,216 | ||
| Deferred consideration | offreehold ofthe | 74,154 | 135,163 | 74,154 | 135,163 | |
| Prep School Hove | ||||||
| 7,955,475 | 6,484,295 | 7,955,475 | 8,484,295 |
| Group and | Company | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| 5 | F | |||
| Due | After | 5years | 2,974,291 | 3,450,178 |
| Due | within | 2 to 5 years | 1,427,660 | 1,427,660 |
| Due | within | 1 to 2 years | 475,886 | 475,886 |
| Due | after | more than1 year | 4,877,837 | 5,353,724 |
| Due | within | 1 year | 475,887 | 237,943 |
| 5,353,724 | 5,591,667 |
| Group | Company | |||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |||
| 6 | f | f | 6 | |||
| After | 5 | years | 110,853 | 144,599 | 110,853 | 144,599 |
| Within | 2 to5years | 133,672 | 104,802 | 133,672 | 104,802 | |
| Within | 1 to 2 years | 137,024 | 151,815 | 137,024 | 151,815 | |
| 381,549 | 401,216 | 381,549 | 401,216 | |||
| Within | 1 year | 272,670 | 313,162 | 272,670 | 313,162 | |
| 654,219 | 714,378 | 654,219 | 714,378 |
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||||
| F | 8 | 8 | |||||
| Liabilities | at 1 September | 714,378 | 1,320,721 | 714,378 | 1,320,721 | ||
| New contracts | 278,703 | 278,703 | |||||
| 993,081 | 1,320,721 | 993,081 | 1,320,721 | ||||
| Amounts | utilised | in payment | offees | (338,862) | (526,519) | (338,862) | (525,519) |
| Amounts | repaid | (79,824) | (79,824) | ||||
| Liabilities | at 31 | August | 654,219 | 714,378 | 654,219 | 714,378 |
| Group and | Company | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Amounts | falling due: | 6 | 5 | |
| ARer 5 | years | |||
| Within | 2 | to 5years | 6,475 | 5,435 |
| Within | 1 | to 2 years | 9,056 | 25,553 |
| 15,531 | 30,988 | |||
| Within | 1 | year | 31,462 | 82,584 |
| 46,993 | 113,572 |
| Land and | Buildings | ||
|---|---|---|---|
| 2022 | 2021 | ||
| K | 2 | ||
| Expiry | date: | ||
| Within | one year | 53,765 | 53,765 |
| Within | 1 to 2 years | 53,765 | 53,765 |
| Within | 2to 5years | 53,765 | 107,530 |
| 161,295 | 215,060 |
| Group | and | Company | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| 6 | 2 | ||||
| Authorised | |||||
| 100Ordinary | shares of21 each | 100 | 100 | ||
| Allotted, called up and fully paid | |||||
| 100Ordinary | shares ofEI each | 100 | 100 |
| Group and Company | Group and Company | Movement | in funds | |||||
|---|---|---|---|---|---|---|---|---|
| Balance at 1 | ||||||||
| September | Investment | Balance at 31 | ||||||
| 2021 | Income | Expenditure 8 |
gains /(losses) f |
Transfer E |
August 2022 E |
|||
| Endowed | Funds | 1,998,555 | 47,743 | (47,157) | 1,999,141 | |||
| Group and Company | Movement | in funds | ||||||
| Balance at 1 | ||||||||
| September | Investment | Balance at 31 | ||||||
| 2020 | Income | Expenditure | gains /(losses) | Transfer | August 2021 | |||
| f | E | E | E | F | ||||
| Endowed | Funds | 1,998,170 | 48,710 | (48,325) | 1,998,555 |
| grants he |
ld on trust for s | pecific purposes: | ||||||
|---|---|---|---|---|---|---|---|---|
| Movement | in funds | |||||||
| Balance at 1 | ||||||||
| September | Investment | Balance at 31 | ||||||
| 2021 f |
Income F |
Expenditure F |
gains l(losses) f |
Transfer f |
August 2022 f |
|||
| Chapel Maintenance | 5,880 | 48,670 | (24,533) | 30,017 | ||||
| Woodard | Benefit Fund | 251,013 | 121,102 | (34,217) | 337,898 | |||
| Appeal Donations | 1,308,388 | 384,362 | (431,702) | 1,261,048 | ||||
| Group and Company | 1,565,281 | 554,134 | (490,452) | 1,628,963 | ||||
| Movement | in funds | |||||||
| Balance at 1 | ||||||||
| September | Investment | Balance at 31 | ||||||
| 2020 | Income | Expenditure | gains l(losses) | Transfer | August2021 | |||
| f | f | f | f | f | f | |||
| Chapel Maintenance | 5,988 | 46,246 | (46,354) | 5,880 | ||||
| Woodard | Benefit Fund | 272,535 | (21,522) | 251,013 | ||||
| Appeal Donations | 1,180,775 | 454,121 | (326,508) | 1,308,388 | ||||
| Group and Company | 1,459,298 | 500,367 | (394,384) | 1,565,281 |
| The income | The income | funds ofthe | group are as follows: | group are as follows: | |||||
|---|---|---|---|---|---|---|---|---|---|
| Movement | in funds | ||||||||
| Balance at 1 | |||||||||
| September | Investment | Balance at 31 | |||||||
| 2021 | Income | Expenditure | gains /(losses) | Transfer | August 2022 | ||||
| 5 | 2 | 5 | F | ||||||
| Designated | Funds: | ||||||||
| Foundation | account | 1,300,286 | 46,106 | (62,267) | (117,545) | 1,166,580 | |||
| General funds | 14,013,507 | 22,924,986 | (21,997,088) | 14,941,405 | |||||
| Company | 15,313,793 | 22,971,092 | (22,059,355) | (117,545) | 16,107,985 | ||||
| Subsidiary | |||||||||
| Prep school | subsidiary | (2,129,569) | 1,855,073 | (1,977,262) | (2,251,758) | ||||
| Trading subsidiary |
50,601 | 1,528,110 | (1,528,084) | 50,627 | |||||
| Consolidation | adjustments | (639,346) | 639,346 | ||||||
| Group | 13,234,825 | 25,714,929 | (24,925,355) | (117,545) | 13,906,854 | ||||
| Movement | in funds | ||||||||
| Balance at 1 | |||||||||
| September | Investment | Balance at 31 | |||||||
| 2020 | Income | Expenditure | gains /(losses) | Transfer | August2021 | ||||
| 5 | 5 | E | 6 | f | |||||
| Designated | Funds: | ||||||||
| Foundation | account | 1,275,397 | 35,837 | (157,713) | 146,765 | 1,300,286 | |||
| General funds | 14,030,549 | 20,141,053 | (20,158,095) | 14,013,507 | |||||
| Company | 15,305,946 | 20, 176,890 | (20,315,808) | 146,765 | 15,313,793 | ||||
| Subsidiary | |||||||||
| Prep school | subsidiary | (1,950,457) | 1,645,587 | (1,824,699) | (2,129,569) | ||||
| Trading subsidiary |
47,313 | 658,546 | (655,258) | 50,601 | |||||
| Consolidation | adjustments | (273,700) | 273,700 | ||||||
| Group | 13,402,802 | 22,207,323 | (22,522,065) | 146,765 | 13,234,825 |
| The compa | ny' | s net a |
ssets belong to t | he various funds as |
follows: | ||||
|---|---|---|---|---|---|---|---|---|---|
| Net current | Long term | Total | |||||||
| Fixed assets | Investments | Assets/ | Liabilities | 2022 | |||||
| (Liabilities) | |||||||||
| 6 | |||||||||
| Share capital | 'l00 | 100 | |||||||
| Endowed | funds | 1,999,141 | 1,999,141 | ||||||
| Restricted | funds | 1,626,963 | 1,628,963 | ||||||
| Unrestricted | funds | 20,335,023 | 1,134,225 | 2,629,137 | (7,990,400) | 16,107,985 | |||
| Company | 20,335,023 | 1,134,225 | 6,257,341 | (7,990,400) | 19,736,189 | ||||
| Subsidiary | companies | (Note 33): | |||||||
| Prep school at Worthing | 212,066 | (100) | (2,463,724) | (2,251,758) | |||||
| Buxbrass | 113,032 | (2) | (62,403) | 50,627 | |||||
| Group | 20,660,121 | 1,134,123 | 3,731,214 | (7,990,400) | 17,535,058 | ||||
| Net current | Long term | Total | |||||||
| Fixed assets | Investments | Assets/ | Liabilities | 2021 | |||||
| (Liabilities) | |||||||||
| 6 | 6 | 6 | 6 | ||||||
| Share capital | 100 | 100 | |||||||
| Endowed | funds | 1,998,555 | 1,998,555 | ||||||
| Restricted | funds | 1,565,261 | 1,565,281 | ||||||
| Unrestricted | funds | 20,322,598 | 1,242,716 | 2,427,530 | (8,679,051) | 15,313,793 | |||
| Company | 20,322,598 | 1,242,716 | 5,991,466 | (6,679,051) | 18,877,729 | ||||
| Subsidiary | companies | (Note 33): | |||||||
| Prep school | at Worthing | 243,640 | (100) | (2,373,109) | (2,129,569) | ||||
| Buxbrass | 119,680 | (2) | (69,077) | 50,601 | |||||
| Group | 20,685,918 | 1,242,614 | 3,549,280 | (8,679,051) | 16,798,761 |
| 29 | RECONCILIATION OF NET INCOMING RESOURCES |
RECONCILIATION OF NET INCOMING RESOURCES |
TO NET CASH | |||
|---|---|---|---|---|---|---|
| INFLOW FROM OPERATIONS | Group and | Company | ||||
| 2022 | 2021 | |||||
| f | 8 | |||||
| Net income/(expenditure)for the year |
736,297 | (61,609) | ||||
| Adjustments for |
||||||
| Depreciation oftangible fixed assets |
1,017,298 | 1,024,146 | ||||
| Profit /(Loss) on sale offixed assets | 3,993 | (5,100) | ||||
| (Loss)/gain on investments |
117,545 | (146,765) | ||||
| Interest receivable | (112,185) | (73,930) | ||||
| Interest payable | 163,340 | 196,483 | ||||
| Decrease / (Increase) in stocks |
4,518 | (12,447) | ||||
| (Increase) / Decrease in debtors |
(311,843) | 215,006 | ||||
| (Decrease) / Increase in creditors |
(1,536,502) | 1,870,008 | ||||
| Net cash provided by operating |
activities | 82,461 | 3,005,792 | |||
| 30 | ANALYSIS OF CASH AND CASH | EQUIVALENTS | ||||
| 2022 | 2021 | |||||
| 8 | f. | |||||
| Cash in hand and at bank | 11,853,954 | 13,127,689 | ||||
| Total cash and cash equivalents | 11,853,954 | 13,127,689 | ||||
| 31 | ANALYSIS OF CHANGES IN NET DEBT |
|||||
| Balance at 31 | Cash flows | Other non-cash | Balance at 31 | |||
| August2021 | changes | August 2022 | ||||
| Cash and cash equivalents | ||||||
| Cash | 13,127,689 | (1,273,735) | 11,853,954 | |||
| 13,127,689 | (1,273,735) | 11,853,954 | ||||
| Borrowings | ||||||
| Loans falling due within one year | (237,943) | (237,943) | (475,886) | |||
| Loans falling due afier one year | (5,353,724) | 475,667 | (4,877,837) | |||
| Finance lease obligation due within |
one year | (82,584) | 51,122 | (31,462) | ||
| Finance lease obligation due after |
one year | (30,988) | 15,457 | (15,531) | ||
| (5,705,239) | 304,523 | (5,400,716) | ||||
| Total | 7,422,450 | (969,212) | 6,453,238 |
| 32 | PENSION SCHEMES (Continued) | PENSION SCHEMES (Continued) | PENSION SCHEMES (Continued) | PENSION SCHEMES (Continued) | PENSION SCHEMES (Continued) | PENSION SCHEMES (Continued) | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Present Values | ofProvision | 2022 | 2021 | |||||||||
| E | E | |||||||||||
| Present value of | provision | ~34 925 | 194756 | |||||||||
| Reconciliation | ofopening | and | closing | provisions | 2022 | 2021 | ||||||
| E | E | |||||||||||
| Provision at 1 September | 194,756 | 247,790 | ||||||||||
| Unwinding ofthe |
discount | factor | 1,106 | 1,203 | ||||||||
| Deficit contribution paid |
(38,363) | (53,975) | ||||||||||
| Remeasurements | - impact | of | any | change | in | assumptions | (1,539) | 262 | ||||
| Remeasurements | —amendments | to the contribution | schedule | (121,035) | ||||||||
| Provision at 31 |
August | 34,925 | 194,756 | |||||||||
| income and expenditure | impact | 2022 | 2021 | |||||||||
| E | ||||||||||||
| Interest expense | - unwinding | ofthe discount | factor | 1,106 | 1,203 | |||||||
| Remeasurements | -impact | of | any | change | in | assumptions | (1,539) | (262) | ||||
| Remeasurements | -amendments | to the contribution | schedule | (121,035) | ||||||||
| Costs recognised | in income | and expenditure | account | |||||||||
| Assumptions | 2022 | 2021 | ||||||||||
| %per | % per | |||||||||||
| annum | annum | |||||||||||
| Rate ofdiscount | 4.46 | 0.63 |
| 34 | Consolidated Statement |
Consolidated Statement |
of Financial Activities | of Financial Activities | - Comparative figures |
by fund | type | ||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowed | Total | ||||||
| Year ended 31August | 2021 | Funds | Funds | Funds | 2020 | ||||
| 6 | F | F | 6 | ||||||
| Income and endowments | from: | ||||||||
| Income from Charitable | Activities | ||||||||
| School fees receivable | 20,784,542 | 20,784,542 | |||||||
| Ancillary trading income |
397,850 | 46,200 | 443,850 | ||||||
| Other trading activities |
|||||||||
| Non-anci8ary trading income |
400,073 | 400,073 | |||||||
| Investments | |||||||||
| Investment income |
20,272 | 20,272 | |||||||
| Bank and other interest | 3,991 | 957 | 48,710 | 53,658 | |||||
| Voluntary sources |
|||||||||
| Grants and donations | 600,795 | 453,210 | 1,054,005 | ||||||
| TOTAL INCOMING RESOURCES |
22,207,323 | 500,367 | 48,710 | 22,756,400 | |||||
| Expenditure on: |
|||||||||
| Raising funds | |||||||||
| Non-ancigary Trading |
382,528 | 382,528 | |||||||
| Financing costs |
196,483 | 196,483 | |||||||
| Investment management |
5,875 | 5,875 | |||||||
| Fundraising and development |
201,265 | 201,265 | |||||||
| Other costs | (5,100) | (5,100) | |||||||
| TOTAL DEDUCTIBLE COSTS | 781,051 | 781,051 | |||||||
| Charitable Activities |
|||||||||
| Education and grant making |
21,741,014 | 394,384 | 48,325 | 22,183,723 | |||||
| TOTAL EXPENDITURE | 22,522,065 | 394,384 | 48,325 | 22,964,774 | |||||
| Net income and expenditure | before | ||||||||
| transfers | (314,742) | 105,983 | 385 | (208,374) | |||||
| Realised gains/(losses) on |
|||||||||
| investment assets |
81,064 | 81,064 | |||||||
| Unrealised gains/(losses) on |
|||||||||
| investment assets |
65,701 | 65,701 | |||||||
| Net income/(Expenditure) | (167,977) | 105.983 | 385 | (61,609) | |||||
| Transfers between funds |
|||||||||
| NET MOVEMENT IN FUNDS |
(167,977) | 105,983 | 385 | (61,609) | |||||
| Fund balances at 1 September | 2019 | 13,402,802 | 1,459,298 | 1,998,170 | 16,860,270 | ||||
| FUND BALANCES AS AT | 31AUGUST 2020 | 13,234,825 | 1,565,281 | 1,998,555 | 16,798,661 |