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2022-08-31-accounts
|
Page |
| Company information |
1 |
| Directors' report, incorporating the strategic report |
2 |
| Independent Auditor's report |
17 |
|
|
| Directors |
E L Lewis-Jones (Co Chair) |
|
S T Wood (Co Chair) |
|
L Anelay (appointed 12 July 2022) |
|
P Clayson |
|
E Coles-Kemp |
|
H Harper |
|
G P Jones (resigned31July 2022) |
|
R W Loades (resigned 9 December 2021) |
|
C Macintosh |
|
A Nott (appointed 19 May 2022) |
|
S Richards (appointed 12 July 2022) |
|
CAShaw |
|
MRWard |
| Secretary |
CEJ Little |
| Charity number |
1076484 |
| Company number |
03779976 |
| Principal address and registered office |
Bloxham School |
|
Banbury Road |
|
Bloxham |
|
OX15 4PE |
| Key Management Personnel |
|
| Head |
P W Sanderson |
| Bursar |
CEJ Little |
| Deputy Heads |
M Price |
|
M Buckland |
|
M Bull |
| Auditor |
RSMUKAudit LLP |
|
The Pinnacle |
|
170 Midsummer Boulevard |
|
Milton Keynes |
|
MK9 1BP |
| Bankers |
Barclays Bank PLC
London |
|
SW1A1HE |
| Solicitors |
Brethertons Solicitors
19 South Bar Street |
|
Banbury |
|
OX16 9AF |
| nsurance brokers |
Marsh |
|
Capital House |
|
1 to 5 Perrymount Road |
|
Haywards Heath |
|
West Sussex |
|
RH16 3SY |
|
2021/22 |
2020/21 |
| Boarder |
124 |
136 |
| Day Boarder |
284 |
301 |
| Day Pupil |
122 |
57 |
| Total |
530 |
494 |
| Ofwhich |
|
|
| Boys |
314 |
297 |
| Girls |
216 |
197 |
| KPI |
Target |
Actual |
| Surplus |
5%oftotal income |
2.15% |
| Pupil Numbers |
520 |
530 |
| DIRECTORS |
|
|
| The Directors who |
served during the year, and the committees of which they are members, are: |
|
| ELLewis-Jones |
|
Co-Chair |
|
|
Communications & Development |
| STWood |
|
Co-Chair |
|
|
Communications & Development, F&GP |
| L Anelay |
(appointed 12 July 2022) |
F&GP |
| PRClayson |
|
F&GP |
| E Coles Kemp |
|
Education, Boarding and Pastoral |
| H Harper |
|
Communication & Development |
| GPJones |
(resigned31July 2022) |
Education, Boarding and Pastoral |
| R W Loades |
(resigned 9 December 2021) |
F&GP |
| C Macintosh |
|
Education, Boarding and Pastoral |
| A Nott |
(appointed 19 May 2022) |
Education, Boarding and Pastoral |
| S Richards |
(appointed 12 July 2022) |
F&GP |
| CAShaw |
|
Health & Safety Governor to F&GP |
| MRWard |
|
F&GP |
Sarah Mason
14/12/22
xpenditure Account)
EAR ENDED31STAUGUST2022 |
xpenditure Account)
EAR ENDED31STAUGUST2022 |
|
|
|
|
|
| Notes |
|
Unrestricted |
Restricted |
Endowed |
Total |
Total |
|
|
Funds |
Funds |
Funds |
2022 |
2021 |
|
|
£ |
£ |
£ |
£ |
£ |
| Income and endowments from: |
|
|
|
|
|
|
| Charitable activities |
|
|
|
|
|
|
| Education - School fees |
2 |
12,246,818 |
|
|
12,246,818 |
10,197,872 |
| Education - Ancillary trading |
3 |
748,375 |
|
|
748,375 |
663,808 |
| Other trading activities |
|
|
|
|
|
|
| Non-ancillary trading income |
4 |
664,123 |
|
|
664,123 |
190,590 |
| Job Retention Scheme Grant: |
|
|
|
|
|
248,210 |
| Investments |
|
|
|
|
|
|
| Bank and other interest |
5 |
1,672 |
|
|
1,672 |
153 |
| Other- Grants and donations |
|
|
|
|
|
|
| Grants and donations |
6 |
764 |
54,221 |
15,000 |
69,985 |
105,236 |
| TOTAL INCOME |
|
13,661,752 |
54,221 |
15,000 |
13,730,973 |
11,405,868 |
| Expenditure on: |
|
|
|
|
|
|
| Raising funds |
|
|
|
|
|
|
| Non-ancillary trading |
7(a) |
471,267 |
|
|
471,267 |
759,843 |
| Financing costs |
8 |
327,410 |
|
|
327,410 |
331,866 |
| TOTAL DEDUCTIBLE COSTS |
|
798,677 |
|
|
798,677 |
1,091,709 |
| Charitable activities |
|
|
|
|
|
|
| Education and grant making |
?(a) |
12,478,592 |
153,575 |
|
12,632,167 |
10,867,867 |
| TOTAL EXPENDITURE |
|
13,277,269 |
153,575 |
|
13,430,844 |
11,959,576 |
Net (loss)/gains on investment
assets |
14 |
(5,018) |
|
|
(5,018) |
46,022 |
| Net income/(expenditure) |
|
379,465 |
(99,354) |
15,000 |
295,111 |
(507,686) |
| Transfers between funds |
|
|
|
|
|
|
| Net movementinfunds |
|
379,465 |
(99,354) |
15,000 |
295,111 |
(507,686) |
| Fund balances as at 1 September |
|
7,391,007 |
558,064 |
239,964 |
8,189,035 |
8,696,621 |
| FUND BALANCES AS AT31AUGUST |
24 |
7,770,472 |
458,710 |
254,964 |
8,484,146 |
8,188,935 |
|
Notes |
Unrestricted |
Restricted |
Endowed |
Total |
Total |
|
|
Funds |
Funds |
Funds |
2022 |
2021 |
|
|
£ |
£ |
£ |
£ |
£ |
| Income and endowments from: |
|
|
|
|
|
|
| Charitable activities |
|
|
|
|
|
|
| School fees receivable |
2 |
12,246,818 |
|
|
12,246,818 |
10,197,872 |
| Ancillary trading income |
3 |
1,036,315 |
|
|
1,036,315 |
885,909 |
| Other trading activities |
|
|
|
|
|
|
| Non-ancillary trading income |
4 |
66,003 |
|
|
66,003 |
|
| Job Retention Scheme Grant: |
|
|
|
|
|
248,210 |
| Investments |
|
|
|
|
|
|
| Bank andotherinterest |
5 |
68,686 |
|
|
68,686 |
153 |
| Other- Grants and donations |
|
|
|
|
|
|
| Grants and donations |
6 |
764 |
54,221 |
15,000 |
69,985 |
105,236 |
| TOTAL INCOME |
|
13,418,586 |
54,221 |
15,000 |
13,487,807 |
11,437,380 |
| Expenditure on: |
|
|
|
|
|
|
| Raising funds |
|
|
|
|
|
|
| Non-ancillary trading |
?(a) |
316,666 |
|
|
316,666 |
222,272 |
| Financing costs |
8 |
299,701 |
|
|
299,701 |
292,194 |
| TOTAL DEDUCTIBLE COSTS |
|
616,367 |
|
|
616,367 |
514,466 |
| Charitable activities |
|
|
|
|
|
|
| Education and grant making |
7(a) |
12,836,682 |
153,575 |
|
12,990,257 |
11,377,204 |
| TOTAL EXPENDITURE |
|
13,453,049 |
153,575 |
|
13,606,624 |
11,891,670 |
Net (loss)/gains on investment
assets |
14 |
(5,018) |
|
|
(5,018) |
46,022 |
| Net income/(expenditure) |
|
(39,481) |
(99,354) |
15,000 |
(123,835) |
(408,268) |
| Transfers between funds |
|
|
|
|
|
|
| Net movementinfunds |
|
(39,481) |
(99,354) |
15,000 |
(123,835) |
(408,268) |
| Fund balances as at 1 September |
24 |
7,886,753 |
558,064 |
239,964 |
8,684,781 |
9,092,949 |
| FUND BALANCES AS AT31AUGUST |
|
7,847,272 |
458,710 |
254,964 |
8,560,946 |
8,684,681 |
|
Note |
Group |
Group |
Company |
Company |
|
|
2022 |
2021 |
2022 |
2021 |
|
|
£ |
£ |
£ |
£ |
| FIXED ASSETS |
|
|
|
|
|
| Tangible assets |
12, 13 |
17,504,474 |
14,949,647 |
17,462,264 |
12,253,949 |
| Securities Investments |
14 |
259,841 |
264,859 |
259,841 |
264,859 |
| Investment in subsidiaries |
14 |
|
|
3 |
3 |
|
|
17,764,315 |
15,214,506 |
17,722,108 |
12,518,811 |
| CURRENT ASSETS |
|
|
|
|
|
| Debtors |
15 |
472,869 |
894,511 |
572,367 |
3,898,357 |
| Cash at bank andinhand |
29 |
1,613,886 |
2,503,332 |
1,603,976 |
2,483,178 |
|
|
2,086,755 |
3,397,843 |
2,176,343 |
6,381,535 |
| CURRENT LIABILITIES |
|
|
|
|
|
| Creditors payable within one year |
16 |
(7, 108,270) |
(7,029,897) |
(7,078,851) |
(6,822,148) |
| NET CURRENT LIABILITIES |
|
(5,021,515) |
(3,632,054) |
(4,902,508) |
(440,613) |
| TOTAL ASSETS LESS CURRENT |
LIABILITIES |
12,742,800 |
11,582,452 |
12,819,600 |
12,078,198 |
| LONG TERM LIABILITIES |
|
|
|
|
|
| Creditors payable after one year |
17 |
(4,258,654) |
(3,393,417) |
{4,258,654) |
(3,393,417) |
| NET ASSETS |
|
8,484,146 |
8,189,035 |
8,560,946 |
8,684,781 |
| REPRESENTED BY: |
|
|
|
|
|
| CALLED UP SHARE CAPITAL |
21 |
100 |
100 |
100 |
100 |
| ENDOWED FUNDS |
24 |
254,964 |
239,964 |
254,964 |
239,964 |
| RESTRICTED FUNDS |
24 |
458,710 |
558,064 |
458,710 |
558,064 |
| UNRESTRICTED FUNDS |
|
|
|
|
|
| General |
24 |
7,770,372 |
7,390,907 |
7,847,172 |
7,886,653 |
|
|
8,484,146 |
8,189,035 |
8,560,946 |
8,684,781 |
|
|
2022 |
2021 |
|
Notes |
£ |
£ |
| Cash flows from operating activities: |
|
|
|
| Net cash provided by operating activities |
28 |
1,470,741 |
451,034 |
| Cash flows from investing activities: |
|
|
|
| Dividends, interest and rents from investments |
|
1,672 |
153 |
| Proceeds from the saleofproperty, plant and equipment |
|
2,000 |
|
| Purchaseofproperty, plant and equipment |
|
(3,276,560) |
(1,612,926) |
| Net cash usedininvesting activities |
|
(3,272,888) |
(1,612,773) |
| Cash flows from financing activities: |
|
|
|
| Repaymentsofborrowing |
|
(84,988) |
|
| Repaymentoffinance leases |
|
(28,522) |
|
| Cash inflows from new borrowings |
|
1,210,000 |
2,990,000 |
| Financing costs |
|
(183,789) |
(69,183) |
| Net cash provided by financing activities |
|
912,701 |
2,920,817 |
| Change in cash and cash equivalentsinthe year |
|
(889,446) |
1,759,078 |
| Cash and cash equivalents at the beginning of the year |
|
2,503,332 |
744,254 |
| Cash and cash equivalents at the endofthe year |
29 |
1,613,886 |
2,503,332 |
| 2. |
CHARITABLE ACTIVITIES-SCHOOL FEES RECEIVABLE |
|
|
| (Company and Group) |
|
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
School fees receivable comprise: |
|
|
|
Gross fees |
14,353,977 |
12,544,140 |
|
Less: Total scholarships, bursaries, staff remissions and |
(2,107,159) |
(2,346,268) |
|
other discounts |
|
|
|
|
12,246,818 |
10,197,872 |
|
Scholarships and bursaries were paid to 233 pupils |
(2021: 267 pupils) and totalled £1,397,753 |
(2021: 267 pupils) and totalled £1,397,753 |
|
(2020/21: £1,584,589). |
|
|
| 3. |
CHARITABLE ACTIVITIES-ANCILLARYTRADING INCOME (Group) |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
Extras |
145,981 |
159,983 |
|
Entrance fees and registration fees |
144,088 |
113,144 |
|
Pupil transport |
176,615 |
113,291 |
|
Commissions and related income |
|
170 |
|
Sundry other income |
281,691 |
277,220 |
|
|
748,375 |
663,808 |
|
CHARITABLE ACTIVITIES- ANCILLARY TRADING INCOME (Company) |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
Extras |
145,981 |
159,982 |
|
Entrance fees and registration fees |
144,088 |
113,144 |
|
Pupil transport |
176,615 |
113,291 |
|
Rent receivable and related income |
266,011 |
222,272 |
|
Sundry other income |
303,620 |
277,220 |
|
|
1,036,315 |
885,909 |
| 4. |
OTHER TRADING ACTIVITIES (Group) |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
Bloxham Enterprises Limited - trading turnover |
225,530 |
103,903 |
|
Bloxham Enterprises Limited - rents receivable |
372,523 |
81,286 |
|
Other non-ancillary trading income |
66,070 |
5,401 |
|
|
664,123 |
190,590 |
|
OTHER TRADING ACTIVITIES (Company) |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
Other non-ancillary trading income |
66,003 |
|
| INVESTMENTS (Group) |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Bank interest |
1,672 |
153 |
| INVESTMENTS (Company) |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Bank interest |
1,672 |
153 |
| Other interest |
67,014 |
|
|
68,686 |
153 |
|
Unrestricted |
Restricted |
Endowed |
Total |
Total |
|
|
|
|
2022 |
2021 |
|
|
|
|
£ |
£ |
Legacies and
donations |
764 |
54,221 |
15,000 |
69,985 |
105,236 |
| a)Total expenditure |
|
|
|
|
|
| (Group) |
|
|
|
|
|
|
Staff |
Support |
Depreciation |
Total |
Total |
|
costs |
costs |
|
|
|
|
(Note 9) |
|
(Note 12) |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
£ |
| Costsofraising funds |
|
|
|
|
|
| Non ancillary trading |
224,829 |
221,222 |
25,216 |
471,267 |
759,843 |
| Financing cost (Note 8) |
|
327,410 |
|
327,410 |
331,866 |
Total costofraising
funds |
224,829 |
548,632 |
25,216 |
798,677 |
1,091,709 |
| Charitable expenditure |
|
|
|
|
|
| Teaching |
5,209,476 |
654,201 |
|
5,863,677 |
5,315,151 |
| Welfare |
914,842 |
695,976 |
|
1,610,818 |
1,451,700 |
| Premises |
515,608 |
1,876,264 |
467,935 |
2,859,807 |
2,416,561 |
| School administration |
1,070,781 |
926,170 |
210,315 |
2,207,266 |
1,619,445 |
| Grants awards and |
|
14,572 |
|
14,572 |
24,961 |
| prizes |
|
|
|
|
|
| Governance |
|
76,027 |
|
76,027 |
40,049 |
| Education |
7,710,707 |
4,243,210 |
678,250 |
12,632,167 |
10,867,867 |
| Total expenditure |
7,935,536 |
4,791,842 |
703,466 |
13,430,844 |
11,959,576 |
| a)Total expenditure |
|
|
|
|
|
| (Company) |
|
|
|
|
|
|
Staff |
Support |
Depreciation |
Total |
Total |
|
costs |
costs |
|
|
|
|
(Note 9) |
|
(Note 13) |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
£ |
| Costsofraising funds |
|
|
|
|
|
| Non ancillary trading |
224,829 |
91,837 |
|
316,666 |
222,272 |
| Financing cost (Note 8) |
|
299,701 |
|
299,701 |
292,194 |
Total costofraising
funds |
224,829 |
391,538 |
|
616,367 |
514,466 |
| Charitable expenditure |
|
|
|
|
|
| Teaching |
5,209,476 |
550,512 |
|
5,759,988 |
5,387,190 |
| Welfare |
914,842 |
697,408 |
|
1,612,250 |
1,451,700 |
| Premises |
515,608 |
1,779,279 |
451,204 |
2,746,091 |
2,858,939 |
| School administration |
1,070,781 |
1,512,049 |
210,315 |
2,793,145 |
1,619,445 |
| Grants awards and |
|
14,572 |
|
14,572 |
24,961 |
| prizes |
|
|
|
|
|
| Governance |
|
64,211 |
|
64,211 |
34,969 |
| Education |
7,710,707 |
4,618,031 |
661,519 |
12,990,257 |
11,377,204 |
| Total expenditure |
7,935,536 |
5,009,569 |
661,519 |
13,606,624 |
11,891,670 |
|
2022 |
2021 |
|
£ |
£ |
| Remuneration paid to Auditor for audit services |
|
|
| Current year |
30,000 |
22,680 |
| Prior year |
34,897 |
|
|
64,897 |
22,680 |
| Depreciationoftangible fixed assets: |
|
|
| - owned by the Charitable Company |
634,074 |
498,432 |
| - held under finance leases and hire purchase contracts |
69,391 |
|
| Operating lease rentals: |
|
|
| - land and buildings |
|
|
| - other assets |
132,675 |
56,578 |
| Reimbursementofout-of-pocket expenses to Directors |
|
862 |
| 8. |
FINANCING COSTS (Group) |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
FeesinAdvance debt financing costs |
50,915 |
58,858 |
|
Bank charges |
22,789 |
8,672 |
|
Other finance costs |
183,789 |
48,583 |
|
Provision for bad and doubtful debts |
69,917 |
215,753 |
|
|
327,410 |
331,866 |
| 8. |
FINANCING COSTS (Company) |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
FeesinAdvance debt financing costs |
50,915 |
58,858 |
|
Bank charges |
19,495 |
7,351 |
|
Other finance costs |
183,789 |
10,232 |
|
Provision for bad and doubtful debts |
45,502 |
215,753 |
|
|
299,701 |
292,194 |
| 9. |
STAFF COSTS (Group and Company) |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
The aggregate payroll costs for the year were: |
|
|
|
Wages and salaries |
6,393,641 |
6,001,405 |
|
Social security costs |
667,046 |
573,312 |
|
Other pension costs |
853,056 |
834,583 |
|
Private medical insurance |
21,792 |
25,924 |
|
|
7,935,535 |
7,435,224 |
|
|
2022 |
2021 |
|
|
£ |
£ |
|
Includedinstaff costs were redundancy and termination payments |
42,214 |
20,296 |
| 2022 |
2021 |
| £ |
£ |
| 719,969 |
507,592 |
|
2022 |
2021 |
|
No |
No |
| £60,001 - £70,000 |
3 |
3 |
| £70,001 - £80,000 |
1 |
2 |
| £90,001 - £100,000 |
3 |
1 |
| £130,001 - £140,000 |
|
1 |
| £150,001 - £160,000 |
1 |
|
| The number of higher paid employees with retirement benefits accruing: |
|
|
| - inDefined Contribution schemes was |
1 |
1 |
| Ofwhich the contributions amounted to |
£4,847 |
£4,356 |
| - inDefined Benefit schemes was |
7 |
6 |
| Ofwhich the contributions amounted to |
£152,924 |
£120,459 |
|
2022 |
2021 |
|
No |
No |
| Teaching |
119 |
99 |
| Support |
110 |
125 |
|
229 |
224 |
|
Freehold |
Freehold |
|
|
|
|
|
Land& |
improve- |
Under |
Plant& |
Computer |
|
|
Buildings |
ments |
construction |
Equipment |
Equipment |
Total |
|
£ |
|
£ |
£ |
£ |
£ |
| Cost |
|
|
|
|
|
|
| At1 September 2021 |
12,942,840 |
1,640,615 |
332,925 |
3,462,206 |
3,180,220 |
21,558,806 |
| Additions |
986,170 |
485,386 |
1,428,719 |
227,724 |
306,293 |
3,434,292 |
| Disposals |
(243,487) |
|
(46,886) |
(216,304) |
(2,413, 160) |
(2,919,837) |
| At31August 2022 |
13,685,523 |
2,126,001 |
1,714,758 |
3,473,626 |
1,073,353 |
22,073,261 |
| Depreciation |
|
|
|
|
|
|
| At1 September 2021 |
1,329,876 |
146,793 |
|
2,418,074 |
2,714,416 |
6,609,159 |
| Charge for the year |
181,608 |
137,272 |
|
174,271 |
210,315 |
703,466 |
| Disposals |
(150,165) |
|
|
(210,273) |
(2,383,400) |
(2,743,838) |
| At31August 2022 |
1,361,319 |
284,065 |
|
2,382,072 |
541,331 |
4,568,787 |
| Net book value at31 |
|
|
|
|
|
|
| August 2022 |
12,324,204 |
1,841,936 |
1,714,758 |
1,091,554 |
532,022 |
17,504,474 |
| Net book value at |
|
|
|
|
|
|
| 31August 2021 |
12,052,149 |
|
462,446 |
1,969,248 |
465,804 |
14,949,647 |
|
Freehold |
Freehold |
|
|
|
|
|
Land& |
improve- |
Under |
Plant& |
Computer |
|
|
Buildings |
ments |
construction |
Equipment |
Equipment |
Total |
|
£ |
|
£ |
£ |
£ |
£ |
| Cost |
|
|
|
|
|
|
| At1 September 2021 |
10,130,815 |
1,640,615 |
332,925 |
3,295,747 |
3,180,220 |
18,580,322 |
| Additions |
3,597,611 |
485,386 |
1,428,719 |
227,724 |
306,295 |
6,045,735 |
| Disposals |
(117,156) |
|
(46,886) |
(91,307) |
(2,413,163) |
(2,668,512) |
| At31August 2022 |
13,611,270 |
2,126,001 |
1,714,758 |
3,432,164 |
1,073,352 |
21,957,545 |
| Depreciation |
|
|
|
|
|
|
| At1 September 2021 |
1,191,912 |
146,793 |
|
2,273,252 |
2,714,416 |
6,326,373 |
| Charge for the year |
150,027 |
137,272 |
|
163,905 |
210,315 |
661,519 |
| Disposals |
(23,935) |
|
|
(85,276) |
(2,383,400) |
(2,492,611) |
| At31August 2022 |
1,318,004 |
284,065 |
|
2,351,881 |
541,331 |
4,495,281 |
Net book value at31
August 2022 |
12,293,266 |
1,841,936 |
1,714,758 |
1,080,283 |
532,021 |
17,462,264 |
Netbook valueat
31August2021 |
9,378,088 |
|
462,446 |
1,947,611 |
465,804 |
12,253,949 |
| SECURITIES INVESTMENTS |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Group investments |
|
|
| At1 September |
264,859 |
218,837 |
| Unrealised (losses)/gains on investments |
(5,018) |
46,022 |
| Group investments at31August 2022 |
259,841 |
264,859 |
| Investmentinsubsidiaries |
3 |
3 |
| Company investments at31August 2022 |
259,844 |
264,862 |
| Investments comprise: |
2022 |
2021 |
|
£ |
£ |
| Listed investments |
|
|
| Equities |
223,987 |
240,132 |
| Unlisted investments |
|
|
| Land and buildings |
12,021 |
10,345 |
| Cash |
23,833 |
14,382 |
Group investments at31August
2022 |
259,841 |
264,859 |
| Investmentinsubsidiaries |
3 |
3 |
Company investments at31August
2022 |
259,844 |
264,862 |
| Holdings at the year-end comprising more than 5% |
ofthe total are: |
|
|
2022 |
2021 |
|
£ |
£ |
| COIF Charities Investment Fund |
258,493 |
263,511 |
| DEBTORS |
|
|
|
|
|
|
|
Group |
|
Company |
|
|
2022 |
|
2021 |
2022 |
2021 |
|
£ |
|
£ |
£ |
£ |
| School fees receivable |
12,998 |
|
318,351 |
12,998 |
318,351 |
| Tradedebtors |
164,556 |
|
42,231 |
|
26,839 |
| Otherdebtors |
53,285 |
|
16,969 |
15,603 |
16,725 |
| Prepayments and accruedincome |
242,030 |
|
516,960 |
240,756 |
436,773 |
| Amountsduenetfrom subsidiary |
|
|
|
303,009 |
3,099,669 |
| companies |
|
|
|
|
|
|
472,869 |
|
894,511 |
572,366 |
3,898,357 |
|
|
Group |
Company |
Company |
|
2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Bank loans and overdrafts (note 18) |
3,006,058 |
2,540,000 |
3,006,058 |
2,540,000 |
| Tradecreditors |
535,379 |
542,453 |
508,159 |
485,392 |
| Taxation and social security |
161,183 |
152,615 |
161,183 |
143,819 |
| Othercreditors |
163,597 |
300,475 |
162,397 |
281,082 |
| Corporationtaxcreditor |
1,000 |
1,000 |
|
|
| Accruals |
105,322 |
771,254 |
105,322 |
649,755 |
| Deferred income: |
|
|
|
|
| Fees inAdvanceScheme(note 19) |
1,291,939 |
1,100,928 |
1,291,939 |
1,100,928 |
| Fees in advanceofthe term |
1,303,580 |
1,130,003 |
1,303,580 |
1,130,003 |
| Deposits from parents |
540,212 |
491,169 |
540,212 |
491,169 |
|
7,108,270 |
7,029,897 |
7,078,850 |
6,822,148 |
REDITORS: amounts falling due after one year
{Group and Company) |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Bankloans and overdrafts (note18) |
2,358,953 |
2,000,000 |
| Otherloans |
300,000 |
|
| FeesinAdvanceScheme{note19) |
1,509,279 |
1,393,417 |
| Finance leases |
90,422 |
|
|
4,258,654 |
3,393,417 |
| BANK LOANS (Group and Company) |
|
|
|
2022 |
2021 |
|
£ |
£ |
| The bank loans are repayableininstalments as follows: |
|
|
| Due within 2 to 5 years |
2,401,402 |
1,799,996 |
| Due within 1 to 2 years |
257,551 |
200,004 |
| Amounts falling due after one year |
2,658,953 |
2,000,000 |
| Amounts falling due within one year |
3,006,058 |
2,540,000 |
|
5,665,011 |
4,540,000 |
| Group and Company |
2022 |
2021 |
|
£ |
£ |
| After 5 years |
81,145 |
145,741 |
| Within 2 to 5 years |
797,255 |
638,550 |
| Within 1 to 2 years |
630,879 |
609,126 |
| Amounts falling due after one year |
1,509,279 |
1,393,417 |
| Amounts falling due within one year |
1,291,939 |
1,100,928 |
|
2,801,218 |
2,494,345 |
| Summaryofmovementinliability (Group and Company) |
Summaryofmovementinliability (Group and Company) |
|
|
2022 |
2021 |
|
£ |
£ |
| Balance at 1 September 2021 |
2,494,345 |
2,268,955 |
| Newcontracts for Fees in Advance |
1,406,133 |
1,340,161 |
| RepaymentsofFeesinAdvance |
(20,934) |
(48,748) |
| Amounts used to pay the School's fees |
(1,078,326) |
(1,066,023) |
| Balance at31August 2022 |
2,801,218 |
2,494,345 |
|
2022 |
2021 |
|
£ |
£ |
| Within 1 year |
125,577 |
69,103 |
| Within 2 to 5 years |
142,929 |
97,586 |
|
268,506 |
166,689 |
| 21.SHARE CAPITAL |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Authorised |
|
|
| 100 Ordinary Sharesof£1each |
100 |
100 |
| Allotted, calledupand fully paid |
|
|
| 100 Ordinary Sharesof£1each |
100 |
100 |
|
|
|
|
Total |
Total |
| Group |
Unrestricted |
Restricted |
Endowed |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
£ |
| Tangible fixed assets |
17,504,474 |
|
|
17,504,474 |
14,949,647 |
| Securities investments |
4,877 |
|
254,964 |
259,841 |
264,859 |
Netcurrent
(liabilities )/assets |
(5,480,225) |
458,710 |
|
(5,021,515) |
(3,632,054) |
| Long term liabilities |
(4,258,654) |
|
|
(4,258,654) |
(3,393,417) |
|
7,770,472 |
458,710 |
254,964 |
8,484,146 |
8,189,035 |
|
|
|
|
Total |
Total |
| Company |
Unrestricted |
Restricted |
Endowed |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
£ |
| Tangible fixed assets |
17,462,264 |
|
|
17,462,264 |
12,253,949 |
| Securities investments |
4,880 |
|
254,964 |
259,844 |
264,862 |
Net current
(liabilities )/assets |
(5,361,218) |
458,710 |
|
{4,902,508) |
(440,613) |
| Long term liabilities |
(4,258,654) |
|
|
(4,258,654) |
(3,393,417) |
|
7,847,272 |
458,710 |
254,964 |
8,560,946 |
8,684,781 |
|
At 1 Sept |
|
|
|
Gains/ |
At31Aug |
|
2021 |
Income |
Expenditure |
Transfer |
(losses) |
2022 |
|
£ |
|
|
|
£ |
£ |
| Endowed |
|
|
|
|
|
|
| Egerton Society |
239,964 |
5,000 |
|
|
|
244,964 |
| Expendable Endowment |
|
10,000 |
|
|
|
10,000 |
| Total Endowment |
239,964 |
15,000 |
|
|
|
254,964 |
| Restricted Funds |
|
|
|
|
|
|
| Nigel Halfpenny Fund |
44,951 |
|
|
(3,225) |
|
41,726 |
| Arthur Disney Fund |
114,009 |
|
{30,896) |
{14,009) |
|
69,104 |
| Southern Woodard |
306,563 |
|
|
(37,670) |
|
268,893 |
| Erasmus Grant |
30,075 |
|
{15,542) |
(3,696) |
|
10,837 |
| Rugby Scoreboard |
1,311 |
|
(1,475) |
164 |
|
|
| Pavilion |
3,420 |
|
(10,562) |
7,142 |
|
|
| Coronavirus Hardship |
57,735 |
29,221 |
(94,792) |
51,294 |
|
43,458 |
| Pittaway Music Fund |
|
25,000 |
(308) |
|
|
24,692 |
|
558,064 |
54,221 |
(153,575) |
|
|
458,710 |
| General reserves |
7,391,007 |
13,661,752 |
(13,277,269) |
|
(5,018) |
7,770,472 |
| Total Funds |
8,189,035 |
13,730,973 |
(13,430,844) |
|
(5,018) |
8,484,146 |
| 24.SUMMARY OF MOVEMENTS ON |
|
FUNDS (Company) |
|
|
|
|
|
At1 Sept |
|
|
|
Gains/ |
At31Aug |
|
2021 |
Income |
Expenditure |
Transfer |
(losses) |
2022 |
|
£ |
|
|
|
£ |
£ |
| Endowed |
|
|
|
|
|
|
| Egerton Society |
239,964 |
5,000 |
|
|
|
244,964 |
| Expendable Endowment |
|
10,000 |
|
|
|
10,000 |
| Total Endowment |
239,964 |
15,000 |
|
|
|
254,964 |
| Restricted Funds |
|
|
|
|
|
|
| Nigel Halfpenny Fund |
44,951 |
|
|
(3,225) |
|
41,726 |
| Arthur Disney Fund |
114,009 |
|
(30,896) |
(14,009) |
|
69,104 |
| Southern Woodard |
306,563 |
|
|
(37,670) |
|
268,893 |
| Erasmus Grant |
30,075 |
|
(15,542) |
{3,696) |
|
10,837 |
| Rugby Scoreboard |
1,311 |
|
(1,475) |
164 |
|
|
| Pavilion Clocktower |
3,420 |
|
(10,562) |
7,142 |
|
|
| Coronavirus Hardship |
57,735 |
29,221 |
(94,792) |
51,294 |
|
43,458 |
| Pittaway Music Fund |
|
25,000 |
(308) |
|
|
24,692 |
|
558,064 |
54,221 |
{153,575) |
|
|
458,710 |
| General reserves |
7,886,753 |
13,418,586 |
(13,453,049) |
|
(5,018) |
7,847,272 |
| Total Funds |
8,684,781 |
13,487,807 |
(13,606,624) |
|
(5,018) |
8,560,946 |
| CAPITAL COMMITMENTS |
|
|
| At31August 2022, the Group had capital commitments as follows: |
2022 |
2021 |
|
£ |
£ |
| Expenditure contracted for but not providedinthe accounts |
970,476 |
102,539 |
| NET DEBT RECONCILIATION |
|
|
£ |
| Balance as at 1 September |
4,540,000 |
| Repaymentofbank loan |
(84,988) |
| Newborrowings taken |
1,210,000 |
| Balanceasat31August 2022 |
5,665,012 |
| RECONCILIATION OF NET CASH PROVIDED BY OPERATIONS |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Net income/{expenditure) for the period (as per the Statement |
295,111 |
(507,686) |
| of Financial Activities) |
|
|
| Adjustments for |
|
|
| Depreciation charges |
703,466 |
666,658 |
| Losses on disposalofassets |
173,999 |
|
| Losses/(gains) on investments |
5,018 |
(46,022) |
| Dividends, interest and rents from investments |
{1,672) |
|
| Financing costs |
183,789 |
69,090 |
| Decrease/(increase)_in_debtors |
421,642 |
(386,616) |
| (Decrease )/increaseincreditors |
{310,612) |
655,610 |
| Net cash provided by operating activities |
1,470,741 |
451,034 |
| ANALYSISOFCASH AND CASH EQUIVALENTS |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Cashinhand and at bank |
1,613,886 |
2,503,332 |
| Total cash and cash equivalents |
1,613,886 |
2,503,332 |
| Yearended31August 2021 |
|
|
|
|
|
Unrestricted |
Restricted |
Endowed |
Total |
|
Funds |
Funds |
Funds |
2021 |
|
£ |
£ |
£ |
£ |
| Income and endowments |
|
|
|
|
| from: |
|
|
|
|
| Charitable Activities |
|
|
|
|
| School fees receivable |
10,197,872 |
|
|
10,197,872 |
| Ancillary trading income |
663,808 |
|
|
663,808 |
| Job Retention Scheme Grant |
248,209 |
|
|
248,209 |
| Other trading activities |
|
|
|
|
| Non-ancillary trading income |
190,590 |
|
|
190,590 |
| Investments |
|
|
|
|
| Bank and other interest |
153 |
|
|
153 |
| Other- Grants and |
|
|
|
|
| donations |
|
|
|
|
| Grants and donations |
30,661 |
68,574 |
6,001 |
105,236 |
| TOTAL INCOME |
11,331,293 |
68,574 |
6,001 |
11,405,868 |
| Expenditure on: |
|
|
|
|
| Raising funds |
|
|
|
|
| Non-ancillary trading |
759,843 |
|
|
759,843 |
| Financing costs |
331,866 |
|
|
331,866 |
| Charitable Activities |
|
|
|
|
| Education and grant making |
10,867,867 |
|
|
10,867,867 |
| TOTAL EXPENDITURE |
11,959,576 |
|
|
11,959,576 |
Net gainsoninvestment
assets |
46,022 |
|
|
46,022 |
| Net income/(expenditure) |
(582,261) |
68,574 |
6,001 |
(507,686) |
| Transfer between funds |
|
|
|
|
Net Movementinfunds for
the year |
(582,261) |
68,574 |
6,001 |
(507,686) |
| Fund balances at 1 September |
7,973,268 |
489,490 |
233,963 |
8,696,721 |
| Fund balances at31August |
7,391,007 |
558,064 |
239,964 |
8,189,035 |