2020-08-31-accounts

				Page
Reference and administrative		details ofthe School, its Governors	and advisers
Governors' report				3-14
Independent auditors'	report	on the financial statements		15 - 17
Statement offinancial	activities
Balance sheet				19
Statement ofcash flows				20
Notes to the financial	statements			21-43

Governors			Mr PTWilcox-Jones,		Chairman'
			MrTMoore-Bridger,	Vice Chairman1
			Mr E Bowen
			Mr C Dillon (appointed		8 December 2020)1
			MrJ R Edwards)
			Mr D P Evisonl
			Reverand H LGibbons
			Miss BY Gull
			MrJHancock (resigned 4 December 2020)
			Mr H Jones (resigned		1 December 2020)
			Mrs AJ Lee1
			Mr AJ Moss (resigned		23 June 2020)
			Mr C Schofield
			Mrs RWarner
			MrJWastling
			Mr BWelti1
			" Member ofthe Finance and General Purpose Committee
Company	registered
number			03931222
Charity registered
number			1079822
Registered		office	Upper Brook Street
			Oswestry
			Shropshire
			SY112TL
Company secretary			Mr P A Bowd
Independent		auditors	WR Partners
			Statutory Auditors
			Belmont House
			Shrewsbury Business		Park
			Shrewsb ury
			Shropshire
			SY26LG
Bankers			NatWest Bank Plc
			17Church Street
			0swestry
			Shropshire
			SY112SX

			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	fUrids
		Note	2020	2020f	2020	2020 F	2019
Income from:
Donations and legacies				112,911		112,911	70,289
Charitable activities			5,863,861			5,863,861	5,992,358
Other trading activities			78,306			78,306	221,750
Investments			2,591			2,591	1,420
Total income and
endowments			5,944,?58	112,911		6,057,669	6,285,817
Expenditure on:
Raising funds			180,667			180,667	393,939
Charitable activities		9	5,900,251	85,801		5,986,052	5,875,721
Total expenditure			6,080,918	85,801		6,166,719	6,269,660
Net (losses)/gains	on
investments			(784)		593	(191)	3,591
Net
(expenditure)/income			(136,944)	27,110	593	(109,241)	19,748
Transfers between
funds			83,95'I	(83,951)
Net movement in funds			(52,993)	(56,841)	593	(109,241)	/9, ?48
Reconciliation of
funds:
Total funds brought
forward			3,717,338	296,043	761,738	4,775,119	4,?55,371
Net movement in funds			(52,993)	{56,841)	593	(109,241)	19,748
Total funds carried forward			3,664,345	239,202	762,331	4,665,878	4,775,119

				2020		2019
		Note		F
Fixed assets
Tangible assets				8,008,353		8,744,869
Investments				81,463		81,654
				8,089,816		8,826,523
Current assets
Stocks		15	63,813		66,149
Debtors		16	172,108		237,460
Cash at bank and	in hand		364,904		265,388
			600,825		568,997
Creditors: amounts	falling due within one
year		17	(2,300,910)		(2,927,373)
Net current liabilities				{1,700,085)		(2,358,376)
Total assets less	current liabilities			6,389„731		6,468,147
Creditors: amounts	falling due after more
than one year				{1,723,853)		(I,693,028)
Total net assets				4,665,878		4,775,119
Charity funds
Endowment funds		19		762,331		761,738
Restricted funds		19		239,202		296,043
Unrestricted funds		19		3,664,345		3,717,338
Total funds				4,665,&78		4,775,119

		STATEMENT OF CASH FLOWS	STATEMENT OF CASH FLOWS
	FOR THE YEAR ENDED 31AUGVST			2020
					2020	2019
				Note
Cash flows from operating	activities
Net cash used in operating	activities				35,026	390,166
Cash flows from investing	activities
Purchase oftangible fixed assets					(104,263)	(101,319)
Net cash used in investing	activities				(104,263)	(101,319)
Cash flows from financing	activities
Repayments ofborrowing					(109,187)	(109,187)
New finance leases					155,971	94,904
Repayments offinance leases					(?0,115)	(102,056)
Net cash used in financing	activities				(23,331)	(116,339)
Change in cash and cash	equivalents	in the year			(92,568)	172,508
Cash and cash equivalents	at the beginning		ofthe year		(7,151)	(179,659)
Cash and cash equivalents	at the end ofthe year				(99,719)	(7,15I)
The notes on pages 21 to 43form part		ofthese financial statements

				Unrestricted	Total	Total
				funds	funds	funds
				2020	2020	2019f
	School Fees			5,308,026	5,30&,026	5,504,574
	Registration	Income		34,097	34,097	31,350
	Shop Income			75,843	75,843	l43,531
	Other School Income			124,431	124,431	312,903
	Covid Support Income			321,464	321,464
	Total 2020			5,863,861	5,863,861	5,992,358
	Total 2019			5,992,358	5,992,358
6.	Charitable activities		- school fees
					2020 E	2019f
	Gross school	fees			8,078,878	7,845,679
	Scholarship,	bursaries	and remissions		(2„374,378)	(2,341,/05)
	COVID-19 discount				(396,474)
	Total				5,308,026	5,504,574

			Unrestricted	Total	Total
			funds	funds	funds
			2020	2020	20/9
			E		E
	Lettings/Mire	ofSchool	70,917	70,917	204,673
	Recital Series Income		7,389	7,389	17,137
			78,306	78,306	221,750
	Total 2019		221,750	221,750
8.	Investment	income

	Unrestricted	Total	Total
	funds	funds	funds
	2020	202Q	2079
	F
Listed Investments Cash Investments	1,220 1,371	1,220 1,371	1,269 151
	2,591	2,591	1,420
Total 2019	/,420	1,420

	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	2020	2020	2020	2019
	F	F
Teaching	2,600,278	64,545	2,664,823	2,695,920
Welfare	512,762		512,762	742,9l0
Premises	1,722,819	21,256	1,744,075	1,345,163
Support costs and governance	1,064,392		1,064,392	1,091,728
	5,900,251	85,801	5,986,052	5,875,721
Total 2019	5,854,947	20,774	5,875,721

				Total	Total
	Staff costs	Depreciation	Other costs	funds	funds
	2020	2020	2020	2020	2019
	E			E.	E
Teaching	2,547,871		116,952	2,664,823	2,695,920
Welfare	134,679		378,083	512,762	742,910
Premises	436,580	840,779	466,716	1,744,075	/,345,162
Support costs and governance	405,991		658,401	1,064,392	1,091,729
	3,525,121	840,779	1,620,152	5,986,052	5,875,721
Total 2019	3,588,258	353,742	1,933,72 /	5,875, 721

					2020	2019
					E
Depreciation		oftangible	fixed assets	—held under finance lease	85,179	80,658
Depreciation		oftangible	fixed assets	-owned by the charity	755,600	273,084
Auditors'	remuneration		—audit and accounts preparation		11,500	l1,500
					852279	365242

	2020	2019
Wages and salaries	2,987,330	2,968,441
Social security costs	237,641	264,835
Other pension costs	310,540	365,554
	3,535,511	3,598,830

	2020	2019
	No.	Mo.
Academic	77	81
Administrative	18	16
Estates	36	34
Welfare	8	7
	139	138

	2020	2019
	No.	Mo.
Academic	6&	69
Support	16	15
Estates	26	25
Welfare	6	?
		116

	Freehold	Motor	Fixtures and
	property	vehicles	fittings	Total
		F
Cost orvaluation
At 1 September 2019	8,558,274	245,814	3,325,536	12,129,624
Additions			104,263	104,263
At 31August 2020	8,558,274	245,814	3,429,799	12,233,887
Depreciation
At 1 September 2019	1,499,943	119,128	1,765,684	3,384,755
Charge for the year	119,628	21,845	699,306	840,779
At 31August 2020	1,619,571	140,973	2,464,990	4,225,534
Net book value
At 31 August 2020	6,938,703	104,841	964,809	8,008,353
At31August 2019	7,058,331	126,686	1,559,852	8,744,869

		2020f	2019 E
Motor Vehicles		56,711	65,378
Furniture,	fittings and equipment	220,474	437,185
		277,185	502,563

			Listed
			investments
			E
	Cost or valuation
	At 1 September 2019		81,654
	Revaluations		{191)
	At 31August 2020		81,463
	Net book value
	At 31August 2020		81,463
	At 31August 20/9		81,654
15.	Stocks
		2020	2019
			E
	School shop items	63,813	66,$49

			As restated
		2020	2019
Due within one year
Fee debtors		36,862	40,295
Trade debtors		15,903	105,465
Prepayments	and accrued income	119,343	91,700
		172,108	237,460

					As restated
				2020	2019
					E
Bank overdrafts				464,623	272,539
Bank loans				109,187	163,343
Deposits held				274,677	262,249
Trade creditors				83,809	153,647
Fees in advance				705,472	1,116,434
Composite fees				234,088	344,086
Other taxation	and social security			52,191	104,164
Obligations under finance lease and hire purchase			contracts	66,490	73,297
Other creditors				213,423	277,853
Accruals and deferred		income		96,950	159,761
				2,300,910	2927373

2020	20/9
E
65,546

			2020
			E
Bank loans			1,549,166	1,604,197
Net obligations	under finance lease and hire purchase contracts		174,687	88,831
			1,723,853	1,693028
Bank Loans
Included within	the above are amounts	falling due as follows:
			2020f	2019
Between one and two years
Bank loans			91,059	148,181
Between two and five years
Bank loans			376,310	376,310
Over five years
Bank loans			1,081,797	1,079,706

					2020	2019
Payable	or	repayable	by	instalments	1 081 797	1079706
					1,081,797	1,079,706

Obligations under finance leases and hire purchase co	ntracts, included above, are payable as	follows:
	2020	2019
	E.	E
Between one and two years	66,490	73,297
Between two and five years	59,138	31,719
Over five years	115,549	57,111
	241,17T	162,127

	Balance at 1					Balance at
Unrestricted	September 2019 F	income	Expenditure	Transfers infout	Gains/ {Losses) F	31August 2020 f
funds
General Funds	1,069,226	5,944,758	{6,080,918)	83,951	(784)	1,016,233
Revaluation
reserve	2,648,112					2,648,112
	3,717,338	5,944,758	(6,080,918)	83,951	(784)	3,664,345
Endowment
funds
School Charity
Fund	34,551				{1,074)	33,477
Mrs gwynne
Corrie Memorial
Fund	8,033					8,069
Exhibihon 8
Scholarship
Fund	37,361				1,631	38,992
Endowed Land	681,793					681,793
	76'f,738				593	762,331

		Balance at 1 September 2019	Income	Expenditure	Transfers m/out	Gains( (Losses)	Balance at 31August 2020
			F	F			E
Restricted
funds
David Holbache
Appeal Fund		162,616	16,693	{11,086)			168,223
Refurbishment
Fund		133,427	40,000	{21,256}	(83,951)		68,220
COVID-
Hardship Fund			51,454	(48,695)			2,759
Old Oswestrian
Society			4,764	(4,764)
		296,043	112,911	{85,801)	(83,951)		239,202
Total offunds		4,775,119	6,057,669	(6,166,719}		{191)	4,665,878
Endowment	Funds

			Balance at					Balance at
Unrestricted funds			1September 2018	Income f	Expenditure	f	Gains/ (Losses) f	31August 2019 f
General Funds			1,102,909	6,215,528	(6,248,886)		(325)	I,069,226
Revaluation reserve			2,648,112					2,648,112
			3,751,021	6,215,528	{6,248,886)		(325)	3,717,338
Endowment funds
School Charity	Fund		32,808				1.743	34,55I
Mrs gwynne Corrie Memorial
Fund			7;981				52	8,033
Exhibition 8 Scholarship		Fund	35,240				2,121	37,361
Endowed Land			681,793					681,793
			757,822				3,916	761,738
Restricted funds
David Holbache	Appeal	Fund	122,019	40,597				162,616
Refurbishment	Fund		124,509	29,692	(20,774)			133,427
			246,528	70,289	{20,774)			296,043
Total offunds			4,755,371	6,285,817	(6,269,660)		3,591	4,775,119

Analysis ofnet assets between funds - c	urrent period
	Unrestricted	Restricted	Endowment	Total
	funds	funds	funds	funds
	2020	2020	2020	2020
	Z	F		F
Tangible fixed assets	7,085,410	241,150	681,793	8,008,353
Fixed asset investments	925		80,538	81,463
Current assets	429,843	170,982		600,825
Creditors due within one year	(2,127,980)	(172,930)		(2,300,910)
Creditors due in more than one year	(1,723,853)			(1,723,853)
Total	3,664,345	239,202	762,331	4,665,878
Analysis ofnet assets between funds - prior period
	Unrestricted	Restncted	Endowment	Total
	funds	funds	Funds	funds
	2019	2019	20/9	2019
Tangible fixed assets	7,626,675	436,401	681,793	8,744,869
Fixed asset investments	1,709		79,945	8'l,654
Current assets	496,425	72,572		568,997
Creditors due within one year	(2,?14,444)	(212,930)		(2,927,374)
Creditors due in more than one year	(1,693,027)			(1,693,027)
Total	3,717,338	296,043	761,738	4,775,119

21.	Reconciliation ofnet movement	Reconciliation ofnet movement	Reconciliation ofnet movement	in funds to net	in funds to net	cash flow	from operating	from operating	activities
									2020	2019
									F
	Net income/expenditure		for the	period	(as per	Statement	of Financial
	Activities)								(109,241)	19,748
	Adjustments for:
	Depreciation charges								840,779	353,742
	Gains on investments Decrease in stocks								191 2,336	(3,591) 9,315
	Decrease/{increase)	in debtors							65,352	(242,?20)
	Increase/(decrease)	in creditors							(764,391)	253,672
	Net cash provided by operating			activities					35,026	390,166
22.	Analysis ofcash and cash equivalents
									2020	2019
	Cash in hand								364,904	265,388
	Overdraft facility repayable		on demand						(464,623)	(272,539)
	Total cash and cash	equivalents							(99,719)	(7,151)
23.	Analysis ofchanges	in net debt
							At 1
							September			At 31
							2019	Cash flows August 2020
	Cash at bank and in hand Bank overdrafts repayable Debt due within 1 year Debt due after 1 year Finance leases		on demand				F 265,388 (272,539) (1,279,777} {1,604,197) {162,127)		99,516 (192,084) 465,'118 55,031 (79,050)	364,904 (464,623) (814,659) (1,549,166) (241,177}
							(3,053,252}		348,531	(2,704,721)

cancellable	operating leases as follows:	payments	under non-
		2020	2019
		e
Not later than 1 year		50,598	54,685
Later than	1 year and not later than 5years	87,587	43,363
		138,185	98,048