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##
|||||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|||
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||||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|
##
##
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|||||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|||||
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##
|||||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|
##
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##
##
##
||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)|
##
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##
##
##
##
|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|
##
##
##