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|||||Page|
|---|---|---|---|---|
|Reference and administrative||details ofthe School, its Governors|and advisers|1-2|
|Chairman's
statement|||||
|Governors'
report||||4-15|
|Independent
auditors'|report|on the financial statements||16-19|
|Statement offinancial|activities|||20|
|Balance sheet||||21|
|Statement ofcash flows||||22|
|Notes to the financial|statements|||23-44|
##
|Governors|||||||
|---|---|---|---|---|---|---|
||||Mr PTWilcox-Jones,|Chairman&|||
||||Mr T Moore-Bridger,|Vice Chairman&|||
||||Mr E Bowen||||
||||Mr C Dillon (appointed|8 December 2020)i|||
||||MrJ R Edwards (resigned|||8 November 2020)i|
||||Mr DSEvans (appointed|||23 March 2021)|
||||Mr D P Evisoni||||
||||Reverand
H L Gibbons||||
||||Miss BYGull||||
||||MrJ Hancock (resigned||4December 2020)||
||||Mr H Jones (resigned|1|December 2020)||
||||Mrs AJ Lee1||||
||||Mr J D Lloyd (appointed||23March 2021)||
||||Mr C Schofield (resigned|||6 May 2021)|
||||Mrs RWarner||||
||||Mr J Wastling||||
||||Mr BWeltii||||
||||' 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|||
||||Shrewsbury||||
||||Shropshire||||
||||SY26LG||||
|Bankers|||NatWest Bank Pic||||
||||17Church Street||||
||||Oswestry||||
||||Shropshire||||
||||SY112SX||||
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||||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|funds|funds|
||||||2021|2021|2021|2021|2020|
|||||Note|E|6|E|6||
|Income from:||||||||||
|Donations
and||legacies|||5,575|63,634||69,209|112,911|
|Charitable
activities|||||5,379,614|||5,379,614|5,863,861|
|Other trading|activities||||182,079|||182,079|78,306|
|Investments|||||3,413||1,206|4,619|2,591|
|Other income|||||329,507|||329,507||
|Total income||and||||||||
|endowments|||||5,900,188|63,634|1,206|5,965,028|6,057,669|
|Expenditure|on:|||||||||
|Raising funds||||10|186,960|||186,960|f70,277|
|Charitable
activities||||11|5,383,881|50,883||5,434,764|5,996,442|
|Total expenditure|||||5,570,841|50,883||5,621,724|6,166,719|
|Net||||||||||
|income/(expenditure)||||||||||
|before net||||||||||
|gains/(losses)||on||||||||
|investments|||||329,347|12,751|1,206|343,304|(109,050)|
|Net gains/(losses)|||on|||||||
|investments|||||585||10,465|11,050|(191)|
|Net||||||||||
|income/(expenditure)|||||329,932|12,751|11,671|354,354|(109,241)|
|Transfers
between||||||||||
|funds||||21|(61,219)|61,219||||
|Net movement||in||||||||
|funds|||||268,713|73,970|11,671|354,354|(109,241)|
|Reconciliation||of||||||||
|funds:||||||||||
|Total funds brought||||||||||
|forward|||||3,664,345|239,202|762,331|4,665,878|4,775,119|
|Net movement||in funds|||268,713|73,970|11,671|354,354|(109,241)|
|Total funds carried||||||||||
|forward|||||3,933,058|313,172|774,002|5,020,232|4,665,878|
##
##
##
|||Note||2021f||2020|
|---|---|---|---|---|---|---|
|Fixed assets|||||||
|Tangible assets||15||7,843,256||8,008,353|
|Investments||16||92,513||81,463|
|||||7,935,769||8,089,818|
|Current assets|||||||
|Stocks||17|56,338||63,813||
|Debtors||18|93,766||172,108||
|Cash at bank and|in hand||1,117,104||364,904||
||||1,267,208||600,825||
|Creditors: amounts|falling due within one||||||
|year||19|(2,553,417)||(2,300,910)||
|Net current liabilities||||(1,286,209)||(1,700,085)|
|Total assets less|current liabilities|||6,649,560||8,389,731|
|Creditors: amounts|falling due after more||||||
|than one year||20||(1,629,328)||(f,723,853)|
|Total net assets||||5,020,232||4,665,878|
|Charity funds|||||||
|Endowment
funds||21||774,002||762,331|
|Restricted funds||21||313,172||239,202|
|Unrestricted
funds||21||3,933,058||3,864,345|
|Total funds||||5,020,232||4,665,878|
##
##
##
||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
|||||||Note|E||
|Cash flows from operating||activities|||||||
|Net cash used
in operating|activities|||||23|1,140,359|35,025|
|Cash flows from investing||activities|||||||
|Purchase oftangible fixed assets|||||||(87,071)|(104,263)|
|Net cash used in investing||activities|||||(87,071)|(104,263)|
|Cash flows from financing||activities|||||||
|Cash inflowe from new borrowing|||||||300,000||
|Repayments
of borrowing|||||||(64,203)|(109,187)|
|New finance leases||||||||155,971|
|Repayments
offinance leases|||||||(72,262)|(70,115)|
|Net cash provided
by/(used||in) financing||activities|||163,535|(23,331)|
|Change
in cash and cash|equivalents||in|the year|||1,216,823|(92,568)|
|Cash and cash equivalents|at the beginning|||ofthe year|||(99,719)|(7,151)|
|Cash and cash equivalents||at the end|of|the year||24|1,117,104|(99,719)|
|The notes on pages 23 to 44||form part ofthese financial|||statements||||
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##
|Freehold
property|- 50years|
|---|---|
|Long-term
fixtures and fittings|- 20years|
|Fixtures and fittings|- 10years|
|Motor vehicles|- 10years|
|Kitchen equipment|- 5years|
|Computer
equipment|- 5years|
##
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##
||||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|
||||||2021|2021|2020|
||||||6|||
||School Fees||||4,765,750|4,765,750|5,308,026|
||Registration||Income||47,985|47,985|34,007|
||Shop Income||||92,569|92,569|75,843|
||Other School||Income||161,726|161,726|124,431|
||Covid Support Income||||311,584|311,584|321,464|
||Total 2021||||5,379,614|5,379,614|5,863,861|
||Total 2020||||5,863,861|5,863,861||
|6.|Charitable|activities - school fees||||||
|||||||2021|2020|
||Gross school||fees|||7,081,611|8,078,878|
||Scholarship,||bursaries|and remissions||(2,075,944)|(2,374,378)|
||COVID-19|discount||||(239,917)|(306,474)|
||Total|||||4,765,750|5,308,026|
##
##
##
##
##
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|2020|
|||5|6||
|Lettings/Hire|ofSchool|182,142|182,142|70,917|
|Recital Series Income||(63)|(63)|7,389|
|||182,079|182,079|78,306|
|Total 2020||78,306|78,306||
##
|||Unrestricted|Endowment|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2021
5|2021
6|2021
6|2020f|
|Listed|Investments|19|1,206|1,225|1,220|
|Cash|Investments|3,394||3,394|1,371|
|||3,413|1,206|4,619|2,591|
|Total|2020|2,591||2,591||
##
##
|Unrestricted|Total|Total|
|---|---|---|
|funds|funds|funds|
|2021
E|2021
6|2020f|
|329,507|329,507||
##
##
##
##
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021
8|2021
8|2020f|
|Finance costs||76,093|76,093|87,38t|
|Fundraising|costs|110,867|110,867|82,916|
|||186,960|186,960|170,277|
|Total 2020||170,277|170,277||
##
##
||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|
||funds|funds|funds|funds|
||2021|2021|2021|2020|
||8|8|8||
|Teaching|2,545,846|29,627|2,575,473|2,664,823|
|Welfare|618,604||618,804|512,762|
|Premises|1,187,433|21,256|1,208,689|1,744,075|
|Support costs and governance|1,031,998||1,031,998|1,074,782|
||5,383,881|50,883|5,434,764|5,996,442|
|Total 2020|5,910,641|85,801|5,996,442||
##
##
##
##
|||||Total|Total|
|---|---|---|---|---|---|
||Staffcosts|Depreciation|Other costs|funds|funds|
||2021|2021|2021|2021|2020|
||||8|6||
|Teaching|2,483,902||91,571|2,575,473|2,664,823|
|Welfare|101,008||517,596|618,604|512,762|
|Premises|466,685|252,168|489,836|1,208,689|1,744,075|
|Support costs and governance|414,833||617,165|1,031,998|1,074,782|
||3,466,428|252,168|1,716,168|5,434,764|5,996,442|
|Total 2020|3,535,511|840,779|1,620,152|5,996,442||
##
|||||2021|2020|
|---|---|---|---|---|---|
|Depreciation|oftangible|fixed assets —held under finance lease||54,949|85,179|
|Depreciation|oftangible|fixed assets —owned|by the charity|197,219|755,600|
|Auditors'
remuneration||-audit and accounts|preparation|14,580|13,800|
|||||266,748|854,579|
##
|2021
6|2020f|
|---|---|
|2,886,035|2,987,330|
|231,915|237,641|
|348,478|310,540|
|3466428|3535511|
##
##
##
##
##
|The average number
of|persons employed
by|the School d|uring the year w|as as follows:||
|---|---|---|---|---|---|
|||||2021|2020|
|||||No.|No.|
|Academic||||81|77|
|Administrative||||17|18|
|Estates||||36|36|
|Welfare||||4|8|
|||||138|139|
|The average headcount|expressed as full-time|equivalents|was:|||
|||||2021|2020|
|||||No.|No.|
|Academic||||64|68|
|Support||||15|16|
|Estates||||26|26|
|Welfare||||3|6|
|||||108|116|
|2021|2020|
|---|---|
|No.|No.|
##
##
##
##
##
||Freehold|Motor|Fixtures and||
|---|---|---|---|---|
||property|vehicles|fittings|Total|
||6|6|6|5|
|Cost or valuation|||||
|At 1 September 2020|8,558,274|245,814|3,429,799|12,233,887|
|Additions|69,694||17,377|87,071|
|At 31 August 2021|8,627,968|245,814|3,447,176|12,320,958|
|Depreciation|||||
|At 1 September 2020|1,619,571|140,973|2,464,990|4,225,534|
|Charge for the year|119,628|20,652|111,888|252,168|
|At 31 August 2021|1,739,199|161,625|2,576,878|4,477,702|
|Net book value|||||
|At 31 August 2021|6,888,769|84,189|870,298|7,843,256|
|At 31August 2020|6,938,703|104,841|964,809|8,008,353|
|The net book value of assets|The net book value of assets|held under finance leases or hire purchase|contracts,
included|above, are|
|---|---|---|---|---|
|as follows:|||||
||||2021|2020|
||||8||
|Motor Vehicles|||31,282|56,711|
|Furniture,|fittings and equipment||174,192|220,474|
||||205,474|277,185|
#
##
##
##
||Listed|
|---|---|
||investments|
||8|
|Cost or valuation||
|At 1 September 2020|81,463|
|Revaluations|11,050|
|At 31 August 2021|92,513|
|Net book value||
|At 31August 2021|92,513|
|At31August 2020|81,463|
##
##
##
##
|2021|2020f|
|---|---|
|56,338|63,813|
##
|||2021|2020|
|---|---|---|---|
|||K||
|Due within one year||||
|Fee debtors||950|35,852|
|Other debtors||21,429|10,599|
|Prepayments|and accrued income|49,669|108,744|
|Trade debtors||21,718|15,903|
|||93,766|172,108|
##
||||2021f|2020f|
|---|---|---|---|---|
|Bank overdrafts||||464,523|
|Bank loans|||376,603|109,187|
|Deposits held|||385,057|274,677|
|Trade creditors|||124,515|83,809|
|Fees in advance|||1,105,294|705,472|
|Composite fees|||245,225|234,088|
|Other taxation and social secudty|||62,104|52,191|
|Obligations
under finance lease and hire purchase||contracts|57,134|66,490|
|Other creditors|||160,641|213,423|
|Accruals and deferred|income||36,844|96,950|
||||2,553,417|2,300,910|
##
##
##
##
##
|||||2021|2020|
|---|---|---|---|---|---|
|||||5||
|Bank loans||||1,517,547|1,549,166|
|Net obligations|under finance lease and|hire purchase|contracts|111,781|174,687|
|||||1,529,328|1,723,853|
|Bank Loans||||||
|Included
within|the above are amounts|falling due as|follows:|||
|||||2021|2020|
|||||8||
|Between one and two years||||||
|Bank loans||||82,825|91,059|
|Between two and five years||||||
|Bank loans||||248,777|248,777|
|Over five years||||||
|Bank loans||||1,185,844|f,209,330|
||||||2021|2020|
|---|---|---|---|---|---|---|
||||||E|5|
|Payable|or|repayable|by|instalments|1,483,040|1,081,797|
||||||1,483,040|f,061,797|
##
##
##
##
##
|Obligations
under finance leases and hire purchase
co|ntracts,
included
above, are payable as|follows:|
|---|---|---|
||2021|2020|
||K||
|Between one and two years|47,262|66,490|
|Between two and five years|64,618|59,138|
|Over five years||115,549|
||111,780|241,177|
##
##
##
##
|Statement|of|funds -|current year||||||
|---|---|---|---|---|---|---|---|---|
||||Balance at 1|||||Balance at|
||||September
2020
6|Income
6|Expenditure
E|Transfers
in/out
E|Gains/
(Losses)
E|31August
2021
5|
|Unrestricted||funds|||||||
|Designated|||||||||
|funds|||||||||
|School|||||||||
|Development|||||||||
|Fund|||||330,000|||330,000|
|Generalfunds|||||||||
|General Funds|||1,016,233|5,900,188|(5,570,841)|(391,219)|585|954,946|
|Revaluation|reserve||2,648,112|||||2,648,112|
||||3,664,345|5,900,188|(5,570,841)|(391,219)|585|3,603,058|
|Total Unrestricted|||||||||
|funds|||3,664,345|5,900,188|(5,570,841)|(61,219)|585|3,933,058|
|Endowment|funds||||||||
|School Charity||Fund|33,477|37|||4,431|37,945|
|Mrs Wynne Corrie|||||||||
|Memorial
Fund|||8,069|||||8,069|
|Exhibition
&|||||||||
|Scholarship|Fund||38,992|1,169|||6,034|46,195|
|Endowed
Land|||681,793|||||681,793|
||||762,331|1,206|||10,465|774,002|
##
##
##
##
##
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##
##
##
|Statement offunds|- prior year||||||
|---|---|---|---|---|---|---|
||Be/ence et|||||Balance at|
||1September
20'l9|income
f|Expenditure|Transfers
inrout|Gains
(Losses)f|31August
2020f|
|Unrestricted
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 Wynne Corrie|||||||
|Memorial
Fund|8,033||||36|8,059|
|Exhibition
&|||||||
|Scholarship
Fund|37,361||||1,631|38,992|
|Endowed
Land|681,793|||||681,793|
||761,738||||593|762,331|
|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 Osweslrian|||||||
|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|
##
##
##
##
##
|Analysis|ofnet assets between funds -|current year||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|
|||funds|funds|funds|funds|
|||2021|2021|2021|2021|
||||9|8|Z|
|Tangible|fixed assets|6,941,569|219,894|681,793|7,843,256|
|Fixed asset investments||1,510||91,003|92,513|
|Current|assets|1,172,724|93,278|1,206|1,267,208|
|Creditors|due within one year|(2,493,978)|||(2,493,978)|
|Creditors|due in more than one year|(1,688,767)|||(1,688,767)|
|Total||3,933,058|313,172|774,002|5,020,232|
|Analysis|ofnet assets between funds -|prior year||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|
|||funds|funds|funds|funds|
|||2020|2020|2020f|2020f|
|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|
##
##
##
|23.|Reconciliation
of|net movement|net movement|net movement|in|funds to|funds to|net|cash flow|from|operating|activities||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||2021f|2020|
||Net
income/expenditure
for|||the|year||(as|per|Statement|of|Financial|||
||Activities)|||||||||||354,354|(109,241)|
||Adjustments
for:|||||||||||||
||Depreciation
charges|||||||||||252,168|840,779|
||Gains/(losses)
on investments|||||||||||(11,050)|191|
||Decrease
in stocks|||||||||||7,475|2,336|
||Decrease
in debtors|||||||||||78,342|65,352|
||Increase/(decrease)||in creditors|||||||||59,248|(353,429)|
||Increase/(decrease)||in fees received|||in advance||||||399,822|(410,962)|
||Net cash provided|by operating|||activities|||||||1,140,359|35,026|
|24.|Analysis ofcash and cash equivalents|||||||||||||
|||||||||||||2021
8|2020f|
||Cash in hand|||||||||||1,117,104|364,904|
||Overdraft
facility repayable
on demand||||||||||||(464,623)|
||Total cash and cash||equivalents|||||||||1,1'l7,104|(99,719)|
##
##
##
||||At 1|||
|---|---|---|---|---|---|
||||September||At 31|
||||2020|Cash flows|August 2021|
||||6|6||
|Cash at bank and in hand|||364,904|752,200|1,117,104|
|Bank overdrafts|repayable|on demand|(464,623)|464,623||
|Debt due within|1 year||(814,659)|(667,238)|(1,481,897)|
|Debt due after 1 year|||(1,549,166)|31,619|(1,517,547)|
|Finance leases|||(241,177)|72,262|(168,915)|
||||(2,704,721)|653,466|(2,051,255)|
##
##
##
##
##
|cancellable|o|perating
leases as follows:|||
|---|---|---|---|---|
||||2021|2020|
|Not later than||1 year|49,818|50,598|
|Later than|1 year and not later than 5years||37,769|87,587|
||||87,587|138,185|
##
##
##
##