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|||||Page|
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|Reference and administrative||details ofthe School, its Governors|and advisers|1-2|
|Chairman's
statement||||3-4|
|Governors'
report||||5-16|
|Independent
auditors'|report|on the financial statements||17-20|
|Stateinent offinancial|activities|||21|
|Balance sheet||||22|
|Statement ofcash flows||||23|
|Notes to the financial|statements|||24-45|
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|||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|funds|
||||Note|2023f|2023
6|2023|2023|2022|
|Income from:|||||||||
|Donations and|legacies||4||141,441||141,441|68,837|
|Charitable
activities|||5|7,423,530|||7,423,530|6,448,441|
|Other trading|activities||7|289,687|||289,687|223,667|
|Investments|||8|31,227||1,255|32,482|8,297|
|Total income|and||||||||
|endowments||||7,744,444|141,441|1,255|7,887,140|6,749,242|
|Expenditure
on:|||||||||
|Raising funds|||9|315,904|||315,904|220,955|
|Charitable
activities|||10|7,332,976|29,742||7,362,718|6,405,389|
|Total expenditure||||7,648,880|29,742||7,678,622|6,627,344|
|Net income before|||||||||
|net (losses)/gains||on|||||||
|investments||||95,564|111,699|1,255|208,518|121,898|
|Net (losses)/gains||on|||||||
|investments||||(52)||179|127|(5,087)|
|Net movement|in||||||||
|funds||||95,512|111,699|1,434|208,645|116,811|
|Reconciliation|of||||||||
|funds:|||||||||
|Total funds brought|||||||||
|forward||||4,060,975|305,903|770,165|5,137,043|5,020,232|
|Net movement|in funds|||95,512|111,699|1,434|208,645|116,811|
|Total funds carried|||||||||
|forward||||4,156,487|417,602|771,599|5,345,688|5,137,043|
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|||||Note|2023f|2022f|
|---|---|---|---|---|---|---|
|Cash flows from operating|activities||||||
|Net cash used
in operating|activities|||22|1,098,864|1,295,765|
|Cash flows from investing|activities||||||
|Proceeds from the sale oftangible fixed||assets|||17,750|13,753|
|Purchase oftangible fixed assets|||||(646,651)|(300,992)|
|Net cash used in investing|activities||||(628,901)|(287,239)|
|Cash flows from financing|activities||||||
|Repayments
of borrowing|||||(254,931)|(168,432)|
|New finance leases|||||81,040||
|Repayments
offinance leases|||||(67,919)|(22,395)|
|Net cash used in financing|activities||||(241,810)|(190,827)|
|Change
in cash and cash|equivalents|in|the year||228,153|817,699|
|Cash and cash equivalents|at the beginning||ofthe year||1,934,803|1,117,104|
|Cash and cash equivalents|at the end of||the year|23|2,162,956|1,934,803|
|The notes on pages 24 to45form 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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||||Restricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2023
6|2023
6|2022f|
|Donations 8|fundraising||141,441|141,441|68,837|
|Total 2022|||68,837|68,837||
|Income from charitable||activities||||
||||Unrestricted|Total|Total|
||||funds|funds|funds|
||||2023|2023|2022|
||||6|||
|School Fees|||6,994,086|6,994,086|6,031,344|
|Registration|Income||81,816|81,816|57,418|
|Shop Income|||104,582|104,582|105,072|
|Other School|Income||243,046|243,046|254,607|
|Total 2023|||7,423,530|7,423,530|6,448,441|
|Total 2022|||6,448,441|6,448,441||
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|Charitable
a|ctivities|- school fees|||
|---|---|---|---|---|
||||2023
6|2022f|
|Gross school|fees||9,144,867|8,427,642|
|Scholarship,|bursariss|and remissions|(2,150,781)|(2,396,298)|
|Total|||6,994,086|6,031,344|
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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023|2023|2022|
||||6||
|Leliings/Hire|ofSchool|289,687|289,687|223,667|
|Total 2022||223,667|223,667||
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|||Unrestricted|Endowment|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2023
E|2023
6|2023f|2022f|
|Listed|Investments|82|1,255|1,337|1,314|
|Cash|Investments|31,145||31,145|6,983|
|||31,227|1,255|32,482|8,297|
|Total|2022|7,052|1,245|8,297||
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023|2023|2022|
|||6|||
|Finance costs||123,140|123,140|68,606|
|Fundraising|costs|192,764|192,764|152,349|
|||315,904|315,904|220,955|
|Total 2022||220,955|220,955||
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|||||Unrestricted|Restricted|||
|---|---|---|---|---|---|---|---|
|||||funds|funds|Total|Total|
|||||2023|2023f|2023f|2022f|
|Teaching||||3,083,685|13,831|3,097,516|2,899,932|
|Welfare||||895,895||895,895|813,599|
|Premises||||1,887,209|15,911|1,903,120|1,499,625|
|Support costs and governance||||1,466,187||1,466,187|1,193,233|
|||||7,332,976|29,742|7,362,718|6,406,389|
|Total 2022||||6,380,283|26,106|6,406,389||
|Summary|by expenditure|type||||||
|||||Depreciatio||||
||||Staffcosts|n|Other costs|Total|Total|
||||2023
6|2023
f|2023|2023f|2022|
|Teaching|||2,904,274||193,242|3,097,516|2,899,932|
|Welfare|||156,926||738,969|895,895|813,599|
|Premises|||562,664|344,152|996,304|1,903,120|1,499,625|
|Support costs and governance|||520,387||945,800|1,466,187|1,193,233|
||||4,144,251|344,152|2,874,315|7,362,718|6,406,389|
|Total 2022|||3,876,127|281,875|2,248,387|6,406,389||
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|2023f|2022|
|---|---|
|50,139|42,351|
|294,015|239,526|
|16,583|13,175|
|360,737|295,052|
##
|2023f|2022f|
|---|---|
|3,461,795|3,235,048|
|292,180|285,540|
|390,276|355,539|
|4,144,251|3,876,127|
|2023|2022|
|---|---|
|No.|No.|
|85|8f|
|18|f6|
|35|36|
|8|6|
||139|
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||2023|2022|
|---|---|---|
||No.|No.|
|Academic|70|64|
|Support|16|15|
|Estates|26|26|
|Welfare|4|4|
||116|109|
|2023|2022|
|---|---|
|No.|No.|
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||Freehold|Motor||Fixtures and||
|---|---|---|---|---|---|
||property|vehicles||fittings|Total|
||6|||6|6|
|Cost or valuation||||||
|At 1 September 2022|8,681,474|286,190||3,620,868|12,588,532|
|Additions||154,045||492,606|646,651|
|Disposals||(33,153)|||(33,153)|
|At 31 August 2023|8,681,474|407,082||4,113,474|13,202,030|
|Depreciation||||||
|At 1 September 2022|1,861,692|174,479||2,692,905|4,729,076|
|Charge for the year|122,492|35,679||185,983|344,154|
|On disposals||(23,776)|||(23,776)|
|At 31 August 2023|1,984,184|186,382||2,878,888|5,049,454|
|Net book value||||||
|At 31 August 2023|6,697,290|220,700||1,234,586|8,152,576|
|At31August 2022|6,819,782|111,711||927,963|7,859,456|
|The net book value ofassets held under finance leases or hire purchase|||contracts,
included||above, are|
|as follows:||||||
|||||2023|2022|
|||||6||
|Motor vehicles||||43,922|49,454|
|Fixtures and fittings||||127,801|80,778|
|||||171,723|130,232|
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||Listed|
|---|---|
||investments|
||E|
|Cost or valuation||
|At 1 September 2022|87,426|
|Revaluations|127|
|At 31 August 2023|87,553|
|Net book value||
|At 31 August 2023|87,553|
|At3I August 2022|87,426|
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||||2023|2022|
|---|---|---|---|---|
||School shop|items|68,580|61,787|
|17.|Debtors||||
||||2023|2022|
||||6||
||Due within one year||||
||Fee debtors||2,117|13,726|
||Other debtors||71,941|37,616|
||Prepayrnents|and accrued income|125,606|65,330|
||Trade debtors||7,008|16,407|
||||206,672|133,079|
##
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||||2023|2022|
|---|---|---|---|---|
|||||8|
|Bank loans|||199,767|142,926|
|Deposits held|||533,445|424,409|
|Trade creditors|||451,527|261,340|
|Feesin advance|||2,045,325|1,796,548|
|Composite fees|||159,905|125,821|
|Other taxation and social security|||76,621|68,023|
|Obligations
under finance lease and hire purchase||contracts|53,866|52,014|
|Other creditors|||114,702|110,630|
|Accruals and deferred|income||152,794|78,513|
||||3,787,952|3,060,224|
##
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##
|||||2023|2022|
|---|---|---|---|---|---|
|||||6||
|Bank loans||||1,326,194|1,582,792|
|Net obligations|under finance lease and|hire purchase|contracts|105,775|94,506|
|Composite fees||||112,728|201,986|
|||||1,544,697|1,879,284|
|Bank Loans||||||
|Included
within the above are amounts||falling due as|follows:|||
|||||2023|2022|
|||||6||
|Between one and two years||||||
|Bank loans||||199,767|142,926|
|Composite fees||||112,728|110,936|
|Between two and five years||||||
|Bank loans||||504,302|393,777|
|Composite fees|||||91,050|
|Over five years||||||
|Bank loans||||622,125|1,046,089|
||||||2023|2022|
|---|---|---|---|---|---|---|
||||||6||
|Payable|or|repayable|by|instalments|622,125|1,046,089|
||||||622,125|1,046,089|
##
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##
|Obligations
under finance leases and hire purchase
co|ntracts,
included
above, are payable a|s follows:|
|---|---|---|
||2023|2022|
||8||
|Between one and two years|37,389|40,382|
|Between two and five years|68,386|54,124|
|Over five years|||
||105,775|94,508|
##
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##
|Statement|offunds|- c|urrent|year|||||
|---|---|---|---|---|---|---|---|---|
|||||Balance at 1||||Balance at|
|||||September|||Gains/|31August|
|||||2022
6|Income
6|Expenditure
6|(Losses)
f|2023
6|
|Unrestricted|funds||||||||
|Designated|funds||||||||
|School Development||Fund||330,000||||330,000|
|General funds|||||||||
|General Funds||||1,082,863|7,744,444|(7,648,880)|(52)|1,178,375|
|Revaluation|reserve|||2,648,112||||2,648,112|
|||||3,730,975|7,744,444|(7,648,880)|(52)|3,826,487|
|Total Unrestricted||funds||4,060,975|7,744,444|(7,648,880)|(52)|4,156,487|
|Endowment|funds||||||||
|School Charity
Fund||||35,451|563||750|36,764|
|Mrs Wynne|Corrie Memorial||||||||
|Fund||||8,096|||266|8,362|
|Exhibition
&|Scholarship||Fund|44,825|692||(837)|44,680|
|Endowed
Land||||681,793||||681,793|
|||||770,165|1,255||179|771,599|
##
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##
|Stateme|nt
offu|nds - prior year||||||
|---|---|---|---|---|---|---|---|
|||Balance at|||||Balance at|
|||1September|||Transfers|Gains!|31August|
|||2021|Income
f|Expenditure|in/out
f|(Losses)
6|2022
6|
|Unrestricted||||||||
|funds||||||||
|Designated||||||||
|funds||||||||
|School||||||||
|Development||||||||
|Fund||330,000|||||330,000|
|General|funds|||||||
|General|Funds|954,946|6,679,160|(6,601,238)|50,000|(5)|1,082,863|
|Revaluation||||||||
|reserve||2,648,112|||||2,648,112|
|||3,603,058|6,679,160|(6,601,238)|50,000|(5)|3,730,975|
|Total||||||||
|Unrestricted||||||||
|funds||3,933,058|6,679,160|(6,601,238)|50,000|(5)|4,060,975|
|Endowment||||||||
|funds||||||||
|School Charity||||||||
|Fund||37,945||||(3,040)|35,451|
|Mrs Wynne||||||||
|Corrie Memorial||||||||
|Fund||8,069||||27|8,096|
|Exhibition|&|||||||
|Scholarship||||||||
|Fund||46,195|699|||(2,069)|44,825|
|Endowed|Land|681,793|||||681,793|
|||774,002|1,245|||(5,082)|770,165|
##
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|Restricted
funds|||||||
|---|---|---|---|---|---|---|
|David Holbache|||||||
|Appeal
Fund|180,242|23,987||(50,000)||154,229|
|Refurbishment|||||||
|Fund|132,930|40,000|(21,256)|||151,674|
|Old Oswestrian|||||||
|Society||4,850|(4,850)||||
||313,172|68,837|(26,106)|(50,000)||305,903|
|Total offunds|5,020,232|6,749,242|(6,627,344)||(5,087)|5,137,043|
##
|Analysis ofnet assets between funds|- current year||||
|---|---|---|---|---|
||Unrestricted|Restricted|Endowment|Total|
||funds|funds|funds|funds|
||2023|2023|2023|2023|
|||6|6|6|
|Tangible fixed assets|7,034,746|436,037|681,793|8,152,576|
|Fixed asset investments|(2,253)||89,806|87,553|
|Current assets|2,438,208|||2,438,208|
|Creditors due within one year|(3,769,517)|(18,435)||(3,787,952)|
|Creditors due in more than one year|(1,544,697)|||(1,544,697)|
|Total|4,156,487|417,602|771,599|5,345,688|
##
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|||||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2022|2022|2022f|2022|
||Tangible fixed assets|||6,852,954|324,709|681,793|7,859,456|
||Fixed asset investments|||1,504||85,922|87,426|
||Current assets|||2,127,219||2,450|2,129,669|
||Creditors due within one year|||(3,041,418)|(18,806)||(3,060,224)|
||Creditors due in more than one year|||(1,879,284)|||(1,879,284)|
||Total|||4,060,975|305,903|770,165|5,137,043|
|22.|Reconciliation
ofnet movement|in|funds to|net cash flow from operating||activities||
|||||||2023f|2022f|
||Net income for the year (as per Statement of Financial Activities)|||||208,645|116,811|
||Adjustments
for:|||||||
||Depreciation
charges|||||344,154|281,877|
||(Gains)/losses
on investments|||||(127)|5,087|
||(Profit)/loss
on the sale offixed assets|||||(8,373)|(10,838)|
||Increase
in stocks|||||(6,793)|(5,449)|
||Increase
in debtors|||||(73,593)|(39,313)|
||Increase
in creditors|||||16,615|256,336|
||Increase/(decrease)
in fees received||in advance|||618,336|691,254|
||Net cash provided
by operating|activities||||1,098,864|1,295,765|
##
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|Analysis ofcash and|Analysis ofcash and|cash equivalents||||
|---|---|---|---|---|---|
|||||2023
f|2022
5|
|Cash in hand||||2,162,956|1,934,803|
|Total cash and cash||equivalents||2,162,956|1,934,803|
|Analysis ofchanges||in net debt||||
||||At 1||At 31|
||||September||August|
||||2022|Cash flows|2023|
||||6||6|
|Cash at bank and in hand|||1,934,803|228,153|2,162,956|
|Debt due within|1 year||(1,939,474)|(305,618)|(2,245,092)|
|Debt due after 1 year|||(1,582,792)|256,598|(1,326,194)|
|Finance leases|||(146,520)|(13,121)|(159,641)|
||||(1,733,983)|166,012|(1,567,971)|
##
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##
||||2023
6|2022
f|
|---|---|---|---|---|
|Not later than||1 year|14,068|17,902|
|Later than|1 year and not later than 5years||13,143|27,211|
||||27211|45f13|
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