##
##
||||Page|
|---|---|---|---|
|Reference and Administrative||Details ofthe School, its Trustees and Advisers|1-2|
|Trustees'
Report||||
|Independent|Auditors'
Report|on the Financial Statements|15-17|
|Consolidated|Statement ofFinancial Activities||18|
|Consolidated|Balance Sheet||19|
|School Balance Sheet|||20|
|Consolidated|Statement ofCash Flows||21|
|Notes to the|Financial Statements||22-42|
##
##
|Trustees 5|Trustees 5|Directors|Mr C M Clapp, Chairt|||||
|---|---|---|---|---|---|---|---|
||||Dr SBAnsell2, 3|||||
||||Mr N Arnold1, 2,3,4|||||
||||Mr N Cryern3|||||
||||Mr N P Hall, Vice Chairt, za|||||
||||Mr G L Howen4|||||
||||Mr BJ Hurst-Bannister|(resigned||29 November|2019)1.4|
||||Mr P M Johnson
(resigned||3 July|2020)us||
||||Mr M J Lovettt, 4|||||
||||Mrs M MacNeicexa, 4|||||
||||Mr J KMacPherson
(resigned 29 November 2019)t2,3|||||
||||Mrs J M A Mannixt, &4|||||
||||Fr R Maudsleyz, s|||||
||||Rt Rev'd
N H P McKinneh||3|||
||||Mr RW Thanet, a,s|||||
||||Mr
I R G Thomast,
&|||||
||||Mrs JSThomson1, 3,4|||||
||||Dr M EWoods, 4|||||
||||'
Finance and General
' Blundell's
Preparatory
' Education
Committee|Purposes
Committee
School Committee||||
||||4 Governance
Committee|||||
|Company|registered|||||||
|number|||04016403|||||
|Charity registered||||||||
|number|||1081249|||||
|Registered||office|Blundells Road|||||
||||Tiverton|||||
||||Devon|||||
||||EX164DN|||||
|Head|||Mr BWielenga,
BCom,|Natal & Johannesburg,|||BEd|
|Company|secretary||Mrs A Hedrich-Wiggans,||MA (Cantab), MSt (Oxon), ACA|||
|Independent||auditors|Bishop Fleming
LLP|||||
||||Chartered
Accountants|||||
||||Statutory
Auditors|||||
||||2nd Floor Stratus House|||||
||||Emperor Way|||||
||||Exeter Business Park|||||
||||Exeter|||||
||||EX1 3QS|||||
##
##
|Bankers|Allied Irish Bank (GB)(to October 2020)
19Whiteladies
Road|
|---|---|
||Clifton|
||Bristol|
||BS61PB|
||HSBC Bank Pic (from October 2020)|
||Stratus House|
||Emperor Way|
||Exeter Business Park|
||Exeter|
||EX1 3QS|
|Solicitors|Hole &Pugsley|
||6St Peter Street|
||Tiverton|
||Devon|
||EX166NX|
||Harrison
Clark Rickerbys|
||Ellenborough
House|
||Wellington
Street|
||Cheltenham|
||GL50 1YD|
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||||Endowment|Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|funds|
||||2020|2020|2020|2020|2019|
|||Note|5000|6000|6000|6000|5000|
|INCOME AND||||||||
|ENDOWMENTS||||||||
|FROM:||||||||
|Donations
and legacies||||574||574|1,400|
|Charitable
activities||||590|14,154|14,744|15,000|
|Other trading
activities|||||222|222|192|
|Investments||||40||43|21|
|TOTAL INCOME|AND|||||||
|ENDOWMENTS|||3|1,204|14,376|15,583|16,613|
|EXPENDITURE ON:||||||||
|Raising funds|||||232|232|288|
|Chadtable
activities:||||||||
|Other charitable||||||||
|activities||||675|14,269|14,944|14,554|
|TOTAL||||||||
|EXPENDITURE||||675|14,501|15,176|14,822|
|Net gains/(losses)|on|||||||
|investments||||39|(2)|39|57|
|NET MOVEMENT|IN|||||||
|FUNDS||||568|(127)|446|1,848|
|RECONCILIATION|OF|||||||
|FUNDS:||||||||
|Total funds brought||||||||
|forward|||116|3,588|11,956|15,660|13,812|
|Net movement
in funds|||5|568|(127)|446|1,848|
|TOTAL FUNDS||||||||
|CARRIED||||||||
|FORWARD|||121|4,156|11,829|16,106|15,860|
##
##
||Restricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2020|2020|2019|
||5000|5000|5000|
|Donations|9|9|49|
|Legacies|565|565|1,351|
|TOTAL 2020|574|574|1,400|
|TOTAL 2019|1,400|1,400||
##
||||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|funds|
||||||2020|2020|2020|2019|
||||||5000|EOOO|5000|FOOD|
|Gross Fees||||||16,947|16,947|17,794|
|Less: Total scholarships,||bursaries,||grants|||||
|and allowances||||||(2,793)|(2,793)|(2,804)|
|Add back: scholarships,||bursaries,||grants and|||||
|allowances|paid by Restricted||Funds||8||8|10|
|Furlough
funding|||||582||582||
|TOTAL 2020|||||590|14,154|14,744|15,000|
|TOTAL 2019||||||15,000|15,000||
##
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##
##
|Depreciation|is provided|on|the following|basis:||
|---|---|---|---|---|---|
|Freehold
property||||1%||
|Short-term
leasehold|||property|||
|Plant|and machinery|||10% or 25%for Computer|Equipment|
|Motor|vehicles|||25%||
|Other|fixed assets|||7%||
##
##
##
##
##
##
##
##
|||||2020|2019|
|---|---|---|---|---|---|
|||||6000|5000|
|CASH FLOWS FROM OPERATING ACTIVITIES||||||
|Net cash used
in operating
activities||||1,033|2,637|
|CASH FLOWS FRONI INVESTING|ACTIVITIES|||||
|Dividends
and interest received from investments||||43|21|
|Purchase oftangible
fixed assets||||(737)|(678)|
|Purchase ofinvestments||||(1,187)||
|Interest paid on bank loans and overdraft||||(58)|(149)|
|NET CASH USED IN INVESTING|ACTIVITIES|||(1,939)|(806)|
|CASH FLOWS FROM FINANCING|ACTIVITIES|||||
|Cash inflows from new borrowing||||415|495|
|Repayments
of borrowing||||(668)|(645)|
|NET CASH USED IN FINANCING|ACTIVITIES|||(253)|(150)|
|CHANGE
IN CASH AND CASH EQUIVALENTS||IN THE|YEAR|(1,159)|1,681|
|Cash and cash equivalents
at the beginning
ofthe year||||2,841|1,160|
|CASH AND CASH EQUIVALENTS|AT THE END|OF THE YEAR||1,682|2,841|
|The Notes on pages 22 to42 form|part ofthese financial||statements|||
##
|||||2020||2019|
|---|---|---|---|---|---|---|
|||Note||8000||8000|
|FIXEDASSETS|||||||
|Tangible assets||14||17,305||17,228|
|Investments||15||2,237||1,009|
|||||19,542||18,237|
|CURRENT ASSETS|||||||
|Stocks||16|172||169||
|Debtors||17|747||553||
|Cash at bank and|in hand||1,637||2,814||
||||2,556||3,536||
|Creditors: amounts|falling due within one||||||
|year||18|(4,484)||(3,881)||
|NET CURRENT LIABILITIES||||(1,928)||(345)|
|TOTAL ASSETS|LESSCURRENT||||||
|LIABILITIES||||17,614||17,892|
|Creditors: amounts|falling due after more||||||
|than one year||19||(1,536)||(2,254)|
|NET ASSETS EXCLUDING PENSION|||||||
|ASSET||||16,078||15,638|
|TOTAL NET ASSETS||||16,078||15,838|
|CHARITYFUNDS|||||||
|Endowment
funds||21||121||116|
|Restricted funds||21||4,155||3,588|
|Unrestricted
funds||21||11,802||11,934|
|TOTAL FUNDS||||16,078||15,838|
##
##
|||||2020||2019|
|---|---|---|---|---|---|---|
|||Note||6000||f000|
|FIXEDASSETS|||||||
|Tangible assets||14||17,305||17,228|
|Investments||15||2,237||1,009|
|||||19,542||18,237|
|CURRENT ASSETS|||||||
|Stocks||15|172||169||
|Debtors||17|741||558||
|Cash at bank and|in hand||1,682||2,841||
||||2,595||3,588||
|Creditors: amounts|falling due within one||||||
|year||18|(4,495)||(3,891)||
|NET CURRENT LIABILITIES||||(1,900)||(323)|
|TOTAL ASSETSLESSCURRENT|||||||
|LIABILITIES||||17,642||17,914|
|Creditors: amounts|falling due after more||||||
|than one year||19||(1,536)||(2,254)|
|NET ASSETS EXCLUDING PENSION|||||||
|ASSET||||16,106||15,880|
|TOTAL NET ASSETS||||16,106||15,680|
|CHARITY FUNDS|||||||
|Endowment
funds||21||121||116|
|Restricted funds||21||4,156||3,588|
|Unrestricted
funds||21||11,829||11,955|
|TOTAL FUNDS||||16,106||15,580|
##
##
##
||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2020|2020|2019|
||||5000|6000|6000|
|Trading|subsidiary||37|37|23|
|Ancillary|trading|turnover|185|185|169|
|TOTAL|2020||222|222|192|
|TOTAL|2019||192|192||
|||||Endowment|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2020|2020|2020|2019|
|||||6000|6000|6000|6000|
|Income|from|listed|investments||40|43|21|
|TOTAL|2019||||21|21||
##
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2020|2020|2019|
|||6000|6000|6000|
|Fundraising|costs|99||116|
|TOTAL 2019||116|116||
##
##
##
##
|||Unrestncted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2020|2020|2019|
|||EOOO|8000|OOOO|
|Trading costs||99|99|127|
|Trading staff|costs|21|21|21|
|Cost ofsales||9|9||
|Administration|expenses|4|4||
|TOTAL 2020||133|133|152|
|TOTAL 2019||152|152||
##
##
|||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2020|2020|2020|2019|
|||8000|8000|8000|6000|
|Teaching||672|8,309|8,981|8,371|
|Welfare|||1,627|1,627|1,830|
|Premises|||2,902|2,902|3,059|
|Grants, awards and prizes||||3|4|
|Marketing|||220|220|274|
|Office and administration|costs||859|859|780|
|Minibus|||80|80|83|
|Finance costs|||272|272|153|
|TOTAL 2020||675|14,269|14,944|14,554|
|TOTAL 2019||99|14,455|14,554||
##
##
##
||||Activities||||
|---|---|---|---|---|---|---|
||||undertaken|Support|Total|Total|
||||directly
2020|costs
2020|funds
2020|funds
2019|
||||6000|f000|f000|f000|
|Teaching|||8,872|109|8,981|8,371|
|Welfare|||1,827||1,627|1,830|
|Premises|||2,241||2,902|3,059|
|Grants, awards|and prizes||||3|4|
|Marketing||||220|220|274|
|Office and administration||costs||859|859|780|
|Minibus||||80|80|83|
|Finance costs||||272|272|153|
|TOTAL 2020|||12,743|2,201|14,944|14,554|
|TOTAL 2019|||12,567|1,987|14,554||
##
##
|STAFF CO|STS|||||||
|---|---|---|---|---|---|---|---|
|||||Group
2020|Group
2019|School
2020|School
2019|
|||||FOOO|FOOO|f000|f000|
|Wages and|salaries|||8,382|8,422|8,382|8,422|
|Social security costs||||714|701|714|701|
|Contribution
schemes|to defined|contribution|pension|1,400|1,002|1,400|1,002|
|||||10,496|10,125|10,496|10,125|
##
##
||||Group|Group|
|---|---|---|---|---|
||||2020|2019|
||||No.|No.|
|Education|||202|209|
|Services|||112|110|
|Support|||13|11|
|Fundraising|||3|3|
|Catering|and|shop|34|43|
||||364|376|
|Group|Group|
|---|---|
|2020|2019|
|No.|No.|
##
##
##
|||Short-term|||||
|---|---|---|---|---|---|---|
||Freehold|leasehold|Plant and|Motor|Other fixed||
||property
6000|property
f000|machinery
6000|vehicles
f000|assets
6000|Total
5000|
|COST OR|||||||
|VALUATION|||||||
|At 1 September 2019|17,491|114|5,130|125|1,112|23,972|
|Additions|||563||174|737|
|Dispossls|||(62)|||(62)|
|Transfers
between|||||||
|classes|||339||(339)||
|At 31August 2020|17,491|114|5,970|125|947|24,647|
|DEPRECIATION|||||||
|At 1 September 2019|2,388|107|3,632|103|514|6,744|
|Charge for the year|175|6|417|10|52|660|
|On disposals|||(62)|||(62)|
|At 31 August 2020|2,563|113|3,987|113|566|7,342|
|NET BOOK VALUE|||||||
|At 31 August 2020|14,928|1|1,983|12|381|17,305|
|At 31 August 2019|15,103|7|1,498|22|598|17,228|
##
##
|15.|FIXEDASSET INVESTMENTS|FIXEDASSET INVESTMENTS|||||
|---|---|---|---|---|---|---|
||||||Other fixed||
|||||Listed|asset||
||Group and|School||investments
5000|investments
6000|Total
6000|
||COST OR VALUATION||||||
||At 1 September 2019|||472|537|1,009|
||Additions|||600|595|1,195|
||Gain/(Loss)|||(10)|43|33|
||AT 31AUGUST 2020|||1,062|1,175|2,237|
||NET BOOK|VALUE|||||
||AT 31AUGUST 2020|||1,062|1,175|2,237|
||AT31AUG(/ST2019|||472|537|1,009|
|16.|STOCKS||||||
||||Group|Group|School|School|
||||2020|2019|2020|2019|
||||6000|5000|6000|5000|
||Finished goods and goods for resale||172|169|172|169|
|17.|DEBTORS||||||
||||Group|Group|School|School|
||||2020|2019|2020|2019|
||||5000|6000|6000|6000|
||DUE WITHIN|ONE YEAR|||||
||Trade debtors||332|437|332|437|
||Amounts
owed by group undertakings||||12|4|
||Other debtors||94|30|88|21|
||Prepayments|and accrued income|315|91|315|91|
||||741|558|747|553|
##
##
##
##
##
##
|||Group|Group|School|School|
|---|---|---|---|---|---|
|||2020|2019|2020|2019|
|||6000|f000|5000|5000|
|Bankloans||949|1,814|949|1,814|
|Refundable|deposits|352|302|352|302|
|Fees in advance||235|338|235|338|
|||1,536|2,254|1,536|2,254|
##
||||Group|Group|School|School|
|---|---|---|---|---|---|---|
||||2020|2019|2020|2019|
||||6000|EOOO|5000|6000|
|FINANCIAL ASSETS|||||||
|Financial|assets measured|at fair value|||||
|through|income and expenditure||1,062|472|1,062|472|
##
##
|STATEMENT OF FU|N|DS - CU|RRENT YEAR|||||
|---|---|---|---|---|---|---|---|
||||Balance at 1||||Balance at|
||||September
2019
6000|Income
R000|Expenditure
5000|Gains/
(Losses)
f000|31 August
2020
K000|
|UNRESTRICTED FUNDS||||||||
|General funds|||11,934|14,339|(14,469)|(2)|11,802|
|Non-charitable
trading||reserves|22|37|(32)||27|
||||11,956|14,376|(14,501)|(2)|11,829|
|ENDOWMENT
FUNDS||||||||
|Peter Hurford
Organ|Scholar||116|||2|121|
|RESTRICTED FUNDS||||||||
|Scholarhips
and prizes|||257|20|(4)|(26)|247|
|Unspent
donations|||18||||18|
|Foundation
Appeal|||1,070|61|(74)||1,057|
|James Bullock Memorial
Scholarship
Fund|||38||(3)||37|
|Colin Beale|||235||(3)||232|
|Hay Library Fund|||47||(2)||45|
|War Memorial
Fund|||210||||220|
|Reserve Account|||4||||4|
|CCF|||43||(2)||44|
|Chapel Funds|||173||(4)||169|
|Music Funds|||2||(1)||1|
|Preparatory
School Drama
Fund|||12||||12|
|Halford Bequest|||118|2||26|146|
|Fiona Baddeley Drama||Fund|17|1|||18|
|Agdcultural
Bursary Fund|||155|5||3|163|
|Holstius
Scholarship|Fund||1,189|14||30|1 233|
|The John Victor Reynolds and||||||||
|Beryl Reynolds
Music
Scholarship
Fund||||510|||510|
|Furlough
Grant||||582|(582)|||
||||3,588|1,204|(675)|39|4,156|
|TOTAL OF FUNDS|||15,660|15,583|(15,176)|39|16,106|
##
##
##
|||Balance at||||Balance at|
|---|---|---|---|---|---|---|
|UNRESTRICTED FUNDS||1 September
2018
5000|Income
6000|Expenditure
6000|Gains/
(Losses)
E000|31August
2019
6000|
|General Reserve||11,454|15,175|(14,698)|3|11,934|
|Non-charitable
trading||17|22|(17)||22|
|||11,471|15,197|(14,715)|3|11,956|
|ENDOWMENT
FUNDS|||||||
|Peter Hurford
Organ|||||||
|Scholarship||102|||12|116|
|RESTRICTED FUNDS|||||||
|Scholarships
and prizes||250||||257|
|Unspent
donations||16||||18|
|Foundation
Appeal
James Bullock Memorial||956|196|(82)||1,070|
|Scholarship
Fund||36||(3)||38|
|Colin Beale||238||(3)||235|
|Hay Library Fund||45||(7)||47|
|War Memorial
Fund||192|||13|210|
|Reserve Account||4||||4|
|CCF||37|10|(4)||43|
|Chapel Funds||179||(6)||173|
|Music Funds||3||(1)||2|
|Preparatory
School Drama|||||||
|Fund||12||||12|
|Halford Bequest
Fiona Baddeley Drama Fund||120
15|||(2)
2|118
17|
|Agricultural
Bursary Fund||136|3||16|155|
|Holstius
Scholarship|Fund||1,189|||1,189|
|||2,239|1,414|(107)|42|3,588|
|TOTAL OF FUNDS||13,812|16,613|(14,822)|57|15,660|
##
##
##
##
|ANALYSIS OF NET ASSETS BETWEEN|FUNDS -CURRENT|PERIOD|||
|---|---|---|---|---|
||Endowment|Restricted|Unrestricted|Total|
||funds|funds|funds|funds|
||2020|2020|2020|2020|
||6000|6000|6000|6000|
|Tangible fixed assets||1,435|15,870|17,305|
|Fixed asset investments|116|1,849|272|2,237|
|Current assets||872|1,718|2,595|
|Creditors due within one year|||(4,495)|(4,495)|
|Creditors due in more than one year|||(1,536)|(1,536)|
|TOTAL|121|4,156|11,829|16,106|
##
||Endowment|Restricted|Unrestricted|Total|
|---|---|---|---|---|
||funds|funds|funds|funds|
||2019|2019|2019|2019|
||6000|5000|f000|5000|
|Tangible fixed assets||1,456|15,772|17,228|
|Fixed asset investments|112|794|103|1,009|
|Current assets||1,338|2,226|3,568|
|Creditors due within one year|||(3,891)|(3,891)|
|Creditors due in more than one year|||(2,254)|(2,254)|
|TOTAL|116|3,588|11,956|15,660|
##
##
||RECONCILIATION
OF NET MOVEMENT|RECONCILIATION
OF NET MOVEMENT|IN FUNDS TO NET CASH FLOW FROM OPERATING|IN FUNDS TO NET CASH FLOW FROM OPERATING|IN FUNDS TO NET CASH FLOW FROM OPERATING||
|---|---|---|---|---|---|---|
|23.|ACTIVITIES||||||
||||||Group|Group|
||||||2020|2019|
||||||K000|5000|
||Net income for the period (as per Statement ofFinancial|||Activities)|446|1,848|
||ADJUSTMENTS FOR:||||||
||Depreciation
charges||||660|594|
||Interest payable||||58|153|
||Gains on investments||||(39)|(57)|
||Income from investments||||(43)|(21)|
||Additions to investments|||||(306)|
||(Increase)/Decrease|in stocks|||(3)|30|
||(Increase)/Decrease|in debtors|||(183)|(52)|
||Increase/(Decrease)|in creditors|||137|458|
||NET CASH PROVIDED BYOPERATING||ACTIVITIES||1,033|2,637|
|24.|ANALYSIS OF CASH AND CASH EQUIVALENTS||||||
||||||Group|Group|
||||||2020
5000|2019
f000|
||Cash in hand||||1,682|2,841|
||TOTAL CASH AND|CASH EQUIVALENTS|||1,682|2,841|
##
||||||At 1|||
|---|---|---|---|---|---|---|---|
||||||September||At 31|
||||||2019|Cash flows|August 2020|
|||||||K000|KOOO|
||||||F000|||
|Cash|at bank and||in hand||2,841|(1,159)|1,682|
|Bank|overdrafts|repayable||on demand||(277)|(277)|
|Debt|due within|1|year||(748)|(118)|(866)|
|Debt|due after 1 year||||(1,614)|665|(949)|
||||||479|(889)|(410)|
##
##
##
##
##
##
##
##
##
|under non|-can|cegable
operating leases as follow|s:||||
|---|---|---|---|---|---|---|
||||Group
2020|Group
2019|School
2020|School
2019|
||||6000|f000|5000|FOOO|
|Not later than||1 year|78|103|78|103|
|Later than|1 year and not later than 5 years||275|254|275|254|
|Later than|5years|||126||126|
||||353|483|353|483|
##
|Name|||Company|Registered
office or principal|Registered
office or principal|Principal|activity|
|---|---|---|---|---|---|---|---|
||||number|place of|business|||
|Horsdon|Enterprises|Limited|027658380|Blundell's
School, Blundell's
Road, Tiverton, EX16 4DT||Lettings services and
sub contract work||
|||||||for the|school|
|Holding|Included|in||||||
||consolidation|||||||
|Name|||Income
6000|Expenditure
KOOO|Profit/(Loss)
lSurplusi|Net assets
5000|
|---|---|---|---|---|---|---|
||||||(Deficit) for||
||||||the year||
||||||EOOO||
|Horsdon|Enterprises|Limited|37|(14)|23|27|
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