2021-08-31-accounts - The Loyola Preparatory School

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

		Page
Report ofthe Trustees	1	to	6
Report ofthe Independent Auditors	7	to	10
Statement ofFinancial Activities
Statement ofFinancial Position		12
Statement ofCash Flows		13
Notes to the Statement ofCash Flows		14
Notes to the Financial Statements	15	to	21
Detailed Statement ofFinancial Activities		22

Bancroits				7places
Brentwood				5places
Bishop Stortford College				2 places
Chigwell				8places
City ofLondon for Boys				1 place
Felsted				2 places
Forest				4 places plus	1 Academic & Sports	Scholarship
New Hall				1 place
Nonnanhurst				3places plus	1 Sports Scholarship
St Edmund's	College			11places plus	2 Scholarships
44 places offered, 4 scholarships				offered.
7boys sat for grammar		schools		and the boys received many offers from schools including:			St Olave's,	Ilford
County High,	King Edward's,		Queen Elizabeth's,		Colchester Grammar	and Latymer.

The	Loyola Preparatory School Trust
	Statement ofFinancial Position
	31stAugust 2021
		2021	2020
		Unrestricted	Total
		funds	funds
	Notes
FIXEDASSETS
Tangible assets		2,239,549	2,211,508
CURRENT ASSETS
Debtors	10	39,286	45,968
Cash at bank and in hand		795,967	824,747
		835,253	870,715
CREDITORS
Amounts falling due within one year	11	(317,026)	(350,117)
NET CURRENT ASSETS		518,227	520,598
t
TOTAL ASSETSLESSCURRENT
LIABILITIES		2,757,776	2,732,106
CREDITORS
Amounts falling due after more than one
year	12	(201,744)	(225,312)
NET ASSETS		2,556,032	2,506,794
FUNDS	14
Unrestricted funds		2,556,032	2,506,794
TOTAL FUNDS		2,556,032	2,506,794

							Statement ofCash Flows
					for	the Year Ended 31stAugust 2021
								2021	2020
						Notes
Cash flows from	operating		activities
Cash generated from operations								129,043	218,199
Interest paid								(13,085)	(2,893)
Net cash provided	by operating			activities				115,958	215,306
Cash flows from	investing		activities
Purchase oftangible fixed		assets						(126,056)	(17,863)
Interest received								32	50
Net cash used in	investing	activities						(126,024)	(17,813)
Cash flows from	financing		activities
New loans in year									250,000
Loan repayments	in year							(18,714)	(8,202)
Net cash (used in)/provided			by	financing			activities	(18,714)	241,798
Change in cash and cash		equivalents
in the reporting	period							(28,780)	439,291
Cash and cash equivalents			at	the
beginning ofthe	reporting		period					824,747	385,456
Cash and cash equivalents			at	the	end
ofthe reporting	period							795,967	824,747

				2021	2020
Net income	for the	reporting	period (as per the Statement of
Financial Activities)				49,238	56,004
Adjustments	for:
Depreciation	charges			98,015	96,636
Interest received				(32)	(50)
Interest paid				13,085	2,893
Decrease in	debtors			6,682	13,283
(Decrease)/increase		in creditors		(37,945)	49,433
Net cash provided		by operations		129,043	218,199
ANALYSIS	OF CHANGES IN NET FUNDS

					2021	2020
Wages and		salaries			1,097,425	1,086,833
Social security costs					92,663	90,767
Other pension costs					161,459	151,891
					1,351,547	1,329,491
The average		monthly	number ofemployees	during the year was as follows:
					2021	2020
					FTE	FTE
Teaching					16.13	16.56
Classroom	assistants		and welfare		10.61	10.42
Administration					2.63	2.63
Premises					3.29	3.29
Catering					3.93	3 93
					36.59	36.83

	One employee received emoluments	in excess of f70,000 but below
	f80,000.
8.	COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES

COMPAR	ATIVES FORTHE STATEMENT OF FINANCIAL	ACTIVITIES
		Unrestricte
		funds
INCOME	AND ENDOWMENTS FROM
Other trading activities		1,840,210
Investment	income	1,546
Other income		76,985
Total		1,918,741
EXPENDITURE ON
Charitable	activities
Scliool		1,862,737

	Notes to the Financial Statements - continued for the Year Ended 31stAugust 2021	Notes to the Financial Statements - continued for the Year Ended 31stAugust 2021
COMPARATIVKS	FOR THE STATEMENT OF FINANCIAL ACTIVITIES —continued
		Unrestricte
		fundsI
NET INCOME		56,004
RECONCILIATION	OF FUNDS
Total funds brought	forward	2,450,790
TOTAL FUNDS CARRIED
FORWARD		2,506,794

10.	DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
			2021	2020
	Trade debtors		13,646	15,217
	Prepayments		25,640	30,751
			39,286	45,968
11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			2021	2020
	Bank loans and overdrafts	(see note 13)	21,340	16,486
	Trade creditors		212,555	179,446
	Other creditors		83,131	154,185
			317,026	350,117
12.	CREDITORS: AMOUNTS PALLING DUE AFTER MORE THAN		ONE YEAR
			2021	2020
	Bank loans (see note 13)		201,744	225,312
13.	LOANS
	An analysis ofthe maturity	ofloans is given below:
			2021	2020
	Amounts falling due within	one year on demand:
	Bank loans		21,340	16,486
	Amounts falling between one and two years:
	Bank loans - 1-2years		22,369	16,486
	Amounts falling due between two and five years:
	Bank loans - 2-5 years		73,791	49,459
	Amounts falling due in more than five years:
	Repayable by instahnents:
	Bank loans more 5 yr by instal		105,584	159,367

	The Loyola Preparatory School Trust
	Detailed Statement ofFinancial Activities
	for the Year Ended 31stAugust 2021
		2021	2020
INCOME AND ENDOWMENTS
Other trading	activities
Fees receivable		1,876,695	1,765,155
Grant income			236
Commissions receivable			572
Homework classes &clubs		4,800	7,362
Non-refundable	entrance fees	11,275	11,600
Other income		10,080	11,358
Before &after	school club		30,276
Holiday club			13,651
		1,902,850	1,840,210
Investment income
Charities Trust	Fund	44	1,496
Deposit account interest		32	50
		76	1,546
Other income
Other income		27,943	76,985
Total incoming	resources	1,930,869	1,918,741
EXPENDITURE
Charitable activities
Teaching costs		1,191,184	1,157,413
Administration	costs	278,785	285,483
Premises costs		398,577	416,948
		1,868,546	1,859,844
Support costs
Other
Bank interest		13,085	2,893
Total resources	expended	1 881 631	1 862 737
Net income		49,238	56,004