| Page | |||
|---|---|---|---|
| Reference and Administrative Details |
1 | to | 2 |
| Report ofthe Trustees | 3 | to | 10 |
| Statement ofTrustees' Responsibilities |
|||
| Report ofthe Independent Auditors |
12 | to | 15 |
| Statement ofFinancial Activities | 16 | ||
| Balance Sheet | 17 | ||
| Cash Flow Statement | 18 | ||
| Notes to the Cash Flow Statement | 19 | ||
| Notes to the Financial Statements | 20 | to | 38 |
| TRUSTEES | VJDavies | ||
|---|---|---|---|
| RD Hart (resigned 28.9.21) | |||
| Ms JLPreston | |||
| Ms SH Sellers | |||
| Ms CA Pulman | |||
| JW Watts | |||
| Ms H Witt | |||
| WA Lane (resigned 26.8.22) | |||
| Ms C Tipper | |||
| C Harvey (appointed 7.12.21) | |||
| P Oxenham (appointed |
8.2.22) | ||
| N Price (appointed 12.10.22) |
|||
| COMPANY SECRETARY | Ms CA Pulman | ||
| REGISTERED OFFICE | Highland House |
||
| Mayflower Close |
|||
| Chandler's Ford |
|||
| Eastleigh | |||
| SO53 4AR | |||
| REGISTERED COMPANY | 03687622 (England and | Wales) | |
| NUMBER | |||
| REGISTERED CHARITY | 1089055 | ||
| NUMBER | |||
| AUDITORS | Hopper Williams 4Bell Limited | ||
| Statutory Auditor | |||
| Highland House |
|||
| Mayflower Close |
|||
| Chandler's Ford |
|||
| Eastleigh | |||
| Hampshire | |||
| SO53 4AR | |||
| BANKERS | National Westminster |
Bank pic | |
| 3 Lower Northam Road | |||
| Hedge End | |||
| Southampton | |||
| Hampshire | |||
| SO304PA |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | ||||||
| INCOME FROM | ||||||
| Donations and legacies |
741 | 1,217 | 1,958 | 2,205 | ||
| Charitable activities |
||||||
| School fees receivable | 5,448,749 | 5,448,749 | 5,052,220 | |||
| Additional school activities |
547,017 | 547,017 | 427,551 | |||
| Other | 123,927 | |||||
| Investment income |
607 | 607 | 77 | |||
| Other income | 7,352 | 7,352 | 1,100 | |||
| Total | 6,004,466 | 1,217 | 6,005,683 | 5,607,080 | ||
| EXPENDITURE ON | ||||||
| Charitable activities |
||||||
| School operating costs |
4,508,690 | 7,926 | 4,516,616 | 3,958,855 | ||
| Welfare costs | 361,271 | 361,271 | 283,202 | |||
| Transport costs | 297,369 | 297,369 | 308,699 | |||
| Premises | 516,045 | 516,045 | 661,840 | |||
| Total | 5,683,375 | 7,926 | 5,691,301 | 5,212,596 | ||
| NET INCOME/(EXPENDITURE) | 321,091 | (6,709) | 314,382 | 394,484 | ||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought forward |
1,968,832 | 20,165 | 1,988,997 | 1,594,513 | ||
| TOTAL FUNDS CARRIED FORWARD | 2,289,923 | 13,456 | 2,303,379 | 1,988,997 |
| 2022 | 2021 | ||
|---|---|---|---|
| Notes | |||
| FIXEDASSETS | |||
| Tangible assets | 14 | 5,237,951 | 5,304,461 |
| CURRENT ASSETS | |||
| Stocks | 15 | 15,555 | 15,263 |
| Debtors | 16 | 1,129,333 | 1,082,590 |
| Cash at bank | 1,755,995 | 1,179,871 | |
| 2,900,883 | 2,277,724 | ||
| CREDITORS | |||
| Amounts falling due within one year |
17 | (3,817,609) | (3,430,155) |
| NET CURRENT ASSETS | (916,726) | (1,152,431) | |
| TOTAL ASSETSLESSCURRENT | |||
| LIABILITIES | 4,321,225 | 4,152,030 | |
| CREDITORS | |||
| Amounts falling due after more than one year |
18 | (2,017,846) | (2,163,033) |
| NET ASSETS | 2,303,379 | 1,988,997 | |
| FUNDS | 22 | ||
| Unrestricted funds |
2,289,923 | 1,968,832 | |
| Restricted funds | 13,456 | 20,165 | |
| TOTAL FUNDS | 2,303,379 | 1,988,997 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | |||||
| Cash flows from operating | activities | ||||
| Cash generated from operations |
759,777 | 976,780 | |||
| Interest paid | (62,082) | (49,184) | |||
| Interest element ofhire purchase or finance |
|||||
| lease rental payments paid |
(5) | ||||
| Net cash provided by operating activities |
697,695 | 927,591 | |||
| Cash flows from investing | activities | ||||
| Purchase oftangible fixed | assets | (46,326) | (610,930) | ||
| Sale oftangible fixed assets | 7,352 | 2,850 | |||
| Interest received | 607 | 77 | |||
| Net cash used in investing | activities | (38,367) | (608,003) | ||
| Cash flows from financing | activities | ||||
| New loans in year | 2,180,000 | ||||
| Bank loan repayments in year |
(83,204) | (1,981,888) | |||
| Payment offinance lease obligations | (575) | ||||
| Net cash (used in)/provided | by financing | activities | (83,204) | 197,537 | |
| Change in cash and cash | equivalents | in | |||
| the reporting period |
576,124 | 517,125 | |||
| Cash and cash equivalents | at the | ||||
| beginning ofthe reporting |
period | 1,179,871 | 662,746 | ||
| Cash and cash equivalents | at the end | of | |||
| the reporting period |
1,755,995 | 1,179,871 |
| 1. | RECONCILIATION | RECONCILIATION | RECONCILIATION | OF NET INCOME TO NET CASH FLOW FROM | OF NET INCOME TO NET CASH FLOW FROM | OF NET INCOME TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| Net income | for the | reporting | period (as per the Statement ofFinancial | |||||
| Activities) | 314,382 | 394,484 | ||||||
| Adjustments | for: | |||||||
| Depreciation | charges | 112,836 | 148,475 | |||||
| Profit on disposal offixed assets | (7,352) | (1,100) | ||||||
| Interest received | (607) | (77) | ||||||
| Interest paid | 62,082 | 49,184 | ||||||
| Interest element ofhire | purchase | and finance lease rental payments | 5 | |||||
| (Increase)/decrease | in stocks | (292) | 2,593 | |||||
| Increase in debtors | (46,743) | (14,962) | ||||||
| Increase in creditors | 325,471 | 398,178 | ||||||
| Net cash provided | by | operations | 759,777 | 976,780 | ||||
| 2. | ANALYSIS | OF CHANGES IN | NET DEBT | |||||
| At 1.9.21 | Cash flow | At 31.8.22 | ||||||
| Net cash | ||||||||
| Cash at bank | 1,179,871 | 576,124 | 1,755,995 | |||||
| 1,179,871 | 576,124 | 1,755,995 | ||||||
| Debt | ||||||||
| Debts falling | due within | 1 year | (162,616) | 17,771 | (144,845) | |||
| Debts falling | due after | 1 year | (2,026,907) | 65,433 | (1,961,474) | |||
| (2,189,523) | 83,204 | (2,106,319) | ||||||
| Total | (1,009,652) | 659,328 | (350,324) |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Deposit account interest | 607 | 77 | ||||
| 5. | INCOME FROM CHARITABLE ACTIVITIES | |||||
| 2022 | 2021 | |||||
| School | Additional | |||||
| fees | school | Total | Total | |||
| receivable | activities | activities | activities | |||
| School fees | 5,883,483 | 5,883,483 | 5,512,155 | |||
| Less: scholarships | (120,744) | (120,744) | (133,886) | |||
| Less: bursaries | (189,898) | (189,898) | (216,862) | |||
| Less: other discounts | (124,092) | (124,092) | (109,187) | |||
| Grants | 123,927 | |||||
| Learning support |
60,894 | 60,894 | 25,643 | |||
| Coach fares | 251,233 | 251,233 | 189,290 | |||
| Canteen | 216,000 | 216,000 | 193,880 | |||
| Miscellaneous income |
14,448 | 14,448 | 17,688 | |||
| Hire offacilities | 4,442 | 4,442 | 1,050 | |||
| 5,448,749 | 547,017 | 5,995,766 | 5,603,698 | |||
| Grants received, included | in | the above, are as follows: | ||||
| 2022 | 2021 | |||||
| Government grant - Furlough |
scheme | 112,451 | ||||
| Hampshire County Council |
11,476 | |||||
| 123,927 | ||||||
| 6. | OTHER INCOME | |||||
| Other income | ||||||
| 2022 | 2021 | |||||
| Net gain on disposal oftangible fixed assets | 7,352 | 1,100 |
| Support | |||||
|---|---|---|---|---|---|
| Direct | costs (see | ||||
| Costs | note 8) | Totals | |||
| School operating | costs | 4,145,461 | 371,155 | 4,516,616 | |
| Welfare | costs | 331,585 | 29,686 | 361,271 | |
| Transport | costs | 272,933 | 24,436 | 297,369 | |
| Premises | 473,639 | 42,406 | 516,045 | ||
| 5,223,618 | 467,683 | 5,691,301 | |||
| SUPPORT COSTS | |||||
| General | |||||
| suppoit | Governance | ||||
| costs | costs | Totals | |||
| School operating | costs | 344,877 | 26,278 | 371,155 | |
| Welfare | costs | 27,585 | 2,101 | 29,686 | |
| Transport | costs | 22,706 | 1,730 | 24,436 | |
| Premises | 39,404 | 3,002 | 42,406 | ||
| 434,572 | 33111 | 467,683 |
| General support costs | ||||
|---|---|---|---|---|
| School | ||||
| operating | Welfare | Transport | ||
| costs | costs | costs | ||
| Wages | 184,390 | 14,749 | 12,140 | |
| Social security | 17,141 | 1,371 | 1,129 | |
| Pensions | 12,884 | 1,030 | 848 | |
| Telephone | 17,814 | 1,425 | 1173 | |
| Postage and stationery | 8,052 | 644 | 530 | |
| Other costs | 104,596 | 8,366 | 6,886 | |
| Bank loan arrangement | fees | |||
| 344,877 | 27,585 | 22,706 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Total | Total | |||||
| Premises | activities | activities | ||||
| Wages | 21,067 | 232,346 | 235,627 | |||
| Social security | 1,959 | 21,600 | 22,297 | |||
| Pensions | 1,472 | 16,234 | 15,893 | |||
| Telephone | 2,035 | 22,447 | 27,644 | |||
| Postage and stationery | 920 | 10,146 | 8,117 | |||
| Other costs | 11,951 | 131,799 | 112,145 | |||
| Bank loan | arrangement | fees | 21,037 | |||
| 39,404 | 434,572 | 442,760 | ||||
| Governance costs |
||||||
| School | ||||||
| operating | Welfare | Transport | ||||
| costs | costs | costs | ||||
| Auditors' | remuneration | 6,678 | 534 | 440 | ||
| Auditors' | remuneration | for non audit | work | 1,478 | 118 | 97 |
| Legal and | professional | fees | 18,122 | 1,449 | 1,193 | |
| 26,278 | 2,101 | 1,730 | ||||
| 2022 | 2021 | |||||
| Total | Total | |||||
| Premises | activities | activities | ||||
| Auditors' | remuneration | 763 | 8,415 | 11,300 | ||
| Auditors' | remuneration | for non audit | work | 169 | 1,862 | 2,909 |
| Legal and | professional | fees | 2,070 | 22,834 | 31,572 | |
| 3,002 | 33,111 | 45,781 | ||||
| NET INCOME/(EXPENDITURE) | ||||||
| Net income/(expenditure) | is stated after charging/(crediting): | |||||
| 2022 | 2021 | |||||
| Auditors' | remuneration | 8,415 | 11,300 | |||
| Auditors' | remuneration | for non audit | work | 1,862 | 2,909 | |
| Depreciation —owned assets |
111,101 | 146,734 | ||||
| Depreciation —assets on hire purchase |
contracts and finance leases | 1,735 | 1,741 | |||
| Surplus on disposal offixed assets | (7,352) | (1,100) | ||||
| Operating | lease charges | 206,949 | 207,336 |
| 2022 | 2021 | |
|---|---|---|
| SSellers | 90,431 | 87,335 |
| CTipper | 337 | |
| 90,768 | 87,335 |
| STAF | F COSTS | ||
|---|---|---|---|
| 2022 | 2021 | ||
| Wages | and salaries | 3,510,223 | 3,302,226 |
| Social | security costs | 307,369 | 295,761 |
| Other | pension costs | 245,253 | 221,011 |
| 4,062,845 | 3,818,998 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| FTE | FTE | |||
| Teaching | 56.1 | 57.6 | ||
| Teaching | support | 12.8 | 12.1 | |
| Grounds, | maintenance | and admin | 18.3 | 19.5 |
| Drivers and cleaners | 13.4 | 12.1 | ||
| 100.6 | 101.3 |
| The avera | ge monthly |
number ofemployees during the year |
was as follows: | |
|---|---|---|---|---|
| 2022 | 2021 | |||
| Teaching | 60 | 64 | ||
| Teaching | support | 23 | 17 | |
| Grounds, | maintenance | and admin | 24 | 24 |
| Drivers and Cleaners | 38 | 40 | ||
| 145 | 145 |
| 2022 | 2021 | ||
|---|---|---|---|
| f60,001 | —f.70,000 | 2 | 2 |
| f80,001 | - 690,000 | 1 | 1 |
| COMPAR | ATIVE | S FOR THE STATEMENT | OF FINANCIAL ACTIVITIES | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| fund | fund | funds | |||
| INCOME | FROM | ||||
| Donations | and legacies | 2,205 | 2,205 | ||
| Charitable | activities | ||||
| School fees receivable | 5,052,220 | 5,052,220 | |||
| Additional | school | activities | 427,551 | 427,551 | |
| Other | 123,927 | 123,927 | |||
| Investment | income | 77 | 77 | ||
| Other income | 1,100 | 1,100 | |||
| Total | 5,604,875 | 2,205 | 5,607,080 | ||
| EXPENDITURE | ON | ||||
| Charitable | activities | ||||
| School operating | costs | 3,956,650 | 2,205 | 3,958,855 | |
| Welfare costs | 283,202 | 283,202 | |||
| Transport | costs | 308,699 | 308,699 | ||
| Premises | 656,245 | 5,595 | 661,840 | ||
| Total | 5,204,796 | 7,800 | 5,212,596 |
| 13. | COMPARATIVES | FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||
| fund | fund | funds | ||||
| NET INCOME/(EXPENDITURE) | 400,079 | (5,595) | 394,484 | |||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought | forward | 1,568,753 | 25,760 | 1,594,513 | ||
| TOTAL FUNDS CARRIED FORWARD | 1,968,832 | 20,165 | 1,988,997 | |||
| 14. | TANGIBLE FIXED | ASSETS | ||||
| Freehold | Leasehold | |||||
| land and | land and | Plant and | ||||
| buildings | buildings | machinery | ||||
| COST | ||||||
| At 1 September 2021 | 5,270,793 | 271,205 | 172,183 | |||
| Additions | 4,438 | 11,000 | ||||
| Dispo sais | ||||||
| At 31August 2022 | 5,275,231 | 271,205 | 183,183 | |||
| DEPRECIATION | ||||||
| At 1 September 2021 | 273,747 | 148,540 | 155,036 | |||
| Charge for year | 49,613 | 4,747 | 7,309 | |||
| Eliminated on disposal |
||||||
| At 31August 2022 | 323,360 | 153,287 | 162,345 | |||
| NET BOOKVALUE | ||||||
| At 31August 2022 | 4,951,871 | 117,918 | 20,838 | |||
| At 31August 2021 | 4,997,046 | 122,665 | 17,147 |
| TANGIBLE FIXEDASSETS - continued | |||
|---|---|---|---|
| Fixtures, | |||
| fittings | |||
| and | Motor | ||
| equipment | vehicles | Totals | |
| COST | |||
| At 1 September 2021 | 982,526 | 177,516 | 6,874,223 |
| Additions | 30,888 | 46,326 | |
| Dispo sais | (20,050) | (20,050) | |
| At 31August 2022 | 1,013,414 | 157,466 | 6,900,499 |
| DEPRECIATION | |||
| At 1 September 2021 | 858,575 | 133,864 | 1,569,762 |
| Charge for year | 32,963 | 18,204 | 112,836 |
| Eliminated on disposal |
(20,050) | (20,050) | |
| At 31August 2022 | 891,538 | 132,018 | 1,662,548 |
| NET BOOKVALUE | |||
| At 31August 2022 | 121,876 | 25,448 | 5,237,951 |
| At 31August 2021 | 123,951 | 43,652 | 5,304,461 |
| Motor | |
|---|---|
| vehicles | |
| COST | |
| At 1 September 2021 and 31August 2022 | 8,703 |
| DEPRECIATION | |
| At 1 September 2021 | 6,968 |
| Charge for year | 1,735 |
| At 31August 2022 | 8,703 |
| NET BOOKVALUE | |
| At 31August 2022 | |
| At 31August 2021 | 1,735 |
| 15. | STOCKS | ||
|---|---|---|---|
| 2022 | 2021 | ||
| Stocks | 15,555 | 15,263 | |
| 16. | DEBTORS | ||
| 2022 | 2021 | ||
| Amounts falling due within one year: |
|||
| Trade debtors | 1,048,435 | 1,029,067 | |
| VAT | 6,190 | 3,461 | |
| Prepayments and accrued income |
62,208 | 37,562 | |
| 1,116,833 | 1,070,090 | ||
| Amounts falling due after more than one year: |
|||
| Other debtors | 12,500 | 12,500 | |
| Aggregate amounts |
1,129,333 | 1,082,590 | |
| During the year nil (2021 - K7,474) school fees were written offas bad debts. | |||
| 17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2022 | 2021 | ||
| Bank loans and overdrafls (see note 19) |
84,845 | 102,616 | |
| Other loans (see note 19) | 60,000 | 60,000 | |
| Trade creditors | 140,380 | 48,291 | |
| Social security and other taxes | 72,507 | 75,236 | |
| Accruals and deferred income | 178,936 | 172,941 | |
| Fees invoiced in advance | 1,481,464 | 1,428,440 | |
| Fees received in advance | 1,799,477 | 1,542,631 | |
| 3,817,609 | 3,430,155 |
| 2022 | 2021 | ||
|---|---|---|---|
| Bank loans | (see note 19) | 1,961,474 | 2,026,907 |
| Fees received in advance | 56,372 | 136,126 | |
| 2,017,846 | 2,163,033 | ||
| LOANS | |||
| An analysis | ofthe matiuity ofloans is given below: | ||
| 2022 | 2021 | ||
| Amounts falling due within one year on demand: |
|||
| Bank loans | 84,845 | 102,616 | |
| Other loans | 60,000 | 60,000 | |
| 144,845 | 162,616 | ||
| Amounts falling between one and two years: |
|||
| Bank loans | —1-2years | 87,131 | 112,426 |
| Amounts falling due between two and five years: |
|||
| Bank loans | —2-5 years | 278,154 | 287,268 |
| Amounts falling due in more than five years: |
|||
| Repayable | by instalments: | ||
| Bank loans | more 5 yr by instal | 1,596,189 | 1,627,213 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Within one year | 105,543 | 148,738 | ||
| Between one and five years | 101,407 | 203,970 | ||
| 206,950 | 352,708 | |||
| Leases ofland and buildings | are subject to periodic rental reviews. | |||
| ANALYSIS OF NET ASSETSBETWEEN FUNDS | ||||
| 2022 | 2021 | |||
| Unrestricted | Restricted | Total | Total | |
| fund | fund | funds | funds | |
| Fixed assets | 5,225,343 | 12,608 | 5,237,951 | 5,304,461 |
| Current assets | 2,900,035 | 848 | 2,900,883 | 2,277,724 |
| Current liabilities | (3,817,609) | (3,817,609) | (3,430,155) | |
| Long term liabilities | (2,017,846) | (2,017,846) | (2,163,033) | |
| 2,289,923 | 13,456 | 2,303,379 | 1,988,997 | |
| MOVEMENT IN FUNDS | ||||
| Net | ||||
| movement | At | |||
| At 1.9.21 | in funds | 31.8.22 | ||
| Unrestricted funds |
||||
| General fund | 1,968,832 | 321,091 | 2,289,923 | |
| Restricted funds | ||||
| Restricted fund |
20,165 | (6,709) | 13,456 | |
| TOTALFUNDS | 1,988,997 | 314,382 | 2,303,379 |
| Net movement in funds, included |
Net movement in funds, included |
Net movement in funds, included |
in the above | are as follows: | ||
|---|---|---|---|---|---|---|
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| Unrestricted funds |
||||||
| General fund | 6,004,466 | (5,683,375) | 321,091 | |||
| Restricted funds | ||||||
| Restricted fund |
1,217 | (7,926) | (6,709) | |||
| TOTALFUNDS | 6,005,683 | (5,691,301) | 314,382 | |||
| Comparatives for movement |
in | funds | ||||
| Net | ||||||
| movement | At | |||||
| At 1.9.20 | in funds | 31.8.21 | ||||
| Unrestricted funds |
||||||
| General fund | 1,568,753 | 400,079 | 1,968,832 | |||
| Restricted funds | ||||||
| Restricted fund |
25,760 | (5,595) | 20,165 | |||
| TOTALFUNDS | 1,594,513 | 394,484 | 1,988,997 | |||
| Comparative net movement |
in | funds, included | in the above are as follows: | |||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| Unrestricted funds |
||||||
| General fund | 5,604,875 | (5,204,796) | 400,079 | |||
| Restricted funds | ||||||
| Restricted fund |
2,205 | (7,800) | (5,595) | |||
| TOTAL FUNDS | 5,607,080 | (5,212,596) | 394,484 |
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.20 | in funds | 31.8.22 | |
| Unrestricted funds |
|||
| General fund | 1,568,753 | 721,170 | 2,289,923 |
| Restricted funds | |||
| Restricted fund |
25,760 | (12,304) | 13,456 |
| TOTAL FUNDS | 1,594,513 | 708,866 | 2,303,379 |
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| Unrestricted funds |
|||
| General fund | 11,609,341 | (10,888,171) | 721,170 |
| Restricted funds | |||
| Restricted fund |
3,422 | (15,726) | (12,304) |
| TOTAL FUNDS | 11,612,763 | (10,903,897) | 708,866 |