2021-08-31-accounts

Report ofthe Governing	Report ofthe Governing	Body	1-8
Independent Auditor's		report	9-12
Principal accounting	policies		13-16
Statement offinancial		activities	17
Balance sheet			18
Cash flow statement			19
Notes to the financial	statements		20-28

The Head	Dr SJEssex
Director ofFinance R	Ms KDennett
Resources
Address	The Pilgrims'	School
	3 The Close
	Winchester
	Hampshire
	SO23 9LT
Bankers	National Westminster		Bank pic
	105High Street
	Winchester
	Hampshire
	SO23 9AW
	Lloyds Bank Plc
	Black Horse House
	Jacobs Yard
	London Street
	Basingstoke
	Hampshire
	RG21 7NT
Solicitors	Godwins
	12StThomas	Street
	Winchester
	Hampshire
	SO23 9HF
	Blake Morgan
	New Kings Court
	Tollgate
	Chandler's Ford
	Eastleigh
	Hampshire
	SO53 3LG
Auditors	Mazars LLP
	5+Floor, Merck House
	Seldown Lane
	Poole
	Dorset
	BH15 1TW

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	Funds
		Note	2021	2021	2021	2020
Incoming resources
Income I'rom chari table	activities
Fees receivable		1	4,675,378		4,675,378	4,681,012
Other School income		2	137,716		137,716	227,377
Income from generated	funds
Grants and donations			11,400	12,500	23,900	7,822
Activities forlenerati nIfunds:
Hire ofpremises			1,625		17625	4,856
Bank interest receivable			168	1,811	1,979	4,250
Total incoming resources			4,826,287	14,311	4,840,598	4,925,317
Resources expended
Charitable acti vities
School operating costs			4,922,288	4,513	4,926,801	5,142,841
Costs ofgenerating funds
Fundraising for voluntary	income		37,795		37,795	39,694
School financing costs		5	8,874		87874	10,743
Total resources expended		6	4,968,957	4,513	4,973,470	5,193,278
Net (outgoing)/incoming
resources			(1427670)	97798	(132,872)	(267,961)
Transfers between funds
Net movement in funds	for the year		(142,670)	9,798	(132,872)	(267,961)
Balances brought forward
at 1 September 2020			4,124,528	86,698	4,211,226	4,479,187
Balances carried forward
at 31August 2021			3,981,858	96,496	4,078,354	4,211,226

			Note	2021	2020
Fixed assets
Tangible assets			8	3,918,454	3,986,772
Current assets
Stocks			9	3,473	4,846
Debtors			10	1,169,437	1,727,395
Cash at bank	and in	hand		174857940	883,100
				2,658,850	2,615,341
Creditors: amounts		falling due within one year	11	(2,216,220)	(2,109,761)
Net current	assets			442,630	505,580
Total assets	less current liabilities			4,361,084	4,492,352
Creditors: amounts		falling due after more than one year	12	(282,730)	(281,126)
Net assets				4,078,354	4,211,226
Funds
Unrestricted	funds:	General reserve	13	3,981,858	4,124,528
Restricted funds			14	96,496	86,698
				4,078,354	4,211,226

				2021	2020
Cash flows from operating			activities
Net movement in funds				(132,872)	(267,961)
Adjustments for:
Depreciation oftangible	assets			192,501	187,576
Interest payable				47432	7,872
Interest receivable				(168)	(4,250)
Decrease/(increase) in debtors				557,954	(122,663)
Decrease in stocks				17373	1,773
Increase/(Decrease) in creditors				99,363	(368,445)
Profit on sale offixed assets				(400)
Net cash (absorbed by)/generated				722,183	(566,098)
from operating activities
Cash flows from investing		activities
Purchase oftangible assets				(124,183)	(140,895)
Interest received				168	4,250
Proceeds from sale offixed		assets		400
Net cash outflow from investing activities				(123,615)	(136,645)
Cash flows from financing			activities
Repayment ofbank loans				(41,296)	(162,887)
New loan raised				50,000
Interest paid				(4,432)	(7,872)
Net cash outflow from financing
activities				4,272	(170,759)
Net increase/(decrease)		in	cash at bank
and in hand				602,840	(873,502)
Cash at bank and in hand at the beginning
ofyear				883,100	1,756,602
Cash at bank and in hand				1,485,940	883,100
Net cash
Cash at bank and in hand				1,485,940	883,100
Bank loans due within one		year		(172,215)	(165,114)
Bank loans due after one year				(282,730)	(281,126)
				1,030,995	436,860

				2021	2020
Dayboys				2,478,824	273607996
Boarders				1,091,382	1,272,434
Pre-Prep				3217070	4027000
Choristers				507,617	445,105
Quiristers				390,987	337,288
Sundry fee income				147625	17220
Gross fees receivable				4,804,505	478197043
Less:
Bursaries				(134,434)	(143,115)
				4,670,071	4,675,928
Disbursements	(net)			730	324
Fees remission	scheme commission			64	76
				4,670,865	4,676,328
Add: Bursaries	from restricted		funds	4,513	4,684
				4,675,378	4,681,012
Other School	income
				2021	2020
Coronavirus Job Retention		Scheme		60,912	182,857
Learning support				17,063	16,860
Holiday sports	courses			10,260	8,655
Choir time and	expenses recharged			7,666	7,050
Registration fees				11,696	8,105
Deposits forfeited				2,000	1,850
Music facility charge				1,205	301
Sundry income				26,914	1,699
				137,716	227,377

Staff costs
		2021	2020
Wages and salaries		2,668,806	2,742,191
Social security costs		256,124	269,858
Pension contributions		399,960	409,243
		3,324,890	3,421,292
The average number ofemployees	in the year was:
		2021	2020
		Number	Number
Teaching		54	58
Domestic/welfare		36	35
Administration		10	10
		100	103

	2021	2020
	Number	Number
$60,001to $70,000	1	1
$70,001 to $80,000	1
$90,001to $100,000	1
$100,001to $110,000

					2021	2020
Auditors'	remuneration:		statutory	audit services	107527	9,702
Other professional		fees			45,438	138,224
Liability	insurance				117602	10,997
					67,567	158,923

School financing	costs
					2021	2020
Bank loan interest					47432	7,872
Other interest and	similar charges	payable			4,442	2,871
					87874	10,743
Analysis oftotal	resources	expended
	Staffcosts	Other	2021	Staff costs	Other	2020
Charitable
activities
School
operating costs:
Teaching costs	2,384,293	148,720	2,533,013	2,468,073	186,237	2,654,310
Welfare costs	377,740	2557506	6337246	366,888	251,861	618,749
Premises	232,647	1,039,707	1,272,354	230,063	895,580	1,125,643
Support costs ofschooling	3307210	85,898	416,108	356,268	224,152	580,420
Grants awards and prizes		4,513	4,513		4,796	4,796
Governance costs		67,567	67,567		158,923	158,923
	3,324,890	1,601,911	4,926,801	3,421,292	1,721,549	5,142,841
Costs of
generating
funds
Fundraising costs		37~795	37~795		39,694	39,694
Finance costs		8,874	8,874		10,743	10,743
	3,324,890	1,648,580	4,973,470	3,421,292	1,771,986	5,193,278

Net incoming resources	Net incoming resources	Net incoming resources
This is stated after charging:			2021	2020
Costs of	Coronavirus	pandemic	19,730	21,274
Profit on	sale offixed	assets	400
Depreciation oftangible fixed assets			192,501	187,576
Auditors	remuneration	—audit services	10,527	9,702
Operating	lease rentals	—land and btnldings	2107065	209,711

Tangible fixed assets
		Long
	School	leasehold		Motor
	buildings	property	Equipment	vehicles	Total
Cost
At 1 September 2020	4,937,287	50,930	1,134,334	70,335	6,192,886
Additions			113,881	10,302	124,183
Disposals				(11,456)	(11,456)
At 31August 2021	4,937,287	50,930	1,248,215	69,181	6,305,613
Depreciation
At 1 September 2020	1,408,673		730,706	66,735	2,206,114
Charge for the year	102,002		86,555	3,944	192,501
On disposals				(11,456)	(11,456)
At 31August 2021	1,510,675		817,261	59,223	2,387,159
Net book value at
31August 2021	3,426,612	50,930	430,954	9,958	3,918,454
Net book value at
31August 2020	3,528,614	50,930	403,628	3,600	3,986,772

10	Debtors
						2021	2020
	Fees					1,119,814	1,647,008
	Others					49,623	80,387
						1,169,437	1,727,395
11	Creditors: amounts falling			due within one year
						2021	2020
	Bank loan					165,548	165,114
	Bounce Backloan					6,667
	Amounts owing to	suppliers				48,100	17,165
	Payroll taxes and deductions					244	70,138
	Fees invoiced in advance					176377260	1,521,924
	Pupil deposits					132,130	124,558
	Other creditors					637674	43,822
	Accruals					162,597	167,040
						2,216,220	2,109,761
	Analysis of deferred income:
						2021	2020
	Deferied income at 1 September			2020		1,521,924	1,671,100
	Resources deferred	during	the year			176377260	1,521,924
	Amounts released from previous			years		(1,521,924)	(1,671,100)
	Deferred income at 31August 2021					176377260	1,521,924
12	Creditors: amounts falling			due after more than one year
						2021	2020
	Bank loan					239,397	281,126
	Bounce Backloan					43,333
						282,730	281,126
	Included within the	above are amounts			falling due as follow. s:
						2021	2020
	Bank loans
	Between one and two years					172,215	166,848
	Between two and five years					1077182	114,278
	Over five years					37333

	General
	reserve
At 1 September 2020	4,124,528
Incoming resources	4,826,287
Resources expended	(4,968,957)
At 31August 2021	379817858

Restricted funds
	The Gavin Roynon
	Chorister Bursary	Prizes
	Fund	Fund	Total
At 1 September 2020	84,726	1,972	86,698
Incoming resources
— Donations	12,500		12,500
— Interest received	1,811		1,811
Resources
expended
— Bursaries and prizes	(4,513)		4,513
At 31August 2021	94,524	17972	967496

	Tangible
	fixed	Current	Current	Long-term
	assets	assets	liabilities	liabilities	Total
General fund	3,918,454	2,562,354	(2,216,220)	(282,730)	3,981,858
Restricted funds		96,496			96,496
	3,918,454	2,658,850	(2,216,220)	(282,730)	4,078,354
Prior year
	Tangible
	fixed	Current	Current	Long-term
	assets	assets	liabilities	liabilities	Total
General fund	3,986,772	2,528,643	(2,109,761)	(281,126)	4,124,528
Restricted funds		86,698			86,698
	3,986,772	2,615,341	(2,109,761)	(281,126)	4,211,226

		Land and	buildings
		2021	2020
Non-cancellable	lease commitments:
Within 1 year		181,990	208,465
Between 2 and 5 years		668,220	672,235
After more than 5 years		23,400	178,425