**REGISTERED CHARITY NUMBER: 1092273**
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2021
for
New Maranatha Christian School Trust
Chris Vaughan Accountants 195 Ermin Street Swindon Wiltshire SN3 4NA
New Maranatha Christian School Trust
Contents of the Financial Statements for the Year Ended 31 August 2021
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|2|
|Independent Examiner's Report||3||
|Statement of Financial Activities||4||
|Balance Sheet||5||
|Notes to the Financial Statements|6|to|12|
|Detailed Statement of Financial Activities|13|to|14|
New Maranatha Christian School Trust
## Report of the Trustees
## for the Year Ended 31 August 2021
The trustees present their report with the financial statements of the charity for the year ended 31 August 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The charity's principal activities comprise the advancement of education for children between the ages of 3 and 18 years together with the provision of adult education classes promoting the Christian Faith, in particular by the provision of a School or Schools based on Christian principles, values and doctrines.
## **Public benefit**
Our vision is to be the school of choice for Christian parents who want their children to achieve academic and vocational excellence, developing Godly character and a Biblical worldview in an affordable, loving Christian environment. Therefore we want our school to be accessible to families and students from all walks of life. This means that our fees structure is at a level which makes education affordable. However the school is aware that even some families may have difficulty in paying some or the majority of the fees, as such it provides bursaries for children whose families are unable to meet the full costs of their education. By providing a fully rounded education to a high standard the school is able to ensure each student fulfils the potential they have been given, in turn, enabling them to make a useful contribution to society as a whole.
The bursary fund assists in meeting the public benefit requirement by providing funds for less advantaged students.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
During the period covered by these accounts Mr. Thomas Price acted as both interim Head Teacher and then through an open interview process was successful in being appointed permanent Head from November 2020.
The School remains part of the Independent Schools Association (ISA) which is affiliated with the Independent Schools Inspectorate (ISI) and with that subject to their inspection regime. Despite the ongoing challenges of COVID and the effects upon the school, both in terms of lockdowns and staff shortages the school was able to successfully see another cohort of GCSE students graduate with 100% A - C grades and 81% of these grades were A or above. Our core curriculum was delivered both in class and remotely during the reporting period. The curriculum we offer is designed with home schooling in mind and it was therefore easier for our students to continue their education in this context with support from staff in the school.
We continued to operate our Early Years setting successfully with growing numbers of children in this part of the school. We added a new member of staff to the team.
The school has for the first time in its history offered apprenticeships and in this reporting year welcomed 2 new apprentices.
At the end of this reporting period we had just over 69 pupils registered at the school, but a number of new students were in the process of enrolling for the new academic year, which will be reflected in next year's report. There were no changes to the Trustees during the period of this report.
The school has found it challenging to meet all of the needs that have arisen in terms of finance, but we give thanks to God for the contribution of the parents and those who are friends of the school, as well as a significant grant contribution that has helped us to offer bursaries to various families who were unable to afford the full school fees.
We now employ a part time SENCO to help the school improve the offering it makes to students with SEND.
## **FUTURE PLANS**
The School is in the process of fulfilling its vision to expand the school beyond its current physical and numerical limitations. Our aim is grow the numbers at the school over the next 2 years to 150 pupils. We are working more closely with Churches in Swindon to raise the profile of the school and to make it more accessible to families that desire the level of educational support that we can offer. We are also looking to explore opportunities to expand to a second site and are very much looking to God to open a door in this regard. We are also embarking on an ambitious plan to upskill our staff, with 3 members enrolled on an apprenticeship to gain their QTS qualification by March 2023 and a further 2 apprentices in training as either TAs or Admin assistants.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust drawn up on on 10th May 2002.
1
New Maranatha Christian School Trust
## Report of the Trustees
## for the Year Ended 31 August 2021
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees**
The trustees are appointed at general meetings of the charity.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1092273
## **Principal address**
Queenlaines Farm Sevenhampton Wiltshire SN6 7SQ
## **Trustees**
L Morava D Perrott H W Storm B Pike N Frost (appointed 12.10.20)
## **Independent Examiner**
Chris Vaughan Accountants 195 Ermin Street Swindon Wiltshire SN3 4NA
## **Advisers**
Bankers
The charity's bankers are Lloyds TSB PLC, 5 High Street, Swindon, Wiltshire.
Approved by order of the board of trustees on 12 April 2022 and signed on its behalf by:
L Morava - Trustee
2
Independent Examiner's Report to the Trustees of New Maranatha Christian School Trust
## **Independent examiner's report to the trustees of New Maranatha Christian School Trust**
I report to the charity trustees on my examination of the accounts of New Maranatha Christian School Trust (the Trust) for the year ended 31 August 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Christopher Vaughan Institute of Chartered Accountants in England and Wales Chris Vaughan Accountants 195 Ermin Street Swindon Wiltshire SN3 4NA
12 April 2022
3
New Maranatha Christian School Trust
## Statement of Financial Activities
## for the Year Ended 31 August 2021
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
76,794
**Charitable activities**
Education
222,063
Investment income
2
4
Other income
2,252
**Total**
301,113
**EXPENDITURE ON**
**Charitable activities**
Education
386,818
**NET INCOME/(EXPENDITURE)**
(85,705)
**Transfers between funds**
11
42,594
**Net movement in funds**
(43,111)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
3,451
**TOTAL FUNDS CARRIED FORWARD**
(39,660)|Restricted
funds
£
6,795
-
1
-
6,796
309
6,487
(42,594)
(36,107)
37,032
925|31.8.21
Total
funds
£
83,589
222,063
5
2,252
307,909
387,127
(79,218)
-
(79,218)
40,483
(38,735)|31.8.20
Total
funds
£
52,814
235,530
22
116
288,482
292,945
(4,463)
-
(4,463)
44,946
40,483|
|---|---|---|---|
The notes form part of these financial statements
4
New Maranatha Christian School Trust
## Balance Sheet
## 31 August 2021
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
6
4,228
**CURRENT ASSETS**
Stocks
7
10,000
Debtors
8
1,438
Cash at bank and in hand
69,106
80,544
**CREDITORS**
Amounts falling due within one year
9
(124,432)
**NET CURRENT ASSETS/(LIABILITIES)**
(43,888)
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
(39,660)
**NET ASSETS**
(39,660)
**FUNDS**
11
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
925
-
-
-
-
-
-
925
925|31.8.21
Total
funds
£
5,153
10,000
1,438
69,106
80,544
(124,432)
(43,888)
(38,735)
(38,735)
(39,660)
925
(38,735)|31.8.20
Total
funds
£
6,871
10,000
1,157
82,250
93,407
(59,795)
33,612
40,483
40,483
3,451
37,032
40,483|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 12 April 2022 and were signed on its behalf by:
L Morava - Trustee
The notes form part of these financial statements
5
New Maranatha Christian School Trust
Notes to the Financial Statements
for the Year Ended 31 August 2021
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance Motor vehicles - 25% on reducing balance School equipment - 25% on reducing balance
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
6
continued...
New Maranatha Christian School Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
## **2. INVESTMENT INCOME**
Deposit account interest
**----- Start of picture text -----**
31.8.21 31.8.20
£ £
5 22
**----- End of picture text -----**
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
## **4. STAFF COSTS**
The average monthly number of employees during the year was as follows:
## **5.**
|Teaching
Administration
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
16,200
**Charitable activities**
Education
235,530
Investment income
13
Other income
116
**Total**
251,859
**EXPENDITURE ON**
**Charitable activities**
Education
270,485
**NET INCOME/(EXPENDITURE)**
(18,626)
**Transfers between funds**
29,667
**Net movement in funds**
11,041
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
(7,590)|31.8.21
9
1
10
Restricted
funds
£
36,614
-
9
-
36,623
22,460
14,163
(29,667)
(15,504)
52,536|31.8.20
9
1
10
Total
funds
£
52,814
235,530
22
116
288,482
292,945
(4,463)
-
(4,463)
44,946|
|---|---|---|
continued...
7
New Maranatha Christian School Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
||||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
||||||fund|funds|funds|
||||||£|£|£|
||**TOTAL FUNDS CARRIED FORWARD**||||3,451|37,032|40,483|
|**6.**|**TANGIBLE FIXED ASSETS**|||||||
|||Fixtures||||||
|||and|||Motor|School||
|||fittings|||vehicles|equipment|Totals|
|||£|||£|£|£|
||**COST**|||||||
||At 1 September 2020 and 31 August 2021|1,956|||10,587|39,289|51,832|
||**DEPRECIATION**|||||||
||At 1 September 2020|1,922|||9,615|33,424|44,961|
||Charge for year|||9|243|1,466|1,718|
||At 31 August 2021|1,931|||9,858|34,890|46,679|
||**NET BOOK VALUE**|||||||
||At 31 August 2021||25||729|4,399|5,153|
||At 31 August 2020||34||972|5,865|6,871|
|**7.**|**STOCKS**|||||||
|||||||31.8.21|31.8.20|
|||||||£|£|
||Stocks|||||10,000|10,000|
|**8.**|**DEBTORS: AMOUNTS FALLING DUE**|**WITHIN ONE YEAR**||||||
|||||||31.8.21|31.8.20|
|||||||£|£|
||Prepayments|||||1,438|1,157|
continued...
8
New Maranatha Christian School Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Bank loans and overdrafts (see note 10)
Trade creditors
Taxation and social security
Other creditors
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
**MOVEMENT IN FUNDS**
Net
movement
At 1.9.20
in funds
£
£
**Unrestricted funds**
General fund
3,451
(85,705)
**Restricted funds**
Bursary
13,288
6,796
School Equipment
1,557
(239)
Library
82
-
School Uniform Fund
1,251
-
Capital Projects
6,633
-
Computer Suite
965
-
School Development Fund
(11)
(70)
Curriculum fund
12,400
-
Locker Fund
567
-
Keyboard
300
-
37,032
6,487
**TOTAL FUNDS**
40,483
(79,218)|31.8.21
£
-
113,145
9,149
2,138
124,432
31.8.21
£
-
Transfers
between
funds
£
42,594
(20,084)
(604)
(82)
(1,251)
(6,633)
(965)
292
(12,400)
(567)
(300)
(42,594)
-|31.8.20
£
292
56,609
2,090
804
59,795
31.8.20
£
292
At
31.8.21
£
(39,660)
-
714
-
-
-
-
211
-
-
-
925
(38,735)|
|---|---|---|
## **10. LOANS**
## **11. MOVEMENT IN FUNDS**
continued...
9
New Maranatha Christian School Trust
## Notes to the Financial Statements - continued for the Year Ended 31 August 2021
## **11. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Bursary
School Equipment
School Development Fund
**TOTAL FUNDS**|Incoming
resources
£
301,113
6,796
-
-
6,796
307,909|Resources
Movement
expended
in funds
£
£
(386,818)
(85,705)
-
6,796
(239)
(239)
(70)
(70)
(309)
6,487
(387,127)
(79,218)|
|---|---|---|
## **Comparatives for movement in funds**
|||Net|Transfers||
|---|---|---|---|---|
|||movement|between|At|
||At 1.9.19|in funds|funds|31.8.20|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|(7,590)|(18,626)|29,667|3,451|
|**Restricted funds**|||||
|Bursary|33,074|(19,786)|-|13,288|
|School Equipment|1,908|(351)|-|1,557|
|Library|82|-|-|82|
|School Uniform Fund|1,251|-|-|1,251|
|Capital Projects|6,633|-|-|6,633|
|Computer Suite|965|-|-|965|
|Early Years Development|2,473|27,194|(29,667)|-|
|School Development Fund|83|(94)|-|(11)|
|Curriculum fund|6,000|6,400|-|12,400|
|Locker Fund|67|500|-|567|
|Keyboard|-|300|-|300|
||52,536|14,163|(29,667)|37,032|
|**TOTAL FUNDS**|44,946|(4,463)|-|40,483|
continued...
10
New Maranatha Christian School Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
## **11. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Bursary
School Equipment
Early Years Development
School Development Fund
Curriculum fund
Locker Fund
Keyboard
**TOTAL FUNDS**|Incoming
resources
£
251,859
2,229
-
27,194
-
6,400
500
300
36,623
288,482|Resources
Movement
expended
in funds
£
£
(270,485)
(18,626)
(22,015)
(19,786)
(351)
(351)
-
27,194
(94)
(94)
-
6,400
-
500
-
300
(22,460)
14,163
(292,945)
(4,463)|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|||Net|Transfers||
|---|---|---|---|---|
|||movement|between|At|
||At 1.9.19|in funds|funds|31.8.21|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|(7,590)|(104,331)|72,261|(39,660)|
|**Restricted funds**|||||
|Bursary|33,074|(12,990)|(20,084)|-|
|School Equipment|1,908|(590)|(604)|714|
|Library|82|-|(82)|-|
|School Uniform Fund|1,251|-|(1,251)|-|
|Capital Projects|6,633|-|(6,633)|-|
|Computer Suite|965|-|(965)|-|
|Early Years Development|2,473|27,194|(29,667)|-|
|School Development Fund|83|(164)|292|211|
|Curriculum fund|6,000|6,400|(12,400)|-|
|Locker Fund|67|500|(567)|-|
|Keyboard|-|300|(300)|-|
||52,536|20,650|(72,261)|925|
|**TOTAL FUNDS**|44,946|(83,681)|-|(38,735)|
continued...
11
New Maranatha Christian School Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
## **11. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Bursary
School Equipment
Early Years Development
School Development Fund
Curriculum fund
Locker Fund
Keyboard
**TOTAL FUNDS**|Incoming
resources
£
552,972
9,025
-
27,194
-
6,400
500
300
43,419
596,391|Resources
Movement
expended
in funds
£
£
(657,303)
(104,331)
(22,015)
(12,990)
(590)
(590)
-
27,194
(164)
(164)
-
6,400
-
500
-
300
(22,769)
20,650
(680,072)
(83,681)|
|---|---|---|
## **12. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 August 2021.
## **13. RESTRICTED FUNDS**
The charity's restricted funds have the following purposes -
- (i) Bursary Fund
Provision for assistance with school fees for disadvantaged students.
- (ii) Library Fund
Provision for books for the school library.
- (iii) School Uniform Fund
Provision fort financial assistance for the acquisition of school uniforms.
- (iv) School Equipment Fund
Funds made available for the provision of school equipment.
- (v) Computer Suite
Funds provided to install a suite of computers within the school.
- (vi) Curriculum Fun
Fund to finance the purchase of curricula.
- (vii) Capital Projects
Fund to cover resurfacing and renovation of playground.
- (viii) Early Years Development Fund Funds utilised to provide school facilities for early years students.
- (ix) School Development Fund Resources employed for improving and developing the school premises.
- (x) Locker Fund
Funds collected to instal lockers for students.
12
New Maranatha Christian School Trust
Detailed Statement of Financial Activities for the Year Ended 31 August 2021
|Detailed Statement of Financial Activities
for the Year Ended 31 August 2021|||
|---|---|---|
||31.8.21|31.8.20|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Gifts|34,369|25,619|
|Grants|16,299|-|
|Grant -Swindon Borough Council|32,921|27,195|
||83,589|52,814|
|**Investment income**|||
|Deposit account interest|5|22|
|**Charitable activities**|||
|School fees|222,063|209,195|
|Grants receivable|-|26,335|
||222,063|235,530|
|**Other income**|||
|Miscellaneous income|2,252|116|
|**Total incoming resources**|307,909|288,482|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Wages|292,405|191,393|
|Accommodation costs|21,263|20,069|
|Insurance|3,684|3,265|
|Sundries|12,351|14,419|
|Curriculum|10,285|9,199|
|Motor expenses|1,650|1,314|
|Donations and gifts|10,000|22,015|
|School sports facility|-|880|
|School trips|2,336|352|
|Examination fees|12,461|14,899|
||366,435|277,805|
|**Support costs**|||
|**Management**|||
|Office expenses|16,328|11,100|
|Accountancy|834|804|
|Legal and professional fees|1,704|750|
|Depreciation of tangible and heritage assets|1,718|2,325|
||20,584|14,979|
|**Finance**|||
|Bank charges|108|161|
This page does not form part of the statutory financial statements
13
New Maranatha Christian School Trust
|Detailed Statement of Financial Activities|||
|---|---|---|
|for the Year Ended 31 August 2021|||
||31.8.21|31.8.20|
||£|£|
|Total resources expended|387,127|292,945|
|**Net expenditure**|(79,218)|(4,463)|
This page does not form part of the statutory financial statements
14