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2022-08-31-accounts

REGISTERED CHARITY NUMBER: 1092273

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 August 2022

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 2022

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

New Maranatha Christian School Trust

Report of the Trustees

for the Year Ended 31 August 2022

The trustees present their report with the financial statements of the charity for the year ended 31 August 2022. 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 of this report, I am pleased to report that the school grew in numbers from 69 to 84 pupils. As a result of this we have needed to add more staff.

We have been developing our curriculum to reflect a move towards a blended learning approach that incorporates our focus on making use of the Accelerated Christian Education materials alongside a teacher led approach to learning in the wider subjects, as well as reinforcing the core such as Maths and English.

Our three teaching apprentices have made good progress during the year and are all due to finish their teaching qualifications via Bradford College in the 2022/23 academic year. Our TAs likewise are all scheduled to complete their apprenticeships in a similar timescale, enabling us to upskill considerably the teaching quality of the school, this has been reflected in the growing interest in the school, we are nearing our full capacity in terms of student numbers. Our exam results this year were less than we had hoped for, with a specific issue in the Art results. We will be appealing these results as they are so unusual and unexpected. This year for the first time in 4 years we failed to gain 100% pass marks for A-C grades at GCSE level across the board. We will be focusing on how we can improve on these results going forward.

There were no changes in the Trustees during this reporting period.

The school remains part of the Independent Schools Association (ISA) which is affiliated to the Independent Schools Inspectorate (ISI) and with that subject to their inspection regime. We were not inspected by ISI during this period but expect a visit in the 2022/23 academic calendar.

Finally, the school continues to operate within a tight financial regime. Our desire to improve the quality of teaching is impacting on our finances and we are working hard to maintain our financial viability with help from a couple of significant grants that we received during the year to help us.

FUTURE PLANS

Our ambition remains clear to grow the school beyond its current limitations and to enable it to become the clear school of choice for Christian parents who want their children to achieve academic and vocational excellence in the context of a godly environment that seeks to build character and faith in Jesus Christ. We enjoy a good relationship with the parents of our students, and we will continue to work towards growing the connection between us.

There is a significant threat to our work in the form of the proposed addition of VAT should the Labour party be elected to govern. They have made it a key part of their proposed legislation intentions and along with many other smaller Independent Schools whose fees are low we are vulnerable to this significant increase in our costs.

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 2022

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 H W Storm B Pike N Frost

D Perrott resigned as a Trustee in July 2022.

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 24 May 2023 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 2022.

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

24 May 2023

3

New Maranatha Christian School Trust

Statement of Financial Activities

for the Year Ended 31 August 2022

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
97,006
Charitable activities
Education
305,479
Investment income
2
4
Other income
7,685
Total
410,174
EXPENDITURE ON
Charitable activities
Education
405,190
NET INCOME/(EXPENDITURE)
4,984
RECONCILIATION OF FUNDS
Total funds brought forward
(39,660)
TOTAL FUNDS CARRIED FORWARD
(34,676)		 Restricted
funds
£
3,870
-
-
-
3,870
4,102
(232)
925
693		 31.8.22
Total
funds
£
100,876
305,479
4
7,685
414,044
409,292
4,752
(38,735)
(33,983)		 31.8.21
Total
funds
£
83,589
222,063
5
2,252
307,909
387,127
(79,218)
40,483
(38,735)

The notes form part of these financial statements

4

New Maranatha Christian School Trust

Balance Sheet

31 August 2022

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
6
3,171
CURRENT ASSETS
Stocks
7
10,000
Debtors
8
2,387
Cash at bank and in hand
23,089
35,476
CREDITORS
Amounts falling due within one year
9
(73,323)
NET CURRENT ASSETS/(LIABILITIES)
(37,847)
TOTAL ASSETS LESS CURRENT
LIABILITIES
(34,676)
NET ASSETS/(LIABILITIES)
(34,676)
FUNDS
10
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
693
-
-
-
-
-
-
693
693		 31.8.22
Total
funds
£
3,864
10,000
2,387
23,089
35,476
(73,323)
(37,847)
(33,983)
(33,983)
(34,676)
693
(33,983)		 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)

The financial statements were approved by the Board of Trustees and authorised for issue on 24 May 2023 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 2022

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.

continued...

6

New Maranatha Christian School Trust

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

2. INVESTMENT INCOME

INVESTMENT INCOME
31.8.22 31.8.21
£ £
Deposit account interest 4 5

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.

4. STAFF COSTS

The average monthly number of employees during the year was as follows:


Teaching
Administration		 31.8.22

13
2
15		 31.8.21
9
1
10

No employees received emoluments in excess of £60,000.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
76,794
Charitable activities
Education
222,063
Investment income
4
Other income
2,252
Total
301,113
EXPENDITURE ON
Charitable activities
Education
386,818
NET INCOME/(EXPENDITURE)
(85,705)
Transfers between funds
42,594
Net movement in funds
(43,111)
RECONCILIATION OF FUNDS
Total funds brought forward
3,451		 Restricted
funds
£
6,795
-
1
-
6,796
309
6,487
(42,594)
(36,107)
37,032		 Total
funds
£
83,589
222,063
5
2,252
307,909
387,127
(79,218)
-
(79,218)
40,483

continued...

7

New Maranatha Christian School Trust

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund funds funds
£ £ £
TOTAL FUNDS CARRIED FORWARD (39,660) 925 (38,735)
6. TANGIBLE FIXED ASSETS
Fixtures
and Motor School
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 September 2021 and 31 August 2022 1,956 10,587 39,289 51,832
DEPRECIATION
At 1 September 2021 1,931 9,858 34,890 46,679
Charge for year 6 183 1,100 1,289
At 31 August 2022 1,937 10,041 35,990 47,968
NET BOOK VALUE
At 31 August 2022 19 546 3,299 3,864
At 31 August 2021 25 729 4,399 5,153
7. STOCKS
31.8.22 31.8.21
£ £
Stocks 10,000 10,000
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.22 31.8.21
£ £
Prepayments 2,387 1,438

continued...

8

New Maranatha Christian School Trust

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Taxation and social security
Other creditors		 31.8.22
£
67,816
4,655
852
73,323		 31.8.21
£
113,145
9,149
2,138
124,432

10. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
School Equipment
School Development Fund
TOTAL FUNDS
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		 At 1.9.21
£
(39,660)
714
211
925
(38,735)
Incoming
resources
£
410,174
3,870
-
-
3,870
414,044		 Net
movement
At
in funds
31.8.22
£
£
4,984
(34,676)
(179)
535
(53)
158
(232)
693
4,752
(33,983)
Resources
Movement
expended
in funds
£
£
(405,190)
4,984
(3,870)
-
(179)
(179)
(53)
(53)
(4,102)
(232)
(409,292)
4,752

continued...

9

New Maranatha Christian School Trust

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
movement between At
At 1.9.20 in funds funds 31.8.21
£ £ £ £
Unrestricted funds
General fund 3,451 (85,705) 42,594 (39,660)
Restricted funds
Bursary 13,288 6,796 (20,084) -
School Equipment 1,557 (239) (604) 714
Library 82 - (82) -
School Uniform Fund 1,251 - (1,251) -
Capital Projects 6,633 - (6,633) -
Computer Suite 965 - (965) -
School Development Fund (11) (70) 292 211
Curriculum fund 12,400 - (12,400) -
Locker Fund 567 - (567) -
Keyboard 300 - (300) -
37,032 6,487 (42,594) 925
TOTAL FUNDS 40,483 (79,218) - (38,735)

Comparative 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)

continued...

10

New Maranatha Christian School Trust

Notes to the Financial Statements - continued

for the Year Ended 31 August 2022

10. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1.9.20 in funds funds 31.8.22
£ £ £ £
Unrestricted funds
General fund 3,451 (80,721) 42,594 (34,676)
Restricted funds
Bursary 13,288 6,796 (20,084) -
School Equipment 1,557 (418) (604) 535
Library 82 - (82) -
School Uniform Fund 1,251 - (1,251) -
Capital Projects 6,633 - (6,633) -
Computer Suite 965 - (965) -
School Development Fund (11) (123) 292 158
Curriculum fund 12,400 - (12,400) -
Locker Fund 567 - (567) -
Keyboard 300 - (300) -
37,032 6,255 (42,594) 693
TOTAL FUNDS 40,483 (74,466) - (33,983)

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
School Development Fund
TOTAL FUNDS		 Incoming
resources
£
711,287
10,666
-
-
10,666
721,953		 Resources
Movement
expended
in funds
£
£
(792,008)
(80,721)
(3,870)
6,796
(418)
(418)
(123)
(123)
(4,411)
6,255
(796,419)
(74,466)

continued...

11

New Maranatha Christian School Trust

Notes to the Financial Statements - continued

for the Year Ended 31 August 2022

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2022.

12. RESTRICTED FUNDS

The charity's restricted funds have the following purposes -

Provision for assistance with school fees for disadvantaged students.

Provision for books for the school library.

Provision fort financial assistance for the acquisition of school uniforms.

Funds made available for the provision of school equipment.

Funds provided to install a suite of computers within the school.

Resources employed for improving and developing the school premises.

Funds collected to instal lockers for students.

12

New Maranatha Christian School Trust

Detailed Statement of Financial Activities for the Year Ended 31 August 2022

Detailed Statement of Financial Activities
for the Year Ended 31 August 2022
31.8.22 31.8.21
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Gifts 45,373 34,369
Grants 15,000 16,299
Grant -Swindon Borough Council 40,503 32,921
100,876 83,589
Investment income
Deposit account interest 4 5
Charitable activities
School fees 305,479 222,063
Other income
Miscellaneous income 7,685 2,252
Total incoming resources 414,044 307,909
EXPENDITURE
Charitable activities
Wages 311,931 292,405
Accommodation costs 24,671 21,263
Insurance 5,837 3,684
Sundries 4,884 12,351
Curriculum 17,478 10,285
Motor expenses 1,005 1,650
Donations and gifts 3,870 10,000
School trips 1,217 2,336
Examination fees 12,171 12,461
Publications 1,374 -
384,438 366,435
Support costs
Management
Office expenses 21,524 16,328
Accountancy 852 834
Legal and professional fees 1,021 1,704
Depreciation of tangible and heritage assets 1,289 1,718
24,686 20,584
Finance
Bank charges 168 108
Total resources expended 409,292 387,127
Net income/(expenditure) 4,752 (79,218)

This page does not form part of the statutory financial statements

13