**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 - - (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 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