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|GOVERNORS|Mr A.J.Cross LLB (Hons) (Chairman)|Mr A.J.Cross LLB (Hons) (Chairman)|Mr A.J.Cross LLB (Hons) (Chairman)|Mr A.J.Cross LLB (Hons) (Chairman)||
|---|---|---|---|---|---|
||Mr I.G. Boumphrey|||||
||Mr M.R. Cashin|MA||||
||Mr A.D. Coates|MA, JP||||
||Mrs L.A.C. Dodd||BA|(Hons) Chartered|FCSI|
||Mr M.S.Furniss|||||
||Mrs J.L. Greensmith|||CBE, DL||
||DrJ.K. Moore OBE, FRCA, MBA|||||
||Mr D.I.Pottinger|||||
||Mr E.N. Rice FRICS|||||
||Mr W.D.C. Rushworth|||BA||
|HEADMASTER|P.R.Vicars MA|||||
|SECRETARY/BURSAR|M.J.Turner
MA|||||
|REGISTERED OFFICE|The Lodge|||||
||58 Beresford Road|||||
||Oxton|||||
||Wirral|||||
||CH43 2JD|||||
|BANKERS|National Westminster|||Bank Pic||
||6Grange Road|West||||
||Charing Cross|||||
||Birkenhead|||||
||CH41 4DF|||||
|AUDITORS|McLintocks (NW)||Limited|||
||46 Hamilton
Square|||||
||Birkenhead|||||
||CH41 5AR|||||
|SOLICITORS|Jolliffe &Co LLP|||||
||6StJohn Street|||||
||Chester|||||
||CH1 1DA|||||
||Bermans
LLP|||||
||Lancaster House|||||
||Tithebarn
Street|||||
||Mercury Court|||||
||Liverpool|||||
||L2 2QP|||||
|INVESTMENT MANAGERS|Rathbone
Investment|||Management||
||Port of Liverpool||Building|||
||Pier Head|||||
||I iverpool|||||
||L3 1NW|||||
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|||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|
|||funds|funds|funds|2021|2020|
||Note|||F.|F.||
|INCOME AND ENDOWMENTS|FROM||||||
|Donations
and Legacies|2|107,743|19,861||127,604|206,039|
|Charitable
activities|||||||
|Fees receivable|3|9,096,251|||9,096,251|8,226,714|
|Catering
income
Activity courses
School trips
Other income||512,354
132,285
59,303
118,884|||512,354
132,285
59,303
118,884|438,989
96,529
24,947
100,204|
|Other trading
activities
Investment
income|4
5|33,381
184,051|7,929
2,198|866|41,310
187,115|63,692
181,403|
|Other income||116,018|||116,018|78,662|
|Total||10,360,272|29,988|866|10,391,126|9,417,179|
|EXPENDITURE ON|||||||
|Raising funds|6|105,787|||105,787|108,709|
|Charitable
activities
Grants awards
and prizes||||' 3,381|3,381|3,977|
|Teaching costs
Catering
and welfare
Premises||7,013,280
799,485
1,519,100|10,671||7,023,951
799,485
1,519,100|6,445,821
691,706
1,432,382|
|Activity courses
School trips||158,812
65,562|||158,812
65,562|104,165
29,206|
|Total|7|9,662,026|10,671|3,381|9,676,078|8,815,966|
|Net gains/(losses)
on investments||918,857||4,959|923,816|239,000|
|Net income carried forward||1,617,103|19,317|2,444|1,638,864|840,213|
##
##
|||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|2021|2020|
||||Note||K|R|R|F.|
|Net income brought forward||||1,617,103|19,317|2,444|1,638,864|840,213|
|Transfer|between|funds||40,617|(40,617)||||
|||||1,657,720|(21,300)|2,444|1,638,864|840,213|
|Actuarial
benefit|gains on defined
pension scheme||18|467,000|||467,000|88,000|
|Net movement||in funds||2,124,720|(21,300)|2,444|2,105,864|928,213|
|RECONCILIATION
OF FUNDS|||||||||
|Total funds brought forward||||16,473,202|117,232|28,146|16,618,580|15,690,367|
|TOTAL|FUNDS|CARRIED FORWARD||18,597,922|95,932|30,590|18,724,444|16,618,580|
##
##
##
|||||||2021|2020|2020|
|---|---|---|---|---|---|---|---|---|
||||||~Grou|~Com
an|~Grou|C~om
an|
|||||Note|||||
|FIXEDASSETS|||||||||
|Tangible fixed assets
Investments||||12
13|11,422,373
6,360,375|11,240,148
33,105|11,118,021 10,932,197
5,372,274
28,146||
||||||17,782,748|11,273,253|16,490,295 10,960,343||
|CURRENT ASSETS|||||||||
|Debtors||||14|283,897|790,841|532,744|1,047,252|
|Cash at bank and
in|hand||||3,471,853|3,260,237|2,588,552|2,433,779|
||||||3,755,750|4,051,078|3,121,296|3,481,031|
|CREDITORS: amounts||falling due|||||||
|within one year||||15|(2,819,054)|(2,808,510)|(2,582,011)(2,571,322)||
|Net current assets (liabilities)|||||936,696|1,242,568|539,285|909,709|
|NET ASSETS EXCLUDING|||PENSION LIABILITY||18,719,444|12,515,821|17,029,580|11,870,052|
|Defined benefit pension scheme asset (liability)||||18|5,000|5,000|(411,000)|(411,000)|
|NET ASSETS INCLUDING|||PENSION||||||
|(LIABILITIES)/ASSETS|||||18,724,444|12,522,821|16,618,580|11,459,052|
|FUNDS|||||||||
|Unrestricted:
general
pension|reserve|||18|18,592,922
5,000|12,490,231
5,000|16,884,202
(411,000)|11,841,906
(411,000)|
|||||16|18,597,922|12,495,231|16,473,202|11,430,906|
|Restricted||||16|95,932||117,232||
|Endowment||||16|30,590|30,590|28,146|28,146|
|TOTAL FUNDS|||||18,724,444|12,525,821|16,618,580|11,459,052|
##
|CONSOLI|DATED
CASH FL|OW STATEMENT FO|R THE YEAR E|NDED 31 AUGUST 2021||
|---|---|---|---|---|---|
||||Note|2021|2020f|
|Cash flows from operating||activities:||||
|Cash generated
from operations||||1,432,817|683,978|
|Investing|activities:|||||
|Dividends|interest
and rents|from investments||187,115|181,403|
|Proceeds|from sale offixed|asset investments||697,601|924,827|
|Proceeds|from sale offixed|assets||||
|Purchase|oftangible fixed assets|||(669,318)|(352,701)|
|Purchase|offixed asset investments|||(874,821)|(1,156,605)|
|Net cash|generated
from investing|||||
|activities||||(659,423)|(403,076)|
|Net increase
in cash and cash equivalents||||773,394|280,902|
|Cash and|cash equivalents|at the beginning||||
|ofthe reporting
period||||2,780,087|2,499,185|
|Cash and|cash equivalents|at the end ofthe||||
|reporting|period|||3,553,481|2,780,087|
##
##
|1.|RECONCILIATION
OF NET INCOME TO NET CASH FLOW|RECONCILIATION
OF NET INCOME TO NET CASH FLOW|FROM OPERATING||
|---|---|---|---|---|
||ACTIVITIES||||
||||2021|2020|
|||||R|
||Net income for the reporting
period (as per
the statement
offinancial
activities)||1,638,864|840,213|
||Adjustments
for:||||
||Depreciation
charges||364,966|308,562|
||(Gains) on disposal ofassets||||
||(Gains) on investment||(920,788)|(235,972)|
||Pension
fund non cash adjustment||51,000|43,000|
||Dividends
interest and rents from investments||(187,115)|(181,403)|
||Decrease
in debtors||248,847|20,748|
||(Decrease) increase
in creditors||237,043|(111,170)|
||Net cash provided
by (used in) operating|activities|1,432,817|683,978|
|2.|ANALYSYS OF CHANGES
IN NET DEBT||||
||The group had no debt during the year||||
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|VOLUNTARY
I|NCO|ME||||||
|---|---|---|---|---|---|---|---|
||||Unrestricted||Restricted|Total|Total|
|||||funds|funds|2021|2020|
|||||||E||
|Donations||||||||
|General donations||||57,102|19,861|76,963|48,796|
|CJRS grants||||50,641||50,641|157,243|
|||||107,743|19,861|127,604|66,651|
|Included
in donation||ofF48,796for 2020 is||an amount ofF15,214which||is restricted.||
|SCHOOL FEES||||||2021|2020|
|||||||R||
|The school's fee income comprised:||||||||
|Gross fees||||||10,104,342|9,556,275|
|Less bursaries,|scholarships||and discounts|||(1,008,091)|(1,329,561)|
|||||||9,096,251|8,226,714|
##
##
##
##
##
|TRADING INCOME||||||2021|2020|
|---|---|---|---|---|---|---|---|
|School shop commission||||||10,470|15,345|
|Hire offacilities||||||21,074|31,531|
|Fundraising
events||||||9,766|16,816|
|||||||41,310|63,692|
|INVESTMENT INCOME|||Unrestricted|Restricted|Endowment|||
||||funds|funds
f|funds|2021
E|2020|
|Dividends|||119,662|2,198||121,860|118,896|
|Bank interest|||9,509|||9,509|22,909|
|Common
Investments|Fund shares||||866|866|433|
|Rental income (including||recharges)|54,880|||54,880|39,165|
||||184,051|2,198|866|187,115|181,403|
|For the year ended 31||August 2020||||||
|Dividends|||115,695|3,201|||118,896|
|Bank interest|||22,909||||22,909|
|Common
Investments|Fund shares||||433||433|
|Rental income (including||recharges)|39,155||||39,165|
||||177,769|3,201|433||181,403|
|EXPENDITURE ON RAISING FUNDS||||||2021|2020|
|||||||E||
|Publicity and marketing||||||68,063|73,342|
|Investment
management||costs||||37,724|35,367|
|||||||105,787|108,709|
##
##
|EXPENDITURE|ON CHARITABLE ACT|IVITIES|||||
|---|---|---|---|---|---|---|
||Staff||Other|Support|Total|Total|
||costs|~De reciat1on|costs|costs|2021|2020|
||||R||||
|Charitable
expenditure|||||||
|Grants awards|and prizes||3,381||3,381|3,977|
|Teaching costs|5,764,143|202,168|388,795|668,845|7,023,951|6,445,821|
|Welfare|49,084|6,611|667,787|76,003|799,485|691,706|
|Premises|540,623|145,960|684,504|148,013|1,519,100|1,432,382|
|Activity courses|77,623||73,471|7,718|158,812|104,165|
|School trips|||65,562||65,562|29,206|
|Total|6,431,473|354,739|1,883,500|900,579|9,570,291|8,707,257|
|For the year ended 31 August 2020|||||||
|Grants awards|and prizes||3,977|||3,977|
|Teaching costs|5,230,152|151,209|445,505|618,955||6,445,821|
|Welfare|42,312|6,223|575,973|67,198||691,706|
|Premises|508,035|146,868|633,119|144,360||1,432,382|
|Activity courses|35,811||60,939|7,415||104,165|
|School trips|||29,206|||29,206|
|Total|5,816,310|304,300|1,748,719|837,928||8,707,257|
##
|basis consiste|nt
with the use|ofthe resour|ces.|||||
|---|---|---|---|---|---|---|---|
||||||Activity|Total|Total|
|||~Teachic|Welfare|Premises|courses|2021|2020|
||||||||R|
|Staff costs||458,814|52,374|99,515|5,319|616,022|513,060|
|Depreciation||3,028||3,600||6,628|4,262|
|Office costs||142,705|16,290|30,952|1,653|191,600|228,644|
|Recruitment,|hospitality|||||||
|and presentations||5,251|599|1,139|61|7,050|9,880|
|Subscriptions|and affiliations|6,519|744|1,414|76|8,753|8,932|
|Bank charges||5,432|620|1,178|63|7,293|7,334|
|Governance|costs|47,096|5,376|10,215|546|63,233|65,816|
|||668,845|76,003|148,013|7,718|900,579|837,928|
##
##
|For the year|ended 31August 2020|ended 31August 2020|||Activity|Total|
|---|---|---|---|---|---|---|
|||T~eachic|Welfare|Premises|courses|2020|
|||F||||f.|
|Staff costs||382,546|41,118|84,816|4,580|513,060|
|Depreciation|||662|3,600||4,262|
|Office costs||170,469|18,330|37,799|2,046|228,644|
|Recruitment,|hospitality||||||
|and presentations||7,366|792|1,633|88|9,880|
|Subscriptions|and affiliations|6,660|716|1,477|80|8,932|
|Bank charges||5,469|588|1,212|65|7,334|
|Governance|costs|46,445|4,992|13,823|556|65,816|
|||618,955|67,198|144,360|7,415|837,928|
##
|STAFF|COST|S|||
|---|---|---|---|---|
||||2021|2020|
|||||R|
|Wages|and salaries||5,599,805|5,038,342|
|Social security||costs|527,217|474,097|
|Pension|contribution||908,250|849,461|
|Apprenticeship||levy|12,223|9,833|
||||7,047,495|6,371,733|
||||7,047,495|7,047,495|7,047,495|6,3|71,733|
|---|---|---|---|---|---|---|---|
|The directors|have received no remuneration||during the year or the previous year.|||||
|The average|number|of full time equivalent|employees|in the period, excluding|directors,|was:||
||||||2021||2020|
||||||No.||No.|
|Teaching|||||74||72|
|Teaching
support|||||12||11|
|Technical support|||||7||7|
|Estates support|||||22||20|
|Administration|||||15||13|
|Early years|||||31||25|
|Welfare|||||1||1|
||||||163||149|
##
##
|STAFF COSTS (continued)||||
|---|---|---|---|
|||2020|2019|
|||No.|No.|
|The number of higher paid employees|was:|||
|f60,001 - f70,000||||
|f70,001 - 880,000||||
|f80,001 - F90,000||||
|f90,001 - F100,000||||
|f100,001 - 6110,000||||
|f110,001 - f120,000||||
|E120,001 - 8130,000||||
|F130,000 - 2140,000||||
##
##
|||||Unrestricted|Restricted|Endowment||Total|
|---|---|---|---|---|---|---|---|---|
|||||funds|funds|funds||2020|
||||Note|R|R||||
|INCOME AND|ENDOWMENTS|FROM|||||||
|Donations
and|Legacies|||190,825|15,214|||206,039|
|Fees receivable||||8,226,714|||8,226,714||
|Catering
income||||438,989||||438,989|
|Sports courses||||96,529||||96,529|
|School trips||||24,947||||24,947|
|Other income||||100,204||||100,204|
|Other trading
activities||||52,791|10,901|||63,692|
|Investment
income||||177,769|3,201|433||181,403|
|Other income||||78,662||||78,662|
|Total||||9,387,430|29,316|433|9,417,179||
|EXPENDITURE ON|||||||||
|Raising funds||||108,709||||108,709|
|Charitable
activities|||||||||
|Grants awards|and prizes|||2,832||1,145||3,977|
|Teaching costs||||6,429,199|16,622|-||6,445,821|
|Catering and welfare||||691,706||||691,706|
|Premises||||1,432,382||-||1,432,382|
|Sports courses||||104,165||||104,165|
|School trips||||29,206||||29,206|
|Total||||8,798,199|16,622|1,145||8,815,966|
|Net gains on investments||||238,390||610||239,000|
|Net income||||827,621|12,694|(102)||840,213|
##
##
##
|Unrestricted|Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|2019|
||||||E|
|Net income brought
forward||827,621|12,694|(102)|840,213|
|Transfer between
funds||46,831|(46,831)|||
|||874,452|(34,137)|(102)|840,213|
|Actuarial
gains
on defined||||||
|benefit pension scheme||88,000|||88,000|
|Net movement
in funds||962,452|(34,137)|(102)|928,213|
|RECONCILIATION
OF FUNDS||||||
|Total funds brought
forward||15,510,750|151,369|28,248|15,690,367|
|TOTAL FUNDS CARRIED FORWARD||16,473,202|117,232|28,146|16,618,580|
|NET INCOME(EXPENDITURE)||||2021|2020|
||||||R|
|Resources expended
include||||||
|Operating
lease payments||||13,470|13,470|
|Auditors
remuneration:
for audit services||||12,000|11,500|
|for accountancy|services|||5,640|6,338|
|Directors'
liability insurance||||7,526|6,945|
|Depreciation
of owned fixed assets||||364,966|308,562|
##
##
|TANGIBLE FIXEDASSET|S|||||
|---|---|---|---|---|---|
||||Furniture|||
||Land and|Assets under|and|Motor||
||~Buildin
e|Conetruotlon|~eul
ment|vehlolee|Total|
|||||E||
|Group||||||
|At 1 September 2020|11,575,063|292,794|2,256,165|211,534|14,335,556|
|Additions||299,026|344,438|25,854|669,318|
|Transfers||(127,305)|127,305|||
|At 31August 2021|11,575,063|464,515|2,727,908|237,388|15,004,874|
|Depreciation||||||
|At 1 September 2020|1,082,883||1,996,397|138,255|3,217,535|
|Charge for period|203,069||132,507|29,390|364,966|
|At 31 August 2021|1,285,952||2,128,904|167,645|3,582,501|
|Net book value||||||
|At 31 August 2021|10,289,111|464,515|599,004|69,743|11,422,373|
|At 31 August 2020|10,492,180|292,794|259,768|73,279|11,118,021|
|Company||||||
|At 1 September 2020|11,370,063|292,794|2,218,899|211,534|14,093,290|
|Additions||299,026|344,437|25,854|669,317|
|Transfers||(127,305)|127,305|||
|At 31 August 2021|11,370,063|464,515|2,690,641|237,388|14,762,607|
|Depreciation||||||
|At 1 September 2020|1,063,708||1,959,130|138,255|3,161,093|
|Charge for period|199,469||132,507|29,390|361,366|
|At 31 August 2021|1,263,177||2,091,637|167,645|3,522,459|
|Net book value||||||
|At 31 August 2021|10,106,886|464,515|599,004|69,743|11,240,148|
|At 31 August 2020|10,306,355|292,794|259,769|73,279|10,932,197|
##
##
|13.|FIXEDASSET INVESTMENTS|2021|2020|
|---|---|---|---|
||Group|||
||Market value at 1 September 2020|5,372,274|4,994,088|
||Additions
at cost|874,821|1,156,605|
||Disposals at opening
market value|(644,134)|(999,351)|
||Revaluation
changes|867,322|310,496|
||(Decrease)
in deposits|(109,907)|(89,564)|
||Market value at 31 August 2021|6,360,375|5,372,274|
||Historical cost at 31August 2021|4,822,986|4,549,466|
||The investments
comprise:|2021|2020|
||UK Government
stocks|210,336|208,568|
||UK equities and funds|2,164,231|1,733,435|
||Overseas
equities and funds|3,478,972|2,822,648|
||Common
Investment
Funds|33,105|28,146|
||Cash awaiting
investment|81,628|191,535|
||Investment
property
in Nantwich|340,108|332,918|
||Solar panels|51,996|55,024|
|||6,360,376|5,372,274|
|||2021|2020|
||Company||f.|
||Market value at 1 September 2020|28,146|27,536|
||Revaluation
changes|4,959|610|
||Market value at 31August 2021|33,105|28,146|
||Historical cost at 31August 2021|12,366|12,366|
||The investments
comprise:|2021|2020|
||||E|
||Common
Investment
Fund shares|33,103|28,144|
||Investment
in subsidiary
company - see note 20(a)|2|2|
|||33,105|28,146|
##
##
|14.|DEBTORS||||||2021||2020|
|---|---|---|---|---|---|---|---|---|---|
|||||||~Grou|~Com
an|~Grou|~Com
an|
|||||||||R||
||Fees receivable|||||161,984|161,984|331,684|331,684|
||Other debtors|||||6,963|1,748|5,217||
||Prepayments
and accrued|||income||98,665|98,665|186,471|186,471|
||Amounts
due from subsidiary||||undertakings||528,444||529,097|
||Tax recoverable|||||16,285||9,372||
|||||||283,897|790,841|532,744|1,047,252|
|15.|CREDITORS:|AMOUNTS||FALLING DUE|||2021||2020|
||WITHIN ONE YEAR|||||~Grou|~Com
an|~Grou|~Com an|
||||||||F|||
||Fee payments|in advance||||1,489,100|1,489,100|1,272,631|1,272,631|
||Trade creditors|||||362,085|362,085|188,850|188,850|
||Other taxation
and social|||security||161,421|161,421|113,388|113,149|
||Other creditors|||||680,935|680,935|758,983|758,983|
||Accruals and deferred||income|||125,513|114,969|248,159|237,709|
|||||||2,819,054|2,808,510|2,582,011|2,571,322|
|16.|ANALYSIS OF|MOVEMENT|||IN FUNDS|||||
||||||Balance at|||Gains|Balance at|
||||||1 September|||Losses and|31August|
||||||2020|Income|~Ea enditure|transfers|2021|
||Unrestricted
funds|||||||||
||General funds||||16,884,202|10,360,272|(9,611,026)|959,474|18,592,922|
||Pension
deficit||||(411,000)|-|(51,000)|467,000|5,000|
||||||16,473,202|10,360,272|(9,662,026)|1,426,474|18,597,922|
||Restricted funds|||||||||
||Bursary funding||||111,768|22,059|(287)|(40,617)|92,923|
||Restricted fundraising||||5,464|7,929|(10,384)||3,009|
||Permanent
endowment|||||||||
||Prize and Scholarship||Funds||28,146|866|(3,381)|4,959|30,590|
||Totalfunds||||16,618,580|10,391,126|(9,676,078)|1,390,816|18,724,444|
|||||Balance at|||Gains|Balance at|
|---|---|---|---|---|---|---|---|---|
|||||1 September|||Losses and|31August|
|||||2019|Income|~Ex endlture|transfers|2020|
||||||||F.||
|Unrestricted|funds||||||||
|General funds||||15,966,750|9,387,430|(8,755,199)|285,221|16,844,202|
|Pension
surplus||(deficit)||(456,000)||(43,000)|88,000|(411,000)|
|||||15,510,750|9,387,430|(8,798,199)|373,221|16,473,202|
|Restricted|funds||||||||
|Bursary funding||||140,192|22,463|(4,056)|(46,831)|111,768|
|Restricted fundraising||||11177|6,853|(12,566)||5,464|
|Permanent|endowment||||||||
|Prize and Scholarship|||Funds|28,248|433|(1,145)|610|28,146|
|Total funds||||15,690,367|9,417,179|(8,815,966)|327,000|16,618,580|
##
|ANALYSIS|OF NET ASSETS BETW|EEN FUNDS||||
|---|---|---|---|---|---|
|Group||Unrestricted|Restricted|Endowment||
|||funds|funds|funds|Total|
|Tangible fixed assets||11,422,373|||11,422,373|
|Investments||6,234,347|92,923|33,105|6,360,375|
|Cash and bank||3,471,853|||3,471,853|
|Net current|(liabilities)|(2,535,651)|3,009|(2,515)|(2,535,157)|
|Defined benefit pension asset||5,000|||5,000|
|||18,597,922|95,932|30,590|18,724,444|
|Company||Unrestricted|Restricted|Endowment||
|||funds|funds|funds|Total|
|||F|R|||
|Tangible fixed assets||11,240,148|||11,240,148|
|Investments||||33,105|33,105|
|Cash and bank||3,260,237|||3,260,237|
|Net current|(liabilities)|(2,015,154)||(2,515)|(2,017,669)|
|Defined benefit pension asset||5,000|||5,000|
|||12,490,231||30,590|12,520,821|
##
##
##
##
|Group||Unrestricted|Restricted|Endowment||
|---|---|---|---|---|---|
|||funds|funds|funds|Total|
||||E|R||
|Tangible fixed assets||11,118,021|||11,118,021|
|Investments||5,314,273|29,855|28,146|5,372,274|
|Cash and bank||2,433,781|154,771||2,588,552|
|Net current|(liabilities)|(1,981,873)|(67,394)||(2,049,267)|
|Defined benefit pension asset||(411,000)|||(411,000)|
|||16,473,202|117,232|28,146|16,618,580|
|Company||Unrestricted|Restricted|Endowment||
|||funds|funds|funds|Total|
|||R|R||R|
|Tangible fixed assets||10,932,197|||10,932,197|
|Investments||||28,146|28,146|
|Cash and bank||2,433,779|||2,433,779|
|Net current|(liabilities)|(1,524,070)|||(1,524,070)|
|Defined benefit pension asset||(411,000)|||(411,000)|
|||11,430,906||28,146|11,459,052|
##
##
##
##
##
|The actuarial|assumptions|underlying|the assets and liabilities as at 31August 2021|were:-||
|---|---|---|---|---|---|
|Assumptions||||2021|2020|
|Rate of CPI inflation||||2 7%|24%|
|Rate of salary|increases|||4.2%|3.9%|
|Rate of pension
increases||||2 8%|2.5%|
|Discount rate||||1 7%|1 7%|
|The assets
in|the Fund and|expected|rate of return were:|||
|||||2021|2020|
||||F000's||F000's|
|Equities||||1,748|1,789|
|Government|bonds|||115|92|
|Other bonds||||968|507|
|Property||||321|331|
|Cash/liquidity||||152|198|
|Other||||816|757|
|Total market|value ofassets|||4,120|3,674|
|Actuarial
value of (liabilities)|||(4,115)||(4,085)|
|Fund surplus/(deficit)|||||(411)|
##
##
|The amounts
recognised
in statemen|t
offina|ncial activities are|as follows:-|||
|---|---|---|---|---|---|
|||||31August|31August|
|||||2021|2020|
|||||OOOO's|OOOO's|
|Current service cost||||46|50|
|Net interest cost||||7|10|
|Administration
expenses||||1|1|
|Total included
in employee expenses|||||61|
|Changes
in the present value ofthe|defined|benefit obligations|are as follows:|||
|Opening
defined benefit obligation||||4,085|4,351|
|Current/past
service cost||||46|52|
|Interest on pension
liabilities||||68|77|
|Members
contributions||||9|8|
|Actuarial
(gains)losses
on liabilities||||63|(217)|
|Benefits/transfers
paid||||(156)|(186)|
|Benefit obligations
at end ofyear||||4,115|4,085|
|Changes
in the fair value of plan assets are||as follows:-||||
|||||2021|2020|
|||||f000's|ROOO's|
|Opening
fair value of plan assets||||3,674|3,895|
|Interest on pension
plan assets||||61|69|
|Remeasurements||||530|(129)|
|Employer
contributions||||3|18|
|Members
contributions||||9|8|
|Benefits/transfers
paid||||(156)|(186)|
|Administration
expenses||||(1)|(1)|
|Fair value of plan assets at 31August 2021||||4,120|3,674|
|Statement of recognised
gains and losses||||||
|Actuarial
gains/(losses)
recognised|in the STRGL|||467|88|
##
##
##
##
##
##
##
|under non-cancellable
operating
leases, wh|ich
fall due as follows||
|---|---|---|
||2021|2020|
|Within one year|5,665|1,951|
|Between two and five years|4,249|15,580|
||9,914|17,531|
##
##
##
|20.|SUBSIDIARY|AND RELATED ENTITIES|(continued)|||
|---|---|---|---|---|---|
|(a)|Novitas Services Limited|||2021|2020|
||Turnover|||||
||Cost ofsales|||||
||Gross profit|||||
||Other income|||||
||Administrative|expenses||(3,600)|(4,262)|
||Profit/(Loss)|||(3,600)|(4,718)|
||The aggregate|ofthe assets, liabilities|and funds was:|2021|2020|
||||||R|
||Assets|||182,225|185,825|
||Liabilities|||(351,867)|(351,867)|
|||||(169,642)|(166,042)|
||Share capital|||2|2|
||Profit and loss|account||(169,644)|(166,044)|
|||||(169,642)|(166,042)|
##
|A summary
ofthe results for the Trust is shown|below:||
|---|---|---|
||2021|2020|
|Incoming
resources|373,733|336,922|
|Resources expended|(244,895)|(237,145)|
|Gains on investments|918,857|238,390|
|Net movement
in funds|1,047,695|338,167|
##
##
|20.|SUBSIDIAR|Y AND RELATED E|NTITIE|S (continued|)|||
|---|---|---|---|---|---|---|---|
|(b)|Birkenhead|School Foundation|Trust|—connected|charity|||
||The aggregate ofthe assets, liabilities|||and funds|was:|2021|2020|
||Assets|||||6,560,385|5,513,489|
||Liabilities|||||(187,121)|(187,920)|
|||||||6,373,264|5,325,569|
||Unrestricted|funds||||6,277,332|5,208,337|
||Restricted funds|||||95,932|117,232|
|||||||6,373,264|5,325,569|
##
##
|Year|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Liability|||||||||||
||275,714|238,571|201,429|164,286|127|143|90,000|60,000|30|000|