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2021-07-31-accounts

CONTENTS			PAGE
Legal and Administrative	information
Report ofthe Governors			4-10
Report ofthe Independent	Auditors		11-14
Statement of Financial Activities and Income and Expenditure		Account	15
Balance Sheet			16
Cash Flow Statement			17
Notes tothe Financial Statements			18-26

R THE YEAR END	ED	31J	ULY20	2	1
							Year ended	Year ended
						Notes	31July	31July
							2021	2020
							E	E
INCOME AND ENDOWMENTS				FROM:
INCOME
Donations							29,633	25,685
Income from charitable			activities
Schoolfees						2	3,516,974	3,156,368
Other educational		income					10,200	6,500
Other ancillary	trading		income				163,223	139,982
Sundry income						3	62,064	105,833
Total Income							3,782,094	3,434,369
EXPENDITURE ON:
Raising funds
School financing	costs						78,489	85,074
Charitable activities
Education							3,419,212	3,278,427
Total expenditure						4	3,497,701	3,363,501
Net Income and Net		Movement			in funds for the year		284,393	70,867
Reconciliation of	Funds
Fund Balance at 1August			2020				4,358,135	4,287,268
Fund balance at 31July			2021				4,642,529	4,358,135

					Year ended	Year ended
					31July	31July
				Notes	2021	2020
					f
Net cash inflow from operations
Net cash generated from	operations			8	537,370	318,263
Cash flows from investing	activities:
Payments for tangible assets				9	(110,704)	(231,854)
Net cash used in investing	activities				(110,704)	(231,854)
Cash flows from financing	activities:
Net loans repaid					(118,592)	(114,159)
Finance costs paid					(78,489)	(85,074)
Net cash utilised in financing		activities			(197,081)	(199,233)
Net change in cash and cash		equivalents	during the year		229,585	(112,824)
Cash and cash equivalents	at	beginning ofyear			1,053,244	1,166,068
Cash and cash equivalents	at	end ofyear			1,282,829	1,053,244

Freehold	land	Not depreciated	Not depreciated
Freehold	buildings	1/o on straight		line basis
Fittings and fittings		Between	5'/o and 10'/o on straight		line basis
Computer	equipment	33/a on	straight	line basis
Furniture	and other equipment	15/o on	straight	line basis
Motor vehicles		20/v on	straight	line basis

				Year ended	Year ended
2.	SCHOOL FEES			31July 2021	31July 2020
					f
Fees	receivable			3,724,574	3,575,235
Less	Bursaries and Awards	provided	by the School	(153,036)	(151,949)
Covid-19 fee discounts				(54,564)	(266,918)
				3,516,974	3,156,368

SUNDRY IN	COME
			Year ended		Year ended
			31July 2021		31July 2020
				E
Hire of premises				2,994	5,175
Income from	additional	activities		3,819	2,789
Government	furlough	grant Income		55,251	97,869
				62,064	105,833

. ANALYSIS OF TOTAL EXPENDIT	URE
				Year ended	Year ended
				31July	31July
				2021	2020
Note	Staff	Depreciation	Other	Total	Total
	f	E	E	E	E
Charitable activities
School operating costs:
Teaching costs	1,853,992	93,973	168,895	2,116,860	2,091,803
Welfare costs		4,630	247,808	252,438	248,864
Premises costs	80,523	149,268	213,578	443,369	387,279
Support costs for schooling	341,252	6,250	246,479	593,981	542,247
	2,275,767	254,121	876,760	3,406,648	3,270,193
Financing costs			78,489	78,489	85,074
Governance costs			12,564	12,564	8,234
	2,275,767	254,121	967,813	3,497,701	3,363,501

				Year ended	Year ended
5. GOVERNANCE COSTS				31July 2021	31July 2020
				E	E
Trustee insurance				751	375
Audit fees				9,000	5,700
Governor training				2,813	2,159
				12,564	8,234
				Year ended	Yearended
6. EXPENDITURE DISCLOSURES				31July 2021	31July 2020
					E
Direct charitable expenditure		includes:
Auditors' remuneration	-for	audit offinancial statements		9,000	5,700
Fees for other services	provided		by auditors	1,200
Depreciation - owned	assets			254,121	220,901
Operating lease rentals				17,321	7,160

		Year ended	Year ended
7. STAFF COSTS		31July 2021	31July 2020
		6	f
The aggregate payroll	costs were;
Wages and salaries		1,905,796	1,822,537
Social security costs		171,528	173,437
Pension contributions	(Note 16)	198,444	290,094
		2,275,767	2,286,068
The following number ofstaff received remuneration		in excess off60,00Q in the year:
		Year ended	Year ended
		31July 2021	31July 2020
		No	No
E60,001to 670,000		1	1
E70,001to E80,000			1
f80,000tof90,0QQ
E90,000to 6100,000

Key	Manageme	nt Person	nel
									Year ended	Yearended
									31July 2021	31July 2020
									E	E
The	aggregate	employee	benefits	of	key	management	personnel	were:	421,268	389,734

		Year ended	Yearended
		31July 2021	31July 2020
Teaching staff		54	52
Administrative	Staff	11	10
		65	62

							Year	ended 31	Year ended 31
								July 2021	July 2020
								E	E
Net incoming resources								284,393	70,868
Adjustments for non-cash		items:
Finance costs payable								78,489	85,074
Depreciation								254,121	220,901
Fees received in advance		in prior		years credited		to Income		(90,612)
Net cash generated	from	operating			activities			526,391	376,843
Movement in working capital
Decrease/(increase)	in debtors							(16,788)	14,702
(Decrease)/ increase	in creditors							60,240	(56,339)
(Decrease) in fees in	advance							(37,673)	(14,744)
(Decrease)/ increase	in deposits			received				5,200	(2,200)
Net cash generated	from	operations						537,370	318,263
9. FIXEDASSETS -	Tangible		assets
							Furniture
			Freehold Land			Computer	and other	Motor
			and	Buildings E		equipment F.	Equipment f	Vehicles E	Total E
Cost
At 1August 2020				7,500,696		379,706	336,554	74,245	8,291,201
Additions					28,984	34,608	12,387	34,725	110,704
Disposals					(34,662)	(136,517)	(86,859)		(258,038)
At 31July 2021				7,495,018		277,797	262,082	108,970	8,143,867
Accumulated
depreciation
At 1August 2020				1,104,286		259,786	216,259	74,245	1,654,576
Charge for the year					148,877	63,457	37,157	4,630	254,121
Disposals					(34,662)	(136,517)	(86,859)		(258,038)
At 31July 2021				1,218,501		186,726	166,557	78,875	1,650,659
Net book value at
31July 2021				6,276,517		91,071	95,525	30,095	6,493,208
Net book value at
31July 2020				6,396,410		119,921	120,294		6,636,625

10. DEBTORS	10. DEBTORS		2021	2020
			E	E
Fees receivable			8,794	5,756
Prepayments			65,065	53,353
Other debtors			16,574	14,537
			90,433	73,645
11. CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR	2021	2020
				E
Bank loans (note 14)			119,197	114,469
Deposits received			15,100	14,500
Fees received	in advance		135,700	90,612
Trade creditors			69,371	26,374
Tax (k Social Security			54,516	53,972
Other creditors			12,897	23,965
Accrua Is			156,031	128,266
			562,812	452,158

12.	CREDITORS: AMOUNTS	FALLING DUE AFTER MORE THAN
ONE	YEAR		2021	2020
			E	f
Deposits received			107,200	102,600
Fees	received in advance (note	13)	52,215	225,588
Bank	loans (note 14)		2,501,712	2,625,032
			2,661,127	2,953,220

	Year ended	Year ended 31
	31July 2021	July 2020
	E	E
Within one year	67,850	90,612
Between one and two years	30,873	59,384
Between two and five years	21„342	60,681
	120,065	210,677

The bala	nce represents the accrued liability under the contr	acts. The movements during th	e year were:
		Year ended	year ended
		31July 2021	31July 2020
		E	f
Balance	at 1August 2020	210,677	303,036
Amounts	credited to pupils accounts forfees	90,612	92,359
Balance	at 31July 2021	120,065	210,677

							Total	Total
				Interest			amount of	amount of
			Remaining		rate	Loan	loan drawn	loan drawn
			term of	payable	per	repayments	at 31July	at 31July
			loan	annum		in next year	2021	2020
						E	E	E
First loan - Founders		Loan	7H years			35,000	268,333	303,333
Second	loan - Palmer	Hall Loan	19years	Base+	1.8N	30,119	773,494	804,986
Third loan —2016Fixed Loan			20years	3.759o		29,786	867,271	895,975
Fourth	Loan - 2017 Fixed Loan		21years	3.819o		24,292	711,811	735,207
						119,197	2,620,909	2,739,501
Due:
Within	one year						119,197	114,469
After more than one		year					2,501,712	2,625,032
							2,620,909	2,739,501