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|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|
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|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|
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||||||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|
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|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||
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|||||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|
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|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|
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|.
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|
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||||||||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|
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||||||||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|
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