|||||PAGE| |---|---|---|---|---| |CONTENTS||||| |Legal and Administrative||information||| |Report of the 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 to the Financial Statements||||18-26| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||||Year ended|Year ended| |---|---|---|---|---|---|---|---|---| |||||||Notes|31July|31July| ||||||||2022|2021| |||||||||E| |INCOME AND ENDOWMENTS||||FROM:||||| |INCOME||||||||| |Donations|||||||25,701|29,633| |Income from charitable|||activities|||||| |School fees|||||||3,591,678|3,516,974| |Other educational||income|||||10,900|10,200| |Other ancillary trading|||income||||273,576|163,223| |Sundry income|||||||26,769|62,064| |Total Income|||||||3,928,624|3,782,094| |EXPENDITURE ON:||||||||| |Raising funds||||||||| |School financing|costs||||||78,466|78,489| |Charitable
activities||||||||| |Education|||||||3,681,777|3,419,212| |Total expenditure||||||4|3,760,243|3,497,701| |Net Income and Net||Movement|||in funds for the year||168,381|284,393| |Reconciliation of Funds:||||||||| |Fund Balance at 1August|||2021||||4,642,529|4,358,135| |Fund balance at 31July|||2022||||4,810,910|4,642,529| ## |ASH FLOW STATEMENT F|OR|THE YEAR|ENDED 31JULY 2|022||| |---|---|---|---|---|---|---| ||||||Year ended|Yearended| ||||||31July|31July| |||||Notes|2022|2021| |||||||E| |Net cash inflow from operations||||||| |Net cash generated
from operations||||8|386,982|537,370| |Cash flows from investing|activities:|||||| |Purchase oftangible assets||||9|(203,731)|(110,704)| |Net cash used
in investing|activities||||(203,731)|(110,704)| |Cash flows from financing|activities:|||||| |Loans repaid|||||(120,151)|(118,592)| |Finance costs paid|||||(78,466)|(78,489)| |Net cash utilised
in financing||activities|||(198,617)|(197,081)| |Net change
in cash and cash||equivalents|during the year||(1S,366)|229,585| |Cash and cash equivalents|at|beginning|ofyear||1,282,829|1,053,244| |Cash and cash equivalents|at|end ofyear|||1,267,463|1,282,829| ## ## ## ## ## ## ## ## |Freehold|land|Not depreciated|Not depreciated||| |---|---|---|---|---|---| |Freehold|buildings|1/o on straight||line basis|| |Fittings and fittings||Between|S/o and 10/o on straight||line basis| |Computer|equipment|33/o on|straight|line basis|| |Furniture|and other equipment|15/o on|straight|line basis|| |Motor vehicles||20/o on|straight|line basis|| ## ## ## ## ## ## ## ## |||||Year ended|Year ended| |---|---|---|---|---|---| |2.|SCHOOL FEES|||31July 2022|31July 2021| |Fees|receivable|||3,793,568|3,724,574| |Less|Bursaries and Awards|provided|by the School|(201,890)|(153,036)| |Less|Covid-19 fee discounts||||(54,564)| |||||3,591,678|3,516,974| ## |.
SUNDRY I|NCOME|||| |---|---|---|---|---| ||||Year ended|Year ended| ||||31July 2022|31July 2021
f| |Receipts from|hire of premises||24,640|2,994| |Income from|additional|activities|2,129|3,819| |Government|furlough|grant Income||55,251| ||||26,769|62,064| ## ## ||||||||||||Year| |---|---|---|---|---|---|---|---|---|---|---|---| |||||||||Year ended 31|||ended 31| ||||||||||July|2022|July 2021| |||Note|||Staff|Depreciation|Other|||Total|Total| ||||||E|f|E|||E|f| |Charitable
activities|||||||||||| |School operating costs:|||||||||||| |Teaching costs|||||1,903,048|89,655|308,938||2,301,641||2,116,860| |Welfare costs||||||6,945|310,827||317,772||252,438| |Premises costs|||||92,077|155,903|182,919||430,898||443,369| |Support costs for schooling|||||333,072|7,200|278,310||618,584||593,981| ||||||2,328,197|259,702|1,080,994||3,668,895||3,406,648| |Financing costs|||||||78,466||78,466||78,489| |Governance
costs|||5||||12,883||12,883||12,564| ||||||2,328,197|259,702|1,172,344||3,760,243||3,497,701| ||||||||Year||ended|Year ended|| |5.
GOVERNANCE|COSTS||||||31July 2022|||31|July 2021| ||||||||||f||E| |Trustee insurance|||||||||826||751| |Audit fees|||||||||9,600||9,000| |Governor training|||||||||2,457||2,813| |||||||||12,883|||12,564| ||||||||Year ended|||Year ended|| |6.
EXPENDITURE DISCLOSURES|||||||31|July|2022|31|July 2021| ||||||||||E||f| |Expenditure
includes:|||||||||||| |Auditors'
remuneration||—for audit|||offinancial|statements|||9,600||9,000| |Fees for other services||provided||by auditors|||||||1,200| |Depreciation
-owned||assets||||||259,702|||254,121| |Operating
lease rentals||||||||11,415|||17,321| ||||||||Year ended|Year ended|Year ended| |---|---|---|---|---|---|---|---|---|---| |7.
STAFF COSTS|||||||31July 2022||31July 2021| |||||||||E|E| |Wages and salaries||||||||1,953,005|1,905,796| |Social security costs||||||||182,385|171,528| |Pension contributions||(Note 16)||||||192,807|198,444| |||||||||2,328,197|2,275,767| |Staff remuneration|in|excess of660,000 per||employee was as follows:|||||| ||||||||Year ended||Yearended| ||||||||31July 2022||31July 2021| ||||||||No ofstaff||No ofstaff| |f60,001to 670,000||||||||2|1| |670,001to f80,000||||||||1|| |680,000to E90,000|||||||||| |690,000to f100,000|||||||||| |Contributions
totalling||f26,944 were made||by the School for||these employees||to the defined|contribution| |pension
scheme operated|||by the School for|all staff.|The staff|remuneration|amounts
in the above table do||| |not include
pension|contributions.||||||||| |Key Management
Personnel|||||||||| ||||||||Year ended||Year ended| ||||||||31July 2022||31July 2021| ||||||||||f| |The aggregate
employee|||benefits of key management||personnel|were:||519,988|421,268| ## |The average n|umber ofemployees
during the ye|ar ended 31July 2021was as follows:|| |---|---|---|---| |||Year ended|Year ended| |||31July 2022|31July 2021| |Teaching staff||55|54| |Administrative|Staff|12|11| |||67|65| ## |||||||||Year|ended 31|Year ended 31| |---|---|---|---|---|---|---|---|---|---|---| ||||||||||July 2022
f|July 2021
f| |Net incoming
resources|||||||||168,381|284,393| |Adjustments
for non-cash|||items||and items separately||disclosed:|||| |Finance costs payable|||||||||78,466|78,489| |Depreciation|||||||||259,702|254,121| |Fees received
in advance|||in prior||years credited|to Income|||(69,795)|(90,612)| |Net cash generated|from||operating
activities||||||436,754|526,391| |Movement
in working||capital||||||||| |(increase)in
debtors|||||||||(13,165)|(16,788)| |(Decrease)/ increase||in creditors|||||||(126,865)|60,240| |(Decrease)/increase||in fees in advance scheme|||||||91,058|(37,673)| |(Decrease)/ increase||in deposits|||received||||(800)|5,200| |Net cash generated|from||operations||||||386,982|537,370| |9.
FIXEDASSETS -|Tangible|||assets||||||| |||||||||Furniture||| ||||Freehold
Land|||Computer||and other|Motor|| |||||and|Buildings|equipment||Equipment|Vehicles|Total| ||||||E||f|||E| |Cost||||||||||| |At 1August 2021|||||7,495,018|277,797||262,082|108,970|8,143,867| |Additions|||||149,700||19,738|34,293||203,731| |Disposals||||||(5,656)||||(5,656)| |At 31July 2022|||||7,644,718|291,879||296,375|108,970|8,341,942| |Accumulated||||||||||| |depreciation||||||||||| |At 1August 2021|||||1,218,501|186,726||166,557|78,875|1,650,659| |Charge for the year|||||155,903|64,113||32,742|6,945|259,702| |Disposals||||||(5,656)||||(5,656)| |At 31July 2022|||||1,374,404|245,182||199,299|85,820|1,904,706| |Net book value at||||||||||| |31July 2022|||||6,270,314|46,697||97,076|23,150|6,437,236| |Net book value at||||||||||| |31July 2021|||||6,276,517|91,071||95,525|30,095|6,493,208| ## ## ## ## ## ## |10.
DEBTORS||31July 2022f|31July 2021
E| |---|---|---|---| |||3,901|8,794| |Fees receivable||87,373|65,065| |Prepayments||12.323|16,574| |Other debtors||103,597|90,433| |11.
CREDITORS: AMOUNTS|FALLING DUE WITHIN ONE YEAR|31July 2022
E|31July 2021
E| |Bank loans (note 14)
Deposits received
Fees received
in advance
Trade creditors
Tax 8 SocialSecurity
Other creditors
Accruals||120,089
14,300
124,973
63,398
47,234
2,775
52,542|119,197
15,100
135,700
69,371
54,516
12,897
156,031| |||425,311|562,812| |12.
CREDITORS: AMOUNTS
ONE YFAR|FALLING DUE AFTER MORE THAN|31July 2022
f|31July 2021| |---|---|---|---| |Deposits received
Fees received
in advance (note
Bank loans (note 14)|13)|107,200
84,205
2,380,670
2,572,075|107,200
52,215
2,501,712
2,661,127| ## |Parents may pay scoo ,

under
individual
contracts. Assuming
pupils remain|in the school, fees in advance
will be ap|plied as follows:| |---|---|---| ||31July 2022
f|31July 2021
f| |Within one year
Between one and two years
Between two and five years|62,034
63,429
20,776
146,239|67,850
30,873
21,342
120,065| ## ||ere|asfollows:|||| |---|---|---|---|---|---| |ovements
du|ring the year w|||Year ended|Yearended| |||||31July 2022|31 July 2021| |||||f.|| |Balance at 1
Less amounts
Add amounts|August 2021
credited to pupils
received through|fee accounts
FIA Scheme|in year
for future years|120,065
(69,795)
95,969
146,239|210,677
(90,612)
120,065| ## ## |The Company|has fou|r bank loans|from the same b|ank secured on|its reeo
a|an g|| |---|---|---|---|---|---|---|---| |||||Interest||Total loan|Total loan| ||||Remaining
term of
loan|rate
payable
per
annum|Loan
repayments
in next year|drawn at
31July
2022|drawn at
31July
2021| ||||||f|f|| |First loan
—Founders
Second loan- Palmer||Loan
Hall Loan|6'/* years
18years|1'
Base +1.8%|35,000
28,519|233,334
742,421|268,333
773,494| |Third loan
—2016 Fixed Loan|||19years|3.7510|30,664|837,485|867,271| |Fourth
Loan|—2017 Fixed Loan||20years|3.810/o|25,906|687,519|711,811| ||||||120,089|2,500,759|2,620,909| |Due:|||||||| |Within one
After more|year
than one|year||||120,089
2,380,670|119,197
2,501,712| |||||||2,500,759|2,620,909| ## |31July 2022, the
dernon-cancellable|Company
had outstanding
commitments
fo
obligations
as follows:|r future
lease payments|and other costs| |---|---|---|---| |||Year ended|Yearended| |||31July 2022
f|31July 2021
f| |Payable not later than one year
Payable!ater than one year but not later than five years||10,016
3,872
13,888|11,806
12,100
23,906| ##