2020-08-31-accounts - Prestfelde School Limited

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DIREC	TORS	AND ADVI	SORS
				Mr S M Hay MBChB FRCS (Orth) (Chairman)
Directors				Mr M N Holyoake	BSc(Hons) FGS ACMA CGMA
				Mr R M Jenkins BA (Hone) MBA
				Mr TMParsons BDS
				Mr G Woods MA	(Oxon) PGCE. (Oxon)
				Mr N LWinkley MA (Oxon) Med (Open)		PG Cert
				Bus Admin (Open)
				Mr D Tyack MA (Oxon)
				Mrs AJThorn BA (Hons) MBE, DL
				Mr AJ Barker FCA —appointed 01.10.19
				Mr TC Pook BSc(Hone) MRICS —appointed
				01.10.19
				Mrs H Fitzgerald	MA (Oxon) —appointed	01.10.19
Secretary				Mrs K Mills BA(Hone) MBA- appointed		11.04.20
Charity No.				1102931
Company	No.			05023969
Principal	Address	and Registered	Office	Presffelde School	Limited
				London Road
				Shrewsbury
				SY26NZ
Key Management		Personnel
Head				Mrs F Orchard GTCL PGCE
Bursar				Mrs K Mills BA (Hone) MBA - appointed		11.04.20
				Mrs A Cornell BA	(Hone) —resigned 31.12.19
Deputy Heads				Mr M E Haswell BEd
				Mrs E LThelwell	BA(Hons) QTS
Auditors				RSM UK Audit LLP
				9ih Floor
				3 Hardman Street
				Manchester
				M3 3HF
Bankers				Lloyds Bank pic
				1 Pride Hill
				Shrewsbury SY1	1DG
				Barclays Bank (newly appointed) 44-46 Castle Street
				Shrewsbury SY1	2BU
Solicitors				Messrs Hatchers
				Welsh Bridge
				1 Frankwell
				Shrewsbury
				SY36LG
Insurance	Brokers			Marsh
				Capital House
				1 to 5 Perrymount	Road
				Haywards Heath
				West Sussex
				RH16 3SY

				Unrestricted	Restricted	Total	Total
				Funds	Funds	2020	2019
							f
Income and endowments		from:
Charitable Activities
School fees receivable			2	3,512,249		3,512,249	3,695,323
Ancillary trading income			3	71,908		71,908	149,906
Other trading activities
Non-ancillary trading	income		4	54,438		54,438	109,385
Investments
Bank and other interest			5	1,886		1,886	1,955
Voluntary sources
Grants and donations			6	70,322	6,255	76,577	23,515
TOTAL INCOMING RESOURCES				3,710,803	6,255	3,717,058	3,980,084
Expenditure on:
Raising funds
Non-ancillary trading			7	557		557	25,591
Other income generating		activities
Financing costs			8	29,643		29,643	8,028
				30,200		30,200	33,619
Charitable Activities
Education			7	3,689,380	6,255	3,695,635	3,671,547
TOTAL EXPENDITURE				3,719,580	6,255	3,725,835	3,705,166
Net Movement in funds	for the year			(8,777)		(8,777)	274,918
Fund balances at 1stSeptember				3,701,061	34,219	3,?35,280	3,460,362
FUND BALANCES AS AT		31STAUGUST		3,692,284	34,219	3,726,503	3,735,280

		Notes	Unrestricted Funds	Restricted Funds	Total 2020	Total 2019
					f	f
Income and endowments	from:
Charitable Activities
School fees receivable		2	3,512,249		3,512,249	3,695,323
Ancillary trading income		3	71,908		71,908	149,906
Other trading activities
Non-ancillary trading income		4	54,438		54,438	109,385
Investments
Bank and other interest		5	1,886		1,886	1,955
Other
Grants and donations		6	70,322	6,255	76,577	23,515
TOTAL INCOMING RESOURCES			3,710,803	6,255	3,717,058	3,980,084
Expenditure on:
Raising funds
Non-ancillary trading		7	557		557	25,591
Other income generating	activities
Financing costs		8	29,643		29,643	8,028
			30,200		30,200	33,619
Charitable Activities
Education		7	3,689,380	6,255	3,695,635	3,671,547
TOTAL EXPENDITURE			3,719,580	6,255	3,725,835	3,705,166
Net Movement in funds for the year			(8,777)		(8,777)	274,918
Fund balances at 1st September			3,701,141	34,219	3,735,360	3,460,441
FUND BALANCES AS AT	31STAUGUST		3,692,364	34,219	3,726,583	3,735,359

		Note	Group			Charity
				2020	2019	2020	2019
				f	F		f
FIXEDASSETS
Tangible assets		12	4,087,545		4,035,112	4,087,545	4,035,112
Investments		13				100	100
			4,087,545		4,035,112	4,087,645	4,035,212
CURRENT ASSETS
Debtors		14		228,875	217,160	228,865	217,150
Cash at bank and	in hand			381,287	196,350	381,277	196,340
				610,162	413,510	610,142	413,490
CURRENT LIABILITIES
Creditors payable	within one year	15		765,624	473,701	765,624	473,701
NET CURRENT LIABILITIES			(155,462)		(60,191)	(155,482)	(60,211)
TOTAL ASSETS LIABILITIES	LESSCURRENT		3,932,083		3,974,921	3,932,163	3,975,001
LONG TERIVI LIABILITIES
Creditors payable	after one year	16		115,930	134,425	115,930	134,425
TOTAL NET ASSETS EXCLUDING PENSION LIABILITY			3,816,153		3,840,496	3,816,233	3,840,576
Net pension liability		24		89,550	105,116	89,550	105,116
NET ASSETS			3,726,603		3,735,380	3,726,683	3,735,460
REPRESENTED	BY:
CALLED UP SHARE CAPITAL		19		100	100	100	100
RESTRICTED FUNDS		23		34,219	34,219	34,219	34,219
UNRESTRICTED	FUNDS	23	3,692,284		3,701,061	3,692,364	3,701,141
			3,726,603		3,735,380	3,726,683	3,735,460

			Note	2020	2019
					f
Cash flows from operating	activities:
Net cash (used in) operating	activities		25	364,642	170,726
Cash flows from investing activities:
Dividends, interest and rents	from investments			1,886	1,955
Purchase of property, plant and equipment				(151,948)	(117,916)
Net cash (used in) investing	activities			(150,062)	(115,961)
Cash flows from financing activities:
Financing costs				(29,643)	(8,028)
Net cash (used in) financing	activities			(29,643)	(8,028)
Change in cash and cash equivalents in the		year		184,937	46,737
Cash and cash equivalents at the beginning		ofthe year		196,350	149,613
Cash and cash equivalents	at the end of	the year	26	381,287	196,350

a basis consis	a basis consis	tent with t	he depreciation policy.
Depreciation		is provided	at rates, calculated to write offthe cost,	less estimated	residual	value
ofeach asset		based on	current market prices, over its expected	useful life, as follows:
Freehold	land		- No depreciation.
Freehold	Buildings		- Buildings &50years —2%-6.66%on cost
			- Buildings &50years —0.0074% on cost
			- Swimming Pool —2%on	cost
			-Car Park/Cage —10%on cost
Freehold	improvements		—Over the useful economic life ofthe improvement
			2% - 6.66%on cost
Computer	equipment		-25% - 33%on cost
Fixtures and fittings			—10%-25%on cost
Motor vehicles			-25% on cost

CHARITABLE ACTIV	ITIES - SC	HOOL FEESRECEIVABLE
			2020f	2019 f
The school fees income	comprises
Gross fees			4,263,975	4,121,669
Less: Total scholarships,	bursaries	and other discounts	(751,726)	(426,366)
			3,512,249	3,695,323

3. CHA	RITABLE	ACT	IVITIES	—ANCILLARY TRADI	NG INCOII/IE
						2020f	2019 8
Extras						56,278	109,107
Entrance fees and registration				fees		5,500	5,700
Pupil transport						5,926	7,298
Sundry	other income					4,204	27,801
						71,908	149,906
4. OTHER TRADING			ACTIVITIES
						2020	2019
						8
Non-ancillarytrading			income
Lettings income						40,584	87,074
Rents	receivable					7,134	14,320
Sundry	other income					6,720	7,991
						54,438	109,385
5. INVESTMENTS —BANK AND OTHER INTEREST					RECEIVABLE
				Unrestricted	Restricted	Total	Total
						2020 6	2019f
Bank interest				1,886		1,886	1,955
				1,886		1,886	1,955
6. OTHER —GRANTS			& DONATIONS
				Unrestricted	Restricted	Total	Total
						2020	2019
Government						6	8
Blackburn	Chapel &Theatre Appeal						14,652
Wilson Vale Catering					6,255	6,255	7,510
Library							1,353
	grants	—CJRS		70,046		70,046
Other				276		276
				70,322	6,255	76,577	23,515

7. ANALYSIS OF EXPENDITURE	7. ANALYSIS OF EXPENDITURE
a) Total expenditure
	Staff costs	Support	Depreciation	Total	Total
	(note 9)f	Costs 5	(Note 12) 5	2020	2019 f
Costs ofraising funds
Non ancillary trading		557		557	25,591
Financing cost (note 8)		29,643		29,643	8,028
Total cost of generating funds		30,200		30,200	33,619
Charitable
expenditure
Education Teaching	2,152,477	165,516	29,216	2,347,209	2,236,341
Welfare	43,683	206,195	29,645	279,523	340,159
Premises	213,658	328,063	40,654	582,375	628,753
School administration and governance	279,553	193,619		473,172	479,148
Grants awards and prizes (note ?b)		11,488		11,488	2,796
Movement in pension recovery plan (note 24)		(15,566)		(15,566)	(15,650)
Governance		17,434		17434
Total charitable expenditure	2,689,371	906,749	99,515	3,695,635	3,671,547
Total Expenditure	2,689,371	936,949	99,515	3,?25,835	3,705,166

ac	commodation,	where	a cl	aim is made. Nil trustees (	2019- NIL) were	reimbursed during th	e year.
						2020	2019
						f	F
	Remuneration	paid to auditor for audit services				8,491	15,400
	Depreciation	oftangible		fixed assets:
	- owned	by the Charitable Company				99,515	81,745
	Operating lease rentals:
	- land and buildings
	- other	assets				23,258	21,532
	Reimbursement of personal expenses to governors
						131 264	118,677
8.	FINANCING	COSTS
						2020 6	2019f
	Bank charges					1,019	487
	Other f3nsncs	costs				19,430	7,541
	Provision for bad and dcubfful debts					9,194
						29,643	8,028
9.	STAFF COSTS
						2020f	2019 8
	The aggregate	payroll costs		for the year were:
	Wages and salaries					2,124,283	2,051,768
	Social security	costs				193,192	187,424
	Other pension	costs				370,678	266,198
	Health Insurance					1,218	1,437
						2,689,371	2,506,827
						2020	2019
						f	f
	Aggregate employee		benefits of key management		personnel	176263	163721

STAFF COSTS —Continued	STAFF COSTS —Continued
The number ofhigher paid employees f60,000or more was:		whose annual		emoluments	were
						2020	2019
						No	No
f60,001 - f70,000							1
f80,001 - f90,000
f90,001 - f100,000
The number with retirement	benefits		accruing:
- in Defined Benefit schemes wss
Ofwhich the contributions	amounted		to			520,301	f22,816

The average	on a head count basis, was 88(2019:89)	on a head count basis, was 88(2019:89)
	2020	2019
	No	No
Teaching	58	59
Other	30	30
	88	89

Group and company	Freehold Land & Buildings	Plant & Equipment	Computer Equipment	Total
Cost
At 1"September 2019	4,178,439	397,980	109,812	4,686,231
Additions	70,308	44,983	36,657	151,948
At 31"August 2020	4,248,747	442,963	146,469	4,838,179
Depreciation
At 1"September 2019	250,277	319,637	81,205	651,119
Charge for the year	40,654	29,645	29,216	99,515
At 31"August 2020	290,931	349,282	110,421	750,634
Net book value at 31" August 2020	3,957,816	93,681	36,048	4,087,545
Net book value at 31 August 2019	3,928,162	78,329	28,621	4,035,112

13. INVESTMENTS	13. INVESTMENTS		2020	2019
			F	E
Investment	in subsidiary		100	100
Company	investments	at 31August	100	100

DEBTORS
		Group		Company
		2020	2019	2020	2019
		f	f	f	f
School fees receivable *		79,960	20,385	79,960	20,385
Trade debtors	**	18,967	34,595	18,967	34,595
Other debtors		4,470	11,353	4,460	11,343
Prepayments	and accrued income	95,686	106,150	95,686	106,150
Amounts due	from parent company	29,792	44,677	29,792	44,677
		228,875	217,160	228,865	217,150

*	Trade debtors are net of	Trade debtors are net of	a doubtful debt provision off6,0	a doubtful debt provision off6,0	a doubtful debt provision off6,0	64(2019fNIL)
15.	CREDITORS: amounts		felling due within one year
					Group		Company
					2020f	2019 f	2020 f	2019 f
	Deposits from parents				18,110	16,435	18,110	16,435
	Fees received from parents advance ofterm			in	294,657	198,877	294,657	198,877
	Trade creditors				116,613	50,299	116,613	50,299
	Taxation and social security				50,787	49,739	50,787	49,739
	Other creditors				175,005	109,367	175,005	109,367
	Fees in Advance Scheme					9,207		9,207
	Accruals and deferred	income			110,452	39,777	110,452	39,777
					765,624	473,701	765,624	473,701

eipt of n	otice. Assuming	pupils remain in the school, fee	s in advance will be applied as	folbws:
			2020	2019
				8
Within 1	year			9,207
				9,207
Summary	ofmovements	in liability
Balance at 1 September 2019				9,207
Amounts	used to pay fees			(9,207)
Balance	at 31August 2020

. COM	MI	TMENTS UNDER OPERATING LE	ASES
			Other
				2020	2019
				6	8
Within	1	year		24,272	23,629
Within	1	to 5years		16,099	36,367
				00311	59,996

		2020	2019
		E	E
Authorised
100Ordinary	Shares ofE1 each	100	100
Allotted, called up and fully paid
100Ordinary	Shares ofE1 each	100	100

21. ANALYSIS OF NET A	SSETS BETWEEN	FUNDS -GROU	P
	Unrestricted	Restricted	Share Capital	2020	2019
	6	6	6	f	5
Tangible fixed assets	4,087,545			4,087,545	4,035,112
Net current assets/(liabilities)	(189,781)	34,219		(155,462)	(60,191)
Long term liabilities	(115,930)			(115,930)	(134,425)
Provision for Liabilities and Charges	(89,550)			(89,550)	(105,116)
	3,692,284	34,219	100	3,726,603	3,735,380
Prior Year Comparative
	Unrestricted	Restricted	Share Capital	2019	2018
	6	F	F	6	5
Tangible fixed assets	4,035,112			4,035,112	3,998,942
Net current assets/(liabilities)	(94,510)	34,219	100	(60,191)	(275,515)
Long term liabilities	(134,425)			(134,425)	(142,200)
Provision for Liabilities and Charges	(105,116)			(105,116)	(120,766)
	3,701,061	34,219	100	3,735,380	3,460,461

22. CAPITAL	COMMITMENTS	COMMITMENTS	COMMITMENTS
At 31 August		2020, the	group had capital commitments as			follows:	2020f		2019f
Expenditure		contracted	for but not provided	in the accounts					40,440
23. SUMMARY	OF MOVEMENTS ON MA)OR FUNDS
				At	1 Sept	Incoming	Resources		At 31	August
					2019 f	resourcesf	expended	f		2020 f
Restricted Funds
Bursary Fund					14,834					14,834
Chapel Fund					16,777					16,777
Kitchen Equipment					1,255	6,255	(6,255)			1,255
Library Fund					1,353					1,353
					34,219	6,255	(6,255)			34,219
Unrestricted Funds
General Reserve				3,701,061		3,710,803	(3,719,580)		3,692,284
				3,701,061		3,710,803	(3,718,580)		3,692,284
Total Funds				3,735,280		3,717,058	(3,725,835)		3,726,503
Note 20 provides	details of th'e		individual funds

TPT Retirement	TPT Retirement	TPT Retirement	Solutions	Solutions	-The	Growth	Plan Deficit Contributions
From	1	April	2019	to	31	F11,243,000 per annum	(payable	monthly	and
January		2025:					increasing	by 3% each on 1st
							April)

From	1	April	2016	to	30	September	2025:	512,945.4m per annum (payable monthly increasing by 3%each on 1st April)	and
From	1	April	2016	to	30	September	2028:	f54,560 per annum (payable monthly and increasing by 3%each on 1st April)

. PENSION SC	HEMES —c	HEMES —c	HEMES —c	HEMES —c	onti	nue	d
Present Values	ofProvision														2020		2019
															f
Present value ofprovision															76,160		90,774
Reconciliation	ofopening			and		closing		provisions							2020		2019
															6		6
Provision at 1 September															90,774		115,286
Unwinding ofthe	discount factor														797		1,805
Deficit contribution		paid													(16,107)		(15,711)
Remeasurements		-impact	of		any	change		in assumptions							696		1,706
Remeasurements		-amendments				to the contribution					schedule						(12,312)
Provision at 31	August														76,160		90,774
Income and expenditure			impact												2020		2019
															6		5
Interest expense															797		1,805
Unwinding ofthe	discount factor														696
Remeasurements		-impact	of		any	change		in assumptions									1,706
Remeasurements		-amendments				tothe contribution					schedule						(12,312)
Contributions paid		in respect		offuture			service										16
Costs recognised		in income and expenditure							account								14
Assumptions															2020		2019
														%	per annum	%per annum
Rate ofdiscount															0.55		0.97
discount rates shown above					are	the	equivalent			single discount			rates which,	when used to discount			the future
very plan contributions due,					would		give	the same			results	as	using a full	AA	corporate bond	yield	curve to
ount the same recovery plan				conbibutions.
icit Contributions		Schedule
following schedule		shows	the		deficit		contributions			agreed between the company					and the scheme at		each year
period:
															2020		2019
															f		E
Year 1															16,590		16,107
Year 2															17,087		16,590
Year 3															17,600		17,087
Year 4															18,128		17,600
Year 5															7,684		18,128
Year 6																	7,684

Present Values		ofProvision	ofProvision
				31August			2020 (fs)	31aAugust 2019	31 August 2018(fs)
								(fs)
Present value of		provision			13,390			14,342	5,766
Reconciliation	ofopening		and		closing provisions
								Period Ending 31*'August 2020	Period Ending 31"August 2019
								(Es)	(Es)
Provision at start		of pediod						14,342	5,766
Unwinding ofthe		discount factor		(insert expense)				151	108
Deficit contribution		paid						(1,233)	(502)
Remeasurements		—impact	ofany		changes		in	130	644
assumptions
Remeasurements-		amendments			to the contributions				8,326
schedule
Provision at end		ofperiod						13,390	14,342
Income and Expenditure			Impact
								Period Ending 31"August 2020	Period Ending 31"August 2019
								(Es)	(Es)
Interest expense								151	108
Remeasurements		—impact	ofany		change	in		130	644
assumptions
Remeasurements		—amendments			to the contribution				8,326
schedule
Contributions paid		in respect offuture service*						1233	502
Costs recognised		in income	and expenditure				account	1,514	9,580
Assumptions
					31 August		2020	31 August 2019	31 August 2018
					% per	annum		%per annum	%per annum
Rate ofdiscount					0.90			1.10	1.96

24. PENSION SCHEMES - continued	24. PENSION SCHEMES - continued	24. PENSION SCHEMES - continued
Present Values of	Provision					2020	2019
						8	f
Present value ofprovision						13,390	14,342
Reconciliation	ofopening and	closing	provisions			2020	2019 f
Provision at 1 September						14,342	5,786
Unwinding ofthe	discount factor					151	108
Deficit contribution paid						(1,2331	(502)
Remeasurements	—impact ofany change		in	assumptions		130
Remeasurements	-amendments	to the contribution			schedule		8,326
Provision at 31	August					13,390	14,342
Income and expenditure impact						2020 f	2019 f
Interest expense						151	108
Remeasurements	-impact ofany change		in	assumptions		130	644
Remeasurements	-amendments	tothe contdbution			schedule		8,326
Contributions paid in respect offuture service
Costs recognised in income and		expenditure		account
Assumptions						2020	2019
						%per annum	%per annum
Rate ofdiscount						0.90	1.10

The following	and the scheme	at each year
end period:
	2020	2019
		6
Year 1	1,270	1,233
Year 2	1,308	1,270
Year 3	1,347	1,308
Year 4	1,387	1,347
Year 5	'I,429	1,387
Year 6	1,472	1,429
Year 7	1,516	1,472
Year 8	1,561	1,516
Year9	1,608	1,581
Year10	1,104	1,608
Year11		1,104
	14,002	15,235

25. RECONCILIATIO ACTIVITIES	N	OF NET (INCOME)/EXPENDITI/RE TO N	ET CASH INFLOW FROM	OPERATING
			2020	2019
			F	f
Net (expenditure)/income for the year (as per the statement offinancial activities)			(8,777)	274,918
Adjustments for:
Depreciation charges			99,515	81,746
Dividends, interest and rents from investments			(1,886)	(1,955)
Financing costs			29,643	8,028
Defined benefit pension		scheme
Decrease in stocks				1,544
(Increase) in debtors			(11,715)	(14,588)
Increase/(decrease)	in creditors		257,862	(178,967)
Net cash operating	activities		364,642	170,726

ANAL	YSIS OF CA	SH AND CASH EQUIVALENTS
			2020	2019
			E	E
Cash	at bank and	in hand	381,287	196,350
Total	cash and cash equivalents		381,287	196,350

Consolidated Statemen	t ofFinancial Activ	t ofFinancial Activ	ities —Compa	rative figures by fu	nd type
Year Ended 31August	2019			Unrestricted	Restricted	Total
				f	f	6
Income and endowments		from Charitable	activities
School fees receivable				3,695,323		3,695,323
Ancillary trading income				149,906		149,906
Other trading activities
Non-ancillary trading income				109,385		109,385
Investments
Bank and other interest				1,955		1,955
Voluntary sources
Grants and donations					23,515	23,515
Total Incoming Resources				3,956,569	23,515	3,980,084
Expenditure on:
Raising funds
Non ancillary trading				25,591		25,591
Other income generating	activities
Financing costs				8,028		8,028
Total Deductible Costs				33,619		33,619
Charitable activities
Education and grant making				3,665,292	6,255	3,671,547
Net income				257,658	17,260	274,918
Transfers between funds
Net movement in funds	for the year			257,658	17,260	274,918
Fund balances brought forward				3,443,403	16,959	3,460,362
Fund Balances Carried	Forward			3,701,061	34,219	3,735,280

							2020f	2019 F
Central	Service	Levy	to	meet	running	costs	17,608	23,664
							17,608	23,664

2020f	2019f
192,534	56,733
192,534	66,733

to Prestfelde S	chool Limited during the new 2020/21	financial year.
		2020f	2019f
			1,428
Carbon Reduction	refund	303	264
Fees in Advance Salary Recharges	Commission	29,489	42,986
		29,792	44,678