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2022-08-31-accounts

Page
Company information
Directors' report (incorporating the Strategic report)
Independent
auditor's		 report
Finanaal statements of the group and company 22
Notes to the Finannal Statements 27

DIRECT O RS A/YO ADVISORS
Sir R P Sarlain (Chalrmanl
Directors Mr S M Hay MBChB FRCS (Orth) (Chairman) —retired 09/02/2022
Mr M hl Holyoake BSc(Mons) FGS ACMA CGMA
Mr R M Jenkins
BA(Mons) MBA
Mr T kl Parsons
BDS
Mr N L Winkley MA (Oxen) Med (Open) PG Cert Bus Admin (Open)
Mr DTyack MA(Oxen)
M.s A J Thorn BA(Hone) MBE, DL
lYlr A J Barker FCA
Mr T C Pook BSc(Hone) MRICS (retired 08/08/2022)
Mrs H Fitzgerald
MA (Oxen)
Company Secretary Mrs K Mills BA (Hone) MBA
Charity No. 1102931
Company No. 05023969
Principal Address and Registered Prestfelde
School Limited
Offic I ondon
Road
Shrewsbury
SY26NZ
Key Management Personnel
Head Mrs F Orchard GTCL PGCE —retired 31/08/2022
Mr hl Robinson MSc PGCE —started 01/09/2022
Bursar Mrs K Mills BA (Hone) )ABA
Deputy Heads Mr M E Haawe I I 8Ed
Mrs E L Thelwell
BA (I-lone) QTS
Auditar RSM UK Audit LLP
ge Floor, 3 Hardman
Street
Manchester
M3 3HF
Bankers Barelays
Bank
44 —46 Castle Street
Shrewsbury
SY1 2BU
Solicitors Messrs Halchers
Welsh Bridge, 1 Frankwell
Sbrews ho ry
SY38LG
insurance Brokers IVlarsh
1 Tower Place West
Tower Place
London
EC3R SBU

pil number s
at		 the school during the year were as follows'
202 If2022 2020/2021
Preparatory School 243 237
Pre-Preparatory Srhool 110
Total 333 333
During
the		 week we oher boarding on a flexi basis for 3nights per week The school does nat offer full
boarding,

Notes Unrestricted
Funds		 Re sfncfed
Funits		 Tots
I
2022		 Total
2021
Income and endowments from.
Charitable
Activities
School foes receivable 2 4,676,853 4,eye,853 4,D29, 167
Anr, illary trading
income		 3 249,989 249,969 204,817
Othor trading
activities
Non-anallary
tradmg
income		 4 171,265 171,285 62.368
Investments
Bonk and othor interest 5 3 13
Voluntary
sources
Grants and donat one 6 2,387 2,387 50,471
TOTAL INCOM!NG RESOURCES 20 5,100,497 5,100.497 4,366,856
Ex pen drt ore on.
Raising funds
Non-ancillary
trading		 32
Other income generating srtlvlties
Financing case 8 46,933 46,933 47 565
46,933 46,933 47,597
Chari tab le Activities
Education
and grant making		 7 4,740,193 4,740,193 4.010,613
TOTAL EXPENDITURE 4,787,12ti 4,787,128 4,088,210
Net Movement
in funds for the year		 313,371 313,371 278,646
Fund balances at 1st September 3,972,1ti5 32,9ti4 4,0D5,149 3,726,503
FUND BALANCES AS AT 31STAUGUST 4,285,556 32,964 4,318,520 4,005,140

Llnrestrl
died		 Rest r la i ed Tote
I		 Tots
I
Funds Funds 2022 202 I
Income and endowments from:
Charitable
Activities
Schoal fees receivable 2 4,676,853 4,676,853 4,029, 187
Ancillary
trading income		 3 240,969 249,969 204,817
Other trading ertivities
Non-ancihary
trading
Income		 152,373 152,373
In vs st ments
Bank and other interest 13
Other - Grants and donations
Grants and donations 2,387 2,387 50,i171
Other incoming
resources
TOTAL INCOMING RESOURCES 20 5,081,585 5,081,585 4366,856
Expenditure
an'.
Raising
funds
Non-ancillary
Iradinq
Other inrxrrne
generating		 activities
Finanong
coats		 8 43,354 43,354 47,565
43,354 43,354 47,597
Charitable
Activities
Educcaan and qrant making 7 4,739,271 4,739,271 4,040.613
TOTAL EXPENOITUR E 4,782,625 4,782.625 4,086,210
Net Movement
in funds for the year		 298,960 298,980 278,646
Fund balances at 1st Septerrber 3,972,185 32,964 4,005,'149 3,728,503
FLllill3 BALANCES AS AT 31STAUGUST 4,271.145 32,984 4,304,109 4,005,149

Note Group Charity
2022 2021 2022 2021
FIXEDASSETS
I'an gib le aaseN 11 4,483,324 4,209,387 4,463,324 4,209397
Inveslnierits 12 100 100
4,463,324 4,209,387 4,463,424 4,209,467
CURRENT ASSETS
Debtors 13 340,9SB 235,253 407,333 235,243
Cash at bank and
In hand		 353,001 566,451) 288,743 586,446
693,987 621,709 6'76.076 821.689
CURRENT LIABII.ITIES
Credd!Ora payable
Within		 One year 14 629.162 820,593 625,662 820 593
NET CURRENT ASSETS 64.825 1,116 50.414 1 09B
TOTAL ASSETS LESS CURRENT
LIABII ITIES		 4,528,149 4,710,503 4,513,838 4,210,583
LONG TERM LIABILITIES
Creditors psyatile atter one year 15 147,568 133,260 147,568 133,260
TOTA!.NET ASSETS EXCLUDING
PENSION
LIABILITY		 4,380,881 4,077,243 4,366,270 4,077,323
Net pension
liability		 22 61,MO 71,994 61,960 71,994
NET ASSETS 4,318,621 4,005,249 4,304,310 4,005,329
REPRESENTED BY:
CALLED LIP SNARE CAPITAL 17 100 100 100
RESTRICTED FLINDS 10/20 32,964 32,964 32,964 32,964
UNRESTRICTED FUNDS I9!20 4,285,557 3,972.185 4,271,246 3,972.265
4,318,621 4,005,249 4,304,310 4,005,329

Note 2922 2021
9'000 C000
Cash flows from operating activities:
Net cash provided
by operating
activities		 23 197,009 rl70,484
Cash flows from investing srtivitiesr
Dividends,
Interest. and renls		 from investments 3 13
Purr hase or praperty,
plant and equiprneni		 (353,534) i217,763)
Net cash (used in) investing activities (353,531) (217,750)
Cas'h flows from financing activities:
Fir.snoing costs (46,933) (47,565)
Net cash (used in) financing activities (46,933) (47,585)
Change
in cash and cash equivalents		 in the year (233,455) 205,160
Cash and cash equivalents
year		 at the beginning ofthe 586,459 381.287
Cash and cash equivalents at the end ofthe year 24 353,901 686,456

Freehold land is no: depreciated
Freefiold Buiidings - Buildiri&gs e50 years —2% - 5 BB%an cost
-Build:ngs &50 years —0.0074% on cosl
- Swirxnting
pool —2% on cast
-Car Parte'Cage —10%on cost
Freehold improvements —Over the useful economic life of the improvement
Leasehold land -Over the shorter ofthe economic life ofthe asset or the
life af the lease
Computer equipment —25% on cast
Tetephone syslem -10%on cost
Fixtures and filtlrigs -25% on cost
Mat or ve hie les -25% on cost

CHARITABLE ACT IVITIES —SCHOOL. FEESRECEIVABL E E
Group and Charity
2022 202 'I
The school fees income coniprises
Gross fees 5,113r452 4,641,124
Less. Tuiaf si;hulershipe, bursa es end utlier discuunts (436,629) (611,937)
4,6r6,853 4,029,187

CHARITAB LE ACTIV ITI ES —ANCILLARY TRADI NG
INCOII/IE		 NG
INCOII/IE
Group end Charity
2022 2021
5
Entree 211,334 146,250
Entrance fees and registration fees 5,400 12,100
Pupil transpori 14,921 7,932
Cornrnisslons arid related income 4,135 7,703
Sundry other income 14,126 30,832
249,989 204,817

4.
OTHER		 4.
OTHER		 TRADING TRADING TRADING ACTIVITIES ACTIVITIES ACTIVITIES
2022 2021
6 f
Group School Group School
Non-ancillary trading income
Prasffeldo
Iurn over		 Enterprise company trading 95,729
hlanagernent charge 76.817
Leffings
inr		 arne 7,792 7.792 64,515 64,515
Roofs receivable 7,792 7.792 6,687 6,667
Interest receivable pupil bil.'s 858 858 537 537
Other non-ancillary trading income 59,114 59,114 10,629 10,629
171,285 'I52,373 82,368 82,368
5,
INVESTMENTS		 —BANK AND OTHER INTEREST RECEIVABLE —GROUP AhID CHARITY
Unrestricted Reslnrted Total Tot@I
2022 2021
2
Bank interest
3 13
6.
OTH		 ER —GRANTS 5DONAT IONS —GROUP AND C HARITY
Unrestricted Reslricted Total Tote'
2022 2021
f 5
Wilson Vale Catenng 6,255
Government grants - CARS 44,016
Other 2.367 2,387 200
2,387 2,387 50,471

a) Total expenditure —Charity —Charity Charity
Staff costs Support Geo ecialiaii Total Total
(note 10) Costs (Note 13) 2022 2021
6 6 6 6
Coats of raising funds
Ivon enciDaty trading 32
Finanang
cital (nate		 8) 4'3,354 43,354 47,565
Total cost ofgenerating funds 43,354 43,354 47,597
Charitable
expenditure
Education
TeachIng		 2A55,054 355,109 22,156 2,832,319 7,527,435
WelFare 373,788 29,711 452,145 348,596
Pre mise s 3t3,911 453,663 47,731 815,305 652,h73
School administration 3'l9,120 287,842 6D6,962 481664
Grants awards
and prizes
7bl		 (nate 3,3'76 1,724
Movement
in Pension
Reduction		 Defi at (10,034) (10,034) i17,556l
Governance 39,196 39,198 BBATF
Education
and grant		 making 3,136,731 1,502,942 99,598 4,739,271 4,040,613
Total Expenditure 3,136,731 1,546,296 99,598 4,782,625 4,086,210
a) Total expenditure - Group
Group
Sla ffcosts Support Depreoissa n Total Tots
I
(note 10) Costs (Note 13) 2022 2021
6 6 6 5 F.
Costs af raising funds
Non ancillary
trading		 32
Finanr. ing cast (nolo 8) 46,933 46,933 47,585
Total cast ol generating funds 46,933 46,933 47,597
Cherftable
expenditure
Educabon
Teaching		 2,455,054 355,109 22,156 2,832,319 2827,435
Welfare 48,646 373,768 29,711 452,145 348,596
Premises 313,911 453,663 47,731 815,305 652,673
School adrnlnisfraDon 319,120 288,764 607,884 461,064
Grants awards
snd prizes
7b)		 (note 3,378 3,376 1,724
Mavernenl
In Perislon
Reduction		 DeBcif (10,034) (1 D,034) (17,556)
Governance 39,198 39,196 66,677
Education
and grant making		 3,136,731 1,503.864 99,598 4.740,193 4,D40,613
Tote! Expenditure 3,136,731 1,550,797 99,598 4,787,126 4,066,210

b) Grants, awards
and		 prixes (group and charity) prixes (group and charity) prixes (group and charity)
Preslfeltle School makes awards to Individual families to support schooling.
2022 2021
5
From Unrestricted Funda.
Other grants and awards
Prizes and leaving awards 3,376 i,724
3,376 1,724

Group and Charity
2022 2021
5
Remuneration
palo lo auditor		 fur audit servri.es 19,978 18.900
Additional remuneration paid to
auditor for prior year 8,4l)4
Remuneration
paid lo auditor		 For
non-audit services
Depreciation oftangible lixr.d assets
- owned by the Chantah!s Company 99,596 95,9?.i
Operating loess rentals:
—other assets 50,262 25,991
170,838 150,116
8. FINANCING
COSTS
2022 2021
Group end
Charity
5 f.
Group Charity
Bank charges 3,438 3,359 1,872
Other finance costs 35,704 35,704 5,804
Provision
for bad and doubtful		 debts 4,291 4,291 39,689
Corporation
Tax Provision		 3,500
46,933 43,354 47,565

2022 2021
2
The aggregate payro I rusts for the year were.
0/ages end salaries 2, 5'78, 337 2,283,551
Social secudity i oats 237,958 209,779
Othe r pen sion c usta 319,204 380,937
Private medical insu ance 1,234 124
3,136,73'I 2,874,301
2022 2021
8
Aggregate
employee		 benefits of sey management personnel 291,482 347,739
.he number Or higher pe d em plOyeea Whnas anruiel emolurnenta were 860000 Or
more was
2022 202]
sto f(o
f120.00( -2130,000 1 1
The number with retirement benefits eccruir. g:
- in Oertned Benefit schemes was
Ofwhich the contributions amour ted lo Kt4,482 529,755
average
number
ofemployees
dunng
lhe yeai calcu		 lated
on a head count basis, was 109(2021i 93)
2022 2021
Ro No
Teaching 73 62
Other acr ivl lius 38 31
109 93

11. TANGIBLE FIXEDASSETS 11. TANGIBLE FIXEDASSETS
Group and company Freehold
Lend &
Buildings		 Plant &
Equlprneni		 Computer
Equipment		 Tota
I
AI 1n 8epternber 2021 4,363,587 450,673 131,009 4,965,269
Addioons 296,756 ,779 353,535
At 314 August 2022 4,680,343 507,452 131,009 5,3t8,804
Deprociatron
Al ts Beptenlber 2021 331,429 352,266 72,187 755.862
Cha7ge for the year 47,732 29711 22.155 99,598
Disposals
At 31"August 2022 379,161 381.977 94,342 855,480
Net book value et 31"August 2022 4,30'l, 182 125,475 36,667 4,463.324
Nel book value at 31s August 2021 4,052, 58 88,407 58,822 4,209,387
12. INVESTMENTS 12. INVESTMENTS Investments
2022 2021
f
Invsstmenl in subsidiary 100 100
Company investments at 31 August 100 100

Group Company
2022 202I 2022 2021
f f
School fees mes ivable 83,764 76,B50 83,784 7B,650
Trade debtors 16,268 1B,95B 'I2,775 16,956
Other debtors 799 468 BD9 458
Pre payments end accrued inoorne 208,700 114,431 208,700 114,431
Arrio unto due trom suhedi cry 69,828
company
Amounts due from parent company 31,437 26,746 31,457 26,748
340,986 235,253 407,333 35,. 3
14. CR EDIT ORS: amoun ts
falling		 due within one year
Group Company
2022 207.I 2022 2021
f f
Deposih from peran w 17,440 22,200 17,440 22,200
Fees received
lemi		 from parents in advance oF 336,968 435,416 336,968 435,416
Trade creditors 106,998 136,161 1ti6,998 136,161
Taxation and social eer urity 88,169 69237 84,669 69,237
Other credrnrs 14,278 63,223 14,278 63,228
Accrue le 65,309 94,351 65,309 94,35t
629,162 620.593 625,662 820,593

15. CREDITORS: amounts fatling due after one year
Group Company
2022 2021 2022 2021
2 2
Deposits from parents 137,830 133,260 137,830 133,260
Fees in advance 9,738 9.738
147,868 133.260 147,668 133,260

COM M ITMENTS
UNDER		 OPERATING LEASES
Land and buildings Other
2022 2021 2022 2021
8 8
Within 1 year 44,660 t 3,684
Within 1 lo 5 91,863 5,296
l36,643 18,982

2022 2021
8
Authorised
100 Ordinary Shares el St each 1I00 100
Allotted,
called up and fully paid
100 Ordinary Shares af 2 t each 100 10(l

18. ANALYSIS OF NE T ASSETSBET WE EN FUNDS —GROLI P
Charity
Unre stricte Re st noted Share
Capital		 2022 2021
6 8 5
Tangible fixed assets 4,463L374 4,463,324 4,209,387
Investments 100 100 100
Net cur re nt
assets/(\abilihes)		 17,350 32,964 100 50,414 1,116
Lung farm lia(3ilitiea (147,568) (14T,568) (133,260)
Provision
for Liabilities
and Charges		 (61,960) (61,960) (71 oga)
422
.
0		 , 32,964 00 4.304,330 4.006.349
Group
Unrastncte
(I		 Re stringed Share
Capital		 2022 202I
8
Tangible hxed as~ate 4,463,3?4 4,463,324 4 209,387
Net current
assets/(llabllrties)		 3',780 32,964 100 64,844 1,116
Long term Osbilities (147,568) (147,568) (133,260)
Provision
For Liabilities
and Charge s		 (61,9SO) (61,9801 (71,994)
4,2S5,558 37,064 100 4,318,620 4,005,249

Prior Year Comparative
Charity
Unrestricred Restricted Sharc
Cap tal		 2021 2020
Tar glLle fixed assets 4,209,367 4,209,38'7 4,087,545
Nel curreni
ease Isi(liabilities)		 (31,948) 32964 100 1,116 (155,462)
l.ong temi liabilities (133,260) (133,260) (115930)
Provision
for Liabilities
and Charges		 (71,994) (71,994) (89,550)
3,972.185 32,964 100 4,005,249 3,726,603
Group
Linrcstnctod Rcar dieted Share
Capital		 2021 ?020
6
Tangible
fixed assets		 4,209,387 4.209.387 4,067,645
Net current
assclsi(liabilities)		 (31,948) 32.964 100 1,116 (155 46?)
Long turns
liabi)ties		 (133,260) (133,260) (115.930)
provision
fcr Liabilities
and Charges		 (71,994) (71,994) (89,550)
3,972,185 32,964 100 4,005,249 3,726,603

Charity
At 1 Sept Inrx)rn)ng Resouroes At 31
August
2&)21 iesouroes expended 2922
f. E f. 6
Restrlrted Funds
Bursary Fund 14,634 14,834
Chapel Fund 16.,777 16,777
Libra)y Fund 1,363 1.353
32,964 32.964
Unrestrloted Funds
General Reserve 3,972,185 5.981,585 (4,762,626) 4,271,145
3,972,185 5,981,585 (4,782,625I 4,271,145
Total Funds 4.005,149 5,981,585 (4,782,625I 4,394,199
Group
AI1 Sept lnoorning Resourr:es At 31
August
2021 resources expended 2922
E E E
Restrloted Funda
Bursary Fund 14,834 14,834
Chapel Fund 16,777 16,777
Library Fund 1,353 1,353
32,964 32,984
Unrestrioted Funds
Gen era
I Reserve		 3,972,165 5.695,996 (4,782,625l 4,285,556
3,972,185 5,695,998 (4,782,625) 4,285,558
Total Funda .005,140 5,005,006 )4.102,625) 4,010,520

AI 31 August 2072. the group had capital aammltnienfs group had capital aammltnienfs as folio vs: 2522 2021
Expendilure contracted for but nai provided In lhe accounts 169,653 3,459
22. PEHSIDH SCHEMES

2022 2021
Reconciliation of opening
and		 closing provisions
Provision
at 1 September		 56,860 76,160
Unwinding
of the		 discount factor 318 371
Deficit contribution paid (17,087) (16,500)
Remeasurements —impact of eny change in assurnpt ons (1,841) (81)
Provision
at 31		 August 41,250 59,860
Income and expenditure impact 2022 2021
Interest expense 318 371
Unwinding
of the		 discount factor (1,841) (81)
Rerneasurements - impact ofany change in assumptions
Rerneasurem
ants		 —amendments to the contribution schedule
Contributions
paid		 in respect offuture service
Costs reoognised rn income and expenditure account
2022 2021
Assumptions
%per % per
annum annum
Rats of discount 4.46 0.63

ach y ear end period.
2022 2021
Year 1 17,680 17,087
Year 2 18,128 '.7,600
Year 3 7,684 IB,t28
Year 4 7,584
Year 5

Reconciliation
o		 f opening and c losing p rovisions
Period Ending Penod
Ending
31"August 2022 31"August 2021
K) (Es)
Provision
at start of period		 12,134 13,390
Unwinding
of the discount factor (insert expense)		 125 115
Deficit contribution paid (1,308) (1,270)
Remeasurements —impact ofany changes in (3,438l (101)
assurnpbons
Remeasurements —amendments to the ooi trlbuilons 13,197
schedule
Provision
at end		 of period 20,710 12,134
Income and Expenditure Impact
Period Ending Period Ending
31"August 2022 31"August 2021
(gs) (Es)
Interest expense 125
Rem easurem
ants		 —impact of any change in (3,438) (101)
as sum puons
Rcmoasuremenls - arnendmenls to Ihe cor.tribulion 13,197
schedule
Cordri'butions
paid		 in respect of future service*
Assumptions
31August 2022 31 August 2021
% por annum % per annum
Rale of discount 4.31 1.09

schem e at each year end period
2022 2021
Year 1 2,268 1,308
Year 2 2,337 1,347
Year 3 2,407 1,387
Year 4 2,479 1,429
Year 5 2,553 1.472
Year 6 2,630 1,516
Year 7 2,709 1,561
Year 8 2,790 1,608
Year 9 2,874 1,104
Year 10 2,467

2D22 2021
5
Net (expenditure)/income
for the
statement offinancial activities)		 year (as per the 313,371 296,571
Adjustments
for:
Depreciation
charges		 99,598 95,921
Dividends,
interest
and		 rents from inves'. ments (3) (13)
Financing costs 48,933 47,565
(Increase)/Decrease
in		 debtors (1D5,733) 86,024
(Decrease)
in creditors		 (187,157) (49,584I
Net cash operating
activities		 167,009 476,484
24. ANALYSIS OF CASH AND CASH EQUIVALFNTS
2022 2021
Cash at bank arid in hantl 353,001 586,456
Total cash and cash equivalents 353.001 586,456
25.AhlALYSIS OF CHANGES IN hlET DEBT
At 1ii
Sept 2021		 Cash
Ilov/s		 0 ther
non-
cash
changes		 At 31"
August
2022
L f
Cash end cash equivalents
Cash 586,456 (233,455) 353,60 I
Overdraft
facility repayable		 on demand
568,456 (233,455) 353001
Bor row in gs
Loans falling due within one year
Loans falling due after more than 1 year
Finance lease ob/igations
Tota I 586,456 (233,455) 353,001

27.CONSOLIDATED
STATEMENT OF FINANCIAL		 27.CONSOLIDATED
STATEMENT OF FINANCIAL		 27.CONSOLIDATED
STATEMENT OF FINANCIAL		 27.CONSOLIDATED
STATEMENT OF FINANCIAL		 ACTIVITIES —COIIIIPARATIVE ACTIVITIES —COIIIIPARATIVE FfGURES BY
FUND TYPE
Year Ended 31 August 2021 Unrestrlctod Restncterl Total 2020
Total
6 6 8
Income and endowments from
Charitable
activities
School fees receivable 4,029,187 4,029,187 3,512,249
Ancillary
trading
income		 204,817 204,817 71,908
Other trading
activities
Nori-ancillary
trading
income		 82.368 82,368 54,438
ln vs atm ants
Bank and other interest 13 13 1,686
Voluntary
sources
Grants and donations 44216 6,255 50,471 75,577
Other Incoming
resources
Total Incoming Resources 4,360,601 6,255 4,366,856 3,717,058
Expenditure
on:
Raising
funds
Non ancillary
trading		 32 32 557
Financing
costs		 47,585 47,565 29,643
Total Deductible
Costs		 47,597 47,697 30,200
Charitable
activities
Education
and grant making		 4,033.103 7,510 4,040,613 3,695,635
Total Resources Expended 4,080,700 7,510 4,088,210 3,725,835
Net movement
in funds
the year		 for 279,901 (1,255) 278,646 (8,777)
Fund balances
brought
at 1x September		 forward 3,692,284 34,219 3,726,503 3,735.280
Fund Balances at31"Augus't 3,972,185 32,964 4,005,149 3,726,503

2022 2021
Cenual Service Levy ta meet running casts 23,307 1'7,262
15.27 17,26
21022 2021
f
Salary Recherges 171,241 160,607
171,241 155, 5
ta Pre s lfelde
Sc		 hool Limited
during the new 2022/2		 3 financial
year,
2022 7021
Peas in Advance Cainrnissiun 143 227
Salary lkecharges 31,314 26,431
31,457 26,748