PLYMOU'I'II C.01.I.F'GE AND ST DUNS"I'AN'b AnBF.Y SCH(M)L4 CHARI'I'Y A coinpaii), limited by guaraiiteel Cliai-itv No.. I10$444 Coinp#ns' Yo- 11$189426 ANNUAI, R Tr.POR'I' AND CONSOLIDATED FINANCIAI. STATF.MF.NTS Year EThded 31 August 2021
PI,YMOU'I'II COI,I.F'CTr: ANI) S'I- I)UNS'I'AN'S AIIBFY SCHOOLS CIIARITY IIF.POR'I- AND FINANCIAL STATEIMF.N'-I'S 31 AUGUS'I. 2021 CON'fi-'N'rs Pag¢ Trusiees. orriters AIlvib015 Trust, Annual IlctMIrt Iliicludiiig'fru%tcos %irJtcgic Ilqx>rtl 3110 Independeni Audiror % R¢rK>n Consolidated Stdieill¢iii of Fiiiaiicial Aciiviiics Cunsuliddled dnd Chai-ily Balance Sheets Qonsolidaied Statemt ol'casli Flows Notes io thc C01i501idated Financial Statlients per h&?ding ort pages 17135
PLYMOUTH COLLEGE AND s"r DUNSTAIY'S ABIJF,Y SCIIOOLS CHARI'I'Y CHARITY INFORMA'I"ION Charity Kegigiration Nuinber.. 1105544 Cvmpllny Regl81ratIOn Numb.: 0%189426 Company SeLirtary'. Mr T Willianis RegisteEd OffiLL.' Plyinouih Collegc Fthyd Park Dcvon PL4 6RN Hcad of the SLnior and Prep School Mrs J Hayward Bur%aT lind Clerk 10 Tyusrecs Mr T Willidins 1¢ day-Ii)-day runiiing ol Il)e Sclieol is delegdied i() Ihe Flvad aiid the Senior L{dEhiP Teain8 respeclively.. Mi% J HaywBI'd Buixir atid ("lo'k lo Cjoveiyor Depuiy Head Acadeiiiic Depuly 14cad Pg£loral Mr A Cair Mr C" Irish TRUSTEES DIRECTORS Detailq of Triimeeq IDiiEcior.81 aiid Dfficer£ of ihe coinpaiiy wlio serv¢d dui'inB the yeAI' 4irc'. Mi. D R Woimjgalc Mr R Lixhi Dr P AikiDfOn MYS. S Seth MrA B1fll MT C Moiton Mr5 A McTrilon MT$ L Clark Mr S Pldni Di. A Williair MI" W Dunbdn MF 11 Cliubb MT P Nunnerley Chair Re5ign¢d 26111 March 2021 Apwiii1¢(11 Nuv¢iiibei' 2020. ChY4ir Appointed 26, March 2021 Vicc Cliair. Resigncd.3" 1)ecember 21121 Resigned 3rd D&anbLf" 2021 R&£igncd 26, March 2021 Apiivinted Vtce Ch&ir 3r Decernber 2021 Appi)inlL'd I. OLiober 2020 Appoinlcd ITI Navciiil)cr 21120 Appoinicd I November 2020 Details 1)f Trusi¢£s IDirector51 and officLIT of Ihc compony who liavc bccn appoilllcd sinc¢ tlic yr-¢nd arc.. Mr A l)aliner Mr J Gri¢i' AppDiiii¢d i 51 %¢piunl)¢1' 21)21 Appoiiiiol 6111 Dcccinbcr 2021 Thc TIusiLw gfcapkK>iiiicd by Ihc Board fnr a Icnr of four ycars. lli£y can bc rc-¢lcthed. ryOMINATF.DIRF,PRTr-.SENTATIVES Plyinouih Univ¢iTIIy University of Si Mai'k 2nd St Joh Not lill Mr S Plaiii Dr A Williains Not fillcd Nol filled Flag Oflicer Seg TitiDing R£Lloi- uf Miiister clil'Ch of Si AndiEw
PLYMOUTH COLI.FC.F. AND ST DUNSTAN'S ABBF.Y SCHOOI,S CHAKITY PROFESSIONAL ADVI RS B£iiikLrs-. Lloyds Baiik l)LC Ri)yal Parodg DevLTrn PLI IHII Wolt¢i'Man5 60104 Nurth Hill Plyirouth Devon PL4 %F.I) Auditors.. BDO I.LP Bi'idgJcwai&' House Couiiictxlip Brisiol BS1 6BX Iiisuraiiic Brokerq.. Marsh Liiiiiiixl Cai)iial Hou8c I-S P¢iryiiiouni Ro¢qd Haywards I leaili Wesi Siisscx RH163SY InvL'.%tinent fvldndgLr.' B1lay5 Wcalih MaiiagonL'nt Ground Flvor W¢4t Tdy Huu4r 300 Bath Sirc4X C,241.11
PLYMOUTH COLLEGE AND ST DtiNSTAN'S ABBEY SCH()OLS CHARI'I'Y TRUSTEES, ANNUAL REPORT INCLLDIWG THE STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Tlic Ti'Jst¢&, whts also diytorS of Ihe coinpany for the pulp05 vf IhL Cuinpanies ALI, subinii Ihiii. aiiiiual Iy()rt and ilie audited fiiiaiiLial hlaleiHciils t()i- tIIc yLal' eiide(131 Augufil 21121. The ti114iicial tateMent% comi)Iy w11h IhL requiremcni8 of Ihc ('.hariii Act 2011, thc Chariiics SORP IPRS 1021 and Ihc Cthmpiiio% Aci 2006. PUIJI,IC BF.NFFIT Th¥ Ti'u4lL¥¥ voiifii'in that tliey have coini)lied wilh cliiiF cluty iii seLiitsn 17 1)t' rli¢ Cliarilies Act 2011 to have dul rescli-d io Ilic publi IiLlil guiclaiiLL published hy Ili¢ Cliarily CammisEion tnr Lngldnd and Wal0% aiid in Pdrticular to iiq suppl¢mcntary public bciicfit guidancc on advanriiiLF a4ucthiian and on fee-Lhai%iiig. The Tiu$tecs and School Offico'.4 actively ¢ncourJge IhL c()niribulion of time, Inoney. r¢soui'c¢s aiid talent acr(Ks ilie full range uf the School Loininuniiy for the furtliei7nce of public bcncfil at tlir loLal. regiDnal 8nd international levels. Alihuu¥h Ihl Covid-19 pandeinic coiiiinuLcl tt) Ilic ability vl. Ihe Scl)wl to 8&8isi Lharilably iii Inany ways, a SiEiiificani n111nher of orgEiTri%dlion% in Ilic Ioc£l1 ui1111iiuniiy. Iiicluding l(>ul Tnainiaincd schiKTrls. comirunily group and local LharitiLS, 81ill bencfiiied firn use of Scho()I faciliiics lor Inuch of the yr and fr()m fiiianLid1 supwri. This support r%?n&J¢(I froin pupils I'undrdisiiiE initiatives and fioin Ih inv()Iveiii¥ii1 LTrf' pupils and starr iii evcnls %ucli as LonLLTE% dnd coiiimunily cvcnis. I'.xaiiiplos pt pi'oj%xt8 thul thc SchrK>l cngagtd in during Ihc ycaT 111cludG iioi cxclu$1vcIy'. Supporting charitits Our pupil Chllriiy C•rnmitLee 1% a Iliijving vrganisation I114t, ev¢n tliough il far les5 dLlive due 10 Ilie effLX15 (if Covicl-19. coniiiiilrN in a ILYSa' way ta benefit cliaritlkns wh¢r¢ li ivas i)n44il?Ic 10 do qo. ThigI7 thcsc appttrtunillQ% l(Tr $Lrvc aihcrf and io particip81¢ witli OElier cominuiiities, our pupils also benefit fiDtn a Iiicaningful iliEeraction with I110sL vuisidL uur Sbhotsl Loininuiiity. W¢ ialt- al Ihc Sclionl suiii)nrlcd nilier cli<ll-Ilio% d.5 Tru%lCQS and Govcrnois. Froin rlic Lder.shIP Tci£ m ihe H¢Jd 14 a Tru%icc ai JeTcmiah's 1£ Ciniierni)I' cl1 Wl'.8'1' Mu111 Acadcinv Tru%1. Maiiy Nlatl'lll%n givc ot Ilicii. c¥pcili8c vnlunlCer l() Lniich IoLttI ehildrcii % %pnits tm% und the SLhMI Nuis¥ is Ihe Welfare Officcr tni. a Ivul hi)Lkey tldm. enmlng lip with local schoo15 The Schi)ol TeLI)¥yiii4e4 hiTrw foi-lunaie il is to have ils faLiliii¢s and looks 10 give oihcrs Ilic opwrluDily to b¢ii¢fil froin thn. During Il)is ycdr. Ilie Ni)i)I'lS piiclie% ai all Sit liave beeii Inaned ID local scliools. Our Iiiinihiiscs liave blxm uscd hy local %dioolq and chariiicq and thc School buildings h8vc providcd to local whvvls ttir hosting music txairs. Wc Offer Junior Sp()rt8 Lcadcr Award IJSLA) accrcditaiioii for our pupil working with ItDI s¢liools. Undw thi$ 8cheme, our pupils qudlify young sp()11s ILa(lers diid drc able 10 ruli evwits foi. local SLh(l()l like Ilie Fthlival ol'swrl nuled below. Dui'ing Ilie ycar, w¢ provided plac¢mt, support and prof¢ssii)iial devel(Ipineni for trainee teachas who wtll work in aiiy part uf the ¢cluvJiion s¢cinr We al0 provided iilJceinellt8 foT individuals cithcr applying for a l)GCF. or who air about lo %lari Il to give Ihcim thc cxperience they require befoit enibarking IliLii- wuiNe. Making Dur fatllltltt &wallllblt to tht commuNIty We Itiake Iiur fuLilitith availdl)le lu Ilie Lt)iiiiiiuiiily in a nurnb- ot. Way5, soinr ot. whicli ar¢ sei oui below. We gTC Iniiidful of Qui. own fiiioncial position and thtrL'forL'. wh¢rL' wc httcl 10 Lharg¢ for wmc ofthc 8Ctivilio4. tlic4c charges w¢r¢ kept to g Ininimuitt. The Sch(Kil Inade availablc It faCilitic Ilimughoul trach haliday pLriiKI for a 'Hnliday Club.. The Fe%livdl uf Sport is a day whci-i local pi-iiiiary %chool% visii l)lyinouili College t()T a l?rtS day COlllTKtiiig agaInl La¢h oih¢Y'. The cvcni in Ilic suminc4' 1% run aniiually by oui. oldcr pupil. and staft but could not bc hcld again thi.% yLar bccau%¢ of thc Cnvid-19 outbrcak. Luul SLOUI Gyoups and oilier sLho()Is Iliis yLar hii'¢d our bunkhour on DaiiiiiaaT for cainps and ouidoor aclivilie8. Thc grDUP5 a150 had i)f ttui. Iminibu%Ls ai ju%t Ili¢ cD41 (Trt-rcplacc11ieni fucl. Wc havc bccii I'unning the C011)bincd C'adet Force in cnnjunciion willi stoke r)Jinerel %chi)ol for inany years now. Thi8 is ll joini proj¢ct with a local Iall]laIned qchool vjhore ivc providc ihe tacililies and statT aiid boili our pupil% and visiting pupils coinL logteihei. 10 eiijoy insp¢Ytioii ot the cnntiiigent. They u%ed the swimining pool 10 ruli swim assessinents for their CCF studellls. l)uring Ihc Euiiirnci-, Thrc Inde DUT facililic8 availt)blc tor the British Yourh Musi¢ Thcfjlr¢. Al40, Higli 5 operated ai the Scliml for the tirsl lini¢ wnning d holiddy Llub for Lliildren of dll ageb an(1 had an extrcinely positive 8lJri 14Jiili d grLal deal ofii)ieres151ivwn. Work1ng alungqi(le the Plyinouili Ai'gyll CaininuntY T1%1, wc wcrc ahlc lo continuc fu Indkc availahlc accoillillodalinn. iiiinihuscs, %1l0rt8 ccntir and mJthy oilio. Faciliiiknl$. School n¢1ghtly at IlcnllilAge CTrurt. 3 PTivate r&idti&l home, made occasional us¢ of the School swilmining p)1 and the Uiiiied Refomied Chu1rh Jt Delgaiiy used the S¢lioi)I Iniiiihu%es un oLc&%ions wheii lEqu¥Ie. Plyinuuili Argyle F.C. uscd Ilic DLlg8ny facility lor training wcckly. Plyinouih Colle&Te suppuit5 Plyiiiuuili Lednda- Si¥iiniiiing C lub Ihwugh lh¢ pmvisian nt'coaih&s aiicl Ilie I'enl at l)elow-cornincrcial rai0% tnr ufic nt thc Sc11(1 swiimining pool. Schwl iiijdc its I1 Ji',iilable to Teaill CJB ailileies and ellie swiiiim¢rq of oilier natioiis In
PLYMOUTH COLLEGE AND ST DUNSTAN'S ABBEY SCHOOLS CHARITY
TRLS'l..b..S. ANNUAL REPORT INCLUDING THE STIUTEGIC REPORT FOR THE YEAR ENDED31 AUGUST 2021
{LC)N-flNiJr.Di
IlursLi'y prfi¥i'amffle
In 4diliiic)n Ic) Ili¢ v¢iy sub%iantiiil b¥n¥filS ihg SLhvul brings IL) our pupils, th¢ local cvtntnunily Aiid so¢icty through the LduclL tian wc
nffcr. nur mcans-to4tcd hui'.4aYy i?IDgi?TllillL ClLai&s a social iviihoul Cl)it to Ilic F.x¢h¢quw'. l461.162 120?0 - £452.7181 of In¢dttS
itsi¢d bursJriL¥ w¢rL pi"ovided in Ihe yedi" 2020-21. The SLhuul pareiii% feeg for Ilie I'undinLT Qt bursaiikn and onc child benctiis
from a l OOD/o buisary.
¢catIo17 of thcii. ehildrcn. such as discouiirs ti>r Lh11drL who8e par¢nt& scrvc iii IIM Ai'niL(I l.-oirL% aiid Sibling discounis whci-L parent
As a charity, all Ihe inloine of ihe School mu.st hL Uppli for eduLalional puTroses. As dn eduL(Ili01141 charity, wc LYljI)y lax ¢xeiiiptions
oil our Ldu¢iiliiinMI HLlivitiL% providcd Ili&se lire applied lor our cliaiiiable 4iir5. AN d Llidrily, we diL" Hlso ¢iiiiiled 10 dn 800/0 r¢ductioii on
our busin¢ss i?tcs on Ilic pn)periy we occupy tor our ¥hariiable purpo8e8. Thc tinancial bLnLfrils we I'ccciv¢ fnr Il)L%c tax exaiiptioiis ai
educational charity wc arc uiiablc 10 rcclaim V AT inpul tax ()11 Ihc Iiiajoi'ily ot'oui. co%ls, IliLy al-c cxeiiipt tor V AT puiyo%es. WL. 8180
Ply lax as aTr employ. Ihrougli the PAYE aiid iiaiional ittsuianLe wntribuliuii% wc Inakc.
OBJECT&AIM& OWEcfivES ANDACTIVITIES
Objects
The vbjects for whiLh the Company 15 ¢stsblislied ar¢ the advanLanLnt of Ili¢ ¢ducatioii of bcTrys and girls in accwdance willi thc Christian
faiili. In pa11icular. but withtjut piijtsiliLL 10 the geii¢raliiy ol. Ili¢ liiregoiiig, lu pii)vid¢ aiid Lon(Iuci f? day vi- d day aiid boarding school or
sehi)ol% in which religTous insthvttioii is givcii in awordancc wilh the doLlrinL% ot'tlie Cliurch ot- Lngland lid any 3ncill1Y oi. iiiLidc511cil diid
vthLr associaltd aLiivitits fui. Ili¢ benefit uf Ilie L¥)iiirKIuiiiiy.
Thy SL17 proviileb LontlllUOLlS educatioii froin agc 3 yLr$ 10 18 ye4)t%. Btkinding is availgblv troin agc I l. or Ixi'licr th¢
PLYMOUI'H COLLEGE AND ST DUNSTAN'S ABIITrY SCI4001,S CIIARITY
TRUS'I'LES, ANNUAL Rf.PORT INCLUDINC. I'HE STRATLC.IC REPORT FORI'HE YEAR ENDED 31 AUGUST 2021
(CON'I'JUD)
Ai (i('sfilGC£E, thc raie19-41A CI 9301,, with SlQ/Tr of gradcs ai 9-71AA Icv¢l Overall 730/0 of our pupils acliicvcQ fTve or
morc GCSE gradc4 at grade 5 and above including English aiid Maths- 8 key indiLalur ol. suiiabiliiy ftjr liigli¢T-level study. Ai Ili£ IDP
Lnd, 320/0 d¢lii¢ved eiglii or iiiore 9-71AA grade%. with 15.kn achi¢ving all gi?de 9-71AA. 'I'hL avg¢ i)oint% for gil'l.4 was (1.6, whilc for
hoy% it Wl£ s 6.3.
Ai A Icv¢1. we Achicvcd a l OOU/n Pa$ Talc With 51 Qlo of grad&s being at A or A standard. 350/0 of th¢ A level pupilE aLhiLvd d puints
SLure of 144 sji. dbov¢. r(iuivalenl to Illite A gradE5 al A level.
The BTEC re%ult.% We 150 very goocl, with 730/0 al Irii?le disliiiclion Dr btticr. Thi% 18 also equivalent to thiye al A ILVUI.
As in a usual year. Ilie5e reiults Jllowed Dur piipilb 10 dLL¢S5 couise% 91 g wide ran8e ol'exccllcnl univcisities an<1 the c()ui3&s that they
wait on 10 $tuily were i'oi'ied and lipOrtant.
The Schi)(Jl thhos Of Educate. Eni-icli aiid EIHptsw¢r I. tuiidaincnlal iii giiiing our PLipil% th¢ knowlcdgc and ability lo gtiain such a
tahulou8 iTrngc of Cxiiininalion Irsulis and nIve111Y de%iinaiions. but everyihi11g w¢ do at Plytnvuih CullLgrL' inNtils a rich range vf skills
thai 'vL. uur pupils wcll boili wlitle at %cli()Lbl aiid liTrr Ilieii. lil¢liJiib pur8uiis. We arL proud Dl. Ilic achiLvLyncnt% our pupils In8ke both
withiii aiid beyoiid the Llassrooin. aiid we caiiiiot hopc Iii li%1 all Ihc varied and woiiilcrful things that oui- pupil.% g¢hieved iIi 2021.
PrLy pupilb have a8ain It)a(IL Lxiell¢ni aca
PLYMOII'I'H COI,I,Tr;G"Tr. Af44D ST DUIYS'I'AN'S ABBEY SCIIOOLS CHARII'Y
TRU%I'I:FS' ANUAl, Htr.P()R'f INCLU'DING THE STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2021
(Co.TINUEDl
Oiher A¢iivitiL
Tlii Ovtil(?vi- F.cluLdiiun provision, Duke t>l' Ediiiburgli Awarcl SLh¥illV, Ten Tc?rs. Young Enicipi-lse. Coinbined Cadet For& aiid
Alviiy%ide Ilie d¢liv¥iy LTrf ilie Oulcloor AdvLniurL' Llunent <it Ilic Level 3 BTEC eouFSL'. wliiLli iiicludes thlwiy 1th5on. aii(l a diiy Df
.1 lic C.'OVID- I L) paiidLmic was slill in tull swiiig. rJiho' Ilian 017iYiD8-cxlrcl II-Ip%, IVL. toLUSL i)n piuwidiiig, IhL' bLI -eoie piovi%ion
Ilidl we ci)uld. ThL4L' WL'IL'- ThL' DukL of EdiDliui¥li s Award. Teii Tors, our .klY Ouidooi. Clubs, Ilil Ouid()oY clciiiemr ol Iliu l.cvcl 3
B'I'LC aiid AL'tiviiy WLLk fur ytdl'4 7. 8. 1). 10 aii
PLYMOUTH COLLEGE AND ST DUTr4STAN'S ABBEY SCHOOLS CHARITY
TRUSTEES. ANNUAL REPORT INCLUDING THE STRATEGIC RFPORT r()R TTrIE YLAR I.-ND¥'D 31 AUC.US'I- 2021
ICON'I'IYUI.D}
'inaKelhl Revieis
The Trii%ie¢41i?d pirviously reviewed ihe findn¢ial ILe] aiid siratsgy of lh¢ Iwo.Klioo15 and ha(1 Lrealed a plaii lo inake Ilieiii p-te
iiinrc ¢tl¢ctively wiihnul clianging Ilic quality (?t'thu IL8¢hing, th¢ SlOal carc providcd tsi Dui. pupil.s oncl stsff and ihc Inaintcnance
of the facilities. part vf this Tewiew. the (lecisii)ii was taken io relocate th¢ Pw SLhiM)l Ilie SL'nior Schuul sile al Ford Pdrk 10 enable
site nn limc at the beginning of Septeixhw. The fonncr siic of Ihc Prcp Scliool. Ihc Millti¢ld4. iq bcing sold and tlic %clling Jg¢nls foT the
%iIL aiy Savill%. This tILLliolcl dSi¢l in Si Duiislaii 5 Abbey SLhool I'rusl al a Il¢ein¢d cost of £5.45 Inillion. based 011 an -exi51ing use
valuiltion can-ILd out in Sq)iunbLI- 21118. 1 lowLvci'. Sav1118 havc rccomincnd¢il 8 salcs valuc o1.£2 1)5 Inillioll Iliis li$ IL8ultcd ill an
impllinnLnl vn prupthy vf £435.774 dnd a los% on revaluaiion of lixed assets of £2.064 Inillii)n tor Ihe ycar en(led 31 Augusi 2021. This
eveiil haN had ali IiniiacE oil Ihc rcpuitcd confiolidai¢xl ILsuli% lor PlymDuili C'DIILgc 8n
PI.YMOIJTH COI.I.F.GF. AND ST DUNSTAN'S ARBF,Y,SCFIOOI.S CEIARI"I'Y
TRIISTf.F.S' ANNUAI. RPPORT INCI.IIDING 'I'IITr: S'J"KA-I'Tr-.GIC REP()R'f FOR 'I'IITr: YEAR &'NI)kD JI AUCUS'I- 2021
ICOYTINUEDI
R¢s¢i'v¢s Polic
ie Tru51ees i)olicy Is lo build up tuncl% out rif annual opernlin¥.¥urplii¥r5, ubJeC1 lo IhL pricTri' cleiiiand.% of fuiiher LaPltJl ¥xpencliture Ii)
equip the Schotsl with the up 10 datc facilities nceded 10 1nainrain Ilie staiidayd ot cduc&iional services ¢urrently providcd.
The Ti'u51ees Diin lo i341a1 gcncTdl I'i'.%th-v&% cquivalLni 10 ai Ica.$1 3 Iri)nili% ot Dpcraling cxpcndiiuiE fDI' Ilie %cl)ool. Al .31 August
2021. tlie group ¥¢n¢rdl res¢rv¢s werL' £4.98 irtillioii, which teprLsenlS ovei. 6 moiiths ()t' uiir¢stricrcd opcraiing exndituL. T11e
Nutes IS 16 Show Ilit allolaiion ol. thc n%LI'ves l)eiw¢en Iho¥e d¢signat¢d for spLLitib purwses èiiid Ihuse dvaildble tor the day-10-
day Iwuirelllcnt of111c School.
Plalls for Futui'c Peritsds
EiclwNliip Teain suppomed by thc Truslee4 coiiliiiue to review tlie various aSPeLiS of the Scliool IllLluding Ihe esc¥iL's Inasier
plan, f1nan¢ial 1Lftruciui'ing Jnd cnnrinuing 10 woII( on simplifyiiig IhL group StruciurL. A -Fivg Ycai- Maintenanc¢ lld C.1I1l11al
Adinissions D¢partmLnt. In addiliun ILTr Ihis, d ngw D¢v¢lvpin¢ni OttiL¢ wgb open¢J ai Ili¢ b¢g¥iniiing o( S¢pieiiibii' 2021 wilh a vivw tu
nd inicmaiionally with gg¢nts and inve%tmeiil in targeted online markeiing cainpuigns.
STRUCTURE, GOVERNANCE AND MANAI:EMEN'I"
ThL Lhai'ity is a chariiable LOTnpany liiiiild by ¥Ucii7nlLY and was inruw1.dtcd on 26 July 2004. li Ib govu'iied by a Meinoranduin dnd
ATticl& of A%%)ciaiion. In thc cvcnt rhc ci)Inpany bcing wouiid up no 1ncmbci' w111 hav¢ to pay ali aiiiouni cX¢ding £1 O.
Tlie coini)aiiy begrdn oi?cralin8 l Scpi¥inbiy- 20114 and Wds inc()iiiDiztd ID run thc coiiibiiicd schtJnl% Trt. Plymautli C.Dllegc and
Mannamead School lesldbli%hLxl 1877) and Si Dunstl,S AbY SLli
PLYMOIITH COLLEGE AND ST DUNSTAN'S ABBEY SCHOOLS CHARI'I'Y TRLSTEES, ANNUAL REPORT INCLUDING THE STRATF.rIc REPORT FOR 'I'II£ YF.AR F.NDTr:D .11 AbGiJS-I' Z021 IC'.UN'I'IN'UEDI All Tru8rc¢q giv¢ ot'iheir timc frccly and no rclruncration was paid dring the yL&rcxccpi l(giliillatc Irawcllillg ¢xpene%. The pay and IHiiuneraiion of eiiiployed Key MJiidgemeni Purs01?n¢l are sel apFrt)intineiil dnd Irvicwcd annually. %evcrnl criieria are in 5elliiig pay.. Naiure of the role 311d iEspuiisibililies "11ie 8ecloravLTagc salary ftsr cDiiiparfiblc positions Trrnd% in pay RISK MANAC.Tr'MENT Ri.sks arc Idciilifid. a%%ess¢d aiid t()ntr()ls esiablislied by tli¢ Trus1¢&%. a%8isleil by the Lea(l¥r5hip Supi)()11 Group aiid Swiior MdnJgJ¢Tn¢iii T117%, tlii'ouglioul Ilic ycar. A tonnal I'eview of tli¢ Cliai'ily Risk Managcincni pr(¢SeS is undcrtakcn by th¢ Board on annual basis. The Trusiees hav¢ a5%essed th¢ ri%k4 11) which Ilii SLliwl ib ¢xpos¢d. including ()i)erdliiinal aiid tinancial risk4. In Ihe opinion of lh¢ TrU51cL, Ilie C'harity 11£1£ Ls13bli.shed re[CL an(1 rcvicwcd sysion%. whicli should allnw Ilit i-i.sks idcniificd In hc miiigaicd lo an acccpiblc Icvcl 111 Its day-to-day operaiioiis. It is rccogni.rd that syst¢ins can Dllly piyjvide msonable but not ab]Ul¢ assuronce ihai mdjoi. 1.isks have b¢eii adequdtely iiiaiia¥ecl. Th¢ majoT risk% are sei out bclow witli the School-s SlidIg 10 addiEss Ihein. Piipil ttumbtrs Gi'uwinbw aiid Indinlainiiig pupil iiuiiibw-.% Is * InqjDT I'i%k foi. Ilie indepeiident %clionl sector a% parcnl.% IE Cr£kk Ilic cDunlry urc fiiiding th i11clIrtg indcpciidciii scliool tccs arc bwoming ILS% and Icss affDrdable. The dein(Trgrapliic of Plyinauih is finding this particulady clidlleiigbing. Withoui eiTective In£irkLiin¥ uf whdl Plyiiiiiuili Collrxc is dblc Iv (Trffer with th¢ ad¢lilional ben¢fit IhL School cgn brin8 10 Ihc pupils in Icriiis of developing confidLnt aiid talcntcd yOLJiig pcoplc. rh¢ Schwl will suffcr a de¢lin¢ in pupil nuinbcrs. Quglily ot'teRchin8 The qualtiy i)f iegehi1)g aiid coacliiiig nccds io be constaiiily illonilored and upgizded Hncl IhL ¢VIrOnmEil r()I' educdtic)ii tv iiiodeiiii.sed whaE api?Ini?iiate-. oiigoing work to IniiJr()vc Ihc Utili.tin ot- pui)11s Rcli dLlllIL Ifdcking data is bciiig puiformv(I lo fiKus attenlii)n as n¢edixl in thi.4 art¥. The ¢OSL% of piowidiiig edueaiion is Colllinually inci.<Il1g including Ihe cost of uiiliiies and Ihe coqt of tvul. Externl rlsks Thc]f drc a nLJinb¢r of I'isks thai ar¢ ouiside ol'our coiirrDI. suih gs Ili¢ cunLnl poliiic?I cli1nat¢. pupil nuinbci's. tlic tliyeal nt. VA T heing iiiirodilc Dli indcwidcni school fccs. Ihc poicniial loss of Imandaiory busintts rarc rclict'and IhL iimpgci ot. Ihc Covid-19 pan(l¢inic. Thw risks ai'c f1nnly oli Ili¢ iidai. of .1 rusl¢&%. with tinaiici1L I stratcgy and cniitingcncy Inca%uros hein8 clcvclopcd to miligatL thc tisks. Reputatlonal riiks Findlly, Ilie iisk 10 the busin% of the School thai could be caused by a loss of repuiation is ali eleineiii 11181 iieed£ constant review Ilir(iiigh uur r¢¢ruiliiieni of good sialy, prDvi%ion of a fatrc ¢nviraiiinf¢ aiid rabust behavioural well a% Iq¢alili aiid %ofety and Sal¢guJrdiiig policics. GOING CONCERfv AND LIQUIDITY RISK DISCLOSURE Th¢ Char11y s uoir acliviiics, togcihcr with factors lik¢ly to gtllxt ils dcvc10pml. pcrfoi'ni<iii¢C aiid position wiiliin thc Iiidepend¢nt Scliool .q¢ctar ale oui in Ihc above paragrap115. Siinilarly. Ilit financial positioii.% of the Lh41'ily. Ils cJsh flows. li(iuidily pvsiliiin gn b(iFruwing lauililirs *1e de%ci-Ibrd bDih In IhL prLLcding i)ai'agrapli% and 11) Ih¥ dLiail of Ihe auiliicd acc(JUTIL4 tli4?I tDIIow. Plymnuth Ci]llee and St Dun%i&n's Ahbcy Schao18 Charity mee15 Lis day-to-day working rcquiTall¢n15 thiDugh all ov¢rdTaft facility, ThL Ir0 Inain a1ea8 of UliCCTiainiy rclate 10 the TralIng InDdcl and Ihc tinancing of Ihc scliool. Thc-frufiiccs havc caii'icd out a dctciiled review o( all Ilie ri%ks aiid Ilie liiiancial iinpaci. Tht sLhool offered fce discount% while th¢ sLhool was Closed 10 pui)il4 the i)upils could not IKmctii tinin Ili¥ ta¢iliii¢s. A roqiNciuriiig CXLrLisc was Dl40 uDdwt<ikcii with a cost cciilrc rciiicw. MIL Charity foirc8SIS a11d prOJr10n5, iaking iiito awounr I'easvnabl¢ aiid pvsbibl¢ Changes in IrHilinL i)eif()rtndnce, %huw thai the Chariiy %liould be abl¢ to opirate wiihiii tl?e le4 of its curreiil facility. Statemenl of Tru$ieef' Responsibilitie$ Tlic T1'uslccR (who If 11140 diirclnis 01. ljlymnuth C.ollcgc aiid St DunFlan % Ahl)cy £Lhools Charity for Ihc purpogc% of coillpany lawl are Tespoiisible foi. prcpariiig Ihe Tiusteeq Alliiual Repvn linc(iry)orating th¢ SirdtegiL Repurtl the findnLidl 41diemeiii% in accordanc¥ with applicdble law an(1 United Kingdoir (ienerally Acc¢pl¢d Accovnling Prnclic¢ IUDilcd Kingdoin Accouniiiig Siandardl.
PLYtVIOUTH COLLEGE AI44D ST DUN.ST AN'S ABBEY 8CHOOIS CIIARITY TRUSTEES, ANYUAL REPORT INC.LUDlh'C. THF. STRA'fi-,c.IC RF.PORI- TrOR TIIL YEAR F.NDfr'I) 31 AUGUST 2021 {COliTINUEDI Coinpaiiy law lEquIr th¢ Trusiees 10 prepare tinaiiiial siateinent% tOT each finaiicial y¢ai'. U11dcr cotnpdny law. fhc T1tl.¥ Tnucli noi oiiipany and Ili¢ gri>up and of the incoming rcsource& includiiig the incoinc and expLftdilurc nt'tlic chfti'iiablL grvui) tor tliai pei'iod. In sclcci quiiablc accouiiiing roliciLW and pply Ihan consistently., SIIL whuihci. api)li&iblc IJK acci)Uliling %iandard% have hccn tollnwa. sul)j¢ci 10 aiiy Inalcrial depai'tures disLlI)sixl diid will eontinue in bLISIIItsS. ie TrLlStee4 air ir51]51b]e foi. kttpi118 Ilde(iuntC 3LL<)Ullting Iroir(l% thai are sutYILiLni 10 slKTrw explain the chariidble coiiipany s and Ihc gmup'% h-aiisactiOn4 and disclTr4e with IraFoiial)Ic accui7cy ai aiiy ii1nc Ihc finiincial i)1)sili()11 i)t tlic chariiahl¢ LoInlnY aiid giDup aiiLI enable Ihejn io ¢nsuiY Ihai Ili¢ financial siaieii?¢lll% Lonii)ly with rhc Coinwiiie5 ALI ?006 and Ili¢ k)i-()visiOn. ot Ihe LhcTrrily.4 ¢onslilulion. Micy i?rc al.En Ytrixin.%ihlc fi)I' leSal1n8 th¢ of Ihc charity and Eh¢ wDuy aiicl hfflice toi. takiiig sieps lor the EveIlUll ynd (l¢teLiion ol'trnud and oth¢r ItT¢gulaiyti. S¢ai¢m¢nt x$ to dIsclosr¢ ot. Infoi'mitioh to Auditors Eacli ol-IliL Tru%iee% i)l-Ihe LiiIMpully wliii hcld c?fliLr 41 Ihr J411i uf dppiTJval ol'tliis IWOrt, as sd out above. ci)nfirin that.. o far as ¢wcli T1'usi iq aware Iherg is iio relLJV%?iir audil tnfomiaii()n ot'which th¢ co11)Y s uditi)r% Ilfc Ullawdrc.. and ¢ach .1-1%1¥ has lak¢n #ll the si¢p$ rliar Ihcy ought 10 have iakrn a.s a 'fruslcc Iii uids. ID be aw*re ol. Iiiiy i-elevani Budit int()iThialiun neL'ded by thL audit()r% in C]ne£1101] with prq)aiinE their rep()M and 10 esi&blibh ihar thc coinpany s auditors arc uwaic ot'ihai infrormiltion. In dpproviii¥ the Trustee% Aniiual R¢port. W¢ 8Iso dpprovt Ilie Sirategic Repc)ri inLluded iherein. iii vur capaciiy as conipany diiE¢IOI5. This I'epori wa% #ppri)vLd hy il)t Bi)drd (In . 7th 2u22 Ichatrl io
PLYMOL'TH COLLEGE AND ST DUNST AN'S ABBEY SCHOOLS CHARITY
INDEPENDENT AUDITOR'S REPORT TO MEMBERS OF PLYMOUTH CULLEGb AND ST DL'NSTAN'S ABBEY
SCHOOLS CHARITY
Opinion on the finothtijl 5txttmtnt4
In uur vpiDioii, tlie fin2L ncial stalLinenls'.
¥1 a true aiid tail. vic¥v of Ihc %latc of Ilic Ciroup .5 and nf tlie PaiEnt Chariiablc Company s affgirs as at 31 August 2021 and
of the Gioup s inwming resource4 anil dppliuiivn of reSLTrufLe%',
have bel'ii piupei-ly pr¥pdiixl ill aCL'¢)r(laiicL with Uiiiiecl KiTrgdoiii Ciriiurally ALL4)td AcLounling l?rnclicc,- aiid
havc bccTr p1.£par1 iii ac¢ni'danc¢ willi Ilic rcqiiirc411cnis of Ihc C.'01nP<111iQS Act 211fl().
We hav¢ audited the financial slalcinc]il% ot. Plyinouth C.ollcgc £111d Si Dun%ian % Abb¢y Schwls Chai'iiy I"Ih¢ Par¢nt Charitable
Cotnpany-l aiid its suh%idi&ry l-.tlic Gioup") for 111¢ yffdr encled 31 AuLTUS12021 which coini)rise the Coiisolidaled Stateiiieni Of Fiiiancial
ALlivitie% linLoiy)rdlingb iiiiDine 2nd exiK'ndilui'e aucuuiilsl, C.onwlid8icd g11(l ('Iiarily BLilaiicc Shccls, Con501id8lL¢l Siai¢incnt of c.ash
Flniv.s n(Jtc% 10 Ihc fin8iicial stntcincnl%. incluiling a suinmary of significaiii accounting puliiigs. The finaiiLial iipoitiiig frdinework
Stand
PI.YMOUTII COI,I,F.C.E AND.ST DL'NSTAN'S Allllb-y &CIIOOI,S CIIARII'Y
INDF.PEIS DEN'f AUDI'I'OR'S RF.P()RI' I'O MEMBLRS Ob PLYMOUTH COLLEGE AND ST DLNI STAN'S ABBEY
SCIIVVI,S CIIARI-I-Y (CON'I'INUEDI.
ad¢4Uiiie dbLOUliliiig reLtsrds Iiave llLTrI b]7 kepi by ilie Paieni cli4in1?b]e Coinpany, or ittunis odcquaie tor i)ui- auditjii VC
cn IfLLIVLd li'oiii brniieliL% nttt viil¢d hy UN.. OT
IhL Paiettt ChdriiDble colpanY finaiiLlcil.%laleiii¢iiis are noi iii agrccincni ivith tlie dL¢VUlltiDg rlxoi'ds and rcturns,- ar
Lei1din Lllsultssurl ol. DireLiuiy iYmuiiLlldTiun SPeLilied by Idw ar¢ not Inade. oi.
Rwpoiisibiliti¢s ol'Trustees
As LxplkTriliLxI iiioiy lully Iii lh¢ Trusi¢e5 res1)r)n.%ibiliiie¥ $14iithnenl, the Tru51ee4 Iwlio 81.¢ also Ihe diTLxlors rjf th¢ Lhaitiable coinpany toi.
Ihc i)Urrni% of comp(Iny lawl arc rc%pon.siblc f()1' IhL piepaitlioii ot'thc tinaiiLial siaieincni.q tilict toi- beiiig S[1$11¢{1 Ih#i Iliey give d true
and tsir vi¢w. and tor su¢h In-naL uoniiY)1 IhL TTusl¥e5 dLteniiines 1% n¢CCSSAly 10 enable thL prL.pjTt1Ott of tinai)cial .slalcineiils Iliai
Iii pr¢pai'ingi the liiiaiiiial Slaieiiienis, Ihty Ti-u%iees arL respon&ible for assessiiTrg tli¢ Group s and the P&reni Chariiable Coinpany S 4bility
acL()unling unl¢ts.s th¢ Truste¢5 eit11 inrcnd 10 liquidat¢ the Gi'oup or the Parent Chgl'ililblc C.onipaiiy ar 10 Lcasc npadiii)ns. or hdvc iia
lislic alicrnaiivc bui 10 do so.
Audittsr's re5pollsibllitlc¥ fur thÉ' audit of the fin¥ncial statemeiits
W¥ liav¥ api?oinied au£lilOF undLI- IIIL Cump&iiiLS .4ci 2UQ6 aiid I'wi)rt in a&or(lai)i¢ wilh Ihe ALI and iylevani regulaiionq made
or h4viiig ¢ff¢LI rli¢r¢uiidw-.
Our objeLlives to obtain aOnabl¢ d%surance iibout Wh¢1h IliL tinancial staiLinL'nt% as a whole tr¢£ tix)In Imalerial Inis%iaiein¢iii,
wlieiliu. due if) tinucl i?r rrrui., ancl Iu issue ali dudilvr s reFK)ii Lliat intylu(1¢s Vr opinioii. Redsuiidble assuraiice is a higli level ot.
assuraiicc, bui is noi a guaranicc Ihai an audit Lon<luLILd in aeLOFdL?ncc with I%A% (UK) will alwdy.% dclccl 3 iiiaiei'ial n115stIlLInè'nl whe
it exists MI.5[alne1]ls ian ai'ise fi1 I'rauil vr ¢n'ui' aiid Jie Coilsider rndtLYial il., individually or in Ihc aLgr¢gatc. thcy could
InEgulai'itie%. inLlu(liiig traud, dre Insuiices of non-LoinpliaiieL Wlth laws aii(I I'cgulalions. We dL%igii proccOui'¢s iii IinL with Qui.
proccdurL's are capable of dLiieLliiig iTrcgulllritlC%. IllLludiiig traud is d¢i
PLYMOUTH COLLEGE AND ST DUNSTAIN'S ABBEY SCHOOLS CHARI'rY
INDEPENDENT AUDI'I"OH'S REPORT TO MEMBERS Ob PLYMOUTII COI,I.Tr.GTr. AND ST DUiYSI'AiY'S AIIBEY
SCHUULS CIIARITY (CON'I'INUP:I)I.
') WLbs'11¢ ai.. Iuiii 5'./IIyknciv.Irc.oi'
sihilllic. Thi8 dL1-1p11lln fonns i)1< It (Jf nur aLJdili>r's rcport.
Vst of oiir report
T111% r¥i)01I is 11111 de snlely to thc ('hai-iliiblc Ci)Imi)
PJ.YMOUTH COLLEC.E AND 8T DIINSTAN'S ABBF.Y SCHOOL,5 C14ARITY CONS()LIDA TLD %TATFP*IFNT OF F.1ANcIAl. ACI'IVI flLS IINCORPORA'I-INC INLOME AND EXPENIDITURZ ACCOUINTI FOR THE YEAR EINDED31 AUGUST 2021 Noie Unresii"iLied Rwtiicieil Eii(kiwincnr otal Fund5 Total 2021 202 INCOMTr. AND LNDOWMLNTS FROM.. School fcL 7.429,049 7.429,049 7,468,4.11 At]L&llthry TnL'tsrtTrL 779522 77Y,522 I,D40,579 Doiiaiiojis. iiiidlg¥(IL'ies.' Donations 3h 6,697 i 0.000 16,697 47,125 61,080 4,494 61,080 4,494 33,649 10,962 TiadingT inLoine 4,287 4,287 5,173 Orlirfr Profit cin sale ot'tanLiible tixd assets 242 242 'ro'rAI. INCOMTr: 8,285,371 I1).0 8,295J71 8,605,919 EXPENDITL'RE ON.. Schvul vperaiin¥ LUSts 7581.988 7,589 7,589,557 7,905,-390 Fin%ince cosig 180,844 186,844 184,031 Impaillneni Prup¢rly 435.774 43S774 Ci)st of I'ai%illg fund 625 625 529 15.967 JS,967 8,520 'roTAL EXPENDITURE 7,589 8 228 787 8.098,470 18671 47.927 47,116Tr {29,X6()1 NTr-'I- INC.OM I- 63,306 47.927 113,644 477,580 Lusse4 on revaludlioli of tixid assei Transter (2,064,226) 110,0001 12,064.226) i 0,000 NETMOVEMEliT IN FUNDS 12.010.920) 57,927 11.9$0,5821 477,5¥(1 Fund balances l)IY)UbJht forward 7.030,033 583.637 337.730 7.9SI,4fj11 7.471.X211 Fund balancts% LairiLYI torward 395,657 6 000,818 7.951,4 il sidieineni of lindiiiial dLlivilith iiiclude4 311 gyi1i5 and losses in Ihe yc&r. All incvm¢ and c111d11url, 1% dc1.1vL froin Colilinuing ie iiole% pag¢s 17 10 J5 lonn P41rt ol'ilie.se findnLlcil staleiiiLnis. 14
PLYMOUTH COLLEGE AND ST DUNS'fAII'S AIJBLY SCHOOLS CHARITY CONSOI,IDATED AND LIIARITY BALANC. SIItr'Tr.'I'S AS AT 31 AUGUS'f 2(121 Group Chadty Note 20ZI 202(J 2021 2020 FIXED ASSF.TS 165,0(JO 10,l.56,479 92,024 1041.3 5n.3 180,000 12.195,954 34(),165 12.725.119 l6SOOO 1,gOLI.14 180.000 1,435,873 TaTisribl¥ ITivknsiin¢ni.s 2,067 134 1,615.873 CURRENT ASSETS Debiui Dcl)Ini lie year Cc75h al bank and in hand 693,630 308.08 531,298 1,545,504 393,906 1,545.504 Ainvunt% f8lltng dtJ¥ *tl¢r 164 77Z 1,1158,402 -S.35.545 843.()33 2?,21)9 1,961.7a9 2,.3993.14 Creilltot%: Aiiiounis f811iTrg du¢ within Ixie y¢dY 15,231,047) 14,WO.1521 15,22S,3781 14,868.()041 NL'J. CbRRF.NT I.IAEIII.ITTr:S 4 172,645 14.056.519) 2,825 544 12,90(),8Q51 'roi'AL ASSL'fs LESS CU'RRENT LIABILITIES 6,240,858 8,668,600 (758,210) 11291,0221 Crtditors.. Aniounl% fcilling duc atltr oiie y¢ai' 1239,0401 1716.200) (689,9681 1660.2001 Dcfcrrcd laxalion 11,ooiJi 11,onoi TOTAL NET ASSETSI {LIABII,ITIF.SI 6.(H)O,1118 7.951.401) 11,448,17¥1 11.957.222) FUNDS LndowM¢ni tuiid.. 14 15 -19S657 4,976,476 337.7311 4,413.170 2.a64,226 552,637 583,637 11,408,435) 11,975.0681 Rcvalualion De]glIalCd fund Resiricied funds 42,6.17 586,048 16 20,Z57 17,846 6 (N)0,818 ,448,178 11.957,2221 ic Schaol hils takcn a(1vntage nf 4ectinii 40% nf thc CainpDnic% Act 2(N)6 lo publi51i it% olyn.tate]llcI of financinl activities. Thc Sihoul-s Iiet incoine fLTrr the year was £506.633 12020.. n¢1 incoinL £514,186). Th¢ fillanLial %iatemenls were appioved and authvrised tor I%ue by Ili¢ TTUSte¢s on and signod Dn their behalf by". Mr R. LibTlIl 'I'i-u5tcc Ctsmp#n}. ReglstrAtlon Wo. 05189426 The noics on page4 17 10 35 fonn pgyl of th&%¢ rtnancial staieinent%.
PLYMOUTII COLLECNE AND ST DIIIYSTAN'S ABBEY SCIIOOI,S CIIARJTY COTrISOLEDA'f&.i) S'l-A1'Tr-MF.NT OTr CASII TrI,OWS TrOR TIIE YEAR LNI)Tr'I).31 AUGUS'f 2021 2021 2020 Note CA.SH >'LOW I,'ROM OPLRA'I'IN(: AC'I'IVITIfr.S 20 490,848 404,337 CASH FLOWS FROM IYVESTING ACTIVITIES 4,287 1554,8401 801 97,701 5,173 140.7171 Puirhasc of iangiblc tixcd asscis ProiL¢ds froin Sd1¢ ot-iangbiblL lix¢d assLI Pr()Lccd% fr(Jm %alL of Inv&siii)cnis N*t eAsh uséd in invt¥ting %ttivitit5 1452.0511 135.5441 CA8H TrLOWS FROM I,'INANCllI C AC'I'JVITIIS R¢payinent ()f bdiik ludns New b&iiik laan IDtcrcst paid Yet t4sh Used in flti&n¢lng Aelivitles 197,4311 196.0401 50,000 1.13.77.$1 1210,4¥41 IDECREASEI I INCREASE IN CASH EQUIV,ILENTS DLRIYC THE YEAR 1171,6871 18&978 CASH AND CASH EQUIVALENTS AT BEGINNING OF REPORTING YEAR 11,988,694) {2,177,6ni CASH AND CASH EQL'IVALENTS IIT END OF THE YEAR (2,100,381) (1,9860941 ANALYSIS OF CASH AND CASH EQUIVALENTS 364.772 12.-%25.1531 535,545 12.524.23C)I Bank ovcrdraft TOTAL CASH A.YD CASH EQUIVALENTS 2 160,381 {1,988,6941 Includ&1 in the cash ai baiik and in liand 1% £nil12020.. L500,896) in respLLI of arnouiiis h¢ld tn ¢b¢row. and whiuh only be rn fuiicl ccrtain fuluiy iapiial pix)j¢¢Ls. The nnic% on pagL7 17 10 35 foilln pari ot'ilic%c linancial sraicin¢tti5. 16
PI,YMOUTII COLI,EGF. APID 8T DUNSTAfi's ABBEY SCHOOLS CHARITY IIOTESTO THE CQNSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Accountin¥ PDlitles Chirity information Plyiiiouih Coll¢ge aiid St DuiiEtan s Abbcy Sdiool4 (".h8rily is a rcgisterL'd charity and Company limiied by guara11t in England and Wcil(x. Tlie regisie1Ed office is Plyinouih Cvlle¥e, Ford Park, Plyinouih, PL4 6riN. Plyinourli College and St Dunsiaii 4 Abbcy Scliools Chariiy In¢¢t5 lh¢ dLfiiiitiun vl. a publii bettefii eiiiity ulldcr %¢ctii)n 34 of FR% la2. Tlie pi'iiicipal objeclivos ot'ih¢ cliarity are detaild iii Ilic Tivslccs TCPOlI found on pagc 4 of IhGSC financial Ib) B2¥1$ of preparAtIo Tli¢ IinDnLIAI %lalffliieTi15 hii vc bLcn i)r1]r¢d undci. tlic hi%loFical cth%i cnnvcniion unlcss othaTrvisc SPCLititd within ihe accoiiniing policic& The financial %iaiLJiicnlq have been prwar¢d in #t)rdar1ee with ALcouiiiing and R¢porting by Chai'ilies.. RLpnrling $1<111d<ird ai)plical?Ic in thL UK aiid Rcpuhlic of Irclaiid IFRS 102) ILff¢etiv¢ I Jaiiuary 20191- (Clidrillg SORP CoiiipaniL% Act and tlie LliaritiQ5 Act 2011. The fifianlial siai¢nithts al'e prepared in lrIllig. whiuh Is the lunciianal currency of the chai'ily. Monctdry ainounts in tli&4e rindncial SlE?rcirciiis 1VdCd lo IhL' ncarc%i £. Icl Going Concern Th¢ FinanLial StatLinenl% h&v¥ begn PiYPdr¢d a goiiis ¢()nceiii basi8. Nel aNNeis al the balaiice slieei dale weir £6.11011,818 aiid iiel cuririil liahilitics al IliL haliicc shccl dDtC WCIT £4,172,645. At Ilic ycar-cnd. Ihc bank ov¢rdraft wa% £2,525,153. there w¢re po%iiive casli balii nces 01. £364,772 aiid die IL'VVI vl IinreStriLI rwv¢s is £4.970.476. The SLlii)ol dues nol hold free reserves d4 defiiied by th¢ Ch#ri¢y C"i)Iniiiission, as there is signiticant invcstmcni in the h0o1 buildin&%. covsr)-1g ha% crrul¥O tD£iierial uiic¢rtai11ty tor.%chOol in u5sc%sin8 thcir foiwnrd plan5. Thc two rnain arca% ol. uncertainly ITlatc to Ilic vpiiaiing modcl and Ihc f1nancing of-the Schuol. Modcl Wc hdve iiiodellecl ihe iinpaLI oil i)111- pupil nuiiibcTr, oih¢r ¥yiiiy¢% af iiicoine alld our co.%1 basc. Wc madi u%¢ of Ilic Govliniiiciil's tijrlough s¢hciMc wlicrc TKTr%qiblc. Wc hvc iak¢n a pldCl view on pupil nuinb¢rs and h&ire based incoire on infoiThatioii froin r¢guldl' LonidLI with parenis 1h iii th¢ UK ov¢r5t3s. ThL Trustees liave stre5 lestL the budget for 21122-2023 Ic nd Ihc fall in i)ui?il.% thai wtsuld bc rcquircd 10 dccill Ilic Ghai'ily ith nttt bc 8 gning-ciTrnctrn was con%idcrcd lo i uiir¢alistic. Wliile Dihcr incoinc hii s Ycduecd Inainly du¢ to ih¢ school being clod, we have secured a numbiw of holiday Llubs aiid suiniii¢T let.s 0(thL f3Liliiits aiid will conlinuL to sC£Uit cciniracis. arid iiiiire etTicienl way. building nii Ihc CApcriencc of oui. succos4ful lioinc Ical8 i?m¥rainiiie. Wc ha¥Jc dlso addross OVla1n8 in Sniiic dcpart1ncnL8 and tlie iietd to Slre8inline othws. All inajor cost ceiiliES liavc beeii r¢vi¢w¢d tv a¢hi¢ve I'lic school currcnily ()PLltli% und. a biirk ovcrdizft. Mic pOltivC c&%h halances are fiDin Ilic subsidiary 8c¢ounls. The ¢&sh reviews Ihc Iiicililics ii iinually and thc ncxi revicw 111 he in March 21122. Whil¥1 Ihcrc is no gu91'atTrtcc that the bank will reiiew Ihc ovcrdmtl faciliiy. our discu55i0ns with iliein have bL"En po%itive and they hgiie iiidicated Ihyl Ihg faLilily will bc onliiiue 10 bc rciiewecl. Howevei., tiiice tlic rLYClI?I f01. Ihc %alc ol. Milllicld% bccii I'cceived. tlic Tru.4tcc% will work wilh Ihc bank tn caY Qui a findhLial ro%ii-ucturc ivlii¢li.4hould ultiinai¢ly r¢duLL' IIIL. ILvgl of borrowing. Whilc Ihcsc evcnis aii(I cDndition% might iiidicaic thgt an vnceitainly exi.%i% thai may ca%1 doubt on th¢ charity s ability to bufiiie%%. 1l)e Tru.%ices do not believe Ilie charity 15 not a gDiiig cancem. 17
PI,YMOLT"I'II COLLLC.Tr- AND s'r DUNS'I'AN'S ABBEY SCIIOOLS CHARI'I'Y NO'fF.S TO'I'IIF. CONSOLIDA'I'LD TrINANCIAL STATEMENTS FOR THE YEAR EIYDED31 AUGUST 21)21 ICON'TINUEDI Id) Group Rccoullt5 Dunslal) ts AbbLy SLIILTruI Tiust LTrn u liiiL' by IiiTrL basis. llie rcsuliq ¢Jf Plymouili Ci)Il¢g¢ Trusi 1ncludo the ii.sull£ otr 11.q trading ul)%id1a1y. Plyinouih Collco¢ EniLrpi'i%es Lid aiid linkcd ¢hai'iiy. l)lyinoiiih Collr¥c Gcneral Chariiable Trus1. Cun11(11¢d on A separaie siaieiiieiil Ot finanLial a¢tiviti¢% toi. Ihc cliai'iiy itself is iinl PTe4cnleil the LhaTiry h98 Iik¢n advintage of the wa% £506,6.13 12020 £514,186). FRS 102 allow% qualitying ¢niilie.s ceriain disclo.qure cxLxnplivn.s. The cliai'ity, oiily, liws iakcii advdnta8¢ of Ihc exeinpiioi)s fLir SeLiivn 7 'StatL'inLiii ol-C4%h Flows disrlosuirs. pr¢'nEi10n ot ali entity oiily SuirLinent ot-cash Flow and reldted iiTrle% an(1 (e) 'und atctsunting Gendal iysouires are unresiricied fuiids which art availablc tor usc at IhL' disLfL*ion ol. Ihe Truslcc in ilie furth¢raiiic ol. the geiiei?l objectives ol'tlie ch#i'iiy and which hdVL' Iiul beeii dL%ignaied foi. oiher puTW5. DL%'igiiidlrd Fuiid% ale ainuunls Lhat liave b¢¢ii sei aside ai the disL'retion of th¥ Trusteu foT Y Sl)ccitic bui not Icgnlly binding puiyoqc. Rc%iriclcYl I'und% Drc fuiid%. which arc foi. a spccitiL puiposc. and iiicainc c(Ilnl)fi¥e% ¥ifis, leglele% aiid grants wliere th¢r¢ is no Endowincnt fvnds air funds where the capiial tnusi ILinain intaci only th¥ inc()In¥ disrribuicd for IhL' %laid i?urpose ol. thr In¢ome Iiicoiiie i.s reLI)8nisd wliiii Il)e ihariiy 15 Irgally entitled lo ilie in¥()InL. li 1% prub&blL It will be reLLrived and th¥ amount eJii be Incllsur¢d r¢liably. Te¢tivabl4 charge4 for vvicc% and usc ot. piriniscs are awouni¢d toi. in IhL lod iii whityh rh¥ SL"rviee 15 provided. F1 iLx¢ivablL IIIY STilted Htler deducting allowaii¢es. scholciiships and othcr ninissitsns gliinted hy Ihc %ch(i(>l. r¢c¢ived and Ilie aiiiouiii ean be IrLd%urcd IGliably. tkniiaiioiis Y¢LeivLxl f(Trr tlie bT¢lILI-al i)uiposes of th¢ L'hai'iiy air included as unrcsiriLicd funds. Donaiion% required to be YEtJin¢d Capiial in accordiiite ivith thc doiiDr s wi%hL's dTe acwunled for as endowiiienl Inve%linent IL1¢ 4L¢ouiiied for on a re1vable basis. Leg2i Lies intludtd wh¢ll li 14 proknble Ihai a payiiient will bc madc or pmperty Iransf¢ry¢d Iliai the h0o1 is cntiiled 10 and Igl Expoijditure Ilie L-diLgviy. WhL're ensrs &?iinoi b¢ cliri¥EIy cltii-ibuted to wdriiculai- IIL'ddiii&s, th¢y ai)txirtinii¢d aiiarding lo piipil Suppui-l Ll)sls arc those ctJSt4 inciiriyd Jir¢Lily iii siippuit ut. Lxp¢iiiliiurL on Ili¥ ubje¢lS Ot. the cliariiy. GOvciiian cD.g1% ait Iho%e incuiTed in coiiD¢ciioii wtih adinin1$1faii()11 tst'tlie ¢liai'ily and ci)111pliancc with stglulory requii'eineiils. Rdundancy LD%ts are repotlecl wheii Ilie SLhuul is de11}nsialY comiTiiiied 10 ineui-ring such cosi8.
PLYMOUTH COLLEGE A'D ST DUNSTAN'S ABBEY SCHOOLS CHARITY NOTES TOTHE CONSOLIDATED FINANCIAL STATENIENTS FOR THE YLAR .NDF.D 11 AUGL1S'I' 2021 ILON'I'INUF.DI (h) IDlaJigÉble fixed 85sets AlmoniatIOn is p1DvIdL to write afrtlie of ih¢'usdgL db¥lteinent- of Ilie all-weailier liockey pitch at UCP Si Mai-k & Si loliii oV- tlie lengih ot'ihc agrrcir¢ni1711 yur%l- 'r&ngil)It fixed assers and depr¢cigtio .1 angiblc tixcd a85CI% t)Ir initially r(ngnised at co¥t, IhLn subsequenily re¢ord¢d ai cost accumulated depiEciation. Dq)Tcciaiion iq prDvid¢d lo wriie off Ihc ctr%i. ILS% i%tiinaicd Irsidual of all fixed dsseis over Ihcir expectcd us¢fJl livos. li is ¢al¢ulaled al the following iaie%'. Frcl'liold Pi"operty Ci)liipul- Equ1p111Lt 20Plo rcdiicing bAlan¢¢ 5 % Irducillg balance 25 /0 lY(lucing bgllliice 20Q/ts 1ulucing balance and l O°/0 4traighi lini Mutur ViliiclL The Tru.4leeg havL con$idLrLxI the freeliold land and buildings and bclicve thai Ihc rcsidual value (which can k sui)portcd by an Lxlcriial valualian uiidLrtkcn ln 20101 1.5 8uch that Jny dcpitciation would k. immai¢ri31. Ba%¢d on this. there is no deprcciation Lharge fur IIiL' yecll. endeil 31 Au&yu%t 2Q21 Frcchold land Jiid buildingq arc iinpaird if rh are iDdicati()n% that the canying valuv exceeds Ilicir iL%overabl¢ Hinounl Aiiy IE r9)nrtcd, hcing th¢ dIff¢ne¢ b¢fwccn the proceed and the cmrying value of thl ass¢1. ExpLndiiurc Dn equipincnl is chnrgLYI i() IhL' rcvLnuc aceouiii a% Ihc cxpcllsc is incurrcd. Investnients l.istcd invc$11ncnr% air Caled ai thcir iiiid-miirket value 81 the balance %lieei date. RL'alis¢d gaiiis and on li1vliKen1S arc CdlLuldll the dirrurlL bLAiV¢¢li sale i)r(?LLLds and rnai'kel value at Ilie tall ()f tlir ycai. ijr bLibs¢ciiieThi cos1 aiid arc ci'edited or cliarged lo the £lilteiiienl of fiiiancial ailTvilio in IhL ycar i)l- disposal. IIIiiL81i8cd gaiiis 11 lid rVnt Ilic Imnirc4ntni ill Ilic niai'kct vlilu¢ dui-ing ih¢ yetsr aiid are credited or ehcirg&ff ro Ilie siaieiiieiii of finaiicial a¢liiiiti ba.4Ld i)n ilie mai-kvt value al Ihc ycar-uid. Unli$ied iiivtssllnLls are h¢ld ai ¢041. Ik} Pension cos15 Duiing lh¢ year, th¢ School participated in d iiiulti-enipluyer clefin¥d ¢()niribuiioii i)eiisi()n scli¢me f(Ir li% t(LI)Ill8 Staff adiiiini8icrcd hy Avivl< IAlJ'I'lqI. 'fiie slllnclard contributions arc 15Q/o Lmployw atid 5U/o ¢iiiployc¢ althnugh 8lDff Gan npt to incir<lS¢ their contributions thr reduct their einployer coniributioiis aiid r¢ceivc db gdditional saldry. The School eiynlribui&s ta a (Icrin contribution 4chanc for non-ltra¢hiiig staff with p10YCr conii'ibutiDn5 ai 7Q/o Df basic pay, and notv ha% an &uio-LniDlincni schcinc wh¢re il ¢ontribut¢$ 3 of pay. Tlic I)enln cli1 fthi. the%L' 8chcmes 1% rceoLd as li bccomcs payablc. Leased A5$et$ Rgiiidlf applicablc 10 opcrating I5¢5 ¥vherL" 8ub4lJnlially all of the I'isk% dnd Kwarcl% of oivnerqhip reinain with the ]eSor al'e cliciigcd lo Ilie Sili Icinenr of Financigl Aeiivilits on a iiraight-line basis nvcr Ihc tcnm ot thc IC.¢. Im) Advance Fees Scheme 'rhc chai'ily Dffci-.s parcnls the i)ppoi-lunity 10 pay bogrdiDg gnd tuition fees in advaiicc in accordance wilh a writl¢D ¢onlract. Qu()t4lions giv¢n bq%¢d oli gn aiinudl inCTVdse in fees eaLli yeai-. ThiN 1% Ifcat¢xl 8% delrl'rcd iiicDiiie uiitil thc pui?il jolli tlic $LII1)ol wliarLJI)nii Ihc fc&f fo1. C<l¢1i sclinol tcnii arc chaTgccl again%1 the rcirainin¥ ba1811ec LTrkcn lo Income. All amounts in&nci#l In$trumentS Thc giDup ha% clccicd 10 apply Ilic pi'ovisiiHi% of Swtion I I 'Ba%ic Financial ln8iriiincnt. aiid Sctlion 12 '0thw FinJii¢ial 19
PI.YMI OUTEI C.01,I,F.C.E AND ST DUNSTAY'S ABIILY SCHOOLS CHARI"rY N()TI.:S 'l'O'I'llb: COYSOLIDA TFD FIN'ANCIAI. STATEMEP4'1'S bOR THE VEAR ENDED 31 AUGUST 2021 {CONTINUEDI Inslrum¢nts Is%uo% of FRS 102 10 all or its tTnanLial inslruiiicni%. Basil linJnLidl dSS¢lS which includi Iradi and oiher reLLiv&ble% and casli bank halancc% arc iliilially rcLll8iiised ai COIISltiuics a tiTraiiciiig Iranetin, wli¢i'e IhL dcl?l in8twiiieni is mcasurc(I dl IIIL prosLiil valuc ot IhL tuiuir recLipls di.%L(?uiiied ai d Inarkel iale ul. Inieresl lol T8Xatlort The Charitable company is a iegistered Lliarity, and as sucb is cniiiled to lax cxcini)Iioiis (>ii in¢DiiiL aiid gaTn% pri)pth'ly applied for iis cliaritsble puip05es. pl JdeMentS aiid key Sourees ortstimtiTr un¢Yrtginty In th¢ ai?pliLYtivn of Ihe giDup s 8ccoui?IiETrg policie5. Ihe Tl-ustel llr¢ requircd 10 Iniikc judgL'lnCllt% &stiinates and E155UllllItI()n trijtn lh¢ ¢siiinaie%. future pcriods where Ilie revision affects boih current and tuturc pcriod%. The fallowing jud¥¢m¢nr and &%liinat&% liavc had IhL Inosi signiticaiil cfrflri on amou]it I'ccogiiised iii Ihc IincinLiHI -1hc-l-1%1ccs cxer¢i%c IhLii' ju(Igcincni in as%c8%ing thL L'XllCCtd r¢iiiainiiig u%elul Iifr uf Ilie assL% lield anil expeLILd roidual values wlierL" uppr()piiaie. Tlie Scliool prop-[leS. land lid buildin, w¢r¢ profcs%ioiially valuLd in M&iy 21116 ()n an exisliiig usc basis. B8.4e(l iiii the Ihcy da not bclicvc Ihat li 1% ncco%%ary ID pibvide ftsT dq)Ircialioii on Ilie builLIiii¥5. Recover8bilit of Fee Debioi Innagein¢ni regiirdiiig Ihc likelihi)vd lit. F¢Lvv¢ry. Maiiagcincni reviLw and fcc dcbiors É)n ali iiidividual ba%1.% aiid pr()vidc Ivr tic dcbior5 dppI'cipI'iate. Sehool Fee5 2021 20211 Fees reLL"Ivdble consis1 of.. Gr()s% Fe*$ 9,664,OZ6 10.605.164 L¢s% Fc¥' RLinissiuns 2 2.15 S77 7 42Y (>49 13.136.733) 7.4118,431 Ilii¢luded fte r¢ini¥sioiis is £73,415 12fl20.'£803,5481 of Covid-19 ttr discnuntl. 20
PLYMOUTH COLLEGE AL%.D ST DUNST AN'S ABBEY SCHOOLS CIIARITY NO"I"F.S'I'O THE CONSOLIDATED FINAcIAl, ST A-I'LM LN'I'S Tr'OR'I'llb' YF.AR F.NDED.11 AbC.US'I' 2021 ICONTINUEI)) Other Incorn¢ Anclllary Income 2(121 2020 Iliir¢%iri¢ied Fund%'. Schc)ol mciTrl% rcccipis Regi%iilliion fcos Spwial ii¢¢(1s incoiiie Goliciiirnent fuTlougli scheine OIliLI inCVTn¢ 307,702 11,494 2,442 88,213 291.117 62,523 1.3,601 2,230 303.399 20,574 569.614 50.689 L¥am 10 Swiiii .1 cacliLr l1ntng 650 779 522 1,040.579 bl DonAilons In¢ome 2021 20211 Rthli-icied doiiaiions.. 10,000 Geoige Sicphoisoii Pavilion Oiher clnnaiinii% 512 46,()1 I 47,125 16,697 lthve5tmellt Incomt 2021 2020 4,Z55 .32 4,287 Inicrost Yw¢iv¢d 353 5.173 All invcsliiiciil iiicoiii¥ iii I1h cunEI)18nd prior ycai. is unr¢slFi¢id. All iiiv£4ttncnl 8ainsllD%ses In l)olh Lurrcni and prior y&gr arn iii IM5pt of tunds. Anglysls of Expelldlture (al ERpenditure= 2021 Stllff Cost5 Other Direci Cos1.% DepreLiaiii)n L AmvFli%diiun Tottl 2021 Ekptnditui'e ort Ch8rit&ble Ac¢lvltlt$'. I'caching WLifare 3.785.173 27(1,058 574,94? 54¥.228 273.390 706.954 711,303 470.284 133,98S 186,844 435.774 95,801 7,518 4,154,424 990,5.10 1,286,745 1,02.1,890 1.1.1.988 186,844 435,774 Supi1011 COSI 5,378 l inancc cn%ls Impairmeiil on Property S.184.401 2,919,a37 108.757 11,212,195 Orher Expendlture.. Cnst of Tllising fi]lld 625 625 Tradiiig and Icllings 15.967 15.967 Total Expenditurt 5.184,401 2,935.629 l D8,757 8,228,787
PI,YMOU'I'II COI,I.F.GTr: ANI) 8T I)iiNSI'AN'S ABBliY SCHOOI,S CIIARITY NO'I'Tr.'S'I'O 'I'IIL CONSOI,11)A'I'.D TrINATrJ(.'IAI. %-I'A'I'Tr:MI I,:N'rs roR THE YEAR ENDED 31 AUCUST 2021 ICON'I"INULDI 21120 D¥piYLiHiiun & Ainortisalion Total Direct C'osr.s 202U -xpertditurt ChArithlt Attivities.. 4.2$2.1157 311.537 6.f8,(?29 494.739 176.262 2()? 1)38 5119.375 617,979 526,530 5,344 4,610,3.11) 820,912 1,270,008 ,21,269 170,262 184,031 WLlfyre Suppori costs Fiiiance cost% Lobs disposal of lixed asseis 184.031 5.8C)J.?24 2,100.853 95 J44 8,D89,421 Other Exyendlture: 529 529 8,520 8,520 Total Expenditure 5.89.1.224 2.109.902 95,344 8 098 470 AAlYSIS of Support £05t5 202t Edu¢ational Markciing 2021 Siat7'¢osis Fiiiaiiw" and adminifitraiion Reduiidoncy tkprLYidliuii 402,736 -327,376 33,630 5,378 514,598 470.284 142.()08 5,3714 TotJLI Support costs 761),12 254.7711 ,023,¥9U 2020 EduLaiional Marketing 2020 Stdt'f Losls 307.338 4110,872 78,90(? 108,495 125.658 415,8.3.1 526,530 78,906 RLxlundan¢y Toi#l Supptrvt L'U5t¥ 787.116 234,153 1 021,269 Ibl Net lllcomelexptnditure 1$ siHted atter.. 2021 2020 435,774 Dcpi-cciatiDn nf taiigiblL fixcd a.qwYs'. AIiiLTrilisaliun of intdnbyihle lix¢(l ass¢ts' OpLTdlinL Icasc Inl¥res1 pdydblL un b&iik tsverdraft 95.344 15,00 6.1,288 80,887 26,167 56.497 105,307 28.468 -36,0111 Auditors iMnuiiLrniion ttir aiidit ot'llnnual finaiicial siaicmcnis Other prutessiuiial sL'I'i'lLe4 fi'oin dftilidt¢s of audir fiiin.. TJX LuinpliancL' %erviL¢ Orhcr iir111-i(udit l'VE0&S 2.214 984 0079 I,IM)O Bud dubtS Th¢ abovc costs include iii'e£overable V AT, wh¢rc rclevant 22
PLYMOUTH COLLEGE AND 5T DUNSTAN'S ABBEY SCHOOLS CHARITY iYOTES TOTHE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR F.NDF.DJI AUCJVS'I- 2021 IcoN'riNuEDI Six Trust wcre r¢iinbuiscd ic tvlal of £1.953 for iravel cxpcns¢s1202Q - £4,884 toi. ts'avcl ¢xp¢ll5&1. No oihei. Trustee or p¢rsiM coniieLted willi i'Lx¢ived aiiy reilluiieralion or oihLI- bcnctil cluriiig Ihe year except tnr IhnEc liRted in Nole 22. lel F.mployer payroll c05t$ (School and Gr04]p) 2021 2020 WagL's and sala1.ie 4.104,468 -IYl.49¥ 430,289 125,076 4,670,601 4?1).835 471.841 Pcn%ion ¢onrriliution.s Otlier allv¥vdnLeS ancl Li)s1S Redundancy 96.SQ6 5,862,724 5 184,401 01 the redun(lancy ¢051s, £9,294 iiicluded in brediioi's ni. accivalf al Ihe ycar-aid 1211?11 £96.5tKIl. Trie%c IlatC I rtslructUTlll¥ l)I'ihe.4laff body lo align with Ihc School'4 futurc Ou1¢U1ufft d*nand8 and operaiing iiiodcl. Tlie nuinber ufeiiiployre5 whosc salic ri<s atnouiitcd to £60,(10(l oi. over in Ilic Y1. Iva8 as fc)Ilow%'. 2021 20?0 £60,000 £70.000 170,111111_ LXQ.110() £8n,000- £90,000 £110,000- £120.000 Th¢ totJl einployLr caniribuiionq in Ili¢ yeaT luwards pension sch¢ine ¢oniribLlti()ns for the above 4 1202Q.. 41 %laff ineinb¢r.g wci"c £42,33412V?0.. £31.8201 TIIL kLy Inaiiageiiienl i)¢rsniincl ()t' the SclinDI and Ilie Cil'()up arc dclailcd in ilie Tru.stces R¢wrt. 'nio total ¢inoluinent% for IhL%C pcrsnnncl i1) the year. inclLJding cinployLY's Nl and pension ntribUtionS. was £419.95212020.. £535,898). ThL' avcrngc nuinbcr of ciiiployccs of Ilie Schaol and Ihc CirDup analy$cd by function wa5.. 2011 2020 'Icachin¥.¥iaff Ttrdchin¥ 4uppui% %ia 74 35 33 li 19 172 80 39 29 12 36 196 WelfDYL Staff SuppLTrII staff Intaiiglble Fi¥ed A$%eis Tlie 2111_l Astro l iiif dgrcL'ment wilh U111vei's11y Collcgc Plyillouih St MaTk & St John foi. £31KI,000 10 bc placed in ¢sLrow ¥vunt clr¥wn d(Iwn dl £15,000 per annuin lijr Ilie f1rsi 15 yeais aiid L5.1)110 i)er 7£ nnuiii fcir IIiL TC]nainiiig 15 year4 lo 1¢fl1 Ilie U%dge ot'ilie piich. A% al 31 Augu%1 2021 the value £165.0001?O?0.. £180,00111. 23
PLYMOUTH COLLEC.F. AND ST DUNSTATrI'S ABBEY SCIIOOLS CIIARI"I'Y NOTf.s TO 'I'IIF. CONSOLIDATTr.D TrINANCIAI, s'fATEMENT.S TrOR'I'IIE YFAR F.YI)FD 31 AUGUS'I. 2021 ICONTINLTED Tanglble Flked A8StIS Crou FrL"huld Pmpe4tty & Aqseis Uiidei. Coiisiruclion Fixluits Motor VehiLles Csroup Total E4uipin¢iil Cost Al I Septeimber 2020 22.3.33 861.399 391,857 171),1)49 12,643,948 162,983 1.578 12,500,000) 9,248,728 Di1}all.l raiisfer 11.57XI {2.3,4901 At 31 August 2021 20.755 1.253,256 10,67.q,298 DepreelAtlo Ai I Sepieinbw 2020 Ch£if8e lor the Year 320.663 80.861 447,994 9.6,757 IZ 932 518,819 12.896 ?2 1).3?1 117,295 At.11 Akigu%t 2021 401,524 Net Ilook Value 9.248,728 211.755 22.3.1.1 851,732 35.264 48,718 10 IS6 479 12,195,954 At 31 Augut 2n20 Thr hisi(Ii'iial cosi gquivalenl ot'tliL freehuld pr()p¢i'iy is £9,820,0421202ts-. £9,655.4811. Charli Frvehold PI1?crtY Ass¢t% Uiid ('0118iruLllOn Fixtures Mot(Ir VLshiLILs Charity Totxl Cost At I SLpiLmibt]' 2020 846,154 162.983 1,578 22,3.73 91.280 1,821,166 554,8411 3YI.857 t)i%pt>.knillTrdii%fLr Ai.3 l Augusi 2021 20.755 1.253.256 91,280 2.176,006 DtpretlAtltsrt Ai I SeptembLx' 2020 3211.6C)3 80.861 385,293 8¥.179 7,518 EliiminaiLd (>n Disp(>.sDI AI 31 AugTru512021 4ill.524 72.14¥ 47.3,672 Ntt Buok V&liic Ai 31 August 2021 At.31 Augusi 2020 20.75.5 ?2.33.1 ¥51.7.12 54U,736 1902.134 1,43S,873 846,154 26,650 The GIp hos ¢I¢¢tl, iii accordanLc with Scctioii _15. Iuldl ol. FRS I(J2 10 u5C tlIL carrying value ol. any uf the abovc as$et pi'cviously carried ai valuutioii, Ih¢ii' detl cost. Thc aimouni rckK)rtcd tor Ilie Millficl&% site Wl¢ on ali -C'XilI8 u%L Vcilu<lljl)n iarriccl oui iii Sepieiiil)¥*' 2018 diid tollawiiig tliL de¢isic)n by IliL Tru%le¢s Iu IML)Ve thL' Prep School 10 Ihe Se]?ior SuhiK)l sil¢ at Fold Park, troiii %q)tLinbLI' 2021. IhL' l)r(IPLI'ty has hLLli pl£icu4 (Iii Ilic InaTket willi Sai'ill% ai a recoiiiiiieiided Siile5 value 01. £2.950.000. 11.% has Irgulied in 24
PLYMOUTH COLLLGE AND ST DUNS'fAN'S ABBF.Y SCIIOOI,% CFIARITY NOTES'I'O TIIF. CON4OLIDA'I'II) blNAN'CIAL S'I'A'fi:MF.NTS FOR THL YLAR F.NI)FD.I I AUfiUS1' 2021 ICONTINVEDI Unl%riC1LYl Endowineni TotAI 2021 Tolal 2020 la Gr(iup'. Balififl¢C ai I Scplc1nb¢r 2020 Addition% (Nd lif iiiaiigg¢inenl feel Dispo14 Gainlloss on revalualiun BoldnLY at 31 Augusl 2021 337.730 349,165 io,on {267,14ll 369,034 i o,(K)a 1255.7061 29,86C)} 34Y,I (?5 Listed the Stock Exchaiige Casli dcposits 92,024 92,024 92.024 92.024 82.024 34II.105 The hisloi'ical co1 ot'ihc li5tcd Invc%iincMts is £nil12020.. EI 78,1231. Ib) InVtMent$ held in the pi)rtfDlio ai the year-d wcrc.. 2021 2020 rtdthivmÈnt Funds M &. G CharilLIII(l- Incoiiie Units S¢liroOo' UK Growlli Fund 80.578 32,580 17,424 25,077 13,612 17,450 10,761 7,544 Mcllnn lnvosliil7l Fund Iiiveslo Manag¢rs M &. G Securitie HLndLrson UK Propci1y ISHARES 11 PIC- Sianildr(l Lifc- UK SMLLR A¢¢ R¢iail Siaiiilai-cl Lifc Global Abs-ulul¢ R¥lurii Sirai FIL Iiivo&hncllt Pidclily Moncybuildcr IncoinL 6,21U 11.475 18,260 2.827 Bai'clays Miilti-Man4g¢r l-_viid CilohalAcco55 CJBI. Higli Yicld Unrestricted Furtd5 267,141 Group UndortakiDgs' FinolJC181 Result5 12) Plvjnouth College Trust 1¢ Lonsulidaled pusiliun rgpuried in IliLs¢ tiiiancial siaieinen15 InLlu(les Plyiiiouili Coll¢g¢ Ti'u%t. rLgifitLred cliarily numba- 306Y49, whicli was cirated p1.ior In Ilic illeTger with St t)unslan .4 Ablicy Scho()l in 20fl4 to htsld Ihc h*%Ltq pr¢viously owned by 17lyiiithuih ColltEC. Thc consolidaicd Irading rcsulis lor the Trusi, including il% 8ub%idiary Plymouth C.oll¢g¢ Eiii¢rpi-i%e% Ltd are sliuw'ii b¥low'. 25
PLYMOUTH COLLEC.E AND 8T DIJNSTAIY'8 ABBF.Y SCHOOL.S CIIARITY
NOTES TO THE COINSOLIDATED FINANC.'IAL ST ATEllb.ry"13 TrOR'fiIF. YEAR ENDLD.11 AUC:L,%'1- 2021
ICO.NTIN'UED
2021
?020
Qilicj. iJodi17g ijiconic
67,964
76,1130
4,2SS
4,820
IL055Vgaill on dispo] ot fixcd a.5¢[8
242
72,461
80,850
Chciriiiible eApeiTdiiiiJY
Dviidllolis Iv PlyinLTruili Cullege Si Dunstaii s Abb¢y Schools Cliiirily
GuvLlliTraiicc ci>sts
FinunL¢ Costs
14,2551
J,iooi
1601
14.8201
13.OOQ)
16Y.I88)
Net gaindllosso%l on InVlIne171$
47,060
129.&691
134.4001
The doiiytioiis 10 Plymouih Collegc aiid Si Duiisian s AbbLy SLIiLNil% Charity ot £4.25512020.. £4.82111 (ire eliininffticd on
cnnsoliddlioii.
2021
2020
ie as%cl% vt Plyiiiouih College Tru%1 werE'.
T
PLYMOL'TH COLLEGE AND ST DUNST AN'S ABBEY SCHOOLS CHARITY NOTES TO THE CONSOLIDATED FTNAiYCIALSTAT£MENTS FOR THE YEAR ENDED 31 AL.GUST 2021 Icoh'i'iyuTr-i) Profit.% will bc 8ifteil tn Ihc Tiwsl ID future Year undeT Ihc gift aid pi-ovibions. ThL a.isci% of Plymouth Collcgc Eniciyi'iscs Limilcd werv. Z021 2020 l angihlc filcd Currenr assets 16.1.32 22.068 59,609 81,677 19.7651 11.0001 70,912 104,810 1.11,8r12) 1.000 C'rLdiior% iinr)uni% falling wiiliin one year Delcri'cd t8xalion Repi'cseiiiing.. Share C£ipiial l>rofil and lo&s Dccounl loo 69,828 100 70,812 70.912 Ibl St Dunstan's Abbe), School'friisl Tlir 1011sti1icl&iie(I p05itioii reporled in Ib& finaiicial slalc1neiils includts Si Dun.4tan % Abbey 8¢hool Tru%1. rcgisleird ¢h8rily nuniha. 111()73(), Ivhicli Wa crccitcd prior 10 the IllLTgLY Wlth Plymouth Coll¢ ln 2W4 10 hold Ihc asscts prcviously owncd by Si Dunslan s AbbLy SLhui)l. ThL fiiianbial IEsulis for Ilie Trusi are %howii biloiv.. 2021 2020 Incomc EX[111ur linpainnty)i on yrop¢11y 32 (2,5751 14.1fj,7741 353 (2,5001 NLI cipcndiiurL fur Ilie ycai. 438117 2.147 assils of Si Dunstan s Abb¢y SchoLII Ti'ust were.. 2021 2020 Tangible fixed assets CurrLnl As5LX5 2,950,1)00 503,067 5,450,WO 503,035 Crcditors - falling duc wiiliin one ycar CIE(litors- fallinx iluv aftu i)tie year 127,435) 12,521,224) 12,521,224) Nei assets 901,&3.1 -3,4114.-376 All Df Ilie dbÉ)vL% %ubsididl'ies have the sa111e r¥gI%1¢ ulYILe as Ihe Sclii)ol. Debtol's Giyjup Chaiiiy 21121 2020 2021 202D Fecs rc£eivable 244,385 231.720 244J85 I,54S,504 119,108 89,656 231.720 1.$45..51)4 91,633 33,037 37,SIC) 1.939.410 Group debiors 371,096 78,149 693 6_30 3¥,852 37,510 308,088 Piy)ayinciiis 2,07fi.802 Tlie assets of Plyrnnutli College Tru8t and Si Dunslaii's Abbcy Scliool Tru1 piDvidc SCCUTily fDI- the bank borrowing afihc 27
PI.YMOVTH C:01,I,F.C:E AND S'I. DUNSTAN'S AHBTr;Y SCHOOLS CIIARI'I'Y 'o'i-Tr's 'i'o'riiTr. CONSOLIDATED FlTriANCIAL STAI'fr'M Tr:N'fs b()R I'HTr- Yb.'AR .LyI)F.D.1j AUGUST 2021 (CONTIN'UED) io. Crediior5.' Amounts fall1E due wlthln one year GIUp ChoTIty 2021 2Q20 2021 2020 nk Dverdrdtk lieLurcdl Tra(1¢ Cl1[01. CJr()up ci'Lditoi Oth¢r ¢r¥JilO Tax aiid ¥ocial 5ccurily Accruals 2,52fj,151 400.365 2.5?4,239 147.864 2,52.S,153 -392,221 97,702 709,154 104,443 711,927 751,976 555,UO2 2.524.239 141.099 21.045 79&.118 101731 87,702 751,976 55S1102 897,(}1)o 101,628 78,217 1,050.444 101,628 70.929 1.050,444 97,360 ?,5 4,868,6(14 Bank loan%18ccurthl15Ct iioic 121 Baiik lodns lunbLcurvdl Is¢e iiuie 121 2,500 4,900,152 78 5231 047 Creditors: Amoun15 lallittg diie After more than one ye#r Groui? 202 2020 2021 2020 OPM ltsdll uiisLuI'l In.. Si l)un8iaD % Abbcy %chool Tru%1 Bank loJii% l%eLuredl Is¢e iiLite 121 Baiik 1011 115 1uiistil51-1{5CL noic 121 Fel's r¥¥iivr(l in dcIvJnL¢ 50,000 50,000 500,928 55.1.371 47.500 65,3?9 716.200 55.1..371 47,5 (?5,321) 6(?6.200 151,540 689.968 2.19 040 12. Ilank. léoaii Th¢ SLhoul h44 loan faciliiieb, N¢curcd and uns¢cuiYÉI AS follows.. CJIOUP Chai'ily 2021 2020 2Q21 2ll20 Du¢ withtn one y¢ar DUL within 1-2 Due wiihi11 2-5 yea Due afkth. 5 y¥ars 565,8112 565,802 10,000 27,511 L)I).,%6CI 107,36Q 322,Q8 107,360 27,500 003.lOZ 700.732 (>0.3,302 'The unsccur&4 baiik loan r¢laid in Ihe Ejouiicc ljack loa115 thai Ilic Gvvcrniiiail 1S%ULcI dLlI'in&y Ilit Covi(1-1g paiideiniL i r¢payable ov¢r 5 yiars. Thc bank borr(>wino Is sccurcd by a chill-ge ovtsr IliL' trccliold i)ropeff y nt'ihc CJi'i)ui? iii l&vour ot. LliTrycls Batik. TIIL aggiYbai¢ ol. s¥Lured liitbiliiies (bank loaiis aiid overdT&ftI is £3,080,1)55. Ai Ihc yCc?I'.Lttd. IhL School wa% iii Icchiiical brc8ch of ils Iiki OTiginally agir¢d. Mi¢ n$011daEd bank loan originally for £760.000 Is bcing Tcpdicl Dvcr 15 Yellr. Tli¢ loan for the li'Lwli()Id p}i)LIrty,.IThc HavLn, was tnT 12x11.0011 aiid 1% bcing rLyaicl vvrr 15 years. 'Ihc Ihiil loaii was loi. £717.OIKI. wliiuli was toi. vai'ious wtsi'k5, rcturbi%liiiieiir ol. IIiL.%chool % all WL'dihtr pitLh. tLYiOVHli()n% ro llie Hav¥n fre¥hvld PTopeity diid £.100.QOO lui. a long licenw for use of Astroiuil.. Inieresi on Iliese loaiis is ai varying fixed rdies and is %howi in Notc 4lbl. 28
PLYMOL TH COLLEGE AND ST DUNSTAN'S ABBEY SCHOOLS CHARITY NOTES TO THE CONSOLIDATED FIryANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 ICON'I'INUF.DI 1.1. Financial In5trum¢nts Grnup Chai'ity 2021 2020 2021 2020 F¢gs Oilicr debioi Oiher arnouiit4 duL fiY)rn group undertlc kitigs 244,-185 -171.1)96 231.720 244,-185 164,811 1 545.504 1 954 71)0 231,720 -1_1,037 1.-%45,504 615481 270.752 Equity instruinEiils IMe%suied cll mark¢i value 296..317 Baiik nvei'd1'afi Baiik loans 2,52.5,1&1 60.3,.302 4O0,-168 795.-118 87,702 2,524,239 700.732 147,864 894.400 80.217 .5n.IlllO 4.-397.9$2 2,$25,1S3 603.302 392,221 709,154 78,927 2.524.239 700.731 Oihcr cyediior Accruals 01)M loan 858,760 711,92 4 461840 4,.IOfl,757 4,295,75R 14. al Allocxtion of tht Group's Net Assets 2021 2021 Ncl Current Long- TL'nii Fix Total Endoivm¢nt Futhd5 395,657 395,6S7 Unrestricted Fund5 Gen¢rL11 Te5eTV¢ Dthsi&inated funds 9,453,000 14,236.4841 42,637 1240.04QI 4.976,476 42,637 Restrlcied Fund$ 334 4,827 973 10.000 .l.C. HeiTiiig8hgw Clieillistry Ge()Yge StephenNon Paviliort As'if01101ny doiiaiion PTep School App%il fuiids Sr Duii%lan s Abb¢y tund Mvrtin)¢1"s Jewellei's 4,827 973 10,000 504,846 946 4,122 564,846 940 4.122 4,172,(AS1 2411.040 6000818 29
PI,YMOIITFI COI.I.F,GF. ATr4D ST DIIN.8TAN'S ABllb:Y SCHCM)LS CFIAllI'rY NO'I-ES TO TFIE C()N%()I.IDATFD FINANCIAL STATLMLNTS FOR I'IIL Yfr.AR Tr.NI)F.D 31 AUGUST 2021 {COI%TINUEDI 2020 Net ("uiicTrt Long- l.'ixed A%seis Total Ejjdowment Fund$ 337,729 337,729 Ullreslrlcted Funds GL'na'al I'csL'I'vc IIcv4iluaiion F[¥L5 Dttignaicd fiinils 9.75X.I18 2.1164,226 14,627,948) {717,2001 4,413,174J 2,064,220 552,637 552.637 Restricted Funrts Fnundativn J.C.. I lorllgshaw- Chcinisiry 334 4.827 2.1)85 10,000 .334 4,¥27 2,685 10.00 564,846 946 A4lr0110111y donation AppLal funds I l)uii.sian s Abbey tund l)Irp School 5(?4.846 946 14,05().5191 1717.2001 7,Y51.4110 bl Allotatioii of the Ch8riiv's Nei LiAbillties 2021 Tr4¢t C.urr¢lll Li)n8- Fixcd As%eLS Total I1reStrICted GcnLrttl re%erv 2.067.334 12,845,801) lo89.()6) 11,46&4.151 Restrl¢ied Foundation J.C. Heii'iiigshaw Clionistry GeOr5e Stephenson vilion -1.34 4.827 973 lo. 4.123 2,825,i441 -1.14 4.827 4,123 ,448,l781 2.067,334 IO%1) lJ681 2020 Nei Lvng- bixcil Assets Total UJ]re¥trictil FuJ]d$ G¢n¢rnl i¢su¢ 1,615.873 12.924.7411 1666,2001 (1,975,068) Res(ri¢tert Fund$ Founilation J.C.. H¢r1ng%haw- Chcini8iry George 5r¢phc4isoii P4iviIioii PIEI) Scliwl 334 4,%?7 2.1)X5 i 0.000 -134 4,827 2,685 io,voo Mnitiinei. 4 Jewella 1.615,873 2,906,895) 666.2001 11,957,222 30
PLYMOUTH COLLEGE ALND ST DUNSTAN'S ABBLY SCHOOLS CHARITY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR F.YDF.D.11 AUCl,'ST 2DZI ICONTINUTr:DI 15. Unresti'icted I'-iirtd%- Movement In the Year a) Gi'oup 2021 Augu812020 IDcnme RGLI Translcrs 31 AugLJSI 2021 Gciicral rc8crvc Rtvdludtiuii i-e1-Ve D&signatcd fund 4.413.170 8.285.371 2.064,22() -552.(137 7.030.033 $.285.171 18,221,198) 499.133 12,OC)4,?261 510,000) 18.221.198) 12,075.093 4,976,476 5 019 113 2020 Balance at 31 ALigust Augu%1 2011) InLoin¢ URGLI 2020 Gend'al i&sei'vc Rcvaluation T&WV¢ DesignaitTrd fLiiicI 3 1)115.470 2.064.2?6 562.637 6.532.333 .6DS.407 18,097.9251 218 4,41.1,170 2,1)64,226 552 37 7 031) 013 1111,ooo 9.7821 8,605,4117 IX,U97.425) Desi£nateil Triind5 Thc.4e fuiidq r¢i)re5¢nl Ilie tunds tstl dSide by Ihe Ti'uslees tD replace Ilie endowin¥iils expenilul, ()vrr d ptti1 01.25 year5, lotalling 142.6.37 12n20.. £.52.(?771 tlic fundq rcc¢iv¢d Following thc 5alc ot Coplain's Hou9¢ had been pul aside for fulurc cxpendituro ioialling £nil 12020.. £500,(KX>I. bl Charltv 2021 Bdldtice ai 31 Augu81 2020 BalanLe al 31 Augiist 2021 Incoill¢ Expciiditui Tran$t% CJcncrl Rc%crvc 11)75.0681 8.290.603 17.783,9701 468 43.$ 2020 BalAncc al 31 Au&7USt tlalance al 31 Augjusi 2020 ExpendiluiE Trnn%ferb 2019 General Reserve 12.4%C),2¥71 ¥.6114,0911 975 068 The genernl FtseTI'e NITe%enl% the t fund% of th¢ ¢hai'iiy, whicli air iiot dcsigiiaicd for any particular purpose. 16. Restricted Funds- Movenient in thc Year xl Ctrotsp 2Q21 BalanLe ai 31 Augu%1 202Q BalAn£e Rt 31 August 2021 Incoine .xp¢ndiluir foundation J.C. Herringshaw- chnis[lY Aslronoii)y (lonalioii- Prep S¢liool G¢oi-gc 51¢plieiisoD Pavilion St Duiisic111 % Abbey- Rcsiricled Funcls AI?PCil1 fundf i oi'iiiii¢r % JLwcllLrs -334 4,827 i o,uoo 2,685 94(1 564,846 334 4.827 ifl.noo 973 946 564,846 10.nn(I 17.5891 5S6.n49
PI.YMOUTH COI.I,F.GF. AND.ST DIINSTAN'.S ABBTr;Y SCII(M)Ib CIIARI'I'Y NOTES TO THE CONSOLIDATED FINANCIAI. S'I-A'I'I,-M ENT5 FOR'J'IIL YEAR ENI)FI).11 AUGUS'I. 2021 {CONTINUEDI 202 Balancc &1 31 AugTrui 2019 Balance Al -1 l Augiist 2020 Expcndilui-c Fnunddlithii J.C. H¢rringsliaw- Cheinistry 334 4.8?7 10.o(K] ?.718 946 564,846 334 4.%27 10.ooo 2.685 946 5(0.846 GeorgL' SigpliLnson Pavilion Si Dunsliin .5 Abbey- Ile%li'iLied Fullds AN1 Funds 512 15451 512 15451 583,C).38 bl Charity 2021 Balance ?4 t 31 Augiusi 2020 Ilalaiice ai 31 Aui?ust 2021 Expenditure FouiiJation 334 4,827 i o.i)00 2,(185 -1.34 4,827 I,000 97.1 AstTI)ni)my doiiation P1'q) School CJeDI'ge Steplien%on Pavilioii Murtilii¢l' s Jiwellci-s 10.000 1S.X771 17,846 7,589 2020 Balance at .11 Aiigu5t 2020 AugiisL 2019 lttcoine Expcndirurc 334 4.827 4,827 Iv,000 2,685 A%tronoiny cl(Ingtion Pr¢p Scliool Geor¥e slep1ilSu1l PdvIIioii 2.718 512 15451 17.1179 5451 Foundaiion li pre1{>$ year%, thi FDun(laiTOll OtTic¢ i)sed £7,944 foi. %i)ccific i)iiijcct.s. Thc In4?joriiy Wd% utili¢d li? i)I'ioi' liiidncial ycaiE Iiiivards d new gyiii. HowLvLf. fiiiiJts I'wiidiii the piY)jLt di)n&ied tor lia5 4 balance thBt lias not yLi reachcd thi taTgcl nccL%sry tn t'ultil Ili¢ spcc1tie appc81. J.C. Hcnin -h1v- ol. clieiiiisii'y tsiucly 41 Plyinc)uili CullL¥e. Pdri uf ihts¢ fun<lts uliligcd tu pur¢lia a cup to bt alV{Trrdcd annually For Chani%iry'. Ihc runaindw hts% n(Il bceii utTlied ycl. Pre Scliml The Prep Schl1 recoived a £10,000 dviialion lowaimls Ihc furthcraiice ot Aslroiioiny ai Ilie school. Tliis ha8 1)01 btren Ulilised yei Geol IneiiiDry i)I' 1vill[L& G¢urgpc SILphensvn. £28.83] of. Ihis wa% qp-nt rjn thc returbishiiicni to dalc, alongsid¢ adclilipnal tuiids 4hup in the PavilioTI. Ai y&ir-L'nd, £1,71 ? had l)een sp¥ni on biiided c()ftee cups. M_011iir¥r % JewLIIths Duriiig the yvai., Ihe Sclivol %peiii £5.877 on S¢nioi' Sport% e4uipindii fullvwing a dondiion of £IO.(M)O trom Mortiiner's Icwcllcr%. 32
PLYMOUTH COLLLGE AND ST DIJNST AN'S ABBEY SCH()OLS CHARITY NOTES TO TIIE LONSOLIDA'I'F.D FTNANC.IAL STATEMEi%TS FOR THE YEAR EiYDED 31 AUGUST 2021 (co,TINu[D} 17. Endoived Fund$- Movoment In the Year GruP 2021 BalanLL dl 31 Augu1 202Q InL(Iliits1 Expcndiiuir l(k4%o¢tran8f¢r Aiigttst 2021 Plyiiiauth ('nllctrC Education Pi'i7.e and kholar%liip Fund 337.780 57.927 395,657 Endoiytd fund.%- CJl'OIIP 337,730 57.927 395,657 ZQ20 Balance al 31 AuguEI 2019 Inveslimeni B#ln¢e al 31 Aiigust 2020 Expciidiwrc 1055¢sliransfir Pl)qnouih College Educatioii PTiie and 357,817 {21>,0871 337.730 Endowed Futhd$- Groiip 3S7,817 20,a871 317.730 18. Opersiing Leases- Group ind Chrlty Ai 31 AuguEt 2021, thcre werc oiiisianiliiig rvininitinenis for future minimuni l¢as¢ payinenls under non-cance51able operaiing 1eaEes, whiih fd. 11 (lue as follow4.. 2021 2020 Wiiliin oiie yr BLiw¢¢n rwn aiid five ye1.. Over fiv¥ yL'drs 46,749 45,669 110,099 18.3,788 92,418 Conilneent Llabllitles Tlic Inu.%iclho81?ilalily Suitc thihplctcd and brought into usc during 2ffl4, An agreement bciween Plymouth Collcgc Trusi aiid the OPM Club Wdl ILaLhLd whthrby Ilie OPM Club yaid a Iu5e prLiniuiK ut. L4311,303 tor tlie 8raiiling c)f a ()99-y¢a1' la1idln1-l'eP&irig lea$c of Ilie hiTr%piialily $LJilc. tor a pcppcirnrn rcnl. The Plymouth College and St Dunsian s Abb¢y Schi)ols Charity pays Ihe OPM Club far the usc Vt th¢ faLililie% (lui'ing ¥¢h¢)i)I huurs. UndLY- the Icnm% of Ihc agirciiiciiL %hould IhL 01)M Club havc io vacar¢ the prunis¢& for vaTiOs IEa%ons (the likelihofKI vf wl3i¢h 1% Con%1dL I'¢inoiel Iheii Ihe TTU51 ivill IIJVL li) repJy 10 lh¢ OPM C'lub ali ainuuiil equal lo the 01?M Club re501v¢d tc) free7L this RPI Escalator for Icii y¢ar.s effeL'tivL' fiuiTh I Sl sepinbel. 201(1. l-h¢-I'rust l?clicvcs thL pth%%ihiliiy of Tcpaymr is iemnte aiid %i) ha% rcci)gni%cd ilic Incoinc aiid ha% not inCOTwraied th¢ Loniin4TLnl liability inio the ac¢ounL%. TIIL Ullliudl value a¢¢riiing will b¢ alinUc111y l?y way a nLTrIC 10 Tli¢ OPM Club lia% a clidr¥¢ ov¢r Ili¢ frtLhold prope111e wliicli will (luly iK dischargcd it clavEc 7 of Ihc l.cgt)l. Moi'lgagc and Llced of Edsciiicnl AgY¢cincnt is Iriggord wlicreby Plytnoutli College and Si Dunsian s Abbey Siiicc August 2000, tht &s%eis of Plyinoutli College Tiust hÈve beeii usixl 10 s¢cure the baiik btirrowing vl. Plyinouili CLbllege (incl Si Dun%lan'% AbhLry Scliool8 Chai'ily by guai-anlcc Ip Lloyd.5 nk l?Ic A.&scls at thL Ford Park .siic oivned hy l)lyillouili Collcgc Ti'ugl w'ere subject 10 tliis cliaiEe. During 2018-19. Ilie ¥ullrdntc¥ ¥xi¢iid¢d so Ilial 11IL. frLehvld p1Dperty aKqCls (If tliL Giuup dre used Io NCLUI'¢ bAnk horrowi118 of the Charity. Thc lev¢1 ot bonDwings cuiirnily sccuird uiidcr thi% chargc is L3,08n.9551202O.. £2.524.2401. 33
PI,YMC)UI'JI CQLI,bGTr: A.ND s'r DUNS'I'AN'S ABBEY SCHOOLS CHARITY oI'Tr's'I'Q I'IIL CI)N%OI.11)A'I-LD TrINANC'IAI, ST AI'KMEN'fs FOR THE YEAR ENDED 31 AUGUST 2021 ICONTINL ED) Th¥ 111JSt bcliLves IliL pl1%]hILl1Y of'th¢ bfjnk cxwcisiiig this charge is Irrnot¢ glid no pi'ovi.%ion hns b¢¢Ji inclu(led 20. t@¥ to thtr Statement (bfcash FJoTh$ RencilIation of net inLX)m¢ to ii¢l sli intlvw trom Op.all178 aciiviii&%'. 2021 2020 Nei Incotne 11.1,644 477.580 NUn-up"rdL17iX LJsh tILbWS eliininai¢d.. IniL'rL'%I rL¥xve(l and iiive%tinciit incoiKc 14,2861 11.3,05.1 gJ.757 15,ts 43S774 12421 15,1731 1.3.3,775 95.344 l)q)r¢ciiirinii ¢liarg¢q Amoitisatiijii ¢h8l¥CS 31,535 1363.5()31 19,869 nerca.%LJDccrc8sc In crLdilor Lo.%dGaiii an iftve%ini¢Jii% 149,749) 157,V6U} Nct cash intlow troiii op¢rdtiiig a¢tiviii¢ 490,848 404.337 2021 2.160 3811 2020 -Ll 988 694 CASH AND CASH EQuIvALETs AI. END OF THE YEAR ANALYSIS OF CASH AND CASH 8QUII'ALENT.S 364,772 12,525.1531 535,545 12.524,2391 1( nk ovixM4T&ti T<YI'AL (.'A%II A.NI) CA%H F.QIIII'ALEliT 2 160J81 1.9811694 AnAIysi5 of not dobt SLPlciiilxY Cash Ilow% Noii-La%li tlows At31 AuLJUSt 2020 2021 Ca.4h bal4tt¢es OvL'iili-ati Bank l()tiTi% duc in undcrone yT Baiik loaiis due in Inoiy Ihaii one yedr 1170.7731 1?,524.?391 12,525.1531 1555,8021 137.5WI 97.42C) 10,000 (553,3711 553,371 1600.8711 2 68() 42S 6.4 258) 12,7S3 683 21. Penston Schemes Duriiig Illi yedl., rlie SLhoul PdrtlLipdid iii a Inulti-¢mployci' Ilefined eoniribulion pciision gchthne for 11% tlachiiig %lJffr IriciLa%e Iheir coniribulioiis oi. reduee their Lmi)loyer Lonn'ibutions and ILceivc as dcldiiiniial gcil<iry. Thc School al¥v Loiili-ibLltc4 lo a detinL'd Lonrrihuiion %cliciMc for tTron-tuchill¥ biatrl'wiih ciiiployer coiitri6uii()ll% 11 70/tr ()f baslc Plc y, diid nLbW h85 ali auio-aii'olincni s¥li¥iiiL wIl-¥ il Lvnlri1)Ut¢ 3Q/o of P4?y. £67.025 was payiblc for the ycai- ciided .1 I August 2021 1?1120.. £7.3,-5851. 01.11115, £4,V143 wiis oulslaiiding ai yLar-eiid. Tli¢ P¢lill)11 Liist loi. Ihe%e scheines is reLuBiiised a% li b¢coines Pc?yable. 22. Related Parties Certain TruslLs Inay hdVL L'hildr¢n Jt the School who reeeive or scholarships: Ihe%e JrL a%s¢%std and awi'dLYI on 34
PLYIMOUTH COLLEGE AIYD ST DUNST AN'S ABBEY SCHOOLS CHARITY NOTES TO THE CONSOLIDATED FTNANCIAL STATEMENTS FOR THL YEAR ENDED.11 AUGUST 2021 ICONTINUF.DI N()-['i'ustCC PTO%'idc(I profC1Olla1 sc'FViCCS 10 Ihc school dLlI'ing Ilic ycar. 12fl20 £1,275 Total l TTu%iecl. Thc Icgal authority for pa)rni¢nl4 to TrLJSteeq is a power in the i1iariiy s govcrning docuin¢nt%. A5 ai 31 Augu%1 2021. Plymouth College Ti'usi 01v £1,545.504 1?02O,. £1,545,504110 Plyinouih College and Si Dunsian 8 AbK'y Schools ClIBriiy. As ai 31 Augbus12021. £97,701120211.. £nill was owed io Plyiii()uih Callege TTUSI. Tliis Irlale5 lo Ilie Proceed tiDin the sale of Ihc M&CJ C.liarifuiid iniJesitncnt which wcrc Axcivcd by Plyinouth Collcgc and %t Duiisiaii s Ahbcy %¢hi>nls Chdl"Ity A% al 31 August 2021. Si Duri.tall s Al?bcy SLh()ol Tru%1 owc5 £2().4341202Q.. £21.435110 ljlyiiioutli Coll¢oc a11d %1 Dun4taii AbbLy ScliDols Chqnry I his halEJnce relaic% in audit fc aiid athcr PT()tL%S101lli I %ciilcd by PlyinDuih Ci)Il¢gc and St Duiisiaii s Abbcy Schools Charity on k.half ot Si Dun%idii % AblK"y SLliuul Ti'usl. Plyinouili College diid Si Diiiislali 5 Abbtry Scliiii)l% C'harity owes £.5011.()2X 14) $1 i)uiislil1i s Ahbcy Sclionl 'l'rus1 '1'h1 bdlancc rclalo% i() Ihc IrdnfL'I- () cash ieccivcd ()n clo%ing Ihe Escn)w Account tD Irducc the tvldl ov¢rilr8ft fa¢ilily wiih Lliiyd% Baiik Plc. As ai 31 Augu,412021. Plyiiiouth College urtd Si Duii%tan s Abbey Scliool% Charily owe% £63.34012020.. £57.6401 ID Plyinoutli Colleqc EntLrprises Liiiiited N4,1io in lui'n owL% Plyiiii)uih Coll¢bJe tin(I Si Duii%lan s Abbey Scliools ('harily L22,()_38 12020.. £(),7281 a% ai Yr-Cnd. ()Ilici' grDUP cnlitios wcrc r¢chrfirgcd cosis ioialling £48,7n7 1202(1-. £47,71811)y Plyinouih CtsllLge aiid SI Dliiislaii s Abbey SLhvuls Charity. and invoiL¢d lh¢ saine ¢ntiiy 163.470 12020.. L(15,0681 foi. %ervices pruvide(l. Plyimouth C"(>llcBc fr.ni¢rprisL% Lliinai¢% aiiy ia%abl¢ p10fils iiiade cncli yegr tn l)lymouth ('nllcgc and St Dunstan % Abhcy SLhoOl Tharily in Ilie following financial year. During th¢ ycar, a suin of £15.000 was pgid lo the 5P)use of Ili¢ Head, Mrs l Hdyvurd, for the a%%istanw willi th¢ TIILXE are no oihej. related paiiy transactions or balance.% to disclose. 23. Po%t Balanc¢ Sheet Lv¢Tht In SL'pILinbcr 2021. the Pi"Lpafdlciry SLhLN)I wa5 iEII)Cdted froin Miiifields tu Ihe niain sch)7 site. The propEfiy Is held in Si Duii%idii N AbhLy 8Llionl 'frus1 and wa%.siib$e(iuLnlly pul on Ihc propcrty IM&i*el u%ing Savi11 as thc agcnt wiih t)ii aiilicipalcd 35