##
|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|Io|5|
|Report ofthe Independent
Auditors|6|to|8|
|Statement ofFinancial Activities||||
|Balance Sheet||10||
|Cash Flow Statement||||
|Notes tothe Cash Flow Statement||12||
|Notes tothe Financial Statements|13 Io||23|
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|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
||||Notes|E|8|6|8|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations
and legacies|||2|13,256|34,864|48,120|128,553|
|Charitable activities||||||||
|Advancement
ofeducation||||1,665,210||1,665,210|1,725,014|
|Other trading activities||||2,634|210|2,844|6,729|
|Investment
income||||10,833||10,833|5,341|
|Total||||1,691,933|35,074|1,727,007|1,865,637|
|EXPENDITURE ON||||||||
|Raising funds|||6|7,017||7,017|12,987|
|Charitable activities||||||||
|Advancement
ofeducation||||1,549,321|3,341|1,552,662|1,386,503|
|Total||||1,556,338|3,341|1,559,679|1,399,490|
|NET INCOME||||135,595|31,733|167,328|466,147|
|RECONCILIATION|OF FUNDS|||||||
|Total funds brought forward||||2,215,458|113,177|2,328,635|1,862,488|
|TOTAL FUNDS CARRIED FORWARD||||2,351,053|144,910|2,495,963|2,328,635|
##
||BALANCE SHEET|||
|---|---|---|---|
||31AUGUST 2022|||
||Notes|2022|2021f|
|FIXEDASSETS
Intangible assets
Tangible assets|14
15|2,409,125|900
2,098,287|
|||2,409,125|2,099,187|
|CURRENT ASSETS
Debtors|16|49,859|18,233|
|Cash at bank||1,026,781|990,787|
|||1,076,640|1,009,020|
|CREDITORS||||
|Amounts
falling due within one year|17|(603,946)|(347,054)|
|NET CURRENT ASSETS||472,694|661,966|
|TOTAL ASSETSLESS CURRENT LIABILITIES||2,881,819|2,761,153|
|CREDITORS
Amounts
falling due after more than one year|18|(385,856)|(432,518)|
|NET ASSETS||2,495,963|2,328,635|
|FUNDS|22|||
|Unrestricted
funds
Restricted funds||2,351,053
144,910|2,215,458
1'I3.177|
|TOTAL FUNDS||2,495,963|2,328,635|
##
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
||||||Notes|6|6|
|Cash flows from operating||activities||||||
|Cash generated
from operations||||||410,078|424,970|
|Interest paid||||||(13,179)|(12,279)|
|Finance costs paid||||||(7,017)|(12,987)|
|Net cash provided
by operating|||activities|||389,882|399,704|
|Cash flows from investing||activities||||||
|Purchase oftangible fixed assets||||||(364,721)|(18,554)|
|Interest received||||||866|203|
|Finance interest income||||||9,967|5,138|
|Net cash used in investing|activities|||||(353,888)|(13,213)|
|Change
In cash and cash||equivalents||in||||
|the reporting
period||||||35,994|386,491|
|Cash and cash equivalents||at|the|||||
|beginning
ofthe reporting||period||||990,787|604,296|
|Cash and cash equivalents||at|the end|of||||
|the reporting
pediod||||||1,026,781|990,787|
##
|||NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31AUGUST 2022|NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31AUGUST 2022|NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31AUGUST 2022|||
|---|---|---|---|---|---|---|
||RECONCILIATION|OF NET INCOME TO NET CASH FLOW FRONI OPERATING|||ACTIVITIES||
||||||2022|2021|
||||||8|6|
||Net income for the|reporting||period (as per the Statement ofFinancial|||
||Activities)||||167,328|466,147|
||Ad)ustments
for:||||||
||Depreciation
charges||||53,883|48,528|
||Interest received||||(866)|(203)|
||Interest paid||||13,179|12,279|
||Finance costs||||7,017|12,987|
||Amortisation
charges||||900|900|
||Finance interest income||||(9,967)|(5,138)|
||(Increase)/decrease|in debtors|||(31,626)|40,031|
||Increase/(decrease)|in creditors|||210,230|(150,561)|
||Net cash provided|by operations|||410,078|424,970|
|2.|ANALYSIS OF CHANGES||IN|NET FUNDS|||
|ANALYSIS OF CHANG|ES
IN NET FUNDS||||
|---|---|---|---|---|
|||At 1.9.21|Cash flow
6|At31.8.22
f|
|Net cash|||||
|Cash at bank||990,787|35,994|1,026,781|
|||990,787|35,994|1,026,781|
|Debt|||||
|Debts falling due within|1 year|(48,505)|(1,030)|(49,535)|
|Debts falling due aRer 1 year||(386,778)|48,050|(338,728)|
|||(435,283)|47,020|(388,263)|
|Total||555,504|83,014|638,518|
##
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##
|DONATION|S
AND LEGACIES|||
|---|---|---|---|
|||2022|2021|
||||E|
|Donations||44,495|120,965|
|Gift aid||3,625|7,588|
|||48,120|128,553|
|OTHER TRADING ACTIVITIES||||
|||2022f|2021
6|
|Fundraising|events|2,844|6,729|
|INVESTMENT INCOME||||
|||2022f|2021f|
|Deposit account interest||391|203|
|Finance interest income||10,442|5,138|
|||10,833|5,341|
##
##
##
##
|INCOME FR|O|M C|HARITA|BLE ACTIVITIES|||||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
|||||Activity||||6|
|School fees and bursades||||Advancement|ofeducation||1,617,908|1,701,172|
|School trips and sales||||Advancement|ofeducation||39,446|19,062|
|Rental income||||Advancement|of education||2,290|880|
|Sundry income||||Advancement|of education||5,066|3,900|
|Grants||||Advancement|ofeducation||500||
||||||||1,665,210|1,725,014|
|Grants received, included||||in the above, are as|follows:||||
||||||||2022|2021|
||||||||F.||
|Evolve Advice|||||||500||
|RAISING FUNDS|||||||||
|Raising donations|||and legacies||||||
||||||||2022|2021|
||||||||F|6|
|Finance cost|||||||7,017|12,987|
|CHARITABLE||ACTIVITIES COSTS|||||||
|||||||Direct|Support||
|||||||Costs (see|costs (see||
|||||||note 8)|note 9)
6|Totalsf|
|Advancement||ofeducation||||1,211,480|341,182|1,552,662|
|DIRECT COSTS OF CHARITABLE ACTNITIES|||||||||
||||||||2022|2021|
|||||||||6|
|Staff costs|||||||834,996|698,537|
|Educational|resources||||||63,298|43,948|
|Trips, camps|and||events||||43,475|20,986|
|Training|||||||2,635|538|
|DBSand licences|||||||9,781|10,895|
|Fundraising|costs||||||16,861|24,740|
|Burssries|||||||240,434|299,671|
||||||||1,211,480|1,099,315|
##
##
##
##
|SUPPORT C|OSTS|||||||
|---|---|---|---|---|---|---|---|
|||||||Governance||
||||||Management|costs
f|Totals|
|Advancement|ofeducation||||336,174|5,008|341,182|
|Support costs, included|||in|the above, are as follows:||||
|Management||||||||
|||||||2022|2021|
|||||||Advancement||
|||||||of|Total|
|||||||education
f|activities|
|Wages||||||120,000|102,000|
|Hire ofplant|and machinery|||||20,356|18,044|
|Rates and water||||||12,821|14,966|
|Insurance||||||18,786|16,438|
|Light and heat||||||6,106|7,963|
|Minibus and|car park expenses|||||7,878|3,352|
|Legal and professional||fees||||16,432|8,602|
|Repairs and|maintenance|||||38,093|23,353|
|Stationery, postage and|||phone|||21,934|18,373|
|Sundry expenses||||||5,332|7,377|
|Donations||||||474||
|Amortisation|ofintangible|||fixed assets||900|900|
|Depreciation|oftangible||assets|||53,883|48,529|
|Bank interest||||||1,924|1,633|
|Mortgage interest||||||11,255|10,150|
|Loan interest|||||||496|
|||||||336,174|282,176|
|Governance|costs|||||||
|||||||2022|2021|
|||||||Advancement||
|||||||of|Total|
|||||||education|activities|
|||||||f||
|Auditors'
remuneration||||||5,008|5,012|
|NET INCOME/(EXPENDITURE)||||||||
|Net income/(expenditure)||||is stated after charging/(crediting):||||
|||||||2022f|2021f|
|Auditors'
remuneration||||||5,008|5,012|
|Depreciation|-owned assets|||||53,883|48,528|
|Hire of plant|and machinery|||||20,356|18,044|
|Website amortisation||||||900|900|
##
##
##
##
##
|STAFF COST|S|||||
|---|---|---|---|---|---|
|||||2022f|2021f|
|Wages and salaries||||892,301|749,356|
|Social security|costs|||53,967|39,161|
|Other pension|costs|||8,728|12,020|
||||||800,537|
|The average monthly||number ofemployees|during the year was as follows:|||
|||||2022|2021|
|Advancement|ofEducation|||60|58|
|Support staff||||10|9|
|||||70|67|
##
##
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds
f|fundsf|funds
F|
|INCONIE AND ENDOWNIENTS|FRONI||||
|Donations
and legacies||16,418|112,135|128,553|
|Charitable
activities|||||
|Advancement
ofeducation||1,724,014|1,000|1,725,014|
|Other trading activities||6,687|42|6,729|
|Investment
income||5,341||5,341|
|Total||1,752,460|113,177|1,865,637|
|EXPENDITURE ON|||||
|Raising funds||12,987||12,987|
|Charitable
activities|||||
|Advancement
ofeducation||1,386,503||1,386,503|
|Total||1,399,490||1,399,490|
##
||NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31AUGUST 2022|NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31AUGUST 2022|NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31AUGUST 2022|NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31AUGUST 2022||
|---|---|---|---|---|---|
|13.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -continued|||||
||||Unrestricted|Restricted|Total|
||||funds|funds
8|fundsf|
||NET INCOME||352,970|113,177|466,147|
||RECONCILIATION|OF FUNDS||||
||Total funds brought|forward|1,862,488||1,862,488|
||TOTAL FUNDS CARRIED FORWARD||2,215,458|113,177|2,328,635|
|14.|INTANGIBLE FIXEDASSETS|||||
||||||Website|
||||||F|
||COST|||||
||At 1 September 2021 and 31 August 2022||||4,500|
||AMORTISATION|||||
||At 1 September 2021||||3,600|
||Charge for year||||900|
||At 31 August 2022||||4,500|
||NET BOOKVALUE|||||
||At 31August 2022|||||
||At 31 August 2021||||900|
|15.|TANGIBLE FIXEDASSETS|||||
|||||Improvements||
||||Freehold|to|Plant and|
||||property|property|machinery|
||||6|8|6|
||COST|||||
||At 1 September 2021||2,100,000||19,992|
||Additions|||327,376|4,203|
||At 31August 2022||2,100,000|327,376|24,195|
||DEPRECIATION|||||
||At 1 September 2021||29,600||17,824|
||Charge for year||29,600||1,547|
||At 31 August 2022||59,200||19,371|
||NET BOOKVALUE|||||
||At 31 August 2022||2,040,800|327,376|4,824|
||At 31 August 2021||2,070,400||2,168|
##
##
##
|TANGIBLE FIXEDASSETS|- continued||||
|---|---|---|---|---|
||Fixtures||||
||and|Motor|Computer||
||fittings
f|vehicles
8|equipment
8|Totals
6|
|COST|||||
|At 1 September 2021|82,721|14,700|65,187|2,282,600|
|Additions|18,073||15,069|364,721|
|At 31 August 2022|100,794|14,700|80,256|2,647,321|
|DEPRECIATION|||||
|At 1 September 2021|68,753|14,700|53,436|184,313|
|Charge for year|9,594||13,142|53,883|
|At 31August 2022|78,347|14,700|66,578|238,196|
|NET BOOKVALUE|||||
|At 31 August 2022|22,447||13,678|2,409,125|
|At 31August 2021|13,968||11,751|2,098,287|
|Cost orvaluation
offreehold|property at 31 August 2021 is represented|by:|||
|Revaluation
in 2020||||200,000|
|Revaluation
in 2015||||272,285|
|Revaluation
in 2010||||(421,687)|
|Cost||||2,049,402|
|||||2,100,000|
|Iffreehold|property
had not been revalued
it would hav|e been included at the following
historical co|st:|
|---|---|---|---|
|||2022f|2021
8|
|Cost||2,049,402|2,049,402|
|Aggregate|depreciation|827,009|790,572|
##
|16.|DEBTORS:AM|OUNT|S|FALLING DUE WITHIN ONE YEAR|FALLING DUE WITHIN ONE YEAR|FALLING DUE WITHIN ONE YEAR|FALLING DUE WITHIN ONE YEAR|FALLING DUE WITHIN ONE YEAR|||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2022|2021|
||||||||||F|F|
||Trade debtors
Other debtors||||||||18,516
3,617|(18,351)
7,581|
||P repayments||||||||27,726|29,003|
||||||||||49,859|18,233|
|17.|CREDITORS: AMOUNTS||||FALLING DUE WITHIN ONE YEAR||||||
||||||||||2022
f|2021
f|
||Bank loans and overdrafts||||(see note 19)||||49,535|48,505|
||Fees in advance||||||||303,804|251,179|
||Trade creditors||||||||139,320|24,050|
||Social security and other|||taxes|||||14,199|9,779|
||Other creditors||||||||1,602|504|
||Accruals and deferred||income||||||95,486|13,037|
||||||||||603,946|347,054|
||Fees in advance|represents||||school fees received||in advance for future academic|years.||
||||||||||2022|2021|
|||||||||||f|
||Brought forward||||||||292,114|328,542|
||Amount released|to incoming||||resources|||(99,624)|(182,884)|
||Amount deferred|in year|||||||158,442|146,457|
||Carried forward||||||||350,932|292,114|
|18.|CREDITORS: AMOUNTS||||FALLING DUE AFTER INORE THAN ONE YEAR||||||
||||||||||2022
f|2021
f|
||Bank loans (see
Fsesin advance|note|19)||||||338,728
47,128|386,778
45,740|
||||||||||385,856|432,518|
|19.|LOANS||||||||||
||An analysis ofthe maturity||||ofloans is given||below:||||
||||||||||2022
f|2021
F|
||Amounts
falling due within||||one year on demand:||||||
||Bsnkloans||||||||49,535|48,505|
||Amounts
falling due between|||||two and five years:|||||
||Bankloans||||||||133,710|145,636|
||Amounts
falling due in||more|||than five years:|||||
||Repayable
by instalments:||||||||||
||Bankloans||||||||205,018|241,142|
||||||||Page 20|||continued, .„|
##
##
##
##
|ANALYSIS O|F NET ASSETS B|ETWEEN FUNDS||||
|---|---|---|---|---|---|
|||||2022|2021|
|||Unrestricted|Restricted|Total|Total|
|||fundsf|funds
6|funds
F|funds
6|
|Fixed assets||2,409,125||2,409,125|2,099,187|
|Current assets||931,730|144,910|1,076,640|1,009,020|
|Currant
liabilities||(603,946)||(603,946)|(347,054)|
|Long term liabilities||(385,856)||(385,856)|(432,518)|
|||2,351,053|144,910|2,495,963|2,328,635|
|MOVEMENT|IN FUNDS|||||
|||||Net||
|||||movement|At|
||||At 1.9.21|in funds
f|31.8.22|
|Unrestricted|funds|||||
|General fund|||2,115,063|128,975|2,244,038|
|Revaluation
reserve|||50,598||50,598|
|Enrichment
fund|||49,797|6,620|56,417|
||||2,215,458|135,595|2,351,053|
|Restricted funds||||||
|Mugs fund|||113,177|31,733|144,910|
|TOTAL FUNDS|||2,328,635|167,328|2,495,963|
|Net movement|in funds, included|in the above are as follows:||||
||||Incoming|Resources|Movement|
||||resources|expended|in funds|
||||6|E||
|Unrestricted|funds|||||
|General
fund|||1,674,840|(1,545,865)|128,975|
|Enrichment
fund|||17,093|(10,473)|6,620|
||||1,691,933|(1,556,338)|135,595|
|Restricted funds||||||
|Mugs fund|||35,074|(3,341)|31,733|
|TOTALFUNDS|||1,727,007|(1,559,679)|167,328|
##
##
##
##
||||||Net||
|---|---|---|---|---|---|---|
||||||movement|At|
|||||At 1.9.20
f|in funds|31.8.21|
|Unrestricted|funds||||||
|General fund||||1,765,120|349,943|2,115,063|
|Revaluation|reserve|||50,598||50,598|
|Endchment|fund|||46,770|3,027|49,797|
|||||1,862,488|352,970|2,215,458|
|Resbfcted|funds||||||
|Mugs fund|||||113,177|113,177|
|TOTAL FUNDS||||1,862,488|466,147|2,328,635|
|Comparative|net movement|in funds,|included|in the above are as follows:|||
|||||Incoming|Resources|Movement|
|||||resources
f|expended|in funds
f|
|Unrestricted|funds||||||
|General fund||||1,742,027|(1,392,084)|349,943|
|Enrichment|fund|||10,433|(7,406)|3,027|
|||||1,752,460|(1,399,490)|352,970|
|Restricted|funds||||||
|Mugs fund||||113,177||113,177|
|TOTAL FUNDS||||1,865,637|(1,399,490)|466,147|
##
##
##
##
##
##