2021-12-31-accounts - The Association Of Governing Bodies Of Independent Schools

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Board Members
Mark Taylor (Chair) ¹~ David Taylor (Deputy Chair)¹ Sarah Phillips (Treasurer) Rosie Allen¹(appointed 18March 2021) Charles Barwell *	Tring Park School for Performing Arts St Lawrence College King Alfred School City of London School Rugby School, Malvern College
Tom Beardmore-Gray (appointed 18March 2021) Margot Chaundler Julie Cornell ¹	St	Prep Schools Trust Emanuel School George's School, The Abbey School
Sam Coutinho * (appointed 18March 2021) Paul Dillon-Robinson ¹ / Pamela Edmonds ¹(retired 18 March 2021) Mike Gregson (Deputy Chair) * / Susan King ~ Irfan Latif ~ (appointed as co-optee 22 March 2021) Katie Lancaster ¹~	Plymouth College, Copthorne Prep School Hurstpierpoint College St Michael's Prep School The Edinburgh Academy Queen Margaret's School, York Greenfield School Kimbolton School
Alison Martin *		Warminster School
Rosemary Martin (resigned 8 December 2021) Revd. Richard Peers ~ k	Brentwood School, St Mary's	Gerrards Cross, Headington School Christ Church Cathedral School
Sue Ross * Nigel Taylor¹ Gillian Winter¹	Francis Holland	Schools Trust until December 2020 Marlborough House School Bury Grammar Schools

				Total	Total
			Notes	2021	2020
INCOME FROM:
Charitable activities:
Governors' Seminars and Webinars				94,774	104,324
AGM contributions				27,408	66,874
Training				128,462	71,615
Ancillary income				8,708	2,436
Donations and grants				456	9,517
Other trading activities:
Subscriptions				368,015	355,531
Income from investments				6,606	5,816
				634,429	616,113
EXPENDITURE ON:
Charitable activities				609,856	628,922
				609,856	628,922
Net income before investment		gains/(losses)		24,573	(12,809)
Net gain/(loss) on investments				27,387	(27,737)
NET MOVEMENT IN	FUNDS			51,960	(40,546)
Balance brought forward	at 1 January 2021			360,193	400,739
Balance carried forward	at 31	December 2021		K412,153	K360,193

						2021		2020
					Notes
FIXEDASSETS
Tangible fixed assets						39,343	60,241
Investments						225,746	198,359
							265,089	258,600
CURRENT ASSETS
Bank accounts						525,382	418,990
Debtors						135,827	117,877
						661,209	536,867
CURRENT LIABILITIES
Creditors: amounts due within			one	year	6	(499,158)	(407,613)
NET CURRENT ASSETS							162,051	129,254
TOTAL ASSETSLESSCURRENT							427,140	387,854
LIABILITIES
NON CURRENT LIABILITIES
Pension liability					10		(14,987)	(27,661)
NET ASSETS							X412,153	K360,193
REPRESENTED BY
UNRESTRICTED FUNDS:
General Fund (including	revaluation
gain off50,746 (2020:623,359 gain)							K412,153	K360,193
These accounts are prepared		in	accordance		with the special provisions ofPart 15ofthe Companies			Act relating to small
companies and constitute	the	annual		accounts required		by the Companies	Act 2006.

						2021	2020
					Note
Cash flows from operating activities:						101,641	(256)
Cash flows from investing activities:
Investment income						6,606	5,816
Payments to acquire tangible fixed assets						(1,855)	(65,107)
Net cash provided by investing		activities				4,751	(59,291)
Change	in cash and cash equivalents		in the reporting	period		106,392	(59,547)
Cash and cash equivalents at the beginning ofthe reporting					period	418,990	478,537
Cash and cash equivalents at the end			ofthe reporting	period		K525,382	6418,990
NOTE	TO THE CASHFLOW	STATEMENT
a	RECONCILIATION OF NET MOVEMENT			IN FUNDS TO NET		2021	2020
	CASH FLOW FROM	OPERATING ACTIVITIES
	Net movement in funds					51,960	(40,546)
	Investment income					(6,606)	(5,816)
	Depreciation					22,753	6,283
	Losses/(gains) on investments					(27,387)	27,737
	(Increase) in debtors					(17,950)	(5,808)
	Increase in creditors					78,871	17,894
	Net cash from operating	activities				8101,641	K(256)
b	ANALYSIS OF CHANGES		IN NET FUNDS
					At start	Cash	At end
					ofyear	Flows	ofyear
	Bank current accounts				37,834	1,386	39,220
	Bank deposit accounts				381,156	105,006	486,162
					f418,990	f.106,392	K525,382


EXPENDITURE ON CHARITABLE ACTIVITIES		2021	2020
Staff costs		428,141	448,350
Office expenses		63,308	60,686
Printing, postage and telephone		7,060	8,071
Meetings and travel		2,942	1,253
Governors' seminars		15,361	22,616
AGM expenses		1,000	41,906
Governance review costs		38,076	15,775
Professional fees		24,265	20,218
e-Learning courses		6,950	3,764
Depreciation		22,753	6,283
		K609,856	K628,922
Governance costs (within professional fees) include
Auditor's remuneration
—Audit		f.6, 100	K5,700
- Other services		K840	f.810
FIXEDASSETS		Computer
	Office	Equipment/
	Equipment	Software	Total
COST
At I January 2021	9,059	185,462	194,521
Additions	575	1,280	1,855
At 31 December 2021	9,634	186,742	196,376
DEPRECIATION
At I January 2021	8,857	125,423	134,280
Charge for the year	334	22,419	22,753
At 31 December 2021	9,191	147,842	157,033
NET BOOK VALUE
At 31 December 2021	f443	5,38,900	S,39,343
At 31 December 2020	$202	K60,039	K60,241

4.	INVESTMENTS			2021	2020
	Market value at 1 January 2021			198,359	226,096
	Net investment gains/(losses)			27,387	(27,737)
	Market value at 31 December	2021		K225,746	f198,359
	Historical cost at 31 December 2021			$175,000	K175,000
	The investment is held in CAF	UK Equitrack	Fund units.
5.	DEBTORS			2021	2020
	Other debtors			119,556	100,830
	Prepayments and accrued income			16,271	17,047
				f.135,827	f.117,877
6.	CREDITORS			2021	2020
	Other creditors and accruals			41,827	36,707
	Subscriptions in advance			405,770	365,911
	Other fees and contributions	in advance		48,520	1,375
	Pension scheme liability (note 10)			3,041	3,620
				K499,158	K407,613
	Deferred income at 1 January	2021			f367,286
	Amounts released from previous years				(367,286)
	Resources deferred during the year				454,290
	Deferred income at 31 December 2021				K454,290

one employee had remuneration b	etween K	120,000 and K130,000 in the	year).
The average number ofemployees	analysed	by function was:	2021		2020
			No.		No.
Chief Executive
Full time employees
Part time employees
				7

ommitted llows:	to m	ake at the balance sheet date in r	espect of operati	ng lease for each	ofthe followin	g periods wer
			Land and	buildings	Office	equipment
			2021	2020	2021	2020
Not later	than	I year	6,375	8,500
Later than	1 year and not later than 5 years			6,375

Gilt ield								0.92
Market im lied inflation	rate							3.15
Pre retirement discount	rate		Normal	ilt	ield	curve		lus 0.5%	a at each term
Post retirement discount	rate		Normal	ilt	ield	curve		lus 0.5%	a at each term
Rate of rice inflation RPI				Gilt	inflation		curve at each term
Rate of rice inflation	CPI		RPI inflation			less		1.0% a at each term
Return on assets over deficit recove		eriod					0.35