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2021-08-31-accounts

Contents Page
Governors, Officers and Advisers
AnnualReport oftheGovernors 3
StrategicReport 10
Statement of AccountingandReportingResponslbllitles 17
Independent Auditor's Report 18
Consolidated Statement of financial Activities 22
Consolidated and Colfe's SchoolBalanceSheets 23
Consolidated Statement of CashFlows 24
NotestotheFlnancfalStatements 25-43


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Yearto31 Aug Yearto31Aug
2021 2020
UKenergyusekwh
• electricity 900,715 823,794
•gas 2,610,441 1,917,460
•total 3,511,156 2,741,254
AssociatedGreenhousegasemissions tonnesC02equlvalent2
- electricity 208,173 208,576
-gas 478,128 352,563
•total 686,301 561,139
Intensity ratio emissions - perm3floor area
- electricity 14.14 14.17
-gas 32.48 23.95
-total 46.62 38.12
Intensity ratio emissions per headcount (student&staffm)
• electricity 142 153
-gas 326 259
-total 468 412
Annualenerauseandcarbonemissions:

20 April 2022

Notes
INCOMEANDEXPENDITURE
Income from :
Charitable activites
Schoollees
2
Othereducational&ancililaryactlvltfes
4
Othertrading acdvlties
Colfe'sLeisureServicesLtd
3
OtherIncome
Investments
8d
Grants and Donations
Total Income
Expenditureon:
Raisingfunds
Colfe'sLelsureServicesLed
6a
Charitable activities
Provisionof eduadon
6b
Total expenditure
Netincome_I_(expenditure) before Investment
and actuarial gains_I_(losses)
Pensionschemeactuarialgains
IS
Netlnvestmontgains/(losses)
8
Netincome/(expenditure)
Transfersbetweenfunds
12
NetmovementInfunds
Fundbalancesat ISeptember2020
FUNDBALANCESat31August2021
12		 Unrestricted
Funds
£'000
16,904
1,173
403
288
106
18,874		 Restricted
Funds
£'000
27
488
SIS		 Freehold
Property
Funds
£'000		 Endowed
Funds
£'000		 Total
Funds
2021
£'000
16,904
1,173
403
288
133
488
19,389		 Total
Funds
2020
cooo
IS,104
1,470
402
829
1S3
S78
l8.S36
425
17.583		 10 556 66 425
18,215		 S02
17,955
18,457
18,008 10 556 66 18,640
866
23
511		 505
31		 (556) (66)
IOI		 749
23
643
1,415		 79
22
(387)
1,400
435		 536
(478)		 (556)
43		 35 (286)
1,835
745		 58
951		 (Sil)
13.420		 35
3.225		 1,415
18,341		 (286)
18,627
2,580 1,009 12,907 3,260 19,756 18,341

Notes
FIXED ASSETS
TangibleRxedAssets
7
Investmentassets
8
CURRENT ASSETS
Debtors
9
Cashatbankandinhand
CREDITORS:duewithinoneyear
10
NETCURRENT ASSETS
TOTALASSETSLESSCURRENTLIABILITLES
LONG TERM LIABILITIES
Creditorsdueafteroneyear
II
TOTALNETASSETS
Representedby:
ENDOWEDFUNDS
12a
FREEHOLD PROPERTYFUND
llb
RESTRICTED FUNDS
12c
UNRESTRICTEDFUNDS
Generalfunds
TOTALFUNDS
12		 Group
2021
2020
£"000
cooo
16,938
17,423
3,786
3,143
20,724
20,566
439
471
3,883
2,633
4,322
3,/04
(4,005)
{3,422}
317
{318}
21,041
20,248
(1,285)
(1,907)
19,756
18,341
3,260
3,225
12,907
13,420
1,009
951
2,580
745
19,756
18,341		 Group
2021
2020
£"000
cooo
16,938
17,423
3,786
3,143
20,724
20,566
439
471
3,883
2,633
4,322
3,/04
(4,005)
{3,422}
317
{318}
21,041
20,248
(1,285)
(1,907)
19,756
18,341
3,260
3,225
12,907
13,420
1,009
951
2,580
745
19,756
18,341		 Cotfe's School
2021
2020
£'000
£'000
16,933
17,41S
4,077
3,382
21,010
20,797
411
457
3,554
2,34S
3,965
2,802
(3,934)
{3,351}
31
{549}
21,041
20,248
(1,285)
(1,907}
19,756
18,341
3,260
3,225
12,907
13,420
1,009
951
2,580
74S
19,756
18,341		 Cotfe's School
2021
2020
£'000
£'000
16,933
17,41S
4,077
3,382
21,010
20,797
411
457
3,554
2,34S
3,965
2,802
(3,934)
{3,351}
31
{549}
21,041
20,248
(1,285)
(1,907}
19,756
18,341
3,260
3,225
12,907
13,420
1,009
951
2,580
74S
19,756
18,341
20,566 21,010
471
2,633		 411
3,554
3,/04
{3,422}
{318}		 3,965
(3,934)		 2,802
{3,351}
{549}
31
20,248
(1,907)
18,341		 21,041
(1,285)		 20,248
(1,907}
18,341
19,756
3,225
13,420
951
745
18,341		 3,260
12,907
1,009
2,580		 3,225
13,420
951
74S
18,341
19,756

Netcash flowfromoperatingactivities
Netcashprovidedbyoperatingactivities
Cash flows from investing activities
Cash flowsfromfinancing activities
ChangeIncashandcash equivalentsIntheyear
Recondllationofnetcashflowtomovementinnetfunds :
CashandcashequivalentsatISeptember2020
Cash and cash equivalentsattheendoftheyear
A
B
C
D
A Reconciliationofnetmovementsinfundstonetcash providedbyoperating activities
NetmovementInfunds(asper the statementofflnandalactivities)
Depreciationcharge
Decrease/(Increase)InDebtors
IncreaseinCreditors
Loaninterest
Investmentincome
Netinvestment(gains)/losses
Pensionschemegains
Netcashprovidedbyoperatingactivities
BCashflows from investing activities
Purchaseoftangiblefixedassets
InvestmentIncome
NetcashusedinInvestingactivities.
CCashflowsfromfinancingactivities
Repaymenuofborrowing
CashlnRowsfromnewborrowing
Netcash usedInfJnandng activities
DCash andcashequivalents
CashatbankandInhand
2021
£
1000
2,207
(633)
(324)
1,250
2,633
3,883
1,415
1,250
32
210
99
(133)
(643)
(23)
2,207
(766)
133
(633)
(324)
(324)
3,883		 2021
£
1000
2,207
(633)
(324)
1,250
2,633
3,883		 2020
1:000
1,118
(428)
(231)
459
2,174
2,633
(286)
1,095
(86}
78
105
(1S3)
387
{22)
1,118
(581)
/53
(633) (428)
(324)
(324)
3,883		 {231)
(231)
2,633

Unrestricted Funds
2021 2020
£'000 cooo
19,550 17,597
(2,646) (2,493}
16,904 15,104

Income
Expendlwre
NetInvestment(losses)/gains
Pensionschemegains
NetmovementInfunds
Tanglblefixedassets
Investments
TotalAxedAssets
Current assets
Currentllabllltles
Net Current Assets/(Liabilities)
TotalAssetslessCurrent
Uabllltles
long term creditors
Totalnet assets		 School
Foundadon
£'000
£'000
18,855
494
(18,123)
(529)
562
132
23
1,317
97
1,983
14,950
3,269
808
5,252
15,758
15,630
873
(3,934)
{12,538)
11.696
(11,665)
16,948
4,093
{1,285)
15,663
4,093		 CLS
£'000
518
(466)
52
5
s
358
(72)
286
291
291		 Adjustments
£'000
(478)
478
(SI)
(SI)
(291)
(291)
(12,539)
12,539
(291)
(291)		 2021
Total
£'000
19,389
(18,640)
643
23
1,415
16,938
3,786
20,724
4,322
(4,005)
317
21,041
(l,285)
19,756
2020
Total
£'000
18,536
(18,457}
(387}
22
(286)
17,423
3,/43
20.566
3,103
(3,421)
(318}
20,248
(1,907)
18,341

4
OTHER INCOME
Other educational activities
ExamlnatlonFees
Registrationfees
OutdoorPursuitsandEducationalvisits
OtherIncome
Other ancillary activities
CateringIncome
Wraparoundcare
Otherschooltrips
OtherIncome
TotalOtherIncome
5
STAFFCOSTS
Total staff costs comprised:
Wagesandsalaries
Socialsecuritycosts
Pensioncontributions
TheaveragenumberofemployeesIncheyearwas:
School
Subsidiary		 UnrestrictedFunds
2021
2020
£'000
£000
82
66
215
75
438
423
117
61
133
735
1,173
2021
£'000
10,123
1,062
1,716
82
51
354
141
634
373
145
216
102
836
1,470
2020
£
1000
9,872
1,025
1,678
12,901
I2,S7S
290
52
342
291
62
353		 UnrestrictedFunds
2021
2020
£'000
£000
82
66
215
75
438
423
117
61
133
735
1,173
2021
£'000
10,123
1,062
1,716
82
51
354
141
634
373
145
216
102
836
1,470
2020
£
1000
9,872
1,025
1,678
12,901
I2,S7S
290
52
342
291
62
353
634
373
145
216
102
836
1,470
2020
£
1000
9,872
1,025
1,678
I2,S7S
291
62
353
Thenumberofhigherpaidemployeeswas:
Taxableemolumentsband:
£60,00I -£70,000
ao,oo1 -£80,000
£80,00I -£90,000
£90,001-£100,000
£100,001- £110,000
£110,001-£120.000
£200,001-£210,000
£210,00I •£220,000
£220,00I •£230,000
ThenumberwithretirementbenefitsaccruingIn
-DefinedBenefitSchemes		 2021
No.
20
No.
16
6
I
2
13
4
2
13
19

(a)Costsofraising funds
Tradingcosts of thesubsidiary
(b) Charitable activities
Teaching
Otheractivities
Buildingsdepreciation
Premises
Support costs ofschooling
Governancecost
Schoors operating costs
Awardsandprizes
Total expenditure		 Staff
Other
Depreciation
costs
costs
£'000
£'000
£'000
382
41
2
10.217
999
430
1,193
622
915
1,697
196
1,387
524
25
12,519
4,438
1,248
10
12,519
4,448
1,248
12,901
4,489
1.250
2021
2020
Total
Total
£'000
£'000
425
502
11,646
11,331
1,193
1,573
622
504
2,808
2,459
1,911
2,051
25
28
18,205
17,946
10
9
I8,215
17,955
18.640
18.457

Cost
I September2020
Additions
Disposals
31August2021
Depreciation
I September2020
Chargeforyear
Disposals
3 IAugust2021
Netbook values
31August2021
31August2020		 Freehold
Assets
Landand
under
Motor
Furniture&
School
Furniture&
Buildings
Construction
Vehicles
Equipment
Total
Equipment
£'000
£'000
£'000
£
1000
£'000
£'000
27,345
371
68
4,150
31,934
in
36
7
3
720
766
(18)
27,381
378
71
4,870
32,700
154
I1,594
68
2,857
14,519
165
506
116
626
1,148
2
(18)
12,100
116
68
3,483
15,767
149
15,281
262
3
1,387
16,933
s
15,751
371
1,293
17,415
8
Subsidiary
Total
£'000
172
(18)
154
165
2
(18)
149
5
8
Group
Total
£'000
32,106
766
(18)
32,854
14,683
1,150
(18)
I5,916
16,938
17,423

2021
Market value:
ListedInvestments
InvestmentProperty
Grouptotal
Atfairvalue
tnvesanentInSubsidiary
School total
Group unrealised gains on investments included above:
Listed Investments
Marketvalueat l September2020
Netunrealisedgain
Marketvalueat31August2021
Historiccost at31August2021
AlllistedInvestmentsareheldinunittrustsorcommonInvestmentfunds.
£'000
Ba
2,911
8b
875
3,786
8c
291
4,077		 2020
eooo
2,393
750
3,143
239
3,382
£'000
2,393
518
2,911
1,704

InvestmentProperty
Marketvalueat I September2020
UnrealisedGainonInvestment
Marketvalueat31August2021
Historiccost at31August2021
InvestmentInSubsidiary
Fairvalue
AtISeptember2020
Gainfortheyear
At31August2021		 £'000
750
125
875
413
£
1000
239
52
291

QuotedInvestments
Bankdeposits
PropertyInvestment
Total2021
Total2020		 Unrestricted
Funds
83
s
18
106
121		 Restricted
Funds
27
27
32		 2021
Total
£'000
110
5
18
133		 2020
Total
£'000
124
II
18
153
153

Amountsduefromsubsidiarycompany
Schoolfees
Tradedebtors
Sundrydebtors
Prepayments&AccruedIncome		 Group
Colfe's School
2021
2020
2021
2020
£'000
eooo
£'000
eooo
29
76
68
76
68
13
34
33
75
74
75
32
275
295
260
295
439
471
411
457
Bankloan
Tradecreditors
Taxationandsocialsecurity
Other creditorsandaccruals
PupilDeposits
Pensiondeficitrecoverypayments(noteIS)
Feesreceivedinadvance		 Group
Colfe's School
2021
2020
2021
2020
£'000
eooo
£'000
eooo
637
265
637
265
531
265
528
26I
486
468
475
453
728
750
671
698
1,292
1,237
1,292
1,237
25
24
25
24
306
413
306
413
4,005
3,422
3,934
3,351

Pensiondeficitrecoverypayments(note15)
Bankloan1-2years
Bankloan2 • 5years		 Group
Colfe's School
2021
2020
2021
2020
£'000
£'000
£'000
eooo
64
89
64
89
637
324
637
324
584
t,494
584
1,494
1,285
1,907
1,285
1,907

Endowment funds
Freehold Property fund
Restricted funds
Unrestricted funds
Colfe's School
Colfe's LeisureServicesLimited
Group
Endowmentfunds
FreeholdPropertyfund
Restrictedfunds
Unrestrictedfunds
Colfe's_School_
Colfe'sLeisureServicesLimited
Group		 Fixed
Assets
£'000
2,641
12,907
1,385
16,933
s
16,938
Fixed
Assets
£'000
2,707
13,420
1,288
17,415
8
17,423		 Investments
£'000
619
201
3,257
4,077
(291)
3,786
Investments
£000
518
/59
2,705
3,382
(239)
3,143		 NetCurrent
Assets/
(Liabilities)
£'000
808
(777)
JI
286
317
NetCurrent
Assets
£000
792
(1,341)
(549)
231
(318)		 LongTerm
Liabilities
£'000
(1,285)
(1,285)
(1,285)
LongTerm
Liabilities
£'000
(1,907)
(1,907)
(1,907)
Fund
Balance
2021
£'000
3,260
12,907
1,009
2.sao
19,756
19,756
Fund
Balances
2020
£'000
3,225
13,420
951
745
18,341
/8,34/

Endowments:
Property
Prizesandother bequestfunds
Total
Property
Prizesandotherbequest_funds
_Total		 Balanceat
Expenditure
Investment
ISeptember
Gains /(losses)
2020
£'000
£'000
£'000
2.707
(66)
518
IOI
3,225
(66)
IOI
IstSeptember
2019
£000
£000
£000
2,773
(66)
541
(23)
3,314
(66)
(23)
Balanceat
31August
2021
£'000
2,641
619
3.260
31st_August
_2020
£000
2.707
5/8
3,225

GrantsandDonations
Prizesandotherbequestfunds
GrantsandDonations
Prizes_andother_bequest_funds_		 Balanceat
ISeptember
2020
£'000
18
933
951
2019
£'000
18
930
948		 Income
£'000
488
27
515
£'000
578
31
609		 Expenditure
£'000
(10)
(10)
£'000
(9)
(9)
Fund
Transfers
£'000
(478)
(478)
£'000
(569)
(569)		 Investment
Galns/(Losses)
£'000
31
31
£'000
(28)
(28)		 Balanceat
31August
2021
£'000
18
991
1,009
2020
£'000
18
933
951

Group Colfe'sSchool
2021 2020 2021 2020
£'000 £'000 £'000 £'000
Amountsfallingdue:
Withinoneyear 43 70 43 70
Duewithin2 - Syears 43 88 43 88
DueInmorethan_S_years 10 10
96 158 96 158

INCOMEANDEXPENDITURE
Incomefrom:
Charitableact:Mtes
Schoolfees
Othereducational&ancllllaryactivities
Othertradingactivities
Cclfe'sLeisureServicesLtd
OtherIncome
Investments
Donations&Legacies(restricted)
Expenditureon:
Raising funds
Colfe'sLeisureServicesLtd
Charitable actlvldes
Provisionofeducation
TotalIncome
Totalexpenditure
NetIncome/(expenditure)beforeInvestment
and actuarial gains /(losses)
Pensionschemeactuarialgains/(losses)
NetInvestmentgains
NetIncome/(expenditure)
Transfersbetweenfunds
Netmovementinfunds
FundBalancebroughtforwardat ISeptember2019
aspreviouslystated
FUNDBALANCESat31August 2020
Notes
2
4
3
8d
6a
6b
IS
8
12
12		 Unrestricted
Funds
£'000
15,10◄
l,◄70
402
829
122
17,927
S02
17,442		 Restricted
Funds
£'000
31
578
609
9
9
600
(28)
572
(569)		 Freehold
Endowed
Total
Property
Funds
Funds
Funds
£'000
438
438
(438)
(438)
98
(340)
13,760
13,420
£'000
66
(66)
(23)
(89)
(89)
3,314
3,225
2020
£'000
15,104
1,470
402
829
153
578
18,536
502
17,955
18,457
79
22
(387)
(286)
(286)
18,627
18,341
17,944
(17)
22
(336)
(331)
471
140
605
745		 3
948
951