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2022-08-31-accounts

Contents Page
Governors, Officers and Advisers
AnnualReportoftheGovernors 3
Strategic Report 10
StatementofAccounting and Reporting Responsibilities 17
Independent Auditor's Report 18
Consolidated StatementofFinancial Activities 22
Consolidated and Colfe's School Balance Sheets 23
Consolidated StatementofCash Flows 24
NotestotheFinancial Statements
25-43


below.
I 2 3 4 5
MrM P E Pellereau (ChairofGovernors) ~~• • ~~ ~~• ~~ ~~• •~~
MrS M G Williams (Deputy ChairofGovernors) (until31 stAugust
2022))		 ~~•~~ ~~•~~ ~~•~~
MrsC Lennon (MasteroftheLeathersellers' Company (from 20th
July 2022))
MrG G Bacon (MasteroftheLeathersellers' Company (until 19th
July2022))
MrsJ A Bradley ~~• ~~ ~~•~~ ~~•~~
ProfABBrueggemann ~~•~~
MrsB W Canham ~~• •~~
MissS HCooke ~~•~~ ~~•~~
MrD G Coulson (Deputy ChairofGovernors) (from IstSeptember
2022))		 ~~•~~ ~~•~~
Mr~~J~~B Guyatt ~~• ~~ ~~•~~
DrNKjones ~~•~~
MrTNLister
 ~~•~~ ~~•~~
Mr~~JO~~Mafe ~~•~~
MrCDRamsey ~~•~~
Mr~~J~~PKRussell ~~•~~ ~~•~~
MrM G Williams (until31 stAugust 2022) ~~•~~

Yearto31 Aug Yearto31 Aug
2022 2021
UKenergyusekwh1
- electricity 948,811 900,715
-gas 2,204,737 2,610,441
·total 3,153,548 3,511,156
AssociatedGreenhousegas emissionstonnesCO2equivalent2
- electricity 200 208
-gas 397 478
·total 597 686
Intensity ratio emissions-tonnesperm3 floor area
- electricity 0.01 0.01
-gas 0.03 0.03
·total 0.04 o.os
Intensity ratio emissionstonnesperheadcount(student&staff FTE)
- electricity 0.13 0.14
-gas 0.26 0.33
•total 0.39 0.47

2 May 2023

Notes
INCOME AND EXPENDITURE
Income from :
Charitable activites
Schoolfees
2
Othereducational&anciliiaryactivities
4
Othertrading activities
Colfe'sLeisureServicesLtd
3
OtherIncome
Investments
8d
Grants and Donations
Total Income
Expenditure on :
Raising funds
Colfe'sLeisureServicesLtd
6a
Charitable activities
Provisionofeducation
6b
Totalexpenditure
Netincome/(expenditure) beforeinvestment
and actuarial gains / (losses)
Pensionschemeactuarialgains
IS
NetInvestment(losses)/gains
8
Netincome_I_(expenditure)
Transfersbetweenfunds
12
Netmovementinfunds
Fundbalancesat I September2021
FUND BALANCES at31August 2022
12		 Unrestricted
Funds
£'000
18.429
2,093
924
124
21,570
525
19,754
20,279
1,291
71
(85)
1,277
1,261
2,538
2,580
5,118		 Restricted
Funds
£'000
29
369		 Freehold
Property
Funds
£'000		 Endowed
Funds
£'000		 Total
Funds
2022
£'000
'18,429
2,093
924
153
369
21,968
525
20,480
21,005
963
71
(119)
915
915
19,756
20,671
Total
Funds
2021
cooo
16,904
1,173
403
288
133
488
19,389
425
18,215
18,640
749
23
643
1,415
1,415
18,341
19,756
398
10 6S0
650
(650)
(6S0)
1S8
(492)
12,907
12,415		 66
10 66
388
388
(1,036)
(648)
1,009
361		 (66)
(34)
(100)
(383)
(483)
3,260
2,777

COLFE'S SCHOOL BALANCE SHEETS AS AT 31 AUGUST 2022

Group Group Colfe's School
Notes 2022 202/ 2022 2021
£'000 £000 £'000 £000
FIXED ASSETS
Tangible Fixed Asset 7 16,597 16,938 16,594 16,933
Investment asset 8 3,667 3,786 3,909 4,077
20,264 20,724 20,503 21,010
CURRENT ASSES
Debtors 9 664 439 975 411
Cash at bank and in hand 4,770 3,883 4,154 3,554
5,434 4,322 5,129 3,965
CREDITORS: due within one year 10 (4,355) (4,005) (4,289) (3,934)
NET CURRENT ASSETS 1,079 317 840 31
TOTAL ASSETS LESS CURRENT LIABILITLES 21,343 21,041 21,343 21,041
LONG TERM LIABILITIES
Creditors due afer one year II (672) (I.285) (672) (1,285)
TOTAL NET ASSETS 20,671 19.756 20,671 19,756
Represented by :
ENDOWED FUNDS 12a 2,777 3,260 2,777 3,260
FREEHOLD PROPERTY FUND 12b 12,415 12,907 12,415 12,907
RESTRICTED FUNDS 12c 361 1,009 361 1,009
UNRESTRICTED FUNDS
General funds 5,118 2,580 5,118 2,580
TOTAL FUNDS 12 20,671 19,76 20,671 19,756

Approved by the Board of Governors of Colfe's School on l"l[,d,,_ ] fv/""'vk- wu and signed on Its behalf by:

Chair of Governors Matthew P E Pellereau

Deputy Chair of Governors Daniel Coulson

The notes on pages 2S to 43 form part of these accounts.

23

2022 2021
£'000 £000
Netcash flow from operating activities
Netcashprovidedbyoperatingactivities A 2,372 2.207
Cash flows from investing activities B (926) (633)
Cash flowsfromfinancing activities C (559) (324)
Changeincashandcash equivalents intheyear 887 1,250
Reconciliationofnetcash flowtomovementinnetfunds :
Cash and cash equivalentsatISeptember2022 l,883 2,633
Cash and cash equivalentsattheendoftheyear D 4,770 3,883
A Reconciliationofnetmovementsinfundstonetcash provided byoperating activities
Net movementinfunds(asper the statement offinancialactivities) 915 1,415
Depreciation·charge 1,420 1,250
(Increase)_I_DecreaseinDebtors (225) 32
IncreaseinCreditors 289 210
Loaninterest 78 99
Investment income (153) (133)
Net investment losses_I_(gains) 119 (643)
Pensionschemegains (71) (23)
Netcash providedbyoperating activities '2,372 2,207
B Cash flows from investing activities
Purchaseoftangiblefixedassets (1,079) (766)
Investment income 153 133
Netcash usedInInvesting activities (926) (633)
CCash flows from financing activities
Repaymentsof borrowing (559) (324)
Cashinflowsfromnewborrowing
Netcash usedinfinancing activities (559) (324)
D Cash and cash equivalents
Cashatbankandinhand 4,770 3,883

TheSchool'sfeeincomecomprised:
Grossfees
Less:Total bursaries, grantsandallowances		 Unrestricted Funds
2022
£'000
21,201
(2,772)
18,429
2021
£'000
19,550
(2,646)
/6,904

Income
Expenditure
Net investment (losses) /gains
Pensionschemegains
Net movementinfunds
Tangiblefixedassets
Investments
TotalFixedAssets
Current assets
Currentliabilities
Net Current Assets/(Liabilities)
TotalAssetslessCurrent
Liabilities
Longterm creditors
Total net assets		 School
£'000
21,433
(20,389)
(134)
71
981
2,212
3,133
5,345
16,258
(4,288)
11,970
17,315
(672)
16,643		 Foundation
£'000
585
(617)
(34)
(66)
14,382
774
15,156
933
(12,062)
(11,129)
4,027
4,027		 CLS
£'000
924
(973)
(49)
3
3
664
(426)
238
241
241		 Adjustments
£'000
(974)
974
49
49
(240)
(240)
(12,421)
12,421
(240)
(240)		 2022
Total
£'000
21,968
(21,005)
(119)
71
915
16,597
3,667
20,264
5,434
(4,355)
1,079
21,343
(672)
20,671		 2021
Total
£'000
19,389
(18,640)
643
23
1,415
16,938
3,786
20,724
4,322
(4,005)
317
21,041
(1,285)
19,756
4
OTHERINCOME
Other educational activities
ExaminationFees
Registrationfees
OutdoorPursuitsandEducationalvisits
OtherIncome
Other ancillary activities
CateringIncome
Wraparoundcare
Otherschooltrips
OtherIncome
Total Other Income
5
STAFFCOSTS
Total staff costs comprised:
Wagesandsalaries
Socialsecuritycosts
Pensioncontributions
Theaveragenumberofemployeesintheyearwas:
School
Subsidiary		 Unrestricted Funds
2022
202/
£'000
cooo
92
82
63
66
487
215
118
75
760
438
618
423
206
117
282
62
227
/33
1,333
735
2,093
1,173
2022
202/
£'000
£'000
10,562
/0,/23
1,138
1,062
1,744
1,716
13,444
12,901
298
290
58
52
356
342		 Unrestricted Funds
2022
202/
£'000
cooo
92
82
63
66
487
215
118
75
760
438
618
423
206
117
282
62
227
/33
1,333
735
2,093
1,173
2022
202/
£'000
£'000
10,562
/0,/23
1,138
1,062
1,744
1,716
13,444
12,901
298
290
58
52
356
342		 Unrestricted Funds
2022
202/
£'000
cooo
92
82
63
66
487
215
118
75
760
438
618
423
206
117
282
62
227
/33
1,333
735
2,093
1,173
2022
202/
£'000
£'000
10,562
/0,/23
1,138
1,062
1,744
1,716
13,444
12,901
298
290
58
52
356
342
438
423
117
62
/33
735
1,173
202/
£'000
/0,/23
1,062
1,716
12,901
290
52
342
Thenumberofhigherpaidemployeeswas:
Taxableemolumentsband:
£60,00I - £70,000
£70,00I - £80,000
£80,00I - £90,000
£90,001-£I00,000
£100,001- £110,000
£220,00I - £230,000
£230,00I - £240,000
Thenumberwith retirementbenefitsaccruingin
•DefinedBenefitSchemes		 2022
No.
19
4
2
2
202I
No.
16
6
I
I
2
I
24
23

(a) Costsofraising funds
Trading costs ofthesubsidiary
(b) Charitable activities
Teaching
Otheractivities
Buildingsdepreciation
Premises
Support costsofschooling
Governancecost
School's operating costs
Awards and prizes
Totalexpenditure		 Staff
Other
Depreciation
costs
costs
£'000
£'000
£'000
453
70
2
10,597
1,186
346
2,078
716
963
2,233
356
1.431
528
35
12,991
6,060
1,418
11
12,991
6,071
1,418
13,444
6,141
1,420
2022
202/
Total
Total
£'000
£'000
525
425
12,129
11,646
2,078
1,/93
716
622
3,552
2,808
1,959
I,911
35
25
20,469
18,205
11
/0
20,480
18,215
21,005
18,640

Cost
I September2021
Transfers
Additions
Disposals
3 I August 2022
Depreciation
I September2021
Transfers
Charge for year
Disposals
3 IAugust2022
Netbookvalues
3IAugust 2022
3 I August2021		 Freehold
Assets
Landand
under
Motor
Furniture&
School
Furniture&
Buildings
Construction
Vehicles
Equipment
Total
Equipment
£'000
£'000
£'000
£'000
£'000
£'000
27,381
378
71
4,870
32,700
154
327
(327)
159
49
37
834
1,079
(20)
(689)
(709)
(18)
27,867
100
88
5,015
33,070
136
12,100
116
68
3,483
15,767
149
116
(116)
716
13
689
1,418
2
(20)
(689)
(709)
(18)
12,932
61
3,483
16,476
133
14,935
100
27
1,532
16,594
3
/5,28/
262
3
1,387
16,933
5
Subsidiary
Total
£'000
154
(18)
136
149
2
(18)
133
3
5
Group
Total
£'000
32,854
1,079
(727)
33,206
15,916
1,420
(727)
16,609
16,597
16,938

Market value:
Listedinvestments
Investment Property
Grouptotal
Atfair value
InvestmentinSubsidiary
Schooltotal
GroupunreaJised gainsoninvestmentsincluded above:
Sa
Sb
Sc
2022
£!000
2,792
875
3,667
242
3,909
Sa ListedInvestments
Sb
Sc
Marketvalueat I September2021
Netunrealisedgain
Marketvalueat 3 I August2022
Historic cost at31August2022
Alllistedinvestments areheldinunit trusts or common investmentfunds.
Investment Property
Marketvalueat I September2021
UnrealisedGainoninvestment
Marketvalueat 3 IAugust2022
Historic cost at 3 I August2022
InvestmentinSubsidiary
Fairvalue
At I September2021
Gainforthe year
At31August2022		 202I
£000
2,911
875
3,786
291
4,077
£
1000
2,911
(119)
2,792
1,704
£
1000
875
875
413
£'000
291
(49)
242
Quoted investments
Bankdeposits
Property Investment
Total 2022
_Totol202I _		 2022
2021
Unrestricted
Restricted
Funds
Funds
Total
Total
£'000
£000
94
29
123
110
12
12
5
18
18
18
124
29
153
133
106
27
133

Amounts due from subsidiary company
School fees
Stock
Trade debtors
Sundry debtors
Prepayments&Accrued Income		 Group
2022
£'000
32
4
32
124
472
664
2021
£000
76
13
75
275
439
Colfe's School
2022
£'000
358
32
124
461
975
202I
£000
76
75
260
411
Bankloan
Trade creditors
Taxation and social security
Othercreditors and accruals
PupilDeposits
Pension deficit recovery payments(note15)
Fees receivedinadvance		 Group
2022
£'000
637
607
504
917
1,345
8
337
4,355
2021
£000
637
531
486
728
/,292
25
306
4,005
Colfe's School
2022
£'000
637
602
486
874
1,345
8
337
4,289
202/
£000
637
528
475
671
1,292
25
306
3,934

Pension deficit recovery payments(note15)
Bankloan1-2years
Bankloan 2 - 5 years		 Group
2022
£'000
10
662
672
2021
£000
64
637
584
1,285
Colfe's School
2022
£'000
10
662
672
202/
£000
64
637
584
1,285

Endowmentfunds
FreeholdPropertyfund
Restrictedfunds
Unrestrictedfunds
Colfe's School
Colfe's Leisure Services Limited
Group
Endowmentfunds
FreeholdPropertyfund
Restrictedfunds
Unrestrictedfunds
Coife'sSchool
Colfe'sLeisureServicesLimited
Group		 Fixed
Assets
£'000
2,575
12,415
1,604
16,594
3
16,597
Fixed
Assets
£'000
2,641
12.907
1,385
16,933
5
16,938		 InvestmentsNetCurrent
Assets/
(Liabilities)
£'000
£'000
191
11
7
354
3,711
475
3,909
840
(242)
239
3,667
1,079
Investments
NetCurrent
Assets
£'000
£'000
6/9
20/
808
3.257
(777)
4,077
3/
(291)
286
3,786
3/7		 LongTerm
Liabilities
£'000
(672)
(672)
(672)
Long_Term
_Liabilities
£'000
(l.285)
(1,285)
(1,285)
Fund
Balance
2022
£'000
2,777
12,415
361
5,118
20,671
20,671
Fund
Balances
2021
£'000
3,260
12,907
1,009
2.580
19,756
19,756

Endowments:
Property
Prizes andotherbequest funds
Total
Propeny
Prizesandotherbequestfunds
Total		 Balanceat
Expenditure
Investment
ISeptember
Gains/(losses)
2021
£'000
£'000
£'000
2,641
(66)
619
(34)
3,260
(66)
(34)
I_st_September
2020
£000
£000
£000
2,707
(66)
518
IOI
3,225
(66)
IOI
Funds
Transfer
(383)
(383)
£000
Balanceat
31August
2022
£'000
2,575
202
2,777
31stAugust
2021
£000
2,641
619
3,260

Freehold property fund
Freehold property fund		 Balanceat
ISeptember
2021
£'000
12,907
2020
£000
13,420
Income
£'000
Expenditure
£'000
(650)
(556)
Fund
Transfers
£'000
158
43
Balanceat
31August
2022
£'000
12,415
202/
£000
12,907

GranesandDonadons
Prizesandother bequestfunds
GrantsandDonations
Prizesandotherbequestfunds		 Balanceat
Income Expenditure
Fund
ISeptember
Transfers
2021
£'000
£'000
£'000
£'000
18
369
(10)
(359)
991
29
(677)
1,009
398
(10)
(1,036)
2020
£'000
£'000
£'000
£'000
18
488
(10)
(478)
933
27
951
515
(10)
(478)
Investment
Balance at
Gains/(Losses)
31August
2022
£'000
£'000
18
343
0
361
202/
£'000
£'000
18
31
99I
31
1,009

Group Colfe's School
2022 202/ 2022 202/
£'000 £'000 £'000 £'000
Amountsfallingdue:
Withinone year 22 43 22 43
Duewithin2 - 5 years 41 43 41 43
Dueinmore than 5 years 10 /0
63 96 63 96

Notes
INCOMEANDEXPENDITURE
Incomefrom:
Charitableactivites
Schoolfees
2
Other educational&anciliiaryactivities
4
Othertradingactivities
Colfe's Leisure ServicesLtd
3
Other Income
Investments
8d
Donations&Legacies(restricted)
TotalIncome
Expenditureon:
Raising funds
Colfe's Leisure ServicesLtd
6a
Charitableactivities
Provision of education
6b
Totalexpenditure
Netincome/(expenditure)beforeinvestment
andactuarialgains / (losses)
Pension scheme actuarialgains/ (losses)
15
NetInvestmentgains
8
Netincome/(expenditure)
Transfers betweenfunds
12
Netmovementin funds
FundBalancebrought forwardatI September 2019
aspreviously stated
FUNDBALANCESat31August2020
12		 Unrestricted
Restricted
Freehold
Endowed
Total
Funds
Funds
Property
Funds
Funds
Funds
2021
£'000
£'000
£'000
£'000
£'000
16,904
16,904
1,173
1,173
403
403
288
288
106
27
133
488
488
18,874
SIS
19,389
425
425
17,583
10
556
66
18,215
18,008
10
556
66
18,640
866
505
(556)
(66)
749
23
23
511
31
IOI
643
1,400
536
(556)
35
1,415
435
(478)
43
1,835
58
(513)
35
1,415
745
951
13,420
3,225
18,341
2,580
1,009
12,907
3,260
19,756