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2021-07-31-accounts

Page
Strategic Report 1-6
Report ofthe Trustees 7-9
Consolidated
Statement		 ofFinancial Activities 10
Balance Sheets
Consolidated
Cash Flow		 Statement 12
Accounting
Policies		 13 —15
Notes to the Consolidated Financial Statements 16-31
Directors and Officers 32
Reference and Administration 33
Report ofthe Auditor 34-35

CHIGWELL SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
(Including an Income and expenditure account)
For the year ended 31July 2021
Unrestricted Restricted Endowment Total Total
Notes Funds Funds Funds 2021 2020
5'000 5'000 5'000 P000 f.'000
INCOME AND ENDOWMENTS
Income fram charitable achvlhesi
School fees recetvable 15,342 15,342 14,523
Other educational
income		 114 114 350
Ancigaiy trading income 19 19 18
Income from other sourcen
Trading subsidiary
turnover		 186 186 118
Rental income 26 26 28
Misceganeousincome 125 125 28
Investments:
Investment
income		 10 3 13 33
Voluntary
sources:
Grants, donations
and legacies		 228 237 465
Totalincome 16,050 9 3 16,062 15,563
EXPENDITURE
Expenditure
on raising		 funds:
Ancillary
trading expenditure		 14 14 7
Trading subsidiary
expenditure		 69 69 55
Total expenditure
on raising funds		 83 83 62
Expenditure
on charitable		 activities:
Education snd grant-making 7 14,143 3 85 14,231 15,194
Total expenditure 14,226 3 85 14314 15,256
Net income/(expenditure) fram operations
before investment
gains		 snd transfers 1,824 (82) 1,748 307
Unreslised
gains on inveslments		 14 16
Transfers bctwccn funds ll (2)
Net income/(expenditure) for the year 1,823 9 (68) 1,764 307
Movement
in pension scheme
funding
deficit		 42 42 38
Net movemeot
in funds		 for the year 1,865 (68) 1,806 345
Fund balances brought
forward
at I August 2020 20,732 47 3,786 24,565 24,220
Fund bahnees carried forward
at31July 2021 20 22,597 56 3,718 26,371 24,565
All activities denve from continuing operations.

Grou Chari
Notes 2021 2020 2021 2020
E000 6'000 H000 5'000
Fixed assets
School buildings and equipment 13 23,093 22,055 23,893 22,055
lnvcstmcnts 14 110 94 111 95
24,003 22,149 24,004 22, 150
Current
assets
Stocks 15 21 21 20 19
Debtors 16 96 285 153 338
Cash and deposits 4,665 4,569 4,592 4,503
4,782 4,875 4,765 4,860
Current liabilities
Creditors payablc ivithin onc year 17 (2,017) (2,038) (2,001) (2,024)
Net current
amets		 2,765 2 837 2,764 2,836
Total assets less current Babigties 26,768 24,986 26,768 24,986
Long-term
liabilities
Creditors payable ager one year 19 (235) (217) (235) (217)
Pension scheme funding delicit 9 (162) (204) (162) (204)
Net llssets 26,371 24,565 26,371 24,565
Represented
by:
Unrestricted
funds
Designated
funds		 20 1,487 2,579 1.407 2,579
Gcncral School funds 20 21,272 18,357 21,272 18,357
Pension reserve 20 (162) (204) (162) (204)
27,597 20,732 22,597 20,732
Restricted funds 20 56 47 56 47
Endowment
funds		 20 3,718 3,786 3,718 3,786
Total funds 26,371 24,565 26,371 24,565
Ststemeat ofCharl
net income:
Net income ofthe charit y for the year 1,806 345

Notes 2021 2021 2020 2020
H000 f'000 f'000 f000
Net incoming
funds from operations		 1,748 307
Depreciation
charges		 13 198 167
Loss on disposal ofland and buildings 13 78
Decrease in stocks 15 8
Decrease/(Increase)
in debtors		 16 189 (117)
(Decrease)/Increase
in creditors		 17dc 19 (226) 72
Movcmcnts
on advance fccs		 18 219 (84)
Movcmcnts
on admission
deposits		 lldtl9 4 5
Net cash inflow from operations 2,132 436
Cash tlotv from investing
activities
School bufldingv
and equipment		 13 (2,036) (200)
Net cash used in investing
activities		 (2,036) (200)
lacrease in cosh in the year 96 236
Analysis ofchanges
in net funds:
Cash at bank and in hand st 31 July 2021 4,665 4,569
Cash at bank and in hand at I August 2020 (4,569) (4,333)
Net cash inflow 96 236
Reconciliation ofnet cash ilaw to movement in net funds:
Increase in cath in the year 96 236
Movement
in net funds in the year		 96 236
Nct surplus st I August 2020 4,569 4,333
Net surplus
at 31July 2021		 4,665 4,569
Cash at bank and in hand 4,665 4,569

The following
accounting policies have been applied consistently
in dealing
with items which are considered
material		 in relation to the in relation to the
School's financial statements.
a) Basis of preparation
The financial
statements
have been prepared
under the Companies
Act 2006 and in accordance
with the Statement of		 Recommended
Practice for Charities (SGRP 2015)(Second Edition effkctive
I January 2019)and Financial Reportiog
Standard
102.
Chigwefi School meets the definition ofa public benefit entity under FRS 102. The financial
statemeots
are draivn
up		 on the historica
cost basis cfaccounting,
as modified
by the revaluation
of investments
heid as fixed assets, which are included
at market
value,
and
those land and buildmgs
which werc rcvalucd
in 1939(note 13).
b) Preparation
ofthe accounts on a going concern basis
Having reviewed
the funding
facilities available
to the School together with the expected ongoing
demand
for places		 and the School's
future
projected
cosh flows,
thc Governors
have
a reasonable
expectation
that
thc School has adcquatc
rcsourccs		 to continue
its
activities
for the foreseeable
future.
Their
review
included
the
potentml
financia
impact
of the
coronavirus
pandemic
and the
possibility of future
local lockdowns,
In lig'ht of thc latest
available
financial
forecasts,
stable
first term outcomes		 For the 2021-22
academic year, the extensive
compensatory
measures
already taken and the advanced
plans
in place to mitigate
further		 interruption,
no
material uncertsmties
were identitied
in rhis respect which would compromise
ongoing operations,
Accordingly,
the Governors
continue to adopt thc going conccm basis in preparing
thc finanmal
statcmcnts
as outlined		 in thc Statement
ofAccounting
and Reporting
Responsibilities
on page 8.
c) Group financlsl statements
Thc financial
statcmcnts
present
thc Consolidated
Statement
of Fmancial
Activities
(SoFA), thc consolidated
and		 charity
Balance
Sheets
and
the Consolidated
Cash Floiv Statement
comprising
the consolidation
of the charity
with
its ivholly
owned
subsidiary
Chigweg
Mitre Enterprises
Limited.
The results ofthe subsidiary
are consolidated
on a line by line basis.
No separate		 SoPA has been
presented
for the charity alone as permitted
by section 400ofthe Companiev
Act 2006. The net income ofthe charity		 is disclosed
in
note 2.
d) Critical accounting
estimates
and judgements
General
In preparing
the consolidated
financial
statements,
management
has made
judgements,
estimates
and
assumptions		 that affect the
application
ofthe School's accountmg
pohcies and the reported
assets, liabilities,
income and expenditure
and the disclosures
made in
the cooiolidated
finaocial statementi.
Estimates
and judgements
are continuafly
evaluated
and are based on historical		 experience
and
other factors, includmg
expectations offuture events that are believed to be reasonable
under the circumstances.
Pioiri snd eqsipmeni
Management
estimates the useful lives ofplant and equipment
based on judgement
and experience.
Where management		 identifies
that
actual useful lives differ materially
from the estimates
used to calculate depreciation,
that charge is adjusted prospectively.
Due to the
significance ofplant and equipment
investment
to the company,
variations
beuveen
actual and estimated
useful economic
lives could
impact on operating
results both positively
and ncgativcly,
although
historically
no changes have bccn rcquircd.
Ssd debt provision
The School evaluates
the need for a bad debt pmvision
at each reporting
date.
The School's accountmg
policy is to		 provide
against
specific debts at thc year cnd.
e) Income
Fccsrcccivablc and chargcv for scrviccs arc aceountcd
for in thc period in which the scrvicc is provided.
Fees rcccivablc are stated
afler deducting
afloivances,
bursaries,
scholarships
and other remissions
granted
by the School; these ere recognised		 in fufl in the year
in which they arc receivable.
Donations subject tospecific wishes ofthc donors arc carried to thc rclcvant restnctcd funds.
Income from anmflary
trading
activities
is recognised
as earned.
Ancillary
trading
turnover
includes
the value offacilities pmvided
free ofcharge or at a reduced rate to various
charitable
and local community
organisstions
during
the year. calculated		 on the basis of
the foregone standard
charges.
' Government
revenue
grants are recognised
on a systemanc
basis over the periods in ivhich the School recognises
the		 related costs for
which the grant is intended to compensate.
~ lnvcstmcnt
income is recognised
on s rcceivablc basis.

Results ofthe chariti 2021
8'000		 2020
1'000
The financial
activities
shown		 in the SoPA represent those cf the charity and its wholly owned subsidiary company, Chigwell Mitre
Enterprises
Limited.
A summary ofthe financial		 activitie~ undertaken by t'he charity alone is set out below:
Total income 15,973 15,487
Total expenditure
on charitable		 activities (14,211) (15,174)
Expenditure
on raising funds		 (14) (7)
Investment
gains		 16 I
Movcmcnt ia pension scheme fimding deficit 42 38
Net income 1,806 345
Total funds brought
forward		 24,565 24,220
Total funds serried forward 26,371 24,565
Represented
by:
Unrestricted
income funds		 22,597 20,733
Restricted income funds 56 46
Endowment
funds		 3.718 3,786
26,371 24,565
Income from charitable
activities
a) School fees receivable
Gross School fees 17,180 16,266
Less: Bursaries, scholarships and other remismons and discounts (1,838) (1,743)
Net fees 15,342 14,523
In total, bursaries,
scholarships		 and other remissions were awarded to 230 pupils (2020:230). The value of means-tested bursaries
totalled 5968,698 (2020i f839,585) and provided assistance to 54 pupils (2020: 50), of which 20 (2020: 23) benefited from s full
remission offees.
b) Other educational
income
School trips aad other pupil activities 230
Entrance snd registration
fees		 114 120
114 350

2021 2020
H000 5'000

Thc wholly
owned		 Thc wholly
owned		 trading
subsidiary,		 trading
subsidiary,		 trading
subsidiary,		 Chigwcg Mitre Enterprises Limited, hires out thc School's sports and
other		 fscilitics. A
summary ofthe trading results for the year is shown beloiv:
Turnover -external 186 118
Cost ofsales -cxtcrnal (0)
Gross pmfit 178 100
Administration costs —Chigweg School (63) (48)
-cxtcmal (611) (47)
Operating
profit		 55 14
Interest receivable and similar income 1
Other mcome 25
Profit for the year 55 40
Donation
under		 Gift Aid to Chtgweg School (55) (40)
Net profit
b) Rental income from the hire ofland and buildings
Staffaccommodation 25 25
Music peripatetics -mom hire I 3
26 28
c) MisceBaneous Income
Business interruption Insurance 100
Intcrcst on late and unpaid fccs 6 3
Extra-curricular clubs 18 24
Sundry I I
125 28
Unrestricted Unrestricted Unrestricted Restricted Endowment Total Total
Funds Funds Funds 2021 2020
8'000 8'000 8'000 G000 F000
5 Investment
tacoma
Dividends
from listed invcstmcnts		 3 3
Bank deposit interest receivable 10 10 30
10 13 33
6 Grants, donations
and legacies
Government
grants
Job Retention
Scheme (JRS)grant income		 221 221 395
Retail, Hospitality
and Leisure grant income		 25
Total government
grants		 221 221 420
Donations and legacies
Scholarship
and prize funds		 I
Bursary Fund 36
Friends ofChigweg I
Charity fundraising
cvcnts		 7
Total donations
and legacies		 16 45
Total grants, donations
and legacies		 228 237 465
Government
grants
Certain members ofSchool staff were furloughed betiveen September 2020 and February 2021 under the Government's Job Retention
Schcmc (JRS). While
claims		 under the JRS, amounting to 1220,859 (2020: 1395,115), werc limited to 80% of payrog costs in
accordance
with the conditions		 ofthe scheme, ag furloughed staff received full pay snd benefits during this period.

Analysis ofexpenditure
Staffcosts Depreciation Other Total Total
(note S) (note 13) costs 2021 2020
5'000 HOOD H000 DODO f'000
Costs afraising funds
Ancillary trading expcnditurc 14 14 7
Trading sabsidiary
expenditure		 69 69 55
Total costs ofraising funds 83 83 62
Charitable
expenditure
Edricarien and grunt wcsiugr
Teaching 7,070 8 612 7,690 7,863
Welfare 474 11 1,473 1,958 1,749
Premises repair and maintenance 466 125 1,488 2,079 2,464
Finance costs 41 41 37
Grants, awards
and prizes		 2 2 1
Support costs and governance 1,492 54 915 2,461 3,080
Total charitable
expenditure		 9,502 198 4,531 14,231 15,194
Total expenditure 9,502 198 4,614 14,314 15,256

amounted
tof4sH0 (2020		 :f648) .
Analysis ofstaff casts
Wages and salaries 7,352 7,233
Social Security costs 753 727
Pension contributions 1,397 1,354
9,5112 9,314
Aggregate
employee benefits ofkey management		 personnel 374 341
The average number ofemployees in the year was 195(2020: 196),represented as folloivs:
2021 202D
Number Number
Teaching 118 119
Welfare 2 2
Premises 31 31
Support and administration 44 44
195 196
The number ofemployees whose emoluments exceeded 560,000were:
E60,DDO - 570,000
570,DOO - 580,000
180,000 - 190,000
f100,000 - Et10,000
6160,000 - E170,000
E170,000 - E180,000

The present
value is calculated		 The present
value is calculated		 using thc discount thc discount rate, rate, which which is rccogniscd is rccogniscd as a finance cost, finance cost, dctailcd in thc following thc following Disclonim Disclonim
Report
31Julv 31July 31July
2021 2020 2019
8'000 f'000 f'000
Picscnt value ofprovision 162 204 242
Assumptions:
Rate ofdiscount
'Y per annum		 0.57 0.60 1.00
The discount
rates shown		 above are the equivalent single discount rates ivhich, when used to discount the future recovery phn
contributions
due, would
give		 the same results as using a full AA corporate bond yield curve to discount the same recovery plan
contributioni.
31July 2020 3!July 2019
6'000 DODD f.'000 6'000
Reconciliation ofopening and closing pmvisions:
Provision at start ofyear 2D4 242
Unwinding
oftbe discount factor (interest expense)
Re-measurements
-impacts		 ofany change in assumptions
Re-measurements
-amendments		 to the contribunon schedule
Income and expenditure
impact		 ofFRS 102
Deficit contribution
paid		 (44) (42)
Net income and expenditure impact (42) (38)
Prevision at end ofyear 162 204
2021 2020
HDDD f'DDD
10 Movement
in total funds for the period
This is stated cher charging;
Operating
lease rentals - hire of		 equipment 33 80
Depreciation ofequipment —oivned assets 198 167
Auditors'
remuneration
for		 audit 20 19
Estate property
repairs (see		 below) 9 135

11 Transfers behveen funds funds
School Designated Restricted Endoivment
Fund Funds Puliils Punds
f'000 DOOO 6'000 COOO
CME Disbursement Fund: Gilt Aid (55) 55
CME Disbursement Fund: Building improvement projects 158 (158)
Means-tested
bursaries		 969 (969)
Bursary Fund replenishment 11 (11)
Budding
Fund re-imbursement		 9 (9)
Expendable cndowmcnt rclcased (3)
Notional
interest an		 monica held in School bank account I
1,091 (1,092) 3 (2)
Further information regarding transfers benveen funds is contained in note 20.
12 Taxation
Thc parent company, Chigwcll School, n a registered charity and is cxcmpt from tax on income and gains falling within section 505of
the Taxes Act 1988 or section 252 ofthe Taxation of Chargeable Gains Act 1992,to the extent that these are applied to its charitable
ob)acts.
13 Tangible
lixed amets
Crau and Charitv
Freehold Freehold
endowment other Projects in
land operating Mnd the course of Plant ih
&buildings &buildings development macbineD Total
f'000 DOOO f'000 DOOO DOOO
Cost
At I August 2020 14,651 7,411 346 705 23,113
Additions 1,979 57 2,036
Complctcd projects 1,137 (1,137)
At 31July 2021 14,651 8,548 1,188 762 25,149
Dspree&tie n
At I August 2020 340 121 597 1,058
Charge for the year 85 29 84 198
At 31July 2021 425 150 681 1,256
Net book value
At 31July 2021 14,226 8,398 1,188 81 23,893
At 31July 2020 14,311 7,290 346 108 22,055

I) The tradt ng
subsidiary
does not otvn any fixed ass		 ets.
Grou Cheri
2021 2020 2021 2020
I'000 EOOD HOOD I'000
14 Investments
s) Quoted investments
Market value at I August 2020 94 94 94 94
Unrealised gains 16 16
Market value st 31 July 2021 110 94 110 94
Historical cost at 31 July 2021 37 37 37 37
Wholly owned subsidiary subsidiary
The School owns the whole ofthe issued share capital and undertaking ofChigwefi Mitre Bntetprtses Limited, a company incorporated
in the United Kingdom.
2021 2020
8'000 PDDD
The assets and liabilities ofthe subsidiary were:
Current assets 91 68
Current
liabilities		 (90) (67]
Total net assets I I
Aggregate
share		 capttal and rcscrvcs
Crau Chari
2021 2020 2021 2020
8'000 EDDO HOOD DODO
15 Stock
Catering
supplies		 20 19 20 19
Old Chigwefiian Club Bsr I 2
21 21 20 19
16 Debtors
Fccdebtors 47 79 47 79
Trade debtors I
Sundry debtors 5 7 25 28
Prepayments and accrued income 44 198 81 231
96 2lt5 153 338

Grou Chari
2021 2020 2021 2020
P000 6000 0'000 f,'000
17 Creditors falling due tvithin one year
Trade crcdttors I
Admission deposits 15 18 15 18
Supplier creditors 187 345 107 345
Taxation and Social Security 197 194 197 194
Other creditors 201 198 201 198
Accruals and prepaid income 188 261 172 248
788 1,017 772 1,003
Advance fees (note 18) 1,229 1,021 1,729 1,021
2,017 2,038 2,001 2,024
parents
may pay the School tuition		 parents
may pay the School tuition		 fees in advance, either in instalments fees in advance, either in instalments fees in advance, either in instalments fees in advance, either in instalments under the School's formal loan scheme, or in s lump sum.
In		 under the School's formal loan scheme, or in s lump sum.
In		 under the School's formal loan scheme, or in s lump sum.
In		 under the School's formal loan scheme, or in s lump sum.
In		 under the School's formal loan scheme, or in s lump sum.
In
respect oflump sum advances, the longer-term monies are returnable on receipt of one term's notice. Assuming the pupils concerned
remain
in the School, advance		 fees will be applied av fofiowc
Within one year 1,229 1,021 1,229 1,021
Between one snd five years 77 66 77 66
I306 1 087 1 306 I 087
19 Creditors
falling due after more		 than one year
Advance fees (note 18) 77 66 77 66
Admission
deposits		 158 151 158 151
235 217 235 217

a) Analysis afunre str lcted fund movements
Expenditure
Balance at dr movement Balance at
IAugust in funding Transfers in Transfers out 31July
2020 Income deficit (note 11) (sate 11) 2021
0'000 D000 0'000 0'000 8'000 5'000
Designated funds
Bursary Fund 2,016 (11) (969) 1,036
CMB Disburscmcnt Fund 245 55 (150) 142
Building Maintenance Fund 318 (9) 309
2,579 44 (1,136) 1,407
General funds
Schoolpund 10,357 16,050 (14,226) 1,136 (45) 21,272
Pension reserve (204) 42 (162)
20,732 1,100 (1,101) 22,597

b) Analysis ofrestricted fund b) Analysis ofrestricted fund b) Analysis ofrestricted fund movements
Balance at Balance at
I August Transfers in Transfers out 31July
2020 Income Expenditure (note 11) (note 11) 2021
8'000 8'000 8'000 8'000 6'000 8'000
Scholarship and prize funds
General Poze Fund 4 (3) 5
Tim Pruss Memorial Fund 6 6
Bursary Fund 37 45
47 9 (3) 3 56
Scholarship and prize funds Dsscrlprioa, nsrnrs
a ad purposes		 ofrite furr d
Prize Fund Toprovide academic and other prizes For achievement
Tim Pruss Memorial Fund To provide a suitable memorial tn remembrance ofa former pupil
Bursary Fund To compliment tha School's existing designated Bursary Fund (note 20 a)
c) Analysis ofendotvment fuad movements
Balance at Balance st
I August Net transfers Investment 31July
2020 income Expenditure (aote 11) gains 2021
6'000 8'000 6'000 DOOO 8'000 6'000
Expendable endowments
General Pnze Fund 94 3 (3) 16 110
Permanent endotvments
Frcchold land and buildings 3,692 (85) I 3,608
Total endowments 3,786 3 16 3,718

The net assets are held for the The net assets are held for the The net assets are held for the various funds as fofloivs: various funds as fofloivs: Net Curcent
Fixed Inter-fund Assets/ Long Term
assets loan Investments (Llabgitles) Liabilities Total
HODR EOOD F000 8'000 8'DOD HOOD
Unrestricted funds:
Designated funds 1,487 1,487
General
fund		 9,546 10,948 1,013 (235) 21,272
Pension reserve (162) (162)
9,546 10,948 2,500 (397) 22,597
Restricted funds:
Scholarship and prize funds 56 56
56
Kndoivment funds:
Expendable endowments 110 Ilit
Permanent endowments 14,347 (10,948) 209 3,608
14,347 (10,948) 110 209 3,718
Total net assets 23,893 110 2,765 (397) 26,371

a) Financial commitments under non-cancefiable under non-cancefiable operating leases. operating leases. Equipment Equipment Equipment Equipment
2021 2020
POOD f.'000
Due under one year 29 30
Due between two and five yeats 25 54
54 84
b) Capital commitments, authorised and contracted, in respect ofconstruction of n new Sports Centre ond the refurbishment of the
ChapeL

a) Consolidated
Statemeat		 a) Consolidated
Statemeat		 of Financial Activities Financial Activities
Unrestricted Restricted Endowment Total
Notes Funds Funds Funds 2020
8'000 U000 C000 8'000
INCOME AND ENDOTVMENTS
Income from charitable activities:
School fees receivable 14,523 14,523
Other educational
income		 350 350
Ancillary
tradmg income		 18 18
Income from other trading activities:
Trading subsidiary
turnover		 118 118
Rental income 28 28
Misccllancous
income		 28 28
Investments:
Investment
income		 24 (b) 29
Voluntary
sources:
Donations
and lcgscics		 24 (c) 428 37 465
Total Income 15,522 38 3 15,563
EXPENDITURE
Expenditure
on raising		 funds:
Ancillmy
trading expenditure		 24 (EI) 7 7
Trading subsidiary
expenditure		 24 (&I) 55 55
Total expenditure
on raising funds		 62 62
Expenditure
on charitable		 activities:
Education
and pant making		 24(6) 15,108 85 15,194
Tatalexpenditure 15,170 85 15,256
Net Income/(expenditure) from operations
before investment
gains		 and transfers 352 37 (82) 307
Uorealived
gaim on investments
Transfers
between
funds		 24 (e) 3 (2)
Net income and capital 351 40 (84) 307
Movement
in pension scheme funding		 deficit 38 38
Net movement
In funds		 for the year 389 40 (84) 345
Fund balances brought
forward		 at I Aug 2019 25 20,343 3,870 24,220
Fund balances carried forward at31Jul 2020 20,732 47 3,786 24,565
Unrestricted Restricted Endovrment Total
Fund Funds Funds 2020
OOOO 5'000 OOOO OOOO
b) Investment
income
Dividends
from listed investments		 3
Bank deposit interest receivable 29 30
29 33
c)Grants, donations
acd legacies
Government
grants
Job Retention
Scheme (JRS)grmt income		 395 395
Retail, Hospitality
and Leisure grant income		 25 25
Total government
grants		 420 420
Donations snd legacies
Scholarship
and prize funds		 I I
Bursary Fund 36 36
Friends ofChigweg I
Charity fundraising
events		 7
Total donations
and legacies		 8 37 45
Total grants, doaations
and legacies		 428 37 465
d) Analysis ofexpenditure Other Total
Staff costs Depreciation casts 2020
6'000 5'000 OOOO 5'000
Costs ofraising funds
Ancillary
trading cxpcndintrc		 7 7
Trading subsidiary
cxpcnditurc		 55 55
Total casts ofraising funds 62 62
Charitable
expenditure
Edocedoo aod grant makings
Teaching 6,965 8 890 7,863
Welfare 430 4 1,315 1,749
Premises repair and maintenance 469 98 1,897 2,464
Finance costs 37 37
Grants, awards
snd prizes		 I I
Support casts and govcmancc 1,450 57 1,573 3,080
Total charitable
expenditure		 9,314 167 5,713 15,194
Total expenditure 9,314 167 5,775 15,256
e) Transfers between funds
School Designated Restricted Endowment
Fund Funds Fllltds Funds
GOOO OOOO HOOO 0'000
CME Disbursement
Fund: Gilt Aid		 (40) 40
CME Dubursemcnt
Fund: Buildmg impmvcmcnt		 projects 6 (6)
Means-tested
bursaries		 840 (040)
Bursary Fund replenishment (1,185) 1,185
Building Fund reimbursement 135 (135)
Expendable
endowment
released		 (3)
Notional
interest on monica held in School bank		 account I
(245) 244 (2)

a) Analysis afunrestricted afunrestricted fund movements
Expenditure
Balance at &movement Balance at
I August in funding 31July
2019 Income deficit Transfers in Transfers out 2020
f'ODO f'000 0'000 6'000 f'000 BOOO
Designated funds
Bursary Fund 1,671 1,185 (840) 2,016
CME Disbursement Fund 211 40 (6) 245
Building Fund 453 (135) 318
2,335 1,225 (981) 2,579
Generalfunds
School Fund 18,250 15,522 (15,170) 981 (1,226) 18,357
Pension reserve (242) 38 (204)
20,343 15,522 (15,132) 2,206 (2,207) 20,732
b) Analysis ofrestricted fund movements
Balance at Balance at
I August 31July
2D19 Income Expenditure Transfers in Transfers out 2020
f 6 5 f f 0
Scholarship and prize funds
General Prize Fund 4
Tim Pruss Memorial Fund 6
Bursary Fund 37 37
38 47
c) Analysis ofendowment fund movements
Balance at Income & Balance at
I August exceptional Investment 31July
2019 surplus Expenditure Net transfers gains/(lasses) 2020
f'000 f'000 6'000 HOOD 6'000 DODO
Expendable endowments
General Prize Fund 94 (3)
Permanent endowments
Assets held in trust 3,776 (85) 3.692
3,870 (85) (2) 3,786

Net Current
Fixed Inter-lund Assets/ Long Term
amets loan Investments (Liabilities) LiabiTities Total
6'000 H000 6'000 8'000 6'000 5'000
Unrestricted funds:
Designated funds 2,579 2,579
General fund 7,623 10,948 4 (217) I8350
Pension reserve (204) (204)
7,623 10,948 2,583 421) 20,733
Restricted funds:
Schoismhip end prize funds 46 46
46 46
Endowment funds:
Expendable endowments 94 94
Permanent endowments 14,432 (10,940) 208 3,692
14,432 (10,948) 94 208 3,786
Total net assets 22,055 94 2,837 (421) 24,565