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||||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|
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|||||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.|||
##
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##
##
|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||||||||
##
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##
##
##
##
||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|
##
##
##
##
##
##
##
##