##
|||Page|
|---|---|---|
|Legal and Administrative|Information||
|Governors'
Report||2 —13|
|Independent
Auditor's|Report|14 —17|
|Statement of Financial|Activities|18-19|
|Balance Sheet||20|
|Cashf low Statement||21|
|Notes to the Financial Statements||22-45|
|COMPANY NUMBER|03394895|||
|---|---|---|---|
|CHARITY NUMBER|1115875|||
|REGISTERED OFFICE|King Edward's|School||
||North Road|||
||Bath|||
||BA2 6HU|||
|GOVERNORS|Mrs W. Thomson|||
||Mr I.A. Bleakley|||
||Mr T. Boyce|||
||Mrs V. Chalmers|||
||Mr P.G. Cobb|||
||Mrs C.A. Colston|||
||Mr S.Coombe|||
||Mr J.Graham-Brown|||
||MrJ.Isherwood|||
||Prof S.C. Lillicrap|||
||Prof A. Millar|||
||Mr P. Roper|||
||Mr R.P.Stevens|||
||Mr O.A. Von Arx*|||
||*Parent of pupil(s) at the School|||
|HEADMASTER|Mr M.J.Boden*|||
|BURSAR &CHIEF OPERATING|Mr T.P. Davies|||
|OFFICER||||
|CLERK TO THE GOVERNORS|Mrs TVaid|||
|AUDITOR|Crowe U.K. LLP|||
||4'" Floor|||
||StJames' House|||
||StJames' Square|||
||Cheltenham|||
||GL50 3PR|||
|SOLICITOR|Stone King LLP|||
||Upper Borough|Court||
||3 Upper Borough||Walls|
||Bath|||
||BA1 1RG|||
|INVESTMENT IIANAGER|Charles Stanley||&Co. Limited|
||26 Queen Square|||
||Bath|||
||BA1 2HX|||
##
##
##
##
|raising
committees
along
with
the
Old
Edwardians'
Association
whose
clo
appreciate
and gladly acknowledge.
Related
party transactions
are disclosed
in note 33 to these financial statements.|raising
committees
along
with
the
Old
Edwardians'
Association
whose
clo
appreciate
and gladly acknowledge.
Related
party transactions
are disclosed
in note 33 to these financial statements.|raising
committees
along
with
the
Old
Edwardians'
Association
whose
clo
appreciate
and gladly acknowledge.
Related
party transactions
are disclosed
in note 33 to these financial statements.|raising
committees
along
with
the
Old
Edwardians'
Association
whose
clo
appreciate
and gladly acknowledge.
Related
party transactions
are disclosed
in note 33 to these financial statements.|raising
committees
along
with
the
Old
Edwardians'
Association
whose
clo
appreciate
and gladly acknowledge.
Related
party transactions
are disclosed
in note 33 to these financial statements.|se
supp|or|t|w|e|gr|e|atly|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Employment
policy|||||||||||||
|The|School||is an equal opportunities
employer.
Full and fair consideration
is given||tojob applications||||||from||
|disabled||persons and due consideration
is given to their training
and employment|||needs. Consultation||||||with||
|employees,|||or their representatives,
has continued
at all levels
with
the aim||of taking||the||views|||of|
|employees|||into account when decisions are made that are likely to affect their interests.||||||||||
|STRATEGIC REPORT|||||||||||||
|Risk|Management||||||||||||
|The|Board of Governors
is responsible
for the management
of the risks faced||||by the School.|||||Detailed|||
|considerations
of risk are delegated
to the Chair and the Chairs of the Governors'
Committees,||||||||||assisted|||
|by the Headmaster||||and Bursar. Risks are identified,
assessed,
and controls established|||as|part of||||the|
|work|of|the|individual
Committees.
A formal
review
of the charity's
risk management||||processes|||||is|
|undertaken|||each year and the main or key operational
risks identified
and these are documented||||||here:||||
|Educational:|||||||||||||
||~|Academic||standards
declining as reflected
by external examination
results; mitigated||||by:|||||
|||||Recruitment
and retention
ofgood quality teaching
staff;|||||||||
|||||Systematic performance
review and development
ofteaching|staff.||||||||
|Pastoral:|||||||||||||
||~|Adverse
pastoral
matter arising;
mitigated
by:|||||||||||
||||&|Robust structures
and systems
in place to identify and manage
behaviour||||issues|||and||
|||||possible
underlying
causes;|||||||||
||||k|Robust structures
in place to manage
and support well-being,|including||an|awareness|||||
|||||of and
close supervision
of those
identified
as, or who|identify|themselves||||||as,|
|||||vulnerable
members
ofthe community;|||||||||
||||&|Staff training
on specific issues (eg. self-harm,
suicide or bereavement).|||||||||
|Health
and Safety:|||||||||||||
||~|Failure to||ensure safe, secure and suitable premises
and accommodation;|mitigated||by:||||||
|||||Organisational
structures
and resources to sustain
regular repairs
8 maintenance;|||||||||
|||||Refurbishment
and
renewals
to
improve
and
meet
new
standards||||of||safety,|||
|||||education,
environment,
technology
and legislation, as required.|||||||||
|Legal and/or|||regulatory:||||||||||
||~|Failure to||comply with statutory,
legal or educational
requirements;
mitigated
by:|||||||||
|||||Systematic
production
and review of policies and procedures|carried|out||at|all levels||||
|||||by management
and staff trained and supported
as required;|||||||||
|||||Organisation
and management
structures
to ensure
monitoring
and||implementation|||||||
|||||of policies and procedures.|||||||||
|Financial:|||||||||||||
||~|Significant||and sustained
decline
in pupil numbers;
mitigated
by:|||||||||
|||||High quality academic,
pastoral
and co-curricular
provision
in|all three|sections of||||||the|
|||||School;|||||||||
##
##
##
##
##
##
##
##
##
##
##
##
|se
gas|emissions
and|emissions
and|energy|energy|use for the periods:||
|---|---|---|---|---|---|---|
|Energy|consumption||used||2021-22|2020-21|
|to
calculate
emisslons|||||||
|kwh|||||||
|Energy|consumption|used||to|2,162,076|2,440,054|
|calculate emissions||(kWh);||all|||
|mandatory
energy||sources|||||
|are included|||||||
|Scope|1 emissions|in|metric||||
|tonnes|CO2e||||||
|~|Natural Gas||||228|297|
|~|Owned
transport||||20||
||minibuses
8|vans|||||
|Scope|2emissions|in|metric||||
|tonnes|CO2e||||||
|~|Purchased
electricit||||157|183|
|Scope|3emissions|in|metric||||
|tonnes|CO2e||||||
|~|Business||travel||||
||in employee||||||
||owned vehicles||||||
|Total|gross
emissions|||in|406|490|
|metric|tonnes CO2e||||||
|Intensity
ratio Tonnes|||CO2e||0.37(1,092 pupils)|0.46 (1,072 pupils)|
|er
u|II||||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|funds|
|||Note|2022|2022f|2022f|2022|2021|
|Income from:||||||||
|Donations||||97,068||97,068|157,112|
|Charitable
activities:||||||||
|School fees|||14,304,552|||14,304,552|13,189,514|
|Other educational||||||||
|income|||546,866|||546,866|485,250|
|Other ancillary
trading||||||||
|income|||749,629|||749,629|555,558|
|Non- ancillary
trading||||||||
|activities|||65,120|||65,120|195,850|
|Investments|||33,850|||33,850|40,485|
|Total income and||||||||
|endowments|||15,700,017|97,068||15,797,085|14,623,769|
|Expenditure
on:||||||||
|Raising funds:||10,11||||||
|Fundraising
costs|||47,512|||47,512|47,941|
|Financing costs|||15,855|||15,855|16,958|
|Charitable
activities:||12||||||
|Education
and||||||||
|grantmaking|||15,021,342|73,292||15,094,634|14,168,197|
|Total expenditure|||15,084,709|73,292||15,158,001|14,233,096|
|Net income before||||||||
|net (losses)/gains|on|||||||
|investments|||615,308|23,776||639,084|390,673|
|Net (losses)/gains|on|||||||
|investments|||(142,935)|||(142,935)|3'/9, 672|
|Net income|||472,373|23,776||496,149|710,345|
|Transfers
between||||||||
|funds||24|25,357|(25,357)||||
|Net movement
in||||||||
|funds|||497,730|(1,581)||496,149|710,345|
##
||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|funds|
|||Note|2022|2022|2022f|2022|2021|
|Reconciliation|of|||||||
|funds:||||||||
|Total funds brought||||||||
|forward||24|16,349,924|212,581|2,054,307|18,616,812|17,906,467|
|Net movement|in funds||497,730|(1,581)||496,149|710,345|
|Total funds carried||||||||
|forward||24|16,847,654|211,000|2,054,307|19,112,961|'/8, 616,812|
##
||||Note|2022f|2022
E|2021|2021|
|---|---|---|---|---|---|---|---|
|Fixed assets||||||||
|Tangible assets|||16||20,896,588||20,469,139|
|investments|||17||1,517,467||1,629,308|
||||||22,414,055||22,098,447|
|Current assets||||||||
|Stocks|||18|3,610||2,190||
|Debtors|||19|596,417||577,010||
|Cash at bank and|in hand|||610,595||2,250||
|||||1,210,622||581,450||
|Creditors: amounts|falling|due within one||||||
|year|||20|(3,173,504)||(2,518,343)||
|Net current liabilities|||||(1,962,882)||(1,936,893)|
|Total assets less|current|liabilities|||20,451,173||20,161,554|
|Creditors: amounts|falling|due after more||||||
|than one year|||21||(1,298,212)||(1,544,742)|
|Provisions
for liabilities|||23||(40,000)|||
|Total net assets|||||19,112,961||18,616,812|
|Charity funds||||||||
|Endowment
funds|||24||2,054,307||2,054,307|
|Restricted
funds|||24||211,000||212,581|
|Unrestricted
funds|||24||16,847,654||16,349,924|
|Total funds|||||19,112,961||18,616,812|
##
||||||Note|2022f|2021|
|---|---|---|---|---|---|---|---|
|Cash flows from operating||activities||||||
|Net cash|used
in operating|activities|||27|2,232,375|1,068,890|
|Cash flows from investing||activities||||||
|Dividends,|interests
and rents from investments|||||33,412|40,485|
|Purchase|oftangible
fixed assets|||||(1,262,294)|(304,537)|
|Purchase|of investments|||||(31,094)|(30,508)|
|Net cash|used in investing|activities||||(1,259,976)|(294,560)|
|Cash flows from financing||activities||||||
|Repayments
of borrowing||||||(177,215)|(177,215)|
|Bank loan|interest paid and|finance costs||||(15,855)|(16,958)|
|Net cash|used in financing|activities||||(193,070)|(194,173)|
|Change
in cash and cash||equivalents|in|the year||779,329|580,157|
|Cash and|cash equivalents|at the beginning||ofthe year||(168,734)|(748,891)|
|Cash and|cash equivalents|at the end|of|the year|28|610,595|(168,734)|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||2022f|2021|
|---|---|---|---|---|---|
|Gross school|fees|||16,124,485|14,954,527|
|Less: Total bursaries,||grants and allowances||(1,864,643)|(1,765,013)|
|||||14,259,842|13,189,514|
|Add: Bursaries|paid|for using restricted|funds|44,710||
|||||14,304,552|13,189,514|
##
##
##
##
|Other educational
income||||
|---|---|---|---|
|||2022|2021|
|After school clubs and school trips||207,569|169,706|
|Music, Lamda and learning|support lessons|339,297|315,544|
|||546,866|485,250|
##
|Other ancillary|trading
income|||
|---|---|---|---|
|||2022f|2021|
|Lunch charges||635,358|475,504|
|Food and cafe|sales|16,923|7,105|
|Fee protection|scheme|20,276|18,513|
|Bus and coach|service income|77,072|54,436|
|||749,629|555,558|
##
||||2022|2021|
|---|---|---|---|---|
|Rent received|||20,826|4,179|
|Government|grants|||138,780|
|Other incoming||resources|44,294|52,891|
||||65,120|195,850|
##
##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2022f|2022|
|Dividends|received|33,412|33,412|
|Interest received||438|438|
|||33,850|33,850|
|||Unrestricted|Totai|
|||funds|funds|
|||2021|2021|
|Dividends|received|33,430|33,430|
|Interest received||7,055|7,055|
|||40,485|40,485|
##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2022|2022f|
|Other|costs|12,336|12,336|
|Staff|costs|35,176|35,176|
|||47,512|47,512|
##
##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2021|2021|
|Other|costs|14,729|14,729|
|Staff|costs|33,212|33,212|
|||47, 94'l|47,941|
##
||||||||Unrestricted|Total|
|---|---|---|---|---|---|---|---|---|
||||||||funds|funds|
||||||||2022|2022|
|Bank|loan|interest|and|other|finance|costs|15,855|15,855|
||||||||Unrestricted|Total|
||||||||funds|funds|
||||||||2021|2021|
|Bank|loan|interest|and|other|finance|costs|16,958|16,958|
||||Unrestricted|Restricted||
|---|---|---|---|---|---|
||||funds|funds|Total|
||||2022|2022|2022|
||||f||F|
|Teaching|||9,562,327|44,710|9,607,037|
|Welfare|||1,105,253||1,105,253|
|Premises|||2,228,448||2,228,448|
|Support|and|governance|2,125,314|28,582|2,153,896|
||||15,021,342|73,292|15,094,634|
||||Unrestricted|Restricted||
|---|---|---|---|---|---|
||||funds|funds|Total|
||||2021|2021|2021|
|Teaching|||9,218,851||9,218,851|
|Welfare|||985,127||985,127|
|Premises|||1,892,872||1,892,872|
|Support|and|governance|1,853,123|218,224|2,071,347|
||||13,949,973|218,224|14,168,197|
##
||||Staff costs|Depreciation|Other costs|Total|
|---|---|---|---|---|---|---|
||||2022|2022|2022|2022|
|||||K|||
|Teaching|||8,946,172||660,865|9,607,037|
|Welfare|||702,392||402,861|1,105,253|
|Premises|||268,408|834,845|1,125,195|2,228,448|
|Support|and|governance|1,037,827||1,116,069|2,153,896|
||||10,954,799|834,845|3,304,990|15,094,634|
##
||||Staffcosts|Depreciation|Other costs|Total|
|---|---|---|---|---|---|---|
||||2021|2021|2021|2021|
|Teaching|||8,839,954||378,897|9,218,851|
|Welfare|||702,667||282,460|985,127|
|Premises|||259,942|840,775|792,155|1,892,872|
|Support|and|governance|1,173,304||898,043|2,071,347|
||||10,975,867|840,775|2,351,555|14,168,197|
##
||||2022f|2021|
|---|---|---|---|---|
|Fees payable to|the School's auditor and its associates|for the audit ofthe|||
|School's annual|accounts||17,000|15,000|
|Fees payable to|the School's auditor and its associates|in respect of:|||
|Other services|||2,100|1,900|
##
||2022f|2021|
|---|---|---|
|Wages and salaries|8,555,022|8,577,173|
|Social security costs|883,847|859,114|
|Contributions
to pension schemes|1,551,106|1,572,792|
||10,989,975|11,009,079|
##
##
##
|The average|number|number|of|persons|employed|by the School during|the year|was as follows:||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|
|||||||||No.|Mo.|
|Teaching staff||(including||academic support)||||207|207|
|Administration||and support||||||35|30|
|Premises||||||||11|12|
|Welfare||||||||42|42|
|||||||||295|291|
|2022|2021|
|---|---|
|No.|No.|
##
||||||Assets||
|---|---|---|---|---|---|---|
||Freehold|School|Fixtures|Motor|under||
||properties
f|equipment
E|and fittings
E|vehicles
F|construction
E|Total
K|
|Cost or valuation|||||||
|At 1 September 2021|24,435,619|1,111,630|1,599,977|331,611||27,478,837|
|Additions|53,976|289,249|78,790||840,279|1,262,294|
|Disposais||(78,491)|(77,191)|||(155,682)|
|At 31 August 2022|24,489,595|1,322,388|1,601,576|331,611|840,279|28,585,449|
|Depreciation|||||||
|At 1 September 2021|5,193,709|783,413|769,070|263,506||7,009,698|
|Charge for the year|483,785|176,136|139,454|35,470||834,845|
|On disposais||(78,491)|(77,191)|||(155,682)|
|At 31 Aug ust 2022|5,677,494|881,058|831,333|298,976||7,688,861|
|Net book value|||||||
|At 31 August 2022|18,812,101|441,330|770,243|32,635|840,279|20,896,588|
|At31August 2021|19,241,910|328,217|830,907|68,105||20,469,139|
##
##
||Listed|
|---|---|
||investments|
|Cost or valuation||
|At 1 September 2021|1,629,308|
|Reinvested
income|33,412|
|Investment
manager fees|(2,318)|
|Decrease
in value of investments|(142,935)|
|At 31 August 2022|1,517,467|
##
||||||2022|2021|
|---|---|---|---|---|---|---|
|Kitchen|stores,|clothes|and|prospectuses|3,610|2,190|
##
|||2022|2021|
|---|---|---|---|
|||E||
|Due within one year||||
|Fee debtors||312,2&9|234,824|
|Other debtors||11,308|51,871|
|Prepayments|and accrued income|272,820|290,315|
|||596,417|577,010|
##
||||2022f|2021|
|---|---|---|---|---|
|Bank overdrafts||||170,984|
|Bank loans|||177,215|177,215|
|Trade creditors|||712,402|354,459|
|Other taxation|and social security||381,567|377,541|
|Fees received|in advance||837,751|654,340|
|Refundable
deposits|||456,675|413,194|
|Other creditors|||231,139|148,313|
|Accruals and deferred||income|376,755|222,297|
||||3,173,504|2,518,343|
||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
||||||||E||
|Analysis|ofmovement||in|deferred||income|||
|Deferred|income at 1 September||||2021||500||
|Resources deferred||during||the year|||2,345|500|
|Amounts|released|from|previous||periods||(500)||
||||||||2,345|500|
##
##
||||2022f|2021|
|---|---|---|---|---|
|Bank loans|||898,453|1,075,669|
|Fees received|in advance||399,759|469,073|
||||1,298,212|1,544,742|
|Included
within|the above are amounts|falling due as follows:|||
||||2022|2021|
|Between one|and two years||||
|Bank loans|||177,215|177,215|
|Between two|and five years||||
|Bank loans|||531,645|531,645|
|Over five years|||||
|Bank loans|||189,593|366,809|
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
||Payable|or repayable|by instalments|||189,593|366,809|
|22.|Financial|instruments||||||
|||||||2022|2021|
||Financial|assets||||||
||Financial|assets measured||at fair value through|income and expenditure|1,517,467|1,629,308|
##
##
##
|Statement offunds|Statement offunds|||||||
|---|---|---|---|---|---|---|---|
|Statement offunds||-current year||||||
|||Balance at 1|||||Balance at|
|||September|||Transfers|Gains/|31August|
|||2021|Income|Expendituref|in/outf|(Losses)
f|2022|
|Unrestricted|funds|||||||
|Designated|funds|||||||
|Designated|Bursary|||||||
|Fund||134,546|||||134,546|
|General funds||||||||
|General||16,215,378|15,700,017|(15,084,709)|25,357|(142,935)|16,713,108|
|Total Unrestricted||||||||
|funds||16,349,924|15,700,017|(15,084,709)|25,357|(142,935)|16,847,654|
|Endowment|funds|||||||
|Endowment|Fund—|||||||
|Permanent||1,845,977|||||1,845,977|
|Endowment|Fund-|||||||
|Expendable||208,330|||||208,330|
|||2,054,307|||||2,054,307|
|Restricted funds||||||||
|Prize fund||133,083|600|(3,701)|||129,982|
|Bursary fund|||44,710|(44,710)||||
|The Parents'||||||||
|Committee||20,343|43,673|(20,467)|(17,000)||26,549|
|Hockey Festival||15,022|2,885|(1,432)|||16,475|
|Other funds||44,133|5„200|(2,982)|(8,357)||37,994|
|||212,581|97,068|(73,292)|(25,357)||211,000|
|Total offunds||18,616,812|15,797,085|(15,158,001)||(142,935)|19,112,961|
|Statement|offunds|(continued)||||||
|---|---|---|---|---|---|---|---|
|Statement|offunds|- prior year||||||
|||Balance at|||||Balance at|
|||1 September|||Transfers|Gains'|31August|
|||2020|Income|Expenditure|in/out|(Losses)|2021|
|Unrestricted|funds|||||||
|Designated|funds|||||||
|Designated|Bursary|||||||
|Fund||134,546|||||134,546|
|General funds||||||||
|General||15,317,765|14,466,657|(14,014,872)|126,156|319,672|16,215,378|
|Total Unrestricted||||||||
|funds||15,452, 31'/|14,466,657|(14,014,872)|126,156|3'/9, 672|16,349,924|
|Endowment|funds|||||||
|Endowment|Fund-|||||||
|Permanent||1,845,977|||||1,845,977|
|Endowment|Fund-|||||||
|Expendable||208,330|||||208,330|
|||2,054,307|||||2,054,307|
|Restricted funds||||||||
|Prize fund||133,740|1,000|(1,657)|||133,083|
|Bursary fund||161,322|37,700|(199,022)||||
|The Parents'||||||||
|Committee||39,702|16,854|(16,213)|(20,000)||20,343|
|Hockey Festival||15,432||(410)|||15,022|
|Mailer fund||6,156|||(6, '/56)|||
|Other funds||43,497|10/,558|(922)|(100,000)||44,133|
|||399,849|'/57, 112|(218,224)|(126,156)||212,581|
|Total offunds||17,906,467|14,623,769|(14,233,096)||319,672|18,616,812|
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|Summary
offun|ds - current ye|ar|||||
|---|---|---|---|---|---|---|
||Balance at 1|||||Balance at|
||September|||Transfers|Gains/|31August|
||2021|Income
f|Expenditure
K|in/out
f|(Losses)|2022
f|
|Designated|||||||
|funds|134,546|||||134,546|
|General funds|16,215,378|15,700,017|(15,084,709)|25,357|(142,935)|16,713,108|
|Endowment|||||||
|funds|2,054,307|||||2,054,307|
|Restricted funds|212,581|97,068|(73,292)|(25,357)||211,000|
||18,616,812|15,797,085|(15,158,001)||(142,935)|19,112,961|
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|||||Balance at|||||Balance at|
|---|---|---|---|---|---|---|---|---|---|
||||1|September|||Transfers|Gains'|31August|
|||||2020|Income|Expenditure|in/out|(Losses)|2021|
|Designated||||||||||
|funds||||134,546|||||134,546|
|General|funds|||15,317,765|14,466,657|(14,014,872)|126,156|319,672|16,215,378|
|Endowment||||||||||
|funds||||2,054,307|||||2,054,307|
|Restricted||funds||399,849|157,112|(218,224)|(126,156)||212,581|
|||||17,906,467|14,623,769|(14,233,096)||319,672|18,616,812|
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|Analysis|ofn|et assets|between funds -|current year||||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment|Total|
|||||funds|funds|funds|funds|
|||||2022|2022|2022|2022f|
|Tangible|fixed|assets||18,842,281||2,054,307|20,896,588|
|Fixed asset investments||||1,517,467|||1,517,467|
|Current assets||||999,622|211,000||1,210,622|
|Creditors|due|within one year||(3,173,504)|||(3,173,504)|
|Creditors|due|in more than one year||(1,298,212)|||(1„298,212)|
|Provisions|for|liabilities|and charges|(40,000)|||(40,000)|
|Total||||16,847,654|211,000|2,054,307|19,112,961|
|Analysis|of n|et assets between
funds -|prior year||||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|Total|
||||funds|funds|funds|funds|
||||2021|2021|2021|2021|
|Tangible|fixed|assets|18,414,832||2,054,307|20,469,139|
|Fixed asset investments|||1,629,308|||1,629,308|
|Current|assets||368,869|212,581||581,450|
|Creditors|due|within one year|(2,518,343)|||(2,518,343)|
|Creditors|due|in more than one year|(1,544,742)|||(1,544,742)|
|Total|||16,349,924|212,581|2,054,307|18,616,812|
||||||2022|2021|
|---|---|---|---|---|---|---|
|Net income for the|year (as per Statement||of Financial|Activities)|496,149|710,345|
|Adjjstments for:|||||||
|Depreciation
charges|||||834,845|840,775|
|Gains/(losses)
on investments|||||142,935|(319,672)|
|Dividends,
interests|and rents from|investments|||(33,412)|(40,485)|
|Decrease/(increase)|in stocks||||(1,420)|517|
|Decrease/(increase)|in debtors||||(16,536)|44,407|
|Increase/(decrease)|in creditors||||753,959|(183,955)|
|Finance costs|||||15,855|16,958|
|Provisions
for liabilities|||||40,000||
|Net cash provided|by operating|activities|||2,232,375|1,068,890|
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