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2022-08-31-accounts

Page
Reference and administrative details ofthe Company, its Trustees and advisers 1-2
Trustees' report 3-20
Independent auditors'
report		 on the financial statements 21-25
Consolidated statement
offinancia activities
Consolidated balance sheet 27-28
Company
balance sheet		 29-30
Consolidated statement
ofcash flows		 31
Notes to the financial statements 32-71

Unrestricted Restricted Total Total
funds funds funds funds
2022 2022 2022 2021
Note f.
Income from:
Donations
and legacies		 23,771 14&,494 172,265 79,896
Charitable
activities		 13,278,182 29,746 13,307,928 12,335,199
Other trading
activities		 109,541 109,541 46,028
Investment
income		 93,134 5,468 9&,602 47,817
Other income 167, 7'/8
Total income 13,504,628 1&3,708 13,688,336 12,676,658
Expenditure
on:
Raising funds 75,191 75,191 38,307
Charitable
activities		 10 13,2&0,710 65,904 13,346,614 12,857,266
Total expenditure 13,355,901 65,904 13,421,805 12,895,573
Net income/(expenditure) before net
gains/(losses)
on		 investments 148,T27 117,804 266,531 (218,9'15)
Net gains/(losses) on investments 125,862 (22,494) 103,368 266,875
Net income before taxation 274,589 95,310 369,899 47,960
Taxation 15 (7)
Net movement
in		 funds 274,589 95,310 369,899 47,953
Reconciliation
of		 funds:
Total funds brought forward 26,202,580 438,426 26,641,006 26,593,053
Net movement
in funds		 2T4,589 95,310 369,899 47,953
Total funds carried forward 26,477,169 533,736 27,010,905 26,641,006

CONSOLIDATED BALANCE SHEET
AS AT 31 AUGUST 2022
2022 2021
Note
Fixed assets
Tangible assets 16 28,223,331 26,202,691
Investments 18 1,804,368 1,983,667
Investment
property		 17 1,100,000 820,000
31,127„699 29.006,358
Current assets
Stocks 19 87,789 90,864
Debtors 20 557,619 645,915
Cash at bank and in hand 3,995,974 4,916,187
4,641,382 5,652,966
Creditors: amounts falling due within one
year 21 (4,354,673} (3,780,939)
Net current assets 286,709 1,872,027
Total assets less current liabilities 31,414,408 30,878,385
Creditors: amounts falling due after more
than one year 22 (4,403,503} (4,237,379)
Total net assets 27,010,905 26,641,006
Charity funds
Restricted funds 24 533,736 438,426
Unrestricted
funds		 24 26,477,169 26,202,580
Total funds 27,010,905 26,641,006

COMPANY BALANCE SHEET COMPANY BALANCE SHEET
AS AT 31AUGUST 2022
Note 2022f 2021
E
Fixed assets
Tangible assets 16 28,290,882 26,270,242
Investments 18 1,804,371 1,983,670
Investment
property		 17 1,100,000 820,000
31,195,253 29,073,9'/2
Current assets
Stocks 19 87,789 90,864
Debtors 20 543,362 656,094
Cash at bank and in hand 3,994,200 4,902,219
4,625,351 5,649,177
Creditors: amounts falling due within one
year 21 (4,352,691) (3,773,023)
Net current assets 272,660 1,876,154
Total assets less current liabilities 31,467,913 30,950,066
Creditors: amounts falling due after more
than one year 22 (4,403,503) (4,237,379)
Total net assets 27,064,410 26, 7'/2, 687
Charity funds
Restricted funds 24 533,736 438,426
Unrestricted
funds		 24 26,530,674 26,274,261
Total funds 27,064,410 26,712,687

2022 202/f
Cash flows from operating
activities
Net cash used in operating
activities		 2,339,229 363,736
Cash flows from investing
activities
Dividends,
interests
and rents from investments		 52,074 60,593
Proceeds from the sale oftangible fixed assets 13,2'/5
Purchase oftangible fixed assets (3,029,201) (900,251)
Proceeds from sale of investments 31,009 35,431
Purchase of investments (23,052) (30,426)
Proceeds from sale of investment property 905,887
Net cash {used in)/provided
by		 investing activities (2,969,170) 84,449
Cash flows from financing
activities
Cash infiows from new borrowing 1,930,453 2,500,000
Repayments
of borrowing		 (2,099,365) (259,569)
Interest paid {116,069) (85,020)
Net cash (used in)/provided
by		 financing activities (284,981) 2,155,411
Change
in cash and cash equivalents
in		 the year (914,922) 2,603,596
Cash and cash equivalents
at the		 beginning ofthe year 4,925,015 2,321,419
Cash and cash equivalents
at the end of		 the year 4,010,093 4,925,015
The notes on pages 32to 71 form part ofthese financial statements

Restricted Total
funds funds
2021 2021
E E
79,896 79,896

Unrestricted Restricted Total
funds funds funds
2022 2022 2022
f. E
Fees receivable 12,796,018 12,796,018
Other fee income 482,164 482,164
Grants received 29,746 29,746
13,278,182 29,746 13,307,928
Unrestricted Restricted Total
funds funds funds
2021 2021 2021
Fees receivable 11,892,842 11,892,842
Other fee income 402,697 402,697
Grants received 39,660 39,660
12,295,539 39,660 12„335,199

Fees receivable Fees receivable Fees receivable consist of: consist of:
2022 2021
Gross fees 14,007,331 13,135,095
Less bursaries, grants and allowances (1,241,059) (1,268,161)
Add bursaries paid by restricted funds 29,746 25,908
Total 12,796,018 11,892,842
Other fee income consists of:
2022 2021
f.
Casual board and lodging 62,496 47,95'I
Music tuition 209,522 174,466
Learning support 16,464 41,456
Other 193,682 138,824
Total 482,164 402,697
6. Income from other trading activities
Income from non charitable trading activities
Unrestricted Total
funds funds
2022 2022
f.
Trading income 109,541 109,541
Unrestricted Total
funds funds
2021 2021
E E
Trading income 46,028 46,028

Unrestricted Restricted Total
funds funds funds
2022 2022 2022
f. F
Investment income 93,134 5,468 98,602
Unrestricted Restricted Total
funds funds funds
2021 2021 2021
Investment income 39,832 8,185 47,817
Investment income consists of:
2022 2021
E
Listed stock and equities 34,378 47,458
Bank interest receivable 1,522 359
Other interest receivable 62,702
98,602 47,817
8. Other incoming resources
Total
funds
2022
Government grants

Unrestricted Total
funds funds
2021 2021
E
Government grants 167,718 167,718
9. Analysis of grants
Grants to Total
Individuals funds
2022 2022
Grants payable 63,583 63,583
Grants to Total
Individuals funds
2021 2021
E
Grants payable 56,671 56,671

Unrestricted Restricted
funds funds Total
2022 2022 2022
f. f. f.
Teaching costs 7,639,951 7,639,951
Welfare 1,537,851 1,537,851
Premises 1,938,163 1,938,163
Support costs 2,068,326 2,321 2,070,847
Foundation costs 96,419 96,419
Grants payable 63,583 63,583
13,280,710 65,904 13,348,614
Unrestn'cted Restn'cted
funds funds Total
2021 2021 2021
E
Teaching costs 7,274,576 7,274,576
Welfare 1,409,163 1,409,163
Premises 1,803,828 1,803,828
Support costs 2,239,496 2,165 2,241,661
Foundation costs 71,367 71,367
Grants payable 56,671 56,671
12,727,063 130,203 12,857,266

Staff costs Depreciation Other costs Total
2022 2022 2022f 2022
E
Teaching costs 6,761,055 372,965 505,931 7,539,951
Welfare 939,.830 598,021 1,537,851
Premises 351,107 635,596 951,460 1,938,163
Support costs 1,160,937 909,710 2,070,647
Foundation costs 61,131 35,288 95,419
Grants Payable 63,583 53,583
9,274,060 1,008,561 3,063,993 13,345,614
Staffcosts Depreciation Other costs Total
2021 2021 2021 2021
E E
Teaching costs 6,535,251 347,247 392,078 7274 576
Welfare 926,216 482,947 1,409,163
Premises 330,426 620,517 852,885 1,803,828
Support costs 1,144,876 1,096,785 2,241,661
Foundation costs 49,953 21,414 71,367
Grants payable 56,671 56,671
8,986,722 967,764 2,902,780 12,857,266

Activities Grant
undertaken funding of Support Total
directly activities costs funds
2022 2022 2022f 2022
f.
Teaching costs 7,602,274 37,677 7,639,951
Welfare 1,537,851 1,537,851
Premises 1,938,163 1,938,163
Support costs 2,070,647 2,070,647
Foundation costs 96,419 96,419
Grants payable 63,583 53,583
11,174,707 63,583 2,108,324 13,346,614
Activities Grant
undertaken funding
of		 Support Total
directly activities costs funds
2021 2021 2021 2021
E E
Teaching costs 7,227,363 47,2'l3 7,274,576
Welfare 1,409,163 1,409,163
Premises 'l,803,828 1,803,828
Support costs 2,241,661 2,241,661
Foundation costs 71,367 71,367
Grants payable 56,671 56,671
10,511,721 56,671 2,288,874 12,857,266

Support Total
Governance costs funds
2022f 2022f 2022f
Staff costs 1,160,937 1,160,937
Professional fees 96,419 96,419
Postage, stationery and telephone expenses 82,151 82,151
Transport costs 131,777 131,777
Publicity 125,419 125,419
Donations
and community		 140,617 140,617
Subscriptions 68,119 68,119
Finance costs 116,069 116,069
Other costs 149,139 149,139
Governance costs 37,677 37,6?7
37,677 2,070,647 2,108,324
Support Total
Governance costs funds
2021 2021 2021
Staff costs 1,144,876 1,144,876
Professional fees 68,523 68,523
Postage, stationery and telephone expenses 69,730 69,730
Transport costs 96,749 96,749
Publicity 118,931 118,931
Donations
and community		 142,480 142,480
Subscriptions 71,728 71,728
Finance costs 117,210 117,210
Other costs 411,434 411,434
Governance costs 47,213 47,213
47,213 2,241,661 2,288,874

2022 2021
E
Fees payable to the Company's auditor and its associates for the audit of
the Company's annual accounts 21,600 17,949
Fees payable to the Company's auditor and its associates in respect of:
Audit ofthe Company's subsidiaries 4,590 7,901

harity's (school) activities
2022 2021
F
Incoming resources 13,594,969 12,618,891
Charitable
expenditure		 ~13348614 ~12816217
Net incoming
resources		 248,355 (191,326
Investment
gains/(losses)		 103,368 266,875
Funds brought
forward		 28712687 26637138
Funds carried forward 27,064,410 26,712,687

Group Group Company Company
2022 2021 2022 2021
Wages and salaries 7,354,632 7,149,001 7,354,632 ?,107,070
Social security costs 698,382 658,156 698,382 653,740
Contribution to defined contribution pension
schemes 1,233,046 1,193,061 1,233,046 1,189,455
9,286,060 9,000,218 9,286,060 8,950,265

Group Group Company Company
2022 2021 2022 2021
No. No. No. No.
Teaching staff 111 136 111 136
Support staff 183 149 181 147
294 285 292 283
Group Group Company Company
2022 2021 2022 2021
No. No. No. No.
Teaching staff 116 84 116
Support staff 102 146 101
230 218 230 217
Group Group
2022 2021
No. No.
In the band f60,001 - 670,000
In the band f70,001 - f80,000
In the band 880,001 - f90,000
in the band f90,001 - f100,000
In the band 6120,001 - f130,000

the UK of 1 9/o (2021 - 1 9').The diff erences
are explaine		 d
below:
2022 202'/
f. E
Net income before tax 369,899 47,960
Net income multiplied
by the standard
(2021 - 19/o).		 rate of corporation tax in the UK of19 70,281 9,112
Effects of:
Exemption on net income/(expenditure) due to charitable activities (70,281) (9,112)
Adjustments to tax charge in respect of prior periods 7
Total tax charge for the year
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17. Investment property
Group
Freehold
investment
property
Valuation
At 1 September 2021 820,000
Surplus
on revaluation		 280,000
At 31 August 2022 1,100,000
Company
Freehold
investment
property
E
Valuation
At 1 September 2021 820,000
Surplus
on revaluation		 280,000
At 31 August 2022 1,100,000
Group Group Company Company
2022 2021 2022 2021
E E
Cost 827,000 627,000 627,000 627,000
Revaluation gains/(losses) 473,000 193,000 473,000 193,000
1,100,000 820,000 1,100,000 820,000

Listed
Group investmentsf
Cost or valuation
At 1 September 2021 1,983,667
Additions 23,052
Disposals {25,719)
Revaluations {176,632)
At 31August 2022 1,804,368
Net book value
At 31August 2022 1,804,368
At 31August 2021 1,983,667

The following a re greater than 5%of the market value ofthe listed investments:-
2022 2021
E
Handelsbanken Balanced Multi Asset Fund C 643,159 700,122
Handelsbanken income Plus Multi Asset Fund C 933,760 1,034,387

Investments
in
subsidiary Listed
companies investments Total
Company K F f.
Cost or valuation
At 1 September 2021 1,983,667 1,983,670
Additions 23,052 23,052
Disposals (25,719) {25,719)
Revaluations (176,632) {176,632)
At 31 August 2022 3 1,804,368 1,804,371
Net book value
At 31 August 2022 3 1,804,368 1,804,371
At 31August 2021 3 1,983,667 1,983,670
The historical cost of company investments is E1,708,942.
19. Stocks
Group Group Company Company
2022 2021 2022 2021
E
Stocks 87,789 90,864 87,789 90,864

Group Group Company Company
2022 2021 2022 2021
E E
Due within one year
School fees 320,087 259,226 320,087 259,226
Amounts
owed by group undertakings		 17,330
Amounts
owed by connected		 charity 63,964 274,160 63,964 274,160
Other debtors 46,840 31,869 31,729 24,718
Prepayrnents and accrued income 126,728 80,660 127,582 80,660
557,619 645,915 543,362 656,094

Group Group Company Company
2022 2021 2022 2021
E
Bank loans 117,373 452,202 117,373 452,202
Pupil deposits 625,512 578,248 625,512 578,248
Trade creditors 637,399 475,894 637,399 475,894
Amounts
owed to group undertakings		 3,976
Other taxation and social security 169,726 166,248 169,726 166,248
Fees paid
in advance		 1,750,888 1,539,428 1,750,888 1,539,428
Other creditors 526,997 356,095 526,497 353,595
Accruals and deferred income 526,?78 212,824 521,320 207,408
4,354,673 3,780,939 4,352,691 3,773,023

Group Group Company Company
2022
f.		 2021
E		 2022 2021f
Bank loans 4,403,503 4,237,379 4,403,503 4,237,379
Included within the above are amounts falling due as follows:
Group Group Company Company
2022 2021 2022 2021
f. E E E
Between one and two years
Bank loans 494,097 742,610 494,097 742,610
Between two and five years
Bank loans 1,511,969 2,260,545 1,511,969 2,260,545
Over five years
Bank loans 2,397,437 1,234,224 2,397,437 1,234,224
The aggregate amount of liabilities payable or repayable
wholly		 or in part more than five years after the
reporting date is:
Group Group Company Company
2022 2021 2022 2021
f. E
Payable or repayable by instalments 2,397,437 1,234,224 2,397,437 1,234,224
2,397,437 1,234,224 2,39?„437 1,234,224

Group statement offunds - cur rent year
Balance at 1 Balance at
September Transfers Gains/ 31August
2021 Income Expenditure in/out {Losses) 2022
E F E E
Unrestricted
funds
Designated
funds
Designated
Funds - all funds {59,686) 59,686
General funds
General Funds-
all funds 26,202,580 13,564,314 {13,355,901) {59,686) 125,862 26,477,169
Total
Unrestricted
funds 26,202,580 13,504,628 {13,355,901) 125,862 26,477,169

Statement offun ds (continued)
Balance at 1 Balance at
September Transfers Gains/ 31August
2021 Income Expenditure inlout (Losses) 2022
f,
Restricted
funds
Peter Daley
Fund 50,525 29,746 {29,746) 50,526
Birch Legacy for
Scholarships 304,216 4,289 (1,779) (17,641) 289,085
Black Legacy for
Scholarships 4,329 61 (25) (251) 4,114
Other Funds 79,355 1,118 {464) (4,602) 75,407
Ukraine Appeal 80,605 80,605
Foundation
Projects 33,999 33,999
Foundation
Bursaries 33,890 {33,&90)
438,426 183,708 (65,904) (22,494) 533,736
Total offunds 26,641,006 13,688,336 (13,421,805) 103,368 27,010,905
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Analysis ofgroup net assets between funds -current yea r
Unrestricted Restricted Total
funds funds funds
2022 2Q22 2022
F f. F
Tangible fixed assets 28,223,331 28,223,331
Fixed asset investments 1,581,231 223,137 '1,804,368
investment
property		 1,100,000 1,100,000
Current assets 4,330,783 310,599 4,641,382
Creditors due within one year (4,354,673) {4,364,673)
Creditors due in more than one year (4,403,503} {4,403,503)
Total 26,47?,169 533,736 27,010,905
Analysis ofgroup net assets between funds - prior year
Unrestricted Restricted Total
funds funds funds
2021 2021 2021
E
Tangible fixed assets 26,202,691 26,202,691
Fixed asset investments 1,735,768 247,899 1,983,667
Investment
property		 820,000 820,000
Current assets 5,462,439 190,527 5,652,966
Creditors due within one year (3,780,939) (3,780,939)
Creditors due in more than one year (4,237,379) (4,237,379)
Total 26,202,580 438,426 26,641,006

Group Group
2022 2021
Net income for the year (as per Statement of Financial Activities) 369,899 47,953
Adjustments
for:
Depreciation
charges		 1,008,561 967,773
(Gains)/Losses
on		 the sale of investment property {280,000) (35,887)
(Gains)/Losses
on		 investments 176,632 (266,875)
Dividends,
interests		 and rents from investments {52,074) (60,593)
Finance costs 116,069 85,020
Decrease
in stock		 3,075 (11,539)
(Increase)/Decrease in debtors 88,296 (80,927)
increase/(Decrease) in creditors 908,771 (281,189)
Net cash provided by operating activities 2,339,229 363,736
29. Analysis ofcash and cash equivalents
Group Group
2022 2021
Cash in hand 3,995,974 4,916,187
Cash held for investment 14,119 8,828
Total cash and cash equivalents 4,010,093 4,925,015

At 1
September At 31
2021 Cash flows August 2022
Cash at bank and in hand 4,916,187 (920,213) 3,995,974
Debt due within
1 year		 (452,202) 334,829 (117,373)
Debt due after 1 year (4,237,379) (165,124) (4,403,503)
226,606 (751,608) (524,902)

Group Group Company Company
2022 2021 2022 2021
f. E
Contracted for but not provided in these
financial statements
Acquisition oftangible fixed assets 32,153 32,153

Operating
le		 Operating
le		 ase commitments
At 31 August 2022 the Group and the Company had
commitments
to		 make future minimum lease
payments under non-cancellable operating leases as follows:
Group Group Company Company
2022 2021 2022 2021
f. E
Not later than 1 year 44,762 9,989 44,762 9,989
Later than 1 year and not later than 5years 513,227 410,260 513,227 410,260
Later than 5years 5,043 5,043
563,032 420,249 563,032 420,249

Principal su bsidiari es
The following was a subsidiary undertaking ofthe Company:
Name Company Principal
activity		 Holding
number
Ratcliffe Enterprises Limited 02707219 Provision of surnrner 100%
school and
conference facilities
for organisations and
individuals
using		 the
facilities of Ratcliffe
College, along with
the college tuck shop
and school shops
The financial results ofthe subsidiary for the year were:
Name Income Expenditure ProfitI{Loss) Net assets
ISurplus/
{Deficit)for
the year
Ratcliffe Enterprises Limited 93,387 75,193
18,174		 14,049