## ## |**CONTENTS**|**Page**| |---|---| |Governors, Officers and Advisers|1 - 3| |Governors' Report|4 - 16| |Independent Auditor's Report|17-19| |StatementofFinancial Activities|20| |Balance Sheet|21| |StatementofCash Flows|22| |Notestothe Financial Statements|23 - 42| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |**Unrestricted**
**Restricted**
**Endowment**
Notes
**Funds**
**Funds**
**Funds**
**£'000**
**£'000**
**£'000**
**Income and endowments from:**
**Charitable activities**
School fees
2
19,315
Other educational income
886
**Voluntary sources**
Grants and donations
3
13
1,158
28
**Trading activities**
Non-ancillary trading income
10
International schools
400
**Investments**
Investment income
27
102
**Total income and endowments**
**20,651**
**1,260**
**28**
**Expenditureon:**
Raising funds
425
91
Charitable activities
18,413
1,501
**Total expenditure**
4
**18,838**
**1,592**
**Net income before investment**
**gains/(losses)**
**1,813**
**(332)**
**28**
Net (losses)/gains on investments
9
(7)
703
2,516
**Net income before transfers**
**1,806**
**371**
**2,544**
Transfers between funds
16
12
335
(347)
**Net income before other**
**recognised gains and (losses)**
**1,818**
**706**
**2,197**
Pension scheme actuarial
gain/(loss)
18
912
Gains on foreignexchange
movements
9
22
72
**Net movementinfunds**
**2,730**
**728**
**2,269**
Reconciliationoffunds:
Total funds brought forward
31,729
5,422
10,832
**Total funds carried forward**
16
**34,459**
**6,150**
**13,101**|**Total**
**Funds**
**2021**
**£'000**
**19,315**
**886**
**1,199**
**10**
**400**
**129**
**21,939**
**516**
**19,914**
**20,430**
**1,509**
**3,212**
**4,721**
**4,721**
**912**
**94**
**5,727**
**47,983**
**53,710**|_Total_
_Funds_
_2020_
£'000
_18,479_
_1,031_
_1,827_
_27_
_453_
_276_| |---|---|---| |||_22,093_| |||_575_
_19,943_| |||_20,518_| |||_1,575_
_600_| |||_2,175_
_2,175_
_(938)_
_193_
_1,430_
_46,553_
_47,983_| ## ## |Notes
**FIXED ASSETS**
Tangible fixed assets
7
Intangible fixed assets
8
Investmentinsubsidiary
9
Investments
9
**CURRENT ASSETS**
Stocks
Debtors
10
Cash at bankandin hand
**CURRENT LIABILITIES**
Creditors: amounts falling due
within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**LONG-TERM LIABILITIES**
Creditors:amountsfalling due after
more than one year
12
**NET ASSETS EXCLUDING**
**PENSION LIABILITY**
Pension scheme liability
18
**NET ASSETS INCLUDING**
**PENSION LIABILITY**
**ENDOWMENT FUNDS**
15&16
**RESTRICTED FUNDS**
15&16
**UNRESTRICTED FUNDS**
Designated funds
15&16
General funds
15&16
**TOTAL FUNDS**||**Group**
**2021**
_2020_
**£'000**
£'000
**26,392**
_24,989_
**17,769**
_17,677_
**44,161**
_42,666_
**174**
_15_
**1,373**
_804_
**15,366**
_12,622_
**16,913**
_13,441_
**(6,091)**
_(5,693)_
**10,822**
_7,748_
**54,983**
_50,414_
**(267)**
_(338)_
**54,716**
_50,076_
**(1,006)**
_(2,093)_
**53,710**
_47,983_|**Group**
**2021**
_2020_
**£'000**
£'000
**26,392**
_24,989_
**17,769**
_17,677_
**44,161**
_42,666_
**174**
_15_
**1,373**
_804_
**15,366**
_12,622_
**16,913**
_13,441_
**(6,091)**
_(5,693)_
**10,822**
_7,748_
**54,983**
_50,414_
**(267)**
_(338)_
**54,716**
_50,076_
**(1,006)**
_(2,093)_
**53,710**
_47,983_|**Group**
**2021**
_2020_
**£'000**
£'000
**26,392**
_24,989_
**17,769**
_17,677_
**44,161**
_42,666_
**174**
_15_
**1,373**
_804_
**15,366**
_12,622_
**16,913**
_13,441_
**(6,091)**
_(5,693)_
**10,822**
_7,748_
**54,983**
_50,414_
**(267)**
_(338)_
**54,716**
_50,076_
**(1,006)**
_(2,093)_
**53,710**
_47,983_|**Charity**
**2021**
**£'000**
**26,392**
**150**
**17,769**
**44,311**
**174**
**1,175**
**15,281**
**16,630**
**(6,091)**
**10,539**
**54,850**
**(267)**
**54,583**
**{1,006)**
**53,577**
_2020_
£'000
_24,989_
_17,677_
_42,666_
_15_
_911_
_12,402_
_13,328_
_(5,693)_
_7,635_
_50,301_
_(338)_
_49,963_
_(2,093)_
_47,870_|**Charity**
**2021**
**£'000**
**26,392**
**150**
**17,769**
**44,311**
**174**
**1,175**
**15,281**
**16,630**
**(6,091)**
**10,539**
**54,850**
**(267)**
**54,583**
**{1,006)**
**53,577**
_2020_
£'000
_24,989_
_17,677_
_42,666_
_15_
_911_
_12,402_
_13,328_
_(5,693)_
_7,635_
_50,301_
_(338)_
_49,963_
_(2,093)_
_47,870_|**Charity**
**2021**
**£'000**
**26,392**
**150**
**17,769**
**44,311**
**174**
**1,175**
**15,281**
**16,630**
**(6,091)**
**10,539**
**54,850**
**(267)**
**54,583**
**{1,006)**
**53,577**
_2020_
£'000
_24,989_
_17,677_
_42,666_
_15_
_911_
_12,402_
_13,328_
_(5,693)_
_7,635_
_50,301_
_(338)_
_49,963_
_(2,093)_
_47,870_|**Charity**
**2021**
**£'000**
**26,392**
**150**
**17,769**
**44,311**
**174**
**1,175**
**15,281**
**16,630**
**(6,091)**
**10,539**
**54,850**
**(267)**
**54,583**
**{1,006)**
**53,577**
_2020_
£'000
_24,989_
_17,677_
_42,666_
_15_
_911_
_12,402_
_13,328_
_(5,693)_
_7,635_
_50,301_
_(338)_
_49,963_
_(2,093)_
_47,870_| |---|---|---|---|---|---|---|---|---| |||||||||| |||||||||| |||||||||| |||||||||| |||||||||| |||**13,101**
**6,150**
**32,511**
**1,948**
**53,710**||_10,832_
_5,422_
_29,989_
_1,740_
_47,983_|**13,101**
**6,150**
**32,511**
**1,815**
**53,577**|||_10,832_
_5,422_
_29,989_
_1,627_
_47,870_| |||||||||| ## |Notes
**NET CASH FLOWS FROM OPERATIONS**
Net cash provided/(used) by operating activities
19
**CASH FLOWS FROM INVESTING ACTIVITIES**
Investment income and bank interest received
Investment management charges
Purchase of tangible fixed assets
Withdrawals from investments portfolio
Proceeds from the sale of tangible fixed assets
Purchase of investments
**Net cash provided/(used)ininvesting activities**
**CASH FLOWS FROM FINANCING ACTIVITIES**
Receipt of endowment
**Net cash providedbyfinancing activities**
Changeincash and cash equivalentsinthe year
Cash and cash equivalents brought forward
**Cash and cash equivalents carried forward**
20||**£'000**
**125**
**(91)**
**(3,042)**
**8,781**
**(5,567)**
**28**
**2021**
**£'000**
**2,510**
**206**
**28**
**2,744**
**12,622**
**15,366**||_2020_
£'000
_(1,453)_| |---|---|---|---|---| |||||_302_
_(79)_
_(3,440)_
_4,342_
_2_
_(2,524}_| |||||_(1,397}_| |||||_562_| |||||_562_| |||||_(2,288)_| |||||_14,910_
_12,622_| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |**SCHOOLFEES**||| |---|---|---| |The school's fee income comprised:
Gross fees
Less: total bursaries, scholarships and allowances
Add : bursaries and other awards paid for by restricted funds|**Group**
**2021**
**£'000**
**20,201**
**(2,322)**
**17,879**
**1,436**
**19,315**|
_2020_
£'000
_19,288_
_(2,218)_| |||_17,070_
_1,409_| |||_18,479_| ## ||**Group**|| |---|---|---| ||**2021**|_2020_| ||**£'000**|£'000| |Grants and donations include:||| |Donations|**750**|_1,165_| |Legacies|**2**|_10_| |Trusts and Foundations|**445**|_303_| |Corporate donations|**1**|_26_| |Government Job Retention Scheme grant|**1**|_323_| ||**1,1 99**|_1,827_| ## |**Raising funds:**
Financing
Fundraising
Investment management
International schools
**Charitable activities:**
Education
Welfare
Premises
Support costs and governance
Grants, awards and prizes
Ancillary trading costs
Total Group expenditure|Staff
Amortisation and
Other costs
costs
Depreciation
£'000
£'000
£'000
37
159
17
91
199
13
358
158
9,815
65
1,531
779
396
787
1,518
1,298
1,569
400
1,440
316
12,950
1,583
5,381
**13,308**
**1,583**
**5,539**|**Total**
**2021**
**£'000**
**37**
**176**
**91**
**212**
**516**
**11,411**
**1,175**
**3,603**
**1,969**
**1,440**
**316**
**19,914**
**20,430**|_Total_
_2020_
£'000
_30_
_182_
_79_
_284_| |---|---|---|---| ||||575| ||||_11,810_
_1,020_
_3,655_
_1,791_
_1,410_
_257_| ||||_19,943_| ||||_20,518_| ## |**Raising funds:**
Financing
Fundraising
Investment management
International Schools
**Charitable activities:**
Education
Welfare
Premises
Support costs and governance
Grants, awards and prizes
Ancillary trading costs
Total Group expenditure|_Staff_
_Amortisation and_
_Other costs_
_costs_
_Depreciation_
£'000
£'000
£'000
_30_
_162_
_20_
_79_
_208_
_76_
_370_
_205_
_9,841_
_88_
_1,881_
_663_
_357_
_797_
_1,385_
_1,473_
_1,451_
_340_
_1,410_
_24_
_233_
_12,776_
_1,473_
_5,694_
_13,146_
_1,473_
_5,899_
_Total_
_2020_
£'000
_30_
_182_
_79_
_284_
575
_11,810_
_1,020_
_3,655_
_1,791_
_1,410_
_257_
_19,943_
_20,518_| |---|---| ## |Fees payable (excluding irrecoverable VAT)tothe group's auditor and its
associatesinrespect of:
The auditing of accounts of the group
All other non-audit services not included above
**STAFF COSTS AND GOVERNOR COSTS**
Staff costs for the group wereasfollows:
Wages and salaries
Social security costs
Pension contributions
Peripatetic costs
Medical insurance|**2021**
**£'000**
**25**
**14**
**2021**
**£'000**
**9,968**
**1,139**
**1,895**
**252**
**54**
**13,308**|_2020_
£'000
_25_
_26_
_2020_
£'000
_9,888_
_1,125_
_1,858_
_223_
_52_| |---|---|---| |||_13,146_| ## ||**2021**|_2020_| |---|---|---| |£ 60,000 - £69,999|**34**|_32_| |£ 70,000 - £79,999|**13**|_13_| |£80,000 - £89,999|**3**|_2_| |£ 90,000 - £99,999|**4**|_4_| |£100,000 - £109,999|**2**|_2_| |£150,000 - £159,999|**1**|_1_| |£240,000 - £249,999||_1_| |£250,000 - £259,999|**1**|| ||**2021**|_2020_| |---|---|---| ||**£'000**|£'000| |Aggregate employee benefits of key management personnel|**1,381**|_1,385_| ## |**Group and Charity**
**Cost**
At 1 September 2020
Additions
Transfers
Disposals
At31August2021
**Depreciation**
At 1 September 2020
Charge for the year
Disposals
At31August2021
**Net book value**
At31August2021
At31August 2020|**Assets**
**Charitable**
**under**
**Properties**
**Construction**
**£'000**
**£'000**
29,020
1,488
779
1,512
119
(119)
(83)
**29,835**
**2,881**
6,815
1,075
(28)
**7,862**
**21,973**
**2,881**|**Assets**
**Charitable**
**under**
**Properties**
**Construction**
**£'000**
**£'000**
29,020
1,488
779
1,512
119
(119)
(83)
**29,835**
**2,881**
6,815
1,075
(28)
**7,862**
**21,973**
**2,881**|**Assets**
**Charitable**
**under**
**Properties**
**Construction**
**£'000**
**£'000**
29,020
1,488
779
1,512
119
(119)
(83)
**29,835**
**2,881**
6,815
1,075
(28)
**7,862**
**21,973**
**2,881**|**Assets**
**Charitable**
**under**
**Properties**
**Construction**
**£'000**
**£'000**
29,020
1,488
779
1,512
119
(119)
(83)
**29,835**
**2,881**
6,815
1,075
(28)
**7,862**
**21,973**
**2,881**|**Furniture**
**Fittings and**
**Equipment**
**£'000**
3,236
468
(232)
**3,472**
2,738
146
(232)
**2,652**
**820**|**Furniture**
**Fittings and**
**Equipment**
**£'000**
3,236
468
(232)
**3,472**
2,738
146
(232)
**2,652**
**820**|**IT**
**Equipment**
**£'000**
1,701
283
(168)
**1,816**
903
362
(167)
**1,098**
**718**
_798_||**Total**
**£'000**
**35,445**
**3,042**
**(483)**
**38,004**| |---|---|---|---|---|---|---|---|---|---| ||||||||||**10,456**
**1,583**
**(427)**| ||||||||||**11,612**| ||||||||||**26,392**
_24,989_| ||||_22,205_|_1,488_||_498_|||| ## |**Group and Charity**
**Cost**
At 1 September 2020 and31August 2021
**Amortisation**
At 1 September 2020 and31August2021
**Net book value**
At31August2021
_At31August 2020_|**Computer**
**Software**
**£'000**
**37**|**Computer**
**Software**
**£'000**
**37**| |---|---|---| |||**37**| |||| |||| ## ## |**Group and Charity**||||||||| |---|---|---|---|---|---|---|---|---| |Valuation at 1 September 2020
Additions
Disposal proceeds
Gains on foreign exchange movements
Gains on investments
At31August2021
Historical cost of investments
Investmentinsubsidiary
**DEBTORS**
Fees debtors
Loans to staff
Sundry debtors
Amounts owed by group undertakings
Prepayments and accrued income||**Listed**
**Investments**
**£'000**
13,586
4,904
(5,781)
78
3,212
15,999|||||**Cash**
**£'000**
4,091
663
(3,000)
16
1,770|**Total**
**£'000**
**17,677**
**5,567**
**(8,781)**
**94**
**3,212**| |||||||||**17,769**| |||11 ,219|||||1,770|**12,989**| |||**Group**
**2021**
£
**Group**
**2021**
**£'000**
**39**
**33**
**865**
**436**
**1,373**||
_2020_
£||
|**Charity**
**2021**
_2020_
£
£
**150,001**
_1_|| |||||
_2020_
£'000
_61_
_34_
_404_
_305_||




|**Charity**
**2021**
_2020_
**£'000**
£'000
**39**
_61_
**33**
_34_
**461**
_181_
**239**
_363_
**403**
_272_
**1,175**
_911_|| |||||_804_||||| ## ## ## |**CREDITORS: amounts due within one year**||| |---|---|---| |Trade creditors
Social security and other taxation
Fees receivedinadvance
Refundable deposits (note 13)
Advanced fees scheme (note 13)
Other creditors
Accruals and deferred income|**Group and Charity**
**2021**
2020
**£'000**
£'000
**999**
**294**
**1,057**
**2,873**
**57**
**65**
**746**
_837_
277
777
_2,746_
_85_
_280_
_691_
**6,091**
_5,693_|| |||_5,693_| ## |Fees receivedinadvance
Advanced fees scheme (note 13)
Accruals and deferred income|**Group and Charity**
**2021**
2020
**£'000**
£'000
**158**
**83**
**26**
_155_
_140_
_43_
**267**
_338_|**Group and Charity**
**2021**
2020
**£'000**
£'000
**158**
**83**
**26**
_155_
_140_
_43_
**267**
_338_| |---|---|---| |||_338_| ## ## ## |Within one year
After more than one year:
Between one and two years
Between two and five years
Total|**Group and Charity**
**2021**
_2020_
**£'000**
£'000
**57**
**28**
**55**
**140**
_85_
57
_83_
_225_|**Group and Charity**
**2021**
_2020_
**£'000**
£'000
**57**
**28**
**55**
**140**
_85_
57
_83_
_225_| |---|---|---| |||_225_| |At 1 September 2020
Amounts accrued to contracts
Amounts utilisedinpayment of fees
At31August2021|**Group and Charity**
**2021 **
_2020_
**£'000**
£'000
**225**
**1**
**(86)**
**140**
_330_
_1_
_(106)_
_225_| |---|---| ## |**GROUP FINANCIAL INSTRUMENTS**||| |---|---|---| ||**2021**|_2020_| ||**£'000**|£'000| |Financial assets measured at amortised cost (a)|**16,133**|_13,090_| |Financial assets measured at fair value (b)|**17,769**|_17,677_| |Financial liabilities measured at amortised cost (c)|**(4,749)**|_(4,791)_| ## |Tangible fixed assets
Investments
Net current assets
Long term liabilities and pension deficit|**Unrestricted**
**funds**
**£'000**
26,392
660
8,680
(1 ,273)
**34,459**|**Restricted**
**funds**
**£'000**
4,072
2,078
**6,150**|**Endowment**
**Total**
**funds**
**funds**
**£'000**
**£'000**
**26,392**
13,037
**17,769**
64
**10,822**
**(1,273)**
**13,101**
**53,710**| |---|---|---|---| |Tangible fixed assets
Investments
Net current assets/(liabilities)
Long term liabilities and pension deficit|_Unrestricted_
_funds_
£'000
_24,989_
_3,771_
_5,400_
_(2,431)_
_31,729_|_Restricted_
_funds_
£'000
_3,046_
_2,376_
_5,422_|_Endowment_
_funds_
£'000
_10,860_
_(28)_
_10,832_|_Total_
_funds_
£'000
_24,989_
_17,677_
_7,748_
_(2,431)_
_47,983_| |---|---|---|---|---| ## ## ## |**Endowed funds**
Bursary funds
Prize funds
**Restricted funds**
Foundation bursary funds
Rowan Trust fund
Hardship fund
Partnership/community
Prize funds
Sundry restricted funds
**Unrestricted funds**
General reserves
**Designated funds**
Buildings fund
Hardship fund
Bursaries fund
Partnerships fund
Fixed asset fund
**Total funds**|**At1**
**September**
**2020**
**£'000**
10,823
9
10,832
4,298
849
52
4
92
127
5,422
1,740
5,000
24,989
31,729
**47,983**|**Income**
**£'000**
28
28
1,059
6
4
140
1
50
1,260
20,651
20,651
**21,939**
**Expenditure**
**£'000**
(1,439)
(34)
(53)
(29)
(5)
(32)
(1,592)
(18,829)
(9)
(18,838)
**(20,430)**|**Transfers**
**£'000**
(347)
(347)
347
12
(24)
335
(2,519)
1,000
15
57
56
1,403
12|**Gains**
**£'000**
2,586
2
2,588
509
196
20
725
905
905
**4,218**|**At31**
**August**
**2021**
**£'000**
**13,090**
**11**
**13,101**
**4,774**
**1,017**
**15**
**115**
**108**
**121**
**6,150**
**1,948**
**6,000**
**6**
**57**
**56**
**26,392**
**34,459**
**53,710**| |---|---|---|---|---|---| ## ## ## ## ## |**Endowed funds**
Bursary funds
Prize funds
**Restricted funds**
Foundation bursary funds
Rowan Trust fund
Partnership/community
Prize funds
Sundry restricted funds
**Unrestricted funds**
General reserves
Designated funds -
buildings
Designated fixed asset
fund
**Total funds**|_At1_
_September_
_2019_
£'000
_9,953_
_8_
_9,961_
_4,410_
_814_
_1_
_87_
_141_
_5,453_
_1,627_
_6,500_
_23,012_
_31,139_
_46,553_|_Income_
£'000
_562_
_562_
_894_
_10_
_42_
_1_
_147_
_1,094 _
_20,437_
_20,437_
_22,093_|_Expenditure_
£'000
_(1,457)_
_(32)_
_(39)_
_(1)_
_(58)_
_(1,587)_
_(18,931)_
_(18,931)_
_(20,518)_|_Transfers_
£'000
_(287)_
_(287)_
_361_
_(103)_
_258_
_(448)_
_(1,500)_
_1,977_
_29_|_Gains/_
_(losses)_
£'000
_595_
_1_
_596_
_142_
57
5
_204 _
_(945)_
_(945)_
_(145)_|_At31_
_August_
_2020_
£'000
_10,823_
_9_
_10,832_
_4,350_
_849_
_4_
_92_
_127_
_5,422_
_1,740_
5,000
_24,989_
_31,729_
_47,983_| |---|---|---|---|---|---|---| ## |At31August2021the charitable group had capital commitments as
follows :
Contracted for but not providedinthese financial statements
**2021**
**£'000**
**11,757**|_2020_
£'000
_985_| |---|---| ## ## ## ## ## ## ||**2021**|_2020_| |---|---|---| |Discount rate|**1.60%**|_1.50%_| |Inflation assumption (RPI)|**3.40%**|_3.20%_| |Inflation assumption (CPI)|**3.10%**|2.70%| |Rateofincreaseinsalaries|**3.10%**|2.70%| |5% LPI pension increases|**3.10%**|2.70%| |2.5%LPI pension increases|**2.30%**|_2.20%_| ||**2021**|_2020_| |Assumed life expectancyinyears at age 60:||| |Retiring today - Males|**25.3**|_26.3_| |Retiring today - Females|**29.3**|_28.6_| |Retiringin20 years' time - Males|**26.8**|_27.8_| |Retiringin20years' time - Females|**30.8**|_30.1_| ## |Present value of funded obligations
Fair valueofscheme assets
Net liability
**Changesinthe present value of the defined benefit obligation**
Opening defined benefit obligation
Interest cost
Actuarial (gains )/losses
Benefits paid (excluding expenses)
Closing defined benefit obligation
**Changesinthe fair value of the scheme assets**
Opening fair valueofscheme assets
Interest income
Expected returnonscheme assets
Benefits paid
Contributionsbyemployer
Expenses paid
Closing fair value of scheme assets
**The amounts included within the StatementofFinancial Activities**
Service cost - administrative costs
Net interestonthe net defined benefit liability
Total chargedtothe Statement of Financial Activities
Net actuarial (gains)/losses recognisedinthe year
Returnonassets, excluding interest income
Pension scheme actuarial (gains)/losses|**2021**
**£'000**
**(7,729)**
**6,723**
**(1,006)**
**2021**
**£000**
**8,039**
**119**
**(192)**
**(237)**
**7,729**
**2021**
**£'000**
**5,946**
**89**
**720**
**(237)**
**283**
**(78)**
**6,723**
**2021**
**£'000**
**78**
**30**
**108**
**(192)**
**(720)**
**(912)**|_2020_
_£'000_
_(8,039)_
_5,946_
_(2,093)_| |---|---|---| |||_2020_
_£000_
_7,486_
_125_
_661_
_(233)_
_8,039_| |||_2020_
_£'000_
_6,122_
_104_
_(277)_
_(233)_
_283_
_(53)_
_5,946_| |||_2020_
_£'000_
_53_
_21_
_74_| |||_661_
_277_
_938_| ## |**The major categories of scheme assetsare:**|**Value at**|_Value at_| |---|---|---| ||**31August2021**|_31August 2020_| ||**£'000**|£'000| |Absolute return fund|**3,171**|_2,990_| |Equities|**3,399**|_2,764_| |Secured pensions|**130**|_178_| |Cash and other assets|**23**|_14_| |Fair valueofscheme assets|**6,723**|_5,946_| ## |Net income for the year
Non-operating cash flows eliminated:
- Investment income
- Endowment donations
- Investment management charges
Defined benefit pension scheme adjustments
Depreciation and amortisation charge
Loss/(profit) from the disposaloftangiblefixedassets
(lncrease)/decreaseinstocks
Increaseindebtors
Decrease in advanced fee scheme creditors
Increaseinrefundable deposits
lncrease/(decrease)increditors (excluding advanced fee
scheme and deposits)
Net cash inflow/( outflow) from operations|**Group**
**2021**
_2020_
**£'000**
£'000
**1,509**
**(129)**
**(28)**
**91**
**(175)**
**1,583**
**56**
**(159)**
**(565)**
**(85)**
**127**
**285**
**2,510**
_1,575_
_(276)_
_(562)_
_79_
_(209)_
_1,473_
_(2)_
_117_
_(209)_
_(105)_
_172_
_(3,506)_
_(1,453)_|**Group**
**2021**
_2020_
**£'000**
£'000
**1,509**
**(129)**
**(28)**
**91**
**(175)**
**1,583**
**56**
**(159)**
**(565)**
**(85)**
**127**
**285**
**2,510**
_1,575_
_(276)_
_(562)_
_79_
_(209)_
_1,473_
_(2)_
_117_
_(209)_
_(105)_
_172_
_(3,506)_
_(1,453)_| |---|---|---| |||_(1,453)_| ## |Cash at bank
Deposits
Total|**Group**
**2021**
**£'000**
**7,365**
**8,001**
**15,366**|
_2020_
£'000
_4,622_
_8,000_| |---|---|---| |||_12,622_| ## |Within one year
Between one and five years|**2021**
**£'000**
**64**
**64**
**128**|_2020_
£'000
_83_
_52_| |---|---|---| |||_135_| ## ## ## |**Unrestricted**
**Restricted**
**Endowment**
**Funds**
**Funds**
**Funds**
**£'000**
**£'000**
**£'000**
**Income and endowments from:**
**Charitable activities**
School fees
18,479
Other educational income
1,031
**Voluntary sources**
Grants and donations
337
928
562
**Trading activities**
Non-ancillary trading income
27
International schools
453
**Investments**
Investment income
110
166
**Total income and endowments**
**20,437**
**1,094**
**562**
**Expenditure on:**
Raising funds
495
80
Charitable activities
18,436
1,507
**Total expenditure**
**18,931**
**1,587**
**Net income before investment**
**gains/(losses)**
**1,506**
**(493)**
**562**
Net gains/(losses)oninvestments
(7)
162
445
**Net income before transfers**
**1,499**
**(331)**
**1,007**
Transfers between funds
29
258
(287)
**Net income before other**
**recognised gains and losses**
**1,528**
**(73)**
**720**
Pensionscheme actuarial loss
(938)
Gains/(losses)onforeign exchange
movements
42
151
**Net movementinfunds**
**590**
**(31)**
**871**
Reconciliation of funds:
Total funds brought forward
31,139
5,453
9,961
**Total funds carried forward**
**31,729**
**5,422**
**10,832**|**Total**
**Funds**
**2020**
**£'000**
**18,479**
**1,031**
**1,827**
**27**
**453**
**276**
**22,093**
**575**
**19,943**
**20,518**
**1,575**
**600**
**2,175**
**2,175**
**(938)**
**193**
**1,430**
**46,553**
**47,983**|_Total_
_Funds_
_2019_
£'000
_18,128_
_1,253_
_1,794_
_44_
_249_| |---|---|---| |||_21,468_| |||_287_
_19,426_| |||_19,713_| |||_1,755_
_614_
_2,369_
_2,369_
_(635)_
_(162)_
_1,572_
_44,981_
_46,553_|