2021-08-31-accounts - Chafyn Grove School

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		CHAFYN	GROVE	GROVE	GROVE	S HOOL	S HOOL	S HOOL
		LIMITED	BYGUARA				TEE
		GOVERNORS' REP		RT		AND	ACCOU			T
		RTHE YEAR	END		D	I		UST		2021
Governors:		*/+ Mm H RLello			(Chairman)
		+ TYGriffiths Esq *N Jones Esq			(Vice Chairman)
		+/ M Mortimer Esq
		/ M RD Roller Esq M EC Wordsworth	Esq
		+/ Mrs A Perry
		* Mrs D L Coveney
		Mrs SL Pitcairn								(Appointed		I December 2020)
		' denotes a member ofthe		Finance Committee
		+denotes amember ofthe		Education			Committee
		/ denotes a member of	the Governance				&	Nominations			Committee
Officers
lleadmaster:		SHead Esq
Bursar and
Clerk to the	Governors	Mrs M L Davies
Address:		Bourne Avenue
		Salisbury
		Wiltshire SPI ILR
Advisers
Bankem:		Lloyds TSBpic, 38 Blue			Boar Row,			Salisbury SPI			I	DB
Auditotsn		Fletcher &Partners, Crown				Chambers,			Bridge Street,			Salisbury	SPI 2LZ
Registered	Numbers
Charity No:		1119907
Company No:		06267911

		General	Designated	Restricted	Endowment	Total	Total
	Note	Fund	Fund	Fund	Fund	2021	2020
INCOME FROM:
Grants and donations	2	19,001				19,001	245,777
Charitable activity-
Operation ofthe school
School fees		2,467,173				2,467,173	2,610,070
Pupils' extras		252,103				252,103	177,285
Other income		4,000				4,000	4,231
Other trading activities Lettings		35,441				35.441	31,522
School shop sales Investments		5,015 I				5,015 I	29,428 817
Other
Profit on disposal ofassets		1,400				1,400
Total		2,784,134				2,784,134	3,099,130
EXPENDITURE ON:
Raising funds		8,063				8,063	37,992
Charitable activity
Costs ofoperation ofthe school		2,803,937			94,815	2,898,752	3,270,526
		2,812,000			94,815	2,906,815	3,308,518
Net (expenditure) before gains
on investments		(27,866)			(94,815)	(122,681)	(209,388)
Net gains on investments Realised							384
Nct (expenditure)		(27,866)			(94,815)	(122,681)	(209,004)
Transfers between funds	13	(24,215)			24,215
Net movement ln funds		(52,081)			(70,600)	(122,681)	(209,004)
Total funds brought forward	19	622,536	62,909	6,817	3,021,860	3,714,122	3,923,126
Total funds carried forward		f570,455	f62,909	f6,817	82,951,260	83,591,441	f3,714,122

			The Group	The Group	The Company	The Company
		Note	2021	2020	2021	2020
INCOME
School fees		lc	2,719,276	2,787,355	2,719,276	2,787,355
Lettings			35,441	31,522	30,572	32,672
School shop sales			5,015	29,428
Grants and donations			19,001	245,777	19,001	245,777
Other income			4,000	4,231	4,000	4,231
Gains on investments				384		384
Interest and investment	income		I	817	I	817
Profit on the sale offixed assets			1,400		1,400
			2,784,134	3,099,514	2,774,250	3,071,236
EXPENDITURE
Staffcosts		5	2,137,147	2,536,042	2,132,835	2,522,012
Other external charges			603,043	604,281	597,870	579,222
Interest payable and similar charges		3	13,307	15,809	13,307	15,809
Depreciation oftangible	fixed assets		153,318	152,386	153,318	152,386
			2,906,815	3,308,518	2,897,330	3,269,429
TOTAL NET (EXPENDITURE)
FOR THE FINANCIAL YEAR			(122,681)	(209,004)	(123,080)	(198,193)
Borne from endowment funds			94,815	94,774	94,815	94,774
NET (EXPENDITURE)
FOR THE FINANCIAL YEAR			($27,866)	(f.114,230)	(f28,265)	(f103,419)

				The Group	The Group	The Company	The Company
				2021	2020	2021	2020
FIXEDASSETS
Tangible fixed assets			6	4,477,963	4,598,630	4,477,963	4,598,630
Investments			7			I	I
				4,477,963	4,598,630	4,477,964	4,598,631
CURRENT ASSETS
Stock				2,661	6,151	1,303	1,060
Debtors			8	127,880	129,618	166,191	164,303
Cash at bank and in hand				39,560	38,612	1,231	16,403
				170,101	174,381	168,725	181,766
CREDITORS: Amounts	falling	due
within one year				693,673	621,172	681,884	617,744
NET CURRENT ASSETS/(LIABILITIES)				(523,572)	(446,791)	(513,159)	(435,978)
TOTAL ASSETSLESSCURRENT LIABILITIES				3,954,391	4,151,839	3,964,805	4,162,653
CREDITORS: Amounts	falling	due
after niore than one year			10	362,724	434,402	362,724	434,402
PROVISIONS FOR LIABILITIES			12	226	3,315	226	3,315
NET ASSETS				K3,591,441	f3,714,122	K3,601,855	K3,724,936
CAPITAL AND RESERVES
Endowment Fund			13	2,951,260	3,021,860	2,951,260	3,021,860
Designated Funds			14	62,909	62,909	62,909	62,909
Restricted Funds			15	6,817	6,817	6,817	6,817
General Fund:
Income and Expenditure		Account		570,455	622,536	580,869	633,350
TOTAL CAPITAL AND	RESERVES			f3,591,441	K3,714,122	K3,601,855	f3,724,936

		Note	2021	2021			2020	2020
CASH FLOWS FROM OPERATING	ACTIVITIES
Net cash (used in)
opeiating activities		a			(89,752)			(42,310)
CASH FLOWS FROM INVESTING	ACTIVITIES
Dividends and interest fiom investments							817
Proceeds from the sale ofproperty,
plant and equipment			1,400
Purchase ofproperty, plant and equipment			(32,651)				(42,134)
Net cash (used in)
investing activities					(31,250)			(41,317)
CASH FLOWS FROM FINANCING	ACTIVITIES
Repayment ofbank loans			(48,430)				(46,444)
Interest paid			(16,396)				(21,084)
Net cash (used in)
financing activities					(64,826)			(67,528)
CHANGE IN CASH AND CASH EQUIVALENTS
IN THE REPORTING PERIOD		b		(XI85,828)				(f151,155)
NOTES TO THE CASH FLOW STATEMENT
Reconciliation ofnet (expenditure)
with net cash flow from operating		activities			2021			2020
Net (expenditure) for the reporting	period
(as per the statement offinancial activities)					(122,681)			(209,004)
Adjustments for:
Depreciation and impairment charges					153,318			152,386
(Gains) on investments								(384)
Dividends and interest from investments					(I)			(817)
Interest paid					16,396			21,084
(Profit) on disposal offixed assets					(1,400)
Decrease in stock					3,490			16,296
Decrease/(increase) in debtors					1,738			(22,371)
(Decrease)/increase in creditors					(137,523)			5,774
(Decrease) in provisions					(3,089)			(5,274)
Net cash flow (used in) operating activities					(889,752)			(f42,310)
Analysis ofchanges in net debt		A	1.9.2tl	C	h tl	~thh	h	A 31.8.21
Cash at bank and in hand including	overdratls		38,612		(185,828)			(147,216)
Debt due within one year			(52,146)		48,430		(50,461)	(54,177)
Debt due after more than one year		(334,169)					50,461	(283,708)
		X(347,703)		g(137,398)				g(485,101)

2.	GRANTS AND	DONATIONS
										2021		2020
	Government Grants - Coronavirus			Job Retention Scheme						14,790		231,355
	Donations									4,211		14,422
										f 19,001		f245,777
3.	ANALYSIS OF	TOTAL EXPENDITURE 2 ffC«D~ii					00	C «T		12021	T	12020
	Raising funds
	School Shop cost ofsales			4,312				3,751		8,063		37,992
	Charitable activity-operation		of	the school
	Direct costs:
	Teaching staff			1,452,735						1,452,735	1,763,042
	Educational costs							62,687		62,687		70,742
	Cost ofextras			99,754				115,335		215,089		167,296
	Household			276,807				165,549		442,356		460,879
	Establishment			85,835		153,318		125,871		365,024		405,458
				1,915,131		153,318	469,442		2,537,891		2,867,417
	Support costs ofschooling:
	School administration			195,934				111,048		306,982		322,784
	Interest payable							13,307		13,307		15,809
	Governance	costs (note 4)		21,770				18,802		40,572		64,516
				217,704				143,157		360,861		403,109
	Costs ofoperation	ofthe school		2,132,835		153,318		612,599	2,898,752		3,270,526
				f2,137,147	f153,318		f616,350		f2,906,815		f3,308,518

				2021	2020
Staffcosts				21,770	22,386
Legal and	professional	fees		10,486	34,030
Auditors'	remuneration:		Audit	8,316	8,100
			Other seivices
				840,572	f64,516

STAFF COSTS
	2021	2020
Wages and salaries	1,809,421	2,043,864
Social security costs	144,282	170,400
Pension costs	183,444	321,778
	f2,137,147	f2,536,042

The	number ofemployees	whose emoluments	(excluding	pension contributions)	exceeded f60,000 were:	exceeded f60,000 were:
					2021	~22
	f80,000 - f90,000				I	I
For	this one employee (2020:one), retirement		benefits are acciuing	in the Teachers' Pension Scheme.
The	contributions amounted	to:			f14,299	f21,013

average nu	mbers ofemp	loyee	s (some part time only), analysed by f	unction, were:
					2tt2l
Teaching				36	43
Household,	establishment	and	administration	34	38
Peripatetics				12	13
				82	94

TANGIBLE FIXEDASS	ETS(COMPAN	Y AND GROU	P)
	Freehold
	Land and ~lid'	Temporary ~BEB	Motor Vehicles	Sports F IIII	Furniture dt'd ~E	Total
COST
At I September 2020	6,157,812	56,538	122,204	488,872	829,515	7,654,941
Additions					32,651	32,651
Disposals					(12,000)	(12,000)
At 31 August 2021	6,157,812	56,538	122,204	488,872	850,166	7,675,592
DEPRECIATION
At I September 2020	1,681,863	56,538	122,204	453,234	742,472	3,056,311
Charge for the year	111,483			13,125	28,710	153,318
Disposals					(12,000)	(12,000)
At 31 August 2021	1,793,346	56,538	122,204	466,359	759,182	3,197,629
NET BOOK VALUE
At 31 August 2021	f4,364,466	f,-	f-	f22,513	f90,984	f4,477,963
At 31August 2020	f4,475,949			f35,638	f87,043	f4,598,630

Investment
ha	Total
f.I	f.I

	Investment income	consists of;-	consists of;-			2021	2020
	Dividends receivable		on UK listed securities				522
	Interest receivable	on	cash deposits				295
						Kl	f817
8.	DEBTORS			The	Group	The Company
				2021	2020	2021	2020
	Fees and extras			69,849	41,591	69,849	41,591
	Prepayments			19,413	16,910	19,413	16,910
	Amount due from	subsidiary				49,101	38,822
	Other debtom			38,618	71,117	27,828	66,980
				K127,880	8129,618	f.166,191	f.164,303

CREDITORS:	Amounts	falling due wi	thin one year
			The	Group	The Company
			2021	2020	2021	2020
Bank loans (note 10)			54,177	52,146	54,177	52,146
Bank overdratt			186,776		186,776
Fees and extras	received	in advance	287,631	272,279	287,631	272,279
Trade creditors			80,351	143,039	71,628	140,361
Social security	and other	taxation	36,710	41,516	36,710	41,516
Accruals			48,028	112,192	44,962	111,442
			f693,673	6621,172	f681,884	f617,744


10.	CREDITORS: Amounts	falling due after			more than one year (Company				and Group)
										2021	2020
	Fees and deposits received		in advance							79,016	100,233
	Bank loans									283,708	334,169
										f362,724	f434,402
	The bank loans aie secured		by legal charges		over the school's freehold property.
	These loans are repayable as follows:									2021	2020
	Within one year									54,177	52,146
	Between one and two yeatu									52,566	50,691
	Between two and five years									169,306	163,235
	In more than five years									61,836	120,243
										8337,885	8386,315
	The school has entered into		an interest	rate swap and fixed rate				loan agreements		so as to fix the interest rates
	on these loans as follows:
										2021	2020
	Fixed at 4.525'/s		until 29 September			2022				195,353	222,556
	Floating at base		plus 2.25a o							142,532	163,759
										8337,885	8386,315
11.	DEFERRED INCOME
										2021	2020
	Brought foiward at 1 September 2020									276,775	340,994
	Released in the year									(265,779)	(324,311)
	Deferred in the year									266,845	260,092
	Carried forward at 31 August 2021									8277,841	8276,775
	Defeived income ivpresents		pupil fees reccivcd			in advance	for future yemu.
12.	PROVISIONS FOR LIABILITIES AND CHARGES										Interest
											~rate swa
	Brought forward provisions		at 1 September 2020								3,315
	Additions
	Amounts charged against provision										(3,089)
	Carried forward provisions		at 31August	2021							f226
	Details ofinterest arrangements are disclosed				in	note 9.
13.	ENDOWMENT FUND
							Income/			Transfer from
				At	1.9.20		~Ex	nditure)		General Fund	At 31.8.21
	The Galloway Bumary fund				7,544						7,544
	Capital Account			75,585							75,585
	Accumulated Reserves			2,938,731				(94,815)		24,215	2,868,131
				f3,021,860			f(94,815)			824,215	82,951,260

			As at 1.9.20	Income	~230	~230	33.3.23
Scotia-Bursary Fund			36,207				36,207
M Galloway Fund			24,967				24,967
Miss Mills Memorial	Fund		1,735				1,735
			f62,909				f62,909
RESTRICTED FUND
			At 1.9.20	Income	~E*	d	At 31.8.21
The Buckley Bursary	Fund		1,694				1,694
The Galloway Bursary	fund		5,123				5,123
			f6,817				f6,817
These bursary funds are for the purposes ofrelieving			hardship.
ANALYSIS OF NET ASSETSBETWEEN FUNDS
		Geneml	Designated	Restricted	Endowment		Total
		Fund	Fund	Fund		Fund	Funds
Land and buildings		1,251,807			3,112,659		4,364,466
Other tangible fixed assets		113,497					113,497
Current assets		92,830	62,909	6,817		7,545	170,101
Current liabilities		(666,583)				(27,090)	(693,673)
Long term liabilities		(220,870)				(141,854)	(362,724)
Provisions for liabilities		(226)					(226)
		f570,455	f62,909	f6,817	f2,951,260		f3,591,441

				2021	2020
Amounts	due	within one year		19,076	14,353
Amounts	due	between	two and five years	16,893	24,626
				f35,969	f38,979

18.COMPARATIVE FUND MOVEMENT FOR THK YEAR ENDED 31 AUGUST	S 2020
	General	Designated	Restricted	Endowment	Total
	Fund	Fund	Fund	Fund	2020
INCOME FROM:
Grants and donations	245,777				245,777
Charitable activlty-
Operatlon ofthe school
School fees	2,610,070				2,610,070
Pupils' extras	177,285				177,285
Other income	4,231				4,231
Other trading activities
Lettings	31,522				31,522
School shop sales	29,428				29,428
Investments	817				817
Total	3,099,130				3,099,130
EXPENDITURE ON:
Raising funds	37,992				37,992
Charitable activity
Costs ofoperation ofthe school	3,175,711			94,815	3,270,526
	3,213,703			94,815	3,308,518
Net (expenditure) before gains
on investments	(114,573)			(94,815)	(209,388)
Net gains on investments
Realised		343		41	384
Net laconic/(expenditure)	(114,573)	343		(94,774)	(209,004)
Transfers between funds	(23,222)			23,222
Net movement in funds	(137,795)	343		(71,552)	(209,004)
Total 1'unde brought forward	760,331	62,566	6,817	3,093,412	3,923,126
Total funds carried forward	8622,536	f62,909	f6,817	f3,021,860	f3,714,122
19.COMPARATIVE ANALYSIS OF NKT	ASSETSBETWEEN FUNDS
AS AT31AUGUST 2020
	General	Designated	Restricted	Endowment	Total
	Fund	Fund	Fund	Fund	Funds
Land and buildings	1,268,475			3,207,474	4,475,949
Other tangible fixed assets	122,681				122,681
Current assets	97,110	62,909	6,817	7,545	174,381
Current liabilities	(595,098)			(26,074)	(621,172)
Long term liabilities	(267,317)			(167,085)	(434,402)
Provisions for liabilities	(3315)				(3315)
	f622,536	f62,909	X6,817	f3,021,860	f3,714,122