2022-08-31-accounts - Chafyn Grove School

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		C YNGRO	C YNGRO	ESC	ESC	L
		TEDBYGUARANTEE
		GOVERNORS' REPORT AND ACCOUNTS
		FOR THE YEAR ENDED 3			AUGUST			2022
Governors:		*/+ Mrs H RLello		(Chahmani
		+ T Y Griffiths Esq *N Jones Esq		(Vice	Chahmani
		+/ M Mortimer Esq
		/ M RD Roller Esq ME C Wordsworth	Esq					(Resigned		15 March 2022)
		+/ Mrs A Perry * Mrs D L Coveney
		Mrs SLPitcaim
		*denotes a member ofthe Finance			Committee
		+denotes a member ofthe Education				Committee
		/ denotes a member ofthe Goveraance				StNomiuations			Committee
Otttcers
Headmaster:		S Head Esq
Bursar and
Clerk to thc	Governors	Mrs M LDavies
Address:		Bourne Avenue
		Salisbuty
		Wiltshhe SP1 1LR
Advisers
Bankers:		Lloyds TSBpic, 38	Blue	Boar	Row, Salisbury SP1 1DB
Auditors:		Fletcher Jk Partners,	Cmwn Chambers,				Bridge Street, Salisbury SPI 2LZ
Registered	Numbers
Charity No:		1119907
Company No:		06267911

		Note	General Fund	Designated Fund	Restricted Fund	Endowment Fund	Total 2022	Total 2021
INCOME FROM:
Grauts and donations			4,996		1,100		6096	19001
Charitable activity-
Operation ofthe school School fees Pupils' extras Other income			2,633,879 301,534 5,400				2,633,879 301,534 5,400	2,467, 173 252,103 4,000
Other trading activities Lettmgs School shop sales Investments			82,710 5,054 51				82,710 5,054 51	35,441 5,015
Other Profit on disposal of assets			498,587				498,587	1,400
Total			3,532,211		1,100		3 533 311	2 784 134
EXPENDITURE ON:
Raising funds			5,499				5,499	8,063
Charitable activity Costs ofoperation of the	school		3,061,457		1,100	94,854	3,157,411	2,898,752
			3,066,956		1,100	94,854	3,162,910	2,906,815
Net income / (expenditure) on investments	before	gains	465,255			(94,854)	370,401	(122,681)
Net gains on invesnnents
Realised
Net Income / (expenditure)			465,255			(94,854)	370,401	(122,681)
Transfers between funds		13	21,634	(62,909)	(6,817)	48,092
Net movement in funds			486,889	(62,909)	(6,817)	(46,762)	370,401	(122,68I)
Total funds brought forward		19	570,455	62,909	6,817	2,951,260	3,591,441	3,714,122.
Total funds carried forward			61,057,344			f2,904,498	63,961,842	83,591,441

		The Group	The Group	The Company	The Company
	Note	2022	2021	2022	2021
INCOME School fees Lettings School shop sales	1c	2,935,413 82,710 5,054	2,719,276 35,441 5,015	2,935,413 65,840	2,719,276 30,572
Gift aid fiom Chafyn Grove School Enterprises Limited Grants and donations Other income	2	6,096 5,400	19,001 4,000	4,467 6,096 5,400	19,001 4,000
Interest and investment income Profit on the sale of fixed assets	7	51 498,587	1 1,400	51 498,587	1 1,400
		3,533,311	2,784,134	3,515,854	2,774,250
EXPENDITURE Stafi'costs Other external charges Interest payable and similar charges Depreciation oftangible fixed assets	5 3	2,247,490 733,515 13,884 168,021	2,137,147 603,043 13,307 153,318	2,242,816 730,978 13,884 168,021	2332,835 597,870 13,307 153,318
		3,162,910	2,906,815	3,155,699	2,897,330
TOTAL NET INCOME / (EXPENDITURE) FORTHE FINANCIAL YEAR		370,401	(122,681)	360 155	(123080)
Borne from endowment funds		94,854	94,815	94,854	94,815
NET INCOME / (EXPENDITURE) FOR THE FINANCIAL YEAR		f465,255	(f27,866)	f455,009	(f28,265)

			The Group	The Group	The Company	The Company
		Note	2022	2021	2022	2021
FIXEDASSETS Tangible fixed assets Investments		6 7	4,429,082	4,477,963	4,429,082 1	4,477,963 1
			4,429,082	4,477,963	4,429,083	4,477,964
CURRENT ASSETS Stock Debtors Cash at bank and in hand		8	4,192 173,166 324,727	2,661 127,880 39)560	3 275 209,279 253 160	1303 166,191 1231
			502,085	170,101	465,714	168,725
CREDITORS: Amounts falling within one year	duc		621,684	693,673	585 314	681 884
NET CURRENT (LIABILITIES)			(119,599)	(523,572)	(119,600)	(513,159)
TOTAL ASSETS LESSCURRENT LIABILITIES			4,309,483	3,954,391	4,309,483	3,964,805
CREDITORS: Amounts falling after more than one year	due	10	347,641	362,724	347,641	362,724
PROVISIONS FOR LIABILITIES		12		226		226
NET ASSETS			f3,961,842	f3,591,441	f3,961,842	f3,601,855
CAPITAL AND RESERVEiS Endowment Fund Designated Funds Restricted Funds		13 14 15	2,904,498 -	2,951,260 62,909 6,817	2,904,498 -	2,951,260 62 f109 6,817
General Fund: Income and Expenditure	Account		1,057,344	570,455	1,057,344	580,869
TOTAL CAPITAL AND RESERVES			f3,961,842	f3,591,441	f3,961,842	f3,601,855
Registered Company No: 06267911
The notes on pages 14 to 22 form	part ofthe	accounts.
gib d bl lf fl B d fd
		Mrs H R Lello
APP dbflb f u:..,...8,kklbbfbsAI			2.c&

	Mote	Mote	2022	2022	2021
CASH FLOWS FROM OPERATING ACTIVITIES
	Net cash generated by / (used in) operating activities	a		156,599		(89,752)
CASH FLOWS FROM INVESTING ACTIVITIES
	Interest &om investments		51
	Proceeds &om the sale ofproperty, plant and equipment Purchase ofproperty, plant and equipment		507,565 (128,118)		1,400 (32,651)
	Net cash generated by /(used in) investing activities			379,498		(31,250)
CASH FLOWS FROM FINANCING ACTIVITIES
	Repayment ofbank loans interest paid		(50,044) (14,110)		(48,430) (16,396)
	Net cash (used in) financing activities			(64,154)		(64,826)
CHANGE IN CASH AND CASH EQUIVALENTS
	IN THE REPORTING PERIOD	b		f471,943		EEI85,8283
NOTES TO THE CASH FLOW STATEMENT
a.	Reconciliation ofnet (expenditure) with net cash flow from operating	activities		2022		2021
	Net income / (expenditure) for the reporting period (as per the statement offinancial activities)			370,401		(122,681)
	Adjustments for. Depreciation and impairment charges Interest from investments Interest paid (Profit) on disposal offixed assets Decrease/(increase) iu stock Decrease/(increase) in debtors (Decrease)/increase in creditors (Decrease) in provisions			168,021 (51) 14,110 (498,587) (1,531) (45,286) 149,748 (226)		153,318 (1) 16,396 (1,400) 3,490 1,738 (137,523) (3,089)
	Net cash flow generated by / (used in) operating	activities		f156,599		(f89,752)
b.	Analysis ofchanges ln net cash / (debt)		A 5925	C 8ll	~086	A35822
	Cash at bank and in hand including overdrafls Debt due witlun one year Debt due afler more than one year		(147316) (54,177) (283,708)	471,943 50,044	(38,676) 38,676	324,727 (42,809) (245,032)
			E5685,59ll	6525985	E-	E36 886

				T3	1 AUG T2	022
Z.	GRANTS AND DONATIONS								2022		2021
	Government Grants - Coronavirus		Job Retention Scheme						6,096		14,790 4,211
	Douations
									j6,096		f19,001
3.	ANALYSIS OF TOTAL EXPENDITURE 0 ffC				D~i'	0 I	C	T t 72022		T	12021
	Rnising funds School Shop cost ofsales			4,674			825		5,499		8,063
	Charitable activity-operation	of	the school
	Direct costs: Teaching staff Educational costs Cost ofextras Household Establishment			107,226 309,499 92,428 1,494,265	168,021		60,986 153,637 192,554 170,847	1,494,265 60,986 260,863 502,053 431,296			1,452,735 62,687 215,089 442,356 365,024
				2,003,418	168,021		578,024	2,749,463			2,537,891
	Support costs ofschooling. School administration Interest payable Goveruance costs (note 4)			215,458 23,940			138,224 13,884 16,442		353,682 13,884 40,382		306,982 13,307 40,572
				239,398			168,550		407,948		360,861
	Costs of operation ofthe school			2,242,816	168,021		746,574	3,157,411			2,898,752
				22247490	E162021		E747399	61,162910		E29tl6216
	9761 1 063			' «1	*	109	'1 f	01		p.
	Support costs are the administrative			costs incurred	to enable the	school	to carry out	the	one charitable
	activity.


GOVERNANCE CO	TS		2022	2021
			23,940	21,770
Staffcosts Legal and professional Auditors' remuneration'.	fees	Audit	7,832 8,610	10,486 8,316
		Other services
			f40,382	f40,572


STAFF COSTS	2022	2021
Wages and salaries	1,904,551 161,102	1,809,421 144,282
Social security costs	181,837	183,444
Pension costs
	K2,247,490	I2,137,147

average numbers ofemployees	average numbers ofemployees	average numbers ofemployees	(some part time only), analysed	2022	2021
Teaching				34	36
Household,	establishnent	and	administration	36	34
Peripatetics				10	12
				80	82

INVESTMENT I	NCOME
Investment income	consists of:-
Interest receivable	on cash deposits

2022	2021
f51	f.l
Investment
0 4	Total

	A summary ofi	ts tr	ading results is s	hown	bel	o	w, Audited a	cco	un	s ave een
											2022	2021
											48,148	21,064
	Turnover Cost ofsales										(826)	(3,751)
											47,322	17,313
	Gross profit Administration		expenses (excluding		facility lee payable			to	Chafyn Grove		(7,064)	(5,734)
	Scbool)										40,258	11,579
	Facility fee	due	to Chafyn Grove School								(25,377)	(11,179)
	(eliminated	ou consolidation)
											14,881	400
	Gift aid payable		to Chafyu Grove School								(4,467)
	Taxation
	Profit after	taxatlon and gift aid		retained		by the subsidiary					Kl0,414	fAOO
	The assets	and	liabilities ofChafyn		Grove		Scbool Enterprises			Limited at the
	financial year end were:
		Current assets Creditors: amounts		falling due			within one year				105,858 (105,857)	50,475 (60,888)
											EI	)410,4 13)
	Total net assets
											E1	)E)0,413)
	Aggregate	share capital and reserves
8.	DEBTORS						The Group 2022			2021	The Company 2022 2021
	Fees and extras Prepayments Amount due fi.om Other debtors		subsidiary				77,477 30,001 65,688			69,849 19,413 38,618	77,477 30,001 69,489 32,312	69,849 19,413 49, 101 27,828
							8173,166		f,127 880		f209,279	8166,191

CREDITORS: Amounts falling due ivithin	one year The Gmup 2022	2021			The Company 2022 2021	The Company 2022 2021
Bank loans (note 10) Bank overdraft Fees and extras received in advance Trade creditom Social security and other taxation Accru ala	42,809 373,925 104,228 37,475 63,247	54,177 186,776 287,631 80,351 36,710 48,028			42,809 373,925 72,459 37,475 58,646	54,177 186,776 287,631 71,628 36,710 44,962
	f621,684	f693,673			f585,314	f681,884
0. CREDITORS; Amounts faliing due after	mare than oue	year (Company		and	Group) 2022	2021
Fees and deposits received m advance					102,609 245,032	79,016 283,708
Bank loans
					f347,641	f362,724
The bank loans are secured by legal charges These loans are repayable as follows:	over the school's freehold		property.		2022	2021
					42,809	54,177
Within one year Between one and two years Between two and five yetus In more than five years					54,065 174,525 16,442	52,566 169,306 61,836
					f287,841	f337,885
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. ' Fixed at 4.525% until 29 September 2022¹ Floating at base plus 2.25%					2022 166,788 121,053	2021 195,353 142,532
					E287,843	E337,883
¹Following the end ofthe fixed rate period the loan reverts		to a floating rate ofbase rate plus 1.75%.
11. DEFERRED INCOME					2022	2021
Bmught foiiyard at 1 September 2021					277,841 (277,841)	276,775 (265,779)
Released in the year					376,924	266,845
Deferred in the year
Carried forward at 31 August 2022					f376,924	f277, 841
Deferred income represents pupil fees received in advance		for future	years.
						I~tercet
12. PROVISIONS FOR LIABILITIES AND CHARGES
						226
Brought forward provisions at 1 September 2021
Additions						(226)
Amouuts charged against provision
Camed fotward provisions at 31 August 2022

' -2022
ENDO/ifMKNT FUND	A 1.921	Income/ ~Ch	)	Transfer I'rota 0 19 dd		A 31.822
The Galloway Bursary fund Capital Account Accumulated Reserves	7,544 75,585 2,868,131	(94,854)			48,092	7,544 75,585 2,821,369
	E2 951,260	E394,854)			848,092	f2,904,498

ENDOWMENTFUND-20ZI
3.2				Income/		TransferPom
		4«1.9.20				General Fund	As	at 31.8.21
The Galloway Bursary fund Capita/ Accoimt Accumulated Reserves		7,544 75,565 2,938,731			(94,8/5)	24,215		7,544 75,585 2,868,131
		43	023 860	EE94835)		424 235		E2951260
14.1 DEISIGNATKD FUNDS - ZOZ2		A	1.9.21	Income/ ~E* Ch		Transfer to General Fund	As at 31,8.22
Scotia-Bursary Fund M Galloway Fund Miss Mills Memorial Fund			36,207 24,967 1,735			(36,207) (24,967) (1,735)
14.2DESIGNATED FUNDS -20ZI		As	E62,909 at 1.9.20		~ Income	362,909) ~ECh	4	31821..
Scotia-Bursa)y Fund M Galloway Fund Miss Mills Memorial Fund			36,207 24,9o7 I,735					36,207 24,967 I,735
			f62 t/09					f62,909
						Transfer to
15.1 RESTRICTED FUND -2022			A 1.9.21	~E*	Ch	General Fund		At 31.8.22
The Buckley Bursary Fund The Galloway Bursary Fund			1,694 5,123			(1,694) (5,123)
Other restricted fiuids
			86,817			36,817)
36a E»k)y dGI) yk *Gf 6 15.Z RESTRICTED FUND - 2021	f	6 pg	f At 1.9.20	lh*' gl dklp. Incohne		~Ed* At 31.8.21
77)e Buchtey Bursary Fund The Galloway Bursary fimd			I,694 5,123 66,817					1,694 5,123 66,817

ANALYSIS OFNET ASSETS	BET39VEEN FU	NDS -2022
	General	Desiguated	Restricted	Endowment	Total
	Fund	Fund	Fund	Fund	Funds
Land and buildings Other tangible fixed assets Current assets	1,226,482 161,724 494,541			3,040,876 7,544	4,267,358 161,724 502,085
Cttrrent liabiTities Long term liabilities	(600,278) (225,125)			(21,406) (122,516)	(621,684) (347,641)
Provisions for liabilities
	f1,057,344			f2,904,498	f3,961,842
ANALYSIS OFNETASSETS	BETWEEN Ff)NDS- 2021
	General Fund	Designated Fund	Restricted Fmid	Endowment Fund	Total Funds
Land and buildings Other tangible fixed assets Cuirent assets Current liabilities Lang tenn liabilities Provisions for liabilities	1,251,807 113,497 92,830 (666,583) (220,870) (226)	62,909	6,817	3,112,659 7,545 (27,090) (141,854)	4,364,466 113,497 170,101 (693,6'73) (362,724) (226)
	1570,455	f62,909	66617	65931266	63591441

FOR THK AR ENDED	FOR THK AR ENDED	31AUGUST	2022
19.PRIOR YEAR STATEMENT OF FINANCIAL
ACTIVITIES	General Fund	Designated Fund	Restricted Fund	Endowment Fund	Total 2021
INCOME FROM: Grants and donahons	19,001				19,001
Charitable activity-
Operation ofthe school School fees Pupils' extras Other income	2,467,173 252,103 4,000				2,467,173 252,103 4,000
Other trading activities Lettings School shop sales	35,441 5,015				35,441 5,015 1
Investments	1
Other Profit on disposal ofassets Total	1,400 2,784,134				1,400 2,784,134
EXPENDITURE ON: Raising funds	8,063				8,063
Charitable activity Costs ofoperation ofthe school	2,803,937			94,815	2,898,752
	2,812,000			94,815	2,906,815
Net (expenditure) before gains on investments	(27,866)			(94,815)	(122,681)
Net gains on investments
Realised
Net income/(expenditure)	(27,8661			(94,815)	(122681)
Transfers between ftutds	(24,215)			24,215
Net movement in funds	(52,081)			(70,600)	(122,681)
Total funds brought forward	622,536	62,909	6,817	3,021,860	3,714,122
Total funds carried forward	f570,455	E62,909	f6,817	82,951,260	63,591,441