## ## |||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| ## ## |The|average numbers ofemployees|average numbers ofemployees|average numbers ofemployees|(some part time only), analysed|by function, were.|'|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|