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||||||Page|
|---|---|---|---|---|---|
|Reference and administrative||details|||1-2|
|Trustees'
report|||||3-11|
|Statement oftrustees'|responsibilities||||12|
|Independent
auditors'|report|on the financial|statements||13-16|
|Statement offinancial|activities incorporating||income and expenditure|account|17|
|Balance sheet|||||18|
|Statement ofcash flows|||||19|
|Notes to the financial|statements||||20-41|
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|||2022|2021|
|---|---|---|---|
|Income per pupil||f12,996|f13,443|
|Total staff costs Itotal income||79'/o|78'/o|
|Total expenditure|per pupil|f14,776|f14,571|
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
|||Note|2022
F|2022f|2022
6|2021
6|
|Income from:|||||||
|Donations
and capital grants||3|4,757||4,757|500|
|Investments||5|40,924||40,924|41,930|
|Charitable
activities|||4,482,242|3,020|4,485,262|4,657,466|
|Other income||6|4,485||4,485|5,274|
|Total income|||4,532,408|3,020|4,535,428|4,705,170|
|Expenditure
on:|||||||
|Charitable
activities||7, 8|5,091,218|65,672|5,156,890|5,099,747|
|Total expenditure|||5,091,218|65,672|5,156,890|5,099,747|
|Net expenditure
before net|||||||
|(losses)/gains
on|investments||(558,810)|(62,652)|(621,462)|(394,577)|
|Net (losses)/gains|on investments|15|(14,839)||(14,839)|222,976|
|Net movement
in|funds||(573,649)|(62,652)|(636,301)|(171,601)|
|Reconciliation
of|funds:||||||
|Total funds brought|forward||9,321,687|111,598|9,433,285|9,604,886|
|Net movement
in funds|||(573,649)|(62,652)|(636,301)|(171,601)|
|Total funds carried forward|||8,748,038|48,946|8,796,984|9,433,285|
##
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||||||2022||2021|
|---|---|---|---|---|---|---|---|
||||Note||f.||6|
|Fixed assets||||||||
|Intangible assets|||13||||6,959|
|Tangible assets|||14||7,578,061||7,557,346|
|Investments|||15||1,101,274||1,566,113|
||||||8,679,335||9,130,418|
|Current assets||||||||
|Debtors|||16|457,223||394,470||
|Investments|||17|450,000||||
|Cash at bank and in hand||||298,207||1,145,932||
|||||1,205,430||1,540,402||
|Creditors; amounts|falling|due within one||||||
|year|||18|(788,851)||(847,288)||
|Net current (liabilities) I||assets|||416,579||693,114|
|Total assets less|current|liabilities|||9,095,914||9,823,532|
|Creditors: amounts|falling|due after more||||||
|than one year|||||(298,930)||(390,247)|
|Total assets|||||8,796,984||9,433,285|
|Funds ofthe Charitable||company||||||
|Restricted funds|||20||48,946||111,598|
|Unrestricted
income funds||||||||
|Designated
funds|||20|3,162,416||3,305,280||
|General funds|||20|5,585,622||6,016,407||
|Total unrestricted|income funds||20||8,748,038||9,321,687|
|Total funds|||||8,796,984||9,433,285|
##
|||STATEMENT OF CASH FLOWS|STATEMENT OF CASH FLOWS||||
|---|---|---|---|---|---|---|
||FOR THE YEAR ENDED 31JULY 2022||||||
||||||2022|2021|
|||||Note|6|6|
|Cash flows from operating|activities||||||
|Net cash used
in operating|activities|||22|(715,777)|(61,493)|
|Cash flows from investing|activities|||24|(77,477)|410|
|Cash flows from financing|activities|||23|(54,471)|(55,624)|
|Change
in cash and cash|equivalents|in|the year||(847,725)|(116,707)|
|Cash and cash equivalents|at the beginning||ofthe year||1,145,932|1,262,639|
|Cash and cash equivalents|at the end of||the year|25, 26|298,207|1,145,932|
|The notes on pages 20 to 41 form part||ofthese financial statements|||||
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|timated
u|seful lives are as|follows:|
|---|---|---|
|Freehold|Land|No depreciation|
|Freehold
Building
Office Equipment||100years
3- 10years|
|Academic|Equipment|3 - 10years|
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||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2022f|2022|2021
6|
|Donations|4,757|4,757|500|
|Total 2021|500|500||
##
|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2022f|2022
6|2022|2021
6|
|Tuition fees||||4,659,525||4,659,525|4,823,068|
|Grants, Awards||and Prizes||(562,069)|(54,590)|(616,659)|(662,866)|
|Lunches||||224,891||224,891|189,119|
|Music and Performing|||Arts recharges|159,895||159,895|153,178|
|Coronavirus|Job|Retention Scheme grants|||||63,717|
|Travel fund|recharges||||57,610|57,610|91,250|
|||||4,482,242|3,020|4,485,262|4,657,466|
|Total2021||||4,657,466||4,657,466||
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022f|2022
6|2021f|
|Dividend|income|40,872|40,872|38,617|
|Interest|receivable|52|52|3,313|
|||40,924|40,924|41,930|
|Total20|21|41,930|41,930||
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||||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|
||||||2022f|2022f|2021f|
||Registration|fees|||4,485|4,485|5,274|
||Total 2021||||5,274|5,274||
|7.|Expenditure|||||||
|||||Staff Costs|Other|Total|Total|
|||||2022
6|2022f|2022f|2021f|
||School's educational||operations:|||||
||Direct costs|||2,817,756|1,139,333|3,957,089|4,219,812|
||Allocated support costs|||770,753|429,048|1,199,801|879,935|
|||||3,588,509|1,568,381|5,156,890|5,099,747|
||Total2021|||3,649,357|1,450,390|5,099,747||
##
|||Activities||||
|---|---|---|---|---|---|
|||undertaken|Support|Total|Total|
|||directly|costs|funds|funds|
|||2022|2022|2022|2021|
|||6|6|6|6|
|School's educational|operations|3,957,089|1,199,801|5,156,890|5,099,747|
|Total 2021||4,219,812|879,935|5,099,747||
##
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##
||||||School's|||
|---|---|---|---|---|---|---|---|
||||||educational|Total|Total|
||||||operations|funds|funds|
||||||2022f|2022f|2021f|
|Staff costs|||||2,817,756|2,817,756|3,181,570|
|Depreciation|and amortisation||||104,645|104,645|127,885|
|Other costs|||||1,034,688|1,034,688|910,357|
||||||3,957,089|3,957,089|4,219,812|
|Total 2021|||||4,219,812|4,219,812||
|Analysis of|support||costs|||||
||||||School's|||
||||||educational|Total|Total|
||||||operations|funds|funds|
||||||2022f|2022f|2021
F|
|Staff costs|||||770,753|770,753|467,787|
|Finance costs|||||9,240|9,240|8,451|
|Other administrative|||costs||376,080|376,080|342,945|
|Professional|fees||||43,728|43,728|60,752|
||||||1,199,801|1,199,801|879,935|
|Total 2021|||||879,935|879,935||
|Net expenditure||||||||
|Net expenditure||for|the year includes:|||||
|||||||2022|2021f|
|Operating
lease||rentals||||21,985|12,488|
|Depreciation|oftangible fixed assets|||||97,686|115,982|
|Amortisation|ofintangible|||assets||6,959|11,903|
##
##
||||||2022|2021|
|---|---|---|---|---|---|---|
||||||6||
|Fees payable to the||Charitable|company's|auditor for the audit ofthe|||
|Charitable|company's|annual|accounts||9,350|9,250|
##
##
||2022|2021|
|---|---|---|
|Wages and salaries|2,774,742|2,846,956|
|Social security costs|285,561|271,631|
|Pension costs|528,206|530,770|
||3,588,509|3,649,357|
##
|The average
number of persons employed
by the C|haritable
company
during the year was as f|ollows:|
|---|---|---|
||2022|2021|
||No.|No.|
|Teachers|57|56|
|Administration|10|9|
|Technicians|4|4|
|Cleaning|10|9|
|Maintenance|6|7|
|Music Peris|9|9|
|Teaching
Support|8|7|
||104|101|
##
##
|2022|2021|
|---|---|
|No.|No.|
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##
##
##
|Intangible assets
FOR THE YEAR ENDED 3|1 JULY 2022|
|---|---|
||Software|
||Licences|
|Cost||
|At 1 August 2021|35,708|
|At 31 July 2022|35,708|
|Amortisation||
|At 1 August 2021|28,749|
|Charge for the year|6,959|
|At 31 July 2022|35,708|
|Net book value||
|At 31 July 2022||
|At 31 July 2021|6,959|
##
||Freehold|Furniture
and|Computer|Academic||
|---|---|---|---|---|---|
||property
f|equipment
6|equipment
8|equipmentf|Total
6|
|Cost or valuation||||||
|At 1 August 2021|7,658,801|201,112|102,164|1,143,735|9,105,812|
|Additions|50,137|3,912|64,352||118,401|
|Disposals|||(7,707)|(282,013)|(289,720)|
|At 31 July 2022|7,708,938|205,024|158,809|861,722|8,934,493|
|Depreciation||||||
|At 1 August 2021|278,137|159,127|63,275|1,047,927|1,548,466|
|Charge for the year|41,855|13,934|17,093|24,804|97,686|
|On disposals|||(7,707)|(282,013)|(289,720)|
|At 31 July 2022|319,992|173,061|72,661|790,718|1,356,432|
|Net book value||||||
|At 31 July 2022|7,388,946|31,963|86,148|71,004|7,578,061|
|At 31 July 2021|7,380,664|41,985|38,889|95,808|7,557,346|
##
|||Listed|
|---|---|---|
|||investmentsf|
|Cost orvaluation|||
|At 1 August 2021||1,566,113|
|Revaluations||(14,839)|
|Transfers|between classes|(450,000)|
|At 31 July|2022|1,101,274|
|Net book|value||
|At 31 July|2022|1,101,274|
|At 31 July|2021|1,566,113|
##
##
##
##
|||||2022|2021|
|---|---|---|---|---|---|
|||||6||
||Due within one year|||||
||Trade debtors|||377,251|326,431|
||Other debtors|||13,146||
||Prepayments|and accrued income||66,826|68,039|
|||||457,223|394,470|
|17.|Current asset investments|||||
|||||2022
6|2021f|
||Listed investments|||450,000||
|18.|Creditors: Amounts||falling due within one year|||
|||||2022|2021|
|||||6|6|
||Bank loans|||53,234|53,234|
||Trade creditors|||76,635|67,308|
||Other taxation|and social security||71,978|68,317|
||Other creditors|||256,022|230,239|
||Accruals
and deferred||income|330,982|428,190|
|||||788,851|847,288|
##
##
|Creditors: Amounts
falling due after|more than one year|||
|---|---|---|---|
|||2022f|2021
6|
|Bank loans||247,277|301,748|
|Other creditors||51,653|88,499|
|||298,930|390,247|
|Included
within the above are amounts|falling due as follows:|||
|||2022|2021|
|||6|6|
|Between one and two years||||
|Bank loans||53,234|53,234|
|Between two and five years||||
|Bank loans||159,702|159,702|
|Over five years||||
|Bankloans||34,341|88,812|
##
##
##
||||||Balance at 1|||Gains/|Balance at|
|---|---|---|---|---|---|---|---|---|---|
||||||August 2021f|Income
f|Expenditure
8|(Losses)
6|31 July 2022
f|
|Designated|funds|||||||||
|Governors'|discretionary|||fund|179,525|(104,140)|||75,385|
|Extra-ordinary
repair|||fund||116,134||(23,885)||92,249|
|Revaluation|reserve||- property||2,052,677||||2,052,677|
|Revaluation|reserve-|||||||||
|investments|||||956,944|||(14,839)|942,105|
||||||3,305,280|(104,140)|(23,885)|(14,839)|3,162,416|
|General funds||||||||||
|General
fund|||||6,016,407|4,636,548|(5,067,333)||5,585,622|
|Total Unrestricted|||funds||9,321,687|4,532,408|(5,091,218)|(14,839)|8,748,038|
|Restricted|funds|||||||||
|Scholarship|funds||||57,974|(54,590)|1,743||5,127|
|Travel account|||||36,008|57,610|(65,375)||28,243|
|Chadities account|||||929||||929|
|Partnerships|-Science Sparks||||14,107||||14,107|
|Duke of Edinburgh||Award|||2,580||(2,040)||540|
||||||111,598|3,020|(65,672)||48,946|
|Total funds|||||9,433,285|4,535,428|(5,156,890)|(14,839)|8,796,984|
##
##
##
##
|Comparative
infor|mation
in respec|t ofthe preced|ing
year is|as f|ollows:|||
|---|---|---|---|---|---|---|---|
||Balance at|||||||
||1 August||||Transfers|Gains/|Balance at|
||2020
8|Income
6|Expenditure|f|in/out
6|(Losses)
f|31 July 2021|
|Designated||||||||
|funds||||||||
|Governors'||||||||
|discretionary||||||||
|fund|100,669||||78,856||179,525|
|Extra-ordinary||||||||
|repair fund|198,830||(79,224)||(3,472)||116,134|
|Revaluation||||||||
|reserve-||||||||
|property|2,052,677||||||2,052,677|
|Revaluation||||||||
|reserve-||||||||
|investments|749,948|||||206,996|956,944|
||3,102,124||(79,224)||75,384|206,996|3,305,280|
|General funds||||||||
|General fund|6,218,835|4,705,170|(4,910,048)||2,450||6,016,407|
|Total||||||||
|Unrestricted||||||||
|funds|9,320,959|4,705,170|(4,989,272)||77,834|206,996|9,321,687|
##
##
|Statement offun|ds (continued)||||||||
|---|---|---|---|---|---|---|---|---|
||Balance at||||||||
||1 August||||Transfers|Gains/||Balance at|
||2020f|Income
f|Expenditure|f|in/out
f|(Losses)
6|31 July 2021
f||
|Restricted|||||||||
|funds|||||||||
|Scholarship|||||||||
|funds|128,345||(107,286)||20,935|15,980||57,974|
|Prize fund|8,333||||(8,333)||||
|Travel account|36,008|||||||36,008|
|Charities|||||||||
|account|929|||||||929|
|Bursary fund|90,436||||(90,436)||||
|Partnerships-|||||||||
|Science Sparks|14,107|||||||14,107|
|Old Girls|||||||||
|Association|3,189||(3,189)||||||
|Duke of|||||||||
|Edinburgh|||||||||
|Award|2,580|||||||2,580|
||283,927||(110,475)||(77,834)|15,980||111,598|
|Total funds|9,604,886|4,705,170|(5,099,747)|||222,976||9,433,285|
##
##
|Analysis
Analysis|of net assets between funds
of net assets between funds - current|year|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2022
8|2022f|2022
6|
|Tangible|fixed assets|7,578,061||7,578,061|
|Fixed asset investments||1,101,274||1,101,274|
|Current|assets|1,156,484|48,946|1,205,430|
|Creditors|due within one year|(788,851)||(788,851)|
|Creditors|due in more than one year|(298,930)||(298,930)|
|Total||8,748,038|48,946|8,796,984|
##
||Analysis of net assets betw|een fu|nds - prior year|||||
|---|---|---|---|---|---|---|---|
|||||Unrestricted||Restricted|Total|
||||||funds|funds|funds|
||||||2021f|2021
6|2021|
||Tangible fixed assets|||7,557,346|||7,557,346|
||Intangible
fixed assets||||6,959||6,959|
||Fixed asset investments|||1,566,113|||1,566,113|
||Current assets|||1,428,804||111,598|1,540,402|
||Creditors due within one year|||(847,288)|||(847,288)|
||Creditors due in more than one year|||(390,247)|||(390,247)|
||Total|||9,321,687||111,598|9,433,285|
|22.|Reconciliation
of net expenditure||to net cash flow from|operating|activities|||
|||||||2022|2021f|
||Net expenditure
for the year (as per||Statement offinancial|activities)||(636,301)|(171,601)|
||Adjustments
for:|||||||
||Amortisation|||||6,959|11,903|
||Depreciation|||||97,686|115,982|
||Interest receivable|||||(40,924)|(41,930)|
||(Increase)/decrease
in debtors|||||(62,753)|65,138|
||(Decrease)lincrease
in creditors|||||(95,283)|181,991|
||Fair value gains and losses on investments|||||14,839|(222,976)|
||Net cash used in operating|activities||||(715,777)|(61,493)|
|23.|Cash flows from financing|activities||||||
|||||||2022|2021f|
||Repayments
of borrowing|||||(54,471)|(55,624)|
||Net cash used in financing|activities||||(54,471)|(55,624)|
##
##
##
##
||||||2022
6|2021f|
|---|---|---|---|---|---|---|
||Dividends,
interest and rents||from investments||40,924|41,930|
||Purchase oftangible|fixed assets|||(118,401)|(41,520)|
||Net cash (used in)/provided||by investing|activities|(77,477)|410|
|25.|Analysis ofcash and cash||equivalents||||
||||||2022
f|2021
E|
||Cash
in hand||||298,207|1,145,932|
||Total cash and cash|equivalents|||298,207|1,145,932|
|26.|Analysis ofchanges|in net|debt||||
||||||Other non-||
|---|---|---|---|---|---|---|
||||At 1 August||cash|At 31 July|
||||2021
6|Cash flows
6|changes
f|2022
6|
|Cash|at bank and|in hand|1,145,932|(847,725)||298,207|
|Debt|due within
1|year|(53,234)|||(53,234)|
|Debt|due after 1 year||(301,748)|54,471||(247,277)|
|Liquid|investments||||450,000|450,000|
||||790,950|(793,254)|450,000|447,696|
##
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##
|under non|-can|cellable
operating
leases as follows:|||
|---|---|---|---|---|
||||2022
8|2021f|
|Not later than||1 year|25,151|17,779|
|Later than|1 year and not later than 5years||68,264|57,780|
||||93,415|75,559|
##