2020-08-31-accounts

11/01/2021

	_Notes _	Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	2020	2019
		£	£	£	£	£
**Incomeand endowments from: **
**Donations and legacies **		32,480	933,437		965,917	460,925
**Charitable activities: **
Schoolfees		14,642,200			14,642,200	11,985,853
Othereducationalincome		63,783			63,783	66,048
Otherancillarytradingincome		1,164,344			1,164,344	885,693
**Investments **	2	1,190,201	12,733	19,879	1,222,813	1,390,206
**Charitable Gift from Saint **
**Martin's (Solihull) Limited **	4	8,712,465			8,712,465
TotalIncome		25,805,473	946,170	19,879	26,771,522	14,788,725
**Expenditure on: **
**Raising funds **		(185,030)			(185,030)	(203,275)
**Charitable activities: **
School operating costs		(17,916,447)	(128,974)	(12,768)	(18,058,189)	(13,853,649)
TotalExpenditure	3,14,15	(18,101,477)	(128,974)	(12,768)	(18,243,219)	(14,056,924)
**Net (losses)/gains on investments: **
Net(losses)/gainsoninvestment
properties		(900,851)			(900,851)	183,936
Net(losses)/gainsonother
Investments		(127,869)		(52,747)	(180,616)	23,505
**Totalnet (losses)/gains on **
**investments **		(1,028,720)		(52,747)	(1,081,467)	207,441
**Net income and net movement in **
**funds **		6,675,276	817,196	(45,636)	7,446,836	939,242
**Reconciliation of funds: **
Totalfundsbroughtforward		48,611,693	574,315	536,754	49,722,762	48,783,520
**Totalfunds carried forward **		55,286,969	1,391,511	491,118	57,169,598	49,722,762

	_Notes _	2020	2019
		£	£
**Fixed assets **
Tangibleassets	8	39,666,327	30,110,778
Investments	9	19,058,896	19,663,196
		58,725,223	49,773,974
**Current assets **
Debtors	10	1,503,095	740,424
Shorttermdeposits		376,901	1,887,222
Cashatbankandin hand		2,489,789	2,063,996
		4,369,785	4,691,642
Creditors: Amountsfallingduewithinoneyear	11	(4,661,580)	(3,299,587)
**Net current (liabilities)/assets **		(291,795)	1,392,055
**Total assets less current liabilities **		58,433,428	51,166,029
Creditors: Amountsfallingdue aftermorethanoneyear	12	(1,263,830)	(1,443,267)
**Total net assets **		57,169,598	49,722,762
**The funds of the Group: **
Endowment	16	491,118	536,754
Restricted	15	1,391,511	574,315
Unrestricted	14	55,286,969	48,611,693
**Total Groupfunds **		57,169,598	49,722,762

	_Notes _	2020	2019
		£	£
**Fixed assets **
Tangibleassets	8	39,666,327	30,110,778
Investments	9	19,058,897	19,663,197
		58,725,224	49,773,975
**Current assets **
Debtors	IO	1,516,095	771,898
Shorttermdeposits		376,901	1,887,222
Cashatbankandinhand		2,422,497	2,030,584
		4,315,493	4,689,704
Creditors: Amountsfallingduewithinoneyear	11	(4,695,024)	(3,299,077)
**Netcurrent (liabilities)/assets **		(379,531)	1,390,627
**Total assets less current liabilities **		58,345,693	51,164,602
Creditors: Amountsfallingdueaftermorethanoneyear	12	(1,263,830)	(1,443,267)
**Total net assets **		57,081,863	49,721,335
**The funds of the charity: **
Endowment	16	491,118	536,754
Restricted	15	1,391,511	574,315
Unrestricted	14	55,199,234	48,610,266
**Total charityfunds **		57,081,863	49,721,335

	2020	2019
	£	£
**Cash flows from operating activities: **
Netcash usedinoperatingactivities	(367,070)	(1,234,032)
**Cash flows from investing activities: **
Dividends, interestandotherincomefrominvestments	1,202,934	1,367,128
Purchaseofinvestments	(2,132,849)	(421,404)
Purchaseofinvestmentproperties		(861,064)
Proceedsfromsalesofinvestments	1,141,277	3,191,689
Proceedsfromsalesofinvestmentproperties	1,064,149
Purchaseoftangiblefixedassets	(3,580,745)	(980,710)
GiftofcashfromSaintMartin's(Solihull)Ltd.	1,780,353
**Net cash (used in)/generated by investing activities **	(524,881)	2,295,639
**Cash flows from financing activities **
(Payments)/receiptsofendowment	(45,637)	18,681
**Change in cash and cash equivalents in the reporting period **	**(937,588) **	**1,080,288 **
**Cash and cash equivalents at the beginning of the **
**reporting period **	**4,085,546 **	**3,005,258 **
**Cash and cash equivalents at the end of the reporting **
**period **	**3,147,958 **	**4,085,546 **
**Reconciliation of netincome/(expenditure) to net cash **
**flow from operating activities **
Netincome/(expenditure)forthereportingperiod	7,446,836	939,242
**Adjustments for: **
Depreciationcharges	1,083,964	607,358
Net(incoming)/outgoingendowmentresource	45,637	(18,681)
Losses/(gains)oninvestments	1,081,467	(207,441)
Dividends,interestandotherincomefrominvestments	(1,190,201)	(1,367,128)
Decrease/(increase) indebtors	701,172	(296,565)
Decreaseincreditors	(823,480)	(890,817)
CharitablegiftfromSaintMartin's(Solihull)Ltd.	(8,712,465)
**Netcash used in operating activities **	**(367,070) **	**(1,234,032) **
**Analysis of changes in cash and cash equivalents **	**2020 **	**2019 **
	£	£
Cashatbank	2,489,789	2,063,996
Cashawaitingreinvestment	281,268	134,328
Shorttermdeposits	376,901	1,887,222
Totalcashandcashequivalents	3,147,958	**4,085,546 **

	Unrestricted	Restricted	Endowment	Total
	funds	funds	funds	2019
	£	£	£	£
**Incomeand endowments from: **
**Donations and legacies **	32,786	428,139		460,925
**Charitable activities: **
School fees	11,985,853			11,985,853
Othereducationalincome	66,048			66,048
Otherancillarytradingincome	885,693			885,693
**Investments **	1,365,533	1,595	23,078	1,390,206
TotalIncome	14,335,913	429,734	23,078	14,788,725
**Expenditure on: **
**Raising funds **	(203,275)			(203,275)
**Charitable activities: **
Schooloperatingcosts	(13,750,828)	(81,005)	(21,816)	(13,853,649)
TotalExpenditure	(13,954,103)	(81,005)	(21,816)	(14,056,924)
**Net gains/(losses) on **
**investments: **
Net(losses)/gainsoninvestment
properties	183,936			183,936
Netgainsonotherinvestments	6,086		17,419	23,505
**Totalnet gains on investments **	190,022		17,419	207,441
**Net income and net movement **
**in funds **	571,832	348,729	18,681	939,242
**Reconciliation of funds: **
Totalfundsbrought forward	48,039,861	225,586	518,073	48,783,520
**Totalfunds carried forward **	48,611,693	574,315	536,754	49,722,762

2	INVESTMENTINCOME	Unrestricted	Restricted	Endowment	Total	Total
		Funds	Funds	Funds	2020	2019
		£	£	£	£	£
	Investment income
	compr1ses:
	Incomefrom	219,696	12,733	19,879	252,308	290,347
	investmentslisted ona
	recognisedstock
	exchange
	Incomefrominvestment	954,379			954,379	1,069,055
	properties
	Bankandotherinterest	16,126			16,126	30,804
		1,190,201	12,733	19,879	1,222,813	1,390,206
3	EXPENDITURE
		Staff		Other	Total	Total
		costs	Depreciation	costs	2020	2019
		£	£	£	£	£
	Raising funds:
	Investmentmanagement			185,030	185,030	203,275
	Charitable activities:
	Schooloperatingcosts	12,199,329	1,083,964	4,563,003	17,846,296	13,602,356
	Governancecosts	39,228		172,665	211,893	251,293
		12,238,557	1,083,964	4,920,698	18,243,219	14,056,924
					2020	2019
					£	£
	Totalsupport	costsincludedin	expenditureare		1,603,059	1,191,522

(Solihull)Limited:
	Bookvalue	Fairvalue	Gift
	acquired	adjustments	recognised
	£	£	£
Tangiblefixedassets	4,550,445	2,519,281	7,069,726
Investments	401,776		401,776
Investmentsinsubsidiary	500		500
Debtors	1,463,842		1,463,842
TradeCreditors	(24,163)		(24,163)
OtherCreditors	(1,731,402)		(1,731,402)
Accruals	(130,149)		(130,149)
Pensionschemeliability	(118,017)		(118,017)
Cash	1,780,352		1,780,352
**Total **	**6,193,184 **	**2,519,281 **	**8,712,465 **
STAFFCOSTS		2020	2019
		Number	Number
TheaveragemonthlynumberofpersonsemployedbytheGroup
duringtheyearwas:
Academic		173	121
Non-academic		72	51
		245	172
		2020	2019
		£	£
Staffcostsforabovepersons:
Wages andsalaries		9,579,703	6,901,121
Socialsecuritycosts		944,546	703,723
Otherpensioncosts		1,714,308	936,440
		12,238,557	8,541,284

Thenumberofemployeeswho receivedemolumentsinthefollowing	2020	2019
bandswere:	Number	Number
£60,001-£70,000	2	4
£70,001-£80,000	4	1
£80,001-£90,000		1
£90,000-£100,000	2	1
£100,001-£110,000	1
£110,001-£120,000	1
£170,001-£180,000
£190,001-£200,000

MOVEMENTINFUNDSFORTHEYEAR	2020	2019
	£	£
Themovementinfundsforthefinancialyearisaftercharging:
Auditors'remuneration
Forauditservices	52,878	21,885
Otherfinancialservices	15,480	46,740
Depreciationoftangiblefixedassets
Ownedassets	1,083,964	607,358
Staffcosts(seenote5)	12,238,557	8,541,284
Operatingleaserentals	52,148	51,098
Baddebtcharge	198,485	55,747
Trusteeindemnityinsurance	883	912

	_Freehold _	_Long _	_Furniture _		_Assets in _
	_land and _	_Leasehold _	_and _	_Computer _	_course of _
	_buildings _		_equipment _	_equipment _	construction	_Total _
	£		£	£	£	£
Costorvaluation
ISeptember2019	27,303,601		3,422,344	734,655	617,607	32,078,207
Additions	2,569,132		833,906	153,695	24,012	3,580,745
Charitablegiftfrom
SaintMartin's
(Solihull)Ltd.	7,401,446	1,111,413	1,168,071	243,494		9,924,424
Eliminations			(118,741)	(271,934)	(10,958)	(401,633)
Transfers	606,649				(606,649)
31August2020	37,880,828	1,111,413	5,305,580	859,910	24,012	45,181,743
Depreciation
1September2019	191,293		1,309,811	466,325		1,967,429
Chargedintheyear	457,788		449,057	177,119		1,083,964
Charitablegiftfrom
SaintMartin's
(Solihull)Ltd.	1,378,114	434,745	895,021	146,818		2,854,698
Eliminations			(118,741)	(271,934)		(390,675)
31August2020	2,027,195	434,745	2,535,148	518,328		5,515,416
Netbookvalue
31August2020	35,853,633	676,668	2,770,432	341,582	24,012	39,666,327
31August2019	27,112,308		2,112,533	268,330	617,607	30,110,778
Grossdepreciablevalue
31August2020	33,556,524	1,111,413	5,305,580	859,910		40,833,427
31August2019	1,104,256		3,422,344	734,655		5,261,255

9	INVESTMENTS		Group		Charity
		2020	2019	2020	2019
		£	£	£	£
	Investmentpropertiesatfairvalue	11,066,000	13,031,000	11,066,000	13,031,000
	Listedandotherinvestmentsatfair
	value	7,992,396	6,632,196	7,992,396	6,632,196
	Investmentinsubsidiaries andjoint	500		501	1
	venturesatcost
		19,058,896	19,663,196	19,058,897	19,663,197
	Analysedasfollows:			2020	2019
				£	£
	Investmentpropertiesatfairvalue:
	Broughtforward			13,031,000	11,986,000
	Additionsatcost				861,064
	Disposalproceeds			(1,064,149)
	Net(loss)/gainoninvestmentproperties			(900,851)	183,936
	At31August			11,066,000	13,031,000

	2020	2019
	£	£
Listedandotherinvestmentsatfairvalue:
Broughtforward	6,632,196	9,375,503
Additionsatcost	2,133,349	421,404
CharitableGiftfromSaintMartin's(Solihull)Ltd	401,776
Disposalproceeds	(1,141,277)	(3,191,689)
Net(loss)/gainoninvestments	(180,616)	23,505
Disposalproceedsawaitingreinvestment	146,968	3,473
At31August	7,992,396	6,632,196

				2020		2019
				£		£
	Listedandotherinvestmentsatfairvaluecomprise:
	Listedinvestments		7,711,128		6,497,868
	Cashawaiting reinvestment		281,268		134,328
			7,992,396		6,632,196
10	DEBTORS	Group			Charity
		2020	2019	2020		2019
		£	£		£	£
	Otherdebtors	101,726	8,654	100,130		8,654
	AmountduefromGroup undertakings			14,796		31,474
	Prepayments andaccruedincome	1,401,369	731,770	1,401,169		731,770
		1,503,095	740,424	1,516,095		771,898
11	CREDITORS:Amountsfallingduewithinone		Group			Charity
	year
		2020	2019		2020	2019
		£	£		£	£
	Trade creditors	433,862	283,502		433,862	283,502
	Othercreditors	402,580	361,272		402,580	361,272
	Refundableparentdeposits	553,450	438,500		553,450	438,500
	Othertaxandsocialsecuritycreditors	298,477	180,396		298,477	180,396
	Deferredincome	1,124,635	1,495,000	1,124,569		1,495,000
	Accruals	1,590,176	307,656	1,590,176		307,146
	Pensionschemecessationcreditor(LGPS)	238,810	233,261		238,810	233,261
	Pensionschemecessationcreditor(TPT)	19,590			19,590
	AmountowedtoGroup undertakings				33,510
		4,661,580	3,299,587	4,695,024		3,299,077

12	CREDITORS:Amountsfallingdueaftermore		Group		Charity
	thanoneyear
		2020	2019	2020	2019
		£	£	£	£
	Deferredincome	20,693	49,119	20,693	49,119
	Pensionschemecessationcreditor(LGPS)	1,155,338	1,394,148	1,155,338	1,394,148
	Pensionscheme cessationcreditor(TPT)	87,799		87,799
		1,263,830	1,443,267	1,263,830	1,443,267

	2020	2019
	£	£
At1September	1,544,119	1,351,778
Fundsreceivedinyear	1,094,609	1,465,018
Amountsreleased	(1,493,400)	(1,272,677)
At31August	1,145,328	1,544,119

MOVEMENTONUNRESTRICTEDFUNDS(group)
	Designated
	Foundation	Revenue
	Fund	account	Total
	£	£	£
Balanceatthestartoftheyear	48,591,693	20,000	48,611,693
Income	1,180,847	24,624,626	25,805,473
Expenditure	(253,302)	(17,848,175)	(18,101,477)
Netincomebeforetransfers	49,519,238	6,796,451	56,315,689
Transferbetween funds	7,772,315	(7,772,315)
Transfer rebursaries/scholarships	(995,864)	995,864
Netincomebeforerevaluationsandinvestment
assetdisposals	56,295,689	20,000	56,315,689
Netlossesoninvestments	(1,028,720)		(1,028,720)
Balanceattheendoftheyear	55,266,969	20,000	55,286,969
MOVEMENTONUNRESTRICTEDFUNDS(charity)
	Designated
	Foundation	Revenue
	Fund	account	Total
	£	£	£
Balanceatthestartoftheyear	48,590,266	20,000	48,610,266
Income	1,180,847	24,515,820	25,696,667
Expenditure	(253,302)	(17,825,677)	(18,078,979)
Netincomebeforetransfers	49,517,811	6,710,143	56,227,954
Transferbetweenfunds	7,686,007	(7,686,007)
Transferrebursaries/scholarships	(995,864)	995,864
Netincomebeforerevaluationsandinvestment
assetdisposals	56,207,954	20,000	56,227,954
Netlossesoninvestments	(1,028,720)		(1,028,720)
Balanceattheendoftheyear	55,179,234	20,000	55,199,234

	E.G.
	Wilcox	Silhillian	Other
	Fund	Fund	Restricted	Total
	£	£	£	£
Balance atstartofyear	103,758	459,553	11,004	574,315
Totalincome	45,000	899,970	1,200	946,170
Totalexpenditure	(45,000)	(82,524)	(1,450)	(128,974)
Balanceatendofyear	103,758	1,276,999	10,754	1,391,511

	Unrestricted	Restricted	Endowment
	funds	funds	funds	Total
	£	£	£	£
Fundbalancesat31August2020were:
Tangiblefixedassets	39,666,327			39,666,327
Investments	18,567,778		491,118	19,058,896
Netcurrentliabilities	(1,683,306)	1,391,511		(291,795)
Liabilities:amountsfallingdueafter
morethanoneyear	(1,263,830)			(1,263,830)
	55,286,969	1,391,511	491,118	57,169,598

	Unrestricted	Restricted	Endowment
	funds	funds	funds	Total
	£	£	£	£
Fundbalancesat31August2020were:
Tangiblefixedassets	39,666,327			39,666,327
Investments	18,567,779		491,118	19,058,897
Netcurrent liabilities	(1,771,042)	1,391,511		(379,531)
Liabilities:amountsfallingdueafter
morethanoneyear	(1,263,830)			(1,263,830)
	55,199,234	1,391,511	491,118	57,081,863

	2020	2019
	£	£
Teacher'sPensionSchemecontributioncost	1,508,246	771,722

	2020	2019
	£	£
StandardLife/ThePensionsTrustPensionSchemecontributioncost	206,062	164,718

	2020	2019
	£	£
Contracted		854,930
At31Augusttheschoolhad totalfuturecommitmentsundernon-cancellableoperating		leasesas
follows:
	2020	2019
	£	£
Amountspayablewithin1year	90,320	46,119
Amountspayablewithin2-5years	71,640	112,179
	161,960	158,298