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# 12/01/2022
##
|_Notes_
**Incomeandendowments from:**
**Donations and legacies**
**Charitable activities:**
School fees
Other educational income
Other ancillary trading income
**Investments**
2
**Charitable Gift from Saint**
**Martin's (Solihull) Limited**
4
Total Income
**Expenditure on:**
**Raising funds**
**Charitable activities:**
School operating costs
Total Expenditure
3
**Net gains/(losses) on investments:**
Net lossesoninvestment properties
Net gains/(losses) on otherinvestments
**Total net gains/(losses) on**
**investments**
**Net income and net movementin**
**funds**
**Reconciliationoffunds:**
Total funds brought forward
**Total funds carried forward**|Unrestricted
funds
£
1,000
18,449,637
57,111
664,602
1,097,632
20,269,982
(172,210)
(19,559,644)
(19,73 1,854)
(105,000)
643,858
538,858
1,076,986
55,286,969
56,363,955||Restricted
funds
£
217,740
23,972
241,712
(6,240)
(149,775)
(156,015)
75,382
75,382
161,079
1,391,511
1,552,590|||Endowment
Total
funds
2021
£
£
218,740
18,449,637
57,111
664,602
1,121,604
-
20,511,694
(178,450)
Total
2020
£
965,917
14,642,200
63,783
1,164,344
1,222,813
8,712,465
26,771,522
(185,030)
-
(19,709,419)
(18,058,189)
-
(19,887,869)
(18,243,219)
(105,000)
99,245
818,485
99,245
713,485
99,245
1,337,310
491,118
57,169,598
590,363
58,506,908
(900,851)
(180,616)
(1,081,467)
7,446,836
49,722,762
57,169,598|
|---|---|---|---|---|---|---|
||||||||
||||||||
||||||||
||||||||
##
||_Notes_|
2021|2020|
|---|---|---|---|
|||£|£|
|**Fixed assets**||||
|Tangible assets|8|39,399,007|39,666,327|
|Investments|9|20,655,050|19,058,896|
|||60,054,057|58,725,223|
|**Current assets**||||
|Debtors|10|467,634|1,503,095|
|Short term deposits||377,128|376,901|
|Cash at bank and in hand||2,647,531|2,489,789|
|||3,492,293|4,369,785|
|**Creditors:**Amounts falling due within one year|11|(4,057,659)|(4,661,580)|
|**Net current liabilities**||(565,366)|(291 ,795)|
|**Total assets less current liabilities**||59,488,691|58,433,428|
|**Creditors:**Amounts falling due after more than one year|12|(98 1,783)|(1,263,830)|
|**Total net assets**||58,506,908|57,169,598|
|**The fundsofthe Group:**||||
|Endowment|13|590,363|491,118|
|Restricted|13|1,552,590|1,391,511|
|Unrestricted|13|56,363,955|55,286,969|
|**Total Group funds**||58,506,908|57,169,598|
##
|**Fixed assets**
Tangible assets
Investments
**Current assets**
Debtors
Short term deposits
Cash at bank andinhand
**Creditors:**Amounts falling due within oneyear
**Net current liabilities**
**Total assets less current liabilities**
**Creditors:**Amounts falling due after more than one year
**Total net assets**
**The fundsofthe charity:**
Endowment
Restricted
Unrestricted
**Total charity funds**
_Notes_
8
9
10
11
12
13
13
13|
|2021
£
39,399,007
20,655,05 I
60,054,058
477,247
377,128
2,597,864
3,452,239
(4,052,515)
(600,276)
59,453,782
(981,783)
58,471,999
|2020
£
39,666,327
19,058,897|
|---|---|---|---|
||||58,725,224|
||
|||
##
|**Cash flows from operating activities:**
Netcash usedinoperating activities
**Cash flows from investing activities:**
Dividends, interest and other income from investments
Purchaseofinvestments
Proceeds from salesofinvestments
Proceeds from salesofinvestment properties
Purchaseoftangible fixed assets
Giftofcash from Saint Martin's (Solihull) Ltd.
Netcash used in investing activities
**Cash flows from financing activities**
Receipts/(payments)ofendowment
**Change in cash and cash equivalentsinthe reporting period**
**Cash and cash equivalents at the beginningofthe**
**reporting period**
**Cash and cash equivalentsatthe endofthe reporting**
**period**
**Reconciliationofnet income/(expenditure) to net cash**
**flow from operating activities**
Netincome/(expenditure) for the reporting period
**Adjustments for:**
Depreciation charges
Net (incoming)/outgoing endowment resource
(Gains)/losses on investments
Dividends, interest and other income from investments
Decreaseindebtors
Decreaseincreditors
Charitable gift from Saint Martin's (Solihull) Ltd.
**Net cash usedinoperating activities**
**Analysisofchanges in cash and cash equivalents**
Cash at bank
Cash awaiting reinvestment
Short term deposits
Total cash and cash equivalents
**b/f**
£
2,489,789
281,268
376,90I
**3,147,958**|(|
|---|---|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|**Income and endowments from:**
**Donations and legacies**
**Charitable activities:**
School fees
Other educational income
Other ancillary trading income
**Investments**
**Charitable Gift from Saint**
**Martin's (Solihull) Limited**
Total Income
**Expenditure on:**
**Raising funds**
**Charitable activities:**
School operating costs
Total Expenditure
**Net lossesoninvestments:**
Net losses on investment
properties
Net losses on other investments
**Total net losses on investments**
**Net income and net movement**
**in funds**
**Reconciliationoffunds:**
Total funds brought forward
**Total funds carried forward**|Unrestricted
funds
£
32,480
14,642,200
63,783
1,164,344
1,190,201
8,712,465
25,805,473
(185,030)
(17,916,447)
(18,101,477)
(900,851)
(127,869)
(1,028,720)
6,675,276
48,611,693
55,286,969|Restricted
funds
£
933,437
12,733
946,170
(128,974)
(128,974)
817,196
574,315
1,391,511||Endowment
Total
funds
2020
£
£
965,917
14,642,200
63,783
1,164,344
19,879
1,222,813
8,712,465
19,879
26,771,522
(185,030)
(12,768)
(18,058,189)
(12,768)
(18,243,219)
(900,851)
(52,747)
(180,616)
(52,747)
(1,081,467)
(45,636)
7,446,836
536,754
49,722,762
491,118
57,169,598|Total
2020
£
965,917
14,642,200
63,783
1,164,344
1,222,813
8,712,465|
|---|---|---|---|---|---|
||||||26,771,522|
|||||||
## **Solihull School**
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2021
|
fr th|
e year ended 31 August 2021||||||
|---|---|---|---|---|---|---|
|2|ISTMENT INCOME||Unestcted
Fuds|Restricted
Fuds|Total
2021|Total
2020|
||||£|£|£|£|
||Investent income comprises:||||||
||Income fom investents listed
recognised stock exchage|on a|232,645|23,972|256,617|252,308|
||Income fom investment properies||864,358||864,358|954,379|
||Ban and other interest||629||629|16,126|
||||1,097,632|23,972|1,121,604|1,222,813|
|3|EXPENDIT||||||
|||Staf||Other|Total|Total|
|||costs|Depreciation|costs|2021|2020|
|||£|£|£|£|£|
||Raising fnds:||||||
||Investment management|||178,450|178,450|185,030|
||Chartable activities:||||||
||School operating costs
Goverance costs|13,033,823
42,198|1,257,663|5,272,342
103,393|19,563,828
145,591|17,846,296
211,893|
|||13,076,021|1,257,663|5,554,185|19,887,869|18,243,219|
||||||2021|2020|
||||||£|£|
||Total suppor costs included in||expendite are||1,695,847|1,603,059|
The support costs represent the management and administrative costs of the School charged directly to the School operating costs category of the Statement of Financial Activities.
Page 30
##
|Tangible fixed assets
Investments
Investments in subsidiary
Debtors
Trade Creditors
Other Creditors
Accruals
Pension scheme liability
Cash
**Total**|2021 Gift
recognised
£
2020 Gift
recognised
£
7,069,726
401 ,776
500
1,463,842
(24,163)
(1,731,402)
(130,149)
(118,017)
1,780,352
**8,712,465**|
|---|---|
|5
STAFF COSTS
The average monthly numberofpersons employed by the Group
during the year was:
Academic
Non-academic
Staffcosts for above persons:
Wages and salaries
Social security costs
Other pension costs|2021
Number
180
81
261
2021
£
10,169,447
1,030,442
1,876,132
13,076,021|2020
Number
173
72
245
2020
£
9,579,703
944,546
1,714,308
12,238,557|
|---|---|---|
##
##
|STAFF COSTS ( continued)|||
|---|---|---|
|The numberofemployees who received emoluments in the following|2021|2020|
|bands were:|Number|Number|
|£60,001 - £70,000|3|2|
|£70,001 - £80,000|2|4|
|£80,001 - £90,000|||
|£90,000 - £100,000|I|2|
|£100,001- £110,000|1|1|
|£110,001 - £120,000|1|1|
|£190,001- £200,000||1|
|£200,001 - £210,000|1||
|
unteers is not reflected in the StatementofFinancial Activities.|||
|---|---|---|
|MOVEMENT IN FUNDS FOR THE YEAR|2021|2020|
||£|£|
|The movement in funds for the financial year is after charging:|||
|Auditors' remuneration|||
|For audit services|34,128|52,878|
|Other financial services||15,480|
|Depreciationoftangible fixed assets|||
|Owned assets|1,257,663|1,083,964|
|Staff costs (see note 5)|13,076,021|12,238,557|
|Operating lease rentals|82,710|52,148|
|Bad debt charge|167,215|198,485|
|Trustee indemnity insurance|1,014|883|
##
##
##
|Costorvaluation
1 September 2020
Additions
Eliminations
31August 2021
Depreciation
1 September 2020
Charged in the year
Eliminations
31August 2021
Net book value
31August 2021
31August 2020||_Freehold_
_land and_
_buildings_
£
37,880,828
146,631
(496,916)
37,530,543||_Long_
_Furniture_
_Leasehold_
_and_
_equipment_
£
1,111,413
5,305,580
429,580
(86,054)
1,111,413
5,649,106
434,745
2,535,148
22,228
536,268
(86,054)
456,973
2,985,362
654,440
2,663,744|_Computer_
_equipment_
£
859,910
286,900
(206,746)
940,064
518,328
222,927
(206,746)
534,509
405,555|_Assets in_
_courseof_
_construction_
_Total_
£
£
24,012
45,181,743
127,232
990,343
(789,716)
151,244
45,382,370
5,515,416
1,257,663
(789,716)
5,983,363
151,244
39,399,007
24,012
39,666,327|
|---|---|---|---|---|---|---|
|||2,027,195
476,240
(496,916)
2,006,519
35,524,024
35,853,633|||||
||||||||
|||||676,668
2,770,432|341,582||
|9|**INVESTMENTS**|Group||||Charity||
|---|---|---|---|---|---|---|---|
||2021||2020||2021
2020|||
||£||£||£
£|||
||Investment properties at fair value
10,961,000|
11,066,000|||10,961,000
11,066,000|||
||Listed and other investmentsatfair|||||||
||value
9,693,550|
7,992,396|||9,693,550
7,992,396|||
||Investment in subsidiaries and joint|||||||
||ventures at cost
500||500||501
501|||
||20,655,050|
19,058,896|||20,655,051
19,058,897|||
||Analysed as follows:||||2021
2020|||
||||||£
£|||
||Investment properties at fair value:|||||||
||Brought forward||||11,066,000
13,031,000|||
||Disposal proceeds|||||(1,064,149)||
||Net loss on investment properties||||(105,000)
(900,851)|||
||At31August||||10,961,000
11,066,000|||
||Investment properties were revalued at fair value by|the Governors on|||both31August 2020 and31|||
||August 2021. The annual valuationofinvestment properties is reviewed in detail by the Proper||||||ty|
||Sub Committee in accordance with guidelines set outbythe Royal InstituteofChartered Surveyors.|||||||
||Individual properties are examined in detail and the proposed valuation reviewed and discuss||||||ed|
||with professional advisors. The Governors recognise that conditions in the property investme||||||nt|
||market remain challenging with the retail and hospitality||sectors||remaining|under particular||
||pressure. The diversityofthe portfolio provides|some protection against this pressure with||||||
||valuations taking into account items such as current and expected|||market yields, local market||||
||conditions, length ofleases and individual covenant strengths.|||||||
||The costofinvestment properties at31August 2021|was £6,842,256 (2020: £6,842,256).||||||
||||||2021|
2020||
||||||£|
£||
||Listed and other investments at fair value:|||||||
||Brought forward||||7,992,396|
6,632,196||
||Additions at cost||||1,998,762|
2,133,349||
||Charitable Gift from Saint Martin's (Solihull) Ltd|||||401,776||
||Disposal proceeds||||(1,084,684)
(1,141,277)|||
||Net gain/(loss) on investments||||818,485|
(180,616)||
||(Reduction)/increase in cash awaiting reinvestment||||(31,409)
146,968|||
||At31August||||9,693,550|
7,992,396||
##
##
|9
INVESTMENTS (continued)|9
INVESTMENTS (continued)||
|---|---|---|
|Listedandother investments at fair value comprise:
Listed investments
Cash awaiting reinvestment
10
DEBTORS
Trade debtors
Other debtors
Amount due from Group undertakings
Prepayments and accrued income
11
CREDITORS: Amounts fallingduewithin one
year
Trade creditors
Other creditors
Refundable parent deposits
Other taxandsocial security creditors
Deferred income
Accruals
Pension scheme cessation creditor (LGPS)
Defined benefit pension scheme liability (TPT)
Amount due to Group undertakings||
2021
2020
£
£
9,443,691
249,859
9,693,550
7,711,128
281 ,268
7,992,396
Group
Charity
2021
2020
2021
2020
£
£
£
£
5,110
1,595
42,735
100,131
42,735
100,130
14,723
14,796
419,789
1,401,369
419,789
1,401,169
467,634
1,503,095
477,247
1,516,095
Group
Charity
2021
2020
2021
2020
£
£
£
£
384,107
433,862
384,107
433,862
314,180
402,580
314,180
402,580
556,900
553,450
556,900
553,450
296,516
298,477
294,924
298,477
1,822,405
1,124,635
1,822,405
1,124,569
362,087
1,590,176
358,535
1,590,176
304,721
238,810
304,721
238,810
16,743
19,590
16,743
19,590
33,510
4,057,659
4,661,580
4,052,515
4,695,024|
||||
||||
|12
CREDITORS: Amounts falling due after more
than one year
Deferred income
Pension scheme cessation creditor (LGPS)
Defined benefit pension scheme liability (TPT)|2021
£
14,670
910,846
56,267
981,783
Group
2020
£
20,693
1,155,338
87,799
1,263,830|Charity
2021
2020
£
£
14,670
910,846
56,267
20,693
1,155,338
87,799
981,783
1,263,830|
|---|---|---|
|2021
£
At1 September
1,145,328
Funds receivedinyear
1,826,376
Amounts released
(1,134,629)
At31August
1,837,075|2020
£
1,544,119
1,094,609
(1,493,400)|
|---|---|
||1,145,328|
##
##
|Fund balance at
31August 2020
£
Unrestricted Funds
55,286,969
Restricted Funds:
Silhillian Fund
1,276,999
EGWilcox Fund
103,758
Other
10 754
Total Restricted
1,391,511
Endowment Fund
491,118
Total
57,169,598|Net gainson
Funds balance at
Income
Expenditure
investments
31August 2021
£
£
£
£
20,269,982
19,738,593
545,597
56,363,955
126,744
110,074
75,382
1,369,051
32,000
32,000
103,758
822968
13,941
79 781
241,712
156,015
75,382
1,552,590
99,245
590,363
20,511,694
19,894,608
720,224
58,506,908|
|---|---|
##
|Fund balance at
31August 2020
£
Unrestricted Funds
55,199,234
Restricted Funds:
Silhillian Fund
1,276,999
EGWilcox Fund
103,758
Other
IO754
Total Restricted
1,391,511
Endowment Fund
491,118
Total
57,081,863|Income
£
20,283,589
126,744
32,000
82,968
241,712
20,525,301|Net gains on
Funds balance at
Expenditure
investments
31August 2021
£
£
£
19,699,374
545,597
56,329,046
110,074
75,382
1,369,051
32,000
I03,758
13941
79781
156,015
75,382
1,552,590
99,245
590,363
19,855,389
720,224
58,471,999|
|---|---|---|
||||
##
##
##
|Unrestricted
funds
£
Fund balances at31August 2021
were:
Tangible fixed assets
39,399,007
Investments
18,847,434
Net current liabilities
(900,703)
Liabilities: amounts falling due
(981,783)
after more than one year
56,363,955
Unrestricted
funds
£
Fund balancesat31August 2020
were:
Tangible fixed assets
39,666,327
Investments
18,567,778
Net current liabilities
(1,683,306)
Liabilities: amounts falling due
(1,263,830)
after more than one year
55,286,969|Restricted
funds
£
1,217,253
335,337
1,552,590
Restricted
funds
£
1,391,511
1,391,511|Endowment
funds
£
590,363|Total
£
39,399,007
20,655,050
(565,366)
(981,783)
58,506,908|
|---|---|---|---|
##
|Unrestricted
funds
£
Fund balances at31August 2021 were:
Tangible fixed assets
39,399,007
Investments
18,847,435
Netcurrent liabilities
(935,613)
Liabilities: amounts falling due after
(981,783)
more than one year
56,329,046
Unrestricted
funds
£
Fundbalances at31August 2020 were:
Tangible fixed assets
39,666,327
Investments
18,567,779
Netcurrent liabilities
(1,771,042)
Liabilities: amounts falling due after
more than one year
(1,263,830)
55,199,234|Restricted
Endowment
funds
funds
£
£
1,217,253
590,363
335,337
1,552,590
590,363
Restricted
Endowment
funds
funds
£
£
491,118
1,391,511
1,391,511
491,118|Total
£
39,399,007
20,655,051
(600,276)
(981,783)
58,471,999
Total
£
39,666,327
19,058,897
(379,531)
(1,263,830)
57,081,863|
|---|---|---|
##
##
||2021|2020|
|---|---|---|
||£|£|
|Teacher's Pension Scheme contribution cost|1,625,446|1,508,246|
##
|
ife and one with The Pensions Trust.|||
|---|---|---|
||2021|2020|
||£|£|
|StandardLife/fhePensions Trust Pension Scheme contribution cost|250,686|206,062|
##
|2021|2020|
|---|---|
|£|£|
|Amounts payable within I year
Amounts payable within 2 - 5 years|2021
£
55,214
50,340
105,554|2020
£
90,320
71,640
161,960|
|---|---|---|
##
##
##