2021-08-31-accounts - Newcastle-Under-Lyme School

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		~pa e
Report ot the C,oe mors		2-14
Report ot the lndepend	nt Auditors
St.itement ot Financial	Actii, itie-
Ralance Sheet
Cash Flow Statement
Notes tv the Financial	Statements	23-35

he average	number of	pupils was:
		2020-21	2019-20	2018-19	2017-18
Senior School		579	551	566	598
Pre arator	School	208	221	239	242
Total		787	772	805	840

		Unrestricted	Restricted	2021	2020
		funds	funds	Total	Total
Income and endowments from:
Charitable activities
School fees receivable		8,978,223		8,978,223	8,088,657
Ancillary trading income		386,074		386,074	498,563
Other trading activities
Non-ancillary trading income		3,561			38,116
Investments		56,569		56,569	81,692
Voluntary incoming sources		741,366	608,439	1,349,805	649,466
Activities to generate funds		3,395		3,395	298
Total incoming resources		10,169,188	608,439	10,777,627	9,356,792
Expenditure on:
Raising funds
Financing costs		32.172		32,172	40,050
Investment management		16,440		16,440	22,796
Total deductible costs		48,612		48,612	62,846
Charitable activities
Education and grant making		9,338,013	14,000	9,352,013	9,793,945
Total expenditure		9,386,625	14,000	9,400,625	9,856,791
Net incoming funds from operation:
before transfers and investment	gains	782,563	594,439	1,377,002	(499,999)
Gains/(Loss) on investments		397,859		397,859	(97,808)
Net movement in funds for the	year	1,180,422	594,439	1,774,861	(597,807)
Fund balances brought forward	at
1September 2020		13,881,178	102,667	13,983,845	14,581,652
Fund balances carried forward	at
31August 2021		15,061,600	697,106	15,758,706	13,983,845

		Note	31Aug 2021	31Aug 2020
			Total	Total
FIXEDASSETS
Tangible assets Securities investments		10 11	11,307,833 2,826,982	10,948,092 2,305,968
			14,134,815	13,254,060
CURRENT ASSETS
Stock			13,467	17,792
Debtors		12	330,928	515,058
Securities investments	—cash balances	11	53,378	196,473
Cash and deposits			3,103,663 3,501,436	1,607,074 2,336,397
CURRENT LIABILITIES
Amounts falling due within one year		13	(1,183,398)	(802,172)
NET CURRENT ASSETS			2,318,038	1,534,225
TOTAL ASSETSLESS CURRENT LIABILITIES			16,452,853	14,788,285
LONG TERM LIABILITIES
Creditors payable after one year		14	(694,147)	(804,440)
NET ASSETS			15,758,706	13,983,845
REPRESENTED BY:
Unrestricted funds			15,061,600	13,881,178
Restricted funds			697,106	102,667
		16	15,758,706	13,983,845

				2021		2020
Cash flows from operating activities
Net cash provided by operating	activities			2,352,789		(776,248)
Cash flows from investing activities
Dividends and interest from investments			56,263		74,167
Purchase ofproperty, plant and	equipment		(809,398)		(157,574)
Investment management fees			19,940		24,231
Purchase of investments					(797)
Net cash provided (used in) investing		activities		(733,195)		(59,973)
Cash flows from financing activities
Repayments ofborrowing			(123,005)		(140,732)
Net cash provided by (used in)	financing activities			(123,005)		(140,732)
Change in cash and cash equivalents				1,496,589		(976,953)
Cash in hand at 01July 2020				1,607,074		2,584,027
Cash in hand at 31August 2021				3,103,663		1,607,074
Reconciliation ofnet income to	net cash flow from o erations
Net incoming funds as per the Statement ofFinancial Activities				1,377,002		(499,999)
Adjustments for:
Depreciation charges				449,657		541,972
Dividends and interest from investments				(56,263)		(74,167)
Decrease/(Increase) in stocks				4,325		(3,967)
Decrease in debtors				184,130		163,714
Increase/(decrease) in creditors				393,938		(903,801)
Net cash provided by operating	activities			2,352,789		(776,248)
Anal sis ofchan es in net debt
				At 1sep2020	Cash flows	At 31Aug2021
Cash and cash equivalents
Cash				1,607,074	1,496,589	3,103,663
Borrowings
Debts due within one year				(123,583)	12,712	(110,871)
Debts due after one year				(804,440)	110,293	(694,147)
Total				679,051	1,619,594	2,298,645

2. SCHOOL FEESRECEIVABLE			2020
Fees receivable consist of:
School fees		9,729,565	8,814,463
Less:total scholarships, bursaries	and concessions	(751,342)	(725,806)
		8,978,223	8,088,657
3. ANCILLARY TRADING INCOME		2021	2020
Catering income		336,575	445,942
Out ofhours school care		19,042	11,407
Sundry income		30,457	41,214
		386,074	498,563
4. NON ANCILLARY TRADING INCOME		2021	2020
Rents and lettings		3,561	38,116
5. INVESTMENT INCOME		2021	2020
Investments		56,263	74,963
Bank interest		306	6,729
		56,569	81,692
6.VOLUNTARY INCOMING RESOURCES		2021	2020
Job Retention Scheme grant		157,492	442,263
Bequests and legacies		550,000	202,607
Grants drawn in respect ofnew Sports Hall		608,439	4,596
Planning fees reimbursed		24,664
Gifts in kind for the School's own	use	9,210
		1,349,805	649,466
7. ACTIVITIES TO GENERATE	FUNDS	2021	2020
Fundraising proceeds
Sundry donations raised		3,395	298

8. ANALYSIS OF EXPENDITURE
	Staff costs	Depreciation	Other	2021
	(note 9)	(note 10)
	F	E
(a) Total Expenditure
Cost ofgenerating funds Financing costs Investment management			32,172 16,440	31,172 16,440
Total cost ofgenerating funds			48,612	48,612
Charitable expenditure
Education and grant making
Teaching Welfare	6,011,011 291,224	86,186	489,365 213,946	6,586,562 505,170
Premises repair and maintenance Support costs and governance Total charitable expenditure	542,367 419,706 7,264,308	70,406 293,065 449,657	571,089 363,648 1,638,048	1,183,862 1,076,419 9,352,013
Total expended	7,264,308	449,657	1,686,660	9,400,625
				2020
Cost ofgenerating funds Financing costs			40,050	40,050
Investment management			22,796	22,796
Total cost ofgenerating funds			62,846	62,846
Charitable expenditure
Education and grant making Teaching Welfare	5,922,916 346,961	101,171	582,117 251,380	6,606,204 598,341
Premises repair and maintenance Support costs and governance Total charitable expenditure	614,580 510,734 7,395,191	341,909 98,892 541,972	631,038 392,247 1,856,782	1,587,527 1,001,873 9,793,945
Total expended	7,395,191	541,972	1,919,628	9,856,791
(b) Governance included in support costs			2021	2020
Remuneration paid to auditor for audit services			12,162	13,116
Reimbursement ofpersonal expenses to Governors
Other governance costs			12,434	10,048

9. STAFF COSTS					2020
The aggregate payroll	costs for the year were:
Wages and salaries				5,483,715	5,680,934
Benefits in kind				311,787	301,254
Social security costs				508,397	503,500
Other pension costs				926,071	909,503
Redundancy/termination	payments			34,338
				7,264,308	7,395,191
None ofthe Governors	received any remuneration	or other benefits	from
Newcastle-under-Lyme	School or from any connected body
Termination costs are	charged in the period in which the termination		is
agreed.

			2021	2020
Aggregate employee benefits of key management		personnel	f759,974	6721,730
Number ofhigher paid employees	in bands of:
660,001to670,000
670,001to680,000
6100,001to6110,000
The average number ofthe School's employees		during the year, was
Teaching staff			89	93
Administration			11	15
Support staff			115	123
			215	231

10. TANGIBLE FIXEDASS	ETS
			Educational	Assets in the
		Non-	books,	course of
	Freehold	educational	equipment	construction
	property	equipment	and furniture		Totals
	E
Cost or frozen valuation
At 01September 2020 Additions	13,879,326	1,089,086 92,801	1,708,652 17,526	127,650 699,071	16,804,714 809,398
Reclassification		8,871	5,644	(14,515)
Disposals At 31August 2021	13,879,326	1,190,758	1,731,822	812,206	17,614,112
Depreciation At 01September 2020 Charge for the year	4,046,325 293,065	815,006 70,406	995,291 86,186		5,856,622 449,657
Eliminated on disposal
At 31August 2021	4,339,390	885,412	1,081,477		6,306,279
Net BookValue
At 31August 2021 At 31August 2020	9,539,936 9,833,001	305,346 274,080	650,345 713,361	812,206 127,650	11,307,833 10,948,092

			2020
11.INVESTMENTS
Market Value 1September 2020		2,502,441	2,623,683
New money invested
Reinvested income			797
Amounts extracted
Investment management	fees	(19,940)	(24,231)
Increase/(decrease) in the value ofinvestments		397,859	(97,808)
Market Value 31August	2021	2,880,360	2,502,441
Investments held in the portfolio are as follows:
Stocks and shares		2,826,982	2,305,968
Cash		53,378	196,473
		2,880,360	2,502,441

		2021	2020
Fees and extras		174,291	192,104
Other debtors		5,957	20,426
Other prepayments	and accrued income	150,680	302,528
		330,928	515,058

13.CREDITORS: AMOUNTS FALLING DUE WITH	IN ONE YEAR
	2021	2020
Bank loans (note 15)	110,871	123,583
Trade creditors	750,314	408,207
Other creditors	322,202	270,371
Accruals and deferred income	11	11
	1,183,398	802,172

14.CREDITORS: AM	OUNTS FALLING DUE AFTER	ONE YEAR
			2021	2020
Bank loans (note 15)			694,147	804,440
15.BANK LOANS
Loans repayable, included within creditors, are analysed		as follows:	2021	2020
Bank loans repayable Bank loans repayable Bank loans repayable Bank loans repayable	within one year between one to two years between two to five years after more than five years		110,871 36,402 117,316 540,429 805,018	123,583 110,647 111,631 582,162 928,023

16. MOVEMENT IN FUNDS	At	Net	At
	01August	movement	31August
	2020	in funds	2021
Unrestricted funds
General fund	13,881,178	1,180,422	15,061,600
Restricted funds
General	102,667	594,439	697,106
TOTAL FUNDS	13,983,845	1,774,861	15,758,706

Net movemen	t in funds, include	d in the above are:
					Net
		Incoming	Resources	Gains and	movement
		resources	expended	losses	in funds
				E
Unrestricted	funds
General fund		10,169,188	(9,386,625)	397,859	1,180,422
Restricted funds
General		608,439	(14,000)		594,439
TOTAL FUNDS		10,777,627	(9,400,625)	397,859	1,774,861

	Restricted	Unrestricted	2021
Tangible fixed assets	697,106	10,610,727	11,307,833
Securities investments		2,826,982	2,826,982
Net current assets		2,318,038	2,318,038
Long term liabilities		(694,147)	(694,147)
	697,106	15,061,600	15,758,706
	Restricted	Unrestricted	2020
Tangible fixed assets	102,667	10,845,425	10,948,092
Securities investments		2,305,968	2,305,968
Net current assets		1,534,225	1,534,225
Long term liabilities		(804,440)	(804,440)
	102,667	13,881,178	13,983,845

			2021	2020
Future minimum	lease payments	due at the end ofthe period were
Between 1and 5	years		60,262	56,993

			Unrestricted	Restricted	2020
			funds	funds
Income and endowments	from:
Charitable activities
School fees receivable			8,088,657		8,088,657
Ancillary trading income			498,563		498,563
Other trading activities
Non-ancillary trading income			38,116		38,116
Investments			81,692		81,692
Voluntary incoming sources			649,466		649,466
Activities to generate funds			298		298
Total incoming resources			9,356,792		9,356,792
Expenditure on:
Raising funds
Financing costs			40,050		40,050
Investment management			22,796		22,796
Total deductible costs			62,846		62,846
Charitable activities
Education and grant making			9,779,945	14,000	9,793,945
Total expenditure			9,842,791	14,000	9,856,791
Net incoming funds from	operation:		(485,999)	(14,000)	(499,999)
before transfers and investment		gains
Gains on investments			(97,808)		(97,808)
Net movement in funds for the		year	(583,807)	(14,000)	(597,807)
Fund balances brought forward		at	14,464,985	116,667	14,581,652
1July 2019
Fund balances carried forward		at
31August 2020			13,881,178	102,667	13,983,845