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|||P~ae|
|---|---|---|
|Report ofthe Governors||2-14|
|Report of the Independent|Auditors|15-19|
|Statement of Financial Activities||20|
|Balance Sheet||21|
|Cash Flow Statement||22|
|Notes to the Financial Statements||23-35|
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|Ms Lorraine Clews|
|---|
|Dr SEdmends MBBS,FRCA, MMedSci(Keele) (to30Jun22)|
|Mr RTaster|
|Mr DRHolland
MA|
|Mrs M Jones BSc(Hone), PGCE|
|Mr IGRMacDonald LL.B,Di .LP, MBA|
|Mr AMcGowan|
|Mrs KA Miller BSc,ACA (Vice-Chair)|
|Mr GENevt LL.B|
|Miss A
Steele BA(Hone), PGCE (from 30Jun22)|
|Mr DPWallbank BA(Chair)|
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|Mission|statement.|Our mission is togive all our pupils 'the best start in life'.|||
|---|---|---|---|---|
|Intended|impact.|The five characteristics
of the School vision have been stated|as:||
|||Excellent academic achievement
and co-curricular
activity, within an|||
|||aspirational
culture which values participation
and success|||
|||Happy confident pupils|||
|||Very strong home-school
partnership|||
|||A purposeful,
caring, calm and friendly ethos|||
|||Professional,
specialist dedicated
staff who give 'above and beyond'|||
|Ethos:||We have a set ofshared and agreed school characteristics,
which are what|||
|||define the School's ethos:|||
|||The happiness
ofour pupils|||
|||We are a 'Family School': we have family connections
which|stretch back||
|||over generations|||
|||We know our pupils|||
|||Our pupils achieve and we value their achievement|||
|||We are not an examination
factory: we believe in providing,|and we do||
|||provide, a rich variety ofout ofclass or co-curricular
activity|||
|||We contribute to the wider community
and are a local school|||
|||Our ethos is grounded,
down toearth, unpretentious|||
|||Our bursary
programme
enables us tomaintain
a wide social mix ofpupils||in|
|||the Senior School|||
|||Our staff are highly dedicated and give a great deal 'out ofhours' support|||
|||and care|||
|||We have high expectations
and a climate ofhard work. Hard work is valued|||
|||by pupils.|||
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|||2021-22|2020-21|2019-20|2018-19|2017-18|
|---|---|---|---|---|---|---|
|Senior School||579|579|551|566|598|
|Pre arator|School|221|208|221|239|242|
|Total||800|787|772|805||
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||||Note|Unrestricted|Restricted|2022|2021|
|---|---|---|---|---|---|---|---|
|||||funds|funds|Total|Total|
||||||6|E||
|Income and endowments|from:|||||||
|Charitable
activities||||||||
|School fees receivable||||9,588,025||9,588,025|8,978,223|
|Ancillary
trading income||||698,771||698,771|386,074|
|Other trading activities||||||||
|Non-ancillary
trading
income||||65,537||65,537|3,561|
|Investments||||62,507||62,507|56,569|
|Voluntary
incoming sources||||141,137|2,192,589|2,333,726|1,349,805|
|Activities to generate funds|||||||3,395|
|Total incoming resources||||10,555,977|2,192,589|12,748,566|10,777,627|
|Expenditure
on:||||||||
|Raising funds||||||||
|Financing costs||||39,536||39,536|32,172|
|Investment
management||||20,788||20,788|16,440|
|Total deductible
costs||||60,324||60,324|48,612|
|Charitable
activities||||||||
|Education and grant making|||8|9,949,711|14,000|9,963,711|9,352,013|
|Total expenditure||||10,010,035|14,000|10,024,035|9,400,625|
|Net incoming funds fmm|operation:|||||||
|before transfers and investment||gains||545,942|2,178,589|2,724,531|1,377,002|
|(Loss)/Gain on investments||||(257,833)||257,833|397,859|
|Net movement
in funds for the||year||288,109|2,178,589|2,466,698|1,774,861|
|Fund balances brought forward||at||||||
|1September 2021||||15,061,600|697,106|15,758,706|13,983,845|
|Fund balances carried forward||at||||||
|31August 2022||||15,349,709|2,875,695|18,225,404|15,758,706|
##
|AS AT31AUGUST|2022||||
|---|---|---|---|---|
|||Note|31Aug 2022|31Aug 2021|
||||Total|Total|
||||E|6|
|FIXEDASSETS|||||
|Tangible assets
Securities investments||10
11|13,766,296
2555,832|11,307,833
2,826,982|
||||16,322,128|14,134,815|
|CURRENT ASSETS
Stock
Debtors
Securities investments|—cash balances|12
11|17,716
397,224
45,907|13,467
330,928
53,378|
|Cash and deposits|||'3,300,953
3,761,800|3,103,663
3,501,436|
|CURRENT LIABILITIES|||||
|Amounts
falling due within one year||13|1,190,384)|1,183,398|
|NET CURRENT ASSETS|||2,571,416|2,318,038|
|TOTAL ASSETS LESSCURRENT LIABILITIES|||18,893,544|16,452,853|
|LONG TERM LIABILITIES
Creditors payable after one year||14|(668,140)|(694,147)|
|NET ASSETS|||18,225,404|15,758,706|
|REPRESENTED BY:|||||
|Unrestricted
funds
Restricted funds|||15,349,709
2,875,695|'I5,061,600
697,106|
|||16|18,225,404|15,758,706|
|||||2022||2021|
|---|---|---|---|---|---|---|
|Cash flows from operating activities|||||||
|Net cash provided by operating|activities|||3.123,317||2,352,789|
|Cash flows from investing
activities|||||||
|Dividends
and interest from investments|||60,582||56,263||
|Purchase ofproperty,
plant and|equipment||(2,896,513)||(809,398)||
|Investment
management
fees|||20,788||19,940||
|Net cash provided (used in) investing||activities||(2,815,143)||(733,195)|
|Cash flows from financing
activities|||||||
|Repayments
ofborrowing|||(110,884)||(123,005)||
|Net cash provided by (used in)|financing activities|||(110,884)||(123,005)|
|Change in cash and cash equivalents||||19'7,290||1,496,589|
|Cash in hand at 01September 2021||||3,103,663||1,607,074|
|Cash in hand at31August 2022||||3,300,953||3,103,663|
|Reconciliation ofnet income to|net cash flow from||o erations||||
|Net incoming
funds as per the Statement ofFinancial Activities||||2,724,531||1,377,002|
|Adjustments
for:|||||||
|Depreciation
charges|||438,050||449,657||
|Dividends
and interest from investments|||(60,582)||(56,263)||
|(Increase)/decrease
in stocks|||(4,249)||4,325||
|(Increase)/decrease
in debtors|||(66,296)||184,130||
|Increase/(decrease)
in creditors|||91,863||393,938||
|||||398,786||975,787|
|Net cash provided by operating|activities|||3,123,317||2,352,789|
|Anal
sis ofchan es in net debt|||||||
|||||At 1Sep2021|Cash flows|At 31Aug2022|
|Cash and cash equivalents|||||||
|Cash||||3,103,663|197,290|3,300,953|
|Borrowings|||||||
|Debts due within one year||||(110,871)|84,877|(25,994)|
|Debts due after one year||||(694,147)|26,007|(668,140|
|Total||||2,298,645|308,174|2,606,819|
|The|notes form part ofthese financial statements||||||
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|2. SCHOOL FEESRECEIVABLE|2. SCHOOL FEESRECEIVABLE|2022|2021|
|---|---|---|---|
|Fees receivable consist of:||||
|School fees||10,359,177|9,729,565|
|Less:total scholarships,|bur saries and concessions|(771,152)|(751,342)|
|||9,588,025|8,978,223|
|3. ANCILLARY TRADING INCOME||2022|2021|
|Catering income||642,797|336,575|
|Out ofhours school care||12,753|19,042|
|Sundry income||43,221|30,457|
|||698,771|386,074|
|4. NON ANCILLARY TRADING INCOME||2022|2021|
|||6||
|Rents and lettings||65,537|3,561|
|5. INVESTMENT INCOME||2022|2021|
|||6|E|
|Investments||60582|56263|
|Bank interest||1,925|306|
|||62,507|56,569|
|6.VOLUNTARY INCOMING RESOURCES||2022|2021|
||||6|
|Job Retention Scheme grant|||157,492|
|Bequests and legacies||135,885|550,000|
|Grants drawn in respect|ofnew Sports Hall|2,192,589|608,439|
|Planning
fees reimbursed|||24,664|
|Other income, donation|and grants|3,260||
|Gifts in kind for the School's own use||1,992|9,210|
|||2,333,726|1,349,805|
|7. ACTIVITIES TO GENERATE FUNDS||2022|2021|
|Fundrai sing proceeds||||
|Sundry donations
raised|||3,395|
##
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|8. ANALYSIS OF EXPE|NDITURE|||||
|---|---|---|---|---|---|
|||Staff costs|Depreciation|Other|2022|
|||(note 9)|(note 10)|||
||||E|||
|(a) Total Expenditure||||||
|Cost ofgenerating
funds||||||
|Financing costs||||39,536|39,536|
|Investment
management||||20,788|20,788|
|Total cost ofgenerating|funds|||60,324|60,324|
|Charitable
expenditure||||||
|Education and grant making||||||
|Teaching||6,180,186|76,736|724,470|6,981,392|
|Welfare||347,720||331,266|678,986|
|Premises repair and maintenance||517,138|68,249|638,623|1,224,010|
|Support costs and governance||480,542|293,065|305,716|1,079,323|
|Total charitable
expenditure||7,525,586|438,050|2,000,075|9,963,711|
|Total expended||7,525,586|438,050|2,060,399|10,024,035|
||||||2021|
|Cost ofgenerating
funds||||||
|Financing costs||||32,172|32,172|
|Investment
management||||16,440|16,440|
|Total cost ofgenerating|funds|||48,612|48,612|
|Charitable
expenditure||||||
|Ed.ucation and grant making||||||
|Teaching||6,011,011|86,186|489,365|6,586,562|
|Welfare||291,224||213,946|505,170|
|Premises repair and maintenance||542,367|70,406|571,089|1,183,862|
|Support costs and governance||419,706|293,065|363,648|1,076,419|
|Total charitable
expenditure||7,264,308|449,657|1,638,048|9,352,013|
|Total expended||7,264,308|449,657|1,686,660|9,400,625|
|(b) Governance
included|in support costs|||2022|2021|
|||||E||
|Remuneration
paid to auditor for audit services||||13,530|12,162|
|Reimbursement
ofpersonal expenses to Governors||||||
|Other governance
costs||||14,091|12,434|
##
|9, STAFFCOSTS||2022|2021|
|---|---|---|---|
||||E|
|The aggregate
payroll|costs for the year were:|||
|Wages and salaries||5,680,955|5,483,715|
|Benefits in kind||354,176|311,787|
|Social security costs||545,487|508,397|
|Other pension costs||942,689|926,071|
|Redundancy/termination|payments|2,279|34,338|
|||7,525,586|7,264,308|
|||||2022|2021|
|---|---|---|---|---|---|
|Aggregate
employee benefits ofkey management|||personnel|6767,341|6759,974|
|Number
ofhigher paid employees|in bands of:|||||
|E60,001to F70,000||||||
|670,001to 680,000||||||
|F100,001to 6110,000||||||
|F120,001toE130,000||||||
|The average number ofthe School's|employees|during the year, was||||
|Teaching staff||||88|89|
|Administration||||11|11|
|Support staff||||112|115|
|||||211|215|
##
|10. TANGIBLE FIXEDAS|SETS|||||
|---|---|---|---|---|---|
||||Educational|Assets in the||
|||Non-|books,|course of||
||Freehold|educational|equipment|construction||
||property|equipment|and furniture||Totals|
||E|5|f.||E|
|Cost or fmzen valuation||||||
|At 01September 2021|13,879,326|1,190,758|1,731,822|812,206|17,614,112|
|Additions||78,315|125,735|2,692,463|2,896,513|
|Disposals||(21,915)|||(21,915)|
|At 31August 2022|13,879,326|1,247,158|1,857,557|3,504,669|20,488,710|
|Depreciation||||||
|At 01September 2021|4,339,390|885,412|1,081,477||6,306,279|
|Charge for the year|293,065|68,249|76,736||438,050|
|Eliminated
on disposal||(21,915)|||{21,915)|
|At 31August 2022|4,632,455|931,746|1,158,213||6,722,414|
|Net Book Value||||||
|At 31August 2022|9,246,871|315,412|699,344|3,504,669|13,766,296|
|At 31August 2021|9,539,936|305,346|650,345|812,206|11,307,833|
##
||2022|2021|
|---|---|---|
|11.INVESTMENTS|E||
|Market Value 1September 2021|2,880,360|2,502,441|
|New money invested|||
|Reinvested
income|||
|Amounts
extracted|||
|Investment
management
fees|(20,788)|(19,940)|
|(Decrease)/Increase
in the value of investments|(257,833)|397,859|
|Market Value 31August 2022|2,601,739|2,880,360|
|Investments
held in the portfolio are as follows:|||
|Stocks and shares|2,555,832|2,826,982|
|Cash|45,907|53,378|
||2,601,739|2,880,360|
##
|12. DEBTORS:A|MOUNTS FAI.LING DUE WITHIN ONE YEAR|||
|---|---|---|---|
|||2022|2021|
|Fees and extras||255,492|174,291|
|Other debtors||2,786|5,957|
|Other prepayments|and accrued income|138,946|150,680|
|||397,224|330,928|
|13.CREDITORS:|AMOUNTS FALLING DUE WITHIN ONE YEAR|||
|||2022|2021|
|Bank loans (note 15)||25,995|110,871|
|Trade creditors||603,079|750,314|
|Other creditors||561,299|322,202|
|Accruals and deferred income||11|11|
|||1,190,384|1,183,398|
##
|14.CREDITORS: AM|OUN|TS FALLING DUE AFTER ONE YEAR|||
|---|---|---|---|---|
||||2022|2021|
||||6||
|Bank loans (note 15)|||668,140|694,147|
|15.BANK LOANS|||||
|Loans repayable,
included||within creditors, are analysed as follows:||2021|
|Bank loans repayable|within one year||25,995|110,871|
|Bank loans repayable|between one to two years||27,003|36„402|
|Bank loans repayable|between two to five years||87,454|117,316|
|Bank loans repayable|after|more than five years|553,683|540,429|
||||694,135|805,018|
|16. MOVEMENT IN FUNDS|At|Net|At|
|---|---|---|---|
||01September|movement|31August|
||2021|in funds|2022|
|Unrestricted
funds||||
|General fund|15,061,600|288,109|15,349,709|
|Restricted funds||||
|General|697,106|2,178,589|2,875,695|
|TOTALFUNDS|15,758,706|2,466,698|18,225,404|
|Net movemen|t
in funds, include|d
in the above are:||||
|---|---|---|---|---|---|
||||||Net|
|||Incoming|Resources|Gains and|movement|
|||resources|expended|losses|in funds|
|||E|E|f||
|Unrestricted|funds|||||
|General fund||10,555,977|(10,010,035)|(257,833)|288,109|
|Restricted funds||||||
|General||2,192,589|14,000)||2,178,589|
|TOTAL FUNDS||12,748,566|(10,024,035|(257,833|2,466,698|
##
||Restricted|Unrestricted|2022|
|---|---|---|---|
|Tangible fixed assets|2,875,695|10,890,601|13,766,296|
|Securities investments||2,555,832|2,555,832|
|Net current assets||2,571,416|2,571,416|
|Long tenn liabilities||(668,140)|(668,140)|
||2,875,695|15,349,709|18,225,404|
||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|
##
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|||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|
|Contracted|but|not|provided|in|the|financial|statements|346,466|2,918,330|
##
|20. OPERATING|LEASE COMM|ITMENTS|||
|---|---|---|---|---|
||||2022|2021|
||||6||
|Future minimum|lease payments|due at the end ofthe period were|||
|Within one year|||19,987||
|Between I and 5|years||14,051|60,262|
||||34,038|60,262|
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|||||Unrestricted|Restricted|2021|
|---|---|---|---|---|---|---|
|||||funds|funds||
|||||6|E|E|
|Income and endowments||from:|||||
|Charitable
activities|||||||
|School fees receivable||||8,978,223||8,978,223|
|Ancillary
trading income||||386,074||386,074|
|Other trading activities|||||||
|Non-ancigary
trading|income|||3,561||3,561|
|Investments||||56,569||56,569|
|Voluntary
incoming sources||||741,366|608,439|1,349,805|
|Activities to generate|funds|||3,395||3,395|
|Total incoming resources||||10,169,188|608,439|10,777,627|
|Expenditure
on:|||||||
|Raising funds|||||||
|Financing costs||||32,172||32.172|
|Investment
management||||16,440||16,440|
|Total deductible
costs||||48,612||48,612|
|Charitable
activities|||||||
|Education and grant making||||9,338,013|14,000|9,352,013|
|Total expenditure||||9,386,625|14,000|9,400,625|
|Net incoming funds from||operation:||782,563|594,439|1,377,002|
|before transfers and investment|||gains||||
|Gains on investments||||397,859||397,859|
|Net movement
in funds forthe|||year|1,180,422|594,439|1,774,861|
|Fund balances brought|forward||at|13,881,178|102,667|13,983,845|
|1September 2020|||||||
|Fund balances carried|forward||at||||
|31August 2021||||15,061,600|697,106|15,758,706|