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##
|||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||Notes|Funds|Funds|Funds|2021/22|2020/21|
|||||6|f||8|E|
|Income and endowments||from|||||||
|School fees|||2|18,881,336|||18,881,336|16,776,522|
|Other income|||5|2,430,927|||2,430,927|1,896,435|
|Other trading activities|||||||||
|Activities of subsidiaries|||20|150,000|||150,000|150,000|
|Millennium
Boat House||||63,258|||63,258|87,347|
|Investments|||||||||
|Investment
income|||4|65,728|7,618||73,346|61,515|
|Bank and other interest|||4|11,514|||11,514|108|
|Voluntary sources|||||||||
|Donations
and grants|||6|11,829|342,379||354,208|651,177|
|Total incom e||||21,614,592|349,997||21,964,589|19,623,104|
|Expenditure
on:|||||||||
|Activities of subsidiaries|||20|30,431|||30,431|48,556|
|Cost ofraising funds and development||||21,895|||21,895|5,462|
|Cost offinance|||9|273,724|||273,724|235,508|
|Charitable
activities|||||||||
|Education
and grant making||||20,175,691|241,014||20,416,705|18,305,139|
|Total expenditure|||7|20,501,741|241,014||20,742,755|18,594,665|
|Net income||||1,112,851|108,983||1,221,834|1,028,439|
|before
investments|(losses) / gains||||||||
|Investments
(losses) /|gains||11|(40,919)|(6,888)||(47,807)|419,719|
|Net movement
in funds||||1,071,932|102,095||1,174,027|1,448,158|
|Balances brought
forward||||17,858,966|1,499,662|4,444,335|23,802,963|22,354,805|
|Balances carried forward||||18,930,898|1,601,757|4,444,335|24,976,990|23,802,963|
##
||||Notes|2022f|2021
6|2022
6|2021f|
|---|---|---|---|---|---|---|---|
|||||Group|Group|School|School|
|FIXEDASSETS||||||||
|Tangible assets|||10|35,128,503|32,777,300|35,128,503|32,777,300|
|Investments||||1,945,232|2,136,117|1,945,233|2,136 'I18|
|||||37,073,735|34,913,417|37,073,736|34,913,418|
|CURRENT ASSETS||||||||
|Stock||||7,126|8,877|7,126|8,877|
|Debtors|||12|603,688|621,902|556,304|837,251|
|Cash at bank and in hand||||3,697,205|5,459,817|3688,447|5,307,996|
|||||4,308,019|6,090,596|4,251,877|6,154,124|
|CREDITORS: falling due||within one year|13|6,008,068|(5,744,642)|6,006,143|(5,742,817)|
|NET CURRENT|(LIABILITIES)IASSETS|||1,700,049|345,954|1,754,266|411,307|
|TOTAL ASSETSLESSCURRENT LIABILITIES||||35,373,686|35,259,371|35,319,470|35,324,725|
|CREDITORS: falling due||after one year||||||
|Creditors
payable|after one year||14|(9,775,618)|(10,585,126)|(9,775,618)|(10,585,126)|
|Pension scheme|funding|deficit|17|(621,078)|(871,282)|(621,078)|(871,282)|
|TOTAL NET ASSETS||||24,976,990|23,802,963|24,922,774|23,868,317|
|FUNDS||||||||
|Endowment
funds||||||||
|- Permanent|||15|4,444,335|4,444,335|4,444,335|4,444,335|
|Restricted funds|||15|1,601,757|1,499,662|1,601,757|1,499,662|
|Unrestdicted
funds|||15|||||
|-Designated|fixed asset reserves|||20,546,662|17,312,127|20,546,662|17,312,127|
|- Unrestdicted|free reserves|||1,615764|546,839|1,669,980|612,193|
|||||18,930,898|17,858,966|18,876,683|17,924,320|
|||||24,976,990|23,802,963|24,922,774|23,868,317|
##
||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
|||||||||L.|
||Cashf lowe from operating
activities:||||||||
||Net cash provided
by operating
activities|||||(i)|2,846,612|2,648,028|
||Cash flows from investing
activities||||||||
||Purchase oftangible
fixed assets||||||(3,689,362)|(2,216,322)|
||Proceeds from sale oftangible
fixed assets|||||||42,500|
||Proceeds from sale of investments||||||143,078|250,868|
||Bank interest received||||||11,514|108|
||Investment
income||||||73,346|61,515|
||Net cash used in investing
activities||||||(3,461,424)|(1,861,331)|
||Cash flows from financing
activities||||||||
||Net loans repaid||||||(883,333)|(883,331)|
||Interest
paid on loan||||||(264,468)|(219,230)|
||Net cash used in financing
activities||||||(1,147,801)|(1,102,561)|
||Change
in cash and cash equivalents|in the|reporting|period:|||||
||Decrease
in cash in the period||||||(1,762,612)|(315,864)|
||Cash and cash equivalents
at the beginning||ofthe reporting||period||5,459,817|5,775,681|
||Cash and cash equivalents
at the end|ofthe|reporting|period|||3,697,205|5,459,817|
|(i)|Reconciliation
of net income to net cash flow||||||||
||from operating
activities||||||||
||Net income for the reporting
period||||||1,174,027|1,448,155|
||Adjustments
for:||||||||
||Bank interest received||||||(11,514)|(108)|
||Investment
income||||||(73,346)|(61,515)|
||Non-cash
pension
related (credit)/expense||||||(37,000)|188,000|
||Interest paid on loan||||||264,468|219,230|
||Cripplegate
pension deficit contributions||||||(213,204)|(208,038)|
||Unrealised
losses / (gains) on investments||||||49,787|(378,618)|
||Realised
gain on investments||||||(1,980)|(41,101)|
||Depreciation
charge||||||1,338,159|1,208,417|
||Profit on sale offixed assets|||||||(39,812)|
||Decrease
in stock||||||1,751|9,024|
||Decrease
/ (increase)
in debtors||||||18,214|(183,659)|
||Increase
in creditors||||||337,250|488,053|
||Net cash flow from operations||||||2,846,612|2,648,028|
##
##
##
##
##
##
|
estimated
useful lives, which are as|
follows:|
|---|---|
|Buildings|50years|
|Boiler plant|20 years|
|Tractors|15years|
|Other plant and equipment|10years|
|Portakabins|5years|
|Rowing equipment|5years|
|Security system|5years|
|Motor Vehicles|4 years|
|IT Equipment|3years|
##
##
##
##
##
##
##
##
##
##
|(a)|The School's|fee|income|income|comprised:|comprised:|||2022||2021||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||6||||
||Gross fees||||||||20,557,161|18,827,257|||
||Less: Governors'
Less: Bursaries,||general discounts
scholarships
and staff remissions||||||~1997,245|(627,954)
~7,592,297|||
||||||||||18,665,916|16,607,006|||
||Add back bursaries|||and|scholarships||paid by restricted|funds|215,420||169,516||
||||||||||18,881,336|16,776,522|||
||||||||||Paid by|Paid by|||
||||||||||general|restricted|||
||||||||||funds|funds|Total|2022|
|||||||||||||8|
|(b)|Means-tested|bursaries|||and|hardship|awards||1,263,723|204,000|1,467,723||
||Scholarships||||||||292,181|11,420|303,601||
||Staff remissions||||||||119,921||119,921||
||||||||||1,675,825|215,420|1,891,245||
||||||||||Paid by|Paid by|||
||||||||||general|restricted|||
||||||||||funds|funds|Total|2021|
||||||||||F|||6|
||Means-tested|bursaries|||and|hardship|awards||1,045,641|163,483|1,209,124||
||Scholarships||||||||276,893|6,033|282,926||
||Staff remissions||||||||100,247||100,247||
||||||||||1,422,781|169,516|1,592,297||
##
||||2022|2021|
|---|---|---|---|---|
||||E|E|
|Turnover|||958,275|587,729|
|Cost of sales|||(920,647)|(628,001)|
|Gross profit I|(loss)||37,628|(40,272)|
|Other operating|income - donation|from shareholders|65,000||
|Administrative|expenses||(26,784)|(23,743)|
|Profit I(loss)|before donation||75,844|(64,015)|
|Gfi aid payable|||(11,829)||
|Profit I(loss)|after donation||64,015|(64,015)|
||||2022|2022|
|Current assets|||8|E|
|Debtors|||2,233|1,815|
|Cash at bank and in hand|||37,619|17,614|
||||39,852|19,429|
|Current
liabilities|||(8,210)|(51,802)|
|Net assets/(liabilities)|||31,642|32,373)|
|Capital and reserves:|||||
|Called
up share capital|||31,642|31,642|
|Profit and loss|account|||(64,015)|
||||31,642|(32,373)|
##
|||||2022|2021|
|---|---|---|---|---|---|
|||||E|E|
|Dividends|from UK investment||portfolio|73,346|61,515|
|Bank interest||||11,514|108|
|||||84888|61,622|
|OTHER|INCOME|||||
|||||2022|2021|
|||||8|E|
|Charitable
activities||||||
|Other educational||income||153,269|45,155|
|Registration
fees||||103,414|108,307|
|Rental income||||161,883|85,804|
|Ancillary|income|||2,012,362|1,657,169|
|||||2 428 822|1,896,435|
##
##
|INCOME F|ROM VOLUNTARY SOURC|ES||
|---|---|---|---|
|||2022|2021|
|||8|6|
|Donations|and grants|||
|Donations||354,208|437,581|
|Government|grants||213,596|
|||384288|651,177|
##
##
||||||Depreciation||
|---|---|---|---|---|---|---|
||||||arid||
||||Staff costs|Other costs|impairment|2022|
||||Note 8||||
||||6|6|6|6|
|Activities|ofsubsidiaries|||30,431||30,431|
|Cost ofraising funds and development||||21,895||21,895|
|Cost offinance||||273,724||272 724|
|||||326,050||326,050|
|Charitable|activities||||||
|Education|and grant making||||||
|Teaching|||10,988,611|1,178,851||12,167,462|
|Other educational||expenditure||128,103||128,103|
|Welfare||||849,201||849,201|
|Premises|and estates||1,026,833|1,714,313|1,338,159|4,079,305|
|Millennium|Boathouse|||128,261||128,261|
|Support costs"|||1,920,392|1,090,620||3,011,012|
|Governance
costs|||19582|33778||53,360|
||||13,955,418|5,123,127|1,338,159|20,416,705|
||||13,955,418|5,449,177|1,338,159|20,742,755|
||||||Depreciation||
||||||and||
||||Staff costs|Other costs|impairment|2021|
|||||||f|
|Activities|ofsubsidiaries|||48,556||48,556|
|Cost ofraising funds and development||||5,462||5,462|
|Cost offinance||||235,508||235,508|
|||||289,526||289,526|
|Charitable|activities||||||
|Education|and grant making||||||
|Teaching|||10,128,103|935,332||11,063,435|
|Other educational||expenditure||41,109||41,109|
|Welfare||||635,152||635,152|
|Premises|and estates||996,460|1,258,934|1,208,417|3,463,811|
|Millennium|Boathouse|||179,472||179,472|
|Support costs'|||1,797,193|1,078,095||2,875,288|
|Governance
costs|||18258|28614||46 872|
||||12.940,014|4,156,708|1,208,417|18,305,139|
||||12,940,014|4,446,234|1,208,417|18,594,665|
|Governance
costs include:||||2022
6|2021f||
|Audit fees||||26,280|25,020||
|Salaries+||||19,582|18,258||
|Governors'|expenses|||1,965|1,036||
|Other governance||costs||5,533|2,558||
|||||53,360|46,872||
##
##
|STAFF C|OSTS|||||||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||6||
|Wages and salaries||||||10,841,921|10,074,044|
|Social security costs||||||1,159,633|1,035,832|
|Life assurance
and private|||medical|cover||37,093|34,266|
|Pension costs||||||1,916,771|1,795,872|
|||||||13,955,418|12,940,014|
|Aggregate|employee-benefits||of key management||personnel|K1 556$14|E1,456,885|
|The average
number||of employees||during the year|was:|||
|Teaching|staff|||||174|164|
|Teaching|assistants|||||32|28|
|Support staff||||||130|133|
|||||||336|325|
|The following
number||of employees||exceeding F60,000 emoluments:||||
|860,001 -|670,000|||||22|19|
|670,001 -|680,000|||||3|3|
|680,001 -|690,000|||||3|3|
|f100,001|- 5110,000|||||1|1|
|6150,001|- 5160,000|||||1|1|
|f160,001|- 6170,000|||||1||
|6220,001|- 8230,000|||||||
|f.'230,001|- 6240,000|||||||
##
##
|COST OF FINANCE||||
|---|---|---|---|
|||2022f|2021
f|
|Fees In Advance Scheme debt-financing|cost|9,256|11,278|
|Bank loan interest||264,468|219,230|
|Pension scheme financing cost|||5,000|
|||273 724|235.506|
|||||||
|---|---|---|---|---|---|
|Group and Sc|hool||Tangible|Assets||
|||Freehold|Motor|Assets||
|||Land &|Vehicles|Under|2022|
|||Buildings|& Equipment|Construction|Total|
||||||f|
|Cost or valuation||||||
|At 1 September|2021|40,933,084|4,317,684|105,055|45,355,823|
|Additions||3,231,246|458,116||3,689,362|
|At 31August 2022||44,164,330|4,775,800|105,055|49045 185|
|Depreciation||||||
|At 1 September|2021|9,357,828|3,220,695||12,578,523|
|Charge
in year||937,686|400,473||1,338,159|
|At 31 August 2022||10,295,514|3,621,168||13016601|
|Net book value|at 31 August 2022|33,868,816|1,154,632|105,055|35128503|
|Net book value|at 31 August 2021|31,680,313|1,096,987||32 777 300|
##
|Group investments
- market value|2022f|2021
f|
|---|---|---|
|At 1 September|2,104,475|1,935,624|
|Liquidations|(143,078)|(250,868)|
|Unrealised
(losses) / gains in market value|(49,787)|378,618|
|Realised gains on investment|1,980|41,101|
||1,913,590|2,104,475|
|Investment
in joint venture
(note 3)|31,642|31,642|
|Group Investments
at 31August|1,945,232|2,136,117|
|Investment
in subsidary|||
|School Investments
at 31 August|1,945,233|2,136,118|
##
||||Group|Group|School|School|
|---|---|---|---|---|---|---|
||||2022
f|2021f|2022f|2021
f|
|Fees receivable|||20,677|6,176|20,677|6,176|
|Amounts
owed by subsidiary||and affiliated|||||
|companies||||94,782|102,656|310,176|
|Other debtors|||249,002|100,232|98,962|100,187|
|Prepayments|and accrued|income|334,009|420,712|334,009|420,712|
||||603,688|621,902|556,304|837,251|
##
##
##
|||||Group|Group|School|School|
|---|---|---|---|---|---|---|---|
|||||2022|2021|2022|2021|
||Amounts
falling due within
1 Year|||8|E|E||
||Advance fees|||1,247,224|1,889,275|1,247,224|1,889,275|
||Fees in Advance Scheme|||383,533|388,131|383,533|388,131|
||Trade creditors|||1,069,411|646,005|1,069,411|646,005|
||Other creditors|||661,930|540,874|661,930|540,874|
||Place deposits refundable|||1,220,600|1,229,100|1,220,600|1,229,100|
||Bank loan|||883,333|883,333|883,333|883,333|
||Accruals|||542,037|167,924|540,112|166,099|
|||||6,008,068|5,744,642|6,006,143|5742 817|
||Advance fees refers tofees received||in a given|year which relate|to the provision|of education|in the immediately|
||following academic year.|||||||
||Fees received which relate|to the provision ofeducation
in more|||than one future|academic year are reported
as||
||Fees in Advance Scheme (also see||note 14).|||||
|14.|CREDITORS|||Group|Group|School|School|
|||||2022|2021|2022|2021|
||Amounts
falling due after|1 year||||6|E|
||From one to two years:|||||||
||Fees in Advance Scheme|||249,819|191,593|249,819|191,593|
||Bank loan|||883,333|883,333|883,333|883,333|
|||||1 133,152|1.074.926|1,133,152|1,074,926|
||From two to five years:|||||||
||Fees in Advance Scheme|||271,627|256,029|271,627|256,029|
||Bank loan|||8,370,839|7,004,167|8,370,839|7,004,167|
|||||8842 466|7260 196|8 842 466|7260 196|
||More than five years:|||||||
||Bank loan||||2,250,004||2,250,004|
|||||9,775,618|10,585,126|9,775,618|10,585,126|
##
##
##
##
||||Tangible||Net Current|Long Term|Pension||
|---|---|---|---|---|---|---|---|---|
||||Fixed Assets|Investments|Liabilities|Creditors|Liability|Total 2022|
||||||||E||
|Unrestricted|funds||||||||
|Designated
Unrestricted||fixed asset reserves
free reserves|30,684,168|1,726,084|(883,333)
~2, 199324|(9,254,173)
~521,445|~021,070|20,546,662
~6775370|
||||30,684,168|1,726,084|(3,082,657)|(9,775,618)|(621,078)|18,930,899|
|Restricted funds||||219,148|1,382,609|||1,601,757|
|Endowment|funds||||||||
|Permanent||endowment|4,444,335|||||4,444,335|
||||35,128,503|1,945,232|(1,700,049)|(9,775,618)|(621,078)|24,976,991|
||||Tangible|||Net Current|Long Term|Pension||
|---|---|---|---|---|---|---|---|---|---|
||||Fixed Assets||Investments|Assets|Creditors|Liability|Total 2021|
|||||||||E||
|Unrestricted|funds|||||||||
|Designated
Unrestricted||fixed asset reserves
free reserves|28,332,965||1,910,080|(883,334)
-,33|(10,137,504)
~44,622|~81,282|17,312,127
546,839|
||||28,332,965||1,910,080|(927,671)|(10,585,126)|(871,282)|17,858,966|
|Restricted|funds||||226,037|1,273,625|||1,499,662|
|Endowment|funds|||||||||
|Permanent||endowment|4,444,335||||||4,444,335|
||||32777 3DII|.|2..136,117|345,054|~10,500,126|~871282|23.092,.963|
##
|Movement
in funds|||||||||
|---|---|---|---|---|---|---|---|---|
||2021|||||||2022|
||Balance||||||||
||Brought||||||Investment|Balance carried|
||Forward|||Income|Expenditure|Transfers|losses|forward|
|Endowment
funds|2||||2|2||5|
|Land 8 buildings|4,444,335|||||||4,444,335|
||4,444,335|||||||4444 335|
|Restricted funds|||||||||
|Bursary funds
Building funds
Sundry restricted funds|1,169,320
76,411
253,931
1,499062||326,075
5,000
8,922
349997||(204,000)
(15,958)
~21,
6
~241 014||(4,584)
~30
6,888|1,286,811
65,453
249493
1 801757|
|Unrestricted
funds|||||||||
|Designated
fixed asset reserves
Unrestricted
free reserves
Totalfunds|17,312,127
546839
,858,866
23802963|21,614592
21,614,592
211164589|||~20501,741
~20,501,747
~20
42
55|3,234,535
~3234, 3|~0,
~40,919
~47,807|20,546,662
1.515. 84
18,930898
24976990|
||2020|||||||2021|
||Balance||||||||
||Brought||||||Investment|Balance carried|
|Endowment
funds|Forward
2|||Income
2|Expenditure
2|Transfersf|gains|forward
2|
|Land & buildings|4,444,335|||||||4444 335|
||4,444,335|||||||4444 335|
|Restricted funds|||||||||
|Bursary funds|991,187||319,344||(163,483)||22,272|1,169,320|
|Building funds
Sundry restricted funds|17,229
232,147
1,240, 63||80,000
, 8
443,626||(20,818)
~38,368||16,870
39142|76,411
253931
1499682|
|Unrestricted
funds|||||||||
|Designated
fixed asset reserves
Unrestricted
free reserves
Total funds|15,423,579
1,246,328
6,669,90
9,
9,
8
22,3,0,
,
19179478||||~8,3 0,996
~8,576,005
~18370906|1,888,548
~1,888548|360,577
380,577
419,719|17,312,127
546839
17858966
23,802,983|
##
##
|the liabilitie|s
is assessed|as:|||
|---|---|---|---|---|
||~DD15|1|~DDtti
5-5|~55
5|
|2021/22
2020/21|K12,900
212,424||651,600
f49,694|K1,277,100
f1,242,350|
||||||Equipment|Equipment|
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||6|f|
|Contracts|due|to|expire|in less than one year|29,542|34,026|
|Contracts|due|to|expire|within one and two years|13,146|1,670|
|Contracts|due|to|expire|in two to five years||107|
||||||42,689|35,803|
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|||||2022|2021||
|---|---|---|---|---|---|---|
|||||6|E||
|Movements|during the||year:||||
|Balance at|start of|year||871,282|891,320||
|Unwinding|of the discount rate|||4,000|5,000||
|Contributions
paid||||(213,204)|(208,038)||
|Additional
funding||(credit)/charge||41 000|183,000||
|Balance at|end of year|||621 078|871,282||
|The amounts
recognised
in the SOFA for the years ended 31August 2022 and 31August 2021||||||were|
|as follows:|||||||
|||||2022|2021||
|||||||E|
|Amount
recognised|||in the SOFA:||||
|Unwinding|of the|discount rate||4,000|5,000||
|Additional|funding|(credit)/charge||(41,000)|183,000||
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|Year ended 31August 2021|Year ended 31August 2021|Unrestrictedf|Restricted|Endowment
8|Funds Total
6|
|---|---|---|---|---|---|
|Income and endowments|from:|||||
|School fees||16,776,522|||16,776,522|
|Other income||1,896,435|||1,896,435|
|Other trading
activities||||||
|Activities of subsidiaries||150,000|||150,000|
|Millennium
Boat House||87,347|||87,347|
|Investments||||||
|Investment
income||55,470|6,045||61,515|
|Bank and other interest||108|||108|
|Voluntary sources||||||
|Donations
and grants||213,596|437,581||651,177|
|Total income||19,179,478|443,626||19623 104|
|Expenditure
on:||||||
|Activities of subsidiaries||48,556|||48,556|
|Cost of raising funds and development||5,462|||5,462|
|Cost of finance||235,508|||235,508|
|Charitable
activities||||||
|Education and grant making||18,081,470|223,669||18,305,139|
|Total expenditure||18,370,996|223,669||18594665|
|Net Income from operations||808,482|219,957||1,028,439|
|before investments
gains||||||
|Gains on investments||380,577|39,142||419,719|
|Net movements
in funds for the year||1,189,059|259,099||1,448,158|
|Balances brought
forward||16,669,907|1,240,563|4,444,335|22 354 805|
|Balances carried forward||17,858,966|1,499,662|4,444,335|23802963|
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##
|||Balance at 1||Debt|Balance st 31|
|---|---|---|---|---|---|
|||September 2021|Cash-flow|Reclasslftcation|August 2022|
|Cash|at bank|5,459,817|(1,762,612)||3,697,205|
|Loans|falling due within one year|(883,333)|883,333|(883,333)|(883,333)|
|Loans|falling due after more than one year|(10,137,506||883,333|9,254,173|
|||5,581,022|879,279||6,440,301|
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