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||||Page|
|---|---|---|---|
|Governors,
officers|and|organisation|1-2|
|Governors'
report|||9-7|
|Statement ofGovernors'||responsibilities||
|Independent
auditors'|report||10-12|
|Statement offinancial|activities||13|
|Balance sheet|||14|
|Cash flow statement|||15-16|
|Notes to the accounts|||17-$1|
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|||Unrestricted|Restricted|Endowment||Total|Total|
|---|---|---|---|---|---|---|---|
|||Funds|Funds|Funds||2022|2021|
||Notes|R'000|R'000|K'000||R'000|E'000|
|Income and endowments||||||||
|from:||||||||
|Donations and legacies||1,263|34|||1,297|322|
|Investment
income||16|26|||42|25|
|Charitable
activities:||||||||
|School fees|3|15,010|||15,010||14,232|
|Ancillary
trading
income|4|502||||502|278|
|Other incoming
resources|5|189|25|||214|190|
|Total incoming
resources||16980|85||17065||15047|
|Expenditure
on:||||||||
|Raising funds||||||||
|Costs offundraising||4||||4|4|
|Ancillary
trading costs||7B3||||783|502|
|Financing costs||600||||601|790|
|||1,367||||1,368|1,296|
|Charitable
activities||||||||
|Education and grant making||13884|73||13957||13,252|
|Total resources expended||15251|74||1|325|14548|
|Net incoming
resources||1,729||||1,740|499|
|from operations
before||||||||
|transfers
and investment||||||||
|gains||||||||
|Gains/(Loss)
on investment||||||(12)|116|
|assets||||||||
|Gain on disposal ofland and|||||||2,275|
|buildings||||||||
|Transfer between
funds||||||||
|Net movement
in funds||1,729||(6)||1,728|2,890|
|Fund balances at 1 August||45,172||519|46,235||43,345|
|2021||||||||
|Fund balances at 31Suly||46,901||513|47,963||46,235|
|2022||||||||
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||||||2022|||2021||
|---|---|---|---|---|---|---|---|---|---|
|||||Nates|R'000|R'000|6'000|E'000||
|Fixed assets||||||||||
|Tangible assets||||9||62,108||63,517||
|Investments||||10||746|||758|
|||||||62,854||64,275||
|Current assets||||||||||
|Assets held for resale||||||||||
|Debtors|||||1,640||683|||
|Cash at bank and|in hand||||~7677||9354|||
||||||9,317||10,037|||
|Creditors: amounts||falling|due within|||||||
|one year:||||12|7732||1078]|||
|Net current (liabilities)/assets||||||~1585|||744|
|Total assets less|current||liabilities|||64,439||63,531||
|Creditors: amounts||falling|due after|13||16476||17|296|
|more than one year||||||||||
|Net assets||||||||||
|Endowment
funds||||17||513|||519|
|Restricted funds||||18||||||
|Unrestricted
funds||||||~46901||45|172|
|||||||||~5||
|The accounts were|approved||and authorised|for issue by the Board on||af„+4:tsrvhty||2QU,||
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|||||||2022||2021||
|---|---|---|---|---|---|---|---|---|---|
||||||Notes|f'000|f'000|f'000|f'000|
|Net cash (ouNow)/inflow||||from|||(70)||(1,031)|
|operating
activities||||||||||
|Cash flows from investing||||activities||||||
|Financing costs||||||(601)||(790)||
|Investment
income||||||26||24||
|Interest received||||||16||1||
|Net proceeds from sale||offixed assets||||||5,328||
|Payments
to acquire|tangible fixed|||||~248||~2481||
|assets||||||||||
||||||||(807)|||
|Net cash from/(used)||in|investing||||||2,072|
|activities||||||||||
|Cash flows from financing||||activities||||||
|AiB loan drawdown||||||||6,000||
|Loan repayments||||||(800)||(6,352)||
|Net cash (used in)/from|||financing||||800||352|
|activities||||||||||
|Change
in cash and|cash|||equivalents|||(1,677)||689|
|in the year||||||||||
|Cash and cash equivalents||||at the|||~9354||8665|
|beginning
ofthe year||||||||||
|Cash and cash equivalents||||at the end|(ii)|||||
|ofthe year||||||||||
|(i)
Reconciliation|ofnet|||income to cash flow from||||||
|operating
activities|||||||2022||2021|
||||||||f'000||F'000|
|Net incoming
resources|||||||1,740||499|
|investment
income|||||||(26)||(24)|
|Financing costs|||||||601||790|
|Interest received|||||||(16)||(~)|
|Depreciation
oftangible||fixed assets|||||1,658||1,611|
|Decrease/(increase)|in|debtors|||||(957)||1,954|
|(Decrease)/increase|in|creditors|||||~3070||~5860|
|Net cash (oufflow)/inflow|||from operations|||||||
|(ii)
Analysis ofcash||and||cash equivalents|||2022||2021|
||||||||f'000||f.'000|
|Cash at bank||||||||||
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|3.|Charitable
activities —fees|Charitable
activities —fees|Charitable
activities —fees|receivable||||
|---|---|---|---|---|---|---|---|
|||||||Total|Total|
|||||||2022|2021|
|||||||R'000|2'000|
||School fees|||||||
||The school's fee income comprised:|||||||
||Gross fees|||||16,sra|15,833|
||Less: Total|bursaries,|grants and allowances|||1,609|1,642|
|||||||14,970|14,191|
||Add:|||||||
||Bursaries and scholarships|||paid for by Restricted|Funds|40|41|
||School fees|||||15,010|14,232|
||Bursaries and scholarships|||paid for by Restricted||||
||Fund:|||||||
||Governors'|bursaries|and scholarships|||40|41|
|||||||40|41|
##
|||2022|2021|
|---|---|---|---|
|||R'000|K'000|
|Dining|Hall|502|278|
|School|shop|||
|||502|278|
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##
||||Unrestl'lcted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|2022|2021|
||||E'000|K'000|R'000|8'000|
|Fundraising||events||25|25|5|
|Furlough|grants|||||121|
|Lettings|income||189||1ea|64|
||||189|25|214|190|
##
##
|||Staff||Other|Grant|Total|Total|
|---|---|---|---|---|---|---|---|
|||costs
f'000|Depreciation
f'000|costs
f'000|funding
f'000|2022
f'000|2021
f'000|
|Costs ofgenerating|funds|||||||
|Fundraising||||4||4|4|
|Ancillary trading costs||||763||763|502|
|Financing costs||||600||601|790|
|Total cost ofgenerating||||1,367|1|1,368|1,296|
|funds||||||||
|Charitable
expenditure||||||||
|Education and grant||||||||
|making||||||||
|Teaching||7,825|1,636|1,134|40|10,635|9,694|
|Welfare||53||'l99||252|211|
|Premises||606||1,238||1,844|2,237|
|Support costs (note a)||770|22|434||1226|1 110|
|Total charitable||9,254|1,658|3,005|40|13,957|13,252|
|expenditure||||||||
|Total expended||9254|1 658|4372|41|15325|14548|
##
||||2022|2021|
|---|---|---|---|---|
||||f'000|f'000|
|Accountancy|charges||22|25|
|Other governance||costs|40|35|
||||62|60|
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||||||
|---|---|---|---|---|
|The average|number ofemployees|during the year|Number|Number|
||||2022|2021|
|Teaching|||114|109|
|Welfare|||2|2|
|Premises|||32|39|
|Support|||100|88|
|||||238|
|The aggregate|payroll|costs for the year were as|follows:|2022
R'000|2021
f'000|
|---|---|---|---|---|---|
|Wages and salaries||||7,265|6,660|
|Social security|costs|||705|636|
|Other pension|costs|||1,264|1,179|
|Apprenticeship|Levy|||20|18|
|||||9,254|8,493|
|||||2022|2021|
|||||E'000|F'000|
|Aggregate
em|loyee|benefits ofkey management|personnel|965|870|
##
##
|Staffcosts (continued)||||
|---|---|---|---|
|||2022|2021|
|Number of higher paid employees|in bands of:|||
|860,001 to E70,000
f70,001 tof80,000||||
|f100,001 tof110,000||||
|f120,001 tof130,000||||
|f160,001 tof170,000||||
##
|Tangible Fixed Assets|||||||
|---|---|---|---|---|---|---|
||||Fixtures,||||
||||fittings,||||
||Land 8||plant 8||Motor||
||Buildings||equipinent|Computers|vehicles|Total|
||K'000||K'000|R'000|K'000|R'000|
|Cost (or deemed cost)|||||||
|At 1 August 2021|64,096||1,167|691|407|66,361|
|Additions||(80)|162|158|8|248|
|Disposals|||64|90|4|158|
|At 31 July 2022|64|016|1265|759|411|66
51|
|Depreciation|||||||
|At 1 August 2021|1,467||637|401|338|2,843|
|On disposals|||(64)|(90)|(4)|(158)|
|Charge for the year|1|283|162|191|22|1,658|
|At 31 July 2022|2|750|735|502|356|343|
|Net book value|||||||
|At 31 July 2022|61|66|530|257|55|62 108|
|At 31 July 2021|62|628|530|290|69|63517|
##
|ixed asset inves|ixed asset inves|tment||
|---|---|---|---|
|Cost or valuation:|||f'000|
|Market value at 1 August 2021
Disposals
Change
in value
in the year|||758
~12|
|Market value at||31July 2022|746|
|The investment|assets held at the end ofthe year are:||f'000|
|Income shares|in|COIF|513|
|Charifund
Units|||216|
|Fixed Interest Bonds|||16|
|Ground
Rents|||1|
||||746|
||||f'000|
|Historical cost:||||
|At 31 July 2022|||115|
|At 31 July 2021|||115|
##
##
||||2022|2021|
|---|---|---|---|---|
||||f'000|f'000|
||Fees||94|140|
||Other debtors||1,264|180|
||Prepayments|and accrued income|282|363|
||||1,640|683|
|All|debtors are due within one year.||||
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|Creditors: amounts|falling due within one year:|||
|---|---|---|---|
|||2022|2021|
|||R'000|6'000|
|Bank loan||800|800|
|Trade creditors||528|272|
|Taxes and social security costs||179|170|
|Other creditors||754|3,584|
|Accruals||809|1,724|
|Deferred income||4662|4,231|
|||7,732|10,781|
|Creditors: amounts|falling due after more than one year|||
|||2022|2021|
|||R'000|F'000|
|Bank loan||16,400|17,200|
|Other creditors||||
|Deferred income||76|96|
|||16,476|17,296|
##
##
||2022|2021|
|---|---|---|
||R'000|6000|
|Loan maturity
analysis|||
|Debt due in one year or less|800|800|
|In more than one year but not more than two years|800|800|
|In more than two years but not more than five years|2,400|2,400|
|In more than five years|13,200|14,000|
||17,200|18,000|
|included
in liabilities
falling due within one year|800|800|
||16,400|17,200|
##
##
|Fees rece|ived|in advance|||||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||f'000|f'000|
|Deferred|income is included
within:||||||
|Creditors|due|within one year|||4,662|4,231|
|Creditors|due|after more than|one year||76|96|
||||||4,738|4,327|
|Total deferred||lncorne at 1 August 2021|||4,327|3,573|
|Amounts|received
in year||||4,738|4,327|
|Amounts|credited to statement||offinancial|activities|4,327|3,573|
|Total deferred||income at 31|July 2022||4,738|4,327|
##
|notice.
A|ss|uming
pupils
wil|l|remain
in t|he school, advance fees will b|e applied as follows;||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||f'000|f'000|
|Within one||year||||4,662|4,231|
|Within one||to five years||||76|96|
|||||||4,738|4,327|
|Financial|instruments|||||||
|||||||2022|2021|
|||||||f'000|f'000|
|Financial|assets measured||at|amortised|cost (a)|9,034|9,673|
|Financial|assets measured||at|fair value|(b)|746|758|
|Financial|liabilities measured|||at arnortised cost (c)||1,281|3,856|
|Net financial||(liabilities)/assets||measured|at amortised cost|7,753|5,817|
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||||||Move|ment
in fund|s||
|---|---|---|---|---|---|---|---|---|
|||||Balance|||||
|||||at1||||Balance|
|||||August|Incoming|Resources|Investments|at 31 July|
|||||2021
R'000|resources
f'000|expended
K'000|gains/losses
R'000|2022
K'000|
|Permanent||endowments|||||||
|Horsfield|Bursary Fund|||405|||(5)|400|
|Brocklehurst||Scholarship|Fund|114||||113|
|||||519||||513|
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##
||||||||Movement|in funds|||
|---|---|---|---|---|---|---|---|---|---|---|
||||||Balance||||||
||||||at1|||||Balance|
||||||August|Incoming|Resources|Investments||at 31|
||||||2021|resources|expended|gains/losses|Transfers|July|
|||||||||||2022|
||||||f'000|f'000|f'000|f'000|f'000|f,'000|
|Horsfield||Bursary Fund|||1|12|(12)|||1|
|Brocklehurst|||Scholarship||51|3|(34)|||20|
|&Other||Prize|Funds||||||||
|Quincentenary|||Bursary||281|61|(22)|||326|
|Fund|||||||||||
|Bursary||&Scholarship|||205||(6)|(6)||202|
|Fund|||||||||||
|||||||85|||||
|9.|Unrestricted|||funds|||||||
||||||Balance||||||
||||||at1|||Gain on||Balance|
||||||August|Incoming|Resources|sale of|Transfers|at 31|
||||||2021|resources|expended|assets||July|
|||||||||||2022|
||||||f'000|f'000|f'000|f'000|f'000|f'000|
||Unrestricted||||45,112|16,980|(15,251)|||46,901|
||general||funds||||||||
||||||45112|16980|15251|||46901|
##
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|20.|Analysis ofnet assets between|Analysis ofnet assets between|Analysis ofnet assets between|funds||||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment||
|||||funds|funds|Funds|Total|
||||||||2022|
|||||R'000|K'000|R'000|R'000|
||Fund balances as at 31 July|||||||
||2022 are represented||by:|||||
||Tangible fixed assets|||62,108|||62,108|
||Investments|||2|231|513|746|
||Current assets|||8,999|318||9,317|
||Creditors: amounts|falling due||(7,732)|||(7,732)|
||within one year|||||||
||Creditors: amounts|falling due||(16,476)|||(16,476)|
||after one year|||||||
|||||46901|549|513|47963|
|||||Unrestricted|Restricted|Endowment||
|||||funds|funds|Funds|Total|
||||||||2021|
|||||R'000|R'000|K'000|f'000|
||Fund balances as at 31 July|||||||
||2021 are represented||by:|||||
||Tangible fixed assets|||63,517|||63,517|
||Investments||||239|519|758|
||Current assets|||9,732|305||10,037|
||Creditors; amounts|falling due||(10,781)|||(10,781)|
||within one year|||||||
||Creditors: amounts|falling due||(17,296)|||(17,296)|
||after more than one year|||||||
|||||45 172||519|46235|
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||||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|Funds|2021|
|||Notes|R'000|R'000|R'000|R'000|
|Income and endowments|||||||
|from:|||||||
|Donations
and legacies|||277|45||322|
|Investment
income||||24||25|
|Charitable
activities:|||||||
|School fees|||14,232|||14,232|
|Ancillary
trading|income||278|||278|
|Other incoming|resources||185|||190|
|Total incoming|resources||14973|74||15047|
|Expenditure
on:|||||||
|Raising funds|||||||
|Costs offundraising|||4|||4|
|Ancillary
trading|costs||502|||502|
|Financing costs|||790|||790|
||||1,296|||1,296|
|Charitable
activities|||||||
|Education
and grant making|||12658|594||13252|
|Total resources|expended||13954|594||14548|
|Net incoming resources|||1,019|(520)||499|
|from operations|before||||||
|transfers
and investment|||||||
|gains|||||||
|Gains/(Losses)|on investment||||74|116|
|assets|||||||
|Gain on disposal|of land and||2,275|||2,275|
|buildings|||||||
|Transfer between
funds|||||||
|Net movement|in funds||3,294|(478)|74|2,890|
|Fund balances at 1 August|||41,878|1,022|445|43,345|
|2020|||||||
|Fund balances|at 31July||45,172||519|46,235|
|2021|||||||