2023-07-31-accounts

	Page	Page
Governors! officers and organisation	1
Governors report	2— 10
Statement of Governors’ responsibilities	11
Independentauditors’ report	12—14
Statement offinancial activitiea	15
Balance sheet	16
Cash flow statement	17	- 18
Notes to the accounts	19	- 34

	2020-2021	2021-2022	2022-2023
Infants & Junior Division	355	380	398
Senior Division	666	670	677
Sixth Form division	207	222	220
	1,228	1,272	1,295

is expected that surpluses from operations over the coming eet the medium-term objective above.	years will see the f	ree reserves
	£000	£000
Unrestricted funds at year end		47,320
Less fixed assets per accounts	(60,773)
Add back
Long term Bank borrowings to fund the new campus	11,400
		(49,373)
Free reserves at year end		(2,053)

			Unrestricted	Restricted	Endowment	Total	Total
			Funds	Funds	Funds	2023	2022
		Notes	£‘OOO	£‘OOO	£‘OOO	£‘OOO	£000
Income and endowments
from:
Donations and legacies		2	81	39	-	120	1,297
Investment income		2	205	31	-	236	42
Activities for generating funds	-	4	241	-	-	241
Kings’s School Macclestield
Charitable activities:
School fees		3	16,083	-	-	16,083	15,010
Ancillary trading income		5	530	-	-	530	502
Other incoming resources		6	1	14		15	214
Total incoming resources			17,141	84	-	17,225	17,065
Expenditure on:
Raising funds
King’s School Macclesfield Costs offundraising		4 7			:
Ancillary trading costs		7	779	-	-	779	763
Financing costs		7	1,258	-	-	1,258	601
			2,043	-	-	2,043	1,368
Charitable activities
Education and grant making			14,692	56	-	14,748	13,957
Total resources expended			16,735	56	-	16,791	15,325
Net incoming resources			406	28	-	434	1,740
from operations before
transfers and investment
gains
Gains/(Loss) on investment			-	(11)	(10)	(21)	(12)
assets
Gain on disposal of land and
buildings
Transfer between funds			14	(14)	-	-	-
Net movement in funds			420	3	(10)	413	1,726
Fund balances at 1 August			46,901	549	513	47,963	46,235
2022
Fund balances at 31 July			47,321	552	503	48,376	47,963
2023

			Consolidated	Consolidated			School	School
		2023		2022		2023		2022
	Notes	£‘OOO	£‘OOO	£000	£000	£‘OOO	£‘OOO	£000	£000
Fixed assets
Tangible assets	11		60,773		62,108		60,773		62108
Investments	12		710		746		720		746
			61,483		62854		61,493		62854
Current assets
Assets held for		786		-		786		-
resale
Debtors	13	180		1,640		169		1,640
Cash at bank and		6.503		7,677		6,478		7,677
in hand
		7,469		9,317		7,433		9,317
Creditors:
amounts falling	14	(8,637)		(7,732)		(8.647)		(7,732)
due within one
year:
Net current			(1,168)		1,585		(1,214)		1.585
(liabilities)Iasset
5
Total assets less			60,315		64,439		60,279		64,439
current liabilities
Creditors:	15		(11.940)		(16,476		(11,940)		(16,476)
amounts falling
due after more
than one year
Net assets					47 963		48.339		47.963
Endowment	19		503		513		503		513
funds
Restricted funds	20		552		549		552		549
Unrestricted	21		47,320		46,901		47.284		46,901
funds
			48.375		47.963				47.963

		2023		2022
	Notes	£‘OOO	£‘OOO	£000	£000
Net cash (outflow)/inflow from	(i)		5,929		(70)
operating activities
Cash flows from investing activities
Financing costs		(1,258)		(601)
Investment income		31		26
Interest received		205		16
Net proceeds from sale of fixed assets		-		-
Net proceeds from sale of investment		15
Payments to acquire tangible fixed		jg
assets
Net cash from!(used) in investing			(1,328)		(807)
activities
Cash flows from financing activities
Loan repayments		(5,800)		(800)
Net cash (used in)Ifrom financing			(5,800)		(800)
activities
Change in cash and cash equivalents			(1,199)		(1,677)
in the year
Cash and cash equivalents at the			7,677		9,354
beginning ofthe year
Cash and cash equivalents at the end	(ii)		8.478		7.677
oftheyear
(I) Reconciliation of net income to cash flow from
operating activities			2023		2022
			£‘OOO		£000
Net incoming resources			398		1,740
Investment income			(31)		(26)
Financing costs			1,258		601
Interest received			(206)		(16)
Depreciation oftangible fixed assets			1,656		1:658
Decrease/(increase) in debtors			684		(957)
(Decrease)/increase in creditors			2,170		(3,070)
Net cash (outflow)/inflow from operations			5.929
(ii) Analysis ofcash and cash equivalents			2023		2022
			£‘OOO		£000
Cash at bank			8.478		7.677

(iii) Reconciliation of net debt
	1 August
	2022	Cashflow	31 July 2023
	£000	£000	£‘OOO
Cash in hand and at bank	7677	(1.199)	6,478
Bank loan due in less than one year	(800)	-	(800)
Bank loan due in greater than one year	(16400)	5.800	(10.600)
	(9.523)	4 601	(4.922)

	Unrestricted	Restricted	Total	Total
	funds	funds	2023	2022
	£‘OOO	£‘OOO	£‘OOO	£000
Donations and legacies	81	39	120	1,297
Income shares in COIF	-	27	27	26
Interest receivable	205	4	209	16
	286	70	356	1,339

	Total	Total
	2023	2022
	£‘OOO	£000
School fees
The school’s fee income comprised:
Gross fees	17,775	16,579
Less: Total bursaries, grants and allowances	(1,742)	(1,609)
	16,033	14,970
Add:
Bursaries and scholarships paid for by Restricted Funds	50	40
School fees	16,083	15,010
Sursaries and scholarships paid for by Restricted
Fund:
Governors’ bursaries and scholarships	50	40
	50	40

			2023	2022
			£‘OOO	£000
	Turnover		241
	Costof sales		(120)
	Gross profitl(loss)		121
	Administration expenses		(85)
	Operating profitIoss		36
	Interest receivable
	Profit/(loss) forthe year		36	-
	Gift aid payment to The King’s School Macclesfield
	Shareholders’ Funds		46	10
5.	Ancillary trading income
		2023		2022
		£‘OOO		£000
	Dining Hall	530		502
		530		502

	Unrestricted	Restricted	Total	Total
	funds	funds	2023	2022
	£‘OOO	£‘OOO	£‘OOO	£000
Fundraising events		14	14	25
Lettings income	1	-	1	189
	1	14	15	214

	Staff		Other	Grant	Total	Total
	costs	Depreciation	costs	funding	2023	2022
	£‘OOO	£‘OOO	£‘OOO	£‘OOO	£‘OOO	£000
Costs of generating funds
Fundraising	-	-	S	-	6	4
Ancillary trading costs	-	-	779	-	779	763
Financing costs	-	-	1258	-	1258	601
Total cost of generating	-	-	2,043	-	2,043	1,368
funds
Charitable expenditure
Education and grant
making
Teaching	8,144	1,633	1,137	51	10,965	10,635
Welfare	47	-	202	-	249	252
Premises	713	-	1,396	-	2,109	1,844
Support costs (note a)	1,043	23	359	-	1,425	1,226
Total charitable	9,947	1,656	3,094	51	14,748	13,957
expenditure
Total expended	9,947	1,656	5,137	51	16,791	15,325

	2023	2022
	£‘OOO	£000
Accountancy charges	31	22
Other governance costs	77	40
	108	62

taffcosts
The average number ofemployees during the year	Number	Number
	2023	2022
Teaching	112	114
Welfare	2	2
Premises	34	32
Support	104	100
	252	248

The aggregate payroll costs for the year were as follows:	2023	2022
	£‘OOO	£000
Wages and salaries	8,137	7,265
Social security costs	708	705
Other pension costs	1,346	1,264
Apprenticeship Levy	23	20
	10,214	9,254

							2023	2022
							£‘OOO	£000
Aggregate	employee	benefits	of	key	management	personnel	1,015	965

10.	Staff costs (continued)
		2023	2022
	Number of higher paid employees in bands of:
	£60,001 to £70,000	2	3
	£70,001 to80,000	2	2
	£80,001 to £90,000	I	—
	£90,001 to £100,000	I
	£100,001 to £110,000	—	1
	£160.001 to £170,000		1
	£170,001 to £180,000	1.

Tangible Fixed Assets — C	onsolidated an	d School
		Fixtures,
		fittings,
	Land &	plant &		Motor
	Buildings	equipment	Computers	vehicles	Total
	£‘OOO	£‘OOO	£‘OOO	£‘OOO	£‘OOO
Cost (or deemed cost)
At 1 August 2022	64,016	1,265	759	411	66,451
Additions	197	58	31	35	321
Disposals	-	(77)	(74)	(7)	(157)
At31 July2023	64,213	1,247	716	439	66,615
Depreciation
At 1 August 2022	2,750	735	502	356	4,343
On disposals	-	(77)	(74)	(7)	(157)
Charge for the year	1,296	179	159	23	1,656
At 31 July 2023	4,046	837	587	373	5,843
Net book value
At 31 July 2023	60,167	410	130	66	60,773
At 31 July 2022	61,266	530	257	55	62,108

Fixed asset investment
	Consolidated	School
Cost or valuation:	£‘OOO	£‘OOO
Market value at 1 August2022	746	746
Additions		10
Disposals	(15)	(16)
Change in value in the year	(21)	(21)
Marketvalue at 31 July 2023	710	720
The investment assets held at the end of the year are:	£‘OOO	£‘OOO
Income shares in COIF	504	504
Charifund Units	205	205
Trading subsidiary	-	10
Ground Rents	I	I
	710	720
	£‘OOO	£‘OOO
Historical cost:
At 31 July 2023	100	110
At31 July2022	115	115

ebtors
	Consolidated			School
	2023	2022	2023		2022
	£‘OOO	£000	£‘OOO		£000
Fees	68	94	68		94
Otherdebtors	102	1264	91		1,264
Prepayments and accrued income	10	282	10		282
	180	1,640	169		1,640

	2023	2022	2023	2022
	£‘OOO	£000	£‘OOO	£000
Bank loan	800	800	800	800
Trade creditors	299	528	299	528
Intercompany creditors	-	-	10	-
Taxes and social security costs	196	179	196	179
Other creditors	895	754	895	754
Accruals	862	809	862	809
Deferred income	5,585	4,662	5,585	4,662
	8,637	7,732	8,647	7,732

Creditors: amounts falling due a	fter more than one year	fter more than one year
	Consolidated			School
	2023	2022	2023	2022
	£‘OOO	£000	£‘OOO	£000
Bank loan	10,600	16,400	10,600	16,400
Other creditors
Deferred income	1,340	76	1,340	76
	11,940	16,476	11,940	16,476

remaining on the RCF at the end of 5 years will be added to the T	erm Facility.
	2023	2022
	£‘OOO	£000
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	9,800	15,600
In more than five years
	11,400	17,200
Included in liabilities falling due within one year	(800)	(800)
	10,600	16,400

Fees received in advance - School
	2023	2022
	£‘OOO	£000
Deferred income is included within:
Creditors due within one year	5,585	4,662
Creditors due after more than one year	1.340	76
	6,925	4,738
Total deferred income at 1 August 2022	4,738	4,327
Amounts received in year	6,925	4,738
Amounts credited to statement offinancial activities	(4,738)	(4,327)
Total deferred income at 31 July 2023	6,925	4,738

		2023	2022
		£‘OOO	£000
	Within one year	5,585	4,662
	Within one to five years	1,340	76
		6,925	4,738
17.	Financial instruments — Consolidated
		2023	2022
		£‘OOO	£000
	Financial assets measured at amortised cost (a)	6,662	9034
	Financial assets measured at fair value (b)	720	746
	Financial liabilities measured at amortised cost (c)	1,194	1,281
	Net financial (liabilities)/assets measured at amortised cost	5,468	7,753

	Balance
	at 1				Balance
	August	Incoming	Resources	Investments	at 31 July
	2022	resources	expended	gains/losses	2023
	£000	£‘OOD	£‘OOO	£‘OOO	£‘OOO
Permanentendowments
Horsfield Bursary Fund	400	-	-	(8)	392
Brocklehurst Scholarship Fund	113	-	-	(2)	111
	513	-	-	(10)	503

			Moveme	nt in funds
	Balance
	at I					Balance
	August	Incoming	Resources	Investments		at 31
	2022	resources	expended	gainsllosses	Transfers	July
						2023
	£‘OOO	£‘OOO	£‘OOO	£‘OOO	£‘OOO	£‘OOO
Horsfield Bursary Fund	I	11	(11)		(1)
Brocklehurst Scholarship	20	5	(3)			22
& Other Prize Funds
Quincentenary Bursary	326	58	(28)	(1)	(13)	342
Fund
Bursary & Scholarship	202	10	(14)	(10)		188
Fund
	549	84	(56)	(11)	(14)	552

		Balance
		at I			Gain on		Balance
		August	Incoming	Resources	sale of	Transfers	at 31
		2022	resources	expended	assets		July
							2023
		£‘OOO	£‘OOO	£‘OOO	£‘OOO	£‘OOO	£‘OOO
Unrestricted funds	—	46,901	16,900	(16,531)		14	47,284
school
Unrestricted funds	—		241	(205)			36
trading company
Consolidated		46,901	17,141	(16,736)	-	14	47,320
unrestricted funds

22.	Analysis of net assets between	funds	- Consolidated
		Unrestricted		Restricted	Endowment
			funds	funds	Funds	Total
						2023
			£‘OOO	£‘OOD	£‘OOO	£‘OOD
	Fund balances as at 31 July
	2023 are represented by:
	Tangible fixed assets		60,773			60,773
	Investments		1	205	504	710
	Current assets		7,123	347		7,470
	Creditors: amounts falling due		(9,901)			(9,901)
	within one year
	Creditors: amounts falhng due		(10,676)			(10,676)
	afterone year
			47,320	552	504	48,375
		Unrestricted		Restricted	Endowment
			funds	funds	Funds	Total
						2022
			£‘OOO	£‘OOO	£‘OOO	£‘OOO
	Fund balances as at 31 July
	2022 are represented by:
	Tangible fixed assets		62,108	-	-	62,108
	Investments		2	231	513	746
	Currentassets		8999	318	-	9,317
	Creditors: amounts falling due		(7,732)	-	-	(7,732)
	within one year
	Creditors: amounts falling due		(16,476)	-	-	(16,476)
	after more than one year
			46,901	549	513	47,963

he School had operating lease commitments at the y	ear end
Operating leases which expire:	2023	2022
	£‘OOO	£000
Within one year	8
Within two to five years	32
More than flve years	4
	44

		Unrestricted	Restricted	Endowment	Total
		Funds	Funds	Funds	2022
	Notes	£‘OOO	£‘OOO	£‘OOO	£‘OOO
Income and endowments
from:
Donations and legacies		1,263	34		1,297
Investment income	2	16	26		42
Charitable activities:
School fees	3	15,010			15,010
Ancillary trading income	5	502	-		502
Other incoming resources	6	189	25		214
Total incoming resources		16,980	85	-	17,065
Expenditure on:	7
Raising funds
Costs offundraising		4	-	-	4
Ancillary trading costs		763	-	-	763
Financing costs		600	1	-	601
		1,367	1	-	1,368
Charitable activities
Education and grant making		13,884	73	-	13,957
Total resources expended		15,251	74	-	15,325
Net incoming resources		1,729	11	-	1,740
from operations before
transfers and investment
gains
Gains/(Losses) on investment		—	(6)	(6)	(12)
assets
Gain on disposal ofland and
buildings
Transfer between funds
Net movement in funds		1,729	5	(6)	1,728
Fund balances at 1 August		45,172	544	519	46235
2021
Fund balances at 31 July		46,901	549	513	47,963
2022