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||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|





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||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|



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|is expected that surpluses from operations over the coming<br>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)|





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||||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<br>Costs offundraising||4<br>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)<br>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)<br>Analysis ofcash and cash equivalents|||2023||2022|
||||£‘OOO||£000|
|Cash at bank|||8.478||7.677|





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|(iii)<br>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)|





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||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|





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||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|






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||||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|



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||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|





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||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|






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|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<br>— 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|





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|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|



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|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|





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||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|



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|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|





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|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<br>— 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|





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||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|





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||||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|



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|||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||||||||





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|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||





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|||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||||||