2020-08-31-accounts - Lichfield Cathedral School

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

				Page
Reference and administrative		details ofthe School, its Governors	and advisers	1-2
Governors' report				3-15
Independent auditor's	report	on the financial statements		16 —18
Statement offinancial	activities			19
Balance sheet				20
Statement ofcash flows				21
Notes to the financial	statements			22-41

Governors			Mrs CAbbott BA, Chair	Mrs CAbbott BA, Chair	ofthe Education	ofthe Education	Committee	Committee	Committee	(resigned 19December 2019)	(resigned 19December 2019)	(resigned 19December 2019)	(resigned 19December 2019)
			Ms N Dawes OBE, Interim Vice Chair of				Governors
			The Very Rev'd AJ Dorber BA MTh, Dean of					Lichfield Cathedral
			Mrs R Hadley-Leonard		(appointed	6 March 2020)
			The Rev'd Canon	P	S Hawkins	MA	(Oxon)		Bphil	CQSW	Bth	(resigned	19
			December 2019)
			Mr C Hopkins BA MBA		MBE, Chair	ofGovernors			(resigned 14July 2020)
			Mrs J Mason PGCE
			Mr R Oakley
			Mr C Rickart BA PGCE
			Mrs N Roy FCCA
			The Rev'd Canon A Stead MA
			Ms CSShaw BEd, Interim Chair ofGovernors					(appointed		8 November		2019)
Company	registered
number			07302696
Charity registered
number			1137481
Registered		office	The Palace
			The Close
			Lichfield
			Staffordshire
			WS137LH
Head			Mrs S E Hannam BA	MA PGCE
Bursar			Mr D W P Brown BA	ACMA CGMA		(resigned		31 December 2019)
			Mrs P A Sharratt FCCA		(appointed	3 February		2020)
Independent		auditor	Dains LLP
			15Colmore Row
			Birmingham
			B32BH
Bankers			Santander Corporate	Banking
			West Midlands Corporate Banking			Centre
			1 Comwall Street
			Birmingham
			B32DX
			National Westminster	Bank Plc
			47 Market Street
			Lichfield
			Staffordshire
			WS136LE

Solicitors		Pickerings Solicitors (Tamworth)	Pickerings Solicitors (Tamworth)	Pickerings Solicitors (Tamworth)
		Etchell House
		Bonehill Road
		Tamworth
		Staffordshire
		B783HQ
Insurance	Brokers	Hettle Andrews	8 Associates	Ltd
		Eleven Brindley	Place
		Birmingham
		B12LP

Nursery	and Pre-Reception	F9,090
Reception		F9,090
Years 1	and 2	F9,675
Years 3	and 4	F11,130
Years 5	and 6	F13,080
Years 7	to 9	F13,380
Years 10to 13		F14,250

				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
				2020	2020	2020	2019
			Note		F	F	F
Income from:
Charitable activities				5,460,793	23,502	5,484,295	5,068,640
Investments				3,562		3,562	3,543
Other income				321,822		321,822
Total income				5,786,177	23,502	5,809,679	5,072,183
Expenditure on:
Raising funds			7	178,076		178,076	63,717
Charitable activities			8	5,206,067	12,498	5,218,565	4,991,173
Total expenditure				5,384,143	12,498	5,396,641	5,054,890
Net movement	in funds			402,034	11,004	413,038	17,293
Reconciliation	offunds:
Total funds brought		forward		900,664	17,501	918,165	900,872
Net movement	in funds			402,034	11,004	413,038	17,293
Total funds carried		forward		1,302,698	28,505	1,331,203	918,165

					2020		2019
			Mote				F
Fixed assets
Intangible assets Tangible assets			12 13		2,551,437		2,611,337
					2,551,437		2,611,337
Current assets
Debtors			14	270,721		175,813
Cash at bank and	in hand			946,368		535,918
				1,217,089		711,731
Creditors: amounts year	falling	due within one	15	(2,437,323)		(1 414 903)
Met current liabilities					(1,220,234)		(703,172)
Total assets less	current	lliabillities			'i,331,203		1,908,165
Creditors: amounts than one year	falling	due after more	16				(990,000)
Totall net assets					1,331,203		918,165
Charity funds Restricted funds			17		28,505		17,501
Unrestricted funds			17		1,302,698		900,664
Totallfunds					1,331,203		918,165

				Note	2020f	2019
Cash flows from operating	activities
Net cash used in operating	activities			20	552,874	169,926
Cash flows from investing	activities
Investment income					3,562	3,543
Proceeds from the sale oftangible fixed		assets				(6,560)
Purchase oftangible fixed assets					(74,533)
Net cash used in investing	activities				(70,971)	(3,017)
Cash flows from financing	activities
Repayments of borrowing					(53,750)	(107,500)
Bank and loan interest paid					(17,703)	(48,911)
Net cash used in financing	activities				(71,453)	(156,411)
Change in cash and cash	equivalents	in	the year		410,450	10,498
Cash and cash equivalents	at the beginning		ofthe year		535,918	525,420
Cash and cash equivalents	at the end	of	the year	21	946,368	535,918

		Unrestricted	Restricted	Total
		funds	funds	funds
		2020	2020	2020
		F	F	E
Fees	receivable	6,333,094		6,333,094
Less:	Remissions	(1,149,917)		(1,149,917)
Music	Lessons	159,546		159,546
Other	income	118,070	23,502	141,572
Total	2020	5,460,793	23,502	5,484,295
			Unrestricted	Total
			funds	funds
			2019	2019
			F	F
Fees	receivable		5,495,711	5,495,711
Less:	Remissions		(745,084)	(745,084)
Music	Lessons		173,821	173,821
Other	income		144,192	144,192
Total	2019		5,068,640	5,068,640

				Unrestricted	Total
				funds	funds
				2020	2020
Bank interest				3,562	3,562
				Unrestricted	Total
				funds	funds
				2019f	2019
Bank interest				3,543	3,543
Other incoming		resources
			Unrestricted	Total	Total
			funds	funds	funds
			2020	2020f	2019 E
Coronavirus	Job	Retention Scheme income	321,822	321,822

	Unrestricted	Total
	funds	funds
	2020	2020
	f.	F
Bank charges	1,725	1,725
Bank and loan interest	45,703	45,703
Bad debts	130,648	130,648
	178,076	178,076
	Unrestricted	Total
	funds	funds
	2019f	2019f
Bank charges	1,730	1,730
Bank and loan interest	48,911	48,911
Bad debts	13,076	13,076
	63,717	63,717

		Unrestricted	Restricted	Total
		funds	funds	funds
		2020 E	2020f	2020
Teaching costs		3,260,818		3,260,818
Welfare		480,773		480,773
Premises		605,642		605,642
Support costs ofschooling		762,708	12,498	775,206
Governance	costs	96,126		96,126
		5,206,067	12,498	5,218,565

		Unrestricted	Restricted	Total
		funds	funds	funds
		2019	2019	2019
		E	E	F
Teaching costs		3,127,619		3,127,619
Welfare		553,539		553,539
Premises		540,891		540,891
Support costs ofschooling		741,213	5,833	747,046
Governance	costs	22,078		22,078
		4,985,340	5,833	4,991,173

					Total
		Staff costs	Depreciation	Other costs	funds
		2020 f	2020 E	2020	2020
Teaching costs		2,977,879	1,970	280,969	3,260,818
Welfare		176,554		304,219	480,773
Premises		115,088	64,752	425,802	605,642
Support costs ofschooling		529,730	56,209	189,267	775,206
Governance	costs			96,126	96,126
		3,799,251	122,931	1,296,383	5,218,565

					Total
		Staff costs	Depreciation	Other costs	funds
		2019	2019	2019	2019
Teaching costs		2,794,742	3,614	329,263	3,127,619
Welfare		171,807		381,732	553,539
Premises		108,482	65,148	367,261	540,891
Support costs ofschooling		492,211	59,652	195,183	747,046
Governance	costs			22,078	22,078
		3,567,242	128,414	1,295,517	4,991,173

				2020	2019
				E	E
Fees payable	to the School's auditor		for the audit ofthe School's annual
accounts				4,250	4,100
Fees payable	to the School's auditor		in respect of:
All non-audit	services not included	above		1,300	1,250

				2020	2019
				F	E
Wages and	salaries			3,023,777	2,965,195
Social security costs				273,617	261,667
Contribution	to defined	contribution	pension schemes	501,857	340,380
				3,799,251	3,567,242

	2020	2019
	No.	No.
Head and teachers	84	84
Welfare and maintenance	17	17
Bursary and administration	29	28
	130	129

2020	2019
No.	No.

Intangible assets
	Goodwillf
Cost
At 1 September 2019	25,000
At 31August 2020	25,000
Amortisation
At 1 September 2019	25,000
At 31 August 2020	25,000
Net book value
At 31 August 2020
At 31 August 2019

		Freehold	Long-term	Short-term
		land and	leasehold	leasehold	Motor	Fixtures
		buildings	property	property	vehicles	and fittings	Total
		E	E		E	E	E
Cost or valuation
At 1 September 2019		1,510,269	1,431,001	139,894	31,928	1,043,761	4,156,853
Additions		493	6,972			67,068	74,533
Disposals		(2,178)	(3,200)		(13,859)	(51,092)	(70,329)
At 31 August	2020	1,508,584	1,434,773	139,894	18,069	1,059,737	4,161,057
Depreciation
At 1 September 2019		209,579	413,377	77,033	25,818	819,709	1,545,516
Charge for the year		25,120	28,705	10,927	1,970	56,209	122,931
On disposals		(358)	(340)	-	(13,859)	(44,270)	(58,827)
At 31 August	2020	234,341	441,742	87,960	13,929	831,648	1,609,620
Net book value
At 31 August	2020	1,274,243	993,031	51,934	4,140	228,089	2,551,437
At 31 August	2019	1,300,690	1,017,624	62,861	6,110	224,052	2,611,337
Debtors
						2020f	2019 F
Due within one year
Fees						55,060	69,514
Other debtors						10,039	1,231
Prepayments	and accrued	income				205,622	105,068
						270,721	175,813

						2020	2019
							E
Bank loan						1,043,750	107,500
Trade creditors						189,194	285,870
Pupil deposits						166,927	165,125
Other taxation	and		social security			64,795	66,301
Other creditors						170,677	174,856
Accruals and deferred				income		801,980	615,251
						2,437,323	1,414,903
						2020	2019
							E
Deferred income at			1 September		2019	550,260	539,725
Resources deferred			during the year			558,442	550,260
Amounts released		from previous			periods	(550,260)	(539,725)
						558,442	550,260

			2020	2019
				E
Bank loan				990,000
Included	within the above are amounts	falling due as follows:
			2020	2019
				P
Between	one and two years
Bank loan				990,000

Statement offunds - current year
	Balance at 1			Balance at
	September			31August
	2019	Income	Expenditure	2020
	E		E
Unrestricted funds
General Funds	900,664	5,786,177	(5,384,143)	1,302,698
Restricted funds
MUGA Project	17,501		(5,833)	11,668
Arts Council funding		7,000	(4,170)	2,830
Tim Henman funding		8,502		8,502
Friends of LCS		8,000	(2,495)	5,505
	17,501	23,502	(12,498)	28,505
Total offunds	918,165	5,809,679	(5,396,641)	1,331,203
Statement offunds - prior year
	Balance at
				Balance at
	September			31 August
	2018	Income	Expenditure	2019
	F
Unrestricted funds
General Funds	877,538	5,072,183	(5,049,057)	900,664
Restricted funds
MUGA Project	23,334		(5,833)	17,501
Total offunds	900,872	5,072,183	(5,054,890)	918,165

Summary	offunds - current year
		Balance at 1			Balance at
		September			31August
		2019	Income	Expenditure	2020
		F	E	F	F
General funds		900,664	5,786,177	(5,384,143)	1,302,698
Restricted	funds	17,501	23,502	(12,498)	28,505
		918,165	5,809,679	(5,396,641)	1,331,203
Summary	offunds - prior year
		Balance at
		1			Balance at
		September			31 August
		2018	Income	Expenditure	2019
		E
General funds		877,538	5,072,183	(5,049,057)	900,664
Restricted	funds	23,334		(5,833)	17,501
		900,872	5,072,183	(5,054,890)	918,165

					Unrestricted	Restricted	Total
					funds	funds	funds
					2020	2020	2020
					E		E
Tangible	fixed assets				2,539,769	11,668	2,551,437
Current	assets				1,200,252	16,837	1,217,089
Creditors	due within	one year			(2,437,323)		(2,437,323)
Total					1,302,698	28,505	1,331,203
Analysis	of net assets between		funds -	prior period
					Unrestricted	Restricted	Total
					funds	funds	funds
					2019	2019	2019
					F		E
Tangible	fixed assets				2,593,836	17,501	2,611,337
Current assets					711,731		711,731
Creditors	due within	one year			(1,414,903)		(1,414,903)
Creditors	due in more than one year				(990,000)		(990,000)
Total					900,664	17,501	918,165
Reconciliation ofnet movement			in funds	to net cash	flow from operating	activities
						2020	2019
Net income for the period (as per			Statement	of Financial	Activities)	413,038	17,293
Adjustments for:
Depreciation charges						122,931	128,083
Amortisation charges							344
Bank interest received						(3,562)	(3,543)
Bank and	loan interest paid					17,703	48,911
Loss on the sale offixed assets						11,502	2,007
Increase	in debtors					(94,908)	(17,830)
Increase/(decrease)		in creditors				86,170	(5,339)
Net cash	provided by operating		activities			552,874	169,926

cancellable	operating leases as follows:
		2020f	2019f
Not later than 1 year		162,760	150,298
Later than	1 year and not later than 5years	543,575	427,935
Later than	5 years	2,775,490	2,867,286
		3481 825	3445 519