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|||||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|
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|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)|(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||||||||||||
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|Solicitors||Pickerings
Solicitors (Tamworth)|Pickerings
Solicitors (Tamworth)|Pickerings
Solicitors (Tamworth)|Limited|
|---|---|---|---|---|---|
|||Etchell House||||
|||Bonehill Road||||
|||Tamworth||||
|||Staffordshire||||
|||B783HQ||||
|Insurance|Brokers|Hettle Andrews|8 Associates|Ltd||
|||Eleven Brindley|Place|||
|||Birmingham||||
|||B12LP||||
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|Nursery|and Pre-Reception|full day|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|
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|||||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|
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||||||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|
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|||||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|
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|||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|
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|||||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||
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||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|
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|||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|
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|||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|
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|||||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|
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|||||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.|
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|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||
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|||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|
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|||||||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|
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||||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|
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|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|
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|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|
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||||||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|
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|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|
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