| Page | ||||
|---|---|---|---|---|
| Reference and administrative | details ofthe School, its Governors | and advisers | 1-2 | |
| Governors' report |
3-14 | |||
| Independent auditors' |
report | on the financial statements | 15-17 | |
| Statement offinancial | activities | 18 | ||
| Balance sheet | 19 | |||
| Statement ofcash flows | 20 | |||
| Notes to the financial | statements | 21-36 |
| REFERENCE AND | REFERENCE AND | REFERENCE AND | ADMINISTRATIVE DETAILS OF THE SCHOOL, ITS GOVERNORS AND ADVISERS |
ADMINISTRATIVE DETAILS OF THE SCHOOL, ITS GOVERNORS AND ADVISERS |
ADMINISTRATIVE DETAILS OF THE SCHOOL, ITS GOVERNORS AND ADVISERS |
ADMINISTRATIVE DETAILS OF THE SCHOOL, ITS GOVERNORS AND ADVISERS |
ADMINISTRATIVE DETAILS OF THE SCHOOL, ITS GOVERNORS AND ADVISERS |
ADMINISTRATIVE DETAILS OF THE SCHOOL, ITS GOVERNORS AND ADVISERS |
ADMINISTRATIVE DETAILS OF THE SCHOOL, ITS GOVERNORS AND ADVISERS |
|---|---|---|---|---|---|---|---|---|---|
| FOR THE YEAR | ENDED 31AUGUST 2022 | ||||||||
| Governors | Ms N Dawes OBE, Chair | ||||||||
| The Very Rev'd A | Dorber BA MTh FRSA | ||||||||
| Mrs R Hadley-Leonard | (resigned | 10 March | 2022) | ||||||
| Mrs J Mason ABSM | PGCE | ||||||||
| Mr R Oakley | |||||||||
| Mr C Rickart BA PGCE | |||||||||
| Mrs N Roy FCCA | |||||||||
| The Rev'd Canon | A | Stead MA | |||||||
| Ms C SShaw BEd | |||||||||
| Mr E Lunt BA MA | AKC | PGCE NPQH ARSM | |||||||
| The Rev'd Canon | Dr G | Platten | (appointed | 7 September 2021) | |||||
| Mr J Nevilie (appointed | 4 April | 2022) | |||||||
| Mr J Morris (appointed | 10January 2023) | ||||||||
| Company | registered | ||||||||
| number | 07302696 | ||||||||
| Charity registered | |||||||||
| number | 1137461 | ||||||||
| Registered | office | The Palace | |||||||
| The Close | |||||||||
| Lichfield | |||||||||
| Staffordshire | |||||||||
| WS13 7HL | |||||||||
| Bursar | Mrs P A Sharratt FCCA |
||||||||
| Head | Mrs S E Hannam | BA MA PGCE | |||||||
| Independent | auditors | Bates Weston Audit | Ltd | ||||||
| Statutory Auditors |
|||||||||
| Chartered Accountants |
|||||||||
| The Mills | |||||||||
| Canal Street | |||||||||
| Derby | |||||||||
| DE1 2RJ | |||||||||
| Bankers | Santander Corporate |
Banking | |||||||
| 1 Cornwall Street |
|||||||||
| Birmingham | |||||||||
| B32DX | |||||||||
| National Westminster |
Bank Pic | ||||||||
| 47 Market Street | |||||||||
| Lichfield | |||||||||
| Staffordshire | |||||||||
| WS136LE |
| Restricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| Note | 2022 6 |
2022 f |
2022 | 2021 5 |
||
| Income from: | ||||||
| Donations and legacies |
2 | 85,100 | 85,100 | 60,245 | ||
| Charitable activities |
3 | 40,467 | 8,205,836 | 6,246,303 | 5,680, 134 | |
| Investments | 4,810 | 4,810 | 813 | |||
| Total income | 125,567 | 6,210,646 | 6,336,213 | 5,741,192 | ||
| Expenditure on: |
||||||
| Charitable activities |
4 | 55,813 | 5,970,971 | 6,026,784 | 5,424,190 | |
| Total expenditure | 55,813 | 5,970,971 | 6,026,784 | 5,424,190 | ||
| Net movement in funds |
69,754 | 239,875 | 309,429 | 317,002 | ||
| Reconciliation offunds: |
||||||
| Total funds brought | forward | 28,402 | 1,619,803 | 1,648,205 | 1,331,203 | |
| Net movement in funds |
69,754 | 239,675 | 309,429 | 317,002 | ||
| Total funds carried forward | 98,156 | 1,859,478 | 1,957,634 | 1,648,205 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | E | |||||
| Fixed assets | ||||||
| Tangible assets | 2,345,224 | 2,441,039 | ||||
| 2,345,224 | 2,441,039 | |||||
| Current assets | ||||||
| Debtors | 10 | 1,847,681 | 1,526,941 | |||
| Cash at bank and | in hand | 2,170,349 | 1,561,704 | |||
| 4,018,030 | 3,088,645 | |||||
| Creditors; amounts | falling due within one | |||||
| year | 11 | (3,312,796) | (2,676,346) | |||
| Net current assets | 705,234 | 410,297 | ||||
| Total assets less | current liabilities | 3,050,458 | 2,851,336 | |||
| Creditors: amounts | falling due after more | |||||
| than one year | 12 | (1,092,824) | (1,203,131) | |||
| Total net assets | 1,957,634 | 1,648,205 | ||||
| Charity funds | ||||||
| Restricted funds | 13 | 98,156 | 28,402 | |||
| Unrestricted funds |
13 | 1,859,478 | 1,619,603 | |||
| Total funds | 1,957,634 | 1,648,205 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| F | |||||||
| Cash flows from operating | activities | ||||||
| Net cash used in operating |
activities | 727,765 | 429,808 | ||||
| Cash flows from investing | activities | ||||||
| Proceeds from the safe of tangible fixed |
assets | 4,175 | |||||
| Purchase oftangible fixed assets |
(21,690) | (21,832) | |||||
| Investment income |
4,810 | 813 | |||||
| Net cash used In investing |
activities | (16,880) | (16,844) | ||||
| Cash flows from financing | activities | ||||||
| Cash inflows from new borrowing | 250,000 | ||||||
| Repayments of borrowing |
(71,357) | (19,189) | |||||
| Bank and loan interest paid |
(30,883) | (28,439) | |||||
| Net cash (used In)/provided | by financing | activities | (102,240) | 202,372 | |||
| Change In cash and cash |
equivalents | in | the year | 608,645 | 615,336 | ||
| Cash and cash equivalents | at the beginning | ofthe year | 1,561,704 | 946,368 | |||
| Cash and cash equivalents | at the end of | the year | 2,170,349 | 1,561,704 | |||
| The notes on pages 21 to 36 form part ofthese financial | statements |
| Restricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2022 | 2022 | 2022 | 2021 | |||
| F | 6 | 6 | ||||
| Government | grants | |||||
| Coronavirus | Job Retention | Scheme grant | 60,245 | |||
| Donations | 85,100 | 85,100 | ||||
| 85,100 | 85,100 | 60,245 | ||||
| Total 2021 | 60,245 | 60,245 |
| Restricted | Unrestricted | Total | Tora/ | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2022 | 2022 | 2022 | 2021 | ||
| 6 | 6 | 6 | 6 | ||
| Fees receivable | 5,812,149 | 5,812,149 | 5,355,168 | ||
| Other educational | income | 40,467 | 393,687 | 434,154 | 324,966 |
| 40,467 | 6,205,836 | 6,246,303 | 5,680,134 | ||
| Total 2021 | 55,409 | 5,624,725 | 5,680,134 | ||
| 2022 | 2021 | ||||
| 6 | |||||
| School Fees Receivable | |||||
| Fees receivable | 6,751,163 | 6,297,679 | |||
| Less: Remissions | (939,014) | (942,511) | |||
| 5,812,149 | 5,355,168 |
| Restricted | Unrestricted | ||||
|---|---|---|---|---|---|
| funds | funds | Total | Total | ||
| 2022 | 2022 | 2022 | 2021 | ||
| 6 | 6 | 6 | 5 | ||
| Teaching costs | 5,939 | 3,604,599 | 3,610,538 | 3,269,705 | |
| Welfare | 558,440 | 558,440 | 521,410 | ||
| Premises | 906,425 | 908,425 | 649,586 | ||
| Support costs of schooling | 49,874 | 856,051 | 905,925 | 902,192 | |
| Governance | costs | 45,456 | 45,458 | 81,297 | |
| 55,813 | 5,970,971 | 6,026,784 | 5,424,190 | ||
| Total 2021 | 55,512 | 5,368,678 | 5,424,190 |
| Depreclatio | Total | Total | ||||
|---|---|---|---|---|---|---|
| Staff costs | n | Other costs | funds | funds | ||
| 2022 | 2022 | 2022 | 2022 | 2021 | ||
| 6 | 8 | E | 8 | E | ||
| Teaching costs | 3,198,099 | 412,439 | 3,610,538 | 3,269,705 | ||
| Welfare | 78,184 | 480,256 | 558,440 | 521,410 | ||
| Premises | 195,191 | 64,789 | 646,445 | 906,425 | 649,586 | |
| Support costs of schooling | 580,296 | 50,644 | 274,985 | 905,925 | 902,192 | |
| Governance | costs | 45,456 | 45,456 | 81,297 | ||
| 4,051,770 | 115,433 | 1,859,581 | 6,026,784 | 5,424,190 | ||
| Total 2021 | 3,781,991 | 127,974 | 1,514,225 | 5,424,190 |
| 2022f | 2021 | |||
|---|---|---|---|---|
| Fees payable | to the School's auditor | for the audit ofthe School's annual | ||
| accounts | 4,500 | 4,250 | ||
| Fees payable | to the School's auditor | in respect of: | ||
| All non-audit | services not included above |
1,075 | 1,000 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Wages and | salaries | 3,223,138 | 3,002,306 | ||
| Social security costs | 304,862 | 274,111 | |||
| Contribution | to defined | contribution | pension schemes | 523,770 | 505,574 |
| 4,051,770 | 3,781,991 |
| 2022 | 2021 | |
|---|---|---|
| Head and teachers | 87 | 79 |
| Welfare and maintenance | 20 | 19 |
| Bursary and administration | 26 | 25 |
| 133 | 123 |
| Long-term | Short-term | Furniture | ||||
|---|---|---|---|---|---|---|
| Freehold | leasehold | leasehold | llllotor | and | ||
| property | property 6 |
property 6 |
vehicles | fittings 6 |
Total 6 |
|
| Cost or valuation | ||||||
| At 1 September 2021 | 1,504,409 | 1,439,033 | 139,894 | 18,069 | 1,077,318 | 4,178,723 |
| Additions | 21,690 | 21,690 | ||||
| Disposals | (7,719) | (7,719) | ||||
| At 31 August 2022 | 1,504,409 | 1,439,033 | 139,894 | 10,350 | 1,099,008 | 4,192,694 |
| Depreciation | ||||||
| At 1 September 2021 | 259,174 | 470,859 | 98,881 | 15,999 | 892,771 | 1,737,684 |
| Charge for the year | 25,088 | 28,780 | 10,921 | 2,070 | 50,646 | 117,505 |
| On disposals | (7,719) | (7,719) | ||||
| At 31 August 2022 | 284,262 | 499,639 | 109,802 | 10,350 | 943,417 | 1,847,470 |
| Net book value | ||||||
| At 31 August 2022 | 1,220,147 | 939,394 | 30,092 | 155,591 | 2,345,224 | |
| At 31August 2021 | 1,245,235 | 988,174 | 41,013 | 2,070 | 184,547 | 2,441,039 |
| 2022 | 2021 | ||
|---|---|---|---|
| Due within | one year | ||
| Outstanding | fees | 1,751,660 | 1,475,320 |
| Other debtors | 408 | 6,827 | |
| Prepayments | and accrued income | 95,613 | 44,794 |
| 1,847,681 | 1,526,941 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| 6 | 5 | ||||||
| Bank loans | 110,353 | 71,430 | |||||
| Pupil deposits | 169,810 | 166,950 | |||||
| Trade creditors | 57,287 | 15,283 | |||||
| Other taxation and | social | security | 87,364 | 64,758 | |||
| Other creditors | 159,670 | 202,425 | |||||
| Accruals and deferred | income | 2,728,312 | 2,157,502 | ||||
| 3,312,796 | 2,678,348 | ||||||
| 2022 | 2021 | ||||||
| F | 5 | ||||||
| Deferred income at |
1 September | 2021 | 1,958,354 | 1,804,062 | |||
| Resources deferred | during | the year | 2,253,717 | 1,958,354 | |||
| Amounts released |
from previous | periods | (1,958,354) | (1,804,062) | |||
| 2,253,717 | 1,958,354 |
| Statement offunds (continued) |
||||
|---|---|---|---|---|
| Statement offunds - prior year |
||||
| Balance at | Balance et | |||
| 1 September | 31August | |||
| 2020 | Income | Expenditure | 2021 | |
| Unrestricted funds |
||||
| General Funds - all funds |
1,302,698 | 5,685,783 | (5,368,678) | 1,619,803 |
| Restricted funds | ||||
| Head's Strategic Fund | 2,589 | 2,589 | ||
| Chorister Fund |
896 | 896 | ||
| Hardship Bursary Fund |
8,081 | 8,081 | ||
| MUGA Project | 11,668 | (5,834) | 5,834 | |
| Arts Council funding | 2,830 | 30,503 | (26,802) | 6,531 |
| Tim Henman funding |
8,502 | 8,810 | (12,061) | 5,251 |
| Friends ofLCS | 5,505 | 4,530 | (10,815) | (780) |
| 28,505 | 55,409 | (55,512) | 28,402 | |
| Total offunds | 1,331,203 | 5,741,192 | (5,424,190) | 1,648,205 |
| Summary | offunds - current y | ear | |||
|---|---|---|---|---|---|
| Balance at 1 | Balance at | ||||
| September | 31August | ||||
| 2021 | Income | Expenditure | 2022 | ||
| E | 6 | 6 | |||
| General funds | 1,619,803 | 6,210,646 | (5,970,971) | 1,859,478 | |
| Restricted | funds | 28,402 | 125,567 | (55,813) | 98,156 |
| 1,648,205 | 6,336,213 | (6,026,784) | 1,957,634 |
| Summar | y | offunds - prior year | |||||
|---|---|---|---|---|---|---|---|
| Balance at | Balance at | ||||||
| 1 | September | 31August | |||||
| 2020 | Income | Expenditure | 2021 | ||||
| 6 | 6 | ||||||
| General | funds | 1,302,698 | 5,685,783 | (5,368,678) | 1,619,803 | ||
| Restricted | funds | 28,505 | 55,409 | (55,512) | 28,402 | ||
| 1,331,203 | 5,741,192 | (5,424,190) | 1,648,205 |
| Analysis | of n | et assets between funds - current |
year | ||
|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | |||
| funds | funds | funds | |||
| 2022 | 2022 | 2022 | |||
| f | E | ||||
| Tangible | fixed | assets | 2,345,224 | 2,345,224 | |
| Current | assets | 98,156 | 3,919,874 | 4,018,030 | |
| Creditors | due | within one year | (3,312,796) | (3,312,796) | |
| Creditors | due | in more than one year | (1,092,824) | (1,092,824) | |
| Total | 98,156 | 1,859,478 | 1,957,634 |
| Analysis | ofn | et assets between funds - |
prior year | |||
|---|---|---|---|---|---|---|
| Endowment | Restricted | Unrestricted | Total | |||
| funds | funds | funds | funds | |||
| 2021 | 2021 | 2021 | 2021 | |||
| 6 | 8 | |||||
| Tangible | fixed | assets | 5,834 | 2,435,205 | 2,441,039 | |
| Current | assets | 1,430,845 | 22,568 | 1,635,232 | 3,088,645 | |
| Creditors | due | within one year | (1,430,845) | (1,247,503) | (2,678,348) | |
| Creditors | due | in more than one year | (1,203,131) | (1,203,131) | ||
| Total | 28,402 | 1,619,803 | 1,648,205 |
| 16. | Reconciliation of net |
movement | in funds | to net cash flow from operating | to net cash flow from operating | activities | |
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| E | E | ||||||
| Nel income for the year (as per Statement | of Financial | Activities) | 309,429 | 317,002 | |||
| Adjustments for: |
|||||||
| Depreciation charges |
117,505 | /26, 055 | |||||
| Decrease/(increase) in |
debtors | (320,740) | 173,/66 | ||||
| Increase/(decrease) in |
creditors | 595,498 | (216,061) | ||||
| Bank interest received | (4,810) | (613) | |||||
| Bank and loan interest | paid | 30,883 | 28,439 | ||||
| Net cash provided by operating |
activities | 727,765 | 429,806 | ||||
| 17. | Analysis ofcash and | cash equivalents | |||||
| 2022 | 2021 | ||||||
| E | |||||||
| Cash in hand |
2,170,349 | 1,561,704 | |||||
| Total cash and cash equivalents | 2,170,349 | 1,561,704 | |||||
| 18. | Analysis ofchanges |
in net debt |
| At 1 | Other non- | ||||||
|---|---|---|---|---|---|---|---|
| September | cash | At 31 | |||||
| 2021 | Cash flows | changes | August 2022 | ||||
| E | E | E | |||||
| E | |||||||
| Cash | at bank and | in hand | 1,561,704 | 608,645 | 2,170,349 | ||
| Debt | due within | 1 | year | (71,430) | (71,384) | 32,461 | (110,353) |
| Debt | due after 1 | year | (1,203,131) | 110,307 | (1,092,824) | ||
| 287,143 | 537,261 | 142,768 | 967,172 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| 6 | 5 | |||
| Not later than | 1 year | 205,016 | 164,651 | |
| Later than | 1 year and not later than 5years | 427,250 | 517,626 | |
| Later than | 5 years | 2,650,552 | 2,660,215 | |
| 3,282,818 | 3,342,494 |