2023-08-31-accounts

				Page
Reference and administrative		details ofthe School, its Governors	and advisers	1-2
Governors' report				3-15
Independent auditors'	report	on the financial statements		16-18
Statement offinancial	activities			19
Balance sheet				20
Statement ofcash flows				21
Notes to the financial	statements			22-37

Governors			Mr E Lunt BA MA	AKC	AKC	AKC	AKC	PGCE NPQH ARSM, Acting Chair	PGCE NPQH ARSM, Acting Chair	PGCE NPQH ARSM, Acting Chair	PGCE NPQH ARSM, Acting Chair
			Ms N Dawes OBE
			The Very Rev'd A		Dorber BA				MTh		FRSA (resigned 31 March 2023)
			The Right Rev'd J		E	Mcfarlane				(appointed 20 July 2023)
			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 (resigned						14April 2023)
			The Rev'd Canon		Dr G			Platten		(resigned 23 June 2023)
			Mr J Neville
			Mr J Morris (appointed					10January			2023)
Company	registered
number			07302696
Charity registered
number			1137481
Registered		office	The Palace
			The Close
			Lichfield
			Staffordshire
			WS137HL
Bursar			Mrs P A Sharratt	FCCA				(resigned			1 August 2023)
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
				2023	2023	2023	2022
			Note			E
Income from:
Donations and	legacies			33,215		33,215	85, '/00
Charitable activities				83,393	7,036,720	7,120,113	6,246,303
investments					42,903	42,903	4,810
Total Income				116,608	7,079,623	7,196,231	6,336,213
Expenditure on:
Charitable activities				63,452	7,023,240	7,086,692	6,026,784
Total expenditure				63,452	7,023,240	7,086,692	6,026,784
Net movement	in funds			53,156	56,383	109,539	309,429
Reconciliation	offunds:
Total funds brought		forward		98,156	1,859,478	1,957,634	1,648,205
Net movement	in funds			53,156	56,383	109,539	309,429
Total funds carried forward				151,312	1,915,861	2,067,173	1,957,634

					2023		2022
			Note
Fixed assets
Tangible assets					2,315,304		2,345,224
					2,315,304		2,345,224
Current assets
Debtors			10	2,102,784		1,847,681
Cash at bank and	in hand			1,978,974		2,170,349
				4,081,758		4,018,030
Creditors: amounts	falling	due within one
year			11	(3,341,281)		(3,312,796)
Net current assets					740,477		705,234
Total assets less	current	liabilities			3,055,781		3,050,458
Creditors: amounts	falling	due after more
than one year			12		(988,608)		(1,092,824)
Total net assets					2,067,173		1,957,634
Charity funds
Restricted funds			13		151,312		98,156
Unrestricted funds			13		1,915,861		1,859,478
Total funds					2,067,173		1,957,634

				2023	2022
			Note
Cash flows from operating	activities
Net cash used in operating	activities			7,139	727,765
Cash flows from investing	activities
Purchase oftangible fixed assets				(87,595)	(21,690)
Investment income				42,903	4,810
Net cash used in investing	activities			(44,692)	(16,880)
Cash flows from financing	activities
Repayments of borrowing				(102,938)	(7'/, 357)
Bank and loan interest paid				(50,884)	(30,883)
Net cash used in financing	activities			(153,822)	(102,240)
Change in cash and cash	equivalents in	the year		(191,375)	608,645
Cash and cash equivalents	at the beginning	ofthe year		2,170,349	1,561,704
Cash and cash equivalents	at the end of	the year	17	1,978,974	2,170,349
The notes on pages 22 to 37form part ofthese financial statements

	Restricted	Total	Total
	funds	funds	funds
	2023	2023	2022
	E		E
Donations	33,215	33,215	85,100
Total 2022	85,100	85,100

		Restricted	Unrestricted	Total	Total
		funds	funds	funds	funds
		2023	2023	2023	2022
				F
Fees receivable			6,483,235	6,483,235	5,812,149
Other educational	income	83,393	553,485	636,8'78	434,154
		83,393	7,036,720	7,120,113	6,246,303
Total 2022		40,467	6,205,836	6,246,303
				2023	2022
School Fees Receivable
Fees receivable				7,470,820	6,751,163
Less: Remissions				(995,921)	(939,014)
				6,474,899	5,812,149

		Restricted	Unrestricted
		funds	funds	Total	Total
		2023	2023	2023	2022
			F	F
Teaching costs			4,104,227	4,104,227	3,610,538
Welfare			669,962	669,962	558,440
Premises			963,833	963,833	906,425
Support costs ofschooling		63,452	1,235,692	1,299,144	905,925
Governance	costs		49,526	49,526	45,456
		63,452	7,023,240	7,086,692	6,026,784
Total 2022		55,813	5,970,971	6,026,784

					Total	Total
		Staff costs	Depreciation	Other costs	funds	funds
		2023	2023	2023	2023	2022
			F		E
Teaching costs		3,633,052		471,175	4,104,227	3,610,538
Welfare		92,020		577,942	669,962	558,440
Premises		230,536	64,783	668,514	963,833	906,425
Support costs ofschooling		729,736	52,732	516,676	1,299,144	905,925
Governance	costs			49,526	49,526	45,456
		4,685,344	117,515	2,283,833	7,086,692	6,026,784
Total 2022		4,051,770	115,433	1,859,581	6,026,784

				2023	2022
				F
Fees payable	to the School's auditor		for the audit ofthe School's annual
accounts				4,725	4,500
Fees payable	to the School's auditor		in respect of:
All non-audit	services not included	above		1,125	1,075

Staff costs
				2023	2022
Wages and	salaries			3,781,767	3,223,138
Social security costs				362,209	304,862
Contribution	to defined	contribution	pension schemes	608,348	523,770
				4,752,324	4,051,770

	2023	2022
Head and teachers	95	87
Welfare and maintenance	19	20
Bursary and administration	29	26
	143	133

		Long-term	Short-term		Furniture
	Freehold	leasehold	leasehold	Motor	and
	property	property	property	vehicles	fittings	Total
			F	E
Cost or valuation
At 1 September 2022	1,504,409	1,439,033	139,894	10,350	1,099,008	4,192,694
Additions					87,595	87,595
At 31August 2023	1,504,409	1,439,033	139,894	10,350	1,186,603	4,280,289
Depreciation
At 1 September 2022	284,262	499,639	109,802	10,350	943,417	1,847,470
Charge for the year	25,088	28,781	10,914	-	52,732	117,515
At 31 August 2023	309,350	528,420	120,716	10,350	996,149	1,964,985
Net book value
At 31August 2023	1,195,059	910,613	19,178		190,454	2,315,304
At 31August 2022	1,220,147	939,394	30,092		155,591	2,345,224

		2023f	2022
Due within	one year
Outstanding	fees	1,915,067	1,751,660
Other debtors		54,607	408
Prepayments	and accrued income	133,110	95,613
		2,102,784	I,847,681

Creditors: Amounts			falling due	within one year
					2023	2022
					E
Bank loans					111,631	110,353
Pupil deposits					155,300	169,810
Trade creditors					147,035	57,287
Other taxation and	social security				94,571	87,364
Other creditors					167,143	159,670
Accruals and deferred			income		2,665,601	2,728,312
					3,341,281	3,312,796
					2023	2022
Deferred income at		1	September	2022	2,253,717	1,958,354
Resources deferred		during the year			2,511,873	2,253,717
Amounts released	from previous			periods	(2,253,717)	(1,958,354)
					2,511,873	2,253,717

Statement offunds - c	urrent year
		Balance at 1			Balance at
		September			31August
		2022	Income	Expenditure	2023
		F
Unrestricted funds
General Funds - all funds		1,859,478	7,079,623	(7,023,240)	1,915,861
Restricted funds
Head's Strategic Fund		2,589			2,589
Chorister Fund		896			896
Hardship Bursary Fund		8,081			8,081
Arts Council funding		13,421	25,239	(28,095)	10,565
Tim Henman funding		2,094			2,094
Friends of LCS		(14,025)	27,462	(9,845)	3,592
Prizes - Organ fund		100	200		300
John Heath Musical Endowment		85,000	21,250	(15,588)	90,662
Ukrainian Music			938	(750)	188
Jane Holmes restricted	funds		41,519	(9,174)	32,345
		98,156	116,608	(63,452)	151,312
Totaloffunds		1,957,634	7,196,231	(7,086,692)	2,067,173

Statement offunds (continued)
Statement offunds - prior year
	Balance at			Balance at
	1September			31August
	2021	Income	Expenditure	2022
Unrestricted funds
General Funds - all funds	1,619,803	6,210,646	(5,970,971)	1,859,478
Restricted funds
Head's Strategic Fund	2,589			2,589
Chorister Fund	896			896
Hardship Bursary Fund	8,081			8,081
MUGA Project	5,833		(5,833)
Arts Council funding	6,532	37,685	(30,796)	13,421
Tim Henman funding	5,251	2,782	(5,939)	2,094
Friends of LCS	(780)		(13,245)	(14,025)
Prizes - Organ fund		'/00		100
John Heath Musical Endowment		85,000		85,000
	28,402	'/25, 567	(55,813)	98,156
Total offunds	1,648,205	6,336,213	(6,026,784)	1,957,634

Summary offunds - current y	ear
	Balance at 1			Balance at
	September			31August
	2022	Income	Expenditure	2023
General funds	1,859,478	7,079,623	(7,023,240)	1,915,861
Restricted funds	98,156	116,608	(63,452)	151,312
	1,957,634	7,196,231	(7,086,692)	2,067,173

Summary	offunds - prior year
		Balance at			Balance at
		1September			31August
		2021	Income	Expenditure	2022
					E
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

Analysis	of n	et assets between funds -current year
			Restricted	Unrestricted	Total
			funds	funds	funds
			2023	2023	2023
				E
Tangible	fixed	assets		2,315,304	2,315,304
Current	assets		151,312	3,930,446	4,081,758
Creditors	due	within one year		(3,341,281)	(3,341,281)
Creditors	due	in more than one year		(988,608)	(988,608)
Total			151,312	1,915,861	2,067,173
Analysis	of net assets between funds - prior year
			Restricted	Unrestricted	Total
			funds	funds	funds
			2022	2022	2022
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

						2023	2022
						F
	Net income for the year (as per Statement			of Financial Activities)		109,539	309,429
	Adjustments for:
	Depreciation charges					117,515	117,505
	Increase in debtors					(255,103)	(320,740)
	Increase in creditors					27,207	595,498
	Bank interest received					(42,903)	(4,810)
	Bank and loan interest	paid				50,884	30,883
	Net cash provided by operating		activities			7,139	727,765
17.	Analysis ofcash and	cash equivalents
						2023	2022
	Cash in hand					1,978,974	2,170,349
	Total cash and cash equivalents					1,978,974	2,170,349
18.	Analysis ofchanges	In net debt
					At 1
					September		At 31
					2022	Cash flows	August 2023
	Cash at bank and in hand				2,170,349	(191,375)	1,978,974
	Debt due within 1 year				(110,353)	(1,278)	(111,631)
	Debt due after 1 year				(1,092,824)	104,216	(988,608)
					967,172	(88,437)	878,735

			2023	2022
			F
Not later than		1 year	185,566	205,016
Later than	1 year and not later than 5years		560,454	427,250
Later than	5years		2,773,988	2,650,552
			3,520,008	3,282,818