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|||||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|||||||||
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|||||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|
##
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||||||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||||||
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||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|
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|||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||
##
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|||||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|
##
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##
|||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|
##
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|||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|
##
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|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|
##
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##
|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|
##
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|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|
##
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##
|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|
##
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##
|||||||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|
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||||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|
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