COMPANY REGISTRATION NUMBER: 06459251
CHARITY REGISTRATION NUMBER: 1138341
Emmanuel School (Walsall) Company Limited by Guarantee Unaudited Financial Statements
31 August 2021
Emmanuel School (Walsall)
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the directors' report) | 1 |
| Accountants and business advisers report to the board of | |
| trustees on the preparation of the unaudited statutory financial | |
| statements | 6 |
| Statement of financial activities (including income and | |
| expenditure account) | 7 |
| Statement of financial position | 8 |
| Notes to the financial statements | 9 |
Emmanuel School (Walsall)
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Directors' Report)
Year ended 31 August 2021
The directors, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2021.
Reference and administrative details
Registered charity name Emmanuel School (Walsall) Charity registration number 1138341 Company registration number 06459251 Principal office and registered 36 Wolverhampton Road office Walsall West Midlands WS2 8PR The directors Mr J Swain Mr C McKane Mrs A Kendrick Mrs K Webb Company secretary Mr C McKane Accountants Adams Moore Limited Accountants and Business Advisers 38 - 39 Albert Road Tamworth Staffordshire B79 7JS
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Emmanuel School (Walsall)
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Directors' Report) (continued)
Year ended 31 August 2021
Structure, governance and management
Emmanuel School (Walsall) is constituted as limited company (registered number 6459251) which is a charity registered with the Charities Commission under the charity number 1138341.
The Board of Governors are the trustees and are responsible for the general control and management of the charity on a voluntary basis - they receive no remuneration or any other financial benefit for their services as trustees.
The trustees generally meet as a full board on a half-termly basis, unless circumstances demand additional meetings, to discuss the operational and financial affairs of the school, and to review any recommendations made by the Headmaster, School Manager and the staff Senior Management Team, who are immediately responsible for the day-to-day running of the school. Additional subcommittees meet regularly to manage and review finance and health & safety.
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Emmanuel School (Walsall)
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Directors' Report) (continued)
Year ended 31 August 2021
Objectives and activities
Emmanuel School provides high quality Christian education from nursery to GCSE, and our vision is to see pupils who:
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Love the Lord God with all their heart, soul and strength
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Love others
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Are eager to learn and fulfil their academic potential
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Recognise their abilities, gifts and passions and are encouraged to develop them fully- Go out and make a positive difference in the communities in which they live, work, worship and play.
We have a close relationship with the Walsall Afro-Caribbean Community Association (who are our landlords) and students usually attend their lunch club several times a year to sing and perform for the clients but this was not possible this year due to Covid restrictions. The younger pupils enjoy the use of the community garden which is on site. We also play an active part in our local community by ensuring that students are involved in activities in local care homes and churches several times a year but again this was curtailed due to Covid restrictions.
Covid-19
School was able to re-open fully in September 2020 after the governmentlifted the restrictions on schools at the end of the previous academic year. During the Autumn term several students and staff were asked to isolate due to positive Covid tests or contacts but school was able to remain open and although activities were not able to carry on as normal we tried to maintain a wide range of activities. Isolating students were provided work via Google Classrooms as in the previous school year.
Due to government restrictions, school was closed to all students from January to March 2021 and work was provided on Google Classrooms as before. School was able to re-open to all students at the beginning of March 2021 although additional restrictions such as mask wearing, staggered start and finish times and reduced outside activities were in place for much of the school year.
As in the previous year, several members of staff were furloughed at points during the year due to school closures or inability to work due to self-isolation. We received financial support under the goverment's Coronavirus Job Retention Scheme to cover 80% of their wages which reduced to 70% of wages later in the year. Emmanuel School paid the remaining 20%-30% of their wages to ensure that furloughed staff were not disadvantaged.
We are again very grateful to all staff for their hard work during this difficult time and to the whole school community for their support.
We are hopeful that Covid-related impacts on the school in future years will be reduced in comparison to this year and we do not envisage any further lockdowns though we have contingency plans in place for a range of future scenarios.
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Emmanuel School (Walsall)
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Directors' Report) (continued)
Year ended 31 August 2021
Achievements and performance
Academic Results
During this period, we entered nine candidates for GCSE qualifications although as with last year the exams were subsequently cancelled due to the Covid-19 pandemic and grades were awarded on the basis of teacher assessment. Of the 74 grades awarded, 85% were at grades 4/C and above and 46% of grades were awarded at grade 7/A and above. Of the nine candidates, 89% achieved 5 results at grade 4/C and above.
Building
We continue in the same building as last year and we are not experiencing any issues with space with the number of students currently on roll.
Staffing
Staff were given a small pay rise in September 2020 to ensure that they continue to be paid in line with the National Minimum Wage regulations.
We applied for the government's KickStart scheme and were successful so we have been able to give 6 young people a six month paid placement in the school with the DWP paying their salaries. We also received £7,500 in start up fees in addition to salaries in this period. These placements have meant that we have had additional support in classrooms and in the office and have given these young people valuable work experience.
Financial review
As Emmanuel School (Walsall) is an independent school, we receive negligible state funding, and the running costs of the school are met by parental fees and donations. There was a small decrease in the number of pupils to around 78.
The fee structure remained the same as in the previous year but the fees were increased by an average of 6% on the 2019/20 levels. Fee support remains available on application to those on lower incomes and several families were supported again this year.
We again received donations from a number of sources and have maintained the number of individuals supporting us on a monthly basis.
We ran a special appeal over Christmas 2020 to raise funds for new IT equipment and were able to purchase 18 new Chromebooks for students, replace the school's WiFi system and purchase a new laptop for one of the joint Head teachers.
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Emmanuel School (Walsall)
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Directors' Report) (continued)
Year ended 31 August 2021
Plans for future periods
Some staff salaries will rise during 2021-22 to reflect the increase in the national living wage which comes into force in April 2022.
In line with regulations, qualifying staff will continue to contribute to their pensions at a rate of 5% of qualifying salary in the year ahead. In addition, the employer contribution will remain at 3% of qualifying salary.
We are looking into possible additional activities and revenue streams for the school and hope to develop these plans over the next few years although such investigations were again curtailed by Covid-19 this year.
W Conclusion
We thank God for His continued faithfulness to the school and for the many blessings we have experienced during this difficult year and we continue to seek His guidance for the future development of the school.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report (incorporating the directors' report) was approved on 30 November 2021 and signed on behalf of the board of trustees by:
Mr J Swain Director
Mr C McKane Director
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Emmanuel School (Walsall)
Company Limited by Guarantee
Accountants and Business Advisers Report to the Board of Trustees on the Preparation of the Unaudited Statutory Financial Statements of Emmanuel School (Walsall)
Year ended 31 August 2021
As described on the statement of financial position, the directors of the charity are responsible for the preparation of the financial statements for the year ended 31 August 2021, which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes.
You consider that the charity is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
ADAMS MOORE LIMITED Accountants and Business Advisers
38 - 39 Albert Road Tamworth Staffordshire B79 7JS
30 November 2021
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Emmanuel School (Walsall)
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 80,258 | 80,258 | 72,084 |
| Charitable activities | 6 | 209,832 | 209,832 | 226,745 |
| Investment income | 7 | 3 | 3 | 6 |
| Other income | 8 | 11,899 | 11,899 | 3,871 |
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| Total income | 301,992 | 301,992 | 302,706 | |
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| Expenditure | ||||
| Expenditure on charitable activities | 9,10 | 317,386 | 317,386 | 273,451 |
| Other expenditure | 11 | 285 | 285 | 168 |
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| Total expenditure | 317,671 | 317,671 | 273,619 | |
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| Net (expenditure)/income and net movement in funds | (15,679) | (15,679) | 29,087 | |
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| Reconciliation of funds | ||||
| Total funds brought forward | 57,284 | 57,284 | 28,197 | |
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| Total funds carried forward | 41,605 | 41,605 | 57,284 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 16 form part of these financial statements.
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Emmanuel School (Walsall)
Company Limited by Guarantee
Statement of Financial Position
31 August 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Current assets | ||||
| Debtors | 15 | 38,687 | 47,412 | |
| Cash at bank and in hand | 5,878 | 20,793 | ||
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| 44,565 | 68,205 | |||
| Creditors: amounts falling due within one year | 16 | 2,960 | 10,921 | |
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| Net current assets | 41,605 | 57,284 | ||
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| Total assets less current liabilities | 41,605 | 57,284 | ||
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| Net assets | 41,605 | 57,284 | ||
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| Funds of the charity | ||||
| Unrestricted funds | 41,605 | 57,284 | ||
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| Total charity funds | 19 | 41,605 |
57,284 |
For the year ending 31 August 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 30 November 2021, and are signed on behalf of the board by:
Mr J Swain Mr C McKane Director Director
The notes on pages 9 to 16 form part of these financial statements.
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Emmanuel School (Walsall)
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in and a registered charity in England and Wales. The address of the registered office is 36 Wolverhampton Road, Walsall, West Midlands, WS2 8PR.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
No judgements or estimates have been used in these accounts.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the directors for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Emmanuel School (Walsall)
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
All fixed assets are initially recorded at cost.
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Emmanuel School (Walsall)
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
3. Accounting policies (continued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings - 25% straight line Equipment - 25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
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Emmanuel School (Walsall)
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
3. Accounting policies (continued)
Financial instruments (continued)
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
The company is limited by guarantee.
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Emmanuel School (Walsall)
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 28,661 | 28,661 | 18,890 | 18,890 | |
| Grants | |||||
| Grants receivable | 39,192 | 39,192 | 39,858 | 39,858 | |
| Government grant income | 12,405 | 12,405 | 13,336 | 13,336 | |
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| 80,258 | 80,258 | 72,084 | 72,084 | ||
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| 6. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| School fees | 209,716 | 209,716 | 225,439 | 225,439 | |
| Before/after school club | 116 | 116 | 1,306 | 1,306 | |
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| 209,832 | 209,832 | 226,745 | 226,745 | ||
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| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable type 1 | 3 | 3 | 6 | 6 | |
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| 8. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Other income | 11,899 | 11,899 | 3,871 | 3,871 | |
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| 9. | Expenditure on charitable activities | by fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Charitable activities | 317,386 |
317,386 |
273,451 |
273,451 |
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Emmanuel School (Walsall)
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
10. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Total funds | Total fund | |||
| directly | 2021 | 2020 | |||
| £ | £ | £ | |||
| Charitable activities | 317,386 | 317,386 | 273,451 | ||
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| 11. | Other expenditure | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Bank Charges | 285 | 285 | 168 | 168 | |
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12. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as | The total staff costs and employee benefits for the reporting period are analysed as | follows: |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Wages and salaries | 188,660 | 159,491 |
| Social security costs | 6,000 | 4,901 |
| Employer contributions to pension plans | 10,276 | 4,825 |
| Other employee benefits | 221 | 470 |
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| 205,157 | 169,687 | |
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The average head count of employees during the year was 17 (2020: 14). The average number of full-time equivalent employees during the year is analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| Number of staff | 17 | 14 |
|
|
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees
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Emmanuel School (Walsall)
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
14. Tangible fixed assets
| Fixtures and | ||||
|---|---|---|---|---|
| fittings | Equipment | Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 1 September 2020 and 31 August 2021 | 11,557 | 1,946 | 13,503 | |
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| Depreciation | ||||
| At 1 September 2020 and 31 August 2021 | 11,557 | 1,946 | 13,503 | |
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| Carrying amount | ||||
| At 31 August 2021 | – | – | – | |
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| At 31 August 2020 | – | – | – | |
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| 15. | Debtors | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Trade debtors | 35,284 | 44,009 | ||
| Other debtors | 3,403 | 3,403 | ||
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| 38,687 | 47,412 | |||
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| 16. | Creditors: amounts falling due within one year | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Trade creditors | 2,560 | 10,596 | ||
| Accruals and deferred income | 400 | 325 | ||
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| 2,960 | 10,921 | |||
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17. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £10,276 (2020: £4,825).
18. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Recognised in income from donations and legacies: | ||
| Government grants income | 12,405 |
13,336 |
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Emmanuel School (Walsall)
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
19. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 | September | 31 August 20 | ||
| 2020 | Income | Expenditure | 21 | |
| £ | £ | £ | £ | |
| General funds | 57,284 | 301,992 | (317,671) | 41,605 |
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| At | At | |||
| 1 | September | 31 August 20 | ||
| 2019 | Income | Expenditure | 20 | |
| £ | £ | £ | £ | |
| General funds | 28,197 | 302,706 | (273,619) | 57,284 |
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| Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | |||
| Funds | 2021 | |||
| £ | £ | |||
| Current assets | 44,565 | 44,565 | ||
| Creditors less than 1 year | (2,960) | (2,960) | ||
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| Net assets | 41,605 | 41,605 | ||
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| Unrestricted | Total Funds | |||
| Funds | 2020 | |||
| £ | £ | |||
| Current assets | 68,205 | 68,205 | ||
| Creditors less than 1 year | (10,921) | (10,921) | ||
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| Net assets | 57,284 | 57,284 | ||
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20. Analysis of net assets between funds
21. Financial instruments
The only financial instruments are trade debtors and trade creditors, all of which are repayable within one year and hence have not been discounted to net present value.
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