2021-07-31-accounts - The Leys And St Faith's Schools Foundation

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					Unrestricted	Restricted	Endowed	Total	Total
					Funds	Funds	Funds	Funds	Funds
								2021	2020
				Notes	8'000	8'000	8'000	8'000	8000
Income and endowments		from:
Charitable Activities
School fees (net) Other educational income					22,162 519			22,162 519	21,474 1,056
Other activities					112			112	29
Voluntary sources Grants and Donations					1,345	785		2,130	1,215
Investments
Investment income					190	122		312	301
Bank and other interest					3	1		4	17
Other trading activities Non-ancillary trading income					252			252	214
Total income					24,583	908		25,491	24,306
Expenditure on:
Raising funds Non-ancillary trading Fundraising and Development					244 147	23		244 170	213 176
Financing costs under Advance Contracts			Fee		141			141	168
Finance costs					42			42	64
Bank and Mortgage interest Investment Management Fees					106 38			106 38	147 29
Total deductible costs					718	23		741	797
Charitable activities
Education and grant making					21,662	158		21,820	22,099
Total expenditure					22,380	181		22,561	22,896
Net incoming funds from operations
before transfers and investment
gains					2,203	727		2,930	1,410
Investment gains /(losses)					585	152	1,380	2 117	(90)
Transfer between funds				17	35	(35)
Net income and capital inflow					2,823	844	1,380	5,047	1,320
Fund balances at 1 August	2020				29,592	1,550	7,359	38,501	37,181
FUND BALANCES at 31July		2021		14	32,415	2,394	8,739	43,548	38,501

			Notes	Group 2021 8'000	Group 2020 8'000	Foundation 2021 8'000	Foundation 2020 8'000
FIXEDASSETS Tangible fixed assets Investments				33,869 12,822	35,072 10,695	33,852 12,822	35,049 10,695
				46,691	45,767	46,674	45,744
CURRENT ASSETS Stocks Debtors payable within Cash	one	year		119 617 10,929	110 573 5 113		11 705 5,078
				11,665	5,796	11,633	5,794
CREDITORS: payable	within	one year	10	(10,607)	(8,351)	(10,568)	(8,336)
NET CURRENT ASSETS/(LIABILITIES)				1,058	(2,555)	1,065	(2,542)
TOTAL ASSETS LESS	CURRENT LIABILITIES			47,749	43,212	47,739	43,202
CREDITORS: due after Advance fees Loans	more	than one year	12 11	(1,036) (3,165)	(906) (3,805)	(1,036) (3,165)	(906) (3,805)
TOTAL NET ASSETS			14	43,548	38,501	43,548	38,491
FUNDS PERMANENT ENDOWED FUNDS EXPENDABLE ENDOWED FUNDS RESTRICTED FUNDS UNRESTRICTED FUNDS			15 16 17 18	4,454 4,285 2,394 32,415	3,750 3,609 1,550 29,592	4,454 4,285 2,394 32,405	3,750 3,609 1,550 29,582
				43,548	38,501	43,538	38,491

								2021	2020
						Notes		8'000	8'000
CASH FLOWS FROM OPERATING			ACTIVITIES:
Net cash	provided by operating activities					23		6,350	855
CASH FLOWS FROM INVESTING ACTIVITIES
Investment income recei pts Bank interest received							312 4		301 17
Purchase	of tangible fixed	assets					(162)		(504)
Purchase	of investments						(48)		(17)
Net cash	provided/(used)	by investing activities						106	(203)
CASH FLOWS FROM FINANCING			ACTIVITIES:
Repayments of loans and		mortgage	borrowings				(640)		(640)
Net cash	(used) financing	activities						(640)	(640)
Change in	cash and cash	equivalents	in the	reporting	period			5,816	12
Cash and	cash equivalents	at the beginning		of the period				5,113	5,101
Cash and	cash equivalents	at the end of the		reporting	period			10,929	5,113

ed assets preciation	down to t rates are:	heir estimated residual value over their esti	mated useful lives. The
			Per Annum
Freehold	land		Nil
Freehold	buildings off	site rebuild cost used for depreciation	2%
Freehold	buildings on	site new build cost used	2%
Freehold	buildings on	site total refurbishment	7 —20 years
Buildings	on leasehold	land	Length of lease
Plant and	machinery		10 - 20%
Fixtures,	fittings and equipment		7 —34%

	SCHOOL FEES										2021	2020
											8'000	8'000
	Fees receivable	consist				of:
	School fees										23,806	22,900
	Less: scholarships,			bursaries			and allowances				(1,802)	(1,638)
											22,004	21,262
	Add back: Bursaries			and		other awards		paid	by restricted	funds	158	212
											22,162	21,474
3.	CHARITABLE ACTIVITES				- OTHER INCOME						2021	2020
											8'000	8000
	Other educational		charitable				activities
	Entrance and registration					fees					81	96
	Recharge extra-curricular					activities					125	450
	Pupil welfare										59
	Courses and sub-lettings										254	461
	Summer School											49
											519	1,056
	Other activities
	School fees refund		scheme commissions									12
	Other										112	17
											112	29
	GRANTS AND DONATIONS				RECEIVABLE
	2021								UN RESTRICT	ED	RESTRICTED	TOTAL
									8'000		8'000	8'000
	Donations									3	480	483
	Donations for bursaries				re	Wesley Scholars					41	41
	Legacies								908		264	1,172
	Furlough grant								434			434
									1,345		785	2,130
	2020								UNRES TRICTED		RESTRlcTED	TOTAL
									8'000		8'000	8'000
	Donations									45	394	439
	Donations for bursaries			re Wesley Scholars							65	65
	Furlough grant								711			711
									756		459	1,215
5.	OTHER TRADING ACTIVITIES
	Trading income										2021	2020
											8'000	8000
	Leys Enterprises	(Cambridgel					Ltd				252	214

6. ANALYSIS OF EXPENDITURE	6. ANALYSIS OF EXPENDITURE
2021		Staff	Other	Depreciation	Total
		costs	costs
		8'000	8'000	8'000	8'000
Costs of raising funds:
Non-ancillary trading		54	184		244
Fundraising and Development		107	63		170
Financing costs under advance fee
contracts			141		141
Financing costs			42		42
Bank and mortgage	interest		106		106
Investment managers	charge		38		38
Total costs of raising	funds	161	574		741
Charitable activities:
Education and grant	making
Teaching		10,686	1,222	125	12,033
Welfare		1,094	1,777	76	2,947
Premises		873	1,884	1,158	3,915
Support costs and governance		1,889	773		2,662
Schools' operating costs		14,542	5,656	1,359	21,557
Grants, awards and prizes			263		263
Cost of charitable activities		14,542	5,919	1,359	21,820
Total expenditure		14,703	6,493	1,365	22,561
2020		Staff	Other	Depreciation	Total
		costs	costs
		6"000	8000	8000	8000
Costs ofraising funds:
Trading costs		57	150		213
Fundraising for voluntary resources		92	84		176
Financing costs under advance fee
contracts			168		168
Financing costs			64		64
Bank and mortgage interest			147		147
Investment managers	charge		3829		29
Total costs ofraising	funds	149	642		797
Charitable activities
Education and grant making
Teaching		10,745	1,465	119	12,329
Welfare		1,051	1,633	77	2,761
Premises		913	1,703	1,320	3,936
Support costs and governance		1,916	845		2,761
Schools' operating costs		14,625	5,646	1,516	21,787
Grants, awards and prizes			312		312
Cost of charitable activities		14,625	5,958	1,516	22,099
Total expenditure		14,625	6,600	1,522	22,896

					2021	2020
					8'000	8000
Governance expenditure	includes:
Auditors' remuneration	for	audit services			25	20
Reimbursement of personal		expenses	to Governors —travel costs
					25	20
Total staff costs comprised:
The aggregated payroll	costs for the year were			as follows:
Wages and salaries					11,567	11,627
Social security costs					1,136	1,148
Pension contributions					2,000	1,999
					14,703	14,774
Aggregate employee-benefits		of key management		personnel	1,619	1,581

number of higher paid employees	2021	2020
	No.	No.
Taxable emoluments bands:
C 60,001 - 6 70,000	18	8
E 70,001 —680,000	1	1
E 80,001 - E90,000	1	1
6100,001 - 6110,000	1	1
6150,001 —2160,000	1	1
C170,001 - f180,000	1	1
	23	13

											Permanent
											Endowment/
											Expendable
									Unrestricted	Restricted	Endowed	Total
									6'000	6'000	6'000	6'000
Balance	1 August 2020								2,872	737	7,086	10,695
Additions	at cost								683	198	1,574	2,455
Disposal	proceeds								(732)	(187)	(1,732)	(2,651)
Investment gains									585	152	1,380	2,117
Changes	in cash awaiting				investment				57	15	134	206
Closing market		value	31		July	2021			3,465	915	8,442	12,822
											2021	2020
Investments comprise:											8'000	8'000
Investments											12,534	10,613
Cash											288	82
											12,822	10,695
The above	investments			are in		listed	stocks.
The investment		holdings			at the year-end			were	UK C6.4m and	overseas E6.1m.
DEBTORS									Group		Foundation
									2021	2020	2021	2020
									f,'000	8'000	8'000	8'000
Amounts	falling due		in		less	than one year:
Fees									233	58	233	58
Sundry debtors									40	43	39	40
Prepayments									344	472	342	469
Due from subsidiary			undertaking								85	238
									617	573	699	705
CREDITORS
									2021	2020	2021	2020
									8'000	8'000	8'000	8'000
Amounts	falling due		within			one year
Trade creditors									198	294	169	289
Taxation	and social security								317	293	314	289
Loans and mortgages									640	640	640	640
Other creditors									207	256	207	256
Accruals									315	210	308	204
Deposits	from	parents							1,472	1,482	1,472	1,481
Deferred	income - fees			in advance			of term		505	489	505	489
Deferred	Income advance fees (see						note	12)	6,953	4,688	6,953	4,688
									10,607	8,351	10,568	8,336

Group and Foundation	2021	2020
	8'000	8'000
Within one year	50	62
Between one and five years	66	136
Over five years	24	25

2021
				Fixed		Net Current	Long Term
				Assets	Investments	Assets/(liabilities)	Liabilities	Total
				6'000	6'000	E'000	6'000	8'000
Permanent		endowment			4,310	144		4,454
funds
Expendable Restricted		endowed funds	funds		4,132 915	153 1,479		4,285 2,394
Unrestricted		funds		33,869	2,442	(731)	(3,165)	32,415
				33,869	11,799	1,045	(3,165)	43,548
Advance fees					1,023	13	(1,036)
				33,869	12,822	1,058	(4,201)	43,548
2020
				Fixed		Net Current	Long Term
				Assets	Investments	Assets/(liabilities)	Liabilities	Total
				C'000	C'000	6'000	F'000	E'000
Permanent		endowment			3,618	132		3,750
funds
Expendable		endowed	funds		3,468	141		3,609
Restricted	funds				737	813		1,550
Unrestricted		funds		35,072	1,979	(3,654)	(3,805)	29,592
				35,072	9,802	(2,568)	(3,805)	38,501
Advance fees					893	13	(906)
				35,072	10,695	(2,555)	(4,711)	38,501

2021	August			Investment	31July
	2020	Income	Expenditure	Gains	2021
	6'000	6'000	E'000	E'000	8'000
Endowment	3,750			704	4,454

	2020		1 August			Investment	31 July
			2019	Income	Expenditure	Losses	2020
			8'000	E'000	E'000	E'000	6'000
	Endowment		3,780			(30)	3,750
16.	EXPENDABLE	ENDOWED	FUNDS
						Transfers and
	2021		1 August			Investment	31July
			2020	Income	Expenditure	Gains	2021
			8'000	6'000	E'000	6'000	K'000
	Scholarships		3,609			676	4,285

2020	1	August 2018	Income	Expenditure	Investment Losses	31 July 2019
		8'000	6'000	E'000	E'000	C'000
Scholarship		3,638			(29)	3,609


2021					1 August				31July
								Investment
								Gains/
					2020	Income	Expenditure	Transfers	2021
					8'000	E'000	6'000	6'000	8'000
Wesley scholars fund					39	41	(37)		43
Scholarship					38	100	(100)		38
Ollie Feast						50			50
Development		funds
Great Hall					8				8
Chapel Centenary			fund		21				21
The gift of	education			(bursary)	1,028	440		152	1,620
Bursaries	(various)				62	117	(21)		158
Prize funds					62				62
Boat house		redevelopment			17				17
Vision studio					17	72		(35)	54
Other					120	3			123
Community		fund			138	85	(23)		200
					1,550	908	(181)	117	2,394

2020				1 August				31 July
				2019	Income	Expenditure	Transfers	2020
				2'000	6'000	6'000	6'000	C'000
Wesley scholars		fund		39	65	(65)		39
Scholarship				38	96	(96)		38
Development	funds
Great Hall				26			(19)	8
Chapel Centenary		fund		21				21
The gift of education Bursaries			(bursary)	810 30	224 83	(51)	(6)	1,028 62
Ely bursaries				62				62
Prize funds				17				17
Boat house	redevelopment			50			(33)	17
Other				78	42			120
Community	Fund			70	68			138
				1,241	579	(212)	(58)	1,550

UNRESTRICTED	FUNDS				Transfers/
2021		1 August	Income	Expenditure	Investment	31July
		2020			Gains	2021
		C'000	E'000	E'000	C'000	8'000
Designated funds
Gift of education		131	908			1,039
Funds towards HSE incident		250		(250)
Funds for COVID-19 bursaries		406		(183)		223
Unrestricted funds		28,805	23,675	(21,947)	620	31,153
Total Unrestricted	Funds	29,592	24,583	(22,380)	620	32,415


2020						Transfers/
			1 August	Income	Expenditure	Investment	31Juiy
			2019			Gains	2020
			8'000	8'000	8'000	6'000	8'000
Designated funds
Gift of	education		92				131
Funds	towards HSEincident		250		(50)		250
Funds	for COVID-19 bursaries			40			406
Unrestricted funds			28,430	23,032	(22,684)	27	28,805
Total unrestricted		funds	28,522	23,727	(22,684)	27	29,592

ANALYSIS OF CHANGES IN	ANALYSIS OF CHANGES IN	ANALYSIS OF CHANGES IN	NET	NET	DEBT
							1 August	Cash	31July
							2020	flows	2021
							S'OOO	8'000	6'000
Cash in bank							5,113	5,816	10,929
Advance fee payments		due within		one year			(6,169)	(2,256)	(8,425)
Advance fee payments		due after more than				one	(906)	(130)	(1,036)
year
Bank loans falling due		within	one	year			(190)		(190)
Bank loans falling due		after more		than one year			(2,567)	190	(2,377)
Mortgages falling due		within one year					(450)		(450)
Mortgages falling due		after more than one year					(1,238)	450	(788)
Total borrowings							(11,520)	(1,746)	(13,266)
Net Debt							(6;407)	4,070	(2,337)
RECONCILIATION	OF NET INCOME TO GROUP CASH						FLOW FROM	OPERATING
ACTIVITIES
							2021	2020
							8'000	8'000
Net income for the	reporting		period				2,930	1,410
(as per the statement		of financial		activities)
Adjustments for
Depreciation charge							1,365	1,522
Investment income	and interest						(316)	(318)
Investment managers		fees					38		29
(Increase)/decrease	in	stocks					(9)		9
(Increase)/decrease	in	debtors					(44)	568
Increase/(decrease)	in	creditors						(618)
(excluding advance	fee movement)
Increase/(decrease) creditors	in fees		in	advance		scheme	2,395	(1,745)
(Decrease) in parent	deposits						(9)		(2)
Net cash provided by		The Group's			operating
activities							6,350	855

24.	FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS
				Group	Group	Foundation	Foundation
				2021	2020	2021	2020
				8'000	8'000	8'000	8'000
Financial Financial Financial	assets measured at assets measured at liabilities measured	amortised cost (a) fair value (b) at amortised cost (c)		11,202 12,822 (2,798)	5,209 10,695 (2,837)	11,275 12,822 (2,762)	5,308 10,695 (2,828)
Net financial assets measured		at amortised	cost	21,226	13,067	21,335	13,175

Year ended 31July 2020			Unrestricted	Restricted	Endowed	Total
			Funds	Funds	Funds	Funds
						2020
			8'000	8'000	8'000	8'000
Income and endowments	from
Charitable Activities
School fees (net) Other educational income			21,474 1,056			21,474 1,056
Other ancillary activities			29			29
Voluntary sources Donations			756	459		1,215
Investments
Investment income			184	117		301
Bank and other interest			14	3		17
Other trading activities Non-ancillary trading income			214			214
Total income			23,727	579		24,306
Expenditure on
Raising funds Non-ancillary trading			213			213
Fund-raising for voluntary	resources		176			176
Financing costs under Advance Contracts		Fee	168			168
Finance costs			64			64
Bank and Mortgage interest			147			147
Investment Management	Fees		29			29
Total deductible costs			797			797
Charitable Activities
Schools and grant making			21,887	212		22,099
Total expenditure			22,684	212		22,895
NET INCOME			1,043	367		1,410
Investment gains			(25)	(6)	(59)	(90)
Transfers between funds			52	(52)
NET MOVEMENT IN FUNDS			1,070	309	(59)	1,320
Fund balances at 1 August	2019		28,522	1,241	7,418	37,181
FUND BALANCES at 31July 2020			29,592	1,550	7,359	38,501

urpluses earned by the	company as a do	nation under gift aid.
			2021	2020
			8'000	8'000
BALANCE SHEET
Tangible fixed assets			17	23
CURRENT ASSETS
Stock			102	99
Debtors			3	3
Cash			12	35
			117	137
CREDITORS: amounts	falling due within	one year	(124)	(150)
Net current liabilities			(7)	(13)
TOTAL NET ASSETS			10	10
CAPITAL AND RESERVES
Called up share capital Profit and loss account			10	10
			10	10

PROFIT	AND LOSS ACCOUNT	2021	2020
		6'000	8'000
Turnover		252	214
Cost of Sales		(226)	(195)
Gross profit		26	19
Administration		(18)	(18)
Net profit		8
Donation	to Parent under gift aid	(8)
Retained	profit for period