| Notes | Unrestricted | Restricted | 2021 | 2020 | ||
|---|---|---|---|---|---|---|
| Funds | Funds | Total | Total | |||
| R | ||||||
| INCOMING RESOURCES | ||||||
| Charitable activities |
2 | 20,145,935 | 20,145,935 | 18,493,772 | ||
| Activities to generate funds | ||||||
| Other income | (93,553) | (93,553) | 922,036 | |||
| Investment income |
904 | 904 | 23,030 | |||
| Total Incoming resources | 20,053,286 | 20,053,286 | 19,438,838 | |||
| RESOURCES EXPENDED | ||||||
| Charitable activities |
||||||
| School Expenditure | 16,463,941 | 70 | 16,464,011 | 16,126,608 | ||
| Grants and Donations | 4,511 | 4,511 | 2,074 | |||
| Total resources expended | 5 | 16,468,452 | 70 | 16,468,522 | 16,128,682 | |
| NET INCOME BEFORE GAINS AND LOSSES | 7 | 3,584,834 | {70) | 3,584,764 | 3,310,156 | |
| Pension scheme actuarial | gain /(loss) | 14 | 326,000 | 326,000 | (1,491,000) | |
| Net movements in funds |
3,910,834 | (70) | 3,910,764 | 1,819,156 | ||
| Funds brought forward |
39,444,430 | 2,937 | 39,447,367 | 37,628,211 | ||
| Fund balances carried forward | 43,355,264 | 2,867 | 43,358,131 | 39,447,367 |
| Notes | 2021 | 2020 | ||||
|---|---|---|---|---|---|---|
| Cash flows from operating | activities | |||||
| Net incoming resources for the financial year |
3,584,764 | 3,310,156 | ||||
| Adjustments for: |
||||||
| Depreciation oftangible assets |
1,399,295 | 1,104,606 | ||||
| Interest received | {904) | (23,030) | ||||
| Interest paid | 56,504 | 79,626 | ||||
| Decrease / (increase) in debtors |
13,546 | 52,379 | ||||
| Increase/ (decrease) in creditors |
501,268 | (588,533) | ||||
| (Profit) / Loss on disposal of | fixed assets | (5,000) | 1,682 | |||
| Pension costs | 900,000 | 622,000 | ||||
| Pension contributions | (390,000) | (270,000) | ||||
| Net cash generated from operating |
activities | 6,059,473 | 4,288,886 | |||
| Cash flows from investing | activities | |||||
| Purchases oftangible assets | (781,137) | (4,76T,230) | ||||
| Proceeds from the sale offixed assets | 5,000 | 751 | ||||
| Interest received | 904 | 23,030 | ||||
| Net cash used in investing | activities | (775,233) | (4,743,449) | |||
| Cash flows from financing | activities | |||||
| (Repayment) / Drawdown of |
long term | loan | (850,000) | (850,000) | ||
| Interest paid | (56,504) | (79,626) | ||||
| Net cash from /(used in) financing |
activities | (906,504) | (929,626) | |||
| Net increase/ {decrease) in | cash | 4,377,736 | (1,384,189) | |||
| Cash and cash equivalents | at the beginning | ofthe year | 5,353,419 | 6,737,608 | ||
| Cash and cash equivalents | at the end ofthe | year | 13 | 9,731,155 | 5,353,419 |
| STAFF COSTS | ||
|---|---|---|
| 2021 | 2020 | |
| E | E | |
| Staff salaries and wages Social security costs Pension costs' |
8,499,379 96$,040 2,318,348 |
8,399,430 961,773 1,976,025 |
| Restructuring costs |
5,104 | 11,249 |
| Staff costs | 11,791,871 | 11,348,477 |
| Agency staff costs Other staff costs |
8,712 33,228 |
40,650 32,894 |
| Total staff costs | 11833811 | 11422 021 |
| Made up as follows | ||
| Teaching staff Other |
9,058,362 2125448 |
8,975,766 2448 255 |
| 11833811 | 11422 021 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| No. | No. | |||
| E60,000 - E69,999 | 32 | 33 | ||
| E70,000 - E79,999 | 9 | 3 | ||
| E80,000 - E89,999 | 3 | |||
| E90,000 - E99,999 | 1 | |||
| E100,000 - E109,999 | ||||
| E110,000 - E119,999 | ||||
| E140,000 - E149,999 | ||||
| E150,000 - Ef59,999 | ||||
| E250,000 -E259,999 |
| 2021 | 2020 | |
|---|---|---|
| f | f | |
| 1,399,295 | 1,104,606 | |
| 15&576 | 14,658 | |
| Freehold land |
Furniture and |
|
| and buildings | equipment | Total |
| f | f | |
| 50,648,011 | 2,273,204 | 52,921,215 |
| 259,592 | 521,545 | 781,137 |
| (1,671,619) | 1,671,619 ~273056 |
~273 058 |
| 49,235,984 | 4,193,310 | 63,429,294 |
| 7,861,323 | 1,880,796 | 9,742,119 |
| 990,217 | 409,078 | 1,399,295 |
| ~10502 | (273,058) 19502 |
(273,058) |
| 8,832,038 | 2,036,318 | 10,868,356 |
| 404D3 048 | 2 158092 | 42 560 S38 |
| 42 786 688 | 302408 | 43 1790SD |
| 2021 | 2020 |
|---|---|
| f | f |
| 11,679 | 17,250 |
| 10,110 | 62,532 |
| 320193 | 275 946 |
| 342182 | 355720 |
| 2021 | 2020 |
| f | f |
| 393,567 | |
| 162,&86 | 138,441 |
| 534,984 | 587,769 |
| 312,830 | 256,384 |
| 850 ODD | 850 000 |
| 2 254 267 | 1 832 594 |
| e) | Amounts recognised in the Balance |
Sheet | |||||||
|---|---|---|---|---|---|---|---|---|---|
| At 31July | At 31 July | ||||||||
| 2021 | 2020 | ||||||||
| R | K | ||||||||
| Present value ofthe defined benefit obligation |
(12,217,000) | (10,990,000) | |||||||
| Fair value of Fund assets (bid value) | 7257000 | 6214000 | |||||||
| (Deficit)lBurplus | 4,960,000 | 4776000 | |||||||
| Net defined beneflt (liability)/asset | 4960 OOQ | 4776000 | |||||||
| f) | Changes in the present value ofthe |
defined | benefit obligation | were | as follows: | ||||
| At 31July | At 31 July | ||||||||
| 2021 | 2020 | ||||||||
| 6 | |||||||||
| Openlnq defined benefit obligation |
(10,990,000) | (8,598,000) | |||||||
| Service cost | (830,000) | (556,000) | |||||||
| Interest cost | (148,000) | (180,000) | |||||||
| Employee contributions | (112,000) | (94,000) | |||||||
| Experience (loss)/gain on defined benefit obligation |
200,000 | (409,000) | |||||||
| Change in financlal assumptlons |
(676,000) | (1,213,000) | |||||||
| Change in demographic assumptions |
141,000 | (85,000) | |||||||
| Past service costs, including curtallments |
|||||||||
| Benefits paid net of transfers In |
190000 | 145000 | |||||||
| Define benefit obligation at end ofyear |
12217 QOO | 10990000 | |||||||
| g) | Changes in the fair value ofthe scheme assets |
were as follows: | |||||||
| At 31JUIY | At 31 July | ||||||||
| 2021 | 2020 | ||||||||
| K | R | ||||||||
| Openlnq fair value ofscheme assets |
6,214,000 | 5,665,000 | |||||||
| Interest on assets | 86,000 | 121,000 | |||||||
| Return on Assets less interest | 661,000 | 185,000 | |||||||
| Other actuarial gains /(losses) | 31,000 | ||||||||
| Administration expenses |
(8,000) | (7,000) | |||||||
| Employer contributions | 390,000 | 270,000 | |||||||
| Employee contributions Benefits paid plus unfunded net oftransfers |
In | 112,000 ~190000 |
94,000 145000 |
||||||
| Closing fair value offund assets | 7 257000 | 6214000 | |||||||
| h) | Sensitivity analysis: | ||||||||
| The sensitivity regarding the principal |
assumptions | used to measure the | scheme liabilities are | set out below: | |||||
| Change in assumptions as at 31July |
2021: | ||||||||
| Rooos | aOOOs | Rooos | |||||||
| Adjustment to discount rate |
&.1% | 0.0% | -01% | ||||||
| Present value of total obllqatlon | 11,963 | 12,217 | 12,477 | ||||||
| Projected service cost | 861 | 889 | 918 | ||||||
| Adjustment to long term salary increase |
1% | 0,0% | -0,1% | ||||||
| Present value of total obligation | 12,246 | 12,217 | 12,188 | ||||||
| Projected service cost | 890 | 889 | 889 | ||||||
| Adjustment to pension increases and |
deferred | revaluation | +0.1% | 0,0% | -0,1% | ||||
| Present value oftotal obligation | 12,444 | 12,217 | 11,994 | ||||||
| Projected service cost | 917 | 889 | 862 | ||||||
| Adjustment to life expectancy assumptions |
+1year | None | -1 year | ||||||
| Present value of total obligation | 12,766 | 12,217 | 11,692 | ||||||
| Projected service cost | 930 | 889 | 849 |
| NET ASS | ETS | ||||
|---|---|---|---|---|---|
| Fixed | Net Current | Long term | |||
| Assets | Assets | Llabrlibes | Total | ||
| K | K | E | E | ||
| Restricted | funds | 2,867 | 2,867 | ||
| Unrestricted | funds | 42 56D 938 | 7816203 | ~7021 877 | 43355264 |
| 42 580938 | 7 819070 | ~7021877 | 43358 131 |
| Year Ended 31July 2020 | Unrestricted | Restricted | 2020 | |
|---|---|---|---|---|
| Funds | Funds | Total | ||
| F. | E | |||
| INCOMING RESOURCES |
||||
| Charitable activities |
18,493,772 | 18,493,772 | ||
| Activities to generate funds | ||||
| Other income | 922,036 | 922,036 | ||
| Investment income |
23527 | 23530 | ||
| Total Incoming resources | 19438 835 | 10430038 | ||
| RESOURCESEXPENDED | ||||
| Charitable activies | ||||
| School Expenditure | 16,126,445 | 163 | 16,126,608 | |
| Grants and Donations | 2074 | 2074 | ||
| Total resources expended | 16128510 | 163 | 16128682 | |
| NET INCOME BEFOREGAINS AND LOSSES | 3,310,316 | (160) | 3,310,156 | |
| Pension scheme actuarial | gain / (loss) | (1,491,000) | (1,491,000) | |
| Net movements In funds |
1 019316 | 160 | 1 810150 | |
| Funds brought forward |
37,625,114 | 3,097 | 37,628,211 | |
| Fund balances carried forward | 38444 430 | 2 937 | 30447 367 |