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||||Notes|Unrestricted|Restricted|2022|2021|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|Total|Total|
||||||f.|||
|INCOME from:||||||||
|Charitable
activities|||2|20,592,616||20,592,616|20,145,935|
|Activities to generate funds||||||||
|Other income||||333,384||333,384|(93,553)|
|Investment
income||||10,022||10,022|904|
|Total income||||20,936,022||20,936,022|20,053,286|
|EXPENDITURE on:||||||||
|Charitable
activities||||||||
|School Expenditure||||18,368,472||18,368,472|16,464,011|
|Grants and Donations||||4,168||4,168|4,511|
|Total expenditure|||5|18,372,640||18,372,640|16,468,522|
|NET INCOME BEFORE|GAINS &|LOSSES|7|2,563,382||2,563,382|3,584,764|
|Pension scheme actuarial|gain /(loss)||14|4,885,000||4,885,000|326,000|
|NET INCOME l NET MOVEMENT||IN FUNDS||7,448,382||7,448,382|3,910,764|
|Funds brought
forward||||43,355,264|2,867|43,358,131|39,447,367|
|Fund balances carried forward||||50,803,646|2,867|50,806,513|43,358,131|
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|||||Notes|2022|2021|
|---|---|---|---|---|---|---|
||||||R||
|Cash flows from operating|activities||||||
|Net income before gains per|SOFA||||2,563,382|3,584,764|
|Adjustments
for:|||||||
|Depreciation
oftangible assets|||||1,534,285|1,399,295|
|Interest received|||||(10,022)|(904)|
|Interest paid|||||13,503|56,504|
|Decrease / (increase)
in debtors|||||16,234|13,546|
|Increase/(decrease)
in creditors|||||508,621|501,268|
|(Profit) / Loss on disposal of|fixed assets||||(16,500)|(5,000)|
|Pension costs|||||997,000|900,000|
|Pension contributions|||||(407,000)|(390,000)|
|Net cash generated
from operating||activities|||5,199,503|6,059,473|
|STATEMENT OF CASHFLOWS|||||||
|Net cash generated
from operating||activities|||5,199,503|6,059,473|
|Cash flows from investing|activities||||||
|Purchases
of tangible assets|||||(961,750)|(781,137)|
|Proceeds from the sale offixed assets|||||16,500|5,000|
|Interest received|||||10,022|904|
|Net cash used in investing|activities||||(935,228)|(775,233)|
|Cash flows from financing|activities||||||
|(Repayment)
of long term loan|||||(1,587,500)|{850,000)|
|Interest paid|||||(13,503)|(56,504)|
|Net cash from I{used in) financing||activities|||(1,601,003)|(906,504)|
|Net increasel (decrease) in|cash||||2,663,273|4,377,736|
|Cash and cash equivalents|at the beginning||ofthe year||9,731,155|5,353,419|
|Cash and cash equivalents|at the end ofthe||year|13|12,394,428|9,731,155|
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|STAFF COSTS|||
|---|---|---|
||2022|2021|
||E|E|
|Staff salaries and wages|9,278,533|8,499,379|
|Social security costs|1,077,443|969,040|
|Pension costs'|2,521,531|2,318,348|
|Restructuring
costs|52,068|5,104|
|Staff costs|12,929,575|11,791,871|
|Agency staff costs|95,777|8,712|
|Other staff costs|24,112|33,228|
|Total staff costs|13449 484|11933811|
|Made up as follows|||
|Teaching staff|9,758,687|9,058,362|
|Other|3299777|2 775449|
||13948484|11833811|
|||2021||
|---|---|---|---|
||||No.|
|E60,000 - E69,999|36||32|
|E70,000 - E79,999|13||9|
|F80,000 - E89,999|1|||
|E90,000 - F99,999|1||3|
|E100,000-E109,999|3||1|
|E110,000-E119,999|||2|
|E120,000-F129,999||||
|E150,000-E159,999||||
|E160,000-E169,999||||
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|NET INCOME||||2022|2021|
|---|---|---|---|---|---|
|||||R|8|
|Net income is stated after|charging:|||||
|Depreciation||||1,534,285|1,399,295|
|Auditor's
remuneration||||16,356|15,576|
|||||Furniture||
|||Freehold|htnd|and||
|TANGIBLE ASSETS||and buildings||equipment|Total|
|||p||6||
|Cost as at 1 August 2021||49,235,984||4,193,310|53,429,294|
|Additions||129,499||832,251|961,750|
|Transfers
Disposals||16|382|~291977|~308359|
|Cost at 31July 2022||49,349,101||4,733,584|54,082,685|
|Depreciation||||||
|Depreciation as at 1 August 2021||8,832,038||2,036,318|10,868,356|
|Charge forthe year||999,085||535,200|1,534,285|
|Elimination
on disposal||(16,382)||(291,976)|(308,358)|
|Transfers||||||
|At 31July 2022||9,814,741||2,279,542|12,094,283|
|Net book value||||||
|At 31July 2022||30534|300|2454042|41,005,402|
|At31 July 2021||40 403|046|2 150092|42 600938|
|DEBTORS due within one year:||||||
|||||2022|2021|
|||||6|8|
|Trade debtors||||3,658|11,879|
|Other debtors||||3,550|10,110|
|Accrued income and prepayments||||318740|320193|
|||||325 948|342 102|
|CREDITORS: amounts|falling due within one year|||||
||||||2021|
||||||6|
|Trade creditors||||713,715|393,567|
|Taxation and social security||||271,572||
|Sundry creditors||||399,044|162,886|
|Accruah||||201,731|534,984|
|Fee deposits
and advance payments||||216,835|312,830|
|Bank Loan|||||850 0110|
|||||1 002 097|~204 267|
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|Fee deposits and advance payments|||||||1,434,368|1,324,377|
|---|---|---|---|---|---|---|---|---|
|Bankloan||||||||737500|
||||||||1404300|~001077|
|Analysis ofLoans|||||||||
|Not wholly repayable
within five years|by instalments:||||||||
|Wholly repayable
within five years:||||||||1,587,500|
|Included
in current
liabilties||||||||1,587,500
~850,000|
|||||||||737,500|
|Instalments
not due within five years|||||||||
|Loan maturity
analysis|||||||||
|In more than one year but not more than two years||||||||475,000|
|In more than two years but not more than||five years||||||262,500|
|In mors than five years|||||||||
|The loan facility was secured by a first legal charge over the freehold land and buildings|||||at Ibstock Place School.||||
|The School has repaid the outstanding|loans duing the financial year using excess cash||||funds,||||
|MOVEMENT
IN FUNDS||Fund|||||||
||balances at||||||||
|||1August|Incoming|Resources|||Gains/|Fund balances|
|||2021|resources|expended||Transfers|(Losses)|at 31July 2022|
|||E||E|||F||
|Resbfcted Funds|||||||||
|Bayliss Fund||2,867||||||2,867|
|Total restricted funds||2 807||||||2 067|
|Unrestricted
Funds|||||||||
|Designated
-Pension
liability reserve||(4,960,000)||590,000|||4,885,000|(665,000)|
|Designated&GPS
Pension fluctuation||||||4,885,000||4,885,000|
|reserve|||||||||
|Designated-Building
development||||||2,000,000||2,000,000|
|Designated-Bursary
fund||||||145,641||145,641|
|General Fund||40315264|20 930022|17782040||~7030641||4443S M5|
|Total unrestricted
funds||43355204|20936022|10372640|||4 805 000|50 003 046|
|Total funds||43358 131|20 936022|10372640|||4 085 000|50000513|
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|a)|Principal Actuarial|Assumptions|Assumptions|||||||
|---|---|---|---|---|---|---|---|---|---|
||||||||At|31July|At 31 July|
|||||||||2022|2021|
||Rate of increase
In salaries|||||||3.75%|3.80%|
||Rate ofincrease for|pensions|in payment/inflation|||||2.75%|2.80%|
||Discount rate for scheme liabilities|||||||340%|1.60%|
||Inflation assumption|(CPI)||||||1.75%|2.80%|
||Retafl Prices Index assumption||(RPI)|||||2.75%|3.15%|
||Expected return
on|scheme assets||at 31 July||||||
||The current
mortality|assumptions||include sufficient allowance||for future improvements|in mortality rates.|||
||The assumed
life expectations||on|retirement|age 65are:|||||
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|e)|Amounts
recognised
in the Balance Sheet|Amounts
recognised
in the Balance Sheet||||||
|---|---|---|---|---|---|---|---|
|||||||At 31July|At 31 July|
|||||||2022|2021|
|||||||8||
||Present value ofthe defined
benefit obligation|||||(8,868,000)|(12,217,000)|
||Fair value of Fund assets (bid value)|||||8203000|7257000|
||(Deficit)/Surplus|||||665000|4,960,000|
||Net defined benefit (liability)/asset|||||685000|4,960000|
|f)|Changes
in the present value ofthe defined||benefit obligation||were as follows:|||
|||||||At 31July|At 31 July|
|||||||2022|2021|
|||||||R||
||Opening
defined benefit obligation|||||(12,217,000)|(10,990,000)|
||Service cost|||||(912,000)|(830,000)|
||Interest cost|||||(195,000)|(148,000)|
||Employee
contributions|||||(129,000)|(112,000)|
||Experience (loss)/gain
on defined benefit obligation|||||(30,000)|200,000|
||Change
in financial assumptions|||||4,435,000|(676,000)|
||Change
in demographic
assumptions||||||141,000|
||Past service costs, including
curtailments|||||||
||Benefits paid net oftransfers
in|||||180000|198 000|
||Defined benefit obligation at end ofyear|||||8868 OOO|12217000|
|g)|Changes
in the fair value ofthe scheme assets|||were as follows:||||
|||||||At 31July|At 31 July|
|||||||2022|2021|
|||||||R||
||Opening
fair value ofscheme assets|||||7,257,000|6,214,000|
||Interest on assets|||||119,000|86,000|
||Return on Assets less interest|||||480,000|661,000|
||Other actuarial
gains
/ (losses)|||||||
||Administration
expenses|||||(9,000)|(8,000)|
||Employer contributions|||||407,000|390,000|
||Employee
contributions
Benefits paid plus unfunded
net oftransfers|in||||129,000
~180M0|112,000
198000|
||Closing fair value offund assets|||||8 03000|7 25? 000|
|h)|Sensitivity analysis:|||||||
||The sensitivity
regarding
the principal assumptions|||used to measure|the scheme liabilities are set out below.|||
||Change
in assumptions
as at 31 July 2022:|||||||
||||||ROOOs|tooos|aooos|
||Adjustment
to discount rate||||&1%|0,0%|-0.1%|
||Present value oftotal obligation||||8,687|8,868|9,053|
||Projected service cost||||467|483|500|
||Adjustment
to long term salary increase|||||0.0'Yo|-0.1'Ya|
||Present value oftotal obligation||||8,886|8,868|8,850|
||Projected service cost||||483|483|483|
||Adjustment
to pension increases
and deferred||revaluation||+01%|0.0'Yo|-0.1%|
||Present value oftotal obligation||||9,036|8,868|8,704|
||Projected service cost||||500|483|467|
||Adjustment
to life expectancy assumptions||||+1year|None|- 1 year|
||Present value oftotal obligation||||9,182|8,868|8,565|
||Projected service cost||||502|483|465|
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