2022-08-31-accounts - The Sheiling Special Education Trust

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		Page
Report ofthe Trustees	1	to	11
Report ofthe Independent Auditors	12	to	14
Statement ofFinancial Activities		15
Balance Sheet		16
Cash Flosv Statement		17
Notes to the Cash Flow Statement		18
Notes to the Financial Statements	19	to	29
Detailed Statement ofFinancial Activities		30

		for t	he Year E	nded 31August	2022
						2022	2021
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
			Notes				f
INCOME AND ENDOWMENTS		FROM
Donations and legacies			3	31,006	46,825	77,831	67,484
Other trading activities			4	8,809,447		8,809,447	8,550,783
Investment income			5	19,234		19,234	22,836
Other income				1,243		1,243
Total				8,860,930	46,825	8,907,755	8,641,103
EXPENDITURE ON
Charitable activities			6
Education				7,752,409		7,752,409	7,218,275
NET INCOME				1,108,521	46,825	1,155,346	1,422,828
Transfers between funds			19	455,006	(455,006)
Net movement in funds				1,563,527	(408,181)	1,155,346	1,422,828
RECONCILIATION	OF FUNDS
Total funds brought	forward			10,241,044	408,181	10,649,225	9,226,397
TOTAL FUNDS CARRIED FORWARD				11,804,571		11,804,571	10,649,225

				2022	2021
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes
FIXEDASSETS
Tangible assets	12	6,780,169		6,780,169	6,542,285
CURRENT ASSETS
Debtors	13	2,657,592		2,657,592	3,534,558
Cash at bank and in hand		5,337,945		5,337,945	3,772,010
		7,995,537		7,995,537	7,306,568
CREDITORS
Amounts falling due within one year	14	(2,971,135)		(2,971,135)	(3,143,342)
NKT CURRENT ASSETS		5,024,402		5,024,402	4,163,226
TOTAL ASSETSLESSCURRENT
LIABILITIES		11,804,571		11,804,571	10,705,511
CREDITORS
Amounts falling due after more than one year	15				(56,286)
NET ASSETS		11,804,571		11,804,571	10,649,225
FUNDS	19
Unrestricted funds				11,804,571	10,241,044
Restricted funds					408,181
TOTAL FUNDS				11,804,571	10,649,225

					Cash Flow Statement
				for the	Year Ended 31 August	2022
						2022	2021
				Notes
Cash tloivs from	operating		activities
Cash generated from operations						2,036,194	1,042,812
Interest paid						(159)	(2,562)
Net cash provided	by operating activities					2,036,035	1,040,250
Cash lloivs from	investing		activities
Purchase oftangible fixed assets						(406,130)	(173,712)
Sale oftangible fixed assets						1,600
Interest received						2,346	190
Net cash used in	investing	activities				(402,184)	(173,522)
Cash floivs from	financing		activities
Loan repayments	in year					(67,916)	(11,229)
Net cash used in	financing		activities			(67,916)	(11,229)
Change in cash	and cash	equivalents		in
the reporting period						1,565,935	855,499
Cash and cash equivalents			at the
beginning ofthe	reporting		period			3,772,010	2,916,511
Cash and cash equivalents			at the end	of
the reporting period						5,337,945	3,772,010


RECONCILIATION		OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
				2022	2021
Net income for the	reporting		period (as per the Statement of
Financial Activities)				1,155,346	1,422,828
Adjustments for:
Depreciation charges				167,889	157,503
Profit on disposal offixed assets				(1,243)
Interest received				(2,346)	(190)
Interest paid				159	2,562
Decrease/(increase)	in	debtors		876,966	(1,025,948)
(Decrease)/increase	in	creditors		(160,577)	486,057
Net cash provided by		operations		2,036,194	1,042,812

		At 1.9.21	Cash flow	At 31.8.22
Net cash
Cash at bank and in hand		3,772,010	1,565,935	5,337,945
		3,772,010	],565,935	5,337,945
Debt
Debts falling due within	I year	(11,631)	11,631
Debts falling due after I	year	(56,286)	56,286
		(67,917)	67,917
Total		3,704,093	1,633,852	5,337,945

Tangible	fixed assets
Freehold	property	Straight	line over	50 years
Assets under construction		Straight	line over	50 years
Plant and	machinery	20% on	reducing	balance
Fixtures	and fittings	20% on	reducing	balance
Motor vehicles		25% on	reducing	balance
Computer	equipment	33%on	cost

DONATIONS AND LEGACIES
	2022	2021
Donations	26,256	3,685
Grants	51,575	63,799
	77,831	67,484

					2022	2021
	EFA capital	grant			31,825	33,799
	Talbot Village Tnrst				15,000
	The Edward	Gostling Foundation				5,000
	Wooden Spoon Society					25,000
	SEND Partnership				2,500
	Nineveh Trust				2,000
	The Sheiling	Ringwood	College		250
					51,575	63,799
4.	OTHER TRADING ACTIVITIES
					2022	2021
						f,
	Fundraising	events			1,010	78
	Fees				8,741,504	8,290, 135
	Camps and Other	respite			66,933	194,211 66,359
					8,809,447	8,550,783
5.	INVESTMENT INCOME
					2022	2021
	Rents received				16,888	22,646
	Deposit account interest				2,346	190
					19,234	22,836
6.	CHARITABLE ACTIVITIES COSTS
					Suppots
				Direct	costs (see
				Costs	note 7)	Totals
	Education			7,613,665	138,744	7,752,409

SUPPORT COSTS
			Goventance
			costs
Education			138,744
NET INCOME/(EXPENDITURE)
Net income/(expenditure)	is stated aller charging/(crediting):
		2022	2021
Depreciation —owned assets		167,889	157,503
Surplus on disposal offixed assets		(1,243)
Auditors remuneration	for audit services	7,750	7,300

STAF	F COSTS
		2022	2021
Wages	and salaries	5,793,200	5,358,860
Social	security costs	465,837	387,258
Other	pension costs	353,588	329,660
		6,612,625	6,075,778

2022	2021
239	256

The num	b	er ofemployees whose employee benefits	(excluding employer pension costs) exceeded	f60000 w
			2022	2021
f60,001	-	f70,000	3
f80,001	-	890,000	I

11.	COMPARATIVKS FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVKS FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVKS FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVKS FOR THE STATEMENT OF FINANCIAL ACTIVITIES
				Unrestricted	Restricted	Total
				funds	funds	funds
	INCOME AND ENDOWMENTS		FROM
	Donations and legacies			3,685	63,799	67,484
	Other trading activities			8,550,783		8,550,783
	lnvesnnent income			22,836		22,836
	Total			8,577,304	63,799	8,641,103
	EXPENDITURE ON
	Charitable activities
	Education			7,172,202	46,073	7,218,275
	NET INCOME			1,405, 102	17,726	1,422,828
	RECONCILIATION	OF FUNDS
	Total funds brought	forward		8,835,942	390,455	9,226,397
	TOTAL FUNDS CARRIED FORWARD			10,241,044	408,181	10,649,225
12.	TANGIBLE FIXED	ASSETS
					Assets
				Freehold	under	Plant and
				property	construction	machinery
				6
	COST
	At I September 2021			6,386,072	57,927	22,932
	Additions				196,016	5,994
	Disposals
	Transfer to ownership				(253,943)
	At 31 August 2022			6,386,072		28,926
	DEPRECIATION
	At I September 2021			315,379		14,416
	Charge for year			46,060		2,702
	Eliminated on disposal
	At 31 August 2022			361,439		17,118
	NKT BOOK VALUE
	At 31 August 2022			6,024,633		11,808
	At 31 August 2021			6,070,693	57,927	8,516

12.	TANGIBLE FIXED	A	SSETS- continued
			Fixtures
			and	Motor	Computer
			fittings	vehicles	equipment	Totals
					8
	COST
	At I September 2021		858,069	98,517	486,109	7,909,626
	Additions		176,207	4,894	23,019	406,130
	Disposals Transfer to ownership		253,943	(3,060)		(3,060)
	At 31 August 2022		1,288,219	100,351	509,128	8,312,696
	DEPRECIATION
	At I September 2021		478,250	80,717	478,579	1,367,341
	Charge for year		104,333	5,461	9,333	167,889
	Eluninated on disposal			(2,703)		(2,703)
	At 31 August 2022		582,583	83,475	487,912	1,532,527
	NET BOOK VALUE
	At 31 August 2022		705,636	16,876	21,216	6,780,169
	At 31 August 2021		379,819	17,800	7,530	6,542,285
13.	DEBTORS:AMOUNTS		FALLING DUE WITHIN ONE YEAR
					2022	2021
	Trade debtors				2,510,471	3,386,737
	Other debtors				33,133	32,205
	Prepayments and accrued		income		113,988	115,616
					2,657,592	3,534,558
14.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
					2022	2021
	Bank loans and overdratts		(see note 16)			11,631
	Trade creditors				148,025	432,465
	Social security and other		taxes		104,213	83,120
	Other creditors				77,041	68,873
	Accruals and deferred	income			2,641,856	2,547,253
					2,971,135	3,]43,342

				2022	2021
Bank loans	(see note 16)				56,286
LOANS
An analysis	ofthe maturity		ofloans is given below:
				2022	2021
				f,
Amounts falling due within			one year on demand:
Bank loans					11,631
Amounts falling between		one and two years:
Bank loans	- 1-2 yems				12,044
Amounts falling due between two and five years:
Bank loans	—2-5 years				44,242

	2022	2021
Within one year	17,411	27,769
Between one and five years	31,327	10,331
	48,738	38,100

MOVEMEN	T IN FUN	DS
				Net	Transfers
				movement	between	At
			At 1.9.21	in funds	funds	31.8.22
Unrestricted	funds
General fund			9,741,044	1,108,521	955,006	11,804,571
COVID-19 reponse			500,000		(500,000)
			10,241,044	1,108,521	455,006	11,804,571
Restricted funds
ESFA capital	funding		174,416	31,825	(206,241)
College double classroom			202,286		(202,286)
Other capital	projects		31,479		(31,479)
Sensory Garden				15,000	(15,000)
			408,181	46,825	(455,006)
TOTAL FUNDS			10,649,225	1,155,346		11,804,571
Net movement	in funds,	included	in the above are as follows:
				Incoming	Resources	Movement
				resources	expended	in funds
						f,
Unrestricted	funds
General fund				8,860,930	(7,752,409)	1,108,521
Restricted funds
ESFA capital	funding			31,825		31,825
Sensory Garden				15,000		15,000
				46,825		46,825
TOTAL FUNDS				8,907,755	(7,752,409)	1,155,346

				Net
				movement	At
			At 1.9.20	in funds	31.8.21
Unrestricted	funds
General fund			8,335,942	1,405, 102	9,741,044
COVID-19 reponse			500,000		500,000
			8,835,942	1,405,102	10,241,044
Restricted funds
ESFA capital	funding		141,045	33,371	174,416
College double classroom			204,386	(2,100)	202,286
Other capital	projects		38,024	(6,545)	31,479
Sensory Garden			7,000	(7,000)
			390,455	17,726	408,181
TOTAL FUNDS			9,226,397	1,422,828	10,649,225
Comparative	net movement	in funds, included	in the above are as follows:
			Incoming	Resources	Movement
			resources	expended	in funds
Unrestricted	funds
General fund			8,577,304	(7, 172,202)	1,405, 102
Restricted funds
ESFA capital	funding		33,799	(428)	33,371
College double classroom				(2,100)	(2,100)
Other capital	projects			(6,545)	(6,545)
Sensory Garden			30,000	(37,000)	(7,000)
			63,799	(46,073)	17,726
TOTAL FUNDS			8,641,103	(7,218,275)	1,422,828

				Net	Transfers
				movement	between	At
			At 1.9.20	in funds	funds	31.8.22
Unrestricted		funds
General	fund		8,335,942	2,513,623	955,006	11,804,571
COVID-19 reponse			500,000		(500,000)
			8,835,942	2,513,623	455,006	11,804,571
Restricted funds
ESFA capital		funding	141,045	65,196	(206,241)
College	double classroom		204,386	(2,100)	(202,286)
Other capital		projects	38,024	(6,545)	(31,479)
Sensory	Garden		7,000	8,000	(15,000)
			390,455	64,551	(455,006)
TOTAL	FUNDS		9,226,397	2,578,174		11,804,571

	Incoming	Resources	Movement
	resources	expended	in funds
		f.
Unrestricted funds
General fund	17,438,234	(14,924,611)	2,513,623
Restricted funds
ESFA capital funding	65,624	(428)	65,196
College double classroom		(2,100)	(2,100)
Other capital projects		(6,545)	(6,545)
Sensory Garden	45,000	(37,000)	8,000
	110,624	(46,073)	64,551
TOTAL FUNDS	17,548,858	(14,970,684)	2,578,174
Restricted funds

			for the Year Ended 3	1August 2022
				2022	2021
INCOME AND ENDOWMENTS
Donations and	legacies
Donations				26,256	3,685
Grants				51,575	63,799
				77,831	67,484
Other trading	activities
Fundraising events				1,010	78
Fees				8,741,504	8,290,135
Camps and respite					194,211
Other				66,933	66,359
				8,809,447	8,550,783
Investment income
Rents received				16,888	22,646
Deposit account interest				2,346	190
				19,234	22,836
Other income
Gain on sale oftangible			fixed assets	1,243
Total incomiug	resources			8,907,755	8,641,103
EXPENDITURE
Charitable activities
Wages				5,793,200	5,358,860
Social security				465,837	387,258
Pensions				353,588	329,660
Advertising				7,231	4,972
Sundries				21,923	37,760
Teaching materials		and equipment		140,294	130,514
Utilities and runnhig		costs		663,544	747,762
Depreciation oftangible			fixed assets	167,889	157,503
Bank loan interest				159	2,562
				7,613,665	7,156,851
Support costs
Governance	costs
Accountancy	and	legal	fees	138,744	61,424
Total resources	expended			7,752,409	7,218,275
Net income				1,155,346	1,422,828