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2020-08-31-accounts

Charity Registration No. 1153166

Company Registration No. 08155547 (England and Wales)

DANIA SCHOOL LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

DANIA SCHOOL LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr A H Kahn Mr P K Melbye Mr C J H Seidenfaden Ms E Bridges (Appointed 15 October 2019)

Governors Anne Marie Hathcock (parent governor) Børge Andreassen (governor) Jeanette Steinbeck (governor) Nana Meulengracht Larsen (parent governor) Dr Trevor Richards (governor) Charity number 1153166 Company number 08155547 Registered office St David Westbourne Road London N7 8AB Independent examiner Bridget Culverwell First Floor 73-75 High Street Stevenage Hertfordshire SG1 3HR Bankers Barclays Bank 403 Holloway Road London N7 6HL

DANIA SCHOOL LIMITED

CONTENTS

Page
Trustees' report 1 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 18

DANIA SCHOOL LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2020

The trustees present their report and financial statements for the year ended 31 August 2020.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association , the Companies Act 2006 and "Accounting and Reporting by Charities: 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) (effective 1 January 2019)".

The trustees confirm that the Charity Commission's general guidance on public benefit has been considered in relation to the objectives of the Charity to advance education. The report sets out these aims and objectives and describes how they have been met in the current year.

Objectives and activities

Our Aims

The objectives of the School are the advancement of education (including social and physical) of boys and girls in a multicultural environment with a Scandinavian focus, and in particular to maintain a day school in Islington, London.

We aim to provide a first class education to boys and girls from the ages of 2 -11. We seek to provide an educational environment that develops our pupils’ capabilities, competencies and skills. We aim to promote in particular multilingual and multicultural education. We promote the academic, moral and physical development of our pupils through our academic curriculum, pastoral care, sporting and other activities. We provide an educational environment where each student can develop and fulfil their potential, building their selfconfidence and inculcating a desire to contribute to the wider community. In so doing, we prepare our pupils for the opportunities, responsibilities and experience of later life.

Our Objectives

Our objectives are set to reflect our educational aims and the ethos of the School. It is important to us that we maintain and enhance the academic success of the School. This objective is, however, set in the context of the broader goals we set for the School and its pupils.

In setting our objectives and planning our activities our Governors have given careful consideration to the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education and on fee-charging. Our key objectives for the period included:

DANIA SCHOOL LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Our Ethos, Strategy and Policies

Our Governors are responsible for setting a strategy for achieving the objectives they have set. The focus of our strategy is on the development of our pupils, their continued high levels of academic and co-curricular achievement and to further widen access to the education our School provides. In taking forward our strategy we:

Our Ethos: A Caring School Serving Our Local Community and Society

Dania School is a registered charity which seeks to benefit the public through the pursuit of its stated aims. Our fees are set at a level to ensure the financial viability of the School and at a level that is consistent with our aim of providing a first class education to boys and girls.

Our School welcomes pupils from all backgrounds. Both British and Scandinavian children will benefit from the School’s multicultural approach. To admit a prospective pupil we need to be satisfied that our School will be able to educate and develop the prospective pupil to the best of their potential and in line with the general standards achieved by their peers. An individual’s economic status, gender, ethnicity, race, religion or disability do not form part of our assessment processes.

We are an equal opportunity organisation and are committed to a working environment that is free from any form of discrimination on the grounds of colour, race, ethnicity, religion, sex, sexual orientation or disability. We will make reasonable adjustments to meet the needs of staff or pupils who are or become disabled.

Our School is committed to safeguarding and promoting the welfare of our pupils and expects all staff and volunteers to share this commitment. Parents are given regular information about their children’s social and academic progress through parent evenings in addition to the traditional end of term and year reports. We maintain regular contact with parents throughout the year through informal contacts and through our newsletter. We have vigorous safeguarding procedures in place, and we work closely with Islington Council to secure new regulations are immediately integrated into our policies and staff training.

Access Policy

It is important to us that access to the education we offer is not restricted to those who can afford our fees. We believe our pupils benefit from learning within a diverse community. A great deal of learning occurs through social interaction, conversation and shared experiences which helps our pupils develop an understanding of the perspectives of other people that will be vital in their adult lives. Our bursary policy contributes to a widening of access to the education we offer and the facilities we enjoy. Our policy states 10% of any surplus must fund bursaries. In years of no financial surplus we aim for 10% of the cohort to receive some kind of financial support through bursaries.

DANIA SCHOOL LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Bursary Policy

The Governors view our bursary awards as important in helping to ensure children from families who would otherwise not be able to afford the fees can access the education we offer. Our bursary awards are available to all who meet our general entry requirements and are made solely on the basis of parental means or to relieve hardship where a pupil’s education and future prospects would otherwise be at risk - for example in the case of redundancy. In assessing means we take a number of factors into consideration including family income, investments and savings and family circumstances for example dependant relatives and the number of siblings. However, our School does not yet have an endowment and in funding our awards we have to be mindful that we must ensure a balance between fee-paying parents, many of whom make considerable personal sacrifices to fund their child’s education, and those benefiting from the awards.

The bursary awards range from 25-50% remission of fees. Information about fee assistance through bursaries is provided to all applying to the School. The success of our bursary scheme is explained in our review of the activities and achievements section of this report. Details of bursary awards are also set out in the accounts.

Fundraising Standards

Our fundraising activities were severely curtailed during the 2019/2020 due to the pandemic. Fundraising activity is normally focused around our Spring Fayre and parents donating their £1,000 when their children leave the school. Both tend to happen in the period April through June every year, a period that was dominated by lockdown during the 2019/2020 school year. Nevertheless, we did receive some modest unsolicited donations from parents during the lockdown to contribute towards the running costs of the school.

In all matters related to fundraising and donations, Dania abides by the Code of Fundraising Practice published by the Institute of Fundraising.

Achievements and performance

Review of the Activities and Achievements

Dania School opened on 1 September 2013 and welcomed its first pupils at the start of the academic year on 11 September 2013. Pupil numbers were 34 at the term-end of August 2020. Our fees for the current year before the deduction of any means assisted bursaries were:

DANIA SCHOOL LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Details of Bursary and Scholarship Awards – Policy into Practice

Bursaries

Means tested bursaries have been awarded to children attending Dania as at 1 September 2019. During the academic year to 31 August 2020 three bursaries were awarded. The value of means tested bursaries totalled £14,129 and represented between 40% and 50% of gross fees depending on the bursary arrangement for the individual child. They provided assistance to three of our pupils.

Review

The Governors review our Bursary and Scholarship Awards policies annually to ensure that able children can accept offers of places at our School through the availability of means tested fee assistance. Our policy is designed to widen access to our School. We anticipate this review will help inform the development of our policy and help ensure the objective of wider access continues to be achieved.

Community Service

The School’s After-School-Club is open to the wider community and attracts children from other schools. Additionally we have regular events open to the wider community such as a Summer Camp, Summer Party, Spring Fayre and Sports Day.

Financial review

Our Finances

The financial statements show a net deficit for the period on School activities of £ 4,569 (201 9 : surplus of £ 68,423 ). Fee income is the principal source of income contributing £3 18,038 (201 9 : £ 358,718 ).

Total funds at the year end show a net surplus of £ 39,466 (201 9: surplus £ 44,035 ). We recovered student numbers during the 2017/2018 school year and further progress has been made since then. T otal funds are on track to grow over the coming years through an increase in pupil numbers.

As a charity the parents of our pupils have the assurance that all the income of the School must be applied for educational purposes. As an educational charity we enjoy tax exemption on our educational activities and on our investment income and gains provided these are applied for our charitable aims. As a charity we are also entitled to an 80% reduction on our business rates on the property we occupy for our charitable purposes. The financial benefits we receive from these tax exemptions are all applied for educational purposes and indirectly help us to maintain our bursary policies.

However, as an educational charity, we are unable to reclaim VAT input tax on our costs as we are exempt for VAT purposes. We also pay tax as an employer through the national insurance contributions we make. In addition to the very substantial benefits our School brings to our pupils, the local community and society through the education we offer, our bursary programme creates a social asset without cost to the Exchequer.

Reserves and Financial Health

The Governors regularly review the finances, budgets and spend against budget together with a monthly cash flow analysis as part of the effective stewardship of the School. R eserves at the year end , excluding those tied up in fixed assets, stood at £ 24,928 (20 19 : surplus of £ 39,489 ). The ongoing financial strength of the business will be dependent on increasing pupil numbers post-pandemic.

DANIA SCHOOL LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Risk Management

The Governors are responsible for the overseeing of the risks faced by the School. Detailed considerations of risks are delegated to the Senior Management of the School. Risks are identified, assessed and controls established throughout the year. A formal review of the charity’s risk management processes is undertaken on an annual basis. Risk is managed under the headings of financial sustainability, school safety, student welfare, employment, school trips and events and community access. Through the risk management processes established for the School, the Governors are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

Future Plans

Dania's main growth priority is the addition of new pupils in order to bring the school to a position of financial strength. However, the ongoing pandemic has limited our ability to enrol new pupils and we are not working to any specific targets until restrictions related to the pandemic have been lifted. In order to generate an operating surplus our general goal is to exceed 32 children.

The Governors intend to continue their current strategies of maintaining the School’s position in a competitive market by investing to provide high quality education for our pupils. Achieving a high standard of academic results is a constant aim whilst maintaining the breadth and depth of the education provided. The Headteacher and senior staff continue to review the curriculum to ensure that the educational qualifications remain appropriate for our pupils’ development.

Structure, governance and management

The charity is a company limited by guarantee governed by its Memorandum and Articles of Association .

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr A H Kahn Mr P K Melbye Mr C J H Seidenfaden Ms M J H Steinbeck Ms E Bridges

(Resigned 15 October 2019) (Appointed 15 October 2019)

DANIA SCHOOL LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Governor Recruitment and Training

The Governing body requires breadth and depth of experience to carry out its duties effectively and efficiently. When recruiting new T rustees and Governors the important attribute is a passion for the work of our School and an understanding of education as a holistic and rounded experience of personal growth. We advertise locally and through our connections for new Governors. We also invite senior Anglo-Scandinavian business people to consider joining our board. Where possible the Governors consider that the skills and experience of the Board should comprise the following:

The results for the year and the financial position at the year-end were considered satisfactory by the trustees.

The Governors, amongst whom four are also the charity trustees, are responsible for the overall management and control of Dania School Limited and meet a minimum of eight times a year. The Governors work under the chairmanship of Peter Melbye, Trustee and Chair of the Board. Emily Bridges is responsible for overseeing the financial management of the school.

All trustees give of their time freely and no remuneration or expenses were paid in the period. Nana Meulengracht Larsen, who is a parent governor, benefits from a means tested bursary that was in place before she was elected by parents as their representative. Aside from this, no Governor or person connected with a Governor received any benefit from either means tested bursaries or scholarships awarded to our pupils.

Organisational Management

The Governors determine the general policy of the School. The day to day running of the School is delegated to the Head, supported by senior staff. The Headmaster undertakes the key leadership role overseeing educational, pastoral and administrative functions in consultation with the senior staff.

The day to day administration of the School is undertaken within the policies and procedures approved by the Governors, which provide for only significant expenditure decisions and major capital projects to be referred to the Governors for prior approval.

The Headteacher oversees the recruitment of all educational staff, administrative and non-teaching support staff. The Head is invited to attend Governors’ meetings.

The trustees' r eport was approved by the Board of Trustees.

.............................. Mr P K Melbye

Dated: .........................

DANIA SCHOOL LIMITED

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DANIA SCHOOL LIMITED

I report to the trustees on my examination of the financial statements of Dania School Limited (the charity) for the year ended 31 August 2020.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Bridget Culverwell Independent Examiner First Floor 73-75 High Street Stevenage Hertfordshire SG1 3HR

Dated: .........................

DANIA SCHOOL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2020

Unrestricted Unrestricted
funds funds
2020 2019
Notes
£		 £
Income and endowments from:
Donations and legacies 2 4,903 -
Charitable activities 3 356,537 399,160
Other income 4 10,199 (50)
Total income 371,639 399,110
Expenditure on:
Charitable activities
Education costs 5 245,354 225,254
Premises costs 5 86,304 71,118
Admin costs 5 44,550 34,315
Total charitable expenditure 376,208 330,687
Net (expenditure)/income for the year/
Net movement in funds (4,569)
68,423
Fund balances at 1 September 2019 44,035 (24,388)
Fund balances at 31 August 2020 39,466 44,035

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

DANIA SCHOOL LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2020

2020
Notes
£
Fixed assets
Tangible assets
9
Current assets
Debtors
10
47,809
Cash at bank and in hand
77,248
125,057
Creditors: amounts falling due within
one year
12
(100,129)
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds		 £
14,538
24,928
39,466
39,466
39,466		 2019
£
35,888
98,588
134,476
(94,987)		 £
4,546
39,489
44,035
44,035
44,035

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2020.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on .........................

.............................. Mr P K Melbye Trustee

Company Registration No. 08155547

DANIA SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

1 Accounting policies

Charity information

Dania School Limited is a private company limited by guarantee incorporated in England & Wales, company number 08155547. The registered office is St David, Westbourne Road, London, N7 8AB.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: 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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

The trustees have considered the impact of the Covid-19 pandemic on the charity and do not believe there to be any change in the going concern status of the charity.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. There were no restricted funds in the period.

1.4 Income

Income , including government grants, is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5 Expenditure

Expenditure, including staff costs, is included in the accounts on an accruals basis and has been classified under headings that aggregate all costs relating to that category. The irrecoverable VAT is included with the item of expenditure to which it relates.

When expenditure cannot be directly attributed to specific activities, it is apportioned on the basis of the estimated time spent by staff on those activities.

DANIA SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 20% on cost Computer equipment 20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

DANIA SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

1.13 Fundraising Standards

In all matters related to fundraising and donations, Dania School Limited abides by the Code of Fundraising Practice published by the Institute of Fundraising.

2 Donations and legacies

Unrestricted Total
funds
2020 2019
£ £
Donations and gifts 4,903 -

DANIA SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

3
Charitable activities
Fee income
After school and holiday clubs		 2020
£
318,038
38,499
356,537		 2019
£
358,718
40,442
399,160

4 Other income

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Furlough income 10,199 -
Other income - (50)
10,199 (50)

DANIA SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

5 Charitable activities

Education
costs
Premises
costs
2020
2020
£
£
Staff costs
222,788
-
Depreciation and impairment
4,644
-
Books and consumables
8,614
-
School meals
4,701
-
School trips
1,376
-
Staff welfare
3,231
-
Rent
-
76,141
Cleaning
-
10,163
Repairs and maintenance
-
-
Advertising
-
-
Subscriptions
-
-
Travelling
-
-
Printing and stationery
-
-
Telephone and fax
-
-
Computer and software
-
-
Insurance
-
-
Courses/training
-
-
Sundry expenses
-
-
Bank charges
-
-
Entertaining
-
-
Bad debts written off
-
-
245,354
86,304
Share of governance costs (see note 6)
-
-
245,354
86,304		 Admin
costs
2020
£
-
-
-
-
-
-
-
-
-
5,423
8,339
249
1,710
2,047
1,856
1,352
1,779
235
1,859
2,902
-
27,751
16,799
44,550		 Total
2020
Education
costs
Premises
costs
2019
2019
£
£
£
222,788
201,431
-
4,644
1,892
-
8,614
4,734
-
4,701
7,878
-
1,376
3,933
-
3,231
5,386
-
76,141
-
60,819
10,163
-
10,166
-
-
133
5,423
-
-
8,339
-
-
249
-
-
1,710
-
-
2,047
-
-
1,856
-
-
1,352
-
-
1,779
-
-
235
-
-
1,859
-
-
2,902
-
-
-
-
-
359,409
225,254
71,118
16,799
-
-
376,208
225,254
71,118		 Admin
costs
2019
£
-
-
-
-
-
-
-
-
-
3,010
4,457
(1,221)
1,674
1,447
3,494
1,229
1,534
226
1,907
515
8,162
26,434
7,881
34,315		 Total
2019
£
201,431
1,892
4,734
7,878
3,933
5,386
60,819
10,166
133
3,010
4,457
(1,221)
1,674
1,447
3,494
1,229
1,534
226
1,907
515
515
322,806
7,881
330,687

DANIA SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

6 Support and governance costs

Support
costs
Governance
costs
£
£
Legal and professional
-
4,901
Independent examiner fee
-
1,229
Accountancy fees
-
10,669
-
16,799
Allocated to:
Charitable activities
-
16,799		 2020
£
4,901
1,229
10,669
16,799
16,799		 Support
costs
Governance
costs
£
£
-
1,001
-
1,150
-
5,730
-
7,881
-
7,881		 2019
£
1,001
1,150
5,730
7,881
7,881

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration , reimbursement of expenses or benefits from the charity during the year.

8 Employees

The average monthly number of employees during the year was:

Teaching and support staff
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2020
Number
11
2020
£
210,285
9,229
3,274
222,788		 2019
Number
10
2019
£
187,261
11,500
2,670
201,431

There were no employees whose annual remuneration was £60,000 or more.

DANIA SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

9
Tangible fixed assets
Fixtures and
fittings
Computer
equipment
£
£
Cost
At 1 September 2019
18,750
6,708
Additions
-
14,636
At 31 August 2020
18,750
21,344
Depreciation and impairment
At 1 September 2019
14,374
6,538
Depreciation charged in the year
1,550
3,094
At 31 August 2020
15,924
9,632
Carrying amount
At 31 August 2020
2,826
11,712
At 31 August 2019
4,376
170
10
Debtors
2020
Amounts falling due within one year:
£
Trade debtors
21,843
Other debtors
23,923
Prepayments and accrued income
2,043
47,809
11
Loans and overdrafts
2020
£
Directors' loans
11,183
Payable within one year
11,183
Directors' loans are interest free and repayable on demand.		 Total
£
25,458
14,636
40,094
20,912
4,644
25,556
14,538
4,546
2019
£
11,001
22,938
1,949
35,888
2019
£
11,183
11,183

DANIA SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

12 Creditors: amounts falling due within one year

Borrowings
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2020
£
11,183
16,620
37,717
33,003
1,606
100,129		 2019
£
11,183
4,545
29,566
48,165
1,528
94,987

13 Government grants

Included within Summer school, after school and grant income is the London Borough Council of Islington National Education Grant of £32,302 (2019: £23,641) which was wholly utilised in the period. Furlough income received from the UK Government of £10,199 is included in other income.

14 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted Unrestricted
funds funds
2020 2019
£ £
Fund balances at 31 August 2020 are represented by:
Tangible assets 14,538 4,546
Current assets/(liabilities) 24,928 39,489
39,466 44,035

15 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2020
£
63,480
-
63,480		 2019
£
54,000
54,000
108,000

DANIA SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

16 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel was as follows.

2020 2019
£ £
Aggregate compensation 42,161 39,404

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

Re:accounts Limited is related to the charity as it is controlled by Ms E Bridges, who served as a governor during the year. The total amount charged by Re:accounts Limited during the year for accountancy services provided to the charity was £10,669 inclusive of irrecoverable VAT.