2021-08-31-accounts

	Page
Referenceandadministrativedetailsofthecharity,itsGovernorsandadvisers	1
Governors'reportincludingdirectors'reportandstrategicreport)	2-11
Independentauditors'reportonthefinancialstatements	12-15
Statementoffinancialactivities	16
Balancesheet	17-18
Statementofcashflows	19
Notestothefinancialstatements	20-41

					Asrestated
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2021	2021	2021	2020
	Note	£	£	£	£
Incomefrom:
Donationsandlegacies	4	20	-	20	6,686
Charitableactivities	5	1,443,307	-	1,443,307	1,583,736
Investments	6	765	-	765	1,257
Otherincome	7	216,502	-	216,502	271,797
Totalincome		1,660,594	-	1,660,594	1,863,476
Expenditureon:
Charitableactivities	8	2,327,551	-	2,327,551	2,064,930
Totalexpenditure		2,327,551	-	2,327,551	2,064,930
Netexpenditurebeforenetlosseson
investments		{666,957)	-	(666,957)	{201,454)
Netlossesoninvestments		-	-	-	(8,002)
Netexpenditure		(666,957}	-	{666,957)	(209,456)
Transfersbetweenfunds	17	10,734	{10,734)	-	-
Netmovementinfundsbeforeother
recognisedgains		(656,223)	(10,734)	{666,957}	(209,456)
Otherrecognisedgains:
Gainsonrevaluationoffixedassets		800,507	-	800,507	-
Netmovementinfunds		144,284	{10,734)	133,550	{209,456)
Reconciliationoffunds:
TotalfundsbroughtfonNard		1,641,672	25,976	1,667,648	1,877,104
Netmovementinfunds		144,284	{10,734)	133,550	(209,456)
Totalfundscarriedforward		1,785,956	15,242	1,801,198	1,667,648

Balancesheet asat31August2021
					Asrestated
			2021		2020
	Note		£		£
Fixedassets
Tangibleassets	12		2,809,104		2,084,018
			2,809,104		2,084,018
Currentassets
Stocks	13	500		1,136
Debtors	14	110,340		194,592
Cashatbankandinhand		47,780		90,386
		158,620		286,114
Creditors:amountsfallingduewithinone year	15	{809,979)		(308,912)
Netcurrentliabilities			(651,359)		(22,798)
Totalassetslesscurrentliabilities			2,157,745		2,061,220
Creditors:amountsfallingdueaftermore thanoneyear	16		(356,547}		(393,572}
Netassetsexcludingpensionasset			1,801,198		1,667,648
Totalnetassets			1,801,198		1,667,648
Charityfunds
Restrictedfunds	17		15,242		25,976
Unrestrictedfunds	17		1,785,956		1,641,672
Totalfunds			1,801,198		1,667,648

Statementofcashflows fortheyearended31August2021
	2021	2020
	£	£
Cashflowsfromoperatingactivities
Netcashusedinoperatingactivities	(3,243)	(171,741)
Cashflowsfrominvestingactivities
Dividends,interestsandrentsfrominvestments	765	1,257
Proceedsfromthesaleoftangiblefixedassets	-	1,408
Purchaseoftangiblefixedassets	{6,502)	(63,629)
Proceedsfromsaleofinvestments	-	47,219
Netcashusedininvestingactivities	(5,737}	(13,745)
Cashflowsfromfinancingactivities
Repaymentsofborrowing	(21,495)	51,142
Interestpaid	(12,132)	(1Q,280)
Netcash(usedin)/providedbyfinancingactivities	(33,627)	40,862
ChangeincashandcashequivalentsintheYear	(42,607)	(144,624)
CashandcashequivalentsatthebeginningoftheYear	90,387	235,011
CashandcashequivalentsattheendoftheYear	47,780	90,387
Thenotesonpages20to41formpartofthesefinancialstatements

	Unrestricted	Total	Total
	funds	funds	funds
	2021	2021	2020
	£	£	£
Donations	20	20	6,686
Total2020	..:.	..:.

	Unrestricted	Total	Total
	funds	funds	funds
	2021	2021	2020
	£	£	£
Feeincomereceivable	1,443,307	1,443,307	1,583,736
Total2020	1,583,736	1,583,736

	Unrestricted	Total	Total
	funds	funds	funds
	2021	2021	2020
		£	£
InterestonUKbankdeposits	765	765	1,257
Total2020	1,257	1,257

	Unrestricted	Total	Total
	funds	funds	funds
	2021	2021	2020
	£	£	£
Facilitylettingfees	1,296	1,296	2,724
Rentreceivable	8,858	8,858	8,858
Otherincomingresources	29,231	29,231	78,982
Insurancesettlement	148,450	148,450	60,Q00
Governmentgrantincome	28,667	28,667	119,799
Uniformincome	-	-	1,438
Tota12021	216,502	216,502	271,797
Tota12020	271,797	271,797

	Unrestricted	Total	Total
	funds	funds	funds
	2021	2021	2020
	£	£	£
Charitableactivities	2,327,551	2,327,551	2,064,930
Total2020	2,064,930	2,064,930

	Activities
	undertaken	Support	Total	Total
	directly	costs	funds	funds
	2021	2021	2021	2020
	£	£	£	£
Charitableactivities	825,375	1,502,176	2,327,551	2,064,930
Tota1202Q	990,570	1,074,360	2,064,930

	Charitable	Total	Total
	activities	funds	funds
	2Q21	2Q21	2020
Teachingstaffsalaries	813,612	813,612	974,128
Books,printingandstationery	11,763	11,763	16,442
Total2021	$25,375	825,375	990,570
Total2020	990,570	990,570

	Charitable	Total	Total
	activities	funds	funds
	2021	2021	2020
	£	£	£
Matron,domesticandgroundsstaffsalaries	114,799	114,799	115,655
Administrationstaffsalaries	194,565	194,565	201,184
Rentandrates	95,434	95,434	80,679
Insurance	26,700	26,700	26,378
Lightandheat	35,384	35,384	35,813
Groundsandplayingfield	45,426	45,426	75,155
Amortisationanddepreciation	80,019	80,019	79,455
(Profit)/lossonsaleoffixedassets	-	-	(960)
Repairsandmaintenance	18,213	18,213	29,549
Bankcharges	4,114	4,114	5,446
Auditandaccountancy	14,196	14,196	11,500
Advertising	12,748	12,748	24,428
Telephoneandpostage	7,580	7,580	10,144
Subscriptions	8,646	8,646	8,321
Transportandtravel	1,515	1,515	8,690
Staffrecruitment,trainingandwelfare	8,265	8,265	10,593
Legalandprofessional	625,045	625,045	62,261
Computercosts	16,813	16,813	19,045
Security	4,656	4,656	12,593
Music,sportandmisc	2,581	2,581	21,253
Inspections	2,213	2,213	3,782
Contractcleaning	1,956	1,956	1,194
Householdandmedical	9,891	9,891	10,570
Contractcatering	135,647	135,647	174,538
Badanddoubtfuldebts	4,991	4,991	35,125
Bankloaninterest	10,616	10,616	10,280
Establishmentexpenses	20,163	20,163	1,689
Total2021	1,502,176	1,502,176	1,074,360
Total2020	1,074,360	1,474,360

	2021	2020
	£	£
Feespayabletothecharity'sauditorfortheauditofthecharity'sannual
accounts	6,000	5,500
Feespayabletothecharity'sauditorinrespectof:
Allnon-auditservicesnotincludedabove	3,000	6,000

	2021	2020
	£	£
Wagesandsalaries	929,941	1,027,969
Socialsecuritycosts	80,571	98,451
Pensioncosts	93,580	126,755
	1,104,092	1,253,175

	2021	2020
	No.	No.
Teachers-fulltime	19	18
Teachers-parttime	7	6
Matrons	2	2
Domestics-parttime	4	5
Groundsandmaintenance	2	2
Administration-fulltime	4	3
Administration-parttime	2	3
	40	39

Thenumberofemployeeswhoseemployeebenefits(excludingemploy £60,000was:	erpensioncosts)excee	ded
	2021	2020
	No.	Na.
Intheband£70,001-£80,000	1	1
Employeesbenefitsinkindtotalled£1,768(2020:£1,179).

		Motor
	Freehold	vehiclesand
	property	equipment	Total
	£	£	£
Castorvaluation
At1September2020	2,030,767	489,904	2,520,671
Additions	3,645	2,857	6,542
Revaluations	735,588	-	735,588
At31August2021	2,770,000	492,761	3,262,761
Depreciation
At1September2020	-	436,653	436,653
ChargefortheYear	64,919	17,004	81,923
Onrevaluedassets	(64,919)	-	(64,919)
At31August2021	-	453,657	453,657
Netbookvalue
At31August2021	2,770,000	39,104	2,809,104
At31August2020(asrestated)	2,Q30,767	53,251	2,084,018

Debtors
	2021	2020
	£	£
Duewithinoneyear.
Tradedebtors	75,175	111,581
Otherdebtors	900	16,627
Prepaymentsandaccruedincome	34,265	66,384
	110,340	194,592

	2021	2020
	£	£
Bankloans	32,071	23,526
Tradecreditors	410,974	31,679
Obligationsunderfinanceleaseandhirepurchasecontracts	4,829	4,608
Othercreditors	75,183	79,168
Accrualsanddeferredincome	286,922	169,931
	809,979	308,912

£249,511includedwithintradecreditorsissecuredovertheprop	erty55-56WestStreet.
		2Q20
	£	£
Deferredincome
Deferredincomeat1September2020	144,687	162,357
Amountsreleasedtoincome	(144,687)	139,314
Movementindepositsandfeespaidinadvance	253,409	(156,984)
Deferredincomeat31August2021	253,409	144,687

	2021	2020
Bankloans	350,834	382,390
Netobligationsunderfinanceleaseandhirepurchasecontracts	5,713	11,182
	356,547	393,572

	2021	2020
	£	£
Netobligationsunderfinanceleaseandhirepurchasecontracts	-	7,035
		7,035

The Prebendal School (A company limited by guarantee)

Notes to the financial statements for the year ended 31 August 2021

17. Statement of funds

Statement of funds - current Year

Unrestricted funds Accumulated fund Revaluation reserve Restricted funds Prize Fund Scholarship Fund (Tanner Trust) Ernest and David Myers Award Fund Total of funds	Balance at 1 September 2020 (as restated) £ 684,528 957,144 1,641,672 6,691 2,658 16,627 25,976 1,667,648	Income £ 1,660,594 - 1,660,594 - - - - 1,660,594	Expenditure £ (2,327,551) - (2,327,551) - - - - (2,327,551)	Transfers in/out £ 10,734 - 10,734 - - (10,734) (10,734) -	Gains/ (Losses) £ - 800,507 800,507 - - - - 800,507	Balance at 31 August 2021 £ 28,305 1,757,651
						1,785,956
						6,691 2,658 5,893
						15,242
						1,801,198

The Prize Fund is to fund the award of small annual prizes to outstanding pupils. The balance of this fund is held separately in two bank accounts.

The Scholarship Fund (Tanner Trust) is to assist in the payment of fees by families of limited means or in time of hardship.

The Ernest and David Myers award fund is monies received in order to fund a Chorister bursary.

The Accumulated Fund represents those funds which are unrestricted.

Page 35

	Balanceat						Balanceat
	1September						31August
	2019(as			Transfers		Gains/	2020(as
	restated)	Income	Expenditure	in/out		(Losses)	restated)
		£	£		£	£	£
Unrestricted
funds
Accumulated
fund	883,674	1,863,476	(2,064,930)	10,310		(8,002)	684,52$
Revaluation
reserve	957,144	-	-	-		-	957,144
	1,840,818	1,863,476	(2,064,930)	10,310		{8,002)	1,641,672
Restricted
funds
PrizeFund	6,691	-	-	-		-	6,691
Scholarship
Fund(Tanner
Trust)	2,658	-	-	-		-	2,658
Ernestand
DavidMyers
AwardFund	26,937	-	-	(10,31	Q)	-	16,627
	36,286	-	-	(10,310}		-	25,976
Totaloffunds	1,877,104	1,863,476	(2,064,930)	-		{8,002)	1,667,648

Analysisofnetassetsbetweenfunds-curren	tyear
	Unrestricted	Restricted	Tatal
	funds	funds	funds
	2021	2021	2021
	£	£	£
Tangiblefixedassets	2,809,104	-	2,809,104
Currentassets	143,378	15,242	158,620
Creditorsduewithinoneyear	(809,979)	-	(809,979)
Creditorsdueinmorethanoneyear	(356,547}	-	(356,547}
Ttal	1,785,956	15,242	1,801,198

Analysisofnetassetsbetweenfunds-priorye	ar
	Unrestricted
	funds(as	Restricted	Total
	restated}	funds	funds
	2020	2020	2020
	£	£	£
Tangiblefixedassets	2,084,018	-	2,084,018
Currentassets	260,138	25,976	286,114
Creditorsduewithinoneyear	(308,912}	-	(348,912)
Creditorsdueinmorethanoneyear	(393,572)	-	(393,572)
	1,641,672	25,976	1,667,648

			2021	2020
			£	£
	Netexpenditurefortheyear(asperStatementofFinancialActivities)		(666,957)	(209,456)
	Adjustmentsfor:
	Depreciationcharges		81,923	75,994
	Gainsoninvestments		-	8,002
	Dividends,interestsandrentsfrominvestments		{765)	{374)
	Decreasel(increase)instocks		636	(1,032)
	Decrease/(increase)indebtors		84,252	(2,210)
	Increase/(decrease)increditors		487,052	(52,945)
	Interestpayable		12,132	10,280
	Netcashusedinoperatingactivities		(1,727)	{171,741)
20.	Analysisofcashandcashequivalents
			2021	2020
			£	£
	Cashinhand		47,780	90,387
	Totalcashandcashequivalents		47,780	90,387
21.	Analysisofchangesinnetdebt
		At1
		September		At31
		2Q20	Cashflows	August2021
		£	£	£
	Cashatbankandinhand	90,386	{42,606)	47,780
	Debtduewithin1year	(23,526)	(8,545)	{32,071)
	Qebtdueafter1year	(382,390)	31,556	{350,834)
	Financeleases	(15,790)	5,248	(10,542)
		{331,320)	(14,347}	(345,667)

	2021	2020
	£	£
Notlaterthan1year	52,679	53,992
Laterthan1yearandnotlaterthan5years	100,774	148,453
Laterthan5years	-	5,000
	153,453	207,445