| Report ofthe Trustees | 1 | to | 6 |
|---|---|---|---|
| Report ofthe Independent Auditors |
7 | to | 9 |
| Statement of Financial Activities |
10 | ||
| Balance Sheet | |||
| Cash Flow Statement | 12 | ||
| Notes to the Cash Flow Statement | 13 | ||
| Notes to the Financial Statements | 14 | to | 22 |
| Detailed Statement of Financial Activities |
23 | to | 24 |
| for the yea | r ended | 31August 20 | 22 | |||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| Unrestricted | Restricted | Total | Total | |||||
| Notes | fund E |
fundf | funds E |
funds E |
||||
| INCOME AND ENDOWMENTS | FROM | |||||||
| Donations | and legacies | 42,397 | 2,000 | 44,397 | 28,257 | |||
| Charitable | activities | |||||||
| Education | 2,661,141 | 2,661,141 | 2,258,043 | |||||
| Investment | income | 165,124 | ||||||
| Total | 2,703,538 | 2,000 | 2,705,538 | 2,451,424 | ||||
| EXPENDITURE ON | ||||||||
| Charitable | activities | |||||||
| Education | 2,968,341 | 2,000 | 2,970,341 | 2,204,944 | ||||
| Other | 2,216 | 2,216 | ||||||
| Total | 2,970,557 | 2,000 | 2,972,557 | 2,204,944 | ||||
| NET INCOME/(EXPENDITURE) | (267,019) | (267,019) | 246,480 | |||||
| RECONCILIATION | OF FUNDS | |||||||
| Total funds | brought | forward | 575,261 | 575,261 | 328,781 | |||
| TOTAL FUNDS CARRIED FORWARD | 308,242 | 308,242 | 575,261 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | E | E | E | E | ||
| FIXED | ASSETS | |||||
| Tangible | assets | 12 | 329,114 | 329,114 | 183,364 | |
| CURRENT ASSETS | ||||||
| Debtors | 13 | 72,349 | 72,349 | 55,025 | ||
| Cash at | bank | 104,416 | 104,416 | 426,820 | ||
| 176,765 | 176,765 | 481,845 | ||||
| CREDITORS | ||||||
| Amounts | falling due within one year | 14 | (170,305) | (170,305) | (89,948) | |
| NET CURRENT ASSETS | 6,460 | 6,460 | 391,897 | |||
| TOTAL | ASSETS LESSCURRENT LIABILITIES | 335,574 | 335,574 | 575,261 | ||
| CREDITORS | ||||||
| Amounts | falling due after more than one year | 15 | (27,332) | (27,332) | ||
| NET ASSETS | 308,242 | 308,242 | 575,261 | |||
| FUNDS | 18 | |||||
| Unrestricted funds |
308,242 | 575,261 | ||||
| TOTAL | FUNDS | 308,242 | 575,261 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Notes | E | f | ||
| Cash flows from operating activities |
||||
| Cash generated from operations |
(155,475) | 275,595 | ||
| Interest element of hire purchase payments |
||||
| pa Id | (2,216) | |||
| Net cash (used in)/provided | by operating | activities | (157,691) | 275,595 |
| Cash flows from investing | activities | |||
| Purchase oftangible fixed assets Sale oftangible fixed assets |
(199,563) | (184,531) 291,212 |
||
| Net cash (used in)/provided | by investing | activities | (199,563) | 106,681 |
| Cash flows from financing | activities | |||
| Capital repayments in year |
34,850 | |||
| Net cash provided by financing activities |
34,850 | |||
| Change in cash and cash |
equivalents | in | ||
| the reporting period Cash and cash equivalents |
at the | (322,404) | 382,276 | |
| beginning ofthe reporting |
period | 426,820 | 44,544 | |
| Cash and cash equivalents | at the end of | |||
| the reporting period |
104,416 | 426,820 |
| 2022 | 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| f | f | ||||||||
| Net (expenditure)/income | for the reporting | period | (as per | the | |||||
| Statement | of | Financial Activities) | (267,019) | 246,480 | |||||
| Adjustments | for: | ||||||||
| Depreciation | charges | 53,813 | 22,780 | ||||||
| Interest element of hire purchase | and finance lease rental | payments | 2,216 | ||||||
| Increase in debtors |
(17,324) | (18,429) | |||||||
| Increase in creditors |
72,839 | 24,764 | |||||||
| Net cash (used in)/provided | by operations | (155,475) | 275,595 | ||||||
| ANALYSIS OF CHANGES IN | NET FUNDS | ||||||||
| At 1.9.21 | Cash flow | At 31.8.22 | |||||||
| E. | E | E | |||||||
| Net cash | |||||||||
| Cash at bank | 426,820 | (322,404) | 104,416 | ||||||
| 426,820 | (322,404) | 104,416 | |||||||
| Debt | |||||||||
| Finance leases | (34,850) | (34,850) | |||||||
| (34,850) | (34,850) | ||||||||
| Total | 426,820 | (357,254) | 69,566 |
| DONATIONS AND LEGACIES |
DONATIONS AND LEGACIES |
||
|---|---|---|---|
| 2022 | 2021 | ||
| E | |||
| Parental donations |
35,906 | 19,470 | |
| Other income | 8,491 | 8,787 | |
| 44,397 | 28,257 | ||
| INVESTMENT INCOME | |||
| 2022 | 2021 | ||
| E | E | ||
| Surplus on sale ofassets | 165,124 | ||
| INCOME FROM CHARITABLE | ACTIVITIES | ||
| 2022 | 2021 | ||
| Activity | E | E | |
| ESFA income | Education | 1,063,755 | 964,616 |
| Local authority income |
Education | 1,418,174 | 1,138,358 |
| Dept ofeducation Dept for work 5pensions |
Education Education |
118,476 44,251 |
140,003 1,806 |
| Coventry council |
Education | 5,750 | |
| Solihull council | Education | 10,735 | 7,510 |
| Hereford Council |
Education | 5,750 | |
| 2,661,141 | 2,258,043 |
| for t | he year ended 31August 2022 | he year ended 31August 2022 | he year ended 31August 2022 | he year ended 31August 2022 | |||
|---|---|---|---|---|---|---|---|
| 6. | CHARITABLE ACTIVITIES COSTS | ||||||
| Support | |||||||
| Direct | costs (see | ||||||
| Costs E |
note 7) | Totals f |
|||||
| Education | 2,347,984 | 622,357 | 2,970,341 | ||||
| 7. | SUPPORT COSTS | ||||||
| Other | |||||||
| E | |||||||
| Education | 622,357 | ||||||
| Support costs, included | in the above, are as follows: | ||||||
| Other | |||||||
| 2022 | 2021 | ||||||
| Total | |||||||
| Education | activities | ||||||
| E | E | ||||||
| Catering | 52,340 | 27,643 | |||||
| Marketing | 8,620 | ||||||
| Rent and rates | 247,624 | 183,935 | |||||
| Water rates | 1,736 | 2,400 | |||||
| Waste collection | 6,943 | 2,628 | |||||
| Cleaning | 36,779 | 31,184 | |||||
| Gas &.electricity | 11,964 | 9,474 | |||||
| Office costs | 19,894 | 12,050 | |||||
| Phone &mobile | 13,691 | 13,621 | |||||
| Subscriptions | &memberships | 22,889 | 23,042 | ||||
| Legal &professional | fees | 16,019 | 28,509 | ||||
| Insurance | 10,298 | 8,319 | |||||
| Auditors fee | 14,837 | 7,476 | |||||
| Repairs &renewals | 18,413 | 25,189 | |||||
| Health &safety | 28,854 | 33,366 | |||||
| Bank charges | &interest | 149 | 83 | ||||
| Depreciation | 53,814 | 22,780 | |||||
| ITexpenditure | 56,940 | 54,655 | |||||
| General expenses | 553 | 6,958 | |||||
| Website costs | 2,838 | ||||||
| 622,357 | 496,150 | ||||||
| 8. | NET INCOME/(EXPENDITURE) | ||||||
| Net income/(expenditure) | is stated after charging/(crediting): | ||||||
| 2022f | 2021 | ||||||
| Depreciation - |
owned | assets | 53,813 | 22,780 | |||
| Auditor's fees | - statutory | audit | 6,600 | 6,600 |
| There were no trust | e | es' expenses |
p | aid for t | he year ended 31August 2022 (202 | 1:None). | |
|---|---|---|---|---|---|---|---|
| STAFF COSTS | |||||||
| 2022 | 2021 | ||||||
| E | E | ||||||
| Wages and salaries | 1,749,535 | 1,324,096 | |||||
| Social security costs | 155,143 | 109,739 | |||||
| Other pension costs | 169,493 | 120,773 | |||||
| 2,074,171 | 1,554,608 | ||||||
| The average monthly |
number of | employees | during the year was as follows: | ||||
| 2022 | 2021 | ||||||
| Total | 70 | 54 | |||||
| One employee received emoluments |
in excess off60,000 (2021:One). | ||||||
| COMPARATIVES FOR THE STATEMENT | OF FINANCIAL ACTIVITIES | ||||||
| Unrestricted | |||||||
| fund | |||||||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Donations and legacies |
28,257 | ||||||
| Charitable activities |
|||||||
| Education | 2,258,043 | ||||||
| Investment income |
165,124 | ||||||
| Total | 2,451,424 | ||||||
| EXPENDITURE ON | |||||||
| Charitable activities |
|||||||
| Education | 2,204,944 | ||||||
| NET INCOME | 246,480 | ||||||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds brought | forward | 328,781 | |||||
| TOTAL FUNDS CARRIED FORWARD | 575,261 |
| TANGIBLE | FIXEDAS | SE | TS | ||||
|---|---|---|---|---|---|---|---|
| Improvements | Fixtures | ||||||
| to | and | Motor | Computer | ||||
| property | fittings | vehicles | equipment | Totals | |||
| E | E | E | |||||
| COST | |||||||
| At 1 September 2021 | 147,691 | 21,551 | 55,425 | 224,667 | |||
| Additions | 44,547 | 49,534 | 92,054 | 13,428 | 199,563 | ||
| At 31August | 2022 | 192,238 | 71,085 | 92,054 | 68,853 | 424,230 | |
| DEPRECIATION | |||||||
| At 1September 2021 | 7,385 | 10,873 | 23,045 | 41,303 | |||
| Charge for year | 9,612 | 13,689 | 18,411 | 12,101 | 53,813 | ||
| At 31August | 2022 | 16,997 | 24,562 | 18,411 | 35,146 | 95,116 | |
| NET BOOK VALUE | |||||||
| At 31August | 2022 | 175,241 | 46,523 | 73,643 | 33,707 | 329,114 | |
| At 31August | 2021 | 140,306 | 10,678 | 32,380 | 183,364 | ||
| DEBTORS:AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||||||
| 2022 | 2021 | ||||||
| E | E | ||||||
| Trade debtors | 1,400 | ||||||
| Other debtors | 61,621 | 46,967 | |||||
| Prepayments | and accrued | income | 9,328 | 8,058 | |||
| 72,349 | 55,025 | ||||||
| CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||||||
| 2022 | 2021 | ||||||
| E | |||||||
| Hire purchase | (see note | 16) | 7,518 | ||||
| Trade creditors | 50,545 | 27,899 | |||||
| Social security | and other | taxes | 83,447 | 32,240 | |||
| Other creditors | 22,195 | 15,070 | |||||
| Accrued expenses | 6,600 | 14,739 | |||||
| 170,305 | 89,948 |
| 15. | CREDITORS: | CREDITORS: | AMOUNTS | FALLING DUE AFTER MORE THAN ONE YEAR | FALLING DUE AFTER MORE THAN ONE YEAR | FALLING DUE AFTER MORE THAN ONE YEAR | |||
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||||
| f | f | ||||||||
| Hire purchase | (see note 16) | 27,332 | |||||||
| 16. | LEASING AGREEMENTS | ||||||||
| Minimum lease |
payments | fall due as follows: | |||||||
| Hire purchase | contracts | ||||||||
| 2022 | 2021 | ||||||||
| f | f | ||||||||
| Net obligations | repayable: | ||||||||
| Within one year | 7,518 | ||||||||
| Between one | and five years | 27,332 | |||||||
| 34,850 | |||||||||
| Non-cancellable | operating | ||||||||
| leases | |||||||||
| 2022 | 2021 | ||||||||
| f | |||||||||
| Within one year | 50,564 | 43,582 | |||||||
| Between one and five years | 110,016 | 160,580 | |||||||
| 160,580 | 204,162 | ||||||||
| 17. | SECURED DEBTS | ||||||||
| The following | secured debts | are included | within | creditors: | |||||
| 2022 | 2021 | ||||||||
| f | f | ||||||||
| Hire Purchase | 34,850 | ||||||||
| 18. | MOVEMENT IN FUNDS | ||||||||
| Net | |||||||||
| movement | At | ||||||||
| At 1.9.21 | in funds | 31.8.22 | |||||||
| f | f | ||||||||
| Unrestricted | funds | ||||||||
| General fund |
575,261 | (267,019) | 308,242 | ||||||
| TOTAL FUNDS | 575,261 | (267,019) | 308,242 |
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| E | E | |||
| Unrestricted | funds | |||
| General fund |
2,703,538 | (2,970,557) | (267,019) | |
| Restricted funds | ||||
| The Hargreaves | Foundation | 2,000 | (2,000) | |
| TOTAL FUNDS | 2,705,538 | (2,972,557) | (267,019) |
| Net | |||||||
|---|---|---|---|---|---|---|---|
| movement | At | ||||||
| At 1.9.20 | in funds | 31.8.21 | |||||
| E | E | ||||||
| Unrestricted | funds | ||||||
| General | fund | 328,781 | 246,480 | 575,261 | |||
| TOTAL | FUNDS | 328,781 | 246,480 | 575,261 | |||
| Comparative | net movement | in funds, | included | in the above are as follows: | |||
| Incoming | Resources | Movement | |||||
| resources | expended | in funds | |||||
| E | E | ||||||
| Unrestricted | funds | ||||||
| General | fund | 2,451,424 | (2,204,944) | 246,480 | |||
| TOTAL | FUNDS | 2,451,424 | (2,204,944) | 246,480 |
| Detailed Statement of Financial Activities for the year ended 31August 2022 |
||
|---|---|---|
| 2022 | 2021 | |
| E | E | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies |
||
| Parental donations Other income |
35,906 8,491 |
19,470 8,787 |
| 44,397 | 28,257 | |
| Investment income |
||
| Surplus on sale ofassets |
165,124 | |
| Charitable activities |
||
| ESFA income Local authority income Dept of education Dept for work 5 pensions Coventry council Solihull council Hereford Council |
1,063,755 1,418,174 118,476 44,251 10,735 5,750 |
964,616 1,138,358 140,003 1,806 5,750 7,510 |
| 2,661,141 | 2,258,0i}3 | |
| Total incoming resources |
2,705,538 | 2,451,424 |
| EXPENDITURE | ||
| Charitable activities |
||
| Salary costs Social security Pensions Agency staff Goods Transport activities Staff training Student support costs |
1,749,535 155,143 169,493 58,137 12,299 81,019 30,595 91,763 |
1,324,096 109,739 120,773 22,173 3,076 41,651 44,404 42,882 |
| 2,347,984 | 1,708,794 | |
| Other | ||
| Hire purchase | 2,216 | |
| Support costs | ||
| Other | ||
| Catering Marketing Rent and rates Water rates Waste collection Cleaning Gas5electricity Office costs Phone 5.mobile Carried forward |
52,340 8,620 247,624 1,736 6,943 36,779 11,96'} 19,894 13,691 399,591 |
27,643 183,935 2,400 2,628 31,184 9,474 12,050 13,621 282,935 |
| Detailed Statement of Financial Activities for the year ended 31August 2022 |
||
|---|---|---|
| 2022 | 2021 | |
| Other | E | f |
| Brought forward Subscriptions 5 memberships Legal 5 professional fees Insurance Auditors fee Repairs 5 renewals Health 5safety Bank charges 5interest Depreciation IT expenditure General expenses Website costs |
399,591 22,889 16,019 10,298 14,837 18,413 28,854 149 53,814 56,940 553 |
282,935 23,042 28,509 8,319 7,476 25,189 33,366 83 22,780 54,655 6,958 |
| 2,838 | ||
| 622,357 | 496,150 | |
| Total resources expended | 2,972,557 | 2,204,944 |
| Net (expenditure)/income | (267,019) | 246,480 |