|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|