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|Contents||||Page|
|---|---|---|---|---|
|Reference
and Administrative
Details|||||
|Trustees'
Report|||||
|Statement
of|Trustees'
Responsibilities||||
|Independent|Auditor's
Report on the Financial||Statements||
|Statement
of|Financial
Activities||||
|incorporating|Income & Expenditure|Account||10|
|Balance Sheet|||||
|Statement
of|Cash Flows||||
|Notes forming|part of the Financial Statements,||incorporating:||
|Statement
ofAccounting
Policies|||||
|Other Notes|to the Financial
Statements||||
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|Trustees|Trustees|||||||G Walker|(31/10/2016 —date)|(31/10/2016 —date)|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||M Hall|(31/10/2016 —date)||
|||||||||A Simpson|(31/10/2016 —date)||
|Governors||||||||M Povey|||
|||||||||D Loughran|||
|||||||||P Bassi|||
|||||||||A Loughran|||
|||||||||A Coley|||
|Senior|management||||team||||||
|||Principal||||||M Hall|||
|||Business Manager||||||SScadeng|||
|||Head of Inclusion|||||Support|A Mackenzie|||
|||Head of Curriculum||||||C Benzigar|||
||Head||ofOps||and||Compliance|M Ros|||
||Head||of Pastoral||||and||||
||Behaviour|||||||J Taylor|||
|Company||name||||||Sandwell
Valley||School Limited|
|Principal||and|registered|||office||150 Birmingham||Road|
|||||||||West Bromwich|||
|||||||||West Midlands|||
|||||||||England|||
|||||||||B706QT|||
|Company||registration|||number|||10288316|||
|Charity|registration|||number||||1172272|||
|Independent|||auditor|||||Feltons|||
|||||||||8 Sovereign|Court||
|||||||||8 Graham
Street|||
|||||||||Birmingham|B1|3JR|
|Bankers||||||||Barclays Bank Pic|||
|||||||||PO Box299|||
|||||||||Birmingham|||
|||||||||B13PF|||
|Solicitors||||||||The Penninsula|||
|||||||||Victoria Place|||
|||||||||Manchester|||
|||||||||M4 4FB|||
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|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|2021/22|2020/21|
||||Notes|f|f|||
|Income from:||||||||
|Donations
and legacies|||3||51,750|51,750|11,129|
|Charitable
activities|||4|1,084,831|28,900|1,113,731|1,042,382|
|Other trading
activities||||6,020||6,020||
|Total||||1,090,851|80,650|1,171,501|1,053,511|
|Expenditure
on||||||||
|Charitable
activities:|||5|1,037,852|80,650|1,118,502|1,073,265|
|Total||||1,037,852|80,650|1,118,502|1,073,265|
|Net income/(expenditure)||before transfers||52,999||52,999|(19,754)|
|Transfers
between|funds|||||||
|Net income/(expenditure)||after transfers||52,999||52,999|(19,754)|
|Reconciliation
offunds||||||||
|Total funds
brought|forward|||1,712,499||1,712,499|1,732,253|
|Total funds carried|forward|||1,765,498||1,765,498|1,712,499|
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||||Notes|2021/22|2020/21|
|---|---|---|---|---|---|
|Cash flows from operating|activities|||||
|Net cash (used in) / provided
by operating||activities|13|(34,591)|66,982|
|Change
in cash and cash|equivalents
in|the reporting||||
|period||||(34,591)|66,982|
|Cash and cash equivalents|at 1 September|2021||1,206,244|1,139,262|
|Cash and cash equivalents|at 31 August|2022|14|1,171,653|1,206,244|
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|3.|Donations|and legacies|and legacies||||
|---|---|---|---|---|---|---|
|||||Restricted|2021/22|2020/21|
|||||funds|Total|Total|
||||||E||
||Government||grants|51,750|51,750|11,129|
|||||51,750|51,750|11,129|
|4.|Charitable|activities|||||
|||||Charitable|2021/22|2020/21|
|||||income|Total|Total|
||Charitable|income||1,113,731|1,113,731|1,042,382|
|||||1,113,731|1,113,731|1,042,382|
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|Charitable|ac|tivities|costs||||
|---|---|---|---|---|---|---|
|||||Charitable|2021/22|2020/21|
|||||expenditure|Total|Total|
||||||F||
|Staff costs||||504,735|504,735|473,062|
|Depreciation||and impairment||2,965|2,965|2,965|
|Sessional|workers||and tutors|40,592|40,592|17,488|
|Insurance||||15,766|15,766|7,474|
|Maintenance||||26,354|26,354|26,939|
|Heat, light|and power|||23,148|23,148|20,197|
|Rent and leasing||||119,242|119,242|1'l8,317|
|Sundries||||67,075|67,075|91,019|
|Travel||||13,334|13,334|5,681|
|Equipment|purchases|||9,687|9,687|4,629|
|Equipment|hire and||maintenance|2,094|2,094|3,909|
|Provisions||||8,698|8,698|4,096|
|Agency costs
Bad debts||||57,885
~14,232|57,885
~14,232|67,532
~30,510|
|||||877,343|877,343|812,798|
|Share ofsupport costs (see note 6)||||234,215|234,215|209,503|
|Share of governance|||costs (see note 6)|6,944|6,944|50,964|
|||||1,118,502|1,118,502|1,073,265|
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|Support c|osts|||||||
|---|---|---|---|---|---|---|---|
|||||Support|Governance|2021/22|2020/21|
|||||costs|costs|Total|Total|
|||||||f||
|Staff costs||||216,315||216,315|200,141|
|Accountancy||||11,848||11,848|2,272|
|Printing, postage,||stationery|and telephone|6,052||6,052|7,090|
|Audit fees|||||6,000|6,000|11,060|
|Legal and|professional||||944|944|39,904|
|Analysed|between|Charitable|Activities|234,215|6,944|241,159|260,467|
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|Staff costs during
the period were:|||
|---|---|---|
||2021/22|2020/21|
|Wages and salaries|645,054|606,779|
|Social security costs|58,802|51,429|
|Pension costs|17,194|14,995|
||721,050|673,203|
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|||||||||2021/22|2020/21|
|---|---|---|---|---|---|---|---|---|---|
|||||||||Number|Number|
|The number ofemployees
costs) exceeded E60,000||whose employee
on an annualised||benefits
(excluding
basis was:||employer|pension|||
|E70,001 - E80,000||||||||||
|Tangible fixed assets||||||||||
|||||||||Leasehold||
|||||||||land and||
|||||||||building|Total|
||||||||||E|
|Cost or valuation||||||||||
|At 1 September 2021
At 31 August 2022||||||||74,121
74,121|74,121
74,121|
|Depreciation||||||||||
|At 1 September 2021
Charge for the year
At 31 August 2022||||||||15,071
2,965
18,036|15,071
2,965
18,036|
|Net book values||||||||||
|At 31August 2022||||||||56,085|56,085|
|At 31 August 2021||||||||59,050|59,050|
|Debtors||||||||||
|||||||||2022|2021|
|||||||||E|E|
|Amounts
falling due|within one||year;|||||||
|Trade debtors||||||||746,848|780,179|
|Other debtors||||||||4,833|3,004|
|Prepayments|and accrued||income|||||96,922|24,286|
|||||||||848,603|807,469|
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|Creditors: am|ounts
|falling due within one year|||
|---|---|---|---|---|
||||2022|2021|
|Trade creditors|||52,028|99,543|
|Other taxation|and social security||17,127|12,283|
|Other creditors|||198,206|212,292|
|Accruals and deferred||income|43,482|36,146|
||||310,843|360,264|
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||||Balance at|||Balance at|
|---|---|---|---|---|---|---|
||||1 September|||31August|
||||2021|Income|Expenditure|2022|
|||||K|||
|Unrestricted
general funds|||1,712,499|1,090,851|(1,037,852)|1,765,498|
|Restricted Funds||||80,850|~80,650||
|Total net assets|||'1,712,499|1,171,501|~1,118,502|1,765,498|
|Analysis of net assets between||funds|||||
|Fund balances|at 31 August|||Unrestricted|||
|2022 are represented
by:||||general|Restricted|Total|
|||||funds|funds|funds|
|||||||F|
|Fixed Assets||||56,085|0|56,085|
|Current assets
Current
liabilities||||2,020,256
(310,843)||2,020,256
~310,843|
|||||1,765,498||1,765,498|
|Creditors due after one year|||||||
|Total net assets||||1,765,498||1,765,498|
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|At 31 August|2022 the|total of the Academy|total of the Academy|total of the Academy|||||
|---|---|---|---|---|---|---|---|---|
|Trust's future
minimum
cancellable
operating||lease payments
leases was:||under non-|||Total
2022|Total
2021|
|Amounts
due|within one||year||||125,689|124,767|
|Amounts
due|between|one and five years|||||480,000|486,754|
|Amounts
due|after five|years|||||1,740,000|1,860,000|
||||||||2,345,689|2,471,521|
|15. Reconciliation|of net|income/(expenditure)|||to net cash flow||||
|from operating
activities|||||||2021/22|2020/21|
||||||||Total|Total|
|Net income/(expenditure)
Adjusted for:|||for reporting|period|(as per the SoFA)||52,999|(19,754)|
|Depreciation|(note 5)||||||2,965|2,965|
|Increase
in debtors|||||||(41,134)|(1,095)|
|(Decrease) /|increase||in creditors||||(49,421)|84,866|
|Net cash (used in) / provided
by operating|||||activities||~34,581|66,982|
|16. Analysis
ofchanges
in|||net debt||||||
||||||At||Other|At|
||||||31 August|Cash|non-cash|31 August|
||||||2021|flows|changes|2022|
|Cash at bank and in hand|||||1,206,244|(34,591)||1,171,653|
||||||1,206.244|~34,591||1,171,653|
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|Remuneration
of key management|Remuneration
of key management|Remuneration
of key management|personnel|||||
|---|---|---|---|---|---|---|---|
|Remuneration|received
by|key management||||||
|personnel
is|as follows:|||||2022|2021|
|||||||E|E|
|Aggregate|compensation|||||76,000|76,000|
|Transactions|with re/ated|parties||||||
|During the year the charity||entered|into the following|transactions|with related parties:|||
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