##
|||PAGE|
|---|---|---|
|Introduction
by the President|||
|Report ofthe Trustees (Directors)||2 —9|
|Report ofthe Auditor||10 —13|
|Statement of Financial Activities||14|
|Statement ofOther Comprehensive|Income|15|
|Balance Sheet|||
|Cash Flow Statement||17|
|Notes to the Financial Statements||18 —32|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|STATEMENT OF FINANCIAL
AC TM77ES|STATEMENT OF FINANCIAL
AC TM77ES|||||||
|---|---|---|---|---|---|---|---|
|(INCLUDING INCOME AND EXPENDITURE||AC C CONTI||||||
||||||||17monthp
riiod|
|||Notes|2021|2021|2021|2021|ended Aug 2020|
||||Unrestricted|Other Restricted|Endowment|Total|Total|
||||Fund|Fund|Fund|Funds|Funds|
|Incoming Resources|||6|||||
|Donations and legacies|||||||11,57D|
|Hiring offaciiiTies|||4,928|||4,928|11,08D|
|income from invesbnenls|||||4,640|4,640|5,736|
|Income from charitable acfivifiesi||||||||
|School Fees||3.1|5,953,781|||5353,781|7,723,532|
|Gmnts Received||3.2|146,146|||146,146|298,545|
|Contribuficn
to school trips|||||||251|
|Other Income||||||||
|Other income||3.3|27,395|||27,395|2,339|
|Property Rental Income|||11,549|||1tA49|5,136|
|Expected Return
on Pension|Scheme Assets||||||200,000|
|Total income and endowments|||6,143,799||4,640|6,148,439|8258,tgt|
|Resources expended||||||||
|ihipenditure
on raising funds||||||||
|Costs ofgenerating
voluntary|income|5|||||399|
|Costs ofgenerating
funds||6|||||2,561|
|Expenditure
on charitabl|activi6es|4|5,271,144|20,014||5291,158|6,769,340|
|Total Resources Expended|||5271,144|20,014||5291,158|6,772,300|
|Het gains/Dosses)
on investmenls|||||18278|18278|11,576|
|Ret incomel(expenditure)|||872,655|(20,014)|%918|875,559|1,497,467|
|Transfer between funds|||( 6,557)||6,557|||
|Other recognised gainslloses||||||||
|Achwrial gainsl(losses)
on defined benelit||||||||
|pension scheme||24|(250,000)|||(250,000)|(515,000)|
|(Shorthll)/Gain
on expected|return on assets|24|924,000|||924,000|609,000|
|Gain on dhposal offixed assets|||113,070|||113,070||
|Net movement
in funds|||1,653,168|(20,014)|29,475|1,662,629|1,591,467|
|Total funds bmught forward||24|6,447,951|717,793|241,334|T,407,0Tl|5,815,611|
|Total funds cerned
fonvard|||8,101,119|697,779|270,809|9,O69,7OT|7,407,077|
##
##
|LANCE SHEET||||||
|---|---|---|---|---|---|
||||||17month
period|
||||Notes|2021|ended Aug 2020|
||||||6|
|RXEDASSETS||||||
|Tangible Assets|||10|7,only|6,494,428|
|Fixed Asset Investments|||9|124,693|106,415|
|||||7202,210|6,600,843|
|CURRENTASSETS||||||
|Debtors|||11|236,721|153,476|
|Cash at bank and in hand|||18|3$28$45|2,803,114|
|||||3,765,666|2,956,590|
|Less||||||
|Creditors
falling due within one year|||12||67,249|
|NET CURRENT ASSETS||||3,326,318|2,889,341|
|TOTAL ASSETSLESSCURRENT||LIABILlllES||10~~8|9,490,184|
|Less||||||
|Creditors falling due after|more than one year||13|821|4,107|
|NETASSETSexcluding|pension|liabliity||10427,707|9,486,077|
|Pension
liabliity|||19|1,458,000|2,079,000|
|NETASSETS including|pension|liabTrly||9,069,707|7,407,077|
|CAPITAL AND RESERVES||||||
|Unrestricted
funds||||||
|General Fund|||23|8,101,119|6,447,951|
|Restricted Funds||||||
|Restricted
Funds|||14|697,779|717,793|
|Endowment
Fund|||23|270,809|241,334|
|||||9,069,707|7,407,077|
|Appmved
by the Board on:||||||
|2 &'C|b'22||Dme|||
||~D 1|||||
|The notes set out on pages 18-32||form part|ofthese financial statements|||
##
||||17month
period|
|---|---|---|---|
||Notes|2021|endedAug
2020|
||||6|
|Cash flow from operabng activibas||||
|Cash generated
from operations
Intmest and dividends
received|17|1,481,121
4,640|608,923
5,736|
|Net cash fmm operating
activiTies||1,485,761|614,659|
|Cash flow from invesbng
activities||||
|Pumhase oftangi1ile fixed asset
Purchase offixed asset investment||(1,099,755)|( 195,000)|
|Sale oftangible fixed assets||339,824||
|Net cash from invesbng
activities||(759031)|( 195,000)|
|Cash flow from financing
acfivities||||
|Net cash from financing
acfivibes||||
|(Decrease)/inomase
in cash and cash equivalents|||419,659|
|Cash and cash equivalents
at the||||
|beginning
ofyear|18|2,803,114|2,383,455|
|Cash and cash equivalents
at the||||
|end ofyear|18|3A28,945|2,803,114|
##
##
##
##
##
|Depreciation|||||
|---|---|---|---|---|
|Depreciation
is calculated to write offthe costoffixed assets on a straight|||line basis over their estimated|useful lives as follows:|
|Plant||15years|||
|Motor Vehicles||5years|||
|ICT Equipment||3years|||
|Furniture|&Equipment|10years|||
|Freehold|Buildings|50 years|||
|Leased|Assets|Over the period ofthe lease|||
|Land||Not depreciated|||
##
##
##
##
##
##
##
##
|Grants re|ceivable||||||||
|---|---|---|---|---|---|---|---|---|
||||||||17month|period|
||||Unrestricted|Rastricted|2021||ended Aug 2020||
|||||f|||||
|Educa0on|and skigs funidng||||||||
|Pupil Premium|||45,414|||45,414||15,215|
|LACPP|||||||||
|Teachers|Grant NMSS||44,260|||44260|||
|Bursary Income||||||||1,965|
|Other grants|||49,318|||49218|281,365||
|Department|ofEducation||7,154|||7,154|||
|Sundry|||||||||
||||146,146|||146,146|||
|Other income|||||||||
||||||||17month|penod|
||||Unrestricted|Restricted|2021||ended Aug 2020||
||||f|||||f|
|Uniform Sales|||2,079|||2,079||968|
|Receipts from insurance||claims|24,744|||24,744|||
|Enterprise|and fundraising|income|572|||572||1,371|
|||||||27295||2,339|
##
|4 CHARITABLE EXPENDITURE|4 CHARITABLE EXPENDITURE|2021|2021|2021|17month
penod
ended Aug 2020|
|---|---|---|---|---|---|
|||General|Restricted|Total|Total|
|Direct Educadon
Salaries
Equipment
Acbvities
&Exam fees
Further Education||Fund
2,190,731
182,975
11,716
14,552|Fund
5|Funds
6
?„190,731
182II75
11,716
14$52|Funds
6
2,578,843
179,195
5,427
26,188|
|||2,399,974||2,399$?4|2,787,653|
|Childcsre Services||||||
|Salaries Child Care
Salaries Medical/Therapeutic||746,142
97,073||746,142
97,073|1,330,007
102,679|
|||843215||843215|1,432,686|
|Estahgshment
Expenses||||||
|Salaries||280,5D6||280/06|247,210|
|Gardens
&LandscaPing||15,522||15rf?2|20,341|
|Buildings
&Plant||236,465||236,465|234,018|
|Rent||||||
|Equipment
&Repairs||80,256||80256|114,040|
|Provisions||129,491||129,491|174,887|
|Services||82.486||82,486|91,669|
|Cleaning,
Laundry &Hygiene||31,287||31/87|41,077|
|Depreciagon||274,896|20,014|294vgf0|325,407|
|||113D909|20014|1,150rl23|1,248,449|
|Support Coom||||||
|Salaries||358,356||358,356|415,733|
|Printing,
Stationery, Postage &Telephone||33,940||33940|46,916|
|Adverbsing||9,869||9,869|4,982|
|Insurance||47,030||47,030|43,157|
|Generalltrie
Insurance|gvensions)|52,802||52,802|62,454|
|Travel||33,453||33,453|53258|
|Sundries||27,326||27426|16,834|
|Training||36,937||36,937|52,351|
|Payroll Bureau||8,676||8,676|12,000|
|Professional Fees||123,602||123,602|2D6,149|
|Ren IRate/Bank Charges &other interest||664||664|940|
|Bad debts||602||602|9,529|
|||733,257||733257|924,303|
|Governance costs||||||
|Salaries||||||
|Auditom
remuneration|forAudit Services|10,506||10,506|19,829|
|Auditors remunerabon|for Other Services|96D||960|4,420|
|||11,466||11,466|24,249|
|School pension costs||||||
|Pensions administration||152,323||152223|69,000|
|Past service costs||||||
|||152,323||152323|69,000|
|Total||5,271,144|20,014|5291,158|6,769,340|
##
|||||||||17momh period|17momh period|
|---|---|---|---|---|---|---|---|---|---|
|||||||Resbfcted|2021|endedAug
202D||
||Salaries||||||||f|
||||||||||399|
||||||||||399|
|6|COSTOF GENERATING||FUNDS|||||||
|||||||||17month period||
||||||Unrestricted||2021|endedAug
2020||
||Salaries||||||f|||
||||||||||2,561|
||||||||||2,561|
|7|NET INCOME FORTHE||YEAR|||||||
||The net income forthe year are stated ader||||charging:|||||
|||||||||17month|period|
||||||||2021|endedAug|2D20|
||Depreciation-
owned
Pension costs|assets|||||294rlt0|f
325,407||
||||||||402223|352,000||
|8|INCOME FROM UK INVESTMENTS|||||||||
|||||||||17month|period|
||||||||2021|ended Aug 2020||
||||||||f|||
||Income from unlisled
Interest on deposits|fixed|asset investmenls||||4,640||5,736|
||||||||||3,715|
|9|EDGED ASSETINVESTMENTS|||||||||
|||||||||17month|period|
|||||||2021|2021|ended Aug|2020|
|||||||Special Fund|Total||Total|
||||||||f||f|
||Valua0on 1September2020
Addition||||-unlisted
-Ungsled|106,415|106,415|94,839||
||(Decrease) / Increase
in market value
Valuation 31August 2021
Bookvalue31 August2021||||-unlisted|18278
124,693
124,693|18,278
124,693
124,693|11,576
106,415
1D6,415||
||Induded
in the charity's|investments||at the balance sheet date in the share capital ofcompanies||include the fogowing:||||
|09KRSPension Trustees|||Mmited|||||||
|Nature ofBusiness: non trading company||||||||||
|||||||31.0821|31.0820|||
|NOTES TO THE FINANCIAL STATEMENTS|||||||
|---|---|---|---|---|---|---|
|10TANGIBLE RXEDASSETS|||||||
||Land|Freehold|Plant|Motor|Furniture 6|TOTAL|
||f|Property
8||Vehicles|Equipment||
|Cosh|||||||
|At beginning
ofyear|30,000|8,326,458|767,135|91,033|277,112||
|AddiTions||643,030|304,315|44,830|107,58D|t,a99,755|
|Disposals||( 299,916)||(40,609)|( 16,133)|( 356,658)|
|At end ofyear|30,000|8,669,572|1,D71,450|95,254|368,559|10$34r835|
|Depreciation:|||||||
|At beginning
ofyear||2,254,836|526,264|83,415|132,795|2097210|
|Charge foryear||165,553|93,545|5,155|25,659|289/12|
|On disposal||(76,613)||(40,609)|( 12,682)|( 129,904)|
|At end ofyear||2,343,776|619,809|47,961|145,772|3,157218|
|Net book value:|||||||
|At31 August2021|30,000|6,325,796||47293|222,78T|7,077/17|
|At 31August 2020|30.000|6,D71,622|24D,871|7,618|144217|6,494,428|
|11|DEBTORS||||||||
|---|---|---|---|---|---|---|---|---|
||||||||17month period||
||||||2021||ended Aug 2D20||
|||||||||f|
||Trade debtom|||||73,944||59,641|
||Amounts
owed by fellow group undertakings|||||||1|
||Other debtors|||||52,010||6,274|
||Prepaymenls|and accrued income||||110,766||87,580|
|||||||216,721|153,476||
|12|CREDITORS|FALLING DUE IhilTHIN ONE YEAR|||||||
||||||||17month period||
||||||2021||ended Aug 202D||
|||||||||r'|
||Fees and grants charged Ireceived||in advance|(see note 20)|||||
||Trade Credkom|||||326,062||18,582|
||Accfuals|||||51,814||17,0DD|
||Other creditors|||||58,186||28,381|
||Hire purchase|contracts||||3286||3,286|
|||||||||67,249|
|13|CREDITORS FALUNG DUEAFTER MORE THAN ONE YEAR||||||||
||||||||17month|period|
||||||2021||ended Aug 2020||
|||||||6|||
||Hire purchase|conbacts||||821||4,107|
##
##
|RECONCILIATI|ON|QF MOVEMENT
IN THE SCHOOL FUNDS|||
|---|---|---|---|---|
|||||17month period|
||||2021|ended Aug 2020|
|||||f|
|Surplus/(deficit)|for|the year|1,662,629|1,591,467|
|Funds at beginning||ofyear|7,40T,077|5,815,610|
|Funds at end ofyear|||||
##
##
|17|RECONCILIATION
OFPROFI
FROM OPERATIONS|T TO|CASH GENER|ATED||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||17month|period|
||||||2021|||ended Aug 2020||
||Net income/(expenditure)|||||1,662,629||1,497,467||
||Depreciation||||||289$12||325,408|
||(Gain)/ on disposal offixed assets|||||(113,070)||||
||Return
on pension scheme assets|||||(924,000)|||(200,000)|
||Investment
income||||||(4,640)||( 5,736)|
||Pension scheme interest on pension||liabilities||||250„000||283,000|
||Pension scheme past senrice costs|||||||||
||Pension scheme administration|expenses|||||153,DOD||69,000|
||(Gain)/loss
on investment||||||(18,278)||( 11,576)|
|||||||1295,553||1,957,563||
||Decrease/(increase)
in trade and other debtom||||||( 83245)||191,959|
||(Decrease)/increase
in tmde and other creditom||||||368,813|( 635,599)||
||Payments
to reduce pension deficit|||||{100,000)||(905,000)||
||Net cash inflow from operating|ac6vities||||1,481,121|||608,923|
|18|CASH AND CASH EQUNALENTS|||||||||
||The amounts disdosed
on the Cash||Flow Statement|in respect ofcash and cash equivalents|are in respect ofthese Balance Sheet amounts:|||||
||ended|||||||||
||Year ended 31August 2021
Period|||||||||
|||||||||17month|period|
||||||2021|||ended Aug 2020||
||Cash and cash equivalents
31August202|||||6
3428B45||2,003,114||
||||||17month|period||||
||||||ended Aug||2020||2019|
||||||||6|||
||Cash and cash equivalenfs|||||2,803,114||2,383,455||
||(Decrease)/increase
in cash and cash equivalents||||||T25,831||419,659|
|19|PENSION LNBILITY|||||||||
|||||||||17month|period|
||||||2021|||ended Aug 202D||
||Shortfall ofpension scheme assets||lo liabitities||||||6|
||Brought forward|||||2,079,000||2,926,000||
||Movement
in year|||||(|621,000)|( 847,000)||
||Balance as at31.0821|||||1,458,000||2079,0DO||
|||||||||||||||17month
period|17month
period|17month
period|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||2021|ended|Aug 2020||
|Broughtforward||||||||||||||||f|
|Received during|the year|||||||||||||||329,364|
|Released
in the|year||||||||||||||||
|||||||||||||||||(329,364)|
|Balance as at31.D8.21|||||||||||||||||
|Average number ofpersons
Teaching,
induding
Teaching||||employed,
Assistants||excluding|||Directors, analysed||by function was:||2021|17month
period
ended Aug 2020|||
|Childcare, Care|home &Cliriical Services||||||||||||50|||44|
|Administration
&Finance|||||||||||||30|||35|
|Establishment|||||||||||||'l2|||12|
||||||||||||||15|||11|
||||||||||||||107|||102|
|Staffcosts comprise:
Salaries &wages
Social Secunly costs
Pension scheme costs|||||||||||||f
3,05R555
279rrtt||3,964,923
330,684||
||||||||||||||340242|||379,825|
||||||||||||||3A72,808||4,675,432||
|The Directors receive no remuneration,|||||orfees,|||or|reimbursement|of|expenses|for their services to the charily.|||||
|||||||||||||||17month||pwiod|
||||||||||||||2021|ended Aug 2020|||
|No ofemployees|Salary Band|||f60000|-669999||||||||||||
|No ofemployees|Salary Band|||680000-669999|||||||||||||
|No ofhigher paid|employees||accruing benefits under a defined benefits scheme||||||||||||||
|One tiigher paid employee||has beneMs|||accruing|||under a money||purchase scheme|||||||
|FINANCIAL COMMITMENTS|||||||||||||||||
|At31August 2021 the school|||was committed||||to|making the following|||payments|in the next tweive months|under non cancellable||||
|operating leases:|||||||||||||||||
|||||||||||||||17month|period||
||||||||||||||2021|ended Aug||2D20|
|Operating
leases which expire:
Wdhin
1year
In 1-5years
5years plus|||||||||||||OKce Equipment
6
3286
821|Office Equipment
f
7,267
5,274|||
||||||||||||||4,107|||12,541|
##
##
##
##
##
|The major assumptions
u|sed forthe calcu|lations
were:||||
|---|---|---|---|---|---|
||||2021|~77|70
' d|
||||||70
t2020|
|Discount rate
RPI inflafion
CPI inflation
Rate ofincrease ofdeferred
Rate ofincrease
in pensions|pensions
in payment|pre 1 April 2006|1.6'/0
3.3'/o
2.8'/o
28'/o
3.2'/0||1.5'/o
2 90/o
2 30/a
2 3o/
2 9o/|
|||Post 31 March 2006|2 6a%%d||2.4o%%d|
|Mortality (pre retirement)
Mortality (post retirement)|||Nil
63PMA/63PFA||Nil
63PMA/63PFA|
##
##
##
|25|ANALYSIS OF FUNDS|SY|NETA|SSETS|||||
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted
funds|Restricted funds|||
||||||General|Restricted|Endowment||
||||||Fund|Fund|Fund|Total|
||Opening
balance at01.D920||||6,447,951|717,793|241,334|7,407,078|
||Net (outgoing)/incoming|resoumes||before|||||
||transfers and investment|gains|||872,655|( 20,014)|22,918|875,559|
||Tmnsfersr||||||||
||Pension actuarial gain/(deficit)||||(250,000)|||( 250,000)|
||Gain on disposal offixed|assets|||113,D70|||113,070|
||(Shortfag)/Gain
on expected||return|on assets|924,000|||924,000|
||Repayment
ofloan from||||||||
||endowment
funds||||( 6,557)||6,557||
||Closing balance at31.0821||||8,101,119||270,809|9,0ti9,707|
||Represented
by:||||||||
||Tangible gxed assets||||6,379,738|697,779||7,077,517|
||Investments||||||124,693|124,693|
||Other net assets||||3,179,381||146,116|3,325,497|
||Provision for pension shorthg||||(1,458,000)|||(1,458,000)|
||Closing balance at31.08.21||||8,101,119||270,809|9,069,707|
||Prior year.||||||||
||Tangible Dxed assets||||5,776,636|717,792||6,494,428|
||lrlvesirrlenis||||||106,415|1D6,415|
||Other net assets||||2,750,315||134,919|2,885234|
||Provision for pension shortfall||||( 2,D79,000)|||( 2,079,000)|
||Closing balance at31.0820||||6,447,951|717,792|241,334|7,407,0TI|
|26|RESERVESNOTE||||||2021|202D|
||Reserves exduding
pension||liability||||10',707|9,486,077|
||Pension resenre||||||(1A58,000)|( 2,079,000)|
||Reserves||||||9,069,T07|7,4D7,07/|
|27|RELATED PARTY||||||||
||There were no disdosable|related pariy transac6ons|||during the year (2020-none).||||
##
##
##
##
##
|||||||17mondr period||
|---|---|---|---|---|---|---|---|
||||2020|202D|2D20|ended Aug 2020|2019|
||||Unrestricted|Other Restricted|Endowment|Total|Total|
|Incoming Resources|||Fund
f|Fund
f|Fund
f|Funds
f|Funds
f|
|Donations and legacies
Hiring offacilities
Income from investments
Income from charhable
activities:|||11570
11,080
932|||11~0
11,080
5,736|4,178
7,744
3,715|
|School Fees
Grants Received|||7,723,532
298,545|||7,723432
298~|5,338,219
15,096|
|Contribution
to school trips|||251|||251||
|Other Income||||||||
|Other income|||2,339|||2,339|951|
|Property Rental Income|||5,138|||5,138||
|Expected Return
on Pension|Scheme Assets||200,0DD|||200,000|145,000|
|Total income and endowments|||8,253,387||4,804|8258,191|5,515,128|
|Resources expended||||||||
|Expenditure
on raising funds||||||||
|Costs ofgenerating
vo/unlmy|income||399|||399|387|
|Costs ofgenerating
funds|||2,561|||2461|2,486|
|Expenditure
on charitable
Total Resources Expended|activities||6,74D,987
6,743$47|28253||6,769,340
6,7T2,300|5219,026
5222,700|
|Net gains/gosses)
on investments|||||11,576|11E/6|6,936|
|Net income/(expenditure)|||1409/MD|(28253)|16280|IA97,467|299,364|
|Transfer between funds|||( 9,289)||9,289|||
|Other recognised
gains/loses||||||||
|Actuarial gairw/(losses)
on defined||benefit||||||
|pension scheme|||( 515,000)|||(515,000)|( 332,000)|
|(Shorffafi)/Gain
on expected|return|on assets|609,000|||609,000|276,000|
|Gain on disposal offixed assets|||||||60|
|Net movement
in funds|||1~4,151|(28253)|25,669|1491rssy|243,424|
|Total funds brought forward|||4,853,799|746,146|215,665|5,815,610|5,572,186|
|Total funds canied forward|||6,447,950|717,793|241,334|TA07,0T/|5,815,610|