2022-08-31-accounts - West Kirby Educational Trust

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		Page
Introduction by the President
Report ofthe Trustees	2	to	8
Report ofthe Independent Auditors	9	to	12
Statement ofFinancial Activities		13
Balance Sheet		14
Cash Flow Statement		15
Notes to the Cash Flow Statement		16
Notes to the Financial Statements	17	to	36
Detailed Statement ofFinancial Activities	37	to	38

				for the Year En	ded 31August 2	022
							31.8.22	31.8.21
				Unrestricted	Restricted	Endowment	Total	Total
				fund	funds	fund	funds	funds
			Notes
INCOME AND
ENDOWMENTS	FROM
Donations and legacies				1,405			1,405
Charitable activities
Direct Education				6,596,778	46,639		6,643,417	6,099,927
Investment income				2,785		6,557	9,342	16,189
Other income				18,674			18,674	32,323
Total				6,619,642	46,639	6,557	6,672,838	6,148,439
EXPENDITURE	ON
Charitable activities
Direct Education				3,039,454			3,039,454	2,399,974
Childcare Services				722,417			722,417	843,215
Establishment Expenses				1,348,234	46,639		1,394,873	1,150,923
Support Costs				990,071			990,071	733,257
Governance costs				14,327			14,327	11,466
School pension costs				145,776			145,776	152,323
Total				6,260,279	46,639		6,306,918	5,291,158
Net gains on investments								18,278
NET INCOME				359,363		6,557	365,920	875,559
Transfers between	funds		19	850,451	(697,778)	(152,673)
Other recognised	gains/(losses)
Gains on revaluation		offixed
assets				48,923			48,923	113,070
Actuarial gains on	defined benefit
schemes				1,100,000			1,100,000	674,000
Net movement in	funds			2,358,737	(697,778)	(146,116)	1,514,843	1,662,629
RECONCILIATION		OF
FUNDS
Total funds brought	forward			8,101,119	697,778	270,809	9,069,706	7,407,077
TOTAL FUNDS CARRIED
FORWARD				10,459,856		124,693	10,584,549	9,069,706

					31.8.22	31.8.21
		Unrestricted	Restricted	Endowment	Total	Total
		fund	funds	fund	funds	funds
	Notes
FIXEDASSETS
Tangible assets	12	7,230,845			7,230,845	7,077,518
Investments	13	(11,776)		124,693	112,917	124,693
		7,219,069		124,693	7,343,762	7,202,2I I
CURRENT ASSETS
Debtors	14	139,700			139,700	236,720
Cash at bank		3,607,442			3,607,442	3,528,945
		3,747,142			3,747,142	3,765,665
CREDITORS
Amounts falling due within one
year	15	(254,355)			(254,355)	(439,349)
NET CURRENT ASSETS		3,492,787			3,492,787	3,326,316
TOTAL ASSETSLESS
CURRENT LIABILITIES		10,711,856		124,693	10,836,549	10,528,527
CREDITORS
Amounts falling due after more
than one year	16					(821)
PENSION LIABILITY	20	(252,000)			(252,000)	(1,458,000 )
NET ASSETS		10,459,856		124,693	10,584,549	9,069,706
FUNDS	19
Unrestricted funds					10,459,856	8,101,119
Restricted funds						697,778
Endowment funds					124,693	270,809
TOTAL FUNDS					10,584,549	9,069,706

	f	or the Year Ended	31August 2022
			31.8.22	31.8.21
		Notes
Cash flows from operating activities
Cash generated from operations			515,504	1,481,124
Net cash provided by operating activities			515,504	1,481,124
Cash flows from investing activities
Purchase oftangible fixed assets			(771,131)	(1,099,757 )
Sale oftangible fixed assets			315,628	339,824
Sale ofsocial investments			11,939
Net cash used in investing activities			(443,564)	(759,933)
Cash flows from financing activities
Income attributable to endowment			6,557	4,640
Net cash provided by financing activities			6,557	4,640
Change in cash and cash equivalents	in the
reporting period			78,497	725,831
Cash and cash equivalents at the beginning
ofthe reporting period			3,528,945	2,803,114
Cash and cash equivalents at the end	ofthe
reporting period			3,607,442	3,528,945

			Notes to the Cash Flow Statement for the Year Ended 31August 2022	Notes to the Cash Flow Statement for the Year Ended 31August 2022	Notes to the Cash Flow Statement for the Year Ended 31August 2022	Notes to the Cash Flow Statement for the Year Ended 31August 2022	Notes to the Cash Flow Statement for the Year Ended 31August 2022
	RECONCILIATION		OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
						31.8.22	31.8.21
	Net income for the	reporting		period (as per the Statement ofFinancial
	Activities)					365,920	875,559
	Adjustments for:
	Depreciation charges					351,097	289,912
	Gain on investments					(11,939)	(18,278)
	Income attributable	to	endowment			(6,557)	(4,640)
	Pension scheme adjustments					(106,000)	53,000
	Decrease/(increase)	in	debtors			108,794	(83,242)
	(Decrease)/increase	in	creditors			(185,811)	368,813
	Net cash provided	by	operations			515,504	1,481,124
2.	ANALYSIS OF CHANGES			IN NET FUNDS
				At	1.9.21	Cash flow	At 31.8.22
	Net cash
	Cash at bank			3,528,945		78,497	3,607,442
				3,528,945		78,497	3,607,442
	Debt
	Finance leases				(4,107)	3,286	(821)
					(4,107)	3,286	(821)
	Total			3,524,838		81,783	3,606,621

						31.8.22	31.8.21
Rents received						2,497	11,549
income from	investments					6,845	4,640
						9,342	16,189
INCOME FROM CHARITABLE ACTIVITIES
						31.8.22	31.8.21
			Activity
School fees			Direct Education			6,449,267	5,953,781
Contribution	to school trips		Direct Education			81
Pupil premium			Direct Education			32,388	45,414
Grants			Direct Education			161,681	100,732
						6,643,417	6,099,927
CHARITABLE ACTIVITIES			COSTS
						Support
					Direct	costs (see
					Costs	note 7)	Totals
Direct Education					2,654,953	384,501	3,039,454
Childcare Services						722,417	722,417
Establishment		Expenses				1,394,873	1,394,873
Support Costs						990,071	990,071
Governance	costs					14,327	14,327
School pension		costs				145,776	145,776
					2,654,953	3,651,965	6,306,918
						Governance
SUPPORT	COSTS
					Charitable
					activities
					(excluding
				Human	other
			Management	resources	costs)	costs	Totals
Direct Education					384,501		384,501
Childcare Services			471,436	250,981			722,417
Establishment		Expenses		409,878	984,995		1,394,873
Support Costs			24	399,935	590,112		990,071
Governance	costs					14,327	14,327
School pension		costs		134,000		11,776	145,776
			471,460	1,194,794	1,959,608	26,103	3,651,965

		31.8.22	31.8.21
Auditors' remuneration		9,571	10,506
Auditors' remuneration	for non audit work	4,756	960
Depreciation - owned	assets	351,099	289,913
Hire ofplant and machinery		664	664

				31.8.22	31.8.21
Wages and	salaries			3,987,608	3,672,808
Other pension costs				134,000	152,323
				4,121,608	3,825,131
The average monthly		number ofemployees	during the year was as follows:
				31.8.22	31.8.21
Teaching,	including	Teaching Assistants		52	50
Childcare,	Care home &Clinical services			28	30
Administration and		finance		12	12
Establishment				19	15
					107

The num	ber ofemployees whose employee benefits (ex	cluding employer pension costs) exceeded f60,	000was:
		31.8.22	31.8.21
f.60,001	—670,000	1	1
670,001	- 680,000	1
f.80,001	- 690,000
f90,001	- 6100,000

COMPARATIVES FOR THE STATEMENT OF FINANCIAL	COMPARATIVES FOR THE STATEMENT OF FINANCIAL	ACTIVITIES
	Unrestricted	Restricted	Endowment	Total
	fund	funds	fund	funds
INCOME AND ENDOWMENTS FROM
Charitable activities
Direct Education	6,099,927			6,099,927
Investment income	11,549		4,640	16,189
Other income	32,323			32,323
Total	6,143,799		4,640	6,148,439
EXPENDITURE ON
Charitable activities
Direct Education	2,399,974			2,399,974
Childcare Services	843,215			843,215
Establishment Expenses	1,130,909	20,014		1,150,923
Support Costs	733,257			733,257
Governance costs	11,466			11,466
School pension costs	152,323			152,323
Total	5,271,144	20,014		5,291,158
Net gains on investments			18,278	18,278
NET INCOME/(EXPENDITURE)	872,655	(20,014)	22,918	875,559
Transfers between funds	(6,557 )		6,557
Other recognised gains/(losses)
Gains on revaluation offixed assets	113,070			113,070
Actuarial gains on defined benefit schemes	674,000			674,000
Net movement in funds	1,653,168	(20,014)	29,475	1,662,629
RECONCILIATION OF FUNDS
Total funds brought forward	6,447,951	717,792	241,334	7,407,077
TOTAL FUNDS CARRIED FORWARD	8,101,1I9	697,778	270,809	9,069,706

TANGIBLE FIXEDASSE	TS
			Fixtures
	Freehold	Plant and	and	Motor
	property	machinery	fittings	vehicles	Totals
COST
At 1 September 2021	8,699,571	1,071,451	368,559	95,255	10,234,836
Additions	285,116	112,002	374,013		771,131
Dispo sais	(325,802)	(78,405)	(43,934)		(448,141)
At 31 August 2022	8,658,885	1,105,048	698,638	95,255	10,557,826
DEPRECIATION
At 1 September 2021	2,343,776	619,808	145,773	47,961	3,157,318
Charge for year	168,443	126,917	43,387	12,352	351,099
Eliminated on disposal	(86,487)	(68,446)	(26,503)		(181,436)
At 31 August 2022	2,425,732	678,279	162,657	60,313	3,326,981
NET BOOKVALUE
At 31 August 2022	6,233,153	426,769	535,981	34,942	7,230,845
At 31 August 2021	6,355,795	451,643	222,786	47,294	7,077,518

			Unlisted
			investments
MARKET VALUE
At 1 September 2021			124,693
Revaluations			(11,776)
At 31 August 2022			112,917
NET BOOK VALUE
At 31 August 2022			112,917
At 31 August 2021			124,693
There were no investment	assets outside the UK.
Cost or valuation at 31 August 2022 is represented		by:

	Registered office: West Kirb Nature ofbusiness: Dormant	y Residential Scho	ol, Meols	Drive, West Kirby, Wir	ral, CH48 5DH
			Oj
	Class ofshare:		holding
	Ordinary			100
					31.8.22	31.8.21
	Aggregate capital and reserves
14.	DEBTORS
					31.8.22	31.8.21
	Amounts falling due within	one year:
	Trade debtors				36,660	73,944
	Other debtors				5,800	52,010
	Prepayments and accrued income				85,563	110,766
					128,023	236,720
	Amounts falling due after more than one year:
	Other debtors & 1 year				11,677
	Aggregate amounts				139,700	236,720
15.	CREDITORS: AMOUNTS	FALLING DUE	WITHIN	ONE YEAR
					31.8.22	31.8.21
	Hire purchase (see note 17)				821	3,286
	Trade creditors				165,295	326,063
	Other creditors				27,952	58,186
	Accruals and deferred income				60,287	51,814
					254,355	439,349

		Hire purchase	contracts
		31.8.22	31.8.21
Net obligations	repayable:
Within one year		821	3,286
Between one and five years			821
		821	4,107
		Non-cancellable	operating
		leases
		31.8.22	31.8.21
Within one year		4,592	3,286
Between one and five years		1,913	821
		6,505	4,107

MOVEMENT IN FUND	S
				Net	Transfers
				movement	between	At
			At 1.9.21	in funds	funds	31.8.22
Unrestricted funds
General fund			8,101,119	1,508,286	850,451	10,459,856
Restricted funds
Donation fund - restricted			56,864		(56,864)
Art and home economics grant fund—
Restricted			40,970		(40,970)
Wooden Spoon Fund - Restricted			6,013		(6,013)
Miss French Donation Fund - Restricted			186,601		(186,601)
Devolved Capital Formula	Grant		68,247		(68,247)
School Capital Allocation	Fund -	Restricted	147,983		(147,983)
Capital grant			137,641		(137,641)
DFC NMSS			53,459		(53,459)
			697,778		(697,778)
Endowment funds
Endowment Fund			270,809	6,557	(152,673)	124,693
TOTAL FUNDS			9,069,706	1,514,843		10,584,549
Net movement in funds, included		in the above are as follows:
			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
Unrestricted funds
General fund			6,619,642	(6,260,279)	1,148,923	1,508,286
Restricted funds
Devolved Capital Formula	Grant		8,202	(8,202)
School Capital Allocation	Fund -	Restricted	38,437	(38,437)
			46,639	(46,639)
Endowment funds
Endowment Fund			6,557			6,557
TOTAL FUNDS			6,672,838	(6,306,918)	1,148,923	1,514,843

			Net	Transfers
			movement	between	At
		At 1.9.20	in funds	funds	31.8.21
Unrestricted funds
General fund		6,447,951	1,659,725	(6,557)	8,101,119
Restricted funds
Donation fund —restricted		58,564	(1,700)		56,864
Art and home economics	grant fund—
Restricted		44,809	(3,839)		40,970
Wooden Spoon Fund - Restricted		6,173	(160)		6,013
Miss French Donation Fund - Restricted		190,753	(4,152)		186,601
Devolved Capital Formula	Grant	70,035	(1,788)		68,247
School Capital Allocation	Fund - Restricted	151,983	(4,000)		147,983
Capital grant		140,761	(3,120)		137,641
DFC NMSS		54,714	(1,255)		53,459
		717,792	(20,014)		697,778
Endowment funds
Endowment Fund		241,334	22,918	6,557	270,809
TOTALFUNDS		7,407,077	1,662,629		9,069,706

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
Unrestricted funds
General fund			6,143,799	(5,271,144 )	787,070	1,659,725
Restricted funds
Donation fund - restricted				(1,700)		(1,700)
Art and home economics		grant fund—
Restricted				(3,839)		(3,839)
Wooden Spoon Fund	—Restricted			(160)		(160)
Miss French Donation	Fund - Restricted			(4,152)		(4,152)
Devolved Capital Formula		Grant		(1,788)		(1,788)
School Capital Allocation		Fund - Restricted		(4,000)		(4,000)
Capital grant				(3,120)		(3,120)
DFC NMSS				(1,255)		(1,255)
				(20,014)		(20,014)
Endowment funds
Endowment Fund			4,640		18,278	22,918
TOTAL FUNDS			6,148,439	(5,291,158 )	805,348	1,662,629

			Net	Transfers
			movement	between	At
		At 1.9.20	in funds	funds	31.8.22
Unrestricted funds
General fund		6,447,951	3,168,011	843,894	10,459,856
Restricted funds
Donation fund —restricted		58,564	(1,700)	(56,864)
Art and home economics	grant fund-
Reshicted		44,809	(3,839)	(40,970)
Wooden Spoon Fund - Restricted		6, 173	(160)	(6,013)
Miss French Donation Fund - Restricted		190,753	(4,152)	(186,601)
Devolved Capital Formula	Grant	70,035	(1,788)	(68,247)
School Capital Allocation	Fund - Restricted	151,983	(4,000)	(147,983)
Capital grant		140,761	(3,120)	(137,641)
DFC NMSS		54,714	(1,255)	(53,459)
		717,792	(20,014)	(697,778)
Endowment funds
Endowment Fund		241,334	29,475	(146,116)	124,693
TOTAL FUNDS		7,407,077	3,177,472		10,584,549

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
Unrestricted funds
General fund		12,763,441	(11,531,423)	1,935,993	3,168,011
Restricted funds
Donation fund —restricted			(1,700)		(1,700)
Art and home economics	grant fund-
Restricted			(3,839)		(3,839)
Wooden Spoon Fund - Restricted			(160)		(160)
Miss French Donation Fund - Restricted			(4,152)		(4,152)
Devolved Capital Formula	Grant	8,202	(9,990)		(1,788)
School Capital Allocation	Fund - Restricted	38,437	(42,437)		(4,000)
Capital grant			(3,120)		(3,120)
DFC NMSS			(1,255)		(1,255)
		46,639	(66,653)		(20,014)
Endowment funds
Endowment Fund		11,197		18,278	29,475
TOTAL FUNDS		12,821,277	(11,598,076)	1,954,271	3,177,472

At the commencement ofthe financial reporting period, there we	re a number ofrestricted funds:
	2022	2021
A Capital Grant	0	137,461
B Capital Allocation	0	147,983
C Donation	0	56,864
D Art/Home Economics Grant	0	40,970
E DFC NMSS	0	53,459
F Devolved Formula Capital Grant	0	68,247
G Wooden Spoon	0	6,013
H Donation - Miss French	0	186,601
Total		697778

	2022	2021
Teacher's Pension	107,129	247,720
Stakeholder Pension	355,221	92,621
Deficit Pension Payments	240,000	100,000
	702,350	440,341

			2022	2021	2020
The actuarial	value ofassets at	31 August	5,618,000	7,667,000	7,094,000
The actuarial	value ofliabilities	at 31 August	(5,870,000 )	(9,125,000)	(9,173,000)
Produces an	actuarial deficit of		(252,000)	(1,458,000)	(2,079,000)

			Defined	benefit
			pension	plans
			31.8.22	31.8.21
Current	service cost
Interest	cost		261,000	238,000
Past service cost
Administration		costs	111,000	121,000
			372,000	359,000
Actual	rehim on plan assets		(2,841,000)	250,000

		Defined	benefit
		pension	plans
		31.8.22	31.8.21
Opening	defined benefit obligation	9,125,000	9,173,000
Interest	cost	142,000	135,000
Actuarial	losses/(gains)	(2,841,000)	250,000
Benefits	paid	(556,000)	(433,000)
		5,870,000	9,125,000

				Defined	benefit
				pension	plans
				31.8.22	31.8.21
Opening	fair value ofscheme assets			7,667,000	7,094,000
Interest	income/cost			119,000	103,000
Contributions		by employer		240,000	100,000
Administration		expenses		(111,000)	(121,000)
Benefits	paid			(556,000)	(433,000)
Return on plan assets (excluding			interest
income)				(1,741,000 )	924,000
				5,618,000	7,667,000

			Defined	benefit
			pension	plans
			31.8.22	31.8.21
Return on	plan assets (excluding	interest
income)			(1,741,000 )	924,000
Actuarial	gains/(losses)		2,841,000	(250,000)
			1,100,000	674,000

		Defined	benefit
		pension	plans
		31.8.22	31.8.21
Equity, property	A other	25.42'/0	41.25'ro
Cash		42.49'10	24.25'ro
Liability driven	investments	16.54'ro	18.25'/0
Buy in policy		15.55'ro	16.25 /o
		100.00/o	100.0010

				31.8.22	31.8.21
Discount	rate			4.20%	1.60%
Retail prices index inflation				3.50%	3.30%
Consumer	prices index inflation			3.00%	2.80%
Inflation	linked increases	in deferment		3.00%	2.80%
GMP equalisation allowance				0.50%	0.50%
Inflation	linked increases	in payment	Pre I April 2006	3.40%	3.20%
Mortality	after retirement			100%	100%
Inflation	linked increases	in payment	Post 31 March 2006	2.70%	2.60%

											2022		2021
Men										21.9	years	21.9	years
Women										24.3	years	24.3	years
Longevity	at	age	65,	for	future	pensioners	now	agreed	45:
											2022		2021
Men											23.2		23.3
Women											25.7		25.8

		for the Year Ended 3	1August 2022
			31.8.22	31.8.21
INCOME AND ENDOWMENTS
Donations and	legacies
Donations			1,405
Investment income
Rents received			2,497	11,549
Income from investments			6,845	4,640
			9,342	16,189
Charitable activities
School fees			6,449,267	5,953,781
Contribution to school trips			81
Pupil premium			32,388	45,414
Grants			161,681	100,732
			6,643,417	6,099,927
Other income
Other income			9,445	27,395
Hiring offacilities			9,229	4,928
			18,674	32,323
Total incoming	resources		6,672,838	6,148,439
EXPENDITURE
Charitable activities
Direct Education	-Wages		2,455,378	2,190,731
Direct Education	- Further	edu cation	59,267	14,552
Residential care	for pupils		18,455
Direct Education	- Equipment		58,378	182,975
Direct Education	- Activities		62,975	11,716
Playground hire			500
			2,654,953	2,399.,974
Support costs
Management
Child Care - Wages			471,436
Bad debts			24	602
			471,460	602

Detailed Statement ofFinancial Activities
for the Year Ended 31August 2022
	31.8.22	31.8.21
Management
Human resources
Wages	1,060,794	1,482,077
Pensions administration	134,000	152,323
	1,194,794	1,634,400
Charitable activities (excluding other costs)
Hire ofplant and machinery	664	664
Rates and water	129,899	82,486
Insurance	100,381	99,832
Advertising	26,013	9,869
Postage and stationery	48,179	33,940
Gardens & landscaping	19,265	15,522
Buildings &plant	656,045	236,465
Equipment &repairs	75,460	80,256
Provisions	113,726	129,491
Cleaning, laundry &hygiene	24,004	31,287
Payroll bureau	6,085	8,676
Travel	45,036	33,453
Sundries	21,530	27,326
Training	67,008	36,937
Professional fees	200,159	123,602
Subscriptions	21,707
Computer costs	53,350
Depreciation oftangible fixed assets	351,097	294,910
	1,959,608	1,244,716
Governance costs
Auditors' remuneration	9,571	10,506
Auditors' remuneration for non audit work	4,756	960
Revaluation ofCOIF	11,776
	26,103	11,466
Total resources expended	6,306,918	5,291,158
Net income before gains and losses	365,920	857,281
Realised recognised gains and losses
Net gains/(losses) on investments		18,278
Net income	365,920	875,559