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2021-08-31-accounts

Page
Governors'report 7-7
lndependentauditor's report 8-10
Statement of financial activities 17
Balancesheet 72
Statement ofcashflows 13
Notesto the financial statements 14-25

Unrestricted Un.estricted Total Unrestricted Unrestricted Unrestricted Unrestricted Total
funds funds funds funds
general designated general designated
202t 2021 2021 2020 2020 2020
Notes € € f f C €
lncome and endowmentsfrom:
Charitableactivities 3 1,430,52L t,430,527 7,359,562 7,359,562
lnvestments 4 56,446 56,446 59,795 59,795
Otherincome 5 t3,737 t3,737 29,574 29,574
Total income t,500,704 r,500,704L,448,937 7,448,93r
Expenditure on:
Charitable activities 6 1,351,483 58,305 r,409,788L,363,394 51,667 1,4L5,06r
Netgains/(losses)on
investments l1 150,000
150,000
Netincomingresources
before transfers		 749,227 91,695 240,9L6 85,537
(51,667)		 33,870
Grosstransfers between
funds (7,609) 7,609 142,059l'42,059
Net incomefortheyear/
Netmovementinfunds 74t,612 99,304 240,9L6 43,478 (9,608) 33,870
Fund balancesat1
September2020 380,5492,324,757 2,705,300 337,071, 2,334,359 2,677,430
Fundbalances at31AuBust
202t 522,t6r2,424,055 2,946,216 380,549 2,324,75t 2,705,300
: : :

202L 2020
Notes E f f €
Fixed assets
Tangible assets L2 L,339,426 7,390,L22
lnvestment properties 13 2,050,000 1,900,000
3,389,426 3,290,722
Currentassets
Debtors t4 346,5t2 420,850
Cashatbankandin hand 454,743 181,585
801,255 602,s4s
Creditors: amountsfallingduewithinoneyear
16		 (954,465) (877,3671
Net current liabilities (153,210) 1274,8221
Totalassetslesscurrent liabilities 3,236,276 3,015,300
Creditors: amountsfallingdueaftermorethan
oneyear L7 (290,000) (310,000)
Netassets 2,946,216 2,705,300
Incomefunds
Unrestricted funds
Designatedfunds 18 2,424,055 2,324,75L
GeneraIunrestrictedfunds 522,L67 380,549
2,946,276 2,705,300
2,946,2L6 2,705,300
Thefinancial statements were approvedbytheGovernorson19August2022
RMay N Shah
Trustee Trustee
Company RegistrationNo. 0115t1455

202t 2020
Notes f f € C
Cashflowsfromoperatingactivities
Cashgenerated from/(absorbedby)operations 22 244,227 (110,03s)
lnvestingactivities
Purchaseof tangible fixedassets (7,609) (42,0s9)
Rentalincome and interestreceived 56,446 59,795
Net cashgeneratedfrominvestingactivities 48,837 77,736
Financingactivities
Repaymentofbankloans (20,000) (20,000)
Netcashusedinfinancingactivities (20,000) (20,000)
Net increase/(decrease)in cashandcashequivalents 273,058 (1]-2,2991
Cashand cashequivalents at beginningofyear 181,685 293,984
Cashandcashequivalents at end ofyear 454,743 181,685
:

202L 2020
f E
School feesreceivable t,294,704 7,237,564
Residentialandclasstrips 34,770 4,2s3
Other income 5,776 2,370
Lunches andoutings s3,338 49,709
Feesfromactivities 34,353 55,266
Registration fees 8,300 10,400
7,430,52r 1,359,552
:

4 lnvestments
Unrestricted Unrestricted
funds funds
general general
202L 2020
f f
Rentalincome 56,420 59,735
lnterestreceivable 26 60
56,446 59,795
:
5 Otherincome
Unrestricted Unrestricted
funds funds
general general
202L 2020
f f
GovernmentGrants t3,737 29,574
6 Charitableactivities
Teaching Teaching
202L 2020
f E
Staff costs 947,735 915,598
Depreciation andimpairment 58,305 5L,667
Teaching 67,879 49,060
Lunches andwelfare 33,67r 53,65s
Premises 91,957 93,889
t,187,5471,163,869
Shareof supportcosts (seenote7) 2L2,OO7 24L,074
Shareofgovernancecosts (seenote7) L0,240 10,118
7,409,788 t,4t5,o6t
: :
Analysisbyfund
Unrestricted funds-general 1,351,483 L,353,394
Unrestricted funds-designated 58,305 57,667
1,409,788 L,4L5,O6L
: :

7 Supportcosts
Support costs Governance 2O2lSupportcosts Governance 2020
costs costs
f € f f f E
Staff costs 159,358 159,358 178,43t L78,437
Accountancy and book-
keeping 1,270 1,270 2,318 2,3L8
Othercosts 44,8L2 44,8L2 51,934 51,934
Mortgageexpenses 7,831 7,831 10;709 L0,709
Auditfees 8,970 8,970 7,800 7,800
2I2,OOL L0,240 222,247 24t,074 10,118 257,L92
: :
Analysed between
Charitable activities 2L2,OOL L0,240 222,247 24L,074 10,118 251,192
: :
8 Netmovementinfunds 202L 2020
C c
Net movementinfundsisstatedafter charging;
Feespayableto thecompany's auditor fortheauditofthecompany's financial statements 8,970 7,800
Feespayableto thecompany'sauditorfor other services t,270 .2,318
Depreciation of owned tangible fixedassets JI: 5t,667

202t 2020
Number Number
Teachingstaff-fulltimeequivalent 15 t2
Ancillarystaff L2 t2
Total 27 24
Employmentaosts 202L 2020
f €
Wages andsalaries 857,226 859,705
Socialsecuritycosts 88,2r3 81,595
Other pensioncosts L52,12t L48,404
L,097,560 1,089,706
Thenumber of employees whose annual remunerationwasf60,000 ormore were:
2021 2020
Number Number
f6o,ooo-f69,999 2 2
:
Unrestricted Total
funds
designated
2021 2020
f €
Revaluation ofinvestment properties 150,000

12 Tangiblefixedassets
landand Furniture, Total
buildings fixturesand
(freehold) fittings
f E €
Cost
At1September2020 1,500,753 238,045 1,738,808
Additions 7,609 7,609
At31August2021 1,500,763 245,654 L,746,4t7
Depreciation andimpairment
At1September2020 297,757 50,929 348,686
Depreciationcharged inthe year 10,005 48,300 58,305
At31August2021 307,752 99,229 406,991
Carryingamount
At31August2021 1,193,001746,425 r,339,426
At31August2020 1,203,006 787,7L6 7,390,722

lnvestment property
202L
C
Fairvalue
At1September2020 1,900,000
Net gainsthrough fair value adjustments 1s0,000
At31August2021 2,050,000

14 Debtors
202L 2020
Amountsfallingduewithinone year: f E
Tradedebtors 342,L45 409,934
Other debtors 3,733
Prepayments andaccruedincome 4,367 7,793
346,5r2 420,860
15 Loansand overdrafts
202r 2020
f f
Bank loans 310,000 330,000
:
Payablewithinone year 20,000 20,000
Payableafteroneyear 290,000 310,000
Thebank loanrelatestoa mortgagewhichissecuredagainsttwoinvestment propertieswith an interestrateof2.35%over
LIBOR.
16 Creditors: amountsfallingduewithinone year
2021 2020
Notes f f
Bank loans 15 20,000 20,000
Deferred income 492,46L 457,996
Tradecreditors 5,468 3,694
Deposits 391,331 382,L34
Other creditors 37,405 2,064
Accruals 7,800 11,479
954,465 877,367
:

Creditors: amountsfallingdueaftermoreth anoneyear
202L 2020
Notes € f
Bank loans 15 290,000 310,000
:

Balanceat Resources Resources TransfersBalanceat TransfersBalanceat Resources TransfersRevaluations, TransfersRevaluations, Balanceat
lSeptember expended 1September expended gains and 31August
2019 2020 losses 202L
€ € ff C ff C
Fixedassetfund 7,399,730 15L,6671 42,059L,390,L22(58,305) 7,609 1,339,426
lnvestment
property
reserve 934,629 934,529 150,000 1,084,629
2,334,359 (5L,667) 42,0592,324,75r(58,305) 7,609150,000 2,424,055
:
Analysisofnetassetsbetwe enfunds
Generalfund Designated Total Generalfund Designated Total
funds funds
2021 202t 202L 2020 2020 2020
f E C E f f
Fund balancesat31
August2021 are
representedby:
Tangible assets L,339,425 7,339,426 L,390,722 r,390,L22
lnvestment properties 965,377 r,084,629 2,050,000 965,371 934,629 1,900,000
Current assets/(liabilities) (1s3,210) (1s3,210) (274,822l' (274,8221
Longterm liabilities (290,000) (290,000) (310,000) (310,000)
522,161 2,424,055 2,946,2L5 380,549 2,324,751 2,705,300
: : : : :

202t 2020
C f
OAdebola-Lawal IO,L77 9,701
AShah L9,397
lWahid 9,150
STharoo 18,920
KPatel 16,387
PMehta 10,035
55,519 38,258
: :
22 Cashgeneratedfromoperations 202L 2020
e €
Surplusfor the year 240,916 33,870
Adjustmentsfor:
lnvestment incomerecognised instatementoffinancial activities (s6,4461 (59,795)
Fairvalue gainsandlosseson investment properties (150,000)
Depreciation and impairmentoftangible fixedassets 58,305 5L,657
Movementsinworking capital:
Decrease/(increase)indebtors 74,348 (81,768)
lncrease/(decrease)increditors 42,633 (47,3841
lncrease/(decrease)indeferred income 34,465 (6,62s)
Cashgeneratedfrom/(absorbedby)operations 244,22L (110,03s)
23 Analysisofchangesin netfunds/(debt)
At1September CashflowsAt 31August 2021
2020
f f f
Cashatbankand inhand 181,685 273,058 454,743
Loansfallingduewithinone year (2o,ooo) (20,000)
Loansfalling dueaftermorethan one year (31o,ooo) 20,000 (290,000)
148,315) 293,058 144,743