| ITTIDEX | |
|---|---|
| Governors' Report | 3-8 |
| lndependentAudito/sReport | 9-L2 |
| Statement ofFinancialActivities | 13 |
| BalanceSheet | t4 |
| Statement ofCashFlows | 15 |
| Notesto theFinancialStatements | 16-27 |
| Keyexecutives and prof | essional advisers |
|---|---|
| Headmaster: | N Close |
| Bursar/Secretary: | PFlowerday |
| Bankers: | National WestminsterBank,The Boulevard, Crawley,RH10 1XU |
| CCLA,Senator House, 85 QueenVictoria Street,London,EC4V4ET | |
| Auditors | KrestonReevesLLP,SpringfieldHouse,SpringfieldRoad, Horsham,RHL22RG |
| Solicitors | VealeWasbroughVizardsLLP,NarrowQuay House,NarrowQuay,Bristol,BS14QA |
| DMHStallardLLP,3rd Floor,OriginOne, 108 HighStreet,Crawley,RH10 1BD |
3 January 2023
| Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2021, | ||
| Notes | E | E | C | € | |
| INCOME FROM: | |||||
| Charitable activities | 3 | 3,44O,727 | 3,aao,t27 | 3,817,378 | |
| Othertrading activities | 4 | 79,O97 | 79,09L | 1,44,OOO | |
| lnvestments | 5 | 1,399 | 1,399 | 381 | |
| Total income | 3,960,617 | 3,960,617 | 3,961,759 | ||
| EXPENDITUREON: | |||||
| Raisingfunds | 30,376 | to,r76 | 53,867 | ||
| Charitable activities | 4,245,364 | 4,245,3U | 4,723,476 | ||
| Totalexpenditure | 7 | 4,275,740 | 4,275,7q | 4,777,343 | |
| NET INCOMC | (31s,123) | (315,1231 | .27s,s84| | ||
| Transfer between funds | 56,114 | (56,114) | |||
| Net movementinfunds | (2s9,009) | (s6,114) | (315,123) | (21s,s84) | |
| RECONdUANONOF FUNDS: | |||||
| Fund balancesat1'tSeptember2021 | 3,367,065 | 56,LL4 | 3,423,L79 | 3,538,763 | |
| FUNDBATANCESat31nAugust 2022 | 3,r.08,056 | 3,108,055 | 3,423,179 |
| Notes | 2022 | 20Lt | |||
|---|---|---|---|---|---|
| f | e | e | € | ||
| FIXED ASSETS | |||||
| Tangibleassets | 10 | 2,967,899 | 2,374,697 | ||
| CURRENT ASSETS | |||||
| Stocks-finishedgoods | 44,962 | ||||
| Debtors | 12 | 146,585 | 193,3s6 | ||
| Cashatbank and in hand | 1,,52t,840 | L,697.064 | |||
| t,664,425 | 1,935,382 | ||||
| CREDITORS:duewithinoneyear: | 13 | (7,O32,9641 | 1815,722]. | ||
| Netcurrentassets | 635,461 | 1,119,660 | |||
| Totalassets lesscurrent liabilities | 3,603,360 | 3,494,357 | |||
| CREDITORS:due after more thanoneyear: | t4 | (49s,304) | (77,778l, | ||
| TOTATT{ETAsSETs | 3,108,056 | 3,423,179 | |||
| FUNDS | |||||
| Unrestricted funds | 15 | 3,108,056 | 3,367,06s | ||
| Restrictedfunds | 15 | 56,114 | |||
| TOTAT CHARITY FUNDS | 3,108,056 | 3,423,L79 |
| 20.22 | 2021 | 2021 | ||
|---|---|---|---|---|
| t | t | € | f | |
| Netcashflow from operating activities | L70,517 | 97,88t | ||
| Cashflow frominvestlngactivities | ||||
| lnterest incomereceived | 1,399 | 381 | ||
| Purchase oftangible fixedassets | (815,393) | (231,928 | ||
| Disposaloftangiblefixedassets | 9,000 | 7,72L | ||
| Netcashflow frominvestlngactivities | (80s,994) | .224,4261 | ||
| Cashflow fromfinancingactivities | ||||
| Receiptofloan | 500,000 | |||
| Repaymentofloan | (33,337) | |||
| PaymentofIoaninterest | (6,410) | |||
| Netcashflow fromfinancingactivities | 4@,253 | |||
| Netcashflow | l.775,2241 | 1726,s45) | ||
| CashandcashequivalentsatL'tSeptember | 7,697,64 | 1,823,609 | ||
| Cashand cashequivalents at 31* August | 1,521,840 | !,697,064 | ||
| RECONCILIATIONOFNETMOVEMENT IN FUNDSTONET | CASHFLOW | FROM OPERANNG ACNVITIES | ||
| 2022 | 2021 | |||
| f | f | |||
| Netexpenditureforthe year | (31s,123) | (21s,s84) | ||
| (asperStatementofFinancialActivities) | ||||
| Adjustmentfor: | ||||
| Depreciationcharges | 223,r97 | 798,332 | ||
| Loaninterest | 6,410 | |||
| Profit ondisposal offixedassets | (9,000) | (2,18s) | ||
| lnvestment income | (1,399) | (381) | ||
| (lncrease)/decreasein stocks | 144,9621 | (20,841) | ||
| (lncrease)/decreaseindebtors | 146,77L) | (se.sso) | ||
| lncrease/(decrease) in creditors | 174,705 | 198,130 | ||
| lncrease/(decrease) incashprovidedbyoperatingactivities | ,70,517 | 97,881 | ||
| The notesonpages16to27formpartoftheseFinancialStatements |
| INCOMEFROM CHARITABLE ACTIVITIES | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | TotaI | Total | |
| Funds | Funds | Funds | Funds | |
| 2022 | 2022 | 2022 | 202t | |
| € | f | f | E | |
| Grossfees | 3,943,379 | 3,943,379 | 4,OO4,703 | |
| Less: bursaries, scholarships andallowances | (313,369) | (313,369) | (386,076) | |
| Add: otherchargestopupils | 243,717 | 243,71,7 | 191,1-63 | |
| Registration fees | 6,4@ | 6,400 | 7,544 | |
| 3,480,127 | 3,480,127 | 3,817,374 |
| OTHERTRADII{GACTIVITIES | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | TotaI | Total | |
| Funds | Funds | Funds | Funds | |
| 2022 | 2022 | 20i82 | 2027 | |
| f | E | E | € | |
| Rentand lettings | s4866 | s4855 | 27,982 | |
| Sundryincome | L5,225 | 15,22s | 52,437 | |
| Profiton saleofassets | 9,000 | 9,000 | ||
| Coronavirusiob retentionscheme | 63,581 | |||
| 79,O97 | 79,@1 | 144,000 |
| Unrestrided | Restricted | Total | TotaI | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| 2022 | 2022 | 2022 | 202,. | |
| f | f | f | f | |
| Bankinterest | L,399 | 1,39!' | 381 |
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| 2022 | 2022 | 2022 | 202L | |
| f | f | € | ||
| Audito/sremuneration-current year | L4,4N | 14,400 | 9,240 | |
| Auditor'sremuneration-prior year | 2,730 | |||
| Otheraccountancy costs | 4,003 | 4003 | 4,994 | |
| Othergovernancecosts | 2,780 | 2,74O | 345 | |
| 27,783 | 21,1&t | t7,309 |
| 7. | EXPENDITURC:analysisoftotalexpenditure-C | urrentyear | |||
|---|---|---|---|---|---|
| 2022 | |||||
| Charitableactivities | Staffcosts t |
Othert | Dep'n f |
Total E |
|
| Schooloperatlng costs | |||||
| Teaching | 2,174,777 | 307,632 | 37,362 | 2,5L3,7lt | |
| Welfare | L79,454 | 125,870 | 30s,124 | ||
| Premises | 166,361 | 474,974 | 191,829 | 837,tU | |
| Support | 330,318 | 237,724 | 568,042 | ||
| 2,850,850 | 7,750,t40 | 223,791 | 4,224,tBr, | ||
| Expenditureongovernance | 2L,183 | 21,L83 | |||
| Expenditure onraisingfunds | 30,376 | 30,376 | |||
| 2,850,8s0 | 1,20L,699 | 223,79t | 4,275,7N | ||
| 7. | EXPENDITURE:analysisoftotalexpenditure-Prioryear | ||||
| 2027 | |||||
| Staffcosts | Other | Dey'n | Total | ||
| Charitableactivities | E | € | f | f | |
| Schooloperatingcosts | |||||
| Teaching | 2,O84,417 | 332,529 | 31,O40 | 2,453,986 | |
| welfare | 2ro,727 | 7t4,757 | 325,478 | ||
| Premises | 183,499 | 483,485 | 76t,292 | 424,276 | |
| Support | 332,399 | 166,028 | 494,427 | ||
| 2,417,036 | L,O96,799 | 198,332 | 4,106,167 | ||
| Expenditureongovernance | 77,309 | L7,309 | |||
| Expenditure onraisingfunds | 53,867 | 5t,$7 | |||
| 2,81L,O36 | 7,767,975 | 198,332 | 4,177,34t | ||
| All expenditureinthe currentandprioryear wasunrestricted. | |||||
| 8. | NETINCOME | ||||
| Net incomeisstated aftercharging: | 2022 | 202r | |||
| f | e | ||||
| Depreciationoftangible fixedassets | 223,197 | t98,332 | |||
| Audito/sremuneration-current year | L4,4@ | 9,240 | |||
| Audito/sremuneration-prior year | 2,730 | ||||
| Audito/sremuneration-non-auditservices | 4,O03 |
| SIAFFCOSTS | ||
|---|---|---|
| 2022 | 2027 | |
| f | f | |
| wagesand salaries | 2,391,674 | 2,363,495 |
| Employe/sNl costs | 225,400 | 2L3,749 |
| Pensioncontributions | 233,772 | 233,796 |
| 2,85O,85O | 2,8L1,,O3s | |
| 2022 | 202L | |
| Averagenumber of monthly employeesinthe year | Number | Number |
| Teaching andteaching support | 56 | 61 |
| Administration, domesticandmaintenancestaff | 35 | 35 |
| 91 | 96 |
| Thenumberof employeeswhoreceivedtotalemployee f60,000is asfollows: |
benefits(excludingemployerpensioncosts)of | morethan |
|---|---|---|
| 2022 | 2021 | |
| EE | ||
| f70,001-€80,000 | t | |
| €80,001-€90,000 | 1 | |
| fr.r.0,001-€120,000 | 1 | |
| €140,OO1 -€150,000 | 1 |
| TANGIBTEFIXED ASSETS | |||||||
|---|---|---|---|---|---|---|---|
| Freehold | Plant& | Fixtures, | Motot | Ass€tsunder | |||
| property | Machin€ry | fittings&lT | vehlcl€s | constructon | Total | ||
| f | f | € | I | f | f | ||
| Cost | |||||||
| At 1* September2021 | 3,688,536 | 130,766 | 526,777 | 172,637 | !32,139 | 4,6s0,855 | |
| Additions | 689,095 | 80,931 | 6,467 | 39,900 | 816,393 | ||
| Disposals | (31,488) | (31,488) | |||||
| Transfers | 132,t39 | (r.32,139) | |||||
| At31'tAuBUst2022 | 4,509,770217,697533,2M | t4r,L49 | 39,900 | 5,435,760 | |||
| Depreciation | |||||||
| At1'tSeptember2021 | L,735,947 | 53,139 | 336,173 | 150,899 | 2,276,1,58 | ||
| Chargefor theyear | r15,326 | 31,325 | 67,065 | 9,475 | 223,191 | ||
| Disposals | (31,488) | (3r.,488) | |||||
| At 31"August2022 | L,85L,273U,464 | 403,238 | 128,886 | 2,467,a67 | |||
| NetBookvalue | |||||||
| At31nAugust 2022 | 2,658,497127,2t3 130,005 | L2,26t | 39,9qt | 2,967,899 | |||
| At31'tAusust2021 | 1,952,58977,627 190,604 | 2L,738132,138 | 2,374,697 |
| DEBTORS | ||
|---|---|---|
| 2022 | 2027 | |
| E | f | |
| Tradedebtors | 13,545 | 24,89! |
| Other debtors | L6,879 | 11,631 |
| Prepayments | LL6,16L | L52,834 |
| 1115,585 | 193,356 |
| CREDITORS: FALUT{GOUEWrrHlNONE YEAR | ||
|---|---|---|
| 2022 | 2027 | |
| E | E | |
| Tradecreditors | 42,772 | 68,579 |
| Pensionliability | 32 | |
| Acffualsandothercreditors | 124,640 | 14,62L |
| Feesreceived in advance anddepositsheld | 801,932 | 732,490 |
| Bank loan | 59,520 | |
| ,,,o32,9 | 815,722 | |
| CREDITORS: FALLING DUE MORETHANONE YEAR | ||
| 2022 | 202L | |
| E | e | |
| Pensionliability(seenote19) | 57,574 | 7L,r78 |
| Bank loan | 407,U3 | |
| Feesreceived in advance | 30,687 | |
| 495,304 | 77,778 | |
| Reconciliationof movementindeferredincome during theyear | ||
| 2022 | 2021 | |
| € | E | |
| Beginningof theyear | s86,232 | 46t,O94 |
| Releasedto the statement of financial activities | (s86,232) | (46t,@41 |
| Received inthe year | 70s,369 | 546,232 |
| Endoftheyear | 705,369 | 586,232 |
| Deferred incomerelatestofees received in advance. | ||
| Bankloan | ||
| 2022 | 2021, | |
| f | f | |
| Duewithinlyear | 59,620 | |
| Repayablein1-2years | s9,620 | |
| Repayable in 2-5 years | 178,86L | |
| Due in5+years | 168,562 | |
| Endoftheyear | M,6l |
| FUNDSMOVEMENT-cur | entyear | ||||
|---|---|---|---|---|---|
| LSeptember | 3lAutust | ||||
| 202L | lncome | Expenditure | Transfers | 20x2 | |
| € | E | f | € | e | |
| Restrictedfunds | 56,114 | (s6,114) | |||
| Unr€stricted funds | 3,366,809 | 3,960,617 | (4,275,740) | 56,LL4 | 3,108,0s5 |
| 3,422,923 | 3,960,677 | 14,275,7401 | 3,108,056 |
| FUNDSMOVEMENT-prior | year | ||||
|---|---|---|---|---|---|
| lSeptember | 31August | ||||
| 2020 | lncome | Expenditure | Transfers | 2021 | |
| E | E | E | € | f | |
| Restrictedfunds | 57,1,44 | (1,000) | 56,r4 | ||
| Unrestridedfunds | 3,s81,619 | 3,961,759 | 14,777,3431 | 1,000 | 3,367,03s |
| 3,638,7633,96L,759 | 14,777,3431 | 1,423,179 | |||
| FUNDS: ANALYSIS OFNET ASSETS-currentyear | |||||
| Net | 2022 | ||||
| Current | LongTerm | Fund | |||
| FixedAssets f |
Assets f |
Liabilities t |
Balancest | ||
| Restrictedfunds | |||||
| LJnrestrictedfunds | 2,967,89963s,461 | (49s,304) | 3,108,056 | ||
| 2,967,89963s,461 | (49s,304) | 3,108,056 | |||
| FUt{DS: Al,lAtYSlSOFNET ASSETS-prioryear | |||||
| Net | 202t | ||||
| Current | LongTerm | Fund | |||
| FixedAssets | Assets | Liabilities | Balances | ||
| f | f | € | f | ||
| Restrictedfunds | 25,000 | 37,774 | 56,114 | ||
| Unrestricted funds | 2,349,597 | 1,088,546 | (7L,178l | 3,367,065 | |
| 2,374,6971,119,550l7t,L78l | 3,423,119 |
| At31 Augustthe charityhadcommitmentstomakefutur operatingleasesasfollows: |
eminimumleasepayments under non-can | cellable |
|---|---|---|
| 2022 | 2021 | |
| EE | ||
| Duewithin1year Duefrom1-5years |
8,808 10,347 |
8,897 L8,L94 |
| Due in5+years | - | 976 |
| 19,155 | 24,067 |
| AtLSeptember | Othernon | At3lAutust | ||
|---|---|---|---|---|
| 202L | Cashflows | cashchanges | 2022 | |
| E | € | € | € | |
| Cashatbank andinhand | 1,,697,064 | 177s,2241 | 1,52,.,W | |
| Debtduewithin1year | 33,337 | (92,9s71. | (s9,6201 | |
| Debtdue afterlyear | (s00,000) | 92,957 | 1407,043l. | |
| 1,697,064 | (641,887) |
L,O55,t77 |