2021-08-31-accounts - The Claremont Fan Court Foundation Limited

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			Page
Reference and Administrative Details of the Company,	Its Trustees	and Advisers	1-2
Trustees' Report			3- 13
Trustees' Responsibilities Statement			14
Independent Auditors' Report on the Financial Statements			15-18
Consolidated Statement of Financial Activities			19
Consolidated Balance Sheet			20
Company Balance Sheet			21
Consolidated Statement ofCash Flows			22
Notes to the Financial Statements			23-54

THE CLAREMONT FAN COURT FOUNDATION LIMITED IA Company LIM¢ by Guarantee) Andrew Sutherland Chair of Govemors Page13

			Endowment		Unrestricted	Total	Total
			funds	Restricted funds	funds	funds	funds
			2021	2021	2021	2021	2020
		Note	6	8	6	8	9
Income and endowments
from:
Donations and legacies				33,677	20,894	54,571	132,160
Chantable actiwties					15,678,071	15,678,071	13,822,393
Other trading activities					126,639	126,639	72,334
Investments			11,919	3,408	1/20	16,547	46,013
Other income					125,668	125,668	262,416
Total income and
endowments			11,919	37,085	15,952,492	16,001,496	14,355,336
Expenditure on:
Raising funds		9,10	7,292	2,085	78' 34	87,611	70,356
Chantable actiwties		12		20,247	17,377,483	17,397,730	12,765,671
Total expenditure			7,292	22,332	17,455,717	17,485,341	12,636,029
Net Income/(expenditure)
before net gains/(losses)
on investments			4,627	14,753	(1,503425)	(1,483,845)	1,519,309
Net gains/(losses)	on
investments			132,128	37,774		169,902	(19,263)
Net movement in	funds		136,755	52,527	(1,503225)	(1,313,943)	1,500,046
Reconciliation of	funds:
Total funds brought	foiward		586,354	434,952	35,453,333	36,474,639	34,974,593
Net movement in funds			136,755	52,527	(1,503425)	(1,313,943)	1,500,046
Total funds carried
forward			723,109	487,479	33,950,108	35,160,696	36,474,639

		Note		2021 6		2020f
Fitted assets
Tangible assets		17		38,608,620		37,271,072
Investments		18		1,074,119		898,268
				39,682,739		38,169,340
Current assets
Debtors		19	341,276		659,046
Cash at bank and	in hand		7,476,390		9,994,729
			7,817,666		10,653,775
Creditors amounts	falling due within one year	20	(6,837,631)		(4,786,282)
Net current assets				980,035		5,867,493
Total assets lees	current liabilities			40,662,774		44,036,833
Creditors: amounts	falling due after more than one
year		21		(5,502,078)		(7,552,194)
Total net assets				35,160,696		36,474,639
Charity funds
Endowment funds		23		723,109		586,354
Restricted funds		23		487,479		434,952
Unrestricted funds		23		33,950,108		35,453,333
Total funds				35,160,696		35,474,539

		Note		2021 6		2020f
Fixed assets
Tangible assets		17		38,608,620		37,271,072
Investments		18		1,074,121		896,270
				39,682,741		38,169,342
Current assets
Debtors		19	456,307		770,046
Cash at bank and	in hand		7,341,640		9,867,395
			7,797,947		10,637,443
Creditors amounts	falling due within one year	20	(6,825,248)		(4,777,264)
Net current assets				972,699		5,860,159
Total assets lees	current liabilities			40,655,440		44,029,501
Creditors: amounts	falling due after more than one
year		21		(5,502,078)		(7,562,194)
Total net assets				35,153,362		36,467,307
Charity funds
Endowment funds		23		723,109		566,354
Restricted funds		23		487,479		434,953
Unrestricted funds		23		33,942,774		35,446,000
Total funds				35,153,362		36,467,307

		CONSOLIDATED	CONSOLIDATED	CONSOLIDATED
			FOR THE	YEAR ENDED 31 AUGUST 2021
					Note	2021 6	2020f
Cash flows from operating	activities
Net cash provided by operating activities					26	3,687,056	1,314,937
Cash flows from investing	activities
Dividends, interests and rents from investments						16,547	46,013
Proceeds from the sale oftangible fixed		assets					100
Purchase oftangible fixed assets						(3,649,290)	(580,501)
Net cash used In investing	activities					(3,632,743)	(534,388)
Cash flows from financing	activities
Cash inflows from new borrowing							1,370,829
Repayments of borrowing						(2,406,380)	(337,902)
Repayments offinance leases						(33,163)	(46,341)
Interest paid						(133,109)	(188,526)
Net cash (used in)/provided	by financing		activities			(2,572,652)	798,060
Change in cash and cash	equivalents	in	the year			(2,518,339)	1,578,609
Cash and cash equivalents	at the beginning		ofthe year			9,994,729	8,416,120
Cash and cash equivalents	at the end	of	the year		27	7,476,390	9,994,729
The notes on pages 23 to 54 form part ofthese finanmal				statements

		Unrestricted	Total
		funds	fund.
		2021	202'
		f.
School and registration	fees	16,897,954	16,897,954
Bursanes, grants and	allowances	(1,219,883)	(1,219,883)
		15,678,071	15,678,071
		Unrestricted	Torsi
		funds	funds
		2020f	2026 f
School and registration	fees	15,699,406	15,699,406
Bursarles, grants and	allowances	(1,8TT,013)	(1,877,013)

Unrestricted	Torsi
funds	funds
2020f	2026 f
15,699,406	15,699,406
(1,8TT,013)	(1,877,013)
13,822,393	13,822,393

		Endowment	Restricted	Unrestricted	Tote
		funds	funds	funds	fund
		2021	2021	2021	202
			6	6
Income	from listed investments	11,919	3,408		15,327
Interest	receivable			1,220	1,220
		11,919	3,408	1,220	16,547
		Endowment	Restricted	Unrestricted	Toisi
		funds	funds	funds	funds
		2020f	2020f	2020f	2026 t
Income	from listed investments	15,386	4,399		19,785
Interest	receivable			26,228	26,228
		15,386	4,399	26,228	46,013

Unrestricted	Torsi
funds	funds
2020	2020
	f
282,418	282,418

9.	Expenditure	Expenditure	on raising funds	on raising funds	on raising funds
						Endowment	Restricted	Unrestricted	Total
						funds	funds	funds	fund.
						2021	2021	2021	202
						f	f	f.
	Costs of	raising	voluntaiy	income (Note 10)				55,627	55,627
	Other trading expenses			(Note	10)			22,607	22,607
	Investment management			costs	(Note 11)	7,292	2,085		9,377
						7,292	2,085	78,234	87,611
						Endowment	Restricted	Unrestricted	Total
						funds	funds	funds	funds
						2020f	2020f	2020f	2020 f
	Costs of	raising	voluntary	income (Note 10)				47,067	47,067
	Other trading expenses			(Note	10)			14,785	14,785
	Investment management			costs	(Note 11)	6,615	1,891		8,506
						6,615	1,891	61,852	70,358
10.	Expenditure		on raising funds
	Costs	of raising voluntary			income
								Unrestricted	Total
								funds	fund,
								2021	202
	Pnnting,	postage and stationery						851	851
	Advertising							1,661	1,661
	Computer	costs						6,515	6,515
	Legal and professional							2,880	2,880
	Wages and salaries							32,669	32,669
	National	insurance						4,899	4,899
	Pension	costs						6,152	6,152
								55,627	55,627

		Activities	Activities
		undertaken			Total
		directly		Support costs	funds
		2021		2021	2021
			f	f	f
Education		9,154,441		8,243,289	17,397,730
		Activitie	s
		undertaken			Tata)
		dirsccy		Support costs	funds
		2020f		2020f	2020 f
Education		8,478,585		4,287,086	12,765,671
Analysis of	direct costs
					Total
				Education	funds
				2021	2021
				f	f.
Staff costs				7,298,224	7,298,224
Teaching costs				540,910	540,910
Premises costs				251,716	251,716
Scholarships,	prizes and awards			4,717	4,717
Other costs				1,058,874	1,058,874
				9,154,441	9,154,441

			Totai
		Education	funds
		2020	2020
		6	6
Staff costs		6,712,730	6,712,730
Teaching costs		763,259	763,259
Premises costs		239,320	239,320
Scholarships,	pnzes and awards	3,732	3,732
Other costs		759,544	759,544
		6,476,565	6,476,565

				Total
			Education	funds
			2021 6	2021f
Staff costs			1,822,310	1,822,310
Governance	costs		32,624	32,624
Premises costs			5,031,905	5,031,905
Other administration		costs	703,691	703,691
~epreciation			523,118	523,118
Loan interest	payable		129,641	129,641
			8,243,289	8,243,289

				Toter
			Education	funds
			2020	2020
			6	6
Staff costs			1,647,455	1,647,455
Governance	costs		44,836	44,836
Premises costs			1,462,993	1,462,993
Other administrative		costs	396,157	396,157
~epreciation			550,175	550,175
Loss on disposal			145	145
Loan interest	payable		185,325	185,325
			4,287,086	4,287,086

				Group	Group	Company	Company
				2021	2020	2021	2020
					6		6
Wages and	salaries			7,088,803	6,489,244	7,054,473	6,524,168
Sor.ial security costs				704,532	648,445	704,532	648,445
Contribution	to defined	contnbution	pension schemes	1,370,920	1,264,668	1,370,920	1,264,668
				9,164,255	8,402,357	9,129,925	8,437,281

		Group	Group	Company	Company
		2021	2020	2021	2020
		No.	No.	No.	No.
Teaching		115	104	115	104
Academic	support			46	37
Admin and	maintenance	54	52		53
Anmfiary		20	20	20	20
		235	213	235	214

Th	e n	umber	ofemployees whose employee benefits (excluding emp	loyer pension costs) exceeded f60,000was:
				Group	Group
				2021	2020
				No.	No.
In	the	band	f60,001 - f70,000	2	1
In	the	band	f70,001 - f80,000	1	2
In	the	band	f80,001 - f90,000	2	0
In	the	band	690,001 - f100,00D
In	the	band	f100,001 - 6110,000
In	the	band	f110,001 - f120,0DD
In	the	band	f120,001 - 6130,000	0	1
In	the	band	6140,001 - 6150,000

Tangible fixed assets
Group and Company
	Freehold		Fixtures and
	property	Motor vehicles	Rttlngs	Total
	f	f	f	f
Cost or valuation
At 1 September 2020	37,517,725	251,744	2,750,647	40,520,116
Additions	4,965,908	11,605	117,620	5,095,133
Disposals	(3,284,483)			(3,284,483)
At 31 August 2021	39,199,150	263,349	2,868,267	42,330,766
Depreciation
At 1 September 2020	757,687	218,979	2,272,379	3,249,045
Charge for the year	299,089	11,092	212,937	523,118
On disposals	(50,017)			(50,017)
At 31 August 2021	1,006,759	230,071	2,485,316	3,722,146
Net book value
At 31 August 2021	38,192,391	33,278	382,951	38,608,620
At 31August 2020	36,760,039	32,765	478,268	37,271,072

	Listed
	Investments
Group
Cost or valuation
At 1 September 2020	898,268
Revaluations	175,851
At 31 August 2021	1,074,119
Net book value
At 31 August 2021	1,074,119
At 31August 2020	898,268

			Group	Group	Company	Company
			2021 f	2020 f	2021 f	2020f
Due within one year
Trade debtors			139,199	285,182	138,199	284,532
Amounts owed by group undertakings					116,031	111,652
Other debtors			12,633	84,449	12,633	84,449
Prepayments and accrued income			189,444	289,415	189,444	289,415
			341,276	659,046	456,307	770,048
Creditors: Amounts		falling due within one year
			Group	Group	Company	Company
			2021	2020	2021	2020
			f	f	f	f
Bankloans			365,302	482,892	365,302	482,892
Trade creditors			455,874	239,792	451,457	236,390
Other taxation and	social security		168,234	163,033	167,212	162,925
Obkgations under finance lease and hire purchase
contracts			30,660	33,212	30,660	33,212
Other creditors			4,253,091	2,920,487	4,252,168	2,919,499
Accruals and deferred		income	1,564,470	946,866	1,558,449	942,366
						4,777,284
			6,837,631	4,786,282	6,825,248
			Group	Group	Company	Company
			2021	2020	2021	2020
			f		f	f
Deferred income
Deferred income at the start ofthe period			41,033	99,374	41,033	99,374
Resources deferred	during the year		30,050	41,033	30,050	41,033
Amounts released	from previous penods		(41,033)	(99,374)	(41,033)	(99,374)
						41,033
Deferred income at		the end ofthe period	30,050	41,033	30,050

												Group		Group	Company	Company
												2021 f		2020f	2021 f	2020f
Bankloans											5,140,416			7,429,206	5,140,416	7,429,206
Net obligations		under			finance lease		and	hire purchase
contracts												2,118		32,729	2,118	32,729
Other creditors												359,544		100,259	359,544	100,259
																7,562,194
											5,502,078			7,562,194	5,502,078
The aggregate		amount			of liabilities		payable or		repayable	wholly		or in part more		than five years after the reporting		date is:
												Group		Group	Company	Company
												2021		2020	2021	2020
												8		f	8	f
Bank loans repayable					by instalments						3,602,032			5,395,622	3,602,032	5,395,622
The bank loan			is	secured		by way of		first legal charge			over	the freehold	property and a fixed and floating			charge over all
property and f7,912,098)		undertakings				of the	Company.		The total		bank	loan balance		owed at the	year end was f5,505,718 (2020
Interest	is charged			at	1.95'/o over the			base rate. The loan			is repayable in equal instalments				from December 2019to November
2034 At	the year			end	the	loan balance		in creditors includes f50,066 ofaccrued interest (2020:640,437)
Financial	Instruments
												Group		Group	Company	Company
												2021		2020	2021	2020
												f		f	8	f
Financial	assets
Finanmal	assets		measured			at fair value		through	income
and expenditure											1,074,119			898,268	1,074,119	898,268

				Balance at 1
				September			Gains/	Balance at 31
				2020	Income	Expenditure	(Losses)	August 2021
Unrestricted funds
Designated funds
Landscape management				200,000				200,000
Fabric maintenance	of	Heritage
Assets				400,000				400,000
				600,000				600,000
Generalfunds
General funds				12,697,766	15,825,853	(17,329,078)		11,194,541
Non-chantable trading		funds		7,334	126,639	(126,639)		7,334
Revaluation reserve				22,148,233				22,148,233
				34,853,333	15,952,492	(17,455,717)		33,350,108
Total Unrestricted	funds			35,453,333	15,952,492	(17,455,717)		33,950,108
Endowment funds
Endowment funds				586,354	11,919	(7,292)	132,128	723,109
Restricted funds
Scholarships and bursaries			fund	8,443	3,970	(3,809)	4,591	13,195
Pnzes				363,026	4,155	(2,993)	33,183	397,371
CS Bure SAFE								841
Sports & Arts				5,552				5,552
AGF Technology				99				99
AGF Heritage					28,960	(15,530)		13,430
Shane Lalani Sports	Scholarship			55,666				55,666
Shane Lalani Sports	Endeavor			867				867
GiR aid				458				458

Statement	-current year (continued)
	Balance at 1
	September			Gains/	Balance at 31
	2020	Income	Expenditure	(Losses)	August 2021
	6	6	5	5	6
	434,952	37,085	(22,332)	37,774	487,479
Total offunds	36,474,639	16,001,496	(17,485,341)	169,902	35,160,696

Statement	of funds	(continued)
Statement	of funds	- prior year
		Balance at
		1 September					Gains/	Balance at
		2019f	Incomef	Expenditure	f	Transfers in/out f	(Losses) f'	31August 2020
Unrestricted
funds
Designated	funds
Landscape
management		150,000				50,000		200,000
Fabric
maintenance	of
Heritage Assets		300,000				100,000		400,000
		450,000				150,000		600,000
General funds
General funds		11,370,397	14,162,414	(12,700,551)		(134,494)		12,697,766
Non-chantable
trading funds		6,509	121,358	(120,533)				7,334
Revaluation
reserve		22,163,739				(15,506)		22,148,233
		33,540,645	14,283,772	(12,821,084)		(150,000)		34,853,333
Total Unrestricted
funds		33,990,645	14,283,772	(12,821,084)				35,453,333
Endowment	funds
Endowment	funds	592,563	15,386	(6,615)			(14,980)	586,354
Restricted funds
Scholarships	and
bursanes fund		8,658	1,220	(915)			(520)	8,443

			Balance at
		1 September						Gains/	Balance at
			2019f	Incomef	Expenditure f	Transfers	ln/out f	(Losses) f	31August 2020 f
Prizes			364,581	4,738	(2,530)			(3,763)	363,026
CS Bure SAFE			841	30	(30)				841
Sports	& Arts		5,552						5,552
AGF Technology			99						99
AGF Heritage				2,707	(2,707)
Shane	Lalani
Sports	Scholarship		10,354	47,027	(1,715)				55,666
Shane	Lalant
Sports	Endeavor		1,300		(433)				887
GIR aid				458					458
			391,385	56,180	(8,330)			(4,283)	434,952
			34,974,593	14,355,338	(12,836,029)			(19,263)	36,474,639
Summary offunds
Summary offunds		-	current year
				Balance at 1
				September				Gains)	Balance at 31
				2020	Income	Expenditure		(Losses)	August2021
								6
Designated funds				600,000					600,000
General	funds			34,853,333	15,952,492	(17,455,717)			33,350,108
Endowment funds				586,354	11,919		(7,292)	132,128	723,109
Restricted funds				434,952	37,085	(22,332)		37,774	487,479
				36,474,639	16,001,496	(17,485,341)		169,902	35,160,696

		Balance at
		1 September				Gains/	Balance at
		2019f	Incomef	Expendituref	Transfers in/out 8	(Losses) 6	31August 2020 6
Designated	funds	450,000			150,000		600,000
General funds		33,540,645	14,283,772	(12,821,084)	(150,000)		34,853,333
Endowment	funds	592,563	15,386	(6,615)		(14,980)	586,354
Restricted	funds	391,385	56,180	(8,330)		(4,283)	434,952
		34,974,593	14,355,338	(12,836,029)		(19,263)	36,474,639

				Endowment	Restricted	Unrestricted	Total
				funds	funds	funds	fund.
				2021	2021	2021	2021
				6	6	6
Tangible	fixed	assets				38,608,620	38,608,620
Fixed asset investments				723,109	351,010		1,074,119
Current	assets				136,469	7,681,197	7,817,666
Creditors	due	within one year				(6,837,631)	(6,837,631)
Creditors	due	in more than one year				(5,502,078)	(5,502,078)
Total				723,109	487,479	33,950,108	35,160,696
Analysis of		net assets between funds	- prior year
				Endowment	Restricted	Unrestncted	Total
				funds	funds	funds	funds
				2020	2020	2020	202(
				E	5	5	f
Tangible	fixed	assets				37,271,072	37,271,072
Fixed asset investments				585,354	311,914		898,268
Current	assets				123,038	10,530, 737	10,653,775
Creditom	due	within one year				(4,785,282)	(4,785,282)
Creditors	due	in more than one year				(7,562,194)	(7,552,194)
Total				585,354	434,952	35,453,333	36,474,539

											Group	Group
											2021 f	2020f
											(1313943	1,500,046
	Net income/expenditure					for the year (as per Statement of Finanaal		Activities)			)
	AdJustments for:
	Depreciation charges										523,118	550,175
	Gains on	investments									(175,851)	7,984
	Dividends,	interests		and		rents from	investments				(16,547)	(46,013)
	Loss on disposal offixed assets										3,234,466	145
	(Increase)/decrease			in	debtors						317,770	(173,076)
	Increase/(decrease)			in	creditors						984,934	(712,850)
	Interest paid										133,109	188,526
	Net cash	provided		by	operating		activities				3,687,056	1,314,937
27.	Analysis	ofcash	and		cash equivalents
											Group	Group
											2021	2020
											f	f
	Cash and	bankin	hand								7,476,390	9,994,729
28.	Analysis	ofchanges			ln net debt
									At	1
									September			At 31August
									2020		Cash flows	2021
										f	f	f
	Cash at bank and		in	hand					9,994,729		(2,518,339)	7,476,390
	Debt due	within 1 year							(482,892)		117,590	(365,302)
	Debt due	after I year							(7,429,206)		2,288,790	(5,140,416)
	Finance leases								(65,941)		33,164	(32,777)
									2,016,690		(78,795)	1,937,895