2023-08-31-accounts - The Royal Masonic School For Girls

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Governors
The governing	body members	are listed below including	the changes that have arisen since		1 September 2021.
		ppointed		Resigned
ProfJ Brewer (Chair)				11 Mar 2022
Mr M Brain		29June 2023		2 Oct 2023
Mr S Brew
Ms S Brophy				29June 2023
Mr SDetre		1 Jan 2024
Mrs P Dyke				2Sept 2023
Mr R Garvey		3Aug 2022
Mr C Head		1 Dec 2023
MrJ Knopp				7 Dec2021(d)
Mrs T Lemon
Mrs J Pardon				8 Dec 2022
Mr BSaini
Mrs SShackell
Mr SStaite (Chair)
Mrs C Shorten	Conn	20 June 2022
Mr A Wauchope
Mr I Williams
Mrs H Wilson

			Unrestricted
			funds	Restdicted	Endowment	Total	Total
		Notes	-general	funds	fund	2023	2022
INCOME FROM:
Charitable Activities
School fees			17,923,510			17,923,510	16,423,058
Other educational	income		260,649			260,649	251,008
Other income
Other trading income Other activities			299,535 626,531			299,535 626,531	239,585 389,565
Investments
Investment			122,637	24,612		147,249	34,178
Voluntary sources Donations and gifts			15,375	241,950		257,325	786,733
Total income and endowments			19,248,237	266,562		19,514,799	18,124,127
EXPENDITURE ON:
Costs ofraising funds			5,623			5,623	5,885
Charitable activities
Education		10	18,427,624	29,252		18,456,876	17,696,873
Total expenditure		10	18,433,247	29,252		18,462,499	17,702,758
Net operating income/(expenditure)			814,990	237,310		1,052,300	421,369
Lease provision release Other Profit or Loss on sale ofassets/property Net gains on investments			798,460		-	798,460 ~44,773)	~94393
Net income/(expenditure)			1,613,450	192,537		1,805,987	327,076
Transfer between funds			155847	~150847
Net movement in funds			1,764,297	41,690		1,805.987	327,076
Fund balances brought	forward		3,344,486	1,460,861	55,240	4,860,587	4533511
Fund balances carried forward		22	5,108,783	1,502,551	55,240	6,666,574	4,860,587

				Group	Group	School	School
			Notes	2023	2022	2023	2022
FIXEDASSETS
Tangible assets Investments			16 17	2,721,997 952159	1,608,832 1,001,432	2,721,997 153,281	1,608,832 165,155
				3,674,155	2,610,264	2,875,278	1,773,987
CURRENT ASSETS
Stocks			18
Debtors			19	797,787	906,839	728,429	901,862
Cash at bank and	in hand			9111,512	8,739,103	8,866,516	8544,123
				9,909,299	9,645,942	9,594,945	9,445,985
CREDITORS: Amounts		falling due within	20	(4,926,618)	(5,810,475)	(4,923,030)	(5,845,295)
one veer
NET CURRENT ASSETS				4,982,681	3,835,467	4,671,915	3,600,690
TOTAL ASSETS	LESS	CURRENT LIABILITIES		8,656,836	6,445,731	7,547,193	5,374,677
CREDITORS: Amounts		falling due after	21	(1,990,262)	(1,585,144)	(1,990,262)	(1,585,144)
more than one vear
NET ASSETS				6,666,574	4,860,587	5,556,931	3,789,533
FUNDS
Restricted funds			22	1,502,551	1,460,861	392,908	389,807
Unrestricted funds	—general		22	5,108,783	3,344,486	5,108,783	3,344,486
Endowment fund			22	55,240	55,240	55,240	55,240
				6,666,574	4,860,587	5,556,931	3,789,533

The Royal Masonic School for Girls
CONSOLIDATED CASHFLOW STATEMENT
fortheyearended 30 Au ust 2023
CASH FLOW STATEMENT	Notes	2023	2022
Net cash inflow from operating activities	28	2,180,941	2,234,531
Cash flows from investing activities:
Bank interest received		122,637	15,108
Dividends received		24,612	19,070
Interest element offinance lease rental payments		(19,572)	(4,062)
Proceeds from sale ofinvestments		206,164	100,337
Proceeds from sale offixed assets
Payments to acquire fixed assets Payments to acquire investments		(1.940,710) (199,527)	(739,455) (118,577)
Movement in investment cash		(2,136I	24,491
Net cash outflow from investing activities		~0000 032	~703000
Increase/(decrease) in cash		372,409	1,531,443
Cash and cash equivalents at the beginning ofthe reporting period		8,739„103	7,207,660
Cash and cash equivalents at the end ofthe reporting period		9,111,512	8,739,103

for th 1.10	e year ended 30August 2023 LEASES
	Rentals paid under operating leases are charged to the Statement ofFinancial Activities evenly over the pediod	ofthe lease.
1.11	CASH AND CASH EQUIVALENTS
	Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities							ofthree				months
	orless.
1.12	FINANCIAL ASSETS
	Financial assets are recognised in the company's statement offinancial position when the company becomes party to the contractual provisions of									the
	instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements,	when there is a legally		enforceable							right		to
	set offthe recognised amounts and there is an intention to settle on a net basis orto realise the asset and settle	the liability simultaneously.
	Financial assets are classified into specified categories. The classification depends on the nature and purpose ofthe financial		assets and is				determined					at
	the time ofrecognition.
	Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including
	transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the	arrangement	constitutes		a financing
	transaction, where the transaction is measured at the present value ofthe future receipts discounted at a market	rate of interest. Other		financial assets
	classified as fair value through profit or loss are measured at fair value.
	Loans and receivables
	Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market		are classified			as		'loans			and
	receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.
	Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition ofinterest		would be		immaterial.					The
	effective interest method isa method ofcalculating the amortised cost ofa debt instrument and of allocating the	interest income over the relevant							period.
	The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected	life ofthe debt instrument				to	the net				carrying
	amount on initial recognition.
	impairment offinancial assets
	Financial assets, other than those held at fair value through profit and loss, are assessed for indicators ofimpairment at each		reporting	end			date.
	Financial assets are impaired where there is objective evidence that, as a result ofone or more events that occuned after the initial recognition							of	the
	financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.
133	FINANCIAL LIABILITIES
	Basicfinancial liabilities are initially measured at transaction price, unless the arrangement constitutes a financing	transaction,	where the		debt			instrument					is
	measured atthe present value ofthe future receipts discounted at a market rate ofinterest. Other financial liabilities classified		as fair value			through				profit			or
	loss are measured at fair value.
1.14	TAXATION
	The company has no liability to corporation tax because it is a registered charity.
1.15	FUND ACCOUNTING
	Unrestricted funds can be used in accordance with the charitable objectives at the discretion ofthe Governors.
	Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when		specified		by	the		donor			orwhen
	funds are raised for particular restricted purposes.
	Further explanation ofthe nature and purpose ofeach fund is included in the notes to the financial statements.
1.16	EMPLOYEE BENEFITS
	The costs ofshort-term employee benefits are recognised as a liability and an expense.
	The cost ofany unused holiday entitlement is recognised in the period in which the employee's services are received.
	Termination benefits are recognised immediately as an expense when the company is demonstrably committed	to terminate	the employment					ofan		employee
	orto provide termination benefits.
1.17	RETIREMENT BENEFITS
	Prior to September 2022, the company contributes to two pension schemes. Contributions are charged to the Statement		of Financial				Activities					as	they
	become payable, From 1 September 2022 the School consolidated all staff contributions to one pension provider.

th	e year ended 30 Au ust 2023	e year ended 30 Au ust 2023
7	INVESTMENT INCOME
								2023	2022
								6
	Interest received							122,637	15,108
	Dividend income							24,612	19,070
								147,249	34,178
	Included within the	above is 65,504ofrestricted	dividend		income for the year ended 30August 2023 and 619,070for the year ended 30August 2022
8	DONATIONS AND	GRANTS
								2023	2022f
	Donations and gifts							248,031	767,646
	Other grants							9,294	19,087
								257,325	786,733
	Included within the	above isf161,117of restricted		donations		for the year ended 30 August 2023 and 6242,239for the year		ended 30August 2022.
9	COSTS OF RAISING FUNDS							2023	2022
								6	F
	Other expenditure	-Campaign						5,623	5,885
								5,623	5,885
0	CHARITABLE ACTIVITIES COSTS
						Staff costs			Total
						(note 12)	Other F	Depreciationf	2023
	Teaching					8,317,889	633,611		8,951,500
	Welfare					859,367	84,967		944,334
	Housekeeping Catering Costs Premises and Estates					801,146	1,865,473 2,631,138	743,416	1,865,473 4,175,700
	Finance and Administration (note 11) Governance					1,492,528	970,826 56,515		2,463,354 56,515
						11,470,930	6,242,530	743,416	18,456,876
						Staffcosts			Total
	Governance					(note 12)	Otherf	Depreciation	2022f
	Teaching Welfare					8,145,477 781,355	612,781 68,225		8,758,258 849,580
	Housekeeping Catering Costs Premises and Estates					774,494	886,454 2,984,446	537,792	886,454 4,296,732
	Finance and Administration (note 11)					1,739,267	1,130,021		2,869,288
							36,561		36,561
						11,440,593	5,718,488	537,792	17,696,873

Included within Education is F27,777of restricted grant expenditure for the year ende	d 30August 2023 and 526,079for the year ended 30 Augus	t 2022.
Other Governance Costs include:	2023	2022
Auditors' remuneration
-Audit Fees	23,599	20,040
-under provision from previous year -Accountancy Fees	11,390 3,265	5,685 2,995
-Other	9,369
Governance costs	8,892	7,841

rth	e earended 30Au ust2023	e earended 30Au ust2023	e earended 30Au ust2023	e earended 30Au ust2023	e earended 30Au ust2023
11	FINANCE AND ADMINISTRATION Finance and Administration Other includes:									2023 6	2022f
	ITand telecommunications			costs						213,861	218,376
	HR consultancy and payroll			fees						114,494	191,824
	Legal and professional	fees								79,166	104,058
	Marketing &advertising									216,343	147,992
	Postage &stationery									170,741	158,304
	Other costs									176,221	309,467
										970,826	1,130,021
12	STAFF COSTS									2023	2022
										6
	Wages and salaries									9,292,157	9,098,877
	Redundancy and settlement			costs						31,538	25,238
	Social security costs									919,195	911,162
	Other pension costs									1,154,920	1,383,702
	Other staff costs									73,120	21,614
										11470030	114405113
	During the year, settlement			payments	were	made for two		individuals	for a total off31,538 (2022:f25,238 for two individuals)
	The average monthly	number ofemployees				during the year was as			follows:
										2023	2022
										No.	No.
	Teaching									108	129
	Teaching Support									44	52
	School Support									91	153
										243	334
	The number ofemployees		whose emoluments				amounted	to
	over
	860,000 in the year was as			follows:						2023	2022
										No.	No.
	F60,000 - F70,000									9	6
	670,001 - F80,000									5	5
	880,001 - 890,000 f90,001 - L'100,000									1	1
	6100,001 - F110,000
	F110,001 - F120,000
	F120,001 - 8130,000
	F131,001 - 5140,000
	5140,001 - F150,000
	f180,001 -6190,000
											15

or th	e ear ended 30 Au ust 2023
16	TANGIBLE FIXEDASSETS
	GROUP. AND SCHOOL
									Plant
			Freehold	Leasehold				Motor	&
			Property f.		Property			Vehiclesf	Equipment	Total f.
	Cost:
	At 31 August 2022 Additions		2,369,195 390,047					109,932 11,295	3,082,000 1,539,368	5,561,127 1„940,710
	Disposals		(9,600)						(78,856)	(88,456)
	At 30August 2023		2,749,642					121,227	4,542,512	7,413,381
	Depreciation: At 31 August 2022 Charge for year Disposals		1,193,431 253,426 (1,920)					32,759 24,817	2,726,105 524,673 (61,907)	3,952,295 802,916 (63,827)
	At 30August 2023		1,444,937					57,576	3,188,871	4,691,384
	Net book value: At 30August 2023		1,304,705					63,651	I 353,641	2,721,997
	At 31 August 2022		1,175,764					77 173	355.895	1 668 832
	The leasehold property relates to the school buildings		that are leased from the RMIG Endowment			Trust. See		note 3for further details.
17	INVESTMENTS
	GROUP			Shares	in group			Listed
				undertakings f.			investments		2023f	2022 f.
	Cost/valuation At 31 August 2022 Additions				999			989,140 199,527	990,139 199,527	1,064,384 118,577
	Disposals Gains/(Losses) arising from movements	in valuations						(206,164) (44,773)	(206,164) (44,773)	(100,337) (92,485)
	Cost/valuation At 30August 2023
	Cash							13,429	13,429	11,293
				—
	Histortical cost				2$L~&& 88 ~5225L 999 131ZJIZIL ll4LQZZ					~QQL43L ~96
	SCHOOL			Shares	in group			Listed
				undertakingsf			investments		2023	2022f
	Cost/valuation At 31 August 2022							159,723	160,722	167,911
	Additions							29,438	29,438	21,741
	Disposals Gains/(Losses) arising from movements Cost/valuation At 30August 2023	in valuations				(28,472'I (11,198) 9911~			(28,472) (11,198i (23,349) (5,581) ~59L~6tl 22
	Cash							2,791	2,791	4,433
						999		152282	158281	165155
	Historical cost					999		155831	15683Q	159849

17	INVESTMENTS (contin	ued)	ued)	ued)
	The following investment	was noted as representing			greater than 5%ofthe portfolio value:
					Holding
	Artemis Fd Mngrs Income		EGBP Dis		8%
	Columbia Thr In Fd CT	UK	Eqty Income LGBP Dis		6%
	Aviva Investors UK US	Equity Income		li 5 Dis	6
	Vanguard Funds Pic S&P		500 Ucits Etf USD Dis		8%
	JPMorgan Funds Pic S&P		500 Ucits EtfUSD Dis		5%
18	STOCK				Group	Group		School	School
					2023		2022	2023	2022
					6		f	6
	General Stock
19	DEBTORS				Group	Group		School	School
					2023		2022	2023	2022
							f.
	Fees and extras				175,792		211,113	175,792	211,113
	Less provision for doubtful Other debtors		debts		(102,077) 86,108		(135,939) 77,076	(102,0?7) 16,750	(135,939) 72,099
	Prepayments and accrued income Amount due from RMIG Endowment			Trust	618,603 19,361		754,589	618,603 19,361	754,589
					797787		906 1139	728 420	901 862
20	CREDITORS
					Group	Group		School	School
	Amounts falling due within		one year:		2023f		2022f	2023f	2022
	Trade creditors				988,823		356,757	988,823	356,757
	Taxation and social security costs Fee Deposits Feesin advance				234,473 185,130 1,669,685		227,539 160,597 2,121,859	234,473 185,130 1,669,685	227,539 160,597 2,121,859
	Other creditors				1,495,631		276,535	1,492,043	273,790
	Accruals and deferred	income			144,955		126,436	144,955	126,436
	RMTGB Loan				144,000		144,000	144,000	144,000
	Amount due to RMIG Endowment Trust						2,395,752		2,395,752
	Amount due to group undertaking				63,921		1,000	63,921	38,565
					4020 018		5010475	4923D30	5845295
					Group	Group		School	School
	Deferred income:				2023		2022	2023	2022
					6			f.
	Brought forwards Released in year Received in year				2,281,173 (2,281,170) 2,074,218		1,762,315 (1,762,312) 2,281,170	2,281,173 (2,281,170) 2,074,218	1,762,315 (1,762,312) 2,281,170
	Carried forwards				2,074,221		2,281,173	2 D74,221	2,281,173

r th	e year ended 3	0 Au us	0 Au us	t 2023
21	CREDITORS DUE	AFTER		ONE YEAR
							Group	Group		School		School
							2023 f		2022 F		2023f	2022f
	Amounts falling due after more than one year:
	RMTGB Loan						304,389		448,389		304,389	448,389
	Other creditors						252,388				252,388
	School fee deposits						1,028,952		977,444	1,028,952		977,444
	Fees in advance						404,533		159,311		404,533	159,311
							1 99D 282		1585144	1	99D 262	1 585 144
22	STATEMENT OF FUNDS
	SCHOOL
					At 31 August 2022	Incomef	Expenditure F		Transfer Between Funds		Gains/ (losses) f.	At 30August 2023
	Unrestricted funds:
	General reserve				3,344,486	19,248,237	(18,433,247)		150,847		798,460	5,108,783
	Restricted funds:
	Campaign for excellence				196,471	3,700						200,171
	Benjamin Thomas	Iggulden		Income	157,059	5,504					(11,198)	151,365
	Scholarship Fund
	Cadogan Scholarship		Fund		34,802	157,417			(150,847)			41,372
	Other				1,475		(1,475)
	Total restricted				389,807	166,621	(1,475)		(150,847)		(11,198)	392,908
	Endowment funds:
	Benjamin Thomas	Iggulden		Income	55,240							55,240
	Scholarship Fund
	Total endowment				55,240							55,240
	Total school funds				3,789,533	19,414,858	(18,434,722)				787,262	5,556,931
	Restricted fund Bursary Fund				1 071 054	99 941	~27 777			~33575		1,109,643
	Total Group Funds				4,860,587	19,514,799	(18,462,499)				753,687	6,666,574

r th	e ear ended 30August 2023	e ear ended 30August 2023	e ear ended 30August 2023	e ear ended 30August 2023
22	STATEMENT OF FUNDS (CONT)				At 31 2021	August			Transfer		At 30 2022	August
	SCHOOL								Between	Gains/
							Income	Expenditure	Funds F	(losses)f		F
	Unrestricted funds: General reserve					3,028,408	17,862,818	(17,676,679)	129,939			3,344,486
	Restricted funds:
	Campaign for excellence Benjamin Thomas Iggulden			Income		177,958 158,708	18,513 4,527			(6,176)		196,471 157,059
	Scholarship Fund Cadogan Scholarship Other		Fund			741 1,475	164,000		(129,939)			34,802 1,475
	Total restricted					338,882	187,040		(129,939)	(6,176)		389,807
	Endowment funds:
	Benjamin Thomas	lggulden		income
	Total endowment					55,240						55,240
	Total school funds					3,422,530	18,049,858	(17,676,679)		(6,176)		3,789,533
	Bursary Fund					1,110,981	74,269	(26,079)		(88,117)		1,071,054
	Total Group Funds					4,533,511	18,124,127	(17,702,758)		(94,293)		4,860,587

th	e ear ended 30 Au ust 2023
23	ANALYSIS OF NET ASSETS BETWEEN FUNDS
	GROUP	Unrestricted	Restricted	Endowment	2023
		funds	fundsf	fund 8	Total 6
	Tangible fixed assets	2,721,997			2,721,997
	Investments		896,918	55,240	952,158
	Current assets	9,303,666	605,633		9,909,299
	Current liabilities	(4,926,618)			(4,926,618)
	Long term liabilities	(1,990,262)			(1,990,262)
	Total net assets	5108703	1502551	55240	6666 574
	SCHOOL	Unrestricted	Restdicted	Endowment	2023
		fundsf	fundsf	fund 6	Total
	Tangible fixed assets	2,721,997			2,721,997
	Investments		98,041	55,240	153,281
	Current assets	9,300,078	294,867		9,594,945
	Current liabilities	(4,923,030)			(4,923,030)
	Long term liabilities	(1,990,262)			(1990262)
	Total net assets	5100703	392908	55240	5556931
	GROUP	Unrestricted	Restricted	Endowment	2022
		funds	funds	fund	Total
		Restated			Restated
		f.
	Tangible fixed assets	1,608,832			1,608,832
	Investments		946,192	55,240	1,001,432
	Current assets	9,131,273	514,669		9,645,942
	Current liabilities	(5,810,475)			(5,810,475)
	Long term liabilities	(1,585,144)			(1,585,144)
	Total net assets	3,344,486	1,460,861	55,240	4,860,587
	SCHOOL	Unrestricted	Restricted	Endowment	2022
		funds	funds	fund	Total
		Restatedf			Restated F
	Tangible fixed assets Investments	1,608,832	109,915	55,240	1,608,832 165,155
	Current assets	9,166,093	279,892		9,445,985
	Current liabilities	(5,845,295)			(5,845,295)
	Long term liabilities	(1,585,144)			(1,585,144)
	Total net assets	3,344,480	389807	55240	3789533

			2023	2023	2022	2022
			Land 8	Office	Land 8	Office
			Buildings	equipment	Buildings	equipment
Due	within one year		1,197,876	139,230	1,082,800	139,230
Due	between	two and five years	3,593,628	104,013		272,317
			4,791,504	243,243	1,082,800	411,547