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|Annual|Report||||
|---|---|---|---|---|
|Period|Ended|30|November|2020|
|Period End|ed 30 No|vember 20|20||
|---|---|---|---|---|
|Contents||||Page No.|
|Report ofthe|Trustees|||1-5|
|Independent|Examiners'|Report to the|Trustees||
|Consolidated|Income and|Expenditure|Account||
|(Incorporating|Consolidated
Statement||of Financial Activities)||
|Consolidated|Balance Sheet||||
|Company
Balance Sheet|||||
|Consolidated|Cash Flow|Statement||10|
|Notes to the|Consolidated|Cash Flow|Statement||
|Notes and Accounting
Policies||||12-22|
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|Period Ended||3|0|November 20|20|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Year Ended
Nov|30|Period from
1
Aug 2018to
30 Nov||
|||||||||2020|||2019|
|||||||||Unrestricted||Unrestricted||
|||||||||and restricted||and restricted||
|||||||||funds|||funds|
||||||||Note|||||
|Income||||||||||||
|Income from charitable|||activities:|||||||||
|Fees receivable|||||||||||4,063,673|
|Ancillary
income|||||||||||304,035|
|Voluntary
incoming||resources|||||||66||337|
|Income from activities|||to|generate funds|||||(52)||275,910|
|Total Income|||||||||14||4,643,955|
|Expenditure||||||||||||
|Charitable
activities:||||||||||||
|Teaching costs|||||||||||2,653,771|
|Welfare costs|||||||||||821,579|
|Premises costs|||||||||||751,877|
|Grants, awards||and|prizes||||||||1,082|
|Support costs||||||||21,553|||971,253|
|Costs ofgenerating||funds||||||2,059|||141,866|
|(Profit) / Loss on disposal||||offixed assets||||(79,924)|||1,339,950|
|Total Expenditure||||||||(56,312)|||6,681,378|
|Net incoming/(outgoing)
investments||||resources before transfers||and Gains on||56,326|||(2,037,423)|
|Gains on investments||||||||||||
|Transfers
between||funds||||||||||
|Net income/(expenditure)||||and movement|in funds for the year|||56,326|||(2,037,423)|
|Balances brought|forward|||at 1 December 2019||||553,612|||2,591,035|
|Balances carried||forward at 30November|||2020|||609,938||f|553,612|
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|30 Novem|ber||2020||||30 Nov||30 Nov|
||||||||2020||2019|
||||||Notes|||||
|Fixed assets||||||||||
|School land,|buildings||and equipment||||||806|
|Prize fund investments|||||||3,421||3,421|
||||||||3,421||4,227|
|Current assets||||||||||
|Stock|||||||||435|
|Debtors|||||||7,638||691,642|
|Cash at bank|and|in|hand||||685,182||54,524|
||||||||692,820||746,601|
|Creditors: Amounts|||falling|due within one year|10||86,303||197,216|
|Net current assets|||||||606,517||549,385|
|Total assets|less|current||liabilities|||609,938||553,612|
|Net assets||||||K|609,938|E|553,612|
|Unrestricted|general||fund||||601,310||544,984|
|Restricted funds|||||12||8,628||8,628|
|Total funds|||||||609,938|E|553,612|
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|30 November||2020|||30 Nov||30 Nov|
|---|---|---|---|---|---|---|---|
||||||2020||2019|
|||||Notes||||
|Fixed assets||||||||
|Prize fund investments|||||3,421||3,421|
|Shares
in subsidiary||undertaking|||100||100|
||||||3,521||3,521|
|Current assets||||||||
|Debtors|||||7,638||687,509|
|Cash at bank and|in|hand|||681,242||53,473|
||||||688,880||740,982|
|Creditors: Amounts||falling|due within one year|10|86,267||196,615|
|Net current assets|||||602,613||544,367|
|Total assets less|current||liabilities||606,134||547,888|
|Net assets|||||606,134|6|547,888|
|Unrestricted
general fund|||||597,506||539,260|
|Restricted funds||||12|8,628||8,628|
|Total funds|||||606,134|E|547,888|
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||||||||
|---|---|---|---|---|---|---|
|Period Ended|30 November|20|20||30 Nov|30 Nov|
||||||2020|2019|
|||||Notes|||
|Net cash inflow/(outflow)
from operating|||activities||630,658|(1,288,064)|
|Capital expenditure|||||||
|Purchase oftangible|fixed assets|||||(31,371)|
|Proceeds on sale of|tangible fixed assets|||||1,298,107|
|Net cash inflow from Capital expenditure||||||1,266,736|
|Financing|||||||
|Advance fees utilised||||||(88,839)|
|Finance lease repayments||||||(18,416)|
|Net cash outflow from Financing||||||(107,255)|
|Increase/(decrease)|in cash in the year|||3|R 630,658|f (128,585)|
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|Period Ended 30 November|Period Ended 30 November|Period Ended 30 November|2020|2020|||||30 Nov||30 Nov|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2020||2019|
|1. Reconciliation
of
Net|income/(expenditure)|||||to|Net|cash||||
|inflow/(outflow)
from operating||activities||||||||||
|Net incoming
/(outgoing)
resources|||||||||56,326||(2,037,423)|
|Depreciation|||||||||806||174,509|
|Loss/(profit)
on disposal oftangible|||fixed assets||||||||1,339,950|
|(Increase)/decrease
in stock|||||||||435||(322)|
|Decrease/(increase)
in debtors|||||||||684,004||(424,442)|
|Decrease
in creditors|||||||||(110,913)||(340,336)|
|Net cash inflow/(outflow)
from operating||||activities|||||630,658|E|(1,288,064)|
|2. Reconciliation
of net cash|flow to movements||||in net|debt|||30Nov||30 Nov|
||||||||||2020||2019|
||||||||||||F|
|Increase/(decrease)
in cash|in the|year|||||||630,658||(128,585)|
|Cash outflow from decrease|in loan||and finance||leases||||||18,416|
|Change
in net debt in the year|||||||||630,658||(110,169)|
|Net funds at 1 August 2019|||||||||54,524||164,693|
|Net funds at 30November
2020|||||||||685,182|6|54,524|
|3. Analysis ofchanges
in net|funds|||||||||||
|||||At 1 August
2019||Cash flows|||Other changes|At 30
November||
||||||||||||2020|
|Cash at bank and
in hand|||||54,524||630,658||||685,182|
||||||54,524|R|630,658||8
-|K|685,182|
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|2.|Trading|Income and|Income and|Expenditure|Expenditure|(continued)||30 Nov||30 Nov|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||2020||2019|
|||||||||F|||
||Turnover|||||||(52)||246,613|
||Cost ofsales|||||||(435)||(59,665)|
||Gross profit/(loss)|||||||(487)||186,948|
||Administration||costs|||||(1,433)||(77,803)|
||Profit/(loss)||before deed ofcovenant|||||(1,920)||109,145|
||Deed of|covenant
payment|||to Trinity School Teignmouth|||||(109,145)|
||Loss for|the|financial|year before||tax||(1,920)|||
||Taxation||||||||||
||Loss for|the|financial|year after tax|||K|(1,920)|F||
|Loss for the fi|nancial year|nancial year|after tax|after tax|after tax|||K|(1,920)|F||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Administration|costs include||FO (2019:F3,460) in respect|||of rent paid to||the|Charity during|the|period.|
|The balance sheet position|||at 30 November||is as follows:|||||||
|Total assets|||||||||5,103||121,000|
|Less: Total liabilities|||||||||(1,199)||(115,176)|
|||||||||E|3,904|F|5,824|
|Total funds|||||||||3,904|Z|5,824|
|Analysis oftotal resources|||expended|||||||||
||||||2020||||||2019|
|||Staff costs||Other costs||Depreciation|||Total||Total|
||||F||||||||F|
|Charitable
activities:||||||||||||
|Teaching costs|||||||||||2,653,771|
|Welfare costs|||||||||||821,579|
|Premises costs|||||||||||751,877|
|Grants, awards||and||||||||||
|prizes|||||||||||1,082|
|Support costs|||||21,553||||21,553||971,253|
||||||21,553||||21,553||5,199,562|
|Costs ofgenerating||||||||||||
|funds|||||191||||191||7,858|
|Loss on sale|||||(79,924)||||(79,924)||1,339,950|
|Total for Company|||||(58,180)||||(58,180)||6,547,370|
|Trading costs||ofthe||||||||||
|subsidiary|||||1,062||806||1,868||134,008|
|Total for Group||K|||(57,118)|R|806|f.|(56,312)|F|6,681,378|
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|4.|Interest payable||||||||30 Nov
2020
E|30 Nov
2019
f|30 Nov
2019
f|
|---|---|---|---|---|---|---|---|---|---|---|---|
||On bank loans and overdrafts||||||||191||568|
||||||||||191|E|568|
|5.|Expenditure
-other disclosures||||||||30 Nov
2020|30 Nov
2019||
||Auditors'
remuneration-|||audit|||||||9,800|
|||||other financial services|||||||51,960|
||Independent
examination
fee
Operating
lease rentals
Governors'
expenses - travel||and other costs
costs||||||7,000
61||21,279
286|
||Travel expenses were paid|to|one trustee||during||the year.|||||
|6.|Staff costs||||||||30 Nov
2020|30 Nov
2019||
||Wages and salaries
Social security costs
Pension
contributions
(see|note 14)|||||||||(631,620)
232,867
398,753|
||||||||||||(57,118)|
||Trustees are not remunerated||and none benefited||||from|an employment|with the charity or related||entity.|
||Aggregate
employee
benefits||of key management||||personnel||||337,515|
||Average
number
employed|in|the year||||||||89|
||Average
number of unpaid|volunteers||||||||||
||The number of higher paid|employees||was:||||||||
||F60,001 - 270,000|||||||||||
||f80,001 - 290,000|||||||||||
||f100,001 - f110,001|||||||||||
||Total|||||||||||
||The number
with retirement|benefits accruing||||in defined||benefit||||
||schemes was|||||||||||
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|Tangible fixe|d assets - Group||||||
|---|---|---|---|---|---|---|
||||At 1|||At 30|
||||December|Additions|Disposals|November|
||||2019|||2020|
||||E||||
|Cost or valuation|||||||
|Fixtures, fittings and equipment|||4,028|||4,028|
||||4,028|||4,028|
|Accumulated|depreciation||||||
|Fixtures, fittings and equipment|||3,222|806||4,028|
||||3,222|806||4,028|
||||At 1|||At 30|
||||December|||November|
||||2019|||2020|
|Net book value|||||||
|Fixtures, fittings and equipment|||806||||
|||F|806||||
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||||||||||30 Nov||30 Nov|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2020||2019|
||||||||||f||Z|
||UK bank|deposit accounts:||||||||||
||Bostock
Singleton|Green|||||||3,304
117||3,304
117|
||||||||||3,421||3,421|
|9.|Debtors|||||||||||
||||||Group||||Company|||
|||||30 Nov|||30 Nov||30Nov||30 Nov|
|||||2020|||2019||2020||2019|
||||||||||E|||
||Due within one year:|||||||||||
||Fee debtors
Other debtors||||186||256,838
434,804||186||138,182
434,752|
||Prepayments
Amounts
due||and accrued income
from group undertakings|7,452|||||7,452||114,575|
|||||7,638||E|691,642|F|7,638|F|687,509|
|10.|Creditors|||||||||||
||||||Group||||Company|||
|||||30 Nov|||30 Nov||30Nov||30 Nov|
|||||2020|||2019||2020||2019|
||Amounts|falling due within one year:||||||||||
||Trade creditors|||12,600|||112,323||12,600||112,323|
||Taxation
and social security
Other creditors|||65,504|||44,784
39,508||65,504||44,784
39,508|
||Accruals|||8,199|||601||7,000|||
||Amounts|due|to group undertakings||||||1,163|||
||||f|86,303||f.|197,216|F|86,267|'Z|196,615|
|11,|Fees received
in advance and deposits||||||||30 Nov
2020||30 Nov
2019|
||||||||||P|||
||Balance at 1 August 2019
Net withdrawals||||||||||237,018
(237,018)|
||Balance|at 30 November 2020||||||||||
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|Restricted funds||||||||||
|---|---|---|---|---|---|---|---|---|---|
||Balances at 1
December
2019||Income||Expenditure||Transfers/
revaluations||Balances at 30
November
2020|
||E||||||||E|
|Prize funds|3,490||||||||3,490|
|Bursary fund|5,138||||||||5,138|
||E
8,628|E||-|E|—|E|-|E
8,628|
##
|Allocation|ofthe ch|arity's
net assets|||||||
|---|---|---|---|---|---|---|---|---|
|||Fixed assets|Investments|Net current
assets||Long term
liabilities||Net assets|
|Company|||||||||
|Restricted|funds||3,421||5,207|||8,628|
|Unrestricted|funds||100||597,406|||597,506|
||||3,521|E|602,613|E|E|606,134|
|Group|||||||||
|Restricted funds|||3,421||5,207|||8,628|
|Unrestricted|funds||||601,310|||601,310|
||||3,421|E|606,517|E||609,938|
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||||||||||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Unrestricted||funds|Restricted||and|
|||||||||||funds|restncted||
|||||||||||||funds|
|||||||General||fund|Revaluation|Restricted|||
||||||||||funcl|income|||
||||||||||E|f.|||
|Income|||||||||||||
|Income from charitable|||activities:||||||||||
|Fees receivable|||||||||||||
|Ancillary
income|||||||||||||
|Voluntary
incoming||resources||||||66||||66|
|Income from activities to generate|||||funds|||(52)||||(52)|
|Total Income||||||||14||||14|
|Resources Expended|||||||||||||
|Charitable
activities:|||||||||||||
|Teaching costs|||||||||||||
|Welfare costs|||||||||||||
|Premises costs|||||||||||||
|Grants, awards||and prizes|||||||||||
|Support costs|||||||21,553|||||21,553|
|Costs ofgenerating||funds|||||2,059|||||2,059|
|Profit on sale|||||||(79,924)|||||(79,924)|
|Total Resources||Expended|||||(56,312)|||||(56,312)|
|Net incoming
resources before transfers
and Gains on investments|||||||56,326|||||56,326|
|Gains on investments|||||||||||||
|Transfers
between||funds|||||||||||
|Net income and movement
for the year||||in funds|||56,326|||||56,326|
|Balances brought
December 2019|forward at 1||||||544,984|||8,628||553,612|
|Balances carried
November
2020||forward at||31||E|601,310||f|8,628|R|609,936|
##
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|Year ended 31July 2|019|||||||
|---|---|---|---|---|---|---|---|
||||Unrestricted|funds|Restricted
funds|Unrestricted
and restricted
funds||
||||General fund|Revaluation
funcl|Restricted
income|||
|||||F|E|||
|Income||||||||
|Income from charitable|activities:|||||||
|Fees receivable|||4,063,673||||4,063,673|
|Ancillary
income|||304,035||||304,035|
|Voluntary
incoming
resources|||337||||337|
|Income from activities|to generate|funds|275,910||||275,910|
|Total Income|||4,643,955||||4,643,955|
|Resources Expended||||||||
|Charitable
activities:||||||||
|Teaching costs|||2,653,771||||2,653,771|
|Welfare costs|||821,579||||821,579|
|Premises costs|||751,8?7||||751,877|
|Grants, awards
and|prizes||1,082||||1,082|
|Support costs|||971,253||||971,253|
|Costs ofgenerating
funds|||141,866||||141,866|
|Loss on sale|||1,339,950||||"l,339,950|
|Total Resources Expended|||6,681,378||||6,681,378|
|Net outgoing
resources
before transfers
and Gains on investments|||(2,037,423)||||(2,037,423)|
|Gains on investments||||||||
|Transfers
between funds|||158,964|(158,964)||||
|Net expenditure
and
funds for the year|movement|in|(1,878,459)|(158,964)|||(2,037,423)|
|Balances brought
forward at 1 August
2018|||2,423,443|158,964|8,628||2,591,035|
|Balances carried forward at 31
2019||July|544,984||8,628|K|553,612|