2020-08-31-accounts

	Page
Report ofthe governors	1to8
Report ofthe auditors	9&10
Statement offinancial activities
Statement ofcash flows	12&13
Balance sheet
Notes forming part ofthe financial statements	15to 25

				2020		2019
			Unrestricted	Restricted		Unrestricted
			Funds	Funds	Total	Funds
INCOME FROM
Donations and legacies			500		500	119
Charitable activities			5,930,164		5,930,164	5,758,005
Other trading activities			10,784		10,784	22,443
Other				216,136	216,136
Investments			19		19	8
TOTAL INCOME			5,941,467	216,136	6,157,603	5,780,575
EXPENDITURE ON
Raising funds			120,094		120,094	131,759
Charitable activities			5,567,193	216,136	5,783,329	5,209,516
TOTAL RESOURCES EXPENDED		5	5,687,287	216,136	5,903,423	5,341,275
NET MOVEMENT IN FUNDS			254,180		254,180	439,300
RECONCILIATION	OF FUNDS
Total funds at 1st September 2019			3,020,727		3,020,727	2,581,427
TOTAL FUNDS AT31STAUGUST 2020			K3,274,907		K3,274,907	K3,020,727

					Total	Total
					2020	2019
Net cash flow from operating activities					958,638	1,073,819
Net cash provided by/(used	in)	investing		activities
Purchase offixed assets					(1,865,600)	(2,254,811)
Interest received					19	8
Net cash provided by/(used	in)	financing		activities
Interest paid					(168,889)	(139,697)
Loan advance					1,209,752	1,332,500
Hire purchase					76,220	35,000
Repayment ofloans and hire purchase					(171,499)	(90,527)
Change in cash and cash equivalents			in the period		38,641	(43,708)
Cash and cash equivalents	at the beginning ofthe period				186,618	230,326
Cash and cash equivalents	at	the end		ofthe period	K225,259	X186,618
Reconciliation ofnet income		to net
cash flow from operating	activities
Net income for the reporting period					254,180	439,300
Investment income					(19)	(8)
Interest paid					168,889	139,697
Decrease in stocks					971	5,402
Decrease / (increase) in debtors					40,799	(1,399)
(Decrease) / increase in creditors					(77,578)	27,476
Depreciation					569,873	447,571
Loss/(profit) on disposal offixed assets					1,523	15,780
Net cash flow from operating		activities			1958,638	j1,073,819
Analysis ofcash and cash	equivalents
Bank balances					F225,259	5.186,618

RECONCILIATION OF NET DEBT
	At 01.09.19	Cash Flows	At31.08.20
Cash and cash equivalents	186,618	38,641	225,259
Loans falling due within one year	(82,010)	(46,991)	(129,001)
Loans falling due after more than one year	(2,918,559)	(1,069,483)	(3,988,042)
Hire purchase contracts falling due within one year	(57,184)	22,995	(34,189)
Hire purchase contracts falling due within one year	(68,799)	(20,994)	(89,793)
	f. 2,939,934	X 1,075,832	Z 4,015,766

				2020	2019
CHARITABLE ACTIVITIES
Tuition and boarding	fees			7,186,925	6,786,002
Less: Scholarships,	bursaries		and awards	(1,337,787)	(1,175,548)
Extras and disbursements		recovery		75,976	139,701
Registration fees				5,050	7,850
				K5,930,164	K5,758,005
				2020	2019
OTHER TRADING	ACTIVITIES
Rents and lettings				10,144	13,411
Sundry income				640	9,032
				610,784	f22,443
OTHER INCOME
Grants received				$216,136

				2020
		Staff	Other
		costs	costs	Depreciation	Total
Raising funds
Marketing	costs and salary	25,671	94,423		120,094
Charitable	activities
Teaching		2,942,614	209,926	311,322	3,463,862
Welfare		59,892	387,129		447,021
Premises Supporting	costs ofschooling	305,204 447,467	463,402 397,822	217,700 40,851	986,306 886,140
		3,755,177	1,458,279	569,873	5,783,329
		X3,780,848	E1,552,702	f569,873	$5,903,423

					2019
			Staff	Other
			costs	costs	Depreciation	Total
Raising funds
Marketing	costs and salary		25,169	106,590		131,759
Charitable	activities
Teaching			2,581,523	226,170	248,241	3,055,934
Welfare			103,438	413,142		516,580
Premises			240,822	422,444	161,114	824,380
Supporting	costs ofschooling		347,051	427,355	38,216	812,622
			3,272,834	1,489,111	447,571	5,209,516
			$3,298,003	K1,595,701	f447,571	5.5,341,275
					2020	2019
NET MOVEMENT IN FUNDS
This is stated after charging:
Depreciation oftangible fixed assets				569,873		447,571
Auditors'	remuneration				7,620	7,512
Auditors'	non-audit costs				3,330	3,228
Interest on hire purchase		contracts			5,559	5,001

		2020	2019
7.	STAFF COSTS
	Wages and salaries	2,972,143	2,707,599
	Social Security costs	286,315	256,387
	Pension contributions	522,390	334,017
		K3,780,848	K3,298,003

		2020	2019
The average monthly	number ofemployees	Number	Number
in the year was;
Teaching	full-time	38	37
	part-time	13	10
Other	full-time	11	10
	part-time	51	46
		113	103

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	FOR THE YEAR ENDED 31S (Continued)	TAUGUST 2020
		2020	2019
9.	STOCK
	Consumables	K5,164	K6,135
10.	DEBTORS
	Fees debtors	117,271	91,452
	Other debtors and prepayments	114,411	181,029
		5231,682	5272,481
11.	CREDITORS: AMOUNTS FALLING DUE
	WITHIN ONE YEAR
	Fees charged in advance	670,503	681,160
	Bank loans (current instalments)	129,001	82,010
	Hire purchase	34,189	57,184
	Payroll taxes and social security costs	73,360	66,890
	Other creditors and accruals	171,850	246,141
		K1,078,903	$1,133,385

13.	FUNDS		2020
		Unrestricted	Restricted	Total
	Balance at 1st September 2019	3,020,727		3,020,727
	Net incoming resources before transfers	254,180		254,180
	Balance at 31stAugust 2020	63,274,907		j3,274,907
	REPRESENTED BY:
	Tangible fixed assets	8,143,840		8,143,840
	Net current liabilities	(616,798)		(616,798)
	Long term liabilities	(4,252,135)		(4,252,135)
		3,274,907		3,274,907
			2019
		Unrestricted	Restricted	Unrestricted
	Balance at 1st September 2018	2,581,427		2,581,427
	Net incoming resources before transfers	439,300		439,300
	Balance at 31stAugust 2019	K3,020,727		$3,020,727
	REPRESENTED BY;
	Tangible fixed assets	6,849,636		6,849,636
	Net current liabilities	(668,151)		(668,151)
	Long term liabilities	(3,160,758)		(3,160,758)
		K3,020,727		K3,020,727