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|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|
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|||||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|
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||||||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|
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|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|
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|||||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||
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|||||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|
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||||||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|
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|||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|
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|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|
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