2020-08-31-accounts

Governors	Governors		N. J.Scott-Ely (Chairperson)
			R. Fisher
			P. Toilet
			A. Gray
			J.Clarke
			A. Page
			S.Wallis
			F. Barton	(Appointed	5 December 2019)
Charity	number		280883
Company		number	01510524
Principal	address		Cranford House School Trust Limited
			Moulsford
			Wallingford
			Oxfordshire
			OX109HT
Registered		office	Cranford House School Trust Limited
			Moulsford
			Wallingford
			Oxfordshire
			OX10 9HT
Auditor			Kench &Co Ltd
			Chartered Accountants
			10Station Road
			Henley on Thames
			Oxfordshire
			RG9 1AY
Bankers			Lloyds Bank PLC
			4 Market Place
			Wallingford
			Oxfordshire
			OX10 OEH
Solicitors			Field Seymour Parkes
			11 London Street
			PO Box174
			Reading
			Berkshire
			RG1 4QW

				Page
Governors'	report			1-6
Statement	ofGovernors'		responsibilities
Independent	auditor's	report		8-9
Statement	offinancial	activities		10
Balance sheet
Statement	ofcash flows			12
Notes to the accounts				13-26

				Unrestricted	Restricted	Total	Unrestncted	Restricted	Total
				funds	funds		funds	funds
				2020	2020	2020	2019	2019	2019
			Notes
Income d e	o	me	tsfrom:
Donations and legacies			3		16,000	16,000		15,000	15,000
Charitable activities			4	7,255,006		7,255,006	6,839,058		6,839,058
Investments			5	11,191		11,191	33,168		33,168
Other income			6	6,113		6,113	19,123		19,123
Total income				7,272,310	16,000	7,288,310	6,891,349	15,000	6,906,349
Ex enditure o
Charitable activities			7	6,916,630		6,916,630	6,454,887	21,874	6,476,761
Net gains/(losses)		on
investments				15,000		15,000
Net income for the year/
Net movement in		funds		370,680	16,000	386,680	436,462	(6,874)	429,588
Fund balances at	1
September 2019				6,617,891	8,146	6,626,037	6,181,429	15,020	6,196,449
Fund balances at		31
August 2020				6,988,571	24,146	7,012,717	6,617,891	8,146	6,626,037

							2020	2019
				Notes				F
Fixed assets
Tangible assets				12			13,906,300	12,545,462
Investment properties				13			385,000	370,000
							14,291,300	12,915,462
Current assets
Stocks				14			4,802	5,077
Debtors				15		1,929,616		1,494,151
Cash at bank and	in	hand				881,615		780,193
						2,816,033		2,279,421
Creditors: amounts		falling due within
one year				17	(6,693,987)			(5,080,686)
Net current liabilities							(3,877,954)	(2,801,265)
Total assets less	current liabilities						10,413,346	10,114,197
Creditors: amounts		falling due after
more than one year				18			(3,400,629)	(3,488,160)
Net assets							7,012,717	6,626,037
Income funds
Restricted funds							24,146	8,146
Unrestricted fu ds
General unrestricted		funds				4,502,329		4,131,649
Revaluation reserve						2,486,242		2,486,242
							6,988,571	6,617,891
							7,012,717	6,626,037
The financial statements			were approved	by the Governors		on	O 7 JAN 2021 ....,....................
.Scott-Ely (Chai			son)		R. Fisher
Trustee					Trustee

				2020	2019
			Notes
Cash flows from operating		activities
Cash generated from operations			28	261,242	1,139,519
Investing	activities
Purchase	oftangible fixed assets			(1,734,554)	(1,890,604)
Interest received &rental income				11,191	33,168
Net cash	used in investing	activities		(1,723,363)	(1,857,436)
Financing	activities
Proceeds	of new bank loans			1,699,291	1,300,709
Repayment	ofbank loans			(135,748)	(202,759)
Net cash	generated from financing
activities				1,563,543	1,097,950
Net increase in cash and cash equivalents				101,422	380,033
Cash and	cash equivalents	at beginning	ofyear	780,193	400,160
Cash and	cash equivalents	at end of	year	881,615	780,193

				Restricted
				funds
				2020f	2019f
	Donations	and gifts		16,000	15,000
4	Charitable	activities
				Unrestricted
				funds
				2020	2019f
	Gross fees			7,058,291	6,839,058
	Job retention		scheme grant income	196,715
				7,255,006	6,839,058
5	Investments
				Unrestricted
				funds
				2020	2019
				f
	Rental income			8,547	31,293
	Interest receivable			2,644	1,875
				11,191	33,168

					Unrestricted
					funds
					2020f	2019 E
	Other income				6,113	19,123
7	Charitable	activities
					Provision of	Provision of
					educational	educational
					services	services
					2020	2019
					f
	Staff costs				4,440,987	3,992,404
	Depreciation		and impairment		373,716	347,409
	Scholarship,		bursaries	and direct expenditure	1,078,406	1,114,837
					5,893,109	5,454,650
	Grant funding		ofactivities			21,874
	Share ofsupport costs			(see note 8)	1,023,521	1,000,237
					6,916,630	6,476,761
	Analysis	by	fund
	Unrestricted		funds		6,916,630	6,454,887
	Restricted	funds				21,874

8	Supportcosts	Supportcosts
				Support	Governance	2020	2019
				costs	costs
				f	f
	Human resources				37,303	37,303	36,393
	Premises	costs		280,399		280,399	329,238
	General management		expenses	352,207		352,207	332,663
	Information	technology		62,753		62,753	73,918
	Audit fees				21,892	21,892	15,000
	Finance costs			222,505		226,505	178,597
	Professional fees			46,462		46,462	34,428
				964,326	59,195	1,023,521	1,000,237
	Analysed	between
	Charitable	activities		964,326	59,195	1,023,521	1,000,237

The average	monthly number o	femployees during the year wa	s:
			2020	2019
			Number	Number
Direct charitable			122	108
Management	and administration	ofthe charity	14	14
			136	122
Employment	costs		2020	2019
			F
Wages and salaries			3,569,938	3,325,049
Social security costs			337,616	313,987
Other pension costs			570,736	389,761
			4,478,290	4,028,797

The number of employees whose annual remunera benefits) was F60,000or more were:	tion (excluding employer pension costs bu	t including
	2020	2019
	Number	Number
F60,000-F80,000	1	1
F90,000 - 6120,000	2	2

Tangible fix	ed assets
			Land and	Fixtures, Motor vehicles		Total
			buildings	fittings &
				equipmentf	f
Cost or valuation
At 1 September 2019			13,420,044	1,073,314	168,064	14,661,422
Additions			1,580,843	153,711		1,734,554
At 31August	2020		15,000,887	1,227,025	168,064	16,395,976
Depreciation	and iinpairment
At 1 September 2019			1,073,447	889,793	152,720	2,115,960
Depreciation	charged	in the year	287,937	73,683	12,096	373,716
At 31August	2020		1,361,384	963,476	164,816	2,489,676
Carrying amount
At 31August	2020		13,639,503	263,549	3,248	13,906,300
At 31August	2019		12,346,597	183,521	15,344	12,545,462

Stocks	2020f	2019f
Stock	4,802	5,077

Debtors
		2020	2019
Amounts falling due within one year:
Trade debtors		1,878,167	1,387,134
Other debtors		5,330	29,024
Prepayments	and accrued income	46,119	77,993
		1,929,616	1,494,151
Loans and overdrafts
		2020	2019
Bank loans		6,271,955	4,708,412
Payable within	one year	3,194,676	1,516,752
Payable after	one year	3,077,279	3,191,660
Amounts included above which fall due after five years:
Payable by instalments		2,233,051	2,336,904

17	Creditors: amounts	Creditors: amounts	falling due within one year
					2020	2019
				Notes		f
	Loans and overdrafts			16	3,194,676	1,516,752
	Other taxation	and social security			86,353	82,973
	Deferred income			19	3,132,502	3,216,063
	Trade creditors				108,766	130,310
	Other creditors				92,671	76,628
	Accruals				79,019	57,960
					6,693,987	5,080,686
18	Creditors: amounts		falling due after more than one year
				Notes	2020f	2019f
	Bank loans			16	3,077,279	3,191,660
	Other creditors				323,350	296,500
					3,400,629	3,488,160
19	Deferred income
					2020f	2019f
	Other deferred	income			3,132,502	3,216,063

				Movement	in funds		Movement
							in funds
			Balance at	Incoming	Resources	Balance at	Incoming	Balance at
		1	September	resources	expended	1 September	resources	31August
			2018			2019f		2020
Restricted	funds		15,020	15,000	(21,874)	8,146	16,000	24,146

22	Analysis	of net assets	of net assets	between funds
				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				funds	funds		funds	funds
				2020	2020	2020	2019	2019	2019
								F	E
	Fund balances at 31
	August 2020 are
	represented		by:
	Tangible assets			13,906,300		13,906,300	12,545,462		12,545,462
	Investment		properties	385,000		385,000	370,000		370,000
	Current assets/
	(liabilities)			(3,902,100)	24,146	(3,877,954)	(2,809,411)	8,146	(2,801,265)
	Long term		liabilities	(3,400,629)		(3,400,629)	(3,488,160)		(3,488,160)
				6,988,571	24,146	7,012,717	6,617,891	8,146	6,626,037

	2020	2019
		E
Within one year	20,597	22,703
Between two and five years	94,992	48,733
In over five years	8,966
	124,555	71,436

	Governors shown in no	Governors shown in no	te 9.	te 9.
28	Cash generated from		operations						2020	2019
										E
	Surplus for the year								386,680	429,588
	Adjustments for:
	Investment income recognised			in statement		offinancial	activities		(11,191)	(33,168)
	Fair value gains and	losses on		investment		properties			(15,000)
	Depreciation and impairment oftangible				fixed assets				373,716	347,409
	Movements in working		capital:
	Decrease/(increase)	in	stocks						275	(1,460)
	(Increase) in debtors								(435,465)	(20,845)
	Increase in creditors								45,788	31,733
	(Decrease)/increase	in	deferred	income					(83,561)	386,262
	Cash generated from		operations						261,242	1,139,519
29	Analysts ofchanges		in net (debt)/funds
							At	1 September	Cash flows	At 31August
								2019		2020
	Cash at bank and in	hand						780,193	101,422	881,615
	Loans falling due within		one year					(1,516,752)	(1,677,924)	(3,194,676)
	Loans falling due after		more than one year					(3,191,660)	114,381	(3,077,279)
								(3,928,219)	(1,462,121)	(5,390,340)