# ## ## |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)|