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|Governors||R.Fisher||||
|---|---|---|---|---|---|
|||P.Toilet||||
|||J.Clarke||||
|||A, Page||||
|||S.Wallis (Chairman)||||
|||F.Barton||||
|||C.Temple||(Appointed|26 January 2021)|
|||L. Lawson||(Appointed|1 December 2021)|
|Charity number||280883||||
|Company|number|01510524||||
|Principal address||Moulsford||||
|||Wallingford||||
|||Oxfordshire||||
|||OX109HT||||
|Registered|oNce|Moulsford||||
|||Wallingford||||
|||Oxfordshire||||
|||OX109HT||||
|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||||





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|||Page|
|---|---|---|
|Governors'<br>report||1-5|
|Statement ofGovernor'<br>responsibilities|||
|Independent<br>auditor's|report|7-9|
|Statement offinancia|activities|10|
|Balance sheet|||
|Statement ofcash flows||12|
|Notes to the financial|statements|13-26|





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|||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||funds|funds||funds|funds||
|||Notes||2021<br>R|2021<br>R|2021|2020<br>F|2020f|2020f|
|o<br>e|dowments||from:|||||||
|Donations<br>and|legacies||3||10,000|10,000||16,000|16,000|
|Charitable<br>activities|||4|8,008,341||8,008,341|7,255,006||7,255,006|
|Investments|||5|25,660||25,660|11,191||11,191|
|Other income|||6|4,120||4,120|6,113||6,113|
|Total income||||8,038,121|10,000|8,048,121|7,272,310|16,000|7,288,310|
|Charitable<br>activities|||7|7,694,250|34,146|7,728,396|6,916,630||6,916,630|
|Net gains/(losses)||on||||||||
|investments|||||||15,000||15,000|
|Net Income/(expenditure)||||||||||
|for the year/||||||||||
|Net movement|in|funds||343,871|(24,146)|319,725|370,680|16,000|386,680|
|Fund balances|at 1|||||||||
|September 2020||||6,988,571|24,146|7,012,717|6,617,891|8,146|6,626,037|
|Fund balances|at|31||||||||
|August 2021||||7,332,442||7,332,442|6,988,571|24,146|7,012,717|





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||||Notes|2021<br>f|2020<br>f|
|---|---|---|---|---|---|
|Fixed assets||||||
|Tangible assets|||12|14,310,898|13,906,300|
|Investment<br>properties|||13||385,000|
|||||14,310,898|14,291,300|
|Current assets||||||
|Stocks|||14|2,350|4,802|
|Debtors|||15|1,957,623|1,929,616|
|Cash at bank and|in|hand||1,228,923|881,615|
|||||3,188,896|2,816,033|
|Creditors: amounts||falling due within||||
|one year|||17|(3,958,761)|(6,693,987)|
|Net current<br>liabilities||||(769,865)|(3,877,954)|
|Total assets less|current liabilities|||13,541,033|10,413,346|
|Creditors: amounts||falling due after||||
|more than one year|||18|(6,208,591)|(3,400,629)|
|Net assets||||7,332,442|7,012,717|
|Income funds||||||
|Restricted funds|||21||24,146|
|nre<br>tr'<br>ed funds||||||
|General unrestricted||funds||4,846,200|4,502,329|
|Revaluation<br>reserve||||2,486,242|2,486,242|
|||||7,332,442|6,988,571|
|||||7,332,442|7,012,717|



## 



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||||||2021||2020|
|---|---|---|---|---|---|---|---|
|||||Notes|||f|
|Cash flows from operating||activities||||||
|Cash generated<br>from operations||||26||981,746|261,242|
|Investing|activities|||||||
|Purchase|oftangible<br>fixed assets||||(465,412)||(1,734,554)|
|Investment|income received||||25,660||11,191|
|Net cash|used in investing|activities||||(439,752)|(1,723,363)|
|Financing|activities|||||||
|Proceeds|ofnew bank loans||||||1,699,291|
|Repayment|ofbank loans||||(194,686)||(135,748)|
|Net cash (used in)/generated|||from|||||
|financing|activities|||||(194,686)|1,563,543|
|Net increase in cash and cash equivalents||||||347,308|101,422|
|Cash and|cash equivalents|at beginning||ofyear||881,615|780,193|
|Cash and|cash equivalents|at|end of|year||1,228,923|881,615|





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|||||Restricted||
|---|---|---|---|---|---|
|||||funds||
|||||2021|2020|
||||||F|
||Donations|and gifts||10,000|16,000|
|4|Charitable|activities||||
|||||Unrestricted||
|||||funds||
|||||2021|2020|
||||||R|
||Gross fees|||7,979,169|7,058,291|
||Job retention||scheme grant income|29,172|196,715|
|||||8,008,341|7,255,006|
|5|Investments|||||
|||||Unrestricted||
|||||funds||
|||||2021|2020|
||||||f,|
||Rental income|||25,489|8,547|
||Interest receivable|||171|2,644|
|||||25,660|11,191|





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|||||||Unrestricted||
|---|---|---|---|---|---|---|---|
|||||||funds||
|||||||2021|2020|
||||||||E|
||Other income|||||4,120|6,113|
|7|Charitable||activities|||||
|||||||Provision ofProvision of||
|||||||educational|educational|
|||||||services|services|
|||||||2021|2020|
|||||||f||
||Staff costs|||||4,645,398|4,440,987|
||Depreciation|||and impairment||445,814|373,716|
||Scholarship,|||bursaries|and direct expenditure|1,388,384|1,078,406|
|||||||6,479,596|5,893,109|
||Share ofsupport costs||||(see note 8)|1,248,800|1,023,521|
|||||||7,728,396|6,916,630|
||Analysis<br>by fund<br>Unrestricted<br>funds|||||7,694,250|6,916,630|
||Restricted|funds||||34,146||
|||||||7,728,396|6,916,630|





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|Support|costs||||||
|---|---|---|---|---|---|---|
||||SupportGovernance||2021|2020|
||||costs|costs|||
|Human<br>resources||||37,770|37,770|37,303|
|Premises|costs||474,252||474,252|280,399|
|General management||expenses|288,997||288,997|352,207|
|Information|technology||105,765||105,765|62,753|
|Audit fees||||21,140|21,140|21,892|
|Finance costs|||279,356||279,356|226,505|
|Professional fees|||41,520||41,520|46,462|
||||1,189,890|58,910|1,248,800|1,023,521|
|Analysed|between||||||
|Charitable|activities||1,189,890|58,910|1,248,800|1,023,521|



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|The average<br>monthly<br>number o|femployees<br>during the year wa|s:||
|---|---|---|---|
|||2021|2020|
|||Number|Number|
|Direct charitable||126|122|
|Management<br>and administration|ofthe charity|20|14|
|||146|136|
|Employment<br>costs||2021|2020|
|Wages and salaries||3,730,039|3,569,938|
|Social security costs||361,049|337,616|
|Other pension costs||592,080|570,736|
|||4,683,168|4,478,290|



|<br>benefits)|<br> was E60,000or more were:|||
|---|---|---|---|
|||2021|2020|
|||Number|Number|
|f60,000|- f80,000|2|1|
|890,000|- F120,000|2|2|



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|12|Tangible fixed assets|Tangible fixed assets|||||||
|---|---|---|---|---|---|---|---|---|
||||||Land and|Fixtures, Motor vehicles||Total|
||||||buadings|fittings 8|||
|||||||equipmentf|f||
||Cost or valuation||||||||
||At 1 September 2020||||15,000,887|1,227,025|168,064|16,395,976|
||Additions||||412,363|53,049|-|465,412|
||Transfer from|investment||property|385,000|||385,000|
||At 31August|2021|||15,798,250|1,280,074|168,064|17,246,388|
||Depreciation|and impairment|||||||
||At 1 September 2020||||1,361,384|963,476|164,816|2,489,676|
||Depreciation|charged|in|the year|345,283|97,283|3,248|445,814|
||At 31August|2021|||1,706,667|1,060,759|168,064|2,935,490|
||Carrying<br>amount||||||||
||At 31August|2021|||14,091,583|219,315||14,310,898|
||At 31August|2020|||13,639,503|263,549|3,248|13,906,300|



## 

|Investment<br>property||
|---|---|
||2021f|
|Fair value||
|At 1 September 2020|385,000|
|Transfers to tangible fixed assets|(385,000)|
|At 31August 2021||





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|14|Stocks||||2021f|2020f|
|---|---|---|---|---|---|---|
||Stock||||2,350|4,802|
|15|Debtors||||||
||||||2021|2020|
||Amounts|falling due within one year:||||K|
||Trade debtors||||1,852,493|1,878,167|
||Other debtors||||24,546|5,330|
||Prepayments||and|accrued income|80,584|46,119|
||||||1,957,623|1,929,616|
|16|Loans and overdrafts||||||
||||||2021|2020|
|||||||f.|
||Bank loans||||6,077,269|6,271,955|
||Payable|within|one year||230,778|3,194,676|
||Payable|after|one|year|5,846,491|3,077,279|
||Amounts|included||above which fall due after five years:|||
||Payable|by instalments|||4,701,530|2,336,904|





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|Creditors: amounts<br>falling due within one year||||
|---|---|---|---|
|||2021|2020|
||Notes||E|
|Loans and overdrafts|16|230,778|3,194,676|
|Other taxation and social security||96,544|86,353|
|Deferred income||3,358,407|3,132,502|
|Trade creditors||207,236|108,766|
|Other creditors||12,500|92,671|
|Accruals||53,296|79,019|
|||3,958,761|6,693,987|



|18|Creditors: amounts|falling due after more than one year||||
|---|---|---|---|---|---|
||||Notes|2021<br>K|2020f|
||Bank loans||16|5,846,491|3,077,279|
||Other creditors|||362,100|323,350|
|||||6,208,591|3,400,629|
|19|Deferred income|||||
|||||2021|2020f|
||Other deferred income|||3,358,407|3,132,502|





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|||||INovement||Movement|in funds||
|---|---|---|---|---|---|---|---|---|
|||||in funds|||||
||||Balance at<br>1 September|Incoming<br>resources|Balance at<br>1September|Incoming<br>resources|Resources<br>expended|Balance at<br>31August|
||||2019||2020|||2021|
|||||K|F|||E|
||Restricted|funds|8,146|16,000|24,146|10,000|(34,146)||
|22|Analysis ofnet assets||between funds||||||
||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||||funds|funds||funds|funds||
||||2021|2021f|202'I|2020<br>F|2020|2020|
||Fund balances at 31||||||||
||August 2021 are||||||||
||represented|by:|||||||
||Tangible assets||14,310,898||14,310,898|13,906,300||13,906,300|
||Investment|properties||||385,000||385,000|
||Current assets/||||||||
||(liabilities)||(769,865)||(769,865)|(3,902,100)|24,146|(3,877,954)|
||Long term|liabilities|(6,208,591)||(6,208,591)|(3,400,629)||(3,400,629)|
||||7,332,442||7,332,442|6,988,571|24,146|7,012,717|



## 

||2021<br>E|2020f|
|---|---|---|
|Within one year<br>Between two and five years<br>In over five years|34,359<br>93,176|20,597<br>94,992<br>8,966|
||127,535|124,555|



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||||||||||
|---|---|---|---|---|---|---|---|---|
|26|Cash generated<br>from operatio||ns||||2021|2020|
||||||||R|K|
||Surplus for the year||||||319,725|386,680|
||Adjustments<br>for.||||||||
||Investment<br>income recognised||in statement|offinancial|activities||(25,660)|(11,191)|
||Fair value gains and|losses on|investment|properties||||(15,000)|
||Depreciation<br>and impairment<br>oftangible fixed assets||||||445,814|373,716|
||Movements<br>in working capital:||||||||
||Decrease<br>in stocks||||||2,452|275|
||(Increase)<br>in debtors||||||(28,007)|(435,465)|
||Increase<br>in creditors||||||41,517|45,788|
||Increase/(decrease)|in deferred|income||||225,905|(83,561)|
||Cash generated<br>from operations||||||981,746|261,242|
|27|Analysis ofchanges|in net (debt)/funds|||||||
||||||At|1 September|Cash flows|At 31August|
|||||||2020||2021|
|||||||E,|K||
||Cash at bank and in|hand||||881,615|347,308|1,228,923|
||Loans falling due within one year|||||(3,194,676)|2,963,898|(230,778)|
||Loans falling due after more than one year|||||(3,077,279)|(2,769,212)|(5,846,491)|
|||||||(5,390,340)|541,994|(4,848,346)|