| Contents | Page | |
|---|---|---|
| Governors, | Officers and Advisers | 3 —4 |
| Annual Report ofthe Governors |
5 —21 | |
| Independent | Auditor's Report |
22 - 24 |
| Consolidated | Statement ofFinancial Activities | 25 |
| Consolidated | and Charity Balance Sheets | |
| Consolidated | Statement ofCash Flows | 27 |
| Notes to the | Financial Statements |
28-52 |
| TIVE | ASSESSMENT | |||
|---|---|---|---|---|
| To maintain the high level of all-round Catholic and Christian education within the schools ofthe Trust. An enduring objective. |
With the recent appointments of new Heads at Prior Park College and the Paragon School and a new Director ofOperations & Finance new initiatives will |
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| be undertaken to ensure the high level of education |
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| across Prior Park Schools. The Prior Executive Board |
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| is in place to ensure that the schools have the |
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| appropriate level ofexecutive leadership. |
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| To achieve a financial surplus in to make continued investment needed to support the Trust's enduring objective. |
order to be able in the facilities activities. An |
Due tothe challenges caused by the Covid-19 pandemic this objective has been put under strain in 2019/20 with the Trust nevertheless managing to make a small surplus for the year, largely helped byI0.5m offunding |
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| from the Government's Furlough Scheme. Rigorous cashflow management and scenario planning have |
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| taken place to ensure that the Trust survives this period and is in a good position to move forward once the |
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| andemic eases. | ||||
| To focus on affordability to ensure that Park education remains accessible to as section ofthe population as possible. |
a Prior wide a |
Regular affordability discussions are held at both the FAIR and the full Governing Board meetings. This issue receives the full attention ofboth Governors and |
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| the Prior Executive Board. The decision was taken to | ||||
| hold the Michaelmas Term 2020 fees at the 2019/20 |
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| level for the UK schools to help parents through this |
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| eriod. | ||||
| Tocontinue to monitor opportunities to strengthen the existing schools in Bath and Gibraltar potentially through partnering or acquiring |
We continue to review opportunities both in the United Kingdom and abroad to seeifthere isafit with the Prior Park Schools' vision and ethos. |
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| existing or new schools in support |
of the | Trust's | ||
| primary objective ofthe advancement | ofeducation | |||
| within a Catholic/Christian |
ethos | and | ||
| environment. |
for the year ended 31August 2020 |
||||||
|---|---|---|---|---|---|---|
| Unrest- | Rest- | |||||
| ricted | ricted | 2020 | 2019 | |||
| INCOME: Income from charitable activities: |
Notes | Funds | Funds 6 |
Total 6 |
Total | |
| School fees receivable Other educational income |
2 3 |
13,575,683 1,266,463 |
13,575,683 1,266,463 |
13,869,392 1,195,844 |
||
| Donations | 137,537 | 137,537 | 244,307 | |||
| Investment income |
38,774 | 38,774 | 49,972 | |||
| Other trading activities: | ||||||
| Rents and lettings | 122,415 | 122,415 | 231,822 | |||
| Other Income (Furlough Claim) |
550,104 | 550,104 | ||||
| TOTAL INCOME | 15,553,439 | 137,537 | 15,690,976 | 15,591,337 | ||
| EXPENDITURE ON: | ||||||
| Charitable activities |
5 | 14,787,685 | 223,529 | 15,011,214 | 14,641,578 | |
| Cost ofraising funds | ||||||
| Fundraising Finance costs |
8 | 95,635 315,238 |
95,635 315,238 |
118,110 176,720 |
||
| TOTAL EXPENDITURE | 15,198,558 | 223,529 | 15,422,087 | 14,936,408 | ||
| NKT INCOME before gains on investments | 354,881 | (85,992) | 268,889 | 654,929 | ||
| Net gains on investments | 11 | 66,286 | 66,286 | 146,429 | ||
| NKT INCOME after gains on investments | 421,167 | (85,992) | 335,175 | 801,358 | ||
| Other recognised gains: | ||||||
| Re-measurement offuture remission |
liabilities | 18 | 97,437 | |||
| NET MOVEMKNT IN FUNDS |
421,167 | (85,992) | 335,175 | 898,795 | ||
| Fund balances brought forward (unrestricted) Fund balances brought forward (resu icted) |
14,765,646 | 2,431,453 | 14,765,646 2,431,453 |
13,857,346 2,440,958 |
||
| FUND BALANCES CARRIED FORWARD | 15,186,813 | 2,345,461 | 17,532,274 | 17,197,099 |
| Group | Charity | |||||
|---|---|---|---|---|---|---|
| Notes | 2020 | 2019 | 2020 | 2019 | ||
| FIXEDASSETS | I | f | ||||
| Tangible assets Investments Investments in subsidiaries |
10 11 11 |
16,460,383 2,212,715 - |
17,042,483 2,146,429 - |
14,205,019 2,212,715 7 |
14,793,136 2,146,429 7 |
|
| CURRENT ASSETS | 18,673,098 | 19,188,912 | 16,417,741 | 16,939,572 | ||
| Stocks Debtors Cash at bank and in hand |
12 13 |
6,429 784,099 6,298,539 |
5,052 969,618 6,864,619 |
6,429 1,380,967 5,543,132 |
5,052 1,430,244 6,265,756 |
|
| CREDITORS: Amounts | falling | 7,089,067 | 7,839489 | 6,930,528 | 7,701t052 | |
| due within one year |
14 | (4,071,052) | (5,563,871) | (3,541,802) | (5,054,251) | |
| NET CURRENT ASSETS | 3,018,015 | 2,275,418 | 3488,726 | 2,646,801 | ||
| TOTAL ASSETSLESSCURRENT | ||||||
| LIABILITIES | 21,691,113 | 21,464,330 | 19,806,467 | 19,586473 | ||
| CREDITORS: Amounts due after one year |
falling | 15 | (4,147,259) | (4,206,631) | (1,263,875) | (1,319,826) |
| Provisions | 18 | (11,580) | (60,600) | (11,580) | (60,600) | |
| NET ASSETS | 17,532,274 | 17,197,099 | 18,492,012 | 18,205,947 | ||
| FUNDS | ||||||
| RESTRICTED | 19 | 2,345,461 | 2,431,453 | 2,315,292 | 2,370,850 | |
| UNRESTRICTED | ||||||
| Designated General |
19 19 |
2,232,261 12,954,552 |
2,174,600 12,591,046 |
2,232,261 13,944,459 |
2,174,600 13,660,497 |
|
| 15,186,813 | 14,765,646 | 16,176,720 | 15,835,097 | |||
| TOTAL FUNDS | 17,532)274 | 17r197,099 | 18,492,012 | 18,205,947 |
| Cash flows from operating activities: | 2020 | 2019 | ||||
|---|---|---|---|---|---|---|
| Net cash (used in) / provided by operating activities Interest paid |
(215,032) (108,162) |
1,506,868 (124,825) |
||||
| Net cash (used in) / provided by operating activities |
(323,194) | 1/82,043 | ||||
| Cash flows from investing activities: |
||||||
| Dividends, interest and rents from investments Transfer to investments Proceeds from the sale ofproperty, plant &equipment Purchase ofproperty, plant &equipment |
38,774 (214,698) |
49,972 (2,000,000) 97,437 (989,021) |
||||
| Net cash used in investing activities |
(175,924) | (2,841,612) | ||||
| Cash flows from finaacing activities: | ||||||
| Repayments ofborrowing Cash inflows from new borrowing |
(66,962) | (61,057) | ||||
| Net cash used in financing activities |
(66,962) | (61,057) | ||||
| Change in cash and cash equivalents in the reporting |
period | (566,080) | (1,520,626) | |||
| Cash and cash equivalents at the beginning ofthe reporting |
period | 6,864,619 | 8,385,245 | |||
| Cash and cash equivalents at the end ofthe reportiag |
period | 6,298,539 | 6,864,619 | |||
| Reconciliation ofnet income to net cash flow from |
operating | activities | ||||
| Net cash inflow from operating activities: |
2020 | 2019 | ||||
| Net income for the reporting period Adjustments for: |
335,175 | 898,795 | ||||
| Depreciation charges Other recognised gains Dividends, interest and rents Irom investments Interest payable (Increase) / Decrease in stocks Net gains on investments Decrease / (Increase) in debtors (Decrease) / Increase in creditors Decrease in provision |
796,798 (38,774) 146,631 (1,377) (66,286) 185,520 (1,523,699) (49,020) |
738,065 (97,437) (49,972) 152,234 2,903 (146,429) (50,248) 216,174 (157,217) |
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| Net cash (used in) / provided by operating activities |
(215)032) | 1,506,868 | ||||
| The notes onpages 28 to 52form part ofthese accounts |
| Unrestricted | Restricted | 2020 | 2019 | |||||
|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Total | Total | |||||
| Extras Sundry income |
1,063,473 202,990 |
1,063,473 202,990 |
978,911 216,933 |
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| 1,266,463 | 1,266,463 | 1,195,844 | ||||||
| 4 | DONATIONS | |||||||
| Donations | comprise | the | following: | |||||
| Unrestricted | Restricted | 2020 | 2019 | |||||
| Funds | Funds | Total | Total | |||||
| Designated Fund donations Restricted donations (note Unrestricted donations |
(note 19) 19) |
137,537 | 137,537 | 1,858 242,449 |
||||
| 137,537 | 137,537 | 244,307 |
| TOTAL EXPENDITURE | |||||
|---|---|---|---|---|---|
| Staff | Deprec- | Other | Total | Total | |
| COStS | iation | COStS | 2020 | 2019 | |
| Cost ofgenerating funds: |
|||||
| Fundraising Costs Finance costs |
95,635 315,238 |
95,635 315,238 |
118,110 176,720 |
||
| 410,873 | 410,873 | 294,830 | |||
| Charitable activities: |
|||||
| Teaching Welfare Premises Marketing and publicity Support costs ofschooling Extras tk Trips Governance costs |
8,540,167 104,284 790,670 828,890 |
448 12,881 709,170 |
374,465 655,974 851,313 180,589 842,078 1,063,473 56,812 |
8,915,080 773,139 2,351,153 180,589 1,670,968 1,063,473 56,812 |
8,014,653 1,077,177 2,493,029 216,546 1,794,905 978,911 66,357 |
| Total Expenditure | 10,264,011 | 722,499 | 4,435,577 | 15,422,087 | 14,936,408 |
| GOVERNANCE | COSTS | 2020 | 2019 | ||
|---|---|---|---|---|---|
| Governance costs |
can be analysed | as follows: | |||
| Fees payable to auditor —audit & Indemnity insurance Other governance costs |
other services (see note 9) | 37,835 5,564 13,413 |
44,046 2,736 19,575 |
||
| Total | 56,812 | 66,357 | |||
| STAFFCOSTS | |||||
| Staff costs can be | analysed | as follows: | |||
| Group: | |||||
| 2020 | 2019 | ||||
| Wages and salaries Social security costs Pension costs |
8,271,435 741,446 1,251,130 |
7,600,601 722,383 870,219 |
|||
| Total | 10,264,011 | 9,193,203 | |||
| Charity: | |||||
| 2020 | 2019 | ||||
| Wages and salaries Social security costs Pension costs |
6,758,905 649,979 1,189,390 |
6,622,971 660,344 858,638 |
|||
| Total | 8,598,274 | 8,141,953 |
| onthly average number ofpersons employed, full |
and part time, during the year was: |
|
|---|---|---|
| Group: | ||
| 2020 | 2019 | |
| Educational Support staff |
Number 220 87 |
Number 207 90 |
| Total | 307 | 297 |
| Charity: | ||
| 2020 | 2019 | |
| Educational Support staff |
Number 184 78 |
Number 182 82 |
| Total | 262 | 264 |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| f60,001 - f70,000 870,001 - f80,000 f90,001-f100,000 8100,001 - 8110,000 f130,001 - f140,000 |
Number 5 1 1 I |
Number 4 3 |
||||
| f.140,001 - $150,000 | ||||||
| f160,001 - f170,000 | ||||||
| f170,001 - f180,000 | ||||||
| 10 | ||||||
| For these employees the number |
with | retirement | benefits accruing in: | |||
| Money purchase schemes was for which the contributions amounted |
to | 2020 5 f28,020 |
2019 4 f33,515 |
|||
| Defined benefit scheme was for which the contributions |
amounted | to | 5 f88,744 |
7 f89,756 |
| 8 | FINANCE COSTS | ||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| Unrestricted | Restricted | Total | Total | ||
| Bank &other loan interest Other finance costs |
146,631 168,607 |
146,631 168,607 |
152,234 24,486 |
||
| 315,238 | 315,238 | 176,720 | |||
| 9 | NET INCOME FOR THE YEAR | ||||
| This is stated after charging: |
| 2020 | 20]9 | ||||||
|---|---|---|---|---|---|---|---|
| Depreciation ofowned | assets | 796,798 | 738,065 | ||||
| Auditor's remuneration |
(including | VAT): | |||||
| Audit services: fees payable for the Audit services: fees payable for the Other services - taxation and other |
audit ofthe Trust's financial statements audit ofthe subsidiaries' financial statements services |
26,519 6,276 5,040 |
29,131 9,490 5,425 |
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| Operating lease rentals: |
|||||||
| Plant &machinery | 37,621 | 39,193 |
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| to | V |
| 2020 | 2019 | ||
|---|---|---|---|
| Opening Balance Transfer offunds from other designated Transfer offunds from PPET unrestricted Net gains on investment |
funds (see note 19) reserves |
2,146,429 66,286 |
148,476 1,851,524 146,429 |
| 2,212,715 | 2,146,429 |
| Charity: Shares at cost |
2020f 7 |
2019 7 |
|---|---|---|
| 2020 | 2019 | |
|---|---|---|
| TURNOVER | 220,048 | 205,746 |
| Cost ofsales | 149,012 | 253,990 |
| GROSS PROFIT / (LOSS) | 71,036 | (48,244) |
| Administrative expenses |
||
| OPERATING PROFIT / (LOSS) | 71,036 | (48,244) |
| Interest payable and similar charges |
||
| PROFIT / (LOSS)BEFORETAXATION | 71,036 | (48,244) |
| Taxation | ||
| PROFIT / (LOSS)FORTHE FINANCIAL YEAR AND RETAINED EARNINGS |
71,036 | (48,244) |
| INVESTMENTS (eontinued) | ||
|---|---|---|
| 2020 | 2019 | |
| Fixed and Current assets Current liabilities |
675,795 (653,002) |
455,747 (503,990) |
| 22,793 | (48,243) | |
| Called up share capital Profit and loss account |
1 22,792 |
1 (48,244) |
| 22,793 | (48,243) |
| 2020 | 2019 | ||
|---|---|---|---|
| Turnover Expenditure |
41,546 (412) |
52,425 (1,240) |
|
| Gross Profit | 41,134 | 51,185 | |
| Administrative | Expenses | (4,078) | (4,939) |
| Net profit before taxation | 37,056 | 46,246 | |
| Taxation | |||
| Net profit after taxation | 37,056 | 46,246 | |
| Current assets Current liabilities |
48,002 (10,940) |
56,639 (10,387) |
|
| 37,062 | 46,252 | ||
| Called up share capital Profit and loss account |
6 37,056 |
6 46,246 |
|
| 37,062 | 46,252 |
| Unrest- | Rest- | ||||
|---|---|---|---|---|---|
| ricted | ricted | 2020 | 2019 | ||
| INCOME: | Funds | Funds | Total | Total | |
| Income from charitable | activities: | 6 | |||
| School Fees receivable Other educational income |
2,197,772 113,440 |
2,197,772 113,440 |
1,371,640 152,984 |
||
| Donations | 5,493 | 5,493 | 19,643 | ||
| Other income | 109,045 | 109,045 | |||
| TOTAL INCOME | 2,420,257 | 5,493 | 2,425,750 | 1,544,267 | |
| EXPENDITURE ON: | |||||
| Charitable activities |
2,360,340 | 35,925 | 2,396,265 | 1,915,765 | |
| Cost ofraising funds | |||||
| Fundraising Finance costs |
81,219 | 81,219 | 400 84,899 |
||
| TOTAL EXPENDITURE | 2,441,559 | 35,925 | 2,477,484 | 2,001,064 | |
| NET MOVEMENT IN | FUNDS | (21,302) | (30,432) | (51,734) | (456,797) |
| Fund balances brought forward (unrestricted) Fund balances brought forward (restricted) |
(1,067,452) | 60,602 | (1,067,452) 60,602 |
(649,271) 99,218 |
|
| FUND (DEFICIT) / EARNINGS CARRIED FORWARD |
(1,088,754) | 30,170 | (1,058,584) | (1,006,850) |
| Notes | 2020 | 2019 | ||
|---|---|---|---|---|
| FIXEDASSETS | ||||
| Tangible assets | 2,255,364 | 2,249,348 | ||
| 2,255,364 | 2,249,348 | |||
| CURRENT ASSETS | ||||
| Debtors | 140,661 | 71,999 | ||
| Cash at bank and in hand | 716669 | 564 800 | ||
| 857,330 | 636,799 | |||
| CREDITORS: Amounts year |
falling due within one | ~3,287 895 | ~7006,193 | |
| NET CURRENT (LIABILITIES)/ ASSETS | ~430361 | ~369,394 | ||
| TOTAL ASSETSLESS | CURRENT | |||
| LIABILITIES | 1,824,799 | 1,879,954 | ||
| CREDITORS: Amounts | falling due after one year | ~2.883,383 | ~2,886,804 | |
| NET LIABILITIES | ~3008,504 | ~3,006,000 | ||
| FUNDS | ||||
| Restricted | 30,170 | 60,602 | ||
| Unrestricted Funds |
||||
| General | ~1088754 | ~3,067,432 | ||
| Total deficit | ~3,0538004 | ~8,006,800 |
| STOCKS (G | ROUP AND CHARITY) | ||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| f, | |||||
| Goods for resale | 6,429 | 5,052 | |||
| DEBTORS | |||||
| Group | Charity | ||||
| 2020 | 2019 | 2020 | 2019f | ||
| Trade debtors School fees Other debtors Prepayments and accrued income Amounts owed by group undertakings |
1,018 171,587 229,967 381,527 |
22,576 328,545 368,727 249,770 |
155,682 157,776 323,965 743,544 |
320,300 353,085 203,036 553,823 |
|
| 784,099 | 969,618 | 1,380,967 | 1,430,244 |
| CREDITORS: Am | ounts falling due within one |
year | |||
|---|---|---|---|---|---|
| Group | Charity | ||||
| 2020 f |
2019 | 2020 | 2019 8 |
||
| Current instalments School fees received Trade creditors Taxation and social Other creditors Accruals |
due on bank loans (note 17) in advance security payable |
65,297 1,576,530 311,663 206,521 1,692,272 218,769 |
83,753 2,355,040 954,016 217,555 1,738,987 214,520 |
48,631 1,315,158 230,398 206,521 1,550,598 190,496 |
83,753 2,060,184 873,495 217,555 1,627,084 192,180 |
| 4,071,052 | 5,563,871 | 3,541,802 | 5,054,251 |
| Group | Charity | |||
|---|---|---|---|---|
| 2020 | 2019 | 2020 | 2019 | |
| f, | ||||
| Bank loans (note 17) School fees received in advance |
4,109,723 37,536 |
4,158,228 48,403 |
1,226,339 37,536 |
1,271,423 48,403 |
| 4,147,259 | 4,206,631 | 1,263,875 | 1,319,826 |
| Group | Charity | |||
|---|---|---|---|---|
| Brought | forward | fees in advance | 2,403,443 | 2,108,587 |
| Cash received in Amounts utilised |
2019/20 in 2019/20 |
1,565,663 (2,355,040) |
1,304,291 (2,060,184) |
|
| Carried | forward | fees in advance | 1,614,066 | 1,352,694 |
| Bank loan | s repaya | ble by inst |
alments are due for rep |
ayment as follows: |
||
|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||
| Repayable Repayable Repayable Repayable |
within within within beyond |
one year one to two two to five five years |
years years |
65,297 147,470 455,271 3,506,982 |
83,753 1,544,460 1,532,231 1,081,537 |
|
| 4,175,020 | 4,241,981 | |||||
| y: | ||||||
| oans repayable by |
instalments | are due for repayment | as follows: | |||
| 2020 | 2019 | |||||
| 8 | ||||||
| Repayable Repayable Repayable Repayable |
within within within beyond |
one year one to two two to five five years |
years years |
48,629 47,470 155,271 1,023,600 |
83,753 44,460 145,427 1,081,537 |
|
| 1,274,970 | 1,355,177 |
| I/n-restricted | Fund | Fund balance as at In |
Income | Expenditure | Nel Income / (expenditure) |
Adjustments / Transfers |
Fund bnlnnce as nt |
|---|---|---|---|---|---|---|---|
| September 2019 |
31nAugust 2020 |
||||||
| Gignn Fund |
Bursary | 28,171 | (8,625) | (8,625) | 19,546 | ||
| PPS 2030 Fund |
Bursary | 2,146,429 | 66,286 | 66,286 | 2312,715 | ||
| Designated Total |
Funds | 2,174,600 | 66386 | (8,625) | 57,661 | 2,232361 | |
| General Fund | 12,591,046 | 15,553,439 | (15,189,933) | 254315 | 12,954,552 | ||
| Total | 14,765,646 | 15,619,725 | (15,198,558) | 311,976 | 15,186,813 |
| Un-restricted | Fund | Fund balance as at I" September |
Income | Expenditure | Netlacome/ (expenditure) |
Adjustments / Transfers |
Fund balance as at 31"August 2019 |
|---|---|---|---|---|---|---|---|
| 2018 | |||||||
| Scbolarsbip | Fund | 16,141 | (5,665) | (5,665) | (10,476) | ||
| Ginan Fund |
Bursary | 164/13 | Irsss | 12)58 | (13$,000) | 28,171 | |
| PPS 2030 Fund |
Bursary | 146,429 | 146,429 | 2,000,000 | 2,146/)29 | ||
| Designated Total |
Funds | 180,454 | 148487 | (5,665) | 142,622 | 12)51524 | 2,174,600 |
| GeneralFund | 13,676,$92 | 15,444,466 | (14478,788) | 765,678 | (13)51824) | 12,591,046 | |
| Total | 13,857346 | 15,592,753 | (14,684,453) | 908300 | 14,765,646 |
| Restricted Fund | Fund balance as at 1aSeptember 2019 |
Fund balance as at 1aSeptember 2019 |
Income | Expenditure | Net Income / (expenditure) |
Net Income / (expenditure) |
Adjustments / Transfers |
Fund balance as at31" |
||
|---|---|---|---|---|---|---|---|---|---|---|
| August 2020 | ||||||||||
| Open Funds | Amortisation | Other | ||||||||
| Bursary (general) | 118,911 | 62,231 | 18,298 | 43,933 | 162,844 | |||||
| Bursary (specific) | 141,301 | 35,615 | 102,039 | (66,424) | 74,877 | |||||
| Chapel | 76,991 | 3355 | 3,255 | 80,246 | ||||||
| Entrepreneurial | 241,064 | 241,064 | ||||||||
| BigSchool Room | 49,040 | 49,040 | ||||||||
| Sports Fund | 1,882 | 1,244 | (1.244) | 638 | ||||||
| Heritage Fund | 500 | 1,931 | 101 | 1,830 | 2,330 | |||||
| Gibraltar - IT A DT |
||||||||||
| Technology | 24,630 | 7,508 | (7,508) | (15,275) | 1,847 | |||||
| Gibraltar - Bursary | 5,493 | 5,493 | ||||||||
| Gibraltar - Library | 306 | 306 | ||||||||
| Closed Funds | ||||||||||
| Mansion Steps |
51,841 | 1,103 | (1,103) | 50,738 | ||||||
| Science Project | 10,895 | 1,557 | (1,557) | 9,339 | ||||||
| Sports Centre | 516,094 | 11,281 | (11,281) | 504,813 | ||||||
| Piano | 35,029 | 929 | (929) | 34,099 | ||||||
| College Freehold | 119,975 | 4,004 | (4,004) | 115,971 | ||||||
| Old Gymnasium | 204,477 | 6,835 | (6,835) | 197,642 | ||||||
| Sixth Form Centre | 113,955 | 3,870 | (3,870) | 110,085 | ||||||
| Campaign | 521,109 | 11,580 | (11,580) | 509,529 | ||||||
| Organ | 39,956 | 1,200 | (1,200) | 38,756 | ||||||
| Chapel Improvements |
74,165 | 4,478 | (4,478) | 69,687 | ||||||
| All Weather Pitch | 7,648 | 423 | (423) | 7,225 | ||||||
| Sports Facilities | 23,516 | 2,613 | (2,613) | 20,903 | ||||||
| Covid-19 Appeal | 29,012 | 14,547 | 14,465 | 14,465 | ||||||
| Paragon Parents Association |
22,500 | 1,500 | (1,500) | 21,000 | ||||||
| Gibraltar - IT A DT |
||||||||||
| Technology - closed |
35,668 | 22,926 | (22,926) | 15,275 | 28,017 | |||||
| Total | 2,431,453 | 137,537 | 74,299 | 149~0 | (85,992) | 2/45,461 |
| ~ The Paragon Parents' |
~ The Paragon Parents' |
~ The Paragon Parents' |
Association | Fund was | Fund was | established to |
raise funds towards | raise funds towards | the building | ofthe new |
|---|---|---|---|---|---|---|---|---|---|---|
| music centre at the Paragon School. | ||||||||||
| ~ The Gibraltar IT&DT Technology school over the last three years. |
Fund shows the funds | used to purchase | IT&DT equipment for the |
|||||||
| Comparative position as per 2018/19 Accounts: |
||||||||||
| Restricted Fund | Income | Expenditure | Net Income/ (expenditure) |
Fund balance as at1" |
Adjustments / Transfers |
Fund balance as |
||||
| September | at31" | |||||||||
| 2018 | August | |||||||||
| 2019 | ||||||||||
| Open Fuads | Amortisatioa | Other | ||||||||
| Bursmy (general) | 39,060 | 16,666 | 22,394 | 183,220 | (86,703) | 118,911 | ||||
| Bursary (spemfic) | 167,768 | 113,170 | 54,598 | 86,703 | 141,301 | |||||
| Chapel | 7,245 | 7,553 | (308) | 111,159 | (33,860) | 76,991 | ||||
| Entrepreneurial | 2,827 | (2,827) | 243,891 | 241,064 | ||||||
| Big School Room | 49,040 | 49,040 | ||||||||
| Sports Fund | 7,132 | 1.235 | 5,897 | 12,354 | (16,369) | 1,882 | ||||
| Heritage Fund |
500 | 500 | 500 | |||||||
| Gibraltar —IT&DT Technology |
14,625 | 35,561 | (20,936) | 45,566 | 24,630 | |||||
| Gibraltar —Bursary |
4,637 | 4,637 | ||||||||
| Gibraltar - Library | 382 | 226 | 156 | 150 | 306 | |||||
| Closed Fuads | ||||||||||
| Mansion Steps | 1,103 | (1,103) | 52,944 | 51,841 | ||||||
| Science Project | 1,557 | (1,557) | 12,452 | 10,895 | ||||||
| Sports Centre | 11,281 | (11,281) | 527,375 | 516,094 | ||||||
| Piano | 929 | (929) | 35,958 | 35,029 | ||||||
| College Freehold | 4,004 | (4,004) | 123,979 | 119,975 | ||||||
| Old Gymnasium | 6,835 | (6,835) | 211,312 | 204,477 | ||||||
| Sixth Form Centre | 3,870 | (3,870) | 117,825 | 113,955 | ||||||
| Campaign | 11,580 | (11,580) | 532,689 | 521,109 | ||||||
| Organ | 1,200 | (1,200) | 41,156 | 39,956 | ||||||
| Chapel Improvements |
4,479 | (4,479) | 44,784 | 33,860 | 74,165 | |||||
| All Weather Pitch | 423 | (423) | 8,071 | 7,648 | ||||||
| Sports Faclhties | 2,383 | (2,383) | 9,530 | 16,369 | 23,516 | |||||
| Paragon Parents Association |
1,501 | (1,501) | 24,001 | 22,500 | ||||||
| Paragon Nursery Fund |
1,100 | 1,100 | ||||||||
| Gibraltar - IT&DT |
||||||||||
| Technology closed |
17,834 | (17,834) | 53,502 | 35,668 | ||||||
| Total | 242,449 | 70,214 | 181,740 | (9,505) | 2,440,95S | 2431,453 |
| Unrestricted | Restricted | Endowment | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | Funds | 2020 | |
| Tangible Fixed Assets Investments Current Assets Liabilities |
14,728,114 2,212,715 6,475,875 (8,229,891) |
1,732,269 613,192 |
16,460,383 2,212,715 7,089,067 (8,229,891) |
|
| 15,1865813 | 2,345,461 | 17,532,274 |
| Unrest- | Rest- | ||||
|---|---|---|---|---|---|
| ricted | ricted | 2019 | 2018 | ||
| INCOME: Income from charitable activities: |
Funds | Funds | Total | Total 5 |
|
| School Fees receivable Other educational income |
13,869,392 1,195,844 |
13,869,392 1,195,844 |
12,669,577 1,320,823 |
||
| Donations | 1,858 | 242,449 | 244,307 | 542,172 | |
| Investment income |
49,972 | 49,972 | 21,936 | ||
| Other trading activities: | |||||
| Rents and lettings Profit on disposal offixed assets |
231,822 | 231,822 | 300,354 11,926 |
||
| TOTAL INCOME | 15448,888 | 242,449 | 15,591,337 | 14,866,788 | |
| EXPENDITURE ON: | |||||
| Charitable activities |
14,389,624 | 251,954 | 14,641,578 | 13,708,688 | |
| Cost ofraising funds | |||||
| Fundrai sing Finance costs |
118,110 176,720 |
118,110 176,720 |
94,132 194,002 |
||
| TOTAL EXPENDITURE | 14,684,454 | 251,954 | 14,936,408 | 13,996,822 | |
| NET INCOME before gains on investments | 664,434 | (9,505) | 654,929 | 869,966 | |
| Net gains on investments | 146,429 | 146,429 | |||
| NKT INCOME after gains on investments | 810,863 | (9,505) | 801&358 | 869,966 | |
| Other recognised gains / (losses): |
|||||
| Loss on Fixed Assets Re-measurement offuture remission |
liabilities | 97,437 | 97,437 | (178,586) (324,990) |
|
| NET MOVEMENT IN FUNDS | 908,300 | (9,505) | 898,795 | 366,390 | |
| Fund balances brought forward (unrestricted) Fund balances brought forward (restricted) |
13,857,346 | 2,440,958 | 13,857,346 2,440,958 |
13,779,622 2,152,292 |
|
| FUND BALANCES CARRIED FORWARD | 14,765,646 | 2,431,453 | 17,197,099 | 16,298404 |