| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Funds | Fund | 2021 | 2020 | ||
| Notes £ | £ | £ | £ | ||
| INCOME: | |||||
| Donations | 6,794 | 6,794 | 2,204 | ||
| Government grants | 72,054 | 72,054 | 151,778 | ||
| Charitable activities: | |||||
| College fees | 3 | 4,994,127 | 4,994,127 | 5,443,767 | |
| Other educational activities | 3 | 223,397 | 223,397 | 315,570 | |
| Ancillary trading income | 3 | 111,391 | 111,391 | 129,756 | |
| Other trading activities | 4 | 26,653 | 26,653 | 60,003 | |
| Total incoming resources | 5,355,568 | 78,847 5,434,415 | 6,103,078 | ||
| EXPENDITURE: | |||||
| Charitable activities: | |||||
| College operating costs | 6,058,903 | 78,847 6,137,750 6,113,550 | |||
| Total expenditure | 6,058,903 | 78,847 6,137,750 | 6,113,550 | ||
| NET OPERATING (DEFICIT) | (703,335) | (703,335) | (10,472) | ||
| Gain on revaluation of investment property | 175,000 | 175,000 | 602,089 | ||
| Write-dpwn of other tangible fixed assets | (1,659,059) | (1,659,059) | |||
| NET (EXPENDITURE)/INCOME | |||||
| (including property revaluation and fixed | |||||
| asset write-down) | (2,187,394) - (2,187,394) | 591,617 | |||
| Funds brought forward 1 September 2020 | 4,001,151 1,336 4,002,487 3,410,870 | ||||
| Funds carried forward 31 August 2021 | 14 | 1,813,757 | 1,336 1,815,093 | 4,002,487 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| FIXED ASSETS | ||||||
| Tangible assets | 8 | 2,237,381 | 4,629,663 | |||
| CURRENT ASSETS | ||||||
| Residential property for sale | 8 | 875,000 | ||||
| Debtors | 9 | 103,797 | 138,112 | |||
| Cash at bank and in hand | 1,126,088 | 1,308,336 | ||||
| 2,104,885 | 1,446,448 | |||||
| CREDITORS: Amounts falling due | ||||||
| within one year | 10 | 1,914,481 | 1,424,137 | |||
| NET CURRENT ASSETS | 190,404 | 22,311 | ||||
| TOTAL ASSETS LESS CURRENT | ||||||
| LIABILITIES | 2,427,784 | 4,651,974 | ||||
| CREDITORS: Amounts falling due | ||||||
| after more than one year | 11 | 612,690 | 649,487 | |||
| TOTAL NET ASSETS | 1,815,093 | 4,002,487 | ||||
| FUNDS OF THE CHARITY: | ||||||
| Restricted funds | 14 | 1,336 | 1,336 | |||
| Unrestricted funds | 14 | 984,443 | 3,346,837 | |||
| Fair value reserve | 14 | 829,314 | 654,314 | |||
| TOTAL FUNDS | 14 | 1,815,093 | 4,002,487 |
| 2021 | 2020 | |
|---|---|---|
| £ £ | £ £ | |
| Cash flows from operating activities | ||
| Net movement in funds | (2,187,394) | 591,618 |
| Interest payable | 10,703 | 14,793 |
| Depreciation | 96,866 | 89,493 |
| Gain on investment property valuation | (175,000) | (602,089) |
| Write-down of fixed assets | 1,659,059 | |
| Decrease in debtors | 34,315 | 60,991 |
| Increase/(Decrease) in creditors | 541,290 | (157,906) |
| 2,167,233 | (594,718) | |
| Cash (absorbed) by operating activites | (20,161) | (3,100) |
| Cash flows from investing activites | ||
| Purchase of tangible fixed assets | (63,643) | (30,495) |
| Net cash used by investing activities | (63,643) | (30,495) |
| Cash flows from financing activities | ||
| Bank loan repayments | (87,741) | (84,421) |
| Interest | (10,703) | (14,793) |
| Net cash used by financing activites | (98,444) | (99,214) |
| Change in cash in year | (182,248) | (132,809) |
| Cash at the beginning of the year | 1,308,336 | 1,441,145 |
| Cash at the end of the year | 1,126,088 | 1,308,336 |
| Balance at Cash flow | Balance at | |
|---|---|---|
| 1 September 31 | August | |
| 2020 2021 | ||
| Net cash | ||
| Cash at bank and in hand | 1,308,336 (182,248) | 1,126,088 |
| 1,308,336 (182,248) | 1,126,088 | |
| Debt | ||
| Bank loan: | ||
| Debt due within 1 year | (87,708) (756) |
(88,464) |
| Debt due after 1 year | (372,114) 88,497 |
(283,617) |
| (459,822) 87,741 |
(372,081) | |
| Total | 848,514 (94,507) |
754,007 |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| College fees | ||
| Gross tuition fees | 5,454,573 | 5,921,481 |
| Less: scholarships, bursaries, discounts and allowances | (460,446) | (477,714) |
| 4,994,127 | 5,443,767 | |
| Other educational activities | ||
| Language, music, dance and other tuition | 199,914 | 233,224 |
| College trips and courses | 19,523 | 73,918 |
| Other activities | 3,961 | 8,428 |
| 223,397 | 315,570 | |
| Ancillary trading income | ||
| Coach, taxis and other pupil travel | 70,151 | 81,766 |
| Exam fees | 5,367 | 3,563 |
| Pupil insurance | 8,592 | 10,352 |
| Registration & entrance fees | 15,756 | 13,528 |
| After-school clubs | 823 | 3,139 |
| Other activities | 10,702 | 17,408 |
| 111,391 | 129,756 | |
| 4. ACTIVITIES FOR GENERATING FUNDS | ||
| 2021 | 2020 | |
| £ | £ | |
| Letting of College facilities | 25,653 | 58,003 |
| Non-repayable acceptance fees and charges for late fees | 1,000 | 2,000 |
| 26,653 | 60,003 | |
| 5. EXPENDITURE | ||
| The year's net operating deficit is stated after charging | ||
| 2021 | 2020 | |
| £ | £ | |
| Depreciation - owned assets | 96,866 | 89,493 |
| Operating lease rentals | 34,495 | 21,959 |
| Auditors' remuneration for audit | 7,000 | 7,000 |
| Auditors' remuneration for other services | 5,000 | 5,000 |
| Bank loan interest | 10,703 | 14,793 |
| Governors' liability insurance | 964 | 964 |
| Staff costs comprise: | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Salaries and wages | 3,156,294 | 3,042,472 |
| Social security | 306,029 | 292,866 |
| Pension contributions | 529,266 | 512,398 |
| 3,991,588 | 3,847,736 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Full-time | Full-time | |||
| Individuals | equivalent | Individuals | equivalent | |
| Teaching staff | 80 | 62 | 79 | 63 |
| Non-teaching staff | 30 | 20 | 34 | 23 |
| 110 | 82 | 113 | 86 |
| Staff 2021 2020 | Staff 2021 2020 | Staff 2021 2020 | Staff 2021 2020 | Staff 2021 2020 | |
|---|---|---|---|---|---|
| Costs | Other Depreciation Total Total | ||||
| Charitable activities | |||||
| College operating costs | |||||
| Teaching | 3,071,843 | 247,343 | 37,082 | 3,356,268 | 3,649,813 |
| Welfare | 686,725 | 6,643 | 693,367 | 618,107 | |
| Premises | 176,074 | 504,601 | 46,498 | 727,173 | 837,275 |
| Support | 841,286 | 440,056 | 6,643 | 1,287,984 | 954,564 |
| Governance | 72,958 | 72,958 | 53,791 | ||
| Total resources expended | 4,089,202 | 1,951,682 96,866 | 6,137,750 6,113,550 |
| Fixtures, | ||||||
|---|---|---|---|---|---|---|
| Long | Fittings, | |||||
| Leasehold | Furniture | |||||
| Investment | Land and | Motor | and | |||
| property | Property | Vehicles | Equipment | Computers | Total | |
| £ | £ | £ | £ | £ | £ | |
| COST OR VALUATION | ||||||
| At 1 September 2020 | 700,000 | 5,211,151 | 97,584 | 1,625,846 | 391,991 | 8,026,571 |
| Additions | 15,029 | 48,614 | 63,643 | |||
| Revaluation | 175,000 | 175,000 | ||||
| Reclassification | (875,000) | (875,000) | ||||
| Write-down | (1,536,366) | (70,750) | (51,943) | (1,659,059) | ||
| At 31 August 2021 | 3,674,785 | 97,584 | 1,570,125 | 388,662 | 5,731,155 | |
| DEPRECIATION | ||||||
| At 1 September 2020 | 1,437,404 | 97,584 | 1,503,699 | 358,222 | 3,396,909 | |
| Charge for the year | 66,426 | 30,440 | 96,866 | |||
| At 31 August 2021 | 1,437,404 | 97,584 | 1,570,125 | 388,662 | 3,493,774 | |
| NET BOOK VALUE | ||||||
| At 31 August 2021 | 2,237,381 | 2,237,381 | ||||
| At 31 August 2020 | 700,000 | 3,773,747 | 122,147 | 33,769 | 4,629,663 |
| 9. DEBTORS | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Debtors for fees and lettings | 24,462 | 24,832 |
| Prepayments and accrued income | 79,335 | 113,280 |
| 103,797 | 138,112 | |
| 10. CREDITORS: Amounts falling due within one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Bank loan | 88,464 | 87,708 |
| Trade creditors | 237,497 | 187,493 |
| Fees received in advance | 1,280,036 | 857,696 |
| Repayable acceptance fees | 26,695 | 24,250 |
| Social security and other taxes | 74,313 | 72,894 |
| Other creditors | 59,003 | 57,865 |
| Accrued expenses | 148,473 | 136,231 |
| 1,914,481 | 1,424,137 |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Bank loan | 283,617 | 372,114 |
| Repayable acceptance fees | 295,838 | 277,373 |
| Fees received in advance | 33,235 | |
| 612,690 | 649,487 |
| Fees received in advance comprise the following: | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Fees received in respect of the next academic year | 1,280,036 | 857,696 |
| Fees received in respect of subsequent academic years | 33,235 | |
| 1,313,271 | 857,696 |
| The Charity's borrowings mature as follows: | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Bank loans: | ||
| In less than one year | 88,464 | 87,708 |
| In more than one year but less than two years | 91,154 | 90,375 |
| In more than two years but less than five years | 192,463 | 281,739 |
| After five years | ||
| 372,081 | 459,822 |
| Balance at | Write-down | Balance at | ||||
|---|---|---|---|---|---|---|
| 1 September | Incoming | Revaluation | Resources | affixed | 31 August | |
| 2020 | Resources | Gain | Expended | assets | 2021 | |
| £ | £ | £ | £ | £ | £ | |
| Unrestricted funds | 3,346,837 | 5,355,568 | 6,058,903 | 1,659,059 | 984,443 | |
| Fair value reserve | 654,314 | 175,000 | 829,314 | |||
| Restricted funds; | ||||||
| Government Grants | 72,054 | 72,054 | ||||
| Equipment Fund | 1,336 | 6,794 | 6,794 | 1,336 | ||
| 1,336 | 78,847 | 78,848 | 1,336 | |||
| Total funds | 4,002,487 | 5,434,415 | 175,000 | 6,137,751 | 1,659,059 | 1,815,093 |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Expiring: | ||
| - within one year | 6,043 | 18,368 |
| - between two and five years | 2,994 | 9,037 |
| 9,037 | 27,405 |
| Unrestricted | Unrestricted | Restricted | Restricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|
| Funds | Fund | 2020 | |||||
| £ | £ | £ | |||||
| INCOME: | |||||||
| Donations | 2, | 204 | 2,204 | ||||
| Government Grants | 151, | 778 | 151,778 | ||||
| Charitable activities: | |||||||
| College fees | 5,443,767 | 5 | ,443,767 | ||||
| Other educational activities | 315,570 | 315,570 | |||||
| Ancillary trading income | 129,756 | 129,756 | |||||
| Other trading activities | 60,003 | 60,003 | |||||
| Interest receivable | |||||||
| Total incoming resources | 5,949,096 | 153, | 982 | 6 | ,103,078 | ||
| EXPENDITURE: | |||||||
| Charitable activities: | |||||||
| College operating costs | 5,959,568 | 153,982 | 6,113,550 | ||||
| Total expenditure | 5 | ,959,568 | 153 | ,982 | 6,113,550 | ||
| Gain on investment property revaluation | 602,089 | 602,089 | |||||
| NET INCOME | 591,617 | 591,617 | |||||
| Funds brought forward 1 September 2019 | 3 | ,409,534 | 1 | ,336 | 3,410,870 | ||
| Funds carried forward 31 August 2020 | 4 | ,001,151 | 1 | ,336 | 4,002,487 | ||
| 22. FINANCIAL INSTRUMENTS | |||||||
| 2021 | 2020 | ||||||
| £ | £ | ||||||
| Financial liabilities measured at amortised cost | 727,849 | 761,445 | |||||
| Interest on financial liabilities measured at amortised cost | 10,703 | 14,793 |