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|CONTENTS||Page|
|Governors,
Offrcers and Advisors|||
|Governors'
Report||2-7|
|Independent
Auditor's|Report|8-9|
|Statement ofFinancial|Activities|10|
|Balance Sheet|||
|Statement ofCash Flows||12-13|
|Notes to the Financial|Statements|14-26|
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|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||Total|Total|Funds|Funds|
|||2023|2023|2023|2022|
||Notes|||6||
|Income from:||||||
|Charitable
activities||||||
|School fees receivable||3,024,796||3,024,796|2,731,499|
|Ancillary
trading income||275,720||275,720|289,260|
|Other trading
activities||||||
|Other activities||97,101||97,101|100,798|
|Investments||||||
|Bank and other interest||8,766||8,766|259|
|Voluntary
sources||||||
|Grants and donations|||224,330|224,330|10,700|
|Other income||10,232||10,232|1,313|
|Total income||3,416,615|224430|3,640,945|3,133,829|
|Expenditure
on:||||||
|Raising funds||||||
|Financing
costs|8|20,104||20,104|10,045|
|Charitable
activities||||||
|Education|7|3,554,792|234,330|3,789,122|3,518,017|
|Total expenditure|7|3,574,896|234@30|3,809,226|3,528,062|
|Net (expenditure)||(158,281)|(10,000)|(168,281)|(394,233)|
|Transfers between funds||||||
|Net movement
in funds||(158,281)|(10,000)|(168,281)|(394,233)|
|Fund balances brought||||||
|forward||||||
|at 1 September 2022||6,573,017|10,000|6,583,017|6,977,250|
|Fund balances carried||||||
|forward at 31August 2023||6,414,736||6,414,736|6,583,017|
##
|||2023|2022|
|---|---|---|---|
||Notes|||
|FIXEDASSETS||||
|Tangible assets|10|6,501,669|6,420, 104|
|CURRKNT ASSETS||||
|Debtors|11|655,559|557,349|
|Cash and deposits||1,015,320|1,409,400|
|||1,670,879|1,966,749|
|CURRENT LIABILITIES||||
|Creditors payable within one year
NETC~ASSETS|12|(1,535460)
135,619|(1,460,109)
506,640|
|TOTAL ASSETSLESSCURRENT||||
|LIABILITIES||6,637,288|6,926,744|
|LONG-TERM LIABILITlKS||||
|Creditors payable after one year|13|(222,552)|(343,727)|
|NET ASSETS||6,414,736|6,583,017|
|REPRESENTED BY:||||
|UNRESTRICTED
FUNDS||||
|General Reserve|14|135,619|496,640|
|Designated
Fixed Asset Fund|14|6,279,117|6,076,377|
|RESTRICTED FUNDS|14||10,000|
|||6,414,736|6,583,017|
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|||||2023||2022||
|---|---|---|---|---|---|---|---|
||||Notes|||||
|Net cash inflow from operations||||197,062|||6,402|
|Cash flows from investing|activities:|||||||
|Investment
income receipts||||8,766|259|||
|Payments
for tangible fixed assets||||(469,813)|(531,747)|||
|Net cash used in investing|activities|||(461,047)||(531,488)||
|Cash flows from financlng|activities:|||||||
|Loan payments||||(109,991)|(113,927)|||
|Finance costs paid||||(20,104)|(10,045)|||
|Net cash used in financial activities||||(130,095)||(123,972)||
|Change ln cash and cash
reporting
period|equivalents|in the||(394,080)||(649,058)||
|Cash and cash equivalents|at 1 September 2022|||1,409,400||2,058,458||
|Cash and equivalent
at 31August 2023||||1,015,320||1,409,400||
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|||||2023|2023|2022||
|---|---|---|---|---|---|---|---|
|(i)|Net cash inflow from operations|||||||
||Net (expenditure)|per the SOFA|||(168,281)||(394,233)|
||Elimination
ofnon-operating||cashflows:|||||
||-Investment
income|||(8,766)||(259)||
||- Financing
costs|||20,104||10,045||
||Depreciation
charge|||293,237||292,750||
||Loss on disposal offixed assets|||95,011||||
||(increase)/decrease|in debtors||(98,210)||164,923||
||Increase/(decrease)|in creditors||63,967||(66,824)||
||||||365,343||400,635|
||Net cash provided|from operations|||197,062||6,402|
|||||||Non||
|Analysis ofmovements
in net cash||||2022|Cash flows|Cash flow|2023|
|||||||g||
|Cash at bank and in hand||||1,409,400|(394,080)||1,015,320|
|Total cash and cash equivalents||||1,409,400|(394,080)||1,015,320|
|Bank Loan (due withm
one||year)||(119,134)|(11,184)||(130,318)|
|Bank Loan (due after one year)||||(343,727)|121,175||(222,552)|
|Total||||946,539|(284,089)||662,450|
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|2.|CHARITABLE ACTIVITIES —FEES|CHARITABLE ACTIVITIES —FEES|CHARITABLE ACTIVITIES —FEES|RECEIVABLE|2023||2022f|
|---|---|---|---|---|---|---|---|
||Fees receivable
consist||of:|||||
||Schoolfees||||3,061,929|2,786,946||
||Less: total scholarships||and bursaries||(37,133)||(55,447)|
||||||3,024,796|2,731,499||
||Scholarships,
bursaries||and other awards|were paid to 8 pupils (2022: 13). Within
this means-tested|||bursaries|
||totalling 6 13,598|were paid to 6 pupils||(2022:f26,525 to 9pupils).||||
|3.|CHAIHTABLEAC~S —ANCILLARY TRADING INCOME||||2023|2022||
||Extras||||181,064|232,891||
||Entrance
and registration||fees||11,605||8,737|
||School bus income||||29,444|26,405||
||Educational
grants||||45,807|14,075||
||Deposits forfeited||||7,800||7,152|
||||||275,720|289,260||
|4.|OTHER TRADING|A~S|||2023||2022|
||External lets||||97,101|100,798||
|5.|BANK AND OTHER INTEREST|||||||
||||||2023||2022|
||||||g|||
||Bank interest||||8,766||259|
|6.|GRANTS, DONATIONS &LEGACIES||||2023||2022|
||Donations||||224,330||10,700|
||||||224,330||10,700|
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|7.|ANALYSIS OF EXPENDITURE|ANALYSIS OF EXPENDITURE|Staff costs|Depreciation||Total|
|---|---|---|---|---|---|---|
||||(note 8)|(note 9)|Other|2023|
|(a)|Total expenditure||g||||
||Cost ofraising funds||||||
||Financing
costs (note 8)||||20,104|20,104|
||Total costs ofraising funds||||20,104|20,104|
||Charitable
expenditure||||||
||Education||||||
||Teaching||1,672,340||268,278|1,940,618|
||Welfare||150,280||124,675|274,955|
||Premises||106,401|293,362|507,301|907,064|
||Support costs snd|governance|363,430||303,055|666,485|
||Total charitable|expenditure|2,292,451|293@62|1,203@09|3,789,122|
||Total expenditure||2,292,451|293@62|1,223,413|3,809,226|
||COMPARATIVE|ANALYSIS OF|||||
||EXPENDITURE||Staff costs|Depreciation||Total|
||||(note 8)|(note 9)|Other|2022|
|(a)|Total expenditure||g||g|8|
||Cost ofraising funds||||||
||Financing
costs (note 8)||||10,045|10,045|
||Total costs ofraising funds||||10,045|10,045|
||Charitable
expenditure||||||
||Education||||||
||Teaching||1,445,363||370,266|1,815,629|
||Welfare||129,464||83,733|213,197|
||Premises||103,599|292,750|441,573|837,922|
||Support costs snd|governance|381,783||269,486|651,269|
||Total charitable|expenditure|2,060,209|292,750|1,165,058|3,518,017|
||Total expenditure||2,060,209|292,750|1,175,103|3,528,062|
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|(b)|Governance
in support
costs|2023|2022I|
|---|---|---|---|
||Governance
costs include:|||
||Remuueration
paid to auditor (inclusive ofVAT) for:|||
||Audit services|21,620|19,020|
||Other services|||
|8.|FINANCING
COSTS||||||2023|2022f|
|---|---|---|---|---|---|---|---|---|
||Loan interest||||||20,104|10,045|
|9.|STAFF COSTS||||||2023|2022|
||The aggregate
payroll costs||for the|year were as||follows:|||
||Wages and salaries||||||1,966,780|1,649,015|
||Social security costs||||||156,925|164,089|
||Other pension costs||||||168,746|247,105|
||||||||2,292,451|2,060,209|
||None ofthe Governors received any||||remuneration|or other benefits &om The Mall SchooL|||
||Aggregate
employee-benefits||ofkey management|||personnel|358,865|466,376|
||||||||2023|2022|
||||||||Number|Number|
||Number ofhigher paid employees|||in bands of:|||||
||f.60,001 to f70,000||||||||
||f70,000toI80,000||||||||
||f,100,001 - f.110,000||||||||
||The number
with retirement||benefits||accruing||||
||- in Defined Contribution|schemes||was|||||
||ofwhich the contributions|amounted|||to||34,531|4,476|
||—in Defined Benefit schemes||was||||||
||ofwhich the contributions|amounted|||to|||65,857|
##
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||The average number|ofthe School's|employees
during|the year was 5|6 (2022:54).|||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||||||Number|Number|
||Teaching|||||34|30|
||Welfare, premises,|support||||22|24|
|||||||56|54|
|10.|TANGIBLE FIXEDASSETS||Freehold|Furniture,||||
||||land and|fittings and|Electrical|Motor||
||||buildings|equipment|equipment
f|Vehicles|Total|
||Cost|||||||
||At I September 2022||9,331,818|1,211,300|496,902|132,954|11,172,974|
||Additions||456,168|12,614|1,031||469,813|
||Disposals||(108,000)|(10,654)|||(118,654)|
||At 31August 2023||9,679,986|1,213,260|497,933|132,954|11,524,133|
||Depreciation|||||||
||At 1 September 2022||3,219,590|1,002,231|423,169|107,880|4,752,870|
||Eliminated
on disposal||(15,120)|(8,523)|||(23,643)|
||Charge for the year||158,385|75,567|48,237|11,048|293,237|
||At 31August 2023||3,362,855|1,069,275|471,406|118,928|5,022,464|
||Net book value|||||||
||At 31August 2023||6,317,131|143,985|26,527|14,026|6,501,669|
||At 37August 2022||6,112,228|209,069|73,733|25,074|6,420, 104|
|11.|DEBTORS|||||2023|2022|
||Fees and extras|||||541,645|469,501|
||Prepaymenis
and accrued income|||||113,914|87,848|
|||||||655,559|557,349|
##
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|12.|CREDITORS: amounts
within one year|CREDITORS: amounts
within one year|falling due|2023|2022f|
|---|---|---|---|---|---|
||Bank loan (see note 13)|||130,318|119,134|
||Deposits from parents|||225,463|209,163|
||Fees received &om parents in advance ofterm|||868,219|812,146|
||Trade creditors|||147,329|95,555|
||Taxation and social security|||67,317|50,897|
||Other creditors|||5,760|32,051|
||Accruals
and deferred|income||90,854|141,163|
|||||1,535,260|1,460,109|
|13.|CREDITORS: amounts||falling due after|2023|2022|
||more than one year|||||
||Bank loan repayable|by instalments||||
||Due two to 5years|||222,552|343,727|
|||||222,552|343,727|
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|ANALYSIS OFNET ASSETS|BETWEEN FUND|S|||
|---|---|---|---|---|
||Unrestricted|Unrestricted|Restricted|Total|
||Designated|General||2023|
|||||g|
|Tangible fixed assets|6,501,544|||6,501,544|
|Net current assets||135,744||135,744|
|Long term liabilities|(222,552)|||(222,552)|
||6,278,992|135,744||6,414,736|
|COMPARATIVE ANALYSIS|OF NET ASSETS|BETWEEN FUNDS|||
||Unrestricted|Unrestricted|Restricted|Total|
||Designated|General
f||2022|
|Tangible fixed assets|6,420, 104|||6,420, 104|
|Net current assets||496,640|10,000|506,640|
|Long term liabilities|(343,727)|||(343,727)|
||6,076,377|496,640|10,000|6,583,017|
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||Plant and machinery|Plant and machinery|Land and|buildings|
|---|---|---|---|---|
||2023|2022|2023|2022|
|In 1year
In 2-5 years|8,228
15,918|8,228
24,146|52,920|52,920
52,920|
|Over 5 years|||||
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|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||Total|Total|Funds|
|||2022|2022|2022f|
|Income from:|||||
|Charitable
activities|||||
|School fees receivable||2,731,499||2,731,499|
|Ancillary
trading|income|289,260||289,260|
|Other trading
activities|||||
|Other activities||100,798||100,798|
|Investments|||||
|Bank aud other interest||259||259|
|Voluntary
sources|||||
|Grants and donations|||10,700|10,700|
|Other||1,313||1,313|
|Total income||3,123,129|10,700|3,133,829|
|Expenditure
on:|||||
|Raising funds|||||
|Financing
costs||10,045||10,045|
|Chatftable
activities|||||
|Education||3,517,317|700|3,518,017|
|Total expenditure||3,527,362|700|3,528,062|
|Net (expenditure)|income|(404,233)|10,000|(394,233)|
|Transfers between|funds||||
|Net movement
in|funds|(404,233)|10,000|(394433)|
|Fund balances brought|||||
|forwanl|||||
|at 1 September 2021||6,977,250||6,977,250|
|Fund balances carried|||||
|forward at|||||
|31August 2022||6,573,017|10,000|6,583,017|