2020-08-31-accounts - Halstead St Andrew's School Trust

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CONTENTS			Page
Directors, Officers and Advisers
Report ofthe Directors			4-10
Report ofthe Auditors			11 - 13
Consolidated Statement	of Financial	Activities	14
Consolidated Balance Sheet			15
Company Balance Sheet			16
Cash Flow Statement			17
Notes to the Financial Statements			18-25
Detailed Profit and Loss	Account		Appendix

Directors ofthe Company Governors ofthe School	Directors ofthe Company Governors ofthe School	MrJ.Bueno		Appointed	01.09.2020
		Ms W-L Chua		Appointed	01.09.2020
		Mr W J Henderson-Deeves		Appointed	01.09.2020
		Mr JW Kerr
		Dr C LMcShane
		Mr M R Neil
		Mrs C Phillips
		Mr L Pytel
		Mr K Reesby
		Miss R Ross
		Mr J A BSpeed MrJ M PTaylor (Chair)		Appointed	24.11.2020
		Mr S D Taylor
Company	Secretary	MrAG Law
Headmaster		Mr A K Perks Mr D P Fitzgerald		Retired 31.08.2020 Appointed 01.09.2020
Registered	Office	Church Hill House
		Horsell, Woking
		Surrey GU21 4QW
Auditors		HPCA Ltd
		Chartered Accountants
		Station House, Connaught	Road
		Brookwood GU24 OER
Bankers		Lloyds Bank pic
		Woking GU1 3ZR
		Barclays Bank pic
		Woking GU21 6AE
Legal Advisers		Veale Wasbrough Bristol BS15WS
		GBH Law Ltd
		Elstead GU8 6LB

Senior School Destinations	Senior School Destinations	2019/20
			Year 6		Year 7	Year 8		Total
Charterhouse
Dumpton School
Famborou h Hill
Gordon's School
Hall Grove
Halliford School
Hampton School
Heathfield, Ascot
Hoe Valle
Kin Edward's School Witic
LVS Ascot
More House School
RGS Guildford
Salesian Colic e
Sir William Perkins's
St. Edmund's School
St.Geor e's Colic e
St. John's School,	Leatherhead
The International	School, E	t
Wellin on Calle	e
Wokin Hi h School
				23			14		39

					2020	2019
			Unrestricted	Restricted	Total funds	Total funds
			fund	funds
		Notes	f.	f
INCOME AND ENDOWMENTS FROM Donations and legacies		2	4,687	11,749	16,436	50,537
Charitable activities Teaching		4	3,852,855		3,852,855	3,677,966
Investment income			557		557	2,288
Total			3,858,099	11,749	3,869,848	3,730,791
EXPENDITURE ON
Charitable activities Teaching Household Premises School administration Interest payable Management and Administration			2,406,120 265,201 693,645 374,704 77,175 13,037		2,406,120 265,201 693,645 374,704 77,175 13,037	2,321,036 349,171 636,959 349,617 63,997 10,360
Total			3,829,882		3,829,882	3,731,140
NET INCOME/(EXPENDITURE)			28,217	11,749	39,966	(349)
Transfers between funds		18	11.749	~11.7491
Net movement in fends			39,966		39,966	(349)
RECONCILIATION	OF FUNDS
Total funds brought	forward		2,495,506		2495406	2495 855
TOTAL FUNDS CARRIED FORWARD			2,535472	-	2535,472	2,495595

Sheet August 2020
					2020	2019
		Unrestricted	Restricted		Total funds	Total funds
		fund	funds
	Notes	f.
FIXEDASSETS Tangle assets Investments	11 12	4,923,949 100			4,923,949 100	4,986,580 100
		4,924,049			4,924,049	4,986,680
CURRENT ASSETS Debtors Cash at bank and in hand	13	111,353 310,265			111,353 310,265	99,252 311,620
		421,618			421,618	410,872
CREDITORS Amounts falling due within one year	14	(548,084)			(548084)	(568546)
NET CURRENT ASSETS/(LIABILITIES)		(126,466)			~226.4663	~157.6747
TOTAL ASSETSLESSCURRENT LIABILITIES		4,797,583			4,797,583	4,829,006
CREDITORS Amounts falling due after more than one year	15	(2,262,111)			(2,262,111)	(2,333,500)
NET ASSETS		2,535 472		—	2,535,472	2,495.506
FUNDS Unrestricted funds	18				2835,472	2,495,506
Restricted funds
TOTAL FUNDS					2,535,472	2,495,506

w Statement year ended 31 August 2020
				2020	2019
			Notes	f
Cash flows from operabng activities: Cash generated from operations Interest paid				185,257 ~77.)75)	216,283 ~63.997)
Net cash provided by (used in) operating activities				108,082	152286
Cash flows from investing activities:
Purchase oftangible fixed assets Interest received				(109,994) 557	(3,798,163) 2,288
Loan received					2,200,000
Net cash provided by (used in) investing				(109,437)	(1395,875)
activities
Change in cash and cash eqmvalents reporting period	in the			(1,355)	(1,443,589)
Cash and cash equivalents at the beginning the reporting period		of		311,620	1,755,209
Cash and cash equivalents at the end reporting period	ofthe			310.265	311.620

RECONCILIATION OFNET INCOME/( AC~	EXPENDITURE) TONET CASH F	LOW FROM O	PERATING
		2020	2019
			f.
Net income/(expenditure) for the reporting offlnancial activities)	period (as per the statement	39,966	(349)
Adjustments for: Depreciation charges Loss on disposal offixed assets Interest received		172,625 (557)	75,112 32,840 (2,288)
Interest paid Increase in debtors (Decrease)/increase in creditors		77,175 (12,101) ~91,851)	63,997 (48,240) 95,211
Net cash provided by (used in) operating	activities	185,257	216,283
ANALYSIS OF CHANGES IN NET DEBT At 1.9.19		Cash flow f	At 31.8.20
Net cash Cash at bank and in hand	311,620	(1,355)	310,265
Debt Debts falling due within one year Debts falling due after one year	)2.200.)20)	(71,739) 71,739	(71,739) (2,128,261)
	~2.2$l.000)		(2,200,000)

Depreciation is prov	ided at the follow	ided at the follow	ing annual rates in order to write off
Interest in freehold	buiilding		-2%on cost
Buildings on leasehold		land	—Straight line over 10years
Fixtures and fittings			—20% on cost
Motor vehicles			-25% on cost

DONATIONS AND LEGACIES
	2020	2019
		f.
Donations	16,436	50,537
INVESTMENT INCOME
	2020	2019
	f
Deposit account interest	557	2.288

INCOME FROM CHARITA	BLEAC~S
		2020	2019
	Activity	8
School fees, clubs, trips and recharges Other	Teaching Teaching	3,692,424 160,431	3,657,966 20,000
		3,852.833	3,677.966

	Direct costs	Supportcosts	Totals
		(Seenote 6)
Teaching Household	2,406, 120 265,201		2,406,120 265,201
Premises	693,645		693,645
School administration	373,912	792	374,704
Interest payable Management and Administration	77,175 4,637	8,400	77,175 13,037
	3,820,690	9,392	3.829.882

SUPPORT	COSTS
		Governance
		costsf
School administration Management and Administration		792 8,400
		9,192

Net income/(expenditure) is stated after char~ J(crediting):
	2020	2019
	f	f
Auditors' remuneration Depreciation —owned assets Deficit on disposal offixed asset	8,400 172,625	6,570 75,112 32,840

There were no trustees 31August 2019.	' rem	uneration or othe	r benefits for the ye	ar ended	31 Augus	t 2020 nor for t	e year ended
Trustees' expenses						2020	2019
Trustees'expenses						792	790
STAFF COSTS						2020	2019 f
Wages and salaries						2,635.775	2.523,228
The average monthly	number ofemployees		during the year was	as follows:
						2020	2019
Teaching Staff Premises Administration						61 2 8	63 2 7
						71	72
The number ofemployees		whose employee	benefits (excluding	employer	pension	costs) exceeded 2020	f60,000was: 2019
						2	1
						1
						1	1

		Unrestricted	Restricted	Total funds
		fund	funds
		f
INCOME Donations	AND ENDOWS FROM and legacies		50,537	50,537
Charitable Teaching	activities	3,677,966		3,677,966
Investment	income	2,288		2,288
Ttl		3,680,254	50,537	3,730,791

10.	COMPARATIVES F	OR THE STATEMEN	T OF FIN	ANCIA	LC~	-continued
					Unrestricted	Restricted	Total funds
					fund	funds
	EXPENDITURE ON
	Charitable activities
	Teaching				2,321,036		2,321,036
	Household				349,171		349,171
	Premises				636,959		636,959
	School administration				349,617		349,617
	Interest payable				63,997		63,997
	Management and Administration				10,360		10,360
	Total				3,731,140		3,731,140
	NET INCOME/(EXPEND~)				(50,886)	50,537	(349)
	Transfers between funds				50537	~50.5373
	Net movement in funds				(349)		(349)
	RECONCILIATION	OF FUNDS
	Total funds brought forward				2,495,855		2,495,855
	TOTAL FUNDS CARRIED FORWARD				2,495,506		2,495,506
11.	TANGIBLE FIXEDASSETS
		Interest in
		freehold	Buildings	on	Fixtures and
		building	leasehold	land	fittings	Motor	Totals
						vehicles
	COST
	At 1 September 2019 Additions	405,713	5,382,222 84,127		608,465 25,867	82,728	6,479,128 109,994
	At 31August 2020	405,713	5,466,349		634,332	82728	6589 122
	DEPRECIATION
	At 1 September 2019 Charge for year	120,700 6,600	973,130 124,480		315,990 41,545	82728	1492548 172,625
	At 31August 2020	127,300	1,097,610		357,535	82,728	1,665,173
	NET BOOK VALUE At 31August 2020	278,413	4,368,739		276,797		4,923,949
	At 31August 2019	285.033	4,409,092		292,475		4,986,580

Nature ofbusiness: Holding freehold	property
	9o
Class of share;	holding
Ordinary	100

Ordinary		1	00
				2020 f	2019 f
Aggregate capital and reserves				100	100
The subsidiary company holds the legal title to the Charitable			company's	freehold property, North	Lodge, and is
dormant.
DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR				2020	2019
				f
Expenditure incurred on behalf ofpupils Other debtors and prepayments	and outstanding	fees		57,113 54,240	34,167 65,085
				111,353	99,252
CREDITORSt AMOUNTS FALLING	DUE WITHIN	ONE YEAR
				2020	2019
				f
Bank loans and overdrafts (see note 16) Fees received in advance Social security and other taxes Trade creditors and accruals				71,739 323,036 55,082 ~98 227	394,783 58,934 114,829
				548,084	568,546

5.	CRED1TORSi AMOUNTS FALLING DUE AF	TER MO	RE THAN ONE YEAR
			2020	2019
	Bank loans (see note 16) Fee deposits repayable in the pupils' last year Amounts owed to group undertakings		2,128,261 133,750 100	2,200,000 133,400 100
			2.262,111	2,333.5t31
	The bank loan is secured on property belon~g to	the school.
	The bank loan will be repaid over a number ofyears. f
	Due within one year 71,739
	Due within 2-5 years 286,960
	Due within more than 5 years 1,745,649
16.	LOANS
	An analysis ofthe maturity ofloans is given below:
			2020	2019
	Amounts falling due within one year on demand: Bank loans		71,739
	Amounts falling between one and two years: Bank loans - 1-2 years		95,652
	Amounts falling due between two and five years: Bank loans —2-5 years		286,960	286,960
	Amounts falling due in more than five years:
	Repayable by instalments: Bank loans more 5 yr by instal		1.745.649	1.913.040
17.	LEASING AGREEMENTS
	Minimum lease payments under non-cancellable	operating	leases fall due as follows:
			2020	2019
			f
	Within one year Between one and five years In more than five years		230,000 920,000 4,830,000	230,000 920,000 5,060,000
			5.980,000	6.210.000

MOVEMENT IN FUNDS
			Net movement	Transfers
		At 1.9.19	in funds	between funds	At.31.8.20
			f
Unrestricted funds
General fund		2,495,506	28,217	11,749	2,535,472
Restricted funds
FOSA donations Swop Shop donation			6,000 5.749	(6,000) ~5.749)
			11,749	(11,749)
TOTAL FUNDS		2,495,506	39,966		2,535.472
Net movement in funds, included		in the above are as follows:
			Incoming	Resources	Movement in
			resources f	expended	funds f
Unrestricted funds General fund			3,858,099	(3,829,882)	28,217
Restricted funds FOSA donations Swop Shop donation			6,000 5,749		6,000 5,749
			11,749		11,749
TOTAL FUNDS			3869848	63829882)	39966
Comparatives for movement	in	funds	Net movement	Transfers
		At 1.9.18 f	in funds f	between funds	At 31.8.19 f
Unrestricted Funds General fund		2495 855	(50886) 50,537		2,495,506
Restricted Funds
FOSA donations			50,537	(50,537)
TOTAL FUNDS

Comparative net movement in funds, include	d in the above are as follows:
	Incoming	Resources	Movement tn
	resources f	expended f	funds
Unrestricted funds
General fund	3,680,254	(3,731,140)	(50,886)
Restricted funds FOSA donations	50,537		50,537
TOTAL FUNDS

A current year 12 months and prior	year 12 months combined	position is as follo	ws:	ws:
		Net movement	Transfers
	At 1.9.19	in funds f	between	funds f	At 31.8.20
Unrestricted funds General fund	2,495,855	(22,669)		62,286	2,535,472
Restricted funds FOSA donations Swop Shop donation		56,537 5 749		(56,537) (5,749)
		62,286	~62,2863
TOTAL FUNDS	2.495,855	39.617			2.535,472

A current year 12months and prior year 12 as follows:	months combined net movement in fu	nds, included	n the above are
	Incoming	Resources	Movement in
	resources	expended	funds
Unrestricted funds General fund	7,538,353	(7,561,022)	(22,669)
Restricted funds FOSA donations Swop Shop donation	56,537 5,749		56,537 5,749
	62,286		62,286
TOTALFUNDS	7,600.639	47561.0223	39617