2021-08-31-accounts - Hayfran Trust

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			Page
Company Information
Report ofthe Governors	(Including	Strategic Report)
Report ofthe Independent	Auditors
Statement of Financial Activities
Balance Sheet			10
Cash Flow Statement
Notes tothe Financial Statements

	HAYFRAN TRUST	HAYFRAN TRUST
A COMPANY LIMITED BYGUARANTEE
COMPANY		INFORMATION
for the	year ended 31August		2021
GOVERNORS:		P J Humphries-Cuff			-Chair
		M RJ Piper (resigned			6January 2022)
		C Bromfield
		R W Hook
		8 H Miller
		Mrs I E A Stevens
		J EJ Sidders (resigned 25 March 2022)
		R 5Oliver —Treasurer
HEADTEACHER:		0 Lee
BURSAR:		M RI Piper
REGISTERED OFFICE:		Haybrook House
		Marlborough	Road
		Pewsay
		SN9 5NT
REGISTERED NUMBER:		2164880(England		and Wales)
REGISTERED CHARITY
NUMBER:		298522
AUDITORS.'		Fawcetts LLP
		Chartered Accountants
		and Statutory	Auditors
		Wlndover House
		St Ann Street
		Salisbury
		SP12DR
SOLICITORS:		Thrings
		6 Drakes Meadow
		Penny Lane
		Swindon
		SN3 3LL
BANKERS:		HSBC Bank pic
		8 London Street
		Basingstoke
		RG217NU

					2021		2020
			Unrestricted	fund	Restricted
			School	Other	fund	Total	Total
		Notes	E	6	E	6	E
INCOME AND ENDOWMENTS	FROM;
Income from:
Charitable activities
Fees receivable		2	2,424,080			2,424,080	2,319,285
Otherlncome		3	56,343			56,343	192,315
Donations and legacies			5,689		1,259	6,948	58,800
Trading activities				5,243		5,243	12,418
Total income			2,486,112	5,243	1,259	2,492,614	~2,582 818
EXPENDITURE
Expenditure on:
Chadtable activities
School operating costs			2,231,272		3,445	2,234,717	2,564,383
Trading expenses				7,030		7,030	12,996
Total expenditure		5	2,231,272	7,030	3,445	2,241,747	2,577,379
NET (EXPENDITURE)/INCOME			254,840	(1,787)	(2,186)	250,867	5,439
Fund balances at 1September	2020		1,568,323	87,089	110,957	1,766,369	1,760,930
TOTAL FUNDS CARRIED FORWARD
AT31AUGUST 2021			1,823,163	85,302	108,771	2,017,236	1,766,369

					BALANCE SHEET 31August 2021
					2021			2020
				Notes
FIXEDASSETS:
Tangible assets						1,861,254		1,970,090
CURRENTASSETS:
Stocks					19,897		33,070
Debtors					36,495		48,484
Cash at bank and	in hand				1,001,156		657,587
					1,057,548		739,141
CREDITORS:	Amounts		faglng
due within one year					549,986		544,228
NET CURRENT ASSETS:						507,562		194,913
TOTAL ASSETS LESSCURRENT
LIABILITIES:						2,368,816		2,165,003
CREDITORS: Amounts		falling
due after more than one			year		10	(351,580)		(398,634)
						2,017,236		1,766,369
FUNDS:
Unrestricted funds						1,908,465		1,655,412
Restricted fund					16	108,771		110,957
					17	2,017,236		1,766,369
These accounts	were	approved		and authorised	for issue by the Governors	on .e.......s............kI ~5.05.ei as		and were signed on
their behalf by:

			CASH FLOW STATEMENT
		forthe Year Ended 31August		2021
				2021	2020
			Notes	f	E
Net cash provided by
operating activities				423,289	289,484
Cash flows from investing	activities:
Purchase oftangible assets				(36,505)	(20,567)
Net cash (used in) investing	activities			(36,505)	(20,567)
Cash flows from Rnancing	activities:
Loan repayments				(43,215)	(40,683)
New loan in year					50,000
Net cash (used in)/provided	by financing activities			(43,215)	9,317
Change In cash and cash equivalents		in the year		343,569	278,234
Cash and cash equivalents	at 1September 2020			657,587	379,353
Cash and cash equivalents	at 31August 2021		2	1,001,156	657,587

					2021f	2020 E
	Net incoming/(outgoing)		resources		250,867	5,439
	Depreciation charges				145,341	155,272
	Loss on disposal of	assets				397
	Decrease In stock				13,173	3,028
	Decrease in debtors				11,989	26,806
	Increase in creditors				1,919	98,542
	Net cash provided	by operating		activities	423,289	289,484
2.	ANALYSIS OF CASH	AND	CASH	EQUIVALENTS
					2021	2020
					E	6
	Cash at bank and in hand				1,001,156	657,587
					1,001,156	657,587

Tangible	fixed assets	continued
Freehold	property	-2%on cost
Property	improvements	-at varying rates between	2.5and 14.33SSon cost
Plant and equipment		-at varying rates between	10%and 33.33%on cost
Motor vehicles		-25%on cost
Nursery	unit	-at varying rates between	4%and 33.33%on cost

FEES
			2021	2020
			6	6
Fees	receivable consist of:
Gross	fees		2,713,662	2,710,515
Less:	Total bursaries,	grants and allowances	(289,582)	(391,230)
			2,424,080	2,319,265

SUNDRY AN	D OTHER INCOME
		2021f	2020 6
Sundry Income		53,238	28,877
Coronavirus	Job Retention Scheme	3,105	163,438
		56,343	192,315
STAFF COSTS
		2021	2020
		E	6
Wages and	salaries	1,416,765	1,643,399
Social security costs		110,271	131,212
Other pension costs		181,997	218,794
		1,709,033	1,993,405

The average monthly	on a full time equivalent	basis, was as
follows:
	2021	2020
Teaching	37	44
Non teaching	17	17
	54	61

				2021	2020
				No.	No
The number ofemployees	whose emoluments	exceeded 660,000was:
680,001 - 690,000
The number ofhigher paid	staff to whom retirement		benefits were accruing
was as follows:				2021	2020
				No.	No.
Defined benefit schemes

	ANALYSIS OF	TO	TAL	RESOURCES	EXPENDED
						Support			2021	2020
					Staff costs	costs	Depreciation		Total	Total
					f	f		f	6	E
	Charitable activities:
	School operating		costs:
	Teaching costs				1,362,720	42,091		17,986	1,422,797	1,736,280
	Welfare				72,440	73,838			146,278	149,639
	Premises				85,291	148,641		118,362	352,294	349,796
	Management	and administration			188,582	98,937		8,993	296,512	308,781
					1,709,033	363,507		145,341	2,217,881	2,544,496
	Governance	costs				9,200			9,200	10,080
	Costs ofgenerating			funds:
	Finance and other costs					7,636			7,636	9,807
					1,709,033	380,343		145,341	2,234,717	2,564,383
	Trading costs					7,030			7,030	12,996
	Totalresources		expended		1,709,033	387,373		145,341	2,241,747	2,577,379
6.	TANGIBLE FIXEDASSETS
							Plant
				Freehold	Property		and	Nursery	Motor
				property	improvements	equipment		unit	vehicles	Totals
									E	E
COST:
At 1September 2020				489,602	2,110,895		460,171	598,324	15,158	3,674,150
Additions					7,517		18,251	10,737		36,505
Disposals							(3,971)			(3,971)
At 31August 2021				489,602	2,118,412		474,451	609,061	15,158	3,706,684
DEPRECIATION:
At 1September 2020				275,675	934,188		394,906	84,133	15,158	1,704,060
Charge	for year			9,792	79,313		26,979	29,257		145,341
Eliminated on disposals							(3,971)			(3,971)
At 31August 2021				285,467	1,013,501		417,914	113,390	15,158	1,845,430
NET BOOKVALUE:
At 31August 2021				204,135	1,104.911		56,537	495,671		1,861,254
At 31August 2020				213,927	1,176,707		65,265	514,191		1,970,090

					NOTES TOTHE FINANCIAL STATEMENTS	NOTES TOTHE FINANCIAL STATEMENTS	NOTES TOTHE FINANCIAL STATEMENTS
						forthe year ended 31August 2021
7.	STOCKS
								2021	2020
								6
	School uniform							19,897	33,070
8.	DEBTORS:AMOUNTS			FALLING
	DUE WITHIN ONE YEAR
								2021	2020
								E	E
	Trade debtors							8,824	7,206
	Other debtors								20,022
	Prepayments and accrued income							27,671	21,256
								36,495	48,484
9.	CREDITORS: AMOUNTS				FALLING
	DUE WITHIN ONE YEAR
								2021	2020
								6	6
	Bank loans and	overdrafts (see note					14)	51,372	40,683
	Trade creditors							39,518	31,136
	Social security	and other			taxes			27,145	48,455
	Other creditors							23,745	34,163
	Deferred Income							374,442	327,505
	Accrued expenses							33,764	62,286
								549,986	544,228
10.	CREDITORS: AMOUNTS				FALLING
	DUE AFTER MORE THAN				ONE YEAR
								2021	2020
								6	f
	Bank loans	(see note			14)			263,030	316,934
	Fee deposits							88,550	81,700
								351,580	398,634
11.	NET OUTGOING		RESOURCES
	Net outgoing resources are stated					after charging.
								2021	2020
								6	f
	Depreciation -	owned		assets				145,341	155,272
	Operating lease		rentals					20,135	15,300
	Auditors' remuneration				-audit			8,250	8,250
				—previous		year audit under provided fee			880
					-other services			750	750
12.	OPERATING LEASE COMMITMENT
	The total future		minimum		payments		due on leases expiring:	2021 f	2020 6
	Equipment and		motor vehicles
	Expiring:
	Between one	and five years						86,701	15,434

An analysi	s ofthe maturity ofloans is given below:
		2021f	2020 E
Amounts	falling due within one year:
Bankloan		51,372	40,683
Amounts	falling due between one and two years:
Bank loan	-1-2 years	51,372	51,327
Amounts	falling due between two and five years:
Bank loan	—2-5years	154,116	153,981
Amounts	falling due over five years:
Bank loan	—over 5years	57,542	111,626

			Balance at			Balance at
			1September	Incoming	Resources	31August
			2020 6	resources E	expended f	2021 E
Fixed	asset fund		78,527	1,259	(3,305)	76,481
Pdism	Foundation	grant	32,430		(140)	32,290
			110,957	1,259	(3,445)	108,771

The net assets are held forthe various funds as follows:	The net assets are held forthe various funds as follows:
			Net	Creditors
		Fixed	current	due after more
		assets	assets	than one year	Total
		6	6	E	6
Unrestricted	funds	1,784,773	475,272	(351,580)	1,908,465
Restricted fund		76,481	32,290		108,771
		1,861,254	507,562	(351,580)	2,017,236

			Unrestricted	fund	Restricted
			School	Other	fund	Total
		Notes	E	E	6	E
INCOME AND ENDOWMENTS	FROM:
Charitable activities
Fees receivable			2,319,285			2,319,285
Other Income			192,315			192,315
Donations and legacies			26,370		32,430	58,800
Trading activities				12,418		12,418
Total Income			2,537,970	12,418	32,430	2,582,818
EXPENDITURE ON
Charitable activities
School operating costs			2,561,078		3,305	2,564,383
Trading expenses				12,996		12,996
Total expenditure			2,561,078	12,996	3,305	2,577,379
NET (EXPENDITURE)/INCOME			(23,108)	(578)	29,125	5,439
Fund balances at 1September	2019		1,591,431	87,667	81,832	1,760,930
TOTAL FUNDS CARRIED FORWARD
AT31AUGUST 2020			1,568,323	87,089	110,957	1,766,369