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2022-08-31-accounts
|
Page |
|
| Members of the Council, Officers and Advisors |
|
1 |
| Report of the Council |
**2 to ** |
10 |
| Report of the Independent Auditors |
**11 to ** |
13 |
| Consolidated Statement of Financial Activities |
|
14 |
| Consolidated Balance Sheet |
|
15 |
| Statement of Cash Flow |
|
16 |
| Notes to the Financial Statements |
**17 to ** |
29 |
|
|
|
|
2022 |
2021 |
| INCOME AND EXPENDITURE |
|
Unrestricted |
Restricted |
Total |
Total |
|
Note |
f |
f |
f |
£ |
| INCOME AND ENDOWMENTS FROM: |
|
|
|
|
|
| Charitable activities: |
|
|
|
|
|
| School fees receivable |
3 |
5,739,477 |
|
5,739,477 |
5,356,943 |
| Other income |
4 |
438,743 |
|
438,743 |
739,330 |
| Donations and legacies |
5 |
61,121 |
|
61,121 |
79,093 |
| Other trading activities |
6 |
330,387 |
|
330,387 |
46,418 |
| Investment income |
7 |
1,345 |
|
1,345 |
532 |
| Total income |
|
6,571,073 |
|
6,571,073 |
6,222,316 |
| EXPENDITURE ON: |
|
|
|
|
|
| Raising funds |
8 |
87,559 |
|
87,559 |
53,018 |
| Charitable activities |
8 |
6,643,359 |
31,069 |
6,674,428 |
6,102,036 |
| Total expenditure |
|
6,730,918 |
31,069 |
6,761,987 |
6,155,054 |
|
|
(159,845) |
(31,069) |
(190,914) |
67,262 |
| Net gains/(losses) on investments |
14 |
|
|
|
|
| NET INCOME/(EXPENDITURE) |
|
(159,845) |
(31,069) |
(190,914) |
67,262 |
| RECONCILIATION OF FUNDS: |
|
|
|
|
|
| Total funds brought forward |
|
7,563,048 |
31,069 |
7,594,117 |
7,526,855 |
| TOTAL FUNDS CARRIED FORWARD |
|
7,403,203 |
|
7,403,203 |
7,594,117 |
|
|
Group |
|
School |
School |
|
|
2022 |
2021 |
2022 |
2021 |
|
Note |
|
|
|
E |
| Fixed assets |
|
|
|
|
|
| Tangible fixed assets |
13 |
8,214,930 |
8,186,121 |
8,214,930 |
8,182,592 |
| Investment |
14 |
5,749 |
5,749 |
5,749 |
6,249 |
|
|
8,220,679 |
8,191,870 |
8,220,679 |
8,188,841 |
| Current assets |
|
|
|
|
|
| Debtors |
15 |
309,072 |
242,768 |
309,072 |
253,065 |
| Cash at bank and in hand |
|
1,922,675 |
2,684,327 |
1,922,675 |
2,682,024 |
| Total current assets |
|
2,231,747 |
2,927,095 |
2,231,747 |
2,935,089 |
| Liabilities |
|
|
|
|
|
| Creditors: Amounts due within one year |
16 |
(1,927,361) |
(1,879,036) |
(1,927,361) |
(1.42.6;420) |
| Net current assets |
|
304,386 |
1,048,059 |
304,386 |
1,058,669_ |
| Total assets less current liabilities |
|
8,525,065 |
9,239,929 |
8,525,065 |
9,247,510 |
| Creditors: Amounts due after more than one year |
17 |
(1,121,862) |
(1,645,812) |
(1,121,862) |
(1,645,812) |
| NET ASSETS |
|
7,403,203 |
7,594,117 |
7,403,203 |
7,601,698 |
| Funds |
|
|
|
|
|
| Unrestricted funds: |
|
|
|
|
|
| Undesignated |
21 |
7,403,203 |
7,570,629 |
7,403,203 |
7,570,629 |
| Trading company |
21 |
|
(7,581) |
|
|
| Total unrestricted general funds |
|
7,403,203 |
7,563,048 |
7,403,203 |
7,570,629 |
| Restricted funds |
21 |
|
31,069 |
|
31,069 |
| TOTAL FUNDS |
|
7,403,203 |
7,594,117 |
7,403,203 |
7,601,698 |
|
|
|
2022 |
2021 |
|
|
Notes |
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
|
| Net cash provided by/(used in) operating activities |
|
a |
(205,713) |
1,760,527 |
| Cash flows from investing activities: |
|
|
|
|
|
Purchase of tangible fixed assets |
|
(451,155) |
(307,125) |
|
Proceeds on sale of tangible fixed assets |
|
45,216 |
|
| Net cash provided by/(used in) investing activities |
|
|
(405,939) |
(307,125) |
| Cash flows from financing activities: |
|
|
|
|
|
Repayments of borrowing |
|
(150,000) |
(1,287,500) |
|
Cash inflows from new borrowing |
|
|
7 |
| Net cash provided by/(used in) financing activities |
|
|
(150,000) |
(1,287,500) |
| CHANGE IN CASH AND CASH EQUIVALENTS FOR THE YEAR |
|
|
(761,652) |
165,902 |
| Cash and cash equivalents brought forward |
|
b |
2,684,327 |
2,518,425 |
| CASH AND CASH EQUIVALENTS CARRIED FORWARD |
|
|
|
|
| AT 31 AUGUST |
|
b |
1,922,675 |
2,684,327 |
| a) |
**Reconciliation of net income/(expenditure) to net cash ** |
**flow from ** |
operating activities |
|
|
|
|
2022 |
2021 |
|
Net income/(expenditure) for the year as per the |
|
|
|
|
Statement of Financial Activities |
|
(190,914) |
67,262 |
|
Adjusted for: |
|
|
|
|
Depreciation |
|
413,775 |
396,232 |
|
(Profit)/loss on disposal of tangible fixed assets |
|
(33,897) |
3,493 |
|
Net gains/(losses) on investments |
|
|
|
|
Disposal of subsidiary |
|
(2,748) |
|
|
(Increase)/decrease in debtors |
|
(66,304) |
(15,760) |
|
Increase/(decrease) in creditors |
|
(325,625) |
1,309,300 |
|
Net cash (used in)/ provided by operating activities |
|
(205,713) |
1,760,527 |
| b) |
Analysis of cash and cash equivalents |
|
|
|
|
|
|
2022 |
2021 |
|
Cash at bank and in hand |
|
1,922,675 |
2,684,327 |
| Freehold property |
2% straight line (on cost above £100,000 estimated to be the original cost of |
| Building improvements |
20% reducing balance / 10% straight line |
| Furniture, fittings & equipment |
20% reducing balance |
| Computer equipment |
33% straight line |
| Motor vehicles |
25% straight line |
|
|
|
2021 |
|
Unrestricted |
Restricted |
Total |
|
E |
|
|
| INCOME AND ENDOWMENTS FROM: |
|
|
|
| Charitable activities: |
|
|
|
| School fees receivable |
5,356,943 |
− |
5,356,943 |
| Other income |
739,330 |
− |
739,330 |
| Donations and legacies |
39,100 |
39,993 |
79,093 |
| Other trading activities |
46,418 |
|
46,418 |
| Investment income |
532 |
|
532 |
| Total income |
6,182,323 |
39,993 |
6,222,316 |
|
_ |
|
|
| EXPENDITURE ON: |
|
|
|
| Raising funds |
53,018 |
|
53,018 |
| Charitable activities |
6,093,112 |
8,924 |
6,102,036 |
| Total expenditure |
6,146,130 |
8,924 |
6,155,054 |
|
36,193 |
31,069 |
67,262 |
| Net gains/(losses) on investments |
|
|
|
| NET INCOME/(EXPENDITURE) |
36,193 |
31,069 |
67,262 |
| RECONCILIATION OF FUNDS: |
|
|
|
| Total funds brought |
7,526,855 |
|
7,526,855 |
| TOTAL FUNDS CARRIED FORWARD |
7,563,048 |
31,069 |
7,594,117 |
| 3. |
Charitable activities: School fees receivable |
2022 |
2021 |
|
Gross fees excluding registrations |
6,684,768 |
6,642,356 |
|
Less: Bursaries, scholarships and allowances |
(945,291) |
(1,285,413). |
|
|
5,739,477 |
5,356,943 |
|
Restricted fund bursaries |
|
|
|
|
5,739,477 |
5,356,943 |
| 4. |
Charitable activities: Other income |
2022 |
2021 |
|
Extras, special tuition and outlays recoverable |
427,379 |
375,966 |
|
Registration fees |
10,340 |
10,295 |
|
Government grants |
1,024 |
353,069 |
|
|
438,743 |
739,330 |
| S. |
Donations and legacies |
2022 |
2021 |
|
|
£ |
£ |
|
Donations |
61,121 |
79,093 |
| 6. |
Other trading activities |
2022 |
2021 |
|
Subsidiary trading income |
2,180 |
(1,970) |
|
Sports centre income |
135,402 |
36,953 |
|
Lettings and rents |
1,364 |
8,395 |
|
Other income |
3,776 |
3,040 |
|
Insurance proceeds |
29,396 |
|
|
Profit on disposal of assets |
33,897 |
|
|
Course income |
124,372 |
|
|
|
330,387 |
46,418 |
| 7. |
Investment income |
2022 |
2021 |
|
Bank and other interest |
1198 |
310 |
|
Investment income |
147 |
222 |
|
|
1,345 |
532 |
| 8. |
Expenditure |
Staff |
|
Other |
|
Total |
Total |
|
|
costs |
|
costs |
Depreciation |
2022 |
2021 |
|
|
f |
|
E |
E |
E |
E |
|
Raising funds |
|
|
|
|
|
|
|
Trading costs |
|
|
6,572 |
|
6,572 |
5,280 |
|
Commissions and other costs |
|
|
57,473 |
|
57,473 |
35,427 |
|
Bank loan interest and charges |
|
|
23,514 |
|
23,514 |
12,311 |
|
|
|
|
87,559 |
|
87,559 |
53,018 |
|
Charitable activities |
|
|
|
|
|
|
|
Education: |
|
|
|
|
|
|
|
Teaching |
2,846,931 |
|
173,683 |
3,268 |
3,023,882 |
2,785,093 |
|
Welfare |
551,372 |
|
312,772 |
− |
864,144 |
670,328 |
|
Premises |
572,697 |
|
829,527 |
410,507 |
1,812,731 |
1,762,483 |
|
ICT & AV development |
_ |
|
232,649 |
−− |
232,649 |
163,512 |
|
Support costs of schooling |
479,551 |
|
185,661 |
|
665,212 |
667,250 |
|
Bad debts |
|
|
333 |
|
333 |
21,834 |
|
Lettings, courses and other activities |
41,897 |
|
36,328 |
|
78,225 |
31,536 |
|
Loss on disposal of subsidiary |
− |
|
(2,748) |
|
(2,748) |
|
|
|
4,492,448 |
|
1,768,205 |
413,775 |
6,674,428 |
6,102,036 |
|
|
|
, |
|
|
|
|
|
|
4,492,448 |
|
1,855,764 |
413,775 |
6,761,987 |
6,155,054 |
|
|
(note 11) |
|
|
|
|
|
|
TOTAL 2021 |
4,225,797 |
|
1,533,026 |
396,231 |
6,155,054 |
|
| 9. |
Net income/(expenditure) |
|
|
|
|
2022 |
2021 |
|
|
|
|
|
|
E |
E |
|
This is stated after charging: |
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
413,775 |
396,231 |
|
(Loss)/Profit on disposal of fixed assets |
|
|
|
|
33,897 |
(3,493) |
|
Auditors' remuneration: |
|
|
|
|
|
|
|
−audit |
|
|
|
|
16,370 |
15,000 |
|
Operating lease rentals: |
|
|
|
|
|
|
|
−equipment rental |
|
|
|
|
30,770_ |
29,376 |
| Staff costs and number |
s |
s |
|
|
|
|
|
|
Teaching |
|
Non−teaching |
|
|
Total |
|
|
2022 |
2021 |
2022 |
2021 |
|
2022 |
2021 |
| Wages and salaries |
2,165,509 |
2,042,085 |
1,656,954 |
1,572,733 |
|
3,822,463 |
3,614,818 |
| Social security |
217,191 |
195,012 |
126,975 |
115,677 |
|
344,166 |
310,689 |
| Pension costs |
276,742 |
252,218 |
49,077 |
48,072 |
|
325,819 |
300,290 |
|
2,659,442 |
2,489,315 |
1,833,006 |
1,736,482 |
|
4,492,448 |
4,225,797 |
|
|
|
|
|
_ |
|
|
| The average number of |
employees during the year were as follows: |
|
|
|
|
2022 |
2021 |
|
|
|
|
|
|
No. |
No. |
| Teaching staff |
|
|
|
|
|
52 |
53 |
| Other employees |
|
|
|
|
|
92 |
94 |
|
|
|
|
|
|
144 |
147 |
| The number of employees whose emoluments for the year fell |
|
|
|
|
|
2022 |
2021 |
| within the following bands were: |
|
|
|
|
|
No. |
No. |
| £50,001 to £60,000 |
|
|
|
|
|
1 |
1 |
| £60,001 to £70,000 |
|
|
|
|
|
1 |
1 |
| £70,001 to £80,000 |
|
|
|
|
|
1 |
1 |
| £80,001 to £90,000 |
|
|
|
|
|
|
|
| £90,001 to £100,000 |
|
|
|
|
|
|
|
| £100,001 to £150,000 |
|
|
|
|
|
1 |
1 |
|
|
|
|
Furniture, |
|
|
|
|
|
|
|
|
|
|
Freehold |
Building |
fittings & |
Motor |
|
|
School |
|
|
|
Group |
|
|
property |
**improvements ** |
equipment |
vehicles |
|
|
Total |
|
Subsidiary |
|
Total |
|
|
f |
f |
f |
|
f |
|
f |
|
f |
|
f |
| Cost |
|
|
|
|
|
|
|
|
|
|
|
|
| At 1 September |
|
11,684,892 |
2,987,170 |
3,046,373 |
|
49,560 |
|
17,767,995 |
|
143,370 |
|
17,911,365 |
| Additions |
|
= |
11,520 |
439,635 |
|
− |
|
451,155 |
|
− |
|
451,155 |
| Disposals |
|
− |
|
(18,750) |
|
|
|
(18,750) |
|
(143,370) |
|
(162,120) |
| At 31 August |
|
11,684,892 |
2,998,690 |
3,467,258 |
|
49,560 |
|
18,200,400 |
|
|
|
18,200,400 |
| Depreciation |
|
|
|
|
|
|
|
|
|
|
|
|
| At 1 September |
|
4,680,499 |
2,502,105 |
2,366,309 |
|
36,490 |
|
9,585,403 |
|
139,841 |
|
9,725,244 |
| Charge for the year |
|
231,698 |
47,330 |
131,479 |
|
3,268 |
|
413,775 |
|
|
|
413,775 |
| Disposals |
|
= |
= |
.
(13,708) |
|
|
|
(13,708) |
|
(139,841) |
|
−153,549.00 |
| At 31 August |
|
4,912,197 |
2,549,435 |
2,484,080 |
_ |
39,758 |
. |
9,985,470 |
, |
− |
. |
9,985,470 |
| Net book value |
|
|
|
|
|
|
|
|
|
|
|
|
| At 31 August 2022 |
|
6,772,695 |
449,255 |
983,178 |
|
9,802 |
|
8,214,930 |
|
|
|
8,214,930 |
| At 31 August 2021 |
|
7,004,393 |
485,065 |
680,064 |
|
13,070 |
|
8,182,592 |
|
3,529 |
|
8,186,121 |
|
_ |
|
|
|
|
|
|
|
|
_ |
|
|
| Fixed Asset Investments |
Investment |
|
Unquoted |
Group |
Motcombe |
School |
|
Trusts |
|
UK equities |
Total |
Park Ltd |
Total |
|
f |
|
f |
f |
f |
f |
| Market value at 1 September |
4,429 |
|
1,320 |
5,749 |
500 |
6,249 |
| Unrealised gains/(losses) |
−,. |
|
|
− |
|
,− |
| Disposals |
|
|
|
|
(500) |
(SOO) |
| Market value at 31 August |
4,429 |
|
1,320 |
5,749 |
|
5,749_ |
| Historical cost |
1,600 |
|
90 |
1,690 |
500 |
2,190 |
|
|
t, |
|
|
|
|
| Debtors |
|
|
Group |
|
School |
|
|
|
|
2022 |
2021 |
2022 |
2021 |
| Fees and extras |
|
|
170,419 |
145,114 |
170,419 |
145,114 |
| Stocks, prepayments and accrued income |
|
|
138,653 |
97,654 |
138,653 |
96,788 |
| Amount owed by subsidiary |
|
|
− |
|
− |
11,163 |
|
|
|
309,072 |
242,768 |
309,072 |
253,065 |
| 16. |
Creditors: amounts due within one year |
Group |
|
School |
|
|
|
2022 |
2021 |
2022 |
2021 |
|
Cash received in advance for next term's fees |
759,941 |
707,757 |
759,941 |
707,757 |
|
Advance fees scheme (note 18) |
323,720 |
331,434 |
323,720 |
331,434 |
|
Deposits |
358,506 |
344,747 |
358,506 |
344,747 |
|
Trade creditors |
93,416 |
97,245 |
93,416 |
97,245 |
|
Bank loans (note 17) |
150,000 |
150,000 |
150,000 |
150,000 |
|
Hire purchase agreements |
|
4,343 |
|
|
|
Other taxation and social security |
84,608 |
74,774 |
84,608 |
74,774 |
|
Other creditors |
35,840 |
32,666 |
35,840 |
32,666 |
|
Accruals and deferred income |
121,330 |
136,070 |
121,330 |
133,454 |
|
|
1,927,361 |
1,879,036 |
1,927,361 |
1,876,420 |
| 17. |
Creditors: amounts due after more than one year |
|
|
2022 |
2021 |
|
Advance fee scheme (note 18) |
|
|
709,362 |
1,083,312 |
|
Bank loans |
|
|
412,500 |
712,500 |
|
|
|
|
1,121,862 |
1,795,812 |
|
Hire purchase agreements repayable by instalments: |
|
|
2022 |
2021 |
|
Less than 1 year |
|
|
|
4,343 |
|
Between 2 and 5 years |
|
|
|
|
|
|
|
|
|
4,343 |
|
Bank loans repayable by instalments: |
|
|
2022 |
2021 |
|
Less than 1 year |
|
|
150,000 |
150,000 |
|
Between 2 and 5 years |
|
|
412,500 |
562,500 |
|
In 5 years or more |
|
|
|
− |
|
|
|
|
562,500 |
712,500 |
|
2022 |
2021 |
| Less than 1 year |
323,720 |
331,434 |
| Between 2 and 7 years |
709,362 |
1,083,312 |
|
1,033,082 |
1,414,746 |
| Summary of movements in liability: |
2022 |
2021 |
| Balance at 1 September |
1,414,746 |
209,848 |
| Additional amounts received |
_ |
1,356,410 |
| Allocation to fees |
(381,664) |
(151,512) |
| Balance at 31 August |
1,033,082 |
1,414,746 |
As at 31 August the School had total future minimum
equipment as follows: |
lease payments under non−cancellable opera |
ting leases for |
|
2022 |
2021 |
| Less than 1 year |
18,498 |
27,506 |
| Between 2 and 5 years |
11,142 |
18,013 |
| Over 5 years |
−, |
− |
|
29,640 |
45,519 |
| Analysis of net assets between funds |
|
|
|
|
|
Fixed assets |
|
|
|
|
|
Net current |
Creditors > 1 |
|
|
investments |
liabilities |
year |
Total |
| Unrestricted funds: |
|
|
|
|
| General undesignated funds |
8,220,679 |
304,386 |
(1,121,862) |
7,403,203 |
| Trading subsidiary |
|
|
|
|
| Restricted funds |
|
|
|
|
| Net assets at the end of the year |
8,220,679 |
304,386 |
(1,121,862) |
7,403,203 |
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
Net current |
**Creditors ** |
> 1 |
|
|
|
|
Investments |
liabilities |
year |
|
Total |
|
Unrestricted funds: |
|
|
|
|
|
|
|
General undesignated funds |
|
8,157,272 |
1,059,169 |
(1,645,812) |
|
7,570,629 |
|
Trading subsidiary |
|
3,529 |
(11,110) |
|
− |
(7,581) |
|
Restricted funds |
|
31,069 |
|
|
|
31,069 |
|
Net assets at the end of the year |
|
8,191,870 |
1,048,059 |
(1,645,812) |
|
7,594,117 |
| 21. |
Statement of funds |
|
|
|
|
|
|
|
|
Balance at |
Incoming |
Outgoing |
Gains/losses |
|
Balance at |
|
|
1.09.21 |
resources |
resources |
& transfers |
|
31.08.22 |
|
|
f |
f |
f |
f |
|
f |
|
Unrestricted funds: |
|
|
|
|
|
|
|
General undesignated funds |
7,570,629 |
6,568,893 |
(6,724,346) |
(11,973) |
|
7,403,203 |
|
Trading subsidiary |
(7,581) |
2,180 |
(6,572) |
11,973 |
|
|
|
|
7,563,048 |
6,571,073 |
(6,730,918) |
|
|
7,403,203 |
|
Restricted funds |
31,069 |
|
(31,069) |
|
|
|
|
|
7,594,117 |
6,571,073 |
(6,761,987) |
|
|
7,403,203 |
|
Comparative statement of funds for the year ended 31 August 2021: |
|
|
|
|
|
|
|
|
Balance at |
Incoming |
Outgoing |
Gains/losses |
|
Balance at |
|
|
1.09.20 |
resources |
resources |
& transfers |
|
31.08.21 |
|
|
E |
£ |
f |
f |
|
f |
|
Unrestricted funds: |
|
|
|
|
|
|
|
General undesignated funds |
7,527,186 |
6,184,293 |
(6,140,850) |
|
|
7,570,629 |
|
Trading subsidiary |
(331) |
(1,970) |
(5,280) |
|
|
(7,581) |
|
|
7,526,855 . |
6,182,323 |
(6,146,130) |
|
|
7,563,048 |
|
Restricted funds |
|
39,993 |
(8,924) |
|
|
31,069 |
|
|
7,526,855 |
6,222,316 |
(6,155,054) |
|
|
7,594,117 |
| Profit and loss accounts |
2022 |
2021 |
| Turnover |
2,180 |
(1,970) |
| Operating costs |
(6,572) |
|
|
_ |
|
| Operating profit |
(4,392) |
(7,250) |
| Interest receivable |
|
|
|
(4,392) |
(7,250) |
| Gift aid donation to Port Regis School |
|
|
|
(4,392) |
(7,250) |
| Balance sheet |
2022 |
2021 |
| Fixed assets |
|
3,529 |
| Current assets |
|
3,170 |
| Current liabilities |
|
(13,780) |
|
|
(7,081) |
| Called up share capital |
|
500 |
| Retained earnings |
|
(7,581) |
|
|
(7,081) |