2022-08-31-accounts - Truro High School For Girls

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

	`Page`
`Referenceandadministrativedetails`
`AnnualReportoftheTrustees`
`Statementoftrustees’responsibilities`	`17`
`Auditor’sreport`	`18`
`Financialstatements:`
`GroupStatementoffinancialactivities`	`22`
`Groupand CharityBalancesheet`	`23`
`GroupStatementofCashFlow`	`24`
`Notestothefinancialstatements`	`25`

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TRURO HIGH SCHOOL FOR GIRLS

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Charities Act 2011, the parent charity's governing document and tax legislation. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing the financial statements including the Report of the Trustees', remaining alert to new or unusual transactions which may not be in accordance with the governing documents, inspecting correspondence local tax authorities and evaluating advice received from internal[/] external advisors.

The most significant laws and regulations that have an indirect impact on the financial statements are The Education (Independent School Standards) Regulations 2014, Keeping Children Safe in Education under section 175 of the Education Act 2002, and the UK General Data Protection Regulation (UK GDPR). We performed audit procedures to inquire of management and those charged with governance whether the charitable company is in compliance with these law and regulations and inspected correspondence with regulatory authorities.

The group audit engagement team identified the risk of management override of controls and income recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates and substantive tests of detail over donation and grant income.

A further description of our responsibilities for the audit of the financial statements is provided on the Financial Reporting Council's website at http:[//] www.frc.org.uk[/] auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity's trustees as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Nicholas Sladden (Senior Statutory Auditor) For and on behalf of RSM UK AUDIT LLP, Statutory Auditor Chartered Accountants 25 Farringdon Street London EC4A 4AB

Date: 18/01/23

			`Unrestricted`		`Restricted`		`Endowment`		`Total`	`Total`
			`funds`		`funds`		`funds`		`2022`	`2021`
	`Notes`		`£`		`£`		`£`		`£`	`£`
`INCOMEANDENDOWMENTSFROM:`
`Donationsandlegacies`	`3`		`712`		`18,546`		`=`		`19,258`	`60,793`
`Charitableactivities:`
`Schoolfees`	`4`		`5,583,677`		`-`		`-`		`5,583,677`	`4,688,213`
`Other educationalincome`	`5`		`240,400`		`-`		`-`		`240,400`	`277,180`
`Othertradingactivities`	`6`		`123,177`		`-`		`-`		`123,177`	`65,614`
`Investments`	`8`		`2`		`-`		`-`		`2`	`-`
`TOTAL`			`5,947,968`		`18,546`		`A`		`5,966,514`	`5,091,800`
`EXPENDITUREON:`
`Raisingfunds`	`9`	`-`	`42,690`		`-`		`-`	`-`	`42,690`	`41,105`
`Charitableactivities`	`10`	`*`	`5,079,807`		`-`	`-`	`33,396`	`-`	`5,113,203`	`4,498,802`
`TOTAL`		`-`	`5,122,497`		`S`	`=`	`33,396`	`s`	`5,155,893`	`4,539,907`
`NETINCOME`			`825,471`		`18,546`	`2`	`33,396`		`810,621`	`551,893`
`Transferbetweenfunds`	`20`	`-`	`1819`	`-`	`2,581`		`4,400`		`-`	`-`
`NETMOVEMENT` `INFUNDS`			`823,652`		`15,965`	`.`	`28,996`		`810,621`	`551,893`
`RECONCILIATIONOFFUNDS:`
`Totalfundsbroughtforward`			`1,453,649`		`16,293`		`2,004,724`		`3,474,666`	`2,922,773`
`TOTALFUNDSCARRIEDFORWARD`			`2,277,301`		`32,258`		`1,975,728`		`4,285,287`	`3,474,666`

			`Group`	`Group`	`Charity`	`Charity`
			`2022`	`2021`	`2022`	`2021`
		`Notes`	`£`	`£`	`£`	`£`
`FIXEDASSETS:`
`Tangibleassets`		`14`	`5,193,164`	`5,121,500`	`5,193,164`	`5,121,500`
`Investments`		`15`	`-`	`:`	`1`	`1.`
			`5,193,164`	`5,121,500`	`5,193,165`	`5,121,501`
`CURRENTASSETS:`
`Debtors:Duewithinoneyear`		`16`	`188,240`	`62,708`	`271,673`	`112,302`
`Cashatbankandin`	`hand`		`2,495,051`	`1,780,262`	`2,405,998`	`1,731,054`
			`2,683,291`	`1,842,970`	`2,677,671`	`1,843,356`
`LIABILITIES:`
`Creditors:Amounts`	`fallingduewithinoneyear`	`17`	`1,460,932`	`1,587,318`	`1,455,313`	`1,587,707`
`NETCURRENTASSETS`			`1,222,359`	`255,652`	`1,222,358`	`255,649`
`TOTALASSETSLESS`	`CURRENTLIABILITIES`		`6,415,523`	`5,377,152`	`6,415,523`	`5,377,152`
`Creditors:Amounts`	`fallingdueaftermorethan`
`oneyear`		`18`	`2,130,236`	`1,902,486`	`2,130,236`	`1,902,486`
`TOTALNETASSETS`			`4,285,287`	`3,474,666`	`4,285,287`	`3,474,666`
`THEFUNDSOFTHE`	`GROUP/ CHARITY:`
`Endowmentfunds`			`1,975,728`	`2,004,724`	`1,975,728`	`2,004,724`
`Restrictedincomefunds`		`20`	`32,258`	`16,293`	`32,258`	`16,293`
`Unrestrictedfunds`
`Propertyfund`		`20`	`1,127,058`	`1,099,666`	`1,127,058`	`1,099,666`
`Otherdesignatedfunds`			`5,760`	`5,760`	`5,760`	`5,760`
`Generalfund`		`20`	`1,144,483`	`348,223`	`1,144,483`	`348,223`
`Totalunrestrictedfunds`			`2,277,301`	`1,453,649`	`2,277,301`	`1,453,649`
`TOTALGROUP/-CHARITYFUNDS`			`‘4,285,287`	`3,474,666`	`“4,285,287`	`3,474,666`

`TRUROHIGHSCHOOLFORGIRLS`
`STATEMENTOFCASHFLOWS`
`FORTHEYEARENDED31AUGUST2022`
		`2022`		`2021`
		`£`		`£`
`CASHFLOWFROMOPERATINGACTIVITIES:`
`Netincomefromthereportingperiod(asperstatementoffinancial`
`activities)`		`810,621`		`551,891`
`Adjustmentsfor:`
`Depreciationcharges`		`251,943`		`241,620`
`Dividends,interestandrentsfrominvestments`		`2`		`-`
`Interestpayable`		`57,152`		`48,170`
`(Increase)/Decreaseindebtors`		`47,120`		`6,388`
`(Decrease)/Increase` `increditors`		`23,016`		`274,237`
`NETCASHPROVIDEDBYOPERATINGACTIVITIES`		`1,095,610`		`1,122,306`
`CASHFLOWSFROMINVESTINGACTIVITIES:`
`Dividends,interestandrentsfrominvestments`		`2`		`-`
`Purchaseofproperty,plantandequipment`	`-`	`323,671`	`-`	`112,221`
`NETCASHUSEDINOPERATINGACTIVITIES`	`-`	`323,669`	`-`	`112,221`
`CASHFLOWSFROMFINANCINGACTIVITIES:`
`Proceedsofnewborrowings`		`1,900,000`		`-`
`Repaymentsofborrowings`	`-`	`1,900,000`	`-`	`225,000`
`Interestpayable`	`-`	`57,152`	`-`	`48,170`
`NETCASHUSEDINFINANCINGACTIVITIES`	`-`	`57,152`	`-`	`273,170`
`CHANGEINCASHANDCASHEQUIVALENTSINTHEREPORTINGPERIOD`		`714,789`		`736,915`
`Cashandcashequivalentsatthebeginningofthereportingperiod`		`1,780,262`		`1,043,347`
`CASHANDCASHEQUIVALENTSATTHEENDOFTHEREPORTINGPERIOD`		`2,495,051`		`1,780,262`
`ANALYSISOFCASHANDCASHEQUIVALENTS`
`Cashatbankandinhand`		`2,495,051`		`1,780,262`

`TRUROHIGHSCHOOLFORGIRLS`	`TRUROHIGHSCHOOLFORGIRLS`
`NOTESTOTHEFINANCIALSTATEMENTS`		`(Continued)`
`FOR`	`THEYEARENDED31AUGUST2022`
`8`	`Investments`	`Unrestricted`	`—_Restricted`	`Endowment`	`Total`	`Total`
		`funds`	`funds`	`funds`	`2022`	`2021`
		`£`	`£`	`£`	`£`	`£`
	`Bankandotherinterest`	`2`	`-`	`-`	`2`	`-`
		`2`	`-`	`-`	`2`	`-`
`9`	`Raisingfunds`	`Unrestricted`	`Restricted`	`Endowment`	`Total`	`Total`
		`funds`	`funds`	`funds`	`2022`	`2021`
		`£`	`£`	`£`	`£`	`£`
	`Costofsubsidiarytradingactivities`	`42,690`	`-`	`-`	`42,690`	`41,105`
		`42,690`	`=`	`-`	`42,690`	`41,105`
`10`	`Analysisofexpenditure`
					`2022`	`2021`
		`Staffcosts`	`Depreciation`	`Other`	`Total`	`Total`
		`£`	`£`	`£`	`£`	`£`
	`Raisingfunds:`
	`Fundraisingcosts`	`20,710`		`21,980`	`42,690`	`41,105`
	`Charitableactivities:`
	`Teachingcosts`	`2,286,940`	`-`	`367,945`	`2,654,885`	`2,304,021`
	`Welfarecosts`	`122,107`	`-`	`447,715`	`569,822`	`510,588`
	`Premisescosts`	`191,399`	`102,187`	`492,712`	`786,298`	`679,588`
	`Supportcosts`	`292,398`	`149,820`	`279,280`	`721,498`	`614,593`
	`Governancecosts`			`95,673`	`95,673`	`90,285`
	`Charitablepublicitycosts`	`90,288`	`-`	`47,208`	`137,496`	`125,137`
	`Financecosts`			`147,531`	`147,531`	`174,590`
		`3,003,842`	`252,007`	`1,900,044`	`5,155,893`	`4,539,907`
`11`	`Governancecosts`
					`2022`	`2021`
					`£`	`£`
	`Auditor'sremuneration`				`18,775`	`9,226`
	`Otherprofessionalfees`				`31,820`	`16,480`
	`Governors’expenses`				`342`	`2,310`
	`Othercosts`				`44,736`	`62,269`
					`95,673`	`90,285`
`12`	`Netincome`
					`2022`	`2021`
					`£`	`£`
	`Netincomefortheyearisstatedaftercharging/(crediting):`
	`Amountspayableunderoperatingleases` `Depreciationontangiblefixedassets`				`38,962` `252,007`	`59,992` `241,620`
	`Interestpayableonloans`				`57,152`	`48,170`
	`Baddebtwriteoffsandprovision`				`52,495`	`83,279`
	`Auditor'sremuneration:`
	`Auditofthefinancialstatements`				`16,975`	`7,786`
	`Otherservices`				`1,800`	`1,440`
		`30`

`Tangibleassets`
	`Landand`		`Assetsunder`	`Fixturesand`
	`buildings`		`construction`	`equipment`	`Vehicles`	`Total`
`Group& Charity`	`£`		`£`	`£`	`£`		`£`
`Cost:`
`Asat1September2021`	`5,833,299`		`39,676`	`1,547,313`	`11,600`	`7,431,888`
`Additions`	`96,178`		`-`	`217,994`	`9,499`	`323,671`
`Transfers`	`39,676`	`-`	`39,676`			`-`
`Disposals`	`-`			`-`	`-`	`-`
`Asat31August2022`	`5,969,153`		`-`	`1,765,307`	`21,099`	`7,755,559`
`Depreciation:`
`Asat1September2021`	`974,185`		`-`	`1,334,883`	`1,320`	`2,310,388`
`Chargedfortheyear`	`102,187`			`145,599`	`4,221`	`252,007`
`Disposals`	`-`			`-`	`-`	`-`
`Asat31August2022`	`1,076,372`		`-`	`1,480,482`	`5,541`	`2,562,395`
`Netbookvalue:`
`Asat31August2022`	`4,892,781`		`-`	`284,825`	`15,558`	`5,193,164`
`Asat31August2021`	`4,859,114`		`39,676`	`212,430`	`10,280`	`5,121,500`

`18`	`Creditors:Amountsfallingdueaftermorethanoneyear`	`Creditors:Amountsfallingdueaftermorethanoneyear`
		`Duewithin`	`Duewithin`		`Dueafter`	`2022`	`2021`
		`1to2 years`	`2to5 years`		`5years`	`Total`	`Total`
	`Groupandcharity`	`£`		`£`	`£`	`£`	`£`
	`Loans`	`108,230`	`354,586`		`1,407,355`	`1,870,171`	`1,675,000`
	`Deposits(note19)`	`25,000`	`109,381`		`125,684`	`260,065`	`227,486`
	`Prepaidfees(note19)`	`-`		`-`	`-`	`-`	`-`
		`133,230`	`463,967`		`1,533,039`	`2,130,236`	`1,902,486`
`19`	`Deferredincome`
	`Prepaidfeesanddeposits`
	`Parentspayforfeesinadvanceandprovide`	`depositsto`	`secureplaces`	`for`	`pupils.Movementsduringthe`		`yearwereas`
	`follows:`
						`2022`	`2021`
						`£`	`£`
	`Balancebroughtforwardat1 September2021`					`1,349,192`	`1,038,965`
	`Amountsreceivedduringtheyear`					`1,127,064`	`1,433,221`
	`Amountsrecognisedasincomeduringtheyear`					`(1,196,318)`	`(1,084,274)`
	`Amountsrepaidtoparentsduringtheyear`					`(43,785)`	`(38,720)`
	`Balancecarriedforwardat31August2022`					`1,236,153`	`1,349,192`

`TRUROHIGHSCHOOLFORGIRLS`	`TRUROHIGHSCHOOLFORGIRLS`
`NOTESTOTHEFINANCIALSTATEMENTS(Continued)`
`FOR`	`THEYEARENDED31AUGUST`	`2022`
`28`	`Comparativecharitystatementoffinancialactivities`
	`Thestatementoffinancialactivitiesfortheyearended31August2021isreproduced`				`below:`
		`Unrestricted`	`Restricted`	`Endowment`		`Total`	`Total`
		`funds`	`funds`	`funds`		`2021`	`2020`
		`£`	`£`		`£`	`£`	`£`
	`INCOMEANDENDOWMENTS`
	`Donationsandlegacies`	`55,196`	`5,596`		`-`	`60,792`	`56,087`
	`Charitableactivities:`
	`Schoolfees`	`4,688,213`		`-`	`-`	`4,688,213`	`4,201,845`
	`Othereducationalincome`	`277,180`		`-`	`-`	`277,180`	`191,810`
	`Othertradingactivities`	`“65,614`		`-`	`-`	`65,614`	`60,677`
	`Investments`	`-`		`-`	`-`	`-`	`663`
	`Other` `—`	`¢`		`=`	`=`	`=.`
	`TOTAL`	`5,086,202`	`5,596`		`-`	`5,091,798`	`4,511,082`
	`EXPENDITUREON:`
	`Raisingfunds`	`(41,105)`	`-`		`-`	`(41,105)`	`(35,533)`
	`Charitableactivities`	`(4,461,360)`	`(4,045)`	`(33,397)`		`(4,498,802)`	`(4,239,226)`
	`Other` `TOTAL`	`-` `(4,502,464)`	`-` `(4,045)` `(33,397)`		`-`	`-` `(4,539,907)`	`-` `(4,274,759)`
	`Netincome/expenditureBefore`	`583,738`	`1,551`	`(33,397)`		`551,892`	`236,323`
	`investmentgains/(losses)`
	`-Net-gains/(losses)oninvestments`	`-`	`-`		`-`	`-`	`-`
	`NETINCOME`	`583,738`	`1,551`	`(33,397)`		`551,892`	`236,323`
	`NETMOVEMENTINFUNDS`	`583,738`	`1551`	`(33,397)`		`551,892`	`236,323`
	`TRANSFERBETWEENFUNDS`	`(1,819)`	`(2,581)`	`4,400`		`-`	`-`
	`RECONCILIATIONOFFUNDS:`
	`Totalfundsbroughtforward`	`871,731`	`17,324`	`2,033,719`		`2,922,774`	`2,686,452`
	`TOTALFUNDSCARRIEDFORWARD`	`1,453,648`	`16,293`	`2,004,724`		`3,474,665`	`2,922,775`