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||||Page|
|---|---|---|---|
|Reference and administrative
details ofthe Charity, its Trustees and advisers||||
|Trustees' report||||
|Independent|auditors'|report on the financial statements|10-13|
|Consolidated|statement
offinancial activities|||
|Consolidated|balance|sheet||
|Charity balance sheet||||
|Consolidated|statement
ofcash flows||17|
|Notes to the|financial|statements|18-32|
|Trustees|||The Rev'd Canon|The Rev'd Canon|The Rev'd Canon|L M Barley&, 2|L M Barley&, 2|L M Barley&, 2||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||Mrs S Burkard&,||:-.|||||||||
||||Mrs A Eaves&, z|||||||||||
||||Mr A TJohnson,
Safeguarding,
Mr J Keast OBE1,2 3||||||Whistleblowing||(Resigned||1G December 2023)1,2|
||||Mr W Pellew-Harvey&,
3|||||||||||
||||Mrs A Ramsey&,||3|||||||||
||||Mr J FJ Taylor
Mr A J Thould,||MBE&,2
Chair1 2.'|||||||||
||||Mr C Vulliamyl,||3|||||||||
||||The Very Rev'd||R C Bush|||(Resigned 25 November||||2022)||
||||The Right Rev'd P Mounstephen
fvlr S Pavton
(Appointed
28 June||||||(Resigned
2023)1|25|November||2022)|
||||Mr A D D Heath||(Appointed|||22 September||2023)&. -||||
||||' Governance|and Nominations|||||Committee|||||
||||-' Education
and Pastoral
Committee
' Finance and School Committee|||||||||||
|Charity registered||||||||||||||
|number|||306577|||||||||||
|Principal|office||Falmouth
Road|||||||||||
||||TIUI0|||||||||||
||||Cornwall|||||||||||
||||TR1 2HU|||||||||||
|Principal|operating|||||||||||||
|office|||Falmouth
Road|||||||||||
||||Truro|||||||||||
||||Cornwall|||||||||||
|Secretary|||Mrs S Bucld|||||||||||
|independent||auditors|Bishop Fleming|LLP||||||||||
||||Chartered
Accountants|||||||||||
||||Chy Nyverow|||||||||||
||||Newham
Road|||||||||||
||||Tlul0|||||||||||
||||Cornwall|||||||||||
||||TR1 2DP|||||||||||
|Bankers|||Barclays|||||||||||
||||14 King Street|||||||||||
||||Truro|||||||||||
||||Cornwail|||||||||||
||||TR1 2RB|||||||||||
|Solicitor s|||Stephens
Scown||LLP|||||||||
||||Osprey House|||||||||||
||||Malpas Road|||||||||||
||||Truro|||||||||||
||||Cornwall|||||||||||
||||TR1 1UT|||||||||||
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|||Endowment|Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
||Note|funds
2023
E|funds
2023
F|funds
2023
f|funds
2023
f.|funds
2022
E|
|Income and|||||||
|endowments
from:
Donations
and legacies
Charitable
activities|2
3||11,044|6,247,895|11,044
6,247,895|19„258
5,802,37'I|
|Other trading
activities|4|||183,304|183,304|144,883|
|Total income and
endowments|||11,044|6,431,199|6,442,243|5,966,512|
|Expenditure
on:
Raising funds
Charitable
activities||||55,506
6,019,705|55,506
6,019,705|42,690
5,113,200|
|Total expenditure||||6,075,211|6,075,211|5,155,890|
|Net income|||11,044|355,988|367,032|810,622|
|Transfers
betvveen
funds||(33,396)|(2,581)|35,977|||
|Net movement
in
funds||(33,396)|8,463|391,965|367,032|810,622|
|Reconciliation
of|||||||
|funds:|||||||
|Total funds brought
forward||1,975,728|32,258|2,277,301|4,285,287|3,474.665|
|Net movement
in funds||(33,396)|8,463|391,965|367,Q32|810,622|
|Total funds carried
forward||1,942,332|40,721|2,669,266|4,652,319|4.285,287|
##
|||||||2023||2022|
|---|---|---|---|---|---|---|---|---|
|||||Note||F||E|
|Fixed assets|||||||||
|Tangible assets||||||5,597,931||5,193,164|
|Current assets||||||5,597,931||5,193,164|
|Debtors|||||115,357||202,089||
|Cash at bank and|in|hand|||2,494,611||2,495,051||
||||||2,609,968||2,69?,140||
|Creditors:
amounts|falling||due within one||||||
|year||||12|(1,611,612)||(1,474,781 )||
|Net current assets||||||998,356||1,222,359|
|Total assets less|current||liabilities|||6,596,287||6,415,523|
|Creditors:
amounts|falling||due after more||||||
|than one year||||||(1,943,968)||(2,130,236)|
|Net assets excluding||pension asset||||4,652,319||4,285,287|
|Total net assets||||||4,652,319||-'l,285,287|
|Charity funds|||||||||
|Endowment
funds
Restricted
funds||||||1,942,332
40,721||1,975 728
32,258|
|Unrestricted
funds||||||2,669,266||2,277.301|
|Total funds||||||4,652,319||4,285,287|
##
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##
||||||||2023||2022|
|---|---|---|---|---|---|---|---|---|---|
||||||Note||||E|
|Fixed assets||||||||||
|Tangible assets|||||9||5,597,931||5,193,164|
|Investments|||||10||1||'l|
||||||||5,597,932||5,193,165|
|Current assets||||||||||
|Debtors||||||202,105||271,673||
|Cash at bank and|in|hand||||2,399,390||2,405,998||
|||||||2,601,495||2.677,671||
|Creditors: amounts
year||falling||due within one|12|(1,603,140)||(1,455.313)||
|Net current assets|||||||998,355||1,222,358|
|Total assets less|current|||liabilities|||6,596,287||6,415,523|
|Creditors: amounts
than one year||falling||due after more|||(1,943,968)||(2,130,236)|
|Net assets excluding|||pension asset||||4,652,319||4,285,287|
|Total net assets|||||||4,652,319||4,285,287|
|Charity funds||||||||||
|Endowment
funds|||||||1,942,332||1,975,728|
|Restricted
funds|||||14||40,721||32,258|
|Unrestricted
funds|||||14||2,669,266||2,277,301|
|Total funds|||||||4,652,319||4,285,287|
##
|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|Cash flows from operating||activities|||||E|
|Net cash used
in operating||activities||||842.792|1,095,610|
|Cash flows from investing||activities||||||
|Dividends,
interests
and rents from investments|||||||2|
|Purchase
of tangible
fixed assets||||||(707,489)|(323,671)|
|Net cash used
in investing||activities||||(707,489)|(323,669)|
|Cash flows from financing||activities||||||
|Cash inflows from new borrowing|||||||1,900,000|
|Repayments
of borrawing
Interest payable||||||(47,011)
(88,732)|(1,900,000)
(57,152)|
|Net cash used
in financing||activities||||(135,743)|(57,152)|
|Change
in cash and cash|equivalents||in|the year||(440)|714,789|
|Cash and cash equivalents|at the beginning|||of the year||2,495,051|1,780,262|
|Cash and cash equivalents||at the end|of|the year||2,494,611|2,495,051|
|The notes an pages
18to 32||form part of these financial|||statements|||
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##
|Freehold|property|2 "/o|Straight|line|
|---|---|---|---|---|
|Building|Improvements|0'io|Straight|line|
|Motor vehicles||33'/n|Straight|line|
|Fixtures|and fittings|20'/o|Straight|line|
|Computer|equipment|20'/o|Straight|line|
##
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##
##
||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|
||funds|funds|funds|funds|
||2023|2023|2023|2022|
|||||E|
|Donations|'I 1,044||11,044|19,258|
##
||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2023|2023|2022|
||||||E|
|Gross school fees chargeable
Less Bursaries, Scholarships
Other educational
income||and other discounts|6,890,744
(963,730)
320,881|6,890,744
(963,730)
320,&81|6,489,750
(906,074)
218,695|
||||6,247,895|6,247,895|5,802,371|
##
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023|2023|2022|
|||||E|
|Other trading
income
Interest receivable||22,518
18,728|22,518
18,728|21,704
2|
|||41,246|41,246|21,706|
##
|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2023|2023|2022|
|||||||E|
|Income
Lettings|from subsidiary
income|trading|activities|140,042
2,016|140,042
2,016|121,87'1
1.306|
|||||142,058|142,058|123,177|
##
||Activities||||
|---|---|---|---|---|
||undertaken|Support|Total|Total|
||directly
2023|costs
2023|funds
2023|Tunds
2022|
||F|F|E|E|
|Education costs|2.999,990|107,115|3,107,105|2.654,884|
|Welfare costs||674.364|674,364|569,82'1|
|Premises costs||933,056|933,056|786,298|
|Other support costs
Finance costs||816,206
191,109|816,206
191,109|721,498
'147 531|
|Governance
costs||75,727|75,727|9567|
|Charitable
publicity costs||222.138|222,138|137,497|
||2,999,990|3.0'I 9,715|6,019,705|5,113,200|
##
|Auditors'
re|muneration||||||
|---|---|---|---|---|---|---|
|||||||2023|
|Fees payable|to the Charity's|auditor|for the audit of the Charity's|annual|accounts|8,515|
|Fees payable
to the Charity's
auditor
in respect of:
Taxation compliance
services
All non-audit
services not included
above||||||1,300
4,585|
##
##
##
||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|
||||||2023|2022|2023|2022|
|||||||E|E|E|
|VVages and||salaries|||2,769,392|2,4'I 5,017|2,747,351|2,394,307|
|Social security costs|||||276,123|248,058|276,123|248,058|
|Contribution||to pension schemes|||25,958|'I9,536|25,958|lg 536|
|Operating|costs of defined||benefit pension||||||
|schemes|||||451,928|375,697|451,928|375,697|
||||||3,523,401|3,058,308|3,501,360|3,037,598|
|The average||number ofpersons||employed|by the Charity
during|the year was|as follows.||
||||||||Group|Group|
||||||||2023|2022|
||||||||No,|No.|
|Teaching|staff||||||53|48|
|Other staff|||||||46|47|
||||||||99||
##
##
##
||Freehold|Motor|Fixtures and|Computer||
|---|---|---|---|---|---|
||property|vehicles|fittings|equipment|Total|
||F||F|E||
|COST OR VALUATION||||||
|At
I September 2022|5,969,153|21,099|1,453,985|311,322|7,755,559|
|Additions|339,179||326,535|41,775|707,489|
|At 31 August 2023|6,308,332|21,099|'1,780,520|353,097|8,463,048|
|DEPRE CI ATION||||||
|At
'I September 2022|1,076,372|5,541|1,217,295|263,187|2,562,395|
|Charge
for the year|104,432|4,221|158,658|35,411|302,722|
|At 31 August 2023|1,180,804|9,762|1,375,953|298,598|2,865,117|
|NET BOOK VALUE||||||
|At 31 August 2023|5,127,528|11,337|404,567|54,499|5,597,931|
|CHARITY|
|---|
|COST OR VALUATION|
|At
I September 2022|
|At 31 August 2023|
|NET BOOK VALUE|
|At 31 August 2023|
|AT 31 AUGUST 2022|
##
##
|||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|
|||||2023
f.|2022f|2023
F|2022
E|
|DUE WITHIN|ONE YEAR|||||||
|Trade debtors||||23,182|86,026|20,878|76,429|
|Other debtors|||||13,848|95,897|93,029|
|Prepayments|and accrued income|||92,175|102,215|85,330|102.215|
|||||115,357|202,089|202,105|271,673|
|Creditors: Amounts||falling due within|one year|||||
|||||Group|Group|Charity|Charity|
|||||2023|2022|2023|2022|
|||||F|E||E|
|Deposits||||43,190|34,090|43,190|34,090|
|Bank loans||||186,876|52,279|186,876|52,279|
|Prepaid fees||||796,690|1,055,8'I 2|796,690|'1,055,8'I2|
|Trade creditors||||264,109|132,304|260,737|1'I5,548|
|Other taxation|and social security|||87,755|62,185|87,755|62,185|
|Other creditors||||108,972|114,550|108,972|1 'I 6,823|
|Accruals and deferred||income||124,020|23,561|118,920|18.576|
|||||1,611,612|1,474,781|1,603,140|'1,455,313|
|Creditors: Amounts||falling due after|more than|one year||||
|||||Group|Group|Charity|Charity|
|||||2023|2022|2023|2022|
||||||E||E|
|Bank loans||||1,711,013|1,870,171|1,711,013|'l,870,17'I|
|Other creditors||||232,955|260,065|232,955|260,065|
|||||1,943,968|2,130,236|1,943,968|2,130,236|
##
##
##
##
##
|Statement
off|un|ds
-current|year|||||
|---|---|---|---|---|---|---|---|
||||Balance at 1||||Balance at|
||||September|||Transfers|31August|
||||2022|Income|Expenditure|in/out|2023|
|||||F||||
|UNRESTRICTED||FUNDS||||||
|DESIGNATED FUNDS||||||||
|Property
fund|||1,127,058|||292,699|1,419,75?|
|Other unrestricted||funds|5,760||||5,760|
||||1,132,818|||292,699|1,425,517|
|GENERAL FUNDS||||||||
|General
fund|||1,144,4&3|6,431,199|(6,075,211)|(256,722)|1,243,749|
|TOTAL UNRESTRICTED||||||||
|FUNDS|||2,277,301|6,431,199|(6,075,211)|35,977|2,669,266|
|ENDOWMENT|FUNDS|||||||
|Foundation
fund|||1,865,728|||(33,396)|1,832,332|
|Sinking
fund|||110,000||||110,000|
||||1,975,728|||(33.396)|1,942,332|
|RESTRICTED FUNDS||||||||
|Other restricted|funds||14,301|616|||14,917|
|Truro High Foundation|||5,700|10,428|||16,128|
|Murphy
Donation|||12,257|||(2,581)|9,676|
||||32,258|11,044||(2,581)|40,721|
|TOTAL OF FUNDS|||4,285,287|6,442,243|(6,075,211)||4,652,319|
##
|Statement
of f|und|s - prior y|ear|||||
|---|---|---|---|---|---|---|---|
||||Balance at||||Balance at|
||||1 September|||Transfers|31 August|
||||2021|Income|Expenditure|) Il/out|2022|
||||E|E|E|E|E|
|UNRESTRICTED FUNDS||||||||
|DESIGNATED|FUNDS|||||||
|Prope)ly fund|||1,099,666|||27,392|1,127,058|
|Other unrestricted||funds|5,760||||5,760|
||||1 1054o6|||27,392|1,132,818|
|GENERAL FUNDS||||||||
|General
fund|||348,223|5.9'7,968|(5,122.497')|(29,2'I 1)|'1,144,483|
|TOTAL UNRESTRICTED||||||||
|FUNDS|||l,453,649|5,947,968|(5,122,497)|(1,819)|2,277,301|
|ENDOWMENT|FUNDS|||||||
|Foundation
fund|||1,899,124||(33,396)||1,865,728|
|Sinking
fund|||105,600|||4,400|110,000|
||||2,004,724||(33,396)|4,400|1,975,728|
|RESTRICTED FUNDS||||||||
|Other restricted|funds||1,455|12,846|||14,301|
|Truro High Foundation||||5.700|||5,700|
|Murphy
Donation|||'14,838|||(2,581)|'I2,257|
||||16,293|18,546||(2,581)|32,258|
|TOTAL OF FUNDS|||3,474,666|5.966,514|(5,155,893)||4,285,287|
##
|Summary|of funds|- current ye|ar|||||
|---|---|---|---|---|---|---|---|
||||Balance at 1||||Balance at|
||||September|||Transfers|31August|
||||2022|Income|Expenditure|in/out|2023|
|||||||F|F|
|Designated|funds||1,132,818|||292,699|1,425,517|
|General funds|||1,144,483|6,431,199|(6,075,211)|(256,722)|1,243,749|
|Endowment|funds||1,975,728|||(33,396)|1,942,332|
|Restricted|funds||32,258|11,044||(2,581)|40,721|
||||4,285,287|6,442,243|(6,075,211)||4,652,319|
|Summary|offunds|-prior year||||||
||||Balance at||||Balance at|
||||1 September|||Transfers|31 August|
||||2021|Income|Expenditure|in/out|2022|
||||E|E|F|E|E|
|Designated|funds||1,105426|||27,392|1,132,818|
|General
funds|||348,223|5,947,968|(5.122.497)|(29,211)|1,144,483|
|Endowment|funds||2,004,724||(33,396)|4,400|1,975,728|
|Restricted|funds||16,293|18,546||(2,581)|32,258|
||||3,474,666|5,966,514|(5,155.893)||4,285,287|
##
|Analysis|of n|et assets between
funds
-|current year||||
|---|---|---|---|---|---|---|
||||Endowment|Restricted|Unrestricted|Total|
||||funds|funds|funds|funds|
||||2023|2023|2023|2023|
||||E|||F|
|Tangible|fixed|assets|1,942,332||3,655,599|5,597,931|
|Current|assets|||40,72'I|2,569,247|2,609,968|
|Creditors|due|within one year|||(1,611,612)|(1,611,612)|
|Creditors|due|in more than one year|||('I,943,968)|(1,943,968)|
|TOTAL|||1,942,332|40,721|2,669,266|4,652,319|
||||Endowment|Restricted|Unrestricted|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2022|2022|2022|2022|
||||E|E|E|F|
|Tangible|fixed|assets|1,975,?28||3,217,436|5,193,164|
|Current|assets|||32,258|2,664.882|2,697.140|
|Creditors|due|within one year|||(1,474,78'I )|(I,474,78 I I|
|Creditors|due|in more than one year|||(2,130,236)|(2,130,236)|
|TOTAL|||1,975.728|32,258|2.277,301|4,285,287|
|||||Group|Group|
|---|---|---|---|---|---|
|||||2023|2022|
|Net income for the year (as per Statement||of Financial|Activities!|367,032|810,622|
|ADJUSTMENTS FOR:||||||
|Depreciation
charges||||302,755|251,943|
|Dividends,
interests|and rents from investments||||(2)|
|Decrease/(increase)|in debtors|||75,371|{47,120)|
|Increase/(decrease)|in creditors|||(29,167)|23,016|
|Interest
payable||||88,732|57,152|
|NET CASH PROVIDED BYOPERATING||ACTIVITIES||804.723|'I,095,611|
##
|||||||Group|Group|
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||||||E|E|
|Cash|in|hand||||2,494,611|2,495,051|
|TOTAL||CASH|AND|CASH|EQUIVALENTS|2,494,611|2,495,051|
##
##
##
##
##
##
##
|under non|-can|cellable
operating
leases as follo|ws:||||
|---|---|---|---|---|---|---|
||||Group|Group|Charity|Charity|
||||2023|2022|2023|2022|
||||F|F|F|F|
|Not later than||1 year|46,662|41,074|46,662|41,074|
|Later than|1 year and not later than 5years||103,592|90,043|103,592|90,043|
||||150,254|131,117|150,254|131,117|
##
##
##
|Principal su|Principal su|bsidiaries|bsidiaries||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|The following||was a subsidiary||undertaking||of the Charity:|||||
|Name|||||||Company|Holding|Included|in|
||||||||number||consolidation||
|Truro|High School Trading||Limited||||08920547|100'/o|Yes||
|The financial||results of the|subsidiary||for|the year were:|||||
|Name||||||Income|Expenditure|Profitj(Loss)|Net|assets|
|||||||||/ Surplus/||E|
|||||||||(Deficit) for|||
|||||||||the year|||
|||||||||F|||
|Truro|High|School Trading|Limited|||140,042|(55,506)|84,536|||