2021-07-31-accounts

Annual Report
Year Ended 31 July 2021
Contents		Page
Trustees' Report
Independent Auditors' Report to the	Members	16
Consolidated Statement of Financial	Activities	19
Consolidated Balance Sheet		20
Company Balance Sheet		21
Consolidated Cash Flow Statement		22
Notes and Accounting Policies		24

				General	Restricted	2021	General	Restricted	2020
				Fund	Fund	Total	Fund	Fund	Total
			Notes		F		f		f
Income
Charitable Activities
School fees receivable			2	5,015,872		5,015,872	4,434,762	-	4,434,762
Ancillary trading income			3	479,555		479,555	382,307		382,307
Other trading activities
Commercial trading	operations		4	107,811		107,811	94,247		94,247
Government grant -	CJRS			108,890		108,890	138,475		138,475
Other income				56,124		56,124	42,943		42,943
Donations					500	500		11,596	11,596
Tota I income				5,768,252	500	5,768,752	5,092,734	11,596	5,104,330
Expenditure
Charitable Activities
School operating costs			5	5,512,831	5,000	5,517,831	4,967,403	6,446	4,973,849
Costs ofgenerating	funds
Commercial trading	operations		5	63,500		63,500	55,747		55,747
Total expenditure			5	5,576,331	5,000	5,581,331	5,023,150	6,446	5,029,596
Net income / (expenditure)
before transfers				191,921	(4,500)	187,421	69,584	5,150	74,734
Transfers between	funds
Net income / (expenditure)		and
movement in funds	for the	year		191,921	(4,500)	187,421	69,584	5,150	74,734
Funds as at 1 August	2020			1,027,915	5,150	1,033,065	958,331		958,331
Funds as at 31July	2021			1,219,836	650	1,220,486	1,027,915	5,150	1,033,065

Consolidated B	ala	nce	Sheet
31 July 2021
					2021	2020
			Notes
Fixed assets
Intangible assets
Tangible assets					2,250,756	2,349,231
					2,250,756	2,349,231
Current assets
Stock					49,967	45,123
Debtors					223,438	304,382
Cash at bank and	in hand				640,065	54,473
					913,470	403,978
Current liabilities
Amounts falling due within			one year	12	(1,072,584)	(809,707)
Net current liabilities					(159,114)	(405,729)
Total assets less	current		liabilities		2,091,642	1,943,502
Long term liabilities Amounts falling due after one year				12	(871,156)	(910,437)
Net assets					1,220,486	1,033,065
Restricted funds				13/14	650	5,150
Unrestricted general		fund		13/14	1,219,836	1,027,915
Total funds					1,220,486	1,033,065

31 July 2021
				2021	2020
		Notes
Fixed assets
Intangible assets			8
Tangible assets			9	2,250,756	2,349,231
Investments			10	2	2
				2,250,758	2,349,233
Current assets
Stocks				7,984	4,392
Debtors				302,594	365,064
Cash at bank and	in hand			601,123	30,412
				911,701	399,868
Current liabilities
Amounts falling due within		one year	12	(1,070,817)	(805,599)
Net current liabilities				(159,116)	(405,731)
Total assets less	current	liabilities		2,091,642	1,943,502
Long term liabilities
Amounts falling due after one year			12	(871,156)	(910,437)
Net assets				1,220,486	1,033,065
Restricted funds			13/14	650	5,150
Unrestricted general fund			13/14	1,219,836	1,027,915
Total funds				1,220,486	1,033,065

Year ended 31 July 2021
		2021	2020
	Notes
Net cash inflow from operations		847,544	199,401
Returns on investments and
Servicing offinance Finance costs paid		(33,300)	(26,961)
Capital expenditure and financial
Investment
Payments for tangible fixed assets		(153,475)	(236,994)
Proceeds from sale offixed assets		1,080	4,850
Net cash outflow from capital expenditure		(152,395)	(232,144)
Financing
Repayment of bank borrowing		(28,024)
Payment to finance lease creditors New finance lease agreements		(27,056) 33,662	(23,865) 25,795
Net cash (outflow) / inflow from financing		(21,418)	1,930
Increase / (decrease) in cash in the year		640,431	(57,774)
Reconciliation of net cash flow to
movement in net funds
Increase / (decrease) in cash		640,431	(57,774)
Change in net funds Net funds at 1 August 2020		640,431 (366)	(57,774) 57,408
Net (debt) funds at 31July 2021		640,065	(366)

Ye	ar ended 31 July 2	021
(i)	Reconciliation of net	incoming	resources to net cash flow from operations
				2021		2020
				E
	Net income for the year			187,421		74,734
	Elimination of non-operating		cashflows:
	Financing costs			33,300		26,961
	Amortisation charge					1,569
	Loss on disposal offixed assets			9,690		675
	Depreciation charge			241,176		249,903
	(Increase) / decrease	in stock		(4,844)		(4,028)
	(Increase) / decrease	in debtors		80,944		(42,846)
	Increase / (decrease)	in creditors		276,062		(88,349)
	Increase / (decrease)	in deposits		23,795		(19,218)
	Net cash inflow from operations			847,544		199,401
(ii)	Analysis ofchanges	in net funds
				At 1		At 31
				August	Cash	July
				2020	flows	2021
	Cash at bank and in	hand		54,473	585,592	640,065
	Bank overdraft			(54,839)	54,839
				(366)	640,431	640,065

Ye	ar Ended 3	1 July 2021	1 July 2021	1 July 2021	1 July 2021
2	Charitable	activities - School fees
							2021	2020
	Gross school fees receivable						5,961,501	5,493,203
	Less:
	Scholarships						(174,453)	(172,496)
	Bursaries						(298,160)	(281,297)
	Other discounts		and awards				(473,016)	(604,648)
							5,015,872	4,434,762
3	Charitable	activities —Ancillary			trading	income
							2021f	2020
	Catering and transport						383,717	289,734
	School trips	and	other re-chargeables				77,188	74,072
	Entrance and registration			fees			14,898	12,950
	Other income						3,752	5,551
							479,555	382,307

	Subsidiary	Subsidiary		Charity
	2021	2020	2021f	2020 E
Turnover and fee income	107,811	94,247	5,290,360	4,650,003
Cost ofsales: Subsidiary	(59,748)	(52,397)
Gross profit: Subsidiary	48,063	41,850
Administration: Subsidiary	(14,533)	(12,777)
Other income
Income for the year	33,530	29,073	5,671,722	5,018,883
Deed ofCovenant	(33,530)	(29,073)	33,530	29,073
Gross incoming resources			5,705,252	5,047,956
Costs of charitable activities			(5,517,831)	(4,973,849)
Retained income			187,421	74,107

				Staff	Other	Depreciation	Total	Total
				costsf	costs		2021	2020 E
	Charitable activities-
	Salary 8 Staff Costs		3,733,159				3,733,159	3,551,510
	Teaching				295,177		295,177	236,236
	Catering				204,063		204,063	135,875
	Estates/Grounds				478,825	199,500	678,325	546,397
	Governance				71,895		71,895	72,075
	Support costs ofschooling				493,536	41,676	535,212	431,756
	Charity		3,733,159		1,543,496	241,176	5,517,831	4,973,849
	Cost ofgenerating	funds:
	Trading costs ofthe	subsidiary			63,500		63,500	55,747
	Total Resources Expended
	Group		3,733,159		1,606,996	241,176	5,581,331	5,029,596
6	Expenditure —Other Disclosures
							2021	2020
	Auditors' remuneration:
	Audit fees						14,820	12,500
	Accounting and other		compliance	services			4,758	2,630
	Payroll services						10,502	11,055
	Depreciation of intangible		fixed assets (note 8)					1,569
	Depreciation oftangible		fixed assets	(note 9)			241,176	249,903
	Bank and other loan	interest payable					34,002	26,961

Ye	ar Ended 31 July	2	021
7	Staff Costs
									2021f	2020
	Wages and salaries Social security costs								3,010,379 258,794	2,868,354 245,768
	Other pension costs								463,986	437,388
									3,733,159	3,551,510
	Average number of	employees							137	134
	The number of higher		paid employees		was:
	290,001 - E100,000
	Ofthese employees,		the number	with	retirement		benefits
	accruing in defined	benefit pension schemes				was
									2021	2020
	Aggregate employee		remuneration	of	key management			personnel	443,926	326,448
8	Fixed Assets - Intangible
								Charity	Subsidiary	Group
					Software			Total	Total	Totalf
	Cost
	At 1 August 2020					33,404		33,404		33,404
	At 31July 2021					33,404		33,404		33,404
	Depreciation
	At 1 August 2020					33,404		33,404		33,404
	At 31 July 2021					33,404		33,404		33,404
	Net book amounts
	At 31 July 2020
	At 31 July 2021

						Subsidiary	Subsidiary
		Freehold	Fixtures Computer		Motor	Charity	Fixtures	Group
		properties	&fittings	equipm't	vehicles	Total	&fittings	Total
		E
Cost
At 1 August 2020		3,420,283	2,705,421	119,930	135,533	6,381,167	1,492	6,382,659
Additions		15,367	93,598	13,816	30,694	153,475	-	153,475
Disposals			(43,663)	-	(2,600)	(46,263)	-	(46,263)
Transfers
At 31 July	2021	3,435,650	2,755,356	133,746	163,627	6,488,379	1,492	6,489,871
Depreciation
At 1 August	2020	1,889,731	1,958,691	93,004	90,510	4,031,936	1,492	4,033,428
Charge for	year	52,416	147,084	18,575	23,101	241,176		241,176
Eliminated	on disposals		(32,958)		(2,531)	(35,489)		(35,489)
Transfers
At 31July	2021	1,942,147	2,072,817	111,579	111,080	4,237,623	1,492	4,239,115
Net book amounts
At 31 July 2020		1,530,552	746,730	26,926	45,023	2,349,231	-	2,349,231
At 31July	2021	1,493,503	682,539	22,167	52,547	2,250,756	-	2,250,756

Ye	ar Ended 31 July	2021
11	Debtors
					Group	Company
				2021f	2020	2021 f	2020 f
	Fees receivable			121,140	178,608	121,140	178,608
	Trade debtors			38,953	92,231	38,224	91,583
	Amounts owed by subsidiary Deed ofcovenant payment		undertaking:			33,530	29,073
	Other amounts owed					46,355	37,766
	Prepayments and accrued income			63,345	33,543	63,345	28,034
				223,438	304,382	302,594	365,064
12	Creditors: payable	within one year
					Group	Company
				2021f	2020f	2021 f	2020 f
	Loans and bank overdraft			35,530	81,839	35,530	81,839
	Finance leases and	hire
	purchase agreements			31,104	21,771	31,104	21,771
	Trade creditors			100,509	43,085	100,509	40,677
	Fees received in advance			174,588	72,789	174,588	72,789
	Refundable deposits			235,474	211,679	235,474	211,679
	PAYE and social security			62,448	60,654	62,448	60,654
	Accruals and deferred income			432,931	317,890	431,164	316,190
				1,072,584	809,707	1,070,817	805,599
	Creditors: payable	after one year
					Group	Company
				2021f	2020	2021 f	2020 f
	Bank loan			836,446	873,000	836,446	873,000
	Finance leases and	hire
	purchase agreements			34,710	37,437	34,710	37,437
				871,156	910,437	871,156	910,437

Analysis in	mov	ements in	funds
			Balance			Transfers	Funds
		1	August 2020 F	Income f	Expenditure E	In/(out) E	31July 2021 F
Unrestricted	funds
General funds			1,027,915	5,768,252	(5,576,331)		1,219,836
Restricted	Funds
Clockhouse	Clock		5,000		(5,000)
Drama Outreach		Programme	150				150
Music Department		Fund		500			500
			5,150	500	(5,000)		650
Total funds			1,033,065	5,768,752	(5,581,331)		1,220,486

Analysis in	m	ovements in	funds —previou	s year
			Balance			Transfers	Funds
		1	August 2019	Income	Expenditure	In/(out)	31July 2020
Unrestricted		funds
General funds			958,331	5,092,734	(5,023,150)		1,027,915
Restricted	Funds
Clockhouse	Clock			5,000			5,000
3D Printer				3,500	(3,500)
Rugby Serum Machine Drama Outreach Programme				2,946 150	(2,946)		150
				11,596	(6,446)		5,150
Total funds			958,331	5,104,330	(5,029,596)		1,033,065

		Restricted	Unrestricted	Total	Restricted	Unrestricted	Total
		Funds	Funds	Funds	Fund	Funds	Funds
		2021 F	2021 f	2021	2020	2020	2020f
Fixed Assets			2,250,756	2,250,756		2,349,231	2,349,231
Cash at bank		650	639,415	640,065	5,150	49,323	54,473
Other net current	liabilities		(763,649)	(763,649)		(460,202)	(460,202)
Creditors due after one year			(906,686)	(906,686)		(910,437)	(910,437)
Total		650	1,219,836	1,220,486	5,150	1,027,915	1,033,065