| Page | ||
|---|---|---|
| Reference and administrative details |
ofthe School, its Trustees and advisers | |
| Trustees' report |
2-8 | |
| Trustees' responsibilities statement |
||
| Independent auditors' report on the |
financial statements | 10-13 |
| Consolidated statement offinancial |
activities | 14 |
| Consolidated balance sheet |
15 | |
| School balance sheet | ||
| Consolidated statement ofcash flows |
17 | |
| Notes to the financial statements | 18-37 |
| REFERENCE AND | REFERENCE AND | REFERENCE AND | ADMINISTRATIVE | DETAILS OF THE SCHOOL, ITSTRUSTEES AND ADVISERS | DETAILS OF THE SCHOOL, ITSTRUSTEES AND ADVISERS | DETAILS OF THE SCHOOL, ITSTRUSTEES AND ADVISERS | DETAILS OF THE SCHOOL, ITSTRUSTEES AND ADVISERS | DETAILS OF THE SCHOOL, ITSTRUSTEES AND ADVISERS |
|---|---|---|---|---|---|---|---|---|
| FOR THE | YEAR ENDED 31AUGUST 2022 | |||||||
| Trustees | DJ Lewis, Chair | (appointed | 17May 2022) | |||||
| S Bartleet (resigned | 28 April | 2022) | ||||||
| D E Clayton-Hatfield | (resigned 17May 2022) | |||||||
| M J L Commander | (resigned | 15March 2023) | ||||||
| J Giles | ||||||||
| VJ Harding (appointed |
17May 2022) | |||||||
| M Mahaffey (appointed |
10October 2022) | |||||||
| J M Mills (resigned | 17May 2022) | |||||||
| A M Piper (resigned | 10March 2022) | |||||||
| A Rainbow (resigned | 1 June | 2022) | ||||||
| D M Thomas | ||||||||
| SVakil (appointed | 14 | March | 2023) | |||||
| J D Wilton (appointed | 1 June 2022) | |||||||
| L Wu (appointed | 17 | May 2022) | ||||||
| Company | registered | |||||||
| number | 00893985 | |||||||
| Charity registered | ||||||||
| number | 307014 | |||||||
| Registered | office | Vinehall Road | ||||||
| Robertsb ridge | ||||||||
| East Sussex | ||||||||
| TN32 5JL | ||||||||
| Headmaster | J Powis BSc | |||||||
| Company | secretary | W R Walker | ||||||
| Independent | auditors | Knill James LLP | ||||||
| Chartered Accountants |
||||||||
| Statutory Auditor |
||||||||
| One Bell Lane | ||||||||
| Lewes | ||||||||
| East Sussex | ||||||||
| BN7 1JU | ||||||||
| Bankers | National Westminster |
Bank Pic | ||||||
| 24 Havelock Road | ||||||||
| Hastings | ||||||||
| East Sussex | ||||||||
| TN34 1BW | ||||||||
| Solicitors | Veale Wasborough | Vizards LLP | ||||||
| PO Box3501 | ||||||||
| Bristol | ||||||||
| BS22FL |
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| Note | 2022f | 2022 E |
2022 E |
2021 E |
||
| Income from: | ||||||
| Donations and legacies |
53,196 | |||||
| Charitable activities |
2,386,534 | 2,386,534 | 2,580,314 | |||
| Other trading activities |
21,184 | 21,184 | 95,797 | |||
| Investments | 1,244 | 1,244 | 39 | |||
| Other income | 784,134 | |||||
| Total income | 2,408,962 | 2,408,962 | 3,513,480 | |||
| Expenditure on: |
||||||
| Raising funds | 37,049 | 37,049 | 25,683 | |||
| Charitable activities |
9 | 3,491,620 | 7,596 | 3,499,216 | 3,364,471 | |
| Other expenditure | 10 | 1,280,485 | 1,280,485 | |||
| Total expenditure | 4,809,154 | 7,596 | 4,816,750 | 3,390,154 | ||
| Net movement in funds before other |
||||||
| recognised gains/(losses) |
(2,400,192) | (7,596) | (2,407,788) | 123,326 | ||
| Other recognised gains/(losses): |
||||||
| Losses on revaluation | offixed assets | (1,512,246) | ||||
| Net movement in funds |
(2,400,192) | (7,596) | (2,407,788) | (1,388,920) | ||
| Reconciliation offunds: |
||||||
| Total funds brought forward |
5,616,152 | 112,066 | 5,728,218 | 7,117,138 | ||
| Net movement in funds |
(2,400,192) | (7,596) | (2,407,788) | (1,388,920) | ||
| Total funds carried forward | 3,215,960 | 104,470 | 3,320,430 | 5,728,218 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Note | E | ||||||
| Fixed assets | |||||||
| Tangible assets | 15 | 22,292 | 5,419,971 | ||||
| Current assets | |||||||
| Stocks | 17 | 513 | 513 | ||||
| Debtors | 18 | 114,242 | 134,378 | ||||
| Cash at bank and | in hand | 3,895,563 | 815,202 | ||||
| 4,010,318 | 950,093 | ||||||
| Creditors: amounts | falling | due within one | |||||
| year | 19 | (546,853) | (495,517) | ||||
| Net current assets | 3,463,465 | 454,576 | |||||
| Total assets less | current | liabilities | 3,485,757 | 5,874,547 | |||
| Creditors: amounts | falling | due after more | |||||
| than one year | 20 | (165,328) | (146,329) | ||||
| Total net assets | 3,320,429 | 5,728,218 | |||||
| Charity funds | |||||||
| Restricted funds | 21 | 104„470 | 112,066 | ||||
| Unrestricted funds |
21 | 3,215,959 | 5,616,152 | ||||
| Total funds | 3,320,429 | 5,728,218 |
| SCHOOL BALANCE SHEET | SCHOOL BALANCE SHEET | ||||||
|---|---|---|---|---|---|---|---|
| AS AT 31 | AUGUST 2022 | ||||||
| Note | 2022f | 2021 | |||||
| Fixed assets | |||||||
| Tangible assets | 15 | 22,292 | 5,419,971 | ||||
| Investments | 16 | 100 | 100 | ||||
| 22,392 | 5,420,071 | ||||||
| Current assets | |||||||
| Stocks | 17 | 513 | 513 | ||||
| Debtors | 18 | 114„242 | 134,377 | ||||
| Cash at bank and | in hand | 3,895,463 | 815,102 | ||||
| 4,010,218 | 949,992 | ||||||
| Creditors: amounts | falling | due within one | |||||
| year | 19 | (546,852) | (495,516) | ||||
| Net current assets | 3463,366 | 454,476 | |||||
| Total assets less | current | liabilities | 3,485,758 | 5,874,547 | |||
| Creditors: amounts | falling | due after more | |||||
| than one year | 20 | (165,328) | (146,329) | ||||
| Total net assets | 3,320,430 | 5,728,218 | |||||
| Charity funds | |||||||
| Restricted funds |
21 | 104,470 | 112,066 | ||||
| Unrestricted funds |
21 | 3,215,960 | 5,616,152 | ||||
| Total funds | 3,320,430 | 5,728,218 |
| 2022f | 2021 | ||
|---|---|---|---|
| Cash flows from operating activities |
|||
| Net cash used in operating activities |
(1,148,871) | (685,634) | |
| Cash flows from investing activities |
|||
| Dividends, interests and rents from investments |
1,244 | 39 | |
| Proceeds from the sale oftangible fixed assets |
4,250,000 | 991,644 | |
| Purchase oftangible fixed assets | (22,012) | (280) | |
| Net cash provided by investing activities |
4,229,232 | 991,403 | |
| Change in cash and cash equivalents in |
the year | 3,080,361 | 305,769 |
| Cash and cash equivalents at the beginning |
ofthe year | 815,202 | 509,433 |
| Cash and cash equivalents at the end of |
the year | 3,895,563 | 815,202 |
| The notes on pages 18to 37form part ofthese financial statements |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2022 | 2022 | 2022 | 2021 | ||
| E | f. | E | |||
| Donations | 1,554 | ||||
| CJRS Furlough | grants | 51,642 | |||
| 53,196 | |||||
| Total 2021 | 51,642 | 1,554 | 53,196 |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| School fees receivable | 2,282,457 | 2,282,457 | 2,440,128 |
| Extra School services | 104,077 | 104,077 | 140,186 |
| Total 2022 | 2,386,534 | 2,386,534 | 2,580,314 |
| Total 2021 | 2,580,314 | 2,580,314 |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 E |
2022f | 2021 | |
| Letting income | 9,057 | 9,057 | 50,504 |
| Sundry sales | 6,559 | 6,559 | 5,919 |
| Music Society | 5,568 | 5,568 | 39,374 |
| 21,184 | 21,184 | 95,797 | |
| Total 2021 | 95,797 | 95,797 |
| 7. | Investment | income | income | |||
|---|---|---|---|---|---|---|
| Unrestricted | Total | Total | ||||
| funds | funds | funds | ||||
| 2022 | 2022 | 2021 | ||||
| E | F | |||||
| Bank interest | receivable | 1,244 | 1,244 | 39 | ||
| 8. | Other incoming | resources | ||||
| Unrestricted | Total | Total | ||||
| funds | funds | funds | ||||
| 2022f | 2022 E |
2021 | ||||
| Profit on disposal | of fixed assets | 784,134 |
| Unrestricted | Restricted | |||
|---|---|---|---|---|
| funds | funds | Total | Total | |
| 2022 | 2022 | 2022 | 2021 | |
| F | F | |||
| Education | 3,491,620 | 7,596 | 3,499,216 | 3,364,471 |
| Total 2021 | 3,339,004 | 25,467 | 3,364,471 |
| Unrestricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | |||||
| 2022 | 2022 | 2021 | |||||
| F | |||||||
| Loss | on | disposal | offixed | assets | 1,280,485 | 1,280,485 |
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total | Total | |
| directly | costs | funds | funds | |
| 2022 | 2022 | 2022 | 2021 | |
| E | ||||
| Education | 2,473,509 | 1,025,707 | 3,499,216 | 3,364,472 |
| Total 2021 | 2,401,359 | 963,113 | 3,364,472 |
| Analysis of | direct cos | ts (continued | ) | |||
|---|---|---|---|---|---|---|
| Total | Total | |||||
| funds | funds | |||||
| 2022 | 2021 | |||||
| Staff costs | 1,527,169 | 1,407,241 | ||||
| Depreciation | 61,513 | |||||
| Other costs | 926,389 | 894,420 | ||||
| Awards and |
bursaries | 7,596 | 25,467 | |||
| Governance | costs | 12,355 | 12,718 | |||
| 2,473,509 | 2,401,359 | |||||
| Analysis of | support costs | |||||
| Total | Total | |||||
| funds | funds | |||||
| 2022 | 2021 | |||||
| E | ||||||
| Staff costs | 624,190 | 639,767 | ||||
| Depreciation | 4,900 | |||||
| Other costs | 383,105 | 305,201 | ||||
| Governance | costs | 18,412 | 13,245 | |||
| 1,025,707 | 963,113 | |||||
| 12. | Auditors' remuneration |
|||||
| 2022 | 2021 | |||||
| F | ||||||
| Fees payable to the School's auditor | for the audit ofthe School's annual | |||||
| accounts | 11,600 | 10,400 | ||||
| Fees payable to the School's auditor | in respect of: | |||||
| additional costs in respect ofthe prior year audit |
1,000 | |||||
| All assurance | services | not included | above | 7?0 | 700 |
| Staff costs | ||||
|---|---|---|---|---|
| Group | Group | School | School | |
| 2022 | 2021 | 2022 | 2021 | |
| f. | ||||
| Wages and salaries | 1,757,479 | 1,557,772 | 1,757,479 | 1,557,772 |
| Social security costs | 159,146 | 144,903 | 159,146 | 144,903 |
| Pension costs | 247,089 | 357,052 | 247,089 | 357,052 |
| 2,163,714 | 2,059,727 | 2,163,714 | 2,059,727 |
| Group | Group | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| No. | No. | ||||
| Teaching | - | full | time | 21 | 21 |
| Teaching | - | part | time | 13 | 14 |
| Welfare | 6 | 7 | |||
| Premises | 7 | 8 | |||
| Support | 12 | 10 | |||
| 59 |
| Group | Group |
|---|---|
| 2022 | 2021 |
| No. | No. |
| Freehold | Motor | Fixtures and | Office | ||
|---|---|---|---|---|---|
| property | vehicles | fittings | equipment | Total | |
| E | F. | F | F | F | |
| Cost or valuation | |||||
| At 1 September 2021 | 6,908,195 | 6,620 | 1,800,766 | 348,162 | 9,063,743 |
| Additions | 22,012 | 22,012 | |||
| Disposals | (6,908„195) | (1,787,691) | (8,695,886) | ||
| At 31 August 2022 | 6,620 | 13,075 | 370,174 | 389,869 | |
| Depreciation | |||||
| At 1 September 2021 | 2,208,195 | 6,620 | 1,080,795 | 348,162 | 3,643,772 |
| On disposals | (2,208,195) | (1,068,000) | (3,276,195) | ||
| At 31 August 2022 | 6,620 | 12,795 | 348,162 | 367,577 | |
| Net book value | |||||
| At 31 August 2022 | 280 | 22,012 | 22,292 | ||
| At 31August 2021 | 4,700,000 | 719,971 | 5,419,971 |
| Investments | |||||
|---|---|---|---|---|---|
| in | |||||
| subsidiary | |||||
| School | companiesf | ||||
| Cost or valuation | |||||
| At 1 September 2021 | 100 | ||||
| At 31 August | 2022 | 100 | |||
| Net book value | |||||
| At 31 August | 2022 | 100 | |||
| At 31August | 2025 | 100 | |||
| Stocks | |||||
| Group | Group | School | School | ||
| 2022f | 2021f | 2022 | 2021 | ||
| Consumabies, | books and provisions | 513 | 513 | 513 | 513 |
| Debtors | |||||
| Group | Group | School | School | ||
| 2022f | 2021 | 2022f | 2021 | ||
| Due within one year | |||||
| Fees | 57,539 | 86,191 | 57,539 | 86,191 | |
| Other debtors | 53,303 | 40,745 | 53,303 | 40,744 | |
| Prepayments | and accrued income | 3,400 | 7,442 | 3,400 | 7,442 |
| 114,242 | 134,378 | 114,242 | 134,377 |
| Group | Group | School | School | |||
|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |||
| E | ||||||
| Fees received | in advance | 355,332 | 315,698 | 355,332 | 315,698 | |
| Trade creditors | 65,698 | 101,477 | 65,698 | 101,477 | ||
| Other taxation | and social security | 39,045 | 24,656 | 39,045 | 24,656 | |
| Other creditors | 44,673 | 37,465 | 44,672 | 37,465 | ||
| Accruals and deferred | income | 42,105 | 16,221 | 42,105 | 16,220 | |
| 546,853 | 495,517 | 546,852 | 495,516 |
| Group | Group | School | School | ||
|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||
| E | E | E | E | ||
| Pupil | deposits | 165,328 | 146,329 | 165,328 | 146,329 |
| Balance at 1 | Balance at | |||||
|---|---|---|---|---|---|---|
| September | 31August | |||||
| 2021 | Income f |
Expenditure | f | 2022f | ||
| Unrestricted funds |
||||||
| General | Funds | 5,616,152 | 2,408,962 | (4,809,155) | 3„215,959 | |
| Restricted funds | ||||||
| Foundation Fund |
27,739 | (7,596) | 20,143 | |||
| Pavilion | Fund | 62„715 | 62,715 | |||
| Year 8 leaving fund |
1,128 | 1,128 | ||||
| Hardship | Fund | 20,484 | 20,484 | |||
| 112,066 | (?,596) | 104,470 | ||||
| Total of | funds | 5,728,218 | 2,408,962 | (4,816,751) | 3,320,429 |
| Statement of | Statement of | funds (continued) | |||||
|---|---|---|---|---|---|---|---|
| Statement of | funds - prior year | ||||||
| Balance at | Balance at | ||||||
| 1 September | Transfers | Gains/ | 31August | ||||
| 2020 | income | Expenditure | in/out | (Losses) | 2021 | ||
| E | E | ||||||
| Unrestricted | |||||||
| funds | |||||||
| General | Funds | 6,981,159 | 3,511,926 | (3,364,687) | (1,512,246) | 5,616,152 | |
| Restricted | |||||||
| funds | |||||||
| Foundation | |||||||
| Fund | 56,530 | (24,717) | (4,074) | 27,739 | |||
| Pavilion | Fund | 57,515 | 5,200 | 62,715 | |||
| Year 8 leaving | |||||||
| fund | 2,075 | (947) | 1,128 | ||||
| ESCC grant | 179 | (179) | |||||
| Hardship | Fund | 19,680 | 1,554 | (750) | 20,484 | ||
| 135,979 | 1,554 | (25,467) | 112,066 | ||||
| Total of | funds | 7,117,138 | 3,513,480 | (3,390,154) | (1,512,246) | 5,728,218 |
| Analysis | ofnet assets between funds - current year | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| E | F | |||
| Tangible | fixed assets | 22,291 | 22,291 | |
| Current | assets | 3,905,848 | 104,470 | 4,010,318 |
| Creditors | due within one year | (546,853) | (546,853) | |
| Creditors | due in more than one year | (165,328) | (165,328) | |
| Total | 3,215,958 | 104,470 | 3,320,428 | |
| Analysis | ofnet assets between funds - prior year | |||
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| E | ||||
| Tangible | fixed assets | 5,419,971 | 5,419,971 | |
| Current | assets | 838,027 | 112,066 | 950,093 |
| Creditors | due within one year | (495,517) | (495,517) | |
| Creditors | due in more than one year | (146,329) | (146,329) | |
| Total | 5,616,152 | 112,066 | 5,728,218 |
| Group | Group | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||||||
| K | E | ||||||||||
| Net income/expenditure Activities) |
for the | year | (as | per | Statement | of Financial | (2,407,788) | 123,326 | |||
| Adjustments | for: | ||||||||||
| Depreciation | charges | 66,413 | |||||||||
| Profit on disposal of | fixed assets | (796,512) | |||||||||
| Dividends, interests and Loss on the sale offixed |
rents from assets |
investments | (1,244) 1,169,690 |
(39) | |||||||
| Decrease in |
debtors | 20,136 | 36,988 | ||||||||
| Increase/(decrease) | in creditors | 51,336 | (107,209) | ||||||||
| Decrease/(increase) | in long term creditors | 18,999 | (8,601) | ||||||||
| Net cash used in operating activities |
(1,148,&71) | (685,634) | |||||||||
| 24. | Analysis of | cash and cash equivalents | |||||||||
| Group | Group | ||||||||||
| 2022 | 2021 | ||||||||||
| E | E | ||||||||||
| Cash in hand |
3,895,563 | 815,202 | |||||||||
| Total cash and cash | equivalents | 3,895,563 | 815,202 | ||||||||
| 25. | Analysis of | changes | in | net debt | |||||||
| At 1 | At 31 | ||||||||||
| September | August | ||||||||||
| Cash at bank | and in hand |
2021 E 815,202 |
Cash flowsf 3,080,361 |
2022 f. 3,895,563 |
|||||||
| 815,202 | 3,080,361 | 3,895,563 |