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||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|16|
|Consolidated
statement
ofcash flows|17|
|Notes to the financial statements|18-36|
##
|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|
|---|---|---|---|---|---|---|---|
||||FOR THE|YEAR ENDED 31 AUGUST 2023||||
|Trustees|||DJ Lewis, Chair|(appointed|||17May 2022)|
||||M J L Commander||(resigned||15March 2023)|
||||K Couldrey
(appointed|||5 September 2023)||
||||J Giles|||||
||||VJ Harding
(appointed|||17May 2022)||
||||M Mahaffey
(appointed|||10October 2022)||
||||D M Thomas (resigned|||7 July 2023)||
||||J Taylor (appointed||30January 2024)|||
||||SVakil (appointed||14|March|2023, resigned 30June 2023)|
||||J D Wilton (appointed|||1 June 2022)||
||||L Wu (appointed|17May 2022)||||
|Company|registered|||||||
|number|||00893985|||||
|Charity registered||||||||
|number|||307014|||||
|Registered||office|Vinehall
Road|||||
||||Robertsbridge|||||
||||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|Plc|
||||Havelock Road|||||
||||Hastings|||||
||||East Sussex|||||
||||TN34 1GW|||||
|Solicitors|||Veale Wasborough||Vizards||LLP|
||||PO Box3501|||||
||||Bristol|||||
||||BS22FL|||||
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2023|2023|2023|2022|
|||Note|||f.||
|Income from:|||||||
|Charitable
activities||4|2,910,131|2,368|2,912,499|2,386,534|
|Other trading
activities||5|91,322||91,322|2i,184|
|Investments||6|22,572||22,572|1,244|
|Total income|||3,024,025|2,368|3,026,393|2,408,962|
|Expenditure
on:|||||||
|Raising funds|||50,747||50,747|37,049|
|Charitable
activities||7|4,118,761|500|4,119,261|3,499,216|
|Other expenditure||8|23||23|1,280,485|
|Total expenditure|||4,169,551|500|4,170,051|4,816,750|
|Net movement
in funds|||(1,145,526)|1,868|(1,143,658)|(2,407,788)|
|Reconciliation
offunds:|||||||
|Total funds brought|forward||3,215,960|104,470|3,320,430|5,728,218|
|Net movement
in funds|||(1,145,526)|1,866|(1,143,658)|(2,407,788)|
|Total funds carried forward|||2,070,434|106,338|2,176,772|3,320,430|
##
||||CONSOLIDATED|BALANCE SHEET|||
|---|---|---|---|---|---|---|
||||AS AT 31 AUGUST 2023||||
|||||2023||2022|
||||Note||||
|Fixed assets|||||||
|Tangible assets|||13|145,507||22,292|
|Current assets|||||||
|Stocks|||15|513|513||
|Debtors|||16|211,632|114,242||
|Cash at bank and in hand||||2,677,845|3,895,563||
|||||2,889,990|4,010,318||
|Creditors: amounts|falling|due within|one||||
|year|||17|(675,131)|(546,852)||
|Net current assets||||2,214,859||3,463,466|
|Total assets less current||liabilities||2„360,366||3,485,758|
|Creditors: amounts|falling|due after|more||||
|than one year|||18|(183,594)||(165,328)|
|Total net assets||||2,176,772||3,320,430|
|Charity funds|||||||
|Restricted funds|||19|106,338||104,470|
|Unrestricted
funds|||19|2,070,434||3,215,960|
|Total funds||||2,176,772||3,320,430|
##
||||SCHOOL BALANCE SHEET|SCHOOL BALANCE SHEET||||
|---|---|---|---|---|---|---|---|
||||AS AT 31|AUGUST 2023||||
||||||2023||2022|
||||Note|||||
|Fixed assets||||||||
|Tangible assets|||13||145,506||22,292|
|Investments|||14||100||100|
||||||145,606||22,392|
|Current assets||||||||
|Stocks|||15|513||513||
|Debtors|||16|211,632||114,242||
|Cash at bank and in hand||||2,677,745||3,895,463||
|||||2,889,890||4,010,218||
|Creditors: amounts|falling|due within one||||||
|year|||17|(675,130)||(546,852)||
|Net current assets|||||2,214,760||3,463,366|
|Total assets less current||liabilities|||2,360,366||3,485,758|
|Creditors: amounts|falling|due after more||||||
|than one year|||18||(183„594)||(165,328)|
|Total net assets|||||2,176,772||3,320,430|
|Charity funds||||||||
|Restricted
funds|||19||106,338||104,470|
|Unrestricted
funds|||19||2,070,434||3,215,960|
|Total funds|||||2,176,772||3,320,430|
##
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##
|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|Cash flows from operating|||activities|||||
|Net cash|used
in operating|activities||||(1,112,672)|(1,148,871)|
|Cash flows from investing|||activities|||||
|Dividends,
interests
and rents from investments||||||22,572|1,244|
|Proceeds|from the sale oftangible
fixed|||assets|||4,250,000|
|Purchase|oftangible
fixed assets|||||(127,618)|(22,012)|
|Net cash|(used in)/provided||by investing||activities|(105,046)|4,229,232|
|Change|in cash and cash||equivalents|in|the year|(1,217,718)|3,080,361|
|Cash and|cash equivalents||at the beginning||ofthe year|3,895,563|815,202|
|Cash and cash equivalents|||at the end|of|the year|2,677,845|3,895,563|
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|Assets under construction|- Not depreciated|- Not depreciated|until ready for use|
|---|---|---|---|
|Motor vehicles|- Straight|line over|5years|
|Fixtures and fittings|- Straight|line over|15years|
|Office equipment|- Straight|line over|5years|
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||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2023|2023|2022|
|Letting income|51,421|51,421|9,057|
|Sundry sales|8,866|8,866|6,559|
|Music Society|31,035|31,035|5,568|
||91,322|91,322|21,184|
|Total 2022|21,184|21,184||
||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2023|2023|2022|
|||||f.||
|Bank|interest|receivable|22,572|22,572|1,244|
||Unrestricted|Restricted|||
|---|---|---|---|---|
||funds|funds|Total|Total|
||2023|2023|2023|2022|
||||f.||
|Education|4,118,781|500|4,119,281|3,499,216|
|Total 2022|3,491,620|7,596|3,499,2'/6||
##
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|Unrestricted|Total|Total|
|---|---|---|
|funds
2023
f.|funds
2023f|funds
2022|
|23|23|1,280,485|
##
||Activities
undertaken
directly
2023|Support
costs
2023|Total
funds
2023f|Total
funds
2022|
|---|---|---|---|---|
|Education|2,686,839|1,432,442|4,119,281|3,499,216|
|Total 2022|2,473,509|1,025, 707|3,499,216||
|Analysis ofdirect costs|||||
|nalysis|of|direct costs|||
|---|---|---|---|---|
||||Total|Total|
||||funds|funds|
||||2023|2022|
||||1,695,968|1,527, 169|
|Staff costs|||977,650|926,389|
|Other costs|||500|7,596|
|Awards|and|bursaries|12,721|12,355|
|Governance||costs|||
||||2,686,839|2,473,509|
##
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|||Total|Total|
|---|---|---|---|
|||funds|funds|
|||2023|2022|
|Staff costs||724,819|624,190|
|Depreciation||4,402||
|Other costs||676,409|383,105|
|Governance|costs|26,812|18,412|
|||1,432,442|1,025,707|
##
||||2023f|2022|
|---|---|---|---|---|
|Fees payable|to the School's auditor|for the audit ofthe School's annual|||
|accounts|||15,500|11,600|
|Fees payable|to the School's auditor|in respect of:|||
|All assurance|services not included|above|924|770|
##
||Group|Group|School|School|
|---|---|---|---|---|
||2023|2022|2023|2022|
||||F|E|
|Wages and salaries|1,985,816|1,757,479|1,985,816|1,757,479|
|Social security costs|165,035|159,146|165,035|159,146|
|Pension costs|282,657|247,089|282,657|247,089|
||2,433,508|2,163,714|2,433,508|2,163,714|
##
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|||||Group|Group|
|---|---|---|---|---|---|
|||||2023|2022|
|||||No.|No.|
|Teaching|-|full|time|19|21|
|Teaching|-|part|time|27|13|
|Welfare||||8|6|
|Premises||||13|7|
|Support||||14|12|
|||||81|59|
|Group|Group|
|---|---|
|2023|2022|
|No.|No.|
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||Assets|||||
|---|---|---|---|---|---|
||under|Motor|Fixtures and|Office||
||construction|vehicles|fittings
f|equipment
f|Totalf|
|Cost or valuation||||||
|At 1 September 2022||6,620|13,075|370,174|389,869|
|Additions|72,691||54,926||127,617|
|At 31 August 2023|72,691|6,620|68,001|370,174|517,486|
|Depreciation||||||
|At 1 September 2022||6,620|12,795|348,162|367,577|
|Charge for the year||||4,402|4,402|
|At 31 August 2023||6,620|12,795|352,564|371,979|
|Net book value||||||
|At 31 August 2023|72,691||55,206|17,610|145„507|
|At 31August 2022|||280|22,012|22,292|
##
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||Investments|
|---|---|
||in|
||subsidiary|
|School|companiesf|
|Cost or valuation||
|At 1 September 2022|100|
|At 31 August 2023|100|
|Net book value||
|At 31 August 2023|100|
|At 31August 2022|100|
##
|||||Group|Group|School|School|
|---|---|---|---|---|---|---|---|
|||||2023f|2022|2023f|2022|
|Consumables,|books|and|provisions|513|513|513|513|
##
|||Group|Group|School|School|
|---|---|---|---|---|---|
|||2023|2022f|2023f|2022f|
|Due within one year||||||
|Fees||153,095|57,539|153,095|57,539|
|Other debtors||54,082|53,303|54,082|53,303|
|Prepayments|and accrued income|4,455|3,400|4,455|3,400|
|||211,632|114,242|211,632|114,242|
##
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||||Group|Group|School|School|
|---|---|---|---|---|---|---|
||||2023|2022|2023|2022|
||||F||F||
|Fees received|in advance||248,010|355,332|248,010|355,332|
|Trade creditors|||160,380|65,698|160,380|65,698|
|Other taxation|and social security||38,366|39,045|38,366|39,045|
|Other creditors|||53,390|44,672|53,390|44,672|
|Accruals and deferred||income|174,985|42,105|174,984|42,105|
||||675,131|546,852|675,130|546,852|
##
|||Group|Group|School|School|
|---|---|---|---|---|---|
|||2023|2022f|2023
f.|2022|
|Pupil|deposits|183,594|165,328|183,594|165,328|
##
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|Statement offunds||||||
|---|---|---|---|---|---|
|Statement offunds|-current year|||||
|||Balance at 1|||Balance at|
|||September|||31August|
|||2022|Income|Expenditure|2023|
|Unrestricted
funds||||||
|General
Funds||3„215,960|3,024,025|(4,169,551)|2,070,434|
|Restricted funds||||||
|Foundation
Fund||20,143|2,368|(500)|22,011|
|Pavilion
Fund||62,715|||62,715|
|Year 8 leaving
fund||1,128|||1,128|
|Hardship
Fund||20,484|||20,484|
|||104,470|2,368|(500)|106,338|
|Total offunds||3,320,430|3,026,393|(4,170,051)|2,176„772|
##
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##
|Statement|Statement|of|funds|(continued)|||||
|---|---|---|---|---|---|---|---|---|
|Statement||of|funds|-prior year|||||
||||||Balance at|||Balance at|
||||||1 September|||31August|
||||||2021|Income|Expenditure|2022|
||||||||E||
|Unrestricted|||funds||||||
|General|Funds||||5,616,152|2,408,963|(4,809,155)|3,215,960|
|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||(7,596)|104,470|
|Total of|funds||||5,728,218|2,408,963|(4,816,751)|3,320,430|
##
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|Analysis|of net assets between funds
-current year||||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2023|2023|2023|
||||f.||
|Tangible|fixed assets|82,792|62,715|145,507|
|Current|assets|2,846,367|43,623|2,889,990|
|Creditors|due within one year|(675,131)||(675,131)|
|Creditors|due in more than one year|(183,594)||(183,594)|
|Total||2,070,434|106,338|2,176,772|
|Analysis|ofnet assets between funds -prior year||||
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2022|2022|2022|
|Tangible|fixed assets|22,292||22,292|
|Current|assets|3,905,848|104,470|4,010,318|
|Creditors|due within one year|(546,852)||(546,852)|
|Creditors|due in more than one year|(165,328)||(165,328)|
|Total||3,215,960|104,470|3,320,430|
##
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##
|||||Group|Group|
|---|---|---|---|---|---|
|||||2023|2022|
||Net expenditure
for|the year (as per Statement of Financial|Activities)|(1„143,658)|(2,407, 788)|
||Adjustments
for:|||||
||Depreciation
charges|||4,402||
||Dividends,
interests|and rents from investments||(22,572)|(1,244)|
||Loss on the sale of|fixed assets|||1,169,690|
||Decrease/(increase)|in debtors||(97,390)|20,136|
||Increase
in creditors|||128,280|51,336|
||Decrease/(increase)|in long term creditors||18,266|18,999|
||Net cash used in operating
activities|||(1,112,672)|(1,148,871)|
|22.|Analysis ofcash and cash equivalents|||||
|||||Group|Group|
|||||2023|2022|
|||||f.||
||Cash in hand|||2,677,845|3,895,563|
||Total cash and cash equivalents|||2,677,845|3,895,563|
|23.|Analysis ofchanges
in net debt|||||
|||||||At 1|||
|---|---|---|---|---|---|---|---|---|
|||||||September||At 31|
|||||||2022|Cash flows|August 2023|
|||||||||E|
|Cash|at|bank|and|in|hand|3,895,563|(1,217,718)|2,677,845|
|||||||3,895,563|(1,217,718)|2,677,845|
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|under non|-can|cellable
operating
leases as follo|ws:||||
|---|---|---|---|---|---|---|
||||Group|Group|School|School|
||||2023|2022|2023|2022|
|Not later than||1 year|93,001|108,053|93,001|108,053|
|Later than|1 year and not later than 5 years||355,921|360,922|355,921|360,922|
|Later than|5years||1,615,101|1,703,101|1,615,101|1,703,101|
||||2,064,023|2,172,076|2,064,023|2,172,076|
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|Principal su|Principal su|bsidiaries|bsidiaries||||||
|---|---|---|---|---|---|---|---|---|
|The following||was a subsidiary||undertaking|ofthe School:||||
|Name||||Company||Registered
office or principal|Class of|Holding|
|||||number||place ofbusiness|shares||
|Vinehall|Education||Centre|06629667||Vinehall
Road, Robertsbridge,|Ordinary|100%|
|Limited||||||East Sussex, TN32 5JL|||
|The financial||results|ofthe subsidiary
for the|||year were:|||
|Name||||||||Net assetsf|
|Vinehall|Education||Centre Limited|||||100|