2023-08-31-accounts - The Frewen Educational Trust Limited

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Legal and	Administrative		Information
Governors'	Report			2-7
Statement	of Governors'		Responsibihties
Report of	the Independent		Auditors	9-13
Statement	of Fmancial	Activities		14
Balance Sheet				15
Cash Flow	Statement			16
Notes to the Financial		Statements		17 - 30


Governors				J Stevenson		(Chairman)
				F Flint
				H Miller
				V Mills
				A Moore-Bick
				G Nash
				J Pennock
				G Peters
				J Watts
Senior Leadership		Team	Principal	N Goodman
			Deputy Head	K Skinner
			Bursar gr Secretary	Y Hopkins
			Head of Boarding	H Lewis
			Head of 6th Form	H McCalvey
			Head of Prep	SWelch
Company	number			00924280
Charity number				307019
Registered	office	and principal		Frewen College
address				Brickwall Rye Road
				Northiam
				Rye
				East Sussex
				TN316NL
Auditors				TC Group
				The Courtyard
				Shoreham	Road
				Upper Beeding
				Steyning
				West Sussex
				8N44 3TN
Bankers				HSBC Bank	pic
				4 Robertson		Street
				Hastings
				East Sussex
				TN34 1HW

FORTHE YEAR ENDED 3	1	AUGUST 2023
			Notes	Unrestncted	Restricted	Total	Total
				Funds	Fulids	2023	2022
					E		6
INCOME FRONh Donations and legacies Government grants Other trading activities charitable activmes Investment income Totalincome				951 4,176 117,595 4,260,250 25,644 4,408,616	405,510 405,510	406,461 4,176 117,595 il,260,250 25,644 4,814,126	4,435 19,280 38,396 4,122,266 49,991 4,184,377
EXPENDITURE ON: Raising funds Charitable activities Totalexpenditure			10	6,527 4,308,750 4,315,277		6,527 4,308,750 4,315,277	18,745 3,885,859 3,904,604
Net Income/expenditure		and		93,339	405,510	ll98,849	279,773
movement in funds
Transfers between funds			21
Net movement in funds				93,339	405,510	498,849	279,773
Fund balances brought	forward			1,508,858		1,508,858	1,229,085
Fund balances carried forward				1,602,197	405,510	2,007,707	1,508,858

	Notes	2023		2022
FIXEDASSETS
Tangible Assets	13		1,752,110		1,666,275
CURRENT ASSETS
Stock		1,975
Debtors	14	1,230,713		1,152,500
Cash at bank and in hand		1,045,167		842,063
		2,277,855		1,994,563
CURRENT LIABILITIES
Creditors due within one year	15	(2,022,258)		(1,977,136)
NET CURRENT LIABILITIES			255,597		17,426
TOTAL ASSETS LESSCURRENT LIABILITIES			2,007,707		1,683,701
LONG TERM LIABILITIES
Creditors due after one year	16				(174,844)
NET ASSETS			2,007,707		1,508,858
REPRESENTED BY:
RESTRICTED FUNDS	21		405,510
UNRESTRICTED FUNDS
General funds	21		1,602,197		1,508,858
			2,007,707		1,508,858

		Notes	2023		2022
			6	6	6	6
Cash flows from operating activities: Net income/(expenditure) for the year			498,849		279,773
Adjustments for: Depreciation charges Interest received		13	112,279 (25,644)		124,649 (49,991)
(Increasel/decrease m Stock (Increase)/decrease in debtors Increase/(decrease l in creditors Net cash provided by/(used in) operating	activities		(1,975) (78,213) 192,817	698,113	290,371 197,025	841,827
Cash flows from investing activities: Interest received Proceeds from sale oftangible fixed assets Purchase oftangible fixed assets Net cash provided by/(used in) investing activities		13	25,644 (198,114)	(172470)	49,991 500 (152,088)	(101,597)
Cash flows from financing activities: Repayments of borrowing Net «ash provided by/(used in) financing	activities		(322,539)	(322,539)	(291,286)	(291,286)
Change in cash and cash equivalents in the year				203,104		448,944
Cash and cash equivalents at the beginning ofthe year				842,063		393,119
Cash and cash equivalents at the end ofthe year				1,045,167		842,063
Analysis ofcash and cash equivalents Cash at bank and m hand Iotal cash and cash equivalents				1,045,167 1,045,167		842,063 842,063

INCOME	FROM DONATIONS A	ND LEGACIES
		UNRESTRICTED	RE ST RICTED	TOTAL	TOTAL
				2023	2022
		E	E	E	E
Donations		951	405,510	406,461	4,435
INCOME	FROM GOVERNMENT	GRANTS
		UNRESTRICTED	RESTRICTED	TOTAL	TOTAL
				2023	2022
		6		6	E
Other		4,176		4,176	19,280
		4,176		4,176	19,280
INCOME	FROM OTHER TRADING ACTIVITIES
		UNRESTRICTED	RESTRICTED	TOTAL	TOTAL
				2023	2022
		E		E	E
Lettings income		1,020		1,020	680
Fund raising income					210
Other income		70,184		70,184	95
Biomass	RHI income	21,693		21,693	22,326
Weddings		24,698		24,698	15,085
		117,595		117,595	38,396

			TOTAL	TOTAL
			2023	2022
			E	E
Gross school	fees		4,131,909	4,048,948
less bursaries	and allowances		(91,079)	(64,733)
Net school fees			4,040,830	3,984,215
Aclch
Registration	fees		3,779	6,421
Extras income			155,099	81,639
School bus /	Transport	Income	60,542	49,991
			4,260,250	4,122,266

ANALYSIS	OF EXPENDITURE	OF EXPENDITURE
			Staff	Depreciation	Other	Tote I	Total
			Costs		costs	2023	2022
			E			E	E
Cost of raising funds:
Financing	costs				6,527	6,527	18,745
Total cost	of raising funds				6,527	6,527	18,745
Charitable	expenditure
Education
Teaching Welfare			2,184,113 279,705	79,597	337,909 133,867	2,601,619 413,572	2,425,478 377,318
Premises			347,167	32,682	524,328	904,177	657,537
Support and governance			230,087		159,295	389,382	425,526
Total charitable		expenditure	3,041,072	112,279	1,155,399	4,308,750	3,885,859
Total expenditure			3,041,072	112,279	1,161,926	4,315,277	3,904,604

Analysis ofsupport	and governance	and governance	and governance	costs:	costs:	2023	2022
						E	E
Governance costs:
Auditors remuneration		for audit services				14,100	12,960
Governors' expenses						338	254
Total governance costs						14,438	13,214
Support costs:
Auditors' remuneration		for non audit services				8,340	7,973
Legal and professional		fees relating		to support		65,122	111,204
Support staff wages,	national		msurance		and pension	230,087	203,117
Other support costs						71,395	90,018
						389,382	425,526

during the yea	r was:
		2023	2022
		Number	Number
Teaching		48	42
Welfare		13	12
Premises		16	12
Support		6	7
		83	73
The aggregate	payroll costs for the year were as follows:
		2023	2022
		E	E
Wages and salaries		2,475,454	2,332,827
Social security	costs	232,340	214,337
Pension costs		333,278	304,251
		3,041,072	2,851,415

2023	2022
Number	Number

Legal and	Administrati	ve Info	rma	tion.
								2023	2022
Aggregate	employee	benefits	of	key	management	personnel	(*)	545,004	526,895

	Unrestricted	Restricted	Total
	Funds	Funds	2022
	E		E
INCOME FROM:
Donations and legacies	4,435		4,435
Government grants	19,280		19,280
Other trading activities	38,396		38,396
Charitable activities	4,122,266		4,122,266
Totalincome	4,184,377		4,184,377
EXPENDITURE ON:
Raising Funds	18,745		18,745
Charitable activities	3,885,859		3,885,859
Total expenditure	3,904,604		3,904,604
Net income/expenditure	279,773		279,773
Transfers between funds
Net movement in funds	279,773		279,773
Fund balances brought forward	1,229,085		1,229,085
Fund balances carried forward	1,508,858		1,508,858

TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS
		Assets under	Freehold	Fixtures &	Motor	Total
		Construction	Property	Fittings	Vehicles
			6	E
Cost
At 1September	2022	17,597	2,055,979	387,376	60,381	2,521,333
Additions		110,547	3,540	84,027		198,114
Disposals				(31,877)		(31,877)
At 31August 2023		128,144	2,059,519	439,526	60,381	2,687,570
Depreciation
At 1September	2022		607,742	231,209	16,107	855,058
Charge for year			32,682	69,335	10,262	112,279
Ehminated on disposal				(31,877)		(31,877)
At 31August 2023			640,424	268,667	26,369	935,460
Net Book Value
At 31August 2023		128,144	1,419,095	170,859	34,012	1,752,110
At 31August 2022		17,597	1,448,237	156,167	44,274	1,666,275

14	DEBTORS
		2023	2022
		E	E
	Fee debtors	1,164,480	1,076,071
	Prepayments and accrued income	66,233	76,429
		1,230,713	1,152,500
15	CREDITORS: due within one year
		2023	2022
		F.	E
	Bank loans and overdrafts		147,695
	Trade creditors	109,029	28,856
	Other creditors	51,437	38,799
	Accruals	101,327	42,100
	Deferred Income - Weddings	20,750	123,220
	Feesin Advance	1,538,224	1,458,012
	Pupil deposits	147,325	89,083
	Other taxes and social security	54,166	49,371
		2,022,258	1,977,136

16	CREDITORS: due after one year
				2023	2022
				E	6
	Bank loans (see note 17)				174,844
					174,844
17	BANK LOANS
	Bank loans are wholly repayable	in instalments	as follows;
				2023	2022
				E	6
	Less than one year				147,695
	In more than one year but less than two years				148,239
	In more than two years but less	than five years			26,605
					322,539

		At 1Sept	Income	Expenses	Transfers	At 31Aug
		2022				2023
		E			E	E
Unrestricted	funds
General reserves		1,508,858	4,408,616	(4,315,277)		1,602,197
Restricted funds
Performance	Arts Space		405,510			405,510
			405,510			405,510
Totalfunds		1,508,858	4,814,126	(4,315,277)		2,007,707

ANALYSIS OF NET ASSETS BETWEEN FUNDS
	Unrestricted	Restricted	Total
	Funds	Funds	Funds
	2023	2023	2023
For the year ended 31August 2023	E		E
Tangible fixed assets	1,752,110		1,752,110
Current assets	1,872,345	405,510	2,277,855
Creditors: less than one year	(2,022,25&)		(2,022,258)
Creditors: over one year
	1,602,197	405,510	2,007,707
	Unrestricted	Unrestricted	Unrestricted
	Funds	Funds	Funds
	2022	2022	2022
For the year ended 31August 2022			6
Tangible fixed assets	1,666,275		1,666,275
Current assets	1,994,563		1,994,563
Creditors: less than one year	(1,977,136)		(1,977,136)
Creditors: over one year	(174,844)		(174,844)
	1,508,858		1,508,858