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|||||PAGE|
|---|---|---|---|---|
|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|
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||||||||
|---|---|---|---|---|---|---|
|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|||
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|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|
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||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|
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|||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|
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|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|
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||||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|
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|10|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|
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|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|
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|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|
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|13|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|
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|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|
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|||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|
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|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|
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