2020-08-31-accounts - Farney Educational Trust

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Trustees		SBurt
		JE Bowry
		SDeane
		M Gibrill
		CJohns
		N M S G Bartholomew	(Appointed	19August 2020)
		BC Robinson	(Appointed	5October 2020)
		ST Lashley	(Appointed	14 February 2021)
Charity number		307024
Company	number	00543113
Registered	office and	Bolney Court
Principal address		Crossways
		Bolney
		Haywards Heath
		West Sussex
		RH17 5RD
Auditor		TC Group
		The Courtyard
		Shoreham Road
		Upper Beeding
		Steyning
		West Sussex
		BN44 3TN
Accountant		Moore (South) LLP
		9st Johns Place
		Newport
		Isle ofWight
		PO30 1LH
Bankers		NatWest Bank Pic
		1 Muster Green
		Haywards Heath
		West Sussex
		RH16 4AP

			Page
Trustees'	report		1-7
Independent auditor's		report	8-10
Statement	offinancial	activities
Balance sheet			12
Statement	ofcash flows		13
Notes to	the financial	statements	14-27

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2020	2020		2019	2019	2019
	Notes		f		R	K
Income and endowments	from:
Donatjons and legacies		5,819	33,984	39,803		23,164	23,164
Charitable activities		3,237,363	13,238	3,250,601	3,275,209	11,812	3,287,021
Investments		29,688		29,688	31,759		31,759
Other income		371		371	300		300
Total income		3,273,241	47,222	3,320,463	3,307,268	34,976	3,342,244
Ex enditure on:
Raising funds		2,746		2,746	9,343		9,343
Charitable activities	8	3,481,488	49,592	3,531,080	3,188,868	23,353	3,2'i 2,221
Total resources
expended		3,484,234	49,592	3,533,826	3,198,211	23,353	3,221,564
Net(outgoing)/incoming
resources before
transfers		(210,993)	(2,370)	(213,363)	109,057	11,623	120,680
Gross transfers between
funds	18	11,429	(11,429)		17,270	(17,270)
Net {expenditure)/income	for
the year/
Net movement in funds		(199,564)	(13,799)	(213,363)	126,327	(5,647)	120,680
Fund balances at 1
September 2019		4,909,769	39,281	4,949,050	4,783,442	44,928	4,828,370
Fund balances at 31
August 2020		4,710,205	25,482	4,735,687	4,909,769	39,281	4,949,050

				2020		2019
			Notes
Fixed assets
Tangible assets			12		1,836,636		1,851,248
Investment	properties		13		657,282		657,282
					2,493,918		2,508,530
Current assets
Debtors				1,070,623		905,868
Cash at bank and in		hand		2,518,506		3,021,667
				3,589,129		3,927,535
Creditors:	amounts	falling due within
one year			15	(1,149,769)		(1,282,067)
Net current	assets				2,439,360		2,645,468
Total assets less current liabilities					4,933,278		5,153,9S8
Creditors:	amounts	falling due after
more than	one year				(197,591)		(204,948)
Net assets					4,735,687		4,949,050
Income funds
Restricted	funds		18		25,482		39,281
Unrestricted	funds				4,710,205		4,909,769
					4,735,687		4,949,050

			2020		2019
		Notes
Cash flows from operating	activities
Cash absorbed by operations				(481,959)		(178,951)
Investing activities
Purchase oftangible fixed assets			(51,050)		(52,866)
Proceeds on disposal oftangible fixed
assets			160		300
Interest received			11,337		17,624
Rent received			18,351		14,135
Net cash used In investing	activities			(21,202)		(20,807)
Financing activities
Net cash used in financing	activities
Net decrease in cash and	cash equivalents			(503,161)		(199,?58)
Cash and cash equivalents	at beginning	ofyear		3,021,667		3,221,425
Cash and cash equivalents	at end of	year		2,518,506		3,021,667

			Unrestricted	Restricted	Total	Restricted
			funds	funds		funds
			2020	2020	2020	2019
Donations	and gifts			33,984	33,984	23,164
Grants			5,819		5,819
			5,819	33,984	39,803	23,164
Charitable	activities
					2020	2019
					f.
School fees within charitable		activities			3,237,363	3,275,209
Pupil Premium					13,238	11,812
					3,250,601	3,287,021
Analysis by fund
Unrestricted	funds				3,237,363
Restricted	funds				13,238
					3,250,601
Forthe year ended 31August 2019
Unrestricted Restricted	funds funds					3,275,209 11,812
						3,287,021

5	Investments
				Unrestricted	Unrestricted
				funds	funds
				2020f	2019
	Rental income			18,351	14,135
	Interest receivable			11,337	17,624
				29,688	31,759
6	Other income
				Unrestricted	Unrestricted
				funds	funds
				2020	2019
	Net gain on	disposal oftangible fixed assets		160	300
	Miscellaneous		income	211
				371	300
7	Raising funds
				2020	2019
	Investment	property costs		2,746	9,343
				2,746	9,343

			2020	2019
			K
Establishment			528,556	480,010
School expenses			2,577,707	2,355,166
			3,106,263	2,835,176
Share ofsupport costs {seenote 9)			406,487	350,449
Share ofgovernance		costs (see note 9)	18,330	26,596
			3,531,080	3,212,221
Analysis by	fund
Unrestricted	funds		3,481,488
Restricted funds			49,592
			3,531,080
Forthe year	ended	31August 2019
Unrestricted	funds			3,188,868
Restricted funds				23,353
				3,212,221

Support cos	ts
		Support	Governance	2020	2019
		costs	costs
Depreciation		65,662		65,662	58,572
Salaries		179,983		179,983	173,151
Staff training		343	2,130	2,473	4,247
Sundry		3,755		3,755	8,901
Telephone
		16,837		16,837	16,363
Office costs		8,357		8,357	9,793
Motor expenses		22,550		22,550	24,935
Computer expenses		34,902		34,902	35,120
Payroll		3,391		3,391	3,160
Professional	fees	69,776		69,776	23,304
Bank charges		931		931	899
Audit fees			12,000	12,000	13,200
Accountancy			4,200	4,200	5,400
		406,487	18,330	424,817	377,045

The ave	rage	monthly number ofem	ployees during the year was:
				2020	2019
				Number	Number
School				72	67
Establishment				9	7
Administration				4	4
				85	78
Employment		costs		2020	2019
				K
Wages	and salaries			2,101,750	1,946,270
Social security		costs		188,825	186,629
Other pension		costs		187,008	119,019
Benefits	in kind - healthcare			37,195	39,043
Change	in present value for pension		obligation	4,945	(103,828)
				2,519,723	2,187,133

The num were;	ber of employees whose annual remunerati	on was f60,000 or more
		2020	2019
		Number	Number
860,000	- F69,999	2	1

12	Tangible fixed assets	Tangible fixed assets
				Freehold land	Plant and	Fixtures and Motor	vehicles	Total
				and buildings	eguipm ant	fittings
	Cost
	At 1 September 2019			3,931,723	276,218	330,357	49,179	4,587,477
	Additions				7,416	43,634		51,050
	Disposals				(5,352)	(2,000)		(7,352)
	At 31 August	2020		3,931,723	278,282	371,991	49,179	4,631,175
	Depreciation	and impairment
	At 1 September 2019			2,137,089	261,836	292,048	45,256	2,736,229
	Depreciation	charged	in the year	39,798	7,318	16,584	1,962	65,662
	Eliminated in	respect ofdisposals			(5,352)	(2,000)	-	(7,352)
	At 31 August	2020		2,176,887	263,802	306,632	47,218	2,794,539
	Carrying amount
	At 31 August	2020		1,754,836	14,480	65,359	1,961	1,836,636
	At 31 August	2019		1,794,634	14,382	38,309	3,923	1,851,248
13	Investment	property

2020	2019
657,282	657,282

14	Debtors
				2020	2019
	Amounts	falling due within one year:			K
	School fees receiveable			1,027,198	855,343
	Prepayments and accrued income			43,425	50,525
				1,070,623	905,868
15	Creditors:	amounts falling due within one year
				2020	2019
	Other taxation and social		security	18,429	63,828
	Payments	received on account for future terms (see note 17)		1,027,196	1,093,554
	Education/Care supplies		payable	62,257	97,591
	Other creditors (see note		23)	12,952	11,351
	Accruals			28,935	15,743
				1,149,769	1,282,067
16	Creditors:	amounts falling due after more than one year
				2020	2019
	Future liabilities in respect offormer staff obligations (see note
	23)			197,591	204,948

the start ofthe next academic year from 1 Se	ptember, and re	present incom
	2020	2019
Fees in advance at 1/09/2019	1,093,554	997,165
Recognised as income in 2019-20year	(1,093,554)	(997,165)
Fees invoiced prior to 31 August 2020,
and carried forward to 2020-21	1 027 196	1 093554
Fees in advance at 31 August 2020	1 027 196	1 093554

				INovement in funds	INovement in funds
			Balance at	Incoming	Resources	Transfers	Balance at
			1 September	resources	expended		31 August
			2019				2020
Pupil Premium			19,503	13,238	(12,905)		19,836
Vocational	building	&equipment	6,574	5,499	(7,106)		4,967
IT			5,319	15,268	(16,692)	(3,895)
Education	and childcare		1,684	8,111	(4,082)	(5,142)	571
Equipment	donations		2,156	2,606	(4,762)
Fair Fax			4,045	2,500	(4,045)	(2,392)	108
			39,281	47,222	(49,592)	(11,429)	25,482

				Movement	Movement	in funds
			Balance at	Incoming	Resources		Transfers	Balance at
			1 September	resources	expended			31August
			2018					2019
			f.
Pupil Premium			17,147	11,812		(9,456)		19,503
Vocational	building	&equipment	11,404	13,042		(602)	(17,270)	6,574
IT			7,150			(1,831)		5,319
Education	and childcare		835	6,122		(5,273)		1,684
Equipment	donations		3,724			(1,568)		2,156
Fair Fax			4,668	4,000		(4,623)		4,045
			44,928	34,976	(23,353)		(17,270)	39,281

Analysis ofnet assets between	funds
			Unrestrictedf	Restricted	Totalf
Fund balances at 31 August 2020	were represented	by:
Tangible assets			1,826,317	10,319	1,836,636
Investment properties			657,282		657,282
Current assets/(liabilities)			2,428,703	15,163	2,439,360
Long term liabilities			{197,591)		(197,591)
			4,714,711	25,482	4,735,687
Analysis ofnet assets between	funds comparative
			Unrestricted	Restrictedf	Total
Fund balances at 31 August 2019were represented		by:
Tangible assets			1,851,248		1,851,248
Investment properties			657,282		657,282
Current assets/(liabilities)			2,606,187	39,281	2,645,468
Long term liabilities			{204,948)		(204,948)
			4,909,769	39,281	4,949,050

	2020	2019
Within one year	5,984	6,581
Between two and five years	11,956	19,594
	17,940	26,175