2021-08-31-accounts - The Malden Trust Limited

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Trustees and Governing	Douglas Moody-Stuart BA (Hons) (Chairman) David lgng (Deputy Chairman) Martina Asmar '"	Douglas Moody-Stuart BA (Hons) (Chairman) David lgng (Deputy Chairman) Martina Asmar '"	Douglas Moody-Stuart BA (Hons) (Chairman) David lgng (Deputy Chairman) Martina Asmar '"	Douglas Moody-Stuart BA (Hons) (Chairman) David lgng (Deputy Chairman) Martina Asmar '"	1	3
	David Armitage t
	Sarah Wickens"
	Anthony Goddard MA (Cantab) ' (resigned 1st				August 2021)
	Niall Hamilton 2
	Caroline Bonnor-Moris		1
	Sarah Kerr-Dineen 4 (appointed			1stSeptember		2020)
	Charlotte 3ohnston 4 (appointed			24th November		2020)
	' Member of Finance fk ' Member of Marketing		General Purposes Sub-committee Sub-committee
	s Member of Succession		Panel
	4 Member of Education		Sub-committee
Headmaster	Ben Evans BA(Hons).	PGCE.
Company secretary	Emma Harris
School bursar	Emma Harris
Website	www. windlesham. corn
Auditor	Kreston Reeves LLP
	Springfield House
	Springfield Road
	Horsham
	West Sussex RH12 2RG
Registered office	Windlesham House School
	Washington
	West Sussex
	RH20 4AY

Bankers			Barclays Bank Pic
			Barclays Corporate	Banking
			90/92 High Street
			Crawley
			RH10 1BP
			Knights Solicitors	LLP
			Midland House, West Way
			Oxford
			OX2 OPH
Insurance	brokers and actuaries		Marsh Brokers Limited
			Capital House
			1-5 Perrymount Road
			Haywards Heath
			RH16 3SY
Registered	company	number	00747222
Registered	charity number		307046

				Unrestrkted	Restricted	Restricted	Total	Tots/
			Notes	funds	funds		2021	2020
				E		E	E	1
INCOME FROM:
Donations and legacies				183,017	11,763		194,780	468,833
Charitable activities:
School fees				5,340,928			5,340,928	6;543459
Other educational	income			18,735			18,735	14,322
Other ancillary activities				209,686			209,686	220003
Other trading activities				38,957			38,957	37,723
Investment income:
Bank interest receivable				665			665	5866
				9 90			08 ~	8' N'
EXPENDITURE ON:
Raising funds:
Development and	fundraising	costs		5,836			5,836	15057
Financing costs				99,597			99,597	143,114
Charitable activities;
School operating costs			8	6,853,864			6,853,864	735603275
Other				781			781	781
				6 960 0 0			696 00	9»
Net income				(1,168,090)	11,763		(1,156,327)	(429021)
Transfers between funds Net movement in funds Reconciliation offunds: Total funds brought forward			19	101,454 (1,066,636) 0 600570	(1017454) (89,691) 0 7		(1,156,327) (4293021) 0» 3
Total funds carried	forward		19	7537936	20	486	7558422	8714749


ASAT3	1AUGUST 2021					REGISTERED	NUMBER:	00747222
				Notes		2021		2020
						6	6	6
Fixed assets
Tangible assets				12		13,511,617		14190336
Fixed asset	investments			13		1		1
						13,511,618		14,190337
Current assets
Debtors				14	350,106		284851
Cash at bank and in hand					66 66		~d
					1,192,608		1,532,768
Cdd:	llllldd		idi	66~6666			1402784
Net current assets						170017
Total assets less current liabilities						13,341,601		14,320321
Creditors:	amounts	falling due	after more
than one	year					(567836179)		(56605572)
						7,558,422		8,714,749
The funds	ofthe chadity
Unrestricted	funds			19		7,537,936		8604 572
Restricted	funds			19		20,486		110177
						7,558,422		8714749

			Notes	2021	2020
				E
Net cash inflow from operating		activities		(199,897)	298535
Cash flows from investing	activities		21	(172,787)	/270 404)
Cash flows from financing	activities		21	(32,735)	(443791)
Net (decrease) / increase	in cash and cash equivalents			(405,419)	(415660)
Cash and cash equivalents	at 1	September		1,247,918	1,6'63 578
Cash and cash equivalents	at31August				88
Reconciliation ofnet incoming		resources to		2021	2020
net cash inflow from operating		activities		E	6
Operating (defiat)/surplus				(1,156,327)	(429021)
Interest received				(665)	(5866)
Interest paid				87,800	124291
Depreciation charges				852,171	853096
Decrease/(Increase) in debtors				(65,255)	210969
Increase in crediinrs				82,379	(454934)
Net cash inflow from operating		activities		~999898	99888

Fixedassets and depreciation	Fixedassets and depreciation
Depreciation is provided on all tangible			fixed assets, excluding	land,	at rates calculated to	write offthe cost less estimated
residual value over	their expected useful economic lives as follows:
Freehold permanent	buildings				3%by the straight	line method
Freehold buildings	of non permanent	construction			5% by the straight	line method
Motor vehicles and	grounds equipment				20% by the straight	line method
Furniture, fittings,	equipment, computer		Ei electrical equipment
which includes:
Furniture, fittings 0r equipment					10%by the straight	line method
Computer ti electrical equipment					25% by the straight	line method

2	Net income for the year				2021		2020
					6		E
	This is suited after charging/(crediting):
	Depreuation of owned fixed	assets			852,171		853,096
	Auditor's remuneration				12000		11310
3	Donations and legacies		Unrestricted	Restricted	Total		Total
			funds	funds	2021		2020
				6	6		E
	Donations		32,410	11,763	44,173		111,470
	Government Grants				60		33 363
			103017	6	9 8		63033
4	Income from		Unrestricted	Restricted	Total		Total
	charitable activities		funds	funds	2021		2020
			6	6	6		E
	School fees
	Standard fees		5,766,039		5,766,039	6,948399
	Extras and other tuition fees		270,159		270,159		2723129
	Less: bursaries, grants and	allowances	(695,270)		(695,270)	(677,069)
			3 0 928		3 8	6	9
	Other educational income
	Registration fees		14,235		14,235		9222
	Windlesham House Assodation		4,500		4,500		5,100
			18735		1073		322
	Other ancillary activities
	Pupil disbursements		175,861		175,861		206114
	Halden Family Theatre
	Educational and charitable	lettings	33,825		33,825		13,889
			209686		209 606		232061

FO	RTHE YEAR	ENDED 31	AU	GUS	T 202	1
5	Other trading	activities				Unrestricted	Restricted		Total	rota/
						funds	funds		2021	2020
						6		6	6
	Utilities recharged					28,196			28,196	29011
	Other income					10,761			10,761	8212
						38957			389	33333
	All income from	other trading	activities		in 2020/21 was attributable		to unrestricted	funds.
6	Development	and fundraising		costs		tinrestricted	Restricted		Total	rota/
						funds 6	funds 6		2021 6	2020r
	Staff costs					5,064			5,064	13299
	Other costs					772			772	1,308
						~836			3836	9*

	All expenditure on development and fundraising	All expenditure on development and fundraising	All expenditure on development and fundraising	costs in 2020/21 was	attributable to unrest	ricted funds.
7	Financing costs			Unrestricted	Restricted	Total	Total
				funds	funds	2021	2020
				6	5	6	8
	Bad debts			11,797		11,797	18823
	Interest	payable	on bank loans and overdrafts	86,123		86,123	120,899
	Interest	payable	on all other loans	1,677		1,677	3,iS/2
				99597		99	3

Unrestricted	Unrestricted		funds
								Other				2021	2020
								costs	Depreciation				6
Teaching					2,837,010			88,853		115,379		390419242	3691662
Welfare					319,501			454,965		60,482		834,948	0599229
Premises					463,182			564,516		630,131		196579829	1627562
Pupil disbursement													09 98
					3,619,693		1,280,148			805,992		5,705,833	6;352,221
Support	costs
Other support			costs for
schooling					523,948			577,905		46,178		1,148,031	1,202,504
					300		3558853			853 0		65306
Alf expenditure			on school	operating	costs in	2020/21	was attributable		to	unrestricted	funds.
Governance		costs included		within charitable		expenditure		can be analysed		below:
							Unrestricted			Restricted		Total	Tora/
								funds		funds		2021	2020
								5		6		6	6
Staff costs								12,000				12,000	12000
Other costs								11,858				11,858	13,024
Auditor's	remuneration;
Audit	fees							129000				12,000	11,310
Non-audit		fees
								35858				~8	36339

Staff	costs	2021	2020
		E	6
Wages	and salaries	3,363,719	3776468
Social	security costs	356,763	350769
Other	pension costs	364,917	5&f,332
Death	in service insurance	*00	33000
		430970659	47033567
Other	staff costs	51,046	706119
		4,148,705	4,809,686

	Average num	ber of monthly emplo	yees during the year:
				2021	2020
	Teaching			81	90
	Other			57	72
				138	162
10	Remuneration	ofkey management	personnel
				2021	2020
				6	6
	Wages and salaries			481,323	57550f
	Social security Other pension	costs costs		56,694 68529 0330» 3
				03030	330 0

	The Charity owns the	entire	share capital ofWindlesham	share capital ofWindlesham	Community	Facilities Limited (Company	Number:	10878580),a
	dormant company incorporated			in England 6Wales on	21Iuly 2017.The turnover	for the year	was Enil and profit for the
	year was Enil. The aggregate		amount ofcapital and reserves at the year end was			E1.
14	Debtors						2021	2020
							6	E
	Schoolfees						154,761	31,080
	Other debtors							59075
	Prepayments						9~ ~	96696
							350,106	284850
15	Creditors: amounts	falling due within one year					2021	2020
							6	E
	Pupil deposits						54,282	108930
	Bankloan							100,500
	Fees in advance						880,706	582,710
	Taxes and soaal security costs						79,278	109531
	Trade and other creditors						219,964	256293
	Accruals						111,149	238320
	Finance lease						9 6	6699
						1,362,625		1,402 284
	Included in fees in advance:
	Deferred income:
	Deferred income at	1 September 2020						582,710
	Resources deferred	during	the	year				880,706
	Amounts released from previous year
	Deferred income at	31August		2021				9

Creditors: amounts	2021	2020
	6	6
Pupil deposits	241,860	200522
Bankloan	5541319	5392000
	5,783,170	5605522

Total future	minimum	finance lease payments
			2021	2020
			E
Not later than one year			17,246	2,200
Later than	one year	and no later than five years
				2DO

Fund Reconciliation	As at				As at
	1September				31August
	2020	Transfers	Income	Expenditure	2021
	5	6	6	6	6
Unrestricted funds
General Fund	8,604,572	101,454	5,791,988	(6,960,078)	7,537,936
Restricted Funds
Windlesham Foundation:
Capital Fund	90,448	(101,454)	11,006
Bursary Fund	18,709		300		19,009
Hardship Fund	D20		457		1,477
	110,177	(101,454)	11,763		20,486
Totalfunds	8,714,749		Sg803I751	(6r960r078)	yg558g422

20	Analysis ofnet assets between funds - current year	Analysis ofnet assets between funds - current year	Analysis ofnet assets between funds - current year	Analysis ofnet assets between funds - current year	Unrestricted	Restricted
					funds	funds	2021
					6	6	6
	Fund balances at 31	August	2021 are represented	by:
	Fixed assets				13,511,618		13,511,618
	Current assets				1,172,122	20,486	1,192,608
	Current liabilities Non-current liabilities				(1,362,625) ~507 79		(1,362,625) ~583579
					7,537,936	20,486	7,558,422
	Analysis ofnet assets between funds - prior			year	Unrestricted	Restricted
					funds	funds	2020
	Fund balances at 31	August	2020 are represented	by:
	Fixed assets				14,190,337		14,190,337
	Current assets				1,422,591	110,177	1,532,768
	Current liabilities Non-current liabilities				(1,402,784) ~5605 572		(17402,784) ~60 2
						0	0714749
21	Gross cash flows					2021	2020
						6	6
	Cash flows from financing		activities
	Loan repayments						(3017500)
	Additional borrowings					43,819
	Interest paid					(87,800)	(126291)
	Finance lease repayments					(9,449)	(18,000)
	Finance lease borrowing					20695
						(32,735)	(443,791)
	Cash flows from investing		activities
	Purchase oftangible	fixed assets				(173,452)	(276270)
	Interest received						5565
						(172,787)	(27040f)

22	Analysis ofchanges in	net debt	net debt		At 1Sept	At 1Sept			Other non-	At 31Aug
						2020		Cash flows	cash changes	2021
	Cash and cash equivalents Cash				1	98	~05 16			842 502
					1,247,918			(405,416)		842,502
	gorrowings
	Loan due within one year				(100,500)			(43,819)		(144,319)
	Loan due after one year				(5,397,000)					(5,397,000)
	Finance Lease due within	one year			(6,000)			11,246		5,246
	Finance Lease due after one year
					(5,503,500)			(32,573)		(5,536,073)
	Total				~3583		~435989			~693
	Reconciliation ofnet cash flow to			movement	in net debt
										2021
	Increase in cash in the	period								(405,416)
	Additional borrowings									(43,819)
	Finance lease repayments									20,695
	Finance Lease borrowing
	Change in net debt Net debt at 1Sept 2020									(437,989) ~55 50
	Net debt at31Aug 2021									4693571
23	Obligations under operating		leases
	Total future minimum lease payments			under non-cancegable		operating		leases are as follows:
									2021	2020
									E	E
	Operating leases which expire:
	within one year								116,776	97,455
	within two to five years								186,277	2055,041
	later than five years
									303053	391396