2022-08-31-accounts - The Malden Trust Limited

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Trustees and Governing	Douglas Moody-Stuart BA (Hons) (Chairman) (Resigned 9July 2022) " David King (Deputy Chairman) (Resigned 9July 2022) ' Martina Asmar (Appointed Chairman from 9July 2022) '"	Douglas Moody-Stuart BA (Hons) (Chairman) (Resigned 9July 2022) " David King (Deputy Chairman) (Resigned 9July 2022) ' Martina Asmar (Appointed Chairman from 9July 2022) '"	Douglas Moody-Stuart BA (Hons) (Chairman) (Resigned 9July 2022) " David King (Deputy Chairman) (Resigned 9July 2022) ' Martina Asmar (Appointed Chairman from 9July 2022) '"	Douglas Moody-Stuart BA (Hons) (Chairman) (Resigned 9July 2022) " David King (Deputy Chairman) (Resigned 9July 2022) ' Martina Asmar (Appointed Chairman from 9July 2022) '"
	David Armitage 1 Sarah Wickens (Appointed Niall Hamilton '	Deputy Chairman		from 9July 2022)"
	'
	Caroline Bonnor-Moris Sarah Kerr-Dineen ' Charlotte Johnston '
	Patrick Hinton (Appointed	25 November	2022)
	"Member of Finance &General Purposes ' Member of Marketing Sub-committee ' Member of Succession Panel ' Member of Education Sub-committee		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 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

Report ofthe	Trustees
Independent	Auditor's	report
Statement of	financial	activities
Balance sheet
Cash flow statement
Notes tothe financial		statements

				Unrestricted	Restricted	Total	Total
			Notes	funds	funds	2022	2021
				E	E	E
INCOME FROM:
Donations and legacies				29,382		29,382	194780
Charitable activities:
School fees				6,845,415		6,845,415	5340928
Other educational	income			15,288		15,288	18735
Other ancillary activities				388,636		388,636	209686
Other trading activities				49,350		49,350	38957
Investment income:
Bank interest receivable				3,923		3,923	665
				7331994		7332994	$883757
EXPENDITURE ON:
Raising funds:
Development and	fundraising	costs					5836
Financing costs				143,716		143,716	99597
Charitable activities:
School operating costs				7,420,065		7,420,065	6853864
Other				194		194	781
				7563975		7563975	6888878
Net income				(231,981)		(231,981)	f'1,156327$
Net movement in	funds			(231,981)		(231,981)	I'1,156327)
Reconciliation of	funds:
Total funds brought	forward			7537936	20436	7555422	8774749
Total funds carried	forward		19	7305955	20466	7326442	7558477

BALANCE SHEET	BALANCE SHEET	BALANCE SHEET	BALANCE SHEET
AS AT 31AUGUST 2022						REGISTERED	NUMBER:	00747222
				Notes		2022		2021
						f
Fixed assets
Tangible assets				12		12,940,527		13,511,617
Fixed asset	investments			13		1
						12,940,528		13511,618
Current assets
Debtors				1at	440,025		350106
Cash at bank and		in hand			1 455264		842582
					1,925,289		1,192608
Creditors:	amounts		fading due within one year	15	~6522 525		1362625
Net current assets						5002036		170017
Total assets less current liabilities						7,938,492		13341,601
Creditors:	amounts		falling due after more than
one year				16		(6125051)		(5/83 179)
						7,326,441		7,558422
The funds	ofthe charity
Unrestricted	funds			19		7,305,955		7,537,936
Restricted	funds			19		20,486		20486
						7,326,441		7,558422

			Notes	2022	2021
				E
Net cash inflow from operating		activities		120182010	(199,894)
Cash flows from investing	activities		21	(225,384)	(172,787)
Cash flows from financing	activities		21	(149,864)	(32,735)
Net (decrease) / increase	in cash and cash equivalents			642,762	(405416)
Cash and cash equivalents	at 1	September		842,502	1,247,918
Cash and cash equivalents	at31August			1488 164	B42502
Reconciliation ofnet incoming net cash inflow from operating		resources to activities		2022 f	2021
Operating (deficit)/surplus				(231,981)	(1,156327)
Interest received				(3,923)	(665)
Interest paid				144,690	87,800
Depreciation charges				800,193	852,171
Decrease/(Increase) in debtors				(89,919)	(65255)
Increase in creditors				398,950	82,379
Net cash inflow from operating		activities		1018010	199897

2	Net income	for the	year	year				2022	2021
								6	E
	This is stated	after charging/(crediting):
	Depreciation	ofowned		fixed	assets			800,193	852171
	Auditor's remuneration							11888	12000
3	Donations	and legacies				Unrestricted	Restricted	Total	Tora/
						funds 6	fundsf	2022 6	2021
	Donations					29,382		29,382	44173
	Government	Grants							150607
						29382		29382	194780
4	Income from					Unrestricted	Restricted	Total	Total
	charitable	activities				funds	fundsf	2022 6	2021
	Schoolfees
	Standard fees					7,530,762		7,530,762	576'6,039
	Extras and other tuition			fees		340,476		340,476	270,159
	Less: bursaries, grants			and	allowances	(180258823)		(1,025,823)	(695270)
						6845 415		6845415	5340928
	Other educational		income
	Registration	fees				13,788		13,788	14235
	Windlesham	House Association				1,500		1,500	4500
						15288		1~ 288	18735
	Other ancillary activities
	Pupil disbursements					326,898		326,898	175861
	Maiden Family Theatre
	Educational	and charitable			lettings	61,738		61,738	33825
						366636		388636	209 6'86

Other	trading	Unrestricted	Restricted	Total	Total
		fundsf	fundsf	2022 f.	2021
Utilities	recharged	22,846		22,846	28196
Other	income	26,504		26,504	10761
		49350		49350	38957

					49350	49350			4	9350	38957
	All income from	other trading	activities		in the current and prior year		was attributable	to	unrestricted	funds.
6	Development	and fundraising		costs		Unrestricted	Restricted			Total	Total
						funds 6	fundsf			2022 f.	2021
	Staff costs										5064
	Other costs										772
											5836
	All expenditure	on development		and fundraising		costs in the current	and prior year was		attributable	to unrestricted	funds.
7	Financing costs					Unrestricted	Restricted			Total	Total
						fundsf	fundsf			2022 f.	2021
	Bad debts Interest payable Interest payable	on bank loans and overdrafts on all other loans				(974) 144,173 517			(974) 144,173 517		11,797 86123 1,677
						143 716			143716		99597

Unrestricted funds
	Staff COStS	Other COStS	Depreciation	2022f	2021 E
Teaching	2,985,593	145,448	106,010	3,237,051	3041,242
Welfare	326,325	575,776	55,723	957,824	834,848
Premises	470,970	647,997	S94,958	1,713,925	17657824r
Pupil disbursement		297532		297 532	171814
	357828888	156665753	7568691	652068332	5705833
Support costs
Other support costs for
schooling	5375318	6328913	43,502	1,213,733	1,148031
	4 320206	2299666	500 293	7420065	88538&1

			Unrestricted	Restricted	Total	Total
			funds	funds	2022	2021
			6	6	6
Staff costs			12,000		12,000	12,000
Other costs			12,299		12,299	11,858
Auditor's	remuneration;
Audit	fees		11,880		11,880	12,000
Non-audit		fees	1,500		1,500
			37679		37679	35858

Staff	costs						2022	2021
							f
Wages	and salaries					335873267		3363719
Social	security costs					315,764		356763
Other	pension costs					342,318		364917
Death	in service insurance						12912	37766
						4,258,261		4,097,659
Other	staff costs						61,945	51,046
						4,320,206		471487705
During	the year 2021/22 there were no restructuring			payment	(2020/21: 1 restructuring	payments	ofE5,000).
Number of employees		whose remuneration	exceeded	E60,000	for the year:		2022	2021
							No.	Iyo.
E120,001 - E130,000
E110,001 - E120,000
E70,001 - E80,000

	Average number ofmonthly	Average number ofmonthly	employees
				2022	2021
	Teaching			82	81
	Other			61	57
				143	138
10	Remuneration	of key management	personnel
				2022	2021
				f
	Wages and salaries			475,634	481,323
	Social security	costs		58,077	56694
	Other pension	costs		100099	37336
				094410	635347

13	Fixed asset investments	Fixed asset investments								Shares in
										subsidiaries
										f
	As at 1September 2021
	As at 31August 2022
	The Charity owns the	entire share capital of Windlesham			Community	Facilities Limited		(Company	Number:	10878580),a
	dormant company incorporated		in England	&Wales on	21july 2017.The turnover		for	the year was anil and profit for the year
	was Enik The aggregate amount		of capital	and reserves	at the year	end was EI.
14	Debtors								2022	2021
									f	E
	School fees								233,736	154,761
	Other debtors								81
	Prepayments								206 200	395345
									440,025	350,106
15	Creditors: amounts	falling due within		one year					2022	2021
									6
	Pupil deposits								121,856	54282
	Bank loan							5,541,319
	Fees in advance								831,960	880,706
	Taxes and social security costs								85,366	79278
	Trade and other creditors								190,822	219964
	Accruals								143,930	111,149
	Finance lease								12072	17246
								699275325		1362625
	Included in fees in advance:
	Deferred income:
	Deferred income at	1September 2021								880,706
	Resources deferred during the year Amounts released from previous year									831,960 ~000 706
	Deferred income at	31August	2022							021060

16	Creditors: amounts	falling due after one	year	2022f	2021
	Pupil deposits			612,051	241,860
	Bank loan				5541,319
				612051	5793179
	Leases
	Finance leases - lessee
	Finance leases relate to the purchase of a tractor.
	Total future minimum	finance lease payments	are as follows:
				2022	2021
					3r
	Not later than one year			12072	47746
				12072	17246'
17	Capital Commitments
	At the balance sheet date there are no commitments.

Fund Reconciliation	Fund Reconciliation	As at			As at
		1September			31August
		2021 f	Income f	Expenditure f	2022 f
Unrestricted funds
General Fund		7,537,936	7,331,994	(7,563,975)	7,305,955
Restricted Funds
Windlesham	Foundation:
Bursary Fund		19,009			19,009
Hardship	Fund	1477			1,477
		20,486			20,486
Totalfunds		7,558,422	7,331,994	(77563975)	77326441

Analysis ofnet assets between	funds -current year	funds -current year	Unrestricted fundsf	Restricted fundsf	2022f
Fund balances at 31August 2022 are represented		by:
Fixed assets			12,940,528		12,940,528
Current assets			1,904,803	20,486	1,925,289
Current liabilities Non-current liabilities			(6,927,325) ~612051		(6,927,325) ~612051
			7,305,955	20,486	7,326,441
Analysis ofnet assets between	funds - prior	year	Unrestricted	Restricted
			funds	funds	2021
Fund balances at 31August 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) ~5783 179		(1,362,625) ~5783179
			7537936	20486	7558422

FO	R THE YEAR ENDED 31	AUGUST 2022
21	Gross cash flows				2022f	2021
	Cash flows from financing	activities
	Additional borrowings					43819
	Interest paid				(144,690)	(87,800)
	Finance lease repayments				(5,174)	(9449)
	Finance lease borrowing					20695
					(149,864)	(32,735)
	Cash flows from investing	activities
	Purchase oftangible fixed assets				(229,307)	(173,452)
	Disposals of fixed assets
	Interest received				3923	665
					(225,384)	(172,787)
22	Analysis ofchanges in net	debt
			At 1Sept		Other non-	At31Aug
			2021	Cash flows	cash changes	2022
	Cash and cash equivalents
	Cash		842 5D2	&12762		1485 264
			842,502	642,762		1,485,264
	Borrowings
	Loan due within one year				(5,541,319)	(5,541,319)
	Loan due after one year Finance Lease due within one	year	(5,541,319) ~17246	5 174	5,541,319	~12072
			(5,558,565)	5,174		(5,553,391)
	Total		~4726 063	647936		~4060 127
	Reconciliation ofnet cash	flow to movement	in net debt
						2022
	Increase in cash in the period					642,762
	Finance lease repayments					5 174
	Change in net debt Net debt at 1Sept 2021					647,936 ~4716D63
	Net debt at31Aug 2022					4068127

Obligations	under operating	leases
Total future	minimum lease payments	under	non-cancellable	operating	leases are as follows:
						2022	2021
						E
Operating leases which expire:
within one	year					114,971	11b,776
within two	to five years					100370	255'277
						110341	355053