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|Reference and Administrative
Details of||the|Company,|its Governors|and Advisers|1-2|
|Governors'
Report||||||3-6|
|Independent
Auditors'|Report on the Financial Statements|||||9-12|
|Statement ofFinancial|Activities|||||13|
|Balance Sheet||||||14|
|Statement ofCash Flows||||||15|
|Notes to the Financial|Statements|||||16-29|
|The following
pages do not|form part ofthe statutory||financial statements:||||
|Charity Detailed Income and Expenditure||Account and||Summaries|||
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
|||Note|2023
5|2023|2023
E|2022f|
|Income from:|||||||
|Charitable
activities||3|4,152,146||4,152,146|3,366,940|
|Investments||4|103,334||103,334|92,207|
|Total income|||4,255,480||4,255,480|3,459,147|
|Expenditure
on:|||||||
|Charitable
activities||5|4,369,534|1,000|4,370,534|4,120,526|
|Total expenditure|||4,369,534|1,000|4,370,534|4,120,526|
|Net movement
in funds|||(114,054)|(1,000)|(115,054)|(661,379)|
|Reconciliation
offunds:|||||||
|Total funds
brought|forward||3,831,075|1,000|3,832,075|4,493,454|
|Net movement
in funds|||(114,054)|(1,000)|(115,054)|(661,379)|
|Total funds carried forward||14|3,717,021||3,717,021|3,632,075|
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|||Note||2023f||2022f|
|---|---|---|---|---|---|---|
|Fixed assets|||||||
|Tangible assets||10||7,512,107||7,662,230|
|||||7,512,107||7,662,230|
|Current assets|||||||
|Debtors||11|183,941||141,096||
|Cash at bank and|in hand||358,549||544,145||
||||542,490||685,241||
|Creditors: amounts|falling due within one year|12|(1,162,191)||(1,459,081)||
|Net current liabilities||||(619,701)||(773,640)|
|Total assets less|current liabilities|||6,892,406||6,866,390|
|Creditors: amounts|falling due after more than||||||
|one year||13||(3,175,385)||(3,056,315)|
|Total net assets||||3,717,021||3,632,075|
|Charity funds|||||||
|Restricted funds||14||||1,000|
|Unrestricted
funds|||||||
|General funds||14|3,408,330||3,518,638||
|Revaluation
reserve|||308,691||312,437||
|Total unrestricted|funds|14||3,717,021||3,631,075|
|Total funds||||3,717,021||3,832,075|
##
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||||2023f|2022f|
|---|---|---|---|---|
|Cash flows from operating|activities||||
|Net cash used
in operating|activities (Note|16)|(306,169)|(31,243)|
|Cash flows from investing|activities||||
|Purchase
oftangible fixed assets|||(43,427)|(109,147)|
|Net cash used in investing|activities||(43,427)|(109,147)|
|Cash flows from financing|activities||||
|Cash inflows from new borrowing|||164,000|425,000|
|Net cash provided
by financing
activities|||164,000|425,000|
|Change
in cash and cash|equivalents
in|the year|(185,596)|284,610|
|Cash and cash equivalents|at the beginning|ofthe year|544,145|259,535|
|Cash and cash equivalents|at the end of|the year (Notes 176 18)|358,549|544,145|
|The notes on pages 16to 29 form part ofthese financial statements|||||
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||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2023
E|2023|2022f|
||Fees||4,019,375|4,019,375|3,239,102|
||Other||132,771|132,771|f27,838|
||||4,152,146|4,152,146|3,366,940|
||Total 2022||3,366,940|3,366,940||
|4.|Investment|income||||
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023
E|2023
E|2022f|
|Income from property|rental|103,334|103,334|92,207|
|Total 2022||92,207|92,207||
##
||Unrestricted|Restricted|||
|---|---|---|---|---|
||funds|funds|Total|Total|
||2023
E|2023
K|2023
E|2022f|
|Teaching|2,599,216|1,000|2,600,216|2,530,943|
|Welfare|604,367||604,367|569,741|
|Bursaries|182,623||182,623|181,879|
|Premises|983,328||983,328|837,963|
||4,369,534|1,000|4,370,534|4,120,526|
|Total 2022|4,120,526||4,120,526||
##
||Activities||||
|---|---|---|---|---|
||undertaken|Support|Total|Total|
||directly|costs|funds|funds|
||2023|2023
E|2023
E|2022f|
|Teaching|2,236,419|363,797|2,600,216|2,530,943|
|Welfare|500,826|103,541|604,367|569,741|
|Bursaries|160,167|22,456|182,623|181,879|
|Premises|858,509|124,819|983,328|837,963|
||3,755,921|614,613|4,370,534|4,120,526|
|Total2022|3,417,940|702,586|4,120,526||
##
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||||||Total|Total|
|---|---|---|---|---|---|---|
||Teaching|Welfare|Bursaries|Premises|funds|funds|
||2023|2023|2023|2023|2023|2022|
||6|6|6|6|6|E|
|Staff costs|2,076,499|40,986||60,124|2,177,609|2,042,011|
|Depreciation||||203,663|203,663|209,850|
|Rent &Rates||||69,076|69,076|45,529|
|Light &Heat||||263,042|263,042|151,276|
|Repairs &|||||||
|Maintenance||||119,946|119,946|104,330|
|Establishment|||||||
|expenses||459,840||39,666|499,506|468,144|
|Garden
&Grounds||||102,992|102,992|89,811|
|Teaching|||||||
|Expenses|159,920||||159,920|145,740|
|Bursaries|||160,167||160,167|161,249|
||2,236,419|500,826|160,167|858,509|3,755,921|3,417,940|
|Total 2022|2,098,705|459,005|161,249|698,981|3,417,940||
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|||||||Total|Total|
|---|---|---|---|---|---|---|---|
|||Teaching|Welfare|Bursaries|Premises|funds|funds|
|||2023f|2023f|2023
f.|2023
f.|2023
f.|2022
E|
|Staff costs||162,169|81,085||81,085|324,339|394,296|
|Depreciation|||||19,887|19,887|26,976|
|Telephone
&|IT|46,929||||46,929|61,841|
|Legal &||||||||
|Professional|fees|13,811||||13,811|14,999|
|Motor &Travel||25,149||||25,149|19,734|
|Advertising||32,703||||32,703|10,942|
|Office expenses||34,912||||34,912|38,050|
|Sundry expenses||15,413||||15,413|9,025|
|Bad Debts||(25,618)||||(25,618)|17,665|
|Finance costs||22,456|22,456|22,456|23,847|91,215|83,790|
|Life Insurance|fees|10,007||||10,007|6,755|
|Governance|costs|25,866||||25,866|18,513|
|||363,797|103,541|22,456|124,819|614,613|702,586|
|Total 2022||432,238|110,736|20,630|138,982|702,586||
##
||||||2023
6|2022f|
|---|---|---|---|---|---|---|
|Fees payable|to the Company's|auditor|for the audit ofthe Company's|annual|||
|accounts|||||18,900|14,160|
|Fees payable|to the Company's|auditor|in respect of:||||
|All non-audit|services not included
above||||4,020|4,290|
##
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|||2023f|2022f|
|---|---|---|---|
|Wages and salaries||2,067,796|2,023,684|
|Social security costs||192,436|175,396|
|Defined contribution|pension costs|241,716|237,227|
|||2,501,948|2,436,307|
|||2023|2022|
|---|---|---|---|
|||No.|No.|
|Academic Staff||54|57|
|Non-Academic|Staff|12|11|
|||66||
|2023|2022|
|---|---|
|No.|No.|
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|||2023f|2022f|
|---|---|---|---|
|Due within one year||||
|Trade debtors||50,983|75,491|
|Other debtors||20,432|21,701|
|Prepayments|and accrued income|112,526|43,904|
|||183,941|141,096|
##
|||||2023f|2022f|
|---|---|---|---|---|---|
|Otherloans|||||136,000|
|Trade creditors||||62,307|88,638|
|Other taxation
and||social security||46,171|46,376|
|Other creditors||||80,345|69,162|
|Accruals and deferred
income||||973,368|1,118,905|
|||||1,162,191|1,459,081|
|Monies received|in|respect offuture year's fees are as follows:-||||
|||||2023
E|2022f|
|Deferred income|at 1 September||2022|1,379,832|853,260|
|Resources deferred||during the year||635,134|1,295,497|
|Amounts
released||from previous|periods|(1,045,004)|(768,925)|
|||||969,962|1,379,832|
##
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|||2023f|2022f|
|---|---|---|---|
|Otherloans||3,023,159|2,633,336|
|Other creditors||100,650|86,069|
|Accruals and deferred|income|51,576|336,910|
|||3,175,385|3,056,315|
|Statemen|t|offun|ds - current year|||||
|---|---|---|---|---|---|---|---|
|||||Balance at 1||||
|||||September|||Balance at 31|
|||||2022f|Income
f|Expenditure
f|August 2023
f|
|Unrestricted||funds||||||
|General|Funds -||all funds|3,518,638|4,255,480|(4,365,788)|3,408,330|
|Revaluation||reserve||312,437||(3,746)|308,691|
|||||3,831,075|4,255,480|(4,369,534)|3,717,021|
|Restricted||funds||||||
|St Neot's|Uniform||Club|1,000||(1,000)||
|Total of|funds|||3,832,075|4,255,480|(4,370,534)|3,717,021|
##
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||Statemen|t offun|ds - prior year|||||
|---|---|---|---|---|---|---|---|
|||||Balance at|||Balance at|
||||1|September|||31August|
|||||2021f|Incomef|Expendituref|2022f|
||Unrestricted
funds|||||||
||Reserves|||4,176,271|3,459,147|(4,116,780)|3,518,638|
||Revaluation
reserve|||316,183||(3,746)|312,437|
|||||4,492,454|3,459,147|(4,120,526)|3,831,075|
||Restricted funds|||||||
||St Neat's|Uniform|Club|1,000|||1,000|
||Total of|funds||4,493,454|3,459,147|(4,120,526)|3,832,075|
|15.|Analysis|of net assets between funds||||||
||Analysis|of net assets between funds - current year||||||
|Analysis|of n|et assets between funds - current year|||
|---|---|---|---|---|
||||Unrestricted|Total|
||||funds|funds|
||||2023f|2023|
|Tangible|fixed|assets|7,512,107|7,512,107|
|Current|assets||542,490|542,490|
|Creditors|due|within one year|(1,162,191)|(1,162,191)|
|Creditors|due|in more than one year|(3,175,385)|(3,175,385)|
|Total|||3,717,021|3,717,021|
##
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##
|Analysis|of n|et assets between funds - prior year||||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||2022f|2022f|2022f|
|Tangible|fixed|assets|7,662,230||7,662,230|
|Current|assets||684,241|1,000|685,241|
|Creditors|due|within one year|(1,459,081)||(1,459,081)|
|Creditors|due|in more than one year|(3,056,315)||(3,056,315)|
|Total|||3,831,075|1,000|3,832,075|
##
||||2023f|2022f|
|---|---|---|---|---|
|Net expenditure
for the year||(as per Statement of Financial Activities)|(115,054)|(661,379)|
|Adjustments
for:|||||
|Depreciation
charges|||223,550|236,826|
|Increase
in debtors|||(42,845)|(27,430)|
|Increase/(decrease)|in creditors||(461,643)|338,219|
|Interest charge|||89,823|82,521|
|Net cash used in operating||activities|(306,169)|(31,243)|
##
|||2023
6|2022f|
|---|---|---|---|
|Cash|in hand|358,549|544,145|
|Total|cash and cash equivalents|358,549|544,145|
##
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##
||||At 1||Other non-||
|---|---|---|---|---|---|---|
||||September||cash|At 31August|
||||2022|Cash flows|changes|2023|
|||||6|6|6|
|Cash|at bank and|in hand|544,145|(185,596)||358,549|
|Debt|due within
1|year|(136,000)|136,000|||
|Debt|due after 1 year||(2,633,336)|(300,000)|(89,823)|(3,023,159)|
||||(2,225,191)|(349,596)|(89,823)|(2,664,610)|
##
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||||2023f|2022f|
|---|---|---|---|---|
|Within|1|year|50,548|65,999|
|Between||1 and 5 years|28,471|79,019|
||||79,019|145,018|
|2023
f.|2022f|
|---|---|
|85,219|f06,441|
#
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|||||2023
6|2023
6|2022f|2022f|
|---|---|---|---|---|---|---|---|
|Income||||||||
|Tuition fees||||4,019,375||3,239,102||
|Other income||||132,771||127,838||
|Letting fees||||103,334||92,207||
||||||4,255,480||3,459,147|
|Gross income|in the reporting||period||4,255,480||3,459,147|
|Less:||||||||
|Direct charitable||expenditure||||||
|Wages &salaries||||1,788,908||1,559,155||
|National
insurance||||164,420||159,343||
|Pension costs||||224,281||213,502||
|Teaching expenses||||159,920||145,740||
|Establishment|costs|||499,506||468,144||
|Light &Heat||||263,042||151,275||
|Repairs &maintenance||||119,946||104,330||
|Depreciation||||203,663||209,850||
|Bursaries||||160,167||151,249||
|Other direct costs||||172,068||135,340||
||||||3,755,921||3,417,940|
##
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||||2023
E|2023
6|2022f|2022f|
|---|---|---|---|---|---|---|
|Support costs|||||||
|Wages &salaries|||278,888||338,454||
|National
Insurance|||28,016||32,108||
|Pension costs|||17,435||23,724||
|Bad Debts|||(25,618)||17,555||
|Depreciation|||19,887||26,976||
|Audit &accountancy|||25,866||18,513||
|Office costs|||107,261||115,571||
|Legal &professional|||13,811||14,999||
|Bank charges
&interest|||91,215||83,790||
|Motor expenses|||25,149||19,734||
|Marketing|||32,703||10,942||
|||||614,613||702,586|
|Total expenditure||||4,370,534||4,120,526|
|Net expenditure
for the|reporting|period||(115,054)||(661,379)|
|Deficit for the reporting|period|||(115,054)||(551,379)|