2020-08-31-accounts - Horris Hill Foundation

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					Page
Reference and administrative		details ofthe Company,	its Governors	and advisers	1-2
Governors' report					3- 11
Independent auditors'	report	on the financial statements			12-14
Statement offinancial	activities				15
Balance sheet					16
Statement ofcash flows
Notes to the financial	statements				18-36

				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
			Note	2020	2020f	2020 5	2019 E
Income from:
Donations and	legacies			162,552	833,185	995,737	889,373
Charitable activities				2,958,331		2,958,331	3,438,827
Investments				2,637	9,886	12,523	11,078
Other income				880,336		880,336	3,583
Total income				4,003,856	843,071	4,846,927	4,342,861
Expenditure on:
Charitable activities			7	3,801,513	9,886	3,811,399	3,585,439
Total expenditure				3,801,513	9,886	3,811,399	3,585,439
Net losses on	investments				(29,307)	(29,307)	(2,752)
Net income				202,343	803,878	1,006,221	754,670
Transfers between funds			19	19,298	(19,298)
Net movement	in funds			221,641	784,580	1,006,221	754,670
Reconciliation	offunds:
Total funds brought		forward		1,775,691	1,983,338	3,759,029	3,004,359
Net movement	in funds			221,641	784,580	1,006,221	754,670
Total funds carried forward				1,997,332	2,767,918	4,765,250	3,759,029

		Note		2020f		2019f
Fixed assets
Tangible assets		13		6,162,707		4,226.352
Investments		14		172,076		201,383
				6834,783		4,427,735
Current assets
Stocks		15	10,412		10,412
Debtors		1IS	716,487		581,859
Cash at bank and	in hand		701,796		1,354,219
			1,428&695		1,946,490
Creditors: amounts	fa9ing due within one
year		17	(2,057,348)		(1,901,836)
Net current liabilities Iassets				(628,653)		44,654
Total assets less	current liabilities			5,706,130		4,472,389
Creditors: amounts	falling due after more
than one year		18		(940,880)		(713,360)
Total net assets				4,765,250		3,759,029
Charity funds
Restricted funds		19		2,767,918		1,983,338
Unrestricted funds		19		1,997,332		1,775,691
Total funds				4,765,250		3,759,029

FOR THE	YEAR ENDED 31 AUGUST	2020
		Note	2020f	2019 6
Cash flows from operating activities
Net cash used in operating activities		22	87,950	1,350,679
Cash flows from investing activities
Dividends, interests and rents from investments			12,523	11,078
Proceeds from the sale oftangible fixed assets			880,336
Purchase oftangible fixed assets			(1,869,015)	(579,764)
Net cash used in investing activities			(976,156)	(568,686)
Cash flows from financing activities
Cash inflows from new borrowing			250,000	400,000
Repayments ofborrowing			(14,217)	(173,394)
Net cash provided by financing activities			235,783	226,606
Change in cash and cash equivalents in	the year		(652,423)	1,008,599
Cash and cash equivalents at the beginning	ofthe year		1,354,219	345,620
Cash and cash equivalents atthe end of	the year	23	701,796	1,354,219
The notes on pages 18to 36 form part ofthese financial statements

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2020 5	2020f	2020f	2019 5
Donations			12,276	833,185	845,461	889,373
Government grants			150,276		150,276
			162,552	833,185	995,737	889,373
Total 2019			26.134	863,239	889,373
Income from charitable		activities
				Unrestricted	Total	Total
				funds	funds	funds
				2020f	2020 5	2019 F
Gross school fees billed				2,660,084	2,660,084	3.099,410
Other ancillary income				298,247	298,247	339,417
				2,958,331	2,958,331	3,438,827
Total 2019				3,438,827	3,438,827
Other ancillary income
					2020 5	2019f
Disbursements					164,222	177,155
Registration fees					12,942	11.576
Accommodation	income				12,295	17,185
Music department					84,505	103,771
Extra tuition					11,482	21,946
HH Society - Subscriptions					3,801	3,640
HH Society - Events income						4,144
Deposit retained					9,000
					298,247	339,417

				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
				2020 6	2020 6	2020f	2019 5
	Investment	income		2,637	9,886	12,523	11,078
	Total 2019			1,322	9,756	11,078
8,	Other incoming		resources

	Unrestricted	Total	Total
	funds	funds	funds
	2020	2020	2019
	E	6	5
Rental income			3,583
Property sales	880,336	880,336
	880,336	880,336	3,583
Total 2019	3,583	3,583

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2020f	2020 5	2020f	2019
Teaching			1,475,139		1,475,139	1,299,434
Welfare			642,538		642,538	717,085
Premises			550,035		550,035	630,446
Grants, awards		&prizes	211,489	9,886	221,375	213,492
Support costs ofschooling			819,102		819,102	664,759
Interest			38,117		38,117	32,496
Bad debt provision			50,000		50,000	15,000
Expenditure	on	governance	15,093		15,093	12.727
			3,801,513	9,886	3,811,399	3,585,439
Total2019			3,573,408	12,031	3,585,439

						Total	Total
			Staff costs	Depreciation	Other costs	funds	funds
			2020 6	2020 f	2020 6	2020 6	2019f
Teaching			1,377,098	47,862	50,179	1,475,139	1,299,434
Welfare			459,365	29,250	153,923	642,538	717,085
Premises			69,010	100,128	380,897	550,035	630,446
Grants, awards		&prizes			221,375	221,375	213,492
Support costs ofschooling			249,715		569,387	819,102	664,759
Interest					38,117	38,117	32,496
Bad debt provision					50,000	50,000	15,000
Expenditure	on	governance			15,093	15,093	12,727
			2,155,188	177,240	1,478,971	3,811,399	3,585,439
Total 2019			1,963,456	162,750	1,459,233	3,585,439

Support costs ofsc	hooling
					2020	2019
					5	5
Sundry expenses					7,807	6,550
Office expenses					35,993	58,443
Membership &subscriptions					7,161	7,648
ITcosts					93,835	60,780
Advertising					65,669	52,159
Website					16,468	883
Professional fees					176,404	31,463
Travel and vehicle expenses					36,574	53,030
Clothing, excursions	and activity	programmes			123,428	155,361
HH Foundation & HH Society					3,448	29,383
Conference costs					2,600	3,025
Wages 8 salaries					249,715	206,034
					819,102	664,759
Auditors' remuneration
					2020	2019
					6	5
Fees payable to the	Company's	auditor		for the audit ofthe Company's
annual accounts					11,220	10,890
Fees payable to the	Company's	auditor		in respect of:
All non-audit services not included			above		3,759	1,102

Staff costs
	2020f	2019 F
Wages and salaries	1,781,643	1,642,076
Social security costs	159,826	141,511
Pension costs	213,719	179,869
	2,155,188	1,963,456

		2020	2019
		No.	No,
Teaching	staff	40	38
Others		43	44
		83	82

The average headcount
	2020	2019
	No.	No.
Teaching staff	26	22
Others	26	27
	52	49

					2020	2019
					No.	No.
In	the	band	f80,001	- F90.000	2	2

						2020f	2019 5
Depreciation	ofthe cricket pavilion	from	restricted	funds		1,218	1,187
Depreciation	ofthe portable fiood	lights from restricted funds					2,901
Depreciation	ofthe electronic scoreboard		from restricted funds			3,097	3,097
Funds spent	on the cricket pavilion					(742)
Funds spent	on new lower school	&design technology projects				15,725	187,815
						19,298	195,000
Tangible fixed assets
				Freehold	Motor	Fixtures and
				property	vehicles	fittings	Total
				E	6		6
Cost or valuation
At 1 September 2019				5,201,484	69,759	1,035,325	6,306,568
Additions				2,077,913		35,683	2,113,596
Disposals				(14,500)		(8,437)	(22,937)
At 31 August	2020			7,264,897	69,759	1,062,571	8,397,227
Depreciation
At 1 September 2019				1,258,541	66,086	755,589	2,080,216
Charge for the year				100,727	2,025	74,488	177,240
On disposals				(14,500)		(8,436)	(22,936)
At 31 August	2020			1,344,768	68,111	821,641	2,234,520
Net book value
At 31 August	2020			5,920,129	1,648	240,930	6,162,707
At 31 August	2019			3,942,943	3,673	279,736	4,226,352

	FOR THE YEAR ENDED 31 A	FOR THE YEAR ENDED 31 A	UGUST 2020
14.	Fixed asset investments
				Listed
				securities
				6
	Cost or valuation
	At 1 September 2019			201,383
	Revaluations			(29,307)
	At 31August	2020		172,076
	Material investments
			2020f	2019 6
	BlackRock Investments		54,676	56,085
	M&G Charifund		114,154	141,439
			168,830	197,524
15.	Stocks
			2020f	2019f
	Consumables		10,412	10,412
16.	Debtors
			2020	2019
			5	6
	Trade debtors		546,205	458,500
	Other debtors		5,289
	Prepayments	and accrued income	164,993	123,359
			716,487	581.859

					2020	2019
					6	5
Bank loans					38,876	51,873
Trade creditors					63,577	193,724
Other taxation and		social security			36,603	36,035
Fees in	advance				1,247,499	1,196,269
Other creditors					327,483	200,865
Accruals	and deferred		income		343,310	223,070
					2,057,348	1,901,836
					2020	2019
					6	5
Deferred	income at 1 September			2019	1,290,856	1,194,665
Resources deferred		during the year			1,234,388	1,338,736
Amounts	released	from previous		periods	(1,195,009)	(1,242,545)
					1,330,235	1,290,856

		2020	2019
		5	5
Bank loans		913,953	665,173
Fees in advance		26,927	48,187
		940,880	713,360
Included within the above are amounts	falling due as follows:
		2020	2019
			5
Between one and two years
Bank loans		69,135	51,873
Between two and five years
Bank loans		633,613	408,727
Over five years
Bank loans		211,205	204,573

					2020f	2019 5
Payable	or	repayable	by	instalments	225,952	204,573
					225,952	204,573

	Balance at 1					Balance at
	September			Transfers	Gains/	31August
	2019 6	Income 6	Expenditure 6	in/outf	(Losses)	2020 6
Unrestricted
funds
Designated
funds
Designated
property	922,751		(50,895)	15,725		887,581
General funds
General fund	852,940	4,003,856	(3,750,618)	3,573		1,109,751
Total
Unrestricted
funds	1,775,691	4,003,856	(3,801,513)	19,298		1,997,332
Restricted
funds
Bursary	201,383	31,979	(9,886)		(29,307)	194,169
Presentation	60,791	3,330		(3,573)		60,548
Development	91,328	58,005		(15,725)		133,608
Theatre	1,629,836	749,757				2,379,593
	1,983,338	843,071	(9,886)	(19,298)	(29,307)	2,767,918
Total offunds	3,759,029	4,846,927	(3,811,399)		(29,307)	4,765,250

Statemen	t offu	nds	- prior year
			Balance at					Balance at
		1	September 2018	Income	Expenditure	Transfers in/out	Gains/ (Losses)	31 August 2019
			E	6	6	6	5	6
Unrestricted
funds
Designated
funds
Designated property			778,481		(43,545)	187,815		922,751
General	funds
General	fund		908,027	3,469,866	(3,532,138)	7,185		852,940
Total
Unrestricted
funds			1,686,508	3,469,866	(3,575,683)	195,000		1,775,691
Restricted
funds
Bursary			204,135	9,756	(9,756)		(2,752)	201,383
Presentation			67,976			(7,185)		60,791
Development			210,629	68,514		(187,815)		91,328
Theatre			835,111	794,725				1,629,836
			1,317,851	872,995	(9,756)	(195,000)	(2,752)	1,983,338
Total of	funds		3,004,359	4,342,861	(3,585,439)		(2,752)	3,759,029

Summary	offun	ds - current yea	r
		Balance at 1					Balance at
		September			Transfers	Gainsi	31August
		2019f	Income 6	Expenditure f	in/out 5	(Losses) 6	2020 5
Designated
funds		922,751		(50,895)	15,725		887,581
General funds		852,940	4,003,856	(3,750,618)	3,573		1,109,751
Restricted	funds	1,983,338	843,071	(9,886)	(19,298)	(29,307)	2,767,918
		3,759,029	4,846,927	(3,811,399)		(29,307)	4,765,250
Summary	offunds - prior year
		Balance at					Balance at
		1 September			Transfers	Gains/	31August
		2018	Income	Expenditure	in/out	(Losses)	2019
		E	5	5		5	E
Designated
funds		778,481		(43,545)	187,815		922,751
General funds		908,027	3,469,866	(3,532,138)	7,185		852,940
Restricted	funds	1,317,851	872,995	(9,756)	(195,000)	(2,752)	1,983,338
		3,004,359	4,342,861	(3,585,439)		(2,752)	3,759,029

Analysis ofnet assets between funds Analysis ofnet assets between funds - current period
	Unrestricted	Restricted	Total
	funds	funds	funds
	2020	2020	2020
		6	6
Tangible fixed assets	3,452,119	2,710,588	6,162,707
Fixed asset investments		172,076	172,076
Current assets	1,298,860	129,835	1,428,695
Creditors due within one year	(1,812,767)	(244,581)	(2,057,348)
Creditors due in more than one year	(940,880)		(940,880)
Total	1,997,332	2,767,918	4,765,250
Analys)s ofnet assets between funds - prior period
	Unrestricted	Restricted	Total
	funds	funds	funds
	2019 6	2019 6	2019f
Tangible fixed assets	3,555,483	670,869	4,226,352
Fixed asset investments		201,383	201,383
Current assets	835,404	1,111.086	1,946,490
Creditors due within one year	(1.901,836)		(1,901,836)
Creditors due in more than one year	(713,360)		(713,360)
	1,775,691	1,983,338	3,759,029

				2020 6	2019f
	Net income for the period (as per Statement		of Financial Activities)	1,006,221	754,670
	Adjustments for:
	Depreciation charges			177,240	162,750
	Loss on investments			29,307	2,752
	Dividends, interests and rents from investments			(12,523)	(11,078)
	Loss/(profit) on the sale offixed assets			(880,336)	1,525
	Decrease/(increase) in debtors			(134,628)	60,683
	Increase/(decrease) in creditors			(97,331)	379,377
	Net cash provided by operating	activities		87,950	1,350,679
23.	Analysis ofcash and cash equivalents
				2020 f	2019 E
	Cash in hand			701,796	1,354,219
	Total cash and cash equivalents			701,796	1,354,219
24.	Analysis ofchanges in net debt
			At 1		At 31
			September		August
			2019	Cash flows	2020
				K	E
	Cash at bank and in hand		1,354,219	(652,423)	701,796
	Debt due within 1 year		(51,873)	12,997	(38,876)
	Debt due after 1 year		(665,173)	(248,780)	(913,953)
			637,173	(888,206)	(251,033)

			2020	2019
			6	6
Not later than		1 year	64,374	72,166
Later than	1 year and not later than 5years		126,802	168,907
Later than	5years			11,101
			191,176	252,174