#
##
##
|||Page|
|---|---|---|
|General information|||
|Report ofthe Governors||2 —7|
|Statement ofGovernors'|responsibilities||
|Report ofthe Independent|Auditors|9-11|
|Statement offinancial activities||12|
|Balance sheet||13|
|Statement ofcash flows||14|
|Notes to the financial statements||15-24|
|PAGES NOT FORMING PART OF THE FINANCIAL STATEMENTS|||
|Detailed statement offinancial activities||25-29|
##
|Chief Executive:|Chief Executive:|Jenny Abrahamsson|(Head Teacher)|(Head Teacher)|(Head Teacher)|
|---|---|---|---|---|---|
|Registered|office:|82 Lonsdale
Road||||
|||London||||
|||SW139JS||||
|Bankers:||Nordea||||
|||Hamngatan
10||||
|||10571Stockholm||||
|||Sweden||||
|||HSBC Bank||||
|||172Upper Richmond||Road||
|||London
SW15 2SH||||
|Statutory|Auditor:|Harmer Slater Limited||||
|||Salatin House||||
|||19Cedar Road||||
|||Sutton||||
|||Surrey
SM2 5DA||||
|Valuation|advisers:|The Agency for National|||Education|
|||10620 Stockholm||||
|||Sweden||||
|Registered|company number:|959675 (England and||Wales)||
|Registered|charity number:|307379||||
##
##
##
|and also fulfilled the roles of Govern|ors ofthe charity and directors ofthe char|ors ofthe charity and directors ofthe char|itable
company.|
|---|---|---|---|
|Up until the AGM 21October 2020|the Board was composed as follows:|||
|Mrs Caroline Bar|Chairman|||
|Ms Cecilia Korner|Vice Chairman|||
|Mr Thomas Paulsson|Treasurer|||
|Mrs Marika Amartey|Representative|ofthe Swedish National|Agency for Education|
|Mrs Anna Pennock|Secretary|||
|Mrs Charlotte
Henderson|Other business|||
|Mrs Christina
Cudworth-Franson|Other business|||
|After the AGM 21October 2020the|Board was composed as follows:|||
|Mrs Caroline Bar|Chairman|||
|Mrs Christina
Cudworth-Franson|Vice Chairman|||
|Mrs Anna Pennock|Treasurer|||
|Mrs Marika Amartey|Representative|ofthe Swedish National|Agency for Education|
|Mrs Annelie Selander|Secretary (split|role)||
|Mr Soren Kroon|Secretary (split|role)||
|Mrs Hanna Roos|Other business|||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|FOR THE YEAR END|ED 30JUNE 2021||||||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|||
|||Note|Funds|Funds|2021|2020|
|INCOME FROM:|||||||
|Charitable activities|||||||
|Swedish Government|grants:||||||
|a) Education|||231,485||231,485|243,596|
|b) Premises||||166,5323|166,532|113,080|
|Fees receivable|||1,828,003||1,828,003|2,639,478|
|Sixth form host family|project||204,313||204,313|461,154|
|UK Government
Grants|||200,485||200,485|85,152|
|Other activity income|||21,883||21,883|12,103|
|Investments|||||||
|Bank and other interest|||907||907|5,684|
|Other resources|||||||
|Exchange gain|||35,897||35,897||
|Total income||2|2,522,973|166,532|2,689,505|3,560,247|
|EXPENDITURE ON:|||||||
|Charitable activities|||||||
|Educational
costs|||1,970,374|329,644|2,300,018|2,731,411|
|Welfare costs|||66,293||66,293|70,939|
|Premises costs|||76,986|32,372|109,358|106,393|
|Host Family Scheme expenditure|||228,018||228,018|464,666|
|Other activity expenditure|||6,016||6,016|51,217|
|Governance
costs|||103,890||103,890|100,760|
|Totalexpenditure||3|2,451,577|362,016|2,813,593|3,525,386|
|NET
INCOMING/(OUTGOING)|||||||
|RESOURCES BEFORE|TRANSFERS||71,396|(195,484)|(124,088)|34,861|
|Gross transfers between funds|||195,484|195484|||
|NET MOVEMENTS IN|FUNDS||(124,088)||(124,088)|34,861|
|TOTAL FUNDS BROUGHT FORWARD|||2,353,420||2,353,420|2,318,559|
|TOTAL FUNDS CARRIED FORWARD||12|2,229,332||2,229,332|2,353,420|
##
|BALANCE SHEET
(COMPANY
NO.959675)
AS AT 30JUNE 2021|||||||
|---|---|---|---|---|---|---|
||Note|2021|||2020||
|FIXEDASSETS|||||||
|Tangible assets|||968,779|||992,909|
|CURRENT ASSETS|||||||
|Debtors||186,805||640,841|||
|Short term deposits||600,000||600,000|||
|Cash at bank and in hand||621,678||886,825|||
|||1,408,483||2,127,666|||
|CREDITORS|||||||
|Amounts
falling due within one year|10|147,930||767,155|||
|NET CURRENT ASSETS|||1,260,553|||1,360,511|
|NET ASSETS|||2,229,332|||2,353,420|
|Representing:|||||||
|FUNDS|||||||
|RESTRICTED INCOME FUNDS|12||||||
|UNRESTRICTED INCOME FUNDS|12||2,229,332|||2,353,420|
||||2,229,332|||2,353,420|
##
||||2021|2020|
|---|---|---|---|---|
|Cash flows from operating activities:|||||
|Net income for the year|||(124,088)|34,861|
|Adjustments
for items not affecting cash flows:
Depreciation
ofequipment
Bank interest received|||104,982
~907|110,230
~5.604|
|Net operating
cash flows before reinvestment||in|||
|working capital|||(20,013)|139,407|
|Decrease/(increase)
in debtors
(Decrease)/increase
in creditors|||454,036
~619.225|235,899
~186.125|
|Net cash flows from operating activities|||185,202|189,181|
|Cash flow from investing activities:|||||
|Purchase oftangible
fixed assets
Bank interest received
Net cash used in investing activities|||(80,852)
907
~79.945|(7,697)
5,684
~2.013|
|Change in cash and cash equivalents|in the|reporting|||
|period|||265,147|187,168|
|Cash and cash equivalents
atthe beginning||ofthe reporting|||
|period|||1,486,825|1,299,657|
|Cash and cash equivalents
atthe end|ofthe|reporting|||
|period|||1,221,678|1,486,825|
##
##
##
##
##
##
##
##
##
##
|Leasehold buildings,|including|extension|2%on cost|
|---|---|---|---|
|Building improvements|||2-10%on cost|
|Fixtures, fittings and|equipment||20%on cost|
|(including
computer|and video|equipment)|25%on cost|
##
##
##
##
##
##
##
##
##
||||||Stall|Support|Depreciation|2021|
|---|---|---|---|---|---|---|---|---|
||||||costs|costs||Total|
|Charitable||expenditure|||||||
|Costs ofactivities in|||furtherance|of|||||
|charitable|company's||objectives:||||||
|Education|||||1,785,212|486,080|28,726|2,300,018|
|Welfare|||||22,808|43,485||66,293|
|Premises|||||32,372||76,986|109,358|
|Host Family||scheme|||23,244|204,774||228,018|
|Other activities||||||6,016||6,016|
|Governance||costs|||67,588|36,302||103,890|
||||||1,931,224|776,657|105,712|2,813,593|
##
||||||StafF|Support|Support|Depreciation||2020||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||costs||costs|||Total||
|Charitable
expenditure||||||||||||
|Costs ofactivities in||furtherance||of||||||||
|charitable|company's|objectives:||||||||||
|Education|||||2,061,594|634,968||34,849||2,731,411||
|Welfare|||||28,493|42,446||||70,939||
|Premises|||||31,012|||75,381||106,393||
|Host Family scheme|||||26,905|437,761||||464,666||
|Other activities||||||51,217||||51,217||
|Governance costs|||||59,194|41,566||||100,760||
||||||2,207,198|1,207,958||110,230||3,525,386||
|||||||||2021|||2020|
|||||||||Total|||Total|
||||||||||6|||
|STAFF||||||||||||
|Salaries and wages||||||||1,651,057|||1,879,165|
|Employer's
national||insurance||||||166,255|||196,501|
|Pension cost||||||||110,563|||125,865|
|||||||||1,927,875|||2,201,531|
|Average nuinber
employed|||in the|year|[including|part-time|employees]|||||
|Teaching|staff|||||||39|||40|
|Others|||||||||5||7|
||||||||||||47|
|The number ofemployees|||whose total employee|||benefits|exceeded 660,000are||as|follows:||
|||||||||2021|||2020|
|||||||||Total|||Total|
|Between:|660,000 —670,000||||||||1||1|
||680,000 - 690,000|||||||||||
||690,000 —6100,000|||||||||||
##
##
##
|NET INCOM|ING R|ESO|URCE|S|||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||Total|Total|
|Net incoming|resources is||stated|atter charging/(crediting):|||
|Other operating|lease rentals||—property||192,976|313,421|
|Depreciation|||||105,712|110,230|
|Exchange gain|||||(35,897)||
|Auditors'
remuneration||—audit ofthe charity's accounts|||4,670|4,620|
|Auditors'
remuneration||—non-audit||services|6,866|5,028|
##
##
||Long Leasehold|Building|Fixtures, fittings &||
|---|---|---|---|---|
||Premises|improvements|Equipment|Total|
|||6|6|6|
|Cost|||||
|At 1July 2020|887,899|1,301,914|362,344|2,552,157|
|Additions
in year||24,722|56,130|80,852|
|At 30June 2021|887,899|1,326,636|418,474|2,633,009|
|Depreciation|||||
|At 1July 2020|690,619|546,127|322,501|1,559,248|
|Charge foryear|17,758|58,498|28,726|104,982|
|At 30June 2021|708,377|604,625|351,227|1,664,230|
|Net book amounts|||||
|At 30June 2021|179,522|722,012|67,247|968,779|
|At 30June 2020|197,280|755,787|39,843|992,909|
##
##
|DEBTORS|||
|---|---|---|
||2021|2020|
||6|6|
|Fees receivable|16,099|35,166|
|Fees billed in advance|13,880|566,790|
|Other debtors|69,060|1,004|
|Prepayments|87,766|37,881|
||186,805|640,841|
##
|CA|SH AT BANK AND IN HAND|||
|---|---|---|---|
|||2021|2020|
|||6|6|
|Cash|at bank|621,678|886,825|
|Short|term deposits|600,000|600,000|
|||1,221,678|1,486,825|
##
|CREDITORS|||
|---|---|---|
||2021|2020|
|Amounts
falling due within one year:|||
|Trade creditors|30,090|78,008|
|Other creditors|15,725|452|
|Social security and other taxes|56,691|56,015|
|Accrued expenses|27,554|47,630|
|Fees billed in advance|17,870|585,050|
||147,930|767,155|
##
##
##
|FUNDS
Year ended 30June 2021||||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||Funds|Funds|Funds|
|At 1July|2,353,420||2,353,420|
|Incoming resources|2,522,973|166,532|2,689,505|
|Resources expended|(2,451,577)|(362,016)|(2,813,593)|
|Transfers|(195,484)|195,484||
|At 30June|2,229,332||2,229,332|
|Year ended 30June 2020||||
||Unrestricted|Restricted|Total|
||Funds|Funds|Funds|
||6||6|
|At 1July|2,318,559||2,318,559|
|Incoming resources|3,447,167|113,080|3,560,247|
|Resources expended|(3,068,233)|(457,153)|(3,525,386)|
|Transfers|(344,073)|344,073||
|At 30June|2,353,420||2,353,420|
##
##
##
|ANALYSIS OF NET ASSETS||||
|---|---|---|---|
|Year ended 30June 2021||||
||Unrestricted|Restricted|Total|
||Funds|Funds|Funds|
|||6||
|Tangible fixed assets|968,779||968,779|
|Current assets|1,408,483||1,408,483|
|Current liabilities|(147,930)||(147,930)|
||2,229,332||2,229,332|
|Year ended 30June 2020||||
||Unrestricted|Restricted|Total|
||Funds|Funds|Funds|
||||6|
|Tangible fixed assets|992,909||992,909|
|Current assets|2,127,666||2,127,666|
|Current liabilities|(767,155)||(767,155)|
||2,353,420||2,353,420|
##
|The total offuture minimum
lease payments
is as follow|s:|||
|---|---|---|---|
|||Land and||
|||Buildings||
||2021||2020|
|Not later than one year|185,600||8,500|
|Later than one year and not later than five years|659,053||34,000|
|Later than 5years|408,000||416,500|
||1,252,653||459,000|
##
##
##
##
||||||Unrestricted|Restricted||
|---|---|---|---|---|---|---|---|
||||||Funds|Funds|2021|
||||||E|6|6|
|INCOME FROM:||||||||
|Charitable activities||||||||
|Swedish government|grants:|||||||
|a) Education|||||231,485||231,485|
|b) Premises||||||166,532|166,532|
|UK Grants|||||200,485||200,485|
|Fees receivable|||||1,828,003||1,828,003|
|Sixth form host family|project||||204,313||204,313|
|Extra activities including||excursions|||21,883||21,883|
|Investment||||||||
|Bank and other interest|||||907||907|
|Other incoming resources||||||||
|Foreign currency gains|||||35,897||35,897|
|Total incoming resources|||||2,522,973|166,532|2,689,505|
|RESOURCES EXPENDED||||||||
|Charitable activities:||||||||
|Education||||||||
|Teachers' and administrative|||staff salaries||1,457,537||1,457,537|
|Supply and self-employed||teachers|||19,171||19,171|
|Catering, cleaning and|sundry||salaries||47,508||47,508|
|Social security and pension costs|||||276,818||276,818|
|Other staff costs|||||18,051||18,051|
|Recruitment
and training||costs|||6,938||6,938|
|Guest lecturers||||||||
|Rent and facilities||||||192,976|192,976|
|Property maintenance|and cleaning|||||62,973|62,973|
|Light &heat||||||22,079|22,079|
|Rates &water||||||27,591|27,591|
|Insurance||||||24,025|24,025|
|Travelling
allowances|||||2,682||2,682|
|Library|||||1,510||1,510|
|Educational
materials|||||57,304||57,304|
|Running
and misce!Ianeous expenses|||||28,606||28,606|
|ITsupport,
equipment|and licence costs||||25,523||25,523|
|Fixtures, fittings and equipment||||depreciation|28,726||28,726|
||||||1,970,374|329,644|2,300,018|
##
##
|DETAILED STATEMENT OF F
FOR THE YEAR ENDED 30JU|DETAILED STATEMENT OF F
FOR THE YEAR ENDED 30JU|IN
N|ANCI
E 20|AL ACTI
21- CON|VITIES
TINUED|||
|---|---|---|---|---|---|---|---|
|YEAR ENDED 30IUNE 2021|||||Unrestricted|Restricted||
||||||Funds|Funds|2021|
||||||||E|
|Welfare||||||||
|Healthcare
staff salaries|||||22,808||22,808|
|School meals|||||43,485||43,485|
||||||66,293||66,293|
|Premises||||||||
|Maintenance
staff salaries||||||32,372|32,372|
|Leasehold premises depreciation|||||59,228||59,228|
|Building improvements
depreciation|||||17,758||17,758|
||||||76,986|32,372|109,358|
|Hostfamily scheme||||||||
|Staffsalaries|||||23,244||23,244|
|Host family scheme expenses|||||204,774||204,774|
||||||228,018||228,018|
|Other activity expenditure||||||||
|School trips/excursions|||||1,617||1,617|
|After school activities and sundry|||salaries|||||
|After school activities|||||483||483|
|Other activities|||||3,916||3,916|
||||||6,016||6,016|
|Governance||||||||
|Salaries|||||67,588||67,588|
|Charity contributions||||||||
|Legal and professional|||||23,964||23,964|
|Auditors'
fees —non audit services|||||6,866||6,866|
|Auditors'
fees —audit ofcompany's|||accounts||4,670||4,670|
|Bad and doubtful
debts|||||802||802|
|Total governance
costs|||||103,890||103,890|
|Total resources expended|||||2,451,577|362,016|2,813,593|
|Net incoming/(outgoing)|resources|||before||||
|transfers|||||71,396|(195,484]|(124,088)|
|Transfer between
funds|||||(195,484)|195,484||
|NET INCOMING/(OUTGOING)||RESOURCES|||(124,088)||(124,088)|
|FUNDS BROUGHT FORWARD|||||2,353,420||2,353,420|
|FUNDS CARRIED FORWARD|||||2,229,332||2,229,332|
##
|||||||Unrestricted|Restricted||
|---|---|---|---|---|---|---|---|---|
|||||||Funds|Funds|2020|
||||||||6|E|
|INCOME FROM:|||||||||
|Charitable activities|||||||||
|Swedish government|grants:||||||||
|a) Education||||||243,596||243,596|
|6) Premises|||||||113,080|113,080|
|UK Grants||||||85,152||85,152|
|Fees receivable||||||2,639,478||2,639,478|
|Sixth form host family|project|||||461,154||461,154|
|Extra activities including||excursions||||12,103||12,103|
|Investment|||||||||
|Bank and other interest||||||5,684||5,684|
|Total incoming resources||||||3,447,167|113,080|3,560,247|
|RESOURCES EXPENDED|||||||||
|Charitable activities:|||||||||
|Education|||||||||
|Teachers' and administrative||||staff salaries||1,670,595||1,670,595|
|Supply and self-employed||teachers||||9,625||9,625|
|Catering, cleaning and|sundry|||salaries||62,966||62,966|
|Social security and pension|||costs|||322,366||322,366|
|Other staff costs||||||28,524||28,524|
|Recruitment
and training||costs||||11,857||11,857|
|Guest lecturers||||||1,818||1,818|
|Rent and facilities|||||||313,421|313,421|
|Property maintenance|and||cleaning||||51,229|51,229|
|Light &heat|||||||22,505|22,505|
|Rates &water|||||||10,519|10,519|
|Insurance|||||||28,467|28,467|
|Travelling
allowances||||||2,029||2,029|
|Library||||||1,525||1,525|
|Educational
materials||||||88,199||88,199|
|Running
and miscellaneous|||expenses|||52,087||52,087|
|ITsupport,
equipment|and||licence costs|||18,830||18,830|
|Fixtures, fittings and equipment|||||depreciation|34,849||34,849|
|||||||2,305,270|426,141|2,731,411|
##
##
|DETAILED STATEMENT OF|FINA|FINA|NCIAL ACTIVITIES|NCIAL ACTIVITIES|NCIAL ACTIVITIES|||
|---|---|---|---|---|---|---|---|
|FOR THE YEAR ENDED 30|JUNE||2021- CONTINUED|||||
|YEAR ENDED 30IUNE 2020|||||Unrestricted|Restricted||
||||||Funds|Funds|2020|
||||||||E|
|Welfare||||||||
|Healthcare
staff salaries|||||28,493||28,493|
|School meals|||||42,446||42,446|
||||||70,939||70,939|
|Premises||||||||
|Maintenance
staff salaries||||||31,012|31,012|
|Leasehold premises
depreciation|||||17,758||17,758|
|Building improvements
depreciation|||||57,623||57,623|
||||||75,381|31,012|106,393|
|Hostfamily scheme||||||||
|Staffsalaries|||||26,905||26,905|
|Host family scheme expenses|||||437,761||437,761|
||||||464,666||464,666|
|Other activity expenditure||||||||
|School trips/excursions|||||37,002||37,002|
|After school activities and sundry||salaries|||2,000||2,000|
|ARer school activities|||||4,663||4,663|
|Other activities|||||7,552||7,553|
||||||51,217||51,218|
|Governance||||||||
|Salaries|||||59,194||59,194|
|Charity contributions|||||331||331|
|Legal and professional|||||27,131||27,131|
|Auditors'
fees —non audit services|||||5,028||5,028|
|Auditors'
fees —audit ofcompany's|||accounts||4,620||4,620|
|Bad and doubtful
debts|||||4,456||4,456|
|Totalgovernance
costs|||||100,760||100,760|
|Total resources expended|||||3,068,233|457,153|3,525,386|
|Net
incoming/(outgoing)
transfers|resources|||before|378,934|(344,073)|34,861|
|Transfer between
funds|||||(344,073)|344,073||
|NET INCOMING/(OUTGOING)|RESOURCES||||34,861||34,861|
|FUNDS BROUGHT FORWARD|||||2,318,559||2,318,559|
|FUNDS CARRIED FORWARD|||||2,353,420||2,353,420|