2021-08-31-accounts - Greenacre Trust Limited

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Charitable company information
Report ofthe	Trustees	2-6
Independent	auditor's report	7 —11
Consolidated	statement offinancial activities	12 —13
Consolidated	balance sheet	14
Balance sheet		15
Consolidated	cash flow statement	16
Notes to the	financial statements	17-32

Company	registered	registered	00856842
Charity registered		number	307530
Registered	office:		58 - 60 Shakespeare		Road
			BEDFORD
			Bedfordshire
			MK40 2DL
Directors	(Council):		Mr G M Bates	OBE	(resigned 30April 2021)
			Mr SJ Williamson (resigned 30 April 2021)
			Mr C Simmonds (resigned				30 April 2021)
			Mr I R Flack
			Mr B H Thompson		(resigned 30April 2021)
			Mr D Eyton Williams		(Chairman)
			Mr M J Grafton	(resigned		25 November		2020)
			Mrs M J Burt	(resigned 30			April 2021)
			Mr J J Leydon
			Mrs D P Lennie (resigned				30 April 2021)
			Mr A T Knight	(resigned 30April 2021)
			Mrs E P Coley	(appointed			10Sept 2020, resigned 30 April
			2021)
			Mr A Whiteley	(appointed		17March 2021)
Bankers:			HSBC Bank pic
			12Allhallows
			BEDFORD
			Bedfordshire
			MK40 1LJ
Auditors:			Grant Thornton	UK	LLP
			Statutory Auditor
			Chartered Accountants
			Victoria House
			199Avebury Boulevard
			Milton Keynes
			MK9 1AU

								Total funds	Total funds
								2021	2020
							Note	F
Income from:
Charitable activities
Fees receivable								3,636,280	5,097,310
Meal income								134,135	128,396
CJRS income (restricted		income)						65,233	462,681
Donations and legacies Activities for generating Investments		funds						43,510 15,571 218	48,756 21,383 19,370
Other income
Rental income								100,000
Profit on disposal of Other income	asset							60,000 11,468	31,514
Total income								4,066,415	5,809,410
Expenditure on:
Raising funds Ancillary trading								22,195	8,888
Charitable activities
Education								3,230,798	5,363,094
Impairment charge								848,836
Donation made to Bedford Greenacre School Limited					Independent			95,114
Total expenditure								4,196,943	5,371,982
Total net income								(130,528)	437,428
Reconciliation offunds
Total funds brought	forward		at	1 September		2020		7,902,424	7,464,996
Total funds carried	forward			at 31 August		2021		7,771,896	7,902,424

			Note		2021		2020
Fixed assets
Tangible assets					6,828,486		6,361,334
Current assets
Debtors Cash at bank			7	2,270,049		264,699 1,864,302
Creditors: amounts	falling due			2,270,049		2,119,001
within one year				(326,639)		(667,911)
Net current assets					1,943,410		1,561,091
Total assets less cur'rent		liabilities			7,771,896		7,902,424
Funds
Unrestricted funds
Development reserve General fund			14 14		7,77'I,896		2,000,000 5,902,424
					7,771,896		7,902,424

each ass	et based on current ma	rket prices, over its expe
Freehold	land	nil
Freehold	buildings	40 —50years
Furniture		5 —10years
Fixtures	and fittings	5 —10years
Motor vehicles		3 —5 years
Computer	equipment	3 —4 years

Fees receivable			2021	2020
			E	E
The school fees income	comprises
Gross fees			3,986,300	5,496,818
Less: Total scholarships,	bursaries,	etc.	(350,020)	(399,508)
			3,636,280	5,097,310

Charitable activities —co	mpany
Fees receivable			2021	2020
			F
The school fees income Gross fees	comprises		2,500,336	3,513,013
Less: Total scholarships,	bursaries,	etc.	(242,498)	(274,768)
			2,257,838	3,238,246

a) Total expenditure
		Staff	Depreciation	Support
		costs		costs	Total	Total
		(Note 4) f	(note 5)		2021 f.	2020 f.
Cost of raising funds Ancillary trading				22,195	22,195	8,888
Total cost ofgenerating	funds			22,195	22,195	8,888
Charitable expenditure Teaching Welfare		2,246,710 84,618		102,837 1,537	2,367,547 86,155	3,770,515 125,313
Premises		112,825	84,058	296,530	493,413	686,827
Impairment charge			848,836		848,836
School administration
and governance		163,642	8,915	111,126	283,683	780,439
Total charitable expenditure		2,625,795	941,809	512,030	4,079,634	5,363,094
Other expenditure Donation made				95,114	95114
Total other expenditure				95,114	95,114
Total Expended		2,625,795	941,809	629,339	4.196.943	5,371,982
b) Governance included	in support costs				2021	2020
					F
Remuneration paid to auditor for audit services Other non-audit services					27,750 11,500	24,525 3,250
					39,250	27,775

a) Total expenditure		Staff	Depreciation	Support
		costs		costs	Total	Total
		(Note 4)	(note 5)		2021	2020
			F	F	F
Cost of raising funds Ancillary trading				22,195	22,195	8,888
Total cost ofgenerating	funds			22,195	22,195	8,888
Charitable expenditure Teaching Welfare		1,428,690 37,689		72,469 238	1,501,159 37,897	2,405,233 57,809
Premises		43,503	80,243	114,731	238,477	365,291
Impairment charge			848,836		848,836
School administration
and governance		128,251	7,122	54,933	190,306	460,157
Total charitable expenditure		1,638,103	936,201	242,371	2,816,675	3,288,490
Other expenditure Donation made				524,677	524,677
Total other expenditure				524,677	524 677
Total Expended		1,638,103	936,201	(260,111)	2,314,193	3,297,378
b) Governance included	in support costs				2021	2020
					F	F
Remuneration paid to auditor for audit services Other non-audit services					15,750 9,250	14,500 2,175
					25,000	16,675

Particulars	o	femployees
				The Group	The	Company
			2021	2020	2021	2020
			No	No	No	No
Administrative			7	11	5	5
Teaching Domestic			53 6	64 11	41 3	47 6
Maintenance			6	12	2	6
Classroom	assistants		32	59	9	24
			104	157	60	88
The aggregate		payroll costs ofthe above were:
				The Group	The	Company
			2021	2020	2021	2020
			F
Wages and salaries Social security costs Pension costs			2,093,062 190,007 342,726	3,411,774 294,251 538,105	1,242,575 135,766 259,762	2,053,322 206,969 394,813
Redundancy	payments			20,794
			2,625,795	4,264,924	1,638,103	2,655,104

ere:
	The	Group	The	Company
2021		2020	2021	2020
No		No	No	No

Tangible fixed assets
		Furniture
	Freehold	fixtures and	Motor	Computer
	property f	fittings	vehicles F	equipment E	Total E
Group
Cost
At 1 September 2020 Additions	8,669,461 484 456	339,247 15041	130,891 -	419,394 1,599	9,558,994 501,096
Donations made to Bedford Greenacre
Independent School Limited		(354,288)	(130,891)	(420,994)	(906,173)
At 31 August 2021	9,153,917				9,153,917
Depreciation
At 1 September 2020	2,400,099	297,407	115,502	394,653	3,207,661
Provided in the year Impairment charge	76,496 848,836	7,562	4,611	4,304	92,973 848,836
Donation disposals		(304,969)	(120,113)	(398,957)	(824,039)
At 31 August 2021	3,325,431				3,325,431
Net book value at
31 August 2021	5,828,486				5,828,486
Net book value at
31 August 2020	6,269,363	41,839	15,390	24,742	6,351,334

Tangible fixed assets	(conti	nued)
			Furniture
		Freehold	fixtures and	Motor	Computer
		property E	fittings f	vehicles E	equipment E	Total E
Company
Cost
At 1 September 2020 Additions		7,531,751 484,455	181,434	103,05'I	331,885 1,599	8,148,121 486,054
Donations made to Bedford
Greenacre Independent	School
Limited			(181,434)	(103,051)	(333,484)	(617,969)
Donations received from	St. Andrew' s
School (Bedford) Limited		3,000,000				3,000,000
At 31 August 2021		11,016,206				1 'I,016,206
Depreciation At 1 September 2020 Provided in the year Impairment charge Donation disposals		1,779,113 76,496 848,836	167,262 3,747 (171,009)	87,662 4,611 (92,273)	326,473 2,511 (328,984)	2,360,510 87,365 848,836 (592,266)
At 31 August 2021		2,704,445				2,704,445
Net book value at
31 August 2021		8,311,761				8,311,761
Net book value at
31 August 2020		5,752,638	14,172	15,389	5,412	5,787,61'I
All assets are held for charitable		purposes.

	The	Group	The	Company
2021		2020	2021	2020
No		No	No	No

The following extracts are f	rom the audited acc	ounts for th	ear ended	ugust 2021:
				Funds at	Deficit
Company	Country of incorporation	Company status	Nature of business	31 August 2021	for the year
St.Andrew's School
(Bedford) Limited—
Company No: 00866338 Charity No: 307531	England	Limited by guarantee	Provision of education		~940,255

Its results for the year are	summarise	d below:
				2021	2020
				E
Incoming resources Resources expended Donation made to Bedford Greenacre		Independent	School Ltd	1,459,220 (1,262,959) (619,791)	2,088,011 (2,074,604)
Donation made to Greenacre	Trust Ltd			516,725
Net outgoing resources				(940,255)	13,407

Debtors
		The Group	The	Company
	2021	2020	2021	2020
			F	F
Fees receivable		113,611		42,639
Prepayments Other debtors		111,296 29,792		110,306 321
		254,699		153,266

				The Group	The	Company
			2021	2020	2021	2020
				E	f	F
Trade creditors			172,568	16,593	172,568	16,593
Social security Fees received	and other in advance	taxes		89,499 201,269		54,470 158,491
Other creditors			154,071	231,336	154,071	156,632
Accruals				29,214		17,691
Amounts due to subsidiary		company				10,283
			326,639	567,911	326,639	414,160

		Designated	General	2021	2020
Group		reserve	fund F	Total f	Total E
Balance brought	forward	2,000,000	5,902,424	7,902,424	7,464,996
Transfer Net incoming resources		(2,000,000) -	2,000,000 ~130,528	~130,528	437,428
Balance carried	forward		7,771,896	7,771 896	7,902,424
		Designated	General	2021	2020
Company		Reserve E	fund f	Total F	Total E
Balance brought	forward	2,000,000	4,962,170	6,962,170	6,538,147
Transfer Net incoming resources		(2,000,000)	2,000,000 3,293 001	3 293 001	424,023
Balance carried	forward		10,255,171	10255 171	6,962,170

			The Group		The	Company
		Unrestricted	Total	Unrestricted		Total
		funds	funds	funds		funds
		2021	2021	2021		2021
			E	F		F
Tangible	fixed assets	5,828,486	5,826,776	8,311,761		8,310,051
Current	assets	2,270,049	2,270,049	2,270,049		2,270,049
Current	liabilities	(326,639)	(324,929)	(326,639)		(324,929)
Net assets		7,771,896	7,771,896	10,255,171	10,255,171
			The Group		The	Company
		Unrestricted	Total	Unrestricted		Total
		funds	funds	funds		funds
		2020	2020	2020		2020
		E	F	F		E
Tangible Current	fixed assets assets	6,351,334 2,119,001	6,351,334 2,119,001	5,787,611 1,588,718	5,787,611 1,588,718
Current	liabilities	(567,911)	(567,9'i 1)	(414,160)		(414,160)
Ntass	ts	7,902,424	7,902,424	6,962,170	6,962,170

The Group	The Group		2021		2020
			Leasehold		Leasehold
			and		and
		Other	buildings	Other	buildings
		f,	f.
Operating Within 1 Between	leases which expire: year 1 and 5years			20,584	69,600 271,567

The Company	The Company		2021 Leasehold		2020 Leasehold
			and		and
		Other	buildings	Other	buildings
			f.	E	E
Operating Within 1 Between	leases which expire: year 1 and 5years			10,292	2,000 1,167

		Greenacre	St. Andrew' s	Total	Total
		2021	2021	2021	2020
Incoming from:		E	F		E
Charitable activities
Fees receivable		2,257,838	1,378,442	3,636,280	5,097,310
Meal income		94,899	39,236	134,135	128,396
CJRS income		39,916	25,317	65,233	462,681
Donations and legacies Activities for generating funds Investments		34,819 15,571 102	8,691 116	43,510 15,571 218	48,756 21,383 19,370
Other income
Rental income		100,000		100,000
Profit on disposal ofasset Other income		60,000 4,051	7,417	60,000 11,468	31,515
Total income		2,607,196	1,459,219	4,066,415	5,809,410
Expenditure on:
Raising funds Ancillary trading		22,195		22,195	8,888
Charitable activities
Teaching Welfare		1,501,159 37,897	866,388 48,257	2,367,547 86,154	3,770,515 125,313
Premises		238,477	254,936	493,413	686,827
Impairment charge School administration	and governance	848,836 i90,306	93,378	848,836 283,684	780,439
Donations made to Bedford Greenacre Independent Ltd		(524,677)	619,791	95,114
Total expenditure		2,314,193	1,882,750	4,196,943	5,371,982
Total surplus/(deficit)	for the year	293,003	423,531

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Fixed assets
Tangible assets				6,046,169
Current assets
Debtors			477,541
Cash and cash equivalents			2,044,434
			2,521,975
Creditors: amounts	falling	due
within one year			(1,072,318)
Net current assets				1,449,657
Total assets less current		liabilities		7,495,826
Funds
Unrestricted funds
Development reserve
General fund				7,495,826
				7,495,826