2022-08-31-accounts - Dover College

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		Page
Report ofthe Trustees	1	to	14
Report ofthe Independent Auditors	15	to	18
Statement ofFinancial Activities		19
Balance Sheet		20
Cash Flow Statement		21
Notes to the Cash Flow Statement		22
Notes to the Financial Statements	23	to	37

					2022	2021
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Notes			8
INCOME AND ENDOWMENTS FROM
Donations and legacies		3	9,565	2,000	11,565	186,112
Charitable acdvittes
Fees Receivable			4,838,923		4)838)923	4,358,035
Ancillary trading income			117@69		117/69	76/48
Other trading activities		4	14418		14,518	6,400
Investment income		5	2,614		2,614	530
Other income		7	333/30		333,530	586,033
Total			5@16/19	2,000	5/18,519	5/13,358
EXPENDITURE ON
Raising funds			118,599		118,599	94,052
Charitable activities		8
Teaching			2,618,038		2,618,038	2,409,323
Welfare			704,695		704,695	618,957
Premises			839407		839,107	824/81
Support Costs and governance Grants, Awards and Prizes			813,663		813,663	800,299 38,210
Total			5,094,102		5094 102	4,785,122
NET INCOME			222rt17	2,000	224,417	428,236
Transfers between funds		19	19,281	(19481)
Net movement ln funds			241,69S	(17,281)	224,417	428,236
RECONCILIATION	OF FUNDS
Total funds brought forward			2,767,006	113470	2,880,276	2,452,040
TOTAL FUNDS CARRIED FORWARD			3,008,704	95,989	3,104,693	2,880,276

				2022	2021
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes			8
FIXEDASSETS
Tangible assets	12	2,648,770	37,270	2,686,040	2,841,840
CURRENT ASSETS
Debtors	13	358,856		358,856	268,374
Cash at bank and in hand		2,679,794	58,719	2)738,513	2,211,678
		3,038,650	58,719	3,097,369	2,480,052
CREDITORS
Amounts falling due within one year	14	(2i131,493)		(2,131,493)	(1,768,044)
NET CURRENT ASSETS		907,157	58,719	965,876	712,008
TOTAL ASSETSLESSCURRENT
LIABILITIES		3,555,927	95,989	3,651,916	3,553,848
CREDITORS
Amounts falling due afier more than one year	15	(547,223)		(547,223)	(673,572)
NET ASSETS		3,008,704	95,9$9	3,104,693	2,880,276
FUNDS	19
Unrestricted funds				3,008,704	2,767,006
Restricted funds				95,9$9	113,270
TOTAL FUNDS				3,104,693	2,880,276

				2022	2021
			Notes
Cash flows from operating	activities
Cash generated &om operations			1	540,925	380,150
Interest paid				(15,937)	(6,082)
Net cash provided by operating activities				524,988	374,068
Cash flows from iavesting	activities
Purchase oftangible fixed assets				(230,565)	(211,660)
Sale oftangle flxed assets Interest received				369,798 2,614	499,754 530
Net cash provided by investing activities				141,847	288,624
Cash flows from flnanclng	activities
Loan repayments in year				(140,000)	(300,000)
Net cash used in flnancing	activities			(140,000)	(300,000)
Change in cash and cash eqaivalents		in
the reporting period				526,835	362,692
Cash and cash equivalents	at the
beghudng ofthe reporting	period			2/11,678	1,848,986
Cash and cash equivalents	at the end	of
the reporting period				2,738,513	2/11,678

RECONCILIATION OF NKT INCOME TO NET CASH FLOW FROM	RECONCILIATION OF NKT INCOME TO NET CASH FLOW FROM	RECONCILIATION OF NKT INCOME TO NET CASH FLOW FROM	OPERATING ACTIVITIES	OPERATING ACTIVITIES
			2022	2021
			f
Net income	for the reporting	period (as per the Statement ofFinancial
Activities)			224,417	428,236
Adjustments	for:
Depreciation	charges		270,608	264,836
Profit on disposal offixed assets			(254,041)	(47,193)
Interest received			(2,614)	(530)
Interest paid			15/37	6,082
Increase in debtors			(90,482)	(67,981)
Increase/(decrease) in creditors			377,100	(203,300)
Net cash provided by operations			540g25	380,150
ANALYSIS	OF CHANGES IN NKT FUNDS
		At 1,9.21	Cash liow	At 31.8.22
				8
Net cash
Cash at bank	and in hand	2,211,678	526d135	2,738,513
		2411,678	526,835	2,738413
Debt
Debts falling	due within I year	(140,000)		(140,000)
Debts falling	due afier I year	(560,000)	140,000	(420,000)
		(700,000)	140,000	(560,000)
Total		1,511,678	666dl35	2,178,513

DONATIONS AND LEGACIES
	Unrestricted	Restricted	Total	Total
			2022	2021
			8	f
Donations-
Dover College Trust Old Dovorlan Trust	3,000	2,000	5,000	117,000 19400
Other Donations	6,565		6,565	49,612
	9,565	2,000	11/65	186,112
OTHER TRADING ACTIVITIES
			2022	2021
Turnover			14+18	6,400
Cost ofsales			(12,556)	(5,903)
Gross profit			1,962	497
Administration			(4,610)	(5,169)
Net (deficit)/surplus			(2,648)	(4,672)

					2022	2021
	Bank interest received				2,614	530
6.	INCOME FROM CHARITABLE ACTIVITIES
					2022	2021
	(a) Fees receivable consist of:
	School fees				5,758,918	5,173,524
	Less: total scholarships	and bursaries			(919,995)	(853,699)
					4,838,923	4,319,825
	Add back: Bursaries and other awards paid for by restricted			funds received trom
	Dover College Trust &Dover College Scholarship		and Prize	Fund		38,210
					4dt38,923	4,358,035
	(b)Andllary trading	Income
					2022	2021
	Letting income (educational)				61,140	39,153
	Registration fees				10/73	5,931
	School bus service				45,856	31,164
					117'69	76,248
7.	OTHER INCOME
					2022	2021
	Gain on sale oftangible	fixed assets			254,041	47,193
	Interest on overdue accounts				47	5,519
	Sundry income				79,442	35,857
	Coronavirus JRSgrant					497,464
					333,530	586,033

			Depreelat	Depreelat
(a) Total Expenditure	Staff	Costs	Other 8	-loa	Total 8	2021 f,
Cost ofgenerating funds:
Financing costs (sec note d)			59,461		59,461	55,101
Costs ofgenerating othereducational
income			41,972		41,972	27,879
			101,433		101,433	82,980
Trading costs		4,610	12,556		17,166	11,072
		4,610	113,989		118,599	94,052
Charitable activities:
Teaching Welfare	2,225,082 426,522		272,514 278,173	120,442	2,618,038 704,695	2,409,323 618,957
Premises		257,698	431,243	150,166	839,107	824,281
Support costs ofschooling (see	note c)	466,770	346,893		813,663	800,299
Counts, awards and prizes						38,210
	3,376,072		1328,823	270,608	4,975,503	4,691,070
Total resources expended	3,380,682		1,442,812	270,608	5,094,102	4,785,122
{b)Grants, awards and prizes
Fmm restricted funds:
					2022	2021
						8
Bursaries, grants and allowances						38,210
(e) Governance included ln support costs:
Remuneration paid to anditor for audit services					12~	12,300
Remuneranon paid to auditor for non audit services					2410	4,602
Other governance costs					13,633	17,077
					28,143	33,979
(d) Finance Costs
BadDebts					39,036	45,458
Bank charges and management	fees				4,488	3,561
Interest payable and similar charges					15rt37	6,082
					59,461	55,101

Total staff costs com	prised:
		2022	2020
Wages and salaries		2,823,048	2,699295
Social security costs		263,768	242,750
Pension contributions	-Teaching	254,182	245,427
Pension contributions	-Non Teaching	39,684	47,307
		3380,682	3,234,779

COMPARATIVKS FORTHE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVKS FORTHE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVKS FORTHE STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Restricted	Total
		funds	funds	funds
				f.
INCOME AND ENDOWMENTS FROM
Donations and legacies		5,095	181,017	186,112
Charitable activities
Fees Receivable		4,358,035		4,358,035
Ancillary trading income		76,248		76,248
Other trading activities		6,400		6,4N
Investment income		530		530
Other income		586,033		586,033
Total		5,032,341	181,017	5/13,358
EXPENDITURE ON
Raising funds		87,970	6,082	94,052
Charitable activities
Teaching		2,409,273	50	2,409,323
Welfare		618,957		618,957
Premises		824481		824~1
Support Costs and governance Grants, Awards and Prizes		798,299	2,000 38,210	800,299 38,210
Total		4,738,780	46,342	4,785,122
NET INCOME		293,561	134,675	428,236
Transfers between fends		132,705	(132,705)
Net movement in funds		426,266	1,970	428,236
RECONCILIATION	OF FUNDS
Total funds brought forward		2/40, 740	111,300	2,452,040
TOTAL FUNDS CARRIED FORWARD		2,767,006	113,270	2,880,276

	2022	2021
Trade debtors - school fees	245,209	102,049
Other debtors	27,129	139,680
Prepayments	86,518	26,645
	358,856	268,374

CREDITORS: AMOUNTS PALLING DUE WITH	IN ONE YEAR
	2022	2021
	g
Fees received in advance	1,441@74	1,057,543
Trade creditors	114/92	91,769
Taxation and social security	63,881	63,722
Other creditors	511,646	555,010
	2,131,493	1,768,044
CREDITORS: AMOUNTS PALLING DUE AFTER MORE THAN ONK YEAR
	2022	2021
Other creditors	547,223	673,572

An analysis ofthe maturity ofloans is given belovr.
	2022	2021
	g
Amounts falling due within one year on demand:
Other loans	140,000	140,000
Amounts falling between one and two years:
Other loans - 1-2 years	140,000	140,004
Amounts falling due between two and five years:
Other loans -2-5 years	280,000	419,996

	2022	2021
		f,
Within one year	83+70	90,063
Between one and five years	40,997	124,567
	124467	214,630

2022	2021
	f.
560,000	700,000

MOVEMENT IN FUNDS
		Net	Transfers
		movement	between	At
	At 1.9.21	in fimds	funds	31.8.22
Unrestricted funds
General fund	2,767,006	222,417	19/81	3,008,704
Restricted funds
Leamington lecture theatre	3,073		(3,073)
Lecture theatre seating	8,003		(1/33)	6,670
Music school	40,800		{10400)	30,600
Other restricted funds	36,974	2,000	{4,675)	34,299
Cobb Centre	24,420			24,420
	113,270	2,000	{19/81)	95,989
TOTAL FUNDS	2,880,276	224,417		3,104,693
Net movement in funds, included	in the above are as follows:
		incoming	Resources	Movement
		resources	expended	in funds
		f,
Unrestricted funds
General fund		5/ 16,519	(5,094,102)	222,417
Restricted funds
Other restricted funds		2,000		2,000
TOTAL FUNDS		5/18,519	(5,094302)	224,417

			Net	Transfers
			movement	between	At
		At 1.9.20	in funds	funds	31.8.21
Unrestricted	funds
General fund		2,340,740	293,561	132,705	2,767,006
Restricted funds
Fives court		1,100		(1,100)
Leamington	lecture theatre	6,145		(3,072)	3,073
Lecture theatre seating		9336		(1333)	8,003
Music school		51,000		(10,200)	40,800
Other restricted funds		19799	134,675	(117,000)	36,974
Cobb Centre		24,420			24,420
		111,300	134,675	(132,705)	113,270
TOTAL FUNDS		2,452,040	428,236		2,880,276

	Incoming	Resources	Movement
	resources	expended	in funds
			f,
Unrestricted funds
General fund	5,032,341	(4,738,780)	293,561
Restricted funds
Other restricted funds	181,017	(46,342)	134,675
TOTAL FUNDS	5413,358	(4,785,122)	428,236

				Net	Transfers
				movement	between	At
			At 1.9.20	in funds	funds	31.8.22
				f,
Unrestricted	funds
General fund			2,340,740	515,978	151,986	3,008,704
Restricted funds
Fives court			1,100		(1,100)
Leamington	lecture theatre		6,145		(6,145)
Lecture thean'e		seating	9,336		(2,666)	6,670
Music school			51,000		(20,400)	30,600
Other restricted		funds	19499	136,675	(121,675)	34,299
Cobb Centre			24,420			24,420
			111,300	136,675	(151,986)	95,989
TOTAL FUNDS			2,452,040	652,653		3,104,693

	Incoming	Resources	Movement
	resources	expended	in funds
Unrestrkted funds
General fund	10,348,860	(9,832,882)	515,978
Restrkted funds
Other restricted funds	183,017	(46/42)	136,675
TOTAL FUNDS	10,531,877	(9,879,224)	652,653

				Net Current
				Assets I
Net assets belong	to the various	funds as		(CurrentLiab)	Long-term
follows:			Fixed Assets	ilities	Liabilities	Fund Balance
			f
Restricted funds			377.70	58,719		95,989
Unrestricted funds
Designated funds:
Dover College Foundation
Other unrestricted	funds:
General reserve			2,648,770	907,157	(547/23)	3,008,704
			2,686,040	965,876	(547,223)	3,105,776

				2022	2021
Carrying	amount	of	financial assets
Debt instruments		measured at amortised cost		272,338	241,729
Carrying	amount	of	financial liabilities
Measured	at amortised		cost	1,237/42	1,382,573

						31AUGUST	2022	31AUGUST	2021
						f	f	f	f
INCOIVIE
Fees Receivable		Day fees					2,597,417		2,232,848
		Flexible Boarding			Fees		107,716		288,878
		Full Boarders					2,275,044		1,959,921
		Junior	Department		Fees		678,170		549,765
		Other	Fees				100,571		142,112
							5,758,918		5,173,524
Less:		Scholarships		and	Bursaries		(919,995)		(815,489)
Net Fees Receivable							4,838,923		4,358,035
2~6i
Letting Income						6,317		537
Tuckshop						8,201		5,863
							14,518		6,400
Other Income:
Letting Income (Educational)						61,140		39,153
Interest on Overdue		Accounts				47		5,519
Registration Fees						10,373		5,931
Write offold credit		balances						35,720
Sundry Income						79,442		137
Investment Income						2,614		530
School Bus Service						45,856		31,164
Government Grants								497,464
Donations						11,565		186,112
Gain on sale oftangible fixed assets						254,041		47,193
							465,078		848,923
							5,318,519		5,213,358
LESS:EXPENDITURE
Capital Expenditure
Teaching &Academic Costs						2,618,038		2,409,323
Welfare						704,695		618,957
Premises						839,107		824,281
Management &School Administration						813,663		800,299
Finance						59,461		55,101
Trading Expenditure						17,166		11,072
School Bus Service		Costs				41,972		27,879
Letting Expenditure		(Educational)
Bursadies financed		by restricted	funds					38,210
							5,094,102		4,785,122
							224,417		428,236
Realised Gains on	Investments
							224,417		428,236
Unrealised Gains	on Investment		Assets
NET SURPLUS DEFICIT FOR THE YEAR							22		623236

						2022	2021
							E
TEACHING AND	ACADEMIC		COSTS
Salaries						2,225,082	2,141,101
Academic Support Salaries
School Services						128,651	79,164
Academic Departmental		Costs				79,293	39,525
Sports and Activities						20,211	17,933
Computer lease	costs					44,359	22,280
Depreciation						12D442	109320
						2618D38	2409323
WELFARE
House and School Running			Costs			191,596	211,830
Medical Centre						58,286	59,529
Catering						454,813	347,598
						7D4 695	618957
PREMI5ES
Maintenance of	Buildings					327,583	310,562
Maintenance of	Grounds					149,053	116,947
Rates and Insurance						92,163	150,577
Light and Heat						120,142	90,679
Depredation						150166	155,516
						839107	824 281
MANAGEMENT	AND SCHOOL ADMINISTRATION
Headmasters office						166,351	120,103
Bursary and Administration						360,003	382,050
Audit and Accountancy		fees				14,510	16,902
Other School Overheads		{incPublicity			costs)	152,913	206,458
Agency Fees						119,886	74,786
						813663	800 299
FINANCE
Bad debts						39,036	45,458
Bank Charges and Management				Fees		4,488	3,561
Loan Interest						15,937	6,082
HMRC Interest
						59461	55 101
TRADING EXPENDITURE
Letting Expenses	{'Vatable')					5,539
Tuckshop Costs						7,017	5,903
Proportion ofStaff Salaries			attributable		to "trading activities"	4,610	5,169
						17166	11072

			31AUGU5T 2022	31AUGU5T 2022	31AUGUST 2021	31AUGUST 2021
			E	E	E	E
FIXEDASSET5
Freehold Land &Buildings				1,076,283		1,146,283
Freehold Improvements				1,280,505		1,360,628
Furniture, Equipment &Vehicles				329,252		334,929
Depreciation to date
				2,686,040		2,841,840
~RRENT85587
Stock
Trade Debtors - School Fees			245,209		102,049
Prepayments			86,518		26,645
Sundry Debtors			27,129		139,680
Cash at Bank and In hand		2	00,510		2,211,678
		3	097369		2 400 052
C~REDITDR
Amounts falling due within	one year:
Fees Received In Advance -	Overseas Students	1,441,374			1,057,543
Trade Creditors			114,592		91,769
PAYE/NIC Creditor			63,881		63,722
Deferred Income-Final Term Deposits			186,262		134,648
Other Creditors and Accruals			185,384		280,362
Corona Business Interruption	Loan		140,000		140000
		2,131,493			1,768,044
NET CURRE ASSETS UABIUTIES				965,876		12M8
TOTAL ASSETS LESSCURRENT
LIABILITIES				3,651,916		3,553,848
CREDITORS
Amounts falling due after more than one year
Loan from Dover College Trust
Corona Business Interruption Loan Deferred Income-Final Term Deposits				(420,000) ~12,220		(560,000) ~120572
				3 104690		28002	6
FUND5
Balance brought Forward				2,880,276		2,452,040
Surplus / (Deficit) for Year				224 417		428,236
				3104093		2 850276