|||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|
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||||||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|
##
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##
|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||
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