2020-08-31-accounts - Bethany School

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			Page
Governors' Report (Incorporating	the Strategic Report)	1	to	9
Report ofthe Independent Auditors		10	to	12
Statement ofFinancial Activities			13
Balance Sheet			14
Cash Flow Statement			15
Notes to the Cash Flow Statement			16
Notes to the Financial Statements		17	to	29

FOR THE YEAR END	ED 3	1 A	UG	UST 20	20
								2020	2019
					Unrestdicted	Designated	Endowment	Total	Total
				Notes	fund f	fundf	funds f	funds f	funds
INCOME AND ENDOWMENTS
FROM
Donations and legacies				2	4,464	87,778		92,242	19,899
Charitable activities				3	6,472,104		(39,819)	6,432,285	6,659,466
Other trading activities				4	284,466			284,466	183,144
Investment income				5	7,285		26,348	33,633	54,001
Other income				6	1,500			1,500
Total					6,769,819	87,778	(13,471)	6,844,%6.	. . 6,916,510
EXPENDITURE ON
Raising funds				7	5,122		5,088	10,210	14,192
Charitable activities				7	6,644,408		19,623	6,664,031	6,607,855
Total					6,649,530		24,711	6,674,241	6,622,047
Net realised gains/(losses)		on		15			35,381	35,381	(7,599)
investments
Net unrealised gains/(losses)			on	15			(2,940)	(2,940)	17,267
investments
NET INCOME/(EXPENDITURE) s f s d				120,289 ~0 00tl)		87,778 100,000	(5,741)	202,326	304,131
Net movement in funds					20,289	187,778	(5,741)	202,326	304,131
RECONCILIATION OF FUNDS
Total funds brought	forward				12,504,608	150,000	2,622,906	15,277,514	14,973,383
TOTAL FUNDS CARRIED
FORWARD					12,524,897	337,778	2,617,165	15,479,840	15,277,514

BETHANY SCHOOL
BALANCE SHEET
31 AUGUST 2020
		2020	2019
	Notes
FIXEDASSETS
Tangible assets	13	12,886,035	12,955,332
Investments	15	1,210,259	1,085,794
Investment property	14	600,000	600,000
		14,696,294	14,641,126
CURRENT ASSETS
Stocks	16	11,059	30,490
Debtors	17	217,814	221,961
Cash at bank	18	3,190,838	3,405,344
		3,419,711	3,657,795
CREDITORS
Amounts falhng due within one year	19	(1,697,789)	(1,922,853)
NET CURRENT ASSETS		1,721,921	1,734,942
TOTAL ASSETS LESSCURRENT LIABILITIES		16,418,216	16,376,068
CREDITORS
Amounts falling due after more than one year	21	(938,376)	(1,098,554)
NET ASSETS		15,479,840	15,277,514
FUNDS
Unrestricted funds		12,524,897	12,504,608
Designated funds	24	337,778	150,000
Endowment funds	25	2,617,165	2,622,906
TOTAL FUNDS		15,479,840	15,277,514

FOR THE YEAR ENDED 31AUGUST 2	020
	Notes	2020 f	2019 f
Cash flows from operating activities
Cash generated from operations		376,957	448,668
Net cash provided by operating activities		376,957	448,668
Cash flows from investing activities
Purchase oftangible fixed assets	13	(336,212)	(127,159)
Purchase of fixed asset investments	15	(1,337,404)	(974,622)
Sale oftangible fixed assets		1,500
Sale offixed asset investments	15	1,245,380	999,794
Interest received		7,285	2,998
Dividends received		26,348	32,303
Net cash used in investing actwities		~393,103)	~66,686)
Cash flows from financing activities
Income attributable to endowment	25	(13,471)	50,027
Expenditure attributable to endowment Repayment of long term bank loan	25	(24,711) ~160,178)	(25,652) ~180,000)
Net cash (used in)/provided by financing	activities	~198,360)	~155,625)
Change in cash and cash equivalents	in
the reporting period		(214,506)	226,357
Cash and cash equivalents at the
beginning ofthe reporting period		3,405,344	3,178,987
Cash and cash equivalents at the end	of
the reporting period		3,190,838	3,405,344

NOT FOR	ES TO THE CASH FLOW STATEMENT THE YEAR ENDED 31 AUGUST 2020	ES TO THE CASH FLOW STATEMENT THE YEAR ENDED 31 AUGUST 2020
	RECONCILIATION OF NET INCOME TO		NET CASH FLOW	FROM OPERATING	ACTIVITIES
					2020f	2019 8
	Net income for the	reporting period (as	per the Statement	of Financial
	Activities)				202,326	304,131
	Adjustments for:
	Depreciation charges				405,507	371,151
	Gain on investments				(32,441)	(9,668)
	Prost on disposal of	fixed assets			(1,500)
	Interest received				(7,285)	(2,998)
	Dividends received				(26,348)	(32,303)
	Income attributable to endowment				13,471	(50,027)
	Expenditure attributable to endowment				24,711	25,651
	Decrease in stocks				19,431
	Decrease/ (increase) Decrease in creditors	in debtors			4,147 ~225,066)	(70,122) ~87,14
	Net cash provided	by operations			376,957	448,668
2.	ANALYSIS OF CASH AND CASH EQUIVALENTS
					2020	2019
	Cash in hand				3,190,838	3,405,344
	Total cash and cash equivalents				3,190,838	3,405,344

						2020	2019
			Unrestncted	Designated	Endowment	Total	Total
			funds 5	funds f	funds f	funds	funds f
School fees			7,463,217			7,463,217	7,407,147
Registration		fees	12,869			12,869	14,799
Bursaries	and
scholarships			(910,968)		(39,819)	(950,787)	(888,963)
Hardship	discount		(181,437)			(181,437)
Transport	income		88,423			88,423	126,483
			6472 104		39,819	6,432,285	6,659,466

OTHER TRADING ACTIVITIE	S
				2020	2019
	Unrestricted	Designated	Endowment	Total	Total
	funds	funds f	funds E	funds 5	funds f
Rental income	1,745			1,745	183,144
Job retention scheme grant	282,721			282,721
	284,466			284,466	183,144
INVESTMENT INCOME
				2020	2019
	Unrestncted	Designated	Endowment	Total	Total
	funds 6	funds f	funds	funds f	funds f
Income from listed			26,348	26,348	32,303
investments
Income from investment
property					18,700
Interest received	7,285			7,285	2,998
	7,285		26 348	33,633	54,001

								2020	2019
					Unrestricted	Designated	Endowment	Total	Total
					funds	funds	funds	funds	funds
						f	f	6	6
Gain	on	sale	offixed	assets	1,500			1,500
					1,500			1,500

EXPENDITURE
	Staff	Depreciation	Other	Total	Total
	Costs		Costs	2020	2019
Raising funds
Investment management			5,088	5,088	6,028
fees
Fundraising costs			5,122	5,122	8,164
Total costs of
raising funds			10,210	10,210	14,192
Charitable activities
Education
Teaching costs	2,616,901	19,623	296,787	2,933,311	2,664,972
Welfare costs	241,283		431,628	672,911	815,768
Premises costs	473,617	385,884	1,146,930	2,006,431	2,146,869
Support costs	526,439		469,486	995,925	958,386
Finance costs			24,996	24,996	1,475
Governance costs			30,457	30,457	20,385
Total charitable
activities	3,858,240	405,507	2,400,284	6,664,031	6,607,855
Total expenditure
	3,858,240	405,507	2,410,494	6,674,241	6,622,047

SUPPORT COST	S
		2020	2019
		f	f
Support staff costs		526,439	535,914
Marketing costs		138,951	80,804
Computer costs		8,762	25,538
Post &stationery		41,492	49,308
Staff welfare &other	staff costs	53,440	30,466
Staff recruitment		18,693	40,285
Telephone		8,321	4,954
Overseas recruitment	&commission	84,485	91,924
Professional fees		56,833	28,043
Travel &subsistence		5,619	4,174
Subscriptions		18,574	14,527
Miscellaneous costs		34,316	52,449
TOTAL		995,925	958,386

		2020	2019
		6	F
Wages	and salanes	3,033,206	2,957,249
Social	security costs	303,371	288,137
Other	pension costs	521,663	384,598
		3,858,240	3,629,984

The average monthly number ofemployees during the y	ear was as follows:
	2020	2019
Teaching	54	55
Administration	25	19
Welfare and premises	36	38
	115	112

		2020	2019
F60,000	- F70,000	2	1
680,001	—F90,000		1
690,001	- 6100,000

COMPARATIVES FO	R TH	E	ST	ATEMENT OF	FINANCIAL ACTI	VITIES
					Unrestricted	Designated	Endowment	Total
					fund f	fund	funds	fundsf
INCOME AND ENDOWMENTS				FROM
Donations and legacies					19,899			19,899
Charitable activities					6,641,742		17,724	6,659,466
Other trading activities					183,144			183,144
Investment income					21 698		32303	54001
Total Income					6,866,483		50,027	6,916,510
EXPENDITURE ON
Raising funds					8,164		6,028	14,192
Charitable activities					6,588,232		19,623	6,607,855
Total Expenditure					6,596,396		25,651	6,622,047
Net realised gains/(losses)		on	investments				(7,599)	(7,599)
Net unrealised gains/(losses)			on	investments			17267	17,267
NET INCOME					270,087		34,044	304,131
RECONCILIATION OF FUNDS
Total funds brought	forward				12,234,521	150,000	2,588,862	14,973,383
TOTAL FUNDS CARRIED		FORWARD			12,504,608	150,000	2,622,906	15,277,514

TANGIBLE FIXEDASSET	S
		Fixtures		Assets
	Land and	and	Motor	under
	buildings	fittings	vehicles	construction	Totals
		5	5		5
COST
At 1 September 2019	16,478,070	362,469	37,158		16,877,697
Additions Disposals	30,841	227,787	35,650 ~113s	41,934	336,212
At 31 August 2020	16,508,911	590,256	61,463	41,934	17,202,564
DEPRECIATION
At 1 September 2019 Charge for year Eliminated on disposal	3,608,671 340,396	280,712 56,363	32,982 8,750 ~3tti		3,922,365 405,509
At 31 August 2020	3,949,067	337,075	30,387		4316529
NET BOOK VALUE
At 31 August 2020	12,559,844	253,181	31,076	41,934	12,886,035
At 31 August 2019	12,869,399	81,757	4,176		12,955,332

				f
Fair	value	at	1 September 2019	600,000
Fair	value	at	31 August 2020	600,000

FIXEDASSET INVESTMENTS
	Managed
	investments
NIARKET VALUE
At 1 September 2019	1,085,794
Acquisitions at cost	1,337,404
Disposals	(1,245,380)
Change in value during the year	32,441
At 31 August 2020	1,210,259
NET BOOK VALUE
At 31 August 2020	1,210,259
At 31 August 2019	1,085,794
Historical cost.
At 31 August 2020	1,210,224
At 31 August 2019	961,445

16.	STOCKS
	Stocks

1,210,259 —100'/o
2020	2019
f	6
11,059	30,490

DEBTORS:AMOUNTS FALLING DUE WITHIN O	NE YEAR
	2020	2019
Trade debtors	132,494	132,483
Accrued income	79,920
Prepayments	5,400	89,478
	217,814	221,961

					Designated	Endowment
			General	fund f	fund f	fund f
Operational cash			2,272,710		337,778	536,651
Managed investment	cash					6,720
Total			2,272,710		337,778	543,371
					2020	2019
			Bursary	fund f	Total funds	Total funds
Operational cash			36,979		3,184,118	3,318,988
Managed investment	cash				6,720	86,356
Total			38,979		3 99838	3 98 3 4
CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
					2020 f	2019 f
Bank loans and overdrafts		(see note 21)			180,000	180,000
Trade creditors					105,121	155,247
Soaal secudity and	other taxes				76,849	74,292
Fees in advance					655,235	994,607
Accruals and other	creditors				680,584	518,707
					1,697,789	1,922,853

21.	CREDITORS: AMOUNTS	CREDITORS: AMOUNTS	FALLING DUE AFTER MORE THAN ONE YEAR	FALLING DUE AFTER MORE THAN ONE YEAR
					2020	2019
					6	8
	Bank loans	(see note 22)			938,376	1,098,554
22.	LOANS
	An analysis	ofthe maturity	of	loans is given below
					2020	2019
						8
	Amounts falling due within		one year on demand.
	Bankloans				180,000	180,000
	Amounts falhng between Bank loans -1-2 years		one	and two yeartni	180,000	180,000
	Amounts falling due between			two and five years
	Bank loans	- 2-5 years			540,000	540,000
	Amounts falling due in more than five years:
	Repayable	by instalments:
	Bank loans	more 5years			218,376	378,554

The total future minimum lease payments under non-cance	llable operating leases are as follows:
	Other operating	leases
	2020	2019
	5
Less than one year	11,861	15,649
Between two and five years	13,436	23,377

ds by th	e Governors f	or specifi	c purposes
			Balance at	Income	Expenditure	Transfers	Balance at
		1	September				31August
			2019				2020
			8				8
Spedal	prolects		150,000				150,000
Hardship	fund			87,778		100,000	187,778
			150,000	87,778		100,000	337,778

		Balance at	Income	Expenditure	Transfers	Investment	Balance at 31
		1 September				Gains/	August 2020
		2019 f			f	Losses f
Permanent
endowments
Jane Tomkinson		1,347					1,347
Expendable
endowments
CJ Endowment	fund	2,621,559	(13,471)	(24,711)		32,441	2,615,818
		2,622,906	13,471	24,711		32,441	2,617,165

				2020	2019
	Unrestricted	Designated	Endowment	Total	Total
	fundf	fundf	funds	funds f	funds f
Fixed assets	12,059,481		826,554	12,886,035	12,955,332
Investments	600,000		1,210,259	1,810,259	1,685,794
Current assets	2,501,583	337,778	580,352	3,419,713	3,657,794
Current habilities Long term habilities	(1,697,791) ~938,3 67			(1,697,791) ~9383767	(1,922,853) ~7998 9
	12,524,897	337,778	2,617,165	15,479,840	15,277,513