| CONTENTS |
|
|
|
Page |
|
| Legal and Administrative Information |
I |
— 2 |
| Governors’ Report |
3— 10 |
|
| Statement of Governors’ Responsibilities |
|
11 |
| Independent Auditors Report |
12 |
— 14 |
| Consolidated Statement of Financial Activities |
|
15 |
| Balance Sheets |
|
16 |
| Consolidated Statement of Cash Flow |
|
17 |
| Notes to the Financial Statements |
18— 33 |
|
| REGISTERED OFFICE AND PRINCIPAL ADDRESS |
REGISTERED OFFICE AND PRINCIPAL ADDRESS |
|
Pangbourne College |
|
Pangbourne |
|
Berkshire |
|
RG8 8LA |
| ADVISERS |
|
| Bankers |
National Westminster Bank Plc |
|
Corporate Business Centre |
|
Abbey Gardens |
|
4 Abbey Street |
|
Reading |
|
Berkshire |
|
RG1 3BA |
| Auditors |
Crowe U.K. LLP |
|
Aquis House |
|
49-51 Blagrave Street |
|
Reading |
|
Berkshire |
|
RG1 1PL |
| Insurance Brokers |
Marsh |
|
Merlin House |
|
Commerce Park |
|
Brunel Road |
|
Theale |
|
Reading |
|
RG7 4BY |
Crowe A
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PANGBOURNE COLLEGE LIMITED (CONTINUED)
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.orq.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of report
This report is made solely to the Charitable Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company and the Company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Janette Joyce Senior Statutory Auditor
For and on behalf of Crowe U.K. LLP Statutory Auditor Aquis House 49-51 Blagrave Street Reading RG11PL
4 December 2020
Page 14
|
Notes |
Unrestricted |
Restricted |
Total |
Total |
|
|
Funds |
Funds |
2020 |
2019 |
|
|
|
|
£ |
£ |
| INCOME AND ENDOWMENTS FROM: |
|
|
|
|
|
| Income from Charitable Activities |
|
|
|
|
|
| School fees receivable |
5 |
9,752,920 |
- |
9,752,920 |
10,293,210 |
| Ancillary trading income |
6 |
415,941 |
- |
415,941 |
416,313 |
| Other Trading Activities |
|
|
|
|
|
| Trading income |
4 |
116,078 |
- |
116,078 |
439,075 |
| Rents and lettings |
|
68,736 |
- |
68,736 |
88,564 |
| Profit on sale offixed assets |
|
13,921 |
- |
13,921 |
16,481 |
| Donations and grants |
|
|
|
|
|
| Other |
|
81,595 |
22,132 |
103,727 |
158,062 |
| Coronavirus Job Retention Scheme |
|
|
|
|
|
| government grant |
|
386,830 |
|
386,830 |
|
| Total income |
|
10,836,021 |
22,132 |
10,858,153 |
11,411,705 |
| EXPENDITURE ON: |
|
|
|
|
|
| Expenditure on Charitable Activities |
|
|
|
|
|
| Teaching costs |
|
5,511,566 |
23,064 |
5,534,630 |
5,348,612 |
| Welfare costs |
|
1,309,064 |
- |
1,309,064 |
1,664,053 |
| Premisescosts |
|
1,254,810 |
- |
1,254,810 |
2,199,228 |
| Supportcosts |
|
1,663,412 |
- |
1,663,412 |
1,836,576 |
|
|
9,738,852 |
23,064 |
9,761,916 |
11,048,469 |
| Expenditure on Raising Funds |
|
|
|
|
|
| Trading expenditure |
4 |
137,189 |
- |
137,189 |
289,331 |
| Finance costs |
|
95,812 |
|
95,812 |
72,928 |
| Total expenditure |
7 |
9,971,853 |
23,064 |
9,994,917 |
11,410,728 |
| Net income(expenditure) |
8 |
864,168 |
(932) |
863,236 |
977 |
| Balances brought forward |
|
|
|
|
|
| At3lAugust 2019 |
|
10,353,665 |
181,696 |
10,535,361 |
10,534384 |
| Balances carried forward |
|
|
|
|
|
| At31 August2020 |
|
11.217.833 |
180,764 |
11.398.597 |
10.535,361 |
|
|
College |
College |
Group |
Group |
|
|
2020 |
2019 |
2020 |
2019 |
|
Notes |
£ |
£ |
£ |
£ |
| FIXED ASSETS |
|
|
|
|
|
| Tangible fixed assets |
10 |
13,555,403 |
14,006,310 |
13,555,403 |
14,006,310 |
| CURRENT ASSETS |
|
|
|
|
|
| Stock |
|
16,235 |
16,299 |
194,244 |
157,967 |
| Debtors |
11 |
486,147 |
515,563 |
285,895 |
516,622 |
| Cash at bank and in hand |
|
2,369,303 |
1,550,542 |
2,435,406 |
1,660,631 |
|
|
2,871,685 |
2,082,404 |
2,915,545 |
2,335,220 |
| CREDITORS: Amounts falling due |
|
|
|
|
|
| within one year |
12 |
(2,768,535) |
(3,196,954) |
(2,815,084) |
(3,299,008) |
| NET CURRENT |
|
|
|
|
|
| ASSETS/(LIABILITIES) |
|
103,150 |
(1,114,550) |
100,461 |
(963,788) |
| TOTAL ASSETS LESS CURRENT |
|
|
|
|
|
| LIABILITIES |
|
13,658,553 |
12,891,760 |
13,655,864 |
13,042,522 |
| CREDITORS: Amounts falling due |
|
|
|
|
|
| after more than one year |
13 |
(2,138,859) |
(2,365,093) |
(2,138,859) |
(2,365,093) |
| Pension Scheme Deficit |
18 |
(115,908) |
(139,568) |
(115,908) |
(139,568) |
| NET ASSETS |
|
11,403,786 |
10.387.099 |
11,401,097 |
10,537,861 |
| CAPITAL AND RESERVES |
|
|
|
|
|
| Share capital |
17 |
2,500 |
2,500 |
2,500 |
2,500 |
| Restricted funds |
22 |
180,764 |
181,696 |
180,764 |
181,696 |
| General funds |
|
11,220,522 |
10,202,903 |
11,217,833 |
10,353,665 |
| SHAREHOLDERS’ FUNDS |
23 |
11,403,786 |
10,387.099 |
11,401,097 |
10,537.861 |
|
|
2020 |
2019 |
|
|
£ |
£ |
| Cash flows from operating activities |
|
|
|
| Net movement in funds |
|
863,236 |
977 |
| Depreciation |
|
486,461 |
506,892 |
| Decrease! (increase) in debtors |
|
230,727 |
(210,818) |
| (Decrease)!increase in creditors |
|
(391,763) |
44,609 |
| (Increase) in stocks |
|
(36,277) |
(16,718) |
| (Profit)!Ioss on disposal offixed assets |
|
(14,000) |
(16,480) |
| (Decrease) in pension liability |
|
(23,660) |
(28,345) |
| Interest paid |
|
27,317 |
37,876 |
| Cash provided byl (used in) operating activities |
|
1,142,041 |
317,993 |
| Cash flows from investing activities |
|
|
|
| Purchase oftangible fixed assets |
|
(35,554) |
(338,786) |
| Receipts from sale offixed assets |
|
14,000 |
27,120 |
| Cash (used in) investing activities |
|
(21,554) |
(311,666) |
| Cash flows from financing activities |
|
|
|
| Decrease in borrowing |
|
(130,207) |
(202,001) |
| Interest paid |
|
(27,317) |
(37,876) |
| Cash (used in) by financing activities |
|
(157,524) |
(239,877) |
| Cash flows from advance fee scheme |
|
|
|
| Advance fees received |
|
117,425 |
175,855 |
| Discounts allocated |
|
11,975 |
24,796 |
| Advance fees utilised |
|
(317,588) |
(552,149) |
| Cash (used in) advance fees |
|
(188,188) |
(351,498) |
| Change in cash and cash equivalents in the year |
24 |
774,775 |
(585,048) |
| Cash and cash equivalents at the beginning of the year |
|
1,660,631 |
2,245,679 |
| Total cash and cash equivalents at the end ofthe year |
|
2.435.406 |
1.660.631 |
| Cash at bank and in hand |
|
2,435,406 |
1,660,631 |
| from its audited accounts were:- |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Turnover |
116,078 |
439,075 |
| Cost ofsales |
(123,586) |
(269,578) |
| Gross profit |
(7,508) |
169,497 |
| Administrative expenses |
(17,289) |
(39,980) |
| Operating (loss)/profit |
(24,797) |
129,517 |
| Interest payable and similar charges |
(914) |
(1,773) |
| (Loss)/Profit on activities before taxation |
(25,711) |
127,744 |
| Taxation |
|
|
| (Loss)! profit after tax |
(25.711) |
127.744 |
| Retained earnings at the beginning ofthe year |
150,766 |
68,318 |
| (Loss)!Profit forthe financial year |
(25,711) |
127,744 |
| Gift aid donation payment for prior year |
(127,744) |
(45,296) |
| Retained earnings at the end ofthe year |
(2,689) |
150,766 |
| FEES RECEIVABLE |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Fees receivable consist of: |
|
|
| Gross fees (including advance fees utilised of £317,588 |
|
|
| (2019: £552,149)) |
11,272,730 |
12,050,143 |
| Less total bursaries, grants and allowances |
(1,519,810) |
(1,756,933) |
|
9.752,920 |
10,293,210 |
| ANCILLARY TRADING INCOME |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Insurance commission |
8,909 |
19,496 |
| Registration fees |
32,368 |
27,212 |
| Special learning |
59,349 |
55,078 |
| English as a foreign language |
3,369 |
16,823 |
| Fees in lieu |
4,711 |
20,212 |
| Exams |
60,399 |
59,253 |
| Music |
91,204 |
123,804 |
| Forfeited deposits |
86,215 |
- |
| Trips |
56,812 |
94,435 |
| Miscellaneous income |
12,605 |
- |
|
415,941 |
416,313 |
|
Staff |
|
Depre- |
Total |
Total |
|
Costs |
Other |
ciation |
2020 |
2019 |
|
£ |
£ |
£ |
£ |
£ |
| Charitable activities |
|
|
|
|
|
| Teaching costs |
4,755,532 |
495,004 |
284,094 |
5,534,630 |
5,348,612 |
| Welfare costs |
616,336 |
625,237 |
67,491 |
1,309,064 |
1,664,053 |
| Premises costs |
330,561 |
870,528 |
53,721 |
1,254,810 |
2,199,228 |
| Support costs |
802,754 |
779,503 |
81,155 |
1,663,412 |
1,836,576 |
|
6,505,183 |
2,770,272 |
486,461 |
9,761,916 |
11,048,469 |
| Cost of generating funds |
|
|
|
|
|
| Trading expenditure |
60,349 |
76,840 |
- |
137,189 |
289,331 |
| Finance costs |
|
95,812 |
|
95,812 |
72,928 |
|
60,349 |
172,652 |
|
233,001 |
362,259 |
| Total |
6,565,532 |
2,942,924 |
486.461 |
9,994,917 |
11,410,728 |
|
Staff |
|
Depre- |
Total |
Total |
|
Costs |
Other |
Ciation |
2019 |
2018 |
|
£ |
£ |
£ |
£ |
£ |
| Charitable activities |
|
|
|
|
|
| Teaching costs |
4,463,392 |
608,613 |
276,607 |
5,348,612 |
5,249,882 |
| Welfare costs |
597,560 |
980,435 |
86,058 |
1,664,053 |
1,564,422 |
| Premises costs |
305,013 |
1,840,385 |
53,830 |
2,199,228 |
2,516,915 |
| Support costs |
869,532 |
876,647 |
90,397 |
1,836,576 |
1,762,423 |
|
6,235,497 |
4,306,080 |
506,892 |
11,048,469 |
11,093,642 |
| Cost ofgenerating funds |
|
|
|
|
|
| Trading expenditure |
88,275 |
201,056 |
- |
289,331 |
289,632 |
| Finance costs |
- |
72,928 |
|
72,928 |
75,665 |
|
|
362,259 |
|
362,259 |
365,297 |
| Total |
6,323,772 |
4,580,064 |
506,892 |
11,410,728 |
11,458,939 |
| NET INCOME |
|
|
|
|
|
|
|
|
|
2020 |
2019 |
|
|
|
|
£ |
£ |
| This is stated after charging/(crediting): |
|
|
|
|
|
| Depreciation |
|
|
|
486,461 |
506,892 |
| (Surplus)/loss on sale |
of fixed assets |
|
|
(14,000) |
(16,480) |
| Auditors remuneration |
— (Parent) |
|
|
14,375 |
13,950 |
| Auditors remuneration |
— (Subsidiary) |
|
|
2,250 |
2,180 |
| Auditors remuneration |
— non audit services |
|
|
3,500 |
3,870 |
| Operating lease rentals |
|
|
|
161,684 |
123,820 |
| STAFF COSTS |
|
|
|
|
|
|
|
|
|
2020 |
2019 |
|
|
|
|
£ |
£ |
| Salaries and wages |
|
|
|
5,093,087 |
5,113,991 |
| Social securitycosts |
|
|
|
492,667 |
502,981 |
| Pension costs |
|
|
|
979,778 |
706,800 |
|
|
|
|
6,565,532 |
6,323.772 |
| Limited) were: |
|
|
|
2020 |
2019 |
|
No. |
No. |
| Teaching |
72 |
77 |
| Premises |
9 |
8 |
| Support and welfare |
47 |
48 |
|
128 |
133 |
|
|
|
Assets |
Furniture |
|
|
|
|
|
Freehold |
|
under |
& |
|
Motor |
|
|
|
property |
construction |
|
equipment |
vehicles |
|
Boats |
Total |
|
£ |
|
|
£ |
|
£ |
£ |
£ |
| COST |
|
|
|
|
|
|
|
|
| At 1 September2019 |
18,444,889 |
|
52,498 |
2,395,291 |
|
46,717 |
342,696 |
21,282,091 |
| Additions |
- |
|
- |
- |
|
- |
35,554 |
35,554 |
| Transfers |
- |
|
- |
|
|
|
- |
|
| Disposals |
- |
|
|
|
|
|
|
|
| At31 August2020 |
18,444,889 |
|
52,498 |
2,395,291 |
|
46,717 |
378,250 |
21,317,645 |
| DEPRECIATION |
|
|
|
|
|
|
|
|
| At 1 Sept 2019 |
4,758,926 |
|
- |
2,183,834 |
|
44,384 |
288,637 |
7,275,781 |
| Chargefortheyear |
358,060 |
|
- |
85,655 |
|
1,167 |
41,579 |
486,461 |
| Disposals |
|
|
|
|
|
|
|
|
| At31 August2020 |
5,116,986 |
|
|
2,269,489 |
|
45,551 |
330,216 |
7,762,242 |
| NET BOOK VALUE |
|
|
|
|
|
|
|
|
| At 31 August 2020 |
£13.327,903 |
£ |
52,498 |
£ 125.802 |
£ |
1.166 |
£ 48,034 |
£13,555,403 |
| At3lAugust 2019 |
£13,685,963 |
£ |
52,498 |
£ 211457 |
£ |
2,333 |
54,059 |
£14,006,310 |
|
|
College |
|
|
Group |
|
|
2020 |
|
2019 |
2020 |
|
2019 |
|
£ |
|
£ |
£ |
|
£ |
| Trade debtors |
208,141 |
|
262,059 |
209,104 |
|
444,050 |
| Pangbourne College |
|
|
|
|
|
|
| Enterprises Limited |
203,208 |
|
180,932 |
- |
|
- |
| Otherdebtors |
1,117 |
|
11,644 |
3,110 |
|
11,644 |
| Prepayments and accrued |
|
|
|
|
|
|
| income |
73,681 |
|
60,928 |
73,681 |
|
60,928 |
|
486,147 |
|
515,563 |
285,895 |
|
516,622 |
| CREDITORS: Amounts falling |
due within one year |
due within one year |
|
|
|
College |
|
|
Group |
|
2020 |
2019 |
2020 |
2019 |
|
£ |
£ |
£ |
£ |
| Bank loan (see note 14) |
167,112 |
204,968 |
167,112 |
204,968 |
| Trade creditors |
105,930 |
311,084 |
149,857 |
314,848 |
| Taxation and social security |
136,256 |
233,952 |
136,256 |
264,160 |
| Other creditors |
65,864 |
147,943 |
65,864 |
147,947 |
| Acceptance deposits |
839,947 |
742,890 |
839,947 |
742,890 |
| Fees in advance |
938,716 |
755,412 |
938,716 |
755,412 |
| Accruals |
261,610 |
493,300 |
264,232 |
561,378 |
|
2,515,435 |
2,889,549 |
2,561,984 |
2,991,603 |
| Deferred income- Advanced |
|
|
|
|
| fees (see note 15) |
253,100 |
307,405 |
253,100 |
307,405 |
|
2.768,535 |
3,196,954 |
2,815,084 |
3,299.008 |
|
|
|
College |
|
Group |
|
|
|
2020 |
2019 |
2020 |
2019 |
|
|
|
£ |
£ |
£ |
£ |
|
| Bank loan |
(see note 14) |
2,054,185 |
2,146,536 |
2,054,185 |
2,146,536 |
|
| Deferred |
income- Advanced |
|
|
|
|
|
| fees (see |
note 15) |
84,674 |
218,557 |
84,674 |
218,557 |
|
|
|
2,138,859 |
2,365,093 |
|
2,365,093 |
|
|
|
|
|
|
|
Page 25 |
|
2020 |
2019 |
|
£ |
£ |
| Within one year |
167,112 |
204,968 |
| Between one and two years |
210,213 |
208,583 |
| Between two and five years |
653,150 |
648,088 |
| Over five years |
1,190,822 |
1,289,865 |
|
2,221,297 |
2,351,504 |
|
|
2020 |
2019 |
|
|
£ |
£ |
| Within |
1 year |
253,100 |
307,405 |
| Within |
1-2 years |
84,674 |
151,928 |
| Within |
2-5 years |
- |
66,629 |
|
|
337,774 |
525.962 |
The balance represents the accrued liability u
detailed as follows:- |
nder the contracts. The movemen |
ts during the |
|
2020 |
2019 |
|
£ |
£ |
| At 1 September2019 |
525,962 |
877,460 |
| Increase |
|
|
| Advance fees received |
117,425 |
175,855 |
| Discounts allocated |
11,975 |
24,796 |
|
129,400 |
200,651 |
| Decrease |
|
|
| Advance fees utilised |
(317,588 |
(55,149J |
| At31 August2020 |
337,774 |
525.962 |
| leases as follows:- |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Equipment and machinery |
|
|
| Amounts due in less than a year |
147,260 |
161,684 |
| Amounts due in the second to fifth year |
186,909 |
262,663 |
|
334,169 |
424347 |
|
2020 |
2019 |
|
£ |
£ |
| GROUP |
|
|
| Financial assets measured at amortised cost |
2,647,620 |
2,116,325 |
| Financial liabilities measured at amortised cost |
3,541.197 |
4.118.567 |
| COLLEGE |
|
|
| Financial assets measured at amortised cost |
2,781,769 |
2,005,177 |
| Financial liabilities measured at amortised cost |
3.494,648 |
4,046.721 |
| he income, expense, gains and losses in respect offinancial instrume |
nts are summa |
rised below: |
|
2020 |
2019 |
|
£ |
£ |
| GROUP AND COLLEGE |
|
|
| Total interest expense for financial liabilities held at amortised cost |
27,317 |
37,876 |
| donations held for specific |
purposes: |
|
|
|
|
Balance at |
Incoming |
Resources |
Balance at |
|
1 |
resources |
expended |
31 August |
|
September |
|
|
2020 |
|
2019 |
|
|
|
| 2020 |
£ |
£ |
£ |
£ |
| S Galley |
|
20,000 |
(20,000) |
- |
| Boat House fund |
135,282 |
|
- |
135,282 |
| Other restricted funds |
- |
1,868 |
- |
1,868 |
| Centenary Appeal |
46,414 |
264 |
(3,064) |
43,614 |
|
181,696 |
22.132 |
(23.064) |
180,764 |
|
Balance at |
Incoming |
Resources |
|
Balance at |
|
1 September |
resources |
expended |
|
31 August |
|
2018 |
|
|
|
2019 |
| 2019 |
£ |
£ |
£ |
|
£ |
| Boat House fund |
- |
135,282 |
|
- |
135,282 |
| CentenaryAppeal |
43,986 |
2,428 |
|
- |
46,414 |
|
439H6 |
137,710 |
|
- |
181,696 |
| GROUP |
— 2020 |
Unrestricted |
Restricted |
Total |
|
|
funds |
funds |
|
|
|
£ |
£ |
£ |
| Tangible fixed assets |
|
13,555,403 |
- |
13,555,403 |
| Net current (Iiabilities)lassets |
|
(80,303) |
180,764 |
100,461 |
| Long Term liabilities (including |
|
|
|
|
| pension |
scheme deficit) |
(2,254,767) |
- |
(2,254,767) |
|
|
11,220,333 |
180,764 |
ii40j97 |
| GROUP |
- 2019 |
Unrestricted |
Restricted |
Total |
|
|
funds |
funds |
|
|
|
£ |
£ |
£ |
| Tangible |
fixedassets |
14,006,310 |
- |
14,006,310 |
| Net current (liabilities)/assets |
|
(1,145,484) |
181,696 |
(963,788) |
| Long Term liabilities (including |
|
|
|
|
| pension |
scheme deficit) |
(2,504,661) |
- |
(2,504,661) |
|
|
10,356,165 |
181,696 |
10,537,861 |
COLLEGE
- 2020 |
Unrestricted |
Restricted |
Total |
|
funds |
funds |
|
|
£ |
£ |
£ |
| Tangible fixed assets |
13,555,403 |
- |
13,555,403 |
| Net current (liabilities)/assets |
(77,614) |
180,764 |
103,150 |
| Long Term liabilities (including |
|
|
|
| pension scheme deficit) |
(2,254,767) |
- |
(2,254,767) |
|
11,223,022 |
180.764 |
11.403.786 |
| COLLEGE - 2019 |
Unrestricted |
Restricted |
Total |
|
funds |
funds |
|
|
£ |
£ |
£ |
| Tangible fixedassets |
14,006,310 |
- |
14,006,310 |
| Net current (Iiabilities)/assets |
(1,296,246) |
181,696 |
(1,114,550) |
| Long Term liabilities (including |
|
|
|
| pension scheme deficit) |
(2,504,661) |
- |
(2,504,661) |
|
10,205,403 |
181.696 |
10,387,099 |
| RECONCILIATION OF NET CASH FLOW TO M |
OVEMENT I |
N NET DEBT |
|
|
|
2020 |
2019 |
|
|
£ |
£ |
| Increase/(decrease) in cash in the year |
|
774,775 |
(585,048) |
| Fees on account |
|
188,188 |
351,498 |
| Loan repayments |
|
130,207 |
202,001 |
| Change in net debt |
|
1,093,170 |
(31,549) |
| Net debt at 1 August |
|
(1,216,835) |
(1,185,286) |
| NET FUNDS/(DEBT) AT 31 AUGUST |
£ |
(123.665) |
£(1216835) |
| NALYSIS OF CHANGE IN NET DEB |
T |
|
|
|
|
Netdebt as at |
|
Net funds as |
|
|
1 September |
Cash |
at 31 August |
|
|
2019 |
Change |
|
2020 |
|
£ |
£ |
|
£ |
| Cash at bank and in hand |
1,660,631 |
774,775 |
|
2,435,406 |
| Fees on account |
(525,962) |
188,188 |
|
(337,774) |
| Loans |
(2,351,504) |
130,207 |
|
(2,221,297) |
|
£(1216,B25) |
£ 1093.17Q |
£ |
(123,665) |
|
Unrestricted |
|
Restricted |
Total |
|
Funds |
|
Funds |
2019 |
|
|
|
|
£ |
| INCOMEAND ENDOWMENTS FROM. |
|
|
|
|
| Income from Charitable Activities |
|
|
|
|
| School fees receivable |
10,293,210 |
|
- |
10,293,210 |
| Ancillary trading income |
416,313 |
|
- |
416,313 |
| Other Trading Activities |
|
|
|
|
| Trading income |
439,075 |
|
- |
439,075 |
| Rents and lettings |
88,564 |
|
- |
88,564 |
| Profit on sale offixedassets |
16,481 |
|
- |
16,481 |
| Investmentincome |
- |
|
|
|
| Donations and legacies |
20,352 |
|
137,710 |
158,062 |
| Totalincome |
11,273,995 |
|
137,710 |
11,411,705 |
| EXPENDITURE ON: |
|
|
|
|
| Expenditure on Charitable Activities |
|
|
|
|
| Teaching costs |
5,348,612 |
|
- |
5,348,612 |
| Welfare costs |
1,664,053 |
|
- |
1,664,053 |
| Premises costs |
2,199,228 |
|
- |
2,199,228 |
| Supportcosts |
1,836,576 |
|
- |
1,836,576 |
|
11,048,469 |
- |
|
11,048,469 |
| Expenditure on Raising Funds |
|
|
|
|
| Trading expenditure |
289,331 |
|
- |
289,331 |
| Finance costs |
72,928 |
|
|
72,928 |
| Totalexpenditure |
11,410,728 |
|
- |
11,410,728 |
| Net income and movement in funds |
(136,733) |
|
137,710 |
977 |
| Balances brought forward |
|
|
|
|
| At31 August 2018 |
10,490,398 |
|
43,986 |
11,030,069 |
| Balances carried forward |
|
|
|
|
| At31 August 2019 |
10353,665 |
|
181.696 |
10.535,361 |