2020-08-31-accounts - The Tovey Endowment

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			Page
Report of the Trustees			1-8
Report of	the Independent Auditors
Statement	of Financial Activities		12
Balance Sheet			13
Statement	of Cash Flow		14
Notes to	the Financial Statements		15-23
Detailed	Income and Expenditure	account	24-25

						Unrestricted	Funds
						General	Designated	Restricted	Total	Prior Year
						Funds	Funds	Funds	Funds	Funds
				Notes		2020	2020	2020	2020	2019
						E	E	E	E	E
Income and endowments		from;
Charitable Activities Fees Receivable Otherlncome investments				3		212,482 5,902 7,136	2,749		215,231 5,902 7,136	1,362,571 32,220 4(526
Total						225,520	2,749		228,269	1,399,317
Expenditure on:
Charitable Actlvltles Bursaries & Awards Teaching Costs Welfare &Catering Premises Costs Support Costs						153,736 24,319 22,872 74,037	2,749 3,243 3'82 8,732 127		2,749 156,979 24,701 31,604 74,164	23(827 839(990 122,516 183,164 194(555
						274,964	1'5,233		290,197	1,364,052
Governance Costs						16,733			16,733	10,670
Total					5	(291,697)	(15,233)		(306,930) amma	('1,374,122)
Net income /(expenditure)			before extraordinary	Item		(66,177)	(12,484)		(78,661)	25,19S
Transfers between	funds				12	654,372	(654,372)
Surplus on sale of company			assets and trade		13	1,181,828			1,181,828	(43,119)
Movement in funds						1,770,023	(666,856)		1,103,167	(17,924)
Reconciliation of funds Total funds brought forward						431,411	666,856		1,098,267	1,116,191
Total funds carried	forward				14	2,201,434			2,201,434	1,098,267

	The Tave	The Tave	Endowment	formerl	formerl		Hi hfield Pre grata	Hi hfield Pre grata	School Limited
					Com	an	No.	864531
					Balance Sheet
					as at	31Au ust?020
									Total	Prior Year
									Funds	Funds
							Notes		2020	2019
									6	E
FIAed assets:										666,856
Tangible Assets
Current assets:										64,166
Debtors Cash at Bank and Ir'I Hand Shor't Term Deposits									28,017 2,183(883	45(789 566,558
Total Current Assets									2,211,900	676r513
Uabilities: Creditor's: Amounts	faliing	due	within one year						(10,466)	(132,515)
Net current assets									2(201(434	543,998
Total assets less current liabi%'ties									2,201,434	1,210,854
										(112,587)
Deferred income:
Total net assets									2,201,434	1,098,267
The funds of the charity: General Fund Designated Funds								12 12	2,201,434	431,411 666,856.
Total charity funds									2,201,434	1,098,267
The financial statements		have been prepared			in'accordance			with the special	provisions of Part	15ofthe Companies
Act2006 relating	to small companies.
The financial statements		were approved		by	the Board ofDirectors on				(Q	2020 and signed on
its be by;
PcampbelllviA	scc		redFciPD
Chairman

for the	ear ended 31	Au ust 2020
			2020	2019
		Note
Cash (used In) / provided by operating activities			(243,786)	321601
Cash flows from /(used in) investing activities Interest Income Purchase of tangible fixed assets Proceeds-from the sale of business and assets Solicitors fees wltheld from proceeds on sale of business Pupil fe'es etc.transferred on sale of business			7,136 (7,162) 1,577,032 (11,082) 277,415	4,526 (18,434)
Cash flows from / (used in) Investing activities			1,949,999	(13,908)
increase in cash and cash equivalents In the year			1I599,553	18,693
Cash and cash equivalent at the beginning ofthe	year		612,347	593,654
Total cash and cash equivalents at the end ofthe year			2,211,9DO	612,347

					ZOZO	2019
					E	E
3		Other Income
					300	2,900
		Registration Fees			2 237	20,686
		Hire of Premises				6,302
		Grants & Donations			3,365	2 332
		Sundry Income
					5,902	32,220
	4	Staff Costs
		Wages and Salaries Social Security Costs Pension Contributions Other Costs			128,815 11,172 21,824 1,473	775,933 64,201 91,598 3(315
					163,284	935,047
		The average number of employees		In the period was:	2020	2019
					12	14
		Teaching: Full Time				15
		Part Time
		Domestic
		Administration
					42	40
		The number ofemployees	whose	emoluments
		would have exceeded E60,000 In the year were:
		Note On 13 November 2019the trade and assets ofthe school was sold to a third party. Following agreement from both parties all contracts were transferred to the buyer on 31October 2019.The figures shown above reflect the average number of employees for the period oftrade.
		Governance Costs ofthe Charity		Include;
			'
		Auditors' Remuneration,
					11,705	8,088
		For Audit
		For other services			5,016	1,324

	Analysis of Expenditure		Staff Costs &
			Contractors	Other	Depreciation	Total
			E	f.		E
	Charitable Activities
	Scholarships &Bursarles Teaching Costs Welfare Costs Premises Costs Support Costs		130,059 12,639 5,485 21,692	2,749 23,677 11,680 17I387 S2,345	3,243 382 8,732 127	2,749 156;979 24,701 31,604 74,164
	Governance Costs		169,875	107,838 16,733	12,484	290,197 16,733
	Total Expenditure		169,875	124,571	12,484	306,930
6	Tangible Fixed Assets	Freehold Land & Buildings E	Improvements to Property f	Furniture, Fixtures & Equipment E	Motor Vehicles E	Total
	Cost At 1 September 2019 Additions Dlsposals	918,357 (918,357)	302,882 6,780 (309,662)	238,962 382 (239,344)	17,394 (17,394)	1,477,595 7,162 (1,484,757)
	At 31August 2020
	Depreciation At 1 September 2019 Charge for period Dlsposals	441,490 3,299 (444,789)	169,515 4,778 (174,293)	197,247 3,993 (201,240)	2,485 414 (2,899)	810,737 12,484 (823,221)
	At 31August 2020
	Net Book Values
	At 31 August 2020
	At 31August 2019	476,867	133,367	41,715	14,909	666,858

						2020	2019
						f	g
7		Debtors
		Trade Debtors Deferred Costs Prepayments Other debtors Provision for irrecoverablllty of debtors				292,500 (292,500)	10,776 24,372 29,018
							64,166
		As stipulated in the business transfer agreement, a sum of the purposes of capital improvements, If this balance has first day ofthe Autumn term 2023, the balance remaining As it is deemed unlikely this sum will be recovered by the			E292,500 has been set aside by the buyer for not been spent on capital assets before the will be transferred to The Tovey Endowment, charity, In order to show a true and fair view
		the debtor has been fully Impaired in the financial		statements,
	8	Short Term Deposits
		COIF Charity Funds				2,183,883	566,558
	9	Creditors. - Amounts falling due within one year
		Trade Creditors Payroll Taxes 5 Social Other Creditors	Security Costs			10,466	26,672 26,450 79,393
						10,466	132,515

		Total
		Unrestricted
		~Fnds
		E
		28,017
Cash at Bank & in Hand		2,183,883
Short term Deposits .Creditors -Amounts	falling due in less than one year	(10,466)
Balance of funds at	31August 2020	2,201,434

Reconciliation of net	movements	movements	movements	in funds	to net cash flow	from operating activities
						2020	2019
						E
Deficit for the year						(78,661)	(17,924)
Add back depreciation		charge				12,484	81,56'3
Deduct interest Income						(7,136)	(4,526)
Decrease In debtors						64,166	15,255
(Decrease)/Increase	in	creditors				(122,049)	7,583
Decrease in deferred	Income					(112,590)	(49;350)
Net cash (used in) /	provided		by	operating	activities	(243,786)	32,601

	The	Endowment	formerl	formerl	Hl hfleld Pre	Hl hfleld Pre	arator	arator	SchoolLlmlted
		Detailed	Income		a d Ex endlture		Account
		for	the	ear	ended 31Au	ust	2020
					Linrestrlcfed	Funds
					2020
										Total	Total
				General Funds		Designated Funds			Restricted Funds	Funds 2020	Funds 2019
					E		f		E	E	E
Income
Fees Receivable Tuition (Reception to year Nursery School Meals	6)				173(869 15,353 17,296		2,749			176,618 15,353 17,296	1074739 146,839 106/585
					206,518		2,749			209,267	1,328,163
Early Birds & The Den					5,964					5,964	29,820 4,588
Holiday Club
Total Fee Income					212,482		2,749			215,231	1,362,571
Other Income Registration Hire ofPremises					300 2 237					300 2 237	2,900 20,68'6 6,302
Grants & Donations Sundry Income					3,365					3,365	2332
Total Other Income					5,902					5,902	32,220
Interest Received Bank Peposit Interest					7,136					7;136	4,526
TOTAL INCOIVIE					225,520			2,749		228/269	1,399,317
Bursarles & Awards								2,749		2,749	23,827
Teaching Staff Costs
Teaching Salaries, Employers' National Insurance 8 Medical Insurance Pension Contributions External Workshops Recruitment -Teaching staff					110,009 20,050					110,009 20,050	656,888 82,656 1,585 2,825
					130,059					130,059	743,954
Tutorial Expenses Academic Purchases Teaching Equipment Repairs & Renewals Transport for Sports Costs of School Productions Pupil Insurance Sports Facilities Hire In-Service Training Computer Suite Costs Academic Licences &Subscrlptlons Depreciation: ICT Equipment Depreciation: Minibus					11,190 416 4,671 540 278 1723 1,270 3,484 105			2,829 414		11,190 416 4,671 540 278 1723 1,270 3,484 105 2,829 414	24,460 127 17,248 2,634 1/465 81142 6;598 11(120 4,729 17,033 2,485
					23,677			3,243		26,920	96,036
Total Teaching Costs					153,736			3,243		156,979	839,990

				Unrestricted F 2020	unds
							Total	Total
				General Funds Designated Funds		Restricted Funds	Funds 2020	Funds 2019
				E			E	E
Welfare and Catering Wages & Contractors Catering, The Den and Early Catering Management Fee Food Kitchen Consumables 8 Holiday Club Resources			Birds	12,'639 600 8,17S 2,905	382		12,639 600 8,175 2,905 382	76,036 3,600 34,777 7,670 433
Depreciation: Kitchen Equipment
				24,319	382		24,701	122,516
Premises Costs Site Controllers' Wages & Einployer's National Insurance Cleaning Contractors Business &Water Rates Heat &Ught Insurance Household Expenses, Maintenance, Servicing, Waste Repairs & Refurbishment, Ground Maintenance, Equipment Depreciation; Buildings				5,485 4,490 21823 2,394 2,885 3,767 1(028	1,406 429		5,485 4,490 2,823 2,394 2,885 3,767 1,028 1,406 429	30,790 24,303 14,038 15,590 12,913 16897 8,804 8,437 2,575
Pre-School					272		272	1(629
Reception:classroom Building Projects 2003 Improvements to Property					810 4,778 727		810 4,778 727	4,860 30,051 9,466
Equipment Furniture, Fixtures		& Fittings			310		310	2,811
				22,872	8,732		31,604	183,164
Support Costs Salaries & Employer's National Pension Contributions	Insurance			20,340 11352 57			20,340 1,35Z 57	125,589 7,136 278
Training								126
Travel				381			381	1,505
IViedlcal Printing &Stationery				910 868			910 868	3,116 5,348
Computer Sundries Telephone &Postage				579			579	2,399 364
Subscriptlons Marketing				33,959 453			33,999 453	37,64S 1,815
Recruitment				571			571	5,485
General Expenses Legal & Professional				13,770 797			13,770 797.	508 1,458
Bank Charges					127		127	1,783
Depreciation: Office Equipment
				74,037	127		74,164	194,555
Governance Costs Audit & Accountancy Fees				16,721 12			16,721 12	9,412 658
Other Expenses
				16(733			16,733	10,070
TOTAL EXPENDITURE				(291,697)	(15,233)		(306,930)	(1,374,122)
SURPLUS/(DEFICIT) BEFORE	SALE OF COMPANY ASSETS AND TRADE			(66,177)	(1?(484)		(78,661)	25,195
Surplus on sale ofcompahy	assets and trade			1,181,828			1(1'81,828.	(43,119)
SURPLUS/(DEFICIT) FOR YEAR				1,115,651	(12,484)		1,103,167	(17,924)