OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-08-31-accounts

Unrestricted Unrestricted funds
Note General
funds		 Designated
funds		 Restricted
funds		 Total
2021		 Total
2020
INCOME FROM:
Government
grants
Charitable
activities		 4c 89,864 89,864 429,809
School fees
Ancillary
income
Other trading		 4a
7		 16,362,449
614,787		 16,362,449
614,787		 15,602,258
835,415
activities
Trading income
Non-ancillary
income		 14
5		 61,116
178,168		 61,116
178,168		 73,216
90,489
Investments 31,843 31,843 33,213
Donations 26,888 17,044 43,932 57,575
Total income 17,333,272 31,843 17,044 17,382,169 17,121,975
EXPENDITURE ON:
Charitable
activities		 8 16,492,037 464,364 7,544 16,963,945 16,910,847
Raising funds 9 26,854 16,703 43,657 28,221
Trading costs 14 9,786 9,786 7,628
Total expenditure 16,528,677 481,067 7,544 17,017,288 16,946,696
Net income before
gains and transfers 804,595 (449,224) 9,500 364,871 1?5,279
Netgain
on
investments
Transfers
between		 14 267,174 267,174 (46,536)
funds 22 (182,050) 182,050
Net movement
in
funds 622,546 9,500 632,045 128,743
Total funds brought
forward 22 14,850,697 1,000,000 28,706 15,879,403 15,750,660
Total funds carried
forward 22 16,473,242 1,000,000 38,206 16,511,448 15,879,403

Unrestricted funds
General Designated Restricted Total Total
Note funds funds
E		 funds
E		 2020 2019f
INCOME FROM:
Government
grants		 4c 429,809 429,809
Charitable
activities
School fees 4a 15,602,258 15,602,258 16,568,432
Ancillary
income		 7 835,415 835,415 1,019,559
Other trading
activities
Trading income 14 73,216 73,216 91,403
Non-ancillary income 5 90,489 90,489 26,228
Investments 33,213 33,213 38,493
Donations 21,283 36,292 57,575 36,437
Total income 17,052,470 33,213 36,292 17,121,975 17,780,552
EXPENDITURE ON:
Charitable
activities		 8 16,418,191 485,070 7,586 16,910,847 17,149,400
Raising funds 9 11,788 16,433 28,221 44,697
Trading costs 14 7,628 7,628 23,794
Total expenditure 16,437,607 501,503 7,586 16,946,696 17,217,891
Net income/
(expenditure) before
gains/(losses) and
transfers 614,863 (468,290) 28,706 175,279 562,661
Net (loss)/gain on
investments 14 (46,536) (46,536) 39,743
Transfers
between
funds 22 (514,826) 514,826
Net movement in
funds 100,037 28,706 128,743 602,404
Total funds brought
forward 22 14,750,660 1,000,000 15,750,660 15,148,256
Total funds carried
forward 22 14,850,697 1,000,000 28,706 15,879,403 15,750,660

Group Group School School
Company number 0133676 Note 2021 2020 2021 2020
Fixed assets
Tangible assets 13 18,630,363 19,374,674 18,630,363 19,374,674
Investments 14 1,745,910 1,463,595 1,745,912 1,463,597
20,376,273 20,838,269 20,376,275 20,838,271
Current assets
Debtors 15 375,339 401,071 392,423 417,228
Cash at bank and
in hand		 28 690,564 400,792 630,882 328,383
1,065,903 801,863 1,023,305 745,611
Creditors: amounts falling due
within one year 16 (3,183,298) (3,923,536) (3,173,035) (3,913,874)
Net current liabilities (2,117,395) (3,121,673) (2,149,730) (3,168,263)
Total assets less current
liabilities 18,258,878 17,716,596 18,226,545 17,670,008
Creditors: amounts falling due
after more than one year 17 (1,747,430) (1,837,193) (1,747,430) (1,837,193)
Net assets 23 16,511,448 15,879,403 16,479,115 15,832,815
Funds
General funds 22 15,473,242 14,850,697 15,440,909 14,804,109
Designated funds 22 1,000,000 1,000,000 1,000,000 1,000,000
16,473,242 15,850,697 16,440,909 15,804,109
Restricted funds 22 38,206 28,706 38,206 28,706
Total 22 16,511,448 15,879,403 16,479,115 15,832,815

Group Group
Note 2021 2020
E
Cash flows from operating activities
Net cash provided
by operating
activities		 27 2,273,010 483,552
Cash flows from investing activities
Dividends
and interest on investment		 portfolio 31,843 33,213
Purchase oftangible
fixed assets		 (694,548) (1,404,348)
Purchase of investments (260,528) (247,752)
Receipts from sale of investments 157,051 250,248
Net cash used
in investing		 activities (766,182) (1,368,639)
Cash flows from financing activities
Receipt of new bank loan 2,000,000 2,000,000
Repayment
of borrowing		 (2,073,633)
Interest
paid		 (56,338) (36,009)
Net cash (used in)/provided by financing activities (129,971) 1,963,991
Increase
in cash and cash equivalents		 in the year 1,376,857 1,078,904
Cash and cash equivalents at the beginning ofthe year (1,308,575) (2,387,479)
Total cash and cash equivalents
at		 the end ofthe year 28 68,282 (1,308,575)

School fees
Unrestricted Unrestricted
2021 2020
School fees receivable consist of:
Gross fees 17,140,408 17,493,062
Less: Scholarships and other awards (888,347) (922,023)
Less: Summer term (Covid-19) discount (353,976) (1,453,278)
Net fees receivable 15,898,085 15,117,761
Add: Bursaries paid out ofdesignated funds 464,364 484,497
16,362,449 15,602,258

The total aw ards are as fol lows:
Unrestricted Unrestricted
2021 2020
Revenue account (scholarships) 423,983 437,526
Designated funds (means-tested bursaries) 464,364 484,497
Total grants and awards 888,347 922,023
4c Income from government grants
Unrestricted Unrestricted
2021 2020f
Government furlough
scheme		 89,864 429,809

Non ancil lary income
Unrestricted Unrestricted
2021 2020
F
Property rentals 34,738 32,300
HM Court and Tribunals Service income 130,485 51,660
Miscellaneous income 12,945 6,529
178,168 90,489

Unrestricted Unrestricted
2021 2020
F
UK listed investments 31,843 33,213

Ancillary
in		 co me
Unrestricted Unrestricted
2021 2020
F F
After school care 31,624 64,049
Trips income 74,141 252,791
Fees for extra-curricular courses and examinations 393,657 437,835
Fees in lieu of notice 44,920 7,404
Registration fees 48,217 30,884
Tuck shop income 10,816
Miscellaneous income 22,228 31,636
614,787 835,415

8 Expenditure on charitable activities
Total
Staff costs Other Depreciation 2021
F F
Charitable
activities
Teaching costs 8,297,504 406,151 235,729 8,939,384
Welfare costs 73,859 968,943 1,042,802
Premises costs 920,267 1,686,378 1,197,298 3,803,943
Support costs 1,625,472 895,967 5,832 2,527,271
Trip costs and other travel 126,258 126,258
Grants, awards and prizes 464,364 464,364
Governance
costs		 29,730 29,730
Finance costs 60,451 60,451
Movement
in		 bad debt provision (30,258) (30,258)
10,917,102 4,607,98¹ 1,438,859 16,963,945
Total
Staff costs Other Depreciation 2020
F F
Charitable
activities
Teaching costs 8,805,483 490,595 279,962 9,576,040
Welfare costs 62,664 822,841 885,505
Premises costs 849,932 1,111,661 1,193,779 3,202,191
Support costs 1,564,221 776,666 4,980 2,345,867
Trip costs and other travel 284,162 284,162
Grants, awards and prizes 485,070 485,070
Governance
costs		 24,106 24,106
Finance costs 78,073 78,073
Provision
for bad debts		 76,652 76,652
11,282,300 4,149,826 1,478,721 16,910,847
9 Expenditure
on		 raising funds
2021 2020
Portfolio management costs 16,703 16,433
Non-ancillary
costs		 26,854 11,788
43,557 28,221

Staff costs
2021f 2020
Wages and salaries 8,967,835 8,779,419
Social security 836,368 835,750
Pension contributions 967,260 1,518,891
Other non-payroll staff costs 145,639 148,240
10,917,102 11,282,300
exceeded 66 0,000was:
2021 2020
Number Number

The average
number
of employees
during th		 e year was as follows:
2021 2020
Number Number
Teaching 239 261
Welfare 26 28
Premises 18 18
Support 45 46
328 353
The split between
part time		 and full time staff was as follow s:
2021 2021 2020 2020
Number Number Number Number
Full time Part time Full time Part time
Teaching 110 129 109 152
Welfare 7 20 5 23
Premises 14 4 15 3
Support 26 18 26 20
157 171 155 198

11 Net Income
2021 2020
F
Net income includes:
Operating
lease charges		 32,647 57,894
Depreciation 1,438,859 1,479,511
Auditors'
remuneration		 —excluding VAT
-Audit fees 24,000 22,320
- Other 3,500 4,260
-Taxation —compliance services to the subsidiary 1,650 1,525

Tangible assets —Group and Sc hool
Freehold
property
and		 Motor
improvements vehicles Equipment Total
F F
Cost
At 1 September 2020 27,622,835 23,338 4,093,078 31,739,251
Additions 449,284 245,264 694,548
At 31August 2021 28,072,119 23,338 4,338,342 32,433,799
Depreciation
At 1 September 2020 9,115,491 15,638 3,233,448 12,364,577
Charge for year 1,075,170 3,300 360,389 1,438,859
At 31August 2021 10,190,661 18,938 3,593,837 13,803,436
Net book va/ue
At 31August 2021 17,881,458 4,400 744,505 18,630,363
At 31 August 2020 18,507,344 7,700 859,630 19,374,674

14 Fixed asset investments asset investments
Group Group School School
2021 2020 2021 2020
Listed investments (see below) 1,745,910 1,463,595 1,745,910 1,463,595
Abbey Commercial Enterprises
Limited (see below)
1,745,910 1,463,595 1,745,912 1,463,597

Trading
resul		 ts e xtracted
from its audited
financial statements
 are shown
below:
2021 2020
Turnover 61,116 73,216
Administration expenses (9,786) (7,628)
Management charge from the Abbey School (19,000) (19,000)
Profit on ordinary activities before taxation 32,330 46,588
Tax on profit on ordinary
activities
Profit on ordinary activities after taxation 32,330 46,588
Net assets 32,330 46,590

2021 2020
Market Market
value value
At 1 September 1,337,306 1,386,338
Additions 260,528 247,752
Disposals (157,051) (250,248)
Unrealised gain/(loss) on revaluation for the year 267,174 (46,536)
At 31 August 1,707,957 1,337,306
Cash held by investment manager 37,953 126,289
Total 1,745,910 1,463,595
Historical cost of investments 1,257,752 1,292,761
Investment s
which		 compri se
more t		 han 5%ofthe market valu e of investments
are:
Market
value Cost
F F
Aberdeen Standard Fund Managers Ltd 94,439 77,773
Debtors
Group Group School School
2021
F		 2020 2021f 2020
Trade debtors 41,691 61,590 39,775 53,873
Amounts
due from own subsidiary		 19,000 23,874
Other debtors 4,500 46,762 4,500 46,762
Prepayments 329,148 292,719 329,148 292,719
375,339 401,071 392,423 417,228

Creditors: am ounts
falling due within		 less than one ye ar
Group Group School School
2021 2020 2021 2020
F
Bank overdraft 622,282 1,709,367 622,282 1,709,367
Bank loan (see note 18) 200,000 200,000 200,000 200,000
Trade creditors 486,399 322,123 486,399 322,123
Deposits held 658,551 648,868 658,551 648,868
Other taxes and social security costs 229,485 407,197 224,870 403,412
Other creditors 221,151 89,246 221,151 89,246
Accruals 346,252 121,785 340,60¹ 115,908
Advance fee scheme payments
(see note 19) 16,530 42,577 16,530 42,577
Fees received in advance 402,648 382,373 402,648 382,373
3,183,298 3,923,536 3,173,035 3,913,874

Creditors: am ounts
falling due afte		 r more than one yea r
Group Group School School
2021 2020 2021 2020
E f.
Bank loan (see note 18) 1,726,367 1,800,000 1,726,367 1,800,000
Fees received in advance 4,533 4,533
Advance fee scheme payments
(see note 19) 16,530 37,193 16,530 37,193
1,747,430 1,837,193 1,747,430 1,837,193

2021 2020
Within 1 year 200,000 200,000
Within 2 to 5years 800,000 800,000
More than 5years 926,367 1,000,000
Total due in more than one year 1,726,367 1,800,000
Total balance repayable at the year end 1,926,367 2,000,000

It is in ten ded
that the advance fees will be applied		 as follows:
2021 2020
F
Within 1 year 16,530 42,577
Within 2 to 5years 16,530 37,193
33,060 79,770
Balance at 1 September 2020 79,770 156,660
Amounts utilised
in the payment		 offees (46,710) (76,890)
Balance at 31 August 2021 33,060 79,770



leases as follows:		 gp
2021 2020
Due within one year 35,153 53,503
Due between one and five years 43,941 4,391
79,094 57,895
21 Capital commitments
At 31 August 2021 the School had the following capital commitments:
2021 2020
F
Contracts for future capital expenditure not provided in the financial
statements 11,583 91,100
22 Funds
Group —current year
Balance at 1 At 31
September Gains and August
2020 Income Expenditure (losses) Transfers 2021
Unrestricted
funds
General 14,850,697 17,333,272 (16,528,677) (182,050) 15,473,242
unrestricted
Designated —The
Bursary Fund 1,000,000 31,843 (481,067) 267,174 182,050 1,000,000
Total Unrestricted
funds 15,850,697 17,365,115 (17,009,744) 267,174 16,473,242
Restricted funds 28,706 17,044 (7,544) 38,206
Total funds 15,879,403 17,382,159 (17,017,288) 267,174 16,511,448

Balance at 1 At
September Gains and 31August
2020 Income Expenditure (losses) Transfers 2021
Unrestricted
funds
General
unrestricted 14,804,109 17,337,741 (16,518,891) (182,050) 15,440,909
Designated —The
Bursary Fund 1,000,000 31,843 (481,067) 267,174 182,050 1,000,000
Total Unrestricted
funds 15,804,109 17,369,584 (16,999,958) 267,174 16,440,909
Restricted funds 28,706 17,044 (7,544) 38,206
Total funds 15,832,815 17,386,628 (17,007,502) 267,174 16,479,115
Group —prior year
Balance at 1 At
September Gains and 31August
2019 Income Expenditure Transfers (losses) 2020
Unrestricted
funds
General
unrestricted 14,750,660 17,052,470 (16,437,607) (514,826) 14,850,697
Designated —The
Bursary Fund 1,000,000 33,213 (501,503) 514,826 (46,536) 1,000,000
Total Unrestricted
funds 15,750,660 17,085,683 (16,939,110) (46,536) 15,850,697
Restricted funds 36,292 (7,586) 28,706
Total funds 15,750,660 17,121,975 (16,946,696) (46,536) 15,879,403

Balance at
1 Gains At
September and 31 August
2019 Income Expenditure Transfers (losses) 2020
Unrestricted
funds
General
unrestricted 14,683,051 17,065,863 (16,429,979) (514,826) 14,804,109
Designated —The
Bursary
Fund		 1,000,000 33,213 (501,503) 514,826 (46,536) 1,000,000
Total Unrestricted
funds 15,683,051 17,099,076 (16,931,482) (46,536) 15,804,109
Restricted funds 36,292 (7,586) 28,706
Total funds 15,683,051 17,135,368 (16,939,068) (46,536) 15,832,815
Group
Fixed Net current Long term 2021
assets Investments liabilities liabilities Total
f.
Funds 2021
General
fund		 18,630,363 (1,409,691) (1,747,430) 15,473,242
Designated funds 1,745,910 (745,910) 1,000,000
Restricted fund 38,206 38,206
18,630,363 1,745,910 (2,117,395) (1,747,430) 16,511,448
Fixed Net current Long term 2020
assets Investments liabilities liabilities Total
F
Funds 2020
Revenue account 19,374,674 (2,686,784) (1,837,193) 14,850,697
Designated funds 1,463,595 (463,595) 1,000,000
Restricted funds 28,706 28,706
19,374,674 1,463,595 (3,121,673) (1,837,193) 15,879,403

School
Fixed Net current Long term 2021
assetsf Investments liabilities liabilities
F		 Total
F
Funds 2021
General account 18,630,363 (1,442,024) (1,747,430) 15,440,909
Designated funds 1,745,912 (745,912) 1,000,000
Restricted funds 38,206 38,206
18,630,363 1,745,912 (2,149,730) (1,747,430) 16,479,115
Fixed Net current Long term 2020
assets Investments liabilities liabilities Total
F F F E
Funds 2020
General account 19,374,674 (2,733,372) (1,837,193) 14,804,109
Designated funds 1,463,597 (463,597) 1,000,000
Restricted funds 28,706 28,706
19,374,674 1,463,597 (3,168,263) (1,837,193) 15,832,815

At At
1 September 31August
2020f Cash flows
f		 Non-cash flows 2021
Cash balances 400,792 289,772 690,564
Overdraft (1,709,367) 1,087,085 (622,282)
Bank loans due in under (200,000) (200,000)
one year
Bank loans due in more (1,800,000) 73,633 (1,726,367)
than one year
Net Debt (3,308,575) 1,450,490 (1,858,085)