2022-08-31-accounts - Sandroyd School Trust Limited

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			Page
Company Information
Report ofthe Governors	(including	Strategic Report)
Report ofthe Auditors
Statement of Financial Activities
Balance Sheet			12
Cash Flow Statement
Notes tothe Cash Flow	Statement
Notes tothe Financial Statements			15


GOVERNORS:	Rhodri Thomas	(Chairman)
	Simon Barber
	Jaideep Barot
	Hannah Bell
	Paul Bird
	Peter Rourke
	Elizabeth Bderley
	Emma McKendrick
	Charles McVeigh
	Laura Miles
	Oliver Stanley
	George Whitegeld
	Felicity Wilson
	Philippa Zingg
HEADMASTER:	Alastair Speers
SECRETARY:	Rupert Burnell-Nugent
PRINCIPAL ADDRESS:	Rushmore
	Tollard Royal
	Salisbury
	SPSSQD
REGISTERED OFFICE:	Windover House
	St Ann Street
	Salisbury
	SP12DR
REGISTERED NUMBER:	532767 (England	and Wales)
CHARITY REGISTRATION
NUMBER:	309490
AUDITORS:	Fawcetts LLP
	Chartered Accountants
	and Statutory	Auditors
	Windover House
	St Ann Street
	Salisbury
	SP12DR
BANKERS:	Lloyds Bank pic
	38 Blue Boar Row
	Salisbury
	SP11DA

			Unrestricted	Restricted	Total	Total
			funds	funds	2022	2021
		Notes	E	E	E	E
INCOME AND ENDOWMENTS	FROM:
Income from:
Charitable activities
Fees receivable		2	4,936,200		4,936,200	4,378,896
Otherincome		3	149,514		149,514	292,960
Donations and legacies				36,987	36,987	39,265
Total income and endowments			5,085,714	36,987	5,122,701	4,711,121
EXPENDITURE
Expenditure on:
Charitable activities:
School operating costs			5,022,828	46,664	5,069,492	4,625,478
Total expenditure		6	5,022,828	46,664	5,069,492	4,625,478
NET INCOME/(EXPENDITURE)			62,886	(9,677)	53,209	85,643
Fund balances at 1September	2021		3,603,650	514,046	4,117,696	4,032,053
TOTAL FUNDS CARRIED FORWARD
AT31AUGUST 2022			3,666,536	504,369	4,170,905	4,117,696

				2022		2021
			Notes
FIXEDASSETS:
Tangible assets					6,375,222		6,548,190
CURRENT ASSETS:
Stocks			9	97,209		67,931
Debtors			10	1,491,816		1,312,724
Cash at bank and in hand				3,039		3,193
				1,592,064		1,383,&48
CREDITORS:	Amounts	falling
due within one	year		11	2,447,910		2,395,328
NET CURRENT LIABILITIES					(855,846)		(1,011,480)
TOTAL ASSETS LESSCURRENT
LIABILITIES:					5,519,376		5,536,710
CREDITORS:
Due after more	than one	year			(1,348,471)		(1,419,014)
					04.170.905		E4,117,696
RESERVES:
Restricted funds			20		504,369		514,046
Unrestricted funds					3,666,536		3,603,650
					4.170.905		E4,117,696

					2022	2021
				Notes	f	E
Net cash provided by
operating activities					234,712	581,002
Cash flows from investing	activities:
Purchase oftangible assets					(84,393)	(133,565)
Proceeds ofdisposals					3,000
Net cash used in investing	activities				(81,393)	(133,565)
Cash flows from financing	activities:
Loan repayments					(197,193)	(142,658)
Loan received in the year						50,000
Capital repayments in the year					(5,589)	(5,590)
Net cash used in by financing		activities			(202,782)	(98,248)
Change in cash and cash equivalents			in the year		(49,463)	349,189
Cash and cash equivalents	at	1September 2021			(46,701)	(395,890)
Cash and cash equivalents	at	31August 2022		2	(96,164)	(46,701)

					2022	2021
					E	E
Net (outgoing)/ incoming			resources		53,209	85,643
Depreciation charges					250,811	228,864
Loss on disposal					3,550	687
Decrease/ (Increase)		in stocks			(29,278)	8,605
(Increase)/ Decrease		in debtors			(179,092)	(26,964)
(Decrease)/Increase		in creditors			135,512	284,167
Net cash provided	by operating			activities	234,712	581,002
ANALYSIS OF CASH	AND		CASH	EQUIVALENTS
					2022	2021
					E	E
Cash at bank and in	hand				3,039	3,193
Overdraft facility repayable on				demand	(99,203)	(49,894)
					(96,164)	(46,701)

INCOME
				2022	2021
				E	6
Fees receivable		consist of:
Gross fees				5,537,786	4,944,117
Less:Total Staff	bursaries, discounts		grants and allowances	(373,945) ~el i	(343,872) (221,349)
				4,936,200	4,378,896
SUNDRYAND		OTHER	INCOME
				2022	2021
				E	E
Use offacilities				112,981	29,688
Sundry income				36,533	153,394
Coronavirus	Job Retention Scheme				109,878
				149,514	292,960
STAFF COSTS
				2022	2021
				E	E
Wages and	salaries			2,752,374	2,533,292
Social security		costs		242,718	206,851
Other pension		costs		499,811	444,630
				3,494,903	3,184,773

STAFF COSTScontinue	d	d
The average monthly	number ofemployees		during the year was as follows:
					2022	2021
Teachers					80	69
Others					53	52
					133	121
The number ofemployees		whose emoluments		exceeded f60,000was:	2022	2021
f60,001 —f70,000
f70,001 —f80,000
f90,001 —f100,000
f110,001 —f120,000

The key personnel ofthe school	The key personnel ofthe school	The key personnel ofthe school	The key personnel ofthe school	comprise the	comprise the	comprise the	Governors, the I-lead and the Bursar. The total remuneration	Governors, the I-lead and the Bursar. The total remuneration	Governors, the I-lead and the Bursar. The total remuneration	Governors, the I-lead and the Bursar. The total remuneration	Governors, the I-lead and the Bursar. The total remuneration
the key management	personnel			was		f242,952	(2021-f213,705).With the exception ofthe above none ofthe
Governors nor persons		connected			with them		received any remuneration		or other material benefits from the
association or any connected			organisation.
EXPENDITURE
Expenditure includes:
										2022 f	2021f
Depreciation —owned	assets									245,867	223,920
Depreciation —assets	on	hire purchase				contracts				4,944	4,944
Operating lease rentals										15,161	18,806
Auditors' remuneration		—audit								9,340	9,200
		—accountancy								2,800	2,800
ANALYSIS OF TOTAL	RESOURCES			EXPENDED
										2022	2021
					Staff costs f		Otherf	Depreciation f		Total f	Tote I f
Charitable activities:
School operating costs:
Teaching costs					2,412,699		127,727	1'1,682		2,552,108	2,362,281
Welfare						525,558	314,686	45,365		885,609	742,039
Premises						191,988	502,463	177,999		872,450	876,497
Management and administration						364,658	308,992	15,765		689,415	567,468
					3,494,903		1,253,868	250,811		4,999,582	4,548,285
Governance costs							12,801			12,801	12,788
Costs ofgenerating	funds:
Finance and other costs							57,109			57,109	64,405
Tota I resources expended					3,494,903		1,323,778	250,811		5,069,492	4,625,478

STATEMENT OF	FINANCIAL	ACTIV	ITIES —	comparative balanc	es	es
					Unrestricted		Restricted	Total
						funds	funds	2021
						E		E
INCOME AND ENDOWMENTS		FROIIIU
Income from:
Charitable activities
Fees receivable						4,378,896		4,378,896
Other income						292,960		292,960
Donations and legacies						4,517	34,748	39,265
Total income and	endowments					4,676,373	34,748	4,711,121
EXPENDITURE
Expenditure on:
Charitable activities:
School operating	costs					4,586,447	39,031	4,625,478
Total expenditure						4,586,447	39,031	4,625,478
NET INCOME						89,926	(4,283)	85,643
Fund balances at	1September	2020				3,513,724	518,329	4,032,053
TOTAL FUNDS CARRIED FORWARD
AT31AUGUST 2021						3,603,650	514,046	4,117,696
TANGIBLE FIXEDASSETS
				Freehold	Furniture
				land and	and		Motor
				buildings	equipment		vehicles	Totals
COST:
At 1September 2021				8,576,246	851,011		81,696	9,508,953
Additions				25,607	58,786			84,393
Disposals				(1,320)	(178,093)			(179,413)
At 31August 2022				8,600,533	731,704		81,696	9,413,933
DEPRECIATION:
At 1September 2021				2,259,682	650,515		50,566	2,960,763
Charge for year				177,921	61,061		11,829	250,811
Eliminated on disposal				(130)	(172,733)			(172,863)
At 31August 2022				2,437,473	538,843		62,395	3,038,711
NET BOOK VALUE:
At 31August 2021				6,316,564	200,496		31,130	6,548,190
At 31August 2022				6,163,060	192,861		19,301	6,375,222
The cost offreehold	land and buildings		includes	land of62000 which	is not being	depreciated.

9.	STOCKS
					2022	2021
					E	E
	Raw materials	and consumables			67,329	41,143
	Goods for resale				29,880	26,788
					97,209	67,931
10.	DEBTORS:AMOUNTS FALLING
	DUE WITHIN ONE YEAR
					2022	2021
					E	E
	Trade debtors				1,299,305	1,192,507
	Other debtors				99,001	30,488
	Prepayments				93,510	89,729
					1,491,816	1,312,724
11.	CREDITORS: AMOUNTS		FALLING
	DUE WITHIN ONE YEAR				2022	2021
					E	E
	Bank loans and overdraft		(note 16)		252,251	246,205
	Hire purchase	agreements		(note 13)	5,589	5,589
	Trade creditors				140,694	187,124
	Other creditors				54,971	18,908
	Taxation and social security				56,532	51,120
	Accruals				62,023	74,296
	Entry deposits	repayable			150,719	124,733
	Deferred income (fees paid			in advance)
	Autumn	2022 fees			1,591,912	1,536,461
	Advance	fees scheme		(note 15)	133,219	150,892
					2,447,910	2,395,328
12.	CREDITORS: AMOUNTS		FALLING DUE AFTER MORE THAN ONE YEAR
					2022	2021
					E	E
	Bank loans (note 16)				897,374	1,051,304
	Hire purchase	agreements		(note 13)	15,615	21,204
	Deferred income (note 15)				270,492	182,306
	Entry deposits	repayable			164,990	164,200
					1,348,471	1,419,014

OBLIGAT	IONS U	NDER	HIRE	PURC	HASE C	ONTRACTS
								2022	2021
								E	f
Net obligations		repayable:
Within one year								5,589	5,589
Between	one and five		years					15,615	21,204
								21,204	26,793
SECURED DEBTS
The following secured			debts	are included		within creditors:		2022	2021
								E	f
Bank overdraft								99,203	49,894
Bankloan								1,050,422	1,247,615
								1,149,625	1,297,509
The bank	loan is	secured by		afirst	charge	over the freehold	property ofthe School.
DVANCE	FEE PAYMENTS
Assuming	pupils	will remain		in the	school,	advance fees will	be applied	as follows:
								2022	2021
								E	E
Within 2	to 5years							270,492	182,306
Over 5years
								270,492	182,306
Within 1year (included			in deferred		income)			133,219	150,892
								403,711	333,198
								E	E
Balance at 1September 2021								331,198	371,667
Advances	in the	year						297,656	150,401
Amounts	utilised	in payment		offees				(225,143)	(188,870)
Balance at 31August 2022								403,711	333,198

An analysis ofthe maturity	An analysis ofthe maturity	of	loans and overdrafts	2022	2021
				E	E
Amounts	falling due within	one year or on demand:
Bank overdraft				99,203	49,894
Bankloan				153,048	196,311
				252,251	246,205
Amounts	falling due between		one and two years:
Bank loan	—1-2years			161,149	153,930
Amounts	falling due between		two and five years:
Bank loan	—2-5 years			465,197	502,114
Amounts	falling due over five		years:
Bank loan	—over 5years			271,028	395,260

	2022	2021
Equipment	E	E
Expiring:
Within one year	13,452	15,651
Between one and five years	40,217	45,797
In more than five years		7,872

ALLOCATI	ON OF	THE CHARITY NET	ASSETS
			Fixed	Net	current		Long term
			assets	assets/	(liabilities)		liabilities	Tota I
			E		E			E
Restricted	funds		479,452		24,917			504,369
Unrestricted funds			5,895,770		(880,763)		(1,348,471)	3,666,536
			6,375,222		(855,846)		(1,348,471)	4,170,905
Allocation	ofthe	charity net assets - comparative figures
			Fixed	Net	current		Long term
			assets	assets/	(liabilities)		liabilities	Tata I
			E				E	E
Restricted	funds		514,046					514,046
Unrestricted funds			6,034,144	(1,011,480)			(1,419,014)	3,603,650
			6,548,190	(1,011,480)			(1,419,014)	4,117,696
RESTRICTED FUNDS
			Balance at	Movement		in	funds	Balance at
			1September	Incoming			Outgoing	31August
			2021	resources			resources	2022
			f					E
Gift fund			19,062					19,062
2006 Appeal fund			255,159				(7,072)	248,087
Cloisters, Studio and Sports Pavilion			208,451				(4,748)	203,703
Chisuma Project			1,936		316			2,252
Fire Suppression		System	2,483				(143)	2,340
Scholarship	fund			27,780			(27,780)
Solar Panels fund			25,197		988		(863)	25,322
Walled Garden fund			1,758		453		(78)	2,133
Friends of	Sandroyd			7,450			(5,980)	1,470
			514,046	36,987			(46,664)	504,369