2023-08-31-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			13
Notes to the Cash Flow	Statement
Notes to the Financial Statements			13

			Unrestricted	Restricted	Total	Total
			funds	funds	2023	2022
		Notes	E	E	6	6
INCOME AND ENDOWMENTS	FROM:
Income from:
Charitable activities
Fees receivable		2	5,158,994		5,158,994	4,936,200
Other income		3	147,208		147,208	149,514
Donations and legacies			3,649	57,790	61,439	36,987
Total income and endowments			5,309,851	57,790	5,367,641	5,122,701
EXPENDITURE
Expenditure on:
Charitable activities:
School operating costs			5,315,097	23,745	5,338,842	5,069,492
Total expenditure		6	5,315,097	23,745	5,338,842	5,069,492
NET INCOME/(EXPENDITURE)			(5,246)	34,045	28,799	53,209
Fund balances at 1September	2022		3,666,536	504,369	4,170,905	4,117,696
TOTAL FUNDS CARRIED FORWARD
AT31AUGUST 2023			3,661,290	538,414	4,199,704	4,170,905

				2023		2022
			Notes
FIXED ASSETS:
Tangible assets					6,687,412		6,375,222
CURRENT ASSETS:
Stocks			9	75,477		97,209
Debtors			10	1,259,266		1,491,816
Cash at bank and in hand				1,442		3,039
				1,336,185		1,592,064
CREDITORS:	Amounts	falling
due within one	year		11	2,541,365		2,447,910
NET CURRENT LIABIUTIES					(1,205,180)		(855,846)
TOTAL ASSETS	LESSCURRENT
UABILITTES:					5,482,232		5,519,376
CREDITORS:
Due after more	than one year		12		(1,282,528)		(1,348,471)
					64,199,704		E4,170,905
RESERVES:
Restricted funds			20		538,414		504,369
Unrestricted funds					3,661,290		3,666,536
					64,199,704		64,170,905

						2023	2022
					Notes	E	f
Net cash provided by
operating activities						498,856	234,712
Cash flows from investing	activities:
Purchase oftangible assets						(580,390)	(84,393)
Proceeds of disposals							3,000
Net cash used in investing	activities					(580,390)	(81,393)
Cash ffows from financing	activities:
Loan repayments						(152,047)	(197,193)
Capital repayments in the	year					(5,590)	(5,589)
Net cash used in by financing		activities				(157,637)	(202,782)
Change In cash and cash equivalents			In the	year		(239,171)	(49,463)
Cash and cash equivalents	at	1September		2022		(96,164)	(46,701)
Cash and cash equivalents	at	31August 2023			2	(335,335)	(96,164)

					2023	2022
					E	E
	Net incoming resources				28,799	53,209
	Depreciation charges				267,798	250,811
	Loss on disposal				402	3,550
	Decrease/(Increase)	in stocks			21,732	(29,278)
	Decrease/(Increase)	in debtors			232,550	(179,092)
	(Decrease)/Increase	in creditors			(52,425)	135,512
	Net cash provided	by operating		activities	498,856	234,712
2.	ANALYSIS OF CASH	AND CASH		EQUIVALENTS
					2023	2022
					E	E
	Cash at bank and in	hand			1,442	3,039
	Overdraft facility repayable		on	demand	(336,777)	(99,203)
					(335,335)	(96,164)

INCOME
				2023	2022
				E	E
Fees receivable	consist of:
Gross fees				5,930,002	5,537,786
Less: Total bursaries,		grants, allowances	and staff discounts	(771,008)	(601,586)
				5,158,994	4,936,200
SUNDRY AND	OTHER	INCOME
				2023	2022
				E	E
Use offacilities				98,759	112,981
Sundry income				48,449	36,533
				147,208	149,514
STAFF COSTS
				2023	2022
				E	E
Wages and salaries				2,840,264	2,752,374
Social security	costs			248,328	242,718
Other pension	costs			478,185	499,811
				3,566,777	3,494,903

The average	monthly num	ber ofemployees du	nng the year was as follows:
				2023	2022
Teachers				63	80
Others				65	53
				128	133
The number	of employees	whose emoluments	exceeded f60,000was:	2023	2022
f60,001-f70,000
f70,001 - E80,000
f110,001 —f120,000
f120,001 -	f130,000

EXPENDITURE Expenditure includes:
							2023	2022
							f	f
Depreciation -owned	assets						262,854	245,867
Depreciation -assets	on	hire purchase		contracts			4,944	4,944
Operating lease rentals							14,448	15,161
Auditors' remuneration		—audit					10,100	9,340
		—accountancy					6,000	2,800
ANALYSIS OF TOTAL	RESOURCES		EXPENDED
							2023	2022
			Staff costs		Other	Depreciation	Tota I	Total
				f	f	f	f	f
Charitable activities:
School operating costs:
Teaching costs			2,434,194		198,197	15,142	2,647,533	2,552,108
Welfare				546,272	359,173	38,292	943,737	885,609
Premises				208,985	471,105	203,923	884,013	872,450
Management and administration				377,326	354,953	10,441	742,720	689,415
			3,566,777		1,383,428	267,798	5,218,003	4,999,582
Governance costs					16,100		16,100	12,801
Costs ofgenerating	funds:
Finance and other costs					104,739		104,739	57,109
Total resources expended			3,566,777		1,504,267	267,798	5,338,842	5,069,492

STATEMENT OF FINANCIAL	ACTIVITIES —	comparative balances
			Unrestricted	Restricted	Total
			funds	funds	2022
			F.	E	E
INCOME AND ENDOWMENTS	FROM:
Income from:
Charitable activities
Fees receivable			4,936,200		4,936,200
Other income			149,514		149,514
Donations and legacies				36,987	36,987
Total Income and endowments			5,085,714	36,987	5,122,701
EXPENDITURE
Expenditure on:
Charitable activities:
School operating costs			5,022,828	46,664	5,069,492
Total expenditure			5,022,828	46,664	5,069,492
NET INCOME			62,886	(9,677)	53,209
Fund balances at 1September	2021		3,603,650	514,046	4,117,696
TOTAL FUNDS CARRIED FORWARD
AT 31AUGUST 2022			3,666,536	504,369	4,170,905
TANGIBLE FIXED ASSETS
		Freehold	Furniture
		land and	and	Motor
					Tata Is
COST:
At 1September 2022		8,600,533	731,704	81,696	9,413,933
Additions		506,337	74,053		580,390
Disposals				(11,419)	(11,419)
At 31August 2023		9,106,870	805,757	70,277	9,982,904
DEPRECIATION:
At 1September 2022		2,437,473	538,843	62,395	3,038,711
Charge foryear		203,735	56,882	7,181	267,798
Eliminated on disposal				~11,017)	(11,017)
At 31August 2023		2,641,208	595,725	58,559	3,295,492
NET BOOK VALUE:
At 31August 2022		6,163,060	192,861	19,301	6,375,222
At 31August 2023		6,465,662	210,032	11,718	6,687,412

				NOTES TO THE FINANCIAL STATEMENTS for the year ended 31August 2023
9.	STOCKS
					2023	2022
					E	E
	Raw materials	and consumables			46,788	67,329
	Goods for resale				28,689	29,880
					75,477	97,209
10.	DEBTORS:AMOUNTS FALUNG
	DUE WITHIN ONE YEAR
					2023	2022
					E	E
	Trade debtors				1,097,559	1,299,305
	Other debtors				70,840	99,001
	Prepayments				90,867	93,510
					1,259,266	1,491,816
11.	CREDITORS: AMOUNTS		FALLING
	DUE WITHIN ONE YEAR				2023	2022
					E	E
	Bank loans and	overdraft	(note 16)		498,926	252,251
	Hire purchase	agreements		(note 13)	5,589	5,589
	Trade creditors				48,236	140,694
	Other creditors				21,613	54,971
	Taxation and social secunty				58,636	56,532
	Accruals				40,835	62,023
	Entry deposits	repayable			119,507	150,719
	Deferred income (fees paid			in advance)
	Autumn	2023 fees			1,577,199	1,591,912
	Advance	fees scheme		(note 15)	170,824	133,219
					2,541,365	2,447,910
12.	CREDITORS: AMOUNTS		FALLING DUE AFTER MORE THAN ONE YEAR
					2023	2022
					E	E
	Bank loans (note 16)				736,226	897,374
	Hire purchase	agreements		(note 13)	10,025	15,615
	Deferred income (note		15)		312,109	270,492
	Entry deposits	repayable			224,168	164,990
					1,282,528	1,348,471

										2023	2022
										E	6
	Net obligations		repayable:
	Within one year									5,589	5,589
	Between	one and five years								10,025	15,615
										15,614	21,204
14.	SECURED DEBTS
	The following secured debts				are included			within creditors:		2023	2022
										E	6
	Bank overdraft									336,777	99,203
	Bankloan									898,375	1,050,422
										1,235,152	1,149,625
	The bank	loan is	secured	by	a	first	charge	over the freehold	property	ofthe School.
15.	ADVANCE	FEE PAYMENTS
	Assuming	pupils	will remain		in	the	school,	advance fees will	be applied as follows:
										2023	2022
										f	6
	Within 2	to 5years								312,109	270,492
	Over 5years
										312,109	270,492
	Within 1year (included			in deferred			income)			170,824	133,219
										482,933	403,711
										6	6
	Balance	at 1September		2022						403,711	331,198
	Advances	in the	year							300,125	297,656
	Amounts	utilised in payment				offees				(220,903)	(225,143)
	Balance	at 31August 2023								482,933	403,711

An analysis ofthe maturity	An analysis ofthe maturity	of	loans and overdrafts	2023	2022
				E	E
Amounts	falling due within	one year or on demand:
Bank overdraft				336,777	99,203
Bankloan				162,149	153,048
				498,926	252,251
Amounts	falling due between		one and two years;
Bank loan	—1-2years			168,996	161,149
Amounts	falling due between		two and five years:
Bank loan	—2-5 years			426,980	465,197
Amounts	falling due over	five	years:
Bank loan	—over 5years			140,250	271,028

The total future minimum payments due on leases expiring:
	2023	2022
Equipment	E	E
Expiring:
Within one year	13,452	13,452
Between one and five years	26,765	40,217

ALLOCATION	OF	THE CHARITY NET	ASSETS
			Fixed	Net	current		Long term
			assets	assets/	(liabilities)		liabilities	Tote I
			E		6			6
Restricted funds			513,890		24,524			538,414
Unrestricted	funds		6,173,522	(1,229,704)			(1,282,528)	3,661,290
			6,687,412	(1,205,180)			(1,282,528)	4,199,704
Allocation ofthe		charity net assets - comparative Rgures
			Fixed	Net	current		Long term
			assets	assets/	(liabilities)		liabilities	Tata I
			E		E		6	f
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
RESTRICTED	FUNDS
			Balance at	Movement		in	funds	Balance at
			1September	Incoming			Outgoing	31August
			2022	resources			resources	2023
			E					E
Gift fund			19,062					19,062
2006 Appeal	fund		248,087				(7,072)	241,015
Cloisters, Studio		and Sports Pavilion	203,703				(4,748)	198,955
Chisuma Project			2,252				(2,091)	161
Fire Suppression		System	2,340				(143)	2,197
Solar Panels	fund		25,322		988		(863)	25,447
Walled Garden fund			2,133		396		(188)	2,341
Friends ofSandroyd			1,470	6,870			(5,006)	3,334
Borehole fund				48,000			(2,399)	45,601
Club 1888					301			301
Car Club				1,235			(1,235)
			504,369	57,790			(23,745)	538,414