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|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|
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||||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|
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|||||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)|
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||||||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)|
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|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|
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|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|
##
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|An analysis ofthe maturity|An analysis ofthe maturity|of|loans and overdrafts|is given below:|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|
##
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|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|
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|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|
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