## |Legal and administrative|information|information||| |---|---|---|---|---| |Introduction
from Chairman
and||Chief Executive||| |Objectives and activities||||| |Report ofthe Trustees|(including|the Strategic|Report)|| |Independent
Auditor's|Report to|the members|of Prep Schools Trust|15| |Statement
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(D| ||||||Prep Schools Trust|Prep Schools Trust|||| |---|---|---|---|---|---|---|---|---|---| ||||||Balance Sheet||||| ||||||31st August 2021||||| ||||||||2021||2020| ||||||||E'000||F'000| ||||||Note||||| |Fixed assets|||||||||| |Tangible assets|||||11||34,086||41,116| |investments|||||12||||| ||||||||34,086||41,116| |Current assets|||||||||| |Stock|||||13|82||88|| |Debtors|||||14|6,152||623|| |Cash at bank and|||in hand|||2,345||954|| |||||||8,579||1,665|| |Creditors: Amounts||falling due|||||||| ||within||one year||15|(7,931)||(8,784)|| |Net current assets/(liabilities}|||||||648||(7,119)| |Total assets less current assets/(liabilities)|||||||34,734||33,997| |Creditors: Amounts||falling due|||||||| ||after|one year|||16||(641)||(663)| |Net assets|||||||34,093||33,334| |Funds|||||||||| |Unrestricted
funds|||||||||| |Revaluation|reserve||||19||15,619||17,926| |Income and|expenditure|||account|19||16,068||14,447| |Designated|fund||||19||30||30| ||||||||31,717||32,403| |Restricted funds|||||||||| |Restricted|donations||||||2,376||931| ||||||||34,093||33,334| ## ## ## |||||2021||2020| |---|---|---|---|---|---|---| |||||E'000||f.'000| |Net income for year||||774||(2,060)| |Interest payabie||||112||139| |Impairment/depreciation
oftangible|fixed|assets||559||621| |Loss/(profit)
on disposal oftangible|fixed|assets||463||(12)| |Decrease/(increase)
in stocks||||6||(17)| |Decrease/(increase)
in debtors||||348||(152)| |Increase
in accrued income for sale|of property|||(5,877)||| |Increase/(decrease)
in creditors||||225||(570)| |New fees in advance||||29||262| |Fees in advance applied
in year||||(300)||(360)| |Fee composition
discount||||10||13| |(Losses)/gains
arising
from changes|in foreign exchange||rates|(15)||15| |Cash flow from operating
activities||||(3,666)||(2,121)| |Cash flow from investing
activities||||||| |Payments
to acquire tangible
fixed|assets||(763)||(284)|| |Receipts from sale oftangible
fixed|assets||894||22|| |Amounts
receivable
from sale oftangible||fixed assets|5,877|||| |Net cash flow from investing
activities||||6,008||(262)| |Cash flow from financing
activities:||||||| |Interest paid|||(122)||(152)|| |Net cash flow from financing
activities||||(122)||(152)| |Increase/(decrease)
in cash and cash|equivalents|||2,220||(2,535)| |Cash and cash equivalents
at 1stSeptember 2020||||(3,771)||(1,236)| |Cash and cash equivalents
at 31stAugust||2021||(1,551)||(3,771)| |Cash and cash equivalents
consist of:||||||| |Cash at bank and
in hand||||2,345||954| |Overdrafts||||(3,896)||(4,725)| |Cash and cash equivalents
at 31stAugust||2021||(1,551)||(3,771)| ## ## ## ## ## ## ## ## ## |School fe|es|||| |---|---|---|---|---| ||||2021|2020| ||||E'000|f'000| |Fees|||17,311|19,206| |Discounts|and|awards|(1,305)|(2,291)| ||||16,006|16,915| ## ||||||2021|2020| |---|---|---|---|---|---|---| ||||||6'000|f.'000| |Music tuition|and associated||income||324|333| |Extra tuition|||||216|155| |Occasional|boarding|and summer||lets|233|278| |Other income|||||273|166| ||||||1,046|932| ## |||2021|2020| |---|---|---|---| |||F'000|E'000| |Other|income|158|211| |||158|211| ## |Donations
and grants||| |---|---|---| ||2021|2020| ||E'000|E'000| |Donations|1,461|252| |CJRS grants|174|1,106| |Other grants|61|76| ||1,696|1,434| ## ## |||||Staff|Other|2021|2020| |---|---|---|---|---|---|---|---| |||||costs|costs|Total|Total| |||||E'000|E'000|E'000|E'000| |Teaching||||9,454|810|10,264|13,015| |Welfare||||1,101|1,089|2,190|2,915| |Premises||||547|2,084|2,631|2,652| |Support|costs|of|education|1,511|891|2,402|2,822| |||||12,613|4,874|17,487|21,404| |The major compone|nts|ofsuppo|rt costs include:-|||| |---|---|---|---|---|---|---| ||||||2021|2020| ||||||E'000|E'000| |Administrative
staff|costs||||1,482|1,644| |Postage, stationery,|telephone||and other administrative|costs|245|216| |Advertising
for staff|and|promotion|||170|172| |Bad debts|||||6|91| |Legal and professional||fees|||344|586| |Recruitment
fees|||||99|49| |Bank charges|||||4|16| |Governance
costs {seenote 7)|||||52|48| ||||||2,402|2,822| ## |Governance costs||||| |---|---|---|---|---| ||Staff|Other|2021|2020| ||costs|costs|Total|Total| ||E'000|E'000|E'000|E'000| |Staff|29||29|26| |Audit||23|23|22| ||29|83|52|48| ## ## ## |Staff costs and|employee
b|enefits|||||| |---|---|---|---|---|---|---|---| |||||||2021|2020| |||||||F'000|8'000| |Staff costs|||||||| |Wages and salaries
Social security costs
Pensions||||||10,662
876
1,075|13,862
1,132
1,504| |||||||12,613|16,498| |||||2021|2021|2020|2020| |||||FTE|Number|FTE|Number| |Average number
Trustees|employed|including|Trustees:|9|9|10|10| |Teachers||||230|347|245|368| |Household||||67|110|100|137| |Administration||||56|70|48|68| |||||362|536|403|579| ## ## ## |10.|Net resources|Net resources|expended||||| |---|---|---|---|---|---|---|---| |||||||2021|2020| |||||||E'000|R'000| ||Results|for the|year are|stated after charging:|||| ||Depreciation:|||owned assets||559|621| ||Auditor's|fees:||audit work||23|22| |||||non-audit|work|6|38| ||Operating|leases:||equipment
motor vehicles||12
71|21
94| ||Net loss/(gain)||on foreign|currency|translations|15|(15)| ## ## ## |Tangible fixed assets||||||| |---|---|---|---|---|---|---| ||||Fixtures,|Freehold|Assets under|| ||||Fittings
&|Land &|the course of|| ||Vehicles
f'000|Computers
F'000|Equipment
E'000|Buildings
E'000|construction
E'000|Total
f'000| |1stSeptember 2020|223|402|2,088|45,208|148|48,069| |Additions||14|106|6|637|763| |Disposals|(26)|(104)|(443)|(9,129)||(9,702)| |Reallocation||||54|(54)|| |31stAugust 2021|197|312|1,751|36,139|731|39,130| |Depreciation
and impairments||||||| |1st September 2020|138|214|1,351|5,250||6,953| |Depreciation|16|57|91|395||559| |Disposals|(26)|(68)|(390)|(1,984)||(2,468)| |31stAugust 2021|128|203|'I,052|3,661||5,044| |Net book value||||||| |31stAugust 2021|69|109|699|32,478|731|34,086| |31stAugust 2020|85|188|737|39,958|148|41,116| ## ## |Cost|| |---|---| |At 1st September 2020 and 31st August 2021|| |Provision against diminution|ofvalue| |At 1st September 2020 and 31stAugust 2021|| |Net book values|| |At 31stAugust 2021|| |At 31stAugust 2020|| ||The Trust ow|ns 100|%ofthe allotted|share capital of the|following
undertak|ings:|| |---|---|---|---|---|---|---|---| ||||||||Profit| ||||Country of|Class of|Nature of|Capital and|for| ||||registration|share capital
held|business|reserves at
31stAugust|year ended
31stAugust| |||||||2021|2021| |||||||f|F| ||CET Estates|Limited|England|Ordinary|Dormant|(1,184)|| ||||and Wales||||| ||PST||England|Ordinary|Events|54,760|73,781| ||Enterprises|Limited|and Wales||||| |13.|Stocks||||||| |||||||2021|2020| |||||||E'000|f.'000| ||Stock - consumables|||||82|88| |14.|Debtors||||||| |||||||2021|2020| |||||||R'000|E'000| ||Trade debtors|||||34|215| ||Other debtors|||||5,883|346| ||Prepayments|and accrued income||||235|62| |||||||6,152|623| ## ## ## ||||2021|2020| |---|---|---|---|---| ||||6'000|f'000| |Bank overdraft|and loan facility||3,896|4,725| |Trade creditors|||3,307|2,652| |Other taxation|and social security||224|277| |Other creditors|||262|407| |Accruals and deferred||income|242|723| ||||7,931|8,784| ## |Credit|ors: amounts
falling due after one y|ear|| |---|---|---|---| |||2021|2020| |||f'000|f'000| |Other|creditors|641|663| |||641|663| ## ## ## ## |unds|||||| |---|---|---|---|---|---| ||Restricted
donations
fund|Designated
fund|Revaluation
reserve|Income
and
expenditure|Total
2020| ||E'000|E'000|f'000|E'000|E'000| |At 1"September
2019|686|30|18,019|16,644|35,379| |Surplus/(deficit)
for
the year|245|||(2,290)|(2,045)| |Transfers
between
funds|||(93)|93|| |At 31"August and
1"September 2020|93 I|30|17,926|14,447|33,334| |Surplus/(deficit)
for
the year|1,445|||(686)|759| |Transfers
between
funds|||(2,307)|2,307|| |At 31"August 2021|2,376|30|15,619|16,068|34,093| ## |Analysis
of net assets|between
funds||||| |---|---|---|---|---|---| ||Restricted
donations
fund|Designated
fund|Revaluation
reserve|income
and
expenditure|Total
2021| ||E'000|F'000|E'000|E'000|E'000| |Fund balances at|||||| |31"August 2021 are|||||| |represented
by:|||||| |Tangible
fixed assets|120||15,619|18,347|34,086| |Net current
assets/(liabilities)|2,256|30||(1,638)|648| |Long term liabilities||||(641)|(641)| |At 31"August 2021|2,376|30|15,619|16,068|34,093| ||Restricted
donations
fund|Designated
fund|Reva luation
reserve|Income
and
expenditure|Total
2020| ||E'000|e.000|E'000|E'000|6'000| |Fund balances at|||||| |31"August 2019are|||||| |represented
by:|||||| |Tangible
fixed assets|83||17,926|23,107|41,116| |Net current
assets/(liabilities)|848|30||(7,997)|(7,119)| |Long term liabilities||||(663)|(663)| |At 31"August 2020|931|30|17,926|14,447|33,334| ## ## ## ## ||Total future|Total future|minimum
l|ease payments|under non-cancel|lable
operating
leases are|as follows:| |---|---|---|---|---|---|---|---| ||Expiring:||||||| |||||||2021|2020| |||||||6'000|E'000| ||Within|one|year|||68|99| ||Within|two|and five years|||56|117| |||||||124|216| |23.|Future|capital commitments|||||| |||||||2021|2020| |||||||f'000|F'000| ||Expenditure||authorised|and contracted|for|385||