2022-08-31-accounts - St Hugh's School (Carswell) Trust Limited

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		Unrestricted	Restricted	Total	Total
		Funds	Funds	2022	2021
	Notes	6	6	E	E
INCOME FROM:
Charitable activities:
School income	3	6,356,484		6,356,484	5,028,729
Additional activities	3	47,404		47,404	26,449
Furlough income	3				224,536
Other trading activities:
Fundraising and trading	4	197,236	24,290	221,526	95,145
Investments:
Bank interest		93	1	94	131
Total income		6 601 217	24 291	6 625 508	6374 990
EXPENDITURE
Expenditure on raising funds:
Fundraising and trading	5	(12,873)	(25,588)	(38,461)	(18,638)
Expenditure on charitable activities: School operating costs	5	06935332)	~8)	~6935 340	700203052
Total		36948205)	~25596)	)6973801)	700221690
NET MOVEMENTS BEFORE GAINS		(346,988)	(1,305)	(348,293)	153,300
Gains on investment property		148356		148356
NET MOVEMENTS IN FUNDS		(198,632)	(1,305)	(199,937)	153,300
Funds brought forward
1September 2021
Funds carried forward at 31 August 2022	14 & 15	~6~8

				2022	2021
			Notes	6
FIXED ASSETS
School land, buildings		and equipment	9	9,245,455	9,606,048
CURRENT ASSETS
Stock			10	2,310	1,380
Debtors			11	180,407	220,947
Cash at bank and	in hand			379 5D8	790250
				562,225	1,012,577
CREDITORS: Amounts		falling due within one year	12	~4425 312)	~1722584
NET CURRENT LIABILITIES				~383D87)	710007
TOTAL ASSETS	LESSCURRENT LIABILITIES			8,382,368	8,896,041
CREDITORS: Amounts		falling due after more than one year	13	~38983D2	~4212 038
NET ASSETS
Unrestricted funds			14	4,468,189	4,666,821
Restricted funds			15	15877	17182
TOTAL FUNDS			16	~4I~6	~4003

	Cash Flows from Operating Activities	Cash Flows from Operating Activities	Cash Flows from Operating Activities	Cash Flows from Operating Activities			2022f		2021f
	Net (outgoing)/ incoming	resources				(199,937)			153,300
	Adjustments for:
	Depreciation						549,223		602,778
	Loss on disposal offixed	assets							5,278
	Investment income						(94)		(131)
	Interest paid						143,573		150,460
	(Increase)/ decrease in stock						(930)		2,120
	Decrease/ (increase) in debtors (Decrease)/ increase in creditors				40,540 ~257 4D3				(86,221) 300938
	Net cash provided by operating		activities				274,972		1,128,522
	Cash flows from financing	activities
	Interest paid Capital repayments in the	year			(143,573) ~3536051			(150,460) ~3077 3
	Net cash used in by financing		activities			(497,178)			(458,233)
	CASH FLOWS FROM INVESTING			ACTIVITIES
	Purchase offixed assets						(40,274)		(195,668)
	Revaluation gain on investment		property			(148,356)
	Investment income						94		131
	Net cash used in investing	activities				(188,536)			(195,537)
	NET (DECREASE)/ INCREASE		IN	CASH		(410,742)			474,752
	CASH AND CASH EQUIVALENTS			AT 1 SEPTEMBER			790 25D		315490
	CASH AND CASH EQUIVALENTS			AT 31 AUGUST
	COMPONENTS OF CASH	AND	CASH EQUIVALENTS
	Cash at bank						377,748		789,470
	Cash in hand						176D		780
Analysis ofchanges in net debt:					A/1				At 31
					September		Cash		August
					2021 f'000		Flow f'000		2022 f'000
Cash					789,470		(411,722)		377,748
Cash	in hand					780		980	1,760
Bank	Loans & Overdrafts				(4,383,140)		353,605		(4,029,535)
Fees	in advance				(8,565)				(8,565)
Pupil	entry deposits				(188,000)		10,000		(178,000)
					(3,789,455)		(47,137)		(3,836,592)

EXPENDITURE
					2022f	2021f
Costs of generating	funds:
Trading costs					12,873	14,690
Restricted expenditure					25 588	3943
Total cost ofgenerating		funds			38461	18638
Charitable Activities:
School operating costs:
Teaching					3,555,006	3,238,419
Welfare					855,484	683,196
Premises					1,369,406	1,336,882
Support costs (see	note	6)			1,155,436	944,526
Donation/prizes					8	29
					6935340	6 203 052
Total expenditure
Included in premises	costs is a depreciation				charge off549,223 (2021:f602,778).
SUPPORT COSTS
					2022 f.	2021f
Salaries					496,788	420,238
Office and other administration			costs		440,408	308,176
Finance costs					162,355	169,420
Governance costs (see		note 7)			M 885	46692
GOVERNANCE COSTS
					2022f	2021f
Auditor's remuneration		-audit			16,279	17,220
Auditor's remuneration		—non-audit		services		1,194
Governors training	and	expenses			297
Professional, legal	and	consultancy		fees	35,447	23,133
Statutory inspection	costs				3862	5145

TAFF COSTS
			2022 E	2021f
Wages and salaries			3,402,587	3,095,260
Social security costs			344,074	303,713
Other pension costs			456 264	444 425
The average number ofpersons	employed	by the	2022	2021
company during the year:			Number	Number
Teaching			88	83
Non-Teaching			30	25

ter than E60	,000:
2022	2021
Number	Number

9.	TANGI	BLE FIXEDA	SSETS
			Freehold
			Property &			Fixtures	Assets in the
		Investment	Improve-	Sports	School	8 equip-	course of
		Property	ments	equipment	equipment	ment	construction	Total
		5	5	5			6	5
Cost
1 September	2021	892,785	12,274,830	73,027	996,910	442,434	57,192	14,737,178
Additions					1,145		39,129	40,274
Transfers Revaluahon 31 August 2022		8,859 14l4~ ~QQQQQQ	3,533 ~22TIL3Q3	~2	55,790 1 053845	11,173 453607	(79,355) 16966	~48 356 ~14925 808
Accumulated
Depreciation
1 September	2021		4,204,837	27,314	638,033	260,946		5,131,130
Charge for the year			410,026	7,021	90,462	41,714		549,223
Disposals
31 August 2022			4614863	34335	728495	302 660		~5680 353
Net book values
31 August 2022		~5aQQQ	~5325QQ
1 September	2021

REDITORS —amounts falling due within o	ne year
	2022	2021
	6	5
Bank loans	308,233	355,102
Pupil entry deposits	1,000	4,000
Advance fees	8,565	8,565
Trade creditors	80,311	216,941
Social security costs	124,083	72,482
Other creditors	28,021	17,157
Accruals	89,633	168,891
Deferred income	785466	879 446

Analysis ofdeferred income	2022	2021
	6	E
Deferred income balance at 1 September	879,446	703,950
Fees received Fees released to surplus	785,466 ~879 4461	879,446 ~703950
Deferred income balance at 31 August

RED	ITOR	S —amounts falling due after o	ne year
			2022 6	2021f
Bank	loan		3,721,302	4,028,038
Pupil	entry	deposits	177000	184000

Analysis	ofdebt maturity	Bank	Fees	Pupil
2022:		Loans &	in	entry
		overdrafts	advance	deposits	Total
		6	5	E	E
Amounts	payable:
Greater	than, or equal to 1 year	308,233	8,565	1,000	317,798
Between	1-2years	259,600		17,500	277,100
Between	2-5 years	1,096,570		69,500	1,166,070
Greater	than 5years	2 365132		90000	2455 132
Analysis	ofdebt maturity	Bank	Fees	Pupil
2021:		Loans &	in	entry
		overdrafts B	advance f	deposits 5	Total
Amounts	payable:
Greater	than, orequal to 1year	355,102	8,565	4,000	367,667
Between	1-2years	307,444		20,000	327,444
Between	2-5years	807,440		68,000	875,440
Greater	then 5years	2913154		96000	3009 154

ESTRICTED FUNDS	—movement in	the year
	A/ 31				At
	September				31 August
	2021 f	Income f	Expended	Transfer f	2022 f
Cannon Classic Prize	157				157
Friends ofSt Hugh's	5,042	24,290	(25,588)		3,744
Helm Poetry Fund	296				296
Professor McFarlane
Prize Fund	161		(8)		163
Paul Snow Memorial Prize Fund	11526				~11527

ANALYSIS	OF NET ASS	ETS BETWEEN FUND	S
		Tangible	Current
		fixed assets	assets/	Long term	Total
			(liabilities) f	liabilities f	2022 f.
Restricted	funds		15,877		15,877
Unrestricted	funds	9 245 455	~878 964)	3898302	~4468 189

the end of the year the following annual commitmen er operating leases:	ts existed in respect of non-cancellable	ts existed in respect of non-cancellable
	Land and buildings
	2022 f	2021 f
Leases:
Greater than, or equal to 1 year	14,827	12,936
Between 1-2years	15,034	14,827
Between 2-5 years	45,754	45,103
More than five years	12546	27797

			2022f	2021f
Agreements	expiring:
In one year or less			168,600	159,022
In more than	one year but not more than two	years	136,616	147,117
In more than	two years but not more than five	years	101,899	159,296
More than five years			13545
The expense for the year in relation to operating		leases was:
			2022	2021
			f.
Leases:
Land and buildings			12,936	3,864
Maintenance	and hire agreements		174575	131878
			't¹~

		Unrestricted	Restricted	Total
		Fundsf	Funds f	2021 f
INCOME FROM:
Donations and legacies:
Donations
Charitable activities:
School income	3	6,028,729		6,028,729
Additional activities	3	26,449		26,449
Furlough income	3	224,536		224,536
Other trading activities: Fundraising and trading	4	91,655	3,490	95,145
Investments:
Bankinterest		130		131
Total income		637t 699	3491	6374 990
EXPENDITURE
Expenditure on raising funds:
Fundraising and trading	5	(14,690)	(3,948)	(18,638)
Expenditure on charitable activities: School operating costs	5	~6 203 023	~29	~6 203 052
Total		~6217713	~3977	~6221 690
NET MO VEMENTS IN FUN DS		153,786	(486)	153,300
Funds brought forward
1 September 2020
Funds canied forward at
31August 2021