2022-08-31-accounts

Governors
					J P Bennett (Chairman)
					A J Bark
					M R Booty (retired		22	June 2022)
					The Rt Rev C Fletcher
					CJ Easmon
					R Gunn
					WE Hart
					WW Lau
					R A Palmer (resigned			27 September 2022)
					P A Tolley
					KWalton (appointed		1 September 2022)
					J Norris (appointed		1 September 2022)
Secretary					H J Stapleton
Officers (Key management				personnel)	DJ Ettinger		Headmaster
					J C Stevens		Deputy Headmaster
					AE Uglow		Director ofStudies
					H J Stapleton		Bursar
					N A Black		Head of Prep School
					GJ Sheer		Director of Co-Curricular
					G Simpson		Director of Development
Registered	Office				Cokethorpe School
					Witney
					Oxon OX29 7PU
Company	Registration		Number		00767293
Charity Registration		Number			309650
Auditor					Wenn Townsend
					30St Giles
					Oxford OX1 3LE
Bankers					National Westminster			Bank pic
					21-23 High Street
					Witney
					Oxon OX28 6HW
Solicitors					Veale Wasbrough	Vizards
					Orchard Court
					Orchard Lane
					Bristol
					BS15WS

		Pages
Governors' annual report		1-12
Independent auditor's	report	13-14
Statement offinancial	activities	15
Balance sheet
Cash flow statement		17
Notes to the financial	statements	18-30

Committee Res onsibilit
AJ Bark	Finance and Estates/Nominations
J P Bennett (Chairman)	Finance and Estates
M R Booty	Finance and Estates/Nominations
The Rt Rev C Fletcher	Education
CJ Easmon	Education
R Gunn (Vice Chairman)	Education/Nominations
W E Hart	Finance and Estates
WWLau	Education
R A Palmer	Education
P A Tolley	Finance and Estates

					Unrestricted	Restricted	2022	2021
					Funds	Funds	Total	Total
					F	E		F
				Note
Income and endowments		from:
Income from charitable		activities
Fees					12,415,833		12,415,833	11,624,647
Other income					110,289	38,981	149,270	154,469
Interest receivable					582		582	168
Donations receivable
Government grants receivable								162,648
Other donations								1,169
Total income					12,526,704	38,981	12,565,685	11,943,101
Expenditure on:
Raising funds:
Financing costs					54,951		54,951	97,669
Fundraising costs					91,651		91,651
Total costs ofraising funds					146,602		146,602	97,669
Charitable expenditure
Teaching					6,543,714		6,543,714	6,393,885
Support and governance				4	1,595,299	3,674	1,598,973	1,430,048
Welfare					813,181		813,181	685,308
Premises					1,327,892		1,327,892	1,344,308
Bursaries and scholarships			awarded		1,582,737		1,582,737	1,562,1?2
Total costs of charitable		expenditure			11,862,823	3,674	11,866,497	11,415,721
Total expenditure					12,009,425	3,674	12,013,099	11,513,390
Net income					517,279	35,307	552,586	429,711
Transfers between funds				15	613	(613)
Net movement in funds					517,892	34,694	552,586	429,711
Reconciliation offunds
Fund balances brought	forward
at 1 September 2021					7,398,037	113,935	7,511,972	7,082,261
Net movement in funds					51?,892	34,694	552,586	429,711
Fund balances carried forward			at
31 August 2022				15/16	7,915,929	148,629	8,064,558	7,511,972

					2022		2021
					f.
Reconciliation of net income		to net cash flow
from operating activities:
Net income for year				552,586		429,711
Depreciation				407,490		409,184
Interest receivable				(582)		(168)
Interest payable				54,736		38,155
Profit on disposal of	fixed assets			(3,000)
Stocks movement				(17)		1,792
Debtors movement				(63)		76,645
Creditors movement				(11,962)		(94,788)
Fees in advance movement				110,399		(33,358)
Net cash provided	by operating activities				1,109,587		827,173
Net cash flow from	investing	activities:
Payments to acquire	tangible fixed assets			(1,379,699)		(1,068,513)
Receipts from sales	oftangible	fixed assets		3,000		11,049
interest received				582		168
					(1,376,117)		(1,057,296)
Net cash flow from	financing	activities:
Receipts from issue	of new long term loans			1,456,752
Repayment of loans				(62,585)		(283,769)
Interest paid				(54,?36)		(38,155)
					1,339,431		(321,924)
Increasel {decrease) in cash					1,072,901		(552,047)
Net decrease in cash and cash equivalents					1,072,901		(552,047)
Cash and cash equivalents		at 1 September	2021		1,993,396		2,545,443
Cash and cash equivalents		at 31August 2022			3,066,297		1,993,396

estimated	residual value, ofe	ach asset on	a sys	tematic basis over its e
Freehold	land	Nil
Freehold	buildings	Straight	line	basis at 2-4% per annum
Sports hall		Straight	line	basis at 4% per annum
Astroturf	pitches	Straight	line	basis at 5%per annum
Furniture	and equipment	Straight	line	basis at 10%per annum
Computer	equipment	Straight	line	basis at 25% per annum
Motor vehicles		Straight	line	basis at 20% per annum

				2022	2021
Administrative	staff costs			835,794	767,155
Computer maintenance				161,326	153,344
Postage, stationery, telephone		and other administrative	costs	36,780	41,103
Advertising for staff and promotion				176,597	165,901
Insurances				90,219	72,803
Travel				223,839	163,088
Depreciation	ofvehicles			26,516	35,448
Governance	costs (see note 5)			47,902	31,206
				1,598,973	1,430,048

5.	Governance	Governance	costs
						2022f	2021 F
	Auditor's	remuneration			audit fees	9,938	8,488
					other services	500	470
	Legal and	professional		fees		36,177	21,247
	Governors'		expenses			1,287	1,001
						47,902	31,206

							2022		2021
							F		Z
Staff costs
Wages and salaries						6,230,615			5,961,600
Social security costs							666,297		601,794
Pensions						1,062,600			1,034,074
						7,959,512			7,597,468
					2022	2022		2021	2021
					FTE	Number		FTE	Number
Average number employed		including		Governors	160	218		158	218
Number ofemployees	earning		within	the following	bands:
						2022			2021
E 60,001-E 70,000
E 70,001-E 80,000
F 80,001-E 90,000
E 90,001 - 2100,000
F110,001 - f120,000
2140,001 - f150,000

Tangible fixed assets
	Assets under	Freehold	Furniture and	Motor
	construction	Property	equipment	vehicles	Total
					F
1 September 2021	1,351,518	10,031,743	2,153,176	694,210	14,230,647
Additions	1,312,334		54,065	13,300	1,379,699
Transfer	(2,308,726)	2,308,726
Disposals				(22,223)	(22,223)
31 August 2022	355,126	12,340,469	2,207,241	685,287	15,588,123
Depreciation
1 September 2021		3,485,274	1,773,160	622,306	5,880,740
Charge for year		246,520	134,454	26,516	407,490
On disposals				(22,223)	(22,223)
31 August 2022		3,731,?94	1,907,614	626,599	6,266,007
Net book value
31 August 2022	355,126	8,608,675	299,627	58,688	9,322,116
31 August 2021	1,351,518	6,546,469	380,016	71,904	8,349,907

9.	Stocks
			2022	2021
	Stock - consumables		2,199	2,182
10.	Debtors
			2022	2021
	Trade debtors		213,420	236,521
	Other debtors		8,021	2,773
	Prepayments	and accrued income	125,685	107,769
			347,126	347,063

Creditors: amo	unts falling due within one year
		2022	2021
		f.
Bank loans (note 14)		250,340	116,199
Trade creditors		225,685	278,391
Other taxation	and social security	162,257	162,295
Other creditors			111,033
Accruals		230,527	90,402
Autumn fees in	advance	1,300,782	923,816
Deferred fee income (note 13)		161,227	337,452
		2,330,818	2,019,588

Creditor	s: amounts falling due after one year
		2022	2021
Bank loans (note 14)		1,796,266	527,049
Parents'	refundable deposits	304,060	301,561
Deferred	fee income (note 13)	242,036	332,3?8
		2,342,362	1,160,988
Deferred	income
		2022	2021
Balance	at 1 August 2021	669,830	842,246
Fees in advance receipts		49,779	138,076
Released to incoming resources		(316,346)	(310,492)
Balance	at 31 August 2022	403,263	669,830
Included	in current liabilities	161,227	337,452
Included	in creditors due after more than one year	242,036	332,378

Bank loans
The aggregate	amount of bank loans are as follows:
		2022	2021
			F
Due within one year or less, or on demand		250,340	116,199
Due between	one and two years	250,340	116,199
Due between	two and five years	751,020	410,850
Due after five	years	794,906
Total due		2,046,606	643,248
included in current liabilities		250,340	116,199
Included in creditors due after more than one year		1,796,266	527,049

Movements in fun	ds
			At	Incoming	Outgoing	Fund	At
2022			01/09/2021	resources	resources	transfer	31/08/2022
				F
Restricted funds:
Academic achievement		awards	35,576	1,686	(3,674)		33,588
School equipment
(including land)			78,359	37,295		(613)	115,041
Total restricted funds			113,935	38,981	(3,674)	(613)	148,629
Unrestricted funds:
General funds			1,291,067	12,526,704	(12,009,425)	(658,234)	1,150,112
Designated fund			6,106,970			658,847	6,765,817
Total unrestricted	funds		7,398,037	12,526,704	(12,009,425)	613	7,915,929
Total funds			7,511,972	12,565,685	(12,013,099)		8,064,558

Movement in fund	s	(co	ntinu	ed	)
							At	Incoming	Outgoing	Fund		At
2021						01/09/2020		resources f	resources f	transfer	31/08/2021 f
Restricted funds:
Academic achievement			awards				33,234	3,356	(1,014)			35,576
School equipment	(including			land)			78,081	1,169	(526)	(365)		78,359
Total restricted funds							111,315	4,525	(1,540)	(365)		113,935
Unrestricted funds:
General funds							914,525	12,293,532	(11,866,806)	(50,184)	1,291,067
Designated fund						6,056,421				50,549	6,106,970
Total unrestricted	funds					6,970,946		12,293,532	(11,866,806)	365	7,398,03?
Total funds						7,082,261		12,298,057	(11,868,346)		7,511,972
Restricted funds comprise				the following:
									2022		2021
Academic achievement			awards:
Cokethorpe Society		—Subscnptions				Fund			33,587			35,576
School equipment		(including			land):
Annual Fund								69,458		66,171
Ice Cream Machine								1,823		2,188
Development ofScience								10,000		10,000
Bursary fund								26,562
Radio studio								7,199
									115,042			78,359
									148,629		113,935
Designated funds	comprise			the		following:
Mansion Stonework									145,335		145,335
Boathouse									58,414			58,414
Property									6,562,068		5,903,221
									6,765,817		6,106,970

Analysis of net a	ssets betwee	n funds
		Unrestricted		Designated	Restricted	Total
		Funds		funds	fundsf	funds E
Fund balances at	31 August 2022 are represented		by:
Tangible fixed assets		695,528		8,608,675	17,913	9,322,116
Cash at bank and	in hand	2,731,833		203,748	130,716	3,066,297
Other net current	liabilities	(1,731,153)		(250,340)		(1,981,493)
Long term liabilities		(546,096)		(1,796,266)		(2,342,362)
		1,150,112		6,765,817	148,629	8,064,558
		Unrestricted		Designated	Restricted	Total
		Funds		funds	funds	funds
				E		E
Fund balances at	31 August 2021 are represented		by:
Tangible fixed assets		1,785,160		6,546,469	18,278	8,349,907
Cash at bank and	in hand	1,693,990		203,749	95,657	1,993,396
Other net current	liabilities	(1,554,144)		(116,199)		(1,6?0,343)
Long term liabilities		(633,939)		(527,049)		(1,160,988)
		1,291,067		6,106,970	113,935	7,511,972

The total future minimum lease payments under	non-cancellable operating leases ar	e payable as fol
	2022	2021
	f.	E
Equipment:
Within one year	136,442	106,637
Between one and five years	175,753	279,090
	312,195	385,?27
	2022	2021
		E
Land and buildings:
Within one year	39,058	36,700
Between one and five years	84,374	102,520
Later than five years	56,316
	179,748	139,220

Statement offinancial a	Statement offinancial a	ctivities —comparative	figures by fund-type
Period ended 31 August		2021
			Unrestricted	Restricted	2021
			Fundsf	Fundsf	Totalf
Income and endowments		from:
Income from charitable		activities
Fees			11,624,647		11,624,647
Other income			151,113	3,356	154,469
Interest receivable			168		168
Donations receivable
Government grants receivable			162,648		162,648
Other donations				1,169	1,169
Total income			11,938,576	4,525	11,943,101
Expenditure on:
Raising funds:
Financing costs			97,669		97,669
Fundraising costs
Total costs of raising funds			97,669		97,669
Charitable expenditure
Teaching			6,393,885		6,393,885
Support and governance			1,428,508	1,540	1,430,048
Welfare			685,308		685,308
Premises			1,344,308		1,344,308
Bursaries and scholarships		awarded	1,562,172		1,562,1?2
Total costs ofcharitable		expenditure	11,414,181	1,540	11,415,721
Total expenditure			11,511,850	1,540	11,513,390
Net income			426,726	2,985	429,711
Transfers between funds			365	(365)
Net movement in funds			427,091	2,620	429,711
Reconciliation offunds
Fund balances brought	forward
at 1 September 2020			6,970,946	111,315	7,082,261
Net movement in funds			427,091	2,620	429,711
Fund balances carried forward at
31 August 2021			7,398,037	113,935	7,511,972

					2022		2021
Income
Fees				10,833,096		10,062,475
Other operating		income		149,270		155,638
Government	grants					162,648
Interest receivable				582		168
					10,982,948		10,380,929
Expenditure
Teaching
Education materials				212,163		208,901
Sports				38,843		29,319
Activities				24,606		22,878
Subscriptions				52,430		20,895
Education —other				68,438		69,188
Training courses				21,756		23,661
Depreciation	offurniture		and equipment	134,454		159,537
Saiaries				5,991,024		5,859,506
				6,543,714		6,393,885
Support
Printing, postage		and stationery		32,360		17,216
Telephone				19,587		19,441
Miscellaneous				4,420		4,446
Computer maintenance				141,739		153,344
Advertising	recruitment			29,189		57,291
Advertising				147,408		108,610
Insurances				90,219		72,803
Travel (including		salaries)		223,839		163,088
Depreciation	ofvehicles			26,516		35,448
Salaries				835,794		767,155
				1,551,071		1,398,842
Welfare
Catering				426,175		307,241
Medical				8,755		11,791
Salaries				378,251		360,406
Bad debts						5,870
				813,181		685,308