##
##
##
|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||