#
||CONTENTS|
|---|---|
|
GOVERNORSANDEXECUTIVEOFFICERS
ss
:|
a|
|KEYMANAGEMENTPERSONNELANDCORPORATEINFORMATION..........cccsscesssesssseeees4||
|REPORTOFTHEGOVERNORSFORTHEYEARENDED31JULY2021...........sccssssesseeeeees5-18||
|INDEPENDENTAUDITOR’SREPORTTOTHEGOVERNORS||
|
OFTHECORPORATIONOFOUNDLE SCHOOL......cee
eeeeseeeseee
"|
--19-21|
|CONSOLIDATEDSTATEMENTOFFINANCIALACTIVITIES||
|
FOR THEYEARENDED 31JULY 202)scsssssessscsccesswsmnenectonsexacsaxamansvaacsncanennneasanas|
tana
22|
|CORPORATIONSTATEMENTOFFINANCIALACTIVITIES||
|FOR THEYEARENDEDS1JULY202)cenenmnmeneeeemee23||
|CONSOLIDATEDANDCORPORATIONBALANCESHEETSASAT31|JULY 2021............24|
|STATEMENTOFCONSOLIDATEDCASHFLOWS||
|
PORTHEYEARENDED31JULY202.1onnccnmunansmneeEEE
25||
|NOTESTOTHEFINANCIALSTATEMENTSsssssascascasssssaesccasnmmnomnanconmamartancmcee26-56||
##
#
#
#
#
#
#
|||YearEnded|YearEnded|
|---|---|---|---|
|||31 July2021|31 July 2020|
|
|
Note|
£’000|
£’000|
|CASH FLOWS FROM OPERATINGACTIVITIES:||||
|
Netcash generated from operating activities|
32|
2,948|
4,176|
|
Cash flows from investing activities:||||
|Dividends and interestfrom investments|6|494|501|
|Proceeds from the sale of investments|16|-|13,496|
|Purchase of investments|16|(682)|(14,383)|
|Proceeds from thesale oftangible fixed assets||7|69|
|Purchaseoftangible fixed assets||(4,276)|(19,846)|
|
Netcash usedin investingactivities|
|
(4,457)|
(20,163)|
|Cash flowsfrom financing activities:||||
|Receipt ofloan||~|20,000|
|Loan repayments||(2,036)|(506)|
|Interest payable||(353)|(193)|
|Receipts ofendowments|7|254|98|
|Newfees in advance|25|1,131|1,762|
|Fees in advance usedto payfees|25|(1,447)|(2,210)|
|
Fees in advancepaid to other schools|
25|
(27)|
(62)|
|
Net cash generatedfrom financing activities|
|
(2,478)|
18,889|
|
Changein cash and cash equivalents in the reportingyear||
(3,987)|
2,902|
|Cash and cash equivalents broughtforward||23,469|20,567|
|
Cash and cash equivalents atthe end ofthe reportingyear||
19,482|
23,469|
|
Cash held||
19,482|
23,469|
|
Cash held in investments||
-|
-|
|
Total cash and cash equivalents|
|
19,482|
23,469|
#
||YearEnded|YearEnded|
|---|---|---|
||31 July 2021|31 July 2020|
|
Group|
£’000|
£’000|
|
Facilities lettings|
116|
160|
|Rents received|198|194|
|Commissions and discounts|36|45|
|Other|7|14|
|
Total|
357|
413|
|
Corporation|
£’000|
£’000|
|
Rents received|
198|
194|
|Commissions and discounts|36|45|
|
Other|
7|
14|
|
Total|
241|
253|
##
||YearEnded|YearEnded|YearEnded|
|---|---|---|---|
||31|July2021|31 July 2020|
|
Group||
£’000|
£’000|
|
Income from managed investments||
486|
423|
|
Bankinterest receivable||
9|
78|
|
Total|
|
494|
501|
|Corporation||£’000|£’000|
|
Bankinterest receivable||
15|
79|
|Gift aid from subsidiaries||~|=|
|
Total|
|
15|
79|
||NOTESTOTHE|FINANCIALSTATEMENTS|FINANCIALSTATEMENTS|FINANCIALSTATEMENTS|FINANCIALSTATEMENTS|FORTHEYEAR ENDED31|FORTHEYEAR ENDED31|JULY2021|
|---|---|---|---|---|---|---|---|---|
|7. Incomefrom donationsandgifts|||||||||
|||Unrestricted|||Restricted|Endowment|YearEnded|Year Ended|
|||income|funds|income funds||Funds|31 July 2021|31 July 2020|
|
Group|||
£’000||
£’000|
£’000|
£’000|
£’000|
|
Bursaries|
& scholarships||
72||
538|
254|
864|
714|
|New buildings& equipment|||-||314|~|314|289|
|Revenueexpenditure|||~||4|=|4|550|
|
Total|
|
|
72|
|
856|
254|
1,182|
1,553|
|||Unrestricted|||Restricted|Endowment|YearEnded|YearEnded|
|||incomefunds||incomefunds||Funds|31July2021|31 July2020|
|Corporation|||£’000||£’000|£’000|£’000|£’000|
|
Bursaries|
& scholarships||
74||
1,304|
.|
1,378|
1,497|
|New buildings & equipment|||-||623|~|623|583|
|Revenue expenditure|||=||3|~|3|3|
|
Total|
|
|
74|
|
1,930|
-|
2,004|
2,083|
|8. Charitable activities|||||||||
|||||||Depreciation|||
|||||||and capital|||
|||||||profits and|YearEnded|Year Ended|
||||Staff|costs|Othercosts|losses|31July2021|31 July 2020|
|Group||||£’000|£’000|£’000|£’000|£’000|
|
Education|||
18,441||
2,450|
530|
21,421|
21,747|
|Boarding and catering||||3,631|4,179|141|7,951|6,851|
|Premises||||1,531|4,956|2,440|8,927|7,824|
|
Total|||
23,603||
11,585|
3,111|
38,299|
36,422|
|||||||
Depreciation|||
|||||||and capital|||
|||||||profits and|YearEnded|Year Ended|
||||Staff|costs|Othercosts|losses|31 July2021|31 July2020|
|Corporation||||£’000|£’000|£’000|£’000|£’000|
|
Education|||
18,441||
2,586|
530|
21,556|
21,840|
|Boarding and catering||||3,631|4,162|141|7,934|6,848|
|Premises||||1,531|4,949|2,440|8,920|7,817|
|
Total|
|
|
23,603||
11,697|
3,111|
38,410|
36,505|
|The CorporationofOundle||School||||||34|
|||||||YearEnded|Year Ended|
|---|---|---|---|---|---|---|---|
|||||||31July2021|31July2020|
|Group|Governance|Finance|IT|HR|Other|£’000|£’000|
|
Education|
15|
637|
844|
270|
938|
2,704|
3,322|
|Boarding and catering|26|224|297|95|330|972|1,042|
|
Premises|
31|
287|
380|
121|
422|
1,241|
1,338|
|
Total|
72|
1,148|
1,521|
486|
1,690|
4,917|
5,702|
|||||||YearEnded|Year Ended|
|||||||31 July2021|31 July 2020|
|Corporation|Governance|Finance|IT|HR|Other|£’000|£’000|
|
Education|
13|
637|
844|
270|
938|
2,702|
3,316|
|Boarding and catering|21|224|297|95|330|967|1,039|
|
Premises|
25|
287|
380|
121|
422|
1,235|
1,330|
|
Total|
59|
1,148|
1,521|
486|
1,690|
4,904|
5,685|
##
|||||||YearEnded|YearEnded|Year Ended|
|---|---|---|---|---|---|---|---|---|
|||Staff|Costs|Other|Costs|31|July2021|31 July2020|
|Group|||£’000||£’000||£’000|£000|
|
Fund-raising|
costs||
224||
171||
395|
373|
|Other|||346||353||699|345|
|
Total|
|
|
570|
|
524|
|
1,094|
718|
|||||||YearEnded||Year Ended|
|||Staff|Costs|Other|Costs|31 July 2021||31 July 2020|
|Corporation|||£’000||£’000||£’000|£’000|
|
Fund-raising|
costs||
225||
170||
395|
373|
|Other|||<||11||11|18|
|
Total|
|
|
225|
|
181|
|
406|
391|
|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEAR ENDED31|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEAR ENDED31|JULY2021|
|---|---|---|
|11. Governors andemployees|||
||YearEnded|YearEnded|
||31 July2021|31 July 2020|
|Group|£’000|£’000|
|
Wagesandsalaries|
19,293|
20,090|
|Social security costs|1,922|1,946|
|Pension costs|2,956|2,859|
|
Total|
24,171|
24,895|
##
|||YearEnded||YearEnded||
|---|---|---|---|---|---|
||31 July 2021|||31 July 2020||
|Group|No.|FTE|No.||FTE|
|
Teaching staff|
223|
184|
222||
181|
|Otherstaff|494|307|537||349|
|
Total|
717|
491|
759|
|
530|
##
||‘2021
2020|
|---|---|
|Group|No.
No.|
|
£60,001 - £70,000|
33
35|
|£70,001 -£80,000|18
15|
|£80,001 -£90,000|5
4|
|£90,001 -£100,000|aL
1|
|£120,001 - £130,000|1
1|
|£230,001 -£240,000
|1
1
|
|All staffare employed bythe School.||
|The numberofemployeeswhose employee benefits excluding employer pension contributions, amounted to||
|over £60,000 in the year was 59 (2020: 57). The Key Management Personnel of the parent charity, the||
|Corporation, comprise the officers noted on pages 3 and 4. Total employment cost of these people was||
|£1,151,900 (2020: £1,149,279).||
|No remuneration was paid to any of the Governors (2020: nil).|One Governor (2020: 13) was reimbursed|
|expensesfor travelling both in the UK and overseas, and training, amounting to £608 (2020: £3,580). The||
|Corporation has purchased Indemnity Insurance at a cost of£2,063 (2020: £1,990) to protect against any loss||
|arising from negligence or defaults of its Governors, and to indemnifythem against the consequencesof any||
|negligence or default on their part.||
|Duringtheyear redundancyand termination payments,including|payin lieu of notice,were made of£145,904|
|(2020: £186,224).||
|The CorporationofOundle School|36|
|as||
||YearEnded,|Year Ended|
|---|---|---|
||31 July 2021|31 July 2020|
|Group|£’000|£’000|
|
Restricted funds - investment managementfees|
113|
28|
|
Total|
113|
28|
|13. Governance costsincluded in support costs|||
||YearEnded|YearEnded|
||31 July2021|31 July 2020|
|Group|£’000|£’000|
|
Governors’ expenses|
1|
4|
|Services provided bythe Corporation’s auditors:|||
|~fees payable for the Corporation and consolidated financial statements|36|33|
|~ fees payable forthe Corporation’s subsidiaries|11|13|
|~ fees payable in relation to the NTPS audit|7|8|
|~fees payable in relation to tax advisory forthe current year|9|~|
|VATon auditorfees|9|9|
|
Total
|
73
|
67
|
|14. OperatingLeaseCommitments|||
|Atthe reportingdatetheGroup and Corporation had the followingfuture|minimum rentals payable in respect||
|ofnon-cancellable operating leases:|||
|
.
Group and Corporation|
2021
£000|
2020
£000|
|
Notlaterthan 1 year|
472|
334|
|Laterthan 1 yearand not laterthan 5 years|1,028|326|
|
Total|
1,500|
660|
|Lease expenditureforthe year was:|||
|:
Group and Corporation|2021
£000|2020
£000|
|
Total|
334|
261|
|NOTESTO|THEFINANCIALSTATEMENTSFOR|THEFINANCIALSTATEMENTSFOR|THEFINANCIALSTATEMENTSFOR|THEYEAR|ENDED31|JULY 2021|
|---|---|---|---|---|---|---|
|15.Tangible assets|||||||
|||Freehold land|||||
|Group|Assets under
construction|ee|ealertst|Fixtures and|Motor||
|||buildings|properties|equipment|vehicles|Total|
||£’000|£’000|£’000|£’000|£’000|£’000|
|
Cost|||||||
|As at 1 August 2020|33,784|94,431|15,472|9,351|678|153,716|
|Additions|2,813|106|-|113|-|3,032|
|Disposals|-|(604)|~|(19)|(26)|(649)|
|Transfers|(36,313)|35,661|-|652|-|-|
|
As at 31 July2021|
284|
129,594|
15,472|
10,097|
652|
156,099|
|
Accumulated|||||||
|Depreciation|||||||
|As at 1 August 2020|-|16,328|1,130|7,191|475|25,124|
|Chargeforthe year|~|2,309|195|656|94|3,254|
|
Disposals|
~|
(592)|
-|
(18)|
(26)|
(636)|
|
As at31 July2021|
-|
18,045|
1,325|
7,829|
543|
27,742|
|
Net bookamountas at
31 July2021|
284|
111,549|
14,147|
2,268|
109|
128,357|
|
Net book amountas at
31July2020|
33,784|
78,103|
14,342|
2,160|
203|
128,592|
|||Freehold land|||||
|||and|Staff||||
|Corporation|Assets under|educational|residential|Fixtures and|Motor||
||construction|buildings|properties|equipment|vehicles|Total|
||£’000|£000|£'000|£’000|£’000|£’000|
|
Cost|||||||
|As at 1 August 2020|33,784|94,671|15,472|9,351|678|153,956|
|Additions|2,813|106|-|113|-|3,032|
|Disposals|-|(604)|.|(19)|(26)|(649)|
|Transfers|(36,313)|35,661|~|652|-|-|
|
As at31 July2021|
284|
129,834|
15,472|
10,097|
652|
156,339|
|
Accumulated|||||||
|Depreciation|||||||
|As at 1 August 2020|-|16,036|1,130|7,191|475|24,832|
|Charge for the year|~|2,309|195|656|94|3,254|
|
Disposals|
~|
(592)|
-|
(18)|
(27)|
(636)|
|Asat31 July2021|-|17,753|1,325|7,829|542|27,449|
|
Net book amountas at
31 July2021|
284|
112,081|
14,147|
2,268|
110|
128,890|
|
Net book amountas at
1August 2020|
33,784|
78,635|
14,342|
2,160|
203|
129,124|
|Group|2021|2020|
|---|---|---|
||
£’000|
£’000|
|
Listed investments|||
|Valuation at the beginning oftheyear|14,405|13,752|
|Additions at cost|682|14,383|
|Disposals at market value|-|(13,496)|
|Increase/(decrease) in market value of investments after managementcosts|2,384|(234)|
|
Total|
17,471|
14,405|
|
Cash|
~|
-|
|
NetBookValueat 31 July
|
17,471
|
14,405
|
||2021|2020|
|---|---|---|
||£’000|£’000|
|
Multi Asset Funds|
17,471|
14,405|
|
Net bookvalueat 31 July
|
17,471
|
14,405
|
|18. Stocks||||||
|---|---|---|---|---|---|
||||Corporation||Group|
|||2021|2020|2021|2020|
|||£’000|£’000|£’000|£’000|
|
Consumables|
|
48|
90|
48|
90|
|
Total|
'|
48|
90|
48|
90|
|NOTESTOTHEFINANCIAL|STATEMENTSFOR|THE|YEARENDED31JULY|YEARENDED31JULY|2021|
|---|---|---|---|---|---|
|19. Financial instruments||||||
||Corporation|||Group||
||2021|2020||2021|2020|
||
£’000|
£’000||
£’000|
£’000|
|
Carryingamountoffinancial assets||||||
|
Financial assets held at fairvalue through SoFA|
-|
|
-|
17,471
14,405||
|20. Debtors||||||
|||Corporation||Group||
|||2021|2020|2021|2020|
|||£’000|£’000|£’000|£’000|
|
Fees and disbursementsreceivable||
1,239|
530|
1,239|
530|
|Amounts owed by group undertakings||788|183|-|-|
|Otherdebtors||29|153|51|153|
|
Prepayments and accrued income||
425|
563|
506|
565|
|
Total
|
|
2,481
|
1,429
|
1,796
|
1,248
|
##
|||_ Corporation|_ Corporation|Group||
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
||_|£’000|£’000|£’000|£’000|
|
Bank loans||
1,818|
2,324|
1,818|
2,324|
|Trade creditors||1,338|577|1,343|582|
|Amounts owing to subsidiary companies||6|-|-|-|
|Other taxes & Social Security||446|464|446|464|
|Othercreditors||1,733|2,853|1,788|2,925|
|Fees received in advance||1,382|1,801|1,382|1,801|
|Advancefee deposits||8,100|5,964|8,100|5,964|
|
Total
|
|
14,823
|
13,983
|
14,877
|
14,060
|
|NOTESTOTHEFINANCIAL STATEMENTSFORTHE YEARENDED 31JULY2021|NOTESTOTHEFINANCIAL STATEMENTSFORTHE YEARENDED 31JULY2021|NOTESTOTHEFINANCIAL STATEMENTSFORTHE YEARENDED 31JULY2021|NOTESTOTHEFINANCIAL STATEMENTSFORTHE YEARENDED 31JULY2021|NOTESTOTHEFINANCIAL STATEMENTSFORTHE YEARENDED 31JULY2021|NOTESTOTHEFINANCIAL STATEMENTSFORTHE YEARENDED 31JULY2021|NOTESTOTHEFINANCIAL STATEMENTSFORTHE YEARENDED 31JULY2021|
|---|---|---|---|---|---|---|
|26.Summary of netassets ofthe funds of||||theGroupand Corporation|||
|At the year-end, the Group’s and Corporation’s net assets were||||represented by the various funds(including|||
|the Fees In Advance scheme)as follows:|||||||
|||||Net Current|Long-Term|Balance|
||Fixed|Assets|Investments|Assets|Liabilities|31 July2021|
|Corporation||£’000|£’000|£’000|£’000|£’000|
|
Endowmentfunds||
-|
-|
-|
-|
-|
|Restricted income funds||~|-|=|3||
|Unrestricted income funds||77,532|~|3,890|(17,998)|63,424|
|Revaluation reserve||51,358|~|~|~|51,358|
|Pension deficit||~|~|~|(1,682)|(1,682)|
|
Total|
128,890||
-|
3,890|
(19,680)|
113,100|
|Group|||||||
|Endowmentfunds||-|16,952|564|:|17,516|
|Restricted incomefunds||-|519|1,320|-|1,839|
|Unrestricted income funds|77,000||on|3,166|(17,998)|62,168|
|Revaluation reserve|51,358||.|.|.|51,358|
|Pension deficit||.|.|.|(1,682)|(1,682)|
|
Total|
128,358||
17,471|
5,050|
(19,680)|
131,199|
|For comparative purposes, last year’s summarywasasfollows:|||||||
|||||Net Current|Long-Term|Balance|
||Fixed|Assets|Investments|Assets|Liabilities|31 July 2020|
|Corporation||£7000|£’000|£’000|£’000|£’000|
|
Endowmentfunds|||||||
|Restricted income funds||~|~|7|.|.|
|Unrestricted income funds|||||||
|Revaluation reserve|||||||
|Pension deficit||.|.|-|(3,807)||
|
Total
|
129.124
||
|
|
|
|
|Group|||||||
|Endowmentfunds||.|14.405|343|.|14.742|
|Restricted income funds||.||2 A20||2,420|
|Unrestricted income funds||77.234|.|6.768|(20.053
|63.949
|
|Revaluation reserve||&4 352|||||
|Pension deficit|||||||
|
Total
|
E26592
||
|
|
|
|
|The Corporation ofOundle School||||||
44|
|
eo|||||||
|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|JULY2021|JULY2021|
|---|---|---|---|---|---|---|---|
|27. Endowmentfunds:|movementsin the||year|||||
|The following endowments are held byThe Oundle||School Foundation.||(There are nil (2020:nil)||endowment||
|funds held bythe Corporation):||||||||
||Balance|||||||
||1August||Transferfrom||Investment|Balance||
||2020|Donations|Corporation||gains|31July|2021|
||£’000|£’000||£’000|£’000||£’000|
|
Endowmentfunds||||||||
|Bursaries & Scholarships|9,634|297||100|1,555|11,586||
|General Endowment|1,472|1||-|232||1,705|
|De Angeli|757|-||-|120||877|
|James Bursary|666|1||~|106||773|
|ThommyPurbrook|636|-||~|101||737|
|MannersWood|580|1||~|92||673|
|Frank Spragg|334|1||-|53||388|
|Anthony Solomons|179|-||-|28||207|
|Dudley Heesom,|173|-||-|28||201|
|John Matthews|132|~||-|21||153|
|Reilly Scholarship|121|-||-|19||140|
|
Otherendowments|
64|
2||
~|
10||
76|
|
Total|
14,748|
303|
|
100|
2,365|
17,516||
|For comparative purposes, last year’s movementwasasfollows:||||||||
||Balance||Transferfrom||Investment|Balance||
|1 August 2019||Donations|Corporation||gains|31 July|2020|
||£’000|£’000||£’000|£’000|£’000||
|
Endowmentfunds||||||||
|Bursaries & Scholarships||||||||
|General Endowment||||||||
|De Angeli||||||||
|James Bursary||||||||
|Thommy Purbrook||||||||
|Manners Wood||||||||
|Frank Spragg||||||||
|Anthony Solomons||||||||
|Dudley Heesom||||||||
|John Matthews||||||||
|Reilly Scholarship||||||||
|Otherendowments
||||||||
|
Total|
|
|
|
|
4
|
é
|
|
|
The Corporation ofOundle School|||||||
45|
|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|NOTESTOTHEFINANCIAL STATEMENTSFORTHEYEARENDED31|JULY2021|JULY2021|JULY2021|
|---|---|---|---|---|---|---|---|---|---|---|---|
|28. Restrictedincome funds:movementsinthe|||||year|||||||
|The following restricted funds are held byThe Oundle School Foundation:||||||||||||
|||Income|||||Expenditure|||||
|||||Transfers||||||||
||Balance|||to Un-||||Invest-||Balance||
||1August|Investment||restricted|Admin||Trans-||ment|31July||
||2020|Donations|income|funds|Expenses||fers|Gains|||2021|
||£’000|£’000|£’000|£'000|£000||£'000|£’000||£’000||
|
Income from endowed||||||||||||
|
fundsthatis restricted||||||||||||
|
Bursaries & Scholarships|
161|
-|
318|
(237)|
-||
-||
3||
245|
|General Endowment|42|-|48|(54)|-||-||-||36|
|James Bursary|50|-|22|-|-||~||1||73|
|Manners Wood|54|-|19|(5)|-||-||1||69|
|De Angeli|49|~|25|(11)|-||-||1||64|
|Anthony Solomons|17|~|5|-|~||~||-||22|
|
Otherendowments|
158|
-|
48|
(18)|
-||
-||
1||
189|
|
Restricted income Funds||||||||||||
|
General Scholarship|
2|
196|
-|
(188)|
-||
-||
1||
11|
|Sports MasterPlan|514|77|-|(580)|~||~||-||11|
|ThommyPurbrook|100|-|~|-|~||~||1||101|
|General Bursary|63|186|~|(180)|~||~||-||69|
|Zimmern Bursary|170|-|~|(36)|-||-||1||135|
|Laxton Junior School|201|132|~|-|~||~||4||337|
|Other Restricted|273|110|-|(49)|-||~||5||339|
|
Oth. Bursaries & Scholarships|
75|
2|
-|
-|
~||
-||
-||
77|
|
Total|
1,929|
703|
485|
(1,358)|
-||
-||
19|
1,778||
|
In addition, unrestricted funds held by||
Oundle School Foundation are included as||||
restricted funds within|||||
the|
|consolidated accounts.||||||||||||
|The following restricted funds are held||byThe Corporation ofOundle School:||||||||||
|||||Transfers||||||||
|||||to Un-||||||||
||Balance|||restricted|||Invest-|Balance||||
||1 August|Investment||funds|Admin||ment|31 July||||
||2020|Donations|income|(note 33)
Expenses|||Gains||2021|||
||
£’000|
£000|
£’000|
£’000|
£000||
£000||
£’000|||
|
Bursaries & Scholarships|
-|
1,930|
-|
(1,930)||
-|
-||
-|||
|
Total
|
-
|
1,930
|
-
|
(1,930)
|
|
-
|
-
|
|
-
|
||
|
Amounts expended from|
the funds are in respect||
of bursaries and scholarships awarded to||||||
pupils, and|||
|contributions towardscapital projects ofthe School.||||||||||||
|A description ofthe main restricted income funds, with a value at 31 July|||||2021, or donations or grants|||||in|the|
|year over £100,000is given below:||||||||||||
|Sports MasterPlan:|To be used to fund the construction ofthe newSports Centre|||||||at Oundle.||||
|General Scholarship:|To be used forthe provision of scholarships at Oundle School.|||||||||||
|The Corporation ofOundle School|||||||||||47|
||NOTESTO|THEFINANCIAL STATEMENTSFORTHEYEAR|THEFINANCIAL STATEMENTSFORTHEYEAR|THEFINANCIAL STATEMENTSFORTHEYEAR|THEFINANCIAL STATEMENTSFORTHEYEAR|THEFINANCIAL STATEMENTSFORTHEYEAR|THEFINANCIAL STATEMENTSFORTHEYEAR|ENDED31 JULY2021|ENDED31 JULY2021|ENDED31 JULY2021|ENDED31 JULY2021|
|---|---|---|---|---|---|---|---|---|---|---|---|
|28.|Restrictedfund investments (continued)|||||||||||
|ThommyPurbrook:||To be usedfor the provision of||||a general scholarship at|||Oundle School.|||
|General Bursary:||To be usedforthe provision of||||bursaries at Oundle School.||||||
|Zimmern Bursary:||To be used to fund a 100%+ Bursary pupil.||||||||||
|Laxton Junior School:||To be usedforthe provision of||||education at Laxton JuniorSchool||||||
|For|comparative purposes, last year’s movementwasasfollows:|||||||||||
|||||||||||Invest||
||||||Transfers to|||||ment|Balance|
|||||Investment|Unrestricted||Admin|Trans||Gains/|31 July|
|||1 August 2019|Donations|income||funds|Expenses|-fers||(losses)|2020|
|||£000|£000|£’000||£'000|£000|£’000||£’000|£’000|
|
Income from endowed||||||||||||
|fundsthat is restricted||||||||||||
|
|
aries & Scholarshios|
262|
-|
276||
{375}|
{2}||
-|
-|
161|
||
|80|-|42||(80)|-||-|-|42|
|||31|~|1s||-|~||~|-|50|
|||49|-|17||(14)|{1}||-|-|54|
|||42|-|22||(15)|-||-|-|49|
|||14|.|5||(2)|~||-|-|i|
|||
43|
-|
42||
(25)|
(2)||
-|
-|
158|
|||
44|
208|
-||
(250)|
-||
-|
-|
2|
|||32|-|~||(32)|~||-|~|0|
|||881|49|>||(400)|(7)||~|~|514|
|||60|69|-||(129)|-||-|-|0|
|||idi|-|-||-|(1)||~|~|160|
|||246
.|42
193|-
“|||(1)
(2)||-|-|63
170|
|||355|268|-||}|(5)||-|-|A74|
|||79|2|-||4)|(2}||.|-|75|
|
Total|
|
2,419|
822|
423|
(1,712)||
(23)|
|
-|
-|
1,929|
||||||Transfers to|||||||
|||||||Un-||||||
|||Balance|||restricted|||Invest-||Balance||
|||1 August||Investment||funds|Admin|ment||31 July||
|||2019|Donations|income|(note 33)||Expenses|Gains||2020||
|||
£7000|
£7000|
£’000||
£’000|
£’600|
£7000||
£’000||
|Bursaries & Scholarships||-|1,997||(1,997)||-||-|||
|
Total|
|
-|
|
-|
(1,997)||
-|
|
-|
|
|
|
The CorporationofOundleSchool|||||||||||48|
|NOTESTOTHEFINANCIAL STATEMENTSFORTHE YEAR ENDED31JULY|NOTESTOTHEFINANCIAL STATEMENTSFORTHE YEAR ENDED31JULY|NOTESTOTHEFINANCIAL STATEMENTSFORTHE YEAR ENDED31JULY|NOTESTOTHEFINANCIAL STATEMENTSFORTHE YEAR ENDED31JULY|NOTESTOTHEFINANCIAL STATEMENTSFORTHE YEAR ENDED31JULY|NOTESTOTHEFINANCIAL STATEMENTSFORTHE YEAR ENDED31JULY|NOTESTOTHEFINANCIAL STATEMENTSFORTHE YEAR ENDED31JULY|2021|
|---|---|---|---|---|---|---|---|
|29. Unrestrictedincome funds:movementsin theyear||||||||
||||Investment|||||
|Balanceat|||and|||Balanceat||
|1 August|||actuarial|||31 July||
|2020|Income|Expenditure|losses|Transfers||2021||
|Corporation
£’000|£’000|£’000|£’000|£’000||£’000||
|
Revaluation reserve
51,358|
-|
-|
-||
-|
51,358||
|
Unrestricted reserves
60,822|
36,054|
(36,918)|
1,783||
~|
61,741||
|
Total
112,180|
36,054|
(36,918)|
1,783|
|
-|
113,099||
|Group||||||||
|Revaluation reserve
51,358|-|-|~||~|51,358||
|Unrestricted reserves
60,142|36,162|(39,385)|1,783|1,782||60,484||
|
Total
111,500
|
36,162
|
(39,385)
|
1,783
|
1,782
||
111,842
||
|Unrestricted funds are allocated atthe discretion ofthe Governors and include the pension deficit.||||||||
|For comparative purposes, last year’s movementwasasfollows:||||||||
||||Investment|||||
|Balance at|||and|||Balance at||
|1 August|||actuarial|||31 July||
|2018|Income|Expenditure|losses|Transfers||2020||
|Corporation
£’000|£’000|£’000|£7000|£’000||£’000||
|
Revaluation reserve
3
|
|
|
|||
<4
om
||
|Unrestricted reserves
||||||||
|
Total
|
|
|
|
|
|
||
|Group
||||||||
|Revaluation reserve
||||||||
|Unrestricted reserves
||||||||
|
Total
|
|
|
|
|
|
||
|30. Pension schemecosts||||||||
|In accordance with Financial ReportingStandard 102 (“FRS 102”) and the accounting policies detailed in|||||||note|
|1,The Corporation has includedtheliabilityforthe||Pension and LifeAssurance||Plan for|the Non-TeachingStaff|||
|and forthe non-funded pensioners ofOundle School.||||||||
|The Corporation’s employees belong to three principal pension|||schemes:the Teachers’ Pension Scheme for|||||
|academic staff; the Pension & Life Assurance Plan for Non-Teaching Staff;||||and the|Oundle School Group|||
|Personal Pension Plan for Non-teaching Staff. The Pension & Life Assurance Plan for Non-teaching staffwas||||||||
|closed to future accrual on 30June 2012.|There is|a fourth scheme which wasclosed in September 2006that||||||
|pays pensions to three (2020: three) former employees; it is not funded.||||||||
|The Corporation ofOundle School|||||||49|
|Amounts recognised in SOFA|||
|---|---|---|
||Yearended|Yearended|
||31 July 2021|31 July 2020|
||
£'000|
£ '000|
|
Interest income on plan assets|
114|
175|
|
Interest on pension obligation|
(165)|
(240)|
|
Netamountrecognised in theSOFA|
(51)|
(65)|
|Amounts recognised in Balance Sheet|||
||Yearended|Yearended|
||31 July 2021|31 July 2020|
||
£'000|
£ ‘000|
|
Assetsat fairvalue|
9,687|
8,032|
|
Present value ofdefined benefit obligation|
(11,369)|
(11,839)|
|
Deficit|
(1,682)|
(3,807)|
|Reconciliation of presentvalue defined benefit obligation|||
||Yearended|Yearended|
||31July2021|31July2020|
||£ '000|£ '000|
|
Opening Balance at 1 August 2020|
11,839|
10,996|
|Interest cost|165|240|
|Actuarial gains and losses|(492)|761|
|
Benefit paid|
(143)|
(158)|
|
Closing Balance at 31 July 2021|
11,369|
11,839|
|The Corporation ofOundle School||51|
||At|1 August 2020|Cashflow|At 31 July2021|
|---|---|---|---|---|
|||£'000|£’000|£'000|
|
Cash and cash equivalents|||||
|Total cash and cash equivalents||23,469|(3,987)|19,482|
|Borrowings|||||
|Debt due within one year||(2,324)|506|(1,818)|
|Debt dueafter one year||(18,347)|1,529|(16,818)|
|
Total borrowings||
(20,671)|
2,035|
(18,636)|
|
Total|
|
2,798|
(1,952)|
846|
|NOTESTOTHEFINANCIALSTATEMENTSFORTHE|NOTESTOTHEFINANCIALSTATEMENTSFORTHE|NOTESTOTHEFINANCIALSTATEMENTSFORTHE|NOTESTOTHEFINANCIALSTATEMENTSFORTHE|YEARENDED31JULY 2021|YEARENDED31JULY 2021|
|---|---|---|---|---|---|
|35. Comparative Information||||||
|Group||Unrestricted|Restricted|Endowment|YearEnded 31|
|||Income Funds|Income Funds|Funds|July 2020|
|||£’000|£’000|£’000|£’000|
|
INCOMEAND ENDOWMENTSFROM:||
|
|
|
|
|Investments||78|423|~|501|
|Coronavirus Job Retention Scheme||1,410|-|-|1,410|
|Donationsandgifts||112|1,343|98|1,553|
|Charitable activities||||||
|School fees receivable||32,552|~|~|32,552|
|Other educationalactivities||1,071|~|~|1,071|
|
Ancillary trading and otheractivities||
413|
~|
-|
413|
|
Income and endowments|
|
35,636|
1,766|
98|
37,500|
|EXPENDITURE ON:||||||
|
Costs of raisingfunds||||||
|Interest and finance charges||~|{28)|-|(28)|
|Costs offund-raising and trading||(718)|-|-|(718)|
|Charitable activities||||||
|
Education||
(36,412)|
(10)|
~|
(36,422)|
|
Total expenditure|
|
(37,130)|
(38)|
-|
(37,168)|
|Net inepiia and net movement in|funds|(1,494)|1,728|98|332|
|before gains and losses on investments||||||
|Net(losses)/gainson investments||~|-|(234)|(234)|
|
Net income||
(1,494)|
1,728|
(136)|
98|
|
Transfers between funds||
1,872|
(1,972)|
100|
-|
|
Other recognised gains/(losses)|
|
378|
(244)|
(36)|
98|
|:
F
defi
;
Re measurement of defined benefit||(1,000)|.|.|(1,000)|
|
pension schemes||||||
|
Net movementin funds||
(622)|
(244)|
(36)|
(902)|
|
Fundbalances brought forward at
1August 2019||
112,122|
2,664|
14,784|
129,570|
|
Fund balancescarried forward at
31 July 2020|
|
111,500|
2,420|
14,748|
128,668|