2020-07-31-accounts

Registeredandprincipaloffice	WellsCathedralSchoolLimited	WellsCathedralSchoolLimited
	CollegeRoad
	Wells
	Somerset
	BA52SX
Bankers	NationalWestminsterBankPLC
	7HighStreet
	Wells
	Somerset
	BA52AD
Solicitors	HarrisandHarris
	DiocesanRegistry
	14MarketPlace
	Wells
	Somerset
	BA52RE
	BurgesSalmonLLP
	OneGlassWharf
	Bristol
	BS2OZX
InsuranceBrokers	HettleAndrews&	AssociatesLtd
	ElevenBrindleyplace
	2BrunswickSquare
	Birmingham
	B12LP
IndependentAuditor	CroweU.K.LLP
	CarrickHouse
	LypiattRoad
	Cheltenham
	GL502QJ
CompanySecretary	MrPeterKnell
	WellsCathedralSchoolLimited
	CollegeRoad
	Wells
	Somerset
	BA52SX
ConnectedCharity	WellsCathedralSchoolFoundationLimited
	CollegeRoad
	Wells
	Somerset
	BA52SX

surplusof£916k(2019:surplusof£523lc).
Theconsolidatedactivitiesaresummarisedbelow:	2020	2019
	£000	£000
Incomefromcharitableactivities
(charitableactivitiesperSOFAplustheSchoolbursariesanddiscounts)	19,295	18,684
OperatingcostsofSchool
Schoolbursariesanddiscounts	(4,344)	(3,292)
Expenditureoncharitableactivities(excludingdepreciation)	(13,476)	(14,335)
OperatingsurplusoftheSchool	1,475	1,057
Less:
Depreciation	(545)	(520)
Premises- nonrecurringprojects	(14)	(14)
Netoperatingsurplus	916	523
Incomefromgeneratedfunds	390	377
Realised(loss)/gainoninvestments	(34)	33
Costofgeneratingfunds	(401)	(317)
Costofcharitableactivitiesnotpartofoperatingcosts	(74)	(64)
NetincomeinSOFA	797	552

	Numberof pupils	Numberof pupils	Value fOOO	Value £000	% of grossfee	% ofgross feeincome	% ofgross feeincome
					income
	2020	2019	2020	2019	2020		2019
Schoolbursaries	262	224	1,125	1,196	6.39%		6.80%
BursariesfromtheFoundation	6	2	48	61	0.27%		0.34%
MusicandDanceScheme	80	80	919	929	5.22%		5.28%
Scholarships	155	137	304	269	1.73%		1.53%
Valueof feereductionsprovidedtochildren
of:
MembersoftheclergyoftheChurchof England			19	18	0.11%		0.10%
Membersofthearmedforces			22	35	0.13%		0.20%
FormerpupilsoftheSchool			24	24	0.14%		0.14%
ParentswithmorethanonechildattheSchool			142	154	0.81%		0.87%
EmployeesoftheSchool			568	582	3.23%		3.31%
Childrenofex-choristersoftheSchool			21	22	0.12%		0.13%
Total			3,192	3,290	18.14%		20.72%

Wells Cathedral School Limited (limited by guarantee) Independent Auditor's Report Year Ended 31 July 2020

Independent Auditor's Report to the Members of Wells Cathedral School Limited (continued)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

GuyBiggin

Senior Statntory Auditor

For and on behalf of

Crowe U.K. LLP

Statntory Auditor

Cheltenham

Date: 5 February 2021

23

		Endowment	Endowment	Restricted	Unrestricted	Designated	Total	Total
	Note
		funds		funds	revenue	Assetfunds	2020	2019
		£000		£000	£000		£000	£000
						£000
INCOMEFROM:
Charitableactivities:
Feesreceivable	3		-	-	13,462	-	13,462	14,306
Othereducational
	4		-	-	1,342		1,342	822
income
Otherancillary tradingincome	^		-	-	145	-	145	264
Donations&	^
			4	203	-	-	207	255
legacies
Othertrading	^		-	-	161	-	161	132
activities
Incomefrom	^
				23	1			22
investments							24
TotalIncome			4	226	15,111		15,341	15,801
						-
EXPENDITUREON:
Raisingfunds	7		-	-	(401)	-	(401)	(317)
Charitable	^
			-	(153)	(13,488)	(468)	(14,109)	(14,965)
activities
TotalExpenditure			-	(153)	(13,889)	(468)	(14,510)	(15,282)
(Loss)/gainon investments		(34)		-	-	-	(34)	33
Netincome/(expendlture)		(30)		73	1,220	(468)	797	552
Transfersbetween
r> 1 tiinds	/		-	10	(926)	916	-	-
Netmovementinfunds		(30)		83	296	448	797	552
Fundbalances
broughtforwardat] 18,19,20		886		3,882	(5,001)	18,721	18,488	17,936
1August
Fundbalances
carriedforwardat18.19.20		856		3,965	(4,705)	19,169	19,285	18,488
31July

	Note	2020		2019
		£000	£000	£000	£000
Fixedassets
Tangibleassets	12		23,061		23,369
Investments	13		879		886
Currentassets
Propertiesheldforsale	12			520
Stocks	14	13		9
Debtors	15	1,207		1,171
Cashatbankandinhand	25	966		264
Totalcurrentassets		2,186		1,964
Creditors:amountsfallingduewithinone	16	(3,791)		(3,971)
year
Netcurrentliabilities			(1,605)		(2,007)
Totalassetslesscurrentliabilities			22,335		22,248
Creditors:amountsfallingdueaftermore thanoneyear	17		(3,050)		(3,760)
Netassets			19,285		18,488
Thefundsofthegroup
Endowmentfunds	18		856		886
Restrictedfimds	19		3,965		3,882
Unrestrictedfunds:
Revenuefund		(4,705)		(5,001)
Designatedassetfund	20	19,169		18,721
Totalunrestrictedfunds			14,464		13,720
Totalfunds			19,285		18,488

choolBalanceSheet sat31July2020CompanyNumber564883
	Note	2020		2019
		£000	£000	£000	£000
Fixedassets
Tangibleassets	12		23,061		23,369
Currentassets
Propertiesheldforsale	12	-		520
Stocks	14	13		9
Debtors	15	1,121		1,167
Cashatbankandinhand	25	674		5
Totalcurrentassets		1,808		1,701
Creditors:amountsfallingduewithinoneyear	16	(3,788)		(3,968)
Netcurrentliabilities			(1,980)		(2,267)
Totalassetslesscurrentliabilities			21,081		21,102
Creditors:amountsfallingdueaftermorethan	jy		(3,050)		(3,760)
oneyear
Netassets			18,031		17,342
ThefundsoftheSchool
Endowmentfunds	18
Restrictedfunds	19		3,569		3,640
Unrestrictedfunds:
Revenuefund		(4,707)		(5,008)
Designatedassetfund	20	19,169		18,710
Totalunrestrictedfunds			14,462		13,702
Totalcharityfunds			18,031		17,342

ConsolidatedStatementofCashFlows
FortheyearendedSIJuly2020
	Note	2020		2019
		£000	£000	£000	£000
Netcashprovidedbyoperatingactivities	24		1,307		1,548
Cashflowsfrominvestingactivities:
Incomereceivedfrominvestments	13	23		20
Proceedsfromsaleofinvestments	IS	240		83
Purchaseoftangiblefixedassets	12	(237)		(334)
Saleofproperty		520
Purchaseofinvestments	IS	(262)		(134)
Netcashusedininvestingactivities			284		(365)
Cashflowsfromfinancingactivities:
(Repayment)/receiptsofbankloans	26	(673)		(201)
Paymentofinterest	11	(64)		(85)
Netcashusedbyfinancingactivities			(737)		(286)
Changeincashandcashequivalentsinthereportingperiod	25,26		854		897
Cashandcashequivalentsatthebeginningofthereporting period			85		(812)
Cashandcashequivalentsattheendofthereportingperiod			939		85
Cashandcashequivalents
Cashatbankandinhand	25	966		264
Cashheldbyinvestmentmanager	13	(27)		(27)
Overdraft				(152)
		939		85

3	FeesReceivable
		2020	2019
		£000	£000
	Feesreceivableconsistof:
	Tuitionandboardingfees	15,974	15,840
	Musictuitionfees	1,832	1,758
	Totalfees	17,806	17,598
	Less:DfECap- Tuitionandboardingfees	(919)	(929)
	Bursaries,scholarshipsandotherdiscounts	(2,225)	(2,363)
	Covid19relateddiscounts	(1,200)	-
		13,462	14,306

	2020	2019
	£000	£000
Othereducationalincome:
Schoolactivities	417	559
Extratuition	150	212
WellsMusicCollegeincome	14	13
Registrationandauditionfees	28	34
Otherincome	42	4
Covid19relatedincome	691
	1,342	822

	2020	2019
	£000	£000
Otherancillarytradingincome:
Busserviceforpupils	45	60
Concertincome	16	34
Otherincome	84	170
	145	264

		Group			School
	2020		2019	2020		2019
	£000		£000	£000		£000
Restricted/Endowed:
Donations:
Donations(restricted)	193		221	74		92
Donations(endowed)	4		27
DonationsforSierraLeone
DonationstoMusic	10		5	10
DonationsforOutreach			2
	207		255	84		99

		2020	2019
		£000	£000
Othertradingactivities:
Lettings		27	119
Hireoffacilities		10	11
Functions/concertincome		93	145
Solarpanels		15	32
Rental		6
Surplusonfixedassetdisposals		10	(175)
		161	132
IncomefromInvestments
		Group	School
	2020	2019	2020	2019
	£000	£000	£000	£000
Interestfromshort-termdeposits	1	2	1	2
Incomeearnedonendowmentfundstransferredto
restrictedfunds	23
Incomeearnedonendowmentfunds		20
	24	22

Expenditure
	Staffcosts	Other	Depreciation	Total	Total
				2020	2019
	£000	£000	£000	£000	£000
Expenditureonraisingfunds:
Fundraisingtradingcosts	192	150		342	270
Fundraisingforvoluntarycosts	31	28		59	47
Totalexpenditureonraisingfunds	223	178		401	317
Expenditureoncharitableactivities:
Teachingcosts	6,343	261	75	6,679	6,789
Welfarecosts	651	160		811	839
Premises- general	1,306	1,488	470	3,264	3,385
-nonrecurringprojects		14		14	14
Supportcosts	1,734	1,084		2,818	3,257
Schoolactivities		417		417	559
Ancillarytrading	45	61		106	122
Totalexpenditureoncharitable activities	10,079	3,485	545	14,109	14,965
Totalexpenditure	10.302	3.663	545	14.510	15.282
Supportcosts

					Costsof	Other
					generating	charitable	Total	Total
					funds	activities	2020	2019
					£000	£000	£000	£000
Staffcosts					223	1,734	1,957	1,891
Other	supportcosts:
Staffexpenses/development					1	79	80	126
Office					166	743	909	1,101
Professionaladvice					7	165	172	217
Financecosts						82	82	114
Servicesprovided		bytheSchool'sauditor:
Fees	payable	for	the	audit(including
Foundation)						14	14	26
	-	Audit	additionalcosts
	-	Teachers'PensionCertificate				1	1	1
	-	CompaniesinHongKong				4	4	6
					397	2.822	3.219	3.482

		Numberofemployees	Numberofemployees
		2020	2019
Teachingstaff		167	176
Non-teachingstaff		222	216
		389	392
Theaggregatepayiollcostsofthesepersonswereasfollows:
		2020	2019
		£000	£000
Wagesandsalaries		8,366	8,476
Socialsecuritycosts		708	717
Pensioncosts(seenote23)		1,228	915
		10,302	10,108
Thenumberofemployeesearninginexcessof£60,000perannum:
		Numberofemployees
		2020	2019
£150,001	-£160,000
£140,001	-£150,000
£130,001	-£140,000
£120,001	-£130,000
£110,001	-£120,000
£100,001	-£110,000
£90,001- £100,000
£80,001-	£90,000
£70,001-	£80,000
£60,001-	£70,000

		2020	2019
		£000	£000
Netmcome/(expenditure)beforetransfersisstatedaftercharging:
ServicesprovidedbytheSchoorsauditor:
Auditfees	-School	12	22
	-Foundation	2	2
	-HongKong	4	5
Otherservices- MusicandDanceSchemegrantaudit		1	1
	-TeachersPensioncertificateaudit	1	1
	-Non-auditfees(HongKong)	-	6
Rentalspayableunderoperatingleases
	-landandbuildings	58	58
	-other	135	132
Depreciation	-ownedassets	520	495
	-leasedassets	25	25

	2020	2019
	£000	£000
Interestonbankloansandoverdraft	64	85

2 Tangi	bleFixedAs	sets
	Freehold	Assetsinthe	Leasehold	Information	Fixtures,	Motor	Total
	landand	courseof	landand	computer	Fittings,	vehicles
Groupand	buildings	construction	building	technology	musical
School					instruments
					and
					machinery
	£000	£000	£000	£000	£000	£000	£000
Cost
At1 August	24,114	62	1,571	546	2,682	59	29,034
Additions	88			15	134		237
Transfer	10	(10)
Disposals					(2)		(2)
At31July	24,212	52	1,571	561	2,814	59	29,269
Accumulated
Depreciation
At1 August	2,530		832	460	1,796	47	5,665
Chargeforyear	298		25	23	196		545
Disposals					(2)		(2)
At31July	2,828		857	483	1,990	50	6,208
>letbookvalue
	21,384	52	714	78	824	9	23,061
At31July2020
At31July2019	21,584	62	739	86	886	12	23,369

	2020	2019
	£000	£000
Investmentmanagementportfolio	879	886
	879	886

		Group		School
	2020	2019	2020	2019
GroupandSchool
	£000	£000	£000	£000
Investmentsatvaluation
At1 August	886	807	-	414
Additionsatcost	262	134	-	-
Disposalproceeds(includesinterest)	(263)	(83)	-	-
AddtransfersfromSchool	-	-	-	(414)
Cashheldforre-investment	27	20	-	-
Netgain/(loss)oninvestments	(34)	33	-	-
	878	911	_	_
Increase/(decrease)incashforreinvestment	1	(25)	-	-
At31July	879	886	_	_

	Group	Group	School	School
	2020	2019	2020	2019
	£000	£000	£000	£000
Tradedebtors- amountsduefromparents	501	653	501	653
Otherdebtors	339	329	339	329
Prepayments	367	189	281	185
	1,207	1,171	1,121	1,167
16 Creditors:amountsfallingduewithinoneyear
		Group		School
	2020	2019	2020	2019
	£000	£000	£000	£000
Bankloansandoverdrafts	202	352	202	352
Feesreceivedinadvance	154	348	154	348
Pupildeposits	2,184	2,316	2,184	2,316
Tradecreditors	3	9	3	9
Taxationandsocialsecurity	807	186	807	186
Financelease	7	9	7	9
Othercreditors	143	169	143	169
Accrualsanddeferredincome	291	582	288	579
	3,791	3,971	3,788	3,968

GroupandSchool
	2020	2019
	£000	£000
At1 August	395	443
Newcontracts	68	257
AmountsutilisedinpaymentoffeestotheSchool	(294)	(305)
At31July	169	395

	2020	2019
	£000	£000
Feesinadvance- agedbreakdownoffees:
Feesfallingduewithin:
1year	154	343
1- 2 years	15	47
	169	395

	2020	2019
GroupandSchool:
Bankloans	3,034	3,713
Feesreceivedinadvance	16	47
	3,050	3,760

	2020	2019
	£000	£000
Within:
1year	202	1,070
1-2years	299	217
2— 5 years	896	652
After5 years	1,839	1,972
	3,236	3,911

		Alan				Ashley
Group	Chandler	Quilter	Dulverton	Carnegie	Vanderveli	Jones	Bursary	Group
	fund	fund	fund	fund	fund	fund	fund	Total
	£000	£000	£000	£000	£000	£000	£000	£000
AtI August	80	6	40	25	249	14	472	886
2019
Additions	-	-	-	-	-	-	4	4
Interest	-	-	-	-	-	-	-	-
Losson							(34)	(34)
Investments
At31July2020	80	6	40	25	249	14	442	856

Group	Chandler	Alan	Duiverton	Carnegie	Vandervell	Ashley	Bursary	Group
	fund	Quiiter	fund	fund	fund	Jones	fund	Total
		fund				fund	£000	£000
	£000	£000	£000	£000	£000	£000
At1 August	80		40	25	249	14	393	807
2018
Additions							26	26
Interest							20	20
Gain/ (loss)on							33	33
iiivestmenls
At31July2019	80		40	25	249	14	472	886

GroupandSchool	Project	Bursary	Capital	Other	School	Foundation	Group	Group
	fund	fund	fund	fund	2020	2020	2020	2019
	£000	£000	£000	£000	£000	£000	£000	£000
Donationsandother
receipts	-	-	10	-	10	193	226	228
Bankandotherinterest
received						23
Expenditure			(77)		(77)	(76)	(153)	(148)
Consolidation
adjustment	(14)	-		-	(14)	14
(Deficit)/surplusforyear	(14)	-	(67)	-	(81)	154	73	80
Transfersbetweenfunds			10		10		10	(57)
At1 August	88	27	3,185	340	3,640	242	3,882	3,859
At31July	74	27	3,128	340	3,569	396	3,965	3,882

	2020	2019
	£000	£000
Transfertorevenuefund,fundsheldintheFoundationrelatedtotheCedarsfield
development.		22
Transferfromdesignatedassetfundtocapitalrestrictedfundre:musicalinstrumentsfunded byFriendsofMusic.	10	(5)
TransfertorevenuefundinrespectofrestrictedbursariesfromtheFoundation		35
Transfertodesignatedassetfundinrespectofaggregatedfundsrelatedtofundsfromthe		5
FoundationandOutreach.
	10	57

GroupandSchool	Project	Bursary	Capital	Other	SchoolFoun	SchoolFoun	dation	Group
	fund	fund	fund	fund	2019		2019	2019
	£000	£000	£000		£000
				£000			£000
Donationsandother
		60		25		92	136	228
receipts
Bankandotherinterest
received
Expenditure			(83)		(83)		(65)	(148)
Consolidationadjustment						5	(5)
(Deficit)/surpiusforyear		60	(78)	30		14	66	80
Transfersbetweenfunds		(35)	(22)		(57)			(57)
At1 August	86	2	3,285	310	3,683		176	3,859
At31July	88	27	3,185	340	3,640		242	3,882
20 Designated	AssetFunds
						Group		School
					2020	2019		2020	2019
				£000		£000		£000	£000
Atbeginningofyear				18,721		18,803		18,721	18,792
Schooloperatingcosts(depreciation)				(468)		(436)		(468)	(436)
Transfersbetweenfunds					916		354	916	354
Atendofyear				19,169		18,721		19,169	18,710

	2020	2019
	£000	£000
Reductionintheloanssecuredagainsttheassetsinthefund	679	200
Unrestrictedadditionstofixedassets	237	334
Lessnetbookvalueofpropertysale	10	(175)
LessfixedassetsfundedbytheFriendsofMusic	(10)	(5)
Total	916	354

		Group		School
	2019		2018	2019	2018
	£000		£000	£000	£000
Atbeginningofyear	18,803		18,742	18,792	18,731
Schooloperatingcosts(depreciation)	(436)		(455)	(436)	(455)
Transfersbetweenfunds	354		516	354	516
Atendofyear	18,721		18,803	18,710	18,792
21 FinancialInstruments

		Group		School
	2020	2019	2020	2019
	£000	£000	£000	£000
Debtors	501	653	501	653
Bankandcash	966	264	674	5
Otherreceivables	339	329	339	329
	1,806	1,246	1,514	987

	Group			School
	2019	2019	2019	2019
	£000	£000	£000	£000
Bankloansandoverdraft	3,237	4,065	3,237	4,065
Tradecreditors	3	9	3	9
Pupils'deposits	2,184	2,316	2,184	2,316
Accruals	192	307	189	304
Othercreditors	ISO	178	150	178
	5,766	6,875	5,763	6,872

	Group
	2020	2019
	£000	£000
Investments	879	886

GroupandSchool	2020		2019
	Landand buildings	Other	Landand buildings	Other
	£000	£000	£000	£000
Operatingleasescommitments:
Inlessthanoneyear	58	136	58	132
Inthesecondtofifthyearsinclusive	82	156	140	264
	140	292	198	396

	2020	2019
	Landand	Landand
	buildings	buildings
	£000	£000
Financeleaseswhicharepayable:
Inlessthanoneyear	103	103
Inthesecondtofifthyearsinclusive	-	103
	103	206

	2020	2019
	£000	£000
Non-teachingstaff	168	151
Teachers	1,060	764
	1,228	915
Contributionsoutstandingat31Julywereasfollows:
	2020	2019
	£000	£000
Non-teachingstaff	24
Teachingstaff	122	101
Netcontributionsoutstanding	146	101

24 Reconciliationofnetmovementinfundstonet	cashinflowfromoperatingactiv	ities
	2020	2019
	£000	£000
Netmovementinfunds
	797	552
Depreciation
	545	520
Profit/Lossonsaleoffixedassets	(10)	175
(Increase)/Decreaseinstocks	(4)	2
(Increase)/Decreaseindebtors	(36)	163
(Gams)/Lossoninvestments	35	(33)
Increase/(Decrease)increditors	(61)	105
Interestfrominvestments	(23)	(20)
Interestpayable
	64	84
Netcashinflowfromoperatingactivities	1,307	1,548

25 AnalysisofChangesinCashBa	lances
	At1 August 2019	Cashflows	At31July2020
	£000	£000	£000
Cashinhandandatbank	264	702	966
Bankoverdraft	(152)	152
Debtduewithinoneyear	(1,070)	868	(202)
Debtdueafteroneyear	(2,841)	(195)	(3,036)
Total	(3,799)	1,527	(2,272)
26 ReconciliationofNetDebt

	2020	2019
	£000	£000
Increaseincashintheyear	854	921
Cashinflowfromrepaymentofloansandhirepurchaseagreements	673	201
Changeinnetfundsresultingfromcashflow	1,527	1,122
Netdebtatstartofyear	(3,799)	(4.921)
Netdebtatendofyear	(2,272)	(3,799)

	Fixedassets	Netcurrent assets/(liabillties)	Longterm liabilities	Total
	£000	£000	£000	£000
Endowmentfunds	879	(23)		856
Restrictedfiinds	5,774	(1,809)		3,965
Revenuefund		(4,689)	(16)	(4,705)
Designatedassetfunds	17,285	4,916	(3,034)	19,169
	23,940	(1,605)	(3,050)	19,285

	Fixedassets	Netcurrent assets/(liabilities)	Longterm liabilities	Total
	£000	£000	£000	£000
Restrictedfunds	5,744	(2,205)		3,569
Revenuefund		(4,891)	(16)	(4,707)
Designatedassetfunds	17,287	4,916	(3,034)	19,169
	23,061	(1,980)	(3.050)	18,031

Group	Fixedassets	Netcurrent assets/(liabilities)	Longterm liabilities	Total
	£000	£000	£000	£000
Endowmentfunds	886			886
Restrictedfunds	5,764	(1,882)		3,882
Revenuefund		(4,954)	(47)	(5,001)
Desisnatedassetfunds	17,605	4,829	(3,713)	18,721
	24,255	(2,007)	(3.760)	18,488

Shl
coo	Fixedassets	assets/(liabilities)	term liabilities	Total
	£000	£000	£000	£000
Restrictedfunds	5,764	(2,124)		3,640
Revenuefund		(4,961)	(47)	(5,008)
Designatedassetfunds	17,605	4,818	(3,713)	18,710
	23,369	(2,267)	(3,760)	17,342

			2020
	Unrestricted	Designated	Restricted	Endowment
	funds	assetfunds	funds	funds	Total
	£000	£000	£000	£000	£000
Netmovementinfundsforyear	1,222	(468)	73	(30)	797
Netincreaseintangiblefixedassetsfor
directcharitablepurposes	308				308
Netincreaseinfundsavailableforfuture
activities	1,530	(468)	73	(30)	1,105

	Endowment	Restricted	Unrestricted	Total	Total
	funds	funds	funds	2020	2019
	£000	£000	£000	£000	£000
Income
Incomefromcharitableactivities;	4	216	59	279	643
Expenditureonraisingfunds:	-	(76)	(60)	(136)	(144)
Unrealisedgains/(losses)oninvestments	(34)	-	-	(34)	33
Netmovementinfunds	(30)	140	(1)	109	532
Balancebroughtforwardat1 August	886	256	4	1,147	615
Balancecarriedforwardat31July	856	396	3	1,256	1,147
Thenetassetsandliabilitieswere:
				2020	2019
				£000	£000
Fixedassets:
Investments				879	886
Totalcurrentassets				379	264
Creditors:amountfallingduewithinoneyear				(3)	(3)
Netcurrentassets				376	261
Netassets				1,256	1,147
Totalcharityfunds				1,256	1,147

	Note	Unrestricted	Designated	Restricted	Endowment	Total
		revenue	assetfunds	funds	funds
						2019
		£000	£000	£000	£000
						£000
INCOMEFROM:
Donations& legacies	5			228	27	255
Othertradingactivities	5	132				132
Incomefrominvestments	10	2			20	22
Charitableactivities:
Feesreceivable		14,306				14.306
Othereducationalincome	4	822				822
Otherancillarytradingincome	4	264				264
Totalincome		15,526		228	47	15,801
EXPENDITUREON:
Raisingfunds		317				317
Charitableactivities		14,381	436	148		14,965
Totalexpenditure		14,698	436	148		15,282
Gainoninvestments	15				33	33
Netincome/(expeDditure)		828	(436)	80	80	552
Transfersbetweenfunds	18.19	(296)	354	(57)	(1)
Netmovementinfunds		532	(82)	23	79	552
Fundbalancesbroughtforward	18,19.20	(5,533)	18,803	3,859	807	17,936
atI August2018
Fundbalancescarried	18.19,20	(5,001)	18,721	3,882	886	18,488
forwardat31July2019