2020-08-31-accounts

Governors		Mr JAlexandroff	Mr JAlexandroff	Mr JAlexandroff
		Mrs TCotterell
		Mr M BDrummond			Smith
		Ms M Eyles
		J N Weir
		Mr J Nicol
		Mr P Graves
		Mr N Morgan
Secretary		M Gardiner
Charity number		310281
Company	number	00722996
Registered	office	Cranmore Hall
		Cranmore
		SHEPTON MALLET
		Somerset
		BA4 4SF
Head		Mr TJ Richards		CPsychol
Bursar and Clerk to the		Mr M Gardiner
Governors
Auditor		Old Mill Audit		LLP
		Bishopbrook	House
		Cathedral Avenue
		WELLS
		Somerset
		BA5 1FD
Bankers		Cambridge &	Counties			Bank
		Regus, Castlemead
		Lower Castle	Street
		BRISTOL
		BS13AJ
Solicitors		Harrison Clark		Rickerbys
		Ellenborough	House
		Wellington Street
		CHELTENHAM
		Gloucestershire
		6L50 1YD

		Page
Governors report		1-9
Independent auditor's	report	10-11
Statement offina ncia I activities		12
Balance sheet		13
Statement ofcash flows		14
Notes to the financial	statements	15-33

2019—20Sch	ol	arships and Awards
ports			12
cademic
II Rounder
DTor CDT
Music
Drama
			10
ther scholarships
rand Total
Schools
Cheltenham College
hew Valley
lifton College
Downside
Frome College
Haileybury
King's, Bruton
King's College	Taunton
Kingswood School
Marlborough	College
Millfield
Monkton Combe
Prior Park College
Repton School
herborne Girls
idcot
tonar
elis Cathedral		School
estonbirt School
rand Total			39

		2020	2019
		f	F
Total Funds as at 31August (as per page 13)		543,943	829,022
Less: Tangible Fixed Assets Used for Charitable		(1,768,194)	(1,871,016)
Purposes Forming Part of Unrestricted	funds
Designated Fund		(10,539)	(10,539)
Restricted Fund		(5,550)	(4,394)
Free reserves ofthe School		(1,240,340)	(1,056,927)

				Unrestricted	Restricted	Total	Total
				funds	funds	2020	2019
			Notes			f	f
Income and endowments		from:
Donations and	legacies				1,156	1,156	4,464
Charitable activities				3,503,372		3,503,372	3,383,322
Investments				149		149	148
Other income				174,523		174,523	220,560
Total income and endowments				3,678,044	1,156	3,679,200	3,608,494
Charitable activities				3,964,279		3,964,279	4,031,086
Net (expenditure)/income		for the year/
Net movement	in funds			(286,235)	1,156	(285,079)	(422,592)
Fund balances	at 1September 2019			824,628	4,394	829,022	1,251,614
Fund balances	at31August 2020			538,393	5,550	543,943	829,022

				2020	2019
			Notes	f	f
Fixed assets
Tangible assets			12	1,768,194		1,871,016
Current assets
Stocks			13	42,936	86,993
Debtors			14	181,073	200,749
Cash at bank and in	hand			170,668	84,957
				394,677	372,699
Creditors: amounts	falling due within		one
year			16	(1,219,862)	(1,414,693)
Net current liabilities				(825,185)		(1,041,994)
Total assets less current		liabilities		943,009		829,022
Creditors: amounts	falling due after more
than one year			17	(399,066)
Net assets				543,943		829,022
Income funds
Restricted funds			20	5,550		4,394
Unrestricted funds
Designated funds			21	10,539	10,539
General unrestricted	funds		21	416,518	702,753
Revaluation reserve			21	111,336	111,336
				538,393		824,628
				543,943		829,022
The financial statements		were approved	isy the Governors	on ..+H..ys. ..Seas) '2+~l
Mr J Alexandroff
Trustee

				2020		2019
			Notes	f
Cash flows from operating activities
Cash absorbed by operations			25		(367,353)
Investing activities
Purchase oftangible fixed assets				(37,307)		(71,479)
Interest received				149		148
Net cash used in investing	activities				(37,158)
Financing activities
Increase in borrowings				490,222		150,000
Net cash generated from	financing	activities			490,222
Net increase/(decrease)	in cash and cash equivalents				85,711
Cash and cash equivalents	at beginning		ofyear		84,957
Cash and cash equivalents	at end ofyear				170,668

				Restricted	Total	Total
				funds	2020	2019
Donations	and gifts			1,156	1,156	4,464
				1,156	1,156	4,464
Forthe year ended 31August 2019				4,464		4,464
Charitable		activities
					2020	2019
					f	f
Government		grants			432,648
Fee income					3,070,724	3,383,322
					3,503,372	3,383,322
Fee income		comprises	ofthe following:
					2020	2019
					f	f
Gross Fees					3,832,343	3,844,305
Less: Total	Scholarships,		Bursiaries and Fee Assistance		(761,619)	(460,983)
Net School		Fees (Unrestricted)			3,070,724	3,383,322
investments
					2020	2019
					f	f
Interest receivable					149	148
Other income
					2020	2019
					f	f
Other income					174,523	220,560

Other income includes the following:	Other income includes the following:	Other income includes the following:	Other income includes the following:
							2020	2019
							f	f
Pupil Extras							164,985	205,348
Other							9,538	15,212
Total							174,523	220,560
Charitable	activities
			Teaching	Welfare	Premises	Support	Total	Total
							2020	2019
							f	f
Staff costs			2,141,711	384,248	54,428	318,582	2,898,969	2,972,087
Depreciation		and
impairment			87,413	19,369	11,132	22,215	140,129	149,812
Other Costs			224,080	139,968	246,868	282,652	893,568	879,943
			2,453,204	543,585	312,428	623,449	3,932,666	4,001,842
Share ofgovernance			costs
(see note 8)						31,613	31,613	29,244
			2,453,204	543,585	312,428	655,062	3,964,279	4,031,086
Analysis by	fund
Unrestricted		funds	2,453,204	543,585	312,428	655,062	3,964,279
			2,453,204	543,585	312,428	655,062	3,964,279
Forthe year		ended	31August 2019
Unrestricted		funds	2,415,870	690,438	362,713	554,245		4,023,266
			2,415,870	690,438	362,713	562,065		4,031,086

Support costs
				Support costs	Governance	2020	2019
					costs
Staff costs					20,903	20,903	19,844
Audit fees					10,510	10,510	9,000
Other Costs					200	200	400
					31,613	31,613	29,244
Analysed between
Charitable activities					31,613	31,613	29,244
Auditor's remuneration
The analysis ofauditor's		remuneration	is as follows:
Fees payable tothe	auditor and associates:					2020	2019
						f	f
Audit ofthe annual	accounts					10,510	9,000
Non-audit services
All other non-audit	services					6,788	2,922

Number ofe The average	mployees monthly number ofemployees during the	year was:
		2020	2019
		Number	Number
Teaching		71	67
Welfare		30	33
Premises		2	3
Support		10	13
		113	116
Employment	costs	2020	2019
		E	E
Wages and salaries		2,345,317	2,522,444
Social security costs		205,665	208,135
Other pension costs		368,890	261,352
		2,919,872	2,991,931

The number of employees whose annual remunerati were:	on was E60,000 or more
	2020	2019
	Number	Number
E60,000 —E69,999		1
f70,000-f79,999		1

Tangible fixe	d assets
			Freehold	Furniture,	Mowers &Motor	Total
			Buildings	Fixtures &	vehides
				Equipment
Cost orvaluation
At 1September 2019			3,168,916	1,192,366	103,202	4,464,484
Additions				37,307		37,307
At 31August	2020		3,168,916	1,229,673	103,202	4,501,791
Depreciation	and impairment
At 1September 2019			1,593,446	901,970	98,052	2,593,468
Depreciation	charged	in the year	77,928	60,989	1,212	140,129
At 31August	2020		1,671,374	962,959	99,264	2,733,597
Carrying amount
At 31August	2020		1,497,542	266,714	3,938	1,768,194
At 31August	2019		1,575,470	290,396	5,150	1,871,016

14	Debtors
			2020	2019
	Amounts falling due within one year:		f	f
	Trade debtors		53,600	157,089
	Prepayments	and accrued income	127,473	43,660
			181,073	200,749
15	Loans and overdrafts
			2020	2019
			f	f
	Otherloans		640,222	150,000
	Payable within	one year	241,156	150,000
	Payable after	one year	399,066

				2020	2019
			Notes	f	f
Borrowings				241,156	150,000
Other taxation	and social security			44,618	103,910
Deferred income			18	671,745	861,476
Trade creditors				85,572	118,559
Accruals and deferred		income		176,771	180,748
				1,219,862	1,414,693

					2020	2019
					f	f
	Borrowings				399,066
18	Deferred income
					2020	2019
					f	f
	Arising from Fees	paid in advance			671,745	861,476
	Deferred income	is included	in the financial statements	as follows:
					2020	2019
					f	f
	Current liabilities				671,745	861,476
					671,745	861,476
					2020	2019
						f
	Deferred Income	at 1September 2019			861,476	680,841
	Resources defered during the year				671,745	861,476
	Amount released	from previous year			(861,476)	(680,841)
	Deferred income	at 31August 2020			671,745	861,476

		Movement	Movement	in funds
	Balance at 1September	Income	Expenditure		Transfers Balance at31August
	2019					2020
	E
Capital Projects Fund	3,894	1,156				5,050
Sang'a donation	500					500
	4,394	1,156				5,550
Prior year
		Movement		in funds
	Balance at 1September	Income	Expenditure		Transfers Balance at31August
	2018					2019
	E	E		E	E	E
Capital Projects Fund		3,894				3,894
Sang'a donation	7,750	570		(7,820)		500
	7,750	4,464		(7,820)		4,394

				Movement	Movement	in funds
			Balance at 1	Income	Expenditure		Transfers	Balance at31
			September 2019					August 2020
			f	f		E	E	f
Designated	funds		10,539					10,539
Designated	funds		10,539					10,539
General funds			814,089	3,678,044	3,964,279			527,854
Total unrestricted		funds	824,628	3,678,044	3,964,279			538,393
Prior year
				Movement		in funds
			Balance at 1	Income	Expenditure		Transfers	Balance at31
			September 2018					August 2019
			E	E		f	f	E
Designated	funds		18,393				(7,854)	10,539
Designated	funds		18,393				(7,854)	10,539
General funds			1,225,471	3,604,030	4,023,266		7,854	814,089
Total unrestricted		funds	1,243,864	3,604,030	4,023,266			824,628

22	Analysis ofnet assets	between	funds
					Unrestricted	Restricted	Total
					Funds	Funds
	Fund balances at 31August 2020 are represented			by:
	Tangible assets				1,768,194		1,768,194
	Current assets/(liabiliti	es)			(830,735)	5,550	(825,185)
	Long term liabilities				(399,066)		(399,066)
					538,393	5,550	543,943
	Prior year
					Unrestricted	Restricted	Total
					Funds	Funds
					f	f
	Fund balances at 31August 2019are represented			by:
	Tangible assets				1,871,016		1,871,016
	Current assets/(liabilities)				(1,046,388)	4,394	(1,041,994)
					824,628	4,394	829,022

	2020	2019
	f	f
Within one year	21,047	22,067
Between two and five years	16,394	37,441
	37,441	59,508

2020	2019
f	f
209,026	200,056

								Amounts owed to related	Amounts owed to related
								parties
								2020	2019
	Loans from	Trustees						200,000	150,000
25	Cash generated from operations							2020	2019
								f	f
	Deficit for the year							(285,079)	(422,592)
	Adjustments	for:
	Investment	income recognised			in statement	offinancial	activities	(149)	(148)
	Depreciation	and impairment		oftangible fixed assets				140,129	149,812
	Movements	in working capital:
	Decrease in	stocks						44,057	6,718
	Decrease in	debtors						19,676	41,460
	(Decrease)/increase		in creditors					(96,256)	61,376
	(Decrease)/increase		in deferred		income			(189,731)	28,442
	Cash absorbed by operations							(367,353)	(134,932)

26	Analysis ofchanges in net (debt)/funds
		At1September	Cash flows	At 31August 2020
		2019
	Cash at bank and in hand	84,957	85,711	170,668
	Loans falling due within one year	(150,000)	(91,156)	(241,156)
	Loans falling due after more than one year		(399,066)	(399,066)
		(65,043)	(404,511)	(469,554)