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|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|
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|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|
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|||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)|
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|||||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|
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|||||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|||||||
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|||||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||
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|||||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|
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|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|
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|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|
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|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|
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|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|
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|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|
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||||||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|
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|||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|
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|||||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|
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|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|
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|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)|
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|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)|