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|CHAIRMAN'S
STATEMENT||
|---|---|
|REPORT OF THE GOVERNING
BODY||
|INDEPENDENT AUDITOR'S REPORT|20|
|CONSOLIDATED
STATEMENTS OF FINANCIAL ACTIVITIES|23|
|BALANCE SHEETS|24|
|CONSOLIDATED
CASH FLOW STATEMENTS|25|
|NOTES TO THE FINANCIAL STATEMENTS|26|
|GOVERNORS, ADVISORS AND KEYSTAFF|44|
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|||||I
I
I
~|I|
|---|---|---|---|---|---|
|Mean gender
pay gap|||22.7%|lower
17.9%lower
24.1%lower||
|Median gender pay gap|||37.6%|lower
36,8%olower
31.7%lower||
|here has been a further reduction|in the|average full-time
equivalent
number ofpersons employed
during th||||
|ear to 632(2020:6671.This reduction
arose from staff reorganisation
measures
taken to reduce our cost bas||||||
|nd this process continues.
The overall impact|||for the year ended|31August 2021 is a greater reduction|in th|
|bsolute
number of men compared|to women||employees,
mainly|in the skilled tradesperson
category.|As|
|esult, there
is an increase
in the|average|pay|as well as an upward
movement
in the median
salary||for th|
|emaining,
albeit reduced male workforce.||||||
|Number ofemployees
-male|||72|77
117
137|403|
|Number ofemployees
-female|||212|207
167
147|733|
|%ofemployees
-male|||25.4%|27.1%
41.2%
48.2%|35.5%|
|%ofemployees
—female|||74.6%o|72.9%
58.8%
51.8%|64.5%|
|Proportion ofmen receiving a|bonus|0.01%|
|---|---|---|
|Proportion ofwomen
receiving|a bonus||
|Mean bonus gender pay gap||100.00%|
|Median bonus gender pay gap||100.00%|
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|reokdown ofenergy bet|reokdown ofenergy bet|ween
utilities and transp|ort
&other:|
|---|---|---|---|
|Tonnes CO2e||2020/21|2019/20|
|Electricity||908|990|
|Gas||2,453|1,979|
|Oil||634|435|
|LPG||235|178|
|Fuel &mileage||173|185|
|Water||62|68|
|Refrigerant|gases|113|170|
|Total||4,578|4,005|
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##
||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||Funds|Funds|2021|2020|
|||||Note|f'000|f'000|f'000|f'000|
|Income from:|||||||||
|Charitable
Activities:|||||||||
|Fees receivable|||||42,024||42,024|39,820|
|Other educational||income|||2,468||2,468|2,921|
|Other Trading Activities:|||||||||
|Other fees|and external||hiring||1,030||1,030|409|
|Subsidiary|trading|income|||707||707|549|
|Investment
income||||||||22|
|Donations,
grants and legacies|||||1,152|98|1,250|1,745|
|Other income|||||107||107|104|
|Total Income|||||47,488|98|47,586|45,570|
|Expenditure
on:|||||||||
|Charitable
Activities|||||(44,743)|(3)|(44,746)|(47,240)|
|Raising Funds:|||||||||
|Other fees|and external||hiring||(1,310)||(1,310)|(1,150)|
|Subsidiary|trading|expenditure|||(591)||(591)|(503)|
|Fundraising|||||(119)||(119)|(142)|
|Finance and Other Costs|||||(273)||(273)|(719)|
|Total Expenditure|||||(47,036)|(3)|(47,039)|(49,754)|
|Net income /(expenditure)|||||452|95|547|(4,184)|
|Transfers between
funds||||19|3|(3)|||
|Other Recognised Gains/(Losses):|||||||||
|Re-measurement
ofthe|net defined||benefit|22|1,457||1,457|124|
|pension
liability|||||||||
|Net Movement
in Funds|||||1,912|92|2,004|(4,060)|
|Total Funds Brought Forward|||||39,503|776|40,279|44,339|
|Total Funds Carried Forward||||19|41,415|868|42,283|40,279|
|||||||6~ron||~Com|an|
|---|---|---|---|---|---|---|---|---|---|
||||||Note|2021|2020|2021|2020|
|||||||E'000|E'000|E'000|E'000|
|Fixed Assets||||||||||
|Tangible fixed assets|||||11|59,378|62,903|59,364|62,903|
|Investments|||||12|||325|325|
|||||||59,378|62,903|59689|63,228|
|Current Assets||||||||||
|Stocks|||||13|315|294|||
|Debtors|||||14|1,377|1,191|1,263|1,111|
|Cash at bank|and in|hand||||11,245|6,000|11,223|5,976|
|||||||12,937|7,485|12,486|7,087|
|Creditors: amounts||falling due within||one year|15|(18,185)|(17,677)|(18,081)|(17,625)|
|Net Current|liabilities|||||(5,248)|(10,192)|(5,595)|(10,538)|
|Total Assets|Less Current||Liabilities|||54,130|52,711|54,094|52,690|
|Creditors: amounts||falling due after more than one|||16|(5,825)|(4,500)|(5,825)|(4,500)|
|year||||||||||
|Net Assets Excluding||Pension Liability||||48,305|48,211|48,269|48,190|
|Defined benefit pension|||liability||22|(6,022)|(7,932)|(6,022)|(7932)|
|Net Assets||||||42,283|40,279|42,247|40,258|
|Funds||||||||||
|Unrestricted|funds|||General||47,437|47,435|47,401|47,414|
|||||Pension reserve|22|(6,022)|(7,932)|(6,022)|(7,932)|
||||||19|41,415|39,503|41,379|39,482|
|Restricted funds|||||19|868|776|868|776|
|Total Funds||||||42,283|40,279|42,247|40,258|
||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
|||||||Note|E'000|E'000|
|Operating
Activities|||||||||
|Cash generated
from/(used||by) operations||||23|1,389|(529)|
|Investing
Activities|||||||||
|Interest received||||||||22|
|Purchase oftangible fixed|assets||||||(1,960)|(4,901)|
|Proceeds on sale oftangible||fixed assets|||||23|717|
|Net cash used in Investing||Activities|||||(1,937)|(4,162)|
|Financing Activities|||||||||
|Repayment
ofborrowings|||||||(622)|(581)|
|Interest paid|||||||(61)|(103)|
|Receipts from new advance||fee contracts|||||6,516|3,597|
|Advanced
fees repaid|||||||(40)|(192)|
|Net cash generated
from Financing|||Activities||||5,793|2,721|
|Change
in cash and cash equivalents|||in|year|||5,245|(1,970)|
|Cash and cash equivalents|at beginning|||ofthe year|||6,000|7,970|
|Cash and cash equivalents|at end of||the|year|||11,245|6,000|
|Relating to:|||||||||
|Bank balances Included
in cash at bank||||and in hand|||11,245|6,000|
|Analysis ofmovements
in net cash|||||2020|Cash flows|Other|2021|
||||||||Movements||
||||||E'000|E'000|E'000|E'000|
|Cash at bank and in hand|||||6,000|5,245||11,245|
|Total cash and cash equivalents|||||6,000|5,245||11,245|
|Loan (Due in less than one year)|||||(622)|622|(654)|(654)|
|Loan (Due after more than one year)|||||(654)||654||
|Total|||||4,724|5,867||10,591|
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|or this pur|pose are:||||
|---|---|---|---|---|
||||Straight|Line|
||||Basis 'Ya||
|Freehold|land||||
|Freehold|property|||2 —4|
|Extensions and improvements||to buildings||10|
|Fixtures, fittings and equipment||||15|
|Computers|||33 1/3||
|Motorised|plant and vehicles|||15|
|Assets under construction|||||
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||||||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||E'000|f'000|
||Net Income/(Expenditure)|||||is stated after|||charging:||||
||Auditor's|||remuneration|for:||||||||
|||||External Audit||(Company f37,830(2020:E36,240))|||||38|40|
|||||Taxation - compliance||||services to the Company||and its subsidiaries|2|2|
|||||Pension scheme audit|||||||8|7|
||Depreciation
oftangible||||fixed assets||||||5,475|5,585|
||Operating|||lease costs|||||||111|113|
||Profit on||disposal oftangible fixed|||||assets|||(13)|717|
||Stock||||||||||||
|||||Amounts
expensed|||to|cost of|sales||332|303|
|||||Impairment|losses recognised||||in cost ofsales||1|4|
||Interest|payable|||||||||||
|||||Loan interest|||||||61|103|
|||||Net interest|on the||net|defined benefit pension||liability|130|138|
|||||Interest on fees in advance|||||||69|69|
|3.|Fees Receivable||||||||||||
||||||||||||2021|2020|
||||||||||||f'000|E'000|
||School fees||||||||||50,799|48,356|
||Less: Scholarships||||||||||(3,048)|(2,805)|
||Bursaries||||||||||(3,592)|(3,636)|
||Other|||concessions|||||||(2,135)|(2,095)|
||||||||||||42,024|39,820|
||Other Educational
Income||||||||||||
||||||||||||2021|2020|
||||||||||||f'000|f'000|
||Registration|||and acceptance||fees|||||341|337|
||Travel, School trips, examination||||||fees and other charges to students||||2,127|2,584|
||||||||||||2,468|2,921|
|5.|Investment||Income||||||||||
||||||||||||2021|2020|
||||||||||||f'000|f'000|
||Bank and|other interest||||||||||22|
|6.|Donations,|Grants and Legacies|||||||||||
||||||||||||2021|2020|
||||||||||||E'000|f'000|
||Donation|income|||||||||219|(715)|
||Donation|(refunds)|||||||||||
||Coronavirus|||JRSGovernment||Grant|||||1,031|2,460|
||||||||||||1,250|1,745|
##
##
|Other Income|||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||E'000|f'000|
|Interest on overdue fees|||||29|28|
|Rents received|||||78|76|
||||||107|104|
|Analysis ofExpenditure|||||||
|||Staff||Deprec|2021|2020|
|||costs|Other|-iation|Total|Tota I|
|||f'000|f'000|f'000|f'000|f'000|
|Charitable
activities:|||||||
|Teaching costs||22,059|1,827|474|24,360|25,131|
|Welfare||2,824|3,921|90|6,835|6,392|
|Premises||1,804|2,808|4,520|9,132|10,882|
|Support costs ofSchooling||2,593|1,355|389|4,337|4,771|
|Governance
costs|||82||82|64|
|Total Charitable
Activities||29,280|9,993|5,473|44,746|47,240|
|Raising Funds:|||||||
|Ancillary fees and external|hiring|862|448||1,310|1,150|
|Subsidiary
trading expenditure||188|401|2|591|503|
|Fundratsmg||79|40||119|142|
|Finance and other costs|||273||273|719|
|Total Expenditure||30,409|11,155|5,475|47,039|49,754|
|Prior year Analysis of Expenditure|||||||
|||Staff||Deprec|2020|2019|
|||costs|Other|-iation|Tots I|Tote I|
|||f'000|f'000|f'000|f'000|f'000|
|Charitable
activities:|||||||
|Teaching costs||7|2,588|516|25,131|25,106|
|Welfare||2,653|3,637|102|6,392|8,257|
|Premises||2,290|4,057|4,535|10,882|10,134|
|Support costs ofSchooling||2,758|1,581|432|4,771|4,902|
|Governance
costs|||64||64|77|
|Total Charitable
Activities||8|7|5,585|47,240|48,476|
|Raising Funds:|||||||
|Ancillary fees and external|hiring|748|402||1,150|4,676|
|Subsidiary
trading||138|365||503|723|
|Fundraising||58|84||142|160|
|Finance and other costs|||719||719|518|
|Total Expenditure||2|7|5,585|49,754|54,553|
|9.
Employee Information|||||
|---|---|---|---|---|
||2021|2020|2021|2020|
||Group|Group|Company|Company|
||Number|Number|Number|Number|
|The average number ofpersons|||||
|(full-time
equivalent)
employed|||||
|during the year was:|||||
|Teaching and coaching|258|266|258|266|
|Administration
and support|374|401|367|394|
||632|667|625|660|
|The average number ofpersons|||||
|employed
by the group during the|999|1,053|988|1,049|
|year was:|||||
|Staff costs (forthe above persons)|f'000|f'000|f'000|E'000|
|Wages and salaries|24,677|25,068|24,813|24,942|
|Socia I security costs|2,251|2,118|2,242|2,111|
|Defined benefit pension costs|2,910|2,927|2,910|2,927|
|Defined contribution
pension
costs|571|559|564|553|
||30,409|30,672|30,529|30,533|
|Aggregate
employee costs of key|||||
|management
personnel
(including|||||
|salary, benefits, pension|||||
|contributions
and national|||||
|msurance)|761|583|761|583|
||2021|2020|
|---|---|---|
||Number|Number|
|E60,001 - E70,000|45|36|
|E70,001 - f80,000|14|9|
|E80,001 - E90,000|5|5|
|f90,001 —f100,000|1||
|E100,001 - f110,000|1||
|E110,001 - E120,000|||
|E130,001 - E140,000|||
|E220,001 - E230,000|||
|f230,001 —f240,000|||
|E280,001 —E290,000|||
||||Extensions|||||
|---|---|---|---|---|---|---|---|
|||Assets|and|Fixtures||||
|||under|irnprove-|Fittings||Motorised||
||Freehold|construct-|ments to|and||Plant and||
||Property|ion|buildings|Equipment|Computers|Vehicles|Total|
||f'000|f'000|f'000|f'000|E'000|E'000|f'000|
|Cost||||||||
|At15ept 2020|76,907|888|30,053|7,205|2,881|801|118,735|
|Additions||815|452|172|521||1,960|
|Transfers||(889)|807|82||||
|Disposals|||(1,994)|(937)|(969)|(5)|(3,905)|
|At 31Aug 2021|76,907|814|29,318|6,522|2,433|796|116,790|
|Depreciation||||||||
|At 1Sept 2020|31,241||16,450|4,961|2,537|643|55,832|
|Charge for year|1,573||2,743|680|437|42|5,475|
|Disposals|||(1,994)|(930)|(969)|(2)|(3,895)|
|At 31Aug 2021|32,814||17,199|4,711|2,005|683|57,412|
|Net book value||||||||
|At 31Aug 2U21|44,0'93|814|12,119|1,811|428|113|59,378|
|At 1Sept 2020|45,666|888|13,603|2,244|344|158|62,903|
|Tangible Fixed Assets (Company)||||||||
||||Extensions|||||
|||Accetc|and|Fixturec||||
|||under|improve-|Fittings||Motorised||
||Freehold|construct-|ments to|and||Plant and||
||Propertv|ion|buildings|Equipment|Computers|Vehicles|Tota I|
||f'000|f'000|f'000|f'000|f'000|f'000|f'000|
|Cost||||||||
|At 1Sept 2020|76,907|888|30,053|7,200|2,841|774|118,663|
|Additions||815|452|172|505||1,944|
|Transfers||(889)|807|82||||
|Disposals|||(1,994)|(937)|(969)|(5)|(3,905)|
|At 31Aug 2021|76,907|814|29,318|6,517|2,377|769|116,702|
|Depreciation||||||||
|At 1Sept 2020|31,241||16,450|4,956|2,497|616|55,760|
|Charge for
year|1,573||2,743|680|435|42|5,473|
|Disposals|||(1,994)|(930)|(969)|(2)|(3,895)|
|At 31Aug 2021|32,814||17,199|4,706|1,963|656|57,338|
|Net book value||||||||
|At 31Aug 2021|44,093|814|12,119|1,811|414|113|59,364|
|At 1Sept 2020|45,666|888|13,603|2,244|344|158|62,903|
|Fixed Asset I|nve|stment|s||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||2021|2020|
|Company|||||||||||||f'000|f'000|
|Interest
in group undertakings||||||at cost|||||||325|325|
|The Company|had the following|||||subsidiary||undertakings,||at the year-end,||all with the common||registered|
|office on page|45:||||||||||||||
|||||||||Millfield|||Millfield||Millfield|Millfield|
||||||||Overseas||||School||Overseas|School|
|||||||||Limited||Enterprises|||Limited|Enterprises|
||||||||||||Limited|||Limited|
|||||||||2021|||2021||2020|2020|
|Nature of business||||||||Dormant|||Service||Dormant|Service|
|Company
number|||||||08339295|||01553104|||08339295|01553104|
|Proportion
ofnominal|||value||||||||||||
|of issued shares||held by the||||||100SS|||100SS||100'Yo|100'K|
|Company|||||||||||||||
|Country ofincorporation||||||||England|||England||England|England|
|Results for the Subsidiary||||as at|||||||||||
|the 31August|||||||||||||||
|||||||||f'000|||f'000||f'000|E'000|
|Net assets|||||||||||361|||346|
|Turnover|||||||||||998|||898|
|Expenses|||||||||||(921)|||(835)|
|Profit|||||||||||77|||63|
|Distribution|||||||||||(62)|||(166)|
|Net Profit for|financial||year||||||||15|||(103)|
|he results ofthe||subsidiary|||entities have||been included|||in these consolidated|||financial statements.||
|Millfield Overseas||Limited was incorporated||||||on 21|December||2012and remains dormant.||||
|tocks|||||||||||||||
||||||||||Group||||Company||
|||||||||2021|||2020||2021|2020|
|||||||||f'000|||f'000||f'000|f'000|
|Goods for resale|||||||||315||294||||
|ebtors: amounts||falling due|||within one||year||||||||
|||||||||||Group|||Company||
||||||||||2021||2020||2021|2020|
|||||||||f'000|||f'000||f'000|f'000|
|Trade debtors|||||||||954||550||815|527|
|Other debtors|||||||||7||356||7|356|
|Amounts
due|from subsidiary||||||||||||79||
|Prepayments|||||||||416||285||362|228|
|||||||||1,377|||1,191||1,263||
##
##
##
|Creditors: amounts|falling due within one|year|||||
|---|---|---|---|---|---|---|
||||Group||Company||
|||2021||2020|2021|2020|
|||E'000||E'000|E'000|E'000|
|Fixed term bank loan (see note 17)||654||622|654|622|
|Amounts
received under advance fee
scheme (see note 18)||5,662||2,827|5,662|2,827|
|Amount
due to subsidiary||||||101|
|Trade creditors||1,118||893|1,015|740|
|Taxation and social|security costs|954||1,134|954|1,134|
|Other creditors||3,799||3,971|3799|3,971|
|Accruals||644||1,670|643|1,670|
|Schoolfees paid in|advance|4,609||5,659|4,609|5,659|
|School fee deposits|held|745||901|745|901|
|||18,185||17,677|18,081|17,625|
##
|||||Group||Company||
|---|---|---|---|---|---|---|---|
||||2021||2020|2021|2020|
||||E'000||E'000|E'000|E'000|
|Fixed term bank loan||(see note 17)|||654||654|
|Amounts
scheme|received under advance fee
(see note 18)||1,371||1,301|1,371|1,301|
|School fees deposits||held|4,454||2,545|4,454|2,545|
||||5,825||4,500|5,825|4,500|
|he loan
is unsecured
and repayable
over 20 year
.88%%d p.a, as follows:|s from 2 September
2002 at a fixed inte|rest
rate|
|---|---|---|
||2021|2020|
||E'000|E'000|
|Over one year:|||
|Within 1to 2 years||654|
|||654|
|Within one year|654|622|
||654|1,276|
##
|he unused
balance ofthe advance
is repayable
up
e applied
as follows:|on request.
It is intended
that the advanc|e fees will|
|---|---|---|
||2021|2020|
||E'000|E'000|
|Over one year:|||
|Within 1to 2 years
Within 3-5years|623
577|724
372|
|After 5years|171|205|
||1,371|1,301|
|Within one year|5,662|2,827|
|uring th|e year w|ere:||||
|---|---|---|---|---|---|
|||||2021|2020|
|||||E'000|f'000|
|Balance|at 1September|||4,128|5,564|
|New contracts||||6,516|3,597|
|Amount|accrued|to contracts||69|69|
|||||10,713|9,230|
|Amounts|utilised|in the payment|offees to the School|(3,640)|(4,910)|
|Refunds|offees|paid in advance||(40)|(192)|
|Balance|at 31August|||7,033|4,128|
|Funds —Gro|up||||||
|---|---|---|---|---|---|---|
||||||Defined||
|||Balance 1|||benefit|Balance 31|
|||September|||liability/|August|
|||2020|Income|Expenditure|transfers|2021|
|||f'000|f'000|f'000|f'000|f'000|
|Unrestricted|funds:||||||
||General|47,435|47,488|(47,489)||47,437|
||Pension reserve|(7,932)||453|1,457|(6,022|
|||39,503|47,888|(47,036)|1,460|41,415|
|Restricted:|||||||
||Millfield Centre Fund|653|(635)||(18)||
||Sports Equipment
Fund|1|103|(3)|3|104|
||Other Funds|122|630||12|764|
|||776|98|(3)|(3)|868|
|Total Group||40,279|47,586|(47,039)|1,457|42,283|
||||||Defined|Balance 31|
|||Balance 1|||benefit|August|
|||September|||liability/|2020|
|||2019|Income|Expenditure|transfers||
|||E'000|f'000|E'000|f'000|E'000|
|Unrestricted|funds:||||||
|General||51,164|46,288|(50,036)|19|47,435|
|Pension reserve||(8,338)||282|124|(7,932)|
|||42,826|46,288|(49,754)|143|39,503|
|Restricted:|||||||
|Millfield Centre Fund||1,418|(746)||(19)|653|
|Sports Equipment|||||||
|Fund|||||||
|Other Funds||94|28|||122|
|||1,513|(718)||(19)|776|
|Total Group||44,339|45,570|(49,754)|124|40,279|
|—Company|||||||||
|---|---|---|---|---|---|---|---|---|
||||||||Defined||
|||||Balance 1|||benefit|Balance at|
|||||September|||liability/|31August|
|||||2020|Income|Expenditure|transfers|2021|
|||||f'000|f'000|f'000|f'000|f'000|
|Unrestricted||funds:|||||||
|||General||47,414|46,792|(46,903)|98|47,401|
|Pension reserve||||(7,932)||453|1,457|(6,022)|
|||||39,482|46,792|(46,450)|1,555|41,379|
|Restricted|funds:||||||||
|||Millfield Centre Fund||653|(635)||(18)||
|||Sports Equipment|Fund|1|103|(3)|3|104|
|||Other Funds||122|630||12|764|
|||||776|98|(3)|(3)|868|
|Total Company||||40,258|46,890|(46,453)|1,552|42,247|
||||||||Defined||
|||||Balance 1|||benefit|Balance at|
|||||September|||liability/|31August|
|||||2019|Income|Expenditure|transfers|2020|
|||||f'000|f'000|f'000|f'000|f'000|
|Unrestricted||funds:|||||||
||General|||51,040|45,757|(49,600)|217|47,414|
|Pension reserve||||(8,338)||282|124|(7,932)|
|||||42,702|45,757|(49,318)|341|39,482|
|Restricted funds:|||||||||
||Millfield (.'entre Fund|||1,418|(746)||(19)|653|
||Sports Equipment||Fund|1||||1|
||Other Funds|||94|28|||122|
|||||1,513|(718)||(19)|776|
|Total Company||||44,215|45,039|(49,318)|322|40,258|
|Allocation o|fGroup Net Ass|ets||||||
|---|---|---|---|---|---|---|---|
|||||Net current|||At 31|
||||Fixed|assets/|Long term|Pension|August|
||||assets|(habihties)|liabilities|reserve|2021|
||||f'000|f'000|f'000|E'000|f'000|
|Unrestricted|funds:|||||||
||General||59,378|(6,116)|(5,825)||47,437|
||Pension reserve|||||(6,022)|(6,022)|
|Restricted funds||||||||
||Sports Equipment|Fund||104|||104|
||Other Funds|||764|||764|
|Total Group|as at 31August|2021|59,378|(5,248)|(5,825)|(6,022)|42,283|
##
||||||Net current|||At 31|
|---|---|---|---|---|---|---|---|---|
|||||Fixed|assets/|Long term|Pension|August|
|||||assets|(liabilities)|liabilities|reserve|2020|
|||||f'000|f'000|f'000|E'000|f'000|
|Unrestricted||funds:|||||||
|||General||62,903|(10,968)|(4,500)||47,435|
|||Pension reserve|||||(7,932)|(7,932)|
|Restricted|funds||||||||
|||Millfield Centre Fund|||653|||653|
|||Sports Equipment|Fund||1|||1|
|||Other Funds|||122|||122|
|Total Group||as at 31August|2020|62,903|(10,192)|(4,500)|(7,932)|40,279|
|Capital Commitments|||||||||
||||||Group||Company||
|||||2021|2020||2021|2020|
|||||E'000|f'000||E'ODO|f'000|
|Contracted
August||but not provided|as at 31|357|||357||
##
##
##
|||||2021|2020|
|---|---|---|---|---|---|
|||||E'000|E'000|
|Statement offinancial position||||||
|Fair value ofscheme assets||||15,058|13,388|
|Present value ofdefined benefit obligation||||(21,080)|(21,320)|
|Net deficit in scheme||||(6,022)|(7,932)|
|Changes
in the defined benefit obligation||||||
|Defined benefit obligation at start ofperiod||||21,320|21,928|
|Interest cost on defined benefit obligation||||||
|Past service cost||||357|366|
|Benefit paid||||(705)|(776)|
|Actuarial
loss/(gain)||||108|(198)|
|Defined benefit obligation|at end ofperiod|||21,080|21,320|
|Changes
in the fair value ofscheme assets||||||
|Fair value ofscheme assets|at start ofperiod|||13,388|13,590|
|Interest income on scheme|assets|||227|228|
|Return less interest income|on scheme assets|||1,565|(74)|
|Contributions
by the employer||||583|420|
|Benefits paid||||(705)|(776)|
|Fair value ofscheme assets|at end ofperiod|||15,058|13.,388|
|Total expense recognised
in expenditure||||||
|Net interest on net defined|benefit
liability|||130|138|
|Past service cost||||||
|Expenditure
charged
in year||||130|138|
|Total amount
recognised
in|the statement||offinancial activities|||
|Return less interest income|on scheme assets|||1,565|(74)|
|Actuarial
(loss)/gain
on liabilities||||267|198|
|Change
in assumption||||(375)||
|Re-measurement
(loss)/gain|recognised|in|the SOFA|1,457|124|
|Assets||||||
|Target return||||13,056|11,576|
|Property||||1,864|1,698|
|Insurance
annuities||||86|95|
|Cash and net current assets||||52|19|
|Fair value ofscheme assets||||15,058|13,388|
|A«tuel return on scheme assets over period||||1,792|154|
|Reconciliation offunded status||||||
|Opening
deficit||||(7,932)|(8,338)|
|Employer contribution||||583|420|
|Charge recorded
in SOFA||||(130)|(138)|
|(Loss)/Gain
recorded
in statement
offinancial activities||||1,457|124|
|Closing deficit||||(6,022)|(7,932)|
|||||2021|2020|
|---|---|---|---|---|---|
||Main financial assumptions|||/o pa|Xi pa|
||Discount rate|||1.8|1.7|
||Price inflation:|||||
||—R PI|||3.4|3.1|
||—CPI|||2.6|2.3|
||Deferred pension increases:|||||
||-Pensions accrued to 5/4/09|||2.6|2.3|
||-Pensions accrued from 6/4/09|||2.5|2.3|
||Pension increases
in payment:|||||
||—GMPs accrued from 6/4/88|||3.0|3.0|
||- Non-GMPs accrued to 31/8/05|||3.2|3.0|
||—Pension accrued from 1/9/05|||2.2|2.1|
||Mortality assumptions
and life expectancies|||2021|2020|
||Expected future
lifetime from age 65:|||Years|Years|
||-Male currently
aged 65|||21.8|21.8|
||-Female currently
aged 65|||24.1|24.1|
||—Male currently
aged 45|||22.8|22.8|
||-Female currently
aged 45|||25.3|25.2|
|23.|Reconciliation ofNet Income/(Expenditure)||to net cash generated|from operations||
|||||2021|2020|
|||||E'000|E'000|
||Net Income/(Expenditure)|||547|(4,184)|
||Adjustmenrc
fnr|||||
||Depreciation
oftangible
fixed assets|||5,475|5,585|
||Defined benefit pension scheme adjustment|||(583)|(420)|
||Interest receivable||||(22)|
||Interest payable|||260|310|
||Gain on sale oftangible fixed assets|||(13)|705|
||Operating
cash flows before movements|in|working capital|5,686|1,974|
||Increase
in stocks|||(21)|17|
||Increase in debtors|||(186)|194|
||Decrease in creditors|||(450)|2,196|
||Advance fees applied|||(3,640)|(4,910)|
|||||(4,297)|(2,503)|
||Cash generated
from operations|||1,389|(529)|
|eases, as|follo|ws:|||||
|---|---|---|---|---|---|---|
||||Other||Motor Vehicles||
||||2021|2020|2021|2020|
||||E'000|E'000|E'000|E'000|
|Amounts|due|within one year|29|36|81|73|
|Amounts|due|in two to five years|42|43|241|10|
##
##
##
|Prior year Consolidated|State|ment|ofFinanc|ial Activities|by Fund|||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|
||||||Funds|Funds|2020|
|||||Note|f'000|f'000|f'000|
|Income from:||||||||
|Charitable
Activities:||||||||
|Fees receivable|||||39,820||39,820|
|Other educational||income|||2,921||2,921|
|Other Trading Activities:||||||||
|Other fees|and external||hiring||409||409|
|Subsidiary|trading|income|||549||549|
|Investment
Income|||||17|5|22|
|Donations and legacies|||||2,468|(723)|1,745|
|Other income|||||104||104|
|Totallncome|||||46,288|(718)|45,570|
|Expenditure
on:||||||||
|Charitable
Activities|||||(47,240)||(47,240)|
|Raising Funds:||||||||
|Other fees|and external||hiring||(1,150)||(1,150)|
|Subsidiary|trading|expenditure|||(503)||(503)|
|Fundraising|||||(142)||(142)|
|Finance and Other Costs|||||(719)||(719)|
|Total Expenditure|||||(49,754)||(49,754)|
|Net (expenditure)|||||(3,466)|(718)|(4,184)|
|Transfer between
funds|||||19|(19)||
|Other recognised
losses:||||||||
|Re-measurement
ofthe|net defined||benefit|22|124||124|
|liability||||||||
|Net Movement
In Funds|||||(3,323)|(737)|(4,060)|
|Total Funds Brought Forward|||||42,826|1,513|44,339|
|Total Funds Carried Forward||||19|39,503|776|40,279|
||||||||42|
##
##
##
##
##