2022-08-31-accounts - Orwell Park School Educational Trust Ltd

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				Page
Reference and Administrative		Details ofthe School, its Governors	and Advisers
Governors' Report				2-15
Statement ofGovernors' Responsibilities
Independent Auditor's	Report	on the Financial Statements		17-20
Statement of Financial	Activities			21
Balance Sheet				22
Statement ofCash Flows				23
Notes to the Financial	Statements			24-49

Governors			JA Davison,	JA Davison,	BA	Hone, Chair
			S Clark, BSc,FRICS, ACIArb
			BCooper,	MA, PGCE
			PJ Evans,	BA Hons, LTCL, PGCE
			A Leyshon,		BA Hons, ACA
			RA S Mallinson,			BSc,LLB
			AA Melrose, CA			(SA)
			C W Symes,		BSc,MAEd, MCGI, PGCE
			FStack, MA		ED(open), BA Hons, PGCE, Mont Dip
			R Bhoola
			K Prest
			TSexton
Company	registered
number			00912265
Charity registered
number			310481
Registered		office	Orwell Park		School
			Nacton
			Ipswich
			Suffolk
			IP10OER
Independent		auditor	MHA
			Colchester	Business Park
			910The Crescent
			Colchester
			Essex
			C04 9YQ
Bankers			Barclays Bank PLC
			1 Princes Street
			Ipswich
			Suffolk
			IP57RF
Solicitors			Barker Gotelee
			41cBarrack		Square
			Martlesham
			Ipswich
			Suffolk
			IPS7RF

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2022	2022	2022	2021
		Note	6	6	6	E
Income from:
Donations and grants		4	2,826		2,826	258,378
Charitable activities		5,6	4,357,525		4,357,525	3,882034
Other trading activities		9	151,186		151,186	157,869
Investments		10	308		308	74
Total income			4,511,845		4,511,845	4,308,355
Expenditure on:
Raising funds		11	45,072		45,072	38,009
Charitable activities		12,13	4,603,165		4,603,165	4,506,433
Total expenditure			4,648,237		4,648,237	4,544,442
Net movement in funds before other
recognised gains			(136,392)		(136,392)	(236,087)
Other recognised gains:
Gains on revaluation	offixed assets		1,009,997		1,009,997	314,846
Net movement in funds			873,605		873,605	78,759
Reconciliation offunds:
Total funds brought forward		24	4,442,221	3,668	4,445,889	4,367,130
Net movement in funds			873,605		873,605	78,759
Total funds carried forward		24	5,315,826	3,668	5,319,494	4,445,889

			Note	2022f	2022f	2021	2021f
Fixed assets
Tangible assets			18		7„187,196		6,148,414
Investments			19		100		100
					7,187,296		6,148,514
Current assets
Stocks			20	8,449		7,349
Debtors			21	309,954		210,010
Cash at bank and	in hand		27	852		386,124
				319,255		603,483
Creditors: amounts	falling	due within one
year			22	(1,017,038)		(1,019,875)
Net current liabilities					(697,783)		(416,392)
Total assets less	current	liabilities			6,489„513		5,732 122
Creditors: amounts	falling	due after more
than one year			23		(1,170,019)		(1,286,233)
Total net assets					5,319,494		4,445,889
Charity funds
Restricted funds			24		3,668		3,668
Unrestricted funds			24		5,315,826		4,442,221
Total funds					5,319,494		4,445,eeg

			Note	2022f	2021f
Cash flows from operating	activities
Net cash used in operating	activities		26	(340,211)	(164,031)
Cash flows from investing	activities
Investment income			10	308	74
Purchase oftangible fixed assets			18	(76,186)	(199,727)
Interest paid			11	(39,812)	(29,522)
Net cash used in investing	activities		11	(115,690)	(229,175)
Cash flows from financing	activities
Repayment of bank loan			23	(89,732)	(81,048)
Net cash used in financing	activities			(89,732)	(81,048)
Change in cash and cash	equivalents in	the year		(545,633)	(474,254)
Cash and cash equivalents	at the beginning	ofthe year		386,124	860,378
Cash and cash equivalents	at the end of	the year	27	(159,509)	385,124
The notes on pages 24 to49form part ofthese financial statements.

				Unrestricted	Total
				funds	funds
				2022	2022
					6
HMRC	Job	retention	scheme	2,826	2,826
				Unrestricted	Total
				funds	funds
				2021 6	2021f
HMRC	Job	retention	scheme	268,378	268,378

					Unrestricted	Total
					funds	funds
					2022	2022
					6	6
	Educational	operations			4,357,525	4,357,525
					Unrestricted	Total
					funds	funds
					2021	2021
	Educational	operations			3,882034	3,882,034
6.	Analysis of	income from charitable	activities	by type ofincome

						As resteled
					2022 f	2021 8
Fees	recivable			7	4,064,149	3,725,237
Other	ancillary	trading	income	8	293,376	156,797
					4,357,525	3,882,034

						2022	2021
						6
Gross	fees					4,885,403	4,455,158
Less;	total	bursaries,	grants	and	allowances	(821,254)	(729,921)
						4,064,149	3,725,237

Other ancillary trading income
		As restated
	2022	2021
		5
I earning support	78,011	59,940
Registration fees	5,872	6,175
Insurance commission	13,006	14,535
Sundry income	73,103	43,155
School activity income	108,504	29,910
Orwell Park activities income	14,880	3,080
	293,376	156,797

			Unrestricted	Total
			funds	funds
			2022	2022
			E	E
	Fundraising		30,271	30,271
	Concerts and events		9,218	9,218
	Letting income		111,697	111,697
	Total 2022		151,186	151,186
			Unrestricted	Total
			funds	funds
			2021	2021
	Fundraising		52916	52,916
	Letting income		104,953	104,953
	Total 2021		157,869	157,869
10.	Investment	income

			Unrestricted	Total
			funds	funds
			2022	2022
			E
Bank	interest	receivable	308	308
			Unrestricted	Total
			funds	funds
			2021f	2021 E
Bank	interest	receivable	74

		Unrestricted	Total
		funds	funds
		2022f	2022 F
Bank	interest	39,812	39,812
Cost	of lettings	5,260	5,260
Total	2022	45,072	45,072
		As restated	As restated
		Unrestricted	Total
		funds	funds
		2021	2021
Bank	interest	35,022	35,022
Cost	of lettings	2,987	2987
Total	2021as restated	38,009	38,009

				Unrestricted
				funds	Total
				2022	2022
					5
Schools	and	grant	making	4,603,165	4,603,165
				Unrestricted
				funds	Total
				2021	2021
Schools	and	grant	making	4,506,433	4,506,433

				Activities
				undertaken	Support	Total
				directly	costs	funds
				2022	2022	2022
				5	E
Schools	and	grant	making	3,795,261	807,904	4,603,165
				Activities
				undertaken	Support	Total
				directly	costs	funds
				2021f	2021f	2021 5
Schools	and	grant	making	3,794,047	712,386	4,506,433

		Total	Tolal
		funds	funds
		2022	2021
		6
Staffcosts		2,960,217	3,084,688
Depreciation		47,401	36,146
Teaching costs		88,112	73,549
Welfare costs		144,828	111,114
Premises costs		554,703	488,550
Total		3,795,261	3,794,047
Analysis ofsupport costs
		Total	Total
		funds	funds
		2022	2021f
Staff costs		361,893	396,121
School activities recharged		95,770	13,568
Miscellaneous		23,925	12,037
Printing, posting and stationary		37,509	30,602
Professional	fees	34,781	42,941
Marketing and recruitment		61,523	42,137
Concerts		27,091	10,887
Telephones		21,009	21,069
Computer costs		72,449	78,162
Bank charges		6,299	13,352
Bad debts		16,000	20,794
Commission	fees	33,755	17,993
Governance	costs	15,900	12,723
Total		807,904	712,386

					2022	2021
					6	8
Auditor's	remuneration	-Audit	ofthe financial	statements	9,075	8,250
Auditor's	remuneration	-Other	services		1,375	1,350
					10,450	9,600

	2022	2021
	E	8
Wages and salaries	2,632,607	2,808,115
Social security costs	253,422	254,009
Pension costs	436,081	418,685
	3,322,110	3,480,809

	2022	2021
	No.	No.
Teaching	49	52
Welfare	35	34
Maintenance	7	8
Administration	12	15
	103	109

2022	2021
No.	No.

	Freehold			Furniture,
	land and	Plant and	Motor	fixtures and
	buildings 6	equipment E	vehicles 6	fittings F	Total 6
Cost or valuation
At 1 September 2021	6,980,020	651,242	75,245	91,560	7,798,067
Additions		76,186			76,186
Revaluations	(350,020)				(350,020)
At 31August 2022	6,630,000	727,428	75,245	91,560	7,524,233
Depreciation
At 1 September 2021	1,360,017	194,101	75,245	20,290	1,649,653
Charge for the year		38,745		8,656	47,401
On revalued assets	(1,360,017)				(1,360,017)
At 31 August 2022		232,846	75,245	28,946	337,037
Net book value
At 31 August 2022	6„630,000	494,582		62,614	7,187,196
At 31August 2021	5,620,003	457,141		71,270	6,148,414

valuation	oft	he p	roperty remains appropriate for the p	urposes ofthese financial statements.
				2022	2021
Historic	cost	less	depreciation	3,364,293	3,432,752
				3,364,293	3,432 752

Stocks
		2022	2021
		E
Stationary	supplies	150	150
Food stocks		700	800
Oil stocks		7,599	6,399
		8,449	7,349

		2022	2021
		E
Due within one year
Trade debtors		70,354	1,099
Other debtors		140,251	56,568
Prepayments	and accrued income	99,339	82,663
School fees			69,680
		309,954	210,010

			2022	2021
			6
Bank overdraft			160,361
Bank loans			89,732	91,933
Fees in advance			343,612	366,841
Trade creditors			18,441	4,714
Lump sum fees (see	below)		17,931	53,021
Amounts owed to subsidiary		undertakings	100	100
Other taxation and social security			178,583	323,712
Final term deposits			23,000	31,000
Other creditors			62,396	62,585
Accruals and deferred	income		122,882	85,969
			1,017,038	1,019,875

					2022	2021
					6
Balance	at 1 September				101,937	235,319
Amount	of lump sum fees		received	in the year
Amount	utilised	in payment	of school fees to the school		(84,006)	(133,382)
Balance	at 31	August			17,931	101,937
					2022f	2021f
Ofwhich:
Payable	within	1 year			17,931	53,021
Payable	after 1	year				48,916
Balance	at 31August				17,931	101,937

						2022 F	2021f	2021f
Bank loans						1,076,786	1,164,317
Lump sum fees							48,916
Other taxation and social	security					24,233
Final term deposits						69„000	73,000
						1,170,019	1,286,233
							Other tax	an
	Bank	loan	Lump sum fees		Final term	deposit	social securii
	2022	2021	2022	2021	2022	2021	2022	20
	E	f	E	F	E	F	E
In more than one year
but not more than two
years	89,732	94,022		18,234	12,000	18,000	24,233
In more than two
years but not more
than five years	987,054	1,070,295		30,682	36,500	31,500
More than five years					20,500	23,500
	1,076,786	1,164,317		48,916	69,000	73,000	24,233

				Balance at 1				Balance at
				September			Gains/	31August
				2021 6	Income 6	Expenditure 6	(Losses) 6	2022 f
Unrestricted	funds
Designated	funds
Designated	fixed assets		fund	4,420,082		(47,401)		4,372,681
Fixed asset	revaluation		reserve	1,728,332			1,009,997	2,738,329
				6,148,414		(47,401)	1,009,997	7,111,010
General funds
General fund				(1,706,193)	4,511,845	(4,600,836)		(1,795,184)
Total Unrestricted		funds		4,442,221	4,511,845	(4,648,237)	1,009,997	5,315,826
Restricted funds
Other				3,668				3,668
Total offunds				4,445,889	4,511,845	(4,648,237)	1,009,997	5,319,494

Statement	offun	ds - prior year
		Balance at					Balance at
		1 September			Transfers	Gains	31August
		2020	Income	Expenditure	in/out	(Losses)	2021
			6		6		L
Unrestricted
funds
Designated
funds
Designated	fixed
assets fund		4,256,501		(36,146)	199,727		4,420,082
Fixed asset
revaluation
reserve		1,413,486				314,846	1,728,332
		5,669,987		(36,146)	199,727	314,846	6,148,414
General funds
General fund		(1,306,525)	4,308,355	(4,508,296)	(199,727)		(1,706,193)
Total
Unrestricted
funds		4,363,462	4,308,355	(4,544,442)		314,846	4,442,221
Restricted
funds
Other		3,668					3,668
Total offunds		4,367,130	4,308,355	(4,544,442)		314,846	4,445,889

Analysis ofnet assets between funds -current year
	Unrestricted	Restricted	Total
	funds	funds	funds
	2022	2022	2022
	E	5	5
Tangible fixed assets	7,187,196		7,187,196
Fixed asset investments	100		100
Current assets	315,587	3,668	319,255
Creditors due within one year	(1,017,038)		(1,017,038)
Creditors due in more than one year	(1,170,019)		(1,170,019)
Total	5,315,826	3,668	5,319,494
Analysis ofnet assets between funds - prior year
	Unrestricted	Restricted	Totai
	funds	funds	funds
	2021f	2021 5	2021f
Tangible fixed assets	6,148,414		6,148,414
Fixed asset investments	100		100
Current assets	599,815	3,668	603,483
Creditors due within one year	(1,019,875)		(1,019,875)
Creditors due in more than one year	(1,286,233)		(1,286,233)
Total	4,442 221	3,668	4,445,889

26.	Reconciliation	of	net	net	movement	movement	movement	in funds	in funds	to net cash flow from	to net cash flow from	to net cash flow from	operating	activities
														2022	2021f
	Net expenditure		for		the	year		(as	per	Statement	of	Financial
	Activities)													(136,392)	(236,087)
	Adjustments for:
	Depreciation charges												18	47,401	36,146
	Losses on investments													(308)	(74)
	(Increase)/decrease			in	stocks								20	(1,100)	1,669
	(Increase)/decrease			in	debtors								21	(99,944)	16,373
	(Decrease)/Increase			in creditors									23,22	(189,680)	(11,580)
	Interest paid												11	39,812	29,522
	Net cash used	in	operating				activities							(340,211)	(164,031)
27.	Analysis ofcash		and		cash equivalents
														2022	2021
														F
	Cash in hand													852	386,124
	Bank overdraft													(160,361)
	Total cash and	cash equivalents												(159,509)	386,124
28.	Analysis ofchanges				in net		debt
													At 1
												September			At 31
													2021	Cash flows	August 2022
														6	6
	Cash at bank and		in	hand									386,124	(385,272)	852
	Bank overdrah													(160,361)	(160,361)
	Debt due within	1	year									(144,954)		37,291	(107,663)
	Debt due after	1 year										(1,213,233)		136,447	(1,076,786)
												(972,063)		(371,895)	(1,343,958)