| Page | ||||
|---|---|---|---|---|
| Reference and Administrative | Details ofthe School, its Governors | and Advisers | ||
| Governors' Report |
||||
| Statement ofGovernors' Responsibilities |
||||
| Independent Auditor's |
Report | on the Financial Statements | 16 —19 | |
| Statement of Financial | Activities | 20 | ||
| Balance Sheet | 21 | |||
| Statement of Cash Flows | 22 | |||
| Itotes tothe Financial | Statements | 23-47 |
| REFERENCE AND ADMINISTRATIVE DETAILS |
REFERENCE AND ADMINISTRATIVE DETAILS |
REFERENCE AND ADMINISTRATIVE DETAILS |
OF THE SCHOOL, ITSGOVERNORS AND ADVISERS | OF THE SCHOOL, ITSGOVERNORS AND ADVISERS | OF THE SCHOOL, ITSGOVERNORS AND ADVISERS | OF THE SCHOOL, ITSGOVERNORS AND ADVISERS |
|---|---|---|---|---|---|---|
| FOR THE YEAR ENDED | 31 AUGUST 2023 | |||||
| Governors | JA Devison, BA Hone, Chair |
|||||
| S Clark, BSc,FRICS, | ACIArb | |||||
| 8 Cooper, MA, PGCE | ||||||
| P J Evans, BA Hons, LTCL, PGCE | ||||||
| A Leyshon, BAHone, |
ACA (resigned 23June 2023) | |||||
| RASMallinson, BSc,LLB |
||||||
| A A Melrcse, CA (SA) | ||||||
| CW Symes, BSc, MAEd, MCGI, PGCE | ||||||
| F Stack. MA ED(open), BAHans, PGCE, Mont | Dip (resigned 23June 2023) | |||||
| R Bhoola | ||||||
| K Prest | ||||||
| TSexton | ||||||
| 0 Asplin Hearsey (appointed | 23 November | 2022) | ||||
| W RDavidson (appointed 23 November 2022) |
||||||
| K C Lawson (appointed 23 November 2022) | ||||||
| TR Pasco (appointed | 23 November 2022) | |||||
| AJGwyther-Sandover | (appointed 23 November | 2022) | ||||
| JPiper (appointed 11 |
March | 2023) | ||||
| P Marshall (appointed |
23June 2023) | |||||
| Company registered |
||||||
| number | 00912265 | |||||
| Charity registered | ||||||
| number | 310481 | |||||
| Registered office | Orwell Park School | |||||
| Nacton | ||||||
| Ipswich | ||||||
| Suffolk | ||||||
| IP100ER | ||||||
| Independent | auditor | MHA | ||||
| Colchester Business Park | ||||||
| 910The Crescent | ||||||
| Colchester | ||||||
| Essex | ||||||
| C04 9YQ | ||||||
| Bankers | Barclays Bank PLC | |||||
| 1 Princes Street | ||||||
| Ipswich | ||||||
| Suffolk | ||||||
| IP5 7RF | ||||||
| Solicitors | Barker Gotelee | |||||
| 41cBarrack Square | ||||||
| Martlesham | ||||||
| Ipswich | ||||||
| Suffolk | ||||||
| IP57RF |
| Unrestricted | Restricted | Total | Tata) | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| Note | 2023 F |
2023 | 2023 E |
2022f | ||
| Income from: | ||||||
| Donations and grants |
4 | 2,626 | ||||
| Charitable activities |
5 | 4,198,825 | 4,198,825 | 4,357,525 | ||
| Other trading activities |
9 | 198,975 | 198,975 | 151,166 | ||
| Investments | 10 | 753 | 753 | 308 | ||
| Total income | 4,398,553 | 4,398,653 | 4,511,645 | |||
| Expenditure on: |
||||||
| Raising funds | 11 | 74,819 | 74,819 | 45,072 | ||
| Charitable activities |
12,13 | 4,846,213 | 4,846,213 | 4,603,165 | ||
| Total expenditure | 4,921,032 | 4,921,032 | 4,646,237 | |||
| Net movement in funds before other |
||||||
| recognised gains |
(622,479) | (522379) | (136,392) | |||
| Other items: | ||||||
| Gains on revaluation | offixed assets | 1,009,997 | ||||
| Net movement in funds |
(522,479) | (522879) | 673,605 | |||
| Rsconcilladon offunds: |
||||||
| Tots!funds brought | forward | 23 | 5,315,826 | 3,668 | 6,319A94 | 4,445,869 |
| Net movement in funds |
(522,479) | (522r479) | 673,605 | |||
| Totai funds carried | forward | 4,793,347 | 3,668 | 4,797,015 | 5,319,494 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Note | E | |||||
| Cash flows from operating | activities | |||||
| Net cash used in operating | activities | 25 | (108,129) | (340,211) | ||
| Cash flows from investing | activities | |||||
| Purchase oftangible fixed assets | 17 | (76,186) | ||||
| Investment income |
10 | 753 | 308 | |||
| Interest paid | (55,944) | (39,812) | ||||
| Nst cash used in investing |
activities | 10 | (55,191) | (115,690) | ||
| Cash flows from Snancing | activities | |||||
| Repayments of bank loan |
(29,911) | (89,732) | ||||
| Net cash used in financing |
activities | (29,911) | (89,732) | |||
| Change in cash and cash |
equivalents | in | the year | (193,231) | (545,633) | |
| Cash and cash equivalents | at the beginning | ofthe year | (159,509) | 386,124 | ||
| Cash and cash equivalents | at the end of | the year | 26 | (352,740) | (159,509) | |
| The notes on pages 23to47form part ofthese financial statements. |
| Unrestricted | Total | ||||||
|---|---|---|---|---|---|---|---|
| funds | funds | ||||||
| 2023 | 2023 | ||||||
| 6 | 6 | ||||||
| Educational | operations | 4,198,825 | 4,198,825 | ||||
| Vnrestncted | Total | ||||||
| funds | funds | ||||||
| 2022f | 2022 | ||||||
| Educational | operations | 4,357,525 | 4,357,525 | ||||
| 6. | Analysis of | income | from charitable activities by type ofincome | ||||
| 2023 | 2022 | ||||||
| 6 | |||||||
| Fees receivable | 7 | 3,854,946 | 4,064,149 | ||||
| Other ancillary | trading | income | 8 | 343,879 | 293,376 | ||
| 4,198,825 | 4,357,525 | ||||||
| 7. | School fees | ||||||
| 2023 | 2022 | ||||||
| E | 5 | ||||||
| Gross fees | 4,673,609 | 4,885,403 | |||||
| Less total bursaries, | grants and allowances | (818,663) | (821,254) | ||||
| 3,854,946 | 4,064,149 |
| 2023 E |
2022f | |
|---|---|---|
| Learning support |
65,844 | 78,011 |
| Registration fees Insurance commission |
10,603 6,924 |
5,872 13,006 |
| Sundry income School activity income |
108,420 145,468 |
73,103 108,504 |
| Orwell Park activities income | 6,620 | 14,880 |
| 343,879 | 293,376 |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2023 | |
| E | E | |
| Fundraising | 53,781 | 53,781 |
| Concerts and events | 12,859 | 12,859 |
| Letling income | 132,335 | 132,335 |
| Total 2023 | 198,975 | 198,975 |
| Vnrestricted | Total | |
| funds | funds | |
| 2022 | 2022f | |
| Fundraising Concerts and events |
30,271 9,218 |
30,271 9,218 |
| LeNing income | 111,697 | 111,697 |
| Total 2022 | 151,186 | 151,186 |
| Unrestricted | 1otal | |||
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2023 | |||
| 6 | 6 | |||
| Bank interest | receivable | 753 | 753 | |
| Unrestncted | Total | |||
| funds | funds | |||
| 2022 | 2022 | |||
| 6 | ||||
| 308 | 308 | |||
| Bank interest | receivable | |||
| 11. | Expenditure | on raising funds | ||
| Unrestricted | Total | |||
| funds | funds | |||
| 2023 | 2023 | |||
| 6 | 6 | |||
| Bank interest | 62,818 | 62,818 | ||
| Cost of lettings | 12,001 | 12,001 | ||
| Total2023 | 74,819 | 74,819 | ||
| Unrestricted | Total | |||
| funds | funds | |||
| 2022 | 2022 | |||
| 6 | ||||
| Bank interest | 39,812 | 39,812 | ||
| Cost oflettings | 5,260 | 5,260 | ||
| Total 2022 | 45,072 | 45,072 |
| Unrestricted | |||||
|---|---|---|---|---|---|
| funds | Total | ||||
| 2023 | 2023 | ||||
| E | E | ||||
| Schools | and | grant | making | 4,846,213 | 4,846,213 |
| Unrestricted | |||||
| funds | Total | ||||
| 2022 | 2022 | ||||
| 8 | |||||
| Schools | and | grant | making | 4,603,185 | 4,603,165 |
| Activities | ||||||
|---|---|---|---|---|---|---|
| undertaken | Support | Total | ||||
| directly | costs | funds | ||||
| 2023 | 2023 | 2023 | ||||
| E | E | 8 | ||||
| Schools | and | grant | making | 3,683,953 | 1,162,260 | 4,846,213 |
| Actsetfes | ||||||
| undertaken | Support | 7olal | ||||
| directly | costs | funds | ||||
| 2022 | 2022 | 2022f | ||||
| Schools | and | grant | making | 3,795,261 | 807,904 | 4,503,165 |
| Total | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2022f | |||
| Staff costs | 2,818,086 | 2,980,217 | ||
| Depreciation | 48,694 | 47,401 | ||
| Teaching costs | 119,616 | 88,112 | ||
| Welfare costs | 160,192 | 144,828 | ||
| Premises costs | 539,365 | 554,703 | ||
| Total 2023 | 3,683,963 | 3,795,281 | ||
| Analysis ofsupport costs | ||||
| Total | Total | |||
| funds | funds | |||
| 2023 E |
2022f | |||
| Staf costs | 407,967 | 361,893 | ||
| School activities | recharged | 129,513 | 95,770 | |
| Miscellaneous | 15,906 | 23,925 | ||
| Printing, posting |
and stationary | 3$,587 | 37,509 | |
| Professional | fess | 164,173 | 34,781 | |
| Marketing and recruitment |
65,18$ | 51,523 | ||
| Concerls | 43,041 | 27,091 | ||
| Telephones | 21,149 | 21,009 | ||
| Computer costs | 67,121 | 72,449 | ||
| Bank charges | 18,65$ | 8,299 | ||
| Bad debts | 113,09$ | 18,000 | ||
| Commission | fees | 5$,81$ | 23,755 | |
| Governance costs | 21,043 | 15,900 | ||
| Total 2023 | 1,162,260 | 807,904 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Auditor's Auditor's |
remuneration remuneration |
-Audit ofthe financial - Other services |
statements | 12,500 1,750 |
9,075 1,375 |
| 14,250 | 10,460 |
| 2023 6 |
2022f | |
|---|---|---|
| Wages and salaries Social security costs Pension costs |
2,540,656 240,629 444,766 |
2,632607 253,422 436,081 |
| 3,226,053 | 3,322, 110 |
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Teaching | 46 | 49 |
| Welfare | 32 | 35 |
| Maintenance | 7 | 7 |
| Administration | 14 | 12 |
| 99 | 103 |
| 2023 | 2022 |
|---|---|
| No. | IVo. |
| In | the | band | E60,001 - 670,000 |
|---|---|---|---|
| In | the | band | 670,001 - 680,000 |
| In | the | band | f'.140,000 -6150,000 |
| Furniture, | |||||
|---|---|---|---|---|---|
| Freehold | Plant and | Motor | hxtures and | ||
| property 8 |
machinery 5 |
vehicles 5 |
fittings 6 |
Total 6 |
|
| Cost or valuation | |||||
| At 1 September 2022 | 6,630,000 | 727,428 | 75,246 | 91,560 | 7,524,233 |
| At 31August 2023 | 6,630,000 | 727,428 | 75,245 | 91,560 | 7,524,233 |
| Depreciation | |||||
| At 1 September 2022 | 232,846 | 75,245 | 28,946 | 337,037 | |
| Charge for the year | 38,038 | 8,666 | 46,694 | ||
| At 31August 2023 | 270,884 | 75,246 | 37,602 | 383,73'f | |
| Net book value | |||||
| At 31August 2023 | 6,630,000 | 456,544 | 53,968 | 7,140,502 | |
| Af31August 2022 | 6,630,000 | 494,582 | 62,614 | 7,187,196 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| E | |||||
| Historic | cost | less | depreciation | 3,295,833 | 3,364,293 |
| 3,295,833 | 3,364,293 |
| Name | Company | Registered officeor | Registered officeor | Principal activity | Holding | |||
|---|---|---|---|---|---|---|---|---|
| number | principal place |
of | ||||||
| business | ||||||||
| Events | at | Orwell | Park | 06170306 | Orwell Park School, | Dormant | 100% | |
| Limited | Nacton, Ipswich, |
Suffolk, | ||||||
| IP10OER. |
| Stocks | |||
|---|---|---|---|
| 2023 8 |
2022f | ||
| Stationery | supplies | 150 | |
| Food stocks | 700 | ||
| Oil stocks | 7,899 | 7,599 | |
| 7,999 | 8,449 |
| 2023 | 2022 | ||
|---|---|---|---|
| E | 5 | ||
| Due within one year | |||
| Trade debtors | 3,812 | 70,364 | |
| Other debtors | 62,869 | 140,251 | |
| Prepayments | and accrued income | 130,915 | 99,339 |
| 197,586 | 309,954 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| E | E | |||
| Bank overdrafts | 353,517 | 160,361 | ||
| Bank loans | 1,136,607 | 89,732 | ||
| Fees in advance | 530,887 | 343,812 | ||
| Trade creditors | 94,275 | 18,441 | ||
| Lump sum fees (see | below) | 21,743 | 17,931 | |
| Amounts owed to subsidiary |
undertakings | 100 | 100 | |
| Other taxation and social security | 57,819 | 178,583 | ||
| Final term deposts | 4,000 | 23,000 | ||
| Other creditors | 77,970 | 62,396 | ||
| Accruals and deferred | income | 71,408 | 122882 | |
| 2,348,326 | 1,017,038 |
| 2023f | 2022 | |||||
|---|---|---|---|---|---|---|
| Balance | at 1 September | 17,931 | 101,937 | |||
| Amount | of lump | sum fees | received | in the year | 122,247 | |
| Amount | utilised | in payment | ofschool fees to the school | (115,435) | (84,006) | |
| Balance | at 31August | 21,743 | 17,931 | |||
| 2023 | 2022 | |||||
| 8 | ||||||
| Ofwhich: | ||||||
| Payable | within | 1 year | 21,743 | 17,931 | ||
| Payable | after 1 | year | 25,309 | |||
| 47,052 | 17,931 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| F | ||||
| Bank | loans | 1,076,786 | ||
| Lump | sum fees | 25,309 | ||
| Other | taxation | and social security | 24,233 | |
| Final | term deposits | 176,314 | 69,000 | |
| 201,523 | 1,170,019 |
| Statement | offun | ds - prior year | |||||
|---|---|---|---|---|---|---|---|
| Balance at | Balance at | ||||||
| 1September | Transfers | Gainer | 31August | ||||
| 2021 | income | Expenditure | in/out | (Losses) | 2022 | ||
| L | 8 | 6 | |||||
| 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 | 4,442221 | 4, 5'I1, 845 | (4,648237) | 1,009,997 | 5,315,826 | ||
| Restricted | |||||||
| funds | |||||||
| Other | 3,668 | 3,668 | |||||
| Total pffunds | 4,445889 | 4511,845 | (4,648237) | 1,009,997 | 5,319,494 |
| Analysis | of net assets between funds -current year |
|||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2023 | 2023 | 2023 | ||
| 6 | E | 6 | ||
| Tangible | fixed assets | 7,140,502 | 7,140,502 | |
| Fixed asset inveslments | 100 | 100 | ||
| Current | assets | 202,694 | 3,668 | 206,362 |
| Creditors Creditors |
due within one year due in more than one year |
(1,271,540) (1,278,409) |
(1,271,540) ('l,278,409) |
|
| Total | 4,793,347 | 3,668 | 4,797,015 | |
| Analysis | ofnet assets between funds -prior year | |||
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| 6 | 9 | |||
| Tangible | fixed assets | 7,187,196 | 7,187,196 | |
| Fixed asset investments | 100 | 100 | ||
| Current assets Creditors due within one year Credilors due in more than one year |
315,587 (1,017,038) (1,170,019) |
3,668 | 319,255 (1,017,038) (1,170,019) |
|
| Total | 5,315,826 | 3,668 | 5,319,494 |
| 25. | Reconciliatfon | of | net | net | net | movement | movement | movement | movement | in funds | in funds | to net cash flow from | to net cash flow from | operating | activities | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022f | |||||||||||||||
| Net expenditure |
for | the | year | (as | per | Siaterneni | of Financial | |||||||||
| Activities) | (522rf79) | (136,392) | ||||||||||||||
| Adjustmen& for. |
||||||||||||||||
| Depreciation charges |
46,695 | 47,401 | ||||||||||||||
| Losses on investments | (753) | (308) | ||||||||||||||
| Decrease/(increase) | in stocks | 450 | (1,100) | |||||||||||||
| Decrease/(increase) | in debtors | 112,367 | (99,944) | |||||||||||||
| Increase/(decrease) | in | creditors | 199,647 | (189,680) | ||||||||||||
| Interest paid | 55,944 | 39,812 | ||||||||||||||
| Net cash used | in | operating | activities | (108,129) | (340,211) | |||||||||||
| 26. | Analysis ofcash and | cash | equivalents | |||||||||||||
| 2023 | 2022 | |||||||||||||||
| Cash in hand | TTT | 852 | ||||||||||||||
| Bank overdrait | (353,517) | (160,361) | ||||||||||||||
| Total cash and | cash | equivalents | (352,740) | (159,509) | ||||||||||||
| 27. | Analysis ofchanges | in net debt | ||||||||||||||
| At 1 | ||||||||||||||||
| September | At 31 | |||||||||||||||
| 2022 | Cash flows | August 2023 | ||||||||||||||
| F | ||||||||||||||||
| Cash at bank and in | hand | 852 | (75) | 777 | ||||||||||||
| Bank overdraRs | repayable | on | demand | (160,361) | (193,156) | (353,517) | ||||||||||
| Debt due within | 1 year | (107,663) | 26,099 | (8'},564) | ||||||||||||
| Debt due after 1 | year | (1,076786) | (1,076,786) | |||||||||||||
| (1,343,958) | (167;I32) | (1,511,090) |