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||||||Page|
|---|---|---|---|---|---|
|Reference and Administrative||Details ofthe Company,|its Governors|and Advisers||
|Governors'
Report|||||2-9|
|Independent
Auditors'|Report|on the Financial Statements|||10-13|
|Statement of Financial|Activities||||14|
|Balance Sheet|||||15|
|Statement ofCash Flows|||||16|
|Notes to the Financial|Statements||||17-37|
##
##
|Governors|||Mr A R McGregor,|Chairman|Chairman|||
|---|---|---|---|---|---|---|---|
||||Ms P C Calnan|||||
||||Mr A W G Dixon-Smith|||||
||||Ms C A Ewart|||||
||||Mr S Keoghane
(appointed|||22 November|2020)|
||||Ms SJ Kerr-Dineen|(resigned 15February|||2021)|
||||Mr DJ M Liddell|||||
||||Ms L H Martin (resigned||19|July 2021)||
||||Mr CJ Minter|||||
||||Mr N Page|||||
||||Mr J Quick|||||
|Company|registered|||||||
|number|||00910421|||||
|Charity registered||||||||
|number|||310490|||||
|Registered||office|Brettenham
Park|||||
||||Ipswich|||||
||||Suffolk|||||
||||IP7 7PH|||||
|Senior management|||Mr D Griffiths,
Headmaster|||||
|team|||Mr D Mitchell, Senior Deputy Head|||||
||||Mr C Bunting,
Deputy Head|||Academic||
||||Mr N Drake, Deputy|Head Co-Curricular||||
||||Mr F Auld, Director|ofStudies||||
||||Mrs E Easdale, Head of Boarding|||||
||||Mrs G Gillott, Head|of Learning Success||||
||||Mrs L Deville, Director of||Finance and Operations|||
||||Mrs C Webster,
Head of||Pre-Prep|||
|Independent||auditors|Larking Gowen LLP|||||
||||Chartered
Accountants|||||
||||1 Claydon
Business|Park||||
||||Great Blakenham|||||
||||Ipswich, IP6 ONL|||||
|Bankers|||Barclays Bank|||||
||||Corporate
Banking|||||
||||PO Box13699|||||
||||Birmingham,
B22FS|||||
|Solicitors|||Knights
pic|||||
||||Midland
House|||||
||||West Way|||||
||||Botley|||||
||||Oxford, OX2 OPH|||||
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|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
||||Note|2021f|2021f|2021f|2020|
|Income from:||||||||
|Donations
and legacies|||3|3|3,075|3,078|10,294|
|Charitable
activities|||4|3,002,078||3,002,078|2,947,694|
|Profit on disposal offreehold||property|5||||673,188|
|Total income||||3,002,081|3,075|3,005,156|3,631,176|
|Expenditure
on:||||||||
|Charitable
activities|||6|3,414,524||3,414,524|3,396,934|
|Total expenditure||||3,414,524||3,414,524|3,396,934|
|Transfers
between|funds||15|8,794|(8,794)|||
|Net movement
in|funds|||(403,649)|(5,719)|(409,368)|234,242|
|Reconciliation
of|funds:|||||||
|Total funds brought|forward|||2,538,445|26,344|2,564,789|2,330,547|
|Net movement
in funds||||(403,649)|(5,719)|(409,368)|234,242|
|Total funds carried forward||||2,134,796|20,625|2,155,421|2,564,789|
||||Note||2021f||2020|
|---|---|---|---|---|---|---|---|
|Fixed assets||||||||
|Tangible assets|||10||4,207,887||4,269,223|
|Current assets||||||||
|Stocks|||11|20,914||20,820||
|Debtors|||12|809,244||648,362||
|Cash at bank and|in hand|||75,873||401,092||
|||||906,031||1,070,274||
|Creditors: amounts|falling|due within one||||||
|year|||13|(1,635,905)||(1,357,368)||
|Net current
liabilities|||||(729,874)||(287,094)|
|Total assets less|current|liabilities|||3,478,013||3,982,129|
|Creditors: amounts|falling|due after more||||||
|than one year|||14||(1,322,592)||(1,417,340)|
|Total net assets|||||2,155,421||2,564,789|
|Charity funds||||||||
|Restricted
funds|||15||20,625||26,344|
|Unrestricted
funds|||15||2,134,796||2,538,445|
|Total funds
ICOSI|||||2,155,421||2,564,789|
##
|||||STATEMENT OF|STATEMENT OF|CASH FLOWS||||
|---|---|---|---|---|---|---|---|---|---|
||||FOR|THE YEAR ENDED 31AUGUST|||2021|||
|||||||||2021|2020|
||||||||Note|||
|Cash flows from operating||activities||||||||
|Net cash used
in operating|activities||||||17|(64,842)|(293,395)|
|Cash flows from investing||activities||||||||
|Proceeds from the sale oftangible|||fixed assets|||||3,225|707,866|
|Purchase oftangible
fixed assets||||||||(142,133)|(473,870)|
|Net cash (used in)/provided||by|investing||activities|||(138,908)|233,996|
|Cash flows from financing||activities||||||||
|Cash inflows from new borrowing|||||||||1,200,000|
|Repayments
of borrowing||||||||(42,581)|(834,190)|
|Repayment
offinance leases||||||||(37,310)|(47,710)|
|Interest paid||||||||(41,578)|(27,691)|
|Net cash (used in)/provided||by|financing||activities|||(121,469)|290,409|
|Change
in cash and cash|equivalents|||in the year||||(325,219)|231,010|
|Cash and cash equivalents|at the||beginning||ofthe year|||401,092|170,082|
|Cash and cash equivalents||at the end of|||the year|||75,873|401,092|
|The notes on pages 17to 37||form|part|ofthese financial||statements||||
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|eir estima|ted
useful
lives o|n the following bases:||||||
|---|---|---|---|---|---|---|---|
|Freehold|property|School
Buildings
and|facilities||of|specific||
|||nature - 4% straight
line||||||
|||General
School
Buildings||- 2%|straight||line|
|||basis down to a residual|value|||||
|Motor vehicles||25% reducing
balance||||||
|Fixtures and fittings||10%-20%straight
line||||||
|Computer|equipment|25% straight
line||||||
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||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds|funds|
||2021|2021|2021|
|Donations||3,075|3,078|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||2020|2020|2020|
|Donations|1,500|8,794|10,294|
##
|||||Unrestricted|Total|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2021|2021|
|Gross Fees||||3,199,491|3,199,491|
|Less: Bursaries||and other|allowances|(424,478)|(424,478)|
|Other incoming||resources||148,804|148,804|
|Coronavirus|Job Retention||Scheme grant|78,261|78,261|
|Total 2021||||3,002,078|3,002,078|
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|||||Unrestri cted|Total|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2020|2020|
|Gross Fees||||3,053,231|3,053,231|
|Less: Bursaries||and other|allowances|(392,419)|(392,419)|
|Other incoming||resources||129,453|129,453|
|Coronavirus|Job Retention||Scheme grant|157,429|157,429|
|Total 2020||||2,947,694|2,947,694|
##
|||||||Total|
|---|---|---|---|---|---|---|
|||||||funds|
|||||||2021f|
|Profit|on|disposal|offreehold|property|||
||||||Unrestricted|Total|
||||||funds|funds|
||||||2020|2020|
|Profit|on|disposal|offreehold|property|673,188|673,188|
##
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|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2021|2021|
|Teaching||1,837,137|1,837,137|
|Household||483,190|483,190|
|Property||665,960|665,960|
|Support 8|Administration|377,983|377,983|
|Financing|costs|50,254|50,254|
|||3,414,524|3,414,524|
|||Unrestricted|Total|
|||funds|funds|
|||2020|2020|
|Teaching||1,817,631|1,817,631|
|Household||505,549|505,549|
|Property||619,540|619,540|
|Support 8|Administration|411,209|411,209|
|Financing|costs|43,005|43,005|
|||3,396,934|3,396,934|
##
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||||||Total|
|---|---|---|---|---|---|
|||Staff costs|Depreciation|Other costs|funds|
|||2021|2021|2021|2021|
|Teaching||1,548,760|20,839|267,538|1,837,137|
|Household||339,292|21,867|122,031|483,190|
|Property||182,064|125,148|358,748|665,960|
|Support 8|Administration|265,398|39,044|73,541|377,983|
|Financing|costs|||50,254|50,254|
|||2,335,514|206,898|872,112|3,414,524|
||||||Total|
|||Staffcosts|Depreciation|Other costs|funds|
|||2020|2020|2020|2020|
|Teaching||1,520,893|22,191|274,547|1,817,631|
|Household||349,048|20,981|135,520|505,549|
|Property||169,484|109,608|340,448|619,540|
|Support 8|Administration|260,212|42,059|108,938|411,209|
|Financing|costs|||43,005|43,005|
|||2,299,637|194,839|902,458|3,396,934|
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||||Support and|||
|---|---|---|---|---|---|
||||Administration|Financing|Total|
||||cost|costs|funds|
|Administrative|overheads||29,311||29,311|
|Audit and professional||fees|44,230||44,230|
|Bank charges|and interest|||50,254|50,254|
|Wages and salaries|||231,172||231,172|
|National
insurance|||21,907||21,907|
|Pension cost|||12,319||12,319|
|Depreciation|||39,044||39,044|
|Total 2021|||377,983|50,254|428,237|
||||Supportand|||
|---|---|---|---|---|---|
||||Administration|Financing|Total|
||||cost|costs|funds|
|Administrative|overheads||76,392||76,392|
|Audit and professional||fees|32,546||32,546|
|Bank charges|and interest|||43,005|43,005|
|Wages and salaries|||227,730||227,730|
|National
insurance|||21,800||21,800|
|Pension cost|||10,682||10,682|
|Depreciation|||42,059||42,059|
|Total 2020|||411,209|43,005|454,214|
##
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||||2021|2020|
|---|---|---|---|---|
|Depreciation
oftangible||fixed asset|||
|-owned|by the charity||174,389|1M,525|
|- hire purchase|||32,509|38,946|
|Auditor's|remuneration||12,370|12,720|
|Auditor's|remuneration|-other services|2,943|3,448|
|Operating|lease rentals||46,083|45,068|
##
|Staff costs||||||
|---|---|---|---|---|---|
|||||2021|2020|
|Wages and|salaries|||1,883,624|1,8M,958|
|Social security costs||||166,076|164,519|
|Contribution|to defined|contribution|pension schemes|285,814|279,160|
|||||2,335,514|2,299,637|
|Casual staff||||54,668|88,262|
|||||2,390,182|2,387,899|
##
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||2021|2020|
|---|---|---|
||No.|No.|
|Teaching Staff|41|33|
|Other Staff|42|54|
||83|87|
|2021|2020|
|---|---|
|No.|No.|
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||Freehold|Motor|Fixtures and|Computer||
|---|---|---|---|---|---|
||property|vehicles|fittings|equipment|Total|
|Cost or valuation||||||
|At 1 September 2020|5,091,551|120,188|1,024,369|278,746|6,514,854|
|Additions|69,727|3,464|58,962|14,090|146,243|
|Disposals||(25,862)|(715)||(26,577)|
|At 31 August 2021|5,161,278|97,790|1,082,616|292,836|6,634,520|
|Depreciation||||||
|At 1 September 2020|1,300,861|67,063|682,419|195,288|2,245,631|
|Charge for the year|98,423|14,415|67,612|26,448|206,898|
|On disposals||(25,862)|(34)||(25,896)|
|At 31 August 2021|1,399,284|55,616|749,997|221,736|2,426,633|
|Net book value||||||
|At 31 August 2021|3,761,994|42,174|332,619|71,100|4,207,887|
|At 31August 2020|3,790,690|53,125|341,950|83,458|4,269,223|
||2021f|2020|
|---|---|---|
|Computer
equipment|36,127|48,172|
|Fixtures and fittings|57,898|63,375|
|Motor vehicles|17,382|50,470|
||111,407|162,017|
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|||||2021|2020|
|---|---|---|---|---|---|
|Food, teaching||and housekeeping|supplies|14,825|9,960|
|Heating|Oil|||6,089|10,860|
|||||20,914|20,820|
##
|||2021f|2020|
|---|---|---|---|
|Due within one year||||
|Fees outstanding||724,107|536,841|
|Other debtors||28,658|48,015|
|Prepayments|and accrued income|56,479|63,506|
|||809,244|648,362|
##
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||||2021|2020|
|---|---|---|---|---|
|Bank loans and overdrafts|||43,023|41,548|
|Payments
received on|account||7,600|3,100|
|Trade creditors|||94,435|172,678|
|Other taxation and social security|||41,442|37,662|
|Obligations
under finance lease and hire purchase||contracts|37,190|36,487|
|Fees in advance|||101,033|103,516|
|Other creditors|||42,870|35,836|
|Accruals and deferred|income||1,268,312|926,541|
||||1,635,905|1,357,368|
##
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|||||2021|2020|
|---|---|---|---|---|---|
|Bank loans||||1,107,521|1,151,577|
|Payments
received on account||||34,000|29,100|
|Net obligations|under finance lease and|hire purchase|contracts|57,709|91,612|
|Fees in advance||||123,362|145,051|
|||||1,322,592|1,417,340|
|Included
within the above are amounts||falling due as|follows:|||
|||||2021f|2020|
|Between one and two years||||||
|Bank loans||||44,550|43,023|
|Between two and five years||||||
|Bank loans||||1,062,971|1,108,554|
|Obligation|s
u|nder|fina|nce leases and hire purchase
con|tracts,
included
above, are payable as|follows:|
|---|---|---|---|---|---|---|
||||||2021|2020|
|Between|one|and|five|years|57,709|91,612|
||||||57,709|91,612|
##
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|Statemen|t|offun|ds
-curren|t year|||||
|---|---|---|---|---|---|---|---|---|
|||||Balance at 1||||Balance at|
|||||September|||Transfers|31August|
|||||2020|Income|Expenditure|in/out|2021|
|Unrestricted||funds|||||||
|General|Funds|||2,538,445|3,002,081|(3,414,524)|8,794|2,134,796|
|Restricted||funds|||||||
|Sports Hall||Fund||17,550||||17,550|
|Capital Donations|||Fund|8,794|||(8,794)||
|Thatched|Pavillion||Fund||3,075|||3,075|
|||||26,344|3,075||(8,794)|20,625|
|Total of|funds|||2,564,789|3,005,156|(3,414,524)||2,155,421|
##
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|Statement offunds|Statement offunds|(continued)|||||
|---|---|---|---|---|---|---|
|Statement offunds||- prior year|||||
||||Balance at|||Balance at|
||||1 September|||31August|
||||2019|Income|Expenditure|2020|
|Unrestricted
funds|||||||
|General
Funds|||2,312,997|3,622,382|(3,396,934)|2,538,445|
|Restricted funds|||||||
|Sports Hall Fund|||17,550|||17,550|
|Capital Donations|Fund|||8,794||8,794|
||||17,550|8,794||26,344|
|Total offunds|||2,330,547|3,631,176|(3,396,934)|2,M4,789|
|Analysis|of n|et assets between funds - current|year|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||2021f|2021f|2021f|
|Tangible|fixed|assets|4,207,887||4,207,887|
|Current|assets||885,406|20,625|906,031|
|Creditors|due|within one year|(1,635,905)||(1,635,905)|
|Creditors|due|in more than one year|(1,322,592)||(1,322,592)|
|Total|||2,134,796|20,625|2,155,421|
##
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|16.|Analysis|ofnet assets|between|between|funds|(continued)|(continued)|(continued)|||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||Analysis|of net assets|between||funds|- prior year|||||||
||||||||||Unrestricted||Restricted|Total|
|||||||||||funds|funds|funds|
|||||||||||2020|2020|2020|
||Tangible|fixed assets|||||||4,269,223|||4,269,223|
||Current assets|||||||||1,070,274||1,070,274|
||Creditors|due within one year|||||||(1,357,368)|||(1,357,368)|
||Creditors|due
in more than one year|||||||(1,417,340)|||(1,417,340)|
||Total||||||||2,M4,789|||2,M4,789|
|17.|Reconciliation
of net movement||||in funds to||net|cash flow|from operating||activities||
||||||||||||2021f|2020|
||Net
income/expenditure||for|the|year|(as|per|Statement|of|Financial|||
||Activities)||||||||||(409,368)|234,242|
||Adjustments
for:||||||||||||
||Depreciation
charges||||||||||206,898|194,839|
||Profit on|the sale offixed assets|||||||||(2,544)|(673,788)|
||Increase|in stocks|||||||||(94)|(2,084)|
||Increase|in debtors|||||||||(160,882)|(479,694)|
||Increase|in creditors|||||||||283,742|539,350|
||(Decrease)
in fees in advance||||||||||(24,172)|(133,951)|
||Interest paid||||||||||41,578|27,691|
||Net cash|used
in operating||activities|||||||(64,842)|(293,395)|
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|cancell|ab|le
operating
leases as follows:|||
|---|---|---|---|---|
||||2021|2020|
|Within|1|year|43,491|36,606|
|Between||1 and 5Years|68,027|56,063|
||||111,518|92,669|
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