2021-07-31-accounts - Pipers Corner School

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		Page
Strategic Report	1	to	2
Report ofthe Trustees	3	to	8
Report ofthe Independent Auditors	9	to	12
Statement of Financial Activities		13
Balance Sheet		14
Cash Flow Statement		15
Notes to the Cash Flow Statement		16
Notes to the Financial Statements	17	to	29
Detailed Statement of Financial Activities	30	to	31

			31.7.21	31.7.20
			Unrestricted	Total
			funds	funds
		Notes		F
INCOME AND ENDOWMENTS	FROM
Donations and legacies			1,234
Charitable activities
Fees and registrations			11,364,290	10,352,984
Other trading activities			73,474	144,392
Investment income			2,012	3,339
Total			11,441,010	10,500,715
EXPENDITURE ON
Charitable activities
Staff costs			7,081,631	6,595,198
Administration and maintenance	costs		2,223,842	1,829,005
Depreciation			706,582	725,692
Fees and registrations			1,070,804	1,022,541
Total			11,082,859	10,172,436
NET INCOME			358,151	328,279
RECONCILIATION OF FUNDS
Total funds brought forward			13,177,124	12,848,845
TOTAL FUNDS CARRIED FORWARD			13,535,275	13,177,124

		31.7.21	31.7.20
		Total	Total
	Notes	funds f	funds
FIXEDASSETS
Tangible assets	14	14,312,379	14,826,799
CURRENT ASSETS
Stocks	15	32,330	33,725
Debtors	16	3,682,313	3,318,777
Cash at bank		2,853,067	2,249,717
		6,567,710	5,602,219
CREDITORS
Amounts falling due within one year	17	(5,335,332)	(5,034,154)
NET CURRENT ASSETS		1,232,378	568,065
TOTAL ASSETS LESSCURRENT
LIABILITIES		15,544,757	15,394,864
CREDITORS
Amounts falling due after more than one year 18		(2,009,482)	(2,217,740)
NET ASSETS		13,535,275	13,177,124
FUNDS	21
Unrestricted funds		13,535,275	13,177,124
TOTAL FUNDS		13,535,275	13,177,124

		31.7.21	31.7.20
	Notes
Cash flows from operating activities Cash generated from operations Interest paid		1,003,294 ~37,832)	802,457 ~49,813)
Net cash provided	by operating activities	965,462	752,644
Cash flows from investing activities Purchase oftangible fixed assets Interest received		(192,161) 2,012	(431,744) 3,339
Net cash used in	investing activities	~190,149)	~428,405)
Cash flows from Loan repayments	financing activities in year	~171,963)	~161,441)
Net cash used in	financing activities	~171,963)	~161,441)
Change in cash in the reporting	and cash equivalents period	603,350	162,798
Cash and cash equivalents at the beginning ofthe reporting period		2,249,717	2,086,919
Cash and cash equivalents at the end ofthe reporting period		2,853,067	2,249,717

	RECONCILIATION	RECONCILIATION	OF	NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES	NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES	NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES	NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES	NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES	NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
								31.7.21	31.7.20
									E
	Net income	for the	reporting			period (as per the	Statement of
	Financial Activities)							358,151	328,279
	Adjustments	for:
	Depreciation	charges						706,581	725,692
	Interest received							(2,012)	(3,339)
	Interest paid Decrease in	stocks						37,832 1,395	49,813 4,987
	Increase in debtors Increase/(decrease)		in creditors					(363,536) 264,883	(166,711) ~136,264)
	Net cash provided		by	operations				1,003,294	802,457
2.	ANALYSIS OF CHANGES				IN	NET FUNDS
							At 1.8.20	Cash flow	At 31.7.21
	Net cash
	Gash at bank						2,249,717	603,350	2,853,067
							2,249,717	603,350	2,853,067
	Debt
	Debts falling	due within		1 year			(165,690)	(3,514)	(169,204)
	Debts falling	due after 1 year					~1,865,517)	175,477	~1,690,040)
							~2,031,207)	171,963	~1,859,244)
	Total						218,510	775,313	993,823

3.	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES	31.7.21	31.7.20
			F
	Donations		1,234
4.	OTHER TRADING ACTIVITIES		31.7.21	31.7.20
	Rent received Sundries received Furlough grant		33,287 13,657 26,530	58,775 4,979 80,638
			73,474	144,392
5.	INVESTMENT INCOME		31.7.21	31.7.20
				E
	Interest received		2,012	3,339
6.	INCOME FROM CHARITABLE ACTIVITIES		31.7.21	31.7.20
			Fees and	Total
			registrations
			activities
			F	E
	School fees Bursaries, scholarships Discounts	and allowances	10,912,536 (812,443) 220,139	9,856,978 (702,391) 200,935
	Registrations received Disbursements income		42,000 354,555	30,250 585,334
	Designated income Transport income		9,807 637,696	56,142 325,736
			11,364,290	10,352,984

					Support
				Direct	costs (see
				Costs	note 8)	Totals
				E
Staff costs					7,081,631	7,081,631
Administration	and maintenance
costs				12,223	2,211,619	2,223,842
Depreciation					706,582	706,582
Fees and registrations				1,052,471	18,333	1,070,804
				1,064,694	10,018,165	11,082,859
SUPPORT COSTS
				Teachers	Welfare
		Management		and	and
		and		teaching	support
		administration	Finance	assistants	costs	Totals
				E	F	E
Staff costs		1,269,409		5,167,191	645,031	7,081,631
Administration	and
maintenance	costs	608,176	37,832	268,821	1,296,790	2,211,619
Depreciation		4,539		40,845	661,198	706,582
Fees and registrations		13,701			4,632	16333
		1,895,825	37,832	5,476,857	2,607,651	10,018,165

NET INC	OME/(EXPEN	DITURE)
			2021	2020
			F
Depreciation -owned		assets	706,581	755,060
Deficit on	disposal of	fixed assets		9,242
Auditors'	remuneration	- audit	21,600	26,750
Auditors'	remuneration	-other services		5,161
Operating	lease payments -other		12,834	9,878

Trustees expenses paid for the year ended 31 STAFF COSTS	July 2021 totalled anil (2020 -f901).
	31.7.21	31.7.20
		E
Wages and salaries	5,448,078	5,081,233
Social security costs	516,613	465,005
Other pension costs	883,147	843,836
	6,847,838	6,380,074

The average	monthly number ofemployees during the	year was as follows:
		31.7.21	31.7.20
Teachers and	teaching assistants	119	112
Management	and administration	32	29
Welfare and support		16	14
Subcontracted	catering staff	8	8
		175	163

The number ofemployees	The number ofemployees	whose emoluments	whose emoluments	exceeded 660,000were:-
					2021	2020
860,001 - 870,000					2	2
F70,001 -F80,000					3	3
F80,001 - F90,000 f90,001 - F100,000					0 1	0 0
F100,001-f120,000					0	1
f120,001-2130,000					0	0
F130,001-2140,000					0	0
8140,001-2150,000 f150,001-6160,000					0 0	1 0
E160,001-f170,000					1	0
Value ofcompany pension		contributions	to money purchase
schemes for employees	whose emoluments			exceed 260,000.	8136433	812033D
Transactions with key	management		personnel
					2021	2020
Total compensation ofkey		management	personnel		884,236	806,271

TANGIBLE FIXEDASSETS
	Freehold		Sundry
	property		buildings
	and major		and
	refurbishment	Farm land	equipment
	E		P
COST
At 1 August 2020	20,174,668	591,177	664,283
Additions Disposals	126,805 ~31,611)		~57,470)
At 31 July 2021	20,269,862	591,177	606,813
DEPRECIATION
At 1 August 2020	6,102,556		652,938
Charge for year Eliminated on disposal	638,205 ~31,611)		2,835 ~57,470)
At 31 July 2021	6,709,150		598,303
NET BOOK VALUE
At 31 July 2021	13,560,712	591,177	8,51D
At 31 July 2020	14,072,112	591,177	11,345
	School	Grounds
	equipment	equipment	Totals
	F
COST
At 1 August 2020	1,421,543	156,858	23,008,529
Additions Disposals	28,963 ~986,555)	36,393 ~89774)	192,161 ~1,165,410)
At 31 July 2021	463,951	103,477	22,035,280
DEPRECIATION
At 1 August 2020	1,319,855	106,381	8,181,730
Charge for year Eliminated on disposal	45,383 ~986,555)	20,158 ~89.774)	706,581 ~1,165,410)
At 31 July 2021	378683	36,765	7,722,901
NET BOOK VALUE
At 31 July 2021	85,268	66,712	14,312,379
At 31 July 2020	101,688	50,477	14,826,799

15.	STOCKS
							31.7.21	31.7.20
							E	E
	Household and	cleaning		stock			32,330	33,725
16.	DEBTORS:AMOUNTS			FALLING DUE WITHIN ONE YEAR
							31.7.21 E	31.7.20 f
	Trade debtors						3,503,123	3,154,746
	Other debtors						3,228	14,395
	Prepayments and accrued				income		175,962	149,636
							3,682,313	3,318,777
17.	CREDITORS:	AMOUNTS			FALLING DUE WITHIN ONE YEAR
							31.7.21	31.7.20
							P	E
	Bank loans and overdrafts				(see note 19)		169,204	165,690
	Trade creditors						43,442	109,854
	Other creditors						18,461	19,572
	Social security	and other		taxes			221,380	230,913
	Pupils' deposits	held					314,500	306,750
	Accruals and deferred		income				4,462,951	4,023,162
	Fees received	in advance					105,394	178,213
							5,335,332	5,034,154
18.	CREDITORS:	AMOUNTS			FALLING DUE AFTER MORE THAN ONE YEAR
							31.7.21	31.7.20
							F
	Bank loans (see note		19)				1,690,040	1,865,517
	Accruals and deferred		income				319,442	352,223
							2,009,482	2,217,740
19.	LOANS
	An analysis ofthe maturity				of	loans is given below:
							31.7.21	31.7.20
							E
	Amounts falling	due within			one year on demand:
	Bank loans						169,204	165,690
	Amounts falling	between		one		and two years:
	Bank loans						172,791	169,204
	Amounts falling	due between				two and five years:
	Bank loans						1 517,249	514,281

Minimum lease payments under non-cancellable ope	rating leases fall due as follows:
	31.7.21	31.7.20
	E	E
Within one year	7,501	8,107
Between one and five years	20,252	2,160
	27,753	10,267

MOVEM	ENT	IN FUNDS
				Net	Transfers
				movement	between	At
			At 1.8.20	in funds	funds	31.7.21
				E	E	F
Unrestricted		funds
General	fund - general reserves		(1,861,455)	1,425,086	(542,465)	(978,834)
General	fund - fixed assets		14,826,799	(706,581)	192,161	14,312,379
Designated		funds	25,000	(260)	260	25,000
Bursary endowment PTA fund			150,548 36,232	(358,667) ~1,427)	350,044	141,925 34,805
			13,177,124	358,151		13,535,275
TOTAL FUNDS			13,177,124	358 151		13,535,275

Net movement in funds, included in the abov	e are as follows:
	incoming	Resources	Movement
	resources	expended	in funds
			F
Unrestricted funds
General fund - general reserves	11,789,141	(10,364,055)	1,425,086
General fund - fixed assets		(706,581)	(706,581)
Designated funds	5,279	(5,539)	(260)
Bursary endowment PTA fund	(357,938) 4,528	(729) ~5,955)	(358,667) ~1,427)
	11,441,010	~11,082,859)	358,151
TOTAL FUNDS	11,441,010	~11,082,859)	358,151

Compara	tive	s for movement in fun	ds
				Net	Transfers
				movement	between	At
			At 1.8.19	in funds	funds	31.7.20
			F		F	F
Unrestricted		funds
General	fund - general reserves		(2,507,046)	1,340,351	(694,760)	(1,861,455)
General	fund - fixed assets		15,120,747	(725,692)	431,744	14,826,799
Designated		funds	25,000	12,739	(12,739)	25,000
Bursary endowment			176,830	(302,037)	275,755	150,548
PTA fund			33,314	2,918		36,232
			12,848,845	328,279		13,177,124
TOTAL FUNDS			12,848,845	328,279		13,177,124

Comparative	net movement in funds, included	in the above are as follow	s:
		Incoming	Resources	Movement
		resources	expended	in funds
		E	E	P
Unrestricted	funds
General fund	- general reserves	10,746,610	(9,406,259)	1,340,351
General fund	—fixed assets		(725,692)	(725,692)
Designated funds		20,547	(7,808)	12,739
Bursary endowment PTA fund		(302,037) 35,595	~32677)	(302,037) 2,918
		1D,5D0,715	)10,172,436)	328,279
TOTAL FUNDS		10,50D,715	~10,172,436)	328,279

School wa	s f1,733,714(Th	e estimated employer debt at 30Septe	mber 2019was E1,89	4,034).
CAPITAL	COMMITMENTS
			31.7.21	31.7.20
			E	F
Contracted	but not provided	for in the financial statements	165,923	21,082
RELATED	PARTY DISCLOSURES

			31.7.21	31.7.20
				F
INCOME AND ENDOWMENTS
Donations and legacies
Donations			1,234
Other trading activities
Rent received			33,287	58,775
Sundries received			13,657	4,979
Furlough grant			26,530	80,638
			73,474	144,392
Investment income
Interest received			2,012	3,339
Charitable activities
School fees			10,912,536	9,856,978
Bursaries, scholarships	and allowances		(812,443)	(702,391)
Discounts			220,139	200,935
Registrations received			42,000	30,250
Disbursements income			354,555	585,334
Designated income			9,807	56,142
Transport income			637,696	325,736
			11,364 290	10,352,964
Total incoming resources			11,441,010	10,500,715
EXPENDITURE
Charitable activities
Disbursement expenditure			345,864	573,388
Designated expenditure			12,223	40,485
Transport expenditure			706,607	408,668
			1,064,694	1,022,541
Support costs
Management and administration
Management and administration		staff	1,085,194	934,823
Social security			107,542	92,910
Pensions			74,673	99,805
Administration expenses			119,830	184,087
Bad debts			(5,295)	43,142
Professional expenses			137,633	112,952
Bank charges and interest			6,186	8,180
Postage and telephone			24,374	20,644
Carried forward			1,550,137	1,496,543

						31.7.21	31.7.20
Nlanagement		and administration
Brought forward						1,550,137	1,496,543
Marketing and		promotion				121,011	69,226
Discounts						220,139	200,935
Depreciation	oftangible			fixed	assets	4,538	3,699
						1,895,825	1,770,403
Finance
Loan interest		paid				37,832	49,813
Teachers and		teaching		assistants
Teachers and		teaching assistants				3,762,899	3,593,927
Social security						380,188	344,131
Pensions						792,311	726,847
Educational	supplies		- staff			231,794	205,124
Educational	supplies		- admin			268,820	234,359
Depreciation	oftangible			fixed assets		40,845	33,288
						5,476,857	5,137,676
Welfare and	support		costs
Welfare and	support		staff (including
subcontracted		catering staff)				599,985	552,483
Social security						28,883	27,964
Pensions						16,163	17,184
Services						314,816	319,246
Maintenance						310,454	144,455
Household expenses			- cleaning			308,859	176,253
Household expenses			—catering			222,817	199,077
Grounds						120,141	40,566
Furniture and		furnishings				24,335	26,070
Depreciation	oftangible			fixed assets		661,198	688,705
						2,607,651	2,192,003
Total resources		expended				11,082,859	10,172,436
Net income						358,151	328,279