2021-08-31-accounts - Chesham Preparatory School Trust Limited

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Officers	and adviser	s
Directors	and Trustees		Mr A Kinnier (Chairman)
			Mrs C Almond
			Mr N Baker (resigned 5'" July	2021)
			Mr 8 Cartledge Mr A Grounds (appointed 1"January 2022)
			Dr A Haycock
			Mr P Hurd
			Mr AJordan (resigned 5"'July 2021)
			Mr D Killinger (resigned 5"'January 2021)
			Mr J Matthews
			Ms A McNaney
			Mrs F Nijkamp-Lyell (appointed 13"December 2021) Mrs J O'Gorman (appointed 1"January 2022)
			Mrs SPeck
			Mrs N Shepherd
			Mr D Strong (resigned 20'" December 2021)
			Mr M Walker
Company	Secretary &Bursar		Mrs C Hughes
Company	Number		910924
Charity Number			310642
Principal	and Registered	Office	Chesham Preparatory School	Trust Limited (known		as Chesham	Preparatory
			School),Two Dells Lane, Orchard		Leigh, Chesham,	Bucks, HPS 3QF
Headmaster			Mr J Beale
School Address			Two Dells Lane, Orchard Leigh
			Chesham, Bucks
			HPS 3QF
Bankers			National Westminster Bank pic
			Chilterns Corporate Business	Centre
			PO Box412, 2"' Floor, Rapid House
			Oxford Road, High Wycombe,	Bucks
			HP11 2EF
Solicitors			Veale Wasborough Vizards LLP
			Narrow Quay House, Narrow	Quay
			Bristol
			BS14QA
Insurance	Brokers		Marsh Limited
			Capital House, 1-5 Perrymount	Road
			Haywards Heath, RH16 3SY
Auditor			Moore Northern Home Counties		Limited
			First Floor, 73-75 High St
			Stevenage, Hertfordshire, SG13HR

tatement offinancial nded 31August 2021	activiti	es (incorporating	a	n income	and expenditure	account) for th
		Unrestricted	'	Restricted	Total Funds for	Total Funds for
		Funds		Funds	the Year ended	the Year ended
	Notes	2021 E		2021	31August 2021 f	31August 2020 E
Income
Donations and
legacies:
Donations Otherincome		2,187 123,940			2,187 123,940	1,000 199,219
Income from
charitable activities:
School fees receivable Other educational income		4,915,879 43,505			4,915,879 43,505	4,737,240 99,275
Other ancillary income		30,290			30,290	18,429
Total income		5,115,801			5,115,801	5,055,163
Expenditure
Expenditure on
charitable activities:
Educational costs Welfare costs		3,808,359 392,273			3,808,359 392,273	3,932,524 312,267
Premises costs		734,552			734,552	748,249
Financing cost		65,606			65,606	76,020
Governance costs		24,816			24,816	23,055
Total expenditure	5	5,025,606			5,025,606	5,092,115
Net income		90,195			90,195	(36,952)
Transfers between
funds
Net movement in funds		90,195			90,195	(36,952)
Accumulated funds brought forward		7,028,055		699	7,028,754	7,065,706
Accumulated funds carried forward				699	7,118,949	7,028,754

				2021		2020
		Notes		6		f
Fixed assets
Tangible assets				10,431,420		10,428,088
Current assets
Stock		9	13,522		6,783
Debtors		10	209,964		130,557
Cash at bank and in	hand		1,550,471		1,270,115
			1,773,957		1,407,455
Creditors: amounts	falling due	11	(1,467,778)		(1,034,985)
within one year
Net current (liabilities) / assets				306,179		372,470
Total assets less current				10,737,599		10,800,558
liabilities
Creditors: amounts	falling due	12		(3,618,650)		(3,771,804)
after more than one	year
Net assets				7,118,949		7,028,754
Accumulated funds
Restricted fund		Page	13ik note 15	699		699
Unrestricted funds:
General funds			Page 13	7,118,250		7,028,055
				7,118,949		7,028,754

					2021	2020
					f	f
Cash flows from operating activities
Net cash	provided by operating activities		(note (a))		711,487	350,726
Cash flows from investing activities
Purchase	of property, plant and equipment				(320,977)	(367,823)
Cash used in investing activities					390,510	(17,097)
Cash flows from financing activities
Repayments of borrowing					(110,154)	(40,690)
Borrowing from bank						312,453
Net cash	used in financing activities				280,356	271,763
Change in cash and cash equivalents		in the		year	280,356	254,666
Cash and	cash equivalents at the beginning			ofthe	1,270,115	1,015,449
reporting	period
Cash and	cash equivalents at the end	of	the		1,550,471	1,270,115
reporting	period
Notes to	the cash flow statement
(a)	Reconciliation ofoperating	surplus		to net	2021	2020
	cash flow from operating activities				f	f
	Net income for the reporting	period			90,195	(36,952)
	Adjustments for:
	Depreciation				313,845	323,366
	Loss on disposal offixed assets				3,801	247,820
	(Increase)/Decrease in stock				(6,739)	196
	(Increase)/Decrease in debtors				(79,407)	32,094
	Increase/(Decrease)in creditors				389'792	(215,798)
	Net cash provided by operating		activities		711,487	350,726

(b)	Reconciliation ofnet cash flow to movement	Reconciliation ofnet cash flow to movement	Reconciliation ofnet cash flow to movement	Reconciliation ofnet cash flow to movement		2021	2020
	in net debt/funds					6	f
	Increase/(Decrease)	in cash	in	the year		280,356	254,666
	Cash used to repay	loans				110,154	40,690
	Increase in Loans						(312,453)
	Change in net debt	resulting	from cash flow			390,510	(17,097)
	Net debt at 1September 2020					(2,367,874)	(2,350,777)
	Net debt at 31August 2021					(1,977,364)	(2,367,874)
(c)	Analysis ofchange	in net				Other non-
	debt			1September	Cash	cash	31August
				2020 f	flow f	changes f	2021 E
	Cash at bank and in	hand		1,270,115	280,356		1,550,471
	Debt due within one year			(40,000)	(86,140)		(126,140)
	Debt due after one	year		(3,597,989)	196,294		(3,401,695)
				(2,367,874)	390,510		(1,977,364)

income				Year ended	Year ended
				31August 2021	31August 2020
				f	f
Donations-	Unrestricted
Donations-	Restricted			2,187	1,000
				2,187	1,000
Other Income
Government	grants			45,597	164,778
Sundry				70,211	34,289
Loan interest				8,132	152
				123,940	199,219
Other educational			income
Registration	fees			13,900	12,300
School trips				12,539	66,163
Late club fees				17,066	20,812
				43,505	99,275
Other ancillary		income
School bus	fares			27,740	16,757
Rentalincome				2,550	1,672
Event income
				30,290	18,429
Total				199,922	317,923

						Year ended	Year ended	Year ended	Yearended
								31Aug	31Aug
								2021	2020
								f	f
Wages and salaries							2,696,128		2,537,908
Social Security		costs					261,153		245,150
Pension contributions							496,573		462,530
							3,453,854		3,245,588
						Year		ended	Year ended
								31Aug	31Aug
								2021	2020
							Number		Number
The average	monthly			head count was 93staff (2020-89 staff) and the
average monthly			number offull time equivalent		persons	employed	was:
Teaching								62	61
Premises								3	3
Administration		and Minibus drivers						12	11
								77	75
The number ofemployees				who earned more than f60,000on an annualised				basis was
								2021	2020
							Number		Number
f60,001to f70,000								1
f70,001tof80,000 f80,001tof90,000								1
f90,001to f100,000								1	1
Retirement benefits	are		accruing to the higher paid employees			under both		the defined	benefit scheme and money
purchase scheme.

							Year	Year
			Staff	Direct	Support	Deprec-	ended 31	ended 31
			Costs f	Costs 6	Costs f	iation f	Aug 2021 f	Aug 2020 6
Charitable
expenditure
Educational	costs		3,308,055	185,434	240,738	74,132	3,808,359	3,932,524
Welfare costs			17,000	372,523	2,750		392,273	312,267
Premises costs			119,799	331,040	44,000	239,713	734,552	748,249
Financing costs					65,606		65,606	76,020
Governance			9,000		15,816		24,816	23,055
			3,453,854	888,997	368,910	313,845	5,025,606	5,092,115
Financing costs
							2021	2020
							f	f
Interest payable		on bank loan					64,282	76,020
Bank charges							1,324
							65,606	76,020
Governance
							2021	2020
							f	6
Bursar's time							9,000	9,000
Audit fee							15,759	13,877
Trustees meeting			expenses				57	178
							24,816	23,055

							Freehold
							Land and	Furniture
				portakabins			Buildings	anti	Mower	Total
						E	f	Equipment		f
								E
Cost:
1September		2020		326,029			12,668,767	874,700	34,242	13,903,738
Additions							171,665	149,312		320,977
Disposals								(55,399)		(55,399)
31August 2021				326,029			12,840,432	968,613	34,242	14,169,316
Depreciation:
1September		2020		326,029			2,337,359	778,020	34,242	3,475,650
Charge for	the						239,713	74,132		313,845
year
Disposals								(51,599)		(51,599)
31August 2021				326,029			2,577,072	800,553	34,242	3,737,896
Net book value:
31August 2021							10,263,360	168,060		10,431,420
31August 2020							10,331,408	96,680		10,428,088
All tangible	fixed		assets are		held	for use by the Charity.
Assets included			in freehold		land	and buildings that are not depreciated			amount to f740,816	(2020-
E740,816).
Stock
									2021	2020
									E	f
Educational		supplies							13,522	6,783


10.	Debtors
			2021	2020
			f	f
Trade debtors			28,299	38,524
Other debtors			75,408	2,219
Prepayments			106,257	89,814
			209,964	130,557
11.	Creditors: amounts	falling due within one year	2021	2020
			E	f
	Bank loans (Note 13)		126,140	80,251
	Payrolltaxes		67,038	65,650
	Trade creditors		174,262	41,237
	Other creditors		94,718	86,623
	Accruals		58,516	99,035
	Deferred income (Note 14)		947,104	662,189
			1,467,778	1,034,985
12.	Creditors: amounts	falling due after more than one year	2021	2020
			f	6
	Bank loans (Notes	13)	3,401,695	3,557,738
	Pupil deposits		216,955	214,066
			3,618,650	3,771,804

ferre	d inco	me consists offees pai	d in advance, and includes fees	for the period after 31August 2	021.
13.	Bank	loans		2021	2020
				f	f
	The	bank loans —repayable	by instalments:
	Due	within one year		126,140	80,251
	Due	between two and five	years	378,420	504,562
	Due	more than five years		3,023,275	3,053,176
				3,527,835	3,637,989


Notes forming part ofthe financial statement		for the Year ended	31August 2021
(continued)
14.	Analysis ofmovements in deferred income
	Balance at 1September 2020:
	Due within one year		662,189
	Due after more than one year
			662,189
	Released in year		(662,189)
	Invoiced in year		947,104
	Balance at 31August 2021 all due within one year		947,104

			2021	2020
			f	6
Not later	than 1year		81,824	79,695
Laterthan	1year and notlaterthan	5years	100,346	126,156
Total			182,170	205,851

					Year from 1Sept	Year from 1Sept
					2020to 31Aug 2021	2019to 31Aug
						2020
Income
Tuition fees					4,915,879	4,737,239
School bus fares					27,740	16,757
Registration	fees				13,900	12,300
School trips					12,539	66,163
Sundry					143,556	221,704
Donations-	restricted				2,187	1,000
Donations
Total					5,115,801	5,055,163
Expenditure
Staffcosts
Staff salaries	and	wages:
Teaching	(including		Headmaster)		2,233,369	2,106,649
Supply					10,524	2,305
Catering
Administration					360,429	341,324
Maintenance					91,806	87,630
					2,696,128	2,537,908
National insurance					261,153	245,150
Pension contributions			(IAPS and TPS)		496,573	462,530
Total					3,453,854	3,245,588
Operating expenses
School trips					12,376	67,036
Stationery and materials				(inc. text books)	164,595	168,816
School prizes and		trophies			2,048	1,215
Swimming (including			transport)		49,822	39,637
Minibus					57,250	55,463
Staff training	course				18,440	11,568
Food etc.for lunches					303,109	210,454
School bus hire					149	36,007
Other (including		recruitment)			20,224	16,445
Total					628,013	606,641


Detailed Income and	expenditure			account for	the Year ended 31August 2020 (continued)
					Year from 1	Year 1Sept
					Sept 2020to	2019to 31Aug
					31Aug 2021	2020
					f	E
Establishment expenses
Cleaning contractor and materials					91,108	87,198
Light and heat					68,337	72,701
Rates including water					50,001	25,112
Insurance					30,275	28,488
Repairs and maintenance	—premises				91,335	138,148
Depreciation —premises					223,364	221,755
Depreciation- L/Fi Flat					2,473	2,468
Depreciation —porta ka bins
Repairs and maintenance	—equipment				9,238	2,993
Depreciation Building Improvements					13,876	13,784
Depreciation —equipment					74,132	85,359
Loss on disposal offixed assets					3,801	247,820
Total					657,940	925,826
Administration and promotional			expenses
Marketing and Advertising					19,197	31,080
Post age and telephone					17,799	14,752
Printing, stationery and computer			supplies		78,200	125,286
Audit and accountancy					15,759	13,877
Legal and professional					64,388	19,068
Subscriptions					8,117	8,663
Sundry (including recruitment)					10,749	13,958
Marquee and parents' meetings					5,458	6,982
Bad debts						1
Assisted places and discounted		fees paid in		advance	526	4,373
Total					220,193	238,040
Total expenses (excluding	finance		charges)		4,960,000	5,016,095
Surplus before finance charges					155,801	39,068
Finance					(65,606)	(76,020)
Surplus/(Loss) after finance charges					90,195	(36,952)
Number of Pupils					2020/21	2019/20
Autumn term					390	393
Spring term					394	398
Summer term					399	399