2020-08-31-accounts - St Cedd's School Educational Trust Limited

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				Page
Trustees' annual report (incorporating		the	director's report)
Independent auditors	report to the members			12
Statement offinancial	activities (including		income and
expenditure account)				16
Statement offinancial	position			17
Statement ofcash flows				18
Notes to the financial	statements			19

				2020	2020	2019
				Unrestncted
				funds	Total funds	Total funds
			Note		E
Income and endowments
Donations and legacies			5	138,542	138,542
Charitable activities			6	3,474,897	3,474,897	3,606,895
Other trading activities			7	72,240	72,240	83,798
Investment income			8	4,644	4,644	4,766
Total income				3,690,323	3,690,323	3,695,459
Expenditure
Expenditure on raising funds:
Costs offinancing			9	51,173	51,173	60,076
Costs ofother trading	activities		10	43,833	43,833	50,970
Expenditure on charitable	activities		11,12	3,552,257	3,552,257	3,304,704
Total expenditure				3,647,263	3,647,263	3,415,750
Net income and net movement		in funds		43,060	43,060	279,709
Reconciliation offunds
Total funds brought forward				5,248,386	5,248,386	4,968,677
Total funds carried forward				5,291,446	5,291,446	5,248,386

				2020
Fixed assets			Note	6		8	B
Tangible fixed assets			18		5,386,074		5,525,836
Current assets
Stocks Debtors Cash at bank and in	hand		19 20	60,130 121,944 1,031,993		56,003 155,615 846,180
				1,214,067		1,057,798
Creditors: amounts	falling	due
within one year			21	468,278		360,748
Net current assets					745,789		697,050
Total assets less current		liabilities			6,131,863		6,222,886
Creditors: amounts	falling	due after
more than one year			22		840,417		974,500
Net assets					5,291,446		5,248,386
Funds ofthe charity
Unrestricted funds					5,291,446		5,248,386
Total charity funds			25		5,291,446		5,248,386

				2020	2019
				6
Cash flows from operating		activities
Net income				43,060	279,709
Adjustments for:
Depreciation oftangible fixed		assets		192,007	189,464
Government grant income				(138,542)
Other interest receivable and		similar income		(4,644)	(4,766)
Accrued expenses/(income)				41,514	(42,559)
Chsngesin:
Stocks				(4,127)	12,869
Trade and other debtors				33,671	52,030
Trade and other creditors				123,254	(181,216)
Cash generated from operations				286,193	305,531
Interest received				4,644	4,766
Net cash from operating activities				290,837	310,297
Cash flows from investing		activities
Purchase oftangible assets				(52,245)	(56,033)
Net cash used in investing	activities			(52,245)	(56,033)
Cash flows from financing		activities
Proceeds from borrowings				(133,333)	(133,334)
Government grant income				138,542
Payments offinance lease	liabilities			(57,988)	(57,988)
Net cash used in financing	activities			(52,779)	(191,322)
Net increase in cash and	cash equivalents			185,813	62,942
Cash and cash equivalents		at beginning	ofyear	846,180	783,238
Cash and cash equivalents		at end ofyear		1,031,993	846,180

Depreciation is calculated so as value, over the useful economic	to write off the life ofthat asset	cos as fo
Land and buildings	2% straight	line
Fixtures and other equipment	20% straight	line
Demountables	10%straight	line
Computer equipment	33%straight	line

Donation	s	and le	gacies
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2020	Funds	2019
				8		F
Grants
Job retention/furlough			scheme	138,542	138,542
Charitable	activities
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds f	2020	Funds F	2019 6
School fees				3,377,951	3,377,951	3,479,341	3,479,341
Clubs				86,462	86,462	97,248	97,248
Registration	fees			8,500	8,500	8,000	8,000
Miscellaneous		school	income	1,984	1,984	22,306	22,306
				3,474,897	3,474,897	3,606,895	3,606,895

Other trading	activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds f	2020 6	Funds	2019
Shop income		65,026	65,026	74,825	74,825
Commission	income	7,214	7,214	8,973	8,973
		72,240	72,240	83,798	83,798

Yea	r ended 31 August	r ended 31 August	20	20
8.	Investment income
					Unrestricted	Total Funds	Unrestricted	Total Funds
					Funds	2020	Funds	2019
					8			F
	Bank interest	receivable			4,644	4,644	4,766	4,766
9.	Costs offinancing
					Unrestricted	Total Funds	Unrestricted	Total Funds
					Funds	2020	Funds	2019
					9		5	5
	Bank interest	and charges			51,173	51,173	60,076	60,076
10.	Costs ofother trading		activities
					Unrestricted	Total Funds	Unrestdcted	Total Funds
					Funds	2020	Funds 5	2019 f
	Costs of other trading		activities - Shop
	costs				43,833	43,833	50,970	50,970
11.	Expenditure	on charitable		activities	by fund type
					Unrestricted	Total Funds	Unrestricted	Total Funds
					Funds f	2020	Funds F	2019
	Provision ofeducation				2,778,189	2,778,189	2,643,446	2,643,446
	Support costs				774,068	774,068	661,258	661,258
					3,552,257	3,552,257	3,304,704	3,304,704
12.	Expenditure on charitable			activities	by activity type

Expenditure	on charitable act	ivities by activity type
		Activities
		undertaken	Support	Total funds	Total fund
		directly	costs	2020	2019
		F
Provision of	education	2,778,189	762,171	3,540,360	3,291,776
Governance	costs		11,897	11,897	12,928
		2,778,189	774,068	3,552,257	3,304,704

13.	Analysis ofsupport	co	sts
							Total2020f	Total 2019
	Staff costs						549,669	535,130
	Advertising, publicity	&	recruitment				26,312	40,507
	Governance costs						11,897	12,928
	General office						186,190	72,693
							774,068	661,258
14.	Net income
	Net income is stated	after charging/(crediting):
							2020 f	2019 f
	Depreciation of tangible		fixed	assets			192,007	189,464
15.	Auditors remuneration
							2020 f	2019 f
	Fees payable for the	audit of		the financial statements			11,100	11,200
	Fees payable to the	charity's		auditor and its associates for			other services:
	Audit-related assurance		and	payroll services			2,142	1,729
16.	Staff costs
	The total staff costs	and	employee benefits for the reporting				period are analysed as	follows:
							2020 f	2019 f
	Wages and saladies						2,541,426	2,330,757
	The average head count		ofemployees		during	the year was	96(2019:94).
	The number ofemployees whose remuneration					for the year	fell within the following	bands, were:
							2020	2019
							No.	No.
	f60,000tof69,999							1
	f70,000tof79,999 f80,000tof89,999						1 1	1
							2	2
	Key Management Personnel

2019ist45)were reimburs Tangible fixed assets	ed to Governo	r for travel co	sts during the ye	ar.
		Fixtures and
	Land and	other		Computer
	buildings	equipment	Demountables	Equipment	Total
	8	5	5	5
Cost
At 1 September 2019	5,506,232	349,958	183,873	432,872	6,472,935
Additions				52,245	52,245
At 31August 2020	5,506,232	349,958	183,873	485,117	6,525,180
Depreciation
At 1 September 2019	162,323	287,703	163,886	333,187	947,099
Charge for the year	91,723	14,019	16,890	69,375	192,007
At 31August 2020	254,046	301,722	180,776	402,562	1,139,106
Carrying amount
At 31 August 2020	5,252,186	48,236	3,097	82,555	5,386,074
At 31 August 2019	5,343,909	62,255	19,987	99,685	5,525,836

19.	not depreciate Stocks	d.
			2020 f	2019 E
	Stock		60,130	56,003
20.	Debtors
			2020	2019
			6	F
	Trade debtors		22,587	1,075
	Prepayments	and accrued income	99,357	154,540
			121,944	155,615

Creditors: amounts f	alling due within one year
			2020 f	2019 f
Bank loans and overdrafts			133,333	133,333
Trade creditors			5	10,783
Accruals and deferred	income		109,142	67,628
Obligations under finance leases and hire purchase		contracts		57,988
Pupil deposits held			11,500	12,000
Receipts in advance			138,927	79,016
Other creditors			75,371
			468,278	360,748

Credi	tors: am	ounts falling due after more than	one year
			2020	2019
Bank	loans and overdrafts		766,667	900,000
Pupil	deposits	held	73,750	74,500
			840,417	974,500

	The total fut as follows:	ur	e minimu	m	lease paym	ents under fin	ance leases an	d hire purchase contr	acts are
								2020 f	2019
	Not later than		1 year						57,988
24.	Government		grants
	The amounts		recognised		in the financial statements		for government	grants are as follows:
								2020	2019
	Recognised	in income		from donations		and legacies:
	Job retention/		furlough	scheme				138,542

			At				At
		1	September				31August
			2019 F	Income F	Expendituref	Transfers F	2020 f
General	funds		5,248,386	3,690,323	(3,647,263)		5,291,446
			5,248,386	3,690,323	(3,636,920)		5,291,446
			At				At
		1	September				31August
			2018 f	Income E	Expendituref	Transfers F	2019 f
General	funds		4,968,677	3,695,459	(3,415,750)		5,248,386
			4,968,677	3,695,459	(3,415,750)		5,248,386

Analysis ofnet as	se	ts between funds
			Unrestricted	Total Funds
			Funds	2020 f
Tangible fixed assets			5,386,074	5,386,074
Current assets			1,214,067	1,214,067
Creditors less than	1	year	(468,278)	(468,278)
Creditors greater than		1 year	(840,417)	(840,417)
Net assets			5,291,446	5,291,446
			Unrestricted	Total Funds
			Funds	2019
			F	F
Tangible fixed assets			5,525,836	5,525,836
Current assets			1,057,798	1,057,798
Creditors less than	1	year	(360,748)	(360,748)
Creditors greater than		1 year	(974,500)	(974,500)
Net assets			5,248,386	5,248,386

Anal	ysis ofchang	es in net debt
			At		At
			1 Sep 2019	Cash flows	31Aug 2020
					6
Cash	at bank and	in hand	846,180	185,813	1,031,993
Debt	due within one year		(191,321)	57,988	(133,333)
Debt	due after one	year	(900,000)	133,333	(766,667)
			(245,141)	377,134	131,993