2021-08-31-accounts

							Page
Trustees' annual report (incorporating				the	director's	report)
Independent	auditor's	report to	the members				12
Statement	offinancial	activities	(including		income and
expenditure	account)						17
Statement	offinancial	position					18
Statement	ofcash flows						19
Notes to the financial		statements					20

The trustees	The trustees	(also referred	(also referred	(also referred	to as Governors in this report),	to as Governors in this report),	to as Governors in this report),	to as Governors in this report),	to as Governors in this report),	who are also the directors for the purposes	who are also the directors for the purposes	who are also the directors for the purposes	who are also the directors for the purposes	who are also the directors for the purposes
of company		law, present			their	report and the financial			statements			of the charity		for the year ended
31 August	2021.
Reference	and administrative					details
Registered		charity	name			StCedd's School Educational Trust							Limited
Charity registration			number			310865
Company	registration			number		00795895
Principal office and			registered			178a New London		Road
office						Chelmsford
						Essex
						CM2 OAR
The trustees
						Mrs F M Marshall		(Chair)
						Mr G C Allen
						Mr D Attridge
						Ms E Brindley	(resigned			29'" September 2020)
						Mr M K Bryant
						Mrs A H Childs
						Mr P Copeland
						Mrs J L Dagg
						Mr F M Hargreaves
						Mrs R Kangesu	(appointed				30'"June 2021)
						DrSPeck
						Mr S Hayman	(appointed				23"' February 2022)
Senior management				personnel
						Mr M Clarke —Head
						Mrs E Hodivala	—Deputy				Head
						Mrs SAngel —Bursar Mrs K Braniff —Head of Pastoral Care (resigned Mr STurner —Head of Pastoral Care (appointed								31"August 2021) 1"September
						2021)
						Mrs RWeaver	—Head		of		Academic
Auditor						Edmund Carr LLP
						Chartered Accountants				&	Statutory		Auditor
						146 New London Road
						Chelmsford
						Essex
						CM2 OAW
Bankers						Barclays Bank	pic
						40-41 High Street
						Chelmsford
						Essex
						CM1 1BE

				2021	2021	2020
				Unrestricted
			Note	funds f	Total funds f	Total funds
Income and endowments
Donations and legacies			5	65,361	65,361	138,542
Charitable activities			6	3,735,422	3,735,422	3,474,897
Other trading activities			7	86,684	86,684	72,240
Investment income			8	122	122	4,644
Total income				3,887,589	3,887,589	3,690,323
Expenditure
Expenditure on raising funds:
Costs offinancing			9	44,640	44,640	51,173
Costs ofother trading	activities		10	61,397	61,397	43,833
Expenditure on charitable	activities		11,12	3,575,616	3,575,616	3,552,257
Total expenditure				3,681,653	3,681,653	3,647,263
Net income and net movement		in funds		205,936	205,936	43,060
Reconciliation offunds
Total funds brought forward				5,291,446	5,291,446	5,248,386
Total funds carried forward				5,497,382	5,497,382	5,291,446

				2021		2020
			Note
Fixed assets
Tangible fixed assets			18		5,260,997		5,386,074
Current assets
Stocks			19	52,080		60,130
Debtors			20	118,357		121,944
Cash at bank and in	hand			482,868		1,031,993
				653,305		1,214,067
Creditors: amounts	falling	due
within one year			21	349,420		468,278
Net current assets					303,885		745,789
Total assets less current		liabilities			5,564,882		6,131,863
Creditors: amounts	falling	due after
more than one year			22		67,500		840,417
Net assets					5,497,382		5,291,446
Funds ofthe charity
Unrestricted funds					5,497,382		5,291,446
Total charity funds			25		5,497,382		5,291,446

Year ended 31August	2021
			2021	2020
				F
Cash flows from operating	activities
Net income			205,936	43,060
Adjustments for:
Depreciation oftangible fixed assets			150,752	192,007
Government grant income			(65,361)	(138,542)
Other interest receivable and similar income			(122)	(4,644)
Accrued (income)/expenses			(39,970)	41,514
Changesin:
Stocks			8,050	(4,127)
Trade and other debtors			3,587	33,671
Trade and other creditors			48,195	123,254
Cash generated from operations			311,067	286,193
Interest received			122	4,644
Net cash from operating activities			311,189	290,837
Cash flows from investing	activities
Purchase oftangible assets			(25,675)	(52,245)
Net cash used in investing activities			(25,675)	(52,245)
Cash flows from financing	activities
Repayment of borrowing			(900,000)	(133,333)
Government grant income			65,361	138,542
Payments offinance lease liabilities				(57,988)
Net cash used in financing activities			(834,639)	(52,779)
Net (decrease)/increase in	cash and cash	equivalents	(549,125)	185,813
Cash and cash equivalents	at beginning	ofyear	1,031,993	846,180
Cash and cash equivalents	at end ofyear		482,868	1,031,993

Land and buildings	2% straight	line
Fixtures and other equipment	20% straight	line
Demountables	10%straight	line
Computer equipment	33%straight	line

				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds f	2021 f	Funds f	2020 f
Grants
Job retention/		furlough	scheme	65,361	65,361	138,542	138,542
Charitable	activities
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds f	2021 f	Funds f	2020 f
School fees				3,655,443	3,655,443	3,377,951	3,377,951
Clubs				67,052	67,052	86,462	86,462
Registration	fees			7,400	7,400	8,500	8,500
Miscellaneous		school	income	5,527	5,527	1,984	1,984
				3,735,422	3,735,422	3,474,897	3,474,897
Other trading		activities
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds f	2021 f	Funds f	2020 f
Shop income				83,483	83,483	65,026	65,026
Commission		income		3,201	3,201	7,214	7,214
				86,684	86,684	72,240	72,240

						Unrestricted	Total Funds	Unrestricted	Total Funds
						Funds	2021	Funds	2020
									F
	Bank interest		receivable			122	122	4,644	4,644
9.	Costs offinancing
						Unrestricted	Total Funds	Unrestricted	Total Funds
						Funds	2021	Funds	2020
						F
	Bank interest		and charges			44,640	44,640	51,173	51,173
10.	Costs ofother trading			activities
						Unrestricted	Total Funds	Unrestricted	Total Funds
						Funds	2021	Funds	2020
						F		E
	Costs ofother		trading	activities - Shop
	costs					61,397	61,397	43,833	43,833
11.	Expenditure	on charitable			activities	by fund type

Expendit	ure on charitable act	ivities by fund type
		Unrestricted	Total Funds	Unrestncted	Total Funds
		Funds	2021	Funds	2020
		E	f.
Provision	ofeducation	2,746,989	2,746,989	2,778,189	2,778,189
Support	costs	828,627	828,627	774,068	774,068
		3,575,616	3,575,616	3,552,257	3,552,257

Expenditure	on charitable act	ivities by activity type
		Activities
		undertaken	Support	Total funds	Total fund
		directly	costs	2021	2020
					F
Provision of	education	2,746,989	808,600	3,555,589	3,540,360
Governance	costs		20,027	20,027	11,897
		2,746,989	828,627	3,575,616	3,552,257

13.	Analysis of	s	upport	c	osts
								Total 2021	Total 2020
								E	F
	Staff costs							563,526	549,669
	General office							234,733	186,190
	Governance	costs						11,790	11,897
	Advertising,	publicity		&	recruitment			18,578	26,312
								828,627	774,068
14.	Net income
	Net income is		stated	after charging/(crediting):
								2021	2020
									F
	Depreciation	oftangible			fixed	assets		150,752	192,007
15.	Auditors remuneration
								2021	2020
	Fees payable		for the	audit of		the financial	statements	11,100	11,100
	Fees payable		to the	charity's		auditor and	its associates for other services:
	Payroll services							8,929	2,142

Staff costs	Staff costs
The total staff costs and employee		benefits for the reporting	period are analysed as	follows:
			2021	2020
Wages and salaries			2,122,743	2,040,506
Social security	costs		182,250	178,684
Pension costs			326,460	308,238
Other employee	benefits		17,447	13,998
			2,648,899	2,541,426

The averag	e head count o	femployees during t	he year was 96(2020:96).
The number	ofemployees	whose remuneration	for the year fell within the following	bands, were:
			2021	2020
			No.	No.
F60,000 to	F69,999		2
F70,000 to	F79,999		1	1
F80,000 to	f89,999
F90,000 to	F99,999		1
			4

(2020:6113)were reimbu Tangible fixed assets	rsed to Govern	ors for travel	costs during the	year.
		Fixtures and
	Land and	other		Computer
	buildings	equipment	Demountables	Equipment	Total
	F			F
Cost
At 1 September 2020	5,506,232	349,958	183,873	485,117	6,525,180
Additions		25,675			25,675
At 31 August 2021	5,506,232	375,633	183,873	485,117	6,550,855
Depreciation
At 1 September 2020	254,046	301,722	180,776	402,562	1,139,106
Charge for the year	91,723	18,260	443	40,326	150,752
At 31 August 2021	345,769	319,982	181,219	442,888	1,289,858
Carrying amount
At 31 August 2021	5,160,463	55,651	2,654	42,229	5,260,997
At 31 August 2020	5,252,186	48,236	3,097	82,555	5,386,074

19.	not depreciate Stocks	d.	,,
			2021	2020
	Stock		52,080	60,130
20.	Debtors
			2021 f	2020 E
	Trade debtors		12,867	22,587
	Prepayments	and accrued income	105,490	99,357
			118,357	121,944

Creditors: amounts f	alling due within one year
		2021	2020
Bank loans and overdrafts			133,333
Trade creditors		2,757	5
Accruals and deferred	income	69,172	109,142
Pupil deposits held		14,000	11,500
Receipts in advance		175,398	138,927
Other creditors		88,093	75,371
		349,420	468,278

Credi	tors: am	ounts falling due after more than	one year
			2021	2020
Bank	loans and overdrafts			766,667
Pupil	deposits	held	67,500	73,750
			67,500	840,417

Government	grants	grants	grants
The amounts	recognised in the financial statements			for government	grants are as	follows:
					2021 f	2020
Recognised	in income	from donations	and legacies:
Job retention/	furlough	scheme			65,361	138,542

Unrestri	cted funds
			At				At
		1	September				31 August
			2020	Income	Expenditure	Transfers	2021
			F	E	F	F	F
General	funds		5,291,446	3,887,589	(3,681,653)		5,497,382
			5,291,446	3,887,589	(3,681,653)		5,497,382
			At				At
		1	September				31 August
			2019	Income	Expenditure	Transfers	2020
			E	F	F	E	F
General	funds		5,248,386	3,690,323	(3,647,263)		5,291,446
			5,248,386	3,690,323	(3,647,263)		5,291,446

Analysis of net as	se	ts between funds
			Unrestricted	Total Funds
			Funds F	2021 f
Tangible fixed assets			5,260,997	5,260,997
Current assets			653,305	653,305
Creditors less than	1	year	(349,420)	(349,420)
Creditors greater than		1 year	(67,500)	(67,500)
Net assets			5,497,382	5,497,382
			Unrestricted	Total Funds
			Funds	2020
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

Anal	ysis ofchang	es in net debt
			At		At
			1 Sep 2020	Cash flows	31 Aug 2021
				E
Cash	at bank and	in hand	1,031,993	(549,125)	482,868
Debt	due within one year		(133,333)	133,333
Debt	due after one	year	(766,667)	766,667
			131,993	350,875	482,868