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