| Page | ||||||
|---|---|---|---|---|---|---|
| Trustees' annual report (incorporating |
the | director's | report) | |||
| Independent auditor's |
report to the members | |||||
| 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), |
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 | |||||
| 31August | 2022. | ||||||||||
| 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 | |||||||||||
| Mr G C Allen (Chair) | |||||||||||
| Mr D Attridge | |||||||||||
| Mr M K Bryant | |||||||||||
| Mrs A H Childs | |||||||||||
| Mr P Copeiand | |||||||||||
| Mrs J LDagg | |||||||||||
| Mr F M Hargreaves | |||||||||||
| Mrs R Kangesu | |||||||||||
| DrSPeck | |||||||||||
| Mr S Hayman (appointed 23" February 2022) Rev R A Harvey (appointed 21"September 2022) |
|||||||||||
| Senior management | personnel | ||||||||||
| Mr M Clarke —Head | |||||||||||
| Mrs E Hodivala —Deputy Head | |||||||||||
| Mrs SAngel —Bursar Mr STurner —Head ofPastoral Care (appointed |
1"September | ||||||||||
| 2021) | |||||||||||
| IVlrs RWeaver —Head | ofAcademic | ||||||||||
| 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 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Total funds | Total funds | ||||
| Note | E | ||||
| Income and endowments | |||||
| Donations and legacies |
65,361 | ||||
| Charitable activities |
4,165,000 | 3,780,665 | |||
| Other trading activities |
71,513 | 86,684 | |||
| Investment income |
693 | 122 | |||
| Total income | 4,237,206 | 3,932,832 | |||
| Expenditure | |||||
| Expenditure on raising funds: |
|||||
| Costs offinancing | 9 | 1,526 | 44,640 | ||
| Costs ofother trading | activities | 10 | 49,229 | 61,397 | |
| Expenditure on charitable |
activities | 11,12 | 3,831,147 | 3,620,859 | |
| Total expenditure | 3,881,902 | 3,726,896 | |||
| Net income and net movement | in funds | 355,304 | 205,936 | ||
| Reconciliation offunds |
|||||
| Total funds brought forward |
5,497,382 | 5,291,446 | |||
| Total funds carried forward | 5,852,686 | 5,497,382 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | ||||||
| Fixed assets | ||||||
| Tangible fixed assets | 18 | 5,117,760 | 5,260,997 | |||
| Current assets | ||||||
| Stocks | 19 | 72,242 | 52,080 | |||
| Debtors | 20 | 113,085 | 118,357 | |||
| Cash at bank and in | hand | 1,011,233 | 482,868 | |||
| 1,196,560 | 653,305 | |||||
| Creditors: amounts | falling due | |||||
| within one year | 21 | 390,634 | 349,420 | |||
| Net current assets | 805,926 | 303,885 | ||||
| Total assets less current liabilities | 5,923,686 | 5,564,882 | ||||
| Creditors: amounts | falling due after | |||||
| more than one year | 22 | 71,000 | 67,500 | |||
| Net assets | 5,852,686 | 5,497,382 | ||||
| Funds ofthe charity | ||||||
| Unrestricted funds |
5,852,686 | 5,497,382 | ||||
| Total charity funds | 25 | 5,852,686 | 5,497,382 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Cash flows from operating | activities | |||
| Net income | 355,304 | 205,936 | ||
| Adjustments for: |
||||
| Depreciation oftangible fixed |
assets | 143,237 | 150,752 | |
| Government grant income |
(65,361) | |||
| Other interest receivable and |
similar income | (693) | (122) | |
| Accrued income | (49,958) | (39,970) | ||
| Changesin: | ||||
| Stocks | (20,162) | 8,050 | ||
| Trade and other debtors | 5,272 | 3,587 | ||
| Trade and other creditors | 94,672 | 48,195 | ||
| Cash generated from operations |
527,672 | 311,067 | ||
| Interest received | 693 | 122 | ||
| Net cash from operating activities |
528,365 | 311,189 | ||
| Cash flows from investing | activities | |||
| Purchase oftangible assets | (25,675) | |||
| Net cash used in investing activities |
(25,675) | |||
| Cash flows from financing | activities | |||
| Repayment of borrowing |
(900,000) | |||
| Government grant income |
65,361 | |||
| Net cash used in financing activities |
(834,639) | |||
| Net increase/(decrease) in |
cash and cash | equivalents | 528,365 | (549,125) |
| Cash and cash equivalents | at beginning | ofyear | 482,868 | 1,031,993 |
| Cash and cash equivalents | at end ofyear | 1,011,233 | 482,868 |
| Land and | buildings | 2% straight | line |
|---|---|---|---|
| Fixtures | and other equipment | 20% straight | line |
| Demountables | 10%straight | line | |
| Computer | equipment | 33%straight | line |
| Total Funds | Total Funds |
|---|---|
| 2022 | 2021 |
| E | F. |
| 3,962,201 | 3,655,443 |
| 182,214 | 112,295 |
| 8,000 | 7,400 |
| 12,585 | 5,527 |
| 4,165,000 | 3,780,665 |
| Total Funds 2022 E |
Total Funds 2021 F. |
||||
|---|---|---|---|---|---|
| School fees | 3,962,201 | 3,655,443 | |||
| Clubs | 182,214 | 112,295 | |||
| Registration | fees | 8,000 | 7,400 | ||
| Miscellaneous | school income | 12,585 | 5,527 | ||
| 4,165,000 | 3,780,665 | ||||
| 7. | Other trading | activities | |||
| Total Funds | Total Funds | ||||
| 2022 | 2021 | ||||
| E | |||||
| Shop income | 68,914 | 83,483 | |||
| Commission | income | 2,599 | 3,201 | ||
| 71,513 | 86,684 | ||||
| 8. | Investment | income | |||
| Total Funds | Total Funds | ||||
| 2022 | 2021 | ||||
| f | F | ||||
| Bank interest | receivable | 693 | 122 | ||
| 9. | Costs offinancing | ||||
| Total Funds | Total Funds | ||||
| 2022 | 2021 | ||||
| F. | |||||
| Bank interest | and charges | 1,526 | 44,640 | ||
| 10. | Costs ofother trading activities | ||||
| Total Funds | Total Funds | ||||
| 2022 | 2021 | ||||
| IE | F | ||||
| Costs ofother trading activities - Shop |
|||||
| costs | 49,229 | 61,397 |
| Expendit | ure on charitable activities by fun |
d type | |
|---|---|---|---|
| Total Funds | Total Funds | ||
| 2022 | 2021 | ||
| E | F | ||
| Provision | ofeducation | 2,997,960 | 2,792,232 |
| Support | costs | 833,187 | 828,627 |
| 3,831,147 | 3,620,859 |
| Expenditure | on charitable act |
ivities by activity type |
|||
|---|---|---|---|---|---|
| Activities | |||||
| undertaken | Support | Total funds | Total fund | ||
| directly | costs | 2022 | 2021 | ||
| Provision of | education | 2,997,960 | 812,113 | 3,810,073 | 3,600,832 |
| Governance | costs | 21,074 | 21,074 | 20,027 | |
| 2,997,960 | 833,187 | 3,831,147 | 3,620,859 |
| Analysis of | support | costs | ||
|---|---|---|---|---|
| Total 2022 | Total 2021 | |||
| Staff costs | 573,432 | 563,526 | ||
| General office | 229,518 | 234,733 | ||
| Governance | costs | 11,820 | 11,790 | |
| Advertising, | publicity | 8 recruitment | 18,417 | 18,578 |
| 833,187 | 828,627 |
| 14. | Net income | Net income | Net income | Net income | ||
|---|---|---|---|---|---|---|
| Net income is stated after charging/(crediting): | ||||||
| 2022 | 2021 | |||||
| f. | ||||||
| Depreciation oftangible |
fixed | assets | 143,237 | 150,752 | ||
| 15. | Auditors remuneration |
|||||
| 2022 | 2021 | |||||
| f. | ||||||
| Fees payable for the audit of | the financial | statements | 11,100 | 11,100 | ||
| Fees payable to the charity's Payroll services |
auditor and | its associates for other services: | 9,976 | 8,929 |
| Staffcosts | Staffcosts | |||
|---|---|---|---|---|
| The total staff costs and employee | benefits for the reporting | period are analysed as | follows: | |
| 2022 | 2021 | |||
| Wages and salaries | 2,186,131 | 2,122,743 | ||
| Social security | costs | 179,099 | 182,250 | |
| Pension costs | 337,941 | 326,460 | ||
| Other employee | benefits | 14,979 | 17,447 | |
| 2,718,150 | 2,648,900 |
| The average head count ofem | ployees | during the year | was 95( | 2021:96). | 2021:96). | ||
|---|---|---|---|---|---|---|---|
| The number of employees |
whose | remuneration | (including | employer's | national | insurance | |
| contributions and other benefits) for the |
year fell within | the following | bands, | were: | |||
| 2022 | 2021 | ||||||
| No. | No. | ||||||
| 260,000to F69,999 | 1 | 2 | |||||
| F70,000tof79,999 | 1 | 1 | |||||
| F90,000to F99,999 | 1 | ||||||
| F100,000to F109,999 | |||||||
| Key Ilanagement Personnel |
| Tangible fixed assets | |||||
|---|---|---|---|---|---|
| Fixtures and | |||||
| Land and | other | Computer | |||
| buildings | equipment F |
Demountables | Equipment | Total f |
|
| Cost | |||||
| At 1 September 2021 | |||||
| and 31August 2022 | 5,506,232 | 375,633 | 183,873 | 485,117 | 6,550,855 |
| Depreciation | |||||
| At 1 September 2021 | 345,769 | 319,982 | 181,219 | 442,888 | 1,289,858 |
| Charge for the year | 91,723 | 20,660 | 443 | 30,411 | 143,237 |
| At 31August 2022 | 437,492 | 340,642 | 181,662 | 473.229 | 1.433.095 |
| Carrying amount |
|||||
| At 31August 2022 | 5,068,740 | 34,991 | 2,211 | 11,818 | 5,117,760 |
| At 31August 2021 | 5,160,463 | 55,651 | 2,654 | 42,229 | 5,260,997 |
| 19. | not depreciate Stocks |
d. | ||
|---|---|---|---|---|
| 2022 f |
2021 F |
|||
| Stock | 72,242 | 52,080 | ||
| 20. | Debtors | |||
| 2022 f |
2021 F |
|||
| Trade debtors | 5,159 | 12,867 | ||
| Prepayments | and accrued income | 107,926 | 105,490 | |
| 113,085 | 118,357 |
| Creditors: am | ounts f |
alling due within one year | ||
|---|---|---|---|---|
| 2022 | 2021 | |||
| F | ||||
| Trade creditors | 20,451 | 2,757 | ||
| Accroals and deferred | income | 19,214 | 69,172 | |
| Pupil deposits | held | 9,750 | 14,000 | |
| Receipts in advance |
240,806 | 175,398 | ||
| Other creditors | 100,413 | 88,093 | ||
| 390,634 | 349,420 |
| 2022 | 2021 |
|---|---|
| E | F |
| 71,000 | 67,500 |
| 24. | Government | grants | |||||
|---|---|---|---|---|---|---|---|
| The amounts | recognised | in the financial statements for |
government | grants are as follows: | |||
| 2022 | 2021 | ||||||
| E | f | ||||||
| Recognised | in income from donations | and legacies: | |||||
| Government | grants income | 65,361 | |||||
| 25. | Analysis of | charitable | funds | ||||
| Unrestricted | funds | ||||||
| At | At | ||||||
| 1 September | 31August | ||||||
| 2021 | Income | Expenditure | 2022 | ||||
| F | |||||||
| General funds | 5,497,382 | 4,237,206 | (3,881,902) | 5,852,686 | |||
| 5,497,382 | 4,237,206 | (3,881,902) | 5,852,686 | ||||
| At | At | ||||||
| 1 September | 31 August | ||||||
| 2020 | Income | Expenditure | 2021 | ||||
| F | |||||||
| General funds | 5,291,446 | 3,932,832 | (3,726,896) | 5,497,382 | |||
| 5,291,446 | 3,932,832 | (3,726,896) | 5,497,382 |
| Analysis ofnet as | se | ts between funds | ||
|---|---|---|---|---|
| Unrestricted | Total Funds | |||
| Funds | 2022 | |||
| Tangible fixed assets | 5,117,760 | 5,117,760 | ||
| Current assets | 1,196,560 | 1,196,560 | ||
| Creditors less than | 1 | year | (390,634) | (390,634) |
| Creditors greater than | 1 year | P1,000) | (71,000) | |
| Net assets | 5,852,686 | 5,852,686 | ||
| Unrestricted | Total Funds | |||
| Funds | 2021 | |||
| E | ||||
| Tangible fixed assets Current assets |
5,260,997 553,305 |
5,260,997 653,305 |
||
| Creditors less than | 1 | year | (349,420) | (349,420) |
| Creditors greater than | 1year | (67,500) | (67,500) | |
| Net assets | 5,497,382 | 5,497,382 |
| Analy | sis | ofc | han | ges | in net debt |
|||||
|---|---|---|---|---|---|---|---|---|---|---|
| At | At | |||||||||
| 1 | Sep 2021 f |
Cash flows f |
31Aug | 2022 f |
||||||
| Cash | at | bank | and | in | hand | 482,868 | 528,365 | 1,011,233 |