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|---|---|---|---|---|---|---|
|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|
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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),|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||||||
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|||||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|
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||||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|
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||||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|
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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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|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|
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|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|
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|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|
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|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||||||||
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|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|
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|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|
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|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|
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|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|
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|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|
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|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||