2021-08-31-accounts - Gosfield School Limited

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	Page
Report ofthe Trustees	1 to	8
Report ofthe Independent Auditors	9 to	11
Statement of Financial Activities
Balance Sheet	13
Cash Flow Statement	14
Notes tothe Cash Flow Statement	15
Notes to the Financial Statements	16 to	29
Detailed Statement of Financial Activities	30 to	31

			FO	R THE YEAR E	NDED 31AUGUS	T 2021
							2021	2020
					Unrestricted	Restricted	Total	Total
				Notes	funds E	fundf	funds f	funds E
INCOME AND	ENDOWMENTS		FROM
Donations and	legacies				222,774	181,298	404,072	272,382
Charitable activities
School Fees					2,945,807		2,945,807	2,981,508
Other ancilliary	trading	income			558,112		558,112	464,950
Investment income					675		675	10,694
Total					3,727,368	181,298	3,908,666	3,729,534
EXPENDITURE	ON
Raising funds					38,152		38,152	45,813
Charitable activities
Teaching costs					2,490,268		2,490,268	2,466,528
Welfare costs
					286,411		286,411	258,548
Premises					414,950	32,387	447,337	333,492
Management	and administration				552,159	38,223	590,382	622,256
Total					3,781,940	70,610	3,852,550	3,726,637
NET INCOME/(EXPENDITURE)					(54,572)	110,688	56,116	2,897
RECONCILIATION OF FUNDS
Total funds brought forward					1,482,996	172,405	1,655,401	1,652,504
TOTAL FUNDS	CARRIED FORWARD				1,428,424	283,093	1,711,517	1,655,401

			31A	UGUST 2021
						2021	2020
				Unrestricted	Restricted	Total	Total
				funds	fund	funds	funds
			Notes	f	f	f	f
FIXEDASSETS
Tangible assets			12	4,632,709	199,541	4,832,250	4,775,750
CURRENT ASSETS
Stocks			13	67,408		67,408	72,404
Debtors			14	537,845	83,552	621,397	627,191
Cash at bank and in hand				60,130		60,130	31,877
				665,383	83,552	748,935	731,472
CREDITORS
Amounts falling due within one year			15	(2,784,822)		(2,784,822)	(2,698,986)
NET CURRENT	ASSETS			(2,119,439)	83,552	(2,035,887)	(1,967,514)
TOTAL ASSETS LESSCURRENT LIABILITIES				2,513,270	283,093	2,796,363	2,808,236
CREDITORS
Amounts falling due after more than one year			16	(1,084,846)		(1,084,846)	(1,152,835)
NET ASSETS				1,428,424	283,093	1,711,517	1,655,401
FUNDS			19
Unrestricted funds:
General fund						(368,061)	(313,489)
Revaluation	reserve					1,796,485	1,796,485
						1,428,424	1,482,996
Restricted funds:
School development		fund				283,093	172,405
TOTAL FUNDS						1,711,517	1,655,401

			2021	2020
		Notes	E	E
Cash flows from operating	activities
Cash generated from operations			374,734	260,376
Interest paid			(38,152)	(45,813)
Net cash provided by operating activities			336,582	214,563
Cash flows from investing	activities
Purchase oftangible fixed	assets		(233,446)	(49,706)
Sale oftangible fixed assets				5,496
Net cash used in investing	activities		(233,446)	(44,210)
Cash flows from financing	activities
Loan repayments			(58,337)	(65,053)
Finance lease capital repayments			(16,546)	(18,715)
Net cash used in financing	activities		(74,883)	(83,768)
Change in cash and cash	equivalents	in the
reporting period			28,253	86,585
Cash and cash equivalents	at the beginning
ofthe reporting period			31,877	(54,708)
Cash and cash equivalents	at the end	of
the reporting period			60,130	31,877

	NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31AUGUST 2021	NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31AUGUST 2021	NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31AUGUST 2021	NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31AUGUST 2021	NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31AUGUST 2021	NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31AUGUST 2021
	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
						2021	2020
						f	E
	Net income for the	reporting		period {asper the Statement of Financial
	Activities)					56,116	2,897
	Adjustments for:
	Depreciation charges					176,946	73,367
	Loss on disposal offixed		assets				10,019
	Interest paid					38,152	45,813
	Decrease/(increase)	in stocks				4,996	(7,630)
	Decrease in debtors					5,794	47,816
	Increase in creditors					92,730	88,094
	Net cash provided	by operations				374,734	260,376
2.	ANALYSIS OF CHANGES		IN NET DEBT
					At 1/9/20	Cash flow	At 31/8/21
					E
	Net cash
	Cash at bank and in	hand			31,877	28,253	60,130
					31,877	28,253	60,130
	Debt
	Finance leases				(26,198)	16,546	(9,652)
	Debts falling due within		1year		(112,471)		(112,471)
	Debts falling due after 1year				(1,143,183)	58,337	(1,084,846)
					(1,281,852)	74,883	(1,206,969)
	Total				(1,249,975)	103,136	(1,146,839)

					2021	2020
		Unrestricted		Restricted	Total	Total
			funds	funds	funds	funds
			E	E	E	f
Donations		150,002		181,298	331,300	203,333
Donated services and facilities			72,772		72,772	69,049
		222,774		181,298	404,072	272,382
INVESTMENT INCOME
					2021	2020
		Unrestricted		Restricted	Total	Total
			funds	funds	funds	funds
			E	E	E	E
Rents received			675		675	10,694
INCOME FROM	CHARITABLE ACTIVITIES
					2021	2020
		Activity			f	f
Gross fees		School Fees			3,530,199	3,726,059
Total bursaries	and allowances	School Fees			(584,392)	(744,551)
Minibus income		Other ancilliary	trading	income	100,507	113,301
Income from school shops		Other ancilliary	trading	income	45,684	44,018
Sundry income		Other ancilliary	trading	income	411,921	307,631
					3,503,919	3,446,458

							2021	2020
					Unrestricted	Restricted	Total	Total
					funds	funds	funds	funds
					E	f	f	E
Interest	payable	and	similar	charges	38,152		38,152	45,813

CHARITABLE	ACTIVITIES COSTS
			Support
		Direct	costs (see
		Costs	note 7)	Totals
		E	E	E
Teaching costs		2,490,268		2,490,268
Welfare costs		286,411		286,411
Premises		447,337		447,337
Management	and administration	580,182	10,200	590,382
		3,804,198	10,200	3,814,398
SUPPORT COSTS
		2021		2020
		Governance		Governance
		costs		costs
		f		E
Management	and administration	10,200		10,833

		2021	2020
		E	E
Auditors'	remuneration	10,200	10,833
Depreciation —owned assets		176,946	73,367
Other operating leases		842	5,083
Deficit on	disposal offixed assets		10,019

STAFF C	OSTS
					2021	2020
					E	E
Wages and salaries					2,265,344	2,242,	154
Social security costs					202,024	201,373
Other pension costs					356,491	375,612
					2,823,859	2,819,139
The average		monthly	number ofemployees	during the year was as follows:
					2021	2020
Teachers					38	43
Administration					9		10
Learning	support				14		16
Catering					5		7
Domestic	and Laundry				3		4
Maintenance		and groundsmen			3		4
Drivers					4		7
Nursery	assistants				3		2
					79		93

	2021	2020
E60,001 - E70,000	2
E90,001 —E100,000
E110,000 —E120,000

				Unrestricted	Restricted	Total
				funds	fund	funds
				E	f	E
INCOME AND	ENDOWMENTS		FROM
Donations and	legacies			79,049	193,333	272,382
Charitable activities
School Fees				2,981,508		2,981,508
Other ancilliary	trading	income		464,950		464,950
Investment income				10,694		10,694
Total				3,536,201	193,333	3,729,534
EXPENDITURE	ON
Raising funds				45,813		45,813
Charitable activities
Teaching costs				2,466,528		2,466,528
Welfare costs				258,548		258,548
Premises				312,447	21,045	333,492
Management	and administration			585,982	36,274	622,256
Total				3,669,318	57,319	3,726,637
NET INCOME/(EXPENDITURE)				(133,117)	136,014	2,897
RECONCILIATION OF FUNDS
Total funds brought forward				1,616,113	36,391	1,652,504
TOTAL FUNDS	CARRIED FORWARD			1,482,996	172,405	1,655,401

TANGIBLE FIXEDASSETS
		Assets in
		the	Fixtures
	Freehold	course of	and	Motor
	property E	construction f	fittings E	vehicles f	Totals E
COST
At 1September 2020	4,492,201		831,236	56,885	5,380,322
Additions		199,541	33,905		233,446
At 31August 2021	4,492,201	199,541	865,141	56,885	5,613,768
DEPRECIATION
At 1September 2020			561,946	42,626	604,572
Charge for year			170,617	6,329	176,946
At 31August 2021			732,563	48,955	781,518
NET BOOK VALUE
At 31August 2021	4,492,201	199,541	132,578	7,930	4,832,250
At 31August 2020	4,492,201		269,290	14,259	4,775,750

13.	STOCKS
						2021	2020
						E	E
	Finished goods					67,408	72,404
	The amount ofstock		recognised as an expense			in the year was f33,083(2020:f78,542).
14.	DEBTORS:AMOUNTS		FALLING DUE WITHIN ONE YEAR
						2021	2020
						E	E
	Trade debtors					501,547	540,072
	Other debtors					55,385	39,850
	Prepayments	and accrued			income	64,465	47,269
						621,397	627,191
15.	CREDITORS: AMOUNTS			FALLING DUE WITHIN		ONE YEAR
						2021	2020
						E	f
	Bank loans and overdrafts				(see note 17)	112,471	112,471
	Hire purchase	(see note 18)				9,652	16,546
	Trade creditors					61,145	35,460
	Social security	and other			taxes	86,058	142,935
	Other creditors					1,256,679	1,172,110
	Accruals and	deferred		income		1,258,817	1,219,464
						2,784,822	2,698,986

CRE	DITORS: AMOUNTS FALLING DUE AFTER MORE TH	AN ONE YEAR
		2021	2020
		E	E
Bank	loans (see note 17)	1,084,846	1,143,183
Hire	purchase (see note 18)		9,652
		1,084,846	1,152,835

					2021	2020
					E	E
Amounts falling due within one year on demand:
Bank loans				112,471		112,471
Amounts falling between one	and two years:
Bank loans —1-2years				112,471		112,471
Amounts falling due between	two and five years:
Bank loans —2-5years				337,414		337,414
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more than 5years				634,961		693,298
The bank loans and overdrafts	are secured by a debenture		and legal mortgage	over all assets		ofthe company.
The company has 2 separate	loans with Natwest	Bank. The first loan has an		interest	rate of 1.3/o per annum
above the Natwest base rate.	The second loan has	an interest rate of1.92/o per annum			above	the Natwest base
rate.

		Hire purchase	contracts
		2021	2020
		E	E
Net obligations	repayable:
Within one year		9,652	16,546
Between one and five years			9,652
		9,652	26,198

LEASING AGREEMENTS - continued
	Non-cancellable	operating
	leases
		2020
		E
Within one year		72,937
Between one and five years		192,098
	232,575	265,035

MOVEMENT	IN FUN	DS
				Net
				movement	At
			At 1/9/20	in funds	31/8/21
			E	E	E
Unrestricted	funds
General fund			(313,489)	(54,572)	(368,061)
Revaluation	reserve		1,796,485		1,796,485
			1,482,996	(54,572)	1,428,424
Restricted funds
School development		fund	172,405	110,688	283,093
TOTAL FUNDS			1,655,401	56,116	1,711,517

		Incoming	Resources	Movement
		resources	expended	in funds
		E	E	E
Unrestricted funds
General fund		3,727,368	(3,781,940)	(54,572)
Restricted funds
School development	fund	181,298	(70,610)	110,688
TOTAL FUNDS		3,908,666	(3,852,550)	56,116

				Net
				movement	At
			At 1/9/19	in funds	31/8/20
			E	E	E
Unrestricted	funds
General fund			(180,372)	(133,117)	(313,489)
Revaluation	reserve		1,796,485		1,796,485
			1,616,113	(133,117)	1,482,996
Restricted funds
School development		fund	36,391	136,014	172,405
TOTAL FUNDS			1,652,504	2,897	1,655,401

		Incoming	Resources	Movement
		resources	expended	in funds
		E	E	E
Unrestricted funds
General fund		3,536,201	(3,669,318)	(133,117)
Restricted funds
School development	fund	193,333	(57,319)	136,014
TOTAL FUNDS		3,729,534	(3,726,637)	2,897

				Net
				movement	At
			At 1/9/19	in funds	31/8/21
			E	E	f
Unrestricted	funds
General fund			(180,372)	(187,689)	(368,061)
Revaluation	reserve		1,796,485		1,796,485
			1,616,113	(187,689)	1,428,424
Restricted funds
School development		fund	36,391	246,702	283,093
TOTAL FUNDS			1,652,504	59,013	1,711,517

		Incoming	Resources	Movement
		resources	expended	in funds
		E	E	E
Unrestricted funds
General fund		7,263,569	(7,451,258)	(187,689)
Restricted funds
School development	fund	374,631	(127,929)	246,702
TOTAL FUNDS		7,638,200	(7,579,187)	59,013

			DETAILED STATEMENT OF FOR THE YEAR ENDED	FINANCIAL ACTIVITIES 31AUGUST 2021
				2021	2020
				E	E
INCOME AND ENDOWMENTS
Donations and	legacies
Donations				331,300	203,333
Donated services and facilities				72,772	69,049
				404,072	272,382
Investment income
Rents received				675	10,694
Charitable activities
Gross fees				3,530,199	3,726,059
Total bursaries	and	allowances		(584,392)	{744,551)
Minibus income				100,507	113,301
Income from school		shops		45,684	44,018
Sundry income				411,921	307,631
				3,503,919	3,446,458
Total incoming	resources			3,908,666	3,729,534
EXPENDITURE
Investment management			costs
Bank interest and charges				7,525	20,758
Mortgage interest				27,033	25,055
Other Interest				3,594
				38,152	45,813
Charitable activities
Staff costs				2,265,344	2,242,154
Social security				202,024	201,373
Pensions				356,491	375,612
Other operating	leases			842	5,083
Rates and water				28,265	26,330
Insurance				45,193	46,334
Light and heat				79,875	66,503
Telephone				2,991	3,242
Postage and stationery				24,755	26,476
Advertising				25,908	34,532
Sundries				3,056	8,306
Teaching resources				90,809	105,742
Purchases				106,860	86,173
Staff and governor		training		3,575	9,466
Carried forward				3,235,988	3,237,326

	FOR THE YEAR ENDED 3	1AUGUST 2021
		2021	2020
		E	E
Charitable activities
Brought forward		3,235,988	3,237,326
Maintenance and repairs		71,010	62,035
Motor expenses		80,145	76,430
Subscriptions		10,093	11,863
Legal fees		1,577	4,102
Professional fees		47,622	30,945
Lease costs		53,290	38,722
Bad debts		16,532	19,859
Computer expenses		38,223	36,274
Finance, ITand design services		72,772	69,049
Fixtures and fittings		170,617	69,801
Motor vehicles		6,329	3,566
Loss on sale oftangible	fixed assets		10,019
		3,804,198	3,669,991
Support costs
Governance costs
Auditors' remuneration		10,200	10,833
Total resources expended		3,852,550	3,726,637
Net income		56,116	2,897