| Page | ||
|---|---|---|
| Report ofthe Trustees | 1 to | 8 |
| Report ofthe Independent Auditors |
9 to | 11 |
| Statement of Financial Activities | 12 | |
| Balance Sheet | 13 | |
| Cash Flow Statement | 14 | |
| Notes to the Cash Flow Statement | 15 | |
| Notes to the Financial Statements | 16 to | 30 |
| Detailed Statement of Financial Activities | 31 to | 32 |
| FOR T | HE YEAR E | NDED 31AUGUS | T 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||||
| Unrestricted | Restricted | Total | Total | ||||||
| funds | fund | funds | funds | ||||||
| Notes | E | E | E | E | |||||
| INCOME AND | ENDOWMENTS | FROM | |||||||
| Donations and |
legacies | 2 | 281,062 | 201,149 | 482,211 | 404,072 | |||
| Charitable activities |
|||||||||
| School Fees | 3,371,521 | 3,371,521 | 2,945,807 | ||||||
| Other ancillary | trading | income | 379,774 | 379,774 | 558,112 | ||||
| Investment income |
3 | 7,359 | 7,359 | 675 | |||||
| Total | 4,039,716 | 201,149 | 4,240,865 | 3,908,666 | |||||
| EXPENDITURE | ON | ||||||||
| Raising funds | 5 | 39,850 | 39,850 | 38,152 | |||||
| Charitable activities |
|||||||||
| Teaching costs | 2,552,262 | 2,552,262 | 2,490,268 | ||||||
| Welfare costs | 349,528 | 349,528 | 286,411 | ||||||
| Premises | 398,185 | 92,858 | 491,043 | 447,337 | |||||
| Management | and | administration | 767,457 | 38,608 | 806,065 | 590,382 | |||
| Total | 4,107,282 | 131,466 | 4,238,748 | 3,852,550 | |||||
| NET INCOME/(EXPENDITURE) | (67,566) | 69,683 | 2,117 | 56,116 | |||||
| Other recognised | gains/(lasses) | ||||||||
| Gains/(losses) | on | revaluation | offixed assets | (667,339) | (667,339) | ||||
| Net movement | in | funds | (734,905) | 69,683 | (665,222) | 56,116 | |||
| RECONCILIATION | OF FUNDS | ||||||||
| Total funds brought forward |
1,428,424 | 283,093 | 1,711,517 | 1,655,401 | |||||
| TOTAL FUNDS | CARRIED FORWARD | 693,519 | 352,776 | 1,046,295 | 1,711,517 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restncted | Total | Total | ||||
| funds | fund | funds | funds | ||||
| Notes | E | E | 6 | E | |||
| FIXEDASSETS | |||||||
| Tangible assets | 12 | 4,897,851 | 352,776 | 5,250,627 | 4,832,250 | ||
| CURRENTASSETS | |||||||
| Stocks | 13 | 55,405 | 55,405 | 67,408 | |||
| Debtors | 14 | 674,375 | 674,375 | 621,397 | |||
| Cash at bank and in hand | 208,247 | 208,247 | 60,130 | ||||
| 938,027 | 938,027 | 748,935 | |||||
| CREDITORS | |||||||
| Amounts falling due within one year |
15 | (4,222,987) | (4,222,987) | (2,784,822) | |||
| NET CURRENT | ASSETS | (3,284,960) | (3,284,960) | (2,035,887) | |||
| TOTAL ASSETS LESSCURRENT LIABIUTIES | 1,612,891 | 352,776 | 1,965,667 | 2,796,363 | |||
| CREDITORS | |||||||
| Amounts falling due after more than one year |
16 | (919,372) | (919,372) | (1,084,846) | |||
| NET ASSETS | 693,519 | 352,776 | 1,046,295 | 1,711,517 | |||
| FUNDS | 19 | ||||||
| Unrestricted funds: |
|||||||
| General fund |
(435,627) | (368,061) | |||||
| Revaluation | reserve | 1,129,146 | 1,796,485 | ||||
| 693,519 | 1,428,424 | ||||||
| Restricted funds: | |||||||
| School development | fund | 352,776 | 283,093 | ||||
| TOTAL FUNDS | 1,046,295 | 1,711,517 |
| CASH FLOW STATEMENT | ||||
|---|---|---|---|---|
| FOR THE YEAR ENDED 31AUGUST 2022 | ||||
| 2022 | 2021 | |||
| Notes | E | E | ||
| Cash flows from operating | activities | |||
| Cash generated from operations |
1,453,951 | 374,734 | ||
| Interest paid | (39,850) | (38,152) | ||
| Net cash provided by operating activities |
1,414,101 | 336,582 | ||
| Cash flows from investing | activities | |||
| Purchase oftangible fixed |
assets | (1,152,822) | (233,446) | |
| Net cash used in investing | activities | (1,152,822) | (233,446) | |
| Cash flows from financing | activities | |||
| Loan repayments | (133,569) | (58,337) | ||
| Finance lease capital repayments | (12,703) | (16,546) | ||
| New finance lease agreements | 33,110 | |||
| Net cash used in financing | activities | (113,162) | (74,883) | |
| Change in cash and cash equivalents | in the | |||
| reporting period |
148,117 | 28,253 | ||
| Cash and cash equivalents | atthe beginning | |||
| ofthe reporting period |
60,130 | 31,877 | ||
| Cash and cash equivalents | atthe end | of | ||
| the reporting period |
208,247 | 60,130 |
| RECONCILIA | TION O |
F NET INC | OME TO NET CASH FLOW FROM OPERATING A | CTIVITIES | |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| f | E | ||||
| Net income | for the | reporting | period (as per the Statement of Financial | ||
| Activities) | 2,117 | 56,116 | |||
| Adjustments | for: | ||||
| Depreciation | charges | 65,828 | 176,946 | ||
| Loss on disposal of | fixed assets | 1,278 | |||
| Interest paid | 39,850 | 38,152 | |||
| Decrease in | stocks | 12,003 | 4,996 | ||
| (Increase)/decrease | in debtors | (52,978) | 5,794 | ||
| Increase in creditors |
1,385,853 | 92,730 | |||
| Net cash provided | by operations | 1,453,951 | 374,734 |
| At 1/9/21 | Cash flow | At 31/8/22 | |
|---|---|---|---|
| E | E | f | |
| Net cash | |||
| Cash at bank and in hand | 60,130 | 148,117 | 208,247 |
| 60,130 | 148,117 | 208,247 | |
| Debt | |||
| Finance leases | (9,652) | (20,407) | (30,059) |
| Debts falling due within 1year | (112,471) | (50,279) | (162,750) |
| Debts falling due after 1year | (1,084,846) | 183,848 | (900,998) |
| (1,206,969) | 113,162 | (1,093,807) | |
| Total | (1,146,839) | 261,279 | (885,560) |
| DONATIONS AND LEGACIES |
||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| E | E | E | 6 | |
| Donations | 203,437 | 201,149 | 404,586 | 331,300 |
| Donated services and facilities | 77,625 | 77,625 | 72,772 | |
| 281,062 | 201,149 | 482,211 | 404,072 | |
| INVESTMENT INCOME | ||||
| 2022 | 2021 | |||
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| f | E | 6 | E | |
| Rents received | 7,359 | 7,359 | 675 |
| INCOME FROM | CHARITABLE | ACTIVITIES | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Activity | E | E | |||
| Gross fees | School Fees | 4,135,067 | 3,530,199 | ||
| Total bursaries | and | ||||
| allowances | School Fees | (763,546) | (584,392) | ||
| Minibus income | Other ancillary trading | income | 190,304 | 100,507 | |
| Income from school shops | Other ancillary trading | income | 50,945 | 45,684 | |
| Sundry income | Other ancillary trading | income | 138,525 | 411,921 | |
| 3,751,295 | 3,503,919 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| E | E | E | f | ||
| Interest payable and similar charges | 39,850 | 39,850 | 38,152 | ||
| CHARITABLE ACTIVITIES COSTS | |||||
| Support | |||||
| Direct | costs (see | ||||
| Costs | note 7) | Totals | |||
| E | E | E | |||
| Teaching costs | 2,552,262 | 2,552,262 | |||
| Welfare costs | 349,528 | 349,528 | |||
| Premises | 491,043 | 491,043 | |||
| Management | and administration | 795,232 | 10,833 | 806,065 | |
| 4,188,065 | 10,833 | 4,198,898 |
| 2022 | 2021 | ||
|---|---|---|---|
| E | E | ||
| Auditors' | remuneration | 10,833 | 10,200 |
| Depreciation —owned assets |
65,828 | 176,946 | |
| Other operating leases |
1,225 | 842 | |
| Deficit on | disposal offixed assets | 1,278 |
| STAFF | COSTS | ||
|---|---|---|---|
| 2022 | 2021 | ||
| 6 | 6 | ||
| Wages | and salaries | 2,405,887 | 2,265,344 |
| Social | security costs | 226,098 | 202,024 |
| Other | pension costs | 363,144 | 356,491 |
| 2,995,129 | 2,823,859 |
| 2022 | 2021 | ||
|---|---|---|---|
| Teachers | 41 | 38 | |
| Administration | 13 | 9 | |
| Learning support | 17 | 14 | |
| Catering | 6 | 5 | |
| Domestic and | Laundry | 6 | 3 |
| Maintenance | and groundsmen | 3 | 3 |
| Drivers | 6 | 4 | |
| Nursery assistants | 2 | 3 | |
| 94 | 79 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| E60,001 —E70,000 | 1 | 2 | |||||
| E90,001 - E100,000 | 1 | ||||||
| E110,000 —E120,000 | |||||||
| 11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
||||||
| Unrestricted | Restricted | Total | |||||
| funds | fund | funds | |||||
| f | E | f | |||||
| INCOME AND | ENDOWMENTS | FROM | |||||
| Donations and |
legacies | 222,774 | 181,298 | 404,072 | |||
| Charitable activities |
|||||||
| School Fees | 2,945,807 | 2,945,807 | |||||
| Other ancilliary | trading | income | 558,112 | 558,112 | |||
| Investment income |
675 | 675 | |||||
| Total | 3,727,368 | 181,298 | 3,908,666 | ||||
| EXPENDITURE | ON | ||||||
| Raising funds | 38,152 | 38,152 | |||||
| Charitable activities |
|||||||
| Teaching costs | 2,490,268 | 2,490,268 | |||||
| Welfare costs | |||||||
| 286,411 | 286,411 | ||||||
| Premises | 414,950 | 32,387 | 447,337 | ||||
| Management | and administration | 552,159 | 38,223 | 590,382 | |||
| Total | 3,781,940 | 70,610 | 3,852,550 |
| FOR THE YEAR ENDED 31AUGUST | FOR THE YEAR ENDED 31AUGUST | FOR THE YEAR ENDED 31AUGUST | FOR THE YEAR ENDED 31AUGUST | FOR THE YEAR ENDED 31AUGUST | 2022 | ||
|---|---|---|---|---|---|---|---|
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
- continued | ||||||
| Unrestricted | Restricted | Total | |||||
| funds | fund | funds | |||||
| E | f | E | |||||
| NET INCOME/(EXPENDITURE) | (54,572) | 110,688 | 56,116 | ||||
| RECONCIUATION OF FUNDS |
|||||||
| Total funds brought | forward | 1,482,996 | 172,405 | 1,655,401 | |||
| TOTAL FUNDS CARRIED FORWARD | 1,428,424 | 283,093 | 1,711,517 | ||||
| TANGIBLE FIXEDASSETS | |||||||
| Assets | in | ||||||
| the | Fixtures | ||||||
| Freehold | course | of | and | Motor | |||
| property f |
construction E |
fittings E |
vehicles E |
Totals E |
|||
| COST | |||||||
| At 1September 2021 | 4,492,201 | 199,541 | 865,141 | 56,885 | 5,613,768 | ||
| Additions | 1,870 | 973,728 | 163,044 | 14,180 | 1,152,822 | ||
| Disposals | (2,976) | (2,976) | |||||
| Impairments | (667,339) | (667,339) | |||||
| At 31August 2022 | 3,826,732 | 1,173,269 | 1,025,209 | 71,065 | 6,096,275 | ||
| DEPRECIATION | |||||||
| At 1September 2021 | 732,563 | 48,955 | 781,518 | ||||
| Charge for year | 62,907 | 2,921 | 65,828 | ||||
| Eliminated on disposal |
(1,698) | (1,698) | |||||
| At 31August 2022 | 793,772 | 51,876 | 845,648 | ||||
| NET BOOK VALUE | |||||||
| At 31August 2022 | 3,826,732 | 1,173,269 | 231,437 | 19,189 | 5,250,627 | ||
| At 31August 2021 | 4,492,201 | 199,541 | 132,578 | 7,930 | 4,832,250 |
| 2022 | 2021 |
|---|---|
| E | E |
| 55,405 | 67,408 |
| DEBTORS:AM | OUNTS | FA | LUNG DUE WITHIN ONE YEAR | ||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| E | E | ||||||
| Trade debtors | 619,758 | 501,547 | |||||
| Other debtors | 7,364 | 55,385 | |||||
| Prepayments | and accrued | income | 47,253 | 64,465 | |||
| 674,375 | 621,397 | ||||||
| CREDITORS: AMOUNTS | FALUNG DUE WITHIN ONE YEAR | ||||||
| 2022 | 2021 | ||||||
| E | f | ||||||
| Bank loans and | overdrafts | (see note 17) | 162,750 | 112,471 | |||
| Hire purchase | (see note | 18) | 11,685 | 9,652 | |||
| Trade creditors | 330,032 | 61,145 | |||||
| Social security | and other | taxes | 54,714 | 86,058 | |||
| Other creditors | 2,119,417 | 1,256,679 | |||||
| Accruals and | deferred | income | 1,544,389 | 1,258,817 | |||
| 4,222,987 | 2,784,822 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| E | E | |||
| Bank loans | (see note 17) | 900,998 | 1,084,846 | |
| Hire purchase (see note 18) | 18,374 | |||
| 919,372 | 1,084,846 | |||
| LOANS | ||||
| An analysis | ofthe maturity | of loans is given below: | ||
| 2022 | 2021 | |||
| E | E | |||
| Amounts falling due within |
one year on demand: | |||
| Bankloans | 162,750 | 112,471 | ||
| Amounts falling between one and two years: |
||||
| Bank loans | - 1-2years | 162,750 | 112,471 | |
| Amounts falling due between two and Rve years: |
||||
| Bank loans | - 2-5years | 354,387 | 337,414 | |
| Amounts falling due in more than five years: |
||||
| Repayable | by instalments: | |||
| Bank loans | more 5 yr by instal | 383,861 | 634,961 |
| Hire purchase | contracts | ||
|---|---|---|---|
| 2022 | 2021 | ||
| E | E | ||
| Gross obligations | repayable: | ||
| Within one year | 13,218 | 9,652 | |
| Between one and five years | 20,801 | ||
| 34,019 | 9,652 | ||
| Finance charges | repayable: | ||
| Within one year | 1,533 | ||
| Between one and five years | 2,427 | ||
| 3,960 | |||
| Net obligations | repayable; | ||
| Within one year | 11,685 | 9,652 | |
| Between one and five years | 18,374 | ||
| 30,059 | 9,652 |
| Non-cancellable | operating | |
|---|---|---|
| leases | ||
| 2022 | 2021 | |
| 6 | E | |
| Within one year | 90,102 | 63,115 |
| Between one and five years | 156,890 | 169,460 |
| 246,992 | 232,575 |
| MOVEMENT | IN FUN | DS | |||
|---|---|---|---|---|---|
| Net | |||||
| movement | At | ||||
| At 1/9/21 | in funds | 31/8/22 | |||
| E | E | E | |||
| Unrestricted | funds | ||||
| General fund | (368,061) | (67,566) | (435,627) | ||
| Revaluation | reserve | 1,796,485 | (667,339) | 1129146 | |
| 1,428,424 | (734,905) | 693,519 | |||
| Restricted funds | |||||
| School development | fund | 283,093 | 69,683 | 352,776 | |
| TOTAL FUNDS | 1,711,517 | (665,222) | 1,046,295 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources f |
expended E |
losses 6 |
in funds E |
|||
| Unrestricted | funds | |||||
| General fund | 4,039,716 | (4,107,282) | (67,566) | |||
| Revaluation | reserve | (667,339) | (667,339) | |||
| 4,039,716 | (4,107,282) | (667,339) | (734,905) | |||
| Restricted funds | ||||||
| School development | fund | 201,149 | (131,466) | 69,683 | ||
| TOTAL FUNDS | 4,240,865 | (4,238,748) | (667,339) | (665,222) |
| 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 | |
| TOTALFUNDS | 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 1/9/20 | in funds | 31/8/22 | |||
| f | f | 6 | |||
| Unrestricted | funds | ||||
| Generalfund | (313,489) | (122,138) | (435,627) | ||
| Revaluation | reserve | 1,796,485 | (667,339) | 1,129,146 | |
| 1,482,996 | (789,477) | 693,519 | |||
| Restricted funds | |||||
| School development | fund | 172,405 | 180,371 | 352,776 | |
| TOTAL FUNDS | 1,655,401 | (609,106) | 1,046,295 |
| Incoming | Resources | Gains and | Movement | ||||
|---|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||||
| 6 | 6 | E | E | ||||
| Unrestricted | funds | ||||||
| General | fund | 7,767,084 | (7,889,222) | (122,138) | |||
| Revaluation | reserve | (667,339) | (667,339) | ||||
| 7,767,084 | (7,889,222) | (667,339) | (789,477) | ||||
| Restricted funds | |||||||
| School | development | fund | 382,447 | (202,076) | 180,371 | ||
| TOTAL | FUNDS | 8,149,531 | (8,091,298) | (667,339) | (609,106) |
| (2021:E16423) and at the year end E4983(2021:f5 786) was accrued | (2021:E16423) and at the year end E4983(2021:f5 786) was accrued | in respect ofcontribution | s. |
|---|---|---|---|
| CAPITAL COMMITMENTS | |||
| 2022 | 2021 | ||
| E | f | ||
| Contracted | but not provided for in the financial statements | 66,593 | 700,459 |
| FOR THE YEAR ENDED | 31AUGUST 2022 | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| E | E | ||||
| INCOME AND ENDOWMENTS | |||||
| Donations and | legacies | ||||
| Donations | 404,586 | 331,300 | |||
| Donated services and facilities | 77,625 | 72,772 | |||
| 482,211 | 404,072 | ||||
| Investment income |
|||||
| Rents received | 7,359 | 675 | |||
| Charitable activities |
|||||
| Gross fees | 4,135,067 | 3,530,199 | |||
| Total bursaries | and | allowances | (763,546) | (584,392) | |
| Minibus income | 190,304 | 100,507 | |||
| Income from school | shops | 50,945 | 45,684 | ||
| Sundry income | 138,525 | 411,921 | |||
| 3,751,295 | 3,503,919 | ||||
| Total incoming | resources | 4,240,865 | 3,908,666 | ||
| EXPENDITURE | |||||
| Investment management |
costs | ||||
| Bank interest and charges | 14,641 | 7,525 | |||
| Mortgage interest | 25,209 | 27,033 | |||
| Otherlnterest | 3,594 | ||||
| 39,850 | 38,152 | ||||
| Charitable activities |
|||||
| Staff costs | 2,405,887 | 2,265,344 | |||
| Social security | 226,098 | 202,024 | |||
| Pensions | 363,144 | 356,491 | |||
| Other operating | leases | 1,225 | 842 | ||
| Rates and water | 29,029 | 28,265 | |||
| Insurance | 49,878 | 45,193 | |||
| Light and heat | 75,434 | 79,875 | |||
| Telephone | 3,403 | 2,991 | |||
| Postage and stationery | 23,283 | 24,755 | |||
| Advertising | 46,137 | 25,908 | |||
| Sundries | 2,452 | 3,056 | |||
| Teaching resources | 129,879 | 90,809 | |||
| Purchases | 122,461 | 106,860 | |||
| Staff and Governor | training | 8,972 | 3,575 | ||
| Carried forward | 3,487,282 | 3,235,988 |
| FOR THE YEAR ENDED | 31AUGUST 2022 | ||
|---|---|---|---|
| 2022 | 2021 | ||
| E | E | ||
| Charitable activities |
|||
| Brought forward | 3,487,282 | 3,235,988 | |
| Maintenance and repairs |
170,059 | 71,010 | |
| Motor expenses | 111,443 | 80,145 | |
| Subscriptions | 24,229 | 10,093 | |
| Legal fees | 2,167 | 1,577 | |
| Professional fees |
81,976 | 47,622 | |
| Lease costs | 45,963 | 53,290 | |
| Bad debts | 81,607 | 16,532 | |
| Computer expenses |
38,608 | 38,223 | |
| Finance, ITand design services |
77,625 | 72,772 | |
| Fixtures and fittings | 62,907 | 170,617 | |
| Motor vehicles | 2,921 | 6,329 | |
| Loss on sale oftangible | fixed assets | 1,278 | |
| 4,188,065 | 3,804,198 | ||
| Support costs | |||
| Governance costs |
|||
| Auditors' remuneration |
10,833 | 10,200 | |
| Total resources expended | 4,238,748 | 3,852,550 | |
| Net income | 2,117 | 56,116 |