2023-08-31-accounts - Gosfield School Limited

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		Page
Report ofthe Trustees	1	to	8
Report ofthe Independent Auditors	9	to	12
Statement ofFinancial Activities
Balance Sheet		14
Cash Flow Statement
Notes tothe Cash Flow Statement		16
Notes tothe Financial Statements	17	to	32
Detailed Statement of Financial Activities	33	to	34

			FOR T	HE YEAR	ENDED 31AUGUS	T 2023
							2023	2022
					Unrestricted	Restricted	Total	Total
					funds	fund	funds	funds
				Notes	f	f	f	f
INCOME AND	ENDOWMENTS		FROM
Donations and	legacies				61,165	254,503	315,668	482,211
Charitable activities
School Fees					4,252,446		4,252,446	3,371,521
Other ancilliary	trading income				395,054		395,054	379,774
Investment income					16,034		16,034	7,359
Total					4,724,699	254,5Q3	4,979,202	4,240,865
EXPENDITURE	ON
Raising funds					76,554		76,554	39,850
Charitable activities
School Fees					15,000		15,QOO
Teaching costs					2,954,141		2,954,141	2,552,262
Welfare costs					421,005		421,005	349,528
Premises					446,500	49,939	496,439	491,043
Management	and	administration			802,439	32,968	835,407	806,065
Total					4,715,639	82,907	4,798,546	4,238,748
NET INCOME					9,060	171,596	180,656	2,117
Other recognised		gains/(losses)
Gains/(losses)	on	revaluation	offixed assets		14,567,495		14,567,495	(667,339)
Net movement	in	funds			14,576,555	171,596	14,748,151	{665,222)
RECONCILIATION		OF FUNDS
Total funds brought forward					693,519	352,776	1,046,295	1,711,517
TOTAL FUNDS	CARRIED FORWARD				15,270,074	524,372	15,794,446	1,046,295

						2023	2022
				Unrestricted	Restricted	Total	Total
				funds	fund	funds	funds
			Notes	E	E	E	E
FIXEDASSETS
Tangible assets			12	19,876,855	524,372	20,401,227	5,250,627
CURRENT ASSETS
Stocks			13	60,161		60,161	55,405
Debtors			14	958,199		958,199	674,375
Cash in hand				4,436		4,436	208,247
				1,022,796		1,022,796	938,027
CREDITORS
Amounts falling due within one year			15	(4,866,312)		(4,866,312)	(4,222,987)
NET CURRENT	ASSETS			(3,843,516)		(3,843,516)	(3,284,960}
TOTAL ASSETS LESSCURRENT LIABILITIES				16,033,339	524,372	16,557,711	1,965,667
CREDITORS
Amounts falling due after more than one year			16	(763,265)		(763,265)	(919,372}
NET ASSETS				15,270,074	524,372	15,794,446	1,046,295
FUNDS			19
Unrestricted funds:
General fund						(426,567)	(435,627)
Revaluation	reserve					15,696,641	1,129,146
						15,270,074	693,519
Restricted funds:
School development		fund				524,372	352,776
TOTAL FUNDS						15,794,446	1,046,295

				CASH FLOW STATEMENT
			FOR	THE YEAR ENDED 31AUGUST	2023
			Notes		2023 f	2022f
Cash flows from operating	activities
Cash generated from operations					216,371	607,223
Interest paid					(76,554)	(39,850)
Net cash provided by operating activities					139,817	567,373
Cash flows from investing	activities
Purchase oftangible fixed	assets				(673,568)	(1,152,822)
Net cash used in investing	activities				(673,568)	(1,152,822)
Cash flows from financing	activities
Loan repayments					(134,059)	(133,569)
Finance lease capital repayments New finance lease agreements					(17,405) 31.371	(12„703) 33,110
Movement in amounts to	GFM Holdings		Ltd		322,595	846,728
Net cash provided by financing activities					202,502	733,566
Change in cash and cash	equivalents	in the
reporting period					(331,249)	148,117
Cash and cash equivalents	atthe beginning
ofthe reporting period					208,247	60,130
Cash and cash equivalents	atthe end	of
the reporting period					(123,002)	208,247

	RECONCILIATION OF NET INCOME TO NET CASH	RECONCILIATION OF NET INCOME TO NET CASH	RECONCILIATION OF NET INCOME TO NET CASH	RECONCILIATION OF NET INCOME TO NET CASH	FLOW FROM OPERATING ACTIVITIES	FLOW FROM OPERATING ACTIVITIES
						2023	2022
						E	E
	Net income for the	reporting		period (asper the	Statement of Financial
	Activities)					180,656	2,117
	Adjustments for:
	Depreciation charges					90,463	65,828
	Loss on disposal of	fixed assets					1,278
	Interest paid					76,554	39,850
	(Increase)/decrease		in stocks			(4,756)	12,003
	Increase in debtors					(283,824}	(52,978)
	Increase in creditors					157,278	539,125
	Net cash provided	by operations				216,371	607,223
2.	ANALYSIS OF CASH	AND CASH EQUIVALENTS
						2023	2022
						E	E
	Cash at bank and in		hand			4,436	208,247
	Overdrafts included		in bank	loans and overdrafts	falling due within one year	(127,438)
	Total cash and cash		equivalents			(123,002}	208,247

	At 1/9/22	Cash flow	At 31/8/23
	E	E	E
Net cash
Cash at bank and in hand	208,247	(203,811)	4,436
Bank overdraft		(127,438)	(127,438)
	208,247	(331,249)	(123,002)
Debt
Finance leases	(30,059)	(13,966)	(44,025)
Debts falling due within 1year	(162,750}	{29,633}	(192,383)
Debts falling due after 1year	{900,998)	163,692	(737,306)
	(1,093,807)	120,093	(973,714)
Total	(885.560)	(211,156)	(1,996,716)

DONATIONS AN	D LEGACIES
						2023	2022
		Unrestricted			Restricted	Total	Total
			funds		funds	funds	funds
			E		E	f	E
Donations				2	254,503	254,505	404,586
Donated services and facilities			61,163			61,163	77,625
			61,165		254,503	315,668	482,211
INVESTMENT INCOME
						2023	2022
		Unrestricted			Restricted	Total	Total
			funds		funds	funds	funds
			f		f	f	E
Rents received			16,034			16,034	7,359
INCOME FROM	CHARITABLE ACTIVITIES
						2023	2022
		Activity				f	f
Gross fees		School Fees				5,206,548	4,135,067
Total bursaries	and allowances	School Fees				(954,102)	(763,546)
Minibus income		Other ancilliary	trading	income		275,412	190,304
Income from school shops		Other ancilliary	trading	income		43,840	50,945
Sundry income		Other ancilliary	trading	income		75,802	138,525
						4,647,500	3,751,295

							2023	2022
					Unrestricted	Restricted	Total	Total
					funds	funds	funds	funds
					f	f	f	f
Interest	payable	and	similar	charges	76,554		76,554	39,850

CHARITABLE	ACTIVITIES COSTS
			Support
		Direct	costs (see
		Costs	note 7)	Totals
		f	f	f
School Fees		15,000		15,000
Teaching costs		2,954,141		2,954,141
Welfare costs		421,005		421,005
Premises		496,439		496,439
Management	and administration	826,900	8,507	835,407
		4,713,485	8,507	4,721,992

2023	2022
Governance	Governance
cos'ts	costs
f	f
8,507	10,833

		2023	2022
		f	f
Auditors'	remuneration	8,507	10,833
Depreciation -owned assets		90,463	65,828
Other operating leases		836	1,225
Deficit on	disposal offixed assets		1,278

STAFF	COSTS
		2023	2022
		E	E
Wages	and salaries	2,790,810	2,405,887
Social	security costs	265,429	226,09&
Other	pension costs	399,621	363,144
		3,455,860	2,995,129

The average	monthly number ofemployees during the ye	ar was as follows:
		2023	2022
Teachers		46	41
Administration		12	13
Learning support		17	17
Catering		6	6
Domestic and	Laundry	5	6
Maintenance	and groundsmen	3	3
Drivers		6	6
Nursery assistants		5	2
		100

		2023	2022
E60,001	- E70,000	2	1
E80,001	—E90,000	1
E90,001	- E100,000	1

				Unrestricted	Restricted	Total
				funds	fund	funds
				E	E	E
INCOME AND	ENDOWMENTS		FROM
Donations and	legacies			281,062	201,149	482,211
Charitable activities
School Fees				3,371,521		3,371,521
Other ancilliary	trading	income		379,?74		379,774
Investment income				7,359		7,359
Total				4,039,716	201,149	4,240,865
EXPENDITURE	ON
Raising funds				39,850		39,850
Charitable activities
Teaching costs				2,552,262		2,552,262
Welfare costs				349,528		349,528
Premises				398,185	92,858	491,043
Management and administration				767,457	38,608	806,065
Total				4,107,282	131,466	4,238,748
NET INCOIVIE/{EXPENDITURE)				(67,566)	69,683	2,117
Other recognised gains/(losses)
Gains/(losses)	on revaluation		offixed assets	(667,339)		(667,339)
Net movement	in funds			(734,905)	69,683	(665,222)
RECONCILIATION OF FUNDS
Total funds brought forward				1,428,424	283,093	1,711,517
TOTAL FUNDS	CARRIED	FORWARD		693,519	352,776	1,046,295

		GOSFIELD	SCHOOL UMITED	SCHOOL UMITED
		NOTES TO THE FINANCIAL STATEMENTS			- continued
		FOR THE YEAR	ENDED 31AUGUST		2023
12.	TANGIBLE FIXEDASSETS
				Assets in
		Freehold		the	Fixtures
		land and		course of	and	Motor
		buildings E		construction f	fittings f	vehicles f	Totals f
	COSTOR VALUATION
	At 1September 2022	3,S26,732		1,173,269	1,025,209	71,065	6,096,275
	Additions	483,251		75,578	114,739		673,568
	Revaluations	14,567,495					14,567,495
	Reciassification	1,248,847	(1,248,84?)
	At31August 2023	20,126,325			1,139,948	71,065	21,337,338
	DEPRECIATION
	At 1September 2022				793,772	51,876	845,648
	Charge for year				S5,223	5,240	90,463
	At31August 2023				878,995	57,116	936,111
	NET BOOK VALUE
	At 31August 2023	20,126,325			260,953	13,949	20,401,227
	At 31August 2022	3,826,732		1,173,269	231,437	19,189	5,250,627
	Cost or valuation at 31August 2023 is represented			by:
				Freehold	Fixtures
				land and	and	Motor
				buildings E	fittings f	vehicles f	Totals f
	Valuation in 2009			1,278,246	85,092	19,200	1,382,538
	Valuation in 2013			793,508	157,558	25,640	976,706
	Valuation in 2016			1,199,843	360,417		1,560,260
	Valuation in 2019			1,203„403	251,938	705	1,456,046
	Valuation in 2021			216,742	7,160	11,340	235,242
	Valuation in 2022			(865,010)	163,044	14,180	(687,786)
	Valuation in 2023		16,299,593		114,739		16,414,332
			20,126,325		1,139,948	71,065	21,337,338

13.	STOCKS
							2023	2022
							f	E
	Finished goods						60,161	55,405
	The amount of		stock	recognised as an expense			in the year was f128,426 (2022:f110,518).
14.	DEBTORS:AMOUNTS			FALLING DUE WITHIN ONE YEAR
							2023	2022
							E
	Trade debtors						848,653	619,758
	Other debtors						4,179	7,364
	Prepayments	and accrued				income	105,367	47,253
							958,199	674,375
15.	CREDITORS: AMOUNTS				FALLING DUE WITHIN		ONE YEAR
							2023	2022
							E	E
	Bank loans and		overdrafts			(see note 17)	319,821	162,750
	Hire purchase		(see note		18)		18,066	11,685
	Trade creditors						112,297	330,032
	Socia( security		and other			taxes	57,139	54,714
	Other creditors						2,540,079	2,119,417
	Accruals and	deferred		income			1,818,910	1,544,389
							4,866,312	4,222,987

	Income relating	the Autumn	the Autumn
16.	CREDITORS: AMOUNTS		FALLING DUE AFTER MORE THAN ONE YEAR
				2023	2022
					E
	Bank loans (see note 17)			737,306	900,998
	Hire purchase	(see note	18)	25,959	18,374
				763,265	919,372

		2023	2022
		f	f
Amounts falling due within one year on demand:
Bank overdrafts		127,438
Bank loans		192,383	162,750
		319,821	162,750
Amounts falling between	one and two years:
Bank loans - 1-2years		192,383	162,750
Amounts falling due between two and five years:
Bank loans -2-5 years		339,721	354,382
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5yr by	instal	205,202	383,861

Minimum lease	payments fall due as follows:
		Hire purchase	contracts
		2023	2022
		f	f
Gross obligations	repayable:
Within one year		21,334	13,218
Between one and five years		32,058	20,801
		53,392	34,019
Finance charges	repayable:
Within one year		3,268	1,533
Between one and five years		6,099	2,427
		9,367	3,960
Net obligations	repayable:
Within one year		18,066	11,685
Between one and five years		25,959	18,374
		44,025	30,059

expenditure account on a straight line basis over the ter	m ofthe lease.
	Non-cancellable	operating
	leases
		2022
		E
Within one year		90,102
Between one and five years		156,890
	209,287	246,992

MOVEMENT	IN FUN	DS
				Net
				movement	At
			At 1/9/22	in funds	31/8/23
			E		E
Unrestricted	funds
General fund			(435,627)	9,060	(426,567)
Revaluation	reserve		1,129,146	14,567,495	15,696,641
			693,519	14,576,555	15,270,074
Restricted funds
School development		fund	352,776	171,596	524,372
TOTAL FUNDS			1,046,295	14,749,151	15,794,446

				Incoming	Resources	Gains and	Movement
				resources f	expended f	losses f	in funds 'f
Unrestricted		funds
General	fund			4,724,699	(4,715,639)		9,060
Revaluation		reserve				14,567,495	14,567,495
				4,724,699	(4,715,639)	14,567,495	14,576,555
Restricted funds
School	development		fund	254,503	(82,907)		171,596
TOTAL	FUNDS			4,979,202	(4,798,546)	14,567,495	14,748,151

				Net
				movement	At
			At 1/9/21	in funds	31/8/22
			f	f	f
Unrestricted	funds
General fund			(368,061)	(67,566)	(435,627)
Revaluation	reserve		1,796,485	(667,339)	1,129,146
			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 f	losses f	in funds f
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,S65	(4,238,748)	(667,339)	(665,222)

					Net
					movement	At
				At 1/9/21	in funds	31/8/23
				f	f	f
Unrestricted		funds
General	fund			(368,061)	(58,506)	(426,567)
Revaluation		reserve		1,796,485	13,900,156	15,696,641
				1,428,424	13,841,650	15,270,074
Restricted funds
School	development		fund	283,093	241,279	524,372
TOTAL	FUNDS			1,711,517	14,082,929	15,794,446

			Incoming	Resources	Gains and	Movement
			resources f	expended f	losses f	in funds f
Unrestricted	funds
General fund			8,764,415	(8,822,921)		(58,506)
Revaluation	reserve				13,900,156	13,900,156
			8,764,415	(8,822,921)	13,900,156	13,841,650
Restricted funds
School development		fund	455,652	(214,373)		241,279
TOTAL FUNDS			9,220,067	(9,037,294)	13,900,156	14,082,929

CAPITAL C	OMM	ITM	ENTS
									2023	2022
									E	E
Contracted	but	not	provided	for	in	the	financial	statements		66,593

			DETAILED STATEMENT OF FINANCIAL ACTIVITIES
			FOR THE YEAR ENDED 31AUGUST 2023
				2023 f	2022f
INCOME AND ENDOWMENTS
Donations and	legacies
Donations				254,505	404,586
Donated services and facilities				61,163	77,625
				315,668	482,211
Investment income
Rents received				16,034	7,359
Charitable activities
Gross fees				5,206,548	4,135,067
Total bursaries	and allowances			(954,102)	(763,5463
Minibus income				275,412	190,304
Income from school shops				43,840	50,945
Sundry income				75,802	138,525
				4,647,500	3,751,295
Total incoming	resources			4,979,202	4,240,865
EXPENDITURE
Investment management		costs
Bank interest and charges				21,491	14,641
Mortgage interest				51,748	25,209
Other Interest				3,315
				76,554	39,850
Charitable activities
Staff costs				2,790,810	2,405,887
Social security				265,429	226,098
Pensions				399,621	363,144
Other operating	leases			836	1,225
Rates and water				17,594	29,029
Insurance				55,484	49,878
Light and heat				213,062	75,434
Telephone				1,608	3,403
Postage and stationery				26,600	23,283
Advertising				57,320	46,137
Sundries				4,587	2,452
Teaching resources				167,125	129,879
Purchases				133,182	122,461
Staff and Governor training				5,920	8,972
Carried forward				4,139,178	3,487,282

FOR THE YEAR ENDED 3	1AUGUST 2023
	2023	2022
	f	f
Charitable activities
Brought forward	4,139,178	3,487,282
Maintenance and repairs	96,533	170,059
Motor expenses	145,081	111,443
Subscriptions	23,235	24,229
Legal fees	2,653	2,167
Professional fees	61,242	81,976
Lease costs	45,969	45,963
Bad debts	15,000	81,607
Computer expenses	32,968	38,60S
Finance, ITand design services	61,163	77,625
Depreciation: Fixtures and fittings	85,223	62,907
Depreciation: Motor vehicles	5,240	2,921
Loss on sale oftangible fixed assets		1,278
	4,713,485	4,188,065
Support costs
Governance costs
Auditors' remuneration	8,507	10,833
Total resources expended	4,798,546	4,238,748
Net income	180,656	2,117