2023-08-31-accounts - Edge Grove School Trust Ltd

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rs									Mr C H J Clayden (Chair) (resigned 02 February 2024)	Mr C H J Clayden (Chair) (resigned 02 February 2024)	Mr C H J Clayden (Chair) (resigned 02 February 2024)
									Mr D A EWilliams (Interim Chair)
									Mr I5 Elliott (resigned 06 December		2022)
									Mr D G Emkes
									Ms AJGodfrey
									Mr P A Kendag (Deputy Chair)
									Mr2Khawaja
									Mr C E Ligey
									Mrs 5 O'Sullivan
									Mr AJ Robson
									Mr I A Sheldon
									Mr J LStevens
									Mr IWTwaddle
									Mrs 5 Maughan (appointed 05 December 2023)
									Mrs W Kent (appointed 20January 2024)
na	gement		Personnel
								Head	Mr EBalfour (appointed 1Jan 2023)
	Interim		Head		and	Deputy Head Pastoral			IVlr RJ PStanley (Interim	Head 01July 2022to31December 2022
									and interim Deputy Head	01January	2023to31August 2023)
			Senior Deputy				Head (Academic)		Ms J Leighton
				Bursar		BCompany Secretary			Mrs G P Dippenaar
					Deputy		Head (Academic)		Ms L EO'Hare (resigned 31Aug 2023)
	Assistant				Head (Junior			Department)	Mrs EBalfour (appointed	01Apr 2023)
						Head	of	Upper School	Ms A M Warren (resigned	31Aug 2023)
			Assistant			Head	(Middle School)		Mrs 5 Robinson (resigned	29th February 2024)
	Assistant			Head		(Digital Development)			Mr I Kay
	Director			of	Marketing		and Admissions		Mrs P Hopkins (appointed	01July 2023)
			Assistant Head (Co-Curricular)						Mr 3McManus
Assistant		Head		(Marketing			and Admissions)		Gill Emme rson (01Sept 2022-31Aug 2023)
N	umber								311054
	Number								947085
ed	Office	&Principal Address							Edge Grove School
									Aldenham Village
									Watford
									Hertfordshire
									WD25 BNL

			Page
Governors' Report (incorporating		the Strategic Report)	1-9
Statement ofGovernors'	Responsibilities		10
Auditor's Report			11-14
Consolidated Statement	of Financial Activities		15
Consolidated Balance Sheet			16
School Balance Sheet			17
Consolidated Cash Flow	Statement		18
Notes to the Financial Statements			19-30

Confidence	Unity	Creativity	Kindness
Passion	Responsibility	Integrity	Respect
Determination	Risk-taking	Trust	Humility
Diversity	Sportsmanship	Empathy	Tolerance

FORTHE YE	AR ENDED 31A	UGUST 2	023
		Notes	Unrestricted	Designated	Restricted	Total	Total
			Fundsf	Funds 6	Funds 6	2023 6	2022 5
INCOMEFROM:
Donations, grants and legacies		6	15,178	1,397		16,575	48,349
Other trading activities		7	120,790			120,790	127,693
Investments		8	47,371			47,371	3,543
Charitable activities		9	6,943,996			6,943,996	7,638,902
Other income		10	20738			20 738	18207
Total income			7,148,073	1,397		7,149,470	7,836,694
EXPENDITURE	ON:
Raising funds			166,864			166,864	107,895
Charitable activities			7,320,973	10,737	2,970	7434,680	7,301,167
Total expenditure			7,487,837	10.737	2,970	7,501,544	7,409,062
Net income			(339,764)	(9,340)	(2,970)	(352„074)	427,632
Fund balances	brought forward	26	7,586,012	28,673	5.346	7,620,031	7,192,399
Fund balances	carried forward	26	7,246,248	19,333	2,376	7,267,957	7,620,031

	Notes	2023		2022
FIXEDASSETS
Tangible Assets	14	10,117,504		10,363,358
Investments	15	172,531		194,325
			10,290,035		10,557,683
CURRENT ASSETS
Stock		37,828		38,555
Debtors	17	213,224		243,805
Cash at bank and in hand		647,058		1,002,848
		898,110		1,285,208
CURRENT UABILITIES
Creditors due within one year	18	3,252,596		(1,362,003)
NET CURRENT ASSETS			2,354,486		(76,7951
TOTAL ASSETSLESSCURRENT	LIABILITIES		7,935,549		10,480,888
LONG TERM LIABIUTIES
Creditors due after one year	19		(668,343)		(2,861,365)
NET ASSETS			7,267,206		7,619,523
REPRESENTED BY:
RESTRICTED FUNDS			2,3T6		5,346
UNRESTRICTED FUNDS
Generalfunds		7,245,497		7,595,504
Designated funds		19,333		28,673
			7,264,830		7,614,177
			7,267,206		7,619,523

				2023		2022
				5		5	5
Cash flows from operating activities:
Net income/expenditure for the year Adjustments for:				(352,074)		427,632
Depreciation charges			14	405,?84		441,237
Goodwill amortisation Dividends, interest and rents from investments Finance charges				21,464 (47,371) 166.864		21,464 (3,543) 107,895
(Increase)/decrease in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors			17 18,19	727 30,581 70,512		(32,822) 57,991
Net cash provided by operating activities					296,487		558,138
Cash flows from investing activities:
Dividends, interest and rents from investments Finance charges Purchase oftangible fixed assets			14	47,371 (166,864)		3,543 (107,895)
Net cash used in investing activities					(279,336)		(546,304)
Cash flows from financing activities:
New finance leases				5,940		19,094
Capital element of hire purchase snd finance leases Repayments ofborrowing				(14,258)		(37,038)
Net cash provided by financing activities					(372,941)		(425,185)
Change in cash and cash equivalents	in the	year			(355,790)		(414,351)
Cash and cash equivalents atthe beginning		ofthe	year		1,002,848		1,417,199
Cash and cash equivalents atthe end	ofthe year				647,058		1,002,848
Analysis ofcash and cash equivalents
Cash at bank and in hand Total cash and cash equivalents					647,058 647,058		1,002,848 1,002,848

Tangible fixed assets and depreciation	Tangible fixed assets and depreciation	Tangible fixed assets and depreciation	Tangible fixed assets and depreciation	Tangible fixed assets and depreciation	Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cast less depreciation. Depreciation is provided rates calculated to write offthe cost less estimated residual value ofeach asset over its expected useful life follows:						at as
Freehold land is not depreciated
Freehold buikfings			2% straight line
Leasehold buildings			2% straight line
Fixtures, fittings and equipment			10%and 25%straight	line
(including ITequipment	at 25%straight line)
Motor vehicles			25%straight line
Leasehold improvements			5%straight line
Minor items ofcapital expenditure		are written	offto the Statement of Financial Acbvities as incurred.
Goodwill
Goodwill arising on the the governors tc be the	acquisition period of	ofthe subsidiary is being amortised over its useful life, which the lease within the subsidiary company which expires in August			is deemed 2031.	by

6	INCOME FROM DONAT	IONS, GRANTS AND L	IONS, GRANTS AND L	EGACIES
		UNRESTRICTED		DESIGNATED	RESTRICTED	TOTAL	TOTAL
	Donations		6 15178	5 1 397		2023 6 16575	2022 6 48349
			15,178	1,397		16,575	48,349
7	INCOME FROM OTHER	TRADING	ACTIVITIES
		UNRESTRICTED		DESIGNATED	RESTRICTED	TOTAL	TOTAL
						2023	2022
						6	5
	Lettings income Rental income		43,500 77290			43,500 77290	45,500 82 193
			120,790			120.790	127,593
8	INCOME FROM INVESTMENTS
		UNRESTRICTED		DESIGNATED	RESTRICTED	TOTAL	TOTAL
						2023	2022
	Interest receivable		47,371 47371			47,371 47371	3,543 3543

9	INCOME FROM CHARITABLE ACTIVITIES
		TOTAL	TOTAL
		2023	2022
	Gross school fees less bursaries and allowances Net school fees Add:	6 6,997,262 356,271 6,640,991	5 7,740,984 477,825 7,263,159
	Registration fees Extras income Learning support income Other ancillarY income	18,100 93,142 8,270 183vM3	20,505 154,399 5,706 195,133
		6,943,996	7,638,902
10	OTHER INCOME
		TOTAL	TOTAL
		2023f	2022 6
	Sundrv income	20,738	. 18,207

OR	THE YEAR ENDED 31AUGUST	THE YEAR ENDED 31AUGUST	THE YEAR ENDED 31AUGUST	2023
11	ANALYSIS OF EXPENDITURE
				Staff	Cepreoiation	Other	Total	Total
				Costs f	and amortisation E	costs 8	2023 8	2022 6
	Cost ofraising funds:
	Financing costs					166,864	166,864	107,895
	Total cost ofraising funds					166,864	166,864	107,895
	Charitable exPenditure:
	Education
	Teaching			4,082,556	172,375	384,611	4,639,542	4,587,363
	Welfare			178,655		564,749	743,404	664,856
	Premises			254,349	233,409	600,595	'I,088,353	1,089,992
	Support and governance			499,899	21,464	342,018	863,381	958,956
	Total charitable expenditure			5,015,459	427,248	1,891,973	7.334,680	7,301,167
	Total exPenditure			5,015,459	427,248	2058,837	?,501,544	7,409,062
	Analysis ofsupport and governance costs:						2023 8	2022 8
	Governance costs:
	Auditors' remuneration	for audit services					11,300	12,960
	Support staff wages relating Total governance costs		to governance				11,300	11.806 24,766
	Support costs: Legal and professional fees Support staff wages, national Other support costs		relating to support insurance and pension				24,642 499,899 32?,540	52,903 538,651 342,636
							863,381	958,956

		2023	2022
		Number	Number
Teaching		77	78
Welfare		6	4
Premises		7	8
Administration		11	13
		101	103
The aggregate	payroll costs for the year were as follows:
		2023	2022
		5
Wages and salaries Social security costs		4,042,188 3!}9,719	3,897,640 364,615
Pension costs		573,552	599,906
		5,015,459	4,862,161

2023	2022
Number	Number

2023	2022
5	5
119,841	118,716
119.841	118,716

2023	2022
6	6
897vt43	830,465

			Unrestricted	Designated	Restricted	Restricted	Total
			Funds	Funds	Funds		2022
			6	6	6		8
INCOME FROM:
Donations and legacies				43,299	5,050		48,349
Other trading activities			127,693				127,693
Investments			3,543				3,543
Charitable activities			7,638,902				7,638,902
Other income			18207				18,207
Total income			7788345	43,299	5	050	7836,694
EXPENDITURE ON:
Raising funds			107,895				107,895
Charitable activities			7267253	29,300	4	614	7301,167
Total expenditure			7,375,148	29,300	4,614		7,409,062
Net incomei(expenditure)			413,197	13,999		436	427,632
Transfers between	funds
Net movement in	funds		413,197	13,999		436	427,632
Fund balances brought		forward	7,172,815	14,674	4,910		7,192,399
Fund balances canied		forward	7,586,012	28,673	5,346		7,620,031

ORTHE YEAR ENDED 31AUGUST 20	23
14TANGIBLE FIXEDASSETS-GROUP
	Freehold	Short	Fixtures,	Motor	Total
	Property	Leasehold	Fittings 8	vehicles
		Property 6	Equipment
Cost
At 1 September 2022 Additions Disposals At 31August 2023	828,826 75,779 904,605	11,168,988 11,214,913	1,980,110 32,199 10,616 2,001,693	92,047 5,940 97,987	14,069,971 159,843 10,616 14,219,198
Depreciation
At 1 September 2022 Charge for year Eliminated on disposal At31 August2023	91,882 13,961 105843	2,135,728 219,448 2,355 176	1,394,532 164,764 10616 1,548,680	82,819 7,611 90430	3,704,961 405,784 10616 4100,129
Net BookValue
At31 August2023	798,762	8,859,737	453,013	7,557	10,119069
At 1 September 2022	736,944	9,033.260	585,578	9,228	10,365,010
TANGIBLE FIXEDASSETS -SCHOOL
	Freehold	Short	Fixtures,	Motor	Total
	Property	Leasehold	Fittings &	vehicles
		Property	Equipment
Cost		6	6
At 1 September 2022 Additions Disposals At 31 August 2023	828,826 75,779 904605	11,183,538 45,925 11209463	1,980,110 32,199 10,616 2001693	92,047 5,940 97987	14,064,521 159,843 10,616 14213748
Depreciation
At 1 September 2022 Charge for year Eliminated on disposal At 31August 2023	91,882 13,961 105843	2,131,830 219,361 2351,291	1,394,532 164,764 10616 1,548,680	82,819 7,611 - 90430	3,701,163 405,697 10616 4,096,244
Net Book Value
At 31August 2023	798762	8,858,172	453,013	7,557	10.117,504
At 1 September 2022	736,944	9,031,608	585,578	9,228	10,363,358
ASSETS ON FINANCE LEASES AND HIRE	PURCHASE -GROUP	AND SCHOOL	(included above)
					Fixtures,
					Fittings 6
					Equipment
Cost					6
At 1 September 2022 Additions At 31 August 2023					41,137 5,940 47,077
Depreciation
At 1 September 2022 Charge for year At31 August2023					37,708 4,418 42,126
Net Book Value
At 31 August 2023					4,951
At 31 August 2022					3,429

INVESTMENTS IN SUBS	IDIARIES
							2023
Cost
At 1 September 2022 and	31August	2023					317.822
Impairment
At 1 September 2022							123,497
Impairment in year							21,794
At 31August 2023							145,291
Net book value
At31 August2023							172,531
At 1 September 2022							194,325
The school owns 10014ofthe share capital of			the following	company:
Edge Grove Nursery SchoolLimited,		company	number 03830269, registered		in England	and Wales
(purchased 19December	2016)
							2023
Summary trading results:
Turnover							63,500
Administrative expenses
Net profit/(lass)
Summary balance sheet:
Fixed assets							1,565
Current assets
Creditors falling due within one year Net assets							1,565
Aggregate share capital and reserves							1,565
Contribution by parent company						2023	2022
The parent chadity contribution to the Income		results for the year is		as follows:		7,149,470	7,836,694
Expenditure Net income/(expenditure)	for the year					7,501,786 352,316	7,409,305 427,389
GOODWILL ON CONSOLIDATION
Cost							5
At 1 September 2022 and 31August		2023					314,891
Amortisation
At 1 September 2022 Amortisation for year At31 August2023							121,710 21,464 143,174
Net Book Value
At 31August 2023							171,717
At 1 September 2022							193181

DGE GROVE SCHOOL TRUST LIMITED IMITED BYGUARANTEE) OTES TO THE FINANCIAL STATEMENTS OR THE YEAR ENDED 31AUGUST 2023
17DEBTORS	Group		School
	2023	2022	2023	2022
Fee debtors Prepayments and accrued income Other debtors	6 88,125 90,620 34,479	6 106,250 123,367 14188	6 88,125 90,620 34479	6 106,250 123,367 14188
	213,224	243805	213,224	243,505
18CREDITORS: due within one year	Group		School
	2023 6	2022f	2023 5	2022
Bank loans and overdrafts Finance leases and hire purchase Trade creditors Accruals Feesin Advance Advance fee payment scheme Deposits Other creditors Other taxes and social security	2,380,?44 3,656 36,906 30,426 413,249 258,411 22,000 4,042 102362	473,669 14,070 29,124 59,909 327,836 288,878 44,000 21,321 102306	2,380,744 3,656 36,908 30,426 413,249 258,411 22,000 4,842 102362	473,669 14,870 29,124 59,909 327,836 288,878 44,000 21,321 102396
	3,252,596	1,362,003	3,252,506	1,362,003
Fees in advance represent fees received forthe Autumn	term 2023.
19 CREDITORS: due after one year	Group		School
	2023	2022	2023	2022
Bank loans Finance leases and hire purchase Advance fee payment scheme Deposits	267,667 2,896 30,280 367500	2,539,365 322000	6 267,667 2,896 30,280 367500	5 2,539,365 322000
	668,343	2,861,365	668,343	2,861.355
0 ADVANCE FEE PAYMENT SCHEME
Balance at 1 September 2022				288,878
New contmcts Amounts used to pay forfees				299,304 (299,491)
Balance at 31August 2023				288,691