| ONTENTS | ONTENTS | |||
|---|---|---|---|---|
| REFERENCE 8 ADMINISTRATIVE INFORMATION |
. | |||
| PUBLIC BENEFIT AIMS AND INTENDED | IMPACT | 3 | ||
| GOVERNANCE AND MANAGEMENT. |
4 | |||
| STRATEGIC REPORT | 5 | |||
| REVIEW OF ACHIEVEMENTS AND PERFORMANCE |
FOR THE YEAR | |||
| STATEMENT OF DIRECTORS' RESPONSIBILITIES | 10 | |||
| INCOME AND EXPENDITURE ACCOUNT | FOR THE | YEAR ENDED 31 AUGUST 2023 .. | ....14 | |
| BALANCE SHEET AS AT 31 AUGUST 2023 . | 15 | |||
| STATEMENT OF CASH FLOW FOR THE | YEAR ENDED 31AUGUST 2023.. | .16 | ||
| 1. COMPANY INFORMATION |
17 | |||
| 2. ACCOUNTING POLICIES |
17 | |||
| 3. FEES RECEIVABLE |
19 | |||
| 4. ANALYSIS OF TOTAL RESOURCES |
EXPENDED. | 19 | ||
| 5. TANGIBLE FIXEDASSETS |
22 | |||
| 6. INVESTMENTS ... |
.....23 | |||
| 7. DEBTORS . |
23 | |||
| 8. CREDITORS: DUE WITHIN ONE YEAR |
23 | |||
| 9. CREDITORS: DUE AFTER MORE THAN ONE |
YEAR: | 24 | ||
| 10. BANK LOANS |
24 | |||
| 11. SHARE CAPITAL | 24 | |||
| 13. OPERATING LEASE COMMITMENTS. ....... ............ | .....25 | |||
| 14. TEACHERS' PENSION SCHEMES | .....25 | |||
| 15. STCHRISTOPHER SCHOOL GUILDS LIMITED | 25 | |||
| 16. CONTRACTS AND COMMITMENTS | ... | .....26 | ||
| 17. CASH FLOW. |
.. ..26 |
| Ordinary | shares ofF1 each | shares ofF1 each | ||
|---|---|---|---|---|
| At 31August 2023 | At 1 September | 2022 | ||
| Alison Burrows | ||||
| Rebecca Glover | ||||
| Jakub Kozlowski | 12 | |||
| Peter McMeekin | 12 | |||
| Dasha Nicholls | ||||
| Chris Toepfer | ||||
| 40 | 40 |
| Notes | 2023 | 2022 | |||
|---|---|---|---|---|---|
| E | E | ||||
| Income from Charitable | Activities | 10,293,511 | 9,786,371 | ||
| Incoming Resources from Other Trading Activities | |||||
| Letting s | 141,379 | 145,665 | |||
| Other income | 2,805 | 2,172 | |||
| Total Income | 10,437,695 | 9,934,208 | |||
| EXPENDITURE | |||||
| Charitable Activities |
|||||
| Education and grant making |
10,647,568 | 9,694,621 | |||
| Total Expenditure | 10,647,568 | 9,694,621 | |||
| Net (outgoing)/incoming losses |
resources | before gain and | (209,873) | 239,587 | |
| Net Gain on investments | (122,705) | ||||
| Net movement in funds |
(209,873) | 116,882 | |||
| Balances brought forward |
at | ||||
| 1 September 2022 | 10,173,605 | 10,056,723 | |||
| Balances carried forward | at | ||||
| 31 August 2023 | 9,963,732 | 10,173,605 |
| Notes | 2023 | 2022 | ||
|---|---|---|---|---|
| E | E | |||
| TANGIBLE FIXEDASSETS | ||||
| School buildings and equipment |
9,009,221 | 9,320,606 | ||
| INVESTMENTS | 1;575,007 | 1,575,007 | ||
| CURRENT ASSETS | ||||
| Debtors | 432,101 | 435,253 | ||
| Cash | 2,147,796 | 2,308,839 | ||
| 2,579,897 | 2,744,092 | |||
| CREDITORS: amounts | due within one year | 8 | ~2,350,753 | ~2,527,815 |
| NET CURRENT LIABILITIES | 229,144 | 216,277 | ||
| TOTAL ASSETS LESS | CURRENT LIABILITIES | 10,813,372 | .11,111,890 | |
| CREDITORS: amounts Loan 8 Fees in Advance |
due after more than one year | 9 | ~849800 | ~938.245 |
| TOTAL NET ASSETS | 9,963,772 | 10,173,645 | ||
| CAPITAL AND RESERVES | ||||
| Called up share capital |
40 | 40 | ||
| UNRESTRICTED FUNDS | ||||
| General Reserve | 9,963,732 | 10,173,605 | ||
| Designated Reserves |
||||
| TOTAL UNRESTRICTED FUNDS | 12 | 9,963,732 | 10,173,605 | |
| 9,963,772 | 10,173,645 |
| Notes | 2023 | 2022 | |||
|---|---|---|---|---|---|
| E | |||||
| Cash flows from Operating | Activities: | ||||
| Net cash provided by operating activities |
(16a) | 418,125 | (23,340) | ||
| Cash flows from Investing | Activities: | ||||
| Payments for tangible fixed |
assets | (356,438) | (403,637) | ||
| interest Paid on Loan |
(66,429) | (14,361) | |||
| Property Rental Income |
52,035 | 67,220 | |||
| Management charges for rental property |
4,615 | ||||
| (14,394) | 48,244 | ||||
| Net cash flows used in investing activities: |
(370,832) | (355,393) | |||
| Cash flows from Financing | Activities: | ||||
| New Loan | 550,000 | ||||
| Repayments on Loan |
208,335 | 367,600 | |||
| Cash flows used in financing activities: |
(208,335) | 182,400 | |||
| Change in.cash and cash equivalents in the period |
reporting | 161,043 | 196,333 | ||
| Cash and cash equivalents reporting period |
at the beginning | ofthe | 2,308,839 | 2,505,172 | |
| Cash and cash equivalents | at the end of | the reporting | (16b) | 2,147,796 | 2,308,839 |
| period |
| t an appropriate year end exc |
hange rate. |
||
|---|---|---|---|
| EESRECEIVABLE | 2023 | 2022 | |
| E | E | ||
| Fees receivable consists of: | |||
| School Fees | 10,097,075 | 9,614,257 | |
| Less: Bursaries Allowances |
(409,564) ~497,399 |
(395,500) ~425,939 |
|
| 9,280,122 | 8,793,727 | ||
| Other fees receivable | 876,618 | 865,488 | |
| Fees Receivable | 10,156,740 | 9,659,215 | |
| Coaching charges | 5,958 | 4,161 | |
| Swimming Pool Income |
130,813 | 122,995 | |
| Total income from Charitable | Activities | 10,293,511 | 9,786,371 |
| ANALYSI | S OF TOTAL RESO | URCES EXPENDED | ||||
|---|---|---|---|---|---|---|
| 2023 | Staff costsf | Other E |
Depreciation | f | Total F |
|
| Charitable | Activities: | |||||
| Education | 4,874,389 | 760,419 | 5,634,808 | |||
| Welfare | 795,708 | 341,219 | 1,136,927 | |||
| Premises | 743,733 | 786,067 | 667,824 | 2,197,624 | ||
| Swimming | Pool Costs | 225,496 | 31,138 | 256,634 | ||
| Support Costs | 508,756 | 912,819 | 1,421,575 | |||
| 7,148,082 | 2,831,662 | 667,824 | 10,647,568 | |||
| 2022 | ||||||
| Charitable | Activities: | |||||
| Education | 4,343,634 | 756,862 | 5,100,496 | |||
| LVelfare | 760,109 | 265,434 | 1,025,543 | |||
| Premises | 267,530 | 775,975 | 681,887 | 1,725,392 | ||
| Swimming | pool costs | 174,169 | 21,378 | 195,547 | ||
| Support Costs | 656,633 | 991,010 | 1,647,643 | |||
| 6,202,075 | 2,810,659 | 681,887 | 9,694,621 |
| within Other Costs above were Governance cos |
ts of EO (2022:6537) relating to |
expenses. |
|---|---|---|
| 2023 | 2022 | |
| Other expenditure includes: |
||
| Auditor's remuneration: |
||
| for audit (inc VAT) | 17,756 | 17,500 |
| Operating lease rentals —other |
31,060 | 37,843. |
| Depreciation | 667,824 | 681,887 |
| Staff Costs | ||
| Wages and salaries | 5,808,596 | 5,046,562 |
| Social security costs | 570,370 | 485,512 |
| Pension contributions | 769,116 | 670,001 |
| 7,148,082 | 6,202,075 |
| rage num |
ber of empl | oyees in the |
year was: | ||||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| Average | Average | FTE | Average Actual | Average | FTENo. | ||
| Actual No. | No. | No. | |||||
| Teachers | 72 | 65 | 68 | 63 | |||
| Academic | Support | 43 | 28 | 40 | 23 | ||
| Welfare | 32 | 23 | 29 | 20 | |||
| Premises | 28 | 25 | 25 | 21 | |||
| Administration | 15 | 14 | 13 | 12 | |||
| Total | 190 | 155 | 176 | 140 |
| Related Party | Transactions | Transactions | 2023 | 2022 |
|---|---|---|---|---|
| Reimbursement | of | trustee expenses | EO | EO |
| Number oftrustees | reimbursed |
| whose emoluments ex |
ceeded 660, | 000 wer |
|---|---|---|
| 2023 | 2022 | |
| No. | No. | |
| 660,001 - 670,000 | 2 | |
| 670,001 - 680,000 | ||
| 680,001 - f90,000 | ||
| 690,001 —6100;000 | ||
| f100,001 - f110,000 | ||
| f110,001 —f120,000 | ||
| f120,001 - 2130,000 | ||
| f170,001 - 2180,000 | ||
| E330,001 - 2340,000 |
| NGIBLE FIXEDASSETS | |||||||
|---|---|---|---|---|---|---|---|
| Long | Fixtures | ||||||
| Leasehold | Motor | Fittings and | Leasehold | Computer | |||
| Property | Vehicles | Equipment | Improvements | Plant | Equipment | Total | |
| 6 | 6 | 6 | E | 6 | 6 | E | |
| Cost/valuation | |||||||
| 1 September 2022 | 11,194,884 | 84,663 | 3,760,521 | 5,047,523 | 978,441 | 1,003,147 | 22,069,179 |
| Additions at cost |
92,822 | 251,510 | 12,106 | 356,438 | |||
| Disposal at cost | |||||||
| 31 AUGUST 2023 | 11,194,884 | 84,663 | 3,853,343 | 5,299,033 | 978,441 | 1,015,253 | 22,425,617 |
| Depreciation | |||||||
| 1 September 2022 | 5,759,817 | 78,114 | 3,172,671 | 2,257,063 | 513,684 | 967,223 | 12,748,572 |
| Charge for year | 224,739 | 6,319 | 126,005 | 244,791 | 48,922 | 17,048 | 667,824 |
| Disposal | |||||||
| 31 AUGUST 2023 | 5,984,556 | 84,433 | 3,298,676 | 2,501,854 | 562,606 | 984,271 | 13,416,396 |
| Net book values | |||||||
| 31 AUGUST 2023 | 5,210,328 | 230 | 554,667 | 2,797,179 | 415,835 | 30,982 | 9,009,221 |
| 31August 2022 | 5,435,067 | 6,549 | 587,850 | 2,790,460 | 464,757 | 35,924 | 9,320,607 |
| INVESTMENTS | INVESTMENTS | INVESTMENTS | 2023 | 2022 | ||
|---|---|---|---|---|---|---|
| E | ||||||
| Investment | properties b/fwd |
1,575.000 | 1,700,000 | |||
| Transfer from | fixed assets | |||||
| Improvements | and, additional | costs | ||||
| Gains/(Loss) | on revaluation | (125,000) | ||||
| Investment | properties c/fwd |
1,575,000 | 1,575,000 | |||
| Investment | in | subsidiary undertaking |
(note 15) | 7 | 7 | |
| 1,575,007 | 1,575,007 |
| 1 | 1 | 1 | 1 | 1 | ,575,007 | 1,575,007 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| In 2013,two properties | were transferred | from tangible fixed assets to investment | properties | following | ||||||
| a change of use and | in | January 2019a further | property | was transferred. | The | market value of all 4 | ||||
| properties as at 23rd | June 2022 was estimated | by local | real estate agents | using their knowledge of |
||||||
| the local market for such assets. The Trustees | valued these properties | at | E1,575,000 based on this | |||||||
| informal advice. |
||||||||||
| 7. | DEBTORS | 2023 | 2022 | |||||||
| E | ||||||||||
| Fees | 211,390 | 233,576 | ||||||||
| Other debtors | 44,658 | 54,497 | ||||||||
| Prepayments and accrued income |
176,053 | 147,180 | ||||||||
| 432,101 | 435,253 | |||||||||
| 8. | CREDITORS: DUE | WITHIN ONE YEAR | 2023 | 2022 | ||||||
| E | ||||||||||
| Bank Loan (note 10) | 86,645 | 208,335 | ||||||||
| Fees in advance | 861,621 | 939,226 | ||||||||
| Parental deposits |
651,762 | 649,537 | ||||||||
| Trade creditors | 281,326 | 475,128 | ||||||||
| Other taxes and social security | 138,885 | 126,756 | ||||||||
| Accruals and deferred |
income | 175,583 | 96,070 | |||||||
| Other creditors | 154,931 | 32,763 | ||||||||
| 2,350,753 | 2,527,815 |
| CREDITORS: DUE AFTER MORE THAN ONE YEAR: | 2023 | 2022 |
|---|---|---|
| E | E | |
| From one to two years: | ||
| Fees in advance | 77,071 | 79,071 |
| Loan (note 10) | 86,645 | 859,174 |
| From two to five years: | ||
| Loan | 259,935 | |
| Five years onwards: | ||
| Loan | 425,949 | |
| Total | 849,600 | 938,245 |
| BANK LOANS | 2023 | 2022 |
| F | E | |
| Amounts falling due: |
||
| Within one year | 86,645 | 208,335 |
| Within one to two years | 346,580 | 859,174 |
| Within two to five years | 425,949 | |
| Total | 859,174 | 1,067,509 |
| SHARE | CAPITAL | No. | Value | No. | Va/ue |
|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | ||
| Allotted | and fully paid: | ||||
| Ordinary | shares of E1 each | 40 | 40 | 40 | 40 |
| 2023 | 1 September | Deficit | Deficit | Transfers | 31 August | |
|---|---|---|---|---|---|---|
| F | E | E | K | |||
| General funds | 10,173,605 | (209,873) | 9,963,732 | |||
| Total general funds |
10,173,605 | (209,873) | 9,963,732 | |||
| 2022 | ||||||
| General funds | 9,854,085 | 116,882 | 202,638 | 10,173,605 | ||
| Designated funds |
||||||
| Fees reserve | 30,000 | (30,000) | ||||
| Capital reserve | 172,638 | 172,638 | ||||
| Total designated | funds | 202,638 | 202,638 | |||
| Total unrestricted | funds | 10,056,723 | 116,882 | 10,173,605 | ||
| OPERATING LEASE | COMMITMENTS | |||||
| 2023 | 2022 | |||||
| Total value of minimum | lease payments over remaining |
life: | E | |||
| Within one year | 30,350 | 31,060 | ||||
| Within two to five | years | 55,897 | 76,052 | |||
| More than five years | 10,195 |
| 7. CASH FLOW |
||||||
|---|---|---|---|---|---|---|
| (a) Reconciliation of Net |
Incoming | Resources to Net Cash Inflow from Operations | ||||
| 2023 | 2022 | |||||
| F | E | |||||
| Net incoming resources |
209,873 | 116,822 | ||||
| Elimination of non-operating |
cash flows: | |||||
| Interest received | ||||||
| Interest of loan repaid | 66,429 | 14,570 | ||||
| Capital repayment of loan |
208,335 | |||||
| Rental Income from irivestment | (52,035) | (67,220) | ||||
| Cost of Management of Rental |
Properties | 4,615 | ||||
| Losses/(gains) on investment |
properties | 125,000 | ||||
| Depreciation charges |
667,824 | 681,887 | ||||
| (Increase)/decrease in Debtors |
3,152 | (278,109) | ||||
| (Decrease)/increase in Creditors |
(265,707) | (620,905) | ||||
| 627,998 | 140,162 | |||||
| Net cash inflow from operations | 418,125 | 23,340 | ||||
| (b)Analysis ofcash and | cash equivalents | |||||
| Cash held and at bank | 2,147,796 | 2,308,839 | ||||
| (c)Analysis ofchanges |
in | net funds | ||||
| Balance at 1 September 2022 |
Cash Flows 31 |
Balance at August 2023 |
||||
| E | E | |||||
| Cash at bank 8 in hand | 2,308,839 | (161,043) | 2,147,796 | |||
| Loan (note 10) | ~1567 5D9 | ~258 335 | ~859 174 | |||
| 1,241,330 | 477,424 | 1,288,622 |
| Reconciliati | on of |
Net Cash | F | low to movement in net de |
bt | |
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| E | ||||||
| Increase/(decrease) | in cash | in | the year | .(1.61,043) | (196,333) | |
| Cash outflow from | decrease | in | debt | 208,335 | 281,091 | |
| Movement | in net | (debt)/funds | in the year | 47,292 | (447,424) | |
| Opening net |
funds | 1 241 330 | 1,718,754 | |||
| Closing net | funds | 1,288,622 | 1,241,330 |