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|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|
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||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||
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||||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||||||
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|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|
##
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|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|
##
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|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|
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|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|
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|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|