2021-08-31-accounts - St Edmund's College

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					Pages
Reference and Administrative			Details ofthe Charity,	its Trustees and Advisors	1-2
Governors'	Report				3-16
Independent	Auditors'	Report			17-19
Accounting	Policies				20-23
Consolidated	Statement	of Financial Activities			24
Consolidated	Balance Sheet				25
Consolidated	Statement	of Cashf lowe
Notes to the	Financial Statements				27-41

The results ofthe charity were:
	E
Total Income and Endowments	14,431,478
Total Expenditure	13,362,932
Net Income	1,068,546

		Mite	Endowed	Restricted	Unrestricted	Total	Total
			Funds	Funds	Funds	2021	2020
			2	2	2	2
Income and Endowments	from:
Donations and legacies		1			53.355	53,656	7,793
Charitable acthities		5			14,062,126	14,062,126	13,131,861
Other trading actiubes		2,3			92,594	92,594	95.137
Imestments		4			801	839	17,394
Other income					222,263	222,283	571,232
Total Income and Endowments				338	14,431,140	14,431,478	13,823417
Expenditure on:
Raising funds					91,156	91,156	53,723
Charitable actiuties					13,271,776	13,271,776	13,454980
Total Expenditure					13,362,932	13362,932	13,508,703
Net Incomel (Expenditure)
before Transfers				338	1,068,208	1,068,546	314,714
				~IMMI	IMIII
Net Incomel (Expenditure)	Before Other Recognised			(186.303)	1,254,849	1.068,546	314.714
Gains and Loans
Gaini(Less) on imeslments					3,115	3,115	(1,859)
					83,000	83,000	(52,000)
Actuarial Gainf(Loss) on defined benelit pension schemes
Nst Movement in Funds				(186,303)	1,340,964	1,154661	260,655
Total funds brought fcvward	at 1 September 2020		28,224	2.328,740	6,685.875	9,042,839	8,781,984
Total Funds Carried Forward at 31 August 2021			28,224	2,142,437	8,026,839	10,197500	9,042,839

						Group			College
						2021	2020		2021	2020
FIXEDASSETS
Tangible assets Inlestments					12	6,560,416	6.040,224 5453	6,496,154 8,573		6,040,224 5457
							6,045,677	6,503,727		6,045,681
CURRENT ASSETS
Stocks					15	15,642	10,293		16,642	10,293
Debtors					16	578,188	371,096		634,402	408,751
Cash at bank and	in hand						6,986,442			6927,682
							7,367,831	8,050,794		7,346,726
Creditona amounts	falling	due within one year			17	(3,590,250)	(3,439,669)	(3,581,879)		(3,435,852)
NET CURRENT ASSETS								4	468915	3910874
TOTAL ASSETS LESS CURRENT LIABILITIES						10,999,651	9,973,839	10,972,642		9,956,555
LONG TERM LIABILITIES
Creditors: amounts	falling	alter		one year	18	(15,151)			(15,161)
Defined pension scheme		liability			21	(787,000)	(931,000)	(787,000)		(931,000)
NET ASSETS INCLUDING			PENSION SCHEME
LIABILITIES								0	S
CHARITY FUNDS
Endowed Funds					19	25,224	28,224		28,224	28.224
Restricted Funds					19	2,142,437	2,328,740	2,142,437		2,328,740
Unrestricted Funda					19
Unrestricied funds excluding				pension scheme		8,813,839	7,616,875	8,786,830		7.599,591
liability
Pension resene						(787,000)	(931,000)		(787,000)	(931,000)
TOTAL FUNDS

					2021		2020
					6		6
Cash flows from operating		activities
Net cash prodded by (used operating actidties	in)				1,158,730		55,420
Cash flows from Inveshng		activities:
Purchase oftangible fixed assets				(722,055)		(51,460)
Loss on sale oftangible fixed assets				3 132		0
Investment Income and bank		interest	received	839		17,394
Net cash used in investing		acdvitles			(718,084)		(34,066)
Change in cash and cash equivalents in the year							21.354
Cash and cash equihalents	brought forward				6,986,442		6,965,088
Cash and cash equivalents forward		carried			7,427,088		6,986,442

1 Income from	1 Income from	1 Income from	1 Income from	Donations and	Donations and	Legacies	Legacies
							Endowment	Restricted	Unrestricted	Tote I	Total
							funds	funds	funds	funds	funds
										2021	2020
								K			E
Donations								300	53,356	53656	7,793
											7793
Donations	2020								7,793		7,793
2 Rents		Receivable								2021	2020
										5	E
Rents receivable										17,504	18,973
3 Non Charitable					Trading					Total	Total
										funds	funds
										2021	2020
Income
Tumowr										75,086	76,070
Interest Receineble										4	94
										75,090	76,164
Expenses Cost ofsales										88,926	51,980
Administration			Expenses							2,230	1,743
										91156	53,723
Nei expenditure			from non charitable			trading	income			16,066	22,441
4 investment				Income			Endowment	Restricted	Unrestricted	Total	Total
							funds	tunds	funds	funds	funds
										2021	2020
											E
Inwstment		income			- local cash
Infestment		income			—other local			38	801	839	17,394
inwstments
								38	801	839	17,394
Total funds		2020							16,658		17.394

5 Income From Charitable	5 Income From Charitable	Activities				2021	2020
							2
Gross fees						15,114,299	14,120,736
Less: Total bursaries,	grants and
allowances						(1,538,426)	(1,521,458)
Registration Fees						43,380	38,292
Summer school income							63,591
School coach income						435,595	399,557
Fundraising Income						7278	30,843
						14062,126	13,'l31,861
6 Analysis of Expenditure		on Charitable	Activities
		Endowment		Restricted	Unrestricted	Total	Total
			funds	funds	funds	funds	funds
						2021	2020
						6	6
Teaching costs					6,795,122	6,795,122	6,751,516
Welfare					1,241,230	1,241,230	1,257,084
Premises					2,471,383	2,471,383	2,390,003
School Administration costs	and support				2,764,041	2,784,041	3,056,377
					132T1U6	132TITcc	13454MO

7 Direct Costs	7 Direct Costs
		Teaching	Welfare	Premises	School	Total
		Costs			Admlnisbatlon	2021
		6			6
Direct chantable	expenditure	352,891	1,047,037	1,255,209	1,530,138	4,185,275
Wages and salanes		4,898,100	174,787	913,580	1,017,329	7,003,796
National insurance Pension Cost		510,676 1,033,455	13,103 6,303	65,403 40,240	109,165 70,781	698,347 1,150,779
Depreciation				196951		196961
		6, 95122	1 241230	2,471,383	2,727,413	13,235148
Total 2020		6751,516	1 257,084	2390,003	3034365	13432 969

8 Support Costs						School Adminlshaaion	School Adminlshaaion		Tots I 2021	Total 2020
							5		5
Governance costs							366		36628	22,011
									2021	2020
									6
Auditom' remuneration:									21,082	16,648
Gotemors Insurance									1,616	1,960
Goiemors Expenses Misc									aos 13026	4,403
									36628	22011
During the year SNil was reimbursed			to	Nil	Gotemois (2020. 21,201,to 4Goiemors)		for expenses	incurred
9 Analyslsof ResourcesExpended				Sy Expenditure		Type
					Siss costs	Depreciation	Other Costs		Tots I	Total
									2021	2020
									5	5
Non charitable trading Cost ofgenerating	expenses funds						91,166 91,166		91,165 91,156	53,723 53,723
Teaching costs Welfare					8,442,231 194,193		362,891 1,047,037		6,796,122 1,241,230	6,751,516 1,257,054
Premises					1,019,223	19s,ast	1,255,209		2,471,383	2,390,003
School Administration	and	support			1,197,276		1,666,766		2,764,041	3,050,377
costs Charitable activities					8,862822	195951	4 221 903		13271,775	13,454,900
					8 852 922	196961	4313068		13362 932	13508,703
10 Net Incomel(Expenditure) This is stated after charging.									2021 5	2020f
Depreciation offixed assets . - owned by the chantable group									198730	240,153

11 Staff Costs
Staff Costs were as follows:					2021	2020
						E
Wages and salaries					7,003,796	7,112,128
Social security costs					698,347	698,147
Other pension costs (note 21)					1 150,779	1,190,874
					8,852 922	9,001,149
The storage number ofpersons	employed		by the College during	the year was as follows:
					2021	2020
Teaching staff					131	144
Support staff					7	7
Welfans					9	12
Premises					23	20
Household					31	32
Administration					28	35
Marketing					3	2
					232	252
The number ofhigher paid employees		was.
					2021	2020
					No.	No
E50,001 - E70,000					9	6
E70,001 - E80,000					2	2
E80,001 - E90,000
E90,001 - E100,000
E100,001 - E110,000
E110,001 - E120,000
E120,001 - E130,000

12 Tangible Fixed Assets	Land snd	Plant &	Motor Vehicles	Ail Weather Pitch	Total
Group	buildings 2	Equipmentf
Cost At 1stSeptember 2020 Additions Disposais	5,383,938 436,782	2,534,863 220,273 (501,587)	92,945 65,000 (47,288)	416,498	8,428,244 722,066 (648,876)
Write Oib At 31 August 2021	5 820,720	2253 549	110,657	416498	8,601,424
Depreciation At 1st September 2020 Charge for year Dispossis		1,888,912 193,011 (498,454)	89,495 3.424 (47,288)	409,613 2,295	2,388,020 198,730 (646,742)
Write Ofs At 31 August 2021 Net Book Value at 31 August 2021 Nst book wlue at 31 August 2020	5,820. 20 ,383,9M	1 583,469 6 0080 665,9 1	45631 65026 3,450	411,908 4,590 6,885	2 041 008 6680,416 6040224
College
Cost At 1st September 2020 Additions Dispoesis	5,383,938 436,782	2.534,863 218,231 (501,587)	8,280	416,498	8,343,679 666,014 (601,687)
Write Oiis At 31 August 2021	5,820 720	2,251,507	8,280	416,498	8497,006
Depreciation At 1st September 2020 Charge for year Disposais		1,888,912 192,585 (498,454)	4,830 2,070	409,613 2,295	2,303,365 196,SS1 (498,454)
Write Orfs At 31 August 2021 Nst Book Value at 31 August 2021 Net book 6elus at 31 August 2020	5,820,720 5,383,938	1,583043 668464 645951	1,380 3,450 6900	4,590 8,885 411908	6495,164 6,040,224 2001 SS2

13 Fixed Asset Investments	13 Fixed Asset Investments
Group
Market value
At 31August	2021

Ail gxed asset inumtments	Ail gxed asset inumtments	are held
			Listed	Unlisted
College Market Value At 31 August 2021			securities f 8,569	securities f 4	Tote I f 8,573
College investments	at	market value comprise:		2021	2020
Listed inu.stments				f	f
Group Total				8,569 4	5,453 4
				8573	5457

14 Principal Subsidiaries
Subsidiary name Company registration number Basis ofcontrol					Old Hall Enterprises Ltd 01889064 Wholly owned subsidiary
Equity shareholdng %						100%
Total assets as at 31 August 2021						8115,279
Total liabilities as at 31 August 2021 Total equity as at 31 August 2021						E88,266 E27,013
Turnover for the year ended 31August 2021 Expenditure fitr the year ended 31 August 2021 Profit for the year ended 31 August 2021						6190,089 6180,364 9,725
15 Stocks					Group 2021	2020	College 2021	2020
					E	E	E	E
Consumablss					15,642 15642	10,293 10,293	15,842 15,642	10,293 10.293
16 Debtors					Group 2021	2020	College 2021	2020
					E	E	E
Trade debtors Other debtors					259,641 54,323	62,086 90,907	259,184 31,835	62,086 83,257
Amounts owed from group undertakings Prepayments and accrued income					264,222	218,103 371,096	79,895 263,488 634402	34,244 229,164 408,751
17 Creditors: Amounts falling	due	within		one year	Group aoat	2020	College 2031	2020
					E	8	E	E
Fees paid in advance Other creditors					1,125,906 856,226	1,195,079 591,529	1,125,906 650,391	1,195,079 589,078
Amounts owed to group undertakings Other taxation and social security School fees deposits Accruals					173,813 1,366,627 267,678 3,590250	172,808 1,201,331 278,922 3,439,669	173,813 1,366,627 265,142 3,581,879	172,808 1,201,331 277,556 3,435,852
18 Credltonk Amounts falling	due		over one year		Group 2021	2020	College 2021	2020
					E		E	E
Lease liabilities					15151		15151
					15,151		15.151

FOR THE YEAR ENDED	31AUGUST 2021
19 Statement of Funds
Designated Funds(Group and Charity) Balance 1 September 2020	Income Outgoing resources Transfers & invesbnent gaInsl(losses) Balance 31 August2021
Cap8al Resene As Weather Pitch Replacanent Fund Amenities Fund Sia0ard Legacy Cardinal Hume Assistance Fund Froiich Fund Other Designated Funds 5,383,938 232,953 S7,249 46,996 1,08S,989 8,021 2776	7,278 (15,886) 8 436,782 15,000 10,882 (1,08S,989) 5,820,720 247,953 69,303 46,998 8,021 2 776
6817932
General Funds College(Group and Charity) Cardnai Hume Aasislance Fund Subsidiary Company (Group) Pension Resene (Group and Charily) Balance 1 September 2020 5 781,659 Income 14,362,943 202 60,717 Outgoing resources (13,316,890) (91,156) 61,000 Transfers & Investment gains/(losses) 8 (312,852) 1,085,989 40,1S4 83000 Balance 31 August 2021 1,514,850 1,086,191 27,009 787,000
Total Unrestricted Funds 6885875 14	431 140 13362932 896301 1841 060 272 756 8026 839
Endowment Funds -(Group and Charity) Primtop Bursary Mary Woodcock Mathematics Pnze Edmundian Scholarship Father Higiey Scholarship Our Lady ofPity Scholamhip Balance 1 September 2020 8 25,000 300 485 1,483 958	Income Outgoing resources Transfers & Balance 31 Augufd 2021 gainaigoems) 5 5 25,000 300 486 1,483 956
28224	28224
Restricted funds (Group and Charity) Balance 1 September 2020	Income Outgoing resources Transkfrs & investment gainer(losses) Balance 31 Augusi2021
Fortescue Vestment Rasorauon Butler Memorial Fund Father Pinot Fund Bursary Fund Other Restncted Funds 5 1,100 107 279,762 2,047,771	38 300 5 (40,751) (145,890) 8 1,100 107 239,049 1,901,881 300
Total Funds 2328740	338 186641 2 142437 86 115 10197500
Endowment and Restricted funds comprise donations received specifically to generate income to fund scholarships and bursaries. Transfers are made from the Endowed and Restricted Funds to general funds to contribute to the cost of scholarships and bursaries. The All Weather Pitch Replacement Fund comprises an amount sat aside to build a fund for the replacement ofthe All Weather Pitch. An annual transfer is made to this fund from general funds and a transfer has been made to general funds to cover expenditure incurred on replacement work in the year, The Amenities Fund represents donations to the College Parents Association and income generated on behalf of the College by the Parents Association. The income is used to fund purchases of specific items of equipment for use by College students. The Cardinal Hume Assistance Fund, the Stallard Legacy and the Frolich Fund are established to fund bursarias. The Capital Reserve represents the balance of the College funds that are invested in land and buildings. Other designated funds include sums raised for specific items of expenditure. During the year a transfer was made to general funds representing spend on the chapel.

Statement of Funds Prior Year Designated Funds(Group and Charity)	Balance 1 $ be 201g September 9	Balance 1 $ be 201g September 9	Income	Outgoing resources	Transfem & inurstment gains/(losses)	Balance 31 August 2020
Capital Resene All Weather Pitch Replacement Fund Amenities Fund Stallard Legacy Cardinal Home Assistance Fund Frolich Fund Other designated Funds		5 5,382,411 217,963 35,944 46,996 1.085,692 6,144 2,776 6777 926	297 1,877	(9,488)	9 1.527 15,000 (50) 16,477	5,383,938 232,963 57,249 46,996 1,085,989 8,021 2,776 8,817,932
General Funds	Balance 1 September 2019		Income	Outgoing resources	Transfers & iniestment gains/(losses)	Balance 31 August 2020
College(Group and charity) Subsidiary company (Group) Pension resene (Group and Chanty)		9 432.561 24,719	5 13,729,632 60,032	(13,549,492) (53,723) 104,000	5 168,958 (13,744) 52,000	5 781,659 17,284 931,000
Total Unrestricted funds		525,720 6252,206	13,822,681	13,508703	119,691	6,685,875
Endowment Funds - (Group and Charity)	Balance 1 $ I b 201g September 9		Income	Outgoing resources	Transfem & insestment gains/(losses)	Balance 31 A t 2020
		5			5	5
Primtop Bumary Man/ Woodcock Mathematics Prize Edmundian Scholarship Father Higley Scholarship Our Lady of Pity Scholarship		25,000 300 485 1,483 956 28,224				25,000 300 485 1.483 956 28,224
Restricted Funds(Group and Charity)		Balance 1 September 2019	Income	Outgoing resources	Ti'ansfeis & iniestment gains/(losses)f	Balance 31 August 2020
Forlescue Vestment Resoration Butler Memorial Fund Father Pinot Fund Bursary Fund		1,100 107 306,684 2,193,663	736		(27,658) (145,892)	1,100 107 279.762 2,047,771
Other Restricted Funds TotalFunds		2,501,554 8,781,984	736		173550 3,	2 328740 I,

Group Analysis ofNe	Current Year
	Endowment	Restricted Funds	Unrestricted	Total Funds
	Funds 2021	2021	Funds 2021	2021
Tangible lixed assets Fixed asset inwstments Current assets Creditors due within one year Prrnisions for liabilites and charges	28,224 2 2r E	E 2,142,437 2,142437	E 6,660,416 8,569 6,860,265 (3,590,260) 802 161 8,028,839	E 6,660,416 8,569 6,020,916 (3,590,260) 802161 10197500

Group Analysis of N
	Endowment	Restricted	Funds	Unrestricted	Total Funds
	Funds 2020		2020	Funds 2020	2020
Tangible fixed assets Fixed asset inwstments	E		E	E 6,040,224	E 6,040,224
Current assets Creditors due within one year Provisions for liabihtes and charges	28,224	2,328,740		5,453 5,010,867 (3,439,669) 931,000	5,453 7,367,831 (3,439,669) 931000
	28224	2,328,740		6,685,875	9,042,839
Charity Analysis of Net Assets Between Funds -Current Year
	Endowment	Restricted	Funds	Unresbfcted	Total Funds
	Funds 2021		2021	Funds 2021	2021
Tangible fixed assets Fixed asset investments	E		E	E 6,496,164	E 6,496,164
Current assets Creditors due within one year Provisions for liabilites and charges	28,224	2,142,437		8,673 5,880,133 (3,681,879) 802 151	8,573 8,060,794 (3,681,879) 802,161
	28 224	2,142,437		7,999830	10170491

Charity Analysis ofN	Prior Year
	Endowment	Restricted Funds	Unrestricted	Total Funds
	Funds 2020	2020	Funds 2020	2020
Tangible fixed assets Fixed asset inwstments	E		E 6,040,224	E 6,040,224
Current assets Creditors due within one year Provisions for liabilrtes and charges	28,224	2,328,740	5,457 4,989,762 (3,435,852) 931000	5,457 7,346,726 (3,435,852) 931000
	28,224	2,328,740	6,568,591	9,025,555

1he assets	1he assets	in the scheme and the expected rates of return	in the scheme and the expected rates of return	in the scheme and the expected rates of return	were:	Fair value at 31 August2021	Fair wlue at 31 August 2020
						f	f
Equities						806,000	485,000
Cash						192,000	335,000
Properly						28,000	26,000
Insured	pensions					1,374,000	1,420,000
Bonds						487,000	423,000
Altematiws						62,000	19,000
Total market		wive ofassets				2,949,000	2,708,000
The actual		return on	scheme assets	was f216,000	(2020-f77,000)
The amounts		recognised	in the Statement	ofFinancial Actiuties are as follows:		2021	2020
						f	f
Cunent	senice cost					32,000	30,000
Net Interest		cost				14000	17,000
Total						46000	47,000
Actual return		on scheme	assets			216,000	77,000
Mowments		in the present	value ofa defined	benefit obligation	were as follows:	2021	2020
						f
Opening	defined benefit obligation					3,639,000	3,571,000
Interest	cost					58,000	54,000
Contributions		by scheme	participants			3,000	3,000
Actuarial	gains					ee,ooo	82,000
Cunent	service costs					32,000	30,000
Benelits	paid					efi,ooo	111,000
Closing	delined benelil obligation					3,736000	3,639,000
Changes	in the fair value		ofscheme assets	were as follows		2021	2020
							f
Opening	fair	value ofscheme assets				2,708,000	2,588,000
Interest	Income					44,000	47,000
Actuarial	gains and (losses)					172,MO	30,000
Contributions		by employer				107,000	151,000
Contributions		by scheme	participants			3,000	3,000
Benefits	paid					86,000	111,000
						2,949,000	2,708,000

The major categories of	The major categories of	scheme assets as a percentage oftotal	scheme assets as a percentage oftotal	scheme assets as a percentage oftotal	scheme assets are	as follows:	2021	2020
Equities							76.03%	71.05%
Bonds							16.51%	15.62%
Properly							0.96%o	0.960/o
Cash							6.51%%uo	12.37%
Amounts for	the current	and previous	four periods sre ss follows:
Defined benefit pension		schemes
				2021	2020	2019	2018	2017
Defined benefit obligation				(3,736,000)	(3,639,000)	(3,571,000)	(2,881,000)	(3,050,000)
Scheme assets Deficit				20O,DM 2200000 2000Mtl ~203,000~939,0DD~983000			2,308,000 573,000	2,236,000 814,000
Experience	adjustments	on scheme		(89,000)	(82,000)	(660,000)	198,000	46,000
liabilities
Experience	adjustments	on scheme	assets	172,000	30,000	137,000	(27,000)	(29,000)

22 Operating Lease Comm	itments
At 31August 2021 the total of	the Group's	future minimum	lease payments	under	non cancellable	operating	leases was:
							2021	2020
Group and College amounts	payable						6	6
Within I year							35,029	33,884
Between I and 5years							67,807	28,136
							102,836	62,020

25 Consolidated Statement ofFinancial	25 Consolidated Statement ofFinancial	Figures By Fund-Type	Figures By Fund-Type
Year Ended 31 August	2020	Endowed	Restricted	Unreiaricted	Tots I
		Funds	Funds	Funds	2020
			6	6	E
Income and Endowmentsfrom:
Donations and legacies				7,793	7,793
Charitable activities Other trading acthities				13,131,861 95,137	13,131,861 95,137
Inwstments				16,658	17,394
Other Income Total Income and Endowments				571,232 13822,681	571,232 13,823,417
Expenditure on:
Raising Funds				53,723	53,723
Charitable actidties Total Expendlture				13,454,980 13,508,703	13454,980 13,508,703
Net Income (Expenditure) before Transfers Transfers between funds Net Income (Expenditure) before Other			736 ~173,550	313,978 173550	314,714
Recognised Gains and	Losses		(172,614)	487,528	314,714
Gains on Ininstments Actuarial gains on defned	benefit pension schemes			(1,859) 52000	(1,859) 52 000
Net Nlovement in Funds	for the Year		(172,814)	433,669	260.855
Fund balances brought forward al I September 2019 Fund BalancesCardied Forward at 31August 2020		28,224 28 224	2,501,554 2,328,740	6,252,206 6685,875	8781,984 9,042,839

26 Reconciliation	of Net Movement	of Net Movement	of Net Movement	In Funds	to	Net Cash Flow	from Operating Activities
							2021	2021	2020	2020
							6	6	2	2
Net income/(expenditure)for		the year (ss		per Statement		ofFinancial
Actiuties)							1,071,661			312,855
Adjustment for.
Iniestment income							(839)		(17.394)
Finance costs
Depreciation charge							198,730		240,153
Investment (gain)/loss							(3,115)		1,859
(Increase)/Decrease	in stocks						(5,349)		14,055
(Increase)/Decrease	in debtors						(207,090)		164,011
Increase/(Decrease) Actuarial change in	in creditors pension scheme		liability				185,732 ~67,000		(556,119) ~104,000
								87,069		257,435
Net Cash prouded by/(used		in) operating		actiuties			I	181120		01,420
27 Analysts ofCash and Cash Equivalents-					Group				2021	2020
									6	6
Cashinhand									7421018	8 IID 406
									7427000	6080402