| PAGE | ||
|---|---|---|
| GOVERNORS' REPORT (INCORPORATING |
STRATEGIC REPORT) | |
| STATEMENT OF GOVERNORS' RESPONSIBILITIES |
13 | |
| INDEPENDENT AUDITOR'S REPORT | 14 | |
| STATEMENT OF FINANCIAL ACTIVITIES | 17 | |
| BALANCE SHEET | 18 | |
| CASH FLOW STATEMENT | 19 | |
| NOTES TO THE FINANCIAL STATEMENTS | 20 |
| Governors | Ms H Regan (Chairman) | |||
| Mrs L Keating (Deputy Chairman) |
||||
| Mr A 1 Cawthorne | ||||
| Mr A W G Ford | ||||
| Mrs 1 Ginger | ||||
| Mrs C Hargrove | ||||
| Mr R Khiroya | ||||
| Mrs N Moola |
||||
| Mr G L Palin | ||||
| Dr K V Young | ||||
| Headmaster | 1 Gray | |||
| Bursar | M Honeybourne | |||
| Company | number | 00678091 | ||
| Charity number | 311076 | |||
| Registered | office and principal | address | York House School | |
| Sarratt Road | ||||
| Croxley Green | ||||
| Rickmansworth | ||||
| WD34 4LW | ||||
| Auditors | Haysmacintyre | LLP | ||
| 10Queen Street Place | ||||
| London | ||||
| EC4R 1AG | ||||
| Bankers | HS8C 8ank pic | |||
| 73 High Street | ||||
| Watford | ||||
| Hertfordshire | ||||
| WD17 2DS |
| Notes | Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|---|
| Funds | Funds | 2023 | 2022 | |||
| f | f | |||||
| INCOME FROM: | ||||||
| Investments | 3 | 3 | ||||
| Charitable activities |
6 | 5,668,386 | 5,668,386 | 5,446,635 | ||
| Total income | 5,668,389 | 5,668,389 | 5,446,635 | |||
| EXPENDITURE ON: | ||||||
| Raising funds | 180,676 | 180,676 | 109,508 | |||
| Charitable activities |
5,447,818 | 5,447,818 | 5,237,752 | |||
| Total expenditure | 7 | 5,628,494 | 5,628,494 | 5,347,260 | ||
| Net income for the year / net movement | in | 39,895 | 39,895 | 99,375 | ||
| funds | ||||||
| Fund balances brought | forward | 4,320,112 | 4,320,112 | 4,220,737 | ||
| Fund balances carried | forward | 4,360,007 | 4,360,007 | 4,320,112 |
| Notes | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|
| FIXED ASSETS | ||||||
| Tangible Assets | 8,370,091 | 8,422,929 | ||||
| CURRENT ASSETS | ||||||
| Debtors | 10 | 361,985 | 140,519 | |||
| Cash at bank and in | hand | 382,428 | 168,039 | |||
| 744,413 | 308,558 | |||||
| CURRENT LIABILITIES | ||||||
| Creditors due within | one year | (1,347,065) | (1,011,854) | |||
| NET CURRENT ASSETS/(LIABILITIES) | (602,652) | (703,296) | ||||
| TOTAL ASSETS LESSCURRENT LIABILITIES | 7,767,439 | 7,719,633 | ||||
| LONG TERM LIABILITIES | ||||||
| Creditors due after one year | 12 | (3,407,432) | (3,399,521) | |||
| NET ASSETS | 4,360,007 | 4,320,112 | ||||
| REPRESENTED BY: | 4,360,007 | 4,320,112 | ||||
| Unrestricted genera |
I funds | 4,360,007 | 4,320,112 |
| Notes | 2023 | 2022 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating | activities: | |||||||||
| Net income/expenditure | for the year | 39,895 | 99,375 | |||||||
| Adjustments for: |
||||||||||
| Depreciation charges |
269,487 | 259,540 | ||||||||
| Interest paid on loan |
180,065 | 107,240 | ||||||||
| Loss on disposal | 333 | |||||||||
| (Increase)/ Decrease in debtors |
(221,466) | (23,151) | ||||||||
| Increase/(Decrease) in creditors |
481,816 | (603,677) | ||||||||
| Net cash provided by/(used |
in) operating | activities | 750,130 | (160,673) | ||||||
| Cash flows from investing | activities: | |||||||||
| Purchase oftangible fixed | assets | (216,983) | (391,731) | |||||||
| Net cash provided by/(used |
in) investing | activities | (216,983) | (391,731) | ||||||
| Cash flows from financing | activities: | |||||||||
| Interest paid on loan |
(180,065) | (107,240) | ||||||||
| Repayments of borrowing |
(138,693) | (36,444) | ||||||||
| Draw down of loan | 669,309 | |||||||||
| Net cash provided by/(used |
in) financing | activities | (318,758) | 525,625 | ||||||
| Change in cash and cash equivalents |
in the | year | 214,389 | (26,779) | ||||||
| Cash and cash equivalents | at the beginning | ofthe | year | 168,039 | 194,818 | |||||
| Cash and cash equivalents | at the end | of | the year | 382,428 | 168,039 | |||||
| Analysis ofcash and cash | equivalents | |||||||||
| Cash at bank and in hand |
382,428 | 168,039 | ||||||||
| Total cash and cash equivalents | 382,428 | 168,039 | ||||||||
| Analysis ofchanges in net debt |
||||||||||
| At 1September 2022 |
Cash flows | Non-cash movement |
At 31August 2023 | |||||||
| E | E | |||||||||
| Cash and cash equivalents | ||||||||||
| Cash | 168,039 | 214,389 | 382,428 | |||||||
| 168,039 | 214,389 | 382,428 | ||||||||
| Borrowing s | ||||||||||
| Debt due within one year | (148,033) | 138,693 | (132,367) | (141,707) | ||||||
| Debt due after one year | (3,055,522) | 132,367 | (2,923,155) | |||||||
| (3,203,555) | 138,693 | (3,064,862) | ||||||||
| Total | (3,035,516) | 353,082 | (2,682,434) |
| 4 NET INCOME/(EXPENDITURE) | |||
|---|---|---|---|
| This is stated after charging: | 2023 | 2022 | |
| E | E | ||
| Operating lease payments |
90,949 | 88,624 | |
| Depreciation | 269,487 | 259,540 | |
| Auditors' remuneration -audit services |
15,040 | 13,000 | |
| Auditors' remuneration —non-audit |
services | 1,760 | 1,600 |
| TOTAL | TOTAL | ||
|---|---|---|---|
| 2023 | 2022 | ||
| E | E | ||
| Gross school fees | 5,690,047 | 5,487,032 | |
| less bursaries and allowances |
(257,754) | (286,304) | |
| Net school | fees | 5,432,293 | 5,200,728 |
| Add: | |||
| Registration | fees | 8,900 | 12,600 |
| Fees in lieu | of notice | 10,690 | 10,328 |
| Extras income | 14,355 | 19,585 | |
| Other ancillary income | 91,837 | 41,104 | |
| Recharged | income | 110,311 | 162,290 |
| 5,668,386 | 5,446,635 |
| 7 | ANALYSIS | OF EXPENDITURE | OF EXPENDITURE | |||||
|---|---|---|---|---|---|---|---|---|
| Staff | Depreciation | Other | Total | Total | ||||
| Costs | costs | 2023 | 2022 | |||||
| E | E | E | E | E | ||||
| Cost of raising funds: | ||||||||
| Financing | costs | 180,676 | 180,676 | 109,508 | ||||
| Total cost | of raising funds | 180,676 | 180,676 | 109,508 | ||||
| Charitable | expenditure | |||||||
| Education | ||||||||
| Teaching | 3,013,336 | 89,314 | 314,130 | 3,416,780 | 3,259,829 | |||
| Welfare | 378,382 | 378,382 | 332,636 | |||||
| Premises | 111,135 | 180,173 | 617,175 | 908,483 | 781,010 | |||
| Support and governance | 425,285 | 316,661 | 741,946 | 864,277 | ||||
| Total charitable | expenditure | 3,549,755 | 269,487 | 1,626,349 | 5,445,592 | 5,237,752 | ||
| Total expenditure | 3,549,755 | 269,487 | 1,807,026 | 5,626,268 | 5,347,260 |
| Analysis | ofsupport and | governance | governance | costs: | costs: | 2023 | 2022 |
|---|---|---|---|---|---|---|---|
| E | E | ||||||
| Governance costs: |
|||||||
| Auditors | remuneration | for audit services | 15,040 | 13,000 | |||
| Total governance costs |
15,040 | 13,000 | |||||
| Support | costs: | ||||||
| Auditors' | remuneration | for non-audit | services | 1,760 | 1,600 | ||
| Support | staff wages, national | insurance | and pension | 425,285 | 374,691 | ||
| Other support costs | 314,901 | 487,986 | |||||
| 741,946 | 864,277 |
| time equivalent | employees during the year was: |
||
|---|---|---|---|
| 2023 | 2022 | ||
| Number | Number | ||
| Teaching | 61 | 64 | |
| Premises | 4 | 5 | |
| Support | 9 | 10 | |
| 74 | 79 | ||
| The aggregate | payroll costs for the year were as follows: | ||
| 2023 | 2022 | ||
| E | E | ||
| Wages and salaries | 2,810,538 | 2,628,783 | |
| Social security | costs | 297,780 | 284,449 |
| Pension costs | 441,438 | 483,704 | |
| 3,549,755 | 3,396,936 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| Number | Number | |||
| E60,000 - E69,999 | 2 | 1 | ||
| E70,000 - E79,999 | 1 | 1 | ||
| E110,000 - E119,999 | ||||
| E130,000 —E139,999 |
| benefits were: |
schem | es. C |
ontributions | payable by the |
company to |
those schemes fo |
r higher p |
aid | employ | ees |
|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||||||
| E | E | |||||||||
| Defined benefits schemes | 47,582 | 49,438 | ||||||||
| 47,582 | 49,438 | |||||||||
| The key | management | personnel | of the school | are detailed | in the Governors' | Report | and | Legal | and | |
| Administra | tive | Information. | ||||||||
| 2023 | 2022 | |||||||||
| E | E | |||||||||
| Aggregate | employee | benefits of | key management | personnel | 546,334 | 534,834 |
| 9 | TANGIBLE FIXEDASSETS | TANGIBLE FIXEDASSETS | ||||
|---|---|---|---|---|---|---|
| Freehold | Fixtures & | Total | ||||
| Property | Fittings | |||||
| E | E | |||||
| Cost | ||||||
| At 1September 2022 | 9,017,541 | 1,497,895 | 10,515,436 | |||
| Additions | 82,647 | 134,336 | 216,983 | |||
| Disposals | (774) | (774) | ||||
| At 31August | 2023 | 9,100,188 | 1,631,457 | 10,731,645 | ||
| Depreciation | ||||||
| At 1September 2022 | 1,382,105 | 710,403 | 2,092,508 | |||
| Charge for year | 180,173 | 89,314 | 269,487 | |||
| Accumulated | depreciation | on disposals | (441) | (441) | ||
| At 31August | 2023 | 1,562,278 | 799,276 | 2,361,554 | ||
| Net Book Value | ||||||
| At 31August | 2023 | 7,537,909 | 832,181 | 8,370,091 | ||
| At 31August | 2022 | 7,635,436 | 787,493 | 8,422,929 |
| 10 | DEBTORS | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| E | E | |||
| Trade debtors | 250,095 | 81,019 | ||
| Prepayments | and accrued income | 60,288 | 53,698 | |
| Other debtors | 51,602 | 5,802 | ||
| 361,985 | 140,519 | |||
| 11 | CREDITORS: due within one year | |||
| 2023 | 2022 | |||
| E | E | |||
| Bank loan (see note 14) | 141,707 | 148,033 | ||
| Trade creditors | 138,897 | 149,372 | ||
| Other creditors | 64,472 | 46,227 | ||
| Accruals | 17,306 | 16,260 | ||
| Fees in Advance | 913,725 | 571,115 | ||
| Deposits | 8,475 | |||
| Other taxes and social security | 70,958 | 72,372 | ||
| 1,347,065 | 1,011,854 |
| Creditors: due a | fter one year | ||
|---|---|---|---|
| 2023 | 2022 | ||
| E | E | ||
| Deposits | 212,225 | 184,650 | |
| Fees in advance | (long term) | 272,052 | 159,349 |
| Bank Loan | 2,923,155 | 3,055,522 | |
| 3,407,432 | 3,399,521 |
| 13BANK LOANS | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| E | E | |||
| Bank loans are repayable | in capital instalments | as follows: | ||
| Less than one year | 141,707 | 148,033 | ||
| Between one 8 five years | 566,828 | 592,128 | ||
| Over five years | 2,353,313 | 2,463,394 | ||
| 3,061,848 | 3,203,555 |
| At 31August 2023the company had total commitm operating leases payable as follows: |
ents under non-cancellable |
|
|---|---|---|
| 2023 | 2022 | |
| E | E | |
| Within one year | 81,119 | 88,624 |
| Between one and five years | 225,908 | 316,117 |
| 307,027 | 404,741 |