##
|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|9|
|Report ofthe Independent
Auditors|10|to|13|
|Stateruent ofFinancial Activities||14||
|Balance Sheet||||
|Cash Flow Stateruent||16||
|Notes to the Cash Florv Statement||17||
|Notes to the Financial Statements|18|to|27|
|Detailed Statement ofFinancial Activities|28|to|30|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||fund|fund|funds|funds|
||||Notes||8||f.|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations
and legacies|||2|1,500||1,500|17,704|
|Charitable
activities|||5|||||
|Tuition fees||||3,536,568||3,536,568|3,071,203|
|Other trading
activities
Investment
income|||3
4|96,192
~255 1||96,192
2,551|146,583
4474|
|Total||||3,636,811||3,636,811|3,239,964|
|EXPENDITURE ON||||||||
|Charitable
activities||||||||
|Teaching
Catering
Premises||||1,972,912
169,227
659,245||1,972,912
169,227
659,245|1,927,630
150,253
547,358|
|Support||||585,742||585,742|464,174|
|Total||||3,387, 126||3,387,126|3,089,415|
|NET INCOME||||249,685||249,685|150,549|
|RECONCILIATION|OF FUNDS|||||||
|Total funds brought|fonvard|||2,006,466|55,299|2,061,765|1,911,216|
|TOTAL FUNDS CARRIED FORWARD||||~2 256,151|~55 299|2 311450|2 061 765|
##
##
||||CASH|FLOW STATEMENT||
|---|---|---|---|---|---|
||||for the|ear ended 31Au ust 2021||
|||||2021|2020|
||||Notes|||
|Cash flows from|operating|activities||||
|Cash generated
tram operations
Interest paid||||555,724
~22 344)|180,398
~23.2tl1|
|Net cash provided|by operating
activities|||533,380|157,197|
|Cash flows from|iuvesting|activities||||
|Purchase oftangible
fixed assets||||(156,388)|(17,289)|
|Interest received||||285|1,658|
|Net cash used in investing||activities||~156,103)|~15,631)|
|Cash flows from|financing|activities||||
|New loans in year
Loan repayments|in year|||94,166
~29,294)|~23 673)|
|Net cash provided|by/(used|in) financing|activities|64 872|~23 673)|
|Change in cash and cash||equivalents|in the|||
|reporting
period||||442,149|117,893|
|Cash and cash equivalents||at the beginning||||
|ofthe reporting|period|||894,018|776 125|
|Cash and cash equivalents||at the end|ofthc|||
|reporting
period||||~1336 167|894,018|
##
##
##
||||2021|2020|
|---|---|---|---|---|
|||||f.|
|Net income for thc
Activities)|reporting|period (as pcr the Statement ofFinancial|249,685|150,549|
|Adjustments
for:
Depreciation
charges
Interest received|||159,455
(285)|133,491
(1,658)|
|Interest paid
Increase in debtors|||22,344
(14,728)|23,201
(68,209)|
|Increase/(decrease)|in creditors||~139 253|~56,976)|
|Net cash provided|by operations||~555 724|~180398|
##
##
|ANALYSIS OF CHAN|GES IN NKT FUNDS||||
|---|---|---|---|---|
|||At 1.9.20|Cash flow|At 31.8.21|
||||f,|f.|
|Net cash
Cash at bank and in hand||~894 018|442,149|~1,336 167|
|||~894018|442,149|1,336 167|
|Debt|||||
|Debts falling due within
Debts falling due atter I|1 year
year|(29,117)
~447 210)|(12,695)
~52 178)|(41,812)
~499 388|
|||~476.327)|~64 873|~843 200)|
|Total||417,691|~377 276|794,967|
##
##
##
##
##
##
##
##
##
##
##
|||||2021|2020|
|---|---|---|---|---|---|
||Donations|||1,500|17704|
|3.|OTHER TRADING ACTIVITIES|||||
|||||2021|2020|
||Extras and entrance|fees||45,472|40,927|
||Activities week|||26,661|8,731|
||Government
grants|||~24 059|~96925|
|||||96,192|146583|
|4.|INVESTMENT INCOME|||||
|||||2021|2020|
||Rents received|||2,266|2,816|
||Deposit account interest|||285|~1658|
|||||~255 1|~4474|
||INCOME FROM|CHARiTABLE ACTIVITIES||||
|||||2021|2020|
||||Activity|||
||General tuition||Tuition fees|3,579,704|3,298,765|
||Support fees
Scholarships
and bursaries||Tuition fees
Tuition fees|352,008
~395,144)|231,991
~459,553)|
|||||~3536,568|~3071203|
##
##
##
##
||||||Support||
|---|---|---|---|---|---|---|
|||||Direct|costs (see||
|||||Costs|note 7)|Totals|
||||||f,||
|Teaching||||1,972,912||1,972,912|
|Catering|||||169,227|169,227|
|Premises|||||659,245|659345|
|Support|||||~585 742|~585 742|
|||||1,972,912|~1414,214|~3387,126|
|SUPPORT|COSTS||||||
||||||Governance||
|||Management|Finance|Other|costs|Totals|
||||8|||f,|
|Catering||||169,227||169,227|
|Premises
Support||529,322|2,074|659,245|~54 346|659,245
585,742|
|||~529 322|~2074|828,472|54,346|~1414214|
|Net income/(expenditure)|Net income/(expenditure)|Net income/(expenditure)|is stated atter charging/(crediting):|||
|---|---|---|---|---|---|
|||||2021|2020|
|||||f.|f,|
|Auditors'
remuneration||||7,960|5,580|
|Depreciation
-|owned|assets||159,454|133,491|
|Other operating|leases|||201,935|150,448|
##
##
##
##
|STAFF COSTS||||
|---|---|---|---|
|||2021|2020|
|Wages and salaries||1,836,315|1,652,965|
|Social security costs||157,494|134,810|
|Teachers' pension|contributions|198,161|246,876|
|Stakeholder
pension costs||16,385|12,120|
|Health insurance||5 405|7,735|
|||2,213760|2.054.5136|
|The average
monthly
number ofemployees
during|the year was as follows:||
|---|---|---|
||2021|2020|
|Teaching|60|53|
|Administration|10|9|
|Domestic|7|8|
|Premises|3|1|
||80|71|
|||2021|2020|
|---|---|---|---|
|f90,001|- f,100,000|I|1|
##
|COMPARATIVES FOR THK STATEMENT Oli FINANCIAL ACTIVITIES|COMPARATIVES FOR THK STATEMENT Oli FINANCIAL ACTIVITIES|COMPARATIVES FOR THK STATEMENT Oli FINANCIAL ACTIVITIES|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||fund|fund|funds|
|INCOME|AND ENDOWMENTS|IiROM|||
|Donations|and legacies|14,513|3,191|17,704|
|Charitable|activities||||
|Tuition fees||3,071,203||3,071,203|
|Other trading
activities
Investment
income||146,583
~4474||146,583
~4474|
|Total||3,236,773|3,191|3,239,964|
|EXPENDITURE ON|||||
|Charitable|activities||||
|Teaching||1,927,630||1,927,630|
|Catering||150353||150,253|
|Premises||547,358||547,358|
##
##
|11.|COMPARATIVES FOR THK STATEMENT OF FINANCIAL ACTIVITIES - continued|COMPARATIVES FOR THK STATEMENT OF FINANCIAL ACTIVITIES - continued|COMPARATIVES FOR THK STATEMENT OF FINANCIAL ACTIVITIES - continued|COMPARATIVES FOR THK STATEMENT OF FINANCIAL ACTIVITIES - continued||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||fund|fund|funds|
|||||8||
||Support||464,174||464,174|
||Total||3,089,415||3,089,415|
||NET INCOME||147,358|3,191|150,549|
||RECONCILIATION|OF FUNDS||||
||Total funds brought|fonvard|1,859,108|52,108|1,911,216|
||TOTAL FUNDS CARRIED FORWARD||~2,006 466|55299|~2061 765|
|12.|TANGIBLE FIXED|ASSETS||||
|||||Teaching||
||||Study|blocks 62|Astro|
||||centre|lab|turf|
||COST|||||
||At
1 September
2020
Additions||192,288|2,607,496
~17 319|112999|
||At 31August 2021||~192 288|~2624 815|~112999|
||DEPRECIATION|||||
||At I September 2020||192,288|601,591||
||Charge for year|||131,240|16,143|
||At 31 August 2021||~192 288|~732 831|~16 143|
||NET BOOK VALUE|||||
||At 31 August 2021|||1,891,984|96,856|
||At 31 August 2020|||2,005,905||
##
##
|12.|TANGIBLE|FIXEDASSETS - continued|FIXEDASSETS - continued||||
|---|---|---|---|---|---|---|
|||||Car park|Computer||
|||||& field|equipment|Totals|
||COST||||||
||At I September 2020
Additions|||67,626|~26 070|2,867,410
~156388|
||At 31 August|2021||~67 626|26,070|~3,023 798|
||DEPRECIATION||||||
||At I September 2020
Charge for year|||13,432
3,381|~8690|807,311
159,454|
||At 31 August|2021||16,813|8,690|~966765|
||NET BOOK
At 31 August|VALUE
2021||~50 813|17,380|~2057,033|
||At 31 August|2020||~54 194||~2060,099|
|13.|DEBTORS:|AMOUNTS|FALLING DUE WITHIN|ONE YEAR|||
||||||2021|2020|
||||||f.||
||Fee debtors||||73,721|75,852|
||Other debtors||||31,234||
||Prepayments|and accrued|income||~120 963|~135338|
||||||225,918|211,190|
|14.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR||||||
||||||2021|2020|
|||||||f|
||Bank loans and overdrahs||(see note 16l||41,812|29,117|
||Trade creditom||||41,944|85,098|
||Other creditors||||6,681|4,804|
||Fee deposits||||9,400|16,200|
||Fees paid in advance
Accrued expenses||||441,723
~89 220|307,008
~105 755|
||||||~630 780|~547 982|
##
##
##
##
##
|||2021|2020|
|---|---|---|---|
|Bank loans (see note 16)
Fee deposits
&
1 year||499,388
177,500|447,210
~108 350|
|||676,888|555,560|
|LOANS||||
|An analysis ofthe maturity|ofloans is given below:|||
|||2021|2020|
|Amounts
falling due within one year on demand:
Bank loans||41,812|~29 117|
|Amounts
falling between
Bank loans & I year|one and two years:|~499 388|447,210|
||||||Interest|rate||Total amount of|Total amount of|
|---|---|---|---|---|---|---|---|---|---|
||||Remaining|term
ofloan|payable
per
annum||Loan repayments
in
next year|loan drawn at 31
August 2021|loan drawn at 31
August 2020|
|||||||||f,|f.|
|Senior|school|loan||12years||2.6%|28,360|449,276|476,327|
##
##
##
##
|MOVEMENT|IN FUNDS||||||
|---|---|---|---|---|---|---|
||||||Net||
||||||movement|At|
|||||At 1.9.20|in funds|31.8.21|
|Unrestricted|funds||||||
|General
fund||||2,006,466|249,685|2,256,151|
|Restricted
funds|||||||
|Development|I'und|||55,299||55,299|
|TOTAL FUNDS||||2,061,765|~249 685|~2 311,450|
|Net movement|in funds, included||in the above are as follows:||||
|||||Incoming|Resources|Movement|
|||||resources|expended|in funds|
|||||f.|||
|Unrestricted|funds||||||
|General fund||||3,636,811|(3,387,126)|249,685|
|TOTAL FUNDS||||3,636,811|~3,387,126)|~249 685|
|Comparatives|for movement|in|funds||||
||||||Net||
||||||movement|At|
|||||At 1.9.19|in funds|31.8.20|
|Unrestricted|funds||||||
|General
fund||||1,859,108|147,358|2,006,466|
|Restricted
funds|||||||
|Development|fund|||52,108|3,191|55,299|
|TOTAL FUNDS||||~191L216|~150 549|~2,061 765|
##
##
##
|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|||f,||f.|
|Unrestricted|funds||||
|General
fund||3,236,773|(3,089,415)|147,358|
|Restricted funds|||||
|Development|fund|3,191||3,191|
|TOTAL FUNDS||3,239,964|~3,089,415)|~150549|
|||||Net||
|---|---|---|---|---|---|
|||||movement|At|
||||At 1.9.19|in funds|31.8.21|
||||f.|||
|Uarestricted||funds||||
|General|fund||1,859,108|397,043|2,256,151|
|Restricted
funds||||||
|Development||fund|52,108|3, 191|55,299|
|TOTAL|FUNDS||~191I 216|400 234|~2311 450|
|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|Unrestricted|funds||||
|General fund||6,873,584|(6,476,541)|397,043|
|Restricted funds|||||
|Development|fund|3,191||3,191|
|TOTALFUNDS||~6876 775|~6,476,541)|~400 234|
##
##
##
##
##
##
##
##
##
||2021|2020|
|---|---|---|
|INCOME AND ENDOWMENTS|||
|Donations
and legacies
Donations|1,500|17,704|
|Other trading
activities
Extras and entrance
fees
Activities week
Government
grants|45,472
26,661
24,059|40,927
8,731
~96 925|
||96,192|146,583|
|Investment
inconie
Rents received
Deposit account interest|2,266
285|2,816
1,658|
||2,551|4,474|
|Charitable
activities
General tuition|3,579,704|3,298,765|
|Support fees
Scholarships
and bursaries|352,008
~395 144)|231,991
~459 553)|
||~3,536568|3,071,203|
|Total incoming
resources|3,636,811|3,239,964|
|EXPENDITURE|||
|Charitable
activities|||
|Teaching salaries
Health insurance|1,558,529
5,405|1,449,551
7,735|
|Pensions|198,161|246,876|
|Text books and teaching aids
IT maintenance
and cousumables
Staff training
and travel
Sports and rent ofpitches|118,100
77,237
9,508
~5972|116,190
81,484
17,617
~8177|
||1,972,912|1,927,630|
|Support costs|||
|Mauagement
OAice salaries
Carried forward|287,389
287,389|204,030
204,030|
##
##
||2021|2020|
|---|---|---|
|Management
Brought forward
Driven wages
Pensions|287,389
22,276
16,385|204,030
19,652
12,120|
|Other operating
leases
Telephone
and postage
Stationery
and photocopying
Advertising
and recruitment
Sundries|31,935
16,145
34,731
9,354
9,370|25,694
13,126
32,745
16,540
6,234|
|Marketing
Subscriptions
Bad debts|13,960
20,685
4,977|14,048
20,348
19,763|
|Motor expenses
Accountancy
Hospitality
expenses
Speech day expenses
School prospectus
School inspection
Document
storage and security
Staff welfare|10,647
4,600
5,234
2,276
4,751
3,366
8,897|12,583
13,125
9,819
1,166
3,518
1,947
(213)|
|Bank loan interest|21,888|23,201|
|Astro loan interest|456||
||529,322|449,446|
|Finance|||
|Bank charges|2,074|2,187|
|Other|||
|Catering wages
Groundsman
wages
Other operating
leases
Rates and water|97,296
28,319
170,000
29,607|86,827
27,717
124,754
26,918|
|Insurance|30,633|36,630|
|Light and heat
School lunches|25,161
71,931|24,866
63,426|
|Cleaning
Property
repairs
Household
maintenance|41,238
53,134
55,085|34,904
30,064
28,150|
|Major refurbishments
Depreciation oftangible fixed assets|66,613
~159455|79,864
~133 491|
||828,472|697,611|
|Governance
costs|||
|Auditors'
remuneration|7,960|5,580|
|Carried
forward|7,960|5,580|
##
##
|||2021|2020|
|---|---|---|---|
|Governance
costs
Brought forward
Professional
fees||7,960
46,386|5,580
6,961|
|||54,346|~12 541|
|Total resources|expended|~3,387 126|~3089,415|
|Net income||249,685|150,549|