| Page | |||
|---|---|---|---|
| Governors' | report | ||
| Independent Auditors' |
Report | 15 | |
| Statement | ofFinancial | Activities | 18 |
| Company | Balance Sheets | 19 | |
| Cash Flow | Statement | 20 | |
| Notes to the Financial | Statements | 21 |
| Unrestricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| Note | 2022 | 2022 | 2022 | 2021 | |||
| E | E | E | |||||
| INCOME FROII: | |||||||
| Donations and grants |
6,000 | ||||||
| Charitable activities: |
|||||||
| School operating | income | 4 | 7,146,538 | 7,146,538 | 6,801,563 | ||
| Investment income |
5 | 1,999 | 7,157 | 9,156 | 6,552 | ||
| TOTAL INCOME | 7,148,537 | 7,157 | 7,155,694 | 6,814,115 | |||
| EXPENDITURE ON: | |||||||
| Charitable activities |
|||||||
| School operating | costs | (6,713,496) | (25,769) | (6,739,265) | (6,238,623) | ||
| TOTAL EXPENDITURE | (6,713,496) | (25,769) | (6,739,265) | (6,238,623) | |||
| NET INCOME BEFORE INVESTMENT | |||||||
| GAINS 8 LOSSES | 442,198 | (25,769) | 416,429 | 575,492 | |||
| Net (losses)/gains on investment |
assets | 11 | (9,439) | (9,439) | 32,151 | ||
| NET MOVEMENT IN FUNDS FOR THE |
435,041 | (28,051) | 406,990 | 607,643 | |||
| YEAR | |||||||
| Total funds at 1 September 2021 | 16 | 9,247,869 | 296,838 | 9,544,707 | 8,937,064 | ||
| TOTAL FUNDS AT | 31AUGUST | 2022 | 16 | 9,682,910 | 268,787 | 9,951,697 | 9,544,707 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Note | F | E | ||
| FIXED ASSETS | ||||
| Intangible assets |
9 | |||
| Tangible assets | 10 | 5,155,658 | 5,156,793 | |
| Investments | 11 | 186,228 | 195,666 | |
| 5,341,886 | 5,352,459 | |||
| CURRENT ASSETS | ||||
| Debtors | 12 | 214,232 | 183,259 | |
| Bank | 5,867,111 | 5,406,311 | ||
| 6,081,343 | 5,589,570 | |||
| CREDITORS: amounts | falling due within | |||
| one year | 13 | (942,788) | (792,328) | |
| NET CURRENT (LIABILITIES)/ASSETS | 5,138,555 | 4,797,242 | ||
| TOTAL ASSETS LESS | CURRENT LIABILITIES | 10,480,441 | 10,149,701 | |
| CREDITORS: amounts | falling due after | |||
| more than one year | 15 | (528,744) | (604,994) | |
| NET ASSETS | 9,951,697 | 9,544,707 | ||
| CHARITY FUNDS | 16 | |||
| Restricted funds: | ||||
| Scholarship Fund |
230,908 | 251,835 | ||
| Bursary Fund | 37,879 | 45,003 | ||
| Unrestricted funds: |
||||
| General fund |
8,682,910 | 8,247,869 | ||
| Fiftieth Anniversary | Fund | 1,000,000 | 1,000,000 | |
| 9,951,697 | 9,544,707 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Note | E | ||||||
| Cash flows from operating | actives: | ||||||
| Net cash generated from operating activities |
18 | 853,114 | 899,012 | ||||
| Cash flows from investing | activities: | ||||||
| Dividends, interest and rents from investments |
9,156 | 6,552 | |||||
| Purchase of property, plant |
and equipment | (325,220) | (68,416) | ||||
| Net cash used in investing |
activities | (316,064) | (61,864) | ||||
| Cash flows from financing | activities: | ||||||
| Movement on fees in advance |
(72,500) | (26,256) | |||||
| Movement on deposits from |
parents | (3,750) | (23,170) | ||||
| (76,250) | (49,426) | ||||||
| Change in cash and cash |
equivalents | in the reporting | |||||
| period | 460,800 | 787,722 | |||||
| Cash and cash equivalents | at the beginning | ofthe reporting | |||||
| period | 5,406,311 | 4,618,589 | |||||
| Cash and Cash Equivalents at the end |
of | the reporting | |||||
| period | 5,867,111 | 5,406,311 |
| Investment | Income | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | |||
| E | F | F | F | |||||
| Bank interest | 1,999 | 1,999 | 54 | 54 | ||||
| Income from | ||||||||
| investments | 7,157 | 7,157 | 6,498 | 6,498 | ||||
| 1,999 | 7,157 | 9,156 | 54 | 6.498 | 6,552 | |||
| School Operating Costs and Governance |
Costs | |||||||
| 2022 | 2021 | |||||||
| Direct Costs | ||||||||
| Teaching: | Staff costs | 3,685,313 | 3,436,137 | |||||
| Teaching: | Operating lease rentals |
48,630 | 67,491 | |||||
| Teaching: | Other costs | 443,367 | 341,194 | |||||
| Welfare: Other costs | 377,657 | 311,929 | ||||||
| Premises: | Staff Costs | 286,552 | 276,060 | |||||
| Premises: | Other costs | 726,267 | 691,089 | |||||
| Scholarships, discounts |
and bursaries | awarded | 61,336 | 109,643 | ||||
| Support Costs | ||||||||
| Wages and | salaries —support |
507,456 | 444,198 | |||||
| Amortisation | 4,056 | |||||||
| Depreciation | 326,385 | 319,047 | ||||||
| Audit fee | 18,835 | 16,740 | ||||||
| Accountancy and advisory |
5,135 | |||||||
| Operating lease rentals Other costs * |
27,936 229,531 |
23,893 192,011 |
||||||
| 6,739,265 | 6,238,623 |
| NET MO | VEMENT IN F |
UNDS | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| This is stated after charging: | F | ||||
| Auditors' | remuneration: | audit | 17,035 | 16,769 | |
| Auditors' | remuneration: | non-audit | fees | 1,800 | 1,740 |
| The number of employees | whose remuneration | for the year fell within the following | bands was: | |
|---|---|---|---|---|
| 2022 | 2021 | |||
| Number | Number | |||
| f60,000 to 869,999 | 5 | 4 | ||
| 870,000 tof79,999 | 2 | |||
| f80,000 tof89,999 | ||||
| F120,000 to f129,999 |
| Intangible Fixed Assets |
||
|---|---|---|
| Website | Total | |
| E | ||
| Cost: | ||
| 1 September 2021 and 21 August 2022 | 24,336 | 24,336 |
| Amortisation: | ||
| 1 September 2021 | 24,336 | 24,336 |
| Charge for the year | ||
| 31 August 2021 | 24,336 | 24,336 |
| Net book Value: | ||
| 31 August 2022 | ||
| 31 August 2021 |
| Tangible | Fixed Assets | Assets | Fixtures | |||
|---|---|---|---|---|---|---|
| under | and | |||||
| Freehold | construction | fittings | Motor | Total | ||
| E | E | F | ||||
| Cost: | ||||||
| 31 August | 2021 | 9,531,393 | 2,452,836 | 73,251 | 12,057,480 | |
| Additions | 37,619 | 31,809 | 244,872 | 10,920 | 325,220 | |
| Disposals | (539,136) | (539,136) | ||||
| 31 August | 2022 | 9,569,012 | 31,809 | 2,158,572 | 84,171 | 11,843,564 |
| Depreciation: | ||||||
| 31 August | 2021 | 4,537,349 | 2,290,087 | 73,251 | 6,900,687 | |
| Provided | during the year | 208,381 | 116,381 | 1,593 | 326,355 | |
| Disposals | (539,136) | (539,136) | ||||
| 31 August | 2022 | 4,745,730 | 1,867,332 | 74,844 | 6,687,906 | |
| Net book | value: | |||||
| 31 August | 2022 | 4,823,282 | 31,809 | 291,240 | 9,327 | 5,155,658 |
| 31 August | 2021 | 4,994,044 | 162,749 | 5,156,793 |
| Investments | ||
|---|---|---|
| 2022 | 2021 | |
| F | E | |
| 1 September 2021 | 195,667 | 163,515 |
| Gains and Losses | (9,439) | 32,151 |
| 31 August 2022 | 186,228 | 195,666 |
| 2022 | 2021 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| F | |||||||||||
| CCLA Investment | Management | Ltd —COIF Charities | Investment | Fund | |||||||
| 111,582 | 116,181 | ||||||||||
| MBG —Equities | Investment | fund | for Charities | ||||||||
| 74,646 | 79,485 | ||||||||||
| 186,228 | 195,666 | ||||||||||
| DEBTORS | |||||||||||
| 2022 | 2021 | ||||||||||
| E | |||||||||||
| Trade debtors | 102,829 | 32,490 | |||||||||
| Prepayments | and | accrued | |||||||||
| income | 111,403 | 150,769 | |||||||||
| 214,232 | 183,259 | ||||||||||
| CREDITORS: | amounts | falling | due within one year | ||||||||
| 2022 | 2021 | ||||||||||
| E | |||||||||||
| Trade creditors | 81,860 | 121,390 | |||||||||
| Parental deposits |
147,500 | 82,500 | |||||||||
| Other taxation | and | social | security | 91,741 | |||||||
| Pension contributions | payable | 71,250 | |||||||||
| Other creditors | 5,463 | 2,733 | |||||||||
| Accruals | 60,273 | 26,595 | |||||||||
| Deferred income | 484,701 | 559,110 | |||||||||
| 942,788 | 792,328 |
| DEFERRED INCOME | DEFERRED INCOME | 2022 | 2021 | |||
|---|---|---|---|---|---|---|
| F | ||||||
| Movements in deferred |
income were as follows: | |||||
| Deferred income |
at the | start | ofthe year | 559,110 | 561,772 | |
| Income received | in advance | 484,701 | 559,110 | |||
| Deferred income | released | (559,110) | (561,772) | |||
| Deferred income |
at end | of year | 484,701 | 559,110 | ||
| Deferred income | represents | fee income received | in advance. | |||
| CREDITORS: amounts | falling due within more than one year | |||||
| 2022 | 2021 | |||||
| E | ||||||
| Deferred income | 70,000 | 73,750 | ||||
| Deposits from parents | 458,744 | 531,244 | ||||
| 528,744 | 604,994 |
| 16. | THE FUNDS OF THE CHARITY | THE FUNDS OF THE CHARITY | |||||
|---|---|---|---|---|---|---|---|
| 2022 | Brought | Investment | Carried | ||||
| Forward | Income | Expenditure | gains | Forward | |||
| E | F | ||||||
| RESTRICTED FUNDS | |||||||
| Scholarship Fund |
251,835 | 7,157 | (18,645) | (9,439) | 230,908 | ||
| Bursary Fund | 45,003 | (7,124) | 37,879 | ||||
| 296,838 | 7,157 | (25,769) | (9,439) | 268,787 | |||
| UNRESTRICTED | FUNDS | ||||||
| General Fund |
8,247,869 | 7,148,537 | (6,713,496) | 8,682,910 | |||
| Fiftieth Anniversary | Fund | 1,000,000 | 1,000,000 | ||||
| Total Unrestricted | Funds | 9,247,869 | 7,148,537 | (6,713,496) | 9,682,910 | ||
| Total funds | 9,544,707 | 7,155,694 | (6,739,265) | (9,439) | 9,951,697 |
| 2021 | Brought | Investment | Carried | |||
|---|---|---|---|---|---|---|
| Forward | Income | Expenditure | gains | Forward | ||
| f. | E | E | ||||
| RESTRICTED FUNDS | ||||||
| Scholarship Fund |
213,186 | 6,498 | 32,151 | 251,835 | ||
| Bursary Fund | 45,003 | 45,003 | ||||
| 258,189 | 6,498 | 32,151 | 296,838 | |||
| UNRESTRICTED | FUNDS | |||||
| General Fund |
7,678,875 | 6,807,617 | (6,238,623) | 8,247,869 | ||
| Fiftieth Anniversary | Fund | 1,000,000 | 1,000,000 | |||
| Total Unrestricted | Funds | 8,678,875 | 6,807,617 | (6,238,623) | 9,247,869 | |
| Total funds | 8,937,064 | 6,814,115 | (6,238,623) | 32,151 | 9,544,707 |
| ANALYS | IS | OF NET | ASSETS B | ETWEEN FUNDS -2022 | ||||
|---|---|---|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | ||||||
| funds | funds | funds | ||||||
| 2022 | 2022 | 2022 | ||||||
| F | F | |||||||
| Tangible | fixed assets | 5,155,658 | 5,155,658 | |||||
| Investments | 186,228 | 186,228 | ||||||
| Net Current | assets | 82,559 | 5,055,996 | 5,138,555 | ||||
| Creditors | due in more |
than one year | (528,744) | (528,744) | ||||
| 268,787 | 9,657,141 | 9,951,697 | ||||||
| ANALYSIS | OF NET ASSETS BETWEEN FUNDS —2021 | |||||||
| Restricted | Unrestricted | Total | ||||||
| funds | funds | funds | ||||||
| 2021 | 2021 | 2021 | ||||||
| F | F | E | ||||||
| Intangible | 8 | Tangible | fixed assets | 5,156,793 | 5,156,793 | |||
| Investments | 195,666 | 195,666 | ||||||
| Net Current | assets | 101,172 | 4,696,070 | 4,797,242 | ||||
| Creditors | due in more |
than one year | (604,994) | (604,994) | ||||
| 296,838 | 9,247,869 | 9,544,707 | ||||||
| NET CASH | FLOW FROM OPERATING ACTIVITIES | 2022 | 2021 | |||||
| E | ||||||||
| Net movement in funds |
406,990 | 607,643 | ||||||
| Dividends, | interest and | rents from | investments | (9,156) | (6,552) | |||
| Amortisation | charges | 4,056 | ||||||
| Depreciation | charges | 326,355 | 319,047 | |||||
| Net losses | /(gains) on |
investment | assets | 9,439 | (32,151) | |||
| (Increase) | / | Decrease | in debtors | (30,974) | 28,885 | |||
| Increase / |
(Decrease) | in creditors | 150,460 | (21,916) | ||||
| NET CASH | INFLOW | FROM OPERATIONS | 853,114 | 899,012 |
| COMMITME | TS UNDER OPER |
ATING LEAS | ES | 2022 | 2021 | |
| F | ||||||
| At 31August | 2022, the Company | was committed | to make the following | |||
| total payments | under non-cancellable operating |
leases: | ||||
| In respect of | motor vehicles and | plant and machinery | leases— | |||
| Amounts due |
within one year | 21,678 | 21,678 | |||
| Amounts due |
between one and |
five years | 25,411 | 47,089 | ||
| 47,089 | 68,767 |