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|CONTENTS|||Page|
|---|---|---|---|
|Reference and Administrative||Information||
|Chair's Statement|||2-3|
|Governors'
Report|||4-12|
|Independent
Auditor's|Report||13-14|
|Consolidated
Statement|ofFinancial Activities||15|
|Balance Sheets|||16|
|Consolidated
Statement|ofCash flows||17|
|Accounting
Policies|||18 - 20|
|Notes to the Financial Statements|||21-32|
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|||2021|2020||||
|---|---|---|---|---|---|---|
|UK energy use kWh||4,664,400|4,309,719|School and Leisure Centre|||
|||||Gas oil electricit|and fuel||
|Associated greenhouse|gas emissions|1,107tormes|1,052tounes||||
|Tonnes CO2
ivalent|||||||
|Intensity
ratio||0.76tonnes|0.73 tonnes|The intensity
ratio|measures|energy usage|
|Emissions per pupil: 1,461pupils||per pupil|per pupil|compared with an|appropriate|business|
|||||metric.|||
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||||Designated||||
|---|---|---|---|---|---|---|
||||Non charitable||||
|||Unrestricted|trading|Restricted|||
|||Funds|activities|Ponds|2021|2020|
||Notes||||8||
|INCOME FROM:|||||||
|Charitable
activities:|||||||
|Tuihon fees|1|24,368,442|||24,368,442|23,659,789|
|Other school income|2|590,236|||590,236|566,601|
|Donations
and legacies||196,982||2,790|199,772|355,531|
|Other trading activities|3|153,871|536,759||690,630|787,681|
|Investments||1,537|||1,537|10,295|
|Total Income||25,311,068|536,759|2,790|25,850,617|25,379,897|
|EXPENDITURE ON:|||||||
|Raising funds||175,241|566,358||741499|808,244|
|Charitable
activities||24,658,262||22,463|24,680,725|24,002,984|
|Total Expenditure|4|24,833,503|566,358|22,463|25,422,324|24,811,228|
|Net income before transfers||477,565|(29,599)|(19,673)|428,293|568,669|
|Transfers|13||||||
|Net movement
in funds||477,565|(29,599)|(19,673)|428,293|568,669|
|Fund balances brought forward|||||||
|at 1 September 2020||14,642,009|(14,664)|103,573|14,730,918|14,162,249|
|Fund balances carried|||||||
|forward at31August 2021||15,119,574|(44,263)|83,900|15,159,211|614,730,918|
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||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|
||||2021|2020|2021|2020|
|||Notes||||8|
|FIXEDASSETS|||||||
|Tangible fixed assets|||22,067,003|21,187,970|22,043,581|21,156,741|
|Investments|||||2|2|
||||22,067,003|21,187,970|22,043,583|21,]56,743|
|CURRENT ASSETS|||||||
|Stock|||24,912|21,849|19,734|17,044|
|Debtors||10|291,040|463,032|337,483|538,406|
|Cash at bank and in hand|||1,424,311|89,276|1,209,202|13,813|
||||1,740,263|574,157|1,566,419|569,263|
|CREDITORS: Amounts|falling||||||
|due within one year|||(3,409,876)|(4,915,510)|(3,168,350)|(4,864,723)|
|Net current liabilities|||(1,669,613)|(4,341,353)|(1,601,931)|(4,295,460)|
|Total assets less current|liabilities||20,397390|16,846.617|20,441,652|16,861483|
|CREDITORS: Amounts|falling||||||
|due after more than one|year||(5238,179)|(2,115,699)|(5,238,179)|(2,115,699)|
|NET ASSETS|||15,159,211|f14,730,918|15,203,473|f14,745,584|
|FUNDS|||||||
|Unrestricted|||||||
|-General||13|15,056,528|14,578,963|15,056,526|14,578,963|
|-Designated||13|63,046|63,046|63,046|63,046|
|Non-charitable
trading activities||18|(44,263)|(14,664)|2|2|
|Restricted||14|83,900|103,573|83,899|103,573|
||||15,159,211|f14,730,918|f15,203,473|I14,745,584|
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||||||||||2021||2020|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Notes|||||
||Net cash provided
by|operations|||||A||1,060,763||2,627,988|
||Cash flows from investing||activities:|||||||||
||interest receivable|||||||1,537||10,293||
||interest payable|||||||(97,876)||(69,587)||
||Purchase offixed assets|||||||(2,123,857)||(4,182,825)||
||Net cash (used in) investing|||activities|||||(2,220,196)||(4,242,119)|
||Cash flows from financing||activities:|||||||||
||Bank loan repayment|||||||(2,054,455)||(621,924)||
||New bank loans|||||||4,300,000||1,739,839||
||Finance lease repayments|||||||(29,669)||(23,363)||
||New financ leases|||||||832,661||87,611||
||Net
cash
provided|by/(used|||in)|financing|||3,048,537||1,182,163|
||activities|||||||||||
||Change
in cash and|cash||equivalents||in the|||1,889,104||(431,968)|
||reporting
period|||||||||||
||Net cash and cash equivalents|||at beginning||of|||K(464,793)||(32,825)|
||period|||||||||||
||Net cash and cash equivalents|||at end ofperiod|||B||1,424,31 1||K(464,793)|
|A.|RECONCILIATION|OFNET MOVEMENT IN|||||FUNDS|TO||2021|2020|
||NET CASH PROVIDED BYOPERATIONS|||||||||||
||Net movement
in funds|||||||||437793|568,668|
||Depreciation|||||||||1,351,579|1,138,925|
||Interest receivable|||||||||(1,537)|(10293)|
||interest payable|||||||||97,876|69,587|
||Decrease/(increase)
in|stocks||||||||(3,059)|(1,071)|
||Decrease/(increase)
in|debtors||||||||171,992|(159,999)|
||Increase in creditors|||||||||(993,381)|1,022,171|
||Net sash provided
by|operations||||||||1,060,763|82,627,988|
|B.|ANALYSIS OFCHANGES|||IN CASH AND||||At|||At|
||CASH EQUIVALENTS||||||1September|||Other|31August|
|||||||||2020|Cashflows|Changes|2021|
||Cash and cash equivalents|||||||89,275|1,335,035||1,424,311|
||Bank overdratl|||||||(554,069)|554,069|||
|||||||||K(464,793)|1.,889,104||1,424,311|
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|Freehold|buildings|l~/a straight line|
|---|---|---|
|Freehold|impmvements|5'/o straight line|
|Fixtures,|fittings and equipment|20~/o reducing balance|
|Motor vehicles and boat||25'/e reducing balance|
|Computer|equipment|25'/o straight line|
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|1.|TUITION FEES||||2021|2020|
|---|---|---|---|---|---|---|
||Fees receivable||||27,250,865|27470,232|
||Less: bursaries, scholarships|and|allowances||{2,885,132)|(3,616,974)|
||Add: bursaries
and scholarships||funded by restricted|funds|2,709|6,531|
||||||24,368,442|E23,659,789|
|2.|OTHER SCHOOL INCOME||||2021|2020|
|||||||8|
||Registration
fees||||143,140|112,955|
||Deposits retained||||186,500|131,575|
||School bus||||260,596|322,071|
||||||590,236|f566,601|
|3.|OTHER TRADING ACTIVITIES||||2021|2020|
||Lettings- school||||141,890|125,271|
||Trading
activities —Sylvestrian||Enterprises||536,759|632,396|
||Limited||||||
||Sundry income||||11,981|30,014|
||||||690,630|8787,681|
|4.|ANALYSIS OFTOTAL||2021|2021|2021|2021|
||EXPENDITURE||StaffCosts|Other Costs|Depreciation|Total|
||Raising funds||||||
||Publicity costs|||77,365||7'7,365|
||Trading subsidiary|||548,035|7,807|555,842|
||Finance costs|||97,876||97,876|
|||||723,276|7,807|731,083|
||Chars'table
aerivilies||||||
||Teaching||11,385,751|1,584,440|503268|13,473,459|
||Welfare||83,022|1,625,177||1,708,199|
||Premises||414,775|3,009,352|840,504|4,264,631|
||Support costs||4,084,162|1,150,274||5,234,436|
||Grants||||||
||||15,967,710|7,369443|1,343,772|24,680,725|
||||15,967,710|8,092,519|1,351,579|25,411,808|
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|4.|ANALYSIS OF|TOTAL EXPENDITURE (continued)|TOTAL EXPENDITURE (continued)|TOTAL EXPENDITURE (continued)|||
|---|---|---|---|---|---|---|
||2020COMPARATIVES||2020|2020|2020|2020|
||||StaffCosts|Other Costs|Deprecianon|Total|
|||||8|||
||Raising funds||||||
||Publicity costs|||91.,595||91,595|
||Trading subsidiary|||636,652|10,410|647,062|
||Finance costs|||69,587||69,587|
|||||797,834|10,410|808,244|
||Charitable
scdri des||||||
||Teaching||11,506,070|1,676,197|351,077|13,533,344|
||Welfare||84,170|1,450,651||1,534,821|
||Premises||454,643|2,369,670|777,438|3,601,751|
||Support costs||3,912,789|1,413,748||5,326,537|
||Grants|||6,531||6,531|
||||15,957,672|6,916,797|1,128,515|24,002,984|
||||f15,957,672|f7,714,631|81,138,925|f24,811,228|
||FINANCE COSTS||||2021|2020|
||Bank and loan interest||||81,726|23,675|
||Bank charges||||16,150|45,912|
||||||97,876|f69,587|
||ANALYSIS OFSUPPORT COSTS||||2021|2020|
||Staffcosts||||4r084,162|3,912,789|
||Administrative|&ITcosts|||1,401,269|1,189,763|
||Governance
(audit &legal fees)||||187,789|223,985|
||||||5,673,220|85,326,537|
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|STAFFCOSTS||||||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|The staff costs are analysed|||as follows:|||||
|Salaries||||||12,211,278|12,220,333|
|Social security||||||1,357,006|1,316,204|
|Pension costs||||||2,339,410|2,322,931|
|Redundancy
and termination|||payments|||60,016|98,204|
|||||||15,967,710|f,15,957,672|
|||||||2021|2020|
|The number ofemployees||whose emoluments||exceeded|f60,000|No.|No.|
|during the year was as
I60,001 —f70,000
f70,001 -f80,000|follows:|||||17
5|18
6|
|880,001 - f90,000||||||3|3|
|890,001 - f.100,000||||||||
|8100,001 -f110,000||||||||
|8120,001 - f130,000||||||||
|f130,001 - f140,000||||||||
|Average staff numbers|were:|||||||
|Teaching||||||213|216|
|Non teaching||||||160|165|
|||||||373|381|
|Average staff numbers|expressed as full time|||equivalents|were:|||
|Teaching||||||136|137|
|Non teaching||||||97|94|
|||||||233|231|
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|NET MOVEMENT IN FUNDS|NET MOVEMENT IN FUNDS|||||
|---|---|---|---|---|---|
|||||2021|2020|
|The net movement offiunds is stated after chargingl(crediting)|||(before VAT):|||
|Auditors remuneration|—audit fee (gmup)|||29,700|28,850|
||—other services|||3,948|1,750|
|Rent receivable||||(141,890)|(125,271)|
|TAXATION||||||
|There is no liability for taxation as the school is a registered|||charity.|||
|TANGIBLE||Freehold||Fixtures,||
|FIXEDASSETS|Freehold|buildings
and||equipment
and||
||landf|improvements|Computers|motor vehicles
f|Total|
|COST||||||
|As at 1 September 2020|10,000|35,543,953|1,856,460|4,575,895|41,986,308|
|Additions||1,380,429|850,183||2430,612|
|Disposals||||||
|As at 31August 2021|10,000|36,924,382|2,706,643|4,575,895|44,216,920|
|DEPRECIATION||||||
|As at 1 September 2020||15,210,787|1,552,419|4,035,132|20,798,338|
|Charge for year||837,546|399,118|114,915|1,351,579|
|Disposals||||||
|As at 31 August 2021||16,048,333|1,951,537|4,150,047|22,149,917|
|NET BOOKVALUES||||||
|As at31 August 2021|10,000|20,876,049|755,106|425,848|22,067,003|
|As at 31August 2020|f10,000|f20,333,166|f304,041|f540,763|f21,187,970|
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|10.|DEBTORS|||Group||Charity||
|---|---|---|---|---|---|---|---|
|||||2021
f|2020|2021|2020f|
||Fees|||12,652|154,617|12,652|154,617|
||Amounts
due from subsidiary||undertaking|||104,168|97,599|
||Prepaytnents|||214,827|175,763|192,642|165,658|
||Other debtors|||63,561|132,652|28,021|120,532|
|||||291,040|1A63,032|337,483|6538,406|
|11.|CREDITORS: Amounts|due within||Group||Charity||
||one year|||2021
f|2020|2021
f.|2020
f,|
||Bank loan (see note 12)|||496,154|645,386|496,154|645,386|
||Bank overdraft||||554,069||554,069|
||Fee deposits|||53,500|80,675|53,500|80,675|
||Fees received in advance|||494,016|307,995|494,016|307,995|
||Composition
fees (see note||12)|204,312|178,447|204,312|178,447|
||Trade creditors|||274,009|791,358|269,431|784,867|
||Finance leases|||220,390|34,944|220,390|34„944|
||Other taxes and social security|||335,872|355,241|335,872|355,241|
||Accruais|||703,778|635,629|618,426|635,629|
||Other creditors|||627,845|1,331,766|476,249|1,287,470|
|||||3,409,876|f4,915,510|3,168,350|f4,864,723|
|12.|CREDITORS: Amounts|due after one year||||2021
f|2020|
||Group and charity|||||||
||Finance leases|||||879,387|64,248|
||Less included in current|liabilities||||(220,390)|(34,944)|
|||||||658,997|29,304|
||Composition
fees|||||287,737|263,526|
||Fee deposits|||||487,600|413,800|
||Bank loans|||||3,803,845|1,409,069|
|||||||5438,179|I2,115,699|
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|Bank loan||2021|2020|
|---|---|---|---|
|The bank loan is due for repayment|as follows:|g||
|Within one to two years||496,154|496,155|
|Within two to five years||3,307,692|912,914|
|||3,803,846|1,409,069|
|Repayable
within one year||496,154|645,386|
|||4,300,000|I2,054,455|
||||4,300,000
I2|,054,455|
|---|---|---|---|---|
|12.b)|Composition
fees||||
||Parents may enter into aconnect topay the School for tuition fees in|advance.|The money may be returned subject||
||tospecific conditions on the receipt ofone tenn's notice. Assunung|pupils wiB remain at the School, advance fees|||
||will be applied as follows:||||
||||2021|2020|
||||K||
||Within one to two years||156,641|125,955|
||Within two to five years||131,096|137,571|
||||287,737|263,526|
||Repayable within one year||204,312|178,447|
||||492,049|6441,973|
||The movements
during the year were as follows:||||
||Balance at 1 September||441,973|446,974|
||New contracts||233,686|257.705|
||Amounts
accrued to contracts||33,459|30,054|
||||709,118|734,733|
||Amounts uulised
in payment offees||(217,069)|(292,760)|
||Balance at 31August||492,049|f44L973|
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||||||2021|2020|
|---|---|---|---|---|---|---|
|||||||g|
|Turnover|fmm continuing|||activities|536,759|632,396|
|Direct costs|||||(25,809)|(53,716)|
||||||510,950|578,680|
|Administrative|||expenses||(540,549)|(593,346)|
|Opemting|profit||||(29,599)|(14,666)|
|Gilt aid payable|||to Forest|School|||
||||||(29,599)|(14,666)|
|Loss brought||foruurd|||(14,666)||
|Retained|in the||subsidiary||6(44,265)|f,(14,666)|
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|19. COMPARATIVE|19. COMPARATIVE|CONSOLIDATED STATEMENT OF|CONSOLIDATED STATEMENT OF|CONSOLIDATED STATEMENT OF|CONSOLIDATED STATEMENT OF|FINANCIAL ACTIVITIES|FINANCIAL ACTIVITIES|FINANCIAL ACTIVITIES|FINANCIAL ACTIVITIES|FINANCIAL ACTIVITIES||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Designated||||||||
|||||||Non|charitable|||||||
||||||||trading||Restricted|||||
|||||||activities||||Funds||2020||
||||||||f|||||||
||INCOME FROM:|||||||||||||
||Charitable
activities:|||||||||||||
||Tuition fees||1|23,659,789|||||||23,659,789|||
||Other school|income|2|566,601|||||||566,601|||
||Donations
and|legacies||311„861||||||43,670||355,531||
||Other trading activities||3|155,285|||632,396|||||787,681||
||Investments||||10,295|||||||10,295||
||Total Income|||24,703,831|||632,396|||43,670|25,379,897|||
||EXPENDITURE ON:|||||||||||||
||Raising funds|||161,182|||647,062|||||808,244||
||Charitable
activities|||23,996,453||||||6,531|24,002,984|||
||Total Expeaditure||4|24,157,635|||647,062|||6,531|24,811,228|||
||Net income before transfers|||546,196|||(14,666)|||37,139|568,669|||
||Transfers||13|||||||||||
||Net movement|in funds||546,196|||(14,666)|||37,139|568,669|||
||Fund balances|brought forward||||||||||||
||at 1 September|2019||14,095,813||||||66,434|14,162,249|||
||Fund balances|carried||||||||||||
||forward at31|August 2020||614,642,009||E(14,664)|||$103,573||f14,730,918|||
|20.|COMPARATIVE FUND MOVEMENTS|||||||||||||
||UNRESTRICTED FUNDS||Balance|||||||Transfers|||Balance|
||||ISeptember||Income||Expenditure|||between||31|August|
|||||2019||||||funds|||2020|
||General funds||14,032,767||24,683,552||(24,|137,357)||||14,578,962||
||Non-charitable|trading||||||||||||
||activities|||||632,396|(647,062)||||||(14,664)|
||Designated
funds|||||||||||||
||Scholarship
and bursary fond|||63,046|||||||||63,046|
||Development|fund||||20,278||(20,278)||||||
|||||63,046||20,278||(20,278)|||||63,046|
||||814,095,815||f25,336426||$(24|804,697)||||f14,627,344||
||||||31|||||||||
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|RESTRICTED FUNDS|RESTRICTED FUNDS|RESTRICTED FUNDS||Balance||||Balance|
|---|---|---|---|---|---|---|---|---|
|||||ISeptember||||31August|
|||||2019|Income|Expentflture|Transfer|2020|
|||||8|g|g||K|
|Organ Fund||||73||||73|
|Special Funds||||29,563||||29,563|
|Tyler Fund||||376||||376|
|Wolfson Foundation||||20,922||||20,922|
|Deaton Fund||||220||||220|
|Jago Fund||||780||||780|
|Colin Smith|Prize|||14,500||||14,500|
|Scholarship|and bursary||fund||6,531|(6,531)|||
|Founders
dsy bursary|||||37,139|||37,139|
|||||I66,434|43,670|(6,531)||103,573|
|LYSIS OF|CHANGES IN NET|||DEBT|||||
|||||Balance||||Balance|
|||||ISeptember||||31August|
|||||2020|Cash flows|New finance|Other non-|2021|
|||||||leases|cash changes
I||
|Cash||||89,276|1,335,035|||1,424,311|
|Overdraft||||(554,069)|554,069||||
|Total
cash||and|cash|(464,793)|1,889,104|||1,424,311|
|equivalents|||||||||
|Bank loans|due &I year|||(645,386)|149,232|||(496,154)|
|Bank loans|due &I year|||(1,409,069)|(2,394,777)|||(3,803,846)|
|Finance lease obligations||||(64,248)|35,044|(850,183)||(879,387)|
|Total||||K(2,583,496)|f(321,397)|f(850,183)||f(3,755,076)|
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