## |CONTENTS|||Page| |---|---|---|---| |Legal and administrative||information|| |Governors'
report|||2 —6| |Independent
auditors'|report||7-9| |Statement oftinanciat||activities|10| |Balance sheet|||| |Statement ofcash flows|||12| |Notes to the accounts|||13-23| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||Total|Total| |---|---|---|---|---|---|---|---| |||||Unrestricted|Restricted|2021|2020| ||||Notes||f.||| |INCOME FROM:|||||||| |Income from charitable|activities:||||||| |School fees||||4,867,924||4,867,924|4,699,680| |Other educational
income||||107,181||107,181|107,612| |Investment
income||||13,023||13,023|6,734| |Donations
and legacies
Government
grants||||2,513
14,535|50,333|52,846
14,535|57,376
101,639| |Total Income||||5,005,176|50,333|5,055,509|4,973,041| |EXPENDITURE ON:|||||||| |Costs ofRaising Funds
Investment
management
Finance costs|fees|||4,618
442,195||4,618
442,195|3,923
292,003| |Charitable
Activities|||||||| |School Operating
Costs:
Teaching costs
Welfare costs||||2,558,347
168,715||2,558,347
168,715|2,6!3,929
205,136| |Premises costs||||941,904|4,826|946,730|885,494| |Support and governance
Grants and awards|costs|||710,601|62,811|710,601
62,811|672,798
55,008| |Total Expenditure|||5|4,826,380|67,637|4,894,017|4,728,291| |Net income before other|gains|snd losses||178,796|(17,304)|161,492|244,750| |Change
in fair value ofinterest||rate swap||279,770||279,770|129,259| |Nct income and nct movement||in funds||458,566|(17,304)|441,262|374,009| |I'und balances at 1 September 2020||||7,820,367|203,607|8,023,974|7,649,965| |Fund balances at 31August 2021||||8278,933|186,303|8,465,236|8,023,974| ## |||||2021||2020| |---|---|---|---|---|---|---| |||Notes||||| |FIXEDASSETS||||||| |Tangible assets||||17,735,868||14,811783| |CURRENT ASSETS||||||| |Debtors
Cash and cash equivalents||10
11|1,309,054
2,064,955||1,300,420
2,258,764|| |CREDITORS: amounts|falling due|||||| |within
one year||12|(2,261,770)||(2,514,049)|| |NET CURRENT ASSETS||||1,112,239||1,045,135| |TOTAL ASSETSLESS
LIABILITIES|CURRENT|||18,848,107||15,856,418| |CREDITORS: due after|more than one year|13||(10,382,871)||(7,832,444)| |NET ASSETS||||8,465,236||8,023,974| |FUNDS||||||| |Unrestricted
funds:
Restricted
funds||18
18||8,278,933
186,303||7,820,367
203,067| |||19||8,465336||f8,023,974| ## ## |||||||||||2021|2020| |---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||f|| |Cash flows from operating||activities||||||||3,702,755|697,233| |Cash flows from investing||activities|||||||||| |Interest income||||||||||13,023|6,734| |Purchase ofproperty,
plant|and equipment|||||||||(3,467,392)|(1,408,234)| |Net cash (used ia) investing||activities||||||||(3,454,369)|(1,401,499)| |Cnsh flows from financing||activities|||||||||| |I inance costs||||||||||(442 195)|(292003)| |Nct cash (used in) financing
activities||||||||||(442,195)|(292,003)| |Change
in cash and cash equivalents
in the
Cash and cash equtvalents
at the beginning||||||reporting
period
ofthe reporting||period||(193,809)
2,258,764|(996,269)
3,255,033| |Cash and cash equivalents||at the end|||ofthe reporting||period|||2,064,955|2,258,764| |NOTES TO THE STATEMENT OF|||||CASH FLOWS|||||2021|2020| |||||||||||f,|| |Reconciliation
ofnet movement|||in|funds||to net cash tlow from operating|||||| |activities|||||||||||| |Net movement
in funds||||||||||441,262|374,009| |Depreciation||||||||||542,807|508,147| |Increase in debtors||||||||||(8,634)|(145,037)| |Increase/(Decrease)
in creditors|||— including|||swap liability||||2,298,148|(325,156)| |Interest income||||||||||(13,023)|(6,734)| |Finance costs||||||||||442,195|292,003| |Net cash provided
by operating|||activities|||||||3,702,755|697,233| |Analysis ofcash and cash
Cash at bank and in hand||equivalents||||||||2,064,955|2,258,764| |||||||||||2,064,955|2,258,764| |Movement
in net debt|||||Cash and cash|||Borrowings|Interest rate||Total| ||||||equivalents||||swap||| |At I September 2019||||||f3,255,033||(f6,200,000)|(f1,106,760)||(f4,051,727)| |Cashflow
Fair value gains and losses||||||(996,269)|||129,259||(996,269)
129,259| |Interest charges
At 31 August 2020||||||62259764||E62000003|t6~977 501||(f4,91~8737| |At I September 2020
Cashflow
Fair value gains and losses||||||f2,258,764
(193,809)||(f6,200,000)
(2,800,000)|(f977,501)
279,770||(f4,918,737)
(2,993,809)
279,770| |Interest charges
At 30 August 2021||||||E2064955||tE9tl00000|E697|313
~E7632 776|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |are charged to the Statem
SCHOOLFEES|ent|ofFinan|cial Activities
in the period in whi|ch the salaries they relate to a|re paid.| |---|---|---|---|---|---| |||||2021|2020| |||||8|| |Gross school fees
Less bursaries
and allowances||||4,867,924
(62,811)|4,703,720
(59,048)| |||||4,805,113|4,644,672| |Add bursaries
paid for|by restricted||funds|62,811|55,008| |||||4,867,924|4,699,680| |OTHER EDUCATIONAL||INCOME||2021f|2020
8| |Music lessons
Deposits retained
Registration
fees
School Fees Protection
Swimming
Fxcursions
and visits
Other|and|Personal|Accident Policies|836
2,625
40,141
1,357
8,110
21,526
32,586|6,448
31,455
33,691
3,641
14,322
14,028
4,027| |||||107,181|107,612| |INVESTMENT INCOME||||2021f|2020| |Rental income
Interest receivable||||12,715
308|6,734| |||||13,023|6,734| ## ## ## ## |5.|EXPENDITURE|2021||||Other|Total|Total| |---|---|---|---|---|---|---|---|---| |||||Staff costs
f|Depreciation|Costsf|2021f|2020| ||Costs ofRaising|Funds:||||||| ||Investment
management||fees|||4,618|4,618|3,923| ||Finance costs|||||442,195|442,195|292,003| ||Charitable
Activity:|||||||| ||School Operating|Costs:||||||| ||Teaching costs|||2,312,774||245,573|2,558,347|2,613,929| ||Welfare costs|||||168,715|168,715|205,136| ||Premises costs|||44,754|542,807|359,169|946,730|885,494| ||Support and governance||costs|458,868||251,733|710,601|672,798| ||Grants
and awards|||||62,811|62,811|55,008| |||||2,816,396|542,807|1,534,814|4,894,017|4,728,291| |Metrobank —see n|ote 14|,|,|||| |---|---|---|---|---|---|---| |EXPENDITURE|2020|Coraparstive|||Other|Total| ||||Staff costs
f|Depreciation
f|Costs
f|2020
f| |Costs ofRaising Funds:||||||| |Investment
management||fees|||3,923|3,923| |Finance costs|||||292,003|292,003| |Charitable
Activity:||||||| |School Operating|Costs:|||||| |Teaching costs|||2,307,887||306,042|2,613,929| |Welfare costs|||||205,136|205,136| |Premises
costs|||38,581|508,147|338,766|885,494| |Support
and governance||costs|365,585||307,213|672,798| |Grants and awards|||||55,008|55,008| ||||2,712,053|508,147|1,508,091|4,728,291| ## |indemnity
insurance
in the year amounted
to E3,750 (|2020; E3,360).|| |---|---|---| |STAFF COSTS|2021f|2020f| |Wages and salaries|2,224, 147|2,137,881| |Social security costs|224,696|206,050| |Other pension costs|367,553|368,122| ||2,816,396|2,712,053| ## ## ## |||||2021|2020| |---|---|---|---|---|---| |||||Number|Number| |Teachers
Domestic
Administration||||49
2
7|47
1
7| ||||||55| |The number ofemployees|whose annual|emoluments|were f60,000 or more were:||| |||||Number|Number| |660,001 - 670,000
$70,001 - f80,000
f80,001 - f90,000|||||| |690,001 - f100,000|||||| |f,100,001 - 6110,000|||||| |6110,001 - 6120,000|||||| |6120,001 - 6130,000|||||| |||||||||||2021|2020| |---|---|---|---|---|---|---|---|---|---|---|---| ||Aggregate|remuneration|and|benefits|for|the|key|management|personnel|506,509|443,363| |8.|TAXATION||||||||||| ## ## |TANGIBLE FIXEDASSETS|Land and||Building|Asset Under|Furniturel|| |---|---|---|---|---|---|---| ||Buildings
f|improvements||construction|Equipment
8|Total
f| |Cost or valuation||||||| |At 1 September 2020|15,619,972||1,793,720|350,000|616,059|618,379,751| |Additions|3,239,634||70,556|106,070|51,132|3,467,392| |Transfer|350,000|||(350,000)||| |At 31 August 2021|19,209,606||1,864,276|106,070|667,191|21,847,143| |Depreciation||||||| |At 1 September 2020|2,112,191||997,489||458,788|63,568,468| |Charge for the year|294,647||183,485||64,675|542,807| |At 31 August 2021|2,406,838||1,180,974||523,463|4,111,275| |Net Book Value||||||| |At 31 August 2021|16,802,768||683,302|106,070|1.43,728|17,735,868| |At 31 August 2020|13,507,781||796,231|350,000|157,271|14,811383| |All other tangible fixed assets are|stated at historical||cost.|||| |DEBTORS|||||2021|2020| |||||||8| |Fees debtors|||||1,280,369|1,204,600| |Prepayments
and accrued income|||||28,685|47,424| |Other debtors||||||48,396| ||||||1,309,054|1,300,420| ## ## ## ## |12.|CREDITORS: amounts
falling due
within
one year|2021|2020| |---|---|---|---| ||Other taxes and social security costs
Fees charged
in advance
Fee deposits
Other creditors
and accruals
Bank loans and overdrafts|1,490
1,789,086
94,130
377,064|68,484
1,721,521
88,130
635,914| |||2261,770|2,514,049| |13.|CREDITORS: amounts
falling due
after more than one year|2021f|2020| ||Loan notes to parents||| ||Fee deposits
Bank loan
Interest Rate Swap liability|685,140
9,000,000
697,731|654,943
6,200,000
977,501| |||10,382,871|7,832,444| ||Bank loans are repayable
as follows:||| ||Within one year (see note 12)||| ||Between one and two years
Between two and five years
Over five years|144,605
8,855,395|6,200,000| |||9,000,000|6,200,000| ## ## ## ## ## ## ## ## |18.|FUNDS||I September
2020|Income
f|Expenditure|Gams/posses)
and transfers|31August
Z021| |---|---|---|---|---|---|---|---| ||Restricted funds||||||| ||Bursary funds||203,607|50,333|(67,637)||186,303| ||Total restricted|funds|f203,607|50,333|(67,637l||186,303| ||Unrestricted
funds||||||| ||General funds||7,820,367|5,005,176|(4,826,380)|279,770|8,278,933| ||Total unrestricted|funds|f7,820,367|5,005,176|(4,826,380)|279,770|8378,933| ||Total funds||f8,023,974|5,055,509|(4,894,017)|279,770|8,465~6| ||e current
requ
fund.|rements.
The|rements.
The|transfer
represents|total bursaries|awarded
in the|year to be allocate|d
against the| |---|---|---|---|---|---|---|---|---| |18|PRIOR YEAR|MOVEMENT||IN FUNDS||||| ||Restricted
funds|||ISeptember
2019|Income
f|Expenditure|Gains/gasses)
and transfers
f|31August
2020| ||Bursary funds|||201,239|57,376|(55,008)||203,607| ||Total restricted|funds||f201,239|857,376|(55,008)||5203,607| ||Unrestricted
funds|||||||| ||General funds|||7,448,726|4,915,665|(4,673483)|129459|7,820,367| ||Total unrestricted||funds|7.448,726|4,915,665|(4,673,283)|129459|7,820,367| ||Total funds|||7,649,965|4,973,041|(4,728,291)|129,249|8,023,974| ## ## ## |19.|NET ASSETSBETWEEN FUNDS|Restricted|General|Total| |---|---|---|---|---| |||Fundsf|Fundsf|Fundsf| ||Tangible
fixed assets||17,735,868|17,735,868| ||Net current assets|186,303|925,936|1,112,239| ||Long term creditors||(10,382,871)|(10,382,871)| ||Net assets at the end ofthe year|186,303|8,278,933|8,465,236| ||NET ASSETSBETWEEN FUNDS 2020|Restricted|General|Total| |||Funds
f|Fundsf|Fundsf| ||Tangible fixed assets||14,811,283|14,811,283| ||Net current assets|203,607|841,528|1,045, 135| ||Long term creditors||(7,832,444)|(7,832,444)| ||Net assets at the end ofthc year|203,607|7,820,367|8,023,974| ## |||||||Total| |---|---|---|---|---|---|---| ||||Notes|Unrestricted|Restricted|2020
f| |INCOME FROM:||||||| |Income from charitable|activities:|||||| |School fees
Other educational
income
Investment
income
Donations
and legacies
Government
grants||||4,699,680
107,612
6,734
101,639|57,376|4,699,680
107,612
6,734
57376
101,639| |Total Income||||4,915,665|57,376|4,973,041| |EXPENDITURE ON:||||||| |Costs ofRaising Funds||||||| |Investment
management
Finance costs|fees|||3,923
292,003||3,923
292,003| |Charitable
Activities||||||| |School Operating
Costs:||||||| |Teaching costs
Welfare costs
Premises costs||||2,613,929
205,136
885,494||2,613,929
205,136
885,494| |Support and governance
Grants and awards|costs|||672 798|55,008|672,798
55,008| |Total Erpenditure|||5|4,673,283|55,008|4,728,291| |Net income before other|gains|and losses||242,382|2,368|244,750| |Change in fair value ofinterest||rate swap||129,259||129,259| |Net income and net movement||in funds||371,641|2,368|374,009| |Fund balances
at
1 September 2019||||7,448,726|201,239|7,649,965| |Fund balances at 31 August 2020||||87,820,367|6203,607|68,023,974|