| Page | |
|---|---|
| Directors Report | |
| Audit Report | |
| Statement of Financial Activities |
|
| Balance Sheet | 16 |
| Statement of Cashflows |
17 |
| Notes to the Financial Statements | 18 |
| 2023 | 2023 | 2023 | 2022 | |||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||||
| Note | Funds | Funds | Funds | Funds | ||||
| E | E | E | ||||||
| INCOME FROM: | ||||||||
| Donations | 2,000 | 5,279 | 7,279 | |||||
| Charitable Activities |
||||||||
| Academic Fees | 2 | 3,190,579 | 3,190,579 | 3,036,934 | ||||
| Grant Income | 2 | 31,428 | 31,428 | 44,069 | ||||
| Extra-curriculum outings Investment Income |
and other fees | 87,244 | 87,244 | 104,352 | ||||
| Bank interest income Income from property Other Income |
84,175 20,900 18322 |
1 250 | 84,175 20,900 19572 |
5,324 16,000 34192 |
||||
| TOTAL INCOME | 3403220 | 37957 | 3441 177 | 3240 871 | ||||
| EXPENDITURE ON: | ||||||||
| Raising Funds | ||||||||
| Investment management Charitable Activities |
costs | 3 | 9,397 | 9,397 | 3,997 | |||
| School Operating costs |
4 | 3,201,684 | 40,557 | 3,242,241 | 3,108,054 | |||
| TOTAL EXPENDITURE | 3211081 | 40 557 | 3251 638 | 3 112051 | ||||
| Gains/(Losses) on investments |
22 573 | 22 573 | 4580 | |||||
| NET INCOME/(EXPENDITURE) | FOR THE YEAR | 214,712 | (2,600) | 212,112 | 133,400 | |||
| Transfers | 31 543 | ~31 543 | ||||||
| Net Movements In funds |
246,255 | (34,143) | 212,112 | 133,400 | ||||
| Reconciliation offunds |
||||||||
| Funds brought forward |
at | 1 September | 7438425 | 45243 | 7483 668 | 7 350268 | ||
| FUNDS CARRIED FORWARD AT 31 AUGUST | 148 |
| 2023 | 2022 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Note | Unrestricted 5 |
Restricted f |
Total E |
'Total 5 |
||||||||
| FIXEDASSETS | ||||||||||||
| Tangible assets School land, buildings, and |
5,575,566 | 40 | 5,575,606 | 5,388,280 | ||||||||
| equipment | ||||||||||||
| Investments | ||||||||||||
| Investment property Security investment TOTAL FIXEDASSETS |
9 10 |
440,266 6015832 |
40 | 6 | 440,266 015872 |
6 | 440,266 468 137 296683 |
|||||
| CURRENT ASSETS | ||||||||||||
| Debtors | 89,126 | 89,126 | 123,216 | |||||||||
| Cash at bank and in hand |
3615214 | 11060 | 3 | 626 274 | 2 | 770 049 | ||||||
| T'OTAL CURRENT ASSETS | 3704 340 | 11060 | 3 | 715400 | 2 | 893265 | ||||||
| CURRENT LIABILITIES | ||||||||||||
| Creditors: amounts falling due within one year |
12 | 1 156149 | ~1159149 | ~885 912 | ||||||||
| NET CURRENT ASSETS | 2 548 191 | 11060 | 2 | 559251 | 2 | 008 253 | ||||||
| TOTAL ASSETS LESSCURRENT | ||||||||||||
| LIABILITIES | 8 564023 | 11100 | 8 | 575 123 | 8304936 | |||||||
| Creditors: amounts falling due more than one year |
after | 13 | 879 343 | 879343 | 821 268 | |||||||
| Net Assets | 684680 | ~7 | ~7 | |||||||||
| Unrestricted reserve funds |
14 | 7,684,680 | 7,684,680 | 7,438,425 | ||||||||
| Restricted reserve funds |
15 | 7684680 | 11100 ~1 |
11100 ~7780 |
45243 ~7668 |
|||||||
| The Governors acknowledge |
their | responsibilities | for complying | with | the | requirements | of the Act | with | respect | to | ||
| accounting records and preparation |
offinancial | statements. |
| Note | 2023 | 2022 | |||
|---|---|---|---|---|---|
| 6 | |||||
| Cashflows | from operating activities |
||||
| Net cash provided by operating activities |
17 | 577712 | 400 779 | ||
| Cashf low | from investing activities |
||||
| Investment | Income | 105,075 | 21,324 | ||
| Purchase oftangible fixed assets |
(317,272) | (134,764) | |||
| Disposal proceeds oftangible fixed assets |
800 | ||||
| Proceeds from redemption of investment |
49~710 | ||||
| Cash used | in investing activities |
278813 | 112640 | ||
| Increase in |
cash and cash equivalents in the year |
856,225 | 288,139 | ||
| Cash and | cash equivalents at the beginning |
ofthe year | 2 770 1149 | 2 481 9111 | |
| Cash and | cash equivalents at the end ofthe |
year |
| Staff | Other | ||||||
|---|---|---|---|---|---|---|---|
| Costs | Costs | Depreciation | Total | Total | |||
| Charitable Activities |
2023f | 2023 f. |
2023f | 2023f | 2022f | ||
| School Operating | Costs: | ||||||
| Teaching costs | 1,916,913 | 253,373 | 23,677 | 2,193,963 | 2,136,001 | ||
| Welfare | 35,136 | 222,119 | 257,255 | 226,100 | |||
| Premises | 51,948 | 282,141 | 106,269 | 440,358 | 395,375 | ||
| Support costs (note | 5) | 237746 | 112919 | 350665 | 350575 | ||
| SUPPORT COSTS | 2023f | 2022f | |||||
| Salaries | 208,728 | 187,895 | |||||
| Printing | 21,263 | 25,447 | |||||
| Telephone | 2,639 | 4,160 | |||||
| Bank charges | 2,118 | 1,860 | |||||
| General | 9,342 | 13,973 | |||||
| Loss on fixed assets disposals | 434 | ||||||
| Bad debt write off | 1,175 | ||||||
| Governance (note 6) |
105400 | 116809 | |||||
| GOVERNANCE COSTS | 2023f | 2022f | |||||
| Salaries | 29,017 | 28,338 | |||||
| Professional fees |
34,993 | 40,603 | |||||
| Bookkeeping | 23,760 | 30,810 | |||||
| Audit | 9,130 | 8,763 | |||||
| Accountancy | 1,870 | 1,725 | |||||
| Payroll | 5,460 | 5,460 | |||||
| TPA audit | 1 170 | 1 110 | |||||
| 7 | STAFF COSTS | 2023f | 2022f | ||||
| Wages and salaries | 1,786,249 | 1,680,397 | |||||
| Social security costs | 190,079 | 166,959 | |||||
| Superannuation Pension contributions |
222,101 43 314 |
201,113 40 770 |
|||||
| Number of higher paid employees |
in bands of: | 2023 | 2022 | ||||
| f60,000 - f70,000 | 5 | 3 | |||||
| f70,000- f80,000 | 2 | 1 | |||||
| f80,000-f90,000 | |||||||
| f90,000-f100,000 |
| 8 TANGIBLE FIX |
EDASSETS | |||||
|---|---|---|---|---|---|---|
| Freehold | Building | Fixtures | Fixtures and | Computers | Total | |
| Land | and | and | Fittings | and | ||
| Professional | Equipment | Restricted | Software | |||
| Costs | ||||||
| E | ||||||
| Cost: | ||||||
| At 1 September 2022 | 1,030,790 | 4,702,357 | 983,944 | 19,964 | 261,957 | 6,999,012 |
| Additions | 302,242 | 15,030 | 317,272 | |||
| Disposal | ||||||
| At 31 August 2023 | 1 030 790 | 4 702 357 | 1 286186 | 19964 | 276987 | 7316284 |
| Depreciation: | ||||||
| At 1 September 2022 | 763,392 | 624,679 | 19,824 | 202,837 | 1,610,732 | |
| Charge for the year | 18,489 | 87,680 | 100 | 23,677 | 129,946 | |
| Disposal | ||||||
| At 31 August 2023 | 781 881 | 712 359 | 19924 | 226 514 | 1 740 678 | |
| Net book value: At 31 August 2023 |
~~ | ~6 | ||||
| At 31 August 2022 | ~~(I | MZL2()3I |
| 10 | INVESTMENTS | 2023 | 2022 | |||||||||||||
| f | f | |||||||||||||||
| Balance at 1 September | 468,137 | 463,557 | ||||||||||||||
| Unrealised revaluation |
surplus/(deficit) | arising | in | |||||||||||||
| the year | 22,573 | 4,580 | ||||||||||||||
| Amount realised on redemption |
~490 710 | |||||||||||||||
| Market value as at | 31 August | |||||||||||||||
| During 2011f250,000 was invested | in | CAF UK | Equitrack | Fund | —Accumulation | units. During | the curre | |||||||||
| financial year, the |
fund | was | closed | and the | balance | of | f490,710was realised | and added | to the cas | |||||||
| balances. | ||||||||||||||||
| Current investments |
include | fixed | interest | deposits | with maturity | greater than 100days. | ||||||||||
| 11 | DEBTORS | 2023f | 2022 | |||||||||||||
| Fees | 3,139 | 714 | ||||||||||||||
| Costs recoverable | from | parents | 45,277 | 72,677 | ||||||||||||
| Prepayments | 38,796 | 43,575 | ||||||||||||||
| Other debtors | 1 914 | 6250 | ||||||||||||||
| 12 | CREDITORS: amounts year |
falling | due | within | one | 2023f | 2022f | |||||||||
| Trade creditors | 200,862 | 136,939 | ||||||||||||||
| Deferred income |
721,928 | 500,949 | ||||||||||||||
| Enrolment deposits |
held | on account | 104,410 | 142,597 | ||||||||||||
| Taxes, pensions, and social |
security | costs | 76,105 | 74,135 | ||||||||||||
| Accruals and other | creditors | 52 544 | 30392 | |||||||||||||
| Deferred income |
reflects | tuition | fees | paid | in | |||||||||||
| advance for the following | year. | |||||||||||||||
| 13 | CREDITORS: amounts than one year |
falling | due | after | more | 2023 f |
2022 f |
|||||||||
| Enrolment deposits |
held | on account: | ||||||||||||||
| Due between 1 and |
5years | 312,702 | 292,745 | |||||||||||||
| Due after more than 5years | 566641 | 528 523 |
| Tangible Fixed | Net Assets | Total | ||||
|---|---|---|---|---|---|---|
| Assetsf | ||||||
| RESTRICTED FUNDS 2023 | ||||||
| Bursary | Fund | 11,060 | 11,060 | |||
| Equipment Appeal |
Fund | 40 | 40 | |||
| SHPA | ||||||
| UNRESTRICTED | FUNDS 2023 | |||||
| General | Fund | 2,727,136 | 989,346 | 3,716,482 | ||
| Premises | Reserve | 2,848,430 | 2,848,430 | |||
| Building | Maintenance | Fund | 1 119768 | 1 119768 | ||
| Total as | at 31 August | 2023 | ||||
| Tangible Fixed Assetsf |
Net Assetsf | Totalf | ||||
| RES'TRICTED FUNDS 2022 | ||||||
| Bursary | Fund | 42,603 | 42,603 | |||
| Equipment Appeal |
Fund | 140 | 140 | |||
| SHPA | 2,500 | 2,500 | ||||
| UNRESTRICTED | FUNDS 2022 | |||||
| General | Fund | 2,539,710 | 987,486 | 3,527,196 | ||
| Premises | Reserve | 2,848,430 | 2,848,430 | |||
| Building | Maintenance | Fund | 1 062 799 | 1 062799 | ||
| Total as | at 31 August | 2022 |
| 2023 f |
f | f | 2022 | f | ||||
|---|---|---|---|---|---|---|---|---|
| Net income | 212,112 | 133,400 | ||||||
| (Gain)/Loss | on investment | (22,573) | (4,580) | |||||
| Depreciation | charges | 'I29,946 | 130,759 | |||||
| (Increase)/ | Decrease in debtors |
34,090 | (37,214) | |||||
| Increase/(Decrease) in creditors |
329,212 | 199,304 | ||||||
| Disposals of Fixed Assets | 434 | |||||||
| Investment | income | ~105075 | ~21 | 324 | ||||
| 365600 | 267 379 | |||||||
| CASH AND | CASH EQUIVALENTS | AND NET DEBT | RECONCILIATION | |||||
| Cash and cash equivalents | at the start ofthe year | 2,770,049 | 2,481,910 | |||||
| Movement | 856225 | 288 139 | ||||||
| Cash and cash equivalents | at the end ofthe year |
| 2022 | 2022 | 2022 | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| Funds | Funds | Funds | ||
| INCOME FROM: | ||||
| Donations | ||||
| Charitable Activities |
||||
| Academic Fees | 3,036,934 | 3036 934 | ||
| Extra-curriculum outings |
and other fees | 9,550 | 34,519 | 44,069 |
| Grant | 104,352 | 104,352 | ||
| Investment Income |
||||
| Interest income | 5,324 | 5,324 | ||
| Income from property | 16,000 | 16,000 | ||
| Other income | ||||
| 16 162 | 18090 | 34 192 | ||
| TOTAL INCOME | 3188262 | 52609 | 3240 871 | |
| EXPENDITURE ON: | ||||
| Raising Funds | ||||
| Investment management |
costs | 3,997 | 3,997 | |
| Charitable Activities |
||||
| School Operating costs |
3063017 | 45 037 | 3108054 | |
| TOTAL EXPENDITURE | 3067014 | 45 037 | 3112051 | |
| Gain on Investment | 4580 | 4580 | ||
| Net Income l(expenditure) | 125,828 | 7,572 | 133,400 | |
| Transfers | 21 524 | 21 524 | ||
| NET MOVEMENT IN FUNDS |
147,352 | (13,952) | 133,400 | |
| Reconciliation offunds |
||||
| Funds brought forward at |
1 September 2021 | 7 291 073 | 59195 | 7350268 |
| FUNDS CARRIED FORWARD AT 31 AUGUST 2022 |