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|Directors Report||
|Audit Report||
|Statement
of Financial Activities||
|Balance Sheet|16|
|Statement
of Cashflows|17|
|Notes to the Financial Statements|18|
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||||||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|||||
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||||||||||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||||
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||||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|||||
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||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|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|
##
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|||||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||||
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|||||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|||||||
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|||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|||||