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2021-08-31-accounts

Directors Mrs M Brickwood
MrJ Lingard
Mr T R Squires
Ms A Pavin
Ms L Henderson
Mr D Murphy
Mr J Edgar
Mr E Mills (Appointed 21 January 2021)
Secretary Ms D Maroothynaden
Charity number 312733
Company number 708188
Registered office Worcester Road
Wimbledon
London
SW197QQ
Auditor Jacob Cavenagh 8 Skeet
5 Robin Hood Lane
Sutton
Surrey
SM1 2SW
Bankers Barclays Bank Pic
Onslow
Hall
Little Green
Richmond
Surrey
TW9 IQS

Page
Directors' report 1-7
Independent
auditor's		 report 8-10
Statement
offinancial		 activities
Balance sheet 12
Statement
ofcash flows		 13
Notes to the financial statements 14-25

Unrestricted Restricted Total Unrestricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
Notes F F
Income and endowments from:
Donations
and legacies		 4,920 29,315 34,235 550 22,395 22,945
Charitable
activities		 3,288,571 3,288,571 3,270,474 3,270,474
Investments 15 15 172 172
Other income 9,334 9,334 83,935 83,935
Total income 3,302,840 29,315 3,332,155 3,355,131 22,395 3,377,526
Ex enditure
on:
Raising funds 366 366 1,116 1,116
Charitable
activities		 6 3,224,844 25,642 3,250,486 3,294,571 15,390 3,309,961
Total expenditure 3,225,210 25,642 3,250,852 3,295,687 15,390 3,311,077
Net income before transfers 77,630 3,673 81,303 59,444 7,005 66,449
Gross transfers
between
funds		 3,673 3,673 7,005 (7,005)
Net income for the year/
Net movement
in funds		 81,303 81,303 66,449 66,449
Fund balances at 1
September 2020
As originally
reported		 2,679,436 2,679,436 2,220,065 2,220,065
Prior year adjustment 19 (392,922) (392,922)
As restated 2,286,514 2,286,514 2,220,065 2,220,065
Fund balances at 31August
2021		 2,367,817 2,367,817 2,286,514 2,286,514

Notes 2021
f		 2020
f
Fixed assets
Tangible assets 4,716,800 4,600,822
Current assets
Debtors 59,266 77,528
Cash at bank and in hand 329,920 690,878
389,186 768,406
Creditors: amounts falling due within
one year (798,655) (995,841)
Net current liabilities (409,469) (227,435)
Total assets less current liabilities 4,307,331 4,373,387
Creditors: amounts falling due after
more than one year 12 (1,939,514) (2,086,873)
Net assets 2,367,817 2,286,514
Income funds
Unrestricted funds 2,367,817 2,286,514
2,367,817 2,286,514

2021 2020
Notes F
Cash flows from operating activities
Cash (absorbed
by)/generated
operations		 from 17 (121,846) 173,666
Investing activities
Purchase of tangible fixed assets (194,387) (101,800)
Investment income received 15 172
Net cash used in investing activities (194,372) (101,628)
Financing activities
Proceeds of new bank loans 50,000 500,000
Repayment of bank loans (94,740) (93,647)
Net cash
financing		 (used in)/generated
activities		 from (44,740) 406,353
Net (decrease)/increase
in
equivalents		 cash and cash (360,958) 478,391
Cash and cash equivalents at beginning ofyear 690,878 212,487
Cash and cash equivalents at end of year 329,920 690,878

The average
monthly
number ofemployees
during the		 year was:
2021 2020
Number Number
Teaching 44 40
Premises
and administration		 9 9
Total 53 49
Employment
costs		 2021 2020
Wages and salaries 1,711,337 1,705,290
Social security costs 176,496 172,303
Other pension costs 203,448 302,396
2,091,281 2,179,989
2021 2020
Number Number
2021 2020
Advance payment scheme interest 366 1,116
366 1,116

School operating
and		 governance
costs
Unrestricted Restricted Total Total
f f 2021
f		 2020f
Direct costs
Teaching: Staff costs 1,815,520 25,642 1,841,162 1,881,156
Teaching: Other costs 143,161 143,161 141,187
Welfare: Other costs 188,485 188,485 193,865
Premises: Staff costs 60,660 60,660 87,633
Premises: Other costs 349,550 349,550 135,676
Scholarships,
bursaries		 &discounts 137,743 137,743 191,923
2,695,119 25,642 2,720,761 2,631,440
Support costs
Staff costs 214,865 214,865 246,170
Depreciation
-owned assets		 147,033 147,033 165,926
Governance
costs - Audit fee		 7,931 7,931 8,263
Other fees paid to Auditors 3,960 3,960 3,830
Legal &professional 17,729 17,729 44,977
Inspection 3,870 3,870 3,865
Bank interest payable 81,801 81,801 80,019
Change
in fair value of		 interest rate swap (84,964) (84,964) (29,327)
Other costs 137,500 137,500 154,798
529,725 529,725 678,521
3,224,844 25,642 3,250,486 3,309,961

7 Tangible fixed assets Tangible fixed assets
Land and Fixtures, Computers Total
buildings fittings 8
equipmentf
Cost
At 1 September 2020 5,837,716 323,704 160,815 6,322,235
Additions 229,137 6,962 26,912 263,011
Disposals (48,193) - (48,193)
At 31August 2021 6,066,853 282,473 187,727 6,537,053
Depreciation and impairment
At 1 September 2020 1,360,367 229,845 131,201 1,721,413
Depreciation charged in the year 108,084 17,194 21,755 147,033
Eliminated
in		 respect ofdisposals (48,193) - (48,193)
At 31August 2021 1,468,451 198,846 152,956 1,820,253
Carrying
amount
At 31August 2021 4,598,402 83,627 34,771 4,716,800
At 31August 2020 4,477,349 93,859 29,614 4,600,822
8 Financial instruments 2021f 2020f
Carrying
amount offinancial		 liabilities
Measured
at		 fair value through profit or loss
-Other financial
liabilities		 307,958 392,922
9 Debtors
Amounts
falling due		 within one year: 2021 2020f
Trade debtors 13,672 10,555
Other debtors 4,254 16,167
Prepayments and accrued income 41,340 50,806
59,266 77,528

2021 2020f
Bank loans 1,461,395 1,506,135
Payable within one year 106,839 99,767
Payable after one year 1,354,556 1,406,368
Amounts included above which fall due after five years:
Payable by instalments 529,547 585,077

Creditors : amount s
falling		 du e aft er more than one yea r
2021 2020
Notes
Loans and overdrafts 10 1,354,556 1,406,368
Derivative financial instruments - Interest rate swap 307,958 392,922
Deferred income - Advance payment scheme 14 1,833
Pupils security deposits 277,000 285,750
1,939,514 2,086,873

2021f 2020
Fees in advance 459,211 499,980
Advance Payment Scheme 2,667 17,112
461,878 517,092
Deferred income is included in the financial statements as follows:
2021 2020f
Current liabilities 461,878 515,259
Non-current
liabilities		 1,833
461,878 517,092

Operating
lease		 com mitments
At the reporting end date the charity had outstanding commitments for future minimum
lease		 payments
under non-cancellable operating leases, which fall due as follows:
2021f 2020f
Within one year 40,666 11,417
Between two and five years 156,492 1,543
In over five years 149,971
347,129 12,960
2021f 2020f
Aggregate compensation 178,557 191,540

Cash generated
from operations		 2021 2020
Surplus
for the year		 81,303 66,449
Adjustments
for:
Investment
income recognised
in statement
Fair value change
in interest rate swap		 offinancial activities (15)
(84,964)		 (172)
(29,327)
Depreciation
and impairment
of		 tangible fixed assets 147,033 165,926
Movements
in working
capital:
Decrease/(increase)
in debtors
(Decrease)
in creditors		 18,262
(228,251)		 (41,737)
(45,176)
(Decrease)/increase
in deferred		 income (55,214) 57,703
Cash (absorbed
by)/generated		 from operations (121,846) 173,666

Analysis of changes
in net (debt)/funds
At 1 September Cash flows Fair value At 31August
2020 movements 2021
Cash at bank and in hand 690,878 (360,958) 329,920
Loans falling due within one year (99,767) (7,072) (106,839)
Loans falling due after more than one year (1,406,368) 51,812 (1,354,556)
Derivatives relating to debt (392,922) 84,964 (307,958)
(1,208,179) (316,218) 84,964 (1,439,433)

Changes to th e balance s heet
At 31August 2020
As previously Adjustment As restated
reported f
Creditors due after one year
Derivatives (392,922) (392,922)
Total funds 2,679,436 (392,922) 2,286,514
Changes to the statement offinancial activities
Period ended 31August 2020
As previously Adjustment As restated
reported
E		 f
Charitable activities 3,339,288 (29,327) 3,309,961
Net movement in funds 37,122 29,327 66,449