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2022-08-31-accounts

Executives and Advisors
Trustees' Report including
Strategic Report		 3-15
Statement ofDirectors'
Responsibilities		 16
Report of the Auditors 17-19
Statement offinancial
activities		 20
Balance sheet 21
Statement ofCash Flows 22
Notes to the financial
statements		 23-33

Key Risk Key Risk Potential Impact on Objectives Potential Impact on Objectives Risk Response
Operational risk Pandemic
(eg COVID-19),		 Contingency
plans for delivery of
enforced school closure, education
remotely;
data backup
computer
failure; destruction		 of procedures
and precautions;
property;
fraud resulting
in		 disaster recovery
plan;
financial
loss; data loss; damage		 recruitment
ofsuitably
qualified
to reputation. staff; DBSclearance for all
students
and staff; appropriate
policies and staff training;
staff
wellbeing
resources available;
insurance
including
cyber
insurance,
financial
conttols
in
place; monitoring ofbudgets
and
financial
results,
Governance and management Lack ofclear plans and priorities; Strategic plans reviewed
structure
and skills
insufficien
to meet the
Organisation's
objectives,
financial
resources
insufficient
meet the Organisation's
needs		 to poor value for money; poor
service delivery;
uncertainty
on
staff and board roles and
responsibilities;
loss ofkey staff;
competition
from other		 annually;
monitoring ofbudgets
and financial
results; regular
Steering Committee
meetings;
clear understanding
ofroles and
responsibilities;
robust
Montessori
training
centres and		 recruitment
process;
schools documentation
ofsystems
and
procedures;
marketing
plan
in
place and monitoring of
competition.
Regulatory
compulsory		 and legal changes,
closure ofschool		 Lack ofcompliance
with
government
regulations
and		 Key legal and regulatory
requirements
identified
and
and/or college, possible changes
to charity's
mandatory
business
rates relief, VAT changes.		 authorities,
including
Ofsted;
School Inspection
Seivice;
withdrawal
ofcollege status;
withdrawal
ofhighly
trusted		 proposed
changes monitored;
membership
ofumbrella
bodies
eg ME(UK), ISBA; Health &
Safety reviews; fire safety
sponsor status by the UKVI,
ofstudents
from Europe, risk		 loss
to		 reviews;
delegated
staff
responsible
for regulatory
areas;
service deliveiy,
loss ofstudents		 nionitoring ofchanges to visa
and/or school children, cost of requirements
and other
living crisis, international
student
issues,
introduction
ofUniversity
sponsored
Foundation
Degree,
remote learnin
lans
re ared.

Five year summary
for		 the year ended 31st August
Income and Ex enditure Account
8thousand 2022 2021 2020 2019 2018
Incomin
Resources		 3 580 3 385 2965 2 840 2 661
Resources Ex ended 3415 3 151 2 875 2 811 2 822
Net Income/
Ex enditure		 165 234 90 161

8thousand 2022 2021 2020 2019 2018
Fixed Assets 8 432 7 797 7 851 7 907 7 947
Current Assets less Liabilities 277 193 95 241 310
Funds —Restricted
Funds —Unrestricted 8,153 7,985 7,754 7,664 7,635
umbers
ofstudents		 and children
No 2022 2021 2020 2019 2018
Students 3-6 Course 94 96 63 72 60
Students 0-3 Course 19 31 31 31
Students 6-12 Course 22 22 20 20
Assistants
Courses		 343 441 238 87
Other Courses and Worksho s 476 772 356 365 431
School children 194 187 187 181 179

Statement of Statement of Financial Activities Financial Activities
For the year ended 31stAugust 2022
Unrestricted Restricted Total Total
Funds Funds Funds Funds
Income and Expenditure note 2022
f		 2021
f.
Income
Income fiom charitable activities:
Course and other fees receivable 2 3,553,796 3,553,796 3,375,226
Income from generated funds:
Donations
and legacies		 3/141 10,055 14,673 24,728 8,012
Interest receivable 458 458 199
Other Income 819 819 1,170
Total Income 3,565,128 14,673 3,579,801 3,384,607
Expenditure
Charitable
Activities		 3,397,121 18,041 3,415,162 3,151,011
Total Expenditure 3,397,121 18,041 3,415,162 3,151,011
Net (Expenditure)/
Income before		 transfers 6 168,007 (3,368) 164,639 233,596
Transfers
Between Funds		 14 (582) 582
Net Movement
in Funds		 167,425 (2,786) 164,639 233,596
Balances brought
forward at
Iu September 2021 14 7,985,080 4,964 7,990,044 7,756,448
Balances carried fomvard at 14 8,152,505 2,178 8,154,683 7,990,044
31"August 2022
Balance Sheet
At 31stAugust 2022
2022 2022 2021 2021
no/e f f.
Fixed Assets
Intangible Assets 8
Tangible assets 9 8,431,960 7,797,381
8,431,960 7,797,381
Current
Assets
Debtors /0 130,851 224,710
Cash at bank and in hand 927,929 1,358,782
1,058,780 1,583,492
Creditors: amounts falling due within // (1,198,581) (1,180,921)
one year
Net Current Assets /(Liabilities) (139,801) 402,571
Total Assets Less Current Liabilities 8,292,159 8,199,952
Creditors: amounts falling due after
More than one year /2 (137,476) (209,908)
Total Net Assets 8,154,683 7,990,044
Funds
Restricted funds 2,178 4,964
Unrestricted funds:
General 7,465,693 7,298,8 I8
Designated 686,812 686,262
/5 8,154,683 7,990,044

Total funds Total funds
2022 2021
note
Cash Flows from Operating activities: 281 340 460 333
Net cash provided by (used in) operating activities 17 281,340 460,335
Cash Flows from Investing activities:
Interest 458 199
Purchase ofFixed Assets (712,651) (119,646)
Net Cash provided by (used in) investing activities (712,193) (119,447)
Change
in cash and cash equivalents
in the year		 (430,853) 340,888
Cash and cash equivalents at 1stSeptember 2021 1,358,782 1,017,894
Cash and cash equivalents at 31st August 2022 18 927 929 1 338 782

2022 Total Funds Total Funds
2022 2021
School Fees:
Gross Fees
Bursaries/Discounts
Government
Grants
Other School Income		 2,513,913
(250,147)
156,699
~82		 2,237,1 14
(279,892)
164,010
U 911
Course Fees: 2,452,288 2,137,143
Gross Fees
Bursaries/Discounts		 1,168,398
{566890		 1,315,789
~77 706
1,101,508 1,238,083
3,553,796 3,375,226

2022 Direct Staff Costs Allocation of Total Funds
Costs Administration 2022
Costs
Salaries and social security
Course Salaries 518,697 135,862 654,559
School salaries 1,111,172 291,049 1,402,221
Catering 132,391 42,821 21,048 196,260
Teaching aids, materials and other direct
expenses 107,473 7,981 115,455
Examination costs 1,619 120 1,739
AMI fees 58,796 4,367 63,163
Property costs 809,362 13,093 60,107 882,563
Advertising 58,068 4,312 62,380
Governance Costs 20,976 15,846 36,822
1,188,686 1,701,629 524,847 3,415,162
2021
Direct Staff Costs Allocation of Total Funds
Costs Administration 2021
Costs
Salaries and social security
Course Salaries 550,514 125,300 675,814
School salaries 1,044,623 237,762 1,282,385
Catering 94,720 42,821 15,621 153,162
Teaching aids, materials and other ditvct
expenses 56,399 3,498 59,897
Examination costs 1,672 104 1,776
AMI fees 59,829 3,711 63,540
Property
costs
Advertising		 768,767
60,921		 47,680
3,778		 816,447
64,699
Governance Costs 17,445 15,846 33,291
1,059,753 1,653,804 437,454 3,151,011

Administration
Costs
2022 Unrestricted Restricted Total Fuads Total Funds
Funds Funds 2022 2021
Salaries
Accountancy
and Payroll
Legal and Professional
Inspection
and accreditation
Montessori
Education (UK) Limited
Staff Life Assmunce
Travel and subsistence
Printing,
postage
and stationery
Telephone
Sundry
Archiving
and study centre costs
Bank charges
Subscription
to examining
body
Bad debt expense
Recruitment
Licenses
Depreciation
Amortisation		 293,899
6,467
64,164
8,613
1,008
9,076
18,620
15,157
4,868
11,373
2,813
16,366
2,059
27,285
2,942
9,754
22,140		 8,243 302,142
6,467
64,164
8,613
1,008
9,076
18,620
15,157
4,868
11,373
2,813
16,366
2,059
27,285
2,942
9,754
22,140		 268,178
6,035
37,739
8,613
7,366
1,681
17,970
8,223
9,709
900
18,826
5,874
(1,445)
12,990
11,761
21,204
1,830
516,604 8,243 524,847 437,454
I Note 13)

2021
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2021 2020
Salaries
Accountancy
and Payroll
Legal and Professional
Inspection
and accreditation
Montessori
Education (UK) Limited		 268,178
6,035
37,739
8,613		 f.
268,178
6,035
37,739
8,613		 300,641
7,998
20,930
14,217
Staff Life Assurance
Travel and subsistence
Printing,
postage
and stationery
Telephone
Sundry
Archiving
and study centre costs
Bank charges
Subscription
to examining
body
Bad debt expense
Recruitment
Licenses
Depreciation
Amortisation		 7,366
1,681
17,970
8,223
9,709
900
18,826
5,874
(1,445)
12,990
11,761
21,204
1,830		 7,366
1,681
17,970
8,223
9,709
900
18,826
5,874
(1,445)
12,990
11,761
21,204
1,830		 8,342
32,302
15,810
13,810
7,951
3,375
17,470
2,577
31,649
6,343
4,627
15,876
2,440
437,454 437,454 506,358

6 Net Movements
in Funds
2022 2021
The net nieve men/ infimds is stater/ after charging.
Auditors'
remuneration.
- current year 19,500 16,500
- (Over)/Under
provision		 in prior year 1,326 944
- ln respect ofother services 6,646 7,494
Depreciation —tangible
fixed assets		 74,783 75,372
Amortisation
—intangible		 assets 1,830
Loss/(Surplus)
on Disposal ofFixed Assets		 932 96,211
Operating
Leases		 316,000 316,000
7 Directors and Employees
2022f 2021f
Staff costs during
the year		 were as follows.
Wages and salaries 1,711,226 1,602,825
Social security costs 175,444 157,172
Pension costs (defined contribution scheme) 47,388 43,831
Pension Costs (other) 12,440 12,440
Redundancy
and Reoiganisation
Costs
1,946,498 1,816,268
2022 2021
number number

8
Intangible		 Assets
IT
Development
Cost
At Ia September 2021
Additions
in the Year		 65,240
At 3 in August 2022 65,240
Amortisation
At I" September 2021
Charge for the Year		 65,240
At 31"August 2022 65,240
Net Book Value
At 31"August 2022
At 31a August 2021
9
Tangible Fixed Assets
Freehold Building Office and Assets
Land and Improvcm Itttchcn Computer Under
Cost Buildings entsf E4tutpmcnt &IT
f		 Construction
f		 Total
f
At 1st September 2021
Additions
Transfers		 6,603,789 1,283,656
774,684		 206,003
12,792		 46,949
5,808		 80,633
694,051
(774,684)		 8,221,030
712,651
Disposals (4,221) (15,044) (8,923) (28,188)
At 31st August 2022 6603789 2054119 203752 43833 8 905493
Depreciation
At 1st September 2021
Charge for the year
On Disposals		 234,732
52,643
(1,193)		 163,758
13,604
(14,783)		 25,159
8,536
(8,923)		 423,649
74,783
(24,899)
At 31stAugust 2022 286 181 162579 24 772 473 533
Net Book Value
At 31stAugust 2022 6603789 1767937 41173 39061 8 431960
At 31st August 2021 6 603 789 I 048 924 42 245 21 790 80 633 7 797 381

10
Debtors		 10
Debtors
2022 2021
Trade Debtors 71,649 109,347
Provision for bad and doubtful debts (39,704) (13,909)
Prepayments and accrued income 65,299 116,522
Other debtom 33,607 12,750
130,851 224,710
11
Creditors: amounts		 falling due within one year
2022 2021
Trade creditors 58,998 58,871
Social security and other taxes 43,070 43,220
Accruals 140,941 128,463
Deferred
income		 786,397 766,045
School deposits 132,850 125,650
Other creditors 36,325 58,672
1,198,581 1,180,921
Defen ed income relates to course fees and school fees received in respect ofthe following
year,
Balance at I September 2021 859,352
Fees received
in advance		 690,373
Released to statement offinancial activities (730,728)
Balance at 31 August 2022 818,997

12
Creditors		 : amounts
falling due after more		 than one year
2022 2021f
Lease Incentive Provision 104,876 116,601
Deferred Income 32,600 93,307
137,476 209,908

Unrestricted Unrestricted
Restricted Dnsignated General
Funds Funds Funds Total Funds
Fund balances as at 31a August 2022
as represented
by;
Tangible
and intangible
fixed assets
Net Current
assets/(liabilities)
Creditors
falling due ager more than		 2,178 7,688,608
30,550		 743,353
(172,528)
(137,477)		 8,431,961
(139,800)
(137,477)
one year
Total Net Assets 2,178 7,719,158 433,348 8,154,684
14
Funds
Balance Incoming Outgoing Transfers
B/fwd Resources Resources
Total
Unrestricted
Funds
General
Designated		 - assets 7,298,8I8
656,262		 3,564,578 (3,397,121) (582) 7,465,693
656,262
Designated -Bursaries 30,000 550 30,550
Restricted Funds 7,985,080 3,565,128 (3,397,121) (582) 8,152,505
Playground
Project
Help The Children
Born Inside Project		 Project 2,178
2,786		 9,798
4,875		 (9,798)
(8,243)		 582 2,178
4,964 14,673 (18,041) 582 2,178
7,990,044 3,579,801 (3,415,162) 8,154,683

17
Reconcilia		 tion
ofcash flows f		 rom operating
activities
2022 2021
Net income(expenditure)
for the reporting		 period 164,639 233,596
Adjustments
for:
Depreciation
and amortisation
charges		 74,783 77,202
Proceeds from disposal ofFixed Assets 3,289 96,211
Dividends,
interest		 and rents from investments (458) (199)
(Increase)/decrease in debtors (93,859 (20,098)
Increase(decrease) in creditors (54,7724) 73,623
Net cash provided by (used in), operating activities 281,3402 460,335

2022 2021
f
Cash in hand
Notice deposits		 less than 3 months 476,455
451,474		 657,697
701,085
Total Cash and cash equivalents 927,929 1,358,782