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2023-08-31-accounts

Executives and Advisors
Trustees'
Report including
Strategic Report		 3-15
Statement ofDirectors'
Responsibilities		 16
Report ofthe Auditors 17-19
Statement offinancial
activities		 20
Balance sheet 21
Statement ofCash Flows 22
Notes to the financial
statements		 23-34

Key Risk Key Risk Potential Impact on Objectives 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;
au 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
controls
in
place; monitoring
ofbudgets
and
financial results.
Governance and management Lack ofclear plans and priorities; Strategic plans reviewed
structure and skills poor value for money; poor annually;
monitoring
ofbudgets
insufficient to meet the service delivery;
uncertainty		 on and financial results; regular
Organisation's objectives, staff and board roles and Steering Committee
meetings;
financial resources insufiicient to responsibilities;
loss ofkey stafi'I		 clear understanding
ofroles and
meet the Organisation's needs competition
&om other		 responsibilities;
robust
Montessori
training
centres and		 recruiiment
process;
schools documentation
ofsystems
and
procedures;
marketing
plan in
place and monitoring of
competition.
Regulatory, political and legal Lack ofcompliance
with		 Key legal and regulatory
changes, compulsory closure of government
regulations		 and requirements
identified
and
school and/or college, possible authorities,
including
Ofsted;		 proposed
changes monitored;
changes to charity's mandatory Educational
Oversight;		 membership
ofumbrella
bodies
business rates relief, VAT withdrawal
ofcollege status;		 eg ME(UK), ISBA;Health dt
changes. withdrawal
ofhighly
trusted		 Safety reviews; fire safety
sponsor status by the UKVI, loss reviews; delegated
staff
ofstudents
from Europe,		 risk to responsible
for regulatory
areas;
service delivery,
loss of		 students monitoring
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 31stAugust
Income and Kx enditure Account
8thousand 2023 2022 2021 2020 2019
Incomin
Resources		 4397 3 580 3 385 2 965 2 840
Resources Ex ended 3718 3 415 3 151 2 875 2 811
Net Income/
Ex
nditure		 679 165 234 90 29

alance Sheet Extract
Kthousand 2023 2022 2021 2020 2019
Fixed Assets 8424 8432 7797 7 851 7907
Current Assets less Liabilities 410 277 193 95 241
Funds —Restricted
Funds —Unrestricted 8,829 8,153 7,985 7,754 7,664

umbers
ofstudents
a		 nd chi ldren
No 2023 2022 2021 2020 2019
Students 3-6Course 79 94 96 63 72
Students 0-3 Course 15 19 31 31 31
Students 6-12Course 40 22 22 20
Assistants/Orientation Courses 254 343 441 238 87
Other Courses and Worksho s 661 476 772 356 365
School children 210 194 187 187 181

Statement of Financial Activities Financial Activities
For the year ended 31stAugust 2023
Unrestricted Restricted Total Total
Funds Funds Funds Funds
Income and Expenditure note 2023 2022
f
Income
Income from charitable activities:
Course and other fees receivable 2 3,804,084 3,804,084 3,553,796
Income from generated funds:
Donations
and legacies		 3/14 514,694 61,738 576,432 24,728
Interest receivable 15,058 15,058 458
Other Income 892 892 819
Total Income 4,334,728 61,738 4,396,466 3,579,801
Expenditure
Charitable
Activities		 4 3,658,834 58,827 3,717,661 3,415,162
Total Expenditure 3,658,834 58,827 3,717,661 3,415,162
Net Income and net movement in funds 675,894 2,911 678,805 164,639
Balances brought
forward
I"September 2022		 at 14 8,152,506 2,178 8,154,684 7,990,044
Balances carried forward at 14 8,828,400 5,089 8,833,489 8,154,684
31n August 2023
no/e 2023
f		 2023 2022f 2022
Fixed Assets
Intangible
Assets		 8
Tangible assets 9 8,423,904 8,431,960
8,423,904 8,431,960
Current
Assets
Debtors
Cash at bank and in hand		 /0 185,154
1,711,914		 130,851
927,929
1,897,068 1,058,780
Creditors: amounts falling due within // (1,284,053) (1,198,581)
one year
Net Current Assets I(Liabilities) 613,015 (139,801)
Total Assets Less Current Liabilities 9,036,919 8,292,159
Creditors: amounts falling due after
More than one year (203,430) (137,476)
Total Net Assets 8,833,489 8,154,684
Funds
Restricted funds
Unrestricted
funds:		 /4 5,089 2,178
General
Designated		 /4 7,522,910
1,305,490		 7,465,693
686,812
8,833,489 8,154,684

Total funds Total funds
2023 2022
nore
Cash Flows from Operating activities: 843 669 2111342
Net cash provided by (used in) operating activities 17 843,669 281,342
Cash Flows from Investing activities:
Interest 15,058 458
Purchase ofFixed Assets (74,744) (712,651)
Net Cash provided by (used in) investing activities (59,686) (712,193)
Change in cash and cash equivalents
in the year		 783,983 (430,851)
Cash and cash equivalents at 1stSeptember 2022 927,931 1,358,782
Cash and cash equivalents at 31stAugust 2023 18 I 711914 927931

Total Funds Total Funds
2023 2022
School Fees:
Gross Fees
Bursaries/Discounts
Government
Grants
Other School Income		 2,998,148
(321,672)
132,871
~34 95		 2,513,913
(250,147)
156,699
31 823
Course Fees: 2,844,303 2,452,288
Gross Fees
Bursaries/Discounts		 1,044,504
~8723		 1,168,398
~66890
959,781 1,101,508
3,804,084 3,553,796

2023 Direct Staff Costs Allocation of Total Funds
Costs Administration 2023
Costs
Salaries and social security
Course Salaries 567,312 146,618 713,930
School salaries 1,243,195 321,296 1,564,491
Catering 168,073 57,995 28,326 254,394
Teaching aids, materials and other direct
expenses 81,478 6,466 87,944
Examination costs 1,847 147 1,994
AMI fees 52,501 4,166 56,667
Property costs 853,851 12,980 67,759 934,590
Advertising 60,207 4,778 64,985
Governance Costs 21,048 17,618 38,666
1,239,005 1,899,100 579,556 3,717,661
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 7,981 115,454
Examination costs 1,619 120 1,739
AMI fees 58,796 4,367 63,163
Property
costs		 809,362 13,093 60,107 882,562
Advertising 58,068 4,312 62,380
Governance Costs 20,976 15,846 36,822
1,188,685 1,701,629 524,846 3,415,162

Administration
Costs
2023
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2023 2022
Salaries
Accountancy
and Payroll
Legal and Professional
Inspection
and accreditation
Montessori
Education (UK) Limited
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		 334,558
7,602
79,912
6,494
882
6,903
32,632
15,896
5,110
11,176
4,306
16,628
2,820
13,125
2,607
9,101
20,977		 8,827 343,385
7,602
79,912
6,494
882
6,903
32,632
15,896
5,110
11,176
4,306
16,628
2,820
13,125
2,607
9,101
20,977		 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
570,729 8,827 579,556 524,847

2022
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2022 2021
Salaries
Accountancy
and Payroll
Legal and Professional
Inspection
and accreditation
Montessori
Education (UK) Limited
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		 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
8423
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

et Movements
in Funds
2023 2022
The net movement
infunds is staled		 after charging:
Auditors'
reniuneration:
- current year
- (Over)/Under
provision
in prior year
- In respect ofother services
Depreciation —tangible fixed assets		 21,048
7,121
76,602		 19,500
1,326
6,646
74,783
Amortisation
—intangible
assets
Loss/ (Surplus) on Disposal ofFixed Assets
Operating
Leases		 6,199
375,320		 (932)
316,000
Directors and Employees
2023 2022
Staffcosts during the year were as follows:
Wages and salaries
Social security costs
Pension costs (defined contribution
scheme)		 1,866,095
187,592
49,480		 1,711,226
175,444
47,388
Pension Costs (other) 9,537 12,440
2,112,704 1,946,498

2023 2022
number number
NOTES TO THE FINANCIAL STATE
8
Intangible
Assets		 MENTS (CONTINUED)
IT
Developiuent
Cost
At 1"September 2022
Additions
in the Year		 65,240
At 3 1u August 2023 65,240
Amortisation
At 1"September 2022
Charge for the Year		 65,240
At 31"August 2023 65,240
Net Book Value
At31"August 2023
At 31u August 2022

Freehold Building Oflic and
Cost Land and
Buildings
f		 Improvem
entsf		 Kitchen
Eitutpment
f		 Computer
&IT
f		 Totalf
At 1st September 2022
Additions
Disposals		 6,603,789 2,054,119
65,575
(6,199)		 203,752
3,034
(81,699)		 43,833
6,135		 8,905,493
74,744
(87,898)
At 31stAugust 2023 6603 789 2 113495 125087 49968 8892339
Depreciation
At 1st September 2022
Charge for the year
On Disposals		 286,181
55,625		 162,579
13,150
(81,699)		 24,772
7,827		 473,532
76,602
(81,699)
At 31stAugust 2023 341 806 94 030 32599 468 433
Net Book Value
At 31stAugust 2023 6603789 1 771 689 31 057 17369 8423 904
At 31stAugust 2022 6603789 I 767937 41 173 19061 8 433 960

10
Debto		 rs
2023 2022
Trade Debtors 101,443 71,649
Provision for bad and doubtful debts (35,070) (39,704)
Prepayments
Other debtors		 and accrued income 98,749
20,032		 65,299
33,607
185,154 130,851
11
Creditors: amounts		 falling due within one year
2023f 2022
Trade creditors 93,751 58,998
Social security
Accruals		 and other taxes 44,806
190,904		 43,070
140,941
Deferred income 777,594 786,397
School deposits
Other creditors		 142,700
34,298		 132,850
36,325
1,284,053 1,198,581
Deferred income relates to course fees and school fees received in respect ofthe following year.
Balance at I September 2022
Fees received in advance		 786,397
887,872
Released to statement of financial activities (786,397)
Balance at 31August 2023 887,872

12
Creditors		 : amounts
falling due attter more		 than one year
2023f 2022
Lease Incentive Provision 93,152 104,877
Deferred Income 110,278 32,600
203,430 137,477

Restricted Designated General
Funds Funds Funds Total Funds
Fund balances as at31"August 2023
as represented
by;
Tangible
and intangible
fixed assets
Net Current assets/(liabilities)
Creditors falling due after more than
one year		 5,089 7,867,372 556,532
607,926
(203,430)		 8,423,904
613,015
(203,430)
Total Net Assets 5,089 7,867,372 961,028 8,833,489
Unrestricted
Restricted Designated General
Funds Funds Funds Total Funds
Fund balances as at31"August 2022
as represented
by:
Tangible
and intangible
fixed assets
Net Current assets/(liabilities)
Creditors falling due atter more than
one year		 2,178 7,688,608
30,550		 743,353
(172,528)
(137,477)		 8,431,961
(139,800)
(137,477)
Total Net Assets 2,178 7,719,158 433,348 8,154,684

Balance Incoming Outgoing Transfers
B/fwd Resources Resources
Total
g
Unrestricted
Funds
General 7,465,694 4,257,822 (3,658,834) (541,772) 7,522,910
Designated - assets 656,262 607,322 1,263,584
Designated - Bursaries 30,550 (30,550)
Designated
Designated		 —Garden Improvement
—Other		 35,000
41,906		 (35,000) 41,906
8,152,505 4,334,728 (3,658,834) 8,828,400
Restricted Funds
Help The Children Project
Bom Inside Project		 2,178 8,852
2,886		 (8,827) 2,203
2,886
Adolescent Project 50,000 (50,000)
2,178 61,738 (58,827) 5,089
8,154,684 4,396,466 (3,717,661) 8,833,489

At 31 Au gust 2023 the charity had total commitments
und		 er non —cancellable
operating
leases as		 set out below
2023 2022
Land and Land and
Operating Leases which expire: Buildings Buildingsf
Within
I
Within 2
&5Years		 Year
—5 years		 372,820
602,945
132,750		 316,000
779,500
1,108,515 1,095,500

2023 2022
Net income(expenditure)
for the reporting
Adjustments
for:		 period f
678,805		 f
164,639
Depreciation
and amortisation
charges
Proceeds from disposal ofFixed Assets
Dividends,
interest and rents from investments
(Increase)/decrease
in debtors
Increase(decrease)
in creditors		 76,602
6,199
(15,058)
(54,303)
151,424		 74,783
3,289
(458)
(93,859
(54,772)
Net cash provided
by (used in), operating		 activities 843,669 281,340

2023 2022
Cash in hand 221,513 476,457
Notice deposits less than 3 months 1,490,401 451,474
Total Cash and cash equivalents 1,711,914 927,931