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|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|
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|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.|
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|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|
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||||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|
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|||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|
##
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|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|
##
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##
||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|