#
##
##
|||Page|
|---|---|---|
|General
information|||
|Trustees'
annual
report|||
|Auditors
report||10|
|Consolidated
statement
of financial|activities||
|Consolidated
and charity balance|sheets|13|
|Consolidated
cash flow statement||14|
|Notes to the financial
statements||15|
##
|Montessori|St Nicholas|Limited
is a charitable
company,
registered|Limited
is a charitable
company,
registered|Limited
is a charitable
company,
registered|in|the UK|and limited
by guarantee.|The|
|---|---|---|---|---|---|---|---|---|
|Charity uses|an abbreviated||name of Montessori
St Nicholas —MSN.||||||
|Company|number||531204||||||
|Charity number|||313636||||||
|Registered|office and||4/4a Bloomsbury
Square||||||
|operational|address||London||||||
||||WC1A 2RP||||||
|Contact|||T:0207493 8300||||||
||||E:rece
tion
montessori. or .uk||||||
||||W:www. montessori-group.
corn||||||
|Trustees|||Trustees who are also members|and directors under company
law, who served|||||
||||during the year and up to the date ofthis||report were as follows:||||
||||A Bashenko||||||
||||A Howat||||||
||||J Barberis (appointed
18March 2020)||||||
||||A Barron (appointed
4 December|2019)|||||
||||A El-Aghel (appointed
4 December 2019)||||||
||||SThomas||||||
||||P Vickers (appointed
18March 2020)||||||
||||A Joyce (appointed
18March 2020, resigned 7January 2021)||||||
||||JOsgood (appointed
4 December|2019,|resigned||15September 2020)||
||||M De Rudder (appointed
4 December 2019,resigned 19June 2020)||||||
||||G Sidhu-Robb
(appointed
15May 2019,||resigned||14September 2020)||
|Bankers|||HSBC Bank PLC||||||
||||PO Box 1EZ, 196Oxford Street,|London,||W1C 1NT|||
||||Lloyds Bank PLC||||||
||||399Oxford Street, London, W1C 2BU||||||
|Auditors|||Haysmacintyre
LLP||||||
||||10Queen Street Place, London,|EC4R|1AG||||
|Investment|managers||Newton
Investment
Management|Limited|||||
||||BNY Mellon Centre, 160Queen|Victoria|Street, London, EC4V 4LA||||
||||Sarasin &Partners
LLP||||||
||||Juxon House, 100St Paul's Churchyard,|||London,|EC4M 8BU||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||Note|2020|2019|
|---|---|---|---|---|---|---|
||||||Unrestricted|Unrestricted|
||||||Funds|Funds|
|||||||E|
|Income from:|||||||
|Donations
and|legacies||||1,050|254,192|
|Charitable
activities|||||667,154|861,268|
|Investment
income|||||32,813|90,617|
|Other income|||||291,535|4,924|
|Total|||||992552|1 211,001|
|Expenditure
on:|||||||
|Charitable
activities|||||3,257,102|4,136,818|
|Total|||||3,257 102|4,136,818|
|Net expenditure|before (losses)/gains||on||(2,264,550)|(2,925,817)|
|investments|||||||
|Net (losses)/gains||on investment||12|(6,717)|13,432|
|Net expenditure|||||(2,271,267)|(2,912,385)|
|Net movement|in|funds|||(2,271,267)|(2,912,385)|
|Reconciliation|of|Funds:|||||
|Funds brought|forward at 1 September|||19|11,823,793|14,736,178|
|Funds carried|forward at 31 August|||19|9,552,526|11,823,793|
##
##
|GROUP AND CHARITY BALA|GROUP AND CHARITY BALA|GROUP AND CHARITY BALA|NCE SH|EETS||||
|---|---|---|---|---|---|---|---|
|Year ended 31 August 2020||||||Company|number: 00531204|
|||||Group|Group|Charity|Charity|
||||Note|2020|2019|2020|2019|
||||||||E|
|Fixed assets||||||||
|Tangible fixed assets|||10,11|94,524|7,816,802|52,785|7,799,487|
|Investments|||12|17499|2,492,137|17599|2492,237|
|||||112023|10308939|70384|10291,724|
|Current assets||||||||
|Assets held for|sale||14|7,672,910|1,294,252|7,672,910|1,294,252|
|Stock|||15|5,575|6,020|||
|Debtors|||16|143,885|449,609|53,211|1,053,345|
|Cash at bank and in||hand||2,203,863|782,680|2,136818|639,029|
|||||10,026,233|2,532,561|9,862,939|2,986,626|
|Creditors: amounts||falling||||||
|due within one|year||17|(585,730)|(1,017,707)|(229,781)|(548,598)|
|Net current assets||||9440,503|1,514,854|9633158|2,438,028|
|Net assets||||9,552,526|11,823,793|9,703,542|12,729,752|
|Funds||||||||
|Unrestricted
funds||||||||
|Revaluation|ofinvestments|||6,595|1,767,796|6,595|1,767,796|
|General reserves||||9,545,931|10,055,997|9,696,947|10,961,956|
|Total funds|||19|9,552,526|11,823,793|9,703,542|12,729,752|
##
##
||||||2020|2019|
|---|---|---|---|---|---|---|
||||||E|F|
|Cash outflow from operating
activities:|||||||
|Net cash used in operating
activities||||A|2329093|2,750,285|
|Cash flows from investing
activities:|||||||
|Proceeds from sale ofinvestments|||||2,467,920|2,600,001|
|Investment
income received|||||31,459|90,557|
|Interest receivable|||||1,354|60|
|Purchase oftangible fixed assets|||||(44,936)|(75,543)|
|Sale oftangible
fixed assets|||||1,294,479||
|Net cash provided
by investing
activities|||||3,750,276|2,615,075|
|Change
in cash and cash equivalents|in the reporting|period||B|1,421,183|(135,210)|
|Cash brought
forward
at 1 September|||||782,680|917,890|
|Cash carried forward at 31August|||||2,203,863|782,680|
||||||2019|2019|
|Notes to group cash flow statement|||||||
|A. Cash flows from operating
activities|||||||
|Net expenditure|||||(2,271,267)|(2,912,385)|
|Adjustments
for:|||||||
|Net losses /(gains)
on investments|||||6,717|(13,432)|
|Investment
income received|||||(31,459)|(90,557)|
|Interest receivable|||||(1,354)|(60)|
|Depreciation
oftangible
fixed assets|||||51,717|49,540|
|Write down oftangible fixed assets|||||42,361|52,896|
|Decrease / (increase)
in debtors|||||305,724|(212,061)|
|(Decrease)/ increase
in creditors due within one year|||||(431,977)|374,145|
|Decrease in stock|||||445|1,629|
|Net cash used in operating
activities|||||2,329,093|2,750,285|
|||At 1|September||Cash flows
At|31August|
||||2019|||2020|
|B.Analysis ofcash and cash equivalents|||||||
|Cash at bank and in hand|||782,680||1,421,183|2,203,863|
|Total cash and cash equivalents|||782,680||1,421,183|2,203,863|
##
##
##
##
##
##
##
##
##
##
##
|Notes to the Financial Statements|Notes to the Financial Statements|Notes to the Financial Statements|Notes to the Financial Statements|Notes to the Financial Statements|Notes to the Financial Statements||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Year ended 31 August 2020|||||||||||
|2.|Income from charitable|||activities|||||||
||||||||||2020|2019|
||Professional|training —fees|||||||492,845|656,954|
||Early years|education —fees||||||||130,763|
||Montessori|Magazine,|MSA 8 MEAB||||||4,140|51,619|
||Montessori|Conference|||||||123,817||
||Other charitable
income||||||||46,352|21,932|
||||||||||667 154|861,268|
|3.|Investment|income|||||||||
||||||||||2020|2019|
||||||||||E|E|
||Bank interest||||||||1,354|60|
||UK listed investments||||||||31,459|90,557|
||||||||||32,813|90,617|
|4.|Expenditure|on charitable|||activities||||||
||||||||||2020|2019|
||||||||||E||
||Professional|training|||||||2,736,194|2,602,179|
||Early years|education||||||||555,087|
||Montessori|Magazine,|MSA 8 MEAB||||||48,576|491,412|
||Montessori|Network|||||||29,656||
||Grants, Social impact and Fundraising||||||||212,201|488,140|
||Montessori|Conference|||||||230475||
||||||||||3,257,102|4,136,818|
||Included
in the above are|||support|||costs which have been allocated as follows:||||
||||||||||2020|2019|
||||||||||F|F|
||Professional|training|||||||1,352,207|1,644,995|
||Early years|education||||||||350,904|
||Montessori|International||magazine|||(MIM)||19,305|22,757|
||Montessori|Schools Association||||(MSA)|||1,563|245,373|
||Montessori|Network|||||||14,656||
||Grants, Social impact and Fundraising||||||||104,868|308,583|
||Montessori|Evaluation|and||Accreditation|||board (MEAB)|3,137|42,521|
||Montessori|Conference|||||||113899||
||||||||||1,609,636|2,615,133|
##
##
##
|
f119,696(2019:f13,236)|
and depreciation
and amortisation|
F51,717(2019:f86,066).||
|---|---|---|---|
|.
Net movement
on funds|after charging|2020|2019|
||||F|
|Auditor's
remuneration:||||
|Audit services —Charity||7,500|7,250|
|Audit services —Subsidiary|companies|6,200|6,500|
|Non-audit
services —group||7,415|6,400|
|Depreciation
oftangible fixed assets||51,717|49,540|
|Impairment
oftangible
fixed|assets|42,360|52,896|
##
##
|During the|year, grants|were awarded as foll|ows:||||
|---|---|---|---|---|---|---|
||||2020
No|2020|2019
No|2019
f|
|Individual|scholarship|grants|22|38,900|54|62,098|
##
|summary
|ofthe fin|a|ncial
acti|vities unde|rtaken
by the Charity i|s set out|below:||
|---|---|---|---|---|---|---|---|---|
||||||||2020|2019|
|||||||||E|
|Gross income|||||||812,450|641,242|
|Total expenditure
on|||charitable|activities|and cost of generating|funds|(3,831,943)|(2,798,896)|
|Unrealised|investment||gains /|(losses)|||6,717|13,432|
|Net Income|||||||(3,026,210)|(2,144,222)|
|Total funds|brought|forward at||1 September|||12,729,752|14,873,974|
|Total funds|carried||forward|at 31August|||9,703,542|12,729,752|
##
##
|tatements
were|not|subject to audit for|the year ended 31 August 2020.|the year ended 31 August 2020.|||
|---|---|---|---|---|---|---|
||||St.Nicholas Montessori||Longacre|Childcare
Ltd|
||||Training|Ltd|||
|Turnover|||2020
f|2019
E|2020|2019
E|
||||1,018,607|1,100,925||130,763|
|Cost ofsales and|||||||
|administration||costs|(2,142,759)|(1,753,181)|(16,023)|(246,677)|
|Other operating|income||1,897,193||||
|Interest received|||5||||
|Net profit
/ (loss)|||773,046|(652,247)|(16,023)|(115,914)|
|The assets and|liabilities ofthe||||||
|subsidiaries
were:|||||||
|Fixed assets|||41,740|17,316|||
|Current assets|||180,283|499,027|26,468|72,729|
|Current
liabilities|||(398,118)|(1,465,486)|(1,287)|(31,525)|
|Total net (liabilities)/assets|||(176,095)|(949,143)|25,181|43,274|
|Allotted, called|up|and fully paid|||||
|shares|||100|100|||
##
##
|n addition to the above, red|undancy
pa|yments
off1|9,855(20|19:f15,3|99)|were made to|staff.|
|---|---|---|---|---|---|---|---|
|||||||Number|Number|
|The number ofemployees|whose total|emoluments,|including|benefits|in|||
|kind) for the year (excluding|employer|pension costs), exceeded||||||
|F60,000 - F69,999||||||||
|f70,000 - 679,999||||||||
|F80,000-f100,000||||||||
|F100,000 - 6120,000||||||||
|E120,000 - F130,000||||||||
|f130,000 - F140,000||||||||
|F.140,000 - F150,000||||||||
##
##
##
|10.
Tangible fixed a|ssets|||||||
|---|---|---|---|---|---|---|---|
||||Computer|||Fixtures||
|For use by the Charity||Leasehold|hardware|||and fittings||
||Freehold|improve-|and||Website|8||
||property|ments|software||and CRM|equipment|Total|
||||||F|||
|Cost:||||||||
|At 1 September 2019|7,672,910|28,954|114,726|'|107,757|27,349|7,951,696|
|Additions|||5,425||5,460|1,136|12,021|
|Impairment|||(25,291)||(17,070)||(42,361)|
|Disposals||(28,954)|(227)||||(29,181)|
|Transferred
to current||||||||
|assets|(7,672,910)||||||(7,672,910)|
|At 31August 2020|||94,633||96,147|28,485|219,265|
|Depreciation:||||||||
|At 1 September 2019||28,954|56,593||49,912|16,750|152,209|
|Charge for the year|||18,858||21,573|2,794|43,225|
|Adjustment
for disposals||28,954|||||28 954|
|At 31August 2020|||75,451||71,485|19,544|166480|
|Net book value:||||||||
|At 31 August 2020|||19,182||24,662|8,941|52 785|
|At 31 August 2019|7,672,910||58,133||57,845|10,599|7,799,487|
|11.
Tangible fixed assets||||||||
||||Computer|||Fixtures||
|For use by the Group||Leasehold|hardware|||and fittings||
||Freehold|improve-|and||Website|&||
||property|ments|software||and CRM|equipment|Total|
||K||E|||||
|Cost:||||||||
|At 1 September 2019|7,672,910|41,463|160,275||122,757|64,376|8,061,781|
|Additions|||33,465||5,460|6,011|44,936|
|Impairment|||(25,291)||(17,070)||(42,361)|
|Reciassification|||15,002||(15,002)|||
|Disposals||(41,463)|(3,720)|||(24,707)|(69,890)|
|Transferred
to current||||||||
|assets|(7,672,910)||||||(7,672,910)|
|At 31August 2020|||179,731||96,147|45,680|321,558|
|Depreciation:||||||||
|1 September 2019||41,463|109,103||49,912|44,501|244,979|
|Charge for the year|||26,402||21,573|3,742|51,717|
|Adjustments
for:||||||||
|Reclassification|||(6,153)||6,153|||
|Disposals||41 463|12,768|||15,431|69662|
|At 31 August 2020|||116,584||77638|32,812|227 034|
|Net book value:||||||||
|At 31 August 2020|||63 147||18,509|12,868|94524|
|At 31 August 2019|7,672,910||66,172||57,845|19,875|7,816,802|
##
|Fixed asset investment|s|||||
|---|---|---|---|---|---|
|||Group|Group|Charity|Charity|
|||2020|2019|2020|2019|
|||||E||
|Total investments:||||||
|Financial
investments||17,499|2,492,137|17,499|2,492,137|
|Investments
in subsidiaries||||100|100|
|||17499|2,492,137|17,599|2 492,237|
|Total financial investments:||||||
|Market value
1 September||2,492,138|5,078,706|2,492,238|5,078,806|
|Disposals||(2,467,922)|(2,600,001)|(2,467,922)|(2,600,001)|
|Net investment
gains in the year||6,717|13,432|6,717|13;432|
|Market value 31 August||17499|2,492 137|17,599|2,492 237|
|Cost at 31 August||10,904|724,341|10,904|724,341|
|Investment
in subsidiary||||100|100|
|Cumulative
unrealised|gains|6,595|1,767,796|6,595|1,767,796|
|Total UK listed investments||17,499|2,492,137|17,599|2,492,237|
##
|esults for|esults for|the below subsidiarie|s
are included
in|the Group bal|ances ofthes|ances ofthes|e accounts:||
|---|---|---|---|---|---|---|---|---|
|Subsidiary||undertaking|Country of|Principal|activities|||Authorised|
||||registration|||||and issued|
||||andi or|||||share|
||||operation|||||capital|
|St. Nicholas
Montessori|||United|The training||ofstudents|in the|Ordinary|
|Training|Ltd —100%direct||Kingdom|Montessori||Philosophy,|providing|F100|
|holding||||recognised||qualifications|for students||
|Company||No. 06429337||toteach.|||||
|Longacre|Childcare
Ltd||United|The provision ofearly years learning||||Ordinary|
|100%direct holding|||Kingdom|underpinned||by the Montessori||F1|
|(Company||No. 04633593)||Philosophy,||now discontinued.|||
|Group|8 charity|Group and charity|
|---|---|---|
||2020|2019|
||7,672,910|1,294,252|
##
##
##
|16.|Debtors||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Group|Group|Charity||Charity|
|||||||2020
f|2019
f|2020f||2019|
||Trade debtors|||||49,689|203,566|273||128,324|
||Other debtors||||||220|||131|
||Due from subsidiary||||undertakings|||||772,372|
||HMRC —VAT||||||53,280|||53,280|
||Prepayments|and||accrued income||94,196|192,543|52,938||99,238|
|||||||143,885|449,609|53,211||1,053,345|
|17.|Creditors
falling||due within one year||||||||
|||||||Group|Group|Charity||Charity|
|||||||2020
f|2019
f|2020f||2019
f|
||Trade creditors|||||103,694|427,851|55,500||251,255|
||Other taxes and social security|||||33,984|12,011|16,637|||
||Deferred income|||||246,964|338,672|2,538||25,300|
||Accruals|||||172,498|119,111|132,177||77,090|
||Due to subsidiary|||undertakings||||21,036||72,391|
||Other creditors|||||28,590|120,062|1,893||122,562|
|||||||585,730|1,017,707|229,781||548,598|
|18.|Deferred income||||||||||
|||||||Balance|Released|Deferred|in|Balance|
|||||||1 September|from prior|Current||31August|
|||||||2019
f|yearf|year
f||2020
f|
||Group||||||||||
||Accreditation|fees||||||2,538||2,538|
||Training courses|||||246,664|(246,664)|244,426||244,426|
||Tickets for event||in||September 2019|92,006|92,008||||
|||||||338,672|203,816|246,964||246,964|
|||||||Balance|Released|Deferred|in|Balance|
|||||||1 September|from prior|Current||31August|
|||||||2018
f|yearf|yearf||2019
f|
||Group||||||||||
||Training courses|||||203,816|(203,816)|246,664||246;664|
||Tickets for event||in||September 2019|||92,008||92008|
|||||||203,816|203816|338672||338672|
##
##
##
|The group's
future
minimum
operating
lease payme|nts
are as follows:|nts
are as follows:|
|---|---|---|
||Equipment||
|Group and Charity|2020
f|2019
f|
|Leases which expire:|||
|Within one year|2,864|4,151|
|Within two to five years||2,574|
##
##
##
##
##
##