##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|Unrestricted|Unrestricted||Funds|Funds|Funds|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Fund||||||Fund represents|||||||||Balance at
31 August|
||||||||||||||||2022|
||||||||||||||||2'000|
|Schools|and||Governors'|||Working
capital held|by the Schools||||||||14,226|
|general|funds|||||||||||||||
|Pension|fund|||||Net deficit on the Schools' defined|||||benefit pension|||scheme as||
|||||||calculated
in accordance|||with FRS||102;the Schools|||contribute||
|||||||towards the deficit in accordance||||with an agreed recovery plan||||||
|||||||(see note 18)||||||||||
|Non-charitable|||||trading|Working
capital held|by the Charity's|||||trading|subsidiary|||
|funds||||||||||||||||
|||||||Total Schools funds|||||||||14,227|
|Foundation||income|||fund|Funds
held
by the||Charity
for||expenditure|||on|its general|249|
|||||||purposes||||||||||
|||||||Total unrestricted|funds||||||||14476|
|Restricted||Funds||||||||||||||
|Fund||||||Fund restricted to|||||||||Balance at|
||||||||||||||||31August|
||||||||||||||||2022|
||||||||||||||||S'000|
|Schools|restricted||||fund|Provision ofbursaries,||scholarships||||and prize funds|||217|
|Simon Stuart|||endowment|||Provision of bursaries||for the Boys'||||School|||2|
|Bursaries Appeal||||Fund||Provision of bursaries||for both schools|||||||223|
|||||||Total restricted
funds||||||||||
##
|Endowed|Funds|Funds|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Fund|||Fund represents|||||||Balance at
31August|
|||||||||||2022|
|||||||||||6'000|
|Aske's||permanent|Base value of the endowment
- invested|||to generate||a return||1,578|
|endowment|||that the Charity can use to|support
its general
purposes|||||||
||||Investment
return
generated
by the||endowment||-|used|to|31,461|
||||support
the Charity's
activities (see page 13for details of||||||the||
||||Trustee's
pay out policy in|relation to this fund)|||||||
||||Carrying
value ofthe Schools' land and|||buildings||||104,261|
||||Building
fund*|||||||35,000|
||||Total funds belonging
to|the Aske's|permanent|||||102,300|
||||endowment||||||||
|Other endowed||funds|Endowment
funds invested|to generate||income to|support||the|1,831|
||||provision of bursaries
by the Charity||||||||
||||Total endowed
funds|||||||134131|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||Unrestricted|Funds|||||
|---|---|---|---|---|---|---|---|---|
|||||Asks's|Restricted|Endowment|Total|Total|
||||Schools
F'000|Income
8'000|Funds
e000|Funds
8'000|2022
E'000|2021
f'000|
|income and endowments|from:||||||||
|Donations||||2|612||614|687|
|Charitable
activities:
School fees
Other educational
income||3
4|48,069
4,525|182|257||48,069
4,964|46,689
2,673|
|Other trading
activities:
Trading
income|||366||||366|1,331|
|Other income:|||||||||
|Coronavirus
job retention|scheme|||||||165|
|Investments:|||||||||
|Investment
income|||95|145|||290|178|
||||53,055|329|875|44|54,303|51,723|
|Expenditure
on:|||||||||
|Raising funds:
Loan interest and related
Fees in advance discount|fees||1,028
204||||1,028
204|609
173|
|Investment
management
Trading cost of subsidiaries|||28||||28|1,523|
|Charitable
activities:
Schools|||46,490|1,158|872|1,911|50,431|46,213|
|FRS102pension scheme
net interest cost||18|25||||25|28|
|||5|47,775|1,158|872|1,911|51,716|48,546|
|Net gains on investments||8|347|5|23|2,141|2,516|6,446|
|Net income/(expenditure)|||5,627|(824)|26|274|5,103|9,623|
|Transfers
between funds||6|(20,926)|863|114|19,949|||
|Other recognised
gains:|||||||||
|Actuarial
gains on defined
scheme|benefit|18|1,493||||1,493|10|
|Net movement
in funds|||(13,806)|39|140|20,223|6,596|9,633|
|Reconciliation
of Funds:|||||||||
|Total funds brought
forward
stated)
Prior year restatement|(as previously|1|(6,966)
35,000|209|302|118,908
(35,000)|112,453|102,820|
|Total funds brought
forward|(as restated)||28,034|209|302|83,908|112,453|102,820|
|Total funds carried forward|||14,228|248|442|104,131|119,049|112,453|
##
##
|As at 31Augus|t|202|2||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Group||Charity||
|||||||Note||Restated||Restated|
||||||||2022|2021|2022|2021|
||||||||5'000|5'000|f'000|8'000|
|Fixed assets:|||||||||||
|Tangible assets
Investments||||||7
8|111,838
55,949|91,100
40,500|111,838
55,949|91,100
40,500|
||||||||167,787|131,600|167,787|131,600|
|Current assets:|||||||||||
|Stocks|||||||11|20|11|20|
|Debtors||||||10|1,153|1,995|1,219|2,055|
|Investments|||||||10,080|6,524|10,080|6,524|
|Cash at bank and|in|hand|||||1,752|35,127|1,676|35,060|
||||||||12,996|43,666|12,986|43,659|
|Liabilities:|||||||||||
|Creditors: amounts
one year||falling|due within|||11|(16,084)|(14,221)|(16,075)|(14,216)|
|Net current (liabilities)/assets|||||||(3,088)|29,445|(3,089)|29,443|
|Total assets less|current|||liabilities|||164,699|161,045|164,698|161,043|
|Creditors: amounts
one year||falling||due|in more than|12|(45,650)|(47,049)|(45,650)|(47,048)|
||||||||119,049|113,996|119,048|113,995|
|Defined benefit pension scheme|||||liability|18||(1,543)||(1,543)|
|Total net assets|||||||119,049|112,453|119,048|112,452|
|The Funds ofthe
Endowment
funds|Charity:|||||6|104,131|83,908|104,131|83,908|
|Restricted
funds||||||6|442|302|442|302|
|Unrestricted
funds:
General funds||||||6|14,475|29,785|14,475|29,785|
|Non-charitable
trading
Pension scheme fund|||funds|||6
6|1|1
(1,543)||(1,543)|
|Total Charity Funds|||||||119,049|112,453|119,048|112,452|
##
|||||2022|2022|2021|2021|
|---|---|---|---|---|---|---|---|
|||||6'000|E'000|6'000|U000|
|Net cash (used in)/provided|by operating||activities||(72)||9,562|
|Cash flows from investing
Investment
income received|activities:|||290||178||
|Purchase oftangible
fixed assets||||(24,306)||(12,760)||
|Purchase ofinvestments||||(6,253)||||
|Drawn from Charities
Investment
Pool (Total Return)||||1,445||704||
|Net cash used in investing|activities||||(28,824)||(11,878)|
|Cash flows from financing|activities:|||||||
|Repayment
of borrowing
Receipts of borrowing||||(923)||(889)
35,000||
||||||(923)||34,111|
|Change
in cash and cash
reporting
period|equivalents|in the|||(29,819)||31,795|
|Cash and cash equivalents
reporting
period|at the beginning||ofthe||41,651||9,856|
|Cash and cash equivalents
reporting
period|at the end of||the||11,832||41,651|
##
##
|ASH PROVIDED BYOPER|ATING ACTI|VITIES|||
|---|---|---|---|---|
||||2022|2021|
||||5'000|6'000|
|Net income for the reporting|period||5,103|9,627|
|Adjustments
for:
Gains on investments|||(2,516)|(6,446)|
|Investment
income|||(290)|(178)|
|Depreciation
Loss on disposal
offixed asset|||3,473
95|3,041
139|
|Pension scheme adjustment
(Increase)/decrease
in stocks
Increase
in creditors|||(50)
9
1,387|(34)
(3)
4,057|
|Increase
in debtors|||842|(586)|
|Increase
in cash held for investment|||(8,125)|(55)|
|Net cash (used in)/provided|by operating|activities|(1,918)|9,562|
##
||||2022|2021|
|---|---|---|---|---|
||||5'000|E'000|
|Cash|in hand||10,080|35,127|
|Investments||(current assets)|1,752|6,524|
|Total|cash and cash equivalents||11832|41,651|
##
|YSIS|OF CH|ANGES
IN NET FUNDS||||
|---|---|---|---|---|---|
||||At 1||At 31|
||||September|Cash|August|
||||2021|flows|2022|
||||E'000|E'000|6'000|
|Cash
in hand
Investments
Loans falling
Loans falling||(current assets)
due within one year
due after more than one year|35,127
6,524
(882)
(38,903)|(25,047)
(4,772)
(66)
989|10,080
1,752
(948)
(37,914)|
|Netfu|nds||1,866|(28,886)|(27,838)|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||||||||2022|202|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||E'000|E'000|
|Interest from
Income from
Distributions|bank deposits
investment
property
from Haberdashers'|||||Charities|Investment|Pool (Total Return)|103
143
44|90
46
42|
||||||||||290|178|
|TUITION|||||||||||
||||||||||2022|2021|
||||||||||8'000|8'000|
|Gross Fees|||||||||52,821|51,153|
|Less:|||||||||||
|Scholarships|||||||||(1,089)|(1,015)|
|Bursaries|||||||||(2,891)|(2,866)|
|Staff fee remission|||||||||(1,068)|(947)|
||||||||||47,773|46,325|
|Add back: Bursaries|||paid out of|||restricted|income||296|364|
||||||||||48,069|46,689|
|Numbers
of
Scholarships
Bursaries|pupils|benefiting|||from:||||329
167|301
183|
##
##
##
##
|TOTAL RESOURCES EXPENDED||||||
|---|---|---|---|---|---|
|||Other||||
||Staff|direct|Deprec-|Total|Total|
||Costs|costs|iation|2022|2021|
||E'000|E'000|E'000|E'000|E'000|
|Raising funds:
Loan interest and related fees||1,028||1,028|609|
|Investment
management
Fees in advance
discount||204||204|173|
|Trading costs of subsidiary||28||28|1,523|
|||1,260||1,260|2,305|
|Charitable
expenditure:
Teaching costs
School welfare|21,637
180|3,081
2,486||24,718
2,666|23,551
2,145|
|School premises costs
Public relations
and marketing|1,385|5,110
467|1,911|8,406
467|9,581
312|
|Grants
paid to Haberdashers'
Federation
Trust||789||789|508|
|Support costs
Governance
costs|5,632
13|5,990
189|1,561|13,183
202|10,030
86|
|FRS102 pension scheme net
interest costs (see note 18)||25||25|28|
||28,847|18,137|3,472|50,456|46,241|
|Total resources expended|28,847|19,397|3,472|51,716|48,546|
|Support costs include administration
and grounds
staff, establishment
costs, professional
fees, travel
and equipment
rentals as well as coach services provided
by the Schools. The cost for 2021 is lower
as direct provision
of the services transferred
to the Schools
in April 2021. Previously
the services
were provided
by the Schools' trading
subsidiary
but with the Schools making a contribution
to the
cost. Support costs also include a grant of6500,000 paid tothe Haberdashers'
Asks's Elstree Schools|Support costs include administration
and grounds
staff, establishment
costs, professional
fees, travel
and equipment
rentals as well as coach services provided
by the Schools. The cost for 2021 is lower
as direct provision
of the services transferred
to the Schools
in April 2021. Previously
the services
were provided
by the Schools' trading
subsidiary
but with the Schools making a contribution
to the
cost. Support costs also include a grant of6500,000 paid tothe Haberdashers'
Asks's Elstree Schools|Support costs include administration
and grounds
staff, establishment
costs, professional
fees, travel
and equipment
rentals as well as coach services provided
by the Schools. The cost for 2021 is lower
as direct provision
of the services transferred
to the Schools
in April 2021. Previously
the services
were provided
by the Schools' trading
subsidiary
but with the Schools making a contribution
to the
cost. Support costs also include a grant of6500,000 paid tothe Haberdashers'
Asks's Elstree Schools|Support costs include administration
and grounds
staff, establishment
costs, professional
fees, travel
and equipment
rentals as well as coach services provided
by the Schools. The cost for 2021 is lower
as direct provision
of the services transferred
to the Schools
in April 2021. Previously
the services
were provided
by the Schools' trading
subsidiary
but with the Schools making a contribution
to the
cost. Support costs also include a grant of6500,000 paid tothe Haberdashers'
Asks's Elstree Schools|
|---|---|---|---|
|Foundation
(see note 10)(2021: 6500,000).||||
||||2022
2021|
||||E'000
8'000|
|Charitable
expenditure
includes:||||
|Remuneration
of Charity's
auditors
for:
audit services to the Charity
audit services to the Schools|||15
39
18
45|
|audit services to the pension scheme
tax services|||25
9
8|
|Rentals under operating
leases:
Equipment
Motor vehicles
Payment
to the Trustee for service charges|||412
9
14
439
14|
##
##
||||2022|2021|
|---|---|---|---|---|
||||E'000|E'000|
|Staff costs comprised:
Wages and salaries
Social security costs|||21,567
2,526|20,960
2,364|
|Pension
contributions|||4,378|4,257|
|Other costs|||258|133|
|Payment
ofTrustees'|staff under paymaster|agreement|118|118|
||||28,847|27,832|
||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
||||||||E'000|E'000|
|Aggregate|employee-benefits|||of key|management|personnel|3,371|3,507|
|The average||numbers|ofemployees||in the year were:||||
||||||||2022|2021|
||||||||No.|No.|
|Teaching staff
Other staff|||||||323
212|316
203|
||||||||535|519|
##
##
##
|Numbers
of higher-paid
employees
earning
in exces|s ofE60,000 were:||
|---|---|---|
||2022|2021|
||No.|No.|
|E60,001 to F70,000
E70,001 to E80,000
F80,001 to E90,000
E90,001 to E100,000|53
19
3
4|43
22
3
4|
|E100,001 to E110,000|1|1|
|E140,001 to E150,000|1|1|
|E170,001 to E180,000||1|
|E180,001 to F190,000||1|
|E190,001 to E200,000|||
|E210,001 to E220,000|||
|Payments|made
in addition|to the bandings|above:|2022|2022|2021|2021|
|---|---|---|---|---|---|---|---|
|||||E'000|E/ee No.|E'000|E/ee No.|
|Termination
or redundancy
Out ofwhich are outstanding||payments
at year end||92|5|113
25|8
1|
##
##
|(a) Fund Movements|Balance
18splsmbsr|||Other
recognised|Nst|Balance
31August|
|---|---|---|---|---|---|---|
||2%I|Income|Expenditure|Gainlloss|Transfers|2022|
||8'000|8'000|8'000|8'000|8'000|8'000|
|General funds —Charity:|||||||
|Schools general
fund|||||||
|excluding
building
fund and
pension
Pension reserve*|29,576
(1,543)|52,955|(47,634)
(113)|347
1,493|(21,018)
163|14,226|
|Asks Income Fund|28,033
209|52,955
330|(47,747)
(1,157)|1,840
4|(20,855)
863|14,226
249|
|Total unrestricted
funds—|||||||
|Charity|28,242|53,285|(48,904)|1,844|(19,992)|14,475|
|Non-charitable
trading
funds|1|99|(28)||(71)|1|
|Total unrestricted
funds—|||||||
|Group|28,243|53,384|(48,932)|1,844|(20,063)|14,476|
|Restricted funds
Schools restricted
funds
Simon Stuart Scholarship
Bursaries
Appeal
Fund|120
2
180|869
2
48|(869)
(3)|23|97
(2)
(25)|217
2
223|
|Total restricted
funds|302|919|(872)|23|70|442|
|Endowment
funds
Dr Margaret
Bent endowment
Simon Stuart endowment
Bursaries Appeal endowment|9
90
1,839|||(5)
(102)||9
85
1,737|
|Asks's permanent
endowment**|81,970||(1,912)|2,249|19,993|102,300|
|Total endowment
funds|83,908||(1,912)|2,142|19,993|104,131|
|Total Funds|112,453|54,303|(51,716)|4,009||119,049|
##
##
##
|(b) Fund Transfers|||Non-||||
|---|---|---|---|---|---|---|
||||charitable|Charitable||Permanent|
||||Trading|Unrestricted|Restricted|endowment|
||||funds|funds|funds|fund|
||||f.'000|8'000|8'000|E'000|
|New &replacement
school buildings
Unapplied
total return for application
Transfers to school bursary
funds
Loan repayments
Transfer of Pool investment
income||||(21,41 5)
1,445
(88)
(23)|88
44|21,415
(1,445)
23
(44)|
|Transfer to appeals|and donations|||18|(18)||
|Trading
subsidiary|gift aid|to school|(71)|71|||
||||(71)|(19,992)|114|19,949|
##
|TANGIBLE FIXEDAS|SETS||||||
|---|---|---|---|---|---|---|
||Freehold|Leasehold|All weather|Equipment||Group &|
||land and|land and|sports|and|Motor|Charity|
||buildings
E'000|buildings
8'000|pitches
POOO|furnishings
8'000|Vehicles
8'000|Total
8'000|
|Cost
1 September 2021
Additions
Dieposals|105,104
21,787
(72)|3,354|2,443
174|12,622
2,325
(817)|84
19
(43)|123607
24,305
(932)|
|31 August 2022|126,819|3,354|2,617|14,130|60|146,980|
|Depreciation
1 September 2021
Charge for year
Disposals|23,350
1,911
(40)|289
31|1,008
133|7,783
1,396
(755)|77
2
(43)|32507
3,473
(838)|
|31 August 2022|25,221|320|1,141|8,424|36|35,142|
|Net book value
31 August 2022|101,598|3,034|1,476|5,706|24|111,838|
|31 August 2021|81,754|3,065|1,435|4,839|7|91,100|
##
##
##
|INVESTMENTS|INVESTMENTS||||||
|---|---|---|---|---|---|---|
|Charity and|Group||||2022
E'000|2021
E'000|
|Haberdashers'|Charities|Investment|Pools||41,662|34,366|
|Other unlisted|investments||||181|112|
|Investment
cash|||||14,106|6,022|
||||||55,949|40,500|
|Charity and|Group||||Charities||
|||||Charities|Investment||
|||||Investment|Pool (Total||
|||||Pool|Return)|Total|
|||||E'000|E'000|E'000|
|Market value
Addition|at 1 September 2021|||1,931|32,435
6,253|34,366
6,253|
|Withdrawal|||||(1,445)|(1,445)|
|Gain/(loss)
on revaluation||||(108)|2,596|2,488|
|Market value at 31August 2022||||1,823|39,839|41 662|
##
##
|(base value), that being
endowment
fund.|the bas|e date determ|ined
by the Trus|tees as appropr|iate
for the|Charity's|
|---|---|---|---|---|---|---|
||||Trust|Unapplied|||
||||for|Total|Total|Total|
||||investment|Return|2022|2021|
||||E'000|E'000|E'000||
|||||||E'000|
|Trust for investment
at 1|September 2021||1,578|30,634|32,212|26,933|
|Investment
returns:|||||||
|Realised and unrealised
gains
Transfer to trust for application||||2,249
(1,445)|2,249
(1,445)|6,160
(904)|
|Replacement
ofcapital expended
prior to
inception ofthe total return approach||||23|23|23|
|Trust for investment
at|31August 2022||1,578|31,461|33,039|32,212|
##
##
##
##
|||||Trust|Unapplied|||
|---|---|---|---|---|---|---|---|
|||||for|Total|Total|Total|
|||||investment|Return|2022|2021|
|||||6'000|E'000|E'000|6'000|
|Trust for investment||at 1|September 2021|873|1,058|1,931|1,655|
|Investment|returns:|||||||
|Investment|income||||44|44|42|
|Realised and unrealised|||(losses)/gains||(108)|(108)|276|
|Transfer to|trust for application||||(44)|(44)|(42)|
|Trust for investment||at|31August 2022|873|950|1,823|1,931|
|DEBTORS|AND PREPAYMENTS|||||||
##
##
##
##
##
##
##
##
##
|At 31 Augu
cancellable|st 2022, the Charity was committed
to
operating
leases as follows:|total future
minimum
lease payments|under
non-|
|---|---|---|---|
|||Equipment|Equipment|
|||2022|2021|
|||6'000|6'000|
|Payments
due:
Within one year
Between
1 and 5 years||351
425|355
746|
|||776|1,101|
##
##
##
|are donated to
r.|the C||harity
by|G|ift Aid.|Haberdashers'
Aske'|s School Shop|Limited was wou|Limited was wou|nd
up in|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Haberdashers'|Elstree|Haberdaahers'||Aske's|
|||||||Schools Trading|Limited|School Shop||Limited|
|||||||2022|2021||2022|2021|
|||||||8'000|8'000||8'000|8'000|
|Turnover||||||99|1,523|||80|
|Cost ofsales|||||||(1,471)|||(63)|
|Administration|expenses|||||(27)|(52)|||(36)|
|Operating
profit/(loss)
Other income||||||72|||(1)
9|(19)|
|Taxation||||||(1)|||||
|Gift aid||||||(71)|||||
|Profit/(loss)
for the year
Retained
profit/(loss)
brought||||forward|||||8
(8)|(19)
11|
|Rt1
dp
litt(I||t|1 dl||d|1||||(8)|
|Current assets||||||91|207|||83|
|Creditors
falling|due||within one||year|(90)|(206)|||(91)|
|Net assets/(liabilities)|||||||||||
##
##
##
##
##
##
|18.
PENSION SCHEME (continued)|18.
PENSION SCHEME (continued)|||||||||
|---|---|---|---|---|---|---|---|---|---|
|Present values ofdefined
benefit obligation,||fair value ofassets and defined||||||benefit liability||
|||||||||2022|2021|
|||||||||8'000|E'000|
|Present value offunded
obligations||||||||11,657|16,067|
|Fair value of plan assets
Effect ofasset ceiling||||||||(11,960)
303|(14,524)|
|Net
defined
benefit
(asset)/liability
Sheet|as|recognised|in|the Balance|||||1,543|
|Reconciliation
ofopening
and closing|balances on the||present value|||offunded obligations||||
|||||||||2022|2021|
|||||||||f.'000|8'000|
|Liabilities at the start ofthe period
Current service cost||||||||16,067
81|15,336
101|
|Interest cost||||||||268|258|
|Contributions
by plan participants
Actuarial
(loss)/gain
Loss due to benefit changes
Benefits paid||||||||7
(4,158)
(608)|8
828
110
(574)|
|Liability at the end of the period||||||||11,657|16,067|
|The English
High Court ruling
in Lloyds Banking Group Pension Trustees
Limited vs Lloyd Bank pic and
others was published
on 26 October 2018, and held that UK pension schemes
with Guaranteed
Minimum
Pensions (GMPs) accrued from 17 May 1990must equalise forthe different effects ofthese GMPs between
men and women. The case also gave some guidance
on related
matters,
including
the methods
for||||||||||
|equalisation.
The scheme is contracted|in and|so is unaffected||by this legislation.||||||
|Reconciliation
of opening
and closing balances on the fair value|||||of plan||assets|||
|||||||||2022|2021|
|||||||||8'000|E'000|
|Fair value of plan assets at the start
Interest income|ofthe|period||||||14,524
243|13,749
230|
|Asset (loss)/gain
Contributions
by the employer
Benefits paid||||||||(2,362)
163
(608)|948
171
(574)|
|Fair value of plan assets at the end ofthe period||||||||11,960|14,524|
##
##
##
|nalysis|of plan|assets|||
|---|---|---|---|---|
||||Value of|Value of|
||||assets|assets|
||||31August|31August|
||||2022|2021|
||||r.'000|f'000|
|Equity
Bonds|(including|property)|2,762
917|2,644
1,022|
|Insured
Cash|pensions||7,939
342|10,300
558|
|Total assets|||11,960|14,524|
##
|ned benefit costs recognised
in the income statement|||
|---|---|---|
||2022|2021|
||E'000|E'000|
|Current service cost|81|101|
|Net interest cost|25|28|
|Total pension expense|106|129|
##
|ned benefits costs included
in other rec|ognised
gains|||
|---|---|---|---|
|||2022|2021|
|||E'000|E'000|
|Actuarial
(loss)/gain
on plan assets||(2,362)|948|
|Actuarial
gain on defined
benefit obligation
ofwhich due to experience||(297)|180|
|of which due to financial assumptions
Effects of benefit changes||4,455|(1,008)
(110)|
|Effect ofasset ceiling||(303)||
|Total gain included
in other recognised|gains|1,493|10|
##
##
##
##
|ssumptions|||||
|---|---|---|---|---|
||||2022|2021|
||||%per|%per|
||||annum|annum|
|Discount rate|||4.3|1.7|
|Inflation (RPI)
Inflation (CPI)
Salary growth|||3.9
3.1
3.4|3.6
2.8
3.1|
|Allowance
for revaluation|of deferred|pensions|||
|subject to CPI max 5%
subject to CPI max 2.5%|||3.1
2.5|2.8
2.5|
|Allowance
for pensions
in payment
subject to RPI max 5%
subject to RPI max 2.5%|||3.6
2.3|3.4
2.2|
|subject to RPI max 2.5%|||2.3|2.2|
|---|---|---|---|---|
|The mortality
assumptions|adopted
at 31 August 2022 imply the following||life expectancies:||
|Based on the assumptions,|on the balance sheet date the average|future|life expectancies
at age 65 are||
|summarised
below:|||||
|Life expectancy at age 65
Retiring today|years
Male
Female||2022
22.7
25.3|2021
22.6
25.2|
|Retiring
in 20 years|Male
Female||24.9
27.6|24.8
27.5|
##
##
##
||||Unrestricted|Funds||||
|---|---|---|---|---|---|---|---|
|||||||Restated||
||||Restated
Schools
8'000|Asks's
Income
r.'000|Restricted
Endowment
Funds
Funds
r!000
0'000||Total
2021
'000|
|Income and endowments||from:||||||
|Donations||||158|529||687|
|Charitable
activities:||||||||
|School fees
Other educational|income||46,689
2,427||246||46,689
2,673|
|Other trading
activities:
Trading
income|||1,331||||1,331|
|Other income:||||||||
|Coronavirus
job retention||scheme|||165||165|
|Investments:||||||||
|Investment
income|||78|49|||178|
||||50,525|207|945|46|51 723|
|Expenditure
on:||||||||
|Raising funds:
Loan interest|||609||||609|
|Fees in advance|discount||173||||173|
|Trading cost ofsubsidiaries|||1,523||||1,523|
|Charitable
activities:||||||||
|Schools|||42,578|830|1,070|1,735|46,213|
|FRS102 pension
net interest cost|scheme||28||||28|
||||44,911|830|1,070|1,735|48,546|
|Net gains on investments||||4|6|6,436|6,446|
|Net income/(expenditure)|||5,614|(619)|(119)|4,747|9,623|
|Transfers
between|funds||23,798|739|142|(24,679)||
|Other recognised|losses:|||||||
|Actuarial
gains on defined
benefit scheme|||10||||10|
|Net movement
in|funds||29,422|120|23|(19,932)|9,633|
|Reconciliation
of|Funds:|||||||
|Total funds brought|forward||(1,388)|89|279|103,840|102,820|
|Total funds carried forward|||28,034|209|302|83,908|112,453|
##
##
|FOR THE YEAR ENDED|31 AUGUST|2021|||||
|---|---|---|---|---|---|---|
|(a) Fund Movements|Balance|||Other|Restated|Restated
Balance|
||1Sephmber|||recognised|Net|31 August|
||2020|Income|Expenditure|gain/loss|transfers|2021|
||8'000|E000|8'000|E'000|8'000|8'000|
|General funds —Charity:|||||||
|Schools general
fund|||||||
|excluding
building
fund and
pension
reserve
Pension reserve|198
(1,587)|49,301
-|(43,251)
(137)|10|23,328
171|29,576
(1,543)|
|Aske Income Fund|(1,389)
89|49,301
207|(43,388)
(830)|10
4|23,499
739|28,033
209|
|Total unrestricted
funds—|||||||
|Charity|(1,300)|49,508|(44,218)|14|24,238|28,242|
|Non-charitable
trading
funds||1,224|(1,523)||299|1|
|Total unrestricted
funds—
Group|(1,299)|50,732|(45,741)|14|24,537|28,343|
|Restricted funds|||||||
|Schools restricted
funds
Simon Stuart Scholarship
Bursaries Appeal Fund|120
2
157|940|(1,067)
(3)||127
15|120
2
180|
|Total restricted
funds|279|945|(1,070)||142|302|
|Endowment
funds
Dr Margaret
Bent endowment
Simon Stuart endowment
Bursades
Appeal
endowment|5
77
1,576|4
2
40||13
263|(2)
(40)|9
90
1,839|
|Asks's permanent
endowment|102,182||(1,735)|6,160|(24,637)|81,970|
|Total endowment
funds|103,840|46|(1,735)|6,436|(24,679)|83,908|
|Total Funds|102,820|51,723|(48,546)|6,456||112,453|
##
##
|(b) Fund Transfers|||||||
|---|---|---|---|---|---|---|
|||||Restated||Restated|
||||Non-charitable|||Permanent|
||||Trading|Charitable||endow-|
||||funds|Unrestricted|Restricted|ment|
||||8'000|funds|funds|funds|
|||||f'000|8'000|8'000|
|New & replacement
school buildings
Private placement
loan received
Unapplied
total return for application
Transfers
to school bursary
funds
Loan repayments
Transfer of Pool investment
income||||(11,244)
35,000
904
(100)
(23)|100
42|11,244
(35,000)
(904)
23
(42)|
|Coach services paid by schools|||299|(299)|||
||||299|24,238|142|(24,679)|
||||Restated||Restated||
|---|---|---|---|---|---|---|
||||||Permanent||
||||Unrestricted|Restricted|endowment|Total|
||||funds|funds|funds|Funds|
||||6'000|6'000|6'000|f'000|
|Tangible fixed assets
Haberdashers'
Charities||Investment|6,342||84,758|91,100
34,366|
|Pools
Investment
Net current
Long term|Cash
assets/(liabilities)
liabilities||6,008
29,485
(13,592)|126
176|34,366
(216)
(35,000)|6,134
29,445
(48,592)|
||||28,243|302|83,908|112,453|
##
##
##
##
|TOTAL RESOURCES EXPENDED FOR|THE YEAR EN|DED 31 AUG|UST 2021||
|---|---|---|---|---|
|||Other|||
||Staff|direct|Deprec-|Total|
||Costs|costs|iation|2021|
||6'000|8'000|'000|6'000|
|Raising funds:
Loan interest and related fees||609||609|
|Fees in advance discount||173||173|
|Trading costs ofsubsidiary|46|1,477||1,523|
|||2,259||2,305|
|Charitable
expenditure:
Teaching costs
School welfare|21,107
166|2,444
1,979||23,551
2,145|
|School premises costs
Public relations
and marketing|1,140|6,706
312|1,735|9,581
312|
|Grants paid to Haberdashers'
Federation
Trust||508||508|
|Support costs
Governance
costs|5,362
11|3,362
75|1,306|10,030
86|
|FRS102 pension scheme net interest
costs||28||28|
||27,786|15,414|3,041|46,241|
|Total resources expended|27,832|17,673|3,041|48,546|