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2020-08-31-accounts

~pa e
Company Information
Governors' Report 4-10
Auditor's Report 11-13
Statement of Financial Activities 14
Balance Sheet 15
Cash Flow Statement 16
Notes to the FinancialStatements 17-24

0
THE		 YE AR ENDED 31 AU GUST 2020
Total
Nones Unrestricted Restricted Total 2019
Funds
8		 Fundsf ~202
6		 Restated
5
INCOME FROM:
Grants and Donations 296,662 23,366 320,029 9,022
Charitable activldes
—Operation		 ofthe school
School Fees 3,455,535 -1,960 3,453,575 3,897,600
Extra Support Fees 26,201 26,201 30,687
Other trading acUvities
School Shop commission 3,178 3,178 4,273
Lettings 12,360 12,360 12,150
Investments 1,374 1,374 1,721
Other 33,061 33,061 71,432
Total Income 3,828,371 21,406 3,849,777 4,026,886
EXPENDITURE ON:
Raising funds 33,273 33,273 24,812
Charitable activities
Costs ofoperation ofschool 3,741,429 8,315 3,749,744 3,910,817
Total Expenditure 3,774,703 8,315 3,783,018 3,935,629
Net Income/(Expenditure) 53,668 13,091 66,759 91,257
Reconciliation of Funds:
Total funds at 1 September 2019 3,598,305 44,800 3,643,105 3,551,848
Total funds at 31August 2020 3,651,973 57,891 3,709,864 3,643,105
COMPA UMBER 1134697
TANGIBLE FIXEDASSETS
CURRENT ASSETS
Stocks
Debtors
Cash at bank snd in hand

Note Note
2020f ~201f
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided
by (used in) operating
activities a. 171,174 398,057
CASH FLOWS FROM INVESTING ACTIVITIES:
Interest from investments 1,374 1,721
Purchase of property,
plant and		 equipment -46,265 -38,141
Proceeds from the sale of property,
plant		 and equipment 2,000 1,830
Net cash provided
by (used in) investing		 activities -42,891 -34,590
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment
ofbank loans		 -55,365 -95,776
Cash inflows from new borrowing 0 0
Interest pakl -50,474 -59,987
Net cash provided
by (used in) financing		 activities -105,839 -155,763
CHANGE
IN CASH AND CASH EQUIVALENTS
IN THE REPORTING PERIOD 22,445 207,706
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF
THE REPORTING PERIOD 379,922 172,216
CASH AND CASH EQUIVALENTS AT THE END OF
THE REPORTING PERIOD ~402 368 379,922
a. Reconciliation
of net income/(expenditure)		 with
net cash flow from operating activikes 2002) 2019
6 6
Net income/(expenditure)
for the reporting		 period (as per the 66,759 91,257
statement
offinancial
activities)
Adjustments
for:
Depredation
charges		 189,253 212,394
Interest from investments -1,374 -1,721
Interest paid 50,474 59,987
(Progt)/loss
on disposal offixed assets		 -1,493 -1,663
(Increase)/decrease
in stocks		 2,541 1,432
(Increase)/decrease
in debtors		 -25,602 60,572
Increase/(decrease)
in creditors		 -109,384 -24,200
Net cash provided
by (used In) operating		 activities 171,174 398,057

for this purpose
are as foll		 ow;
Land and buildings
existing		 at 31 August 1992 Nil
Improvements
to freehold		 property since 1992 -10% straight line
(to 31 August 1999)
- 24/ straight line
(from 1 September 1999)
Administration
office equipment		 -33'/ straight line (SL)
Educational
equipment		 -25% straight line (SL)
Motor vehicles -25'/ reducing balance (RB)
Furniture
and littings		 - 10% reducing balance (RB)
Estate equipment -20'/. reducing balance (RB)
Swimming
pool equipment		 - 20% reducing balance (RB)

(I) Pension costs
Contributions
in respect of		 the Teachers' Superannuation Scheme and the company's
defined		 contribution schemes
are charged
to		 the Income and Expenditure account in the year for which they are payable to the schemes.
The company's contribution to these schemes for the year was F52,448 (20195301,906).
20(rg 2019
2. GRANTS AND DONATIONS 6
Government
Grants - Coronavirus		 Job Retention Scheme 296,562 0
Donations
- Unrestricted		 100 9,022
Restricted 23,366 0
320,029 9,022
~202 ZQ19
3. OTHER INCOME 6
Registration
fees		 5,879 5,525
School Fees Insurance Commission 0 3
Insurance
Claims		 2,400 0
Sundry income 13,399 26,528
Rent- HM 0 4,792
Holiday Courses 5,494 23,104
Surplus(loss)
on		 recoverable costs 5,889 11,480
33,061 71,432
2020
4. EXPENDITURE 6
Direct charitable expenditure includes:
Depreciation 189,253 212,393
Auditors'
remuneration
for audit 6,000 6,000
for other services 1,320 800

R THE Y
DED		 31 A UGU ST
2019
5. STAFF COSTS kQ2Qf Restated
Wages and salaries 2,190,437 2,296,268
Redundancy
and termination		 settlements 37,922 45,000
Social security costs 174,662 188,709
Pension contributions 356,715 311,272
Other staff costs 16,714
2,776,449 2,841,249
The average
number ofemployees		 in the year was: No. No.
Teaching
Full time		 35 32
Teaching
Part time		 33 31
Welfare 23 23
Premises 6 6
Administration 23 24
Total 120 116
The number ofemployees whose emoluments
exceeded 660,000were:
660,000 —670,000 ~Ne
570,000 —680,000 1
f. f
Remuneration
to Governors		 Nil Nil
Expenses reimbursed to Governors ~53 ~E
Governors
travel expenses		 and consultancy services - 3 Governors (2019:3)
The executive management of the school is delegated
by the Governors		 to the Headmaster with finandal management
and
adrnlnlsuation
in the hands		 ofthe Bursar who are considered to be the key management personnel ofthe school. The total
paid to these employees during the year (excluding pension contributions) was 6143,803 (2019:6150,416).
The total of redundancy payments charged for the year to 31 August 2020 was 637,922, which was outstanding at the year
The School's policy for any necessary redundancy or termination payments is settled
in accordance		 with the appropriate
le
6.a. ANALYSIS OF EXPENDITURE 2020 Total
Staff
gocss
5		 OIIOe
f		 ~De rec
'o		 Total
2020
6		 2019
~tted
F
Raising Funds
Marketing
& publicity		 33,273 33,273 24,812
33,273 33,273 24,812
Charitable
activity- operation		 ofthe school
Teaching costs
Welfare		 2,055,525
225,652		 174,610
101,133		 61,976
7,918		 2,292,110
334,703		 2,409,645
377,952
Premises 113,912 249,766 119,359 483,038 515,509
Chantable
support costs:
Administration
ofthe		 School 381,360 200,740 582,100 540,924
Interest payable
Governance
costs (note		 5.a.) 50,474
7,320		 50,474
7,320		 59,987
6,800
Costs ofoperation
ofthe		 school 2,776,449 784,042 189,253 3,749,744 3,910,817
Total expenditure 2,776,449 817,316 189,253 3,783,018 3,935,629
9~elf Total
costs
6		 Other
5		 ~De reciation
5		 2019f
Raising Funds
Marketing & pubffdty 24,812 24,812
24,812 24,812
Charitable
activity-		 operation of the school
Teaching costs 2,116,121 210,960 82,565 2,409,645
Welfare 236,940 134,145 6,867 377,952
Premises 115,839 277,422 122,248 515,509
Charitable
support		 costs:
Administration of the School 372,349 167,862 713 540,924
Interest payable 59,987 59,987
Governance costs (note 5.a.) 6,800 6,800
Costs ofoperation of the school 2,841,249 857,175 212,393 3,910,817
Total expenditure 2,841,249 881,987 212,393 3,935,629
6.c.GOVERNANCE COSTS
2020 2019
Staff costs
Audffors' remuneration
-for audit 6,000 6,000
-for other 1,320 800
7,320 6,800
7. TANGIBLE FIXEDASSETS Freehold
Property Administration
and Office
T~OT II09IELeJILeeILs ~Eui ment
f 5
COST
01.09.19 9,377,651 7,290,635 17,549
Additions 46,265 5,566
Disposals -4,727
31.08.20 9,419,189 7,296,201 17,549
DEPRECIATION
01.09.19 3,521,045 1,760,961 17,549
Provided
in		 year 189,253 119,359
Disposals -4,219
31.08.20 3,706,079 1,880,320 17,549
NET BOOK VALUE
31.08.20 5,713,110 5,415,881
31.08.19 5,856,606 5,529,674

7. TANGIBLE FIXEDASS 7. TANGIBLE FIXEDASS ETS (Cont) Furniture,
Fittings and Swimming
Motor Educational Estate Pool
Vehides EqEui
rment		 ~E' e t ErEui e t
6
COST
01.09.19 68,484 1,853,381 94,355 53,247
Additions 31,285 9,414
Disposals -4,727
31.08.20 68,484 1,884,666 99,042 53,247
DEPRECIATION
01.09.19 64,881 1,557,121 72,616 47,916
Provided in year 901 10%RB 23,438 5,950 1,067
25% SL 38,538
Disposals 4,219
31.08.20 65,782 1,619,097 74,347 48,983
NET BOOK VALUE
31.08.20 2,702 265,569 24,695 4,264
31.08.19 3,603 296,260 21,739 5,331
~2 2019
8. STOCKS 8 6
Catering stocks 1,600 2,400
Other stocks 5,486 7,227
7,086 9,627
9. DEBTORS 2020f ~2 f
School debtors - net ofreserve 69,604 115,008
Other debtors 64,062 11,743
Prepayments 80,830 62,143
214,496 188,894
10.CREDITORS: due within one year 2020
f		 2019f
Bank loan (note 11) 94,478 97,313
Trade creditors 46,211 66,203
Fees and deposits received in advance 325,065 378,248
Other taxes and somal secunty 38,182 43,433
Accruals and deferred
income		 127,653 131,558
631,589 716,755
The bank has a fixed and floating charges over the assets of the school, dated 15 January, 1992,14June 2016
and 21 April 2017.
~220 2019
11.CREDITORS, due after more than one year 6
Bankloan 1,827,961 1,880,491
Fees and deposits received in advance
-amount
due within five years		 167,646 194,698
1,995,607 2,075,189

Unrestncted Restricted Total
EgfdLsf Funds
6		 ~1
6
INCOME FROM.
Donations
and legacies		 1,022 8,000 9,022
Charitable
activities - Operation		 ofthe school
School Fees 3,897,600 3,897,600
Other trading activities
School Shop commission 4,273 4,273
Leffings 12,150 12,150
Investments 1,721 1,721
Other 71,432 71,432
Total Income 3,988,199 8,000 3,996,199
EXPENDITURE ON:
Raising funds 24,812 24,812
Charllable
activities
Costs ofoperation ofschool 3,878,930 1,200 3,880,130
Total Expenditure 3,903,742 1,200 3,904,942
Net Income/(Expenditure) 84,457 6,800 91,257
Reconciliation of Funds:
Total funds at 1 September 2018 3,513,848 38,000 3,551,848
Total funds at 31 August 2019 3,598,305 44,800 3,643,105