## # |Contents|||Page| |---|---|---|---| |Governors,
Officers and Advisers|||| |Annual
Report ofthe Governors|||| |Strategic Report|||| |Statement of Accounting|and Reporting|Responsibilities|10| |Independent
Auditor's
Report|||| |Statement
of Financial Activities|||15| |Balance Sheet|||16| |Cash Flow Statement|||17| |Notes to the Financial
Statements|||18| ## |Mr TCare (Chairman)|Finance Sub-Committee
Strategy Sub-Committee| |---|---| ||Pro ert
Sub-Committee| |Mr M R Gill *|Finance Sub-Committee| ||Strate
Sub-Committee| |Mrs L Graham
*|Pu il Wellbein| |Mrs C Kin|Finance Sub-Committee| |Dr N Lloyd-Jones|Finance Sub-Committee
Health and Safet
Sub-Committee| |Mrs 5 Melbourne|Education
Sub-Committee| |Mr P Parkinson|Marketin
Sub-Committee| |Mr J 5 kes*|Pro ert
Sub-Committee| |*
Parent of pupil at the School|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted
Restricted|Unrestricted
Restricted|Endowed||2022| |---|---|---|---|---|---|---|---|---| |||Notes||Funds|Funds|Funds|Total|Total| |||||E|f.|E|E|| |Income from:||||||||| |Charitable
activities
School fees receivable
Catering income
Government
funding
Income from School trips
Rental income from lettings
Investment
income
Other income|||2|4,517,647
283,112
102,771
385,590
0
15,775
50,519|||4,517,647
283,112
102,771
385,590
0
15,775
50,519|4,294,565
271,605
105,383
68,091
5,725
119
10,723| |Voluntary
sources
Grants and donations||||4,142|||4,142|10,119| |Totalincome||||5,359,556|||5,359,556|4,766,330| |Expenditure
on:
Financing costs|||4|(86,777)|||(86,777)|(31,284)| |Charitable
activities
Education
and grant
making|||4|5,348,790|20)||5,348,810|(4,627,131)| |Total expenditure||||(5,435,567)|20||5,435,587|4,658,415| |Net income/(expenditure)
movement
in funds before|and net
transfers|||(76,011)|(20)||(76,031)|107,915| |Transfers
between
funds|||17|28,046|28,046|||| |Net movement
in funds||||(47,965|28,066||76,031|107,915| |Fund balances
brought
forward
at 1 September
2022||||5,707,011|236,334||5,943,345|5,835,430| |Fund balances carried forward
at 31 August 2023||||5,659,046|208,268||5,867,314|5,943,345| |The notes on pages 18 to|31|form part ofthese financial
statements||||||| ## ## ||||Note||2023||2022| |---|---|---|---|---|---|---|---| |||||E||E|| |FIXED ASSETS|||||||| |Tangible assets
Investments|||||7,006,434
2 113||7,149,752
2 113| |CURRENT ASSETS|||||7,008,547||7,151,865| |Stock
Debtors|||9|644
174&572|||2,320
197,687| |Cash and deposits||||1,322|852||1,479,079| |||||1,498,068|||1,679,086| |CURRENT LIABILITIES|||||||| |Creditors
payable|within|one|||||| |year|||10|1,100,636|||1,114,018| |NET CURRENT ASSETS|||||||| |/(LIABILITIES)||||||397,432|565,068| |TOTAL ASSETS LESS CURRENT|||||||| |LIABILITIES|||||||| |LONG-TERM LIABILITIES|||||7,405,979||7,716,933| |Creditors
payable|after one||||||| |year|||||~&,538,665||~&,773,588| |NET ASSETS|||||5,867,314||5,943,345| |REPRESENTED BY:|||||||| |RESTRICTED INCOME FUNDS|||16|||208,268|236,334| |UNRESTRICTED FUNDS|||||||| |General
Reserve
Designated
Funds|||16
16||5,584,524
74,522||5,632,806
74,205| ||||||5,867,314||5,943,345| ||Note|Note|2023||2022|| |---|---|---|---|---|---|---| |Net cash outflow from operations||||||| |Net cash provided
by / (used in)
operating
activities|||207,767||384,751|| |Cash flows from investing
activities:
Purchase of Tangible fixed assets|||(42,422)|(151,419)||| |Investment
income and bank interest
received|||127||119|| |Net cash (used in) / provided
by
investing
activities
Cash flows from financing
activities:
Interest
paid on borrowings
Hire Purchase
Capital repayment
Loan Capital repayments||(86,777)
(9,751)
~225,171
(42,295)
(31,284)
(9,931)
~225, 171
(151,300)||||| |Net cash provided
by financing
activities|||321,699||266,386|| ||||(363,994)||(417,686)|| |Change
in cash and cash equivalents
the reporting
period||in|156,227|||32,935| |Cash and cash equivalents
at the
beginning
of period|||1,479,079||1,512,014|| |Cash and cash equivalents
at the end
the reporting
period||of|1,322,852||1,479,079|| |(i)
Reconciliation
of net income|to net||cash flow from
2023|operating|activities
2022|| ||||E|E||| |Net incoming
resources||||(76,031)||107,915| |Elimination
of non-operating
cash flows:||||||| |Depreciation
charges|||185,739||216,535|| |Investment
income|||(127)||(119)|| |Loan interest|||86,777||31,284|| |(Increase)/decrease
in Stock and Debtors|||24,791||(106,862)|| |Increase/(decrease)
in Creditors|||(13,382)||135,998|| |||||283,798||276,836| |Net cash inflow from operations||||207,767||384,751| ## ## ## ## ## ## ## ## ## ## ## |Straight-line
basis:|Straight-line
basis:|Straight-line
basis:||| |---|---|---|---|---| |Freehold|buildings|||2X| |Freehold|building|improvements||10X| |Leasehold|Improvements|||20X| |Astro- turf and playground|||surfaces|10X| |Motor vehicles||||20X| |Fixtures,|fittings|and equipment||20X| |Computers|(from|Sept 2021)||33X| |Reducing|balance|basis:||| |Computers|(prior|to Aug|2021)|33X| |Classroom|digital|boards||15X| ## ## ## ## ## ## ## ## ## ## ## ## |||||2023|2022| |---|---|---|---|---|---| |||||E|| |Fees|receivable|consist|of:||| |Gross|School fees|||5,502,795|5,173,601| |Less:|Total scholarships
Other awards||and bursaries|(916,330)
( 68,818)|(810,595)
68,441| |||||4 517,647|4,294,565| ## ## |GRANTS AND DONATIO|NS|RECEIVABLE|||| |---|---|---|---|---|---| |||||2023|2022| |Grants from:||||E|| |Government
Coronavirus||Job Retention|scheme||441| |Early Years grant for|equipment||||2,928| |Donations from:|||||| |Employee
donations|||||6,000| |Rugby Ball sponsorship|||||750| |Parental
donations
Parents'
Association|funding|||2,900
1,242|| |||||4,142|| ## ## |.
ANALYSIS OF EX|PENDITURE|PENDITURE|||| |---|---|---|---|---|---| |(a) Total expenditure|year ended 31 August 2023
Staff costs Depreciation||Other|Total|Total| ||(note 6)
E|(note 7)
E|E|2023
E|2022
f| |Costs of generating
Financing costs -loan|funds:
interest||86,777|86,777|31,284| |Charitable
expenditure:|||E.|E|f| |Education and grant|||||| |making
Teaching
Welfare
Premises|2,819,505
14,511
218,868|-
-
185,739|647,610
365,718
428,056|3,467,115
380,229
832,663|2,948,656
318,357
736,305| |Support costs and
governance|360,909||307,894|668,803|623,813| |Total charitable|3,413,793|185,739|1,749,278|5,348,810|4,627,131| |expenditure|||||| |Total expended|3,413,793|185,739|1,836,055|5,435,587|4,658,415| |Prior Year comparison:|Prior Year comparison:|Total expenditure|to 31August 2022|to 31August 2022||| |---|---|---|---|---|---|---| |||Staff costs Depreciation||Other|Total|Total| |||(note 6)|(note 7)
f||2022|2021| |Costs ofgenerating
Financing
costs -loan|funds:
interest|||31,284|31 284|22,343| |Charitable
expenditure||||||| |Education and grant||||||| |making
Teaching
Welfare
Premises||2,729,680
11,564
157,974|-
-
216,535|218,976
306,793
361,796|2,948,656 2, 777,295
318,357
278,947
736,305
708,335|| |Support costs and
governance||339,190||284,623|623,813|466,516| |Total charitable||3,238,408|216,535|1,1172,188|4,627,131 4,231,093|| |expenditure||||||| |Total expended||3,238,408|216,535|1,203,472|4,658,415 4,253,436|| ||||23|||| ## |||||||2023|2022| |---|---|---|---|---|---|---|---| |(b) Governance
included
in||support costs:||||E|| |Remuneration
paid to auditor for audit services
Other governance
costs|||||15,894||12,059| |Total governance
costs|||||15,894||12,059| |5.
INTEREST PAYABLE AND||SIMILAR CHARGES|||||| |||||||2023|2022| |||||||E|| |Bank Loan interest||||||86,777|31,284| |6.
STAFF COSTS AND RELATED PARTY TRANSACTIONS|||||||| |||||||2023|2022| |The aggregate
payroll costs|for the year were as follows:|||||E|| |Wages and salaries
Social security costs
Other pension costs
Private
Health
Insurance|||||2,676,666
258,500
474,067
4 560||2,522,573
250,965
460,496
4,374| |Total Staff Costs|||||3,413,793||3,238,408| |None of the directors (or any||persons connected|with them)||received|any remuneration|| |from Newcastle
School for Boys during the year.|||||||| |Aggregate
employee-benefits||of key management||personnel|511,759||490,125| |||||||2023|2022| |Number
of higher
paid employees
in bands of:|||||||| |E60,001 - E70,000|||||||| |E70,001 - E80,000|||||||| |E90,001 - E100,000|||||||| |The number
with retirement||benefits accruing|||||| |In Defined Contribution|schemes was:|||||1|1| |of which the contributions||amounted
to:|||E3,535||E3,367| |In Defined Benefit schemes was:||||||4|2| ## |The average
number of|the School's employees
during the year calculated
on a full-time|the School's employees
during the year calculated
on a full-time|the School's employees
during the year calculated
on a full-time|the School's employees
during the year calculated
on a full-time|the School's employees
during the year calculated
on a full-time|the School's employees
during the year calculated
on a full-time|the School's employees
during the year calculated
on a full-time|the School's employees
during the year calculated
on a full-time| |---|---|---|---|---|---|---|---|---| |equivalent
basis, was 77.
(2022: 72). The average
number of employees
employed|||||during the year was:
2023|||2022| |Teaching
Welfare
Premises
Support||||||64
2
10
14||64
2
9
12| |||||||90||87| |Transactions
with Related Parties:||||||E||| |Scholarships
awarded
to children
of directors:
Governor's
Liability
Insurance
cost borne by the company:
Training
and expenses borne by the company
(8 trustees):||||||11,218
891
0||10,684
843
0| |7.
TANGIBLE FIXED ASSETS||||||||| |||Leasehold||Fixtures,||||| ||Freehold|Improve-
ments||Fittings It
Equipment||Computers||Total| ||E||E||E|E||E| |Cost:||||||||| |At 1 Sept 2022|9,276,496||37,165||527,537|492,845|10,334,043|| |Additions
Disposals|10,800
(1,764)||||14,859|18,527||44,186
(1,764)| |At 31 Aug 2023|9,285, 532||37,165||542,396|511,372|10,376,465|| |Depreciation:||||||||| |At 1 Sept 2022|2,289,327||37,165||499,793|358,006||3,184,291| |On Disposals
Charge for Year|148,662||||6,271|30,806||185,739| |At 31 Aug 2023|2,437,989||37,165||506,064|388,812||3,370,030| |Net Book Value:||||||||| |At 31 Aug 2023|6,847,543||||36,332|122,560||7,006,434| |At 1 Sept 2022|6,987,169||||27,744|134,839||7,149,752| |Tangible
fixed assets|with a net book value of|||E4,565,861 have been pledged||||as security| ## ## ## ## |Amounts
falling due within
one year:
Fee Debtors
Prepayments
and Accrued
Income
Sundry
Debtors||2023
E
52,201
95,588
26 783|2022f
26,036
147,003
24,648| |---|---|---|---| |||174,572|197,687| |10.
CREDITORS: amounts
falhng due within one year|||| |||2023|2022| |||E|| |Loan
Trade Creditors
Fee payments
received
in Advance
Other Creditors
Taxation and Social Security
Accruals and Deferred
income
Hire Purchase||225,171
184,602
392,394
78,298
63,359
147,060
9,752|225,171
183,190
349,398
58,314
58,812
229,382
9,751| |Deferred
income
totals f53,925 (2022: f128,008) and relates|1|,100,636
to amounts|1,114,018
received
in| |advance
from parents for school trips.|||| ## |11.
CREDITORS: amounts
faging du|e after mor|e than one|year|| |---|---|---|---|---| ||||2023|2022| ||||E|| |Hire Purchase
Loan|||1,538,665|9,752
1,763,836| ||||1,538,665|1,773,588| |Bank Loan - repaid by equal monthly
July 2011|instalments|over a 20-year period which||started
in| |Amounts
falling due:||||| |In one year or less or on demand
Between one and two years|||225, 171
225, 171|225, 171
225, 171| |Between two and five years|||675,512|675,512| |In five years or more|||637,982|863,153| |Interest
is charged at 0.86% plus Base Rate and||is secured|1,763,836
by the following|1,989,007
charges:| ## ## ## ## ## |16.
ANALYSIS OF|NET ASSETS||BETWEEN FUNDS|BETWEEN FUNDS||||| |---|---|---|---|---|---|---|---|---| |||||Net Current||||| ||Fixed||||Assets/|Long Term||| |As at 31 August 2023|Assets
E||Investments
E|(Liabilities)
E||Liabilities
E||Total
E| |General Funds:|6,990,678||2 113||130,398|(1,538,665)||5,584, 524| |Designated
Funds:|1,868||||72,654|||74,522| |Restricted
Funds:|13,888||||194,380|||208,268| ||7,006,434||2, 113||397,432|(1,538,665||5,867,314| |||||Net Current||||| ||Fixed||||Assets/|Long Term||| |As at 31August 2022|Assets||Investments
f|(Liabilities)
f||Liabilities||Total| |General
Funds:|7,133,996||2,113||270,285||(1,773,588)|5,632,806| |Designated
Funds:|1,868||||72,337|||74,205| |Restricted Funds:|13,888||||222,446|||236,334| ||7,149,752||2,113||565,068||1,773,588|5,943,345| |17.
SUMMARY OF|MOVEMENTS|ON MAJOR FUNDS||||||| |Current Year|At 1|||||||At 31| ||September
2022||Incoming
Resources
Resources
Expended
Reval'n||||Transfers|August
2023| ||E||E||E|E|E|E| |General Funds:
General
Fund
Music Prize Fund|5,632,556
250||5,354,304
(5,430,632)||||28,046|5,584,274
250| |Designated
Funds:
Fixed Asset Fund|1,868|||||||1,868| |Capital
Fund from
trips
Other Fund|71,614
723||3,552
1,700||(4,936)|||70,230
2,423| |Total Unrestricted
Funds:|5,707,011||5,359,556|5,435,568|||28,046|5,659,045| ||||29|||||| |Restricted
Funds:||||||| |---|---|---|---|---|---|---| |Fundraising-||||||| |Assistance
with Fees|222,256||||(28,046)|194,211| |Fundraising
- Capital||||||| |Projects
Fundraising-|13,888|||||13,888| |Assistance
with Fees||||||| |or Capital Projects|90|||||90| |Other
Total Restricted|100||20|||80| |Fund:|236,334||20||(28,046)|208,269| |Total Funds:|5,943,345|5 359,566|5,435,588|||5 867,314| |Prior Year
comparison|At 1
September
2021|incoming
Resources
f|Resources
Expended|Reval'n|Transfers
f|At 31
August
2022| |General Funds:||||||| |General Fund
Revaluation
Fund
Music Prize Fund|3,098,599
2,442,973
250|4,694,716|(4,658,395)||54,663|3,189,583
2,442,973
250| |Designated
Funds:||||||| |Fixed Asset Fund
Capital Fund from
trips|15,318|71,614|||(13,450)|1,868
71,614| |Other Fund|723|||||723| |Total Unrestricted||||||| |Funds:|5,557,863|4,766,330|4,658,395||41,213|5,707,011| |Restricted Funds:||||||| |Fundraising-||||||| |Assistance
with Fees|263,469||||(41,213)|222,256| |Fundraising-||||||| |Capital Projects
Fundraisi ng-|13,888|||||13,888| |Assistance
with Fees||||||| |or Capital Projects|90|||||90| |Other|120||20|||100| |Total Restricted||||||| |Fund:|277,567||20||(41,213|236,334| |Total Funds:|5,835,430|4,766,330|4,658,415)|||5,943,345| |||30||||| ## ## ##