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2021-07-31-accounts

Governors Mrs M Neilson
Mr JAAllenFCA
Mr T Leah BA(Hons) PGCE NPQH (Vice Chair)
Mr M Dunkley LLB(Hone) TEP (Chair)
Mrs SSiesage BA (Hone) PGCE MBA NPQH
Mrs J E Carroll BA(Hone) PG Cert (Appointed 10September 2021)
Ms C Salmon BA(Hone) (Appointed 11 October 2021)
Secretary and Bursar E Mackay
Headmaster Mr A Whelpdale BAPGCE NPQH
Charity number 503982
Company number 01204450
Registered office 454 London Road
Leicester
LE22PP
Auditor Somerbys
Limited
30 Nelson Street
Leicester
LE1 7BA
Bankers HSBC Pic
2-6 Gallowtree Gate
Leicester
LE1 1DA
Allied
Irish Bank		 (GB)
Byron House
Maid Marian Way
Nottingham
NG16HS
Handelsbanken
Provincial
House
37 New Walk
Leicester
LE1 6TU
Solicitors Shakespeare Martineau LLP
One Colton Square
Leicester
LE1 1QH

Page
Governors'
report		 1-7
Statement ofGovernors'
responsibilities
Independent
auditor's		 report 9-11
Statement offinancial activities 12-13
Balance sheet 14
Statement ofcash flows 15
Notes to the financial statements 16-28

Current financial year
Unrestricted Restricted Total Total
funds funds
2021 2021 2021 2020
Notes 6 6 6 6
Income and endowments f
m.
Donations and legacies 3 2,001 12,676 14,677 42,072
Income from charitable
activities		 4 3,524,625 3,524,625 3,653,607
Investments 5 122 122 2,475
Other income 6 78,358 78,358 130,596
Total income 3,605,106 12,676 3,617,782 3,828,750
EzgalLditurr
on.
Expenditure
on charitable
activities		 7 3,491,957 12,676 3,504,633 3,795,316
Finance costs 41,432 41,432 64,917
Total resources expended 3,533,389 12,676 3,546,065 3,860,233
Net income/(expenditure) for the year/
Net incoming/(outgoing) resources 71,717 71,717 (31,483)
Other recognised
gains and losses
Revaluation
oftangible
fixed assets		 (350,242) (350,242)
Net movement
in funds		 (278,525) (278,525) (31,483)
Fund balances at 1August 2020 4,491,200 4,491,200 4,522,683
Fund balances at 31 July 2021 4,212,675 4,212,675 4,491,200

Prior financial year
Unrestricted Restricted Total
funds funds
Notes 2020f 2020
8		 2020
6
Income
n
en		 owm n fr
Donations
and legacies		 41,909 163 42,072
Income from charitable activities 3,653,607 3,653,607
Investments 2,475 2,475
Other income 130,596 130,596
Total income 3,828,587 163 3,828,750
~E
"diit
Expenditure
on		 charitable
activities		 7 3,795,153 163 3,795,316
Finance costs 64,917 64,917
Total resources expended 3,860,070 163 3,860,233
Net incoming/(outgoing) resources (31,483) (31,483)
Other recognised
gains and losses
Net movement in funds (31,483) (31,483)
Fund balances at 1 August 2019 4,522,683 4,522,683
Fund balances at 31 July 2020 4,491,200 4,491,200

2021 2020
Notes K E
Fixed assets
Tangible assets 12 4,967,632 5,336,304
Current assets
Debtors 275,748 301,903
Cash at bank and in hand 929,767 894,307
1,205,515 1,196,210
Creditors: amounts falling due within 15
one year (364,994) (346,176)
Net current assets 840,521 850,034
Total assets less current liabilities 5,808,153 6,186,338
Creditors: amounts falling due after 16
more than one year (1,595,478) (1,695,138)
Net assets 4,212,675 4,491,200
Income funds
Unrestricted
funds		 4,212,675 4,491,200
4,212,675 4,491,200

2021 2020
Notes F E
Cash flows from operating activities
Cash generated
from operations		 22 154,129 24,126
Investing
activities
Purchase oftangible
fixed		 assets (40,196) (18,025)
Interest received 122 2,475
Net cash used in investing activities (40,074) (15,550)
Financing
activities
Repayment
ofbank loans		 (78,595) (83,218)
Net cash used in financing activities (78,595) (83,218)
Net increase/(decrease) in cash and cash
equivalents 35,460 (74,642)
Cash and cash equivalents at beginning ofyear 894,307 968,949
Cash and cash equivalents at end of year 929,767 894,307

Unrestricted Restricted Total Total
funds
6		 funds
5		 2021
6		 2020f
Miscellaneous donations 12,676 12,676 163
Donated deposits from leaving pupils 1,750 1,750 1,750
Giff Aid 251 251
Donation from alumnae 40,159
2,001 12,676 14,677 42,072
Income from charitable activities
Schoolfees Less: total School tripe/ Total Total
bursarles, meals and 2021 2020
srsnts and other income
allowances
2
Income for the year 3,831,987 (378,661) 71,299 3,524,625 3,653,607

Unrestricted Unrestricted
funds funds
2021 2020
f f
Bank interest received 122 2,475
Other income
Unrestricted Unrestricted
funds funds
2021 2020
f
Job Retention Scheme Grant 78,358 130,596

Teaching Premises Welfare Support Total Total
costs of 2021 2020
schooling
6
Staff costs 2,370,054 132,941 69,911 331,650 2,904,556 3,010,804
Depreciation 58,626 58,626 58,913
Other costs 119,246 195,688 26,047 152,974 493,955 704,477
2,489,300 387,255 95,958 484,624 3,457,137 3,774,194
Governance costs 47,496 47,496 21,122
2,489,300 387,255 95,958 532,120 3,504,633 3,795,316

The average number ofem ployees during the year was :
2021 2020
Teaching 43 43
Non-teaching 50 51
93 94
Employment costs 2021
f		 2020
f
Wages and salaries 2,289,651 2,386,316
Social security costs 214,387 219,850
Other pension costs 400,518 404,638
2,904,556 3,010,804
The number of employees whose annual remuneration (excluding pension
contributions) was 660,000 or more were:
2021 2020
Number Number
Between f60,000 and f70,000 1 1
Between 690,000 and 6100,000 1 1

Tangible fixed assets
Land and Modular Fixtures lentor vehicles Total
buildings building fittings a
equipmentf 6
Cost or valuation
At 1August 2020 4,850,000 380,698 1,735,038 30,831 6,996,567
Additions 40,196 40,196
Disposals (3,930) (3,930)
Revaluation (350,242) (350,242)
Transfer 350,242 (350,242)
At 31 July 2021 4,850,000 30,456 1,771,304 30,831 6,682,591
Depreciation
At 1August 2020 15,228 1,614,204 30,831 1,660,263
Depreciation
charged		 in the year 15,228 43,398 58,626
Eliminated in respect ofdisposals (3,930) (3,930)
At 31July 2021 30,456 1,653,672 30,831 1,714,959
Carrying amount
At 31 July 2021 4,850,000 117,632 4,967,632
At 31 July 2020 4,850,000 365,470 120,834 5,336,304

14 Debtors
2021 2020
Amounts
falling due		 within one year: 5
Trade debtors 194,314 206,858
Prepayments and accrued income 81,434 95,045
275,748 301,903
15 Creditors: amounts falling due within one year
2021 2020
8
Loans and overdrafts 96,611 78,596
Taxation and social security 51,104 55,120
Fees received in advance 15,616 25,003
Trade creditors 33,939 9,392
Other creditors 97,369 99,009
Accruals and deferred income 70,355 79,056
364,994 346,176

16 Creditors: amounts falling due after more than one year
2021 2020
6 6
Bank loans 1,518,228 1,614,838
Repayable deposits 77,250 80,300
1,595,478 1,695,138
Loan maturity
analysis
In more than one year but not more than two years 98,870 96,611
In more than two years but not more than five years 1,053,765 303,744
In more than five years 365,593 1,214,483
1,518,228 1,614,838

Restrict ed funds
Balance at 1 Incoming Resources Balance at 31
August resources expended July 2021
2020
Donation towards sixth form scholarship 12,526 (12,526)
Donation towards bursary fund 150 (150)
Analysis ofnet assets between funds
Unrestricted Restricted Total
6 6 6
Fund balances at 31 July 2021 are represented by:
Tangible assets 4,967,632 4,967,632
Current assets 840,521 840,521
Long term liabilities (1,595,478) (1,595,478)
4,212,675 4,212,675

2021 2020
f f
Within one year 15,570 21,464
Between two and five years 13,950 23,004
29,520 44,468
21 Related party transactions
There were no disclosable
related		 party transactions during the year (2020- none).
22 Cash generated
from		 operations 2021f 2020
f
Deficit for the year 71,717 (31,483)
Adjustments
for:
Investment
income recognised		 in statement offinancial activities (122) (2,475)
Depreciation
and impairment		 oftangible fixed assets 58,626 58,913
Movements
in working		 capital:
Decrease
in debtors		 26,155 40,397
Decrease
in creditors		 (2,247) (41,226)
Cash generated
from		 operations 154,129 24,126
23 Analysis ofchanges in net (debt)/funds
At 1 August 2020
f		 Cash flows
f		 At 31July 2021
f
Cash at bank and
in hand		 894,307 35,460 929,767
Loans falling due within one year (78,596) (18,015) (96,611)
Loans falling due after more than one year (1,614,838) 96,610 (1,518,228)
(799,127) 114,055 (685,072)

31July 2021 31 July 2020 31July 2019
5
Present value of provision 29,211 32,232 34,077
RECONCILIATION OF OPENING AND CLOSING PROVISIONS
31 July
6		 2021 31July 2020
f
Provision at start ofperiod 32,232 34,077
Unwinding
ofthe discount factor		 (interest expense) 257 404
Deficit contribution paid (3,019) (2,879)
Remeasurements - impact ofany change in assumptions (259) 630
Remeasurements -amendments to the contribution schedule
Provision at end ofperiod 29,211 32,232
INCOMEAND
EXPENDITURE IMPACT
31 July 2021 31July 2020
9 5
Interest expense 257 404
Remeasurements —impact ofany change in assumptions (259) 630
Costs recognised in income and expenditure account 20,104 19,809

DEF ICIT CONTRIBUTIONS
SCHEDUL		 E
Year ending 31 July 2021 31 July 2020 31 July 2019
6 6
Year 1 3,109 3,019 2,879
Year 2 3,202 3,109 3,019
Year 3 3,299 3,202 3,109
Year 4 3,397 3,299 3,202
Year 5 3,499 3,397 3,299
Year 6 3,604 3,499 3,397
Year 7 3,713 3,604 3,499
Year 8 3,824 3,713 3,604
Year 9 2,952 3,824 3,713
Year 10 2,952 3,824
Year 11 2,952
Year 12
Year 13
Year 14
Year 15
Year 16
Year 17
Year 18
Year 19
Year 20