**Charity registration number 510515 Company registration number 01515144 (England and Wales)** ## **CASTLE HOUSE SCHOOL TRUST LIMITED** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 29 AUGUST 2023** ## **CASTLE HOUSE SCHOOL TRUST LIMITED** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Mr D W Aldred Mr L G Collins Mr K I Paton-Feaver Mrs S Fletcher Mr R K Mishra Mrs T Vreede Mrs L Horritt Mrs N L Tenhoeve **Charity number** 510515 **Company number** 01515144 **Registered office** Castle House School Chetwynd End Newport Shropshire United Kingdom TF10 7JE **Independent Examiner** Digital Accountancy Services Limited 69 Emerald Way Milton Stoke on Trent Staffordshire ST6 8HL (Appointed 12 September 2023) (Appointed 12 September 2023) ## **CASTLE HOUSE SCHOOL TRUST LIMITED** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1-2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Statement of cash flows|6| |Notes to the financial statements|7-15| ## **CASTLE HOUSE SCHOOL TRUST LIMITED TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 29 AUGUST 2023** The trustees present their annual report and financial statements for the year ended 29 August 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). ## **Objectives and activities** The charity's objectives, as set out in its Memorandum and Articles of Association, is to promote and provide for the advancement of education of children. In pursuance of these objects, the charity runs the undertaking known as Castle House School, Newport, Shropshire. ## **Strategic report** Castle House School seeks to benefit the public through the pursuit of its stated aims. Our fees are set at a level to ensure the financial viability of the school, at a level that is consistent with our aim of providing a first class education to boys and girls, and at a level to enable access by a wide cross-section of the public as possible. Our bursary policy and social provision for the community contribute to a widening access to the education we offer and the facilities we enjoy. Our school choir is actively engaged in musical events within the town of Newport, performing in such events as the lights switch on and carol service. The school supported the local 'Field to Fork' festival as well as the Newport Show, at both events running free workshops for children and providing refreshments for the wider community. ## **Achievements and performance** ## **Financial review** The trustees report a challenging year, with a loss of (£77,242) (2022: (£36,294)). At the end of the year, the reserves stood at £399,839 (2022: £475,499). All of the reserves held at the year-end are represented by the general undesignated fund. ## **Going concern** Like many concerns, the school has continued to feel the effect of the Covid-19 pandemic and its longerterm impact on pupil numbers as well as the impact of the cost-of-living crisis. The trustees anticipated that this year would trade a loss as numbers recovered. The robust strategic framework to develop the schools’ offer across both early years and preparatory education have seen pupil and nursery numbers begin to show significant signs of recovery. The trustees believe that the financial statements have been prepared appropriately on the going concern basis. ## **Reserves policy** The purpose of the school's reserves is to ensure its stability and ongoing operations. The school building itself services the assets of the charity and needs to be preserved to achieve the charity's objective. As the school building is not available for distribution, it is the policy of the trustees to continue to build up reserves to a level which would allow the school to operate efficiently from its cash balances. **Page 1** ## **CASTLE HOUSE SCHOOL TRUST LIMITED TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 29 AUGUST 2023** ## **Structure, governance and management** Castle House School Trust Limited was founded in September 1980, a company limited by guarantee, and not having share capital and is governed by its Memorandum and Articles of Association. The directors are also referred to as trustees and governors, and for the purpose of this report are collectively referred to as the trustees. Trustees who served during the year and up to the date of signature of the financial statements were: Mr D W Aldred Mr L G Collins Mr K I Paton-Feaver Mrs S Fletcher Mr R K Mishra Mrs T Vreede Mrs L Horritt (Appointed 12 September 2023) Mrs N L Tenhoeve (Appointed 12 September 2023) The method of appointing new trustees consists of initial nominations made by present trustees, who are often people linked to the school. The nominations are then discussed, and a vote is taken. The trustees undertake an initial induction process into the workings of the charity, including board policy and procedures, organised for them by the headmaster. The trustees are informed of the specific responsibilities of trustees by the use of Charity Commission publications. The trustees' report, including the strategic report, was approved by the Board of Trustees. Mr K I Paton-Feaver **Trustee** 28 May 2024 **Page 2** **CASTLE HOUSE SCHOOL TRUST LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CASTLE HOUSE SCHOOL TRUST LIMITED** I report to the trustees on my examination of the financial statements of Castle House School Trust Limited (the charity) for the year ended 29 August 2023 which are set out on pages 4 - 15. ## **Responsibilities and basis of report** As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all of the applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner’s statement** Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Accounting Technicians, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1 Accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2 The financial statements do not accord with those records; or 3 The financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4 The financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## **Karen Smith MAAT Digital Accountancy Services Limited** 69 Emerald Way Milton Stoke on Trent Staffordshire ST6 8HL Dated: 28 May 2024 **Page 3** ## **CASTLE HOUSE SCHOOL TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 29 AUGUST 2023** **----- Start of picture text -----**
Unrestricted Restricted Total Unrestricted
funds funds funds
2023 2023 2023 2022
Notes £ £ £ £
Income from:
Donations and legacies 3 - - - 318
Charitable activities 4 632,304 - 632,304 484,359
Total income 632,304 - 632,304 484,677
Expenditure on:
Charitable activities 6 709,546 - 709,546 520,971
-
Net (outgoing)/incoming resources before transfers (77,242) (77,242) (36,294)
Gross transfer between funds 1,582 (1,582) - 1,223
Net (expenditure)/income for the year/
Net movement in funds (75,660) (1,582) (77,242) (35,071)
Fund balances at 30 August 2022 475,499 1,582 477,081 510,570
-
Fund balances at 29 August 2023 399,839 399,839 475,499
**----- End of picture text -----**
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. **Page 4** ## **CASTLE HOUSE SCHOOL TRUST LIMITED BALANCE SHEET AS AT 29 AUGUST 2023** **----- Start of picture text -----**
2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 10 712,920 714,663
Current assets
Debtors 11 102,082 82,922
Cash at bank and in hand 33,577 30,966
135,659 113,888
Creditors: amounts falling due within
one year 13 (315,029) (192,309)
Net current liabilities (179,370) (78,421)
Total assets less current liabilities 533,550 636,242
Creditors: amounts falling due after
more than one year 14 (133,711) (159,161)
Net assets 399,839 477,081
Income funds
Restricted funds 16 - 1,582
Unrestricted funds 399,839 475,499
399,839 477,081
**----- End of picture text -----**
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 29 August 2023. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 28 May 2024 Mr K I Paton-Feaver **Trustee** ## **Company registration number 01515144** **Page 5** ## **CASTLE HOUSE SCHOOL TRUST LIMITED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 29 AUGUST 2023** **----- Start of picture text -----**
2023 2022
Notes £ £ £ £
Cash flows from operating activities
Cash absorbed by operations 19 37,205 (352)
Investing activities
Purchase of tangible fixed assets (3,088) (3,322)
Net cash used in investing activities (3,088) (3,322)
Financing activities
Repayment of bank loans (25,265) (26,503)
Net cash used in financing activities (25,265) (26,503)
Net decrease in cash and cash equivalents 8,852 (30,177)
Cash and cash equivalents at beginning of year 1,608 31,785
Cash and cash equivalents at end of year 10,460 1,608
Relating to:
Cash at bank and in hand 33,577 30,966
Bank overdrafts included in creditors payable (23,117) (29,358)
within one year
10,460 1,608
**----- End of picture text -----**
**Page 6** **CASTLE HOUSE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 AUGUST 2023** ## **1 Accounting policies** ## **Charity information** Castle House School Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is, Castle House School, Chetwynd End, Newport, Shropshire, TF10 7JE, United Kingdom. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they must be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once that the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. **(Continued)** **Page 7** **CASTLE HOUSE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 AUGUST 2023** ## **1 Accounting policies** - **1.5** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The cost of each activity is made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings 0% Fixtures and fittings 25% reducing balance Computers 25% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. No depreciation is provided on freehold properties as it is the charity's practice to maintain these assets in a continual state of sound repair. Accordingly, the trustees consider that the lives of these assets are so long and residual values are so high that depreciation is insignificant. ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment. loss (if any). ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.9 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. **(Continued)** **Page 8** **CASTLE HOUSE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 AUGUST 2023** ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. **(Continued)** **Page 9** ## **CASTLE HOUSE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 AUGUST 2023** ## **3 Donations and legacies** |**Unrestricted**
**funds**
**2023**
**£**
Donations and gifts
-|**Restricted**
**funds**
**2023**
**£**
-|**Total Unrestricted**
**funds**
**2023**
**2022**
**£**
**£**
-
318| |---|---|---| ## **4 Charitable activities** |Income from charitable activities
**For the year ended 29 August 2022**
Income from charitable activities|**Fees**
**receivable**
**£**
608,462
**Fees**
**receivable**
**£**
476,570|**School trip**
**income**
**£**
10,710
**School trip**
**income**
**£**
4,068|**Misc.**
**income**
**£**
13,132
**Misc.**
**income**
**£**
3,402|**Total**
**2023**
**£**
632,304
**PLA**
**fundraising**
**£**
319|**Total**
**2022**
**£**
484,359
**Total**
**2022**
**£**
484,359| |---|---|---|---|---|---| ## **5 Allocation of support costs and overheads** All costs during the year are directly attributable to activities and therefore no allocation has been required. **(Continued)** **Page 10** ## **CASTLE HOUSE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 AUGUST 2023** ## **6 Charitable activities** |Staff costs
Staff training
Depreciation and impairment
Rates and insurance
Light and heat
Telephone
Repairs and maintenance
Accountancy
Legal and professional fees
Equipment hire
Food and drink
Bank charges
Interest payable
Teaching material costs
Vehicle costs
Advertising
General expenses
Computer running costs
Charitable donations|**Charitable**
**expenditure**
**2023**
**£**
544,086
4,049
4,831
26,612
24,077
89
15,501
4,850
5,581
1,123
26,967
1,259
13,843
18,212
5,645
2,051
8,483
716
1,572
709,546|**Charitable**
**expenditure**
**2022**
**£**
402,892
-
4,774
24,242
16,100
100
13,348
3,120
1,884
-
17,554
986
6,525
14,982
4,475
2,304
2,097
5,538
50
520,971| |---|---|---| ## **7 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **8 Employees** The average monthly number of employees during the year was: |**2023**
**Number**
24|**2022**
**Number**
21| |---|---| **(Continued)** **Page 11** ## **CASTLE HOUSE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 AUGUST 2023** |**8**
**Employees**
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2023**
**£**
476,698
34,755
32,633
544,086|**(Continued)**
**2022**
**£**
347,773
24,340
30,779
402,892| |---|---|---| There were no employees whose annual remuneration was more than £60,000. ## **9 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## **10 Tangible fixed assets** |**Freehold land Fixtures and**
**and buildings**
**fittings**
**£**
**£**
**Cost**
At 30 August 2022
701,460
116,398
Additions
-
1,506
At 29 August 2023
701,460
117,904
**Depreciation and impairment**
At 30 August 2022
-
107,336
Depreciation charged in the year
-
2,642
At 29 August 2023
-
109,978
**Carrying amount**
At 29 August 2023
701,460
7,926
At 29 August 2022
701,460
9,062
**11 Debtors**
**Amounts falling due within one year:**
Trade debtors|**Computers**
**£**
7,175
1,582
8,757
3,034
2,189
5,223
3,534
4,141
**2023**
**£**
102,082|**Total**
**£**
825,033
3,088
828,121
110,370
4,831
115,201
712,920
714,663
**2022**
**£**
82,922| |---|---|---| **(Continued)** **Page 12** ## **CASTLE HOUSE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 AUGUST 2023** ## **12 Loans and overdrafts** |Bank overdrafts
Bank loans
Payable within one year
Payable after one year
**13 Creditors: amounts falling due within one year**
**Notes**
Bank loans and overdrafts
**12**
Other taxation and social security
Deferred income
**15**
Trade creditors
Other creditors
Accruals
**14 Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**12**|**2023**
**£**
23,116
158,976
182,092
48,381
133,711
182,092
**2023**
**£**
48,381
87,819
163,750
2,718
2,200
10,160
315,029
**2023**
**£**
133,711|**2022**
**£**
29,358
184,241
213,599
54,438
159,161
213,599
**2022**
**£**
54,438
38,231
77,768
2,381
7,331
12,160
192,309
**2022**
**£**
159,161| |---|---|---| The long-term loans are secured by fixed charges over the school property. **(Continued)** **Page 13** ## **CASTLE HOUSE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 AUGUST 2023** ## **15 Deferred income** |Arising from fees receivable
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 30 August 2022
Released from previous periods
Resources deferred in the year
Deferred income at 29 August 2023|**2023**
**£**
163,750
**2023**
**£**
163,750
77,768
(77,768)
163,750
163,750|**2022**
**£**
77,768
**2022**
**£**
77,768
94,131
(94,131)
77,768
77,768| |---|---|---| ## **16 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: |**Balance at**
**30 August 2022**
**£**
iPad grant
1,582
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**2023**
**£**
Fund balances at 29 August 2023 are represented by:
Tangible assets
712,920
Current liabilities
(179,370)
Long term liabilities
(133,711)
399,839|**Incoming**
**Transfers**
**Balance at**
**resources**
**29 August 2023**
**£**
**£**
**£**
-
(1,582)
-
**Restricted**
**Total Unrestricted**
**funds**
**funds**
**2023**
**2023**
**2022**
**£**
**£**
**£**
-
712,920
714,663
-
(179,370)
(78,421)
-
(133,711)
(159,161)
399,839
477,081
**Movement in funds**| |---|---| ## **17 Analysis of net assets between funds** **(Continued)** **Page 14** ## **CASTLE HOUSE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 AUGUST 2023** ## **18 Related party transactions** There were no disclosable related party transactions during the year (2022 - £NIL). |**19 Cash generated from operations**
(Deficit)/surplus for the year
Adjustments for:
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase in creditors
Increase/(decrease) in deferred income
**20 Analysis of changes in net (debt)/funds**
**At 30 August**
**2022**
**£**
Cash at bank and in hand
30,966
Bank overdrafts
(29,358)
1,608
Loans falling due within one year
(25,080)
Loans falling due after more than one year
(159,161)
(182,633)|**2023**
**2022**
**£**
**£**
(77,242)
(33,489)
4,831
4,774
(19,160)
10,891
42,794
33,835
85,982
(16,363)
37,205
(352)
**Cash flows At 29 August**
**2023**
**£**
**£**
2,611
33,577
6,241
(23,117)
8,852
10,460
(185)
(25,265)
25,450
(133,711)
34,117
(148,516)| |---|---| **Page 15**