2020-08-29-accounts - The Mount School (York)

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

		Page
Introduction	from the clerk to the committee
Members of	the committee's report	1-2
Trustees' report		3-12
Independent	auditor's report on the financial statements	13 - 16
Consolidated	statement offinancial activities	17
Consolidated	balance sheet	18 - 19
Charity balance sheet		20-21
Consolidated	statement ofcash flows	22
Notes to the	financial statements	23-55

				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
				2020	2020	2020	2019
			Note	f	f	f	f
Income from:
Donations and	legacies			62,059	38,428	100,487	61,984
Charitable activities				2,425,628		2,425,628	2,697,787
Other trading	activities			79,358		79,358	135,145
Investments				3,621		3,621
Other income				2,836,897		2,836,897	817,452
Total income				5,407,563	38,428	5,445,991	3,712,371
Expenditure on:
Raising funds				68,769		68,769	60,168
Charitable activities			10	3,648,401	37,428	3,685,829	3,743,457
Other expenditure				4,781		4,781	29,010
Total expenditure				3,721,951	37,428	3,759,379	3,832,635
Net movement	in funds			1,685,612	1,000	1,686,612	(120,264)
Reconciliation	offunds:
Total funds brought		forward		288,791	164,265	453,056	573,320
Net movement	in funds			1,685,612	1,000	1,686,612	(120,264)
Total funds carried		forward		1,974,403	165,265	2,139,668	453,056

					2020		2019
			Note		f		f
Fixed assets
Tangible assets			17		2,871,192		3,017,515
					2,871,192		3,017,515
Current assets
Stocks			19	7,949		9,137
Debtors			20	189,959		175,007
Cash at bank and in hand				1,363,667		513,740
				1,561,575		697,884
Creditors: amounts	falling	due within one year	21	(1,367,479)		(2,157,357)
Net current assets	/ liabilites				194,096		(1,459,473)
Total assets less current		liabilities			3,065,288		1,558,042
Creditors: amounts	falling	due after more than
one year			22		(925,620)		(1,104,986)
Total net assets					2,139,668		453,056

			2020	2019
		Note	f	f
Charity funds
Restricted funds		24	165,265	164,265
Unrestricted	funds	24	1,974,403	288,791
Total funds			2,139,668	453,056

					2020		2019
			Note		f		f
Fixed assets
Tangible assets			17		2,866,875		3,012,126
Investments			18		10		10
					2,866,885		3,012,136
Current assets
Stocks			19	6,663		7,850
Debtors			20	178,999		184,107
Cash at bank and in	hand			1,326,750		409,809
				1,512,412		601,766
Creditors: amounts	falling	due within one year	21	(1,364,874)		(2,153,683)
Net current assets /	liabilites				147,538		(1,551,917)
Total assets less current		liabilities			3,014,423		1,460,219
Creditors: amounts	falling	due after more than
one year			22		(925,620)		(1,104,986)
Net assets excluding	pension asset				2,088,803		355,233
Total net assets					2,088,803		355,233

			2020	2019
		Note	f	f
Charity funds
Restricted funds		24	165,265	164,265
Unrestricted	funds	24	1,923,538	190,968
Total funds			2,088,803	355,233

					2020	2019
				Note	f	f
Cash flows from operating	activities
Net cash used in operating	activities			27	(1,208,043)	(453,118)
Cash flows from investing	activities
Bank interest					3,621
Proceeds from the sale of	tangible fixed assets				2,664,495	807,161
Purchase oftangible fixed	assets				(25,986)
Net cash provided by investing activities					2,642,130	807,164
Cash flows from financing	activities
Repayments offinance leases					(25,042)	(50,195)
Pension deficit payments					(79,815)	(77,491)
Net cash used in financing	activities				(104,857)	(127,686)
Change in cash and cash equivalents		in the	year		1,329,230	226,360
Cash and cash equivalents	at the beginning		ofthe year		34,437	(191,923)
Cash and cash equivalents	at the end	ofthe year		28	1,363,667	34,437
The notes on pages 23to	55form part	ofthese financial statements

Buildings	held on	trust		2%straight line
Office equipment		and	other fixed	Furniture and fittings,	playing	field machinery		and
assets				kitchen equipment	are all depreciated		at 10%
				straight line. The telephone		system, teaching
				equipment and vehicles are		depreciated	at 20%
				straight line.
Buildings	improvements		and	5%straight line
refurbishment

	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	2020	2020	2020	2019
	f	f	f	f
Donations	62,059	38,428	100,487	61,984
Tota I 2019	17,235	44,749	61,984

				Unrestricted
				funds	Total funds	Total funds
				2020	2020	2019
Gross fees receivable				2,930,350	2,930,350	3,174,493
Total scholarships,	bursaries,	discounts	and allowances	(542,150)	(542,150)	(515,626)
				2,388,200	2,388,200	2,658,867
Add back bursaries	paid for	by restricted	funds (Note 9)		37,428	38,920
Net fees					2,425,628	2,697,787
Tota I 2019				2,658,867	2,697,787

		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
		f	f	f
Rentalincome		2,602	2,602	5,084
Tota I 2019		5,084	5,084
Income from non charitable	trading activities
		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
		f	f	f
The Mount School Estates (York) Limited trading income		76,756	76,756	130,061
Tota I 2019		130,061	130,061

		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
		f	f	f
Income from	UK listed investments
Interest receivable		3,619	3,619
		3,621	3,621
Tota I 2019
Other incoming resources
		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
		f	f	f
JRSgrant income		159,033	159,033
Staff meals		4,342	4,342	5,673
After school care		4,047	4,047	7,613
Other income		4,980	4,980	7,664
Profit on sale	oftangible fixed assets	2,664,495	2,664,495	796,502
		2,836,897	2,836,897	817,452
Tota I 2019		817,452	817,452

	Unrestricted	Total	Total
	funds	funds	funds
	2020	2020	2019
	f	E	E
Other expenses	24,721	24,721	32,108
Staff costs	42,976	42,976	26,988
Depreciation	1,072	1,072	1,072
	68,769	68,769	60,168
Tota I 2019	60,168	60,168

	Grants to	Total	Total
	Individuals	funds	funds
	2020	2020	2019
	f	f	f
Grants, Teaching	37,428	37,428	38,920
Tota I 2019	38,920	38,920

	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	2020	2020	2020	2019
	f	f	f	f
Teaching	1,967,829	37,428	2,005,257	2,028,512
Welfare	419,097		419,097	553,265
Premises	642,529		642,529	540,986
Overheads	596,024		596,024	601,449
Governance	22,922		22,922	19,245
	3,648,401	37,428	3,685,829	3,743,457
Tota I 2019	3,645,452	98,005	3,743,457

			Unrestricted	Total	Total
			funds	funds	funds
			2020	2020	2019
			f	f	f
Change	in pension	discount rate	4,781	4,781	29,010
Tota I 2019			29,010	29,010

		Bursaries paid
	Activities	for by
	undertaken	restricted		Total	Total
	directly	funds	Support costs	funds	funds
	2020	2020	2020	2020	2019
	f	f	f	f	f
Teaching	1,868,967	37,428	98,862	2,005,257	2,028,512
Welfare	301,091		118,006	419,097	553,265
Premises	202,443		440,086	642,529	540,986
Overheads			596,024	596,024	601,449
Governance			22,922	22,922	19,245
	2,372,501	37,428	1,275,900	3,685,829	3,743,457
Tota I 2019	2,469,922	38,920	1,234,615	3,743,457

				Total	Total
	Teaching	Welfare	Premises	funds	funds
	2020	2020	2020	2020	2019
	f	f	f	f	f
Wages 8 salaries	1,803,988	299,937	89,206	2,193,131	2,281,261
Depreciation	1,805	1,154	113,237	116,196	117,244
Staff training	3,413			3,413	1,577
Office expenses	28,356			28,356	36,154
Miscellaneous	31,405			31,405	33,686
	1,868,967	301,091	202,443	2,372,501	2,469,922
Tota I 2019	1,860,787	413,577	195,558	2,469,922

			Teaching	Welfare	Premises	Overheads
			2020	2020	2020	2020
			f	f	f	f
Wages 8 salaries						359,834
Depreciation			45,176			9,871
Repairs 8 maintenance			33,146	18,436	132,384
Departmental	costs		20,540
Provisions				84,884
Rates 8 water					63,686
Light &heat					205,942
Insurance					33,846
Travel						975
Legal fees						80,860
Telephone						17,103
Office expenses						17,360
Marketing						47,500
Interest 8 charges						14,903
Miscellaneous				14,686	4,228	15,990
Bad debt write	offs					31,628
Auditor's remuneration
Cost oftrustees'		meetings
			98,862	118,006	440,086	596,024
Tota I 2019			128,805	139,688	345,428	601,449

				Total	Total
			Governance	funds	funds
			2020	2020	2019
			f	f	f
Staff costs				359,834	366,368
Depreciation				55,047	57,141
Repairs and maintenance				183,966	202,972
Departmental	costs			20,540	32,122
Provisions				84,884	103,541
Rates 8 water				63,686	57,365
Light &heat				205,942	116,670
Insurance				33,846	37,828
Travel				975	2,655
Legal fees				80,860	5,780
Telephone				17,103	29,456
Office expenses				17,360	32,270
Marketing				47,500	45,355
Interest Lcharges				14,903	39,027
Miscellaneous				34,904	84,194
Bad debt write		offs		31,628	2,626
Auditor's remuneration			22,427	22,427	18,941
Cost oftrustees'		meetings	495	495	304
			22,922	1,275,900	1,234,615
Tota I 2019			19,245	1,234,615

						2020	2019
						f	f
Fees payable	to the charity's	auditor		for the audit ofthe charity's annual	accounts	18,575	18,035
Fees payable	to the charity's	auditor		in respect of:
All non-audit	services not included		above			480	906
Staff costs
				Group	Group	Charity	Charity
				2020	2019	2020	2019
				f	f	f	f
Wages and salaries				2,085,277	2,233,913	2,042,301	2,206,925
Social security costs				168,493	174,937	168,493	174,937
Contribution	to defined contribution			pension
schemes				342,171	265,767	342,171	265,767
				2,595,941	2,674,617	2,552,965	2,647,629

		Group	Group
		2020	2019
		No.	No.
Teaching staff		54	61
Non-teaching	staff	47	49
Non-executive	directors	10	10
			120

						Group	Group
						2020	2019
						No.	No.
Full	time	equivalents	(excluding	Non-executive	directors)	61	63

Group	Group
2020	2019
No.	No.

	Freehold	Office	Other fixed
	property f	equipment f	assets f	Total f
Cost or valuation
At 1September 2019	4,313,626	563,270	877,789	5,754,685
Additions		25,986		25,986
At 31August 2020	4,313,626	589,256	877,789	5,780,671
Depreciation
At 1September 2019	1,501,939	490,405	744,826	2,737,170
Charge for the year	86,273	59,114	26,922	172,309
At 31August 2020	1,588,212	549,519	771,748	2,909,479
Net book value
At 31August 2020	2,725,414	39,737	106,041	2,871,192
At 31August 2019	2,811,687	72,865	132,963	3,017,515

	Freehold	Office	Other fixed
	property f	equipment f	assets f	Total f
Cost or valuation
At 1September 2019	4,313,626	531,961	877,789	5,723,376
Additions		25,986		25,986
At 31August 2020	4,313,626	557,947	877,789	5,749,362
Depreciation
At 1September 2019	1,501,939	464,485	744,826	2,711,250
Charge for the year	86,273	58,042	26,922	171,237
At 31August 2020	1,588,212	522,527	771,748	2,882,487
Net book value
At 31August 2020	2,725,414	35,420	106,041	2,866,875
At 31August 2019	2,811,687	67,476	132,963	3,012,126

	Investments	in
	subsidiary
charity	companies f
Cost or valuation
At 1September 2019		10
At 31August 2020		10
Net book value
At 31August 2020		10
At 31August 2019		10

The financial	The financial	results ofthe subsidiary	for the year were:
Name			Income	Expenditure	Profit/(Loss)/	Net assets
			f	f	Surplus/	f
				(Deficit) for the
					year f
The Mount		School Estates (York) Limited	92,308	(72,269)	20,039	50,876
Stocks
			Group	Group	Charity	Charity
			2020	2019	2020	2019
			f	f	f	f
Finished	goods and goods for resale		7,949	9,137	6,663	7,850
Debtors
			Group	Group	Charity	Charity
			2020	2019	2020	2019
			f	f	f	f
Due within one year
Trade debtors			70,886	90,518	67,558	71,534
Amounts	owed by group undertakings				4,573	28,084
Prepayments		and accrued income	119,073	84,489	106,868	84,489
			189,959	175,007	178,999	184,107

			Group	Group	Charity	Charity
			2020	2019	2020	2019
			f	f	f	f
Bank loans and overdrafts				479,303		479,303
Payments received on	account		319,753	557,662	319,753	557,662
Trade creditors			282,530	256,515	281,575	254,491
Pension scheme funding		deficit liability	72,147	69,617	72,147	69,617
Other taxation and social		security	41,392	42,858	41,392	42,858
Obligations under finance		lease and hire purchase
contracts				25,042		25,042
Composition scheme			78,366	123,762	78,366	123,762
Other creditors			498,444	535,158	498,444	535,158
Accruals and deferred	income		74,847	67,440	73,197	65,790
			1,367,479	2,157,357	1,364,874	2,153,683

			Group	Group	Charity	Charity
			2020	2019	2020	2019
			f	f	f	f
Pension scheme funding		deficit liability	429,629	496,995	429,629	496,995
Other creditors			273,695	319,064	273,695	319,064
Composition	fee scheme		222,296	288,927	222,296	288,927
			925,620	1,104,986	925,620	1,104,986

		2020	2019
		f	E
Opening	liabilities	(566,612)	(603,705)
Remeasure ments		(4,781)	(29,010)
Contributions		77,816	77,491
Interest	cost	(10,199)	(11,389)
Actuarial	gain/(losses)
Closing	liability	(505,691)	(566,612)

Statement offunds - current year	Statement offunds - current year	Statement offunds - current year
			Balance at 1
			September			Transfers	Balance at 31
			2019	Income	Expenditure	in/out	August 2020
			f	f	f	f	f
Unrestricted funds
Designated funds
Tangible fixed	assets		3,017,515			(146,323)	2,871,192
PAC project				36,896			36,896
			3,017,515	36,896		(146,323)	2,908,088
General funds
School general	fund		(2,259,936)	5,278,359	(3,714,517)	213,319	(482,775)
Pension Deficit			(566,611)		64,835		(501,776)
Mount School	Estates		97,823	92,308	(72,269)	(66,996)	50,866
			(2,728,724)	5,370,667	(3,721,951)	146,323	(933,685)
Total Unrestricted		funds	288,791	5,407,563	(3,721,951)		1,974,403

				Balance at 1
				September			Transfers	Balance at 31
				2019	Income	Expenditure	in/out	August 2020
				f	f	f	f	f
Restricted funds
Scholarships,		bursaries	and prizes	161,716				161,716
PAC project					1,000			1,000
Academic Development			Fund		37,428	(37,428)
Legal fees				1,844				1,844
Sports for Champions				705				705
				164,265	38,428	(37,428)		165,265
Total offunds				453,056	5,445,991	(3,759,379)		2,139,668
Statement of		funds - prior year
				Balance at				Balance at
				1September			Transfers	31August
				2018	Income	Expenditure	in/out	2019
				f	f	f	f	f
Unrestricted	funds
Designated	funds
Tangible fixed		assets		3,203,560			(186,045)	3,017,515
PAC project				5,522			(5,522)
				3,209,082			(191,567)	3,017,515

				Balance at				Balance at
				1September			Transfers	31August
				2018	Income	Expenditure	in/out	2019
				E	E	E	E	E
General funds
School general	fund			(2,306,487)	3,537,561	(3,708,552)	217,543	(2,259,935)
Pension Deficit				(603,704)		37,092		(566,612)
Mount School	Estates			110,869	130,061	(63,170)	(79,937)	97,823
				(2,799,322)	3,667,622	(3,734,630)	137,606	(2,728,724)
Total Unrestricted		funds		409,760	3,667,622	(3,734,630)	(53,961)	288,791
Restricted funds
Scholarships,	bursaries		and prizes	161,716				161,716
PAC project					4,229	(58,190)	53,961
Academic Development			Fund		38,920	(38,920)
Legal fees				1,844				1,844
Sports for Champions					1,600	(895)		705
				163,560	44,749	(98,005)	53,961	164,265
Total offunds				573,320	3,712,371	(3,832,635)		453,056

Summary		offunds - current year
			Balance at 1
			September			Transfers	Balance at 31
			2019	Income	Expenditure	in/out	August 2020
			f	f	f	f	f
Designated		funds	3,017,515	36,896		(146,323)	2,908,088
General	funds		(2,728,724)	5,370,667	(3,721,951)	146,323	(933,685)
Restricted		funds	164,265	38,428	(37,428)		165,265
			453,056	5,445,991	(3,759,379)		2,139,668

			Balance at				Balance at
			1September			Transfers	31August
			2018	Income	Expenditure	in/out	2019
			f	f	f	f	f
Designated		funds	3,209,082			(191,567)	3,017,515
Genera	I funds		(2,799,322)	3,667,622	(3,734,630)	137,606	(2,728,724)
Restricted		funds	163,560	44,749	(98,005)	53,961	164,265
			573,320	3,712,371	(3,832,635)		453,056

		Unrestricted	Restricted	Total
		funds	funds	funds
		2020	2020	2020
		f	f	f
Tangible fixed assets		2,871,192		2,871,192
Current assets		1,396,311	165,265	1,561,576
Creditors due within one year		(1,367,479)		(1,367,479)
Creditors due in more than one	year	(925,620)		(925,620)
Difference		(1)		1
Total		1,974,403	165,265	2,139,668
Analysis of net assets between	funds - prior period
		Unrestricted	Restricted	Total
		funds	funds	funds
		2019	2019	2019
		f	f	f
Tangible fixed assets		3,017,515		3,017,515
Current assets		533,619	164,265	697,884
Creditors due within one year		(2,157,357)		(2,157,357)
Creditors due in more than one	year	(1,104,986)		(1,104,986)
Tl		288,791	164,265	453,056

27.	Reconciliation ofnet movement	Reconciliation ofnet movement	Reconciliation ofnet movement	in funds to net cash flow from operating
					Group	Group
					2020	2019
					f	f
	Net income/expenditure for the			period (as per Statement of Financial Activities)	1,686,612	(120,264)
	Adjustments for:
	Depreciation charges				172,309	175,385
	Bank interest				(3,621)	(3)
	Profit on the sale of	fixed assets			(2,664,495)	(796,501)
	Decrease in stocks				1,188	2,543
	Decrease/(increase)	in debtors			(14,952)	5,039
	Increase/(decrease)	in creditors			(400,064)	240,284
	Pension finance costs				10,199	11,389
	Actuarial movement	on pension			4,781	29,010
	Net cash used in operating		activities		(1,208,043)	(453,118)
28.	Analysis ofcash and	cash	equivalents
					Group	Group
					2020	2019
					f	E
	Cash in hand				1,363,667	513,740
	Overdraft facility repayable		on demand			(479,303)
	Total cash and cash	equivalents			1,363,667	34,437

						At 1
						September			At 31	August
						2019	Cash flows			2020
						f		f		f
Cash at bank and in hand						513,740	849,927		1,363,667
Bank overdrafts repayable			on demand			(479,303)	479,303
Debt due	within 1year					(69,617)		(2,530)	(72,147)
Debt due	after 1year					(496,995)		67,366	(429,629)
Finance leases						(25,042)		25,042
						(557,217)	1,419,108		861,891
Operating	lease commitments
At 31August		2020 the Group and the charity		had commitments	to	make future minimum		lease payments		under
non-cancellable		operating	leases as follows:
				Group		Group		Charity		Charity
				2020		2019		2020		2019
					f	f		f		f
Not later	than	1year		7,231		8,172		7,231		8,172
Later than	1year and not		later than 5years	6,010		13,242		6,010		13,242
				13,241		21,414		13,241		21,414