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|||Page|
|---|---|---|
|Company
information|||
|Directors'
report|||
|Independent
auditors'|report|18|
|Statement
of financial|activities|21|
|Balance sheet||22|
|Cash flow statement||23|
|Notes to the accounts||24|
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|Auditors||Cooper Parry Group|Cooper Parry Group|Limited|Limited|Limited|
|---|---|---|---|---|---|---|
|||Sky View|||||
|||Argosy Road|||||
|||East Midlands
Airport|||||
|||Castle Donnington|||||
|||Derby|||||
|||DE74 2SA|||||
|Bankers||National
Westminster|||Bank|Pic|
|||13The Borough|||||
|||Hinckley|||||
|||Leicesters hire|||||
|||LE10 1NW|||||
|||Pattersons
Commercial|||Law||
|Solicitors||2 Pear Tree Business|||Park||
|||Desford Lane|||||
|||Ratby|||||
|||Leicestershire|||||
|||LE6 OPG|||||
|||Veale Wasbrough|Vizards|||LLP|
|||Narrow
Quay House|||||
|||Narrow
Quay|||||
|||Bristol|||||
|||BS14QA|||||
|Insurance|Brokers|Turner Insurance|Group||||
|||34-36 Princess Road||West|||
|||Leicester|||||
|||LE1 6TQ|||||
|Land Agents||Fisher German
LLP
The Estates Office|||||
|||Norman
Court|||||
|||Ivanhoe Business|Park||||
|||Ashby de la Zouch|||||
|||LE65 2UZ|||||
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|previo|us year being 293|Senior School, 150Junior School a|nd 29 Nursery.|
|---|---|---|---|
|||2020/2021|2019/2020|
|Senior|School|286|313|
|Junior|School|140|142|
|Nursery|(FTE)|20|19|
|Total||446|474|
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||||Notes|Unrestricted|Restricted|2021|2020|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|||
||||||E|||
|Income from:||||||||
|Charitable
activities||||||||
|School fees receivable|||2|4,678,118||4,678,118|4,295,639|
|Ancillary
trading
income|||3|245,027||245,027|261,600|
|Other trading
activities||||||||
|Non-ancillary
trading
income||||6,451||6,451|12,709|
|Other activities||||7,868||7,868|12,962|
|Investments||||||||
|Bank and other interest||||6,904||6,904||
|Donations
and legacies||||||||
|Grants and donations||||32,884||32,884|350|
|Other incoming
resources||||||||
|Government
grants receivable-
Coronavirus
Job Retention
Scheme||||13,310||13,310|234,698|
|Insurance
claim||||184,917||184,917|125,000|
|TOTAL INCOMING RESOURCES||||5,175,479||5,175,479|4,942,958|
|Expenditure
on:||||||||
|Raising funds||||||||
|Financing
costs||||18,639||18,639|14,351|
|Fundraising
and development||||622||622|336|
|Charitable
Activities||||||||
|Education
and grant making|||7|5,094,091|60,300|5,154,391|4,904,763|
|TOTAL EXPENDITURE||||5,113,352|60,300|5,173,652|4,919,450|
|NET (EXPENDITURE)/INCOME
transfers||before||62,127|(60,300)|1,827|23,508|
|Transfers
between
funds|||19|(24,090)|24,090|||
|NET (EXPENDITURE)
/ INCOME
transfers||after||38,037|(36,210)|1,827|23,508|
|Fund balances at 1 September 2020||||1,549,494|888,663|2,438,157|2,414,649|
|FUND BALANCES AS AT 31AUGUST|||2021|1,587,531|852,453|2,439,984|2,438,157|
##
|||Note|||||
|---|---|---|---|---|---|---|
|||||2021||2020|
|FIXEDASSETS|||||||
|Tangible assets||13||3,289,785||3,376,115|
|CURRENT ASSETS|||||||
|Stock|||7,360||5,255||
|Debtors||14|135,390||308,900||
|Cash at bank and
in hand|||1,465,673||1,243,293||
||||1,608,423||1,557,448||
|CREDITORS: amounts|falling||||||
|due within one year||15|~1186618||807383||
|NET CURRENT ASSETS||||4219805||750,065|
|TOTAL ASSETSLESS|||||||
|CURRENT LIABILITIES||||3,711,590||4,126,180|
|CREDITORS: amounts|falling||||||
|due after one year||16||(1,271,606)||(1,688,023)|
|TOTAL NET ASSETS||||2,439,984||2,438,157|
|REPRESENTED BY:|||||||
|RESTRICTED FUNDS||19||852,453||888,663|
|UNRESTRICTED FUNDS||19||165871531||1,549,494|
|||||2,439,984||2,438,157|
##
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|||||||2021|2020|
|---|---|---|---|---|---|---|---|
||||||Note||E|
|Cash flows from operating||activities:||||||
|Net cash|provided by operating
activities||||24|647,655|(121,590)|
|Cash flows from investing||activities:||||||
|Dividends,|interest and rents|from investments|||5|6,904||
|Purchase|of property,
plant and equipment||||13|(199,053)|(514,649)|
|Sale of property,
plant and equipment|||||||1,250|
|Net cash|used in investing|activities||||(192,'l 49)|(513,399)|
|Cash flows from financing||activities:||||||
|New bank loans
Repayments
of borrowing||||||~233,4 26|1,284,024
~34,662|
|Net cash|(used)!generated|in financing|activities|||(233,126)|1,249,342|
|Change in cash and cash equivalents|||in the|||222,380|614,353|
|reporting|period|||||||
|Cash and|cash equivalents|at the beginning||ofthe||1,243,293|628,940|
|reporting|period|||||||
|Cash and|cash equivalents|at the end|ofthe|||||
|reporting|period|||||1,465,673|1,243,293|
|Cash and|cash equivalents|consist of:||||||
|Cash at bank and
in hand||||||1,465,673|1,243,293|
||||At 1 August|Cashflows|Other|At 31|
|---|---|---|---|---|---|---|
||||2020||changes|August|
|||||||2021|
|||||||E|
|Cash|at bank and in hand||1,243,293|222,380||1,465,673|
|Debt|due|& 1year|(61,522)|(233,126)|72,613|(222,035)|
|Debt|due|& 1year|(1,498„621)||393,639|(1,104,982)|
||||(316,850)|(10,746)|466,252|138,656|
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||||2021|2020|
|---|---|---|---|---|
||||E|F|
|The school fees income comprises:|||||
|Gross fees|||5,259,465|4,868,041|
|Less: scholarships,|bursaries,|etc|(581,347)|(572,402)|
||||4,678,118|4,295,639|
##
|||||2021|2020|
|---|---|---|---|---|---|
|Extras||||169,955|202,051|
|Entrance fees and registration||fees||10,652|20,722|
|Summer
play scheme||||29,200||
|Commissions
and other income||||35,220|38,827|
|||||245,027|261,600|
|prior year all income|in relation|to ancillary|trading|income was unrestricted.||
|THER TRADING ACTIVITIES||||||
|||||2021|2020|
|Non-ancillary
trading|income|||||
|Lettings and hire||||6,451|12,709|
|||||6,451|12,709|
|Other activities||||||
|Interest on overdue fees||||514|1,329|
|Other||||7,354|11,633|
|||||7,868|12,962|
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||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||||E|F|
|Bank interest|||||||6,904||
||||||||6,904||
|In the prior year|all income|in relation|to bank and other interest||was|unrestricted,|||
|6.
VOLUNTARY SOURCES —GRANTS AND DONATIONS|||||||||
||||||||2021|2020|
|||||||||E|
|Other donations|||||||32,884|350|
||||||||32,884|350|
|n the prior year|all grants|and donations||related to unrestricted|funds.||||
|7.
ANALYSIS|OF EXPENDITURE||||||||
|a)
Total expenditure|||||||||
|||Staff costs||Depreciation||Support|Total|Total|
|||(note|10)|(note 13)||Costs|2021|2020|
||||E|E|||||
|Costs of raising funds|||||||||
|Financing cost|(note 9)|||||18,639|18,639|14,351|
|Fundraising
and||||||622|622|336|
|development|||||||||
|Total cost ofgenerating
funds||||||19,261|19,261|14,687|
|Charitable
expenditure|||||||||
|Teaching||3,067,087||||128,624|3,195,711|3,033,449|
|Welfare||||||27,390|27,390|7,496|
|Premises||166,994||173,512||302,192|642,698|672,000|
|School administration||539,748||111,871||624,435|1,276,054|1,189,215|
|and governance|||||||||
|Grants awards|and|||||12,538|12,538|2,603|
|prizes|||||||||
|Total charitable
expenditure||3,773,829||285,383||1,095,179|5,154,391|4,904,763|
|Total Expenditure||3,773,829||285,383||1,114,440|5,173,652|4,919,450|
##
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||||2021|2020|
|---|---|---|---|---|
|Net incoming|resources|is stated after charging:|||
|Auditor's
remuneration|||11,000|10,000|
|Depreciation|||285,383|253,982|
|FINANCING
COSTS|||||
||||2021f|2020|
|Bad debts|||||
|Bank interest|||18,288|14,000|
|Lease finance|costs||351|351|
||||18,639|14,351|
|TAFF COSTS|||||
||||2021|2020|
|||||E|
|The aggregate|payroll costs for the year were:||||
|Wages and salaries|||2,980,371|2,990,247|
|Social security|costs||281,830|276,597|
|Other pension|costs||511,628|492,050|
||||3,773,829|3,758,894|
##
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|The number|of higher|paid|employees|employees|whose annual|whose annual|emoluments|||
|---|---|---|---|---|---|---|---|---|---|
|(excluding|pensions)|were|F60,000 or more was:|||||||
|||||||||2021|2020|
|||||||||No|No|
|260,000 - F70,000||||||||||
|F101,000 -|F110,000|||||||||
|The number|with retirement
benefits||||accruing:|||||
|- in defined|benefit schemes was|||||||||
|ofwhich the contributions|||amounted||to|||839,887|839,887|
|The average|number ofemployees|||during||the year was:||||
|||||||||2021|2020|
|||||||||No|No|
|Teaching||||||||60|63|
|Office and non-teaching||||||||34|36|
|Directors||||||||11|11|
|||||||||105|110|
##
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|13.TANGIBLE FIXED|ASSETS||||||
|---|---|---|---|---|---|---|
||Freehold|Leasehold|Furniture
&|Books 8|Plant &||
||Land 8|Land &|Office|'Teaching|Motor||
||Buildings|Buildings|Equipment|Equipment|Vehicles|Total|
||P||||||
|Cost|||||||
|At 1 September 2020|3,704,060|805,502|535,461|237,008|89,020|5,371,051|
|Additions|42,401|44,863|90,624||21,165|199,053|
|Disposals|||(110,612)|(47,778)|(8,858)|(167,248)|
|At 31August 2021|3,746,461|850,365|515,473|189,230|101,327|5,402,856|
|Depreciation|||||||
|At 1 September 2020|998,956|453,954|288,984|181,773|71,269|1,994,936|
|Charge for the year|137,475|36,037|76,408|24,255|11,208|285,383|
|Disposals|||(110,612)|(47,778)|(8,858)|(167,248)|
|At 31 August 2021|1,136,431|489,991|254,780|158,250|73,619|2,113,071|
|Net book value at 31|||||||
|August 2021|2,610,030|360,374|260,693|30,980|27,708|3,289,785|
|Net book value at|||||||
|31 August 2020|2,705,104|351,548|246,477|55,235|17,751|3,376,115|
##
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|REDITORS: amounts
falling due after one year|||
|---|---|---|
||2021|2020|
|||E|
|Bank loans|1,104,982|1,498,621|
|Deposits from parents
Net obligations
under finance leases
Fees in advance scheme|147,382
845
18,397|156,247
4,226
28,929|
||1,271,606|1,688,023|
##
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|||||2021|2020|
|---|---|---|---|---|---|
|||||F|F|
|The
Due
Due|bank
after
within|loans are repayable
5years
2 to 5 years|in instalrnents:|276,977
605,970|368,389
858,194|
|Due|within|1 to 2 years||222,035|272,038|
|Due|after|more than one year||1,104,982|1,498,621|
|Due|within|1 year||222„035|61,522|
|||||1,327,017|1,560,143|
##
|||2021|2020|
|---|---|---|---|
|||F|E|
|Within 2 to 5years
Within
1 to 2years||18,397|9,705
19,224|
|||18,397|28,929|
|Within
1 year||27,917|39,327|
|||46,314|68,256|
|Summary
of movements|in liability|||
|Balance at 1 September 2020
New contracts|||68,256
8,693|
|Amounts
used to pay fees|||(30„635)|
|Balance at 31August 2021|||46,314|
##
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|RESTRICTED FUNDS|RESTRICTED FUNDS|At||||Ai|
|---|---|---|---|---|---|---|
|||1|Incoming|Outgoing|Transfer|31August|
|||September
2020|resources|resourcesf|E|2021|
|Bursary
Fund
The Bernard|Heathcote|2,886
879,277||(60,300)|24,090|2,886
843,067|
|Foundation|||||||
|Station Road
Staff welfare|Development
fund|6,400
100
888,663||~60,300|24,090|6,400
100
852,453|
|RESTRICTED FUNDS||At||||At|
|PREVIOUS YEAR||1|Incoming|Outgoing|Transfer|31August|
|||September|resources|resources||2020|
|||2019|E||||
|Bursary
Fund
The Bernard|Heathcote|2,886
911,391||(60,000)|27,886|2,886
879,277|
|Foundation|||||||
|Station Road
Staff welfare|Development
fund|6,400
100
920,777||~60,000|27,886|6,400
100
888,663|
##
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|UNRESTRICTED|At||||At|
|---|---|---|---|---|---|
|FUNDS|1 September|Incoming|Outgoing||31August|
||2020|resources|resources|Transfer|2021|
|||||E|E|
|General|1,512,470|5,175,479|(5,113,352)|(24,090)|1,550,507|
|Designated
Funds
Myra Pedley Fund
Sports Facility Fund|20,645
16,379
1,549,494|5,175,479|N.'"."5||20,645
16,379|
|UNRESTRICTED|At||||At|
|FUNDS|1 September|Incoming|Outgoing||31August|
||2019|resources|resources|Transfer|2020|
|General|1,456,848|4,942,958|(4,859,450)|(27,886)|1,512,470|
|Designated
Funds||||||
|Myra Pedley Fund
Sports Facility Fund|20,645
16,379||||20,645
16,379|
||1,493,872|4,942,958||||
##
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|0. ANALYSIS OF NET ASSETS BETW|EEN FUNDS|||
|---|---|---|---|
||Unrestricted|Restricted|2021|
||E|E|E|
|Tangible fixed assets|3,289,785||3,289,785|
|Interfund
loan|(852,453)|852,453||
|Net current assets|421,805||421,805|
|Long term liabilities|(1,271,606)||(1,271„606)|
||1,587,531|852,453|2,439,984|
##
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|||Unrestricted|Restricted|2020|
|---|---|---|---|---|
|Tangible|fixed assets|3,376,115||3,376,115|
|lnterfund|loan|(888,663)|888,663||
|Net current (liabilities)/assets||750,065||750„065|
|Long term liabilities||(1,688,023)||(1,688,023)|
|||1,549,494|888,663|2,438,157|
##
|August 2021 the charitable
c
eases
as follows|ompany
has total minimum|lease payments
u|nder non-cancellable|operating|
|---|---|---|---|---|
||Land and buildings||Other||
||2021|2020|2021|2020|
|||E||E|
|Expiry date:|||||
|Within
1 year|63,500|63,500|10,368|11,341|
|Between 2 and 5years|249,500|254,000|10,375|18,230|
|After 5 years|54,500|113,500|||
||367,500|431,000|20,743|29,571|
##
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|ECONCILIATION
OF NET (EXPE
OPERATING ACTIVITIES|NDITURE)I INCOME TO N|ET CASH FLOW FROII||
|---|---|---|---|
|||2021|2020|
|||E||
|Net income for the reporting
period||1,827|23,508|
|Depreciation
charges||285,383|253,982|
|Dividends,
interest and rents from|investments|(6,904)||
|(Increase)
/ decrease
in stock||(2,105)|(3,255)|
|(Increase)
/ decrease
in debtors
Increase
/ (decrease)
in creditors||173,510
195,944|(155,766)
~240,059|
|Net cash provided
by operating|activities|647,655|(121,590)|
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