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|||Page|
|---|---|---|
|Company
information|||
|Directors'
report|||
|Independent
auditors'|report|18|
|Statement offinancial|activities|21|
|Balance sheet||22|
|Cash flow statement||23|
|Notes to the accounts||24|
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|Insurance
Brokers|
|---|
|Land Agents|
|Cooper Parry|Group|Group|Limited|Limited|Limited|
|---|---|---|---|---|---|
|Sky View||||||
|Argosy Road||||||
|East Midlands|Airport|||||
|Castle Donnington||||||
|Derby||||||
|DE74 2SA||||||
|National
Westminster||||Bank Pic||
|13The Borough||||||
|Hinckley||||||
|Leicesters hire||||||
|LE10 1NW||||||
|Pattersons
Commercial||||Law||
|2 Pear Tree Business||||Park||
|Desford Lane||||||
|Ratby||||||
|Leicesters hire||||||
|LE6 OPG||||||
|Veale Wasbrough||Vizards|||LLP|
|Narrow
Quay House||||||
|Narrow Quay||||||
|Bristol||||||
|BS14QA||||||
|Broomfields||||||
|Minerva
House||||||
|7 StJohn's Business|||Park|||
|Rugby Road||||||
|Lutterworth||||||
|Leicestershire||||||
|LE174HB||||||
|Turner Insurance||Group||||
|34-36 Princess|Road||West|||
|Leicester||||||
|LE1 6TQ||||||
|Fisher German|LLP|||||
|The Estates Office||||||
|Norman
Court||||||
|Ivanhoe Business||Park||||
|Ashby de la Zouch||||||
|LE65 2UZ||||||
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||||Notes|Unrestricted|Restricted|2022|2021|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|||
||||||f.|||
|Income from:||||||||
|Charitable
activities||||||||
|School fees receivable|||2|5,028,777||5,028,777|4,678,118|
|Ancillary
trading
income|||3|408,562||408,562|245,027|
|Other trading
activities||||||||
|Non-ancillary
trading
income||||15,970||15,970|6,451|
|Other activities||||3,192||3,192|7,868|
|Investments||||||||
|Bank and other interest||||7,054||7,054|6,904|
|Donations
and legacies||||||||
|Grants and donations||||2,418|2,003|4,421|32,884|
|Other incoming
resources||||||||
|Government
grants receivable-||||||||
|Coronavirus
Job Retention|Scheme|||2,844||2,844|13,310|
|Insurance
claim||||1,996||1,996|184,917|
|TOTAL INCOMING RESOURCES||||5,470,813|2,003|5,472,816|5,175,479|
|Expenditure
on:||||||||
|Raising funds||||||||
|Financing
costs||||41,221||41,221|18,639|
|Fundraising
and development||||355||355|622|
|Charitable
Activities||||||||
|Education
and grant making|||7|5,683,606|60,000|5,743,606|5,154,391|
|TOTAL EXPENDITURE||||5,725,182|60,000|5,785,182|5,173,652|
|NET (EXPENDITURE)/INCOME
transfers||before||(254,369)|(57,997)|(312,366)|1,827|
|Transfers
between
funds|||19|||||
|NET (EXPENDITURE) I INCOME
transfers||after||(254,369)|(57,997)|(312,366)|1,827|
|Fund balances at 1 September 2021||||1,587,531|852,453|2,439,984|2,438,157|
|FUND BALANCES AS AT 31 AUGUST|||2022|1,333,162|794,456|2,127,618|2,439,984|
||Note|||||
|---|---|---|---|---|---|
||||2022||2021|
||||||F|
|FIXEDASSETS||||||
|Tangible assets|13||3,176,994||3,289,785|
|CURRENT ASSETS||||||
|Stock||8,994||7,360||
|Debtors|14|272,950||135,390||
|Cash at bank and
in hand||1,181,248||1,465,673||
|||1,463,192||1,608,423||
|CREDITORS: amounts||||||
|falling due within one year|15|~1488387||1 186618||
|NET CURRENT
(LIABILITIES)/ASSETS|||(5,195)||421,805|
|TOTAL ASSETS LESS||||||
|CURRENT LIABILITIES|||3,171,799||3,711,590|
|CREDITORS: amounts||||||
|falling due after one year|16||(1,044,181)||(1,271,606)|
|TOTAL NET ASSETS|||271277618||2,439,984|
|REPRESENTED BY:||||||
|RESTRICTED FUNDS|19||794,456||852,453|
|UNRESTRICTED FUNDS|19||1,333,162||1,587,531|
||||2,127,618||2,439,984|
|||||||||2022||2021|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Note||E|||
|Cash flows from operating||activities:|||||||||
|Net cash|provided by operating
activities|||||23||81,707||647,655|
|Cash flows from investing||activities:|||||||||
|Dividends,|interest and rents|from investments||||5||7,054||6904|
|Purchase|of property,
plant and||equipment|||13|(171„618)||(199,053)||
|Sale of property,
plant and equipment|||||||||||
|Net cash|usedin investing|activities|||||(164,564)||(192,149)||
|Cash flows from financing||activities:|||||||||
|New bank|loans||||||||||
|Repayments
of borrowing|||||||~201,666||~233,126||
|Net cash|(used)lgeneratedin||financing|activities|||(201,568)||(233,126)||
|Changein|cash and cash equivalents|||in the|||(284,425)|||222,380|
|reporting|period||||||||||
|Cash and|cash equivalents|at|the beginning||ofthe||1,465,673||1,243,293||
|reporting|period||||||||||
|Cash and|cash equivalents|at|the end|ofthe|||||||
|reporting|period||||||1,181,248||1,465,673||
|Cash and|cash equivalents|consist of:|||||||||
|Cash at bank and
in hand|||||||1,181,248||1,465,673||
|Analysis
ofchanges
in net debt|||||||||||
|||||At|1August||Cashflows|Other||At 31|
||||||2021|||changes||August|
|||||||||||2022|
|||||||||||E|
|Cash at bank and in hand|||||1,465,673||(284„425)|||1,181„248|
|Debt due & 1 year|||||(222,035)||(201,568)|195,895||(227,708)|
|Debt due & 1 year||||(1,104,982)||||207,241||(897,741)|
||||||138,656||(485,993)|403,136||55,799|
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|Tangible fixed assets|are st|are st|ated a|t cost less depreciation.|t cost less depreciation.||||||
|---|---|---|---|---|---|---|---|---|---|---|
|The depreciation
on|such||assets|is charged
in the statement||of financial||activities|over|the|
|expected
useful economic|||life of|the related asset on a basis||consistent|with the depreciation||||
|policy.|||||||||||
|Depreciation
is provided||at|rates|calculated
to write off the cost over its|||expected||useful|life,|
|as follows:|||||||||||
|Freehold
land||||- Not depreciated|||||||
|Playing fields drainage
Playing
fields garage store||||-4%-25% per annum
on cost
-4% per annum
on cost|||||||
|Freehold
buildings|||||||||||
|permanent||||-4% per annum|on cost||||||
|temporary||||-25% per annum|on|cost|||||
|Leasehold
improvements||||- Over period of|the lease||||||
|Furniture
and equipment||||- 10%-20% per|annum
on cost||||||
|Plant and equipment||||- 10%per annum|on|cost|||||
|Books and teaching|equipment|||-20% per annum|on|cost|||||
|Motor vehicles||||-25% per annum|on|cost|||||
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##
||||2022|2021|
|---|---|---|---|---|
||||E||
|The school fees income comprises:|||||
|Gross fees|||5,637,631|5,259,465|
|Less: scholarships,|bursaries,|etc|(608,854)|(581,347)|
||||5,028,777|4,678,118|
##
|CHARIT|ABLE|ACTIVITIES|—ANCILLARY TRADING|INCOME||
|---|---|---|---|---|---|
|||||2022|2021|
||||||E|
|Extras||||296,717|169,955|
|Entrance|fees|and registration|fees|17,414|10,652|
|Summer|play|scheme||39,618|29,200|
|Commissions||and other income||54,813|35,220|
|||||408,562|245,027|
##
||||2022|2021|
|---|---|---|---|---|
|||||E|
|Non-ancillary|trading|income|||
|Lettings and|hire||15,970|6,451|
||||15,970|6,451|
|Other activities|||||
|Interest on overdue fees|||1,024|514|
|Other|||2,168|7,354|
||||3,192|7,868|
##
##
|||2022|2021|
|---|---|---|---|
|||F|E|
|Bank|interest|7,054|6,094|
|||7,054|6,094|
##
|||Unrestricted|Restricted|2022|2021|
|---|---|---|---|---|---|
||||E||E|
|Other|donations|2,418|2,003|4,421|32,884|
|||2,418|2,003|4,421|32,884|
##
##
|a)
Total expenditure||||||
|---|---|---|---|---|---|
||Staff costs|Depreciation|Support|Total|Total|
||(note 10)|(note 13)|Costs|2022|2021|
|||E||||
|Costs of raising funds||||||
|Financing cost (note 9)
Fundraising
and|||41,221
355|41,221
355|18,369
622|
|development||||||
|Total cost ofgenerating
funds|||41,576|41,576|19,261|
|Charitable
expenditure||||||
|Teaching
Welfare|3,275,175||128,168
29,220|3,403,343
29,220|3,195,711
27,390|
|Premises|184,222|172,538|334,823|691,583|642,698|
|School administration|726,140|111,871|761,577|1,599,588|1,276,054|
|and governance||||||
|Grants awards
and|||19,872|19,872|12,538|
|prizes||||||
|Total charitable
expenditure|4,185,537|284,409|1,273,660|5,743„606|5,154,391|
|Total Expenditure|4,185,537|284,409|1,315,236|5,785,182|5,173,652|
##
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##
|||||2022f|2021|
|---|---|---|---|---|---|
|Net (outgoing)/incoming||resources|is stated after charging:|||
|Auditor's
remuneration||||11,000|11,000|
|Depreciation||||284,409|285,383|
|Operating
leases —land||and buildings||87,405|82,600|
|Operating
leases —other||||9,507|12,484|
|FINANCING|COSTS|||||
|||||2022|2021|
|||||E|F|
|Bad debts||||7||
|Bank interest||||40,863|18,288|
|Lease finance|costs|||351|351|
|||||41,221|18,639|
|STAFF COSTS||||||
|||||2022|2021|
|||||E|E|
|The aggregate|payroll costs for the||year were:|||
|Wages and salaries||||3,277,57|2,980,3|
|||||7|71|
|Social security|costs|||330,708|281,830|
|Other pension|costs|||577„252|511,628|
|||||4,185,53|3,773,8|
|||||7|29|
##
||||||4|,185,53
7|3,773,8
29|
|---|---|---|---|---|---|---|---|
|None
of|the governors
received
remuneration||or other|benefits|from|the Leicestershire|Independent|
|Educational
Trust or||from any connected
body.||||||
|Aggregate|employee|benefits of key management|personnel|||680,694|641,914|
|Number of|employees|classed as key management|personnel|||||
##
|The number|of higher|paid|employees|employees|whose annual|whose annual|emoluments|||
|---|---|---|---|---|---|---|---|---|---|
|(excluding
pensions) were|||f60,000|or more was:||||||
|||||||||2022|2021|
|||||||||No|No|
|F60,000 - 270,000||||||||||
|2101,000 - F110,000||||||||||
|The number|with retirement||benefits||accruing:|||||
|—in defined|benefit schemes was|||||||||
|ofwhich the|contributions
amounted||||to|||640,172|f39,887|
|The average|number ofemployees|||during||the year was:||||
|||||||||2022|2021|
|||||||||No|No|
|Teaching||||||||64|60|
|Office and non-teaching||||||||44|45|
|||||||||108|105|
##
##
##
##
||Freehold|Leasehold|Furniture
&|Books 8|Plant 8||
|---|---|---|---|---|---|---|
||Land 8|Land 8|Office|Teaching|Motor||
||Buildings|Buildings|Equipment|Equipment
F|Vehicles
E|Totalf|
|Cost|||||||
|At 1 September 2021|3,746,461|850,365|515,473|189,230|101,327|5,402,856|
|Additions|10,876|132,408|25,753|2,581||171,618|
|Disposals|||||||
|At 31August 2022|3,757,337|982,773|541,226|191,811|101,327|5,574,474|
|Depreciation|||||||
|At 1 September 2021|1,136,431|489,991|254,780|158,250|73,619|2,113,071|
|Charge for the year|136,019|49,278|69,918|17,986|11,208|284,409|
|Disposals|||||||
|At 31August 2022|1 272 450|539,269|324,698|176,236|84,827|2,397,480|
|Net book value at 31|||||||
|August 2022|2,484,887|443,504|216,528|15,575|16,500|3,176,994|
|Net book value at|||||||
|31 August 2021|2,610,030|360,374|260,693|30,980|27,708|3,289,785|
##
|||2022|2021|
|---|---|---|---|
|Trade debtors||62,720|44,607|
|Other debtors||20,414|4,442|
|Prepayments|and accrued income|189,816|86,341|
|||272,950|135,390|
##
##
##
|||||2022|2021|
|---|---|---|---|---|---|
||||||E|
|Bank loans and||overdrafts||227,708|222,035|
|Net obligations||under finance||845|3,382|
|leases||||||
|Trade creditors||||269,933|86,855|
|Taxation and social security||||83,600|76,237|
|Other creditors||||185,433|194,960|
|Fees in advance||scheme||39,828|27,917|
|Fees received|from parents||in|574,158|447,500|
|advance ofterm||||||
|Accruals||||49,667|102,584|
|Deposits from|parents|||37,215|25,148|
|||||1,468,387|1,186,618|
##
|CREDITORS: amounts
falling due after one year|||
|---|---|---|
||2022|2021|
|Bank loans|897,741|1,104,982|
|Deposits from parents|146,440|147,382|
|Net obligations
under finance leases||845|
|Fees in advance scheme||18,397|
##
|||||2022|2021|
|---|---|---|---|---|---|
|||||E||
|The|bank|loans are repayable|in instalments:|||
|Due|after|5years||225,623|276,977|
|Due|within|2 to 5 years||444,410|605,970|
|Due|within|1 to 2 years||227,708|222,035|
|Due|after|more than one year||897,741|1,104,982|
|Due|within|1 year||227,708|222,035|
|||||1,125,449|1,327,017|
##
|Parents|and others may enter into|and others may enter into|and others may enter into|and others may enter into|a contract to|a contract to|pay for fixed contributions|pay for fixed contributions|pay for fixed contributions|towards|towards|pupil tuition fees|pupil tuition fees|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|for a number
ofyears|||in advance.||Contributions||may be returned|subject||to specific conditions
on||||
|the receipt of notice.|||Assuming||pupils|remain|in the school, fees||in advance||will be applied
as|||
|follows:||||||||||||||
||||||||||||2022||2021|
|||||||||||||E|E|
|Within 2||to 5years||||||||||||
|Within
1||to 2 years|||||||||||18,397|
||||||||||||||18,397|
|Within
1||year||||||||39,828|||27,917|
|||||||||||39,828|||46,314|
|Summary||ofmovements||in liability||||||||||
|Balance|at 1 September 2021||||||||||||46„314|
|New contracts|||||||||||||21,431|
|Amounts||used to pay|fees||||||||||(27,917)|
|Balance||at 31August|2022||||||||||39,828|
##
|RESTRICTED FUNDS|RESTRICTED FUNDS|||||At|
|---|---|---|---|---|---|---|
|||1 Septemb~|Incom|Outgoi|Trans|31August|
|||202|resoun|resourc||2022|
|Bursary Fund||2,886||||2,886|
|The Bernard|Heathcote|843,067|2,003|(60,000)||785,070|
|Foundation|||||||
|Station Road|Development|6,400||||6,400|
|Staff welfare|fund|100
852,453|2,003|~60,000||100
794,456|
|RESTRICTED FUNDS||||||At|
|PREVIOUS YEAR||1 Septemb&|Incomi|Outgoi|Trans|31August|
|||202|resoun|resourc||2021|
|Bursary Fund||2,886||||2,886|
|The Bernard|Heathcote|879,277||(60,300)|24,090|843,067|
|Foundation|||||||
|Station Road|Development|6,400||||6,400|
|Staff welfare|fund|100
888,663||~60,300|24,090|100
852,453|
##
|UNRESTRICTED|UNRESTRICTED|At||||A|
|---|---|---|---|---|---|---|
|FUNDS||1 September|Incoming|Outgoii||31Augus|
|||2021|resources|resource|Transfer|202:|
|||E|||F||
|General||1,550,507|5,470,813|(5,725,182)||1,296,138|
|Designated|Funds||||||
|Myra Pedley|Fund|20,645||||20,645|
|Sports Facility Fund||16,379||||16,379|
|||1,587,531|5,470,813|5,725,182||1,333,162|
|UNRESTRICTED||At||||A|
|FUNDS||1 September|Incoming|Outgoi&||31Augus|
|||2020
E|resources
E|resource|Transferf|202'|
|General||1,512,470|5,175,479|(5,113,352)|(24,090)|1„550,507|
|Designated|Funds||||||
|Myra Pedley|Fund|20,645||||20,645|
|Sports Facility Fund||16,379||||16,379|
|||1,549,494|5,175,479|||1,587,531|
##
##
|20. ANA|L|YSIS OF NET ASSETS BET|WEEN FUNDS|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|2022|
|||||E||
|Tangible|fixed assets||3,176,994||3,176,994|
|lnterfund|loan||(794,456)|794,456||
|Net current||liabilities|(5,195)||(5,195)|
|Long term||liabilities|(1,044,181)||(1,044,181)|
||||1,333,162|794,456|2,127,618|
##
|20. ANALYSIS OF NET ASSETS BET|WEEN FUNDS —PRIOR YEAR|||
|---|---|---|---|
||Unrestricted|Restricted|2020|
||F|E|F|
|Tangible fixed assets|3,289,875||3,289,875|
|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|
##
|31 August
2022 the
charitab
ating
leases as follows|le
company
has
total
mi|nimum
lease
pa|yments
under
non-ca|ncellable|
|---|---|---|---|---|
||Land and buildings||Other||
||2022|2021|2022|2021|
|||E|||
|Expiry date:|||||
|Within
1 year|87,905|63,500|11,308|10,368|
|Between 2 and 5 years|274,716|249,500|13,254|10,375|
|After 5 years|45,100|54,500|||
||407,721|367,500|24,563|20,743|
##
##
|||||2022|2021|
|---|---|---|---|---|---|
||||||F|
|Net income|for the reporting
period|||(312,366)|1,827|
|Depreciation|charges|||284,409|285,383|
|Dividends,|interest and rents from||investments|(7,054)|(6,904)|
|(Increase)
/|decrease|in stock||(1,634)|(2,105)|
|(Increase)
/|decrease|in debtors||(137,560)|173,510|
|increase
/ (decrease)||in creditors||255,912|195,944|
|Net cash provided by operating|||activities|81,707|647,655|
##
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##
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##