2020-08-31-accounts

Directors and Advisors for the Year Ended 3 1 August 2020	1
Governors	1
Advisors	2
Reference and Administrative Information	3
Structure. Governance and Management	3
Objects. Aims. Objectives and Activities	5
Strategic Report	7
Overview	7
Achievements and Performance	7
Fundraising Performance	8
Financial Review	9
Principal Risks and Uncertainties	10
Plans for the Future	11
Statement of Accounting and Reporting Responsibilities	12
Independent Auditor’s Report to the Members ofQueen Margaret’s School! York Limited	13
Statement ofFinancial Activities for the Year Ended 31 August 2020	16
Balance Sheet as at 31 August 2020	L7
Cash Flow Statement for the Year Ended 31 August 2020	IS
Notes to the Cash Flow Statement for the Year Ended 31 August 2020	19
Accounting Policies	20
Notes to the Financial Statements for the Year Ended 31 August 2020	23

7th December 2020

11th December 2020

					2020	2019
		Unrestricted	Designated	Restricted
		funds	funds	funds	Total	Total
		£000	F000	£000	£‘OOO	£000
Income from:
Charitable activities
School fees	I	6,188			6,188	6,845
Ancillary trading income	9	619			619	770
CJRS grant	2	532	-	-	532	-
Othertrading activities
Non-ancillary trading income	2	11	-	-	11	20
Investmentincome	2	-	9	2	11	11
Donationsandlegacies		35	-	5	40	47
Total incomingresources		7,385	9	7	7,401	7,693
Expenditure on:
Costsofgeneratingfunds
Costs ofgenerating funds	5	106	-	-	106	103
		106	-	-	106	103
Charitable activities
Education and grant making	5	7,593	-	-	7,593	7,631
		7,593	-	-	7,593	7,631
Total expenditure	S	7,699	-	-	7,699	7,734
Netincoming/(outgoing)	3	(314)	9	7	(298)	(41)
resources
Transfers between funds	16	-	-	-	-	-
Fund balances at 31 August 2019		5,097	314	134	5,545	5,586
Fund balances at 31 August2020	16	4,783	323	141	5,247	5,545

7th December 2020

	Note	2020	2020	2019	2019
		£000	£000	£000	£000
Net cash (outflow)/inflow from	A		(242)		779
operations
Cash flow from investing activities
Interestreceived		11		11
Interest paid		(91)		(97)
Payment for tangible fixed assets		(374)		(469]
Netcash used in investing activities			(454)		(555)
Cash flow from financingactivities
Advance lees scheme:
Receipts from new contracts		-		43
Amounts utilised and repaid		(156)		(180)
Finance lease contracts:
Amounts repaid		(5)		(5)
Bank facility (repaid]/ utilised		862		(80)
Net cash used byfinancingactivities			701		(222)
Change in cash and cash equivalents in
the reporting period			5		2
Cash and cash equivalents at the			7		5
beginning of the period
Cash and cash equivalents at the end	B		12		7
ofthe period

A Reconciliation ofnetincome to net cash	flowfrom operating	activities
		2020	2019
		£000	£000
Netoutgoing resources		(298)	(41)
Interest receivabte		(11)	( I)
Financing costs		91	97
Depreciationcharges		414	392
Decrease in stocks		9	3
Decrease in debtors		137	113
(Decrease) / Increase in creditors		(584)	226
Netcash (outflow)/ inflow from operations		(242)	779
B Analysis ofcash and cash equivalents
		2020	2019
		£000	£000
Cash at bankand in hand		12	7
C Reconciliationofnetdebt
	At 1 September		At 31 August
	2019	Cash flow	2020
	£000	£‘ooO	£000
Cash in hand, at bank	7	5	12
Bank overdraft	(40)	(949)	(989)
Bank loan <1 year	(84)	(9)	(93)
Bank loan> 1 year	(1,282)	96	(1,186)
	(1,399)	(857)	(2,256)

. School Fees he Schools fee income comprised:
	2020	2019
	Unrestricted	Unrestricted
	£‘OOO	£000
Gross fees (net ofcharge for bad debts)	6,810	7,598
Less: total bursaries, grants and allowances	(622)	(753)
Add: Scholarships, grants and bursaries paid for by restricted funds
	6,188	6,845

2. OtherIncome
	2020	2019
	Unrestricted	Unrestricted
	£‘OOO	£000
From charitable activities
Extra subjects, trips and activities, fees in lieu and other extras	467	588
Use offacilities, registration fees and other miscellaneous activities	152	182
CJRS grant	532
	1,151	770
Othertradingactivities
Lettings and other income	11	20
Investmentincomes
Transfer from unrestricted funds	11	it
	11	11
3. Net Outgoing Resources
Net outgoing resources are stated after charging:
	2020	2019
	£‘OOO	£000
Fixed assets
Depreciation	414	392
Auditors’ remuneration
For audit services	15	15
Operating lease charges
Land and buildings and motorvehicles	120	114
Interest paid
Bank interest	50	54
Transfer to restricted funds	11	11

QueenMargaret’s School, York Limited (A Company Limited byGuarantee) 4. StaffCosts
	2020	2019
	£‘OOO	£000
The aggregate payroll costs forthe year were as follows:
Wages and salaries	4,188	4,138
Social security costs	375	384
Pension contributions	641	479
	5,204	5,001
Aggregate employee benefits olkey management personnel
(including employer pension and national insurance costs)	404	323

The average Full time equivalent number ofemployees at the School was:	2020	2019
	Number	Number
Teaching	57	55
Welfare	54	54
Premises	11	11
Support	16	16
	138	136

		2020	2019
		Number	Number
£90,001	-£100,000	1
£80,001	-£90,000	-
£70,001	-£80,000	2	1
£60,001	-£70,000	1	3

Analysis ofExpenditure
				2020
	Staff	Other	Depreciation	Total
	£‘OOO	£‘OOO	E’OOO	£‘OOO
Charitableactivities
Teaching	2,877	125	69	3,071
Welfare	1,380	350	-	1,730
Premises	321	879	345	1,545
Support costs and governance	624	623	-	1,247
Grants, awards and prizes
Costs ofgenerating funds	5,202	1,977	414	7,593
Financing costs - interest payable		91	-	91
Development costs		15	-	15
Total expended	5,202	2,083	414	7,699

					2019
		Staff	Other	Depreciation	Total
		£‘OOO	£‘OOO	£‘OOO	£,000
Charitableactivities
Teaching		2,650	207	60	2,917
Welfare		1,433	522	-	1,955
Premises		302	834	332	1,468
Support costs and governance		616	675	-	1,291
Grants) awards	and prizes
		5,001	2,238	392	7,631
Costs ofgenerating funds
Financing costs	- interest payable		97		97
Development costs			6		6
Total expended		5,001	2,341	392	7,734

		2020	2019
		£000	£‘OOO
Auditors’ remuneration	- auditservices	15	15
Legal and professional fees, Governors’ trainingand expenses		1	7
		16	22

Tangible Fixed Assets
				Plant,
			Fixtures	equipment
	Freehold		and	and motor
	buildings	IT	fittings	vehicles	Total
	£‘OOO	£‘OOO	£‘OOO	£‘OOO	£000
Cost or frozen* valuation
1 September 2019	13,559	665	5,639	348	20,211
Additions	126	171	65	12	374
31 August2020	13,685	836	5,704	360	20,585
Depreciation
1 September2019	4,772	439	4,909	184	10,304
Charge for theyear	181	69	128	36	414
31 August2020	4,953	508	5,037	220	10,718
Netbookvalues
31 August2020	8,732	328	667	140	9,867
31 August 2019	8,787	226	730	164	9,907

Debtors
	2020	2019
	£000	£000
School fees and extras	125	201
Other debtors	10	50
Prepayments	116	136
	251	387

		2020	2019
		£000	£‘OOO
Fees received in	advance	906	1,807
Trade creditors		354	187
Taxation and social security		189	87
Final term deposits		817	775
Accruals		121	163
Other creditors		66	18
Finance lease (note 15)		4	6
Bankoverdraft facility (note 12)		989	40
Hank oan (note 12)		93	84
Deferred Income	- advance fees scheme	69	156
(note 13)
		3,608	3,323

		2020	2019
		£‘OOO	£000
Bank loans (note	12]	1,187	1,282
Finance lease (note 15)		-	3
Deferred Income	— advance fees scheme (note 13)	125	194
		1,312	1,479

CompanyLimited byGuarantee) . Bank Loans and Overdraft e bank loan is due to be repaid as follows:
	2020	2019
	£‘OOO	£000
Within 1 year (note 10)	93	84
Within 1 to 5 years	375	446
Over 5 years	812	836
	1,280	1366

	2020	2019
	£‘OOO	£‘OOO
Within 1 year (note 10)	69	156
Between land 5 years (note 11)	125	194
	194	350

	2020	2019
	£‘OOO	£000
Balance at 1 September 2019	350	487
New contracts	-	43
Paymentoffees to the School	(156)	(180)
Balance at31 August2020	194	350

ueen Margaret’sSchool,York Limited Company Limited byGuarantee) . Financial Instruments
	2020	2019
	£‘OOO	£000
Financial assets measured at arnortised cost (a)	146	258
Financial assets measured at fairvalue	0	0
Financial liabilities measured atamortised cost (b)	(3,818)	(2645)
Net financial assets measured atamortised cost	(3,672)	(2387)

	2020	2019
	£‘OOO	£000
Within oneyear	114	120
Within two to fiveyears	173	274
After fiveyears	2	28
	289	422

ws:
		2020	2019
		£‘OoO	£000
Within	oneyear	4	6
Within	two to five years		3
		4	9

	Balance at				Balance at
	31 August	Incoming	Resources	Gains, Losses	31 August
	2019	Resources	Expended	and Transfers	2020
	£000	£‘OOO	£000	£000	£000
Restricted funds
Bursary Funds	121	2			123
Other restricted funds	13	5			18
Total restricted funds	134	7			141
Unrestricted funds
General:
Accumulation fund	5,097	7,385	(7,699)	-	4,783
Desiqnated:
Janet Churm Bursary Fund	314	9	-	-	323
Total unrestricted funds	5,411	7,394	(7,699)	-	5,106
Total funds	5,545	7,401	(7,699)	-	5,247

	Balanceat				Balanceat
	31 August	Incoming	Resources	Gains, Losses	31 August
	2018	Resources	Expended	andTransfers	2019
	£000	£000	£000	£000	£‘OOO
Restricted funds
Bursary Funds	94	18		9	121
Other restricted funds	16	30	(3)	(30)	13
Total restricted funds	110	48	(3)	(21)	134
Unrestricted funds
General:
Accumulation fund	5,170	7,637	(7,731)	21	5,097
Designated.’
Janet Churm Bursary Fund	306	8	-	-	314
Total unrestricted funds	5,476	7,645	(7,731)	21	5,411
Total funds	5,586	7,693	(7,734)	-	5,545

		Netcurrent	Long term	Total
	Fixed assets	assets/(liabilities)	liabilities	2020
	£‘OOO	£‘OOO	£‘OOO	£‘OOO
Restricted funds	.	141	-	141
Unrestricted funds	9,867	(3,449)	(1,312)	5,106
	9,867	(3,308)	(1,312)	5,247
	Fixed assets	Netcurrent	Long term	Total
	£‘OOO	assets/(liabilities)	liabilities	2019
		£‘OOO	t’OOO	£‘OOO
Restricted funds	-	134	-	134
Unrestricted funds	9,907	(3,017)	(1,479)	5,411
	9,907	(2,883)	(1,479)	5,545

		Unrestricted	Designated	Restricted
		funds	funds	funds	Total
		£000	£‘OOO	£‘OOO	£000
Income from:
Charitable activities
School lees	1	6,845			6,845
Ancillary trading income	2	770			770
Othertradingactivities
Non-ancillarytrading income	2	20	-		20
Investmentincome	2	-	8	3	11
Donations andlegacies		2	-	45	47
Total incomingresources		7,637	8	48	7,693
Expenditure on:
Costs ofgeneratingfunds
Costs olgenerating hinds	5	100		3	103
		100	-	3	103
Charitable activities
Education and grant making	S	7,631	-	-	7,631
		7,631	-	-	7,631
Total expenditure	S	7,731	-	3	7,734
Netincoming/(outgoing)	3	(94)	8	45	(41)
resources
Transfers between funds	15	21	-	(21)	-
Fund balances at 31 August 2018		5170	306	110	5,586
Fund balances at 31 August2019	15	5,097	314	134	5,545