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|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|
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7th December 2020
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11th December 2020
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||||||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
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||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||||||
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|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)|
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|.
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|
##
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|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|
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|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)|
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||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|
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||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|
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|||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|