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|Directors and Advisors for the Year Ended 31August 2021.|||
|---|---|---|
|Reference and Administrative
Information.||, ,...3|
|Structure,
Governance
and Management
.|||
|Objects, Aims, Objectives and Activities.||.6|
|Strategic Report.|||
|Overview ofthe year||,.„„8|
|Achievements
and Performance|||
|Fundraising
Performance|||
|Financial Review. ..„.„,....,|||
|Principal
Risks and Uncertainties.||12|
|Plans for the Future.
.||„**.**14|
|Statement ofAccounting
and Reporting
Responsibilities|||
|Independent
Auditor's
Report to the Members ofQueen Margaret's|School, York Limited ...|.....16|
|Statement of Financial Activities for the Year Ended 31August 2021||20|
|Balance Sheet as at 31August 2021||21|
|Cash Flow Statement for the Year Ended 31August 2021..................|.........,......... ... ... ...|.... 22|
|Notes to the Cash Flow Statement for the Year Ended 31August 2021.||23|
|Accounting
Policies.||... 24|
|Notes to the Financial Statements
for the Year Ended 31August 2021||28|
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|||||||2021|2020|
|---|---|---|---|---|---|---|---|
||||Unrestricted|Designated|Restricted|||
||||funds|funds|funds|Total|Total|
||||K'000|E'000|E'000|f'000|E'000|
|Income from:||||||||
|Charitable
activities||||||||
|School fees|||5,554|||5,554|6,188|
|Ancillary
trading income|||620|||620|619|
|CIRSgrant||||||533|532|
|Other trading activities||||||||
|Non-ancillary
trading|income|||||||
|investment
income||||10||15||
|Donations and legacies||||||24|40|
|Totai incoming resources|||6,737|10|2|6,749|7,401|
|Expenditure
on:||||||||
|Costs ofgenerating|funds|||||||
|Costs ofgenerating
funds|||122|||122|106|
||||122|||122|106|
|Charitable
activities||||||||
|Education and grant|making||7,523|||7,523|7,593|
||||7,523|||7,523|7,593|
|Total expenditure|||7,645|||7,645|7,699|
|Net incoming/(outgoing)|||(908)|10|2|(896)|(298)|
|resources||||||||
|Transfers between
funds||16||||||
|Fund balances at 31|August 2020||4,783||141|5,247|5,545|
|Fund balances at 31August 2021||16|3,875||143|4,351|5,247|
||||Note|2021|2020|
|---|---|---|---|---|---|
|||||K'000|f'000|
|Fixed assets||||||
|Tangible assets||||9,582|9,867|
|||||9,582|9,867|
|Current assets||||||
|Stocks||||||
|Debtors||||383|251|
|Cash at bank|and in hand||||12|
|||||436|300|
|Creditors - amounts||falling due within one year|10|(4,002)|(3,608)|
|Net current|liabilities|||(3,566)|(3,308)|
|Total assets|less current liabilities|||6,016|6,559|
|Creditors —amounts||falling due after more than one year|11|(1,665)|(1,312)|
|Net assets||||4,351|5,247|
|Restricted funds|||16|143|141|
|Unrestricted|funds|||4,208|5,106|
|Total Funds||||4,351|5,247|
##
|||Nate|2021|2021|2020|2020|
|---|---|---|---|---|---|---|
||||K'000|f'000|f'000|E'000|
|Net cash (outflow) from operations||A||(570)||(242)|
|Cash flow from investing|activities||||||
|interest received|||||||
|Interest paid|||(119)||(91)||
|Payment for tangible
fixed|assets||(153)||(374)||
|Net cash used in investing|activities|||(257)||(454)|
|Cash flow from financing|activities||||||
|Advance fees scheme:|||||||
|Amounts
utilised
and repaid|||(125)||(156)||
|Finance lease contracts:|||||||
|Amounts
repaid|||(4)||(5)||
|8ank facility (repaid) / utilised|||||862||
|Net cash used by financing|activities|||819||701|
|Change
in cash and cash equivalents|||||||
|in the reporting
period||||(8)|||
|Cash and cash equivalents|at the|||12|||
|beginning
ofthe period|||||||
|Cash and cash equivalents|at the end|8|||||
|ofthe period|||||||
##
##
|A Reconciliation ofnet|income to net cash flow from ope|rating
activities||
|---|---|---|---|
|||2021|2020|
|||E'000|f'000|
|Net outgoing
resources||(896)|(298)|
|Interest receivable||(15)||
|Financing costs||||
|Depreciation
charges||438||
|(Increase) / Decrease|in stocks|(12)||
|(Increase) / Decrease|in debtors|(132)|137|
|(Decrease) in creditors||(72)|(584)|
|Net cash (outflow) from operations||(570)|(242)|
|BAnalysis ofcash and|cash equivalents|||
|2021|2020|
|---|---|
|E'000|E'000|
|Reco|nciliation ofnet debt||||
|---|---|---|---|---|
|||At 1|||
|||September||At31August|
|||2020|Cashflow|2021|
|||E'000|E'000|f'000|
|Cash|in hand, at bank|12|||
|Bank|overdraft|(989)|467|(1,456)|
|Bank|loan &1year|(93)||(130)|
|Bank|ioan &1year|(1,186)||(1,630)|
|||(2,256)|956|(3,212)|
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##
||||||2021|2020|
|---|---|---|---|---|---|---|
||||||Unrestricted|Unrestricted|
||||||E'000|6'000|
|Gross fees (net ofcharge|||for bad debtsj||6,210|6,810|
|Less:total bursaries,||grants and allowances|||(656)|(622)|
||||||5,554|6,188|
|Scholarships,
bursaries||and|other awards were made to 69(2020:||72) pupils.
Within this means||
|tested bursaries
totalling E484,000were awarded||||to 28 pupils (2020:f458,000to 32 pupils),|||
|2.
Other Income|||||||
||||||2021|2020|
||||||Unrestricted|Unrestricted|
||||||K'000|E'000|
|From charitable
activities|||||||
|Extra subjects, trips and activities, fees in lieu and||||other extras|427|467|
|Use offacilities, registration|||fees and other miscellaneous||193|152|
|QRSgrant|||||533|532|
||||||1,153|1,151|
|Other trading activities|||||||
|Lettings and other income|||||||
|Investment
incomes|||||||
|Transfer from unrestricted|||funds||12||
|interest receivable|||||||
||||||15||
|3.
Net Outgoing|Resources||||||
|Net outgoing resources||are|stated after charging:||||
||||||2021|2020|
||||||K'000|E'000|
|Fixed assets|||||||
|Depreciation|||||438|414|
|Auditors'
remuneration|||||||
|For audit services|||||16||
|Operatinz
lease charities|||||||
|Land and buildings
and||motor vehicles|||116|120|
|interest paid|||||||
|Bank interest|||||76|50|
|Transfer to restricted|funds||||12||
##
##
|(ACompany
Li
4.
Staff Costs|mited by Guarant|ee)||||
|---|---|---|---|---|---|
|||||2021|2020|
|||||E'000|E'000|
|The aggregate
payroll costs for the year||were as follows:||||
|Wages and salaries||||4,143|4,188|
|Social security costs||||377|375|
|Pension contributions||||653||
|||||5,173|5,204|
|Aggregate
employee|benefits ofkey management||personnel|||
|(including
employer|pension and national|insurance|costs)|381|404|
|The average|full time equivalent|number|ofemployees|at the School|2021|2020|
|---|---|---|---|---|---|---|
||||||Number|Number|
|Teaching|||||55|57|
|Welfare||||||54|
|Premises|||||11||
|Support|||||16||
||||||135|138|
|||2021|2020|
|---|---|---|---|
|||Number|Number|
|E90,001|- E100,000|||
|E80,001|- E90,000|||
|E70,001|- E80,000|||
|E60,001|- E70,000|||
##
||||||||2021|
|---|---|---|---|---|---|---|---|
|||||Staff|Other|Depreciation|Total|
|||||f'000|f'000|f'000|f'000|
|Charitable|activities|||||||
|Teaching||||2,871|94|92|3,057|
|Welfare||||1,442|372||1,814|
|Premises|||||791|346|1,4G1|
|Support costs||and governance||596|655||1,251|
|Grants, awards and|||prizes|||||
|||||5,173|1,912|438|7,523|
|Costs ofgenerating|||funds|||||
|Financing|costs —interest||||119||119|
|payable||||||||
|Development||costs||||||
|Total expended||||5,173|2,034|438|7,645|
||||||||2020|
|---|---|---|---|---|---|---|---|
|||||Staff|Other|Depreciation|Total|
|||||f'000|f'000|f'000|f'GOO|
|Charitable|activities|||||||
|Teaching||||2,877|125|69|3,071|
|Welfare||||1,380|||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||||||||
|Development||costs||||||
|Total expended||||5,202|2,083|414|7,699|
##
|Gov|ernance
Cos|ts included
in Su|pport C|osts:|||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||f'000|f'000|
|Auditors'|remuneration|-audit services|||16||
|Legal and|professional|fees, Governors'|training|and expenses|25||
|||||||16|
##
##
|Tangible Fixed Assets||||||
|---|---|---|---|---|---|
|||||Plant,||
||||Fixtures|equipment||
||Freehold||and|and motor||
||buildings|IT|fittings|vehicles|Total|
||f'000|f'000|f'000|f'000|f'000|
|Cost orfrozen' valuation||||||
|1September 2020|13,685|836|5,704|360|20,585|
|Additions|102|10||||
|31August 2021|13,787|846|5,742|363|20,738|
|Depreciation||||||
|1September 2020|4,953|508|5,037|220|10,718|
|Charge forthe year|183|92|129||438|
|31August 2021|5,136|600|5,166|254|11,156|
|Net book values||||||
|31August 2021|8,651|246|576|109|9,582|
|31August 2020|8,732|328|667|140|9,867|
##
|(A Company
L
9.
Debtors|imited|by Guarantee)|||
|---|---|---|---|---|
||||2021|2020|
||||K'000|E'000|
|School fees and|extras||228|125|
|Other debtors||||10|
|Prepayments||||116|
||||383|251|
|10.
Creditors:|amounts|falling due within one year|||
||||2021|2020|
||||COOO|f'000|
|Fees received
in|advance||985|906|
|Trade creditors|||247|354|
|Taxation and social security|||278|189|
|Final term deposits|||615|817|
|Accruals|||94|121|
|Other creditors|||162|66|
|Finance lease (note 15)|||||
|Bank overdraft facility (note 12)|||1,456||
|Bank loan (note|12)||130|93|
|Deferred Income|—advance fees scheme||||
|(note 13)|||||
||||4,002|3,608|
|11.
Creditors: amounts||falling due after more than one year|||
||||2021|2020|
||||E'000|f'000|
|Bank loans (note|12)||1,631|1,187|
|Deferred Income|—advance fees scheme (note 13)|||125|
||||1,665|1,312|
##
|ueen Margaret's
school, York Limited
Company
limited by Guarantee)
2.
Bank loans and Overdraft
e bank loans are due to be repaid as follows:|||
|---|---|---|
||2021|2020|
||f'000|E'000|
|Within 1year (note 10)|130|93|
|Within 1to 5years|523|375|
|Over 5years|1,109|812|
||1,762|1,280|
##
##
||2021|2020|
|---|---|---|
||f'000|E'000|
|Within 1year (note 10)|||
|Between 1ancl 5years (note 11)||125|
|||194|
||2021|2020|
|---|---|---|
||K'000|E'000|
|Balance at 1September 2020|194|3SO|
|New contracts|||
|Payment offees to the School|(125)|(156)|
|Balance at31August 2021|69|194|
##
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||||f.'000|f'000|
|Financial|assets measured|at|arnortised|cost (a)||243|146|
|Financial|assets measured|at|fair value|||||
|Financial|liabilities measured||at amortised||cost (b)|(4,611)|(3,818)|
|Net financial assets measured at amortised cost||||||(4,368)|(3,672)|
##
##
|ng
leases for land and buildings
and motor vehicl|es which expire as follows:||
|---|---|---|
||2021|2020|
||E'000|E'000|
|Within one year|108|114|
|Within two to five years|184|173|
|After five years|||
||318|289|
##
|as folio|ws.||||
|---|---|---|---|---|
||||2021|2020|
||||f'000|E.'000|
|Within|one|year|||
|Within|two|to five years|||
##
|16.
Statem|e|nt|of Funds|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Balance at|||||Balance at|
|||||31August|Incoming|Resources|Gains, Losses||31August|
|||||2020|Resources|Expended|and|Transfers|2021|
|||||E'000|f'000|K'000||f'000|f'000|
|Restricted funds||||||||||
|Bursary Funds||||123|||||125|
|Other restricted|||funds||||||18|
|Total restricted||funds||141||||||
|Unrestricted|funds|||||||||
|General:||||||||||
|Accumulation||fund||4,783|6,737|7,645|||3,875|
|Designated:||||||||||
|Janet Churm|Bursary Fund|||323|10|||||
|Total unrestricted|||funds|5,106|6,747|7,645|||4,208|
|Total funds||||5,247|6,749|7,645|||4,351|
|||||Balance at||||Balance at|
|---|---|---|---|---|---|---|---|---|
|||||31August|Incoming|Resources|Gains, Losses|31August|
|||||2019|Resources|Expended|and Transfers|2020|
|||||K'000|f'000|E'000|E'000|E'000|
|Restricted funds|||||||||
|Bursary Funds||||121||||123|
|Other restricted||funds||||||18|
|Total restricted||funds||134||||141|
|Unrestricted|funds||||||||
|General:|||||||||
|Accumulation|fund|||5,097|7,385|(7,699)||4,783|
|Designated:|||||||||
|Janet Churm|Bursary Fund|||314||||323|
|Total unrestricted|||funds|5,411|7,394|(7,699)||5,106|
|Total funds||||5,545|7,401|(7,699)||5,247|
##
|e net assets|are held for th|e various funds as foll|ows:|||
|---|---|---|---|---|---|
||||Net current|Long term|Total|
|||Fixed assets|assets/(liabilities)|liabilities|2021|
|||f'000|E'000|f'000|f'000|
|Restricted funds|||143||143|
|Unrestricted|funds|9,582|(3,709)|(1,665)|4,208|
|||9,582|(3,566)|(1,665)|4,351|
||||Net current|Long term|Total|
|||Fixed assets|assets/(liabilities)|liabilities|2020|
|||f'000|K'000|E'000|E'000|
|Restricted funds|||141||141|
|Unrestricted|funds|9,867|(3,449)|(1,312)|5,106|
|||9,867|(3,308)|(1,312)|5,247|
##
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|||||||2020|
|---|---|---|---|---|---|---|
||||Unrestricted|Designated|Restricted||
||||funds|funds|funds|Total|
||||f'000|f'000|f'000|f'000|
|Income from:|||||||
|Charitable activities|||||||
|School fees|||6,188|||6,188|
|Ancillary
trading
income|||619|||619|
|CjRS grant|||532|||532|
|Other trading activities|||||||
|Non-ancillary
trading income|||||||
|investment
income|||||||
|Donations and legacies||||||40|
|Total incoming resources|||7,385||7|7,401|
|Expenditure
on:|||||||
|Costs ofgenerating|funds||||||
|Costs ofgenerating|funds||106|||106|
||||106|||106|
|Charitable activities|||||||
|Education
and grant|making||7,593|||7,593|
||||7,593|||7,593|
|Total expenditure|||7,699|||7,699|
|Net incoming/(outgoing)
resources|||(314)||7|(298)|
|Transfers between
funds|||||||
|Fund balances at 31August 2019|||5,097|314|134|5,545|
|Fund balances at $1August 2020||16|4,783|323|141|5,247|