2022-08-31-accounts

Directors and Advisors for the Year Ended 31 August 2022	1
Reference and Administrative Information	3
Structure, Governance and Management	3
Objects, Aims, Objectives and Activities	6
Strategic Report	S
Overview of the year	8
Achievements and Performance	9
Fundraising Performance	10
Financial Review	11
Principal Risks and Uncertainties	12
Plans for the Future	14
Statement ofAccounting and Reporting Responsibilities	15
Independent Auditor’s Report to the Members of Queen Margaret’s School, York Limited	16
Statement of Financial Activities for the Year Ended 31 August 2022	20
Balance Sheet as at 31 August 2022	21
Cash Flow Statement for the Year Ended 31 August 2022	22
Notes to the Cash Flow Statement for the Year Ended 31 August 2022	23
Accounting Policies	24
Notes to the Financial Statements for the Year Ended 31 August 2022	28

					2022	2021
		Unrestricted	Designated	Restricted
		funds	funds	funds	Total	Total
		£‘OOO	£‘OOO	£‘OOO	£‘OOO	£‘OOO
Income from:
Charitable activities
School fees	1	5,739			5,739	5,554
Ancillary trading income	2	803			803	620
Other income	2	358			358	533
Othertradingactivities
Non-ancillary trading income	2	5			5	3
Investmentincome	2	1	10	2	13	15
Donationsandlegacies		53			53	24
Total incoming resources		6,959	10	2	6,971	6,749
Expenditure on:
Costsofgeneratingfunds
Costs ofgenerating funds	5	165	-	-	165	122
		165	-	-	165	122
Charitableactivities
Education and grant making	5	7,742	-	-	7,742	7,523
		7,742	-	-	7,742	7,523
Total expenditure	5	7,907	-	-	7,907	7,645
Net incoming/(outgoing)	3	(948)	10	2	(936)	(896)
resources
Transfers between funds	16
Fund balances at 31 August 2021		3,875	333	143	4,351	5,247
Fund balances at 31 August 2022	16	2,927	343	145	3,415	4,351

	Note	2022	2021
		£‘OOO	f’OOO
Fixed assets
Tangible assets	7	9,308	9,582
		9,308	9,582
Current assets
Stocks		87	49
Debtors	8	746	383
Cash at bank and in hand		7	4
		840	436
Creditors - amounts falling due within one year	9	(5,016)	(4,002)
Net current liabilities		(4,176)	(3,566)
Total assets less current liabilities		5,132	6,016
Creditors — amounts falling due after more than one year	10	(1,717)	(1,665)
Net assets		3,415	4,351
Restricted funds	16	145	143
Unrestricted funds	16	3,270	4,208
Total Funds	16	3,415	4,351

	Note	2022	2022	2021	2021
		£000	£000	£‘OOO	£‘OOO
Net cash (outflow)from operations	A		(611)		(570)
Cash flow from investing activities
Interest received		13		15
Interest paid		(162)		(119)
Proceeds from sale offixed assets		369
Payment for tangible fixed assets		(149)		(153)
Net cash used in investing activities			71		(257)
Cash flow from financing activities
Advance fees scheme:
Receipts from new contracts		302
Amounts utilised and repaid		(35)		(125)
Finance lease contracts:
Amounts repaid		-		(4)
Bank facility (repaid)/ utilised		276		948
Net cash used by financing activities			543		819
Change in cash and cash equivalents
in the reporting period			3		(8)
Cash and cash equivalents at the			4		12
beginning of the period
Cash and cash equivalents at the end	8		7
ofthe period

		2022	2021
		COnG	£‘OOO
Net outgoing resources		(936)	(896)
Interest receivable		(13)	(15)
Financing costs		162	119
Profit on sale offixed assets		(358)	-
Depreciation charges		411	438
(Increase)! Decrease in stocks		(38)	(12)
(Increase)/ Decrease in debtors		(363)	(132)
Increase/ (Decrease) in creditors		524	(72)
Net cash (outflow) from operations		(611)	(570)
B Analysis ofcash and cash equivalents
		2022	2021
		COOn	£‘OOO
Cash at bank and in hand		7	4
C Reconciliation of net debt
	At 1
	September		At 31 August
	2021	Cashflow	2022
	£000	£000	£‘OOO
Cash in hand, at bank	4	3	7
Bank overdraft	(1,456)	(405)	(1,862)
Bank loan <1 year	(130)	17	(113)
Bank loan > 1 year	(1,630)	113	(1,517)
	(3,212)	(273)	(3,485)

The Sc	hool’s fee income comprised:
		2022	2021
		£‘OOO	£000
Gross	fees (net ofcharge for bad debts]	6,548	6,210
Less:	total bursaries, grants and allowances	(809)	(656)
		5,739	5,554
Scholarships, bursaries and other awards were made to 81(2021:69) pupils. Within this means
tested	bursaries totalling £507,000 were awarded to 32 pupils (2021: £484,000 to 28		pupils).
2.	Other Income

2. Other Income
	2022	2021
	£‘OOO	£‘OOO
From charitable activities
Extra subjects, trips and activities, fees in lieu and other extras	461	427
Use of facilities, registration fees and other miscellaneous	342	193
Profit on sale oftangible assets (see note 19)	358
CJRS grant		533
	1,161	1,153
Other trading activities
Lettings and other income	5	3
Investment incomes
Transfer from unrestricted funds	13	12
Interest receivable	5	3
	18	15
3. Net Outgoing Resources
Net outgoing resources are stated after charging:
	2022	2021
	£‘OOO	£‘OOO
Fixed assets
Depreciation	411	438
Auditors’ remuneration
For audit services	18	16
Operating lease charges
Land and buildings and motorvehicles	110	116
Interest paid
Bank interest	112	76
Transfer to restricted funds	13	12

Queen Margaret’s School, York Limited (A Company Limited byGuarantee) 4. Staff Costs
	2022	2021
	£000	£‘OOO
The aggregate payroll costs for the year were as follows:
Wages and salaries	4,136	4,143
Social security costs	389	377
Pension contributions	598	653
	5,123	5,173
Aggregate employee benefits of key management personnel
(including employer pension and national insurance costs)	375	381

The average full time equivalent number ofemployees at the School	2022	2021
	Number	Number
Teaching	54	55
Welfare	51	53
Premises	11	11
Support	16	16
	132	135

		2022	2021
		Number	Number
£90,001	-£100,000	1	1
£80,001	-£90,000
£70,001	- £80,000	1	1
£60,001- £70,000		2	2

					2022
		Staff	Other	Depreciation	Total
		£‘OOO	£‘OOO	£000	£‘OOO
Charitable activities
Teachng		2,557	325	80	2,962
Welfare		1,508	364	-	1,872
Premises		300	931	331	1,562
Support costs and governance		758	588	-	1.346
Grants, awards	and prizes
		5,123	2,208	411	7,742
Costs of generatingfunds
Financing costs	- interest	-	162	-	162
payable
Development costs		-	3	-	3
Total expended		5,123	2,373	411	7,907
					2021
		Staff	Other	Depreciation	Total
		£000	£000	£‘OOO	£‘OOO
Charitable activities
Teaching		2,871	94	92	3,057
Welfare		1,442	372	-	1814
Premises		264	791	346	1,401
Support costs and governance		596	655	-	1,251
Grants, awards	and prizes
		5,173	1,912	438	7,523
Costs of generatingfunds
Financing costs	- interest	-	119	-	119
payable
Development costs		-	3	-	3
Total expended		5,173	2,034	438	7,645

Governance Costs	included in Support Costs:
		2022	2021
		£‘OOO	£‘OOO
Auditors’ remuneration	- audit services	18	16
Legal and professional fees, Governors’ training and expenses		1	25
		19	41

Tangible Fixed Assets
				Plant,
			Fixtures	equipment
	Freehold		and	and motor
	buildings	IT	fittings	vehicles	Total
	£‘OOO	£‘OOO	£‘OOO	£‘OOO	£‘OOO
Cost or frozen* valuation
1 September 2021	13,787	846	5,742	363	20,738
Additions	39	73	31	6	149
Disposals	(30)				(30)
31 August 2022	13,796	919	5,773	369	20,857
Depreciation
1 September 2021	5,136	600	5,166	254	11,156
Charge forthe year	177	80	127	27	411
Disposals	(18)	-	-	-	(18)
31 August 2022	5,295	680	5,293	281	11,549
Net book values
31 August 2022	8,501	239	480	88	9,308
31 August 2021	8,651	246	576	109	9,582

Debtors
	2022	2021
	£‘OOO	£‘OOO
School fees and extras	217	228
Other debtors	397	11
Prepayments	132	144
	746	383

Queen Margaret’s School, York Limited (A Company Limited byGuarantee) 9. Creditors: amounts falling due within one year
	2022	2021
	E’OOO	£‘OOO
Fees received in advance	1,432	985
Trade creditors	254	247
Taxation and social security	94	278
Final term deposits	778	615
Accruals	118	94
Other creditors	229	162
Bank overdraft facility (note 11)	1,862	1,456
Bank loan (note 11)	113	130
Deferred Income - advance fees scheme	136	35
(note 12)
	5,016	4,002
10. creditors: amounts falling due after more than one year
	2022	2021
	£‘OOO	£‘OOO
Bank loans (note 11)	1,517	1,631
Deferred Income — advance fees scheme (note 12)	200	34
	1,717	1,665
11. Bank Loans and Overdraft
The bank loans are due to be repaid as follows:
	2022	2021
	£‘OOO	£‘OOO
Within 1 year (note 9)	113	130
Within ito 5 years	302	523
Over 5 years	1,215	1,109
	1,630	1,762

	2022	2021
	£‘OOO	£‘OOO
Within 1 year (note 9)	136	35
Between landS years (note 10)	200	34
	336	69

	2022	2021
	£‘OOO	£‘OOO
Balance at 1 September 2021	69	194
New contracts	302
Payment offees to the School	(35)	(125)
Balance at 31 August 2022	336	69
13. Financial Instruments
	2022	2021
	£‘OOO	£‘OOO
Financial assets measured at amortised cost (a)	621	243
Financial assets measured at fairvalue	0	0
Financial liabilities measured at amortised cost (b)	(4,965)	(4,611)
Net financial assets measured at arnortised cost	(4,344)	(4,368)

ing leases for land and buildings and motor vehicl	es which expire as follows:
	2022	2021
	Coca	£‘OOO
Within one year	97	108
Within two to five years	251	184
Afterfive years	36	26
	384	318

16. Statement of Funds
	Balance at				Balance at
	31 August	Incoming	Resources	Gains, Losses	31 August
	2021	Resources	Expended	and Transfers	2022
	£‘OOO	£000	£000	£000	£000
Restricted funds
Bursary Funds	125	2			127
Other restricted funds	18				18
Total restricted funds	143	2	-	-	145
Unrestricted funds
General:
Accumulation lurid	3,875	6,959	(7,907)	-	2,927
Designated:
Janet Churm Bursary Fund	333	10	-	-	343
Total unrestricted funds	4,208	6,969	(7,907)	-	3,270
Total funds	4,351	6,971	(7,907)		3,415

	Balance at					Balance at
	31 August	Incoming		Resources	Gains, Losses	31 August
	2020	Resources		Expended	and Transfers	2021
	£000	£000		£‘OOO	£000	£000
Restricted funds
Bursary Funds	123	2	-		-	125
Other restricted funds	18				-	18
Total restricted funds	141	2		-	-	143
Unrestricted funds
General:
Accumulation fund	4,783	6,737		(7,645)	-	3,875
Designated:
Janet Churm Bursary Fund	323	10		-	-	333
Total unrestricted funds	5,106	6,747		(7,645)	-	4,208
Total funds	5,247	6,749		(7,645)	-	4,351

		Net current	Longterm	Total
	Fixed assets	assets/(liabilities)	liabilities	2022
	£‘OOO	£‘OOO	£‘OOO	£‘OOO
Restricted funds		145	-	145
Unrestricted funds	9,308	(4,321)	(1,717)	3,270
	9,308	(4,176)	(1,717)	3,415
		Net current	Long term	Total
	Fixed assets	assets/(Iiabilities)	liabilities	2021
	£‘OOO	£‘OOO	£‘OOO	£‘OOO
Restricted funds	-	143	-	143
Unrestricted funds	9,582	(3,709)	(1,665)	4,208
	9,582	(3,566)	(1,665)	4,351

					2021
		Unrestricted	Designated	Restricted
		funds	funds	funds	Total
		£‘OOO	£‘OOO	£‘OOO	£‘OOO
Income from:
Charitableactivities
School fees	1	5,554			5,554
Ancillary trading income	2	620			620
CJRS grant	2	533			533
Other trading activities
Non-ancillary trading income	2	3			3
Investmentincome	2	3	10	2	15
Donationsandlegacies		24			24
Total incoming resources		6,737	10	2	6,749
Expenditure on:
Costsofgenerating funds
Costs ofgenerating funds	5	122	-	-	122
		122	-	-	122
Charitableactivities
Lducation and grant making	5	7,523	-	-	7,523
		7,523	-	-	7,523
Total expenditure	S	7,645	-	-	7,645
Net incoming/(outgoing)	3	(908)	10	2	(896)
resources
Transfers between funds	16
Fund balances at 31 August 2020		4,783	323	141	5,247
Fund balances at 31 August 2021	16	3,875	333	143	4,351