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|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|
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||||||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||||||
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|||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)|
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|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|
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|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|
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||||||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|
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||||||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|