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|||||||Page|
|---|---|---|---|---|---|---|
|Reference and Administrative||Details||||1—2|
|Trustees'
Report||||||3-11|
|Governance
Statement||||||12-20|
|Statement
on Regularity,
Propriety|||and Compliance||||
|Statement
ofTrustees'|Responsibilities|||||22|
|Independent
Auditor's|Report|on|the Financial|Statements||23-24|
|Independent
Auditor's|Report|on|Regularity|||25-26|
|Statement of Financial|Activities incorporating|||Income and Expenditure|Account|27-28|
|Balance Sheet||||||29|
|Cash Flow Statement||||||30|
|Notes to the Financial|Statements,||incorporating:||||
|Statement ofAccounting||Policies||||31-35|
|Other Notes to the|Financial Statements|||||36-53|
##
##
|Secretary|||P Mitchell||
|---|---|---|---|---|
|Senior managers|||||
|Principal/Accounting|Officer||L Edwards*||
|Deputy Head
- Secondary|||LWalters||
|Deputy Head
- Primary|||LGaskell||
|Director of Finance and||Administration|P Mitchell*||
|Registered
Office|||Cobbs Brow Lane||
||||Lath am||
||||L40 6JJ||
||||Tel; 01695729912||
|Company
Registration||Number|1902341 (England|and Wales)|
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|Trustee||Meetings attended|Out ofa possible|
|---|---|---|---|
|I Birnbaum|(Chair)|||
|L Edwards|(Principal)|||
|6 Evans||||
|LWalters||||
|M Ingram||||
|R Buswell||||
|LWilkinson||||
|H Copplestone||||
|J Smalley||||
|J Bowler||||
|V Ross||||
|P Duckworth||||
|CWinteringham||||
|A O' Neill||||
|J Duckett||||
|R Trandafoiu||||
|Non Trustee||||
|P Mitchell|(Clerk)|||
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|Trustee|Meetings attended|Out ofa possible|
|---|---|---|
|I Birnbaum|6|6|
|LEdwards|6|6|
|R Buswell|5|6|
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|for the year en|ded 3|1August 2021|||||||
|---|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Restricted|Fixed|Tota I Funds|Total Funds||
|||Funds|Funds|Funds||2021|2020||
||Note|||E|||f||
|Incoming Resources|||||||||
|Incoming Resources|||||||||
|from generating|||||||||
|funds|||||||||
|Voluntary
income|3|11,873|22,986|||34,859|27,878||
|Activities for|||||||||
|Generating
funds|4|16,843||||16,843|21,067||
|Investment|||||||||
|income||16||||||65|
|Incoming
Resources|||||||||
|from charitable|||||||||
|activities|||||||||
|Funding for the|||||||||
|Academy trust's|||||||||
|educational|||||||||
|operations|||1218282|||1213282|1214036||
|Total incoming|||||||||
|Resources||28 732|1236268|||E12~0QO|1|263046|
|Resources expended|||||||||
|Costs ofgenerating|||||||||
|Voluntary
income|9||2,732|||2,732||13,411|
|Fundraising|||||||||
|Trading||20,751|7,132|||27,883||25,679|
|Charitable
activities|||||||||
|Academy's|||||||||
|Educational|||||||||
|Operations|10|10,684|1,250,132|||1,260,816|1,190,937||
|Governance
costs|11||55087|||~55 087||46029|
|Tota I resources|||||||||
|Expended|7|31435|1315083|||1346518|1|276 056|
|Net incoming/|||||||||
|(outgoing) resources|||||||||
|Before transfers||(2,703)|(78,815)|||(81,518)||(13,010)|
##
##
|for the year en|ded 31|August 2021|||||
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Restricted Fixed|Total Funds|Total Funds|
|||Funds|Funds|Funds|2021|2020|
||Note|f|f.|E|f||
|Net Incoming/|||||||
|(outgoing)
resources|||||||
|Before transfers||(2,703)|(78,815)||(81,518)|(13,010)|
|Gross transfers|||||||
|Between funds|18|~6090|14026|7936|||
|Net Income/(expenditure)|||||||
|Forthe year||(8,793)|(64,789)|(7,936)|(81,518)|(13,010)|
|Other recognised|gains||||||
|and losses|||||||
|Actuarial|18,27||48 000||48 000||
|Net movement|||||||
|In funds||(8,793)|(112,789)|(7,936)|(129,518)|(56,010)|
|Total funds|||||||
|brought
forward|18|149691|276 732|~723 529|696479|652 488|
|Total funds carried|||||||
|forward
at|||||||
|31August||~140888|389521|~715593|466960|596478|
##
|BALANCE SHEE|T|at 31Aug|ust 2021||||||
|---|---|---|---|---|---|---|---|---|
||||||2021|2021|2020|2020|
|||||Notes|6|E||E|
|Fixed assets|||||||||
|Tangible assets||||15||751,548||744,866|
|Current assets|||||||||
|Debtors||||16|68,350||42,772||
|Cash at bank and|in|hand|||202,168||288,053||
||||||270,518||330,825||
|Liabilities|||||||||
|Creditors: Amounts||falling due within one year||17|(65,106)||(97,213)||
|Net current assets||||||205,412||233,612|
|Total assets fess|current liabilities|||||956,960||978,478|
|Pension scheme|liability|||27||(490,000)||(382,000)|
|Net assets including||pension|liability|||466,960||596,478|
|Funds ofthe academy trust:|||||||||
|Restricted income||funds|||||||
|. Fixed asset fund||||18|715,593||723,529||
|. General fund||||18|100,479||105,268||
|.Pension reserve||||18|(490,000)||(382,000)||
|Total restricted funds||||||326,072||446,797|
|Unrestricted
income funds|||||||||
|.General fund||||18|140,888||143,591||
|.Designated
fund||||18|||6,090||
|Total unrestricted|funds|||||140,888||149,681|
|Total funds||||||466,960||596,478|
##
##
|for the year ended|31August|2021|||||
|---|---|---|---|---|---|---|
||||||2021|2020|
|||||Note|||
|Net cash flow from|operating|activities||22|(51,286)|81,748|
|Returns
on investments|and servicing offinance|||23|16|65|
|Capital expenditure||||24|(34,615)|(11,319)|
|Increase/(Decrease)
in|cash in the|year||25|{85,885)|70,494|
|Reconciliation
of net cash flow to||movement|in net funds||||
|Net funds at 1September 2020|||||288,053|217,559|
|Net funds at 31August|2021||||202,168|288,053|
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|o|Freehold|buildings|||1/o-25% Straight|Line|
|---|---|---|---|---|---|---|
|o|Fixtures,|fittings and equipment|||25/0 Straight|Line|
|o|ICT equipment||||33/0 Stra ight|Line|
|o|Minibus|(included|within|equipment)|25/0 Straight|Line|
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##
||||2021|2020|
|---|---|---|---|---|
||||f.||
|2|GENERAL ANNUAL|GRANT (GAG)|||
||a. Results and Carry|Forward for the Year|||
||GAG brought forward|from last year|103,755|40,295|
||GAG allocation for current year||1,205,113|1,200,079|
||Total GAG available to spend||1,308,868|1,240,374|
||Recurrent
expenditure|from GAG|1,230,186|1,136,619|
||GAG carried forward|to next year|78,712|103,755|
||Maximum
permitted|GAG carry forward at end of|||
||current year (12%of allocation for current year)||144,614|144,009|
||GAG to surrender to|DfES|-65,902|-40,254|
||(12%rule breached
if result is positive)|||(no breach)|
##
||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|2021|2020|
||||f|f|f|f|
|Private sponsorship||and donations|||||
|Miscellaneous|donations||11,160||11,160|13,698|
|Duke of Edinburgh||||2,120|2,120|1,930|
|Europe Projects Income||||||3,457|
|Edna Linnell|Legacy|||15,331|15,331||
|Miscellaneous|Income||713|5,535|6,248|8,793|
||||11,873|22,986|34,859|27,878|
##
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##
|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|2021|2020|
|||||f|f|f||
||Fun draising|||4,874||4,874|1,538|
||Pupil Trips|||727||727|4,320|
||Uniform
Sale|||108||108|258|
||Out of Hours Income|||9,806||9,806|13,363|
||Catering
Income|||885||885|411|
||Bus Transfer Income||||||1,177|
||Recipe Book|||||||
|||||16,843||16,843|21,067|
|5|iNVESTMENT INCOME|||||||
|||||Unrestricted|Restricted|Total|Total|
|||||Funds|Funds|2021|2020|
|||||f|f||f|
||Bank Interest|||16||16|65|
|6|FUNDING FOR|THE ACADEMY'S EDUCATIONAL|||OPERATIONS|||
|||||Unrestricted|Restricted|Total|Total|
|||||Funds|Funds|2021|2020|
|||||f||f|f|
||DfE/ESFA grants|||||||
||General
Annual|Grant (GAG) (note 2)|||1,205,113|1,205,113|1,200,079|
||||||1,205,113|1,205,113|1,200,079|
||Other Government||grants|||||
||LocaI authority|grants|||8,169|8,169|13,957|
||||||1,213,282|1,213,282|1,214,036|
##
##
|||||||Staff|||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Costs|Non Pay|Expenditure|Total|Total|
|||||||||Other|||
||||||||Premises|Costs|2021|2020|
|||||||f|f|f|f|f|
|Costs of activities||for generating|||funds|17,899||9,984|27,883|5,679|
|Costs of generating||voluntary||income||||2,733|2,733|13,411|
|Academy's|educational||operations||||||||
|.Direct costs||||||799,606|13,064|112,116|924,786|864,643|
|.Allocated|support|costs||||273,940|36,405|25,625|336,030|326,294|
||||||1,091,445||49,529|150,458|1,291,432|1,230,027|
|Governance|costs|including|||||||||
|allocated support||costs||||42,357||12,730|58,087|46,029|
||||||1,133,802||49,529|163,188|1,346,519|1,276,056|
|Unrestricted|Restricted|Total|Total|
|---|---|---|---|
|Funds
f|Fundsf|2021f|2020f|
|2,714|7,132|9,846|9,881|
|138||138|770|
|17,899||17,899|15,028|
|20,751|7,132|27,883|25,679|
##
##
||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|
||Funds|Funds|2021|2020|
||f|f|f|f|
|TM Teaching||1,900|1,900|11,904|
|Duke of Edinburgh||832|832|1,507|
|||2,732|2,732|13,411|
|10
CHARITABLE ACTIVITIES —ACADEMY'S EDUCATIONAL|10
CHARITABLE ACTIVITIES —ACADEMY'S EDUCATIONAL|10
CHARITABLE ACTIVITIES —ACADEMY'S EDUCATIONAL|10
CHARITABLE ACTIVITIES —ACADEMY'S EDUCATIONAL|10
CHARITABLE ACTIVITIES —ACADEMY'S EDUCATIONAL|10
CHARITABLE ACTIVITIES —ACADEMY'S EDUCATIONAL|OPERATIONS|OPERATIONS||
|---|---|---|---|---|---|---|---|---|
|DIRECTCOSTS|||||||||
||||Unrestricted||Restricted||Total|Total|
|||||Funds||Funds|2021|2020|
|||||||f|||
|Teaching
and educational||support staff costs|||799,606||799,606|723,649|
|Depreciation||||||27,933|27,933|27,069|
|Technology costs||||||24,283|24,283|22,062|
|Books, apparatus|and stationery|||||40,91/|40,917|34,910|
|Examination
fees||||||4,071|4,071|7,119|
|Staff development||||||2,217|2,217|2,744|
|Educational
Visits||||908|||908|3,029|
|Other direct costs|||9,154|||15,698|24,852|44,061|
||||10,062||914,725||924,787|864,643|
|ALLOCATED SUPPORT||COSTS|||||||
|Support staff costs|||||273,940||273,940|271,294|
|Pupil recruitment|and support|||||4,443|4,443|3,244|
|Maintenance
of premises||and equipment||||17,140|17,140|18,307|
|Cleaning||||||10,080|10,080|7,529|
|Rates||||||4,767|4,767|5,247|
|Heat and light||||||10,737|10,737|7,762|
|Insurance||||||4,449|4,449|4,500|
|Telephone||||||1,760|1,760|1,592|
|Transport||||||1,563|1,563|4,339|
|Technology costs||||||68|68|106|
|Bank charges||||||317|317|303|
|Other support costs||||622||6,143|6,765|2,071|
|||||632|275,407||336,029|326,294|
|ACADEMY'S EDUCATIONAI. OPERATIONS|||10|684|1250 192 1260816|||1190952|
||||39||||||
##
##
##
|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||Funds|Funds|2021|2020|
|||f|f|f|f.|
|Legal and professional|fees||4,442|4,442|4,903|
|Auditor's
remuneration||||||
|.Audit of financial statements|||4,750|4,750|4,750|
|.Other audit costs|||3,538|3,538|3,538|
|Support Staff Costs|||42,357|42,357|32,838|
||||55,087|55,087|46,029|
|12
STAFF COSTS||||||
|Staff costs comprise:||||2021
f|2020|
|Wages and salaries||||763,388|716,203|
|Social security costs||||58,229|50,921|
|Other pension
costs||||229,993|217,978|
|||||1,051,610|985,102|
|Supply teacher costs||||64,292|42,586|
|Other Supply costs||||17,899|15,029|
|Cleaning costs|||||92|
|TM teaching costs||||1,900|11,904|
|||||1,135,701|1,054,713|
##
##
##
##
|Charitable
Ac|tivitie|s||||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|||||||No.|No.|
|Teachers||||||17|19|
|Administration|and|support|(including|Teaching|Assistants)|19|25|
|Management||||||3|3|
|||||||39|47|
##
|role as tru|stees.
Th|e value oftruste|es'
remuneration|was as follows:|
|---|---|---|---|---|
|I Edwards|(principal|and trustee):||E45,000 —f50,000(2020:E45,000 —f50,000)|
|M Ingram|(Head of|Cbe, Secondary|and trustee):|625,000 - 630,000(2020:f30,000 - 635,000)|
|LWalters|(Deputy|Head and trustee):||235,000 - f40,000(2020:E30,000 - 835,000)|
|H Copplestone||||625,000 —833,000(2020:230,000 —635,000)|
##
##
|15
TANGIB|LE FIXEDASSE|TS|||||
|---|---|---|---|---|---|---|
|||Freehold|||Computer||
|||Land and|Furniture|8|Equipment||
|||Buildings|Equipment||8 Software|Totalf|
|Cost|||||||
|At 1September 2020||871,616|130,608||278,029|1,280,253|
|Additions||11,820|433||22,362|34,615|
|At 31August 2021||883,436|131,041||300,391|1,314,868|
|Depreciation|||||||
|At 1September|2020|139,892|125,894||269,601|535,387|
|Charged
in year||13,064|2,241||12,628|27,933|
|At 31August 2021||152,956|128,135||282,229|563,320|
|Net book vaiues|||||||
|At 1September|2020|731,724|4,714||8,428|744,866|
|At 31August 2021||730,480|2,906||18,162|751,548|
|16
DEBTORS|||||||
||||||2021f|2020
f|
|Trade Debtors|||||5,905|3,947|
|Other Debtors|||||42,308|14,208|
|Prepayments
and accrued income|||||20,137|24,617|
||||||68,350|42,772|
|17
CREDITORS: AMOUNTS||FALLING DUE WITHIN ONE YEAR|||||
||||||2021f|2020
f|
|Trade creditors|||||25,828|25,162|
|Other creditors|||||6,029|37,312|
|Accruals|||||7,300|7,300|
|Deferred income|||||25,949|27,439|
||||||65,106|97,213|
##
##
##
|17
C|REDITORS: AMOUNTS
FALLING DUE WITHIN|ONE YEAR (continued)||
|---|---|---|---|
|Deferred|income|2021|2020|
|Deferred|Income at 1September 2020|27,439|33,556|
|Resources|deferred
in the year|25,949|27,439|
|Amounts|released from previous year|(27,439)|(33,556)|
|Deferred|Income at 31August 2021|25,949|27,439|
|18
FUNDS|||||||
|---|---|---|---|---|---|---|
|||Balance|||Gains|Balance at|
|||1 September
2020|Incoming
resources|Resources
Expended|losses and 31August
Transfers
2021||
|||F|F||||
|Restricted general|funds||||||
|General
Annual
Grant (GAG)||103,755|1,205,113|(1,238,092)|7,936|78,712|
|Other Government|Grant||8,169|(8,169)|||
|Edna Linell —TIVI Teaching|||15,331|(1,900)||13,431|
|Erasmus/Europe
Project||1,090||||1,090|
|Chromebooks/Photography|||5,535|||5,535|
|Duke of Edinburgh||423|2,].20|(832)||1,711|
|Restricted general|funds before||||||
|||105,268|1,236,268|(1,248,993)|7,936|100,479|
|Pension Reserve||(382,000)|-|(60,000)|(48,000)|(490,000)|
|||(276,732)|1,236,268 (1,308,993)||(40,064)|(389,521)|
|Restricted fixed asset funds|||||||
|DfEScapital grants||723,529|||(7,936)|715,593|
|Total Restricted
Funds||446,797|1,236,268 (1,308,993)||(48,000)|326,072|
|Unrestricted
funds|||||||
|Unrestricted
funds||143,591|28,732|(31,435)||140,888|
|Designated
fund|||||||
|Computer
Fund||6,090||(6,090)|||
|||596,478|1,265,000 (1,346,518)||(48,000)|466,960|
##
##
##
||||Restricted|Restricted||
|---|---|---|---|---|---|
|||Unrestricted|General|Fixed asset||
|||Funds|Funds|Funds|Total|
|Tangible|fixed assets|35,955||715,593|751,548|
|Current|assets|170,039|100,479||270,518|
|Current|Liabilities|(65,106)|||(65,106)|
|Pension|Scheme Liability||~490 000||~490000|
|||140,888|(389,521)|715,593|466,960|
##
##
##
##
||At 31August 2021t
leases as follows:|he academy trust had|annual
com|mitments
und|er non-cancella|ble
opera|
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||f|E|
||Other||||||
||Expiring within two|to five years inclusive||||3,459|
||Expiring
in over five|years-|||||
|||||||3,459|
|22|RECONCILIATION|OF NET INCOME TO|NET CASH|INFLOW|||
||FROM OPERATING ACTIVITIES||||||
||||||2021|2020|
||Net (expenditure)/income||||(81,518)|(13,010)|
||Depreciation
(note|15)|||27,933|27,069|
||Interest receivable|(note 5)|||(16)|(65)|
||Defined benefit pension scheme cost less||contributions|payabie|60,000|60,000|
||(Increasej/decrease|in debtors|||(25,578)|(5,490)|
||Increase/(decreasej|in creditors|||(32,107)|13,244|
||Net Cash (Outflow)/inflow
from Operating||Activities||(51,286)|81,748|
##
##
|for th|e year ended 31August 2021|e year ended 31August 2021|e year ended 31August 2021|e year ended 31August 2021|e year ended 31August 2021|||
|---|---|---|---|---|---|---|---|
|23|RETURNS ON INVESTMENTS AND SERVICING FINANCE|||||||
|||||||2021|2020|
|||||||f|f|
||Interest received|||||16|65|
||Net cash inflow from returns||on Investment||and servicing of|||
||Finance|||||16|65|
|24|CAPITAL EXPENDITURE AND FINANCIAL||||INVESTMENT|||
|||||||2021f|2020f|
||Purchase oftangible
fixed assets|||||34,615|11,319|
||Net cash outflow from|capital|expenditure|and financial||||
||Investment|||||34,615|11,319|
|25|ANALYSIS OF CHANGES|IN NET FUNDS||||||
||||||||At 31|
||||||At 1September||August|
||||||2020|Cash flows|2021|
||||||f|f|f|
||Cash in hand and at bank||||288,053|(85,885)|202,168|
||||||288,053|(85,885)|202,168|
##
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##
|||||At 31|At 31|
|---|---|---|---|---|---|
|||||August|August|
|||||2021|2020|
|Rate of|increase|in salaries||4,3%|3.80%|
|Rate of|increase|for pensions|in payment/inflation|2 9%|2.40'Yo|
|Discount|rate for|scheme liabilities||1.7%|1.80%|
|Inflation|assumption
(CPI)|||2.8%|2.30%|
|Commutation
of||pensions to|lump sums|||
|-Maximum
Cash||||50.00%|50.00'Yo|
|-3/80ths Cash||||50.00%|50.00%|
##
##
##
||At 31|At 31|
|---|---|---|
||August|August|
||2021|2020|
|Retiring today|||
|Males|22.4|22,3|
|Females|25.1|25.0|
|Retiring in 20years|||
|Males|23.9|23.8|
|Females|26.9|26.8|
||||At 31|At 31|
|---|---|---|---|---|
||||August|August|
||||2021|2020|
||||f000|f000|
|Sensitivity|Analysis||||
|Discount|Rate+0, 1%||465|362|
|CP I rate +0.1%|||516|402|
|Mortality|assumption|—1-year increase|527|408|
|Pay growth +0.1%|||491|383|
##
##
##
##
|||||Fair value at|Fair value at|
|---|---|---|---|---|---|
|||||31August|31August|
|||||2021|ZGZG|
|Equities||||349,000|246,000|
|Other Bonds||||37,000|37,000|
|Property||||69,000|74,000|
|Cash/Liquidity||||14,000|10,000|
|Other||||221000|176000|
|Total market
value||ofassets||690000|561'000|
|The actual return|on scheme assets was ESO,OQO (2020: loss-E4000)|||||
|AMOUNTS
RECOGNISED IN THE STATEMENT OF FINANCIAL ACTIVITIES||||||
|||||2021|2020|
|Current service cost (net ofemployee|||contributions)|(108,000)|(103,000)|
|Total operating|charge|||108000|103000|
|Analysis ofpension||finance income/(costs)||||
|Expected return|on|pension scheme|assets|10,000|8,000|
|interest on pension||liabilities||~17000|~13000|
|Pension finance|income/(costs)|||||
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|Movements
in the present value of|defined|benefit|||
|---|---|---|---|---|
|Obligations
were as follows|||||
||||2G21|2020|
|||||f|
|At 1September
2020|||923,000|693,000|
|Current service cost (net ofemployee|contributions)||108,000|103,000|
|interest cost|||17,000|13,000|
|Employee
contributions|||15,000|15,000|
|Past Service Cost (gain)|||||
|Actuarial
(gain)/loss|||120,000|102,000|
|Benefits/Transfers
Paid|||(3,000)|(3,000)|
|At 31August 2021|||1,180,0GO|923,000|
|Movements
in the fair value ofacademy's||share of|scheme assets:||
||||2021|2020|
||||f|f|
|At 1September|||541,000|414,000|
|Interest income|||10,000|8,000|
|Actuarial
gain/(loss)|||72,000|59,000|
|Administration
Expenses|||(2,000)|(2,000)|
|Employer contributions|||57,000|50,000|
|Employee
contributions|||15,000|15,000|
|Benefits Paid|||(3,000)|(3,000)|
|At 31August 2021|||660 000|641000|
|Deficit in Scheme at 31August 2021|||(490,000)|(382,000)|
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