#
##
##
|||||Page|
|---|---|---|---|---|
|Reference and administrative|||details ofthe School, its Trustees and advisers||
|Trustees'
report||||2-9|
|Independent|auditor's|report|on the financial statements|10-13|
|Consolidated|statement|offinancial activities||14|
|Consolidated|balance sheet|||15-16|
|School balance sheet||||17-16|
|Consolidated|statement|ofcash Rows||19|
|Notes to the|Rnanclal statements|||20-46|
##
|REFERENCE AND|REFERENCE AND|REFERENCE AND|ADMINISTRATIVE|DETAILS OF THE SCHOOI„ ITSTRUSTEES AND ADVISERS|DETAILS OF THE SCHOOI„ ITSTRUSTEES AND ADVISERS|DETAILS OF THE SCHOOI„ ITSTRUSTEES AND ADVISERS|
|---|---|---|---|---|---|---|
||||FOR THE|YEAR ENDED 31AUGUST 2021|||
|Trustees|||Mr AJ Fumiss||||
||||Mr R6 Sherrey||||
||||Mr M TBoobbyer||||
||||Mr P D Monis||||
||||Dr A Patemon||||
||||Mr A D Miles||||
||||Mrs DJ Marten||||
||||Revd M Kneen||||
||||Mr G S F Bell (appointed||9June 2020)||
||||Mr A Khan||||
|Company|registered||||||
|number|||02059659 (England and Wales)||||
|Charity registered|||||||
|number|||518076||||
|Company|secretary||Mr KPTheme (resigned||31 August 2020)||
||||Mrs D J Marten (appointed
1 November|||2020)|
|Head Teacher|||Mr J H Goode (Acting Head Teacher from 1 September 2020)||||
||||Mm E Nlblett
(Acting Head Teacher from|||1 September 2020)|
|Independent||auditor|Crows U.K. LLP||||
||||Fourth Floor||||
||||StJames House||||
||||StJames Square||||
||||Cheltenharn||||
||||Gloucestershire||||
||||GL50 3PR||||
|Bankers|||Lloyds TSBBank PLC||||
||||Ariel House||||
||||2138Coventry Road||||
||||Sheldon||||
||||B263JW||||
|Solicitors|||Harrison
Clark Rickerbys||Solicitors||
||||Thorpe House||||
||||29 Broad Street||||
||||Hereford||||
||||HR4 9AR||||
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||||||Unrestricted|Restricted|Tots I|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|funds|
||||||2021|2021|2021|2020|
|||||Note|E|E|E|E|
|Income from:|||||||||
|Donations||||4|131,325||131,325|482,057|
|Charitable
activities:|||||||||
|Fees|||||3,308,333||3,308333|3,638,584|
|Other educational|||income||333,301||333,30t|423,778|
|Other trading activities||||6|166,674||166,674|152,705|
|Investments||||7|66||66|935|
|Total Incmne|||||3,939,699||3,939,699|4,695,059|
|Expenditure
on:|||||||||
|Raising funds|||||141,532||141.532|82035|
|Charitabl
activihes||||9|4,132,805||4,132,808|4,701,104|
|Total expenditure|||||4,274,340||4,274,340|4,753,139|
|Net expenditure|before taxatlon||||(334,641)||(334,641)|(85,080)|
|Taxation||||15||||(7,200)|
|Net expenditure|alter taxatlon||||(334,641)||(334,641)|(92,280)|
|Transfers between||funds||23|27.126|(27,125)|||
|Net movement
in||funds|||(307,515)|(27,128)|(334,841)|(92,280)|
|Reconciliation
of||funda:|||||||
|Total funds
brought|||forward||259,867|38,203|298,070|390,350|
|Net movement
In|funds||||(307,515)|(21',t25)|(334,541)|(92,280)|
|Total funds carried|||forward||(47,648)|11,077|(36,571)|298,070|
##
##
|||||||Note||2021||2020f|
|---|---|---|---|---|---|---|---|---|---|---|
|Fixed assets|||||||||||
|Intangible|assets|||||16||||25,921|
|Tangible|assets|||||17||3,601,250||3,704,390|
|Investments||||||18||||70|
|||||||||3,601460||3,730,381|
|Current|assets||||||||||
|Stocks||||||19|39,730||27,786||
|Debtors||||||20|164,329||285,009||
|Cash at bank and||In hand|||||725||1,258||
||||||||204,784||314,053||
|Creditors:|amounts|falling due within one|||||||||
|year||||||21|(3,315,736)||(3,020,373)||
|Net current liabilities||||||||(3,110,952)||(2,706,320)|
|Total assets less||current||liabilities||||490,298||1,024,061|
|Creditors:|amounts|falling due after|||more||||||
|than one|year|||||||(526,869)||(725,991)|
|Net (liabilities)/assets|||excluding||pension||||||
|asset||||||||(36,571)||298,070|
|Total net|(liabilities)/assets|||||||(36,571)||298,070|
##
##
|||Note||2021f||2020f|
|---|---|---|---|---|---|---|
|Charltyfunds|||||||
|Restricted
fuiids||23||11,077||38,203|
|Unrestricted
funds|||||||
|General
funds||23|(461,748)||(184,431)||
|Revaluation
reserve|||414,101||444,298||
|Total unrestncted|funds|23||(47,646)||259,857|
|Total funds||||(36,571)||298,070|
##
##
||||||2021||2020|
|---|---|---|---|---|---|---|---|
||||Note||6||8|
|Fixed assets||||||||
|Tangible assets|||17||3,425,996||3,528,253|
|Investments|||18||166,743||172,117|
||||||3,592,739||3,700,380|
|Current assets||||||||
|Stocks|||19|39,730||27,786||
|Debtors|||20|176,913||258,074||
|Cash at bank and|in hand|||724||1,243||
|||||217,367||285,103||
|Creditors
amounts|falling due within one|||||||
|year|||21|(3,312,016)||(3,000,933)||
|Net current liabilities|||||(3,994,649)||(2,724,830)|
|Total assets less|current|liabilities|||498,090||975,550|
|Creditors: amounts|falling due after more|||||||
|than one year|||22||(526,869)||(725,901)|
|Total net (liabilities)/assets|||||(28,779)||249,559|
##
##
|||Note||2021f||2020f|
|---|---|---|---|---|---|---|
|Charity funds|||||||
|Restricted funds||23||11,077||39,203|
|Unrestricted
funds|||||||
|General
funds||23|(498,881)||(251,573)||
|Revaluation
Reserve||23|459,005||482,929||
|Total unrestricted|funds|23||(39,856)||211,358|
|Total funds||||(28,779)||249,559|
##
|CONSOLIDATED STATEMENT OF CASH FLOWS|CONSOLIDATED STATEMENT OF CASH FLOWS|||
|---|---|---|---|
|FORTHE YEAR ENDED 31AUGUST 2021||||
||Note|2021
6|2020f|
|Cash flows from operating
actlvlles||||
|Net cash (provided
by)/ used
in operating
activities|25|(34,547)|19,983|
|Cash flows from investing
activities||||
|Dividends,
Interests
and rents from investments||66|935|
|Proceeds from the sale oftangible fixed assets|||1,700|
|Purchase of tangible
fixed assets||(4,371)|(48,001)|
|Financing
costs||(49,523)|(45,437)|
|Interest element of HP payments||(20,665)|(14,402)|
|Net cash used
In Investing
activities||(74,493)|(105,205)|
|Cash flaws from financing
scuvltles||||
|Cash infiows from new borrowing||||
|Repayments
of borrowing||(44,586)|(30,584)|
|Repayments
offinance leases||(51,912)|(44,882)|
|Net cash used in financing
activities||(96,498)|(25,466)|
|Change
In cash and cash equivalents
In the year||(205,538)|(110,686)|
|Cash and cash equivalents
at the beginning
of the year||(168,160)|(57,472)|
|Cash end cash equivalents
at the end ofthe year|26|(373,698)|(158,100)|
|The notes on pages 20to 46 form pert ofthese finandai|statements|||
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##
|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2021f|2021
5|2021f|2020f|
||Government||grants|||||
||Nursery
Early||Years Funding|105,767||105,767|90,581|
||Small Business Grant||||||10,000|
||Coronavlrus|Job Retention Scheme||13,358||13,358|323,788|
|||||119,125||119,125|424,359|
||Donations|||12,200||12,200|57,688|
|||||131,325||131,325|482,057|
||Total 2020|||474,507|7,550|482,057||
|5.|Fees|||||||
|||||||2021|2020f|
||Fees receivable consist of:|||||||
||Gross fees|||||4,703,970|5,432,341|
||Less bursarlea||and other allowances|||(1,395,637)|(1,793,757)|
|||||||3,308,333|9,638,584|
||All fea income||is unrestricted.|||||
##
##
##
##
|Other educati|onal
Income|||
|---|---|---|---|
|||2021f|2020f|
|Music, dence|and drama|75,520|65,324|
|Sdtool outings|and dubs|5,435|52,233|
|Examinations|and extra lessons|41,932|72,923|
|Horse riding and stable fees||43,294|42,297|
|Trans port||101,479|85,811|
|Uniforms||26,534|34,952|
|Other income||36,107|80,438|
|||333,301|423,778|
##
##
##
##
##
||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2021
6|2021f|2020f|
|Biomass income|||44,472|44,472|41,889|
|Trading
Income - Lucton|International|Schools Limited|60,725|80,725|72,646|
|Rental Income|||41,477|41,477|38,170|
||||166,674|186,674|152,705|
|Torsi2020|||152,705|152,705||
##
##
||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|
||funds|funds|funds|funds|
||2021
6|2021f|2021
6|2020
5|
|Teaching|2,276,584||2,278,584|2,606,799|
|Welfare|345,672||345,672|397,436|
|Premises|590,362||590,382|634,056|
|Support|918,170||918,170|1,062,613|
||4,132,608||4,132,808|4,701,104|
|Total 2020|4,700,954|150|4,701,104||
##
##
##
||||||Total|Total|
|---|---|---|---|---|---|---|
||Teaching
2021
2|Welfare
2021f|Premises
2021f|Support
2021
5|funds
2021
5|funds
2020
5|
|Staff costs|2,155,057||238,427|329,230|2,722,714|3,139,033|
|Depreciation||22,120|65,391||107,511|120,397|
|Other costs|123,527|323,562|266,564|588,940|1,302,583|1,441,674|
||2,278,684|345,672|590,362|918,170|4,132,808|4,701,104|
|Tote/ 2020|2,SOS,799|397438|S34,05S|1,062,813|4,701,104||
##
||2021|2020f|
|---|---|---|
|Audit fees|29,592|22,877|
|Accountancy|4,838|2,400|
|Legal and professional|53,874|10,979|
|Trustees' expenses|384|1,242|
||88,366|37,498|
##
##
##
##
||||2021f|2020f|
|---|---|---|---|---|
|Fsus payable|to the School's auditor|fcr the audit ot ths School's annual|||
|accounts|||23,360|22,877|
|Fees payable|to the School's auditor|in respect of:|||
|All non-audit|services not inttuded
above||4,030|2,400|
##
|Staff costs||||||||
|---|---|---|---|---|---|---|---|
|||||Group|Group|School|School|
|||||2021f|2020f|2021
f.|2020f|
|Wages and|salaries|||2,198,698|2,541,390|2,198,698|2,541,390|
|Social security costs||||189,439|218,391|189,439|218,391|
|Contribution|to defined|contribution|pension|||||
|schemes||||334,577|379,252|334,577|379,252|
|||||2)722714|3 139033|2 722 714|3139033|
||||Group|Group|
|---|---|---|---|---|
||||2021|2020|
||||No.|No.|
|Teaching|||72|55|
|Support|and|ancillary|31|58|
||||103|112|
##
##
##
|Group|Gmup|
|---|---|
|2021|2020|
|No.|No.|
##
##
|Trustees (2020-f1 242 to 3T
Taxation|ru|stees). Ex|pe|nses
related ta|travel and stationery|.|||
|---|---|---|---|---|---|---|---|---|
|||||||2021
E||2020f|
|Corporation
tax|||||||||
|Current tax on net expenditure|for the year|||||||7,200|
|Taxatlon on net expenditure||||||||7,200|
|The tex assessed for the year|ls|the same|as|(2020 - the same es) the standard||rate ofcorporation||tex in|
|the UK of19%(2020- 19%).The dilferences||||are explained|below:||||
|||||||2021||2020|
|||||||E||f|
|Net expenditure
before tax||||||(334,641)|(65,050)||
|Net expenditure
multiplied
by the||standard|rate of corporation||tax in the UK||||
|of 19(2020 - 19%),||||||(63,582)|(16,155)||
|Effects of:|||||||||
|Chantable
activities nat subiect|ta taxation|||||63,582|23,365||
|Total tax charge for ths year||||||||7,200|
|There are no factors considered||likely to affect future tax charges|||||||
||||||||Page 32||
##
||||NOTES TO THE FINANCIAL STATEMENTS||
|---|---|---|---|---|
||||FOR THE YEAR ENDED 31 AUGUST 2021||
|16.|Intanglbl ~ assets||||
||Group||||
|||||Goodwlg|
|||||F|
||Cost||||
||At 1 September 2020|||52,441|
||At 31 August|2021||52,441|
||Amortisation||||
||At 1 September 2020|||26,520|
||Charge for the year|||5,544|
||Impairment|charge||20,377|
||At 31 August|2021||52,441|
||Net book value||||
||At 31 August|2021|||
||At 31August|2020||25,921|
##
##
##
||Freehold|Plant and|Motor|Fixtures and||
|---|---|---|---|---|---|
||property
6|machineryf|vehicles
2|flttlngs
6|Total
6|
|Cost or valuation||||||
|At 1 September 2020|3,018,537|416,210|397,$64|1,084,865|4,917,476|
|Addi6ons|1,033|||3,338|4,371|
|At 31 August 2021|3,019,570|418,210|397,864|1,088,203|4,921,847|
|Depreciation||||||
|At 1 September 2020|28,241|45,826|298,781|842,438|1,213,086|
|Charge for the year|26,273|14,574|22,121|44,543|107,511|
|At 31 August 2021|52,514|60,200|320,902|886,981|1,320,597|
|Net book value||||||
|At 31 August 2021|2,967,056|356,010|76,962|201222|3,601,250|
|At 31August 2020|2,992,296|370,554|99,083|242,427|3,704,390|
##
##
##
##
##
##
||Freehold|Plant and|Motor|Fixtures and||
|---|---|---|---|---|---|
||property|machinery|vehicles|fttttngs|Total|
|||E|E|E|E|
|Cost or valuation||||||
|At 1 September 2020|2,841,537|416,210|397,864|1,084,865|4,740,476|
|Additions|1,033|||3,338|4,371|
|At 31 August 2021|2,842,570|416,210|397,864|1,088,203|4,744,847|
|Depreciation||||||
|At 1 September 2020|25,368|45,626|298,781|842,438|1,212,213|
|Charge for the year|25,400|14,574|22,121|44,543|106,638|
|At 31 August 2021||60,200|320,902|886,981|1,318,851|
|Net book value||||||
|At 31 August 2021|2,791,802|356,010|76,962|201,222|3,425,996|
|At 31August 2020|2,816,169|370,584|99,083|242,427|3,528,263|
##
##
||Investments|
|---|---|
||In|
||subsidiary|
||companies|
||6|
|Cost orvaluation||
|At 1 September 2020|234,066|
|At 31 August 2021|234,068|
|Impairment||
|At 1 September 2020|61,971|
|Charge
for the year|5,374|
|At 31 August 2021|67,345|
##
##
##
||Names||||Company|Company|Registered|office|office|or principal|or principal|Class of|Holding|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||number||place ofbusiness|||||shares||
||Lucton|School Limited|||07067619||Lucton School,||I ucton,|||Ordinary|100%|
||||||||Leomlnster,|Herefordshlre|||HR6|||
||||||||9PN|||||||
||Lucton|Intematjonsl||Schools|09825420||Lucton School,||Lucton,|||Ordinary|100%a|
||Limited||||||Leominster,|Herefordshire|||HR6|||
||||||||9PN|||||||
||The financial||results|ofthe subsidiaries||for the year were:||||||||
||Names||||||Income
f|Expenditure
6|||Profit/(Loss)
Ifor the||Nst sssetsl
(liabilities)|
|||||||||||||year|6|
|||||||||||||E||
||Lucton|School Limited||||||||3,947||(3,947)|168,167|
||Lucton|International||Schools|Limited||80,725||112,534|||(31,809)|(671)|
|19.|Stocks|||||||||||||
||||||||Group|||Group||School|School|
||||||||2021
6|||2020f||2021
6|2020f|
||School|uniforms|||||39,730|||27,|786|39,730|27,786|
##
##
||||Group|Group|School|School|
|---|---|---|---|---|---|---|
||||2021|2020|2021|2020|
||||E|||6|
|Trade debtors|||62,196|131,396|62,196|64,353|
|Amounts
owed by group||undertakings|||12,584|16,106|
|Other debtors|||21,856|42,714|21,856|42,714|
|Prepayrnents|and accrued income||80477|110,699|80,277|110,699|
||||164,329|265,009|176,913|256,074|
##
##
|Creditors: Am|ounts
falling due within one|year||||
|---|---|---|---|---|---|
|||Group|Group|School|School|
|||2021
6|2020f|2021
E|2020f|
|Bank overdraRs||374,423|169,416|374,423|169,416|
|Bank loans||1,120,033|1,155,452|1,120,033|I,155,452|
|Fee deposits||36.380|104,125|38,380|104,125|
|Trade creditors||273,969|191,496|273,969|191,496|
|Fees in advance||5$6,671|572,628|596,671|572,526|
|Amounts
owed|to group undertakings|||10,554||
|Corporation
tax||7,200|7,200|||
|Other taxation|and social security|308,893|293,336|308,893|293,336|
|Obligations
under finance lease and hire||||||
|purchase contracts||50,023|51,912|50,023|51,912|
|Other creditors||451,851|442,979|451,851|442,979|
|Accruals||$4,293|31,927|87,219|26,667|
|||3,315,736|3,020,373|3,312,016|3,009,933|
##
##
##
##
|Creditor|s: Amount|s
falfing due|within one|year (continued)||||
|---|---|---|---|---|---|---|---|
|||||Group|Group|Company|Company|
|||||2021f|2020
f|2021
E|2020
f|
|Deferred|income at 1 September||2020|577,528|62,164|577,528|62,164|
|Resources defened||during the year||591,671|577,528|591,871|577,526|
|Amounts|released|from previous|periods|(572,528)|(62,164)|(572,528)|(62,164)|
|||||596,671|577,526|596,671|577,526|
##
##
|||Group|Group|School|School|
|---|---|---|---|---|---|
|||2021f|2020f|2021
6|2020|
|Bank loans||37,500|46,667|37,500|46,667|
|Fee deposits||151,038|292,930|151,038|292,930|
|Net obligations|under finance lease and|hire||||
|purchase
contracts||196,544|246,567|196,544|246,567|
|Fees in advance|||5,000||5,000|
|Other creditors||141,787|134,027|141,787|134,627|
|||526,869|725,991|526,869|725,991|
|included
within the above are amounts||falling due as follows:||||
|||Group|Group|School|School|
|||2021f|2020f|2021|2020f|
|Between one and two years||||||
|Bank bans||10.000|10,000|10,000|10,000|
|Between two and five years||||||
|Bank loans||27,500|30,000|27,500|30,000|
|Over five years||||||
|Bank loans|||||6,667|
##
##
##
##
##
|Stateme|nt offun|ds
- prior year||||||
|---|---|---|---|---|---|---|---|
|||Balance at|||||Ba/ance at|
|||1 September||||Transfers|31August|
|||2019f|Income
f|Expenditure|Taxationf|in/oui
f|2020
f|
|Unrestricted||||||||
|funds||||||||
|Gsnerel|Fund|(124,775)|4,690,509|(4,756,748)|(7,200)|13,783|(184,431)|
|Revaluation||||||||
|reserve||470,539||(26,241)|||444,298|
|||345,764|4,690,509|(4,782,989)|(7,200)|13,783|259,867|
|Restricted||||||||
|funds||||||||
|Portrait|ofthe|||||||
|founder|donated|||||||
|lo lhs school||11,077|||||11,077|
|Sporls hall||||||||
|project||25,626|||||25,626|
|Shop||1,841||||(1,841)||
|Classroom||3,742||||(3,742)||
|Storage|unit|398||||(398)||
|Dining room||||||||
|Iolding doors||1,902||||(1,902)||
|Anti-slip|covering||150|(150)||||
|Prep School new||||||||
|staging|||4,000|||(4,000)||
|Nursery|pirate|||||||
|ship|||1,900|||(1,900)||
|Outside|play|||||||
|squipmsnt|||1,500|||||
|||44,586|7,550|(150)||(13,783)|38,203|
|Total of|funds|390,350|4,698,059|(4,783,139)|(7,200)||298,070|
##
##
##
##
|Analysis|ofn|et assets behveen
funds - cunenl|year|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funda|funds|
||||2021|2621|2021|
||||E|E|E|
|Tangible|fixed|assets|3,590,173|11,077|3,601,250|
|Current|assets||204,784||204,784|
|Creditors|due|within one year|(3,315,736)||(3,315,736)|
|Creditors|due|in more than one year|(526,869)||(526,869)|
|Total|||(47,848)|11,077|(36,571)|
|Analysis|of net assets between|funds - prior year||||
|---|---|---|---|---|---|
||||IJnresrrlcfed|Restricted|Tolal|
||||funds|funds|funds|
||||2020|2020|2020|
||||E|E|E|
|Tangible|fixed assets||3,704,390||3,704,390|
|Intangible|fixed assets||25,921||25,921|
|Fixed asset investments|||70||70|
|Current assets|||275,850|38,203|314,053|
|Creditors|due within one year||(3,020,373)||(3,020,373)|
|Creditors|due in more than one year||I725,991)||(725,991)|
|Tl|||259,867|38,203|298,070|
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|25.|Reconciliation
of net movement
in funds|to net cash flow from operating|to net cash flow from operating|activities||
|---|---|---|---|---|---|
|||||Group|Group|
|||||2021
6|2020f|
||Net expenditure
for the year (as per Statement of Flnandal||Activities)|(334,641)|(92,280)|
||Adjustments
for:|||||
||Depreciation
charges|||107,511|120,397|
||Amortisation
charges|||25,921|5,544|
||Dividends,
interests
and rents from investments|||(66)|(935)|
||(Profit) on the sale offixed assets||||(227)|
||(Increase)
/ Decrease
in stocks|||(11,944)|18,336|
||Decrease
/ (Increase)
in debtors|||120,680|(5,865)|
||(Decrease)/Increase
in creditors|||(12,196)|(85,026)|
||Financing costs|||49,523|45,437|
||interest element
of HP and finance lease payments|||20,665|14,402|
||Net cash (used in)/provided
by operating|activities||(34,547)|19,983|
|26.|Analysis
ofcash and cash equivalents|||||
|||||Group|Group|
|||||2021
6|2020f|
||Cash
In hand|||725|1,258|
||Overdraft
fadlity repayable
on demand|||(374,423)|(169,418)|
||Total cash and cash equivalents|||(373,698)|(168,160)|
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|last full vsluaton.
The following
notes|last full vsluaton.
The following
notes|last full vsluaton.
The following
notes|last full vsluaton.
The following
notes|relate to the formal actuarial
valuation
as at 30September|relate to the formal actuarial
valuation
as at 30September|
|---|---|---|---|---|---|
|The financial assumptions
underlying||||ths last valuation
as at 30September 2014were as follows:||
||||||% p.e|
|Investment|return|pre-retirement|||5.1|
|Investment|return post retirement||-non-pensioner||3.3|
|Investment|return|post retirement|-pensioner||33|
|Rate of pension||increases||||
|RPI|||||3.1|
|CPI|||||2.2|
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