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2023-07-31-accounts

Company Registration number 2185224

Charity Registration number 519496

Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Report and unaudited Financial Statements

for the year ended 31 July 2023

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Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Company information

Trustees Alan Southgate
Sarah Comey
Karl O'Dare
DavidMorley
David Jones
: Gavin Metheringham
Company Secretary MrsM Southgate
Treasurer Dr, Paul Corney
Company number 2185224
Charitynumber 519496
Registered office Ebenezer BaptistChurch
Wyndham Street
Machen
Caerphilly '
CF83 8PU
Accountants RH Jeffs&Rowe Limited
Chartered Accountants
Pontypridd
CF37 2HW .
Bankers LloydsBankple
Market Square
Pontypridd
Website http://wyclifchristianschool.org/

Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Contents

Page
Trustees report 1-3
Accountants’ report 4
Statement ofFinancial Activities 5
Balance sheet 6-7
Cash flow statement 8
Notestothefinancialstatements 9-15

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Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Trustees’ report for the year ended 31 July 2023

The trustees present their report and the financial statements for the year ended 31 July 2023. This report also represents the Directors’ Report required by company law.

Trustees

The trustees who served during the year are as stated below:

Alan Southgate

Karl O'Dare (appointed October 2022) Sarah Corney David Jones David Morley Gavin Metheringham

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 29 October 1987 and registered as a charity on 7 December 1987. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association .

Organisational structure

All major decisions and staff appointments are made in the regular governors meetings (trustees meeting). The school governors set policy and the school's senior management team are required to implement the school policy set by the board of governors. Members of the senior management team attend all governor meetings. This is usually the Headteacher and Deputy Headteacher. All pay is reviewed and decided by the governing body.

Quarterly, the Treasurer makes a full financial report to the governing body including review of payments, receipts and reserves. Annual budgets are prepared and presented to the governing body each year. Staff remuneration is reviewed annually and decided by the governing body.

Appointment of New Trustees & Training

New trustees are appointed by the governing body. All governors are subject to DBS safeguarding checks and receive safeguarding training. All major decisions and staff appointments are made in the regular govemors meetings (trustees meeting).

Objectives and activities

The objective is to promote and provide for the advancement of Christian education in Mid-Glamorgan, South Glamorgan and Gwent by the running of a school.

Page 1

Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Trustees' report for the year ended 31 July 2023

teetereeeeeeeeeees CONTINUE

Public Benefit

The School continues to provide a Christian based education for children from the age of 4 until 18.

The School promotes the academic, moral, and physical development of the children, thus preparing them for the responsibilites of adult life. A number of our children have special needs and these are catered for with the cooperation of the appropriate authorities.

The modest fee structure ensures that parents who would not normally be able to afford school fees have access to a Christian education that they wish to have for their children.

The Trustees have had regard to the Charity Commission's guidance on public benefit.

Annual review

The subjects offered at GCSE level during the year were: English Language, English Literature, Mathematics, Physics, Chemistry, Biology, History, ICT (Short Course), Religious Studies and Spanish. Additionally at Year 13, the following subjects have been provided at GCE A Level: Mathematics, English, Spanish, Computer Science, Physics, History, Art and Geography.

In 2023, 9 pupils completed Year 11 GCSE examinations with 77.8% of students achieving the Level 2 national standard. This is defined as 5 or more A* - C grades including Mathematics and English Language.

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In 2023, 5 students completed 16 Year 13 GSE A Level examinations with 100% of these exams resulting in A* -C grades.

Financial Review

The Statement of Financial Activities (SOFA) is designed to show the user what funds the charity generated during the year, and how those funds are spent. The SOFA also shows the funds and assets designated by the trustees for a specific purpose, and those funds and assets that can be spent or utilised at the trustee's discretion, within the confines of the charity's aims and objectives. These are the unrestricted funds of the charity.

Income generated by the charity this year increased to £503,188 from £474,612. Costs for the year increased to £525,008 from £478,485. Full details of expenditure are shown in note 3 of the accounts.

The charity therefore made a deficit overall of £21,760. (LY - £3,874)

The charity balance sheet is a snap shot value in costs terms only, of the charity's vale as at the close of business on the 31 July 2023. No attempt has been made to place a market value on any of the buildings or equipment as the trustees have no plans to sell significant assets, but instead plan on continuing to use the _ asset to help the charity put its aims and objectives.

On the balance sheet the fixed assets decreased in cost value to £129,714 from £133,851. This decrease is due to the deduction from the depreciation charge which reflects the costs of wear and tear from usage..

Page 2

Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Trustees' report for the year ended 31 July 2023

lesaeeeeeees CONtINUEd

Money held by the charity decreased by £13,444 during the year whilst debtors decreased by £4,457. Creditors and other money owed by the charity at the year-end decreased by £278 from last year. The balance sheet then shows the funds split between unrestricted and designated, with note 10 of the accounts showing what assets are reflected in the fund balances.

Reserves policy

The trustees recognise the importance of maintaining unrestricted funds at a level necessary to fund the continuing activities of the charity. The reserves held in the bank accounts totalled £77,665 at the year-end (2022: £91,109).

Annually a formal assessment of our reserves is made. Quarterly, the treasurer makes a full financial report to the governing body.

Investment policy

The trustees have considered the most appropriate policy for investing funds and have concluded that funds surplus to the immediate requirements of the charity should be placed in a bank deposit account and transferred as required.

Future plans

The charity plans continuing the activities outlined above in future years subject to pupil numbers. :

This report is prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

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The Trustees have approved the Strategic Report as well as the Trustees' Report.

The Trustees Report was approved by the Board on 26 February 2024 and signed on its behalf by:

(Satta AlanGH

Page 3

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Independent Examiner's Report to the Trustees of Wyclif Independent Christian Educational Association Limited

I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of Wyclif Independent Christian Educational Association Limited (‘the charitable company’) for the year ended 31 July 2023 which comprise the Statement of Financial Activities, the Balance Sheet - and related notes.

This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company's financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act') and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner's statement.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

‘= accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Mr. RE Thomas BSe FCA

R H Jeffs & Rowe Limited Chartered Accountants Pontypridd

26 February 2024

Page 4

Wyclif Independent Christian Educational Association Limited

Statement of Financial Activities

for the year to 31 July 2023

Notes Notes Total Total
Unrestricted Restricted year to yearto
31/07/23 (31/07/22
£ £ £ £
Income
Incoming resources from charitable activities:
- School Fees 462,006 - 462,006 431,708
Voluntary income:
- Gifts, donations and other income 33,694 7,312 41,006 42,897
Investment income 176 - 176 7
Total Income 495,876 7,312 503,188 474,612
Expenditure
Charitable activities
- School operating costs 3 517,696 7,312 525,008 478,485
TotalExpenditure 517,696 7,312 525,008 478,485
Movement in total funds for the year:
NetIncoming (Outgoing) resources
before transfers (21,820) - (21,820) (3,873)
NetIncoming (Outgoing) resources (21,820) - (21,820) (3,873)
TotalFunds broughtforward 243,589 - 243,589 247,462
TotalFundscarriedforward 221,769 - 221,769 243,589

The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities.

Page 5

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Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Company Registration number 2185224

Balance sheet as at 31 July 2023

2023 2022
Notes £ £ £ £
Fixed Assets
Tangible assets 5 129,714 133,851
Current Assets
Debtors 6 21,301 25,758
Cash atbank and in hand 77,665 91,109
98,966 116,867
Creditors: amounts falling
due within oneyear 7 (6,911) (7,129)
Net Current assets 92,055 109,738
Total Assets Less Current
Liabilities 221,769 243,589
Funds
Unrestricted Funds 9 221,769 243,589
Restricted Funds 9 - -
221,769 243,589

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Page 6

Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Registration number 2185224 Balance sheet (continued)

Directors’ statements required by Sections 475(2) and (3) for the year ended 31 July 2023

In approving these financial statements as trustees of the company we hereby confirm:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Under Companies Act 2006, s454, on a voluntary basis, the trustees can amend these financial statements if they subsequently prove to be defective.

The financial statements were approved by the Board on 26 February 2024 and signed on its behalf by

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A Southgate ~ Directoy
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The notes on pages 9 to 15 form an integral part of these financial statements.

Page 7

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Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Cash flow statement

for the year ended 31 July 2023

2023 2022
Notes £ £
Reconciliation ofoperating loss to net
cash outflow from operating activities
Operating loss (21,820) (3,873)
Depreciation 5,934 5,672
Decrease in debtors 4,457 (9,743)
(Decrease) in creditors (218) (1,176)
Netcash outflow from operating activities (11,647) (9,120)
Cash flow statement
Netcash outflow from operating activities (11,647) (9,120)
Capital expenditure (1,797) (17,023)
Decrease in cash in theyear (13,444) (26,143)
Reconciliation ofnet cash flow to movement in net debt (Note )
Decrease in cash in the year (13,444) (26,143)
Netfunds at 1 August2022 91,109 117,252
Netfundsat31July2023 77,665 91,109

Page 8

Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Notes to the financial statements for the year ended 31 July 2023

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard, applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the School's ability to continue as a going concern for the year to come.

The financial statements are presented in Sterling (£), the company's functional currency, and rounded to the nearest pound.

The company has consistently applied all relevant accounting standards.

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12. Taxation

The School, being a registered charity, is not liable for Tax on its charitable activities.

All income is included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Page 9

Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Notes to the financial statements for the year ended 31 July 2023

The unrestricted funds of the Charity comprise those monies which are available to be used towards the meeting of the charitable objectives of the Charity at the discretion of the Management Committee.

The restricted funds are monies raised or received for a specific purpose and accounted for in accordance with the donors imposed conditions. The school received no restricted funding during the year.

Expenditure is recognised on an accrual basis as a liability incurred. Expenditure includes any VAT which cannot be fully recovered.

School operating costs are those costs incurred in the year for the running of the school and the provision of education throughout the year.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.

1.6. Tangible fixed assets and depreciation

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

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1.7. Pensions

The pension costs charged in the financial statements represent the defined contribution scheme costs payable by the company during the year.

The regular cost of providing retirement pensions and related benefits is charged to the profit and loss account over the employees’ service lives on the basis of a constant percentage of earnings.

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Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Notes to the financial statements for the year ended 31 July 2023

1.8. Debtors

Trade debtors and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any discounts due.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

2.

Net Income 2023 2022
£ £
NetIncome is stated after charging:
Depreciation and otheramounts written offtangible assets 5,934 5,672
Independent Examiners’ remuneration 1,380 1,320
Donations, Gifts & OtherIncome 2023 2022
£ £
Gifts 36,671 65,042
GiftAid 4,335 4,732
41,006 69,774

Page 11

Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Notes to the financial statements for the year ended 31 July 2023

3. Total Expenditure Basis of School Governance Total Total
Allocation Operating Costs year to year to
31/07/23 31/07/22
Costs directly allocated to activities £ £ £ £
Wages and salaries Direct 401,412 - 401,412 357,587
Teaching Materials Direct 12,441 - 12,441 12,250
Books Direct 11,485 - 11,485 15,205
425,338 - 425,338 385,042
Support costs allocated to activities
Rent and maintenance Direct 42,560 - 42,560 36,576
Wages and salaries (Admin) Direct 12,175 - 12,175 9,515
Wages - Pension Contributions Direct 14,076 14,076 12,069
Printing, postage& stationery Direct 4,110 - 4,110 4,112
Telephone Direct 5,488 - 5,488 6,163
Accountancy Direct - 1,380 1,380 1,320
SchoolEvents and Other Direct 13,947 - 13,947 18,016
Depreciation Direct 5,934 - 5,934 5,672
98,290 1,380 99,670 93,443
523,628 1,380 525,008 478,485

Page 12

Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Notes to the financial statements for the year ended 31 July 2023

4. StaffCosts Total Total
year to year to
31/07/23 =31/07/22
£ £
Staffcosts during the Period comprised ofthe following:
StaffSalaries andExpenses 386,938 334,092
Social Security Costs 26,649 33,010
Pension Contributions 14,076 12,069
427,663 379,171

The average number of employees during the Period amounted to 31 (2022 :27), and can be analysed as follows:

Teachers 30 30
Management& Administration 1 1
31 31
No employee was paid £60,000 ormore during the Period.(2022 :nil)
The Trustees received no remuneration or benefits in connection with the performance oftheir duties.
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No employee was paid £60,000 or more during the Period.(2022 :nil)

The Trustees received no remuneration or benefits in connection with the performance of their duties.

No Trustee expenses occured during the year.

No related party transactions have occured during the year.

Page 13

Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Notes to the financial statements for the year ended 31 July 2023

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Land and Property Fixtures,
5. Tangible fixed assets buildings Improvements fittings and
freehold Equipment Total
£ £ £ £
Cost
At 1 August2022 59,680 114,690 12,137 186,507
Additions - - 1,797 1,797
At 31 July 2023 59,680 114,690 13,934 188,304
Depreciation
At 1 August 2022 7,757 34,705 10,194 52,656
Charge for the year 597 4,590 747 5,934
At 31 July2023 8,354 39,295 10,941 58,590
Net bookvalues
At 31 July2023 51,326 75,395 2,993 129,714
At 1 August 2022 51,923 79,985 1,943 133,851
6. Debtors 2023 2022
£ £
OutstandingFees 16,966 11,152
GiftAid due 4,335 14,606
21,301 25,758
7. Creditors: amounts falling due 2023 2022
within one year £ £
Other taxes and social security costs 2,305 2,354
Prepaid Fees 4,606 4,775
6,911 7,129

Page 14

Wyclif Independent Christian Educational Association Limited

Company limited by guarantee

Notes to the financial statements for the year ended 31 July 2023

Profit
8. Reserves and loss
account Total
£ £
At 1 August2022 243,589 243,589
Loss forthe year (21,820) (21,820)
At31 July 2023 221,769 221,769
9. Unrestricted/Restricted Funds
At Incoming Outgoing
Transfers		 At
01/08/22 Resources Resources 31/07/23
£ £ £ £
Unrestricted Funds
-School Operation 243,589 495,876 (517,696) - 221,769
Restricted Funds
-Building Modernisation - 7,312 (7,312) - -
243,589 503,188 (525,008) - 221,769
10. Anatysis ofNet Assets between Funds Total
Unrestricted
£ £
Tangible Fixed Assets 129,714 = 129,714
Current Assets 98,966 98,966
Current Liabilities (6,911) (6,911)
221,769 221,769

11. Company limited by guarantee

The two members of the company, H T Bilton and Dr E R M Saunders, undertake to contribute to the assets of the company, in the event of the company being wound up, such amounts as may be required not exceeding £1 each.

Page 15

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Wyclif Independent Christian Educational Association Limited Company limited by guarantee

Detailed trading profit and loss account

2023 2022
£ £ £ £
Turnover
Fees receivable 462,006 431,708
Donations, Gifts and OtherIncome 41,006 42,897
503,012 474,605
(386,938) (334,092)
Gross profit 23% 116,074 30% 140,513
Employer's NI contributions 26,649 33,010
Pension contributions 14,076 12,069
Rent and maintenance 42,560 36,577
Teaching Materials 12,441 12,250
Books 11,485 15,205
Printing, postage& stationery 4,110 4,112
Telephone 5,488 6,163
School Events and Other 13,947 18,016
Depreciation on freehold property 597 597
Depreciation on property improvements 4,590 4,590
Depreciation on fixtures& equipment TAT 485
Accountancy 1,380 1,320
(138,070) (144,394)
(21,996) (3,881)
Otheroperating income
Fees received as other operating income - 1
- 1
Operating loss 4% (21,996) 1% (3,880)
Otherincome and expenses
Interest receivable
Bank deposit interest 176 7
176 7
Netlossfortheyear (21,820) (3,873)