2021-08-31-accounts - William Jones's Schools Foundation

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Legal and administrative	details
Trustees' report
Independent auditors'	report		18
Consolidated statement	offinancial	activities
Balance sheets			22
Consolidated cash flow statement			23
			25

*	AW Twistan-Davies (Chairman) ¹(restgned 31		R P IVliners¹
*	December 2021j P M Alderman IV)rs E Ashford IVlrs J M Booth Prof R J Carwardine Mra SClaytan (resigned 31 December 2021) T Haden-Scott ¹. M Kerrigan (resigned 31August 2021) Dr S Honeywill (appninted1 Dctcber2021) A IVlohirtdru QC (appcinted 1 Dctcber 2021)	*	Mrs H Moriarty Lard Moynihan ¹(appointed 10 December 2021) Councillor R G Roden (resigned 5 May 2022) Mrs R F Rose Mrs L A Russen N AJ Waters Dr R A Weeks I A de Weymarn Mrs R Williams
	N G H Manna

nrestricted Fund	s
Fund		Fund represents		Balance at 31 August
				2021
				6'000
Schools' Cyclical Re air Fund		To provide for scheduled major cyclical maintenance		371
Assisted Pisces
Reserve and Monmouth School for		To provide bursaries and assisted places		666
Girls Bursar Fund
Governors' pension reserve		To enable the Governois to maintain regular funding the closed non-teachin staff ension scheme.	for	34
Prospectus and recruitment reserves		To provide for cyclical expenditure on these items Total Schools desi nated funds		166 1 237
Schools' general	funds	To maintain no reserve in these funds, subject to ade uate cash flow for the schools' normal o erations		(140)
Pension scheme	fund	This reflects the trustees' best estimate of the deficit on the pension scheme at 31 August 2020. The deficit will be paid off over a number ofyears, in accordance with a recovery plan which has been agreed between the		(150)
		Foundation and scheme trustees following the completion
		of the triennial valuation as at 31 March 2018(see note
		12for further details . Total Schools funds		290
Foundation income fund		Net income is distributed to the Schools Governors derring the year and the fund balance remaining at the year end
		re resents re aid ex enditure.
Non-charitable trading funds		Net reserves of trading subsidiaries at year end Total unrestricted funds		(6) 1,031

Year ended 31 August	2	021
			Unrestricted	Funda		Permanent		Total	Total
				Foundation	Restricted	endowment
		Note	Schools K'000	Income F'000	Funda F'000		fund 9'000	2021 E'000	2020 f.'000
Income and endowments	from:
Donations and legacies					498			498	175
Charitable activities:
School fees Ancillary trading income		3	18,323 499					18,323 499	17,304 945
Other income - coronavirus job retention scheme			351						942
Other trading activities:. Trading income			689					589	845
Investments: Investment 1ncome		2	104	6	21			131	125
FRS102pension scheme interest Other income		2	44 209					44 209	47 108
			20,119	6	519			20,644	20,49'I
Expenditure on:
Raising funds: Loan interest Fees in advance discount Trading costs of subsidiaries			317 65 803					317 65 803	328 49 999
Charitable activities: Schools			21,900	248	266		908	23,322	22,724
FRS 10?pension scheme interest cost			50					50	57
			23,135	248	266		908	24,557	24,157
Net (expenditure)/income before gains on investments			(3,016)	(242)	253		(908)	(3,913)	(3,666)
Net gains on investments		7	235	8	74		18,779	19,096	2,216
Net (expenditure)/income			(2,781)	(234)	327		17,871	15,183	(1,450)
Transfers between funds		5	1,814	200	(150)		(1,864)
Other recognised gains:
Actuarial gains on defined benefit schemes		12	198					198	85
Net movement in funds			(769)	(34)	177		16,007	'l5,381	(1,365)
Reconciliation of Funds: Total funds brought forward			1,710	124	998		119,691	122,523	123,888
Total funds carried forward		5	941	90	1,175		135,698	137,904	122,523

As at 31August 202		1
							Group		Foundation
						Note	2021	2020	2021	2020
							8'000	6'000	6'000	F'000
Fixed assets: Tangible assets Investments						6 7	43,222 102,285	44,312 85, 146	43,214 102,285	44,312 85,146
Investment in subsidiary	company					16			90
Unsecured loan to William Jones'					s
Almshouses Charity
Unsecured loans 'lo connected companies				trading					62
							145,508	129,460	145,652	129,505
Current assets: Stocks Debtors Investments: cash on deposit Cash at bank and in hand							187 1,050 4,788 3,808	232 1,049 10,603	26 1,151 4,788 3,623	30 1,190 10,500
							9,833	11,884	9,588	11720
Liabilities;
Creditors: amounts falling within one year		due				10	(5,730)	(5,172)	(5,623)	(5,052)
Net current assets							4,103	6,712	3965	6668
Total assets less current			liabilities				149,611	136,172	149,617	136,173
Creditors: amounts falling than one year			due		after more	11	(11,557)	(13,241)	(11,557)	(13,241)
							138,054	122,931	138,060	122,932
Defined benefit pension		scheme			liability	12	(150)	(408)	(150)	(408)
Total net assets							137,904	122,523	137,910	122,524
The Funds of the Charity: Permanent endowment fund Restricted fun ds							135,698 1,175	119,691 998	135,698 1,175	119,691 998
Unrestdicted funds: Designated funds General funds							1,237 (50)	1,237 1,006	1,237 (50)	1,237 1,006
Non-charitable trading Pension scheme fund		funds					(6) (150)	(1) (408)	(150)	(408)
Total Charity Funds						5	137,904	122,523	137,910	122,524

					2D21	2021	2020	202D
					5'000	5'000	f.'000	F'000
Net cash used in operating	activities					(2,897)		(1,958)
Cash flows from investing	activities:
investment income received					131		125
Purchase oftangible fixed assets					(317)		(294)
Proceeds from sale of investments					834
Purchase of investments					(1,367)		(450)
Drawn from Charities Investment		Pool (Total Return)			2,500		1,750
Net cash provided by investing		activities				1,781		1,131
Cash flows from financing	activities:
Repayments ofborrowing					(891)		(914)
Receipts of borrowing							5,000
						(891)		4,086
Change in cash and cash reporting period	equivalents		in the			(2,007)		3,259
Cash and cash equivalents reporting period	at the	beginning		of the		10,603		7,344
Cash and cash equivalents reporting period	at the end ofthe					8,596		10,603

ASH PROVDED BY/(USED	IN)	OPER	ATING ACTIVITIES
				202'I	2020
				6'000	6'000
Net movement in funds (per	Statement		of Financial Activities)	15,381	(1,365)
Adjustments for: Gains on investments Investment income Depreciation Pension scheme adjustment Decrease/(increase) in stocks (Decrease)/increase in creditors Decrease in debtors		and provisions		(19,096) (131) 1,407 (258) 45 (235)	(2,216) (125) 1,437 (141) (34) 179 306
(Increase)/decrease in cash	held	for investment		(1D)	1
Net cash used in operating	activities			(2,897)	1,958

SIS OF CASH AND CASH EQUIVALENTS
	2021	2020
	L'000	8'000
Cash at bank Investments	3,808 4,788	10,603
Total cas'h and cash equivalents	8,596	1D,603

SIS	OF CHANGES Ihi hlET FUNDS/NET (DEBT	)
		At 1		At 31
		September 2020	Cash flows	August 2D2'I
		5'000	5'000	6'000
Cash Cash Loans Loans	in hand equivalents falling due within ane year falling due after more than one year	10,603 (890) (9,530)	(6,795) 4,788 (738) 1,629	3,8DB 4,788 (1,628) (7,901)
Tl		183	(1,116)	(933)

					Permanent
			Unrestncted	Restricted	Endowment	Total	Total
			Fund 8'DDD	Fund F'DDD	Fund 6'000	2021 6'000	2020 8'000
interest from Income from	bank listed	deposits investments	7 103	21		7 124	32 93
Distributions	from	Haberdashers'
Char	ties Investment		Pool
(Total Return)
			110			131	125
FRS102 pension		scheme interest	44			44	47
			154	21		175	172

				202'I	202D
				F'000	8'000
Gross Fees				21,459	20,D42
Less Scholarships Bursaries Assisted places (a bursary scheme Staff fee remission		replacing a former State-funded	scheme)	(469) (1,686) (48) (934)	(414) (1,391) (83) (850)
Commission
				18,323	17,304
Numbers of pupils benefiting	from:			227	232
Scholarships				304	311
Bursaries				48	8
Assisted places

4. TOTAL RESOURCE	S E
			Other
		Staff	direct		Total	Total
		costs E'000	casts E'000	Depreciation E'000	2021 E'ODO	2020 E'000
Raising funds: Loan interest Fees in advance discount Trading costs of subsidiaries		57	317 65 737		317 65 803	338 49 999
		57	1,119	9	1 185	1 376
Charitable expenditure: Teaching costs School welfare School premises costs Supportcosts Governance costs		10,573 1,387 1 538 1,874 24	1,678 857 3080 818 95	462 28 908	12,713 2,272 5,526 2,692 119	13,034 2,101 4,822 2,663 104
FRS102pension scheme	interest costs		50		50	57
		15,396	6,578	1,398	23,372	22,781
Total resources expended		15,453	7,697	1,407	24,557	24,157
					2021	2020
					E'000	E'DOG
Charitable expenditure includes: Remuneration of Schools' auditors for audit services Remuneration of Foundation's auditors for audit services Payment to the Habeidashers' Company for service charges					30 15	34 10 18

costs inclu Icosts.	de administratio	n and gr	ounds staff, establishment	costs, proessona ,
				2021	2020
				E'000	E'000
Staff costs comprised: Wages and salaries Social security costs Pension contributions				12,152 1,152 2,039	12,278 1,154 2,064
Payment of	Haberdashers'	Company	staff under	110	112
paymaster	arrangement
				15,453	15,607

No remune	ration or reimburse	d	expe	nses were pa	id to the Trustees or to	any ofthe Schools' Go	vernors.
						2021	2020
						6'000	6'000
Aggregate	employee-benefits	of	key	management	personnel	916	1,066

e number
	2021	2020
	No.	No.
Teaching staff Other staff	265 289	278 286
	554	564

mbers of higher paid employees earning in excess	ofF60,000were:
	2021	2020
	No,	No.
F60,001 to F70,000 f70,001 to F80,000 6100,001 to 61I0,000 $110,001 to 6120,000 6240,001 to F250,000	5 3 2 1 1	5 2 2
6250,001 to F260,000		1
F270,001 to 6280,000

5.	STATEMENT OF FUND MOV	EMENTS AN	D TRANSF	ERS	ERS
(a)	Fund movements	Balance 1		Other recognised			Balance 31
		September 2020 f'000	Income f'DDD	Expenditure f'000	gains/ (losses) f'000	Net Transfers f'000	August 2021 f'000
	Designated funds: Schools cyclical repairs Assisted places reserve Prospectus reserve Recruitment reserve Pensions reserve	371 666 114 22 64		(630) (55)		630 10 20 25	371 666 '!24 42 34
		'l,237		(685)		685	1,237
	General funds—
	Foundation: Schools Foundation Income Fund Pension scheme fund	882 124 (408)	19,486 6 44	(21,597) (248) (50)	235 8 198	854 200 66	(140) 90 (150)
		598	19,536	(21,895)	441	1,120	(200)
	Total unrestricted funds— Foundation Non-charitable trading funds	1,835 (1)	19,536 589	(22,580) (803)	441	1,805 209	1,037 (6)
	Tatal unrestricted funds- Graup	1,834	20 125	(23,383)	441	2,014	1,031
	Restricted funds Schaols scholarship funds	319	32	(27)		(50)	274 3
	Pre-Prep 8. Nursery grant Pre-Prep 8, Nursery bursary Girls school other Bays Pavikan Fund Boys VVeltness fund David Support Fund Extraordinary repair fund Stephensan awards	3 33 627 16	7 10 320 100 30 20	(7) (202) (30)	74	(100)	43 118 721 'I6
	Total restricted funds	998	519	(266)	74	(150)	1,175
	Permanent endowment fund	1'I9,691		(908)	18,779	(1,864)	135,698
	Total Funds	122,523	2D,644	(24,557)	19,294		137,904

Transfers between funds	Non- charitable	Charitable			Permanent
	trading funda E'000	unrestricted funds F'000	Designated funda K'000	Restricted funds 8'000	endowment fund S'000
Transfer from unapplied Total Return		2,700			(2,700)
Funding from schools for new buildings		(836)			836
Additions to cydicai maintenance reserves		(630)	630
Recruitment reserve		(20)	20
Wellness reserve		100		(100)
Prospectus reserve Scholarship awards		(10) 50	10	(50)
Provision for assisted
places		(47)
Assisted places provision used		47	(47)
Addition to governors' general resenre		(25)	25
Bus company supplement	237	(237)
Trading companies payment under gift aid	(28)	28
	209	1,'I20	685	(150)	(1,864)

TANGIBLE FIXEDASS	ETS
Foundation and Group	Freehold land and buildings f'000	Equipment and furnishings f'000	Motor vehicles f'000	Charity total f.'000	Subsidiary companies equipment f'000	Group Total f'000
Cost 1 September 2020 Additions Disposals	57,122 195	4,916 122 (291)	299	62,337 317 (291)	128	62,465 317 (291)
31 August 2021	57,317	4,747	299	62,363	128	62,491
Depreciation 1 September 2020 Charge for year Disposals	15,290 908	2,493 471 (291)	259 19	18,042 1,398 (291)	111 9	18,'I 53 1,407 (291)
3'I August 2021	16,198	2,673	278	19,149	120	19,269
Net book value 31 August 2021	41,119	2,074	21	43,214	8	43,222
31 August 2020	41,832	2,423	40	44,295	17	44,312


7.	INVESTMENTS
	Foundation and Group					2021 F'000	2020 E'000
(a) (b) (c)	Listed investments Haberdasheis' Charities Investment cash	Investment		Pool (Total Return)		3,658 98,526 101	2,816 82,247 83
						102,285	85,146
(a)	Listed investments Foundatfon and Group				Extraordmary repair fund	Governors Investment fund	Total
					5'000	5'000	F'000
	Market value at 1 September Acquisitions at cost Disposals		2020		663 20	2,153 1,347 (834) 235	2,816 1,367 (834) 309
	Net gain on revaluation
	Market value at 31 August		2021		757	2,901	3,658

nvestm	ent in Haberdashers' Charities Investment Poo	l (Total eturn)
		2021	2020
Foundation and Group		F'000	F'000
Market Vlfithdrewa Net gain	value at 1 September 2020 le on revaluation	82,247 (2,500) 18,779	81,875 (1,750) 2,122
Miarket	value at 31 August 2021	98,526	82,247

endowment fund. No ne	w endowme	nt gi	fts have	been received	since the base	date.
				Trust for	Unapplied Total	Total	Total
				investment	Return	2021	2020
				6'000	8'000	F'000	8'000
Trust for investment at 1	September	2020		6,314	76,965	83,279	83,107
Investment returns: Realised and unrealised investment Transfer to trust for application		gains			18,779 (2,700)	18,779 (2,700)	2,122 (1,950)
Trust for investment at	31August	2021		6,314	93,044	99,358	83,279
DEBTORS AND PREPAYIIIIENTS
				Group 2021 2020		Foundation 2021 2020
				8'000	8'000	F'000	F'000
Prepayinents Other debtors School fees Due from subsidiary companies				242 244 564	383 242 424	242 205 564 140	383 220 424 163
				1,050	1,049	1,151	1,190
CREDITORS.' AMIOUNTS FAI-LING DUE WITHIN ONE YEAR
				Group 2021 2020		Foundation 2021 2020
				F'000	6'000	6'000	K'000
Bank)cans School fees in advance and confirmation Taxation and social security Other creditors Accruals and deferred income			deposits	1,628 2,678 276 873 275	890 2,572 370 911 429	1 628 2,678 276 766 275	890 2,572 370 79'I 429
				5,730	5,172	5,623	5,052

Assumpti	ons		As at 31 August 2021	As at 31 August	As at 31 August 2019
Oiscount	rate		1.5'/c	1.6'%%d	1.8'/a
Inflation			3.74/o	3 40/	3.0'/o
Increases (statutory	to deferred revaluation)	pensions before retirement	3 0D/	2.4'/o	2.0'/s

summarised below:	,
						As at	As at
Life expectancy from	age 65years					31 August 2021	31 August	2020
Retiring today	Ivlale Female					22.3 24.3	22,2 242
Retiring in 20 years	Male Female					24,1 26.1	24,0 26.0
							2021	2020
The amounts recognised in the		statement	offinancial position				f.'000	F'000
Present value of	funded	obligations	(excluding		pravision	for additional	3,191	3,210
liabilities) Fair value of plan	funds						(3,041)	(2,802)
Net defined benefit	liability	ss recognised		in the	Balance	Sheet	150	408
							2021	2020
The amounts recognised in		the income statement					6'000	6'000
Net interest cast								10
Total pension expense								10

				2021	2D20
The amounts in the statement ofother recognised		gains and losses		E'000	E'DDD
Actuarial gain on plan assets Actuarial loss on defined benefit obligation				295 (97)	194 (109)
Total gain/(loss) in statement of other recognised			gains and losses	198	85
				2D21	2020
Changes in the present value ofthe defined	benefit	obligation		E'000	E'000
Liabilities at the start ofthe period Interest cost Actuanal gain Benefits paid				3,210 50 97 (166)	3,252 57 109 (208)
Liabilities at the end ofthe period				3,191	3,210
				2021	2020
Changes in the fair value of plan assets				E'000	F'000
Fair value of plan assets at the start of the Interest income Actuarial gain Contributions by the employer Benefits paid	period			2,802 44 295 66 (166)	2,703 47 194 66 (208)
Fair value of plan assets at the end ofthe period				3,041	2,802
				2021	2020
Analysis of return on plan assets				E'DDD	E'000
Interest income Actuarial gain on plan assets				44 295	47 194
Return on plan assets				339

lajor categor	ies	of plan	assets	as a percent	age oftotal asset	s
					Proportion	Value of	Proportion	Value of
					of portfolio	assets	of portfolio	assets
					31 August 2021	31 August 2021	31 August 2020	31 August 2020
						CODD	0/	CODD
Equity Annuities Bonds Alternative Cash					59.0 21.8 10.4 3.5 5.4	1,794 662 316 105 164	51.7 25.2 15.5 3.3 4.3	1,448 706 435 92 121
Total market	value ofassets				100,0	3,041	100.0	2,802
							2021	2020
Reconciliation		offunds					F'000	6'000
Total funds excluding Pension deficit			pension	deficit			'I38 054 (150)	122931 (408)
Tota! funds		including	pension	deficit			137,904	122,523

ANALYSIS OF GROUP NET ASSETS B	ETWEEN FUND	S
			Permanent
	Unrestricted	Restricted	Endowment	Total
	Funds	Funds	Funds	Funds
	CODD	C000	CODD	CODD
Tangible fixed assets Fixed asset investments	2,103 3,000	769	41,119 98,526	43,222 102,285
Loan to William Jones's Almshouse
Charity Net current assets Creditors due after more than one year Defined benefit pension scheme	3,484 (7,406) (150)	416	1 203 (4,151)	1 4,103 (11,557) (150)
	1,031	1,175	135,698	137,904

TRADING SUBSIDIA	RIES (continued)
A summary oftrading	results and balance	sheets for the trading		subsidiaries	is shown below:
	IvISEL		HII/ISGEL		Bus Company
	2021 6'000		2021 6'000	2020 F'000	2021 F'000	2020 6'000
Turnover Cost of sales Administmtion expenses	258 (176) (78)	457 (286) (184)	121 (73) (28)	156 (87) (25)	211 (446) (2)	231 (413) (3)
Operating profit/(loss) Subsidy from schools		(13)	20		(237) 237	(185) 185
Interest receivable
Transfer to the
Foundation (DoC)			(28)	(44)
Retained profit/(loss)
for the year		(13)	(8)
Share capita! issued Reserves b/f	90 (10)		8	8
Reserves c/f	84	(10)
Fixed assets Current assets	8 379	16 186	4	147
Creditors falling due within one year Unsecured loan	(303)	(212)	58 (62)	(77) (62)	(2)	(4)
Net assets	84	(10)

				Unrestricted	Funds		Permanent	Total
					Foundation	Rsstdictsd	Endowinent
				Schools	Income	Funds	fund	2020
				6'OOO	F'000	6'000	r.'ooo	F'000
income and endowments		from:
Donations								175
Chantable activities:
School fees				17,304				17,304
Ancilliary trading	income			945				945
Other income —coronavirus			job
retention scheme				942				942
Other trading actiwties:
Trading income				845				845
Investments:
investment income				88	15	22		125
FRS102pension	scheme	interest		47				47
Other income				108				108
				20,279	15	197		20,491
Expenditure on:
Raising funds:
Loan interest				328				328
Fees in advance	discount			49				49
Trading costs of subsidiaries				999				999
Charitable expenditure:
Schools				21,470	204	146	904	22,724
FRS 102 pension	scheme		interest
cost				57				57
				22,903	204	146	904	24,157
Net (expenditure)/income			before
gains on investments				(2,624)	(197)	51	(904)	(3,666)
Net gains on investments				65		29	2,122	2,216
Net (expenditure)/income				(2,559)	(197)	80	1,218	(1,450)
Transfers between funds				864	200	(33)	(1,031)
Other recognised	gains:
Actuarial gains on defined		benefit
schemes				85				85
Net movement in	funds			(1,610)		47	187	(1,365)
Reconciliation of	Funds:
Total funds brought	forward			3,3,20	113	951	119,504	123,888
Total funds carried forward				1,710	124	998	119,691	122,523

18. IN	VES	TME	NT	INCOME FOR THE YE	AR ENDED 31 AUG	UST 2020
							Permanent
					Unrestricted	Restricted	Endowment	Total
					Fund	Fund	Fund	2020
					8'000	E'000	8'000	E'000
Interest	from	bank deposits			31	1		32
Income	from	listed		investments	72	21		93
Distributions		from	Haberdashers'
Charities	Investment			Pool (Total Return)
					103	22		125
FRS102pension			scheme interest		47			47
					150	22		172

		Other direct		Total
	Staff costs	costs	Depreciation	2020
	F'000	8'000	8'000	6'000
Raising funds:
Loan interest		328		328
Fees in advance discount		49		49
Trading casts of subsidiaries	105	894		999
	105	1,271		1,376
Charitable expenditure:
Teaching costs	'I0,999	1,553	482	13,034
School welfare	1,250	817	34	2,101
School premises costs	1,457	2,461	904	4,822
Support costs	1,776	886	1	2663
Governance costs	20	84		104
FRS102pension scheme interest costs
	'I5,502	5,860	1,421	22,781
Total resources expended	15,607	7,129	1,421	24,157

Fund movements			Balance			Other		Balance
			1			recognised		31
			September 2019	Income	Expenditure	gains/ (losses)	Net Transfers	August 2020
			6'000	F'000	6'000	6'000	6'000	6'000
Designated funds:
Schools cyclical repairs			252		(382)		500	371
Boys schoo! capital	projects		118				(1'l9)
Girls school bursary	fund		61				(61)
beavers deposits			22				(22)
Assisted places reserve			603				61	666
Prospectus reserve			104				10	114
Recruitment reserve			2				20	22
Governors reserve							(1)
Pensions reserve			80		(41)		25	64
			1,242		(423		413	1,237
General funds—
Foundation:
Schools			2,816	19,382	(21,424)	65	243	882
Foundation Income	Fund		113	15	(204)		200	124
Pension scheme fund			(549)	47	(57)	85	66	(408)
			2,180	19,444	(21,685)	150	609	598
Total unrestricted	funds—
Foundation			3,422	19,449	(22,108)	150	922	1,835
Non-charitable trading		funds	11	845	(999)		142	(1)
Total unrestricted	funds—
Group			3,433	20,294	(23,107)	150	1,064	1,834
Restricted funcfs
Sc:hools scholarship	fund		319	100	(79)		(49)	319
Pre-Prep & Nursery	grant		8		(5)			3
Pre-Prep & Nursery Girls school other	bursary			7 17	(7)		16	33
Walker Memorial Fund				1	(3)
Covid Support Fund Extraordinary repair	fund		577	62 20	(52)	29		626
Stephenson awards			16					16
Total restricted funds			951	197	(146)	29	(33)	998
Permanent endowment
fund			119,504		(904)	2,122	(1,031)	119,691
Tote I Funds			123,888	20,491	(24,157)	2,301		122,523

Transfers	between	funds	funds		Non-
					charitable	Chantable			Permanent
					trading	unrestricted	Designated	Restricted	endowment
					funds	funds	funds	funds	fund
					6'000	6'000	8'000	E'000	5'000
Transfer	from unapplied		Total
Return						1,950			(1,950)
Funding	from schools for			new
buildings						(919)			919
Additions	to cyclical
maintenance reserves-						(500)	500
Recruitment reserve						(20)	20
Laavers	deposits						(22)	22
Capital projects reserve						118	(118)
Prospectus reserve						(10)	10
Scholarship awards						55		(55)
Provision	for assisted places					(83)	83
Assisted	places provision			used		83	(83)
Addition	to governors'		pension
reserve						(23)	23
Bus company supplement					186	(186)
Trading	companies	payment
under gift aid					(44)
					142	509	413	(33)	(1,031)

					Trust	Unapplied
					for	Total	Total
					investment	Return	2020
					f'000	5'000	F'000
Trust for investment		at 1	September	2018	6,314	76,793	83,107
Investment	returns:
Investment	income
Realised and unreaiised			investment	gains		2,122	2,122
Transfer to	trust for application					(1,950)	(1,950)
Trust for investment		at	31August	2019	6,314	76,965	83,279

					Permanent
			Unrestricted	Restricted	Endowment	Total
			Funds	Funds	Funds	Funds
			K'000	EOOO	E'000	E'000
Tangible	fixed assets		2,480		41,832	44,312
Fixed asset		investments	2,234	665	82,247	85,146
Loan to William Jones's Almshouse
Charity					2	2
Net current		assets/(liabilities)	5,989	333	390	6,712
Creditors due after more than one year			(8,461)		(4,780)	(13,241)
Defined	benefit pension scheme		(408)			(408)
			1,834	998	119,691	122,523