2021-08-31-accounts

			Page
Chairman's	statement		1-2
Trustees report			3-8
Statement	oftrustees	responsibilities
Independent	auditor's	report	10-13
Statement	offinancial	activities	14
Balance sheet			15
Statement	ofcash flows		16
Notes to the financial		statements	17-33

					Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
					funds	funds		funds	funds
				Notes	2021 f	2021 f	2021	2020 6	2020 8	2020f
	n
Donations and	legacies			3	217,539		217,539	214,347		214,347
Charitable activities				4	199,478		199,478	192,782		192,782
Investments				5	9,291		9,291	11,431		11,431
Other income				6	3,479		3,479	2,610		2,610
Total income					429,787		429,787	421,170		421,170
Raising funds					236		236	72		72
Charitable activities				8	384,506		384,506	460,146		460,146
Other				13		50	50		50	50
Totalresources
expended					384,742	50	384,792	460,218	50	460,268
Net gains/(losses) investments			on	14	86,872		86,872	(21,577)		(21,577)
Net incoming/(outgoing) resources					131,917	(50)	131,867	(60,625)	(50)	(60,675)
Other recognised			gains and		losses
Other gains or	losses			15	59,321		59,321	3,236		3,236
Net movement		in	funds		191,238	(50)	191,188	(57,389)	(50)	(57,439)
Fund balances		at 1
September 2020					2,347,329	100	2,347,429	2,404,718	150	2,404,868
Fund balances		at	31
August 2021					2,538,567	50	2,538,617	2,347,329	100	2,347,429

						2021	2020
					Notes	F
Fixed assets
Tangible assets					16	638,035		652,214
Investment	properties				17	1,210,000		1,210,000
Investments					18	500,104		407,186
						2,348,139		2,269,400
Current assets
Debtors						11,037	10,831
Cash at bank and		in	hand			297,625	260,366
						308,662	271,197
Creditors:	amounts		falling due within
one year					20	(32,868)	(26,089)
Net current	assets					275,794		245,108
Total assets less		current liabilities				2,623,933		2,514,508
Creditors:	amounts		falling due after
more than	one year				21	(85,316)		(167,079)
Net assets						2,538,617		2,347,429
Capital funds
Endowment	funds	- general			22	50		100
Income funds
~Ut id	d t d
General unrestricted			funds			1,648,326	1,446,185
Revaluation	reserve					890,241	901,144
						2,538,567		2,347,329
						2,538,617		2,347,429
The financial statements				were approved	by the Trustees	on ...............Y........

				2021		2020
			Notes	6		6
Cash flows from operating		activities
Cash generated from/(absorbed by)			28
operations					34,014		(64,455)
Investing	activities
Purchase	of investments			(83,887)		(91,193)
Proceeds	on disposal of investments			77,841		83,485
Investment	income received			9,291		11,431
Net cash	generated from investing
activities					3,245		3,723
Net cash	used in financing	activities
Net increase/(decrease) in		cash and cash
equivalents					37,259		(60,732)
Cash and	cash equivalents	at beginning	ofyear		260,366		321,098
Cash and	cash equivalents	at end ofyear			297,625		260,366

Donations	and legacies
		Unrestricted	Unrestricted
		funds	funds
		2021	2020
		6	6
Donations	and gifts	217,239	213,047
Legacies receivable		300	1,300
		217,539	214,347
Donations	and gifts
Church donations		20,388	17,788
Griffiths Trust		195,761	193,924
Personal		880	1,234
Other		210	101
		217,239	213,047

		2021	2020
		6	5
Rental	income	64,933	88,493
Fees		134,545	104,289
		199,478	192,782

	Unrestricted	Unrestricted
	funds	funds
	2021	2020
		E
Dividends	9,275	10,607
Interest receivable	16	824
	9,291	11,431

Unrestricted	Unrestricted
funds	funds
2021	2020
6
3,479	2,610

	Unrestricted	Unrestricted
	funds	funds
	2021	2020
		f'
Advertising	236	72
	236	72

				2021	2020
	Staff costs			186,557	222,814
	Depreciation	and impairment		14,179	14,179
	Catering			1,332	3,380
	Student support costs				110
	Books			1,224	2,358
	Library			6,012	7,924
	Prizes			500	400
	Pension Liability Interest Charge			1,908	3,958
				211,712	255,123
	Grant funding	ofactivities (see note 9)		5,920	11,044
	Share ofsupport costs (see note 10)			162,344	189,779
	Share ofgovernance		costs (see note 10)	4,530	4,200
				384,506	460,146
9	Grants payable
				2021	2020
				6	5
	Grants to individuals			5,920	11,044
				5,920	11,044

10	Support costs	Support costs
			Support	Governance	2021	Support	Governance	2020
			costs	costs		costs	costs
			5	f
	Staff costs		59,838		59,838	41,063		41,063
	Operating	lease charges	1,848		1,848	1,888		1,888
	Telephone		882		882	832		832
	Printing &	stationery	4,634		4,634	4,583		4,583
	Heat, light	and water	15,000		15,000	19,495		19,495
	Cleaning		12,385		12,385	18,086		18,086
	Insurance		13,038		13,038	12,934		12,934
	Professional fees		12,118		12,118	8,933		8,933
	Sundry		10,810		10,810	14,403		14,403
	Amenities	&training	165		165	8,387		8,387
	Travel &conference
	expenses		1,499		1,499	3,955		3,955
	Repairs and renewals		30,127		30,127	55,220		55,220
	Audit fees			4,530	4,530		4,200	4,200
			162,344	4,530	166,874	189,779	4,200	193,979
	Analysed	between
	Charitable	activities	162,344	4,530	166,874	189,779	4,200	193,979

The average	monthly number ofemployees duding	the year was:
		2021	2020
		Number	Number
Teaching staff
Administrative	staff
Employment	costs	2021	2020
			5
Wages and salaries		190,545	209,820
Social security	costs	20,671	21,132
Other pension	costs	35,179	32,925
		246,395	263,877

				Endowment	Endowment
				funds	funds
				general	general
				2021	2020
Anne	Rendeg	Prize	Fund	50	50
				50	50

Net gainsl(l	osses) on investments
		tlnrestricted	Unrestricted
		funds	funds
		2021	2020
Revaluation	ofinvestments	86,872	(21,577)

15	Other gains	or losse	s
				Unrestricted		Unrestricted
				funds		funds
				2021		2020
					6	f
	Gain on pension scheme			(59,321)		(3,236)
16	Tangible fixed assets
				Freehold	land	and bniidingaf
	Cost
	At 1 September 2020					708,930
	At 31August	2021				708,930
	Depreciation	and impairment
	At 1 September 2020					56,716
	Depreciation	charged	in the year			14,179
	At 31August	2021				70,895
	Carrying amount
	At 31August	2021				638,035
	At 31August	2020				652,214

18	Fixed asset i	nvestme	nts
				Listed	Cash in	Total
				investments	portfolio
				8
	Cost or valuation
	At 1 September 2020			395,852	11,334	407,186
	Additions			83,887	(83,887)
	Valuation changes			86,872		86,872
	Cash movement				6,046	6,046
	Disposals			(78,487)	78,487
	At 31August	2021		488,124	11,980	500,104
	Carrying amount
	At 31August	2021		488,124	11,980	500,104
	At 31August	2020		395,852	11,334	407,186
19	Debtors
	Amounts falling due		within one year;		2021	2020f
	Prepayments	and accrued income			11,037	10,831
20	Creditors: amounts		falling due within one year
					2021	2020
					5	8
	Other taxation	and social security			5,821	5,005
	Accruals and	deferred	income		27,047	21,084
					32,868	26,089

				2021	2020
				6	6
Accruals	and	deferred	income	85,316	167,079

The amoun	ts repayable are as follows:
		2021	2020
		6	E
Repayable	within two and five years	85,045	79,465
Repayable	in more than five years	271	%Jib
		QRZQ	167079

							Movement
							in funds
				Balance st	Resources	Balance at	Incoming	Balance at
			1	September	expended	1September	resources	31August
				2019 F		2020f		2021 5
	Pension Scheme Gift			16,666	(16,666)
				16,666	(16,666)
	The trustees	agreed to	designate additional	voluntary	payments to	the Pension	Scheme of	550,000. The
	final payment was made		in 2019/20.
24	Analysis ofnet assets		between funds
			Unrestricted Endowment		Total Unrestricted		Endowment	Total
			funds	funds		funds	funds
			2021	2021	2021	2020	2020	2020
			6	6	5	5	5	5
	Fund balances at 31
	August 2021 are
	represented	by:
	Tangible assets		638,035		638,035	652,214		652,214
	Investment	properties	1,210,000		1,210,000	1,210,000		1,210,000
	Investments		500,104		500,104	407,186		407,186
	Current assets/
	(liabilities)		275,744	50	275,794	245,008	100	245,108
	Long term liabilities		(85,316)		(85,316)	(167,079)		(167,079)
			2,538,567	50	2,538,617	2,347,329	100	2,347,429

The key assumptio	ns underlying the valua	tion were as foll	ows:
T offinancial	assumption		%pa
RPI price inflation	assumption		3.20
CPI price inflation	assum tion		2.70
Minimum Pensionable Income increases		RPI)	3.20
Assumed investment returns
- Pre-retirement			2.95
-Post retirement			1.70
Deferred pension	increases
-Pre April 2009			3.20
-Post Apdil 2009			2.50

Pension increases
- Main Scheme pension Pre April 2006	2.70
Main Scheme pension Post April 2006	2.00

movement in the provisio	n is set ou	t in the t	able below.
Accounting date (year	ending):		31August 2021	31August 2020
Balance sheet liability at	year start		5182,041	F205,309
Minus deficiency contfiibutions paid			-617,181	&18,491
Interest cost (recognised	in SoFA)		61,908	62,745
Remaining change to	balance	sheet	-659,320	-67,523
liability' (recognised in SoFA)
Balance sheet liabili at	ear end		5107,447	f182,041

has been valued using payments:	the f	ollowing as	sumptions set by re	ference to the duration	of the deficit recovery
Accounting date			31August 2021	31August 2020	31August 2019
Discount rate			0.9%	1.1%	1.4%
Future increases	to	Minimum	3.6%	3.1%	3.4%
Pensionable Income

							2021f	2020
	Within one year						1,540	1,848
	Between two and five years							1,540
							1,540	3,388
28	Cash generated from operations						2021f	2020
	Surplus/(deficit) for the year						131,867	(60,675)
	Adjustments for:
	Investment income recognised	in statement			offinancial	activities	(9,291)	(11,431)
	Pension scheme gains and losses						59,321	3,236
	Fair value gains and losses on	investments					(86,872)	21,577
	Depreciation and impairment oftangible			fixed assets			14,179	14,179
	Difference between pension charge and			cash contributions			(74,594)	(17,768)
	Movements in working capital:
	(Increase)/decrease in debtors						(206)	786
	{Decrease)/increase in creditors						(390)	1,194
	(Decrease) in deferred income							(15,553)
	Cash generated from/(absorbed		by) operations				34,014	(64,455)