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||||Page|
|---|---|---|---|
|Letter from the Chair of Governors||||
|Report ofthe|Governors
and Strategic Report||3to 22|
|Report ofthe|Independent
Auditor||23to 26|
|Statement of|Consolidated
Financial|Activities|27|
|Consolidated|and company
balance|sheets|28|
|Consolidated|Cash Flow Statement||29|
|Notes to the|Consolidated
Cash Flow Statement||30|
|Notes to the|Financial Statements||31to 44|
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|Harfford
Northwich
Cheshire
CW8 1LU
Governors|||||||
|---|---|---|---|---|---|---|
|N Brou
harn|||Consultin
Actua||||
|J W Sim son|||Chartered
Surve
r||||
|M Newsholme|||Chartered
Accountant||||
|NA Ja atilake|||Communi
Paediatrician||||
|T Brocklebank|||Consultant||||
|J Llewell
n|||Chief Financial
Officer||||
|A Rae|||Inde
endent Advisor||||
|TSher|||TV Executive||||
|V Fleetwood|||La
er||||
|SBe|||Architect||||
|T Pollard|||Headteacher —retired||||
|Oliver Matthews|||Finance Professional
A||ointed 8e June 2022||
|Phili
Tabb|||Mana
in
Director
A|ointed8'" June 2022|||
|Helen Go|ill||HR Professional
A
ointed 8'" June 2022||||
|Sarah E lin|||HR Professional
A
ointed 8e June 2022||||
|The following|Governors|served|during the financial year and have subsequently||resigned||
|D Akka|||Com
an
Director
Resi||ned8eA|ril2022|
|EArnot|||HR Consultant
/ Director|(Resigned||8'" June|
||||2022||||
|N Parkinson|||IT Programme/Project
Manager (Resigned 8'"||||
||||June 2022||||
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||||||2022|2021|
|---|---|---|---|---|---|---|
||||||Total|Total|
||||||Unrestricted|Unrestricted|
||||||funds|funds|
|||||Note|E|E|
|INCOME FROM:|||||||
|Charitable
activities|||||||
|School fees|||||12,683,034|11,909,266|
|Ancillary
trading
income|||||1,293,043|1,046,989|
|Other trading
activities|||||||
|Non-Ancillary
trading|income||||178,419|77,708|
|Investment
income|||||17,920|1,512|
|Total incoming
resources|||||14172416|13535475|
|EXPENDITURE ON:|||||||
|Raising funds|||||||
|Cost of activities for generating|||funds||87,781|55,203|
|Charitable
activities|||||||
|Education|||||12,794,282|11,616,364|
|Total expenditure|||||12,882,063|11,671,567|
|NET INCOMING RESOURCES|||||1,290,353|1,363,908|
|Other recognised
gains|||||||
|Movement
in valuation||on interest rate swap|||352,020||
||||||1 642373|1 363908|
|RECONCILIATION
OF||FUNDS|||||
|Total funds brought|forward||||25,494,556|24,130,648|
|TOTAL FUNDS CARRIED FORWARD|||||RL136929|25494~|
##
|||Consolidated|Consolidated||Schooi|
|---|---|---|---|---|---|
||Notes|||||
|||2022|2021|2022|2021|
|||8||6||
|FIXEDASSETS||||||
|Tangible assets|12|24,745,839|24,909,377|24,745,839|24,909,377|
|Fixed asset investments|13|||1|1|
|||24,745,839|24,909,377|24,745,840|24,909,378|
|CURRENT ASSETS||||||
|Stocks|14|16,706|10,951|16,706|10,951|
|Debtors: amounts
falling due within one|15|569,003|185,601|606,083|211,208|
|year||||||
|Cash at bank and in hand||7,150,566|6,196,873|7,043,209|6,138,148|
|||7,736,275|6,393,425|7,665,998|6,360,307|
|CREDITORS: due within one year|16|(2,193,778)|(2,212,265)|(2,188,372)|(2,201,576)|
|NET CURRENT ASSETS||5,542,497|4,181,160|5,477,626|4,158,731|
|TOTAL ASSETS LESSCURRENT||30,288,336|29,090,537|30,223,466|29,068,109|
|LIABILITIES||||||
|CREDITORS: due after more than one|17|(3,151,407)|(3,595,981)|(3,151,407)|(3,595,981)|
|year||||||
|NET ASSETS||27,136,929|25,494,556|27,072,059|25,472,128|
|TOTAL UNRESTRICTED FUNDS|23|27,136,929|25,494,556|27,072,059|25,472,128|
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|||||2022|2021|
|---|---|---|---|---|---|
||||Note|||
|Net cash inflow from operations||||||
|Net cash provided|by operating|||||
|activities||||2,311,116|2,647,944|
|Cash flows from|investing|||||
|activities||||||
|Interest received||||17,920|1,512|
|Interest paid
Purchase oftangible
fixed assets||||(100,719)
~799624,|(92,148)
~486,872|
|||||(882,423)|(577,508)|
|Cash flows from|financing|||||
|activities||||||
|New loan in the year
Loan repayments
in the year||||~475,666|~475859|
|||||(475,000)|(475,000)|
|Change
in cash and cash||||953,693|1,595,436|
|equivalents
in the reporting||||||
|period||||||
|Cash and cash equivalents||at the||6,196,873|4,601,437|
|beginning
ofthe|period|||||
|Cash and cash equivalents||at the|2|||
|end ofthe period||||7,150,566|6,196,873|
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|ACTIVITIES|||||
|---|---|---|---|---|
||||2022|2021|
|Net incoming
resources|||1,290,353|1,363,907|
|Depreciation
charges|||962,372|931,519|
|(Profit)/loss
on sale ofassets|||790||
|Interest received|||(17,920)|(1,512)|
|Interest paid|||100,719|92,148|
|(Increase)/decrease|in stocks||(5,754)|(4,180)|
|Decrease/(increase)|in debtors||(31,382)|66,056|
|Increase/(decrease)|in creditors||11,938|200,006|
|Net cash inflow from operating||activities|2,311,116|2,647,944|
|ANALYSIS OF CASH AND CASH EQUIVALENTS|||||
||||2022|2021|
|||||E|
|Cash at bank|||7,150,566|6,166,673|
##
|||At 1 September|Cash flow|At 31August|
|---|---|---|---|---|
|||2021||2022|
|||E||E|
|Cash|at bank|6,196,873|953,693|7,150,566|
|Bank|loan due in less than one year|(475,000)||(475,000)|
|Bank|loan due in greater than one year|(3,443,750)|475,000|(2,968,750)|
|||2,278,123|1,428,693|3,706,816|
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||||2022|2021|
|---|---|---|---|---|
||Commission|on school photographs|1,653|1,432|
||Lettings||131,855|74,927|
||Theatre income||44,911|1,349|
||||178,419|77,708|
|3.|INVESTMENT INCOME||||
||||2022|2021|
||Deposit account interest||17,920|1,512|
||||~17 2||
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|||||2022|2021|
|---|---|---|---|---|---|
|||||E|F|
|Gross|Fees|||13,681,684|12,862,512|
|Less:|fee assistance,|discounts|and scholarships|~998650|~953246|
|Total|School fees|||||
##
||2022|2021|
|---|---|---|
||6||
|Catering
income|552,736|403,040|
|Bus income|315,586|239,193|
|Fees Refund Scheme|33,813|34,129|
|Sundowners|202,028|85,622|
|Speech and drama|62,800|64,787|
|Registration fees|14,549|14,501|
|CJRS income||173,536|
|Other income|111,531|32,181|
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|ANALYSIS|O|F E|XPEND|ITURE|ITURE|ITURE||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||Staff Costs|||Depreciation|Other costs||Total|Total|
|||||||||||2022|2021|
|Charitable||||||||||6||
|expenditure||||||||||||
|Education||||||||||||
|Teaching|||||7,381,861|||768,936|8,150,797||7,482,700|
|Premises|||||433,149||598,154|1,047,314|2,078,617||1,905,132|
|Support and|||||770,943||364,218|464,781|1,599,942||1,473,691|
|governance|costs|||||||||||
|Welfare|||||341,512|||621,082||962,594|753,404|
|Grants, awards||&||||||2332||2 332|1,437|
|prizes||||||||||||
||||||8,927,465||962,372|2,904,445|12,794,282||11,616,364|
|GOVERNANCE COSTS INCLUDED||||||IN SUPPORT COSTS||||||
|||||||||2022f|||2021|
|Staff costs||||||||20,380|||19,383|
|Legal and|professional fees|||||||91,345|||57,694|
|Auditors
Remuneration||||—Audit||||12,960|||10,506|
|Auditors
Remuneration
Other governance
costs||||—Non-Audit||||1,074
~3107|||5,783
6764|
|NET INCOMING|||RESOURCES|||||||||
|Net incoming||resources are|||stated after charging:|||||||
||||||||||2022||2021|
||||||||||8||F|
|Operating|lease costs —land||||and buildings||||||5,500|
|Operating|lease costs - equipment||||||||14,606||19,626|
|Depreciation||-owned assets||||||962,372|||931,519|
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|STAFF COSTS||||||||
|---|---|---|---|---|---|---|---|
||||||2022|2021||
||||||K|||
|Wages and salaries|||||7,027,141|6,568,035||
|Social security costs|||||681,298|597,954||
|Other pension costs|||||1,171,802|1,118,997||
||||||8,880,241|8284|888|
|Aggregate
employee|benefits|of key|management
personnel||52213|~11||
|The average
monthly|number|ofemployees||during the year was as|follows:|||
||||||2022|2021||
|Teaching|||||167||158|
|Administration|||||22||23|
|Catering,
cleaning
and maintenance|||||69||67|
|Trading subsidiary|||||5||4|
||||||263||252|
|The average
monthly|number|ofemployees||on a full time equivalent|basis during
the year was:|||
||||||2022|2021||
|Teaching|||||135||133|
|Administration|||||22||22|
|Catering,
cleaning
and maintenance|||||43||42|
|Trading company|||||1||1|
||||||201||198|
|The number of higher|paid employees||in bands of:-|||||
||||||2022|2021||
|F60,000to K69,999|||||1|1||
|f70,000 tof79,999||||||||
|F80,000to889,999||||||||
|L90,000 to899,999|||||2|1||
|8130,000tof139,999||||||||
|K140,000to F149,999||||||||
##
|12.
TANGIBLE|FIXEDASSETS —CONSOLIDATED AND|FIXEDASSETS —CONSOLIDATED AND|FIXEDASSETS —CONSOLIDATED AND|SCHOOL|SCHOOL||||
|---|---|---|---|---|---|---|---|---|
|||Freehold|Assets
In||Fixtures and|Motor|||
|||Property
E|course of
construction||Fittingsf|Vehicles
E||Totals
E|
|||||E|||||
|COST|||||||||
|At 1 September|2021|32,468,769|102,973||6,373,239|160,357|39,105,338||
|Disposals|||||(58,452)|||(58,452)|
|Additions|||212 985||586640|||799625|
|At 31 August 2022|||~18||5991427||||
|DEPRECIATION|||||||||
|At 1 September|2021|9,191,289|||4,866,020|138,652|14,195,961||
|Charge for the year||544,895|||401,187|16,291||962,373|
|Disposals|||||~57662|||~57662|
|At 31 August 2022|||||||15|100672|
|NET BOOK VALUE|||||||||
|At 31 August 2022||22~72~5|||||||
|At 31 August 2021||||||21 7|||
|13.
FIXEDASSET INVESTMENTS|||||||||
|||||||Investment||in|
||||||||subsidiary||
||||||||company||
##
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##
|||Consolidated|Consolidated|School|School|
|---|---|---|---|---|---|
|||2022|2021|2022|2021|
|||||E|E|
|Fees outstanding||15,590|33,334|15,290|33,334|
|Amounts
owed by group undertakings||||42,223|30,144|
|Other debtors||70,601|73,200|65,758|68,663|
|Interest rate swap||352,020||352,020||
|Prepayments
and accrued|income|130792
56RQQ3|79067
~|130792
~|79067
~211 2|
|CREDITORS: AMOUNTS|FALLING DUE WITHIN ONE||YEAR|||
|||Consolidated||School||
|||2022|2021|2022|2021|
|||||E|5|
|Bank loans and overdrafts||475,000|475,000|475,000|475,000|
|(see note 18&19)||||||
|Trade creditors||359,409|451,117|359,409|451,117|
|Social security and other taxes||171,332|162,553|169,437|157,212|
|Other creditors||149,496|183,174|145,985|177,826|
|Deferred income —fees in advance||238,650|235,540|238,650|235,540|
|Accrued expenses||799891|704881|799891|704 881|
|||~19
7|4~65|||
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|CREDITORS: AMOUNTS
FALLING D|UE AFTER MORE THAN ONE YE|UE AFTER MORE THAN ONE YE|AR|||
|---|---|---|---|---|---|
||Consolidated|||School||
||2022|2021|2022||2021|
||8||E||8|
|Bank loans (see notes 18&19)|2,968,750|3,443,750|2,968,750||3,443,750|
|Deferred income —fees in advance|182657
~7|152231
~1|182|657|152231|
##
||||Consolidated||School||
|---|---|---|---|---|---|---|
||||2022|2021
6|2022|2021f|
|Bank|loans|3|443750||3443750|~17 0|
##
|An analysis ofthe maturity|of|loans is given below:|||
|---|---|---|---|---|
||||2022|2021|
||||8||
|Amounts
falling due within|one year or on demand:||||
|Bank loans|||475,000|475,000|
|Amounts
falling between|one|and two years:|||
|Bank loans - 1-2years|||475,000|475,000|
|Amounts
falling due between||two and five years:|||
|Bank loans - 2-5years|||1,425,000|1,425,000|
|Amounts
falling due after|more than 5years:||||
|Bank loans more than 5years|||1,068,750|1~543,750|
##
##
|The future
minimum
lease payments
under non-canc|ellable
operating
leases are as follows:||
|---|---|---|
||Other operating|leases|
||2022|2021|
|||6|
|Less than one year|15,502|14,090|
|Between two and five years|10,686|10,648|
|After five years||8523|
##
|upils
will|remain
in the Sc|hool, fees in advance
will be app|lied as follows:||
|---|---|---|---|---|
||||2022|2021|
||||8||
|After 5years||||23,349|
|Within two to five years|||102,629|85,684|
|Within one to two years|||80,028|43,199|
||||182,657|152,232|
|Within one year|||101,456|93,073|
||||284,113|245,305|
|Summary|ofmovements|in liability||8|
|Balance|at 1 September|2021||245,305|
|New contracts||||157,917|
|Contracts|refunded||||
|Amounts|used to pay fees|||(119,109)|
|Balance|at 31August 2022|||284,113|
##
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|Group||||At 1|||Transfers|At 31|
|---|---|---|---|---|---|---|---|---|
|||||September|Incoming|Resources|between|August|
|||||2021|resources|expended|funds|2022|
|||||||F|6||
|Unrestricted||funds|||||||
|General|fund|||25,494,556|14,524,436|(12,882,063)||27,136,929|
|Total funds||||25,494,556|14,524,436|12,882,063||27,136,929|
|School||||At 1|||Transfers|At 31|
|||||September|Incoming|Resources|between|August|
|||||2021|resources|expended|funds|2022|
||||||6|||8|
|Unrestricted||funds|||||||
|General|fund|||25,472,128|14,396,522|(12,796,591)||27,072,059|
|Total funds||||25,472,128|14,396,522|12,796,591||27,072,059|
|ALLOCATION|||OF ASSETS - GROUP||||||
|||||Tangible fixed|Net current|Long term|Total|Total|
|||||assets|assets|liabilities|2022|2021|
|||||K|6|||8|
|Unrestricted||funds||24,745,839|5,542,497|3,151,407|27,136,929 25,494,556||
##
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|At the balan|ce|sheet date, the company
had capital co|mmitments
as follows:||
|---|---|---|---|---|
||||2022|2021|
||||8|5|
|Contracted|for|W IFI hardware||63,323|
|School Hall|redevelopment||37,249||
|Contracted|for|minibus
purchase|39,258||
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|||||2022|2021|
|---|---|---|---|---|---|
|||||E|E|
|Financial|assets measured|at amortised cost (a)||7,236,757|6,362,474|
|Financial|assets measured|at fair value (b)||352,020||
|Financial|liabilities measured|at amortised|cost (c)|4 752 546|5257 922|