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2022-08-31-accounts

Pages
Trustees'
Annua
I Report		 2 to 9
Independent
Auditor's		 Report to the members ofTerra Nova School Trust Limited 10to 13
Statement
of Fina ncia I Activities		 14
Balance Sheet 15
Statement
ofCash flows		 16
Notes to the Accounts 17to 29
Reference and administrative Reference and administrative Reference and administrative details
Registered charity name Terra Nova School Trust Limited
Charity registration number 525919
Company registration number 00554799
Principal office and registered Terra Nova School
office Jodrell Bank
Holmes Chapel
Cheshire
CW4 8BT
The trustees
W F DSillar Chair (Retired 22 March 2022)
M J Grice Vice Chair
ESStanley
AC Dick
M A Boulton
A R Peak
E J Lees-Jones Chair (Appointed 22 March 2022)
K Campbell
J P Standen
L ETulloch (Appointed 1November 2023)
Company secretary E C Kidston
Senior Statutory Auditor: Stuart Banks FCA
Auditor Banks Sheridan (Statutory Auditor)
Datum
House
Electra Way
Crewe
CW1 6ZF
Accountant Bruce Marshall and Co.
The Old Fuel Depot
Twemlow
Lane
Twemlow
Green
Cheshire
CW4 8GJ
Bankers National
Westminster		 Bank PLC
10Great Underbank
Stockport
Cheshire
SK1 1LL

for the year ended 31August 2022
Unrestricted Restricted
funds funds Total funds Total funds
2022 2022 2022 2021
Notes
Income and endowments
from:
Donations and legacies 316 316 39,551
Other trading
activities		 3,861,361 3,861,361 3,437,453
Investments 564 564 143
Other 17,486 17,486 39,956
Total 3,879,727 3,879,727 3,517,103
Expenditure on:
Charitable activities 10 4,549,317 4,549,317 3,598,907
Other 5,875 5,875 6,512
Total 4,555,192 4,555,192 3,605,419
Net gains on investments
Net expenditure 12 (675,465) (675,465) (88,316)
Transfers
between
funds		 21,217 (21,217)
Incoming
resources		 39,619 39,619
Net expenditure
before other		 gains/(losses) (654,248) 18,402 (635,846) (88,316)
Other gains and losses
Net movement
in funds		 (654,248) 18,402 (635,846) (88,316)
Reconciliation
offunds:
Total funds brought forward 2,180,949 294,732 2,475,681 2,563,997
Total funds carried forward 1,526,701 313,134 1,839,835 2,475,681

Notes 2022 2021
f f
Fixed assets
Tangible assets 16 1,865,407 1,928,095
1,865,407 1,928,095
Current assets
Stocks 17 136 19,496
Debtors 18 179,352 250,903
Cash at bank and in hand 817,710 1,277,875
997,198 1,548,274
Creditors: Amount falling due within one year 19 (990,394) (966,664)
Net current assets 6,804 581,610
Total assets less current liabilities 1,872,211 2,509,705
Creditors: Amounts falling due after more than one year 20 (32,376) (34,024)
Net assets excluding pension asset or liability 1,839,835 2,475,681
Total net assets 1,839,835 2,475,681
The funds ofthe charity
Restricted funds
Restricted
income funds		 313,134 294,732
313,134 294,732
Unrestricted
funds
General funds 1,526,701 2,180,949
1,526,701 2,180,949
Total funds 1,839,835 2,475,681
for the year ended 31Aug ust 2022
2022 2021
f f
Cash flows from operating activities
Net deficit per Statement of Financial Activities (635,846) (88,316)
Adjustments
for:
Depreciation
of property,
plant and equipment		 143,010 135,129
Impairment 171,792
Interest
paid		 3,269
Decrease/(Increase)
in		 stocks 19,360 (11,710)
Decrease/(Increase)
in		 trade and other receivables 71,551 (41,977)
(Increase)/Decrease
in		 trade and other payables (21,963) 134,150
Net cash used in operating activities (248,827) 127,276
Cash flows from investing activities
Payments
for property,		 plant and equipment (203,849) (173,571)
Net cash used in investing activities (203,849) (173,571)
Cash flows from financing activities
Repayments
ofobligations
under finance		 lease and hire (7,489)
purchase
contracts
Net cash from financing
activities		 (7,489)
Net decrease
in cash and		 cash equivalents (460,165) (46,295)
Cash and cash equivalents at the beginning ofthe year 1,277,875 1,324,170
Cash and cash equivalents at the end ofthe year 817,710 1,277,875

Income
Recognition of Income from contracts for the supply of services
is included
in		 the Statement
of
income Financial
Activities
(SoFA) when
the
charity
becomes
entitled		 to, and
virtually
certain to receive, the income and the amount ofthe income can be measured
with
sufficient
reliability.
Income with related Where
income
has related
expenditure
the income
and
related		 expenditure
is
expenditure reported
gross in the SoFA.
Voluntary
income received
by way of grants, donations
and gifts		 is included
in the
Donations and the SoFA when receivable
and
only when the Charity has unconditional
entitlement
legacies to the income.
Investment income This is included
in the accounts when receivable.
Expenditure
Recognition of Expenditure
is recognised
on an accruals basis. Expenditure
includes		 any VAT which
expenditure cannot be fully recovered,
and
is reported
as part of the expenditure
to which
it
relates.
Expenditure on These comprise the costs associated
with attracting
voluntary
income, fundraising
raising funds trading costs and investment
management
costs.
Expenditure on These comprise
the costs incurred
by the Charity
in the delivery		 of its activities and
charitable activities services
in the furtherance
ofits objects, including the making of		 grants and governance
costs
Governance costs These include those costs associated
with meeting the constitutional		 and statutory
requirements
of the Charity,
including
any audit/independent		 examination
fees,
costs linked to the strategic
management
ofthe Charity, together		 with a share of
other administration
costs.
Other expenditure These are support costs not allocated to a particular
activity.

Unrestricted Restricted
funds funds Total funds
2021 2021 2021
Income and endowments from:
Donations and legacies 39,551 39,551
Other trading activities 3,437,811 (358) 3,437,453
Investments 143 143
Other 39,956 39,956
Total 3,517,461 (358) 3,517,103
Expenditure on:
Charitable activities 3,598,907 3,598,907
Other 6,512 6,512
Total 3,605,419 3,605,419
Net income (87,958) (358) (88,316)
Transfers
between		 funds 21,217 (21,217)
Net income before other gains/(losses) (66,741) (21,575) (88,316)
Other gains and losses:
Net movement in funds (66,741) (21,575) (88,316)
Reconciliation of funds:
Total funds carried forward (66,741) (21,575) (88,316)
6 Income from donations and legacies
Unrestricted Total Total
2022 2021
f
Donations 316 316 39,551
316 316 39,551

7 Income from other tra ding activities
Unrestricted Total Total
2022 2021
Gross fees 4,350,404 4,350,404 3,865,457
Allowances,
bursaries		 and grants (489,043) (489,043) (641,142)
Other income 208,304
Letting income 4834
3861361 3861361 3437463
8 Income from investments
Unrestricted Total Total
2022 2021
Bank interest receivable 143
143
9 Other income
Unrestricted Total Total
2022 2021
Grants 17,486 17,486 39,956
17,486 17,486 39,956
10 Expenditure
on charitable		 activities
Unrestricted Total Total
2022 2021
Education costs 1,090,069 1,090,069 484,351
Other interest payable 3,269 3,269
Employee costs 2,583,021 2,583,021 2,376,350
Motor and travel costs 34,731 34,731 30,331
Premises costs 359,921 359,921 281,232
Amortisation, depreciation, impairment, profit/loss on 143,010 143,010 135,128
disposal offixed assets
General administrative costs 152,856 152,856 158,853
Legal and professional costs 182,440 182,440 132,662
4,549,317 4,549,317 3,598,907

11 Other expen diture
Total Total
2022 2021
Governance costs 5,875 6,512
5,875 6,512
12 Net expenditure
before transfers
2022 2021
This is stated after charging: f f
Depreciation ofowned fixed assets 143,010 135,128
Auditors'
remuneration		 4,000 4,400
13 Staff costs 2022 2021
Salaries and wages 2,072,344 1,929,691
Social security costs 192,988 173,868
Pension costs 314,385 269,699
Other employee
benefits		 3,304 3,092
2,583,021 2,376,350
Salaries bands:
E110,000 - f119,999
The average monthly number of full time equivalent employees during the year was as follows:
2022 2021
Number Number
82 79

16 Tangible fixed assets
Land and Fixtures, Motor Capital Total
buildings fittings & Vehicles Work in
equipment
f		 progress
f
Cost or revaluation
At 1September 2021 2,826,807 850,304 29,330 152,441 3,858,882
Additions 187,907 64,207 252,114
Transfers 15,367 29,489 (216,648) (171,792)
At 31August 2022 2,842,174 1,067,700 29,330 3,939,204
Depreciation and impairment
At 1September 2021 1,348,800 553,649 28,338 1,930,787
Depreciation charge for the year 81,626 60,964 420 143,010
At 31August 2022 1,430,426 614,613 28,758 2,073,797
Net book values
At 31August 2022 1,411,748 453,087 572 1,865,407
At 31August 2021 1,478,007 296,655 992 152,441 1,928,095
Tangible fixed assets with a carrying value of f43,200 have been pledged
as security		 for the company's
hire purchase loan.
17 Stocks
2022 2021
Raw materials and consumables 136 19,496
136 19,496
18 Debtors
2022 2021
Trade debtors 82,770 75,204
Other debtors 860 100,000
Prepayments and accrued income 95,722 75,699
179,352 250,903
2022 2021
19 Creditors:
amounts falling due within one year
Obligations
under finance lease and hire purchase		 contracts 8,400
Trade creditors 72,643 132,043
Sureties 138,500 141,977
Other taxes and social security 94,956 85,775
Other creditors 41,523 46,380
Accruals 49,775 59,084
Fees paid in advance 584,597 501,405
990,394 966,664
20 Creditors:
Amounts falling due after more than one year 2022 2021
Deferred income 34,024
Obligations
under finance lease and hire purchase		 contracts 32,376
32,376 34,024

Incoming
At 1 resources Resources Gross At 31
September (including expended Transfers August
2021 other gains/ 2022
losses)
Restricted funds:
Restricted income funds:
Old Appeals 93,939 (5,098) 88,841
Centenary 78,669 (10,022) 68,647
Kennedy Fund 76,320 (2,120) 74,200
SENCO 32,868 (865) 32,003
Bursary Donations 12,936 5,595 (3,112) 15,419
Timpson Fund 34,024 34,024
Total 294,732 39,619 (21,217) 313,134
Unrestricted funds:
General funds 2,180,949 3,879,727 (4,555,192) 21,217 1,526,701
Total funds 2,475,681 3,919,346 (4,555,192) 1,839,835

Analysis of net assets between funds
Unrestricted
funds Total
f f
Fixed assets 1,865,407 1,865,407
Net current assets 6,804 6,804
Creditors due in more than one year and provisions (32,376) (32,376)
1,839,835 1,839,835

At 1 At 31August
September Cash Flows 2022
2021
f
Cash and cash equivalents 1,277,875 (460,165) 817,710
1,277,875 (460,165) 817,710
Obligations under HP/Finance leases (4o,77e) (40,776)
(4o,77e) (40,776)
Net debt 1,277,875 (500,941) 776,934

2022 2021
Other Other
Operating leases with expiry date:
Within one year 21,695 23,505
In the second to fifth year inclusive 7,802 29,497
29,497 53,002