||||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|
##
##
##