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|||||Page|
|---|---|---|---|---|
|Reference and administrative|||details ofthe Charity, its Trustee and advisers||
|Trustee's
report||||2-7|
|Independent|auditor's|report|on the financial statements|8-11|
|Consolidated|statement|offinancial activities||12|
|Consolidated|balance sheet|||13-14|
|Charity balance sheet||||15-16|
|Consolidated|statement|ofcash flows||17|
|Notes to the|financial statements|||18-46|
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|||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2021|2021|2021|2020|
||||Note|F|6|6||
|Income from:||||||||
|Donations
and legacies|||5|15,318|1,019,784|1,035,102|1,231,471|
|Charitable
activities|||6|7,239,467|877,706|8,117,173|7,389,691|
|Other trading
activities|||7||269,152|269,152|613,162|
|Investments|||8||483|483|753|
|Total income||||7,254,785|2,167,125|9,421,910|9,235,077|
|Expenditure
on:||||||||
|Charitable
activities|||9|?,336,598|2,640,105|9,976,703|9,752,564|
|Total expenditure||||7,336,598|2,640,105|9,976,703|9,752,554|
|Net expenditure
before||net losses on||||||
|investments||||(81,813)|(472,980)|(554,?93)|(517,487)|
|Net losses on investments|||||(946)|(946)|(27)|
|Net movement
in|funds before other|||||||
|recognised
gains/(losses)||||(81,813)|(473,926)|(555,739)|(517,514)|
|Other recognised|gains/(losses):|||||||
|Actuarial (losses)/gains||on defined||||||
|benefit pension schemes||||(249,000)||(249,000)|252,000|
|Net movement
in|funds|||(330,813)|(473,926)|(804,739)|(265,514)|
|Reconciliation
of|funds:|||||||
|Total funds brought|forward|||20,646,481|3,321,185|23,967,666|24,233,160|
|Net movement
in funds||||(330,813)|(473,926)|(804,739)|(255,514)|
|Total funds carried forward||||20,315,668|2,847,259|23,162,927|23,967,655|
##
||||||CONSOLIDATED|CONSOLIDATED|BALANCE SHEET|||
|---|---|---|---|---|---|---|---|---|---|
|||||||AS AT 31AUGUST 2021||||
||||||||2021||2020|
|||||||Note|6||5|
|Fixed assets||||||||||
|Tangible assets||||||14|25,386,281||23,830,056|
|investments||||||15|11,004||11,950|
||||||||25,397,285||23,842,006|
|Current assets||||||||||
|Stocks||||||16|8,597|4,065||
|Debtors||||||17|341,390|587,888||
|Cash at bank and in hand|||||||1,055,791|3,018,456||
||||||||1,405,778|3,610,410||
|Creditors: amounts|falling||due within||one|||||
|year||||||18|(966,386)|(1,215,851)||
|Net current assets|||||||439,392||2,394,549|
|Total assets less current|||liabilities||||25,836,677||26,236,555|
|Creditors: amounts|falling||due after||more|||||
|than one year||||||19|(429,750)||(500,889)|
|Net assets excluding||pension||liability|||25,406,927||25,735,656|
|Defined benefit pension||scheme||liability|||(2,244,000)||(1,768,000)|
|Total net assets|||||||23,162,927||23,967,666|
|Charity funds||||||||||
|Restricted funds:||||||||||
|Restricted funds excluding|||pension||asset|21|22,559,668|22,414,481||
|Pension reserve||||||21|(2,244,000)|(1,758,000)||
|Total restricted funds||||||21|20,315,668||20,646,481|
|Unrestricted
funds||||||21|2,847,259||3,321,185|
|Totalfunds|||||||23,162,927||23,967,666|
##
##
||||CHARITY BALANCE SHEET|CHARITY BALANCE SHEET|||
|---|---|---|---|---|---|---|
||||AS AT 31|AUGUST 2021|||
|||||2021||2020|
||||Note|E||5|
|Fixed assets|||||||
|Tangible assets|||14|21,805,743||22,372,704|
|Investments|||15|11,004||11,950|
|||||21,816,747||22,384,654|
|Current assets|||||||
|Stocks|||16|8,597|4,066||
|Debtors|||17|128,466|95,867||
|Cash at bank and|in hand|||326,099|506,956||
|||||463,162|506,889||
|Creditors: amounts|falling due within one||||||
|year|||18|(488,800)|(583,766)||
|Net current liabilities||1assets||(25,638)||23,123|
|Total assets less|current liabilities|||21,791,109||22,407,777|
|Creditors: amounts|falling due after more||||||
|than one year|||19|(429,750)||(500,889)|
|Net assets excluding||pension asset||21,361,359||21,906,888|
|Total net assets||||21,361,359||21,906,888|
|Charity funds|||||||
|Restricted
funds|||21|20,524,868||17,847,332|
|Unrestricted
funds|||21|836,491||4,059,556|
|Total funds||||21,361,359||21,906,888|
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##
|||||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|funds|
|||||||2021|2021|2021|
|||||||F|5|5|
|Donations||&|grants|||15,318|62,159|77,477|
|Parental|voluntary|||contributions|||831,506|831,506|
|Job retention|||scheme grants||||||
|GIR aid|||||||126,119|126.119|
|||||||15,318|1,019,784|1,035,102|
|||||||Restricted|Unrestricted|Total|
|||||||funds|funds|funds|
|||||||2020|2020|2020|
||||||||5||
|Donations||&|grants|||30,461|131,068|161,529|
|Parental|voluntary|||contributions|||741,801|741,801|
|Government|||grants||||164,294|164,294|
|Tax refund|||||||163,847|163,847|
|||||||30,461|1,201,010|1,231,471|
|Income from|||charitable||activities||||
|||||||Restricted|Unrestricted|Total|
|||||||funds|funds|funds|
|||||||2021|2021|2021|
|||||||5|5|5|
|Operation||of|the schools|||7,239,467|877,706|8,117,173|
|||||||Restricted|Unrestricted|Total|
|||||||funds|funds|funds|
|||||||2020
f|2020
6|2020
5|
|Operation||of|the schools|||6,637,068|752,623|7,389,691|
##
##
##
##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2021|2021|
|||E|f.|
|Income from gala|dinner|4,162|4,162|
|Other fundraising|activities|264,990|264,990|
|||269,152|269,162|
|||Unrestricted|Total|
|||funds|funds|
|||2020|2020f|
|Income from gala|dinner|8,210|8,210|
|Other fundraising|activities|804,952|604,952|
|||613,182|613,182|
##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2021|2021|
|||E|6|
|Investment|income|483|483|
|||Unrestricted|Total|
|||funds|funds|
|||2020|2020|
||||6|
|Investment|income|753|753|
##
##
##
||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2021|2021|2021|
|||||E|E|
|Operation|ofthe|school|7,336,598|2,640,105|9,976,703|
||||Restricted|Unrestricted|Total|
||||funds|funds|funds|
||||2020|2020|2020|
||||E|E||
|Operation|ofthe|school|7335528|2417036|9,752,584|
##
||||Activities|||
|---|---|---|---|---|---|
||||undertaken|Support|Total|
||||directly|costs|funds|
||||2021|2021|2021|
|||||E|E|
|Operation|ofthe|school|6,902,502|3,074,201|9,976,703|
||||Activities|||
||||undertaken|Support|Total|
||||directly|costs|funds|
||||2020|2020|2020|
|||||E|E|
|Operation|ofthe|school|6978,822|2,775,742|9,752 564|
##
##
##
|||Operation||
|---|---|---|---|
|||ofthe|Total|
|||school|funds|
|||2021|2021|
|||E|6|
|Staff costs||5,743,241|5,743,241|
|Educational|materials|602,294|602,294|
|Food & meal|costs|476,653|476,653|
|Trips||32,597|32,587|
|Travel costs||719|719|
|Bus donations||27,785|27,785|
|Teacher training||9,416|8,416|
|Other direct|costs|9,797|9,797|
|||6,902,502|6,902,502|
|||Operation of|Total|
|||the school|funds|
|||2020|2020|
|||8|5|
|Staff costs||5,780,532|5,780,532|
|Educational|materials|676,245|676,245|
|Food 8 meal|costs|356,417|356,417|
|Trips||101,784|101,784|
|Travel costs||240|240|
|Bus donations||12,500|12,500|
|Teacher training||39,077|39,077|
|Other direct|costs|10,027|10,027|
|||6,976,822|6,976,822|
##
##
##
##
|||Operation||
|---|---|---|---|
|||ofthe|Total|
|||school|funds|
|||2021|2021|
|||E|6|
|Staff costs||492,122|492,122|
|Depreciation||629,972|629,972|
|Governance||45,958|45,958|
|Security and transport||541,870|541,870|
|Repair costs||93,296|93,296|
|Light &heat||155,127|155,127|
|Loan interest||6,560|6,560|
|Cleaning||253,099|253,099|
|Printing,
postage and|stationery|26,257|26,257|
|Bank charges and interest||(41,193)|(41,193)|
|Insurance||83,085|83,085|
|Sundries||70,997|70,997|
|Telephone||21,606|21,606|
|Recharge ofexpenses||578,994|578,994|
|Legal and professional|fees|116,451|116,451|
|||3,074,201|3,074,201|
##
##
##
##
|Analysis ofsupport|costs (continued)|||
|---|---|---|---|
|||Operation of|Total|
|||the school|funds|
|||2020|2020|
||||8|
|Staff costs||571,363|571,363|
|Depreciation||621,884|621,884|
|Governance||37,610|37,610|
|Security and transport||156,286|156,28S|
|Repair costs||116,556|116,556|
|Light & heat||228,387|228,387|
|Loan interest||9,651|9,651|
|Cleaning||165,609|165,609|
|Printing,
postage and|stationery|32,925|32925|
|Bank charges and interest||9,514|9,514|
|Insurance||102,990|102,990|
|Sundries||98,460|98,460|
|Telephone||53,434|53,434|
|Recharge ofexpenses||430,892|430,892|
|Legal and professional|fees|140,181|140,181|
|||2 775,742|2,775,742|
##
|2021|2020|
|---|---|
|E|6|
|23,000|21,550|
##
##
|Staff costs||||||||
|---|---|---|---|---|---|---|---|
||||Group||Group|Charity|Charity|
||||2021||2020
f|2021
6|2020|
|Wages and salaries|||4,851,143|4,941,584||494,054|543,516|
|Social security costs|||399,294|400,005|||29,935|
|Contribution|to defined contribution|pension||||||
|schemes|||984,926|1,010,205||12,259|18,020|
||||6,235,363|5,351,895||506,313|591,47f|
|The average|number of persons employed||by the Charity during|the|year was as follows:|||
|||||||Group|Group|
|||||||2021|2020|
|||||||No.|No.|
|Teaching||||||96|97|
|Educational|Support|||||48|51|
|Administration||||||6|8|
|Premises||||||3|6|
|Management||||||3|3|
|LNSLA||||||5|5|
|||||||161|170|
|Group|Group|
|---|---|
|2021|2020|
|No.|No.|
##
##
##
##
##
||Freehold|Motor|Fixtures|Computer|Assets under||
|---|---|---|---|---|---|---|
||property
E|vehicles
6|and fittings
6|equipment
6|construction
6|Total
6|
|Cost or valuation|||||||
|At 1 September|||||||
|2020|29,044,454|37,180|1,054,069|433,660|10,365|30,579,728|
|Additions||18,995|||2,167,199|2,186,194|
|At 31August 2021|29,044,454|56,175|1,054,069|433,660|2,177,564|32,765,922|
|Depreciation|||||||
|At 1 September|||||||
|2020|5,438,890|29,744|953,074|327,964||6,749,672|
|Charge for the year|580,887|8,702|15,149|25,231||629,969|
|At 31August 2021|6,019,777|38,446|968,223|353,195||7,379,641|
|Net book value|||||||
|At 31August 2021|23,024,677|17,729|85,846|80,465|2,177,564|25,386,281|
|At 31August 2020|23,605,564|7,436|'l00,995|105,696|10,365|23,830,056|
##
##
##
##
||Freehold|Fixtures and|Computer||
|---|---|---|---|---|
||property|fittings|equipment|Total|
||F|5|F||
|Cost or valuation|||||
|At 1 September 2020|27,590,718|498,337|5,130|28,094,185|
|At 31August 2021|27,590,718|498,337|5,130|28,094,185|
|Depreciation|||||
|At 1 September 2020|5,319,009|397,342|5,130|5,721,481|
|Charge for the year|551,812|15,149||566,961|
|At 31August 2021|5,870,821|412,491|5,130|6,288,442|
|Net book value|||||
|At 31August 2021|21,719,897|85,846||21,805,743|
|At 31August 2020|22,271,709|100,995||22,372,704|
##
##
||Listed|
|---|---|
|Group and Charity|investmentsf|
|Cost or valuation||
|At 1 September 2020|11,004|
|At 31August 2021|11,004|
|Net book value||
|At 31August 2021|11,004|
|At 31August 2020|11,004|
##
|||||||Group|Gmup|Charity|Charity|
|---|---|---|---|---|---|---|---|---|---|
|||||||2021
F|2020f|2021
8|2020|
|Finished|goods|and|goods|for|resale|8,597|4,066|8,597|4,066|
##
||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|
||||2021
E|2020|2021
8|2020f|
|Due within one year|||||||
|Trade debtors|||19,804|6,955|19,804|6,955|
|Amounts
owed by group||undertakings|1,594||1,594|4,606|
|Amounts
owed by King||David Resources|||||
|Limited|||10,155|10,155|10,155|10,155|
|Other debtors|||119,617|59,902|63,915|37,668|
|Prepayments|and accrued income||190,220|510,876|32,998|36,483|
||||341,390|587,888|128,466|95,867|
##
##
##
##
||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|
||||2021
E|2020|2021
E|2020f|
|Bank overdrafts|||306,179|220,304|306,179|220,304|
|Bank loans|||68,773|66,377|68,773|66,377|
|Other loans||||65,203|||
|Trade creditors|||170,630|27,941|15,725|26,442|
|Amounts
owed to group undertakings|||3,764||3,764||
|Other taxation and|social security||7,976|7,418|7,978|7,418|
|Other creditors|||5,623|37,640|5,615|4,977|
|Accruals and deferred
income|||403,439|790,978|80,766|258,248|
||||966,386|1,215,861|488,800|583,766|
||||Group|Group|Charity|Charity|
||||2021
E|2020
E|2021
E|2020f|
|Deferred income at 1 September||2020|124,635||88,120||
|Resources deferred|during the year||108,024|189,577|94,594|143,231|
|Amounts
released|from previous|periods|(124,635)|(64,942)|(88,120)|(55, 111)|
||||108,024|124,635|94,694|88,120|
##
##
##
|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2021f|2020|2021|2020f|
|Bank loans||144,133|215,272|144,133|215,272|
|Other loans||285,617|285,617|285,617|285,617|
|||429,750|500,689|429,750|500,889|
|Included
within the above are amounts|falling|due as follows:||||
|||Group|Group|Charity|Charity|
|||2021f|2020f|2021f|2020f|
|Between one and two years||||||
|Bank loans||70,308|68,773|70,308|68,773|
|Other loans||285,617|285,617|285,617|285,617|
|Between two and five years||||||
|Bank loans||73,825|146,499|73,825|145,499|
##
##
##
##
||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|
||||2021|2020|2021|2020|
||||5|6|E||
|Financial|assess||||||
|Financial|assets measured|at amortised cost|1,055,791|3,586,703|326,099|587,382|
||||Group|Group|Charity|Charity|
||||2021|2020|2021|2020|
||||||5||
|Financial|liabilities||||||
|Financial|liabilities measured|at amortised|||||
|cost|||1,388,158|1,f72,017|916,550|648,372|
##
##
||Balance at 1||||Balance at|
|---|---|---|---|---|---|
||September|||Gains/|31August|
||2020|Income|Expenditure|(Losses)|2021|
||5|5|6||5|
|Unrestricted
funds||||||
|General Funds - all funds|3,321,185|2,167,125|(2,640,105)|(946)|2,847,259|
|Restricted funds||||||
|Restricted Funds - all funds|1,319,621|7,092,190|(6,380,040)||2,031,771|
|Donations||15,318|(15,318)|||
|SEN income||76,461|(76,461)|||
|Nursery
grant||70,816|(70,816)|||
|Junior school prize fund|669||||669|
|High school prize fund|205||||205|
|Yavneh
prize fund|2,155||||2,155|
|Grant of buildings
and fixtures||||||
|from BSF|21,091,831||(566,963)||20,524,868|
|Pension reserve|(1,768,000)||(227,000)|(249,000)|(2,244,000)|
||20,646,481|7,254,785|(7,336,598)|(249,000)|20,315,668|
|Total offunds|23,967,666|9,421,910|(9,976,703)|(249,946)|23,162,927|
##
##
##
|Statement offunds - Group -|prior year|||||
|---|---|---|---|---|---|
||Balance at||||Balance at|
||1 September|||Gainer|31August|
||2019|Income|Expenditure|(Losses)|2020|
||||6|||
|Unrestricted
funds||||||
|General Funds|3,170,700|2,403,254|(2252,742)|(27)|3,321,185|
|Restricted funds||||||
|Academy
funds|994,362|6,517,540|(6,192,281)||1,319,621|
|Donations|44,478|3,248|(47,726)|||
|SEN income|58,917|95,935|(154,852)|||
|Nursery
grant|67,226|50,806|(118,032)|||
|Junior school prize fund|669||||669|
|High school prize fund|205||||205|
|Yavneh
prize fund|2 155||||2,155|
|Grant of buildings
and fixtures||||||
|from BSF|21,661,468||(569,637)||21,091,831|
|Pension reserve|(1,767,000)||(253,000)|252000|(1,768,000)|
||21,062,480|6,667,529|(7,335,528)|252,000|20,646,481|
|Total offunds|24,233,180|9,070,783|(9,588,270)|251,973|23,967,666|
##
##
##
##
|Analysis|ofn|et assets|between funds - current year||||
|---|---|---|---|---|---|---|
|||||Restricted|Unrestricted|Total|
|||||funds|funds|funds|
|||||2021
f|2021|2021
6|
|Tangible|fixed|assets||20,315,668|5,070,621|25,386,289|
|Fixed asset investments|||||11,004|11,004|
|Current assets|||||1,405,778|1,405,778|
|Creditors|due within one year||||(966,386)|(966,386)|
|Creditors|due|in more than one year|||(429,750)|(429,750)|
|Provisions
for||liabilities|and charges||(2,244,000)|(2,244,000)|
|Total||||20,315,668|2,647,267|23,162,935|
|Analysis|ofnet assets||between funds - prior year||||
|||||Restricted|Unrestricted|Total|
|||||funds|funds|funds|
|||||2020|2020|2020|
|Tangible|fixed|assets||23,830,056||23,830,056|
|Fixed asset investments|||||11,950|11,950|
|Current assets|||||3,610,410|3,610,410|
|Creditors|due|within one year||(914,585)|(301,175)|(1,215,861)|
|Creditors|due|in more than one year||(500,889)||(500,889)|
|Provisions for||liabilities|and charges|(1,768,000)||(1,758,000)|
|Total||||20,646,481|3,321,185|23,967,656|
##
##
|23.|Reconciliation
of n|et mov|ement|in funds to|net cash fl|ow from operati|ng
activities||
|---|---|---|---|---|---|---|---|---|
||||||||Group|Group|
||||||||2021|2020|
||||||||E|6|
||Net expenditure
for|the year|(as per Statement||of Financial|Activities)|(566,739)|(517,514)|
||Adjustments
for:||||||||
||Depreciation
charges||||||629,971|621,884|
||Gains/(losses)
on investments||||||(946)|27|
||Dividends,
interests|and rents from||investments||||(753/|
||Decrease/(increase)|in stocks|||||(4,531)|1,500|
||Decrease
in debtors||||||246,498|344,027|
||Increase/(decrease)|in creditors|||||(292,093)|718,818|
||Decrease
in provisions|||||||(122,738)|
||LGPS pension
movement||||||249,000|253,000|
||Net cash provided|by operating||activities|||272,160|1,298,251|
|24.|Analysis ofcash and cash equivalents||||||||
||||||||Group|Group|
||||||||2021|2020|
||||||||6|/r|
||Cash
in hand||||||1,055,791|3,018,456|
||Overdraft
facility repayable||on demand||||(306,178)|(220,304)|
||Total cash and cash equivalents||||||749,613|2,798,152|
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##
|Principal
actuarial|assumption|s
at the Balance sheet date (exp|ressed as weighted
averages)|:|
|---|---|---|---|---|
||||At 31|At 31August|
||||AU9ust 2021|2020|
||||eA|0/|
|Discount rate|||1.65|1.7|
|Rate ofincrease|in salaries||3.65|3.0|
|Rate ofincrease|for pensions|in payment/inflation|2.9|2.2|
||||At 31|At 31August|
||||August 2021|2020|
||||Years|Years|
|Mortality rates (in|years)||||
|-fora male aged|65 now||20.5|20.5|
|-at 65for a male|aged 45 now||23.3|22.0|
|-for a female aged 65 now|||21.9|23.1|
|-at 65for a female aged 45||now|25.3|25.0|
|The Group's share ofthe assets
in the scheme was;|||
|---|---|---|
||At 31|At 31August|
||August 2021
F|2020
f|
|Equities|2,981,290|2,291,600|
|Gilts|421,450|539,200|
|Property|293,930|235,900|
|Cash and other liquid assets|502,330|303,300|
|Total fair value ofassets|4,199,000|3,370,000|
||||2021
8|2020f|
|---|---|---|---|---|
|Current service cost|||177,000|184,000|
|Interest cost|||91,000|93,000|
|Net interest|||14,000|14,000|
|Total amount recognised|in the Consolidated|Statement of Financial|||
|Activities|||282,000|291,000|
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##
|Movements
in the present value ofthe defined benefit obligation were as follows:||
|---|---|
||2021|
||6|
|Opening
defined benefit obligation|5,138,000|
|Contributions
by scheme participants|44,00D|
|Actuarial
gains||
|Benefits paid|(44,000)|
|Current service costs|341,00D|
|Interest cost|91,000|
|Actuarial
gains|873,000|
|Closing defined benefit obligation|6,443,000|
|Movements
in the fair value ofthe Group's share ofscheme assets were as follows:||
||2021|
||6|
|Opening
fair value of scheme assets|3,370,000|
|Interest income|58,000|
|Actuarial
losses|(249,00D)|
|Assets distributed
on settlements|873,000|
|Contributions
by scheme participants|44,000|
|Benefits paid|(44,000)|
|Employer contributions|147,DDD|
|Closing fair value ofscheme assets|4,188,000|
##
|
under non-|
cancellable
operating
leases as follows:|||
|---|---|---|---|
|||Group|Group|
|||2021
6|2020f|
|Not later than 1 year||4,329|4,329|
|Later than|1 year and not later than 5years|343|4,672|
|||4,672|9,001|
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