2022-08-31-accounts

	Page
Reference and administrative details of the Charity, its Trustee and advisers	1
Trustee’s report	2- 8
Independent auditor’s report on the financial statements	9-12
Consolidated statement offinancial activities	13
Consolidated balance sheet	14-15
Charity balance sheet	16- 17
Consolidated statement of cash flows	18
Notes to the financial statements	19-47

		Restricted	Unrestricted	Total	Total
		funds	funds	funds	funds
		2022	2022	2022	2021
	Note	£	£	£	£
Income from:
Donations and legacies	3	83,512	817,419	900,931	1,035,102
Charitable activities	4	7,488,633	1,158,647	8,647,280	8,117,173
Other trading activities	5	-	698,353	698,353	269,152
Investments	6	-	3,164	3,164	483
Total income		7,572,145	2,677,583	10,249,728	9421910
Expenditure on:
Charitable activities	7	6,145,787	4,339,793	10,485,580	9976,703
Total expenditure		6,145,787	4,339,793	10,485,580	9,976,703
Net incomel(expenditure) before net
losses on investments		1,426,358	(1,662,210)	(235,852)	(554,793)
Net losses on investments		-	(278)	(278)	(946)
Net movement in funds before other
recognised gains/(losses)		1,426,358	(1,662,488)	(236,130)	(555,739)
Other recognised gainsl(losses):
Actuarial gains/(losses) on defined
benefit pension schemes	24	2,589,000	-	2,589,000	(249,000)
Net movement in funds		4,015,358	(1,662,488)	2,352,870	(804,739)
Reconciliation of funds:
Total funds brought forward		20,315,668	2,847,259	23,182,927	23.967,666
Net movement in funds		4,015,358	(1,662,488)	2,352,870	(804,739)
Total funds carried forward		24,331,026	1,184,771	25,515,797	23,16Z927

	CONSOLIDATED BALANCE SHEET	CONSOLIDATED BALANCE SHEET	CONSOLIDATED BALANCE SHEET
		AS AT 31	AUGUST 2022
			2022		2021
		Note	£		£
Fixed assets
Tangible assets		12	25,051,230		25386,281
Investments		13	10,726		11,004
			25,061,956		25.397,285
Current assets
Stocks		14	9,143	8,597
Debtors		15	462,862	341,390
Cash at bank and in hand			1,402,883	1.055,791
			1,874,888	1.405,778
Creditors: amounts falling due within	one
year		16	(1,060,128)	(966,386)
Net current assets			814,760		439,392
Total assets less current liabilities			25,876,716		25836,677
Creditors: amounts falling due after more
than one year		17	(360,919)		(429,750)
Net assets excluding pension asset)
liability			25,515,797		25,406,927
Defined benefit pension scheme asset /
liability		24	-		(2,244,000)
Total net assets			25,515,797		23,162,927
Charity funds
Restricted funds.
Restricted funds excluding pension asset		19	24,331,026	22,559,668
Pension reserve		19	-	(2,244:000)
Total restricted funds		19	24,331,026		20,315,668
Unrestricted funds		19	1,184,771		2,847,259
Total funds			25,515,797		23.162.927

			2022		2021
	Note		£		£
Fixed assets
Tangible assets	12		21,241,048		21.805,743
Investments	13		10,726		11,004
			21,251,774		21,816,747
Current assets
Stocks	14	9,143		8,597
Debtors	15	195601		128,466
Cash at bank and in hand		650,293		326.099
		855,037		463.162
Creditors: amounts falling due within one
year	16	(600,944)		(488,800)
Net current assets/ liabilites			254,093		(25,638)
Total assets less current liabilities			21,505,867		21,791,109
Creditors: amounts falling due after more
than one year	17		(360,919)		(429,750)
Net assets excluding pension asset			21,144,948		21,361,359
Total net assets			21,144,948		21.361,359
Charity funds
Restricted funds	19		19,960,177		20.524,868
Unrestricted funds	19		1,184,771		836,491
Totalfunds			21,144,948		21,361.359

	Restricted	Unrestricted	Total
	funds	funds	funds
	2022	2022	2022
	£	£	£
Donations & grants	83,512	6,195	89,707
Parental voluntary contributions	-	703328	703,328
Gift aid	-	107,896	107,896
	83,512	817,419	900,931
	Restricted	Unrestricted	Total
	funds	funds	funds
	2021	2021	2021
	£	£	£
Donations & grants	15,318	62,159	77,477
Parental voluntary contributions	-	831,506	831,506
Tax refund	-	126,119	126,119
	15,318	1,019,784	1,035,102

				Restricted	Unrestricted	Total
				funds	funds	funds
				2022	2022	2022
				£	£	£
Operation	of	the	schools	7,488,633	1,158,647	8,647,280
				Restr/cted	Unrestricted	Total
				funds	funds	funds
				2021	2021	2021
				£	£	£
Operation	of	the	schools	7,239,467	877,706	8,117,173

	Unrestricted	Total
	funds	funds
	2022	2022
	£	£
Other fundraising activities	698353	698,353
	Unrestricted	Total
	funds	funds
	2021	2021
	£	£
Income from gala dinner	4,162	4,162
Other fundraising activities	264,990	264,990
	269,152	269,152

Unrestricted	Total
funds	funds
2022	2022
£	£
3,164	3,164

		Unrestricted	Total
		funds	funds
		2021	2021
		£	£
Investment	income	483	483

			Restricted	Unrestricted	Total
			funds	funds	funds
			2022	2022	2022
			£	£	£
Operation	ofthe	school	6,145,787	4,339,793	10,485,580
			Restricted	Unrestricted	Total
			funds	funds	funds
			2021	2021	2021
			£	£	£
Operation	ofthe	school	7,336,598	2,640,105	9,976,703

			Activities
			undertaken	Support	Total
			directly	costs	funds
			2022	2022	2022
			£	£	£
Operation	ofthe	school	7,326,081	3,159,499	10,485,580
			Activities
			undertaken	Support	Total
			directly	costs	funds
			2021	2021	2021
			£	£	£
Operation	ofthe	school	6,902,502	3,074,201	9,976,703

	Operation
	of the	Total
	school	funds
	2022	2022
	£	£
Staff costs	5,837,861	5,837,861
Educational materials	559,402	559,402
Food & meal costs	534,207	534,207
Trips	339,331	339,331
Travel costs	274	274
Teacher training	43,958	43,958
Other direct costs	11,048	11048
	7,326,081	7,326,081
	Operation ol	Total
	the school	ñinds
	2021	2021
	£	£
Staff costs	5.743,241	5:743,241
Educational materials	602,294	602.294
Food & meal costs	476,653	476,653
Trips	32597	32,597
Travel costs	719	719
Bus donations	27,785	27,785
Teacher training	9,416	9,416
Other direct costs	9, 797	9,797
	6.902,502	6.90Z502

	Operation
	ofthe	Total
	school	funds
	2022	2022
	£	£
Staff costs	652,650	652,650
Depreciation	665304	665,304
Governance	35,333	35,333
Security and transport	298728	298,728
Repair costs	55,045	55,045
Light & heat	197,125	197,125
Loan interest	7,096	7,096
Cleaning	125,098	125,098
Printing, postage and stationery	25,759	25,759
Bank charges and interest	8,957	8,957
Insurance	87,885	87,885
Sundries	71,617	71,617
Telephone	6,142	6,142
Recharge of expenses	741,405	741,405
Legal and professional fees	181,355	181,355
	3.159499	3,159499

Analysis of support costs (continued)
	Operation of	Total
	the school	funds
	2021	2021
	£	£
Staff costs	492, 122	492, 122
Depreciation	629,972	629972
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	572,898	572,898
Legal and professional tees	122,547	122,547
	3.074,201	3,074,201

9.	Auditors remuneration
		2022	2021
		£	£
	Fees payable to the Group’s auditorfor the audit ofthe Group’s consolidated financial statements.	25,000	23,000

	Group	Group	Charity	Charity
	2022	2021	2022	2021
	£	£	£	£
Wages and salaries	4,923,380	4.851,143	583,963	494.054
Social security costs	428,077	399294	-	-
Contribution to defined contribution pension
schemes	1,139,054	984,926	13,202	12259
	6,490,511	6.235,363	597,165	506.313

	Group	Group
	2022	2021
	No.	No.
Teaching	96	96
Educational Support	53	48
Administration	5	6
Premises	3	3
Management	5	3
LAJSLA	5	5
	167	161

					Group	Group
					2022	2021
					No.	No.
In	the	band	£60,001	-£70,000	1	2
In	the	band	£70,001	-£80,000	2	1

	Freehold	Motor	Fixtures	Computer	Assets under
	property	vehicles	and fittings	equipment	construction	Total
	£	£	£	£	£	£
Cost orvaluation
At 1 September
2021	29,044,454	56,175	754,069	433,660	2,177,564	32,465,922
Additions	-	-	-	-	330,257	330,257
Transfers between
classes	2,322,725	-	-	-	(2,322,725)	-
At 31 August 2022	31,367,179	56,175	754,069	433,660	185,096	32,796,179
Depreciation
At 1 September
2021	6,019,781	38,446	668,219	353,195	-	7,079,641
Charge forthe year	622,922	3,799	12,881	25,706	-	665,308
At 31 August 2022	6,642,703	42,245	681,100	378,901	-	7,744,949
Net book value
At 31 August 2022	24,724,476	13,930	72,969	54,759	185,096	25,051,230
A13l August2021	23,024,673	17729	85,650	80.465	Z177,564	25,386,281

	Freehold	Fixtures and	Computer
	property	fittings	equipment	Total
	£	£	£	£
Cost or valuation
At 1 September2021	27,590,718	498,337	5,130	28,094,185
At 31 August 2022	27,590,718	498,337	5,130	28,094,185
Depreciation
At 1 September2021	5,870,825	412,487	5,130	6288,442
Charge forthe year	551,814	12,881	-	564,695
At 31 August 2022	6,422.639	425,368	5,130	6,853,137
Net book value
At 31 August 2022	21,168,079	72,969	-	21,241,048
At3lAtsgust 2021	21.719893	85.850	-	21.805743

	Investments
Group and Charity	£
Cost orvaluation
At 1 September2021	10,448
Revaluations	278
At 31 August 2022	10,726

						Group	Group	Charity	Charity
						2022	2021	2022	2021
						£	£	£	£
Finished	goods	and	goods	for	resale	9,143	8,597	9,143	8,597

	Group	Group	Charity	Charity
	2022	2021	2022	2021
	£	£	£	£
Due within one year
Trade debtors	23,964	19,804	23,964	19,804
Amounts owed by group undertakings	-	1,594	-	1,594
Amounts owed by King David Resources
Limited	-	10,155	-	10,155
Other debtors	64,484	119,617	30,789	63,915
Prepayments and accrued income	374,414	190,220	140,848	32,998
	462,862	341,390	195,601	128,466

	Group	Group	Charity	Charity
	2022	2021	2022	2021
	£	£	£	£
Bankoverdrafts	387632	306,179	387,632	306.179
Bank loans	76,504	66,773	76,504	66,773
Trade creditors	167,940	I70,630	100,750	15,725
Amounts owed to group undertakings	43	3,764	43	3.764
Othertaxation and social security	8,401	7.976	8,401	7,978
Other creditors	126,411	5,623	5880	5,615
Accruals and deferred income	293,197	403,439	21,734	80,766
	1,060,128	966,386	600,944	486800
	Group	Group	Charity	CharIty
	2022	2021	2022	2021
	£	£	£	£
Deferred income at 1 September2021	91,875	127,281	48,445	88,120
Resources deferred during the year	189,942	91,875	147,950	46.445
Amounts released from previous periods	(91,875)	(131,550)	(48,445)	(88,120)
	189,942	87,606	147,950	46,445

	Group	Group	Charity	Charity
	2022	2021	2022	2021
	£	£	£	£
Bank loans	75,302	144,133	75,302	144,133
Other loans	285,617	285,617	285,617	285,617
	360,919	429,750	360,919	429,750
Included within the above are amounts falling due as follows:
	Group	Group	Charity	Charity
	2022	2021	2022	2021
	£	£	£	£
Between one and two years
Bank loans	75,302	70,308	75,302	70,308
Other loans	285,617	285,617	285,617	285,617
Between two and five years
Bank loans	-	73,825	-	73,825

	Group	Group	Charity	Charity
	2022	2021	2022	2021
	£	£	£	£
Financial assets
Financial assets measured at amortised cost	1,402,883	1,055,791	650,293	326,099
	Group	Group	Charity	Charity
	2022	2021	2022	2021
	£	£	£	£
Financial liabilities
Financial liabilities measured at amortised
cost	1.412,646	1388,158	953,462	918550

Statement offunds - current	year
	Balance at I				Balance at
	September			Gains!	31 August
	2021	Income	Expenditure	(Losses)	2022
	£	£	£	£	£
Unrestricted funds
General Funds - all funds	2,847,259	2,668,024	(4,330,234)	(278)	1,184,771
Restricted funds
Academyfunds	2,031,771	7,298,128	(4,959,050)	-	4,370,849
Donations	-	83,512	(83,512)	-	-
SEN income	-	130,917	(130,917)	-	-
Nursery grant	-	59,588	(59,588)	-	-
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	20,524,868	-	(564,691)	-	19,960,177
Pension reserve	(2,244,000)	-	(345,000)	2,589,000	-
	20,315,668	7,572,145	(6,145,787)	2,589,000	24,331,026
Total offunds	23,162,927	10,240,169	(10,476,021)	2,588,722	25,515,797

Statement offunds - Group -	prior year
	Balance at				Balance at
	1 September 2020	Income	Expenditure	Gains) (Losses)	31 August 2021
	£	£	£	£	£
Unrestrictedfunds
General Funds - all funds	3,321,185	2,167,125	(2,640,105)	(946)	2,847259
Restricted funds
Academy funds	1,319,621	7.092,190	(6,360,040)	-	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

Analysis of net assets between funds	- current year
		Restricted	Unrestricted	Total
		funds	funds	funds
		2022	2022	2022
		£	£	£
Tangible fixed assets		23,770359	1,280,871	25,051,230
Fixed asset investments		-	10,726	10,726
Current assets		1,019,851	855,037	1,874,888
Creditors due within one year		(459,184)	(600,944)	(1,060,128)
Creditors due in more than one year		-	(360,919)	(360,919)
Total		24,331,026	1,184,771	25,515,797
Analysis of net assets between funds	- prior year
		Restricted	Unrestricted	Total
		funds	funds	ñinds
		2021	2021	2021
		£	£	£
Tangible fixed assets		20,315,668	5,070,621	25,386,289
Fixed asset investments		-	11,004	11,004
Currentassets		-	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	2,847,267	23,162,935

	Group	Group
	2022	2021
	£	£
Net expenditure for the year (as per Statement of Financial Activities)	(236,130)	(555,739)
Adjustments for:
Depreciation charges	665,308	629,971
Losses on investments Increase in stocks Decreas&(increase) in debtors	(278) (546) (121,476)	(946) (4.531) 246,498
lncrease/(decrease) in creditors	12,214	(292,093)
LGPS pension movement	345,000	249.000
Net cash provided by operating activities	664,092	272,160

	Group	Group
	2022	2021
	£	£
Cash in hand	1,402,883	1055,791
Overdraft facility repayable on demand	(387,632)	(306,178)
Total cash and cash equivalents	1,015,251	749,613

	At 1
	September		At 31
	2021	Cash flows	August 2022
Cash at bank and in hand	£ 1,055,791	£ 347,092	£ 1,402,883
Bank overdrafts repayable on demand	(306,179)	(81,453)	(387,632)
Loan due within 1 year Loans due after 1 year	(68,773) (429,750)	(7,731) 68,831	(76,504) (360,919)
	251,089	326,739	577,828

	At31	4(3lAugust
	August2022	2021
	%	%
Discount rate	4.25	1.65
Rate of increase in salaries	3.8	3.65
Rate of increase for pensions in payment1inflation	3.05	29

	At31	At3lAugust
	August 2022	2021
	Years	Years
Mortality rates (in years)
- for a male aged 65 now	20.3	20.5
- at 65 for a male aged 45 now	21.6	21.9
- for a female aged 65 now	23.2	23.3
- at 65 for a female aged 45 now	25.1	25.3

	At 31	At 31 August
	August2022	2021
	£	£
Equities	3,038,760	2981,290
Guts	618,560	421,450
Property	396,360	293.930
Cash and other liquid assets	352,320	502330
Total fair value ofassets	4,404,000	4,199,000

	2022	2021
	£	£
Current service cost	236,000	177,000
Interest cost	110,000	91,000
Net interest	39,000	14000
Total amount recognised in the Consolidated Statement of Financial
Activities	386,000	282.000
Movements in the present value of the defined benefit obligation were as follows:
		2022
		£
Opening defined benefit obligation		6,443,000
Actuarial (losses)/gains		(2,802,000)
Benefits paid		(58,000)
Current service costs		462,000
Interest cost		110,000
Employee contributions		49,000
Closing defined benefit obligation		4,404,000

	Group	Group
	2022	2021
	£	£
Not later than 1 year	11,187	25,699
Later than 1 year and not later than 5 years	19,939	343
	31,126	26,042