2021-08-31-accounts - The Elms (Colwall) Limited

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		Page
Legal and Administrative	information
Annual Report ofthe Trustees		2-6
Independent Auditor's	Report	7-9
Statement ofFinancial	Activities	10
Balance Sheet
Cash Flow Statement		12
Notes to the Financial Statements		13-22

TRUSTEES	WSTownsend —Chairman	WSTownsend —Chairman	(resigned 2July 2022)	(resigned 2July 2022)
	J Rose —Chairman (appointed			18July 2022)
	N Baldwin (appointed	13July 2022)
	PJ Bailey (resigned	4July	2022)
	L Chenevix- Trench (resigned 3July 2022)
	T Clive (resigned 29	November		2020)
	BEvans (appointed	20 July 2022)
	M Gilliat Smith
	D Graham (appointed	20 July 2022)
	T N Hone (resigned	29 November 2020)
	A MacKinnon
	C Milne (resigned 4July 2022) Lady SJ Mcfarlane
	A Milliken
	L Redvers (appointed 24 March 2021)
	G Steele Bodger (resigned		12July 2022)
	TW Stubbs (resigned 13June			2022)
	PThomas
	CWhitworth
	A G Wynn LVO (resigned 13June 2022)
COMPANY SECRETARY	SBrandwood
CLERK TO THE TRUSTEES	SBrandwood
HEAD OF SCHOOL	C Hattam
COMPANY NUMBER	00843499
CHARITY NUMBER	527252
REGISTERED AND PRINCIPAL	The Elms School
OFFICE	Colwall
	Malvern
	Worcestershire
	WR136EF
AUDITOR	Crowe U.K. LLP
	Statutory Auditor
	4'" Floor, StJames	House
	StJames Square
	Cheltenham
	GL50 3PR
BANKERS	Lloyds Bank pic
	8 High Town
	Hereford
	HR1 2AE
SOLICITORS	Harrison Clark Rickerbys Limited
	Ellenborough House
	Wellington Street
	Cheltenham
	GL50 1YD
	Whatley Weston 8	Fox
	15&16The Tything
	Worcester
	WR1 1HD

				Unrestricted	Restricted
				funds	funds	Total	Total
				2021	2021	2021	2020
					8	8
			Notes
INCOME FROM:
Charitable activities
School fees				2,177,630		2,177,630	2,069,420
Ancillary trading income Investment income				188,089 105		1S6,0S9 105	170,861 15,786
Other trading activities Government grant income Donations				1,693 42,368 50,000	25,310	1,693 42,368 75,310	2,352 150,116 15,310
Total incoming resources				2,459,885	25,310	2,485,195	2,423,845
EXPENDITURE ON:
Charitable activities
Education and grant making				2,916,929	25,310	2,942,239	2,975,583
Total expenditure			5	2,916,929	25,310	2,942,239	2,975,583
Net movement in	funds	from		(457,044)		(457,044)	(551,738)
operations before investment		losses
Losses on investments							(6,212)
Net movement on funds				(457,044)		(457,044)	(557,950)
Fund balances at 1 September		2020		3,873,516	49,601	3,923,117	4,481,067
Fund balances at 31August		2021	11/12	3,416,472	49,601	3,466,073	3,923,117

			Notes		2021	2020
						E
FIXEDASSETS
Tangible assets					3,039,405	3,125,346
CURRENT ASSETS
Debtors			7	101,792		93,325
Cash at bank and	in hand			831,387		1,107,934
				933,179		1,201,259
CREDITORS —amounts due within one year		falling	8	~438,188		351,488
TOTAL ASSETS	LESS CURRENT				495,073	849,771
LIABILITIES
CREDITORS —amounts		falling due			(68,405)	(52,000)
after more than one year
TOTAL NET ASSETS			10		3,466,073	3,923,117
FUNDS Unrestricted funds			12		3,416,472	3,873,518
Restricted funds			11		49,601	49,601
TOTAL FUNDS			10		3,466,073	3,923,117

			2021	2021		2020
Cash flows from operating	activities:
Net outgoings for the year			(457,044)			(551,738)
Adjustments for:
Investment income and bank interest received				(105)		(15,786)
Depreciation charges (Increase)/decrease in debtors Increase/(decrease) in creditors				138,285 (8,467) 103,023	151,226 63,934 ~42.300
Net cash used by operating	activities		(224,308)			(394,744)
Cash flows from investing	activities
Payments for tangible fixed assets Sale of investments			(52,344)			(129,850) 630,513
Investment income and bank interest received			105			15,786
Net cash provided by investing activities				52,239		516,449
Change in cash and cash equivalents		in the year		276,547		121,705
Cash and cash equivalents	at the beginning ofthe year		1,107,934			986,229
Cash and cash equivalents	at the end	ofthe year		831,387		1,107,934
Analysis ofcash and cash	equivalents			2021		2020
Cash at bank and in hand			~3303		~11070
Analysis ofchanges in net	debt		AI1		Cash-	At	31
			September		flows	August
			2020		6	2021
							8
Cash at bank and in hand			1,107,934	(276,547)		831,387

2.	FEESRECEIVABLE
	Income represents gross	School	fees invoiced less discounts			and allowances.
						2021 f.	2020f
	Gross School fees Less: total scholarships,	bursaries,		grants and allowances:		2,834,315 ~551,995	2,610,707 ~755,597
						2,152,320	2,054,110
	Add back: Bursaries and	awards	paid for by restricted		funds	25,310	1I5,310
						2,177,630	2,069,420
3.	OTHER INCOME					2021f	2020f
	Ancillary trading income
	Fee extras and school trips					185,721	169,029
	Other trading income					2,368	1,632
						188,089	170,861
	Non ancillary trading income					2021f	2020f
	Interest on overdue fees						994
	Other income					1,693	1,356
						1,693	2,352
						2021f	2020f
	Government grant income					42,368	150,116
4.	STAFF COSTS					2021f	2020f
	Wages and salaries Social security costs					1,542,958 143,606	1,567,235 147,334
	Pension contributions					240,740	267,573
						1,927,304	1,982,142

The num	ber ofemployees paid in excess off6	0,000 during the year were as follows:
		2021	2020
		No.	No.
660,001	- f70,000	1	'I
F80,001	- K90,000

						2021	2020
						6
Senior Management		Team Remuneration
ANALYSIS OF TOTAL			RESOURCES EXPENDED
						2021	2020
			Staff Costs 6	Otherf	Depreciation 6	Total	Totalf
Charitable	activities:
Education			1,417,738	356,209	62,442	1,836,389	1,870,763
Welfare			206,105	175,447		381,552	401,088
Premises			123,477	173,709	75,843	373,029	363,139
Marketing	and publicity			41,059		41,059	45,423
Support costs			179,984	104,916		284,900	278,860
Grants, awards and prizes				25,310		25,310	15,310
Total			1,927,304	876,650	138,285	2,942,239	2,075,583
Governance costs (included within support costs)					comprise	2021	2020
						6
Auditor's	remuneration		—audit services
						8,500	8,100

6.	TANGIBLE FIXEDASSETS
			Land and	Fixtures	Motor
			buildings 5	and Fittings f	vehicles 6	Total F
	Cost
	At 1 September 2020 Additions		3,841,225	862,343 52,344	285,371	4,988,940 52,344
	At 31August 2021		3,841,226	914,687	285,371	5,041,284
	Depreciation At 1 September 2020 Charge for the year		1,095,350 75,846	527,631 48,515	240,613 13,924	1,863,594 138,285
	At 31 August 2021		1,171,196	576,146	254,537	2,001,879
	Net book value
	At 31August 2021		2,670,030	338,541	30,834	3,039,405
	At 31August 2020		2,745,876	334,712	44,758	3,125,346
7.	DEBTORS				2021	2020
					6
	Net School fee debtors				49,614	28,680
	Other debtors				4,140	4,040
	Prepayments and accrued income				48038	60,605
					101,792	93,325
8.	CREDITORS - AMOUNTS	FALLING DUE WITHIN ONE		YEAR
					2021	2020
					8
	Trade creditors				66,691	27,445
	Taxation and social security				42,018	63,891
	Other creditors and accruals				8,566
	Deferred income - fees received		in advance ofterm		309,831	244,302
	Deposits from parents				11,000	15,850
					438,106	351,458

CREDITORS - AMOUNTS FALLING DUE AFTER MO	RE THAN ONE YEAR
	2021f	2020f
Fee deposits	68,405	52,000
	Fee	deposits
	2021 f	2020 f
Repayable as follows: In one year or less, or on demand Between one and two years Between two and five years Greater than five years	11,000 24,405 20,000 24,000	15,850 9,000 21,400 21,600
	79,405	67,850

		Fixed	Net Current	Long term
		Assetsf	Assetsf	Liabilities	Totalf
Current year movement
Restricted Unrestricted	Funds (note 11) Funds (note 12)	3,039,405	49,601 445,472	~M, 405	49,601 3,416,472
		3,039,405	495,073	~60,405	3,466,073
		Fixed	Nel Current	Long term
Prior year	movement	Assetsf	Assetsf	Liabilities	Total
Restricted Unrestricted	Funds (note 11) Funds (note 12)	3,125,347	49,80'i 800,170	52,000	49,801 3,873,517
		3,125,347	049227	~02000	3923,778

						Balance	Incoming	Resources	Resources			Balance
Current year		movement			1/09/2020		Resources	Expended				31I0812021
							E		E			K
Grocers donation			—bursary			49,601	25,310 ~25,310					40,801
Prior year movement					Balance 1/09/2019		Incoming Resources	Resources Expended			Balance 31/08/2020
									8
Grocers donation —bursary						49,601	15,310		(15,310)			49,601
The Grocers		Company provides			annual financial		support for an identified		pupil throughout			their stay
at the school.
UNRESTRICTED FUNDS
									Loss on
Current year				Balance		Incoming	Resources	Investments				Balance
movement			1/09/2020		Resources		Expended					31IOSI2021
							E			E		E
General
Reserve			3,867,661			2,434,576	(2,891,620)					3,410,617
Designated Fund				5,855								5,855
			3873516			2434576	~2891620					3,416,472
Unrestricted		funds	represent accumulated income				from the school's activities and other				sources that
are available		for the		general purposes		ofthe school.
Designated	funds		have been set		aside during the		year for the refurbish	of	the tennis	courts		within the
school grounds.
Prior year				Balance		Incoming	Resources		Loss on			Balance
movement				1/09/2019	Resources		Expended	Investments				31/08/2020
							L'					6
General
Reserve				4,425,611		2,408,535	(2,960,273)		(6,212)			3,867,661
Designated Fund				5,855								5,855
				4431.406		2408535	~2960273	~6272				3873516

						2021
Financial	assets					8
Financial	assets measured		at amortised	cost
Financial	liabilities
Financial	liabilities	measured	at amortised		cost

At 31 Aug operating	ust 2021 the total ofthe School's future mi leases was:	nimum lease payments under non-canc	ellable
		2021	2020
Amounts Less than Between Between	payable: 1 year 1 and 2 years 2 and 5years	1,785 1,785 2,888	1,233 1,233 2,466
		6,458	4,932

7. STATEMENT OF FINANCIAL ACT	IVITIES —Comparative	figures by fun	d-type
	Unrestricted	Restricted
	funds	funds	Total
	2020f	2020 f	2020 8
INCOME FROM:
Charitable activities
School fees	2,069,420		2,069,420
Ancillary trading income Investment income	170,861 15,786		170,861 15,786
Other trading activities	2,352		2,352
Government grant income	150,116		159,116
Donations		15,310	15,310
Total incoming resources	2,408,535	15,310	2,423,845
EXPENDITURE ON:
Charitable activities
Education snd grant making	2,960, 273	15,310	2,975,583
Total expenditure	2,960,273	15,310	2,975,583
Net outgoing funds from operations before investment	(551,738)		(551,738)
gains and transfers
Losses on investments	(6,212)		(6,212)
NET MOVEMENT IN FUNDS	(557,950)		(557,950)