2022-08-31-accounts - Malvern St James Limited

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						Page
Reference and administrative			details	ofthe School, its Governors	and advisers	1-2
Governors'	report					3 - 22
Independent	auditor's	report	on the	financial statements		23 - 26
Consolidated	statement	offinancial		activities		27-28
Consolidated	balance sheet					29
School balance sheet						30-31
Consolidated	statement	ofcash flows				32
Notes to the	financial statements					33 - 58

			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	funds
		Note	2022 6	2022	2022	2022 Z	2021f
Income and
endowments	from:
Donations and	legacies			75,377		75,377	90,098
Charitable activities:
Schoolfees
receivable			8,640,261			8,640,261	8,815,940
Registration	fees		35,395			35,395	29,893
Ancillary trading
income			212,072			212,072	79,893
Non-ancillary trading
income			293,484			293,484	126,856
Other income			1,770			1,770	436,525
Total income	and
endowments			9,182,982	75,377		9,258,359	9,579,205
Expenditure on:
Raising funds;
Trading activities
MSJE			460,367			460,367	522,740
Financing costs			344,562			344,562	93,064
Charitable activities:
Education and grant
making		11	9,354,635	34,530		9,389,165	9,030,977
Total expenditure			10,159,564	34,530		10,194,094	9,646,781
Net
(expenditure)/income			(976,582)	40,847		(935,735)	(67,576/
Transfers between
funds		24	17,850	(17,850)
Net movement	in
funds			(958,732)	22,997		(935,735)	(67,576)

			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	funds
		Note	2022	2022	2022	2022f	2021
Reconciliation	of
funds:
Total funds brought
forward			9,292,894	636,878	141,859	10,071,631	10,f39,207
Net movement	in funds		(958,732)	22,997		(935,735)	(67,576)
Total funds carried
forward			8,334,162	659,875	141,859	9,135,896	10,071,631

			CONSOLIDATED	BALANCE SHEET
			AS AT31	AUGUST 2022
			Note	2022 6		2021f
Fixed assets
Tangible assets			15	10,813,658		11,213,838
				10,813,658		11,213,838
Current assets
Stocks			17	17,225	15,977
Debtors			18	618,863	369,657
Cash at bank and	in hand			2,663,623	3,412,347
				3,299,711	3,797,981
Creditors: amounts	falling	due within	one
year			19	(4,226,115)	(3,907,875)
Net current liabilities				(926,404)		(109,894)
Total assets less	current	liabilities		9,887,254		11,103,944
Creditors: amounts	falling	due after	more
than one year			20	(751,358)		(1,032,313)
Total net assets				9,135,896		10,071,631
Charity funds
Endowment funds			24	141,859		141,859
Restricted funds			24	659,875		635,878
Unrestricted funds			24	8,334,162		9,292,894
Total funds				9,135,896		10,071,631

				Note		2022f		2021f
Fixed assets
Tangible assets				15		7,354,176		7,550,520
Investments				16		3,199,503		3,291,405
						10,553,679		10,942,025
Current assets
Stocks				17	16„610		15,683
Debtors				18	914,460		669,933
Cash at bank and	in hand				2,616,565		3,372,785
					3,547,635		4,058,401
Creditors: amounts	falling		due within one
year				19	(4,214,060)		(3,896,482)
Net current liabilities		1assets				(666,425)		161,919
Total assets less	current		liabilities			9,887,254		11,103,944
Creditors: amounts	falling		due after more
than one year				20		(751,358)		(1,032,313)
Total net assets						9,135,896		10,071,631

			2022	2021
		Note
Charity funds
Endowment	funds	24	141,859	141,859
Restricted funds		24	659,875	636,878
Unrestricted	funds	24	8,334,162	9,292,894
Total funds			9,135,896	10,071,631

				Note	2022 6	2021f
Cash flows from operating	activities
Net cash used in operating	activities			26	(250,135)	31,194
Cash flows from investing	activities
Proceeds from the sale oftangible fixed		assets			580	271,058
Purchase oftangible fixed assets					(304,976)	(372,754)
Net cash used in investing	activities				(304396)	(101696)
Cash flows from financing	activities
Cash inflows from new borrowing						750,000
Repayments of borrowing					(137,143)	(35,929)
Ir,tercet paid on borrowings					(57,050)	(68,081)
Net cash (used in)/provided	by financing		activities		(194,193)	645,990
Change in cash and cash	equivalents	in	the Year		(748,724)	575,488
Cash and cash equivalents	at the beginning		ofthe Year		3,412,347	2,836,859
Cash and cash equivalents	at the end	of	the Year	27	2,663,623	3,412,347
The notes on pages 33to 58form part ofthese financial statements

						Restricted	Total	Total
						funds	funds	funds
						2022f	2022 f.	2021f
Donations	and gifts					75,377	75,377	90,098
Total 2022						75,377	75,377	90,098
Total 2021						90,098	90,098
Charitable	activities - School fees receivable
							2022f	2021f
Gross fees							9,674,145	9,829,085
Less: total scholarships,		bursaries	and	awards			(1,068,414)	(1,096,064)
							8,605,731	8,733,021
Add back: Bursaries and other awards				paid for by restricted	funds		34,530	82,919
							8,640,261	8,815,940

Charitab	le activities - Ancillary trading income
		2022 6	2021f
Trips		124,119	7,741
Commission		10,185	12,217
Minibus	income	77,768	59,935
		212,072	79,893

	Unrestricted	Total	Total
	funds	funds	funds
	2022f	2022 6	2021f
Rents and letting's	72,637	72,637	4,000
Trading income MSJE	220,847	220,847	122,856
Total 2022	293,484	293,484	126,856
Total 2021	126,856	126,856

		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022	2021
			5
Government	grant	1,190	1,190	202,797
Profit on sale	offixed assets	580	580	233,728
Total 2022		1,770	1,770	436,525
Total 2021		436,525	436,525

	Unrestricted	Total	Total
	funds	funds	funds
	2022 0	2022	2021f
Bad debts	287,512	287,512	24,983
Bank interest payable	57,050	57,050	68,081
Total 2022	344,562	344,562	93,064
Total 2021	93,064	93,064

	Unrestricted	Total	Total
	funds	funds	funds
	2022f	2022 8	2021f
Staff costs	221,857	221,857	238,010
Depreciation	106,913	106,913	110,500
Other costs	131,597	131,597	174,230
Tota I2022	460,367	460,367	522,740
Total 2021	522,740	522,740

	Unrestricted	Restricted
	funds	funds	Total	Total
	2022	2022	2022	2021
			6
Teaching costs	4,154,730		4,154,730	4,105,268
Welfare costs	1,734,026		1,734,026	1,655,773
Premises	1,503,041		1,503,041	1,471,222
Support costs and governance	1,962,838	34,530	1,997,368	1,798,714
Total 2022	9,354,635	34,530	9,389,'l65	9,030,977
Total 2021	8,945,094	85,883	9,030,977

	Staff costs	Depreciation	Other costs	Total	Total
	2022	2022 f	2022	2022f	2021f
Teaching costs	3,770,471	299,122	85,137	4,154,730	4,105,268
Welfare costs	1,254,277	29,912	449,837	1,734,026	1,655,773
Premises	444,21 0	239,297	819,534	1,503,041	1,471,222
Support costs and governance	827,166	29,912	1,140,290	1,997,368	1,798,714
Total 2022	6,296,124	598,243	2,494,798	9,389,165	9,030,977
Total 2021	6,270,291	587,084	2,173,602	9,030,977

				2022f	2021f
Fees payable	to the School's auditor	for the audit ofthe School's annual
accounts				14,550	13,750
Fees payable	to the School's auditor	in respect of:
The auditing	ofaccounts ofsubsidiaries		ofthe School	2,700	2,375
All non-audit	services not included above			2,250	1,975

	Group	Group	School	School
	2022	2021f	2022	2021
Wages and salaries	5,335,711	5,317,148	5,131,534	5,098,010
Social security costs	468,733	453,158	456,882	441,038
Pension costs	713,537	737,997	707,708	731,243
	6,517,981	6,508,301	6,296,124	6,270,291

		Group	Group
		2022	2021
		No.	bio.
Teaching		99	110
Welfare and premises		94	104
Support and management	and administration	29	30
Coaches		29	33
MSJE staff		17	19
		268	206

The	average
		Group	Group
		2022	2021
		No.	No.
Total	staff	188	201

Group	Group
2022	2021
No.	No.

	Freehold		plant,	Assets
	land and	House	fixtures and	under
	buildings f	refurbishments f	equipment f	construction	Totalf
Cost or valuation
At 1 September 2021	12,839,667	4,000,935	4,863,928	14,327	21,718,857
Additions		175,513	117,523	11,940	304,976
Transfers between classes		1,620		(1,620)
At 31 August 2022	12,839,667	4,178,068	4,981,451	24,647	22,023,833
Depreciation
At 1 September 2021	5,115„012	1,722,650	3,667,357		10,505,019
Charge for the Year	248,545	228,909	227,702		705,156
At 31August 2022	5,363,557	1,951,559	3,895,059		11,210,175
Net book value
At 31 August 2022	7,476,110	2,226,509	1,086,392	24,647	10,813,658
At 3f August 2021	7,724,655	2,278,285	1,196,571	f4,327	11,213,838

	Freehold		Plant„Assets	Plant„Assets
	land and	House	fixtures and	under
	buildings	refurbishments	equipment	construction	Total
		6			6
Cost or valuation
At 1 September 2021	8,110,058	4,000,935	4,526,205	14,327	16,651,525
Additions		175,513	114,346	11,940	301,799
Transfers between classes		1,620		(1,620)
At 31 August 2022	8,110,058	4,178,068	4,640,551	24,647	16,953,324
Depreciation
At 1 September 2021	3,910,373	1,722,650	3,367,882		9,000,905
Charge for the Year	153,953	228,909	215,381		598,243
At 31 August 2022	4,064,326	1,951,559	3,583,263		9,599,148
Net book value
At 31 August 2022	4,045,732	2,226,509	1,057,288	24,647	7,354,176
At 31August 2021	4,199,685	2,278,285	1,158,323	14,327	7,650,620

16.	Fixed asset investments
		Investments
		in
		subsidiary
	School	companiesf
	Cost or valuation
	At 1 September 2021	4,500,001
	At 31August 2022	4,500,001
	Impairment
	At 1 September 2021	1,208,596
	Charge for the Year	91,902
	At 31 August 2022	1,300,498
	Net book value
	At 31August 2022	3,199,503
	At 31August 2021	3,291,405

The licence fee charged	The licence fee charged	Enterprises	Limited	to the	School was f139,932 (2021:	School was f139,932 (2021:
f/39, 932).
Stocks
		Group		Group	School	School
		2022		2021	2022	2021
		F			6
Goods for resale and consumables		17,225		15,977	16,610	15,683
Debtors
		Group		Group	School	School
		2022 6		2021f	2022 6	2021f
Due within one year
Trade debtors		399,582	277,653		399,582	277,653
Amounts owed by group undertakings					318,502	309,679
Other debtors		59,963		37,302	50,387	32,809
Prepayments	and accrued income	159,318		54,702	145,989	49,792
		618,863	369,657		914,460	659,933

				Group	Group	School	School
				2022	2021	2022	2021
Bank loans				188,356	137,143	188,356	137,143
Trade creditors				253,564	216,691	251,444	214,227
Other taxation	and social security			113,729	116,312	113,359	116,169
Fee deposits (note 21)				1,872,928	1,507,407	1,872,928	1,507,407
Fees in advance		(note	22)	1,441,317	1,495,681	1,441,317	1,495,681
Other creditors				194,798	157,501	185,233	148,715
Accruals and deferred			income	161,423	277,140	161,423	277,140
				4,226,115	3,907,875	4,214,060	3,896,482

			Group	Group	School	School
			2022 6	2021f	2022f	2021
Bank	loans		682,557	870,913	682,557	870,913
Fees	in advance	(note 22)	68,801	161,400	68,801	161,400
			751,358	1,032,313	751,358	1,032,313

Between two and five years
Bank loans	665,570	760,713	665,570	780,713
Over five years
Bank loans	16,987	110,200	16,987	110,200

					Group	Group	School	School
					2022	2021	2022	2021f
Payable	or	repayable	by	instalments	16,987	110,200	16,987	110,200

Fee deposits
In the normal course	of business		and based on	the going concern basis, the profile of pupils	leaving the
school, and therefore	having	their	fees deposits	repaid, gives the expected repayment of acceptance fee
deposits as follows:
				2022	2021
In one year or less				447,119	215,513
Between one and two	years			403,999	123,560
Between two and five	years			888,084	1,001,694
Over five years				133,726	166,640
				1,872,928	1,507,407

				2022	2021
				8
	Other creditors			1,441,317	1495681
	Other creditors 1-2 yrs			88,801	161,400
	Balance at 31 August			1,510,118	1,657,081
23.	Financial instruments
				School	School
				2022	2021f
	Financial assets
	Financial assets measured	at fair value through	income and expenditure	3,199,503	3,291,405

Statement	offund	s - current	Year
			Balance at 1				Balance at
			September			Transfers	31August
			2021	Income	Expenditure	in/out	2022
					E	6
Unrestricted	funds
Unrestricted	funds		9,292,894	9,182,982	(10,159,564)	17,850	8,334,162
Endowment	funds
Endowment	Funds		141,859				141,859
Restricted funds
Development	fund			17,850		(17,850)
M Warner Legacy			501,470		(3,762)		497,708
Professor Billing fund			6,436				6,436
Financial aid	COVID-19fund		27,693				27,693
Lynne Linder	Bursary appeal		5,066	25,050			30,116
Smart classrooms		and library
fund			1,000	2,960			3,960
Mrs Croxton	Legacy		15,400				15,400
Bursary Fundraising			79,813	29,517	(30,768)		78,562
			636,878	75,377	(34,530)	(17,850)	659,875
Total offunds			10,071,631	9,258,359	(10,194,094)		9,135,896

Statement offund	s - prior ye	ar
		Balance at				Balance at
		1September			Transfers	31August
		2020	Income	Expendtturef	(nlout f	2021 f
Unrestricted funds
Unrestricted funds		9,330,120	9,489,107	(9,560,898)	34,565	9,292,894
Endowment funds
Endowment Funds		141,859				141,859
Restricted funds
Development fund			35,100		(35,100)
M Warner LegacY		521,974		(20,504)		501,470
Professor Billing fund		6,436				6,436
Financial aid COVID-19 fund		59,852	(1,690)	(30,469)		27,693
Lynne I inder Bursary appeal		4,266	800			5,066
Greenslade 8 Poulton
memorial fund		1,319	(150)	(1,464)	295
Music Composition	fund		1,260	(1,500)	240
Smart classrooms	and library
fund			1,000			1,000
Mrs Croxton Legacy			15,400			15,400
Bursary Fundraising		73,381	38,378	(31,946)		79,813
		667,228	90,098	(85,883)	(34,565)	636,878
Total offunds		10,139,207	9,579,205	(9,646,781)		10,071,631

		Balance at 1				Balance at
		September			Transfers	31 August
		2021 8	Income	Expenditure 6	in/out 8	2022f
General funds		9,292,894	9,182,982	(10,159,564)	17,850	8,334,162
Endowment	funds	141,859				141,859
Restricted	funds	636,878	75,377	(34,530)	(17,850)	659,875
		10,071,631	9,258,359	(10,194,094)		9,135,896
Summary	offunds - prior year
		Balance at				Balance at
		1September			Transfers	31August
		2020	Income f	Expenditure f	inloutf	202'I 8
General funds		9,330,120	9,489,107	(9,560,898)	34,565	9,292,894
Endowment	funds	141,859				141,859
Restricted	funds	667,228	90,098	(85,883)	(34,565)	635,878
		10,139,207	9,579,205	(9,646,781)		10,071,631

Analysis	ofn	et assets between funds -	prior year
			Unrestricted	Restricted	Endowment	Total
			funds	funds	funds	funds
			2021f	2021	2021	2021f
Tangible	fixed	assets	11,213,838			11,213,838
Current	assets		3,019,244	636,878	141,859	3,797,981
Creditors	due	within one year	(3,907,875)			(3,907,875)
Creditors	due	in more than one year	(1,032,313)			(1,032,313)
Total			9,292,894	636,878	141,859	10,071,631

						Group	Group
						2022f	2021f
Net expenditure for	the year (as per Statement			of Financial	Activities)	(935735)	(67576)
Adjustments for:
Depreciation charges						705,156	697,584
Profit on the sale of	fixed assets					(580)	(233,728)
Decrease/(increase)	in stocks					(1,248)	62,355
Decrease/(increase)	in debtors					(249,206)	116,142
Increase/(decrease)	in creditors					174,428	(611,664)
Interest paid on borrowings						57,050	68,081
Net cash provided	by/(used	in) operating	activities			(250,135)	31,194

		Group	Group
		2022	2021
		6
Cash	in hand	2,663,623	3,412,347
Total	cash and cash equivalents	2,663,623	3,412,347

			At 1		Other non-
			September		cash	At 31
			2021	Cash flows f	changes	August 2022
Cash	at bank and in hand		3,412,347	(748,724)		2,663,623
Debt	due within	1 year	(137,143)	137,143	(188,356)	(188,356)
Debt	due after	1 year	(870,913)		188,356	(682,557)
			2,404,291	(611,581)		1,792,710

under non	-ca	ncellable operating leases as follows:
			Group	Group
			2022 6	2021f
Not later than		1 year	45,168	48,196
Later than	1	year and not later than 5years	106,452	151,620
			151,620	199,816

			Group	Group
			2022	2021f
Operating	lease	rentals	48,196	46,571