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|---|---|---|---|---|---|---|
|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|
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||||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)|
##
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##
||||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|||||||
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|||||||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|headcount|expressed|as|full-time|equivalents|was:|||
|---|---|---|---|---|---|---|---|---|---|
|||||||||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|by Malvern|St James|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|
##