||Page||
|---|---|---|
|Reference and Administrative
Details|||
|Report ofthe Trustees|2 to|7|
|Report ofthe independent
AucEtors|8 ta|10|
|Statement ofFinandal Ant%ties|||
|Statement ofFinanstaf position|||
|Stalement ofCash Flows|||
|Notes tathe Statement ofCash Flows|14||
|Notes sathe Ffnandal Statements|15 to|26|
|TRUSTEES|R DJBussag
—Ading Chairman|R DJBussag
—Ading Chairman|
|---|---|---|
||LJMason||
||TIBogg||
||Ivirs C M Tvdgg||
||W IVI Phelan||
||A E Langsdale||
||Mrs J CVincent||
||Mrs E CWould||
||Dr Rlvl Sharpe (appointed|9,11,20)|
||I RTyler (appointed 9.11.20)||
||I R C Harris (resigned 2.3.20)||
||J IVI Merrltt (resigned 2.3.20l||
||Mrs LM Reynolds {resigned 2.3.20)||
||S0 HeITlng (resigned 30.11.20)||
|REGISTERED OFFICE|CromWe)IAVenue||
||Woodhallspa||
||Llncolnshlre||
||LN10 6TQ||
|REGlsTERED coivIPANY IaUREBER|00796794{England and Wales)||
|REGISTERED CHARITY NUMBER|527611||
|INDEPENDENT AUDITORS|Forrester Boyd||
||Waynflete
House||
||1396astgate||
||Louth||
||Llncolnshire||
||LN11 9QO,||
|BANKERS|Bardays Bank pic||
||35High Street||
||Homcasde||
||Lincolnshire||
||LN9 5HS||
|ACCOUNTANTS|Duncan &Toplis limited||
||18 No rthgate||
||Sleaford||
||lincolnshire||
||N634 7BJ||
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|||||||2020|2019|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restdcted|Total|Total|
|||||fund|fund|funds|funds|
||||Notes||||E|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations and legacies|||2|83,547||83,547|1.,026|
|Charitable
aalvhles||||||||
|Sdtoo!fees reoeivable||||1,600,678||1,600,678|1,621,771|
|Other educational|income|||247,967||247,967|381,077|
|Other trading activities||||22,505||22,505||
|Investment
income||||16,205||16,205|36301|
|Other income||||6,879||6,879|30,718|
|Total||||1,977,781||1,977,781|2,094,336|
|EXPENDITURE ON||||||||
|Raising
funds|||6|21,043||21,043|16,260|
|Charhetde
acthdties||||||||
|Teaching costs||||93,482||93,482|229,397|
|Staff costs||||1,356,983||1,356,983|1,336,973|
|Support and ere!fare costs||||185,112||185,112|238,827|
|Premises costs||||175,567||175,56'7||
|Financing cosb||||7,978||7,978|6,169|
|Depreciation
costs||||39,520||39,520|37,406|
|Total||||1,879,685||1,879,685|2,090,937|
|NET INCO84E||||98,096||98,096|3,399|
|RECONCIUATION
OF FUNDS||||||||
|Total funds brought|forvsard|||1,412,490||1,412,490|1309,091|
|TOTAL FUNDS CARRIED FORWARD||||1,510,586||1,510,586|4412,490|
##
|STATEBIIENT OF FINANCIAL POSfBON
31AUGUST 2020||||||
|---|---|---|---|---|---|
|||||2020|2019|
|||Unrestricted|Restricted|Total|Total|
|||fund|fund|funds|funds|
||Notes|6|||E|
|FIXEDASSETS||||||
|Tangible assets|13|1,690,283||1,690,283|1,691,739|
|CURRENI' ASSETS||||||
|Stor.ks|14|31,229||31,229|34,822|
|Debtors|1.5|495,399||495,399|449,281.|
|Cash at bank and in hand||140,546||140,546|115,796|
|||667,174||667,174|599,899|
|CREDITORS||||||
|Amounts
falling due within one yea r|16|(767,599)||(767,599)|(805,035)|
|NET CURRENT ASSETS||(100,425)||(100325)|(205,136)|
|TOTAL ASSETS LESSCURRENT LIARIUTIES||1589,858||4589488|LA&6,603|
|CTt EDITORS||||||
|Amounts
falling due after more than one year|17|P9,272)||(79,272)|(74,213)|
|||1,510,586||1,510,5&6|1,412+90|
|FUNDS|20|||||
|Unrestricted
funds||||1,310,386|1,412,490|
|TOTAL FUNDS||||2+10/86|1,412~0|
##
##
|||||2020|2019|
|---|---|---|---|---|---|
|||||6||
|Cash flows from operating|activities|||||
|Cash generated
from operations||||57,078|51,341.|
|Interest paid||||(164)|(243)|
|interest element ofhire purchase||payments||||
|paid||||(tr361)|(1,352)|
|Net cash provided
by operating
activities|||||49,746|
|Cash flows from lrwesting|act{sides|||||
|Purchase oftangible fixed|assets|||(38,064)|(87,341)|
|Sa)eoftangible fixed assets||||4,000|17,032|
|Interest received||||517|388|
|Net orsh used
in investing|aclfvities|||(33,547)|(69,921)|
|Cash fhrws from dna»dng|activities|||||
|New hire purchase
agreements|||||42360|
|Hire purchase
repayments|In year|||3,244|(7,766)|
|lect cash prcndded
by financing
actlvKIes||||3,244|34,594|
|Change
In cash and cash equhralents|||In the|||
|reporting
period||||24,750|14,419|
|Cash and cash equfvalents|atthe|beginning||||
|ofthe mporting
period||||115,796|101,377|
|Cash and cash equivalents|atthe|end|of|||
|the repordng
period||||140,546|115,796|
##
##
##
|REconicI|UATIQN|o|F NET INc|oME TO NET CASH FLOW FROM OPERATING ACTIV|ITIEs||
|---|---|---|---|---|---|---|
||||||2020|2019f|
|Net Income for the|||reporting|period (as per the Statement ofFinancia!|||
|Activibes)|||||98,096|3,399|
|Adjustments
for:|||||||
|Depreciation
charges|||||39,520|37,406|
|Profit on|dispose|Ioffixed assets|||(4,000)|(17,032)|
|Interest|rein i vsd||||(517)|(388)|
|Interest|paid||||164|243|
|interest|element|ofhire purchase and flnana. lease rental payments|||IgkI|1,352|
|Decrease/(increase)|||in stocks||3,593|(5,734)|
|Increase|in debtors||||(46,118)|(28,670)|
|(Decrease)/Increase|||In creditors||(35,521)|60,76S|
|Net cash|provided||by operations||58,939|52,693|
|ANALySLS OF CHANGES IN NET FUNDS|||||||
|||||At1.9.19|Cash flow|At31.8.20|
|||||E|6|f|
|Net cash|||||||
|Cash at bank and||in|hand|115,796|24,750|140,546|
|||||115,796|24,750|140,546|
|Debt|||||||
|Finance|leases|||(34,594)|(3/244)|(37t838)|
|||||(34494)|(3,744)|(37,838)|
|Totat||||81,202|21,506|102,708|
##
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##
|h!OTES|TO THE FINANCIAL STATEMENTS - continued|TO THE FINANCIAL STATEMENTS - continued||||
|---|---|---|---|---|---|
|FOR THE YEAR ENDED 31AUGUST 2020||||||
|2.|DONATIONS AND 16GACIES|||||
|||||2020|2019|
||Donations||||1,026|
||Grants|||83,547||
|||||83,547|1,026|
||Grants received, included|in the above, are asfollows:||||
|||||2020|2019|
||||||f|
||Coronavirus fob Retention|Scheme||83~7||
|9.|OTHERTRADING
ACTRIITIES|||||
|||||2020|2019|
|||||f||
||Shop Income|||22,505|23,443|
|4,|IIWESTMENT INCOME|||||
|||||2020|2019|
||||||f|
||Rents received|||15,688|35,913|
||Deposit a~count interest|||517|388|
|||||16,205|36W1|
|S.|INcongE FROM CHARITABLE ACTlvlrtEs|||||
|||||2020|2019|
|||Activity||||
||Boarding pupils|School fees receivable||74,465|61,664|
||Oay pupils|School fees receivable||1,526,213|'1,560,107|
||P up gs extras|Other educaclonal|income|1.02,106|181,678|
||Nursery|Other educational|Income|62,082|91,278|
||Early years funding|Other educations!|income|57,918|60,750|
||SEN funding|Other educational|income|25,861|47,371|
|||||1,848,645|2,002,848|
##
##
||||||2020|2019|
|---|---|---|---|---|---|---|
|||||||f|
||||||21,043|16,260|
|7.|cHARITABLE||AcTRATIEs cosTS||||
||||||Support||
|||||Dire~t|costs (see||
|||||Cosh|note 8)
f|Totalsf|
||Teaching ~osts|||93,482||93rK2|
||Stolfcosts|||1,356,983||1,356,983|
||Support and||welbre costs|163,823|21,289|185,112|
||Premises costs|||175,567||175,567|
||Finandng|costs||2,G25|5,953|7,978|
||Depreciation||costs|39,520||39,520|
|||||1,831,400|27,242|1,858,642|
||SUPPORT|COSTS|||||
||||||Governance||
|||||Finance|costs|Totals|
||||||f||
||Support and||welbre costs||21,289|21,289|
||Flnandng|costs||5,953||5,953|
|||||5,953|21,289|27,242|
|9,|NET INCOME/(EIIPENDITVRE)||||||
||||2G20
f|2019f|
|---|---|---|---|---|
|Auditors'
remunerauon|||5,460|S,210|
|Depredation|—owned assets||23,305|27,953|
|Depredation|—assets on hire purchase|contracts and finance leases|16,215|9,453|
|surplus on disposal ofAxed assets|||(4,000)|(27/)32)|
|Accountancy|fees||10,526|10,686|
##
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##
|Trustees' expenses|Trustees' expenses|||||||
|---|---|---|---|---|---|---|---|
|||||||2020|2019|
||||||||E|
|Trustees' expenses||||||370|1,023|
|Expenses were|reimbursed||to|two trustees|during the year for travel expenses.|||
|STAFF COSTS||||||||
|||||||2020|2019|
|||||||f||
|Wages and salaries||||||1,089,179|1,220W2|
|Social security|costs|||||89,364|93,38'7|
|Other pension|costs|||||178,440|123,184|
|||||||1,3S6,983|1,336,973|
|The average monthly||number||ofemployees|during the year was as follows:|||
|||||||2020|2019|
|Teaching staff||||||35|34|
|Domestic staff||||||15|14|
|Administration|staff|||||4|3|
|||||||54||
##
|FOR T|HE YEAR ENDED 81AUGUST 2020|HE YEAR ENDED 81AUGUST 2020||||
|---|---|---|---|---|---|
|12,|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVIT)ES|||||
||||Unrestricted|Restr!cted|Total|
||||fund|fund|funds|
||||6|||
||INCOME AND ENDOWMENtS|FROM||||
||Donations and legacies||1,026||1,026|
||Chatftadfe accMtles|||||
||School fees receivable||1,621,771||1,621,771|
||Other educauenal
InCOme||381,077||381,077|
||Other trading
activities||23,443|||
||Investment
income||36,301||36,301|
||Other income||30,718||30,718|
||Total||||2,094,336|
||EXPENDITURE ON|||||
||Raising funds||16,260||16,260|
||Cttarftad(e acthrlties|||||
||Teaching costs||229,397||229397|
||Staff mats||1,336,973||1,336,973|
||Support
and welfare costs||238,827||238,827|
||Premises costs||22S,SSS||225,905|
||Finandng costs||6,169||6,169|
||Depreciation
costs||37,406||377(06|
||Total||2,090,587|350|2,090,937|
||NET INCOME/(EXPENDITURE)|||(350)|3,399|
||RECONCILIATION
OFFUNDS|||||
||Total funds drought forward||1,4G8,741|350|2,409/f91|
||TOTAL FUNDS CARRIED FORWARD||1,412,490||1,412,490|
|FOR T|HE YEAR ENDED31AUGUST 2020|||||||
|---|---|---|---|---|---|---|---|
|13,|TANGIBLE FIXEDASSE(S|||||||
|||Freehold|Plant and|Motor||||
|||property
f|machinery
f|vehldes
f||Totals||
||COST|||||||
||AtISeptember 2019|1,847,687|55'7,177|IIS~||2,523,347||
||Additions|15425||22,539||38,064||
||Dlsposals|||(55,463|)|(55rl63)||
||At 31August 7070|1,863,212|557,177|85,559||2,505,948||
||DEPRECIATION|||||||
||AtISeptember
2019|263,211|503,481|64,916||831,608||
||Charge for year|18,632|8,054|12,834||39,520||
||Eliminated
on disposal|||(55r463|)|(55r463|)|
||At31August 2020||511,535|22,287||815,665||
||NET BOOK VALUE|||||||
||At31August 2020|1,581,369||63,272||1,690,283||
||At31August 2019|1,584,476|53,696|53,567||1,691,739||
||Motor|
|---|---|
||vehldes|
|COST||
|AtISeptember
2019|63,020|
|Additions|22,539|
|At31August 2020|85,559|
|DEPREOATION||
|AtISeptember 2019|9,453|
|Charge for year|16,215|
|At 31August 2020|25,668|
|NET BOOK VALUE||
|At 31August 2020||
|At 31August 2019|53@67|
##
|14.|STOCKS||||||
|---|---|---|---|---|---|---|
||||||2020|2019|
||||||f|f|
||Stocks||||31,229|34g22|
|15,|DEBTORS:AMOUNTS||FALLING DUE WITHIN ONE YEAR||||
||||||2020|2019|
||||||f||
||Trade debtors||||454,052|402,393|
||Other debtors||||23/19||
||Prepayments|and accrued Income|||27,528||
||||||495,399|449,281|
|16.|CREDITORSI AIIBOUNTS|||FALLING DUE WITMIN ONE YEAR|||
||||||2020|2019|
||||||f||
||Hire purchase|(see note||18)|1'1,382|8,472|
||Trade creditors||||44,268|65,686|
||Social security|and other||taxes|26~7|26,938|
||Accruals and deferred||income||685,082|703,939|
||||||767599|805,035|
|17,|CREDITORS: AMOUNTS|||FALLING DUE AFTER MORE THAN ONE YEAR|||
||||||2020|2019|
|||||||f|
||Hire purchase|contracts||(see note 18)|26,456|26,122|
||Accruals and|deferred|income||52,816|47,991|
||||||79,272|74,113|
|Deferred
income represents
the fees in «dvanee
sc
be applied against fees chargeable
in the future,|heme.
This is sash received
in advance for fee|s which
will|
|---|---|---|
||2020|2019|
|||f|
|Opening balance|16,961|29,776|
|New deposits|||
|Fee payments|(12,870)|(22,815)|
|Closing bala no.|4,091|16,961|
##
##
|||||||Hire purchase|contracts|
|---|---|---|---|---|---|---|---|
|||||||2020|2019|
|||||||f|E|
|Net obligations|repayable:|||||||
|Within one year||||||1.1,382|&A72|
|Between one and||five years||||26,456|26,122|
|||||||37,&38|34494|
|||||||Non-cancellabie|operating|
|||||||leases||
|||||||2020|2019|
||||||||E|
|Within one year||||||29315|19,315|
|Between one and||five years||||2&378|30352|
|||||||31,693||
|SECURED DEBTS||||||||
|The following secured debts are included||||within creditors:||||
|||||||2020|2019|
|||||||E|E|
|Hire purchase contracts||||||37,838|34,594|
|The hire purchase||liability|Issecured on|the underlying|assets.|||
##
|MOVE|MENT|IN FUNDS||||
|---|---|---|---|---|---|
|||||Net||
|||||movement|At|
||||At 1.9.19|in funds|31,8.20|
||||f|||
|Unrestricted||funds||||
|Genera|I fund||1,412,490|98,096|1,510,586|
|TOTALFUNDS|||1,412,490|9&,096|1,510,5&6|
##
##
|Het mOVement|Het mOVement|In funds, mduded|In funds, mduded|in the abOve|are asfollows:|||
|---|---|---|---|---|---|---|---|
||||||Incoming|Resources|Movement|
||||||resources
f|expended
f|In funds|
|Unrestricted|funds|||||||
|General fund|||||1,977,781|(1,879,685 )|98,096|
|TOTALFUNDS|||||1,977,781|(1,879,685 )||
|Compa ratives||for movement|In|funds||||
|||||||Net||
|||||||movement|At|
||||||At 1,9,18
f|in funds
f|31.8.29
f|
|Unrestricted|funds|||||||
|General fund|||||1,408,741|3,749|~12~0|
|Restricted funds||||||||
|General fund|||||350|(350)||
|TOTALFUHDS|||||1,409,091|3,399|1,412,490|
|Comparative||net movement|In funds, included||in the above are asfollows:|||
||||||Incoming|Resources|Movement|
||||||resources
f|expended|In funds|
|Unrestricted|funds|||||||
|General fund|||||2~4,336|(2,090,587)|3,749|
|Restricted funds||||||||
|General fund||||||(350)|(350)|
|TOTAL FUNDS|||||2,094,336|(2,090,937 )|3,399|
##
##
||||Net||
|---|---|---|---|---|
||||movement|At|
|||At1,928|ln funds|31.8.20|
|Unreslskted|funds||||
|General fund||1,408,741|101,845|1,510,586|
|Restridad funds|||||
|General fund||350|(350)||
|TOTALFUNDS||1,409,D91|101395|1,510,S86|
||||Incoming|Resources|IVIove ment|
|---|---|---|---|---|---|
||||resources
f|expended
f|in funds
E|
|Unrestricted||funds||||
|Genera|I fund||4,0/2,217|(3,970,2'72)||
|Restricted funds||||||
|General|fund|||(350)|(350)|
|TOTAL|FUNDS||4,072,117|(3,970,622)|1G1,495|
##
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