||Page||
|---|---|---|
|Reference and Administrative
Details|||
|Report ofthe Trustees|2 to|7|
|Report ofthe Independent
Auditors|8 to|11|
|Statement of Financial Activities|||
|Statement of Financial Position|||
|Statement ofCash Flows|14||
|Notes to the Statement of Cash Flows|||
|Notes to the Financial Statements|16 to|27|
##
|TRUSTEES|R D J Bussell - Acting|Chairman|
|---|---|---|
||LJ Mason||
||TJ Bogg||
||Mrs C M Twigg||
||W M Phelan||
||A E Langsdale||
||Mrs J CVincent||
||Mrs E CWould||
||Dr R M Sharpe (appointed 9.11.20)||
||I RTyler (appointed|9.11.20)|
||S D Herring (resigned 30.11.20)||
|REGISTERED OFFICE|Cromwell
Avenue||
||Woodhall
Spa||
||Lincolnshire||
||LN10 6TQ||
|REGISTERED COMPANY NLIMBER|00796794 (England|and Wales)|
|REGISTERED CHARITY NUMBER|527611||
|INDEPENDENT AUDITORS|Wright Vigar Limited||
||15Newland||
||Lincoln||
||Lincolnshire||
||LN1 1XG||
|BANKERS|Barclays Bank pic||
||35 High Street||
||Horncastle||
||Lincolnshire||
||LN9 5HS||
|ACCOUNTANTS|Duncan
R.Toplis Limited||
||18Northgate||
||Sleaford||
||Lincolnshire||
||NG34 7BJ||
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|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||fund|fund|funds|funds|
||||Notes|f|f|f|f|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations
and legacies||||9,737||9,737|83,547|
|Charitable
activities||||||||
|School fees receivable||||1,711,695||1,711,695|1,600,678|
|Other educational
income||||262,407||262,407|247,967|
|Other trading activities||||26,118||26,118|22,505|
|Investment
income||||7,690||7,690|16,205|
|Other income||||1,490||1,490|6,879|
|Total||||2,019,137||2,019,137|1,977,781|
|EXPENDITURE ON||||||||
|Raising funds||||22,756||22,756|21,043|
|Charitable
activities||||||||
|Teaching costs||||63,309||63,309|93,482|
|Staff costs||||1,445,983||1,445,983|1,356,983|
|Support and welfare|costs|||272,645||272,645|185,112|
|Premises costs||||173,927||173,927|175,567|
|Financing costs||||8,027||8,027|7,978|
|Depreciation
costs||||36,807||36,807|39,520|
|Total||||2,023,454||2,023,454|1,879,685|
|NET INCOME/(EXPENDITURE)||||(4,317)||(4,317)|98,096|
|RECONCILIATION
OF|FUNDS|||||||
|Total funds brought|forward|||1,510,586||1,510,586|1,412,490|
|TOTAL FUNDS CARRIED FORWARD||||1,506,269||1,506,269|1,510,586|
##
##
|STATEMENT OF FINANCIAL
POSITION
31AUGUST 2021||||||
|---|---|---|---|---|---|
|||||2021|2020|
|||Unrestricted|Restricted|Total|Total|
|||fund|fund|funds|funds|
||Notes|f|f|f|f|
|FIXEDASSETS||||||
|Tangible assets|13|1,669,000||1,669,000|1,690,283|
|CURRENT ASSETS||||||
|Stocks|14|32,517||32,517|31,229|
|Debtors|15|559,283||559,283|495,399|
|Cash at bank and in hand||170,727||170,727|140,546|
|||762,527||762,527|667,174|
|CREDITORS||||||
|Amounts
falling due within one year|16|(844,650)||(844,650)|(767,599)|
|NET CURRENT ASSETS||(Bz,123)||(82,123)|(100,425)|
|TOTAL ASSETS LESS CURRENT LIABILITIES||1,586,877||1,586,877|1,589,858|
|CREDITORS||||||
|Amounts
falling due after more than one year|17|(80,608)||(80,608)|(79,272)|
|NET ASSETS||1,506,269||1,506,269|1,510,586|
|FUNDS|20|||||
|Unrestricted
funds||||1,506,269|1,510,586|
|TOTAL FUNDS||||1,506,269|1,510,586|
##
|FOR THE YEAR ENDED 31|AUGUST|20|21||||
|---|---|---|---|---|---|---|
||||||2021|2020|
|||||Notes|E|E|
|Cash flows from operating|activities||||||
|Cash generated
from operations|||||58,935|57,078|
|Interest paid||||||(164)|
|interest element of hire purchase||payments|||||
|pa icl|||||(2,054)|(1,861)|
|Net cash provided
by operating
activities|||||56,881|55,053|
|Cash flows from investing|activities||||||
|Purchase oftangible
fixed|assets||||(15,525)|(38,064)|
|Sale oftangible fixed assets||||||4,000|
|Interest received|||||207|517|
|Net cash used in investing|activities||||(15,318)|(33,547)|
|Cash flows from financing|activities||||||
|Hire purchase
repayments|in year||||(11,382)|3,244|
|Net cash (used in)/provided|by financing|||activities|(11,382)|3,244|
|Change
in cash and cash equivalents|||in the||||
|reporting
period|||||30,181|24,750|
|Cash and cash equivalents|at the|beginning|||||
|ofthe reporting
period|||||140,546|115,796|
|Cash and cash equivalents|at the|end|of||||
|the reporting
period|||||170,727|140,546|
##
##
|RECONCILIATION|OF NET (EXPENDITURE)/INCOME|OF NET (EXPENDITURE)/INCOME|OF NET (EXPENDITURE)/INCOME|OF NET (EXPENDITURE)/INCOME|TO NET CASH|FLOW FROM|OPERATING ACTIVITIES|OPERATING ACTIVITIES|
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||f|E|
|Net (expenditure)/income
for the|||reporting|period|(as per the||||
|Statement
of Financial Activities)|||||||(4,317)|98,096|
|Adjustments
for:|||||||||
|Depreciation
charges|||||||36,808|39,520|
|Profit on disposal|offixed assets|||||||(4,000)|
|Interest received|||||||(207)|(517)|
|Interest paid||||||||164|
|Interest element of hire purchase|||and finance|lease|renta! payments||2,054|1,861|
|(Increase)/decrease||in stocks|||||(1,288)|3,593|
|increase
in debtors|||||||(63,884)|(46,118)|
|Increase/(decrease)||in creditors|||||89,769|(35,521)|
|Net cash provided||by operations|||||58,935|57,078|
|ANALYSIS OF CHANGES IN NET FUNDS|||||||||
|||||||At 1.9.20|Cash flow|At 31.8.21|
|||||||E||E|
|Net cash|||||||||
|Cash at bank and in||hand||||140,546|30,181|170,727|
|||||||140,546|30,181|170,727|
|Debt|||||||||
|Finance leases||||||(37,838)|11,382|(26,456)|
|||||||(37,838)|11,382|(26,456)|
|Total||||||102,708|41,563|144,271|
##
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##
##
|Freehold|property|1%on cost||
|---|---|---|---|
|Plant and|machinery|15%on reducing|balance|
|Motor vehicles||15%on cost||
##
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##
|2.|DONATIONS|AND LEGACIES|AND LEGACIES||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||f|E|
||Donations||||109||
||Grants||||9,628|83,547|
||||||9,737|83,547|
||Grants received, included||in the above, are as follows:||||
||||||2021|2020|
||||||E|f|
||Coronavirus|Job Retention|Scheme||9,628|83,547|
|3.|OTHER TRADING ACTIVITIES||||||
||||||2021|2020|
||||||E|E|
||Shop income||||26,118|22,505|
|4.|INVESTIVI ENT INCOME||||||
||||||2021|2020|
||||||E|E|
||Rents received||||7,483|15,688|
||Deposit account interest||||207|517|
||||||7,690|16,205|
||INCOME FROIVI CHARITABLE ACTIVITIES||||||
||||||2021|2020|
||||Activity||E||
||Boarding pupils||School fees receivable||230,123|74,465|
||Day pupils||School fees receivable||1,481,572|1,526,213|
||Pupils extras||Other educational|income|108,009|102,106|
||Nursery||Other educational|income|54,486|62,082|
||Early years funding||Other educational|income|46,567|57,918|
||SEN funding||Other educational|income|53,345|25,861|
||||||1,974,102|1,848,645|
##
##
##
|Other trading|activities|||||
|---|---|---|---|---|---|
|||||2021|2020|
|||||f||
|Purchases||||22,756|21,043|
|CHARITABLE|ACTIVITIES COSTS|||||
|||||Support||
||||Direct|costs (see||
||||Costs|note 8)
f|Totalsf|
|Teaching casts|||63,309||63,309|
|Staff costs|||1,445,983||1,445,983|
|Support and|welfare costs||249,777|22,868|272,645|
|Premises casts|||173,927||173,927|
|Financing costs|||2,054|5,973|8,027|
|Depreciation|costs||36,807||36,807|
||||1,971,857|28,841|2,000,698|
|SUPPORT COSTS||||||
|||||Governance||
||||Finance|costs|Totals|
||||f|f|f|
|Support and|welfare costs|||22,868|22,868|
|Financing costs|||5,973||5,973|
||||5,973|22,868|28,841|
|NET INCOME/(EXPENDITURE)||||||
|Net income/(expenditure)||is stated after charging/(crediting):||||
|||||2021|2020|
|||||f|f|
|Auditors'
remuneration||||5,370|5,460|
|Depreciation|-owned assets|||23,974|23,305|
|Depreciation|-assets on hire purchase contracts and finance||leases|12,834|16,215|
|Surplus on disposal offixed||assets|||(4,000)|
|Accountancy|fees|||10,188|10,526|
##
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##
|Trustees' expe|nses||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||E||
|Trustees' expenses|||||59|370|
|Expenses were|reimbursed||to one trustee|during the year for travel expenses.|||
|STAFF COSTS|||||||
||||||2021|2020|
||||||f|E|
|Wages and salaries|||||1,185,805|1,089,179|
|Social security|costs||||99,344|89,364|
|Other pension|costs||||160,834|178,440|
||||||1,445,983|1,356,983|
|The average
monthly||number ofemployees||during the year was as follows:|||
||||||2021|2020|
|Teaching staff|||||34|35|
|Domestic staff|||||16|15|
|Administration|staff||||5|4|
||||||55|54|
|12.|COMPARATIVES
FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES
FOR THE STATEMENT OF FINANCIAL ACTIVITIES||||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Tot:al|
||||fund
f|fundf|fundsf|
||INCOME AND ENDOWMENTS|FROM||||
||Donations
and legacies||83,547||83,547|
||Charitable
activities|||||
||School fees receivable||1,600,678||1,600,678|
||Other educational
income||247,967||247,967|
||Other trading activities||22,505||22,505|
||Investment
income||16,205||16,205|
||Otherincome||6,879||6,879|
||Total||1,977,781||1,977,781|
||EXPENDITURE ON|||||
||Raising funds||21,043||21,043|
||Charitable
activities|||||
||Teaching costs||93,482||93,482|
||Staff costs||1,356,983||1,356,983|
||Support and welfare costs||185,112||185,112|
||Premises costs||175,567||175,567|
||Financing costs||7,978||7,978|
||Depreciation
costs||39,520||39,520|
||Total||1,879,685||1,879,685|
||NET INCOME||98,096||98,096|
||RECONCILIATION
OF FUNDS|||||
||Total funds brought forward||1,412,490||1,412,490|
||TOTAL FUNDS CARRIED FORWARD||1,510,586||1,510,586|
|TANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|
||Freehold|Plant and|Motor||
||property
f|machinery
E|vehicles
E|Totals
f|
|COST|||||
|At 1September
2020|1,863,212|557,177|85,559|2,505,948|
|Additions|15,525|||15,525|
|At 31August 2021|1,878,737|557,177|85,559|2,521,473|
|DEPRECIATION|||||
|At 1September 2020|281,843|511,535|22,287|815,665|
|Charge for year|17,127|6,847|12,834|36,808|
|At 31August 2021|298,970|518,382|35,121|852,473|
|NET BOOK VALUE|||||
|At 31August 2021|1,579,767|38,795|50,438|1,669,000|
|At 31August 2020|1,581,369|45,642|63,272|1,690,283|
||Motor|
|---|---|
||vehicles|
||E|
|COST||
|At 1September 2020 and 31August 2021|85,559|
|DEPRECIATION||
|At 1September 2020|25,668|
|Charge for year|12,834|
|At 31August 2021|38,502|
|NET BOOK VALUE||
|At 31August 2021|47,057|
|At 31August 2020|59,891|
|FOR|THE YEAR ENDE|D 31AU|GU|ST 2021|||
|---|---|---|---|---|---|---|
|14.|STOCKS||||||
||||||2021|2020|
||||||f|E|
||Stocks||||32,517|31,229|
|15.|DEBTORS:AMOUNTS||FALLING DUE WITHIN ONE YEAR||||
||||||2021|2020|
||||||E|E|
||Trade debtors||||520,214|454,052|
||Other debtors|||||13,819|
||Prepayments|and accrued income|||39,069|27,528|
||||||559,283|495,399|
|16.|CREDITORS: AMOUNTS|||FALLING DUE WITHIN ONE YEAR|||
||||||2021|2020|
|||||||E|
||Hire purchase|(see note||18)|11,114|11,382|
||Trade creditors||||25,727|44,268|
||Social security|and other||taxes|26,257|26,867|
||Accruals and deferred||income||781,552|685,082|
||||||844,650|767,599|
|17.|CREDITORS: AMOUNTS|||FALLING DUE AFTER MORE THAN ONE YEAR|||
||||||2021|2020|
||||||E|f|
||Hire purchase|(see note||18)|15,342|26,456|
||Accruals and deferred||income||65,266|52,816|
||||||80,608|79,272|
||2021|2020|
|---|---|---|
||f|f|
|Opening balance|4,091|16,961|
|New deposits|||
|Fee payments||(12,870)|
|Closing balance|4,091|4,091|
##
|||||||||Hire purchase|contracts|
|---|---|---|---|---|---|---|---|---|---|
|||||||||2021|2020|
|||||||||f|f|
|Net obligations||repayable:||||||||
|Within one year||||||||11,114|11,382|
|Between one|and five years|||||||15,342|26,456|
|||||||||26,456|37,838|
|||||||||Non-cancellable|operating|
|||||||||leases||
|||||||||2021|2020|
|||||||||f|f|
|Within one year||||||||8,445|19,315|
|Between one|and five years|||||||7,774|18,378|
|||||||||16,219|37,693|
|SECURED DEBTS||||||||||
|The following|secured debts are included||||within creditors:|||||
|||||||||2021|2020|
|||||||||f|f|
|Hire purchase|contracts|||||||26,456|37,838|
|The hire purchase|||liability|is secured on|the underlying|assets,||||
|MOVEMENT|IN|FUNDS||||||||
|||||||||Net||
|||||||||movement|At|
||||||||At 1.9.20|in funds|31.8.21|
||||||||f|f|f|
|Unrestricted|funds|||||||||
|General fund|||||||1,510,586|(4,317)|1,506,269|
|TOTAL FUNDS|||||||1,510,586|(4,317)|1,506,269|
##
##
##
##
||||Incoming|Resources|Movement|
|---|---|---|---|---|---|
||||resources|expended|in funds|
|||||E|f|
|Unrestricted|funds|||||
|General fund|||2,019,137|(2,023,454)|(4,317)|
|TOTAL FUNDS|||2,019,137|(2,023,454)|(4,317)|
|Comparatives|for movement|in funds||||
|||||Net||
|||||movement|At|
||||At 1.9.19|in funds|31.8.20|
||||f|f||
|Unrestricted|funds|||||
|General fund|||1,412,490|98,096|1,510,586|
|TOTAL FUNDS|||1,412,490|98,096|1,510,586|
|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|||E||E|
|Unrestricted|funds||||
|General fund||1,977,781|(1,879,685)|98,096|
|TOTAL FUNDS||1,977,781|(1,879,685)|98,096|
||||Net||
|---|---|---|---|---|
||||movement|At|
|||At 1.9.19|in funds|31.8.21|
||||E|f|
|Unrestricted|funds||||
|General fund||1,412,490|93,779|1,506,269|
|TOTAL FUNDS||1,412,490|93,779|1,506,269|
##
##
|are as follows|;||||
|---|---|---|---|---|
|||Incoming|Resources|Movement|
|||resources|expended|in funds|
|||f|E|E|
|Unrestricted|funds||||
|General fund||3,996,918|(3,903,139)|93,779|
|TOTAL FUNDS||3,996,918|(3,903,139)|93,779|
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