|TRUSTEES||R DI Bussell - Chairman|R DI Bussell - Chairman||
|---|---|---|---|---|
|||TJ Bogg|||
|||Mrs CM Twigg|||
|||W M Phelan|||
|||Mrs J C Vincent|||
|||Mrs E C Would|||
|||Dr R M Sharpe|||
|||I RTyler|||
|||A Mansergh|||
|||Mrs K A Pindar|||
|REGISTERED OFFICE||Cromwell
Avenue|||
|||Woodhall
Spa|||
|||Lincolnshire|||
|||LN10 6TQ|||
|REGISTERED COMPANY NUMBER||00796794 (England|and|Wales)|
|REGISTERED CHARITY NUMBER||527611|||
|INDEPENDENT|AUDITORS|Wright Vigar Limited|||
|||Statutory
Auditors|||
|||Chartered
Accountants||Jk Business Adviser|
|||15 Newland|||
|||Lincoln|||
|||Lincolnshire|||
|||LN1 1XG|||
|BANKERS||Barelays Bank pic|||
|||65 Lumley Road|||
|||Skegness|||
|||Lincolnshire|||
|||PE25 3LU|||
|ACCOUNTANTS||Duncan
&Toplis Limited|||
|||18Northgate|||
|||Sleaford|||
|||Lincolnshire|||
|||NG34 7BJ|||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||||2023|2022|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||fund|fund|funds|funds|
|||Notes|E|E|E|E|
|INCOME AND ENDOWMENTS|FROM||||||
|Donations
and legacies|||2,383||2,383|4,538|
|Charitable
activities|||||||
|School fees receivable|||1,811,846||1,811,846|1,912,548|
|Other educational
income|||477,207||477,207|320,718|
|Other trading
activities
Investment
income|||26,178
33,899||26,178
33,899|17,873
22,485|
|Otherincome|||4,316||4,316|5,187|
|Total|||2,355,829||2,355,829|2,283,349|
|EXPENDITURE ON|||||||
|Raising funds|||18,125||18,125|12,982|
|Charitable
activities|||||||
|Teaching costs
Staff costs|||215,398
1,706,084||215,398
1,706,084|118,590
1,522,910|
|Support and welfare costs
Premises costs|||256,361
187,521||256,361
187,521|256,443
408,695|
|Financing costs
Depreciation
costs|||8,298
36,273||8,298
36,273|8,446
35,780|
|Total|||2,428,060||2,428,060|2,363,846|
|NET INCOME/(EXPENDITURE)|||(72,231)||(72,231)|(80,497)|
|RECONCILIATION
OF FUNDS|||||||
|Total funds brought forward|||1,425,772||1,425,772|1,506,269|
|TOTAL FUNDS CARRIED FORWARD|||1,353,541||1,353,541|1,425,772|
|||||2023|2022|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||fund|fund|funds|funds|
||Notes|E|6|E|E|
|FIXED ASSETS||||||
|Tangible assets|13|1,606,053||1,606,053|1,633,220|
|CURRENTASSETS||||||
|Stocks|14|36,319||36,319|38,217|
|Debtors|15|700,810||700,810|636,515|
|Cash at bank and in hand||55||55|157,724|
|||737,184||737,184|832,456|
|CREDITORS||||||
|Amounts
falling due within one year|16|(926,923)||(926,923)|(980,901)|
|NET CURRENT ASSETS||(189,739)||(189,739)|(148,445)|
|TOTAL ASSETSLESSCURRENT LIABILITIES||1,416,314||1,416,314|1,484,775|
|CREDITORS||||||
|Amounts
falling due after more than one year|17|(62,773)||(62,773)|(59,003)|
|NET ASSETS||1,353,541||1,353,541|1,425,772|
|FUNDS|21|||||
|Unrestri«ted
funds||||1,353,541|1,425,772|
|TOTALFUNDS||||1,353,541|1,425,772|
##
|FOR THE YEAR ENDED 31|AUGUST|202|3|||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
||||||Notes|6|5|
|Cash flows from operating|activities|||||||
|Cash generated
from operations||||||(155,804)|138|
|Interest
paid||||||(155)||
|Interest element of hire purchase||payments|||paid|(2,232)|(2,054l|
|Net cash used in operating|activities|||||(158,191)|(1,916)|
|Cash flows from investing|activities|||||||
|Purchase oftangible fixed|assets|||||(9,106)||
|Interest received||||||1,089|27|
|Net cash (used in)/provided|by mvesting|||activities||(8,017)|27|
|Cash flows from financing|activities|||||||
|New hire purchase
agreements||||||7,434||
|Hire purchase
repayments|in year|||||(12,972)|(11,114)|
|Net cash used in finanong|activities|||||(5,538)|(11,114)|
|Change in cash and cash equivalents|||in|the||||
|reporting
period||||||(171,746)|(13,003)|
|Cash and cash equivalents|atthe|beginning|||of|||
|the reporting
period||||||157,724|170,727|
|Cash and cash equivalents|at the|end|ofthe|||||
|reporting
period||||||(14,022)|157,724|
##
##
##
|RECONCILIATION|O|F NE|T EX|PEND|ITURE TO NET|CASH FLOW FROM OPERAT|ING ACTIVIT|IES||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2023|2022|
|||||||||f|6|
|Net expenditure|for|the|reporting||period (as per|the Statement of Financial||||
|activities)||||||||(72,231)|(80,497)|
|Adjustments
for:||||||||||
|Depreciation
charges||||||||36,273|35,780|
|Interest received||||||||(1,089)|(27)|
|Interest paid||||||||155||
|Interest element|of hire||purchase||and finance lease rental payments|||2,232|2,054|
|Decrease/(increase)||in stocks||||||1,898|(5,700)|
|Increase
in debtors||||||||(64,295)|(77,232)|
|(Decrease)/increase||in creditors||||||(58,747)|125,760|
|Net cash (used in)/provided||||by operations||||(155,804)|138|
|ANALYSIS OF CASH AND|||CASH EQUIVALENTS|||||||
|||||||||2023|2022|
|||||||||6|f|
|Cash in hand||||||||54|500|
|Notice deposits (less||than 3 months)||||||1|157,224|
|Overdrafts
included||in bank loans|||and overdrafts|falling due within one year||(14,077)||
|Total cash and cash equivalents||||||||(14,022)|157,724|
|ANALYSIS OF CHANGES|||IN NET FUNDS/(DEBT)|||||||
|||||||At|1.9.22|Cash flow|At 31.8.23|
||||||||6|f|6|
|Net cash||||||||||
|Cash at bank and|in|hand|||||157,724|(157,669)|55|
|Bank overdraft||||||||(14,077)|(14,077)|
||||||||157,724|(171,746)|(14,022)|
|Debt||||||||||
|Finance leases|||||||(15,342)|5,538|(9,804)|
||||||||(15,342)|5,538|(9,804)|
|Total|||||||142,382|(166,208)|(23,826)|
##
##
##
##
##
##
##
##
##
##
|DONATIONS|AND LEGACI|ES|||
|---|---|---|---|---|
||||2023|2022|
||||E|E|
|Donations|||2,383|3,226|
|Grants||||1,312|
||||2,383|4,538|
|Grants received, included||in the above, are as follows:|||
||||2023|2022|
||||f|E|
|Coronavirus|iob Retention|Scheme||1,312|
|||Page 16||continued. ..|
|FORT|HE YEAR ENDED 31AUGUST 2023|HE YEAR ENDED 31AUGUST 2023|||||||
|---|---|---|---|---|---|---|---|---|
|3.|OTHER TRADING ACTIVITIES||||||||
||||||||2023|2022|
||||||||f|5|
||Shop income||||||26,178|17,873|
|4.|INVESTMENT|INCOME|||||||
||||||||2023|2022|
||||||||f|E|
||Rents received||||||32,810|22,458|
||Deposit account interest||||||1,089|27|
||||||||33,899|22,485|
||INCOME FROM CHARITABLE ACTIVITIES||||||||
||||||||2023|2022|
||||Activity||||E|E|
||Boarding
pupils||School fees receivable||||165,038|211,227|
||Day pupils||School fees receivable||||1,646,808|1,701,321|
||Pupils extras||Other educational|mco|me||246,024|131,998|
||Nursery||Other educational|income|||98,166|79,225|
||Early years funding||Other educational|income|||73,359|66,548|
||BEN funding||Other educationalincome||||59,658|42,947|
||||||||2,289,053|2,233,266|
|6.|RAISING FUNDS||||||||
||Other trading|activities|||||||
||||||||2023|2022|
||||||||E|E|
||Purchases||||||18,125|12,982|
|7.|CHARITABLE ACTIVITIES COSTS||||||||
||||||||Support||
|||||||Direct|costs(see||
|||||||Costs|note 8)|Totals|
|||||||E|f|E|
||Teaching costs|||||215,398||215,398|
||Staff costs|||||1,706,084||1,706,084|
||Support and welfare costs|||||238,132|18,229|256,361|
||Premises costs|||||187,521||187,521|
||Financing costs|||||2,387|5,911|8,298|
||Depreciation|costs||||36,273||36,273|
|||||||2,385,795|24,140|2,409,935|
##
##
##
|||||Governance||
|---|---|---|---|---|---|
||||Finance|costs|Tote Is|
||||f|6|E|
|Support and|welfare costs|||18,229|18,229|
|Financing costs|||5,911||5,911|
||||5,911|18,229|24,140|
|NET INCOME/(EXPENDITURE)||||||
|Net income/(expenditure)||is stated after charging/(crediting);||||
|||||2023
6|2022f|
|Auditors'
remuneration||||6,030|4,650|
|Depreciation|- owned assets|||22,324|22,946|
|Depreciation|-assets on hire purchase contracts and finance leases|||13,949|12,834|
|Accountancy|fees|||6,798|11,277|
##
##
##
|There were
no trustees'|There were
no trustees'|remuneration|or|other|benefits|for the year|ended 31 August|2023 nor for|the year
ended|
|---|---|---|---|---|---|---|---|---|---|
|31August 2022.||||||||||
|Trustees' expenses||||||||||
|||||||||2023|2022|
|||||||||6|f|
|Trustees'
expenses|||||||||409|
|Expenses were reimbursed||to one trustee|in|the prior year for travel expenses.||||||
|STAFF COSTS||||||||||
|||||||||2023|2022|
|||||||||E|6|
|Wages and salanes||||||||1,393,261|1,252,834|
|Social security costs||||||||123,052|107,049|
|Other pension costs||||||||187,585|160,166|
|||||||||1,703,898|1,520,049|
|The average
monthly|number of employees|||during|the year|was as follows:||||
|||||||||2023|2022|
|Teaching staff||||||||41|37|
|Domestic staff||||||||16|16|
|Administration
staff||||||||6|6|
|||||||||63|59|
|The number ofemployees||whose employee||benefits (excluding employer|||pension costs) exceeded f60,000was:|||
|||||||||2023|2022|
|660,001 - 670,000|||||||||1|
|670,001-680,000||||||||||
||||||Page 17||||continued. ..|
##
##
|COMPARATIVES FOR THE STA|TEMENT OF FINANCIAL A|CTIVITIES|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||fund|fund|funds|
|||E|E|f|
|INCOME AND ENDOWMENTS|FROM||||
|Donations
and legacies||4,538||4,538|
|Charitable
activities|||||
|School fees receivable||1,912,548||1,912,548|
|Other educational
income||320,718||320,718|
|Other trading
activities||17,873||17,873|
|Investment
income||22,485||22,485|
|Otherincome||5,187||5,187|
|Total||2,283,349||2,283,349|
|EXPENDITURE ON|||||
|Raismg funds||12,982||12,982|
|Charitable
activities|||||
|Teaching costs||118,590||118,590|
|Staff costs||1,522,910||1,522,910|
|5upport
and welfare costs||256,443||256,443|
|Premises costs||408,695||408,695|
|Financing costs||8,446||8,446|
|Depreciation
costs||35,780||35,780|
|Total||2,363,846||2,363,846|
|NET INCOME/(EXPENDITURE)||(80,497)||(80,497)|
|RECONCILIATION
OF FUNDS|||||
|Total funds brought forward||1,506,269||1,506,269|
|TOTAL FUNDS CARRIED FORWARD||1,425,772||1,425,772|
##
|||||||
|---|---|---|---|---|---|
|3.|TANGIBLE FIXEDASSETS|||||
|||Freehold|Plant and|Motor||
|||property
E|machinery
6|vehicles
f|Totals
6|
||COST|||||
||At 1September 2022|1,878,737|557,177|85,559|2,521,473|
||Additions||9,106||9,106|
||At 31August 2023|1,878,737|566,283|85,559|2,530,579|
||DEPRECIATION|||||
||At 1September
2022|316,097|524,201|47,955|888,253|
||Charge for year|17,127|6,312|12,834|36,273|
||At 31August 2023|333,224|530,513|60,789|924,526|
||NET BOOK VALUE|||||
||At 31August 2023|1,545.513|35,770|24,770|1,606,053|
||At 31August 2022|1,562,640|32,976|37,604|1,633,220|
||Fixed assets, included|in the above, which are held under hire purchase|contracts are as follows:|||
||||Plant and|Motor||
||||machinery|vehicles|Totals|
||||f|f|6|
||COST|||||
||At 1September 2022|||85,559|85,559|
||Additions||7,434||7,434|
||At 31August 2023||7,434|85,559|92,993|
||DEPRECIATION|||||
||At 15eptember 2022|||51,336|51,336|
||Charge for year||1,115|12,834|13,949|
||At 31August 2023||1,115|64,170|65,285|
||NET BOOK VALUE|||||
||At 31August 2023||6,319|21,389|27,708|
||At 31August 2022|||34,223|34,223|
|14.|STOCKS|||||
|||||2023|2022|
|||||6|6|
||Stocks|||36,319|38,217|
##
##
##
##
##
|||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|---|
|||||||||6|6|
|Trade debtors||||||||630,987|516,072|
|Other debtors||||||||23|95|
|Prepayments|and accrued income|||||||69,800|120,348|
|||||||||700,810|636,515|
|CREDITORS: AMOUNT5|||||FALLING DUE WITHIN ONE YEAR|||||
|||||||||2023|2022|
|||||||||6|5|
|Bank loans and||overdrafts
(see note 18)||||||14,077||
|Hire purchase||(see note|||19)|||5,606|11,114|
|Trade creditors||||||||44,747|61,477|
|Social security||and|other||taxes|||30,678|28,203|
|Other creditors||||||||88,483|20,487|
|Accruals and|deferred|||income||||743,332|859,620|
|||||||||926,923|980,901|
|CREDITORS: AMOUNTS|||||FALLING DUE AFTER MORE THAN ONE YEAR|||||
|||||||||2023|2022|
|||||||||6|E|
|Hire purchase||(see note|||19)|||4,198|4,228|
|Accrua la and|deferred|||income||||58,575|54,775|
|||||||||62,773|59,003|
|Deferred
income|||represents|||the fees in advance|scheme, This is cash received|m advance for fees which|will be
applied|
|against fees chargeable|||||in the|future.||||
|||||||||2023|2022|
|||||||||f|6|
|Opening
balance|||||||||4,091|
|New deposits||||||||||
|Fee payments|||||||||(4.091)|
|Closing balance||||||||||
|LOANS||||||||||
|An analysis of||the|maturity ofloans is given below:|||||||
|||||||||2023|2022|
|||||||||f|E|
|Amounts
falling due within one year on demand:||||||||||
|Bank overdrafts||||||||14,077||
##
##
##
##
||||||||||Hire purchase contracts|Hire purchase contracts|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2023|2022|
||||||||||6|6|
|Net obligations|repayable:||||||||||
|Within one year|||||||||5,606|11,114|
|Between one|and|five years|||||||4,198|4,228|
||||||||||9,804|15,342|
||||||||||Non-cancellable|operating|
||||||||||leases||
||||||||||2023|2022|
||||||||||f|6|
|Within one year|||||||||16,494|21,154|
|Between one|and five years||||||||29,496|31,200|
||||||||||45,990|52,354|
|SECURED DEBTS|||||||||||
|The fallowing|secured debts are included|||||within creditors:|||||
||||||||||2023|2022|
||||||||||6|6|
|Bank overdraft|||||||||14,077||
|Hire purchase|contracts||||||||9,804|15,342|
||||||||||23,881|15,342|
|The bank overdraft|||is secured against the land and buildings ofthe school.||||||||
|The hire purchase|||liability|&ssecured on the underlying|||assets.||||
|MOVEMENT|IN|FUNDS|||||||||
||||||||||Net||
||||||||||movement|At|
|||||||||At 1.9.22|in funds|31.8.23|
|||||||||f|6|6|
|Unrestricted|funds||||||||||
|General fund||||||||1,425,772|(72,231)|1,353,541|
|TOTALFUNDS||||||||1,425,772|(72,231)|1,353,541|
|Net movement||in|funds, included||in the|above are as|follows:||||
|||||||||Incoming|Resources|Movement|
|||||||||resources
6|expended
f|in funds
f|
|Unrestricted|funds||||||||||
|General fund||||||||2,355,829|(2,428,060)|(72,231)|
|TOTALFUNDS||||||||2,355,829|(2,428,060)|(72,231)|
##
##
||||||||Net||
|---|---|---|---|---|---|---|---|---|
||||||||movement|At|
|||||||At 1.9.21|in funds|31.8.22|
|||||||f|6|f|
|Unrestricted|funds||||||||
|General fund||||||1,506,269|(80,497)|1,425,772|
|TOTAL FUNDS||||||1,506,269|(80,497)|1,425,772|
|Comparative|net movement||in funds, included|in the above are|as follows:||||
|||||||Incoming|Resources|Movement|
|||||||resources|expended|in funds|
|||||||6|6|6|
|Unrestricted|funds||||||||
|General fund||||||2,283,349|(2,363,846)|(80,497)|
|TOTALFUNDS||||||2,283,349|(2,363,846)|(80,497)|
|A current year 12months||and pnor year 12months combined|||position|is as follows:|||
||||||||Net||
||||||||movement|At|
|||||||At 1.9.21|in funds|31.8.23|
|||||||6|6|6|
|Unrestricted|funds||||||||
|General fund||||||1,506,269|(152,728)|1,353,541|
|TOTALFUNDS||||||1,506,269|(152,728)|1,353,541|
|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|||f||6|
|Unrestricted|funds||||
|General fund||4,639,178|(4,791,906)|(152,728)|
|TOTAL FUNDS||4,639,178|(4,791,906)|(152,728)|
##
##
##