##
##
##
|||||||Page|
|---|---|---|---|---|---|---|
|Reference and administrative|||details|ofthe charity, its Governors|and advisers|1-2|
|Governors'|report|||||3-14|
|Independent|auditor's|report|on the|financial statements||15-18|
|Consolidated|statement|offinancial||activities||19-20|
|Consolidated|balance sheet|||||21 - 22|
|Charity balance sheet||||||23 -24|
|Consolidated|statement|ofcash flows||||25|
|Notes to the|financial statements|||||26-65|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|
|||funds|funds|funds|funds|funds|
||Note|2021
6|2021
6|2021
5|2021
6|2020
f|
|Income and|||||||
|endowments
from:|||||||
|Grants and donations||700,043|711,023||1,411,066|5,766,183|
|Charitable
activities:|||||||
|Schoolfees|4|26,325,672|||26,325,672|25,705,526|
|Other educational
income||332,256|||332,256|333,528|
|Other ancillary
trading
income||611|||611|116,930|
|Other trading
activities||1,382,044|||1,382,044|1,483,465|
|Investments||68,263|36,161|2,349|106,773|122,323|
|Other income||1,285,743|||1,285,743|707,984|
|Total income and
endowments||30,094,632|747,184|2,349|30,844,165|34,235,939|
|Expenditure
on:|||||||
|Raising funds:
Trading
activities
Fundraising
costs
Financing
costs|9
9
10|722,436
269,874
325,118|||722,436
269,874
325,118|762,416
362,546
512,139|
|Charitable
activities:|11||||||
|Education
and grant
making||26,399,993|557,411||26,957,404|26,293,677|
|Total expenditure||27,717,421|557,411||28,274,832|27,930,778|
|Net income before|||||||
|net gains/(losses)
on
investments||2,377,211|189„773|2,349|2,569,333|6,305,161|
|Net gains/(losses)
on
investments||547,814||173,970|721,784|(88,536)|
|Net income before|||||||
|transfers||2,925,025|189,773|176,319|3,291,117|6,216,625|
|Transfers
between
funds||178,286|(178,286)||||
|Net movement
in|||||||
|funds before other|||||||
|recognised|||||||
|gains/(losses)
carried
forward||3,103,311|11,487|176,319|3,291,117|6,216,625|
##
|||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|
|||funds|funds|funds|funds|funds|
||Note|2021
5|2021
5|2021
6|2021
5|2020
f|
|Net movement
in|||||||
|funds before other|||||||
|recognised
gains|||||||
|brought
forward||3,103,311|11,487|176,319|3„291,117|6,216,625|
|Actuarial
gains/(losses)|||||||
|on defined
benefit|||||||
|pension schemes||773,000|||773,000|(1,499,000)|
|Net movement
in
funds||3,876,311|11,487|176,319|4,064,117|4,717,625|
|Reconciliation
of|||||||
|funds:|||||||
|Total funds brought
forward||36,650,971|786,685|1,337,640|38,775,296|34,057,671|
|Net movement
in funds||3,876,311|11,487|176,319|4,064,117|4,717,625|
|Total funds carried||40,527,282|798,172|1,513,959|42,839,413|38,775,296|
|forward|||||||
##
##
|||||||2021|||
|---|---|---|---|---|---|---|---|---|
|||||Note|||||
|Fixed assets|||||||||
|Tangible assets||||14||41,108,674||42,324,161|
|Investments||||15||7,462,922||6,116,746|
|||||||48,571,596||48,440,907|
|Current assets|||||||||
|Stocks||||16|291,891||310,020||
|Debtors||||17|1,941,495||1,842,073||
|Cash at bank and in|hand||||8,256,938||4,496,043||
||||||10,490,324||6,648,136||
|Creditors: amounts|falling due within one||||||||
|year||||18|(6,411,746)||(5,675,029)||
|Net current assets||||||4,078,578||973,107|
|Total assets less current liabilities||||||52,650,174||49,414,014|
|Creditors: amounts
than one year|falling due after more|||19||(7,812,761)||(7,780,718)|
|Net assets excluding||pension|liability|||44,837,413||41,633,296|
|Defined benefit pension||scheme|liability|27||(1,998,000)||(2,858,000)|
|Total net assets||||||42,839,413||38,775,296|
##
##
||||||2021||2020|
|---|---|---|---|---|---|---|---|
||||Note||5||5|
|Charity funds||||||||
|Endowment
funds|||22||1,513,959||1,337,640|
|Restricted
funds|||22||798,172||786,685|
|Unrestricted
funds||||||||
|Unrestricted
funds|excluding|pension asset|22|42,525,282||39,508,971||
|Pension reserve|||22|(1998000)||(2,858,000)||
|Total unrestricted|funds||22||40,527,282||36,650„971|
|Total funds|||||42,839,413||38,775,296|
##
##
|||||Note||2021
E||2020f|
|---|---|---|---|---|---|---|---|---|
|Fixed assets|||||||||
|Tangible assets||||14||41,101,751||42,315,229|
|Investments||||15||7,462,922||6,116,746|
|||||||48,564,673||48,431,975|
|Current assets|||||||||
|Stocks||||16|64,165||80,218||
|Debtors||||17|2,194,012||2,153,777||
|Cash at bank and in hand|||||8,094,321||4,322,045||
||||||10,352,498||6,556,040||
|Creditors: amounts|falling due within one||||||||
|year||||18|(6,250,311)||(5,580,314)||
|Net current assets||||||4,102,187||975,726|
|Total assets less current liabilities||||||52,666,860||49,407,701|
|Creditors: amounts|falling due after more||||||||
|than one year||||19||(7,812,761)||(7,780,718)|
|Net assets excluding||pension|liability|||44,854,099||41,626,983|
|Defined benefit pension||scheme|liability|27||(1,998,000)||(2,858,000)|
|Total net assets||||||42,856,099||38,768,983|
##
|||||||2021||2020|
|---|---|---|---|---|---|---|---|---|
|||||Note||5|||
|Charity funds|||||||||
|Endowment
funds||||22||1,513,959||1,337,640|
|Total restricted
funds||||22||798,172||786,685|
|Unrestricted
funds|||||||||
|Unrestricted
funds|excluding|pension|liability|22|42,541,968||39,502,658||
|Pension reserve||||22|(1,998,000)||(2,858,0001||
|Total unrestricted|funds|||22||40,543,968||36,644,658|
|Total funds||||||42,856,099||38,768,983|
##
##
|||||Note|2021|2020f|
|---|---|---|---|---|---|---|
|Cash flows from operating|activities||||||
|Net cash provided
by operating
activities||||23|5,873,925|3,771,970|
|Cash flows from investing|activities||||||
|Dividends
and interest from|investments||||106,773|122,323|
|Proceeds from the sale oftangible fixed||assets|||910,466||
|Purchase oftangible
fixed assets|||||(1,357,246)|(3,899,685)|
|Proceeds from sale of investments|||||3,418,774|423,427|
|Purchase of investments|||||(4,574,637)|(469,458)|
|Net cash used
in investing|activities||||(1,495,870)|(3,823,393)|
|Cash flows from financing|activities||||||
|Cash inflaws from new borrowing||||||2,000,000|
|Repayments
of borrowing|||||(1,045,299)|(907,347)|
|Interest paid on borrowings|||||(103,332)|(99,402)|
|Net cash (used)/provided|in financing|activities|||(1,148,631)|993,251|
|Change
in cash and cash|equivalents|in|the year||3,229,424|941,828|
|Cash and cash equivalents|at the beginning||ofthe year||5,031,187|4,089,359|
|Cash and cash equivalents|at the end of||the year|24|8,260,611|5,031,187|
|The notes on pages 26to 65 form part ofthese financial statements|||||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||Unrestricted|Unrestricted|Restricted|Endowment|Endowment||Total|Total|
|---|---|---|---|---|---|---|---|---|---|
||||funds|funds||funds||funds|funds|
||||2021
6|2021||2021
6||2021
6|2020f|
|Donations|||700,043|711,023||||1,411,066|1,322,336|
|Transfer
in|ofassets|and||||||||
|liabilities
from Packwood||||||||||
|Haugh School|||||||||4,443,847|
|Total 2021|||700,043|711,023||||1,411„066|5,766,183|
|Total 2020|||4,358,558|1,384,154||23,471||5,766,183||
|On
1 August 2019 all of the assets and
liabilities||||of the Packwood||Haugh|School were transferred
into|||
|Shrewsbury|School.|The transfer|was recorded as a donation||into|Shrewsbury||School
in the|year ended|
|31 July 2020.||||||||||
|Charitable|activities|- School fees receivable||||||||
|||||||||2021|2020|
|||||||||5|5|
|The School's fee income comprised:||||||||||
|Gross fees||||||||30,054,751|28,780,869|
|Less: Total|bursaries,|scholarships|and allowances|||||(4,234,576)|(3,636,849)|
|||||||||25,820,175|25,144,020|
|Add back bursaries,
Funds||scholarships|and allowances|paid for by|Restricted|||505,497|561,506|
|||||||||26,325,672|25,705,526|
##
##
##
|Charitable
a|ctivities - Ot|her i|ncome|||
|---|---|---|---|---|---|
|||||2021
f|2020
f|
|Other educational
charitable|||income|||
|Entrance and|registration|fees||127,793|138,608|
|Courses and|sub-lettings|||145,527|135,295|
|Royalties
received||||58,936|59,625|
|||||332,256|333,528|
|||||2021f|2020f|
|Other ancillary
activities||||||
|Commissions|received|||611|3,442|
|School trips|||||113,188|
|Late payment|surcharges||||300|
|||||611|116,930|
##
|Trading|activities|SSEL|
|---|---|---|
|Trading|activities|SSTCL|
|2021
f.|2020f|
|---|---|
|938,212|919,548|
|443,832|563,917|
|1,382,044|1,483,465|
##
##
##
||2021|2020|
|---|---|---|
||6|5|
|Turnover|938,119|919,299|
|Administration|(254,091)|(224,492)|
|Operating
profit|684,028|694,807|
|Interest payable|(1,514)|(2,040)|
|Interest receivable|93|249|
|Profit for the year|682,607|693,016|
|Gift aid payment|(682,607)|(687,434)|
|Retained
profit||5,582|
##
##
|||2021|2020|
|---|---|---|---|
|||5||
|Turnover||433,614|546,453|
|Cost ofsales||(251,188)|(299,860)|
|Gross profit||182,426|246,593|
|Administration||(215,643)|(236,024)|
|Other operating|income|10,126|16,487|
|Operating
(loss)/profit||(23,091)|27,056|
|Interest receivable||92|977|
|(Loss)/profit
for the year||(22,999)|28,033|
|Gift aid payment|||(27,403)|
|Retained
(loss)/profit||(22,999)|630|
##
##
##
|||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|
|||funds|funds|funds|funds|funds|
|||2021
6|2021
F|2021
6|2021|2020f|
|Interest||7,383|||7,383|17,236|
|Dividend|income|60,660|36,161|2,349|99,390|105,087|
|Total 2021||68,263|36,161|2,349|106,773|122,323|
|Total 2020||83,818|36,156|2,349|122,323||
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021
6|2021|2020f|
|Government|grant|400,538|400,538|707,984|
|Profit on the|sale offixed assets|885,205|885,205||
|Total 2021||1,285,743|1,285,743|707,984|
|Ttl2020||707,984|707,984||
##
##
##
##
##
||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2021
5|2021
6|2020f|
|Other costs|||331,377|331,377|367,176|
|Staff costs|||389,050|389,050|393,150|
|Depreciation|||2,009|2,009|2,090|
|Total 2021|||722,436|722,436|762,416|
|Total 2020|||762,416|762,416||
|Fundraising|for voluntary|resources||||
||||Unrestricted|Total|Total|
||||funds|funds|funds|
||||2021|2021|2020|
||||6|||
|Other costs|||104,655|104,655|130,764|
|Staff costs|||165,219|165,219|231,782|
|Total 2021|||269,874|269,874|362,546|
|Total 2020|||362,546|362,546||
##
##
##
||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2021
5|2021
F|2020f|
|Fees in advance financing||cost|91,595|91,595|92,670|
|Bad debts and debt|collection||54,867|54,867|227,242|
|Bank and investment|manager charges||38,324|38,324|63,825|
|Loan interest|||103,332|103,332|99,402|
|Pension scheme financing||cost|37,000|37,000|29,000|
|Total 2021|||325,118|325,118|512,139|
|Total 2020|||512,139|512,139||
##
|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2021|2021|2021|2020|
|||6|6|6|5|
|Teaching||12,366,406||12,366,406|12,603,128|
|Welfare||4,008,013||4,008,013|3,442,817|
|Premises||6,709,697||6,709,697|6,320,614|
|Support and governance||3,315,877||3,315,877|3,335,801|
|Grants, awards|and prizes||557,411|557,411|591,317|
|Total 2021||26,399,993|557,411|26,957,404|26,293,677|
|Total 2020||25,702,360|591,317|26„293,677||
##
##
##
##
||||||Total|Total|
|---|---|---|---|---|---|---|
|||Staff costs|Depreciation|Other costs|funds|funds|
|||2021|2021|2021|2021|2020|
|||||5|K||
|Teaching||11,123,381||1,243,025|12,366,406|12,603,128|
|Welfare||1,107,017||2,900,996|4,008,013|3,442,817|
|Premises||2,204,272|2,545,472|1,959,953|6,709,697|6,320,614|
|Support and governance||2,071,389||1,244,488|3,315,877|3,335,801|
|Grants, awards|and prizes|||557,411|557,411|591,317|
|Total 2021||16,506,059|2,545,472|7,905,873|26,957,404|26,293,677|
|Total 2020||16,390,607|2,498,062|7,405,008|26,293,677||
|||||2021|2020|
|---|---|---|---|---|---|
|||||6|5|
|From restricted funds:||||||
|Bursaries and|scholarships|||505,497|561,506|
|Prizes and awards||||51,914|29,811|
|||||557,411|591,317|
|Governance|included||in support costs:|||
|||||2021|2020|
|||||5|5|
|Remuneration|paid|to auditor for audit services||42,360|41,640|
|Remuneration|paid|to auditor for non- audit services||15,252|14,076|
|Other governance||costs||135,303|87,143|
|||||192,915|142,859|
##
##
##
##
|Staff costs||||||
|---|---|---|---|---|---|
|||Group|Group|Charity|Charity|
|||2021f|2020f|2021f|2020f|
|Wages and salaries||13,559,480|13,594,684|13,225,958|13,241,094|
|Social security|costs|1,377,142|1,376,131|1,344,618|1,352,611|
|Other pension|costs (Note 27)|2,146,137|2,069,754|2,123,133|2,053,714|
|||17,082,759|17,040,569|16,693,709|16,647,419|
|Less capitalised|labour costs|(22,431)|(25,030)|(22,431)|(25,030)|
|||17,060,328|17,015,539|16,671,278|16,622,389|
||Group|Group|
|---|---|---|
||2021|2020|
||No.|No.|
|Teaching|233|244|
|Welfare|56|58|
|Premises|123|121|
|Support|68|68|
|Other activities|12|13|
||492|504|
##
##
##
||||Group|Group|
|---|---|---|---|---|
||||2021|2020|
||||No.|No,|
|In the band|f60,001 - E70,000||31|31|
|In the band|E70,001 - f80,000||12|11|
|In the band|E80,001 - E90,000||1|3|
|In the band|E90,001 - E100,000||2|1|
|In the band|f130,001 - E140,000||1|1|
|In the band|f140,001 - F150,000||1|1|
|In the band|E230,001 - E240,000|||1|
|In the band|f240,001 - f250,000||||
|Aggregate|employee
benefits of key management|personnel|1,531,074|1,492,717|
##
##
##
##
||Assets in|Freehold|Furniture,||Ground||
|---|---|---|---|---|---|---|
||course of|Land 6|Fixtures||Machines||
||construction
f|Buildings
E|and fittings
5|Boats
5|&Vehicles|Total
E|
|Cost or valuation|||||||
|At 1 August 2020|3,615,531|53,187,806|10,389,863|982,687|1,286,156|69,462,043|
|Additions|580,687|275,000|296,005|80,050|125,504|1,357,246|
|Disposals||||(15,769)|(104,155)|(119,924)|
|Transfers
between|||||||
|classes|(3,556,080)|3,539,866|22,936||(6,722)||
|At 31July2021|640,138|57,002,672|10,708,804|1,046,968|1,300,783|70,699,365|
|Depreciation|||||||
|At 1 August 2020||17,634,986|7,908,087|697,951|896,858|27,137,882|
|Charge for the year||1,705,854|701,292|58,682|81,644|2,547,472|
|On disposals||||(15,769)|(78,894)|(94,663)|
|At 31 July 2021||19,340,840|8,609,379|740,864|899,608|29,590,691|
|Net book value|||||||
|At 31 July 2021|640,138|37,661,832|2,099,425|306,104|401,175|41,108,674|
|At 31July 2020|3,615,531|35,552,820|2,481,776|284,736|389,298|42,324,161|
##
##
##
##
|||Assets in|Freehold|Furniture,||Ground||
|---|---|---|---|---|---|---|---|
|||course of|Land &|Fixtures &||Machmes||
|||construction|Buildings|fittings|Boats|&Vehicles|Total|
|||5|5|E|E|5|5|
|Cost orvaluation||||||||
|At 1 August 2020||3,615,531|53,187,806|10,375„939|982,687|1,286,156|69,448,119|
|Additions||580,687|275,000|296,005|80,050|125,504|1,357,246|
|Disposals|||||(15,769)|(104,155)|(119,924)|
|Transfers|between|||||||
|classes||(3,556,080)|3,539,866|22,936||(6,722)||
|At 31 July|2021|640,138|57,002,672|10,694,880|1,046,968|1,300,783|70,685,441|
|Depreciation||||||||
|At 1 August 2020|||17,634,986|7,903,095|697,951|896,858|27,132,890|
|Charge for the year|||1,705,854|699,283|58,682|81,644|2,545,463|
|On disposals|||||(15,769)|(78,894)|(94,663)|
|At 31 July|2021||19,340,840|8,602,378|740,864|899,608|29,583,690|
|Net book|value|||||||
|At 31July|2021|640,138|37,661,832|2,092,502|306,104|401,175|41,101,751|
|At 31 July|2020|3,615,531|35,552,820|2,472,844|284,736|389,298|42,315,229|
##
##
##
|||Designated|Endowed|Fees in||
|---|---|---|---|---|---|
|Group and charity||Fund
6|Funds
6|Advance|Totalf|
|Cost or valuation||||||
|At 1 August 2020||1,588,511|1,315,789|3,212,446|6,116,746|
|Additions||3,014,237|1,560,400||4,574,63?|
|Disposals||(1„906,745)|(1,512,029)||(3,418,774)|
|Net investment|gains|213,516|174,100|334,168|721,784|
|Movement
in cash deposits||(444,310)|(47,718)|(39,443)|(531,471)|
|At 31 July 2021||2,465,209|1,490,542|3,507,171|7,462,922|
|Net book value||||||
|At 31 July 2021||2,465,209|1,490,542|3,507,171|7,462,922|
|At 31 July 2020||1,588,511|1,315,789|3,212,446|6„116,746|
##
|||2021f|2020f|
|---|---|---|---|
|Actively managed|securities|3,504,519|3,170,350|
|Quoted stocks||3,954,730|2,411,251|
|Cash||3,673|535,144|
|Total market value||7,462,922|6,116,745|
##
##
##
##
||2021f|2020f|
|---|---|---|
|Link Fund Solutions - Ruffer Total Return|1,803,162|1,524,716|
|Link Fund Solutions - Trojan Inc|1,701,356|1,645,634|
|Sarasin Endowments
Fund Class A Inc|3,953,396||
##
||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|
||||||2021f|2020f|2021f|2020f|
|Goods|for|resale|and|consumables|291,891|310,020|64,165|80,218|
##
|Debtors||||||
|---|---|---|---|---|---|
|||Group|Group|Charity|Charity|
|||2021f|2020f|2021f|2020f|
|School fees||563,854|458,327|563,854|458,327|
|Amounts
owed by group undertakings||||941,120|963,990|
|Other debtors||1,123,749|1,155,805|447,326|524,335|
|Prepayments|and accrued income|253,892|227,941|241,712|207,125|
|||1,941,495|1,842„073|2,194,012|2,153,777|
##
##
||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|
||||2021f|2020f|2021f|2020f|
|Trade creditors|||598,362|194,237|592,556|183,304|
|Other taxation|and social security||369,610|345,029|356,133|343,237|
|Fee deposits|||860„844|910,966|860,844|910,966|
|Fees in advance (see||note 20)|2,492,062|1,765,438|2,492,062|1,765,438|
|Other creditors|||1,087„851|1,037,280|1,068,614|998,737|
|Accruals and deferred||income|416,944|375,287|294,029|331,840|
|Other loan|||65,000|65,000|65,000|65,000|
|Term loan 1|||146,049|428,593|146,049|428,593|
|Term loan 2||||461,486||461,486|
|Term loan 3|||375,024|91,713|375,024|91,713|
||||6,411,746|5,675,029|6,250,311|5,580,314|
##
||||Group|Group|Charity|Chanly|
|---|---|---|---|---|---|---|
||||2021
6|2020|2021f|2020f|
|Loan|from Shrewsbury|School Foundation|1,296,046|1,296,046|1,296,046|1,296,046|
|Fees|deposits||2,765,080|2,671,920|2,765,080|2,671,920|
|Fees|in advance (see|note 20)|1,590,038|1,066,575|1,590,038|1,066,575|
|Other|loan||628,334|693,334|628,334|693,334|
|Term|loan 1|||144,556||144,556|
|Term|loan 3||1,533,263|1,908,287|1,533,263|1,908,287|
||||7,812,761|7,780,718|7,812,761|7,780,718|
##
##
||2021f|2020|
|---|---|---|
|Between 1-2years|65,000|65,000|
|Between 2-5 years|195,000|195,000|
|Over 5years|368,334|433,334|
||628,334|693,334|
##
##
##
##
##
##
||2021|2020|
|---|---|---|
||6||
|Between 1-2 years|388,815|374,985|
|Between 2-5 years|1,144,448|1,209,813|
|Over 5years||323,489|
||1,533,263|1,908,287|
##
##
##
||||2021
5|2020f|
|---|---|---|---|---|
|Within||1-2years|707,543|582,974|
|Within||2-5 years|882,495|451,079|
|Over|5|years||32,522|
||||1,590,038|1,066,575|
|Within||1 year|2,492,062|1,765,438|
||||4,082„100|2,832,013|
|||||2021
F|2020f|
|---|---|---|---|---|---|
|Balance|at 1 August 2020|||2,832,013|3,097,448|
|Transfer|in from|Packwood|Haugh School||183,128|
|New contracts||||3,346,009|2,299,176|
|Amounts|accrued|to contracts||91,595|92,670|
|||||6,269,617|5,672,422|
|Amounts|utilised|in payment|offees to the School|(2,187,517)|(2,840,409)|
|Balance|at 31 July 2021|||4,082,100|2,832,013|
##
##
##
##
|Analysis|of net assets|between funds -|current year||||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|Total|
||||funds|funds|funds|funds|
||||2021|2021|2021|2021|
|||||6|8|E|
|Tangible fixed assets|||41,108,674|||41,108,674|
|Fixed asset investments|||5,972,380||1,490,542|7,462,922|
|Current assets|||9,668,735|798,172|23,417|10,490,324|
|Creditors|due within one year||(6,411,746)|||(6,411,746)|
|Creditors|due in more than one year||(7,812,761)|||(7,812,761)|
|Provisions|for liabilities|and charges|(1,998,000)|||(1,998,000)|
|Total|||40,527,282|798,172|1,513,959|42,839,413|
|Analysis|of net assets between funds -|prior year||||
|---|---|---|---|---|---|
|||Unrestri cted|Restricted|Endowment|Total|
|||funds|funds|funds|funds|
|||2020|2020|2020|2020|
||||5|E||
|Tangible|fixed assets|42,324,161|||42,324,161|
|Fixed asset investments||4,800,957||1,315,789|6,116,746|
|Current assets||5,839,600|786,685|21,851|6,648,136|
|Creditors|due within one year|(5,675,029)|||(5,675,029)|
|Creditors|due in more than one year|(7,780,718)|||(7,780,718)|
|Provisions|for liabilities and charges|(2,858,000)|||(2,858,000)|
|||36,650,971|786,685|1,337,640|38,775,296|
##
##
##
|22.|Statement offunds|||||||
|---|---|---|---|---|---|---|---|
||Statement offunds|- current year||||||
||Balance at 1||||Transfers|Gains/|Balance at|
||August 2020
5||Income
E|Expenditure
6|in/(out)
6|(Losses)
6|31July 2021
f|
||Unrestricted|||||||
||funds|||||||
||Designated|||||||
||funds|||||||
||Designated|||||||
||funds|1,606,097|42,094||888,164|213,515|2,749,870|
||Unrestricted|||||||
||funds|||||||
||General funds|37,896,561|28,670,494|(27,081,985)|(27,271)|334,299|39,792,098|
||Subsidiary|||||||
||trading|6,313|1,382,044|(722,436)|(682,607)||(16,686)|
||Pension scheme|||||||
||funding
deficit|(2,858,000)||87,000||773,000|(1,998,000)|
|||35,044,874|30,052,538|(27,717,421)|(709,878)|1,107,299|37,777,412|
||Total|||||||
||Unrestricted|||||||
||funds|36,650,971|30,094,632|(27,717,421)|178,286|1,320,814|40,527,282|
||Endowment|||||||
||funds|||||||
||Capital|1,195,506||||163,356|1,358,862|
||Re-endowment|||||||
||fund|141,634|2,349|||10,614|154,597|
||Hentschrew|||||||
||Prize Fund|500|||||500|
|||1,337,640|2,349|||173,970|1,513,959|
##
##
|22.|Statement|offunds (continued)|offunds (continued)|offunds (continued)||||||
|---|---|---|---|---|---|---|---|---|---|
||||Balance at 1||||Transfers|Gains/|Balance at|
||||August|2020f|Income
E|Expenditure
5|in/(out)
5|(Losses)
5|31July 2021|
||Restricted|funds||||||||
||Shrewsbury|||||||||
||School|||||||||
||Foundation||60,800||664,128|(495,653)|(178,286)||50,989|
||Guyer Family|||||||||
||Prize|||180|40|(40)|||180|
||Hentschrew|Prize||80|||||80|
||Darwin|||||||||
||Scholarship||7,212||||||7,212|
||Harg reeves|||||||||
||Legacy|||500|||||500|
||Salopian
Club||||16,120|(16,120)||||
||Duffell Prize|Fund|4,940||||||4,940|
||Shrewsbury|||||||||
||School Parents'|||||||||
||Association||||365|(365)||||
||Consolidated|||||||||
||Fund:|||||||||
||Unappropriated|||||||||
||income||605,431||36,161|(15,088)|||626,504|
||COVID Support||17,956||8,110|(26,066)||||
||Art Fund||2,000||||||2,000|
||DFE Grant-|||||||||
||Cross|||||||||
||Partnership|||||||||
||Grant||||20,000|(922)|||19,078|
||Gym Fund||||1,400||||1,400|
||External|||||||||
||Bursaries||||860|(860)||||
||Packwood-|||||||||
||Redevelopment|||||||||
||ofScience|||||||||
||Facilities||85,289||||||85,289|
||Packwood-|||||||||
||COVID Support||2,297|||(2,297)||||
||||786,685||747,184|(557,411)|(178,286)||798,172|
||Total offunds||38,775,296||30,844,165|(28,274,832)||1,494,784|42,839,413|
##
##
|22.|Statement offunds|(continued)||||||
|---|---|---|---|---|---|---|---|
||Statement offunds|- prior year||||||
|||Balance at||||||
|||1Augusl|||Transfers|Gatnss|Balance at|
|||2019f|Income
f|Expenditure|inl(out)
f|(Losses)
f|31July 2020
f|
||Unrestricted|||||||
||funds|||||||
||Designated|||||||
||funds|||||||
||Designated|||||||
||Funds - all|||||||
||funds|1,317,388|32,279||381,531|(125,101)|1,606,097|
||Unrestricted|||||||
||funds|||||||
||General funds|32,149,590|31,274,065|(26,680,045)|973,213|179,738|37,896,561|
||Subsidiary|||||||
||trading|101|1,483,465|(762,416)|(714,837)||6,313|
||Pension scheme|||||||
||funding
deficit|(1,462,000)||103,000||(1,499,000)|(2,858,000)|
|||30,687,691|32,757,530|(27,339,461)|258,376|(1,319,262)|35,044,874|
||Total|||||||
||Unrestricted|||||||
||funds|32,005,079||(27,339,461)|639,907|(1,444,363)|36,650,971|
||Endowment|||||||
||funds|||||||
||Capital|1,329,944||||(134,438)|1,195,506|
||Re-endowment|||||||
||fund|124,549|25,820|||(8,735)|141,634|
||Hentschrew|||||||
||Prize Fund|500|||||500|
|||1,454,993|25,820|||(143,173)|1,337,640|
##
##
|||Balance at||||||||
|---|---|---|---|---|---|---|---|---|---|
|||1August||||Transfers|Gainsr|Balance|at|
|||2019f|Income
f|Expenditure|f|in/(out)
f|(Losses)
f|31Ju/y 2020
f||
|Restricted funds||||||||||
|Shrewsbury||||||||||
|School||||||||||
|Foundation||401|1,252,092|(551,836)||(639,857)||60,800||
|Guyer Family||||||||||
|Prize||170|40|(30)||||180||
|Hentschrew|Prize|80||||||80||
|Darwin||||||||||
|Scholarship||7,212||||||7,212||
|Hargreaves||||||||||
|Legacy||500||||||500||
|Bursary Fund|||6,423|(6„423)||||||
|Salopian Club|||17,292|(17,292)||||||
|Duftell Prize|Fund|4,940||||||4,940||
|Shrewsbury||||||||||
|School Parents'||||||||||
|Association|||315|(315)||||||
|Consolidated||||||||||
|Fund:||||||||||
|Unappropriated||||||||||
|income||584,296|36,156|(15,021)||||605,431||
|COVID Support|||17,956|||||17,956||
|Art Fund|||2,000|||||2„000||
|Sports Leaders||||||||||
|Fund|||400|(400)||||||
|Packwood-||||||||||
|Redevelopment||||||||||
|ofScience||||||||||
|Facilities|||85,289|||||85,289||
|Packwood-||||||||||
|COVID Support|||2,297|||||2,297||
|Packwood-||||||||||
|Theatre||||||||||
|development|||50|||(50)||||
|||597,599|1,420,310|(591,317)||(639,907)||786,685||
|Total offunds||34,057,671|1,446,130|(27,930,778)|||(1 587 536)|38775 296||
##
##
##
##
##
##
||||||Group|Group|
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||6|5|
||Net income for the year (as per Statement||of Financial Activities)||3,291,117|6,216,625|
||Adjustments
for:||||||
||Depreciation
charges||||2,547,472|2,500,152|
||(Gains)/losses
on investments||||(721,784)|88,536|
||Dividends
and interest from investments||||(106,773)|(122,323)|
||(Profit)/loss
on the sale offixed assets||||(885,205)|422|
||Decrease/(increase)
in stocks||||18,129|(49,247)|
||Increase
in debtors||||(99,422)|(382,137)|
||Increase
in creditors||||1,814,059|176,864|
||Pension scheme movement||||(87,000)|(103,000)|
||Interest paid on borrowings||||103,332|99,402|
||Packwood
Haugh School fixed assets transferred|||in||(4,653,324)|
||Net cash provided
by operating|activities|||5,873,925|3,771,970|
|24.|Analysis ofcash and cash equivalents||||||
||||Group|Group|
|---|---|---|---|---|
||||2021
5|2020f|
|Cash|at bank||8,256,938|4,496,043|
|Cash|held|in investments|3,673|535,144|
|Total|cash|and cash equivalents|8,260,611|5,031,187|
##
##
##
|||||||Other non-||
|---|---|---|---|---|---|---|---|
|||||At 1 August||cash|At 31July|
|||||2020|Cash flows|changes|2021|
||||||6|E||
|Cash|at bank|||4,496,043|3,760,895||8,256,938|
|Cash|held|in investments||535,144|(531,471)||3,673|
|Debt|due|within|1 year|(1,046,792)|1,045,299|(584,580)|(586,073)|
|Debt|due|after 1 year||(4,042,223)||584,580|(3,457,643)|
|||||(57,828)|4,274,723||4,216,895|
##
|Group|Group|
|---|---|
|2021|2020|
||5|
|2,510,994|218,271|
##
##
##
##
##
##
##
|Principal
actuarial
a|ssumptions
at the Balance s|heet date|(expressed as we|ighted
averages):||
|---|---|---|---|---|---|
|||||At 31July|At 31Ju/y|
|||||2021|2020|
|||||'/o|0/|
|Discount rate||||1.50|1.30|
|Future salary increases - pre 2030||||2.35|1.95|
|Future salary increases - post 2030||||3.05|1.95|
|Inflation assumption|(RPI) - pre 2030|||3.25|2.85|
|Inflation assumption|(RPI) - post 2030|||3.05|2.85|
|Inflation assumption|(CPI) - pre 2030|||2.35|1.95|
|Inflation assumption|(CPI) - post 2030|||3.05|1.95|
|Pre 6/4/1 997 (fixed|3'/o)|||3.00|3.00|
|Post 6/4/1 997(RPI|min 3'/o, max 5/o - Option A|members)|- pre 2030|3.65|3.50|
|Post 6/4/1997 (RPI|min 3/o, max 5'/o - Option A|members)|- post 2030|3.55|3.50|
|Post 6/4/1997 (CPI|min 3'/o, max 5'/o - Option B|members)|- pre 2030|3.30|3.20|
|Post 6/4/1 997(CPI|min 3'/o, max 5'/o - Option B|members)|-post 2030|3.55|3.2|
##
##
##
||At 31July|At 31Ju/y|
|---|---|---|
||2021|2020|
||Years|Years|
|Mortality rates (in years)|||
|-for a male aged 65 now|22.0|22.0|
|-at 65for a male aged 45 now|23.0|23.0|
|-for afemale aged 65 now|24.4|24.4|
|- at 65 for a female aged 45 now|25.6|25.5|
##
||||At 31 July|At 31Ju/y|
|---|---|---|---|---|
||||2021f|2020f|
|Discount|rate +0.25'/o||(344,000)|(377,000)|
|RPI rate +0.25'/o|||104,000|71,000|
|C PI rate +0.25'/0|||37,000|25,000|
|Assumed|life expectancy age 65|- increase by 1 year|280,000|292,000|
|The Group's share ofthe assets||in the scheme was;|||
||||At 31July|At 31Ju/y|
||||2021f|2020f|
|Equities|||2,866,000|2,267,000|
|Bonds|||722,000|697,000|
|Property|||879,000|806,000|
|Target return|||1,187,000|1,065,000|
|Insurance|annuities||1,607,000|1,886,000|
|Cash|||88,000|158,000|
|Total fair|value ofassets||7,349,000|6,879,000|
##
##
|The amounts
recognised
in|the Consolidated
Sta|tement
of Financial Activities|are as follows:||
|---|---|---|---|---|
||||2021|2020|
||||6|E|
|Current service cost - within|Schools and grant making||28,000|24,000|
|Net interest on pension scheme liabilities - within||finance charges|37,000|29,000|
|Total amount recognised|in the Consolidated|Statement of Financial|||
|Activities|||65,000|53,000|
|Moveme|nts
in th|e present value ofthe defined
benefit obli|gation
were as follows:||
|---|---|---|---|---|
||||2021|2020|
||||E|5|
|Opening|defined|benefit obligation|9,737,000|8,615,000|
|Contributions
by||scheme participants|3,000|4,000|
|Actuarial|(gains)/losses||(211,000)|1,300,000|
|Benefits|paid||(335,000)|(383,000)|
|Current|service cost||28,000|24,000|
|Interest|cost||125,000|177,000|
|Closing|defined|benefit obligation|9,347,000|9,737,000|
||||2021
E|2020f|
|---|---|---|---|---|
|Opening|fair|value ofscheme assets|6,879,000|7,153,000|
|Interest|income||88,000|148,000|
|Actuarial|gains/(losses)||562,000|(199,000)|
|Contributions||by employer|152,000|156,000|
|Contributions||by scheme participants|3,000|4,000|
|Benefits|paid||(335,000)|(383,000)|
|Closing|fair|value ofscheme assets|7,349,000|6,879,000|
##
##
##
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
||||||||5|
|Opening|deficit|||||(2,858,000)|(1,462,000)|
|Employer|contributions|||||152,000|156,000|
|Charge recorded||in Statement||of Financial Activities||(65,000)|(53,000)|
|Actuarial|loss received||in Statement||ofFinancial Activities|773,000|(1,499,000)|
|||||||(1,998,000)|(2,858,000)|
##
|||||Group and|Group and|
|---|---|---|---|---|---|
|||||Charity|Charity|
|||||2021
6|2020f|
|Group and Charity||Amounts|payable:|||
|Within
1|year|||39,543|52,287|
|Between|1 and 5 years|||41,323|70,524|
|After more than 5 years|||||5,208|
|||||80,866|128,019|
|||Group|Group|
|---|---|---|---|
|||2021
6|2020f|
|Group and Charity||||
|Operating|lease rentals|51,430|54,410|
##
##
##
|||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|
|||||2021
6|2020f|2021
6|2020f|
|Financial|assets|||||||
|Financial|assets|measured|at fair value|||||
|through|income|and expenditure||7,462,922|6,116,746|7,462,922|6,116,746|
||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|
||||2021f|2020f|2021f|2020f|
|Total investment
income||for financial assets|||||
|measured|at fair value|through
income and|||||
|expenditure|||106,773|122,323|106„773|122,323|
|Net (gain)/loss
on financial assets measured|||||||
|at fair value through
income and expenditure|||721,784|(88,536)|721,784|(88,536)|
|Impairment|loss /(gains)|on financial assets|||||
|measured|at amortised|cost|44,138|219,288|44,138|219„288|
|Total interest|expense for financial
liabilities||||||
|held at amortised cost|||103,332|99,402|103,332|99,402|
##
##
##
||||Unrestricted|Restricted|Endowment||
|---|---|---|---|---|---|---|
||||funds|funds|funds|Total funds|
||||2020f|2020
f|2020
f.|2020
f|
|Income and endowments:|||||||
|Grants and donations|||4,358,558|1,384,154|23,471|5,766,183|
|Charitable
activities:|||||||
|School fees|||25,705,526|||25,705,526|
|Other educational
income|||333,528|||333„528|
|Other ancillary
trading income|||116,930|||116,930|
|Other trading
activities|||1,483,465|||1,483,465|
|Investments|||83,818|36,156|2,349|122,323|
|Other income|||707,984|||707,984|
|Total income|||32,789,809|1,420,310|25,820|34„235,939|
|Expenditure
on: Raising funds:|||||||
|Trading activities|||762,416|||762,416|
|Fundraising
costs|||362,546|||362,546|
|Financing costs|||512,139|||512,139|
|Charitable
activities:|||||||
|Education
and grant making|||25,702,360|591,317||26,293,677|
|Total expenditure|||27,339,461|591,317||27,930,778|
|Net income before investment|||||||
|gains/(losses)|||5,450,348|828,993|25,820|6,305,161|
|Net gains/(losses)
on investments|||54,637||(143,173)|(88,536)|
|Net income before transfers|||5,504,985|828,993|(117„353)|6,216,625|
|Transfers
between
Funds|||639,907|(639,907)|||
|Net income before other recognised
and losses||gains|6,144,892|189,086|(117,353)|6,216,625|
|Actuarial
(losses)/gains
on defined
pension schemes|benefit||(1,499,000)|||(1,499,000)|
|Net movement
in funds|||4,645,892|189,086|(117,353)|4,717,625|
|Reconciliation
offunds:|||||||
|Total funds brought
forward|||32,005,079|597,599|1,454,993|34,057,671|
|Total funds carried forward|||36,650,971|786,685|1,337,640|38,775,296|