2020-08-31-accounts - Tettenhall College

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	Governors, oAicers and advisers	Governors, oAicers and advisers
	Annual Report ofthe	Governors
	Strategic Report
	Statement ofAccounting and Reporting		Responsibilities
23	Independent Auditor's	Report
26	Statement offinancial	activities
27	Balance Sheet
29	Cash flow Statement
30	Notes to the financial	statements

Bankers	Lloyds Bank PLC, Queen Square, Wolverhampton,	Lloyds Bank PLC, Queen Square, Wolverhampton,	WV I IUE
Solicitors	Rees Page, 8-12 Waterloo Road,	Wolverhampton	WVI 4BL
Auditors	Crowe U.K.LLP, Black Country	House, Rounds	Green Road, Gldbury,
	West Midlands, B692DG
lusurers	JelfInsurance Services Limited,	Csstleieea, Lower Castle Street, Bristol, BSI
	3AG

				Unrestricted	Restricted	Eadowed	2020	2019
			Notes	Funds	Funds	Funds	Total	Total
					8
Income and endowinents	from:
Charitable activities
School fees receivable				4,502,890			4,502,890	5,071,644
Ancillary trading income				98,498			98,498	161,986
Other trading activities
Non-ancillary trading income				59,706			59,706	158,441
Investinents
Bank and other interest				1,057			1,057	2,081
Voluntary sources
Grants aud donations				138,130	6,678		144,808	135,460
Other income
Coronavirus Job Retention Scheme				183,775			183,775
Total incoming resources				4,984,056	6,678		4,990,734	5,529,612
Expenditure on:
Charitable activities
Education			7	5,393,715	5,478		5,399,193	5,495,345
Other trading activities
Trading activities				85,970			85,970	92,079
Total expenditure				5,479,685	5,478		5,485,163	5,587,424
Net (outgoing) funds	from
operations before transfers		and		(495,629)	1400		(494,429)	(57,812)
investment gains
Gain/(loss) on investments			12			(4,325)	(4425)	2,651
Net movement in funds year	for	the		(495,629)	1400	(4,325)	(498,754)	(55,161)
Fund balances brought at I September 2019	forward			5,072,304	20,000	133,979	5,226,283	5,281,444
Fund balances carried forward at 31stAugust 2020				4,576,675	21,200	129,654	4,727,529	5,226,283

			Note	Group	Group		College	College
				2020	2019		202D	2019
Fixed assets
Tangible assets			11	6,603,405	6,792,791	6,603,405		6,792,791
Investments			12	118,014	127,339		118,114	127,439
				6,721,419	6,92D,130	6,721&519		6,920,230
Current assets
Stock				88485	72,432		3,000	13,]24
Debtors			13	320,428	377,603		412462	516,011
Cash and deposits				493,867	1,064,092		457,123	946,257
				902,680	1,514,127		872,485	1,475,392
Current liabilities
Creditors payable year	within	one	14	(1,939,657)	(2,165,828)	'	'	(2, 154,998)
Net current liabilities				(1&036&977)	(651,701)	(1	037077)	(6796Q6)
Total assets less current		liabilities		5,684,442	6,268,429	5,684,442		6,240,624
Long-term liabilities
Creditors payable	aiter	one
year			]5	(956,913)	(1,042,146)	(956,913)		(1,042,146)
Net assets				4,727,529	5,226,283	4,727,529		5,198,478
Represented by:
Endowed funds			21	129,654	133,979		129,654	133,979
Restricted funds			21	21,200	20,000		21/00	20,000
Unrestricted funds
-General Reserve			21	4436&325	4,831,954	4336/25		4,804,149
- Designated funds	for capital
projects			21	240&350	240,350		240450	240,350
				4,727,529	5,226,283	4&727,529		5,198,478

		2020	2020	2019
Net cash outflow from operations
Nct cash provided by / (nsed operating activities	in)		(405,527)	1,580
Cash flows from investiag activities:
Payinents for tangible fixed assets		(34,047)		(56,120)
Proceeds from sales of tangible fixed
assets
Proceeds on sale ofinvestments		5,000		5,000
Investment income and bank interest received		1,057		2,081
Net cash used in investing activities			(27,990)	(49,039)
Cash flows from financing activities:
Loan repayments		(103,277)	(145,695)
Finance costs paid		(33,431)		(41,774)
Net cash used in financing activities			(136,708)	(187,469)
Change in cash snd cash equivalents the reporting period	in		(S70,225)	(234,928)
Cash and deposits at 31 August 2019			1,064,092	1,299,020
Cash and deposits at 31 August 2020			493,867	1,064,092
Reconcilistioa ofnet income to net cash flow		from operating	activities
Net incoming resources			(494,429)	(57,812)
Eliinination ofnon-operating cash flows:
-Investment income and bank interest				(2,081)
-Finance costs				41,774
Depreciation charge				230,655
Decrease/(increase) in stock				10,234
(Increase)/decrease in debtors				(100,492)
Increase/(decrease) in creditors				(120,698)
			88,902	59,392
Net cash inflow from operations			(405,527)	1,580
The notes oa pages 30to 4Sform part ofthese financial statements,

CHARITABLE		ACTI	VITIES —FEESRECEIVABLE
				2020	2019
Fees receivable	consist		of:
School fees				5,629,539	6,284,420
Less: total scholarships			and bursaries	~2226 649	~7212 776
CHARITABLE		ACTIVITIES —OTHER INCOME
				2020	2019
Transport				15@29	22,516
Surplus on pupils'		rechargeables		1,042	1,577
Schooltrips				13,974	70,555
Uniform shop				~67953	67338
					~ll 986

OTHER TRADING ACTI	VITIES
			2020	2019
Trading income
Hire offacilities —School			2,016	1,435
Hire offacilities —Tettenhail	College Enterprises	Lunited	~57 690	157006

6.	GRANTS AND DONATIONS RECEIVABLE	GRANTS AND DONATIONS RECEIVABLE	GRANTS AND DONATIONS RECEIVABLE	GRANTS AND DONATIONS RECEIVABLE	GRANTS AND DONATIONS RECEIVABLE
				Unrestricted	Restricted	Endowment	Total	Total
							2020	2019
		Development donations		137,500			137,500	125,000
		PTA			4,478		4,478	10,000
		Jarman Charitable	Trust	300			300	300
		Parent		250	1,000		1,250
		Old Tettenhallians		80	1400		1&280	160
				138,130	6,678		144,808	135,460
7.	ANALYSIS OFEXPENDITURE
				Staffcosts	Depreriation	Other	Total	Total
				(note 9)	(note 11)		2020	2019
				g
Charitable expenditure
Education
Teaching				2,748,963	l9,304	175,605	2,943,872	2,916,656
Welfare Premises repair and maintenance				279,733 !93,278	204,129	421,495 521,632	701,228 919,039	758,832 1,039,320
Support		costs and governance		278,285		523,338	801,623	738,763
Interest		payable				33,431	33,431	41,774
Total	charitable expenditure			3,500,259	223,433	1,675,501	5,399,193	5,495,345

Governance	included	included
			2020	2019
Remuneration	paid	to auditor for audit services	17,950	13,400
Other governance		costs	1,050	3,954
			19,000	17,354

STAFF COS	TS AND RELATEI7 PARTY TRANSACTIONS
		2020	2019
The aggregate	payroll costs for the year were as follows:
Wages and salaries		2,820,666	2,822,728
Social security	costs	257,794	245,909
Other pension	costs	421,799	303,842
		3,500,259	3,372,479

Number ofpaid einployees	in bands of:
f60,001 to f70,000
f.120,000to f,130,000

The average number of	The average number of	the College's employees	the College's employees	during the year was:
					2020	2019
Teaching					81	78
Welfare					18	17
Premises					13	11
Support					18	17
					130	123
NET INCOMING RESOURCES
					2020	2019
This is stated atter charging
Depreciation					223,433	230,655
Operating	lease rentals				40,716	37,292
Auditors*	remuneration:	audit services (exclusive		ofVAT)	14,958	13,167
Auditors'	remuneration:	non-audit	services (exclusive ofVAT)		875	1,128

	Freehold land and buildings	Furniture aud fittings	Vehicles and equipment	Assets under the course of construction	Total
Cost
At l September 2019	7@34&537	755,698	281,260	115,297	8,486,792
Additions		6,578	27,469		34,047
Disposals
At 31August 2020	7/34+37	762,276	308,729	115,297	8,520,839
Depreciation
At 1 September 2019	1&066/57	3S1,059	246&685		1,694,001
Charge for the year	143,568	60,561	19,304		223,433
Dispose)a
At 31August 2020	1,209,825	441,620	265,989		1,917,434
Net book value
At 31August 2020	6,124,712	320,656	42&740	I15/97	6,603,405
At 31 August 2019	6,268,280	374,639	34,575	115,297	6,792,791

					Group	College	Group	College
					2020	2020	2019	2019
					5		f.
At l September 2019					127,339	127,439	129,688	129,788
(Decrease)/increase			in value	ofinvestments	(4425)	(4,325)	2,651	2,651
Additions
Disposal					(5,000)	(5,000)	(5,000)	(5,000)
Iuvestments		at 31	August 2020		118,014	118,114	127,339	127,439
Investments		comprise:
Listed investments
Equities
Transact	Portfolio				118,014	118,014	127,339	127,339
Subsidiary
Tettenhall	College		Enterprises	Ltd		100		100
					118,014	118,114	127,339	127,439

				Group	College	Group	College
				2020	2020	2019	2019
Fees and	extras			206,805	206,805	216,654	216,654
Other debtors				9,581	2,431	17,706	3,959
Amounts	owed from subsidiary		undeitaking		99,084		152,155
Other prepayments		and accrued	income	104,042	104,042	143,243	143,243
				320,428	412/62	377,603	516,011

14.	CREDITORS: amounts	CREDITORS: amounts	falling due	within one year	within one year
					Group		College	Group	College
					2020		2020	2019	2019
							f.
Deposits from parents					159,841		159,841	174,072	174,072
Mortgage loans					149,064		149,064	167,108	167,108
Fees	received fram parents	in	advance ofterm		873,425		873,425	1,360,144	1,360,144
Trade creditors					128,701		98,607	205,338	194,508
Amounts owed to subsidiary		undertaking
Taxation and social security					404,670		404,670	60,186	60,186
Other	creditors				52,157		52,157	41,453	41,453
Accruais and deferred income					171,799		171,799	157,527	157,527
					1,939,657		1,909463	2,165,828	2,154,998
15.	CREDITORS: amounts		falling due after more than one			year
					Group		College	Group	College
					2020		2020	2019	20I9
					f.
	Mortgage loans				956,913		956,913	1,042,146	1,042,146
16.	MORTGAGE LOANS
	Group and College
	At the balance sheet date,		the mortgage	loans were repayable		as	follows:
								2020	20I9
	Within I year							149,064	I67,108
	ln I —2 years							168,041	164,7I8
	In 2 —5years							537,639	523,968
	In more than 5 years							251,233	353,460
								1,105,977	1,209,254

					Group	Group
					2020	2019
Financial	assets measured	at	amortised cost (a)		209,237	274,360
Financial	assets measured	at	fair value (b)		575&237	1,191,431
Financial	liabilities measured		at amortised	cost (c)	(2,488,674)	(3,147,78g)

	2020	2019
Operating leases which expire:
Within one year	31&300	30,797
Within two to five years	27,726	31,966

c) UNRESTRICTED FUNDS	c) UNRESTRICTED FUNDS	c) UNRESTRICTED FUNDS
f1,000,000 of funds were designated to be used towards future			building projects.	Of this f759,650	has
been spent on capital 2020. The remaining	and revenue costs related to capital these unrestricted funds represent accumulated		projects leaving income from the	f240,350 at 31 August College's activities and
other resources that are available for the general purposes ofthe College.
20. ANALYSIS OFNKT	ASSETSBETWEEN FUNDS
At 31August 2020	Endowed	Restricted	Unrestricted	Total
	5
Tangible fixed assets		20,000	6,583,405	6,603,405
Investments	118,014			110,014
Net current liabilities	11,640	1,200	(1,049,817)	(1,036,977)
Long term liabilities			(956,913)	(956,913)
	129,654	21400	4)576,675	4,727,529
At31August 2019	Endowed	Restricted	Unrestrictedf	Total
Tangible fixed assets		20,000	6,772,791	6,792,791
Securities investments	127,339			127,339
A'et current liabilities	6;640		(658,341)	(651,701)
Long term liabilities			(1,042,146)	(1,042,146)
	133,979	20,000	5,072,304	5,226,283

21. SUMMARY OFMOVEMEN	TS ON MA	JOR FUNDS
At 31August 2020	At 1	Incoming	Resources	Gains/	Funds	At31
	Sept	resources	expended	(Losses)	transfer	August
	2019					2020
	f,
Unrestricted funds
General reserve	4,831,954	4,984,056	(5,479,685)			4436,325
Designated fund —Building
projects	240 350					240,350
	5i072404	4,984,056	(5,479,685)			4,576,675
Restricted funds
Aston paintings	20,000					20,000
Forest School		1,000	(1&000)
Eco club		300	(300)
Archery		300	(300)
Garden furniture		3,878	(3,878)
OT Bursarisl Fund		50				50
OT Towers Restoration Project		1,150				1,150
	20,000	6,678	(5,478)			21,200
Endowed - Permanent
Clay endowment	133,979			(4425)		129,654
	133,979			(4425)		129,654
Total Funds	5,226483	4,990,734	(5,485,163)	(4,325)		4,727429
At 31Augiist 2019	AtI	Incoming	Resources	Gains!	Funds	At31
	Sept	resources	expendeil	(Losses)	transfer	August
	2018f	I				2019
Unrestricted funds
General reserve	4,767,510	5,419,612	(5,477, 424)		122,256	4,831,954
Designated fund —Capital prof eels	362,606				(122,256)	240,350
	5,130,116	5,419,612	(5,477424)			5,072,304
Restricted fimds
Development Fund		100,000	(100,000)
Aston legacy	20,000					20,000
Theatre curtains		5,000	(5,000)
Grand Piano		5,000	(5,000)
	20,000	110,000	(110,000)			20,000
Endowed - Permanent
Clay endowment	131,328			2,651		133,979
	131,328			2,651		133,979
Total Funds	5,281,444	5,529,612	(5,587,424)	2,651		5,226,283

25. STATEMENT OF FINAN	25. STATEMENT OF FINAN	CIAL ACTIVITIE	S —COMPARAT	IVE FIGURES	BYFUND TY
Year ended 31August 2019		Unrestricted	ifestricted	Endowed	Funds tolal
		f	f		f
Income and endoivnhents	from;
Charitable activities
Schoolfees receivable		5,071,644			5,071,644
Ancillary trading income		161,986			161,986
Other trading activilies
ihlon-anci llary trading income		158,441			158,441
Investmenls
Inveslmenl income		2,081			2,081
Bank and other interesl
Voluntary sources		25,460	110,000		135,460
Grants and donations
Total incoming resources		5,419,6'12	110,000		5,529,612
Expenditure ont
Charitable activities		5,385,345	110,000		5,495,345
Edh ication
Olher trading activhies
Trading activities		92,079			92,079
Total expenditure		5,477,424	110,000		5,587,424