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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||
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|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|||
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|||||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|
##
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||||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|
##
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|||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,|||||
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|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|in support costs:|||
|---|---|---|---|---|---|
|||||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|
##
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|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|
##
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|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|