2021-03-31-accounts - The Grammar School Of King Edward Vi At Stratford-Upon-Avon

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			Page
Report ofthe Trustees			1 to 6
Rcport ofthc Independent Auditors			7 to 9
Consolidated Statement ofFinancial Activities			10
Charity Statement ofFinancial		Activities
Consolidated Balance	Sheet		l2to 13
Charity Balance Sheet			14to 15
Cash Flow Statement			l6
Notes to the Cash Flow Statement			17
Notes lo Ihc Financial	Statements		18 to 34
Detailed Statenaent of	Financial	Activities	35 to 36

								2021		2020
				Unrestricted	Restricted	Endowment	Total	funds	Total	funds
				fund	fund	fund
			Notes	K
INCOME AND
ENDO%%IENTS	FROM
Donations and legacies				293,909	52,314			346,223		653,109
Trading Subsidiary				147,474				147,474	261,237
Investment income				26,644				26,644		22,644
Other income				60				60
Total				468,087	52,314			520,401	936,991
EXPENDITURE	ON
Raising funds				40,171	26,477			66,648		49,807
Charitable activities
Grants to the Governors				329,894				329,894	416,745
Guild Hall Project					43,335			43,335		47,402
School development				134,385				134,385		144,797
Trading activities
Trading subsidiaries		expenses		167,571				167,571	320,051
Total				672,021	69,812			741,833	978,802
Net gains/(losses)	on
invcstmcnts				198582				]98,582		36,946
NET
INCOME/(EXPENDITURE)				(5,352)	(17,498)			(22,850)		(4,865)
RECONCILIATION		OF
FUNDS
Total funds brought		forward		3,878,337	1,360,651	4,674,270	9,913,258		9,918,123
TOTAL FUNDS CARRIFD
FOR'WARD				3,872985	1343 153	4 674 270	9	890408	9,913,258

							2021	2020
				Unrestricted	Restricted	Endowment	Total	Total
				fund	fund	fund	funds	funds
			Notes
INCOME AND
ENDOWMENTS	FROM
Donations and legacies			2A	293,909	98,4OO		392,309	653,109
Investment income			4	26,644			26,644	22,644
Other income				60			60
Total				320,613	98,400		419,013	675,753
EXPENDITURE	ON
R411slllg funds			5	368,410	26,477		394,887	49,807
Charitable activities
Grants to thc Governors				329,894			329,894	416,745
G1uild Hall Project					43,335		43,335	47,402
School developmenl.				134,385			134,385	144,796
Other					46 086		46,086
Total				832,689	115,898		948,587	658,750
Net gains on investments				198,582			198582	36,946
NET
INCOME/(EXPENDITURE)				(313,494)	(17,498)		(330,992)	53,949
RECONCILIATION		OF
FUNDS
Total funds brought		forward		4,245,819	1,360,651	4,674,270	10,280,740	10,226,791
TOTAL FUNDS CARRIED
FORWARD				3932325	1343153	4 674270	9 949748	10280 740

						2021	2020
			Unrestricted	Restricted	Endowment	Total	Total funds
			t'und	fund	fund	funds
		Notes
FIXEDASSETS
Inlangiblc assets		14A	12,022			12,022	13,730
Tangible assets		15A	4,258,345	1,301,360	3,829,270	9,388,975	9,537,430
Investments
Residential property		17			845 000	845 000	845,000
			4,270,367	1,30I,360	4,674,270	10,245,997	I0,396,I60
CURRENT ASSETS
Stocks			14,945			14,945	14,690
Debtors		18A	25,935			25,935	34,306
Invcsimenh		19	940,136			940,136	425,206
Cash at bank			60,331	41793		102123	261,015
			1,041,347	41,793		1,083,139	735,2I7
CREDITORS
Amounts falling due within	one
year		20A	(2551244)			(255,244)	( I45,274)
NET CURRENT ASSETS			786,103	41,793		827,896	589,943
TOTAI, ASSETSLESS
CURRENT LIABILITIES			5,056,470	1,343,153	4,6745270	11,073,893	10,986,103
CREDITORS
Amounts falling due after more
than one year		2I	(1,183,485)			(1,183,485)	(I,072,845)
NET ASSETS			3,872,985	1343,153	4,674,270	9 890408	9,913,258
FUNDS		23
Unrestricted funds						3,872,985	3,878,337
Restr icted funds						1,343,153	1,360,651
Endowment funds						4,674 270	4,674,270
TOTAL FUNDS						9 890408	9,913,258

							2021	2020
				Unrestricted	Restricted	Endowment	Total	Total
				fund	fund	fund	funds	funds
			Notes
FIXEDASSETS
Tangible assets			I5B	4,258,073	1,301,360	3,829,270	9,388,703	9,536,285
Investments
Investments			16				4	4
Investment property			17			845,000	845 000	845,000
				4,258,077	1,301,360	4,674,270	10,233,707	10,381,289
CURRENT ASSETS
Debl.ors			18B	58,640			58)640	434,538
Investments			19	940,136			940,136	425,206
Cash at bank				51465	41793		93,258	248,228
				1,050,241	41,793		1,092,034	1,107,972
CREDITORS
Amounts falling	due within	one
year			208	(192,508)			(192,508)	(135,676)
NE'I' CURRENT ASSETS				857,733	41,793		1199526	972,296
TOTAL ASSETSLESS
CURRENT LIABILITIES				5)115&810	1&343&153	4&674&270	11)133)233	l I 353 585
CREDITORS
Amounts falling duc after more
than one year			21	(1,183,485)			(1,183,485)	(1,072,845)
NET ASSETS				3,932,325	1,343,153	4,6'74,270	9,949748	10,280,740
II'UNDS
Unrestricted funds							3,932,325	4,245,819
Restricted funds							1,343,153	1,360,651
Endowment funds							4674 270	4,674,270
TOTAL FUNDS							9,949,748	10,280,740

					2021	2020
				Notes
Cash flows from operating	activities:
Cash gcncratcd from operations					14,164	240,734
hiterest paid					(21,199)	(30,4 I7)
Nct cash provided by (used in) operating
activities					~7035)	210,317
Cash flows from investing	activities:
Purchase of tangible fixed assets						(2,953)
Purchase ofintangible fixed	assets					(1,908)
Sale ofcuncni asset in vestments					59,084	60,848
Purchase ofcurrent asset investmcnts					(375,433)	(209,354)
Dividends received					25,438	16,876
Interest received					6	8
Nct cash provided by (used	in) investing
activities					(290 905)	i)36,453)
Cash flows from financing	activities:
New lnans in year					200,000
Loan repayments in year					~60,952)	(114,876)
Net cash provided by (used	in) financing
activities					139,048	(114,876)
Change iu cash and cash equivalents		in the
reporting period					(158,892)	(41,042)
Cash and cash equivalents	at the beginning		of
the reporting period					261 1)15	302,057
Cash and cash equivalents	at the enil	of the
reporting period					102,123	261,015

RECONCILIATION	RECONCILIATION	RECONCILIATION		OFNET INCOME TO NET CASH	OFNET INCOME TO NET CASH	OFNET INCOME TO NET CASH	FLOW FROM	OPERATING ACI'IVITIES	OPERATING ACI'IVITIES
								2021	2020
Net income	for the	reporting			period (as per the statement		of1'inancial
activities)								(22,850)	(4,865)
Adlustmenis	for:
Depreciation	and amortisation				charges			150,163	159,302
(Gain)/losses	on investmenLs							(198,582)	(36,946)
Interest paid								21,199	30,417
Interest recei	ved							(6)	(8)
Dividends received								(25,438)	(16,876)
(increase)/decrease		in	stock					(255)	1,420
(Increase)/decrease		in	debtors					8,370	123,741
Increase/(decrease)		in creditors						81563	(15,448)
Net cash provided		by	(used in) operating			activities		14,164	240,734
ANALYSIS	OF CASH			AND	CASH EQUIVALENTS
							At 1.4.20	Cash flow	At 31.3,21
Net cash
Cash at bank							261,015	(158,892)	102,123
							261,015	(158,892)	102,123
Liquid resources
Current asset	investments						425,206	514,930	940,136
							425,206	514,930	940 136
Debt
Debts falling	due within			l year			(1239739)	(28,408)	(152,147)
Debts falling	due after		I	year			(1,072,845)	(110,640)	(1,183,485)
							(1,196,584)	(139048)	(1,335,632)
Total							(510363)	216990	(293373)

	Completed	in the year ended 31stMarch
I'itzmaurice Building		1987
New Arts Block		1995
Levi I'nx Hall		1998
Denis Dyson Science Building		2008

			2021	2020
Donai.ions			161	534
Grants			346,062	652,575
			346 223	653,109
Grants	received, included	in the above, are as follows:
			2021	2020
Guild Estate			275,735	634,974
William	Tyler Charity		18,013	17,60 l
National	Heritage Lottery		52,314
			346062	652,575

				2021	2020
	Donations			161	534
	Grants			392,148	652,575
				392309	653,109
	Grants received, included		in the above, are as follows;
				2021	2020
	Guild Estate			275,735	634,974
	William Tyler Charily			18,013	17,601
	National Heritage Lottery			98 400
				392 148	052,575
3.	TRADING SUBSIDIARIES INCOME
				2021	2020
	Sales			147,474	261,237
				1~47 474	261,237
4.	INVESTMENT INCOME
				2021	2020
	Rents receivable			1,200	5,760
	Income from listed	investments		25,438	16,876
	Deposit account interest			6	8
				~26 644	22,644
5.	RAISING I'UNDS
	Raising donations	and legacies
				2021	2020
				f.
	1VIaintcnance ofschool property			66,477	49,678
	Costs ofobtaining	grants		170	129
				66,647	49,807
	Bad debts			328 240
	Aggregate antounts			394,887	49,807

			Grant
			funding of
		Direct costs	activities	Support costs	Totals
		(Scenote 8)	(Seenote 9)	(Seenote 10)
	Guild Hall Project School development Grants to the Governors 43,335 134,196		293469	189 36425	43,335 134,385 329594
		177,531	293469	36 614	507,614
7.	TRADING ACTIVITY COSTS
				2021	2020
	Cost ofsales			1113	40,795
	Administrative costs			~166458	279,256
				167,571	320,051
8.	DIRECT COSTS OF CHARITABI.EACTfs9'ITIES
				2021	2020
	Advertising			280
	School development costs Depreciation Interest payable and similar charges			8„471 147,581 21199	7,877 153,905 30,417
				177,531	192,199
9.	GIANTS PAYABLE
				2021	2020
	Grants to the Governors			293,469	374,123
10,	SUPPORT COSTS
				Governance
			Management	costs	Totals
	Grants to the Govern. ors School development		16,836	19,589 189	36,425 189
			16,836	19,778	7 36 614

						2021	2020
						Grants to the	Total
						Governors	activities
Insurance						760	760
Legal k	professional	fees				16,076	20,248
Repairs to property							110
						16,836	21,118
Governance costs
						2021	2020
			Grants	l.o
			the		School	Total	Total
			Governors		development	activities	activities
Auditors'	remuneration		5,160			5,160	4,900
Executive	officer		7,800			7,800	7,800
Trustees Trustees	meetings expenses		6,629		189	6,629 189	8,804
			19,589		189	19,778	~21 504

						2021	2020
Wages and salaries						97,190	147,525
Social security	costs					1,063	5,218
Other pension	costs					~1203	1,893
						~99 456	154,636
The average monthly		number ofemployees		during	the year was as follows:
						2021	2020
KES Trustees	I.td						25
							25
No employees	received emoluments		in cxccss of660,000.

			Unrestricted	Restricted	Endowment	Total	funds
			fund	fund	fund
INCOMF. AND
ENDO WMNENTS		IIROM
Donations and legacies			653,004	105			653,109
Trading subsidiary			261,237				261,237
Investment income			22,644				22,644
Total			936,886	105			936,991
EXPENDITURE	ON
Raising funds			49,807				49,807
Charitable activities
Grants to the Governors			416,745			4l 6,745
Guild Hall Project				47,402			47,402
School dcvclopment			144,797				144,797
Trading activities
Trading subsidiary	expenses		320,051			320,051
Total			931,400	47,402		978,802
Net gains/(losses)	on	investments	(83,054)		120,000		36,946
NE'1' INCOME			(77,568)	(47,297)	]20,000		(4,865)
RECONCILIATION		OF
FUNDS
Total funds brought		forward	3,955,905	1,407,948	4,554,270	9,918,123
TOTAL FUNDS CARRIED FORWARD			3,878 337	1,.160 651	4 674 270	9913258

14A.	INTANGIBLE FIXEDASSETS CONSOLIDATFD
		Patent and
		branding
		costs
	COST
	At l April 2020 And 31 March 2021	124557
	AMORTISATION
	At 1 April 2020 Charge for year	110,827 1,708
	At 31March 2021	112535
	NET BOOK VALUE
	At 31March 2021	12,022
	At 31March 2020	13,730
14B.	INTANGIBI.E133EDASSETS CHARITY
		Branding
		costs
	COST At i April 2020 and 31 March 2021	107483
	AMORTISATION
	At 1 April 2020 and 3 I March 2021	107483
	NET BOOK VALI.lE
	At 3 I March 2021
	At 31 March 2020

15A.	TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS
	CONSOLmATED
		I,and 8c	Plant	8z	Fixtures &	Website	Office
		buildings	machinery		fittings	development	eqillpmellt	Totais
	COST
	Al I April 2020
	and 31 Match 2021	11482 626	8428		202 866	14022	8453	11 716395
	DEPRECIATION
	At I April 2020 Charge fnr year	2,064,463 127533	8,054 374		84,287 20 280	14,022	8,139 270	2,178,965 1.48,457
	At 3 I March 202I	2 191996	~8428		104,567	14022	8409	2,327,420
	NET BOOK VALUE
	At 31March 2021	~~					44	~sa9~5
	At 31 March 2020	94l8 163	374		~11857		314	~97430
5B.	TANGIBLE FIXEDASSETS CHARITY
						Fixtures
					Land 8r	and	Office
					buildings	fittings	equipment	Totals
	COST
	At I April 2020
	and 31March 2021				11482 626	200 488	7379	11690493
	DEPRECIATION
	At I April 2020 Charge for year				2,064,463 127,532	82,366 20,050	7,379	2,154,208 147,582
	At 31March 202l				2191,995	102,416	7379	2,301,790
	NET BOOK VALUE
	At 31 March 202l				9,290,631	98,072		9,388,703
	At 31March 2020				9,4 I8,163	118,122		9,536,285


KESTrustccs	Limited (Company	Nlumber: 08667322)
			2021	2020
Turnover			1,270	195,451
Cost ofsales			~1113	t440779955
Gross Profit			157	154,656
Administrative	expenses		(163,416)	(224,857)
Other operating	income		146,204	800
Net. profiu'(loss)			(17,055)	(69,40])
The aggregate	ofthe assets, liabilities	and funds was:
Assets			28,684	32,491
Liabilities			~490 675	t4477 442777
Net assets			(461,991)	(444,936)
Share capital			3	3
Retained earnings			~461 994	~444 939
			(461,991)	(444,936)


	KES (Shakespeare's	School) Intern	ational	Limited (Company	Number:	10861284)
							2021	2020
	Turnover							64,986
	Administrative expenses					(3,042)		(54,399)
	Net profi t/(loss)					(3,042)		10,587
	The aggregate nf the assets, liabilities		and funds was:
	Assets					12,022		13,730
	Liabilities					~37 606		~36272
	Net assets					(25,584)		(22,542)
	Share capital						I	I
	Retained earnings					~25	585	~22 543
						(25,584)		(22,542)
17.	RESIDENTIAL PROPERTY
	FAIR VALUE
	At I April 2020
	and 31March 2021							845 000
	NET BOOK VALUE
	At 3 I March 2021							845,000
	At 31 March 2020							845,000

	2021	2020
Other debtors	17,712	26,564
Trade debtors		1,515
Prcpayments	5,663	6,227
VAT	2,560
	25,935	34,306

DEBTO	RS:AMOUNTS	FALLING DUF..WITHIN ONE YEAR CHARITY
			2021	2020
Amounts	falling due within	one year:
Other debtors			17,712	26,564
Prepaymcnts			3,622	3,872
			21334	30,436
Amounts	falling due after more than one year:
Amounts	owed by group undertakings		37,306	404,102
Aggregate	amounts		58,640	434,538
CURRE4NT ASSETINVESTMENTS CONSOLIDATED k CHARITY
			2021	2020
Listed investments			940,136	425,206

			2021	2020
Bank loans and overdrafts		(see note 22)	152,146	123,739
Trade creditors			2,764	9,928
Other creditors			33,735
Social security and other		taxes	1,764	3,226
Accruals and deferred	income		64 535	8,381
			255,244	145,274

		2021	2020
Bank loans and ovcrdrafts	(see note 22)	152,146	123,739
Trade creditors		996	6,487
Other creditors		33,735
Accrued expenses		5 631	5„450
		192500	135,676

21.	CREDITORS: AMOUNTS	CREDITORS: AMOUNTS	FALLING DUE AFTER MORE THAN ONE YEAR	FALLING DUE AFTER MORE THAN ONE YEAR
				2021	2020
	Bank loans (see note 22)			1,183 485	1,072,845
22.	LOANS
	An analysis ofthe maturity	nf loans is given below:
				2021	2020
	Amounts falling due within	one year on demand:
	Bank loans			152146	123,739
	Amounts falling between one		and	two years:
	Bank loans - 1-2years			164,756	123,427
	Amounts falling due between		t.wo	tnd five years:
	Bank loans - 2-5 years			510,508	386,344
	Amounts fal1ing due in more	than		five years:
	Repayable by instahnents:
	Bank loans more 5 yr by instal			508,221	563,074

MOVEMENT IN I'UNDS CO	NSOLIDAT	ED
					Net
					movement in
				At,1.4.20	funds	At 31.3.21
Unrestricted funds
General fund				3,878,337	(5,352)	3,872,985
Restricted funds
Restricted I'unds				1,360,651	(17,498)	1,343,153
Fndowment funds
Endowment Fund				4,674,270		4,674,270
TOTAL FUNDS				9913,258	(22,850)	9,890,408
Net movement in funds, included	in the above are as		follows:
		Incoming		Resources	Gains and	Movement
		resources		expended	losses	in funds
Unrestricted funds
General fund		468,087		(672,021)	198,582	(59352)
Restricted funds
Restricted Funds			52,314	(69,812)		(17,498)
Endowment funds
Endowment Fund
TOTAL FUNDS		520 401		(74(,833)	198,582	(22,S50)
Comparatives for consolidated	movemeni,	in funds
					Net
					movement in
				At 1.4.19	funds	At 31.3.20
Unrestricted funds
General fund				3,955,905	(77,568)	3,878,337
Restricted funds
Restricted Funds				1,407,948	(47,297)	1,360,651
E(ndowmcnt funds
Endowment Fund				4,554,270	120,000	4,674,270
TOTAL FUNDS				99]8,123	(4 S65)	9913258

			2021	2020
INCOME AND ENDOWMENTS
Donations and legacies
Donations			161	534
Grants			346 062	652,575
			346,223	653,109
Investment income
Ren ts receivablc			1,200	5,760
income fiom listed	investments		25,438	16,876
Deposit accoun t interest			6	8
			26,644	22,644
Other income
Sundry income			60
Trading income
Ticket sales				150,517
Retail &guidebook		sales	1,270	43,442
Guildhall bookings	&film income			1,492
Sundry receipts				800
Patent income				50,000
Recharged expenses				14,986
Government grants			146,204
			147,474	261,237
Total incoming resources			520,401	936,991
EXPENDITURE
Raising donations	and legacies
Maintenance of school property			66)477	49,678
Costs ofobtaining	grants		170	129
			66,647	49,807
Cliaritable activities
Advertising			280
Schnnl develnpment		costs	8,471	7,877
Depn ofland & buildings			127,532	133,856
Dcpn offixtures and		fittings	20,050	20,049
Bank charges and Joan interest			21,199	30,417
Grant payments and		related costs	293 469	374,123
			471,001	566,322

			2021	2020
Trading activities
Cost ofsales			1,113	40,795
Adnunistration expenses			163,081	270,802
Depreciation and amoitisation			2,582	5,398
Finance costs			795	3,056
			167,571	320,051
Support costs
Management
Insurance Iwgai 2professional	fees		760 16,076	760 20,248
Repairs to property				110
			16,836	21,118
Governance costs
Auditors' remuneratinn			5,160	4,900
Executi ve officer			7,800	7,800
Trustees meetings			6,629	8,804
Trustees expenses			189
			19778	2l,504
Total resources expended			741,833	978,802
Net inconie before gains and
(losses)			(221,432)	(41,811)
Realised recognised gains and losses
Realised gain / (losses)	nn current asset investments		198,582	(83,054)
Realised gain / (losses)	on investment	property		120,000
Nct income / (expenditure)			(22,850)	~6,865)