## ## ## |||||Page| |---|---|---|---|---| |Reference and administrative||details ofthe Charity,|its Trustees and advisers|| |Trustees'
report||||2-5| |Independent
auditors'|report|on the financial statements||| |Statement offinancial|activities|||10| |Balance sheet||||| |Statement ofcash flows||||12| |Notes to the financial|statements|||13-26| ## |REFERENCE AND ADMINISTRATIVE|REFERENCE AND ADMINISTRATIVE|DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS|DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS|DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS| |---|---|---|---|---| ||FOR THE YEAR ENDED|||31AUGUST 2021| |Trustees|Stuart Baran|||| ||Dennis Barnett|||| ||Matthew Canale-Parola|||| ||Janet Eastwood|||| ||Jeffery Glenn|||| ||Peter Kent|||| ||Simon Lau (appointed||22 September 2021)|| ||Kevin Mahon|||| ||Carol Moor|||| ||Justin Muston|||| ||Kalonga Musukuma||(appointed|1 September 2020)| ||Sue Peach|||| ||Rebecca Rees|||| ||Balvinder Singh|(resigned 9November 2020)||| ||Gwen Temple (resigned 21 September 2021)|||| ||Paula Whitfield|||| |Charity registered||||| |number|528770|||| |Principal Address|Lawrence Sheriff School|||| ||Clifton Road|||| ||Rugby|||| ||Warwickshire|||| ||CV21 3AG|||| |Clerk to Trustees|Gillian Beardshaw|||| |Auditors|Crowe U.K. LLP|||| ||Black Country House|||| ||Rounds Green Road|||| ||Oldbury|||| ||West Midlands|||| ||B692DG|||| |Bankers|Barclays Bank PLC|||| ||11 North Street|||| ||Rugby|||| ||Warwickshire|||| ||CV21 2AN|||| |Solicitors|Browne Jacobson LLP|||| ||Mowbray House|||| ||Castle Meadow|Road||| ||Nottingham|||| ||NG2 1BJ|||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||Unrestricted|Restricted|Endowment|Total|To/a/| |---|---|---|---|---|---|---|---|---|---| ||||||funds|funds|funds|funds|funds| |||||Note|2021f|2021
E|2021
E|2021|2020| |Income and|||||||||| |endowments||from:|||||||| |Donations
and||legacies|||667,191|||667,191|797,287| |Investments|||||367|350||717|1,240| |Total income||and|||||||| |endowments|||||667,558|350||667,908|798,527| |Expenditure|on:||||||||| |Charitable
activities|||||548,109||222,267|770,376|870,148| |Total expenditure|||||548,109||222,267|770,376|870,148| |Net|||||||||| |income/(expenditure)|||||||||| |before net|||||||||| |(losses)/gains||on|||||||| |investments|||||119,449|350|(222,267)|(102,468)|(71,621)| |Net (losses)/gains|||on||||||| |investments|||||(2,043)|1,298||(745)|(1,324)| |Net|||||||||| |income/(expenditure)|||||117,406|1,648|(222,267)|(103,213)|(72,945)| |Transfers
between|||||||||| |funds||||13|(133,080)|(350)|133,430||| |Net movement||in|||||||| |funds|||||(15,674)|1,298|(88,837)|(103,213)|(72,945)| |Reconciliation||of|||||||| |funds:|||||||||| |Total funds brought|||||||||| |forward|||||649,401|6,592|8,563,461|9,219,454|9,292,399| |Net movement||in funds|||(15,674)|1,298|(88,837)|(103,213)|(72,945)| |Total funds carried|||||||||| |forward|||||633,727|7,890|8,474,624|9,116,241|9,219,454| ## ## ||||||2021||2020| |---|---|---|---|---|---|---|---| ||||Note||||| |Fixed assets|||||||| |Tangible assets|||||10,519,131||10,741,398| |Investments|||||15,505||16,251| ||||||10,534,636||10,757,649| |Current assets|||||||| |Debtors||||167,191||276,423|| |Cash at bank and in hand||||503,982||404,889|| |||||671,173||681,312|| |Creditors: amounts|falling|due within one|||||| |year||||(185,496)||(174,578)|| |Net current assets|||||485,677||506,734| |Total assets less current||liabilities|||11,020,313||11,264,383| |Creditors: amounts|falling|due after more|||||| |than one year|||12||(1,904,072)||(2,044,929)| |Total net assets|||||9,116,241||9,219,454| |Charity funds|||||||| |Endowment
funds|||13||8,474,624||8,563„461| |Restricted funds|||13||7,890||6,592| |Unrestricted
funds|||13||633,727||649,401| |Total funds|||||9,116,241||9,219,454| ## ## ||||2021|2020| |---|---|---|---|---| |Cash flows from operating|activities|||| |Net cash used
in operating|activities||324,615|202,977| |Cash flows from investing|activities|||| |Dividends,
interests and rents from investments|||717|1,240| |Net cash provided
by investing
activities|||717|1,240| |Cash flows from financing|activities|||| |Repayments
of borrowing|||(133,430)|(124,809)| |Interest paid|||(92,809)|(103,557)| |Net cash used in financing|activities||(226,239)|(228,366)| |Change
in cash and cash|equivalents
in|the year|99,093|(24,149)| |Cash and cash equivalents|at the beginning|ofthe year|404,889|429,038| |Cash and cash equivalents|at the end of|the year|503,982|404,889| |The notes on pages 13to 26 form part ofthese financial statements||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Total| |---|---|---|---|---|---| |||||funds|funds| |||||2021|2021f| |Rugby|Lower|School|donations|667,191|667,191| ## ## ## |||||Unrestricted|Total| |---|---|---|---|---|---| |||||funds|funds| |||||2020|2020| |Rugby|Lower|School|donations|797,287|797,287| ## |||Unrestricted|Restricted|Total| |---|---|---|---|---| |||funds|funds|funds| |||2021|2021f|2021| |Investment|income - prize fund||350|350| |Other interest received||367||367| |||367|350|717| |||Unrestricted|Restricted|Total| |||funds|funds|funds| |||2020|2020|2020| |Investment|income - prize fund||415|415| |Other interest received||825||825| |||825|415|1,240| ## ## ## ||Unrestricted|Endowment|Total| |---|---|---|---| ||funds|funds|funds| ||2021|2021|2021f| |Insurance|69,634||69,634| |Rugby Bid Levy|3,606||3,606| |School budget allowance|281,545||281,545| |Prizes|1,819||1,819| |Professional fees|23,696||23,696| |Capital projects|75,000||75,000| |Finance charges|92,809||92,809| |Depreciation||222,267|222,267| ||548,109|222,267|770,376| ## ## ||Unrestricted|Endowment|Total| |---|---|---|---| ||funds|funds|funds| ||2020|2020|2020| |Insurance|64,482||64,482| |Rugby Bid Levy|9,180||9,180| |School budget allowance|370,845||370,845| |Prizes|2,299||2,299| |Professional fees|5,195||5,195| |Capital projects|92,323||92,323| |Finance charges|103,557||103,557| |Depreciation||222,267|222,267| ||647,881|222,267|870,148| ## |Net inco|me|/(expenditure|)|||| |---|---|---|---|---|---|---| ||||||2021f|2020| |Auditor's|remuneration||-statutory|audit|3,300|3,200| |Depreciation||oftangible|fixed assets:|||| |-owned|by|the Charity|||222,267|222,267| ## ## ## ||Listed| |---|---| ||investments| |Cost or valuation|| |At 1 September 2020|16,251| |Revaluations|(746)| |At 31 August 2021|15,505| ## ## ## ## |Material Inve|stme|nts|||||| |---|---|---|---|---|---|---|---| |||||||2021|2020| |f515 Equities|Investment||Fund for Charities||Income Units|7,890|6,591| |f577.30 Charities||Official|Investment|Income|Shares|7,615|9,660| |||||||15,505|16,251| ## ||2021|2020| |---|---|---| |Due within one year||| |Accrued income from Rugby Lower School|167,191|276,423| ||167,191|276,423| ## ## ## ## ||||2021|2020| |---|---|---|---|---| |Bank loans|||140,435|133,008| |Amounts|owed to Lawrence Sheriff School Academy Trust||321|320| |Accruals|and deferred|income|44,740|4'/, 250| ||||185,496|174,578| ## ## |2021|2020| |---|---| |1,904,072|2,044,929| |Between two and five years||| |---|---|---| |Bank loans|550,160|543,139| |Over five years||| |Bank loans|1,353,912|1,501,790| ## ## ## |Statement|offunds|offunds||||||| |---|---|---|---|---|---|---|---|---| |Statement|offunds||- current year|||||| |||Balance at 1||||||Balance at| |||September||||Transfers|Gains/|31August| ||||2020|Income|Expenditure|inlout
f|(Losses)|2021
f| |Unrestricted||||||||| |funds||||||||| |Unrestricted||||||||| |general funds|||649,401|667,558|(548,109)|(133,080)|(2,043)|633,727| |Endowment||||||||| |funds||||||||| |Permanent||||||||| |endowment|fund|8,563,461|||(222,267)|133,430||8,474,624| |Restricted||||||||| |funds||||||||| |Prize fund|||6,592|350||(350)|1,298|7,890| |Total offunds||9,219,454||667,908|(770,376)||(745)|9,116,241| ## ## ## |Statement|offun|ds - prior year|||||| |---|---|---|---|---|---|---|---| |||Balance at|||||Balance at| |||1September|||Transfers|Gainsi|31August| |||2019|Income|Expenditure|inlout|(Losses)|2020| |||||||E.|| |Unrestricted|||||||| |funds|||||||| |Unrestricted|||||||| |general funds||623,299|798,112|(647,881)|(124,394)|265|649,401| |Endowment|||||||| |funds|||||||| |Permanent|||||||| |endowment|fund|8,660,919||(222,267)|124,809||8,563,461| |Restricted|||||||| |funds|||||||| |Prize fund||8,181|415||(415)|(1,589)|6,592| |Total offunds||9,292,399|798,527|(870,148)||(1,324)|9,219,454| |Analysis ofnet assets between funds -|current year|||| |---|---|---|---|---| ||Unrestricted|Restricted|Endowment|Total| ||funds|funds|funds|funds| ||2021|2021|2021f|2021| |Tangible fixed assets|||10,519,131|10,519,131| |Fixed asset investments|7,615|7,890||15,505| |Current assets|671,173|||671,173| |Creditors due within one year|(45,061)||(140,435)|(185,496)| |Creditors due in more than one year|||(1,904,072)|(1,904,072)| |Total|633,727|7,890|8,474,624|9,116,241| ## ## ## |Analysis of net assets between funds (c
Analysis ofnet assets between funds -|ontinued)
prior year|||| |---|---|---|---|---| ||Unrestricted|Restricted|Endowment|Total| ||funds|funds|funds|funds| ||2020|2020|2020|2020| |Tangible fixed assets|||10,741,398|10,741,398| |Fixed asset investments|9,659|6,592||16,251| |Current assets|681,312|||681,312| |Creditors due within one year|(41,570)||(133,008)|(174,578)| |Creditors due in more than one year|||(2,044,929)|(2,044,929)| |Total|649,401|6,592|8,563,46'l|9,219,454| ## |15.|Reconciliation
of|net movement|in funds to|net cash fl|ow from operati|ng
activities|| |---|---|---|---|---|---|---|---| |||||||2021|2020| ||Net expenditure
for|the year (as per Statement||of Financial|Activities)|(103,213)|(72,945)| ||Adjustments
for:||||||| ||Depreciation
charges|||||222,267|222,267| ||Loss on investments|||||745|1,324| ||Dividends,
interests|and rents from|investments|||(717)|(1,240)| ||Interest payable|||||92,809|103,557| ||Decrease/(increase)|in debtors||||109,233|(49,672)| ||Increase/(decrease)|in creditors||||3,491|(314)| ||Net cash provided|by operating|activities|||324,615|202,977| |16.|Analysis ofcash and cash equivalents||||||| |||||||2021f|2020| ||Cash in hand|||||503,982|404,889| ||Total cash and cash equivalents|||||503,982|404,889| ## ## ||||At 1||Other non-|| |---|---|---|---|---|---|---| ||||September||cash|At 31| ||||2020|Cash flows|changes|August 2021| |Cash|at bank and|in hand|404,889|99,093||503,982| |Debt|due within
1|year|(133,008)|133,430|(140,857)|(140,435)| |Debt|due after 1 year||(2,044,929)||140,857|(1,904,072)| ||||(1,773,048)|232,523||(1,540,525)| ##