2023-08-31-accounts

Contents
			Pages
Governors and General		Information
Strategic Report			2 —6
Governors'	Report		7 —6
Independent	Auditor's	Report	9 —12
Consolidated	Statement	ofFinancial Activities	13
Consolidated	Balance	Sheet	14
Company Balance Sheet			15
Consolidated	Statement ofCash Flows		16
Notes to the	Consolidated Financial Statements		17—31

Governors:	Governors:			J A Barrett (President)	J A Barrett (President)
				Mrs L E Flowith	(Chairman)
				J R Brain ACA
				Mrs P A Mayall
				A I Hazel
				Mrs SDWatson
				A BDavison
Head:				Dr R Luker PhD	MA BA (Hone) PGCE (Resigned 31 August 2023)
				Mrs SCassell BA (Hons) PGCE (Acting Head from				1 September 2023)
Educational		establishments:		Highclare Preparatory		School: Woodfield
				Pre-Preparatory	and Preparatory
				241 Birmingham	Road
				Wylde Green
				Sutton Coldfield
				West Midlands
				B72 1EA
				Highclare Preparatory		School; St.Paul's
				Pre-Preparatory	and Preparatory
				88 Lichfield Road
				Sutton Coldfield
				West Midlands
				B71 2SY
				Highclare: The Abbey
				Senior School and Sixth Form
				10Sutton Road
				Erdington
				Birmingham
				B236QL
Registered		office:		241 Birmingham	Road
				Wylde Green
				Sutton Coldfield
				West Midlands
				B72 1EA
Bankers:				HSBC Bank Pic
				The Bridge
				Walsall
				WS1 1LN
Auditors:				Malcolm Piper 8	Company		Limited
				Kingsnorth House
				Blenheim Way
				Kingstan ding
				Birmingham
				B448LS
Senior management			personnel:	Dr R Luker (Resigned		31 August 2023)
				Mrs S Cassell
				Mrs P Bennett
				Mrs M P A McGoldrick
				Mr M Coles
				Mrs J Griffiths
				Mrs H Good
Charity number:				528940
Company	number:			1074596
				Page 1

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2023	2023	2023	2022
	Note	K	6	K	K
Income from:
Charitable activities
School fees receivable		6,642,916		6,642,916	6,255,310
Registration fees		11,987		11,987	11,045
School activities &trips		150,000		150,000	63,828
Investments
Rents and lettings		8,250		8,250	8,250
Other
Other income		314,129		314,129	279,773
Total income		7,127,282		7,127,282	6,618,206
Resources expended
Expenditure on:
Charitable activities
School operating costs	5	(6,666,482)	(30)	(6,666,512)	(6,455,222)
School activities and trips		(150,000)		(150,000)	(63,828)
Governance costs	6	(11,150)		(11,150)	(11,640)
School finance costs		(36,422)		(36,422)	(13,336)
Exceptional Expenditure	10	(157,102)		(157,102)
Total expenditure	11	(7,021,156)	(30)	(7,021,186)	(6,544,026)
Net Income		106,126	(30)	106,096	74,180
Transfers between funds	20
Net movement in funds for
year		106,126	(30)	106,096	74,180
Total funds brought forward
at 1 September 2022		4,760,959	664	4,761,623	4,687,443
Total funds carried
forward at 31August 2023		4,867,085	634	4,867,719	4,761,623

Consolidated	B	alanc	e Sheet at 31 August 2	023 (Registr	ation number	1074596)
				Note	2023	2022
					6	R
Fixed assets
Tangible assets				12	5,039,149	4,941,749
					5,039,149	4,941,749
Current assets
Debtors				14	140,119	161,142
Cash at bank and	in	hand			2,163,526	2,354,712
					2,303,645	2,515,854
Creditors: Amounts		falling	due within one year	15	(1,920,400)	(2,055,408)
Net current assets					383,245	460,446
Total assets less	current		liabilities		5,422,394	5,402,195
Creditors: Amounts		falling	due more than one year	16	(554,675)	(640,572)
Total net assets					4,867,719	4,761,623
Charity Funds
Restricted Funds				19	634	664
Unrestricted Funds
General unrestricted		funds		19	4,515,609	4,409,483
Revaluation reserves				19	351,476	351,476
					4,867,719	4,761,623

		Note	2023	2022
			6	6
Fixed assets
Tangible assets		12	3,015,796	2,918,399
Investment		13	950,000	950,000
			3,965,796	3,868,399
Current assets
Debtors		14	2,345,418	2,366,441
Cash at bank and in	hand		2,163,520	2,354,694
			4,508,938	4,721,135
Creditors: Amounts	falling due within one year	15	(1,920,400)	(2,055,408)
Net current assets			2,588,538	2,665,727
Total assets less current liabilities			6,554,334	6,534,126
Creditors: Amounts more than one year	falling due after	16	(554,675)	~646,572
Total net assets			5,999,659	5,893,554
Charity Funds
Restricted Funds		19		664
Unrestdcted Funds
General unrestricted	funds	19	5,914,995	5,808,860
Revaluation reserves		19	84,030	84,030
			5,999,659	5,893,554

Consolidated Cas	h	Flow Statement for t	he Year En	ded 31 August	2023
			Note
				2023	2022
					6
Net cash inflow from operating activities			21	179,197	415,556
Cash flow from investing	activities
Payments to acquire tangible		fixed assets		(256,732)	(241,713)
Receipts from sale of tangible		fixed assets		422	1,680
Rents received from investment properties				8,250	8,250
Net cash flow from investing		activities		(248,063)	(231,783)
Cash flow from financing	activities
Repayment ofloans				(85,898)	(85,899)
Loan interest paid				(36,422)	(13,336)
Net cash flow from financing		activities		(122,320)	(99,235)
Net (decrease) increase in	cash and cash			(191,186)	84,538
equivalents
Cash and cash equivalents		at 1 September 2022		2,354,712	2,270,174
Cash and cash equivalents		at 31August 2023		2,163,526	2,354,712
Cash and cash equivalents		consist of:
Cash at bank and in hand				2,163,526	2,354,712

write each		asset dow	n to its estimated re	sidual value evenly over its expe	cted us	eful
Freehold		properties		up to 50 years straight	line
Leasehold		improvements		up to 50 years straight	line
Fixtures,	fittings and		equipment	between 2 and 5years	straight	line
Computer		equipment	(teaching)	a maximum of4 years	straight	line
Motor vehicles				a maximum of5years	straight	line
Investment		properties		not depreciated

					2023	2022
					6
Other Income					314,129	279,773
Other Income is attributable		to unrestricted funds.
School Operating	Costs
			Unrestricted	Restncted
			funds	funds	Total	Total
			2023	2023	2023	2022
			6	6	6	6
Salaries			4,469,297		4,469,297	4,132,083
Teaching materials			232,449		232,449	145,327
Kitchen expenses			507,945		507,945	432,389
Rent, rates and insurance			111,660		111,660	94,863
Heat and light			220,532		220,532	225,808
Cleaning			207,515		207,515	286,282
Training			14,841		14,841	13,652
Repairs and maintenance			244,590		244,590	433,914
Motor and transport			43,164		43,164	51,945
School activities and trips			150,000		150,000	63,828
Depreciation:
Fixtures, vehicles	and equipment		117,154		117,154	130,840
Freehold buildings			42,134		42,134	56,717
Amortisation of goodwill						11,530
Profit on disposal offixed		assets	(375)		(375)	(1,680)
Support costs:
Printing and stationery			199,821		199,821	192,845
Advertising			19,356		19,356	34,655
Sundry expenses			106,903	30	106,933	60,529
Professional charges			102,676		102,676	125,758
Bank charges			74,392		74,392	52,741
			6,864,054	30	6,864,084	6,544,026

				Unrestricted	Restricted
				funds	funds	Total	Total
				2023f	2023f	2023f	2022
Auditors'	remuneration	(note	10)	11,150		11,150	11,640

			2023	2022f
Bank	loan	Interest	36,422	13,336

These are as follows:						,
							2023 f	2022 f
Legal and professional	fees in respect		of various		planning	related
work							157,102
Total Resources Expended
							2023f	2022f
Total resources expended		on charitable	activities		includes:
Depreciation oftangible	fixed assets						159,288	187,557
Amortisation of intangible		fixed assets
- purchased goodwill								11,530
Surplus on disposal of	tangible fixed assets						(375)	(1,680)
Auditor's remuneration	in	respect of non-audit		services			7,524	9,378
Governance costs includes:							2023f	2022f
Auditors' remuneration	in	respect ofaudit services
- for audit services							11,150	11,640
- for other services							7,524	9,378
							18,674	21,018

gible Fixed Assets
			Fixtures,
			fittings,
	Investment	Freehold	vehicles &
	properties	properties	equipment	Total
Group
Cost or valuation
At 1 September 2022	219,162	6,049,230	2,529,638	8,798,030
Additions		101,250	155,482	256,732
Disposals			(836,482)	(836,482)
At 31 August 2023	219,162	6,150,480	1,848,638	8,218,280
Depreciation
At 1 September 2022		1,645,089	2,211,192	3,856,281
Charged in the year		42,134	117,154	159,288
Elimination on
disposals			(836,435)	(836,435)
		1,687,220	1,491,911	3,179,131
At 31 August 2023
Net Book Value
At 31 August 2023	219,162	4,463,260	356,727	5,039,149
At 31 August 2022	219,162	4,404,141	318,446	4,941,749
Company
Cost or valuation
At 1 September 2022	219,162	2,921,295	2,529,638	5,670,095
Additions		101,250	155,482	256,732
Disposals			(836,482)	(836,482)
	219,162	3,022,545	1,848,638	5,090,345
At 31 August 2023
Depreciation
At 1 September 2022		540,504	2,211,192	2,751,696
Charged in the year		42,134	117,154	159,288
Elimination on			(836,435)	(836,435)
disposals
		582,638	1,491,911	2,074,549
At 31 August 2023
Net Book Value
At 31 August 2023	219,162	2,439,907	356,727	3,015,796
At 31 August 2022	219,162	2,380,791	318,446	2,918,399

	of both subsid	iar	ies	is	property	owner	ship and man	agement and both	are incorporated	in England.
							Highclare	Investments
							Limited		Highclare	Limited
							2023	2022	2023	2022
								E	E	E
	Summary	profit			and	loss
	account
	Turnover
	Administrative		expenses					(4,756)		(5,999)
	Net loss forthe year				and
	Retained in	the subsidiary						(4,756)		(5999)
	The assets	and		liabilities		of the
	subsidiaries	were:
	Fixed assets						2,048,350	2,048,350	875,000	875,000
	Current assets						2	2	3	3
	Creditors:	Amounts			falling	due
	within one year						(1,331,811)	(1,331,811)	(873,488)	(873,488)
	Total net assets						716,541	716,541	1,515	1,515
	Aggregate share			capital and
	reserves						716,541	716,541	1,515	1,515
14.	Debtors
							Group		Company
							2023	2022	2023	2022
							E	E	E	E
	Due within one		year:
	Outstanding	fees					13		13
	Amounts owed		by	subsidiary
	undertakings								2,205,351	2,205,299
	Other debtors						58,182	93,551	58,130	93,551
	Prepayments						81,924	67,587	81,924	67,587
							140,119	161,142	2,345,418	2,366,441

		Group		Company	Company
		2023	2022	2023	2022
		6		6	F
Bankloans		85,899	85,899	85,899	85,899
Trade creditors		288,870	181,262	288,870	181,262
Fees in advance		845,638	759,098	845,638	759,098
Other taxation and	social security	72,985	67,269	72,985	67,269
Other creditors		383,466	396,895	383,466	396,895
Accruals		242,066	560,496	242,066	560,496
Friends of Highclare	School Fund	1,476	4,489	1,476	4,489
		1,920,400	2,055,408	1,920,400	2,055,408

Creditors:	Amounts falling due	after more than one	year
		Group		Company
		2023	2022	2023	2022
		6
Bank loans		554,675	640,572	554,675	640,572
Maturity of borrowings
		Group		Company
		2023	2022	2023	2022
Bank loans			6	6
Amounts	fall due on the bank loans as follows:
Within one year		85,899	85,899	85,899	85,899
Between	one and two years	85,899	85,899	85,899	85,899
Between	two and five years	257,697	257,697	257,697	257,697
Over five	years	211,078	296,976	211,078	296,976
		640,573	726,471	640,573	726,471

						Group	Group	Group			Company	Company
						2023		2022			2023		2022
						6							6
Other
Within one	year					51,088		48,088		51,088			48,088
Between one and five years						154,242		182,330		154,242			182,330
Over five years						165,000		128,000		165,000			128,000
						370,330		358,418		370,330			358,418
Included in	the	operating			leases	disclosure above		is a twenty-five	year		tenancy	lease with
Birmingham	City	Council		signed on		6 September	2018 over land referred			to	as "Highclare		Sports
Field". Under this		agreement,			there	is a five yearly	rent	review.
Contingent	liabilities
In the event	that	bank	borrowings arise, the Company					has guaranteed	the	bank borrowing			ofthe
other Group	undertakings.
Funds Reconciliation
Group
				As at 1								As at 31
			September			Income		Expenditure	Transfers				August
					2022								2023
					6								6
Restricted	funds				664			(30)					634
Unrestricted	funds		4,409,483			7,127,282		(7,021,186)				4,515,609
Revaluation
reserve				351,476									351,476
Total funds			4,761,623			7,127,282		(7,021,216)				4,867,719
Company
				As at1								As at 31
			September			Income		Expenditure	Transfers				August
					2022								2023
					6								6
Restricted	funds				664			(30)					634
Unrestricted	funds		5,808,860			7,127,282		(7,021,186)				5,914,995
Revaluation
reserve				84,030									84,030
Total funds			5,893,554			7,127,282		(7,021,216)				5,999,659

20.	Analysis ofnet assets between funds
	Group
				Unrestricted	Restricted	Total
				funds	Funds	Funds
				6
	Fund balances at 31August		2023 are
	represented by:
	Tangible fixed assets			5,039,149		5,039,149
	Current assets			2,303,011	634	2,303,645
	Current liabilities			(1,920,400)		(1,920,400)
	Long term liabilities			(554,675)		(554,675)
	Total net assets			4,867,085	634	4,867,719
	Unrealised gains included above on tangible
	fixed assets			351,476		351,476
	Company
				Unrestricted	Restricted	Total
				Funds	Funds	Funds
				6
	Fund balances at 31August		2023are
	represented by:
	Tangible fixed assets			3,015,796		3,015,796
	Investment			950,000		950,000
	Current assets			4,508,304	634	4,508,938
	Current liabilities			(1,920,400)		(1,920,400)
	Long term liabilities			(554,675)		(554,675)
	Total net assets			5,999,025	634	5,999,659
	Unrealised gains included above on tangible
	fixed assets			84,030		84,030
21.	Reconciliation of net	income	to net cash flow	from operating activities
					2023	2022
						8
	Net income for year				106,095	74,180
	Rents received from	Investment properties			(8,250)	(8,250)
	Depreciation oftangible fixed		assets		159,288	187,557
	Surplus on disposal oftangible fixed assets				(375)	(1,680)
	Amortisation ofintangible fixed assets					11,530
	Interest payable				36,422	13,336
	(Increase)/decrease	in debtors			21,023	(76,901)
	(Decrease)/increase	in creditors			(135,007)	215,784
	Net cash flow from operating		activities		179,197	415,556