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|Year Ende|d 31August 2020||
|---|---|---|
|Contents||Pages|
|Report ofthe Charity Trustees (Governors'|Report)|1to23|
|Independent
Auditors'
Report to the Governors||24to 26|
|Statement of Financial Activities||27|
|Balance Sheet||28|
|Cash Flow Statement||29|
|Notes to the Financial Statements||30to 44|
|The Following Pages Do Not Form Part|ofthe Financial Statements||
|Schedule ofSchool Land and Buildings|||
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||AN|D THOSE SERVING|DURING T|HE|FINANCIAL YEAR|FINANCIAL YEAR|
|---|---|---|---|---|---|---|
|Governor||Serving on|Chairman|of|Nominated||
|||Committees:|Committee:||By:||
|Mr JBarfield Moore||(a)|||||
|Rev M Bratton||(c)(g)|||||
|Mr M Faulkner||(a)(b)(c)(e)||||Resigned 17.08.2020|
|Mrs SGuest||(a) (b) (f)|||||
|Mrs H Grewal||(c)(f)|||||
|Mr R Hall
Mr P Healy||(a)(c)(e)
(a) (c)|(a)|||Startde 17.02.2020|
|Mr T Horton||(a)(c)(e)|||||
|MrlJohnson||(b)(d)||||Resigned 31.12.2019|
|Mr CJones||(a) (b)(c)(g)(h)|||||
|Ms D Kendall||(c)|(c)||||
|Mr N Lee||(a)(c)(d)(e)(h)||||Resigned 31.12.2019|
|Dr K McLaughlan
Mrs J McNaneyin||(b)(g)|(g) (h)||||
|Mr P Morrisi'i|||||||
|Mr D Molyneux||(a) (b)||||Start date 17.02.2020|
|Mr A Prestwich||(t)|||||
|Mr R Stuart
Mrs D Wong
Mr PWright||(a)(b)(c)(d)(e)
(b)
(a) (b)(c)(e)(h)|(d)
(e)|||Resigned 27.10.2020
Deceased 06.06.2020|
|Committees
&Sub Committees|||||Nominating|Bodies|
|(a) Finance &General Purposes Committee
(b) Bablake Academic
&Resources Committee
(c) King Henry Vill Academic
&Resources Committee
(d) Bursaries Committee
(e) Estates Committee
(f) Health &Safety at Work Sub-committee
(g) Child Protection
(h) Chairs Committee|||||1 Bablake Parents' Association
2 Church Charities
3Coventry
University
4 General Charities
5 King Henry Vill Parents' Association
6SirThomas White's Charity
7 University
ofWarwick
8 Co-opted||
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||FOUNDATION'S|ADVISERS|ADVISERS||
|---|---|---|---|---|
|Auditors:|Haines Watts Birmingham||LLP||
||5-6 Greenfield
Crescent||||
||Edghasten||||
||Birmingham||||
||B153BE||||
|Bankers:|Lloyds TSBCorporate||||
||125Colmore Row||||
||Birmingham||||
||B33SF||||
|Solicitors:|Band Hatton||||
||25Warwick Road||||
||Coventry||||
||CV1 2EZ||||
|Investments:|Quilter||||
||Provincial
House||||
||37New Walk||||
||Leicester||||
||LE1 6TU||||
|Insurance:|Hettle Andrews
&|Associates||Limited|
||Eleven Brindley Place||||
||2 Brunswick square||||
||Brindley place||||
||Birmingham
B12LP||||
|Support Staff Pensions:|JFE Financial
Planning||||
||St.James's Place|House|||
||Central Boulevard||||
||Blythe Valley Park||||
||Solihull||||
||West Midlands||||
||B90OAR||||
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|||||||Total|Total|
|---|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|Year Ended|Year Ended|
||||Funds|Funds|Funds|31.08.20|31.08.19|
|||uo»|9|2|2|2||
|INCOME AND ENDOWMENTS|FROIN:|||||||
|Donations
and legacies|||635,218|26,474||661,692|881,829|
|Chaiitable
activities|||20,883,134|||20,6833134|2/,BI9,41f|
|Other trading activities|||362,357|||362,357|828,2fI|
|Investment
income|||11,728|61,598|33,910|107,236|230,543|
|Other income|||1,230,972|||1,230,972|454,097|
|Total Income and endowments|||234$|NI82|33ll|3
84|3994|
|EXPENDITURE ON:||||||||
|Raising and management
offunds||||5,728|5,296|11,024|13,042|
|Chaditable
activities|||23,171,410|9,349||23,180,759|22,888,843|
|Total expenditure|||3.
,
9||5,296|23,191,783|22879,885|
|(DEFICIT)l SURPLUS FROM OPERATIONS|||(48,001)|72,995|28,614|53,608|714,206|
|NET GAINS/(LOSSES)
Realised gains/ (losses) on investments
Unrealised
(losses)/ gains on investments||||8,364|8,621
~N99|16,985
~N|(1f7,859)
~8.|
|||||(161,130)|(24,344)|(185,474)|(146,120)|
|NET (EXPENDITURE)/ INCOME|||(48,001)|(88,135)|4,270|(131,866)|568,086|
|Transfers
between
funds||is, ts, ts||||||
|NET MOVEMENT
IN FUNDS|||(48,001)|(88,135)|4,270|(131,866)||
|FUND BALANCES AS AT I SEPTEMBER2019|||18,425,091|2,510,989|3,228,644|24,164,724|23,596,838|
|FUND BALANCES AS AT 31 AUGUST||2020|,os|~SN|32m, N2,||.N4.|
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|||Year|Year|
|---|---|---|---|
|||Ended|Errdefi|
|||31.08.20|31.06.19|
||Note|8||
|CASH FLOW FROM OPERATING ACTIVITIES|17|(486,855)|2,144,282|
|NET CASH OUTFLOW FROM OPERATING ACTIVITIES||~40805
7|.
. 02|
|CASH FLOW FROM INVESTING ACllVITIES||||
|Purchase oftangible
fixed assets
Purchase of investments
Sale of investments
Sale oftangible
fixed assets
NET CASH OUTFLOW FROM INVESTING ACTIVITIES||(25,905)
(2,368,312)
1,353,479
1,000,000
~0|(4,191,314)
(2,522 140)
4,429,762
~7. N. 8|
|NET (DECREASE)l INCREASE IN CASH AND CASH EQUIVALENTS||(527,593)|(139,410)|
|CASH AND CASH EQUIVALENTS AT 1 SEPTEMBER2019||1,960,328|2,099,738|
|CASH AND CASH EQUIVALENTS AT31 AUGUST 2020||43, 00||
|CASH AND CASH EQUIVALENTS CONSISTS OF:||||
||As at|Cash|As at|
||31.08.20|flows|01.09.19|
|||f|2|
|Cash at bank and in hand
Bank overdrafl
and loans||(527,593)|1,960,328|
||1,432735|~527503,900328||
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|Plant and|machinery|4years|
|---|---|---|
|Fixtures,|fittings and equipment|5years|
|Computer|equipment|3years|
|Motor vehicles||4years|
|Buildings||20 - 50years|
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|2|Donations|and legacies|||
|---|---|---|---|---|
||||Yearto|Year lo|
||||31.08.20
2|31.08.19f|
||Donations||636,692|861,829|
||||866666|86686i|
|3|Charitable|activities - Fees Receivable|||
||||Yearto|Year lo|
||||31.08.20|31.08.19|
||||2||
||Fees receivable comprise;||||
||Gross fees
Less:|Bursary awards
Scholarship
awards|23,077,203
(1,926,788)
(267,281)|23,853,373
(1,956,325)
(277,637)|
||||~66661|vo6%|
||The total grants, awards and prizes paid for by trust funds consist of:||||
||Prizes and|leaving awards|||
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||||||Yearto|Year lo|
|---|---|---|---|---|---|---|
||||||31.08.20|31.08.19|
||||||2||
|School shop commission
income
All weather pitch, pavilion, other school facilities|||||10,000
352,357|14,700
613,511|
||||||362,357|828,211|
|Investment|Income||||||
||||||Year to|Year lo|
||||||31.08.20
2|31.08.19f|
|Listed investments
Bank interest|||||95,508
11,728|217,903
12,640|
||||||6, 66|.
6|
|Income from|permanent|endowment|included|in above|33 910|142062|
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|Other Inc|ome||||||||
|---|---|---|---|---|---|---|---|---|
||||||||Total|Total|
||||||||20m
K|20f9f|
|Income from school trips|||||||66,$53|311,832|
|Transport|income||||||99,292|142485|
|Property income|||||||100||
|Production|ticket|sales|||||2,969||
|HMRC furlough||income|||||573,478||
|Surplus on sale offixed assets
Covid -19Grant income|||||||428,781
60,000||
|Analysis ofTotal Expenditure|||||||||
||||||||Total|Total|
|||||Staff costs
2|Other costs
2|Depreciation
2|20m
2|20f9f|
|Raising and management|||offunds||||||
|Investment|management||||11024||11,024|13042|
|Charitable|expenditure:||||||||
|Teaching||||14,465,329|1,556,961||16,022,290|15,837,439|
|Welfare||||84,927|426,978||511,905|414,175|
|Premises||||696,106|'l,670,420|949,975|3,$16,501|3,738,820|
|Svppcn||||1,173,928|669,357|187,276|2,030,561|2 f23,555|
|Grants, awards and prizes|||||||500|700|
|Management|and|administration||498,164|||498,164|399,088|
|Finance and other||costs|||6O0,838||800,838|355088|
|||||16,918,454|5,125,054|1,137,251|23,180,759|22888,843|
|||||16,916454|5136,078|1,137251|23,191,783|22,879885|
|Supportcosts|||||||||
|Staff costs|||||||1,130,483|1,155,617|
|Office costs|||||||174,008|214,314|
|Information|Technology||||||114,833|20,997|
|Recruitment|costs||||||45,084|91,506|
|Travel|||||||7,681|190,938|
|Advertising|snd marketing||||||106,906|136,620|
|Depreciation|||||||187,276|106,400|
|Other costs|||||||171,122|141,030|
|Governance||||||||64,133|
|||||||||2,123,555|
|Governance costs|||||||||
|Staffcosts|||||||43,445|27,418|
|Support costs|||||||49,723|38,715|
||||||||vt. 68||
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|Total resources expended|include:|||
|---|---|---|---|
|||Year to|Year ro|
|||31.08.20
2|3f.08.t9f|
|Auditor's
remuneration:||||
|Audit services
Non-audit
services||20,000
92N9|19,600
29|
|Total staff costs:||||
|Wages and salaries
Social security costs||12,950,565
1,268,717|12,878,483
1,251,576|
|Pension costs||2,533,971|1,853,649|
|Termination
payments||165,201|73,203|
||||.N6.|
|Year to|Year to|
|---|---|
|31.08.20|31.08.19|
##
|Comparatives
for the Statement of Financial Activities|- 31 August 201|9|||
|---|---|---|---|---|
|||||Total|
||Unrestricted|Restricted|Endowment|Year Ended|
||Fundsf|Funds
f|Funds
f|31.08.19
f|
|Note|||||
|INCOME AND ENDOWMENTS FROM:|||||
|Donations
and legacies
Charitable
activities|661,829
21&619,411|||661,829
21,619,411|
|Other trading
activities
Investment
income
Other|628,211
12,640
454,097|75,841|142,062|628,211
230,543
454,097|
|Total income and endowments|88||2|528DS|
|EXPENDITURE ON:|||||
|Raising funds
Charitable
activities|22,851,467|5,665
15,376|7,377|13,042
22,866,843|
|Total expenditure|22851467|||» 838SM|
|Realised (losses) on investments|||||
|Realised gains on investments
Unrealised
gains/(losses)
on investments||(7,843)
3D
23,028|(110,016)
~53 32
(169,148)|(117,859)
~8,2e
(146,120)|
|NET INCOME/(EXPENDITURE)|524,721|77,828|(34,463)|568,086|
|Transfers between
funds
13, 14,15|116,228|55,515|(171,743)||
|NET MOVEMENT
IN FUNDS|640,949|133,343|(206,206)|568,086|
|FUND BALANCES AS AT 1 SEPTEMBER2018|17,784,142|2,377,646|3,434,850|23,596,638|
|FUND BALANCES AS AT31 AUGUST 2019|18425 091|2510989|3228 644|24 164724|
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|Tangible Fixed Assets|||||
|---|---|---|---|---|
||||Fixtures,||
||Freehold|Plant,
machinery|fittings,
computers||
||land and|and|and||
||buildings|vehicles|equipment|Total|
||2|2|2|2|
|Cost or Valuation|||||
|At 1 September 2019|27,508,757|668,268|1,464,044|29,641,069|
|Additions
Disposals
At 31 August 2020|12,465
~766752
2878,|12,803
637
,D5,
,866||25,905
DS,SD|
|Depreclallon|||||
|At 1 September 2019|5,995,578|65'I,356|774,351|7,421,285|
|Charge for the year
Eliminated
on disposal
At 31 August 2020
Net Book Value
At 31 August 2020|949,975
~67,t28
157992
6,778,494
667,348
2D SD65,55
21 513,179
16,912||17'I 284
~887
943,140
8,
6
689,693|12137251
~DII,DDI
8,388,982
2D.56,2
22,219,784|
|Insured|restatement
values||||||
|---|---|---|---|---|---|---|
|Freehold|and long leasehold
properties
owned|by the Foundation
have insured||reinstatement|values as|2020|
|follows:||||||2|
|Bablake|School - Coundon
Road; and playing|fields - Duncroft Avenue||||36,998,599|
|King Henry
Vill School - Warwick Road - and playing fields - Stonebridge|||Highway|||38,640.580|
|King Henry
Vill Preparatory
School - Kenilworth||Road||||5.937,898|
|Bablake|Pre-Preparatory
School (formerly Cheshunt
School) - The Grange|||||5,300,000|
|||||||86,877,077|
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||||||||||Usted|
|---|---|---|---|---|---|---|---|---|---|
||||||||||investmems|
||||||||||2|
||Valuation|||||||||
||At I September 2019||||||||3,311,003|
||Additions||||||||2,368412|
||Dieposals
Unrealised
loss on
At 31 August 2020|||revaluation|||||(1,336,494)
~30
0,300|
||All investments|are||held in the UK. Included|in the above value of investments||is cash of2613,240(2019:2175,797).|||
||If the investments||had not been revalued,||they would|have been included|on the historical|cost basis|at the following|
||amounts:|||||||||
|||||||||Listed||
|||||||||Investments|Total|
|||||||||2|f|
||Cost
At 31 August
At 31 August|2020
2019||||||,00383, 00.303
0.090,9,||
|11|Debtors|||||||||
|||||||||2020
2|2019f|
||Fees
Prepayments|and accrued income||||||327,186
78,589
42,885
212024
550,030||
|12|Creditors: Amounts|||Falling Due Within One Year||||||
|||||||||2020f|2019f|
||Fees received|in advance||||||1,295,579|f,656915|
||Trade creditors|||||||29,750|827879|
||Taxation and social
Other creditors and||
|security
accruals||||312,814
845,090|318,672
977,834|
|||||||||008 m|.
.3|
||Fees received|in advance||||||2020
2|2019f|
||Fees received
in advance at 1 September 2019
Released from previous
years
Deferred
in the year
Fees received
in advance at 31 August 2020|||||||1,656,915
(1.656,915)
1,295,579
, 05.030|f,663,551
ff,663,ssg
1,656,915
.05|
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||||||permanent||
|---|---|---|---|---|---|---|
||||Trust for|Unapplied|Endowment|Endowment|
||||Investment|Total Return|Total|Replacement|
||||2|2|2|2|
|At 1 September|2019:||||||
|Gift component|ofthe permanent|endowment|2,822,407||2,822,407||
|Unapplied
total|return|||406,237|406,237||
|Total|||2,822,407|406,237|3,228,644||
|Movements
in the year:
Investment
return
- net gains
Losses on investments
Transfer to Endowment
Replacement
Total|||(1,000,000)|28,614
(24,344)
4,270|28,614
(24,344)
0,j,000.
(995,730)
1,000,000||
|Annual
replacement
transfer|||||||
|Unapplied
total|return allocated|to income|||||
|in the reporting|period||||||
|Net movements|in the year||(1,000,000)|4,270|(995,730)|1,000,000|
|At 31August 20200|||||||
|Gift component|ofthe permanent|endowment|1,822,407||1,822,407|1,000,000|
|Unapplied
total
Total|return||1,822,407|410,507
4'10,507|410,507
2,232,914|1,000,000|
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|At 1 September 2019|At 1 September 2019|||18,425,091|
|---|---|---|---|---|
|Incoming
resources||||23,123,409|
|Resources expended||||(23,171,410)|
|Unapplied
total return|allocated to income|in the reporting|period||
|Annual
replacement|transfer||||
|Transfer to Bursary fund|||||
|At 31 August 2019||||18,377,090|
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