**Charity registration number 529540**
**Company registration number 1036833 (England and Wales)**
## **CUNDALL MANOR LIMITED**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
## **CUNDALL MANOR LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Legal and administrative information|1|
|Trustees' report|2 - 5|
|Independent auditor's report|6 - 8|
|Statement of financial activities|9 - 10|
|Statement of financial position|11 - 12|
|Statement of cash flows|13|
|Notes to the financial statements|14 - 25|
## **CUNDALL MANOR LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mr B Bigley||
|---|---|---|
||Mrs C Burrows||
||Mr S J Kayll||
||Mr A P Mindenhall||
||Mrs R Powell||
||Mr D Richards|(Resigned 31 March 2022)|
||Mrs S Sadler||
||Mr J C D Turner||
||Miss A Wheatcroft||
||Mr D M Willis||
||Mr R A Zoing|(Resigned 6 May 2022)|
||Mr M Hunt|(Appointed 23 September 2021)|
||Mrs F Cunliffe-Lister|(Appointed 18 March 2022)|
|**Key Management Personnel**|Mr C James-Roll|(Appointed September 2022)|
||Mrs A Kirby|(Resigned September 2022)|
|**Charity number**|529540||
|**Company number**|1036833||
|**Principal address and registered office**|Cundall Manor School||
||Cundall||
||York||
||YO61 2RW||
|**Auditor**|N Clemit ACA, FCCA||
||JWPCreers LLP||
||Chartered Accountants||
||Genesis 5||
||Church Lane||
||York||
||YO10 5DQ||
|**Bankers**|Barclays Bank Plc||
||PO Box 456||
||25 James Street||
||Harrogate||
||HG1 1ZT||
- 1 -
## **CUNDALL MANOR LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
The Trustees present their annual report and financial statements for the year ended 31 August 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the School's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019".
The legal and administrative information page forms part of this report.
## **Objectives and activities**
The School is a co-educational school. It is predominately a day school with a small number of boarders. The School comprises the following:
- Nursery School
- Pre-Prep School
- Preparatory School
- Senior School
The vision for the School is to embrace childhood in a safe and enjoyable atmosphere that ensures pupils maximise their learning and achievements.
In addition to providing pupils with first class academic tuition, the School prides itself in offering a full array of non-academic activities which include art, music, woodwork, drama, cricket, rugby, football, tennis, hockey, netball and outward bound activities.
The School provides a friendly, warm environment where pupils are educated and raised aligned to the Cundall values and ethos.
## **Explanation of aims including changes in activities**
- To deliver a broad and balanced curriculum that meets the needs of all pupils in a happy, nurturing environment; to promote self-worth, confidence, good judgement and independence in our pupils;
- to care for others;
- to promote equal opportunities for all;
- to work effectively with pupils, parents and other professional bodies;
- to promote achievement and excellence across a broad and enriching curriculum ensuring every child reaches their potential. As a community, we will endeavour to produce a well-rounded individual who will feel happy, safe, supported and celebrated during their time at Cundall;
- to establish a solid financial position for the school;
- to have two classes or more in each year;
- to maximise the utilisation of the school's facilities and invest in new facilities;
- to promote ongoing learning and professional development opportunities for our employees, thereby raising professional standards throughout the school and investing in our most valuable resource - our staff.
With regard to utilisation of resources, the School rents out its indoor swimming pool to local swimming clubs and the Astro Turf to local sports clubs throughout the year and the overall School facilities to cultural and educational organisations through the school holidays.
## **Explanation of main objectives in the year and strategies for achieving them**
To develop the growing reputation of the school ensuring the ability to attract high calibre recruits to the teaching staff as well as a regular flow of new pupils.
## **Objects**
To provide a high-quality educational establishment for boys and girls.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the School should undertake.
- 2 -
## **CUNDALL MANOR LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **Details of significant activities for achieving objectives**
Mr James-Roll was appointed as Headmaster in November 2021 to take up post on 1 September 2022. He replaced Mrs Amanda Kirby who held the position of Headmistress from June 2019 and previously as a Joint Head since 2014. Mr James-Roll started with a focus on developing all-round, engaging learning experiences, including the development of a robust character curriculum, designed to build children’s skills for the future being his first priority
The school has continued its focus on maintenance across the site so that buildings and the surrounding environment provide an engaging and enriching environment for our pupils. The school has also continued to build on the IT provision across the site so the classroom are equipped for modern teaching and learning.
## **Public Benefit**
In setting objectives and planning future activities, the Governors have given careful consideration to the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on education and fee charging.
In addition to the objectives and plans set out above, the Governors have undertaken to do the following:
To grant annually a number of scholarships to gifted and talented children alongside means tested bursaries. At the same time, to recognise and accept children of mixed ability and to continue to assist children who require learning support.
To increase the provision of education and the sharing of facilities with the local community, the School makes its facilities available for use by community organisations where these can be accommodated around the School timetable. These have included the use of the Astro Turf by hockey clubs in North Yorkshire, including the North Yorkshire Hockey - Development and Academy Centre and Thirsk Hockey Club, and the sports fields, gymnastics and tennis facilities by members of the local community. Various local businesses, including Brightwater Swimming, use the swimming pool facilities outside the School timetable. To improve links with and share facilities with local primary schools, the School invites children from local primary schools to partake in music and sports events held at the School. The School also offers parents free access to a baby sensory-play programme called 'Baby Explore’ which is being reinvigorated after pausing due to the Covid pandemic. Mr James-Roll and his Senior Leadership Team will continue to grow and promote the provision and use of school facilities to local community groups and charities.
## **Achievements and performance**
The School offers academic, art, drama, music, all-rounder and sporting scholarships. The School also offers assistance to parents and members of staff in respect of the fees payable for their children based on policy and individual circumstances. The School's charitable activities are and will continue to be constantly reviewed in the light of national recommendations.
Pupils take part in a number of charitable fundraising events through the year with the proceeds being donated to a variety of charities, including, but not limited to, Race for Life, Red Nose Day, Ukrainian Ribbon Day and the Teenage Cancer Trust. During the financial year ending 31 August 2022, the pupils through School raised £2,173 (2021: £2,465).
Pupils at Cundall Manor achieved outstanding GCSE results in August 2022. 100% of pupils gained 4-9 in both Maths and English.
## **Investment powers**
Trustees may invest funds as they see fit, subject to any laws in place at the time.
## **Financial review**
The results for the year are presented on pages 9 to 12 of the Financial Statements. The total income for the year is £4,724,551 (2021: £4,823,870) and total expenditure of £4,630,685 (2021: £4,667,990). The total surplus for the year is £93,866 (2021: £155,880).
## **Going Concern**
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In order to prepare the financial statements on the going concern basis management have prepared detailed financial projections which take account of normal operating conditions and known variable factors which have affected the forecast in the past. Pupil numbers are the main determinant of the operating surplus and cash flow of the school. The governors have concluded that that there is sufficient working capital to continue operations.
## **Reserves policy**
The Trustees have reviewed the reserves of the charity. This review encompassed the nature of income and expenditure streams, the need to match income with commitments and the nature of reserves. The Trustees have determined that the appropriate level of reserves which are not invested in tangible fixed assets should be in the range of 7% - 10% of fees and ideally 8.5% of fees (equivalent to about 4 weeks' expenditure, approximately £350,000). Our policy is therefore to seek to establish reserves at that level.
- 3 -
## **CUNDALL MANOR LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **Risk Management**
The Trustees actively review the major risks to which the school is exposed. The Trustees have examined operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
Individual committees are responsible for reviewing and monitoring the management of risk in their particular area. They are satisfied that the mitigation of the identified major risks detailed below have been or are being addressed as follows:
|Failure to Govern Effectively|- Governing Body|
|---|---|
|Failure to deliver Educational objectives|- Governing Body, Education Committee|
|Failure to Safeguard Pupils|- Governing Body, Pastoral, Wellbeing and Safeguarding Committee|
|Regulatory Non Compliance|- Governing Body|
|Impact of Economic Climate|- Governing Body, Finance Committee|
|Major Fraud or Financial Mismanagement|- Governing Body, Finance Committee|
|Reputational Risk|- Governing Body|
Emphasis will continue to be placed on pupil development and resilience, curriculum development, staff development and robust management processes to achieve the School Development Plan. This will be further enhanced with Continuous Professional Development for staff.
## **Structure, governance and management**
The Governing document is the Memorandum and Articles of Association dated 3 January 1972 as amended by special resolution registered at Companies House on 22 May 2017.
## **Constitution**
The school is a company limited by guarantee with no share capital (registration no. 1036833) and a registered charity (registration no. 529540). The charitable company’s Memorandum and Articles of Association are the primary governing documents of the school.
## **Recruitment, appointment, induction and training of new Trustees**
Trustees can appoint any nominated person through the nominations committee.
Trustees are selected in accordance with the requirements of the School. As a collective unit the Trustees need relevant skills and experience to enable them to advise on the educational progression of the School, the wellbeing of the pupils and the development of the staff. The Trustees should also collectively have sound financial skills enabling them to monitor the current financial situation of the organisation and also advise on the financial impact of any strategic decisions. Individually a trustee should possess skills and experience enabling him/her to advise on management of people, financial matters, marketing and overall business management.
Our Trustees are drawn from a wide range of backgrounds and include an experienced former Head Teacher from the state sector and a boarding house master from the Independent Sector. The other Trustees include some existing and past parents, primarily selected for the range of skills and experience that they bring to the board. All of the Trustees are allocated areas of responsibility which may include finance, child safeguarding, personnel welfare and management, health and safety, site management and maintenance, educational matters and the identification and recruitment of new Trustees. Given the personal commitment required to fulfil the role, careful consideration is given to those who volunteer their services providing they meet the criteria above. The school is open to anybody being a Trustee regardless of age, race, religion, disability or gender.
Given the caliber of recruits, induction and training is primarily gained by experience of filling the role. However, specific training in certain areas is provided for Trustees to ensure that the Governing Body collectively have the full skills required for governance of the School. Training is given to all Trustees annually on Child Safeguarding with identified Trustees being given more in-depth training. Prospective Trustees are issued a briefing pack containing information about the School, the roles and responsibilities of a Trustee and the need to attend training courses and obtain the relevant safeguarding clearance before they can formally be appointed. Following their appointment, they follow a set induction procedure. All Trustees are encouraged to attend training courses and seminars organised by AGBIS and other independent school bodies, Local Authorities, and to visit other similar schools inside and outside the region.
## **Organisational structure**
Ultimate responsibility for the operation of Cundall Manor Limited rests with the Trustees who meet on a regular basis and at least quarterly. In addition, the Governing Body designated sub committees which meet on a regular basis and at least quarterly to review in depth specific aspects of the School within the committee's remit.
The day-to-day management of the School is the responsibility of the Head. The Headmaster is responsible for setting and maintaining the academic standards of the School, developing the School, staff recruitment and for ensuring adherence to financial budgets. The Headmaster also has responsibility for managing the finances and administration of the school in conjunction with the Senior Leadership Team and Trustees.
- 4 -
## **CUNDALL MANOR LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **Statement of Trustees' responsibilities**
The Trustees, who are also the directors of Cundall Manor Limited for the purpose of company law, are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true an fair view of the state of affairs of the charitable company, and of the income and expenditure of the charitable company for that year. In preparing the financial statements the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2019 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included in the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Legal Status**
The school is a charitable company limited by guarantee incorporated 3 January 1972.
The Trustees' report was approved by the Board of Trustees.
## Rachel Powell
..............................Signed on 24/04/23 @ 18:04 Mrs R Powell Trustee 2023-04-24 Date: .........................
- 5 -
## **CUNDALL MANOR LIMITED**
## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CUNDALL MANOR LIMITED**
## **Opinion**
We have audited the financial statements of Cundall Manor Limited (the ‘School’) for the year ended 31 August 2022 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
## In our opinion, the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 August 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the School in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the School’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees' with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the Trustees' report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the Trustees' report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors’ report has been prepared in accordance with applicable legal requirements.
- 6 -
## **CUNDALL MANOR LIMITED**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CUNDALL MANOR LIMITED**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit;
- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a strategic report.
## **Responsibilities of Trustees**
As explained more fully in the statement of Trustees' responsibilities in relation to the financial statements set out on page 5, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the concern basis of accounting unless the Trustees either intends to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- 7 -
## **CUNDALL MANOR LIMITED**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CUNDALL MANOR LIMITED**
The objectives of our audit, in respect to fraud are to identify and assess the risks of material misstatement of the financial statements due to fraud and obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses, and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.
Our approach was as follows:
- During our planning process we gained an understanding of the legal and regulatory frameworks that are applicable to charitable company and determined that the most significant of them, which are directly relevant to specific assertions in the financial statements, are those that relate to the reporting framework (FRS 102, the Companies Act 2006 and the Charities Act 2011) and the relevant tax compliance regulations in the UK;
- We gained an understanding of how the charitable company is complying with these frameworks by making enquiries of Trustees, key management and if necessary, advisors responsible for legal and compliance matters. We observed key controls and made appropriate enquiries following our review of contracts, interim financial data, board minutes and reports provided to the Trustees;
- We independently assessed the susceptibility of the charitable company’s financial statements to material misstatement, including how fraud or error might occur by meeting with Trustees and senior management with the skills and experience necessary to determine the risk factors which they believe expose the company to susceptibility to fraud and error. We also considered the impact of any business targets, the personal financial circumstances of management and staff to create a driver for fraud. We considered the culture and controls that the charitable company has established to address the risks identified and evaluated the effectiveness of processes and procedures to prevent and detect fraud, and how senior management monitors those processes and controls. Where the risk was considered to be higher, we designed then performed audit procedures to address each identified fraud risk. These procedures included, but were not restricted to, testing large and unusual items, journals, and transactions with high estimation uncertainty. These tests were designed to provide reasonable assurance that the financial statements were free from fraud and error; and
- Based on our audit plan and understanding of the risks that specifically affect the charitable company we designed our audit procedures to identify non-compliance with such laws and regulations identified above. Our procedures involved substantive testing of transactions and walkthrough testing of appropriate controls, with a focus on transactions in the books of prime entry that have characteristics that may indicate fraud or error. We looked for unusual patterns, large or unusual transactions, weaknesses in the payments system and new supplier transactions based on our understanding of the charitable activity; enquiries of Trustees and management and the results from previous audit testing; and focused testing, on specific complex areas based on risk. In addition, we completed procedures to conclude on the other information and disclosures in the Trustees’ Report and accounts with the requirements of the relevant accounting standards and UK legislation.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/ auditorsresponsibilities. This description forms part of our auditor's report.
## **Use of our report**
This report is made solely to the charitable company's Trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
N P Clemit Signed on 25/04/23 @ 12:18 **N Clemit ACA, FCCA** ......................... **Chartered Accountants Statutory Auditor** JWPCreers LLP
JWPCreers LLP Chartered Accountants Genesis 5 Church Lane York YO10 5DQ
- 8 -
## **CUNDALL MANOR LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **CURRENT FINANCIAL YEAR**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income**
Donations and legacies
**2**
-
23,850
Charitable activities
**3**
4,700,701
-
**Total income**
4,700,701
23,850
**Expenditure**
Raising funds
**4**
45,366
-
Charitable activities
**5**
4,577,240
8,079
**Total expenditure**
4,622,606
8,079
**Net income before transfers**
78,095
15,771
Gross transfers between funds
(588)
588
**Net income for the year**
**Net movement in funds**
77,507
16,359
Fund balances at 1 September 2021
3,368,018
62,652
**Fund balances at 31 August 2022**
3,445,525
79,011|**Total**
**2022**
**£**
23,850
4,700,701
4,724,551
45,366
4,585,319
4,630,685
93,866
-
93,866
3,430,670
3,524,536|Total
2021
**£**
25,944
4,797,926|
|---|---|---|
|||4,823,870|
|||26,042
4,641,948|
|||4,667,990|
|||155,880
-|
|||155,880
3,274,790|
|||3,430,670|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 9 -
## **CUNDALL MANOR LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **PRIOR FINANCIAL YEAR**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**
**Income**
Donations and legacies
**2**
23,182
2,762
Charitable activities
**3**
4,797,926
-
**Total income**
4,821,108
2,762
**Expenditure**
Raising funds
**4**
26,042
-
Charitable activities
**5**
4,630,957
10,991
**Total expenditure**
4,656,999
10,991
**Net income before transfers**
164,109
(8,229)
Gross transfers between funds
3,749
(3,749)
**Net income for the year/**
**Net movement in funds**
167,858
(11,978)
Fund balances at 1 September 2020
3,200,160
74,630
**Fund balances at 31 August 2021**
3,368,018
62,652|**Total**
**2021**
**£**
25,944
4,797,926|
|---|---|
||4,823,870|
||26,042
4,641,948|
||4,667,990|
||155,880
-|
||155,880
3,274,790|
||3,430,670|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 10 -
## **CUNDALL MANOR LIMITED**
## **STATEMENT OF FINANCIAL POSITION**
## _**AS AT 31 AUGUST 2022**_
||||**2022**|||**2021**||
|---|---|---|---|---|---|---|---|
||**Notes**|**£**||**£**|**£**||**£**|
|**Fixed assets**||||||||
|Tangible assets|**8**|||5,581,455|||5,597,339|
|**Current assets**||||||||
|Stocks|**9**|63,066|||67,433|||
|Debtors|**10**|191,231|||378,560|||
|Cash at bank and in hand||1,712|||2,163|||
|||256,009|||448,156|||
|**Creditors: amounts falling due within one year**|**11**|(1,554,288)|||(1,647,372)|||
|Net current liabilities||||(1,298,279)|||(1,199,216)|
|**Total assets less current liabilities**||||4,283,176|||4,398,123|
|**Creditors: amounts falling due after more than**||||||||
|**one year**|**12**|||(758,640)|||(967,453)|
|**Net assets**||||3,524,536|||3,430,670|
|**Income funds**||||||||
|Restricted funds|**16**|||79,011|||62,652|
|Unrestricted funds - general||||||||
|General unrestricted funds||2,007,482|||1,929,975|||
|Revaluation reserve||1,438,043|||1,438,043|||
|||||3,445,525|||3,368,018|
|||||3,524,536|||3,430,670|
- 11 -
## **CUNDALL MANOR LIMITED**
## **STATEMENT OF FINANCIAL POSITION (CONTINUED)** _**AS AT 31 AUGUST 2022**_
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2022, although an audit has been carried out under section 144 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
2023-04-24 The financial statements were approved by the Trustees on ......................... Simon Kayll Signed on 06/04/23 @ 18:10 Rachel Powell Signed on 24/04/23 @ 18:04 .............................. .............................. Mr S J Kayll Mrs R Powell **Trustee Trustee**
## **Company registration number 1036833**
- 12 -
## **CUNDALL MANOR LIMITED**
## **STATEMENT OF CASH FLOWS**
## _**FOR THE YEAR ENDED 31 AUGUST 2022**_
||||**2022**|||**2021**||
|---|---|---|---|---|---|---|---|
||**Notes**|**£**||**£**|**£**||**£**|
|**Cash flows from operating activities**||||||||
|Cash generated from operations|**22**|||237,406|||545,688|
|**Investing activities**||||||||
|Purchase of tangible fixed assets||(133,933)|||(196,286)|||
|**Net cash used in investing activities**||||(133,933)|||(196,286)|
|**Financing activities**||||||||
|Repayment of borrowings||(15,000)|||-|||
|Repayment of bank loans||(162,388)|||(141,375)|||
|Payment of obligations under finance leases||(14,566)|||(27,726)|||
|Increase in obligations under finance leases||6,930|||27,425|||
|**Net cash used in financing activities**||||(185,024)|||(141,676)|
|**Net (decrease)/increase in cash and cash equivalents**||||(81,551)|||207,726|
|Cash and cash equivalents at beginning of year||||(338,877)|||(546,603)|
|**Cash and cash equivalents at end of year**||||(420,428)|||(338,877)|
|**Relating to:**||||||||
|Cash at bank and in hand||||1,712|||2,163|
|Bank overdrafts included in creditors payable within||||||||
|one year||||(422,140)|||(341,040)|
- 13 -
## **CUNDALL MANOR LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **1 Accounting policies**
## **Charity information**
Cundall Manor Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Cundall Manor School, Cundall, York, YO61 2RW.
In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The charity’s registered office and the nature of the charity’s operations and principal activities are stated on the report of the board of Trustees
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the School's governing document, the Companies Act 2006, "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (issued in October 2019)" and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
The School is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the School.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
In order to prepare the financial statements on the going concern basis, the governors have completed detailed financial projections which take account of normal operating conditions and known variable factors which have affected the forecast in the past. However, the impact of the global pandemic, UK Governments response and socioeconomic factors are making business forecasting very challenging, resulting in several possible financial outcomes. In response to these challenges the governors have evaluated a range of financial outcomes to enable them to confirm the charity has sufficient resources to continue as a going concern, but we acknowledge that It is impossible to predict the longer-term impact of the pandemic on revenue.
Pupil numbers are the main determinant of the operating surplus and cash flow of the school so that funding for essential infrastructure work to maintain the quality of the education we can provide can be funded.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the funder or when funds are raised for a specific purpose.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **1.4 Income**
School fees represent charges for the school for the year less bursaries and allowances given.
Donations are included in income when they are received. Other income is accounted for on a receivable basis.
## **Advanced fees**
Where the school has received tuition fees in advance the amount is treated as deferred income.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
- 14 -
## **CUNDALL MANOR LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **1 Accounting policies**
## **(Continued)**
Expenditure are included in the Statement of Financial Activities on an accruals basis. Expenditure that can be directly attributed to charitable activities have been included under ‘direct costs’. Expenditure that cannot be directly attributed to charitable activities is included in ‘support costs’ and allocated on an appropriate basis.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Only fixed assets costing £400 or more are capitalised at cost.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property the classroom block which cost £2,297,334 is depreciated over 50 years, straight line Fixtures, fittings and equipment 15% on cost straight line/ Portacabins 10% on cost straight line Motor vehicles 25% on cost straight line
## **1.7 Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **1.8 Cash and cash equivalents**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.9 Financial instruments**
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and recognised when the company becomes a party to the contractual provisions of the instrument.
## _**Basic financial assets**_
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount net or any trade discounts due.
## _**Basic financial liabilities**_
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **1.10 Employee benefits**
## _Retirement benefits_
The school participates in a defined benefit pension scheme (the teachers’ pension scheme) but is unable to identify its share of the underlying assets and liabilities (see note 18 for more details). The pension costs charged to the statement of financial activities are the total contributions payable to the scheme in respect of the accounting period.
## _Termination payments_
The amounts included within termination payments are paid to the employee in line with the company redundancy policy.
## **1.11 Leases**
## **Finance lease**
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.
## **1.12 School trips**
The school organises a number of trips for pupils to broaden their education and recharges the cost plus an administration fee as disbursements and includes the income as income from charitable activities.
- 15 -
## **CUNDALL MANOR LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.13 Fundraising**
Fundraising for the school is recognised in the accounts when the school is entitled to the money. Any fundraising for a particular purpose is recognised as a restricted donation. Fundraising for other organisations is excluded from the accounts as the school is not entitled to the income.
## **2 Donations and legacies**
||**Restricted**|
|---|---|
||**funds**|
||**2022**|
||**£**|
|Friends of Cundall Manor|20,622|
|Other|3,228|
||23,850|
||Restricted|
||funds|
||2021|
||£|
|Friends of Cundall Manor|2,762|
||2,762|
## **3 Charitable activities**
|**Provision of**
**education**
**2022**
**£**
Gross School fees
5,172,160
Less: Total bursaries, grants
and allowances
(571,334)
Uniform sales
-
Examination fees and other
income
-
After School club income
-
Rental income
-
Government grants
1,500
4,602,326|**Trading**
**income**
**2022**
**£**
-
-
59,642
5,203
15,056
18,474
-
98,375|**Total**
**2022**
**Provision of**
**education**
**2021**
**£**
**£**
5,172,160
5,354,862
(571,334)
(652,408)
59,642
-
5,203
-
15,056
-
18,474
-
1,500
2,000
4,700,701
4,704,454|**Trading**
**income**
**2021**
**£**
-
-
62,218
5,735
19,054
6,465
-
93,472|**Total**
**2021**
**£**
5,354,862
(652,408)
62,218
5,735
19,054
6,465
2,000|
|---|---|---|---|---|
|||||4,797,926|
- 16 -
## **CUNDALL MANOR LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
**4 Raising funds**
|**5**|**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2022**
2021
**£**
£
Fundraising and publicity
Advertising
45,366
26,042
45,366
26,042
**Charitable activities**
**Charitable**
**Expenditure**
**Charitable**
**Expenditure**
**2022**
**2021**
**£**
**£**
Tutorial staff costs
2,573,698
2,694,103
Domestic staff costs
235,115
276,557
Catering
315,322
248,516
Casual wages
11,513
32,601
Laundry and cleaning
54,252
47,424
Telephone and postage
16,035
5,067
Printing, stationery and advertising
64,775
54,731
Academic and school requisites
62,496
77,283
Music and sport
15,588
10,133
Classroom rental
3,180
7,823
Travelling and motor expenses
171,070
104,129
Uniforms
48,691
47,032
Examination expenditure
266
6,882
After-school club expenditure
5,132
5,186
3,577,133
3,617,467
Share of support costs (see note 6)
998,667
1,015,725
Share of governance costs (see note 6)
9,519
8,756
4,585,319
4,641,948
**Analysis by fund**
Unrestricted funds - general
4,577,240
4,630,957
Restricted funds
8,079
10,991
4,585,319
4,641,948|**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2022**
2021
**£**
£
Fundraising and publicity
Advertising
45,366
26,042
45,366
26,042
**Charitable activities**
**Charitable**
**Expenditure**
**Charitable**
**Expenditure**
**2022**
**2021**
**£**
**£**
Tutorial staff costs
2,573,698
2,694,103
Domestic staff costs
235,115
276,557
Catering
315,322
248,516
Casual wages
11,513
32,601
Laundry and cleaning
54,252
47,424
Telephone and postage
16,035
5,067
Printing, stationery and advertising
64,775
54,731
Academic and school requisites
62,496
77,283
Music and sport
15,588
10,133
Classroom rental
3,180
7,823
Travelling and motor expenses
171,070
104,129
Uniforms
48,691
47,032
Examination expenditure
266
6,882
After-school club expenditure
5,132
5,186
3,577,133
3,617,467
Share of support costs (see note 6)
998,667
1,015,725
Share of governance costs (see note 6)
9,519
8,756
4,585,319
4,641,948
**Analysis by fund**
Unrestricted funds - general
4,577,240
4,630,957
Restricted funds
8,079
10,991
4,585,319
4,641,948|
|---|---|---|
|||3,617,467
1,015,725
8,756|
|||4,641,948|
|||4,630,957
10,991|
|||4,641,948|
- 17 -
## **CUNDALL MANOR LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **6 Support costs**
|**2022**
**Support costs**
**Governance**
**costs**
**£**
**£**
Other costs
Administration staff costs
333,106
-
Depreciation
83,094
-
General expenses
59,099
-
Bad debts
3,773
-
Financial costs
40,440
-
Legal and professional fees
34,879
-
Premises costs
Rates and water
59,884
-
Insurance
31,510
-
Light and heat
115,250
-
Repairs and maintenance
145,833
-
Hire of equipment
16,944
-
Freehold property
depreciation
66,723
-
Swimming pool expenses
8,132
-
Audit fees
-
9,519
998,667
9,519
Analysed between
Charitable activities
998,667
9,519|2021
**2022**
Support costs
Governance
costs
**£**
£
£
333,106
341,465
-
83,094
76,773
-
59,099
29,043
-
3,773
27,268
-
40,440
31,959
-
34,879
66,759
-
59,884
64,678
-
31,510
32,786
-
115,250
96,468
-
145,833
155,802
-
16,944
16,236
-
66,723
64,724
-
8,132
11,764
-
9,519
-
8,756
1,008,186
1,015,725
8,756
1,008,186
1,015,725
8,756|2021
£
341,465
76,773
29,043
27,268
31,959
66,759
64,678
32,786
96,468
155,802
16,236
64,724
11,764
8,756|
|---|---|---|
|||1,024,481|
|||1,024,481|
Included within legal and professional fees are the total of £8,724 of accountancy services (2021: £7,860).
## **7 Employees**
The average monthly number of employees during the year was:
|Teaching
Domestic
Administration
Total|**2022**
**Number**
62
11
11
84|**2021**
**Number**
62
12
12|
|---|---|---|
|||86|
- 18 -
## **CUNDALL MANOR LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
|**7**
**Employees**
**Employment costs**
Wages and salaries
Social security costs
Other pension costs
Termination payment
Casual wages
The number of employees whose annual remuneration was £60,000 or more were:
£60,000 - £70,000
£80,000 - £90,000
£100,000 - £110,000|**(Continued)**
**2022**
**2021**
**£**
**£**
2,412,878
2,579,465
240,385
256,681
488,656
463,454
-
12,525
11,513
32,601
3,153,432
3,344,726
**2022**
**2021**
**Number**
**Number**
-
1
1
-
-
1|**(Continued)**
**2022**
**2021**
**£**
**£**
2,412,878
2,579,465
240,385
256,681
488,656
463,454
-
12,525
11,513
32,601
3,153,432
3,344,726
**2022**
**2021**
**Number**
**Number**
-
1
1
-
-
1|
|---|---|---|
|||3,344,726|
|||**2021**
**Number**
1
-
1|
The total paid to key management personnel during the year was £116,494 (2021: £131,808).
## **8 Tangible fixed assets**
|**Tangible fixed assets**|||
|---|---|---|
|**Cost and valuation**
At 1 September 2021
Additions
At 31 August 2022
**Depreciation**
At 1 September 2021
Depreciation charged in the year
At 31 August 2022
**Carrying amount**
At 31 August 2022
At 31 August 2021|**Freehold**
**property**
**Fixtures,**
**fittings and**
**equipment**
**Motor vehicles**
**£**
**£**
**£**
5,808,735
1,422,676
233,494
75,006
58,927
-
5,883,741
1,481,603
233,494
504,837
1,191,094
171,635
66,723
59,781
23,313
571,560
1,250,875
194,948
5,312,181
230,728
38,546
5,303,898
231,582
61,859|**Total**
**£**
7,464,905
133,933|
|||7,598,838|
|||1,867,566
149,817|
|||2,017,383|
|||5,581,455|
|||5,597,339|
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £11,348 (2021 - £10,963) for the year.
Motor vehicles
|**2022**|**2021**|
|---|---|
|**£**|**£**|
|14,796|26,143|
- 19 -
## **CUNDALL MANOR LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **8 Tangible fixed assets**
## **(Continued)**
Freehold property was revalued on 6 November 2006 by Sanderson Weatherall, the original cost was £561,957 and the uplift was £1,438,043 which is recognised in the revaluation reserve. All additions after 2006 are shown at cost.
The Trustees have carefully considered the value of the freehold property and do not consider that the present value of the property is materially different from the accounts value. The trustees have reviewed several methods of valuing property and applied an income yield approach over several years.
## **9 Stocks**
|Goods for resale
**10**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**2022**
**£**
63,066
**2022**
**£**
21,528
1,487
168,216
191,231|**2021**
**£**
67,433|
|---|---|---|
|||**2021**
**£**
52,316
-
326,244|
|||378,560|
## **11 Creditors: amounts falling due within one year**
|**Notes**
Bank loans and overdrafts
**13**
Other borrowings
**13**
Trade creditors
Deferred income
**15**
Accruals
Other taxation and social security
Obligations under finance leases
Other creditors|**2022**
**£**
598,276
15,000
166,737
533,504
40,264
62,099
8,177
130,231
1,554,288|**2021**
**£**
514,642
15,000
215,382
505,160
59,864
62,841
7,637
266,846|
|---|---|---|
|||1,647,372|
Obligations under finance leases relates to a finance lease which is secured over the asset held under the agreement.
- 20 -
## **CUNDALL MANOR LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **12 Creditors: amounts falling due after more than one year**
|**Creditors: amounts falling due after more than one year**|||
|---|---|---|
|**Notes**
Bank loans
**13**
Other borrowings
**13**
Deferred income
**15**
Obligations under finance leases|**2022**
**£**
667,626
70,000
13,735
7,279
758,640|**2021**
**£**
832,548
85,000
34,450
15,455|
|||967,453|
Obligations under finance leases relates to a finance lease which is secured over the asset held under the agreement.
## **13 Loans and overdrafts**
|**Loans and overdrafts**|||
|---|---|---|
|Bank overdrafts
Bank loans and mortgage
Other loans
Payable within one year
Payable after one year
Amounts included above which fall due after five years:
Payable by instalments|**2022**
**£**
422,140
843,762
85,000
1,350,902
613,276
737,626
38,477|**2021**
**£**
341,040
1,006,150
100,000|
|||1,447,190|
|||529,642
917,548|
|||136,153|
The mortgage is repayable over 10 years and had a year end balance of £369,197 (2021: £428,427). The interest rate is 2% over base rate. The bank loan is repayable over 10 years and had a year end balance of £474,566 (2021: £577,723). The interest rate is 2.3% over base rate.
## **14 Secured debts**
Borrowings of £843,763 (2021: £1,006,150) are secured on the charitable company’s freehold land and buildings and a fixed and floating charge over all current and fixed assets of the company.
- 21 -
## **CUNDALL MANOR LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
|**15**|**Deferred income**|||
|---|---|---|---|
|||**2022**|**2021**|
|||**£**|**£**|
||Fees received in advance at 1 September 2021|539,610|397,627|
||Released to statement of financial activities|(505,132)|(372,930)|
||Deferred in the period|512,761|517,876|
||Transfer to other creditors|-|(2,963)|
||Balance at 31 August 2022|547,239|539,610|
||Deferred income is included in the financial statements as follows:|||
|||**2022**|**2021**|
|||**£**|**£**|
||Current liabilities|533,504|505,160|
||Non-current liabilities|13,735|34,450|
|||547,239|539,610|
Deferred income comprises fees received in advance for future periods. The 2021 transfer to other creditors represents fees collected in advance subsequently due back for school leavers.
- 22 -
## **CUNDALL MANOR LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **16 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|||**Movement in funds**|**Movement in funds**|||
|---|---|---|---|---|---|
||**Balance at**|**Income**|**Expenditure**|**Transfers**|**Balance at**|
||**1 September**||||**31 August**|
||**2021**||||**2022**|
||**£**|**£**|**£**|**£**|**£**|
|Capital donations|26,966|-|(7,673)|-|19,293|
|Summer ball donation|35,000|3,228|-|-|38,228|
|Wellbeing unit donations|686|-|(76)|-|610|
|Swimming pool changing rooms|-|20,622|(330)|588|20,880|
||62,652|23,850|(8,079)|588|79,011|
|||**Movement in funds**||||
||**Balance at**|**Income**|**Expenditure**|**Transfers**|**Balance at**|
||**1 September**||||**31 August**|
||**2020**||||**2021**|
||**£**|**£**|**£**|**£**|**£**|
|Capital donations|39,630|2,000|(10,915)|(3,749)|26,966|
|Summer ball donation|35,000|-|-|-|35,000|
|Wellbeing unit donations|-|762|(76)|-|686|
||74,630|2,762|(10,991)|(3,749)|62,652|
Capital donations – this relates to monies received for the purchase of capital items. The 2021 transfer is to correct depreciation that should have been charged in previous years against the restricted assets.
Summer ball donations – this relates to monies received for the summer ball.
Wellbeing unit donations - this relates to monies received for the well-being unit.
Swimming pool changing room donations - this relates to monies specifically restricted to the Swimming pool changing room works. Transfer represent deficit between donation and works cost.
- 23 -
## **CUNDALL MANOR LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **17 Analysis of net assets between funds**
|**Analysis of net assets between funds**||||
|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total**|
||**funds**|**funds**||
||**2022**|**2022**|**2022**|
||**£**|**£**|**£**|
|Fund balances at 31 August 2022 are represented by:||||
|Tangible assets|5,548,672|32,783|5,581,455|
|Current assets/(liabilities)|(1,336,507)|38,228|(1,298,279)|
|Long term liabilities|(758,640)|-|(758,640)|
||3,453,525|71,011|3,524,536|
||**Unrestricted**|**Restricted**|**Total**|
||**funds**|**funds**||
||**2021**|**2021**|**2021**|
||**£**|**£**|**£**|
|Fund balances at 31 August 2021 are represented by:||||
|Tangible assets|5,569,687|27,652|5,597,339|
|Current assets/(liabilities)|(1,234,216)|35,000|(1,199,216)|
|Long term liabilities|(967,453)|-|(967,453)|
||3,368,018|62,652|3,430,670|
## **18 Teachers' Pension Scheme**
The pension cost charge represents contributions payable by the school to the funds and amounted to £488,656 (2021: £463,454). There was £43,691 (2021: £51,425) outstanding to the pension scheme at the year end (including amounts collected from the employees).
Until 31 August 2021 the charity contributed to the Teachers’ Pension Defined Benefit Scheme at rates set by the Scheme Actuary and advised to the Board by the Scheme Administrator. The scheme is a multi employer’s pension scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the school. In accordance with the Charities SORP therefore, the scheme is accounted for as a defined contribution scheme. Contributions are charged to the income and expenditure account in the year in which they accrue.
From 1 September 2021 all teachers switched off Teachers' Pension Defined Benefit Scheme and began a new scheme operated by Aviva.
## **19 Operating lease commitments**
## **Lessee**
At the reporting end date the School had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
|Within one year
Between two and five years
In over five years|**2022**
**£**
10,733
29,517
-
40,250|**2021**
**£**
1,000
4,000
83|
|---|---|---|
|||5,083|
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## **CUNDALL MANOR LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **20 Related party transactions**
No Trustees (2021: one) received reimbursement (2021: £30 for services charged).
Included in the staff costs of £3,153,431 are the salary costs of individuals who are family members' of governors. The salary and overall reward package has been approved by the governing body on an arms length basis in accordance with the governor’s policies on retention and reward. This employment is in accordance with all of the terms and conditions of the governing body’s employment contract. The sum’s involved comprise of basic salary and pension contributions paid monthly.
## **21 Members**
The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member.
|**22**|**Cash generated from operations**||**2022**|**2021**|
|---|---|---|---|---|
||||**£**|**£**|
||Surplus for the year||93,866|155,880|
||Adjustments for:||||
||Depreciation of tangible fixed assets||149,817|141,497|
||Movements in working capital:||||
||Decrease in stocks||4,367|4,918|
||Decrease/(increase) in debtors||187,329|(11,716)|
||(Decrease)/increase in creditors||(205,602)|113,126|
||Increase in deferred income||7,629|141,983|
||**Cash generated from operations**||237,406|545,688|
|**23**|**Analysis of changes in net (debt)/funds**||||
|||**At 1 September**|**Cash flows**|**At 31 August**|
|||**2021**||**2022**|
|||**£**|**£**|**£**|
||Cash at bank and in hand|2,163|(451)|1,712|
||Bank overdrafts|(341,040)|(81,100)|(422,140)|
|||(338,877)|(81,551)|(420,428)|
||Loans falling due within one year|(188,602)|(2,534)|(191,136)|
||Loans falling due after more than one year|(917,548)|179,922|(737,626)|
||Obligations under finance leases|(23,092)|7,636|(15,456)|
|||(1,468,119)|103,473|(1,364,646)|
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