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2023-08-31-accounts

Contents Page
Trustees, Officers and Administrative Details
Directors Report 2-10
Independent
Auditor's		 Report 11-14
Statement
of Financial		 Activities 15
Balance Sheet 16
Statement
ofCash Flows		 17
Nates tothe Financial Statements

2023 2023 2023 2022
General Restricted Total Total
Funds Funds
6 6
INCOME
Donations 5,567 5,567 6,727
Charitable
activities
School fees receivable 2 9,126,457 9,126,457 8,435,738
Other educational
income		 314,977 314,977 293,310
Other ancillary trading income 3 94,534 94,534 93,541
Raising funds
Activities for generating funds 110,000 110,000 130,000
Rents and school lets 130,085 130,085 117,194
Investment
income		 232
Other income 720 720 5,717
TOTALINCOME 9,776,773 5,567 9,782,340 9,082,459
EXPENDITURE
Raising Funds 7 28,428 28,428 29,362
Charitable
activities
Provision ofeducation 7 9,824,099 9,824,099 9,133,658
TOTAL EXPENDITURE 7 9,852,527 9,852,527 9,163,020
NET (EXPENDITURE)/INCOME
BEFOREOTHER GAINS		 (75,754) 5,567 (70,187) (80,561)
Transfer between
funds		 16 50,000 (50,000)
Net movement
in funds		 (25,754) (44,433) (70,187) (80,561)
Funds brought
forward at		 1 September 5,832,963 400,393 6,233,356 6,313,917
Funds carried forward at 31August 17 5,807,209 355,960 6,163,169 6,233,356

Notes 2023 2022
6
Net cash flows from operating activities 19 (84,245) 659,114
Financing
activities:
Investment
income		 232
Interest paid (282)
Loan repayments (250,000)
Net cash flows from financing activities (250,050)
Investing
activities:
Purchase oftangible fixed assets (81,881) (85,450)
Disposal of investments
Net cash flows from investing activities (81,881) (85,450)
(Decrease)/Increase in cash in the year (166,126) 323,614
Cash at the start ofthe year 3,285,520 2,961,906
Cash at the end ofthe year 3,119,394 3,285,520
At 1 Cash Row At 31
September August 2023
2022
6
Cash in hand 3,037 7,198 10,235
Cash at bank 3,282,483 (173,324) 3,109,159
Net cash 3,285,520 (166,126) 3,119,394

Depreciation
Depreciation
is provided		 on tangible fixed assets so as to write off their cost by equal instalments over the expected useful
lives of the assets concerned. The estimated useful lives are considered to be as follows:
Freehold
buildings		 -20 to 125years
Leasehold
improvements		 - period of lease
Plant and equipment -7 years
Computer
equipment		 -5 years
Furniture,
fixtures and fittings		 - 10years
Motor vehicles -4 years or penod oflease

es
2023 2022
6 6
Gross school fees 10,898,460 10,315,332
Less: Scholarships, bursaries, allowances and agent fees (1,772,003) (1,879,594)
9,126,457 8,435,738

her income
2023 2022
6
Other ancillary trading income:
Transport to/from School 56,094 53,047
Uniform 38,440 40,494
93,541
Activity for generating funds:
Donation from HLC (Properties) Ltd 110,000 130,000
110,000 130,000

nation
in		 come
2023 2022
Restricted Restricted
8 6
Donations to the Small Hall Fund 814
Donations to the Scholarship, Bursary and Prize Fund 5,567 5,912
5,567 6,726
estment income
2023 2022
f f
Bank interest received 232
232

Other income
2023 2022
E E
Miscellaneous income 720 5,717
720 5,717
Other income is all unrestricted (2022: all unrestricted).
7 Analysis oftotal expenditure oftotal expenditure
Staff Other 2023
Year ended 31August 2023 COSts costs Depreciation Total
E E E
Cost ofgenerating funds
Rental costs 8,108 8,108
Bank charges 20,320 20,320
8,108 20,320 28,428
Charitable
activities
Provision ofeducation
Teaching 4,281,296 310,066 4,591,362
Welfare 686,331 1,227,423 1,913,754
Premises 263,143 1,554,993 310,191 2,128,327
Support costs 771,567 389,159 1,160,726
Governance costs 29,930 29,930
6,002,337 3,511,571 310,191 9,824,099
Total resources expended 6,010,445 3,531,891 310,191 9,852,527
Staff Other 2022
Year ended 31August 2022 COStS costs Depreciation Total
E E E E
Cost ofgenerating funds
Rental costs 8,250 8,250
Bank charges 21,112 21,112
8,250 21,112 29,362
Charitable
activities
Provision ofeducation
Teaching 4,089,196 185,769 4,274,965
Welfare 696,151 926,924 1,623,075
Premises 230,484 1,543,487 320,773 2,094,744
Support costs 688,411 419,471 1,107,882
Governance costs 32,992 32,992
5,704,242 3,108,643 320,773 9,133,658
Total resources expended 5,712,492 3,129,755 320,773 9,163,020

Analysis
oftotal expenditur		 e (continued)
2023 2022
E E
Charitable
activities include:
Depreciation
on owned		 assets 310,191 320,773
Operating
lease rentals		 37,832 21,537
Governance costs include:
Auditors'
remuneration		 for:
Audit services 16,400 13,000
Accountancy
services		 3,900 3,000
20,300 16,000
Unless otherwise
specified,		 all costs in this note are unrestricted.
Staff costs
2023 2022
E E
Total staff costs comprised:
Wages and salaries 4,960,143 4,544,456
Social security costs 432,018 424,315
Pensions
contributions
Teachers' Pension schemes 530,069 610,703
Pensions Trust Growth Plan 79,067 127,940
Pensions Trust Unitised Ethical Plan 9,148 5,078
6,010,445 5,712,492
The average numbers
ofemployees		 in the year were: 2023 2022
Teaching
Full time 60 49
Part arne 65 76
Welfare
Full time 11
Part time 28
Premises
Full time
Part time
Support
Full Sme 13 14
Part time 8 6
197
24
ggre
the		 gate
remuneration
(including
gross pay a
period was: E446,929(2022:E459,367).		 nd employer's
pension
contributions)
paid t		 o key management personnel
The number of employees whose emoluments (gross pay) exceeded E60,000 were: 2023 2022
E60,001 to E70,000 2
E70,001 to E80,000 3
E80,001toE90,000 1
E100,001-E110,000
E110,001-E120,000

Tangible assets
Freehold Leasehold Furniture, Motor Plant 8 Computer Total
fixtures 8 vehicles equipment equipment
fittings
E
Cost
(or frozen
valuation*)
1 September 2022 3,501,786 6,730,175 996,369 286,306 1,235,011 344,410 13,094,057
Adjustment 1200 1,200
Additions 34,266 28,220 12,300 5,069 2,026 81,881
Disposals (180,292) (180,292)
31August 2023 3,501,786 6,764,441 1,024,589 119,514 1,240,080 346,436 12,996,846
Depreciation
1 September 2022 227,680 3,886,712 948,437 273,298 1,072,992 297,802 6,706,921
Charge for the year 28,089 183,958 10,935 10,180 60,398 16,631 310,191
Disposals (180,293) (180,293)
31August 2023 255,769 4,070,670 959,372 103,185 1,133,390 314,433 6,836,819
Net Book Value
31August 2023 3,246,017 2,693,771 65,217 16,329 106,690 32,003 6,160,025
31 August 2022 3,274,106 2,843,463 47,932 13,008 162,019 46,608 6,387,136

The following
information
is disclosed:
2023 2022
Balance ofCapital and reserves 10,135 6,851
Result lor the period after distributions 10,133 6,849
12 Debtors
2023 2022
6 6
Debtors in respect ofschool fee accounts 244,274 224,838
Amounts
owed by subsidiary
undertaking		 338,282 286,774
Other debtors 11,090 8,872
Prepayments
and accrued income		 239,430 234,220
833,076 754,704
13 Creditors: amounts
falling due within one year
2023 2022
School fees paid on account 1,690,851 1,831,378
Pupils'
initial deposits		 1,227,363 1,144,114
Amounts
owed toTeachers' Pension schemes		 67,999 67,967
Taxation and social security 118,057 100,168
Net Present Value of Pensions Trust deficit recovery contributions 10,339 10,339
Accruals 307,909 394,181
Other creditors 521,452 630,182
3943 970 4 178329

2023 2022
E E
Net Present Value ofPensions Trust deficit recovery contributions 3,750 13,418
Oiher creditors 1,608 2,258
5,358 15,676
eneral funds —unrestricted
2023 2022
E E
At 1 September 5,832,963 5,870,251
Net outgoing
resources		 (75,754) (87,288)
Transfer offunds 50,000 50,000
At 31 August 5,807,209 5,832,963
stricted funds
At 1 September Incoming Outgoing Transfer of At 31 August
2022 resources resources funds 2023
Scholarship,
Bursary
and Prize Fund		 392,076 5,567 (50,000) 347,643
Small Hall Fund 8,317 8,317
400,393 5,567 (50,000) 355,960
At 1 September Incoming Outgoing Transfer of At 31 August
2021 resources resources funds 2022
Scholarship,
Bursary
and Prize Fund		 436,164 5,912 (50,000) 392,076
Small Hall Fund 7,502 815 8,317
443,666 6,727 (50,000) 400,393

17 Analysis ofNet Assets betwe en funds
Unrestricted funds Restricted funds Total funds
Fund balances at 31 August 2023are represented by:
Tangible fixed assets 6,160,025 6,160,025
Investments 2 2
Current assets 3,596,510 355,960 3,952,470
Creditors (3,949,328) (3,949,328)
5,807,209 355,960 6,163,169
Unrestricted funds Restricted funds Total funds
Fund balances at 31 August 2022 are represented by;
Tangible fixed assets 6,387,136 6,387,136
Investments 2 2
Current assets 3,639,831 400,393 4,040,224
Creditors (4,194,006) (4,194,006)
5,832,963 400,393 6,233,356
18 Reconciliation
ofmovement		 in total funds
2023 2022
6 6
Result for the financial period (70,187) (80,561)
Gains/(losses) on investments
Net movement in funds (70,187) (80,561)
Opening
funds		 6,233,356 6,313,917
Closing funds 6,163,169 6,233,356
19 Reconciliation
of net movement		 in funds to net cash flows from operating activities
2023 2622
6 6
Net expenditure for the period (70,187) (80,561)
Investment
income		 (232)
Interest paid 282
Operating
loss for the period		 (70,187) (80,511)
Depreciation
charge		 310,191 320,773
Profit on disposal ofasset (2,199)
(Increase)
in debtors		 (78,372) (159,220)
(Decrease)/increase in creditors (243,678) 578,072
Net cash inflow from operating activities (84,245) 659,114

2022 2022 2022
General Restricted Total
Funds Fundsf
INCOME
Donations 6,727 6,727
Charitable
activities
School fees receivable 8,435,738 8,435,738
Other educational
income		 293,310 293,310
Other ancillary
trading income		 93,541 93,541
Raising funds
Activities for generating funds 130,000 130,000
Rents and school lets 117,194 117,194
Investment
income		 232 232
Otherincome 5,717 5,717
TOTAL INCOME 9,075,732 6,727 9,082,459
EXPENDITURE
Raising Funds 29,362 29,362
Charitable
activities
Provision ofeducation 9,133,658 9,133,658
TOTAL EXPENDITURE 9,163,020 9,163,020
NET (EXPENDITURE)/INCOME
BEFOREOTHER GAINS		 (87,288) 6,767 (80,561)
Transfer between
funds		 50,000 (50,000)
Net movement
In funds		 (37,288) (43,273) (80,561)
Funds brought
forward at		 1 September 5,870,251 443,666 6,313,917
Funds carried forward at 31 August 5,832,963 400,393 6,233,356