|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|