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|Officers and Professional|Officers and Professional|Advisers|1-2|
|---|---|---|---|
|Governors'
Report|||3-12|
|Auditor's
Report|||13-15|
|Statement
of Financial|Activities||16-17|
|Balance Sheet|||18|
|Cashf low Statement||||
|Notes to the Accounts|||20-34|
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|||||Unrestricted|Restricted|Endowed||
|---|---|---|---|---|---|---|---|
||||Notes|Funds|Funds|Funds|2022|
|||||E|E|E||
|INCOME FROM:||||||||
|Donations||||69,313|55,677||124,990|
|income from Charitable|Activities|||||||
|School fees receivable||||2,802,176|||2,802,176|
|Other ancillary
trading|income|||110.789|||110,789|
|Investment
income||||31|||31|
|Grants receivable|||||25,000||25,000|
|Total income||||2,982,309|80,677||3,062,986|
|EXPENDITURE ON:||||||||
|Charitable
activities||||||||
|School operating
costs||||3,029,914|13,956||3,043,870|
|Costs of generating
funds||||||||
|School financing
costs||||7,267|||7,267|
|Total expenditure||||3,037,181|13,956||3,051,137|
|Net income / (expenditure)||||(54,872)|66,721||11,849|
|Transfers between
funds|||22|(28,002)|(92,444)|120,446||
|Other recognised
gains /|(losses)|||||||
|Gains / (losses) on investments|||||(287)||(287)|
|Gains / (losses) on revaluation||of fixed assets||||||
|NET MOVEMENT
IN FUNDS||||(82,874)|(26,O1O)|120,446»,562||
|RECONCILIATION
OF FUNDS||||||||
|Fund balances at I September||2021||(1,786,354)|26,010|3,258,716|1,498,372|
|FUND BALANCES AT 31 AUGUST||2022|16|(1,869,228)||3,379,162|1,509,934|
|||||Unrestricted|Restricted|Endowed||
|---|---|---|---|---|---|---|---|
||||Notes|Funds|Funds|Funds|2021|
|||||(restated)|(restated)|(restated)|(restated)|
|||||E|E|E||
|INCOME FROM:||||||||
|Donations||||39,153|20,837||59,990|
|Income from Charitable|Activities|||||||
|School fees receivable||||2,363,444|||2,363,444|
|Other ancillary
trading|income|||88,930|||88,930|
|Investment
income|||||320||320|
|Grants receivable||||30,949|||30,949|
|Total income||||2,522,476|21,157||2,543,633|
|EXPENDITURE ON:||||||||
|Charitable
activities||||||||
|School operating
costs||||2,614,334|3,892|84,802|2,703,028|
|Costs ofgenerating
funds||||||||
|School financing
costs||||2,339|||2,339|
|Total expenditure||||2,616,673|3,892|84,802|2,705,367|
|Net income / (expenditure)||||(94,197)|17,265|(84,802)|(161,734)|
|Transfers between
funds|||22|(27,289)||27,289||
|Other recognised
gains /|(losses)|||||||
|Gains / (losses) on investments|||||5,292||5,292|
|Gains / (losses) on revaluation||offixed assets||||1,753,749|1,753,749|
|NET MOVEMENT
IN FUNDS||||(121,486)|22,557|1,696,236|1,597,307|
|RECONCILIATION
OF FUNDS||||||||
|Fund balances at
1 September||2020||(1,664,868)|3,453|1,562,480|(98,935)|
|FUND BALANCES AT 31 AUGUST||2021|16|(1,786,354)|26,010|3,258,716|1,498,372|
||THE READ SCHOOL, DRAX|THE READ SCHOOL, DRAX|||||
|---|---|---|---|---|---|---|
||BALANCE SHEET AS AT 31 AUGUST||2022||||
||Notes||2022||2021|(restated)|
||||K||||
|FIXED ASSETS|||||||
|Tangible
fixed assefs|11|||3,579,432||3,335,554|
|Investments|12|||25,753||26,041|
|||||3,605,185||3,361,595|
|CURRENT ASSETS|||||||
|Stocks||16,873|||13,406||
|Debtors|13|804,973|||733,143||
|Bank and cash balances||129,368|||363,348||
|||951,214|||1,109,897||
|CREDITORS: due within one year||1,353,382|||1,347,847||
|NET CURRENT ASSETS/(LIABILITIES)||||(402,168)||(237,950)|
|1'OTAL ASSETS LESS CURRENT LIABILITIES||||3,203,017||3,123,645|
|CREDITORS."due after more than one year|15|||(1,643,523)||(1,576,044)|
|PROVISIONS|||||||
|Pension scheme deficit|19|||(49,560)||(49,229)|
|TOTAL NET ASSETS||||1,509,934||1,498,372|
|Endowed
funds|16|||3,379,162||3,232,706|
|Restricted
funds|16|||||26,010|
|Unrestricted
funds|16|||(1,869,228)||(1,760,344)|
|TOTAL FUNDS||||1,509,934||1,498,372|
##
||||||||Notes|2022||2021 (restated)|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||E||E|
|CASH FLOWS FROM OPERATING ACTIVITIES:|||||||||||
|NET CASH PROVIDED BY/|(USED IN) OPERATING|||ACTIVITIES|||||63,621|54,507|
|CASHFLOWS FROM INVESTING ACTIVITIES|||||||||||
|Investment
income received||||||||31||320|
|Payments
for tangible
fixed assets||||||||(298,632)||(47,391)|
|Proceeds on sale oftangible
fixed assets||||||||1,000|||
|Net cash provided
by / (used in) investing||activities|||||||(297,601)|(47,071)|
|CHANGE
IN CASH AND CASH EQUIVALENTS|||IN THE||REPORTING PERIOD||||(233,980)|7436|
|RECONCILIATION
OF NET CASH FLOW TO MOVEMENT||||||IN NET FUNDS|||||
|Cash and cash equivalents|at beginning|of|year||||||363,348|355,912|
|Change
in cash and cash|equivalents
in the||reporting|||period|||(233,980)|7,436|
|Cash and cash equivalents|at end ofyear||||||||129,368|363,348|
|NOTES TO THE CASH FLOW|STATEMENT||||||||||
|a.
Reconciliation
of net|income /(expenditure)||||to|net cash flow from|operating|activities|||
|Net income / (expenditure)
for the reporting|||||period (as per the||||||
|statement
of financial|activities)||||||||11,562|1,597,307|
|Investment
income||||||||(31)||(320)|
|Profit on disposals of|fixed assets|||||||(1,000)|||
|Unrealised
(gain)/loss|on fixed assets|||||||||(1,753,749)|
|Unreafised
(gain)/loss|on investments|||||||287||(5,292)|
|Depreciation
charge||||||||54,754||115,991|
|(Increase)/decrease|in stock|||||||(3,466)||(13,406)|
|(Increase)/decrease|in debtors|||||||(71,830)||(139,674)|
|Increase/(decrease)|in creditors|||||||73,014||258,748|
|Increase/(decrease)|in provisions|||||||331||(5,098)|
||||||||||52,059|(1,542,800)|
|Net cash provided
by / (used In) operations|||||||||63,621|54,507|
|b.
Analysis ofcash and|cash equivalents||||||||||
|Cast at bank and in hand|||||||||12'9,368|363,348|
||||||||||129,368|363,348|
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||||||||
|---|---|---|---|---|---|---|
|Schoo|l fees receivable consist of:||||2022|2021|
|||||||(restated)|
|||||||E|
|Gross|fees||||3,387,230|2,976,547|
|Less:|Total bursaries and other discounts||||(697,210)|(681,905)|
||||||2,690,020|2,294,642|
|Add:|Extras recoverable,
examination|fee income, registration|fees,||||
||deposits forfeit and medical services||||112,156|68,802|
||||||2,802,176|2,363,444|
|All school fees in the current and previous year related to unrestricted||||funds.|||
##
##
|'|||
|---|---|---|
|01HER ANCILLARY TRADING INCOME|2022|2021|
|||(restated)|
|||E|
|UNRESTRICTED FUNDS|||
|Transport|66,428|46,933|
|Other sundry income|44,361|41,997|
||110,789|88,930|
##
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##
||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
|||||||||(restated)|
|||||||||E|
|Fees payable|for the audit ofthe financial statements||||||8,400|8,000|
|Fees payable|to|the charity's auditor and its associates for other services:|||||||
|Other non-audit||services|||||32,832|7,000|
|DONATIONS|||||||2022|2021|
|||||||||(restated)|
|UNRESTRICTED FUNDS|||||||||
|Read School|Enterprises||Limited||||43,566|26,327|
|Parents and Friends Association||||5, Old Draxonians|Association||60||
|Others|||||||25,687|12,826|
||||||||69,313|39,153|
|RESTRICTED FUNDS|||||||||
|Others|||||||55,677|20,837|
|INVESTMENT INCOME|||||||||
||||||2022|2022|2022|2021|
|||||||||(restated)|
||||||Unrestricted|Restricted|Total|Total|
||||||E|E|E|E|
|Active Saver Account Interest|||||31||31|320|
|Charities
Official||investment
Income|||||||
||||||31||31|320|
##
##
##
|Total expenditure||||||||
|---|---|---|---|---|---|---|---|
|||||Staff costs|Depreciation|Other|Total|
|||||(note 8)|(note 11)||2022|
|||||E|E||8|
|Charitable
activities||||||||
|Teaching costs||||1,630,126||90,723|1,720,849|
|Welfare costs||||||241,849|241,849|
|Premises|||||54,754|322,218|376,972|
|Support and governance|||costs|493,634||210,566|704,200|
|Total charitable
expenditure||||2,123,760|54,754|865,356|3,043,870|
|Costs ofgenerating|funds|||||||
|Finance and other costs||||||7,267|7,267|
|Total costs ofgenerating||funds||||7,267|7,267|
|Total expended||||2,123,760|54,754|872,623|3,051,137|
|||||Staff costs|Depreciation|Other|Total|
|||||(note 8)|||2021|
||||||||(restated)|
|Charifable
activities||||||||
|Teaching costs||||1,568,314||45,679|1,613,993|
|Welfare costs||||||244,259|244,259|
|Premises|||||115,991|230,169|346,160|
|Support and governance||costs (note 6b)||336,498||162,118|498,616|
|Total charitable
expenditure||||1,904,812|115,991|682,225|2,703,028|
|Costs ofgenerating
funds||||||||
|Finance and other costs||||||2,339|2,339|
|Total costs ofgenerating||funds||||2,339|2,339|
|Total expended||||1,904,812|115,991|684,564|2,705,367|
|Of the total expenditure||in|the year R13,956was restricted|(2021:Z3,892) and fnil related||to endowment|funds
(2021|
|:E84,802).||||||||
|||||||2022|2021|
||||||||(restated)|
|Support costs include|the|following:||||||
|Non-teaching
support|salaries|||||335||
|Advertising
and publicity||||||29,037|33,811|
|Telephone
8, Internet||||||8,720|7,586|
|Printing, copying, postage,|||stationery and newspapers|||28,199|39,700|
|Auditor's
remuneration||||||8,400|8,000|
##
##
|The aggregate
payroll costs for the year were as follows:|||
|---|---|---|
||2022|2021|
|||(restated)|
|||F.|
|Wages and salaries|1,680,070|1,445,385|
|Social security costs|154,503|130,035|
|Pension contdbutions|279,375|235,314|
||2,113,948|1,810,734|
|||2022|2021|
|---|---|---|---|
||||(restated)|
|270,001|tof80,000||1|
|The aver|age number|ofthe School's employees
during the ye|ar, was 77(2021:61)||
|---|---|---|---|---|
||||2022|2021|
||||No.|No.|
|Teaching|8,teaching|support|47|36|
|Domestic|||11|12|
|Grounds|/ Ddving||8|6|
|Administration|||ll|7|
||||77|61|
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##
|||Freehold|Property||||
|---|---|---|---|---|---|---|
|||Land 8,|Improve-|Furniture
8,|Motor||
|||Buildings|ments|Equipment|Vehicles|Total|
|||E|E|E|E|E|
|COST|||||||
|At
I September|2021|6,046,551||561,949|9,036|&,&17,53&|
|Additions|||119,162|75,328|104,142|298,&32|
|Disposals||(1,449)|||(8,436)|(9,885)|
|At 31 August 2022||6,045,102|119,162|637,277|104,742|&,90&,283|
|DEPRECIATION|||||||
|At
1 September|2021|2,786,551||486,395|9,036|3,281,982|
|Charge for year||||40,858|13,896|54,754|
|On disposals||(1,449)|||(8,436)|(9,885)|
|At 31 August 2022||2,785, 102||527,253|14,496|3,32&,851|
|NET BOOK VALUES|||||||
|At 31 August 2022||3,260,000|119,162|110,024|90,246|3,579,432|
|At 31 August 2021||3,260,000||75,554||3,335,554|
##
##
|would have||been recognised
ifthe assets had been carried under|the historical cost model are as follows:—|
|---|---|---|---|
||||Freehold|
||||Properly|
||||E|
|At 3T August||2022||
|Aggregate||cost|4,552,802|
|Aggregate||depreciation|(2,785,102)|
||||1,7&7,700|
|At 31 August||2021||
|Aggregate|cost||4,552,802|
|Aggregate|depreciation||(2,785,102)|
||||1,767,700|
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
||||||||(restated)|
||||||||E|
|Charities|Official Investment||Fund|||25,263|25.717|
|Charinco|Common|Investment||Funds|—Adept|257|170|
||||||—Taylor|233|154|
|||||||25,753|26,041|
||||||2022|2021|
|---|---|---|---|---|---|---|
||||||Market|Market|
||||||Value|Value|
||||||E|E|
||Charities|Official Investment||Fund|25,263|25,717|
|13.|DEBTORS||||||
||||||2022|2021|
|||||||(restated)|
|||||||E|
||School Fees||||713,379|659,280|
||Other debtors||||62,647|52,394|
||Prepayments||||28,947|21,469|
||||||804,973|733,143|
||All debtors|are due|within one year.||||
|14.|CREDITORS: amounts||falling|due within one year|||
|CREDITORS: am|ounts
falling due within one year|||
|---|---|---|---|
|||2022|2021|
||||(restated)|
||||E|
|Fees invoiced|in advance|923,192|817,384|
|Trade creditors||205,686|170,611|
|Social security|and other taxes|101,466|167,481|
|Pensions||30,102|133,006|
|Sundry creditors and accruals||66,546|37,136|
|Hire purchase|liabilities|16,826|2,229|
|Loans||9,564|20,000|
|||1,353,382|1,347,847|
|14.|CREDITORS: a|mo|unfs
falling due within one|unfs
falling due within one|year (continued)|||
|---|---|---|---|---|---|---|---|
||Fees invoiced|in|advance reconciliation|||||
|||||||2022|2021|
||||||||(restated)|
||||||||E|
||Balance brought||forward|||817,384|674,787|
||Amount released||to|Statement of Financial|Activities|(817,384)|(674,787)|
||Amount deferred||in|year||923,192|817,384|
|||||||923,192|817,384|
|15.|CREDITORS: amounts|||falling due after one year||||
|||||||2022|2021|
||||||||(restated)|
|||||||E|8|
||Loans|||||1,455,936|1,464,743|
||Hire purchase|liabilities||||60,486|3,723|
||Other long term||creditors|||127,101|107,578|
|||||||1,643,523|1,576,044|
##
##
|||Balance at|Incoming|Resources||Gains /.|Balance at|
|---|---|---|---|---|---|---|---|
|||31.08.2021|Resources|Expended|Transfers|(Losses)|31.08.2022|
|||K|E||E|E|E|
|Endowed|Funds|||||||
|Foundation|Capital|3,258,716|||120,446||3,379,162|
|Restricted|Funds|||||||
|Scholarships||||||||
|Prize Funds|||||287|(287)||
|Giffs (Restricted)||26,010|80,677|(13,956)|(92,731)|||
|||26,010|80,677|(13,956)|(92,444)|(287)||
|Unrestricted|Funds|||||||
|General Reserve||(1,786,354)|2,982,309|(3,037,181)|(28,002)||(1,869,228)|
|||(1,786,354)|2,982,309|(3,037,181)|(28,002)||(1,869,228)|
|Total Funds||1,498,372|3,062,986|(3,051,137)||(287)|1,509,934|
##
##
##
|ANALYSIS||OF MOVEMENT|OF FUNDS (continue|d)|||||
|---|---|---|---|---|---|---|---|---|
||||Balance at|Incoming|Resources||Gains /|Balance at|
||||31.08.2020|Resources|Expended|Transfers|(Losses)|31.08.2021|
|||||||||(restated)|
||||||||E||
|Endowed|Funds||||||||
|Foundation||Capital|1,562,480||(84,802)|27,289|1,753,749|3,258,716|
|Restricted||Funds|||||||
|Scholarships|||||||||
|Prize Funds|||||||||
|Gifts (Restricted)|||3,453|21,157|(3,892)||5,292|26,010|
||||3.453|21,157|(3,892)||5,292|26,010|
|Unrestricted||Funds|||||||
|General Reserve|||(1,664,868)|2,522,476|(2,616,673)|(27,289)||(1,786,354)|
||||(1,664,868)|2,522,476|(2,616,673)|(27,289)||(1,786,354)|
|Total Funds|||(98,935)|2,543,633|(2,705,367)||1,759,041|1,498,372|
##
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##
##
##
##
||Endowed|Restricted|Unrestricted|Total|
|---|---|---|---|---|
||2022|2022|2022|2022|
||E|E|K|E|
|Tangible fixed assets|3,379,1&2||200,270|3,579,432|
|Investments|||25,753|25,753|
|Net current assets|||(402,168)|(402,168)|
|Long term liabilities|||(1,643,523)|(1,643,523)|
|Provisions|||(49,560)|(49,560)|
||3,379,162||(1,869,228)|1,509,934|
||Endowed|Restricted|Unrestricted|Total|
||2021|2021|2021|2021|
|||||(restated)|
|||||E|
|Tangible fixed assets|3,260,000||75,554|3,335,554|
|Investments|||26,041|26,041|
|Net current assets / (liabilities)|(1,284)||(236,666)|(237,950)|
|Long term liabilities|||(1,576,044)|(1,576,044)|
|Provisions|||(49,229)|(49,229)|
||3,258,716||(1,760,344)|1,498,372|
##
|The total f|uture|minimum
lease payments
payable
under finance leas|es are as follows:-||
|---|---|---|---|---|
||||2022|2021|
|||||(restated)|
||||E|E|
|Not later than||1 year|23,167|1,330|
|Later than|1 year and not later than 5years||70,899||
||||94,066|1,330|
##
|The total m|inim|um
lease payments
under non-cancellable
operating
|leases are as follows:-|leases are as follows:-||
|---|---|---|---|---|---|
||||2022||2021|
||||||(restated)|
|||||E|E|
|Not later than||I year|8,813||13,219|
|Later than|I year and not later than 5years||||8,813|
||||8,813||22,032|
##
##
##
|PRESENT VALUE OF PROVISION|PRESENT VALUE OF PROVISION|PRESENT VALUE OF PROVISION|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|2020|
|||||||||E|||
|Present value of provision||||||||49,560|49,229|54,327|
|RECONCILIATION||OF OPENING|AND CLOSING|||PROVISIONS|||||
||||||||||2022|2021|
|||||||||||(restated)|
|||||||||||E|
|Provision at start ofperiod|||||||||49,229|54,327|
|Unwinding
ofthe||discount factor||(interest|expense)||||508|463|
|Deficit contribution||paid|||||||(5,305)|(5,151)|
|Remeasurements||—impact ofany||change|in assumptions||||(8,227)|(410)|
|Remeasurements||-amendments||to contribution
schedule|||||13,355||
|Provision at end ofperiod|||||||||49,560|49,229|
|STATEMENT OF FINANCIAL
ACTIVITIES IMPACT|||||||||||
||||||||||2022|2021|
|||||||||||(restated)|
||||||||||E|E|
|Interest expense|||||||||508|463|
|Remeasurements||-impact ofany||change|in assumptions||||(8,227)|(410)|
|Remeasurements
Contributions
paid||—amendments
to contribution
respect of future service *||||schedule|||13,355
35&,dOd|308,081|
|Costs recognised|in the statement|||of financial||activities|||3d4,242|308,134|
|*Includes defined||contribution|schemese||and|future service contributions||(i.e.excluding|any deficit reduction|payments)|
|to defined benefit||schemes which||are treated||as defined contributions|schemes.||||
|ASSUMPTIONS|||||||||||
##
|||31.08.2022|31.08.2021|31.08.2020|
|---|---|---|---|---|
|Year|I|5,428|5,305|5,151|
|Year|2|5,591|5,465|5,305|
|Year|3|5,759|5,628|5,465|
|Year|4|5,932|5,797|5,628|
|Year|5|6,110|5,971|5,797|
|Year|6|6,293|6,150|5,971|
|Year|7|6,482|6,335|6,150|
|Year|8|6,676|6,525|6,335|
|Year|9|6,877|4,480|6,525|
|Year|10|5,902||4,480|
##
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