Contents |
|
|
Page |
Trustees,officersandadvisers |
1-2 |
AnnualReportoftheTrusteesincludingtheStrategicReport |
3-12 |
IndependentAuditor’sReport |
13-16 |
StatementofFinancialActivities |
17 |
BalanceSheet |
18 |
CashFlowStatement |
19 |
NotestotheFinancialStatements |
20-35 |
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Date:
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|
Note |
Unrestricted
funds
£ |
|
Restricted
funds
£ |
2023
Total
£ |
2022
Total
£ |
Incomefrom: |
|
|
|
|
|
|
Charitableactivities |
|
|
|
|
|
|
Schoolfeesreceivable |
2 |
7,067,785 |
|
- |
7,067,785 |
6,586,730 |
Investmentincome |
3 |
84,110 |
|
- |
84,110 |
96,939 |
Donationsandlegacies |
4 |
390 |
|
5,000 |
5,390 |
5,654 |
Otherincome |
|
79,395 |
|
- |
79,395 |
58,354 |
Totalincoming |
|
|
|
|
|
|
resources |
|
7,231,680 |
|
5,000 |
7,236,680 |
6,747,677 |
Expenditureon: |
|
|
|
|
|
|
Charitableactivities
Educationandgrant
making |
5 |
7,805,729 |
|
5,000 |
7,810,729 |
6,911,697 |
Costsofgeneratingfunds |
|
|
|
|
|
|
Investmentmanagement |
|
|
|
|
|
|
fees |
|
16,930 |
|
- |
16,930 |
19,753 |
Totalexpenditure |
|
7,822,659 |
|
5,000 |
7,827,659 |
6,931,450 |
Netincomebefore |
|
|
|
|
|
|
investmentgains |
|
(590,979) |
|
- |
(590,979) |
(183,774) |
Investment{(losses}/gains |
9 |
(55,235) |
|
- |
(55,235) |
(181,857) |
Netincome/(outgoings) |
|
(646,214) |
|
- |
(646,214) |
(365,631) |
Losses/Gainson
revaluationofinvestment |
|
|
|
|
|
|
properties |
|
- |
|
- |
- |
275,000 |
Netmovementinfunds |
|
(646,214) |
|
- |
(646,214) |
(90,631) |
Fundbalancesbrought |
|
|
|
|
|
|
forward |
|
8,365,968 |
|
“ |
8,365,968 |
8,456,599 |
Fundbalancescarried |
|
|
|
|
|
|
forward |
|
7,719,754
|
_
|
--_7,719,754
|
|
8,365,968
|
|
|
2023 |
2022 |
Fixedassets |
Note |
£ |
£ |
Tangibleassets
Investmentproperties
Securitiesinvestments |
7
8
9 |
5,010,911
1,190,000
1,794,074 |
5,158,306
2,110,000
1,985,406 |
|
|
7,994,985 |
9,253,712 |
Currentassets |
|
|
|
Stock
Debtors
Cashatbank |
10
11 |
9,500
253,936
1,877,343 |
9,500
184,459
1,306,211 |
|
|
2,140,779 |
1,500,170 |
Currentliabilities |
|
|
|
Creditorspayablewithinoneyear
Netcurrentliabilities |
12 |
(2,416,010)
(275,231) |
(2,387,915)
(887,745) |
Totalassetslesscurrentliabilities |
|
7,719,754 |
8,365,968 |
Netassets |
|
7,719,754 |
8,365,968 |
Representedby: |
|
|
|
Unrestrictedfunds |
|
|
|
Revaluationreserve
Generalreserve
Totalfunds |
18
15 |
553,783
7,165,971
7,719,754 |
751,347
7,614,621
8,365,968 |
Netcashprovidedby |
Note |
2023
£ |
£ |
|
2022
£ |
£ |
operatingactivities |
(i) |
|
(310,593) |
|
(43,401) |
|
Cashflowsfrominvesting |
|
|
|
|
|
|
activities |
|
|
|
|
|
|
Remittedinvestmentincome
Capitalexpenditure
Proceedsonsaleofinvestment
property |
|
203,277
(228,761)
907,209
7 |
|
272,864
(243,604) |
- |
|
Netcashprovidedbyinvesting
activities |
|
|
881,725 |
|
29,261
—_— |
|
Increase/(decrease)incash
intheyear |
|
|
571,132 |
|
(14,140) |
|
Netfunds1 September2022 |
|
|
1,306,211 |
|
1,320,351 |
|
Netfundsat31August2023 |
|
|
1,877,343 |
|
1,306,211 |
|
(i}
Reconciliationofnetincomingresourcestonetcashflowfromoperations |
|
|
|
|
|
|
|
|
2023 |
|
|
2022 |
|
Netincome/(deficit)
Investmentlosses/(gains)
Investmentincome
Financecosts
Depreciationcharge
Increase/ (decrease)inprovisions
Lossondisposaloffixedassets
Lossondisposalofinvestmentproperty
(Increase}/decreaseindebtors
Increase/(decrease)increditors |
|
£
55,235
(84,110)
16,930
376,156
-
;
-
12,791
{69,477}
28,096 |
£
(646,214) |
£
181,857
(96,939)
19,753
238,763
(385,082)
14,178
:
11,491
324,328 |
£
(351,750)
|
|
Netcashinflow/({outflow)from
operations |
|
|
(310,593) |
|
{43,401} |
|
(ii)
Analysisofnetdebt |
|
|
|
|
|
|
|
|
2022 |
|
|
2023 |
|
|
|
£ |
|
£ |
£ |
|
Cashandcashequivalents |
|
1,306,211
|
971,132
|
|
___1,877,343 |
| |
Qa |
Charitableactivities- feesreceivable |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Schoolfees
Scholarships,bursariesandotherremissions |
7,648,332
(580,547) |
7,222,522
{635,792} |
|
|
7,067,785
|
6,586,730
|
3. |
Investmentincome |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Interestreceived |
126 |
86 |
|
Rentalincome
Dividendsfrominvestmentportfolio |
38,150
45,834 |
47,780
49,073 |
|
|
84,110 |
96,939 |
4. |
Donationsandlegacies |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Governmentgrant |
- |
414 |
|
Sundrydonations |
5,390 |
5,240 |
|
|
5,390
|
5,654
|
5. |
Analysisofexpenditure |
|
|
|
|
(aj |
Totalexpenditure |
|
|
|
|
|
2023 |
Staffcosts
{note6)
£ |
Depreciation
{note7)
£ |
Other
£ |
Total
2023
£ |
|
Charitable |
|
|
|
|
|
expenditure
Educationandgrantmaking
Teaching
5,562,326
Premisescosts
~
Motorexpenses
~
Supportcosts
-
Total
5,562,326
|
|
173,111
203,045
-
-
376,156
|
348,729
1,025,021
157,369
341,127
1,872,246
|
6,084,166
1,228,066
157,369
341,127
7,810,728
|
|
2922 |
Staffcosts
{note6)
£ |
Depreciation
{note7)
£ |
Other
£ |
Total
2022
£ |
|
Charitable |
|
|
|
|
|
expenditure |
|
|
|
|
|
Educationandgrantmaking
Teaching
5,180,495
Premisescosts
-
Motorexpenses
.
Supportcosts
-
Total
5,180,495
|
|
45,737
193,026
-
-
238,763
|
251,133
771,991
164,746
304,569
1,492,439
|
5,477,365
965,017
164,746
304,569
6,911,697
|
|
2023 |
2022 |
Theaggregatepayrollcostsfortheyearwereasfollows:
Wagesandsalaries
Socialsecuritycosts
Otherpensioncosts
|
£
4,345,851
429,743
786,732
|
£
4,044,023
410,078
726,394
|
|
5,562,326
|
5,180,495
|
Includedintheabovewereterminationpaymentstotalling£nil |
(2022:£11,721). |
|
Aggregateemployee-benefitsofkeymanagementpersonnel |
510,483 |
507,396 |
Numberofhigherpaidemployeesinbandsof:
£60,001to£70,000
£70,001to£80,000
£80,001to£90,000
£100,001to£110,000 |
2023
4
-
1
1 |
2022
4
-
1
1 |
Thenumberwithretirementbenefitsaccruingindefinedbenefit
schemeswas: |
5 |
5 |
ofwhichthecontributionsamountedto |
91,682
|
90,924
|
Teaching
Support |
staff
staff |
2023
100
21 |
2022
99
20 |
|
|
121
|
119
|
StJohn’sCollegeLimited |
Notestothefinancialstatements |
Fortheyearended31August2023 |
7.
Tangiblefixedassets
|
Freehoid
landand
buildings
Motor
velticles
Office
furniture
and
equipment
Computers,
musical
instruments
and
Leasehald
Improve-
ments
AssetsUnder
Construction
Total |
educational |
equipment |
£ |
Costordeemedcost |
At1 September2022
Additions
6,661,327
33,354
78,130
891,913
16,987
1,682,809
103,975
143,060
74,445
9,460,623
228,761
6,694,681
78,130
908,900
1,786,784
217,505
9,689,384
|
Depreciation |
At1 September2022
Chargefortheyear
1,847,084
137,073
78,130
842,103
44,222
1,520,694
173,111
14,306
21,750
4,302,317
376,156
1,984,157
78,130
886,325
1,693,805
36,056
4,678,473
Netbookvalue |
At31August2023
4,710,524
22,575
92,979
181,449
5,010,911
|
At 31August2622
4,814,243
49,810
162,115
128,754
5,158,306
|
Alltangiblefixedassetsareheldforuseoncharitableactivities.Freeholdlandandbuildings includes£187,500(2022:
depreciated.
£187,500)oflandwhichisnot
t& |
27 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
2022 |
|
£ |
£ |
Valueat1 September2022 |
2,110,000 |
1,835,000 |
Disposal |
(920,000) |
- |
Movementsinmarketvalue |
- |
275,000 |
Valueat31August2023 |
1,190,000
|
2,110,000
|
Valueat1 September2023
{nvestmentsdisposedof
incomereinvested
investmentmanagersfees
Fairvalue(loss)/gain
Valueat31August2023 |
2023
£
1,985,406
(164,997)
49,056
(16,930)
(58,461)
1,794,074
|
2022
£
2,362,941
(225,000)
49,074
(19,759)
(181,840)
1,985,406
|
|
|
|
|
2023 |
2022 |
Fixedinterest
Equities
Alternativeassets: |
£
346,475
1,122,725 |
£
293,317
1,250,458 |
Hedgefunds
Propertyfunds |
167,372
80,751 |
212,731
124,928 |
Cash |
1,717,324
76,750 |
1,881,434
103,972 |
Vetal |
1,794,074
|
1,985,406
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Stocksofschoolrequisites |
9,500 |
9,500 |
11. |
Debtors |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Tradedebtors
Otherdebtorsandprepayments |
169,374
84,562 |
108,782
75,679 |
|
253,936
184,461
Includedwithindebtorsisa balanceof£46,208(2022:£18,486)whichisdueingreater
than1 year. |
|
|
|
2023 |
2022 |
|
£ |
£ |
Tradecreditors
Socialsecurityandothertaxation
Accruais
Deferredschoolfees(seenote13) |
81,073
103,428
131,995
2,099,514 |
271,020
116,098
118,504
1,882,292 |
|
2,416,010
|
2,387,914
|
|
2023 |
2022 |
Withinoneyear |
2,099,514
|
£
1,882,292
|
Amountsduewithinoneyearrelatedtofeespaidbeforethe1 Septemberdeadlineforthe
forthcomingterm. |
|
|
nalysisofnetassetsbetweenfunds |
|
|
|
2023 |
2022 |
|
Unrestricted |
Unrestricted |
Tangiblefixedassets
Propertyinvestments
Securitiesinvestments
Currentassets
Cashandcashequivalents
Creditorsdue< 1 year |
£
5,010,911
1,190,000
1,794,074
263,436
1,877,343
(2,416,010) |
£
5,258,306
2,110,000
1,985,406
193,959
1,306,211
(2,387,914) |
|
7,719,754
|
8,365,968
|
Unrestrictedfunds
Balanceat1 September2022
Deficitfortheyear
Realisedrevaluationsurplus
Balanceat31August2023 |
Revaluation
reserve
£
751,347
-
(197,564)
553,783 |
General
reserve
£
7,614,621
(646,214)
197,564
7,165,971 |
| |
Total
£
8,365,968
(646,214)
-
7,719,754 |
|
|
|
|
|
Restrictedfunds |
Balanceat1
September
2022 |
|
Incoming
donations |
Other
resources
expended |
Balanceat
31August
2023 |
Choirdonationsandgifts |
|
-
|
5,000
|
(5,000)
|
-
|
|
2023
£ |
2022
£ |
Revaluationreservebroughtforward
investment
Realisedrevaluationsurplus
Revaluationreservecarriedforward |
751,347
-
(197,564)
553,783
|
483,911
275,900
(7,564)
751,347
|
|
2023 |
2022 |
Withinoneyear
Betweenoneandfiveyears
Afterfiveyears |
£
173,313
598,259
- |
£
157,763
304,271
801 |
|
771,572
|
462,835
|
|
2023 |
|
2022 |
Withinoneyear
Setweenoneandfiveyears |
£
26,925 |
- |
£
30,925
7,000 |
|
26,925
|
|
37,925
|
|
2023 |
2022 |
Otherprovisions |
£ |
£ |
|
|
- |
Movementinprovisions |
|
|
|
2023 |
2022 |
At1 September2022
Provisionrecognisedduringtheyear
Provisionreleasedduringtheyear
At 31August2023 |
£
-
-
-
|
£
335,082
-
(385,082)
-
|
24.
Comparativefiguresbyfundtype |
|
|
|
Yearended34August2022
Incomefrom: |
Unrestricted
£ |
Restricted
£ |
Funds
total
£ |
Charitableactivities
Schoo!feesreceivable |
6,586,730 |
- |
6,586,730 |
Investmentincome |
96,939 |
- |
96,939 |
Donaticnsandlegacies |
654 |
5,000 |
5,654 |
Otherincome |
58,354 |
- |
58,354 |
Totalincomingresources |
6,742,677 |
5,000 |
6,74:7,677 |
Expenditureon: |
|
|
|
Charitableactivities |
|
|
|
Educationandgrant-making |
6,906,697 |
5,000 |
6,911,697 |
Costsof»eneratingfunds |
|
|
|
Investmentmanagementfees |
19,753 |
- |
19,753 |
Totalexpenditure |
6,926,450 |
5,000 |
6,931,450 |
Netincomebeforeinvestments |
(183,774) |
- |
(183,774) |
Investmentgains |
(181,857} |
- |
(181,857) |
Netincc-:me |
(365,631) |
- |
(365,631) |
Gainsonrevaluationoffixedassets |
275,000 |
- |
275,000 |
Netmovementinfunds |
(90,631) |
- |
(90,631) |
Fundbaiancesbroughtforward |
8,456,599 |
- |
8,456,599 |
Fundbalancescarriedforward |
8,365,968
|
a
|
8,365,968 |