#
##
||Page|Page|
|---|---|---|
|Administrative Information|1|— 2|
|Report ofthe Governors|3|— 9|
|Statement of Governors’ Responsibilities||10|
|Independent Auditor’s Report|11|-14|
|Statement of Financial Activities||15|
|Balance Sheet||16|
|Cash Flow Statement||17|
|Notes to the Financial Statements|18—31||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
## _?)_ **Crowe**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MANOR PREPARATORY SCHOOL TRUST**
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non compliance with all laws and regulations.
## **Use of our report**
This report is made solely to the charitable company's members, 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 members 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 members as a body, for our audit work, for this report, or for the opinions we have formed.
**Janette Joyce** Senior Statutory Auditor For and on behalf of **Crowe U.K. LLP** Statutory Auditor
Aquis House 49-51 Blagrave Street Reading RG1 1PL
Date: 26 November 2021
Page 14
##
##
|||||Expendable|||
|---|---|---|---|---|---|---|
||Notes|Unrestricted|Restricted|Endowment|2021|2020|
|||£|£|£|£|£|
||||||Total|Total|
|INCOME FROM:|||||||
|Voluntary sources:|||||||
|Donations||-|13,507|-|13,507|12,353|
|Charitable activities:|||||||
|School fees receivable|4a|5,054,098|-|-|5,054,098|4,539,353|
|Other income|4b|310,942|-|-|310,942|269,971|
|Other trading activities:|||||||
|Letting income||7,306|-|-|7,306|26,615|
|Investments:|||||||
|Bank interest||59|||59|837|
|Government CJRS grant||35,545|||35,545|154,401|
|Total||5,407,950|13,507||5,421,457|5,003,530|
|EXPENDITURE ON:|||||||
|Charitable activities:|||||||
|School operating costs|5|5,322,187|4,976|13,900|5,341,063|5,010,774|
|Raising funds:|||||||
|Financing costs|5|40,947|-|-|40,947|145,142|
|Marketing and advertising|5|45,641|||45,641|94,428|
|Total|5|5,408,775|4,976|13,900|5,427,651|5,250,344|
|NET MOVEMENT IN FUNDS||(825)|8,531|(13,900)|(6,194)|(246,814)|
|FUNDS BROUGHT FORWARD|||||||
|AT 1 AUGUST 2020||5,394,231|50,685|569,900|6,014,816|6,261,630|
|FUNDS CARRIED FORWARD|||||||
|AT 31 JULY 2021||5,393,406|59,216|556,000|6,008,622|6,014,816|
##
||Notes||2021||2020|
|---|---|---|---|---|---|
|||£||£|£|
|FIXED ASSETS
Tangible assets|9|||8,208,880|8,342,206|
|CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand|10|5,331
332,398
196,615|||3,472
246,161
568,578|
|||534,344|||818,211|
|CREDITORS: Amounts falling due
within one year|11|(1,134,598)|||(1,445,598)|
|NET CURRENT LIABILITIES||||(600,254)|(627,387)|
|TOTAL ASSETS LESS CURRENT||||7,608,626|7,714,819|
|LIABILITIES||||||
|CREDITORS: Amounts due after more than|12|||(1,600,004)|(1,700,003)|
|one year||||||
|NET ASSETS||||6,008,622|6Qi4,816|
|FINANCED BY:||||||
|Unrestricted funds||||5,393,406|5,394,231|
|Restricted funds|15|||59,216|50,685|
|Expendable endowmentfunds||||556,000|569,900|
||16|||6,008,622|iQ14 816|
##
##
|||2021||2020|
|---|---|---|---|---|
|||£||£|
|Cash flows from operating activities:|||||
|Net movement in funds||(6,194)||(246,814)|
|Interest receivable||(59)||(837)|
|Interest payable||72,473||70,294|
|Depreciation charge||443,637||430,095|
|Loss on sale of fixed assets||400||-|
|(lncrease)/decrease in stock||(1,859)||(126)|
|(lncrease)/Decrease in debtors||(86,237)||39, 144|
|lncrease/(Decrease) in creditors||51,840||(85,525)|
|Net cash generated by/(used in) operating activities||474,001||206,231|
|Cash flows from investing activities|||||
|Dividends and interest receivable||59||837|
|Purchase oftangible fixed assets||(310,711)||(192,248)|
|Net cash used in investing activities||(310,652)||(191411)|
|Cash flows from financing activities|||||
|Interest payable||(72,473)||(70,294)|
|Repayments of borrowing||(99,999)||(99999)|
|Net cash used in financing activities||(172,472)||(170,293)|
|Change in cash and cash equivalents in the year||(9,123)||(155,473)|
|Cash and cash equivalents at the beginning ofthe year||(142,639)||12,834|
|Total cash and cash equivalents at the end ofthe year|£|(151,762)|£|(142639)|
|Cash and cash equivalents are comprised of|||||
|CashatBank||196,615||568,578|
|Overdraft (note 11)||(348,377)||(711,217)|
|Cash and cash equivalents||(151,762)||(142,629J|
#
##
##
##
##
##
##
##
##
##
##
##
##
##
##
#
##
##
##
##
##
##
##
##
|he Sc|hool’s fee|inco|me comprised:|||
|---|---|---|---|---|---|
|||||2021|2020|
|||||£|£|
|Gross|fees|||5,465,840|4,835,889|
|Less:|Bursaries|and|allowances|(411,742)|(296,536)|
|||||5,054,098|4.539.353|
##
|||||2021|2020|
|---|---|---|---|---|---|
|||||£|£|
|Chargeable|extras|—|income|303,802|264,271|
|Registration|fees|||7,140|5,700|
|||||310,942|269.971|
##
||- 0|||||
|---|---|---|---|---|---|
||Staffcosts|Depreciation|Other|Total|Total|
|||||2021|2020|
||£|£|£|£|£|
|Charitable activities||||||
|School operating costs:||||||
|Teaching costs|2,849,842|226,920|155,619|3,232,381|3,184,739|
|Welfare costs|136,531|-|428,838|565,369|384,325|
|Premises costs|128,298|194,829|315,482|638,609|603,760|
|Supportcosts|471,632|21,888|411,184|904,704|837,950|
||3,586,303|443,637|1,311,123|5,341,063|5,010,774|
|Raising funds||||||
|Bank charges|-|-|2,799|2,799|4,190|
|Interest paid|-|-|72,473|72,473|70,294|
|Bad debt provision|-|-|(34,325)|(34,325)|70,658|
|Marketing and|||45,641|45,641|94,428|
|advertising||||||
||||86,588|86,588|239,570|
|TOTAL RESOURCES||||||
|EXPENDED|3,586,303|443.637|1,397,711|5,427.651|5,250.344|
##
##
|||Staffcosts|Staffcosts|Depreciation|Other|Total
2020|Total
2019|
|---|---|---|---|---|---|---|---|
||||£|£|£|£|£|
||Charitable activities|||||||
||School operating costs:|||||||
||Teaching costs
Welfare costs|2,806,571
134,192||211,368
-|166,800
250,133|3,184,739
384,325|3,234,451
372,224|
||Premises costs||128,614|194,829|280,317|603,760|609,151|
||Support costs||510,324|23,898|303,728|837,950|940,494|
|||3,579,701||430,095|1,000,978|5,010,774|5,156,320|
||Raising funds
Bank charges
Interestpaid
Bad debtprovision
Marketing and||-
-
-|-
-
-|4,190
70,294
70,658
94,428|4,190
70,294
70,658
94,428|2,641
71,595
(7,333)
71,429|
||advertising|||||||
||||||239,570|239,570|138,332|
||TOTAL RESOURCES|||||||
||EXPENDED|3.579,701||430,095|1,240.548|5,250.344|5.294.652|
|6.|NET INCOMING RESOURCES|||||||
|||||||2021|2020|
|||||||£|£|
||Net incoming resources are stated after|||charging:||||
||Depreciation oftangible fixed assets|||||443,637|430,095|
||Auditors’ remuneration|—audit|fees|||12.090|11,740|
|7.|EMPLOYEES|||||||
|a)|The average number of|employees in the||period was:||||
|||||||2021|2020|
|||||||No.|No.|
||Teaching*|||||77|79|
||Support|||||18|18|
||Premises and Welfare|||||18|20|
|||||||113|117|
##
##
##
|taff costs|||
|---|---|---|
||2021|2020|
||£|£|
|Wages arid salaries|2,943,788|2,880,339|
|Social security costs|270,684|251,251|
|Pension costs|371,831|448, 111|
|Total|3,586,303|3.579.701|
|he number of employees whose emoluments|exceeded £60,000 were:||||
|---|---|---|---|---|
||2021||2020||
||No.||No.||
|£60,000-70,000||I||I|
|£120,000-130,000||||I|
##
##
|9.
TANGIBLE ASSETS|9.
TANGIBLE ASSETS||||||
|---|---|---|---|---|---|---|
||Church|Other|Fixtures,||||
||Farm|freehold|fittings,||Assets under||
||(see
note 15)
£|land &
buildings
£|furniture &
equipment
£|Motor
vehicles
£|construction
£|Total
£|
|COST|||||||
|At 1 August 2020
Additions|695,000
-|9,159,558
-|2,969,144
185,062|107,923
-|-
125,649|12,931,625
310,711|
|Disposals|-|-|(2,627)|-||(2,627)|
|At31 July2021|695,000|9,159,558|3,151,579|107,923|125,649|13,239,709|
|DEPRECIATION|||||||
|Ati August2020
Charge for year
Disposals|125,100
13,900
-|2,449,996
180,929
-|1,913,942
244,992
(2,227)|100,381
3816
-|-
-|4,589,419
443,637
(2,227)|
|At31 July2021|||||||
||139,000|2,630,925|2,156,707|104,197||5,030,829|
|NET BOOK VALUE|||||||
|At 31 July 2021|556,000|6,528,633|994,872|3,726|125,649|8.208,880|
|At 31 July 2020|569.900|6.709.562|1.055.202|7542||8.342,206|
|10.
DEBTORS|||||||
||||||2021|2020|
||||||£|£|
|Trade debtors|||||126,563|84,383|
|Other debtors||||||5,587|
|Prepayments|||||205,835|156,191|
||||||332,398|246.161|
##
|CREDITORS: Amounts falling due within one y|ear||
|---|---|---|
||2021|2020|
||£|£|
|Bank Overdraft|348,377|711,217|
|Bank Loans (Note 13)|99,999|99,999|
|Trade creditors|61,363|124,930|
|Accruals and deferred income|335,781|229,782|
|Other tax and social security|68,288|59,309|
|Other creditors|2,690|10,061|
|Acceptance deposits|218,100|210,300|
||1,134,598|1.445.598|
|||2021|2020|
|---|---|---|---|
|||£|£|
||Bank Loans (Note 13)|1,600,004|1,700,003|
|||1,600,004|1,700,003|
|13.|LOANS|||
||An analysis of the maturity of loans is as follows:|2021|2020|
|||£|£|
||Amounts due within one year|99,999|99,999|
||Amounts falling due between one and two years|99,999|99,999|
||Amounts falling due between two and five years|299,999|299,997|
||Amounts falling due after more than five years|1,200,006|1,300,007|
|||1,700,003|1,800.002|
##
|||At 1 August|Cashflow|At 31 July|
|---|---|---|---|---|
|||2020||2021|
|||£|£|£|
|Cash|at bank and in hand|568,578|(371,963)|196,615|
|Bank|overdraft|(711,217)|362,840|(348,377)|
|Bank|loan|(1,800,002)|99,999|(1,700,003)|
|||(1.942.641)|7348D|(1.851,765)|
##
##
|||At||||||At|
|---|---|---|---|---|---|---|---|---|
|Fund name||1 August||Incoming|Resources|||31 July|
|||2020|Resources||expended|||2021|
|||£||£||£||£|
|ManorAssociation of Parents (MAP)||26,528||6,566||(2,187)||30,907|
|SHUS||24,157||6,941||(2,789)||28,309|
|Other restricted funds|||||||||
|Total|£|50.685|£|13,507|£|4.976|£|59,216|
##
##
##
##
##
|estricted funds 2020:|||||||||
|---|---|---|---|---|---|---|---|---|
|||Ati||||||At|
|Fund name||August|Incoming||Resources|||31 July|
|||2019|Resources||expended|||2020|
|||£||£||£||£|
|ManorAssociation ofParents (MAP)||23,105||9,753||(6,330)||26,528|
|SHUS||22,855||2,600||(1,298)||24,157|
|Otherrestricted funds||210||||(210)||-|
|Total|£|46,170|£|12,353|£|(7,838)|£|50.685|
##
|NALYSIS OF NET ASSETS|BETWEEN FUNDS||||
|---|---|---|---|---|
||Expendable||Unrestricted||
||Endowment|Restricted|Other||
||Funds|Funds|Funds|Total Funds|
|2021|£|£|£|£|
|Tangible fixed assets|556,000|-|7,652,880|8,208,880|
|Currentassets|-|59,216|475,128|534,344|
|Current liabilities|-|-|(1,134,598)|(1,134,598)|
|Non-current liabilities||-|(1,600,004)|(1,600,004)|
||556,000|59,216|5,393,406|6.008,622|
||Expendable||Unrestricted||
||Endowment|Restricted|Other||
||Funds|Funds|Funds|Total Funds|
|2020|£|£|£|£|
|Tangible fixedassets|569,900|-|7,772,306|8,342,206|
|Current assets|-|50,685|767,526|818,211|
|Current liabilities|-|-|(1,445,598)|(1,445,598)|
|Non-current liabilities|||(1,700,003)|(1,700,003)|
||569.900|50,685|5,394,231|6.014.816|
##
##
##
|t 31 July 2021 the School had annual commit
ollows;|ments under non-can|cellable op|eratin|g leases|
|---|---|---|---|---|
|||2021||2020|
|||£||£|
|EXPIRY DATE:|||||
|Less than 1 year
Between one and five years||2,726
2,675||417
591|
||£|5401|£|1008|
##
##
##
##
##
##
|||2021|2020|
|---|---|---|---|
|||£|£|
|Financial|assets measured at amortised cost|323,178|658,548|
|Financial|liabilities measured at amortised cost|2,582,247|3,041,417|
|The School’s income. expense. gains and losses in respect of financia
summarised below:|l instruments a|re|
|---|---|---|
||2021|2020|
||£|£|
|Interest income and expense:|||
|Total interest income for financial assets held at amortised cost|59|837|
|Total interest expense for financial liabilities held at amortised cost|(72,474)|(70,294)|
|Impairment (loss)/gain|(34,325)|(70,658)|
##
##
|||||Expendable||
|---|---|---|---|---|---|
||Notes|Unrestricted|Restricted|Endowment|2020|
|||£|£|£|£|
||||||Total|
|INCOME FROM:||||||
|Voluntarysources:||||||
|Donations||-|12,353|-|12,353|
|Charitable activities:||||||
|School feesreceivable|4a|4,539,353|-|-|4,539,353|
|Otherincome|4b|269,971|-|-|269,971|
|Other trading activities:||||||
|Letting income||26,615|-|-|26,615|
|Investments:||||||
|Bank interest||837||-|837|
|Government CJRS grant||154,401|||154,401|
|Total||4,991,177|12,353|-|5,003,530|
|EXPENDITURE ON:||||||
|Charitable activities:||||||
|School operating costs|5|4,989,036|7,838|13,900|5,010,774|
|Raising funds:||||||
|Financing costs|5|145,142|-||145,142|
|Marketing and advertising|5|94,428|||94,428|
|Total|5|5,228,606|7,838|13,900|5,250,344|
|NET MOVEMENT IN FUNDS||(237,429)|4,515|(13,900)|(246,814)|
|FUNDS BROUGHT FORWARD||||||
|AT I AUGUST2019||5,631,660|46,170|583,800|6,261,630|
|FUNDS CARRIED FORWARD||||||
|AT31 JULY2020||5.394.231|50.685|569.900|6.014.816|