Charity registration number 510515
Company registration number 01515144 (England and Wales)
CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 AUGUST 2024
CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr D W Aldred
Mr L G Collins
Mrs S Fletcher
Mrs L Horritt
(Appointed 12 September 2023)
Mr R K Mishra
Mr K Paton-Feaver
Mrs N L Tenhoeve
(Appointed 12 September 2023)
Charity number
510515
Company number
01515144
Registered office
Chetwynd End
Newport
Shropshire
TF10 7JE
Independent examiner
Digital Accountancy Services Limited
69 Emerald Way
Stoke on Trent
Staffordshire
ST6 8HL
CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
CONTENTS
Page
Trustees report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Statement of cash flows
6
Notes to the financial statements
7 - 15
CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 29 AUGUST 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 29 August 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charity's objectives, as set out in its Memorandum and Articles of Association, is to promote and provide for the advancement of education of children. In pursuance of these objects, the charity runs the undertaking known as Haberdashers’ Castle House School, Newport, Shropshire.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Strategic report

Haberdashers’ Castle House School seeks to benefit the public through the pursuit of its stated aims. Our fees are set at a level to ensure the financial viability of the school, at a level that is consistent with our aim of providing a first class education to boys and girls, and at a level to enable access by a wide cross-section of the public as possible.

 

Our bursary policy and social provision for the community contribute to a widening access to the education we offer and the facilities we enjoy.

 

Our school has a close relationship with St Nicholas’ Church in Newport, our services for Remembrance and Harvest are open to both school families and those in the wider community. We support the local Agricultural Society with their annual show through entries to school competitions, and also run food and nutrition presentations for all visitors. We entered a float into the local Newport Carnival, winning second prize. Our school Friends Association organises many events which are open to the wider community, including wreath making workshops and Mothers’ Day tea. Our pupils participated in a sponsored walk for Children in Need.

 

Achievements and performance
Significant activities and achievements against objectives
Financial review

The trustees report a promising year, with a profit of £74,502 (2023: (£75,660)).

 

At the end of the year, the reserves stood at £474,341 (2023: £399,839).

 

All of the reserves held at the year end are represented by the general undesignated fund.

Going concern

The robust strategic framework previously implemented to develop the schools’ offer across both early years and preparatory education has resulted in increased pupil and nursery numbers.

Having considered all factors, the trustees believe that the school will be able to continue operating for the foreseeable future and the financial statements have been prepared on a going concern basis.

Reserves policy

The purpose of the school's reserves is to ensure its stability and ongoing operations. The school building itself services the assets of the charity and needs to be preserved to achieve the charity's objective.

 

As the school building is not available for distribution, it is the policy of the trustees to continue to build up reserves to a level which would allow the school to operate efficiently from its cash balances.

 

CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)
FOR THE YEAR ENDED 29 AUGUST 2024
- 2 -
Structure, governance and management

Castle House School Trust Limited was founded in September 1980, a company limited by guarantee, and not having share capital and is governed by its Memorandum and Articles of Association.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr D W Aldred
Mr L G Collins
Mrs S Fletcher
Mrs L Horritt
(Appointed 12 September 2023)
Mr R K Mishra
Mr K Paton-Feaver
Mrs N L Tenhoeve
(Appointed 12 September 2023)
Recruitment and appointment of trustees

The method of appointing new trustees consists of initial nominations made by present trustees, who are often people linked to the school. The nominations are then discussed, and a vote is taken.

 

The trustees undertake an initial induction process into the workings of the charity, including board policy and procedures, organised for them by the headmaster. The trustees are informed of the specific responsibilities of trustees by the use of the Charity Commissioner publications.

The trustees report, including the strategic report, was approved by the Board of Trustees.

Mr K Paton-Feaver
Trustee
14 April 2025
CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CASTLE HOUSE SCHOOL TRUST LIMITED
- 3 -

I report to the trustees on my examination of the financial statements of Castle House School Trust Limited (the charity) for the year ended 29 August 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Association of Accounting Technicians, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Digital Accountancy Services Limited

Karen Smith MAAT

69 Emerald Way
Stoke on Trent
Staffordshire
ST6 8HL
Dated: 14 April 2025
CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 29 AUGUST 2024
- 4 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
-
1,009
1,009
-
-
-
Charitable activities
4
995,797
-
995,797
632,304
-
632,304
Total income
995,797
1,009
996,806
632,304
-
632,304
Expenditure on:
Charitable activities
5
922,304
-
922,304
709,546
-
709,546
Total expenditure
922,304
-
922,304
709,546
-
709,546
Net income/(expenditure)
73,493
1,009
74,502
(77,242)
-
(77,242)
Transfers between funds
1,009
(1,009)
-
1,582
(1,582)
-
Net movement in funds
74,502
-
74,502
(75,660)
(1,582)
(77,242)
Reconciliation of funds:
Fund balances at 30 August 2023
399,839
-
399,839
475,499
1,582
477,081
Fund balances at 29 August 2024
474,341
-
474,341
399,839
-
399,839

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
BALANCE SHEET
AS AT
29 AUGUST 2024
29 August 2024
- 5 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
9
710,912
712,920
Current assets
Debtors
10
102,318
102,081
Cash at bank and in hand
141,453
33,577
243,771
135,658
Creditors: amounts falling due within one year
12
(371,565)
(315,029)
Net current liabilities
(127,794)
(179,371)
Total assets less current liabilities
583,118
533,549
Creditors: amounts falling due after more than one year
13
(108,777)
(133,710)
Net assets
474,341
399,839
The funds of the charity
Unrestricted funds
16
474,341
399,839
474,341
399,839

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 29 August 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 14 April 2025
Mr K Paton-Feaver
Trustee
Company registration number 01515144 (England and Wales)
CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 29 AUGUST 2024
- 6 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
18
159,106
37,206
Investing activities
Purchase of tangible fixed assets
(2,884)
(3,088)
Net cash used in investing activities
(2,884)
(3,088)
Financing activities
Repayment of bank loans
(25,230)
(25,265)
Net cash used in financing activities
(25,230)
(25,265)
Net increase in cash and cash equivalents
130,992
8,853
Cash and cash equivalents at beginning of year
10,461
1,608
Cash and cash equivalents at end of year
141,453
10,461
Relating to:
Cash at bank and in hand
141,453
33,577
Bank overdrafts included in creditors payable within one year
-
(23,116)
CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 AUGUST 2024
- 7 -
1
Accounting policies
Charity information

Castle House School Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Chetwynd End, Newport, Shropshire, TF10 7JE.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 AUGUST 2024
1
Accounting policies
(Continued)
- 8 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
0%
Fixtures and fittings
25% reducing balance
Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

No depreciation is provided on freehold properties as it is the charity's practice to maintain these assets in a continual state of sound repair. Accordingly, the trustees consider that the lives of these assets are so long and residual values are so high that depreciation is insignificant.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 AUGUST 2024
1
Accounting policies
(Continued)
- 9 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 AUGUST 2024
- 10 -
3
Income from donations and legacies
Restricted
Restricted
funds
funds
2024
2023
£
£
Donations and gifts
1,009
-
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Fees receivable
Income from charitable activities
983,569
608,462
School trip income
Income from charitable activities
9,912
10,710
Miscellaneous income
Income from charitable activities
2,316
13,132
995,797
632,304
CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 AUGUST 2024
- 11 -
5
Expenditure on charitable activities
Unrestricted funds
Unrestricted funds
2024
2023
£
£
Direct costs
Staff costs
696,775
544,084
Depreciation and impairment
4,892
4,831
Rates and insurance
36,692
26,611
Heat and light
17,113
24,077
Office costs
34,226
10,999
Repairs and equipment hire
15,222
14,525
Licence fees
19,760
-
Miscellaneous expenses
2,938
6,422
Food and drink
36,679
26,982
School trips
9,581
10,792
Bank charges
958
1,259
Interest payable
13,377
13,843
Teaching and nursery resources
3,201
2,644
Motor and travel
13,155
5,645
Advertising
46
2,051
Charitable donations
1,094
1,789
Professional fees, health and safety and subscriptions
16,595
12,992
922,304
709,546
Analysis by fund
Unrestricted funds
922,304
709,546
6
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
30
24
CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 AUGUST 2024
7
Employees
(Continued)
- 12 -
Employment costs
2024
2023
£
£
Wages and salaries
604,300
464,019
Social security costs
45,706
34,755
Other pension costs
33,874
32,633
683,880
531,407
8
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

9
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 30 August 2023
701,460
117,904
8,757
828,121
Additions
-
2,279
605
2,884
At 29 August 2024
701,460
120,183
9,362
831,005
Depreciation and impairment
At 30 August 2023
-
109,978
5,223
115,201
Depreciation charged in the year
-
2,551
2,341
4,892
At 29 August 2024
-
112,529
7,564
120,093
Carrying amount
At 29 August 2024
701,460
7,654
1,798
710,912
At 29 August 2023
701,460
7,926
3,534
712,920
10
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
88,938
102,081
Prepayments and accrued income
13,380
-
102,318
102,081
CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 AUGUST 2024
- 13 -
11
Loans and overdrafts
2024
2023
£
£
Bank overdrafts
-
23,116
Bank loans
133,746
158,976
133,746
182,092
Payable within one year
24,969
48,382
Payable after one year
108,777
133,710
12
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans and overdrafts
11
24,969
48,382
Other taxation and social security
72,804
87,819
Deferred income
14
207,826
163,750
Trade creditors
25,710
2,718
Other creditors
11,123
2,200
Accruals
29,133
10,160
371,565
315,029
13
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans
11
108,777
133,710
14
Deferred income
2024
2023
£
£
Other deferred income
207,826
163,750

Deferred income is included in the financial statements as follows:

CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 AUGUST 2024
14
Deferred income
(Continued)
- 14 -
2024
2023
£
£
Deferred income is included within:
Current liabilities
207,826
163,750
Movements in the year:
Deferred income at 30 August 2023
163,750
77,768
Released from previous periods
(163,750)
(77,768)
Resources deferred in the year
207,826
163,750
Deferred income at 29 August 2024
207,826
163,750
15
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
33,874
32,633

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

16
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 30 August 2023
Incoming resources
Resources expended
Transfers
At 29 August 2024
£
£
£
£
£
General funds
399,839
995,797
(922,304)
1,009
474,341
Previous year:
At 30 August 2022
Incoming resources
Resources expended
Transfers
At 29 August 2023
£
£
£
£
£
General funds
475,499
632,304
(709,546)
1,582
399,839
17
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

CASTLE HOUSE SCHOOL TRUST LIMITED
HABERDASHERS' CASTLE HOUSE SCHOOL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 AUGUST 2024
- 15 -
18
Cash generated from operations
2024
2023
£
£
Surplus/(deficit) for the year
74,502
(77,242)
Adjustments for:
Depreciation and impairment of tangible fixed assets
4,892
4,831
Movements in working capital:
(Increase) in debtors
(237)
(19,159)
Increase in creditors
35,873
42,794
Increase in deferred income
44,076
85,982
Cash generated from operations
159,106
37,206
19
Analysis of changes in net funds/(debt)
At 30 August 2023
Cash flows
At 29 August 2024
£
£
£
Cash at bank and in hand
33,577
107,876
141,453
Bank overdrafts
(23,116)
23,116
-
10,461
130,992
141,453
Loans falling due within one year
(25,266)
297
(24,969)
Loans falling due after more than one year
(133,710)
24,933
(108,777)
(148,515)
156,222
7,707
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