2021-03-31-accounts - Capitb Trust

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EXPENDITURE ACCOU	N	T)	F	OR T	HE YEAR	ENDED 3	1 MARCH 2021
							Unrestricted	Total Funds	Total Funds
							Funds	2021	2020
									6
						Notes
INCOMEFROM									(All unrestricted)
Activities for raising funds
Subsidiaries non-charitable	trading		turnover				1,926,941	1,926,941	2,744,321
Otherincome							117,359	117,359
Investment income
Income from listed investments							65,925	65,925	67,339
Income from bank interest									2,584
Total income							2,110,225	2,110,225	2,814,244
EXPENDITURE ON
Costs ofraising funds
Subsidiaries non-charitable	trading		expenditure				2,168,737	2,168,737	2,959,864
Charitable activities							65,613	65,613	257,796
Other resources expended							18,431	18,431	27,079
Total expenditure							2,252 781	2 252 781	3244 739
Net income/(expenditure) for the year				before tax			(142,556)	(142,556)	(430,495)
Tax on non-charitable trading	subsidiaries'				ordinary
activities							28,973	28,973
Net expenditure attributable		to the		group	before
other recognised gains and losses							(113,583)	(113,583)	(430,495)
Unrealised gain on fixed asset		revaluation
Unrealised (loss)/gain on investment				assets		11	290 121	290,121	(184,305)
Net movement In group funds							176,538	176,538	(614,800)
Group funds brought forward							2,471 487	2471,487	3,086,287
Group funds carried forward							2,648,025	2,648,025	2,471,487

31 MARCH 2021
			Unrestricted	Total Funds	Total Funds
			Funds	2021	2020
				8	6
		Notes
FIXEDASSETS
Investments		11	2,739,804	2,739,804	2,565,147
			2,739,804	2,739,804	2,565,147
CURRENT ASSETS
Debtors		12	6,268	6,268	15,246
Cash at bank and in hand			44 736	44,736	41,647
			51,004	51,004	56,893
CREDITORS: AMOUNTS	FALLING DUE WITHIN 0	13	(142,783	(142,783	(150,553)
NET CURRENT LIABILITIES			91779)	91,779)	(93660)
NET ASSETS			2,648,025	2,648,025	2,471,487
THE FUNDS OF THE CHARITY
Unrestricted income funds		18	2,119,965	2,119,966	2,138,085
Revaluation funds		18	528,059	528,059	333,402
TOTAL CHARITY FUNDS			2,648,025	2,648,025	2,471,487

31 INARCH 2021
			Unrestricted	Total Funds	Total Funds
			Funds	2021	2020
			f	f	f
		Notes
FIXEDASSETS
Intangible assets		9	20,215	20,215	37,730
Tangible assets		10	1,210,836	1,210,836	1,247,301
Investments		11	1 740 327	1 740,327	1 470 206
			2,971,378	2,971,378	2,755,237
CURRENT ASSETS
Stock			21,896	21,896	22,488
Debtors		12	512,932	512,932	411,254
Cash at bank		23	146,307	146,307	46,343
			681,135	681,135	480,085
CREDITORS: AMOUNTS	FALLING DUE WITHIN ONE YEAR	13	754,488)	754,488	(763,834)
NET CURRENT ASSETS			73354	73353)	(283750
TOTAL ASSETS LESSCURRENT LIABILITIES			2,898,025	2,898,025	2,471,487
CREDITORS: AMOUNTS	FALLING DUE AFTER MORE THAN ONE
YEAR			250,000	(250,000
PROVISIONS FOR LIABILITIES
NET ASSETS			2,648,025	2,648,025	2,471,487
THE FUNDS OF THE GROUP
Unrestricted income funds		18	2,129,295	2,129,295	2,237,196
Revaluation funds		18	518,730	518,730	234,291
TOTAL GROUP FUNDS			2,648,025	2,648,025	2,471,487

								2021	2020
								8	8
							Notes
CASH FLOWS FROM		OPERATING	ACTIVITIES				22	(102,453)	(84,571)
CASH FLOWS FROM		INVESTING	ACTIVITIES
Dividend	income							65,925	67,339
Interest received									2,584
Proceeds	from the sale ofproperty,		plant and equipment					2,900
Purchase	ofproperty,	plant and equipment						(16,190)	(26,243)
Purchase	ofintangible	assets						(16,800)
Proceeds	from sale of	investments						20,000	115,000
Purchase	of investments								(150,000)
NET CASH PROVIDED BY(USED			IN) INVESTING		ACTIVITIES			55,835	8,680
CASH FLOWS FROM		FINANCING	ACTIVITIES
Capital element ofhire		purchase repayments						(8,370)	(11,076)
Proceeds	ofnew bank	loans						250,000
NET CASH PROVIDED BY(USED			IN) FINANCING		ACTIVITIES			241,630	(11,076)
CHANGE	IN CASH AND CASH EQUIVALENTS			IN	THE	REPORTING	PERIOD	195,012	(86,967)
Cash and	cash equivalents at beginning ofthe reporting					period	23	(48,705)	38,262
Cash and	cash equivalents at end		ofthe reporting		period		23	146,307	(48,705)

		2021	2020
1	INVESTMENT INCOME		6
	UK quoted Investments	65,925	67,339
	Bank interest received		2,584
		65,925	69,923

			2021	2020
			6	5
Grants paid in	the year		56,633	39,741
Add Closing Grant Creditor			129,500	143,553
Less Opening	Grant Creditor		(143,553)	(47,475)
Net Grants			42,580	135,819
Other resources expended			18,431	27,079
Governance Costs (See note 3)			23,033	121,977
			84,044	284,875
			2021	2020
			6
Grants paid to	institutions		56,633	39,741
Grants paid to	individuals
			56,633	39,741
			2021	2020
Grants aid toinsiui		n	5	5
Simone Radway				720
Cavies &Son				8,000
UKFT			27,250	21,250
Central Style				1,255
Hirsch Tailoring				2,500
Tailoring Academy			17,933	4,166
John Smedley				1,850
Caramel Rock			5,000
Cockpit Arts			4,000
Leicester Fashion &Textiles Academy			800
Sapheda			1,650
			56,633	39,741

F	OR THE YEA	R EN	D	ED 31 MARCH 2021
						2021	2020
3	GOVERNANCE COSTS					8	6
	Legal and professional			fees		15,965	117,977
	Auditor's remuneration					7,000	4,000
	Bank charges					68
						23,033	121977
						2021	2020
4	OTHER RESOURCES			EXPENDED		6	6
	Grant administration		costs			15,000	15,000
	Network, website &support costs					319
	Establishment	expenses				1,404	1,404
	Travel 8 subsistence					351	6,716
	Unrecoverable	VAT
	Sundries					1,045	1,185
	Advertising					312	2,774
						18,431	27,079
5	ANALYSIS OF	STAFF COSTS, TRUSTEE REMUNERATION			AND EXPENSES,	AND THE COST OF KEY
	MANAGEMENT	PERSONNEL
						2021	2020
						6	8
	Salaries and wages					701,096	858,206
	Social security	costs				79,761	84,736
	Pension costs					37,269	41,002
						818,128	983,944


The number ofemployees	whose annual	remuneration	was F60,000or more were:	2021	2020
660,000 —570,000				2	2
670,000 - F80,000
580,000 - 690,000
F90,000 - Bt00,000					1
				3	3

	The average number ofstaff employed	The average number ofstaff employed	The average number ofstaff employed	the financial year amounted	to:
					2021	2020
	Number ofadministrative	staff			18	21
	Number ofmanagement	staff			9	10
	Number oftraining staff				3	5
					30	36
					2021	2020
7	NET INCOME/(EXPENDITURE)		FOR THE YEAR			6
	This is stated after charging:
	Depreciation ofowned fixed assets				52,656	51,982
	Depreciation of intangible	assets			34,316	30,582
	Cost ofStock recognised	as an expense		554,371		890,593
	Profit on disposal offixed	assets			(2,900)
	Auditors' remuneration
	-audit services				7,000	9,950
	-services to associated pension		schemes
	-non audited services				8,105	3,550

Group	Other
	Intangibles
Cost or valuation
Balance brought forward	91,747
Additions	16,800
At 31 March 2021	188,5
Amortisation and impairment
Balance brought forward	54,017
Charge for the year	34,315
At 31 March 2021	88,332
Net book value
At 31 March 2021	20,215
At 31 March 2020	33

Group							Freehold
							land S	Fixtures 8				Motor
							buildings E		Fittings 6		Vehicles f			Total 6
Cost or valuation
Balance brought		forward					1,255,592			297,274		192,542			1,745,408
Additions										16,190					16,190
Disposals												(14,286)			14286
At 31 March 2021							1,255,592			313,464		178,256			1,747,312
Depreciation
Balance brought	forward						96,600			271,739		129,767			498,107
Charge for the year							20,700			16,450			15,505		52,655
Disposals													14,286		(14286)
At 31 March 2021							117,300			288,189		130,986			536,476
Net book value
At 31 March 2021							1,138,292			25,274			47,270		1,210,836
At 31 March 2020							1,158,992			25,535			62,775		1,247,301
The charity does		not hold	any	tangible		fixed assets in the current or			previous period.
Included in the cost offreehold				land	and buildings is freehold			land of		F215,000(2020-F215,000)which
is not depreciated,
Barclays Security		Trustee	Limited holds a fixed and floating charge						over the assets				in CapitB Limited and a firs
and floating charge over the freehold					property		of RTITB Ltd in	respect ofthe current					credit facility	of	5500,000.
The ITBPension		Fund holds a		second		fixed and floating charge over				the freehold	property of RTITB Ltd in
respect ofthe Section 75			contingent		liability.		Details ofthe liability are disclosed				in	note 16.
In respect ofassets stated			at valuations,			the	comparable historical cost and depreciation values are								as
							GROUP						CHARITY
							2021		2020			2021		2020
							E			6			E		6
Net book value at		end ofyear					1,138,292		1,158,992
Historical cost							903,406			903,406
Historical cost depreciation
At 1 Apdil 2020							276,186			262,161
Charge for year							14,025			14,025
At 31 March 2021							290,211			276,186
Net historical cost		value:
At 31 March 2021							613,195			627,220
At 1 April 2020							627,220			641,245

				UK quoted	UK	Total
				investments	portfolio	5
				6	cash
					6
Group
Valuation	at 1 April 2020			1,470,206		1,470,206
Additions
Disposals				(20,000)		(20,000)
Net investment		gain/(loss)		290,121		290,121
Valuation	at 31 March 2021			1,740,327		1,740,327
			UK	UK quoted	UK	Total
			subsidiary	investments	porffolio
			undertakings	6	cash
			E		6
Charity
Valuation	at 1 April 2020		1,094,941	1,470,206		2,565,147
Additions
Disposals				(20,000)		(20,000)
Net investment		gain/(loss)	(95,464)	290,121		194,657
Valuation	at 31 March 2021		999,477	1,740,327		2,739,804


Name ofcompany	Company	No.	Registered	Class of	'/o Held
			office	shares held
CAPITB Limited	02476398		UK	Ordinary	100 '/0
RTITB Limited	03671395		UK	Ordinary	100 '/o

			2021	2020
CAPITB Limited
			K
Summary profit and loss account
Turnover			1,866,986	2,606,867
Cost ofsales			(837,849)	(1,293,536)
Gross profit			1,029,137	1,313,331
Administrative expenses			(1,228,639)	(1,322,432)
Other operating income			109,258	675
Operating (loss)/profit			(90,244)	(8,426)
Interest payable
(Loss)/profit before taxation			(90,244)	(8,426)
Taxation			28,973
Retained (loss)/profit			61,271	8,426
Aggregate amount ofcapital and	reserves		785,610	846,881
			2021	2020
RTITBLimited			8	8
Summary profit and loss account
Turnover
Cost ofsales			20,700)	(20,700)
Gross profit			(20,700)	(20,700)
Administrative expenses			(8,595)	(8,588)
Other operating income			8,101
Operating (loss)/profit			(21,194)	(29,288)
Interest payable
Loss before taxation			(21,194)	(29,288)
Taxation
Retained loss			(21,194)	(29,288)
Unrealised surplus on revaluation	oftangible	fixed assets
Total recognised gains and losses relating to		the year	(21,194)	(29,288)
Aggregate amount ofcapital and reserves			702,900	724,094

Talent in Logistics	Ltd			2021	2020
Summary profit and	loss account
Turnover				59,952	136,779
Cost ofsales				(20,643)	(126,230)
Gross profit				39,309	10,549
Administrative expenses				(52,308)	(188,378)
Operating (loss)/profit				(12,999)	(177,829)
Interest payable
Loss before taxation				(12,999)	(177,829)
Taxation
Retained loss				(12,999)	(177,829)
Unrealised surplus	on revaluation	oftangible	fixed assets
Total recognised gains and losses relating to			the year	(12,999)	(177,829)
Aggregate amount ofcapital and reserves				(489,033)	(476,034)

DEBTORS
				GROUP		CHARITY
				2021	2020	2021	2020
				6	8
Trade debtors				414,350	366,864
Corporation tax recoverable				28,973
Amounts owed by group		undertakings				6,268	15,246
Other debtors				69,609	44,390
Deferred tax
				512,932	411,254	6,268	15,246
CREDITORS: Amounts		falling	due within one	year
				GROUP		CHARITY
				2021	2020	2021	2020
				f	8
Bank loans and overdraft					95,048
Trade creditors				132,543	224,238
Obligations under hire	purchase		agreements		8,370
Amounts owed to group		undertakings
Other taxation and social		security	costs	185,973	119,451
Accruals and deferred	income			300,148	173,174	7,000	7,000
Other creditors				135,824	143,553	135,783	143,553
				754,488	763,834	142,783	150,553
The following liabilities	disclosed		under creditors	falling due within one year are	secured:
				GROUP		CHARITY
				2021	2020	2021	2020
				5	8		8
Bank loans and overdraft					95,048
Obligations under hire	purchase		agreements		8,370
					103,418

						GROUP	CHARITY
						8	8
Balance	as at 1 April 2020					30,107
Amount	released	to subsidiaries	non-charitable	trading	turnover	(30,I07)
Amount	deferred	in the the year				231,089
Balance	as at 31	March 2021				231,089

Normal rate of return		5 99'/o
Rate ofprice inflation		3.40'/o
Rate ofgeneral (inflationary)	salary growth	4.95'/o
Real rate of return in excess	ofRPI	2.50'/o
Real rate of return in excess	ofsalaries	0.99'/o

							General	Non	Revaluation	Total
							Funds	Charitable	Funds	Funds
							f	Trading	6	6
								Funds
								6
Group
Tangible fixed assets								712,321	518,730	1,231,051
Investment	fixed assets						1,740,327			1,740,327
Net current	(liabilities)/assets						(91,779)	18,426		(73,353)
Long term	liabilities						(250,000)			(250,000)
Provisions
Total unrestricted		funds					1,398,548	730,747	518,730	2,648,025
									General	Total
									Funds	Funds
									6	6
Charity
Investment	fixed assets								2,739,804	2,739,804
Net current	assets								(91,779)	91,779
Total unrestricted		funds							2,648,025	2,648,025
FUNDS
UNRESTRICTED		FUNDS
			At	1 April		Incoming	Outgoing	(Loss)/Gain	Transfer	At 31 March
				2020 6		Resources f	Resources E	nit Investments	between funds	2021
GROUP
General funds			2,237,		196	2,110,225	(2,223,808)		5,682	2,129,295
Revaluation	funds		234,291					290,121	5,682	518,730
			2,471,487			2,110,225	(2,223,808)	290,121		2,648,025
CHARITY
General funds			2,138,085			65,925	(84,044)			2,119,966
Revaluation	funds		333,402					194,657		528,059
			2,471,487			65,925	(84,044)	194,657		2,648,025

					2021	2020
						K
	Consolidated statement		offinancial	activities:
	Net movement in group funds				176,538	(614,800)
	Add back depreciation		charge		86,970	82,564
	Investment Income				(65,925)	(67,339)
	Interest receivable					(2,584)
	Taxation credited				(28,973)
	Unrealised loss/(gain)		on investments		(290,121)	184,305
	Unrealised gain on fixed assets
	Profit on disposal oftangible fixed assets				(2,900)
	Decrease/(increase)	in	stock		592	(3,445)
	Decrease/(increase)	in	debtors		(72,705)	234,658
	(Decrease)/increase	in	creditors		94,071	102,070
	Net Cash used in operating activities				(102,453)	(84,571)
23	ANALYSIS OF CASH		AND CASH EQUIVALENTS		2021	2020
	Cash in hand and at bank				146,307	46,343
	Bank overdraft					(95,048)
	Bank Loan				(250,000)
					(103,693)	(48,705)