2020-08-31-accounts - Northern Consortium

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Trustees' Report	Trustees' Report			1 to 8
Statement of	Trustees'	Responsibilities
Independent	Auditors'	Report		10to 13
Consolidated	Statement of Financial		Activities	14to 15
Statement of	Financial	Activities		16to 17
Consolidated	Balance	Sheet		18
Balance Sheet				19
Consolidated	Statement ofCash Flows			20
Statement of	Cash Flows			21
Notes to the	Financial	Statements		22 to 42

The i	nformati	on below repr	esents	the year ended	31August 20	20
					Designated
					Pension	Total
			Note	Unrestricted f	Unrestricted f	2020f
Income and Endowments		from:
Investment income			4	21,538		21,538
Other income			5	5,083,082		5,083,082
Total Income				5,104,620		5,104,620
Expenditure on: Charitable activities			6	~4,7)4,764)		~4,7)4,764
Total Expenditure Tax payable on trading activities			9	(4,714,764) ~)78„055		(4,714,764) ~76.055)
Net income				313,801		313,801
Other recognised	gains and losses
Actuarial gains on schemes	defined	benefit pension			~66,327	~66,327)
Net movement in funds				313,801	(66,327)	247,474
Reconciliation of	funds
Total funds brought	forward			3,098,013	~319,129)	2,778,884
Total funds carried	forward			3,411,814	(385,456)	3,026,358

						Designated
						Pension	Total
					Unrestricted	Unrestricted	2019
				Note	K	E
Income and Endowments			from:
Investment income				4	21,957		21,957
Other income				5	4,402,391		4,402,391
Total Income					4,424,348		4,424,348
Expenditure on:
Charitable activities				6	~(4,439.533		(4,439,633)
Total Expenditure Tax payable on trading		activities		9	(4,439,633) ~(64,500		(4,439,633) ~lB4,500
Net expenditure					(79,785)		(79,785)
Other recognised	gains and losses
Actuarial gains on	defined		benefit pension
schemes						284,219	284,219
Net movement in funds					(79,785)	284,219	204,434
Reconciliation of	funds
Total funds brought	forward				3.(77,798	~603.348	2,574,450
Total funds carried	forward			16	3,098,013	(319,129)	2,778,884

					Designated
					Pension	Total
			Note	Unrestricted 8	Unrestricted	2020f
Income and Endowments		from:
Investment income				9,785		9,785
Total Income				9,785		9,785
Expenditure on: Charitable activities			6	~156,4(2)		~(66,4(2
Tote I Expenditure				~166,412)		~(166,412
Net expenditure				(156,627)		(156,627)
Other recognised	gains and losses
Actuarial gains on schemes	defined	benefit pension			~16,945)	(16,945)
Net movement in funds				(156,627)	(16,945)	(173,572)
Reconciliation of Total funds brought	funds forward			2264218	~21,679)	2242539
Total funds cardied	forward		16	2,11)7,591	~38„624	2,668,967

					Designated
					Pension	Total
				Unrestncted	Unrestricted	2019
			Note	6	6
Income and Endowments		from:
Investment income			4	330,582		330,582
Total Income				330,582		330,582
Expenditure on: Charitable activities			8	~(311,3ll8		~311,308
Total Expenditure				~311,308)		(311,308)
Net income				19,274		19,274
Other recognised	gains and losses
Actuarial gains on schemes	defined	benefit pension			58,461	58,461
Net movement in funds				19,274	58,461	77,735
Reconciliation of	funds
Total funds brought	forward			2,244, 944	(80,140)	2,164,804
Total funds carried	forward		16	2,264,218	(21,679)	2,242,539

					2020	2019
				Note
Fixed assets
Tangible assets				10	24,546	67,476
Current assets
Debtors				12	332,076	509,948
Cash at bank and	in hand				4,792,804	3,847,742
					5,124,880	4,357,690
Creditors: Amounts		falling due within one year		13	(1,733,250)	~(„307,822
Net current assets					3,391,630	3,050,068
Total assets less	current liabilities				3,416,176	3,117,544
Provisions					(4,362	19,531)
Net assets excluding		pension	liability		3,411,814	3,098,013
Pension scheme	liability			15	~(385,456	(319,129
Net assets including		pension	liability		3,026,358	2,778,884
Funds ofthe Group:
unrestricted income		funds
Unrestricted funds					3,026,358	2,778,884
Total funds					3,026,358	2,778,884

	Ba	g lance Sheet as at 3	1August	2020
				2020	2019
			Note	6
Fixed assets
Investments				1,256,001	1,256,001
Current assets
Cash at bank and in hand				908,347	1,303,503
Creditors: Amounts	falling due within one year		13	~56,757)	~285,286)
Net current assets				851,590	1,008,217
Net assets excluding pension Pension scheme liability		liability	15	2,107,591 ~38,I!24]	2,264,218 (21,679)
Net assets including	pension	liability		2,068,967	2,242,539
Funds ofthe Charity:
Unrestricted income	funds
Unrestricted funds				2,068,967	2,242,539
Total funds				2,068,967	2,242,539

Consolidated Stateme	nt	ofCash	Flow	s for th	e Yea	r Ended 31 Augu	st 2020
						2020	2019
							6
Cash flows from operating activities
Net movement in funds						247,474	204,434
Tax refund/(paid) by subsidiary						(64,485)
Adjustments to cash flows from Depreciation		non-cash	items			38,985	52,326
Investment income						(21,538)	(21,957)
Corporation tax charge						91,224	64,500
						291,660	299,303
Working capital adjustments
Decrease in debtors					12	177,872	202,420
Increase in creditors					13	398,889	308,937
Decrease (increase) in retirement actuarial changes Decrease in provisions		benefit obligation		net of	15	66,327 ~(15.169	(284,219)
Net cash flows from operating	activities					919,579	526,441
Cash flows from investing activities
interest receivable and similar	income				4	21,538	21,957
Purchase oftangible fixed assets					10	(7,887)	(8,489)
Sale oftangible fixed assets						11,832
Net cash flows from investing	activities					25,483	13,468
Net increase in cash and cash	equivalents					945,062	539,909
Cash and cash equivalents at	1 September					3,847,742	3,307,833
Cash and cash equivalents at	31	August				4,792,804	3,847,742

						2020	2019
					Note	5	K
Cash flows from operating	activities
Net cash (expenditure)/income						(173,572)	77,735
Adjustments to cash flows	from non-cash		items
Investment income						(9,785)	(330,582)
						(183,357)	(252,847)
Working capital adjustments
Decrease in debtors					12		756,000
(Decrease)/increase in creditors					13	(238,529)	152,243
Decrease (increase) in retirement benefit obligation				net of
actuarial changes					15	16,945	(58,461)
Net cash flows from operating	activities					(404,941)	596,935
Cash flows from investing	activities
Interest receivable and similar income						9,785	8,055
Acquisition ofinvestments in	subsidiary	undertakings					(756,000)
Gift aid from subsidiary							322,527
Net cash flows from investing	activities					9,785	(425,418)
Net (decrease)/increase in cash and cash equivalents						(395,156)	171,517
Cash and cash equivalents at 1 September						1,303,503	1,131,986
Cash and cash equivalents at 31 August						908,347	1,303,503

4 Investment in	co	me
			Unrestricted	Group		Charity
				Total	Total	Total	Total
			General	2020	2019 f	2020 f	2019 K
Interest receivable	and
similar income;
Interest receivable		on
bank deposits			21,538	21,538	21,957	9,785	8,055
Gift aid payments group undertakings	from						322,527
			21,538	21,538	21,957	9,785	330,582

5 Other inc	ome
			Unrestricted
			funds	Total	Total
			General	2020f	2019 K
Income from	trading	subsidiary	5,051,542	5,051,542	4,402,391
Government	grants	receivable	31,540	31,540
			5,083,082	5,083,082	4,402,391

6 Expenditure	o	n charit	able activit	ies
					Unrestricted
						Total	Total
					General	2020	2019
				Note	6	6	6
Cost oftrading	activites		(NCUK)
Cost ofsales					656,376	656,376	609,135
Employment costs					2,308,931	2,308,931	1,993,315
Establishment	costs				127,851	127,851	151,131
General admin	expenses				1,395,821	1,395,821	1,315,539
Finance charges					8,556	8,556	6,879
Depreciation and profit / loss on disposal					50,817	50,817	52,326
					4,548,352	4,548,352	4,128,325
Charitable activites
Central salaries							3,904
Bank charges					20	20	18
Rent							2,138
Office expenses					2,321	2,321	1,083
Scholarships and project
development					107,230	107,230	210,265
					109,571	109,571	217,408
Governance costs
Staff costs					42,602	42,602	57,557
Auditors' remuneration					7,265	7,265	6,626
Legal fees					3,488	3,488	21,342
Other governance		costs			3,486	3,486	8,375
					56,841	56,841	93,900
					4,714,764	4,714,764	4,439,633

Notes to the Financial Statements f	or the Year Ended 31 August	2020
	2020	2019
Charity Audit fees	K 3,670	3,495
Statutory accounts production		3,130

8 Staff costs The aggregate payroll costs were	as follows:
	Group 2020	2019	2020 Charity	2019
				K
Staffcosts during the year
were:
Wages and salaries	1,978,867	1,782,833	42,602	61,461
Social security costs	166,121	128,000
Pension costs	206,545	143,943
	2,351,533	2,054,776	42,602	61,461

	Group			Charity
2020		2019	2020		2019

income and tax charges	gains provided that they are applied for char have arisen in the trading subsidiary:	itable purposes only. However, t	he following
		Group
		2020	2019
Current Tax		6	6
Corporation	tax charge	91,300	64,500
Deferred Tax Origination and reversal of timing differences		~16„169
		76,131	64,500

Group
	Fixtures,
	fittings and
	equipment	Total
Cost
At 1 September 2019	260,311	260,311
Additions	7,887	7,887
Disposals	(80.0114)	~BD,004
At 31 August 2020	188,194	188,194
Depreciation
At 1 September 2019	192,835	192,835
Charge for the year Eliminated on disposals	38,985 ~68.(72)	38,985 ~(68,(72
At 31 August 2020	163,648	163,648
Net book value
At 31 August 2020	24,546	24,546
At 31 August 2019	67,476	67,476

Charity
					2020	2019
					6
Shares in group undertakings	and participating		interests		1,256,001	1,256,001
Shares in Group undertakings		and participating		interests
					Subsidiary
					undertakings	Total
Cost
At 1 September 2019					1,256,001	1,256,001
At 31 August 2020					1,256,001	1,256,001
Net book value
At 31 August 2020					1,256,001	1,256,001
At 31 August 2019					1,256,001	1,256,001

		Country	of		Proportion ofvoting	Proportion ofvoting	Principal
Undertaking		incorporation		Holding	rights and shares held		activity
					2020	2019
Subsidiary	undertakings
Northern Consortium UK Limited		England Wales	and	Ordinary	100%	100%	Educational services
Northern Consortium		UK Limited's	company	number	is 04642064.

Aggregate financial	information
		2020	2019
		f
Aggregate assets and liabilities		2,228,361	1,804,514
Total income		5,083,082	4,402,391
Total expenditure		(4,583,179)	(3,884,875)
Profit I(Loss) for the	year	499,903	517,516

12Debtors
		Group 2020f	2019 8	2020 Charity	2019
Trade debtors		310,206	449,728
Other debtors		21,870	60,220
		332,076	509,948
13Creditors:	amounts	falling due within one year
		Group 2020	2019	2020 Charity	2019
		8	8	8	8
T rade creditors		85,510	135,824
Due to group undertakings				3,217	264,611
Pension scheme creditor		30,316	22,317	787
Other taxation	and social
security		352,551	40,476	723
Accruals		849,620	615,746	52,030	30,675
Other creditors		415,253	493,259
		1,733,250	1,307,622	56,757	295,286

			2020	2019
Discount rate			2.64%	244%
Pensionable	salary growth		n/a	n/a
Defined contribution		pension scheme

Group
		Balance at
		1			Other	Balance at
		September	Incoming	Resources	recognised	31August
		2019	resources	expended	gains/(losses)	2020
		6				F
Unrestricted
General		3,098,013	5,104,620	(4,790,819)		3,411,814
Designated		~3)9,)29)			(66,327)	(385,456)
Totalfunds		2778804	5,104620	~47900)0)	)66327)	3026,350
		Balance at
		1			Other	Balance at
		September	Incoming	Resources	recognised	31August
		2016	resources	expended	gains/(losses)	2019
		6	6	6	6	6
Unrestricted	funds
General		3,177,798	4,424,348	(4,504,133)		3,098,013
Designated		~003,340			284210	~3)0,)29
Totalfunds		2,574,450	4,424,348	(4,504,133)	284,219	2,778,884

Charity
		Balance at
		1			Other	Balance at
		September 2019	Incoming resources	Resources expended	recognised gains/(losses)	31 August 2020
		F	6	6	6
Unrestricted	funds
General		2,264,218	9,785	(166,412)		2,107,591
Designated		~21.679)			~16,945)	(38,624)
Total funds		2242539	9785	~166412)	~16945)	2068967
		Balance at
		. 1			Other	Balance at
		September 2018	Incoming resources 6	Resources expended f	recognised gains/(losses)	31 August 2019 6
Unrestricted
General		2,244,944	330,582	(311,308)		2,264,218
Designated		~(80,(40			58,461	~21,679
Total funds		2, 164,804	330.582	~311.308)	58.461	2,242,539

Group
					Total funds
			Unrestricted	funds	at 31August
			General	Designated	2020
Tangible	fixed assets		24,546		24,546
Current	assets		5,124,880		5,124,880
Current	liabilities		(1,733,250)		(1,733,250)
Provisions Pension scheme		liability	(4,362) ~385,456)		(4,362) (385,456)
Total net assets			3,411,814 ~385,456)		3,026,358
					Totalfunds
			Unrestricted	funds	at 31August
			General	Designated	2019
Tangible	fixed assets		67,476		67,476
Current	assets		4,357,690		4,357,690
Current	liabilities		(1,307,622)		(1,307,622)
Provisions Pension scheme		liability	(19,531) ~319,)29		(19,531) (319,129)
Total net assets			3,098,013	(319,129)	2,778,884

Charity
					Total funds
			Unrestricted	funds	at 31August
			General f	Designated f	2020f
Fixed asset investments			1,256,001		1,256,001
Current	assets		908,347		908,347
Current	liabilities		(56,757)		(56,757)
Pension	scheme	liability		(38,624)	(38,624)
Total net assets			2,107,991 ~(38,624		2,068,967
					Total funds
			Unrestricted	funds	at 31August
			General f	Designated f	2019 f
Fixed asset investments			1,256,001		1,256,001
Current	assets		1,303,503		1,303,503
Current liabilities Pension scheme Total net assets		liability	(295,286) 2,264,218	~21,679 ~21,679	(295,286) ~(21,679 2,242,639