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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|
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|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|
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##
|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|ofsubsidiaries|||
|---|---|---|---|---|
||||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|