2021-08-31-accounts

Charity Registration No. 1037597

Company Registration No. 02772962 (England and Wales)

CO)

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

~ ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

P Strong E Tate S Ostrowski C Morgan E Coxhead (Appointed 19 January 2022) C Matthews (Appointed 27 January 2022)

The Headmistress and Bursar (Chief Executive Officer)

Mrs E Devey

Charity number

1037597

Company number

02772962

Registered office

Belmont Shrewsbury SY1 1TE

Independent examiner

Hall Livesey Brown 68 High Street Tarporley Cheshire CW6 OAT

ST WINEFRIDES SCHOOL SHREWSBURY TRUST

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CONTENTS

	Page
Trustees’ report	1-2
Independent examiner's report	3
Statement offinancial activities	4
Balance sheet	5
Statement of cash flows	6
Notestothefinancialstatements	7-16

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2021

The trustees present their annual report and financial statements for the year ended 31 August 2021.

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 the trust's [governing document], 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 object as set out in the Memorandum, which is the governing document, is the running of an independent school.

In accordance with the Memorandum, the School is a day school and kindergarten for pupils up to the age of eleven, educating them to a high standard to enable them to move to a senior school.

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The school aims to help low income parents by offering reduced fees to enable their children to attend the school.

The school aims to teach children the importance of giving and sharing with people who are less fortunate.

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

The Charity is not dependent upon the services of unpaid volunteers.

Achievements and performance

The average number of pupils in the year ended 31st August 2021 was 132 (2020 - 136), made up of 51 infants (2020 - 59), 65 juniors (2020 - 63) and 16 kindergarten (2020 - 714).

The Trustees report a fee income for the year of £504,344 (2020 - £581,456) and a deficit for the year of £130,808 (2020 - deficit £12,890).

Financial Review

Reserves policy

It is the Charity’s policy to retain adequate reserves to be able to fund future operations. Prior to 1 September 2020 the Headmistress was paid a salary below market value. There had previously been a policy of building up reserves to cover the additional costs that will arise when a new Head teacher was appointed in the future. Following the appointment of Mrs E Devey reserves will be used to cover a salary at market value. Also the trustee's are due to start planning using the reserves to update the schoo! building and facilities.

The school has set up a restricted fund to provide a bursary for under privileged children wishing to attend the school. £17,806 is held in a separate bank account as resources designated for special purposes.

Investment policy

The Memorandum allows the Directors to invest monies not immediately required for its purposes in such investments, securities or property as the Directors shall think fit, subject to Charity Law.

Risk management

The trustees have assessed the major risks to which the the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is registered as a company limited by guarantee and is constituted under its Memorandum and Articles of Association.

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

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:

P Strong

E Tate M Brown

(Retired 19 January 2022)

S Ostrowski C Morgan K Negron-Jennings (Resigned 1 November 2020) CE CoxheadMatthews — (Appointed(Appointed 2719 JanuaryJanuary 2022)2022)

Method of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum.

New trustees are invited to attend Trustees meetings and are assisted by other members of the Board.

Organisational structure and decision making

The charity is organised with a Board of Trustees. The day to day management of the company are delegated to the Headmistress and Bursar.

Plans for the future

The School expects to continue its educational function and to remain viable.

The school is currently providing financial assistance to a local club in a deprived area of Shrewsbury and plans to continue to do so in the future.

Risk Management

The School has a risk assessment policy in place which is continually updated. It also maintains an insurance policy which covers major risks.

The trustees’ report was approved by the Board of Trustees.

Trusteepated J!Of222

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ST WINEFRIDES SCHOOL SHREWSBURY TRUST

| report to the trustees on my examination of the financial statements of St Winefrides School Shrewsbury Trust (the the trust) for the year ended 31 August 2021.

Responsibilities and basis of report

As the trustees of the the trust (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 the trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, |! report in respect of my examination of the the trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination | 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 the trust’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of The Association of Chartered Certified Accountants, which is one of the listed bodies.

| have completed my examination. | 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 the trust 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 treland (FRS 102).

! 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.

Rebecca Ellams FCCA

Hall Livesey Brown

68 High Street Tarporley Cheshire CWE6 OAT

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Dated: l4le2

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021

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		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2021	2021	2021	2020	2020	2020
	Notes	£	£	£	£	£	£
Income from:
Donations and legacies	3	33,951	-	33,951	29,652	-	29,652
Charitable activities	4	525,430	-	525,430	603,784	-	603,784
Investments	5	61	90	151	3,599	106	3,705
Total income		559,442	90	559,532	637,035	106	637,141
Expenditure on: Charitable activities	6	690,340	-	690,340	650,031	-	650,031
Net (expenditure)/income
forthe year/
Netmovement in funds		(130,898)	90	(130,808)	(12,996)	106	(12,890)
Fund balances at 1
September 2020		1,410,245	17,716	1,427,961	1,423,241	17,610	1,440,851
Fund balances at 31 August
2021		1,279,347	17,806	1,297,153	1,410,245	17,716	1,427,961

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

BALANCE SHEET

AS AT 31 AUGUST 2021

		2021		2020
	Notes	£	£	£	£
Fixed assets
Tangible assets	11	'	363,700		386,020
Current assets
Stocks	12	-		20,838
Debtors	13	182,212		84,110
Cash at bank and in hand		983,818		966,670
		1,166,030		1,071,618
Creditors: amounts falling due within
oneyear	14	(232,577)		(29,677)
Net current assets			933,453		1,041,941
Total assets less current liabilities			1,297,153		1,427,961
Income funds
Restricted funds	17		17,806		17,716
Unrestricted funds			,
Designated funds	18	82,505		82,505
General unrestricted funds		1,196,842		1,327,740
			1,279,347		1,410,245
			1,297,163		1,427,961

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2021.

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.

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The financial statements were approved by the Trustees on Ob. oF | Wee

Trustee

Company Registration No. 02772962

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2021

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|||||||||| |---|---|---|---|---|---|---|---|---| |2021|2020| |Notes|£|£|£|£| |Cash|flows|from|operating|activities| |Cash|generated|from/(absorbed|by)|21| |operations|17,527|(22,607)| |Investing|activities| |Purchase|of tangible|fixed|assets|(530)|(28,836)| |Interest|received|151|3,705| |Net cash|used|in|investing|activities|(379)|(25,131)| |—__—|———.| |Net|increase/(decrease)|in|cash|and|cash| |equivalents|17,148|(47,738)| |Cash|and|cash|equivalents|at|beginning|of year|966,670|1,014,408| |Cash|and|cash|equivalents|at|end|of year|983,818|966,670|

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

• 1 Accounting policies

Charity information

St Winefrides School Shrewsbury Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Belmont, Shrewsbury, SY1 1TE.

• 1.1. Accounting convention

The financial statements have been prepared in accordance with the the trust's Memorandum and Articles, 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)". The the trust is a Public Benefit Entity as defined by FRS 102.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

• 1.2 Going concern

At the time of approving the financial statements, the trust had a reasonable expectation that the the trust 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 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.

1.4 Incoming resources

Income is recognised when the the trust 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.

Fees are recognised when the charity is legally entitles to is after any performance conditions have been met, the amounts can be measured reliably, and it is probable that the income will be received. Income is deferred in respect of cash received relating to future fees.

Cash donations are recognised on receipt. Other donations are recognised once the the trust has been notified of the donation, unless performance conditions require deferral of the amount.

• 1.5 Resources expended

Ail expenditure is accounted for on an accruals basis and related costs aggregated into categories. Costs are allocated between direct charitable costs, support & governance costs and other costs according to the nature of the cost.

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

• 1 Accounting policies

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(Continued)
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• 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 property & improvements 2% per annum Straight Line method Equipment 25% per annum Reducing Balance method Website 33.3% per annum Straight Line method cy 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.

1.7 Impairment of fixed assets

At each reporting end date, the trust 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 Stocks

Stocks are stated at the lower of cost and net realisable value. The School also receives donated secondhand uniform from Parents. It is the policy of the company not to recognise any value of this stock on the balance sheet due to the inherent difficulty in valuing such stock. Instead the company recognise the sales proceeds of the sale of second had uniform when sold, as income.

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1.9 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.

1.10 Financial instruments

The trust 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 the trust's balance sheet when the the trust 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.

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.

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

• 1 Accounting policies

(Continued)

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 the trust's contractual obligations expire or are discharged or cancelled.

1.11 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 the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 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 the trust'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.

3 Donations and legacies

	Unrestricted	Unrestricted
	funds	funds
	2021	2020
	£	£
Government grant	636	21,463
Donatedgoodsandservices	33,315	8,189

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

4 Charitable activities

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||||||||| |---|---|---|---|---|---|---|---| |2021|2020| |£|£| |Fee|income|504,344|581,456| |Uniform|sales|;|13,046|7,385| |Income|from|trips|and|tuck|shop|8,040|14,943| |525,430|603,784|

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) 5 Investments

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||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |funds|funds| |2021|2021|2021|2020| |£|£|£|£| |Interest|receivable|61|90|151| |For the|year ended|31|August|2020|3,599|106|3,705|

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

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6

		Charitable	Charitable
		Expenditure Expenditure	Expenditure Expenditure
		2021	2020
		£	£
Staff costs		453,126	450,954
Depreciation and impairment	,	22,850	22,995
Uniform purchases		21,959	11,955
Cost of trips and tuck shop purchases		3,613	12,371
Repairs and renewals		31,335	35,462
School books and educational equipment		12,025	9,520
Light, heat and water		13,511	16,289
Househoid expenses		1,902	1,228
Telephone, postage and stationery		8,655	6,602
General rates		6,592	4,590
Sundry items		817	629
Bad debts		30,662	-
		607,047	572,595
Share ofsupport costs (see note 7)		70,251	68,515
Share ofgovernance costs (see note 7)		13,042	8,921
		690,340	650,031

7 Support costs

Support costs
	Support	Governance	2021	2020
	costs	costs
	£	£	£	£
Staff costs	42,441	-	42,441	40,825
Courses, licences and subscriptions	15,403	-	15,403	11,387
Insurance	11,426	-	11,426	15,491
Advertising	981	-	981	812
Independent Examination fees	-	2,000	2,000	2,000
Accountancy	-	1,000	1,000	1,000
Legal and professional	-	10,042	10,042	5,921
	70,251	13,042	83,293	77,436
Analysed between
Charitableactivities	70,251	13,042	83,293	77,436

Governance costs includes payments to the Independent Examiners of £2,000 (2020- £2,000) for examination fees.

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

8	Net movement in funds	2021	2020
		£	£
	Net movement in funds is stated after charging/(crediting)
	Fees payable to the company's Independent Examiner	2,000	2,000
	Depreciation ofowned tangible fixed asseis	22,850	22,995
9	Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the the trust during the year.

10 Employees

Number of employees

The average monthly number of employees during the year was:

	2021	2020
	Number	Number
Teaching	27	28
Administration of the school	4	4
	31	32
Employment costs	2021	2020
	£	£
Wages and salaries	414,429	421,982
Social securitycosts Other pension costs	29,419 51,719	25,704 44,093
	495567	491,779

There were no employees whose annual remuneration was £60,000 or more.

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

11.	Tangible fixed assets
			Freehold	Equipment	Website	Total
			property &
			improvements
			£	£	£	£
	Cost
	At 1 September 2020		487,946	184,744	6,478	679,168
	Additions		-	530	-	530
	At 31 August 2021		487,946	185,274	6,478	679,698
	Depreciation and impairment
	At 1 September 2020		154,157	132,513	6,478	293,148
	Depreciation charged in the year		9,759	13,094	-	22,850
	At 31 August 2021		163,916	145,604	6,478	315,998
	Carrying amount
	At 31 August 2021		324,030	39,670	-	363,700
	At 31 August 2020	;	333,789	52,231	-	386,020
12	Stocks
					2021	2020
					£	£
	Stock of uniforms				-	20,838
13	Debtors
					2021	2020
	Amounts falling due within one year:				£	£
	Fee debtors				177,753	76,632
	Other debtors				-	3,108
	Prepayments and accrued income				4,459	4,370
					182,212	84,110

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

14 Creditors: amounts falling due within one year

		2021	2020
	Notes	£	£
Deferred income	15	209,747	5,871
Trade creditors		1,178	6,854
Other creditors		14,392	5,488
Accruals and deferred income		7,260	11,464
		232,577	29,677

15 Deferred income

				2021	2020
				£	£
Fees	received	in	advance	209,747	5,871

16 Retirement benefit schemes

Defined contribution schemes

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

The charge to profit or loss in respect of defined contribution schemes was £51,719 (2020 - £44,093). At the year end £6,240 was owed (2020 - £5,367) in respect of pension contributions.

cr) 17 Restricted funds

The school has a restricted fund to provide a bursary fund to assist under privileged children wishing to attend: the school.

				Movement		Movement
				in funds		in funds
			Balance at	Incoming	Balance at	Incoming	Balance at
		1	September	resources	1 September	resources	31 August
			2019		2020		2021
			£	£	£	£	£
Restricted	bursary		17,610	106	17,716	90	17,806

Cash at bank includes an account with Santander for the restricted funds of £17,806 (2020 - £17,716). Interest of £90 was added to the account this year.

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

18 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

			Balance at	Movementin	Balance at
		1	September	fund 31 August 2021
			2020
			£	£	£
Asset	fund		82,505	-	82,505
			82,505	-	82,505

In an agreement with the Union of the Sisters of Mercy Great Britain, the assets of St Winefride's school were transferred to the company on 1st January 1993. The value of the assets at that date was £80,419 and this was credited to the Asset Fund. During 1994 it was recognised that certain interest was being received under reduction of tax. The tax was refunded by the Trusts bankers. £2,086 related to before ‘1st January 1993 and was credited to the capital fund.

19 Analysis of net assets between funds

	Unrestricted	Restricted	Total	Unrestricted	Resiricted	Total
	2021	2021	2021	2020	2020	2020
	£	£	£	£	£	£
Fund balances at 31
August 2021 are
represented by:
Tangible assets	363,700	-	363,700	386,020	-	386,020
Current assets/
(liabilities)	915,647	17,806	933,453	1,024,225	17,716	1,041,941
	1,279,347	17,806	1,297,153	1,410,245	17,716	1,427,961

20 _ Related party transactions

There were no related party transactions during the year (2020 - none).

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ST WINEFRIDES SCHOOL SHREWSBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

21.	Cash generated from operations	2021	2020
		£	£
	Deficit forthe year	(130,808)	(12,890)
	Adjustments for:
	Investment income recognised in statement offinancial activities	(151)	(3,705)
	Depreciation and impairment oftangible fixed assets	22,850	22,995
	Movements in working capital:
	Decrease/(increase) in stocks	20,838	(4,569)
	(Increase) in debtors	(98,102)	(28,800)
	(Decrease)/increase in creditors Increase/(decrease) in deferred income	(976) 203,876	5,462 (1,100)
	Cashgeneratedfrom/(absorbedby)operations	17,527	(22,607)

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