**REGISTERED CHARITY NUMBER: 1041474**
## **THE AXIS EDUCATIONAL TRUST**
## **TRUSTEES’ REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED**
**31 AUGUST 2022**
## **THE AXIS EDUCATIONAL TRUST**
|**Contents**|**Page**|
|---|---|
|Legal and administrative information|2|
|Trustees’ Report
|3 - 10|
|Accountant’s Report|11|
|Statement of Financial Activities|12|
|Balance Sheet|13|
|Notes to the Financial Statements|14 - 22|
1
## **THE AXIS EDUCATIONAL TRUST**
## **Legal and administrative information**
## **Trustees**
X TRUSTEE WITH A DISPENSATION
## **Charity Number: 1041474**
## **Office address**
16-17 Grand Arcade, Industrial House Second Floor, London, N12 0EH
## **Accountants**
AA ACCOUNTANCY SERVICES 244 Chase Road London N14 6HH
## **Bankers**
HSBC Bank plc PO Box 1311 The Town Enfield Middlesex EN2 6LD
## **Solicitors**
Russell Wise Solicitors
2
## **THE AXIS EDUCATIONAL TRUST**
## **TRUSTEES’ REPORT**
## **FOR THE PERIOD ENDED 31 AUGUST 2022**
The trustees present their annual report along with the audited financial statements of the charity for the period ended 31 August 2022. The trustees confirm that the Annual report and financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 1993 and the Statement of Recommended Practice: Accounting and Reporting by Charities 2005.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
- Constitution
The Axis Educational Trust is constituted under a trust deed dated 11th July 1994 and as amended on15 January 2021 and is a registered charity, number 1041474.
The principal objective of the Trust is to advance the education of students in the UK.
In setting our objectives and planning our activities the trustees have considered the Charity Commission’s general guidance on public benefit and to its supplementary public benefit guidance on advancing education and on fee-charging.
## • 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 Articles of Association.
- Policies adopted for the induction and training of trustees.
New Trustees are inducted into the workings of the charity including Board policy and procedures, by way of electronic updates including, but not limited to, monthly briefings on Trust activities.
## • Organisational structure and decision making
The Axis Educational Trust is a registered charity, number / 1041474 and managed by its Trustees.
The Board of Trustees is made up of the chair, secretary, treasurer and other trustees and meet at least four times a year to manage the charity.
## • Risk Management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
## **OBJECTIVES AND ACTIVITIES**
## **Policies and objectives**
The objectives of the trust as described in the Memorandum of Association are.
3
“ The Trustees shall hold the Trust Fund and the income thereof UPON TRUST to pay thereout all proper costs and expenses incurred by the Trustees in establishing and administering the Charity and subject thereto to pay or apply the whole thereof to promote general charitable purposes for the benefit of the public, in particular but not exclusively for the Black, Asian and Minority Ethnic community, and socio-economically disadvantaged groups in the United Kingdom, including but not limited to the following purposes:
1)the advancement of education of children and young people by tackling the inequalities and developing their skills, capacities, and capabilities to enable them to participate in society as independent, mature, and responsible individuals through establishment of supplementary education opportunities.
2)relieving unemployment by training of those who are unemployed, young adults, adults, and women with the aim of increasing their skill level and chances of employability.
3)providing a mentoring and mental health support service to youth particularly through the provision of sports and arts activities.
4)the relief of poverty amongst the residents of London by providing emergency aid, food, and equipment especially in the time of crisis.
5)carrying out other activities as considered appropriate in furtherance of the said objectives.”
- Strategies for achieving objectives.
The Axis Educational Trust carry out these objectives by opening Supplementary Schools (Saturday Schools, Evening Classes, After-school clubs, Tuition Centres, Holiday Schemes) or running community projects for disadvantaged or vulnerable people. While doing so, the charity will employ its anti-discrimination, equal opportunity, safeguarding and inclusion policies so that the whole public could benefit from the charity's provisions, services, and activities. In setting objectives and planning activities, the Trustees have considered the Charity Commission`s general guidance on public benefit guidance on advancing education and on fee-charging. In 2021-2022 academic term, Axis Supplementary Schools charged a subsidised fee of £12 per hour per child on Saturday Schools/Tuition Centres, with an additional up to 20% discount (bursary) for disadvantaged children who are entitled for Free School Meals at their own schools as well as lowincome families who struggle financially. Since the closure of our tuition centres during lockdowns and restrictions, the trust has been offering online services and courses as well as in-centre services. We invested in technology and training of staff for continuous delivery. During Covid 19 we delivered almost 50% of our online courses free of charge.
- Activities for achieving objectives.
The main activities of the Trust during this period have been:
-Intensive group and one-to-one literacy, numeracy, and science support.
-Weekday evening and weekend learning programmes.
- -Homework clubs and booster classes for SATs, GCSE/A-Level, and 11+ students.
- -Teacher training workshops and seminars.
- -Holiday activity and Food programmes5
4
-Grant applications for existing and new projects (Axis North Finchley Tuition Centre, Online Learning Support, Active Minds
– Axis Holiday Learning Programme Projects, Employability projects, Sports and Arts projects, Mental Health, and Wellbeing Projects).
-Parent seminars.
These projects are designed to make a difference to the children and young people who need it most.
## **ACHIEVEMENTS AND PERFORMANCE**
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
- •Review of activities
This year ended 31 August 2022 is the 28th year of Axis’ operations and providing educational services for the community. Axis Educational Trust is a valuable resource for children and young people from disadvantaged backgrounds. Its programs and services help to level the playing field and give these young people the opportunity to succeed. I am confident that Axis will continue to achieve great things in the years to come. Here are some of the achievements and goals. Supplementary Education: Axis Educational Trust successfully provided supplementary education programs to over 300 disadvantaged children and young people in its centres and online. These programs included tutoring, mentoring, and study support to improve their academic performance and overall educational outcomes. Career Counselling: The charity offered comprehensive career counselling services to more than 100 young people, helping them explore different career paths, identify their strengths, and make informed decisions about their future. This support included guidance on college and university applications, vocational training, and apprenticeship opportunities. Mental Health Support: Axis Educational Trust prioritised the mental well-being of the children and young people they served. The charity conducted workshops, counselling sessions, and mental health awareness campaigns, reaching out to over 300 individuals. These efforts aimed to reduce stigma, promote self-care, and provide essential coping strategies. Holiday Activity Programmes: The trust organised engaging holiday activity programs for disadvantaged children and young people, offering them opportunities for recreation, personal development, and socialisation. These programs reached over 150 individuals and included activities such as sports, arts and crafts, and cultural outings. Employability Training and Coaching: Axis Educational Trust provided employability training and coaching to more than 150 young people and adults from socio-economically disadvantaged backgrounds or refugees. These initiatives equipped them with essential job-seeking skills, interview preparation, CV writing assistance, and networking opportunities, enhancing their employability prospects.6
Axis Scheme for the so-called Tuition Centres focuses on the two most important aspects of the curriculum, Literacy and Numeracy so that we ensure our supplementary learning has the maximum impact on the child's education without taking up too much time. The scheme improves literacy and numeracy skills of children aged 5-14 as children spend 3 hours of quality time at the weekend (or 2 hours per subject in the weekday evenings) to improve their reading, writing, arithmetic, and creative thinking skills. Science lesson has also been implemented to the scheme for GCSE and A-Level students. In addition, the eleven plus course which was added to the curriculum 4 years ago has now grown with the intensive demand from the public. Pupils of different ages attend the supplementary schools which follow Axis Scheme to get the additional
5
educational support needed to succeed in their lessons at school. Our experience has shown that these schools have also played an important role in keeping attending students focused on their learning and away from other temptations that lie outside the classroom, including crime. They have also been of tremendous benefit in creating an environment where parents can meet other people who share similar values and ethos regarding society and a commitment to creating a society with and for educated individuals who recognise and appreciate their broader social responsibilities. Our well-established websites (www.axiseducationaltrust.org, www.tuitioncentres.org) are testaments to the popularity of the program. Axis Educational Trust continued providing guidance service for teacher candidates throughout their PGCE applications this year too and candidates were offered voluntary and paid positions at supplementary schools, so that, the experience they gained through Axis gave them the confidence in their applications and studies as well as the first year in teaching profession. We also delivered a special teacher training and centre manager training programme for overseas qualified teachers who are mainly refugees in the UK and created work experience opportunities for them. Our tuition centres are mainly managed by these people. We are extremely pleased that last year we reached our academic targets with the following results:
-100% of our GCSE students got a grade between A*-C (5-9)
-85% of all primary school and KS3 students, who continued the programme for a minimum of two terms, achieved a minimum 1 sub-level increase (based on the old sub-level system).
## **Active Minds and HAF– Axis Holiday Learning Programme**
We believe that children need a break from formal education but learning and skills development can be offered during fun, quiz, sports, and art activities during the school holiday. Trust decided to carry on providing a fun way of learning during the 2022 Easter and Summer holidays in North London, where many disadvantaged kids enjoyed a quality programme. In 2021, we became provider partner of Holiday activity and food program initiated by Famous footballer Marcus Rashford and funded by DfE in Enfield and Barnet boroughs. This programme has reached a significant interest from the residents. Axis has also provided half-term and Easter programmes given the demand from public. _Aims_
-To provide educational support to children who are most in need during holidays.
-To provide a safe, fun and instructive play-scheme for disadvantaged children. --To help removing financial obstacles for those who can't afford.
-To provide hot meals for free school meal receivers
-To provide healthy food and nutritional education to pupils and parents
## _Impact_
Our holiday programmes helped over 400 children so far from low-income families improve their academic skills a minimum of one sub-level up to close the gap with their peers in a short term. In addition, children with low aspirations, low self-esteem and lack of self-confidence had additional time to have access to better facilities and a fun way of learning which helped them reach their potential, develop their emotional intelligence, and have a better career and life expectations for the future. The funding John Lyon’s Charity has made a grant of £4,000 each this year for half-term and Easter projects. HAF funded the Free School Meal pupils in Enfield and Barnet. BBC Children in Need funded the provision of Tuition to 30 children in Enfield. Online Tuition As we could invest in online delivery of our courses last year, we carried on supporting the children and adults in vulnerable communities outside London through online platform Microsoft Teams. Employability Projects We delivered GCSE English and Maths courses for overseas qualified teachers, OET (Occupational English Test) Preparation for overseas qualified doctors and nurses, SQE (Solicitor
6
Qualifying Exam) preparation for overseas qualified solicitors and IELTS preparation for overseas qualified academicians to overcome their language barrier and access to professions in the UK. A total number of 96 refugees joined the programme so far. Some of these projects were partly funded by ESFA or crowdfunding campaign. We would like to carry on training and mentoring activities for refugees depending on the funding secured in the future.
- Factors relevant to achieve objectives.
Over the past 28 years, the charity established a reputation for excellent academic results, experienced teaching staff, safe school environment and trust. This is borne out in maintaining the number of students re-registered; the longstanding donors both home and abroad who continue to monitor and evaluate our performance and continue to extend their support. FINANCIAL REVIEW Governance and internal control the trustees are responsible for the governance of the organisation, and to provide reasonable assurance that:
- the charity is operating efficiently and effectively.
- its assets are safeguarded against unauthorised use or disposition.
• proper records are maintained, and financial information used within the charity or for publication is reliable.
- the charity complies with relevant laws and regulations.
The system of internal control is designed to provide reasonable, but not absolute assurance against material misstatement or loss. They include:
- a strategic plan and an annual budget approved by the trustees.
- regular consideration by the trustees of financial results, variances from budgets, non-
- financial indicators and benchmark working reviews.
- delegation of authority and segregation of duties.
- identification and management of risks.
In addition, the trustees will consider the guidance for directors of public listed companies contained within the Turnbull Report of 2000. Although it is not mandatory for the charity, it should, as a public interest body, adopt the guidelines as best practice.
- Reserves policy (and management of risks)
- -The trustees have reviewed the reserves of the charity. Their policy is to hold enough
- funds to meet three months of unrestricted charitable expenditure. Currently this is equivalent to £45K.
• -The trustees have considered the strategic, business, and operational risks to which the charity is exposed. In the light of their experience, they are confident that grant flow will continue. They are satisfied that systems are in place to mitigate exposure to major risks.
- Principal funding
The principal funding source of the charity is that of tuition fees, rental income and grants.
- Material investments policy
7
Trustees’ responsibility in relation to the financial statements
The charity's trustees are responsible for preparing the Trustees’ Report and financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently.
- observe the methods and principles in the Charities SORP.
- make judgments and estimates that are reasonable and prudent.
• state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The trustees confirm that so far as they are aware, there is no relevant audit information of which the charity’s auditors are unaware. They have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.
## **PLANS FOR THE FUTURE**
## **•Future Goals**
Expansion of Services: The trust aims to extend its reach and impact by expanding its services to new regions or communities in need. This expansion will involve establishing new educational support centres and partnerships with local organisations to ensure a wider reach and more comprehensive support.
Strengthening Collaboration: Axis Educational Trust intends to collaborate with other charitable organisations, educational institutions, and community stakeholders to create a strong network of support. By working together, they can leverage resources, share best practices, and maximise the impact of their programs and services.
Enhanced Mental Health Support: Recognising the growing importance of mental health support, the trust plans to allocate more resources to provide comprehensive mental health services. This
8
includes increasing the availability of counselling sessions, workshops, and training for both young people and adults to address the unique challenges they face.
Sustainable Funding: Axis Educational Trust will focus on developing sustainable funding streams to ensure the continuity and long-term stability of its programs. This may involve seeking partnerships with corporate sponsors, applying for grants, and engaging in fundraising initiatives within the local community.
Alumni Engagement: The charity aims to establish an alumni network to stay connected with the individuals who have benefited from their programs. This network will provide ongoing support, mentorship opportunities, and a platform for alumni to share their success stories, inspiring and motivating current beneficiaries and volunteering.
- Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
• so far as that Trustee is aware, there is no relevant audit information of which the charity’s auditors are unaware, and that Trustee has taken ail the steps that ought to have been.
• taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information.
Approved by the Chair of trustees on behalf of the board of trustees.
X TRUSTEE WITH A DISPENSATION Date 27 June 2023
Chairman of the Board of Trustees
9
## **THE AXIS EDUCATIONAL TRUST**
## **INDEPENDENT EXAMINER'S REPORT TO TRUSTEES OF THE AXIS EDUCATIONAL TRUST**
I report on the accounts of the charity for the year ended 31 August 2022 which are set out on pages 12 to 22
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
## **Basis of independent examiner’s statement**
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent examiner’s statement**
In the course of my examination, no matter has come to my attention other than disclosed below.
1.which gives me reasonable cause to believe that in any material respect the requirements:
•to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations
•to prepare accounts which accord with the accounting records and comply with Regulation 8of the 2006 Accounts Regulations have not been met, or
2.to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached **.**
AA ACCOUNTANCY SERVICES
Chartered Certified Accountant
244 Chase Road, London, N14 6HH
Date: 27 June 2023
10
## **THE AXIS EDUCATIONAL TRUST STATEMENT OF FINANCIAL ACTIVITIES**
## **(Incorporating income and expenditure account) FOR THE YEAR ENDED 31 AUGUST 2022**
|**Unristricted**
**Notes**
**Funds**
**INCOME AND EXPENDITURES**
**£**
**INCOMING RESOURCES**
Incoming resources from generated funds:
Voluntary income
2
127850
Activities for generating funds
3
8910
Investment income
4
224659
Incoming resources from charitable activities
5
179267
Other incoming resources
6
1256
**TOTAL INCOMING RESOURCES**
541942
**RESOURCES EXPENDED**
charitable Activities
7
368034
Governance Costs
8
47306
Other resources expended
9
0
**TOTAL RESOURCES EXPENDED**
11
415340
**NET INCOMING/(OUTGOING) RESOURCES**
**before transfers**
**21**
126602
**Transfersbetween funds**
-
**NET MOVEMENT IN FUNDS FOR THE YEAR**
126602
**Total Funds at 1 September 2021**
1893924
Prior Year Adjustment (Note 20)
0
**Total Funds at 31 AUGUST 2022**
2020526
=====|**Restricted**
**Funds**
**£**
13519
0
0
0
-
13519
40038
7200
0
47238
-33719
-
-33719
9636
0
-24083
=====|**2022**
**Total**
**£**
141,369
8910
224659
179267
1256
555461
408072
54506
0
462578
92883
-
92883
1903560
0
1996443
=====|**2021**
**Total**
**£**
263,981
12000
147300
121663
2111|
|---|---|---|---|
||||547055|
||||390188
53214
0|
||||443402|
||||103653
-|
||||103653
1799907
0
1903560
=====|
The notes on pages 12 to 22 form part of these accounts.
12
## **THE AXIS EDUCATIONAL TRUST**
## **BALANCE SHEET AS AT 31 AUGUST 2022**
|**Notes**
**2022**
**₤**
15
33066
Programme related investments
**16**
2886026
2919092
Debtors
**17**
11125
Investments
61667
100016
172808
**18**
(54114)
**19** (1041343)
1996443
**=====**
**21**
-24083
**21**
2020526
1996443
**=====**
**FIXED ASSETS**
Tangible assets
**CURRENT ASSETS**
Cash at bank and in hand
Restricted funds
**CHARITY FUNDS**
Unrestricted funds
**CREDITORS:**Amounts falling due
within one year
**Total assets less current liabilities**
**Net current assets / (liabilities)**
**CREDITORS:**Amounts falling due
more than one year|**2021**
**₤**
15097
2886026|
|---|---|
||2901123
22550
0
167845|
||190395
(83794)|
||(1104164)|
||1903560
**=====**
9636
1893924|
||1903560
**=====**|
The notes on pages 16 to 24 from part of these accounts. Approved by the Board of Trustees on 27 June 2023.and signed on its behalf byX TRUSTEE WITH A DISPENSATION, Trustee.
X TRUSTEE WITH A DISPENSATION Chairman
13
**THE AXIS EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
## **1. ACCOUNTING POLICIES**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), 'Accounting and Reporting by Charities' published in March 2005 and applicable accounting standards.
## **1.2 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
## **1.3 Incoming resources**
All incoming resources are included in the Statement of financial activities when the charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability.
Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable No income is recognised where there is no financial cost borne by a third party.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable
## **1.4 Resources expended**
Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled, Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
14
## **THE AXIS EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
## **1. ACCOUNTING POLICIES (continued)**
## **1.5 Tangible fixed assets and depreciation**
All assets costing more than £ _500_ are capitalised.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures and fittings 25% reducing balance
## **1.6 Foreign currencies**
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of financial activities.
## **1.7 Programme related investment**
Programme related investments are stated at the cost of investment.
|**2. VOLUNTARY INCOME**
Donations
Grants
**Voluntary Income**
**3. TRADING ACTIVITIES**
**Charity trading income**
Charity trading income-Domestic
Net income from trading activities|**Unristricted**
**Funds**
**£**
19010
108840
127850
**Unristricted**
**Funds**
**£**
8910
8910|**Restricted**
**Funds**
**£**
0
13519
13519
**Restricted**
**Funds**
**£**
-
0|**2022**
**Total**
**£**
19010
122359
141369
**2022**
**Total**
**£**
8910
8910|**2021**
**Total**
**£**
109184
154797|
|---|---|---|---|---|
|||||263981|
|||||**2021**
**Total**
**£**
12000|
|||||12000|
15
## **THE AXIS EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
|**4. INVESTMENTINCOME**
**Unristricted**
**Funds**
**£**
Rental Income
224659
**5. INCOMING RESOURCES FROM CHARITABLE**
**Unristricted**
**Funds**
**£**
Educational Activities
179267
**6. OTHER INCOMING RESOURCES**
**Unristricted**
**Funds**
**£**
Other incoming resources
1256
**7. EXPENDITURE BY CHARITABLE ACTIVITY**
**SUMMARY BY FUND TYPE**
**Unristricted**
**Funds**
**£**
Investment Income
0
Educational Activities
368034
368034
**SUMMARY BY EXPENDITURE TYPE**
**Staff**
**Costs**
**£**
Investment Income
0
Educational Activities
257076
257076|**Restricted**
**2022**
**Funds**
**Total**
**£**
**£**
0
224659
**ACTIVITIES**
**Restricted**
**2022**
**Funds**
**Total**
**£**
**£**
0
179267
**Restricted**
**2022**
**Funds**
**Total**
**£**
**£**
0
1256
**Restricted**
**2022**
**Funds**
**Total**
**£**
**£**
0
0
40038
408072
40038
408072
**Other**
**2022**
**Costs**
**Total**
**£**
**£**
0
0
150996
408072
150996
408072|**2021**
**Total**
**£**
147300|
|---|---|---|
|||**2021**
**Total**
**£**
121663|
|||**2021**
**Total**
**£**|
|||2111|
|||**2021**
**Total**
**£**
73911
221731|
|||295642|
|||**2021**
**Total**
**£**
73911
221731|
|||295642|
16
## **THE AXIS EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
|**8. GOVERNANCE COSTS**
**Unrestricted**
**Funds**
**£**
Governance- Accountants fees
1500
Governance - Other expenses
461
Governance - Premises costs for head office
4579
Governance - telephone
268
Governance expense - computer expenses
900
Governance expense - wages and salaries
28228
Governance expense - NI
8096
Governance - depreciation - tangible fixed assets
3274
47306
====
**9. OTHER RESOURCES EXPENDED**
**Unrestricted**
**Funds**
**£**
Loss((profit) on disposal of fixed asset
0
====
**10. DIRECT COSTS**
**Basis of Investment**
**Allocation**
**Income**
**£**
Educational supplies
Direct
0
Bursaries and scholarships
Direct
0
Staff training and welfare
Direct
Premises
Direct
Insurance
Direct
Consultancy fees
Direct
Professional fees
Direct
Printing, Postage and Stationary
Direct
Equipment Hire
Direct
Student Related costs
Direct
Telephone
Direct
Travel and substance
Direct
Repairs and Renewals
Direct
Bank Charges
Direct
Credit Card Charges
Direct
Subscriptions
Direct
Miscellaneous
Direct
Advertising
Direct
Interest
Direct
Computer costs
Direct
Wages and salaries
Direct
Pension
Direct
Purchases
Direct
0
====|**Unrestricted**
**Funds**
**£**
1500
461
4579
268
900
28228
8096
3274|**Restricted**
**Funds**
**£**
7200
7200
====
**Restricted**
**Funds**
**£**
0
====
**Educational**
**Activities**
**£**
12000
8703
41215
5620
1400
287
1663
2407
0
2411
3188
1293
753
144
470
4145
19748
36465
8098
246850
986
10226
408072
====|**2022**
**Total**
**£**
1500
461
4579
268
900
35428
8096
3274|**2021**
**Total**
**£**
1500 +
656
5190
556
583
37200
4255
3274
53214
====
**2021**
**Total**
**£**
0
====
**2021**
**Total**
**£**
12367
5700
7864
46714
5585
18750
7890
3081
33
1222
5011
2653
3069
551
945
4141
5907
18624
33112
5250
201696
23
0
390188
====|
|---|---|---|---|---|
||47306
====
**Unrestricted**
**Funds**
**£**||54506
====
**2022**
**Total**
**£**||
||||0
====
**2022**
**Total**
**£**
0
12000
8703
41215
5620
1400
287
1663
2407
0
2411
3188
1293
753
144
470
4145
19748
36,465.00
8098
246850
986
10226||
||0
====||408072
====||
**THE AXIS EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
## **11. ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE**
|**Staff Costs**
**Depreciation**
**Other Costs**
**2022**
**£**
**£**
**£**
**£**
Investment Income
0
0
0
0
Educational Activities
257076
0
150996
408072
**Charitable activities**
257076
0
150996
408072
**Governance**
43524
3274
7708
54506
**Loss on disposal of fixed assets**
0
0
0
0
300600
3274
158704
462578
**12. ANALYSIS OF RESOURCES EXPENDED BY ACTIVITIES**
**Activities undertaken**
**Total**
**Directly**
**Support Costs**
**2022**
**£**
**£**
**£**
Investment Income
0
0
0
Educational Activities
408072
54506
462578
**Total**
408072
54506
462578|**2022**
**£**
0
408072|**2021**
**£**
33112
357076|
|---|---|---|
||408072|390188|
||54506
0|53214
0|
||462578|443402|
|||**Total**
**2021**
**£**
33112
410290|
||462578|443402|
## **13. NET INCOMING RESOURCES**
This is stated after charging:
|**13. NET INCOMING RESOURCES**
This is stated after charging:|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Depreciation of tangible fixed assets: owned by charity|3274|3724|
|Auditor's remuneration|0|0|
|Governance Accountant fees|1500|1500|
During the year, no Trustees received any remuneration (2020 -£NIL). During the year, no Trustees received any benefits in kind (2020 -£NIL).
During the year, no Trustees received any reimbursement of expenses (2020 -£NIL).
## **14. STAFF COSTS**
Staff costs were as follows:
|Wages and salaries
Social security costs
The average monthly number of employees during the year was as follows:|**2022**
**£**
282278
18322
300600
**2022**
**No.**|**2021**
**£**
238896
4255|
|---|---|---|
|||243151|
|||**2021**
**No.**
10|
No employee received remuneration amounting to more than £60,0O0 in either year.
18
## **THE AXIS EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
## **15. TANGIBLE FIXED ASSETS**
|**15. TANGIBLE FIXED ASSETS**||
|---|---|
|**Cost**
At 31.08.21
Additions
At 31.08.22
**Depreciation**
At 31.08.21
charge for period
At 31.08.22
**Net book values**
**At 31.08.22**
**At 31.08.21**|**TOTAL**
**£**
103282
21243|
||124525|
||88185
3274|
||91459|
||33066|
||15097|
## **16. PROGRAMME RELATED INVESTMENT**
|Market Value
At 1 September 2021
and 31 August 2022
At 31 August 2021|**336 Philip**
**Lane**
**£**
733552
733552|**337 Fore**
**Street**
**£**
1434256
1434256|**4 Glasgw**
**Road**
**£**
467265
467265|**Alterations to**
**Premises**
**£**
250953|**Total**
**£**
2886026|
|---|---|---|---|---|---|
|||||250953|2886026|
Programme related investments enable other charities to further their charitable objectives as well as ours in advance of furthering the education of students throughout the UK.
Total bank loans at the year end of £1045162 (2021: £1148419) are owed in relation to the Programme Related Investments held.
19
## **THE AXIS EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
## **17. DEBTORS**
|**EBTORS**|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Due after more than one year|||
|Other Debtors|**0**|**0**|
|Due within one year|||
|Trade debtors|11125|22550|
|Other debtors|0||
||11125|22550|
## **18. CREDITORS:** Amount falling due within one year
|**2022**
**£**
Bank loans and Overdraft
37577
Trade creditors
27
Other taxation and social security
8423
Other creditors
5072
Accruals and deferred income
3015
54114|**2021**
**£**
69255
9562
3318
144
1515|
|---|---|
||83794|
## **19. CREDITORS:** Amount falling due after one year
||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
|Bank loans|1016343|1079164|
|Other creditors|25000|25000|
||1041343|1104164|
|Creditors include amounts not wholly repayable within 5 years as follows:|||
||**2022**|**2021**|
||**£**|**£**|
|Repayable by instalments|650250|770250|
Bank loans are secured by way of a charge over the freehold buildings of the charity.
20
## **THE AXIS EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
## **20. PRIOR YEAR ADJUSTMENT**
There is no prior year adjsutment this year
## **21. STATEMENT OF FUNDS**
|**Designated Funds**
**General Funds**
General Funds-all funds
**Total Unrestricted funds**
**Restricted funds**
Restricted funds-all funds
**Total of funds**
**SUMMARY OF FUNDS**
General Funds
Restricted funds|**Brought**
**Forward**
**£**
1893924
1893924
9636
1903560
**Restated**
**Brought**
**Forward**
**£**
1903560
0
1903560|**Incoming**
**Resources**
**£**
541942
541942
13519
555461
**Incoming**
**Resources**
**£**
541942
13519
555461|**Resources**
**Expended**
**£**
(415340)
(415340)
(47238)
(462578)
**Resources**
**Expended**
**£**
(415340)
(47238)
-462578|**Transfers**
**In/Out**
**£**
0|**Carried**
**Forward**
**£**
2020526|
|---|---|---|---|---|---|
|||||0|2020526|
|||||0|-24083|
|||||0|1996443|
|||||**Transfers**
**In/Out**
**£**
0
0|**Carried**
**Forward**
**£**
2030162
-33719|
|||||0|1996443|
21
## **THE AXIS EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
## **22. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Tangible fixed assets
Programme related investments
Debtors due after more than 1 year
Current assets
Creditors due within one year
Creditors due in more than one year|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**2022**
**2021**
**£**
**£**
**£**
£
33066
0
33066
15097
2886026
0
2886026
2886026
0
0
0
0
172808
0
172808
190395
(54114)
0
(54114)
(83794)
(1041343)
0
(1041343)
(1104164)|
|---|---|
||**1996443**
**0**
**1996443**
**1903560**|
## **23. RELATED PARTY TRANSACTIONS**
There was not any related party transaction with any of the trustees this year and last year.
22