**REGISTERED CHARITY NUMBER: 1041474** ## **THE AXIS EDUCATIONAL TRUST** ## **TRUSTEES’ REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED** **31 AUGUST 2023** ## **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** 1.Hakan Gokce 2.Samiye Sengel 3.Kazim Korhan Misirlioglu 4.Belkis Adak 5.Ayhan Saka 6.Sevgi Iz (Ciftci) 7.X trustee with 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 # **For the period ended 31 August 2023** ## **Welcome** A heartfelt welcome to the Axis Educational Trust, on behalf of our dedicated Board of Trustees. The past year has been a transformative journey, marked by global challenges, from the persistent impact of the COVID-19 pandemic to the strains of societal conflict and the escalating cost of living. These pressures have affected every aspect of our lives, from health and social dynamics to economic stability and educational opportunities. We take pride in our organisation's ability to adapt and thrive, driven by the unwavering commitment and flexibility of our team, bolstered by the unwavering support and engagement of our beneficiaries. These trials have been an impetus for innovation, prompting us to rethink our strategies, form valuable partnerships, and foster collaborative efforts. We've explored new and creative fundraising avenues, and while we've faced challenges, there have also been remarkable gains in motivation, well-being, and emotional resilience for all involved. In the period of 2022-2023, we continued to make a positive impact by expanding access to free or discounted supplementary education sessions for children and young people, facilitating more individuals' journeys toward employment or education, and creating additional opportunities for extracurricular activities and enhanced well-being. As we look forward to the coming years, our focus remains clear: we are determined to build on our successes, sustain our efforts, and maximise our impact. Our vision is to provide children, young people, and families with an even brighter future, filled with boundless possibilities and opportunities. Warm regards, Hakan Gokce Chair of the Board of Trustees ## **Board of Trustee Report** ## FOR THE PERIOD ENDED 31 AUGUST 2023 The trustees present their annual report along with the audited financial statements of the charity for the period ended 31 August 2023. 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 feecharging. - 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. ## **Our Vision and Objectives** To become a key player in creating education opportunities and life chances for children, young people and families of disadvantaged backgrounds Our vision will be realised through the delivery of four key objectives articulated as commitments to the local community as described in the Memorandum of Association **----- Start of picture text -----**
1
**----- End of picture text -----**
the advancement of education of children and young people by tackling the inequalities and developing their skills, capacities and capabilities through establishment of supplementary education opportunities **----- Start of picture text -----**
2
**----- End of picture text -----**
## 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 **----- Start of picture text -----**
3
**----- End of picture text -----**
providing mentoring and mental health support for young people 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 to the families especially in the time of crisis ## **Our Strategy** The Axis Educational Trust fulfills its mission by establishing and operating various educational and community support programs, including Tuition centres, supplementary schools, holiday activity programmes, youth clubs, sports activities and adult training groups in form of paid, partly paid or free community projects aimed at assisting disadvantaged or vulnerable people. In executing these initiatives, the charity diligently applies its antidiscrimination, equal opportunity, safeguarding, and inclusion policies, ensuring that all members of the public can benefit from its provisions, services, and activities. When setting objectives and planning activities, the Trustees carefully consider the Charity Commission’s general guidance on public benefit, advancing education, and fee-charging. Thanks to the tuition income and available grant funding, we were able to offer free tuition or up to 50% scholarships to disadvantaged children and lowincome families struggling financially. The Trust has also been proactive in providing online services and courses in addition to its in-centre offerings. Significant investments were made in technology and staff training to ensure continuous and effective delivery of our programs. Key Activities of the Trust During This Period: - Intensive Group and One-to-One Support: Providing targeted literacy, numeracy, and science assistance. - Evening and Weekend Learning Programs: Offering structured learning opportunities on weekdays and weekends. - Homework Clubs and Booster Classes: Supporting SATs, GCSE/A-Level, and 11+ students through additional instructional sessions. - Youth and NEET Skilling Up and Adult Employability Training: Enhancing skills and employability for young people not in education, employment, or training, as well as adults seeking job opportunities. - Teacher Training Workshops and Seminars: Facilitating professional development for intern tutors. - Holiday Activity and Food Programs: Organising engaging activities and ensuring nutritional support during school holidays. - Sports and Arts Wellbeing Projects: Promoting physical and mental wellbeing through sports and arts initiatives. ## **Axis Tuition Centres** Axis Tuition Centres prioritize the two most critical aspects of the curriculum— Literacy and Numeracy—to maximize the impact on a child's education without requiring excessive time commitment. Program Overview: Our scheme enhances the literacy and numeracy skills of children in Key Stages 1 and 2. Children aged 6-12 engage in 3 hours of quality learning on weekends or 2 hours per subject during weekday evenings to improve their reading, writing, arithmetic, and creative thinking abilities. Additionally, we offer SATs and 11 Plus exam preparation courses that include verbal and non-verbal reasoning and creative writing. Starting from Key Stage 3, science lessons are incorporated into the scheme. For GCSE students, we provide group sessions of at least 2 hours per subject per week in English, Maths, and Science. Other subjects and A-Level students receive one-on-one instruction to address their individual needs. Unique Learning Materials and Resources: To ensure our students receive the best supplementary education, we develop unique learning materials tailored to the needs of each child. Our tutors use these bespoke resources to deliver engaging and effective lessons. Each week, students receive specially designed booklets that cover the key topics for their age group and curriculum requirements. These booklets are carefully crafted to reinforce classroom learning and build upon their existing knowledge. Homework and Progress Tracking: Regular homework is an integral part of our program, ensuring that students continue to practice and refine their skills outside of tutoring sessions. Our tutors assign meaningful and manageable homework tasks that complement the weekly lessons. Progress is meticulously tracked through regular assessments and feedback, allowing us to identify areas where students may need additional support and to celebrate their achievements. Parental Engagement: We believe that involving parents in their child's education is crucial for success. To facilitate this, we provide weekly and termly reports that detail each student’s progress, strengths, and areas for improvement. These reports keep parents informed and engaged, allowing them to support their child's learning journey effectively. Additionally, we hold regular parent-tutor meetings to discuss student progress, set goals, and address any concerns or questions parents may have. ## **Axis Tuition Centres** Axis Tuition Centres recruit young people to be trained as tutors, develop unique learning materials, and pioneer supplementary education activities for our charity or partners. We provide guidance services for teacher candidates who are offered voluntary and paid positions at supplementary schools, gaining valuable experience that boosts their confidence in applications and studies and in their first year of teaching. We also deliver specialised teacher training and centre manager training programs for overseas-qualified teachers, primarily refugees in the UK, creating work experience opportunities for them. Our tuition centres are predominantly managed by these individuals. ## Impact and Community Benefits: Our experience demonstrates that these schools significantly help keep students focused on their learning and away from outside temptations, including crime. They also foster an environment where parents can connect with others who share similar values and a commitment to creating a society that values educated individuals who recognize and appreciate their broader social responsibilities. Our well-established website, www.tuitioncentres.org testify to the program's popularity. ## Achievements: We are extremely pleased to report that last year we met our academic targets with the following results: - 100% of our GCSE students achieved grades between 5-9. - 85% of all primary school and KS3 students, who continued the program for a minimum of two terms, achieved progress in their school attainment. ## Financial Accessibility: During the 2022-2023 academic term, Axis Tuition Centres charged a subsidized fee of £12 per hour for children who could afford to pay. We also provided financial assistance to those receiving free school meals or universal credit, ensuring that financial constraints did not hinder any child's educational progress. By focusing on these critical educational areas and maintaining a strong community and support network, Axis Tuition Centres continue to make a significant impact on the lives of young learners and their families. ## **Supplementary Education** We have tried expanding outside London in the 2022-23 academic years to meet the growing demand for free English and Maths classes. We provided _**free or discounted**_ **1180** English, Maths and Science lessons in supplementary education centres **7** in Barnet, Enfield, Reading, Croydon, Cardiff and online to children and young people **195** aged 6-18 costing **£25,000** Supplementary Education Projects funded by: ## **The Problem** Children and Young people from disadvantaged backgrounds do not benefit from statutory education as much as their peers due to financial , language or motivational barriers and face various problems like low attainment, poor mental health, lack of social integration or exploitation by criminal groups. The added stress and pressures at home as a result of Covid-19 and cost of living crisis had worsened the situation far many children and young people in terms of mental health and access to vital education, interaction and support. **My children aged 9 and 14 missed a lot during our asylum period in the UK. We eventually moved in Barnet and they enrolled schools but they were struggling. We got full bursary from Axis Educational Trust. Their support in the most needed time was very meaningful. My children closed the gap in learning gradually and they are both achieving well now. A.G.** We do not speak English at home and there is nobody to help my daughter with the school lessons. She took the free assessment from Axis Tuition Centre in North Finchley and encouraged to join GCSE lessons there. She got 9s and 8s in her exams. We are thankful for making the course affordable for us. It made a big difference. O.K. ## **Our Impact** - eliminated the inequality by creating opportunities for learning - developed and maintained literacy, numeracy, functional, cognitive and problemsolving skills - boosted their confidence and self-discipline of these children. - improved school attainment, broadened lifetime opportunities, and encouraged social cohesion - eased the financial burden on parents, reduced the domestic pressures improved the mental health and general wellbeing - provided a safe place and supervision for vulnerable children and reduced the risk of exploitation ## **ESOL&Employability Training** Consulting to our young and adult beneficiaries, we developed tailormade up-skilling and career development programmes for NEET and refugees. We provided participants with **35** _**career development training**_ **90** GCSE and Functional Skills classes **120** personalised coaching sessions **70** costing **£27,000** Employability Projects funded and partnered by: ## **The Problem** Immigrants arriving in the UK must navigate complex training and job search procedures, and they often continue to face substantial barriers to integration as they might be lacking language skills, and UK-based qualification and work experience. Young people from marginalised communities are similarly more likely to be NEET or underemployed due to the barriers such as the lack of guidance, signposting, and financial resources. This "employment gap" has a negative effect on individual life chances that endures, imposing a high cost on them, society, and our economy. Teaching has been my biggest desire in life and I have always loved and cherished my students. When life forced me to seek asylum in the UK, I felt lost and far from pursuing my teaching career here. Axis Career School motivated and equipped me well with carefully selected training and work experience sessions. Here I am, doing my PGCE in Oxford. A.L. The senior leaders at Axis personally helped me develop my CV, prepared me for interviews and referred to a school to gain UK experience. GCSE classes ensured that I could pass the tests to get accepted to school based teacher training programme. I have now started to work as a Maths teacher in my placement school. My dreams came true. Thanks. B.O. ## **Our Impact** - increased in skills held by local youth and reduced the numbers of youth labelled as NEET - gave valuable personal and work experiences to marginalised groups. achieved higher motivation with direct intervention and grassroots approach providing extracurricular classes, employability workshops, academic and career advice and mental wellbeing support. - improved volunteering, leadership, teamwork, and time management. - increased their likelihood of becoming employed, pursuing higher education or further training. - 65% of participants got into employment, apprenticeship or further training over two years helped the shortages in schools and NHS ## **Wellbeing Projects** Arts and Sports activities, mental health support and food provision during school holidays ensured that our children and young people are healthy physically and mentally. children and young people **90** benefited from **60** _**[ mentoring and social action sessions]**_ **380**[Art and Sports Sessions] **450**[ Free Meals] costing **£30,000** ## Wellbeing Projects funded and partnered by: ## **The Problem** Many families cannot afford to send their children to club and extra-curricular activities as a result of increasing cost whereas children and young people need wellbeing support and enrichment activities more than ever after long period of inactivity during Covid-19 pandemic. Many children of unemployed or working families go to bed hungry during school holidays. They also become more vulnerable to the negative effects of screen addictions and dangers of streets. The lack of structured activities, mentoring and mental health support affect he children’s attainment, self-confidence, personal development and wellbeing negatively. **The summer holiday activities, energy and staff were absolutely amazing and definitely helped us mentally and financially this summer. I can’t thank Axis Education enough for engaging my children with sports, fun and learning when It needed most in these hard times. My children were grateful. Well done all! S.G.** I know only too well that the holidays can be a really difficult time for families who are struggling. It's such a weight off their shoulders to know that there is a safe space for their children to go, where their minds can be stimulated, and where they are guaranteed at least one meal a day. Marcus Rashford ## **Our Impact** - provided safe environment for the children who come from challenging circumstances, be it low-income families, families who are new to the country who normally wouldn't be able to afford such activity programmes. - children and families benefited from a range of art, and sports sessions which helped them build self-confidence, self-esteem, higher aspirations, leadership skills and team spirit. - developed new skills, interest in reading and good habits - increased parental involvement and awareness for healthy eating and wellbeing of children - relieved pressure points for some families during school holidays as a result of increased costs and reduced incomes. - supported children who may be more likely to experience ‘unhealthy holidays’ in terms of nutrition and physical health. ## **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 2023 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: 25 June 2024 19 ## **THE AXIS EDUCATIONAL TRUST STATEMENT OF FINANCIAL ACTIVITIES** ## **(Incorporating income and expenditure account) FOR THE YEAR ENDED 31 AUGUST 2023** |**Unristricted**
**Notes**
**Funds**
**INCOME AND EXPENDITURES**
**£**
**INCOMING RESOURCES**
Incoming resources from generated funds:
Voluntary income
2
91477
Activities for generating funds
3
0
Investment income
4
269548
Incoming resources from charitable activities
5
219340
Other incoming resources
6
10683
**TOTAL INCOMING RESOURCES**
591048
**RESOURCES EXPENDED**
charitable Activities
7
454915
Governance Costs
8
38135
Other resources expended
9
0
**TOTAL RESOURCES EXPENDED**
11
493050
**NET INCOMING/(OUTGOING) RESOURCES**
**before transfers**
**21**
97998
**Transfersbetween funds**
-
**NET MOVEMENT IN FUNDS FOR THE YEAR**
97998
**Total Funds at 1 September 2022**
2020526
Prior Year Adjustment (Note 20)
0
**Total Funds at 31 AUGUST 2023**
2118524
=====|**Restricted**
**Funds**
**£**
98447
0
0
0
-
98447
67664
6700
0
74364
24083
-
24083
-24083
0
0
=====|**2023**
**Total**
**£**
189,924
0
269548
219340
10683
689495
522579
44835
0
567414
122081
-
122081
1996443
0
2118524
=====|**2022**
**Total**
**£**
141,369
8910
224659
179267
1256| |---|---|---|---| ||||555461| ||||408072
54506
0| ||||462578| ||||92883
-| ||||92883
1903560
0
1996443
=====| The notes on pages 12 to 22 form part of these accounts. 20 ## **THE AXIS EDUCATIONAL TRUST** ## **BALANCE SHEET AS AT 31 AUGUST 2023** |**Notes**
**2023**
**₤**
15
29760
Programme related investments
**16**
2886026
2915786
Debtors
**17**
24400
Investments
61667
127300
213367
**18**
(115831)
**19**
(894798)
2118524
**=====**
**21**
0
**21**
2118524
2118524
**=====**
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
**FIXED ASSETS**
Tangible assets
**CURRENT ASSETS**
Cash at bank and in hand
Restricted funds
**CHARITY FUNDS**|**2022**
**₤**
33066
2886026| |---|---| ||2919092
11125
61667
100016| ||172808
(54114)| ||(1041343)| ||1996443
**=====**
-24083
2020526| ||1996443
**=====**| The notes on pages 16 to 24 from part of these accounts. Approved by the Board of Trustees on 25 June 2024 and signed on its behalf by Hakan Gokce, Chairman Hakan Gokce Chairman 21 **THE AXIS EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** ## **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. 22 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** ## **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**
**£**
80599
10878
91477
**Unristricted**
**Funds**
**£**
0|**Restricted**
**Funds**
**£**
0
98447
98447
**Restricted**
**Funds**
**£**
-
0|**2023**
**Total**
**£**
80599
109325
189924
**2023**
**Total**
**£**
0
0|**2022**
**Total**
**£**
19010
122359| |---|---|---|---|---| |||||141369| |||||**2022**
**Total**
**£**
8910| |||||8910| 23 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** |**4. INVESTMENTINCOME**
**Unristricted**
**Funds**
**£**
Rental Income
269548
**5. INCOMING RESOURCES FROM CHARITABLE**
**Unristricted**
**Funds**
**£**
Educational Activities
219340
**6. OTHER INCOMING RESOURCES**
**Unristricted**
**Funds**
**£**
Other incoming resources
10683
**7. EXPENDITURE BY CHARITABLE ACTIVITY**
**SUMMARY BY FUND TYPE**
**Unristricted**
**Funds**
**£**
Total Expenses
0
Educational Activities
493050
493050
**SUMMARY BY EXPENDITURE TYPE**
**Staff**
**Costs**
**£**
Investment Income
0
Educational Activities
271913
271913|**Restricted**
**2023**
**Funds**
**Total**
**£**
**£**
0
269548
**ACTIVITIES**
**Restricted**
**2023**
**Funds**
**Total**
**£**
**£**
0
219340
**Restricted**
**2023**
**Funds**
**Total**
**£**
**£**
0
10683
**Restricted**
**2023**
**Funds**
**Total**
**£**
**£**
0
0
74364
567414
74364
567414
**Other**
**2023**
**Costs**
**Total**
**£**
**£**
62935
62935
232566
504479
295501
567414|**2022**
**Total**
**£**
224659| |---|---|---| |||**2022**
**Total**
**£**
219340| |||**2022**
**Total**
**£**| |||10683| |||**2022**
**Total**
**£**
0
408072| |||408072| |||**2022**
**Total**
**£**
0
408072| |||408072| 24 ## **THE AXIS EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** |**8. GOVERNANCE COSTS**
**Unrestricted**
**Funds**
**£**
Governance- Accountants fees
1500
Governance - Other expenses
305
Governance - Premises costs for head office
3910
Governance - telephone
350
Governance expense - computer expenses
557
Governance expense - wages and salaries
21991
Governance expense - NI
6216
Governance - depreciation - tangible fixed assets
3306
38135
====
**9. OTHER RESOURCES EXPENDED**
**Unrestricted**
**Funds**
**£**
Loss((profit) on disposal of fixed asset
0
====
**10. DIRECT COSTS**
**Allocation Unrestricted**
**£**
Other expenses
Direct
2740
Bursaries and scholarships
Direct
21800
Staff training and welfare
Direct
129
Premises
Direct
35187
Insurance
Direct
4740
Consultancy fees
Direct
3150
Professional fees
Direct
7903
Printing, Postage and Stationary
Direct
365
Equipment Hire
Direct
511
Student Related costs
Direct
1661
Telephone
Direct
3146
Travel and substance
Direct
6165
Repairs and Renewals
Direct
5047
Bank Charges
Direct
424
Credit Card Charges
Direct
1012
Subscriptions
Direct
71
Miscellaneous
Direct
11962
Advertising
Direct
10701
Interest
Direct
62935
Computer costs
Direct
5018
Wages and salaries
Direct
197922
Pension
Direct
788
Purchases
Direct
71538
454915
====|**Unrestricted**
**Funds**
**£**
1500
305
3910
350
557
21991
6216
3306|**Restricted**
**Funds**
**£**
1500
5200
6700
====
**Restricted**
**Funds**
**£**
0
====
**Restricted**
**£**
13500
3500
1250
46800
2614
67664
====|**2023**
**Total**
**£**
1500
305
5410
350
557
27191
6216
3306|**2022**
**Total**
**£**
1500
461
4579
268
900
35428
8096
3274| |---|---|---|---|---| ||38135
====
**Unrestricted**
**Funds**
**£**||44835
====
**2023**
**Total**
**£**|54506
====
**2022**
**Total**
**£**| ||||0
====
**2023**
**Total**
**£**
2740
21800
129
48687
4740
6650
7903
1615
511
1661
3146
6165
5047
424
1012
71
11962
10701
62935
5018
244722
788
74152|0
====
**2022**
**Total**
**£**
0
12000
8703
41215
5620
1400
287
1663
2407
0
2411
3188
1293
753
144
470
4145
19748
36465
8098
246850
986
10226| ||454915
====||522579
====|408072
====| 25 **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** ## **11. ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE** |**Staff Costs**
**Depreciation**
**Other Costs**
**2023**
**£**
**£**
**£**
**£**
Investment Income
0
0
62935
62935
Educational Activities
238506
0
221138
459644
**Charitable activities**
238506
0
284073
522579
**Governance**
33407
3306
8122
44835
**Loss on disposal of fixed assets**
0
0
0
0
271913
3306
292195
567414
**12. ANALYSIS OF RESOURCES EXPENDED BY ACTIVITIES**
**Activities undertaken**
**Total**
**Directly**
**Support Costs**
**2023**
**£**
**£**
**£**
Investment Income
454915
0
454915
Educational Activities
67664
44835
112499
**Total**
522579
44835
567414|**2023**
**£**
62935
459644|**2022**
**£**
0
408072| |---|---|---| ||522579|408072| ||44835
0|54506
0| ||567414|462578| |||**Total**
**2022**
**£**
0
462578| ||567414|462578| ## **13. NET INCOMING RESOURCES** This is stated after charging: |**13. NET INCOMING RESOURCES**
This is stated after charging:||| |---|---|---| ||**2023**|**2022**| ||**£**|**£**| |Depreciation of tangible fixed assets: owned by charity|3306|3274| |Auditor's remuneration|0|0| |Governance Accountant fees|1500|1500| During the year, no Trustees received any remuneration (2022 -£NIL). During the year, no Trustees received any benefits in kind (2022 -£NIL). During the year, no Trustees received any reimbursement of expenses (2022 -£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:|**2023**
**£**
271913
6216
278129
**2023**
**No.**
13|**2022**
**£**
282278
18322| |---|---|---| |||300600| |||**2022**
**No.**
10| No employee received remuneration amounting to more than £60,0O0 in either year. 26 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** ## **15. TANGIBLE FIXED ASSETS** |**15. TANGIBLE FIXED ASSETS**|| |---|---| |**Cost**
At 31.08.22
Additions
At 31.08.23
**Depreciation**
At 31.08.22
charge for period
At 31.08.23
**Net book values**
**At 31.08.23**
**At 31.08.22**|**TOTAL**
**£**
124525
0| ||124525| ||91459
3306| ||94765| ||29760| ||33066| ## **16. PROGRAMME RELATED INVESTMENT** |Market Value
At 31 August 2023
At 31 August 2022|**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 £939609 (2022: £1045162) are owed in relation to the Programme Related Investments held. 27 ## **THE AXIS EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** ## **17. DEBTORS** |**EBTORS**||| |---|---|---| ||**2023**|**2022**| ||**£**|**£**| |Due after more than one year||| |Other Debtors|**0**|**0**| |Due within one year||| |Trade debtors|0|11125| |Other debtors|24400|0| ||24400|11125| ## **18. CREDITORS:** Amount falling due within one year |**2023**
**£**
Bank loans and Overdraft
73086
Trade creditors
1846
Other taxation and social security
4779
Other creditors
31590
Accruals and deferred income
4530
115831|**2022**
**£**
37577
27
8423
5072
3015| |---|---| ||54114| ## **19. CREDITORS:** Amount falling due after one year ||**2023**|**2022**| |---|---|---| ||**£**|**£**| |Bank loans|894798|1016343| |Other creditors||25000| ||894798|1041343| |Creditors include amounts not wholly repayable within 5 years as follows:||| ||**2023**|**2022**| ||**£**|**£**| |Repayable by instalments|605250|650250| Bank loans are secured by way of a charge over the freehold buildings of the charity. 28 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** ## **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**
**£**
2020526
2020526
-24083
1996443
**Restated**
**Brought**
**Forward**
**£**
1996443
0
1996443|**Incoming**
**Resources**
**£**
591048
591048
98447
689495
**Incoming**
**Resources**
**£**
591048
98447
689495|**Resources**
**Expended**
**£**
(493050)
(493050)
(74364)
(567414)
**Resources**
**Expended**
**£**
(493050)
(74364)
-567414|**Transfers**
**In/Out**
**£**
0|**Carried**
**Forward**
**£**
2118524| |---|---|---|---|---|---| |||||0|2118524| |||||0|0| |||||0|2118524| |||||**Transfers**
**In/Out**
**£**
0
0|**Carried**
**Forward**
**£**
2094441
24083| |||||0|2118524| 29 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** ## **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**
**2023**
**2022**
**£**
**£**
**£**
£
29760
0
29760
15097
2886026
0
2886026
2886026
0
0
0
0
210324
3043
213367
190395
(115831)
0
(115831)
(83794)
(894798)
0
(894798)
(1104164)| |---|---| ||**2115481**
**3043**
**2118524**
**1903560**| ## **23. RELATED PARTY TRANSACTIONS** There was not any related party transaction with any of the trustees this year and last year. 30