**REGISTERED CHARITY NUMBER: 1041474** ## **THE AXIS EDUCATIONAL TRUST** ## **TRUSTEES’ REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED** **31 AUGUST 2024** ## **THE AXIS EDUCATIONAL TRUST** |**Contents**|**Page**| |---|---| |Legal and administrative information|2| |Trustees’ Report|3 - 12| |Accountant’s Report|13| |Statement of Financial Activities|14| |Balance Sheet|15| |Notes to the Financial Statements|16 – 24| 1 ## **THE AXIS EDUCATIONAL TRUST** ## **Legal and administrative information** ## **Trustees** Sevgi Iz (Treasurer - Trustee) ## **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 EDUCATIONAL TRUST 11 For the period ended 31 August 2024 ## **Welcome** On behalf of the Board of Trustees, I warmly welcome you to the 2024 Trustees' Report of Axis Educational Trust. This year marks a special milestone in our history as we prepare to celebrate the 30th anniversary of our founding. Planning is well underway for a spectacular Gala Night and Talent Contest later in the year, where we aim to showcase the achievements of our students and community. We anticipate the event will be attended by the Mayor, councillors, artists, and members of the public, and will reflect how far we have come in our mission to empower, educate, and elevate the communities we serve. Despite continued economic challenges, Axis Educational Trust has remained resilient, expanding its impact through dynamic partnerships, targeted funding, and a highly motivated team. Our strategic focus on supplementary education, youth development, and community wellbeing has delivered tangible outcomes for disadvantaged communities across Enfield, Barnet, and Kent. In response to the increasing demand for youth and family services-particularly due to rising migration and refugee settlement in the Barnet and Enfield boroughs-our Board has approved plans to purchase a dedicated Youth and Community Centre in East Barnet. We are actively pursuing a mix of donation campaigns and loan financing to make this vision a reality. The new centre will provide a permanent, safe, and inclusive space for learning, mentoring, social action and well-being services. Warm regards, Sevgi Iz On behalf of the Board of Trustees Board of Trustee Report FOR THE PERIOD ENDED 31 AUGUST 2024 The trustees present their annual report along with the audited financial statements of the charity for the period ended 31 August 2024. The trustees conf irm that the Annual report and f inancial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the CharIt￿S trust deed, the Charities Act1993 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 Ilth July1994 and as amended on15 January 2021 and is a registered charity, number1041474. 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 benef it and to its supplementary public benef it 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 brief ings on Trust activities. Organisational structure and decision making The Axis Educational Trust is a registered charity, number 1 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 f inances of the charity and are satisf led 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 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 11 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 providing mentoring and mental health support for young people particularly through the provision of sports and arts activities 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 KEY PROJECTS AND ACHIEVEMENTS (2023~2024) l. Skill Up & Youth Empowerment Projects Delivered across Barnet (funded by John Lyons Charity), Enfield (by City Bridge Foundation), and Kent (by Colyer Fergusson Charitable Trust). Supported over 90 young people with skilling sessions, career advice, mentoring, and creative arts programmes. Resulted in 65% engagement in further education, apprenticeships or employment. "The Skill Up programme gave me not just career skills, but a sense of purpose and support I never had bef ore." Project participant 2. Supplementary Education & Mentoring Axis delivers tuition centres, youth clubs, holiday activity programmes and adult training groups across North London and Kent. These are offered as paid, subsidised, or f ree community projects focused on supporting disadvantaged and vulnerable residents. Our work strictly follows safeguarding, inclusion, and anti-discrimination policies, ensuring all benef iciaries are treated equally. Trustees regularly review Charity Commission guidance to balance public benef it and f ee-charging policies. Thanks to tuition income and grants, we were able to offer free or subsidised education (up to 50 % scholarships) to children from low-income families. We also enhanced our digital offering and staff training to provide high-quality blended learning across centres. Key activities delivered: Tuition centres offering regular academic support across core subjects One-to-one and small group tuition in English, Maths, and Science Evening and weekend sessions including homework clubs and booster classes SATS, Il+ and GCSE preparation courses NEET and adult employability support Teacher training programmes, particularly for young tutors and overseas- qualified refugees Holiday Activity and Food programmes with academic and wellbeing components Sports and arts-based wellbeing sessions to improve physical and emotional resilience We prioritise core skills-literacy and numeracy-and tailor programmes for Key Stages1-4. Students receive customised weekly booklets, complete homework, and are assessed regularly. Parents are kept informed through weekly and termly reports, and we run review meetings to align learning goals. For GCSES, we offer 2+ hours per subject weekly. A-Level students and others requiring intensive support receive personalised sessions. Our centres are largely managed by former programme graduates and refugee professionals who have completed our training. We're proud that our community-based model also strengthens social bonds, offering safe, focused learning environments and opportunities for parents to connect. "Axis helped my son not just academically but emotionally too. The support has been a lifeline. Parent feedback Outcomes: 100 % of GCSE students achieved grade 5-9 last year. 85 % of KSI-KS3 students showed progress after two terms. To ensure access, we kept fees low (£121hour for most students), and provided f ull or partial support to families on Universal Credit or f ree school meals. 3. Holiday Activities and Food (HAF) Programmes Funded by Barnet Council, our HAF clubs served 120 children during Easter, summer, and winter breaks. Offered engaging academic, arts, and sports activities with daily healthy meals. Provided over1,500 hours of structured learning and recreation. "Axis Holiday Club helped my kids learn and grow through fun and care-just what every family needs in tough times." Parent feedback 4. Wellbeing through Arts, Mentoring & Sports Delivered 60 group sessions on mental health and personal growth. Organised 370 hours of sports and creative arts sessions. Worked with children and teenagers most at risk of social isolation or school exclusion. PARTNERSHIPS AND COMMUNITY ENGAGEMENT We are proud of our growing collaboration with: London Youth Young Barnet Foundation Enf ield Voluntary Action Inclusion Barnet Local schools and voluntary sector organisations These partnerships have been vital in reaching marginalised communities, coordinating services, and raising the standard of provision across boroughs. LOOKING AHEAD As we move into the next phase of our journey, Axis Educational Trust remains committed to: Expanding youth and refugee employability pathways Embedding wellbeing support in all our academic programmes Increasing family engagement and parental involvement Sustaining high-quality tuition through hybrid models (in-person and online) Establishing our new Youth and Community Centre in East Barnet as a f lagship hub f or our local service delivery With gratitude to our f unders, supporters, staff, and volunteers, we look f orward to building a more inclusive and opportunity-rich future. Financial Summary and Accounts Please refer to our audited financial statements for detailed income, expenditure, and f unding breakdown. II'A ## **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 14 to 24 ## **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 2025 13 ## **THE AXIS EDUCATIONAL TRUST STATEMENT OF FINANCIAL ACTIVITIES** ## **(Incorporating income and expenditure account) FOR THE YEAR ENDED 31 AUGUST 2024** |**Unristricted**
**Notes**
**Funds**
**INCOME AND EXPENDITURES**
**£**
**INCOMING RESOURCES**
Incoming resources from generated funds:
Voluntary income
2
73292
Activities for generating funds
3
0
Investment income
4
257400
Incoming resources from charitable activities
5
231392
Other incoming resources
6
43624
**TOTAL INCOMING RESOURCES**
605708
**RESOURCES EXPENDED**
charitable Activities
7
456270
Governance Costs
8
44869
Other resources expended
9
0
**TOTAL RESOURCES EXPENDED**
11
501139
**NET INCOMING/(OUTGOING) RESOURCES**
**before transfers**
**21**
104569
**Transfersbetween funds**
-
**NET MOVEMENT IN FUNDS FOR THE YEAR**
104569
**Total Funds at 1 September 2023**
2118524
Prior Year Adjustment (Note 20)
0
**Total Funds at 31 AUGUST 2024**
2223093
=====|**Restricted**
**Funds**
**£**
71762
0
0
0
-
71762
65805
6100
0
71905
-143
-
-143
0
0
-143
=====|**2024**
**Total**
**£**
145,054
0
257400
231392
43624
677470
522075
50969
0
573044
104426
-
104426
2118524
0
2222950
=====|**2023**
**Total**
**£**
189,924
0
269548
219340
10683
689495
522579
44835
0
567414
122081
-
122081
1996443
0
2118524
=====| |---|---|---|---| The notes on pages 16 to 24 form part of these accounts. 14 ## **THE AXIS EDUCATIONAL TRUST** ## **BALANCE SHEET AS AT 31 AUGUST 2024** |**BALANCE SHEET**
**AS AT 31 AUGUST 2024**||||| |---|---|---|---|---| ||**Notes**||**2024**|**2023**| |**FIXED ASSETS**|||**₤**|**₤**| |Tangible assets||15|35085|29760| |Programme related investments||**16**|2886026|2886026| ||||2921111|2915786| |**CURRENT ASSETS**||||| |Debtors||**17**|33996|24400| |Investments|||61667|61667| |Cash at bank and in hand|||137716|127300| ||||233379|213367| |**CREDITORS:**Amounts falling due||||| |within one year||**18**|(132555)|(115831)| |**Net current assets / (liabilities)**||||| |**CREDITORS:**Amounts falling due||**19**|(798985)|(894798)| |more than one year||||| |**Total assets less current liabilities**|||2222950|2118524| ||||**=====**|**=====**| |**CHARITY FUNDS**||||| |Restricted funds||**21**|-143|0| |Unrestricted funds||**21**|2223093|2118524| ||||2222950|2118524| ||||**=====**|**=====**| 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 Sevgi Iz, Treasurer Sevgi Iz Treasurer (Trustee) 15 **THE AXIS EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024** ## **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. 16 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024** ## **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**
**£**
58345
14947
73292
**Unristricted**
**Funds**
**£**
0|**Restricted**
**Funds**
**£**
0
71762
71762
**Restricted**
**Funds**
**£**
-
0|**2024**
**Total**
**£**
58345
86709
145054
**2024**
**Total**
**£**
0
0|**2023**
**Total**
**£**
80599
109325| |---|---|---|---|---| |||||189924| |||||**2023**
**Total**
**£**
0| |||||0| 17 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024** |**4. INVESTMENTINCOME**
**Unristricted**
**Funds**
**£**
Rental Income
257400
**5. INCOMING RESOURCES FROM CHARITABLE**
**Unristricted**
**Funds**
**£**
Educational Activities
231392
**6. OTHER INCOMING RESOURCES**
**Unristricted**
**Funds**
**£**
Other incoming resources
43624
**7. EXPENDITURE BY CHARITABLE ACTIVITY**
**SUMMARY BY FUND TYPE**
**Unristricted**
**Funds**
**£**
Total Expenses
0
Educational Activities
501139
501139
**SUMMARY BY EXPENDITURE TYPE**
**Staff**
**Costs**
**£**
Investment Income
0
Educational Activities
270412
270412|**Restricted**
**2024**
**Funds**
**Total**
**£**
**£**
0
257400
**ACTIVITIES**
**Restricted**
**2024**
**Funds**
**Total**
**£**
**£**
0
231392
**Restricted**
**2024**
**Funds**
**Total**
**£**
**£**
0
43624
**Restricted**
**2024**
**Funds**
**Total**
**£**
**£**
0
0
71905
573044
71905
573044
**Other**
**2024**
**Costs**
**Total**
**£**
**£**
70326
70326
232306
502718
302632
573044|**2023**
**Total**
**£**
269548| |---|---|---| |||**2023**
**Total**
**£**
231392| |||**2023**
**Total**
**£**| |||10683| |||**2023**
**Total**
**£**
0
567414| |||567414| |||**2023**
**Total**
**£**
62935
504479| |||567414| 18 ## **THE AXIS EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024** |**8. GOVERNANCE COSTS**
**Unrestricted**
**Funds**
**£**
Governance- Accountants fees
1500
Governance - Other expenses
50
Governance - Premises costs for head office
7917
Governance - telephone
446
Governance expense - computer expenses
851
Governance expense - wages and salaries
22991
Governance expense - NI
7808
Governance - depreciation - tangible fixed assets
3306
44869
====
**9. OTHER RESOURCES EXPENDED**
**Unrestricted**
**Funds**
**£**
Loss((profit) on disposal of fixed asset
0
====
**10. DIRECT COSTS**
**Allocation Unrestricted**
**£**
Other expenses
Direct
Bursaries and scholarships
Direct
31040
Staff training and welfare
Direct
2314
Premises
Direct
71254
Insurance
Direct
5748
Consultancy fees
Direct
0
Professional fees
Direct
7451
Printing, Postage and Stationary
Direct
4546
Equipment Hire
Direct
515
Student Related costs
Direct
4900
Telephone
Direct
4017
Travel and substance
Direct
1619
Repairs and Renewals
Direct
311
Bank Charges
Direct
599
Credit Card Charges
Direct
Subscriptions
Direct
573
Miscellaneous
Direct
1374
Advertising
Direct
5211
Interest
Direct
70326
Computer costs
Direct
7662
Wages and salaries
Direct
201421
Pension
Direct
521
Purchases
Direct
34868
456270
====|**Unrestricted**
**Funds**
**£**
1500
50
7917
446
851
22991
7808
3306|**Restricted**
**Funds**
**£**
1500
4600
6100
====
**Restricted**
**Funds**
**£**
0
====
**Restricted**
**£**
13500
200
1790
5120
41400
3795
65805
====|**2024**
**Total**
**£**
1500
50
9417
446
851
27591
7808
3306|**2023**
**Total**
**£**
1500
305
5410
350
557
27191
6216
3306| |---|---|---|---|---| ||44869
====
**Unrestricted**
**Funds**
**£**||50969
====
**2024**
**Total**
**£**|44835
====
**2023**
**Total**
**£**| ||||0
====
**2024**
**Total**
**£**
0
31040
2314
84754
5748
200
7451
6336
515
10020
4017
1619
311
599
0
573
1374
5211
70326
7662
242821
521
38663|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| ||456270
====||522075
====|522579
====| 19 **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024** ## **11. ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE** |**Staff Costs**
**Depreciation**
**Other Costs**
**2024**
**£**
**£**
**£**
**£**
Investment Income
0
0
70326
70326
Educational Activities
235013
0
216736
451749
**Charitable activities**
235013
0
287062
522075
**Governance**
35399
3306
12264
50969
**Loss on disposal of fixed assets**
0
0
0
0
270412
3306
299326
573044
**12. ANALYSIS OF RESOURCES EXPENDED BY ACTIVITIES**
**Activities undertaken**
**Total**
**Directly**
**Support Costs**
**2024**
**£**
**£**
**£**
Investment Income
456270
0
456270
Educational Activities
65805
50969
116774
**Total**
522075
50969
573044|**2024**
**£**
70326
451749|**2023**
**£**
62935
459644| |---|---|---| ||522075|522579| ||50969
0|44835
0| ||573044|567414| |||**Total**
**2023**
**£**
454915
112499| ||573044|567414| ## **13. NET INCOMING RESOURCES** This is stated after charging: |**13. NET INCOMING RESOURCES**
This is stated after charging:||| |---|---|---| ||**2024**|**2023**| ||**£**|**£**| |Depreciation of tangible fixed assets: owned by charity|3306|3306| |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:|**2024**
**£**
270412
7808
278220
**2024**
**No.**
14|**2023**
**£**
271913
6216| |---|---|---| |||278129| |||**2023**
**No.**
13| No employee received remuneration amounting to more than £60,0O0 in either year. 20 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024** ## **15. TANGIBLE FIXED ASSETS** |**15. TANGIBLE FIXED ASSETS**|| |---|---| |**Cost**
At 31.08.23
Additions
At 31.08.24
**Depreciation**
At 31.08.23
charge for period
At 31.08.24
**Net book values**
**At 31.08.24**
**At 31.08.23**|**TOTAL**
**£**
124525
8631| ||133156| ||94765
3306| ||98071| ||35085| ||29760| ## **16. PROGRAMME RELATED INVESTMENT** |Market Value
At 31 August 2024
At 31 August 2023|**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 £860189 (2023: £939609) are owed in relation to the Programme Related Investments held. 21 ## **THE AXIS EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024** ## **17. DEBTORS** |**EBTORS**||| |---|---|---| ||**2024**|**2023**| ||**£**|**£**| |Due after more than one year||| |Other Debtors|**0**|**0**| |Due within one year||| |Trade debtors|0|0| |Other debtors|33996|24400| ||33996|24400| ## **18. CREDITORS:** Amount falling due within one year |**2024**
**£**
Bank loans and Overdraft
88776
Trade creditors
709
Other taxation and social security
7605
Other creditors
34130
Accruals and deferred income
1335
132555|**2023**
**£**
73086
1846
4779
31590
4530| |---|---| ||115831| ## **19. CREDITORS:** Amount falling due after one year ||**2024**|**2023**| |---|---|---| ||**£**|**£**| |Bank loans|798985|894798| |Other creditors||| ||798985|894798| |Creditors include amounts not wholly repayable within 5 years as follows:||| ||**2024**|**2023**| ||**£**|**£**| |Repayable by instalments|543750|605250| Bank loans are secured by way of a charge over the freehold buildings of the charity. 22 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024** ## **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**
**£**
2118524
2118524
0
2118524
**Restated**
**Brought**
**Forward**
**£**
2118524
0
2118524|**Incoming**
**Resources**
**£**
605708
605708
71762
677470
**Incoming**
**Resources**
**£**
605708
71762
677470|**Resources**
**Expended**
**£**
(501139)
(501139)
(71905)
(573044)
**Resources**
**Expended**
**£**
(501139)
(71905)
-573044|**Transfers**
**In/Out**
**£**
0|**Carried**
**Forward**
**£**
2223093| |---|---|---|---|---|---| |||||0|2223093| |||||0|-143| |||||0|2222950| |||||**Transfers**
**In/Out**
**£**
0
0|**Carried**
**Forward**
**£**
2223093
-143| |||||0|2222950| 23 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024** ## **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**
**2024**
**2023**
**£**
**£**
**£**
£
35085
0
35085
29760
2886026
0
2886026
2886026
0
0
0
0
233522
-143
233379
213367
(132555)
0
(132555)
(115831)
(798985)
0
(798985)
(894798)| |---|---| ||**2223093**
**-143**
**2222950**
**2118524**| ## **23. RELATED PARTY TRANSACTIONS** There was not any related party transaction with any of the trustees this year and last year. 24