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||||Page|
|---|---|---|---|
|Reference and Administrative||Details ofthe Charity, its Trustees and Advisers||
|Trustees'
Report|||2-5|
|Independent
Auditors'|Report|on the Financial Statements|6-9|
|Statement of Financial|Activities||10|
|Balance Sheet||||
|Statement ofCash Flows|||12|
|Notes to the Financial|Statements||13-23|
|Trustees|||Dr U Hoppe|||
|---|---|---|---|---|---|
||||I Redemann|||
||||Dr EThorne|||
|Company|registered|||||
|number|||2198970|||
|Charity registered||||||
|number|||1042523|||
|Registered||office|69-71 Great|Eastern Street||
||||London|||
||||EC2A 3HU|||
|Principal|Operating||R Bills|||
|Officer||||||
|Independent||auditors|Lubbock Fine||LLP|
||||Chartered
Accountants|||
||||Paternoster|House||
||||65St Paul's|Churchyard||
||||London|||
||||EC4M 8AB|||
|Bankers|||Barclays Bank||pic|
||||PO Box No|4578||
||||155 Brompton||Road|
||||London|||
||||SW3 1XD|||
||||Commerzbank|||
||||40300 Dusseldorf|||
||||Germany|||
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|||||Total|Total|
|---|---|---|---|---|---|
|||||funds|funds|
||||Note|2023f|2022|
|INCOME||||||
|Tuition fees and education||contracts||1,295,442|817,977|
|Investment
income||||1,784|109|
|TOTAL INCOME||||1,297,226|818,086|
|EXPENDITURE||||||
|Charitable
activities:||||||
|Staff costs||||545,576|609,880|
|Other operating
expenses||||897,382|449,952|
|Depreciation||||46,334|46,642|
|Interest and other|finance|costs||11,991|5,348|
|Loss on disposal of fixed||assets||1,779||
|TOTAL EXPENDITURE||||1,503,062|1,111,822|
|DEFICIT FOR THE|YEAR|||(205,836)|(293,736)|
|RECONCILIATION|OF RESERVES:|||||
|Total reserves
brought
forward||||1,382,905|1,676,641|
|Net movement
in reserves||||(205,836)|(293,736)|
|TOTAL RESERVES CARRIED FORWARD||||1,177,069|1,382,905|
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||||2023||2022|
|---|---|---|---|---|---|
||Note|||||
|NON-CURRENT
ASSETS||||||
|Tangible
fixed assets|||1,020,355||1,062,980|
|CURRENT ASSETS||||||
|Trade and other receivables||321,564||303,695||
|Cash and cash equivalents||561,301||677,514||
|||882,865||981,209||
|Creditors: amounts
falling due within one||||||
|year|10|(726,151)||(661,284)||
|NET CURRENT ASSETS|||156,714||319,925|
|TOTAL ASSETS LESSCURRENT||||||
|LIABILITIES|||1,177,069||1,382,905|
|NET ASSETS|||1,177,069||1,382,905|
|CHARITY RESERVES||||||
|Unrestricted
reserves|14||1,177,069||1,382,905|
|TOTAL RESERVES|||1,177,069||1,382,905|
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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
||||||Note|||
|Cash flows from operating||activities||||||
|Net cash|(used in)/produced|by operating|activities||17|(112,509)|(232,597)|
|Cash flows from investing||activities||||||
|Bank interest receivable||||||1,784|109|
|Purchase|oftangible
fixed assets|||||(5,488)|(36,454)|
|Net cash|used
in investing|activities||||(3,704)|(36,345)|
|Change|in cash and cash|equivalents|in|the year||(116,213)|(268,942)|
|Cash and|cash equivalents|at the beginning||ofthe year||677,514|946,456|
|Cash and cash equivalents||at the end|of|the year|18|561,301|677,514|
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|following
basis:||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Depreciation
is|provided|on|the|following|bases:|||||
|Freehold|property|||-|2'/o straight|line||||
|Equipment||||-|20/o/30/o|reducing|balance/20'/o|straight|line|
|Property|improvements|||-|5'/o straight|line||||
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|ANALYSIS|OF TUITION FEESAND EDUCATION
CON|TRACTS||
|---|---|---|---|
|||2023f|2022f|
|Course fees and related income||1,238,441|790,222|
|Discounts|allowed|(2,084)|(2,347)|
|Other fees||1,110|1,080|
|Other Income||57,975|29,022|
|||1,295,442|817,977|
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||||2023|2022|
|---|---|---|---|---|
|Bank interest receivable|||1,784|109|
||||1,784|109|
|STAFF COSTS|||||
||||2023
f.|2022f|
|Wages and salaries|||481,449|531,712|
|Social security costs|||49,232|61,846|
|Contribution
to defined|contribution|pension schemes|14,895|16,322|
||||545,576|609,880|
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|||||2023|2022|
|---|---|---|---|---|---|
|||||No.|No.|
|Number|of|Lecturers|||5|
|Number|of|Administrative|staff||10|
||||||15|
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|OTHER OPERATING EXPENSES|||
|---|---|---|
||2023|2022|
|Advertising|57,779|28,225|
|Computer costs|21,612|10,806|
|Accommodation|231,999|1,596|
|External
rent, rates and water|140,840|42,538|
|Cleaning|24,554|20,863|
|Repairs and maintenance|27,453|22,450|
|Insurance|21,462|17,512|
|General expenses|6,613|4,778|
|Travel|65,528|45,538|
|Auditors
remuneration|10,500|9,600|
|Consultancy|170,084|135,514|
|Telephone|13,215|13,847|
|Exam fees and associated costs|50,370|41,746|
|Printing,
postage and stationery|8,060|17,040|
|Light and heat|9,933|4,875|
|Staff training|1,506|3,168|
|Legal and professional
fees|24,484|18,693|
|Accountancy|11,390|11,163|
||897,382|449,952|
|INTEREST AND OTHER FINANCE COSTS|||
||2023|2022|
|Bank charges|4,435|3,597|
|Foreign currency loss|7,556|1,751|
||11,991|5,348|
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||||2023|2022|
|---|---|---|---|---|
|Auditors'|remuneration|-Audit|10,500|9,600|
|Auditors'|remuneration|- Other|480|420|
|Staff pension
contributions|||14,895|16,322|
|Depreciation|||46,335|46,642|
|Exchange|loss||7,556|1,751|
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||Freehold||Property||
|---|---|---|---|---|
||property
f|Equipment
f|improvements|Total|
|Cost or valuation|||||
|At 1 September 2022|1,302,872|132,718|452,508|1,888,098|
|Additions||2,788|2,700|5,488|
|Disposals||(68,696)||(68,696)|
|At 31 August 2023|1,302,872|66,810|455,208|1,824,890|
|Depreciation|||||
|At 1 September 2022|442,778|116,726|265,614|825,118|
|Charge for the year|20,057|3,641|22,637|46,335|
|On disposals||(66,918)||(66,918)|
|At 31 August 2023|462,835|53,449|288,251|804,535|
|Net book value|||||
|At 31 August 2023|840,037|13,361|166,957|1,020,355|
|At 31 August 2022|860,094|15,992|186,894|1,062,980|
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|||2023|2022|
|---|---|---|---|
|Trade receivables||282,632|267,081|
|Other debtors||8,622|4,290|
|Prepayments|and accrued income|30,310|32,324|
|||321,564|303,695|
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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|Trade creditors||||||157,645|18,087|
|Other taxation and||social security||||14,817|15,294|
|Other creditors||||||25,498|21,938|
|Accruals|and deferred||income|||528,191|605,965|
|||||||726,151|661,284|
|||||||2023|2022|
|||||||F|F|
|Deferred|income at 1 September||||2022|592,993|577,092|
|Resources deferred||during||the year||511,878|592,993|
|Amounts|released|from previous|||periods|(592,993)|(577,092)|
|||||||511,878|592,993|
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||||2023|2022|
|---|---|---|---|---|
|Not later than||1 year|1,944|7,502|
|Later than|1 year and not later than 5 years|||1,944|
||||1,944|9,446|
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||||2023f|2022f|
|---|---|---|---|---|
|Not later than||1 year|46,228|26,124|
|Later than|1 year and not later than 5 years||26,083||
||||72,311|26,124|
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|||Balance at 1|||Balance at|
|---|---|---|---|---|---|
|||September|||31August|
|||2022f|Income|Expenditure|2023|
|Unrestricted|Reserves|||||
|General Reserves||1,382,905|1,297,226|(1,503,062)|1,177,069|
|STATEMENT|OF RESERVES - PRIOR YEAR|||||
|||Balance at 1|||Balance at|
|||September|||31August|
|||2021f|Income
f|Expenditure|2022|
|Unrestricted|Reserves|||||
|General Reserves||1,676,641|818,086|(1,111,822)|1,382,905|
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||||2023|
|---|---|---|---|
|Tangible|fixed|assets|1,020,355|
|Current|assets||882,865|
|Creditors|due|within one year|(726,151)|
||||1,177,069|
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|ANALYS|IS O|F NET ASSETS BETWEEN FUNDS - PRIOR Y|EAR|
|---|---|---|---|
||||2022|
|Tangible|fixed|assets|1,062,980|
|Current|assets||981,209|
|Creditors|due|within one year|(661,284)|
||||1,382,905|
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||||2023|2022|
|---|---|---|---|---|
|Net expenditure
for the year|(as per Statement|of Financial Activities)|(205,836)|(293,736)|
|Adjustments
for:|||||
|Depreciation
charges|||46,335|46,642|
|Bank interest receivable|||(1,784)|(109)|
|Loss on the sale of fixed assets|||1,779||
|Increase
in debtors|||(17,870)|(3,329)|
|Increase
in creditors|||64,867|17,935|
|Net cash used
in operating|activities||(112,509)|(232,597)|
|||2023
f.|2022f|
|---|---|---|---|
|Cash|and cash equivalents|561,301|677,514|
|Total|cash and cash equivalents|561,301|677,514|
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|||||||At 1|||
|---|---|---|---|---|---|---|---|---|
|||||||September||At 31|
|||||||2022|Cash flows|August 2023|
|Cash|at|bank|and|in|hand|677,514|(116,213)|561,301|
|||||||677,514|(116,213)|561,301|
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