# 




## 

|ReferenceandadministrativedetailsoftheCharity,itsTrusteesandadvisers||
|---|---|
|Trustees’report||
|Trustees'responsibilitiesstatement||
|Independentauditor'sreportonthefinancialstatements||
|Consolidatedstatementoffinancialactivities||
|Consolidatedbalancesheet|10|
|Charitybalancesheet|11|
|Consolidatedstatementofcashflows|12|
|Notestothefinancialstatements|13<br>-30|





||THISTLEDOWNEDUCATIONTRUST|
|---|---|
|<br>REFERENCEAND|<br>ADMINISTRATIVEDETAILSOFTHECHARITY,ITSTRUSTEESANDADVISERS|
||FORTHEYEARENDED31DECEMBER2021<br>|
|<br>Trustees|<br>MrTWBarter,Trustee(resigned31May2022)|
||MrRTuffin,Trustee(resigned31May2022)|
||MrCPavey,Trustee|
||MrJDiffey,Trustee(appointed31May2022)|
||MrJAris,Trustee(appointed31May2022)|
||MrBFowler,Trustee(appointed31May2022)|
||MrJHooper,Trustee(appointed31May2022)|
|Charityregistered||
|number|1046192|
|Principaloffice|38WraxhillRoad|
||Yeovil|
||BA202JUX|
|Chiefexecutiveofficer|<br>MrCPavey|
|Independentauditor|CroweU.K.LLP|
||FourthFloor|
||StJamesHouse|
||StJamesSquare|
||Cheltenham|
||GL503PR|
|Bankers|Lloyds|
||9HighStreet|
||Yeovil|
||Somerset|
||BA20 1RN|





# 









# 



# 



## THISTLEDOWN EDUCATION TRUST 

## **INDEPENDENT AUDITOR'S REPORT TO** THE **MEMBERS OF THISTLEDOWN EDUCATION TRUST (CONTINUED)** 

## **Use of our report** 

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed. 


**Crowe U.K. LLP** Statutory Auditor Fourth Floor St James House St James Square Cheltenham GL50 3PR 

Date: 26 January 2023 

Crowe U.K. LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. 

Page 8 



||THISTLEDOWNEDUCATIONTRUST|THISTLEDOWNEDUCATIONTRUST|||
|---|---|---|---|---|
|<br>CONSOLIDATEDSTATEMENTOF||<br>FINANCIALACTIVITIES|||
||FORTHEYEARENDED31<br>|DECEMBER2021<br>|||
|||Unrestricted|Total|Total|
|||funds|funds|funds|
|||2021|2021|2020|
||Note|<br>£|£|£|
|Incomefrom:|||||
|Donationsandlegacies|3|977,983|977,983|79,532|
|Charitableactivities|4|7,915|7,915|5,000|
|Othertradingactivities|5|1,218,837|1,218,837|-|
|Totalincome||<br>2,204,735|<br>2,204,735|<br>84,532|
|Expenditureon:|||||
|Raising funds|6|1,227,906|1,227,906|-|
|Charitableactivities|7|313,484|313,484|140,330|
|Totalexpenditure||<br> <br>1,541,390|<br> <br>1,541,390|<br> <br>140,330|
|Netmovementinfunds||<br> <br>663,345|<br> <br>663,345|<br> <br>(55,798)|
|Reconciliationoffunds:|||||
|Totalfundsbroughtforward|18|<br>4,047,719|4,047,719|4,103,517|
|Netmovementinfunds|18|<br>663,345|663,345|(55,798)|
|Totalfundscarriedforward|18|<br> <br>4,711,064<br>|<br>4,711,064<br>|<br>4,047,719<br>|










## 









# 











||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2021|2021|
||£|£|
|Donations|55,168|55,168|
|Legacies|5,000|5,000|
|AllbrookEducationTrust|142,871|142,871|
|Vista4Limited|774,944|774,944|
||977,983|977,983|
||Unrestricted|Total|
||funds|funds|
||2020|2020|
||£||
|Donations|79,532|79,532|
|Incomefromcharitableactivities|||
||Unrestricted|Total|
||funds|funds|
||2021|2021|
||£||
|Rentalincome|7,915|7,915|
||Unrestricted|Total|
||funds|funds|
||2020|2020|
||£||
|Rentalincome|5,000|5,000|









## 


||||Unrestricted||
|---|---|---|---|---|
||||funds|Total|
||||2020|2020|
||||£|£|
|Charitable|activities||140,330|140,330|
|Analysis|ofexpenditurebyactivities||||
|||Activities|||
|||undertaken|Support|Total|
|||directly|costs|funds|
|||2021|2021|2021|
|||£|£|£|
|Charitable|activities|<br>269,136|<br>44,348|<br>313,484|
|||Activities|||
|||undertaken|Support|Total|
|||directly|costs|funds|
|||2020|2020|2020|
|||£|£|£|
|Charitable|activities|98,742|41,588|140,330|







|||Total|
|---|---|---|
||Activities|funds|
||2021|2021|
||£|£|
|Depreciation|96,535|96,535|
|Donation|162,569|162,569|
|Repairsandmaintenance|10,032|10,032|
||269,136|269,136|
|In2021donationsweremadetoOSGUK.|||
|||Total|
||Activities|funds|
||2020|2020|
||£||
|Depreciation|96,264|96,264|
|Repairsandmaintenance|2,478|2,478|
||98,742|98,742|







||||Total|
|---|---|---|---|
|||Activities|funds|
|||2021|2021|
|||£|£|
|Audit|andaccountancy|6,560|6,560|
|Loan|interest|36,000|36,000|
|Bank|charges|174|174|
|Legal|andprofessionalfees|1,614|1,614|
|||44,348|44,348|
||||Total|
|||Activities|funds|
|||2020|2020|
|||£|£|
|Audit|andaccountancy|4,260|4,260|
|Loan|interest|37,227|37,227|
|Bank|charges|101|101|
|||41,588|41,588|
|Staff|costsarenil,theThistledownEducationTrustisrunwhollybyvolunteers.|||








## 


||Freehold|||||||
|---|---|---|---|---|---|---|---|
||landand|Property|Plantand|Motor|Fixtures|||
||buildings|improvements|machinery|vehicles|andfittings|Total||
||£|£|£|£|£||£|
|Costorvaluation||||||||
|At<br>1January2021|5,610,834|-|-|-|-|5,610,834||
|Additions|12,363|13,162|-|13,495|33,339|72,359||
|Onacquisitionof<br>subsidiaries|392,093|31,888|3,638|105,895|583,352|1,116,866||
|Disposals|-|-|(3,638)|-|-|(3,638)||
|At31December||||||||
|2021|<br>6,015,290|<br>45,050|<br>-|<br>119,390|<br>616,691|<br>6,796,421|<br>|
|Depreciation||||||||
|At<br>1January2021|593,837|.|-|-|-|593,837||
|Chargefortheyear|101,676|4,813|-|28,698|139,739|274,926||
|Onacquisitionof||||||||
|subsidiaries|12,347|1,534|-|4,598|55,426|73,905||
|At31December||||||||
|2021|<br>707,860|<br>6,347|<br>-|<br>33,296|<br>195,165|<br>942,668||
|Netbookvalue||||||||
|At31December||||||||
|2021|<br>5,307,430|<br>38,703|-|86,094|421,526|5,853,753||
|At31December||||||||
|2020|5,016,997|-<br>|-<br>|-<br>|-<br>|5,016,997||
|||||||<br>Page|<br> 22|






||NOTESTOTHEFINANCIALSTATEMENTS||
|---|---|---|
||FORTHEYEARENDED31DECEMBER2021<br>||
|<br>12.|<br>Tangiblefixedassets(continued)||
||Charity||
|||Freehold|
|||property|
|||£|
||Costorvaluation||
||At1January2021|5,610,834|
||Additions|12,363|
||At31December2021|5,623,197|
||Depreciation||
||At<br>1January2021|593,837|
||Chargefortheyear|96,449|
||At31December2021|690,286|
||Netbookvalue||
||At31December2021|4,932,911|
||At31December2020|5,016,997|










||||Group|Group|
|---|---|---|---|---|
||||2021|2020|
||||£|£|
|Stock|||255,912|-|
|Debtors|||||
||Group|Group|Charity|Charity|
||2021|2020|2021|2020|
||£|£|£|£|
|Duewithinoneyear|||||
|Tradedebtors|39,577|-|2,917|-|
|Amountsowedbygroupundertakings|-|-|80,000|-|
|Otherdebtors|22,838|-|-|-|
|Prepaymentsandaccruedincome|3,150|-|-|-|
||<br>65,565<br>|<br>-<br>|<br>82,917<br>|<br>-<br>|







|16.|Creditors:Amountsfallingduewithinoneyear|||||||
|---|---|---|---|---|---|---|---|
|||Group|<br>Group||Charity|Charity||
|||2021|<br>2020||2021|2020||
||||£|£|£||£|
||Otherloans|1,000,000|<br>1,000,000||1,000,000|1,000,000||
||Tradecreditors|41,094|<br>-||-|-||
||Netobligationsunderfinancelease|16,573|<br>-||-|-||
||Othercreditors|1,028|<br>-||-|-||
||Accrualsanddeferredincome|41,522|<br>4,260||5,005|4,260||
||<br>|<br>1,100,217<br>|<br> <br>1,004,260<br>||<br>1,005,005<br>|<br>1,004,260<br>||
||Theloanissecuredbyafixedandfloatingcharge|overtheassetsoftheCharity.||||||
||Interestischargedontheloanat3.5%perannumabove||baserate,payable||<br>inquarterly|instalments.||
||Thereisnofixedmaturitydate,howeverthelendermayrequirerepaymentof||||theloanbynotlessthan|||
||sixmonths'priorwrittennotice.|||||||
|17.|Creditors:Amountsfallingdueaftermorethan|one year||||||
||||||Group|||
||||||2021|||
||||||£|||
||Otherloans||||452,093|||
||Netobligationsunderfinancelease||||63,383|||
||||||515,476|||
|||||||<br>Page|<br>26|









|19.|Summaryoffunds||||||
|---|---|---|---|---|---|---|
||Summaryoffunds-currentyear||||||
|||||||Balanceat|
|||Balanceat|1|||31|
|||January||||December|
|||2021||Income|Expenditure|2021|
||||£|£|£|£|
||Generalfunds|4,047,719||2,204,735|(1,541,390)|4,711,064|
||Summaryoffunds-prioryear||||||
|||||||Balanceat|
|||Balanceat||||31|
|||1January||||December|
|||2020||Income|Expenditure|2020|
||||£|£|£|£|
||Designatedfunds|-||79,532|(79,532)|-|
||Generalfunds|4,103,517||5,000|(60,798)|4,047,719|
|||<br>4,103,517||<br>84,532|<br>(140,330)|<br>4,047,719|
|20.|Analysisofnetassetsbetweenfunds||||||
||Analysisofnetassetsbetweenfunds|-currentyear|||||
||||||Unrestricted|Total|
||||||funds|funds|
||||||2021|2021|
||||||£|E|
||Tangiblefixedassets||||5,853,753|5,853,753|
||Currentassets||||525,312|525,312|
||Creditorsduewithinoneyear||||(1,100,217)|(1,100,217)|
||Creditorsdueinmorethanoneyear||||(515,476)|(515,476)|
||Provisionsforliabilitiesandcharges||||(52,308)|(52,308)|
||Total||||4,711,064|4,711,064|