2022-12-31-accounts - Thistledown Education Trust

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Reference and Administrative Details
Trustees' Report	2to5
Independent Auditors' Report	6to9
Consolidated Statement ofFinancial Activities	10to 11
Consolidated Balance Sheet	12
Balance Sheet	13
Consolidated Statement ofCash Flows	14
Notes to the Financial Statements	15to 28

			Reference and Administrative
Trustees			Mr JDiffey
			Mr JHooper
			Mr JAris
			Mr BFowler
			Mr C Pavey
Charity	Registration	Number	1046192
Principal	Office		Foxcotte Barn
			Foxcotte Lane
			Andover
			Hampshire
			SP104AB
Auditor			mca Banbury Ltd
			4 - 6 The Wharf Centre
			Wharf Street
			Warwick
			Warwickshire
			CV34 5LB
Bankers			Lloyds
			9High Street
			Yeovil
			Somerset
			BA20 1RN

				Unrestricted	Total
				funds	2022
			Note
Income and Endowments		from:
Donations and legacies				297,236	297,236
Charitable activities				5,000	5,000
Other income				2,425,316	2,425,316
Total income				2,727,552	2,727,552
Expenditure on:
Raising funds				(2,483,638)	(2,483,638)
Charitable activities				(311,720)	(311,720)
Total expenditure				(2,795,358)	(2,795,358)
Net expenditure				(67,806)	(67,806)
Net movement in funds				(67,806)	(67,806)
Reconciliation offunds
Total funds brought	forward			4,711,063	4,711,063
Total funds carried	forward			4,643,257	4,643,257
				Unrestricted	Total
				funds	2021
			Note
Income and Endowments		from:
Donations and legacies				977,983	977,983
Charitable activities				7,915	7,915
Other income				1,218,837	1,218,837
Total income				2,204,735	2,204,735
Expenditure on:
Raising funds				(1,227,906)	(1,227,906)
Charitable activities				(313,484)	(313,484)
Total expenditure				(1,541,390)	(1,541,390)
Net income				663,345	663,345
Net movement in funds				663„345	663,345

		Unrestricted	Total
		funds	2021
	Note
Reconciliation offunds
Total funds brought forward		4,047,718	4,047,718
Total funds carried forward	17	4,711,063	4,711,063

		Consolidated Balance Sheet as a	t 31Decemb	er 2022
				2022	2021
			Note
Fixed assets
Tangible assets				5,765,194	5,853,752
Current assets
Stocks			13	291,942	255,912
Debtors			14	74,138	65,566
Cash at bank	and in hand		15	114,061	203,835
				480,141	525,313
Creditors: Amonnts		falling due within one year	16	(1,089,821)	( I, 152,525)
Net current	liabilities			(609,680)	(627,212)
Total assets	less current liabilities			5,155,514	5,226,540 [ZAN
Creditors: Amounts		falling due after more than one year		(512,25?)	(515,477)
Net assets				4,643,257	4,711,063
Fun&Is ofthe	group.
Unrestricted	income	funds
Unrestricted	funds			4,643,257	4,711,063
Total funds			17	4,643,257	4,711,063

			Balance Sheet as at 3	1December 2022
					2022	2021
				Note
Fixed assets
Tangible assets					4,946,899	4,932,911
Investments					774,946	774,946
					5,721,845	5,707,857
Current assets
Debtors				14	110,638	82,917
Cash at bank		and in hand		15	32,950	72,334
					143,588	155,251
Creditors.	Amounts		falling due &vithin one year		(908,814)	(1,005,005)
Net current		liabilities			(765,226)	(849,754)
Net assets					6,956,6I9	6,858,I03
Funds ofthe		charity:
(Jnrcstricted		income	funds
Unrestricted		funds			4,956,619	4,858,103
Total funds					4,956,619	4,858,103

Consolidated S	t	atement of	Cash Flows for the	Year Ende	d 31December	2022
					2022	2021
				Note
Cash flows from operating		activities
Net cash (expenditure)/income					(67,806)	663,345
Adjustments to cash flows	from non-cash		items
Depreciation					248,281	275,108
					180,475	938,453
Working capital adjustments
Increase in stocks				13	(36,030)	(255,912)
Increase in debtors				14	(8,572)	(65,566)
Increase in creditors				16	35,760	131,692
Net cash flows Irom operating		activities			171,633	748,667
Cash flows from investing	activities
Purchase oftangible fixed assets					(177,763)	(1,115,501)
Sale oftangible fixed assets					18,041	3,638
Net cash flows Irom investing		activities			(159,722)	(1,111,863)
Cash flows from financing	activities
Repayment ofloans and borrowings				16	(85,000)	452,093
Repayment ofcapital element		offinance leases and HP contracts			(16,685)	79,956
Net cash flows from financing		activities			(101,685)	532,049
Net (decrease)/increase in cash and cash equivalents					(89,774)	168,853
Cash and cash equivalents at		I January			203,835	34,982
Cash and cash equivalents at	31December				114,061	203,835

Depreciation is charged so as to allocate the c useful lives. Assets costing less than f500 are	ostoftangible fixed assets less their residual value written offto SoFA in the year ofpurchase.	over their
Asset class	Depreciation method	and rate
Freehold property	2%Straight Line
Fixture &Fittings	25%Reducing Balance
Office Equipment	33%Straight Line

3	Income from donations	and legacies
			Unrestricted
			funds	Total
			General	funds
	Gifts and Donations		297,236	297,236
Total for 2022			297,236	297,236
Total for 2021			977,983	977,983
4	Income from charitable	activities
			Unrestricted
			funds	Total
			General	funds
	Rental Income		5,000	5,000
Total for 2022			5,000	5,000
Total for 2021			7,915	7,915

Unrestricted
funds	Total
General	funds
2,425,316	2,425,316
2,425,316	2,425,316
Unrestricted
funds	Total
General	2021
1,218,837	1,218,837
1,218,837	1,218,837

Charitable	Activities
Total for	2021

	Unrestricted
	funds	Total
	General	funds
Note		f.
	2,483,638	2,483,638
	2,483,638	2,483,638
	1,227,906	1,227,906
	Unrestricted
	funds	Total
	General	funds
Note
8	311,720	311,720
	313,484	313,484

Support	costs allocated to ch	aritable activities
				Premises
				costs	Other
		Governance	Finance	including	support	Total
		costs	costs	depreciation	costs	2022
Charitable	Activities	8,542	49,297	109,881	144,000	311,720
				Premises
				costs	Other
		Governance	Finance	including	support	Total
		costs	costs	depreciation	costs	2021
				f.
Charitable	Activities	8,174	36,174	106,567	162,569	313,484

10 Auditors' remuneration
	2022	2021
Other fees to auditors
The auditing ofaccounts ofany associate ofthe charity	6,000	5,000
All other non-audit services		2,250
	6,000	7,250

Group
	Land and	Furniture	and
	buildings	equipment		Motor vehicles	Total
Cost
At 1 January 2022	6,060,340	119,390		616,691	6,796,421
Additions	110,955			66,808	177,763
Disposals				(28,407)	(28,407)
At 31December 2022	6,171,295	119,390		655,092	6,945,777
Depreciation
At 1 January 2022	714,207	33,296		195,165	942,668
Charge for the year	108,327	21,523		118,431	248,281
Eliminated on disposals				(10,366)	(10,366)
At 31 December 2022	822,534	54,819		303,230	1,180,583
Net book value
At 31December 2022	5,348,761	64,571		351,862	5,765,194
At 31December 2021	5,346,133	86,094		421,526	5,853,753
Charity
				Land and
				buildings	Total
Cost
At 1 January 2022				5,623,197	5,623,197
Additions				110,955	110,955
At 31December 2022				5,734,152	5,734,152
Depreciation
At 1 January 2022				690,286	690,286
Charge for the year				96,967	96,967
At 31December 2022				787,253	787,253
Net book value
At 31December 2022				4,946,899	4,946,899
At 31 December 2021				4,932,911	4,932,911

Shares in group undertakings and participating in	terests
	Subsidiary
	undertakings	Total
Cost
At 1 January 2022	774,946	774,946
At 31December 2022	774,946	774,946
Net book value
At 31December 2022	774,946	774,946
At 31December 2021	774,946	774,946

		Country of		Proportion ofvoting rights	Principal
Undertaking		incorporation	Holding	and shares held	activity
				2022 2021
Subsidiary	undertakings
Vista4 Ltd		United Kingdom	Ordinary	100% 100%	Sale of retail goods

13 Stock
			Group		Charity
			2022	2021	2022
Stocks			291,942	255,912
14 Debtors
		Group		Charity
	2022		2021	2022	2021
Trade debtors	21,068		39,577		2,917
Prepayments	2,331		3,152
Other debtors	50,739		22,837	110,638	80,000
	74,	138	65,566	110,638	82,917
15 Cash and cash equivalents
		Group		Charity
	2022		2021	2022	2021
Cash at bank	114,061		203,835	32,950	72,334

16 Creditors:	amounts falling due with	in one year
		Group		Charity
		2022	2021	2022	2021
Bank loans		900,000	1,000,000	900,000	1,000,000
Trade creditors		151,131	41,094	1,735
Hire purchase	and finance leases	18,106	16,573
Other taxation	and social security	1,028	1,028
Other creditors		8,227	52,308
Accruals		11,329	41,522	7,079	5,005
		1,089,821	1,152,525	908,814	1,005,005

Group
					Balance at 31
		Balance at 1	Incoming	Resources	December
		January 2022	resources	expended	2022
Unrestricted	funds
General		4,711,063	2,727,552	(2,795,358)	4,643,257
					Balance at31
		Balance at 1	Incoming	Resources	December
		January 2021	resources	expended	2021
Unrestricted	funds
General		4,047,718	2,204,735	(1,541,390)	4,711,063
Charity
					Balance at31
		Balance at 1	Incoming	Resources	December
		January 2022	resources	expended	2022
Unrestricted	funds
General		4,858,103	410,236	311,720)	4,956,619
					Balance at 31
		Balance at 1	Incoming	Resources	December
		January 2021	resources	expended	2021
Unrestricted	funds
General		4,047,719	1,123,868	(313,484)	4,858,103

			Unrestricted	Total funds at
			funds	31December
			General	2022
Tangible fixed		assets	5,765,194	5,765,194
Current	assets		480,141	480,141
Current	liabilities		(1,089,821)	(1,089,821)
Creditors over		1 year	(512,258)	(512,258)
Total net assets			4,643,256	4,643,256
			Unrestricted	Total funds at
			funds	31December
			General	2021
Tangible	fixed	assets	5,853,752	5,853,752
Current	assets		525,313	525,313
Current	liabilities		(1,152,525)	(1,152,525)
Creditors	over	1 year	(515,476)	(515,476)
Total net assets			4,711,064	4,711,064

Charity
		Unrestricted	Total funds at
		funds	31December
		General	2022
Tangible fixed assets		4,946,899	4,946,899
Fixed asset investments		774,946	774,946
Current	assets	143,588	143,588
Current	liabilities	(908,814)	(908,814)
Total net assets		4,956,619	4,956,619
		Unrestricted	Total funds at
		funds	31December
		General	2021
Tangible	fixed assets	4,932,911	4,932,911
Fixed asset investments		774,946	774,946
Current	assets	155,251	155,251
Current	liabilities	(1,005,005)	(1,005,005)
Total net assets		4,858,103	4,858,103