2022-12-31-accounts - The Mereside Education Trust

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Reference and Administrative Details	Reference and Administrative Details
Trustees' Report			2to 6
Independent Auditors'	Report		7to10
Consolidated Statement ofFinancial		Activities	11to 12
Consolidated Balance	Sheet		13
Balance Sheet			14
Consolidated Statement	ofCash Flows		15
Notes to the Financial	Statements		16to 28

		The Mereside Education	The Mereside Education	Trust
		Reference and Administrative		Details
Chief Executive Officer		Mr A Wells
Trustees		Mark Chadwick
		Mr N Simpson
		Mr M Hutchins
		Mr K Devenish
		Mr M Dunbar
		Mr V Wells
		Lewis Justin Baldwin
		Mr C Lewis
		Mr JHayward
Charity Registration	Number	l058933
Principal Office		Mereside Education	Trust
		c/o Hartford Manor
		Greenbank Lane
		Northwich
		CW8 IHW
Auditor		mca Banbury Ltd
		4 - 6 The Wharf Centre
		Wharf Street
		Warwick
		Warwickshire
		CV34 5LB
Bankers		National Westminster	Bank pic
		23 Stamford New Road,
		Altrincham,
		Cheshire
		WA14 lDB

				Unrestricted	Total
				funds	2022
			Note
Income and Endowments		from:
Donations and legacies				172,154	172,154
Other income				1,787,785	1,787,785
Total income				1,959,939	1,959,939
Expenditure on:
Raising funds Charitable activities			5 6	(1,389,116) ~650,445)	(1,389,116) (650,445)
Total expenditure Net expenditure				(2,039,561) ~79,622)	(2,039,561) ~79,622)
Net movement in funds				(79,622)	(79,622)
Reconciliation offunds
Total funds brought	forward			(2,740,391)	(2,7407391)
Total funds carried	forward		18	(2,820„013)	(2,820,013)
				Unrestricted	Total
				funds	2021
			Note
Income and Endowments		from:
Donations and legacies				154,688	154,688
Other income				1,359,302	1,359,302
Total income				15513,990	1,513,990
Expenditure on:
Raising funds				(1,163,371)	(1,163,371)
Charitable activities				(434,353)	(434,353)
Total expenditure				(1,597,724)	(1,597,724)
Net expenditure				(83,734)	(83,734)
Net movement in funds				(83,734)	(83,734)
Reconciliation offunds
Total funds brought	forward			(246567657)	(2,656,657)
Total funds carried forward			)9	~2,740,39))	(27740,391)

		Consolidated Balance Sheet as a	t 31Dece	mber 2022
				2022	2021
			Note
Fixed assets
Tangible assets			10	2,377,889	2,145,075
Current assets
Stocks			12	182,228	99,614
Debtors			13	81,909	40,256
Investments			14	417,850	417,850
Cash at bank	and in hand		15	125,754	281,020
				807,741	838,740
Creditors: Amounts		falling due within one year		(3,874,043)	(3,803,237)
Net current	liabilities			(3,066,302	(24964,497)
Total assets	less current liabilities			(688,413)	(819,422)
Creditors: Amounts Provisions Net liabilities		falling due after more than one year	17	(2,131,600) (2,820,013)	(1,916,000) ~4,969) ~2,740,391)
Funds ofthe	group:
Unrestricted	income	funds
Unrestricted	funds			(2,820,013)	(2,740,391)
Total funds			18	~2.820.013)	~2,740,39))

		Bala	nce Sheet as at 31De	cember 2	022
					2022	2021
				Note
Fixed assets
Tangible assets				10	497,646	588,133
Investments					202	202
					497,848	588,335
Current assets
Debtors				13	1,897,104	1,901,792
Investments				14	417,850	417,850
Cash at bank	and in hand			15	85,760	147,323
					2,400,714	2,466,965
Creditors: Amounts		falling due within	one year	16	(3,559,332)	(3,247,278)
Net current	liabilities				(1,158,618)	(780,313)
Total assets	less current liabilities				(660,770)	(191,978)
Creditors: Amounts		falling due after	more than one year	17	(2,071,600)	(2,257,600)
Net liabilities					(2,732,370)	(2,449,578)
Funds ofthe	charity:
Unrestricted	income	funds
Unrestricted	funds				(2,732,370)	(2,449,578)
Total funds				)9	~2,732,370)	(2,449,378)

Consolidated S	t	atement of	Cash Flows fo	r the Year En	ded 31December	2022
					2022	2021
				Note
Cash flows from operating		activities
Net cash expenditure					(79,622)	{83,734)
Adjustments to cash flows	from non-cash		items
Depreciation					200,716	38,717
					121,094	(45,017)
%orking capital adjustments
Increase in stocks				12	(82,614)	(484)
Increase in debtors				13	(41,653)	(18,332)
Increase in creditors (Decrease)/increase in provisions				16	237,405 ~4,969)	44,106 852
Net cash flows from operating		activities			229,263	(18,875)
Cash flows from investing	activities
Purchase oftangible fixed assets				10	(439,396)	(77,286)
Sale oftangible fixed assets					5,867
Net cash flows from investing		activities			{433,529)	(77,286)
Cash flows from financing	activities
Repayment ofloans and borrowings				16	49,000	(51,980)
Net decrease in cash and cash		equivalents			(155,266)	(148,141)
Cash and cash equivalents at		I January			281,020	429,161
Cash and cash equivalents at	31December				125,754	281,020

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

	Trading Income- Quanto Enterprise	Trading Income- Quanto Enterprise	Ltd
Total for 2022
5	Expenditure	on raising funds

Unrestricted
funds	Total
General	funds
g
172,154	172,154
172,154	172,154
154,688	154,688
Unrestricted
funds	Total
General	funds
	g
1,787,785	1,787,7&5
1,787,785	1,787,785

a)	Costs	of tra	ding activities
									Unrestricted
									funds	Total
									General	funds
								Note
Trading costs -			Quanto Enterprise		Ltd &Hartford	Investments	Ltd		1,389,116	1,389,116
Total for		2022							1,389,116	1,389,116
Total for		2021							1,163,371	1,163,371
6	Expenditure		on charitable	activities
									Unrestricted
									funds	Total
									General	funds
								Note	f,
Charitable		Activities						7	650,445	650,445
Total for		2021							434,353	434,353

9 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 f	Total
Cost
At 1 January 2022		2,275,708	102,112	2,377,820
Additions Disposals		202,289	237,107 ~21,500)	439,396 ~21,500)
At 31December 2022		2,477,997	317,719	2„795,716
Depreciation
At 1 January 2022		177,606	55,139	232,745
Charge for the year		176,828	23,888	200,715
Eliminated on disposals			(15,633)	(15,633)
At 31December 2022		354,433	63,394	417,827
Net book value
At 31 December 2022		2,123,564	254,325	2,322,889
At 31December 2021		2,098,102	46,973	2,145,075
Charity
			Land and
			buildings f	Totalf
Cost
At I January 2022			739,786	739,786
Additions			66,757	66,757
At 31 December 2022			806,543	806,543
Depreciation
At 1 January 2022			151,653	151,653
Charge for the year			157,244	157,244
At 31December 2022			308,897	308,897
Net book value
At 31 December 2022			497,646	497,646
At 31December 2021			588,133	588,133
	Page 22

Shares in group undertakings and participating in	terests
	Subsidiary
	undertakings	Total
	g
Cost
At 1 January 2022	202	202
At 31December 2022	202	202
Net book value
At 31 December 2022	202	202
At 31December 2021	202	202

are as f	ollow	s:
					Country of		Proportion ofvoting rights		Principal
Undertaking					incorporation	Holding	and shares held		activity
							2022	2021
Subsidiary		undertakings
Quanto	Enterprise		Ltd		United Kingdom		100%	100%	Sale of goods	retail
									Letting	and
Hattford	Investments			Ltd	United Kingdom		100%	100%	operating own	of real
									estate

12 Stock
		Group		Charity
		2022	2021	2022
Stocks		182,228	99,614
13 Debtors
	Group		Charity
	2022	2021	2022	2021
Trade debtors	61,258	26,926		1,000
P repayments	8,651	5,174	1,485	5,173
Other debtors	12,000	8,156	1,895,619	1,895,619
	81,909	40,256	1,897,104	1,901,792

		Group		Charity
		2022	2021	2022	2021
Cash on hand		206	1,288	206	206
Cash at bank		125,548	279,732	85,554	147,117
		125,754	281,020	85,760	147,323
16 Creditors: amounts	falling due within	one year
		Group		Charity
		2022	2021	2022	2021
Bank loans		3,376,000	3,542,600	3,326,000	3,076„000
Trade creditors		95,553	81,242	3,163	1,881
VAT grant repayable		(28,800)	4,259		(1,654)
Other creditors		168,065	17,764	19,268	13,677
Accruals		263,225	157,372	210,901	157,374
		3,874,043	3,803,237	3,559,332	3.247,278

Group
						Balance at 31
		Balance	at 1	Incoming	Resources	December
		January	2022	resources	expended	2022
Unrestricted	funds
General		(2,740,391)		1,959,939	(2,039,561)	(2,8204013)
						Balance at31
		Balance	at I	Incoming	Resources	December
		January	2021	resources	expended	2021
				g		f,
Unrestricted	funds
General		~24656,657)		1.513,990	(1,597,724)	(2,740,391)
Charity
						Balance at31
		Balance	at 1	Incoming	Resources	December
		January	2022	resources	expended	2022
Unrestricted	funds
General		(2,449,578)		367,654	~650,446)	(2,732,370)
						Balance at 31
		Balance	at 1	Incoming	Resources	December
		January	2021	resources	expended	2021
Unrestricted	funds
General		(2,347,912)		332,688	(434,354)	(2,449,578)

Group
			Unrestricted	Total funds at
			funds	31December
			General	2022
Tangible		fixed assets	2,377,889	2,377,889
Current	assets		807,741	807,741
Current	liabilities		(3,874,043)	(3,874,043)
Creditors		over I year	2,131,600)	(2,131,600)
Total net		assets	(2,820,013)	(2,820,013)
			Unrestricted	Total funds at
			funds	31December
			General	2021
Tangible		fixed assets	2,145,075	2,145,075
Current	assets		838,740	838,740
Current	liabilities		(3,803,237)	(3,803,237)
Creditors		over I year	(1,916,000)	(1,916,000)
Total net		assets	(2,733,422)	~2,733,422)

Charity
		Unrestricted	Total funds at
		funds	31December
		General	2022
			f.
Tangible fixed	assets	497,646	497,646
Fixed asset investments		202	202
Current assets		2,400,714	2,400,714
Current liabilities		(3,559,332)	(3,559,332)
Creditors over	1 year	(2,071,600)	(2,071,600)
Total net assets		(2,732,370)	(2,732,370)
		Unrestricted	Total funds at
		funds	31December
		General	2021
Tangible fixed	assets	588,133	588,133
Fixed asset investments		202	202
Current assets		2,466,965	2,466,965
Current liabilities		(3„247,278)	(3,247,278)
Creditors over	1 year	(2,257,600)	(2,257,600)
Total net assets		(2,449,578)	(2,449,578)