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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|||
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|||||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)|
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|||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|
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|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|
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||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|
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|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||||
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|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||
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|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|
##
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|||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|
##
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|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)|
##