Charity number. 1059448
WHITECROFf EDUCATION TRUST
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

WHITECROFT EDUCATION TRUST
CONTENTS
Page
R•f•ff•n¢• and adfflinistraliv• d•t•ils of tho Charity, ils Twsto•s and *dvis•rs
Trustees. rnport
Tru$t•u' rn•pon$lbillties statement
Independ￿1 audltorfs r•port on th• fknanclal %tat•m•nts
onsolldat•d itst•m•nt ol fiTr•ncl•l •ctivitl•s
onsolldat•d balance ih••t
10
harity balan¢• •h••t
11
Consolld4t•d •tatement al cash Ilow#
12
Not•• to th• fin•n¢lal %t•t•ffl•nt*
13-29

YIHITECROFT EDUCATION TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 310ECEMBER 2021
Trust••s
C HUn￿¢y. Tw$t
D L Tumer. Trustee
N Ta￿0[. Trustee
Charlty r¢glstsrnd
nurn￿r
1059446
Principal offt•
45 Chamhill DrNe
ManuK*tsffield
&istol
Wiltshir•
&S16 9JR
Chknf •x•cutlv• offi￿r C HunlJ•y
Ind•p•nd•Tht audltor
U.K. LLP
Fourth Floor
St Jam68 Hou••
St Jam68 Squ8r•
Cheftenham
GL50 3PR
B•nk•r•
25 King8 Hil Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Page I

WHITECROFT EDUCATION TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 OECEMBER 2021
The Trustees of Whrtecroft Education Trust present their annual report and audited accounts for the year ended
31st December 2021 and confirm they comply %Mth the rewirements of the chartts.es Act 2011. the Trust deed.
FRS102 and the Chariti&s SORP IFRS 1021.
Obi•etivos •nd A¢tivities
The charitsbSe objects of the Trust are the athancement of the ethJc81ion of children and young people throu
the provision of education sites and premises. The objects also includ¢ any other charitsble purpose for the
benefft of the wldwide Christian fello￿h￿ kr￿ffi a$ the Ptymoulh 8rethren Cttfistian Church.
In ftsrtheTance of its objects, the Trust provides one premise under fomial lease for an independent school based
in Wanswell. Berkeley, Glouce$ter$hire, %thich has been run by OneS¢hool Global UK IOSGUKI.
The Twst abo provide5 grant frjnding and other financial support to OSGUK al the dtscretim of Ihe Trustees in
order lo enable OSGUK to provide a well balanced educat.on at primary and secondary levels. for children and
young people whose parents aPpre￿ate the Christian ethos.
Su¢¢oss is measured in terms of the Provision of apprwiate fac4[￿e$ to OSGUK vthilst minimtsing expendilura.
This in turn, frees up fvnds for Taising slandards of edu￿￿.9￿ for all concemed and for the improvement of
facilib'es for pupils and 8tsff alike.
The Trustees have referred to 1he guidance contaNied in the Chanty Commission's general widance on public
benefit and have regard to it wben feviewng their aims and objeclives. and in planning their fiJlure acb"vities. In
P8rb¢ular they consider planned actNrties ¢onth"bute to the educational aims and ¢)bJects"ves they have
set.
VdunteeTr are an integral part of Ihe communÉty ethos and ¥a￿eS of the Trust and there are stron9 and willing
group of YO￿nteef5 assist and support the Trust throughout the year.
Struelure, GovÈm8n¢e and M*agenxnt
Whitet¢roft Educalion Trust is Constitut￿ by a Deed of Trust dated 25th O¢tobei 1996, and 1$ registered wth the
Chanty Commission for England and Wales.
The Truslees vkno seNed thjring the year and sin¢e the year end are set out on page 1. None of the Trustees,
ncy any person connected Yth them. received any remuneration from the Tfust in Ihe year ended 31st
December 2021 lyea¥ ended 31st December 2020 £nill. The power to appoinl Tfustees is invested in th8
existing TrLbStees subje¢t lo the Trust Deed requirement. Trustees are selected according to their o
specialism in a pa￿'cular field and are expe¢ted to pur$ue that specialism. New TrLSStees are instructed in the
need to completely athere to the ethos and values ofthe TnJ$t.
The T￿￿tee8 have examined tht mapr strategic. ￿j￿ne$S and operational risks that the Trust faces. The
Trustees are satisfied that the major risks identiffied have been adewately rn￿gated where necessary. It r
recognised that SY6tems can only provide reasonable but not absolute assurance that major risks have been
adequatety managed.
siy1)ifi￿nt Actlvitiès
Throughout the year the Tntst has eMtinu•d to provide e￿￿tional premises in support of tha •d￿￿tional
activities of OSGUK.
On the 31st July 2021 Ihe Trust was i¥fted by Prospect Ethcation Trust the Nthole of the issued share capitsl of
Novus Trading Ltd 1064518741 and now holds the shares in Novus Trading Ltd as a ¥tholly owned subsidiary
company. vthich undertakes trading activtlies. All proffts ch8rpeable to corporation tsx are gifted to the Trust in
support of the c*aritsbl• adivilies ofthe Trust.
P8ge 2

WHITECROFf EDUCATION TRUST
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDEO 31 DECEMBER 2021
Financial Review
In the year ended 31 st December 2021 the Group rep(ffted a net surplus of £1,752 (2020 surplu$ of £187,071.
Al fijnds are unrestricted.
The Trust is supported and finan¢ed piincipalty by profts from its trading subsithary Novus Trading Ltd plus s)ther
ad hoc donation$ and those raised by fundraising events and grants frorn the Grace Trust. The Trustees believe
that the TFU3fs ￿ndS are suffi¢ientto miligats any short to medvjm terni iisk of ￿dUCed funding.
The Trust's frjndraising events winc4paly operate *fjlhin the Brethren community and profes$ional fundraiseis
are not used. Neither the Trust nor any pefson acting on behalf of the Trust was subject to an undertaking to be
bound by any voluntary stheme for regulating fun&raising, or vduntsry standard for fiJn¢&faising in respect of
activilies on behalf of the Tnjst.
The Truslees. pok'ty 1$ to maintain minimum free re8erves at a kvel ewates lo six month8, unrestricted
expendI￿re. This approximately £7.500. At 31st Decertler 2021 the free reserves of the Tru$1 ￿re
£213,915131st December 2020.. £84,828).
After m•klng appfoprmte enquiries, the Trustee$ have a reasonable expÈetallon that the ¢haTity h8s adequ8te
resources to continue in operational existence for the foreseeable future. For this reason. it conb"nue5 to adopt
the g￿ng concern ba￿S in preparing Ihe finan¢ial statemnts. Furlher detwls regarding the adopts'on of the going
concem basis can be found in the Accounling Poliues.
Plans For Future Period$
The Trustees plan to continue to support OSGUK to ywde a walty and ddiver a ¢on$tstent and high level of
educational experience and outcome for all sludents and $tsff, in a¢¢ordan¢e the Trn81's ethos and values.
Approve
order of the members of the board of Trustees and %gned on their behalf by..
O L Turn•r
Trustee
Date.. 11
1,12oLI
Page 3

WHITECROFT EDUCAnoN TRUST
STATEMENT OF TRUSTEES. RESPONSIBiullES
FOR THE YEAR ENDED 31 DECEMBER 2021
Thè Trusttes are responsible for PTepaiing the Trustees. report and the financial ststements in accordance v
applicable law and Unrted Kingdom A¢counting Standards Iuniled %ingdom Generally Accepted kcounting
Pracb'cel.
The low appli¢abl• to ¢hanll•s In Endand & Wal•s r•quirgs th• Tru$tse8 to prtpar• fffjandal statements for
each financial year Nthich ￿ve a tnJe and fair view ol the stste of affaiis of the Group and the Charty and 01 their
incoming resources and application of resources, indut*ng theii income and expendrture, for that period. In
preparing th*$e finandal 8tatement8, the Tnffjt•e8 are rewired to..
elect suitable accounting pobi(aes and then aF4y them consistenty.,
obseNe the methodB and pr￿cApleS of the Chaiitsès SORP IFRS 102).,
mak¢ wdgments and *c￿untINg •¥timate$ that are reasonable and prudent..
tste vknether 8pplicatAe UK Accounting Standards IFRS 102) have be￿ followed, Subject to any molerf41
dtpartures th'sdosed and explained In the finand818tatements'.
prepare the finanual stslements on the wing ¢on¢em basis unlem It 18 inapprowlate to presume that the
Group ￿711 continu¢ in bU$in¢￿.
The Tru8tee8 #re r¢8pM$ible for keeping adequat¢ act￿nIfing [8￿rdS th•1 are 8uffiuenl lo $h¢>w ond ?xplaln
the Group and the Charity's tran8actiong and dtsdost r••softable a¢(￿raCY at any time the financial position
of the Group and the Charity and enable them to ensuTe that Ihe financial ststements comply wrth the Chari*e8
A¢t 2011, the Ch•rty IA¢¢ounts and Reports) Regulabon8 21J08 and tho prov￿1￿9 ol the Trust deed. They are
81so r•8ponsible for $afewordlrtg the 98$*ts ol the Group and the Charlty and hence for tI￿n9 r•asonabl• $lep$
fof lh• kv•vention and deleclion of fraud and oth¢r irr¢wlarities.
Approved
er of the member8 ofth• bowd ofTru8tées and Blgned on rfs b¢h•lf by".
D L Tum•r
Trustee
Date..
zili12•LS
Page 4

WHITECROFf EDUCATION TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WHITECROFT EDUCATION TRUST
Opinion
We have a*Jdited the firsancial statements of Whttèuoft EthcatiM Trnst (the 'parent charitrfl #nd its subsidi8ries
lthe 'group'l for the year ended 31 0e¢ember 2021 which comprise the Consolidated statement of fjnancial
activilies, the Consolidated balance sheeL the Charity balance sheet. Ihe Consolidated statement of cash flows
and the related notes, induding a summary of ￿gnificant accountwig pO￿"¢IeS. The financial reporting framework
Ihat h88 been applied in their preparation is applicable law and United ￿"ngdoM Accounting Standards. induding
Finan￿al Report>ng Standard 102 The Finanaal Rewting Standard appkcable in the UK and Republic of
Ireland (United Kingdom GeneTalty Accepted A¢¢wnting Pradice).
The financial statements have been prepared in a¢¢ordan¢e Accounting and Reporfing by Charitses
preparing theii accounts in a¢¢oTdance the Finanaal Reporbng Standards applicable in the UK and Republic
of Ireland IFRS 1021 in preference lo the Accounting and R•poTbng by Chanbes: Statèmènt of Recommended
Pracb"ce i55ued on 1 ￿)ri12005 ¥thi¢h is referred to in the extant regulation5 but has been wthdravm.
Thss has been done in order f¢v the acc(￿n￿ to provide a true and tair view in aco)rdance wllh the Generally
Accepted Accounting Practice effective for Teporting periods begnning C￿ or after 1 January 2015.
In L)ur oixnion the fin•n¢ial statements:
gNe a true and fair of the state of the GTOUP'S ￿ of the parent charivs affairs as al 31 Decemb
2021 and of the Group¥ inco￿An9 resour￿ and apF4i¢atsM of resourc￿, In¢￿an9 its income and
expendibjre for the year then ended.,
have been properly prepared in aCc(￿danCe Uniled Kingjom Gener81ty A¢¢epted Accounting
Practice,. and
have been prepwed in accordance V*ilh the rewirements ofthe Chaiilies Act 2011.
Basis for opinion
We conthjcted our autht ￿ accordance V•ilh Internalional Standards on A￿￿ting IUKI IISAS (UK)) and applicable
law. Our responsibil￿e¥ under those 3tsndards are lurther described in the Aut*torfs respon$ibilrtses for the audit
of the finanaal statements seth.on of our report. We are independent ol the Group in a¢¢ordance vthh the ethical
requirements that are relevant to cyjr audt of the ffinan¢ial Ststements in the United Kingdom, induth'ng the
Financial Repofb"ng Council's Ethical Standard, and have fijlfilled our other ethical fesponsibilities in
accordance y￿ti these requirements. We believe that the au¢*t evidèn¢e we have obtsTned 18 sufficient and
appropriate to pr¢)vide a basis for our opirdon.
Con¢lusions rnl•ting to going ¢¢n¢em
In audrflng Ihe financial statements. we have conduded that the TNstees' use of the w4ng ¢oncem basis of
a¢counting in the preparation of the finanoal statements is appropriate.
8ased on the wvrk we h•ve performed. have not identified any mattrial Lm¢ertaiftt￿5 relalmg to events or
conditi.ons that, individually or collectivdy, may cast SI￿lficant doubt on the Group's or the parent charivs abilty
to Continue as a going ¢oneem tor a period of at least Iwefve months from *then Ihe financial $tstements are
authorised for issue.
Our responsibilities and the fesponsbilib¢s of the Twstees with Itspect to g￿ng concem are d*$eribed in the
relevant sections of this report.
Page 5

WHITECROFT EOUCATION TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WHITECROFT EDUCATION TRUST
(CONTINUED)
Other inf0m￿tIon
The other information comprises the information induded in the Annual report tsther than the ffinancial ststements
and our Auditorfs report thereon. The Tr￿￿teeS are responsible for th• other Infomation ¢ontained Trmthin the
Annual report. Our opinion the financial statements does not cover the other infofmation and. ex￿p1 to the
extent otherwi8e explioty ststed in our report. ￿ do not express any form of assurance ¢ondusion thereon. Our
responsibility r6 to read tho other information and, in d￿'ng so, consiller Nthethei the other informatson
materially inconsistent th the financial statements or our knO￿edge obtained in the course of the aiJ(lil, or
otheThM3e appears to be materially misstated. If identify such material in¢onsi$len¢ies or apparent material
mi8statements, we ale required to detèrmine whether this gives rise to a matelial misstatemènt in the financial
statements themsefves. If, based on the work we have performed, V•* ¢on¢lude thal IheTe is a material
misststement of this other infom)8tion. we are required to report that la￿.
We have nothing to report in this regard.
Matters on which we are wuired to Rport by ex¢eptK*n
We have nothing to report ill respect of the follov•ing matters ¥knere the Charibes IA¢¢ounts and Reports)
Regulations 2008 require$ u$ to rewt to you rf. in our Op￿￿)n.
the information uiven in the Trustees. report is inconsistent in any material respect ￿lIh the financial
ststements., or
the parent Chaiity has nol kept sufficaent acctyjnling recc*ds: or
the parent Charity finanual statements are not Én agreement bwth the accounting records and reknms.. or
we have not r￿e1Ve￿ all the informath)n and explanations rewire for our audil.
Responsibil•ti•s of Irusts¢s
explained more in the Trustees. reS￿sibI1rt1eS ststemert the Trustees are responsible for the
preparation of the finanual statements V*thich gr4e a true and fair ￿ew, and for $uch internal control as the
Tfustees determine is necessary to enable the preparalion of ftn8nual statements that are free from materi81
mi5Statement, Yknether ￿e to fraud Of error.
In prepafing the finan(aal statements, the Trustees are responsible for assessing the Group's and the parent
ariV$ abilty to contmue as a going concem, disdosing, as applICa￿e, matters related to going concern and
using the going concern basis ol acwjnting unless the Trustees inlend lo liwidale the Group or the
parent Charity or to cease op¢rth"ons, or have no realistic attemative but to do so.
Page 6

YIHITECROFT EDUCATION TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WHITECROFT EDUCATION TRUST
(CONTINUED)
Audit(>rfs respoTrsibiliti•s forthe •udit of the financial statements
We have been appoinled as auditor under seoion 152 of the Charibes Act 2011 and report in a¢¢ordance *ilh
the Act and rel￿aTrt regulations made or havin9 effect thereunder.
Our obJeetive$ are to obtr￿ reasonable assurance abrrtrt wthether the ffinanaal $latements as a %thole are free
from material mi¥ststement, vknether due to fraud or error, and to r6sue an Audrtorb report that indudes our
opinion. Reasonable assurance is a hith level of assurance, bul is not a guarantee that an audit conducted in
aecordane& *Mth ISAS IUKI will a￿ayS dètect a matsfi.al miBstalement when rl exists. Misstatemènts Can arise
from fraud or error and are considwed Material if, inthvidualty or in the aggregate, they could reasonably be
expected to inlluence the economic decision$ of users taken the basis of theBe finan￿al statements.
Ifrewlaritses, induding fraud. are instsnces of nOn-¢o￿￿￿ance *ilh laws and iegulation8. We desi￿ proce￿1*8
in line YAth our responsibilities, tyjllined above, to detect material mi5SMements in respect of wregularib"es,
including fraud. The extent lo vthich our wocethre5 afe capable of deteding irregulerilies, includtsng fraud
detailed beloNY.
We obtsined an understsnthng ofthe legal and rewlatory fraM￿rkS Wittwn the charity operate$, fo¢u$ing
on those laws and regulations that have a threct effect on the determin•tion of material arnounts and disclosuies
in the ffinancAal statements. The LgY+E and regulatsorts we considered in this context were the Chariknes Act 2011
and the Charriie5 SORP IFRS 102}. We assessed the required compliance WTth thesè la￿ and regulations as
part of our audit procethres on the rdated financial slatement ite￿.
Auditing standards limTI the required audit procethjres to identify non-com￿lanCe wth these and regulations
to enquiry of the Trustees and othef management and irtspection of regulatory and legal correspondence, il any.
We identified the grealesl risk of malwial impact on the finantyal statements from irregularities, Including fraud,
to be ￿rythIn the override of controls by management. Our audit procedures to respond to these risks included
enquirie5 of management. and the Trustees about their identiffication and as$es$mer¢l of the risks of
irregUlar￿e$, sample testing on the posts'ng of iwrnals. revievAng ae¢ounlin9 estimates for bÉases and reviewing
regulalory correspondence.
Chmng to the inherent limitstions of an audiL there an un•voidable risk that we may not have deteeted some
matellal misstatements in the ffinancial statements, even though we have propèrly planned and performed our
audit in accordance audtling stsndards. For example. the fvjrther removed nOn-Com￿lance la%¥s and
regulalions lirregularitiesl is from the events and transactions reflected in the financAal statements. the less likely
lh8 inherenty limited procedures required by aud￿"ng standards would iden*"fy it. In addthon, as vath any au¢Jlt,
theie Temained a higheT lisk of non4ele¢b"on of irrewlarities, as Ihese may involve collLtsion. forgery, intentional
ornissions, misrepresentations. or the override of inlemal controb. We are not responsibbe for prev¢nting non-
¢Or￿lIance and ¢onnot be expected to detéct non-co1￿10￿Ce blith all and rewlotions.
A fijrther descrytion of our responsiblllies for the autht of the financial ststements r& located on the Financiol
Reporbng Council's website at.. VhY4V.frc.or
.u￿aUdIto[sreS
nsitiilr
This des¢ription forms part of our
Auditor's report.
Page 7

## **WHITECROFT EDUCATION TRUST** 

## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WHITECROFT 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: 27 January 2023 

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

Page 8 



Y4HITECROFf EOUCATION TRUST
CONSOUDATED STATEMENT OF FINANCIAL ACTMnES
FOR THE YEAR ENDED 31 DECEMBER 2021
Restricted Unrestri¢tsd
funds
lunds
2021
2021
Total
funds
2021
Total
fvnds
2020
Income from:
Donatitsns and legaties
Charitable activ￿e8
Olher trading adivilies
OtheT income
268,598
249,474
527,560
$27,580
172
Total income
801,156
801,156
254.646
Expgnditurn on:
Raising tunds
Charitable aclivrbes
486,084
313,321
313321
67,575
Total exp￿dI￿re
799,405
799,405
67,575
Net incorn?
Transfers betr4een (und
1,751
2.006,308
1.751
187,071
16
12m6.308)
Net movement in funds
{2,006,308)
2,1)08,059
1,761
187.071
Reconcilialw)n of funds:
Total fund3 broutht forward
Net movement in fund5
16
16
2,006,308
12.006.308)
2JJ06.308
1,7J1
1.819,231
187,071
2,008,059
Total funds carried fonward
2.008.059
2,IX18.059
2,0(￿, 308
The Consolidated Statement of Finan(ial Activrbes indudes all gains and losses recognised in the year.
The notes on pages 13 to 29 form part ofthese financial statements.
Page 9

IITECROFT EDUCATION TRUST
CONSOUDATED BALANCE SHEET
AS AT 310ECEMBER 2021
2021
2020
Fixed assets
Tangble assets
1M57,485
1, 921.4eAJ
1.857,485
1, 927,480
Current assets
Stocks
Debtors
Cash al bank and in hand
13
14
132,876
17,698
110,962
64.2
24.812
261.335
89.057
Creditors.. amounts falling the *Thlhin one
year
15
{110,761)
(4,229)
Net current assets
160,674
84. 828
Total assets less cumt liabiliti
2,1)08,059
2, 006.308
Total net assets
2.IX18,0$9
2,008, 308
Charity funds
Restricted fvjnds
Unrestricted bJnd$
16
16
2,0￿,308
2,008,069
Total fvnd$
2,008,059
2.006.308
The financial ststements y￿re approved and authorised for issue by the Trustees and signed on their behalf by-.
DLTUM
Trustee
Date..
The not¢s on pages 13 to 29 form part olthe5e finan￿￿1 51atements.
Pege 10

IAHITECROFT EDUCATION TRUST
CHARITY BALANCE SHEET
AS AT 31 DECEMBER 2021
2021
2020
Flxed assets
Tangible assets
Investments
1.818.868
197.Fr9
1,921, 480
12
2,016,247
1.921,480
Currnnt ass•ts
Debtors
Casl) at bank in hand
14
64.245
24,812
22￿98
22098
89.057
Creditors: omounts falling thje within one
year
15
16.562)
(4.229)
N•t eurr•nt asséts
16J36
84, 828
Total ass•ts less current liabilities
2.032,583
2.0(k8,308
Total net ass&ts
2.032,583
2, 006,308
Charity funds
Restricted fvnds
Unrestricted frjnds
16
2,OOS.308
16
2,032,583
Total funds
2,032,583
2 006.308
The ffinanoal s
ments were apwo¥ed and aLrthwsed foT tssue by the Twslees and signed on their behalf by..
D L Turner
Trustee
Date..
¥?/, lit)Ll
The note8 on pages 13 to 29 form part of these finaNaal statements.
Pag•11

WHITECROFT EDUCATION TRUST
CONSOUDATeo STATEMENT OF CASH FLOWS
FOR THE YEAR ENOEO 31 DECEMBER 2021
2021
2020
Note
Cash flows from oprating I￿¢¥1110$
Net cash used in operating activities
19
204,423
16,490
Cash flows from investing activities
Purchase of tsngible fixed assets
Sale ol tangible fixed assets
Transfer of fixed assets on a¢qu8iknon of subsithary
ff5,084)
951
(43.1891
N•t cash lus¢d inyprovidad by Investkng activiti
1118,2731
951
Cash fk>ws from fiThan¢ing a¢tivities
Net cash prov•J•d by fmancing a¢ti¥ilies
Change in cash and cash equlva￿nts in the year
Cash and ¢ash equivalents al Ihe begnning ol the year
86,150
17.441
24,812
7,371
Cash and cash equivalents at th• end ofthe year
110,962
24,812
The notes cffi pages 13 to 29 form part ofthese finan￿al statements
Page 12

IITECROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
G•n•rnl inlormatw)n
The Whitecroft Edu¢atiM Trt￿t an uninccffporated charrty {no'. 1059446) fegistered in England and
Wales. The r&kistered adtheBS ￿ 45 Chamhill Drive. Manwtsfield, Bristol, Wiftshlre, 8S16 9JR.
Accounting policies
2.1 Basis of preparation of financial ststemthts
The finan¢ial $tstemen15 have been prepared in accordance the char￿eS SORP {FRS 102) -
Accounting and Reporling by char￿es.. Ststement of Recommended Practice applicable lo charities
preparing their accounts in accordance vAlh the Financial Reports'ng Standard applicable in the UK
and Repubbc of Irdand IFRS 1021 (effeclive 1 January 20191, Ihe Finanaal RepO￿"ng Standard
applicable in the UK and Republic of Irdand IFRS 102) and the Charilies Act 2011.
The finanLyal statements have btrèn wepared to gve a ￿ue and fairf View and have departèd from
the Charities (Accounts and Reports) Rewlab"ons 2(W)8 onty to the extent required to provide a Inje
and fairf view. This depafl¥Jre has involved follwng the Charities SORP IFRS 1021 published
October 2019 rather than the Accounting and Reportsrig by Char￿es.. Statement of Recommended
F¥aclice effective from 1 April 2005 vthith has since been ￿￿thdra￿.
Whitec¥oft Educatioll Trust meets the definrtion of a public benefft enb.ty under FRS 102. Assets and
lia￿$￿eS are ￿rtiallY recognised at historical cost or transaction value unless othewse stated in the
relevant a¢¢ounting policy.
The Consolidated ststement of ￿anC9a1 acliwlie5 {SOFAI and Consolidated balance sheel
con50tsdate the finan¢ial stslements of the Chafity and its subsidiary undertaking. The results of the
subsidiary are con801idated on a &'ne by line basis.
The Charrty has also tsken advantage of the exenytion available to a qualifying entity in FRS 102 for
the requirement to present a Charity onty stslement of cash flows and certain disdosLtres about tho
chariV5 finanaal instruments hithin the conS￿ldated ffinanual statements.
No $eparal¢ SOFA has ￿en prepared forthe Charity alone.
22 Going conctrm
The Tnjstees are of the opinion ihat there i£ sufficient fijnding in place to continue a¢Jlvlb'e$ of the
charity. Therefore. the accounts have been prepared on a going cmcem basi5.
Page 13

YHITecROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
ACcoUnt￿g ￿lICIt$ (continued)
2J lTrcom•
Al income is recognised once the Chality h#$ enbuement to the income, it is probable that the
income V+ill be received and the amount of income receivable can be measured reliably.
The recognrbon of income from lega¢ies is Lkpendenl on estsblishing enlillefflent, the probablity of
receipt and the ability to estimate vrilh sufficient accuracy the amount receivable. Evidence of
e￿I￿ement to a legacy exists when the Charity ha8 ¥uffiaent evidence that a gift has been left to
them Ithrough knovAedge of the existence of a va5hl Ylil and the death of the benefactor) and the
executor is satisfied that the property in question wtll not be required to salisfy Claims in the estate.
Receipt of a legacy must be recognised vA)en it is probable that it V+ill be received and the fair value
of the amounl receivable, wthich vdll g&neralty be the expected Cash amount lo be di$tribute¢J to the
Charity, can be reliably measured.
Grants are included in the Cons01idat•d statement of finanual activities on a Teceivable basi$. The
balance of income receNed for speuffic wrposes bth not expended during the period is shown in the
relevant fijnds on the Balance sheet. Where income is feceived in advance of enb"lJement of receipt.
its recognits.on is deferred and induded wi rAedrtors a$ deferred income. Where entrtlement occurs
before income is received, Ihe income ￿ aryxued.
2.4 Expendilurn
Expenthiure 1$ f¢¢ognised once there ts a legal or ¢￿StructiVe obligati¢)n lo transfer economic benefft
to a third party, r¢ is probable that a transfei of economic benefits wil be reqsjired in selyement and
the amount of the obligation can be measured reliabty. Expendttufe is dassified by aclwity.
Expenditure on raising fvnd$ indudes all eXpenth￿re incutred by the Group lo false fvnds for its
charitablè Purposes and indudes costs of all thjndraising aeti¥ati"es events and non-charitable trading.
Expenditure on charitable aclivitie5 is 1n￿jrred on direc1Jy undertaknng the aclNities which lurther the
Group's objectives, as well as any associated support costs.
l expenditure B indusive of ire¢overat4e VAT.
Page 14

WHITECROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 310ECEMBER 2021
A¢eountMIg policies (continued)
2.5 Tangibk r￿ed ass•ts and dèprnciation
Tan￿ble fixed assets costing £5fM) Of mNe are ¢apitalised and re¢ogmised Ythen ftrture &¢onomi¢
benefits are Probable and Ihe cost (* value of the asset be measured reliabty.
Tani¥ble fixed assets are inFtiaUy reeowised at cost. After r•¢Ognlb￿. under the cost mod&l, tsngible
xed assets are measured at cost less actwmulaled depreaab.on and any acfjjmulaled impairment
losses. costs inujrred to bring a tangkye ￿ed asset into its intended worknng condition Should be
included in the measurement of cost.
Depre￿ation is tharged 80 as to glocate Ihe cost of twg*ile ffixed astsets less their residual value
over their eslimated usefvl INes. .
Depreuaticffj is prowd•d M the fdlthhing basis..
Freehdd property
Plant and machinery
Fixtures and fith"ng8
Office equipment
2% stratght line
10% straight line
100/0 straKJht line
18% redueing balance
The a&8ets' residual values. usefvl thves dew¢c4ation methods are reviewed, and adjusted
prospectivety rf appropriate. or If Ihere i8 an Inth'cation of a signthcant thange since the last reporting
Gains and losses on disposals are deterrywned by comparing Ihe proceed5 V*ilh the carywng amount
and are recognised in the Consolidated statement of fman¢>al adivities.
2.6 Inv•slmonts
Fixed asset investments are a fomi of financial instrument and are inilialty Tecognised at their
transactirgn Cost and subsequenty meayued at fair vatue at the Balance sheet date, unless the value
annot be measured reliabty in whi¢h case it is measured at cost less impairment. Investment gains
and losses. vthether realised or unrealised, are combined and wesented as 'Gainsl{Losses} on
investments, in the Consolidated statement of financaal aetsvbtses.
Investments in subsidiaries are ¥abJed at ¢o$t less provisson kn impairment.
2.7 stocks
Stocks a￿ valued at the lower of cost and net realisalle ¥alu• after making due allowance for
obsolele and slow-moving stocks. Cost indudes all threct costs and an appropriate propo￿0￿ of ffix&d
and varbable overheads.
2A Debto
Trade and other debtors are recowised at the setttement amount after any trade discourtrt offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Cash at bank and in haDd
Cash at bank and in hand indudes cash and short-terrn hbghly liquid investments with a short maturty
of three months or 5tsss from the date of acqui￿.0￿ or opening of the deposit or simlar account.
Pag• 15

WHITECROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 310ECEM8ER 2021
Accounting policies {continu8d)
2.10 LÈabilitie5
Liabil￿"e$ are recosmised ￿lIeft there i% an obllgalion at the Balance sheet date a5 a resutt of a past
evenl, it is probable that a trar¢sfer of e￿Orni¢ benefft wll be required in setuement, and the amount
of the setllement can be estimated reliabty.
Lialylthes are recognised at the amount that the Charity antiopates it ￿11 pay to settle the debt or the
amount (( ha3 received 88 athanced payments for the goods or services 5t must provide.
2.11 Flnancial instruTr*nts
The Group only has finanoal assets and financ4al liats.1￿es of 8 kn.nd thal qualify as basic financial
instruments. Basic finanual instrLtments are Initi￿lY recognised at transaction value and subsequently
measured at their settlement value.
2.12 Fund 4¢¢ounting
General fvnd5 are unreslricted fijnds vA)ith a￿ avalable for use at the discretion of the Trustees in
hjrtherance of the genttal obiecbves of the Group and ￿leh have not been designated fof olhèr
purposes.
Designated fijnds comprise unrestricted fvnds that have been set a$ide by the Trustees for parbcular
purposes. The atm and use of each desi￿ated tund is set oul in the notes to the financial
statements.
Restricted funds are fund5 v*hich ale to be used in accordance WTth $peafic restriclions imposed by
donors or vthich have been ra￿ed by the Group lor parb¢ular pU￿0$eS. The costs of raising and
administering such ￿ndS art ¢haiged against the spe¢ific fund. The aim and use of each restn'cted
nd is sel out in the notes to the financial ststements.
Page 16

YHITECROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
lTrcomo from donations and 10gaci•s
R•strkt¢d Unrnstri¢tod
funds
fvnds
2021
2021
Total
lunds
2021
Donation$
Grants
Prospect EdurAtion Tn￿t
Novus Trading knrrrited
2.721
so.000
18,300
197.577
2,721
50,000
18,300
197.677
268,598
268,598
Resthded
funds
2020
Total
fvnds
2020
Donations
74,474
iO.OL
165,OCQ
74, 474
10, 000
165,C¥)O
Legacies
Grants
249,474
249. 474
Income Imm charitsb￿ *tiviti
Unrestricted
funds
2021
Total
funds
2021
Rent income
4,998
4,998
Unrostn'¢t&d
fvnds
2020
Total
fvnds
2020
Rent income
Page 17

Y*IITECROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR E140E0 31 DECEMBER 2021
Incomè from other trading activities
Income from non charitabl• trading xliviti•s
Un¥estricted
funds
2021
Totsl
funds
2021
Total
fvnds
2020
Trading income- Novu$ Trading Limited
527,560
527.560
Expend6￿1* on raising lunds
Costs of raising voluntary income
Total
funds
2021
Total
fvnds
2020
funds
2021
Trading ￿$ts- Novu5 Trading knmtted
486,084
486,084
Analysis of exr*ndiiurè on ¢haritsbk activili•s
Summary by fund type
funds
2021
Total
2021
Charrtable acbvibes
313,321
313.321
Page 18

HITECROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Anatysl$ of •xpgndrlur• on charilable activili•s {continuedl
Summary by fund type l¢onlinued)
Unrestricted
funds
2020
Total
2020
Charitsble a¢tivilies
67.575
67.575
Analysis ol expenditure by a¢tivil*s
Adiviti•$
undertaken
directly
2021
Support
eosts
2021
Total
funds
2021
Charitsble activrfies
304,717
8,604
313.321
AdF"vitse$
undertaken
dir&c*ly
2020
Support
costs
2020
Total
fund$
2020
Charitabk aclivilies
64,117
3,458
67,575
Page 19

WHITECROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Anatysis of expendi￿re by activities (conl￿￿ed)
Anatysis of dire¢t eosts
Total
funds
2021
Activities
2021
Depreciatic
Donations
174,472
130.245
174.472
130.245
304,717
304.717
A review of depreciation rates took place in the year and this has been refflecte¢J in Ihe year to 31
Deeèmbef 2021.
In 2021, included N¥7th￿ dona￿n$ are £66.000 of donalions to OSGUK.
Total
nds
2020
Activrties
2020
Depreciation
S4.117
64,117
Page 20

WHITECROFT EDUCATION TRUST
NOTES TO TME FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OECEM8ER 2021
Analys￿ of exp•nditur¢ by activilies l¢ontinued)
Analysis of support costs
Total
funds
2021
Activit••s
2021
Audit and accountsncy
Bank ¢har9e$
Legal and professional fees
6,708
6.708
1,800
8,604
8,604
Total
funds
2020
A¢tsvilffjs
2020
Legal and Pfofe55ional fees
{ProfftlAoss on disposal of fixed assets
3,189
278
3,180
218
3,458
3,458
Staff costs are nil. The Whitecroft Education Tw$t is run wtholty by volunteers.
Auditorfs r•munoration
2021
2020
Fees payable to the Charitys auditor for the audr¢ $erw¢es
Fees paYa￿e to the Chall￿$ auditor in respect ot.
Non-audit service5
2.2EQ
3, 120
10. TNstees' rnnuneration and exp￿$•$
During the year, no Trustees received any reThwneration or other beneffts (2020- £NIL).
During the year ended 31 December 2021. no Trustee expense¥ have been incurred (2020- £NIL).
Page 21

WHITECROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
11. Tanglble fixed as*•ts
Group
Fr••hold Fixtyrns and
prop•rty
firtlngs
Offi¢•
•quipm•nt
T¢)tal
Cost or valuation
At 1 January 2021
Additions
On acquis￿l0n of subsi(tiaries
2,088,748
71.660
224,030
2,398
70.893
2.309,778
70,084
75,827
1.026
4.934
At 31 December 2021
2.157.408
297.321
2.460.689
D•prn¢lation
At l Jan¢Jary 2021
Ch8rue for the year
On a¢qui$iJon ol
8ubtsldi•riei
301.731
86.867
144,702
388.298
182,268
667
32.638
At 31 December 2021
338.740
281,869
2,606
603.204
N•t book va￿•
Al 31 De¢ember 2021
1,818.688
35,462
3.366
1,867.486
At 31 December 2020
1 T84.OIT
13T.463
1.921,480
Page 22

WHITECROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
11. Tangible ftKed assets {¢ontinu4d)
Charity
Frnehold Fixtyres and
property
fittings
Total
Cost or valuati¢n
At 1 January 2021
Addibons
2.085.748
71.660
224,030
2J09.778
71,660
At 31 December 2021
2.157.408
224,030
2J81.438
At 1 January 2021
Charge for the year
301,731
37,009
86,567
137,463
388,298
174,472
At 31 December 2021
338,740
224,030
562,TlO
N•t book value
At 31 December 2021
1018,668
1018,668
At 31 Decemb8r 2020
1, 784,017
137,463
1.921,480
Page 23

WHITecROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
12. Flxed asset lTrv•stments
Investments
in
subsidiary
ompanies
Charity
Cost or valuation
Ad¢thb"ons
On acquisition of subsidiaries
197,577
At 31 December 2021
197,579
N•t book valuo
At 31 Decembef 2021
197,F19
Principal subsidiaii•$
The follthiing o subsidiary undertaking oflhe Charity:
Ctynpany RegIStrr￿ offKe or principal Principal activity
number
pla¢e of Lw5iness
Novus Trading Limtted
C6451874
200 The Quadrant, Ash Ridge
Road. 8ristol. BS32 4QA
Retail Sales
The ffinancial rewjlts of the subsidiary for the 5 month period were".
Name
IncThne Expèndi￿rn ProfrtllLoss)
I Surplusl
(Deficit) for
the 5 rnonth
Net assgts
Novus Tradln9 Ltmited
552.084
24.524
173,053
Page 24

WHITECROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
13. Stocks
Group
2021
Group
2020
Sto¢k
132.675
14. DÈbtors
Group
2021
Group
2020
Charity
2021
Chanty
2020
Du¢ wilhin year
Trade dèbtors
Other debtors
16.083
10
64,245
64,245
Prepayments and acc¥ued income
1.60S
17,698
64 245
64, 245
15. C¥•ditors: Amounts falling due within one y•ar
Gnwp
2021
G￿p
2020
Charity
2021
Charity
2020
Trade erethtors
47,049
6,512
1,680
1, 680
Other taxation and social setyjrity
Other crethtor5
Accruals and deferred income
42.150
5,002
2, $49
110,761
4.229
6,562
4,229
Page 25

WHITECROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THe YEAR ENDED 31 DECEMBER 2021
18. Statsm•nt of lunds
Stat•m•nt of funds- curr•nt y•ar
Balanc• at
Balone• at 1
January
2021
31
Tr*nsf•rs D￿•m￿r
inlout
2021
Incom¢ Expenditijre
Unrnstrfct•d fvnds
General Fund8
801,156
(799,405) 2,006,308
2,008,059
R•strl¢t•d fvndl
8erkel8y Fund
2,006,308
12,1)06.31)81
Totsl olfvnd•
2,006,308
a01.151
1799,405)
2,008,009
Ftslowng a rewew ol fijnds held and darification from Th• Gia¢e Twsl, £2,OC6,308 of r•$trlcted fvnd8
have been transferred to unrestricted fvnds in hne Vlith the obiectiv•s ol the Charity.
S14tom•nt of fundi - prlor y••r
Balance at
31
D8¢gmb•r
2020
8alanc• at
1 January
2020
Incom• Exp8nditure
Re•trl¢t•d fvnds
Berkdey Fund
1.819.237
254,646
(67,575) 2,006,308
Page 26

ITECROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 310ECEM8ER 2021
17. Summary of funds
Summary of funds . current year
8alance at
31
Translers Decernbei
inlout
2021
Bal8ne¢ at 1
Jwuary
2021
Income Expendi￿re
General fvnds
Restn"cted thjnds
801,158
1799N05) 2,006,308
12,006,308)
2,008,069
2.006.308
2,006.308
801,156
1799,4061
2,008,059
Following a rewew of fvnds held and darification from The Grace Trust, £Z,IJ06,308 of re$tri¢ted funds
have been transferred to unrestricted fijnds in line Vlith the obiectrve5 ofthe Charity.
Summary ￿ fund$ - prior year
Balance at
31
December
2020
Balance at
l January
2020
Income Exp￿drt￿re
Restricted thJnds
1. 819.237
254.846
(6T,575) 2.006.308
18. Analysls of net ass•ts belw•¢n funds
Analysis of net assets between fvnds - curv•nt year
un￿Stricted
funds
2021
Total
funds
2021
Tangible ffixed assets
Current assets
CTedrtors due wthin one year
1,857.485
261.335
{110.761)
1,857,485
261,335
1110.7611
Total
2,008,059
2.008.059
P8ge 27

WHITECROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
18. Analysls ol net assets belween funds (continued)
Analysis of net a$￿t$ bet￿eft furbds- pri*x year
Restricted
funds
2020
Total
fvnds
2020
Tangible fixed assets
Currenl assets
Creditor$ wlthin Me year
1,921,480
89.05T
f4,229)
1,921,480
89.057
(4,229)
Total
2,CQ6.308
2,006.308
19.
R•con¢iliation of net movement in funds lo net ¢ash flow from operating activiti•s
Group
2021
Group
2020
Net income for the year (as per Statement of Finanaal ActNrti"esl
1,751
787.071
Adjuslments for:
Depreciab"on tharges
Decreasellincrea$el in ¥to¢ks
Decreasellincrease) in dèbtLWS
In¢reasel(decreasel ￿ credito
182.268
{132.6751
46.547
106.532
03,444
(50. 705)
(183,320)
Net ush provided by operating activities
204.423
16, 490
20. Analysis of cash and cash equivalents
Group
2021
Gmup
2020
Cash in hand
110,962
24,812
Total cash and cash •quh•lonts
110.962
24.812
Page 28

WHITECROFT EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
21. An4￿1• of chang•s In n•t d•bt
At1
January
2021 Cash flows
At31
D¢¢ombo1
2021
Cash al bank and in hand
24M12
86,160
110,962
24112
86.160
110,962
22. Op•ratlng l••i• commSlm•nts
At 31 Decert*er 2021 the Group and the Charity had ctsmmthents to make ￿j￿re minlmum 1è88e
payments Ltnder non-¢an￿lIablfr operating leases a$ I￿10￿-
Qrnup
2021
Group
2020
Nol later Ihan 1 year
13,680
23. R•l•t•d party tT•n•xt•ons
As 8t•ted In note 12, Novus Tr•¢Jng knmlled a %¥tholly owned subsldiary undertaking of Ihe Charfty
from 31 July 2021. £66,000 was received by the Charity from the 8ub*diary under gift aid.
Page 29