2022-12-31-accounts - Ermine Education Trust

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Reference and Administrative Details	Reference and Administrative Details
Trustees' Repott		2to6
Independent Auditor'	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 30

					Unrestricted	Total
					funds	2022
				Note		g
Income and Endowments		from:
Donations and legacies					223,338	223,338
Chiuitable activities					5,000	5,000
Investinent income					441	441
Other income					2,747,130	2,747,130
Total income					2,975,909	2,975909
Expenditure on:
Raising funds					(2,290,958)	(2,290,958)
Charitable activities					(734,334)	(734,334)
Total expenditure Net expenditure Net movement in funds					49,383 {49,383) (3,025,292)	~49,383) (49,383) ~3,025,292)
Reconciliation offunds
Total funds brought	forward				3,512,086	3,512,086
Total funds carried	fonvard			18	3,462,703	3,462,703
				Unrestricted	Restricted	Total
				funds	funds	2021
			Note			g
Income and Endowments		from:
Donations and legacies				688,221	12,080	700,301
Charitable activities				5,000		5,000
Investment incoine				23		23
Other income				1,148,130		1,148,130
Total income				1,841,374	12,080	1,853,454
Expenditure on:
Raising funds Charitable activities			7 8	{983,5SS) ~419,549		(983,588) ~[4)9,549
Total expenditure				~1,403,13Z		(1,403,137)
Net income Transfers between funds				438,237 12080	12,080 ~)2,080	450,317

				Unrestricted	Restricted	Total
				filuds	funds	20?I
			Note	g
Net movement	in funds			450,317		450,317
Reconciliation	offunds
Total funds brought		forward		3,061,769		3,061,769
Total funds carried		forward	18	3,512,086		3,512,086

								2021
					Note
Fixed assets
Tangible assets						12	3,138,904	3,117,185
Current assets
Stocks						14	230,244	183,543
Debtors						15	131,726	44,894
Cash at bank	and in hand						414,650	466 159
							776,620	694,596
Creditors: Amounts		falling due within one year				16	~377&22) ~166,246
Net current	assets						398,798	528,350
Total assets	less current		liabilities				3,537,702	3,645,535
Creditors; Amounts		falling due after more than one year				17	(74,999) ~133,449
Net assets							3,462,703	3,512 0&6
Funds ofthe	group:
Unrestricted	income	funds
Unrestricted	funds						3,462,703	3,512,086
Total funds						i8	3,462,703	3,512,086
The financial	statements		on pages	I I to 30 were approved	by tire trustees	and	authorised for issue on,!„,.ditdt(3@i

				Balance Sheet as at	31Decembe	r 2	022
							2022		2021
					Note		f,		g
Fhed assets
Tangible assets						12	2,784,425		3,021,813
Investments							4		4
							2,784,429		3,021,817
Current assets
Debtors						15	180,000
Cash at bank	and in hand						198,493		183,730
Creditors: Amounts		falling due within one year				18	378,493 ~(111,103	183,730 ~15,224)
Net current	assets						267,390		168,506
Total assets	less current		liabilities				3,051,819		3,190,323
Creditors: Amounts		falling due after more thau one year						~108,450
Net assets							3,051,819		3081,873
Funds ofthe	charity:
Unrestricted	income	funds
Unrestricted	funds						3,051,819		3,081,873
Total funds						1g	3,051,819		3,081,873
The linaaoial	statetnents		on pages	11 to 30 secre approved	by the trustees	and	autltorised for issue	on	l. pB)iS.	... ,

Consolidated Sta	tement ofCash Floavs fo	r the Year En	ded 31Decembe	r 20?2
			2022	20?1
		Note
Cash flows from operating activities
Net cash (expenditure}/income			(49,383)	450,317
Adjustments to cash flows from non-cash items
Depreciation Investment income			249,024 ~441	263,638 ~23)
			199,200	713,932
Working capital adjustments
Increase in stocks		14	(46,701)	(183,543)
Increase in debtors Incnase/(decrease) in creditors		15 16	(86,832) 115,1?6	(43,979) ~)53,622)
Net cash flows from operating	activities		180,843	332,738
Cash flows from investing activities
Interest receivable and similar	income	6	441	23
Purchase oftangible fixed assets Sale oftangible fixed assets		12	(308,300) 37,557	(272,116) 20,278
Net cash flows from investing	activities		(270,302)	(251,815)
Cash flows from financing activities
Repayment ofloans and borrowings			37,950	133,449
Net (decrease)/increase in cash	and cash equivalents		(51,509)	214,372
Cash and cash equivalents at 1	January		466,159	251,787
Cash and cash equivalents at 31Deceinber			414,650	466,159

Unrestricted
funds	Total
General	funds
2,747,130	2,747,130
2,747,130	2,747,130
1,148,130	1,14&,130

Unrestricted
funds	Total
General	funds
441		441
441
		23

Unrestricted
funds	Total
General	funds
2,290„958	2,290,958
2,290,958	2,290,958
983,588	983,588

Charitable	Activities
Total for	2022
Total for	20?1
9 Analysis ofgovernance		and support costs

Activity	Total
support costs	expenditure
g
734,334	734,334
734„334	734,334
419,549	419,549

Support	costs allocated to ch	aritable activities
				Premises
				costs	Other
		Governance	Administration	including	support	Total
		costs	costsf	depreeiatiou g	costs	2022 f,
Charitable	Activities	12,239	86	246,509	475,500	734,334
				Premises
				costs	Other
		Governance	Administration	including	support	Total
		costs	costs	depreciation	costs	2021
		g		g
Charitable	Activities	12,50$	2,545	244,496	160,000	419,549

11Auditors' remuneration
	2022	2021
Other fees to auditors
The auditing ofaccounts ofany associate ofthe charity	6,000	1,500

Group
	Land «nd	Furniture and
	buildings	equipment f	Total
Cost
At I January 2022	4,172,20S	75,915	4,248,123
Additions Disposal s	209,809 ~38,579	98,491	308,300 ~38,579
At 31December 2022	4,343,438	174,406	4,517,844
Depreciation
At 1 January 2022	1,113,256	17,682	1,130,93S
Charge for the year Eliminated on disposais	228,972 ~1022	20,052	249,024 ~1022
At 31December 2022	1,341,206	37,734	1,378,940
Net book value
At 31December 2022	3,002,232	136,672	3,138,904
At 31December 2021	3,058,952	58233	3,117,185

Cha)Sty
			Land and
			buildings	Total
Cost
At 1 January 2022			4,131,437	4,131,437
Additions Disposais			21,487 ~38,579)	21,487 ~38,579
At 31December 2022			4,114,345	4 114,345
Depreciation
At 1Janumy 2022			1,109,624	1,109,624
Charge for the year Eliminated on disposais			221,318 ~[1,022	221,318 ~1,022
At 31December 2022			1,329,920	1 329,920
Net book value
At 31 December 2022			2,784,425	2,784,425
At 31December 2021			3,021,813	3,021,813
13 Axed asset investments
Charity
				2022
Shares in group undertaldngs	and participating	interests
			Subsidiary
			undertakings	Total
Cost
At 1 Janus&y 2022
At 31December 2022
Net book value
At 31 December 2022

Details ofthe investments in are as follows:	which the charity hol	ds 20%or more	ofthe nominal value ofany class	ofthe nominal value ofany class	ofshare capital
	Country of		Proportion ofvoting rights		Principal
Undertalting	incorporation	Holding	and shares held		activity
			?022	2021
Subsidiary undertakings
Fusion Trading
(Biggleswade) Ltd The Oaks, Potton Road, Biggleswade, Bedfordshire,	United Kingdom		00%	100%	Sale of retail goods
SG18OER

14 Stock
			Group		Charity
		2022		2021	202?
					g
Stocks		230	244	183543
15 Debtors
			Group		Charity
		2022		2021	20?2
				f.
Trade debtors		64,727		42,932
Due trom group undertakings					180,000
Other debtors		66,999		1,962
		131,726		44,894	180,000
16 Creditors: amounts	falling due within one year
	Group			Charity
	2022	2021		20?2	2021
	f.	g
Trade creditors	215,612	106,714		5,359	2,56&
Other loans	96,400			96,400
VAT grant repayable	(907)	8,714		(907)
Other creditors	46,965	32,776				2
Accruals	19,752	18,042		10,251	12,654
	377,822	166,246		111,103	15,224
17 Creditors: amounts	falling due after one year
	Group			Charity
	2022	2021		2022	20?,1
Loans	74,999	133,449			108	450

Group
								Balance at31
		Balance at 1		1ncoming		Resources		December
		January 2022		resources			expended	2022
					g
Unrestricted	funds
General		3,512,086			2,975,909 ~3,025,292			3,462,7D3
								Balance at
		Balance at 1						31
		January	Incoming		Resources			December
		2021	resources		expended		Transfers	2021
							g
Unrestricted	funds
General		3,061,Z69	1,841,3Z¹		(1,¹03,13Z)		12,080	3,512,086
Restricted funds				12,080			~[12,080
Total funds		3061,769	1,853,454		~1 403,137		-	3 512,086
Charity
								Balance at 31
		Balance at 1		Incoming		Resources		December
		January 2022		resources			expended	2022
							f,
Unrestricted	funds
General		3,0$1,874			'7D4,2'79		(734,334)	3,051,$19

						Balance at
		Balance at I				31
		January	Incomiug	Resources		December
		2021	resources f.	expended	Transfers	2021
Unrestricted	funds
General		3,061,769	427,575	{419,551)	12,080	3,081,873
Restricted funds			12,080		~12,080
Total funds		3,061,769	439,655	(419,551)	-	3,081,873

Tangible fixed	assets
Cun ent assets
Current liabilities
Creditors over	1 year
Total net assets

Tangible	fixed assets
Current	assets
Current	liabilities
Creditors	over I year
Total net assets

Unrestricted	Total funds at
funds	31December
General	2022
3,138,904	3„138,904
776,620	776,620
(377,822) (74,999	(377,822) ~94,999
3,462,703	3,462,Z03
Unrestricted	Total funds «t
funds	31December
General	2021
	g
3,117,185	3,117,185
694,596	694,596
(166,246) 133,449	(166,246) ~133,449
3,512,086	3,512,086

Charity
	Unrestricted	Total fmds at
	funds	31December
	General	2022
		g
Tangible fixed assets	2,784,425	2,784,42S
Fixed asset investments	4	4
Current assets Current liabilities	378,493 111,103)	378,493 ~111,103
Total net assets	3,051,819	3,051,819

Notes to the Financial Statement	s for the Year Ended 31December	2022
	Unrestricted	Total funds at
	funds	31December
	General	2021
Tangible fixed assets	3,021,813	3,021&813
Fixed asset investments	4	4
Current assets	183,730	183,730
Current liabilities Creditors over 1year	(15,224) 108,450	(15,224) ~l08,430
Total net assets	3,08I,873	3,08I,873