**REGISTERED COMPANY NUMBER: 03413269 (England and Wales) REGISTERED CHARITY NUMBER: 1063950**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **FOR**
## **THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
GB Accounting Solutions Limited Building 115 Bedford Technology Park Thurleigh Bedford Bedfordshire MK44 2YA
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2020**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|5|
|**Independent Examiner's Report**||6||
|**Statement of Financial Activities**||7||
|**Balance Sheet**|8|to|9|
|**Notes to the Financial Statements**|10|to|15|
|**Detailed Statement of Financial Activities**|16|to|17|
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 August 2020**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Founded in 1977, the Centre was funded and managed by the then Bedford College of Further Education. It was subsequently transferred to Bedfordshire County Council who supported it until 1997. On 1st September 1997 it became an independent private company limited by guarantee, with charitable status and is governed by its Memorandum and Articles of Association. There are currently over 1,000 members.
## The principal object of the Rothsay Education Centre is:
- to advance the education mainly of persons over 50, and provide facilities for recreation and leisure with the object of improving the quality of their lives.
To achieve this the Centre provides a wide range of educational and recreational courses aimed at the over 50's. In addition, the Centre also offers a number of opportunities for education visits and holidays and free advisory sessions. With an on-site restaurant the Centre provides activities and companionship from 9am to 4.30pm five days a week during term time, some weekends and during the summer holiday.
## **Public benefit**
The Trustees have paid due regard to the Charity Commission's guidance on public benefit and accordingly report on the benefits brought to the public by its activities; namely Educational courses, Recreational and Social Opportunities and Advisory Talks. Examples of feedback received from students are reported.
## **ACHIEVEMENT AND PERFORMANCE**
## **Educational Courses**
Courses continue to be provided for adults, with 1,805 enrolments including those on the 22 courses over 6 weekends available for anyone over the age of 18 years. Our 152 daytime and summer courses covered a wide range of subjects, the majority being academic non-vocational as befitting the student population. The range of educational backgrounds was wide with some students returning to learning for the first time since leaving formal education and others continuing a tradition of life-long learning. The Centre offered a wide range of course lengths and costs to suit all incomes and a diverse spectrum of subjects from art to science, languages and music, and physical activity. The thriving Rothsay Ramblers Group has 130 members.
## **Recreational and Social Opportunities**
As well as providing life-long learning opportunities, the Centre continues to provide extra-curricular activities with an educational remit. In 2019-20 the Centre organised 6 educational trips to museums, exhibitions and theatres.
Page 1
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 August 2020**
## **ACHIEVEMENT AND PERFORMANCE**
## **RESPONSE TO SARS-COV-2 PANDEMIC**
This past year has been an extraordinary one but the organisation's response to the pandemic has been magnificent. With the announcement of a national lockdown in March 2020 action was immediately taken to ensure the REC would remain a going concern. Over the Easter holiday the summer term programme was re-configured and re-arranged for the delivery of all REC courses online. Thanks to the tremendous efforts of so many of our tutors to adapt their courses and teaching style some 80% of the courses that would have taken place in our refurbished classrooms were delivered online through the summer. That was in no small measure possible thanks to the willingness, adaptability and for some perseverance, of so many of our members in embracing the new technology at short-notice and new ways of continuing to learn as well as stay in touch with one another.
Staff too have played a significant role in the response to the pandemic. Their actions in re-arranging the summer programme and ensuring regular communication to keep REC members up-to-date through newsletters, the website and emails continued right through our traditional summer break without interruption have been vital and well-received. Thanks to many additional hours from our staff the REC has been able to keep going.
Though the majority of our students have successfully migrated to learning online, regrettably not all have been able to do so. Consequently, a fundraising appeal was launched in July to raise sufficient funds to offset the drop in the take-up of courses and resultant decreased income and the cessation of our programme of regular visits and holidays. The response from our members to the appeal, together with additional funds received from local grant-funding agencies has been good. Despite that and a successful insurance claim for the disruption caused by the pandemic, the REC is still facing a financially challenging environment.
## **GENERAL**
The past year started by taking delivery of our newly refurbished and extended premises. The fact that such a major project was completed on-time so that courses started as planned in September was a major achievement and the response from our members to the completed work was overwhelmingly positive. Protracted and detailed negotiations with the builders were successfully concluded over the past year and an end-of-project report produced.
On 1st November 2019 our new website, funded by the National Lottery, went live. It provides an important foundation for the REC's future marketing and communication activities.
## **FINANCIAL REVIEW Financial position**
The financial results for the year ended 31st August 2020 are set out on pages 7 to 17.
The Company, being limited by guarantee and registered as a Charity, is prohibited by its Memorandum from paying dividends to its members.
The surplus for the year of £21,288 (2019 - £8,241) has been added to reserves.
At the year end there was £323 on the General Fund (2019 - £64,445). In order to fund the building development work £85,410 was transferred from the General Fund to the Building Development Fund.
The Building Development Reserve, formally the Appeal Fund and the Furniture and Equipment Fund was £nil at the year end (2019 - £63,275). The deficit for the year was £155,985.
A new fund was opened during 2019 for the development of the Centre's website. The balance on this fund at the end of the year was £1,500 (2019 - £8,800).
Page 2
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 August 2020**
## **FINANCIAL REVIEW**
## **Reserves policy**
In 2018 the Trustees reviewed the various reserves held and decided that the following arrangement better reflects the strategic and operational needs of the Centre. This has been done to bring more clarity to the financial position. The following reserves have been identified:
- A General Fund comprising of an Operational Reserve and a Winding-up Reserve
- A Building Development Reserve
## **Operational Reserve**
The operational reserve includes money for running the Centre including the courses. Courses for the following academic year are advertised in June and bookings open at that time. Thus there is a slight phasing mismatch between income received before the start of the academic year and expenditure but this is balanced by the operational reserve. All other running expenses call on this reserve.
## **Winding-up reserve**
This reserve is a designated fund held to protect the charity from any unanticipated loss of income. This reserve ensures that any outstanding financial liabilities could be met if the Centre had to close unexpectedly.
## **Building Development reserve**
The purpose of this reserve is to fund the refurbishment and extension of the Centre. All monies earmarked for building development are held in this reserve and all legitimate expenditure towards the refurbishment and extension are called from this reserve. At the end of the year the reserve stood at £nil (2019 - £64,455).
## **FUTURE PLANS**
The refurbished premises came into use at the start of the academic year, with the additional classroom increasing the teaching capacity of the Centre by approximately 15%. In November 2019 the REC's new website, developed by a local company with funding from the National Lottery, was successfully launched. These two projects provide the foundations to enable an increase in the number and diversity of students benefiting from the Centre in the future.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Rothsay Education Centre is a company limited by guarantee governed by its Memorandum and Articles of Association dated 28 May 1997 and updated on 25 November 2015. It is a charity registered with the Charity Commission.
There are currently around 1,000 members, each of whom agrees to contribute £1 in the event of the Charity winding up.
## **Recruitment and appointment of Trustees**
As set out in the Articles of Association, all Trustees are appointed by the Charity's members at the Annual General Meeting held every November. The Board also includes three Student Representatives as voted by the members and a local Borough Councillor nominated by Bedford Borough Council.
Trustees serve no more than 3 terms of office (a maximum of 12 years) and Student Representatives no more than 2 terms (a maximum of 8 years), unless asked by the Board if the majority of Trustees believe it is in the best interests of the Charity.
In the event a Trustee retires, a temporary appointment can be made by the Trustees until an election can be made at the next Annual General Meeting. No person may be appointed a Trustee under the age of 18, or have been declared bankrupt at any time. Trustees are required to declare that there are no reasons why they may not serve as a Trustee. No Trustee receives any remuneration for their role.
Page 3
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 August 2020**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure**
The Board of Trustees, which has up to 12 members, administers the Charity. The Board is responsible for all strategic decisions regarding the running of the organisation, with the authority to delegate decisions to sub-committees where appropriate. The Board normally meets 5-6 times per annum and there are sub-committees who each meet 4-6 times per annum covering: Human Resources and Audit
Two Trustees each take the lead for Fundraising and Marketing.
The Chief Officer is appointed by the Trustees to manage the Charity. The Chief Officer has delegated authority, within terms of delegation approved by the Trustees, for operational matters, including finance, employment and curriculum.
## **Induction and training of new trustees**
All new Trustees undergo an induction with the Chair of the Board of Trustees and the Chief Officer, and receive an Induction Pack. Trustees are encouraged to attend regular training and briefing sessions, which is monitored by the Centre Manager.
## **Staff pay policy**
All administrative staff (2.09 FTE), including the Chief Officer are paid as per Local Authority pay scales. All Tutor Staff are paid at a rate commensurate for adult education tutors locally. All staff pay is reviewed annually and is normally increased in accordance with the local authority pay increases.
## **Risk management**
The Trustees have a Risk Management Policy and Framework and a Risk Register, which identifies the principal risks and uncertainties the Charity faces, the likely level of risk and its impact, a list of procedures and actions to mitigate the risks.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
03413269 (England and Wales)
## **Registered Charity number**
1063950
## **Registered office**
6 Rothsay Gardens Bedford Bedfordshire MK40 3QB
## **Trustees**
Dr M Chamberlain Mrs A C Bowdler Mr P Marks Miss C Moorhouse Dr D Foley Dr S Rogers Mr B Woods Mr G Willey Mrs J Boud
## **Company Secretary**
Miss C Moorhouse
Page 4
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 August 2020**
## **REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner**
GB Accounting Solutions Limited Building 115 Bedford Technology Park Thurleigh Bedford Bedfordshire MK44 2YA
## **Solicitors**
Woodfines LLP 16 St. Cuthbert's Street Bedford MK40 3JG
Approved by order of the board of trustees on 9 November 2020 and signed on its behalf by:
Miss C Moorhouse - Secretary
Page 5
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
## **Independent examiner's report to the trustees of The Rothsay Education Centre (Bedford) Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2020.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FMAAT which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Gerald Bygraves FMAAT GB Accounting Solutions Limited Building 115 Bedford Technology Park Thurleigh Bedford Bedfordshire MK44 2YA
9 November 2020
Page 6
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 August 2020**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Courses and educational activities
**184,712**
Donations and fundraising
**12,500**
Investment income
2
**89**
Other income
**2,912**
**Total**
**200,213**
**EXPENDITURE ON**
**Charitable activities**
Courses and educational activities
**141,612**
Administration
**37,313**
Property costs
**-**
**Total**
**178,925**
**NET INCOME/(EXPENDITURE)**
**21,288**
**Transfers between funds**
9
**(85,410)**
**Net movement in funds**
**(64,122)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**64,445**
**TOTAL FUNDS CARRIED FORWARD**
**323**|Restricted
funds
£
**-**
**72,149**
**1,063**
**-**
**73,212**
**7,300**
**-**
**221,897**
**229,197**
**(155,985)**
**85,410**
**(70,575)**
**72,075**
**1,500**|**31.8.20**
**Total**
**funds**
**£**
**184,712**
**84,649**
**1,152**
**2,912**
**273,425**
**148,912**
**37,313**
**221,897**
**408,122**
**(134,697)**
**-**
**(134,697)**
**136,520**
**1,823**|31.8.19
Total
funds
£
247,609
96,094
2,532
2,485
348,720
209,912
40,632
252,315
502,859
(154,139)
-
(154,139)
290,659
136,520|
|---|---|---|---|
The notes form part of these financial statements
Page 7
## **THE ROTHSAY EDUCATION CENTRE**
## **(BEDFORD) LIMITED**
## **BALANCE SHEET 31 August 2020**
|Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Debtors
6
**19,986**
Cash at bank and in hand
**107,348**
**127,334**
**CREDITORS**
Amounts falling due within one year
7
**(127,011)**
**NET CURRENT ASSETS**
**323**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**323**
**NET ASSETS**
**323**
**FUNDS**
9
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
**-**
**1,500**
**1,500**
**-**
**1,500**
**1,500**
**1,500**|**31.8.20**
**Total**
**funds**
**£**
**19,986**
**108,848**
**128,834**
**(127,011)**
**1,823**
**1,823**
**1,823**
**323**
**1,500**
**1,823**|31.8.19
Total
funds
£
3,754
257,163
260,917
(124,397)
136,520
136,520
136,520
64,445
72,075
136,520|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.
## The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 8
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
## **BALANCE SHEET - continued 31 August 2020**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 9 November 2020 and were signed on its behalf by:
Mr B Woods - Trustee
The notes form part of these financial statements
Page 9
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2020**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Investments**
Gifts of investments are included in income at the valuation on the date when the gift was received. Investments are included at market value. Investment income is accounted for when due.
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||**31.8.20**|31.8.19|
||**£**|£|
|Deposit account interest|**1,152**|2,532|
continued...
Page 10
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 August 2020**
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.
During the year, three Trustees delivered tutorials for which they were paid at arms length less than £2,000 between them.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.
## **4. STAFF COSTS**
The average monthly number of employees during the year was as follows:
## **5.**
|Administration
Teaching
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Courses and educational activities
247,609
Donations and fundraising
-
Investment income
33
Other income
2,485
**Total**
250,127
**EXPENDITURE ON**
**Charitable activities**
Courses and educational activities
201,254
Administration
40,632
Property costs
-
**Total**
241,886
**NET INCOME/(EXPENDITURE)**
8,241|**31.8.20**
31.8.19
**5**
5
**10**
10
**15**
15
Restricted
Total
funds
funds
£
£
-
247,609
96,094
96,094
2,499
2,532
-
2,485
98,593
348,720
8,658
209,912
-
40,632
252,315
252,315
260,973
502,859
(162,380)
(154,139)|
|---|---|
continued...
Page 11
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 August 2020**
|**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
fund
funds
£
£
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
56,204
234,455
**TOTAL FUNDS CARRIED FORWARD**
64,445
72,075
**6.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**31.8.20**
**£**
Trade debtors
**12,500**
Prepayments
**7,486**
**19,986**
**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**31.8.20**
**£**
Other loans (see note 8)
**50,000**
Accruals and deferred income
**74,758**
Accrued expenses
**2,253**
**127,011**
**8.**
**LOANS**
An analysis of the maturity of loans is given below:
**31.8.20**
**£**
Amounts falling due within one year on demand:
Other loans
**50,000**|Total
funds
£
290,659
136,520
31.8.19
£
-
3,754
3,754
31.8.19
£
-
122,144
2,253
124,397
31.8.19
£
-|Total
funds
£
290,659|
|---|---|---|
|||136,520|
continued...
Page 12
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 August 2020**
## **9. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
Building Development Reserve Fund
Website
**TOTAL FUNDS**
Net movement in funds, included in the above are as
**Unrestricted funds**
General fund
**Restricted funds**
Building Development Reserve Fund
Website
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Building Development Reserve Fund
Website
**TOTAL FUNDS**|At 1/9/19
£
**64,445**
**63,275**
**8,800**
**72,075**
**136,520**
follows:|Net
movement
in funds
£
**21,288**
**(148,685)**
**(7,300)**
**(155,985)**
**(134,697)**
Incoming
resources
£
**200,213**
**73,212**
**-**
**73,212**
**273,425**
At 1/9/18
£
56,204
234,455
-
234,455
290,659|Transfers
between
At
funds
31/8/20
£
£
**(85,410)**
**323**
**85,410**
**-**
**-**
**1,500**
**85,410**
**1,500**
**-**
**1,823**
Resources
Movement
expended
in funds
£
£
**(178,925)**
**21,288**
**(221,897)**
**(148,685)**
**(7,300)**
**(7,300)**
**(229,197)**
**(155,985)**
**(408,122)**
**(134,697)**
Net
movement
At
in funds
31/8/19
£
£
8,241
64,445
(171,180)
63,275
8,800
8,800
(162,380)
72,075
(154,139)
136,520|
|---|---|---|---|
continued...
Page 13
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 August 2020**
## **9. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Building Development Reserve Fund
Website
**TOTAL FUNDS**|Incoming
resources
£
250,127
89,793
8,800
98,593
348,720|Resources
Movement
expended
in funds
£
£
(241,886)
8,241
(260,973)
(171,180)
-
8,800
(260,973)
(162,380)
(502,859)
(154,139)|Resources
Movement
expended
in funds
£
£
(241,886)
8,241
(260,973)
(171,180)
-
8,800
(260,973)
(162,380)
(502,859)
(154,139)|
|---|---|---|---|
||||(162,380)|
||||(154,139)|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Building Development Reserve Fund
Website
**TOTAL FUNDS**|At 1/9/18
£
56,204
234,455
-
234,455
290,659|Net
movement
in funds
£
29,529
(319,865)
1,500
(318,365)
(288,836)|Transfers
between
funds
£
(85,410)
85,410
-
85,410
-|At
31/8/20
£
323
-
1,500|
|---|---|---|---|---|
|||||1,500|
|||||1,823|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Building Development Reserve Fund
Website
**TOTAL FUNDS**|Incoming
resources
£
450,340
163,005
8,800
171,805
622,145|Resources
Movement
expended
in funds
£
£
(420,811)
29,529
(482,870)
(319,865)
(7,300)
1,500
(490,170)
(318,365)
(910,981)
(288,836)|Resources
Movement
expended
in funds
£
£
(420,811)
29,529
(482,870)
(319,865)
(7,300)
1,500
(490,170)
(318,365)
(910,981)
(288,836)|
|---|---|---|---|
||||(318,365)|
||||(288,836)|
continued...
Page 14
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 August 2020**
## **10. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 August 2020.
Page 15
**THE ROTHSAY EDUCATION CENTRE (BEDFORD) LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 August 2020**
||31.8.20|31.8.19|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Investment income**|||
|Deposit account interest|**1,152**|2,532|
|**Charitable activities**|||
|Membership and course fees|**171,938**|202,525|
|Educational visits|**9,469**|43,860|
|Donations and sundry income|**84,650**|93,698|
|Fundraising activities|**3,304**|3,620|
||**269,361**|343,703|
|**Other income**|||
|Rental income|**2,912**|2,485|
|**Total incoming resources**|**273,425**|348,720|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Tutors and direct wages|**103,520**|125,120|
|Social security|**1,431**|1,253|
|Rates and water|**1,961**|2,215|
|Insurance|**3,825**|3,060|
|Postage and stationery|**3,313**|5,073|
|Advertising|**1,825**|5,988|
|Sundries|**-**|337|
|HR and payroll costs|**1,062**|812|
|Hire of halls|**1,165**|8,988|
|Educational visits|**5,827**|36,078|
|Refreshments|**174**|139|
|Other social & educational act|**362**|574|
|Repairs and maintenance|**15,230**|8,838|
|Contract cleaning|**2,770**|3,534|
|Utilities|**3,152**|5,096|
||**145,617**|207,105|
|**Property costs**|||
|New extension|**221,897**|252,315|
|**Support costs**|||
|**Management**|||
|Wages|**33,777**|36,410|
|Carried forward|**33,777**|36,410|
This page does not form part of the statutory financial statements
Page 16
**THE ROTHSAY EDUCATION CENTRE**
## **(BEDFORD) LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 August 2020**
||31.8.20|31.8.19|
|---|---|---|
||£|£|
|**Management**|||
|Brought forward|**33,777**|36,410|
|Repairs and maintenance|**1,058**|982|
|Contract cleaning|**308**|392|
|Utilities|**350**|566|
||**35,493**|38,350|
|**Finance**|||
|Bank charges|**60**|80|
|Credit card charges|**3,235**|2,727|
||**3,295**|2,807|
|**Governance costs**|||
|Accountancy and legal fees|**1,820**|2,282|
|Total resources expended|**408,122**|502,859|
|**Net expenditure**|**(134,697)**|(154,139)|
This page does not form part of the statutory financial statements
Page 17