2020-12-31-accounts

		Page
Trustees report		1-to
Statement oftrustees	responsibilities
Independent auditor's	report	12-15
Statement offinancial	activities	16
Balance sheet		17
Statement ofcash flows		18
Notes to the financial	statements	19-34

The financial	The financial	statements	statements	statements	statements	have been prepared in accordance with the accounting policies set out in note	have been prepared in accordance with the accounting policies set out in note	1 to
the financial		statements				and	comply with the charity's (governing document), the Companies Act 2006	and
"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
Objects		&		principal			The company is registered to assist with the relief ofpoverty:
activities				of	the		~ Providing access to affordable household items.
charity							~ To advance the development and education of people by providing
							opportunities to volunteer and to train, to develop work skills, social skills
							gain work experiences and encourage social integration.
							~ Recycling of furniture which would otherwise be thrown away and	by
							advancing more sustainable waste mana ement ractices.
Providing				access			Within all showrooms, donated goods are offered for sale at secondhand
to			affordable				market value after they have been quality controlled, sorted, cleaned and
household				items			safety checked.
							The company also operates an electrical &gas domestic appliances re-use
							facility that complies with all WEEE &Gas Safe regulations.
							The company offers free or discounted furniture packages to individuals
							referred to them for help and at times ofcrisis and support.
Providing							We aim to increase social skills and employment opportunities by providing
opportunities						to	volunteers with work-based learning and training.
volunteer			&	train
							Volunteers assist us with s range ofactivities throughout the organisation as
							well as management through our Board ofTrustees.
							Placements opportunities are offered to enhance employability
							advancement and rehabilitation ofex-offenders via the Probation Service.
							School placements are also supported for work-based experience taste
							sessions.
Recycling				&	waste		The company provides residents of Rhondda Cynon Taf with a reliable free
management							collection service for household items that are toogoodtowaste. People can
							also drop items offfor re-use. Items received are sorted, cleaned, and tested
							before being offered for sale within their charity showrooms.
							The company also offers a collection service for re-useable household
							goods, to commercial organisation (end-of-line or returned goods).
							The company operates a House Clearance Service to the public, solicitors,
							landlords and housing associations. This professional, income generating
							service aims to recycle or re-use the products cleared by working with
							partner organisations.
							The organisation holds a waste carriers' licence and is an Approved and
							Authorised Transfer Facility (AATF) and an Approved Re-use Centre (ARC).

PUBLIC BENEFIT	PUBLIC BENEFIT	PUBLIC BENEFIT
The trustees		have	referred to the guidance contained in the Charity Commissions'	general
guidance	on	public	benefit. The trustees will continue to consider how planned activities will
contribute	to the aims and objectives they have set.
Significant			All services, including buying from the charity showrooms are	open to
activities			everyone in order to maximise the volume of items re-used and income
undertaken		to	generated to support the charitable aims and objectives of this organisation.
further its
charitable			The organisation has also created its own hardship budget, to cover	the costs
purposes for			of stock provided free of charge to individuals who have no other	means of
public benefit			financial support to cover the essential items they need.
			We work in partnership with other organisations that provide 'emotional or
			housing support' (e.g. social services departments, Women's Aid, drug &
			alcohol support services, churches, mental health groups, etc.j The practical help provided by this organisation enhances the work of its partners, therefore
			increasing the overall impact ofthe assistance provided.
			Many ofthe people referred to this organisation for help are in crisis	situations
			without any financial support. The organisation helps immediately	to people
			affected by domestic violence and other life affecting crisis situations.
			The organisation values the contribution received from its volunteers and
			strives to provide services that help customers and beneficiaries feel positive
			about the help received.
			With high levels of unemployment in the area and few opportunities	for people
			to gain work experience, the organisation is committed to developing	its ability
			to deliver work-based learning. The training room and use of ICT equipment
			and software gives us the opportunity to provide volunteers and placements
			with transferable skills to enhance their employment opportunities.
			Items are quality control checked. Minor repairs and deaning is	provided
			where necessary before being resold through our charity shops.
			External rants are sou ht to rovide match fundin for our activities.

Although the	Although the	Covid-19 pandemic significantly impacted how we operated	Covid-19 pandemic significantly impacted how we operated	Covid-19 pandemic significantly impacted how we operated	Covid-19 pandemic significantly impacted how we operated	in 2020, below is	some	of the	of the
great work	we have done, the difference made to the local community and					some ofthe achievements			o
our staff &volunteers.
Maintaining			The partnership working with DHL/Dixon Carphone		Group has continued providing
& increasing			access to re-usable domestic appliances WEEE.
quality		&
quantity			We received commercial donations from	IKEA,	John Lewis, Airsprung,			David
goods			Phillips, Starbucks, Asda and Ecover.
available
			Partnership working with Play it Again Sport has			enabled the supply		of a
			selection ofbargain sports kit which is available to		buy in our Ynyshir showroom.
			We also worked with Pare Prison, Bridgend	to deliver flat pack furniture and pic
			up assembled furniture.
Helping income		low-	We continued to work closely with referral partners to identify individuals families in need. Over 400 individuals benefiitted in 2020, this included over					and 120
households			households affected by flooding
Providing
opportunities		to	In total, 226 people supported us, and they provided			the organisation	with	over
volunteer	6 train		26,000 hours in an unpaid capacity.
			6 people finished their volunteering/work	placement with us to			start	paid
			employment.
Recycling waste		&	632 Tonnes of waste was diverted from	landfill	in	2020 which equalled		over
management			70,000 re-usable items.
			Over 82,000 items were collected from local	residents		and commercial	donators.

The organisation	The organisation	The organisation	The organisation		had a very challenging year in 2020. The coronavirus Covid-19 and consequential	had a very challenging year in 2020. The coronavirus Covid-19 and consequential	had a very challenging year in 2020. The coronavirus Covid-19 and consequential
restrictions imposed by the government meant that the majority ofour income sources ceased on 23rd March 2020 until we safely re-opened in July 2020 and another firebreak lockdown in October 2020.
During these			lockdowns, all charity showrooms closed to the public and commercial contracts also
ceased. We		were,				however, able to continue some partnership working to provide essential furnitur
and electrical			items,			on a referral basis, to help those still in need.
II retail	and		operational staff were placed on furlough and the organisation made use of the
Government's			Employment retention scheme to cover these salary costs. As well as this, a review ofou
operational		costs			was conducted to mitigate the impact on the charity's finances and make saving
herever possible.						It	has also benefitted from Welsh Government Grants for non-domestic Rates relic
on our buildings.
Income		from					Donations were received from Moondance Foundation f25,000,Barclays
donations			and				COVID-19 Community Relief Fund 5100,000and Admiral Group f2,500.
legacies
							Income generated from Gift Aid Retail Scheme was 88,066.
Income		from					The Service level agreement with RCT Environmental services was maintained
Charitable							at 620,000for the year.
Activities
							Income generated through our charity showrooms from the supply ofhousehold
							items was reduced by 23% to 8776,740 (2019: F1,008,120) due to reduced
							trading days in the year.
							The value of performance related grants was f482,265 (2019: 5133,402).
							These were to support the organisation through the Covid-19pandemic.
							These included funding from Pen y Cymoedd Wind Farm Community Fund f25,000, Community Foundation Wales 615,000, RCT rates relief 5162,000,
							Government Job Retention Scheme 5175,564, Lottery Peopie & Places
							Community Fund 631,000, WEEE Fund 625,000, Lloyds Bank Foundation F25,000,Tescof500, Co-operative food 8500, and Neighbourly F400.
Expenditure				for			The cost of providing Charitable activities decreased in the year to F1,394,838
Charitable							(61,418,959 in 2019).
Activities
							The organisation had increased its staff numbers and external storage facilities
							at the beginning of 2020. With support from the Government's Employment
							retention scheme, all staff were able to be retained during the year.
							During the pandemic, new items were purchased in order to supply essential
							furniture &electrical items to our local council's Housing Advice Centre.
							Following our re-opening in July 2020, the number of volunteers 8 placements
							that we are able to safely accommodate was reduced in order to comply with
							social distancing regulations.
							Included in the above costs for Charitable activities are depreciation costs of
							696,343a decrease on the previous year of8194,022 due to the completion of
							the Treorch renovations.

FINANCIAL REVIEW (continued)	FINANCIAL REVIEW (continued)	FINANCIAL REVIEW (continued)	FINANCIAL REVIEW (continued)	FINANCIAL REVIEW (continued)
Net	movement	in	funds	With Grant and donation support received during the year enabled the
				organisation to show an overall operating surplus on unrestricted funds
				off101,309.
				A surplus off18,421 is in restricted funds this year is after depreciation
				has been deducted off83,581.
				Af100,000donation from Barclays Bank has been retained at the year-
				end to support the organisation during 2021 as another lockdown was
				planned.
				The unrestricted surplus for the year has enabled the organisation to
				increase its Designated fund by f80,000.The remainder will be retained
				within the General Fund.
				We are very grateful to the Trusts & Organisations who have donated
				grants to us during the year, this shows how much the work of
				toogoodtowaste is valued.
Reserves Policy				The organisation aims to retain adequate reserves to fund both fixed
				assets and working capital.
				It is the Trustees' view that working capital reserves amounting to three
				months' expenditure are adequate, f300,000 (excluding depreciation).
				The organisation also aims to retain an adequate designated reserve to
				cover the closure costs arising from a significant reduction in income
				amounting tof100,000.This designated reserve has now been met.
				The free reserves i.e., those not tied up in fixed assets and designated
				funds held on 31stDecember 2020 amounted to f42,742. While this is
				significantly below the f300,000figure set by the trustees, the intention
				remains to rebuild reserves to the desired level as soon as feasible.
				The trustees are aware ofthe risks of not having sufficient reserves and
				the reserves policy will be reviewed as part of our future strategy
				lannin .
Pay	Policy	for	senior	The pay of senior staff is reviewed annually by the board of directors.
staff				The organisation, guided by the board of directors, have adopted a set
				of principles when setting charity staff remuneration, so as to achieve a
				balance between fair pay to attract and keep appropriately qualified staff to lead, manage and support or deliver the charit 's aims.

RISKEIANAGEMENT
Risk review	The	board of directors have	a risk	management strategy which
	compriises:
		.An annual review ofthe principal		risks and uncertainties that the
		charity faces;
		~ the establishment of new	policies,		systems	and procedures		to
		mitigate those risks identified in the			annual review; and
		~ The implementation of	procedures		designed to minimise			o
		manage any potential impact on		the charity		should	those risks
		msterialise.
	Attention is also focused on non-financial				risks by	having a	proactive
	approach to Health & Safety,		which	is	managed	by a	NEBOSH
	qualified member ofthe organisation. As			part ofthe		induction	process
	all	new personnel (paid and	unpaid)		receive	health	& safety
	awareness and manual handling		trainin	.

STRUCTURE	GOVERNANCE	8 MANAGEMENT continued
Vision Statement		Maximise potential —Minimise waste
Mission Statement		toogoodtowaste is committed to changing people's lives every day,
		through developing and implementing sustainable Social Enterprises
		that meet the changing needs ofthe communities we serve.
Organisational	Structure	The Chief Executive Officer (CEO) is responsible for the strategic
		growth and vision ofthe organisation, reporting to the Board of
		Directors.
		The Finance Manager is responsible for the financial accountability		and
		financial analysis, reporting to the CEO and Finance Sub Committee.
		Other core staff include Retail Manager, Operations Manager,
		Marketing Officer, Trainer/Volunteer Co-Ordinator, Workshop
		Supervisor, Finance Assistant, 4 Domestic Appliance Engineers, 7
		Van Supervisors, 8 Customer Service Supervisors, Warehouse
		Supervisor, Logistics Clerk, 2 Brica Bracsupervisors, Electrical
		Cleaning Supervisor, Call Centre Supervisor and a Cleaner.
		In addition to these 34 paid positions, the organisation relies on
		volunteer support from around 30 individuals each day.
Related parties		To identify and assist those people in greatest need the organisation
		works with other Charities, Housing Associations, Community groups
		and Local Authority Social Services Departments, to accept referrals		for
		free or discounted furniture packages.
		There isa Memorandum ofUnderstanding with the Local Authority
		Environmental Services Department and a partnership agreement	with
		the Children's Services Department.
		As part of Reuse Network, agreements have been
		established via commercial contracts with DHL and Dixon
		Group, Airsprung, IKEA and John Lewis.
		There isa legal charge on the property (Ynyshir Road, Ynyshir CF39
		OAT) as part ofthe Big Lottery/WG Community Asset Transfer Grant.
		There isa legal charge on the property (Horeb Street, Treorchy,
		CF42 6RU) as part ofthe Big Lotte Peo le &Places Grant.

LEGAL AND	ADMINISTRATIVE DETAILS	ADMINISTRATIVE DETAILS
Charity name		toogoodtowaste	Limited
Registered	numbers	Company Number: 03286173
		Charity Number.	1064588
Registered	office	Ynyshir Road, Porth, CF39 OAT.
Other operating		Unit 3Aberaman	Ind. Park, Aberaman,				Aberdare,				Rhondda			Cynon
premises		Taf CF44 6DA
		Units 1 &2 Ynyshir Road. Ynyshir,				Porth,		Rhondda				Cynon		TafCF39 OAT
		Horeb Street, Treorchy, Rhondda			Cynon			Taf,	CF42			6RU
		Unit 2, Pare Busnes Treorci, Abergorki					Industrial			Estate,			Treorchy.		CF42
		6DL
		Units 15a &16Gwent Shopping			Centre,			Tredegar.			NP22		3EJ
Board ofDirectors		Dave Henderson							Chairman
and Trustees		David Lewis							Vice —Chairman
		Dr. Dafydd Trystan Davies
		Malcolm Gay
		Rhiannon Holtham
		Michael Bryan
		Lee Foulkes
		Philip Moss
		Natasha Lewis
		Stephen Merritt							Resigned				12/1/2020
		Kelvin Jones							Appointed				14/12/2020
Advisors		Auditors
		Azets Audit Services, Chartered		Accountants					&Statutory				Auditors,		Ty
		Derw, Lime Tree	Court, Cardiff	Gate Business					Park,			Cardiff		CF23	8AB
		Bankers
		Barclays Bank Pic, Pontypridd,		Rhondda				Cynon		Taf.CF37				4YA
		Solicitors
		Eversheds Sutherland, 1 Callaghan				Square,			Cardiff. CF10					5BT
Key Management		Shaun England Rhian Edwards	Chief Executive Of/leer Finance Manager 8 Company									Secretary
		Miranda Keen	Retail Manager
		Geraint Davies	Operations		Manager

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2020	2020	2020	2019	2019	2019
		Notes	6		8	8		6
m n
Donations and	legacies		18,580	125,000	143,580	11,376		11,376
Charitable activities			877,004	480,265	1,357,269	1,134,053	133,402	1,267,455
Other trading activities			1,479		1,479	3,870		3,870
Sale ofassets			10,240		10,240
T'otal Income			907,303	605,265	1,512,568	1,149,299	133,402	1,282,701
Q~endi~u
Charitable activities			805,994	588,844	1,394,838	1,145,895	273,064	1,418,959
Net income/(expenditure)
for the year/
Net movement	in funds		101,309	16,421	117,730	3,404	(139,662)	(136,258)
Fund balances	at 1
January 2020			371,515	860,594	1,232,109	368,111	1,000,256	1,368,367
Fund balances	at 31
December 2020			472,824	877,015	1,349,839	371,515	860,594	1,232,109

				2020		2019
			Notes	6		6
Fixed assets
Tangible assets					1,107,097	1,202,194
Current assets
Stocks			12	18,032		8,629
Debtors			13	44,658		58,221
Cash at bank and	in	hand		340,270		32,989
				402,960		99,839
Creditors: amounts		falling due within	14
one year				(160,218)		(69,924)
Net current assets					242,742	29,915
Total assets less	current liabilities				1,349,839	1,232,109
Income funds
Restricted funds ~dti t y			17		877,015	860,594
Designated funds			18	100,000		20,000
General unrestricted		funds		372,824		351,515
					472,824	371,515
					1,349,839	1,232,109

							2020		2019
						Notes	5
Cash flows from operating				activities
Cash generated from		operations				25		248,288
Investing	activities
Purchase	oftangible	fixed	assets				(1,247)		(79,997)
Proceeds	on disposal	oftangible			fixed
assets							10,240
Net cash	generated	from/(used			in)
investing	activities							8,993
Financing	activities
Bank financing							50,000
Net cash	generated	froml(used			In)
financing	activities							50,000
Net increasel(decrease)			in	cash and		cash
equivalents								307,281
Cash and	cash equivalents			at beginning		ofyear		32,989
Cash and	cash equivalents			at end of		year		340,270

			2020	2019
			6	8
Service level agreement			20,000	20,000
Performance related grants			480,265	133,402
Household items supplied			776,740	1,008,120
Social enterprise projects			80,264	105,933
			1,357,269	1,267,455
Analysis by fund
Unrestricted funds			877,004
Restricted funds			480,265
			1,357,269
Forthe year ended 31		December 2019
Unrestricted funds				1,134,053
Restricted funds				133,402
				1,267,455
Performance related	grants
Big Lottery - Revenue	Grant		31,051	92,270
Job Retention Scheme			175,564
Lloyds Bank Foundation			25,000	25,000
Blaenau Gwent			20,000
RN WEEE Fund			25,000
RCT Rates Grants			162,000
Miscellaneous Grants			1,650	800
Community Foundation		Wales	15,000
Co-op Community Fund				1,576
Pen YCymoedd Wind	Farm		25,000	13,756
			480,265	133,402

			Unrestricted	Unrestricted
			funds	funds
			2020	2019
			6	5
Sundry	income		581
Rental	income		898	3,870
Other	trading	activities	1,479	3,870

							Unrestricted	Total
							funds
							2020	2019
							5
Net	gain	on	disposal	oftangible	fixed	assets	10,240

		2020	2019
		8	6
Staffcosts		790,299	698,859
Volunteer costs		37,345	82,993
Transport costs		133,210	140,332
Cost ofgoods		138,360	114,652
		1,099,214	1,036,836
Share ofsupport costs (see note 8)		290,311	376,623
Share ofgovernance	costs (see note 8)	5,313	5,500
		1,394,838	1,418,959
Analysis by fund
Unrestricted funds		805,994	1,145,895
Restricted funds		588,844	273,064
		1,394,838	1,418,959
Forthe year ended	31December 2019
Unrestricted funds		1,145,895
Restricted funds		273,064
		1,418,959

8	Supportcosts	Supportcosts
				Support	Governance	2020	2019	Basis of
				costs	costs			allocation
				5
	Depreciation			96,343		96,343	194,022	Staffcosts
	Advertising	and meetings		5,377		5,377	9,704	Staffcosts
	Premises	costs		124,356		124,356	106,416	Staff costs
	Telephone	and administration		43,625		43,625	45,250	Staff costs
	Legal and	professional	fees	4,183		4,183	4,398	Staff costs
	Insurances			10,424		10,424	10,655	Staff costs
	Bank charges			6,003		6,003	6,178	Staff costs
	Audit fees				5,313	5,313	5,500	Governance
				290,311	5,313	295,624	382,123
	Analysed	between
	Charitable	activities		290,311	5,313	295,624	382,123

The average	number ofemployees, analysed by functio	n was:
		2020	2019
		Number	Number
Charitable activities		32	29
Governance		2	2
		34	31
Employment	costs	2020	2019
		Z	6
Wages and salaries		728,257	640,221
Social security	costs	46,208	43,862
Other pension	costs	11,315	10,024
Staff training and expenses		4,519	4,752
		790,299	698,859

Tangible fixe	d assets
			Freehold	Leasehold	ONce	Tools and Motor vehicles		Total
			property 6	improvements 6	equipment E	equipment f	6	8
Cost
At 1 January	2020		1,660,777	7,960	11,805	7,207	43,5181,731,267
Additions			1,247					1,247
Disposals							(43,518)	(43,518)
At 31 December 2020			1,662,024	7,960	11,805	7,207	-1,688,996
Depreciation	and
impairment
At 1 January	2020		466,144	7,960	8,627	2,825	43,518	529,074
Depreciation	charged	in the
year			93,542		1,604	1,197		96,343
Eliminated in	respect of
disposals							(43,518)	(43,518)
At 31 December 2020			559,686	7,960	10,231	4,022		581,899
Carrying amount At 31 December 2020			1,102,338		1,574	3,185	-1 107097
At 31 December 2019			1,194,631		3,181	4,382	-1,202,194

12	Stocks
				2020	2019
				6	2
	Finished goods and goods for resale			18,032	8,629
13	Debtors
				2020	2019
	Amounts falling due within one year:			6	6
	Trade debtors			12,383	14,068
	Other debtors			5,554	8,762
	Prepayments	and accrued income		26,721	35,391
				44,658	58,221
14	Creditors: amounts falling due within one year
			Notes	2020f	2019 5
	Bankloans		15	50,000
	Deferred income			16,715	11,227
	Trade creditors			27,268	37,438
	Other creditors			19,455	15,879
	Accru ale			46,780	5,380
				160,218	69,924
15	Loans and overdrafts
				2020	2019
					E
	Bank loans			50,000
	Payable within	one year		50,000

Deferred incom	e	(C	ontinued)
		6	8
Balance brought	forward	11,227	38,756
Income received	in the year	16,715	38,756
Released to income		(11,227)	(66,285)
Balance carried	forward	16,715	11,227

		Movement	in funds		Movement	in funds
	Balance at	Incoming	Resources	Balance at	Incoming	Resources	Balance at
	1January 2010	resources	expendedt	January 2020	resources	expended	31 December
							2020
					6	6	8
Welsh
Church Act-
Capital	6,000		(2,000)	4,000		(2,000)	2,000
Big Lottery-
Community
Asset
Transfer-
Capital	361,872		(14,797)	347,075		(14,797)	332,278
SEWCED
Electrical-
Capital	7,881		(2,626)	5,255		(2,626)	2,629
WRAP-
Capital	573		(573)
RCT
Together-
Capital	9,450		(9,450)
Welsh
Government
CFAP-
Capital	121,045		(40,348)	80,697		(40,348)	40,349
Big Lottery-
People &
Places-
Capital	368,038	31,775	(99,088)	300,725		(17,159)	283,566
Miscellaneou
s - Capital	476		(462)	14		(14)
Pen y
Cymoedd
Wind Farm-
Capital	123,921	13,756	(14,849)	122,828		(6,635)	116,193
Groundwork
UK (Tesco)	1,000		(1,000)		500	(500)
Lloyds Bank
Foundation		25,000	(25,000)		25,000	(25,000)

Restricted funds						(Continued)	(Continued)
Moondance
Foundation					25,000	(25,000)
Miscellaneou
s		2,376	(2,376)		1,150	(1,150)
Big Lottery-
People 8
Places		60,494	(60,494)		31,051	(31,051)
Welsh
Government					182,000	(182,000)
Job
Retention
Scheme					175,564	(175,564)
Barclays
Bank					100,000		100,000
Pen y
Cymoedd
Wind Farm					25,000	(25,000)
Reuse
Network					25,000	(25,000)
Community
Foundation
Wales					15,000	(15,000)
	1,000,256	133,401	(273,063)	860,594	605,265	(588,844)	877,015

							Movement
							in funds
				Balance at	Transfers	Balance at	Incoming	Balance at
			1	January 2010	1	January 2020	resources	31 December
								2020
								8
Project	closure	costs		30,000	(10,000)	20,000	80,000	100,000
				30,000	(10,000)	20,000	80,000	100,000

19	Analysis of	net assets	between funds
			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2020	2020	2020	2019	2019	2019
			6	8		6	6	f
	Fund balances at
	31 December
	2020 are
	represented	by:
	Tangible assets		330,082	777,015	1,107,097	341,600	860,594	1,202,194
	Current assets/
	(liabilities)		142,742	100,000	242,742	29,915		29,915
			472,824	877,015	1,349,839	371,515	860,594	1,232,109

						2020	2019
						6	6
	Within one year					98,768	115,654
	Between two and five years					117,112	162,446
						215,880	278,100
25	Cash generated from	operations				2020	2019
						6
	Surplus/(deficit) for the	year				117,730	(136,258)
	Adjustments for:
	Gain on disposal oftangible		fixed assets			(10,240)
	Depreciation and impairment		of	tangible fixed assets		96,343	194,022
	Movements in working	capital:
	(Increase) in stocks					(9,402)	(7,629)
	Decrease in debtors					13,563	32,226
	Increase in creditors					34,806	2,756
	Increase/(decrease) in	deferred		income		5,488	(27,529)
	Cash generated from	operations				248,288	57,588
26	Analysis ofchanges	in net	funds
					At 1 January	Cash flows	At 21 December
					2020		2020
					6	6	6
	Cash at bank and in hand				32,989	307,281	340,270
	Loans falling due within one		year			(50,000)	(50,000)
					32,989	257,281	290,270