2020-12-31-accounts - Royal Engineers Vocational Education And Training Trust

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		Page
Trustee's report		1 —8
Reference and administrative	details ofthe charity, its trustees and advisers	9-10
Independent audhc r's report		11 —14
Statement offinancial activities
Charity balance sheet
Statement ofcash flows		17
Notes to the financial statements		18-30

					Unrestricted	Restricted	Total	Total
					funds	funds	funds	funds
					2020	2020	2020	2019
				Note
Income and	endowments		from:
Donations and legacies Investments				3 6	31,350 172,938	23,470 -	54,820 172,938	60,999 183,919
Total income					204,288	23„470	227,758	244,918
Expenditure	on:
Charitable activities				7	429,335	25,213	454,548	466,806
Total expenditure					429,335	25,213	454,548	466 806
Net income/(expenditure)			before
revaluations					(225,047)	('l,743)	(226,790)	(221,868)
Net gains/(losses)		on investments			(265,488)		(265,488)	920,079
Net movement	in	funds for the year			(490,535)	(1,743)	(492,278)	698,211
Transfers between		funds		18	(1,743)	1,743
Reconciliation	of	funds
Total funds at	1 January 2020				7,407,977		7,407,977	6,709,766
Total funds at	31	December 2020			6,915,699		6,915,699	7407,977

			Note	2020		2019
Net cash used in operating activities			22	~226,332		(16,927)
Cash fiows from investing activities
Interest and dividends Purchase oftangible fixed assets Proceeds from sale oftangible fixed assets Proceeds from sale ofinvestments Purchase ofinvestrnents				172,938 (2,121) 6,906,308 (6,514,278)		183,939 5,000 3,194,600 (3,079,892)
Cash provided by (used in) investing		activities		562,847		303,647
Increase (decrease) in cash and cash
equivalents in the year				(157,485)		286,720
Cash and cash equivalents at the	beginning		ofthe year	296,944		10,224
Total cash and cash equivalents	at the end ofthe year			139,459		296,944
Analysis ofchanges in net debt
				At 31Jan		At 31Dec
				2020	Cashflows	2020
						E
Cash and cash equivalents
Cash				296,944	(157,485)	139,459

All o	fthe donations	and legacies income was	unrestricted in 2020 and 2019.
			Restricted	Total	Total
			funds	funds	funds
			2020f	2020 f	2019
Army	Apprenticeship	Fund	23,470	23,470
REA	Grant				30000
			23,470	23,470	30,000

			Total	Total
5	Donated services and facilities		funds	funds
			2020	2019
			E	E
	Administrative	salaries	31,350	30,999

		Activities
		undertaken	Support
		directly	costs	Total	Total
		2020	2020	2020	2019
Training Development programme Registration and	Note 8 9	101,006	102,854 126,152	5 203,860 126,152	6 233,194 98,016
certification fees Health 8 safety testing Tuition costs Investment management	10 11	90,715 735	16,974	90,715 735 16,974	93,847 2,887 19,375
fees		16112		16,112	19487
		208 568	245 980	454,548	466,806

tes tothe ffinanciai statements r the year ended 31 December 2020
	Total	Total
8 Training	Funds	Funds
	2020	2019
Activities undertaken directly
Continuous personal development Professional Recognition Award Training Development Programme Continuous personal development	100,125 8,889 1,024 (9,032)	89,851 9,709 2,643 (820)
	101,006	101,383
Support costs
Depreciation offixed assets Loss on disposal offixed assets Marketing 8website	1,111 198	753 33,813 57
Legal and professional fees insurance	708 503	208 517
IT support 8 equipment Stationery Postage and telephone Photocopier Bank charges Travel and subsistence Miscellaneous costs	1,043 111 162 258 20 460 123	674 225 382 245 14 810 244
Hospitality Staff recruiting and training Staff costs	113 87,594	106 295 83,134
Donated services and facilities - admin salaries	10,450	10,333
	102,854	131,811
	203,860	233,194

Fo	r the year ended 31 December	r the year ended 31 December	2020
	9 Development programme			Unrestricted funds	Restricted funds	Total Funds	Total Funds
				2020	2020	2020	2019
	Activities undertaken	directly
	Training Development	Programme			25,213	25,213	26,266
					25,213	25,213	26,266
	Supportcosts
	Marketing &website Insurance			203 517		203 517	59 533
	ITsupport 8 equipment Stationery Postage and telephone Subscriptions Photocopier Bank charges Travel and subsistence Miscellaneous costs Hospitality Communications Hub grant Staff costs			1,075 1'l5 167 249 266 20 475 126 117 26,250 60,909		1,075 115 167 249 266 20 475 126 117 26,250 60,909	695 232 394 249 251 15 834 251 109 57,795
	Donated services and	facilities	—admin salaries	10,450		10,450	10,333
				100,939		100,939	71,750
				100939	25,213	126152	98016
10	Registration and certification		fees
						2020f	2019
	Activities undertaken	directly
	Registration Certification					68,789 21,927	77,404 16,443
						90715	93847

For the year ended 31 D	ecember 2020
11 Tuition costs		Total Funds	Total Funds
		2020	2019
Activities undertaken	directly
Training Development	Programme		2,493
			2,493
Supportcosts
Audit fee Marketing 6website Insurance ITsupport 8 equipment Stationery Postage and telephone Photocopier Fees and Licences Bank charges Travel and subsistence Miscellaneous costs Hospitality		3,498 198 503 1,043 111 162 258 35 20 460 123 113	3,240 57 517 674 225 382 245 35 14 810 244 106
Donated services and	facilities - admin salaries	10,450	10,333
		16,974	16,882
12 Net income I(expenditure)		16974	19375
This is stated after chargir, g:
		2020	2019
			5
Depreciation oftangible	fixed assets:
- owned by the charity Auditor's remuneration		1,111 3,498	753 3,240

	2020	2019
	8
Wages and salaries Social security costs Other pension costs	130,638 8,671 9,194	122,585 8,843 9,501
	148503	140929

Direct charitable	employment
Management and	administration	ofthe charity

2020	2019
7	7

Notes to the financial statements Forthe year ended 31 December 2020
		Computer
		and Office
14 Tangible fixed assets		Equipment
Cost
At 1 January 2020 Additions Dieposals		22,070 2,121 (281)
At 31 December 2020		23,910
Depreciation
At 1 January 2020 Charge for the year On disposais		19,832 1,111 (281)
At 31 December 2020		20,662
Net book value
At 31 December 2020		3,248
At 31 December 2019		2,238
15 Fixed asset investments
		Listed
		securities
Market value
At 1 January 2020 Additions Revaluations Sold		7,130,764 6,514,278 106,572 (6,906,308)
At 31 December 2020		6,646,366
Historical cost		6,485,618
Investments at market value comprise:
	2020	2019
	6
Listed investments	6 845,306	7,130,764

						2020	2019
Other debtors						11,242	26,125
17 Creditors: amounts	falling due within one		year
						2020	2019
						6	8
Trade creditors Accruals and deferred income						5,071 78,485	11,234 36,860
						83,556	48,094
18Statement offunds
Current year		Brought forward	Income	Expenditure	Transfers In/(Out)	Gains/ (Losses)	Carried forward
				E	8		6
Unrestricted funds
Unrestricted income fund		7,407,977	204,288	(429,335)	1,743	265,488	6,915,699
Restricted funds
Army Apprenticeship	Fund		23,470	25,213)	1,743
Total cffunds		7,407,977	227,758	454,548)		26s,4ee	6,91s699
Prior year		Brought forward K	Income 5	Expenditure 6	Transfers In/(Out)	Gains/ (Losses)	Carried forward 6
Unrestricted funds
Unrestricted income fund		6699766	244,938	(456,806)		920079	7407977
Restricted funds
Minley Project		10000		(10,000
Total offunds		6709766	244,938	466806		920,079	7407977


Current year	Unrestricted	Restricted	Total
	funds	funds	funds
	2020	2020	2020
	6	6	6
Tangible fixed assets Fixed asset investments Current assets Creditors due within one year	3,248 6,845,306 150,701 (83,556)		3,248 6,845,306 150,701 (83,556)
	6,915,699		6915,699

ror ye	Unrestricted	Restricted	Total
	funds	funds	funds
	2019	2019	2019
	6		6
Tangible fixed assets Fixed asset investments Current assets Creditors due within one year	2,238 7,130,764 323,069 (48,094)		2,238 7,130,764 323,069 (48,094)
	7,407,977		7,407,977

Reconciliation ofnet movement in fund cash flow from operating activities.
	Total	Total
	funds	funds
	2020	2019
Net movement in funds Add back depreciation charge Loss on disposal oftangible fixed assets Deduct interest income shown in investing activities Deduct gains Iadd back losses on investments Decrease (increase) in debtors Increase (decrease) in creditors	(492,278) 'l,111 (172,938) (106,572) 14,883 35,462	698,211 753 33,813 (183,939) (798,750) 220,764 12,201
Net cash used in operating activities	720,332	(16927)