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2020-12-31-accounts
|
Page |
| Trustees'Report |
2-ID |
| StatementofTrustees'Responsibilities |
II |
| IndependentAuditor'sReport |
12-14 |
| ConsolidatedStatementofFinancialActivities |
15 |
| BalanceSheets-Consolidated andCharity |
16 |
| ConsolidatedCashFlowStatement |
17 |
| AccountingPolicies |
18-20 |
| Noles to theFinancialStatements |
21-33 |
|
|
Unrestricted |
Restricted |
Total |
|
Total |
|
Notes |
Funds |
Funds |
Funds |
|
Funds |
|
|
2020 |
2020 |
2020 |
|
2019 |
|
|
£ |
£ |
£ |
|
£ |
| Income from: |
|
|
|
|
|
|
| Donationsand legacies |
|
1,728,377 |
49,991 |
1,778,368 |
|
2,540,908 |
| Othertradingactivities |
|
17,599 |
|
17,599 |
|
691,503 |
| Investments |
|
34,227 |
|
34,227 |
|
32,478 |
| Other |
|
26,611 |
|
26,611 |
|
|
| Total income |
|
1,806,814 |
49,991 |
1,856,805 |
|
3,264,889 |
| Expenditureon: |
|
|
|
|
|
|
| Raising funds |
2 |
1,673,457 |
|
1,673,457 |
|
2,063,651 |
| Charitableactivities: |
|
|
|
|
|
|
| Grantmaking |
3 |
220,199 |
85,246 |
305,445 |
|
353,670 |
| ResidentialHome-Peterhouse |
3 |
|
|
|
|
61,768 |
| CareersCounselling/AdviceLine |
3 |
1,259,331 |
|
1,259,331 |
|
1,421,700 |
| Totalexpenditure |
|
3,152,987 |
85,246 |
3,238,233 |
|
3,900,789 |
| Netgainoninvestments |
9 |
358,315 |
|
358,315 |
|
445,662 |
| Net(expenditure) |
7 |
(987,858) |
(35,255) |
(1,023,113) |
|
(190,238) |
| Netmovementinfunds |
|
(987,858) |
(35,255) |
(1,023,113 |
) |
(190,238) |
| Fundbalances broughtforwardatIJanuary |
|
6,580,472 |
104,102 |
6,684,574 |
|
6,874,812 |
| Fund balancescarried forward at31 December |
14a |
5,592,614 |
68,847 |
5,661,461 |
|
6,684,574 |
|
|
Group |
|
Charity |
|
|
Notes |
|
|
|
|
|
|
2020 |
2019 |
2020 |
2019 |
|
|
£ |
£ |
£ |
£ |
| FIXEDASSETS |
|
|
|
|
|
| Tangibleassets |
8 |
319,528 |
346,608 |
319,528 |
346,608 |
| Investments |
9 |
4,810,188 |
4,676,365 |
4,810,190 |
4,676,367 |
|
|
5,129,716 |
5,022,973 |
5,129,718 |
5,022,975 |
| CURRENTASSETS |
|
|
|
|
|
| Debtors |
lO |
962,917 |
1,004,262 |
966,214 |
990,166 |
| Cashatbank andinhand |
|
1,321,168 |
1,327,844 |
1,276,483 |
1,179,447 |
|
|
2,284,085 |
2,332,106 |
2,242,697 |
2,169,613 |
| CREDITORS:Amountsfallingdue |
|
|
|
|
|
| withinone year |
11 |
(1,752,340) |
(670,505) |
(1,729,110) |
(530,628) |
| NETCURRENT ASSETS |
|
531,745 |
1,661,601 |
513,587 |
1,638,985 |
| TOT ALNETASSETS |
|
5,661,461 |
6,684,574 |
5,643,305 |
6,661,960 |
| Representedby: |
|
|
|
|
|
| FUNDS |
|
|
|
|
|
| RestrictedFunds |
12 |
68,847 |
104,102 |
68,847 |
104,102 |
| Unrestrictedfunds: |
|
|
|
|
|
| Designatedfunds |
13 |
215,343 |
242,866 |
215,343 |
242,866 |
| Generalfunds |
14 |
5,377,271 |
6,337,606 |
5,359,115 |
6,314,992 |
| TOTAL FUNDS |
|
5,661,461 |
6,684,574 |
5,643,305 |
6,661,960 |
|
_Notes: _ |
2020 |
2019 |
| OPERATfNGACTIVITIES |
|
£ |
£ |
| Cash (usedin)operations |
15a |
(1,350,039) |
(715,587) |
| Corporationtaxespaid |
|
(186) |
(186) |
| Netcash(usedin)operatingactivities |
|
(1,350,225) |
(715,773) |
| INVESTINGACTIVITIES |
|
|
|
| Purchaseoftangible fixedassets |
|
(15,170) |
(376,348) |
| Purchaseofinvestments |
|
(27,312) |
(1,300,000) |
| Saleofinvestments |
|
251,804 |
|
| Interestreceived |
|
10,684 |
5,616 |
| Dividendsreceived |
|
23,543 |
|
| Netcash(usedin)/generatedbyinvestingactivities |
|
243,549 |
(1,670,732) |
| FfNANCfNGACTIVITIES |
|
|
|
| Proceedsofnewbankloans |
|
1,100,000 |
|
| Net(decrease) incashandcashequivalents |
|
(6,676) |
(2,386,505) |
| Cashandcashequivalents at thebeginningoftheyear |
|
1,327,844 |
3,714,349 |
| Cashandcashequivalents attheendoftheyear |
15b |
1,321,168 |
1,327,844 |
|
INCOME FROMDONATIONS ANDLEGACIES |
2020 |
2019 |
|
|
£ |
£ |
|
Donations |
1,724,877 |
2,506,125 |
|
Legacies |
3,500 |
23 |
|
Restricted donations |
49,991 |
34,760 |
|
|
1,778,368 |
2,540,908 |
|
INCOMEFROM INVESTMENTS |
2020 |
2019 |
|
|
£ |
£ |
|
Income fromlisted investments-dividends |
23,543 |
19,894 |
|
-interest |
3,769 |
6,968 |
|
Bank interestreceivable |
6,915 |
5,616 |
|
|
34,227 |
32,478 |
|
OTHERINCOME |
2020 |
2019 |
|
|
£ |
£ |
|
CJRS |
26,611 |
|
|
|
26,611 |
|
| 2 |
EXPENDITURE ONRAISING FUNDS |
2020 |
2019 |
|
|
£ |
£ |
|
Fundraising costs |
1,013,461 |
1,500,520 |
|
Brandrelevance/marketing costs |
633,385 |
563,131 |
|
CJRS |
26,611 |
|
|
|
1,673,457 |
2,063,651 |
|
2020 |
2020 |
2020 |
2019 |
2019 |
2019 |
|
Direct |
Indirect |
Total |
Direct |
Indirect |
Total |
|
Costs |
Support costs |
|
Costs |
Support costs |
|
|
£ |
£ |
£ |
£ |
£ |
£ |
| Grant making |
305,445 |
|
305,445 |
353,670 |
|
353,670 |
| Residential home- |
|
|
|
61,768 |
|
61,768 |
| Peterhouse |
|
|
|
|
|
|
| Careers/counselling/ |
493,402 |
621,622 |
1,115,024 |
668,551 |
628,943 |
1,297,494 |
| Advice Line |
|
|
|
|
|
|
| Governance |
68,225 |
76,082 |
144,307 |
70,357 |
53,849 |
124,206 |
|
867,072 |
697,704 |
1,564,776 |
1,154,346 |
682,792 |
1,837,138 |
| 4 |
fNDIRECT SUPPORT COSTS |
2020 |
2019 |
|
|
£ |
£ |
|
Provisions,catering and utility costs |
87,843 |
112,046 |
|
Property and equipment maintenance |
91,398 |
96,056 |
|
Other operating costs and depreciation |
506,512 |
474,690 |
|
|
685,753 |
682,792 |
| 5 |
ANALYSIS OF STAFF COSTS AND THE COST OF KEY |
2020 |
2019 |
|
MANAGEMENT PERSONNEL |
No |
No |
|
The average numberofstaff employed by the charity was: |
|
|
|
Fundraising |
12 |
12 |
|
Welfare and counselling |
12 |
Il |
|
Administration and management |
13 |
lO |
|
|
|
--- |
|
|
37 |
33 |
|
|
2020 |
2019 |
|
|
£ |
£ |
|
Their total remuneration was: |
|
|
|
Wages and salaries |
1,480,409 |
1,385,740 |
|
Social security costs |
154,764 |
131,998 |
|
Pension costs |
64,098 |
51,412 |
|
Temporary staff |
61,034 |
31,187 |
|
|
1,760,305 |
1,600,337 |
| Thenumberofemployeeswhoseemoluments(salaries, |
wagesandbenefitsin kind) fellwithin thefollowing |
wagesandbenefitsin kind) fellwithin thefollowing |
| bandsis: |
|
|
|
2020 |
2019 |
| £60,000-£70,000 |
3 |
2 |
| £80,00I-£90,000 |
2 |
|
£130,001
-£140,000 |
|
|
| The net income forthe |
groupisstated aftercharging: |
2020 |
2019 |
|
|
£ |
£ |
| Depreciation |
|
42,250 |
32,191 |
| Operatingleasecosts |
-landandbuildings |
227,533 |
242,271 |
|
-other |
10,829 |
11,542 |
| Auditor'sremuneration |
-StatutoryAudit-currentyear |
30,716 |
32,683 |
|
-Corporationtax |
6,648 |
3,600 |
| 8 |
TANGIBLEFIXEDASSETS
GROUPANDCHARITY |
- |
|
|
|
|
|
|
|
Furniture |
|
|
|
|
|
Office |
and |
Computer |
|
|
|
|
refurbishment |
equipment |
equipment |
Total |
|
|
|
£ |
£ |
£ |
£ |
|
|
Cost |
|
|
|
|
|
|
IJanuary2020 |
349,711 |
26,637 |
13,649 |
389,997 |
|
|
Additions |
12,744 |
2,426 |
|
15,170 |
|
|
3IDecember2020 |
362,455 |
29,063 |
13,649 |
405,167 |
|
|
Depreciation |
|
|
|
|
|
|
IJanuary2020 |
26,343 |
3,916 |
13,130 |
43,389 |
|
|
Charged intheperiod |
35,959 |
5,772 |
519 |
42,250 |
|
|
3IDecember 2020 |
62,302 |
9,688 |
13,649 |
85,639 |
|
|
Netbookvalue |
|
|
|
|
|
|
3IDecember 2020 |
300,153 |
19,375 |
|
319,528 |
|
|
|
|
|
= |
|
|
|
31December 2019 |
323,368 |
22,721 |
519 |
346,608 |
|
| 9 |
TNVESTMENTS-GROUPANDCHARITY |
|
|
|
2020 |
2019 |
|
|
|
|
|
£ |
£ |
|
Listed intheUK |
|
|
|
4,795,734 |
4,661,911 |
|
Unlisted(charityonly) |
|
|
|
2 |
2 |
|
Programmerelatedinvestments |
|
|
|
14,454 |
14,454 |
|
|
|
|
|
4,810,190 |
4,676,367 |
|
_Investmentslisted in the UK _ |
|
|
|
|
|
|
Marketvalue asatIJanuary |
|
|
|
4,661,911 |
2,889,387 |
|
Disposalofinvestmentduring |
theyear |
|
|
(251,804) |
1,300,000 |
|
Incomere-invested |
|
|
|
27,312 |
26,862 |
|
Netgain/(loss)oninvestments |
|
|
|
358,315 |
445,662 |
|
Marketvalueat31December |
|
|
|
4,795,734 |
4,661,911 |
|
Allthecharity'slistedinvestmentsareheld in asingleinvestmentaccount. |
|
|
|
|
|
|
Themarketvalueoftheseinvestments asat3IDecember |
|
|
2020comprises: |
|
|
|
|
|
|
|
2020 |
2019 |
|
|
|
|
|
£ |
£ |
|
ListedUKInvestments |
|
|
|
4,795,734 |
4,661,911 |
|
2020 |
2019 |
|
£ |
£ |
| Thehistoricalcostoftheseinvestmentsis: |
3,338,000 |
3,650,000 |
| Listed UKInvestments |
|
|
| _Unlisted investments _ |
|
|
| _Subsidiary undertaking _ |
Classa/holding |
Proportionheld |
Nature ofbusiness |
| NABSTradingLimited |
Ordinary |
100% |
Fundraisingevents |
|
|
|
|
£ |
| Amountsbroughtforwardfrom prioryear |
|
|
|
14,454 |
| Amountsrepaidintheyear |
|
|
|
|
| Amountscarriedforward |
|
|
|
14,454 |
| lODEBTORS |
|
|
|
|
|
Group |
Group |
Charity |
Charity |
|
2020 |
2019 |
2020 |
2019 |
|
£ |
£ |
£ |
£ |
| Amounts duefromgroupundertakings |
|
|
|
77,740 |
| Eventdebtors |
410,321 |
773,959 |
413,618 |
702,123 |
| Otherdebtors |
|
2,068 |
|
2,068 |
| Prepaymentsandaccruedincome |
552,596 |
228,235 |
552,596 |
208,235 |
|
962,917 |
1,004,262 |
966,214 |
990,166 |
| IICREDITORS:Amounts falling due within one |
|
|
|
|
| year |
Group |
Group |
Charity |
Charity |
|
2020 |
2019 |
2020 |
2019 |
|
£ |
£ |
£ |
£ |
| Bank loan-CBILS |
1,100,000 |
|
1,100,000 |
|
| Amounts due to group undertakings |
|
|
173,351 |
|
| Trade creditors |
51,923 |
66,250 |
51,795 |
64,218 |
| Other taxation & social security |
54,078 |
70,025 |
57,779 |
59,849 |
| Other creditors |
5,772 |
3,125 |
5,772 |
3,125 |
| Corporation tax |
11,951 |
186 |
|
|
| Accruals and deferred income |
528,616 |
530,919 |
340,413 |
403,436 |
|
|
--- |
|
|
|
1,752,340 |
670,505 |
1,729,110 |
530,628 |
|
|
= |
|
|
| Deferred income: |
2020 |
2019 |
|
£ |
£ |
| Deferred income brought forward |
163,968 |
154,637 |
| Amounts deferred in the year |
244,601 |
163,968 |
| Amounts releasedinthe year |
(163,968) |
(154,637) |
|
--- |
--- |
| Deferred income carried forward |
244,601 |
163,968 |
| FutureLeadersFund |
£ |
| As atlJanuary2020 |
94,119 |
| Received |
40,000 |
| Expended |
(75,128) |
| As at3lDecember 2020 |
58,991 |
| David PiltonAward |
|
| As atlJanuary2020 |
9,983 |
| Expended |
(127) |
| As at31December2020 |
9,856 |
| timeTodonation |
|
| As atlJanuary2020 |
|
| Received |
8,000 |
| Expended |
(8,000) |
| Asat3lDecember2020 |
|
| GoogleSquared online donation |
|
| As atlJanuary2020 |
|
| Received |
1,991 |
| Expended |
(1,991) |
| Asat31December 2020 |
|
| TotalRestrictedFunds |
68,847 |
|
Age related |
Peterhouse |
Total |
|
Fund |
Beneficiary |
Funds |
|
|
Fund |
|
|
£ |
£ |
£ |
| As atlJanuary 2020 |
200,000 |
42,866 |
242,866 |
| Additional designation during the year |
3,023 |
|
3,023 |
| Expended |
|
(30,546) |
(30,546) |
| As at3IDecember 2020 |
203,023 |
12,320 |
215,343 |
|
Unrestricted |
Unrestricted |
Restricted |
Total |
|
General |
Designated |
Funds |
|
|
Funds |
Funds |
|
|
|
2020 |
2020 |
2020 |
2020 |
|
£ |
£ |
£ |
£ |
| AtlJanuary 2020 |
6,337,606 |
242,866 |
104,102 |
6,684,574 |
| Income |
1,777,180 |
3,023 |
49,991 |
1,830,194 |
| Expenditure |
(3,095,830) |
(30,546) |
(85,246) |
(3,211,622) |
| Realised/unrealised gains |
358,315 |
|
|
358,315 |
| At31December 2020 |
5,377,271 |
215,343 |
68,847 |
5,661,461 |
|
Unrestricted |
Unrestricted |
Restricted |
Total |
|
General |
Designated |
Funds |
|
|
Funds |
Funds |
|
|
|
2019 |
2019 |
2019 |
2019 |
|
£ |
£ |
£ |
£ |
| AtlJanuary 2019 |
6,623,981 |
104,634 |
146,197 |
6,874,812 |
| Income |
3,030,129 |
200,000 |
34,760 |
3,264,889 |
| Expenditure |
(3,762,166) |
(61,768) |
(76,855) |
(3,900,789) |
| Realised/unrealised gains |
445,662 |
|
|
445,662 |
| At31December 2019 |
6,337,606 |
242,866 |
104,102 |
6,684,574 |
|
Unrestricted |
Unrestricted |
Restricted |
Total |
|
General |
Designated |
Funds |
|
|
Funds |
Funds |
|
|
|
2020 |
2020 |
2020 |
2020 |
|
£ |
£ |
£ |
£ |
| At1January 2020 |
6,314,992 |
242,866 |
104,102 |
6,661,960 |
| Income |
1,765,580 |
3,023 |
49,991 |
1,818,594 |
| Expenditure |
(3,079,772) |
(30,546) |
(85,246) |
(3,195,564) |
| Realisedlunrealisedgains |
358,315 |
|
|
358,315 |
| At31December2020 |
5,359,115 |
215,343 |
68,847 |
5,643,305 |
|
Unrestricted |
Unrestricted |
Restricted |
Total |
|
General |
Designated |
Funds |
|
|
Funds |
Funds |
|
|
|
2019 |
2019 |
2019 |
2019 |
|
£ |
£ |
£ |
£ |
| At1January 2019 |
6,602,162 |
104,634 |
146,197 |
6,852,993 |
| Income |
2,669,476 |
200,000 |
34,760 |
2,904,236 |
| Expenditure |
(3,402,308) |
(61,768) |
(76,855) |
(3,540,931) |
| Realisedlunrealisedgains |
445,662 |
|
|
445,662 |
| At31December 2019 |
6,314,992 |
242,866 |
104,102 |
6,661,960 |
|
Unrestricted |
Unrestricted |
|
|
|
General |
Designated |
Restricted |
Total |
|
Funds |
Funds |
Funds |
Funds |
|
2020 |
2020 |
2020 |
2020 |
|
£ |
£ |
£ |
£ |
| GROUP |
|
|
|
|
| Fixedassets |
319,528 |
|
|
319,528 |
| Investments |
4,810,190 |
|
|
4,810,190 |
| Netcurrentassets |
247,553 |
215,343 |
68,847 |
531,743 |
|
5,377,271 |
215,343 |
68,847 |
5,661,461 |
| CHARITY |
|
|
|
|
| Fixedassets |
319,528 |
|
|
319,528 |
| Investments |
4,810,190 |
|
|
4,810,190 |
| Net currentassets |
229,397 |
215,343 |
68,847 |
513,587 |
|
5,359,115 |
215,343 |
68,847 |
5,643,305 |
|
Unrestricted |
Unrestricted |
|
|
|
General |
Designated |
Restricted |
Total |
|
Funds |
Funds |
Funds |
Funds |
|
2019 |
2019 |
2019 |
2019 |
|
£ |
£ |
£ |
£ |
| GROUP |
|
|
|
|
| Fixedassets |
346,608 |
|
|
346,608 |
| Investments |
4,676,365 |
|
|
4,676,365 |
| Netcurrentassets |
1,314,633 |
242,866 |
104,102 |
1,661,601 |
|
6,337,606 |
242,866 |
104,102 |
6,684,574 |
| CHARlTY |
|
|
|
|
| Fixedassets |
346,608 |
|
|
346,608 |
| Investments |
4,676,367 |
|
|
4,676,367 |
| Netcurrentassets |
1,292,017 |
242,866 |
104,102 |
1,638,985 |
|
6,314,992 |
242,866 |
104,102 |
6,661,960 |
| 15a |
GROUP |
2020 |
2019 |
|
CASHFLOWS |
£ |
£ |
|
Reconciliationofnetmovementinfundsto consolidatednetcashflow |
|
|
|
fromoperatingactivities |
|
|
|
Net(expenditure) |
(1,023,113) |
(190,238) |
|
Adjustments for: |
|
|
|
Depreciationontangiblefixedassets |
42,250 |
32,191 |
|
Dividendsandinterestreceivable |
(34,227) |
(32,478) |
|
Gainoninvestments |
(358,315) |
(445,662) |
|
Taxation |
11,951 |
186 |
|
Operatingcashflowbeforemovementsinworkingcapital |
(1,361,448) |
(636,001) |
|
Decrease/(increase)intradeandotherdebtors |
41,345 |
(466,048) |
|
(Decrease)/increaseintradeand othercreditors |
(29,930) |
386,462 |
|
Cashusedbyoperations |
(1,350,039) |
(715,587) |
|
|
At |
|
At |
|
|
lJanuary |
Cash |
31December |
|
|
2020 |
flow |
2020 |
| 15b |
Analysisofnetfundsand net debt |
£ |
£ |
£ |
|
reconciliation |
|
|
|
|
Cash at bank andinhand |
1,327,844 |
(I,I06,676) |
221,168 |
|
CBILS loan |
|
1,100,000 |
1,100,000 |
|
Total |
1,327,844 |
(6,676) |
1,321,168 |
|
2020 |
2019 |
|
£ |
£ |
| Land and buildings |
|
|
| within one year |
218,938 |
|
| two to fiveyears |
446,998 |
218,917 |
| Other |
|
|
| two to five years |
6,981 |
|
|
672,917 |
218,917 |
| NABSTradingLimited(companyno:03834446),lOHills |
|
|
| Place,London.WIF7SD |
2020 |
2019 |
|
£ |
£ |
| Turnover |
11,599 |
579,558 |
| Otheroperatingexpenses |
(66,900) |
(359,791
) |
| Operating(Ioss)/profit |
(55,301) |
219,767 |
| (Loss)/profit onordinaryactivitiesbeforetaxation |
(55,301) |
219,767 |
| Taxation |
(11,951
) |
(186) |
| Retained(loss)/profitfortheyear |
(67,252) |
219,581 |
| Profitandloss reserve atlJanuary |
22,503 |
21,827 |
| Gift Aiddistributionrepaid/(paid) |
62,903 |
(218,905) |
| Profitandlossreserve at31December |
18,154 |
22,503 |
| Theaggregateoftheassets,liabilitiesandfundswas: |
|
|
| Currentassets |
221,737 |
240,120 |
| Creditors:Amountsfallingduewithinone year |
(203,581
) |
(217,615) |
| Netassets |
18,156 |
22,505 |
| 19 |
T AXA TION ON PROFIT FORTHEYEAR |
2020 |
2019 |
|
|
£ |
£ |
|
Current tax-UK corporation tax |
|
186 |
|
2020 |
2019 |
|
£ |
£ |
| (Loss)/Profit on ordinary activities before tax |
(55,41I) |
219,767 |
| (Loss)/Profit on ordinary activities before tax multiplied |
|
|
| by the standard rateofcorporation tax for small |
(10,528) |
41,756 |
| companies19% (2019:19%) |
|
|
| Tax losses not recognised as a deferred tax asset |
10,528 |
|
| Taxation on repaid distribution |
11,951 |
|
| Less gift aid non taxable |
|
(41,570) |
| Current tax charge |
11,951 |
186 |
| FTNANCIAL TNSTRUMENTS |
|
|
|
|
|
Group |
Group |
Charity |
Charity |
|
2020 |
2019 |
2020 |
2019 |
|
£ |
£ |
£ |
£ |
| The carrying amountsoffinancial instruments were |
|
|
|
|
| as follows: |
|
|
|
|
| Financial assets: |
|
|
|
|
| Financial Assets held at fair value |
4,795,734 |
4,661,911 |
4,795,734 |
4,661,91I |