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||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|
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|||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|
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||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|