**Registered number: 03571924 Charity number: 1070864**
**THE DILL FAULKES EDUCATIONAL TRUST LIMITED (A Company Limited by Guarantee)**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
## **THE DILL FAULKES EDUCATIONAL TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 4|
|**Independent Examiner's Report**|5|
|**Statement of Financial Activities**|6|
|**Balance Sheet**|7|
|**Notes to the Financial Statements**|8 - 15|
## **THE DILL FAULKES EDUCATIONAL TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021**
|**Trustees**|Dr M C Faulkes|
|---|---|
||Dr E J Futcher|
||Ms A R Heward|
||Mr G A Innes|
|**Company registered**
**number**
03571924
**Charity registered**
**number**
1070864
**Registered office**
1st Floor Sackville House
143-149 Fenchurch Street
London
EC3M 6BN
**Company secretary**
MCS Formations Limited||
Page 1
## **THE DILL FAULKES EDUCATIONAL TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021**
The Trustees (who are also directors of the charity for the purpose of the Companies Act) present their Annual Report together with the financial statements of The Dill Faulkes Educational Trust Limited (the company) for the year 1 April 2020 to 31 March 2021. The Trustees confirm that the Annual Report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015).
The Trustees' Report also represents the Directors' Report under company law.
Since the company qualifies as small under section 383, the Strategic Report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
## **Objectives and activities**
## **a. POLICIES AND OBJECTIVES**
The Trust promotes projects that will enhance the public understanding of a broad range of specific issues and disciplines by school and university students and others. Dr M C Faulkes endowed the Trust in 1998 by transfer of listed UK securities which have been sold to provide funds for various projects considered and approved by the Trust.
## **b. ACTIVITIES FOR ACHIEVING OBJECTIVES**
Activities include the promotion of the study of mathematics, astronomy and geometry by grants to Universities and the endowment of PhD students. Education outreach is provided through the wholly owned subsidiary Faulkes Telescope Project Ltd.
## **c. PUBLIC BENEFIT**
The Trustees confirm that they have, in the administration of the charity, paid due regard to the public benefit guidance published by the Charity Commission under section 4 of the Charities Act 2011.
## **Achievements and performance**
## **a. REVIEW OF ACTIVITIES**
The Trust has no specific reserve policy. The state of affairs of the Trust is dealt with in the attached Statement of Activities which show net expenditure before investment gains of £8,572 for the year and net assets at the year end of £1,088,059 which includes cash balances of £98,344. The Board's primary concern in managing the assets of the Trust is to ensure that the Trust's assets are not subject to any negative financial risks. Cash balances are held in high interest bearing accounts with major banks pending the consideration of further grants and donations.
The Dill Faulkes Educational Trust is a beneficiary of the Europlanet 2024 Research Infrastructure (RI), a 10 million Euro project that runs for four years from 1 February 2020 and that is funded by the European Union under its Horizon 2020 programme. Europlanet 2024 RI provides free access to the world's largest collection of planetary simulation and analysis facilities, data services and tools, a ground-based observational network and programme of community support activities. The Europlanet 2024 RI consortium is led by the University of Kent, UK, and has 57 beneficiary institutions from 25 countries in Europe and around the world, with a further 44 affiliated partners. DFET hosts and manages the Europlanet Media Centre and the Education sub-task for Europlanet 2024 RI under the Networking Activity Work Package: "Community Support, Dissemination and Engagement with Stakeholders".
Page 2
**THE DILL FAULKES EDUCATIONAL TRUST LIMITED (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **Structure, governance and management**
## **a. CONSTITUTION**
The company is registered as a charitable company limited by guarantee, incorporated on 28th May 1998. The Trust was formed under a Memorandum of Association which established the objectives and powers of the charitable company and is governed under Articles of Association. In the event of the Trust being wound up members are required to contribute an amount not exceeding £10.
## **b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES**
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
The Trustees are appointed by resolution of the Members as set out in the Trust's Articles and are elected to serve and promote the Trust's objectives.
The Trustees throughout the year were:
Dr M C Faulkes Dr E J Futcher Mr D R Gray (deceased 2 April 2020) Ms A R Heward Mr G A Innes
## **c. ORGANISATIONAL STRUCTURE AND DECISION MAKING**
Dr M C Faulkes presents the Trustees with his recommendations for projects to be considered and the Trustees meet when necessary to agree and/or amend the proposals. Furthermore, the Trustees meet annually to consider the annual statements and to authorise the appropriate filing with the Register of Companies and the Charity Commission. The Trustees usually speak by telephone conference following briefing notes by Dr M C Faulkes.
## **d. RISK MANAGEMENT**
The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Page 3
THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2021
TRUSTEES. RESPONSIBILITIES STATEMENT
The Trustees (who are also the directors of the Dill Faulkes Educaliorial Trust Limited for the purposes of
company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and Unrted lQrrfJdom Accounting Standards (Unrted Kingdom Generalty Accepted Accounting
Praclicel.
Company law requires the Trustees to prepare financial statements for each financial year. Under company law.
the Tiustees must not approve the financial statements unless they are sa115fied that they give a true and fair
Mew of the slate of affairs of the charitsble company and of rts incomin9 resources and application of resources
including the inCce and expenditure. of teh charitable company for that peiiod. In preparing these financial
slalemenls. the Trustees are required lo-.
selecl Suitable accounting poliCS and then apply them consistently..
observe the methods and principles of the Charrties SORP,.
make judgments and accotjnting estimates that are reasonable and prudent..
stale whether applicable UK Aceounling Standard5 have been folbwed, subj.ect to any materi81 departures
(Ji5closed and explained in the financtal stalemenls." and
prepare the financial slalements on the going conrn basis unless it is inappropriate lo presume that the
charity will continue in business.
The Trustees are responsible for keeping adequate coUntIng records that are sufficient to show and exploin
the charity's transactK>nS and disclose wrth reasonable acCuY at any time the financFI posrtion of the charity
and enable them to ensure that the financk41 statements comply wrth the Companies Act 2006. They are also
responsible for safeguarding the assets of the charty and hence for tsking reasonable steps for the prevention
and deteclron of fraud and other iegulane$.
This pOrt was approved by the Trustees on
Zi.1.. ...1..........................
and signed on their behalf by..
M. C. Faulkes
Tiuslee
Page 4
ThE IXL FAULKES EOUCATK)NAL TRUST LwfED
IA Compw Lknmtsd ty Guar4ntwl
OEPEMDEMY EXAMIlIE$ REPORT
FQR THE YEAR ÉIIOED 31 IAARCH 2021
INDEPENOEKf EXAIIWEn REPQRT TO THE TRUSTEES OF THE ML FAULKES
EDUCATW)NAL TrU3T UWTEO fth• elmri
I ¢EPOrt lo cw Tnst•es Ivkno ae al Olrocttys lof trb• deen uThJertak•n go thai state lo Ihe chanty's Injsiees IlvJse m•ttern l •m r¢quired to
sl• to thwn •) thrJ no pwrAlS•. To lh• Ist extent pewmitted by I. l 6) not accem or
assume lo Olhcr Ihan th• the tru51ees •5 & Iy. fof my for thi•
rwft, or for the oplrdon> I ho¥È Iijimed.
REgPOMSIWUnÉS AND BASIS OF Repofty
Trustees of Ihe chartl¥bl• ¢oftyany >Y*u we p91t& for the olty* Fin¥1 SLgthments
ac¢gFdance *ilh th• vltr* 2006A
s•bsf*d MY11 that t finwl ch*b* ¥• not required lo be
urNIEr Part 16 of Act And are elgthlo hr IrKlepertrJ#nt exarnknaltt, I feport in r¢spttt ol my e¥arrxn•tlon ol
th? ¢haritys fin1•1 ¥taternerts taW ¢xrt wKkr 145 of Ihe Chuilues 2011 2011 Aci) and
145(5Xb) 01tr• 201 I ACL
INDEPENDÈNT EXAMINER'8 8TATEIIEiir
ex•min*ion me cause k¥ bel"•¥e
an cAaMl or
a¢coun¢s in •ccord¥*e th• Ftti¥K¥al RepthfVJ S&Ythrd applth n th• UK RewA* ol
IrthKI IFRS 102).
atl•nb"on Sho be Ills reF in Ixder lo enatl• a proper undErsding of ih• acv)thits ¢0 be r•a¢hed.
Dated.. 24 JInU 2trr
Robert BrdthrAn BA CA
'NIr Coe Ltd
1st Fkor Hryne
14&149 Fenthurth Sirttt
LcThJ
EC3M 6BL
## **THE DILL FAULKES EDUCATIONAL TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021**
|**Note**
**INCOME FROM:**
Donations, legacies and grants
3
Other trading activities
**TOTAL INCOME**
**EXPENDITURE ON:**
Charitable activites
4
Other expenditure
**TOTAL EXPENDITURE**
**NET (EXPENDITURE)/INCOME**
**BEFORE INVESTMENT GAINS**
Net gains on investments
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
Net movement in funds
**TOTAL FUNDS CARRIED**
**FORWARDS**|**Unrestricted**
**funds**
**2021**
**£**
**-**
**50,845**
**50,845**
**23,000**
**7,100**
**30,100**
**20,745**
**82,009**
**102,754**
**937,127**
**102,754**
**1,039,881**|**Restricted**
**funds**
**2021**
**£**
**13,192**
**-**
**13,192**
**42,509**
**-**
**42,509**
**(29,317)**
**-**
**(29,317)**
**77,495**
**(29,317)**
**48,178**|**Total**
**funds**
**2021**
**£**
**13,192**
**50,845**
**64,037**
**65,509**
**7,100**
**72,609**
**(8,572)**
**82,009**
**73,437**
**1,014,622**
**73,437**
**1,088,059**|_Total_
_funds_
_2020_
_£_
_104,045_
_-_|
|---|---|---|---|---|
|||||_104,045_|
|||||_-_
_8,767_|
|||||_8,767_|
|||||_95,278_
_5,453_|
|||||_100,731_|
|||||_913,891_
_100,731_|
|||||_1,014,622_|
All activities relate to continuing operations.
The notes on pages 8 to 15 form part of these financial statements.
The Statement of Financial Activities includes all gains and losses recognised in the year.
Page 6
THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guarantee
REGISTERED NUMBER: 03571924
BALANCE SHEET
AS AT 31 MARCH 2021
2021
2020
Note
FIXED ASSETS
Investments
890
890
CURRENT ASSETS
Debtors
Investments
Cash al bank and in hand
19,540
975,414
29.030
893.405
94,946
1.093.298
1,017,381
CREDITORS: amounts falbng due wthin
one year
10
(6.1291
(2, 760)
NET CURRENT ASSETS
1.087.169
1,014.621
NET ASSETS
1.088,059
1,014,622
CHARITY FUNDS
Restricted funds
Unrestricted funds
11
11
51.476
1,036,583
7T,495
93T,127
TOTAL FUNDS
1.088.059
1,014,622
The Trustees consNJer that the company is enIrtd lo exemption from the requirement lo have an audit under the
provisions of section 477 of the Companies Acl 20(E ('Ihe Aet") and members have not required the conpany lo
obtsin an audit for the year in question in accordance with s&1ion 476 of the Act.
The T[Stee5 acknovAedge their responsibilities for Ccnp.ng wrth the requirements of the Companies Act 2006
with respect lo accounting records and preparation of financial statements.
The financial statements have been prepared and delivered in accordance with the prowsions applicable to
enlilies subject lo the small companies. regime.
The financial slalemenls were approved and authorised for issue by the Trustees on ...
OL
102Z
M. C. Faulkes
Trustee
The mles on pages 8 to 15 fomi part of these financial ststements.
Page 7
**THE DILL FAULKES EDUCATIONAL TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1. GENERAL INFORMATION**
The Dill Faulkes Educational Trust Limited (company number: 03571924), having its registered office at 1st Floor, Sackville House, 143-149 Fenchurch Street, London, EC3M 6BN, is a private limited company incorporated in England and Wales.
## **2. ACCOUNTING POLICIES**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with 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 2015) and the Companies Act 2006.
The Dill Faulkes Educational Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Company status**
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.
## **2.3 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Page 8
**THE DILL FAULKES EDUCATIONAL TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **2. ACCOUNTING POLICIES (continued)**
## **2.4 Expenditure (continued)**
Charitable activities and Governance costs are costs incurred on the acadamy trust's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
## **2.5 Statement of Cash Flows**
The company has taken advantage of the exemption in Financial Reporting Standard 102, paragraph 7.1B, from the requirement to produce a Statement of Cash Flows on the grounds that it is a small charitable company.
## **2.6 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of Financial Activities incorporating Income and Expenditure Account.
All investments are held primarily to provide an investment return for the charity.
## **2.7 Current asset investments**
Current asset investments are recognised at fair value. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.
## **2.8 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
## **2.9 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.10 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 9
**THE DILL FAULKES EDUCATIONAL TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **2. ACCOUNTING POLICIES (continued)**
## **2.11 Creditors and provisions**
Creditors and provisions are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
## **2.12 Foreign currencies**
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the Balance Sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of Financial Activities incorporating Income and Expenditure Account.
## **2.13 Taxation**
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **2.14 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **2.15 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. Restriction arises when specified by the donor or when funds are raised for particular restricted purposes.
Page 10
## **THE DILL FAULKES EDUCATIONAL TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **3. INCOME FROM DONATIONS, LEGACIES AND GRANTS**
|Donations & Gift Aid
Grants|**Unrestricted**
**funds**
**2021**
**£**
-
-
-|**Restricted**
**funds**
**2021**
**£**
-
13,192
13,192|**Total**
**funds**
**2021**
**£**
**-**
**13,192**
**13,192**|_Total_
_funds_
_2020_
_£_
_104,045_
_-_|
|---|---|---|---|---|
|||||_104,045_|
## **4. EXPENDITURE ON CHARITABLE ACTIVITIES**
|Grants - Europlanet
Grants - EXPLORE
Grants - Faulkes Telescope Project
_Total 2020_|**Unrestricted**
**funds**
**2021**
**£**
-
-
23,000
23,000
_-_|**Restricted**
**funds**
**2021**
**£**
41,571
938
-
42,509
_-_|**Total**
**funds**
**2021**
**£**
**41,571**
**938**
**23,000**|
|---|---|---|---|
||||**65,509**|
|||||
||||_-_|
Page 11
**THE DILL FAULKES EDUCATIONAL TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **5. OTHER EXPENDITURE**
|Professional fees
Travel
Subscriptions
Bank charges
Advertising and promotion
Bad debt expense
Printing and postage
Foreign exchange difference
Sundry expenses
_Total 2020_|**Unrestricted**
**funds**
**2021**
**£**
**6,414**
**-**
**-**
**278**
-
-
**208**
**96**
**104**
**7,100**
_8,767_|**Total**
**funds**
**2021**
**£**
**6,414**
**-**
**-**
**278**
**-**
**-**
**208**
**96**
**104**
**7,100**
_8,767_|_Total_
_funds_
_£_
_£_
_2,773_
_1,689_
_170_
_10_
_525_
_3,600_
_-_
_-_
_-_|
|---|---|---|---|
||||_8,767_|
|||||
## **6. NET (OUTGOING)/INCOMING RESOURCES**
During the year, 1 Trustee, Ms A R Heward, received remuneration or other benefits totalling £11,000 _(2020 - £NIL)_ . Remuneration was paid in respect of management services provided for Europlanet Media Centre.
During the year ended 31 March 2021, expenses totalling _£_ 870 were reimbursed or paid directly to 1 Trustee _(2020 - £Nil_ ). Expenses reimbursed related to subscription payments and printing costs.
Page 12
## **THE DILL FAULKES EDUCATIONAL TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **7. FIXED ASSET INVESTMENTS**
|**Cost**
At 1 April 2020
Additions
At 31 March 2021
**Net book value**
At 31 March 2021
_At 31 March 2020_|**Investments**
**in subsidiary**
**companies**
**£**
**1**
**889**|
|---|---|
||**890**|
||**890**|
||_1_|
## **Subsidiary undertakings**
The following were subsidiary undertakings of the company:
|**Names**|**Registered office or principal**|**Class of**|**Holding**|
|---|---|---|---|
||**place of business**|**shares**||
|Faulkes Telescope Project Ltd|1st Floor, Sackville House, 143-|Ordinary|100%|
||149 Fenchurch Street, London,|||
||EC3M 6BN|||
|FTP-Europlanet gUG|Klingenweg 14, 69469 Weinheim,|Ordinary|33%|
||Germany|||
The financial results of the subsidiaries for the year were:
|**Names**|**Aggregate of**|**Profit/(Loss)**|
|---|---|---|
||**share capital**|**£**|
||**and reserves**||
||**£**||
|Faulkes Telescope Project Ltd|**(1,259)**|**(2,474)**|
Page 13
## **THE DILL FAULKES EDUCATIONAL TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **8. DEBTORS**
|**Due within one year**
Other debtors
Prepayments and accrued income
**CURRENT ASSET INVESTMENTS**
Listed investments|**2021**
**£**
**18,569**
**971**
**19,540**
**2021**
**£**
**975,414**|_2020_
_£_
_28,180_
_850_|
|---|---|---|
||||
|||_29,030_|
|||_2020_
_£_
_893,405_|
## **9. CURRENT ASSET INVESTMENTS**
## **Listed investments**
The market value of the listed investments at 31 March 2021 was £975,414 ( _2020: £893,405_ ).
## **10. CREDITORS: Amounts falling due within one year**
|Other creditors
Accruals and deferred income|**2021**
**£**
**3,609**
**2,520**
**6,129**|_2020_
_£_
_-_
_2,760_|
|---|---|---|
||||
|||_2,760_|
Page 14
## **THE DILL FAULKES EDUCATIONAL TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **11. SUMMARY OF FUNDS - CURRENT YEAR**
|General funds - unrestricted
Restricted funds
**Total**|**Balance at 1**
**April 2020**
**£**
**937,127**
**77,495**
**1,014,622**|**Income**
**£**
**47,547**
**16,490**
**64,037**|**Expenditure**
**£**
**(30,100)**
**(42,509)**
**(72,609)**|**Gains/**
**(Losses)**
**£**
**Balance at 31**
**March 2021**
**£**
**82,009**
**1,036,583**
**-**
**51,476**
**82,009**
**1,088,059**|
|---|---|---|---|---|
## **12. RELATED PARTY TRANSACTIONS**
Included within other debtors are amounts due from a subsidiary of the company of £18,569 _(2020: £28,180)._
During the year, the company paid grants of £23,000 to the subsidiary ( _2020: £Nil_ ).
## **13. ULTIMATE CONTROLLING PARTY**
As of 31 March 2021 and 31 March 2020 there was no ultimate controlling party of the charity.
Page 15