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|||Page|
|---|---|---|
|Reference and administrative
details of the Charity,|its Trustees and Advisers||
|Trustees'
Annual
Report||4 —10|
|Report of the Independent
Auditors||11 —13|
|Statement
of Financial Activities||14-15|
|Balance Sheets||16 —17|
|Consolidated
Statement
ofCash Flows||18|
|Notes to the Financial Statements||19-39|
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|||Unrestricted
Funds|Restricted
Funds||Total|Continuing
operations|Restricted
Funds|Discontinued
Operations *|Total|
|---|---|---|---|---|---|---|---|---|---|
|Incoming Resources||||||||||
|Incoming resources from||||||||||
|generated
funds||||||||||
|Donations
and legacies|2a|215|||215|227|||227|
|Other trading activities|2b|34,074|||34,074|46,990|||46,990|
|Investments|2c|(920)|||(920)|9,247||1,027|10,274|
|||33,369|||33,369|56,464|||57,491|
|Incoming Resources from||||||||||
|charitable
activities||||||||||
|Examinations
and Centre||||||||||
|Registrations||619,199|||619,199|1,026,292|||1,026,292|
|Sale ofTraining Materials||||||26,319|||26,319|
|Curriculum
and Other Training||||||6,813|||6,813|
|Registration
of LSP's||||||||335,282|335,282|
|Development
ofexaminations,||||||||||
|training
and materials|2d|||1,141|1,141||862|||
|||619,199||1,141|620,340|1,059,424|862|335,282|1,395,568|
|Other incoming resources|2e|103,137|||103,137|10,677|||10,677|
|Total incoming
resources||755,705||1,141|756,846|1,126,565|862|336,309|1,463,736|
|Resources Expended||||||||||
|Costs ofgeneratingfunds||||||||||
|Examinations
and Centre||||||||||
|Registrations||547,169|||547,169|618,975|||618,975|
|Sale ofTraining
Materials||80,995|||80,995|96,319|||96,319|
|Curriculum
and Other Training||49,954|||49,954|100,400|||100,400|
|Registration
of LSP's||||||0||288,496|288,496|
|Development
ofexaminations,||||||||||
|training
and materials||206,344|||206,344|209,612|862||210,474|
|Other - exceptional
item||||||||||
|Expenditure||884,462|||884,462|1,025,306|862|288,496|1,314,664|
|Loss on Disposal||201,247|||201,247|||||
|Net movement
in funds||(330,004)||1,141|(328,863)|101,259|0|47,813|149,072|
|Reconciliation
offunds||||||||||
|Total funds brought forward||1,374,383||19,130|1,393,513|969,261|19,130|256,050|1,244,441|
|Total funds carried forward||1,044,379||20,271|1,064,650|1,070,520|19,130|303,863|1,393,513|
##
|||||Unrestricted|Restricted|Total Funds|Total Funds|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|2020|2019|
||||Note|||||
|Income from:||||||||
|Donations
and legacies|||2a|215||215|227|
|Other trading activities|||2b|15,350||15,350|78,750|
|Investments|||2c|920||920|9,247|
|||||14,645||14,645|88,224|
|Charitable
activities||||||||
|Examinations
and centre registrations||||614,772||614,772|1,026,292|
|Development
ofexaminations,|training|and materials|2d||1,141|1,141|862|
|||||614,772|1,141|615,913|1,027,154|
|Other incoming resources|||2e|103,137||103,137|10,677|
|Total income||||732,554|1,141|733,695|1,126,055|
|Expenditure
on:||||||||
|Raising funds||||||||
|Charitable
activities:|||3a|||||
|Examinations
and centre registrations||||538,100||538,100|611,061|
|Sale oftraining
materials||||79,796||79,796|95,891|
|Curriculum
and other training||||49,954||49,954|100,400|
|Development
ofexaminations,|training|and materials||206,344||206,344|210,474|
|Other- exceptional
Items||||||||
|Total expenditure||||874,194||874,194|1,017,826|
|Net movement
in funds||||142,840|1,141|140,499|108,229|
|Reconciliation
offunds||||||||
|Total funds brought
forward||||1,067,995|19,130|1,085,925|977,696|
|Transfers|||20|||||
|Total funds carried forward||||925,155|20,271|945,426|1,085,925|
##
||||Note|2020|2019|
|---|---|---|---|---|---|
|Fixed assets||||||
|Tangible assets|||9|138,299|153,754|
|Intangible
assets|||10|0|0|
|Investments|||11|106,802|109,273|
|Total fixed assets||||245,101|263,027|
|Current assets||||||
|Stocks oftraining|materials||12|20,076|19,538|
|Debtors|||13|83,766|139,006|
|Cash at bank and|in|hand||1,219,301|1,727,108|
|||||1,323,143|1,885,653|
|Creditors: Amounts||falling due||||
|within one year|||15|282,026|473,970|
|Net current assets||||1,041,117|1,411,683|
|Total assets less|current liabilities|||1,286,218|1,674,710|
|Creditors: amounts||falling due||||
|in after more than one year||||221,568|281,197|
|Net assets||||1,064,650|1,393,513|
|Funds ofthe charity||||||
|Restricted
income|funds||19|20,271|19,130|
|Unrestricted
funds||||||
|General funds|||19|1,334,082|1,721,730|
|Pension
fund|||19|289,703|347,347|
|||||1,044,379|1,374,383|
|Total funds||||1,064,650|1,393,513|
##
##
##
##
||||||||Group||
|---|---|---|---|---|---|---|---|---|
|||||||Note|2020|2019|
|Net cash flows from operating|activities|||||25|(301,464)|98,505|
|Cash flows from/(used
in) investing|||activities||||||
|Interest received|||||||1,551|5,071|
|Loss on disposal ofinvestment|||||||(201,247)|(146,632)|
|Proceeds on disposal offixed assets|||||||31,516||
|Purchase oftangible fixed assets|||||||(38,163)||
|Net cash from/(used
in) investing||activities|||||(206,343)|(141,561)|
|Increase/ (decrease)
in cash and|cash||equivalents||in the year||(507,807)|(43,056)|
|Cash and cash equivalents
at the|beginning|||ofthe|year||1,727,108|1,770,164|
|Total cash and cash equivalents||at|the end ofthe year||||1,219,301|1,727,108|
|Relating to:|||||||||
|Cash at bank and in hand|||||||1,219,301|1,727,108|
|Short term investments|||||||||
|Total cash and cash equivalents||at|the end ofthe year||||1,219,301|1,727,108|
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|2|. Incoming resources|||||
|---|---|---|---|---|---|
|||||2020|2019|
|2a)|Donations
and legacies- unrestricted|||||
||Donations|||215|227|
|2b)|Other Trading activities (Group)- unrestricted|||2020|2019f|
||Conferences
and fairs|||0|0|
||Signature
Commercial|||34,074|46,990|
|||||34,074|46,990|
|||||2020|2019|
|2b)|Other Trading activities (Charity)- unrestricted|||||
||Conferences
and fairs|||0|0|
||Intercompany
recharges|||15,350|78,750|
|||||15,350|78,750|
|||||2020|2019|
|2c)|Investment
income (Charity)-|unrestricted|||f.|
||Bank interest
Money market and other deposits|||1,551
~2,471|4,044
5,203|
|||||920|9,247|
|||||2020|2019|
|2c)|Investment
income (Group)- unrestricted|||f.|E|
||Bank Interest
Money market and other deposit|||1,551
~2,471|5,071
5,203|
|||||920|10,274|
|||||2020|2019|
|2d)|Development
ofexaminations,|training|and materials||E|
||GCSE||||862|
||Other|||1,141||
||Total restricted development|income||1,141|862|
|||||2020|2019|
|2e)|Other Income - unrestricted|||||
||Furlough
income|||99,784|0|
||Other|||3,353|10,677|
||Total other income - unrestricted|||103,137|10,677|
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##
|Net incomi|ng/outg|o|ing|resource|s is aft|er charging:|||
|---|---|---|---|---|---|---|---|---|
||||||||2020|2019|
|Auditors'
remuneration|||-|Statutory|Audit||12,000|12,900|
||||||||12,000|12,900|
|Operating
lease costs-Land||||and Buildings|||39,639|51,053|
|Amortisation|||||||||
|Depreciation|||||||23,304|10,132|
|Staff costs|||||||||
|||||||Group|Charity|2019|
|||||||2020|2020||
||||||||E||
|Salaries||||||430,206|430,206|556,351|
|Employer's|National||Insurance|||31,574|31,574|45,593|
|Employer's|Pension|Contributions||||31,313|31,313|40,161|
|||||||493,094|493,094|642,105|
|Recruitment|fees|||||127|127|3,846|
|Temporary|staff|||||0|0|16,509|
|||||||493,221|493,221|20,355|
##
|as
1 (20|19:1)|||||
|---|---|---|---|---|---|
|||||December|December|
|||||2020|2019|
|Between|860,000|and|870,000|1|1|
##
##
##
##
##
##
##
||Furniture|Office|Computei|Computer|2020|
|---|---|---|---|---|---|
||&fittings|equipment|software|equipment|Total|
|Cost||||||
|At 1 January 2020|62,851|32,520|256,744|124,042|476,157|
|Additions|2,802|-|34,248|1,113|38,163|
|Disposals||968|23,857|7,292|32,116|
|At 31 December 2020|65,653|31,552|267,135|117,864|482,204|
|Depreciation||||||
|At 1 January 2020|56,252|27,899|138,600|99,652|322,403|
|Charge for the Year|1,837|1,561|13,012|8,093|24,503|
|Disposals||272|795|1,934|3,001|
|At 31 December 2020|58,089|29,188|150,817|105,811|343,905|
|Net book value||||||
|At 31 December 2020|7,564|2,364|116,318|12,053|138,299|
|At 31 December 2019|6,599|4,621|118,144|24,390|153,754|
##
||Furniture|Office|Computer|Computer|2020|
|---|---|---|---|---|---|
||8 fittings|equipment|software
f|equipment|Total|
|Cost||||||
|At 1 January 2020|62,851|31,552|226,887|116,751|438,041|
|Additions|2,802||34,248|1,113|38,163|
|Disposals||||||
|At 31 December 2020|65,653|31,552|261,135|117,864|476,204|
|Depreciation||||||
|At 1 January 2020|56,252|27,627|133,592|97,718|315,189|
|Charge for the year|1,836|1,561|11,812|8,093|23,302|
|Disposals||||||
|At 31 December 2020|58,088|29,188|145,404|105,811|338,492|
|Net book value||||||
|At 31 December 2020|7,564|2,364|115,731|12,053|137,712|
|At 31 December 2019|6,599|3,925|93,295|19,033|122,852|
##
##
||||||Research 8||
|---|---|---|---|---|---|---|
||||||Development||
|Cost|||||||
|At 1 January 2020|||||173,739||
|Additions|||||||
|At 31 December 2020|||||173,739||
|Amortlsatlon|||||||
|At 1 January 2020|||||173,739||
|Charge for the year|||||||
|At 31 December 2020|||||173,739||
|Net book value|||||||
|At 31 December 2020|||||||
|At 31 December 2019|||||||
|11.Investments|||||||
||||||2020|2019|
|Common
Investment|Funds||||106,801|109,272|
|Investment
in Signature||Commercial|Limited-charity|only|1|1|
||||||106,802|109,273|
##
|12.Stocks (Group)|12.Stocks (Group)||||2020|2019|
|---|---|---|---|---|---|---|
|Cost|||||21,506|20,968|
|Provision for obsolescence|||||1,430|1,430|
||||||20,076|19,538|
|No stock is held|by the Charity.||||||
|13.Debtors (Group)|||||||
||||||2020|2019|
|Trade debtors|||||48,933|93,588|
|Other debtors|||||||
|Prepayrnents|||||34,833|45,418|
||||||83,766|139,006|
|All debtors are|due for settlement||within|12months.|||
|14.Debtors (Charity)|||||||
||||||2020|2019|
|Trade debtors|||||47,464|60,800|
|Other debtors|||||||
|Prepayments|||||34,833|40,064|
|Inter-company|balance||||115,077|90,321|
||||||197,375|191,185|
|The inter company
balance is for a period offive years. From one year after the date of|||||||
|the agreement|interest|will be payable||on the balance at a|rate of6%per annum.||
|15.Creditors|(Group)||||||
||||||2020|2019|
|---|---|---|---|---|---|---|
|Trade Creditors|||||51,909|22,025|
|Other Tax and Social Security|||||11,207|19,407|
|Accruals|||||40,843|48,642|
|Deferred|Income||||109,933|317,746|
|Pension|Fund||||68,135|66,150|
||||||282,026|473,970|
|Deferred|Income|at 31 December 2019||||317,746|
|Amount|released|from previous year||||(317,746)|
|Amount|deferred|in current year||||109,933|
|Deferred|income|at 31 December 2020||||109,933|
|Deferred|income|relates to examination|fees invoiced|in advance|||
##
##
||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|
|Trade Creditors|||||||49,893|13,878|
|Other Tax and|Social Security||||||8,972|12,487|
|Accruals|||||||38,539|39,713|
|Deferred Income|||||||109,933|159,935|
|Pension
Fund|||||||68,135|66,150|
|Intercompany|creditor|||||||2,422|
||||||||275,472|294,584|
|17.Creditors|due in||more|than one year|(Group and charity)||||
||||||||2020|2019|
|Pension creditor|||||||221,568|281,197|
|18.Financial|instruments||||||||
|The carrying
amounts|||of the|Group's financial|instruments|at 31 December|were:||
||||||||2020|2019|
|FINANCIAL ASSETS|||||||||
|Debt instruments||measured||at amortised|||||
|cost:|||||||||
|Trade Debtors|||||||48,933|93,588|
|Other debtors|||||||||
|TOTAL|||||||48,933|93,588|
|FINANCIAL LIABILITIES|||||||||
|Measured at amortised|||cost:||||||
|Trade Creditors|||||||51,909|22,025|
|Accruals|||||||40,843|68,642|
|TOTAL|||||||92,752|70,667|
##
##
|19. Movem|ents|in funds|(Group)|||||
|---|---|---|---|---|---|---|---|
||||Balance|Incoming|Outgoing|Transfers|Balance|
|||||||and||
||||b/fwd|resources|Resources|Disposals|clfwd|
|Restricted funds:||||||||
|GCSE|||19,130||||19,130|
|Other||||1,141|||1,141|
|Total restricted funds|||19,130|1,141|||20,271|
|Unrestricted|funds:|||||||
|Pension|||(347,347)|||57,644|(289,703)|
|General funds|||1,721,730|755,705|884,462|258,891|1,334,082|
|Total unrestricted||funds|1,374,383|755,705|884,462|201,247|1,044,379|
|Total funds|||1,393,513|756,846|884,462|201,247|1,064,650|
##
|2019-Movement|in funds|(Group)|||||
|---|---|---|---|---|---|---|
|||Balance|Incoming|Outgoing|Transfers|Balance|
|||b/fwd|resources|resources||c/fwd|
|Restricted funds:|||f.||||
|GCSE||19,130||||19,130|
|Total restricted funds||19,130||||19,130|
|Unrestricted
funds:|||||||
|Pension||(388,441)|||41,094|(347.347)|
|General funds||1,613,752|1,462,874|1,313,802|41,094|1,721,730|
|Total unrestricted|funds|1,225,311|1,462,874|1,313,802||1,374,383|
|Total funds||1,244,441|1,462,874|1,313,802||1,393,513|
##
##
|20. Move|ments|in funds|(Charity)|||||
|---|---|---|---|---|---|---|---|
||||Balance|Incoming|Outgoing|Transfers|Balance|
||||blfwd|resources|resources||c/fwd|
|Restricted funds:||||||E|E|
|GCSE|||19,130||||19,130|
|Other||||1,141|||1,141|
|Total restricted funds|||19,130|1,141|||20,271|
|Unrestricted|funds".|||||||
|Pension|||(347,347)|||57,644|(289,703)|
|General funds|||1,414,142|732,554|874,194|57,644|1,214,858|
|Total unrestricted||funds|1,066,795|732,554|874,194||925,155|
|Total funds|||1,085,925|733,695|874,194||945,426|
##
|2019-Movement|s
in funds|(Charity)|||||
|---|---|---|---|---|---|---|
|||Balance|Incoming|Outgoing|Transfers|Balance|
|||b/fwd|resources|resources||c/fwd|
|Restricted funds:|||||||
|GCSE||19,130||||19,130|
|Total restricted funds||19,130||||19,130|
|Unrestricted
funds:|||||||
|Pension||(388,441)|||41,094|(347,347)|
|General funds||1,347,007|1,125,193|1,016,964|41,094|1,414,142|
|Total unrestricted|funds|958,566|1,125,193|1,016,964||1,066,795|
|Total funds||977,969|1,125,193|1,016,964||1,085,925|
##
##
##
##
##
##
|From|1|April|2016|to|30|September||||f12,945,440 per annum|f12,945,440 per annum|
|---|---|---|---|---|---|---|---|---|---|---|---|
|2025:|||||||(payable|monthly|and|increasing|by 3%each on 1st)|
|From
2028:|1|April|2016|to|30|September|(payable|monthly|and|increasing|f54,560 per annum
by 3%each on 1")|
##
##
|PRESENT VALUES|OF PROVISION|31 December
2020|31|December
2019|31 December
2018|
|---|---|---|---|---|---|
|Present value ofprovision||289,703|347,347||397,843|
|RECONCILIATION|OF OPENING AND|CLOSING PROVISIONS||||
||||||Year Ending|Year Ending|
|---|---|---|---|---|---|---|
||||||31 December|31 December|
||||||2020|2019|
|Provision|at start|ofyear|||347,347|397,843|
|Unwinding|ofthe|discount factor|(interest|expense)|3,524|6,390|
|Deficit contribution||paid|||(66,150)|(62,222)|
|Remeasurements||—impact ofany|change|in assumptions|4,982|5,336|
|Remeasurements||-amendments|to the contribution||||
|schedule|||||||
|Provision|at end ofyear||||289,703|347,347|
##
##
##
||||||Year Ending|Year Ending|
|---|---|---|---|---|---|---|
||||||31 December|31 December|
||||||2020|2019|
|Interest expense|||||3,524|6,390|
|Remeasurements|—impact ofany change||in|assumptions|4,982|5,336|
|Remeasurements|—amendments|to the contribution|||||
|schedule|||||||
|Contributions
paid|in respect offuture service*||||||
|Costs recognised|in income and|expenditure||account|||
##
|||31|December|31 December|31 December|
|---|---|---|---|---|---|
||||2020|2019|2018|
||||er annum|er annum|% er annum|
|Rate|ofdiscount||0.27|1.13|1.75|
##
##
##
|commitments
under non-cancellab|le
operating
lease|s are as fol|
|---|---|---|
||2020|2019|
||Land and|Land and|
||Buildings|Buildings|
|Within one year|51,053|51,053|
|Between two and five years|72,326|123,379|
|More than five years|0|0|
||123,379|174,432|
##
##
||||Group|Group|
|---|---|---|---|---|
||||2020|2019f|
|Net movement
in funds|||(127,616)|149,072|
|Income from investments|||920|(10,274)|
|Depreciation|||22,102|10,132|
|Decrease|in stocks||(538)|844|
|Decrease|in debtors||55,240|(16,108)|
|Decrease|in creditors||(193,928)|5,197|
|Decrease|in provision||(57,644)|(40,358)|
|Net cash|inflow from operating|activities|(301,464)|98,505|
##
|26.Analysis ofnet assets between fun|ds —Group|||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||E|||
|Fund balances at 31 December 2020 as||||
|represented
by:||||
|Tangible
fixed assets|138,299||138,299|
|Intangible
fixed assets||||
|Investment
assets|106,802||106,802|
|Current assets|1,309,802|20,271|1,330,073|
|Current
liabilities|(288,956)||(288,956)|
|Long term liabilities|(221,568)||(221,558)|
||1,044,379|20,271|1,064,650|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
|Fund balances at 31 December 2019as||||
|represented
by:||||
|Tangible
fixed assets|153,754||153,754|
|Intangible
fixed assets||||
|Investment
assets|109,273||109,273|
|Current assets|1,866,523|19,130|1,885,653|
|Current
liabilities|(473,970)||(473,970)|
|Long term liabilities|(281,197)||(281,197)|
||1,374,383|19,130|1,393,513|
##
##
||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds|funds|
|Fund balances at 31 December 2020 as||||
|represented
by:||||
|Tangible fixed assets|137,712||137,712|
|Intangible
fixed assets|0||0|
|Investment
assets|106,801||106,801|
|Current assets|1,184,611|20,271|1,204,882|
|Current
liabilities|(282,402)||(282,402)|
|Long term liabilities|(221,568)||(221,568)|
||925,155|20,271|945,426|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
|Fund balances at 31 December 2019as||||
|represented
by:||||
|Tangible
fixed assets|122,852||122,852|
|Intangible
fixed assets|0||0|
|Investment
assets|109,272||109,272|
|Current assets|1,410,452|19,130|1,429,582|
|Current
liabilities|(294,584)||(294,584)|
|Long term liabilities|(281,197)||(281,197)|
||1,066,795|19,130|1,085,925|
##