##
##
##
|||Page|
|---|---|---|
|Reference and administrative
details ofthe Charity,|its Trustees and Advisers||
|Trustees'
Annual
Report||4 —10|
|Independent
Examiners'
Report||11 —12|
|Statement
of Financial Activities||13|
|Balance Sheet||14|
|Notes to the Financial Statements||15-31|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
#
##
|||||||Unrestricted|Restricted|Total Funds|Total Funds|
|---|---|---|---|---|---|---|---|---|---|
|||||||Funds|Funds|2022|2021|
||||||Note|E||F|E|
|Income from:||||||||||
|Donations
and legacies|||||2a|10||10|121,963|
|Other trading
activities|||||2b|97,817||97,817|33,093|
|Investments|||||2c|2,588||2,588|4,068|
|||||||100,415||100,415|159,124|
|Charitable
activities||||||||||
|Examinations
and centre registrations||||||852,147||852,147|701,818|
|Development
ofexaminations,||training||and materials|2d|||||
|||||||852,147||852,147|701,818|
|Other incoming
resources|||||2e|5,880||5,880|25,928|
|Total income||||||958,442||958,442|886,870|
|Expenditure
on:||||||||||
|Raising funds||||||||||
|Charitable
activities:|||||3a|||||
|Examinations
and centre registrations||||||492,517||492,517|415,092|
|Sale oftraining
materials||||||88,735||88,735|88,193|
|Curriculum
and other training||||||38,718||38,718|40,657|
|Development
ofexaminations,||training||and materials||170,468|1,939|172,407|213,825|
|Total expenditure||||||790,438|1,939|792,377|757,767|
|Losses on investment
assets||||||(7,773)||(7,773)||
|Actuarial
remeasurement|on|defined|benefit|||||||
|obligations||||||1,688||1,688|141,152|
|Net movement
in funds||||||161,919|1,939|159,980|270,255|
|Reconciliation
offunds||||||||||
|Total funds brought
forward||||||1,196,245|19,436|1,215,681|945,426|
|Total funds carried forward||||||1,358,164|17,497|1,375,661|1,215,681|
|All operations
derive from|continuing||activities.|||||||
##
##
##
||||Note||2022||2021||
|---|---|---|---|---|---|---|---|---|
|Cash flows from operating||activities|||||||
|Cash generated|from operations|||22||180,788||88,867|
|Investing
activities|||||||||
|Purchase oftangible
fixed assets|||||(45,978)||(41,249)||
|Investments|||||||(3,760)||
|Net cash used|in investing|activities|||||||
|||||||(45,978)||(230,524)|
|Financing
activities|||||||||
|Debt
repayments|||||||||
|Net cash used|in financing|activities|||||||
|Net increase
in|cash and cash||||||||
|equivalents||||||134,810||43,489|
|Cash and cash
beginning
ofthe|equivalents
year|at the||||1,044,066||1,000,577|
|Cash and cash|equivalents|at end of|||||||
|year||||||1,178,876||1,044,066|
##
##
##
##
##
##
##
#
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|2|. Incoming||resou|rces|||||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
|2a)|Donations|and legacies- unrestricted|||||||
||Donations||||||10|121,963|
||||||||10|121,963|
||||||||2022|2021|
|2b)|Other Trading activities - unrestricted||||||||
||Conferences||and awards||||18,535||
||Qualification|support||products|||79,282|33,093|
||||||||97,817|33,093|
||||||||2022|2021|
|2c)|Investment|income||- unrestricted|||F||
||Bank interest||||||2,588|108|
||Money market||and other deposits|||||3,960|
||||||||2,588|4,068|
||||||||2022|2021|
|2d)|Development||ofexaminations,||training|and materials|E|F|
||Other||||||||
|2e)|Other Income - unrestricted||||||2022f|2021|
||Furlough
income|||||||25,928|
||Government|grants|||||5,880||
||Other||||||||
||||||||5,880|25,928|
##
##
##
|3.|Costs o|fgenerating
funds|||||||
|---|---|---|---|---|---|---|---|---|
||||Examinations||Curriculum||||
|3a)|Charitable|activities —unrestricted|and centre|Training|and other|Development|||
||||registrations|INaterials|training|ofexams etc|2022|2021|
||||||||F||
||Direct costs||175,340|17,028|880|4,107|197,355|106,349|
||Staff costs||78,289|19,250|10,158|44,660|152,357|151,397|
||Direct overheads||||||||
||Allocated overheads||213,342|52,457|27,680|121,701|415,180|473,664|
||Governance|costs (note 3c)|25,546||||25,546|25,522|
||||492,517|88,735|38,718|170,468|790,438|756,932|
||Charitable|activities —restricted|||||||
||Direct costs|||||1,939|1,939|835|
||Allocated overheads||||||||
|||||||1,939|1,939|835|
||Total||492,517|88,735|38,718|172,407|792,377|757,767|
##
|3b)|Governance|costs—|costs—|||2022|2021|
|---|---|---|---|---|---|---|---|
||unrestricted||||||F|
||Direct committee costs including||||travel|13,111|8,373|
||Independent
examination|||||4,875|9,600|
||Other costs|||||7,560|7,552|
|||||||25,546|25,525|
||Analysis
of|allocated overheads||||2022f|2021
f.|
||Staff costs including||training|and|welfare|207,469|241,691|
||Office running|||||26,479|31,990|
||Premises|||||56,992|80,486|
||Professional|fees||||74,449|79,239|
||Depreciation|||||35,642|28,955|
||Travel and subsistence|||||3,496|2,601|
||Insurance|||||6,787|6,575|
||Other costs|||||3,866|3,821|
|||||||415,180|475,358|
##
##
|4.|Net incom|i|ng/outg|oing|resources
is after c|harging:||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
||Independent||Examination|||||
||Report|||||4,875|4,200|
||Operating|lease costs-Land|||and Buildings|23,000|23,000|
||Depreciation|||||35,642|28,955|
|5.|Staff costs|||||||
|||||||2022|2021|
||Salaries|||||296,732|401,526|
||Employer's||National|Insurance||23,635|24,769|
||Employer's||Pension|Contributions||37,691|24,038|
||Redundancy||costs||||9,532|
|||||||358,058|459,865|
||Recruitment||fees|||496|54|
||Temporary||staff|||804||
|||||||359,358|459,919|
|December|December|
|---|---|
|2022|2021|
##
##
##
##
##
##
##
|9.Tangible fixed ass|ets|||||
|---|---|---|---|---|---|
||Furniture|Office|Computer|Computer|2022 Total|
||&fittings|equipment|software|equipment||
||E|P|E|E||
|Cost||||||
|At 1 January 2022|58,682|31,282|292,544|119,113|501,621|
|Additions|2,202|159|37,784|5,833|45,978|
|Disposals||||||
|At 31 December 2022|60,884|31,441|330,328|124,946|547,599|
|Depreciation||||||
|At 1 January 2022|45,361|30,136|163,034|113,083|351,614|
|Charge for the year|3,917|910|24,475|6,340|35,642|
|Disposals||||||
|At 31 December 2022|49,278|31,046|187,509|119,423|387,256|
|Net book value||||||
|At 31 December 2022|11,606|395|142,819|5,523|160,343|
|At 31 December 2021|13,321|1,146|129,510|6,030|150,007|
##
##
##
##
##
||||||2022|2021|
|---|---|---|---|---|---|---|
|||||||K|
|Common|Investment|Funds|||102,988|110,761|
||||||102,988|110,761|
|The Common
Investment|||Fund is invested|in a Wealth Account|with St.James Place.||
|Carrying|value at the|beginning
ofthe year|||110,761||
|Gain on
Loss on|investment
revaluation||||~7,773||
|Carrying|value at the|end|ofthe year||102,988||
|All investment
assets||are|held
in the UK.||||
##
|.Stocks|||||
|---|---|---|---|---|
||||2022|2021|
||||E||
|Cost|||20,076|20,076|
|Provision|for|obsolescence|||
||||20,076|20,076|
##
|Debtors|||
|---|---|---|
||2022|2021|
|Trade debtors|70,305|67,102|
|Prepayments|24,044|20,564|
||94,349|87,666|
##
|||2022|2021|
|---|---|---|---|
||||K|
|Trade Creditors||50,698|22,597|
|Other Tax and Social Security||9,313|9,153|
|Accruals||15,749|27,698|
|Deferred|Income|59,523|56,341|
|Pension|Fund|23,009|34,415|
|||158,292|150,204|
##
|Deferred|Income|||
|---|---|---|---|
|Deferred|Income|at 31 December 2021|56,341|
|Amount|released|from previous year|(56,341)|
|Amount|deferred|in current year|59,523|
|Deferred|income|at 31 December 2022|59,523|
##
|2022f|2021|
|---|---|
|22,680|46,691|
##
##
||||Balance|Incoming||Outgoing|Gains and|Gains and|Transfers|Balan|
|---|---|---|---|---|---|---|---|---|---|---|
||||b/fwd|resources||resources|Losses|||c/f|
|Restricted funds:|||F||||||F||
|GCSE|||19,130|||(1,633)||||17,4|
|Other|||306|||306|||||
|Total restricted funds|||19,436|||1,939||||17,4|
|Unrestricted
funds:|||||||||||
|Pension|||(81,106)|||||1,688|33,729|(45,6(|
|General funds|||1,277,351|958,442||790,438||7,773|33,729|1,403,8|
|Total unrestricted|funds||1,196,245|958,442||790,438||6,085||1,358,1|
|Total funds|||1,215,681|958,442||792,3?7||(6,085||1,375,6|
|The transfer
in the|year relates||to the deficit|payments|made|on the pension||provision.|||
|2021 - Movements||in funds|||||||||
||||Balance|Incoming||Outgoing|Transfers||Balance||
||||b/fwd|resources||resources|||c/fwd||
|Restricted funds:||||||F|||||
|GCSE|||19,130||||||19,130||
||||1,141|||835|||306||
|Total restricted funds|||20,271|||835|||19,436||
|Unrestricted
funds:|||||||||||
|Pension|||(289,703)|||67,445||141,152|(81,106)||
|General funds|||1,214,858|765,998||703,505||—|1,277,351||
|Total unrestricted|funds||925,155|765,998||636,060||141,152|1,196,245||
|Total funds|||945,426|765,998||636,895||141,152|1,215,681||
##
##
##
##
##
##
##
##
|PRESENT VALUES|QF PROVISION|31 December
2022|31 December
2021|31 December
2020|
|---|---|---|---|---|
|Present value of provision||45,689|81,106|289,703|
|RECONCILIATION|OF OPENING AND|CLOSING PROVISIONS|||
||||||Year Ending|Year Ending|
|---|---|---|---|---|---|---|
||||||31 December|31 December|
||||||2022|2021|
|Provision|at start|ofyear|||81,106|289,703|
|Unwinding|ofthe|discount factor|(interest|expense)|686|690|
|Deficit contribution||paid|||(34,415)|(68,135)|
|Remeasurements||- impact of any|change|in assumptions|(1,688)|(956)|
|Remeasurements||- amendments|to the contribution||||
|schedule||||||(140,196)|
|Provision|at end ofyear||||45,689|81,106|
##
##
##
||||Year Ending|Year Ending|
|---|---|---|---|---|
||||31 December|31 December|
||||2022|2021|
|Interest expense|||686|690|
|Remeasurements|—impact of any change
in|assumptions|(1,688)|(956)|
|Remeasurements
schedule|—amendments
to the contribution|||(140,196)|
|Contributions
paid|in respect offuture service"||||
|Costs recognised|in income and expenditure|account|||
|||31|December|31 December|31 December|
|---|---|---|---|---|---|
||||2022|2021|2020|
||||er annum|er annum|er annum|
|Rate|ofdiscount||4.96|1.18|0.27|
##
##
##
|commitments
under non-cancellab|le
operating
lease|s are as foll|
|---|---|---|
||2022|2021|
||Land and|Land and|
||Buildings|Buildings|
|Within one year|23,000|23,000|
|Between two and five years|69,000|92,000|
|More than five years|||
||92,000|115,000|
##
||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds|funds|
|Fund balances at 31 December 2022 as||||
|represented
by:||||
|Tangible
fixed assets|160,343||160,343|
|Intangible
fixed assets||||
|Investment
assets|102,988||102,988|
|Current assets|1,275,804|17,497|1,293,301|
|Current
liabilities|(158,292)||(158,292)|
|Long term liabilities|(22,680)||(22,680)|
||1,358,164|17,497|1,375,661|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
|Fund balances at 31 December 2021 as||||
|represented
by:||||
|Tangible
fixed assets|150,007||150,007|
|Intangible
fixed assets||||
|investment
assets|110,761||110,761|
|Current assets|1,132,372|19,436|1,151,808|
|Current
liabilities|(150,204)||(150,204)|
|Long term liabilities|(46,691)||(46,691)|
||1,196,245|19,436|1,215,681|
##
##
|||||2022|2021|
|---|---|---|---|---|---|
|Surplus
for the year||||159,980|270,255|
|Adjustments
for:||||||
|Depreciation
oftangible||fixed assets||35,642|28,955|
|Loss on investments||||7,773||
|INovernents
in working||capital||||
|(Increase)/decrease|in|debtors||(6,683)|109,709|
|(Decrease)/increase|in|creditors||19,493|(91,549)|
|Decrease/(increase)|in|stocks|||(20,706)|
|Increase/(Decrease)|in|pension|reserve|(35,417)|(208,597)|
|Cash generated
from||operations||180,788|88,69?|