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|||Page|
|---|---|---|
|Reference and Administrative
Details ofthe Company,|its Trustees and Advisers||
|Trustees'
Report||2-8|
|Independent
Examiner's
Report||9-10|
|Statement of Financial Activities|||
|Balance Sheet||12-13|
|Statement ofCash Flows|||
|Notes to the Financial Statements||15-32|
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||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2020|2020|2020|2019|
|||Note|E||||
|INCOME FROM:|||||||
|Donations
and legacies||||133,456|133,456|18,641|
|Charitable
activities|||6,000|627,624|633,624|810,978|
|Other trading
activities|||18,650|66,681|85,331|129,058|
|Investments||||324|324|361|
|TOTAL INCOME|||24,650|828,085|852,735|959,038|
|EXPENDITURE ON:|||||||
|Raising funds||||81,481|81,481|87,019|
|Charitable
activities|||20,607|846,069|866,676|871,552|
|TOTAL EXPENDITURE|||20,607|927,550|948,157|958,571|
|NET MOVEMENT|IN FUNDS||4,043|(99,465)|(95,422)|467|
|RECONCILIATION|OF FUNDS:||||||
|Total funds brought|forward||354,111|420,803|774,914|774,447|
|Net movement
in funds|||4,043|(99,465)|(95,422)|467|
|TOTAL FUNDS CARRIED FORWARD|||358,154|321,338|679,492|774,914|
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|||||2020||2019|
|---|---|---|---|---|---|---|
|||Note||F||E|
|FIXEDASSETS|||||||
|Tangible assets||13||1,565,950||1,593,011|
|||||1,565,950||1,593,011|
|CURRENT ASSETS|||||||
|Debtors||14|21,407||3,603||
|Cash at bank and|in hand||196,051||415,857||
||||217,458||419,460||
|Creditors: amounts|falling due within one||||||
|year||15|(373,293)||(292,420)||
|NET CURRENT LIABILITIES IASSETS||||(155,835)||127,040|
|TOTAL ASSETS LESSCURRENT|||||||
|LIABILITIES||||1,410,115||1,720,051|
|Creditors: amounts|falling due after more||||||
|than one year||16||(730,623)||(945,137)|
|NET ASSETS EXCLUDING PENSION|||||||
|ASSET||||679,492||774,914|
|TOTAL NET ASSETS||||679,492||774,914|
|CHARITY FUNDS|||||||
|Restricted
funds||18||358,154||354,111|
|Unrestricted
funds||18||321,338||420,803|
|TOTAL FUNDS||||679,492||774,914|
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||||||2020|2019|
|---|---|---|---|---|---|---|
|||||Note|F|E|
|CASH FLOWS FROM OPERATING||ACTIVITIES|||||
|Net cash used
in operating
activities||||20|(25,503)|225,476|
|CASH FLOWS FROM INVESTING||ACTIVITIES|||||
|Interest received|||||324|361|
|Purchase
of tangible
fixed assets|||||(30,697)|(56,087)|
|NET CASH USED IN INVESTING|ACTIVITIES||||(30,373)|(55,726)|
|CASH FLOWS FROM FINANCING||ACTIVITIES|||||
|Repayments
of bank loan|||||(13,930)|(24,689)|
|Repayments
ofother loan|||||(150,000)||
|NET CASH USED IN FINANCING|ACTIVITIES||||(163,930)|(24,689)|
|CHANGE
IN CASH AND CASH EQUIVALENTS|||IN THE YEAR||(219,806)|145,061|
|Cash and cash equivalents
at the beginning
ofthe year|||||415,857|270,796|
|CASH AND CASH EQUIVALENTS||AT THE END|OF THE YEAR|21|196,051|415,857|
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||Restricted|Unrestricted|Total|
|---|---|---|---|
||funds|funds|funds|
||2020|2020|2020|
||F|E|F|
|Donations||20,906|20,906|
|Grants||112,550|112,550|
|Total donations||133,456|133,456|
||Restricted|Unrestricted|Total|
||funds|funds|funds|
||2019|2019|2019|
||E|||
|Donations||17,941|17,941|
|Grants|500|200|700|
||500|18,141|18,641|
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||||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|
||||||2020|2020|2020|
|Tuition|fees|and|other|income|6,000|627,624|633,624|
|||||||Unrestricted|Total|
|||||||funds|funds|
|||||||2019|2019|
|||||||E|E|
|Tuition|fees|and|other|income||810,978|810,978|
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|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2020|2020|
|||E|E|
|Bank|interest|324|324|
|||Unrestricted|Total|
|||funds|funds|
|||2019|2019|
||||F|
|Bank|interest|361|361|
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||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2020|2020|2020|
||||F|F||
|Charity trading||income||||
|Cafe income||||42,765|42,765|
|Gallery exhibition||income||12,684|12,684|
|Miscellaneous|sales||18,650|11,232|29,882|
|TOTAL2020|||18,650|66,681|85,331|
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||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2019|2019|2019|
||||E|F|F|
|Cafe income||||72,563|72,563|
|Gallery exhibition||income||28,125|28,125|
|Miscellaneous|sales||8,000|20,370|28,370|
|TOTAL2019|||8,000|121,058|129,058|
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||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2020|2020|
|||E|
|Cafe costs (general)|32,270|32,270|
|Exhibition costs|26,816|26,816|
|Cafe costs (wages)|22,395|22,395|
|TOTAL 2020|81,481|81,481|
||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2019|2019|
|||E|
|Cafe costs (general)|30,057|30,057|
|Exhibition costs|22,560|22,560|
|Cafe costs (wages)|34,402|34,402|
||87,019|87,019|
##
||Support|Total|
|---|---|---|
|Direct costs|costs|funds|
|2020|2020|2020|
|||E|
|325,624|541,052|866,676|
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||||Activities|||
|---|---|---|---|---|---|
||||undertaken|Support|Total|
||||directly|costs|funds|
||||2019|2019|2019|
||||E|F|E|
|Total charitable||expenditure|333,700|537,852|871,552|
|Analysis|ofdirect costs|||||
||||Total|
|---|---|---|---|
|||Activities|funds|
|||2020|2020|
||||E|
|Wages and|salaries|281,457|281,457|
|Models||20,501|20,501|
|Advertising||4,468|4,468|
|Purchases|of materials|19,198|19,198|
|||325,624|325,624|
||||Total|
|||Activities|funds|
|||2019|2019|
|||F|E|
|Wages and|salaries|268,886|268,886|
|Models||31,584|31,584|
|Advertising||10,131|10,131|
|Purchases|of materials|23,099|23,099|
|||333,700|333,700|
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|||||Total|
|---|---|---|---|---|
||||Activities|funds|
||||2020|2020|
||||E||
|Staff costs|||343,516|343,516|
|Accountancy
fees|||4,770|4,770|
|Insurance|||4,963|4,963|
|Telephone
and fax|||2,491|2,491|
|Printing,
postage|& stationery||8,651|8,651|
|Travelling
expenses|||4,454|4,454|
|Rent and rates|||12,647|12,647|
|Repairs, maintenance||and cleaning|32,875|32,875|
|Legal and professional||fees|11,630|11,630|
|Bank charges|||14,403|14,403|
|Sundry expenses|||2,628|2,628|
|Computer expenses|||10,362|10,362|
|Light & heat|||5,433|5,433|
|Mortgage
interest|||24,471|24,471|
|Depreciation|||57,758|57,758|
|TOTAL2020|||541,052|541,052|
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||Analysis
ofsup|port|costs (c|ontinued|)|||||
|---|---|---|---|---|---|---|---|---|---|
||||||||||Total|
|||||||||Activities|funds|
|||||||||2019|2019|
||Staff costs|||||||323,944|323,944|
||Audit fee|||||||3,500|3,500|
||Accountancy
fees|||||||8,500|8,500|
||Insurance|||||||2,986|2,986|
||Telephone
and fax|||||||2,732|2,732|
||Printing,
postage|8 stationery||||||10,456|10,456|
||Travelling
expenses|||||||3,991|3,991|
||Rent and rates|||||||(2,668)|(2,668)|
||Repairs, maintenance||and cleaning|||||39,945|39,945|
||Legal and professional||fees|||||20,381|20,381|
||Bank charges|||||||15,974|15,974|
||Sundry expenses|||||||3,579|3,579|
||Computer
expenses|||||||10,461|10,461|
||Light 8 heat|||||||12,984|12,984|
||Mortgage
interest|||||||30,645|30,645|
||Depreciation|||||||50,442|50,442|
|||||||||537,852|537,852|
|10.|INDEPENDENT|EXAMINER'S||REMUNERATION||||||
|||||||||2020|2019|
||Fees payable to the Company's|||Independent||examiner|for the independent|||
||examination
of|the Company's||annual|accounts|||3,500|3,500|
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|||||2020|2019|
|---|---|---|---|---|---|
||||||E|
|Wages and|salaries|||597,320|581,806|
|Social security costs||||42,193|38,887|
|Contribution|to defined|contribution|pension schemes|7,855|6,539|
|||||647,368|627,232|
|The average
n|umber|of p|ersons
e|mployed
by the Company
du|ring
the year was as follows:||
|---|---|---|---|---|---|---|
||||||2020|2019|
||||||No.|No.|
|Administration,|tutors|and|canteen|staff|34|29|
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||Long-term|||
|---|---|---|---|
||leasehold|Office||
||property|equipment|Total|
|||F|E|
|COST OR VALUATION||||
|At 1 September 2019|1,520,917|207,625|1,728,542|
|Additions|2,744|27,953|30,697|
|At 31 August 2020|1,523,661|235,578|1,759,239|
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||||Long-term|||
|---|---|---|---|---|---|
||||leasehold|Office||
||||property|equipment|Total|
||||F|||
||DEPRECIATION|||||
||At 1 September 2019||67,645|67,886|135,531|
||Charge for the year||30,418|27,340|57,758|
||At 31 August|2020|98,063|95,226|193,289|
||NET BOOK|VALUE||||
||At 31 August|2020|1,425,598|140,352|1,565,950|
||At 31 August|2019|1,453,272|139,739|1,593,011|
|14.|DEBTORS|||||
|||||2020|2019|
|||||f.||
||DUE WITHIN|ONE YEAR||||
||Trade debtors|||3,455|490|
||Other debtors|||395|2,220|
||Prepayments|and accrued income||17,557|893|
|||||21,407|3,603|
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||||2020|2019|
|---|---|---|---|---|
|Bank loans|||26,781|26,197|
|Trade creditors|||57,347|42,019|
|Other taxation|and social security||11,524|9,036|
|Other creditors|||76,919|5,037|
|Accruals and deferred||income|200,722|210,131|
||||373,293|292,420|
##
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|||2020|2019|
|---|---|---|---|
||||E|
|Bank|loans|679,447|693,961|
|Other|creditors|51,176|251,176|
|||730,623|945,137|
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||||||2020|2019|
|---|---|---|---|---|---|---|
|||||||E|
|FINANCIAL||ASSETS|||||
|Financial|assets measured||at fair value through|income and expenditure|196,051|415,857|
||||||2020|2019|
||||||E|E|
|FINANCIAL||LIABILITIES|||||
|Financial|liabilities measured||at fair value through|income and expenditure|(868,518)|(1,017,120)|
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|STATEMENT OF FUNDS - CURRENT YEA|R||||
|---|---|---|---|---|
||Balance at 1|||Balance at|
||September|||31 August|
||2019|Income|Expenditure|2020|
||f.||||
|UNRESTRICTED FUNDS|||||
|General
Funds - all funds|420,803|828,085|(927,550)|321,338|
|RESTRICTED FUNDS|||||
|Restricted
Funds - all funds|354,111|24,650|(20,607)|358,154|
|TOTAL OF FUNDS|774,914|852,735|(948,157)|679,492|
|STATEMENT OF FUNDS - PRIOR YEAR|||||
||Balance at|||Balance at|
||1 September|||31 August|
||2018|Income|Expenditure|2019|
||E|E|E|E|
|UNRESTRICTED FUNDS|||||
|General
Funds - all funds|428,836|950,538|(958,571)|420,803|
|RESTRICTED FUNDS|||||
|Restricted
Funds - all funds|345,611|8,500||354,111|
|TOTAL OF FUNDS|774,447|959,038|(958,571)|774,914|
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|ANALY|SIS O|F NET ASSETS BETWEEN FUNDS|- CURRENT PERIOD|||
|---|---|---|---|---|---|
||||Restricted|Unrestricted|Total|
||||funds|funds|funds|
||||2020|2020|2020|
||||||E|
|Tangible|fixed|assets|358,154|1,207,796|1,565,950|
|Current|assets|||217,458|217,458|
|Creditors|due|within one year||(373,293)|(373,293)|
|Creditors|due|in more than one year||(730,623)|(730,623)|
|TOTAL|||358,154|321,338|679,492|
##
|ANALY|SIS O|F NET ASSETS BETWEEN FUNDS|- PRIOR PERIOD|||
|---|---|---|---|---|---|
||||Restricted|Unrestricted|Total|
||||funds|funds|funds|
||||2019|2019|2019|
||||||F|
|Tangible|fixed|assets|354,111|1,238,900|1,593,011|
|Current|assets|||419,460|419,460|
|Creditors|due|within one year||(292,420)|(292,420)|
|Creditors|due|in more than one year||(945,137)|(945,137)|
||||354,111|420,803|774,914|
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|||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|---|
||||||||||E|
||Net
income/expenditure
for||the|period|(as per|Statement|of Financial|||
||Activities)|||||||(95,422)|467|
||ADJUSTMENTS FOR:|||||||||
||Depreciation
charges|||||||57,758|50,442|
||Dividends,
interests|and rents|from|investments||||(324)|(361)|
||Decrease/(increase)|in debtors||||||(17,804)|184,435|
||Increase/(decrease)|in creditors||||||30,289|(9,507)|
||NET CASH PROVIDED BY/(USED|||IN) OPERATING||ACTIVITIES||(25,503)|225,476|
|21.|ANALYSIS OF CASH AND CASH|||EQUIVALENTS||||||
|||||||||2020|2019|
||||||||||F|
||Cash
in hand|||||||196,051|415,857|
||TOTAL CASH AND|CASH EQUIVALENTS||||||196,051|415,857|
##
||||||At 1|||
|---|---|---|---|---|---|---|---|
||||||September||At 31 August|
||||||2019|Cash flows|2020|
||||||F|||
|Cash|at|bank and||in hand|415,857|(219,806)|196,051|
|Debt|due|within|1|year|(26,197)|(584)|(26,781)|
|Debt|due|after|1 year||(693,961)|14,514|(679,447)|
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