REGISTERED COMPANY NUMBER: 03590949 {EnglAnd and W<rsl REGISTERED CHARITY NUMBER.. 1074480 REPORT OF THE TRUSTEES AND UNAUDITED FINANCLAL STATEMENTS FOR THE YEAR ENDED 31 ￿y2021 FOR LIGHT ON THE MOUNT Watts Gregory LLP chartèr￿ Ae(I)un￿nL* Elfed House C*k Court Cardrff Gale Busin&s Park CARDIFF County of Cardiff CF23 8RS UGHTON THE MOUNT CIJ4TENTS OF THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 MAY2021 Pa Report of th• Tnmte Ind•p•ndent Examln•rf$ Report Stat•m•nt of Flnanclal Aetlvlt BalWn￿ Slwt Notes to the FIMncSal Ststemerts 7 to 14 Detsued Ststement of FIna￿l•l Aetlvltl•g 15 to 16 UGHTON THE MOUNT REPORT OF THE TRUSTEES FOR ThE YEAR ENDED 31 MAY2021 The trusiees, are also direct¢ys of the charity for the purposes of Ihe Corry)8nles Act 21￿6, present their ￿POrt with Ihè financial slat8m&nlS of Ihè charlty for the y&ar ènded 31 May 2021. Th8 tnjslees have adopted th& prO￿Slon$ Aecounts"ng and Reportsng by CharilEs". Slatemert of Recommen¢Jed Praetiee applicable to charil*s prepariNJ Ihelr aco)unts in 9￿OrdanCe wlth the Financial ReporNng Stsndard applcable in the UK Republlc of Irebnd IFRS 1021 leffect￿e 1 J8nuary 20191. OBJECTIVESAND ACTMTIES Objecthtes and alms The tharitV8 cbject and pdndpal ￿1Vity conbnues to be the advan￿Ment ol the ChristL8n farth wlh parb'cular emphasis on the provi8*trn of lrterature and other forms of cx)mmun￿8th.on. This objed is mei through the operati￿) of Christi8n bookshops trading under the name BOOKS Plus in the concourseol hosytals. charity is ¢xoanised so that the trustees rr￿1 regulady to manage iLs aff3irs. AJI slaff are eryloyed in dtr￿1 charilable acbviles. Publk benellt The trLJStees rAn u>nfim thAt thèy hAve compl*d wrth the duty in Sacuon 17 of thè ch8dts.es Acl 2011 to havè duè rÉg8rd to publk benefit gué8nce puNi8hed by the com￿sSion. &gnlficant 8cbwUes th81 we undertwk dudng the pedod that den￿)nstrate public benefit 8re sel out bebw_ Actfvltleg The ehsrity opÈr8tès through a bookshop known 8s BOOKS Plus Canlff. Ii)eAied at tha UnI￿r￿ty Hospital of W8bs, Cardiff and through ilswholly owned subsidi8rbs in Glou￿31er and Iprevi¢JJslyl Norwich. The performance at BOOKS Plus Cardlff has eontiryjed lo meet the chaniys obpcb've ol enhancing the caring envlronnEnl of the Univergly Hospitsl through the provlsion ol Chrlsban liter8lure 8nd related g(A)d5 atthough In a rèdu{￿ mannÈrdurSng 2UiO-2021. In mid-JuW 2020. as a resuM of the rewiremert from the supedor laThYlord that BOOKS PILL4 Cardlff re1C￿ts from Untt 6 to Unit 8 wilhin the hospital relail eoneourse bul fdk)wing somedelay as a ￿sUPtof the Covid-19 pandemie, work to P￿pare and frt Unit 8 0)mmenced in e8mest. The fil wascompleted by 30 September 2020. However. neg0b'al￿)ns reg8rding how mul* &l1uslrr￿nt should be made in th& initial rent lo be tharged for Unit 8. in view of the consIder8b￿ out1￿ made by B￿Ks Plus Carflff in making gocmj Unit8. and also in viewof the uncertain impactof COV￿ resth'ctiorts on trading ￿v￿9, rèsultèd Sn an ongdng dÈlAy h Unrt 8 bets)￿ng fèaty lor trAJsSntss use. Because of Iht% delay, an afternatsve Iwnwrary trading venue in Dafton Street Cardiff was secured during Lgte Ncvember 2020 In-perstj) trading conwn￿ced in tr)e run up to Christmas 2(120. On 12 Decembtt Ihe UK government required that all nonessential retail out￿lS ￿aSe trading so BOOKS Plus Car¢lff. for a S￿Ond lime snce the cOm￿n￿Ment d Ihe Covid-19 p8nd￿niC. was forced to cease trading in-person. However. during the of the pericAI that this report la￿S 10. BOOKS Plus Cardlffs online shop provided a useful presen(* IradiThJ out￿l w￿h many cusion*rs being seNed through onyvanent delklery 8rr8ngemenls. COTrwrEnce￿nt of tr8ding within Un* 8 VAII be the subject of the 2021-2022 rèport. The whdlyowned subsSdl8ry. BOOKS Plus Glouc•ster Ltd h85 trad8(15uttÈssfvllydurSng Ihe ye8r wSlh leww re$￿e￿On$ imposed by the govemment and hospilal in EngI￿lJ. Slaff at Gloucester have worked hard runni￿ an ellective operali with the shop ¢(￿lInUIng lo trade al higher levels than in Cardiff because ol Ic￿ger perh￿$ of pemitted trading. The opèralon will rerK)rt a tethnieAI tradiig loss for 2(Y20-2021 berAusè of the èrreet of the Covid-19 ￿dem￿, all othèr thlngs being equal. The intercharoe of kTh￿￿￿ge an¢J expertse betsyeen slall in Gloueester and Cardiff ccnlinuts to have gnlfic8nt benefms for both centres wlth integr8led use of Offre365 as well as 0)-use of acccuntiry and EPOS systeff6. Plans to integrate tt)e Nvo fir£nce teams Inlo one finarte team serving both shops remained on hol¢J durin9 202¢>2021 because ol the pandemk. BCQKS pl￿ Nornfkh Ltd remainsd￿Mant, wlth ¢)plior6 b recommen￿ at 8on* stsge in the ftjture elther in NOrw￿h ¢x at a hosp11￿ In Ih81 part of the o)untry. Page 1 UGHTON THE AIOUNT REPORT OF THE TRUSTEES FOR ThE YEAR ENDED 31 MAY2021 RNANCL4L REVIEW The resufts for the y￿r are summ8rised In the stste￿nt of Flnanaa ActiMJes. Net assets and unrestricted reserves ￿n￿Umt 10 £39.083. A pdor year adjustment has been made lo renM)ve aco)unlng entries for Volunteer tsme, that had teen re(ognlsed w￿h1n donat'on income in the 31 May 2020 financiql slalemwls. The adjusbnenl lo the 31 May 2020 eomparab've ¢Jata has resulted in 8 reduction lo donats'on ino)me reForled of £34,397, wrth an equa reducbon lo Direct o)sts 'use of voknnteer me. Thè adlustmènt has not rèsulÈd In an amèndmènt to thè nèt h¢unÈ rwrtèd or Balants Shèèi ￿￿On. Reserves polky SuffiiJenl ￿$È￿e5 are held b support the conlnuatbn of the acti￿tY ￿ the short-tem & 8 number of Indlviduas 8nd churches have supported the work during the year. Fun¢Jraisng relab'ng lo the provision of the re￿Wed and refitted sfv)p n C&rdrff￿ll o)nYnenc* at tKJinl BOOKS Plu$ Cordlff re0￿r￿ In Unit 8. Increa&ng supwrt for Ihe work remalns 8 priority lor the fubjre d the charity with new 8clivity.es being considered and Whi￿ the financial dimate ranains somewhat dIff￿utt. Reserves are held to en￿jre the (h8rity i8 well Pla￿ to fubjre dem8nds on Its resources. The trustees ￿nS#￿er the level of reserves lo be 8dqu81e. FUTURE PLANS The trusteès exKTreet to m8lnraln 8dvrty at thè Unl¥ÈNiy Hospilal ol Walès VIA BOOKS P￿$ Canlff In Unlt 8 of thè hospital's main entranie and ccncourse. The trwtees wll have as major forjjs engag￿ent and fundraising as the charity fin8llses the tJ8ns for openlro the new shop. Me85ures lo redu￿ operalng cr6ts 8re b8ng pursued 8S Ferl of the ongoing approach tsken by the d)arily. A subs￿l3ry eharrty BOOKS Plus Cardlff LIM￿ed has been &tablished to F*ndle the oper8lon of the nyni5ty in C8rdlff. Currendy thi5 charity is domi8nt because of the imp8d of Ihe pande￿C on openir¥J lor tradng BOOKS Plus Cardlff In Unlt 8. The Iwstees 8re contirnjing to explore. with key supwrters. ways to exp8￿ this work. The FM)ten181 for 8 8OC*(S PIUJ projeet being establis￿ at a healheare k)cation in Peftt)rOkeShi￿ ￿ManS a realist'c possibilty and some work is Unde￿aY wtth a th81 sleerhg group. The abllity to deTr￿nStrate both in C￿d￿f and GI￿J￿ster that the mknlstryltrading nw)del 18 SU8t8inatle, ranains 8 key emènt of thè d)arftys stratè9y. STRUCTURE, GOVERNANCE AND MANAGEMENT Gov•rnln9 d¢xum•nt Light on the Mount is a compBny linlted byguAranleeand a registered eharity. Thecharity iscontrdled tw its MemoroThJum and Arbdes 0[As￿L￿tion. Recrultment and appolntment of new trustees The formal mellyxl ofapptsints.ng trusleès is eimt8in￿ ￿thIn tra thnsts"lulon ol thè charity- Nèw trus1É￿ are Appolnted by fi)mial resdutbn ofe￿SIng trustees. New trustees are irained by other trustees the charity's M￿agement staff lo become familar wth the tharity s Obj￿￿%￿S, constrtubon. menN)r8nd8 andarticles ol incnrFM)r8Uon, their *al dUt￿S as trust￿, bu&ness, finan￿ and other latèd oK*rAts"onal mattèrs. REFERENCE AND ADMINISTRATIVE DETALS R•glst•r•d Company numb•r 03590949 IEngland and Wales Redstered Chartty Nmber 1074480 Reglstered offke 7b HighfiÈld Road Cardiff CF14 3RE Trustees C J Gra¥Ès A S DLbljevic IPDon8 Ch8lr Page 2 UGHTON THE MOUNT REPORT OF THE TRUSTEES FOR ThE YEAR ENDED 31 MAY2021 REFERENCE ANO ADMINISTRATtVE DEfALS Company S•erntary A S Dubljevic kndependènt Examlnfrr Watts Gregory LLP Chartered Accountants Elfed House Oak Tree Ctyjrl Cardiff Gale ￿sInesS Park CARDIFF County ol Cardiff CF23 8RS Ba￿er$ CAF Bank 25 Kings Hill Avenue Kings Hll West MalllrYJ Kent ME194JQ sania￿er UK plc Merse￿de GIROAA This report has been Prepa￿ In a(Lordan(e the spedal prO￿510n$ ol Part 15 of Ihe com￿leS 2C¥J6 Telalng to smai eompAniès. Approvèd by ordèrol the Board ol Trusrèès on.....171h February. 2022 . and sSgned CA) St4 bèhalf by.. C J Graves - rusloe Page 3 INDEPENDENT EXAMINER'S REPORT TO THETRUSTEES ( UGHTON THE MOUNT d•penthnt oxamlnerf¥ reportto the trugte•s of Llght On The Mount Dh• Company I report to the Charity trustees on my examinaion ol the 8c£oun& ol tl* Company br the Yeare￿e￿ 31 May 2021. R•sponslbllMl&s and bakls ol report As the ehantys Irusiets of the Company land also Is direcb)rs for the purposes ol cthnpany law) you are ￿ponSble fry the prep8ralon ol the a(Lourts n a(cordan(e ￿th the rewiremerts of the COmpan￿S kn12(Th Cthe 2006 Act'l. HO￿ng satbfied my8elflh8t the accounts oflhe Company are not required to be &dited under Part 16 olthe 2C(6 Act ar are eliglble lor independent ex8min8bon. I rèport in reS￿l of my examSnatSon of your tharSlls 8ixountS as fArrl8d OLJI under s￿tion 145 olthe Charits'es Act 2011 nhe 2011 l. In Car￿ng out my exam*iation I have fdk)wed the Drecl'or glven by the Charity Comm15￿on undersedon 145151 Ibl of the 2011 knt. kndependènt examlner's Ststement I h8V& i￿)mp￿ted my examn8bon. I cDnfim It¢t no mallets have ￿me b) my 8#entSon Sn ttJnne¢tk)n wtth the exarrin8tion giving cause lo bdieve.. Aeefjunts"ng records ￿re not kept In r•s￿l of the C(mp8ny as required by s8dlon 386 01 tr)è 20(￿ ACL or the aco)unts do not accord with those reo)rds,' or the 8ccounts do not cxTrrnpty with Ihe 8co)unlng requiren*nls of s￿￿On 396 of the Act other Ih8n any requremenl that the ￿cOunts 9ive a tr￿e and lairvEw whkh is not a matter o)nsbJered as part ol an independ￿l examinatson,. or the &1*)unt8 havè not beèn prèparèd in se￿)rd￿n(￿ wrth thè methi)ds and prinf#plès of thè Ststèmènt of Re¢nTh￿ler￿ed Prac￿￿ for 8co)unling and re￿rI.ng by th8ritEs18pplicable to ch8rrties preparng their 8c(oJnts kn a¢0)rd8n￿ wilh the Financial Reportsng Stsnd8rd 8PFAic8ble in the UK and Republlc of Ireland IFRS 10211- I h8ve no concems and halt c¥)me aGTOSS no other matÈrs In COnn￿￿On wtth the exanlnalon to vthkh atten￿￿ should bè drawn In trls rèport In ¢ydèr to •na￿e a prow urnlèrstsndlro of aei*AJnts to rè&hèd. Julia M)rtinEr FCCA Watts Gre90ry LLP Charterefl AC￿nI￿nIS Elfed HoLJse Oak Tree Court Cardiff G81e ￿sinesS Park CARDIFF County ol Cardiff CF23 8RS Date.. 24 Fobruary 2022 Page 4 UGHTON THE MOUNT STATEMENT OF FINANCiAL ACTivifiES IINCORP(JUTING AN INc￿E AND EXPENOITURE ACCOUNT) FOR The YEAR ENDED 31 MAY2021 2021 Unrestrttéd funds 2020 Total fijnds reststed Notes INCOME AND ENDOWMENTS FROM DOna￿On$ and lègAdès 20,589 70,891 Charltsble acthttles Sale of Chnsli8n literature 13,929 122,886 Inve5trnent income Qher ncome Tot*1 37,526 196,781 EXPENDITURE ON Charltabbè aetfvttl•s Sale of Chdst18n Ilterature 60,261 162,935 NET INCOMEIIEXPENDITUREI 122,7351 33,846 RECONCILIATIIX4 OF FUNDS Totsl funds tfOUghtf(Yward 61,818 27,972 TOTAL FUNDS c￿RIED FORWARD The notes fum part of Ihese fln8na81 Stste￿nts Page 5 UGHTON THE MOUNT BALANCE SHEET 31 MAY 2021 2021 UnfeStr￿ted ftjnds 2020 Totsl fijnds Notes RXEDASSErs Tangible assets Investhènts 13 14 95,769 13 22,910 13 95,782 22,923 CURRENT ASSErs St( Debtors Cash at bank and in tond 15 16 43,621 7,203 41,090 5,993 68,489 65,934 CREDITORS Am(MJrnS falling duè ￿th￿rn onè year 17 1125,188) I27,0￿) N￿CURRENT ASSErs TOTAL ASSEfs LESS CURRENT LIABIUTIES 39,083 61,818 N￿Ass￿5 39 083 FUNDS Unrestricted ￿ndS 19 39,083 61,818 TOTAL FUNDS The eharitBble o)mpany Ls entillbj to exetrwtlon frcrn Audit under Section 477 of Ihe Companies Aet 2c￿6 f￿ the year ended 31 May 2021. The members have not company lo obtaln an audtt ofits fn8ndal st8leM￿ts lor the yew eThJed 31 May 2021 n Sworda￿e S¢ctSon 476 of the Corrpanles P£t 2CHJ6. The tr￿teeS 8cknowledge ther responsibilities lor •n￿ring tttai Ihe thari18blè eonyany kéèps A(£ounts"ro rÉfA)rds that Comply wrth Sèctlors 386 a)d 387 01 the Companies Act 2006 and prepadng fIn￿CLaI statements whlch give 8 true 8nd tsir wew of the stsle of 8ff8lrs of the th8ritsble company 85 al tt)e end of each financial year ol ils surplus or ¢Jefial lor each financ4al year in aceordanee witr) the requrements of Secb'ons 394 and 395 and which otherwise comply wilh the requirerrents of the Companies Ad 201E rèl8ts.ng to fi13neL41 s￿tèM&nL8, so f8r as applt8Nè ￿ thè tharrtab￿ (%)M￿NY. Ibl These financial stslements have been Prepa￿ in accordan￿ the provlsions applrabb b) cha￿1a￿e corrpanles gjbject to the small conyanEs regitrE. 17th February 2022 Thè fSnartial StA￿menL% wèfèApprovÉd ty Ihè Board rfTrusttss And author￿é￿ br on.... and igned on its behalf by.. CJGr . TruslÈÈ The notes fum part of Ihese fln8na81 Stste￿nts Page 6 UGHTON THE MOUNT NOTES TO THE FINANCLAL STATEMENTS FOR ThE YEAR ENDED 31 MAY2021 STATUTORY INFORMATION Light on the VK>unt IS 8 Wisteful charity and wivate ￿mp￿Y Imkeil by gLBr8ntee haviry no Sha￿ cawld. h is Incorporated in Wa￿$ in the iknited Kirydom. The reg￿tered offi(£ is 7b Huhrie￿ Road, He8th, C8rdiff, CF14 3RE. The nature ol the tharitab￿ eoN¥)anYs Operatio￿ and pr￿e4paI activits.es are disdose(I withii the Rq)ort ol the Trustees. The financial slate￿nts are presented In Sterlng 1£), the eharitatle comFeny's fijnctional oJrretKy, and rounded lo the ne8resl wuTrJ. The sonificanl accountsng ￿1￿leS apFlied li the preparab'on ol IFEse finatxKql statements are sel out below. These TrIk￿￿5 h8ve been ￿nsIste￿OYapP1Ied lo all years presented unless 01h8Th￿se stated. ACCOUNTING POUCIES Baslg ol prep•rlng the flnanclal statern￿ts The financial sl8tÈments of Ihe ch8ril*>le o)mpany. wN¢h 5$ 8 public beneftt enllty under FRS 102. h8ve been preparefl in accordance *ilh the Charits"es SORP IFRS 1021'Accountsng and ReForts"ng by Charitses". Staten*nl of Recommended Practre 8PFIic8ble lo charit￿S prepariry their aco)unts M a￿ordanCe wlh the Finarrial ReFM)rting Siand8rd applicAb￿ in Ihe UK and Rttpubl￿ of IrelÈnd IFRS 1021 leffeetive 1 January 20191., Fin8nelal Reporting Sl8ndwd The Fin8ncAal RepcTrrtng Standard applic4b￿ in the UK and Republic ol Irel8nd' bhe Companies Aci 2006. The linand81 sl8temen¢s h8ve been prep8red under tke hbtorical o)st cDnventlon. There ha¥t been no material depa￿Te5 from Finand81 Repo￿ng Stsndard 102. rx+lrq COn￿M The trwlees are s8bsfied ¢h8t despMe the Coron8vlrus pandemr, tt is 8ppropriate for the ch8rlt8bb company s finanaal sLqlements to be prepared a goiTh) ￿nC£M bays. The trustees have lak￿ ￿asOnable steps lo minimise the effect on the ch8rilable company and will conb'nue to do ￿. In the circumstan￿5 they have concluded that no 8djustm?n150r xddib"on81 disclosures are requlred kn the fin*ebl sl8teff￿nts al time. Incun* AJI Inix)me Is reeognised #) the Statement of FlnaneKql ACt￿lIeS orte thè eharrty h8senllUement to the lunds, It probab￿ thal the In(ome wil be received, and the amountcan be measjred reliably. Donalons and legacies incon* indudes donat'ons and gifts that proV￿e core fvnding or are ol a general nature 8ndare reixM3nSsed where there is entMlunenL prcb8bllity of re￿Ipt 8nd the amunt Gqn be measured wrthsLJff￿￿n¢ relia)Ility. Such infx)me s fx)ly deferfftd when Ihe donor speafies il nMJSt be us&1 In future aett>uniin9 per1￿1$ or the domr has Imws&J condth)ns which Trwst be mel before the charity h8s uncondilon81 entttleTrnt Inccrne IromchAdt2Ne octwibes Indudes income r￿1¥￿￿ from Bookshop sales. Thig ino)me s recognised atthe tKTrint of sale_ Investrnerrt ino)me Is recognised on a ￿e￿atIe tesi4. tt is not the polity of Ihe eharrty to show incomiry rewjrces net of expendlure. Expènd￿￿+ Liatilitses are reojgnlsed asexpendtture assoon as Ihere Is a legal or ￿nStructive oNigationcot7wnltting the charity to thai exp8rditurè. l is probable that a transfèr olÈth)nom* benefiL% wil bè requrtd in sett￿ment snd thè anKTrunt of the obligation can be measured reliably. &Xpendi￿re is accounted for C￿ an accruaLs basis and has teen clasgfied under he8dngs th8t aggregate 811 cost re181ed to the category. Where costs cannol be direcyy 8ttributed to P8rts"(yJlar headings they have been auocated to actfvlies on 8 basis consistent VAlh the use of restyjrces. Charitsble 8xp8ndlture ctrnprists thos& i>)SLs ineurred by the chatty in th8 deliv8ry of its acbviU8s 8nd SÈ￿￿5 for its b￿ef￿h?f￿S.1l includes both o)sts that can be allocated drecdy lo activities and those cc6ts olan indirect na￿re n￿esSary to SUPF¥)rt ttrem. SupFM)rt o)sts are those (osts IhaL whibl necessary to delver an actwity, do not themselves pro(lJce or c￿S*'Iute the outpulof the ch8dl3bl8 Èctwtty. Thls Ineludes ￿vernanCe c0615whith are those costs assw8tgY wrth ￿￿tIn9 the consbtuts.onal and statutory requrements ol the charity. Page 7 continued... UGHTON THE MOUNT NOTES TO THE FINANCLAL STATEMENTS- Contlnued FOR ThE YEAR ENDED 31 MAY2021 ACCIXINTING POUCIES.contknued Tan9ts￿ fix•d asmts Fixay assets are inMialy recorded atcost t)eprecaalon Is provided at IIE fo11th￿ng 8nnu81 rates In orthr to write off eath asset over Its usefijl ￿otK)m1C Ilfe. Lea8ehohJ impro¥ements Fix￿re$, fttings and equlpn*nt The Shotsr of 10% or over the remainino term of the lease 4- 10 years siraighl Ine Flxed asset Imi*$tmffits Fix￿1 8SSet inve5¢ffen¢$ 8r8 re￿r(led al¢osl bss 8ny provSslon requk41 br dSminubon in v8kJe. Stocks Siocks 8r& Valu￿ at thè lowèrof (x%t and nèt re8lis8blè value, after Ma￿n9 due 8low8nce fr)r a￿lett and sk3w nTh)ving items using the FIFO St￿kvalUatIon Tr*thcMJ. Taxatl¢)n The charity Is eBnts r￿1ved, induded In Ihe above, are as fdlows.. 2021 2020 Cardiff ￿nty CtyJndl- Small businèss grant Job Retent'on Sche 25,LKK) 17,317 27,360 VESTMENT NCOME 2021 2020 Trading Su￿d18ry donalon 4COME FRThI CHARITABLE ACTMTIES 2021 2020 Bcokshop sales 122 886 CHARITABLE ACTIVITIES COSTS Dirèel pport Costs costs (See note 71 (See no¢8 81 Tols Sale ol Chrislk8n liter8tu 44,226 16,035 60,261 DIRECT COSTS OF CHAR￿ABLE ACTIVITIES 2021 2020 reslated Stsff costs Rènt Rates servi￿ th8rges Cost of bod(shop sdes Travel and subsislen Other staff & ¥oluntÈèr costs 33,147 32,266 25,183 3,638 11,415 76,479 9,913 74 44,226 149,924 Page 9 continued... UGHTON THE MOUNT NOTES TO THE FINANCLAL STATEMENTS- Contlnued FOR ThE YEAR ENDED 31 MAY2021 SUPPCIIT COSTS &)vèrn8rneè cos Finanee Other TotaLs Sale ol Christiqn lileralure 275 8,920 6,840 16,035 knchjded withkn sjpport ujsts are fees payable lo the independert ey2miner of£125012020'. £12501. TRUSTEES. REMUNERAnON AND BENEFrrs There were no trustees. renMJneratbn or other beneflb for the ye8r ended 31 May 2021 or for the year ended 31 May 2020 Truste•g' •xpens•g There were no trus*es' expenses for year end8J 31 May 2021 orfor Ihe year ended 31 May 2020. 10. STAFF COSTS 2021 2020 Wages and S8￿rES Other pensDn o)sts 32.182 965 31,358 908 33,147 32,266 The average monthly number of empbyees duriThJ the y￿r was as fc4bws'. 2021 2020 Avèraje èmployèès No empk)yees receibtd etTr)luments In excess of £60,(IXJ. 11. COMPARAT￿5 FOR THE STATEMENT OF FINANCIAL AcTIV￿lEs Al ir¢on* and expendtture in Ihe ytr8r ended 31 May 2020 was unrest￿18(1. 12. PRIOR YEAR ADJUSTMENT A prh)r year 8dlusknenl h85 been mBde to remove a0￿untIrE enldes br vdunleer Ime, that had been re￿nISed thin donabon iictyne, in the 31 May 2020 linaneial statements. Thé adpstmènt to the 31 M8y 2020 (x>mpar8tlvè data, has rtsultèd in a re￿￿10n lo don8tkM ir£omè re￿rta￿ or £34,397, with a) equal reductv)n to Direct costs 'use of vdunleer bme,. The adpstn*nt has not resulleil in an amendment to the nel ineome reported or Baknee Sheet p￿"th)n. Page 10 continued... UGHTON THE MOUNT NOTES TO THE FINANCLAL STATEMENTS- Contlnued FOR ThE YEAR ENDED 31 MAY2021 13. TANGIBLE FIXED ASSETS Flxtures. fittings & eqUipM￿t Lèasehold improven*nts TotaLs COST At 1 June 2020 Addilons Dsposah 65,065 71.954 4T,2￿) 19,351 1.846 12,038 84,416 73,81M) 59,334 At 31 May 2021 89,723 9,159 98,882 DEPRECIATION At 1 jur￿ 2020 Charge for yèar I￿nated on dBpos81 47.296 14.210 941 12,038 61,506 941 At 31 May 2021 NEf 8OOKVALUE At 31 May 2021 At 31 M8y2020 14. FIXED A&8ET INVESThIENTS Shares in group underta￿n COST At 1 June 2020 and 31 May 2021 13 NET BOOKVALUE At 31 May 2021 13 At 31 M8y2020 13 There were no IrNestrnent 8S8etsoUt￿￿e the UK. The conwnls investrnents at the balanee sheet date in the Sho￿ c￿lt￿l of conwnles kndude the Idb)wn9'. Books P￿$ G1￿c•st•r Lknlt•d Nabjre ol b￿lre$S.. Bookshop Class of share.. Crdknary shares hotsjing 1(M) 2021 2020 gwatè car￿131 8nd rèsèrvÉ& Profit br the y&r 62.528 64,108 Page11 continued... UGHTON THE MOUNT NOTES TO THE FINANCLAL STATEMENTS- Contlnued FOR ThE YEAR ENDED 31 MAY2021 14. AXED ASSET INVESThIENTS Books Plus Cardlff Llmlted Nature ol bLsi￿SS. Dormant o)mpany Class of share.. Crdinary shares hokling 1C Books P￿$ Norwkh Lknlted Nabjre ol b￿lre$* tN)m8nl o)mp8ny Class of share.. C*dkn8ry sh8res hohjing 1C(I 15. STOCKS 2021 2020 Stocks 43,621 41,09) DEBTORS: AMOUNTS FALLING DUEWITHIN ONE YEAR 2021 2020 Oiher debtors VAT PrèpaymènL% And AttruÉd Ina)n 1,857 2.157 1,814 1.454 7.203 5.993 17. CREDrroRS: AhlOUNTS FALUNG DUE WITHIN ONE YEAR 2021 2020 Tr8d¢ eredltors Soci81 security and other 18XeS Other credrtofs knruds and delerre(1 Sn¢ome 5.055 607 112,469 4,179 205 17,198 125.188 27,039 18. SECURED DEBTS 2021 2020 OthèrcrÈdtt¢)rs- loan The abobt108n Is secL ￿d by way of a flxed and floabng charge over the &sels ol tlp company. Page 12 continued... UGHTON THE MOUNT NOTES TO THE FINANCLAL STATEMENTS- Contlnued FOR ThE YEAR ENDED 31 MAY2021 19. MOVEMENT IN FUNDS Nel movemait In fwds At 3115121 Al 116120 UMe$trfcted fund# Gèneral fijnd Designated fund- new br8nthes 122.715) 33,769 5,314 5,314 61.818 22.715 39.083 TOTAL FUNDS Nei nb)vemenl In fvnd5, indude(I In the 8bo¥e are 85 follows.. Incoming resouri*s Resources eX￿nde(j MoveffEnt fvnds Uffestrlct•d furnlg General fijnd 37,526 160,261) 122,735 TOTAL FUNDS Cthnparatlv* lor mo¥•m•rt In funds Nel movemait In fwds At 311512) At 1￿119 Uwestrlcted fuThJg General fund Designated fund- new branthes 22,658 33,846 27,972 33,846 61,818 TOTAL FUNDS 27,972 33,846 61,818 Page13 continued... UGHTON THE MOUNT NOTES TO THE FINANCLAL STATEMENTS- Contlnued FOR ThE YEAR ENDED 31 MAY2021 19. MOVEMENT IN FUNDS - ct)ntknu•d CompAf8iN4è nèt mvanènt In knnds IndudÉd In thè Abo¥è Èrè as folows.. Incoming resources restated Resources expendefl restated MovenEnt ￿n￿$ restated Ur*e$trlcted fund* General fvnd 196,781 1162,935 33,846 TOTAL FUNDS 162 935 D•slgMt•d lunds New branches lurd - fijnds 8r8 belng sel aide Io 8llow the tharfty to open new branches kn the ftjture. PENSION COMMrrMENTS During the year ended 31 May 2021 the charity made o)ntrbuli)ns tolaling £1,27012020'. £￿) to Its eM￿oYeeS, pension plan. A5 8131 May 2021 there were contributbns outstanding of £45612020.. £1851. 21. RELATED PARTY DISCLOSURES During the year aggregate donations of £Nil12020.' £38,040) were rece￿ed from trustees. During the year aggregate loans or £95,00012(QO.. £17.IJOOl w&e rece￿ed from trustees. Ai 31 May 2021, an anTh)unt of £112.OW IX)20'. £17.OOJI was outstanding In respeclof these108ns. Page14