2021-01-31-accounts - South West Lakes Trust

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CHAIRMAN'S	REPORT
OUR PURPOSE, OBJECTIVES AND ACTIVITIES
	Statement ofregard for CC's guidance	on public benefit
	Charitable purpose
	Key activities
	Meeting our aims and objectives
	Campaigns
	Strategic framework
	Measuring our success
STRATEGIC	REPORT

ACHIEVEMENTS AND PERFORMANCE
Public Access
Conservation and Education
Recreation
FINANCIAL REVIEW			8
Reserves policy			10
Principal funding sources			10
Minimisation ofbusiness	risks		10
PLANS FOR THE FUTURE			12
STRUCTURE AND GOVERNANCE			13
Relationship with Subsidiary		Companies	13
Recruitment and Appointment		ofTrustees	13
REFERENCE AND ADMINISTRATIVE DETAILS
RESPONSIBILITY OFTRUSTEES			15
AUDITOR'S REPORT			16-18
FINANCIAL STATEMENTS			19%5

MISSION	MISSION	MISSION
		South West Lakes	cares for natural and historic environments, providing				health, social and
		wellbeing benefits for individuals and communities.
COMMITMENTS -"RAISE			our game"
~		Resilience:	Think long term for biodiversity and people.
~		Advocate:	Stand up for our beliefs and empower others.
~		Inclusivity:	Promote equality and dignity in all that we		do.
~		Sustainability:	Innovate for a sustainable future.
~		Engaging:	Consult stakeholders and develop partnerships				to achieve more.
		"Webelieve engaging with the natural environment enables			people to grow. "
IMPACT
By	2030:
~		For the environment;	Our managed landscapes will be abundant,		diverse and connected.
~		For people:	Lives will be enhanced from experiencing		the	outdoors.
OUTCOMES
Our		managed landscapes will be abundant, diverse, and connected.
		~ The biodiversity	value ofour places is enhanced and better connected.
		~ Our environmental work is shared and recognised.
		~ We strive to be	carbon neutral in our activities and processes.
Lives will be enhanced			from experiencing the outdoors.
		~ More young people enjoy, respect and benefit from green and			blue		spaces.
		~ A more diverse	range ofpeople are inspired by and engaged	with		our places and
		experiences.
	~ The health and		wellbeing ofmore people is improved.
To	become recognised		as a regional and national exemplar for promoting			conservation		and
recreation and managing the balance between them.

ort ofthe Trustee	s for the Year Ende	s for the Year Ende	d 31January 2021
REFERENCE AND DETAILS	ADMINISTRATIVE		STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity registration number 1079966			Constitution
Company registration	number 3946529		The charity operates under its Memorandum
Registered Office Roadford Lake			and Articles ofAssociation and is constituted as a company limited by guarantee.
Broadwoodwidger			SWLTTrustee Board and Chief Officers
Lifton
Devon			David Robertson, Chairman
PL16 ORL			Chris Balch,
			Malcolm Bell
Bankers			Dan James,
Lloyds TSBBank pic 1"Floor Sedgemoor House			John Lee, OBE Vice-Chairman Ed Mitchell
Dean Gate Avenue			Dinah Nichols, CB
TAUNTON			Monica Read
TA12UF			Josephine Traill Thomson
Solicitors			Jo Ecroyd (Appointed 28January 2021) Matthew Boyer, Company Secretary
Matthew Boyer, Solicitor The Generator			Patrons
Kings Wharf EXETER			Cairns Boston, MBE Keith Bungay
EX24AN			Peter Briens
			Roger Preston
Tozers LLP North Door, Broadwalk Southernhay West EXETER EX1 1UA	House		Chief Officers James Platts, Chief Executive and Director ofSouth West Lakes Limited Diane Bassett, Strategic Director of
Chartered accountants Statutory auditor PKP Francis Clark LLP Centenary House Peninsula Park Rydon Lane EXETER		and	Corporate Services (retired 31 March 2021) Lisa Tame, Impacts and Engagement Director (Environment and Engagement Director from 1 January 2021) Colin Valiance, Managing Director ofWheal Martyn Trust, Director ofWheal Martyn Enterprises and Operations Director ofSouth West Lakes Trust (Heritage and Governance
EX27XE			Director of South West Lakes Trust from
			January 2021)
			Lesley Whitworth, Chief Financial Officer
			from 1 January 2021
			Neil Reeves, Director ofVisitor Experience
			from 1 January 2021

				Unrestricted	Restricted	Restricted	Total	Total
					Fund:	Fund:	2021	2020
					Wheal	Other
					Martyn
			Note	E
Income
Donations and Grants Charitable activities Other trading activities			4	130,139 1,091,994	18,995 344,370	6,847 533,508	155,981 1,969,872	34,985 1,989,019
Commercial trading Other Investment income Negative goodwill written back Total income			7 12	1,716,348 14,133 47,969 3,000,583	96,348 2 47,249 506,964	540,355	1,812,696 14,133 47,971 47,249 4,047,902	1,946,937 46,531 52,556 47,249 4,117,277
Expenditure
Costs of raising funds
Commercial Iother trading			6	1,432,514	109,805		1,542,319	1,912,341
Other fundraising costs Expenditure on charitable Total expenditure	activities			87,411 1,010,232 2 530,157	306,876 416681	601,832 601,832	87,411 1918,940 3548,670	90,310 2,069,276 4,071 927
Net income I(expenditure) year before transfers		for the		470,426	90,283	(61,477)	499,232	45,350
Transfer between funds
Net movements in funds	before
Tax				470,426	90,283	(61,477)	499,232	45,350
Taxation					(442)		(442)	7,300
Net Movement in funds -	after
Tax Reconciliation offunds				470,426	89,841	(61,477)	498,790	38,050
Total funds brought forward			19	896,781	1,164,799	1,733,007	3,794,587	3,756,537
Total funds carried forward				1,367,207	1,254,640	1,671,530	4,293 377	3,794,587

				2021		2020
			Note	Consolidated f	Charity E	Consolidated	Charity E
Fixed assets
Intangible assets			12	(425,237)		(472,486)
Tangible assets			13	3,402,207	1,878,677	3,281,222	2,058,491
Investment property			14	220,000	220,000	220,000	220,000
Investments					100		100
				3,196,970	2,098,777	3,028,736	2,278,591
Current assets
Stocks			15	92,989		82,337	1,700
Debtors			16	841,053	928,004	1,004,748	636,938
Cash at bank and	in	hand		1,673,175	618,719	633,481	245,987
				2,607,217	1,546,723	1,720,566	884,625
Creditors: amounts		falling
due within one	year		17	(1,273,810)	(637,887)	(954,715)	(564,552)
Net current assets				1,333,407	908,836	765,851	320,073
Total assets less	current
liabilities				4,530,377	3,00?,613	3,794,587	2,598,664
Creditors: amounts		falling due
after more than one		year	18	(23?,0QO)
Net assets				4,293 377	3,007,613	3794,587	2,598,664
Funds
Restricted fund: Wheal Martyn
Trust			19	1,254,640		1,164,799
Restricted funds:	other		19	1,671,53Q	1,671,530	1,733,007	1,733,007
Unrestricted funds			19	1,367,2Q7	1,336,083	896,781	865,657
Total charity funds				4,293,377	3,007,613	3,794,587	2,598,664
Approved p d aut behalf by orised		f r is	the Trustees	on 2R MQ	ZP Lt	and signed on their

		2021	2020
	Note	F	F
Cash inflow from operating activities	23	1,210,312	841,702
Cash flows from investing
activities
Interest and rents from investments		47,996	49,551
Proceeds from sale oftangible fixed assets		12,459	118,974
Purchase oftangible fixed assets		(468,073)	(865,836)
Cash used in investing activities		(407,618)	(697,311)
Cash flows from financing
activities
Repayment of bank loan			(13,146)
Bank Loan		237,000
Cash used in financing activities		237,000	(13,146)
(Decrease) Iincrease in cash and cash equivalents in the year		1,039,694	131,245
Cash and cash equivalents at the beginning ofthe year		633,481	502,236
Total cash and cash equivalents at the end ofthe year		1,673,175	633,481

L	mted on a line by lin	mted on a line by lin	e basis. Wheal Martyn Trust is	shown separately as a r	estricted fund.
The summary	financial performance		ofthe charity alone is:
				2021	2020
				f.
Income Expenditure Net gain on	on charitable investment	activities		2,108,424 1,699,475	1,834,513 1,902,291
Net Income/(expenditure)				408,949	{67,778)
Total funds	brought forward			2,598,664	2,666,442
Total funds	carried forward			3,007,613	2,598,664
Represented	by;
Restricted income Unrestricted income funds				1,671,530 1,336,083	1,733,007 865,657
				3,007,613	2,598,664

Lessee -At 31 January 2021 the land and buildings and equipment	group had total commitments as follows:	under	non-cancellable operating	leases for
2021	Land and Buildings		Other	Total
		E	f.	f.
Less than one year		251	26,914	27,165
Two to five years		1,004	38,149	39,153
More than five years		1,766		1,766
Total		3,021	65,063	68,084
One ofthe operating leases expires	in 2042. From 2033the rent	will be	based on open market value.
2020		Land and Buildings Other		Total
			E
Less than one year		251	32,231	32,482
Two to five years		1,004	58,789	59,793
More than five years		2,018		2,018
Total		3,273	91,020	94,293

	Unrestricted Funds	Restricted Funds:	Restricted Funds:	Total 2021	Total 2020
		WMT	Other
		F
Grants received	5,439			6,439	12,822
Friends ofTrust / Gift Aid Donations Job Retention Scheme	17,800 51,413 55,487	18,995	6,847	17,800 77,255 55,487	12,225 9,938
	130,139	18,995	6,847	155,981	34,985

		Unrestricted Funds	Restricted Funds:	Restricted Funds:	Total 2021	Total 2020
		f	WMT	Other
Car parking receipts South West Water contract Recharges Forestry grants Grants		167,237 605,231 30,220 40			167,237 605,231 30,220 40	132,495 597,867 32,990 11,983
Miscellaneous income Timber sales Agricultural tenancies Wheal Martyn Trust	and licences	203,084 23,504 62,678	344,370	533,508	533,608 203,084 23,504 62,678 344,370	756,048 88,343 27,629 57,756 238,908
		1,091,994	344,370	533,508	1,969,872	1,989,019

ommercial	trading operations	—South West	Lakes Limited
				2021	2020
					F
Summary	profit and loss account
Turnover				1,479,176	1,790,990
Grant income				237,145
Bank Interest receivable				27
				1,716,348	1,790,990
Cost ofsales and administrative		expenses		1,432,514	1,752,570
Net profit				283,834	38,420
Amounted	gift aided to the charity			(283,834)
Corporation Tax Retained by the subsidiary					7,300 31,120
The assets and liabilities ofthe subsidiary			were:
Current assets				1,074,111	448,643
Creditors:	amounts falling due	within one year		(992,887)	(417,419)
Total net	current assets
				81,224	31,224
Creditors:	amounts falling due	over one year		(50,000)
Total net	assets			31,224	31,224

Summary Stateme	nt ofEinancia/ Activities
		Unrestricted	Restricted
		Funds	Funds	Total 2021	Total 2020
			f.	F
Incoming resources
Resources expended		301,530 253,465	158,185 163,216	459,715 416,681	444,524 417,065
Net income / (expenditure)		48,065	(5,031)	43,034	27,459
Transfer between	funds	(6,502)	6,502
Taxation		(442)		(442)
Total funds b/f Total funds c/f		90,059	1,547,226	1,637,285	1,609,826
		131,180	1,548,697	1,679,877	1,637,285
Summary Balance	Sheet
		2021		2020
		Consolidated	Charity	Consolidated	Charity
Tangible assets Current assets Creditors: amounts year	falling due within one	1,523,531 443,773 (100,427)	1,514,298 385,544 (91,537)	1,222,731 555,096 (140,542)	1,212,215 524,670 (124,577)
Creditors: amounts than one year	falling due after more	(187,000)	(150,000)
Total net assets
		1,679,877	1,658,305	1,637,285	1,612,308
Restricted funds Unrestricted funds Total funds		1,548„697 131,180	1,548,697 109,60&	1,547,226 90,059	1,547,226 65,082
		1,679,877	1,658,305	1,637,285	1,612,308

			Unrestricted Funds	Restricted Funds: WNIT	Total 2021	Total 2020
			E		F
Bank	interest	received	24		24	144
Rental	income		47,945		47,947	52,412
			47,969	2	47,971	52,556

	Public Access	Conservation and Education	Recreation	Total 2021	Total 2020
Employee costs Premises and grounds Machinery and equipment Administration Insurance / rent Depreciation and finance Support costs and	156,929 65,419 36,782 55,412 44,647 36,709	244,600 65,419 38,293 47,704 38,262 26,526	6,399 1,894 1,500 2,259 1,821 1,497	407,928 132,732 76,575 105,375 84,730 64,732	223,584 105,747 87,196 100,374 75,770 57,524
governance	62,720	73,005	2,435	138160	324,497
Total charitable activities Restricted funds Wheal Martyn Trust	458,618 219,221	533,809 256,802 306,876	17,805 125,809	1,010,232 601,832 306,876	974,692 837,290 257,294
	677,83S	1,097,487	143,614	1,918,940	2,069,276

			Public Access	Conservation and Education	Recreation	Total 2021	Total 2020
Unrestricted		Funds					f.
Costs Income			458,618 596,079	533,809 467,251	17,805 28,664	1,010,232 1,091,994	974,692 949,063
Net income	/	(cost)	137,461	(66,558)	10,859	81,762	(25,629)
Restricted	Funds
Costs			219,221	563,678	125,809	908,708	1,094,584
Income			282,898	593,964	1,016	877,878	1,039,956
Net Income/(cost)			63,677	30,286	(124,793)	(30,830)	(54,628)
Total			201,138	(36,272)	(113,934)	50,932	(80,257)

This i	s stated after charging:
		2021	2020
		f.
Depreciation Auditor's remuneration:		340,81?	323,121
audit	ofthe financial statements	19,060	15,275

Total sta
	2021	2020
	E
Wages and salaries Social security costs Pension payments	1,222,700 92,687 45,825	1,574,026 112,112 54,834
	1,361,212	1,740,972

			2021	2020
f70,000	to	f80,000	No. 1	No. 1
f80,000	to	890,000

ull-time equivalent employees, including casual and part tim	e staff was as follows:
	2021	2020
Charity - South West Lakes Trust - Wheal Martyn Trust Projects Bournemouth Leisure Gift shops Watersports	No. 28 9 4 3 6 14	No. 28 10 2 3 7 15
	64	65

Intangibl	e fixed a	ssets
Negative	goodwill	arising on the acquisition	ofWheal Martyn Trust
				2021	2020
					f
As at 1	February	2020		(472,486)	(519,735)
Written	back (note 1e)			47,249	47,249
As at 31January		2021		(425,23?)	(472,486)

		ease old Land and buildings	machine d v h I and ehicles	Fixtures, fittings and computers	Assets in course of construction	Total
Cost
At 31January	2020	3,858,728	1,832,281	782,085	30,416	6,503,510
Additions			60,129	26,394	34,879	121,402
Transfers		27,530	(14,651)	17,537	(30,416)
Disposals			(113,578)			(113,578)
At 31January	2021	3,886,258	1,764,181	826,016	34,8?9	6,511,334
Depreciation
At 1 February 2020		2,250,366	1,561,627	633,026		4,445,019
Charge for the year		158,525	96,642	39,776		294,943
Transfers		8,123	(6,632)	(1,491)
On disposais			(107,305)			(107,305)
At 31January	2021	2,41?,014	1,544,332	671,311		4,632,657
Net book value
At 31January	2021	1,469,244	219,849	154,705	34.879	1,878„677
At 31January	2020	1,608,362	2?0„654	149,059	30,416	2,058,491

3b Tangible fixed as	sets —group
Group	Leasehold land and buildings	Plant, machinery and vehicles	Fixtures, fittings and computers	Assets in course of construction	Total
Cost
At 1 February 2020	4,825,128	2,242,276	814,249	743,195	8,624,848
Additions	248,484	61,418	69,696	68,475	466,073
Transfer	740,309	(14,651)	17,537	(743,195)
Disposais		(113,576)			(113,576)
At 31January 2021	5,813,921	2,175,467	921,482	68,475	8,979,345
Depreciation
At 1 February 2020	2,732,054	1,953,628	657,944		5,343,626
Charge for the year	196,410	100,038	44,369		340,817
Transfer	8,123	(6,632)	(1,491)
On disposais		(107,305)			(107,305)
At 31January 2021	2,936,587	1,939,?29	700,822		5,577,138
Net book value
At 31January 2021	2,877,334	235,738	220,660	68,475	3,402,207
At 31January 2020	2,093,074	288,648	156,305	743,195	3,281,222

14 Investment	Property
		f
At 1 February Revaluation	2020	220,000
At 31January	2021	220,000

15Stocks
	Group	Charity	Group	Charity
	2021	2021	2020	2020
			f	E
Uniform Food Gifts	6,660 35,687		1,700 9,884 35,187	1700
Fish	50,642		35,566
Total	92,989		82,337	1700

Debtors
		Group	Charity	Group	Charity
		2021	2021	2020	2020
		E
Trade debtors		377,758	221,165	353,064	200,499
Amounts due	from subsidiary		463,522		172,211
Other Taxation and social security		255		7,796
Other debtors		8,467		5,897	88
Prepayments	and accrued income	454,573	243,317	637,991	264,140
		841,053	928,004	1,004,748	636,938

	Group	Charity	Group	Charity
	2021	2021	2020	2020
	E
Bank loans and overdraft
Trade creditors	706,404	424,126	474,844	323,066
Amount due from subsidiary		21
Other Taxation and social security	27,103	27,103	65,661	58,056
Other creditors and accruals	540,303	186,637	414,210	183,430
	1,273,810	637,887	954,715	564,552

Ye	ar ended 31Janua	ry 2021
18	Creditors: Amounts	falling due after more than one year
		Group	Charity	Group	Charity
		2021	2021	2020	2020
			F	F
Bank loan		237,000
		237,000

Unrestricted funds		Balance at 1 Feb 2020 828,909	Incoming resources f 3,000583	Outgoing resources 2530,157	Transfersl gains f 340,000	Balance at 31Jan 21 F 959,335
Designated funds
Property improvements		67,872			340,000	407,872
Total Unrestricted	funds	896781	3,000,583	2,530,157		1,387207

		Balance at 1 Feb 2020	Incoming resources	Outgoing resources	Balance at 31 Jan 2021
Restricted funds		E	E		f,
Wheal Martyn Trust (note	1b)	1,164,799	506,964	417,123	1,254,640
Other restricted funds
Fixed asset funds
Roadford Lakeside Stithians Project Kennick Project Colliford Project RDPE Outdoor 8 Active 8urrator Other funds		407,789 277,735 11,828 672,754 115,262 1,485,368	4,262 4,262	(39,130) (26,593) (1,825) (3,866) (52,828) 22,893 (147,135)	368,659 251,142 10,003 396 619,926 92,369 1,342,495
Roadford watersports SWW capital project work SWW SSSiproject INNS Project CS Burrator Forest CS Roadford Forest CS Wimbleball Forest CSVenford Forest Year ofGreen Action Biodiversity Improvements Fernworthy HLS Roadford Play Area Roadford Celebration Woodland		585 61,210 16,061 111,938 19,595 586 2,860 582	5,574 278,634 5,551 33,450 7,144 3,538 3,367 25,405 2,976 1,210	(216,685) (12,908) (5,687) (27,106) (6,979) (1,669) (4,745) (29,201) (11,013) (680)	6,159 61„949 53,853 10,374 6,344 165 1,869 (1,378) 82,737 33,987 2,882 4,070 582
Wimbleball Celebration Woodland		325			325
Skiability Crowdy Reservoir Stithians Play Area		14,528 14,422 328	5,839	(4,700)	9,828 20,261 328
Wimbleball Play Area Wimbleball Community Orchard		2,641 135			2,641 135
EA Fisheries Roadford Fly Fair			5,396 1,081	(892)	5,396 189
Burrator Education Project Burrator Catchment area Biosecurity and Freshwater	Planning	1,843	566 52,577 48,000	(58,534) (36,402)	2,409 {5,957) 11,598
Biodiversity Strategy			49,000	(37,460)	11,540
Blue Green Access Fishing Roadford HLS			6785	(36)	(36) 6,785
Total Other restricted funds		247,639	536,093	(454,697)	329,035

enhancements.	n er liv	. The remainin	g funds will sup	port future bi	odiversity
2020 Comparative funds note
Restricted funds	Balance at 1 Feb 2019 E	Incoming resources	Outgoing resources F	Transfers	Balance at 31Jan 20 f
Wheal Martyn Trust (note 1b)	1 090,091	503,773	429,065		1,164,799
Fixed asset funds
Roadford Lakeside Stithians Project Kennick Project Colliford Project RDPE Outdoor 8 Active Burrator Other funds	446,920 304,329 13,651 845,397 138,735 1,749,032	83,533 83,533	(39,131) (26,594) {1,823) (83,533) (172,643) 23,473 (347,198)		407,489 277,735 11,828 672,754 115,262 1,485,368
Roadford watersports SWW capital project work SWW SSSiproject INNS Project CS Burrator Forest CS Roadford Forest CSWimbleball Forest CSVenford Forest Year ofGreen Action Argal Play Area Biodiversity Improvements Siblyback Fernworthy HLS Roadford Play Area Roadford Celebration Woodland Wimbleball Celebration Woodland Skiability Crowdy Reservoir Stithians Play Area Wimbleball Play Area Wimbleball Community Orchard Roadford Fly Fair Burrator Education Project Total Other restricted funds Total Restricted funds Total funds	585 5,327 25,741 (626) 1,023 143 (20,667) 1,493 582 325 20,128 24,251 1,973 135 S55 150 1,810,550 2,900,641 3756,537	212,416 120,844 59,145 76,168 15,539 7,076 940 125,000 28,572 22,365 1,367 1,780 328 668 955 1,927 675,090 758,623 4,129,277	(217,743) (85,375) (42,458) {76,168) (15,539) (7,076) (940) (13,062) (1,023) (8,977) (143) (1,112) (6,446) (11,609) (2,188) 234 490,093 837,290 4091,227	846 278 1 124 1,124	585 61,210 16,061 111,938 19,595 586 2,860 582 325 14,528 14,422 328 2,641 135 1,843 247,639 1,733,007 3,794,587

0 Analysis ofgroup net assets betwe	en funds
	Unrestricted Funds	Designated Funds	Restricted	T t I F d
Fixed assets Investment Property Negative Goodwill	536,179 220,000		2,866,028	3,402,207 220,000
Cash at bank and in hand Other net current (liabilities)/assets Long term liabilities	1,014,901 (761,745) (50,000)	407,872	(425,237) 250,402 421,977 (187,000)	(425,237) 1,673,175 (339,768) (237,000)
Unrestricted funds comprise:	959,335	407,872	2,926,170	4,293,377
Free reserves	423,156	407,872		831,028
Fixed Asset Reserves
	536 179			536,179
	959335	407,872		1,367,207

020 Comparative group net assets bet	ween funds
	Unrestricted Funds	Designated Funds	Restricted	Total Funds
Fixed assets Investment Property Negative Goodwill Cash at bank and in hand Other net current (liabilities)/assets Long term liabilities	E 573,122 220,000 412,344 (376,558)	f. 67,872	2,708,100 (472,486) 153,265 508,928	f. 3,281,222 220,000 (472,486) 633,481 132,370
	828,908	67,872	2,897,807	3,794,587
Unrestricted funds comprise:
Free reserves	255,786	67,872		323,658
Fixed Asset Reserves	573,122			573,122
	828,908	67,872		896,780

Receipts fro	m SWW
		Limited	Trust	Total	Total
				2021	2020
Management Bournemouth Other	fee Leisure contract	288,232 6,693	F 611,328 668,237	f 611,328 288,232 674,930	E 603,567 307,599 489,616
Total		294,925	1,279,565	1,574,490	1,400,782
Payments to	SWW
Rent Other expenses		76,763 14,028	52,887 637	129,650 14,665	108,530 20,266
Total		90,791	53,524	144,315	128,796

					2021	2020
Net outgoing (incoming)	resources before transfers				E	F
					498,790	38,050
(Profit) / loss on disposal offixed assets Gain on valuation of Lidn Park					(6,188)	(9,580)
Interest /rents receivable Depreciation Negative goodwill written back Decrease/(Increase) in stocks (Increase)/Decrease in debtors Increase/(Decrease) in creditors					(47,996) 340,817 (47,249) (10,651) 163,694 319,095	(49,551) 323,121 (47,249) (19,835) 268,316 338,431
Net cash inflow from operating		activities			1,210,312	841,703
24 Reconciliation of net	cash	flow movement	to movement	in net funds
					2021	2020
(Decrease) / increase in Cash outflow from bank	cash in the period loans				1,039,694 0	K 131,245 13,146
Change in net funds Net funds at 1 Feb					1,039,694 633,481	144,391 489,090
Net funds at 31 January	2021				1,673,175	633,481
25 Analysis ofchanges	in net	funds
				1-Feb-20	Cash flows	314an-21
Cash in hand and at bank
				633,481	802,694	1,436,175
				633,481	802,694	1,436,175
Debt due within 1 year
Debt due after 1 year					237,000	237,000
				633,481	1,039,694	1,673,175