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Registered number: 4156143
Charity number: 1093301
BISHOPSLAND EDUCATIONAL TRUST
(A company limited by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
CONTENTS
Page
Roference and administrative details of the company. its Trustoes and advisers
Trustees. report
Independent exarninerfs report
Statement of financial activities
Balance shoet
Note5 to the financial statements
10-21

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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Trustees
H J Dellar, Chaimian
A Nugee
R van Rooijen
K Paynter
G Mclntosh
R Knott (appointed 7 September 2022)
J Gregory (appointed 7 September 20221
Company registered
number
4156143
Charity registered
number
1093301
Rogistered office
Bishopsland
Dunsden
Oxfordshire
RG4 9NR
Principal
Mrs P A Makower MCSD
Accountants
James Cowper Kreston Audit
Chartered Accountants
Reading Bridge House
George Street
Reading
RG1 8LS
Bankers
National Westminster B￿k PLC
18 Market Pla
Henley-on-Thames
Oxon
RG9 2AP
Solicitors
Lee Bdlon Monier-williatns
1 The Sanctuary
Westminster
London
SW1P3JT
Page 1

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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2022
The TTU5tees present their annual report together wth the financial statement5 of the company for the period 1
October 2021 to 30 September 2022. The knnual report serves the purposes of both a Trustees, report and
directors, report under company law. The Trustee5 confimi that the Annual report and financial statement5 of the
charitable company comply with the current statutory requirements, the requirements of the charitable companls
governing document and the provision5 of the Statement of Recommended Practice ISORPI applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FR￿102} leffeGtive 1 January 2019).
Since the company qualrfies as small under section 382 of the Companies Act 2006, the Strategic rewt
required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Objectives and activities
Policies and objectives
The Chartty's purposes are the provision of postgraduate training in the fine and applied arts and crafts to
persons who are in financial need and the assistancè in the establishment of such persons as artists, craftsmen
and designers. In furtherance of these objects it provides a wjslgraduate prograrnme in silversmithing and
jewellery.
The Charity seeks to be a Centre of Excellence. It requires high standards of endeavour and achievement from
all its participants.
In selling objectr.ves and planning for ath"vities, the Trusiees have given due consideration to general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running
charity IP82)'.
Achievements and performance
a. Key performance indicators
Bishopsland Educational Trusl has been founded to support prospective stlversmilhs and jewellers in the
establishment of their careers as self-employed makers. Funds provided lo the Trust are regarded as restricted rf
they are used directly or indirectly for this purpose. Where donors offer funds for other purposes they are
considered to be unrestricted and their use is to be for the general benefit of BET.
The financial statements reflect the ujrrent financial status of the Trust. Income received from donatlolls was
£91,133 12021= £244,938) of which £40.000 {2021.. £46.4941 was donated for The Programme. Income
generated from charitable acttvities for general use was £84.488 12021.. £70,561). Resources expended in the
year amounted to £218.00612021.. £198,822) of which £115,72612021= £123,080) was for restricted use. There
was a deficit of £2,09812021.' surplus £158,630) of charitable income over expenditure. The investments had an
unrealised loss of £5.772 which lead lo an overall deficit of £7,87012021.' suplus £194,258).
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Achievements and performance {continued)
b. Review of activities
Besides instruction in advanced silversmithing and jewellery techniques, Ihe prcgramme also provides an
oversight of the key business skills required lo wc4* as a self employed maker. such as business planning. sales
skills and the best approaches for costing and pricing wo￿. Residents are shown how to teach silversmithing
and they take part in teaching a 'Ring in a Day, course, with the aim that Bishopsland is equipping them to
generate income from a number of sources. induding potentially teaching. During the year Ring in a Day
COUTses were delivered- 11 December 2021 and 30 April 2022.
This was the first year post comd reslriclions that ran Mfjthout any changes to the schedule due to lock downs or
self isolation. There were isolaled incidents of Covid but the cohort were very sensible and continued to test and
isolate rf appropriate. There were nine residents vtho completed the full course. One person dropped out at
Christma5 due to health issues.
Because of this we delivered a full schedule of teachiThJ which encompassed 75 days lout of approx. 190
available leaching days} of fomial teaching through one-to-one and group tLrtorials, and Masterclasses.
Masterclasses were the most varied ever offered, including new areas of Niobium and more advanced sinkiThJ,
raising and forging. We continue to rely on our pool of regular tthors and master craftsmen bul during the year
also brought in fresh tutors.
The programme also encompassed four dedicated business development wortshops led by Dr Gordon Hamme
which prorripted the writing aiid critique of business cases and a strong focus on ensuring Residents knew, and
were prepared, for their next steps on leaving Bishopsland in August 2022. We were grateful that experts across
the sector gave their time and knomdedge to ensure the programme is well rounded, wth Goldsmiths, Cenler's
Costing & Pricing workshop, Curating Maslerclass delivered by Greg Parsons. and photography skills delivered
by Adshot. a leading photography studio.
Due to the end of covid restrictions, we were also able to pursue a full programme of exhibitions and
competitions. Work made during the year at Bishopsland and by our Fellows was exhibited al The Clothworkers.
Hall in November 2022, which proved an extremely popular venue wtth a unique display of over 100
contemporary silversmithing and jewellery pieces. We exhibited at the Festival of Silver al Wisley RHS in April
and at Chelsea Town Hall in May with Craft in Focus.
The final exhibitKsn of the year was the annual end of year Retrospective where a series of commendations and
awards were given.
The charity has accreditation from the Brits'sh AcCr￿ltation Council No. 001070, enabling Bishopsland to enrol
Overseas Students for six months at a time.
Bishopsland is a place where young silversmiths and jewellers can thrive and gain confidence before Ihey set off
on a career Ihat at tiines can be rauier insular. We remain inciedibly grateful for the generous finaiicial SUPFxKi
of so many individuals and institutions which allow&J nine resident makers to spend a year refining their skills.
develowng their sWe and laying down concrete plans for the fU￿re. This cohort made the most of the
opportunities open lo them and have forged friendships and netsvorks that wll hopefully last a lrfelime. One of the
cohort (Jonny Stokes) remained at Bishopsland as a paid Artist-in-Residence for 2022-23.
On 2 May 2013 HRH the Prince of Wales presented Bishopsland wqth the inaugural National Craft Skills Award,
to recognise and celebrate 'Encouragement of Craft Skills in an Educational Seth"ng'.
On 24 November 2015 the Raddiffe Tnjst awarded Bishopsland's Principal, P A Makower, The Balfour of
Burleigh Tercentenary Prize (for Achievement in Crafts).
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Achievements and performance {continued)
c. Fundraising activities and income generation
Identi￿ng sources of revenue remained a key objective of the programme as Residents often join following an
under-graduate degree and most have a degree of student debt. During the year selling opportunities wl)ere
Bishopsland funds the exhibition fee, sland and associated marketing gives Residents the ability to meet
potential buyers in person and understand how their work resonates in Ihe market. As the year progressed, and
the cost of living rose, we noticed a decline in sales but the year started very strongly at the Clothworf(ers'
Exhibition and finished strongly at Retro. The Trust generates a percentage of all sales and this enables it to
fund exhibition costs. The online shop {wMv.bishopsland.org.uklshopl continues to be refreshed wth new items
and several social media campaigns were run through the year lo drive clicks land purchases) on the sile.
d. Awards and Prizes
The annual Arts Society competition was held at Bishopsland in January 2022 wth Isabelle Kelly and Amber
Doughty wnning first and second prize. The annual Jacob's the Jewellers Emerging Maker competition took
place in June and we were delighted that Yuyi Cheng and Henry Ball took away top prizes. This was the second
year of the Jane Goodman prize
a £1000 prize for the silversmith who has shown most aplilude and
development during the year. Isabella Kelly was a most deserying recipient. The prize can be used for any
purpose that the resident identifies. For example it could cover additional tuition, purchase of Iwls, studio rent
etc. Residents are asked to submit their plans for using the prize money and their input, along wth the tutors
assessment of their progress during the course. is assessed by the staff and Trustees of Bishopsland.
The Ttvst 15 gralefvl for 5pof150T5hip and hdp from rnany SOU￿e5, including private donoT5. We would esperially
like lo mention The Arts Society Chiltern Hills Area, The Arts Society Goring. The Arts Society Ballinger, The
Clothworkers, Company, The Garfield Weston Trust, Gilbert & Eileen Edgar Foundation, Gold and Silver WyTe
Drawers Company, The Goldsmiths. Cenlre. The Pearson Silver Foundation, PF Charitable Trust and South
Square Trust. The trustees are very conscious that it is impossible to name all those generous friends and
sponsors who help Bishopsland in many ways and in particular enable us to offer bursaries to applicants for the
course who would not be othewse able to afford the cost of fees and precious metals.
Financial review
. Going concem
After making appropriate enquiries, the Trustees have a reasonable exF*Ctalion that the company has adequate
resources to continue in operats'onal existence for the foreseeable future. For this reason, they continue lo adopt
the going concern basis in preparing the financial ststements. Further details regarding the ajoption of the going
concem basis can be found in the accounting wlicies.
b. Reserves policy
ReseNes are reviewed regulady and adapted to m￿t any changing situation. The Revenue Resetve considers
the need to provide ongoing continuation of the course should there be a hiatus once the course has started.
This could be due to a change in policy by existing fundeTS. additional tutoring, housing requirements.
administrational sUPPCrt or a general decline in eamed income due to a variety of reasons. Thi5 is especially
relevant given the heatth and safety issues related to silversmithing and jewellery making. The Revenue Reserve
wll remain at £150.000.
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Structure. govemance and management
a. Constitution
Bishopsland EducatiC￿al Trust is registered as a charitable company limited by guarantee and was set up by a
Trust deed.
b. Methods of appointment or election of Trustees
The management of the company is the responsibilty of the Trustees are elected and co-opted under the
tsrms of the Trust deed.
. Organisational structure and decisionryrnaking policies
The Company look over the running of the Bishopsland Postgraduate Programme from P & O Makower, who
founded it in 1993. The Company has seven members as listed on page 1. It is limited by guarantee and was
incorporated on 8 February 2001. It is registered at Companies House No. 4156143.
The Charty was registered with the Charity Commission on 6 August 2002 No. 1093301. The trustees who have
served during the period are set out on page 1. AJI Trustees are also Directors of the Company and they are
appointed in accordance with the requirements of the Companies Act 2006. The Trustees meet as required
throughout the year lo conduct the business of the Charity.
In the event of a Mqnding up or dissolution the liability of the members is limited to £1 eath and any property
remaining after all the debts and liabilits'es have been discharged shall be given to another Charity or charities
having similar objects. such Charity or charities lo be as chosen by the members.
The day to day running of the Charity is managed by Pope Makower. Claire Murdoch is the ExeC￿1ve Direct￿.
During the year in question part lime tutors were Chris Green MA. Nan Nan Liu MA RCA and Peter Musson MA
RCA. Master¢lasses were given by Rod Kelly MA RC& Sheila McDonald MA RCA, Angela Cork MA RCA Nan
Nan Liu MA RCA and by tutors. Part-time Administratrve staff were Emma Boutell.
d. Policies adopted for the induction and training of Trustees
There are no fomial policies for training trustees. All trustees are professionals in their own area and are from
time to lime provided wqth copies of the charity commission publications on the responsibilities of trustees. New
trustees are inducted by the chaimian and provided Mqth copies of the most recent accounts and trustee
minutes. They aTe supported in Iheir role by the conts'nuing trustees.
e. Risk management
The trustees keep the risks asscciated with Bishopsland Continually under review. The key risk al present is of
inadequate funding being available for the programme due to the impact of COVID 19. Policies are in place to
ensure that the risk of this occurring is minimised. Health and safety iSSLtes have also been revtewed.
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BISHOPSLAND EDUCATIONAL TRUST
(A company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Stsloment of Trustees. responsibilities
The Trustees (who are also the directors of the company for the purposes of company law) are resp(￿sIble fc
preparing the Trustees. report and the financial statements in accordance wth applicable law and United
Kingdom Accounting Standards {Unrted Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each ffinancial year. Under company law.
the Trustee5 mu51 not approve the financial statements unless they are satisfied that they give a true a￿1 fair
view of the State of affairs of the company and of its incoming resources and application of resources, including
115 income and expenditure, for that period. In preparing these financial statements. the Trustees are required to:
select surtable accounting policies and then apply them consistenHy,'
observe the methods and principles of the Charities SORP {FRS 102).,
make judgments and accounting estimates that are reasonable and prudent-
state whether applicable UK Accounting Standards {FRS 1021 have been followed, subject to any material
departures disclosed and explained in the finanaal statements..
prepare the financial statements on the g(Mng concern basis unless it is inappropriate to presume that the
company wll continue in business.
The Trustee5 are responsible for keeping adequate accounting records that are sufficient to show and explain
the company's transactions and disclose with reasonable accuracy at any time the financial position of the
company and enable them to ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularrhes.
Approved by order of the members of the board of Trustees and signed on their behalf by..
H J Dellar
Chair of Trustees
Dale= 23 March 2023
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Independent Exarninerfs Report to the Trustees of Bishopsland Educational Trust {'the
companrf)
report lo the charity Trustee5 on my examination of the account5 of the company for the year ended 30
September 2022.
Responsibilities and Basi5 of Report
As the Trustees of the company land its directors for the purposes of company lawl you are responsible for the
preparation of the accoLtnls in accordance wqth the requirements of the Companies Act 20061'the 2006 Act'i.
Having s*isfied myself that the accounts of the company are not required lo be audited under Part 16 of the
2006 Act and are eligible for IndeF￿ndent examinats'on, I report in respect of my examir¢ation of the companys
accounts carried out under section 145 of the CharitEs Act 2011 I'lhe 2011 Acl'l. In carrying out my examination
I have followed the Directicrf)s given by the Charity Commission under section 145(5llb} of the 2011 Act.
Indapondant Examiners Statsment
I have completed my examinatiC￿. I confimi that no matter5 have come to my attention in ¢)Jnnection with the
examination gtving me cause lo believe=
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act
or
the accounts do not accord wth those records" or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a Irue and fair. view which is not a matter considered as part of
an independent examination-, or
the accounts have not been prepared in accordance Mqth the methods and piinaples of the Statement of
Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their
accounts in acccfdance with the Financial Reporting Slandard applicable in the UK and Republic of
Ireland IFRS 102)].
I have no concerns and have come across no other matters in connection with the examination to
attention should be drawn in this report in order to eTh3ble a proper understanding of the accounts to be reached.
Signed:
Dated.. 24 March 2023
Darren O'connor Bsc IHonsl FCCA ACA (Senior Statutory Auditor)
Jam8s Cowper Kreston Audit
Chartered Accountants
Reading Bridge House
George Street
Reading
RG18LS
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Total
funds
2021
Note
Income from:
Donations and legacies
Charitable actimties
4,933
84,488
40,287
86,200
91.133
84,488
40.287
244,938
70,561
33,169
8.844
Investments
Other income
Total income
129.708
86.200
215.908
357.512
Expenditure on:
Raising funds
Charitable actimties
20,703
95.023
20,703
197.303
19,730
179.152
102,280
Total oxponditure
102.280
115.726
218,006
198,882
Net incom8llexpenditure) before net
{lossesllgains on investments
Nel Ilosses)Igains on investments
27,428
(5,7721
129.526)
12.0981
15.7721
758,630
35,628
Net incomellexpenditure)
Transfers betrNeen funds
21,656
145.5431
129,526)
45,543
17,8701
194,258
16
Not movam8nt in funds
123.8871
16.017
17,8701
194,258
Reconciliation of funds:
Total funds brought forward
Nel movement in fund5
481,485
123,8871
167,948
16.017
649,433
17.8701
455, 175
194.258
Total funds carried forward
457.598
183.965
641,563
649,433
The Statement of Financial Athvrties includes all gains and losses recognised In the year.
The notes on pages 10 to 21 form part of these finan￿al statements.
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BISHOPSLAND EDUCATIONAL TRUST
(A company limited by guarantee)
REGISTERED NUMBER: 4156143
BALANCE SHEET
AS AT 30 SEPTEMBER 2022
2022
2021
Note
Fixed assets
Tangible assets
12
161.163
179.333
161.163
179.333
Current assets
Oebtors
13
42.503
353.241
158.978
32.587
309.013
173,616
Investments
14
Cash at bank and in hand
554,722
515,216
Creditors= amounts falling due wthin one
year
15
(74.3221
(45. 116)
Not current assets
480.400
470. It
Total net assets
641.563
649,433
Charity funds
Restricted funds
16
183.965
457.598
167,948
481,485
Unrestricted funds
16
Total funds
641.563
649.433
The company wa5 entitled to exemption from audii under Section 477 of the Companies Act 20C6.
The members have not required the company to obtain an audit for the year in question in accordance with
section 476 of Companies Act 2006.
The Trustees ackn￿edge their responsibilib.es for comp￿"ng with the requirements of the Act wth respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordan￿ wrth the pr()visIo￿ applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
H J Dellar
Chair of Trustees
Dale: 23 Marth 2023
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
General inforrnation
Bishopsland Educational Trust is registered as a charitable company limited by guarantee in England and
Wales and was sel up by a Trust deed. The registered office address is Bi5hopsland. Dun5den,
Oxfordshire. RG4 9NR.
Accounting policies
2.1 Basis of preparaiion of financial statements
The financial statements have been prepared in accordance wtth the Charitie5 SORP (FRS 1021
Accounting and Reporbng by Charities= Statement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 (effective 1 January 20151, the Financial Reporting Standard
applicable in the UK and Republic of Irel￿d IFRS 1021 and the Companies Act 2006.
Bishopsland Educational Trust meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless othepmse stated in
the relevant accounting policy.
2.2 Incom8
AJI income is reccxjnised once the o)mpany has entitlement to the income. it is probable that t
income Mqll be received and the amount of income receivable can be measured reliably.
Other income is recognised in the period in which it is receivable and to the extent the gcods have
been provided or on completion of the service.
2.3 Exponditure
ExPer￿[lUre 15 recognised once there is a legal or constructive obligation lo transfer economic benefit
to a third party, it is probable that a transfer of economic benefits will be required in set￿ement and
the amount of the obligation can be measured reliably. Expenditure is classified by actiwly. The costs
of each actiwty are made up of the total of direct costs and shared costs, induding support costs
involved in undertaking each acliMty- Direct costs attributable to a single acliwty are allocated directly
to that activity. Shared costs wthich contribute to more than one activity and support costs vAiich are
not attributable lo a single activity aTe apportioned befften those activities on a basis consistent
the use of resources. Central staff costs are al￿ated on the basis of time spent, and depreciation
charges allocated on the po￿On of the asset's use.
Expenditure on charitable activities is In￿rred on directly undertaking the activilies Nthich further the
company'5 0bjeGtives. a5 well as any a5s0cÉated 5LlPPOrt G05ts.
AJI expenditure is inclusive of Irrecoverab￿ VAT.
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the company,. this is normally upon notffication of the interest paid or payable by the
institution wth whom the funds are deposited.
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Accounting policie5 Icontinuedl
2.5 Tangible fixed a55ets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model. tangible
fixed assets are measured at GOSt less accumulated depreGiation and any accumulated impaimient
losses. All costs incurred to bring a tangible fixed asset into ils intended working condition should be
included in the measurement of c05t.
Depreciation is charged so as to allocate the cost of tangible f￿ed assets less their residual value
over their estimated useful INes, using the straight-line method.
Depreciation is provided on the followThJ bases:
Plant and machinery
Fixtures and frttings
- 25% on cost
- 5% on cost
2.6 Debtors
Trade and other debtors are rewgnised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand indudes cash and short-temi highly liquid investments wth a short maturty
of three months or less from the date of acquisition or opening of the depjsit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilits'es are recognised at the amount that the company antiapales it will pay to settle Ihe debt or
the amount it has received as advanced payments the goods or services it musl provide.
Provisions are measured at the best estimate of the amounts required to settle the obligatic￿. Where
the effect of the lime value of money is rnaterial. the provision is based on the present value of those
amounts, discounted at the pre-tax di5CDUnt rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of financial activities as a finan￿ cost.
2.9 Financial instruments
The company onty has financial assets and financial liabilities of a kind that qualrfy as basic financial
instruments. Basic financial instruments are inib.ally recognised at lransacb.on value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Accounting policie5 Icontinuedl
2.10 Fund accounting
General funds are unre51ricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of Ihe company and vthiGh have not been designated for other
purposes.
Restricted funds are funds ￿lch are to be used in accordance with specrfic restrictions imposed by
donors or which have been raised by the company for particular purposes. The costs of raising and
administering such funds are charged against the SFecific fund. The aim and use of each restricted
fund is set out in the r￿teS lo the financial slatemenls.
Investment income. gains and losses are allocated to the appropriate fund.
Income from donations and legacies
Unrestricted Restricted
funds
funds
2022
2022
Total
funds
2022
Total
funds
2021
Donations
General Donations
The Programme
Bursaries
2,435
33,700
40,000
12,500
36,135
40,000
12,500
2,498
784,354
46,494
12,900
1. 190
Friends of Bishopsland
2,498
Total 2022
4,933
86,200
91.133
244,938
Total 202t
127,544
117,394
244,938
Income frorn charitable activities
Unrestricted
funds
2022
Total
funds
2022
Total
funds
2021
Commission sale5
38,232
46,256
38,232
46,256
19.411
51,150
Workshop fees
Total 2022
84.488
84.488
70,561
Total 2021
70,561
70,56t
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Investmenl income
Unrestricted
funds
2022
Total
funds
2022
Total
funds
2021
Rental income
Investment income
35.407
4.880
35.407
4.880
30.648
2.510
11
Interest income
Total 2022
40,287
40,287
33,169
Total 2021
33,169
33,169
Expenditurn on raising funds
Fundraising trading expenses
Restricted
funds
2022
Total
funds
2022
Total
funds
2021
Allocated centrally incurred fundraising and govemance
costs
20.703
20.703
19.730
Total 2021
19.730
19,730
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Analysis of expenditure on charitable activitie5
Summary by fund type
Unrestricted Restricted
funds
funds
2022
2022
Total
2022
Total
2021
The Programme
102,280
95.023
197,303
179.152
Total 2021
75,804
103,348
179, 152
Analysis of expenditure by activities
Support
costs
2022
Total
funds
2022
Total
funds
2021
Direct costs
2022
The Programme
139.052
58.251
197,303
179.152
Totsl 202t
114,334
64.818
179, 152
Analysis of direct cosis
Total
funds
2022
Total
funds
2021
Staff costs
Exhibition costs
17,760
17,316
24.189
2.943
21,277
9,053
8,034
11,523
26,957
13,560
4. 181
16,319
6,167
12,627
12,569
1,367
4,044
43.5(Kl
Maslerclasses
Admin support
Commission payabie
Tutors. fees and salaries
Materials, tool hire and maintenance
Professional fees
Bursary fund payments
139,052
114,334
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Analysi5 of expenditure by activities {continued)
Analysis of support costs
Total
funds
2022
Total
funds
2021
Staff cost5
Depreciation
Rent
Admin support
utility expense
Insurance
3,946
18,170
15.155
654
3.014
17.565
15.000
1.371
13,293
834
5,751
1,098
1,010
1,009
Telephone
Post and sLitsonery
Travel and subsistence
Sundry expenses
Hospitality
IT cost5
1.427
694
li
870
1.009
299
1,599
7.681
1.417
760
303
4.087
5,053
Govemance costs
58,251
64,818
Staff costs and admin support have been allocated 45% fundraising to The Programme, 45% direct costs
on The Programme and 100kn to support costs.
Indepondant examin6Vs remunaration
The independent examinerfs remuneration amounts to an independent examiner fee of £1,008 12021
£9(X)l.
10.
Staff costs
2022
2021
Wages and salaries
39.466
30.137
39,466
30,137
The average number of persons employed by Ihe company during the year was as follows..
2022
No.
2021
No.
Employees
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
10.
Staff costs (continued)
No emptoyee re￿iVed remuneration amounting to more than £60,000 in either year.
11.
Trustees. remuneration and oxponses
During the year. no Trnstees received ary remuneration or other benefits (2021- £NIL).
During the year ended 30 September 2022. no Trustee expenses have been incurred (2021- £NIL).
12.
Tangible fixed assets
Plant and Improvernents
machinery
lo property
Total
Cost or valuation
At 1 October 2021
28,509
275.605
304,114
At 30 September 2022
28.509
275.605
304,114
Depreciation
At 1 October 2021
Charge for the year
24.032
4.389
100.749
13.781
124,781
18,170
At 30 September 2022
28.421
114.530
142,951
Net book value
At 30 September 2022
161.075
161,163
At 30 Septamber 2021
4,477
174,856
179.333
13.
Debtors
2022
2021
other debtors
40,967
1,536
32,587
PrepayTnents and accrued income
42,503
32,587
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
14. Current a55et investments
2022
2021
Listed investsments
353.241
309,013
15. Creditors: Amounts falling due within one year
2022
2021
other taxation and ￿la1 security
Other creditors
Accruals and deferred income
1,082
5,158
68,082
10.983
34.133
74,322
45.116
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
16. Statement of funds
Statement of funds - current year
Balance at
Balance at 1
October
2021
Transfers
inlout
Gainsl September
(Losses)
2022
Incorne Expenditure
Unrestricted
funds
General Funds-
all fvnds
481.485
129.708
{102.280)
(45.543)
(5.772)
457,598
Restricted
funds
The Programme
Bursaries and
grants
Development-
Buildings
Bookbinding
Study
Website
40,000
{85,5431
45.543
46,200
{20,052)
26.148
112.550
19,325)
103,225
5,000
600
5,000
600
Maintenance
Maintenance -
Driveway
33.877
33,877
15.921
(8061
15,115
167.948
86,200
1115.726)
45.543
183,965
Total of funds
649.433
215.908
{218.006)
(5.772)
641,563
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
16. Statement of funds (continued)
Statement of funds - prior year
Balance a(
30
September
2021
Balance al
t October
2020
Transfers
in/oue
Gains/
(Losses)
Income Expenditure
Unrestricted
funds
General Funds-
all fvnds
333,300
240,118
f75,802)
{51,759)
35,628
481,485
Restricted
funds
The Programme
Bursaries and
grants
Development-
Buildings
Bookbinding
s￿(ty
Website
46,494
(67,653)
21,159
12,900
(43,500)
30,600
121,875
(9,325)
112.550
5.000
3,000
33,877
5.000
600
(2,400)
Maintenance
33,877
Maintenance -
Driveway
t6,123
(202)
15,921
121,875
117.394
(123,080)
51,759
167.948
Total of funds
455, 175
357,512
(198,882)
35,628
649,433
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
17.
Summary of funds
Summary of funds - current year
Balance at
Balance at 1
October
2021
Transfers
inlout
Gainsl September
(Losses)
2022
Incorne Expendtture
General funds
481.485
167.948
129.708
86,200
{102.280)
{115.T26)
(45.543)
45.543
(5.772)
457,598
183,965
Restricted funds
649,433
215,908
1218,0061
(5,772)
641,563
Summary of funds - prior year
Balance at
30
Septemb
2021
Balanc8 al
l Octobe
2020
Transfers
in/oul
Gains/
(Losses)
Income Expenditure
General funds
Restricted fund5
333,300
121,875
240,118
117,394
(75,802)
(123,080)
(51, 759)
51,759
35,628
481,485
167.948
455, 175
357,512
(198,882)
35,628
649,433
18.
Analysis of net assets between funds
Analysis of net assets between funds- current year
Unrestricted Restricted
funds
funds
2022
2022
Total
funds
2022
Tangible fixed assets
Current assets
42.822
489,098
174,3221
118,341
65,624
161,163
554,722
(74,3221
Creditors due within one year
Total
457,598
183,965
641,563
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BISHOPSLAND EDUCATIONAL TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
18.
Analysi5 of net assets between funds {conlinuedl
Analysis of net assets between funds- prior year
Unrestricted
funds
2021
Restricted
funds
2021
Total
funds
2021
Tangible fixed assets
Current assets
Creditors due Mfjthin one year
50,861
475, 740
(45,116)
128,472
39.476
179,333
515.216
(45.116)
Total
481.485
167,948
649,433
19. Summary of funds availabl6 for axpenditurtr
Annual Unrestricted
Reserve
Restricted
Total
General funds
Restricted funds
150,000
307,598
457,598
183,965
183.965
Total
150,000
307,598
183,965
641,563
Rolated party transactions
Pope and Oliver Makower are unpaid employees of Bishopsland Educational Trust. Bishopsland
Education TTU5t leases property from them. They are also the parents of fomier trustees Mrs J Mather
and Mr W Makower.
The financial transactions with the company are as follows..
2022
2021
Rent paid to Pope and Oliver Makower
Capital contribution from Pope and Oliver Makower
{15.155}
(15,000)
S0,IX
{15,155)
35,000
Included within Other debtors is an amount of £39,792 12021.. £31,612) owed by Pope and Oliver
Makower to Bishopsland Educational Trust.
Page 21