| Page | ||||
|---|---|---|---|---|
| Charity Reference and Administrative | Details | |||
| Trustees Annual Report |
||||
| Independent | Examiners | Report | ||
| Consolidated | Statement | of Financial | Activities | 10 |
| Consolidated | Balance Sheet | |||
| Charity Balance Sheet |
12 | |||
| Statement of |
Cashflows | 13 | ||
| Notes to the | Financial Statements | 14 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Note | Unrestricted | Restricted | Total Funds | Total Funds | ||
| Funds | Funds | |||||
| Income and endowments | from: | |||||
| Government grants: JRSScheme |
35,376 | 35,376 | 38,701 | |||
| WMBC Covid support | 37,100 | 37,100 | 25,000 | |||
| Donations and legacies |
18,770 | 18,770 | 93,840 | |||
| Charitable activities |
3,000 | 3,000 | 56,610 | |||
| Other trading activities |
54,459 | 54,459 | 70,670 | |||
| Other | 917 | 917 | 300,015 | |||
| Total income and endowments | 149,622 | 149,622 | 584,836 | |||
| Expenditure on: |
||||||
| Charitable activities |
7 | 103,953 | 103,953 | 280,346 | ||
| Total expenditure | 103,953 | 103,953 | 280,346 | |||
| Net losses on investments | 16 | (2,398,000) | (2,398,000) | (340,000) | ||
| Net income / (expenditure) | 45,669 | (2,398,000) | (2,352,331) | (35,510) | ||
| Other recognised gains/(losses): |
||||||
| Losses on revaluation offixed assets |
||||||
| Net movement in funds |
45,669 | (2,398,000) | (2,352,331) | (35,510) | ||
| Reconciliation offunds: |
||||||
| Total funds brought forward |
328,785 | 23,314,000 | 23,642,785 | 23,678,295 | ||
| Total funds carried forward | 374,454 | 20,916,000 | 21,290,454 | 23,642,785 |
| Note | 2021 | 2020 | |||
|---|---|---|---|---|---|
| f | E | ||||
| Fixed Assets | |||||
| Tangible assets | 14 | 381,918 | 382,557 | ||
| Investments | 16 | 20,916,000 | 23,314,000 | ||
| 21,297,918 | 23,696,557 | ||||
| Current Assets | |||||
| Debtors | 17 | 34,299 | 62,565 | ||
| Cash at bank | and | in hand | 23,304 | 542 | |
| 57,603 | 63,107 | ||||
| Creditors | |||||
| Amounts falling due within one year |
18 | (6,067) | (90,879) | ||
| Net current | assets/(liabilities) | 51,536 | (27,772) | ||
| Total assets | less current liabilities | 21,349,454 | 23,668,785 | ||
| Creditors | |||||
| Amounts falling due after more than one |
19 | (59,000) | (26,000) | ||
| year | |||||
| 21,290,454 | 23,642,785 | ||||
| Charity Funds | |||||
| Unrestricted | funds | 20 | 374,454 | 328,785 | |
| Restricted funds | 20 | 20,916,000 | 23,314,000 | ||
| 21,290,454 | 23,642,785 |
| Charity Balance Sheet | Charity Balance Sheet | |||
|---|---|---|---|---|
| Year ended 31stAugust 2021 | ||||
| Note | 2021 | 2020 | ||
| Fixed Assets | ||||
| Tangible assets | 15 | 381,918 | 382,557 | |
| Current Assets | ||||
| Debtors | 17 | 75,453 | 89,914 | |
| Cash at bank and | in hand | 23,293 | 505 | |
| 98,746 | 90,419 | |||
| Creditors | ||||
| Amounts falling due within one year |
18 | (6,067) | (90,879) | |
| Net current assets/(liabilities) | 92,679 | (460) | ||
| Total assets less current liabilities | 474,597 | 382,097 | ||
| Creditors | ||||
| Amounts falling due after more than one year |
19 | (59,000) | (26,000) | |
| 415,597 | 356,097 | |||
| Charity Funds | ||||
| Unrestricted funds |
415,597 | 356,097 | ||
| Restricted funds | ||||
| 415,597 | 356,907 |
| Note | 2021 | 2020 | |||
|---|---|---|---|---|---|
| Net cash flows from operating activities |
22 | 2,419,845 | (1,920,718) | ||
| Cash flows from investing | activities | ||||
| Purchase oftangible fixed |
assets | 14 | (2,457) | ||
| Disposal oftangible fixed |
assets | 14 | (2,397,083) | 1,925,300 | |
| Cash flows from financing | activities | ||||
| Interest paid | 13 | (2,383) | |||
| Increase/(decrease) in cash and cash |
|||||
| Equivalents in the year |
22,762 | (258) | |||
| Cash and cash equivalent | at 1September 2020 | 542 | 800 | ||
| Cash and cash equivalents | at 31August 2021 | 23,304 | 542 |
| Income from | donations | and legacies | |||||
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| E | |||||||
| Donations | |||||||
| Unrestricted | —General | 18,770 | 93,840 | ||||
| All ofthe above income | was attributable | to unrestricted | funds. | ||||
| 3. | Income from | charitable | activities | ||||
| 2021 | 2020 | ||||||
| E | E | ||||||
| Restaurant | 33,610 | ||||||
| Ladder School | 3,000 | 23,000 | |||||
| Total | 3,000 | 56,610 | |||||
| All ofthe above income | was attributable | to unrestricted | funds. |
| come from trading activiti | es | |||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| E | E | |||||
| Property cost recharges | 24,265 | 33,259 | ||||
| Support cost recharges | 26,602 | 29,976 | ||||
| Other | 3,592 | 7,435 | ||||
| Total | 54,459 | 70,670 | ||||
| All ofthe above income was attributable | to unrestricted | funds. | ||||
| her income | ||||||
| 2021 | 2020 | |||||
| E | f | |||||
| Profit on sale of Goldmine | 300,015 | |||||
| Profit on sale oftangible | fixed assets | 917 | ||||
| Tota I |
917 | 300,015 | ||||
| fNil (2020:6300,015)ofthe above income was attributable | to restricted | funds. |
| nalysis ofexpenditure on charitab |
le activities |
||
|---|---|---|---|
| Direct | Support | Tota I |
|
| Costs | Costs | ||
| E | E | E | |
| Property | 28,316 | 41,065 | 69,381 |
| Support | 30,228 | 2,318 | 32,546 |
| Ladder | 1,950 | 76 | 2,026 |
| Total | 60,494 | 43,459 | 103,953 |
| haritable act |
iv | ities c | ost | ||||
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| f | |||||||
| Purchases | 15,449 | ||||||
| Wages 8 salaries | 52,394 | 165,484 | |||||
| Service charges | 8,921 | ||||||
| Rent, rates | 8 | water | 4,865 | 22,655 | |||
| Insurance | 5,153 | 6,918 | |||||
| Heat & light | 6,334 | 18,021 | |||||
| Repairs & maintenance | 7,298 | 4,451 | |||||
| Advertising | &marketing | 2,378 | 3,775 | ||||
| Post, print & | stationery | 7,850 | 7,443 | ||||
| Telephone | 6,055 | 7,198 | |||||
| Travel, subs | & entertaining | 8 | 2,386 | ||||
| General expenses | 594 | 2,804 | |||||
| Legal &, professional | fees | 5,672 | 3,592 | ||||
| Loan interest | 8 charges | 2,383 | |||||
| Depreciation | 639 | 1,307 | |||||
| Governance | 4,713 | 7,559 | |||||
| Tota I |
103,953 | 280,346 | |||||
| Governance | costs | ||||||
| 2021 | 2020 | ||||||
| E | E | ||||||
| Professional | fees | 228 | 65 | ||||
| Independent | Examination | Fees | 2,500 | 3,500 | |||
| Miscellaneous | 1,985 | 3,994 | |||||
| Total | 4,713 | 7,559 | |||||
| Net income | for year | ||||||
| Net income | is | stated | after | charging: | |||
| 2021 | 2020 | ||||||
| E | E | ||||||
| Depreciation | oftangible assets | 639 | 1,307 | ||||
| Loss on fair | value movement | of investments | 2,398,000 | 340,000 | |||
| Profit on sale oftangible | assets | 917 | 300,015 |
| Staff costs and employee | Staff costs and employee | benefits | |||||
|---|---|---|---|---|---|---|---|
| The average number | ofemployees | and | full time equivalent | (FTE) during the year was as follows: | |||
| 2021 | 2021 | 2020 | 2020 | ||||
| Number | FTE | Number | FTE | ||||
| Charitable activities |
4 | 3 | 11 | 9 |
| The total staff costs and employee benefits wer |
e as follows: | |
|---|---|---|
| 2021 | 2020 | |
| E | E | |
| Wages and salaries | 50,800 | 148,482 |
| Socia I security costs |
171 | 8,490 |
| Pension costs | 1,423 | 4,064 |
| Redundancy | 4,448 | |
| Tota I | 52,394 | 165,484 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| E | E | ||||
| Bank | loans | and | overdrafts | 2,383 |
| 14. | Tangible Fixed Assets —Group |
|||
|---|---|---|---|---|
| Land & | Plant & |
Tota I |
||
| Buildings | Machinery | |||
| f | f | f | ||
| Cost | ||||
| At 1"September 2020 | 593,477 | 183,544 | 777,021 | |
| Disposals | (8,812) | (8,812) | ||
| At 31"August 2021 | 593,477 | 174,732 | 768,209 | |
| Depreciation At 1"September 2020 |
213,477 | 180,987 | 394,464 | |
| Charge for year | 639 | 639 | ||
| Depreciation on disposal |
(8,812) | (8,812) | ||
| At 31"August 2021 | 213,477 | 172,814 | 386,291 | |
| Net BookValues | ||||
| At 31"August 2021 | 380,000 | 1,918 | 381,918 | |
| At 31"August 2020 | 380,000 | 2,557 | 382,557 | |
| 15. | Tangible Fixed Assets —Charity | |||
| Land & | Plant & |
Total | ||
| Buildings | Machinery | |||
| f | f | |||
| Cost | ||||
| At 1"September 2020 | 593,477 | 183,544 | 777,021 | |
| Disposals | (8,812) | (8,812) | ||
| At 31"August 2021 | 593,477 | 174,732 | 768,209 | |
| Depreciation At 1"September 2020 |
213,477 | 180,987 | 394,464 | |
| Charge for year | 639 | 639 | ||
| Depreciation on disposal |
(8,812) | (8,812) | ||
| At 31"August 2021 | 213,477 | 172,814 | 386,291 | |
| Net BookValues | ||||
| At 31"August 2021 | 380,000 | 1,918 | 381,918 | |
| At 31"August 2020 | 380,000 | 2,557 | 382,557 |
| ixed Assets Investments | |
|---|---|
| Other | |
| Investments | |
| E | |
| Valuation | |
| At 1"September 2020 | 23,919,000 |
| At 31"August 2021 | 23,919,000 |
| Impairment At 1"September 2020 |
605,000 |
| Written off in year | 2,398,000 |
| At 31"August 2021 | 3,003,000 |
| Carrying amount | |
| At 31"August 2021 | 20,916,000 |
| At 31"August 2020 | 23,314,000 |
| ebtors: Amou | nts falling due within one |
year | |||
|---|---|---|---|---|---|
| Group | Charity | ||||
| 2021 | 2020 | 2021 | 2020 | ||
| E | f | E | E | ||
| Trade debtors | 4,452 | 5,609 | 4,452 | 5,609 | |
| Amounts owed by group companies |
41,154 | 27,349 | |||
| Prepayments | and accrued income | 3,627 | 16,105 | 3,627 | 16,105 |
| Other debtors | 26,220 | 40,851 | 26,220 | 40,851 | |
| Total | 34,299 | 62,565 | 75,453 | 89,914 |
| Group | Charity | Charity | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | |||||||||
| E | E | E | E | |||||||||
| Bank loans and overdrafts | 35,127 | 35,127 | ||||||||||
| Trade creditors | 612 | 10,725 | 612 | 10,725 | ||||||||
| Taxation and | social | security | 1,324 | 3,836 | 1,324 | 3,836 | ||||||
| Accruals and | deferred | income | 3,691 | 4,374 | 3,691 | 4,374 | ||||||
| Other creditors | 440 | 36,817 | 440 | 36,817 | ||||||||
| Tota I | 6,067 | 90,879 | 6,067 | 90,879 | ||||||||
| 19. | Creditors: Amounts | falling due | after more | than | one year | |||||||
| Group | Charity | |||||||||||
| 2021 | 2020 | 202 | 2020 | |||||||||
| E | E | E | E | |||||||||
| Other creditors | 59,000 | 26,000 | 59,000 | 26,000 | ||||||||
| 20. | Fund Reconciliation | |||||||||||
| Balance at | Income | Expenditure | Gains | / | Balance at | |||||||
| 1 Sept | (Losses) | 31"August | ||||||||||
| 2020 | 2021 | |||||||||||
| E | E | |||||||||||
| Unrestricted | Funds | |||||||||||
| General funds | 328,785 | 149,622 | (103,953) | 374,454 | ||||||||
| 328,785 | 149,622 | (103,953) | 374,454 | |||||||||
| Restricted Funds |
||||||||||||
| Mercian Trust | 23,314,000 | (2,398,000) | 20,916,000 | |||||||||
| 23,314,000 | (2,398,000) | 20,916,000 | ||||||||||
| 23,642,785 | 149,622 | (103,953) | (2,398,000) | 21,290,454 |
| 21. | Analysis ofnet assets between | funds | ||||||||
| Unrestricted | Restricted | Total | ||||||||
| Funds | Funds | Funds | ||||||||
| f | E | E | ||||||||
| Tangible | fixed assets | 381,918 | 20,916,000 | 21,297,918 | ||||||
| Current | assets | 57,603 | 57,603 | |||||||
| Current | liabilities | (6,067) | (6,067) | |||||||
| Creditors | falling due | after | more | than one | year | (59,000) | (59,000) | |||
| Tata I | 374,454 | 20,916,000 | 21,290,454 | |||||||
| 22. | Reconciliation ofnet |
movement | in funds | to net cash | flow from operating | activities | ||||
| 2021 | 2020 | |||||||||
| f | E | |||||||||
| Net income/(expenditure) | for | the year | 45,669 | (35,510) | ||||||
| Interest | payable | 2,383 | ||||||||
| Depreciation and impairment |
oftangible | fixed assets | 639 | 1,307 | ||||||
| Losses on investments | 2,398,000 | 340,000 | ||||||||
| Profit on | sale of fixed assets | (917) | (300,015) | |||||||
| (Increase) decrease | in debtors | 28,266 | (46,808) | |||||||
| Increase | (decrease) | in creditors | (51,812) | (1,882,075) | ||||||
| 2,419,845 | (1,920,718) |