2021-08-31-accounts

Contents
Introduction from the Headmaster
Trustees, Officers and Advisors
Report ofthe Governing Body.
Directors' Report
Strategic Report
Independent Auditor's Report to the	Members	and Governors	of Wellingborough	School ..	...14
Consolidated Statement of Financial	Activities				18
Consolidated Income 5Expenditure	Account				19
Consolidated Balance Sheet at 31August 2021.					20
School Balance Sheet at 31August	2021				21
Consolidated Statement of Cash Flows.					22
Notes to the Financial Statements.					23

ollowing served as Council members du	ring the year ending	ring the year ending	31August 2021.	31August 2021.
Council Member	Nominating		Body
Cllr TAllebone	Borough	Council		of Wellingborough
Mrj W Browne BA M.St (Oxon)	Old Wellingburian			Club
Mr T Carlier	Co-Opted
Mr D K Exham	Co-Opted
Mrsj M A Howard	Co-Opted
Mr N B Lyon MA FSA	Co-Opted

Consolidated State	ment	ofFinanci	al Activi	ties
	Note	Unrestricted	Restricted	Endowment	Total	Total
		Funds	Funds f	Funds E	2021	2020f
INCOME FROM:
Charitable Activities
School fees (net)	2	12/001/161			12/001/161	10928 395
Other ancillary trading income		243,704			243,704	284,708
Donations 5.Legacies Donations 5Grants		22/235	99/119		121,354	3,933,338
Investments
Interest receivable		236	39		275	11,285
Other income		148463	25000		173463	178771
Total Income		12/415/799	124/158		12/539/957	15336497
EXPENDITURE ON:
Raising funds Trading expenses Fundraising Interest payable	4 5 5	72,717 44,042 14,435			72,717 44,042 14/435	69,898 54,812 18,326
Charitable Activities
School expenditure Project Pascal Total expenditure	5 5	11/716/996 11/848/190	28/174 28/174		11,745,170 11/876/364	11,991,653 319280 12453 969
Net income / (expenditure) Transfers between funds	18	567/609 127/492	95/984 (127/492)		663/593	2 882 528
Unrealised gains / (losses) on investments	10	125,470			125,470	(3,000)
Net movement in funds		820/571	(31/508)		789/063	2 879528
Funds brought forward		19/660/721	1/721/990	3/523/881	24/906/592	22 027 064
Funds carried forward	18	20481292	1690482	3523881	25 695655	24 906592

		Note	2021f	2020
Income			12,539,682	15,325,212
Total expenditure			(11,861,929)	(12,435,643)
Operating surplus			677,753	2,889,569
Interest receivable			275	11,234
Interest payable		5	(14,435)	(18,326)
Unrealised gains / (losses) on investments		10	125,470	(3,000)
Net retained surplus for the financial year			789,063	2,879,477
All ofthe activities ofthe charitable	company are classed as continuing.

Consolidated B	alan	ce S	heet	at3iAug	ust 202i
			Note		2021			2020
Fixed assets
Tangible assets Investments			9 10		19,178,104 3340690			19,467,203 1215 220
					22,518,794			20,682,423
Current assets
Stock			12	71,227		83,256
Debtors			13	316,017		324,839
Cash at bank			14	4536650		5 857	042
				4,923,894		6,265,137
Creditors: amounts due within one year	falling		15	(1~296/438)		(1,485,183)
Net current assets					3,627,456			4,779,954
Total assets less current liabilities					26,146,250			25,462,377
Creditors: amounts due after more than	falling one year		16		(450,595)			(555,785)
Net assets					25 695655			24 906592
Funds unrestricted
Capital account Special reserve Designated funds			18 18 18		16,100,847 479,642 3900803 20,481,292			14,768,955 479,641 4412 125 19,660,721
Restricted Permanent endowment			18 18		1,690,482 3,523,881			1,721,990 3,523,881
Total funds					25695655			24,906 592
Thes financial statements		were	approved	and signed	on behalf ofthe	Trustees	by:
P sey			fA-L
Governor

Consolidated Statement ofCash	Flo	ws
Net cash inflow from o eratin activities				2021	2020f
Net cash provided by operating acti vities				1,264,987	1,964,203
Cash flows from investing activities Interest received				275	11,285
Investment additions				(2/0001000)
Payments for tangible fixed assets additions				(445,890)	(371,572)
Net cash usedininvesting acti vities				(2,445,615)	(360,287)
Cash flows from financing activities Repayment on bank loans				(139,764)	(135,679)
Net cash usedin financing activities				(139,764)	(135,679)
Change in cash and cash equivalents in the period	reporting			(1I320~392)	1,468,237
Cash and cash equivalents in the reporting	period			Sg8571042	4,388,805
Cash and cash equivalents at the end ofthe period	reporting			4,536,650	5,857,042
Reconciliation of net income to net cash flow from o eratin			activities
				2021	2020
Net income forthe reporting period (as per	the SOFA)			789,063	2,879,528
Adjustments for: Depreciation charges Masterplan write off Disposal offixed assets Unrealised losses / (gains) on investments Interest received				656,173 78,816 (125,470) (275)	657,039 319,280 3,000 (11,285)
Decrease / increase in stock Decrease / (increase) in debtors Increase in creditors				12,029 8,822 (154,171)	3,644 14,277 (1,901,280)
Net Cash provided by operating activities				1264987	1964203
Reconciliation ofnet debt
At 1September 2020	Cash		flow	Other movements	At 31August 2021
Cash Loans due within one year Loans due after one year Total 5,857,042 (171,907) 169307 5 515828		(2,585,379) (22,586) 125396 2 733361		1,264,987 1 264 987	4,536,650 (149,321) 43 911 4 343418
					Page 22

2.School fees (ne	t) —2021
		Unrestricted	Restricted	Endowment	TotalFunds
		Funds	Funds	Funds	2021f
School fees (gross)		12,705,002			12,705,002
Scholarships Bursaries		(73,246) (569,518)			(73,246) (569,518)
Hardship fund
Nevill Trust scholarships	and bursaries
Discounts —siblings Discounts - year in advance		(50,234) 10843			(50,234) 10843
		12001161			12001161

School	fees (net)	—2020
			Unrestricted	Restricted	Endowment	Total Funds
			Funds	Funds	Funds	2020
						f.
School fees (gross) *			11,652,727			11,652,727
Scholarships			(96,913)			(96,913)
Bursaries			(465,402)			(465,402)
Hardship	fund		(48,795)			(48,795)
Nevill Trust scholarships		and bursaries		(24,526)		(24,526)
Discounts	—siblings		(41,633)			(41,633)
Discounts	—year in advance		47 063			47 063
			10952921	24 526		10928395
*After the COVID fee		rebate

3.Donatio	ns and Legacies - 20	21
		Unrestricted	Restricted	Endowment	Total Funds
		Funds	Fundsf	Funds	2021
Grant income	(CARS)	19,660			19,660
Donations		2575	99119		101694
		22 235	99119		121354
Donations	and Legacies —2020
		Unrestricted	Restricted	Endowment	Total Funds
		Funds	Funds	Funds	2020
		E
Grant income	(CjRS)	390,652			390,652
Donations		2 724 205	818481		3 542 686
		3 114857	818481		3933338

4.Trading	activities	a	nd oth	er income —202	1
				Unrestricted	Restricted	Endowment	Total Funds
				Fundsf	Funds	Fundsf	2021
Other ancillary trading		activity
Income —Wellingborough Enterprise Ltd Other ancillary activities		School		149,123 94581			149,123 94581
				243 704			243704
Other income
Rental income				88,531	25,000		113,531
Other income				59932			59932
				148463	25 000		173463
Expenditure —Wellingborough Enterprise Ltd			School	72,717			72,717
Trading activities and			other	income —2020
				Unrestricted	Restricted	Endowment	Total Funds
				Funds	Funds	Funds	2020f
Other ancillary trading		activity
Income —Wellingborough		School
Enterprise Ltd				170,772			170,772
Other ancillary	activities			113936			113936
				284 708			284 708
Other income
Rental income				91,930	25,000		116,930
Other income				61841			61841
				153771	25 000		178771
Expenditure —Wellingborough Enterprise Ltd			School	69,898			69,898

		Staff costs	Depreciation	Other costs	TotalFunds
				f
Fundraising		28,426		15,616	44,042
School expenditure
Tuition expenses		6,298,500		1,504,004	7,802,504
Domestic and catering expenses				583,954	583,954
Buildings and grounds		582,495		650,682	1,233,177
Management Marketing	and administration	771,743 131,981		314,301 76,092	1,086,044 208,073
Minor works				99,248	99,248
Depreciation			637,330		637,330
Audit fees				26 130	26 130
		7,784,719	637,330	3g2541411	11I676I460
Subsidiary	trading costs	29,945	18,843	19,922	68,710
Total		7843090	656173	3289949	11789212
Charitable	activities —2020
		Staff costs	Depreciation	Other costs	Total Funds
		f	f	f	f
Fundraising		42,438		12,374	54,812
School expenditure
Tuition expenses		6,546,362		1,291,207	7,837,569
Domestic and catering expenses				579,105	579,105
Buildings and grounds		814,031		662,487	1,476,518
Management	and administration	813,522		295,200	1,108,722
Marketing		140,447		88,654	229,101
Minor works				30,982	30,982
Depreciation			638,191		638,191
Audit fees				21,180	21,180
Project Pascal*				319280	319280
		8,314,362	638,191	3,288,095	12,240,648
Interest payable				18,326	18,326
Subsidiary	trading costs	36,565	18,848	14,872	70,285
Total		8350927	657039	3321293	12329259

The a	ggregate payroll costs w	ere:
		The Group		The Company
		2021	2020	2021	2020
Wages Social Other	Ksalaries security costs pension costs	6,218,437 582,752 1,041,901	6,753,580 593,771 1,046,014	6,188,492 582,752 1,041,901	6,717,015 593,771 1,046,014
		7843090	8 393365	7813 145	8356 800

During the ye	ar, termi	nation paym	ents off204,084	(2020:f16,735)were made.	(2020:f16,735)were made.
The average	number	of employed	by the charitable	group during the financial year amounted		to:
				2021		2020
				Number	Number
Teaching staff	(including	peripatetic)		108		112
Academic Support				42		45
Support Staff				66		83
				216		240

7.Payments	to Governors and connecte	d persons
		2021f	2020 E
Training and travel		1,046	1,502
		1046	1502
8.Operating	surplus
Operating surplus	is stated after charging:
		2021	2020
			E
Staff pension contributions Depreciation Unrealised gain / (loss) on investments		1,041,901 656,173 125,470	1,046,014 657,039 (3,000)
Auditors' remuneration:
Audit services		26,130	25,416
Non-audit services		4,740	12,970

9.Tangible	fixed ass	ets
	Freehold	Assets	Freehold land
Group	buildings	construction	improvement	information systems	and vehicles	lease	Total
				f.
Cost or valuation
1September 2020	16803313 I I	122,101	3,259,109	1,665,776	162,002	47,500	22,059,801
Additions	20,000	86,617	245,606	56,070	37,597		445,890
Disposals	(44,550)				(61,597)	(47,500)	(153,647)
Transferred		18787	18787
31August 2021	16778763	189931	3523502	1721846	138002	-	22352044
Depreciation
1September 2020	624,538		588,777	1,250,851	115,198	13,234	2,592,598
On disposals					(61,597)	(13,234)	(74,831)
Charge for the year	207,813		239,044	181,494	27,822		656,173
31August 2021	832351		827821	1432345	81423		3173940
Net book value
31August 2021	15946412	189931	2695681	289501	56579	-	19178104
31August 2020	16,178,775	122,101	2,670,332	414,925	46,804	34,266	19,467,203
School	Freehold land and buildings f.	Assets under construction f.	Freehold land and buildings improvements	Equipment f and in ormation systems	Minibuses and vehicles f	Co-op field lease f	Total
Cost or valuation
1September 2020	16,803,313	122,101	3,259,109	1,259,877	162,002	47,500	21,653,902
Additions	20,000	86,617	245,606	56,070	37,597		445,890
Disposal	(44,550)				(61,597)	(47,500)	(153,647)
Transferred		18787	18787
31August 2021	16778763	189931	3523 502	1315947	138002		21946 145
Depreciation
1September 2020	624,538		588,777	949,239	115,198	13,234	2,290,986
On disposals					(61,597)	(13,234)	(74,831)
Charge for the year	207,813		239,044	162,651	27,822		637,330
31August 2021	832351		827 821	1111890	81423		2 853485
Net book value
31August 2021	15946412	189931	2 695681	204 057	56579		19092 660
31August 2020	16,178,775	122,101	2,670,332	310,638	46,804	34,266	19,362,916

historical cost basis at		the followi	ng	amounts	:
									Land		5.buildings
											f.
Cost											8,203,888
Accumulated depreciation											803010
Net book amount at 31August 2021											7 400 878
Net book amount at 31August 2020											7,484,261
Based on the Schools'		insurance	records the		fixed assets had		the	following	valuation	for
reinstatement at 31August 2021:
								2021			2020f
Freehold land and buildings							51,297,464				47,745,307
Information systems and		equipment,	minibuses		and vehicles		3,874,295				3,684,118
							55	171759			51429 425
10.Investments
						The Group			The	Company
						2021 f.		2020	2021		2020f
CF Heartwood Investment		Management		(see below)		1,335,874	1,210,404		1,335,874		1,210,404
Standard Life Aberdeen Investment in subsidiary War stock —f2,508.15 War stock - f47.09	Group (see (see note		below) 11)			2,000,000 1,800 16		1,800 16	2,000,000 12 1,800 16		12 1,800 16
National savings bond						3000		3000	3000		3000
						3340/690	1	215220	3340~702		1215232
Valuation									The Group		ILCompanyf
At 1September 2020											1,215,220
Additional investments											2,000,000
Unrealised gains on revaluations											125,470
At 31August 2021											3 340 690

13.Debtors	FOR THE YE	AR ENDED 31AU	GUST 202	1
		The Group		The Company
		2021	2020	2021	2020
			E	f	E
Trade debtors		83,775	112,077	75,091	98,990
Other debtors Prepayments Amounts owed from group	undertaking	52,140 180,102 316017	12,970 199,792 324 839	52,140 173,303 84954 385488	12,970 191,565 145161 448 686

year. There is no sec 14.Cash at bank	u	rity pro	vided or in	terest payable to the	c	haritable	company on this loa	company on this loa	n.
				The Group			The Company
				2021 f		2020	2021 f		2020 f
Special reserve account Permanent endowment		account		478,719 23,878		478,718 23,878	478,719 23,878		478,718 23,878
Bank accounts				4034053	5	354446	3947 289	5	251046
				4536650	5	857 042	4449886	5,753 642
15.Creditors: Amounts			falling due within one year
				The Group			The Company
				2021 f		2020	2021		2020
Bank loans				130,632		145,000	130,632		145,000
HP loans				18,689		26,907	18,689		26,907
Trade creditors				118,971		20,491	114,213		12,733
Taxation and social security Other creditors				3,542 116,755		146,998 125,234	112,642		145,628 119,709
Amounts owed to group undertakings Accruals and deferred income				907849	1	020 553	886 800		1,013 989439
				1296438	1,485 183		1262 976	1	440 429

16.Creditors: Amo	unts falling	after more than on	e year
		The Group		The Company
		2021 f	2020	2021 f	2020 E
Bank loans			125,396		125,396
HP loans		11,680	11,680	11,680	11,680
Loan —Old Wellingburian Advance fees	Club	32,231 113,711	32,231 132,490	32,231 113,711	32,231 132,490
Fee deposits		292,973	253,988	292,973	253,988
Deferred income
		450 595	555 785	450 595	555 785

			The group and the company
			Assets other than land and buildings
			2021 f.	2020f
Operating	leases payments	due:
Within 1	year		0	0
Within 2	to 5years		71941	71941
			71941	71941

18.Fund Analysis	18.Fund Analysis
Total Funds —current year
		Total	Restricted	Permanent	Total
		Unrestricted		Endowment f.	2021f
Reserves
Balance at 1September	2020	13,051,656	1,385,003	23,881	14,460,540
Net income		820 571	31508		789063
Balance at 31August	2021	13872 227	1353495	23881	15249 603
Revaluation reserve
Balance at 1 September	2020	6,609,065	336,987	3,500,000	10,446,052
Surplus on revaluation Balance at 31August	in year 2021	6609065	336987	3500 000	10446 052
Total funds
At 31August 2021		20481292	1690482	3523881	25 695655
At 31August 2020		19,660,721	1,721,990	3,523,881	24,906,592
Total Funds —prior year
		Total	Restricted	Permanent	Total
		Unrestricted E		Endowment	2020f
Reserves
Balance at 1 September	2019	10,944,680	612,502	23,830	11,581,012
Net income		2 106976	772 501	51	2 879528
Balance at 31August	2020	13051656	1385003	23 881	14 460 540
Revaluation reserve
Balance at 1September	2019	6,609,065	336,987	3,500,000	10,446,052
Surplus on revaluation	in year
Balance at 31August	2020	6609065	336987	3 500 000	10446 052
Total funds
At 31August 2020		19660 721	1721990	3 523 881	24 906592
At 31August 2019		17,553,745	949,489	3,523,830	22,027,064

Unrestricted Funds		—curre	nt year	nt year
			School Consolidated Capital Capital account account		Special reserve*	Designated funds	Total Unrestricted 2021
			f.	f.
Reserves
Balance at 1September		2020	8,037,560	8,159,890	479,641	4,412,125	13,051,656
Net income			674,918	693,078	1		693,079
Transfer to designated	funds
Transfer to and from restricted
funds			127,492	127,492			127,492
Transfer from designated		funds	511322	511322		511322
Balance at 31August 2021			9351292	9491782	479642	3900803	13872227
Revaluation reserve
Balance at 1September		2020	6609065	6609065			6609065
Balance at 31August 2021			6609065	6609065			6609065
Totalfunds
At 31August 2021			15960357	16100847	479642	3900803	20481292
At 31August 2020			14,646,625	14,768,955	479,641	4,412,125	19,660,721
*Set aside to protect the School			from unforeseen	adverse variations	in near-term	income streams.

Set aside to protect th Unrestricted Funds	e School —prior	from unforesee year	n adverse variation	s in near-ter	m income strea	ms.
		School Capital account	Consolidated Capital account	Special reserve	Designated funds	Total Unrestricted 2020
Reserves
Balance at 1September	2019	8,582,494	8,664,064	478,582	1,802,034	10,944,680
Net income		2,048,124	2,088,884	1,059		2,089,943
Transfer to designated funds		(2,737,360)	(2,737,360)		2,737,360
Transfer to and from restricted
funds		17,033	17,033			17,033
Transfer from designated	funds	127269	127269		127269
Balance at 31August 2020		8037560	8 159890	479641	4412 125	13051656
Revaluation reserve
Balance at 1September	2019	6609065	6609065			6609065
Balance at 31August 2020		6,609,065	6,609,065			6,609,065
Totalfunds
At 31August 2020		14646 625	14768955	479 641	4412 125	19660 721
At 31August 2019		15,191,559	15,273,129	478,582	1,802,034	17,553,745

	FOR THE YEAR	FOR THE YEAR	ENDED 31	AUGUST 20	21
Designated	Funds —current year Designated Fenton Hardshipf		Designated Nursery	Designated Foundation	Designated Masterpian	Total Designated 2021 f.
Reserves
Balance at 1September 2020		2,562,617	60,000	22,097	1,767,411	4,412,125
Income
Expenditure Balance at 31August 2021		511274 2051343	60000	48 22049	1767411	511322 3900803
Designated	Funds —prior	year Designated Fenton Hardship	Designated Nursery	Designated Foundation	Designated Masterpian	Total Designated 2020f
Reserves
Balance at 1September 2019				34,623	1,767,411	1,802,034
Income		2,660,031	60,000	17,329		2,737,360
Expenditure		97414		29 855		127269
Balance at 31August 2020		2,562 617	60 000	22,097	1767411	4412 125

Restricted Funds —current	Restricted Funds —current	Restricted Funds —current	Restricted Funds —current	Restricted Funds —current	year
	a.~ w oae oQIAe e In a. a.	Ble QI ri e e 4 a.	e 5 ZA N e Cl IQ CL		a1e Ql g2K e Q, QIa Se CL	ul g a. A IQ e	IQ2 QA IQa		SQ IIII e Q ~. Qle~A n a.e 'C Ql IL		Ql	ol IQ o s~ e e 2 a.		a Ql	e O	I e la Ql	gl rr Ql 'O rl t il' Ql ea	e iI' CL QI
Reserves
Balance at 1 September 2020	334,895	63,285		5,605	108,919	8,990	30,741	9,019		25,079	544		55,957	339,969			402,000	1,385,003
Income	350			1,225	25,039	2,500	9,450						85,594					124,158
Expenditure and transfers	(1,396)			(1,225)	(5,294)	(2,567)	(17,296)	(396)								(127,492)		(155,666)
Balance at 31 August 2021	333i849	63i285		5i605	128i664	Si923	22i895	Si623	25i079		544	141i551		339i969		274i508		1i353i495
Revaluation reserve
Balance at 1 September 2020					336,987													336,987
Surplus on
revaluation
Balance at 31 August 2021					336,987													336/987
Total Restricted	Funds
At 31August 2021	333849 i	63,285		5,605	465,651	8,923	22,895	8,623	25,079		544	141,551		339,969		274,508		1,690,482
At 31August 2020	334,895	63,285		5,605	445,906	8,990	30,741	9,019		25,079	544		55,957	339,969		402,000		1,721,990

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			f			f				f.	f		f
Reserves
Balance at 1 September 2019 Income Expenditure		327,063 10,750 2 918	64,785 1500		4,705 900			113,525 25,288 29 894	7,525 30,741 3,100 15,948 1635 15948	39,379 19,569 49 929	25,079		(300) 844	55,957		339,969			402,000		612,502 874,325 101824
Balance at 31 August 2020		334l895	63285		5605			108919	8 990 30/741	9t019	25l079		544	55/957 339/969					402l000		1/385l003
Revaluation reserve
Balance at 1 September 2019								336,987													336,987
Surplus on
revaluation
Balance at 31 August 2020								336,987													336,987
Total Restricted	Funds
At 31August 2020		334895	63l285		sl605			445l906	8~990 30l741	9~019	25l079		544	55l957 339I969					402l000		11721l990
At 31August 2019		327 063	64,785		4,705			450,512	7,525 30,741	39,379	25,079		(300)								949,489
Permanent endowment
The E3,500,000 permanent							endowment		reserve has arisen from the				re-valuation of				the freehold
land and buildings. f16,182							represents		the proceeds of Government				Stock deposits				held	by the
original		Trust. f2,000		relates				to historic	proceeds from	the sale of permanent					endowment				land,
and the		balance	of E5,648 represents interest received							on permanent			endowment			deposits			to
date.
Restricted Funds
Bursary Fund								Bursary support from Foundation Fundraising						initiatives.
Prize	Giving Fund						Support for award made			at the	Annual	Prize		Giving funded				by
							specific donations from inter alia, the Old Wellingburian										Club,		the
							Old Wellingburian Masonic Lodge, and					from		Mrs	jane	Fisher.
Nevill		Trust					The aim ofthis incorporated Trust is to						support		School		activities
							through the annual provision ofgrants					for either			capital		investment
							or assisted		places.
Sugden Art Fellowship								OW sponsored awards to support Sixth					Formers		or recent leavers					in
							the Arts (Art, Drama or Music).
kVar	Memorial							Foundation-generated support			for Bursary awards to					gifted		pupils
								who otherwise could not		afford	a Wellingborough				education,
								together with some small		awards to leavers.
Edwards Legacy Awards								Supporting	music through	annual grants			and	awards to outstanding
								pupils.

19.An	alysis ofnet assets betw	een funds
		Unrestricted	Restricted	Endowment	TotalFunds
		Funds	Fundsf	Fundsf	2020
Tangible	fixed assets and investments	18,627,882	390,912	3,500,000	22,518,794
Current	assets	3,600,443	1,299,570	23,881	4,923,894
Current liabilities Long term liabilities		(1,296,438) 450 595			(1,296,438) 450 595
		20381292	1690482	3523881	25 695655
Analysis ofnet assets between		funds —prior	year
		Unrestricted	Restricted	Endowment	TotalFunds
		Fundsf	Fundsf	Fundsf	2019f
Tangible	fixed assets and investments	16,786,039	396,384	3,500,000	20,682,423
Current	assets	4,915,650	1,325,606	23,881	6,265,137
Current	liabilities	(1,485,183)			(1,485,183)
Long term liabilities		555 785			555785
		19660 721	1721990	3 523881	24906592

		Unrestricted	Restricted	Endowment	Total
		Funds	Funds	Funds	2020
				E
INCOME FROM:
Charitable Activities
School fees (net) Other ancillary trading	income	10,952,921 284,708	(24,526)		10,928,395 284,708
Donations 8 Legacies Donations 5.Grants		3I114I857	818,481		3,933,338
Investments
Interest receivable		10,946	288	51	11,285
Other income		153771	25 000		178 771
Total Income		14,517,203	819,243	51	15,336,497
EXPENDITURE ON:
Raising funds Trading expenses Fundraising Interest payable		69,898 54,812 18,326			69,898 54,812 18,326
Charitable Activities
School expenditure Project Pascal Total expenditure		11g961I944 319280 12I424I260	29,709 29I709		11,991,653 319280 12,453,969
Net income / (expenditure)		2,092,943	789,534	51	2,882,528
Transfers between funds		17,033	(17,033)
Unrealised gains / (losses) on investments		(3,000)			(3,000)
Net movement in funds		2g106I976	772I501	51	21879~528
Funds brought forward		17,553,745	949,489	3,523,830	22,027,064
Funds carried forward		19660721	1721990	3523881	24906592