## ## |Report ofthe Trustees,|incorporating|Strategic report| |---|---|---| |Report ofthe Independent
Auditors||| |Statement of Financial|Activities|| |Balance Sheet||| |Statement ofCash Flows||| |Notes to the Financial|Statements|| ## ## ## ## ## ## ## ## ## ## ## ## ## |Full-time|BAstudents
studying
for a degree|in Fine Art|75%| |---|---|---|---| |Full-time|practicing fine artists under 40years ofage||75%| |Primary
and secondary
school teachers who||teach art|50%| |Individuals|on job seekers allowance||50%| |Individuals|who receive disability
support||50%| |Tower Hamlets
and Hackney residents|||25%| |Individuals|over the age of60||10%| ## ## ## ## ## ## ## ## ## ## ## |||RISK|||MITIGATION|| |---|---|---|---|---|---|---| |The School's annual||fundraising||is not sufficient|A fundraising
strategy that has clear targets,|is| |to cover|its costs ofoperation||||sufficiently
resourced
and closely monitored|| |The School does not||have fit-for-purpose|||Maximise teaching space within our share of|| |premises|in which to deliver||its|programmes.|Charlotte
Road building
(one third ownership);|| ||||||take a measured
view ofcommitting
resources|| ||||||when the School does not have long-term|| ||||||security oftenure elsewhere|| ||RISK|||MITIGATION||| |---|---|---|---|---|---|---| |The School must close its teaching spaces due||||Implement
online learning
programme;|ensure|| |to a global pandemic||||building
Operation
Guidelines
meet standards||| |||||to mitigate
contamination,
follow government||| |||||or local guidance;
ensure a robust
Risk||| |||||Assessment
is carried out.||| |The School's course|income|is|reduced due to a|Move courses online to continue to teach||| |global pandemic||||students
and generate course income;||| |||||reduction
in building costs due to building||| |||||closure will help offset loss of income;||| |||||subscribe to government
relief programmes||| |The School's annual|fundraising||is reduced due|Unrestricted
general reserves covering|at least|| |to a global pandemic||||six months ofoperating
expenditure;||| |||||reduce running
costs through
building|closure|| |||||and government
relief programmes;
roll out||a| |||||fundraising
strategy
in response to the||| |||||pandemic||| |There is an Outbreak|at the|School||Follow Outbreak
plan and Operations||| |||||Guidelines;
temporary
closure if necessary;||Risk| |||||Assessment;
effective communication|of|| |||||policies and plan to all stakeholders||| ## ## ## ## ## ## ## ## ## ## |Richard Weaver (Senior Statutory|Auditor)||10Queen Street Place| |---|---|---|---| |For and on behalf of Haysmacintyre|LLP, Statutory|Auditors|London| |24 March 2021|||EC4R 1AG| ## ## ## |Statement
offinancial
activi
Year ended 31August 2020|ties
including
|income|and expe|nditure
account||||| |---|---|---|---|---|---|---|---|---| |||||Unrestricted
Funds|Restricted
Funds|Endowment
Funds|Total Funds|Total Funds| ||||Notes|31-Aug-20|31-Aug-20|31-Aug-20|31-Aug-20|31-Aug-19| |Income from:||||||||| |Donations
and legames||||595,529|906,435|607,096|2,109,060|2,126,932| |Chantable
actiwties||||||||| |Education||||911,435|||911,435|862,833| |Investments||||21,749||50,742|72,491|210,969| |Other||||||||201,383| |Total income|||2|1,528,713|906,435|657,838|3,092,986|3,402,117| |Expenditure
on:||||||||| |Raising funds||||296,459|||296,459|364,358| |Chantable
actiwties||||||||| |Education||||1,853,232|959,777||2,813,009|3,025,038| |Total expenditure|||3|2,149,691|959,777||3,109,468|3,389,396| |Net income / (expenditure)|before change|in||(620,978)|(53,342)|657,838|(16,482)|12,721| |market value of investments|and transfers|||||||| |Change
in market
value of investments||||||(76,627)|(76,627)|(392,434)| |Net income / (expenditure)|forthe year|||(620,978)|(53,342)|581,211|(93,109)|(379,713)| |Transfer
- allocation oftotal|return|||224,472||(224,472)||| |Transfer between
funds||||400,000||(400,000)||| |Net movement
in funds||||3,494|(53,342)|(43,261)|(93,109)|(379,713)| |Totalfunds
brought
forward||||2,905,459|147,235|10,845,609|13,898,303|14,278,016| |Total funds carried forward|||11,12|2,908,953|93,893|10,802,348|13,805,194|13,898,303| ## |As at 31August 20|20|||| |---|---|---|---|---| |||Notes|31-Aug-20|31-Aug-19| ||||f|f| |Fixed assets||||| |Tangible assets|||2,295,535|2,401,364| |Investments|||9,173,920|9,115,360| ||||11,469,455|11,516,724| |Current assets||||| |Debtors|||438,724|563,655| |Cash at bank and|in hand||2,648,647|2,477,817| ||||3,087,371|3,041,472| |Creditors: amounts|falling due within one year|10|(751,632)|(659,893)| |Net current assets|||2,335,739|2,381,579| |Total net assets|||13,805,194|13,898,303| |Represented
by:||||| |Restricted
funds|||93,893|147,235| |Endowment
funds|||10,802,348|10,845,609| |Designated
fund|||2,189,220|2,219,887| |General fund|||719,733|685,572| |||11,12|13,805,194|13,898,303| ## ## |The Royal Drawing School
Statement ofcash flows
year ended 31August 2020|||||| |---|---|---|---|---|---| ||||31-Aug-20||31-Aug-19| ||||f||5| |Cash flows from operating
activities:|||||| |Net income / (expenditure)
in the year|||(93,109)||(379,713)| |Depreaation
charges|||123,388||60,241| |(Gains)/losses
on investments|||76,627||392,434| |Dividends,
interest
and rent from investments|||(72,491)||(210,969)| |Receipt ofendowment|||(607,096)||(502,209)| |(Increase)/decrease
in debtors|||124,931||785,508| |Increase/(decrease)
in creditors|||91,739||154,784| |Net cash provided
by / (used in) operating||activities||(356,011)|300,076| |Cash flows from investing
activities:|||||| |Dividends,
interest
and rents from investments|||72,491||210,969| |Purchase offixed assets|||(17,559)||(28,951)| |Disposal offixed assets|||||716| |Proceeds from sale of investments|||3,174,021||1,500,950| |Purchase of investments|||(3,309,208)||(3,245,175)| |Net cash provided
by/ (used in) investing||activities||(80,255)|(1,561,491)| |Cash flows from financing activities:|||||| |Receipt ofendowment|||607,096||502,209| |Net cash provided
by / (used in) financing||activities||607,096|502,209| |Change in cash and cash equivalents|in the|year||170,830|(759,206)| |Cash and cash equivalents
at the beginning||ofthe year||2,477,817|3,237,023| |Cash and cash equivalents
atthe end|ofthe year|||2,648,647|2,477,817| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |2|Income||||||||| |---|---|---|---|---|---|---|---|---|---| |||||||Restricted|Endowment||| |||||General|Funds|Funds|Funds|Total|Total| |||||31-Aug-20||31-Aug-20|31-Aug-20|31-Aug-20|31-A ug-19| |||||f||f|f|f|f| ||Donations
and legacies|||595,529||906,435|607,096|2,109,060|2,126,932| ||Charitable
activities||||||||| ||Course fees|||853,119||||853,119|787,165| ||Materials||||9,459|||9,459|16,685| ||Other income||||48,857|||48,857|58,983| |||||911,435||||911,435|862,833| ||Investments||||||||| ||Deposit account interest||||21,749|||21,749|17,315| ||Dividends
and interest||||||50,742|50,742|193,654| ||||||21,749||50,742|72,491|210,969| ||Other||||||||| ||Exchange (gains)/losses||||||||201,383| ||||||||||201,383| |||||1,528,713||906,435|657,838|3,092,986|3,402,117| |3|Expenditure|||||||31-Aug-20|31-A ug-19| |||||||||f|f| ||Raising Funds||||||||| ||Staff costs (Note 5)|||||||183,803|142,088| ||Publicity
and fundraising|||||||112,656|222,270| |||||||||296,459|364,358| ||Charitable
activities||||||||| ||Educational
activity:||||||||| ||Staff costs (Note 5)|||||||1,052,802|1,093,320| ||Other direct costs (Note|4)||||||1,500,245|1,779,479| ||Support costs (Note 4)|||||||259,962|152,239| |||||||||2,813,009|3,025,038| |||||||||3,109,468|3,389,396| |4|Other direct costs and support||costs|||||31-Aug-20|31-A ug-19| |||||||||f|f| ||Other direct costs comprise:||||||||| ||Tutors and models|||||||565,813|679,276| ||Premises costs (including|staff costs - Note 5)||||||450,473|467,740| ||Bursaries and prizes|||||||61,397|74,535| ||Other direct costs (including||depreciation)|||||422,562|557,928| |||||||||1,500,245|1,779,479| ||Support costs comprise:||||||||| ||Financial
and secretarial|||||||54,099|77,408| ||Exchange (gains)/losses|||||||151,331|| ||Insurance|||||||15,503|17,007| ||Bank interest and charges|||||||22,891|16,188| ||Governance:||||||||| ||Legal and corporate costs|||||||2,898|28,266| ||Audit fees (Note 6)|||||||13,240|13,370| |||||||||259,962|152,239| ## ## |Yea|r ended 31August 2020|||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |5|Staff costs||||||||||||31-Aug-20||31-A ug-19|| |||||||||||||||E||f| ||Wages and salaries||||||||||||1,131,740||1,081,495|| ||National
insurance|||||||||||||90,704||100,837| ||Pension costs|||||||||||||78,322||71,251| ||||||||||||||1,300,766||1,253,583|| ||Temporary
staff costs|||||||||||||||2,939| ||Recruitment
and training||costs|||||||||||12,713||51,946| ||||||||||||||1,313,479||1,308,468|| ||One employee
earned||annual|remuneration||between|f60,000 and||f70,000 during||the year (2019:two), one|||employee|earned|annual| ||remuneration
between||f70,000 and f80,000 during the|||||year (2019:|one)|and one|emplyee|earned|remuneration|between|f110,000 and|| ||f120,000 during the year (2019:one).|||||||||||||||| ||Pension costs for higher||paid staff||were:|||||||||26,050||27,156| ||The average
number of||employees||(head count based||on|number ofstaff employed)|||during the year||was 60 (2019:68).The average|||number| ||offull time equivalent|employees|||during the year analysed|||by function,|was:|||||||| ||||||||||||||31-Aug-20||31-A ug-19|| ||||||||||||||Number||Number|| ||Artistic and executive directors|||||||||||||2||2| ||Education
programmes|||||||||||||20||20| ||Technicians|||||||||||||||| |||||||||||||||28||28| |Net (outgoing)/incoming|resources before other recognised|gains and losses|31-Aug-20|31-A ug-19| |---|---|---|---|---| ||||E|f| |This is stated after charging:||||| |Auditors'
remuneration|(excl VAT)||13,240|13,370| |Depreciation|||123,388|60,241| ## ## ## |7|Tangible fix|ed assets|||||||| |---|---|---|---|---|---|---|---|---|---| ||||||||yyebsite
&|Fixtures,|| |||||Freehold|land|Leasehold|Booking|fittings and|| |||||and buildings||Improvements|System|equipment|Total| |||||E||E|E|E|E| ||Cost||||||||| ||At 31August|2019||2,416,667||226,336|79,626|51,852|2,774,481| ||Additions|||||4,659|12,900||17,559| ||Disposals||||||||| ||At 31August|2020||2,416,667||230,995|92,526|51,852|2,792,040| ||Depreciation||||||||| ||At 31August|2019||196,780||70,977|67,626|37,734|373,117| ||Charge for the year|||30,667||80,557|2,999|9,165|123,388| ||Disposals||||||||| ||At 31August|2020||227,447||151,534|70,625|46,899|496,505| ||Net book value||||||||| ||At 31August|2020||2,189,220||79,461|21,901|4,953|2,295,535| ||At 31August|2019||2,219,887||155,359|12,000|14,118|2,401,364| ||All ofthe above assets are used for charitable||purposes.||||||| |8|Investments||||||||| ||||||||31-Aug-20|31-Aug-20|31-Aug-20| ||||||||E|E|E| ||Current Year||||||Permanent|Expendable|Total| ||Market value at 31August 2019||||||4,447,438|4,667,922|9,115,360| ||Additions
at cost||||||1,139,420|2,169,788|3,309,208| ||Disposals at|cost|||||(1,255,293)|(183,184)|(1,438,477)| ||Movement|in cash held for investments|||||(144,200)|(1,591,344)|(1,735,544)| ||Change
in market value||||||113,743|(190,370)|(76,627)| ||Market value at 31August 2020||||||4,301,108|4,872,812|9,173,920| ||||||||31-Aug-19|31-Aug-19|31-Aug-19| ||||||||E|E|E| ||Prior Year||||||Permanent|Expendable|Total| ||Market value at 31August 2018||||||4,537,771|3,225,798|7,763,569| ||Additions
at cost||||||1,434,329|1,810,846|3,245,175| ||Disposals at|cost|||||(2,016,026)|(18,746)|(2,034,772)| ||Movement|in cash held for investments|||||533,822||533,822| ||Change
in market value||||||(42,458)|(349,976)|(392,434)| ||Market value at 31August 2019||||||4,447,438|4,667,922|9,115,360| |Yea|r ended 31August 2020|||||||||| |---|---|---|---|---|---|---|---|---|---|---| |8|Investments
(continued)|||||||||| ||Market Value|||||||31-Aug-20|31-Aug-20|31-Aug-20| |||||||||f|f|f| ||Current Year|||||||Permanent|Expendable|Total| ||Analysis ofinvestments|||||||||| ||Oaktree Capital Management,|||L.P. (four funds)||||2,096,264|79,753|2,176,017| ||Ruffer Total Return|Fund|—C inc GBP||||||1,183,077|1,183,077| ||TM Lansdowne
Developed||Markets||Long Only SRI||Fund GBP||1,605,580|1,605,580| ||GAM Star PLC - Credit Opportunities|||||-Institutional|- (GBP)|1,040,500||1,040,500| ||Veritas Funds
PLC -|Glbal|Focus Fund|||-C- (GBP)|||1,665,443|1,665,443| ||Other Investments|||||||280,994|338,929|619,923| ||Cash held for investment|||||||883,350|30|883,380| ||Total market value|||||||4,301,108|4,872,812|9,173,920| |||||||||31-Aug-19|31-A ug-19|31-A ug-19| |||||||||f|f|f| ||Prior Year|||||||Permanent|Expendable|Total| ||Analysis ofinvestments|||||||||| ||Oaktree Capital Management,|||L.P. (Four funds)||||2,614,161|142,188|2,756,349| ||Ruffer Total Return|Fund|—C inc GBP||||||1,137,022|1,137,022| ||TM Lansdowne
Developed||Markets||Long Only SRI||Fund GBP||1,737,249|1,737,249| ||GAM Star PLC - Credit Opportunities|||||-Institutional|- (GBP)|805,725||805,725| ||Cash held for investment|||||||1,027,552|1,651,463|2,679,015| ||Total market value|||||||4,447,438|4,667,922|9,115,360| ||Income for the year|||||||31-Aug-20|31-Aug-20|31-Aug-20| |||||||||f|f|f| ||Current Year|||||||Permanent|Expendable|Total| ||Analysis ofinvestments|||||||||| ||Oaktree Capital Management,|||L.P. (four funds)||||(45,715)|3,115|(42,600)| ||Ruffer Total Return|Fund|—C inc GBP||||||16,771|16,771| ||Other Investments|||||||10,114|14,839|24,953| ||Cash held for investment||||||||51,618|51,618| ||Total income|||||||(35,601)|86,343|50,742| |||||||||31-Aug-19|31-A ug-19|31-A ug-19| |||||||||f|f|f| ||Prior Year|||||||Permanent|Expendable|Total| ||Analysis ofinvestments|||||||||| ||Oaktree Capital Management,|||L.P. (four funds)||||176,677|2,438|179,115| ||TM Lansdowne
Developed||Markets||Long Only SRI||Fund GBP||16,291|16,291| ||Cash held for investment||||||||(1,752)|(1,752)| ||Total income|||||||176,677|16,977|193,654| ## |||||||31-Aug-20|31-A ug-19| |---|---|---|---|---|---|---|---| |||||||6|f| |Opening value ofpermanent
endowment||||||4,447,438|4,537,771| |Less: Original value ofthe gift||||||(4,000,000)|(4,000,000)| |Unapplied|total return
brought forward|||||447,438|537,771| |Add|||||||| |Investment|return: dividends
and|interest||||(35,601)|176,677| |Investment|return: gains and (losses)|||||113,743|(42,458)| |Unapplied|total return before transfer to income|||||525,580|671,990| |Less|||||||| |Total return|applied|||||(224,472)|(224,552)| |Unapplied|return as at 31August|2020||||301,108|447,438| |Add|||||||| |Original
value ofthe gift brought forward||||||4,000,000|4,000,000| |New endowments
in the year|||||||| |Permanent|endowment
including|unapplied|total|return|as at 31 August||| |2020constituting
the investment||fund||||4,301,108|4,447,438| ## ## ## |Year|ended 31August 2|0|2|0|||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |9|Debtors||||||||||||| |||||||||||||31-Aug-20|31-A ug-19| |||||||||||||f|f| ||Trade debtors|||||||||||27,584|57,191| ||Donations
receivable|||||||||||305,389|305,946| ||Prepayments|||||||||||101,976|101,451| ||Other debtors|||||||||||3,775|99,067| |||||||||||||438,724|563,655| |10|Creditors: amounts|||falling||due within|one year|||||31-Aug-20|31-A ug-19| |||||||||||||f|f| ||Trade creditors|||||||||||201,356|197,165| ||Accruals|||||||||||21,497|32,965| ||Deferred income|||||||||||464,601|376,114| ||Other taxes and social||||security|||||||28,299|29,473| ||Sundry creditors|||||||||||35,879|24,176| |||||||||||||751,632|659,893| ||Opening deferred||income|||||||||376,114|194,342| ||Released
in the year|||||||||||(376,114)|(194,342)| ||Income deferred|in the|||current year|||||||464,601|376,114| |||||||||||||464,601|376,114| |11|Movement
on funds|||||||||||Other|| |||||||||At 31August||||recognised|At 31August| |||||||||2019|Income|Expenditure|Transfer|gains / losses|2020| ||Current Year|||||||f||f||f|f| ||Unrestricted
funds||||||||||||| ||General
Fund|||||||685,572|1,528,713|(2,119,024)|624,472||719,733| ||Designated
Property||||Fund|||2,219,887||(30,667)|||2,189,220| |||||||||2,905,459|1,528,713|(2,149,691)|624,472||2,908,953| ||Restricted funds||||||||||||| ||Artist On Film|||||||20,602|||||20,602| ||Drawing
Year Fund||||||||272,910|(263,860)|||9,050| ||Young Artists Programme||||||||26,605|(26,605)|||| ||Foundation
Year||Fund|||||126,633|346,822|(415,894)|||57,561| ||Denis Mahon||||||||10,000|(3,320(|||6,680| ||Alumni
& DH||||||||7,685|(7,685)|||| ||Public Programme|||General|||||43,473|(43,473)|||| ||Scholarship
and||general|||restricted|||198,940|(198,940)|||| |||||||||147,235|906,435|(959,777)|||93,893| ||Endowment
funds||||||||||||| ||Permanent
endowments|||||||4,447,438|(35,601)||(224,472)|113,743|4,301,108| ||Expendable
endowments|||||||6,398,171|693,439||(400,000)|(190,370)|6,501,240| |||||||||10,845,609|657,838||(624,472)|(76,627)|10,802,348| ||Totalfunds|||||||13,898,303|3,092,986|(3,109,468)||(76,627)|13,805,194| ## ## ||||||||Other|| |---|---|---|---|---|---|---|---|---| ||||At 31August||||recognised|At 31August| ||||2018|Income|Expenditure|Transfer|gains / losses|2019| |Prior Year|||f||f||f|f| |Unrestricted
funds||||||||| |General|Fund||657,695|1,985,565|(2,632,240)|674,552||685,572| |Designated
Property||Fund|2,250,554||(30,667)|||2,219,887| ||||2,908,249|1,985,565|(2,662,907)|674,552||2,905,459| |Restricted|funds|||||||| |Artist On|Film||20,602|||||20,602| |Drawing|Year Fund|||292,228|(292,228)|||| |Young Artists Programme||||102,150|(102,150)|||| |Foundation
Year Fund|||132,433|272,372|(278,172)|||126,633| |Dumfries|House Residencies|||2,444|(2,444)|||| |I IFA||||10,000|(10,000)|||| |Denis Mahon||||5,027|(5,027)|||| |Residencies||||31,968|(31,968)|||| |Charlotte|Road Building Improvements|||4,500|(4,500)|||| ||||153,035|720,689|(726,489)|||147,235| |Endowment|funds|||||||| |Permanent
endowments|||4,537,771|176,677||(224,552)|(42,458)|4,447,438| |Expendable
endowments|||6,678,961|519,186||(450,000)|(349,976)|6,398,171| ||||11,216,732|695,863||(674,552)|(392,434)|10,845,609| |Totalfunds|||14,278,016|3,402,117|(3,389,396)||(392,434)|13,898,303| ## |Designated
Property|Fund||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |This is a designated
fund representing||the net book||value ofthe charity's||one third share of1922 Charlotte||||Road, London|EC2A 3SG.| |Artist On Film|||||||||||| |This fund
isto support|the delivery of|the School's Artist on Film series.|||||||||| |Drawing Year Fund|||||||||||| |This fund
isto support|the delivery of|the School's MA level Drawing Year.|||||||||| |Alumni
& DH|||||||||||| |This fund
isto support|the professional|development||and artistic practice of|||alumni ofthe School's||Drawing|Year programme.|| |Young Artists Programme|||||||||||| |This fund
isto support|the School's Young Artists Programme||||of weekly drawing|||classes for children|and young people aged 11-18.||| |Foundation
Year Fund|||||||||||| |This fund
isto support|the delivery of|the School's Foundation|||Year.||||||| |Dumfries
House Residencies|||||||||||| |This fund
isto support|the School's artist residency|||programme|at Dumfries||House.||||| |Artists Residencies|||||||||||| |This fund
isto support|the School's international||artist residencies
programme.||||||||| |Denis Mahon|||||||||||| |This fund
isto support|the artistic practice ofan||alumnus
ofthe School's|||MA|level Drawing Year.||||| |Public Programme
General|||||||||||| |This fund
isto update|the fabric ofthe|building|at 19-22Charlotte
Road.||||||||| ## |Note
Year|s to the financial
statements
ended 31August 2020|s to the financial
statements
ended 31August 2020|s to the financial
statements
ended 31August 2020|||| |---|---|---|---|---|---|---| |11|Movement
on funds (continued)|||||| ||Endowment
Funds|||||| |||||Permanent|Expendable|Total| |||||Endowments|Endowments|Endowments| ||Current Year|||||| ||Balance brought
forward||at 1September 2019|4,447,438|6,398,171|10,845,609| ||Endowment
capital received|||||| ||Howard
& Nancy Marks||||607,096|607,096| ||Dividends
and interest|received net ofexpenses||(35,601)|86,343|50,742| |||||4,411,837|7,091,610|11,503,447| ||Change
in market value|of investments||113,743|(190,370)|(76,627)| ||Transfer to General
Fund||(note 11)||(400,000)|(400,000)| ||Total return
applied|||(224,472)||(224,472)| ||Balance carried forward|at 31August 2020||4301108|6501240|10802 348| ||Represented
by:|||||| ||Fixed Asset Investments|||4,301,108|4,872,812|9,173,920| ||Cash||||1,628,428|1,628,428| |||||4301108|6501240|10802 348| |||||Permanent|Expendable|Total| |||||Endowments|Endowments|Endowments| ||Prior Year|||||| ||Balance brought
forward||at 1September 2018|4,537,771|6,678,961|11,216,732| ||Endowment
capital received|||||| ||Anneberg||||90,798|90,798| ||Bruce & Martha
Karsh||||411,411|411,411| ||Dividends
and interest|received||176,677|16,977|193,654| |||||4,714,448|7,198,147|11,912,595| ||Change
in market value|of investments||(42,458)|(349,976)|(392,434)| ||Transfer to General
Fund||(note 11)||(450,000)|(450,000)| ||Total return
applied|||(224,552)||(224,552)| ||Balance carried forward|at 31August 2019||4,447,438|6,398,171|10,845,609| ||Represented
by:|||||| ||Fixed Asset Investments|||4,447,438|4,667,922|9,115,360| ||Cash||||1,730,249|1,730,249| |||||4,447,438|6,398,171|10,845,609| ## ## ## |yal Drawing
School
to the financial
statements
nded 31August 2020||||||| |---|---|---|---|---|---|---| |Analysis ofnet assets between|funds|||||| |||General|Designated|Restricted|Endowment|Total| |||Fund|Fund|Funds|Funds|Funds| |Currentyear||2020|2020|2020|2020|2020| |||6|6|6|6|E| |Fixed assets||48,754|2,189,220|57,561|9,173,920|11,469,455| |Net current assets||670,979||36,332|1,628,428|2,335,739| |||719,733|2,189,220|93,893|10,802,348|13,805,194| |||General|Designated|Restricted|Endowment|Total| |||Fund|Fund|Funds|Funds|Funds| |Prior year||2019|2019|2019|2019|2019| |||||||E| |Tangible fixed assets||54,844|2,219,887|126,633|9,115,360|11,516,724| |Net current assets||630,728||20,602|1,730,249|2,381,579| |||685,572|2,219,887|147,235|10,845,609|13,898,303| ## ## |||31-Aug-20|31-Aug-19| |---|---|---|---| |Land and|buildings|6|f| |Payable|within one year|27,535|17,001| |Payable|in two to five years||| |||31-Aug-20|31-A ug-19| |Photocopier|||| |Payable|within one year|3,964|5,420| |Payable|in two to five years||3,964| ##