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2021-10-31-accounts

Page
Legal and Administrative Information
The Report ofthe Trustees 2-6
Statement ofTrustee Responsibilities
Independent Auditor's Report 8-10
Statement of Financial Activities
Balance Sheet 12
Statement ofcash flows 13
Notes to the Financial Statements 14-25

TOOLS WITH A MISSION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TOOLS WITH A MISSION We also obtsined an under5tsnding of the 8ppIic8ble laws and regulations to which the charity mu81 adher8, through discussions with management and Ih05e charged with govemantt, as well as commerGial kn0￿8d9e of th8 sector and slatutory legislation, in order to determine the kEy laws and ￿gUlationS applicable lo the acaderny ITU5t Our avditwork Includ8d'. Auditing the risk of management override of controls, including through le5ting joumal entries and other 8diustm&nls for appropnateness, and evdlualing the rationale behind significant transactions outside the nortnal course of business. - Assessment of key accounting estimates within the financial $latemants In ord8r to ass885 their rea50nableness to determing whether there is ally bias in the estimates. Revi8w of meeting minutes. Review of Internal Strutiny ￿portS. Enquiring of rDan8gement ynd TrustÈÈs as lo whether they are aware of any alleged. sUSPèCted or actu81 fraud during the year. We H150 performed procedur8S to satisfy OurS￿veS regar¢Jing the academy trust's compliance with applicable la￿ regulalions. InGluding-. Enquiry of TNstees, managernent the entity's sollcitors around actual and potential litigation and clalms Reviewng correspondence wlth r818vant18gal authorities All audit team tnembets were mad8 aw8r8 of the applicable law5 and regvlations. as w811 as polenlkql frsud risk5 du￿ng the pLHnning stage of the audit and this was discussed al the audit team planning meeting. 11 was therefore deterTnined that team memb8rs all had the relevant awa￿neSS and comp&lence to identify any in51ance5 of non-compliance or fraud. There are, however. inherent limitations 10 our above audit procedur85. Auditing standard5 only rÈ4uire u8 to ènquir& of Trustees and management regardin9 non-compliance with laws and regu181ions, as well as review rÈgulatr)ry and ￿gaI correspondenGP lif ther8 is any). 11 is therefore possible that Instances of non-compli8nce COU￿ be missed. particularly where the law in itself Is far removed from any financial transactions. A further desCThPtion of our resptsnsibilili88 for the audit of the financial statemÈnts is k)cat8d on the Financial R8POrting Council's website at.. hltp.'Ilwww.frc.org.uklOur-WorklAudiVAudil-8nd-assurancelStandards-and-guidanc8lStandards-Ènd- guidance-for4udltorslAudilors-responsibililie5-for-audiVDescriptitrn-of-audilors-responsibililies-for-audrt 35px This desGriPtion forms part of our auditorfs r8POrt. Use of our report Thls report is made solely to the chaiitablÈ company's members, as a body, in accordance with Chapt2r 3 of part 16 of the Companies Act 2006. Our auclit work has been undertaken so that w8 might s18te lo the Gharilable company's members an trustees those matters we are required to state lo them in an 8udilorfs report and for no other purpose. To ihe fvllèst Èxlenl permitted by law. we do not acc&pt or assume responsibility to anyone other than the charitsble wmpany. the charilable company's metnbers as a body and th8 charitsble company'5 tru51ee5 as a bady, fDr our audit work, for this report, or for the opinions we have fottned. Helen Rumsey FCA (Senior Statutory Audltorl For and on behalfof Ensors Accountants LLP conne￿On8 1s9 Prints8s Street Ipswich IP1 1QJ Datsd.. 10

Unrestricted Restricted Total Total
funds funds 2021 2020
Notes
Income and endowments from:
Donations
and legacies		 348,494 90,316 438,810 406,872
Charitable
activities		 95,068 102,703 197,771 133,551
Investments 21 21 266
Other income 16,616 16,616 66,152
Total income and endowments 460,199 193,019 653,218 606,841
Expenditure
on:
Raising funds 30,171 30,171 39,628
Charitable
activities		 317,229 125,428 442,657 471,947
Total resources expended 347,400 125,428 472,828 511,575
Net gains on investments 10,115 10,115 661
Net incoming/(outgoing) resources
before transfers 122,914 67,591 190,505 95,927
Transfers
between		 funds
Net incoming/(outgoing) resources 122,914 67,591 190,505 95,927
Fund balances
at 1		 November 2020 556,171 65,065 621,236 525,309
Fund balances at 31 October 2021 679,085 132,656 811,741 621,236

2021 2020
Notes
Fixed assets
Tangible assets 13 302,318 274,856
Investments 14 98,491 18,376
400,809 293,232
Current assets
Debtors 15 14,404 27,367
Cash at bank and in hand 472,943 403,094
487,347 430,461
Creditors: amounts falling due within 16
one year (76,415) (102,457)
Net current assets 410,932 328,004
Total assets less current liabilities 811,741 621,236
Income funds
Restricted funds 18 132,656 65,065
Unrestricted funds 18 679,085 556,171
811,741 621,236

2021 2020
Notes
Cash flows from operating
activities
Cash generated
from operations		 24 183,344 139,906
Cash flows from Investing
activities
Purchase
oftangible
fixed assets		 (48,516) (17,163)
Proceeds on disposal
of tangible
fixed assets		 5,000
(Purchase)/Disposal
of investments		 (70,000) 40,000
Interest received 21 266
(113,495) 23,103
Net Increase
in cash and cash equivalents		 69,849 163,009
Cash and cash equivalents
at the beginning		 of the year 403,094 240,085
Cash and cash equivalents
at the end ofthe year		 472,943 403,094

3 Donations
and lega		 cies
Unrestricted Restricted Total Total
funds funds 2021 2020
Donations
and gifts		 316,407 90,316 406,723 327,525
Legacies receivable 32,087 32,087 79,347
348,494 90,316 438,810 406,872
For the year ended 31 October 2020 371,077 35,795 406,872
4 Charitable
activities		 Unrestricted Restricted Total Total
funds funds 2021 2020
Sales within
charitable		 activities 95,068 102,703 197,771 133,551
For the year ended 31 October 2020 76,097 57,454 133,551
5 Investments
Unrestricted Restricted Total Total
funds funds
f		 2021
F		 2020
Interest receivable 21 21 266
For the year ended 31 October 2020 266 266

6 Other income
Unrestricted Restricted Total Total
funds funds 2021 2020
COVID-19 grant
Babcock grant		 500 500 10,000
500
VAT refund 43,141
Furlough
grant		 16,116 16,116 12,511
16,616 16,616 66,152
Forthe year ended 31 October 2020 53,641 12,511 66,152

Raising funds
Unrestricted Restricted Total Total
funds funds 2021 2020
Publicity and fund raising 24,573 24,573 21,349
Regular mailings 5,598 5,598 18,279
30,171 30,171 39,628
For the year ended 31 October 2020 39,628 39,628

Unrestricted Restricted Total Total
8 Charitable
activities		 funds funds 2021 2020
Staff costs (see note 11) 158,275 12,821 171,096 169,651
Rent and rates 19,271 19,271 32,254
Insurance 11,853 11,853 2,950
Light and heat 10,013 10,013 11,533
Postage and telephone 7,003 7,003 16,406
Printing
and stationery		 2,873 2,873 4,036
Sundries 4,326 4,326 2,674
Tools, haberdashery purchases & refurbishment 15,169 15,169 30,098
Carriage
and packaging		 5,535 5,535 4,004
Vehicle fuel and servicing 23,757 23,757 25,872
Premises
repairs and		 renewals 5,456 5,456 5,695
Cleaning
and trade refuse		 3,590 3,590 3,829
Scholar packs 1,034 1,034 17
Overseas
freight		 4,623 102,704 107,327 67,646
Travelling 598 598 5,422
Legal and professional charges 12,098 12,098 18,025
Audit and accountancy fees 5,421 5,421 9,650
Health and safety 6,976 6,976 8,403
Depreciation 12,183 8,869 21,052 28,413
Profit or loss on disposal (5,000) (5,000)
Bank charges 3,355 3,355 3,460
In country development costs 9,854 9,854 21,909
317,229 125,428 442,657 471,947
For the year ended 31 October 2020 375,320 96,627 471,947
9 Net gains on investments Unrestricted
funds		 Restricted
funds		 Total
2021		 Total
2020
Gain on listed investments 10,115 10,115 661
For the year ended 31 October 2020 661 661

Unrestricted Restricted Total Total
10 Net incoming/(outgoing) resources funds funds 2021f 2020
F
This is stated after charging:
Depreciation 12,183 8,869 21,052 28,413
Fees payable to the Charity's
auditors
for the
audit ofthe Charity's
financial statements		 5,400 5,400 5,200
11 Staff costs Unrestricted Restricted Total Total
funds funds 2021 2020
Wages and salaries 140,587 12,210 152,797 147,610
Social security costs 9,843 9,843 10,121
Pension costs 6,771 611 7,382 9,643
Staff recruitment
costs		 61 61
Staff training 1,013 1,013 2,277
158,275 12,821 171,096 169,651

13 Tangible fixed assets Tangible fixed assets
Land and Motor Fixtures, Total
buildings vehicles 8 fittings 8
plant equipment
Cost
At 1 November
2020		 331,111 78,702 47,189 457,002
Additions 44,080 4,436 48,516
Disposals (19,482) (19,482)
At 31 October 2021 331,111 103,300 51,625 486,036
Depreciation
and impairment
At 1 November
2020		 88,450 66,194 27,502 182,146
Depreciation
charged		 in the year 6,622 7,538 6,892 21,052
Eliminated
on disposals		 (19,480) (19,480)
At 31 October 2021 95,072 54,252 34,394 183,718
Carrying
amount
At 31 October 2021 236,039 49,048 17,231 302,318
At 31 October 2020 242,661 12,508 19,687 274,856
14 Investments 2021 2020
CCLA Pooled Investment Funds —Market value 98,491 18,376
—Historical cost 80,000 10,000
Value as at 1 November 2020 18,376
Additions 70,000
Change
in market value		 10,115
Value as at 31October 2021 98,491

ebtors: amo unts
falling due within one year
2021 2020
Gift aid 7,648 7,464
Prepayments and accrued income 6,756 19,903
14,404 27,367
reditors: amounts
falling due within one year
2021 2020
Taxation and social security 3,805 3,351
Other creditors 13,193 7,584
Accruais 5,933 12,547
Deferred freight income 53,484 78,975
76,415 102,457

Balance at 1 Deposits Released to Balance at 31 Oct
Nov 2020 received income 2021
F
Charitable activities 78,975 77,213 (102,704) 53,484

18 Movement
in		 funds
At 1 Incoming Outgoing Transfers At 31
November resources resources October
2020 2021
Unrestricted funds
General
fund		 556,171 470,314 347,400 679,085
Restricted
funds
Overseas
freight		 102,704 (102,704)
Van appeal 35,292 83,536 (7,538) 111,290
Boiler 3,999 (1,330) 2,669
Scholarship
packs		 1,034 (1,034)
Sheldon appeal 24,740 6,779 12,822 18,697
65,065 193,019 (125,428) 132,656
Total funds 621,236 663,333 (472,828) 811,741
At 1 Incoming Outgoing Transfers At 31
November resources resources October
2019 2020
Unrestricted funds
General fund 499,253 471,866 (414,948) 556,171
Restricted funds
Overseas
freight		 57,454 (57,454)
Van appeal 20,230 29,876 (14,814) 35,292
Boiler 5,330 (1,331) 3,999
Scholarship packs 496 557 (19) 1,034
Furlough
income
Sheldon appeal		 12,511
35,238		 (12,511)
~10,498		 24,740
26,056 135,636 (96,627) 65,065
Total Funds 525,309 607,502 (511,575) 621,236

Unrestricted Restricted Total
Fund balances at 31 October 2021 are represented by:
Tangible fixed assets 250,606 51,712 302,318
Fixed asset investments 98,491 98,491
Current assets/(liabilities) 329,988 80,944 410,932
679,085 132,656 811,741
Fund balances
at 31 October 2020 are represented		 by:
Tangible assets 258,351 16,505 274,856
Fixed asset investments 18,376 18,376
Current assets/(liabilities) 279,444 48,560 328,004
556,171 65,065 621,236

2021 2020
Surplus/(Deficit) for the year 190,505 95,927
Ad ustments
for:
Investment
income recognised
in statement		 of financial activities (21) (266)
Fair value gains and (losses) on investments (10,115) (661)
Depreciation
and		 impairment
oftangible		 fixed assets 21,052 28,413
Gain on disposal oftangible
fixed assets		 (5,000)
Movements
in workin
ca ital:
(Increase)
/ decrease
in debtors		 12,963 (3,021)
Increase
/ (decrease)
in creditors		 (26,040) 19,514
Cash generated from operations 183,344 139,906