, 

REGISTERED COMPANY NUMBER: 05212585 (England and Wales) REGISTERED CHARITY NUMBER: 1106136 

REPORT OF THE TRUSTEES AND 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 

FOR 

HAMPSHIRE CHRISTIAN EDUCATION TRUST 



HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 

|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|8|
|Report ofthe Independent Auditors|9|to|10|
|Statement of Financial Activities||11||
|Balance Sheet||12||
|Cash Flow Statement||13||
|Notes to the Cash Flow Statement||14||
|NotestotheFinancialStatements|15|to|26|





## HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

## OBJECTIVES AND ACTIVITIES 

## Objectives and aims 

- A) The advancement of education on the basis of Christian principles in the county of Hampshire and elsewhere including (but not by way of limitation) the provision of such education in any educational establishment for the general education of children or adults on the basis of such Christian principles as the trustees may from time to time think fit; 

- B) The advancement of the Christian faith in accordance with the doctrines set out in the schedule to the articles and the worship of God in the county of Hampshire and elsewhere as the trustees may from time to time think fit including (but not by way of limitation) the preaching and proclamation of the Christian gospel and the teaching of Christian doctrine and principles and other such purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the charity. 

- C) The relief of persons who are in conditions of hardship or distress or who are aged or sick in the county of Hampshire and elsewhere as the trustees may from time to time think fit. 

## Significant activities 

The Trust runs The King's School which has a primary department and senior department, based on two sites up until July 2010, but now located on one site. 

## Volunteers 

The school has voluntary help from parents and others in a wide range of activities, including the construction of the new facilities, governorship, and learning support. 

## Public benefit 

The King's School provides benefit to the public within Hampshire by providing an excellent education based on Christian principles for children aged 4 to 16. Fees are intended to be affordable for families on average incomes and are deliberately kept below the normal rates for similar independent schools. In addition, the school offers bursary assistance to families on low income (to the value of £354k in year ending 31 August 2020). 

Children are drawn from families across the full range of Christian denominations as well as a proportion from families with no church connections. There are no academic selection criteria and whenever possible the school will accommodate pupils with learning difficulties and physical disabilities. There has been an increase in educational support for children with additional needs and improvements to the site for disabled access. 

The school has managed to remain open for keyworker and vulnerable children throughout the pandemic apart from a few days at the end of March 2020 and a week after the Autumn half term when it was felt wise to close for an additional week due to a small number of both staff. and pupils returning positive coronavirus tests. Remote learning was available throughout. The King's School is also actively involved in supporting the development of education in other nations, in particular Rwanda, though most of the financial support is through a separate charitable fund (Equip UK) and does not draw significantly on school resources. This also provides a significant opportunity for personal development for the pupils through annual trips to Rwanda. 

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HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 

## ACHIEVEMENT AND PERFORMANCE 

## Charitable activities 

In March 2017 the school underwent its first inspection by the Independent Schools Inspectorate (ISI). The ISI undertake two different types of inspection; this was a regulatory compliance inspection which looks at to see if all 8 standards are met or not met. We were delighted that all standards had been met. 

The school's staff and pupils have risen to the challenge of taking on some children with severe physical or learning disabilities. This has gone very well with the children becoming well integrated into the school community. 

Academic attainment remains strong with 93% of pupils attained 5 or more standard grade GCSE results in August 2020. As a non-selective school, the grades achieved vary from year to year, however the school ensures that those who are able achieve the good grades that they deserve. 

The school continues to increase the availability of technology with the provision of more laptops to staff and the provision Chromebooks throughout the school. 

The school has continued to develop links with similar Christian schools in other nations, in particular Rwanda where we have a good relationship with schools in Kigali. No trip was undertaken in 2019/20 nor in 2020/21 due to the Covid pandemic. The trips undertaken by pupils and staff to Rwanda school have provided outstanding opportunity for personal development and for assisting children in Rwanda in line with the Trust's objects. It is hoped that this will be possible in Spring 2022. 

In recent years a Parents’ Association has been formed whose aim is to engage with more parents from the school and also to arrange several events during the year to raise funds for the school. Due to the pandemic few of the usual events were run during this year. However, their efforts still resulted in a few hundred pounds being raised. 

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## HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 

## FINANCIAL REVIEW 

## Financial Review 

The trust's income in the year ending 31 August 2020 was £1.64 million in comparison to the previous year (1.5 million) an 10% increase, The majority of the income was from school fees and extracurricular activities, and the remainder was from donations and the gift aid claimed on these. 

Total expenditure for the year ending 31 August 2020 was £1.38 million, (£1.39 million). This resulted in a surplus of £266k. 

The majority of expenditure was on the costs of charitable activities which are divided between: 

- (A) The direct costs of education (e.g. staffing, resources, activities) which amounted to £1,095k, a very small decrease from the previous year. The largest component was staff costs of £654k which was £61k more than the previous year. Staffing was mainly increased due to more pupils with educational needs requiring one to one support and the increase in pupil numbers such that more classes were split. The second largest area of direct cost was bursary awards which remained static at £354k. A conscious decision was taken to ensure that bursaries awarded were accurate such that it would be anticipated that there should be little or no bad debts generated. Bad debts were decreased to around £3k. 

- (B) Support costs (e.g. support staff wages, general overheads, mortgage interest) decreased from £278k to £266k. 

A number of Key Performance Indicators are being used to plan and improve financial performance. One of these is the ratio of staff costs to net fee income for which the target is 60-65%. The ratio in the year ending August 2020 was 61% which has been achieved due to the high numbers of pupils who joined during the year. 

Salary levels are set annually. Key management personnel are paid less than would be expected within the state sector at rates of between 65 -75% of the minimum salaries based on DfE figures. The school has a desire to increase salaries such that all staff, are paid at more inline with those in the state system. However, this will be a gradual process and not something that can be achieved currently. The level of school fees owed at the end of the year increased to £26k in comparison to £14k in the previous year, The increase was mainly due to a couple of families who for one reason or another had delayed making payment and for some delayed payments due to covid. Bad debts, which had to be written off, decreased to around £3k 

The trading surplus and a revaluation of the property contributing £536,343 to the surplus has resulted in a further improvement in the balance sheet. Total funds at 31 August 2020 were £1,862k - a positive movement of over £802k on the previous year 

Net current assets increased by £207k to a total of £230k. This was due to continuing to pay off debt (both bank and personal stakeholders) and the increased cash balance. This is a positive move and it is hoped that this will increase in future years. During the year the advance fees balance increased to £273k (£256k). This figure includes pupil deposits that are held. The increase is therefore mainly due to the increased pupil numbers. Advance fees are not positively sought from parents as the school does not wish to be reliant on them, however, some parents who have the money to pay in advance are then able to have peace of mind that their child's fees are paid for a defined period. 

Stakeholder debt decreased by £100k in the year, the majority of this being paid in Autumn 2019, based on the previous year performance. 

## Reserves Policy 

The Trust has most of its reserves in the buildings (Lakesmere House and the Homelodge building) which were valued at £2.1 million in August 2020. The gain on revaluation was £536k and £51k of this is in the revaluation reserve as at the year end. 

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HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 

It is the aim of the Trustees to has been to build up reserves to a level equal to three month's expenditure. However, it is now thought prudent to increase this to 6 months and therefore a value of free reserves of £540k is the aim (monthly expenditure is currently around £90k). Currently net current assets are £230k. 

## There are no restricted funds. 

There are currently no designated funds - However the school plan to replace the existing primary temporary buildings with a permanent structure and it is therefore hoped that an amount of £50k per annum could be put aside for this, with a view to starting the building in around 5 years time. 

Some of the reserves currently held are anticipated to be used towards building a MUGA pitch in the summer of 2021. Fundraising is also to occur to reduce the requirement for current school funds as much as possible. 

## Principal Funding Sources 

Operational costs are met primarily from school fees which are set at an affordable rate for the target market. Additional funding comes from donations. 

The capital projects are now funded from cash reserves which are backed by a bank mortgage, personal ‘stakeholder’ loans and advance fee payments. 

## Future plans 

The focus for the future will be to continue to strive for excellence in the educational provision and to market the school effectively so that all 300 places are taken. With the desire to begin with 15 pupils in Year R, with increasing pupils up to Year 6 and for Year 7 to start with 30 pupils such that each senior year can be split into two form entry. Longer term aims include a purpose-built primary unit to replace some temporary buildings on the school site. 

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 1985. Amended articles of association were agreed by special resolution in January 2013. 

## Recruitment and appointment of new trustees 

The memorandum and articles of association allows for the trustees to pass a resolution to appoint new trustees and to vary the number of trustees (minimum of three). A memorandum of the resolution would be signed by the chairman and attested by two persons present at the meeting. Any person appointed as a trustee must fully accept the doctrines set out in the memorandum and articles of association. Organisational structure Trustees Governors Head Teacher ’ : Leadership Team 3 , 

## Teaching Staff 

## Administration and Finance 

The school was located on two sites until July 2010 (primary and secondary), but has since been consolidated on one site. 

Induction and training of new trustees 

Induction and training of new trustees is carried out by meetings with other trustees and key people, review of key documents and involvement in the life of the school. 

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## HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## Wider network 

The school joined the Independent Schools Association (ISA) in September 2016 which not only enables the school to access a wealth of advice but also means that the school will no longer be inspected through Ofsted. Instead the Independent Schools Inspectorate (ISI) undertake the inspections, the most recent being in 2017, 

Hampshire Christian Education Trust is affiliated to a number of other charitable and educational organisations including: 

- Equip UK: promoting Christian education in Rwanda (www.equipuk.org) 

- Southampton Christian Network: a network of Christian churches and organisations in the Southampton area (www.southamptonchristiannetwork.org.uk) 

- Christian Schools Trust (CST): is a registered charity and a group of independent Christian schools working together aiming towards putting God back in His rightful place in the centre of the process of education. (www.christianschoolstrust.co.uk) 

We also have good relationships with local churches, other local schools and a growing number of schools _ in other nations. 

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HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 

## STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management 

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. 

The main risks identified by the Trustees are set out below. These are not all new risks to the trust and have been successfully managed in previous years by exercising care in budgeting and decision-making. 

The main risks at present are connected with the external economy. 

- 1) The current world-wide pandemic has meant that the school has been in part closed since the end of the Spring Term 2020. It was open for the Autumn Term but is currently closed again other than for keyworker and vulnerable children, with all other pupils being educated remotely by means of Google Classroom and other platforms. Most families appear to have survived the pandemic, so far, reasonably unscathed financially and no wide scale fee reductions have been necessary. However, a number of families have been given fee reductions bursaries either for specified periods or ongoing with reviews planned to occur in due course. These are being dealt with individually. The school furloughed many of the ancillary staff during April and May 2020, bringing most staff back in for June when the school partially re-opened for Primary and Senior. The job retention scheme enabled the school to claim around £28k from the HMRC. With the current healthy bank balances and the majority of parents managing to pay fees, it is not felt that the pandemic will pose too much of a risk to the school. 

- 2) Pupil numbers during this year have increased ending the year 2019-20 at 246. This is due in part to a local independent school suddenly closing in June 2020. Going forward pupil numbers are uncertain and it is anticipated that pupil numbers will probably reduce a little for the start of the 2021-22 academic year. 

- 3) To mitigate any possible reduction in pupil numbers there is a continuing focus on excellence in the educational provision. Improving marketing continues to be a priority to draw new pupils to the school. The majority of new pupils coming from within the larger church community and by word of mouth. 

- 4) The proportion of pupils requiring bursaries has stabilised with improved processes for awarding and reviewing bursaries. However, this still represents a risk to the school's income. 

- 5) External factors have increased the risk of existing parents defaulting on fee payments. This risk has been managed well by continuing to ensure that a member of staff is given time to keep abreast with credit control, 

- 6) It is proving harder to raise charitable donations from the existing supporters of the school. Fund raising activity will therefore be developed to seek donations and grants from a wider range of potential donors. A parent association endeavours to bring a greater involvement from this group to raise funds and awareness of the school. 

- 7) Future rise in interest payments on the trust's borrowing are also a potential risk. 8) All of the above give rise to a risk of cashflow problems. Alongside prudent budgeting and regular monitoring, we have the ability to improve cashflow through collecting advance fee payments. 

- Other risks arise from the financing of the building project which was completed in August 2010. 

- 1) The requirement to repay personal loans was a risk, however the remaining £70k was paid in January 2021, 

- 2) The use of advance fee payments for the final stages of the building project has a potential impact on cashflow over the next few years. The budget has been set to gradually reduce the amount of advance fees held on the balance sheet. They are now at a value that is likely to remain reasonably constant. 

## REFERENCE AND ADMINISTRATIVE DETAILS 

## Registered Company number 

05212585 (England and Wales) 

Registered Charity number 1106136 

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## HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 

Registered office The King's School Senior Lakesmere House Allington Lane, Fair Oak Eastleigh Hampshire $050 7DB 

## Trustees 

S F Kinchin - Chair D Martin C Caws J Pavey N Osborne 

Company Secretary Mrs M D Walker 

## Auditors 

Martin Southern BA(Hons) FCA Morris Crocker Limited Chartered Accountants Statutory Auditors Station House North Street Havant Hampshire POS 1QU 

Bankers Barclays Bank Portsmouth City Branch Portsdown Group PO Box 6 Portsmouth Hampshire PO6 7DB 

## COMMENCEMENT OF ACTIVITIES 

The charity which has been trading since 1995, was incorporated as a Company limited by guarantee, in August 2004. Dormant company accounts were prepared for the year to 31 August 2005 and the running of the school transferred to the new charitable company on 1 September 2005. 

## STATEMENT OF TRUSTEES' RESPONSIBILITIES 

The trustees (who are also the directors of Hampshire Christian Education Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

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HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 

## STATEMENT OF TRUSTEES RESPONSIBILITIES - continued 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the trustees are aware: 

- there is no relevant audit information of which the charitable company's auditors are unaware; and 

- - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

## AUDITORS 

The auditors, Morris Crocker Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. 

Approved by order of the board of trustees on seer...AL AON,1 IASAON, and signed on its behalf by: 

## MrsMDWalker-Secretary 

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## REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## Opinion 

We have audited the financial statements of Hampshire Christian Education Trust (the ‘charitable company’) for the year ended 31 August 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 

## In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 August 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## Basis for opinion 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## Conclusions relating to going concern 

- We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: 

- the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or 

- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. 

## Other information 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 

## Opinions on other matters prescribed by the Companies Act 2006 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Report of the Trustees has been prepared in accordance with applicable legal requirements. 

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## Matters on which we are required to report by exception 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. 

## Responsibilities of trustees 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

## Use of our report 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 


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## Martin Southern BA(Hons) FCA (Senior Statutory Auditor) 

for and on behalf of Morris Crocker Limited Chartered Accountants Statutory Auditors Station House North Street Havant Hampshire POS 1QU 

cc ee |). 

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HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2020 

|||||2020|2019|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
||Notes|£|£|2|E|
|INCOME AND ENDOWMENTS FROM||||||
|Donations and legacies|2|22,132|-|22,132|30,814|
|Charitable activities|5|||||
|Advancement ofeducation||1,581,137|28,132|1,609,269|1,452,766|
|Other trading activities|3|4,859|-|4,859|5,444|
|Investment income|4|8,444|-|8,444|ato|
|Total||1,616,572|28,132|1,644,704|1,502,297|
|EXPENDITURE ON||||||
|Raising funds|6|11,496|-|11,496|11,439|
|Charitable activities|7|||||
|Advancement ofeducation||1,339,016|28,132|1,367,148|1,383,039|
|Total||1,350,512|28,132|1,378,644|1,394,478|
|NET INCOME||266,060|-|266,060|107,819|
|Other recognised gains/(losses)||||||
|Gains on revaluation offixed assets||536,343|-|536,343|-|
|Net movement in funds||802,403|-|802,403|107,819|
|RECONCILIATION OF FUNDS||||||
|Total funds broughtforward||1,060,085|-|1,060,085|952,266|
|TOTALFUNDSCARRIEDFORWARD||1,862,488|-|1,862,488|1,060,085|



The notes form part of these financial statements 

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## HAMPSHIRE CHRISTIAN EDUCATION TRUST (REGISTERED NUMBER: 05212585) 

BALANCE SHEET 

31 AUGUST 2020 

|||2020|2019|
|---|---|---|---|
||Notes|£|£|
|FIXED ASSETS||||
|Intangible assets|14|1,800|2,700|
|Tangible assets|15|2,128,261|1,624,469|
|||2,130,061|1,627,169|
|CURRENTASSETS||||
|Debtors|16|58,264|44,530|
|Cash at bank||604,296|520,299|
|||662,560|564,829|
|CREDITORS||||
|Amounts falling due within one year|17|(432,280)|(541,236)|
|NETCURRENTASSETS||230,280|23,593|
|TOTAL ASSETS LESS CURRENT||||
|LIABILITIES||2,360,341|1,650,762|
|CREDITORS||||
|Amounts falling due aftermore than one year|18|(497,853)|(590,677)|
|NETASSETS||1,862,488|1,060,085|
|FUNDS|22|||
|Unrestricted funds||1,862,488|1,060,085|
|TOTALFUNDS||1,862,488|1,060,085|



These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. 

The financial statements were approved by the Board of Trustees and authorised for issue on weld Qt faO.Aa\......... and were signed on its behalf by: 


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The notes form part of these financial statements 

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## HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020 


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|||||||||
|---|---|---|---|---|---|---|---|
|2020|2019|
|Notes|£|£|
|Cash|flows|from|operating|activities|
|Cash|generated|from|operations|1|124,824|166,236|
|Interest|paid|(17,612)|(18,738)|
|Finance|costs|paid|(11,197)|(9,411)|
|Net|cash|provided|by|operating|activities|96,015|138,087|
|Cash|flows|from|investing|activities|
|Purchase|of tangible|fixed|assets|(20,462)|(26,908)|
|Interest|received|1,328|1,205|
|Finance|interest|income|7,116|12,068|
|Net|cash|used|in|investing|activities|(12,018)|(13,635)|
|Change|in|cash|and|cash|equivalents|
|in|the|reporting|period|83,997|124,452|
|Cash|and|cash|equivalents|at the|
|beginning|of the|reporting|period|520,299|395,847|
|Cash|and|cash|equivalents|at the end|
|of the|reporting|period|604,296|520,299|

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The notes form part of these financial statements 

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HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020 

|ie|RECONCILIATION OF NET INCOME TO NETCASH FLOW FROM OPERATING ACTIVITIES|RECONCILIATION OF NET INCOME TO NETCASH FLOW FROM OPERATING ACTIVITIES|RECONCILIATION OF NET INCOME TO NETCASH FLOW FROM OPERATING ACTIVITIES|RECONCILIATION OF NET INCOME TO NETCASH FLOW FROM OPERATING ACTIVITIES|RECONCILIATION OF NET INCOME TO NETCASH FLOW FROM OPERATING ACTIVITIES|
|---|---|---|---|---|---|
|||||2020|2019|
|||||Ee|E|
||Net income forthe reporting period (as pertheStatement of|||||
||Financial Activities)|||266,060|107,819|
||Adjustments for:|||||
||Depreciation charges|||53,013|52,511|
||Interest received|||(1,328)|(1,205)|
||Interest paid|||17,612|18,738|
||Finance costs|||11,197|9.411|
||Amortisation charges|||900|900|
||Finance interest income|||(7,116)|(12,068)|
||(Increase)/decrease in debtors|||(13,734)|3,804|
||Decrease in creditors|||(201,780)|(13,674)|
||Net cash provided by operations|||124,824|166,236|
|2.|ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS|||||
|||At|1.9.19|Cash flow|At 31.8.20|
||||£|£|EF|
||Net cash|||||
||Cash at bank|520,299||83,997|604,296|
|||520,299||83,997|604,296|
||Debt|||||
||Debts falling due within 1 year|(218,427)||99,749|(118,678)|
||Debts falling due after 1 year|(502,364)||59,054|(443,310)|
|||(720,791)||158,803|(561,988)|
||Total|(200,492)||242,800|42,308|



The notes form part of these financial statements 

Page 14 



HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 

## Ni 

## ACCOUNTING POLICIES 

## Basis of preparing the financial statements 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets, 

## Going concern 

The trustee directors consider that there are no material uncertainties regarding the charitable company's ability to continue as a going concern. 

## Income 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## Expenditure 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## Tangible fixed assets 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Freehold property - 10% on cost and 2% on cost Plant and machinery - 20% on cost Fixtures and fittings - 20% on cost Computer equipment - 33% on cost 

Individual fixed assets costing £500 or more are capitalised at cost, with the exception of computer equipment which is capitalised if the individual cost is £250 or more. 

## Taxation 

The charity is exempt from corporation tax on its charitable activities. 

## Fund accounting 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## Hire purchase and leasing commitments 

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. 

Page 15 

continued... 



HAMPSHIRE CHRISTIAN EDUCATION TRUST 

1. ACCOUNTING POLICIES - continued 

## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2020 

## Pension costs and other post-retirement benefits 

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

## Financial instruments 

The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable investments in stocks and shares. The measurement basis used for these financial instruments is detailed below. 

## Debtors and cash at bank & in hand 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and_ in hand includes cash held on deposit or in a current account. 

## Creditors and provisions 

Creditors and provisions are recognised where the charitable company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

|2.|DONATIONS AND LEGACIES|||
|---|---|---|---|
|||2020|2019|
|||£|£|
||Donations|18,087|27,157|
||Gift aid|4,045|3,657|
|||22,132|30,814|
|3.|OTHERTRADING ACTIVITIES|||
|||2020|2019|
|||£|£|
||Fundraising events|4,859|5,444|
|4,|INVESTMENT INCOME|||
|||2020|2019|
|||£|23|
||Deposit account interest|1,328|1,205|
||Finance interest income|7,116|12,068|
|||8,444|13,273|



All investment income is derived from assets held in the United Kingdom. 

Page 16 

continued... 



## HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020 

|5.|INCOME FROM CHARITABLE ACTIVITIES|INCOME FROM CHARITABLE ACTIVITIES|||||
|---|---|---|---|---|---|---|
||||||2020|2019|
||School fees and bursaries<br>School trips and sales|Activity<br>Advancement ofeducation<br>Advancement ofeducation|education<br>education||2<br>4,543,242<br>33,234|£<br>1,361,853<br>82,317|
||Rental income|Advancement ofeducation|education||1,830|1,815|
||Sundry income|Advancement ofeducation|education||2,831|6,781|
||Grants|Advancement ofeducation|education||28,132|-|
||||||1,609,269|1,452,766|
||Grants received, included in|the above, are as|follows:||||
||||||2020|2019|
||||||£|£|
||Job retention scheme||||28,132|-|
|6.|RAISING FUNDS||||||
||Raising donations and legacies||||||
||||||2020|2019|
||||||£|£|
||Sundries||||299|2,028|
||Finance cost||||11,197|9,411|
||||||11,496|11,439|
|re|CHARITABLE ACTIVITIES|COSTS|||||
|||||Direct|Support||
|||||Costs (see|costs (see||
|||||note 8)|note 9)|Totals|
|||||£|£|£|
||Advancement of education|||1,095,897|271,251|1,367,148|
|8.|DIRECT COSTS OF CHARITABLE ACTIVITIES||||||
||||||2020|2019|
||||||£|fi|
||Staff costs||||654,661|593,578|
||Educational resources||||34,916|38,925|
||Trips, camps and events||||25,761|83,267|
||Training||||1,964|6,450|
||DBS and licences||||7,976|6,841|
||Fundraising costs||||16,576|16,251|
||Bursaries||.||354,043|354,305|
||||||1,095,897|1,099,617|



Page 17 

continued... 



HAMPSHIRE CHRISTIAN EDUCATION TRUST 

9. SUPPORT COSTS 

## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2020 

|SUPPORT COSTS||||
|---|---|---|---|
|||Governance||
||Management|costs|Totals|
||E|£|£|
|Advancement of education|266,439|4,812|271,251|
|Support costs, included in the above, are as follows:||||
|Management||||



||Management|||
|---|---|---|---|
|||2020|2019|
|||Advancement||
|||of|Total|
|||education|activities|
|||£|va|
||Wages|80,900|76,208|
||Hire of plant and machinery|16,936|14,185|
||Rates and water|11,454|17,336|
||Insurance|16,935|19,036|
||Lightand heat|8,326|8,730|
||Minibus and car park expenses|2,697|3,998|
||Legal and professional fees|10,804|6,495|
||Repairs and maintenance|19,849|20,600|
||Stationery, postage and phone|17,911|29,329|
||Sundryexpenses|5.417|5,097|
||Bad debts|2,664|5,908|
||Donations|1,020|1,634|
||Amortisation of intangible fixed assets|900|900|
||Depreciation oftangible assets|53,014|50,512|
||Bank interest|1,855|1,858|
||Mortgage interest|13,537|12,818|
||Loan interest|2,220|4,062|
|||266,439|278,706|
||Governance costs|||
|||2020|2019|
|||Advancement||
|||of|Total|
|||education|activities|
|||£|£|
||Auditors’ remuneration|4,812|4,716|
|10.|NET INCOME/(EXPENDITURE)|||
||Netincome/(expenditure)isstatedaftercharging/(crediting):|||



||2020|2019|
|---|---|---|
||£|i|
|Auditors' remuneration|4,812|4,716|
|Depreciation -owned assets|53,013|52,511|
|Hire of plant and machinery|16,936|14,185|
|Websiteamortisation|900|900|



Page 18 

continued... 



HAMPSHIRE CHRISTIAN EDUCATION TRUST 

11. TRUSTEES' REMUNERATION AND BENEFITS 

## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2020 

There were no trustees’ remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019. 

## Trustees’ expenses 

During the year no trustees (2019: none) were reimbursed for out of pocket expenses. 

12. STAFF COSTS 

|STAFF COSTS|||
|---|---|---|
||2020|2019|
||<|£|
|Wages and salaries|688,551|632,491|
|Social security costs|35,890|30,048|
|Other pension costs|11,120|7,247|
||735,561|669,786|
|The average monthly number ofemployees during the yearwas as follows:|||
||2020|2019|
|Advancement of Education|55|50|
|Support staff|8|8|
||63|58|



## No employees received emoluments in excess of £60,000. 

## Key management personnel 

The key management personnel of the charitable company comprise the trustees, the Head Teacher, the Deputy Head Teacher, the Assistant Head Teacher and the Business Manager, The total employee benefits of the key management personnel of the charitable company were £115,541 (2019: £109,064). This does not include remuneration for trustees, all of which is reported as per note 11. 

|13.|COMPARATIVES FORTHE STATEMENT OF FINANCIAL|ACTIVITIES|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||£|£|£|
||INCOME AND ENDOWMENTS FROM||||
||Donations and legacies|30,814|-|30,814|
||Charitable activities||||
||Advancement of education|1,452,766|-|1,452,766|
||Other trading activities|5,444|-|5,444|
||Investment income|13,273|-|13,273|
||Total|1,502,297|-|1,502,297|
||EXPENDITURE ON||||
||Raising funds|11,439|-|11,439|
||Charitable activities||||
||Advancement of education|1,383,039|-|1,383,039|
||Total|1,394,478|-|1,394,478|
||Page19|||continued...|





HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2020 

|13.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -continued|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -continued|continued||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||E|£|£|
||NET INCOME|107,819|-|107,819|
||RECONCILIATION OF FUNDS||||
||Total funds broughtforward|952,266|5|952,266|
||TOTALFUNDS CARRIED FORWARD|1,060,085|-|4,060,085|
|14.|INTANGIBLE FIXED ASSETS||||
|||||Website|
|||||£|
||COST||||
||At 1 September 2019 and||||
||31 August 2020|||4,500|
||AMORTISATION||||
||At 1 September 2019|||1,800|
||Charge for year|||900|
||At 31 August 2020|||2,700|
||NET BOOKVALUE||||
||At 31 August 2020|||1,800|
||At 31 August 2019|||2,700|
|15.|TANGIBLE FIXED ASSETS||||
|||||Fixtures|
|||Freehold|Plant and|and|
|||property|machinery|fittings|
|||£|£|£|
||COSTORVALUATION||||
||At<br>1 September 2019|1,900,000|17,961|71,985|
||Additions<br>Revaluations|-<br>200,000|3,283<br>-|2,760<br>-|
||At 31 August 2020|2,100,000|21,244|74,745|
||DEPRECIATION||||
||At 1 September 2019|300,503|17,031|55,978|
||Charge foryear|35,840|1,281|5,746|
||Revaluation adjustments|(336,343)|-|-|
||At 31 August 2020|-|18,312|61,724|
||NET BOOK VALUE||||
||At 31 August 2020|2,100,000|2,932|13,021|
||At31August2019|1,599,497|930|16,007|



Page 20 

continued... 



## HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2020 

|15.|TANGIBLE FIXEDASSETS - continued||||
|---|---|---|---|---|
|||Motor<br>vehicles|Computer<br>equipment|Totals|
|||£|£|£|
||COST ORVALUATION||||
||At 1 September2019<br>Additions<br>Revaluations|14,700<br>-<br>-|56,442<br>14,419<br>-|2,061,088<br>20,462<br>200,000|
||At 31 August 2020|14,700|70,861|2,281,550|
||DEPRECIATION||||
||At 1 September 2019|14,700|48,407|436,619|
||Charge for year|-|10,146|53,013|
||Revaluation adjustments|-|-|(336,343)|
||At 31 August 2020|14,700|58,553|153,289|
||NET BOOK VALUE||||
||At 31 August 2020|-|12,308|2,128,261|
||At31August2019|-|8,035|1,624,469|



Cost or valuation of freehold property at 31 August 2020 is represented by: 

||||£|
|---|---|---|---|
|Revaluation|in|2020|200,000|
|Revaluation|in|2015|272,285|
|Revaluation|in|2010|(421,687)|
|Cost|||2,049,402|
||||2,100,000|



## The Trust's other tangible fixed assets are included at cost. 

lf freehold property had not been revalued it would have been included at the following historical cost: 

|||2020|2019|
|---|---|---|---|
|||2||
|Cost||2,049,402|2,049,402|
|Aggregate|depreciation|754,135|717,698|



Freehold property was revalued on an open market basis on 31 August 2020 by Vail Williams. 

Page 21 

continued... 



HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020 

. 

|16.|DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR||||
|---|---|---|---|---|
|||2020|2019||
|||£|£||
||Trade debtors|26,546|13,520||
||Otherdebtors|4,044|3,653||
||Prepayments|27,674|27,357||
|||58,264|44,530||
|17.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR||||
|||2020|2019||
|||£|£||
||Bank loans and overdrafts (see note 19)|57,955|60,067||
||Other loans (see note 19)|60,723|158,360||
||Fees in advance|273,998|256,171||
||Trade creditors|18,709|40,227||
||Social security and othertaxes|5,494|8,064||
||Other creditors|1,192|902||
||Accruals and deferred income|14,209|17,445||
|||432,280|541,236||
||Fees in advance represents school fees received in advance forfuture academic years.||||
|||2020|2019||
|||£|¥||
||Brought forward|344,484|276,209||
||Amount released to incoming resources|(186,164)|(125,005)||
||Amount deferred in year|170,222|193,280||
||Carried forward|328,542|344,484||
|18,|CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR||||
|||2020|2019||
|||rE|£||
||Bank loans (see note 19)|437,255|495,406||
||Other loans (see note 19)|6,055|6,958||
||Fees in advance|54,543|88,313||
|||497 853|590,677||
|19.|LOANS||||
||An analysis ofthematurityofloans is given below:|.||||
|||2020|2019||
|||E|=||
||Amounts falling due within one year on demand:||||
||Bank loans|57,955|60,067||
||Other loans|60,723|158,360||
|||118,678|218,427||



Page 22 

continued... 



## HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2020 

|19.|LOANS - continued|||
|---|---|---|---|
|||2020|2019|
|||E|E|
||Amounts falling due between two and five years:|||
||Bank loans|144,041|153,306|
||Other loans|6,055|6,958|
|||150,096|160,264|
||Amounts falling due in more than five years:|||
||Repayable by instalments:|||
||Bank loans|293,214|342,100|
|20.|SECURED DEBTS|||
||The following secured debts are included within creditors:|||
|||2020|2019|
|||£|2|
||Bankloans|495,210|555,473|



The bank loan was secured by a legal charge over the freehold property at Lakesmere House, Allington Lane, Fair Oak, Eastleigh. 

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS 

|||||2020||2019|
|---|---|---|---|---|---|---|
||Unrestricted|Restricted||Total||Total|
||funds||funds|funds||funds|
||£||£|2||£|
|Fixed assets|2,130,061||-|2,130,061||1,627,169|
|Current assets|662,560||-|662,560||564,829|
|Current liabilities|(432,280)||-|(432,280)||(541,236)|
|Long term liabilities|(497,853)||-|(497 853)||(590,677)|
||1,862,488||-|1,862,488||1,060,085|
|MOVEMENT IN FUNDS|||||||
|||||Net|||
|||||movement||At|
||||At 1.9.19|in funds||31.8.20|
||||£|E||£|
|Unrestricted funds|||||||
|General fund||1,022,943||742,177||1,765,120|
|Revaluation reserve||:|-|50,598|-|§0,598|
|Enrichment fund|||37,142|9,628||46,770|
|||1,060,085||802,403||1,862,488|
|TOTALFUNDS||4,060,085||802,403||1,862,488|



## 22. MOVEMENT IN FUNDS 

Page 23 

continued... 



HAMPSHIRE CHRISTIAN EDUCATION TRUST 

22. MOVEMENT IN FUNDS - continued 

## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020 

Net movement in funds, included in the above are as follows: 


**----- Start of picture text -----**<br>
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in|funds|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|1,601,319|(1,344,887)|485,745|742,177|
|Revaluation|reserve|-|-|50,598|50,598|
|Enrichment|fund|15,253|(5,625)|-|9,628|
|1,616,572|(1,350,512)|536,343|802,403|
|Restricted|funds|
|Job|Retention|Scheme|28,132|(28,132)|-|-|
|TOTAL|FUNDS|1,644,704|(1,378,644)|536,343|802,403|
|Comparatives|for movement|in|funds|
|Net|
|movement|At|
|At|1.9.18|in|funds|31.8.19|
|E|£|Pa|
|Unrestricted|funds|
|General|fund|921,635|101,308|1,022,943|
|Enrichment|fund|30,631|6,511|37,142|
|952,266|107,819|1,060,085|
|TOTAL|FUNDS|952,266|107,819|1,060,085|
|Comparative|net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,482,809|(1,381,501)|101,308|
|Enrichment|fund|19,488|(12,977)|6,511|
|1,502,297|(1,394,478)|107,819|
|TOTAL FUNDS|1,502,297|(1,394,478)|107,819|

**----- End of picture text -----**<br>


Page 24 

continued... 



HAMPSHIRE CHRISTIAN EDUCATION TRUST 

22. MOVEMENT IN FUNDS- continued 

## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2020 

A current year 12 months and prior year 12 months combined position is as follows: 


**----- Start of picture text -----**<br>
||||||
|---|---|---|---|---|
|Net|
|movement|At|
|At|1.9.18|in|funds|31.8.20|
|-|£|£|
|Unrestricted|funds|
|General|fund|921,635|843,485|1,765,120|
|Revaluation|reserve|-|50,598|50,598|
|Enrichment|fund|30,631|16,139|46,770|
|952,266|910,222|1,862,488|
|TOTAL FUNDS FUNDS|952,266|910,222|1,862,488|

**----- End of picture text -----**<br>


## TOTAL FUNDS FUNDS 

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in|funds|
|fr|EF|E|£|
|Unrestricted|funds|
|General|fund|3,084,128|(2,726,388)|485,745|843,485|
|Revaluation|reserve|-|-|50,598|50,598|
|Enrichment|fund|34,741|(18,602)|-|16,139|
|3,118,869|(2,744,990)|536,343|910,222|
|Restricted|funds|
|Job|Retention|Scheme|28,132|(28,132)|-|-|
|TOTAL FUNDS|3,147,001|(2,773,122)|536,343|910,222|

**----- End of picture text -----**<br>


## Enrichment fund 

This fund is a fund designated by the trustee directors to be a physical account where fundraising events and school trips could be accounted for to ensure that all monies raised in this way could be spent on enhancements to the school rather then lost in the day to day running of the school. 

23. RELATED PARTY DISCLOSURES 

Purchases of £3,847 (2019: £3,563) have been paid to a company who has a commen director to Hampshire Christian Education Trust. The aged creditor balance at the year end with this company is : £2,649 (2019: £1,043). This company has also lent Hampshire Christian Education Trust £59,550 (2019:£89,550). Interest paid on this loan totals to £1,430 (2019: £1,907). 

During the year 3 (2019: 3) trustees had a total of 8 (2019: 5) children attending the school. The total fees paid relating to these school places was £41,120 (2019: £30,344). 

All transactions are at arms length. 

Page 25 

continued... 



HAMPSHIRE CHRISTIAN EDUCATION TRUST 

## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2020 

24, ULTIMATE CONTROLLING PARTY 

The charitable company is not under the control of another entity or any one individual. 

25. LEGAL STATUS 

The charitable company is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10. 

Page 26