2022-08-31-accounts - Hampshire Christian Education Trust

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		Page
Report ofthe Trustees	1	Io	5
Report ofthe Independent Auditors	6	to	8
Statement ofFinancial Activities
Balance Sheet		10
Cash Flow Statement
Notes tothe Cash Flow Statement		12
Notes tothe Financial Statements	13 Io		23

						2022	2021
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
			Notes	E	8	6	8
INCOME AND ENDOWMENTS		FROM
Donations and legacies			2	13,256	34,864	48,120	128,553
Charitable activities
Advancement ofeducation				1,665,210		1,665,210	1,725,014
Other trading activities				2,634	210	2,844	6,729
Investment income				10,833		10,833	5,341
Total				1,691,933	35,074	1,727,007	1,865,637
EXPENDITURE ON
Raising funds			6	7,017		7,017	12,987
Charitable activities
Advancement ofeducation				1,549,321	3,341	1,552,662	1,386,503
Total				1,556,338	3,341	1,559,679	1,399,490
NET INCOME				135,595	31,733	167,328	466,147
RECONCILIATION	OF FUNDS
Total funds brought forward				2,215,458	113,177	2,328,635	1,862,488
TOTAL FUNDS CARRIED FORWARD				2,351,053	144,910	2,495,963	2,328,635

	BALANCE SHEET
	31AUGUST 2022
	Notes	2022	2021f
FIXEDASSETS Intangible assets Tangible assets	14 15	2,409,125	900 2,098,287
		2,409,125	2,099,187
CURRENT ASSETS Debtors	16	49,859	18,233
Cash at bank		1,026,781	990,787
		1,076,640	1,009,020
CREDITORS
Amounts falling due within one year	17	(603,946)	(347,054)
NET CURRENT ASSETS		472,694	661,966
TOTAL ASSETSLESS CURRENT LIABILITIES		2,881,819	2,761,153
CREDITORS Amounts falling due after more than one year	18	(385,856)	(432,518)
NET ASSETS		2,495,963	2,328,635
FUNDS	22
Unrestricted funds Restricted funds		2,351,053 144,910	2,215,458 1'I3.177
TOTAL FUNDS		2,495,963	2,328,635

						2022	2021
					Notes	6	6
Cash flows from operating		activities
Cash generated from operations						410,078	424,970
Interest paid						(13,179)	(12,279)
Finance costs paid						(7,017)	(12,987)
Net cash provided by operating			activities			389,882	399,704
Cash flows from investing		activities
Purchase oftangible fixed assets						(364,721)	(18,554)
Interest received						866	203
Finance interest income						9,967	5,138
Net cash used in investing	activities					(353,888)	(13,213)
Change In cash and cash		equivalents		in
the reporting period						35,994	386,491
Cash and cash equivalents		at	the
beginning ofthe reporting		period				990,787	604,296
Cash and cash equivalents		at	the end	of
the reporting pediod						1,026,781	990,787

		NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31AUGUST 2022	NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31AUGUST 2022	NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31AUGUST 2022
	RECONCILIATION	OF NET INCOME TO NET CASH FLOW FRONI OPERATING			ACTIVITIES
					2022	2021
					8	6
	Net income for the	reporting		period (as per the Statement ofFinancial
	Activities)				167,328	466,147
	Ad)ustments for:
	Depreciation charges				53,883	48,528
	Interest received				(866)	(203)
	Interest paid				13,179	12,279
	Finance costs				7,017	12,987
	Amortisation charges				900	900
	Finance interest income				(9,967)	(5,138)
	(Increase)/decrease	in debtors			(31,626)	40,031
	Increase/(decrease)	in creditors			210,230	(150,561)
	Net cash provided	by operations			410,078	424,970
2.	ANALYSIS OF CHANGES		IN	NET FUNDS

ANALYSIS OF CHANG	ES IN NET FUNDS
		At 1.9.21	Cash flow 6	At31.8.22 f
Net cash
Cash at bank		990,787	35,994	1,026,781
		990,787	35,994	1,026,781
Debt
Debts falling due within	1 year	(48,505)	(1,030)	(49,535)
Debts falling due aRer 1 year		(386,778)	48,050	(338,728)
		(435,283)	47,020	(388,263)
Total		555,504	83,014	638,518

DONATION	S AND LEGACIES
		2022	2021
			E
Donations		44,495	120,965
Gift aid		3,625	7,588
		48,120	128,553
OTHER TRADING ACTIVITIES
		2022f	2021 6
Fundraising	events	2,844	6,729
INVESTMENT INCOME
		2022f	2021f
Deposit account interest		391	203
Finance interest income		10,442	5,138
		10,833	5,341

INCOME FR	O	M C	HARITA	BLE ACTIVITIES
							2022	2021
				Activity				6
School fees and bursades				Advancement	ofeducation		1,617,908	1,701,172
School trips and sales				Advancement	ofeducation		39,446	19,062
Rental income				Advancement	of education		2,290	880
Sundry income				Advancement	of education		5,066	3,900
Grants				Advancement	ofeducation		500
							1,665,210	1,725,014
Grants received, included				in the above, are as	follows:
							2022	2021
							F.
Evolve Advice							500
RAISING FUNDS
Raising donations			and legacies
							2022	2021
							F	6
Finance cost							7,017	12,987
CHARITABLE		ACTIVITIES COSTS
						Direct	Support
						Costs (see	costs (see
						note 8)	note 9) 6	Totalsf
Advancement		ofeducation				1,211,480	341,182	1,552,662
DIRECT COSTS OF CHARITABLE ACTNITIES
							2022	2021
								6
Staff costs							834,996	698,537
Educational	resources						63,298	43,948
Trips, camps	and		events				43,475	20,986
Training							2,635	538
DBSand licences							9,781	10,895
Fundraising	costs						16,861	24,740
Burssries							240,434	299,671
							1,211,480	1,099,315

SUPPORT C	OSTS
						Governance
					Management	costs f	Totals
Advancement	ofeducation				336,174	5,008	341,182
Support costs, included			in	the above, are as follows:
Management
						2022	2021
						Advancement
						of	Total
						education f	activities
Wages						120,000	102,000
Hire ofplant	and machinery					20,356	18,044
Rates and water						12,821	14,966
Insurance						18,786	16,438
Light and heat						6,106	7,963
Minibus and	car park expenses					7,878	3,352
Legal and professional		fees				16,432	8,602
Repairs and	maintenance					38,093	23,353
Stationery, postage and			phone			21,934	18,373
Sundry expenses						5,332	7,377
Donations						474
Amortisation	ofintangible			fixed assets		900	900
Depreciation	oftangible		assets			53,883	48,529
Bank interest						1,924	1,633
Mortgage interest						11,255	10,150
Loan interest							496
						336,174	282,176
Governance	costs
						2022	2021
						Advancement
						of	Total
						education	activities
						f
Auditors' remuneration						5,008	5,012
NET INCOME/(EXPENDITURE)
Net income/(expenditure)				is stated after charging/(crediting):
						2022f	2021f
Auditors' remuneration						5,008	5,012
Depreciation	-owned assets					53,883	48,528
Hire of plant	and machinery					20,356	18,044
Website amortisation						900	900

STAFF COST	S
				2022f	2021f
Wages and salaries				892,301	749,356
Social security	costs			53,967	39,161
Other pension	costs			8,728	12,020
					800,537
The average monthly		number ofemployees	during the year was as follows:
				2022	2021
Advancement	ofEducation			60	58
Support staff				10	9
				70	67

		Unrestricted	Restricted	Total
		funds f	fundsf	funds F
INCONIE AND ENDOWNIENTS	FRONI
Donations and legacies		16,418	112,135	128,553
Charitable activities
Advancement ofeducation		1,724,014	1,000	1,725,014
Other trading activities		6,687	42	6,729
Investment income		5,341		5,341
Total		1,752,460	113,177	1,865,637
EXPENDITURE ON
Raising funds		12,987		12,987
Charitable activities
Advancement ofeducation		1,386,503		1,386,503
Total		1,399,490		1,399,490

	NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31AUGUST 2022	NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31AUGUST 2022	NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31AUGUST 2022	NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31AUGUST 2022
13.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -continued
			Unrestricted	Restricted	Total
			funds	funds 8	fundsf
	NET INCOME		352,970	113,177	466,147
	RECONCILIATION	OF FUNDS
	Total funds brought	forward	1,862,488		1,862,488
	TOTAL FUNDS CARRIED FORWARD		2,215,458	113,177	2,328,635
14.	INTANGIBLE FIXEDASSETS
					Website
					F
	COST
	At 1 September 2021 and 31 August 2022				4,500
	AMORTISATION
	At 1 September 2021				3,600
	Charge for year				900
	At 31 August 2022				4,500
	NET BOOKVALUE
	At 31August 2022
	At 31 August 2021				900
15.	TANGIBLE FIXEDASSETS
				Improvements
			Freehold	to	Plant and
			property	property	machinery
			6	8	6
	COST
	At 1 September 2021		2,100,000		19,992
	Additions			327,376	4,203
	At 31August 2022		2,100,000	327,376	24,195
	DEPRECIATION
	At 1 September 2021		29,600		17,824
	Charge for year		29,600		1,547
	At 31 August 2022		59,200		19,371
	NET BOOKVALUE
	At 31 August 2022		2,040,800	327,376	4,824
	At 31 August 2021		2,070,400		2,168

TANGIBLE FIXEDASSETS	- continued
	Fixtures
	and	Motor	Computer
	fittings f	vehicles 8	equipment 8	Totals 6
COST
At 1 September 2021	82,721	14,700	65,187	2,282,600
Additions	18,073		15,069	364,721
At 31 August 2022	100,794	14,700	80,256	2,647,321
DEPRECIATION
At 1 September 2021	68,753	14,700	53,436	184,313
Charge for year	9,594		13,142	53,883
At 31August 2022	78,347	14,700	66,578	238,196
NET BOOKVALUE
At 31 August 2022	22,447		13,678	2,409,125
At 31August 2021	13,968		11,751	2,098,287
Cost orvaluation offreehold	property at 31 August 2021 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

Iffreehold	property had not been revalued it would hav	e been included at the following historical co	st:
		2022f	2021 8
Cost		2,049,402	2,049,402
Aggregate	depreciation	827,009	790,572

16.	DEBTORS:AM	OUNT	S	FALLING DUE WITHIN ONE YEAR	FALLING DUE WITHIN ONE YEAR	FALLING DUE WITHIN ONE YEAR	FALLING DUE WITHIN ONE YEAR	FALLING DUE WITHIN ONE YEAR
									2022	2021
									F	F
	Trade debtors Other debtors								18,516 3,617	(18,351) 7,581
	P repayments								27,726	29,003
									49,859	18,233
17.	CREDITORS: AMOUNTS				FALLING DUE WITHIN ONE YEAR
									2022 f	2021 f
	Bank loans and overdrafts				(see note 19)				49,535	48,505
	Fees in advance								303,804	251,179
	Trade creditors								139,320	24,050
	Social security and other			taxes					14,199	9,779
	Other creditors								1,602	504
	Accruals and deferred		income						95,486	13,037
									603,946	347,054
	Fees in advance	represents				school fees received		in advance for future academic	years.
									2022	2021
										f
	Brought forward								292,114	328,542
	Amount released	to incoming				resources			(99,624)	(182,884)
	Amount deferred	in year							158,442	146,457
	Carried forward								350,932	292,114
18.	CREDITORS: AMOUNTS				FALLING DUE AFTER INORE THAN ONE YEAR
									2022 f	2021 f
	Bank loans (see Fsesin advance	note	19)						338,728 47,128	386,778 45,740
									385,856	432,518
19.	LOANS
	An analysis ofthe maturity				ofloans is given		below:
									2022 f	2021 F
	Amounts falling due within				one year on demand:
	Bsnkloans								49,535	48,505
	Amounts falling due between					two and five years:
	Bankloans								133,710	145,636
	Amounts falling due in		more			than five years:
	Repayable by instalments:
	Bankloans								205,018	241,142
							Page 20			continued, .„

ANALYSIS O	F NET ASSETS B	ETWEEN FUNDS
				2022	2021
		Unrestricted	Restricted	Total	Total
		fundsf	funds 6	funds F	funds 6
Fixed assets		2,409,125		2,409,125	2,099,187
Current assets		931,730	144,910	1,076,640	1,009,020
Currant liabilities		(603,946)		(603,946)	(347,054)
Long term liabilities		(385,856)		(385,856)	(432,518)
		2,351,053	144,910	2,495,963	2,328,635
MOVEMENT	IN FUNDS
				Net
				movement	At
			At 1.9.21	in funds f	31.8.22
Unrestricted	funds
General fund			2,115,063	128,975	2,244,038
Revaluation reserve			50,598		50,598
Enrichment fund			49,797	6,620	56,417
			2,215,458	135,595	2,351,053
Restricted funds
Mugs fund			113,177	31,733	144,910
TOTAL FUNDS			2,328,635	167,328	2,495,963
Net movement	in funds, included	in the above are as follows:
			Incoming	Resources	Movement
			resources	expended	in funds
			6	E
Unrestricted	funds
General fund			1,674,840	(1,545,865)	128,975
Enrichment fund			17,093	(10,473)	6,620
			1,691,933	(1,556,338)	135,595
Restricted funds
Mugs fund			35,074	(3,341)	31,733
TOTALFUNDS			1,727,007	(1,559,679)	167,328

					Net
					movement	At
				At 1.9.20 f	in funds	31.8.21
Unrestricted	funds
General fund				1,765,120	349,943	2,115,063
Revaluation	reserve			50,598		50,598
Endchment	fund			46,770	3,027	49,797
				1,862,488	352,970	2,215,458
Resbfcted	funds
Mugs fund					113,177	113,177
TOTAL FUNDS				1,862,488	466,147	2,328,635
Comparative	net movement	in funds,	included	in the above are as follows:
				Incoming	Resources	Movement
				resources f	expended	in funds f
Unrestricted	funds
General fund				1,742,027	(1,392,084)	349,943
Enrichment	fund			10,433	(7,406)	3,027
				1,752,460	(1,399,490)	352,970
Restricted	funds
Mugs fund				113,177		113,177
TOTAL FUNDS				1,865,637	(1,399,490)	466,147