2021-03-31-accounts - GUST Independent School Ltd

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			Page
Report ofthe Trustees		1	to	3
Independent Examiner's	Report
Statement ofFinancial Activities
Balance Sheet		6	to	7
Cash Flow Statement
Notes to the Cash Flow	Statement
Notes to the Financial Statements		10	to	18
Detailed Statement ofFinancial Activities		19	to	20

						2021	2020
				Unrestricted	Restricted	Total	Total
				fund	funds	funds	funds
			Notes		6
INCOME	AND ENDOWMENTS FROM
Donations	and legacies		3		2,371	2,371	8,219
Charitable	activities		4
Training				623,080		623,080	609,951
Other income			5	31,818		31,818	864
Total				654,898	2,371	657,269	619,034
EXPENDITURE ON
Charitable	activities		6
Training				547,462	3,239	550,701	470,792
				117,237		117,237	134,800
Total				664,699	3,239	667,938	605,592
NET INCOME/(EXPENDITURE)				(9,801)	(868)	(10,669)	13,442
RECONCILIATION		OF FUNDS
Total funds brought		fomvard		403,876	16,740	420,616	407,174
TOTAL FUNDS CARRIED FORWARD				~394075	15,872	~409947	420,616

	31M	arch 2021
				2021	2020
		Unrestricted	Restricted	Total	Total
		fund	funds	funds	funds
	Notes
FIXEDASSETS
Tangible assets	12	237,888	3,396	241,284	221,424
CURRENT ASSETS
Debtors	13	25,151		25,151	22,497
Cash at bank and in hand		147,755	12,476	160,231	180,897
		172,906	12,476	185,382	203,394
CREDITORS
Amounts falling due within one year	14	(16,719)		(16,719)	(4,202)
NET CURRENT ASSETS		156,187	12,476	~168663	~199192
TOTAL ASSETSLESSCURRENT
LIABILITIES		394,075	15,872	409,947	420,616
NET ASSETS		394,075	15,872	409,947	420,616
FUNDS	15
Unrestricted funds				394,075	403,876
Restricted funds				~15 872	16,740
TOTAL FUNDS				409,947	~420 616

			Cash Flow Statement
		for the	Year Ended 31March	2021
				2021	2020
		Notes
Cash flows from operating	activities
Cash generated from operations				~13213	85,128
Net cash provided by operating activities				13,213	~85 128
Cash flows from investing	activities
Purchase oftangible fixed assets				(33,879)	(195,592)
Net cash used in investing	activities			~33879)	((95,592)
Change in cash and cash equivalents		in
the reporting period				(20,666)	(110,464)
Cash and cash equivalents	at the
beginning ofthe reporting	period			180,897	~291 361
Cash and cash equivalents	at the end	of
the reporting period				160,231	180,897

OPERATING AC	TIVI	TIES
				2021	2020
Net (expenditure)/income		for the reportiag	period (as per the
Statemeat ofFinancial		Activities)		(10,669)	13,442
Adjustmeuts for:
Depreciation charges				14,019	10,382
Loss on disposal of	fixed	assets			3,299
(Increase)/decrease	in debtors			(2,654)	57,344
Increase in creditors				12,517	661
Net cash provided	by operations			13,213	85,128

ANALYSIS OF CHANGES IN NET FUND	S
	At 1.4.20	Cash flow	At 31.3.21
	6	f
Net cash
Cash at bank and in hand	~180897	~20,666)	160,231
	180,897	20,666	160,231
Total	~180897	~20,666)	160,231

			2021	2020
		Activity		f.
Training	fees	Training	623,080	609,951

		2021	2020
			8
Government	grants	31,818
Bank interest	received		864
		31,818	864

CHARI	TABLE ACTIVITIES COSTS
Training		2021	2020
Staffcosts		430,653	367,030
Workshop costs		3,610	3,241
Learner's fees		2,201	8,385
Learner	rewards	4,828	4,424
Training	resources	6,311	6,313
Leisure	activities	2,052	6,413
Premises	costs	74,195	46,264
Learner	transport	6,066	8,314
Catering	expenses	6,766	6,727
Depreciation		14,019	10,382
Loss on	sale oftangible fixed assets		3,299
		550,701	~470 792

2021	2020
	8
57,510	71,774
47,665	46,215
12,062	~16 811
117,237	~134800

Governance	costs		2021	2020
Independent	examination	fee	2,000	2,000
Bank charges			306	347
Other legal and professional			9,756	14,464
			12,062	16,811

		2021	2020
Depreciation	- owned assets	14,019	10,382
Deficit on disposal offixed asset			3,299
Independent	exainination fee	2,000	2,000

				2021	2020
				f
Wages and salaries Social security Pension costs				434,901 34,089 9,125	384,834 30,891 8,123
				478 115	423,848
The average monthly	number ofemployees	during	the year was as follows:
Charitable objectives				2021 12	2020 11
Management and administration Sessional workers				1 2	2 2
				15	15

COMPAR	ATIVES FOR THE ST	ATEMENT OF FI	NANCIAL ACTIVITIES
			Unrestricted	Restricted	Total
			fund	funds	funds
INCOME	AND ENDOWMENTS	FROM
Donations	and legacies		771	7,448	8,219
Charitable	activities
Training			609,951		609,951
Other income					864
Total			611,586	7,448	619,034
EXPENDITURE ON
Charitable	activities
Training			429,535	41,257	470,792
Other			134,800		134,800
Total			564,335	41,257	605,592
NET INCOME/(EXPENDITURE)			47,251	(33,809)	13,442

	for the Year Ended 31March 2	for the Year Ended 31March 2	for the Year Ended 31March 2	for the Year Ended 31March 2	for the Year Ended 31March 2	021
11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL					ACTIVITIES	- continued
						Unrestricted	Restricted	Total
						fund	funds	funds
	RECONCILIATION		OF FUNDS
	Total funds brought		forward			356,625	50,549	407,174
	TOTAL FUNDS CARRIED FORWARD					~403 876	16,740	420,616
12.	TANGIBLE	FIXEDASSETS
					Improvements
				Freehold	to	Plant and	Motor
				property	property	machinery	vehicles	Totals
				8	E
	COST
	At 1 April 2020			181,964	28,560	45,023	8,000	263,547
	Additions				15,090	12,389	6,400	33,879
	At 31 March	2021		181,964	43,650	57,412	~14 400	297426
	DEPRECIATION
	At I April 2020			3,032	3,663	31,424	4,004	42,123
	Charge for year			3,638	3,108	4,941	2,332	14,019
	At 31March	2021		6,670	6,771	36,365	6,336	56,142
	NET BOOK	VALUE
	At 31 March	2021		175294	36,879	21,047	~8064	241,284
	At 31 March	2020		178,932	24,897	13,599	3,996	221,424
	All assets were used for charitable			purposes.
13.	DEBTORSr	AMOUNTS FALLING DUE WITHIN ONE YEAR
							2021	2020
	Trade debtors						20,715	16,260
	Other debtors						2,500	4,060
	Prepaymeots	and accrued income					1,936	2,177
							25,151	22,497

CREDITORS: AMOUNTS FA	LLING DUE WITHIN ONE	YEAR
			2021	2020
				f.
Trade creditors			3,273	468
Social security and other taxes			9,235
Other creditors			1,765	1,666
Accrued expenses			2,446	2,068
			16,719	4,202
MOVEMENT IN FUNDS
			Net
			movement	At
		At 1.4.20	in funds	31.3.21
			f.
Unrestricted funds
General income fund		403,876	(9,801)	394,075
Restricted funds
Restricted assets fund		16,264	(868)	15,396
Restricted income fund		476		476
		16740	(868)	15,872
TOTAL FUNDS		420,616	~10,669)	409,947
Net movement in funds, included	in the above are as follows:
		Incoming	Resources	Movement
		resources	expended f	in funds
Unrestricted funds
General income fund		654,898	(664,699)	(9,801)
Restricted funds
Restricted assets fund Restricted incotne fund		2,371	(868) ~2,371)	(868)
		2,371	~3,239)	~868)
TOTAL FUNDS		657,269	~667,938)	~10,669)

Comparatives for movem	ent in funds
				Net	Transfers
				movement	between	At
			At 1.4.19	in funds	funds	31.3.20
Unrestricted funds
General income fund			356,625	47,251		403,876
Restricted funds
Restricted assets fund			16,839	4,819	(5,394)	16,264
Restricted income fund			33,710	~38,628	5,394	476
			50,549	~33,809		16,740
TOTAL FUNDS			~407 174	13,442		420,616
Comparative net movement	in funds, included	in the above are as follows:
				Incoming	Resources	Movement
				resources	expended	in funds
				f.
Unrestricted funds
General income fund				611,586	(564,335)	47,251
Restricted funds
Restricted assets fund				6,448	(1,629)	4,819
Restricted income fund				1,000	~39,628)	~38,628)
				7,448	~41,257)	33,809
TOTAL FUNDS				619,034	~605,592	13,442
A current year 12months	and prior year 12months		combined position is as follows:
				Net	Transfers
				movement	between	At
			At 1.4.19	in funds	funds	31.3.21
Unrestricted funds
General income fund			356,625	37,450		394,075
Restricted funds
Restricted assets fund			16,839	3,951	(5,394)	15,396
Restricted income fund			33,710	~38,628)	5,394	476
			50,549	34,677		15,872
TOTAL FUNDS			407,174	2,773		409,947

	Incoming	Resources	Movement
	resources	expended	in funds f
Unrestricted funds
General income fund	1,266,484	(1,229,034)	37,450
Restricted funds
Restricted assets fund Restricted income fund	6,448 ~3371	(2,497) ~41,999	3,951 ~38,628)
	~9819	~44,496	~34,677
TOTAL FUNDS	1,276,303	(1~273530	2,773

				2021		2020
					f
Amounts	due	from	trustees	2,200		3,500

		GUST Independent School Ltd
		Detailed Statement ofFinancial Activities
		for the Year Ended 31March 2021
			2021	2020
INCOME AND ENDOWMENTS
Donations aad legacies
Donations and grants			2,371	8,219
Charitable activities
Training fees			623,080	609,951
Other income
Other income			31,818	864
Total incoming resources			657,269	619,034
EXPENDITURE
Charitable activities
Wages and salaries			391,791	334,417
Social security			30,527	25,720
Pension costs			8,335	6,893
Workshop costs			3,610	3,241
Learners fees			2,201	8,385
Learner rewards			4,828	4,424
Training resources			6,311	6,313
Leisure activities			2,052	6,413
Premises costs			74,195	46,264
Learner transport			6,066	8,314
Catering expenses			6,766	6,727
Freehold property	depreciation		3,638	3,032
improvements to property depreciation Plant and machinery depreciation			3,108 4,941	2,399 3,619
Motor vehicles depreciation			2,332	1,332
Loss on sale oftangible fixed assets				3,299
			550,701	470,792
Support costs
Staffcosts
Administration	salaries		43,110	50,417
Social security			3,562	5,171
Pension costs			790	1,230
Stafftraining and welfare			10,048	~14956
			57,510	71,774
General
Motor expenses			13,239	11,412
Travel and subsistence			101	326
Telephone			6,837	8,739
Carried forward			20,177	20,477

General
Brought forward
Stationery and postage
Internet and ITcosts
Insurance
Sundry expenses
Advertising
Entertaining
Governance
Independent examination	fee
Bank charges
Other legal and professional
Total resources expended
Net (expenditure)/income

2021	2020
8
20,177	20,477
2,749	4,902
2,924	2,977
10,134	9,818
9,838	4,638
	187
~1843	~3216
47,665	46,215
2,000	2,000
306	347
9,756	14,464
~12 062	~16811
667,938	605,592
~10,669)	13,442