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2021-08-31-accounts
|
Page No |
| Administrative information |
1 |
| Report of the Governors |
2 −8 |
| Report of the Auditors |
9−11 |
| Statement of Financial Activities |
12 |
| Balance Sheet |
13 |
| Statement of cash flows |
14 |
| Notes to the Financial Statements |
15 — 31 |
|
|
Unrestricted |
Restricted. |
Endowment |
2021 |
2020 |
|
|
Funds |
Funds |
Funds |
Total |
Total |
|
Note |
£ |
E |
£ |
£ |
£ |
| INCOME |
|
|
|
|
|
|
| Tuition Fees & Accommodation |
12 |
1,674,636 |
132,575 |
|
1,807,211 |
2,131,833 |
| Charges |
|
|
|
|
|
|
| Investment |
3 |
79,440 |
3,666 |
|
83,106 |
82,389 |
| Income |
|
|
|
|
|
|
| Grants and Donations |
4 |
82,433 |
40,519 |
|
122,952 |
48,273 |
| Other Income |
13 |
2,681 |
31,666 |
|
34,347 |
86,076 |
| TOTAL INCOME |
|
1,839,190 |
208,426 |
|
2,047,616 |
2,348,571 |
| EXPENDITURE |
|
|
|
|
|
|
| Charitable activities |
|
|
|
|
|
|
| Costs o f Providing |
14 |
1,885,328 |
175,930 |
92,266 |
2,153,524 |
2,290,175 |
| Education |
|
|
|
|
|
|
| TOTAL EXPENDITURE |
|
1,885,328 |
175,930 |
92,266 |
2,153,524 |
2,290,175 |
| **NET INCOME/(EXPENDITURE) ** |
before |
(46,138) |
32,496 |
(92,266) |
(105,908) |
58,396 |
| gains/losses |
|
|
|
|
|
|
| Unrealised gains on |
5 |
393,709 |
21,438 |
|
415,147 |
56,566 |
| investments |
|
|
|
. |
|
|
| Realised gains on investments |
5 |
|
|
|
|
|
| **NET INCOME/(EXPENDITURE) ** |
being |
347,571 |
53,934 |
(92,266) |
309,239 |
114,962 |
| n e t m o v e m e n t in funds |
|
|
|
|
|
|
| TRANSFERS BETWEEN |
8 |
22,487 |
(22,487) |
|
|
|
| FUNDS |
|
|
|
|
|
|
| Reconciliation o f funds: |
|
|
|
|
|
|
| Funds brought forward |
|
|
|
|
|
|
| a t 1st September 2020 |
|
4,004,826 |
797,258 |
424,269 |
5,226,353 |
5,111,391 |
| Funds carried forward |
|
|
|
|
|
|
| a t 3 1 s t August 2 0 2 1 |
8,9,10 |
4,374,884 |
828,705 |
332,003 |
5,535,592 |
5,226,353 |
BALANCE SHEET AS AT 3 1 s t AUGUST 2021
COMPANY NUMBER 05511503 |
|
|
|
|
|
|
|
|
2021 |
|
|
2020 |
|
|
Note |
|
|
|
|
|
| FIXED ASSETS |
|
|
|
|
|
|
| Tangible Assets |
2 |
' 2,107,773 |
|
|
2,231,191 |
|
| Investments |
5 |
2,978,731 |
|
|
2,551,100 |
|
|
|
|
5,086,504 |
|
|
4,782,291 |
| CURRENT ASSETS |
|
|
|
|
|
|
| Debtors |
6 |
399,122 |
|
|
318,124 |
|
| Short term Deposits |
|
5,757 |
|
|
5,757 |
|
| Bank and Cash in hand |
|
175,312 |
|
|
311,049 |
|
|
|
580,191 |
|
|
634,930 |
|
| CREDITORS |
|
|
|
|
|
|
| Amounts falling due within 1 year |
7 |
(131,103) |
|
|
(190,868) |
|
| NET CURRENT ASSETS |
|
|
|
449,088 |
|
444,062 |
| TOTAL ASSETS LESS CURRENT |
|
|
|
|
|
|
| LIABILITIES |
|
|
5,535,592 |
|
|
5,226,353 |
| NET ASSETS |
|
|
5,535,592 |
|
|
5,226,353 |
| CHARITY FUNDS |
|
|
|
|
|
|
| Endowment |
|
|
|
332,003 |
|
424,269 |
| Restricted |
8 |
|
|
828,705 |
|
797,258 |
| Unrestricted (inc Designated Funds) |
10 |
|
4,374,884 |
|
|
4,004,826 |
| TOTAL CHARITY FUNDS |
|
|
5,535,592 |
|
|
5,226,353 |
| The notes on pages 14 to 31 form part of these financial statements. |
|
|
|
|
|
|
| These financial statements were approved by the Board of Governors |
|
|
on |
.1% |
/ i t /2021 |
and are |
| signed on their behalf by: |
|
|
|
|
|
|
|
Note |
|
2021 |
2020 |
|
|
|
£ |
£ |
| Net Cashflow from operating activities |
|
20 |
(48,978) |
(46,238) |
| Property funds |
|
|
|
|
| Payments to acquire fixed assets |
|
|
(157,381) |
(25,209) |
| Payments to acquire investments |
|
|
(12,484) |
(11,702) |
| Receipts from sales of investments |
|
|
|
|
| Interest received |
|
|
83,106 |
82,389 |
| Net cash flow from investing activities |
|
|
(86,759) |
45,478 |
| Net increase/(decrease) in cash and cash |
|
|
(135,737) |
(760) |
| equivalents |
|
|
|
|
| Cash and cash equivalents brought forward: |
|
|
316,806 |
317,566 |
| Cash and cash equivalents at year end: |
|
|
181,069 |
316,806 |
| Cash and cash equivalents consists of: |
|
|
|
|
| Cash a t bank and in hand |
|
|
175,312 |
311,049 |
| Short term deposits |
|
|
5,757 |
5,757 |
| Cash and cash equivalents: |
|
|
181,069 |
316,806 |
| Land & Buildings −Leasehold |
Nominal £10,000 for expiration of lease |
|
4% on cost of major extensions and building works |
|
10% on cost of refurbishments |
| Heating & plant |
20% of cost |
| Motor vehicles |
25% on cost written down to a minimum of£1 |
| Audio visual equipment |
33% on written down value or subsequent cost |
| Mowers & garden equipment |
20% −33% on cost |
| Computers |
33% on cost |
| All other furniture & equipment |
20% −33% on written down value |
| TANGIBLE FIXED ASSETS |
|
|
|
|
|
|
**Long ** |
Leasehold |
|
|
|
|
Land & |
|
Furniture & |
Heating & |
|
| Cost |
Buildings |
|
Equipment |
Plant |
Total |
| Balance a t 1st September 2020 |
4,709,915 |
|
557,062 |
180,646 |
5,447,623 |
| Additions |
31,217 |
|
43,144 |
83,020 |
157,381 |
| Disposals |
|
− |
(612) |
− |
(612) |
| Total cost a t 31 August 2021 |
4,741,132 |
|
599,594 |
263,666 |
5,604,392 |
| Accumulated depreciation |
|
|
|
|
|
| Balance a t 1st September 2020 |
2,610,047 |
|
462,231 |
144,154 |
3,216,432 |
| Charge for the year |
185,021 |
|
78,665 |
17,111 |
280,798 |
| Disposals |
|
|
(612) |
|
(612) |
| Total depreciation a t 31 August 2021 |
2,795,068 |
|
540,284 |
161,265 |
3,496,618 |
| Net b o o k value |
|
|
|
|
|
| At 3 1 s t August 2021 |
1,946,064 |
|
59,309 |
102,401 |
2,107,773 |
| At 31st August 2020 |
2,099,868 |
|
94,831 |
36,492 |
2,231,191 |
| INVESTMENT INCOME |
|
|
|
|
|
|
|
|
|
2021 |
2020 |
| Interest −Investment funds |
|
|
|
54,246 |
52,090 |
| Interest−Property funds |
|
|
|
15,576 |
18,421 |
| Interest −Fixed Interest Securities |
|
|
|
753 |
37 |
| Interest on cash deposits |
|
|
|
48 |
139 |
| Interest reinvested |
|
|
|
12,484 |
11,702 |
|
|
|
|
83,106 |
82,389 |
| GRANTS AND DONATIONS |
|
|
|
2021 |
2020 |
| HMRC Job Retention Scheme ® |
13,259 |
19,657 |
| Archbishop Council |
76,000 |
|
| Methodist Diaconal Order ® |
10,000 |
|
| Queen's Methodist Chaplaincy Donation ® |
8,000 |
8,000 |
| St Augustine's ® |
9,260 |
|
| St John's College |
3,144 |
|
| Methodist Church |
|
5,000 |
| B Stanley |
|
4,500 |
| Grimmit Trust |
|
3,000 |
| P Emberton |
|
3,000 |
| St Boniface Trust (Mission) |
|
2,624 |
| S Millard |
|
1,064 |
| United Friends of Queens |
759 |
687 |
| Other donations £1,000 o r less |
2,530 |
741 |
|
122,952 |
48,273 |
|
FIXED ASSET INVESTMENTS |
|
|
|
|
|
|
2021 |
2020 |
|
Market value brought forward |
S |
2,551,100 |
2,482,832 |
|
Dividends received and reinvested |
|
12,484 |
11,702 |
| . |
Purchase of Investments
Sale of Investments |
|
|
|
|
Profit on sale/redemption of investments |
|
|
|
|
Net unrealised profit on revaluation |
|
415,147 |
56,566 |
|
Closing market value |
|
2,978,731 |
2,551,100 |
|
Historical cost a t 31st August: |
|
1,002,444 |
989,960 |
|
2021 |
2020 |
| Investments a t market value comprise: |
|
|
| Investment fund income shares |
2,611,199 |
2,207,316 |
| Property funds |
341,387 |
316,936 |
| Fixed interest securities fund income shares |
26,145 |
26,848 |
|
2,978,731 |
2,551,100 |
| DEBTORS |
|
|
|
2021 |
2020 |
| Debtors |
305,467 |
242,845 |
| Other Debtors |
93,655 |
75,279 |
|
399,122 |
318,124 |
| CREDITORS −AMOUNTS DUE WITHIN ONE YEAR |
|
|
|
2021 |
2020 |
| Trade Creditors |
61,938 |
55,609 |
| Other Creditors |
10,207 |
10,628 |
| Tax & Social Security |
18,069 |
20,407 |
| Accruals & deferred income |
40,888 |
104,224 |
|
131,103 |
190,868 |
|
|
|
|
|
|
|
|
| RESTRICTED FUNDS |
|
|
Movement in Funds |
|
|
|
|
|
Balance |
|
Incoming |
(Expenditure) |
|
Transfers In |
Balance |
|
|
|
|
|
|
/(Out) |
|
|
01/09/20 |
|
Resources |
& Gains |
|
|
31/08/21 |
| Consolidated fund |
140,221 |
|
3,666 |
21,438 |
|
(22,487) |
142,838 |
| Methodist Building Grants: |
|
|
|
|
|
|
|
| Library Extension |
240,451 |
|
|
(22,118) |
|
|
218,333 |
| New Building Refurbishment |
88,400 |
|
|
(6,800) |
|
|
81,600 |
| Heating overhaul |
198,457 |
|
|
(24,807) |
|
|
173,650 |
| Mission Centre Fund |
57,530 |
|
|
|
|
|
57,530 |
| Principals Discretionary Fund |
4,594 |
|
6 |
(300) |
|
|
4,300 |
| OFS |
|
|
31,660 |
(31,660) |
|
|
|
| MEET |
27,368 |
|
− |
(250) |
|
|
27,118 |
| P'ship in Theological Education |
40,237 |
|
132,575 |
(58,737) |
|
|
114,075 |
| HMRC IRS |
|
|
13,259 |
(13,259) |
|
|
|
| Methodist Chaplaincy |
|
− |
8,000 |
(8,000) |
|
|
|
| St Augustines |
|
− |
9,260 |
|
− |
|
9,260 |
| Methodist Diaconal Order |
|
− |
10,000 |
(10,000) |
|
|
|
|
797,258 |
|
208,426 |
(154,493) |
|
(22,487) |
828,705 |
|
|
|
|
|
|
|
| COMPARATIVES FOR RESTRICTED FUNDS |
|
|
Movement in Funds |
|
|
|
|
Balance |
|
Incoming |
(Expenditure) |
|
Balance |
|
0 1 |
/ 0 9 / 1 9 |
Resources |
|
& Gains |
31/08/20 |
| Consolidated Fund |
132,303 |
|
3,521 |
|
4,397 |
140,221 |
| Methodist Building Grants: |
|
|
|
|
|
|
| Library Extension |
262,569 |
|
|
|
(22,118) |
240,451 |
| New Building Refurbishment |
|
95,200 |
− |
|
(6,800) |
88,400 |
| Heating overhaul |
223,264 |
|
|
|
(24,807) |
198,457 |
| Mission Centre Fund |
|
57,530 |
|
|
|
57,530 |
| Principal's Discretionary Fund |
|
4,975 |
19 |
|
(400) |
4,594 |
| OFS |
|
|
32,788 |
|
(32,788) |
|
| MEET |
|
− |
27,368 |
|
|
27,368 |
| Partnership in Theological Education |
|
|
100,000 |
|
(59,763) |
40,237 |
| HMRC JRS |
|
|
19,657 |
|
(19,657) |
|
| Queen's Methodist Chaplaincy Donation |
|
− |
8,000 |
|
(8,000) |
|
| Hardship fund |
|
− |
4,500 |
|
(4,500) |
|
| Grimmit |
|
|
3,000 |
|
(3,000) |
|
|
775,841 |
|
198,853 |
|
(177,436) |
797,258 |
|
Unrestricted |
Restricted |
Endowment |
Total |
|
Funds |
Funds |
Funds |
Funds |
|
£ |
£ |
£ |
£ |
| Tangible Fixed Assets |
1,302,187 |
473,583 |
332,003 |
2,107,773 |
| Investments |
2,835,893 |
142,838 |
− |
2,978,731 |
| Current Assets |
367,908 |
212,283 |
− |
580,191 |
| Creditors −Within one year |
(131,103) |
|
− |
(131,103) |
|
4,374,885 |
828,705 |
332,003 |
5,535,592 |
|
Unrestricted |
Restricted |
Endowment |
Total |
|
Funds |
Funds |
Funds |
Funds |
|
£ |
£ |
£ |
£ |
| Tangible Fixed Assets |
1,222,298 |
584,624 |
424,269 |
2,231,191 |
| Investments |
2,410,879 |
140,221 |
− |
2,551,100 |
| Current Assets |
562,518 |
72,413 |
− |
634,931 |
| Creditors −Within one year |
(190,869) |
|
− |
(190,869) |
| −After one year |
− |
|
|
|
|
4,004,826 |
797,258 |
424,269 |
5,226,353 |
| Designated Funds |
|
|
|
|
|
|
|
Balance |
Incoming |
Resources |
Gains, (Losses) |
|
Balance |
|
0 1 / 0 9 / 2 0 |
Resources |
Expended |
&Allocations |
Transfers |
31/08/21 |
|
£ |
£ |
£ |
£ |
£ |
£ |
| AD 2062 Stephen |
658,413 |
12,484 |
|
|
|
670,897 |
| Lloyd Fund |
|
|
|
|
|
|
| Research Fund |
86,498 |
|
|
|
|
86,498 |
| Operating |
|
|
|
|
|
|
| expense |
|
|
|
|
|
|
| reserve |
− |
− |
− |
− |
1,000,000 |
1,000,000 |
| Church Workers' |
195,531 |
− |
− |
− |
(195,531) |
|
| Pension Fund |
|
|
|
|
|
|
| Liability |
|
|
|
|
|
|
|
940,442 |
12,484 |
• |
|
804,469 |
1,757,395 |
| Unrestricted Funds |
|
|
|
|
|
|
|
Balance |
Incoming |
Resources |
Gains, (Losses) |
|
Balance |
|
01/09/20 |
Resources |
Expended |
&Allocations |
Transfers |
31/08/21 |
|
£ |
£ |
£ |
£ |
£ |
£ |
| Designated funds |
940,442 |
12,484 |
|
− |
804,469 |
1,757,395 |
| Unrestricted funds |
3,064,384 |
1,826,706 |
(1,885,328) |
393,709 |
(781,982) |
2,617,489 |
|
4,004,826 |
1,839,190 |
(1,885,328) |
393,709 |
22,487 |
4,374,884 |
|
Balance |
Balance |
Incoming |
Incoming |
|
Resources |
Gains, (Losses) |
Gains, (Losses) |
|
Balance |
|
0 1 |
/ 0 9 / 1 9 |
Resources |
|
|
Expended |
&Allocations |
|
Transfers |
,31/08/20 |
|
|
£ |
|
£ |
|
£ |
£ |
|
£ |
£ |
| AD 2062 Stephen |
|
646,711 |
|
11,702 |
|
|
|
|
|
658,413 |
| Lloyd Fund |
|
|
|
|
|
|
|
|
|
|
| Research Fund |
|
101,454 |
|
|
− |
(14,956) |
|
|
|
86,498 |
| Church Workers' |
|
195,531 |
|
|
− |
|
|
− |
− |
195,531 |
| Pension Fund |
|
|
|
|
|
|
|
|
|
|
| Liability |
|
|
|
|
|
|
|
|
|
|
|
|
943,696 |
|
11,702 |
|
(14,956) |
|
|
|
940,442 |
| Comparatives for Unrestricted Funds |
|
|
|
|
|
|
|
|
|
|
|
Balance |
|
Incoming |
|
|
Resources |
Gains, (Losses) |
|
|
Balance |
|
0 1 |
/ 0 9 / 1 9 |
Resources |
|
|
Expended |
&Allocations |
|
Transfers |
31/08/20 |
|
|
£ |
|
£ |
|
£ |
£ |
|
£ |
£ |
| Designated funds |
|
943,696 |
|
11,702 |
|
(14,956) |
|
|
− |
940,442 |
| Unrestricted funds |
2,875,250 |
|
2,138,016 |
|
|
(2,001,051) |
52,169 |
|
|
3,064,384 |
|
3,818,946 |
|
2,149,718 |
|
|
(2,016,007) |
52,169 |
|
|
4,004,826 |
| **A current year 12 months and ** |
|
|
**prior year ** |
|
**12 ** |
**months combined position is ** |
|
|
as follows: |
|
| RESTRICTED FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Movement in Funds |
|
|
|
|
|
|
|
|
Balance |
|
Incoming |
(Expenditure) |
|
Transfers |
Balance |
|
|
|
0 |
1 / 0 9 / 1 9 |
|
Resources |
& Gains |
|
In / (Out) |
31/08/21 |
| Consolidated Fund |
|
|
|
132,303 |
|
7,187 |
25,835 |
|
(22,487) |
142,838 |
| Methodist Building Grants: |
|
|
|
|
|
|
|
|
|
|
| Library Extension |
|
|
|
262,569 |
|
|
(44,236) |
|
|
218,333 |
| New Building Refurb Heating |
|
|
|
95,200 |
|
|
(13,600) |
|
− |
81,600 |
| overhaul |
|
|
|
223,264 |
|
|
(49,614) |
|
− |
173,650 |
| Mission Centre Fund |
|
|
|
57,530 |
|
|
|
|
− |
57,530 |
| Principal's Discretionary |
|
Fund |
|
4,975 |
|
25 |
(700) |
|
|
4,300 |
| OFS |
|
|
|
|
|
64,448 |
(64,448) |
|
|
|
| MEET |
|
|
|
|
|
27,368 |
(250) |
|
|
27,118 |
| P'ship in Theological Education |
|
|
|
|
|
232,575 |
(118,500) |
|
|
114,075 |
| HMRC IRS |
|
|
|
|
|
32,916 |
(32,916) |
|
|
|
| Methodist Chaplaincy |
Donation |
|
|
|
|
16,000 |
(16,000) |
|
|
|
| St Augustines |
|
|
|
|
|
9,260 |
|
− |
|
9,260 |
| Methodist Diaconal Order |
|
|
|
|
|
10,000 |
(10,000) |
|
|
|
| Hardship fund |
|
|
|
|
|
4,500 |
(4,500) |
|
|
|
| Grimmit |
|
|
|
|
|
3,000 |
(3,000) |
|
|
|
|
|
|
|
775,841 |
|
407,279 |
(331,929) |
|
(22,487) |
828,705 |
| Designated Funds |
|
|
|
|
|
|
|
Balance |
Incoming |
Resources |
Gains, (Losses) |
|
Balance |
|
01/09/19 |
Resources |
Expended• |
& |
Transfers |
31/08/21 |
|
|
|
|
Allocations |
|
|
|
£ |
£ |
£ |
£ |
£ |
£ |
| AD 2062 Stephen Lloyd Fund |
646,711 |
24,186 |
|
|
|
670,897 |
| Six months operating exp |
|
|
|
− |
1,000,000 |
1,000,000 |
| Research Fund |
101,454 |
|
(14,956) |
|
|
86,498 |
| Church Workers' Pension |
195,531 |
|
|
− |
(195,531) |
|
| Fund Liability |
|
|
|
|
|
|
|
943,696 |
24,186 |
(14,956) |
|
804,469 |
1,757,395 |
| Unrestricted Funds |
|
|
|
|
|
|
|
Balance |
Incoming |
Resources |
Gains, (Losses) |
|
Balance |
|
01/09/19 |
Resources |
Expended |
& |
Transfers |
31/08/21 |
|
|
|
|
Allocations |
|
|
|
£ |
£ |
£ |
£ |
£ |
£ |
| Designated funds |
943,696 |
24,186 |
(14,956) |
− |
804,469 |
1,757,395 |
| Unrestricted Funds |
2,875,250 |
3,964,723 |
(3,886,379) |
445,878 |
(781,982) |
2,617,490 |
|
3,818,946 |
3,988,909 |
(3,901,335) |
445,878 |
22,487 |
4,374,885 |
| INCOMING RESOURCES FROM CHARITABLE ACTIVITIES |
|
|
|
.2021 |
2020 |
| Student Fees |
|
|
| Centre for Ministerial Formation |
1,043,148 |
1,080,029 |
| Centre for Black Theology |
57,997 |
44,375 |
| Centre for Discipleship Theology |
110,165 |
41,754 |
| Centre for Continuing Ministerial Education |
52,413 |
74,844 |
| Centre for Mission Studies |
|
|
| Non Residential tuition |
|
|
| Research |
35,033 |
42,139 |
|
1,298,756 |
1,283,141 |
| Accommodation Charges |
|
|
| Accommodation |
482,950 |
785,170 |
| External Rents in |
24,703 |
17,563 |
| Conferences, guests etc. |
801 |
45,959 |
|
508,455 |
848,692 |
| Total Fees & Accommodation Charges |
1,807,211 |
2,131,833 |
| OTHER INCOME |
|
|
|
2021 |
2020 |
| OFS Income |
31,660 |
28,605 |
| Global Methodist Relationships (MEET) |
|
27,368 |
| Church of England Tier 4 Contribution |
|
7,000 |
| Church of England Disabled Student Reimbursement |
|
19,917 |
| Sundry Income |
|
|
| Teaching & Learning |
350 |
1,388 |
| Campus Sundry Income |
2,337 |
1,798 |
|
34,347 |
86,076 |
| **1 4 ** |
ANALYSIS OF CHARITABLE EXPENDITURE |
|
|
|
|
2021 |
2020 |
|
Academic & Library Costs |
1,046,339 |
1,147,782 |
|
Disabled Student Expenditure (Reimbursed) |
13,691 |
20,117 |
|
Administrative Costs (excluding Governance) |
410,099 |
350,043 |
|
Catering Costs |
100,091 |
165,120 |
|
Domestic Costs |
43,969 |
58,685 |
|
Premises Costs |
517,677 |
524,796 |
|
Governance Costs |
21,657 |
23,632 |
|
|
2,153,524 |
2,290,175 |
| 15 |
GOVERNANCE COSTS |
|
|
|
|
2021 |
2020 |
|
Salaries −operational staff |
15,217 |
14,952 |
|
Audit fee |
6,440 |
5,760 |
|
Auditors non audit fees |
|
2,920 |
|
|
21,657 |
23,632 |
| 16 |
STAFF EMOLUMENTS |
|
|
|
|
2021 |
2020 |
|
Salary Costs |
933,597 |
1,043,454 |
|
National Insurance |
70,902 |
80,261 |
|
Pension Costs |
109,292 |
130,266 |
|
|
1,113,792 |
1,253,981 |
|
2 0 2 1 |
2021 |
2020 |
2020 |
|
FTE |
Number |
FTE |
Number |
| Academic and Library |
17.7 |
24.8 |
15.3 |
18.8 |
| Administrative and Others |
8.7 |
12.8 |
13.9 |
17.9 |
|
26.4 |
37.6 |
29.2 |
36.7 |
|
2 0 2 1 |
2020 |
| Principal Basic Salary |
|
|
| Per annum (to April 2021) |
32,196 |
31,560 |
| Per annum (from May 2021) |
32,196 |
32,196 |
| Book Allowance |
|
|
| An allowance up to £768 (2020: £768) is claimable upon proof of receipt as an expense. |
|
|
| Responsibility Point (based on the number o f staff in addition to the Principal) |
|
|
| Per annum (to April 2021) |
3,167 |
3,105 |
| Per annum (from May 2021) |
3,167 |
3,167 |
| Accommodation |
|
|
| The principal received free rent and council tax o r housing allowance paid a t the same rate |
|
|
| Per annum (to April 2021) |
9,427 |
9,242 |
| Per annum (from May 2021) |
9,427 |
9,427 |
| AUDITORS REMUNERATION |
|
|
|
2021 |
2020 |
|
£ |
£ |
| The auditors remuneration is comprised of: − |
|
|
| Audit Fees |
6,440 |
5,760 |
| Other Services |
|
2,920 |
|
6,440 |
8,680 |
|
2021 |
2020 |
|
|
£ |
| Not later than one year |
12,844 |
12,844 |
| Later than one and not later than five years |
4,212 |
17,056 |
| Later than five years |
− |
|
| **RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ** |
|
ACTIVITIES |
|
2 0 2 1 |
2020 |
|
|
£ |
| Net income/(expenditure) for the year |
309,239 |
114,962 |
| Interest receivable |
(83,106) |
(82,389) |
| Depreciation and impairment of tangible fixed assets |
280,798 |
264,719 |
| (Gains) on investments |
(415,147) |
(56,566) |
| (Increase) / decrease in debtors |
(80,998) |
(157,175) |
| Increase / (decrease) in creditors |
(59,765) |
(129,790) |
| N e t c a s h f l o w f r o m operating |
(48,978) |
(46,238) |
| activities |
|
|
| During the year the Foundation's contributio |
ns were: |
|
|
2021 |
2020 |
|
E |
|
| CEFPS |
29,472 |
38,784 |
| •CWPF |
21,019 |
12,657 |
| MMPF |
|
21,671 |
FL
• |
57,650 |
47,948 |
|
108,141 |
121,060 |