##
|Legal and administrative
information|Legal and administrative
information|
|---|---|
|Report ofthe Trustees||
|Independent
auditor's|report|
|Statement offinancial|activities|
|Balance sheet||
|Statement ofcash flows||
|Notes to the financial|statements|
##
|Directors &|Trustees:||Mr D Cooper|||(resigned|26September 2019)|26September 2019)|26September 2019)|26September 2019)|
|---|---|---|---|---|---|---|---|---|---|---|
||||Ms SDornyei||||||||
||||Mr D Howard||||||||
||||Ms E Hunt
MsJJarman|||(appointed
(appointed||1 February 2020)
1 February 2020)|||
||||Ms R Lowe||||||||
||||Ms J Parr|||(Chair)|||||
||||Mr J Perry|||(resigned|20 November 2019)||||
||||Ms S Pesic-Smith||||||||
||||Ms CStevens||||||||
||||Ms JWard||||||||
||||Mr A Warren||||||||
||||Ms
I Wilson||||||||
|Senior Management:|||Ms T Forman|(Principal)|||||||
||||Ms V Myko|(Head ofSpecialist||||Support|&Pastoral||
||||Services)||||||||
||||Ms SFreeman|(Head ofCare &|||Support —resigned|||21|
||||February 2020)||||||||
||||Ms C Ibbotson|(Head ofCurriculum||||&Quality—|||
||||appointed
20 April||2020)||||||
||||Ms SPickering|(Head of Human|||Resources)||||
||||Mr SWhiting|(Head of Finance|||&Business Services—||||
||||resigned 28 February 2020)||||||||
||||Mr P Fletton|(Head of Finance|||&|Business Services—|||
||||appointed 9March||2020)||||||
|Registered|Office:||217 Loughborough||Road||||||
||||Mountsorrel||||||||
||||Loughborough||||||||
||||Leicestershire||||||||
||||LE127AR||||||||
|Registered|Company|Number:|04956068 (England||and Wales)||||||
|Registered|Charity Number:||1114995||||||||
|Auditor:|||The Rowleys Partnership|||Ltd|||||
||||Charnwood
House||||||||
||||Harcourt Way||||||||
||||Meridian Business||Park||||||
||||Leicester||||||||
||||LE191WP||||||||
|Bankers:|||NatWest Bank Pic||||||||
||||Market Place||||||||
||||Loughborough||||||||
||||Leicestershire||||||||
||||LE113EA||||||||
|Solicitors:|||Shakespeare
Martineau||||||||
||||2 Colton Square||||||||
||||Leicester||||||||
||||LE1 1QH||||||||
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|Mr
Ms|D Cooper
SDornyei|(resigned|26 September 2019)|
|---|---|---|---|
|Mr|D Howard|||
|Ms
Ms|E Hunt
JJarman|(appointed
(appointed|1 February 2020)
1 February 2020)|
|Ms|R Lowe|||
|Ms|J Parr|(Chair)||
|Mr|J Perry|(resigned|26September 2019)|
|Ms|SPesic-Smith|||
|Ms|CStevens|||
|Ms|JWard|||
|Mr|A Warren|||
|Ms|I Wilson|||
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|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
||||Notes|Funds|Funds|2020|2019|
|||||K|F|6|6|
|Income and endowments||from||||||
|Donations
and legacies|||5.a||||3,570|
|Charitable
activities|||5.b|4,447,418||4,447,418|4,481,790|
|Investments|||5.c|3,827||3,827|2,601|
|Total income and endowments||||4,451,245||4,451,245|4,467,961|
|Expenditure
on||||||||
|Charitable
activities|||6|4,419,982||4,419,982|4,500,529|
|Total expenditure|||6|4,419,982||4,419,982|4,500,529|
|Net income/(expenditure)||||31,263||31,263|(12,568)|
|Total funds brought|forward|||2,246,346||2,246,346|2,258,914|
|Total funds carried|forward|||2,227,609||2,277,609|7,246,346|
##
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|||||Notes||2020||2019|
|---|---|---|---|---|---|---|---|---|
|Fixed Assets|||||||||
|Tangible fixed assets||||||1,514,320||1,568,344|
|Current Assets|||||||||
|Stock||||9|6,963||2,663||
|Debtors||||10|132,434||159,013||
|Cash at bank and|in|hand||11|1,765,400||1,650,071||
||||||1,904,797||1,811,747||
|Creditors: amounts||falling|due||||||
|within one year||||12|(471,041)||(425,398)||
|Net current assets||||||1,433,756||1,386,349|
|Total assets less|current||liabilities|||2,948,076||2,954,693|
|Creditors: amounts||falling|due||||||
|after more than one||year||13||(670,467)||(708,347)|
|Net assets||||||2,277,609||2,246,346|
|Funds|||||||||
|Unrestricted
funds||||18||2,277,609||2,246,346|
|Total funds||||||2,277,609||2,246,346|
##
|||||2020|2019|
|---|---|---|---|---|---|
|||||6|6|
|Cash flows from operating|activities|||||
|Profit / (Loss) for the financial|year|||31,263|(12,568)|
|Adjustment
for:||||||
|Depreciation
oftangible assets||||77,062|75,200|
|Assets now expensed|||||49,941|
|Loss on disposal of tangible|assets||||1,386|
|Interest
paid
Intoroct ror oivorl||||21,464
is asvi|24,555
Io Rnid|
|Decrease/(increase)
in debtors||||39,838|13,372|
|(Increase)
in stock||||(4,300)|(23)|
|Increase/(Decrease)
in creditors||||33,155|(31,594)|
|Net cash generated
from operations||||194,655|117,668|
|Cash flows from investing|activities|||||
|Purchase oftangible assets||||(23,038)|(28,984)|
|Proceeds from sale oftangible assets||||||
|Interest received||||3,827|2,601|
|Net cash used in investing|activities|||(19,211)|(26,383)|
|Cash fiows from financing|activities|||||
|Repayment
of bank loans||||(38,651)|(36,760)|
|Interest paid||||(21,464)|(24,555)|
|Net cash (used in)/from
financing||activities||(60,115)|(61,315)|
|Net increase/(decrease)
in|cash and cash||equivalents|115,329|29,970|
|Cash and cash equivalents|at beginning||ofyear|1,650,071|1,620,101|
|Cash and cash equivalents|at end|ofyear||1,765,400|1,650,071|
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|||2020|2019|
|---|---|---|---|
||||E|
|LA student fees||3,4/o&e64|3,513,390|
|DSS student
contributions||17,873|17,124|
|EFA student
contributions||901,686|785,055|
|Barrow of Treats|Coffee Shop|13,144|35,819|
|Print Shop/Ebay|activities|2,6'75|11,586|
|Other income||12,967|17,622|
|Grant income||23,409|1,194|
|Profit on disposal|oftangible fixed assets|||
##
|The aggregate
payroll|costs ofthese p|ersons were as f|ollows:||
|---|---|---|---|---|
||||2020f|2019f|
|Wages and salaries|||2,466,030|2,334,976|
|Social security costs|||190,439|177,256|
|Pension costs|||48,415|40,805|
|Agency staff|||94,178|160,582|
|Termination
payments|||21,410|33,203|
||||2,820,472|2,746,822|
|The number
of higher|paid employees|was:|No.|No.|
##
|8.|Tangible fixed assets|Tangible fixed assets|||||||
|---|---|---|---|---|---|---|---|---|
|||||Long|Leasehold|Fixtures,|||
||||Freehold|Leasehold|Property|fittings &|Motor||
||||Property
E|Property
K|Improvements|equipmentf|vehicles
6|Total
E|
||Cost||||||||
||At beginning|of year|1,474,934|214,230|71,034|85,077|143,804|1,989,079|
||Additions||||18,538||4,500|23,038|
||Disposals||||||||
||At end ofyear||1,474,934|214,230|89,572|85,077|148,304|2,012,117|
||Depreciation||||||||
||At beginning
I C
C
Ul lclluV
IUI|ofyear
IC
V IV yVCII|153,696
hh Aha
CV, IVV|56,476
A Ahc
I, IVI|65,947
h hh~
V,VV I|35,185
lh C lh
CU,UCV|109,431
Ih I'7'I
IV,VI I|420,735
VW hhh
II,VVC|
||Disposals||||||||
||At end ofyear||183,194|60,967|69,014|55,814|128,808|497,797|
||Net book value||||||||
||At 31July|2020|1,291,740|153,263|20,558|29,263|19,496|1,514,320|
||At 31July|2019|1,321,238|157,754|5,087|49,892|34,373|1,568,344|
|9.|Stock||||||2020|2019|
||||||||6||
||Coffee shop stock &PPE||||||6,963|2,663|
||Coffee shop stock purchases|Coffee shop stock purchases|recognised|in expenditure|during the year as an expense was 88,599(2019:|during the year as an expense was 88,599(2019:|
|---|---|---|---|---|---|---|
||824,016).||||||
|10.|Debtors||||2020|2019|
||||||K|K|
||Trade debtors||||101,005|29,893|
||Prepayments|and accrued income|||31,429|129,120|
||||||132,434|159,013|
|11.|Cash and|cash equivalents|cash equivalents|||2020|2019|
|---|---|---|---|---|---|---|---|
|||||||E|E|
||Cash at bank and
in||hand|||1,765,400|1,650,071|
|12.|Creditors:|amounts|falling|due within one|year|2020|2019|
|||||||E|K|
||Bank loans|and overdrafts||||40,151|40,922|
||Trade creditors|||||21,704|148,631|
||Taxation and social||security|||55,977|47,885|
||Other creditors|||||12,527|80,871|
||Accruals|||||303,289|29,256|
||Deferred income|||||37,393|77,833|
|||||||471,041|425,398|
||Deferred income represents|||income received|in advance for social care services provided
by||the|
||College
in|the next financial||year.||||
|13.|Creditors:|amounts|falling|due after more|than one year|2020|2019|
|||||||E||
||Bank loans|||||670,467|708,347|
||Analysis ofloans|||||||
||Repayable|within one year||||40,151|40,922|
||Repayable|between|two and|five years||164,934|175,572|
||Repayable|in more than five||years||505,533|532,775|
|||||||710,618|749,269|
||Included
in|liabilities|falling due within one year|||(40,151)|(40,922)|
|||||||670,467|708,347|
##
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|16.|Financial com|mitments||||||||
|---|---|---|---|---|---|---|---|---|---|
||As at 31 July|2020, the company|had future|commitments|under|non-cancellable|operating|leases|as|
||follows:|||||||||
|||||||2020||2019||
||||||||6|||
||Expiry date:|||||||||
||Within one year|||||55,412||52,867||
||Between two|and five years||||66,639||172,169||
||Over five years|||||120,833||||
|17.|Unrestricted|funds||||||||
||||At 1|Income|Expenditure|||At 31||
|||August 2019||||Transfers||July 2020||
||||6||||6||6|
||Designated
Fund|||||||||
||Property strategy|||||||||
||General funds|||||||||
||Fixed assets||1,568,344|||(77,062)|23,038|1,514,320||
||Free reserves||678,002|4,451,245|(4,342,920)||(23,038)|763,289||
||||2,246,346|4,451,245|(4,419,982)|||2,277,609||
##
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|||At 1|Income|Expenditure||At 31|
|---|---|---|---|---|---|---|
|||August 2018||8|Transfers
8|July 2019
f|
|Designated
Fund|||||||
|Property strategy||50,000||(57,899)|7,899||
|General funds|||||||
|Fixed assets||1,665,887||(75,200)|(22,343)|1,568,344|
|Free reserves||543,027|4,486,767|(4,366,236)|14,444|678,002|
|||2,258,914|4,486,767|(4,499,335)||2,246,346|
|Restricted funds|||||||
|Comparative|restricted funds||||||
|||At 1|Income|Expenditure|Transfers to|At 31|
|||August 2018|||Unrestricted|July 2019|
|||8||6|6|8|
|Trinity College|—Arts Grant||1,194|(1,194)|||
||||1,194|(1,194)|||
##
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|20.|Amounts|disbursed|as agent|||
|---|---|---|---|---|---|
||Discretionary
Support Funds|||2020|2019f|
||At beginning
nf year|||8249|6881|
||Amounts|received||12,503|6,510|
||Amounts|disbursed||(5,460)|(7,142)|
||At end of|year||13,292|6,249|