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2021-05-31-accounts

Charity Registration No. 1119034

Company Registration No. 05924196 (England and Wales)

THE ISLAND PROJECT

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

THE ISLAND PROJECT

LEGAL AND ADMINISTRATIVE INFORMATION

Directors

L J Doble C P Browning Mr G Booth J A Walters-Hutton

Secretary S D Gallagher Charity number 1119034 Company number 05924196 Registered office Diddington Hall Diddington Lane Meriden Coventry CV7 7HQ Auditor Jerroms Suite 1 The Gardens Coleshill Manor Office Campus South Drive Coleshill B46 1DL

THE ISLAND PROJECT

CONTENTS

Page
report 1 - 3
Statement of responsibilities 4
Independent auditor's report 5 - 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the financial statements 10 - 16

THE ISLAND PROJECT

REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MAY 2021

The trustees present their annual report and financial statements for the year ended 31 May 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charities governing document, the Companies Act 2006 and "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

To advance the education and well being of children and young people with autism

To advance the acceptance of those diagnosed with autism through a school and through the provision of training, training materials and the dissemination of research results to professionals and carers.

To promote and maintain assistance

To provide guidance, assistance and help to families and carers of children and young people diagnosed with autism and associated disorders.

To raise funds and invite and receive contributions

The Charity will draw, make, accept, endorse, discount, execute and issue bills, cheques and other instruments and to operate bank accounts in the name of the Charity, providing that in raising funds the Charity shall not undertake any substantial permanent trading activities and shall conform to any relevant statutory regulations.

The Charity has power to acquire, alter, improve and (subject to such consents as may be required by law) to charge or otherwise to dispose of property. It also has power to pay out of the funds of the Charity the costs, charges and expenses of and incidental to the formation and registration of the Charity.

To co-operate with other charities

To co-operate with other charities, voluntary bodies and statutory authorities operating in furtherance of the objectives of similar charitable purposes and to exchange information and advice with them.

To establish or support any additional charitable trusts, associations or institutions formed for all or any of the objectives.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The outcome of the recent Ofsted inspection was a success, and a follow up Quality Assurance Visit with Leicestershire County Council was also successful.

Over the past 12 months, we have received consultations from a number of new authorities, including Torbay, Telford & Wrekin, Northampton and Lincolnshire. Due to the transition issues for pupils from these areas, the School was unable to accommodate the pupils, but the increased profile of the School is very positive.

Structure, governance and management

The organisation is a charitable company limited by guarantee (“the Charity”), incorporated on 4 September 2006. The Charity was established under a memorandum of Association which established the objectives and powers of the charitable company and is governed under its Articles of Association. In the event of the Charity being wound up members are required to contribute an amount not exceeding £10.

THE ISLAND PROJECT

REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

The trustees who are also the directors for the purpose of company law, who served during the year and up to the date of signature of the financial statements were:

L J Doble

C P Browning Mr G Booth

J A Walters-Hutton

Hs2

The Trustees note that their report for 2019 contained a statement that “the move will take place in the next 12 to 18 months provided there are no catastrophic events during construction”. The School has met every request and demand placed upon it by Hs2 to provide information in respect of the move, and the fact that the move has not happened in the timescale is entirely beyond the control of the School.

The School continues to work with Hs2 towards the move, including working with Deloittes around reduction of operating costs and overheads. The School welcomes the coming changes but as stated previously, the ongoing delay in moving to new premises continues to put undue pressure on the School infrastructure.

The School was informed by our agents that Planning Permission and consent from British Heritage were received in November 2021, and HS2 have indicated that they are working towards a commencement of transition to the new site for December 2022. At the time of writing the report, however, our agents are awaiting consent on starting procurement for works.

Whilst the School is committed to the move, the impact of the continuing delays and constant change in potential move date cannot be underestimated. These delays and lack of certainty around a move date continue to provide operational challenges for the School: whilst all local authorities continue to consult with the School regularly, uncertainty around transition means that it is difficult to accept some pupils knowing the potential impact that a further transition within potentially a short period would have.

Covid-19

Covid-19 continues to effect the School in terms of management and staffing issues. However, throughout the pandemic period, school closures have been minimal, and the pupils returned in September 2021 to a full timetable.

The financial impact of Covid-19 continues in terms of additional reporting (including daily reporting to the Department for Education), increased costs (cleaning and material costs), provision of online learning for those pupils able to access, provision and postage of physical resources for pupils who are self-isolating/undertaking remote learning

As an independent school, we are not entitled to the vast majority of the support that the government and local authorities provide for their own schools. However, we did receive a small grant towards the initial setup costs for lateral flow testing in school and the government has provided free PPE from summer 2020. We have not received any additional funding and requests for fee increases have not been granted by either East or West Midlands Consortia.

A number of local authorities, particularly Warwickshire CC, Solihull MBC and Leicestershire CC have offered other support for which the School is grateful.

Our thanks is extended to all of our staff for putting the needs of the pupils first, to the Senior Leadership Team for their hard work and particularly to the Education Director and Welfare, Safeguarding & Safety Director for their exemplary support of staff and families.

THE ISLAND PROJECT

REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

Ofsted

Ofsted inspected the School in June/July 2021 and the School received a “good” judgment. The Inspectors found that

Auditor

In accordance with the company's articles, a resolution proposing that Jerroms be reappointed as auditor of the company will be put at a General Meeting.

The report was approved by the Board of Trustees.

J A Walters-Hutton

17 January 2022

THE ISLAND PROJECT

STATEMENT OF RESPONSIBILITIES

FOR THE YEAR ENDED 31 MAY 2021

The trustees , who are also the directors of The Island Project for the purpose of company law, are responsible for preparing the Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the are required to:

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

THE ISLAND PROJECT

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE ISLAND PROJECT

Opinion

We have audited the financial statements of The Island Project (the ‘charity’) for the year ended 31 May 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice) .

In our opinion, the financial statements:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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

In auditing the financial statements, we have concluded that the use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

THE ISLAND PROJECT

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ISLAND PROJECT

Responsibilities of trustees

As explained more fully in the s tatement of responsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’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.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 an auditor's report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's 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 company and the company’s members, as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Richard Alan Horton FCCA (Senior Statutory Auditor)
for and on behalf of Jerroms 17 January 2022
Chartered Certified Accountants
Statutory Auditor Suite 1 The Gardens
Coleshill Manor Office Campus
South Drive
Coleshill
B46 1DL

Jerroms is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

THE ISLAND PROJECT

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2021

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2021 2020
Notes
£		 £
Income and endowments from:
Donations and legacies 3 81 6,585
Charitable activities 4 1,003,997 1,093,099
Other income 5 203,340 209,000
Total income 1,207,418 1,308,684
Expenditure on:
Charitable activities 6 1,217,395 1,200,282
Net (expenditure)/income for the year/
Net movement in funds (9,977) 108,402
Fund balances at 1 June 2020 (12,817) (121,220)
Fund balances at 31 May 2021 (22,794) (12,818)

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE ISLAND PROJECT

BALANCE SHEET

AS AT 31 MAY 2021

2021
Notes
£
Fixed assets
Tangible assets
9
Current assets
Debtors
10
113,800
Cash at bank and in hand
125,693
239,493
Creditors: amounts falling due within
one year
12
(253,949)
Net current liabilities
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
13
Net liabilities
Income funds
Unrestricted funds		 2020
£
£
562
13,800
194,120
207,920
(221,863)
(14,456)
(13,894)
(8,900)
(22,794)
(22,794)
(22,794)		 £
1,125
(13,943)
(12,818)
-
(12,818)
(12,818)
(12,818)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2021, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 17 January 2022

J A Walters-Hutton Trustee

Company Registration No. 05924196

THE ISLAND PROJECT

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MAY 2021

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
Net cash used in investing activities
Financing activities
Repayment of bank loans
Net cash generated from/(used in)
financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2021
£
10,000		 £
(78,427)
-
10,000
(68,427)
194,120
125,693		 2020
£
-		 £
75,665
-
-
75,665
118,455
194,120

THE ISLAND PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

1 Accounting policies

Charity information

The Island Project is a private company limited by guarantee incorporated in England and Wales. The registered office is Diddington Hall, Diddington Lane, Meriden, Coventry, CV7 7HQ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charities governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

The directors of the company have prepared these financial statements on the going concern basis, despite the balance sheet showing a deficit at 31 May 2021 of £22,794. The company made a loss during the year of £9,977, this outcome was as a result of the disruption caused to the company by the implementation of the HS2 Rail Project. Given the prolonged political uncertainty which this project has attracted, local authorities had been reticent to commit to using the facilities provided by the school. Pupil numbers declined, reducing the income stream and inevitably overheads were slow to mirror the downturn. However after much negotiation, agreement was reached with High Speed Rail regarding financial compensation for the disruption caused. Further compensation was received in November 2021. The continued costs of additional procedures implemented as a result of the Covid-19 pandemic has also contributed to the deficit.

The directors are confident that the funding received will enable the company to continue to meet it's financial liabilities and therefore believe the going concern basis to be appropriate.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

THE ISLAND PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

1 Accounting policies

(Continued)

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 25% straight line Computers 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE ISLAND PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

THE ISLAND PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Donations and gifts 81 6,585
Charitable activities
Charitable
Charitable
Income
Income
Heading 1
Heading 1
2021
2020
£
£
Sales within charitable activities 1,003,997
1,093,099
Other income
Unrestricted Unrestricted
funds funds
2021 2020
£ £
Discretionary compensation payments 203,340 209,000

4 Charitable activities

5 Other income

THE ISLAND PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

6 Charitable activities

Charitable
Expenditure
Heading 1
Charitable
Expenditure
Heading 2
2021
2021
£
£
Staff costs
719,737
67,925
Depreciation and
impairment
-
563
Therapy
21,927
-
Educational resources
16,520
-
Sub-contract support
45,688
-
CRB checks
313
-
Rent
-
185,905
Rates and water
-
1,840
Insurance
-
17,214
Light and heat
-
16,719
Cleaning
-
32,896
Property repairs and
maintenance
-
34,387
Printing, postage and
stationery
-
11,715
Telephone
-
3,529
Computer costs
-
4,803
Motor and travel expenses
-
14,260
Legal and professional
fees
-
17,039
Other charitable
expenditure
-
4,415
804,185
413,210
804,185
413,210		 Total
2021
Charitable
Expenditure
Heading 1
Charitable
Expenditure
Heading 2
2020
2020
£
£
£
787,662
718,303
55,082
563
-
611
21,927
22,461
-
16,520
17,496
-
45,688
35,465
-
313
1,386
-
185,905
-
197,035
1,840
-
2,897
17,214
-
21,211
16,719
-
16,831
32,896
-
25,305
34,387
-
26,569
11,715
-
11,329
3,529
-
7,099
4,803
-
4,028
14,260
-
14,964
17,039
-
17,428
4,415
-
4,782
1,217,395
795,111
405,171
1,217,395
795,111
405,171		 Total
2020
£
773,385
611
22,461
17,496
35,465
1,386
197,035
2,897
21,211
16,831
25,305
26,569
11,329
7,099
4,028
14,964
17,428
4,782
1,200,282
1,200,282

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

8 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
38 39

THE ISLAND PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

8
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2021
2020
£
£
472,224
457,556
46,447
48,092
23,215
24,137
787,662
773,385

There were no employees whose annual remuneration was more than £60,000.

9
Tangible fixed assets
Fixtures and
fittings
Computers
£
£
Cost
At 1 June 2020
2,134
5,785
At 31 May 2021
2,134
5,785
Depreciation and impairment
At 1 June 2020
2,134
4,660
Depreciation charged in the year
-
563
At 31 May 2021
2,134
5,223
Carrying amount
At 31 May 2021
-
562
At 31 May 2020
-
1,125
10
Debtors
2021
Amounts falling due within one year:
£
Other debtors
113,800		 Total
£
7,919
7,919
6,794
563
7,357
562
1,125
2020
£
13,800

THE ISLAND PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021

11
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year
12
Creditors: amounts falling due within one year
Notes
Bank loans
11
Other taxation and social security
Other creditors
Accruals and deferred income
13
Creditors: amounts falling due after more than one year
Notes
Bank loans
11
14
Related party transactions		 2021
£
10,000
1,100
8,900
2021
£
1,100
64,413
175,538
12,898
253,949
2021
£
8,900		 2020
£
-
-
-
2020
£
-
11,685
200,574
9,604
221,863
2020
£
-

There were no disclosable related party transactions during the year (2020 - none) .

15
Analysis of changes in net funds
At 1 June 2020
Cash flows At 31
£
£
Cash at bank and in hand
194,120
(68,427)
Loans falling due within one year
-
(1,100)
Loans falling due after more than one year
-
(8,900)
194,120
(78,427)		 May 2021
£
125,693
(1,100)
(8,900)
115,693