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← The Commonwealth Education Trust

2022-12-31-accounts

Page
Reference and Administrative
Details
Report ofthe Trustees 2 to 5
Independent
Examiner's		 Report
Statement
of Financial		 Activities
Balance Sheet
Notes tothe Financial Statements 9 to 16

served dur i ng the year and up to the date of this report were: of this report were:
Directors Appointed/resigned
Mr Jeffrey Twentyman Chairman
Mr Andrew Cartwright
Mr Matthew Dixon
Mr Julian Ebai Appointed: 6June 2023
Mr Mark Florman

2022 2021
Unrestricted Restricted Total Total
fund fund funds funds
Notes
Income and endowments from
Donations
and legacies		 12,838 12,838 47,950
Charitable
activities
Educational
programmes		 60,905 60,905 44,137
Other income 167,192 167,192 73,038
Total 240,935 240,935 165,125
Expenditure
on
Raising funds 7,895 7,895 14,608
Charitable
activities
Educational
programmes		 134,643 134,643 170,058
Other 10,808 10,808 19,364
Total 153,346 153,346 204,030
Net gains/(losses)
on investments		 ~)) ~255)
NET INCOME/(EXPENDITURE) 87,588 87,588 (39,190)
Reconciliation
offunds
Total funds brought
forward		 89,016 39,520 128,536 167,726
Total funds carried forward 176,604 39,520 216,124 128,536

The Gomrnonwealth
Education Trust
Balance Sheet
N December 2622
Fixed assets
Tangible assets
Gurrent assets
Debtors
Cash at bank		 6,723
218450		 6,723
'129881
225,173
Greditors
Amounts
falling due within one year		 (9,049) (8,088)
Net currerrt assets 216124 128536
Total assets less current liabilities 216,t24 t28,536
216124 128,598
Funds
Unrestricted funds 176,604 89,0f6
Restricted funds 39520 39520
To'tal funds

are payable
within one ye		 are payable
within one ye		 ar are measured
a		 t the undiscounted
amount		 ofthe cash expected to be p aid.
Donations
and legacies		 2022 2021
Other income 12,838 47,950
Income from charitable activities
2022 2021
Activity
Teacher professional
development Educational programmes 60,905 44,137
Raising funds
Raising donations and legacies
2022 2021
Office costs 18
Investment
management		 costs
2022 2021
Staff costs 7,799
Support costs 4,143 6,448
Administrative
expenses		 350
Travel and subsistence 3,384 361
7,877 14,608
Aggregate
amounts		 7,895 14,608
Other
2022 2021
R
Support costs ~10808 19,364



December 2021.
Staff costs		 y
2022 2021
Wages and salaries 114,744 124,552
Social security costs 1,057 4,111
Other pension costs 1,200 2,725
117,001 131,388
The average
monthly		 number of employees during the year was as follows:
2022 2021
Chief executive 1 1
Secretary 1
No employees
received emoluments		 in excess off60,000.
Comparatives
for the statement		 of financial activities
Unrestricted Restricted Total
fund fund funds
R
Income and endowments from
Donations
and legacies		 47,950 47,950
Charitable
activities
Educational
programmes		 44,137 44,137
Other income 73,038 73,038
Total 165,125 165,125
Expenditure
on
Raising funds 14,608 14,608
Charitable
activities
Educational
programmes		 170,058 170,058
Other 19,364 19,364
Total 204,030 204,030
Net gains/(losses)
on		 investments ~285) ~285)
NET INCOME/(EXPENDITURE)
Transfers between funds		 (39,190)
25D		 ~250) (39,190)

Comparatives for the statement for the statement of financial activities - continued of financial activities - continued
Unrestricted Restricted Total
fund fund funds
Net movement in funds (38,940) (250) (39,190)
Reconciliation offunds
Total funds brought forward 127,956 39,770 167,726
Total funds carried forward 89,016 39,520 128,536
Support costs
2022 2021
Charitable Investment Total Total
activities management Other funds funds
Finance and
administration 8,262 1,180 2,361 11,803 21,371
Rent, rates and
service charges 1,788 255 511 2,554 2,366
Insurance 2,624 375 750 3,749 2, I09
Office costs 7,876 1,125 2,250 11,252 29,396
Governance
costs		 2,520 360 720 ~3600 9,240
2022 Total funds 23,070 3,296 6,591 ~32957 64,482
2021 Total funds 45,138 6,448 12,896 64,482
The comparative support costs for the Charity are:
2021 2020
Charitable Investment Total Total
activities management Other funds funds
Finance and
administration 14,960 2,137 4,274 21,371 30,429
Rent, rates and
service charges 1,656 237 473 2,366 4,942
Insurance 1,476 211 422 2,108 3,960
Office costs 20,578 2,940 5,879 29,396 28,563
Governance
costs		 6,468 924 1,848 ~9240 6,180
2021 Total funds 45,138 6,448 ~12896 ~64 482 ~74074
2020 Total funds 51 852 7,407 14,815 74,074

10. Net movement
in f		 un ds
2022 Total 2021 Total
funds funds
This is stated after charging:
Staff costs 106,264 132,351
Independent
examiner		 fee 3,300 3,000
Operating
lease rentals		 2,554 2,366
11. Debtors: amounts falling due within one year
2022 2021
Other debtors 5,000 5,000
Prepayments
and accrued income		 1,723 1,723
6,723 6,723
12. Creditors: amounts falling due within one year
2022 2021
Expense creditors 3,688 2,190
Other creditors 321 1,678
Accruals and deferred income 5,040 4,200
9,049 8,068
13. Analysis
of net assets between funds
2022 2021
Unrestricted Restricted Total Total
fund fund funds funds
Current assets
Current
liabilities		 185,653
~9,049)		 39,520 225,173
~9,049)		 136,604
~8,088)
176,604 39,520 216,124 128,536
14. Movement
in funds
Net
movement At
At 1/1/22 in funds 31/12/22
Unrestricted
funds
General funds 89,016 87,588 176,604
Restricted funds
Restricted funds
39,520 39,520
TOTAL FUNDS 128,536 87,588 216,124

Net movement in funds,
incl		 ude d
in t		 he above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
Unrestricted funds
General funds 240,935 (153,346) (1) 87,588
TOTAL FUNDS 240,935 )) 53,346) ~)) 87,588
Comparatives for movement in funds
Net Transfers
movement between At
At 1/1/21 in funds funds 31/12/21
Unrestricted funds
General funds 127,956 (39,190) 250 89,016
Restricted funds
Restricted funds
39,770 (250) 39,520
TOTAL FUNDS 167,726 ~39,190) 128,536
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
Unrestricted funds
General funds 165,125 (204,030) (285) (39,190)
TOTAL FUNDS 165,125 )204,030) ~265) ~39,190)
A current year 12months
and prior		 year 12months
combined
p		 osition
is as follo		 ws:
Net Transfers
movement between At
At 1/1/21 in funds funds 31/12/22
Unrestricted funds
General funds 127,956 48,398 250 176,604
Restricted funds
Restricted funds
39,770 (250) 39,520
TOTAL FUNDS 167,726 48,398 216,124

A current year
as follows:		 12 months
and prio		 r year 12 months
combined		 net movement
in		 funds,
included		 in the above a
Incoming Resources Gains and Movement
resources expended losses in funds
Unrestricted funds
General funds 406,060 (357,376) (286) 48,398
TOTAL FUNDS 406,060 )357.376) ~266) 48,398

Balance at 1 Balance at 31
January 2022 Income Expenditure Transfer to restricted December 2022
Education funds 31 31
Scottish funds 39,489 39489
39,520 39520