SEVEN HILLS EOUCATIONAL TRUST Charlty No. 1128139 Company No. 06716163 Trustees. Report and Unaudlted Accounts 31 Ortober 2022
SEVEN HILLS EDUCATIONAL TRusr Contents Pages 2to3 Trustees, Annual Report Independent Examiner's Report Statement of Financial ArtNities Summary Income and Expenditure Account Balance Sheet Statement of Cash flows Note5 to the Accounts Detailed Statement of Financlal Artfvltles 9t017 18to20 Page I
SEVEN HILLS EDUCATIONAL TRU Trustees Annual Report The trustees. who are also directors of the charity for the purposes of the Companies Art 2006, present their report Wtth the unaudited financial statements of the charity forthe year ended 31 October 2022. REFERENCE AND ADMINISTRATIVE DAl Company No. 06716163 CharSty No. 1128139 Prlncipal Offlce Marathon House 1-9 Evelyn Street London SE8 5RQ Reglstered Offlce Marathon House 1-9 Evelyn Street london SE8 5RQ Dlrectors ond Trustees The Dlrettors of the charitable company are Its Trustees for the purposes of charlty law. The followlng DSrectors and Trustees served during the year.. E. Arican K. Canbay O.F. Demlr l. Parlak D. Yavuzhan Accountants GREEN WAKEEL LTD 119 New Road 3 rd Floor London EI IHJ Bankers HSBC Bank I South Place London EC2M OWECTIVES AND ACTIVITIES Page 2
SEVEN HILLS EDUCATIONAL TRusr Trustees Annual Report The purpose of the charity as set out in its governing document is that of the advancement of education of pupils and students in the United Kingdorn.The Trustees confirm that they have paid due regard to the giudence ¢ontaln in the Charity Commission s Eenerdl gijidance on public benefit when reviewing the Trust"s aims and objectives in setting the policy for the period. FINANCIAL REVIEW A review of the charity's financlal position at the year end 31 October 2022 the level of income for the year remained satisfactory and enable the trust to support its level of expenditure on the charitable objectives. There was surplus for the year ended 31 Ortober 2022 of £ 21191 as compared to net deficit of £8201 for the year ended 2021. PLANS FOR FUTURE PERIODS The pollcles and purposes of the Trust shall continue under the provlslons of the Trust deed with re8ards to the publlc benefrt STRUCTURE. GOVERNANCE AND MANAGEMENT The nature of the governing document and how the charity Is constituted .The Trust Is registered as a charitable company limited by gurantee as set up in the Memorandum of Association on 060ctober 2008. The management of the trust is the responsibllty of the Trustees. The day to day administration of the Trust is carried out by the operating Trustee. The Trustees are responslble for keeping proper accountin8 records that dlsclose wlth reasonable accuracy at any tSme the linanclal posltlon of the charity and to enable them to ensure that the ftnanclal statements comply wlth the Companles Act 21x16. The Trustees are also SpOnsible for safeguardlng the assets of the charlty and hence taking reasonable steps for the preventlon and detection of fraud and other Irregularltles. The above report has been prepared In accordance with the provlsions applicable to companles subject to the small companles reglme as set out In Part 15 of the Companies Act 2006 and in accordance with the Charitles SORP IFRS 1021. Sl8ned on behalf of the board K. Canba Trustee 15 September 2023 Page 3
SEVEN HILLS EDUCATIONAL TRU Independent Examiners Report Independent Examiner's Report to the trustees of SEVEN HILLS EDUCATIONAL TRUST I report to the chartty trustees on my examination of the financFal Statements of SEVEN HILLS EDUCATIONAL TRUST for the year ended 31 October 2022. ResponslbllIes and basis of report As the charty's trustee5 of the company land also Its director5 for the purwses of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2(KJ61'the 2006 Act. Havln8 satisfled myseff that the financial Statements of the Chartty are not required to be audSted under Part 16 of the 2006 Act and are eligible for Independent examination, I report in respect of my examlnatlon of vour charity's financial Statements as carried out under section 145 of the Charities Aci 20111.the 2011 Act'l. In carrying out my examlnation I have followed the Directions gfven by the Charlty Commlssion under sectSon 145151 Ibl of the 2011 Art. Independent examiner'5 Statement As the chaflty's Bross Income exceeded £250,C(K) your examiner must be a member of a body listed in settion 145 of the 2011 Act. I confimi that l am qualified to undertake the examinatlon because l am member of Institute of Flnanclal Accountants, whlch one of the liste(1 bodies. I have compleied my examination. I can confirm that no material matters have come to my attentlon in connection with the examlnation givlng me cause to believe= accountlng records were not kept In accordance with sertion 386 of the 20)6 Act,. or the financial statements do not accord with those records- or the financial stalements do not comply wilh the accounting requirements under sectlon 396 of the 2CK16 Act other than any requirement that the flnancial st3tementS 8lve a 'true and fair. view which Is not a rnatter consldered as part of an independent examination: or the flnancial statements have not been prepared In accordance with the methods and pr4nclple5 of the Statement of Recommended Practice for accountin8 and reportlng by charlties applicable to charlties preparin8 thelr accounts in accordance wtih the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connectlon with the eKamlnation to which attention should be drawn in this report in order lo enable a proper understandln8 of the f4nancial statements to be reached. Mohammed Safiullah Institute of Financial Accountants GREEN WAKEEL LTD 119 New Road 3 rd Floor London EI IHJ 15 September 2023 Pa8e 4
SEVEN HILLS EDUCATIONAL TRUST Statement of Financial Activities for the year ended 31 October 2022 Unre5trirted lunds Total funds Total funds 2022 2022 2021 Notes Income and endowments from: Donations and legacles Charitable activities Other trading activities Other 148.310 47,050 267,287 77 148,310 47,050 267,287 77 119,611 122,351 258,235 Total 462,724 462,724 s,201 Expenditure on.. Rai5in8 funds Charitable attlvltles Other 29 29 8,379 433,125 3,550 8,919 495,933 8,379 433,125 li Total 441,533 441,533 508,402 Net gains on investments Net incomellexpendlturel Transfer5 between funds Net income/lexpendlturel before other galns}Ilossesl Other galns and losses 12 21,191 21,191 18,2011 21,191 21.191 18,2011 Net movement in funds 21,191 21,191 18,2011 Reconclliation of funds., Total fund5 brought fotward 115.938 115.938 115,865 Totsl funds carrled forward 137,129 137.129 107,664 Page 5
SEVEN HILLS EDUCATIONAL TRusr Summary Income and Expenditure Account for the year ended 31 Ortober 2022 2022 2021 Income 462,724 500,201 Gr05s Income for the year Expenditure 462,724 500,201 507,075 439,434 Interest payable 1.161 Depreclatlon and charges for impairment of flxed assets 938 1.327 Total expendlture for the year Net income/lexpenditurel before tax for the year 441,533 508,402 21.191 18,2011 Net Income l(expendlture Ifor the year 21,191 18,2011 Page 6
5V4EN HILLS EOUCATIONAL TRU Balance Sheet at 31 O¢tober 2022 Company No. 06716163 Notes 2022 2021 Flxed assets Tangible assets 14 2,363 2,363 3,301 3,301 Current asset5 Debtors Cash at bank and in hand 15 366,278 5,509 371,787 12CX),0581 171,729 308.792 26,844 335,636 1176,5481 159,088 Credltlxs: Amount falllng due wrthin one year Net current assets 16 Total assets less ¢urrent liabilltles Creditors.. Amounts falling due after MO than one year Net assets exdudin8 pension a55et or liabillty Total net assets 174.092 162,389 17 136,963 137.129 146,4511 115,938 137,129 115,938 The fund5 of the charlty Restrlcted funds Unrestricted fvnds Genergl funds 18 18 137.129 115,938 137.129 115,938 Reserves 18 Total funds 137,129 115,938 These accounts have been prepared In accordance wlth the special provislons of Part 15 of the Companies Act 2006 relatlng to small companies. For the year ended 31 Ottober 2022 the company was entltled to exemption under section 477 of the Companles Act 2006 relatinB to small companies. The member5 have not requlred the company to obtain an audit in accordance with sertion 476 of the Companles Act 2¢X)6. The dirertors acknowledge their responsibilities for complying with the requirements of the Companies Act 2LK16 with respect to accountlng records and the preparation of accounts. Approved by the board on 15 September 2023 And signed on its behalf by.. E. Arlta Trustee 15 September 2023 Page 7
SEVEN HILL5 EDUCATIONAL TRUST Statement of Cash flows for the year ended 31 OctobeT 202Z 2022 2021 Cash flows from operatlng artlvltles Net income per Statement of Finanaal Activltle5 21.191 73 Adlustments for: Depreciation of property. plant and equipment Dividends, interest and rents from investments Increase in trade and other ceivable5 IncreasellDecreasel in trade and other payables 938 1771 157,4861 23,510 1,327 141 131.5311 18.3191 Net cash used In operatlng actmtles 111.9241 138,4541 Cash flo from Investln8 artivltle5 Divldends, Interest and rents from investments 77 Net cash fromllused In) In¥estln8 actlvltles 77 13251 Cash flows from flnancln8 artlvltles Repayment of borrowings 19,4881 13,5491 Net cash used In finan¢lng activltie5 19,4881 13,5491 Net decrease In cash and cash equlvalents 121,3351 142.328 Cash and cash equlvalents at the be8innln8 of the year 26.844 70,971 Cash and cash equlvalents at the end ot the year 5,509 28,643 Components of cash and c•sh equivalents Cash and bank balances 5,509 26,844 5,509 26,844 Page 8
SEVEN HILLS EDUCATIONAL TRUST Notes to the Accounts for the year ended 31 October 2022 l Accounting policies Basis of prèparation The financial statements have been prepared in accordance wrth Accounting and Reporting by Charitles.. 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 IFRS 1021 leffective I January 20151 (Charilies SORP IFRS 10211. the Financial Reporting Standard applicable in the UX and Republic of Ireland IFRS 1021 and the Companies Act 2CKfi. Change in basis of accountlng or to previous accounts There has been no change to the accounting polkie5 Ivaluation rules and method of accounting) slnce last year and no changes have been made to accounts for previou5 years. Fund accountlng Unrestrlcted fvnds These are available for use at the discretlon of the trL4Stees In furtherance of the general objects of the chartty. These are unrestrfcted funds eamiarked by the trustees for partlcular purposes. These are unrestricted funds which include a revaluation re5eNe representinB the restatemenl of investment assets at thelr market values. These are available for use subject to restrlctlons Imposed by the donor or through terms of an appeal. Designated fund5 Revaluation funds Restricted funds Income Recognition of Income Income is Included In the Statement of Flnancial Activities ISOFAI when the charlty becomes entitled to. and vSrtually certaln to receive. the Intome and the amount of the income can be measured with sufficient reliability. Income wlth related Where income has related expenditu the Income and related expenditure Is expendlture reported 8ross in the SOFA. Donations and legacles Voluntary income recelved by way of grnnts, donations and gift5 Is included in the the SOFA when recewable and onty whèn the Charity has uncondltional entitlement lo the income. Tax reclaims on Income from tax reclaims is included tn the SOFA at the same tlme as the donations and gifts 8ift/donatlon to which it relates. Donated services These are only Included In Income Iwrth an equivalent amount in expenditurel and facilities where the benefr( to the Charity is reasonably quantlfiable, measurable and material. Volunteer help The value of ary volunteer help recelved Is not included in the accounts. Investment income This 15 included in the accounts when receivable. Gainslllossesl on Thi5 Includes any gain or loss sU1ng from revalulng investments to market value revaluation of red at the end of the year. assets Gainsiifossesl on investment asset5 This includes any gain or loss on the sale of investments. Page 9
SEVEN HILLS EDUCATIONAL TRusr Notes to the Accounts Expenditu Recognition of expenditure Expendtture is recognised on an accruals basis. Expenditure include5 any VAT which cannot be fulty recovered. and is reported as part of the expenditure to which it relates. Expenditure on raising funds These comprise the costs assoclated with attracting voluntary income, fundraisin8 tradin8 Costs and investment management costs. Expenditure on These comprise the costs incurred by the Chartty in the dellvery of its activities and charitable activities service5 in the furtherance of its objects, including the makin8 of grants and governance costs. All grant expenditure is accounted for on an actual pald basls plus an accrual for grants that have been approved by the trustees at the end of the year but t)ot yet paid. These Include those costs associated with meeting the constitutional and statutory requlrements of the Charity, including any auditllndependent examination fees, costs linked to the strategic management of the Charity, together wlth a share of other administration costs. These are support Costs not allocated to a partitular activity. Grant5 payable Governan costs Other expenditure Taxation The charlty Is exempt from corporation tax on rts charltsble actfvltle5, Tan8lble fixed assets and depreclatlon Depreciation Is provided at the following annual rates in order to wrlte off each asset over its estlmated useful life.. Motor vehbcle FixtureS,ftIftg and equipment 25% Reducln8 balance 33.33% Reduan8 balance Freehold Investment property Investment propertie5 are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All galns or losses are taken to the Statement of Flnanclal Activities as they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amourFt the charity would have been willin8 to pay for the Items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount tlue after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand. demand deposits with banks and other short-term highly liquid investments with original maturtties of three months or less and bank overdrafts. In the statement of financial posttion. bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows. tash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an inte8ral part of the company's cash management. Page 10
SEVEN HILLS EDUCATIONAL TRusr Notes to the Accounts Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obltgation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimatèd reliab. Credrtors and provisions are normally recognised at iheir settlement amount after allowing for any trade dÉscounts due. Research and development Expenditure on research and development is Wfrtten off in the year in whlch it Is incurred. Forel8n currencies Monetary aet5 and liabilities denomlnated in ojrrencles other than the functlonal currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transartion5 In currencles other than the fijnttional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken Into ac¢i)unt in arrfving at net 5ncome/expendSture. Leased assets Where the charily enters into a lease which entaib taking sub51antially all the risks and rewards of ownership of an osset, the lease 15 treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classifled as operatin8 leases. Assets held under flnance leases are initially recognised as assets of the charity at their fair value at the inceptlon of the lease or, If lower, at the present value of the mlnimum lease payments. The correspondSn81Sabllity to the lessor Is Included In the balance sheet date as a finance lease obllgation. Lease payments are apportioned between finan¢e expenses and reduction of the lease obllgatlon so as to achleve a constant rate of interest on the remainln8 balante of the liabillty. Finance expenses are recognlsed immediately. unless they are directly attributable to quallfylng assets, In which case they a capitalised in accordance wlth the charity's pollcy on borrowing costs. Assets held under finan leases are depreciated in the same way as owned assets. Operatin8 lease payments are recogntsed as an expense on a straight-line basis overthe lease term. In the event that lease incentives are receNed to enter into operatlng leases, such Incentlves a recognlsed as a Ilabilrty. The 888regate beneftl of incentlves Is recognlsed as a redutllon of rental expense on a straight-line basis. Pension costs The charity operates a deflned contrlbution plan for its employees. A defined contributlon plan Is a pension plan under which the company pay5 fixed contributions into a separate entity. Once the conlrlbutions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they tall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held Separate from the company in independently administered funds. Receipt of donated goods. facilitles and services All donated goods, facilities and Services ceiVed are recognised within incoming resources and expendItU at an estimate of the value to the charrty. Page 11
SEVEN HILLS EDUCATIONAL TRUST Notes to the Accounts 2 Company ststus The company is a private company limited by guarantee and consequently does not have share capital. 3 Statement of Flnanclal Arti¥ities- prior year Unrestricted fi•nds 2021 Restrlcted funds Total funds 2021 2021 Income and endowments from: Donations and legacie5 Charitable activities Other trading activities Other 119,611 122.351 258.235 119,611 122,351 258,235 Totsl S(,201 500,201 Expendlture on: Ralsln8 funds CharStable activities Other 3,550 8.919 3,550 8,919 495,933 495,933 Totsl 508,402 508,402 Net Income 18,2011 17,773 18,2011 8,274 Transfers between funds 19,4991 Net Sncome before other 8alns/llosses) Other 8ains and losses.. Net movement In funds 9,572 19,4991 73 9,572 19,4991 73 Re¢onclliation of fvnds". Total funds brou8ht forward Totsl funds carrled forward 106,366 9,499 115,865 115,938 115,938 4 In¢ome from donatlons and legacles Unrestricted Total 2022 Total 2021 Donation 148,310 148,310 148.310 148,310 119,611 119,611 Page 12
SEVEN HILLS EDUCATIONAL TRUST Notes to the Accounts 5 Income from charitable artivities Unrestrirted Total Total 2022 2021 Fun(Iraisin8 events Job retention Scheme 47,050 47,050 15,437 106,914 122,351 47,050 47,050 6 Income from other tradlng actlvltles Unrestrlcted Total Total 2022 2021 Fees re1v3b1es 267,287 267,287 252,381 5,854 258,235 Summer school fees 267.287 267,287 7 Other Income Unrestil¢ted Total Total 2022 2021 Other Income 75 75 77 77 8 Expendlture on raisln8 funds Unrertricted Total Totèl 2022 2021 Fundrolslng troding costs Fees receivables 29 29 3,550 3,550 29 29 Page 13
SEVEN HILLS EDUCATIONAL TRU Notes to the Accounts g Expenditure on charitsble artivities ilnrestrirted Total Totrl 2021 2022 Expenditure on choritoble t7¢tivities Grant5 made 5,O¢J) 5,400 Governunce costs Insurance 1.248 1,248 1,555 305 Telephone Bank charges and Interest Independent examlner fee 442 442 189 189 159 1,5 ,379 1,500 8,379 1,500 8,919 10 Analysls of grants Grants to IndivSduals Actlvlty or programme Total Total 2022 2021 5,4C(I 5,400 5,000 Artlvlty or programme Total Total 2022 2021 5,400 5,400 Page 14
SEVEN HILLS EDUCATIONAL TRUST Notes to the Accounts 11 Other expenditure Vnre5trfcted Total Total 2022 2021 Catering cost Tuition fees 21,209 4,520 5,024 21.209 34,209 3,191 7,498 4,520 5,024 Fees and subscription Bank loan and overdraft interest payable 1,161 1,161 Employee costs Motor and travel costs Premises costs Amortisation, depreclation. impairment, profivloss on disposal of fixed assets General administratlve costs Legal and professional costs 313,094 12,679 51,867 313,094 12,679 51,867 268,018 2,167 87,650 938 938 1,327 13.280 9,353 433,125 13,280 9,353 433,125 89,581 2,292 495,933 12 Net In£ome/lexpendlturel before trnn5fers 2022 2021 This IS staled after charging.. Depreclation of owned fixed assets 13 Staff Costs 938 1,327 2022 295,918 8,523 1,398 305.839 2021 258,795 7,475 1,748 268,018 Salaries and wages Social security cost5 Penslon tosts No employee received emoluments In excess of £60.LKJ). The average monthly number of full time equivalent employees during the year was as lollows: 2022 Number 20 20 2021 Number 20 Teachlng and administrative 20 Page 15
SEVEN HILLS EDUC4TIONAL TRUST Notes to the Accounts 14 Tangible fixed assets Motor Vehide FtureS.fittl ng and equipment Total C05t or revaluation At l November 2021 At 31 October 2022 Depreclatlon and impalrment At l November 2021 Depreciation charge for the vear At 31 October 2022 Net book values 14,5CKJ 14,5 98,261 98,261 112,761 112,761 12,558 96.902 109,460 453 938 13.043 97,355 110,398 At 31 October 2022 At 31 Ottober 2021 15 Debtors 1,457 1,942 906 1.359 2,363 3,301 2022 2021 Trade debtors Prepayment5 and accrued income 365.555 723 366,278 305,694 3,098 308,792 16 Credltors: amounts falling due withln one year 2022 2021 Other loans Other taxes and soclal securrlv Other creditors Accruals 114,012 34.898 45,148 114,012 38,441 18,095 6,000 176,548 200,058 17 Creditors: amounts falllng due after more than one year 2022 2021 Bank loans and overdrafts 36,963 36,963 46,451 46,451 Page 16
SEVEN HILLS EDUCATIONAL TRU Note5 to the Accounts 18 Movement In funds Incomlng resources {including other November gains/losses 2021 Resources expended At31 October 2022 Atl Restricted funds: Unrestricted funds: General funds 115,938 462,724 1441.5331 137,129 Total funds 19 Analysls ol net a$sets between fvnds 115,938 462,724 1441.5331 137,129 Unrestrlrted fvnds Total Fixed assets Net current assets Creditors due in more than one year and provisions 2,363 171,729 2,363 171,729 136,9631 136,9631 137,129 137,129 20 Reconclliation ol net debt Atl November 2021 At31 October 2022 Cash flows Cash and cash equlvalents 26,844 26,844 121,3351 121,3351 5.509 5,509 Borrowlngs Bank loan5 1114.0121 146.4511 1160.4631 1114,0121 136,9631 1150,9751 9,488 9,488 Net debt 1133.6191 111,8471 1145,4661 Page 17
SEVEN HIL EDUCATIONAL TRU Notes to the Accounts 21 Commitments Operoting leose commitments Annual commitments under non-cancellable operating leases are as follows.. 2022 land and bulldings 2022 2021 Land and buildlngs 2021 Other Other Operating lease5 wlth expiry date- Pension commitments 2022 2021 The pension cost charge to the company amounted to: 1,398 1,748 22 Related party dlsdosures Controlllng party The company is Ilmited by 8uarantee and has no share capital,. thus no sln8le party controls the company. Page 18
SEVEN HILLS EDUCATIONAL TRUST Detailed Statement of Financial Activities for the year ended 31 October 2022 Unrestrirted funds 2022 Total funds 2022 Total fvnds 2021 Income and endowments from: Donations ènd legacles Donation 148,310 148,310 148.310 148,310 119,611 119,611 ChaTStable actlvltie5 Fundraising events lob retentbon Scheme 47,050 47,050 15,437 106,914 122,351 47,050 47,050 Other trading actlvities Fees receivables Summer school fees 267,287 267,287 252,381 5,854 258,235 267.287 267,287 Other Other Income 75 75 77 77 Total Income and endowments 462,724 462,724 500,201 Expendlture on.. Cost5 of other tradln8 actlvltles Fees receivables 29 29 29 29 3.550 3,550 Totsl of expendlture on ralsln8 funds 29 29 3,550 Charitable actlvltles Grants made 5,400 5,400 5,000 Governance c051s Insurance Telephone Bank charges and Interest Independent examiner fee 1,248 442 1,248 442 1,555 305 159 1,500 3,519 189 1.5C¥) 3,379 189 1,5(X) 3,379 Total of empenditure on Charltsble a¢ti¥itie5 8,379 8.379 8,919 Other expenditure Catering cost Tuition fees Fees and subscrlption 21.209 4.520 5,024 21,209 4,520 5,024 34,209 3,191 7,498 Page 19
SEVEN HILLS EDUCATIONAL TRusr Detailed Statement of Financial Artivlties Bank loan and overdraft interest payable 1,161 1,161 31,914 Employee costs Salarieslwa8es Employer's NIC Pension cost5 Staff entertainment Staff training 31,914 44,898 295,918 8,523 1.398 4,015 3,240 313,094 295,918 8.523 1.398 4,015 3,240 313,094 258,795 7,475 1,748 Motor and travel costs Vehicles - Repairs and maintenance Travel and subsistence 268,018 l(M) l(KJ 12,579 12,679 12,579 12,679 2,167 2,167 Premises costs Rent Rates Llght, heat and power Premlses cleanin8 Premises repalrs and maintenance 33,389 19,915 11,969 1,427 12,659 12,253 4,187 12,659 12,253 4,187 22,768 22,768 20,950 51,867 51.867 General adminlstrative costs, includin8 depreciation and amortlsation Depreciatlon of Motor vehlcle Depreciatlon of Flxtures,frttin8 and equSpment Bad debts Bank charges Equipment expensed Information and publications Postage and courie Stationery and printing Sundry expenses 87,650 485 647 453 453 54,913 335 3.258 15,305 11,717 915 1,7 2,659 7.777 17 915 1,790 2,659 7,777 17 122 122 14.218 4,053 90.908 14,218 Legal and professlonal costs Accountancy and bookkeeplng Other legal and professional costs 1,500 6,753 6,753 792 9,353 9,353 2.292 Total of expenditure of other costs Total expendlture Net gains on investments 433,125 433.125 495,933 441,533 441,533 508,402 Page 20
SEVEN HILLS EDUCATIONAL TRUST Oetailed Ststement of Financial Activities Net incomellexpenditurel Transfers between funds 21.191 21,191 18,201 8,274 Net income before other gain5lllossesl Other Gains 21,191 21,191 73 Net movement in fund5 21,191 21,191 73 Reconciliatlon of funds: Total funds brought forward 115.938 115,938 115,865 Totsl funds carried lofward 137,129 137.129 115,938 Pa8e 21