COMPANY NUMBER: 06854334 REGISTERED CHARITY NUMBER: 1129398
EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST (COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL)
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST
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INDEX TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
Page No.
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1-3 Trustees’ Annual Report (including Directors’ Report) 4 Independent Examiner’s Report 5 Statement of Financial Activities (including Income and Expenditure Account)
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6 Balance Sheet
,
- 7-13 Notes to the Financial Statements
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EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST
TRUSTEES’? ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
ce The trustees present their annual report and financial statements for EDP (Educational Development Projects) Trust for the year ended 30 September 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Memorandum and Articles of Association, the Charities Act 2011, 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 published in October 2019.
Objectives and Activities
The objects of the charity are to advance any purposes which are charitable under the laws of England and Wales from time to time and in particular (but without limitation) to advance education and relieve poverty for the public benefit. In shaping the objectives for the year and planning the charity's activities, the trustees referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.
Achievements and Performance
The charity raises the funding for a senior secondary school in Ghana, 50 km west of Accra, and also directs and monitors its operations. The school, which charges no fees, aims to promote social mobility by providing exceptional teaching and offering first-class amenities to promising youngsters from very impoverished backgrounds who would otherwise find it very difficult to complete the last three years of their secondary education.
The student population remains constant at around 520, and it is gradually recovering from the aftermath of the pandemic, although term dates are still not back to normal. There have been a few setbacks with the football pitch, largely dueto extreme weather conditions, but work will resume as soon as the rainy season is over. Our other facilities continue to be very well used, and academic standards are on the rise again.
Winton Educational Development Project Foundation (formerly known as Awutu Winton Senior High School) is a registered NGO in Ghana. Since 2013, it has produced and filed its own accounts in Ghana but it is answerable to the UK charity, which closely supervises its operations through the Board of Trustees in the UK and a small team of employees in Ghana.
Financial Review
Total income and endowment for the year has decreased by 57% and total expenditure for the year has decreased by 53%. At the year end the total unrestricted funds was £67,450 (2020 - £70,306).
Reserves Policy
The present level of funding is adequate to support the continuation of the charity for the medium term and the trustees consider the financial position of the charity to be satisfactory.
Principal Funding Sources
The principal funding source for the charity is currently by way of donations.
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EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST
TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
Structure Governance and Management
Governing Document
EDP (Educational Development Projects) Trust is a charitable company limited by guarantee, incorporated on 20 March 2009. The company is governed by its Memorandum and Articles of Association. It registered as a charity with the Charity Commission on 5 May 2009. In the event of the company being wound up, all members present and 12 months past are required to contribute an amount not exceeding £1.
Recruitment and Appointment of Members
The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members.
Reference and Administration Details
Charity registration number: 1129398 Company registration number: 06854334 Registered andprincipal office: 135 Little Ann Andover Hampshire SP11 7NW
Directors and Trustees
The Board of Trustees constitutes directors of the company for the purpose of company law and trustees for the purpose of charity law, with the exception of Nicholas Robertson and Maxwell John Sayers. The trustees serving during the year and since the year-end were as follows:
David Alexander Lunan Inez Alice Lunan Nicholas Robertson (non-director) Maxwell John Sayers (non-director)
Company secretary:
Inez Alice Lunan
Senior staff member: Peter Donkor (left 30 April 2021)
Independent Examiner:
Barcant Beardon Limited Chartered Accountants 8 Blackstock Mews Islington London N4 2BT
Bankers: HSBC Bank ple 6 Commercial Way Woking Surrey GU21 6EZ
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EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST
TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
ee
Statement of the Trustees’ Responsibilities
The trustees (who, with the exception of Nicholas Robertson and Maxwell John Sayers, are also directors of EDP (Educational Development Projects) Trust for the purposes of company lav) are responsible for preparing the Report of the Trustees and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}.
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company at the balance sheet date and of the incoming resources and application of resources, including income and expenditure of the charitable company for the financial year. In preparing those financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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- Observe the methods and principles in the Charities SORP 2019 (FRS 102);
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statement; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board.
David Lunan Director and Trustee
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INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES
OF EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST
I report to the charity trustees on my examination of the accounts of the company for the year ended 30 September 2021, which are set out on pages 5 to 13.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
[have completed my examination. | confirm that no matter has come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1, accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 33 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
22. dung 2022
BEhuAgRe Pa Shu Fen Chung FCCA ACA BARCANT BEARDON LIMITED Chartered Accountants
8 Blackstock Mews
Islington London N4 2BT
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EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR YEAR ENDED 30 SEPTEMBER 2021
| a | a | a | a | a | a |
|---|---|---|---|---|---|
| Notes | Restricted Funds |
Unrestricted Funds |
Total Funds |
Total Funds |
|
| 2021 | 2020 | ||||
| £. | z | £ | £ | ||
| Income andendowmentsfrom: | |||||
| Donations and legacies Investments |
2 3 |
- - |
137,937 36 |
137,937 36 |
318,487 13 |
| Total income and endowments | ~ | 137,973 | 137,973 | 318,500 | |
| Expenditure on Costsofraising funds Charitable activities |
4 5 |
- - |
- 140,829 |
- 140,829 |
2,625 293,993 |
| Total expenditure | - | 140,829 | 140,829 | 296,618 | |
| Netincome/(expenditure) | - | (2,856) | (2,856) | 21,882 | |
| Transfers between funds | - | - | . | - | |
| Netmovement infundsfor theyear | - | (2,856) | (2,856) | 21,882 | |
| Reconciliation offunds | |||||
| Total funds brought forward | - | 70,306 | 70,306 | 48,424 | |
| Totalfundscarriedforward | - | 67,450 | 67,450 | 70,306 |
The statement of financial activities includes all gains and losses recognised during the year,
All income and expenditure derive from continuing activities.
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EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST
BALANCE SHEET
AS AT 30 SEPTEMBER 2021
| Notes | 2021 | 2020 | ||
|---|---|---|---|---|
| £ | £ | |||
| CurrentAssets | ||||
| Debtors | 12 | 22,246 | 20,329 | |
| Cash atbank and in | hand | 47,135 | 52,014 | |
| 69,381 | 72,343 | |||
| Creditors: amounts | falling due within one year | 13 | (1,931) | (2,037) |
| Net CurrentAssets | 67,450 | 70,306 | ||
| NetAssets | 67,450 | 70,306 | ||
| Funds | ||||
| Unrestricted funds | - General funds | 14 | 67,450 | 70,306 |
| Totalfunds | 67,450 | 70,306 |
For the year ending 30 September 2021 the company was entitled to exemption from audit under section 477 Companies Act 2006 relating to small companies.
Directors’ responsibilities:
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e The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
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e The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements are prepared in accordance with the special provisions of Part 15 of the[Companies][ Act][ 2006] relating to small companies.
Signed on behalf of the board of trustees
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Law NX
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Inez Alice Lunan Director and Trustee
The notes on page 7 - 13 form part of these financial statements.
Company Registration No. 06854334
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EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
NN
1.0 Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
1.1 General information and basis ofpreparation
EDP (Educational Development Projects) Trust is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office is 135 Little Ann, Andover, Hampshire SP11 7NW
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice.
The financial statements are prepared on a going concern basis under the historic cost convention. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
- 1.2. Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds are subject to restrictions on their expenditure imposed by the donor.
1.3 Income recognition
All incoming resources are included in the Statement ofFinancial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
Interest income is recognised when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
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NOTES TO THE FINANCIAL STATEMENTS (Continued)
EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST
FOR THE YEAR ENDED 30 SEPTEMBER 2021
1.4 Expenditure recognition
Expenditure is recognised on an accrual basis where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following headings:
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Costs of raising funds comprise the costs incurred on activities that raise funds.
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Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
15 Support costs allocation
Support costs are those functions that assist the work of the charity but do not directly represent charitable activities and include premises overheads, office, finance and governance costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
1.6 Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
1.7 Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation 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 estimated reliably. Creditors and provisions are normally recognised at their settlement amount.
1.8 Provisions
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
1.9 Foreign currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.
Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.
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EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
| 2.0 | IncomefromDonations andLegacies | 2021 | 2020 | |||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Gifts | 115,831 | 257,045 | ||||
| GiftAid tax reclaims | 21,753 | 61,442 | ||||
| Sundry income | 353 | . | ||||
| 137,937 | 318,487 | |||||
| 2.1 | Incomefrom donation and legacies was£137,937 | (2020 -£318,487)ofwhich £nil (2020 -£nil)was | was attributable | |||
| to restricted and £137,937 (2020 - £318,487) was | attributable to unrestricted funds. | |||||
| 3.0 | IncomefromInvestments | Unrestricted | Unrestricted | |||
| 2021 | 2020 | |||||
| £ | £ | |||||
| Interest— other | 36 | 13 | ||||
| 4.0 | Expenditure onRaisingFunds | Unrestricted | Unrestricted | |||
| 2021 | 2020 | |||||
| £ | £ | |||||
| Other fundraising costs | : | . | 2,625 | |||
| 5.0 | AnalysisofExpenditure on CharitableActivities | |||||
| Charitable Activities 202] | Activities undertaken |
Support costs |
Governance costs |
Total | ||
| directly | ||||||
| 2021 | 2021 | 2021 | 2021 | |||
| £ | £ | £ | £ | |||
| Donations to Winton Education Development | ||||||
| ProjectFoundation | 126,548 | - | - | 126,548 | ||
| School supplies andmaintenance | 572 | - | - | 572 | ||
| Staff costs | 7,700 | - | - | 7,700 | ||
| Travel costs | 4,010 | - | - | 4,010 | ||
| Support costs | - | 259 | - | 259 | ||
| Governance | . | ~ | 1,740 | 1,740 | ||
| 138,830 | 259 | 1,740 | 140,829 |
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EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|5.1|Charitable Activities|2020|Activities|Support|Governance|Total|
|undertaken|costs|costs|
|directly|
|2020|2020|2020|2020|
|£|£|£|£|
|Donations|to|Winton|Education|Development|
|Project|Foundation|269,000|-|-|269,000|
|School|supplies|and|maintenance|2,056|-|-|2,056|
|Staff costs|15,011|-|-|15,011|
|Travel|costs|5,469|-|-|5,469|
|Support|costs|-|417|-|417|
|Governance|-|-|2,040|2,040|
|291,536|417|2,040|293,993|
|5.2|Of the the|£140,829|expenditure|in|2021|(2020|-|£293,993),|£nil|(2020|-|£nil)|was|attributable|to|restricted|
|and|£140,829|(2020|- £293,993) £293,993)|was|attributable|to|unrestricted|funds.|
|6.0|Analysis ofSupport and Governance|Costs|
|Support|Governance|Total|Total|
|costs|costs|2021|2020|
|£|£|£|£|
|Office|160|-|160|329|
|Finance|and|professional|99|-|99|88|
|Accountancy|-|1,740|1,740|2,040|
|259|1,740|1,999|2,457|
|7.0|Net Income/Expenditure) for|the|Year|2021|2020|
|£|£|
|This|is stated after|charging/(crediting):|
|Accountancy|and|other|fees|870|1,170|
|Independent examination|870|870|
|8.0|Trustee|Remuneration|and Expenses|
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- 5.2 Of the the £140,829 expenditure in 2021 (2020 - £293,993), £nil (2020 - £nil) was attributable to restricted funds and £140,829 (2020 - £293,993) £293,993) was attributable to unrestricted funds.
No trustees received any remuneration during the year (2020 — none). There were reimbursements by the charity in the sum of £450 (2020 - £431) to one member (2020 — one) of the Board of Trustees for payments made on behalf of the charity.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2020 — none).
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EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST
NOTES TO THE FINANCIAL STATEMENTS
(Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
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|---|---|---|---|
|se ——|
|9.0|Analysis ofStaff Costs|2021|2020|
|£|£|
|.|7,700|14,916|
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Wages and salaries
9.1 No employee earned more than £60,000 per annum (2020 - none).
9.2 The total amount of employee benefits received by key management personnel is £7,700 (2020 — £13,820). The company considers its key management personnel comprise its only staff member.
10.0 StaffNumbers
The average monthly head count was | staff (2020 — 2 staff) and the average monthly number of full-time equivalent employees (including casual and part time staff} during the year was as follows:
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2021|2020|
|No.|No.|
|0.1|0.3|
|11.0|Taxation|
|As|a|charity,|EDP|(Educational|Development|Projects)|Trust|is|exempt|from|tax|on|income|and|gains|falling|
|within|section|505|of the the|Taxes|Act|1988|or|s256|of the the|Taxation|of Chargeable Chargeable|Gains|Act|1992|to|the|extent|
|that|these|are applied applied|to|its|charitable|objects.|No tax tax|charges|have|arisen|in the the|Charity.|
|12.0|Debtors|2021|2020|
|£|E|
|Other|debtors|22,246|20,329|
|13.0|Creditors: Amounts|Falling Due|Within|One|Year|2021|2020|
|£|£|
|Accruals|1,740|1,740|
|Taxation|and|social|security|191|297|
|1,931|2,037|
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11.0 Taxation
As a charity, EDP (Educational Development Projects) Trust is exempt from tax on income and gains falling within section 505 of the the Taxes Act 1988 or s256 of the the Taxation of Chargeable Chargeable Gains Act 1992 to the extent that these are applied applied to its charitable objects. No tax tax charges have arisen in the the Charity.
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EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
eSSS
14.0 Analysis of Charitable Funds
| Unrestricted | Funds— Current Year | |||||||
|---|---|---|---|---|---|---|---|---|
| Balance 1 Oct 2020 |
Incoming Resources |
Outgoing Resources |
Transfers Balance 30 Sep 2021 |
|||||
| = | £ | £ | £ | £ | ||||
| General funds | 70,306 | 137,973 | (140,829) | . | 67,450 | |||
| UnrestrictedFunds— Previous Year | ||||||||
| Balance 1 Oct2019 |
Incoming Resources |
Outgoing Resources |
Transfers Balance 30 Sep2020 |
|||||
| £ | £ | £ | £ | £ | ||||
| General funds | 48,424 | 318,500 | (296,618) | - | 70,306 | |||
| Name ofunrestrictedfund | Description, nature andpurposes | ofthefund | ||||||
| General funds | The “free reserves” after allowing | for any | designated funds. | |||||
| 15.0 | Analysis ofNetAssetsbetween Funds—Current Year | Restricted | Unrestricted | Total | ||||
| Funds | Funds | |||||||
| 2021 | 2021 | 2021 | ||||||
| £ | £ | |||||||
| Cash in bank and in hand | - | 47,135 | 47,135 | |||||
| Other netcurrent assets/(liabilities) | - | 20,315 | 20,315 | |||||
| - | 67,450 | 67,450 | ||||||
| AnalysisofNetAssets betweenFunds—Previous Year | Restricted | Unrestricted | Total | |||||
| Funds | Funds | |||||||
| 2020 | 2020 | 2020 | ||||||
| £ | £ | £ | ||||||
| Cash in bank and inhand | - | 52,014 | 52,014 | |||||
| Other net current assets/(liabilities) | - | 18,292 | 18,292 | |||||
| - | 70,306 | 70,306 |
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EDP (EDUCATIONAL DEVELOPMENT PROJECTS) TRUST
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
a
16.0 Related Party Transactions
As part of the charity’s activity, funds were remitted to Winton Educational Development Project Foundation and this expenditure is incorporated in the Statement of Financial Activities.
One trustee of the charity is also a member of the Executive Council for Winton Educational Development Project Foundation.
Aside from trustee remuneration and expenses disclosed in note 8, four members (2020 - two members) of the Board of Trustees and their close families donated £80,350 (2020 - £172,000) to the charity during the year.
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