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2020-08-31-accounts

REGISTERED COMPANY NUMBER: 07089312 (England and Wales) REGISTERED CHARITY NUMBER: 1136378

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

FOR

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

Venitt and Greaves Statutory Auditors Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

Page
Report of the Trustees 1 to 3
Report of the Independent Auditors 4 to 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Cash Flow Statement 9
Notes to the Cash Flow Statement 10
Notes to the Financial Statements 11 to 16

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of 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 Objectives and aims

The principal objectives of the charity are:

the advancement of the Orthodox Jewish faith

the advancement of Orthodox Jewish religious education and education generally

the relief of poverty, old age, disability, and illness, both mental and phyiscal, and

other such charitable purposes as the association may, from time to time, authorise

Significant activities

Talmud Torah Torah Veyirah D'Satmar London is an independent boys school for boys aged 2 to 11. The curriculum covers all the required areas of learning in the early years, and English, mathematics, science, art and design, humanities, design and technology, and physical education for pupils of compulsory school age.

The school has an Orthodox Jewish ethos.

Kodesh is taught in the mornings in Yiddish; chol is taught in the afternoons in English. The school is well resourced and staffed.

Pupils' progress and attainment is identified using an evidence-based assessment system and tests. These are reviewed on a termly basis by teachers to plan lessons and any necessary interventions.

There is a suitably planned personal, social, health and economic (PSHE) education programme. It includes many opportunities for pupils to learn about British values, and to prepare them to respect others, paying regard to the protected characteristics.

Suitable arrangements are in place to develop and support staff, and to monitor the quality of education.

During the year the school started to serve daily breakfast to year 3 and upwards and dinners for the whole school.

It is with deep regret that we report the passing of Mr J Ostreicher, a trustee of this charity, who was very involved in the running of the day to day affairs of the charity.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity's Commission's general guidance on public benefit when reviewing the charity's aims and objectives and planning future activities.

STRATEGIC REPORT

Achievement and performance

Charitable activities

During the financial period under review Talmud Torah Torah Veyirah D'Satmar London Ltd conducted religious, cultural and educational programmes for members of the Orthodox Jewish community in the London Borough of Hackney.

Pupils study Jewish religious studies (Kodesh) taught in Yiddish and a secular curriculum (Chol) taught in English. There are further classes also taught in Yiddish.

The charity received donations and grants totalling £1,525,553 (2019: £1,002,992).

Page 1

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020

STRATEGIC REPORT Financial review

Financial position

The trustees are satisfied with the results and activities of the charity for the financial year.

Principal funding sources

Talmud Torah Torah Veyirah D'satmar London Limited is currently financed by private donations and grants from Haringey Council, Irwin Mitchel, and the Hackney Learning Trust.

Reserves policy

The reserves policy is to ensure that there is a sufficient stream of income to meet the ongoing calls made on the charity including the possibility of providing capital assets for the needs of charitable institutions.

Going concern

The trustees are confident that the charity will continue to operate for foreseeable future.

Future plans

The trustees do no anticipate any significant changes in the forthcoming year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act, 2006.

Recruitment and appointment of new trustees

It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07089312 (England and Wales)

Registered Charity number

1136378

Registered office

180 Bethune Road London N16 5DS

Trustees

S Berkowitz Director (appointed 11.5.20) M Freund Company Director A Langberg Grocer J Ostreicher Co Director (deceased 9.5.20)

Page 2

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020

REFERENCE AND ADMINISTRATIVE DETAILS

Auditors

Venitt and Greaves Statutory Auditors Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED for the purposes of company law) are responsible for preparing the Report of the Trustees and the 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 and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

In so far as the trustees are aware:

AUDITORS

The auditors, Venitt and Greaves, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 30 June 2021 and signed on the board's behalf by:

M Freund - Trustee

Page 3

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

Opinion

We have audited the financial statements of TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED (the 'charitable company') for the year ended 31 August 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis of 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes 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 charitable company'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.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors 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 a Report of the Independent Auditors 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.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

for and on behalf of Venitt and Greaves Statutory Auditors Chartered Accountants Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 115 Craven Park Road South Tottenham London N15 6BL

30 June 2021

Page 5

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Investment income
3
Total
EXPENDITURE ON
Charitable activities
4
Charitable
Other
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
1,096,381
5,968
1,102,349
928,970
69,717
998,687
103,662
(44,010)
59,652		 Restricted
funds
£
429,172
-
429,172
429,172
-
429,172
-
-
-		 31.8.20
Total
funds
£
1,525,553
5,968
1,531,521
1,358,142
69,717
1,427,859
103,662
(44,010)
59,652		 31.8.19
Total
funds
£
1,002,992
8
1,003,000
938,490
123,887
1,062,377
(59,377)
15,367
(44,010)

The notes form part of these financial statements

Page 6

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

BALANCE SHEET 31 AUGUST 2020

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
9
87,657
CURRENT ASSETS
Debtors
10
30,872
Cash at bank and in hand
68,460
99,332
CREDITORS
Amounts falling due within one year
11
(127,337)
NET CURRENT ASSETS/(LIABILITIES)
(28,005)
TOTAL ASSETS LESS CURRENT
LIABILITIES
59,652
NET ASSETS/(LIABILITIES)
59,652
FUNDS
12
Unrestricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
-
-
-
-		 31.8.20
Total
funds
£
87,657
30,872
68,460
99,332
(127,337)
(28,005)
59,652
59,652
59,652
59,652		 31.8.19
Total
funds
£
21,993
-
40,319
40,319
(106,322)
(66,003)
(44,010)
(44,010)
(44,010)
(44,010)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

The financial statements were approved by the Board of Trustees and authorised for issue on 30 June 2021 and were signed on its behalf by:

M Freund - Trustee

The notes form part of these financial statements

continued...

Page 7

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

BALANCE SHEET - continued 31 AUGUST 2020

S Berkowitz - Trustee

The notes form part of these financial statements

Page 8

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31.8.20
£
109,239
109,239
(81,116)
18
(81,098)
28,141
40,319
68,460		 31.8.19
£
49,595
49,595
(25,874)
8
(25,866)
23,729
16,590
40,319

The notes form part of these financial statements

Page 9

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Increase in debtors
Increase in creditors
Net cash provided by operations		 31.8.20
£
103,662
15,452
(18)
(30,872)
21,015
109,239		 31.8.19
£
(59,377)
3,881
(8)
-
105,099
49,595

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.19 Cash flow At 31.8.20
£ £ £
Net cash
Cash at bank and in hand 40,319 28,141 68,460
40,319 28,141 68,460
Total 40,319 28,141 68,460

The notes form part of these financial statements

Page 10

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs

Governance costs are associated with the governance arrangements of the charity and relate to the general running of the charity. These costs include audit, legal advice for Trustees and costs associated with meeting constitutional and statutory requirements such as the cost of Trustee meetings and the preparation of the statutory accounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - 15% on reducing balance Plant and machinery - 15% on reducing balance Fixtures and fittings - 15% on reducing balance Motor vehicles - 15% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 11

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020

2.
DONATIONS AND LEGACIES
Donations
Grants
Grants received, included in the above, are as follows:
Other grants
3.
INVESTMENT INCOME
Rents received
Deposit account interest
4.
CHARITABLE ACTIVITIES COSTS
Charitable
5.
SUPPORT COSTS
Finance
£
Other resources expended
2,078
6.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Depreciation - owned assets		 Other
£
46,187		 31.8.20
£
1,096,381
429,172
1,525,553
31.8.20
£
429,172
31.8.20
£
5,950
18
5,968
Governance
costs
£
6,000
31.8.20
£
6,000
15,452		 31.8.19
£
783,291
219,701		 31.8.19
£
783,291
219,701		 31.8.19
£
783,291
219,701
1,002,992
31.8.19
£
219,701
31.8.19
£
-
8
8
Direct
Costs
£
1,358,142		 31.8.19
£
219,701
Totals
£
54,265
31.8.19
£
6,000
3,881		 Totals
£
54,265

continued...

Page 12

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.

8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL
INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
Total
EXPENDITURE ON
Charitable activities
Charitable
Other
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 ACTIVITIES
Unrestricted
funds
£
783,291
8
783,299
718,789
123,887
842,676
(59,377)
15,367
(44,010)		 Restricted
funds
£
219,701
-
219,701
219,701
-
219,701
-
-
-		 Total
funds
£
1,002,992
8
1,003,000
938,490
123,887
1,062,377
(59,377)
15,367
(44,010)

continued...

Page 13

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020

9. TANGIBLE FIXED ASSETS

Improvements
Fixtures
to
Plant and
and
property
machinery
fittings
£
£
£
COST
At 1 September 2019
-
-
14,634
Additions
13,506
20,688
46,922
At 31 August 2020
13,506
20,688
61,556
DEPRECIATION
At 1 September 2019
-
-
2,195
Charge for year
2,026
3,103
8,890
At 31 August 2020
2,026
3,103
11,085
NET BOOK VALUE
At 31 August 2020
11,480
17,585
50,471
At 31 August 2019
-
-
12,439
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Pensions
Accrued expenses
12.
MOVEMENT IN FUNDS
At 1.9.19
£
Unrestricted funds
General fund
(44,010)
TOTAL FUNDS
(44,010)		 Motor
vehicles
£
11,240
-
11,240
1,686
1,433
3,119
8,121
9,554
31.8.20
£
30,872
31.8.20
£
99,029
1,940
14,181
187
12,000
127,337
Net
movement
in funds
£
103,662
103,662		 Totals
£
25,874
81,116
106,990
3,881
15,452
19,333
87,657
21,993
31.8.19
£
-
31.8.19
£
11,489
794
59,011
42
34,986		 Totals
£
25,874
81,116
106,322
At
31.8.20
£
59,652
59,652

continued...

Page 14

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020

12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
1,102,349
Restricted funds
Special educational needs
306,854
Coronavirus job retention scheme
122,318
429,172
TOTAL FUNDS
1,531,521
Comparatives for movement in funds
At 1.9.18
£
Unrestricted funds
General fund
15,367
TOTAL FUNDS
15,367
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
783,299
Restricted funds
Special educational needs
219,701
TOTAL FUNDS
1,003,000		 Resources
expended
£
(998,687)
(306,854)
(122,318)
(429,172)
(1,427,859)
Net
movement
in funds
£
(59,377)
(59,377)
Resources
expended
£
(842,676)
(219,701)
(1,062,377)		 Movement
in funds
£
103,662
-
-
-
103,662
At
31.8.19
£
(44,010)
(44,010)
Movement
in funds
£
(59,377)
-
(59,377)

Page 15

continued...

TALMUD TORAH TORAH VEYIRAH D'SATMAR LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.9.18
£
15,367
15,367		 Net
movement
in funds
£
44,285
44,285		 At
31.8.20
£
59,652
59,652

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Special educational needs
Coronavirus job retention scheme
TOTAL FUNDS		 Incoming
resources
£
1,885,648
526,555
122,318
648,873
2,534,521		 Resources
expended
£
(1,841,363)
(526,555)
(122,318)
(648,873)
(2,490,236)		 Movement
in funds
£
44,285
-
-
-
44,285

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2020.

Page 16