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2022-12-31-accounts

REGISTERED COMPANY NUMBER: 07157868 (England and Wales) REGISTERED CHARITY NUMBER: 1136616

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

THE PLUTO EDUCATIONAL TRUST

Centora Ltd Jury Farm, Ripley Lane West Horsley KT24 6JT

THE PLUTO EDUCATIONAL TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Page
Report of the Trustees 3
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Cash Flow Statement 9
Notes to the Cash Flow Statement 10
Notes to the Financial Statements 11 to 17
Detailed Statement of Financial Activities 18 to 19

THE PLUTO EDUCATIONAL TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

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 December 2022. 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).

REPORT 2022

In 2022 The Pluto Educational Trust (PET) decided it would bring together its staff, project leaders, Board of Trustees and Advisors for the first time in order to evaluate its recent evolution since the 2018-2022 Business Plan was developed by Trustees, and to discuss strategic choices for the charity as host, advisor, incubator and supporter of initiatives to promote its mission. It was decided that this valuable reflective and strategic session will be repeated annually.

2022 saw substantial progress for its newer projects: The Ameena Gafoor Institute for Indentureship and its Legacies and the start-up of The Decolonial Centre.

The Ameena Gafoor Institute developed its online bibliography of indentureship and began a partnership with the Indo-Caribbean Cultural Centre, co-running regular educational webinars. 2022 also saw the release of the film Walter Rodney: What They Don’t Want You to Know , which was co-produced by the Institute and premiered at the BFI (British Film Institute).

The Decolonial Centre, aiming to launch publicly in 2023, is a digital platform and educational resource aimed at increasing knowledge, understanding and debate around the history and contemporary practice of colonialism, anticolonialism, and decoloniality.

There was also significant step change for PET’s related companies, Pluto Press and Pluto Journals. Pluto Press opened its first operations in the USA to increase its audience and extend its reach in North America. Pluto Journals, launched in 2009, as an independent and international journal publisher in the field of the social sciences, has continued to lead the way in Diamond Open Access and has received much acclaim for this innovative approach. It continues to publish on JSTOR (digital library) and in 2022 also moved on to the Science Open Platform. Since moving to Open Access in 2021 readership of the 20 journals has seen a sixfold growth.

Preparation was made to strengthen the Board and to hire the Trust’s first Executive Director to bolster the Trust as an organisation and to take the work of the PET grouping forward from 2023.

Page 3

THE PLUTO EDUCATIONAL TRUST

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2022 - continued

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is governed by a Memorandum and Articles of Association and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

07157868 (England and Wales)

Registered Charity number 1136616 Registered office 72 Priory Gardens LONDON London N6 5QS Trustees Ms F Dove Executive Director I Marshall Chartered Accountant P M Tiffen Consultant Dr R M Van Zwanenberg Publisher Prof J N Muthuri Academic (appointed 14.2.22) …Continued Independent Examiner K D N De Silva Centora Ltd Jury Farm, Ripley Lane West Horsley SIGNED SECURELY KT24 6JT 25/09/2023 at 4:21:49 PM UTC

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

SIGNED SECURELY 25/09/2023 at 4:21:49 PM UTC

..............................................................................

P M Tiffen - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PLUTO EDUCATIONAL TRUST

Independent examiner's report to the trustees of THE PLUTO EDUCATIONAL TRUST ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity's 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 charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out 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

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  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

  3. 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

  4. 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.

SIGNED SECURELY 27/09/2023 at 5:41:55 PM UTC

K D N De Silva

Centora Ltd Jury Farm, Ripley Lane West Horsley SIGNED SECURELY KT24 6JT 27/09/2023 at 5:41:55 PM UTC Date: .............................................

Page 5

THE PLUTO EDUCATIONAL TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Investment income
3
Total
EXPENDITURE ON
Raising funds
4
Charitable activities
Charitable
Other
Total
Net gains/(losses) on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
637,337
13,594
650,931
76,604
215,515
17,092
309,211
(100,562)
241,158
1,106,628
1,347,786		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-		 31.12.22
Total
funds
£
637,337
13,594
650,931
76,604
215,515
17,092
309,211
(100,562)
241,158
1,106,628
1,347,786		 31.12.21
Total
funds
£
152,270
14,395
166,665
1,626
119,983
24,686
146,295
49,797
70,167
1,036,461
1,106,628

Page 6

THE PLUTO EDUCATIONAL TRUST

BALANCE SHEET

31 DECEMBER 2022

Notes
FIXED ASSETS
Intangible assets
9
Tangible assets
10
Investments
11
CURRENT ASSETS
Debtors
12
Cash at bank
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
14
Investment in related companies
Reserves in tangible assets
Reserves to cover contractual terms
Operational reserves
15
TOTAL FUNDS		 Unrestricted
fund
£
-
353,287
1,090,181
1,443,468
97,367
153,964
251,331
(347,013)
(95,682)
1,347,786
1,347,786
500,001
353,287
75,905
418,593
1,347,786		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-		 31.12.22
Total
funds
£
-
353,287
1,090,181
1,443,468
97,367
153,964
251,331
(347,013)
(95,682)
1,347,786
1,347,786
500,001
353,287
75,905
418,593
1,347,786		 31.12.21
Total
funds
£
600
1,060
1,335,240
1,336,900
67,839
180,336
248,175
(478,447)
(230,272)
1,106,628
1,106,628
500,001
168,327
61,320
376,980
1,106,628

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

In addition, the balance sheet shows unrestricted operational reserves of £418,593 as of the current year-end. It is a requirement for every charity Board to assess the appropriate level of reserves. The trustees have determined that this amount is appropriate to meet the potential risks faced by the charity.

…continued

Page 7

THE PLUTO EDUCATIONAL TRUST

BALANCE SHEET

31 DECEMBER 2022 - continued

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the SIGNED SECURELY small companies regime. 25/09/2023 at 4:21:49 PM UTC

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

SIGNED SECURELY 25/09/2023 at 4:21:49 PM UTC .............................................

P M Tiffen - Trustee

Page 8

THE PLUTO EDUCATIONAL TRUST

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2022

31.12.22 31.12.21
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 175,537 (83,097)
Net cash provided by/(used in) operating activities 175,537 (83,097)
Cash flows from investing activities
Purchase of tangible fixed assets (360,000) (450)
Purchase of fixed asset investments 245,059 (155,424)
Sale of fixed asset investments (100,562) 49,797
Dividends received 13,594 14,395
Net cash used in investing activities (201,909) (91,682)
Change in cash and cash equivalents in the
reporting period (26,372) (174,779)
Cash and cash equivalents at the beginning of
the reporting period 180,336 355,115
Cash and cash equivalents at the end of the
reporting period 153,964 180,336

Page 9

THE PLUTO EDUCATIONAL TRUST

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
31.12.22 31.12.21
£ £
Net income for the reporting period (as per the Statement of Financial Activities) 241,158 70,167
Adjustments for:
Depreciation charges 8,373 1,575
Losses/(gain) on investments 100,562 (49,797)
Dividends received (13,594) (14,395)
Increase in debtors (29,528) (21,129)
Decrease in creditors (131,434) (69,518)
Net cash provided by/(used in) operations 175,537 (83,097)

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.22 Cash flow At 31.12.22
£ £ £
Net cash
Cash at bank 180,336 (26,372) 153,964
180,336 (26,372) 153,964
Total 180,336 (26,372) 153,964

The notes form part of these financial statements

Page 10

THE PLUTO EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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, with the exception of investments which are included at market value.

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.

Tangible fixed assets

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

Freehold property - 2% on cost
Fixtures and fittings - 33% on cost

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.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

31.12.22 31.12.21
£ £
Donations 5,773 -
Gift aid 630,766 152,270
Donated services and facilities 798 -
637,337 152,270

The notes form part of these financial statements

Page 11

THE PLUTO EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

3. INVESTMENT INCOME

INVESTMENT INCOME
31.12.22 31.12.21
£ £
Other fixed asset invest - FII 13,594 14,395

4. ANALYSIS OF SUPPORT COSTS

Current year
Support costs
Fund raising
costs
Employee costs
£
Staff wages
11,879
Salaries on charitable projects
-
Other costs
Other charitable
-

Property refurbishment
40,631
Other human resources
4,963
Other administrative
19,132
76,604
 Activities
Charitable
costs
Administration
costs
£
£
-
-
106,601
-
108,914
-
-
-
-
-
-
17,092
215,515
17,092		 Totals
£
11,879
106,601
108,914
40,631
4,963
36,224
309,212
Prior Year
Support costs
Fund
Employee costs
Staff wages
Salaries on charitable projects
Other costs
Other charitable
Property refurbishment
Other human resources
Other administrative		 raising
costs
£
-
-
-
-
1,376
250
1,626		 Activities
Charitable
costs
Administration
costs
£
£
-
10,123
95,472
-
24,511
-
-
-
-
1,612
-
12,951
119,983
14,563		 Totals
£
10,123
95,472
24,511
-
2,988
13,201
146,296

5. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.12.22 31.12.21
£ £
Depreciation - owned assets 7,773 450
Computer software amortisation 600 1,125

The notes form part of these financial statements

Page 12

THE PLUTO EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

7. STAFF COSTS

STAFF COSTS
31.12.22 31.12.21
£ £
Wages and salaries 104,306 95,515
Social security costs 10,072 6,375
Other pension costs 4,102 3,705
118,480 105,595
The average monthly number of employees during the year was as follows:
31.12.22 31.12.21
Employees 3 3

The emoluments of one member of staff, including benefits in kind, are within the range of £70,000 to £79,999 (2021 – one in the range £70,000 to £79,999), not including retirement benefits which are accruing under a defined benefit scheme.

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable
Other
Total
Net gains on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
152,270
14,395
166,665
1,626
119,983
24,686
146,295
49,797
70,167
1,036,461
1,106,628		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-		 Total
funds
£
152,270
14,395
166,665
1,626
119,983
24,686
146,295
49,797
70,167
1,036,461
1,106,628

The notes form part of these financial statements

Page 13

THE PLUTO EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

9. INTANGIBLE FIXED ASSETS

COST
At 1 January 2022 and 31 December 2022
AMORTISATION
At 1 January 2022
Charge for year
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021
TANGIBLE FIXED ASSETS
COST
At 1 January 2022
Additions
At 31 December 2022
DEPRECIATION
At 1 January 2022
Charge for year
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021		 Freehold
property
£
-
360,000
360,000
-
7,200
7,200
352,800
-		 Fixtures
and
fittings
£
2,033
-
2,033
973
573
1,546
487
1,060		 Computer
software
£
2,700
2,100
600
2,700
-
600
Totals
£
2,033
360,000
362,033
973
7,773
8,746
353,287
1,060

10. TANGIBLE FIXED ASSETS

11. FIXED ASSET INVESTMENTS

MARKET VALUE
At 1 January 2022
Additions
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021		 Shares in
group
undertakings
£
500,001
-
500,001
500,001
500,001		 Listed
investments
£
835,239
(245,059)
590,180
590,180
835,239		 Totals
£
1,335,240
(245,059)
1,090,181
1,090,181
1,335,240

There were no investment assets outside the UK.

The notes form part of these financial statements

Page 14

THE PLUTO EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£ £
Other debtors 94,740 66,752
Prepayments and accrued income 2,627 1,087
97,367 67,839
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£ £
Social security and other taxes 2,246 3,596
Other creditors 27,866 4,585
Pensions payable 687 769
Accruals and deferred income 314,982 468,009
Accrued expenses 1,232 1,488
347,013 478,447

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

14. MOVEMENT IN FUNDS

Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
650,931
TOTAL FUNDS
650,931		 At 1.1.22
£
1,106,628
1,106,628
Resources
expended
£
(309,211)
(309,211)		 Net
movement
in funds
£
241,158
241,158
Gains and
losses
£
(100,562)
(100,562)		 At
31.12.22
£
1,347,786
1,347,786
Movement
in funds
£
241,158
241,158

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.1.21
£
1,036,461
1,036,461		 Net
movement
in funds
£
70,167
70,167		 At
31.12.21
£
1,106,628
1,106,628

The notes form part of these financial statements

Page 15

THE PLUTO EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

14a. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
166,665
166,665		 Resources
expended
£
(146,295)
(146,295)		 Gains and
Movement
losses
in funds
£
£
49,797
70,167
49,797
70,167

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

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.1.21
£
1,036,461
1,036,461		 Net
movement
in funds
£
311,325
311,325		 At
31.12.22
£
1,347,786
1,347,786

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
TOTAL FUNDS		 Incoming
resources
£
817,596
817,596		 Resources
expended
£
(455,506)
(455,506)		 Gains and
Movement
losses
in funds
£
£
(50,765)
311,325
(50,765)
311,325

15. RELATED PARTY DISCLOSURES

During the financial year ended 31 December 2022, the charity engaged in a related party transaction with Dr R M Van Zwanenberg, trustee to the charity. The related party transaction consisted of the gift of a building with the fair market value of £360,000. This contribution was made to support the charitable objectives of the charity and is considered a significant non-cash transaction. The building has been recognised as an asset on the Charity’s statement of financial position at its fair value at the date of the gift. The charity has claimed Gift Aid from HMRC (Her Majesty’s Revenue and Customs) on eligible donations received during the year, in accordance with the relevant tax regulations.

16. GAFOOR INSTITUTE PROJECT

As part of the unrestricted funds, the trustees note that there will be an amount of £309,702 (31/12/2021- £468,009) to be designated to the sole purpose of the Gafoor Institute Project.

The notes form part of these financial statements

Page 16

THE PLUTO EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

17. OTHER INVESTMENTS

Pluto Journals Limited - 100% Wholly Owned Subsidiary - £1 ordinary share held. This company is solvent and gift aids its profits to the holding company.

Pluto Books Limited - 60% Owned Subsidiary - 1500 10p "A" Ordinary Shares. This company is solvent.

18. GROUP BALANCE SHEET

CONSOLIDATED BALANCE SHEET AT 31[st] DECEMBER 2022

FIXED ASSETS
Tangible assets
Intangible assets
Investments
CURRENT ASSETS
Stock
Debtors
Cash at bank
CURRENT LIABILITIES
Creditors
Net current assets
NON CURRENT LIABILITIES
Total assets less liabilities
The funds of the group
40% Minority interest in Pluto Books Limited		 At
31.12.2022
£
364,502
-
736,512
1,101,014
196,047
705,781
698,827
1,600,655
937,354
663,301
56,604
1,707,711
1,563,728
143,983
1,707,711		 31.12.2021
£
11,357
600
836,705
848,662
185,805
421,749
1,111,023
1,718,577
1,028,317
690,260
76,914
1,462,008
1,319,843
142,165
1,462,008

The notes form part of these financial statements

Page 17

THE PLUTO EDUCATIONAL TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
31.12.22 31.12.21
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 5,773 -
Gift aid 630,766 152,270
Donated services and facilities 798 -
637,337 152,270
Investment income
Other fixed asset invest - FII 13,594 14,395
Total incoming resources 650,931 166,665
EXPENDITURE
Charitable activities
Project co-ordinator 74,583 24,641
Editorial fees 30,607 23,205
Charitable contributions 103,122 1,973
Pre-press costs 750 700
Project directors - 53,742
Professional fees 3,834 7,801
Marketing expenses 2,619 7,921
215,515 119,983
Support costs
Property refurbishment
Repairs and renewals 40,631 -
Human resources
Wages 10,614 9,476
Social security - 275
Pensions 364 372
Software licences 1,643 1,612
Advertising 3,000 250
Portfolio management fees 1,221 1,376
16,842 13,361
Administration costs
Insurance 1,106 554
Postage and stationery 204 -
Sundries - 115
Other professional fees 10,263 1,557
Independent examiner's fees 396 360
Finance manager 6,923 6,406
Bank fees 779 296
Computer consumables 746 651
Travelling 6,343 1,074
Depreciation fixtures and fittings 574 450
Training - 360
Carried forward 27,334 11,823

The notes form part of these financial statements

Page 18

THE PLUTO EDUCATIONAL TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
31.12.22 31.12.21
£ £
Administration Costs
Brought forward 27,334 11,823
Exchange gain/loss (2) 3
Subsistence 1,091 -
Computer software amortisation 600 1,125
Freehold property depreciation 7,200 -
36,223 12,951
Total resources expended 309,211 146,295
Net income before gains and losses 341,720 20,370
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments (100,562) 49,797
Net income 241,158 70,167

The notes form part of these financial statements

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