**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 - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 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 Page 19