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2020-08-31-accounts

Page
General information
Report ofthe Trustees 3-13
Independent Auditor's report 14-16
Income and expenditure account 17
Statement of financial activities
Balance sheet
Statement of cash flows 20
Notes to the financial statements 21-32

Trustees and Directors Judith
Cobham-Lowe		 Judith
Cobham-Lowe		 (resigned 29 (resigned 29 January 2021) January 2021)
Alison Swan Parente
Daniel Jessel
Susan Amaku
Nicholas
Hatton (appointed		 as Chair of Trustees 29January
2021)
Fran Warde
Trustee Joe Schneider
Secretary Sarah Andrew
Country ofincorporation England
and		 Wales
Registered office Lower Motor yard
Welbeck
Worksop
Nottinghamshire
5803LR
Company number 06741463
Charitable status The School ofArtisan Food is a company limited
by guarantee which was registered as a charity on
31December 2010. its charity number is 1139632.
Auditors Dixon Wilson Audit Services LLP
22 Chancery Lane
London
WC2A 1LS
Bankers I-landelsbanken
Nottingham
Branch
Ground
Floor
22a The Ropewalk
Nottingham
NG1 9DT

Note 2020 2019
6 E 6 6
Surplus
on short courses		 72,627 159082
(Deficit)/ surplus
on diploma courses		 (20,324) 35487
Surplus on foundation degree course 76,381
Deficit on catering (30,137) (65898$
Surplus on courses and other
charitable
activities		 98,547 128671
Miscellaneous
income		 23,202 33,372
Profit on disposal offixed asset 5,833
Bank interest 248 74
Regular income 29,283 33446
General expenditure (782,747) ('787243$
Regular income less general expenditure (753,464) (753797$
Deficit on operations (654,917) (625126$
Donations
and grants		 3,668,656 343914
Net incoming/(outgoing) resource for the year
(page 18) 3,013,739 (281,212$
General fund 2,677,162 (292141$
Restricted fund 336,577 16225
Big Lottery fund (Local Food) (5296/
Total surplus/(defidt) for the year (page 18) 3,013,739 (281,212$
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Note 2020 2019
6 6
Fixed assets
Tangible assets 764,904 498619
Current assets
Debtors 12 139,830 84,783
Cash at bank and in hand 215,850 64,665
355,680 149448
Creditors: amounts falling due
within one year 13 (442,225) (324,577$
Net current liabilities (86,545) (175129$
Creditors: amounts falling due
aRer one year 14 (681,591) (3340,461$
Net liabilities (3,232) (3016971/
Accumulated
deficit		 (page 18)
Unrestri*ed
funds
General fund (52,330) (3033196)
Restricted
fund		 49,098 16,225
Total 18 (3,232) (3016971/

2020 2019
6 6
Cash flows from operating actlvltles:
JVet cash fiomi(nsedin)
opetatfngacttefnes		 15 87,604 (240,166$
Cash flows from investing activities:
Proceeds from the sale ofproperty, plant and equipment 5,833
Purchase ofproperty,
plant and equipment		 (267,499) (B695)
Net cash vsedin inrestingactfvfdes (261,666) I'B695$
Cash flows from financing activities:
Increase in long term loans 325,000 240,000
Sank interest receivable 248 74
iVetcash hum ifnancing activities 325,248 240,074
Changain cash aodcash eqnfsrden tain the repordngperiod
Cash and cash equivalents
atthe beginning ofthe		 151,185 (e7S7y
reporting
period		 64,665 73452
Cash and cash aqnfenfentsat
the end of'the repordngperiod		 215,850 64665

3.
Prior		 period finandal period finandal activities by fund
BlgLottery Fund
General fund Restricted Bursary fund (Local Food) Total
(unrestricted) donations (restricted) (restricted) 2019
6 6 6 6 6
Income:
Donations and legacies
Donations 205,426 16,225 88,260 309,911
Grants 34,003 34,003
income from charitable activities
Short courses 380,586 380,586
Diploma courses 313,814 313,814
Catering 16,765 16,765
Otherincome 33,446 33,446
Total income 984,040 16,225 88,260 1,088,525
Ettpendi tutus
Expenditure on chari table acti vities (1,364,441) (5,296) (1,369,737)
Net expenditure and
net movement in funds forthe year (380,401) 16,225 88,260 (5,296) (281,212)
Transfer to general fund 88,260 (88,260)
Reconcflladon offundst
Total funds brought forward
at 1September 2018 (2,741,055) 5,296 (2,735,759)
Total funds carried forward
at 31August 2019 (3,033,196) 16,225 (3,016,971)

4. Donations and grants Donations and grants
Donated
Loan goods and Cash Total Total
Waiver facilities donations 2020 2019
Unrestricted
donations		 E E E E
Over E10,000 2,950,000 109,622 135,000 3,194,622 195,358
Under 610,000 4,700 11,360 16,060 10,068
Total unrestricted
donations		 2,950,000 114,322 146,360 3,210,682 205,426
Restricted Bursary Total Total
donations fund 2020 2019
Restricteddonations E 6 E
The A8Charitable Trust 16225
H Matheson 13800
Barbara Curtis Legacy 194,879 13,900 208,779 27,800
Whitaker's
Charitable		 Trust 18000
The Rothschild Foundation 26380
Leader 92,225 92,225
Coldman
Sachs		 38,213 38,213
Under 610,000 6,700 6,700 2180
Total restricted donations 332,017 13,900 345,917 104485
Grants 2020 2019
E
Release ofFixed Asset grant 34,036 34,003
Furlough
Claims		 78,021
Total unrestricted
donations		 112,057 34,003
Total donations and grant 3,668,656 343,814
5. Diploma courses
Diploma course income consists of:
2020 2019
E
Gross tuition fees 145,685 369856
Student accommodation 30,134 49518
Less:total bursaries (18,900) (105560$
156,919 313816
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7.
Net incoming resources for		 the year 2020 2019
6
This is stated after charging:
Depreciation 76,214 81,049
Auditors'
remuneration		 12,000 12,000
8.
Staffcosts and remuneration		 ofkey management personnel 2020 2019
Salaries and wages 422,372 383,297
Social security costs 29,546 27,047
Other pension costs 11,179 8050
Total 463,097 418394

11.
Fixed assets		 Short
leasehold Fixtures
property Plant and OfBce and Motor
improvements equipment equipment fittings vehicles Total
E E E 6 6 6
Cost
Brought forward 1,152,031 370,030 54,446 99,231 30,000 1,705,738
Additions 329,768 12,098 634 342,500
Disposals (30,000) (30,000)
At31August 2020 1,481,799 382,128 55,080 99,231 2,018,238
Depreciation
Brought forward 732,005 297,075 53,371 94,668 30,000 1,207,119
Charge for the year 46,097 27,165 629 2,324 76,214
Eliminated
on disposai		 (30,000) (30,000)
At 31August 2020 778,102 324,240 54,000 96,992 1,253,334
Net book value
At 31August 2020 703,697 57,888 1,080 2,239 764,904
At 31August 2019 420,026 72,955 1,075 4,563 498,619
12.
Debtors: amounts		 falling due within one year 2020 2019
E
Trade debtors 4,142 15475
Other debtors 12,398 45627
Prepayments 123,290 23,681
139,830 84,783

13. Creditors: amounts falling due within one year 2020 2019
6 6
Trade creditors 136,853 117842
Accruals and other creditors 92,786 31,690
Other taxes including Social Security 34,610 22966
Deferred income 177,976 152079
442,225 324,577
14. Creditors: amounts falling due after one year 2020 2019
Other creditors 250,000 2,875000
Deferred income 431,591 465461
681,591 3340461
from operating acuvi ties
2020 2019
Note 6 6
Netinoomo/(osfsondrtvru) Ibrthe ruporthgfirerfed 3,013,739 (281,212)
Adjustments
for:
Amortisation 34,036 34,003
Depreciation 76,214 81,049
Profit on sale offixed asset (5,833)
Non cash rent expense 98,024
(increase)/decrease
in debtors		 (55,047) 12691
increase/(decrease)
in creditors		 83,778 (34820)
Release offixed asset grant (34,036) (34,003)
Donated goods and facilities (114,322) (17,800)
Accrued PPE additions (58,701)
Loan waiver (2,950,000)
Bank interest receivable (248) (74)
Net cash /rom/(used In)operatingacdeftfes 87,604 (240166)

16.
Analysis ofchanges in net debt		 16.
Analysis ofchanges in net debt
At At
1September Cash Non-cash 31August
2019 flows changes 2020
Cash and cash equivalents 6 6
Cash 64,665 151,185 215,850
64,665 151,185 215,850
Borrowings
Debt due within one year (59,714) 56,501 (3,213)
Debt due after one year (2,875,000) (325,000) 2,950,000 (250,000)
(2,934,714) (268,499) 2,950,000 (253,213)
Total net debt (2,870,049) (117,314) 2,950,000 (37,363)
17.
Analysis ofnet		 OiabiTities)/assets between funds General Restricted Total
fund funds
6 6
Tangible fixed assets 764,904 764,904
Current assets 306,582 49,098 355,680
Current liabilities (442,225) (442,225)
Long term liabilities (681,591) (681,591)
Net (liabilities)/assets at31August 2020 (52,330) 49,098 (3,232)
18.
Movement offunds
At At
1September Incoming Outgoing 31August
2019 resources resources Transfers 2020
Restricted funds 6 6 6 6
Donations 16,225 332,017 (9,340) (289,804) 49,098
Bursary fund 13,900 (13,900)
Total restricted 16,225 345,917 (9,340) (303,704) 49,098
Unrestricted
funds
General fund (3,033,196) 3,814,105 (1,136,943) 303,704 (52,330)
Total funds (3,016,971) 4,160,022 (1,146,283) (3,232)

These are initially recognised at transaction
value and		 subsequently
measured at their amortised c		 ost.
Financial assets 2020 2019
6
Trade debtors 4,142 15475
Other debtors 12,398 45627
16,540 61,102
Financial liabilities 2020 2019
8 6
Trade creditors 136,853 117042
Other creditors 250,000 2,075000
Accruals 92,786 31,690
479,639 3024,532