## ## ## ## ||||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$| ||||$0
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8| ## |||Note||2020|2019| |---|---|---|---|---|---| |||||6|6| |Fixed assets|||||| |Tangible assets||||764,904|498619| |Current assets|||||| |Debtors||12|139,830||84,783| |Cash at bank and in|hand||215,850||64,665| ||||355,680||149448| |Creditors: amounts|falling due||||| |within one year||13|(442,225)||(324,577$| |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| |||||Cn|||||||||||OI|Od|lct|00|CO|dd|VI|0|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||||rd|co|dd|Cl|«0|ad|&|Od|CO|CO|d|CO|w|Oc|| ||||||||||||||crt|crt|0I|ca|Od|~|CO'|Vd|ht|N|ra|h,|||| |||||O
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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| ##