| Page | Page | ||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 7 |
| Report ofthe Independent Auditors |
8 | to | 10 |
| Statement ofFinancial Activities | |||
| Balance Sheet | 12 | ||
| Cash Flow Statement | |||
| Notes tothe Cash Flow Statement | 14 | ||
| Notes to the Financial Statements | 16 | to | 21 |
| DetaIled Statement ofFinancial Activities |
22 |
| Statement ofFinanci ForThs Year Ended |
al Activitie 31stDece |
s mber 2020 |
|||||
|---|---|---|---|---|---|---|---|
| 31/12/20 | 31/12/19 | ||||||
| Unrestricted | Restricted | Total | Total | ||||
| Notes | fund | fund 5 |
funds 6 |
fundsf | |||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Charitable activities Tuition Income |
2 | 79,409 | 2,291,877 | 2,371,286 | 2,150,469 | ||
| Other income | 51,319 | 118,893 | 170,012 | 124,145 | |||
| Total | 130,728 | 2,410,670 | 2,641,298 | 2,274,614 | |||
| EXPENDITURE ON | |||||||
| Charitable activities |
|||||||
| Direct training costs | |||||||
| 21,802 | 1,362,388 | 1,384,300 | 1,291,721 | ||||
| Overheads | 63,614 | 1,054,799 | 1,118,313 | 1,059,299 | |||
| Total | 86,418 | 2,417,197 | 2,602,613 | 2,351,020 | |||
| NET INCOME/(EXPENDITURE) | 46,312 | (6,627) | 38,685 | (76,406) | |||
| Transfers between | funds | 13 | 146 | (145) | |||
| Net movement In funds |
46,467 | (6,772) | 38,686 | (76,406) | |||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds brought forward | 471,902 | 20,081 | 481,963 | 688,369 | |||
| TOTAL FUND8 CARRIED FORWARD | 617,359 | 13,289 | 630,648 | 491,983 |
| Balance Sheet 31stDecember 2020 |
|||||
|---|---|---|---|---|---|
| 31/I2/20 | 31/12/19 | ||||
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | 8 | 6 | 8 | 8 | |
| FIXEDASSETS | |||||
| Tangible assets investments |
9 'IO |
48,375 | 46,375 | 54,362 5,000 |
|
| 46,376 | 46,375 | 69,382 | |||
| CURRENT'ASBETS | |||||
| Debtors Cash at bank and In hand |
528,218 138,245 |
114,264 | 840,482 138,245 |
598,017 55,200 |
|
| 664,463 | 'l14,264 | 778,727 | 653,217 | ||
| CREDITORS Amounts falling due within one year |
12 | (193,479) | (100,976) | (294,454) | (220,616) |
| NET CURRENT ASSETS | 470,984 | 13,289 | 484,273 | 432,601 | |
| TOTAL ASSETSLEBSCURRENT | LIABILITIES | 517,359 | 13,289 | 530,848 | 491,983 |
| NETASSETS/(I.IASILITIES) | 617,359 | 13,289 | 530,848 | 491,983 | |
| FUNDS | 13 | ||||
| Unrestricted funds: General I'und |
517,359 | 471,902 | |||
| Re80ICtsd funds: Spsel6c fund |
13,289 | 20,061 | |||
| TOTAL FUNDS | 530,848 | 491,983 |
| Cash Flow Statement ForThe Year Ended 31stD |
ecember 20 | 20 | ||
|---|---|---|---|---|
| 31/12/20 | 31/12/19 | |||
| Notes | 8 | |||
| Cash flows from operating activities Cash generated from operations Finance costs paid |
1 | 89,642 (3,576) |
(181,603) (1,865) |
|
| Net cash provided by/(used |
In) operating | activities | 86,067 | (183,468) |
| Cash flows from Investing activities Purchase oftangible fixed assets |
(3,022) | (5,275) | ||
| Nst cash used In investing activities |
(3,022) | (5,275) | ||
| Change In cash and cash the reporting period |
equivalents | In | 83,045 | (188,743) |
| Cash and cash equivalents beginning ofths reporting |
at the period |
65,200 | 243,943 | |
| Cash and cash equivalents the reporting period |
atths end | of | 138,245 | 55,200 |
| RECONCILIATION OF ACTIVITIES |
NET IN | COME/(EXPE | NDITURE) TO NET CASH FL |
OW FROM OPERATING | |
|---|---|---|---|---|---|
| 31/12/20 2 |
31/12/19 f |
||||
| Net income/(expenditure) Statement ofFinancial |
for the reporting Activities) |
period (as psr the | 38,685 | (76,406) | |
| AdJustments for: Depreciation charges Losses on investments Finance costs Increase in debtors Increase in creditors |
11,009 6,000 3,575 (42,465) 73,838 |
13,691 1,886 (222,244) 101,691 |
|||
| Ncashrovided b/( |
sed | in)operations | 89,642 | (181,803) |
| ANALYSIS OF C | HANGES IN NET FUNDS |
|||
|---|---|---|---|---|
| At 1,1,20 | Cash 4ow | At 31,12.20 | ||
| 2 | 4 | |||
| Net cash Cash at bank and |
In hand | 65,200 | 83,045 | 138,246 |
| 55,200 | 83,045 | 138,245 | ||
| Total | 65,200 | 83,046 | 138,245 |
| INCOME FRO | 31/12/20 | 31/12/19 | ||||
|---|---|---|---|---|---|---|
| Tuition Income | Activity Tuition Income |
8 2,371,286 |
2,150,459 | |||
| CHARITABLE | ACTIVITIES COSTS | Direct | ||||
| Costs | ||||||
| 8 | ||||||
| Direct training | costs | |||||
| 1,384,300 | ||||||
| BUPPORT COSTS | Governance | |||||
| Management | Finance 8 |
costs f |
Totals f |
|||
| Otherrssources expended |
48,233 | 3,676 | 14,217 | 66,026 | ||
| NET INCOME/(EXPENDITURE) | ||||||
| Net Income/(expenditure) | ls stated eRsr charging/(crediting); | |||||
| 31/12/20 | 31/12/19 | |||||
| 8 | 8 | |||||
| Depreciation | -owned assets | 11,009 | 13,591 |
| ForT | he Year Ended 31stDe | cember | 20 | 20 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7. | STAFF COSTS | 31/12/20 | 31/12/19 | |||||||||
| 6 | 5 | |||||||||||
| Wages and salaries Social security costs Other pension costs |
749,179 55,765 16,871 |
612,670 54,897 28,581 |
||||||||||
| 821,815 | 698,148 | |||||||||||
| The average monthly |
number | ofemployees | during the year was as | follows: | ||||||||
| 31/12/20 | 31/12/19 | |||||||||||
| Employees | 39 | 67 | ||||||||||
| The number of employees |
whose | employee | beneRts | (exdudlng | employer pension |
costs) exceeded | F60,000 | |||||
| was: | ||||||||||||
| 31/12/20 | 31/12/19 | |||||||||||
| 580,001 - 590,000 | 1 | 1 | ||||||||||
| COMPARATIVES FORTHE | STATEMENT | OF | FINANCIAL ACTIVITIES Unrestricted |
Restricted | Total | |||||||
| fund | fund | funds | ||||||||||
| 6 | 6 | 6 | ||||||||||
| INCOME AND ENDOWMENTS | FROM | |||||||||||
| Charitable aotlvltlss Tuition Income |
292,214 | 1,868,265 | 2,160,489 | |||||||||
| Other Income | 124,145 | 124,145 | ||||||||||
| Total | 408,359 | 1,888,255 | 2,274,614 | |||||||||
| EXPENDITURE ON | ||||||||||||
| Charitable activities |
||||||||||||
| Direct training costs | ||||||||||||
| 1,291,721 | 1,291,721 | |||||||||||
| Overheads | 124,213 | 936,086 | 1,059,299 | |||||||||
| Total | 124,213 | 2,226,807 | 2,361,020 | |||||||||
| NET INCOME/(EXPENDITURE) | 282,146 | (358,552) | (76,406) | |||||||||
| Transfers between | funds | (368,613) | 368,613 | |||||||||
| Nst movement In funds |
(86,467) | 10,061 | (76,406) | |||||||||
| RECONCILIATION | OF FUNDS | |||||||||||
| Total funds brought forward | 558,369 | 10,000 | 568,369 | |||||||||
| TOTAL FUNDS CARRIED | FORWARD | 471,902 | 20,061 | 491,963 |
| TANGIBLE FIXEDASSETS | |||
|---|---|---|---|
| Fixtures | |||
| and | Computer | ||
| fittings 9 |
equipment 8 |
Totals 9 |
|
| COST At 1stJanuary 2020 Additions |
71,200 | 38,987 3,022 |
110,187 3,022 |
| At 31stDecember 2020 | 71,200 | 42,009 | 113,209 |
| DEPRECIATION At 1stJanuary 2020 Charge for year |
35,016 7,237 |
20,809 3772 |
55,825 11,009 |
| At 31stDecember 2020 | 42,263 | 24,581 | 88,834 |
| NET BOOK VALUE At 31stDecember 2020 |
28,947 | 17,428 | 46,375 |
| At 31stDecember 2019 | 38,184 | 18,178 | 64,362 |
| DEBTORSAMOUNTS | FALLINGDUEWITHINONEYEAR | ||
|---|---|---|---|
| : | 31/12/20 | 31/I2/I 8 | |
| 6 | 2 | ||
| Amounts owed by group Credit card Fees receivable Other debtors Prepayments |
undertakings | 4,800 189,407 417,913 28,362 |
4,800 3,830 411,651 122,100 55,738 |
| 640,482 | 598,017 |
| 12. | CREDITORS: ANIOUNTS | FALLING DUE WITHIN ONE YEAR | FALLING DUE WITHIN ONE YEAR | 31/12/20 | 31/12/1 9 | |
|---|---|---|---|---|---|---|
| 8 | 8 | |||||
| Trade creditors Social security and other Pensions Credit card Accrued expenses |
taxes | 146,597 21,346 3,130 74 123,307 |
8,524 26,552 185,540 |
|||
| 294,464 | 220,616 | |||||
| 13. | MOVEMENT IN FUNDS |
Net | Transfers | |||
| movement | between | At | ||||
| At 1.1.20 | in funds | funds | 31,12,20 | |||
| 8 | 8 | 6 | 8 | |||
| Unrestricted funds General fund |
471,902 | 45,312 | 145 | 517,359 | ||
| Restricted funds Specific fund |
20,081 | (6,627) | (145) | 13,289 | ||
| TOTALFUNDS | 491,963 | 38,685 | 530,848 | |||
| Nst movsmsnt In funds, |
Included | In the above srs as follows; | ||||
| Incoming | Resources | Movemsnt | ||||
| resources f |
expended 8 |
In funds 9 |
||||
| Unrestricted funds General fund |
130,728 | (85,418) | 45,312 | |||
| Restrtcted funds Speciflo fund |
2,410,570 | (2,417,197) | (6,627) | |||
| TOTALFUNDS | 2,541,298 | (2,602,613) | 38,685 | |||
| Compsratlves for movement |
In funds | |||||
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.1.19 f |
In funds 8 |
funds 8 |
31.12.19 f |
|||
| Unrestricted funds General fund |
558,369 | 282,146 | (388,813) | 471,902 | ||
| Restricted funds Specific fund |
10,000 | (358,552) | 368,613 | 20,061 | ||
| TOTAL FUNDS | 568,369 | (76,406) | 491,963 |
| Comparative net movemen |
t in funds, Included in the |
above are | as | follows: | ||
|---|---|---|---|---|---|---|
| Incoming | Resources | Movemsnt | ||||
| resources f |
expended f |
in funds 6 |
||||
| Unrestricted funds General fund |
406,359 | (124,213) | 282,146 | |||
| Restricted funds Specific fund |
1,868,255 | (2,228,807 ) | (358,552) | |||
| TOTALFUNDS | 2,274,614 | (2,351,020) | (76,406) | |||
| A ourrent year 12 months | and prior year 12 months | combined | position Isas follows: | |||
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.1.19 | in funds | funds | 31.12,20 | |||
| 6 | 6 | 6 | ||||
| Unrestricted funds General fund |
668,389 | 327,458 | (368,468) | 617,359 | ||
| Restrloted funds Specific fund |
10,000 | (366,179) | 368,468 | 13,289 | ||
| TOTAL FUNDS | 668,369 | (37,721) | 630,648 |
| A current year |
12 months | and prior year 12 months | combined | net movement | In funds, Induded |
in the above | are |
|---|---|---|---|---|---|---|---|
| as follows. | |||||||
| Incoming | Resources | Movemsnt | |||||
| resources | expended | In funds | |||||
| 6 | 6 | 8 | |||||
| Unrestricted General fund |
funda | 637,087 | (209,829) | 327,458 | |||
| Restricted funds Spsclfio fund |
4,278,826 | (4,644,004) | (366,179) | ||||
| TOTAL FUNDS | 4,815,912 | (4,863,633) | (37,721) |
| Detailed Statement ofFinancia D |
l Activities b2020 |
||
|---|---|---|---|
| ForThe Year Ended 31stec | emer | 31/12/20 | 31/12/19 |
| 2 | 6 | ||
| INCOME AND ENDOWMENTS | |||
| Charitable activities Tuition income |
2,371,286 | 2,150,469 | |
| Other income Rental income Other income HMRC Grants |
50,792 624 118,698 |
120,107 4,038 |
|
| 170,012 | 124,145 | ||
| Total Incoming resources | 2,541,298 | 2,274,614 | |
| EXPENDITURE | |||
| Charitable sotivltles Learning provider costs Impairment losses for unlisted |
Investments | 1,379,300 6,000 |
1,291,721 |
| 1,384,300 | 1,291,721 | ||
| Overheads Wages Social security Pensions Rent and service charges Business rates and water Nest snd light Repairs and renewals Cleaning Travel and subsistence Accountancy Fixtures and fittings Computer equlpmsnt |
749,179 55,765 16,871 161,071 7,897 27,291 9,722 3,600 5,321 4,562 7,237 3,772 |
612,670 64,897 28,581 166,000 35,120 26,855 30,071 28,700 13,493 5,400 9,048 4,645 |
|
| 1,052,288 | 1,005,378 | ||
| Support costs | |||
| Management Telephone and broadband Printing, postage &stationery General expenses |
11,274 6,338 30,621 |
15,132 14,472 9,434 |
|
| 48,233 | 39,038 | ||
| Finance Bank charges |
3,576 | 1,865 | |
| Governance costs Insurance Audit fees |
2,779 11,438 |
2,125 10,893 |
|
| 14,217 | 13,018 | ||
| Total resources expended | 2,502,613 | 2,351,020 | |
| Net Income/(expenditure) | 38,685 | (76,406) |