## ||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)|