COMPANY REGISTRATION NUMBER: 07730926 CHARITY REGISTRATION NUMBER: 1143297
ATERES
Company Limited by Guarantee Unaudited Financial Statements
31 August 2021
ACCOUNTS & BUSINESS SOLUTIONS LIMITED
Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE
ATERES
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Statement of cash flows | 8 |
| Notes to the financial statements | 9 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 21 |
ATERES
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2021.
Reference and administrative details
Registered charity name ATERES Charity registration number 1143297 Company registration number 07730926 Principal office and registered 81 Bewick Road office Gateshead Tyne And Wear NE8 1RR
The trustees
Mr D Schleider Mr Y Halberstadt Mr D Morgan Independent examiner H Davies FCCA 158 Cromwell Road Salford M6 6DE
Structure, governance and management
Ateres is a company limited by guarantee incorporated on 5th August 2011 and is governed by its memorandum and articles of association. The Directors/Trustees are responsible for the governance of the organisation and are active in all operational aspects of strategic management. Major policy decisions are decided at full directors/trustee’s meetings.
1
ATERES
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2021
Objectives and activities
The objects of the charity are the provision of buildings, grants and services for the advancement of the orthodox Jewish faith and the advancement of the Jewish orthodox religion.
The charity is committed to the aim of providing public benefit, and the trustees have considered the Charity Commission's published guidance on public benefit.
The Charity operates a secondary school according to the tenets of the Jewish religion. The charity also provides extra support and educational help to children in need. Counselling services are also provided where required.
The school also arranges and takes part in many activities that provide benefit to the community. These activities range from making the school facilities available to other community charities and organisations, visiting the elderly and ill, help with local families in need, various, "chesed" programmes as well as inviting members of the community to school shows and performances.
The trustees consider they have met the public benefit test and outline these achievements below.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
2
ATERES
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2021
Achievements and performance
Ateres exists to provide Jewish children with a meaningful orthodox Jewish religious education coupled with an excellent secular education. The school serves the local Orthodox Jewish community and has a strong Jewish ethos, with a significant Jewish Studies curriculum and a close relationship with the local Jewish community.
The school places strong emphasis on behaviour and academic achievement and offers a full programme of extra-curricular activities. The school's central aim is 'producing pupils who, as observant Jews, are knowledgeable about their religion and have the necessary skills to enable them to reach the highest levels in their chosen careers. The school strives for excellence in both religious and secular aspects of life. The school aspires to equip each learner with the ability to be an honour to God. Through doing their best in all areas of their lives. Especially in their personal character traits and relationship towards others.
The school continues to achieve exemplary results in both the religious and secular area.
As reported in last year's accounts, the school is in urgent need of additional classrooms to accommodate the student body and all the various subjects taught. Permission has been granted for new classrooms. Fundraising efforts have been made to finance the build cost, which we hope to go underway in the very near future.
Financial review
The charity received £782,621 in income (2020 - £748,526) during the year and paid out £750,005 to further the charity's objectives. The charity has low support and governance costs (see notes to accounts). There was an overall net surplus of resources during the year amounting to £32,616 (2020 - £55,837).
The principal source of fundraising is donations from parents and discretionary donations from donors which have increased by 13.7% to £649,475. The trustees would like to record their appreciation for all the financial support received from benefactors during the course of the year.
The trustees' annual report and the strategic report were approved on 12 May 2022 and signed on behalf of the board of trustees by:
Mr D Schleider Trustee
3
ATERES
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of ATERES
Year ended 31 August 2021
I report to the trustees on my examination of the financial statements of ATERES ('the charity') for the year ended 31 August 2021.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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
Since your charity’s gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ACCA which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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
-
the financial statements 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.
H Davies FCCA Independent Examiner 158 Cromwell Road Salford M6 6DE
4
ATERES
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and grants | 5 | 666,534 | 107,778 | 774,312 | 707,413 |
| Other trading activities | 6 | – | – | – | 27,679 |
| Investment income | 7 | 107 | – | 107 | 1,214 |
| Other income | 8 | 8,202 | – | 8,202 | 12,220 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 674,843 | 107,778 | 782,621 | 748,526 | |
| ================================ | ================================ | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 9 | – | – | – | 37,203 |
| Expenditure on charitable activities | 10 | 626,388 | 107,778 | 734,166 | 655,486 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 626,388 | 107,778 | 734,166 | 692,689 | |
| ================================ | ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income and net movement in | funds | 48,455 | – | 48,455 | 55,837 |
| ================================ | ================================ | ================================ | ================================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 612,160 | – | 612,160 | 556,323 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 660,615 | – | 660,615 | 612,160 | |
| ================================ | ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 19 form part of these financial statements.
5
ATERES
Company Limited by Guarantee
Statement of Financial Position
31 August 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 15 | 569,929 | 564,185 |
| Current assets | |||
| Debtors | 16 | 2,656 | 6,219 |
| Cash at bank and in hand | 380,747 | 396,721 | |
| -------------------------------- | -------------------------------- | ||
| 383,403 | 402,940 | ||
| Creditors: amounts falling due within one year | 17 | 41,372 | 51,883 |
| -------------------------------- | -------------------------------- | ||
| Net current assets | 342,031 | 351,057 | |
| -------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 911,960 | 915,242 | |
| Creditors: amounts falling due after more than one year | 18 | 251,345 | 303,082 |
| -------------------------------- | -------------------------------- | ||
| Net assets | 660,615 | 612,160 | |
| ================================ | ================================ | ||
| Funds of the charity | |||
| Unrestricted funds: | |||
| Revaluation reserve | 37,511 | 37,511 | |
| Other unrestricted income funds | 623,104 | 574,649 | |
| -------------------------------- | -------------------------------- | ||
| Total unrestricted funds | 660,615 | 612,160 | |
| -------------------------------- | -------------------------------- | ||
| Total charity funds | 20 | 660,615 | 612,160 |
| ================================ | ================================ |
For the year ending 31 August 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The statement of financial position continues on the following page.
The notes on pages 9 to 19 form part of these financial statements.
6
ATERES
Company Limited by Guarantee
Statement of Financial Position (continued)
31 August 2021
These financial statements were approved by the board of trustees and authorised for issue on 12 May 2022, and are signed on behalf of the board by:
Mr D Schleider Trustee
The notes on pages 9 to 19 form part of these financial statements.
7
ATERES
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 August 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 48,455 | 55,837 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 3,878 | 19,573 |
| Government grant income | (114,837) | – |
| Other interest receivable and similar income | (107) | (1,214) |
| Interest payable and similar charges | 7,979 | 9,081 |
| Accrued (income)/expenses | (50) | 50 |
| Changes in: | ||
| Trade and other debtors | 3,563 | (6,219) |
| Trade and other creditors | (2,661) | 6,813 |
| -------------------------------- | ---------------------------- | |
| Cash generated from operations | (53,780) | 83,921 |
| Interest paid | (7,979) | (9,081) |
| Interest received | 107 | 1,214 |
| ---------------------------- | ---------------------------- | |
| Net cash (used in)/from operating activities | (61,652) | 76,054 |
| ============================ | ============================ | |
| Cash flows from investing activities | ||
| Purchase of tangible assets | (9,622) | (22,954) |
| ---------------------------- | ---------------------------- | |
| Net cash used in investing activities | (9,622) | (22,954) |
| ============================ | ============================ | |
| Cash flows from financing activities | ||
| Proceeds from borrowings | (59,537) | 44,555 |
| Government grant income | 114,837 | – |
| -------------------------------- | ---------------------------- | |
| Net cash from financing activities | 55,300 | 44,555 |
| ================================ | ============================ | |
| Net (decrease)/increase in cash and cash equivalents | (15,974) | 97,655 |
| Cash and cash equivalents at beginning of year | 396,721 | 299,066 |
| -------------------------------- | -------------------------------- | |
| Cash and cash equivalents at end of year | 380,747 | 396,721 |
| ================================ | ================================ |
The notes on pages 9 to 19 form part of these financial statements.
8
ATERES
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 81 Bewick Road, Gateshead, Tyne And Wear, NE8 1RR.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
9
ATERES
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
3. Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
10
ATERES
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Freehold property | - | 1% straight line |
|---|---|---|
| Fixtures and fittings | - | 15% straight line |
11
ATERES
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
3. Accounting policies (continued)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
12
ATERES
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
The organisation is a charitable company limited by guarantee, in the event of the company being wound up members are required to contribute an amount not exceeding £1.
5. Donations and grants
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | |||
| Donations and contributions | 659,475 | – | 659,475 |
13
ATERES
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
5. Donations and grants (continued)
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Grants | |||||
| Government grant income | 7,059 | 107,778 | 114,837 | ||
| -------------------------------- | -------------------------------- | -------------------------------- | |||
| 666,534 | 107,778 | 774,312 | |||
| ================================ | ================================ | ================================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations and contributions | 579,622 | – | 579,622 | ||
| Grants | |||||
| Government grant income | 38,545 | 89,246 | 127,791 | ||
| -------------------------------- | ---------------------------- | -------------------------------- | |||
| 618,167 | 89,246 | 707,413 | |||
| ================================ | ============================ | ================================ | |||
| 6. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Fundraising events | – | – | 25,179 | 25,179 | |
| Hall hire | – | – | 2,500 | 2,500 | |
| -------------- | -------------- | ---------------------------- | ---------------------------- | ||
| – | – | 27,679 | 27,679 | ||
| ============== | ============== | ============================ | ============================ | ||
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 107 | 107 | 1,214 | 1,214 | |
| ============== | ============== | ======================= | ======================= | ||
| 8. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Other income | 8,202 | 8,202 | 12,220 | 12,220 | |
| ======================= | ======================= | ============================ | ============================ |
14
ATERES
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
9. Costs of raising donations and legacies
| Unrestricted | Total Funds |
Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 |
Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Costs of raising donations and | |||||
| legacies - Other type 1 | – | – |
37,203 | 37,203 | |
| ============== | ============== | ============================ | ============================ | ||
| 10. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Direct charitable activities | 622,653 | 55,267 | 677,920 | ||
| Support costs | 3,735 | 52,511 | 56,246 | ||
| -------------------------------- | -------------------------------- | -------------------------------- | |||
| 626,388 | 107,778 | 734,166 | |||
| ================================ | ================================ | ================================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| £ | £ | £ | |||
| Direct charitable activities | 561,495 | 47,844 | 609,339 | ||
| Support costs | 4,745 | 41,402 | 46,147 | ||
| -------------------------------- | ---------------------------- | -------------------------------- | |||
| 566,240 | 89,246 | 655,486 | |||
| ================================ | ============================ | ================================ | |||
| 11. | Analysis of support costs | ||||
| Analysis of | |||||
| support costs | Total 2021 | Total 2020 | |||
| £ | £ | £ | |||
| Communications and IT | 2,041 | 2,041 | 3,267 | ||
| Governance costs | 1,100 | 1,100 | 1,100 | ||
| Advertising | 594 | 594 | 378 | ||
| Security | 52,511 | 52,511 | 41,402 | ||
| ---------------------------- | ---------------------------- | ---------------------------- | |||
| 56,246 | 56,246 | 46,147 | |||
| ============================ | ============================ | ============================ | |||
| 12. | Independent examination fees | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 1,100 | 1,100 | |||
| ======================= | ======================= |
15
ATERES
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 338,141 | 353,378 |
| Employer contributions to pension plans | 2,995 | 3,131 |
| -------------------------------- | -------------------------------- | |
| 341,136 | 356,509 | |
| ================================ | ================================ |
The average head count of employees during the year was 38 (2020: 38). The average number of full-time equivalent employees during the year is analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| Teaching | 36 | 36 |
| Administrative | 2 | 2 |
| -------------- | -------------- | |
| 38 | 38 | |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
15. Tangible fixed assets
| Freehold | Fixtures and | ||
|---|---|---|---|
| property | fittings | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 September 2020 | 619,519 | 68,534 | 688,053 |
| Additions | 9,622 | – | 9,622 |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| At 31 August 2021 | 629,141 | 68,534 | 697,675 |
| ================================ | ============================ | ================================ | |
| Depreciation | |||
| At 1 September 2020 | 49,775 | 74,093 | 123,868 |
| Charge for the year | 9,437 | (5,559) | 3,878 |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| At 31 August 2021 | 59,212 | 68,534 | 127,746 |
| ================================ | ============================ | ================================ | |
| Carrying amount | |||
| At 31 August 2021 | 569,929 | – | 569,929 |
| ================================ | ============================ | ================================ | |
| At 31 August 2020 | 569,744 | (5,559) | 564,185 |
| ================================ | ============================ | ================================ |
16
ATERES
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
16. Debtors
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Other debtors | 2,656 | 6,219 |
| ======================= | ======================= | |
| Creditors: amounts falling due within one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Bank loans and overdrafts | 10,463 | 18,263 |
| Accruals and deferred income | 1,050 | 1,100 |
| Other creditors | 29,859 | 32,520 |
| ---------------------------- | ---------------------------- | |
| 41,372 | 51,883 | |
| ============================ | ============================ | |
| Creditors: amounts falling due after more than one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Bank loans and overdrafts | 226,023 | 277,760 |
| Other creditors | 25,322 | 25,322 |
| -------------------------------- | -------------------------------- | |
| 251,345 | 303,082 | |
| ================================ | ================================ |
17. Creditors: amounts falling due within one year
18. Creditors: amounts falling due after more than one year
The bank loans are secured by a charge on the property of the company.
19. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Recognised in income from donations and legacies: | ||
| Government grants income | 114,837 | 127,791 |
| ================================ | ================================ |
17
ATERES
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
20. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| 1 September | At | ||||
| 2020 | Income | Expenditure | Transfers | 31 Aug 2021 | |
| £ | £ | £ | £ | £ | |
| General funds | 574,649 | 674,843 | (626,388) | – | 623,104 |
| Revaluation reserve | 37,511 | – | – | – | 37,511 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------- | -------------------------------- | |
| 612,160 | 674,843 | (626,388) | – | 660,615 | |
| ================================ | ================================ | ================================ | ============== | ================================ | |
| At | |||||
| 1 September | |||||
| 2019 | Income | Expenditure | Transfers | At 31 Aug 20 | |
| £ | £ | £ | £ | £ | |
| General funds | 518,194 | 659,280 | (603,443) | 618 | 574,649 |
| Revaluation reserve | 38,129 | – | – | (618) | 37,511 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------- | -------------------------------- | |
| 556,323 | 659,280 | (603,443) | – | 612,160 | |
| ================================ | ================================ | ================================ | ============== | ================================ | |
| Restricted funds | |||||
| At | |||||
| 1 September | |||||
| 2020 | Income | Expenditure | Transfers | At 31 Aug 21 | |
| £ | £ | £ | £ | £ | |
| Restricted Funds | – | 107,778 | (107,778) | – | – |
| ============== | ================================ | ================================ | ============== | ============== | |
| At | |||||
| 1 September | |||||
| 2019 | Income | Expenditure | Transfers | At 31 Aug20 | |
| £ | £ | £ | £ | £ | |
| Restricted Funds | – | 89,246 | (89,246) | – | – |
| ============== | ============================ | ============================ | ============== | ============== |
18
ATERES
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
21. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Tangible fixed assets | 569,929 | 569,929 |
| Current assets | 383,403 | 383,403 |
| Creditors less than 1 year | (41,372) | (41,372) |
| Creditors greater than 1 year | (251,345) | (251,345) |
| -------------------------------- | -------------------------------- | |
| Net assets | 660,615 | 660,615 |
| ================================ | ================================ | |
| Unrestricted | Total Funds | |
| Funds | 2020 | |
| £ | £ | |
| Tangible fixed assets | 564,185 | 564,185 |
| Current assets | 402,940 | 402,940 |
| Creditors less than 1 year | (51,883) | (51,883) |
| Creditors greater than 1 year | (303,082) | (303,082) |
| -------------------------------- | -------------------------------- | |
| Net assets | 612,160 | 612,160 |
| ================================ | ================================ |
22. Analysis of changes in net debt
| At | At | ||
|---|---|---|---|
| 1 Sep 2020 | Cash flows | 31 Aug 2021 | |
| £ | £ | £ | |
| Cash at bank and in hand | 396,721 | (15,974) | 380,747 |
| Debt due within one year | (18,263) | 7,800 | (10,463) |
| Debt due after one year | (277,760) | 51,737 | (226,023) |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| 100,698 | 43,563 | 144,261 | |
| ================================ | ============================ | ================================ |
19
Company Limited by Guarantee
ATERES
Management Information
Year ended 31 August 2021
The following pages do not form part of the financial statements.
20
ATERES
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 August 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| 2021 | 2020 | |
| £ | £ | |
| Income and endowments | ||
| Donations and grants | ||
| Donations and contributions | 659,475 | 579,622 |
| Government grant income | 114,837 | 127,791 |
| -------------------------------- | -------------------------------- | |
| 774,312 | 707,413 | |
| -------------------------------- | -------------------------------- | |
| Other trading activities | ||
| Fundraising events | – | 25,179 |
| Hall hire | – | 2,500 |
| -------------- | ---------------------------- | |
| – | 27,679 | |
| -------------- | ---------------------------- | |
| Investment income | ||
| Bank interest receivable | 107 | 1,214 |
| -------------- | ----------------------- | |
| Other income | ||
| Other income | 8,202 | 12,220 |
| ----------------------- | ---------------------------- | |
| -------------------------------- | -------------------------------- | |
| Total income | 782,621 | 748,526 |
| ================================ | ================================ | |
| 2021 | 2020 | |
| £ | £ | |
| Costs of raising donations and legacies | ||
| Rent | – | 280 |
| Repairs & maintenance | – | 1,934 |
| Legal and professional fees | – | 2,717 |
| Telephone | – | 1,785 |
| Other office costs | – | 251 |
| Advertising and PR | – | 12,737 |
| Refreshments | – | 17,499 |
| -------------- | ---------------------------- | |
| – | 37,203 | |
| -------------- | ---------------------------- | |
| -------------- | ---------------------------- | |
| Costs of raising donations and legacies | – | 37,203 |
| ============== | ============================ |
21
ATERES
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 August 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Direct charitable activities | ||
| Activities undertaken directly | ||
| Books and Educational equipment | 9,805 | 12,089 |
| Wages, salaries and supply teachers | 338,141 | 353,378 |
| Pension costs | 2,995 | 3,131 |
| Equipment rental | 1,690 | 826 |
| Rent | 3,221 | 3,220 |
| Rates & water | 6,605 | 7,708 |
| Light & heat | 14,700 | 18,766 |
| Repairs & maintenance | 18,283 | 13,014 |
| Insurance | 10,670 | 5,136 |
| Sundry and cleaning expenses | 34,998 | 21,404 |
| Motor/travel costs | 4,001 | 5,408 |
| Legal and professional fees | 17,767 | 2,180 |
| Stationery and Printing | 20,922 | 15,377 |
| Depreciation | 3,878 | 19,573 |
| Interest on bank loans and overdrafts | 7,979 | 9,081 |
| Activities and Provisions | 84,457 | 54,563 |
| Staff training and welfare | 14,734 | 6,068 |
| Educational consultancy | 81,297 | 57,836 |
| Postage and delivery | 1,777 | 581 |
| -------------------------------- | -------------------------------- | |
| 677,920 | 609,339 | |
| -------------------------------- | -------------------------------- | |
| Support costs | ||
| Telephone | 2,041 | 3,267 |
| Advertising | 594 | 378 |
| ----------------------- | ----------------------- | |
| 2,635 | 3,645 | |
| ----------------------- | ----------------------- | |
| Other Support costs | ||
| Security | 52,511 | 41,402 |
| ---------------------------- | ---------------------------- | |
| Governance costs | ||
| Governance costs - accountancy fees | 1,100 | 1,100 |
| ----------------------- | ----------------------- | |
| -------------------------------- | -------------------------------- | |
| Expenditure on charitable activities | 734,166 | 655,486 |
| ================================ | ================================ | |
| -------------------------------- | -------------------------------- | |
| Net income | 48,455 | 55,837 |
| ================================ | ================================ |
22