2021-03-31-accounts

Company registration number: 07996065 Charity registration number: 1148173

Able 2 Achieve Trust Limited

(A company limited by share capital)

Annual Report and Financial Statements

for the Year Ended 31 March 2020

Able 2 Achieve Trust Limited

Contents

Reference and Administrative Details	1
Trustees' Report	2
Statement of Trustees' Responsibilities	3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the Financial Statements	7 to 16

Able 2 Achieve Trust Limited

Reference and Administrative Details

Trustees

R J U Elliott Rev N Dietz J D Munn M Gulliver M Benson E Ruell K Underhill

Principal Office

23-25 Princes Street Yeovil Somerset BA20 1EN

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The charity is incorporated in England .

Company Registration Number

07996065

Charity Registration Number

1148173

Independent Examiner

Mr Craig Harrison Howes Chartered Accountant 22 Watercombe Heights Yeovil BA20 2TA

Accountants

Gilbie Roberts Limited Chartered Certified Accountants 1 Church Terrace Yeovil Somerset BA20 1HX

Page 1

Able 2 Achieve Trust Limited

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2020.

Objectives and activities

Public benefit

Activities undertaken to further public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Financial instruments

Objectives and policies

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

The annual report was approved by the trustees of the charity on 12 March 2021 and signed on its behalf by:

......................................... R J U Elliott Trustee

Page 2

	Trustees’ Annual Report for theperiod	Trustees’ Annual Report for theperiod	Trustees’ Annual Report for theperiod	Trustees’ Annual Report for theperiod	Trustees’ Annual Report for theperiod	Trustees’ Annual Report for theperiod	Trustees’ Annual Report for theperiod
	Period Start Date				Period end Date
	Day	Month	Year		Day	Month	Year
From	01	04	2019	To	31	03	2020

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Reference and Administration details
Charity name able2achieve Trust
Other names charity is known by a2a Trust
Registered charity number 1148173
Charity’s principal address 25 Princes Street, Yeovil, Somerset
Postcode BA20 1EN
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Names of the charity Trustees on date of approval of Trustees’ Annual Report

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Trustee Commenced Dates acted if not Name of person (or body)
for whole year entitled to appoint trustee
(if any)
1 RJU Elliott March 2012
2 John Munn May 2014
3 Margaret Gulliver Sept 2016
4 Rev Matthew Dietz Sept 2016 Chair
5 Dave Bullen Sept 2016
6 Edward Ruel Sept 2016 Vice Chair
7 Karen Underhill March 2019
8
9
Structure, Governance and Management
Type of governing document able2achieve trust limited is an independent charity and a
company limited by guarantee, registered number
07996065. The governing document is the memorandum
and articles of association dated 19 [th] March 2012,
amended on the 1 [st] June 2012. This is the 6th period of
operation for the trust.
Trustee Recruitment and appointment New trustees are invited to become trustees by existing
trustees and resign at the subsequent Annual General
meeting, one third of the trustees shall retire by rotation
being those in office, and they can seek re-election. None
of the trustees has any beneficial interest in the company.
All of the trustees are members of the company and
guarantee to contribute £10 in the event of liquidation of
the company.
The Trustees employ staff to run the day to day activities of
the charity, with strategic decisions being taken at a Trustee
level.
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Page 2

Objectives and activities	Objectives and activities
Charitable purposes The objects of the charity, as set in the governing document, are: “ To relieve the needs of people with a learning disability or difficulty in particular but not exclusively by providing support and services to help these individuals develop essential life skills and self-confidence through learning, living and working.” We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help.
Summary of the main activities in relation to these objects The review also helps us ensure our aim, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewingour aim and objectives theyhave set.
Achievements andperformance
Summary of the main achievements of the charity during the financial period	Our main objectives for the year continued to be providing support and services to help those we support develop essential life skills and self-confidence through learning, living and working. Given the shortfall in statutory services there is a clear need for charitable organisations to fulfil that need. Achievements included: The trust now has its own payroll system. Our community Café (The Winking Frog) has increased turnover by a further 5%. a2a antiquities – the antique / collector’s shop has attracted more learners and is advertising online. ‘Bake-Able’ has been completely refurbishment and will soon be offering independent cooking courses. The Silver Otter, in Ottery St Mary has increased turnover by a further 30% and continues to be a community asset. All services deliver real work life skills offering work preparation placements for people with a learning disability and associated disorders within the local area Our retail outlet with training facilities in retail and basic shop work (a2a trust shop) continues to trade furniture and sells antiques and other donated furniture to the public both from the retail shop and online. The Trust continues to support a monthly disco on the last Fridayof everymonth from the Yeovil site.

Page 2

Financial Review
Brief statement of charity’s policy	The principal funding sources for the charity are currently by way of sponsorship from Ltd Companies and income generated by the charity shop outlets and a convenient donation from a local business linked to day services.
Details of any deficit	The charity’s funds are spent establishing new vocational areas for work skills to be taught and learnt by individuals. A fundraising strategy needs to be put in place and a strategy for each retail outlet to break even has now been drawn up once the outlet has an established customer base. The Trustees applied for several local grants, some of these were successful.
Donated facilities and services ( if any)	Payroll services from a2a Ltd have been transferred to the Trust during 2019
Plans for future periods	The Charity will continue to expand on its work preparation as demand increases. The charity is still looking to employ a job coach to have more outcomes for ongoing employment after work skills have been established by individuals. Main area of expansion will be focussed on the Bake-Able enterprise and seeking funding for external placements.

Page 2

Able 2 Achieve Trust Limited

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Able 2 Achieve Trust Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 12 March 2021 and signed on its behalf by:

......................................... R J U Elliott Trustee

Page 3

Able 2 Achieve Trust Limited

Independent Examiner's Report to the trustees of Able 2 Achieve Trust Limited

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2020 which are set out on pages 5 to 16.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Able 2 Achieve Trust Limited (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of Able 2 Achieve Trust Limited 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 your 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 Able 2 Achieve Trust Limited's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, 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:

1. accounting records were not kept in respect of Able 2 Achieve Trust Limited as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts 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

4. the accounts 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.

...................................... Craig Howes FCA Chartered Accountant ICAEW

22 Watercombe Heights Yeovil BA20 2TA

• 12 March 2021

Page 4

Able 2 Achieve Trust Limited

Statement of Financial Activities for the Year Ended 31 March 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note Unrestricted funds £ Total 2020 £	Note Unrestricted funds £ Total 2020 £
Income and Endowments from:
Donations and legacies 3	10,030 10,030
Other trading activities 4	265,644 265,644
Other income 5	47,607 47,607
Total income	323,281 323,281
Expenditure on:
Raisingfunds 6	(322,392) (322,392)
Total expenditure	(322,392) (322,392)
Net income	889 889
Net movement in funds	889 889
Reconciliation of funds
Total funds brought forward	65,544 65,544
Total funds carried forward 17	66,433 66,433
Note	Unrestricted Total
	funds 2019
	£ £
Income and Endowments from:
Donations and legacies 3	13,348 13,348
Other trading activities 4	187,769 187,769
Other income 5	48,033 48,033
Total income	249,150 249,150
Expenditure on:
Raisingfunds 6	(225,051) (225,051)
Total expenditure	(225,051) (225,051)
Net income	24,099 24,099
Net movement in funds	24,099 24,099
Reconciliation of funds
Total funds brought forward	41,444 41,444
Total funds carried forward 17	65,543 65,543

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2019 is shown in note 17.

The notes on pages 7 to 16 form an integral part of these financial statements. Page 5

Able 2 Achieve Trust Limited

(Registration number: 07996065) Balance Sheet as at 31 March 2020

Note	2020 2019
	£ £
Fixed assets
Tangible assets 11	- 1
Current assets
Stocks 12	8,378 8,764
Debtors 13	214,580 166,064
Cash at bank and in hand 14	5,489 10,351
	228,447 185,179
Creditors: Amounts falling due within oneyear 15	(162,014) (119,637)
Net currentassets	66,433 65,542
Netassets	66,433 65,543
Funds of the charity:
Unrestricted income funds
Unrestricted funds	66,433 65,543
Total funds 17	66,433 65,543

For the financial year ending 31 March 2020 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 charity to obtain an audit of its accounts for the year in question in accordance with section 476; and

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements on pages 5 to 16 were approved by the trustees, and authorised for issue on 12 March 2021 and signed on their behalf by:

.........................................

R J U Elliott Trustee

The notes on pages 7 to 16 form an integral part of these financial statements. Page 6

Able 2 Achieve Trust Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

1 Charity status

The charity is limited by share capital, incorporated in England.

The address of its registered office is: 23-25 Princes Street Yeovil Somerset BA20 1EN

These financial statements were authorised for issue by the trustees on 12 March 2021.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Able 2 Achieve Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Page 7

Able 2 Achieve Trust Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £100 or more are initially recorded at cost.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off residual value, over their expected useful economic life as follows:	the cost or valuation, less any estimated
Asset class	Depreciation method and rate
Short leasehold	Over the life of the lease on a straight line basis
Planrt and machinery	Over 5 years straight line
Motor vehicles	Over 5 years straight line

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Page 8

Able 2 Achieve Trust Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Foreign exchange

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.

The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).

Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:

1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);

2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and

3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.

Page 9

Able 2 Achieve Trust Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 10

Able 2 Achieve Trust Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 11

Able 2 Achieve Trust Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

Derivative financial instruments

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

• 3 Income from donations and legacies

3 Income from donations and legacies
	Unrestricted
	funds	Total
	General	funds
	£	£
Regulargivingand capital donations	10,030	10,030
Total for 2020	10,030	10,030
Total for 2019	13,348	13,348

• 4 Income from other trading activities

4 Income from other trading activities
	Unrestricted
	funds	Total
	General	funds
	£	£
Trading income;
Sales of goods and services	175,174	175,174
Sponsorshipincome	90,470	90,470
Total for 2020	265,644	265,644
Total for 2019	187,769	187,769

• 5 Other income

Page 12

Able 2 Achieve Trust Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

	Unrestricted
	funds	Total
	General	funds
	£	£
Rental income	47,607	47,607
Total for 2020	47,607	47,607
Total for 2019	48,033	48,033

6 Expenditure on raising funds

Costs of trading activities

a)

a) Costs of trading activities
	Unrestricted funds Total
Note	General funds
	£ £
Costs of goods sold	4,113 4,113
Depreciation, amortisation and other similar costs	2 2
Other direct costs of activities forgeneratingfunds	176,734 176,734
Total for 2020	180,849 180,849
Total for 2019	165,576 165,576
	Total costs £
7 Net incoming/outgoing resources
Net incoming resources for the year include:
	2020 2019
	£ £
Depreciation of fixed assets	2 275
8 Trustees remuneration and expenses
9 Staff costs
The aggregate payroll costs were as follows:
	2020 2019
	£ £
Staff costs during the year were:
Wages and salaries	131,797 50,672

Page 13

Able 2 Achieve Trust Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:

The monthly average number of persons (including senior management the year expressed as full time equivalents was as follows:	team) employed by the charity during
	2020 2019
	No No
Number of staff	11 6

5 (2019 - ) of the above employees participated in the Defined Contribution Pension Schemes.

Contributions to the employee pension schemes for the year totalled £4,113 (2019 - £Nil).

No employee received emoluments of more than £60,000 during the year.

10 Taxation

The charity is a registered charity and is therefore exempt from taxation.

11 Tangible fixed assets

11 Tangible fixed assets
	Land and buildings Furniture and equipment Motor vehicles Total
	£ £ £ £
Cost
At 1 April 2019	8,027 877 500 9,404
At 31 March 2020	8,027 877 500 9,404
Depreciation
At 1 April 2019	8,027 876 500 9,403
Charge for theyear	- 1 - 1
At 31 March 2020	8,027 877 500 9,404
Net book value
At 31 March 2020	- - - -
At 31 March 2019	- 1 - 1

Included within the net book value of land and buildings above is £Nil (2019 - £Nil) in respect of freehold land and buildings and £Nil (2019 - £Nil) in respect of leaseholds.

12 Stock
	2020 2019
	£ £
Stocks	8,378 8,764

Page 14

Able 2 Achieve Trust Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

13 Debtors

13 Debtors
	2020		2019
	£		£
Trade debtors	131,702		115,049
Prepayments	2,874		2,874
Other debtors	80,004		48,141
	214,580		166,064
14 Cash and cash equivalents
	2020		2019
	£		£
Cash on hand	709		471
Cash at bank	4,780		9,880
	5,489		10,351
15 Creditors: amounts falling due within one year
	2020		2019
	£		£
Trade creditors	158,571		117,836
Other taxation and social security	1,643		-
Other creditors	-		(1)
Accruals	1,800		1,802
	162,014		119,637

16 Commitments

Capital commitments

The total amount contracted for but not provided in the financial statements was £66,137 (2019 - £138,922).

17 Funds

17 Funds
	Balance at 1 Incoming Resources Balance at 31
	April 2019 resources expended March 2020
	£ £ £ £
Unrestricted funds
General	65,544 323,281 (322,392) 66,433

Page 15

Able 2 Achieve Trust Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

	Balance at 1	Incoming	Resources	Balance	at 31
	April 2018	resources	expended	March	2019
	£	£	£	£
Unrestricted	funds
General	41,444 249,150		(225,051)		65,543

18 Related party transactions

During the year the charity made the following related party transactions:

Able 2 Achieve Limited

((The sole member of the charity is a limited company, Able 2 Achieve Limited) ) Donations of £nil (£nil), Sponsorship income of £90,470 (2019 £34,271) and rent of £20,500 (2019 £27,100) were received from Able 2 Achieve Limited during the year.

In addition the charity was invoiced by Able 2 Achieve Limited an amount of £19,436 (2019 £8,214) for cafe and shop purchases during the year . At the balance sheet date the amount due from Able 2 Achieve Limited was £75,936 (2019 - £59,433).

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Able 2 Achieve Trust Limited

Detailed Statement of Financial Activities for the Year Ended 31 March 2020

	Total Total
	2020 2019
	£ £
Income and Endowments from:
Donations and legacies (analysed below)	10,030 13,348
Other trading activities (analysed below)	265,644 187,769
Other income(analysed below)	47,607 48,033
Total income	323,281 249,150
Expenditure on:
Raisingfunds(analysed below)	(322,392) (225,051)
Total expenditure	(322,392) (225,051)
Net income	889 24,099
Net movement in funds	889 24,099
Reconciliation of funds
Total funds brought forward	65,544 41,444
Total funds carried forward	66,433 65,543

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Able 2 Achieve Trust Limited

Detailed Statement of Financial Activities for the Year Ended 31 March 2020

	Total Total
	2020 2019
	£ £
Donations and legacies
Committedgiving	10,030 13,348
	10,030 13,348
Other trading activities
Sales of purchased goods	175,174 153,498
Sponsorshipincome	90,470 34,271
	265,644 187,769
Other income
Rental income	47,607 48,033
	47,607 48,033
Raising funds
Wages and salaries	(131,797) (50,672)
Staff pensions (Defined contribution)	(4,113) -
Motor expenses	- 15
Cafe and shop purchases	(51,700) (40,701)
Sundry expenses	(1,601) (2,119)
Independent examination	(350) (300)
Rent and rates	(89,745) (94,941)
Utilities	(14,951) (13,943)
Insurance	(1,656) (1,657)
Repairs and maintenance	(16,731) (11,157)
Advertising	- (498)
Depreciation of plant and machinery	(2) (175)
Depreciation of motor vehicles	- (100)
Legal fees	- (200)
Bank charges	(1,425) (1,282)
Office expenses	(6,571) (5,821)
Accountancy	(1,750) (1,500)
	(322,392) (225,051)

This page does not form part of the statutory financial statements. Page 18