| Trustees' annual report (incorporating the director's report) |
Trustees' annual report (incorporating the director's report) |
|
|---|---|---|
| Independent auditor's report to |
the members | |
| Statement offinancial activities |
(including income and |
|
| expenditure account) |
||
| Statement offinancial position |
||
| Statement ofcash flows | 15 | |
| Notes to the financial statements | ||
| The following pages do not form part ofthe financial statements |
||
| Detailed statement offinancial |
activities | |
| Notes to the detailed statement | offinancial activities | 30 |
| Year ended 31Dece | Year ended 31Dece | Year ended 31Dece | Year ended 31Dece | mber 202 | mber 202 | 0 | 0 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| The trustees, | who are | also the | directors for the purposes | of company | law, present their report and the | |||||||
| financial statements | of | the charity for the year | ended | 31December | 2020. | |||||||
| Reference | and administrative | details | ||||||||||
| Registered | charity | name | LIKCURRICULUM | AND | ACCREDITATION | BODY (UKCAB) | ||||||
| Charity registration | number | 1153197 | ||||||||||
| company | registration | number | 06021439 | |||||||||
| Principal ofhce and | registered | Smithfield House |
||||||||||
| office | Digbeth | |||||||||||
| Birmingham | ||||||||||||
| B56BS | ||||||||||||
| The trustees | ||||||||||||
| Mr Z Bhatti | ||||||||||||
| Ms N Naqvi | ||||||||||||
| Mr N Aamir | ||||||||||||
| Auditor | Turpin Barker Armstrong | |||||||||||
| Chartered Certified |
Accountants | 8 | statutory | auditor | ||||||||
| Allen House | ||||||||||||
| 1 Westmead | Road | |||||||||||
| Sutton | ||||||||||||
| Surrey | ||||||||||||
| SM1 4LA | ||||||||||||
| Bankers | Santander | Bank | ||||||||||
| 182-184High Street | ||||||||||||
| Birmingham B147DJ |
| 2020 | 2020 | 2019 | ||||
|---|---|---|---|---|---|---|
| Unrestricted | ||||||
| funds | Totalfunds | Total funds | ||||
| Note | ||||||
| Income and endowments | ||||||
| Donations and legacies |
5 | 4,630 | 4,630 | 1,198 | ||
| Charitable activities |
6 | 4,767,426 | 4,767,426 | 1,429,250 | ||
| Total income | 4,772,058 | 4,772,058 | 'l,430,448 | |||
| Expenditure | ||||||
| Expenditure on raising funds: Costs of raising donations |
and legacies | ? | 128120 | 128120 | 55208 | |
| Expenditure on charitable |
activities | &,g | 2,602,123 | 2,602,123 | 1,353,220 | |
| Total expenditure | 2,730,243 | 2,730,243 | 1,408,428 | |||
| Net income and net movement | in funds | 2,041,813 | 2,041,813 | 22,020 | ||
| Reconciliation offunds |
||||||
| Total funds brought forward |
352,298 | 352,298 | 330,278 | |||
| Total funds carried forward | 2,394,111 | 2,394,111 | 352,298 |
| 2020 | 2019 | |||
|---|---|---|---|---|
| Note | ||||
| Fixed assets | ||||
| Tangible fixed assets | 14 | M,809 | 72,477 | |
| Current assets | ||||
| Debtors | 15 | 236,176 | 397,017 | |
| Cash at bank and in | hand | 2,258,424 | 77,534 | |
| 2,493,600 | 474,661 | |||
| Creditors: amounts | falling due within one year | 18 | 193,298 | 194,730 |
| Net current assets | 2,300,302 | 279,821 | ||
| Total assets less current. liabilities | 2,394,111 | 352,298 | ||
| Net assets | 2,394,111 | 352,298 | ||
| Funda ofthe charity | ||||
| Unrestricted funds |
2,394,111 | 352,298 | ||
| Total charity funds | 18 | 2,394,111 | 352,298 |
| Year ende | d 31December 2 | 020 | ||
|---|---|---|---|---|
| 2020 | 2019 | |||
| Cash flows from operatjing | activities | |||
| Net income | 2,041,813 | 22,020 | ||
| Adjustments for: |
||||
| Depreciation oftangible fixed assets |
14,769 | 9,712 | ||
| Interest payable and similar | charges | 218 | 251 | |
| Accrued (income)/expenses | (3,305) | 23,206 | ||
| Changes in: | ||||
| Trade and other debtors | 161,841 | (143,774) | ||
| Trade and other creditors | (19,322) | 79,886 | ||
| Cash generated from operations |
2,196,014 | (8,701) | ||
| Interest paid | (218) | (261) | ||
| Net cash from/(used in) operating activities |
2,195,796 | (8,952) | ||
| Cash flows from investing | activities | |||
| Purchase oftangible assets | (36,101) | (25,950) | ||
| Net cash used in investing activities |
(36,'I01) | (26,950) | ||
| Cash flows from financing | activities | |||
| Proceeds from borrowings | 21,195 | |||
| Net cash from financing activities |
21,196 | |||
| Net increase/{decrease) in |
cash and cash | equivalents | 2,180,890 | (34,902) |
| Cash and cash equivalents | at beginning | ofyear | 77,534 | 112,436 |
| Cash and cash equivalents | at end ofyear | 2,258,424 | 77,634 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
|---|---|---|---|---|---|---|---|
| Funds | 2020 f |
Funds | 2019 | ||||
| Donations | |||||||
| Donations | 1,513 | 'l,198 | 1,198 | ||||
| Grants | |||||||
| Grants receivable | 3,117 | 3,117 | |||||
| 4,630 | 4,630 | 1,198 | 1,198 | ||||
| 6. | Charitable | activities | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2020 | Funds | 2019 | ||||
| Providing | technical and voluntary | ||||||
| secondaryeducation | 4,76?,426 | 4,767,426 | 1,429,250 | 1,429,250 | |||
| ?. | Costs ofraising donations | and legacies | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2020 | Funds | 2019 | ||||
| F- | |||||||
| Costs of raising donations | and legacies | ||||||
| -Donations | 128,120 | 128,120 | 55,208 | 55,208 |
| education | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
| Funds | 2020 | Funds | 2019 | |||
| F | E | E | ||||
| Providing technical secondary education Support costs |
and voluntary | 2,572,368 29,755 |
2,572,368 29,755 |
1,313,320 39,900 |
1,313,320 39,900 |
|
| 2,602,123 | 2,602,123 | 1,353,220 | 1,353,220 |
| 9. | Expenditure on charita |
ble a | ctivities by ac | tivity type | ||||
|---|---|---|---|---|---|---|---|---|
| Activities | ||||||||
| undertaken | Total | funds | Total fund | |||||
| directly Support costs | 2020 | 2019 | ||||||
| F | F | |||||||
| Providing technical and secondary education Governance costs |
voluntary 2,572,368 |
29,755 | 2,572,368 29,?55 |
1,313,320 39,900 |
||||
| 2,572,368 | 29,755 | 2,502, 123 | 1,353,220 | |||||
| 10. | Net income | |||||||
| Net income is stated after charging/(crediting): | 2020 | 2019 | ||||||
| Depreciation of tangible Operating lease rentals |
fixed | assets | 14,769 78,000 |
9,712 26,400 |
||||
| 11. | Auditors remuneration |
|||||||
| 2020 | 2019 | |||||||
| F | ||||||||
| Fees payable for the audit of | the financial statements | 18,000 | 15,000 | |||||
| Fees payable tothe charity's auditor and its Audit-related assurance services |
associates for other services: | 6,000 |
| Staffco | sts | |||||||
|---|---|---|---|---|---|---|---|---|
| The total | staff costs | and | employee | benefrts for | the reporting period are analysed as follows; 2020 2019 |
|||
| Wages and salaries | 24,975 | 29,88S | ||||||
| Social security costs | 448 | |||||||
| Employer | contributions | to pension | plans | 84 | ||||
| 25,423 | 29,973 | |||||||
| The average head |
count of employees | duding | the year was 2 (2019:2).The average | number of |
||||
| full-time | equivalent | employees | during the year | is analysed as follows: 2020 |
2019 | |||
| No. | No, | |||||||
| Number | ofstaff | 2 | 2 |
| Tangible fixed assets | |||
|---|---|---|---|
| Fixtures and | |||
| fittings | Equipment | Total | |
| f. | |||
| Cost | |||
| At 1 January 2020 | 93,180 | 12,063 | 105,243 |
| Additions | 36,101 | 36,101 | |
| At 31December 2020 | 129,281 | 12,063 | 141,344 |
| Depreciation | |||
| At 1 January 2020 | 26,S23 | 5,843 | 32,766 |
| Charge for the year | 12,356 | 2,413 | 14,769 |
| At 31December 2020 | 39,279 | 8,256 | 47,535 |
| Carrying amount | |||
| At 31December 2020 | 90,002 | 3,807 | 93,809 |
| At 31 December 2019 | 66,257 | 6,220 | 72,477 |
| Debtors | |||
|---|---|---|---|
| 2020 | 2019 | ||
| Trade debtors | 99,788 | 271,162 | |
| Prepayments | and accrued income | 38,400 | 32,291 |
| Other debtors | 96,988 | 93,564 | |
| 235,176 | 397,017 |
| 2020 | |||
|---|---|---|---|
| K | |||
| Bank loans and overdrafts | 50,000 | ||
| Trade creditors | 88,293 | 107,939 | |
| Accruals and deferred | income | 53,880 | 57,185 |
| Director loan accounts | 801 | 29,606 | |
| Wages and Salaries | 324 | ||
| 193,298 | 194,730 |
| Unrestricted | fund | s | |||||||
|---|---|---|---|---|---|---|---|---|---|
| At | At | ||||||||
| 1 January 202 | 31 | Oecember | |||||||
| 0 | Income | Expenditure | 2020 | ||||||
| F | F | ||||||||
| General funds | 4,772,056 | (2,730,243) | 2,041,813 | ||||||
| Unrestricted | fund | 352,298 | 352,298 | ||||||
| 352,298 | 4,772,056 | (2,730,243) | 2,394,111 | ||||||
| At | At | ||||||||
| 1 January 201 | 31 | December | |||||||
| 9 | Income | Expenditure | 2019 | ||||||
| F | |||||||||
| General funds | 1,430,448 | (1,408,428) | 22,020 | ||||||
| Unrestricted | fund | 330,278 | 330,278 | ||||||
| 330,278 | 1,430,448 | (1,408,428) | 352,298 | ||||||
| 19. | Analysis of | net assets between funds | |||||||
| Unrestricted | Total Funds | ||||||||
| Funds | 2020 | ||||||||
| Tangible fixed assets | 68,570 | 68,570 | |||||||
| Current assets | 2,495,404 | 2,495,404 | |||||||
| Creditors less than | 1 | year | (172,224) | (172,224) | |||||
| Net assets | 2,391,750 | 2,391,750 | |||||||
| Unrestricted | Total Funds | ||||||||
| Funds | 20'I9 | ||||||||
| F | F | ||||||||
| Tangible fixed assets | 72,477 | 72,477 | |||||||
| Current assets | 458,916 | 458,916 | |||||||
| Creditors less than | 1 | year | (140,695) | (140,695) | |||||
| Net assets | 390,698 | 390,698 | |||||||
| 20. | Analysis of | changes | in net debt | ||||||
| At | |||||||||
| At 'I Jan 2020 | Cash flows | 31 | Dec 2020 | ||||||
| F | |||||||||
| Cash at bank | and in hand | 77,534 | 2,180,890 | 2,258,424 | |||||
| Debt due within one year | (29,606) | (21,195) | (50,801) | ||||||
| 47,928 | 2,159,695 | 2,207,623 |
| Operating lea |
se commit | ments | |||
|---|---|---|---|---|---|
| The total future | minimum | lease payments | under non-cancellable | operating leases are as follows: 2020 2019 |
|
| f. | |||||
| Not later than 1 year Later than 1 year and not |
later than 5 years | 60,968 120,528 |
51,716 25?,915 |
||
| 181,496 | 309,631 |
| Related parbes | |||||
|---|---|---|---|---|---|
| During the year the charity | entered into the following transactions with |
related parties: Balance owed |
byl(owed | ||
| Transaction | value | to) | |||
| 2020 | 2019 | 2020 | 2019 | ||
| Mr A Bhatti - Commission | payable | 25,Q33 | 35,200 | (29,967) | |
| Matrix Solutions international Limited- |
|||||
| Recharge for share offees from | |||||
| contracts with Eurosource | and | ||||
| Innolearn | 154,423 | ||||
| Matrix Solutions International Limited- |
|||||
| Purchase ofservices | (2,034,700) | (1,060,279) | (60,550) | (74,973) | |
| Matrix Solutens international Lirnited- |
|||||
| Fees charges for student | recruitment | ||||
| and marketing consultancy Syeda Naqvi -Current account Zahid Bhatti- Debtor |
25,000 | (801) 5,025 |
(29,606) | ||
| Global Kidney Foundation to charitable project |
- Donations | 60,620 | 44,408 | ||
| Feedo Needo- Donations | to charitable | ||||
| prolect | 50,500 | 10,800 |
| 2020f | 2019 | |||
|---|---|---|---|---|
| Income and endowments | ||||
| Donations and legacies Donations |
1,513 | 1,198 | ||
| Grants receivable | 3,117 | |||
| 4,630 | 1,198 | |||
| Charitable activities |
||||
| Providing technical and voluntary |
secondary | education | 4,767,426 | 1,429,250 |
| Total income | 4.772.086 | 1,480,448 |
| Year ended 31 Decemb | er 2020 | ||
|---|---|---|---|
| 2020 | 2019 | ||
| Expenditure Costs of raising donations Purchases |
and legacies | 128,120 | 88,208 |
| Expenditure on charitable Purchases Wages and salaries |
activities | 2,108,042 24,975 448 |
1,163,101 29,889 |
| Employer's NlC |
84 | ||
| Pension casts Operating leases Rent Rates and water Light and heat Repairs and maintenance insurance Other establishment Vehicle leasing/hire |
78,000 97,474 9,855 10,971 156,177 1,518 |
26,400 (8,971) 852 5,134 54,139 1,484 1,500 8,875 181 |
|
| Other motor/travel costs Legal and professional fees Telephone Other office costs Depreciation interest on bank loans and overdrafts Computer expenses Printing, postage and stationery Sundry expenses |
29,755 12,613 42,984 14,768 218 13,137 1,188 |
39,900 9,652 2,133 9,713 251 3,138 5,707 'l58 |
|
| 2,602,123 | 1,353,220 | ||
| Total expenditure | 2,730,243 | 1,408,428 | |
| Net income | 2,041,813 | 22,020 |
| 2020 | 2019 | ||||||
|---|---|---|---|---|---|---|---|
| Costs ofraising donations | and legacies | ||||||
| Costs ofraising donatione | and legacies - Donations | ||||||
| Donations - purchases | 128,120 | 55,208 | |||||
| Costs ofraising donations | and legacies | 128,120 | 55,208 | ||||
| Expenditure on charitable |
activities | ||||||
| Providing technical and voluntary |
secondary | education | |||||
| Activities undertaken | directiy | ||||||
| Cost ofservices | 2,108,042 | 1,163,101 | |||||
| Wages and salaries | 24,975 | 29,889 | |||||
| Employer's NIC |
448 | ||||||
| Pension costs | 84 | ||||||
| Property management | fees | 78,000 | 26,400 | ||||
| Rent and service charges | 97,474 | (8,971) | |||||
| Rates 8 water | 9,855 | 852 | |||||
| Light 8 heat | 10,971 | 5,134 | |||||
| Repairs 8 maintenance | 156,177 | 54,139 | |||||
| insurance | 1,5'l8 | 1,484 | |||||
| Staff training and development |
1,500 | ||||||
| Vehicle leasing | 8,875 | ||||||
| Travel costs | 181 | ||||||
| Teiephone | 12,613 | 9,552 | |||||
| Marketing and advertising |
42,984 | 2,133 | |||||
| Depreciation | 14,768 | 9,713 | |||||
| Interest on bank ioans | and | overdrafts | 218 | 251 | |||
| Computer expenses | 13,137 | 3,138 | |||||
| Stationery and postage |
5,707 | ||||||
| Sundry expenses | 1,188 | 158 | |||||
| 2,572,368 | 1,313,320 | ||||||
| Governance costs | |||||||
| Governance costs - accountancy fees |
4,180 | 18,200 | |||||
| Governance costs - audit fees |
18,000 | 2'f,660 | |||||
| Governance costs - legal and | other professional | fees | 7,575 | 40 | |||
| 29,755 | 39,900 | ||||||
| Expenditure on charitable |
activities | 2,602,123 | 1,353,220 |