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2021-01-31-accounts

Registered Charity no. 1155010 Registered Company no. 08370409

MathsWorldUK (Company Limited by Guarantee)

Trustees Annual Report and Accounts

Year Ended 31st January 2021

MathsWorldUK

Year Ended 31st January 2021

Contents Page

Page
Legal and Administrative Information 1
Trustees Annual Report 2
Independent Examiners Report 7
Statement of Financial Activities and Income 8
and Expenditure Account
Statement of Financial Position 9
Notes to the Financial Statements 10

MathsWorldUK

Year Ended 31st January 2021

Legal and Administrative Information

Reference

The Charity is called “MathsWorldUK” (referred to in parts of the report as "MWUK") and is registered with the Charity Commission for England and Wales as an Incorporated Association limited by guarantee .

Registered Charity Number 1155010 Registered Company Number 08370409 Registered Office Stringer House 34 Lupton Street Leeds LS10 2QW

Website

www.mathsworlduk.com

The Trustees and Directors

Pro Margaret Brown Appointed 22/01/2013 Dr Christian Yates Appointed 22/01/2013 Geoffrey Wain (Chair) Appointed 22/01/2013 Dr Jack Abramsky Appointed 22/02/2014 Pro Thomas Ward Appointed 01/09/2020 Dr Roger Fisken Appointed 06/11/2017

Chief Executive Officer Dr Katie Chicot

Primary Bankers

Independent Examiner:

HSBC UK 1 Centenary Square Birmingham B1 1HQ United Kingdom Nigel Wyatt BSC FCA Wyatt & Co Chartered Accountants 125 Main Street Garforth Leeds LS25 1AF

1

MathsWorldUK

Year Ended 31st January 2021

Trustees Annual Report

The trustees present their report and financial statements for the year ended 31 January 2021.

Objectives and activities

The charity's objectives are to advance the education of the public in mathematics. We aim to achieve this, ultimately, through the creation of the UK’s first visitor attraction inviting young people and their families to discover the joy and power of mathematics through hands-on experiments and challenges.

In practice our work involves creating engaging and accessible exhibitions and collections of mathematics interactives that tour to science festivals and other public venues, sparking excitement, curiosity and engagement with the wonders of maths. We deliver playful workshops and activities exploring exciting mathematical topics. Alongside these outreach activities we are furthering our main mission by raising our public profile and building the business case for a national Mathematics Discovery Centre.

We seek for all, regardless of age, background or ability, to see the beauty, ingenuity, applicability and importance of Mathematics in human culture, thought and endeavour.

Public benefit

MathsWorldUK works for the benefit of the general public by building a greater appreciation of and interest in mathematics.

Mathematics is increasingly important across many disciplines: science, medicine, engineering, technology, finance, economics and more. It is a fundamental tool enabling us to analyse and comprehend the world around us, and to solve some of the most urgent problems facing society in today’s complex world. This has been brought into sharp focus during the Covid-19 pandemic.

Maths brings together essential skills - in reasoning, creativity, abstract and spatial thinking, critical thinking and problem-solving - that enable us to participate fully in society and to build fulfilling and resilient lives. The negative economic, social and health and wellbeing impacts of poor maths skills in adult life are well evidenced, yet the mathematics skills gap in the UK continues to grow.

We aim that our activities, and ultimately the creation of the Mathematics Discovery Centre, should improve national attitudes towards Mathematics and so contribute significantly to increasing the proportion and diversity of young people engaging confidently with mathematics and choosing to continue with mathematical study in further and higher education beyond age 16 and into college and university.

The trustees have referred to the Charity Commission’s guidance on public benefit in agreeing the charity’s aims and objectives and in planning its future activities.

Who engaged with and benefited from our activities?

For the majority of the reporting period the country was in lockdown. Between 1st Feb and the start of lockdown we engaged 1500+ people face to face (a range of adults, and families with children) at Leeds Science Festival (March 2020) and International Mathematics Day at the Science and Media Museum in Bradford (March 2020).

2

MathsWorldUK

Year Ended 31st January 2021

Trustees Annual Report

At start of the reporting year, in February, we were putting the finishing touches to our first touring exhibition ‘Explore Maths’. We installed exhibits in readiness for an March launch in Winchester Science Centre (WSC), ran a training event with the staff and prepared accompanying materials for teachers and families. In the event, owing to the Covid-19 crisis, Winchester Science Centre closed its doors in March, as did attractions across the country Lockdown was much longer than all had anticipated, clearly putting the rest of our planned tour under threat.

In response to a rapidly evolving situation, we reconfigured our activity to produce a series of videos to support people schooling children at home: these were also designed to appeal to a general audience. ‘Maths at Home’ on MWUK’s YouTube channel featured leading figures in mathematics communication such as:

We created a second series of videos ‘Maths of Pandemics’ on our channel to bring clarity to areas in which the public was hungry for more information and greater understanding. These videos each reach hundreds of people with the most viewed reaching an audience of over 4000.

In addition, MathsWorldUK delivered online enrichment activities with various partners: Dr Chicot delivered online interactive code breaking workshops for Maths Week Scotland and the Advanced Maths Support Programme, reaching a combined audience of 150.

As the year progressed it became ever clearer that the impact of the Covid crisis would continue to be felt for many months to come. Thanks to the generosity of the many funders supporting the development of Explore Maths, we had created a series of engaging, high-quality exhibits and activities – yet the tour could evidently not proceed as planned. At the same time, children and young people across the country were missing out on vital, quality learning time, as schools closed and teaching moved online.

We decided to change our plans so as to put our resources and assets to the most effective use. We resolved to work towards opening a first, stand-alone maths space as soon as possible, where children and families might enjoy and explore the exhibits and environments created for Explore Maths in a venue managed by MathsWorld UK itself, independently of the host venues needed for a UK tour. The ideal space would be in a high-footfall city centre area, easily accessed by public transport. Creating a second ‘zone’ of exhibits to complement Explore Maths would ensure enough exciting content to absorb and occupy visitors for a couple of hours at a time – a full and engaging experience in its own right.

3

MathsWorldUK

Year Ended 31st January 2021

Trustees Annual Report

As our financial year came to a close in January, clearly defined plans were in place for this new experience: MathsCity. The venue chosen for MathsCity is Leeds, where we will address a clear gap in informal STEM learning. January saw new exhibits and experiences being developed, on the theme of shape and space, to add to the content previously developed. Partners across the city responded with enthusiasm and generosity and by the end of January we were exploring a series of prime city centre sites, where MathsCity could open to the public in September 2021 as part of Leeds International Festival. MathsCity will bring multiple benefits to the city of Leeds and to its people, drawing children and families into the heart of the city to enjoy a series of inspiring, informal learning experiences at a time when the need for such experiences is greater than ever.

We are enormously grateful to our many funders and supporters, who have extended their support for our plans and reaffirmed their commitment to MathsWorldUK throughout this period.

Achievements and performance

Key achievements in the year included:

4

MathsWorldUK

Year Ended 31st January 2021

Trustees Annual Report

Our priorities for the coming year are:

  1. Open MathsCity in Leeds to offer inspiring and engaging maths experiences for visitors of all ages and backgrounds.

  2. Develop the business plan for the Mathematics Discovery Centre and secure new funding towards the early stages of project development and design.

  3. Review and strengthen the Board’s expertise and organisational structures and capacity in order to ensure MWUK is ready to manage the next stage of the delivery of MathsCity and the Mathematics Discovery Centre

  4. Continue to engage the public in surprising and engaging Mathematics at fairs, schools, and other public venues, wherever possible.

  5. Increase focus on audiences in the vicinity of Leeds and build partnerships with local stakeholders.

Financial review

The financial transactions of the charity during the year and the position at the end of the year are set out in the attached accounts.

MathsWorldUK receives no ongoing core public subsidy and relies on project grants and donations to deliver its activities.

The year ending January 2021 was one of great upheaval for many organisations. MathsWorldUK was protected from the worst of this as the charity does not currently rely on income generated from its activities, but on grant funding. Core costs are minimized as staff are employed on a freelance and secondment basis and we were able to support freelance contributors by changing the focus of their activity to online delivery and content development for MathsCity. Given the restrictions imposed on our activities by the pandemic, the Open University agreed to waive a large part of the fees previously agreed for the secondment of the CEO and these costs were accordingly much reduced.

In addition to the contributions shown in the financial statements MWUK received valuable in-kind support from the University of Leeds, in the form of staff time given to public engagement and outreach activity, and fundraising support. The charity also benefited from the support of individual volunteers helping to deliver its outreach programmes and contributing ideas and expertise to the development of content for Explore Maths and subsequent themes.

5

MathsWorldUK

Year Ended 31st January 2021

Trustees Annual Report

Costs incurred in 2020/21 related mainly to staffing, outreach activity and development costs for MathsCity. A total of £37,417 spent in the year on new exhibits for MathsCity is additional to the costs shown in the financial statements under charitable activity expenditure: as capital assets these are shown as additions to the fixed assets.

In the coming year fundraising will focus on the continued development of special exhibitions and on development activity for the Mathematics Discovery Centre.

Reserves policy

The Trustees have agreed that MWUK should aim to build up its reserve to the level of 6 months of its ongoing expenditure. The charity ended the year with £37,192 in free reserves, an increase on the sum of £28,472 held the previous year, reflecting the need to build our reserves substantially as the scale of operations grows through MathsCity.

Structure, governance and management

MathsWorld UK is a company limited by guarantee (no. 1155010), formed on 22 January 2013. It was registered as a charity in November 2013.

The trustees, who are also the directors for the purpose of company law and who served during the year are listed on p. 1. None of the trustees has any beneficial interest in the company. All the Trustees are members of the company and the liability of the members in the event of the company being wound up is limited to a sum not exceeding £1.

Membership of the Board is regularly reviewed to ensure the right balance of skills and expertise. New Trustees will be recruited in the coming year in preparation for increased activity relating to the development of the Mathematics Discovery Centre.

The charity is led by the Executive Committee which meets every month and is overseen by the Board of Trustees, meeting twice a year. Day to day management of the organisation is delegated to the CEO, who has an active role in delivering outreach activity alongside a small team of volunteers, while leading development work and fundraising for the Mathematics Discovery Centre.

Approved by the Trustees of Mathsworld UK

Name of director: Geoffrey Wain ─────────────────────────────────────────────────── Signed on behalf of the directors: ─────────────────────────────────────────────────── Date of approval: 22/04/2021 ───────────────────────────────────────────────────

6

MathsWorldUK

Year Ended 31st January 2021

Independent Examiners Report

I report to the trustees on my examination of the financial statements of MathsWorldUK ('the charity') for the year ended 31 January 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Nigel Wyatt BSC FCA Date: 29/04/2021 Independent Examiner 125 Main Street Garforth Leeds LS25 1AF

7

MathsWorldUK

Year Ended 31st January 2021

Statement of Financial Activities and Income and Expenditure Account

2021 2020
Unrestricted Restricted Total
Funds Funds Funds Total funds
Note £ £ £ £
Income
Donations and legacies 6,816 38,000 44,816 148,514
Activities for generating income 2 3,084 - 3,084 -
Investment Income 35 - 35 92
────────── ────────── ──────────
──────────
Total income 9,935 38,000 47,935 148,606
────────── ────────── ──────────
──────────
Expenditure
Expenditure on charitable activities 3 80 50,263 50,343 71,221
Cost of Generating Funds 4 - 8,771 8,771 16,810
Governance Costs 5 1,135 - 1,135 1,169
────────── ────────── ──────────
──────────
Total expenditure 1,215 59,034 60,249 89,201
────────── ────────── ──────────
──────────
────────── ────────── ──────────
──────────
Net income and net movement in funds 8,720 (21,034) (12,314) 59,406
────────── ────────── ──────────
──────────
Net income and net movement in funds
Total funds brought forward 16 28,472 110,446 138,918 13,408
Transfers 16 - - - -
────────── ────────── ──────────
──────────
Total funds carried forward 16 37,192 89,412 126,604 72,814
────────── ────────── ──────────
──────────

All income and expenditure derive from continuing activities.

The statement is a combined Statement of Financial Activities and Income and Expenditure Account for the purposes of meeting both companies act and charity SORP reporting requirements.

8

MathsWorldUK

Year Ended 31st January 2021

Statement of Financial Position

Statement of Financial Position
2021 2020
Note £ £
Fixed assets
Tangible fixed assets 12 50,010 37,543
Intangible Fixed Assets 13 - 601
────────── ──────────
50,010 38,144
Current assets
Debtors 14 - 2,261
Cash at bank and in hand 78,247 105,155
────────── ──────────
78,247 107,416
Creditors: amounts falling due within one year 15 1,653 6,642
────────── ──────────
Net current assets 76,594 100,774
────────── ──────────
Total assets less current liabilities 126,604 138,918
────────── ──────────
Net assets 17 126,604 138,918
────────── ──────────
Funds of the charity
Restricted funds 16 89,412 110,446
Unrestricted funds 16 37,192 28,472
────────── ──────────
Total charity funds 16 126,604 138,918
────────── ──────────

Directors Responsibilities

The Directors are satisfied that for the year ended on 31st January 2021 the charitable company was entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that no member or members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. However, in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner.

The Directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 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 and with FRS 102 (effective January 2015).

Name of director: Geoffrey Wain

───────────────────────────────────────────────────

Signed on behalf of the directors:

───────────────────────────────────────────────────

Date of approval:

22/04/2021

───────────────────────────────────────────────────

9

MathsWorldUK

Year Ended 31st January 2021

Notes to the Financial Statements

1 Accounting Policies

Basis of Preparation

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities Financial Reporting Standards applicable in the UK and Republic of Ireland (Charities SORP 2019 FRS 102) and the Charities Act 2011.

Assessment of Going Concern

Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

Fund Accounting

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have set aside resources for a specific purpose.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or the term of specific appeal.

Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

Incoming Resources

All incoming resources are recognised once the charity has entitlement to the resources, it is probable that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability.

• All voluntary income is recognised as donations and is included in full, with associated Gift Aid receivable in the Statement of Financial Activities.

• Grants where entitlement is not conditional on the delivery of specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant.

• Income resources from charitable trading activities such as Mathematics experiences and activities are accounted for when invoices are drawn up (as the point of entitlement).

• Donated services and facilities are included at the value to the charity where this can be quantified.

• Gifts in Kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.

• Volunteer time, the value of voluntary support for the work of the Charity is not included in the accounts but is described in the notes to the accounts.

• Investment Income is included in the accounts when receivable.

10

MathsWorldUK

Year Ended 31st January 2021

Notes to the Financial Statements

Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.

Governance Costs

Include costs of the preparation and examination of statutory accounts, the costs of the trustees' meetings and cost of any legal advice to trustees on governance or constitutional matters.

Liability Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Tangible fixed assets

All assets are capitalised and at historic cost. Fixed assets are stated at cost less accumulated depreciation. Depreciation is charged on furniture and equipment which is written off on a straight-line basis over the estimated useful lifetime of the asset.

Equipment

Between 5 and 10 years Straight line

Intangible fixed assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Trade Marks

5 Years Straight Line

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MathsWorldUK

Year Ended 31st January 2021

Notes to the Financial Statements

Operating Leases

Rental charges payable under operating leases are charged on a straight line basis over the terms of the lease.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Legal Status of the Charity

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

12

MathsWorldUK

Year Ended 31st January 2021

Notes to the Financial Statements

**2 ** Analysis of Income
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Donations and legacies
Donations & Gift Aid 6,816 - 6,816
Grants - 38,000 38,000
────────── ──────────
──────────
6,816 38,000 44,816
Activities for generating income
Mathematics experiences and activities 3,084 - 3,084
────────── ──────────
──────────
3,084 - 3,084
Investment Income
Bank Interest 35 - 35
────────── ──────────
──────────
35 - 35
────────── ──────────
──────────
Total Income 9,935 38,000 47,935
────────── ──────────
──────────
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Donations and legacies
Donations & Gift Aid 20,090 - 20,090
Grants - 128,424 128,424
────────── ──────────
──────────
20,090 128,424 148,514
Activities for generating income
Mathematics experiences and activities 5,554 - 5,554
────────── ──────────
──────────
5,554 - 5,554
Investment Income
Bank Interest 92 - 92
────────── ──────────
──────────
92 - 92
────────── ──────────
──────────
Total Income 25,736 128,424 154,160
────────── ──────────
──────────

13

MathsWorldUK

Year Ended 31st January 2021

Notes to the Financial Statements

**3 ** Expenditure on charitable activities by fund type
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Advertisement Costs - - -
Administration Costs 13 - 13
Bad Debt - - -
Bank Charges 67 - 67
Exhibition Asset Depreciation - 24,949 24,949
Trade Mark Amortization - 601 601
Feasibility Study Costs (Mathematics Discovery Centre) - 6,600 6,600
Public Engagements - 627 627
Staff Secondment Costs - 7,771 7,771
Touring Exhibition Costs - 9,715 9,715
Travel and Subsistence - - -
Website - - -
────────── ──────────
──────────
80 50,263 50,343
────────── ──────────
──────────
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Advertisement Costs - - -
Administration Costs 26 - 26
Bad Debt 213 - 213
Bank Charges 78 - 78
Exhibition Asset Depreciation - 8,025 8,025
Trade Mark Amortization - 5 5
Public Engagements - 5,060 5,060
Feasibility Study Costs (Mathematics Discovery Centre) - - -
Staff Secondment Costs - 50,431 50,431
Touring Exhibition Costs - 4,280 4,280
Travel and Subsistence - 3,040 3,040
Website 62 - 62
────────── ──────────
──────────
379 70,842 71,221
────────── ──────────
──────────

14

MathsWorldUK

Year Ended 31st January 2021

Notes to the Financial Statements

Capital Expenditure Incurred

Due to the way capital assets are accounted for under the charity's SORP FRS102 the assets purchased during the year are not captured with charitable activity expenditure. They are shown as additions with the fixed asset note. The value of the assets are written down as expenditure against the fund they were purchased from as deprecation over the useful life of the asset. The following table outlines the assets purchased and the deprecation which has been changed to the relevant fund.

2021 2020
£ £
Exhibition Equipment Purchased 37,417 35,654
Depreciation Change 24,949 8,025
**4 ** Cost of Generating Funds
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Staff Secondment Costs - 4,371 4,371
Fundraising Support Costs - 4,400 4,400
────────── ──────────
──────────
- 8,771 8,771
────────── ──────────
──────────
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Staff Secondment Costs - 16,810 16,810
Fundraising Support Costs - - -
────────── ──────────
──────────
- 16,810 16,810
────────── ──────────
──────────

15

MathsWorldUK

Year Ended 31st January 2021

Notes to the Financial Statements

5 Governance Costs

Governance Costs
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Insurance Costs 600 - 600
Legal & Professional Fees 535 - 535
────────── ──────────
──────────
1,135 - 1,135
────────── ──────────
──────────
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Insurance Costs 629 - 629
Legal & Professional Fees 540 - 540
────────── ──────────
──────────
1,169 - 1,169
────────── ──────────
──────────

6 Cost Allocation

Staff secondment cost have been split between Charitable Activities and the Cost of Generating Funds based on the time spent undertaking each type of activity. During the financial year this was roughly 75%Charitable Activities and 25% Cost of Generating Funds.

7 Volunteers

Outside of the executive committee, trustees and directors who are all volunteers, the charity has a body of volunteers who help run and facilitate the festivals and exhibitions. More details can be found in the trustees' report in relation to volunteers who support the charity. It is estimated that the charity has benefited from volunteered time worth around £20,000.

8 Donated gifts and services

During the year the charity received a gift in kind covering the organisation's insurance costs. The estimated benefit received from the gift in kind amounted to £600. This is included as a donation and an expense within the accounts in line with the charity's SORP recognition criteria.

9 Independent examination fees

Fees payable to the independent examiner for:

Independent examination fees
Fees payable to the independent examiner for:
2021 2020
£ £
Independent examination and preparation of the financial
statements		 550 550

10 Staff costs

The charity has not incurred any staff costs during the year. The Chief Executive Officer provides services to the charity on a secondment agreement with The Open University. This arrangement was also in place during the year ending 2020.

16

MathsWorldUK

Year Ended 31st January 2021

Notes to the Financial Statements

Key Management Personnel

The charity considers its key management personnel to be the CEO. Due to the secondment arrangement there is no employee benefit to disclosure. This arrangement was also in place during the year ending 2020. During the year substantial proportion of the secondment fees were waived because of limitations on activity resulting from the pandemic

11 Trustee expenses

During the year no trustees (2020: 1) incurred out of pocket expenses which were incurred in the ordinary running of the charity for travel. The total for last year was £231.

None of the trustees has been paid any remuneration or received any other benefits from an employment with their charity or a related entity.

12 Tangible fixed assets

Exhibition
Equipment Total
£ £
Cost
At 1 February 2020 55,865 55,865
Additions 37,417 37,417
────────── ──────────
93,282 93,282
────────── ──────────
Depreciation
At 1 February 2020 18,322 18,322
Charge for this year 24,949 24,949
────────── ──────────
43,271 43,271
────────── ──────────
Carrying amount
At 31 January 2021 50,010 50,010
────────── ──────────
At 31 January 2020 37,543 37,543
────────── ──────────

17

MathsWorldUK

Year Ended 31st January 2021

Notes to the Financial Statements

13 Intangible Fixed Assets

Trade Marks Total
£ £
Cost
At 1 February 2020 606 606
Additions - -
────────── ──────────
606 606
────────── ──────────
Depreciation
At 1 February 2020 5 5
Charge for this year 601 601
────────── ──────────
606 606
────────── ──────────
Carrying amount
At 31 January 2021 - -
────────── ──────────
At 31 January 2020 601 601
────────── ──────────

An impairment review of the trade mark value held by the organisation has taken place during the year. On the back of the remaining value brought forward from the prior year has been fully amortized.

14 Debtors

2021 2020
£ £
Trade Debtors - -
Accrued Income - 2,261
────────── ──────────
- 2,261
────────── ──────────
**15 ** Creditors: amounts falling due within one year
2021 2020
£ £
Accruals 1,653 6,642
────────── ──────────
1,653 6,642
────────── ──────────

18

MathsWorldUK

Year Ended 31st January 2021

Notes to the Financial Statements

16 Analysis of Charitable Funds

Unrestricted Funds
1 Feb 2020 Income Expenditure Transfers 31 Jan 2021
£ £ £ £ £
Unrestricted
General funds 28,472 9,935 (1,215) - 37,192
────────── ────────── ────────── ────────── ──────────
Total 28,472 9,935 (1,215) - 37,192
────────── ────────── ────────── ────────── ──────────
Restricted Funds
1 Feb 2020 Income Expenditure Transfers 31 Jan 2021
£ £ £ £ £
Mathenaeum - CEO Secondment
38,438 18,000 (12,142) - 44,296
Touring Exhibition 72,008 20,000 (46,893) - 45,115
────────── ────────── ────────── ────────── ──────────
110,446 38,000 (59,034) - 89,412
────────── ────────── ────────── ────────── ──────────
Unrestricted Funds
1 Feb 2019 Income Expenditure Transfers 31 Jan 2020
£ £ £ £ £
Unrestricted
General funds 4,285 25,736 (1,549) - 28,472
────────── ────────── ────────── ────────── ──────────
Total 4,285 25,736 (1,549) - 28,472
────────── ────────── ────────── ────────── ──────────
Restricted Funds
1 Feb 2019 Income Expenditure Transfers 31 Jan 2020
£ £ £ £ £
Mathenaeum - CEO Secondment
59,760 41,446 (62,768) - 38,438
Touring Exhibition 9,914 86,978 (24,884) - 72,008
────────── ────────── ────────── ────────── ──────────
69,674 128,424 (87,652) - 110,446
────────── ────────── ────────── ────────── ──────────

19

MathsWorldUK

Year Ended 31st January 2021

Notes to the Financial Statements

Fund Descriptions

Mathenaeum - CEO Secondment

Restricted fund to cover the secondment costs of the Chief Executive Officer of the charity.

Touring Exhibition

The exhibition called "Explore Maths" is a stand-alone exhibition originally developed for the purposes of touring throughout the UK and which is being repurposed to create MathsCity. The funds received are to cover the costs associated with running of the exhibition and the equipment needed. Please note the following funders who have contributed to the fund during the year.

2021 2020
£ £
Actuarial Society - 10,000
Association of Information Technology Trust - 38,100
Chrysalis Trust - 4,000
Centre for Inovation 18,000 -
Keswick Enterprises Holdings Charitable Trust - 4,000
London Maths Society - 10,000
University of Leeds 2,000 -
Mathenaeum - 10,770
Momath - 8,108
Thriplow Charitable Trust - 2,000
────────── ──────────
20,000 86,978
────────── ──────────

17 Analysis of net assets between funds

Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Fixed Assets - 50,010 50,010
Current Assets 38,845 39,402 78,247
Creditors less than 1 year (1,653) - (1,653)
────────── ──────────
──────────
37,192 89,412 126,604
────────── ──────────
──────────
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Fixed Assets - 38,144 38,144
Current Assets 35,114 72,302 107,416
Creditors less than 1 year (6,642) - (6,642)
────────── ──────────
──────────
28,472 110,446 138,918
────────── ──────────
──────────

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MathsWorldUK

Year Ended 31st January 2021

Notes to the Financial Statements

18 Events after the Reporting Period

After the year end a non-adjusting post balance sheet event took place. In January 2021, the UK was put under a further lockdown by the government due to the spread of the Covid-19 virus. It has not been possible to reliably estimate the financial impact of the ongoing lockdown measures in place from the pandemic.

During this time MathsWorldUk has continued to provide online enrichment activities with various partners.

19 Related Parties

There were no related party transactions that took place during the year.

21