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2022-03-31-accounts

REGISTERED COMPANY NUMBER: 07591915 (England and Wales) REGISTERED CHARITY NUMBER: 1158624

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2022

for

Crescent Educational Trust Limited Trading as The Fig Tree

M Ahmed & Co Chartered Accountants 83 Park Road Chilwell Nottingham NG9 4DE

Crescent Educational Trust Limited Trading as The Fig Tree

Contents of the Financial Statements for the Year Ended 31 March 2022

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5 to 6
Notes to the Financial Statements 7 to 12
Detailed Statement of Financial Activities 13 to 14

Crescent Educational Trust Limited Trading as The Fig Tree

Report of the Trustees for the Year Ended 31 March 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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 2019).

OBJECTIVES AND ACTIVITIES Objectives and aims

The principal activity of the charity is that of a school.

The DFES registration number is 8926013.

FINANCIAL REVIEW

Financial position

The financial position is shown in the Statement of Financial Activities. Total income of £256,527 (2021-22 - £232,173) was less than last year due to the effects of Covid-19. Costs of £249,790 (2021-22 - £216,104) were well managed resulting is a surplus for the year of £6,737 to contribute towards capital expenditure and reserves.

Principal funding sources

The Charity does not have any endowments or investments.

The main sources of funds are grants from Nottingham City Council and local organisations, fees from students and donations from local residents and organisations.

Investment policy and objectives

The Charity has not been able to generate any reserves.

Reserves policy

Trustees are aware of the need to maintain reserves of around six months of regular expenditure but it has not been possible to generate such reserves at the moment.

Going concern

The Charity is wholly dependent on fees collected from students, grants from Nottingham City Council and local organisations and donations from local residents. It has small cumulative reserves but has generated a surplus this year. Covid-19 continues to put pressure on funding from fees and other activities but the trustee directors believe that funds will be secured to continue to operate for the foreseeable future. Accordingly, the accounts have been prepared on a going concern basis.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity's governing document is the Memorandum and Articles incorporated on 5 April 2011 as amended by special resolution registered at Companies House on 30 August 2014.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07591915 (England and Wales)

Page 1

Crescent Educational Trust Limited Trading as The Fig Tree

Report of the Trustees for the Year Ended 31 March 2022

Registered Charity number

1158624

Registered office

30 Bentinck Road Nottingham NG7 4AF

Trustees

Mr Atif Hussain Director & Teacher Dr Musharraf Hussain Chief Imam and CEO Ms Nusrat Parveen Director

Company Secretary

Ms Nusrat Parveen

Independent Examiner

M Ahmed & Co Chartered Accountants 83 Park Road Chilwell Nottingham NG9 4DE

Approved by order of the board of trustees on 23 December 2022 and signed on its behalf by:

Mr Atif Hussain - Trustee

Page 2

Independent Examiner's Report to the Trustees of Crescent Educational Trust Limited

Independent examiner's report to the trustees of Crescent Educational Trust Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity's trustees of the Company (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 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 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 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 ACA 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 the Company 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.

Maqbool Ahmed ACA M Ahmed & Co Chartered Accountants 83 Park Road Chilwell Nottingham NG9 4DE

23 December 2022

Page 3

Crescent Educational Trust Limited Trading as The Fig Tree

Statement of Financial Activities for the Year Ended 31 March 2022

31.3.22
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
124,254
Charitable activities
Fees
117,768
Other trading activities
2
14,505
Total
256,527
EXPENDITURE ON
Charitable activities
Educational activities
244,855
Other
4,935
Total
249,790
NET INCOME
6,737
RECONCILIATION OF FUNDS
Total funds brought forward
16,910
TOTAL FUNDS CARRIED FORWARD
23,647		 31.3.21
Total
funds
£
166,323
60,812
5,038
232,173
212,128
3,976
216,104
16,069
841
16,910

The notes form part of these financial statements

Page 4

Crescent Educational Trust Limited Trading as The Fig Tree

Balance Sheet 31 March 2022

31.3.22 31.3.21
Unrestricted Total
fund funds
Notes £ £
FIXED ASSETS
Tangible assets 8 4,283 2,077
CURRENT ASSETS
Debtors 9 1,888 1,935
Cash at bank 27,503 18,063
29,391 19,998
CREDITORS
Amounts falling due within one year 10 (10,027) (5,165)
NET CURRENT ASSETS 19,364 14,833
TOTAL ASSETS LESS CURRENT
LIABILITIES 23,647 16,910
NET ASSETS 23,647 16,910
FUNDS 11
Unrestricted funds 23,647 16,910
TOTAL FUNDS 23,647 16,910

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 5

continued...

Crescent Educational Trust Limited Trading as The Fig Tree

Balance Sheet - continued 31 March 2022

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

The financial statements were approved by the Board of Trustees and authorised for issue on 23 December 2022 and were signed on its behalf by:

Mr Atif Hussain - Trustee

The notes form part of these financial statements

Page 6

Crescent Educational Trust Limited Trading as The Fig Tree

Notes to the Financial Statements for the Year Ended 31 March 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

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

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on reducing balance

Taxation

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

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

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

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 7

Crescent Educational Trust Limited Trading as The Fig Tree

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

2. OTHER TRADING ACTIVITIES

31.3.22 31.3.21
£ £
Dinner monies 14,505 5,038
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.3.22 31.3.21
£ £
Depreciation - owned assets 1,428 692

3. NET INCOME/(EXPENDITURE)

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

5. STAFF COSTS

The average monthly number of employees during the year was as follows:

31.3.22 31.3.21
Teachers and general staff 10 10

No employees received emoluments in excess of £60,000.

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 166,323
Charitable activities
Fees 60,812
Other trading activities 5,038
Total 232,173

continued...

Page 8

Crescent Educational Trust Limited Trading as The Fig Tree

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Unrestricted
fund
£
EXPENDITURE ON
Charitable activities
Educational activities 212,128
Other 3,976
Total 216,104
NET INCOME 16,069
RECONCILIATION OF FUNDS
Total funds brought forward 841
TOTAL FUNDS CARRIED FORWARD 16,910

7. GOING CONCERN

The Charity is wholly dependent on fees collected from students, grants from Nottingham City Council and local organisations and donations from local residents. It has small cumulative reserves but has generated a surplus this year. Covid-19 continues to put pressure on funding from fees and other activities but the trustee directors believe that funds will be secured to continue to operate for the foreseeable future. Accordingly, the accounts have been prepared on a going concern basis.

continued...

Page 9

Crescent Educational Trust Limited Trading as The Fig Tree

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

8. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 April 2021 25,504
Additions 3,634
At 31 March 2022 29,138
DEPRECIATION
At 1 April 2021 23,427
Charge for year 1,428
At 31 March 2022 24,855
NET BOOK VALUE
At 31 March 2022 4,283
At 31 March 2021 2,077
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£ £
Prepayments 1,888 1,935
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£ £
Social security and other taxes 2,513 -
Other creditors 6,153 3,280
Accrued expenses 1,361 1,885
10,027 5,165

continued...

Page 10

Crescent Educational Trust Limited Trading as The Fig Tree

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

11. MOVEMENT IN FUNDS

At 1.4.21
£
Unrestricted funds
General fund
16,910
TOTAL FUNDS
16,910
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
256,527
TOTAL FUNDS
256,527
Comparatives for movement in funds
At 1.4.20
£
Unrestricted funds
General fund
841
TOTAL FUNDS
841
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
232,173
TOTAL FUNDS
232,173		 Net
movement
At
in funds
31.3.22
£
£
6,737
23,647
6,737
23,647
Resources
Movement
expended
in funds
£
£
(249,790)
6,737
(249,790)
6,737
Net
movement
At
in funds
31.3.21
£
£
16,069
16,910
16,069
16,910
Resources
Movement
expended
in funds
£
£
(216,104)
16,069
(216,104)
16,069		 Net
movement
At
in funds
31.3.22
£
£
6,737
23,647
6,737
23,647
Resources
Movement
expended
in funds
£
£
(249,790)
6,737
(249,790)
6,737
Net
movement
At
in funds
31.3.21
£
£
16,069
16,910
16,069
16,910
Resources
Movement
expended
in funds
£
£
(216,104)
16,069
(216,104)
16,069
16,069

continued...

Page 11

Crescent Educational Trust Limited Trading as The Fig Tree

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

11. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.4.20 in funds 31.3.22
£ £ £
Unrestricted funds
General fund 841 22,806 23,647
TOTAL FUNDS 841 22,806 23,647

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
488,700
488,700		 Resources
Movement
expended
in funds
£
£
(465,894)
22,806
(465,894)
22,806		 Resources
Movement
expended
in funds
£
£
(465,894)
22,806
(465,894)
22,806
22,806

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

Page 12

Crescent Educational Trust Limited Trading as The Fig Tree

Detailed Statement of Financial Activities for the Year Ended 31 March 2022

31.3.22 31.3.21
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 22,457 36,485
Grants 101,797 129,838
124,254 166,323
Other trading activities
Dinner monies 14,505 5,038
Charitable activities
Fees 117,768 60,812
Total incoming resources 256,527 232,173
EXPENDITURE
Charitable activities
Wages 177,763 161,464
Social security 4,891 2,471
Pensions 4,651 3,463
Rates and water 9,470 11,008
Light and heat 14,631 11,141
Telephone 1,069 926
Books and stationery 4,070 4,997
Repairs and maintenance 13,765 8,974
Sundries 1,334 -
Student welfare 4,789 1,933
Refuse and cleaning 552 1,194
Training and consultancy 584 662
Licences and subscriptions 4,743 3,895
Events and activities 2,543 -
244,855 212,128
Support costs
Finance
Accountancy 826 1,350

This page does not form part of the statutory financial statements

Page 13

Crescent Educational Trust Limited Trading as The Fig Tree

Detailed Statement of Financial Activities for the Year Ended 31 March 2022

31.3.22 31.3.21
£ £
Finance
Other
Insurance 2,681 1,934
Depreciation 1,428 692
4,109 2,626
Total resources expended 249,790 216,104
Net income 6,737 16,069

This page does not form part of the statutory financial statements

Page 14