##
||Page||
|---|---|---|
|Reference and Adminislratlve
DetaBs|||
|Report ofthe Trustees|2 to|6|
|Report ofthe Independent
Auditors|7 to|9|
|Statement of Financial
Activifies|10||
|Balance Sheet|||
|Cash Flow Statement|12||
|Notes to the Cash Flow Statement|13||
|Notes to the Financial Statements|14 to|21|
|Detailed Statement
of Financial
Activities|22 to|23|
##
|TRUSTEES|Prof A Ahmad|Prof A Ahmad|||
|---|---|---|---|---|
||Dr M A Bari||||
||Dr M Ahsan||||
||Prof KAhmad||||
||Dr Z Parvez||||
||Dr R Mohammed||||
||Dr M R M Lebbai||||
|PRINCIPAL ADDRESS|The Markfield|Conference Centre|||
||Ratby Lane||||
||Leicester||||
||Leicestershire||||
||LE67 9SY||||
|REGISTERED CHARITY NUMBER|1160353||||
|AUDITORS|Fortus Audit|LLP|||
||Chartered
Accountants||8,Statutory|Auditor|
||31 High View Close||||
||Hamilton
Office Park||||
||Leicester||||
||Leicestershire||||
||LE49LJ||||
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||||||2021|2020|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||fund|funds|funds|funds|
|||Notes|E||E|E|
|INCOME AND ENDOWMENTS|FROM||||||
|Donations and legacies|||81,190|28,015|109,205|63,568|
|Charitable
activities|||||||
|Hire ofConference
facilities|||43,806||43,806|18,913|
|Project funding|||1,547||1,547|2,853|
|Investment
income||3|173,902||I73,902|159,709|
|Other income||5|128,854||128,854|150,286|
|Total|||429,299|28,015|457,314|395,329|
|EXPENDITURE ON|||||||
|Raising funds||6|6,960||6,960|5,458|
|Charitable
activities|||||||
|Donations||||27,000|27,000||
|General costs|||192,012||192,012|217,088|
|Other|||268,007|33|268,040|254,795|
|Total|||466,979|27,033|494,012|477,341|
|Net gains on investments||||||59,000|
|NET INCOME/(EXPENDITURE)|||(37,680)|982|(36,698)|(23,012)|
|Transfers between
funds||19|(224)|224|||
|Net movement
in funds|||(37,904)|1,206|(36,698)|(23,012)|
|RECONCILIATION
OF FUNDS|||||||
|Total funds brought forward|||3,996,822|45,000|4,041,822|4,064,834|
|TOTAL FUNDS CARRIED FORWARD|||3,958,918|46,206|4,005,124|4,041,822|
##
##
||||||2021|2020|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Tota
I|Total|
||||fund|funds|funds|funds|
|||Notes|E||||
|FIXED ASSETS|||||||
|Tangible assets||12|2,203,754||2,203,754|2,252,399|
|Investment
property||13|1,656,701||1,656,701|1,656,701|
||||3,860,455||3,860,455|3,909,100|
|CURRENI' ASSETS|||||||
|Debtors||14|201,780||201,780|304,403|
|Cash at bank and|in hand||175,717|46,206|221,923|137,550|
||||377497|46,206|423,703|441,953|
|CREDITORS|||||||
|Amounts
falling due within one year||15|(234,867)||(234,867)|(219,350)|
|NET CURRENT ASSETS|||142,630|46,206|188,836|222,603|
|TOTAL ASSETS LESS|CURRENT LIABILITIES||4,003,085|46,206|4,049,291|4,131,703|
|CREDITORS|||||||
|Amounts
falling due after more than one|||||||
|year||16|(44,167)||(44,167)|(89,881)|
|NET ASSETS|||3,958,918|46,206|4,005,124|4041,822|
|FUNDS||19|||||
|Unrestricted
funds|||||3,958,918|3,996,822|
|Restnicted
funds|||||46,206|45,000|
|TOTAL FUNDS|||||4,005,124|4,041,822|
##
##
|||||2021|2020|
|---|---|---|---|---|---|
||||Notes|||
|Cash flows from operating|activities|||||
|Cash generated
from operations|||I|145,707|(70,536)|
|Interest paid||||(4,163)|(5,705)|
|Net cash provided
by/(used
in) operating|||activities|141,544|(76,241 )|
|Cash flows from Investing|activities|||||
|Purchase oftangible
fixed|assets|||(545)|(1,093)|
|Interest received||||994|1,258|
|Net cash provided
by investing
activities||||449|165|
|Cash flows from financing|activities|||||
|New loans in year||||50,000||
|Loan repayments
in year||||(107,620)|(16,971)|
|Net cash used in financing|activities|||(57,620)|(16,971)|
|Change
in cash and cash|equivalents|in||||
|the reporting
period||||84,373|(93,047)|
|Cash and cash equivalents|at fhe|||||
|beginning
ofthe reporting|period|||137,550|230,597|
|Cash and cash equivalents|at the end|of||||
|the reporting
period||||221,923|137,550|
##
||RECONCILIATION|RECONCILIATION|OF|OF|NET EXPENDITURE TO NET CASH|NET EXPENDITURE TO NET CASH|NET EXPENDITURE TO NET CASH|NET EXPENDITURE TO NET CASH|FLOW FROM|OPERATING|ACTIVITIES||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||2021|2020|
||Net expenditure||for the|||reporting||period (as per the|Statement of||||
||FInancial Activities)||||||||||(36,698)|(23,012)|
||Adjustments|for:|||||||||||
||Depreciation|charges|||||||||49,189|52,501|
||Losses on investments|||||||||||(59,000)|
||Interest received||||||||||(994)|(1,258)|
||Interest paid||||||||||4,163|5,705|
||Decrease/(increase)||||in|debtors|||||102,623|(40,379]|
||Increase/(decrease)||||in|creditors|||||27424|(5,093]|
||Net cash provided|||by/(used|||in)|operations|||145,707|(70,536)|
|2.|ANALYSIS OF|CHANGES||||IN NET FUNDS|||||||
||||||||||At|1.1.21|Cash flow|At31.12.21|
|||||||||||||E|
||Net cash||||||||||||
||Cash at bank|and||in hand|||||137,550||84,373|221,923|
||||||||||137,550||84,373|221,923|
||Debt||||||||||||
||Debts falling|due|within|||I year|||(17,740)||11,907|(5,833)|
||Debts falling|due|after|||I year|||(89,881)||45,714|(44,167]|
||||||||||(107,621 )||57,621|(50,000)|
||Total|||||||||29,929|141,994|171,923|
##
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|DONATIONS
AND LE|GACIES|||||
|---|---|---|---|---|---|
|||||2021|2020|
|||||E||
|Donations||||109,205|63,568|
|INVESTMENT INCOME||||||
|||||2021|2020|
|Rents received||||172,908|158,451|
|Deposit account interest||||994|1,258|
|||||173,902|159,709|
|INCOME FROM CHARITABLE||ACTIVITIES||||
|||||2021|2020|
|||Activity||||
|Hire ofconference||||||
|facilities||Hire ofConference|facilities|43,806|18,913|
|Project funding||Project funding||1,547|2,853|
|||||45,353|21,766|
|OTHER INCOME||||||
|||||2021|2020|
|||||E||
|Service charges receivable||||19,660|I6,556|
|Other income||||7,303|11,848|
|CQVID- government|grants|||101,891|121,882|
|||||128,854|150,286|
##
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##
|Other trading
activIRes|||||
|---|---|---|---|---|
||||2021|2020|
|Property management|expenses||6,960|5,458|
|CHARITABLE ACTIVITIES|COSTS||||
||||Support||
|||Direct|costs (see||
|||Costs|note 8)|Totals|
|Donations||27,000||27,000|
|General costs||185,162|6,850|192,012|
|||212,162|6,850|219,012|
##
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|STAFF COSTS|||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
|Wages and salaries|||||I73,734|192,524|
|Social secudty costs|||||8,975|14,069|
|Other pension costs|||||2,453|3,745|
||||||185,162|210,338|
|The average|monthly|number ofemployees|during|the year was as follows:|||
||||||2021|2020|
|Administration|and governance||||7|7|
|Other|||||3|3|
||||||10|10|
##
|11.|COMPARATIVES
FOR THE STATEMENT OF FINANCIAL|COMPARATIVES
FOR THE STATEMENT OF FINANCIAL|COMPARATIVES
FOR THE STATEMENT OF FINANCIAL|ACTIVITIES||||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|
||||||fund|fund|funds|
||INCOME AND ENDOWMENTS||FROM|||||
||Donations and legacies||||63,568||63,568|
||Charitable
activities|||||||
||Hire ofConference|facilities|||18,913||18,913|
||Project funding||||2,853||2,853|
||Investment
income||||159,709||159,709|
||Other income||||150,286||150,286|
||Total||||395,329||395,329|
||EXPENDITURE ON|||||||
||Raising funds||||5,458||5,458|
||Charitable
activities|||||||
||General costs||||217.088||217,088|
||Other||||254,795||254,795|
||Total||||477,341||477,341|
||Net gains on investments||||59,000||59,000|
||NET INCOME/(EXPENDITURE)||||(23,012I||(23,012(|
||RECONCILIATION
OF FUNDS|||||||
||Total funds brought|forward|||4,019,834|45,000|4,064,834|
||TOTAL FUNDS CARRIED FORWARD||||3,996,822|45,000|4,041,822|
##
##
|TA|NGIBLE FIXED ASSETS||||||
|---|---|---|---|---|---|---|
||||Fixtures||||
|||Freehold|and|Motor|Computer||
|||property|fittings|vehicles|equipment|Totals|
|||||E||E|
|COST|||||||
|At|I January 2021|2,341,154|69,089|249|283|2,410,775|
|Additions|||545|||545|
|At|31 December 2021|2,341,154|69,634|249|283|2,411,320|
|DEPRECIATION|||||||
|At|I January 2021|139,532|18474|87|283|158,376|
|Charge foryear||44,033|5,116|41||49,190|
|At|31 December 2021|183,565|23,590|128|283|207,566|
|NET BOOK VALUE|||||||
|At|31 December 2021|2,157,589|46,044|121||2,203,754|
|At|31 December 2020|2,201,622|50,615|162||2,252.399|
##
##
|FAIR VALUE||
|---|---|
|At I January
2021||
|and 31 December 2021|1.656,701|
|NET BOOK VALUE||
|At 31 December 2021|1,656,701|
|At 31 December 2020|1,656,701|
##
##
|DEBTORS|||||
|---|---|---|---|---|
||||2021|2020|
||||E||
|Amounts|falling due within one year:||||
|Trade debtors|||53,860|49,548|
|Kube Publishing
Limited|||83,140|83,140|
|Markfield|Institute of Higher Education||52,386|95,069|
|VAT||||2,883|
|Prepayments||and accrued income|I2,394|11,966|
||||201,780|242,606|
##
|14.|DEBTORS|- continued|||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||E|E|
||Amounts|falling due after more than one year:|||||
||Markfield|Institute of Higher||Education||61,797|
||Aggregate
amounts||||201,780|304.403|
|15.|CREDITORS: AMOUNTS||FALLING DUE WITHIN ONE YEAR||||
||||||2021|2020|
||||||E|E|
||Bank loans and overdrafts|||(see note 17)|5,833|17,740|
||Trade creditors||||41,880|15,929|
||Taxation and social security||||5,739|2,733|
||Other creditors||||181,415|182,948|
||||||234,867|219,350|
|16.|CREDITORS: AMOUNTS||FALLING DUE AFTER MORE THAN ONE YEAR||||
||||||2021|2020|
||Bank loans (see note||17)||44,167|89,881|
|17.|LOANS||||||
||An analysis ofthe maturity|||ofloans is given below:|||
||||||2021|2020|
||||||E|E|
||Amounts|falling due within||one year on demand:|||
||Bank loan||||5,833|17,740|
||Amounts|falling between one and two years:|||||
||Bank loan||||10,000|18,627|
||Amounts|falling due between
two and five years:|||||
||Bank loan||||30,000|48,137|
||Amounts|falling due in|more than five years:||||
||Repayable
by instalments:||||||
||Bank loan||||4,167|23,117|
##
##
|||2021|2020|
|---|---|---|---|
|||E||
|Bank|loans|50,000|107,621|
##
##
|MOVEMENT|IN|FUNDS|||||
|---|---|---|---|---|---|---|
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.1.21|in funds|funds|31.12.21|
||||E||||
|Unrestricted|funds||||||
|General fund|||3,996,822|(37,680)|(224)|3,958,918|
|Restricted funds|||||||
|Scholarship|||45,000|||45,000|
|IFKenya||||982|224|1,206|
||||45,000|982|224|46,206|
|TOTAL FUNDS|||4,041,822|(36,698)||4.005,124|
|Net movement||in funds, included|in the above are as follows:||||
|||||Incoming|Resources|Movement|
|||||resources|expended|in funds|
|||||E|||
|Unrestricted|funds||||||
|General fund||||429,299|(466,979)|(37,680)|
|Restricted funds|||||||
|IF Kenya||||28,015|(27,033)|982|
|TOTAL FUNDS||||457,314|(494,012)|(36,698)|
##
||||Net||
|---|---|---|---|---|
||||movement|At|
|||At 1.1.20|in funds|31.12.20|
|||E|||
|Unrestricted|funds||||
|General fund||4,019,834|(23,012)|3,996,822|
|Restricted funds|||||
|Scholarship||45,000||45,000|
|TOTAL FUNDS||4,064,834|(23,012)|4,041,822|
##
|Compara|tive|net movement
in|funds. included
in the abov|e are as follows:|||
|---|---|---|---|---|---|---|
||||Incoming|Resources|Gains and|Movement|
||||resources|expended|losses|in funds|
||||E|E|E||
|Unrestricted||funds|||||
|General|fund||395,329|(477,341 )|59,000|(23,012)|
|TOTAL FUNDS|||395,329|(477,341 )|59,000|(23,012)|
##
##
||||2021|2020|
|---|---|---|---|---|
|INCOME AND ENDOWMENTS|||||
|Donations and legacies|||||
|Donations|||109,205|63,568|
|Investmenl
income|||||
|Rents received|||I72,908|158,451|
|Deposit account interest|||994|1,258|
||||173,902|159,709|
|Charitable
activities|||||
|Hire ofconference|facilities||43,806|18,913|
|Project funding|||1,547|2,853|
||||45,353|21,766|
|Other income|||||
|Service charges receivable|||19,660|16,556|
|Other income|||7,303|11,848|
|COVID- government||grants|101.891|121,882|
||||128.854|150,286|
|Total Incoming resources|||457,314|395,329|
|EXPENDITURE|||||
|Other trading
activities|||||
|Property management||expenses|6,960|5,458|
|Chaiitable
activities|||||
|Wages|||I73,734|192,524|
|Social security|||8,975|14,069|
|Pensions|||2,453|3,745|
|Donations
paid|||27,000||
||||212,162|210,338|
|Other|||||
|Hire ofequipment|||2,570|2,221|
|Advertising
and promotion|||1,350|560|
|Rates and water|||63,321|29,317|
|Insurance|||11,023|18,605|
|Light and heat|||48,248|48,360|
|Motor and travel expenses|||2,301|594|
|Printing. postage and||stationery|6,219|6,757|
|Telephone|||4,572|2,748|
|ITand internet costs|||3,552|2,203|
|Carried forward|||143,156|111,365|
##
||2021|2020|
|---|---|---|
|Other|||
|Brought forward|143,156|111,365|
|Library costs|9,790|14,896|
|Repairs and maintenance|18,847|14,364|
|Cleaning|7,585|7,500|
|Bank charges|1,176|42|
|Legal and professional|7,570|26,676|
|Financial operations|18,000|18,452|
|Meals and accommodation|8,426|3,294|
|Entertainment|'I38||
|Freehold property
dep'n|44,032|46,823|
|Fixtures 8, fittings dep'n|5,116|5,624|
|Motor vehicle dep'n|41|54|
|Bank interest|I||
|Bank loan interest|4,162|5,705|
||268,040|254,795|
|Support costs|||
|Governance
costs|||
|Auditors'
remuneration|6,850|6,750|
|Total resources expended|494,012|477,341|
|Net expenditure|(36,698)|(82,012)|