Company Registration No: 07881901 Charity Registration No: 1160838
METHODIST ACADEMIES AND SCHOOLS TRUST
TRUSTEES' ANNUAL REPORT AND UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2021
METHODIST ACADEMIES AND SCHOOLS TRUST YEAR ENDED 31 AUGUST 2021
CONTENTS
| page | |
|---|---|
| Legal and administrative information | 2 |
| Trustees' Annual Report | 3-6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Accounts | 10-13 |
METHODIST ACADEMIES AND SCHOOLS TRUST YEAR ENDED 31 AUGUST 2021
LEGAL AND ADMINISTRATIVE INFORMATION
Charity Name Methodist Academies and Schools Trust Charity Registration No. 1160838 Company Registration No. 07881901 (England and Wales) Registered Office Methodist Church House 25 Marylebone Road London NW1 5JR Trustees/Directors Mr S Colledge (Chair) (appointed on 1 September 2020) Mrs A Bolton Mrs L Brookbanks Dr L Earps Mrs A Foster (appointed on 1 September 2020) Dr D Kershaw CBE Revd P Martin (Deputy Chair) Revd S Ratcliffe (resigned on 22 September 2021) Dr C Stephens Mr J Weaving (resigned on 12 November 2021) Bankers HSBC The Peak 333 Vauxhall Bridge Road London SW1V 1EJ Independent Examiner RSM UK Tax and Accounting Limited 25 Farringdon Street London EC4A 4AB
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METHODIST ACADEMIES AND SCHOOLS TRUST YEAR ENDED 31 AUGUST 2021
TRUSTEES' ANNUAL REPORT
The Trustees of the charity, who are also the company directors present their annual report and the financial statements of the Methodist Academies and Schools Trust for the year ended 31 August 2021. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the Charities Statement of Recommended Practice ("Charities SORP") (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland; FRS 102) issued in October 2019.
Reference and Administrative Details
The names of the Trustees during the period and to the date of this report and other reference and administrative details are given on page 2.
Structure, Governance and Management
The governing documents of the charity are the memorandum and articles of association of the company. The Trustees of the charity are the directors of the company.
Method of Recruitment, Appointment, Election, Induction & Training of Trustees
The Trustees, who are the directors of the Company, are appointed by the Methodist Conference on the recommendation of the Methodist Council. The Articles of Association provide that the Trustees shall consist of the Chair and no more than 13 other Trustees. The Trustees are also the members.
Induction and training of Board members is the responsibility of the Chair, who inducts all new members, and provides information, updates and training as necessary.
To reflect the on going financial support from Southlands Methodist Trust and Westminster College Oxford Trust Dr Christopher Stephens and Mrs Anne Bolton have been appointed to be trustees of MAST representing these two organisations.
Objectives and Activities for the Public Benefit
In the name of the Methodist Church, to oversee support and guidance for Methodist schools in the state sector and (jointly with the Church of England) ecumenical schools in providing the best allround education for all their pupils, inspired by Methodist values and ethos and resourced by high quality professional expertise.
The charity trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
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METHODIST ACADEMIES AND SCHOOLS TRUST YEAR ENDED 31 AUGUST 2021
TRUSTEES' ANNUAL REPORT
Achievements and Performance
The achievements and ongoing activities of the organisation were set in the context of the Covid pandemic and its uneven impacts on schooling at different times in the year and different parts of the country. Achievements and performance therefore include:
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Strong pastoral support for Methodist school leaders in response to the extra stress and strain of the role in covid times.
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Strong practical support so that our Headteachers and Governors could lead schools most effectively at different phases of the pandemic, applying national guidance to individual contexts.
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Developing an increasingly strong and popular series of webinars for schools and adding a YouTube channel to allow for ‘watch again’. By the end of the year MAST had over 30 webinars in the online library for people in schools to watch at their convenience, or as a resource for school leaders to use in whole-staff/Governor training. The webinars cover a range of training needs: general curriculum provision; subject specific training (such as ‘excellence in teaching numeracy’ and ‘liven up your literacy’); church school ethos, worship and religious education; Covid-specific support. Because of the online availability we have been able to share training extensively beyond the group with no additional effort, including internationally with worldwide Methodist partners.
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Embedding closer relationships with our schools begun in the previous year by the appointment of locally based Regional Leaders in Education and development of improved systems for information sharing. The restrictions of the pandemic impacted the further development of our support programme for early headship but the provision, though limited, was still welcomed.
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Close partnership working with The Epworth Trust, our Methodist sister organisation working in the academies sector, enabling us to offer high-quality school improvement intervention to schools experiencing particular vulnerability.
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Following the initiation of a suite of anti-racist RE resources in 2019/20 (developed for us by the National Association of Teachers of Religious Education – NATRE), MAST was part of the rollout and promotion of the materials throughout the year. By the end of the academic year, they were being used in an estimated 1200 schools across the country.
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Working with partners in the Church of England to re-work the current Section 48 inspection framework ready for the recommencement of inspections in September 2021.
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Additionally, working with our Anglican partners to introduce a centralised system for SIAMS which will avoid some of the inconsistencies of the present system and enhance the quality of Section 48 inspections across the Church of England and Methodist schools sector.
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Welcoming the new Chair of MAST and plotting a course for an active organisation in uncertain times.
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Taking a full and active part in the Methodist Schools Committee, supporting the development of a strategy for education within the overall work of the Methodist Church, bringing this successfully to the Methodist Conference of 2021 and beginning the work of delivery.
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METHODIST ACADEMIES AND SCHOOLS TRUST YEAR ENDED 31 AUGUST 2021
TRUSTEES' ANNUAL REPORT
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Responding to Government encouragement to strengthen the national academisation process by supporting Methodist schools looking to become academies and working closely with our Methodist Academy colleagues at The Epworth Trust.
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Working with the Free Church Education Committee, especially in the provision of resources and contributing, with them, to teacher training in Religious Education.
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contributing to chaplaincy development within the organisation and working to support the development of centralised educational chaplaincy support through the Centre for Chaplaincy in Education.
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Working closely with other partners in the provision of high quality education particularly, but not exclusively, the Methodist Independent Schools Trust and the University of Roehampton.
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Working with the Methodist Church to establish understanding and commitment to schools in a practical and purposeful way despite an uncertain future.
Financial Review
During the year the Trust had net expenditure of £85,262 (2020: net income of £105,852). The net expenditure outcome for the year was expected, and was the result of a 'grant holiday' taken by one of our main funders in light of the significant reserves built up in MAST, and a reduction in costs in 20/21 as a result of the pandemic. The charity finished the year with healthy reserves and continues to enjoy the pledged support of its funders for the forthcoming year.
Reserves Policy
The charity generates a regular income by way of grants from; the Methodist Church, Southlands Methodist Trust and Westminster College Oxford Trust Ltd, which is adequate to cover the projected expenditure. In addition, the charity seeks to maintain adequate reserves to enable it to meet any unforeseen expenditure or to cover any short term drop in income. As at 31 August 2021, the free reserves were £282,005 (2020: £367,267) and restricted reserves were £nil (2020: £nil).
Plans for Future Periods
During the forthcoming year the trustees will continue to provide support and guidance for Methodist schools in the state sector and (jointly with The Epworth Trust and the Church of England) for ecumenical schools in providing the best all round education for all their pupils, inspired by Methodist values and ethos and resourced by high quality professional expertise.
Risk Management
The trustees have examined the major strategic, financial and operational risks which the Charity faces and confirm that systems have been established to ensure that necessary steps are taken to mitigate these risks. In particular, they meet regularly to review investment policy, to monitor cash flow and future commitments and to approve all expenditure.
Statement as to the Disclosure of Information to the Independent Examiner
The trustees at the date of approval of this trustees’ annual report confirm that so far as each of them is aware, there is no relevant information of which the charity’s independent examiner is unaware, and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information.
Independent examiner, Nicholas Sladden of RSM UK Tax and Accounting Limited, has indicated his willingness to continue in office.
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METHODIST ACADEMIES AND SCHOOLS TRUST YEAR ENDED 31 AUGUST 2021
TRUSTEES' ANNUAL REPORT
Trustees' responsibilities in the preparation of financial statements
The trustees (who are also the directors of MAST for the purposes of company law) are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees are preparing the financial statements in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice and applicable law).
The report and financial statements have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
Under company law, the trustees must not approve financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Trust and of its income and expenditure, for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Trust's transactions and disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Trust's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from the legislation in other jurisdictions.
ON BEHALF OF THE BOARD
S Colled e g J
S Colledge Director and Trustee
Approved by the Board on 14 December 2021
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METHODIST ACADEMIES AND SCHOOLS TRUST YEAR ENDED 31 AUGUST 2021
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF METHODIST ACADEMIES AND SCHOOLS TRUST
I report to the trustees on my examination of the accounts of Methodist Academies and Schools Trust for the year ended 31 August 2021, which are set out on pages 8 to 13.
Responsibilities and basis of report
As the 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.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and 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.
Signed:
Nicholas Sladden
Fellow of the Institute of Chartered Accountants in England and Wales On behalf of RSM UK Tax and Acounting Limited Chartered Accountants 25 Farringdon Street London EC4A 4AB
Dated: 15/12/21
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METHODIST ACADEMIES AND SCHOOLS TRUST YEAR ENDED 31 AUGUST 2021
STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT
| Note Income: From grants 2 From charitable activities Total income Expenditure on: Charitable activities 3 Total expenditure Reconciliation of Funds Total funds brought forward Total funds carried forward Net (expenditure)/income |
Funds Funds £ £ 86,000 95,000 - - 86,000 95,000 86,000 180,262 86,000 180,262 - (85,262) - 367,267 - 282,005 Unrestricted Restricted |
2021 Total £ 181,000 - 181,000 266,262 266,262 (85,262) 367,267 282,005 |
2020 Total £ 323,500 2,800 |
|---|---|---|---|
| 326,300 | |||
| 220,448 | |||
| 220,448 | |||
| 105,852 261,415 |
|||
| 367,267 |
The notes on pages 10 to 13 form part of these Accounts
These unaudited financial statements have been subjected to independent examination. See report on page 7.
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METHODIST ACADEMIES AND SCHOOLS TRUST AS AT 31 AUGUST 2021
BALANCE SHEET
Company registration number: 07881901
| Note Current assets: Cash at bank and in hand Liabilities: 6 Net current assets Net Assets Funds of the charity: Restricted funds 7 Unrestricted funds 7 Total charity funds Creditors: due within one year |
2021 £ 312,895 312,895 (30,890) 282,005 282,005 - 282,005 282,005 |
2020 £ 399,076 |
|---|---|---|
| 399,076 (31,809) |
||
| 367,267 | ||
| 367,267 | ||
| - 367,267 |
||
| 367,267 |
For the year ended 31 August 2021, the Trust was entitled to exemption from audit under section 477 of the Companies Act 2006 ("the Act") relating to small companies.
The trustees' responsibilities:
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the members have not required the Trust to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Act; and
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the trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The financial statements on pages 8 to 13 were approved by the trustees and authorised for issue on the 14th December 2021, and are signed on their behalf by
SJColledge
Mr S Colledge Director and Trustee
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METHODIST ACADEMIES AND SCHOOLS TRUST YEAR ENDED 31 AUGUST 2021
NOTES TO THE ACCOUNTS
1. ACCOUNTING POLICIES
Legal status
The charity (a company limited by guarantee) is incorporated in England and Wales with its registered office address being, 25 Marylebone Road, London NW1 5JR.
The charity’s objectives and aims are disclosed in the trustees' report on page 3.
Basis of accounting
The financial statements have been prepared in accordance with the 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.
The trust constitutes a public benefit entity as defined by FRS 102.
Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Grants and donations are treated as restricted funds if restrictions on their use are stipulated by the donor. All other types of income are accounted for on an accruals basis, being recognised as income when earned by the Charity.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is allocated to the charity’s principal activity where the costs can be identified as being directly related to that activity. All costs that cannot be identified as relating directly to the charity’s principal activity are categorised as either support costs or governance costs.
Fund accounting
The general fund comprises the accumulated surpluses of unrestricted income over expenditure, which are available for use in furtherance of the general objectives of the Trust.
Restricted funds are funds subject to specific conditions imposed by donors.
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METHODIST ACADEMIES AND SCHOOLS TRUST YEAR ENDED 31 AUGUST 2021
NOTES TO THE ACCOUNTS
Going concern
The trustees have reviewed the financial forecasts for the Trust and have in particular considered its anticipated income and expenditure commitments for a period of twelve months from the date of approval of this trustees' annual report. The trustees believe that the Trust has adequate resources to continue in operational existence for at least the next twelve months and to meet all of its liabilites during that period as they fall due. For that reason, the trustees continue to adopt the going concern basis in preparing the financial statements.
Taxation
The Trust is a registered charitable company and as such its income and gains falling due under section 471 to 489 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 are exempt from corporate tax to the extent that they are applied to its charitable objectives.
Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
All financial instruments of the charity are basic and therefore measured at amortised cost.
2. GRANTS AND DONATIONS
| TS AND DONATIONS | |||
|---|---|---|---|
| Funds £ Grants Methodist Church 95,000 Southlands Methodist Trust - - 95,000 Westminister College Oxford Trust Ltd Unrestricted |
Restricted Funds £ - 86,000 - 86,000 |
Total 2021 £ 95,000 86,000 - 181,000 |
Total 2020 £ 93,500 50,000 180,000 |
| 323,500 |
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METHODIST ACADEMIES AND SCHOOLS TRUST YEAR ENDED 31 AUGUST 2021
NOTES TO THE ACCOUNTS
3. EXPENDITURE - ANALYSIS OF TOTAL EXPENDITURE
Resources expended on the charitable activity of supporting education in the maintained sector comprised:
| Funds £ Consultancy costs 104,687 SIAMS partnership work 25,000 41,970 1,855 Marketing - Governance costs 163 Events 2,785 Training 360 Grants to schools 500 Other 2,943 180,262 Unrestricted Office and administration costs Legal and professional costs |
Restricted Funds £ 86,000 - - - - - - - - 86,000 |
Total 2021 £ 190,687 25,000 41,970 1,855 - 163 2,785 360 500 2,943 266,262 |
Total 2020 £ 157,211 - 44,453 3,497 500 3,945 9,330 - - 1,512 |
|---|---|---|---|
| 220,448 |
The trustees received no remuneration for their services in the current or previous year, but 1 individual (2020: 7), who was a trustee was reimbursed for £163 (2020: £2,835) of travelling and subsistence costs incurred.
4. STAFF COSTS
The Trust did not employ any staff during either year.
5. LEGAL & PROFESSIONAL COSTS
| L & PROFESSIONAL COSTS | ||
|---|---|---|
| Independent Examiners - RSM Legal fees Inspection fees |
2021 £ 1,360 495 - 1,855 |
2020 £ 1,311 1,711 475 |
| 3,497 |
6. CREDITORS: amounts falling due within one year
| Accruals | 2021 £ 30,890 |
2020 £ 31,809 |
|---|---|---|
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METHODIST ACADEMIES AND SCHOOLS TRUST YEAR ENDED 31 AUGUST 2021
NOTES TO THE ACCOUNTS
7. RESERVES - THE FUNDS OF THE CHARITY
| 2021 Restricted funds Unrestricted funds: General Fund 2020 Restricted funds Unrestricted funds: General Fund |
1 Sept 2020 £ - 367,267 367,267 1 Sept 2019 £ 44,734 216,681 261,415 |
Income £ 86,000 95,000 181,000 Income £ 50,000 276,300 326,300 |
£ (86,000) (180,262) (266,262) £ (94,734) (125,714) (220,448) Expenditure Expenditure |
31 Aug 2021 £ - 282,005 |
|---|---|---|---|---|
| 282,005 | ||||
| 31 Aug 2020 £ - 367,267 |
||||
| 367,267 |
Restricted funds comprise amounts received from Southlands Methodist Trust towards the costs of the Head of Service role.
8. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| 2021 Funds £ Current assets 312,895 Current liabilities (30,890) 282,005 2020 Funds £ Current assets 399,076 Current liabilities (31,809) 367,267 Unrestricted Unrestricted |
Restricted Funds £ - - - Restricted Funds £ - - - |
Total £ 312,895 (30,890) |
|---|---|---|
| 282,005 | ||
| Total £ 399,076 (31,809) |
||
| 367,267 |
9. RELATED PARTY TRANSACTIONS
No related party transactions occurred during the accounting period to 31 August 2021 (2020: none).
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