2022-07-31-accounts - Brs Education Limited

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				Page
Reference and Administrative		Details ofthe Company,	its Trustees and Advisers	1-2
Chairman's	Statement
Trustees' Report				4-10
Independent	Auditor's Report	on the Financial Statements		11-14
Consolidated	Statement ofFinancial Activities			15
Consolidated	Balance Sheet			16
Company Balance Sheet				17
Consolidated	Statement ofCash Flows			18
Notes to the	Financial Statements			19-42

			FO	R THE	YEAR ENDED 31	JULY 2022
					Unrestricted	Restricted	Total	Total
					funds	funds	funds	funds
					2022	2022	2022	2021
				Note
Income from:
Donations and legacies					191,295	374,105	565,400	335,538
Charitable activities					3,462,781		3,462,781	2,813,396
Income from BRSTraining			Ltd		99,962		99,962	75,366
Investments					26,208	13,733	39,941	40,469
Other income					270,366		270,366	215,479
Total income					4,050,612	387,838	4,438,450	3,480,248
Expenditure on:
Raising funds:
Costs ofBRSTraining		Ltd			106,608		106,608	121,036
Investment management					11,504	4,705	16,209	16,019
Charitable activities				9	4,263,205	256,989	4,520,194	3,870,649
Other expenditure					22,141		22,141	24,266
							'
Total expenditure					4,403,458	261,694	4,665,152	4,031,970
Net (expenditure)/income			before net
(losses)/gains on	investments				(352,846)	126,144	(226,702)	(551,722)
Net (losses)/gains	on investments				(102,400)	(23,350)	(125,750)	320,257
Net (expenditure)/income					(455,246)	102,794	(352,452)	(231,465)
Transfers between	funds			20	53,659	(53,659)
Net movement in	funds				(401,587)	49,135	(352,452)	(231,465)
Reconciliation of	funds:
Total funds brought	forward				3,305,842	2,555,399	5,861,241	6,092,706
Net movement in funds					(401,587)	49,135	(352,452)	(231,465)
Total funds carried forward					2,904,255	2,604,534	5,508,789	5,861,241

			AS AT 31	JULY 2022
			Note		2022		2021f
Fixed assets
Tangible assets			14		2,984,659		3,135,321
Investments			15		2,382,652		2,707,385
					5,367,311		5,842,706
Current assets
Stocks			16	12,032		21,294
Debtors			17	405,576		305,082
Investments			18	235,995		166,939
Cash at bank	and	in hand		163,380		158,260
				816,983		651,575
Creditors: amounts		falling due within one
year			19	(675,505)		(633,040)
Net current assets					141,478		18,535
Total assets	less	current liabilities			5,508,789		5,861,241
Total net assets					5,508,789		5,861,241
Charity funds
Restricted funds			20		2,604,534		2,555,399
Unrestricted	funds		20		2,904,255		3,305,842
Total funds					5,508,789		5,861,241

				COMPANY	BALANCE SHEET
				AS AT	31 JULY 2022
						2022		2021
				Note				F
Fixed assets
Tangible assets				14		2,871,877		2,997,476
Investments				15		2,532,652		2,857,385
						5,404,529		5,854,861
Current assets
Stocks				16	7,990		13,493
Debtors				17	427,064		331,473
Investments				18	235,995		166,939
Cash at bank	and in hand				93,265		134,597
					764,314		646,502
Creditors: amounts		falling	due within one
year				19	(659,320)		(615,276)
Net current	assets					104,994		31,226
Total assets	less current		liabilities			5,509,523		5,886,087
Total net assets						5,509,523		5,886,087
Charity funds
Restricted funds				20		2,604,534		2,555,399
Unrestricted	funds			20		2,904,989		3,330,688
Total funds						5,509,523		5,886,087

	CONSOLIDATED STATEMENT OF CASH FLOWS	CONSOLIDATED STATEMENT OF CASH FLOWS	CONSOLIDATED STATEMENT OF CASH FLOWS
	FOR THE YEAR ENDED 31JULY 2022
				2022	2021
			Note		F
Cash flows from operating	activities
Net cash used in operating	activities		24	154,226	(17,127)
Cash flows from investing	activities
Dividends, interests and rents from investments				39,941	40,469
Proceeds from the sale oftangible fixed assets				11,800	10,000
Purchase oftangible fixed assets				(330,774)	(135,409)
Movement of investments				198,983'	(2,671)
Net cash used in investing	activities			(80,050)	(87,611)
Change in cash and cash	equivalents in	the year		74,176	(104,738)
Cash and cash equivalents	at the beginning	ofthe year		325,199	429,937
Cash and cash equivalents	at the end of	the year	25	399,375	325,199
The notes on pages 19to 42 form part ofthese financial statements

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2022	2022	2022	2021
		f.	f'.
Donations		130,656	124,105	254,761	103,218
Grants		60,639	250,000	310,639	217,960
Government	grants				14,360
Total 2022		191,295	374,105	565,400	335,538
Total 2021		211,788	123,750	335,538

					Unrestricted	Total	Total
					funds	funds	funds
					2022f	2022 F	2021 F
Income	from the Education		and Skills Funding	Agency	1,259,795	1,259,795	1,048,258
Industry	contribution	towards stable staff training			1,098,912	1,098,912	1,053,631
Course	fees received				1,104,074	1,104,074	711,507
Total 2022					3,462,781	3,462,781	2,813,396
Total 2021					2,813,396	2,813,396

		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022	2021
Income from BRSTraining	Ltd	99,962	99,962	75,366
Total 2021		75,366	75,366

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2022	2022	2022	2021
Investment	income	26,208	13,733	39,941	40,469
Total 2021		26,427	14,042	40,469

		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022	2021
			E	F
Miscellaneous	income	56,616	56,616	40,481
Lease income		45,968	45,968	28,876
Rental income		77,860	77,860	70,849
Accommodation	charge income	78,122	78,122	74,671
Profit on disposal offixed assets		11,800	11,800	602
Total 2022		270,366	270,366	215,479
Total 2021		215,479	215,479

	Unrestricted	Restricted
	funds	funds	Total	Total
	2022	2022	2022	2021
Stable staff training	3,527,646	181,842	3,709,488	3,212,639
Other courses	735,559	75,147	810,706	658,010
Total 2022	4,263,205	256,989	4,520,194	3,870,649
Total 2021	3,650,529	220,120	3,870,649

	Staff costs	Depreciation	Other costs	Total	Total
	2022	2022	2022	2022	2021
				F
Stable staff training	1,745,839	378,790	1,584,859	3,709,488	3,212,639
Other courses	357,582	77,583	375,541	810,706	658,010
Total 2022	2,103,421	456,373	1,960,400	4,520,194	3,870,649
Total 2021	1,744,114	435,283	1,691,252	3,870,649

		Support	Total	Total
	- Direct costs	costs	funds	funds
	2022	2022	2022	2021
Stable staff training	2,975,456	734,032	3,709,488	3,212,639
Other courses	665,826	144,880	810,706	658,010
Tota I 2022	3,641,282	878,912	4,520,194	3,870,649
Total 2021	3,087,904	782,745	3,870,649

		Stable staff	Other	Total	Total
		training	courses	funds	funds
		2022	2022	2022	2021
		E
Staff costs		1,745,839	357,582	2,103,421	1,744,114
Direct costs		937,473	308,244	1,245,717	1,027,064
Horse costs		267,879		267,879	291,124
Governance	costs	24,265		24,265	25,602
Total 2022		2,975,456	665,826	3,641,282	3,087,904
Total 2021		2,562,621	525,283	3,087,904

							Stable staff	Other	Total	Total
							training	courses	funds	funds
							2022	2022	2022	2021
							E	E	E	E
	Depreciation						378,790	77,583	456,373	435,283
	Support costs						355,242	67,297	422,539	347,462
	Total 2022						734,032	144,880	878,912	782,745
	Total 2021						650,018	132,727	782,745
11.	Auditor's remuneration
									' 2022	2021
									E
	Fees payable	to the auditor		in respect of:
	Audit and preparation		ofthe	BRS	Education		Limited annual accounts		14,000	8,560
	Fees payable	to the auditor		in respect of:
	Audit and preparation		ofthe	BRS	Training	Limited annual accounts			5,200	5,000
	BRSTraining	I imited	corporation		tax fee				800	640
12.	Staffcosts
							Group	Group	Company	Company
							2022	2021	2022	2021
							E	E	E	E
	Wages and salaries						1,756,195	1,465,438	1,754,195	1,463,438
	Social security	costs					162,843	125,319	162,843	125,319
	Other pension	costs					184,383	153,357	184,383	153,357
							2,103,421	1,744,114	2,101,421	1,742,114

			Group	Group
			2022	2021
			No.	No.
Chief executive			1	1
Training	staff		39	29
Administrative		staff	16	16
Facilities	management		9	8
			65

Group	Group
2022	2021
No.	No.

	Freehold	Plant and	Motor	Fixtures and
	property	machinery	vehicles	fittings	Total
	E	E	K
Cost or valuation
At 1 August 2021	7,592,842	318,721	245,671	773,884	8,931,118
Additions	258,290	13,933	33,897	24,654	330,774
Disposals			(20,000)		(20,000)
At 31 July 2022	7,851,132	332,654	259,568	798,538	9,241,892
Depreciation
At 1 August 2021	4,682,801	300,518	198,856	751,467	5,933,642
Charge for the year	399,132	14,227	22,951	20,063	456,373
On disposals			(20,000)		(20,000)
At 31 July 2022	5,081,933	314,745	201,807	771,530	6,370,015
Net book value
At 31 July 2022	2,769,199	17,909	57,761	27,008	2,871,877
At 31 July 2021	2,910,041	18,203	46,815	22,417	2,997,476

			Rory
			MacDonald
		Investment	and James
Group		Funds	Harris Fund	Mellon Fundf	Total F
Cost or valuation
At 1 August 2021		1,907,399	152,284	647,702	2,707,385
Cash movement		(34,713)	(19,830)	(14,513)	(69,056)
Management fee		(11,504)	(470)	(4,235)	(16,209)
Investment income		26,208	6,085	7,648	39,941
Unrealised/realised	(losses)	(102,400)	(5,848)	(17,502)	(125,750)
Drawdown		(100,000)	(20,000)	(33,659)	(153,659)
At 31 July 2022		1,684,990	112,221	585,441	2,382,652
Net book value
At 31 July 2022		1,684,990	112,221	585,441	2,382,652
At 31 July 2021		1,907,399	152,284	647,702	2,707,385
Group Material Investments

				31July	Porffolio %
				2022	2022
UK Based	Equities			179,604	7.38
Non-UK Equities				1,009,473	41.48
UK Bonds				388,867	15.98
Non-UK Bonds				183,608	7.55
Alternatives	- structured	products	and other	671,881	27.61

		Investments		Rory
		in		MacDonald
		subsidiary	Investment	and James
Company		companies	Funds	Harris Fund f	Mellon Fund f	Totalf
Cost or valuation
At 1 August 2021		150,000	1,907,399	152,284	647,702	2,857,385
Cash movement			(34,713)	(19,830)	(14,513)	(69,056)
Management fee			(11,504)	(470)	(4,235)	(16,209)
Investment income			26,208	6,085	7,648	39,941
Unrealisedirealised	(losses)		(102,400)	(5,848)	(17,502)	(125,750)
Drawdown			(100,000)	(20,000)	(33,659)	(153,659)
At 31 July 2022		150,000	1,684,990	112,221	585,441	2,532,652
Net book value
At 31 July 2022		150,000	1,684,990	112,221	585,441	2,532,652
At 31 July 2021		150,000	1,907,399	152,284	647,702	2,857,385

		Group	Group	Company	Company
		2022f	2021f	2022f	2021
Merchandise	and bar stock	4,042	7,801
Animal feed	and bedding	7,990	13,493	7,990	13,493
		12,032	21,294	7,990	13,493

		Group	Group	Company	Company
		2022	2021	2022	2021
			F		F
Due within one year
Trade debtors		217,065	139,019	195,700	112,763
Amounts owed by group undertakings				72,686	82,476
Other debtors		7,356	5,693	568
Prepayments	and accrued income	181,155	160,370	158,110	136,234
		405,576	305,082	427,064	331,473

			Group	Group	Company	Company
			2022	2021	2022	2021
						F
Cash	for	investment	235,995	166,939	235,995	166,939

						Group	Group	Company	Company
						2022	2021	2022f	2021
Bank overdrafts						1,459	1,459	1,459	1,459
Trade creditors						118,497	53,267	114,536	51,640
Other taxation and			social security			44,984	45,994	44,984	45,994
Other creditors						68,495	64,877	68,495	64,877
Accruals	and deferred			income		442,070	467,443	429,846	451,306
						675,505	633,040	659,320	615,276
						Group	Group	Company	Company
						2022	2021	2022	2021
						E
Deferred	income at		1 August 2021			264,652	200,715	262,107	197,497
Resources deferred			during the year			281,958	264,652	370,659	262,107
Amounts	released	from previous			periods	(264,652)	(200,715)	(262,107)	(197,497)
						281,958	264,652	370,659	262,107

	Balance at 1			Transfers	Gains/	Balance at
	August 2021f	Income	Expenditure	in/out	(Losses)	31July 2022
Unrestricted
funds
Charitable
company and
subsidiary	3,290,422	4,050,612	(4,388,038)	53,659	(102,400)	2,904,255
Development
fund	15,420		(15,420)
	3,305,842	4,050,612	(4,403,458)	53,659	(102,400)	2,904,255
Restricted
funds
Building Fund	1,316,604		(133,586)			1,183,018
Mellon Fund	687,904	7,648	(4,235)	(33,659)	(17,502)	640,156
New Barn Fund	59,119		(8,294)			50,825
Rory MacDonald
and James
Harris Fund	153,113	6,085	(470)	(20,000)	(5,848)	132,880
Moiler Wing
conversion	35,267		(2,453)			32,814
Simulator Fund	2,400		(2,400)
Gym conversion	120,000					120,000
Recreation room	78,700					78,700
Front loader
(Godolphin)	6,231		(2,556)			3,675
The Newmarket
Pony Academy	81,061	124,105	(79,143)			126,023
ITsuite	15,000					15,000
Electric car
project		25,000	(2,160)			22,840
American barn
project		150,000	(6,775)			143,225
Childwick Trust		75,000	(19,622)			55,378
	, 2,555,399	387,838	(261,694)	(53,659)	(23,350)	2,604,534
Total offunds	5,861,241	4,438,450	(4,665,152)		(125,750)	5,508,789

Statement offunds	(continued)
Statement offunds	- prior year
	Balance at
	1 August				Transfers	Gains/	Balance at
	2020	Income	Expenditure		in/out	(Losses)	31 July 2021
		E			E	f.
Unrestricted
funds
Charitable
company and
subsidiary	3,392,508	3,342,456	(3,716,954)	.	56,205	216,207	3,290,422
Development
fund	105,644		(90,224)				15,420
	3,498,152	3,342,456	(3,807,178)		56,205	216,207	3,305,842
Restricted
funds
Building Fund	1,456,787		(140,183)				1,316,604
Mellon Fund	634,294	6,313	(4,182)		(36,205)	87,684	687,904
New Barn Fund	98,558		(39,439)				59,119
Rory MacDonald
and James
Harris Fund	149,508	7,729	(490)		(20,000)	16,366	153,113
Moiler Wing
conversion	37,720		(2,453)				35,267
Simulator Fund	9,600		(7,200)				2,400
Gym conversion	120,000						120,000
Recreation room	78,700						78,700
Front loader
(Godolphin)	8,787		(2,556)				6,231
The Newmarket
Pony Academy	600	108,750	(28,289)				81,061
ITsuite		15,000					15,000
	2,594,554	137,792	(224,792)		(56,205)	104,050	2,555,399
Total offunds	6,092,706	3,480,248	(4,031,970)			320,257	5,861,241

	Balance at 1	Balance at 1			Transfers	Gains/	Balance at
	August 2021f		Income f	Expenditure f	in/outf	(Losses) f	31July 2022 f
General funds		3,305,842	4,050,612	(4,403,458)	53,659	(102,400)	2,904,255
Restricted	funds	2,555,399	387,838	(261,694)	(53,659)	(23,350)	2,604,534
		5,861,241	4,438,450	(4,665,152)		(125,750)	5,508,789
Summary	offunds	- prior year
		Balance at
		1 August			Transfers	Gains/	Balance at
		2020	Income	Expenditure	in/outf	(Losses)	31July 2021
General funds		3,498,152	3,342,456	(3,807,178)	56,205	216,207	3,305,842
Restricted	funds	2,594,554	137,792	(224,792)	(56,205)	104,050	2,555,399
		6,092,706	3,480,248	(4,031,970)		320,257	5,861,241

Analysis Analysis	FOR THE YEAR ENDED 31 ofnet assets between funds ofnet assets between funds - current year	JULY 2022
		Unrestricted	Restricted	Total
		funds	funds	funds
		2022	2022	2022
		E
Tangible	fixed assets	1,533,257	1,451,402	2,984,659
Fixed asset investments		1,609,616	773,036	2,382,652
Current	assets	436,887	380,096	816,983
Creditors	due within one year	(675,505)		(675,505)
Total		2,904,255	2,604,534	5,508,789
Analysis	ofnet assets between funds - prior year
		Unrestricted	Restricted	Total
		funds	funds	funds
		2021	2021	2021
		F	E	F
Tangible	fixed assets	1,721,931	1,413,390	3,135,321
Fixed asset investments		1,866,368	841,017	2,707,385
Current	assets	350,583	300,992	651,575
Creditors	due within one year	(633,040)		(633,040)
		3,305,842	2,555,399	5,861,241

							Group	Group
							2022f	2021
	Net expenditure for	the year (as per Statement ofFinancial				Activities)	(352,452)	(231,465)
	Adjustments for:
	Depreciation charges						481,436	463,411
	(Gains)/losses on investments						125,750	(320,257)
	Investment income						(39,941)	(40,469)
	Profit on the sale of	fixed	assets				(11,800)	(602)
	Decrease in stocks						9,262	1.331
	Increase in debtors						(100,494)	(114,131)
	Increase in creditors						42,465	225,055
	Net cash provided	by/(used		in) operating	activities		154,226	(17,127)
25.	Analysis ofcash and cash			equivalents
							Group	Group
							2022f	2021
	Cash in hand						163,380	158,260
	Cash for investment						235,995	166,939
	Total cash and cash equivalents						399,375	325,199
26.	Analysis ofchanges in		net	debt
						At 1 August		At 31July
						2021	Cash flowsf	2022f
	Cash at bank and in	hand				158,260	5,120	163,380
	Bank overdraRS repayable		on demand			(1,459)		(1,459)
	Liquid investments					166,939	69,056	235,995
						323,740	74,176	397,916

The following	was a subsidiary undert	aking ofthe Company	:
Name		Company	Class of	Holding	Included	in
		number	shares		consolidation
BRSTraining	Limited	03501079	Ordinary	100%	Yes
The financial	results ofthe subsidiary	for the year were:
Name		Income	Expenditure	Profit for	Net	assets
			K	the year
BRSTraining	Limited	145,599	(121,486)	24,113	149,266