| Page | ||||
|---|---|---|---|---|
| Reference and administrative | details ofthe company, | its Trustees and advisers | ||
| Trustees' report |
2-6 | |||
| Independent | auditors' report |
on the financial statements | 7-10 | |
| Consolidated | statement offinancial activities |
|||
| Consolidated | balance sheet | 12 | ||
| Company balance sheet |
13 | |||
| Consolidated | statement ofcash flows |
14 | ||
| Notes to the | financial statements | 15-33 |
| Trustees | A Claytor | |||||
|---|---|---|---|---|---|---|
| A Dodds | ||||||
| J Porritt (resigned 18 | May 2020) | |||||
| T Levitt | ||||||
| L Melvin | ||||||
| J Bonehill | (appointed | 1 January 2021) | ||||
| Company | registered | |||||
| number | 08991099 | |||||
| Charity registered | ||||||
| number | and | Scottish | ||||
| Charity registered | ||||||
| number | 11618098 SC046556 | |||||
| Registered | office | Unit 8 | ||||
| Elm Court | ||||||
| Meriden Business Park | ||||||
| Copse Drive | ||||||
| Coventry | ||||||
| CV5 9RG | ||||||
| Company | secretary | C Bennett | ||||
| Independent | auditors | Bishop Fleming | LLP | |||
| Chartered | Accountants | |||||
| 1-3College Yard | ||||||
| Worcester | ||||||
| WR1 2LB |
| Unrestricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2020 | 2020 | 20'l9 | |||
| Note | E | E | |||
| INCOME FROM: | |||||
| Donations | 2,350,000 | 2,350,000 | 1,150,000 | ||
| Charitable activities |
11.189 | ||||
| Other trading activities |
4,075,442 | 4,07S,442 | 2,710,'i46 | ||
| Other income | 531,210 | 531,210 | 33,292 | ||
| TOTAL INCOME | 6,956,652 | 6,956,652 | 3,904.,627 | ||
| EXPENDITURE ON: | |||||
| Raising funds | 8 | 4,420,01S | 4,420,015 | 2,913,274 | |
| Charitable activities |
9 | (1,871) | (1„871} | 20,825 | |
| TOTAL EXPENDITURE | 4,418,144 | 4,418,144 | 2,934,099 | ||
| NET INCOME BEFORETAXATION | |||||
| 2,538,508 | 2,538,508 | 970,528 | |||
| Taxation | 14 | 20,246 | |||
| NET MOVEMENT | IN FUNDS | 2,538,508 | 2,538,508 | 990,774 | |
| RECONCILIATlON | OF FUNDS: | ||||
| Total funds brought | forward | (864,522) | (864,522} | {1,855,296} | |
| Net movement in funds |
2,538,508 | 2,538,508 | 990,774 | ||
| TOTAL FUNDS CARRtED FORWARD | 1,673,986 | 1,673,986 | (864,522) |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| 6 | ||||||
| FIXEDASSEl'S | ||||||
| tntangiblo assets |
249,008 | 149t}39 | ||||
| Tangible assets | 16 | 41,249 | I3.680 | |||
| 290257 | 1h2,728 | |||||
| CURRENT ASSETS | ||||||
| Debtors | 17 | 7.475,154 | .'k519,199 | |||
| Cash at bank and in hand | 588 743 | |||||
| ( rcditors: amounts | falkng due within orw | |||||
| year | 18 | (1.785.492} | (1,520.t}53} | |||
| NET CURRENT ASSETS | 6,278,405 | 4,072,TN | ||||
| TOTAL ASSETS LESSCURRENT | ||||||
| LIABIUTIES | 6,568,662 | 4,23547' | ||||
| Creditors: amounts | falling due after ntore | |||||
| than one year | 19 | (47894,676] | (5.ta .f}0C} |
|||
| NET ASSETS I LIABII fTES EXCLUDING | ||||||
| PENSION ASSET | 'l,673.986 | !864,;ip:)} | ||||
| TOTAL NET ASSETS | 1,673,986 | j(kM,522} | ||||
| CHARITY FUNDS | ||||||
| Restncted funds |
21 | |||||
| Unreshicted funds |
21 | 'I.673.986 | nu. a sp )1 | |||
| TOTAL FUNDS | 1,673,986 | (864,522} |
| 2019 | ||||||
|---|---|---|---|---|---|---|
| Note | ||||||
| FIXEDASSETS | ||||||
| Tangible assets | ||||||
| 15&t | ||||||
| CURRENT ASSETS | ||||||
| Debtors | 1,093 | 7.625 | ||||
| Cash al bank and | in hand | 9.157 | 86 | |||
| 10,250 | i,gt '. | |||||
| CrediterS. amoitnts | falling due within one year | 18 | (2,570) | (534 &1 | ||
| NFT CURRENT ASSETS | 2,566 | |||||
| TOTAL ASSETS | LESSCL!RRENT | |||||
| UABILtTIES | 7„680 | |||||
| NET ASSETS | 7,680 | 2.724 | ||||
| TOTAL NET ASSETS | 7,680 | 2,724 | ||||
| CHARITY FUNDS | ||||||
| Rearmed funds |
21 | |||||
| Unrestricted funds |
21 | 7,680 | 2 724 | |||
| TOTAL FVNDS | 7,680 | 2 724 |
| Unrestricted | Total | Total | |||||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | |||||||
| 2020 | 2020 | 2019 | |||||||
| F | F | E | |||||||
| Other | income | 2,350,000 | 2,350,000 | 1,150,000 | |||||
| 5. | INCOME | FROM CHARITABLE ACTIVITIES | |||||||
| Unrestricted | Total | Total | |||||||
| funds | funds | funds | |||||||
| 2020 | 2020 | 2019 | |||||||
| F | E | E | |||||||
| Grant | income | 11,189 | |||||||
| 6. | INCOME | FROM OTHER TRADING ACTIVITIES | |||||||
| Income from non charitable | trading | activities | |||||||
| Unrestricted | Total | Total | |||||||
| funds | funds | funds | |||||||
| 2020 F |
2020f | 2019 F |
|||||||
| Sales | 1,576,140 | 1,576,140 | 192,400 | ||||||
| Trading | income | 2,499,302 | 2,499,302 | 2,517,746 | |||||
| 4,075,442 | 4,075,442 | 2,710,146 | |||||||
| TOTAL 2019 | 2,710,146 | 2,710,146 | |||||||
| 7. | OTHER INCOMING RESOURCES | ||||||||
| Unrestricted | Total | Total | |||||||
| funds | funds | funds | |||||||
| 2020 | 2020 | 2019 | |||||||
| E | F | ||||||||
| Other operating | income | 531,210 | 531,210 | 33,292 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2020 | 2020 | 2019 | ||
| E | ||||
| Trading expenses | 3,060,579 | 3,060,579 | 2,068,054 | |
| Staff costs | 924,535 | 924,535 | 612,410 | |
| Depreciation | and amortisation | 62,328 | 62,328 | 25,852 |
| Cost ofsales | 347,025 | 347,025 | 193,456 | |
| Administration | expenses | 12,063 | 12,063 | 13,502 |
| Administration | staff costs | 13,485 | 13,485 | |
| 4,420,015 | 4,420,015 | 2,913,274 | ||
| TOTAL2019 | 2,913,274 | 2,913,274 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2020 | 2020 | 2019 | ||
| F | ||||
| Support | costs | (1,871) | (1,871) | 20,825 |
| TOTAL | 2019 | 20,825 | 20,825 |
| Total | Total | ||||
|---|---|---|---|---|---|
| Depreciation | Other costs | funds | funds | ||
| 2020 | 2020 | 2020 | 2019 | ||
| E | E | E | E | ||
| Support | costs | 158 | (2,029) | (1,871) | 20,825 |
| TOTAL | 2019 | 4,418 | 16,407 | 20,825 |
| Support | Total | Total | ||
|---|---|---|---|---|
| costs | funds | funds | ||
| 2020 | 2020 | 2019 | ||
| E | E | E | ||
| Charitable | activities | (1,871) | (1,871) | 20,825 |
| TOTAL 2019 | 20,825 | 20,825 | ||
| Analysis | ofsupport costs |
| Total | Total | |
|---|---|---|
| funds | funds | |
| 2020 | 2019 | |
| E | E | |
| Depreciation | 158 | 4,418 |
| Audit fees | (2,769) | 2,520 |
| Legal and professional | 36 | 1,812 |
| Insurance | 626 | 842 |
| General costs | 78 | 213 |
| Amortisation | 11,020 | |
| (1,871) | 20,825 |
| AUDITORS' REMUNERATION | |||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| F | |||||
| Fees payable to the company's | auditor | for | the audit ofthe company's | ||
| annual accounts |
17,500 | 16,200 | |||
| Fees payable to the company's | auditor | in | respect of: | ||
| All taxation advisory services not included |
above | 1,600 | 1,575 |
| Group | Group | ||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| F | |||||
| Wages and | salaries | 792,588 | 531,665 | ||
| Social security costs | 89,721 | 56,355 | |||
| Contribution | to defined | contribution | pension schemes | 55,711 | 24,390 |
| 938,020 | 612,410 |
| Group | Group | |
|---|---|---|
| 2020 | 2019 | |
| No. | No. | |
| Employees | 27 | 19 |
| Group | Group |
|---|---|
| 2020 | 2019 |
| No. | No. |
| 2020 | 2019 | |
|---|---|---|
| F | ||
| CORPORATION TAX |
||
| Current tax on net income for the year | (20,246) | |
| TAXATION ON NET INCOME | (20,246) |
| 2020 | 2019 | ||||||
|---|---|---|---|---|---|---|---|
| Net income before tax | 2,538,508 | 970,528 | |||||
| Net income multiplied | by the standard | rate ofcorporation | tax in the UK of19 | ||||
| (2019 - 19%). | 482,317 | 184,400 | |||||
| EFFECTSOF: | |||||||
| Non-tax deductible amortisation and |
impairment | of | goodwill | 9,255 | |||
| Capital allowances for |
year in excess | ofdepreciation | (207) | ||||
| Utilisation of brought forward losses |
(187,106) | (204,646) | |||||
| Other differences leading to an increase/(decrease) |
in the | tax charge | (304„259) | ||||
| TOTAL TAX CHARGE | FOR THE YEAR | (20,246) |
| Development | |
|---|---|
| f. | |
| COST | |
| At 1 January 2020 | 232,472 |
| Additions | 154,411 |
| At 31 December 2020 | 386,883 |
| AMORTISATION | |
| At 1 January 2020 | 83,433 |
| Charge for the year | 54,442 |
| At 31 December 2020 | 137,875 |
| NET BOOK VALUE | |
| At 31 December 2020 | 249,008 |
| At 31 December 2019 | 149,039 |
| Company | |
| Development | |
| COST | |
| At 1 January 2020 | 53,601 |
| At 31 December 2020 | 53,601 |
| AMORTISATION | |
| At 1 January 2020 | 53,601 |
| At 31 December 2020 | 53,601 |
| NET BOOK VALUE | |
| At 31 December 2020 | |
| At 31 December 2019 |
| Fixtures and | Office | Computer | ||
|---|---|---|---|---|
| fittings | equipment | equipment | Total | |
| COST OR VALUATION | ||||
| At 1 January 2020 | 17,443 | 6,103 | 17,242 | 40„788 |
| Additions | 35,604 | 35,604 | ||
| At 31 December 2020 | 53,047 | 6,103 | 17,242 | 76,392 |
| DEPRECIATION | ||||
| At 1 January 2020 | 3,912 | 6,091 | 17,096 | 27,099 |
| Charge for the year | 7,886 | 12 | 146 | 8,044 |
| At 31 December 2020 | 11,798 | 6,103 | 17,242 | 35,143 |
| NET BOOK VALUE | ||||
| At 31 December 2020 | 41,249 | 41,249 | ||
| At 31 December 2019 | 13,531 | 12 | 146 | 13,689 |
| Office | Computer | ||
|---|---|---|---|
| equipment f |
equipment E |
Total E |
|
| COST OR VALUATION | |||
| At 1 January 2020 | 6,103 | 17,242 | 23,345 |
| At 31 December 2020 | 6,103 | 17,242 | 23,345 |
| DEPRECIATION | |||
| At 1 January 2020 | 6,091 | 17,096 | 23,187 |
| Charge for the year | 12 | 146 | 158 |
| At 31 December 2020 | 6,103 | 17,242 | 23,345 |
| NET BOOK VALUE | |||
| At 31 December 2020 | |||
| At 31 December 2019 | 12 | 146 | 158 |
| Group | Group | Company | Company | ||
|---|---|---|---|---|---|
| 2020f | 2019 | 2020 | 2019 E |
||
| DUE AFTER | MORE THAN ONE YEAR | ||||
| Other debtors | 21,019 | ||||
| Prepayments | and accrued income | 40,323 | |||
| 61,342 | |||||
| DUE WITHIN | ONE YEAR | ||||
| Trade debtors | 279,149 | 237,178 | |||
| Amounts owed by group undertakings |
623 | 7,349 | |||
| Other debtors | 7,106,141 | 5,040,174 | 6 | ||
| Prepayments | and accrued income | 89,864 | 160,259 | 470 | 470 |
| Tax recoverable | 20,246 | ||||
| 7,475,154 | 5,519,199 | 1,093 | 7,825 |
| CREDITORS: AMOU | NTS | FALLING DUE WITHIN ONE YEAR | FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|---|---|
| Group | Group | Company | Company | |||
| 2020f | 2019 | 2020 f |
2019 | |||
| Bank loans | 5,324 | |||||
| Other loans | 250,000 | |||||
| Trade creditors | 1,146,387 | 1,097,954 | ||||
| Other taxation and social | security | 199,422 | 57,303 | |||
| Accruals and deferred | income | 184,359 | 365,596 | 2,570 | 5,345 | |
| 1,785,492 | 1,520,853 | 2,570 | 5,345 |
| Balance at | ||||
|---|---|---|---|---|
| Balance at 1 | 31 | |||
| January | December | |||
| 2020 | Income | Expenditure | 2020 | |
| E | E | f. | ||
| UNRESTRICTED FUNDS | ||||
| General Funds - all funds | (2,014,522) | 4,606,652 | (4,418,144) | (1,826,014) |
| Other income | 1,150,000 | 2,350,000 | 3,500,000 | |
| (864,522) | 6,956,652 | (4,418,144) | 1,673,986 |
| STATEMENT OF FUNDS - P | RIOR YEAR | ||||
|---|---|---|---|---|---|
| Balance at | Balance at | ||||
| 1 January | 31 | ||||
| 2019(as | December | ||||
| restated) E |
Income E |
Expenditure E |
Taxationf | 2019 E' |
|
| UNRESTRICTED FUNDS | |||||
| General funds | (1,855,296) | 2,754,627 | (2,934,099) | 20,246 | (2,014,522) |
| Other income | 1,150,000 | 1,150,000 | |||
| (1,855,296) | 3,904,627 | (2,934,099) | 20,246 | (864,522) |
| Balance at | |||||
|---|---|---|---|---|---|
| Balance at 1 | 31 | ||||
| January | December | ||||
| 2020 F |
Income f |
Expenditure | 2020 E |
||
| General | funds | (864,522) | 6,956,652 | (4,418,144) | 1,673,986 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at | 31 | |||||
| 1 January | December | |||||
| 2019 | Income | Expenditure | Taxation | 2019 | ||
| F | F | |||||
| General | funds | (1,855,296) | 3,904,627 | (2,934,099) | 20,246 | (864,522) |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2020 | 2020 | ||
| E | |||
| Tangible | fixed assets | 41,249 | 41,249 |
| Intangible | fixed assets | 249,008 | 249,008 |
| Current assets | 8,063,897 | 8,063,897 | |
| Creditors | due within one year | (1,785,492) | (1,785,492) |
| Creditors | due in more than one year | (4,894,676) | (4,894,676) |
| TOTAL | 1,673,986 | 1,673,986 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2019 | 2019 | ||
| E | F | ||
| Tangible | fixed assets | 13,689 | 13,689 |
| Intangible | fixed assets | 149,039 | 149,039 |
| Debtors | due after more than one year | 61,342 | 61,342 |
| Current assets | 5,532,261 | 5,532,261 | |
| Creditors | due within one year | (1,520,853) | (1,520,853) |
| Creditors | due in more than one year | (5,100,000) | (5,100,000) |
| TOTAL | (864,522) | (864,522) |
| Group | Group | |||
|---|---|---|---|---|
| 2020 | 2019 | |||
| E | f. | |||
| Net income | for the period (as per Statement | of Financial Activities) | 2,538,508 | 990,774 |
| ADJUSTMENTS FOR: | ||||
| Depreciation | charges | 8,044 | 7,357 | |
| Amortisation | charges | 54,442 | 33,931 | |
| Increase in |
debtors | (1,955,955) | (1,804,351) | |
| Increase in |
creditors | 264,639 | 830,926 | |
| Perpetual bond transfer |
(2,350,000) | (1,150,000) | ||
| NET CASH | USED IN OPERATING ACTIVITIES | (1,440,322) | (1,091,363) |
| Group | Group | |||
|---|---|---|---|---|
| 2020 | 2019 | |||
| F | ||||
| Cash | in | hand | 588,743 | 74,404 |
| At 1 | Other non- | At 31 | ||||
|---|---|---|---|---|---|---|
| January | cash | December | ||||
| 2020 | Cash flows | changes | 2020 | |||
| E | ||||||
| E | ||||||
| Cash | at bank and | in hand | 74,404 | 514,339 | 588,743 | |
| Debt | due within 1 |
year | (5,324) | (250„000) | (255,324) | |
| Debt | due after 1 year | (5,100,000) | (44,676) | 250,000 | (4,894,676) | |
| (5,025,596) | 464,339 | (4,561,257) |
| payments | und | er non-cancellable operating lease |
s as follows: | |||
|---|---|---|---|---|---|---|
| Group | Group | Company | Company | |||
| 2020f | 2019 E |
2020 E |
2019 F |
|||
| Not later than | 1 year | 33,090 | 28,500 | 33,090 | 28,500 | |
| Later than | 1 year and not later than 5 years | 42,750 | 71,250 | 42,750 | 71,250 | |
| 75,840 | 99,750 | 75,840 | 99,750 |