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2021-01-31-accounts

THE JD FOUNDATION

TRUSTEES’ REPORT AND AUDITED ACCOUNTS

Registered charity number 1167090 Company number 09808812 For the year ended 31 January 2021

THE JD FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Traci Corrie Neil Greenhalgh Nigel Keen Siobhan Mawdsley Dan Finley Nicola Kowalczuk (appointed 25 June 2020)

Chairman Traci Corrie Secretary Siobhan Mawdsley Company Number 09808812 Charity Number 1167090 Auditors Barlow Andrews LLP Carlyle House 78 Chorley New Road Bolton BL1 4BY Bankers Barclays 43 High Street Sutton Surrey SM1 1DR Solicitors DLA Piper UK LLP Princes Exchange Princes Square Leeds LS1 4BY Addleshaw Goddard LLP One St Peter’s Square Manchester M2 3DE Registered Office Edinburgh House Hollinsbrook Way Pilsworth Bury Lancashire BL9 8RR

THE JD FOUNDATION CONTENTS

Page
Trustees’ report 1 - 4
Statement of trustees’ responsibilities 5
Independent auditor’s report 6 - 8
Statement of fnancial activities 9
Balance sheet 10
Statement of cashfows 11
Notes to the accounts 12 - 16

THE JD FOUNDATION TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JANUARY 2021

The Trustees present their annual report and financial statements for the year ended 31 January 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Charities Act 2011 and "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)".

Structure, governance and management

Trustees

The trustees who served during the period were:

Traci Corrie Neil Greenhalgh Nigel Keen Siobhan Mawdsley Dan Finley Nicola Kowalczuk (appointed 25 June 2020)

Governing Document

The JD Foundation was incorporated on 4 October 2015 as a company limited by guarantee and is governed by its memorandum and articles of association. The company was subsequently registered as a charity with the Charity Commission on 13 May 2016.

The directors are trustees for the purposes of charity law and in this report are collectively referred to as the trustees. Responsibility for The JD Foundation’s direction and affairs lies with the trustees.

Appointment of trustees, induction and training

The skill requirements for the trust body are reviewed and any vacancy arising is filled by consensus amongst the remaining trustees to meet the necessary criteria. When new trustees are appointed they are given an introduction to the work of the trust and provided with the information needed to fulfil their roles, which includes information about the role of trustees and charity law. Meetings take place at least twice a year to review the charity’s financial matters and general operating management.

Objectives and activities

The JD Foundation’s mission is to support youth charities working with disadvantaged young people affected by circumstance or illness.

Principal funding sources

The trust has 2 principal sources of income:

Charities Supported

This income is then applied as follows:

1

THE JD FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2021

The JD Foundation’s nominated charities during the year to 31 January 2021 were:

Financial review

The Statement of Financial Activities for the period is set out on page 9. Financial accounts are reviewed by all trustees regularly and the annual financial statements are subject to audit by registered auditors.

Achievements during the year

The period covered by this report and attached financial statements is 1 February 2020 to 31 January 2021. During this period the activity of The JD Foundation comprised the receipt of income from JD Sports Fashion Plc of £631,098 (2020: £464,700) and subsequent donations to the nominated youth and environmental charities of £397,724 (2020: £438,316).

During the year, we continued to support numerous organisations through our charitable donations, as outlined above and in note 5 to the accounts.

The Foundation produce a Social Impact Report guided by what our charities had to say about us and the support we had given to them individually. It was clear that we had achieved a positive lasting impact on our partner charities and alongside their recommendations we will continue to improve and develop The JD Foundation.

Impact of COVID-19

Due to the UK lockdown, all JD Sports Fashion Plc stores were closed for part of the financial year, with no carrier bag sales in April and May 2020. However, this has been mitigated by an increase in price of carrier bags when stores re-opened and an increase in income from staff fundraising.

Principle funding source

The trust is dependent on all income net of VAT arising from the sale of single use carrier bags in stores in England, Scotland and Wales and colleague donations and fundraising.

Plans for the future

The trustees are committed to ensuring that the charity continues the activities outlined above in the forthcoming 12 months subject to satisfactory funding arrangements.

The JD Foundation have had an exciting five years; during which we have supported over 18 charity partners, succeeding in making a difference to the young people within our community. We have had a fantastic response from internal personnel supporting our school mentoring programme and with

2

THE JD FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2021

volunteering opportunities across numerous charity partners. The Foundation recognise the need to look forward, this involves us looking at what we can do better and ensure sustainability and that of our partners. This focus on sustainability is at the core of our future strategy and we will work to ensure that both the Foundation and its charity partners are equipped to achieve this.

Strategy is critical to our continued success. Embedding the parent company (JD Sports Fashion Plc) values into our strategy is key to enable us to continue to grow and support our younger generation through sometimes difficult and often emotional times in their lives. The insights given by our charity partners and internal consultations have enabled us to establish a number of goals and operational aims that we would like to focus on as part of our 2 year plan: Goal 1: Strengthen our culture

Goal 2: Further our reach

Goal 3: Create sustainable charity partners

The sustainability of our planet and the risks of modern slavery are wider issues affecting more than just the countries we live in and are embedded in the values of our parent company, JD Sports Fashion Plc and as part of the Foundation strategy, we will support these areas in the JD business and work to include them within our charity.

The Foundation and JD, working together and supporting each other, will create a more sustainable organisation for ourselves and our charity partners.

Money does not always solve the problem and as a charity within a very successful business, we have opportunities to support in many different ways: training courses through our Academy, work experience, exploring job opportunities within the business and utilising the many skills of our employees who have shown very willing to give their time to all of our charity partners.

Reserves

The trustees have reviewed the reserves of the trust. The policy is to meet its commitments given to specific nominated charities each year. Unrestricted funds total £263,492 and there are no restricted funds at 31 January 2021.

The trustees confirm that they are ultimately accountable for setting and monitoring the level of reserves kept by the JD Foundation and will keep the reserves policy under review to ensure it remains appropriate.

Risk Factors

The trustees have assessed the major risks to which The JD Foundation is exposed and have established systems and procedures to manage them. In particular fraud and financial control are kept under review. The trustees believe that all major risks are mitigated.

Related Parties

The JD Foundation receives its income from, but is independent of, JD Sports Fashion Plc. The trustees take all decisions in the best interests of the furtherance of the charity and its charitable objectives.

Public benefit statement

The trustees confirm that The JD Foundation complied with the Charities Act 2011 in the period.

Each year, the trustees review the objectives and activities of the charity to ensure that they continue to reflect their aims and provide a public benefit. The trustees are satisfied that they do.

3

THE JD FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2021

The trustees have paid due regard to guidance issued by the Charity Commission in relation to activities for the public benefit in deciding what activities the charity should undertake.

Disclosure of information to the auditors

So far as we are aware, there is no relevant audit information of which The JD Foundation’s auditor is unaware and we have taken all steps that we ought to have taken as trustees to make ourselves aware of any relevant audit information.

Auditors

A resolution for the reappointment of Barlow Andrews LLP as auditors is to be proposed at the forthcoming Annual General Meeting. The trustees recommend that Barlow Andrews LLP remain in office until further notice.

I declare in my capacity of charity trustee that the trustees have approved the report above and have authorised me to sign it on their behalf.

................................................................... Signed by Neil Greenhalgh, Trustee

20 October 2021

4

THE JD FOUNDATION STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 JANUARY 2021

United Kingdom law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the incoming resources and application of the resources of the charity during the year and of its state of affairs at the end of the year. In preparing the accounts the trustees should follow best practice and:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ascertain its financial position and to ensure that the accounts comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

5

THE JD FOUNDATION

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE JD FOUNDATION

Opinion

We have audited the financial statements of The JD Foundation for the year ended 31 January 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit

6

THE JD FOUNDATION

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE JD FOUNDATION

7

THE JD FOUNDATION

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE JD FOUNDATION

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial sta tements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

8

THE JD FOUNDATION

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE JD FOUNDATION

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify noncompliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

David Kay FCA (Senior Statutory Auditor) For and on behalf of Barlow Andrews LLP

20 October 2021

Chartered Accountants and Statutory auditors

Carlyle House 78 Chorley New Road Bolton BL1 4BY

9

THE JD FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2021

Note
s
Income from:
Donations
2
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net Income/
(expenditure)
Transfers between
funds
Net movement in
funds
Fund balances brought
forward
Fund balances
carried
forward		 Unrestrict
ed Funds
Designate
d Funds
Total
2021
Unrestrict
ed funds
Designat
ed Funds
Total
2020
£
£
£
£
£
£
571,780
59,318
631,09
8
370,749
93,951
464,700
571,780
59,318
631,09
8
370,749
93,951
464,700
(361,075)
(59,318)
(420,3
93)
(427,040)
(93,951)
(520,99
1)
(361,075)
(59,318)
(420,3
93)
(427,040)
(93,951)
(520,99
1)
210,705
-
210,70
5
(56,291)
-
(56,291)
-
-
-
-
-
-
210,705
-
210,70
5
(56,291)
-
(56,291)
52,787
-
52,787
109,078
-
109,078
263,492
-
263,49
2
52,787
-
52,787

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. The charity has no recognised gains or losses other than the net movement in funds in the period. All results derive from continuing activities.

The notes on pages 12 to 16 form part of these financial statements.

10

THE JD FOUNDATION BALANCE SHEET AS AT 31 JANUARY 2021

Notes
Current Assets
Debtors
6
Cash at bank and in hand
Current Liabilities
Creditors
7
Total Net Assets
The Funds of the Charity
Designated Funds
9
Unrestricted Funds
9
Total Charity Funds
9		 2021
£
100,06
0
187,79
9
287,85
9
(24,36
7)
263,49
2
-
263,49
2
263,49
2		 2020
£
19,972
279,38
2
299,35
4
(246,5
67)
52,787
-
52,787
52,787

The accounts were approved by the Board of Trustees on 20 October 2021 and signed on its behalf by:

………………………………………………

Signed by Neil Greenhalgh, Trustee, on behalf of the Board of Trustees

11

THE JD FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2021

Notes
Cash fows from operating activities
Net cash (outfow)/infow from operating activities
10
Net cash used in investing activities
Net cash used in fnancing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2021
2020
£
£
(91,583)
190,943
-
-
-
-
(91,583)
190,943
279,382
88,439
187,799
279,382

12

THE JD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2021

1. Accounting policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements.

Company information

The JD Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Edinburgh House, Hollinsbrook Way, Bury, BL9 8RR.

Basis of preparation

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Charities Act 2011 and "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)".The charity is a Public Benefit Entity as defined by FRS 102.

The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the regulations but which has since been withdrawn.

The accounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared on a going concern basis and on a historical cost basis under the accrual concept other than as stated below.

Going concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts. There are no material uncertainties about the charity’s ability to continue.

Funds

Unrestricted funds are funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity.

Designated funds are those which have been set aside for specific expenditure, at the discretion of the charity.

Incoming resources

These are included in the Statement of Financial Activities (SOFA) when:

  1. the charity becomes legally entitled to the benefit of use of the resources;

  2. an inflow of economic benefit is probable; and

  3. the monetary value can be measured with sufficient reliability.

Resources expended

Liabilities are recognised as soon as an outflow of economic benefit is probable.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Grants payable are accounted for when the trustees have accepted a legal or moral obligation and accounted for as resources expended in the Statement of Financial Activities. Governance costs include costs of the preparation and examination of statutory accounts.

Cash and cash equivalents

13

THE JD FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2021

Cash and cash equivalents include cash in hand and deposits held at call with banks.

Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity’s balance sheet 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.

Basic financial assets

Basic financial assets, which includes cash and bank balances, are measured at transaction price.

Other financial assets

Financial assets classified as other financial assets are stated at fair value with any gains or losses arising on remeasurement recognised in the statement of financial activities.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, which include other creditors, are recognised at transaction price.

2. Income from charitable activities

Donations from JD Sports Fashion Plc
Donations from JD Sports Fashion Plc staf fundraising		 Unrestricte
d Funds
Designat
ed Funds
Total
2021
£
365,076
59,318
424,394
206,704
-
206,704
571,780
59,318
631,098

The donations made by JD Sports Fashion Plc mainly relate to the income generated from the sale of carrier bags in the JD, Size, Scotts, Tessuti, Blacks, Millets and Ultimate Outdoors retail fascias in England, Scotland and Wales.

Comparative period:
Donations from JD Sports Fashion Plc
Donations from JD Sports Fashion Plc staf fundraising		 Unrestricte
d Funds
Designat
ed Funds
Total
2020
£
281,853
93,951
375,804
88,896
-
88,896
370,749
93,951
464,700

14

THE JD FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2021

3. Trustees and employees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period. The foundation had two employees during the year (2020: two). The employees are employed by JD Sports Fashion Plc and wage costs are recharged to The JD Foundation.

Year ended Year ended
31 January 31 January
2021 2020
£ £
Wages and salaries 16,229 41,728

4. Related parties and related party transactions

There were no related party transactions during the year ended 31 January 2021 (2020: none).

5. Expenditure on charitable activities

Expenditure on charitable activities was primarily charitable donations. During the year the trust made 20 donations (2020: 29) to the Foundation’s nominated charities, in addition to the quarterly donations to the Mountain Rescue England and Wales and Scottish Mountain Rescue. Further donations are analysed by sector.

Donations
Mountain Rescue
Youth
Health
Social Services
Employment
Other
Support costs
Staf costs (note 3)
Other support costs
Governance costs
Audit fees		 2021
£
2020
£
59,318
93,951
159,850
187,979
73,419
104,008
42,637
39,750
-
2,159
62,500
10,469
397,724
438,316
16,229
41,728
3,560
37,827
19,789
79,555
2,880
3,120

15

THE JD FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2021

Total charitable expenditure 420,393 420,393 520,991 520,991
‘Other’ donations include donations for memorials and fundraising events.
6.
Debtors
2021 2020
£ £
Prepayments and accrued income 100,0
60		 19,972
Debtors include income due to the charity at the period end.
7.
Creditors
2021 2020
£ £
Accruals and deferred income 24,36
7		 246,5
67
Creditors include expenditure committed by the charity but not paid at the period end.
8.
Financial instruments
2021 2020
£ £
Carrying amount of fnancial assets
Measured at amortised cost 187,7
99		 279,3
82
2021 2020
£ £
Carrying amount of fnancial liabilities
Measured at amortised cost 24,36
7		 246,5
67
9.
Movement in funds
Funds
Balance
brought
forward
01.02.20		 Movement in funds
Income
Expenditure		 Transfers Balance
carried
forward
31.01.21
Designated Funds
-		 59,318 (59,318) - -
Unrestricted Funds
52,787		 571,780 (361,075) - 263,492

16

THE JD FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2021

Total Funds 52,787 631,098 (420,393) - 263,492

Unrestricted funds are represented by total net assets.

9. (cont.) Comparative period:

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Balance|Balance| |Movement in funds| |brought|carried| |Funds| |forward|forward| |Income|Expenditure|Transfers| |01.02.19|31.01.20| |-|-|-| |Designated Funds|93,951|(93,951)| |Unrestricted Funds|109,078|370,749|(427,040)|-|52,787| |Total Funds|109,078|464,700|(520,991)|-|52,787| |10.|Cash generated|from operations| |2021|2020| |£|£| |Net income/(expenditure) for the period|210,70|(56,29| |5|1)| |Movement in working capital:| |(Increase)/decrease in debtors|(80,08| |8,849| |8)| |(Decrease)/increase in creditors|(222,2| |238,38| |00)| |5| |Cash (absorbed)/generated by operations|(91,58|190,94| |3)|3| |11.|Analysis of net assets between funds|

----- End of picture text -----

All funds are unrestricted in this year and in the previous year.

17