2023-11-30-accounts

CHARITY REGISTRATION NUMBER: 1167488

ADVANCE EDUCATION CENTRE (LONDON) Unaudited Financial Statements

30 November 2023

RMR PARTNERSHIP LLP

Chartered accountants 3rd Floor, Vyman House 104 College Road Harrow Middlesex HA1 1BQ

ADVANCE EDUCATION CENTRE (LONDON)

Financial Statements

Year ended 30 November 2023

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	6
Statement of financial activities	7
Statement of financial position	8
Notes to the financial statements	9
The following pages do not form part of the financial statements
Detailed statement of financial activities	17

ADVANCE EDUCATION CENTRE (LONDON)

Trustees' Annual Report

Year ended 30 November 2023

The trustees present their report and the unaudited financial statements of the charity for the year ended 30 November 2023.

Reference and administrative details

Registered charity name

ADVANCE EDUCATION CENTRE (LONDON)

Charity registration number 1167488 Principal office Unit 5, Unimix House Abbey Road London Brent NW10 7TR

The trustees

Independent examiner

MS Latifah Beccan Mrs Betty Uzokwe BU Mr Charles Martin Mahendra Pattni RMR Partnership LLP 3rd Floor, Vyman House 104 College Road Harrow Middlesex HA1 1BQ

Structure, governance and management

The CIO is governed by its constitution,6 June 2016.

Organisational Management

The trustees of the charity are legally responsible for the overall management and control of the school. The trustees meet in formal session as a board three times a year

The day to day running of the school is delegated to the head teacher Mrs Mujanet Danisah, who is supported by the trustees and the senior school teachers. The head teacher attends all the meetings of the trustees.

Remuneration is set by the Board of trustees, with the policy objective of rewarding fairly and responsibly individual contributions to the school's success.

We aim to recruit, subject to the expenditure, at the lower to medium point within our basic salary scale for teachers. Delivery of the school's charitable vision and purpose is primarily dependant on our key leadership personnel and staff costs are the largest elements of our charitable expenditure.

1

ADVANCE EDUCATION CENTRE (LONDON)

Trustees' Annual Report (continued)

Year ended 30 November 2023

Structure, governance and management (continued)

Employment Policy

The school is an equal opportunities employer. Full and fair consideration is given to job applications from disabled personas and due considerations are given to their training and employment needs.

We aim to recruit, subject to experience, at the lower to medium point within our basic salary scale for teachers. Delivery of the school's charitable vision and purpose is primarily dependant on our key leadership personnel and staff costs are one of the largest elements of our charitable expenditure.

The school is an equal opportunities employer. Full and fair consideration is given to job applications from disabled personas and due considerations is given to their training and employment needs.

2

ADVANCE EDUCATION CENTRE (LONDON)

Trustees' Annual Report (continued)

Year ended 30 November 2023

Objectives and activities

The charities objects, are set out in the CIO's Constitution, is the advancement of education in Brent and the neighbourhood without the distinction of gender, sexual orientation, political or other opinions by associating together with the said residents and local authorities. Within this context the trustees are mindful of the charities act 2011 and they have closely monitored the long-standing need to provide public benefit and the commission's supplemental guidance on fee charging.

Intended Impact

Within its charitable objects, the school's intention is to provide a first-class education through strong teaching and learning and by developing broader skills that enable every pupil to realise his or her potential to the full.

Our aims

The schools aim for the public benefit are to:

-Advancement of education (including social and physical activities) of boys and girls

-Ensure that al pupils achieve the best possible academic results.

Provide structured education environment that develops pupils' capabilities, competence skills

Primary objectives

The primary objectives of the school to fulfil these aims are to:

• to broaden our academic curriculum and extend the range of teaching strategies

• to enhance and improve the co-curricular provision for pupils

• to continue to develop the quality of teaching we provide for pupils

• to increase pupil numbers at our school

• to provide continuing support of our pupils already in receipt of fee assistance

• to develop our 'Teaching and learning holistically

• to play our part in the life of our local community through our community cohesion and service programmes.

3

ADVANCE EDUCATION CENTRE (LONDON)

Trustees' Annual Report (continued)

Year ended 30 November 2023

Achievements and performance

Principal Activity

The charity's principal activity, as specified in the CIO's Constitution, is the advancement of education in Brent and neighbourhood, the charities primary school has boys and girls from the ages of 4 to 11 and after school tuition boys and girls and voluntary contribution supplementary school from the ages of 11 to 16. The school has a very successful year.

The school has averaged 130 (2022:119) pupils during the year.due to the covid-19 impact on our education this year, it has been very difficult to maintain the financial balance which led to rent arrears from previous year. many families still struggle to make payment consistently due to financial imbalance within their budget.

However, the trustees and the headteacher find a common ground to assist the families by a means tested scrutiny while still be able access education. As we face a huge financial struggle within the organisation, we were able to borrow the sum of £7,000 without interest from the community to meet the outgoing cost. Teacher recruitment had also been an incredible financial factor, this is outlined in our monthly cash flow system .

Co-curricular activities

The school was able to resume back to sport, drama and debate throughout this year after school closure from January to March. The head teacher ensured that all pupils accessed education on a daily basis via online in support of pupil's education during the lock down. She continued to offer Friday sessions of mental health support to both staff, parents and pupils throughout the second clock down.

School Fees

Our fee this year remains the same as agreed by the trustees as opposed to an inflationary increase in line with the movement in the Consumer Prices. Our fees for the current year are:

First child - £2,400 per year

Public Benefit

Advance education centre (London) remains committed to the aim of providing public benefit in accordance with its founding principles and the terms of the current constitution. The trustees are conscious of their responsibility to ensure that the public can be measures.

The organisation's fundamental purpose is to recognise, promote and support excellence in education and to encourage the development and use of intellectual skills for the benefit of humanity. This is clear from the way we have responded to the pandemic.

School has engaged in other activities to provide public benefits such as provision of tuition classes and part time education out of school hours.

Financial review

The Statement of financial activities shows the total income of £321,895 (2022: £326,445) with total expenditure of £325,740 (2022: £323,042)

4

ADVANCE EDUCATION CENTRE (LONDON)

Trustees' Annual Report (continued)

Year ended 30 November 2023

Plans for future periods

Trustees selection methods

Under the requirements of the charitable incorporated organisation constitution trustees are selected by board of trustees in the board of trustees meeting. The trustees resign by written notice to the charity.

Reserve Policy

It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to meet the expenditures. The board of trustees consider the stable cash flow from full student roll, the ongoing popularity of our school will help to maintain that level of reserve without any difficulty. The bord of trustees considers that reserves at this level will ensure that in the event of significant, drop in funding, they will be able to continue the charities current activities while consideration is given to ways in which additional funds may be raised. Advance Education Centre (London) will actively work to achieve this level of reserves.

Risk Management

The charity takes robust steps to manage the risks involved in achieving of its aim and objectives. The board of trustees reviews significant risks and makes sure that they are taking appropriate measures to manage and reduce their impact.

The trustee is responsible for ensuring that that proper arrangements are in place for risk management. The regular audit of risk management of major risk is reviewed using the internal risk register updated periodically and used in managing and monitoring risk and communicating information about risks across the organisation.

Following previous internal audit reviews, a new process for preparing and considering risk registers was launched in the year and aims to reinforce the importance of risk considerations in decision making at all levels of the organisation. The risk reflects on uncertainty and risk to achieving the society's goal and the effectiveness of the various means it employes to mitigates those risks. They are also vigilant in identifying new risks and taking steps to address them. Actions and processes often contribute to mitigation of several risks simultaneously. Advance Education works assiduously to develop and maintain relationships to ensure that its activities remain relevant, that the value of its work is recognised.This review identified that all key risks had already been included on the risk register but the likelihood and impact had increased, therefore leading. to additional management of the risk being required.

The trustees' annual report was approved on 18 September 2024 and signed on behalf of the board of trustees by:

Mr Charles Martin Trustee

5

ADVANCE EDUCATION CENTRE (LONDON)

Independent Examiner's Report to the Trustees of ADVANCE EDUCATION CENTRE (LONDON)

Year ended 30 November 2023

I report to the trustees on my examination of the financial statements of ADVANCE EDUCATION CENTRE (LONDON) ('the charity') for the year ended 30 November 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Mahendra Pattni RMR Partnership LLP Independent Examiner 3rd Floor, Vyman House 104 College Road Harrow Middlesex HA1 1BQ

6

ADVANCE EDUCATION CENTRE (LONDON)

Statement of Financial Activities

Year ended 30 November 2023

		2023	2023	2022
		Unrestricted
		funds	Total funds	Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	4	2,175	2,175	4,175
Charitable activities	5	319,720	319,720	322,270
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Total income		321,895	321,895	326,445
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
Expenditure
Expenditure on charitable activities	6,7	325,742	325,741	323,042
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Total expenditure		325,742	325,741	323,042
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Net (expenditure)/income and net movement in funds		(3,847)	(3,846)	3,403
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
Reconciliation of funds
Total funds brought forward		9,733	9,733	6,329
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Total funds carried forward		5,886	5,886	9,733
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 9 to 15 form part of these financial statements.

7

ADVANCE EDUCATION CENTRE (LONDON)

Statement of Financial Position

30 November 2023

		2023	2022
	Note	£	£
Fixed assets
Tangible fixed assets	12	2,480	3,437
Current assets
Debtors	13	26,030	26,030
Cash at bank and in hand		9,009	16,589
		ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
		35,039	42,619
Creditors: amounts falling due within one year	14	19,799	19,663
		ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
Net current assets		15,240	22,956
		ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
Total assets less current liabilities		17,720	26,393
Creditors: amounts falling due after more than one year	15	11,833	16,661
		ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
Net assets		5,886	9,733
		৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶
Funds of the charity
Unrestricted funds		5,886	9,733
		ৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄ
Total charity funds	17	5,886 ৶৶৶৶৶৶৶	9,733 ৶৶৶৶৶৶৶

These financial statements were approved by the board of trustees and authorised for issue on 18 September 2024, and are signed on behalf of the board by:

Mr Charles Martin Trustee

The notes on pages 9 to 15 form part of these financial statements.

8

ADVANCE EDUCATION CENTRE (LONDON)

Notes to the Financial Statements

Year ended 30 November 2023

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Unit 5, Unimix House, Abbey Road, London, NW10 7TR.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operation for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

9

ADVANCE EDUCATION CENTRE (LONDON)

Notes to the Financial Statements (continued)

Year ended 30 November 2023

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

10

ADVANCE EDUCATION CENTRE (LONDON)

Notes to the Financial Statements (continued)

Year ended 30 November 2023

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings - 25% straight line Equipment - 25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

11

ADVANCE EDUCATION CENTRE (LONDON)

Notes to the Financial Statements (continued)

Year ended 30 November 2023

3. Accounting policies (continued)

Financial instruments (continued)

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Donations and legacies

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2023	Funds	2022
	£	£	£	£
Donations
Donations	2,175	2,175	4,175	4,175
	৶৶৶৶৶৶৶	৶৶৶৶৶৶৶	৶৶৶৶৶৶৶	৶৶৶৶৶৶৶

12

ADVANCE EDUCATION CENTRE (LONDON)

Notes to the Financial Statements (continued)

Year ended 30 November 2023

5. Charitable activities

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Sale of goods/services as part of direct
	charitable activities	316,345	316,345	320,012	320,012
	Other income	3,375	3,375	2,258	2,258
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
		319,720	319,720	322,270	322,270
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
6.	Expenditure on charitable activities by fund type
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Charitable activity	312,184	312,184	311,096	311,096
	Support costs	13,558	13,557	11,945	11,946
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
		325,742	325,741	323,041	323,042
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
7.	Expenditure on charitable activities by activity type
		Activities
		undertaken		Total funds	Total fund
		directly Support costs		2023	2022
		£	£	£	£
	Charitable activity	312,184	6,237	318,421	316,327
	Governance costs	–	7,320	7,320	6,715
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
		312,184	13,557	325,741	323,042
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
8.	Net (expenditure)/income
	Net (expenditure)/income is stated after charging/(crediting):
				2023	2022
				£	£
	Depreciation of tangible fixed assets			1,399	1,704
				৶৶৶৶৶৶৶	৶৶৶৶৶৶৶
9.	Independent examination fees
				2023	2022
				£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements			3,000	2,640
				৶৶৶৶৶৶৶	৶৶৶৶৶৶৶

13

ADVANCE EDUCATION CENTRE (LONDON)

Notes to the Financial Statements (continued)

Year ended 30 November 2023

10. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as	The total staff costs and employee benefits for the reporting period are analysed as	follows:
	2023	2022
	£	£
Wages and salaries	139,412	140,501
Social security costs	1,850	3,042
Employer contributions to pension plans	476	140
Other employee benefits	11,753	12,690
	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
	153,491	156,373
	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶

The average head count of employees during the year was Nil (2022: 9). 9

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

11. Trustee remuneration and expenses

The charity trustees were not paid and received no other benefit from employment with the charity in the year . No charity trustee received payment for professional or other services supplied to the charity. No expenses were incurred by or on behalf of trustees in the year.

There were no other transaction with any other related parties.

12. Tangible fixed assets

		Fixtures and
		fittings	Equipment	Total
		£	£	£
	Cost
	At 1 December 2022	3,723	4,060	7,783
	Additions	–	442	442
		ৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄ
	At 30 November 2023	3,723	4,502	8,225
		৶৶৶৶৶৶৶	৶৶৶৶৶৶৶	৶৶৶৶৶৶৶
	Depreciation
	At 1 December 2022	3,157	1,189	4,346
	Charge for the year	292	1,107	1,399
		ৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄ
	At 30 November 2023	3,449	2,296	5,745
		৶৶৶৶৶৶৶	৶৶৶৶৶৶৶	৶৶৶৶৶৶৶
	Carrying amount
	At 30 November 2023	274	2,206	2,480
		৶৶৶৶৶৶৶	৶৶৶৶৶৶৶	৶৶৶৶৶৶৶
	At 30 November 2022	566	2,871	3,437
		৶৶৶৶৶৶৶	৶৶৶৶৶৶৶	৶৶৶৶৶৶৶
13.	Debtors
			2023	2022
			£	£
	Other debtors		26,030	26,030
			৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶

14

ADVANCE EDUCATION CENTRE (LONDON)

Notes to the Financial Statements (continued)

Year ended 30 November 2023

14. Creditors: amounts falling due within one year

		2023	2022
		£	£
	Bank loans and overdrafts	3,605	5,000
	Accruals and deferred income	13,159	12,485
	Social security and other taxes	2,430	1,573
	Other creditors	605	605
		ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
		19,799	19,663
		৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶
15.	Creditors: amounts falling due after more than one year
		2023	2022
		£	£
	Bank loans and overdrafts	4,833	9,661
	Other creditors	7,000	7,000
		ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
		11,833	16,661
		৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶

16. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £476 (2022: £140).

17. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
		At			At
	1	December 2		30	November
		022	Income	Expenditure	2023
		£	£	£	£
General funds		9,733	321,895	(325,742)	5,886
		৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶
		At			At
	1	December 2		30	November
		021	Income	Expenditure	2022
		£	£	£	£
General funds		6,329	326,445	(323,041)	9,733
		৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶

15

ADVANCE EDUCATION CENTRE (LONDON)

Management Information

Year ended 30 November 2023

The following pages do not form part of the financial statements.

16

ADVANCE EDUCATION CENTRE (LONDON)

Detailed Statement of Financial Activities

Year ended 30 November 2023

	2023	2022
	£	£
Income and endowments
Donations and legacies
Donations	2,175	4,175
	ৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄ
Charitable activities
Sale of goods/services as part of direct charitable activities	316,345	320,012
Other income	3,375	2,258
	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
	319,720	322,270
	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Total income	321,895	326,445
	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
Expenditure
Expenditure on charitable activities
Purchases	2,225	1,300
Wages and salaries	139,412	140,501
Employer's NIC	1,850	3,042
Pension costs	476	140
Other post-retirement benefits	11,753	12,690
Rent	136,475	136,500
Rates and water	7,566	6,639
Repairs and maintenance	3,451	2,095
Other establishment	301	–
Other motor/travel costs	6,394	3,555
Legal and professional fees	7,320	6,715
Telephone	864	864
Other office costs	4,019	5,024
Depreciation	1,399	1,703
Other interest payable and similar charges	279	718
Cleaning	1,056	823
Subscription	155	158
Staff welfare	223	6
Bank charges	523	569
	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
	325,741	323,042
	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Total expenditure	325,741	323,042
	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Net (expenditure)/income	(3,846) ৶৶৶৶৶৶৶৶৶	3,403 ৶৶৶৶৶৶৶৶৶

17