| Page | |||
|---|---|---|---|
| Reference and Administrative Details |
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| Report ofthe Trustees | 2 | to | 6 |
| Report ofthe IndependentAuditors | 7 | to | S |
| Statement of Financial Activities | |||
| Statement of Financial Position | 10 | ||
| Notes to the Financial Statements | 11 | to | 17 |
| Trustees | Mr A Behagg | |||
|---|---|---|---|---|
| Mr M Willis | ||||
| Mrs J Lycett | ||||
| Mrs M Clohessy | ||||
| Mrs J Melson | ||||
| Mr TFlesher | ||||
| Mr I Buckle |
||||
| Mrs J Carrell (resigned | 30.11.2019) | |||
| Principal address | Armed Forces Education Trust |
|||
| PO Box684 | ||||
| Farnharn | ||||
| GU9 1LP | ||||
| Registered charity number | 1167682 | |||
| Auditors | Filer Knapper | LLP | ||
| Chartered Accountants |
and Registered | Auditor | ||
| 10Bridge Street | ||||
| Christchurch | ||||
| Dorset | ||||
| BH23 1EF |
| f | or the Year Ended 31August | 2020 | ||||
|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||
| Unrestricted | Total | |||||
| fund | funds | |||||
| Notes | E | E | ||||
| Income and endowments | from | |||||
| Donations | and legacies | 250 | 325 | |||
| investment | income | 403,016 | 393,371 | |||
| Total | 403,266 | 393,696 | ||||
| Expenditure | on | |||||
| Charitable | activities | |||||
| Educational | grants | 397,792 | 307,681 | |||
| Net gains on investments | 487,245 | 123,397 | ||||
| NET INCOME | 492,719 | 209,412 | ||||
| Reconciliation offunds | ||||||
| Total funds | brought | forward | 12865719 | 12,656,307 | ||
| Total funds | carried | forward | 13,$58,438 | 12,865,719 |
| State | ment of Financial Positi 31August 2020 |
on | ||
|---|---|---|---|---|
| 2020 | 2019 | |||
| Unrestricted | Total | |||
| fund | funds | |||
| Notes | f | f | ||
| Fixed assets | ||||
| Investments | ||||
| Investments | 10 | 1,652,800 | 1,712,706 | |
| Investment | property | 11 | 11,560,000 | 11,035,000 |
| 13,212,800 | 12747 706 | |||
| Current assets | ||||
| Debtors | 12 | 117,408 | ||
| Cash at bank | 485,284 | 402,999 | ||
| 602,692 | 402,999 | |||
| Creditors | ||||
| Amounts falling due within one year |
13 | (352,761) | {284,986) | |
| Net current | assets | 249,931 | 118,013 | |
| Total assets | less current liabilities | 13,462,731 | 12,865,719 | |
| Creditors | ||||
| Amounts falling due after more than one year |
(104,293) | |||
| NET ASSETS | 18,858,488 | 12,865,719 | ||
| Funds | ||||
| Unrestricted | funds | 13,358,438 | 12,865,719 | |
| Totalfunds | 15,558,458 | 12,855,719 |
| Investment | income | ||
|---|---|---|---|
| 2020 | 2019 | ||
| Unrestricted | Total | ||
| funds | funds | ||
| f | f | ||
| Rents received | 403,016 | 392,157 | |
| Deposit account interest | 1,214 | ||
| 406.016 | 393,371 | ||
| Grants payable | 2020 | 2019 | |
| f | f | ||
| Educational | rants | 661,401 | 261,072 |
| Grants payable |
|---|
| Educational grants |
| f | or the Year Ended 31August 2020 | ||
|---|---|---|---|
| Grants payable - continued | |||
| The total grants paid to institutions | during the year was as follows: | 2020 | 2019 |
| f | |||
| Salisbury Plain Academies |
42,666 | 161,101 | |
| The Wavell School | 27,378 | ||
| Carswell Primary School |
26,040 | ||
| Mayhill School Llantwit Major School Raigmore Primary School Argyll and Bute Council |
23,000 21,248 18,116 14,331 |
30,800 | |
| Kinloss Primary School | 9,000 | ||
| Ash Manor School | 8,240 | ||
| Carterton Primary Scool |
6,250 | ||
| South Farnborough Junior School |
5,940 | ||
| Ringshall Primary School Naphill 5Walters Ash School |
5,000 4,176 |
12,504 | |
| Corringham Primary School Newton Tony Primary Wiltshire County Council Clarendon School |
3,672 1,251 (25,078) |
1,700 (46,202) 23,828 |
|
| North Yorkshire County Council Shipton Bellinger Primary School Dreghorn Primary School Herne Junior School |
17,412 5,000 5,000 800 |
||
| Children's University Lypiatt School |
(4,959) (20,001) |
||
| 191,230 | 186,983 |
| Support c | os | ts | ||||
|---|---|---|---|---|---|---|
| Governance | ||||||
| Management | costs | Totals | ||||
| E | E | E | ||||
| Educational | grants | 30,750 | 5,641 | 36,391 | ||
| Auditors' | remuneration | |||||
| 2020 | 2019 | |||||
| f | E | |||||
| Fees payable statements |
to the charity's | auditors for the audit ofthe charity's | financial | 4,320 | 4,200 |
| Staff costs | |||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| f | f | ||||
| Wages and salaries | 25,583 | 23,886 | |||
| 25,583 | 23,886 | ||||
| The average | monthly | number ofemployees | during the year was as follows: | ||
| 2020 | 2019 | ||||
| Management | 1 | 1 |
| Note | Note | s tothe Financial Statements -continue for the Year Ended 31August 2020 |
d | |
|---|---|---|---|---|
| 9. | Comparatives for the statement |
offinancial activities | ||
| Unrestricted | ||||
| fund | ||||
| f | ||||
| Income and endowments | from | |||
| Donations and legacies |
325 | |||
| investment income |
393,371 | |||
| Total | 393,696 | |||
| Expenditure on |
||||
| Charitable activities |
||||
| Educational grants |
307,681 | |||
| Net gains on investments | 123,397 | |||
| NET INCOME | 209,412 | |||
| Reconciliation offunds | ||||
| Total funds brought forward | 12,656,307 | |||
| Total funds carried forward | 12,865,719 | |||
| 10. | Fixed asset investments | |||
| Listed | ||||
| investments | ||||
| f | ||||
| Market value | ||||
| At 1September 2019 | 1,712,706 | |||
| Revaluations | (59,906) | |||
| At 31August 2020 | 1,652,800 | |||
| Net book value | ||||
| At 31August 2020 | 1,652,800 | |||
| At 31August 2019 | 1,712,706 |
| Investment | property | |
|---|---|---|
| Fair value | ||
| At 1September 2019 | 11,035,000 | |
| Disposals Revaluation |
(21,000) 546,000 |
|
| At 31August | 2020 | 11,560,000 |
| Net book value | ||
| At 31August | 2020 | 11,560,000 |
| At 31August | 2019 | 11,035,000 |