2021-08-31-accounts - AL Elevation

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			Page
Reference and Administrative Details
Trustees' Report		2	to	3
Statement ofTrustees'	Responsibilities
Report ofthe Independent Auditors		5	to	7
Statement ofFinancial	Activities
Statement ofFinancial	Position
Statement ofCash Flows			10
Notes to the Statement	ofCash Flows
Notes to the Financial	Statements	12	to	15
Detailed Statement of	Financial Activities		16

		31,8.21	31.8.20
		Unrestricted	Total
		fund	funds
	Notes
CURRENT ASSETS
Cash at bank		1328i589	759,366
CREDITORS
Amounts falling due within one year		(203,252)	(203,000)
NET CURRENT ASSETS		1,125,337	556,366
TOTAL ASSETSLESSCURRENT
LIABILITIES		1,125,337	556,366
CREDITORS
Amounts falling due atter more than one year	12	(200,000)	(400,000)
NET ASSETS		925,337	156,366
FUNDS	13
Unrestricted funds		925,337	156,366
TOTAL FUNDS		925,337	156,366

					31.8.21	31.8.20
				Notes
Cash flows from	operating	activities
Cash generated from operations				1	569,223	(2,125,353)
Net cash provided	by/(used	in)	operating	activities	569,223	(2,125,353)
Cash flows from	investing	activities
Interest received						4,331
Net cash provided	by investing		activities			4,331
Change in cash	and cash equivalents			in
the reporting period					569,223	(2,121,022)
Cash and cash equivalents		st	the
beginning ofthe	reporting	period			759,366	2,880,388
Cash and cash equivalents		st	the end	of
the reporting period					1,328,589	759,366

3.	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES
									31.8.21	31.8,20
	Donations								2,500,000	1,000
4.	INVESTMKNT INCOME
									31.8.21	31.8.20
	Deposit account interest									4,331
5.	CHARITABLE ACTIVITIES COSTS
								Grant
								funding of
							Direct	activities	Support
							Costs (see	(see note	costs (see
							note 6)	7)	note 8) f	Totals
	Education		and training				1,593,172	130,000	7,857	1,731,029
6.	DIRECT		COSTS OF CHARITABLE			ACTIVITIES
									31,8.21	31.8.20
	Donations		to the Laurus	Trust					1,478,$39	1,758,412
	Provision		ofeducational	sporting services			for the Laurus Trust		83,333	129,167
	Provision		ofother educational		services	for the Laurus Trust			31,000	31,287
									1,593,172	1,918,866
7.	GRANTS		PAYABLE
									31.8.21	31.8.20
	Education		and training						130,000	800,000
	The total	grants payable to institutions				in the year was as follows:
									31.8.21	31.8.20
	National	Portrait Gallery								800,000
	University		ofCambridge						50,000
	Centre for		Social Justice						40,000
	Education		Policy Institute						20,000
	Centre for		Policy Studies						20,000
									130,000	800,000

CREDITORS: AMOUNTS FALLING DUE WITH	IN ONE YEAR
	31.8.21	31.8.20
	8
Grants payable	200,000	200,000
Accrued expenses	3i252	3,000
	203,252	203,000
CREDITORS: AMOUNTS FALLING DUE AII'TER MORE THAN ONE YEAR
	31.8.21	31.$.20
	f.
Grants payable	200,000	400,000

				31.8.21	31.8.20f
INCOME AND ENDOWMENTS
Donations and legacies
Donations				2,500,000	1,000
Investment income
Deposit account interest					4,331
Total incoming resources				2,500,000	5,331
EXPENDITURE
Charitable activities
Donations to the Laurus Trust				1,478,839	1,758,412
Provision ofeducational	sporting		services for the
Laurus Trust				83)333	129,167
Provision ofother educational		services for the
Laurus Trust				31,000	31,287
Grants to institutions				130,000	800,000
				1,723,172	2,718,866
Support costs
Management
IT& web design				200
Administration				4,138	3,737
Bank charges				15
				4,353	3,737
Governance costs
Auditors' remuneration				3,252
Independent examiner's	fees			252	1,890
				3,504	1,890
Total resources expended				1,731,029	2,724,493
Net income/(expenditure)				768,971	(2,7l9,1621