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2020-12-31-accounts

REGISTERED COMPANY NUMBER: 10471484 (England and Wales) REGISTERED CHARITY NUMBER: 1170522

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2020

for

Classrooms in the Clouds (A Company Limited by Guarantee)

Marshall Accountancy Ltd St Mary's House Crewe Road Alsager Stoke-On-Trent ST7 2EW

Classrooms in the Clouds

Contents of the Financial Statements for the Year Ended 31 December 2020

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 14
Independent Examiner's Report 15
Statement of Financial Activities 16
Balance Sheet 17
Notes to the Financial Statements 18 to 22
Detailed Statement of Financial Activities 23

Classrooms in the Clouds

Reference and Administrative Details for the Year Ended 31 December 2020

TRUSTEES M A Cashin S Hagen M Hagen L McLaren R A W Middleton D G Sherpa REGISTERED OFFICE 10 Grammar School Lane Wirral Merseyside CH48 8AY REGISTERED COMPANY 10471484 (England and Wales) NUMBER REGISTERED CHARITY 1170522 NUMBER INDEPENDENT EXAMINER Marshall Accountancy Ltd St Mary's House Crewe Road Alsager Stoke-On-Trent ST7 2EW

Page 1

Classrooms in the Clouds Report of the Trustees for the Year Ended 31 December 2020

The Trustees of Classrooms in the Clouds are pleased to present their Report and Accounts for the period ending 31 December 2020. These accounts have been prepared in accordance with Charities SORP (FRS 102) ‘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)’, Financial Reporting Standard for Smaller Entities (effective January 2015) and the Charities Act 2011, and the Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ issued in March 2005.

Objectives and Activities

Classrooms in the Clouds exists because there are children in Nepal currently receiving an inadequate education, or in many cases, no education at all due to social, financial, practical, geographical or other reasons. Many children are out working, taking care of younger siblings, elderly or disabled relatives. There may be no school in their village, or if there is it may only go to the end of primary school, with no high school nearby. The only option for many is boarding school in Kathmandu which is simply unaffordable and impractical for all but a small minority. Attendance at school dwindles as children get older. The Nepalese government recognises that early years education has been undervalued. We need to provide incentives, facilities, teachers and professional development opportunities as well as tackling gender barriers to ensure children remain students for as long as possible to help them reach their full potential.

Mission

Our mission is to provide affordable, accessible and sustainable education to the children of Nepal, particularly those in most

need.

Aims

Classrooms in the Clouds strive to create a safe environment where children are able to achieve their full potential in all aspects of their learning. In particular, they will have the chance to achieve their Secondary Education Examination (SEE).

We aim to improve conditions in 4 main ways: •Building good quality, new classrooms; •Providing gender appropriate hygiene facilities and tackle gender barriers;

•Sponsoring, training and supporting new teachers with an emphasis on attracting more local female teachers;

•Developing partnerships with local school communities to realise the potential of the additional facilities and training.

Purpose

To raise funds and materials to assist in the provision of education to the children of Nepal.

Page 2

Values

Our Core Values shape what we do:

• Creating Opportunity for communities in need;

• Socially Aware – we will endeavour to source materials locally and utilise local labour as far as practically possible;

• Sustainable – we will work with local communities to understand and meet their needs, develop a long term, strong relationship and ensure their commitment to a project;

We are a long term partner of school communities;

We are increasing our emphasis and support for women and girls in education ;

We are developing the building blocks of education by improving the early years teaching in terms of the built environment and skills and resources.

• Everyone Matters – we want to reach and influence those most in need and particularly to raise the expectations of women;

• Release Potential – we believe we can help children realise their potential, thereby improving their life chances;

• Maximise the use of Assets – we recognise the focal point a school provides for a community and we want the benefits from our building projects to be maximised by widespread community use.

Our Personal Values shape how we do:

Activities

We establish long-term partnerships with the schools we support operating in a culturally empathetic way. Specifically we:

toilets and empowerment of women initiatives.

Reusable Menstrual Health Kit being Made by Local Women, trained by CITCNepal

Page 3

Achievements and performance

CITC sponsored teachers carried on working with children in the community during the Nepal lockdown. This is hugely appreciated by local communities who have been devastated by the impact of COVID-19 on the country.

Working with a partner, lesson books were developed for primary children so they could continue to study from home. CITC sponsored teachers made regular contact with them, allowing education to continue when it was stopped in most other areas. So successful was it that many schools/municipalities in the region requested the resources and CITC ended up reaching thousands more children.

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Charity no: 1170522
COVID-19
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The period under review is dominated by the worldwide COVID-19 pandemic. In Nepal it is difficult to gauge exactly how the virus spread as testing is unreliable and the health system stretched in normal circumstances. The biggest negative impact, however, has been the economic one. The Nepal government declared 2020 as the year to visit Nepal but tourism has been decimated. The remittances from migrant workers - mostly working in India and the Middle East - has all but dried up. This accounted for somewhere between 30 and 50% of the GDP! Some experts are predicting the impact to be worse than the earthquakes of 2015.

Inevitably at times like this people in the West look inwards and it is no surprise that charitable giving in the UK has focussed on home. Classrooms In The Clouds, therefore, faces the twin challenges of more need than ever in Nepal and a fight for maintaining its income. The work of CITC in Nepal has never been more important in terms of giving young people hope and skills for the future so they can be the guardians of their beautiful country.

Page 4

The building project at Shree Kanku (6 classroom 2-storey block, WCs, clean water and furniture/furnishings) was also threatened by the restrictions placed on building workers by the government in Nepal. Through embedding strong safety measures on site, the project was completed within the year and came in on budget.

The practical response from the local community was better than anything previously seen. There is a huge pride taken by local people and the boost they have received from an investment never before seen in this area. CITC is particularly grateful for the support from Cheshire Fire and Rescue Service Fire Cadets.

The Chair of Trustees with the CITC Nepali Trustee and NGO President, Dawa Sherpa, visit all potential projects before agreeing funding to be reassured a school community is committed to improving the education for their young people. The CITC Education Development Manager is the project manager and works within the CITC governance processes. Within that process as a means to minimise the risk of corruption and quality failings, CITC commission a dedicated technical building team of known skills and an NGO board member is permanently on site to monitor the build and provide direct communication with the local community. CITC regard the building project as a ‘community project supported by CITC’. To underpin this philosophy, a ‘Community buy-in’ is expected for any projects that we support. This helps foster ownership and responsibility in the community, and also aids in the sustainability of projects, reducing donor dependency.

CITC asks for 20% of the value of the total estimated cost of each project, and whilst it is known that the local people will rarely have money to donate, this buy-in can be achieved in many other ways, such as portering materials, labouring, collection of sand and gravel, food and lodgings for the workers.

Page 5

In last year’s report, detail was provided of the massive building project at Shree Sagarmatha, Bung (8 classrooms in 2018 to the 4 built in 2016 plus long term sponsorship of 2 teachers one of whom became 'Head of Early Years'). The outcomes report explained the improvements:

‘ The construction of separate child-friendly learning space for Early Years' students has become a model for the schools in the region. The idea of an autonomous learning area for primary grade children has ignited the importance of safe physical space for those young minds in a big school setting where they also have secondary students in the same territory. Besides the physical space, there is also a significant improvement in the social and temporal domains. The successful implementation of grade teaching, good teamwork, and good leadership for the Early Years Section have all been the key factors behind the academic and non-academic improvements noticed at the Early Years. Parents and community members have observed positive behavioural changes in their child's perspective toward learning. Children in the early years are loving school and have been improving their academic performance and flourishing their leadership experiences in the nurturing environment created by the teachers and staff at Shree Sagarmatha. The impact is such that the nearby schools in the region, which were earlier reluctant about implementing progressive teaching approaches, are now eager to follow the footstep of Shree Sagarmatha.’

‘CITCNepal has been training and providing support to the teachers at Early Years on implementing a grade-based teaching model. In a span of a year, remarkable changes have been noticed in students learning. The grade-wise learning achievement of Early Years has improved by more than 15% in a year.

The Chair of the Rural Municipality said, “I see small children so excited while going to school and are so well connected to their teachers, which was not noticeable when we had subject-based teaching in the primary grades. I have also remarked very excellent teamwork among the Early Grade Teachers compared to the subject based teachers in higher grades. Early Grade Teachers spend more time with children and provide individual care, which

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Lhamu Sherpa, Head of Early Years
Shree Sagarmatha, Bung
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promotes the individual development of the children. I think it is the strength, the beauty of the Early Years at Shree Sagarmatha. As a parent and school invigilator, I have seen an improved performance of the grade teachers, which has direct influence on the children’s learning. So, our team in the rural municipality has discussed if we could support other schools to practice grade teaching. Hopefully, we can influence or motivate some of the school to begin grade teaching new academic sessions and eventually convince more schools.”

Page 6

Teacher Sponsorship - By the end of the year, the CITCNepal team completed a selection process for 5 new teachers that means there are, for the first time, 20 sponsored female teachers working out of schools. CITC continues to mirror the Nepal Government teacher salaries and benefits. CITC have a sustainable model for teacher sponsorship whereby teachers are supported in their studies to achieve a Bachelor Degree in Education. This provides a gateway to obtaining a government-funded teaching role or another permanent role. Since 2009, over half the CITC sponsored teachers have gone on to find permanent employment or enter full-time study.

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In 2020 CITC provided specialist training in child-centred learning, lesson planning, menstrual health and first aid. CITC invests in teacher materials and workbooks designed by a partner in Kathmandu called The Collective Schools Network.

CITC supports a ‘cluster’ of schools in the lower Solu Khumbu, meaning sponsored teachers support each other as they extend their skills and experience. They use social media to share best practice. To support the teachers and maintain a strong relationship with CITC supported schools, CITCNepal has employed an Eduational Development Manager who is responsible for project delivery, 2 peripatetic Education Support Workers and a finance officer based in Kathmandu. Roles include the professional development of sponsored teachers, monitoring and reporting on children’s progress in supported schools, liaison with education officials and NGOs at a national, regional and local level and overseeing building projects.

These are a great teaching aid for teachers who have extremely busy lives outside school in their rural communities. The lesson plans mean it is easier to follow the curriculum over the school year and plot individual student progress.

Page 7

Financial Review

During the period under review we have faced bigger challenges raising income than ever before. The majority of our income of £211,737 has again been voluntary income primarily from individuals, corporate and foundation donations, sponsored challenges and local fund raising events. The impact of Covid 19 and the introduction of lockdowns and various tiers throughout the UK has undoubtedly led to the reduction in number of fund raising activities taking place. Added to this during 2020, it has not been possible for individuals from Nepal to visit the UK and both share their experiences of what they have achieved and to represent the charity and hence foster increased financial support. What is comforting is that our core supporters have stayed loyal and able to contribute funds to enable the charity to carry on with much of its work. We are extremely grateful to all who have continued to donate to us during these unprecedented times.

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• Joint fundraisers ;
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Cheshire Fire and Rescue Service
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• Sponsored challenges ;
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Cycling to The Lost Mountain, Pyrenees

We raise money in a variety of ways, including:

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International Rotary foundation
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Joanna Tye raised £1,693 by completing 10,000 steps in one day, a huge personal challenge due to battling with Seronegative Rheumatoid Disease

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British and Foreign School Society
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• Corporate Fundraising

Long Time Supporters Shayne and Hazel Adams, Kaboodle, Ludlow and Church Stretton

Hengistbury Investment Partners LLP Charitable Trust

Page 8

• Donations of time and expertise

Art project in Bung delivered by professional UK artist Lynda Roberts – providing art training and skills to teachers

The Bishops’ Blue Coat High School, Chester

Part of the renovated library in Kharikhola, one of many transformations led by long term CITC supporter Cathie Bremner Owen

Lindsay Mason & Sally Sixsmith, Dudley Schools Partnership

Page 9

The attached financial statements show that the money held by the charity at 31 December 2020 was £243,991.

Reserves Policy

The Trustees have identified the appropriateness of establishing a defined reserve policy for the charity. The purpose of a reserve policy is to help ensuring that the long term objectives of the charity can be met with some from of financial security.

A Reserve Fund has been established as an amount sufficient to maintain ongoing operations and programmes for 12 months. The Reserve Fund serves a dynamic role and will be reviewed and adjusted in response to internal and external changes.The target minimum Reserve Fund is equal to £75,000 representing twelve months of operating expenses averaged annually over the last 2 years.

Funding Reserves

Investing Reserves

The Reserve Fund will be funded and available in cash or cash equivalent funds, in accordance with the risk preferences, liquidity needs and investment objectives of the charity. The reserves will be comingled with the general cash accounts of the charity but segregated in financial reporting.

Using Reserves

Trustees will identify reasons for accessing the Reserve Fund and confirm that the use is consistent with the purpose of the reserves as described in this Policy having:

The Treasurer is responsible for ensuring that the Reserve Fund is maintained and used only as described in this Policy.

Trustees of Classrooms In The Clouds agree that the Reserve Fund will be established by designating £75,000 from restricted funds as the beginning balance. Trustees will consider the size of the Reserve Fund annually.

Page 10

Structure, Governance and Management

CITC is governed by its Constitution dated 25 August 2007. In 2017, CITC completed its registration with the Charity Commission for England and Wales. A new company limited by guarantee (Company Number 10471484; Charity Number 1170522) was created. Classrooms In The Clouds Nepal is a registered NGO in Nepal.

There are currently 6 members. All Trustees of the Management Committee will resign at each AGM where each shall then be eligible for re-election. In addition, Trustees may be added at any time with the consent of the Management Committee, provided there are never any more than 7 members of the Management Committee. The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. This requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ascertain to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constituting 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 and other irregularities.

In the interest of transparency and accountability to our donors we publish our annual report, accounts and impact report on the website. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Page 11

The table below outlines the governance processes followed by CITC:

Organisation/Role Who Responsibility
Classrooms in the Clouds Trustees Executive Responsibility for CITC
strategy including financial decisions
andpartnerships
Classrooms in the Clouds Nepal NGO Committee Delivery and supervision of Projects as
agreed byCITC ‘on the Ground’
Classrooms in the Clouds Trustees Responsible for meeting the legal
requirements of a registered charity
Classrooms in the Clouds Nepal NGO Committee Responsible for meeting the legal
requirement of a Nepal registered NGO
Classrooms in the Clouds Trustees Delivering the CITC fundraising strategy
and developing relationships with
donors and supporters based on
integrity,respect and transparency
Classrooms in the Clouds Nepal NGO Committee Promoting the aims and objectives of
CITC with visitors to Nepal to encourage
additional supporters
Classrooms in the Clouds Trustees Develop systems and procedures to
ensure due diligence of all spending and
other matters in order to maximise
charityeffectiveness
Classrooms in the Clouds Nepal NGO Committee To support CITC by working within their
systems andprocedures
Classrooms in the Clouds Trustees To receive and carefully consider
petitions and other requests and
examine them against local need and
charityaims
Classrooms in the Clouds Nepal NGO Committee To support the decision making process
of CITC by providing timely, relevant and
thorough background information on
petitions received
Classrooms in the Clouds Trustees To make their project decisions on a
sound financial basis
Classrooms in the Clouds Nepal NGO Committee To deliver projects within the financial
assumptions of CITC and report any
indication of variances against the
agreedplan
Treasurer To advise on all matters relating to
finance and take all reasonable
measures to ensure local/international
financial rules are followed

Page 12

Long Terms Future plans

Set out below are details of our medium and longer term goals. Undoubtedly their achievement are going to be subject to the return of the West to more normal conditions and positive economic factors. The Trustees are aware of the potential need to reconsider whether some of these goals are realistically achievable within the time scales detailed By 2023 we plan to reach more children by:

•Being recognised by the public, in the corporate world and by other charitable organisations as an effective, sustainable and passionate charity;

• Refine our monitoring and evaluation processes to provide robust evidence of the success of our projects.

• Ensure that we enhance our communication to supporters around the world and make our annual financial reports available to anyone who would like to see them.

Page 13

Trustee Details

Trustee Details
Name Position Nationality Address
*Michael
Hagen		 Chair Trustee UK **10 Grammar School Lane, Wirral,
CH48 8AY
Sarah Hagen Secretary Trustee UK 10 Grammar School Lane, Wirral,
CH48 8AY
Ron
Middleton
 Treasurer Trustee UK 24 Kelmscott Road, Harborne, B17
8QN
Dawa Geljen
Sherpa		 Trustee/President
CITCNepal		 Nepal Kathmandu
Mark Cashin Trustee UK c/o Cheshire FRS HQ, Winsford,
CW7 2FQ
Lawrie
McLaren		 Trustee Belgium Av Emile de Beco 29, Brussels
B-1050

*Principal Officer

**Charitable Company registered address

Approved by order of the board of trustees on 26 June 2021 and signed on its behalf by:

........................................................................ M Hagen - Trustee

Page 14

Independent Examiner's Report to the Trustees of Classrooms in the Clouds

Independent examiner's report to the trustees of Classrooms in the Clouds ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

E E Marshall-Birks FCA ICAEW Marshall Accountancy Ltd St Mary's House Crewe Road Alsager Stoke-On-Trent ST7 2EW

Date: .............................................

Page 15

Classrooms in the Clouds

Statement of Financial Activities for the Year Ended 31 December 2020

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
-
Investment income
3
-
Other income
-
Total
-
EXPENDITURE ON
Raising funds
-
Charitable activities
4
Education projects
-
Total
-
NET INCOME
-
RECONCILIATION OF FUNDS
Total funds brought forward
-
TOTAL FUNDS CARRIED FORWARD
-		 Restricted
fund
£
211,735
2
-
211,737
30,185
142,500
172,685
39,052
202,738
241,790		 2020
Total
funds
£
211,735
2
-
211,737
30,185
142,500
172,685
39,052
202,738
241,790		 2019
Total
funds
£
309,673
5
785
310,463
21,185
212,525
233,710
76,753
125,985
202,738

The notes form part of these financial statements

Page 16

Classrooms in the Clouds

Balance Sheet
31 December 2020
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
8
-
CURRENT ASSETS
Cash at bank
-
CREDITORS
Amounts falling due within one year
9
-
NET CURRENT ASSETS
-
TOTAL ASSETS LESS CURRENT
LIABILITIES
-
NET ASSETS
-
FUNDS
10
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
686
243,991
(2,887)
241,104
241,790
241,790		 2020
Total
funds
£
686
243,991
(2,887)
241,104
241,790
241,790
241,790
241,790		 2019
Total
funds
£
1,371
203,535
(2,168)
201,367
202,738
202,738
202,738
202,738

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 26 June 2021 and were signed on its behalf by:

............................................. M Hagen - Trustee

The notes form part of these financial statements

Page 17

Classrooms in the Clouds

Notes to the Financial Statements for the Year Ended 31 December 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 33% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

continued...

Page 18

Classrooms in the Clouds

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

2.
DONATIONS AND LEGACIES
Donations
3.
INVESTMENT INCOME
Deposit account interest
4.
CHARITABLE ACTIVITIES COSTS
Education projects
5.
SUPPORT COSTS
Raising donations and legacies
6.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 Finance
£
118		 2020
£
211,735
2020
£
2
Other
£
30,067
2020
£
685		 2019
£
309,673
2019
£
5
Direct
Costs
£
142,500
Totals
£
30,185
2019
£
686

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

continued...

Page 19

Classrooms in the Clouds

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

8. TANGIBLE FIXED ASSETS

COST
At 1 January 2020 and 31 December 2020
DEPRECIATION
At 1 January 2020
Charge for year
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accruals and deferred income
10.
MOVEMENT IN FUNDS
At 1/1/20
£
Restricted funds
Restricted fund
202,738
TOTAL FUNDS
202,738
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Restricted funds
Restricted fund
211,737
TOTAL FUNDS
211,737		 Computer
equipment
£
2,057
686
685
1,371
686
1,371
2020
2019
£
£
2,887
2,168
Net
movement
At
in funds
31/12/20
£
£
39,052
241,790
39,052
241,790
Resources
Movement
expended
in funds
£
£
(172,685)
39,052
(172,685)
39,052

continued...

Page 20

Classrooms in the Clouds

Notes to the Financial Statements - continued

for the Year Ended 31 December 2020

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Restricted funds
Restricted fund
TOTAL FUNDS		 At 1/1/19
£
125,985
125,985		 Net
movement
in funds
£
76,753
76,753		 At
31/12/19
£
202,738
202,738

Comparative net movement in funds, included in the above are as follows:

Restricted funds
Restricted fund
TOTAL FUNDS		 Incoming
resources
£
310,463
310,463		 Resources
Movement
expended
in funds
£
£
(233,710)
76,753
(233,710)
76,753

A current year 12 months and prior year 12 months combined position is as follows:

Restricted funds
Restricted fund
TOTAL FUNDS		 At 1/1/19
£
125,985
125,985		 Net
movement
in funds
£
115,805
115,805		 At
31/12/20
£
241,790
241,790

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Restricted funds
Restricted fund
TOTAL FUNDS		 Incoming
resources
£
522,200
522,200		 Resources
Movement
expended
in funds
£
£
(406,395)
115,805
(406,395)
115,805

continued...

Page 21

Classrooms in the Clouds

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2020.

Page 22

Classrooms in the Clouds

Detailed Statement of Financial Activities
for the Year Ended 31 December 2020
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Investment income
Deposit account interest
Other income
Foreign currency profits
Total incoming resources
EXPENDITURE
Charitable activities
Education projects
Support costs
Finance
Bank charges
Other
Postage and stationery
Sundries
Travelling
Administrative support
Computer software and maintenance costs
Independent examiners' fee
Insurance
Foreign currency losses
Computer equipment
Total resources expended
Net income		 2020
£
211,735
2
-
211,737
142,500
118
-
110
-
25,295
403
740
432
2,401
686
30,067
172,685
39,052		 2019
£
309,673
5
785
310,463
212,525
163
9
205
489
18,082
403
716
432
-
686
21,022
233,710
76,753

This page does not form part of the statutory financial statements

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