‘
REGISTERED COMPANY NUMBER: 10161153 (England and Wales) REGISTERED CHARITY NUMBER: 1171301
;
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 FOR CHADSGROVE EDUCATIONAL TRUST
Charles Lovell & Co Limited Chartered Certified Accountants and Statutory Auditors 8 Church Green East Redditch Worcestershire B98 8BP
- CHADSGROVE EDUCATIONAL TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Cash Flow Statement | 7 | ||
| Notes to the Cash Flow Statement | 8 | ||
| Notes to the Financial Statements | 9 | to | 12 |
| DetailedStatementofFinancialActivities | 13 |
- CHADSGROVE EDUCATIONAL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Chadsgrove Educational Trust Specialist College (the College) provides access to dynamic provision and activities that effectively meet the individual needs of young adults with physical disabilities and/or complex medical needs together with associated learning, sensory, and communication difficulties.The College is a 19-25 provider in Bromsgrove, Worcestershire that offers high quality education and learning opportunities, bringing together a wealth of experience and innovative, alternative visions of the potential in young adults with complex needs. Public benefit In carrying out the objectives as described, the Board of Trustees feel that the charity has complied with its duty in section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year ending 31 August 2023 the College had 11 students on roll. All students at the College follow either a Seekers or Explorers Curriculum Pathway which is personalised to the student's individual needs, with opportunities to experience activities from both pathways where appropriate. The College curriculum follows the 4 key areas of the Preparing for Adulthood Framework (Health, Community, Independent Living Skills, and Employment), preparing students for life after College. Communication is the core focus threaded throughout the 4 areas of the Preparing for Adulthood Framework.
FINANCIAL REVIEW
Financial position
The financial statements show net incoming resources for the period ended 31 August 2023 of £138423 (31 August 2022: £226545).
The principal sources of income are from the Department for Education (predominantly via the Education & Skills Funding Agency) and two Local Authorities, which represented 97% (31 August 2022 99%) of the College's income. The remaining 3% of income was generated through donations and fundraising, notably for the College Garden Project. The directors deployed all net incoming resources to the development and growth of the provision for 19-25 year olds with physical disabilities and, or, complex medical needs in Worcestershire.
The College continues to seek to develop a new building in order to significantly expand our provision for young adults with physical disabilities and, or, complex health needs in the near future. The current site's facilities remain part of the College provision and will continue to do so when a new site is purchased / developed. During the year ending 31 August 2023, the College increased its research efforts and developed a robust business plan to support our vision of expansion. The majority of costs associated with this were costed to ‘property development’. We endeavour to complement a proportion of our funds in reserves with charitable donations to facilitate our expansion. Working closely with a fundraising consultant to achieve this, a range of charitable trusts were approached and engaged with over the 2022-2023 academic year. Whilst we are yet to secure funds to purchase a suitable property, our efforts remain focussed on underpinning the work that has already been established. We will continue to work closely with our consultants to develop a strategy for our vision to becomea reality.
As an educational charity, we enjoy tax exemption from our educational activities and on other income, provided it is applied for our charitable aims, which it always will be. As an educational charity, we are unable to reclaim VAT input tax on our costs.
The trustees have set a budget for the next financial year and regularly review the financial position of the College.
At 31 August 2023, the College had net reserves of £430355 (2022; £291932) and a cash at bank balance of £521063 (2022; £288222).
Page 1
- CHADSGROVE EDUCATIONAL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
FINANCIAL REVIEW
Reserves policy
The trustees regularly monitor the charity's reserves in light of risks and general operational need. It is the charity's policy that unrestricted funds should be maintained at a level sufficient to cover a reasonable proportion of the following educational year's expenditure; this has been maintained throughout the period for review. The trustees consider the charity's current reserves sufficient to enable the charity to continue its operations and fund immediate future activities and planned changes.
FUTURE PLANS
The College is currently located on the grounds of Chadsgrove School in a converted building with limited space. To expand the provision further, for up to 25 students, the College is looking to secure additional larger premises on a different site, either a new build or conversion of an existing building, preferably in the north Worcestershire area.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The trustees are responsible for the overall management and control of the College and meet regularly. The day to day running is delegated to Rebecca Gayden (Vice Principal), who reports back to the trustees both informally and at the meetings.
Risk management
The trustees are responsible for the overseeing of risks faced by the College. Detailed considerations of risk are delegated to the management of the College. Risks are identified, assessed and controls established throughout the year, and formal policies have been introduced to deal with all the key risks it faces.
The main risks that the trustees have identified and the plans to mitigate those risks are:
Reputation. The College's success is built on its reputation for the education and well-being of the 19-25 year olds attending the provision. We manage this through external advisor visits, internal monitoring, and through compliance with various policies including Safeguarding, Safer Recruitment, Code of Conduct. The College is inspected by Ofsted and was rated ‘Outstanding’ in March 2022.
Finances. The ability to continue to provide an appropriate education curriculum and enhancement activities for our young people, all of whom have complex needs, is dependent on funding from the Education and Skills Funding Agency (ESFA), Worcestershire County Council (WCC) and other Local Authorities (LAs) and so the College is at risk if the criteria for receiving that funding are changed. The availability of the funding is kept under review by close liaison with the ESFA and WCC and other relevant LAs.
Student roll. The College's strategic plans are based on a minimum of 10 students on roll each academic year. The trustees and the Vice Principal carefully plan and review placements to ensure that available places are filled such that student numbers are sufficient and do not fall below 10. Should numbers fall to an untenable figure, our Reserves Policy would come into force to cover any shortfall in income, whilst the College liaises with Local Authorities to fill spaces.
Loss of experienced key staff. Given the complexity of needs of the students at the College, loss of experienced key staff could have a detrimental impact on the students. Whilst the key staff have remained stable over the past year the trustees and Vice Principal carefully manage any potential changes to staff and have rigorous procedures in place for staff recruitment. Investment is made into staff training which is delivered through robust training plans which continually develop staff knowledge and skills to aid their competencies.
Through the risk management processes established for the College, the trustees are satisfied that the major risks identified are adequately mitigated where necessary. It is recognized that systems can only provide reasonable, but not absolute, assurance that major risks have been adequately managed.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 10161153 (England and Wales)
Registered Charity number
1171301
Page 2
- CHADSGROVE EDUCATIONAL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
| Registered office | Registered office |
|---|---|
| Meadow Road | |
| Catshill | |
| Bromsgrove | |
| Worcestershire | |
| B61 OJL | |
| Trustees | |
| Mrs D Rattley | |
| Ms F Williams | |
| R Dill-Russell | |
| Ms S Keane (resigned 3.3.2023) | |
| Ms D Garland | |
| Ms D Hannibal | (resigned 31.1.2024) |
| Independent Examiner | |
| D R Burman FCA | |
| Charles Lovell | & Co Limited |
| Chartered Certified Accountants | |
| and Statutory Auditors | |
| 8 Church Green East | |
| Redditch | |
| Worcestershire | |
| B988BP |
Registered Bank Account
Bank: Barclays Bank UK PLC Account Name: Chadsgrove Educational Trust Sort Code: 20-45-45 Account Number: 83316661
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 22 April 2024 and signed on its behalf by:
arn Mrs D Rattley - Trustee
Page 3
- INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHADSGROVE EDUCATIONAL TRUST
Independent examiner's report to the trustees of Chadsgrove Educational Trust ("the Company’) | report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.
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, | 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 | have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. | can confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
i? 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
-
- 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)).
| 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.
DR Burman FCA
The Institute of Chartered Accountants in England and Wales
Charles Lovell & Co Limited Chartered Certified Accountants
and Statutory Auditors
8 Church Green East Redditch Worcestershire B98 8BP
22 April 2024
Page 4
- CHADSGROVE EDUCATIONAL TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
| 31.8.23 | 318.22 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 2 | - | 17,834 | 17,834 | 45 |
| Charitable activities | 3 | ||||
| Education for pupils19-25 years old. | 697,429 | 25,896 | 723,325 | 696,348 | |
| Total | 697,429 | 43,730 | 741,159 | 696,393 | |
| EXPENDITURE ON | |||||
| Charitable activities | 4 | ||||
| Education for pupils19-25 years old. | 576,073 | 26,663 | 602,736 | 469,848 | |
| NET INCOME | 121,356 | 17,067 | 138,423 | 226,545 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 278,922 | 13,010 | 291,932 | 65,387 | |
| TOTALFUNDSCARRIEDFORWARD | 400,278 | 30,077 | 430,355 | 291,932 |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 5
' CHADSGROVE EDUCATIONAL TRUST
.
.
BALANCE SHEET 31 AUGUST 2023
- .
| 31.8.23 | 31.8.22 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 8 | 4,338 | - | 4,338 | 89,165 |
| Cash at bank | 488,033 | 33,030 | 521,063 | 288,222 | |
| 492,371 | 33,030 | 525,401 | 377,387 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 9 | (92,093) | (2,953) | (95,046) | (85,455) |
| NET CURRENTASSETS | 400,278 | 30,077 | 430,355 | 291,932 | |
| TOTAL ASSETS LESS CURRENT | LIABILITIES | 400,278 | 30,077 | 430,355 | 291,932 |
| NETASSETS | 400,278 | 30,077 | 430,355 | 291,932 | |
| FUNDS | 10 | ||||
| Unrestricted funds | 400,278 | 278,922 | |||
| Restricted funds | 30,077 | 13,010 | |||
| TOTALFUNDS | 430,355 | 291,932 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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 22 April 2024 and were signed on its behalf by:
D Rattley - Trustee
The notes form part of these financial statements
Page 6
- CHADSGROVE EDUCATIONAL TRUST
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023
| 31.8.23 | 31.8.22 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated from operations | 1 | 232,841 | 221,696 |
| Net cash provided by operating activities | 232,841 | 221,696 | |
| Change in cash and cash equivalents in | |||
| the reporting period | 232,841 | 221,696 | |
| Cash and cash equivalents at the | |||
| beginning ofthe reporting period | 288,222 | 66,526 | |
| Cash and cash equivalents at the end of | |||
| thereportingperiod | 521,063 | 288,222 |
The notes form part of these financial statements
Page 7
CHADSGROVE EDUCATIONAL TRUST
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023
| 1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING | ACTIVITIES | |
|---|---|---|---|---|
| 31.8.23 | 31.8.22 | |||
| £ | £ | |||
| Net income for the reporting period (as perthe Statement of Financial | ||||
| Activities) | 138,423 | 226,545 | ||
| Adjustments for: | ||||
| Decrease/(increase) in debtors | 84,827 | (87,304) | ||
| Increase in creditors | 9,591 | 82,455 | ||
| Net cash provided by operations | 232,841 | 221,696 | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.9.22 | Cash flow | At 31.8.23 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank | 288,222 | 232,841 | 521,063 | |
| 288,222 | 232,841 | 521,063 | ||
| Total | 288,222 | 232,841 | 521,063 |
The notes form part of these financial statements
Page 8
CHADSGROVE EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
- 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 lreland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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.
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.
DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 31.8.23 | 31.8.22 | |
| £ | £ | |
| Donations | 17,834 | 45 |
| Included in donations and grants were | : The Gosling Foundation £7000, | Catshill & North | Marlbrook Parish |
|---|---|---|---|
| Council £1500 and Crowdfund Worcestershire £5430. | |||
| INCOME FROM CHARITABLE ACTIVITIES | |||
| 31.8.23 | 31.8.22 | ||
| Activity | £ | £ | |
| Funding & grants Education |
for pupils19-25 years old. | 722,651 | 696,348 |
| Bursaries & other income Education |
for pupils19-25 years old. | 674 | - |
| 723,325 | 696,348 | ||
| Grants received, included in the above, are as follows: | |||
| 31.8.23 | 31.8.22 | ||
| £ | £ | ||
| FundingfromDfEandLocalAuthorities | 722,651 | 686,458 |
Page 9
continued...
CHADSGROVE EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2023
4. CHARITABLE ACTIVITIES COSTS
| CHARITABLE ACTIVITIES COSTS | |||
|---|---|---|---|
| Support | |||
| Direct | costs (see | ||
| Costs | note 5) | Totals | |
| £ | £ | £ | |
| Education for pupils19-25 years old. | 363,775 | 238,961 | 602,736 |
| SUPPORT COSTS | |||
| Other | |||
| £ | |||
| Educationforpupils19-25yearsold. | 238,961 |
- TRUSTEES' REMUNERATION AND BENEFITS
During the period, a proportion of one of the trustees’ costs were recharged from Chadsgrove school. These costs reflect the time spent on managing and running Chadsgrove Educational Trust on a day to day basis.
Trustees’ expenses
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
-
STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 31.8.23 | 31.8.22 | |
| £ | £ | |
| Wages and salaries | 438,373 | 357,434 |
| 438,373 | 357,434 | |
| The average monthly number ofemployees during the yearwas as follows: | ||
| 31.8.23 | 31.8.22 | |
| Leadership | 3 | 3 |
| Teachers | 3 | 3 |
| Support staff | 12 | 7 |
| 18 | 13 | |
| No employees received emoluments in excess of£60,000. | ||
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.8.23 | 318.22 | |
| £ | £ | |
| Trade debtors | - | 87,177 |
| Prepayments | 4,338 | 1,988 |
| 4,338 | 89,165 |
Page 10
continued...
CHADSGROVE EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2023
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 31.8.23 | 31.8.22 | |||
| £ | £ | |||
| Accruals and deferred income | 14,953 | 21,036 | ||
| Accrued expenses | 80,093 | 64,419 | ||
| 95,046 | 85,455 | |||
| 10. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.9.22 | in funds | 91.8.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 278,922 | 121,356 | 400,278 | |
| Restricted funds | ||||
| Building & garden projects | 13,010 | 17,067 | 30,077 | |
| TOTAL FUNDS | 291,932 | 138,423 | 430,355 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 697,429 | (576,073) | 121,356 | |
| Restricted funds | ||||
| Building & garden projects | 43,730 | (26,663) | 17,067 | |
| TOTAL FUNDS | 741,159 | (602,736) | 138,423 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.9.21 | in funds | 31.8.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 63,855 | 215,067 | 278,922 | |
| Restricted funds | ||||
| Building & garden projects | 1,532 | 11,478 | 13,010 | |
| TOTALFUNDS | 65,387 | 226,545 | 291,932 |
Page 11
continued...
CHADSGROVE EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2023
10. MOVEMENT IN FUNDS- continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 659,828 | (444,761) | 215,067 |
| Restricted funds | |||
| Building & garden projects | 36,565 | (25,087) | 11,478 |
| TOTALFUNDS | 696,393 | (469,848) | 226,545 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.21 | in funds | 31.8.23 | |
| £ | Es | £ | |
| Unrestricted funds | |||
| General fund | 63,855 | 336 423 | 400,278 |
| Restricted funds | |||
| Building & garden projects | 1,532 | 28,545 | 30,077 |
| TOTALFUNDS | 65,387 | 364,968 | 430,355 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,357,257 | (1,020,834) | 336,423 |
| Restricted funds | |||
| Building & garden projects | 80,295 | (51,750) | 28,545 |
| TOTALFUNDS | 1,437,552 | (1,072,584) | 364,968 |
- RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023.
Page 12
CHADSGROVE EDUCATIONAL TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
;
| 31.8.23 | 31.8.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 17,834 | 45 |
| Charitable activities | ||
| Funding & grants | 722,651 | 696,348 |
| Bursaries & other income | 674 | - |
| 723,325 | 696,348 | |
| Total incoming resources | 741,159 | 696,393 |
| EXPENDITURE | ||
| Charitable activities | ||
| Teachers’ salaries | 199,412 | 142,867 |
| Rent | 17,083 | 15,000 |
| Insurance | 8,901 | - |
| Education equipment | 41,005 | 11,414 |
| Training | 4,527 | 7,706 |
| Office expenses | 613 | 592 |
| Hygiene & cleaning materials | 2,549 | 381 |
| Therapy | 35,219 | 30,916 |
| Other supplies & services | 10,624 | 12,841 |
| Premises maintenance | 31,006 | 23,951 |
| Heat & light | 4,272 | 5,709 |
| Professional fees | 585 | - |
| Subscriptions | 1,889 | 1,804 |
| Independent examiner fees | 2,640 | 1,800 |
| Consultancy | 3,450 | 300 |
| 363,775 | 255,281 | |
| Support costs | ||
| Other | ||
| Support staff salaries | 238,961 | 214,567 |
| Total resources expended | 602,736 | 469,848 |
| Netincome | 138,423 | 226,545 |
This page does not form part of the statutory financial statements
Page 13