2021-07-31-accounts - Petty Pool

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		Page
Chairman's Report
Report ofthe Trustees	2	to	9
Report ofthe Independent Auditors	10	to	12
Statemeat ofFinancial Activities		13
Balaace Sheet		14
Cash Flow Statement
Notes to the Cash Flow Statement		16
Notes to the Financial Statements	17	to	28
Detailed Statement ofFinancial Activities	29	to	31

				for the Year	Ended 31July 2	021
							31.7.21	31.7.20
				Unrestricted	Restricted	Endowment	Total	Total
				funds	funds	fund	funds	funds
			Notes	f	f.	f.	6	f
INCOME AND
ENDOWMENTS	FROM
Donations and legacies			2	5,413		11,046	16,459	151,656
Charitable activities			5
Vocational Centre				2,372,172			2,372,172	2,174,783
Outdoor Education	Centre			31,483			31,483	22,539
Petty Pool Plus				6,300			6,300	37,694
New Classroom Build								45,000
Other trading activities						48,000	48,000	41,425
Investment income						17,039	17,039	24,813
Total				2,415,368		76,085	2,491,453	2,497,910
EXPENDITURE	ON
Raising funds			6	4,819		9,189	14,008	40,202
Charitable activities			7
Vocational Centre				2,236,255		98,567	2,334,822	2,146,097
Outdoor Education	Centre			74,895			74,895	143,012
Petty Pool Plus								11,560
Total				2,315,969		107,756	2,423,725	2,340,871
Net gains/(losses)	on
investments						177,178	177,178	(57,223)
NET INCOME				99,399		145,507	244,906	99,816
RECONCILIATION		OF
FUNDS
Total funds brought		forward		493,308		2,214,227	2,707,535	2,607,719
TOTAL FUNDS	CARRIED
FORWARD				592,707		2,359,734	2,952,441	2,707,535

						31.7.21	31.7.20
			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	fund	funds	funds
		Notes	f	f		f	f
FIXEDASSETS
Tangible assets		14	93,800		993,862	1,087,662	1,163,720
Investments		15			1,115,979	1,115,979	950,150
			93,800		2,109,841	2,203,641	2,113,870
CURRENT	ASSETS
Debtors		16	64,222		9,791	74,013	439,874
Cash at bank	and in band		870,429		240,101	1,110,530	491,953
			934,651		249,892	1,184,543	931,827
CREDITORS
Amounts falling due within one
year		17	(435,743)			(435,743)	(338,162)
NET CURRENT ASSETS			498,908		249,892	748,800	593,665
TOTAL ASSETSLESS
CURRENT	LIABILITIES		592,708		2,359,733	2,952,441	2,707,535
NET ASSETS			592,708		2,359,733	2,952,441	2,707,535
FUNDS		18
Unrestricted	funds					592,708	493,308
Endowment	funds					2,359,733	2,214,227
TOTAL FUNDS						2,952,441	2,707,535

		for the Year Ende	d 31July 2021
			31.7.21	31.7.20
		Notes	f	f
Cash fiows from operating	activities
Cash generated &om operations			612,714	198,820
Net cash provided by operating activities			612,714	198,820
Cash flows from investing	activities
Purchase oftangible fixed assets			(22,525)	(190,765)
Purchase offixed asset investments			(187,902)	(261,485)
Sale offixed asset investments			199351	268,002
Dividends received			17,039	24,813
Net cash provided by/(used	in) investing	activities	5,863	(159,435)
Change in cash and cash equivalents		in
the reporting period			618,577	39,385
Cash aad cash equivalents	at the
beginning ofthe reporting	period		491,953	452,568
Cash and cash equivalents	at the end	of
the reporting period			1,110,530	491,953

	RECONCILIATION	RECONCILIATION	RECONCILIATION	OFNET INCOME TO NET CASH FLOW FROM	OFNET INCOME TO NET CASH FLOW FROM	OPERATING ACTIVITIES	OPERATING ACTIVITIES
						31.7.21	31.7.20
						I
	Net income	for the	reporting		period (as per the Statement ofFinancial
	Activities)					244,906	99,816
	Adjustments	for:
	Depreciation	charges				98,583	96,026
	(Gain)flosses	on investments				(177,178)	57,223
	Dividends received					(17,039)	(24,813)
	Decrease/(increase)		in	debtors		365,861	(101,258)
	Increase in creditors					97,581	71,826
	Net cash provided		by	operations		612,714	198,820
2.	ANALYSIS	OFCHANGES			IN NET FUNDS
					At 1.8.20	Cash flow	At 31.7.21
						f	f
	Net cash
	Cash at bank	and in	hand		491,953	618,577	1,110,530
					491,953	618,577	1,110,530
	Total				491,953	618,577	1,110,530

Freehold property	-2%,3.3%aad 6.67%on cost
Plant and machinery	-25%on cost and 10%on cost
Fixtures and fittings	-25%on cost
Motor vehicles	-25%on cost
Computer equipment	-25%on cost

DONATIONS AND	LEGACIES
				31.7.21	31.7.20
	Unrestricted	Restricted	Endowment	Total	Total
	funds	funds	funds	funds	funds
			f	f	E
Donations	5,413		1,255	6,668	151,656
Legacies			9,791	9,791
	5,413		11,046	16,459	151,656

							31.7.21	31.7.20
				Unrestricted	Restricted	Endowment	Total	Total
				funds	funds f.	fundsf	funds f.	funds f
	Fundraising events							425
	Management charge					48,000	48,000	41,000
						48,000	48,000	41,425
4.	INVESTMENT	INCOME
							31.7.21	31.7.20
				Unrestricted	Restricted	Endowment	Total	Total
				funds	funds	funds	funds	funds
					f.		f.
	Other fixed asset	invest-
	Fll					17,039	17,039	24,813
	INCOME FROM CHARITABLE ACTIVITIES
							31.7.21	31.7.20
				Activity				f
	Sales and supplies			Vocational Centre			23,927	21,565
	Grants			Vocational Centre			5,000
	Service level agreements			Vocational Centre			2,343,245	2,153418
	Sales and supplies			Outdoor Education	Centre		31,483	22,539
	Sales and supplies			Petty Pool Plus			6,300	37,694
	Grants			New Classroom Build				45,000
							2,409,955	2,280,016
	Grants received, included		in the	above, are as follows:
							31.7.21	31.7.20
							f
	Baily Thomas Charitable		Fund					20,000
	Edward Gostling	Foundation						25,000
	Swire Charitable	Trust					5,000
							5,000	45,000

							31.7.21	31.7.20
			Unrestricted		Restricted	Endowment	Total	Total
				fundsf	funds f	funds	funds 6	funds f.
	Staffcosts			4,819			4,819	31,449
	Investment	management	costs
							31.7.21	31.7.20
			Unrestricted		Restricted	Endowment	Total	Total
				funds	funds f	fundsf	funds	funds f.
	Portfolio management					9,189	9,189	8,753
	Aggregate	amounts		4,819		9,189	14,008	40,202
7.	CHARITABLE ACTIVITIES COSTS
							Support
						Direct	costs(see
						Costs f.	note 8) f.	Totals f
	Vocational	Centre				1,975,208	359,614	2,334,822
	Outdoor Education Centre					68,724	6,171	74,895
						2,043,932	365,785	2,409,717
8.	SUPPORT	COSTS
							Governance
						Management	costs	Totals
						f		E
	Vocational	Centre				276,650	82,964	359,614
	Outdoor Education Centre					6,171		6,171
						282,821	82,964	365,785
9.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure)		is stated	ager charging/(crediting):
							31.7.21	31.7.20
								f
	Auditors' remuneration						6,000	3,000
	Depreciation - owned assets						98,583	96,025
	Other operating leases						39,375	62,353

STAFF COSTS
					31.7.21	31.7.20
Wages and salaries					1,522,965	1,348,974
Social security costs					120,382	106,602
Other pension costs					44,922	43,210
					1,688,269	1,498,786
The average monthly	number ofemployees		during the year was	as follows:
					31.7.21	31.7.20
Management, Admin	&Teaching				69	69
The number ofemployees		whose employee	benefits (excluding	employer pension	costs) exceeded	f60,000 was;
					31.7.21	31.7.20
f60,001-670,000					1	1
KI00,000-6105,000					1

							Year Ended	Year Ended
							31.7.21	31.7.20
			Unrestricted	Restricted	The Petty Pool
			funds	funds	Trust	funds	Total funds	Total funds
			f.	f	f.		f.
Unrealised	gains/(losses)
on fixed asset investments					162,025		162,025	(53,613)
Realised gains/(losses)		on
fixed asset	investments					15,153	15,153	(3,610)
					177,178		177,178	(57,223)

TANGIBLE FIXEDASSETS
		Freehold	Classroom	Plant and
		property f	Building f	machinery f
COST
At I August 2020		889,405	590,053	104,803
Additions				10,100
Disposals
At 31July 2021		889,405	590,053	114,903
DEPRECIATION
At I August 2020		417,383	20,968	76,473
Charge for year		24,534	22,711	14,068
Eliminated on disposal
At 31July 2021		441,917	43,679	90,541
NET BOOKVALUE
At 31July 2021		447,488	546,374	24,362
At 31July 2020		472,022	569,085	28,330
	Fixtures
	and	Motor	Computer
	fittings f.	vehicles f	equipment 8	Totals f
COST
At I August 2020	43,646	148,144	49,422	1,825,473
Additions			12,425	22,525
Disposals			(9,429)	(9,429)
At 31July 2021	43,646	148,144	52,418	1,838,569
DEPRECIATION
At I August 2020	35,936	86,989	24,004	661,753
Charge for year	7,164	20,657	9,449	98,583
Eliminated on disposal			(9,429)	(9,429)
At 31July 2021	43,100	107,646	24,024	750,907
NKT BOOKVALUE
At 31July 2021	546	40,498	28,394	1,087,662
At 31July 2020	7,710	61,155	25,418	1,163,720

			Notes to tbe Financial Statements - continued far the Year Ended 31July 2021	Notes to tbe Financial Statements - continued far the Year Ended 31July 2021
15.	FIXEDASSET		INVESTMENTS
					31.7.21	31.7.20
					f
	Shares				1,080,509	932,309
	Other				35,470	17,841
					1,115,979	950,150
	Additional	information		as follows:
						Listed
						investments
						6
	MARKET	VALUE
	At I August	2020				932,309
	Additions					170,273
	Disposals					(184,098)
	Revaluations					162,025
	At 31 July 2021					1,080,509
	NET BOOK VALUE
	At 31July 2021					1,080,509
	At 31July 2020					932,309
					31.07.21	31.07.20
					6	f
	UK Equities &Fixed Interest				409,961	384,596
	Overseas Equities				621,613	470,478
	Alternatives				48,935	77,236
					1,080,509	932,310
	The change	in valuation		in the year was f.162,025.
	Investments	(neither listed nor unlisted) were as follows:
					31.7.21	31.7.20
					f	f.
	Funds held	by broker			35,470	17,841
	The investments		are held by The Petty Pool Trust (the linked charity).

DEBTORS:	for tbe Year Ended 31 AMOUNTS FALLING DUE~ONE	July 2021 YEAR
		31.7.21	31.7.20
		E	f
Trade debtors		23,592	406,756
Other debtors			4,499
Prepayments	and accrued income	50,421	28,619
		74,013	439,874

CREDI	TORS: AMOUNTS FA	LLING DUE WI	THIN ONE YEAR
				31.7.21	31.7.20
Trade creditors				63,258	75,678
Social security and other taxes				30,406	25,834
Other creditors				8,571	205
Accruals	and deferred income			333,508	236,445
				435,743	338,162
Deferred	income comprises sales	invoices raised in	advance ofthe year to which it relates.
					31.07.21
					f
Balance	as at 1stAugust 2020
Amount	released to income earned	from charitable	activities
Amount	deferred in year				3,000
Balance	as at 31stJuly 2021				3,000
MOVEMENT IN FUNDS
				Net
				movement	At
			At 1.8.20	in funds	31.7.21
				8	8
Unrestricted funds
General	fund		493,308	99,400	592,708
Endowment funds
The Petty Pool Trust			2,214,227	145,506	2,359,733
TOTAL	FUNDS		2,707,535	244,906	2,952,441

				Incoming	Resources	Gains and	Movement
				resources f	expended f	losses f.	in funds f
Unrestricted	funds
General fund				2,415,368	(2,315,968)		99,400
Eadowment	funds
The Petty Pool Trust				76,085	(107,757)	177,178	145,506
TOTAL FUNDS				2,491,453	(2,423,725)	177,178	244,906
Comparatives	for movement		ia funds
					Net	Transfers
					movement	between	At
				At 1.8.19	in funds	funds	31.7.20
				f	f	f	f,
Unrestricted	funds
General fund				472,839	21,454	(985)	493,308
Restricted funds
New Build Restricted Donations					(985)	985
Endowment	funds
The Petty Pool Trust				2,134,880	79,347		2,214,227
TOTAL FUNDS				2,607,719	99,816		2,707,535
Comparative	net movement	in	funds, included	in the above are as follows:
				Incoming	Resources	Gains and	Movement
				resources f.	expended f.	losses f.	in funds f
Unrestricted	fuads
General fund				2,260,336	(2,238,882)		21,454
Restricted fuads
New Build Restricted Donations				15,481	(16,466)		(985)
Endowment	funds
The Petty Pool Trust				222,093	(85,523)	(57,223)	79,347
TOTAL FUNDS				2,497,910	(2,340,871)	(57,223)	99,816

					Net
					movements	in
				At 1.8.20 f	fundsf		At 31.7.21 f
Unrestricted		funds
General fund				181,970	(40,277)		141,693
Designated	building		funds	1,082,107	755		1,082,862
				1,264,077	(20,323)		1,243,754
Endowment		funds
Legacy Endowment			fund	950,150	185,028		1,135,178
				2,214,227	97,506		2,359,733

				Detailed Statement	ofFinancial	Activities
				for the Year Ended 31July		2021
							31.7.21	31.7.20
				Unrestricted	Restricted	Endowment	Total	Total
				funds	funds	funds	funds	funds
							6	f.
INCOME AND ENDOWMENTS
Donations and legacies
Donations				5,413		1,255	6,668	151,656
Legacies						9,791	9,791
				5,413		11,046	16,459	151,656
Other trading activities
Fundraising events								425
Management charge						48,000	48,000	41,000
						48,000	48,000	41,425
Investmentincome
Other fixed asset invest - PII						17,039	17,039	24,813
Charitable activities
Sales and supplies				61,710			61,710	81,798
Grants				5,000			5,000	45,000
Service level agreements				2,343,245			2,343,245	2,153,218
				2,409,955			2,409,955	2,280.016
Total incoming resources				2,415,368		76,085	2,491,453	2,497,910
EXPENDITURE
Raising donations	and	legacies
Wages				4,157			4,157	27,875
Social security				496			496	2,610
Pensions				166			166	964
				4,819			4,819	31,449
Investment management			costs
Portfolio management						9,189	9,189	8,753
Charitable activities
Wages				1,351,700		51,238	1,402,938	1,243,881
Social security				110,174			110,174	98,909
Pensions				41,753			41,753	39,929
Rates and water				3,025			3,025	2,944
Insurance				36,307			36,307	35,657
Light and heat				37,726			37,726	30,178
Postage and stationery				37,566			37,566	39,050
Residents' and students'		trips		9,451			9,451	23,836
Canied forward				1,627,702		51,238	1,678,940	1,514,384

					Detaged Statement	ofFinancial	Activities
					for the Year Ended 31July		2021
								31.7.21	31.7.20
					Unrestricted	Restricted	Endowment	Total	Total
					funds	funds	funds	funds	funds
					8			f	E
Charitable activities
Brought forward					1,627,702		51,238	1,678,940	1,514,384
Motor expenses					16,986			16,986	26,454
Farm costs					23,592			23,592	16,297
Repairs					181,114			181,114	264,040
Educational costs					19,940			19,940	25,058
Catering and accommodation					24,368			24,368	28,524
Advertising									238
Bad debts					409			409	4,005
Freehold pmperty							24,534	24,534	24,535
Short leasehold							22,711	22,711	20,968
Plant and machinery					14,068			14,068	18,267
Fixtures and fittings					7,164			7,164	11,154
Motor vehicles					20,657			20,657	13,670
Computer equipment					9,449			9,449	7,432
					1,945,449		98,483	2,043,932	1,975,026
Support costs
Management
Wages					115,870			115,870	77,218
Social security					9,712			9,712	5,083
Pensions					3,003			3,003	2,317
Other operating	leases				39,375			39,375	62,353
Telephone					9,630			9,630	9,764
Advertising					1,384			1,384	128
Sundries					6,710			6,710	8,991
Bank charges					424		85	509	727
Subscriptions					2,355			2,355	7,597
Training costs					16,612			16,612	28,517
Health &safety	costs				30,223			30,223	22,204
Cleaning snd laundry			costs		37,680			37,680	20,254
Recruitment costs					9,758			9,758
					282,736		85	282,821	245, 153
Governance costs
Auditors' remuneration					6,000			6,000	3,000
Legal and professional				fees	11,435			11,435	5,344
Consultancy fees					17,529			17,529	31,146
Management charge					48,000			48,000	41,000
					82,964			82,964	80,490
Total resources expended					2,315,968		107,757	2,423,725	2,340,871
Net income before gains				and
losses					99,400		(31,672)	67,728	157,039
Realised recognised		gains and losses
Carried forward					99,400		(31,672)	67,728	157,039

		Detailed Statemen for the Year	t ofFinancial Ended 31July	Activities 2021
					31.7.21	31.7.20
		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	funds	funds
		8	f	f		f,
Realised recognised	gains and losses
Brought forward		99,400		(31,672)	67,728	157,039
Realised gains/(losses)	on fixed
asset investments				177,178	177,178	(57,223)
Net income		99,400		145,506	244,906	99,816