|||Page|| |---|---|---|---| |Report ofthe Trustees|1|to|8| |Report ofthe Independent
Auditors|9|to|11| |Statement ofFinancial Activities||12|| |Balance Sheet||13|| |Cash Flow Statement||14|| |Notes to the Cash Flow Statement||15|| |Notes to the Financial Statements|16|to|27| |Detailed Statement ofFinancial Activities|28|to|30| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||(Incorpor|ating
an Inco
for the Year|me and Expend
Ended 31July|iture
Account)
2022||| |---|---|---|---|---|---|---|---|---|---| ||||||||The Petty|31.7.22|31.7.21| ||||||Unrestricted|Restricted|Pool Trust|Total|Total| ||||||funds|funds|fund|funds|funds| |||||Notes|||||| |INCOME AND|||||||||| |ENDOWMENTS||FROM|||||||| |Donations
and legacies|||||7,461|45,867||53,328|16,459| |Charitable
activities|||||||||| |Vocational
Centre|||||2,358,010|||2,358,010|2,372,172| |Outdoor Education||Centre|||166,310|4,964||171,274|31,483| |Petty Pool Plus|||||68,578|||68,578|6,300| |Other trading activities|||||||48,000|48,000|48,000| |Investment
income|||||||22 423|22 423|17,039| |Total|||||2 600,359|50,831|70,423|2,721,613|2491453| |EXPENDITURE|ON||||||||| |Raising funds|||||8,125||9,705|17,830|14,008| |Charitable
activities|||||||||| |Vocational Centre|||||2,392,182|9,398|93,282|2,494,862|2,334,822| |Outdoor Education||Centre|||132,371|4,964||137,335|74,895| |Petty Pool Plus|||||33,129|36000||69 129|| |Total|||||2 565,807|50,362|102987|2 719,156|2 423 725| |Net gains/(losses)
investments|on||||||~104,865)|~104865)|177,178| |NET|||||||||| |INCOME/(EXPENDITURE)
Transfers
between
funds||||18|34,552
10,939|469
~469)|(137,429)
~10,470)|(102,408)|244,906| |Net movement
in||funds|||45,491||(147,899)|(102,408)|244,906| |RECONCILIATION|||OF||||||| |FUNDS|||||||||| |Total funds brought||forward|||592,708||2,359,733|2,952,441|2,707,535| |TOTAL FUNDS|CARRIED||||||||| |FORWARD|||||638 199|-|2,211834|2,850 033|2 952441| ## ||||31|July 2022|||| |---|---|---|---|---|---|---|---| ||||||The Petty|31.7.22|31.7.21| ||||Unrestricted|Restricted|Pool Trust|Total|Total| ||||funds|funds|fund|funds|funds| |||Notes|||||| |FIXEDASSETS|||||||| |Tangible assets||13|107,809||946,618|1,054,427|1,087,662| |Investments||14|||1 404,416|1,404,416|1,115,979| ||||107,809||2,351,034|2,458,843|2,203,641| |CURRENT|ASSETS||||||| |Stocks||15|3,798|||3,798|| |Debtors||16|352,257||(184,263)|167,994|74,013| |Cash at bank|and in hand||585410||52,848|638 258|1,110,530| ||||941,465||(131,415)|810,050|1,184,543| |CREDITORS|||||||| |Amounts
falling due within one|||||||| |year||17|(411,075)||(7,785)|(418,860)|(435,743)| |NET CURRENT ASSETS|||530,390||~139,200|391,19D|748 800| |TOTAL ASSETSLESS|||||||| |CURRENT|LIABILITIES||638,199||2,211,834|2,850,033|2,952,441| |NET ASSETS|||638,199||2211,834|2,850,033|2,952,441| |FUNDS||18|||||| |Unrestricted|funds|||||638,199|592,708| |Endowment|funds|||||2,211,834|2,359733| |TOTAL FUNDS||||||2,850.033|2,952,441| ## |||for the Year Ende|d 31July 2022|| |---|---|---|---|---| ||||31.7.22|31.7.21| |||Notes||| |Cash flows from operating
activities
Cash generated
from operations|||~41,890)|612714| |Net cash (used in)/provided|by operating|activities|~41,890)|612 714| |Cash flows from investing|activities|||| |Purchase oftangible
fixed assets|||(60,379)|(22,525)| |Purchase offixed asset investments|||(800,501)|(187,902)| |Sale oftangible
fixed assets|||876|| |Sale offixed asset investments|||407,199|199,251| |Dividends
received|||22,423|17,039| |Net cash (used in)/provided|by investing|activities|~430 382)|5 863| |Change in cash and cash equivalents||in||| |the reporting
period|||(472,272)|618,577| |Cash and cash equivalents|at the|||| |beginning ofthe reporting|period||1 110530|491,953| |Cash and cash equivalents
the reporting
period|at the end|of|~638 58|1,110530| ## ## |OPERATING ACTIVITI|ES|||||| |---|---|---|---|---|---|---| ||||||31.7.22|31.7.21| |Net (expenditure)/income|for the reporting||period (as per the|||| |Statement ofFinancial Activities)|||||(102,408)|244,906| |Adjustments
for:||||||| |Depreciation
charges|||||93,614|98,583| |Losses/(gain)
on investments|||||104,865|(177,178)| |Profit on disposal offixed assets|||||(876)|| |Dividends
received|||||(22,423)|(17,039)| |Increase in stocks|||||(3,798)|| |(Increase)/decrease
in debtors
(Decrease)/increase
in creditors|||||(93,981)
~16883|365,861
97581| |Net cash (used in)/provided||by operations|||~41,8903|612 714| |ANALYSIS OF CHANGES||IN NET FUNDS||||| |||||At 1.8.21|Cash flow|At 31.7.22| |Net cash||||||| |Cash at bank and in hand||||1 110530|~472
72|638258| |||||1,110,530|~472/72|638258| |Total||||1 110530|~472 272|638258| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |DONATIONS
AND|LEGACIES|||||| |---|---|---|---|---|---|---| ||||The|Petty|31.7.22|31.7.21| ||Unrestricted|Restricted|Pool|Trust|Total|Total| ||funds|funds||funds|funds|funds| |Donations
Legacies|7,461|45,867|||53,328|6,668
~9791| ||~7461|45,867|||~53 328|16459| ## ## ||||||||The Petty|31.7.22|31.7.21| |---|---|---|---|---|---|---|---|---|---| ||||||Unrestricted|Restricted|Pool Trust|Total|Total| ||||||funds|funds|funds|funds|funds| ||Management
charge||||||~48 000|48,000|~48 000| |4.|INVESTMENT|INCOME|||||||| ||||||||The Petty|31.7.22|31.7.21| ||||||Unrestricted|Restricted|Pool Trust|Total|Total| ||||||funds|funds|funds|funds|funds| ||Other fixed asset|invest-|||||||| ||FII||||||22 423|~22 423|~17 039| ||INCOME FROM CHARITABLE ACTIVITIES||||||||| |||||||||31.7.22|31.7.21| |||||Activity|||||| ||Sales and supplies|||Vocational Centre||||43,379|23,927| ||Grants|||Vocational Centre|||||5,000| ||Service level agreements|||Vocational Centre||||2,314,631|2,343,245| ||Sales and supplies|||Outdoor Education||Centre||166,310|31,483| ||Grants|||Outdoor Education||Centre||4,964|| ||Sales and supplies|||Petty Pool Plus||||68 578|6 300| |||||||||2 597862|2,409 955| ||Grants received, included|||in the|above, are as follows:||||| |||||||||31.7.22|31.7.21| ||Swire Charitable|Trust|||||||5,000| ||Brabners LLP|||||||~4964|| |||||||||~4964|~5000| |6.|RAISING FUNDS||||||||| ||Raising donations||and|legacies|||The Petty|31.7.22|31.7.21| ||||||Unrestricted|Restricted|Pool Trust|Total|Total| ||||||funds|funds|funds|funds|funds| ||Staffcosts||||~8125|||~8125|~4819| ## ## ## ## ||Investment|management|costs|||||| |---|---|---|---|---|---|---|---|---| |||||||The Petty|31.7.22|31.7.21| ||||Unrestricted||Restricted|Pool Trust|Total|Total| |||||funds|funds|fund|funds|funds| ||Portfolio management|||||~9705|~9705|9,189| ||Aggregate|amounts||8,125||~9705|~17 830|~14 008| |7.|CHARITABLE ACTIVITIES COSTS|||||||| ||||||||Support|| |||||||Direct|costs (see|| |||||||Costs|note 8)|Totals| ||Vocational|Centre||||2,033,810|461,052|2,494,862| ||Outdoor Education Centre|||||132,004|5,331|137,335| ||Petty Pool|Plus||||68,629|500|69 129| |||||||2 234443|466 883|2 701 326| |S.|SUPPORT|COSTS||||||| ||||||||Governance|| |||||||Management|costs|Totals| ||Vocational|Centre||||372,137|88,915|461,052| ||Outdoor Education Centre|||||5,073|258|5,331| ||Petty Pool|Plus||||500||500| |||||||377 710|89,173|466 883| |9.|NET INCOME/(EXPENDITURE)|||||||| ||Net income/(expenditure)||is stated|after charging/(crediting):||||| ||||||||31.7.22|31.7.21| ||Auditors'
remuneration||||||4,680|6,000| ||Depreciation - owned assets||||||93,614|98,583| ||Other operating
leases
Surplus on disposal offixed assets||||||43,619
~876)|39,375| ## ## ## ## ## |STAF|FCOSTS||| |---|---|---|---| |||31.7.22|31.7.21| |Wages|and salaries|1,789,257|1,522,965| |Social|security costs|148,066|120,382| |Other|pension costs|81 886|44 922| |||1989208|1688269| ||||31.7.22|31.7.21| |---|---|---|---|---| |Management,|Admin|&Teaching|79|69| |The number ofemployees
whose employee benefits|(excluding
employer
pension costs) exceeded|f60,000w| |---|---|---| ||31.7.22|31.7.21| |f60,001 - 670,000|1|1| |f80,001 - f90,000|1|| |F100,000- F105,000||| ## ## |||||||Year Ended|Year Ended| |---|---|---|---|---|---|---|---| |||||||31.7.22|31.7.21| ||||Unrestricted|Restricted funds|The Petty Pool||| ||||funds||Trust funds|Total funds|Total funds| |Unrealised|gains/(losses)||||||| |- on fixed|asset investments||||(66,213)|(66,213)|162,025| |Realised gains/(losses)||on|||||| |fixed asset|investments||||||| ## |13.|TANGIBLE FIXEDASSETS||||| |---|---|---|---|---|---| ||||Freehold|Classroom|Plant and| ||||property|Building|machinery| ||COST||||| ||At 1 August 2021||889,405|590,053|114,903| ||Additions||||13,022| ||Disposais||||| ||At 31July 2022||889,405|590053|127925| ||DEPRECIATION||||| ||At I August 2021||441,917|43,679|90,541| ||Charge for year||24,534|22,710|13,514| ||Eliminated
on disposal||||| ||At 31July 2022||466 451|66 389|104055| ||NET BOOK VALUE||||| ||At 31July 2022||422 954|523 664|23 870| ||At 31 July 2021||447,488|546,374|24 362| |||Fixtures|||| |||and|Motor|Computer|| |||fittings|vehicles|equipment|Totals| ||COST||||| ||At 1 August 2021|43,646|148,144|52,418|1,838,569| ||Additions
Disposals|21,250|~5,000)|26,107|60,379
~5000)| ||At 31July 2022|64,896|143 144|78,525|1,893948| ||DEPRECIATION||||| ||At 1 August 2021
Charge for year
Eliminated
on disposal|43,100
1,685|107,646
17,392
~5000)|24,024
13,779|750,907
93,614
~5000)| ||At 31July 2022|44 785|120038|37803|839521| ||NET BOOK VALUE||||| ||At 31 July 2022|20,111|23,106|40 722|1 054,427| ||At 31 July 2021|546|40498|28,394|1 087662| ## ## |||||31.7.22|31.7.21| |---|---|---|---|---|---| |Shares||||931,660|1,080,509| |Other||||472 756|35470| |||||1 404,416|1,115979| |Additional
information||as follows:|||| ||||||Listed| ||||||investments| |MARKET|VALUE||||| |At 1 August|2021||||1,080,509| |Additions|||||363,215| |Disposals
Revaluations|||||(445,851)
~66213)| |At 31 July 2022|||||931660| |NET BOOKVALUE|||||| |At 31 July 2022|||||931660| |At 31July 2021|||||1 080,509| |||||31.07.22|31.07.21| |UK||||779,109|1,018,062| |USA||||152,151|| ||||||45,824| |Europe||||400|| ||||||16623| |||||931,660|1 080 509| |The change|in valuation|in the year was|(f66,213).||| |Investments|(neither listed nor unlisted)||were as follows:||| |||||31.7.22|31.7.21| |Funds held|by broker|||472 756|35470| ## |15.|STOCKS|||| |---|---|---|---|---| ||||31.7.22|31.7.21| ||Stocks||~3798|| |16.|DEBTORS:|AMOUNTS FALLING DUE WITHIN ONE YEAR||| ||||31.7.22|31.7.21| ||Trade debtors||86,600|23,592| ||Other debtors||44,514|| ||Prepayments|and accrued income|36880|50421| ||||167994|74 013| ## |CREDITORS: AMOUNTS FALLING DUE WITHIN|ONE YEAR|| |---|---|---| ||31.7.22|31.7.21| |Trade creditors|59,247|63,258| |Social security and other taxes|37,826|30,406| |Other creditors|203|8,571| |Accruals and deferred income|321,584|333,508| ||418,860|435 743| |Deferred|income|comprises
sales invoices raised in|advance ofthe year to whic|h it relates.| |---|---|---|---|---| |||||31.07.22| |Balance|as at 1st|August 2021||3,000| |Amount|released|to income earned from charitable|activities|(3,000)| |Amount|deferred|in year||17,622| |Balance|as at 31stJuly 2022|||17622| ## ## ## |MOVEMENT IN FUNDS||||||| |---|---|---|---|---|---|---| |||||Net|Transfers|| |||||movement|between|At| ||||At 1.8.21|in funds|funds|31.7.22| |Unrestricted
funds||||||| |General fund|||592,708|34,552|10,939|638,199| |Restricted
funds||||||| |Fundraising
day costs match||||469|(469)|| |The Petty Pool Trust|||2,359,733|(137,429)|(10,470)|2,211,834| |TOTAL FUNDS||||||| |Net movement
in funds, included||in the above are as follows:||||| ||||Incoming|Resources|Gains and|Movement| ||||resources|expended|losses|in funds| |Unrestricted
funds||||||| |General fund|||2,600,359|(2,565,807)||34,552| |Restricted funds||||||| |Petty Pool Plus|||36,000|(36,000)||| |Purchase ofcanoes and equipment|||4,964|(4,964)||| |Provision ofbird therapy for
Fundraising
day costs match|the students||5,000
4 867|(5,000)
~4,398)||469| ||||50,831|(50,362)||469| |The Petty Pool Trust|||70,423|(102,987)|(104,865)|(137,429)| |TOTALFUNDS|||2 721,613|~2719 156)|~104865)|~102408)| |Comparatives
for movement|in|funds||||| ||||||Net|| ||||||movement|At| |||||At 1.8.20|in funds|31.7.21| |Unrestricted
funds||||||| |General fund||||493,308|99,400|592,708| |The Petty Pool Trust||||2,214,227|145,506|2,359,733| |TOTAL FUNDS||||2,707 535|244 906|2 952441| ## ## |||Incoming|Resources|Gains and|Movement| |---|---|---|---|---|---| |||resources|expended|losses|in funds| |Unrestricted|funds||||| |General fund||2,415,368|(2,315,968)||99,400| |The Petty Pool Trust||76,085|(107,757)|177,178|145,506| |TOTAL FUNDS||2 491453|~2423 725)|177,178|244 906| |The moveme|nt
in fu|nds ofthe linked charity,|The Petty Pool Trust, are as foll|ows:||| |---|---|---|---|---|---|---| |||||Net||| |||||movements|in|| ||||At 1.8.21|funds||At 31.7.22| |Unrestricted|funds|||||| |General fund|||141,693|(56,508)||85,185| |Designated|building|funds|1 082 862|756||1 083 618| ||||1,243,754|(55,752)||1,168,803| |Legacy Endowment||fund|1 135 178|~92 147||1 043 031| ||||2 359733|~137429||2,211834| ## ## ## ## ## ||||Detailed Statement|ofFinancial|Activities||| |---|---|---|---|---|---|---|---| ||||for the Year Ended 31July||2022||| ||||||The Petty|31.7.22|31.7.21| ||||Unrestricted|Restricted|Pool Trust|Total|Total| ||||funds|funds|fund|funds|funds| |INCOME AND ENDOWMENTS|||||||| |Donations
and legacies|||||||| |Donations|||7,461|45,867||53,328|6,668| |Legacies|||||||9791| ||||7,461|45,867||53,328|16,459| |Other trading activities|||||||| |Management
charge|||||48,000|48,000|48,000| |Investment
income|||||||| |Other fixed asset invest - FII|||||22,423|22,423|17,039| |Charitable
activities|||||||| |Sales and supplies|||278,267|||278,267|61,710| |Grants||||4,964||4,964|5,000| |Service level agreements|||2314631|||2 314,631|2,343 245| ||||2 592 898|4 964||2 597862|2409 955| |Total incoming
resources|||2,600,359|50,831|70,423|2,721,613|2,491,453| |EXPENDITURE|||||||| |Raising donations|and|legacies|||||| |Wages
Social security|||7,001
844|||7,001
844|4,157
496| |Pensions|||280|||280|166| ||||8,125|||8,125|4,819| |Investment
management||costs|||||| |Portfolio management|||||9,705|9,705|9,189| |Charitable
activities|||||||| |Wages
Social security|||1,567,544
130,639|36,000||1,603,544
130,639|1,402,938
110,174| |Pensions|||46,887|||46,887|41,753| |Rates and water|||4,088|||4,088|3,025| |Insurance|||39,733|||39,733|36,307| |Light and heat
Postage and stationery
Residents'
and students'
Motor expenses
Farm costs||trips|42,155
31,750
17,265
31,075
13,331|||42,155
31,750
17,265
31,075
13,331|37,726
37,566
9,451
16,986
23,592| |Repairs
Carried forward|||50,801
1,975,268|4,964
40,964||55,765
2,016,232|181,114
1,900,632| ## ||||Detailed Statement|ofFinancial|Activities||| |---|---|---|---|---|---|---|---| ||||for the Year Ended 31July||2022||| ||||||The Petty|31.7.22|31.7.21| ||||Unrestricted|Restricted|Pool Trust|Total|Total| ||||funds|funds|fund|funds|funds| |Charitable
activities|||||||| |Brought forward|||1,975,268|40,964||2,016,232|1,900,632| |Educational
costs|||39,292|9,398||48,690|19,940| |Catering and accommodation|||37,193|||37,193|24,368| |Bad debts|||3,590|||3,590|409| |Donations|||||36,000|36,000|| |Freehold property|||||24,534|24,534|24,534| |Classroom
building|||||22,710|22,710|22,711| |Plant and machinery|||13,514|||13,514|14,068| |Fixtures and fittings|||1,685|||1,685|7,164| |Motor vehicles|||17,392|||17,392|20,657| |Computer
equipment|||13,779|||13,779|9,449| |Loss on sale oftangible
assets||fixed|~876)|||~876)|| ||||2,100,837|50,362|83,244|2,234,443|2,043,932| |Support costs|||||||| |Management|||||||| |Wages|||178,712|||178,712|115,870| |Social security|||16,583|||16,583|9,712| |Pensions|||4,718|||4,718|3,003| |Other operating
leases
Telephone
Advertising
Sundries|||43,619
19,226
4,453
7,036|||43,619
19,226
4,453
7,038|39,375
9,630
1,384
6,710| |Bank charges|||412||106|518|509| |Subscriptions|||6,500|||6,500|2,355| |Training costs
Health 4 safety costs
Cleaning
and laundry
Recruitment
costs||costs|34,046
18,702
31,900
11695|||34,046
18,702
31,900
11695|16,612
30,223
37,680
9758| ||||377,602||108|377,710|282,821| |Governance
costs|||||||| |Auditors'
remuneration|||4,680|||4,680|6,000| |Legal and professional
Consultancy
fees
Management
charge||fees|13,477
13,086
48 000||2,145
7,785|15,622
20,871
48 000|11,435
17,529
48 000| ||||79243||9,930|89 173|82 964| |Total resources expended|||2,565,807|50 362|102,987|2 719 156|2 423,725| |Net income before gains and
losses|||34,552|469|(32,564)|2,457|67,728| |Realised recognised
Carried forward|gains and||losses
34,552|469|(32,564)|2,457|67,728| |||Detailed Statement|ofFinancial|Activities||| |---|---|---|---|---|---|---| |||for the Year Ended 31July||2022||| |||||The Petty|31.7.22|31.7.21| |||Unrestricted|Restricted|Pool Trust|Total|Total| |||funds|funds|fund|funds|funds| ||||||f,|| |Realised recognised|gains and losses|||||| |Brought forward||34,552|469|(32,564)|2,457|67,728| |Realised gains/(losses)|on fixed|||||| |asset investments||||~104865)|~)04,865)|177 178| |Net (expenditure)/income||34 552|469|~137429)|~102408)|244,906|