DocuSign Envelope ID: 6B56C756-608F-4B23-8D44-BBCDF192CF02
Charity number: 1185057
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
THE LETHERHEAD INSTITUTE
DocuSign Envelope ID: 6B56C756-608F-4B23-8D44-BBCDF192CF02
THE LETHERHEAD INSTITUTE
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 17 |
DocuSign Envelope ID: 6B56C756-608F-4B23-8D44-BBCDF192CF02
THE LETHERHEAD INSTITUTE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MAY 2021
Trustees Mr P Harrison, Chairman Mrs H Porter Mr J M Hickey Mr G J Clifford Mr M Cole
Charity registered number 1185057 Principal office 67 High Street Leatherhead Surrey KT22 8AH Accountants Menzies LLP Chartered Accountants Ashcombe House 5 The Crescent Leatherhead Surrey KT22 8DY Bankers National Westminster Bank Plc 1 Bridge Street Leatherhead Surrey KT22 8BT Independent Examiner Janice Matthews Menzies LLP 36 Station Road Centrum House Egham Surrey TW20 9LF
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THE LETHERHEAD INSTITUTE
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2021
The Trustees present their annual report together with the financial statements of the charity for the 1 June 2020 to 31 May 2021.
The Trustees all served for the whole year.
Trustees are appointed on the basis of their interest in the local community, as reflected in the Institute’s Trust Deed Objects, with particular regard to their expertise in contractual and construction matters.
Objectives and Activities
Policies and objectives
The objects of the charity are twofold. Firstly, to maintain the Institute building for the benefit of the local community in accordance with the wishes of the benefactor, Abraham Dixon, who presented the building (but provided no endowment) to the local community in 1892 for social, leisure and educational purposes. Secondly, to promote the use of the building for these purposes for the benefit of the inhabitants of Leatherhead and District. A substantial part (70%) of the building now houses the Leatherhead Community Association (Charity No. 1142164) whose purpose is to promote these latter activities.
Main activities undertaken to further the charity's purposes for public benefit
The Trustees have referred to the guidance in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives of the charity and in planning future activities. In particular the Trustees consider how planned activities will contribute to the aims and objectives set.
The Trustees have met to conduct business on six occasions during the year. Our legal advisor is Caroline Walton of Downs Solicitors LLP, Cobham.
The Trustees’ meetings are also attended by the Chairman and Joint Treasurers of the Leatherhead Community Association. This forms a very worthwhile relationship for both charities and ensures co-ordination and co-operation on a wide range of issues.
The Chairman and the Treasurer meet regularly to discuss current matters. There is a part-time administrator and a full-time caretaker. The decisions relating to expenditure are reported and agreed by the Trustees. Expenditure can be seen, as bookkeeping is kept up to date on a monthly basis and is readily available to all Trustees. Bank balances are noted at each meeting.
Financial review
The year produced a surplus of £6,770 (2020: deficit of £12,680). The performance of the charity is satisfactory to the Trustee's expectations.
Review of activities
In the absence of financial endowment, the Trustees continue to lease seven suites of rooms in the building to tenants in order to provide income for the maintenance of the Institute building and for necessary or desirable improvements. The Trustees retain a small office. The remaining rooms, including the main Abraham Dixon Hall (able to seat 160 people), the Small Hall, the Library and five other areas, are leased to the LCA. The LCA pays 70% of the expenses in relation to the rooms that they occupy and 70% of the running costs of the lift and the common parts.
The LCA lease terminated on 17th May 2017 and agreement has been reached on a new 10 year lease at £15,000 per annum which has been signed.
By the collaboration with the LCA, the Trustees fulfil their own obligations to the community as required by the terms of the Institute’s Trust Deed and enable the LCA to achieve its own charitable objects.
However a pandemic, COVID-19, hit the world in March 2020. Government health requirements closed all public gatherings and encouraged all staff to work from home where possible. The ruling seriously affected the work of the LCA. Government Health rules required the use of face masks, sanitising of hands, extra cleaning and social distancing. We implemented all rules and advised all of our tenants that they too were responsible similarly for their own staff. The result of the pandemic places a threat to our income which we are monitoring closely.
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THE LETHERHEAD INSTITUTE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021
In this financial year, we commenced the replacement of some of the windows, most of which were the original Victorian painted timber windows, which showed varying degrees of decay. The building is within the Town Centre Conservation Area and the planners stipulated that any replacement windows should be painted timber and match those which existed. Some small sample windows were provided which were approved by the Planning Authority and in September 2020 a complete elevation of windows was provided where the decay was at its worse. We are grateful to Mole Valley District Council who awarded grants totalling £11,460 towards this work. A second phase is proposed for the next financial year again with part funding by Mole Valley District Council.
In December 2020, the aged timber parquet floor in Abraham Dixon Hall in part lifted for reasons unknown. This area was re-stuck and the floor re-sanded and sealed as this had not been done for over 10 years. Subsequently, further areas lifted for reasons unknown. However, it was noticed that the floor was very thin (5mm) due to historic sanding and the bitumen adhesive had become brittle. The decision was taken during this financial year to replace the floor completely with a 22mm solid beech floor of a type used in multi-purpose halls with this work occurring in May 2021.
The Victorian drains cause ongoing problems in part to the use of wet wipes particularly as a result of their increased use due to the pandemic. This problem is being managed by a combination of signage and vigilance by the caretaker.
The LCA contract with a commercial firm to carry out the cleaning of all the building except Tenants’ offices. There is a charge from the LCA to the Trustees for this service in respect of the common parts. The Trustees employ the caretaker and the LCA contributes towards his salary, pension and NI costs.
The works involved in the essential repair and improvements to the building have been ongoing, within a budget. The cooperation of the Chairman of the LCA, Mrs June Robinson, and her team of LCA Trustees, was much appreciated and continues as a strong link between the Leatherhead Community Association and the Trustees. The LCA attend the LI Trustee meetings.
The caretaker and secretary are well regarded by the Trustees and users of the Institute, and are thanked for their service.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Please note that in November 2019 the net assets and operations of the charity were transferred into a new charity of the same name. The old charity (no.1046688) has been closed and the transfer to the new charity (no. 1185057) is complete.
Reserves policy
The Charity has £102,890 of free reserves (excluding fixed assets) at the year end. The Charity seeks to keep sufficient reserves to enable it to maintain the Institute building and has designated £90,000 out of these free reserves for future repair work.
Structure, governance and management
Constitution
The charity was founded on 21 March 1995 and is governed by the Trust Deed sealed on 21 March 1995, and has the registered charity number 1150587. Until that date the Institute had functioned for community charitable purposes under a Trust Deed of 1892 set up under the authority of the Literacy & Scientific Institutions Act 1854.
Method of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Risk management
The Trustees have considered the major risks faced by the charity and, after review and evaluation, have ensured that systems are in place to manage these.
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THE LETHERHEAD INSTITUTE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021
Trustees' responsibilities statement
The Charity’s Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the income and expenditures of the charity for that period.
In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
Mr P Harrison Trustee
Date: 24-Mar-2022
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THE LETHERHEAD INSTITUTE
INDEPENDENT EXAMINERS' REPORT
Independent examiner's report to the Trustees of The Letherhead Institute ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 May 2021.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Janice Matthews FCA
Dated: 24-Mar-2022
Menzies LLP
Centrum House 36 Station Road Egham Surrey TW20 9LF
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THE LETHERHEAD INSTITUTE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2021
| Note Income from: Donations and legacies 2 Charitable activities 3 Investments Total income Expenditure on: Raising funds 4 Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2021 £ 11,461 - - 11,461 - 11,461 11,461 - - - - |
Unrestricted funds 2021 £ - 90,593 43 90,636 1,106 82,760 83,866 6,770 947,568 6,770 954,338 |
Total funds 2021 £ 11,461 90,593 43 102,097 1,106 94,221 95,327 6,770 947,568 6,770 954,338 |
Total funds 2020 £ 5,000 91,809 377 |
|---|---|---|---|---|
| 97,186 | ||||
| 1,580 108,286 |
||||
| 109,866 | ||||
| (12,680) | ||||
| 960,248 (12,680) |
||||
| 947,568 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 17 form part of these financial statements.
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THE LETHERHEAD INSTITUTE
BALANCE SHEET AS AT 31 MAY 2021
| Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total net assets Charity funds Restricted funds 12 Unrestricted funds 12 Total funds |
12,504 100,320 112,824 (9,934) |
2021 £ 851,448 851,448 102,890 954,338 - 954,338 954,338 |
7,612 97,799 105,411 (9,416) |
2020 £ 851,573 |
|---|---|---|---|---|
| 851,573 95,995 |
||||
| 947,568 | ||||
| - 947,568 |
||||
| 947,568 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Mr P Harrison Chairman
24-Mar-2022 Date:
The notes on pages 8 to 17 form part of these financial statements.
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THE LETHERHEAD INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Letherhead Institute meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
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THE LETHERHEAD INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
1. Accounting policies (continued)
1.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
| Freehold property | - No depreciation charged |
|---|---|
| Fixtures and fittings | - 10% |
| Computer equipment | - 33% |
1.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
1.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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THE LETHERHEAD INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
1. Accounting policies (continued)
1.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
2. Income from donations and legacies
| Grants Total 2020 |
Restricted funds 2021 £ 11,461 5,000 |
Total funds 2021 £ 11,461 5,000 |
Total funds 2020 £ 5,000 |
|---|---|---|---|
3. Income from charitable activities
| Rental Income Total 2020 |
Unrestricted funds 2021 £ 90,593 91,809 |
Total funds 2021 £ 90,593 91,809 |
Total funds 2020 £ 91,809 |
|---|---|---|---|
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THE LETHERHEAD INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
4. Expenditure on raising funds
Costs of raising voluntary income
| Rent and rates Light and heat Insurance Telephone Printing, postage & stationery Total 2020 |
Unrestricted funds 2021 £ 9 389 622 85 1 1,106 1,580 |
Total funds 2021 £ 9 389 622 85 1 1,106 1,580 |
Total funds 2020 £ 21 363 959 233 4 |
|---|---|---|---|
| 1,580 | |||
5. Analysis of expenditure by activities
| Expenditure on charitable activities Total 2020 |
Activities undertaken directly 2021 £ 94,221 108,286 |
Total funds 2021 £ 94,221 108,286 |
Total funds 2020 £ 108,286 |
|---|---|---|---|
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THE LETHERHEAD INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
5. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Repairs and renewals Caretaker salaries and NIC Pension Light and heat Insurance Depreciation Telephone Sundry expenditure Printing, postage & stationery Cleaning Rent and rates Governance costs Total 2020 |
Charitable activities 2021 £ 50,325 17,731 317 1,958 5,597 125 764 132 8 7,027 78 10,159 94,221 108,286 |
Total funds 2021 £ 50,325 17,731 317 1,958 5,597 125 764 132 8 7,027 78 10,159 94,221 108,286 |
Total funds 2020 £ 60,123 16,618 311 3,132 8,630 187 1,165 371 37 5,191 189 12,332 |
|---|---|---|---|
| 108,286 | |||
6. Independent examiner's remuneration
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 3,150 | 3,040 |
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THE LETHERHEAD INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
7. Staff costs
The average number of persons employed by the charity during the year was as follows:
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| Institute staff | 2 | 2 |
No employee received remuneration amounting to more than £60,000 in either year.
The key management personnel of the charity are deemed to be the Trustees due to their close involvement in the running of the charity. During the current and preceeding year, Trustees received no remuneration for their role as key management personnel.
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) .
During the year ended 31 May 2021, no Trustee expenses have been incurred (2020 - £NIL) .
9. Tangible fixed assets
| Cost At 1 June 2020 Depreciation At 1 June 2020 Charge for the year At 31 May 2021 Net book value At 31 May 2021 At 31 May 2020 |
Freehold property £ 851,193 - - - 851,193 851,193 |
Fixtures and fittings £ 21,113 21,113 - 21,113 - - |
Computer equipment £ 8,199 7,819 125 7,944 255 380 |
Total £ 880,505 28,932 125 |
|---|---|---|---|---|
| 29,057 | ||||
| 851,448 | ||||
| 851,573 |
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THE LETHERHEAD INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
9. Tangible fixed assets (continued)
The Freehold property is not depreciated as its market value is deemed to be in excess of the carrying value, and the building is maintained such that its estimated useful life would render depreciation charges to be immaterial.
10. Debtors
| Due within one year Trade debtors Prepayments and accrued income |
2021 £ 7,345 5,159 12,504 |
2020 £ 5,545 2,067 |
|---|---|---|
| 7,612 |
11. Creditors: Amounts falling due within one year
| Other taxation and social security Accruals and deferred income |
2021 £ 438 9,496 9,934 |
2020 £ - 9,416 |
|---|---|---|
| 9,416 |
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THE LETHERHEAD INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
| 12. Statement of funds Statement of funds - current year Unrestricted funds Designated funds Designated Funds - all funds General funds General Funds - all funds Total Unrestricted funds Restricted funds Restricted Fund - all funds Total of funds |
Balance at 1 June 2020 £ 90,000 857,568 947,568 - 947,568 |
Income £ - 90,636 90,636 11,461 102,097 |
Expenditure £ - (83,866) (83,866) (11,461) (95,327) |
Balance at 31 May 2021 £ 90,000 |
|---|---|---|---|---|
| 864,338 | ||||
| 954,338 | ||||
| - | ||||
| 954,338 |
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THE LETHERHEAD INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
12. Statement of funds (continued)
| Statement of funds - prior year Balance at 1 June 2019 £ Income £ Unrestricted funds Designated funds Designated Funds - all funds 102,000 - General funds General Funds - all funds 858,248 92,186 Total Unrestricted funds 960,248 Restricted funds Restricted Funds - all funds - 5,000 960,248 Total of funds Analysis of net assets between funds 13. Analysis of net assets between funds - current year Tangible fixed assets Current assets Creditors due within one year Total 92,186 97,186 |
Expenditure £ - (104,866) (104,866) (5,000) (109,866) |
Transfers in/out £ (12,000) 12,000 - - - Unrestricted funds 2021 £ 851,448 112,824 (9,934) 954,338 |
Balance at 31 May 2020 £ 90,000 |
|---|---|---|---|
| 857,568 | |||
| 947,568 | |||
| - | |||
| 947,568 | |||
| Total funds 2021 £ 851,448 112,824 (9,934) |
|||
| 954,338 |
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THE LETHERHEAD INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
13. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2020 £ 851,573 105,411 (9,416) 947,568 |
Total funds 2020 £ 851,573 105,411 (9,416) |
|---|---|---|
| 947,568 |
14. Related party transactions
The Charity has not entered into any related party transactions during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 May 2021.
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