2021-08-31-accounts - Boat Building Academy Limited

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			Page
Report ofthe Trustees		1	to	6
Independent Examiner's	Report
Statemeat ofFinancial	Activities
Balance Sheet		9	to	10
Cash Flow Statement
Notes to the Cash Flow	Statement		12
Notes to the Finaacial Statements		13	to	22

The last course fee increases	The last course fee increases	were in )anuar	y and February 2
40-week boat building			f15,850
12-week Furniture			g5,850
12-week Advanced	Furniture	Making	g5,950
2-day short courses 5-day short courses			f275 f675 - f950

						2021	2020
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
			Notes			f.
INCOME AND ENDOWMENTS		FROM
Donations and legacies			3	107,062	70,456	177,518	126,171
Other trading activities			4	538,585		538,585	545,970
investment income			5	396		396	1,153
Tots I				646,043	70,456	716,499	673,294
EXPENDITURE ON
Raising funds			6	436,874		436,874	415,308
Charitable activities
Charitable activities				296,138	41,369	337,507	280,308
Total				733,012	41,369	774,381	695,616
NET INCOME/(EXPENDITURE)				(86,969)	29,087	(57,882)	(22,322)
Transfem between funds			21	39,037	(39,037)
Net movement in fuods				(47,932)	(9,950)	(57,882)	(22,322)
RECONCILIATION	OF FUNDS
Total funds brought	forward			82,485	10,000	92,485	114,807
TOTAL FUNDS CARRIED FORWARD				34,553	50	34,603	92,485

				2021	2020
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes		f,		f,
FIXEDASSETS
Tangible assets	14	51,508		51,508	4,230
CURRENT ASSETS
Stocks	15	33,477		33,477	36,821
Debtors	16	26,057		26,057	38,385
Cash at bank		412,408	50	412,458	278,807
		471,942	50	471,992	354,013
CREDITORS
Amounts falling due within one year	17	(281,169)		(281,169)	(265,758)
NET CURRENT ASSETS		190,773	50	190,823	88,255
TOTAL ASSETSLESSCURRENT
LIABILITIES		242,281	50	242,331	92,485
CREDITORS
Amounts falling due afier more than one year	18	(207,728)		(207,728)
NET ASSETS		34,553	50	34,603	92,485
FUNDS	21
Unrestricted funds				34 553	82,485
Restricted funds				50	10,000
TOTAL FUNDS				34,603	92,485

		Boat B	uilding Academy Limit	ed
			Cash Flow Statement
		for the	Year Ended 31August	2021
				2021	2020
		Notes		f,	f.
Cash flows from operating activities Cash generated from operations				(27,082)	(239,767)
Net cash used in operating activities				(27,082)	(239,767)
Cash flows from iavesting activities Purchase oftangible fixed assets Interest received				(56,608) 396	(1,838) 1,153
Net cash used in investing activities				(56,212)	(685)
Cash flows from financing	activities
New loans in year				220,000
Loan repayments in year				(3,055)
Net cash provided by financing activities				216,945
Change in cash and cash the reporting period	equivalents	in		133,651	(240,452)
Cash and cash equivaleats beginning oftbe reporting	at the period			278,807	519,259
Cash and cash equivalents	at the end	of
the reporting period				412,458	278,807

ACTIVITIES
					2021	2020f
Net expenditure	for the reporting			period (as per the Statement of
Financial Activities)					(57,882)	(22,322)
Adjustments for: Depreciation charges					9,330	3,739
Interest received					(396)	(1,153)
Decrease in stocks					3,344	4,984
Decrease/(increase)		in debtors			12,328	(18,910)
Increase/(decrease)		in creditors			6,194	(206,105)
Net cash used in	operations				(27,082)	(239,767)
ANALYSIS OF	CHANGES IN NET FUNDS
				At 1.9.20	Cash flow	At 31.8.21
Net cash
Cash at bank				278,807	133,651	412,458
				278,807	133,651	412,458
Debt
Debts falling due		within	I year		(36,667)	(36,667)
Debts falling due		afler	1 year		(180,278)	(180,278)
					(216,945)	(216,945)
Total				278,807	(83,294)	195,513

DONATIONS AND LE	GACIES
			2021	2020
Donations			35,316	16,192
Legacies Grants			15,000 127,202	8,000 101,979
			177,518	126,171
Grants received, included	in the above, are as follows:
			2021	2020
lob Retention Scheme			87,623	94,479
Shipwright —WCS Grant			5,000
Garfield Weston Foundation			5,000
Dorset Council			14,143	7,500
Dorset Growth Hub			5,000
The Foyle Foundation Coronavirus Business Interruption		Loan Scheme	10,000 436
			127,202	101,979

4.	OTHER TRA	DIN	G ACTIVITIES
						2021	2020
	Course income					369,787	374,788
	Materials					25,511	23,935
	Woodworking Wood	skills				94,288 22,104	87,908 23,076
	Accommodation					20,533	32,098
	Washing machine Miscellaneous		money			6,362	791 3,374
						538,585	545,970
5.	INVESTMENT		INCOME
						2021	2020
	Interest receivable		- trading			396	1,]53
	RAISING FUNDS
	Other trading	activities				2021	2020
	Opening stock Closing stock Staff costs					36,821 (33,477) 424,123	41,805 (36,821) 405,550
	Bad debts					77	1,035
	Depreciation					9,330	3,739
						436,874	415,308
7.	CHARITABLE		ACTIVITIES COSTS
					Grant
					funding of
					activities	Support
				Direct	(see note	costs (see
				Costs	8)	note 9)	Totals
	Charitable activities			280,902	18,000	38,605	337,507

8.	GRANTS	PAYABLE
						2021	2020
	Charitable	activities				18,000
	The total	grants paid to individuals	during the year was as follows:			2021	2020
	Bursary grants					18,000
9.	SUPPORT COSTS
					Information	Human
			Management	Finance	technology	resources	Totals
	Charitable	activities	32,957	1,459	3,753	436	38,605

Net income/(	:
	2021	2020
	6
Depreciation - owned assets Independent examination Accounts preparation fees	9,330 2,040 540	3,739 1,980 540

STAFFCOSTS
			2021	2020
Wages and salaries Social security costs Other pension costs			388,648 28,457 7,018	368,298 29,822 7,430
			424,123	405,550
The avenge monthly	number ofemployees	during the year was as follows:
			2021	2020
Head count			13	14

No employees received	emoluments	in excess off60,000.
COMPARATIVKS FORTHE STATEMENT OF FINANCIAL			ACTIVITIES
			Unrestricted	Restricted	Total
			funds	funds	funds
INCOME AND ENDOWMENTS		FROM
Donations and legacies			111,171	15,000	126,171
Other trading activities			545,970		545,970
Investment income			1,153		1,153
Total			658,294	15,000	673,294
EXPENDITURE ON
Raising funds			415,308		415,308
Charitable activities
Charitable activities			275,142	5,166	280,308
Total			690,450	5,166	695,616
NKT INCOME/(EXPENDITURE)			(32,156)	9,834	(22,322)
Transfem between funds			(166)	166
Net movement in funds			(32,322)	10,000	(22,322)
RECONCILIATION	OF FUNDS
Total funds brought	fonvard		114,807		114,807
TOTAL FUNDS CARRIED FORWARD			82,485	10,000	92,485

14.	TANGIBLE FIXEDASSETS
			Improvements		Fixtures
		Freehold	to	Plant and	and
		property	property	machinery	fittings	Totals
			8
	COST
	At 1 September 2020	10,912		74,249	408	85,569
	Additions		51,928	4,680		56,608
	Disposals	(10,912)		(63,806)		(74,718)
	At 31 August 2021		51,928	15,123	408	67,459
	DEPRECIATION
	At I September 2020	10,912		70,291	136	81,339
	Charge for year Eliminated on disposal	(10,912)	5, 193	4,001 (63,806)	136	9,330 (74,718)
	At 31 August 2021		5,193	10,486	272	15,951
	NET BOOK VALUE
	At 31 August 2021		46,735	4,637	136	51,508
	At 31 August 2020			3,958	272	4,230
15.	STOCKS
					2021	2020
	Stocks				33,477	36,821
16.	DEBTORS:AMOUNTS FALLING DUE		WITHIN ONE	YEAR
					2021	2020
	Service charges due Other debtors				13,914 5,079	12,736 18,307
	Prepayments				7,064	7,342
					26,057	38,385

			2021	2020
Bank loans and overdrafls		(see note 19)	36,667
Trade creditors			14,680	6,408
Social security and other		taxes	8,306	8,559
Other creditors			6,312	7,030
Service charges paid	in arrears		63,935	51,909
Accruals and deferred	income		151,269	191,852
			281,169	265,758

	Deferred income b/f			188,680
	New invoices raised			273,735
	Amounts released			(325,153)
	Defened income c/f			137,262
18.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONK YEAR
			2021	2020
				f,
	Bank loans (see note 19)		180,278
	Accruals and deferred	income	27,450
			207,728
19.	LOANS
	An analysis ofthe maturity ofloans is given below:
			2021	2020
	Amounts falling due within one year on demand:
	Bank loans		36,667
	Amounts falling due between two and 5 years:
	Bank loans -2-5 years		146,667
	Amounts falling due in	more than five years:
	Repayable by instalhnents: Bank loans due in more than 5 yr by installments		33,611
			180,278

	2021	2020
Within one year	66,000	66,000
Between one and five years	230,750	200,500
In more than five years	59,500
	356,250	266,500

MOVEM	ENT	IN FUNDS
				Net	Transfers
				movement	between	At
			At 1.9.20	in funds	funds	31.8.21
Unrestricted		funds
General	fund		62,485	(90,829)	39,037	10,693
Bursary	(Designated)		20,000	3,860		23,860
			82,485	(86,969)	39,037	34,553
Restricted funds
Bursary			10,000	(17,950)	8,000	50
Covid-19 Building Works				47,037	(47,037)
			10,000	29,087	(39,037)	50
TOTAL	FUNDS		92,485	(57,882)		34,603
Net movement		in funds, included	in the above are as follows:
				Incoming	Resources	Movement
				resources	expended	in funds
Unrestricted		funds
General	fund			642,183	(733,012)	(90,829)
Bursary	(Designated)			3,860		3,860
				646,043	(733,012)	(86,969)
Restricted funds
Bursary				50	(18,000)	(17,950)
Covid-19 Building Works				70,406	(23,369)	47,037
				70,456	(41,369)	29,087
TOTAL FUNDS				716,499	(774,381)	(57,882)

Compara	t	ive		s for moveme	nt in funds
							Net	Transfers
							movement	between	At
						At 1.9.19	in funds	funds	31.8.20
								g
Unrestricted				funds
General	fund					114,807	(32,156)	(20,166)	62,485
Bursary	(Designated)							20,000	20,000
						114,807	(32,156)	(166)	82,485
Restricted			funds
Computer							(166)	166
Bursary							10,000		10,000
							9,834	166	10,000
TOTAL		FUNDS				114,807	(22,322)		92,485
Comparative				net movement	in funds, included	in the above are as follows:
							Incoming	Resources	Movement
							resources	expended	in funds
Unrestricted				funds
General		fund					658,294	(690,450)	(32,156)
Restricted				funds
Computer							5,000	(5,166)	(166)
Bursary							10,000		10,000
							15,000	(5,166)	9,834
TOTAL		FUNDS					673,294	(695,616)	(22,322)

				Net	Transfers
				movement	between	At
			At 1.9.19	in funds	funds	31.8.21
			f,
Unrestricted		funds
General	fund		114,807	(122,985)	18,871	10,693
Bursary	(Designated)			3,860	20,000	23,860
			114,807	(119,125)	38,871	34,553
Restricted		funds
Computer				(166)	166
But sary				(7,950)	8,000	50
Covid-19 Building Works				47,037	(47,037)
				38,921	(38,871)	50
TOTALFUNDS			114,807	(80,204)		34,603

			Incoming	Resources	Movement
			resources	expended	in funds
Unrestricted		funds
General	fund		1,300,477	(1,423,462)	(122,985)
Bursary	(Designated)		3,860		3,860
			1,304,337	(1,423,462)	(119,125)
Restricted funds
Computer			5,000	(5,166)	(166)
Bursary			10,050	(18,000)	(7,950)
Covid-19 Building Works			70,406	(23,369)	47,037
			85,456	(46,535)	38,921
TOTAL	FUNDS		1,389,793	(1,469,997)	(80,204)