2022-08-31-accounts - Boat Building Academy Limited

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			Page
Report ofthe Trustees			I to 8
Independent Examiner's		Report
Statement ofFinancial	Activities		10
Balance Sheet
Cash Flow Statement			12
Notes to the Cash Flosv		Statement	13
Notes to the Financial	Staten&eats		14to 26

he last course fee increases were	he last course fee increases were	in the Autumn of2022.They stand ah	in the Autumn of2022.They stand ah	in the Autumn of2022.They stand ah
40-week boat building		f)7350(Febrnaty 2023) and fl7950 (August 2023)
12-week Furniture		f6,500(January	2023) and f6,950 (May aad September 2023)
12-week Advanced	Furniture	This is currently	being assessed and ivill be repaired	on the ivebsl te once
Making 2-day short courses		aJina) decision f295	has been tttade
3-day short courses		f450
5-day short courses		f595 - f975

fo	r the year en	ded 31August 2022
				2022	2021
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes		f.
INCOME AND ENDOWMENTS FROM
Donations, legacies aad grants		5,497	54,652	60,149	177,518
Other trading activities		739,619		739,619	538,585
investment income		29		29	396
Total		745,145	54,652	799,797	716,499
EXPENDITURE ON
Raising funds		346,009	712	346,721	436,874
Charitable activities
Charitable activities		437,796	28,572	466,368	337,507
Total		783,805	29,284	813,089	774,381
NET (EXPENDITURE)/ INCOME		(38,660)	25,368	(13,292)	(57,882)
Net movement in funds		(38,660)	25,368	(13,292)	(57,882)
RECONCILIATION OF FUNDS
Total funds brought forward		34,553	50	34,603	92,485
TOTAL FUNDS CARRIED FORWARD		(4,107)	25,418	21,311	34,603

					Bo	at Building Academy Lim	at Building Academy Lim	at Building Academy Lim	ited
						Cash Flow Statement
					for	the year ended 31August			2022
										2022	2021
									Note		f
Cash flows from	operating		activities
Net cash generated	by/ (used		in) operating		activities				I	179,055	(27,082)
Cash flows from	investing		activities
Purchase oftangible fixed assets										(22,811)	(56,608)
Interest received										29	396
Nct cash used in investing		activities								(22,782)	(56,212)
Cash flows from	financing		activities
New loans in year											220,000
Loan repayments	in year									(36,667)	(3,055)
Net cash (used in)/ provided			by tinancing		activities					(36,667)	216,945
Change in cash and cash		equivalents		in	the	reporting	period			119,606	133,651
Cash and cash equivalents			at the beginning			ofthe reporting		period		412,458	278,807
Cash and cash equivalents			at the end	of	the	reporting	period			532,064	412,458

			2022	2021
			f,	f,
Net expenditure for the	reporting	period (as per the Statement of
Financial Activities)			(13,292)	(57,882)
Adjustments for:
Depreciation charges			11,101	9,330
Interest received			(29)	(396)
(Increase)/decrease	in stocks		(9,172)	3,344
(increase)/Decrease	in debtors		(12,758)	12,328
lncmase in creditors			203,205	6,194
Net cash used in operations			179,055	(27,082)

ANALYSIS OF CHAN	GES IN NET FUNDS
		At		At
		ISeptember		31August
		2021	Cash flow	2022
		f.		f.
Net cash
Cash at Bank		412,458	119,606	532,064
		412,458	119,606	532,064
Debt
Debts falling due within Debts falling due after	1 year 1 year	(36,667) ~(1BO. 76	36667	(36,667) ~(1436»
Total debt		(216,945)	36,667	(180,278)
Total net cash		195,513	156,273	351,786

	DONATIONS) LEGACI	ES
			2022	2021
	Donations		14,027	35,316
	Legacies Grants		46,122	15,000 127,202
			60,149	177,518
	Grants received, included	in the above, are as follows:	2022	2021
	Job Reteniion Scheme			87,623
	Shipwright -WCS Grant Garfield Weston Foundation			5,000 5,000
	Dorset Council		40,000	14,143
	Dorset Growth Hub			5,000
	The Foyle Foundation Government CBILSloan interest gmnt Coronavirus HMRC Furlough Grant		5,410 712	10,000 436
			46,122	127,202
4.	OTHER TRADING ACTIVITIES		2022	2021
			f.
	Coutae income		495,361	369,787
	Mateiials		36,670	25,511
	Woodworking skills Wood		118,108 45,770	94,288 22,104
	Accommodation		37,622	20,533
	Washing machine money Miscellaneous		943 5,145	6,362
			739,619	538,585
5.	INVESTMENT INCOME		2022	2021
			f.	f.
	Interest receivable —trading		29	396

Othertrading activities
	2022	2021
Opening stock Closing stock Staff costs	33,477 (42,649) 343,898	36,821 (33,477) 424,123
Bad debts Depreciation	894 11,101	77 9,330
	346,721	436,874

			2022	2021
Depreciation	- owned	assets	11,101	9,330
Independent	examination		2,280	2,040
Accounts preparation		fees		540

STAI'F COSTS
					2022	2021
Wages and salaries					310,463	388,648
Social security					26,666	28,457
Other pension costs					6,769	7,018
					343,898	424,123
The average monthly	number ofemployees		during	the year was as follows:
					2022	2021
					No.	No.
Head count					13	13
No employees received	emoluments	in excess of860,000(2021 —Nil).

COMPARATIVES FOR THE STATEMENT OF FI	COMPARATIVES FOR THE STATEMENT OF FI	NANCIAL ACTIVITIES
INCOME AND ENDOWMENTS I'ROM		Unrestricted	Restricted	Total
		funds	funds	funds
		f,
Donations and legacies		107,062	70,456	177,518
Other trading activities		538,585		538,585
Investment income		396		396
Total		646,043	70,456	716,499
EXPENDITURE ON
Raising funds		436,874		436,874
Charitable activities
Charitable activities		296,138	41,369	337,507
Total		733,012	41,369	774,381
NET INCOME/ (EXPENDITURE)		(86,969)	29,087	(57,882)
Transfers between funds		39,037	(39,037)
Net movement in funds		(47,932)	(9,950)	(57,882)
RECONCILIATION	OF FUNDS
Total funds brought	forward	82,485	10,000	92,485
TOTAL FUNDS CARRIED FORWARD		34,553	50	34,603

		Improvements	Plant	Fixtures
		to	and	and
	COST	properly	ntachinery	tittings	Totals
	At 1 September 2021 Additions	51,928 15,208	15,123 7,603	408	67,459 22,811
	At 31 August 2022	67,136	22,726	408	90,270
	DEPRECIATION
	At 1 September 2021 Charge for year	5,193 6,713	10,486 4,252	272 136	15,951 11,101
	At 31 August 2022	11,906	14,738	408	27,052
	NET BOOK VALUE At 31 August 2022	55,230	7,988		63,218
	At 31 August 2021	46,735	4,637	136	51,508
15.	STOCKS
				2022	2021
	Stocks			42,649	33,477
16.	DEBTORS:AMOUNTS FALLING	DUE WITHIN ONE	YEAR
				2022	2021
	Service charges due Other debtors Prepayments			26,080 12,735	13,914 5,079 7,064
				38,815	26,057

CREDITORS:	AMOUNTS FALLING DUE WITHIN ONE YE	AR
		2022	2021
Bank loans and Trade creditors	overdrafts (see note 19)	36,667 21,683	36,667 14,680
Social security Other creditors	and other taxes	6,689 7,722	8,306 6,312
Service charges paid in arrears Accruals and deferred income		34,835 387,480	63,935 151,269
		495,076	281,169

Deferred income brought New invoices raised	Deferred income brought New invoices raised	forward	137,262 707,236
Amounts	released		(462,721)
Deferred	income carried	forward
			381,777

		2022	2021
		f,	8
Bank loans (see note Accruals and deferred	19) income	143,611 16,748	180,278 27,450
		160,359	207,728

An analysis	ofthe maturity ofloans is given below:	2022	2021
Amounts falling due within one year on demand:
Bank loans		36,667	36,667
Amounts falling due between two and 5 years:
Bank loans	—2-5 years	143,611	146,667
Amounts falling due in more than five years;
Repayable	by instalments:
Bank loans	due in more than 5 years by instalments		33,611
		143,611	180,278

20. LEASING AGRE	EMENTS
Minimum lease payments	under non-cancellable	operating	leases fall due as follows:
				2022	2021
Within one year				66,000	66,000
Between one and five	years			224,250	230,750
ln moiv, than five years					59,500
				290,250	356,250

		At	Net	Transfer	At
		1September	movements	between	31August
		2021	in funds	funds	2022
			f.	8
General	fund	10,693	(23,996)		(13,303)
Bursary	(Designated)	23,860	(14,664)		9,196
		34,553	(38,660)		(4,107)
Restricted funds
Bursary		50	25,368		25,418
TOTAL	FUNDS	34,603	(13,292)		21,311

		Incoming	Resources	Movement
		resources	expended	in funds
			f,	f.
General	fund	745,058	(769,054)	(23,996)
Bursary	(Designated)	87	(14,751)	(14,664)
		745,145	(783,805)	(38,660)
Restricted funds
Bursary		54,652	(29,284)	25,368
TOTALFUNDS		799,797	(813,089)	(13,292)

Unrestrict	ed funds
		At 1	Net	Transfers	At 31
		September	movements	between	August
		2020 f	in fundsf	funds f,	2021 f
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 —19Building Works			47,037	(47,037)
		10,000	29,087	(39,037)	50
TOTAL	17'UNDS	9, 8.	~87.878		34,603

	Incoming	Resources	Movement
	resources	expended	in fundsf
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 —Building Works	70,406	(23,369)	47,037
TOTAL FUNDS	716,499	(774,381	57,882

			At 1	Net	Transfers	At
			September	movement	between	31August
			2020	in funds	funds	2022
						f,
Unrestricted		funds
General	fund		62,485	(114,825)	39,037	(13,303)
Bursary	(Designated)		20,000	(10,804)		9,196
			82,485	(125,629)	39,037	(4,107)
Restricted funds
Bursary			10,000	7,418	8,000	25,418
Covid-19 Building Works				47,037	(47,037)
			10,000	54 455	(39,037)	25,418
TOTALFUNDS			92,485	(71,174)		21,311

Unrestricted	Unrestricted
		Incoming	Resources	Movement
		Resources	expended	in funds
				f.
General	fund	1,387,241	(1,502,066)	(114,825)
Bursary	(Designated)	3,947	(14,751)	(10,804)
		1,391,188	(1,516,817)	(125,629)
Restricted funds
Bursary		52,573	(47,284)	7,418
Covid-19 Building Works		70,406	(23,369)	47,037
		122,979	(70,653)	54,455
TOTAL	FUNDS	1,516,296	(1,587,470)	(71,174)