Règlstsrod number: 11813984 Ch•rfty number: 1188035 FORWARD2EMPLOYMENT (A Company Llmit•d by Guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
FORTWIARD2EMPLOYMENT IA Company LIMIt by Guarantee CONTEPITS Refer6nc• and Admlnlstratlve Dots11s of tho Company, its Trnstees and Advls•rs Trust. Report Ind•pend8nt Examln•rfs R•port Statement of Finan¢i•l A¢tivltleB Balance Sheet Nolg¥ to the Flnanclal Stat•ments 9-17
FORWARD2EMPLOYMENT {A COmnY Limitsd by Guarants•) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2021 Trustees A Gillett E A Halton R J Halton Company reglstered number 11813984 Charlty roglstsrgd numbgr 1188035 R8gistorod offic• CIO Fortis Trust Churchill Avenue Chalhsm Kent ME5 OLB Indondent examinern MHA Maclntyre Hudson Chartered Accountants Victoria Court 17-21 Ashford Road Maidslone Kent ME14 5DA Page 1
FORWARD2EMPLOYMENT (A Company Llmlt•d by Guarantso) TRUSTEES. REpoKr FOR THE YEAR ENDED 31 JULY 2021 The Trustees present their annual report together wllh the finantial stalement8 of the Company for the 1 Augu612020 to 31 July 2021. The Annual Report serves the purposes of both a Trustees, report and a di0[5, report under company law. The Trustees confinn th81 the Annual Report and financral statements of the charitable Company with the curronl statutory requirements, the rw4uiremenls of the charitable company's governing document and tho prowsions of the Statement of Recommended Practice ISORPI applicable lo charities preparing their accounts in accordance with the FinafteI Rèporting Standard applble in the UK and Republic of Ireland {FRS102} {effective 1 January 20151 as amended by Updats Bu11n$ 1 and Since the C¢)mpany qualif$ a$ small under section 382 of the Companies Act 20C6, the Strategic Report required ol medium and larg8 compani88 under the Companies Ad 2006 (Strategic Rep and Directors, Report) Regulations 2013 h8s been omitted. Oblgctlves and actlvitles a. Pollcles ond o14ectivg5 In setting objectives and planniro for acliwties, the Trustees have given due consideralion to genernl guhlance published by the Charity Commission relating lo public benefft. including the guidance 'Public narrt'. running a harity {P821'. Th& charity is established for the advancement of the education of persons under the 8ge of 26 years with Special EducAtKJnal Needs, by providing arKI assisting in the provision of facilrties and services to meet their educational, devekjpmentsl and swial wemare needs in order that they can achieve their full potential and the nSSry skills to access employment. b. Slratogigs for achieving objectlves .Whol8 team approach to roi5ing aspirations by en¢our8ging interns to klieve in Ihemsefves and their achievements. .Teaching them life skills 9$ a group i.e. travel training, heatthy living, budgeting skills and also adapting tha curriculum to meet the needs of the individual. A$$ to careers adwce and guidance. .T8king adv8ntage of funding and grants to 8UPPOrt in the above actMIs. c. Actlvltlos undertaken lo achleve obloctfves .Trips as a group using buses, indrvidual royle training with decreasing support. .Support wth making DoCtorental appointments. .Support to allow interns to find a suitable chanty to 8UPPOrt and then support lo allow fundraising for that charity. .Access lo 110 1 careers advice ro next steps, a$sisling wlth interviows, job applications. job seeking skills. .BLbdgeling activities around shopping for food •Advic8 and guidance sround benefrts availab to inlems d. Maln actlvltl8s undèrtaken to fvrther tho Company's purpo868 for tho publlc benefSt Attending nthorking events, Sharing of inforniatvjn to bu$in9s5 partners Linkedin or via email. Sharing infomwtion wf(h schools through car88rs nthork. Page 2
FORWAAD2EMPLOYMENT IA Company Umltod by Guarnnteel TRUSTEES. REPORT ICOTrrnNUEDI FOR THE YEAR ENDED 31 JULY 2021 A¢hlev•m•nts •nd performanc• a. Maln achlevomonts of the Company The charitabl& company was incorporated on 12 September 2019. ar corrthenced its Charitab activities on the 12 February 2020.100% of inlems that start the inlemship go on to complete r( Ino drop OLrts}.Succe$sful in 888istr.ng inlems Into etther empbwnenl, further edu&8tlon or volunteering even durfng Cthrid -19 restricted times. Flnanclal rnvlew a. Golng concem After making appropriate enqulries, the Trustee8 have a reasonable expectation that the Company has equate resources lo continue in operational tstenCe for the foreseeable future. For this reason, they Continue to adopt the going concem basls in preparing the financial sLemenls. Further details regarding the adoplv)n of the gcwng concem ba818 can be found in th8 8Gcounling poliries. b. ReseNes pollcy The Charity held fund balances at 31 Juty 2021 of £29.90912020: £23.212} eonsi8ting of Un1¢ted funds of £NIL12020= £NILI and restricted fvnd$ of £29.90912020.. £23,212). At 31 July 2021 the total fvnds comprised.. R88tri¢aed funds £29.909 £29.909 Structur•, govornaneo and m•nagorngnt a. Constitullon Fcfflrd2Employment is fegistered a8 8 charitable company limited by guarantee, and was 8et up under Its Memorandum and Artkles dated 12 September 2019 as amended by Spedal resolution on 17 February 2020. b. M•thod$ of appolntm•nt or •l•¢tion of Trustees The management of the Company is the re8ponslbllty of the Tru8tee8 are elected and G¢)4>pted under the tenns of the Trust d8ed. ¢. Fin•n¢ial risk m•nagment Thg Trust have asses$ed the malor rf8k$ to which the Company is exposed, in particular those related to the operations and finances of the Company, and ar• satisfied Ihat systems and prccedures are in plao to rniligate exposure to the major risks. Page 3
FORWARD2EMPLOYMENT IA Company Limited by Guarante81 TRUSTEES. REPORT IcoKfiNUED} FOR THE YEAR ENDED 31 JULY 2021 Ststthiont of Trustees. responglbllltles The Trustees (who are also the directors of ihe Comparsy lor the purposes of c¢Jnpany law) are wponsible for preparing the Trustees, Report and the financial slalements In accordanc& wf(h applicab law and United lQngdom AGGounting StsrKlards (United lfjngdom Generalty Ac¢epled A¢unting Practice). Company law requires the Trustees to prepare finsnelal statements for each finawal . Under conwany law, the Trustees must not approve the financi81 statements unkss they are satisfied th they give a tn and foir view of the Stste of affairs of the Company and of its incoming resources and appli¢8lion of resources, including tts incomè and éxpenditure. for that perlod. In preparing these financial ststemenls, the Trustees are required to.. seknt SLFitable accountiNJ policies arKJ then apply them consistently., observe the mlhods and principles of the Charities SORP IFRS 1021 make judgements and accounting estimales thal are reasonable and prudent,. 8tste whethar applicable UK Accounting Standard8 IFRS 1021 been fo1d, SUeCt to any material departures disclosed and explained in the financial statements.. prepare the finsnual stslemenls on the going concern basis unless il is inappropriate to Presum that the Company will ntinUe in business. The Trustees are responsble for keeping adequate accounting records that are Surrleftt to sh¢y•V and explain the Companls transacticffls and disclose wilh reasonable accuracy at any time the financial position of Ihg Cornpany and enable them to ensure that the financial statements comply with the Companies Act 21x6. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and dgtoction of fraud and other irregularthés. Approved by ordef of th& memb9rs ol thg board of Trust89s and stgnad on Ihoir behalf by.. E A Halton Trustee Date.. 21 January 2022 Page 4
FORWARD2EMPLOYMENT IA Company Limitod by Guarants•} INDEPENDENT EXAMINER'S RepoRT FOR THE YEAR ENDED 31 JULY 2021 Ind•p•ndent Examlnerfs R•port to th• Tru•t••s of Forw•ry12Employm•nt (Yh• Company'l I report to the charity Tw8tee8 on my examination of the account8 of the Company for the year end&J 31 Juty 2021. R•sporffjibilitI and Basis of Report As the Trustee8 of the Company land ils directors for the Purpo¥ of company law) you are re8ponsible for the preparatiLYt of the accounts in accordance wth the requirements of the Companies Act 2006 Ilhe 20rA Act). Having Satisf my3olf that the accounts of the Company are not required to be audited under Part 16 of the 200S AGI and are eligible for independent examinatKn, I report in respect of my examinalton of the Compnls accounts carried out under section 145 of the ChaTities Act 2011 (Ihe 2011 Act'l. In carying out my examination I have follthved the Directions given bythe Charity C¢Jnmission under 8e¢tion 145(5Mb) of the 2011 Act. Indepond•nt Examin•rfs Stat•m•nl I have eompleted my examination. I confimi that no matters have cowo to my attenticfi in connection with the examination giving me Cause to believe.. ating re¢oTd$ were not kept in respect of tho Company as required by section 386 of the 2006 Act.. or the account5 do not xcord with those reGords: or the xcounts do not ¢ompty wrth the accounting requirem8nts of Bection 396 of th9 2CKb Ad othar than any requirement that the accounts gNe a XTue and fair, wew whKh is not a matter considered as part of an independent examinatlon.. or the anIS have not been prepared in accordance vmth the methods and principles of the Statement of Recommended practi for accounting and reporting by Chartt lapplicabie to charities preparing their accounts in accordance th the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)]. I h8ve no concems and have com& 8cro88 no olhgr Mattfj in cOnnbOn with the examination to which attention should be drawn in this report in order lo enable a proper undwst8n(luig of the account8 to be reachtrj. Signed.. Duncan Co¢hranDYet Bsc BFP FCA MHA Maclntyr• Hudson MaKlslone United Kingdcffl Dated.. 21 January 2022 Page 5
FORWARD2EMPLOYMENT IA Company Llmitgd by Guarnntsel STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 JULY 2021 As rnstated Tot81 funds 2020 Restrlcted funds 2021 Total funds 2021 Note Income from: Charitable activtties Other trading adThiities 159,232 169.232 299 153.906 Total Incom• Exp•ndltur• on: charttab activit'ies 159,531 159,531 153,906 151834 152,834 130.694 Total •xpendira 152,834 152,834 130,694 6.697 6.697 23,212 Nel movement In funds R•conciliation of funds: Total funds brought forward Nel wrf)vemgnt in funds 23,212 6,697 23212 6,697 23.212 29.909 29.909 23.212 Totsl fund8 carrfed forward The notes on p4e8 910 17 forn part of th8se financial statement5. Pag8 6
FORWARD2EMPLOYMENT (A Company Llmhed by Guarantsel REGISTERED NUMBER: 11813984 BALANCE SHEE[ AS AT 31 JULY 2021 As reslat8d 2020 2021 Fixod asSOtB Tangibkn assets 1.922 Z242 1,922 2,242 CUont ats Debtor8 Cash at bank and in hand 1N16 124,378 30.754 124,378 Cr8ditm'. amounts falling due within one yegr 10 {2.767 (103,408) Ngt currgnt assots 27.987 20,970 T¢)tal not assets 29,909 23.212 Charity funds Restricted lund8 12 29,909 23.212 Unrestricted fvnd8 12 Total funds 29,909 23,212 Page 7
FORWARD2EMPLOYMENT IA Company Limited by Guarantèè REGISTERED NUMBER: 11813984 BALANCE SHEET ICONTINUEDI AS AT 31 JULY 2021 The Company was entitled to exemption from audit under section 477 of the CornPan$ Act 21)06. The members have not required the company lo obtain an audit for the year in question in accordance wrth sadion 476 of Compani8s Act 2006. The Trustees ackntrwledye their responsibilities for complytng wth the requirements of the Act with respect lo accounting records and preparatlon of finanelal statements. The finan81 8tatements have been prepared in accordance wf(h the provisw)ns applicoble to entrtigs subject to the small companios regime. Th8 financial 5tatement5 were wproved and authorised for issue by the Trustees and signed on their behalf by.. E A Hakon (Trusleel Dote.. 21 January 2022 The notes on pages 9 to 17 form part of these finan¢ial statements. Page 8
FORWARD2EMPLOYMEprr A Company Umltod by Guarants•) NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 JULY 2021 Accountlng pollcl•s 1.1 L•gal entlty of charlty Foard2Empl¢jnenI 18 a charitable company limited by guarantee. wilh no Share capital, and is registgrgd in England and wa$. The registered numbers, and address, can be found within the ministralive details pag? of these accounts. The liability of members is limited. Each member has undertaken to contribute a sum not 8xwding £10 1¢)wards the liabilities of the company in the event of rt being wound up while they are a member or during a peritsj of 12 months after they cease lo be a member. 1.2 8asls of preparatlon of flnanclal slatoments The finanrAal statements have been Prepa in aeeordance with the Ch8rltie8 SORP (FRS 1021- Accounting and Reporting by Charitie8.' Statement of Recommended Practice applicabk to charities preparing their a¢counts in a¢coTdance with the Finandal Reporting Standard applicable in thg UK and Republic of Ireland IFRS 102} {effective 1 January 20191, the Financi81 Reporting Standard appluble in the UK arKI Ropublic of Ireland {FRS 1021 and the CrAnpanies Act 2006. F0rward2EMpenI mee18 thè defIn'on of a public benefft entity under FRS 102. A$8ets and liabilities are inrfially recogni$ed at historical cost or transaction value unkss otherwise stated in th9 relevant xcounling policy. Thè financial statements are prfjsentèd in sterling which is the functional currency and is rounded to the nearest £1. 1.3 Golng concern The financial statements are prgpar8d on 8 going concem bayis 8nd there are no material uncert8intie8 that cast signffjcanl doubt on the Chantys abilty lo continue as a going concem. The Trustees have considered the impact of Covid-19 as part of their going concem assessment. 1A Incomo All income is recognised On the Company has enlitlemenl to the Income, r( k8 probable that the income wlll be received and the amount of income receivable can be measured reliabty. Grants are induded in the Statement of Financial Adivitigs on a receivable basi$. The balance of inccme T8d for specific pu0$e5 but not expendgd during the per is shown in th& relevant funds on th& Balance Sheet. Where inccme is receivad in advance of entitlement of receipt, it8 ognition is deferred and induded in creditors as deferred ineome. Where entitment occurs fore income is recewed, the income 18 accrued. Other inwme is rocogni5ed in the period in which it is rec8iv&)le and to the oxtent the goods have been provided or on rcthplelion of the 8ervKe. Page 9
FORWARD2EMPLOYMENT IA Company Umltad by Guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 A¢counting pollcl•s {contlnu•d 1.$ Exp•nditur• Expenditure is recognised once there is a legal or conslructwe obligation to transfer economic beneff( to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be mea8ufftd rellab. Expendi(ure is classified by actNity. The costs of eath activty are made up of the totsl of dir1 costs and Shared Costs, including support ¢o$t$ involved in undgrtaking each xtivity. Direct costs attributable to a single actNity are alcrtated diredy to that activity. Shared costs which contribute lo more than one activity and 5UPPOrt costs which are not attribLrtable to a single activity are apportioned belween those actmties on a basis consislanl with the usa of resources. Central staff $1$ are allocated on the basks of time spent, and deprecth'on charge5 allocated on the portion of the as5et'S Use. Expenditure on charrt)le actiwlies 18 incurred on directty undertaking the tIvitieS which further the Companls obiectivey, 88 well as any as80C48ted support Costs. All expenditure is inclusive of irrecoverable VAT. 1.6 Governmènt grants Govemm8nl grants relating to tangib fixed assets are treated as deferred InMe and released to the Statement of Financial AdNf(ies over the expected useful INes of the assets concerned. Olhgr grants are credrted lo the Statement of Financial Activities as the related expendrture is irKurred. 1.7 Tanglbl• fixed wots and dopr•ciation Tangible fixed assets are initkqlly rOgnIsed at cost. After recognition. under the cost modd, tsngible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangib fixed asset into its intended working ndibon Should bg Ied in the M&UreMent of cost. At each reportin9 date the Company assesses whether there is any indication of impairment. If such Indlcatlon exlsts, the recoverable amount of the asset Is delemined lo be the higher of ils fair value less costs lo sell and its value in use. An impairment bss is recognised where the ¢awng amount oxcegds the recoverable amounL DepcIall0n is charged so as lo alb)cate the cost of lanyible fued assels less thoir residual value over their estimated Ltseful live8. Depreciation is provided on the following ba$i$'. Offte equipment 25% slraighl line The asset$. reswjual values, useful Ilves and depreclatlon methods are remewed, and adlusled prospectivety rf appropriate. or rfthere is an indiGion of a $ignifiGant change since the last worting date. Gains and losses on disposals aTe determined by comparing the PfDceeds with the rryIng amount and ar8 rgcognised in tha Staloment of Financial Activ0$. Page 10
FORWARD2EMPLOYMEKr IA Company Limit•d by Guarnnto&) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Accountlng pollcl8s lcontlnuodl 1.8 0•btorn Trnde and other debtors ere recognised al th8 Settlement amount after any trada discount off8red. plaYMan1& are valuad at amount prepaid nel of any tradg discounts due. 1.9 Cmh at bank and in hand Ca$h at bank and in hand includes cash and short-term hi9hty l]uid invastments with a short maturty of threa month8 or le89 from the date of aCquisitn or opening of the deposit or similar account. 1.10 Uabllltle8 and provlslons Liabilrtigs are r9cognised when there is an obligation al the Balance Sheet date as a resull of a past ovenl. rt is probablg that a tran$fer of economic benefit will be required in settlement. and the amount of the settlemgnt can ba estimated reliably. Lkqbilities are recogniged at the amount that the Company antpales it wll pay to settle the debl or tho aThKunt it has received as advanced payments for the go¢xl$ or services f( must provide. 1.11 Flnan¢ial instrum•nts The Company onty has finanaal assets and financial Ikgbilrtigs of a kind that qualify as basic ffinanaal irtslrumenls. Ba5iG financial instruments are initk?Ily recognised at transaction value and subsoqugnlty measured at thelr settlement value with the exception of bank 108ns whh are subsequonlty m8asurad al 8morti$ed cost using the effeclive interest method. 1.12 Operatlng1oa888 Rentsls paid under operating leases are cherged to the Statement of Financial Activitie8 on straight lin8 basis over the lease term. 1.13 Fund accountlng Restricted funds are funds which are lo te used in accordae with specific reslrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering $LKh funds charg8d against the 8pecifK fund. The aim and use of each restricted fund is set out in the notes to the financial statements. CrltlrAI aluntIng estlmates and ar•a8 of ludgwnent No key judg&ments lapart from those involving estimates as disclosed in the notes th) have been m*le in the process of applying th8 abov8 accounting pley. Page11
FORWARD2EMPLOYMENT IA Comp•ny Limit by Guarnntee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Income from charltsble aGtlvltles Restrlct•d funds 2021 Total funds 2021 Total funds 2020 ESFA grants Other DfE revenue income 117,424 41,808 117.424 418 114,202 39, 704 Totsl 2021 159,232 159,232 153,906 Income In)m other tradlng actlvltles Income from fundralslng events R•sirf¢t•d lundg 2021 Total funds 2021 Total funds 2020 Fundraising Analysls of oxpendllur• on charftable actlvltlos Summary by fund type As ftvslaled Tot81 fvnds 2020 Restrlcted funds 2021 Total funds 2021 Educational support ¥ervrRs 152,834 152.834 130,694 Page 12
FORWARD2EMPLOYMENT {A Company Llmlted by Guarnnteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Analy$i$ of •xpenditurg by activiti•• Activitios und8rtak•n diroctty 2021 As r8s18ted Totsl funds Support co•ts 2021 Total funds 2021 Edwational support 9orvic8s 1,688 151,146 1S2,834 130.694 Analysis of dir•ct costs Educatlonal support Total funds 2021 funds 2020 2021 staff development Student development Supplies and rnaterials 1,045 427 216 1,046 427 216 3,114 2,823 Total 2021 1,688 1.688 &937 Paye 13
FORWARD2EMPLOYMENT IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Analysls of gxpendlturn by adivitl88 Icontlnuèd Anatysls of support costs Educational support sèrvlces 2021 As Avstated Totsl funds 2021 funds 2020 Subsislencg Printing, postage and stationery Telephone AdvertiSinprOMotional General administrativ& gypgn$es Rent Accountancy Dopreciation Motor exponses Travel Subscription5 Legal and profg$$ional f88s Bank charges staff wages Charitable ¢¢Jntributions HMRC filing penalty Management charges 986 211 428 160 10,563 8,681 121 861 730 947 13,712 3,301 320 121 881 730 13.712 3,301 320 320 137 137 35 22 80.038 440 375 48,009 35 22 80,038 440 lOt.908 375 48.009 Total 2021 151.146 151,146 124, 757 Trustees. remuneratlon and frxpgnses During the year, no Trustees received any remuneration or other benefrts (2020- £NIL). During the ar ended 31 July 2021. no Tntste& gXF4ns8s hava be8n incurred (2020- £NIL). Pagft 14
FORWARD2EMPLOYMENT (A Company Limitsd by Guaranleel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Tangibl• fixed assets offl¢9 equlpment Cost or valuatlon At 1 August 2020 1562 At 31 Juty2021 2,662 Dopr•clatlon At 1 August 2020 Charge for the year 320 320 Al 31 Juty 2021 640 Not book value At 31 July 2021 1,922 Al 31 Juty2020 2,242 Dobtors 2021 20 Due wlthln on• year Prepayments and accrued incom8 1A15 IN15 Page 15
FORWAR02EMPLOYMENT {A Company Llmlted by Ouarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 10. Crodltovs: Amounts lalllng duo wlthln on• ygar As rgslated 2020 2021 Other creditors Ac¢rual$ and deferr9d incom8 tOl.908 1,5LXI 2.767 2.767 103,408 11. Prioryg•r adjustm•nts A prior year adjusthent of £101,908 was made in Ihe year ID increase other creditors and increase expendtture of £101.908 in relation lo wages for the previous financial year. As a result, the profil for the y8ar ending 31 July 2020 has decreased by £101,908 10 £23,212, and the net assets of the Charity and the re$lrided funds carried forward al this dale have now decreased to £23,212. 12. Statsment of funds Ststsment of funds - ¢urron¢ year Balance at 1 August 2020 Balance at Income Expendfture 31 Jufy 2021 Restrlcted funds DIE IESFA revonue grants 23212 159,531 1151834 29,909 Statemant of funds- prior yoar AS rest8ted 5dan 81 Income ExpIdItre 31 July 2020 Restricted funds DE ESFA revenue grant5 153,906 (130.694) 23,212 Page 16
FORWAR02EMPLOYMENT IA Company Llmltsd by Gu•ranl•el NOTES TO THE FINANCIAL STATEPIENTS FOR THE YEAR ENDED 31 JULY 2021 13. Analys15 of net a88•ts between fund8 Analysis of n•t ass•ts b•twn fund$- current y•ar Reslrid•d fund$ 2021 Totsl fund$ 2021 Tangib fixed assets Current a$5ets Creditors dug Within one ygar 1,922 30,754 12,7671 1,922 30.754 (2.767) Tolal 29,W9 Analysis of assets b•tw8en fund5 - prior y88r Restiicled funds 2020 Total funds 2020 Tangible fixed assets Current assets Creditors due wrthin one year 2,242 2.242 124.378 124.378 {103,408) (103,408) Total 23.212 23,212 14. Op•rnting ha#• eommitm•nts Al 31 July 2021 the Corrwny had commrtmenls to make future minimum lease payments under non cancellable operating leases a8 fc4k)w8: 2021 2020 Not later than 1 year 9,369 9,240 16. Related party transactions During the year, the chanty paid £80,03812020'. £101,908) In relatK*n to staff wages and £48,009 (2020- £Nill in relation to management Charges to Forbs Twst which is an academy trust. Tha eharW8 Iruslee E A Hatton is also the ve principal of Fortis Trust academy trust. Page17