2021-04-30-accounts - Lee Abbey International Students' Club

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				Pages
Trustees' annual report (incorporating	the	director's	report)	1to 6
Independent auditor's report to the members				7to 10
Statement offinancial activities (including		income and
expenditure account)
Statement offinancial position				12
Statement ofcash flows				13
Notes to the financial statements				14to 24
The following pages do not form	part ofthe financial statements
Detailed statement offinancial activities				26to 27

Reference	and administrative	and administrative	and administrative	details
Registered	charity	name		Lee Abbey	International			Students	Club
Charity registration		number		232667
Company	registration		number	00764727
Principal office and		registered		Lee Abbey
office				Lynton
				Devon
				EX356JJ
The trustees
				Prof A A Pepper					Chair
				Revd Dr G	R	Cappleman
				E C Holland
				Revd Canon		A	0 Ladipo
				F E Noun
				Revd P A van			Rossum
				Revd Dr L	B	Taylor
Company	secretary			Magnus Proctor
Auditor				Thomas Westcott
				Chartered	accountants			&statutory	auditor
				47 Boutport Street
				Barnstaple
				Devon
				EX31 1SQ
Bankers				National Westminster
				41 High Street
				Barnstaple
				Devon
				EX31 1BZ
Solicitors				Carter Lemon			Camerons
				10Aldersgate			Street
				London
				EC1A4HJ

	Ye	ar end	ed 30April	2021
				2021		2020
			Unrestncted	Restncted
		Note	funds f	funds f	Total funds f	Total funds
Income and endowments
Donations and legacies Charitable activities		5 6	39,423 784,376	55,481	94,904 784,376	76,122 1,747,435
Investment income		7	438		438	2,189
Total income			824,237	55,481	879,718	1,825,746
Expenditure Expenditure on charitable	activities	8,9	1,328,144	45,680	1,373,824	1,739,983
Total expenditure			1,328,144	45,680	1,373,824	1,739,983
Net (expenditure)/income movement in funds	and net		(503 907)	9801	(494106)	85763
Reconciliation offunds
Total funds brought forward			4,547,980	73,044	4,621,024	4,535,261
Total funds carried forward			4,044,073	82,845	4,128,918	4,621,024

			30 April	2021
					2021		2020
				Note	6		5
Fixed assets Tangible fixed assets				14		5,975,555	6,250,183
Current assets
Stocks				15	8,361		8,252
Debtors				16	110,316		118,831
Cash at bank and in hand					104,089		341,250
					222,766		468,333
Creditors: amounts	falling	due within	one year	17	367,241		386,336
Net current liabilities						f144,475)	81,997
Total assets less current		liabilities				5,831,080	6,332,180
Creditors: amounts one year	falling	due after	more than	18		1,704,162	1,711,156
Net assets						4,126,918	4,621,024
Funds ofthe charity Restricted funds Unrestncted funds						82,845 563,746	73,044 4,547,980
Designated Property	Reserve					3,480,327
Total charity funds				21		4,126,918	4,621,024

Year en	1
	2021	2020
	E	f
Cash flows from operating activities Net (expenditure)/income	(494,106)	85,763
Adjustments for Depreqation oftangible fixed assets	314,744	323,375
Government grant income Other interest receivable and similar income	(14,219) (438)	(2,189)
Interest payable and similar charges	45,355	56,871
Changesin. Stocks	(109)	(392)
Trade and other debtors	8,515	(32,195)
Trade and other creditors	(119,095)	(88,590)
Cash generated from operations	(259,353)	342,643
Interest paid Interest received	(45,355) 438	(56,871) 2,189
Net cash (used in)/from operating activities	(304,270)	287,961
Cash flows from investing activities Purchase oftangible assets	(40,116)	(193,173)
Net cash used in investing activities	(40,116)	(193173)
Cash flows from financing activities
Proceeds from loans from group undertakings Government grant income	93,006 14,219	(110,656)
Net cash from/(used in) finanang activities	107,225	(110,656)
Net decrease in cash and cash equivalents Cash and cash equivalents at beginning ofyear	(237,161) 341,250	(15,868) 357,118
Cash and cash equivalents at end ofyear	104,089	341,250

			Unrestricted	Restricted	Total	Funds
			Funds	Funds		2021
			5
Donations
Donations			25,204	55,481		80,685
Grants
Government	grant	income	14,219			14,219
			39,423	55,481		94,904
			Unrestricted	Restricted	Total	Funds
Government			Funds	Funds		2020
				6
Donations
Donations			3,078	73,044		76,122
Grants
	grant	income
			3,078	73,044		76,122

8.	Charitable ac	tiviti	es
					Unrestncted		Total Funds	Unrestricted	Total Funds
						Funds 5	2021 f	Funds 5	2020 5
	Resident fees	and	income from
	running hostel Transit fees				777,433		777,433	1,526,045 201.276	1,526,045 201,276
	Sundry income					3,819	3,819	3,740	3,740
	Laundrette income					3,124	3,124	11,587	11,587
	Cafe income							279	279
	Room hire							4,508	4,508
					784,376		784,376	1,747,435	1,747,435
7.	Investment income
					Unrestricted		Total Funds	Unrestricted	Total Funds
						Funds f	2021 8	Funds 5	2020 f
	Bank interest	recewable				438	438	2,189	2,189
8.	Expenditure	on charitable		activities	by fund	type
							Unrestncted	Restricted	Total Funds
							Funds	Funds	2021
								5	8
	The management Support costs		ofthe hostel and community				1,138,784 189,360	10,000 35,680	1,148,784 225,040
							1,328,144	45,680	1,373,824
							Unrestncted	Restricted	Total Funds
							Funds	Funds	2020
								5
	The management		ofthe hostel and community				1,488,296		1,488,296
	Support costs						251,687		251,687
							1,739,983		1,739,983
9.	Expenditure	on charitable		activities	by activity type
					Activities
					undertaken			Total funds	Total fund
						directly Support costs 5 f		2021 8	2020
	The management community		ofthe hostel and		1,148,784		225,040	1,373,824	1,739,983

The management ofthe hostel and communi	ty
	Analysis of
	support costs 6	Total 2021	Total 2020 5
Communications and IT			2,678
General office	4,412	4,412	6966
Human resources	30,821	30,821	30,667
Finance costs	43,966	43,966	50,700
Auditor remuneration	8,652	8,552	9,159
Professional fees	539	539	13,431
Telephone Other office expenses Depreoation (Profit)/Loss on disposal offixed assets Grants and scholarships Contribution to Lee Abbey Movement	7,739 23,677 39,732 65,302	7,739 23,877 39,732 65,302	9,158 23,355 3,244 (180) 77,509 25,000
	225,040	225,040	251,687

2021 f	2020
314,744	323,375

The total staff costs and employee	The total staff costs and employee	benefits for	benefits for	the reporting	period are analysed as follows 2021 2020	period are analysed as follows 2021 2020	period are analysed as follows 2021 2020
							5
Wages and salaries Social security costs Employer contributions	to pension	plans				184,174 18,490 14,159	203,925 22,342 23,670
						216,823	249,937
The average head count of employees			during	the year was	27 (2020:	34). The average	number
of full-time equivalent	employees	during	the year is analysed		as follows:	2021	2020
						No.	No.
Runmng of hostel Management and administration						16 11	26 6
						27	34

	Land and	Fixtures and
	buildings	fittings F	Total f
Cost
At1 May 2020 Additions	8,263,761	1,865,619 40,116	10,129,380 40,116
At 30 April 2021	8,263,761	1,905,735	10,169,496
Depreciation At 1 May 2020 Charge for the year	2,898,426 180,846	980,771 133,898	3,879,197 314,744
At 30 April 2021	3,079,272	1,114,669	4,193,941
Carrying amount At 30April 2021	5,184,489	791,066	5,975,555
At 30 April 2020	5,365,335	884,648	6,250,183

			Company Limited by Guarant	Company Limited by Guarant	ee
			NOteS tO the FinanCial StatementS		irsniavedi
				Year ended 30April 2021
16.	Debtors
						2021 f	2020 f
	Trade debtors					54,231	57,379
	Prepayments	and accrued income				56,085	51,452
						110,316	118,831
17.	Creditors: amounts			falling due within one year
						2021	2020
						5	5
	Trade creditors					62,246	70,141
	Amounts owed Social secunty Other creditors		to group undertakings and other taxes			100,000 4,337 200,658	5,358 310,837
						367,241	385,335
18.	Creditors: amounts			falling due after more than one year
						2021	2020
						f
	Amounts owed		to group undertakings			1,704,162	1,711,156

					At					At
				1	May 2020	Income 6	Expenditure 6	Transfers 30 f		April 2021 6
General Property	fund Reserve			(2,219,993)		824,237	(1,328, 144)	792,418 3,480,327		(1,931,482) 3,480,327
Bursary	fund				20,DOO			(20,000)
Revaluation		reserve			3,104,220			(3,104,220)
Fixed asset reserve					3,643,753			(1,148,525)		2,495,228
					4,547,980	824,237	(1,328,144)			4,044,073
					At					At
				1 May 2019 f		income F	Expenditure 6	Transfers f	30 April 2020 5
General	fund				(2,232,712)	1,752,702	(1,739,983)			(2,219,993)
Property Reserve Bursary fund Revaluation reserve					20,000 3,141,805			(37,585)		20,000 3,104,220
Fixed assetreserve					3,606,168			37,585		3,643,753
					4,535,261	1,752,702	(1,739,983)			4,547,980
Restricted funds
					At					At
				1 May 2020 f		Income 5	Expenditure 5	Transfers f	30	April 2021 8
Building Bursary	the Future Fund		Fund		73,044	11,996 43,485	(10,000) (35,680)			75,040 7,805
					73,044	55,481	(45,680)			82,845
					At					At
				1 May 2019 f		Income	Expenditure 5	Transfers 5	30Apnl 2020 5
Building	the	Future	Fund			73,D44				73,044
Bursary	Fund
						73,044				73,044

22.	Analysis of net as	se	ts between funds
				Unrestricted	Restncted	TotalFunds
				Funds f	Funds F	2021 f
	Tangible fixed assets Current assets			5,975,555 139,921	82,845	5,975,555 222,786
	Creditors less than 1 Creditors greater than		year 1 year	(367,241) (1,704,162)		(387,241) (1,704,182)
	Net assets			4,044,073	82,845	4,126,918
				Unrestricted	Restricted	Total Funds
				Funds	Funds	2020
				2
	Tangible fixed assets Current assets			6,250,183 395,289	73,044	6,250,183 468,333
	Creditors less than 1 Creditors greater than		year 1 year	(386,336) (1,711,156)		(386,336) (1,711,156)
	Net assets			4,547,980	73,044	4,621,024
23.	Analysis ofchanges		in net debt
				At		At
				1 May 2020 f	Cash flows r	30Apr 2021 f
	Cash at bank and	in hand		341,250	(237,161)	104,089
	Debt due within one year Debt due after one year			(1,711,156)	(100,000) 6,994	(100,000) (1,704,162)
				(1,369,906)	(330,167)	(1,700,073)