## ## ## ## |||||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|ded 30April 202|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)| ##