Charlty R•gl$tratlon No. 265703
Compary Reglstratlon No. 01095065 {England and Wales)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
L.A.G. EDUCATION AND SERVICE TRUST LIMITED
tc
accounts. tax. legal . financial planning
76 New Cavèndish Street
London
W1G 9T8

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Julian Allen
Dr Laura Janes {Chair)
Sonia Kalsi
Ojiver Flivers (r￿¥s￿rer}
Russell Conw8y
Angela Patrick
Heather Thomas
S•crotsry
OINer Rivers
Charlty number
265703
Company number
01095(￿5
Principal *ddroSS
cIc* Oliver Fisher
Royalty Studios
105-109 Lancastsr Road
London
W11 1QF
Regi5tor•d offic•
clo Oliver Fisher
Royalty Studios
105-109 Lancaster Road
London
W11 1QF
Auditor
TC Group
76 New Cavendish Street
London
W1G9TB

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
CONTENTS
Twslees, rekx)rt
Inde￿ndeftt audit￿$ report
Statement of financial adi￿lIeS
Statement of financial positi
10
Statement of cash fl
11
Notes to the ffinancial slatemerrts
12-25

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees, who are also directors of the tharity for the purposes of the Companieg Act 2006. have pleasure
in p￿SentIng their Report and the Financial Statements for the year ended 31 December 2020. which are also
prepared to meet the ￿qUIreMerts for a directors. rèFK)rt and financial siatement$ for Companie5 Act
purposes.
The financial statements have been prepa￿d in accordance wth the accounting polioe$ set out in note 1.1 of
the financial statements and comply wth the Gharrty's Memorandum and Artides of Association. the
Companie5 Act 2006 and "Accounting and ReportiThJ by Charities.. Stslemenl of Recommen¢Jed Practice
applicable to charities p￿paring their ac¢ount$ in aco)rdance the Finanaal Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019)..
strl￿tUre, govemance and management
Goveming document
L.A.G. Edu¢abon and Service Trust Limitèd I'LAGI is a company limited by guarantee and a registered
chanty, incorporated on 8 Fetxuary 1973, wmpany nwiber 01095065, and wi51ered a5 8 charity. number
265703, on 21 June 1973.
The ￿MpanY was established under a Memorandum of Association. vthich established the objects and
powers of the charitable company and is governed under its Articles ofAssociation.
The tnjstees
The trustees. who are also the directors for the purpose of company law. and who served during thE year
were..
Julian Allen
Dr Laura Janes (Chair)
Sonia Kalsi
Oliver Rivers ITrea5urerl
Russell Conway
Angela P8lri¢k
He8ther Thomas
Appointmgnl olttuslees
Recruf(ment to the tnjstee board is by eleth'on and co-opts'on. At the 2020 Annual General meets.ng IAGMI. the
trustees on the board vtho had served for tJ¥o year5 resigned and elections were held for new trustees. The
Memorandum and Artides of association provided for 11 trustees tr) be ele¢ted 7 to be cLwpled. Angela
Patri&. Ru$seU Conway and Oliver Ri¥ers were wlected to the board.
Organisational stnjcturs and deusAon making
LAG Is both a regisleied charity and company limited by guarantee. A board of $even tru$tee$ and directors is
responsible for the govemance and strate9ic management of Ihe organisation. Board members are elected at
an AGM of all members arKI meel every months thrWout the year.
A gtsff team of six is managed by LAG'S chief executive officer. There are heads of department..
Publishin9 Direcioi and Finance and Admin Manager". and Leg31 Action Editor. These post holders are
responsible for managing department budgets.
PaypolKy kJrseniorsf8ff
All trustees. who are also direclors. give Iheir time freely and none of them received remuneration in the year.
The pay of the Chief Exewtive Officer ("CEO") ig revie*Ed annualty, abng with staff salaries.

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
ObJ&¢llves and actlvities
LAGS charitabl& objective
To promote and advance education and krtovAedge of Ihe law in the United Kingdom and secondly to relieve
poor persons in the United Kingdom by promoting and assisting vthh the promsion of legal services which
would nol otherwse be available to them through of mean$.
LAG s Vision
Our vision is a fair legal syslem that exdudes no one. uphohjs equalty and sockql justice, and meets the
needs of the people it serves.
Legal Action Group supports and empov*rs those provKYing kgal seN¢es anrj using the law to achieve
ju$ti¢e for those vtho are disadvantaged, unable to speak for themselves LY stnugle Ig b¢ heard, by:
PuNishing and di$seminatiThJ acce￿ts4e. high quality. aulh￿l13tive and up to dale legal information
and kno￿edge.
Delivering education and training and creating opportunlties for the exchange of klea$.
Being an authorit*'ve vorce speaking up forjustice and improthng law and practice.
On this basis. the Trustees confimi that they have complied vhth the duty in seth.on 17 of the Charities Act
2011 to have due regard to the Charity Commission's general guidance on public benefft.
strateg￿ aims
LAG is a ￿spected commentator on legal aid and aceess to juslice isyjes. magain¢ Legal Aclion 18 the
main outlet for our policy messages to achieve our Vision. Both the specialist legal media and the wider prinl
and broadcast medi8 perceive LAG as one of the leading eommentators in this area of work.
LAG'S strategic aims in line wrth our vision are as folloYaV5=
Strategic aim l.. Publish and disseminate accessibte. hvJh quality. aulhoritative and up to date legal
information and kno%￿edge.
Strategic aim 2." Ddiver edu￿tIOn and training and uealing opportunitse$ forthe exthange of ideas.
Strategic aim 3: Be an aulhorttative vote spe8kOng up forN1sti￿ and improving law and practice.
Duilal slrategy
A major part of the work of LAG is the publication of information on the law lo in¢re8se knovAedgÈ of legal
rights. Most of the charity's income is derived from the sale of publications. In 2020 LAG urgenljy had to adapt
to the ¢ircum51ances of the pandemic and the move to hoMe-¥￿￿n9. The was achieved by insreased
focused on the availabilsty of digitsl produ¢t$ and development of mutti-user licences for large organisations.
L4G also provided a service to la￿erS and the advice sector by prowding up lo dale COWD-19 legal
resources and making these wdely available. induding for free for a certain period of time. The training and
even15 programme was completely reorganised online training courses devekjped and we ended thè year
having provided training lo over 1000 delegates.
The main priority of LAG'$ Board of Trustees has been to urgenty address LAG'S financial position in
particular to assist in reluming the charity to a trading surplus. LAG conb.nues lo follow the recommendations
in the Oxford Br(yJke$ reports of 2016 and 2018. ￿ntred on the implementation of a digiial first strategy for
LAG'S publications to increase income and to prowde an improved seNice to our ￿•￿er$.
Slatemenl on Complian￿ with Chai*y CommiSs￿n guAlance
The trustees have paid due regard to guidanee issued by the Chanty Commission in deading what actiwties
the charity Should undertake.

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2020
Achlevements and perfornianc•
LAG'5 COMMer￿al activities in publicati￿S arbd training meet the oty'eth've$ of in¢￿agn9 knoN%ledge of legal
rights. particularfy in those areas oflow that have the 9￿atest imp8¢t on the wlner8ble and socially excluded
Istralegic aim 11.
LAG ntsw putrAishe$ over fifty book8 on law. The sale of these provide5 the largest source Df revenue for the
charity. Much of the activity of the chanty is carried out lo expand the market for LAG'S products and to
maintain an elTiaent and sdvent business Istrategic aim 11. AI a￿ available in print and duilal fornial
and available to buy as'bundles, of printldigiial.
Publishing
New ediliony of LAG'S books were published induding Legal Aid Handbook 2020nl, Defending
Suspecls at PolKe stat￿n$ and ManLtal ofHousing Law
New tides were developed and LAG published new t>ooks including Adolescent Men181 Health Ca
and thg Law, Cluslered InjustKe and Ihe levelgreen and Justice Mattets.
Ten editions ol Legal AclM)n magaJne Y￿re published. We contsnue to operate a digital-fiist pdicy
whereby magazine content is published online as soon as it is edited and ￿eeted out to LAG'S
followers. Responding to customer demarbd. the magazine is now available to 5ubscriber5 as a pdf in
the 'Archive' section of the website. L4G responded to the pandemic and new working relationships
for Practsboners by offering all COV1[￿rel￿d wtsnt for free online during the first lockdown,
including law and practice
Communily Carg Law Reports (CCLR) We￿ published wwterfy in print and online.
Training Events
As the pandemic hit in March we wEre unable to run any of our usual training and events programme
in 2020, though by September we had successfvlly Set up a programme of online training to be
delivered online. These events induded training on Inquests, Introduction and Advanced Acllons
Against the Poli¢e, all of vkni¢h ex¢ee(Jed delegate numbers from previous years.
LAG also ran a number of online seminars and book launche$ ￿1¢h were free to attend which
$ignffjcanUy enhanced the reach of the books, inc*ea*ng sases and exposure.
The continuing dedine in the number of legal aid providers is Ihe main threat to LAG achiewng 11$
objectives. The ￿￿￿¢tion in charrtable advice and legal aid sector. due lo ujts in legal aid rates. local
govemment and other public spending, as %%ell as the strain caused by COVKI, is another significant threat tD
LAG achiewng ils slr*egi¢ objectives. The shrinking market for our publications though, has led to the
withdrawal of t>)mpetitors from the market and an increase in the need for r)￿ine publications. LAG has
regponded well to this need." increasing on4ine public*ions and the prowsion of mulb'_user licences
Key Perfomance Indicators {KPI) for LAG'S acb"wb"e$ are..
Increase in variety and sales of pUbl￿at￿nS measured by addbtsons lo existing backlist of products
and lumover.,
Increased revenue from courses and conferences..
Successful implementation of the digitsl Strategy induding adoption of and succetsful use of new
accounting and CRM sOf￿Are.
Media profile of the ¢hairty measured by coverage of L4G's policy mes5age5 in the speciali51 and
mainstream media..
So¢i¥l me<lia profile meosuw by ¥￿b￿le Iraffic and Twitterand Facebook follo￿Ers.

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2020
Flnanclal revlew
LAG incurred an unrestri¢teiJ surp￿$ of £1 S,513 (2019.. £80,524) for the year and has a combined total
surplus £108.61312019= £75,889) in restricted and unrestricied balances al Ihe year end.
The Chief Exetkn"ve Officer and Finance Manager continue to d05dy V*ith LAG'S Treasurer to ensure
the finanaal stability of the charity. This is achieved by produung regular management accounts and cash
flow projections to identify any future rash flow problems 50 that action can be taken beforehand lo ensure the
survival of the charty. Regular meetings take place beMEen department heads to identfy changes to
proposed budgeted inwme and expenditu￿.
Reserves ptsltcy
Reserves are hekj to provide SLfficient worknng cakvlal to cover season81 and cyclical fluctuab.ons In trading
and to proled against any drop in income. The trustees. longerlerm aim is to hold a Fevel of unrestricted fund$
that are not designated or invested in tangible fixed assets (the free reser¥esl, vthi¢h is not le$$ than one half
of the resources expected to be expended during the following months.
The totals funds held in reserves at 31 December 2020 are £108.613 (2019." £75,889)_ Of this arnount,
unrestricted funds showed a surplus of £76.003 (2019.. surplus of £60.490) whife restricted fvnds showed
surplus £32,61012019.' surplus of £15,399).
Risk man8g8menl
The Iruslees have reviewed the major business. financHI $tr*¢gi¢ ri$k$ to the charity 15 exposed
and ¢onfimi that steps have been tsken to mitigate those risks.
The main risk to the organisation 15 the wnthnuing dedine in the numbers of firms and organisations
undertsking legal aid work and the narro￿￿ng of ihe margins on the remaining fimis operate. as these
firms are LAG'S main customers. Ott)er customers such as local authorities are 8190 operating in difficult
financial circumslance5.
A second major risk is the availabilrty of capitsl. The charity ha5 mibgated this risk by incfeasing its
unrestricted reseryes.
Coslg are kept under constant remew and new markets are beirrfj developed for the trading activf(ies. In 2020
the Covid-19 pandemic and the economic ¢onsequen¢es of lo¢kd(yffi Nsere llol anlKipaied but vhile this could
have been a severe test of LAG'S resilience the move to digital has obviated the Y￿)rSt effects ol the
changed enwronmenL
Plans for the future
Below a￿ some of LAG'S plans for 2021 and f￿er ahea(l."
LAG plans to expand its incc¥ne and reach through the ￿e$ of digital products a$ well as printed
publications.
The digital first strategy continues to be implemented to ensu￿ Ihe kjng terni future of the charity.
To develop a broad training programme. both onvline and in person when p0s￿bIe.
LAG will be actively ex￿Oring options to secure new premises that wll enable a blend of home arKI
office wrking.
LAG wll tsjntinue to raise its profile as a commentator on kgal aid and a(￿$9 lo justice. through the
Legal Actjon Maga￿ne and other media ouuets and lo play a leading role in campaigniThJ on acces$
to justice. Key wiorities for the magazine indude increasing the proportKJn of young subscribers -
trainees. pupils and students by tailoring content io those age groups as well as marketing to them
more effectivdy. The Maga￿ne is also keen to expaThJ its pool ol a(rthors so that wo have YOu￿er
and more diverse ve4ces in the maya￿ne.
We will prioritlse NK)rking Yith partners to maximise our impacl and *fjll posf(ion the charity lo play an
adive part in leading debate on the ¢Jevelopmenl of the law. eontsntrating on our core areas of Civil
law. housing, employrnent, communty care, immigration and public law induding mental heath.
To use the 50th anniversary lo enhance and strengthen LAG'3 profile.
LAG'S new CEO wll oversee a review of its current structure and practices to ensure they are best
suited to meeting the obj'ectives of the charity.

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Stal•m8nt of Trustees. responsibilities
The Irustees, who are also the direclors of L.AG. Ed￿￿tion and Service Twsl Limited for the purpose of
company law. are responsible for preparing the TnJstees' Report and the financial statements in accordance
th applicable 18w and United lthngdom Aeeounb"ng Standarfjs Iunrted Kingdom Generalty Aecepted
ACcOL￿ting Praclicel.
Company Law requires the tnjstees to prepare financial statements ts each finanaal year which give a true
and fair view of the stste of affairs of the Chanty and of the incoming resources and applicab.on of ￿sources,
induding the income and expendrture. of the charitable company for that year.
In preparing these financial staten*nts. the twstees we requ￿1 to..
- select suitable account￿9 poliues and then appty tr*m con5iStenty,'
- observe the wwEthod5 and principles n the chanb.es SORP..
- makejtthygements and estr"males that are reasonable and prudent.,
- Stsle whether applicable UK Atxounting Standards have been fdk)wed, s￿1}e¢l to any material departures
disclosed and explained in the financial statements.. and
- prepare the financial staternents ￿ the g￿n9 concem basis un]ess it is inapprcwate to presume that the
charity will continue in operation.
The trustees are ￿sponSible for keeping adequate 8ccounb.ng rec￿d$ that disclose wth wsonable accuracy
at any time the financial px)srtion of the tharity and enable fhem to ensure that the finane4al statements eomply
with the Companies Act 2006. They are also responsible for safeguarding the assets of the tharty and hence
for taking reasonat4e step5 for the prevention and detection of fraud and other irregukrities.
Auditor
TC Group w?re appointed as au&rtorto the company and a ￿$dUtION proposing that they be re-appointed wll
be put at a General Meeting.
Disclosur• of infomiation to auditor
Each of the iru5tees has confirmed that there is no inforrna￿ of V*fiich they are aware wthich is relevant to
the audit. but of sthich the auditor is unaware_ They have further confimed Ihat they have tsken appropriate
steps lo identify such relevant informalion and to establish that the auditor is aware of such information.
The Trustees, report was approved by the Board ofTwslees.
Oliver Rivprs (TreasuTrr
Trustee
Dated.. 20 July 2021

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF L.A.G. EDUCATION AND SERVICE TRUST LIMITED
Oplnlon
We have audited the finan￿al st*ements of L.AG. Edui*"¢)n aNJ SeNi¢e Trust Lirrite(1 (the '¢hanty'l for the
year ended 31 December 2020 ¥*ii¢h comprise the statement of financial activities. the statement of financial
position, the slatement of cash flows and the notes to the financial statements, inclLTrding a summary of significant
accounting policies. The financial reporting framework that has been applied in their preparation 15 applicable law
and United Kingdom Accounting Standards, induding Financial Reporting Standard 102 The Financial Reporting
Standard AppI￿able in the UK and RepublK of I￿land (Unrted Kingdom Generally knepled Accounting
Practice).
In our opinion. the financiat slatemenls=
give a true arKI fair view Of the stale of the charitable company's affairs as at 31 December 2020 and of its
incoming resources and ap￿ICabOn of resources. for the year then ended"
have been propedy pcepared in accordance *ryth United l("ngdom Generalty Accepted Arwunlng PraCt￿e.,
have been prepa￿￿ in ac¢(¥dance wlh the requirements of the Companies Act 2006.
Basis for opinion
We conducted our awjit in accorda￿ Inlemational StarKlards on Auditing (UK) IISAS (UK)) and applicable
Jaw. Our responsibilities under Ihose standard$ are further desgibed in the Audiloe5 responsibilities for the audit
of the financi815talemenls section of our report. We are independent of the charity in accordance vmh the ethical
requirements that are relevant to our audit of the finanual st*ements in the UK, induding the FRC'S Ethical
Standard, and have fuffilled our other ethKal responsibilities in accordance with these requirements.
believe that the audit e￿de￿e have obtained is sufficient aThJ apprwale to prow(k a basis for our q)inion.
Conclusions relating to going concern
In auditing the financial statements, we have conduded that the Trustees. use of the ￿Ing cOn￿M basis of
accounting in the preparation ol the ffinancial 5tstements is appropriate.
Ba$¢d on Ihe we have perfomied. we have not idenb.fied any material uncertaintie5 relakn'ng lo events or
condits.ons that. indiwdually or collectively. may cast Slgnificanl doubt on the tharity's ability to continue as a
golng C￿CeM for a peric%1 of at leasi twd¥e I￿nthS from vthen the financial statements are auth)ri5ed for issue.
Our responsibilrties and the responsibiliti.es tsf thÈ trustees with respect to gjing concem are descrtled in the
relevant seclions of this reporL
Other infomiation
The other infomiation comprises the infonnation induded in the annual repgrt other than the finanoal ststements
and tsur auditorf$ report thereon. The trustees are responsible for the other inf0m1at￿n contained wthin the
annual reporL Our opinion on the financial ststements not cover the other inlomiaD"on and. except to the
extent otheThsise eypli¢itty ststed in our report, we do not express any fomi of assurance condusion thereon. Our
responsibility is to read the other infomiation and. in doing so. consider %thether the tsther infomwtion is
materially inconsistent with Ihe ffinancial statements or our knovAed9e obtained in the course of the audit, or
otherwise appears to be materially misstsled. If we identfy suth material inconsistencies or apparent material
misstatemerts. we 8re required to determine %•thether this gives rise to a material misstatement in the ffinancial
slaternents themselves. If, based on the we have perfomied. we conclude that there is a material
mi5Statement of thi5 other information. we are requred to re[￿ that fact.
have nothkng to report In this regard.

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF L.A.G. EDUCATION AND SERVICE TRUST LIMITED
Opinions on other matters pr•scribéd by th• Companles Act 21)06
In our opinion, based on the work undertaken in thÈ course of our audit..
the inforniation given in the Trustees, report, vthich includes the djrectors, report prepared for the purposes
of company law. for the financial year for Nthich the finanrjal ststemenls are prepared is consistent *41h the
rinancial statements. and
the directors. report included wthin Ihe Trusiees. report has been prepared in accordance wth applicabte
legal requirements.
Matters on wthleh ￿ arè requlred to report by exeeptlon
In the Iwht of the knovAedge and understanding of the charity and its envir¢)nment obtslned in the course of the
8udil. we have not ￿#entiffied material misstatements in Ihe directors, report induded wrfhin the Twstee$' ￿port.
We have nothing to report in respect of the fO1￿￿fig matters in reLation to vthich the Companies Act 2006
requires us to report to you if, in our opinion:
adequate ac¢ounling ￿COrdS have r￿1 been kepl. or returns athquate for our audit have not been received
from branches not visited by us.. or
the financial statements are not in agreement wth the a￿￿nting records and retums., or
certain disclosures of trustees, remunerabon spe(?fied by law a￿ not made", or
we have not received all the information and ex￿anationS ￿quIre for our audrt". or
the trustees weie not entided to prepare the financial $tstements in a¢cordanL* W￿h the small companies
gime and take advantage ol the small companies, exemptions in preparing the Trustees, report and from
the requirement to prepare a Strateg￿ reporL
Respon51bllltles of trustees
A$ explained more fvlly in the statement of Truslees. responsitAlthes, the trustees. vA)o arè also the direelors of
the charity for the purpose Qf ¢ompany law, are responsible for the preparation of the financial statements and for
being satisfied that they give a true and fair view. and for s￿h intemal ￿ntrc4 as Ihe Iruslees deterrnine is
necessary to enable the p￿paration of firtan¢ia statements that are free from material misstatement. ￿ether
due to Iraud or etror.
In preparing the finan¢ial statements. the trustees are tesFonsible frjr assessing the charity's ability lo continue
as a going concern, disclostng, as applicable. matters related lo going concem and using the going concem
basis of accounting unless the trustees either intend to liquidate the charitsble Company or to ¢ease operations,
or have rbo realistic altemative but to do $0.
Audltovs rg$ponslbllltlgs for th• audlt of th• financi•l ststements
Our objectives are to obtain reasonable assurance about Nthether the financial slatements as a bthole are free
from material misslalemenl. vknether due to fraud or error. and to issue an audrtof$ ￿POrt Ihat includes our
opinion. Reasonable assurance 1$ a high level of assurance but 15 riot a guarantee that an audit conducted in
accordance y￿th ISAS (UK) will a￿yS detect a material misstatement when it exists. Misstatements can arise
from fraLKI or erTor and are consTrdered material rf. indimdually or in Ihe aggregate. they could reasonably be
expected to influence the eCon￿1C decisions of users tsken on the basis of these financial ststemenls.
Irregularities. including fraud. are Instsn￿$ of nortr￿mPlI3nCe 7thth laws and regulaD"ons. The extent lo vthich our
procedure$ are ¢apable of detecting iffegulaiitieg. induding fraud. is delailed below.
Extent to lhthlch th• audit considered capable of detectlng 5rregularltles, includlng fraud
The objectives of our audit, in respect to fraud, are.. lo idenlty and assess the risks of materi81 misglatement of
the financial stslemenls due lo fraud." t¢ obtain sufficient appropriate audit evidence regarding the assessed risks
of material misstatement due to fraud. through designing 8nd implementsng appropriate responses,. and to
respond appropriately lo fraud or suspected fraud identified during the audit However, the primary responsibility
for the wevention and detection of Iraud rests with both those ch*ge¢J Vlilh govemance of the entity and ils
managemenL

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE TRUSTEES OF L.A.G. EDUCATION AND SERVICE TRUST LIMITED
Our approach was as foll￿..
We identified areas ol laws and regulations that Could reasonably be expected lo have a material effect on
the fin3ncial 5ts1emen13 from our general commeraal and sector experience, and through discussion
the directors and other management la$ required by auditing stsndardsl. and discussed wlh the d1￿Clor5
and other management the policies and prO￿dureS regarding compliance with laws and regulalions,.
We consplered the legal and regulatory framewths direclty applicable to the financial statements reporting
framework {FRS 102 and the CompaniesAct 20061 and the relevant tax cgmpliance regulations in the UK..
We considered the nature of the industy, the control enwronment and bLrsiness perfomiance, including tho
key drivers for managemeni'$ remuneration-
Vve comrnunicaled Idenbfied laws and regulations Ihroughoul our team and remained alert to any indications
of non-compliance throughout the audit",
Vve considered the procedures and controls that the company has established to address risks identified, OT
that otherwse prevenL deter and detect fraud". and how senior management n￿nItOrS those programmes
and control$.
Based on this understsnding we designed t￿r audrt procedures to Nlentify nonwcompliance wth such laws and
regulations. Where the risk was considered to be h￿her, we performed audit procedures to addre55 each
identified fraud risk. These proce<lures included.. te$b"ng manual Joumals,. reviewing the finanual statement
disclosures and testing to supp)rbng documentation". perfomiing analytiCAI procedures.. and enqviring of
management, and were de51gned lo provid? reasonable assuran￿ that the finanaal ststemenls were free from
fraud or error.
Owing lo the inherent limilalions of an audiL there is an unavoidable risk that we may nol have detected $ome
material misstatements in the financial statements, even though we have property planned and performed OUT
audit in accordance wth au￿￿"ng standards. For example. the further removed norrfompliance with laws and
regulations lirregulariliesl is from the events and Iransadions reflected in the financial stalEmenls, the les5 likely
the inherendy limited procedures required by audikn.ng standards wjuld identify it. The risk is also greater
regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment,
forgery, collusion, omission or m1¥ep￿sentataon. We are not re5pon5ible for preventing rtor1￿cOrnplIance and
cannot be expected to detect nonvc0mpl1an￿ vAth all lavts and regulabons.
A fvrther description of our responsibilitses is available on the Financial Reporting Ctyjncil's website al- https'.11
w.frc.org.ukJOUr-WorkJAudiVAudit-an¢J-assurancelStsndards-anf￿uidan¢e1Sla￿d3rds-a￿[kgUidanCe-
foraudilorslAuditors-respon5ibilities-for-auditlDescription-of-audttors4esponsiknlthes-for-audit.aspx.
This descriplion foms part Df aur auditorfs repJL
Us& of our report
This ￿pOrt is made solety to the charitable company's members. as a body, in accordance wth Chapter 3 01 Part
16 of the Companies Act 20C6. Our audit work has been undertaken so that might slate lo the charitable
ompany's members tFK)se matter5 we are required to stale lo them in an auditors. repK)rt and for no other
purpose. To the fullest extent pemiitted by law. we do not accept or assume re$F￿nsIbility to anyone other than
the charitsble company and the charitable wmpany's members as a body, for our audit work. for this report. ¢)r
for the opinions we have formed.
mark le¥y (Jul 20,
2108..35 GMT411
Mark L•vy Isènlor Statutory Auditty)
For and on behalf of TC Group
Statutory Audltor
Dat• 20 Julx 2021
Office: London

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2020
Unrestrictgd Restrict8d
funds
funds
2020
2020
Total Unrestricted Restricted
funds
funds
2019
2019
Totsl
2020
2019
Notes
Donabons and legaaes
Charitable actMlie5
Investrnent5
14.114
487.174
13
37.725
51.839
487.174
13
11,387
594.692
13.590
24,977
594,692
Total incom8
501.301
37.725
539.026
606,079
13.590
619,669
Ex
endlture on:
Raising funds
430
430
738
738
Charitsble actiwlies
487.084
18.788
505.872
524.817
38.445
563,262
Totsl resources
expended
487.514
18.788
506.302
525.555
38,445
564,000
Net Incomlng
resour¢e$ bgfore
transfers
13.787
18.937
32.724
80,524
124.8551
55,669
Gross transfers
between funds
1,726
(1.726)
Net Income for th• yearl
Net m¢vem•nt In funds
15,513
17.211
32,724
80.524
{24,8551
55.669
Fund balances at 1
January 2020
60,49)
15,399
75.889
120,0341
40,254
20,220
Fund balances at 31
December 2020
76,003
32,610
108,613
60,490
15,399
75,889
The statement of financial activitieg in(4udes all gains and losses rectsJnised in the year.
All income and expenditure derive from continuirvj acbwbes.
The sial8ment of financial activities also ￿mplIeS wth the retyiremenls lor an ifi￿Me and expenditure account
under the Companies Act 20C6.

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
STATEMENT OF FINANCIAL POSITION
AS A T 31 DECEAIBER 2020
2020
2019
Notes
Fixed assets
Tangible assets
Current assets
Slocks
Debtors
Cash at bank and in hand
11
2.546
1.216
12
13
62,561
99,040
109,054
83,686
125,850
21,401
270.655
230,937
Creditor5: amounts falling dug within
one year
15
(113.301)
(152.1471
Net Current assets
157.354
78,790
Totsl a$sots less ¢urrgnt Il•bllltl8s
159.9
80.0(IS
Credltors: amounts lalllng due after
morg than ono year
18
{51,287)
(4.1171
Net assets
108,613
75,889
Income funds
Restricted funds
Unrestn'cted funds
18
32,610
76,003
15.399
60.490
108,613
75,889
The fina￿la1 ststements ￿*re approved by the Trustees on 20 Juty 2021
Dr Laura Jane5 (Chairl
Trust•e
Oliver Rive￿ (Treasurer)
Truste•
Company Reglstration No. 01095065
10-

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2020
2020
2019
Cash flows from operating activitias
Cash generated froml(absorbed by}
operalions
23
40,465
(12,4581
Inv•sting aetivitt
Purchase ol tangible fixed assets
Investmenl income received
{2,8251
13
(9611
Ngt ¢a$h u$od In Invèsllng actlvhles
(2,812)
19611
Flnancing a¢tyvltle$
Proceeds of new bank bans
50,fy)0
Not cash generat8d fromllusad In}
financing activitie*
50,000
Net increaselldecreasel in cash and cash
oquivalènts
87.653
(13,4191
Cash and cash equNalents al beginning of year
21,401
34,820
Cash and ¢a$h oquivalgnts at end of year
109.054
21.401
11

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Accountlng pollcles
Charity inforniation
L.A.G. Education and SeNce Trust Limiled is a private company limited by guarantee incorporated
England and Wales. The registered office and plsee of business are ejo OINer F15her, Royalty Studios,
105-109 Lantxster Road, London. W11 1QF.
1.1 Accountlng convention
The financral ststemenls have been prepared in accordance V+ilh the charity's Igoveming documentl, the
Companies Act 2006 and 'Accounting and Reporting by Charities.. Stslemenl of Recommended Practice
applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20191. The charity is a Public
Benefit Entity as defined by FRS 102.
The financial stslemenls are prepared in slerfing. wh￿h is the funcliona currency of the charity. Mtsnetsry
amounts in these financial ststements are roundefj to Ihe nea￿$1 £.
The financial statements have been Prepa￿ under Ihe histon.cal cosl convention. The principal
a¢￿UntIng wlioes adcyted are set ￿t Lth.
1.2 Going concem
Al the time of apwoving the financial statements, Ihe tmstees have a reasonable expectation that the
charity has adequate resources to conlinue in operational e￿StenCe for the foreseeable fvture. Thus the
trvslee5 ojntinue to adopt the going concem ba%s of accountiThJ in preparing the financial ststements.
1.3 Charltable fund8
Unreslrided funds are available for use at the discretion of the trustees in futherance of their charitsue
objectNes.
Restricted funds are subject to specific conditsons by donors as to ht)w they may be used. The purposes
and uses of the restricteil funds are set OLrt in the notes to the financial siatements.
Endowment funds a￿ Subject to specrfic C0ndrt￿nS by donors that the capital must be maintained by the
charity.
1A Incoming rèsources
Income is recognised %%then the charity is legally enb'led lo it after any performance cond￿On5 have been
mel. the amounts can be measured reliably. and il is probable that income VMII be received.
Cash donalms are recognised on receipt. Other donations are re¢cgnised on¢e the Charity ha$ been
notified of the don8tion. unle$$ perf¢m8nce conditions require deferral of the amount. Income tax
recoverable in relation to donations received under Gfft￿d or deeds of covenant is recognised al the lime
of th& donation.
Income from grants is recognised the charity has entrtlement to the fvnds. any perfomiance
conditions aitached to the grant$ have been met it is probabte that the income wli I be received and Ihe
amount can be measured ￿liablY and is not delerred. These grants tend lo be for specific purposes, for
example. the writiro of a reporL and are therefore treated as restn'cled funds.
Income received for ftrture courses and LÈgal ACt￿n magazine and CCLR subs¢ripb'ons received in
advance a￿ deferred until the charity is entitled to these amourrts. The amounts are released to the
statement of financial activities in the period to which it relateg.
12-

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
A¢c¢unting polic
(Continued)
Income from L8gal Atttion magazine arKI CCLR sales are apportioned evenly over the pe￿d of the
subscription. The charity offers subscription lengths of either 1 year or 2 years.
Income from book sales are recognised in the monlh of $ale.
Interest is included when receivable by the charity.
1.5 Resources expended
abilitses are re¢ognised as eynditure as soon as there is a legal or constructbve obligation ￿MMIt￿n9
the charity to that eXpend￿re. it is Pfobat4e that setuement wll be required and the am(yJnt of the
obligation can be measured reliabty.
Al expenditu￿ is accounted for accwals basis. indusive of any VAT wfiich camot be recovered. All
expenses including support costs and govemance ¢osts are allocated c)r apportioned to the applicable
expenditure headings. Certain expendilure that can be directly attributable to specrhc activities has been
induded in those cost categories. Certain other costs, which are attn'butable to more than one activty. a
apporb.oned a¢rog9 Cost categorie5 on the b￿S of an estimate of the Froportion of time spent by staff on
those activities.
The olrect costs of funth•sing a¢tsvitse$ and the WOFQrti¢)n of overheads requi￿ lo support these
activib'es.
Govemance costs a￿ those >r￿ur￿d Mi the govemarKe of the chanty are primarily associated wlh
constitutional and statutory requirements.
SUP￿ costs are those expenses i￿￿Te(l Io supw the oCtNities in fvrlherance ofthe charity's objects.
1.6 Tangible fixed assets
Tangible fixed assets are iniiiaty measured at cost and subsequentty measured at cost or valuation, net of
depceciation and any impaim*nt losses.
Depreciatlofl 15 recognised so as to *ATite off the cost or valuation of assets ￿$$ their residual ¥a￿tr$ over
their useful Ives on followng bases:
Fixtures and ffttings
33.33% stra￿hlINIe
The gain or loss ariwng on the (lsposal of an a$5et is ¢Jelemined as the tjifference befv￿en the sale
proceeds and the ￿rying value of the asset. and is recognised in net incomellexpenditurel for the year.
1.7 Stocks
Stocks a￿ stste¢J at the lower of cost and estimated selling price less costs to compleie and sell. Cosl
comprises direct materials and. %there applica￿e. direct labour Costs and Ihose overt)ead$ that have been
incurred in bringing the 3lock$ lo their present location and condition. Items held for distribution at no or
nomina consideratson are nRasured t￿ lty￿r of ￿placement cosl ¢o$L
Nel reali5able value is the esbmated selling wce 311 estimated costs of completion and costs lo be
incurred in marketing. selling aK1 distn"tKrtion.
1.8 Cash and cash equivalènts
Cash and Cash equivalents inchjde cash in hand. deposits held at eaN ￿1th banks. and bank overdrafts.
Bank overdrafts are shovm within borrow7ngs in Gu￿ent liabilitie5.
f3-

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Accountlng po15cles
(Continued)
1.9 Financial instrum•nts
The charity has elected lo apply the provisions of Section 11 'Basi¢ Finanaal Instruments. and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its fjnanryal instruments.
Financtal instruments a￿ recognised in the chanty's balance sheet then the charity becomes party to the
contractual prowyons of the instrumenL
Financial a$set$ and liabilities are offset. wilh the net an￿ufits presented in the ffinancial statements. ￿en
there is a legalty enlorceable right to sel off the recognised an￿Unts and there is an intention to seltle on a
nel basis or to realise the asset and settle the liability Simultaneou￿Y.
Basic financialassets
Basic financial a55ets. %thith indude debtors and cash and b￿k balances. are initially measured at
transaction price including transaction costs and are subsequenuy carried at amortised cost usirvJ the
effective interest method unless the arrarKJemenl I>)n￿"tuteS 8 financing Iransadion, vh)ere the transaction
is measured al the present value of the hjture receipts discounted at a markel rate of interest. Finandal
assets classified as receivable wtthin one y?¥r are not amorb"sed.
Basic financial lialjilities
Basic finan¢ial liabilth'es, induding ueditors and loans are initially recognlsed at transaction price unless
the arrangement constitutes a financing transaciion. vthere the debt instrument is measured at thE present
value of the future payments dlsctxjn￿(j at a market faie of rte￿$t. Finanti81 li8ts"lits"es dassified as
payable wthin one year are not amortised.
Debt instrument9 are $ubsequenUy carried at amorhsed cost. using Ihe effective inleresl rate method.
Trade creditors are oblig*rons lo pay for gocK15 or services that have been acquired in the ordinary course
of operations from suppliers. Arnounts payable are classified as curreni liabiltbes if payment is due wlhin
one year or less. If not. they a￿ p￿sented as non-cU￿enI liabilities. Trade creisitors are recognised initialty
at lransacts.on pnce and subsequentty measured at amortised cost using ihe effecttve interest method.
Derecognltlon of Ilnan¢lal liabilities
Finan￿31 liabilities are deTecognised vthen the charity's C<￿traCtUal obligab.ons expire Dr a￿ discharged or
cancelled.
1.10 Employee beneffts
The cost of any unused holiday entiuement 1$ rectraTh$ed in the period in vthich the employee's services
are ￿Ceived.
Temiinalion benefi15 are recognised immediatety as an expense Nthen the charity is demonstrably
committed to leinwnate the employment of an employee orto provide tem)inab"on beneffts.
1.11 Rgtirem•nt ￿nefitS
Payments to defined contribLrtion retirement benefft schemes are charged a$ an expense as they f811 due.
1.12 Lease5
Rentsls p8yable under operating leases. induding any lease ￿centiveS received. are charged a$ an
expense a straight line basis over the lemi of the ￿levant lea9e.
14-

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DEGEMBER 2020
Accounvng policlos
Icontlnuedl
1.13 Gov•mment grants
Government grants are recognised at the fair of the asset received or receivable %then there is
reasonable assurance that the grant ¢ondth"ons wll be met and the grants ￿11 be received.
A grant th* spe¢rfies pert0mlan￿ ¢ondrfion$ is recognised in income when the perfoman¢e condiliong
re mel. There a grant does not specify perlorniance conditions it is recogni5ed in income vknen the
proceeds are received or receivable. A grant received befo￿ the recognition criteria are satisfied is
re¢e4Jnised as a liability.
Crftlcal accountlng estlmates and judgements
In the application of the ch8rit*s accounting policies, the trustees required to make judgements,
estimates and assumptions about Ihe caryying amount of assels and lia￿11￿eS that are not readily apparent
from other sources. The estimates and assooated assumptions a￿ based on historical expefjen¢e and
Dther factor# that Ère considered to be relevant. Actual results rnay drfer from these estimate5.
The esb"males and underfying assumpb'ons are reviewed on an O￿oIng basis. Rewsions its accounting
estimates are recognised in the perithy in which the estimate is revised ￿ere the revision affects only that
period, or in the period of the reM5ion and future periods ￿ere the revision affect5 both cu￿ent and fijture
periods.
Donatlons and legacies
Unrestricted Restricted
funds
funds
Total Unrestricted Restricted
fvnds
fvnds
Total
2020
2020
2020
2019
2019
2019
Donations and grft$
Grant income
Membership fees
4,820
32,905
12.340
33,634
3.610
3.610
13.590
7.777
729
5,865
13,5gJ
7,7TT
14.114
37.725
51.839
11.387
13,590
24,977
Donations and gifts
Other
7,520
4.820
12.340
3.610
3,610
7.520
4.820
12.340
3,610
3,610
Grants receivable for
ore activilies
Other
729
32,905
33.634
13.590
13.590
729
32.905
33.634
13.590
13,590
15-

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Charltsble actlvldes
2020
2Q19
LegalActffon Magazi￿ $ale5
Book sales
Course$ income
146,027
307.997
33.150
157,435
363,963
73,294
487.174
594.692
Invostm8nts
Unre$trlcted
funds
2020
2019
Interest receivab
Ralsing funds
Unrestrlcted Unrestricted
lund$
funiys
2020
2019
an
Other fundraising costs
430
738
430
738
16-

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2020
Charitable activities
PublICa￿0Th
Pollcy &
& courses educatlonal
Tatsl Publl¢atlon
Poll¢y &
2020 & courses educatlonal
work
2019
Total
2019
2020
2020
2019
Staff costs
Depreciation
Other direct costs
191,017
2.952
1,495
15,356
193.969
1.495
221.068
176.653
619
1,020
37,826
177,272
1,020
283,088
205,712
245.262
396.729
19,803
416,532
421,915
39,465
461,380
Shale of support costs
l$ee note 81
Share of governance costs
l$ee note 81
22.939
9.587
32,526
40,619
7.376
47,995
56.814
56.814
53.887
53,887
476.482
29.390
505.872
516,421
46.841
563,262
Analy515 by fund
Unre5tncted lunds
Restricted funds
476.482
10.602
18.788
487.084
18,788
516.421
8,396
38,445
524,817
38,445
476,482
29,390
505.872
516,421
46,841
563.262
17-

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2020
Support costs
Support Govemance
costs
2020
Support Govemance
costs
sts
2019
Staff co$1$
Office costs
Telephone
Postage and $tglionery
Cpmputer supp(Ht costs
Bank charges
Sundry expenses
Membership costs
Bad debt write off
49.164
49,164
7,876
455
767
3.390
1.6TT
12.991
1.036
4,334
46,109
46,109
20,900
697
589
3,467
2.524
17.201
1.883
734
7.876
455
767
3,390
1.677
12.991
1.036
4.334
20.900
697
589
3,467
2,524
17.201
1.883
734
Audit fee$
Co81 of meetings
7.650
7.650
7.700
78
7.700
78
32.526
56.814
89,340
47,995
53,887
101,882
Analy$e<l betsveen
Charitable activib.es
32,526
56,814
89.340
47.995
53,887
101.882
Govemance costs indudes payments to the ￿dittits of £7.650 (2019- £7.700) for au¢Jit lees.
Trustses
None of the trustees lor any persons ￿nnected them) recaved any remuneralion or benefits from the
c*arity during the ye8r.
18-

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
10 Employe8S
Numbgr ol employees
The average monlhly number of em￿OyeeS during the year was."
2020
Number
2019
Number
Adminislryalion
Publishing
EdilorAI
Employrngnt costs
2020
2019
Wages and salaries
Sooal security costs
¢)her pension costs
211,108
17,494
14,531
193.660
16.283
13.438
243,133
223.381
There were no employees I￿ose annual remuneration was £60,000 or more.
11 Tangible fixed assets
FlxiuTrg andflttlng8
Cost
Al 1 January 2020
Additions
Disp05a15
9,020
2,825
15,0001
At 31 December 2020
6,845
Oepreciation and impaimient
At 1 January 2020
Depreciation charged in the year
Eliminated in respect of disposa
7,804
1.495
15.000
At 31 December 2020
4,299
Carrying amounl
At 31 December 2020
2,546
Al 31 December 2019
1.216
19-

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
12 Stocks
2020
2019
Finished goods and goods lor resale
62.561
83.686
13 Debto
2020
2019
Amourts falling due ¥4rythin one year.
Trade debtor5
Other debtors
Prepayments and aCcn￿d income
85,839
257
12.944
98,966
10,809
16,075
99,040
125.850
14 Loans and overdrafts
2020
2019
Bank loans
50.000
Payable after one year
50,000
15 Credltors.. amowts falling duo within ong year
2020
2019
Nots$
Other tsxation and gxial security
Deferred income
Trade cred¢tors
Accruals
8.388
52.186
30.019
22.708
5.544
57.158
50.337
39,108
17
113.301
152.147
16 Creditors.. amounts falllng due after more than one year
2020
2019
Noles
Bank loans
Deferred inwme
14
17
50.000
1,287
4,117
51.287
4.117
-20-

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
17 Deferred Sncome
2020
2019
Arising from deferred membership
subscnptr.ons and course fees
53.473
61.275
Deferred income is incfuded in the finanaal statements as fouows..
2020
2019
Current liabil￿e5
N0n-¢Ur￿nt liabililies
52.186
1.287
57,158
4,117
53,473
61,275
21

(T• O
IXtJj￿ffOO
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> ol

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
19 Analysis of net ass8ts b•￿¢¢n funds
Unr•$trlet•d R¢strl¢l*d
funds
funds
2020
2020
Totsl Un￿stn.¢ted Restricted
luThJs
2019
Total
2020
2019
2019
Fund balanees al 31
December 2020 are
represented by..
Tangible assets
Current assetsl
2,546
1,216
1.216
157,354
151.287)
32.010
157,354
151.28n
63,391
{4,11n
15.399
78.790
(4.1171
Long temi lialxlikn"e$
108,613
32,010
108.613
60.490
15,399
75,889
20 Oper4tlng lease Commitments
At the reporting end date the charity had outstan￿n9 ¢ommilMts for fvture minirrwm lease payments
under noTrFcancellaLle OFeraiing leases. ￿1¢h fall due as folows..
2020
2019
Within one year
1,833
21 Legal ststus of th• charlty
The charity is a company limited by guarantee and has no Sha￿ ¢afftl. The liatslty of Each member in the
event of wndin9 up is limited to £1.
22 Relatsd party transa¢tion$
Romungration of k•y m•nagemont por50nng1
The remuneration of key management person￿1 is a5 follThvs.
2020
2019
Aggregate compensation
102,030
89,617
-24-

L.A.G. EDUCATION AND SERVICE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
23 Cash generated from operatlons
2020
2019
Surplus for the year
32.724
55,669
Adjustments for.
Investment income recognised in stalemenl of financrdl aclivrUe5
Oepreciatron and impairment of tangible ffixed assets
113)
1.495
1.020
moVe￿￿nts in wothng capital..
Decreasellincreasel in stocks
DecreaSel{ift￿8seI in debtors
(Decrease)￿nerea$e in creditors
IDecreasel in deferred income
21,125
26,810
133,8741
17.8021
{19.9931
{38,0811
6.114
{17,1871
Cagh generated fromllabsortjed by) operations
40.465
(12,4581
24 Analysig of Changes in net funds
At1 Januiry
2020
Catsh Iltr￿ At J1 O¢eemb¢r
2020
Cash at bank and in hand
21.401
87.653
109.054
Loang falling due after more than one year
150,000)
150.0001
21.401
37.653
59,054
25-