| Page | |
|---|---|
| Report ofthe Trustees | 1to7 |
| Report ofthe Independent Auditors |
Bto10 |
| Statement of Financial Activities |
|
| Balance Sheet | 12to 13 |
| Cash Flow Statement | 14 |
| Notes to the Cash Flow Statement | 15 |
| Notes to the Financial Statements | 16to 28 |
| Detailed Statement ofFinancial Activities | 29to31 |
| FOR THE YEAR | EN | DED 3 | 1jULY | 2021 | ||||
|---|---|---|---|---|---|---|---|---|
| 31.7.21 | 31.7.20 | |||||||
| Unrestricted | Restricted | Designated | Total | Total | ||||
| fund | funds | fund | funds | funds | ||||
| Notes | E | E | E | E | E | |||
| INCOME AND | ||||||||
| ENDOWMENTS | FROM | |||||||
| Donations and |
legacies | 2 | 16,470 | 48,124 | 64,594 | 93,925 | ||
| Charitable income |
3 | 2,044,482 | 16,547 | 2,061,029 | 1,482,213 | |||
| Investment income |
4 | 125 | 125 | 1,645 | ||||
| Furlough grant |
received | 25,434 | ||||||
| Total | 2,061,077 | 64,671 | 2,125,748 | 1,603,217 | ||||
| EXPENDITURE ON | ||||||||
| Charitable activities |
||||||||
| Charitable | ~2732 08~ | ~55853 | 1787001 | ~1523338 | ||||
| NET INCOME / | ||||||||
| (EXPENDITURE) | 329,032 | 8,815 | 337,847 | 79,879 | ||||
| Transfers between | funds | (170,400) | 1703400 | |||||
| Net movement | in | funds | 158,632 | 8,815 | 170,400 | 337,&47 | 79,879 | |
| RECONCILIATION | OF | |||||||
| FUNDS | ||||||||
| Total funds brought | ||||||||
| forward | 2,711,696 | 34,694 | 340,718 | 3,087,108 | 3,007,229 | |||
| TOTAL FUNDS CARRIED | ||||||||
| FORWARD | 2,870,328 | 43,509 | 511,118 | 3,424,955 | 3,087,108 |
| BALANCE SHEET AT31JULY2021 |
||||||
|---|---|---|---|---|---|---|
| 31.7.21 | 31.7.20 | |||||
| Unrestricted | Restricted | Designated | Total | Total | ||
| fund | funds | fund | funds | funds | ||
| Notes | E | E | E | E | f | |
| FIXEDASSETS | ||||||
| Tangible assets | 12 | 4,285,810 | 34,694 | 340,718 | 4,661,222 | 4,655,668 |
| Investments | 13 | 4,639 | 4,639 | 4,759 | ||
| 4,290,449 | 34,694 | 340,718 | 4,665,861 | 4,660,427 | ||
| CURRENT ASSETS | ||||||
| Debtors | 14 | 64,917 | 64,917 | 13,489 | ||
| Cash at bank and in hand | (167,746) | 8,815 | 170,400 | 11,469 | 6,893 | |
| (102,829) | 8,815 | 170,400 | 76,386 | 20,382 | ||
| CREDITORS | ||||||
| Amounts falling due within |
||||||
| one year | 15 | (167,386) | (167,386) | (382,590) | ||
| NET CURRENT | ||||||
| ASSETS/(LIABILITIES) | (270,215) | 8,815 | 170,400 | (91,000) | (362,208) | |
| TOTAL ASSETS LESS | ||||||
| CURRENT LIABILITIES | 4,020,234 | 43,509 | 511,118 | 4,574,861 | 4,298,219 | |
| CREDITORS | ||||||
| Amounts falling due after |
||||||
| more than one year | 16 | (1,149,906) | (1,149,906) | (1,211,111) | ||
| NET ASSETS | 2,870,328 | 43,509 | 511,118 | 3,424,955 | 3,087,108 |
| FOR THE YEAR ENDED 31 | JULY 2021 | ||||
|---|---|---|---|---|---|
| 31.7.21 | 31.7.20 | ||||
| Notes | E | ||||
| Cash flows from operating | activities: | ||||
| Cash generated from operations |
440,359 | 195,282 | |||
| Interest paid | (81,878) | (77,741) | |||
| Net cash provided by (used In) operating |
|||||
| activities | 358,481 | 117,541 | |||
| Cash flows from investing | activities: | ||||
| Interest received | 3 | 17 | |||
| Payments to acquire tangible fixed assets | (14,832) | ||||
| Net cash provided by (used In) Investing |
|||||
| activities | (14,829) | 17 | |||
| Cash flows from financing | activities: | ||||
| Loan repayments in year |
(58,190) | (62,327) | |||
| Net cash provided by (used in) financing |
|||||
| activities | (58,190) | (62,327) | |||
| Change In cash and cash equivalents | in | ||||
| the reporting period |
285,462 | 55,231 | |||
| Cash and cash equivalents | at the | ||||
| beginning ofthe reporting | period | (273,993) | (329,224) | ||
| Cash and cash equivalents | atthe end | of | |||
| the reporting period |
11,469 | (273,993) |
| FOR | THE YEAR ENDED 3 | 1JULY2021 | 1JULY2021 | 1JULY2021 | 1JULY2021 | 1JULY2021 | 1JULY2021 | ||
|---|---|---|---|---|---|---|---|---|---|
| 1. | RECONCILIATION | OF NET INCOME/(EXPENDITURE) | TO NET CASH FLOW FROM | OPERATING | |||||
| ACTIVITIES | |||||||||
| 31.7.21 | 31.7.20 | ||||||||
| E | |||||||||
| Net income/(expenditure) for the reporting |
period | (as per | |||||||
| the statement of |
finandal activities) |
337,847 | 79,879 | ||||||
| Adjustments for: |
|||||||||
| Depreciation charges |
8,993 | 6,737 | |||||||
| Loss on disposal of | fixed assets | 285 | |||||||
| Gain/(loss) on fixed |
asset investments | 120 | (1,628) | ||||||
| Interest received | (3) | (17) | |||||||
| Interest paid | 81,878 | 77,741 | |||||||
| (Increase)/decrease | in debtors | (2,287) | 61,523 | ||||||
| Increase/(decrease) | in creditors | 13,526 | (28,953) | ||||||
| Net cash provided | by (used in) operating | activities | 440,359 | 195,282 | |||||
| 2. | ANALYSIS OF CASH | AND CASH EQUIVALENTS | |||||||
| 31.7.21 | 31.7.20 | ||||||||
| E | E | ||||||||
| Cash in hand | 4,003 | 4,342 | |||||||
| Notice deposits (less | than 3months) | 7,466 | 2,551 | ||||||
| Overdrafts included |
in bank loans and overdrafts | falling due | |||||||
| within one year | (280,886) | ||||||||
| Total cash and cash | equivalents | 11,469 | (273,993) |
| FOR 6. |
THE YEAR ENDED 31JU SUPPORT COSTS |
L | Y 202 | 1 | ||||
|---|---|---|---|---|---|---|---|---|
| Governance | ||||||||
| Management | Finance | costs | Totals | |||||
| E | F. | E | E | |||||
| Charitable | 415,423 | 91,035 | 34,382 | 540,840 | ||||
| Support costs, included | in the above, are as | follows: | ||||||
| 31.7.21 | 31.7.20 | |||||||
| Total | ||||||||
| Charitable | activities | |||||||
| E | f | |||||||
| Wages and salaries | 378,897 | 490,248 | ||||||
| Social security | 36,526 | 44,826 | ||||||
| Bank and credit card charges | 9,157 | 14,297 | ||||||
| Interest payable and similar charges |
81,878 | 77,741 | ||||||
| Auditors' remuneration |
3,850 | 3,850 | ||||||
| Legal and professional | fees | 30,532 | 24,077 | |||||
| 540,&40 | 655,039 | |||||||
| 7. | NET INCOME/(EXPENDITURE) | |||||||
| Net income/(expenditure) | is | stated after charging/(crediting): | ||||||
| 31.7.21 | 31.7.20 | |||||||
| E | ||||||||
| Depreciation -owned |
assets | 8,993 | 6,737 | |||||
| Loss on sale oftangible | fixed | assets | 285 | |||||
| Loss on fair value movement | ofinvestments | 120 | (1,628) | |||||
| 9,398 | 5,109 | |||||||
| 8. | AUDITOR'5 REMUNERATION | |||||||
| Net income/(expenditure) | is | stated after charging/(crediting): | ||||||
| 31721 | 31.7.20 | |||||||
| E | E | |||||||
| Fees payable to the charity's | auditor forthe | audit ofthe | ||||||
| charity's annual accounts |
3,850 | 3,850 | ||||||
| Fees payable for the charity's | auditor for other services: | |||||||
| Preparation ofannual |
accounts. | 4,650 | 4,650 | |||||
| 8,500 | 8,500 |
| 31.7.20 | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Designated | Total | |||
| fund | funds | fund | funds | |||
| E | E | E | E | |||
| INCOME AND | ||||||
| ENDOWMENTS | FROM | |||||
| Donations and |
legacies | 76,560 | 17,365 | 93,925 | ||
| Charitable activities |
||||||
| Charitable | 1,477,171 | 5,042 | 1,482,213 | |||
| Investment income |
1,645 | 1,645 | ||||
| Furlough grant |
received | 25,434 | 25,434 | |||
| Total | 1,580,$10 | 22,407 | 1,603,217 | |||
| EXPENDITURE | ON | |||||
| Charitable activities |
||||||
| Charitable | (1500p404) | (22p934) | (1,523,33$) | |||
| NET INCOME/(EXPENDITURE) | ||||||
| Transfers between | funds | 80,406 | (527) | 79,879 | ||
| Net movement | in funds | 80,406 | (527) | 79,879 | ||
| RECONCILIATION OF |
||||||
| FUNDS | ||||||
| Total funds brought | forward | 2,631,290 | 35,221 | 340,718 | 3,007,229 | |
| TOTAL FUNDS | CARRIED FORWARD | 2,711,696 | g4,694 | 340,7183,0$7,10$ |
| FOR | THE YEAR ENDED $1JULY | 20 | 21 | ||||
|---|---|---|---|---|---|---|---|
| 12. | TANGIBLE FIXEDASSETS | ||||||
| Freehold | Motor | Computer | Leasehold | ||||
| property | vehicles | equipment | Improvements | Totals | |||
| 6 | E | E | E | ||||
| COST | |||||||
| At 1August 2020 | 5,410,525 | 81,8$0 | 46,617 | $8,017 | 5,576,989 | ||
| Additions | 1$,450 | 1,382 | 14,832 | ||||
| Disposals | ~6320 | ~5520 | |||||
| 41311 IY2021 | ~ | 41052~ | 88930 | 47999 | 38017 | ~ ~85501 | |
| DEPRECIATION | |||||||
| At 1August 2020 | 816,953 | 69,623 | $4,745 | 921,321 | |||
| Depreciation | |||||||
| eliminated on disposal Charge for year |
(6,0$5) ~6343 |
~650 | (6,0$5) ~899$ |
||||
| At 31July 2021 | ~81 95$ | ~699$1 | ~$7$95 | ~242279 | |||
| NET BOOK VALUE | |||||||
| At 31July 2021 | ~~72 | 3L()17 | ~g~22 | ||||
| At 31July 2020 | ~~ll | ||||||
| 13. | FIXEDASSET INVESTMENTS | ||||||
| Unlisted | |||||||
| investments | |||||||
| MARKET VALUE | |||||||
| At 1August 2020 | 4,759 | ||||||
| (Loss)/gain on investment |
~120 | ||||||
| At 31July 2021 |
| 14. | DEBTORS:AMOUNTS | DEBTORS:AMOUNTS | FALLING DUE WITHIN ONE YEAR | FALLING DUE WITHIN ONE YEAR | FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|---|---|---|
| 31.7.21 | 31.7.20 | ||||||
| f | |||||||
| Trade debtors | 64,917 | 4,407 | |||||
| Other debtors | 6,276 | ||||||
| Prepayments | and accrued | income | 2,806 | ||||
| 64,917 | 13,489 | ||||||
| 15. | CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | |||||
| 31.7.21 | 31.7.20 | ||||||
| f | f | ||||||
| Bank loans and overdrafts | (see note 16) | 58,190 | 336,061 | ||||
| Trade creditors | 47,041 | 6,770 | |||||
| Other creditors | 49,141 | 28,666 | |||||
| Accruals | 13,014 | 11,093 | |||||
| 167386 | 382590 |
| 31.7.21 | 31.7.20 | |||||
|---|---|---|---|---|---|---|
| f | f | |||||
| Bank | loans | (see | note | 16) | 1,149,906 | 1,211,111 |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED | NOTES TO THE FINANCIAL STATEMENTS - CONTINUED | NOTES TO THE FINANCIAL STATEMENTS - CONTINUED | ||
|---|---|---|---|---|
| FOR | THE YEAR ENDED 31JULY2021 | |||
| 17. | LOANS | |||
| An analysis ofthe maturity ofloans is given below: | ||||
| 31.7.21 | 31.7.20 | |||
| E | ||||
| Amounts falling due within one year on |
demand: | |||
| Bank overdraft | 280,886 | |||
| Bank loans | 58,190 | 55,175 | ||
| 58190 | 336061 | |||
| Amounts falling due between two and five years: |
||||
| Bank loans - 2-5 years | 232,761 | 220,699 | ||
| Amounts falling due in more than five years: |
||||
| Repayable by instalments: |
||||
| Bank loans more 5 yr by instal | 917,145 | 990,412 | ||
| 18. | SECURED DEBTS | |||
| The following secured debts are included | within creditors: | |||
| 31.7.21 | 31.7.20 | |||
| E | E | |||
| Bank overdraft | 280,886 | |||
| Bankloans | 1,208,096 | 1,266,286 | ||
| 1,208,096 | 1,547,172 |
| MOVEMENT IN FUNDS | ||||||
|---|---|---|---|---|---|---|
| Net | Transfers | |||||
| movement | between | |||||
| At 1.8.20 | in funds | funds | At 31.7.21 | |||
| E | E | E | ||||
| Unrestricted funds |
||||||
| General Fund |
2,711,696 | $29,032 | (170,400) | 2,870,328 | ||
| Restricted funds | ||||||
| LSIS PRD Fund | $,4$7 | $,437 | ||||
| EFA Capital Fund | 6,019 | 999 | 7,018 | |||
| EFAStudent Financial Support |
Fund | 21,751 | 3,828 | 25,579 | ||
| Thomas Baily Fund |
3,487 | (3,487) | ||||
| EFA Tuition Fund |
||||||
| DFC Capital Fund | 3,894 | 3,894 | ||||
| Covid 19Testing Fund | ||||||
| EFA Other Funding | 3,581 | 3,581 | ||||
| 34,694 | 8,815 | 43,509 | ||||
| Designated Funds |
340,718 | 1707400 | 5117118 | |||
| TOTAL FUNDS | 5,007,108 | 307,047 | - | 5,424,558 | ||
| Net movement in funds, included |
in the above are as | follows: | ||||
| Incoming | Resources | Movement | ||||
| resources | expended | In funds | ||||
| E | E | E | ||||
| Unrestricted funds |
||||||
| General Fund |
2,061,077 | (1,7$2,045) | $29,0$2 | |||
| Restricted funds | ||||||
| EFA Capital Fund | 22,719 | (21,720) | 999 | |||
| EFA Student Financial Support |
Fund | 5,147 | (1,319) | 3,828 | ||
| Thomas Baily Fund |
($,487) | ($,487) | ||||
| EFA Tuition Fund |
11,400 | (11,400) | ||||
| DFC Capital Fund | 5,924 | (2,030) | $,894 | |||
| Covid 19Testing Fund | 15,900 | (15,900) | ||||
| EFA Other Funding | $,581 | $,581 | ||||
| 64,671 | (55,856) | 8,815 | ||||
| Designated Funds |
||||||
| TOTAL FUNDS | 2,125,740 | (2,707,002) | $37,047 |
| Net | Transfers | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| movement | between | |||||||||
| At 1.8.19 | in funds | funds | At | 31.7.20 | ||||||
| E | E | E | E | |||||||
| Unrestricted | Funds | |||||||||
| General fund | 2,631,290 | 80,406 | 2,711,696 | |||||||
| Restricted | Funds | |||||||||
| LSIS PRD Fund | 3,437 | 3,437 | ||||||||
| EFA Capital | Fund | 14,208 | (8,189) | 6,019 | ||||||
| EFA Student | Financial Support | Fund | 16,709 | 5,042 | 21,751 | |||||
| Thomas Baily Fund |
867 | 2,620 | 3,487 | |||||||
| Poly Tunnel | Fund | |||||||||
| 35,221 | (527) | 34,694 | ||||||||
| Designated | Funds | 340,718 | 340,718 | |||||||
| TOTAL FUNDS | 3,007,229 | 79,879 | 3,087,108 | |||||||
| Comparative | net movement | in | funds, | included | in the | above are as | follows: | |||
| Incoming | Resources | Movement | ||||||||
| resources | expended | in funds | ||||||||
| E | E | |||||||||
| UnrestrIcted | funds | |||||||||
| General fund | 1,580,810 | (1,500,404) | 80,406 | |||||||
| Restricted funds | ||||||||||
| EFA Capital | Fund | 13,365 | (21,554) | (8,189) | ||||||
| EFA Student | Financial Support | Fund | 5,042 | 5,042 | ||||||
| Thomas Baily Fund | 3,000 | (380) | 2,620 | |||||||
| Poly Tunnel | Fund | 1,000 | (1,000) | |||||||
| 22,407 | (22,934) | (527) | ||||||||
| Designated | Funds | |||||||||
| TOTAL FUNDS | 1,603,217 | 1,523,338 | 79,879 |
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31JULY2021 |
||
|---|---|---|
| 31.7.21 | 31.7.20 | |
| E | E | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations and appeals |
1.189 | 1,542 |
| Sundry income | 63405 | 92,383 |
| 64.594 | 93,925 | |
| Investment income |
||
| Dividends receivable |
122 | |
| Interest receivable | 3 | 17 |
| Gain on fixed asset investment | 1,628 | |
| 125 | 1,645 | |
| Charitable activities |
||
| Fees | 2,059,970 | 1,477,171 |
| RDA income | 1,059 | 5,042 |
| 2,061,029 | 1,482,213 | |
| Furlough grant received |
25,434 | |
| Total Incoming resources | 2,125,748 | 1,603,217 |
| EXPENDITURE | ||
| Charitable activities |
||
| Wages | 649,963 | 401,101 |
| Social security | 36,164 | 24,105 |
| Pensions | 36,704 | 31,625 |
| Insurance | 29,116 | 27,665 |
| Light and heat | 68,658 | 74,775 |
| ILTexpenses | 67,316 | 63,316 |
| Household expenses |
28,027 | 20,054 |
| Student education and training expenses |
49,608 | 64,300 |
| Co-workers expenses | 12,639 | |
| Carried forward | 965,556 | 719,580 |
| 31.7.21 | 31.7.20 | ||
|---|---|---|---|
| E | E | ||
| Charitable activities |
|||
| Brought forward | 965,556 | 719,580 | |
| Repairs and renewals | 119,$16 | 32,243 | |
| Office expenses | 20,145 | 18,323 | |
| Student support expenses | 8,884 | 15,262 | |
| Motor and travel expenses | 12,846 | 13,974 | |
| Food | 15,514 | 21,915 | |
| Organisational expenses |
11,595 | 14,873 | |
| HR costs | 74,410 | 19,272 | |
| Rent | 3,120 | 6,120 | |
| Motor vehicles depreciation | 6,$4$ | 4,069 | |
| Computer equipment |
depreciation | 2,650 | 2,668 |
| Loss on fixed asset investments | 120 | ||
| Loss on sale offixed assets | 285 | ||
| Bad debts | 6,277 | ||
| 1,247,061 | 868,299 | ||
| Support costs | |||
| Management | |||
| Wages and salaries | 378,897 | 490,248 | |
| Social security | 36,526 | 44,826 | |
| 415,423 | 535,074 | ||
| Finance | |||
| Bank and credit card | charges | 9,157 | 14,297 |
| Bank interest payable | 81,878 | 77,741 | |
| 91,035 | 92,038 | ||
| Governance costs |
|||
| Auditors' remuneration |
3,850 | 3,850 | |
| Legal and professional | fees | 30,532 | 24,077 |
| 34,382 | 27,927 | ||
| Total resources expended | 1,787,901 | 1,523,338 |