#
##
|Report ofthe Trustees|1 to|9|
|---|---|---|
|Report ofthe Independent
Auditors|10 to|13|
|Statement ofFinancial Activities|14||
|Balance Sheet|15 to|16|
|Cash Flow Statement|17||
|Notes tothe Cash Flow Statement|18 to|19|
|Notes tothe Finandal Statements|20 to|35|
|Detailed Statement ofFinancial Activities|36 to|37|
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||||||||31.7.23|31.7.22|
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Designated|Total|Total|
|||||funds|funds|funds|funds|funds|
||||Notes|E|E|E|E|f|
|INCOME AND|||||||||
|ENDOWMENTS
FROM|||||||||
|Donations|and legacies||2|26,620|||26,620|6,367|
|Charitable|activities||||||||
|Charitable||||$,909,878|64,26$||$,974,141|2,609,608|
|Investment|income|||14|||14|82|
|Total||||$,9$6,512|64,26$||4,000,775|2,616,057|
|EXPENDITURE ON|||||||||
|Charitable|activities||||||||
|CharItable||||3,960,819|||$,960,819|2,200,725|
|NET|||||||||
|INCOME/(EXPENDITURE)||||(24,$07)|64,263||$9,956|415,332|
|Transfers|between|funds|19|511,118||(511,118)|||
|Net movement
In funds||||486,811|64,263|(511,118)|39,956|415,332|
|RECONCILIAllON
OF FUNDS|||||||||
|Total funds|brought|forward||3,281,448|47,721|511,118|3,840,287|3,424,955|
|TOTAL FUNDS CARRIED|||||||||
|FORWARD||||3,768,259|111,984||3,880,2433,840,287||
##
##
||||||31-7.23|31.7.22|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Designated|Total|Total|
|||funds|funds|funds|funds|funds|
||Notes||E|f|E|E|
|FIXEDASSETS|||||||
|Tangible assets|12|4,804,652|||4,804,6S2|4,623,099|
|Investments|13|1,731|||1,731|3,199|
|||4,806,$83|||4,806,383|4,626 298|
|CURRENT ASSETS|||||||
|Debtors|14|607,499|||607,499|66,967|
|Cash at bank and in hand||11,364|||11,$64|365,816|
|||818,86$|||618,863|432,783|
|CREDITORS|||||||
|Amounts
falling due within|||||||
|one year|15|(645,222)|111,984||(533,2$8)|(135,931)|
|NET CURRENT ASSETS||(26,$59)|111,984||85,625|296,852|
|TOTAL ASSETS LESS|||||||
|CURRENT LIABILITIES||4,780,024|111,984||4,892,008|4,923,150|
|CREDITORS|||||||
|Amounts
falling due after|||||||
|more then one year|16|(1,011,765)|||(1,011,765)|(1,082,863)|
|NET ASSETS||S,768,259|111,984||3,880,243|3,840,287|
|FUNDS|||||||
|Unrestricted
funds|||||3,768,259|3,281,448|
|Restricted funds|||||111,984|47,721|
|Designated
funds||||||511,118|
|TOTAL FUNDS|||||R,SSD,243|3,84D,287|
##
|FOR THE YEAR ENDED 31|JULY 2023|||||
|---|---|---|---|---|---|
|||||31.7.23|31.7.22|
|||Notes||E|E|
|Cash flows from operating|activities|||||
|Cash generated
from operations|||1|(134,265)|463,324|
|Interest
paid||||(73,211)|(77,452)|
|Net cash (used in)/provided|by operating||activities|(207,476)|385,872|
|Cash flows from investing|activities|||||
|Purchase oftangible
fixed|assets|||(191,454)|(8,329)|
|Sale oftangible fixed assets|||||39,419|
|Interest
received|||||1|
|Net cash (used in)/provided|by investing||activities|(191,440)|31,091|
|Cash flows from financing|activities|||||
|Loan repayments
in year||||(66,857)|(62,616)|
|Net cash used in financing|activities|||(66,857)|(62,616)|
|Change
In cash and cash equivalents||In||||
|the reporting period||||(465,773)|354,347|
|Cash and cash equivalents|at the|||||
|beginning
ofthe reporting|period||2|365,$16|11,469|
|Cash and cash equivalents|at the end|||||
|ofthe reporting
period||||(99,957)|365,816|
##
##
|NOT
FOR|ES TO THE CASH FLOW STATEMENT
THE YEAR ENDED 31JULY2023|ES TO THE CASH FLOW STATEMENT
THE YEAR ENDED 31JULY2023|ES TO THE CASH FLOW STATEMENT
THE YEAR ENDED 31JULY2023|ES TO THE CASH FLOW STATEMENT
THE YEAR ENDED 31JULY2023|ES TO THE CASH FLOW STATEMENT
THE YEAR ENDED 31JULY2023||||
|---|---|---|---|---|---|---|---|---|
|1.|RECONCILIATION
OF NET INCOME TO NET CASH|||||FLOW FROM OPERATING|ACTIVITIES||
||||||||31.7.23|31.7.22|
|||||||||E|
||Net income for the|reporting|||period (asper the|Statement of|||
||Financial Activities)||||||39,956|415,332|
||Adjustments
for:||||||||
||Depreciation
charges||||||9,901|8,040|
||Profit on disposal of||fixed assets|||||(1,007)|
||Interest received||||||(14)|(1)|
||Interest paid||||||73,211|77,452|
||Loss on revaluation|ofassets|||||1,468|1,440|
||Increase
in debtors||||||(540,532)|(2,050)|
||Increase/(decrease)||in creditors||||281,745|(35,882)|
||Net cash (used in)/provided|||by operations|||(134,265)|463,324|
|2.|ANALYSIS OF CASH|ANO CASH|||EQUIVALENTS||||
||||||||31.7.23|31.7.22|
||||||||E|E|
||Cash In hand
Notice deposits (less||than 3months)||||11,364|3,371
362,445|
||Overdrafts
included|In bank loans and overdrafts||||falling due within|||
||one year||||||(111,321)||
||Total cash and cash equivalents||||||(99,957)|365,816|
##
##
||At 1/8/22
f|Cash flow
f|At $1/7/2$|
|---|---|---|---|
|Net cash||||
|Cash at bank and in hand|$65,816|(465,77$)|(99,957)|
||$65,816|(465,77$)|(99,957)|
|Debt||||
|Debts falling due within 1year|(62,616)|(4,241)|(66,857)|
|Debts falling due after 1year|(1,082,86$)|71,098|(1,011,765)|
||(1,145,479)|66,857|(1,078,622)|
|Total|(779,66$)|($98,916)|(1,178,579)|
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|DONATIONS|DONATIONS|AND LEGACIES|||
|---|---|---|---|---|
||||31.7.23|31.7.22|
||||E|E|
|Donations|and appeals||9,600|6,367|
|Sundry Income|||17,020||
||||26,620|6,367|
##
##
|INVESTM|ENT INCOME|||
|---|---|---|---|
|||31.7.23|31.7.22|
|||E|E|
|Dividends|receivable||81|
|Interest|receivable|14|1|
|||14|82|
##
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##
##
|INCO|ME FROM CHA|RITABLE ACTIVITIES|||
|---|---|---|---|---|
||||31.7.23|31.7.22|
|||Activity|E|E|
|Fees||Charitable|3,960,390|2,587,895|
|Other|income|Charitable|13,751|21,713|
||||3,924,141|2,609,608|
##
##
##
||Support||
|---|---|---|
|Direct|costs (see||
|Costs
f|note 6)|Totals|
|1,392,490|900.000|8.9$1,119|
##
##
|SUPPORT|COSTS|||||
|---|---|---|---|---|---|
|||||Governance||
|||Management|Finance|costs|Totals|
|||E|E|f|E|
|Charitable||409+15|77,786|81,158|568,389|
|Support costs, included||in the above, are as follows:||||
|||||31.7.23|31.7,22|
||||||Total|
|||||Charitable|activities|
|||||E|f|
|Wages and salaries||||374,654|501,623|
|Social security||||34,791|47,793|
|Bank and|credit card charges|||4,575|5,81S|
|Interest payable and similar charges||||73,211|77,452|
|Auditors'|remuneration|||13,800|122000|
|Auditors'|remuneration|for non audit||||
|work||||15,757|1,680|
|Legal and|professional|fees||51,601|19,450|
|||||568,389|665,813|
##
||||31.7.23|31.7.22|
|---|---|---|---|---|
||||E|f|
|Depreciation - owned|assets||9,901|8,040|
|Defldt on disposal of|fixed assets||1,468|433|
|AUDITORS' REMUNERATION|||||
||||31.7.23|31.7.22|
||||f|f|
|Fees payable tothe charity's||auditors for the audit ofthe charity's|||
|financial statements|||13,800|12,000|
|Auditors'
remuneration|for non audit work||15,757|1,680|
##
##
##
##
|STAFF COSTS||||||||
|---|---|---|---|---|---|---|---|
|||||||31.7.23|31.7.22|
|||||||f|f|
|Wages and salaries|||||1,960,115||1,165,597|
|Social security costs||||||170,211|92,615|
|Other pension costs||||||73,174|39,178|
||||||3.303,3$I||1,397,390|
|The average
monthly|number ofemployees||during the|year was|as follows:|||
|||||||SL7.23|31.7.22|
|Administration,
teaching and secretarial||||||85|56|
|The number
of employees
f60,000was:||whose employee|benefits|(excluding|employer|pension|costs) exceeded|
|||||||31.7.23|31.7.22|
|f60,001-f70,000||||||1||
##
##
##
|COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACllVITIES|COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACllVITIES|COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACllVITIES|COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACllVITIES|COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACllVITIES|COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACllVITIES|||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Designated|Total|
|||||fund|funds|fund|funds|
|||||E|E|E|f|
|INCOME AND ENDOWMENTS|||FROM|||||
|Donations|and legacies|||4,967|1,400||6,367|
|Charitable|activities|||||||
|Charitable||||2,558,460|51,148||2,609,608|
|Investment|income|||82|||82|
|Total||||2,563,509|52,548||2,616,057|
|EXPENDITURE ON||||||||
|Charitable|activities|||||||
|Charitable||||2,152,389|48,336||2,200,725|
|NET INCOME||||411,120|4,212||415,332|
|RECONCILIATION
OF FUNDS||||||||
|Total funds|brought|forward||2,870,328|43,509|511,118|3,424,955|
|TOTAL FUNDS CARRIED FORWARD||||3,281,448|47,721|511,118|3,840,287|
##
|FOR|THE YEAR ENDED 31JULY2|023||||
|---|---|---|---|---|---|
|12.|TANGIBLE FIXEDASSETS|||||
|||Freehold|Motor|Computer||
|||property|vehicles|equipment
f|Totals
f|
||COST|||||
||At 1August 2022|S,410,525|81,929|56,$28|5,548,782|
||Additions|143,426||48,028|191,454|
||At 31July 2023|5,553,951|81,929|104,356|5,740,236|
||DEPRECIATION|||||
||At 1August 2022|816,953|67,953|40,777|925,683|
||Charge for year||3,494|6,407|9,901|
||At 31July 2023|816,953|71~7|47,184|935,584|
||NET BOOK VALUE|||||
||At 31July 2023|4,736~|10~|57,172|4,804,652|
||At 31July 2022|4,593,572|13,976|15,551|4,623,999|
|13.|FIXEDASSET INVESTMENTS|||||
||||||Unlisted|
||||||investments|
||||||f|
||MARKET VALUE|||||
||At 1August 2022||||3,199|
||Revaluations||||(1,4681|
||At 31July 2023||||1,731|
||NET BOOK VALUE|||||
||At 31July 2023||||1,731|
||At 31July 2022||||3,199|
||There were no Investment|assets outside the UK.||||
##
##
|1$.|FIXEDASSET|INVESTMENTS - continued|INVESTMENTS - continued|INVESTMENTS - continued||||
|---|---|---|---|---|---|---|---|
||Cost or valuation||at31July 2023 isrepresented||by:|||
||||||||Unlisted|
||||||||investments|
||||||||E|
||Valuation
in 2023||||||1,7$1|
|14.|DEBTORS:AMOUNTS FAUJNG DUE WITHIN ONE YEAR|||||||
|||||||31.7.23|31.7.22|
|||||||f|f|
||Trade debtors|||||586,0$0|59,202|
||Prepayrnents|and|accrued income|||21,419|7,765|
|||||||607,499|66,967|
|15.|CREDITORS: AMOUNTS|||FAILING DUE WITHIN|ONE YEAR|||
|||||||31,7.23|31.7.22|
|||||||E|f|
||Bank loans and overdrafrs
(see note 17)|||||17$,178|62,616|
||Trade creditors|||||258,188|44,887|
||Social security|and|other|taxes||52,051||
||Other creditors|||||15,574|490|
||Accruals|||||29,247|27,938|
|||||||533,238|135,931|
|FOR|THE YEAR ENDED 31JULY|2023|2023|2023|||
|---|---|---|---|---|---|---|
|16.|CREDITORS: AMOUNIS|FALLING DUE AFTER MORE THAN ONE YEAR|||||
||||||31.7.23|31.7.22|
||||||E|E|
||Bank loans (see note 17)||||1,011,765|1,081,863|
|17.|LOANS||||||
||An analysis ofthe maturity||ofloans is given below:||||
||||||31.7.23|31.7.22|
||||||E|E|
||Amounts
falling due within||one year on|demand:|||
||Bank overdrafts||||111,321||
||Bankloans||||66,857|62,616|
||||||178,178|62,616|
||Amounts
falling due between two and five years:||||||
||Bank loans - 2-5 years||||267,428|250,465|
||Amounts
falling due in more than five years:||||||
||Repayable
by instalments:||||||
||Bank loans more 5yr by|Instal|||744,337|832,398|
|18.|SECURED DEBTS||||||
||The following secured debts||are included|within creditors:|||
||||||31.7.23|31.7.22|
||||||E|f|
||Bank overdrafts||||111,321||
||Bank loans||||1,078,622|1,145,479|
||||||1,189,943|1,145,479|
|FOR|THE YEAR END|ED 31JUL|ED 31JUL|Y2023|||||
|---|---|---|---|---|---|---|---|---|
|19.|MOVEMENT|IN FUNDS|||||||
|||||||Net|Transfers||
|||||||movement|between|At|
||||||At 1/8/22|In funds|funds|31/7/23|
||||||f.|E|E|E|
||Unrestricted|funds|||||||
||General fund||||3,281,448|(24,307)|511,118|3,768,259|
||Restricted funds||||||||
||ESFA Capital|Fund|||6,683|64,263||70,946|
||Other ESFA Income||||3,581|||S,S81|
||DFC Capital grant||||$7,186|||37,186|
||Mental health|Training||Fund|6|||6|
||ASDA Foundation||Grant||265|||265|
||||||47,721|64,263||111,984|
||Designated
Funds||||511,118||(511,118)||
||TOTALFUNDS||||3,840,287|39,956||3,880,24$|
||Net movement|in|funds,|included|in the above are as follows:||||
|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|||E|E|f|
|Unrestricted|funds||||
|General fund||3,936,512|(3,960,819)|(24,307)|
|Restricted funds|||||
|ESFACapital Fund||64,263||64,263|
|TOTALFUNDS||4,000 775|J0,90M197|09,950|
##
##
##
##
||||||Net||
|---|---|---|---|---|---|---|
||||||movement|At|
|||||At 1/8/21|in funds|31/7/22|
|||||f|f|f|
|Unrestricted
funds|||||||
|General fund||||2,870,328|411,120|3,281,448|
|RestrIcted funds|||||||
|LSIS PRD Fund||||3,437|(3,437)||
|ESFACapital
Fund||||7,018|(335)|6,683|
|Other ESFA Income||||3,581||3,581|
|DFC Capital grant||||3,894|33,292|37,186|
|ESFAStudent
Financial||Support|Fund|25,579|(25,579)||
|Mental health Training||Fund|||6|6|
|ASDA Foundation|Grant||||265|265|
|||||43,509|4,212|47,721|
|Designated
Funds||||511,118||511,118|
|TOTAL FUNDS||||3,424,955|415,332|3,840,287|
##
##
##
|||||Incoming|Resources|Movement|
|---|---|---|---|---|---|---|
|||||resources
f|expended
f|In funds
f|
|Unrestricted
I'unds|||||||
|General fund||||2,563,509|(2,152,389)|411,120|
|Restricted funds|||||||
|LSIS PRD Fund|||||(3,437)|(3,437)|
|ESFACapital Fund||||6,683|(7,018)|(335)|
|DFC Capital grant||||33,292||33,292|
|ESFAStudent
Financial||Support|Fund||(25,579)|(25,579)|
|Thomas
Bally Fund||||(300)|300||
|Mental health Training||Fund||1,200|(1,194)|6|
|ASDA Foundation|Grant|||500|(235)|265|
|ESFACovld Support||||11,173|(11,173)||
|||||52,548|(48,336)|4,212|
|TOTAL FUNDS||||2,616,057|[2.200.725I|415.332|
##
##
##
|||||||Net|Transfers||
|---|---|---|---|---|---|---|---|---|
|||||||movement|between|At|
||||||At 1/8/21|in funds|funds|31/7/23|
|||||||E||E|
|Unrestricted|funds||||||||
|General fund|||||2,870,328|386,813|511118|3768 259|
|Restricted funds|||||||||
|LSISPRD Fund|||||3,437|(3,437)|||
|ESFA Capital Fund|||||7,018|63,928||70I946|
|Other ESFA income|||||3,581|||3,581|
|DFC Capital grant|||||3,894|33,292||37,186|
|ESFAStudent|Financial||Support|Fund|25,579|(25,579)|||
|Mental health|Training||Fund|||6||6|
|ASDA Foundation||Grant||||265||265|
||||||43,509|68,475||111,984|
|Designated
Funds|||||511,118||(511,118)||
|TOTAL FUNDS|||||3,424,955|455,288||3,880,243|
##
|||||Incoming|Resources|Movement|
|---|---|---|---|---|---|---|
|||||resources|expended|in funds|
|||||||f|
|Unrestricted
funds|||||||
|General fund||||6,500,021|(6,113,208)|386,813|
|Restricted funds|||||||
|LSIS PRD Fund|||||(3,437)|(3,437)|
|ESFA Capital Fund||||70,946|(7,018)|63,928|
|DFC Capital grant||||33,292||33,292|
|ESFAStudent
Financial||Support|Fund||(25,579)|(25,579)|
|Thomas
Bally Fund||||(300)|300||
|Mental health Training||Fund||1,200|(1,194)|6|
|ASDA Foundation|Grant|||500|(235)|265|
|ESFA Covid Support||||11,173|(11,173)||
|||||116,811|(48,336)|68,475|
|TOTAL FUNDS||||6,616,852|I6,161,544I|455,288|
##
##
##
|DETAILED STATEMENT OF FINANCIAL ACTIVlhES
FOR THE YEAR ENDED 31JULY2023|||
|---|---|---|
||31.7.23|31.7.22|
||E|E|
|INCOME AND ENDOWMENTS|||
|Donations and legacies|||
|Donations
and appeals
Sundry income|9,600
17,020|6,367|
||26,620|6,367|
|Investment
Income|||
|Dividends
receivable||81|
|Interest receivable||1|
||14|82|
|Charitable
activities|||
|Fees
Other income|3,960,390
13,751|2,587,895
21,713|
||3,974,141|2,609,608|
|Total Incoming resources|4,000,775|2,616,057|
|EXPENDITURE|||
|Charitable
activities|||
|Wages
Social security
Pensions
Insurance
Light and heat
ILTexpenses
Household
expenses
student
education
and training expenses
Repairs and renewals
Office expenses
Student support expenses
Carried forward|1,585,461
135,420
73,174
38,096
157,313
194,157
39,961
119,072
144,679
70,463
120,12S
2,677,919|663,974
44,822
39,178
36,272
61,586
76,771
26,825
59,180
77,185
20,050
48,870
1,154,713|
##
##
|FOR THE YEAR END|ED|31JULY2023||||
|---|---|---|---|---|---|
|||||31.7.23|31.7.22|
|||||E|E|
|Charitable
activities||||||
|Brought forward||||2,677,919|1,154,713|
|Motor and travel expenses||||12,036|12,993|
|Food||||42,598|17,160|
|Organisational
expenses||||15,394|21,684|
|Donations||||120|1,905|
|HR costs||||147,658|66,661|
|Rent||||285|920|
|Agency staffing costs||||485,051|212,386|
|East Lodge costs|||||38,017|
|Motor vehicles depreciation||||$,494|4,659|
|Computer
equipment||depreciation||6,407|3,381|
|Loss on revaluation|of|fixed asset||||
|Investments||||1,468|1,440|
|Loss/(profit)
on sale|oftangible fixed assets||||(1,007)|
|||||$,392,430|1,534,912|
|Support costs||||||
|Management||||||
|Wages and salaries||||374,654|501,623|
|Social security||||34,791|47,793|
|||||409,445|549,416|
|Finance||||||
|Bank and credit card charges||||4,575|5,815|
|Bank interest payable||||7$,211|77,452|
|||||77,786|83,267|
|Governance costs||||||
|Auditors'
remuneration||||1$,800|12,000|
|Auditors'
remuneration||for non audit work||15,757|1,680|
|I.egal and professional||fees||51,601|19,450|
|||||81,158|33,130|
|Total resources expended||||3,960,819|2,200,725|
|Net income||||~9,956|415.332|
|This page does not form part ofthe statutory|||financial|statements||