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|||||||Page|
|---|---|---|---|---|---|---|
|Trustees'
report||||||1-4|
|Statement of|trustees'||responsibilities||||
|Independent|auditor's|report||||6-8|
|Consolidated|statement||offinancial||activities||
|Consolidated|statement||offinancial||position|10|
|Company
statement||offinancial||position|||
|Consolidated|statement||ofcash|flows||12|
|Notes to the|financial|statements||||13-25|
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||||Unrestricted|Unrestricted|Total|Unrestricted|Unrestricted|Total|
|---|---|---|---|---|---|---|---|---|
||||funds|funds||funds|funds||
||||general|designated||general|designated||
|||Notes|2020
f|2020f|2020
f|2019
F|2019
f|2019
f|
|Income from:|||||||||
|Donations
and legacies|||845,879||845,879||||
|Charitable
activities|||763,225||763,225|2,979,324||2,979,324|
|Investments|||1,068||1,068|5,219||5,219|
|Total income|||1,610,172||1,610,172|2,984,543||2,984,543|
|~E*
dlt|||||||||
|Charitable
activities|||||||||
|Charitable
activities||6|2,509,531||2,509,531|3,247,668||3,247,668|
|Grants payable||6|13,289||13,289|25,899||25,899|
|Total charitable|expenditure||2,522,820||2,522,820|3,273,567||3,273,567|
|Net expenditure|for the|year/|||||||
|Net movement|in funds||(912,648)||(912,648)|(289,024)||(289,024)|
|Fund balances|at 1||||||||
|January 2020|||7,229,448|46,427|7,275,875|7,518,472|46,427|7,564,899|
|Fund balances|at 31||||||||
|December 2020|||6,316,800|46,427|6,363,227|7,229,448|46,427|7,275,875|
##
##
||||2020|2019|
|---|---|---|---|---|
|||Notes|6|8|
|Fixed assets|||||
|Intangible assets||9|402,123|446,803|
|Tangible assets||10|7,747,192|7,791,848|
||||8,149,315|8,238,651|
|Current assets|||||
|Stocks||13|1,877|4,885|
|Debtors||14|113,447|448,163|
|Cash at bank and in|hand||192,027|534,002|
||||307,351|987,050|
|Creditors: amounts|falling due within|16|||
|one year|||(901,828)|(1,502,661)|
|Net current (liabilities)/assets|||(594,477)|(515,611)|
|Total assets less current liabilities|||7,554,838|7,723,040|
|Creditors: amounts|falling due after|18|||
|more than one year|||(1,191,611)|(447,165)|
|Net assets|||6,363,227|7,275,875|
|Income funds|||||
|Unrestricted
funds -|designated||46,427|46,427|
|General
unrestricted|funds||472,514|1,385,162|
|Revaluation
reserve|||5,844,286|5,844,286|
||||6,316,800|7,228,448|
|||20|6,363,227|7,275,875|
##
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|||||2020|2019||
|---|---|---|---|---|---|---|
||||Notes|f|8||
|Fixed assets|||||||
|Intangible|assets||9|402,123|||
|Tangible assets|||10|7,747,192||7,791,848|
|Investments|||11|201||245,961|
|||||8,149,516||8,037,809|
|Current assets|||||||
|Stocks|||13|1,877|4,885||
|Debtors|||14|113,447|384,486||
|Cash at bank and in||hand||192,027|511,609||
|||||307,351|900,980||
|Creditors:|amounts|falling due within|16||||
|one year||||(902,029)|(1,157,504)||
|Net current|(liabilities)/assets|||(594,678)||(256,524)|
|Total assets less current liabilities||||7,554,838||7,781,285|
|Creditors:|amounts|falling due after|18||||
|more than|one year|||(1,191,611)||(447,165)|
|Net assets||||6,363,227||7,334,120|
|Income funds|||||||
|Unrestricted|funds —designated|||46,427||46,427|
|General
unrestricted||funds||472,514|1,443,407||
|Revaluation|reserve|||5,844,286|5,844,286||
|||||6,316,800||7,287,693|
||||20|6,363,227||7,334,120|
##
##
||||||2020|2019|
|---|---|---|---|---|---|---|
|||||Notes|E|6|
|Cash flows from operating||activities|||||
|Cash generated
from/(absorbed|||by)|23|||
|operations|||||(1,029,134)|(92,464)|
|Investing|activities||||||
|Purchase|ofsubsidiaries|||||(1,191,830)|
|Interest received|||||1,068|5,219|
|Net cash (used in)/generated|||from||||
|investing|activities||||1,068|(1,186,611)|
|Financing|activities||||||
|Proceeds|of new bank loans||||705,600|505,520|
|Repayment|of bank loans||||(19,509)||
|Net cash generated
from/(used|||in)||||
|financing|activities||||686,091|505,520|
|Net decrease
in cash and||cash equivalents|||(341,975)|(773,555)|
|Cash and|cash equivalents|at beginning||ofyear|534,002|1,307,557|
|Cash and|cash equivalents|at end of||year|192,027|534,002|
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##
|||||Unrestricted|Total|
|---|---|---|---|---|---|
|||||funds||
|||||general||
|||||2020|2019|
|||||6|6|
|Grants receivable for core activities||||||
|Coronavirus|Job Retention||Scheme|744,379||
|Local Authority||Grants||101,500||
|||||845,879||
##
|||||Fee income|Ancillary
income|Rental Income|Total|Total
2019|
|---|---|---|---|---|---|---|---|---|
|||||2|||2|2|
|Income|within|charitable|activities|696,575|36,532|30,118|763,225|2,979,324|
##
##
|||Total|Total|
|---|---|---|---|
|||2020|2019|
|||E|E|
|Interest|receivable|1,068|5,219|
##
||||||Year ended|Period ended|
|---|---|---|---|---|---|---|
||||||31 December|31 December|
||||||2020|2019|
||||||E|E|
|Turnover||||||267,793|
|Direct costs||||||(187,185)|
|Gross profit||||||77,608|
|Administrative||expenses||||(157,755)|
|Loss before tax||||||(80,147)|
|Tax on profit/(loss)||||||21,903|
|Loss after tax||||||(58,244)|
|The aggregate||of|assets, liabilities|and funds was:|||
||||||2020|2019|
||||||E|E|
|Assets|||||301|542,419|
|Liabilities|||||(100)|(361,504)|
|Net assets|||||201|180,915|
|Represented|by:||||||
|Called up share capital|||||146|146|
|Capital redemption|||reserve||55|55|
|Profit and loss||reserves||||180,714|
|Total funds|||||201|180,915|
##
##
##
||||Charitable|Grants|Total|Total|
|---|---|---|---|---|---|---|
||||activities
E|payable
6|2020
E|2019
f|
|Teachers' Salaries|||966,925||966,925|1,257,006|
|Depreciation|and impairment||89,437||89,437|38,620|
|Educational|Materials||27,880||27,880|96,345|
|IT Costs|||93,141||93,141|105,250|
|Publicity|||59,152||59,152|170,127|
|Establishment|Expenses||167,563||167,563|433,096|
|Administrative|Expenses||980,480||980,480|1,030,685|
|Staff Courses ITraining|||5,381||5,381|16,961|
|Student Accommodation|||37,581||37,581|(865)|
|Financial Charges|||31,893||31,893|32,316|
|Grants||||13,289|13,289|25,899|
||||2,459,433|13,289|2,472,722|3,205,440|
|Share of governance||costs|50,098||50,098|68,127|
||||2,509,531|13,289|2,522,820|3,273,567|
##
##
|The average
monthly
number
ofemployees
durin|g the year was:||
|---|---|---|
||2020|2019|
||Number|Number|
|Teaching|45|47|
|Administration|35|30|
||80|77|
##
##
##
|Staff costs|||
|---|---|---|
|Employment
costs|2020|2019|
||E|E|
|Wages and salaries|1,610,180|1,849,137|
|Social security costs|134,877|161,180|
|Other pension costs|137,345|144,984|
||1,882,402|2,155,301|
|The number
of employees
whose annual
remunera
were:|tion
was E60,000 or more||
|---|---|---|
||2020|2019|
||Number|Number|
|60,000-70,000|1||
|70,000-80,000|||
|90,000-100,000|||
##
|Intangible
fixed asset|s|||
|---|---|---|---|
|||Group|Company|
|||Goodwill|Goodwill|
|||E|E|
|Cost||||
|At 1 January 2020||446,803||
|Additions —separately|acquired||446,803|
|At 31 December 2020||446,803|446,803|
|Amortisation
and impairment||||
|At 1 January 2020||||
|Amortisation
charged|for the year|44,680|44,680|
|At 31 December 2020||44,680|44,680|
|Carrying
amount||||
|At 31 December 2020||402,123|402,123|
|At 31 December 2019||446,803||
##
##
|10|Tangible fixed assets||||||||
|---|---|---|---|---|---|---|---|---|
||||Freehold
land||Fixtures,||Motor vehicles|Total|
||||and buildings||fittings|&|||
||||||equipment||||
|||||||8|8||
||Cost or valuation||||||||
||At 1 January 2020|||7,865,000|133,423||13,788|8,012,211|
||At 31 December 2020|||7,865,000|133,423||13,788|8,012,211|
||Depreciation
and impairment||||||||
||At 1 January 2020|||75,600|133,423||11,340|220,363|
||Depreciation
charged|in the year||44,044|||612|44,656|
||At 31 December 2020|||119,644|133,423||11,952|265,019|
||Carrying
amount||||||||
||At 31 December 2020|||7,745,356|||1,836|7,747,192|
||At 31 December 2019|||7,789,400|||2,448|7,791,848|
||All group assets were|held by the|charity at 31 December|2020 and 31 December|||2019.||
||The carrying
value of land included||in land and buildings|comprises:|||||
||||||||2020|2019|
||||||||f|8|
||Freehold||||||2,425,000|2,425,000|
##
##
|11|Fixed asset investments|Fixed asset investments|Fixed asset investments|||
|---|---|---|---|---|---|
||Company||||Other|
||||||investments|
||||||6|
||Cost or valuation|||||
||At 1 January 2020||||245,961|
||Properties
transferred||on acquisition||1,115,000|
||Write down ofvalue|in|subsidiary||(855,714)|
||Transfer to goodwill||||(446,803)|
||Impairment||||(58,243)|
||At 31 December 2020||||201|
||Carrying
amount|||||
||At 31 December 2020||||201|
||At 31 December 2019||||245,961|
|||||2020|2019|
||Other investments|comprise:||f|f|
||Investments
in subsidiaries|||201|245,961|
##
|Fixed|asset investments|asset investments|—grou|p companies|||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Name|of undertaking|||Registered
office|Nature of||Class of||% Held||
||||||||shares||Direct|Indirect|
|English|ln|Chester Limited||33 Palmeira
Mansions,|English|language|Ordinary||100.00||
|||||Hove, England,
BN3 2GB|school||||||
|Stanley|Place (Holdings)||I imited|33Palmeira
Mansions,|Property|holding|Ordinary|||100.00|
|||||Hove, England,
BN3 2GB|company||||||
|Eastbourne||School of English||8 Trinity Trees, Eastbourne|Dormant||Limited|by|100.00||
|Limited||||Sussex, BN21 3LD|||Guarantee||||
##
|Stocks||||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||Group||Company||
|||||||2020|2019|2020|2019|
|||||||||6|f|
|Finished|goods|and|goods|for|resale|1,877|4,885|1,877|4,885|
##
##
|14|Debtors|||||||
|---|---|---|---|---|---|---|---|
|||||Group||Company||
|||||2020|2019|2020|2019|
||Amounts|falling|due within one year:|E|E|E|E|
||Trade debtors|||109,074|317,102|109,074|274,226|
||Other debtors|||4,373|131,061|4,373|110,260|
|||||113,447|448,163|113,447|384,486|
|15|Loans and overdrafts|||||||
|||||||2020|2019|
|||||||E|E|
||Bank loans|||||1,191,611|505,520|
||Payable|within one year|||||58,355|
||Payable|between|one and five years|||896,426|163,707|
||Payable|after five|years|||295,185|283,458|
##
|||||Group||Company||
|---|---|---|---|---|---|---|---|
|||||2020|2019|2020|2019|
||||Notes|E|E|E||
|Bank loans and overdrafts|||15||58,355||58,355|
|Taxation|and social security|||17,313|77,981|17,313|49,990|
|Deferred|income||17|453,026|429,936|453,026|355,284|
|Payments|received on account|||354,238|706,170|354,238|474,500|
|Trade creditors||||77,251|216,435|77,251|203,028|
|Other creditors|||||13,784|||
|Amounts|owed to subsidiary|undertakings||||201|16,347|
|||||901,828|1,502,661|902,029|1,157,504|
##
##
|||||Group||Company||
|---|---|---|---|---|---|---|---|
|||||2020|2019|2020|2019|
|||||E|E||E|
|Balance|as at 1 January 2020|||429,936|294,093|355,284|294,093|
|Amount|released|to|income from|||||
|charitable
activities||||(429,936)|(294,093)|(355,284)|(294,093)|
|Amount|deferred|in|year|453,026|429,936|453,026|355,284|
|Balance|as at 31|December 2020||453,026|429,936|453,026|355,284|
|Creditors: amounts|||falling due after more than|one year||||
|||||Group||Company||
|||||2020|2019|2020|2019|
||||Notes|E|E|F|E|
|Bank loans|||15|1,191,611|447,165|1,191,611|447,165|
##
##
##
##
##
|20|Analysis of group net assets between|Analysis of group net assets between|Analysis of group net assets between|funds|||||
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Designated|Total|Total|
||||||funds|funds|||
||||||2020|2020|2020|2019|
||||||||8||
||Fund balances||at 31 December 2020 are||||||
||represented|by:|||||||
||Tangible assets||||7,747,192||7,747,192|7,791,848|
||Goodwill||||402,123||402,123|446,803|
||Current assets/(liabilities)||||(640,904)|46,427|(594,477)|(515,611)|
||Long term|liabilities|||(1,191,611)||(1,191,611)|(447,165)|
||||||6,316,800|46,427|6,363,227|7,275,875|
##
##
||||Group||Company||
|---|---|---|---|---|---|---|
||||2020|2019|2020|2019|
||||6||6|8|
|Within one year|||12,637|22,823|12,637|10,661|
|Between two and five years|||14,239|24,899|14,239|24,899|
||||26,876|47,722|26,876|35,560|
|Related party transactions|||||||
|Remuneration|of key management|personnel|||||
|The remuneration|of key management|personnel|is as follows.||||
||||||2020|2019|
|||||||8|
|Aggregate
compensation|||||215,968|178,466|
##
##
##
|23|Cash generated
from|operations||||||2020
6|2019
f|
|---|---|---|---|---|---|---|---|---|---|
||Deficit for the year|||||||(912,648)|(289,024)|
||Adjustments
for:|||||||||
||Tax adjustments||||||||(21,903)|
||Investment
income recognised
in||statement||offinancial|activities||(1,068)|(5,219)|
||Depreciation
and impairment
oftangible|||and|intangible|fixed assets||89,336|38,620|
||Movements
in working|capital:||||||||
||Decrease
in stocks|||||||3,008|801|
||Decrease/(increase)
in|debtors||||||334,716|144,872|
||Increase/(decrease)
in|creditors||||||(542,478)|39,389|
||Cash generated
from/(absorbed||by)|operations||||(1,029,134)|(92,464)|
|24|Analysis ofchanges|In net debt||||||||
||||||||At 1 January|Cash flows|At 31 December|
||||||||2020||2020|
||||||||6||f|
||Cash at bank and
in hand||||||534,002|(341,975)|192,027|
||Loans falling due within|one year|||||(58,355)|58,355||
||Loans falling due after|more than|one year||||(447,165)|(744,446)|(1,191,611)|
||||||||28,482|(1,028,066)|(999,584)|
##