2020-12-31-accounts - The Bowland Charitable Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

		P~ae
Report ofthe Trustees		3to7
Report ofthe Independent	Auditors	8to 11
Consolidated Statement ofFinancial Activities		12
Consolidated Balance Sheet		13
Charity Balance Sheet		14
Consolidated Cash flow	Statement	15to 16
Notes to the Consolidated	Financial Statements	17to 28

Registered	charity number	charity number		292027
Registered	office			Bowland House
				Philips Road
				Blackbum
				Lancashire
				BB15NA
Trustees and		key management	personnel	H A Cann	CBE
				C Fahy
				H DTurner
Bankers				Lloyds Bank Pic
				Blackbum
				Lancashire
				BB2IJQ
Auditors				Ainsworths	Limited
				Chartered	Accountants
				and Statutory Auditors
				Charter House
				Stansfield	Street
				Nelson
				Lancashire
				BB99XY
Stockbrokers		and investment	advisers	Redmayne-Bentley
				8-10Victoria Street
				Harrogate
				North Yorkshire
				HGI 1ED

								Unrestricted	Restricted
							Notes	funds	funds	2020	2019
Income from:
Donations and legacies							5	162,316		162,316
Commercial trading		operations		in support		ofthe
charitable group's	aims and objectives							1,533,770		1,533,770	1,771,149
Investment income								57,764		57,764	165,390
Total income								I 753,850		1,753,850	1,936,539
Expenditure on:
Commercial trading		operations		in support		ofthe
charitable group's	aims and objectives							4tt08,127		4,908,127	3,478,737
Charitable activities								1,319,948		1,319,948	1,469,833
Total expenditure								6,228,075		6,228,075	4948 570
Net gains/ (losses)	on investments							(252,524)		(252,524)	382,307
Net expenditure and net movement					in funds			(4,726,749)		(4i726&749)	(2,629,724)
Reconciliation offends
Total funds brought		forwards						7,016,330		7,016330	9,646,054
Total funds carried		forwards					18	2,289,581		2,289,581	7,016,330
Net expenditure		and	movement		in	funds
attributable to:
Parent charity								(3,953,922)		(3,953,922)	(2,332,269)
Non-controlling interest								(772,827		772,827	(408,081)
Total								(4,726,749)		(4,726,749)	(2,629,724)

		Notes	2020		2019
FIXEDASSETS
Intangible assets		ll		1,77$,521		2,564,828
Tangible assets		12		10665		25,078
				1,789,186		2,589,906
CURRENT ASSETS
Stocks			377,572		678,578
Debtors		14	685,068		906,560
Listed investments		15	3,323,652		3,224,936
Cash at bank and in hand			450,821		1,992,690
			4,837,113		6,802,764
CREDITORS
Amounts falling	due within one year	16	4,122 057		2 376340
NET CURRENT ASSETS				715056		4 426 424
TOTAL ASSETSLESSCURRENT
LIABILITIES				2,504,242		7,016,330
PROVISIONS FORLIABILITIES				(214,661)
NET ASSETS				2)289,581		7,016,330
FUNDS
Restricted
Unrestricted		18		2,6$1)533		6,635,455
Non-controlling	interests	18		(391,952)		380,875
Total				2,289,581		7,016,330

		2020		2019
	Notes
FIXEDASSETS
Investments	13
CURRENT ASSETS
Stocks				240,516
Debtors	14	635,000		289,000
Listed investments	15	3/233652		3,224,936
Cash at bank and in hand		321,316		1,901,726
		4,279,968		5,656,178
CREDITORS
Amounts falling due within one year	36	303400		333900
NET CURRENT ASSETS			3,927,568		5,317,278
NET ASSETS			3,927,568		5,317,278
FUNDS
Restricted	18
Unrestricted	18		3,927,568		5,317,278
Total			3,927,568		5,317,278

		Notes	31.12.20	31.12.19
Cash flows from charitable activities
Cash used in operating activities		I	(2,674,957)	(2,583,608)
Tax paid/ (received)
			2,674,95	~2,583,608
Cash tlows from investing activities
Purchase ofcurrent asset investments Purchase ofintangible fixed assets Purchase oftangible fixed assets Saleofcurrent asset investments			(4,501,743) (12,388) (5,388) 4,150,502	(392,515) (1,049,390) (11,867) 1,658,902
Interest received Issue ofordinary share capital			462	1,596
Dividends received			57,302	163,794
Net cash &om investing activities			311,253	370,520
Cash flows from financing activities
Loan advances received			1 444 341	1,255,975
Net cash from financing activities			1,444 41	1255 975
Decrease in cash and cash equivalents			(1,541,869)	(957,113)
Cash and cash equivalents at beginning	ofyear	2	1 992,690	2,949,803
Cash and cash equivalents at end ofyear		2	450,821	1,992,690

RECONCILIATION OFDEFICIT TO CASH GENERATED FROM ACTIVITKS	RECONCILIATION OFDEFICIT TO CASH GENERATED FROM ACTIVITKS	RECONCILIATION OFDEFICIT TO CASH GENERATED FROM ACTIVITKS	RECONCILIATION OFDEFICIT TO CASH GENERATED FROM ACTIVITKS	RECONCILIATION OFDEFICIT TO CASH GENERATED FROM ACTIVITKS
				31.12.20	31.12.19
Net expenditure	and net movement	in funds		(4,726,749)	(2,629,724)
Finance income				(57,764)	(165,390)
Net losses on disposal ofintangible assets				7,511
Net (gains)/losses	on disposals of	investment	assets	(26)	9,652
Net losses/(gains)	on investments	assets		252,551	(391,959)
Depreciation and	amortisation			810,985	493,387
Decrease/(Increase) in stocks				301,006	(49,385)
Decrease/(Increase) in trade and other debtors				221,492	(178,661)
Increase in trade	and other creditors			516,037	328,472
Cash generated	from charitable	activities		(2,674,957)	(2,583,608)

Year	ended 31"December 2020
		31.12.20	01.01.20
			f
Cash	at bank and in hand	450,821	1,992,690
Year	ended 31"December 2019
		31.12.19	01.01.19
Cash	at bank and in hand	1,992,690	2,949,803

								31.12.20	31.12.19
Wages and salaries								1,724,562	883,708
Social security	costs							188,046	76,413
Employer contributions			to	defined	contribution	pension schemes		148,161	83,158
								2,060,769	1,043,279
The average number		ofemployees			during the	year	was as follows:
								31.12.20	31.12.19
Directors								5	8
Statf								48	47
								53	55
Employees earning more than 560,000 during						the	year:
								31.12.20	31.12.19
560,001 - 570,000								3	2
								31.12.20	31.12.19
Key management	personnel							243401	166,573
Key tnanagement	personnel			employer contributions			to defined
contribution pension		schemes						22,565	17,132

	subsidiaries, the activities ofwhich are disclosed in note 1	subsidiaries, the activities ofwhich are disclosed in note 1	subsidiaries, the activities ofwhich are disclosed in note 1	3.
	The summary financial performance ofthe charity alone
	is:
				Unrestricte	Restricted
				d
				Funds	Funds	2020	2019
							8
	Donations	and legacies		125,000		125,000
	Investment	income		57)764		57,764	165,382
	Other income						2,101
				182,764		182,764	167,483
	Expenditure	on charitable activities		(1,319,949)		(I819,949)	(1,469,833
	Net expenditure			(1,137,185)		(1,137,185)	(1,302,350
							)
	Net gains/ (losses) on listed investment		assets	(252,525)		(252,525	382,307
	Net movement in funds			(1389,710)		(1,389,710)	(920,043)
	Total funds	brought forward		5,317,278		5,317,278	6,237,321
	Total funds carried forward			3,927,568		3)927)568	5,317,278
	Represented	by:
	Unrestricted	income funds		3,927,568		3,927,568	5,317,278
5.	DONATIONS AND LEGACIES
				3L12.20		31.12.19
			Group	Charity	Group	Charity
	Donations	received		125,000	125,000
	Grants received:
	Comnavirus	Job Retention Scheme		26416
	COVID support grants			11,000
		162,316	125,000

INVESTMENT INC	O	ME
				31.12.20			31.12.19
			Group	Charity		Group	Charity
				8
Dividends receivable on		listed investments		57302		57302	163,794	163,794
Interest receivable on	cash at		bank	462		461	1,596	1,588
	57,764		57,763	165,390 165,382
All ofthe above, in both		the current and preceding		year, are unrestricted	funds.
TOTAL RESOURCES		EXPENDED
				Commercia
				I
				trading		Charitable	Total	Total
				operations		activities	2020	2019
Costs directly allocated to activities:
Grants awarded (see note 9)						1,012,793	1,012,793	1,414,374
Staff costs (see note 3)				2,060,769			2,060,769	1,043,280
Redundancy cost				151,498			151,498
Promotional costs				163,270			163,270	143,482
Product costs				1,287,594		240,516	1,52$,110	1,442,405
Professional snd consultancy			fees	219,458			219,458	123,143
Office and administrative		costs		207)444		(9,539)	197,905	222,546
Depreciation				27,$03			27,803	21,570
Amortisation				783,1$2			783,182	471,817
Net losses on disposal	ofassets			7,109			7,109
Support costs (Note 8)						76,178	76,178	65,953
				4,908,127		1,319,948	6,228,075	4,948,570

SUPPORT COSTS
		Commercia
		1
		trading	Charitable	Total	Total
		operations	activities	2020	2019
Support costs allocated	to activities:
Bank charges			73	73	80
Legal and professional	fees		19,123	19,123	17,333
Management charge			43,482	43,482	40,440
Auditor's remuneration	—audit services		13,500	13,500	8,100
			76,178	76,178	65,953
ANALYSIS OF CHARITABLE ACTIVITIES
				2020	2019
Educational activities				912,729	860,024
Religious activities				52,817	30,428
Recreational activities				3,588	50,000
Cultural activities				14,965	373,922
Support for activities	ofyoung people			25,000	41,300
Donations to other charities				3694	58,700
				1,012,793	1,414,374

INTANGIBLE FIXEDASSETS
	Development	Computer
	costs	software	Total
COST
At l'January 2020	3,132,720	40,011	3,172,731
Additions	12/88		12,388
Disposals		40,011	40,011
At 31"December 2020	3,145,108		3,145,108
AMORTISATION
At l"January 2020	583,405	24,498	607,903
Charge for the year	783,182	8,002	791)184
Eliminated on disposal		(32,500	(32,500)
At 31 December 2020	1366,587		1,366,587
NET BOOK VALUE
At 31"December 2020	1,778,521		1,778,521
At 31"December 2019	2,549,315	15,513	2,564,828

TANGIBLE FIXEDASSETS
	Fixtures	&	Computer
	fittings		equipment	Total
			8
COST
At 1*'January 2020	1,176		69,335	70,511
Additions			5,388	5,388
Disposals At31'December 2020	1,176		2,116) 72,607	(2,116 73,783
DEPRECIATION
At 1"January 2020		98	45,335	45,493
Charge for the year		235	19,566	19,801
Eliminated on disposal At 31"December 2020		333	(2,116) 62,785	(2,116) 63,178
NET BOOK VALUE
At 31"December 2020		843	9,822	10,665
At 3l"December 2019	1,078		24,000	25,078

N~f	ortion ofnominal	value ofissued
Learning by Questions Limited	77.6%Ordinary	Shares	Educational	support services
Lancashire Digital Limited	100%Ordinary	Shares	Soibvare	development
Learning Clip Limited	100%Ordinary	Shares	Soibvsre	development
LEBParmership Limited	100%Orfhnary	Shares	Sale ofeducational products

LISTEDINV	E	STMENTS- GROUP AND CHARITY
			2020	2019
			8
Market value	at	beginning ofyear	3,224,936	4,109,016
Additions during		the year	4,501,742	392,515
Disposals during		the year	(4&150&502)	(1,658,902)
Net gain/(toss)	on revaluation		252,524	382,307
Market value	at	end ofyear	3,323,652	3,224,936

				31.12.20	31.12.20	31.12.19
			Group	Charity	Group	Charity
Trade creditors				123348		65,525
Other creditors				825,333	300,000	812,779	300,000
Other loans			2,700,316			1,255,975
Accruals				127,991	52,400	166,621	38,900
Social security	and other taxes			345,069		75,440
	4,122,057	352,400	2,376,340	338,900

ANALYSIS OFNET ASSETSBETW	EEN FUNDS - GROUP
	Total	Total
	restricted	unrestricted	Total funds	Total funds
	funds	funds	2020	2019
Fixed assets		1,789,186	1,789,1$6	2,589,906
Current assets		4,837,113	4,837,113	6,802,764
Current liabilities		(4,122,057) .	(4,122,057)	(2,376,340)
Provisions for liabilities		214,661	214661
		2,289,581	2489,5$1	7,016,330

ANAL	YSIS OFNET ASSETS BET	WEEN FUNDS -CHARITY
		Total	Total
		restricted	unrestricted	Total funds	Total funds
		funds	funds	2020	2019
				8	f,
Fixed assets
Current	assets		4479,968	4,279,968	5,656,178
Current	liabilities		352,400	352,400	338,900
			3,927,568	3,927,568	5,317,278

MOVEMENT IN FUNDS- GROUP	MOVEMENT IN FUNDS- GROUP	MOVEMENT IN FUNDS- GROUP	MOVEMENT IN FUNDS- GROUP
							Net		Transfers
							movement	in	between	Changes	in
				At	1.1.20 8		funds		funds	equity		At31.12.20 f
				as restated
Restricted	funds
Unrestricted		funds:
General				2+92,036			(3,778,831)		383,808			(1,002,987)
Capital						100							100
Designated:
Grants payable				4,624,194			(947,918)		(383,808)			3,292,468
				7,016,330			(4,726,749)					2,289,581
Net movement		in funds, included	in the	above are		as follows:
										Revaluations
										slid gallic ou		Net
							Incoming		Resources	disposal of		movement	in
							resources		expended	investments		funds
									f,			f
Restricted funds
Unrestricted		funds:
General							1,753,850		(5,273,048)	(252,524)		(3,778,831)
Capital
Designated:
Grants payable									(947,918)			(947,918)
Total							1,753,850		(6428,075)	(252,524)		(4,726,749)

MOVEMEN	T IN FUNDS- CHARIT	Y
			Net		Transfers
			movement	in	between
		At 1.1.20	funds		funds	At 31.12.20
		8
Restricted funds
Unrestricted	funds:
General		692,984	(441,792)		35,057	286449
Capital		100				100
Designated:
Grants payable		4,624,194	(947,918)		(35,057)	3,641,219
		5,317,278	(1,389,710)			3,927,568

					Net
		Incoming	Resources	Other gains	movement	in
		resources	expended	and losses	funds
Restricted funds
Unrestricted	funds:
General		182,764	(372,031)	(252,525)	(441,792)
Capital
Designated:
Grants payable			(947,918)		(947,918)
Total		182,764	(1819,949)	(252,525)	(1,389,710)

CONSOLIDATED	STATEME	NT OF CHANGES IN E	QUITY
				Non-
			Unrestricted	controlling
			funds	interests	Total
Balance at 1January	2020		6,635,455	380,875	7,016,330
Total comprehensive	expenditure	for the year	(3,953,922)	(772,827)	(4,726,749)
Balance at 31December 2020			2,681,533	(391,952)	2,289,581