| Page | ||
|---|---|---|
| Report ofthe Trustees | 1to8 | |
| Report ofthe Independent Auditors |
9to12 | |
| Statement of Financial Activities | 13 | |
| Balance Sheet | 14 | |
| Cash Flow Statement | 15 | |
| Notes to the Cash Flow Statement | 16 | |
| Notes tothe Financial Statements | 17 to | 28 |
| fo | r the Year | Ended 31July 2 | 021 | |||||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| Unrestricted | Restricted | Total | Total | |||||
| funds | funds | funds | funds | |||||
| Notes | f | f | f | f | ||||
| INCOME AND ENDOWMENTS | FROM | |||||||
| Donations and legacies |
63,054 | 113,673 | 176,727 | 117,483 | ||||
| Charitable activities |
||||||||
| College income | 1,464,933 | 1,464,933 | 1,586,833 | |||||
| Cohousing income |
607,688 | 607,688 | 613,316 | |||||
| Other trading activities | 3 | 17,956 | 17,956 | 27,917 | ||||
| Investment income |
4 | 2,235 | 2,235 | 3,141 | ||||
| Total | 2,155,866 | 113,673 | 2,269,539 | 2,348,690 | ||||
| EXPENDITURE ON | ||||||||
| Raising funds | 10,259 | 10,259 | 26,280 | |||||
| Charitable activities |
||||||||
| Staff costs | 1,067,157 | 1,067,157 | 1,075,455 | |||||
| Allocated support | costs | 751,024 | 19,313 | 770,337 | 791,565 | |||
| Governance costs | 19,114 | 19,114 | 17,404 | |||||
| Total | 1,847,554 | 19,313 | 1,866,867 | 1,910,704 | ||||
| NET INCOME | 308,312 | 94,360 | 402,672 | 437,986 | ||||
| Transfers between | funds | 19 | 9,346 | (9,346) | ||||
| Net movement in |
funds | 317,658 | 85,014 | 402,672 | 437,986 | |||
| RECONCIUATION | OF FUNDS | |||||||
| Total funds brought | forward | 3,055,581 | 299,679 | 3,355,260 | 2,917,274 | |||
| TOTAL FUNDS CARRIED FORWARD | 3,373,239 | 384,693 | 3,757,932 | 3,355,260 |
| 31 | July 2021 | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | f | E | E | E | |
| FIXEDASSETS | |||||
| Tangible assets | 13 | 2,896,111 | 2,896,111 | 2,882,806 | |
| CURRENT ASSETS | |||||
| Debtors | 14 | 144,848 | 144,848 | 59,781 | |
| Cash at bank and in hand | 1,766,213 | 384,693 | 2,150,906 | 1,906,199 | |
| 1,911,061 | 384,693 | 2,295,754 | 1,965,980 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
15 | (252,565) | (252,565) | (141,678) | |
| NET CURRENT ASSETS | 1,658,496 | 384,693 | 2,043,189 | 1,824,302 | |
| TOTAL ASSETS LESSCURRENT LIABILITIES | 4,554,607 | 384,693 | 4,939,300 | 4,707,108 | |
| CREDITORS | |||||
| Amounts falling due after more than one |
|||||
| year | 16 | (1,181,368) | (1,181,368) | (1,351,848) | |
| NET ASSETS | 3,373,239 | 384,693 | 3,757,932 | 3,355,260 | |
| FUNDS | 19 | ||||
| Unrestricted funds |
3,373,239 | 3,055,581 | |||
| Restricted funds | 384,693 | 299,679 | |||
| TOTAL FUNDS | 3,757,932 | 3,355,260 |
| Cash Flow Statement | ||||||
|---|---|---|---|---|---|---|
| for | the Year Ended 31July | 2021 | ||||
| 2021 | 2020 | |||||
| Notes | f | E | ||||
| Cash Rows from | operating | activities | ||||
| Cash generated from operations |
1 | 506,736 | 690,117 | |||
| Interest paid |
(25,082) | (27,524) | ||||
| Net cash provided | by operating activities |
481,654 | 662,593 | |||
| Cash flows from | investing | activities | ||||
| Purchase oftangible fixed | assets | (177,152) | (111,496) | |||
| Sale oftangible fixed assets | 1,910 | |||||
| Interest received | 2,235 | 3,141 | ||||
| Net cash used in |
investing | activities | (174,917) | (106,445) | ||
| Cash flows from | financing | activities | ||||
| Loan repayments | in year | (62,030) | (24,412) | |||
| Net cash used in | financing | activities | (62,030) | (24,412) | ||
| Change in cash and cash equivalents |
in | |||||
| the reporting period |
244,707 | 531,736 | ||||
| Cash and cash equivalents | at the | |||||
| beginning ofthe |
reporting | period | 1,906,199 | 1,374,463 | ||
| Cash and cash equivalents | at the end | |||||
| ofthe reporting | period | 2,150,906 | 1,906,199 |
| RECONCIUATION O |
F NET INC | OME TO NET CASH FLOW FROM OPERA | TING ACTIVITIES | |
|---|---|---|---|---|
| 2021 | 2020 | |||
| E | E | |||
| Net income for the | reporting | period (as per the Statement of | ||
| Financial Activities) | 402,672 | 437,986 | ||
| Adjustments for: |
||||
| Depreciation charges |
162,024 | 143,527 | ||
| Loss on disposal of | fixed assets | 1,822 | 455 | |
| Interest received | (2,235) | (3,141) | ||
| Interest paid | 25,082 | 27,524 | ||
| Foreign exchange movement | (73,249) | |||
| (Increase)/decrease | in debtors | (85,067) | 92,674 | |
| Increase/(decrease) | in creditors | 75,687 | (8,908) | |
| Net cash provided | by operations | 506,736 | 690,117 |
| At 1.8.20 | Cash flow | At 31.7.21 | |
|---|---|---|---|
| f | E | f | |
| Net cash | |||
| Cash at bank and in hand | 1,906,199 | 244,707 | 2,150,906 |
| 1,906,199 | 244,707 | 2,150,906 | |
| Debt | |||
| Debts falling due within 1year | (63,204) | (35,200) | (98,404) |
| Debts falling due after 1year | (1,351,848) | 170,480 | (1,181,368) |
| (1,415,052) | 135,280 | (1,279,772) | |
| Total | 491,147 | 379,987 | 871,134 |
| Unrestricted | Restricted | |||||
|---|---|---|---|---|---|---|
| funds | funds | Total | Total | |||
| 2021 | 2021 | 2021 | 2020 | |||
| f | E | f | E | |||
| Regular giving | and charitable | donations | 3,294 | 84,872 | 88,166 | 100,307 |
| Government | grants | 59,760 | 28,801 | 88,561 | 17,176 | |
| 63,054 | 113,673 | 176,727 | 117,483 |
| 3. | OTHER TRADING | ACTIVITIES | ||
|---|---|---|---|---|
| 2021 | 2020 | |||
| f | f | |||
| Events income | 1,382 | 9,355 | ||
| Tuck shop income | 773 | 979 | ||
| Social enterprise | sales | 3,602 | 2,864 | |
| Rental income | 12,199 | 14,719 | ||
| 17,956 | 27,917 | |||
| 4. | INVESTIVIENT INCOME | |||
| 2021 | 2020 | |||
| E | E | |||
| Deposit account interest | 2,235 | 3,141 | ||
| 5. | INCOME FROM CHARITABLE ACTIVITIES | |||
| 2021 | 2020 | |||
| E | f | |||
| College income | 1,464,933 | 1,586,833 | ||
| Cohousing income |
607,688 | 613,316 | ||
| 2,072,621 | 2,200,149 |
| EXPENDITU | RE ON CHARITABLE ACTIVITIE | S | ||
|---|---|---|---|---|
| Support | ||||
| Direct | costs (see | |||
| Costs | note 7) | Totals | ||
| E | f | f | ||
| Staff costs | 1,067,157 | 1,067,157 | ||
| Allocated support costs | 770,337 | 770,337 | ||
| Governance | costs | 19,114 | 19,114 | |
| 1,067,157 | 789,451 | 1,856,608 |
| Governance | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Management | Finance | costs | Totals | ||||||
| f | f | f | f | ||||||
| Allocated | support costs | 841,395 | (71,058) | 770,337 | |||||
| Governance | costs | 19,114 | 19,114 | ||||||
| 841,395 | (71,058) | 19,114 | 789,451 | ||||||
| The charity | identifies | the cost of the support | and governance | functions. | These are | apportioned | |||
| with reference to the key charitable | activities | undertaken | in the | year. | |||||
| Support costs, included | in the above, are as follows: | ||||||||
| Finance | |||||||||
| 2021 | 2020 | ||||||||
| Allocated | |||||||||
| support | Total | ||||||||
| costs | activities | ||||||||
| f | f | ||||||||
| Bank charges | 2,191 | 1,388 | |||||||
| Foreign exchange gains/losses | (73,249) | ||||||||
| (71,058) | 1,388 | ||||||||
| Governance | costs | ||||||||
| 2021 | 2020 | ||||||||
| Governance | Tota I | ||||||||
| costs | activities | ||||||||
| f | f | ||||||||
| Trustees' | expenses | 62 | 1,235 | ||||||
| Auditors' | remuneration | 7,845 | 10,910 | ||||||
| Legalfees | 11,207 | 5,259 | |||||||
| 19,114 | 17,404 |
| 2021 | 2020 | ||
|---|---|---|---|
| E | f | ||
| Audit ofthe | accounts | 7,845 | 10,910 |
| Depreciation | - owned assets | 162,024 | 143,528 |
| Loss on disposal offixed assets | 1,822 | 455 |
| company | made pension contributions off9,60 |
0(2020:E4,800). | ||
|---|---|---|---|---|
| Trustees' | expenses | |||
| 2021 | 2020 | |||
| E | f | |||
| Trustees' | expenses | 62 | 1,235 | |
| 10. | STAFF COSTS | |||
| 2021 | 2020 | |||
| f | f | |||
| Wages and salaries | 926,908 | 947,284 | ||
| Social security costs | 50,205 | 49,160 | ||
| Other pension costs | 90,044 | 79,011 | ||
| 1,067,157 | 1,075,455 |
| 2021 | 2020 | |
|---|---|---|
| Employees | 39 | 36 |
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| E | E | f | ||
| INCOME AND ENDOWMENTS | FROM | |||
| Donations and legacies |
9,619 | 107,864 | 117,483 | |
| Charitable activities |
||||
| College income | 1,586,833 | 1,586,833 | ||
| Cohousing income |
613,316 | 613,316 | ||
| Other trading activities |
27,917 | 27,917 | ||
| Investment income |
3,141 | 3,141 | ||
| Total | 2,240,826 | 107,864 | 2,348,690 | |
| EXPENDITURE ON | ||||
| Raising funds | 26,280 | 26,280 | ||
| Charitable activities |
||||
| Staff costs | 1,075,455 | 1,075,455 | ||
| Allocated support costs | 791,565 | 791,565 | ||
| Governance costs |
17,404 | 17,404 | ||
| Total | 1,910,704 | 1,910,704 | ||
| NET INCOIVIE | 330,122 | 107,864 | 437,986 | |
| RECONCIUATION OF FUNDS |
||||
| Totalfunds broughtforward |
2,725,459 | 191,815 | 2,917,274 | |
| TOTAL FUNDS CARRIED FORWARD | 3,055,581 | 299,679 | 3,355,260 |
| TANGIBLE FIXEDASSE | TS | ||||
|---|---|---|---|---|---|
| Freehold | Plant and | Motor | Computer | ||
| property | machinery | vehicles | equipment | Totals | |
| f | f | f | f | f | |
| COST | |||||
| At 1August 2020 | 4,611,498 | 419,910 | 115,032 | 34,876 | 5,181,316 |
| Additions | 98,114 | 59,407 | 6,495 | 13,136 | 177,152 |
| Disposals | (34,132) | (34,132) | |||
| At 31July 2021 | 4,709,612 | 445,185 | 121,527 | 48,012 | 5,324,336 |
| DEPRECIATION | |||||
| At 1August 2020 | 1,853,656 | 344,856 | 76,405 | 23,593 | 2,298,510 |
| Charge for year | 114,275 | 29,287 | 9,792 | 8,670 | 162,024 |
| Eliminated on disposal |
(32,309) | (32,309) | |||
| At 31July 2021 | 1,967,931 | 341,834 | 86,197 | 32,263 | 2,428,225 |
| NET BOOK VALUE | |||||
| At 31July 2021 | 2,741,681 | 103,351 | 35,330 | 15,749 | 2,896,111 |
| At 31July 2020 | 2,757,842 | 75,054 | 38,627 | 11,283 | 2,882,806 |
| DEBTORS:AMOUNTS | FALUNG DUE WITHIN | ONE YEAR | |||
| 2021 | 2020 | ||||
| f | f | ||||
| Trade debtors | 98,167 | 13,643 | |||
| Other debtors | 55 | 311 | |||
| Prepayments and accrued income |
46,626 | 45,827 | |||
| 144,848 | 59,781 |
| Notes to the Financial Statements -continued for the Year Ended 31July 2021 |
Notes to the Financial Statements -continued for the Year Ended 31July 2021 |
||||||
|---|---|---|---|---|---|---|---|
| 15. | CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | |||||
| 2021 | 2020 | ||||||
| E | f | ||||||
| Bank loans | and overdrafts | (see note 17) | 25,662 | 25,319 | |||
| Other loans | (see note 17) | 72,742 | 37,885 | ||||
| Trade creditors | 75,820 | 14,342 | |||||
| Social security and other | taxes | 11,100 | 12,924 | ||||
| Other creditors | 9,120 | 11,231 | |||||
| Accruals and deferred | income | 58,121 | 39,977 | ||||
| 252,565 | 141,678 | ||||||
| 16. | CREDITORS: AMOUNTS | FALLING DUE AFTER MORE THAN ONE YEAR | |||||
| 2021 | 2020 | ||||||
| E | f | ||||||
| Bank loans | (see note 17) | 298,843 | 324,501 | ||||
| Other loans | (see note 17) | 882,525 | 1,027,347 | ||||
| 1,181,368 | 1,351,848 | ||||||
| 17. | LOANS | ||||||
| An analysis | ofthe maturity | of loans is given below: | |||||
| 2021 | 2020 | ||||||
| f | f | ||||||
| Amounts falling due within |
one year on demand: | ||||||
| Bank loans | 25,662 | 25,319 | |||||
| Otherloans | 72,742 | 37,885 | |||||
| 98,404 | 63,204 | ||||||
| Amounts falling between |
one and two years: | ||||||
| Bank loans | —1-2years | 26,007 | 25,658 | ||||
| Other loans | —1-2years | 74,208 | 76,911 | ||||
| 100,215 | 102,569 | ||||||
| Amounts falling due between two and five years: |
|||||||
| Bank loans | - 2-5years | 135,434 | 133,619 | ||||
| Other loans | -2-5 years | 231,716 | 257,474 | ||||
| 367,150 | 391,093 |
| LOANS - | co | ntinued | |||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| E | E | ||||
| Amounts | falling due in more than five years: | ||||
| Repayable | by instalments: | ||||
| Bank loans | more 5yr by instal | 137,402 | 165,224 | ||
| Other loans more 5yrs instal | 576 601 | ~692 962 | |||
| 714,003 | 858,186 | ||||
| SECURED | DEBTS | ||||
| The following secured debts are included | within creditors: | ||||
| 2021 | 2020 | ||||
| E | f | ||||
| Bankloans | 324,505 | 349,820 | |||
| Otherloans | 955,267 | 1,065,232 | |||
| 1,279,772 | 1,415,052 |
| MOVEMENT IN FUNDS | ||||||
|---|---|---|---|---|---|---|
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.8.20 | in funds | funds | 31.7.21 | |||
| f | f | f | f | |||
| Unrestricted funds |
||||||
| General fund | 2,955,581 | 308,312 | 9,346 | 3,273,239 | ||
| Building maintenance | and | |||||
| sustainability reserve |
100,000 | 100,000 | ||||
| 3,055,581 | 308,312 | 9,346 | 3,373,239 | |||
| Restricted funds | ||||||
| ESFA16-19Bursary fund | 22,343 | 3,035 | 25,378 | |||
| ESFA Devolved formula |
capital | 14,122 | 5,114 | (9,346) | 9,890 | |
| ESFASchools condition | allocation | 19,222 | 1,339 | 20,561 | ||
| Pond House/cohousing | development | |||||
| fund | 243,992 | 84,872 | 328,864 | |||
| 299,679 | 94,360 | (9,346) | 384,693 | |||
| TOTAL FUNDS | 3,355,260 | 402,672 | 3,757,932 | |||
| Net movement in funds, |
included | in the above are as follows: | ||||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| f | f | f | ||||
| Unrestricted funds |
||||||
| General fund | 2,155,866 | (1,847,554) | 308,312 | |||
| Restricted funds | ||||||
| ESFA16-19Bursary fund | 3,035 | 3,035 | ||||
| ESFA Devolved formula | capital | 5,114 | 5,114 | |||
| ESFASchools condition | allocation | 20,652 | (19,313) | 1,339 | ||
| Pond House/cohousing | development | |||||
| fund | 84,872 | 84,872 | ||||
| 113,673 | (19,313) | 94,360 | ||||
| TOTAL FUNDS | 2,269,539 | (1,866,867) | 402,672 |
| Net | ||||||
|---|---|---|---|---|---|---|
| movement | At | |||||
| At 1.8.19 | in funds | 31.7.20 | ||||
| f | f | f | ||||
| Unrestricted | funds | |||||
| General fund | 2,625,459 | 330,122 | 2,955,581 | |||
| Building maintenance | and | |||||
| sustainability | reserve | 100,000 | 100,000 | |||
| 2,725,459 | 330,122 | 3,055,581 | ||||
| Restricted funds | ||||||
| ESFA16-19Bursary fund | 19,554 | 2,789 | 22,343 | |||
| ESFA Devolved | formula | capital | 9,346 | 4,776 | 14,122 | |
| ESFA Schools | condition | allocation | 9,611 | 9,611 | 19,222 | |
| Pond House/cohousing | development | |||||
| fund | 153,304 | 90,688 | 243,992 | |||
| 191,815 | 107,864 | 299,679 | ||||
| TOTAL FUNDS | 2,917,274 | 437,986 | 3,355,260 |
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| f | f | f | ||
| Unrestricted funds |
||||
| General fund | 2,240,826 | (1,910,704) | 330,122 | |
| Restricted funds | ||||
| ESFA16-19Bursary fund | 2,789 | 2,789 | ||
| ESFA Devolved formula | capital | 4,776 | 4,776 | |
| ESFASchools condition | allocation | 9,611 | 9,611 | |
| Pond House/cohousing | development | |||
| fund | 90,688 | 90,688 | ||
| 107,864 | 107,864 | |||
| TOTAL FUNDS | 2,348,690 | (1,910,704) | 437,986 |