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||Page||
|---|---|---|
|Report ofthe Trustees|1to8||
|Report ofthe Independent<br>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|





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||||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<br>and legacies|||||63,054|113,673|176,727|117,483|
|Charitable<br>activities|||||||||
|College income|||||1,464,933||1,464,933|1,586,833|
|Cohousing<br>income|||||607,688||607,688|613,316|
|Other trading activities||||3|17,956||17,956|27,917|
|Investment<br>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<br>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<br>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|





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||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<br>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<br>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<br>funds||||3,373,239|3,055,581|
|Restricted funds||||384,693|299,679|
|TOTAL FUNDS||||3,757,932|3,355,260|





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|||||Cash Flow Statement|||
|---|---|---|---|---|---|---|
||||for|the Year Ended 31July|2021||
||||||2021|2020|
||||Notes||f|E|
|Cash Rows from|operating|activities|||||
|Cash generated<br>from operations||||1|506,736|690,117|
|Interest<br>paid|||||(25,082)|(27,524)|
|Net cash provided|by operating<br>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<br>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<br>in cash and cash equivalents|||in||||
|the reporting<br>period|||||244,707|531,736|
|Cash and cash equivalents||at the|||||
|beginning<br>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|





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|RECONCIUATION<br>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<br>for:|||||
|Depreciation<br>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|



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||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|





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||||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|





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|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<br>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|





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|||||||||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|





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|||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|



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||company|made pension<br>contributions<br>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|





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|COMPARATIVES<br>FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES<br>FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES<br>FOR THE STATEMENT OF FINANCIAL ACTIVITIES|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||E|E|f|
|INCOME AND ENDOWMENTS|FROM||||
|Donations<br>and legacies||9,619|107,864|117,483|
|Charitable<br>activities|||||
|College income||1,586,833||1,586,833|
|Cohousing<br>income||613,316||613,316|
|Other trading<br>activities||27,917||27,917|
|Investment<br>income||3,141||3,141|
|Total||2,240,826|107,864|2,348,690|
|EXPENDITURE ON|||||
|Raising funds||26,280||26,280|
|Charitable<br>activities|||||
|Staff costs||1,075,455||1,075,455|
|Allocated support costs||791,565||791,565|
|Governance<br>costs||17,404||17,404|
|Total||1,910,704||1,910,704|
|NET INCOIVIE||330,122|107,864|437,986|
|RECONCIUATION<br>OF FUNDS|||||
|Totalfunds<br>broughtforward||2,725,459|191,815|2,917,274|
|TOTAL FUNDS CARRIED FORWARD||3,055,581|299,679|3,355,260|





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|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<br>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<br>and accrued income||||46,626|45,827|
|||||144,848|59,781|



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|||||Notes to the Financial Statements<br>-continued<br>for the Year Ended 31July 2021|Notes to the Financial Statements<br>-continued<br>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<br>falling due within||||one year on demand:|||
||Bank loans|||||25,662|25,319|
||Otherloans|||||72,742|37,885|
|||||||98,404|63,204|
||Amounts<br>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<br>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|





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|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|



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|MOVEMENT IN FUNDS|||||||
|---|---|---|---|---|---|---|
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.8.20|in funds|funds|31.7.21|
||||f|f|f|f|
|Unrestricted<br>funds|||||||
|General fund|||2,955,581|308,312|9,346|3,273,239|
|Building maintenance|and||||||
|sustainability<br>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<br>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<br>in funds,||included|in the above are as follows:||||
|||||Incoming|Resources|Movement|
|||||resources|expended|in funds|
|||||f|f|f|
|Unrestricted<br>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|





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||||||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<br>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|





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