## 



## 

## 

|||||Page|
|---|---|---|---|---|
|Reference and administrative||details ofthe Company,|its Trustees and advisers||
|Chair's statement|||||
|Trustees' report||||3-22|
|Independent<br>examiner's|report|||23-24|
|Statement offinancial activities||||25|
|Balance sheet||||26-27|
|Statement ofcash flows||||28|
|Notes to the financial statements||||29-49|





## 

|Trustees||ProfG Henderson|ProfG Henderson|ProfG Henderson||
|---|---|---|---|---|---|
|||R Mortlock||||
|||C O' Malley||||
|||P Boniface, Chair||||
|||L Emerson||||
|||D Elford||||
|||J O'Connell||(appointed|21 June 2020)|
|||L Harris (appointed 21|||June 2020)|
|Company|registered|||||
|number||00599678||||
|Charity registered||||||
|number||311767||||
|Registered|office|Hawkwood||College||
|||Painswick|Old Road|||
|||Stroud||||
|||Gloucester||||
|||GL6 7QW||||
|Company|secretary|A Carey||||
|Chief executive officer||ACarey||||
|Accountants||Regulatory||Audit||
|||Vicarage Court||||
|||160Ermin|Street|||
|||Swindon||||
|||Wiltshire||||
|||SN34NE||||
|Bankers||Lloyds Bank Pic||||
|||Stroud||||
|||Gloucestershire||||
|||GL53D||||
|||Triodos Bank||||
|||Deanery Road||||
|||Bristol||||
|||BS15AS||||





## 

## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

## 



## 

## 

## 



## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 



## 

## 

## 



## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 

|Year|Annual income|/o increasel(decrease)|/o increasel(decrease)|/o increasel(decrease)|Surplusl(deficit)|Surplusl(deficit)|ofincome|
|---|---|---|---|---|---|---|---|
|||on|revious|ear|overex|enditure||
|2020|R628 031|394k|||R76066|||
|2019|R1035815|16'/o|||R57959|||
|2018|R893367|9%|||R26266|||
|2017|R821496|20'/o|||R18898|||
|2016|R685482|7'/o|||R21 270|||
|2015|R643372|11'/o|||R3 536|||



## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 



## 

## 



## 

## 

## 

## 

## 




## 

## 

## 



## 



## 

|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2020|2020|2020|2019|
||Note|R|R|R||
|Income from:||||||
|Donations<br>and legacies||210,721|404|211,125|51,954|
|Charitable<br>activities||3T0,199||370,199|725,149|
|Other trading activities||46,666||46,666|258,622|
|Investments||17|24|41|90|
|Total income||627,603|428|628,031|1,035,815|
|Expenditure<br>on:||||||
|Charitable<br>activities||704,097||704,097|977,854|
|Total expenditure||T04,097||704,09T|977,854|
|Net (expenditure)fincome||(76,494)|428|(76,066)|57,961|
|Transfers between funds|18|4,948|(4,948)|||
|Net movement<br>in funds||(T1,546)|(4,520)|(76,066)|57,961|
|Reconciliation<br>offunds:||||||
|Total funds brought forward||1,662,663|38,398|1,701,061|1,643,100|
|Net movement<br>in funds||(71,546)|(4,520)|(76,066)|57,961|
|Total funds carried forward||1,591,117|33,878|1,624,995|1,701,061|





## 

||||||2020||2019|
|---|---|---|---|---|---|---|---|
||||Note|||||
|Fixed assets||||||||
|Intangible assets|||12||2,610||3,683|
|Tangible assets|||13||1,926,090||1,920,050|
||||||1,928,700||1,923,733|
|Current assets||||||||
|Stocks|||14|2,800||2,800||
|Debtors|||15|38,715||22,414||
|Cash at bank and in hand||||282,140||100,950||
|||||323,655||126,164||
|Creditors: amounts|falling due within one|||||||
|year|||16|(227,623)||(221,419)||
|Net current assets I||liabilites|||96,032||(95,255)|
|Total assets less current liabilities|||||2,024,?32||1,828,478|
|Creditors: amounts|falling due after more|||||||
|than one year|||17||(399,737)||(127,41I7)|
|Net assets excluding||pension asset|||1,624,995||1,701,061|
|Total net assets|||||1,624,995||1,701,061|
|Charity funds||||||||
|Restricted funds|||18||33,878||38,398|
|Unrestricted<br>funds|||18||1,591,117||1,662,663|
|Total funds|||||1,624,995||1,701,061|





## 

## 

||||||2020|2019|
|---|---|---|---|---|---|---|
||||||R||
|Cash flows from operating||activities|||||
|Net cash used in operating|activities||||(89,510)|130,063|
|Cash flows from investing||activities|||||
|Purchase of intangible<br>assets||||||(2,315)|
|Purchase oftangible<br>fixed assets|||||(22,282)|(67,786)|
|Net cash used in investing||activities|||(22,282)|(70,101)|
|Cash flows from financing||activities|||||
|Cash infiows from new borrowing|||||300,000||
|Repayments<br>ofborrowing|||||(7,019)|(26,224)|
|Net cash provided<br>by/(used||in) financing||activities|292,981|(26,224)|
|Change<br>in cash and cash|equivalents||in|the year|181,189|33,738|
|Cash and cash equivalents|at the beginning|||ofthe year|100,951|67,213|
|Cash and cash equivalents||at the end|of|the year|282,140|100,951|





## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 



## 

## 

## 

## 

## 

|||||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|funds|
|||||||2020|2020|2020|
|||||||R|R||
||Donations|||||70,534||70,938|
||Government|grants -|Coronavirus||Job Retention Scheme|140,187||140,187|
|||||||210,721|404|211,125|
|||||||Unrestricted|Restricted|Total|
|||||||funds|funds|funds|
|||||||2019|2019|2019f|
||Donations|||||31,657|20,296|51,953|
|4.|Income from charitable|||activities|||||
||||||||Unrestricted|Total|
||||||||funds|funds|
||||||||2020|2020|
||||||||R|R|
||Income from|charitable|activities - Courses||||370,199|370,199|
||||||||Unrestricted|Total|
||||||||funds|funds|
||||||||2019|2019|
||Income from|charitable|activities - Courses||||725,149|725,149|





## 

## 

## 

## 

## 

|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2020|2020|
|||R||
|Board &room|hire|6,451|6,451|
|Rental income||27,015|27,015|
|Miscellaneous|income|13,200|13,200|
|||46,666|46,666|
|||Unrestricted|Total|
|||funds|funds|
|||2019|2019|
|External course income||109,203|109,203|
|Board &room|hire|3,825|3,825|
|Rental income||32,608|32,608|
|Miscellaneous|income|64,218|64,218|
|Events||48,768|48,768|
|||258,622|258,622|



## 

|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2020|2020|2020|
||||R|R|
|Investment|income|17|24||





## 

## 

## 

## 

|Unrestricted|Restricted|Total|
|---|---|---|
|funds|funds|funds|
|2019|2019|2019|
|36|53||



## 

## 

||||Unrestricted|Total|
|---|---|---|---|---|
||||funds|funds|
||||2020|2020|
|||||R|
|Courses|||546,756|546,756|
|Hire ofCollege Facilities|||68,706|6&,706|
|Fundraising|&Other||68,707|68,707|
|Governance|||19,928|19,028|
||||704,097|704,097|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2019|2019|2019|
|Governance|||||
|Courses||779,996||779,996|
|Hire ofCollege Facilities||93,278||93,278|
|Fundraising|8 Other|62,689|30,569|93,258|
|||11,322||11,322|
|||947,285|30,569|97T,854|





## 

## 

## 

## 

|||Activities|||
|---|---|---|---|---|
|||undertaken|Support|Total|
|||directly|costs|funds|
|||2020f|2020|2020<br>R|
|Courses||450,021|96,736|546,757|
|Hire ofCollege Facilities||56,652|12,054|68,706|
|Fundraising|&Other|56,652|12,054|68,706|
|Governance||13,528|6,400|19,928|
|||576,853|127,244|704,097|



|||Activities|||
|---|---|---|---|---|
|||undertaken|Support|Totai|
|||directly|costs|funds|
|||2019|2019|2019|
|Courses||629,853|150,143|779,996|
|Hire ofCollege Facilities||78,329|14,949|93,278|
|Fundraislng|&Other|78,309|14,949|93,258|
|Governance||5,572|5,750|11,322|
|||792,063|185,791|977,854|





## 

## 

## 

|||||Hire of||||
|---|---|---|---|---|---|---|---|
|||||College|Fundraising||Total|
||||Courses|Facilities|8 Other|Governance|funds|
||||2020|2020|2020|2020|2020|
||||||R||E|
|Staffcosts|||350,024|43,753|43,753||437,530|
|Lecturers|||45,836|5,729|5,729||57+94|
|Course Expenses|||1,071|134|134||1,339|
|Administration||Expenses|30,860|3,858|3,858||38,576|
|Festival Costs|||4,032|504|504||5,040|
|Professional||Fees||||13,528|13,528|
|Food Provisions|||21,391|2,674|2,674||26,739|
|Bad Debt|||(3,193)||||(3,193)|
||||450,021|56,652|56,652|13,528|576,853|
|||||Hire ot||||
|||||College|Fundraising||Total|
||||Courses|Facilities|8,Other|Governance|funds|
||||2019|2019|2019|2019|2019|
|Staffcosts|||345,816|43,223|43,203||432,242|
|Lecturers|||112,446|14,056|14,056||140,558|
|Course Expenses|||4,533|567|567||5,667|
|Administration||Expenses|47,743|5,968|5,968||59,679|
|Fundraising|Activities||9,762|1,220|1,220||12,202|
|Festival Costs|||38,926|4,866|4,867||48,659|
|Professional||Fees||||5,572|5,572|
|Bursary Payments|||2,681|335|335||3,351|
|Food Provisions|||64,753|8,094|8,093||80,940|
|Bad Debt|||3,193||||3,193|
||||629,853|78,329|78,309|5,572|792,063|





## 

## 

||||||Hire of||||
|---|---|---|---|---|---|---|---|---|
||||||College|Fundraising||Total|
|||||Courses|Facilities|&Other|Governance|funds|
|||||2020|2020|2020|2020|2020|
||||||||R||
|Depreciation||||13,008|1,617|1,617||16,242|
|Accountancy|||Fees||||6,400|6,400|
|Household||Expenses||5,337|667|667||6,671|
|Repairs &Replacements||||26,300|3,259|3,259||32,818|
|Rates & Insurance||||15,577|1,947|1,947||19,4?1|
|Heat, Light||&|Water|19,473|2,434|2,434||24,341|
|Bank Charges||||16,183|2,023|2,023||20,229|
|Amortisation||||858|107|107||1,072|
|||||96,736|12,054|12,054|6,400|127,244|
||||||Hire oi||||
||||||College|Fundraising||Total|
|||||Courses|Facilities|&Other|Governance|funds|
|||||2019|2019|2019|2019|2019|
|Staff costs||||37,267||||37,267|
|Depreciation||||10,627|3,727|3,727||18,081|
|Accountancy||Fees|||||5,750|5,750|
|Household|Expenses|||15,028|1,879|1,879||18,788|
|Repairs & Replacements||||23,264|2,908|2,908||29,080|
|Rates & Insurance||||14,841|1,855|1,855||18,551|
|Heat, Light|&Water|||31,944|2,434|2,434||36,812|
|Garden Expenses||||1,517|190|190||1,897|
|Bank Charges||||14,110|1,763|1,763||17,636|
|Amortisation||||1,545|193|193||1,931|
|||||150,143|14,949|14,949|5,750|185,791|





## 

## 

||||||||2020|
|---|---|---|---|---|---|---|---|
|Fees payable|to the Company's|independent|examiner|for the independent|examination|of||
|the Company's|annual accounts||||||2,000|
|Fees payable|to the Company's|independent|examiner|in respect of:||||
|All other services not induded||above|||||1,550|



## 

||||2020|2019|
|---|---|---|---|---|
||||R||
|Wages and|salaries||411,'I35|429,040|
|Social security costs|||20,803|31,405|
|Contribution|to defined contribution|pension schemes|5,592|9,065|
||||43?,530|469,510|



|2020|2019|
|---|---|
|No.|No.|



## 



## 

## 

## 

## 

|Intangible assets||
|---|---|
||Computer|
||software|
|Cost||
|At 1 January 2020|9,656|
|At 31 December 2020|9,656|
|Amortisation||
|At 1 January 2020|5,973|
|Charge for the year|1,073|
|At 31 December 2020|?,046|
|Net book value||
|At 31 December 2020|2,610|



## 

||Freehold|Plant and|Fixtures and||
|---|---|---|---|---|
||property<br>f|machinery|fittings|Total|
|Cost orvaluation|||||
|At 1 January 2020|1,819,600|33,162|205,453|2,058,215|
|Additions|21,919||363|22,282|
|At 31 December 2020|1,841,519|33,162|205,816|2,080,497|
|Depreciation|||||
|At 1 January 2020||31,056|107,110|138,166|
|Charge for the year||1,403|14,838|16,241|
|At 31 December 2020||32,459|121,948|154,40?|





## 

|Tangible fixed assets (continued)|||||
|---|---|---|---|---|
||Freehold|Plant and|Fixtures and||
||property|machinery|fittings|Total|
||R|R|R|R|
|Net book value|||||
|At 31 December 2020|1,841,519|703|83,868|1,926,090|
|At31December 2019|1,819,600|2,106|98,344|1,920,050|



## 

||2020|2019|
|---|---|---|
||R||
|Stock|2,800|2,800|



## 

|||2020|2019|
|---|---|---|---|
|Due within one year||||
|Trade debtors||23,205|18,513|
|Prepayments|and accrued income|15,510|3,901|
|||38,715|22,414|





## 

## 

## 

|||2020|2019|
|---|---|---|---|
|||R||
|Bank loans||48,985|28,323|
|Payments<br>received on|account|22,690||
|Trade creditors||8,191|22,529|
|Other taxation and social security||13,151|14,105|
|Other creditors||2,276|4,113|
|Accruals and deferred|income|132,330|152,349|
|||227,623|221,419|



## 

## 

|2020|2019|
|---|---|
|399,737|127,417|



||||||2020|2019|
|---|---|---|---|---|---|---|
|Payable|or|repayable|by|instalments|158,780||
||||||158,780||





## 

## 

## 

## 

|Statement|offunds -current|year|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at 1||||31|
|||January|||Transfers|December|
|||2020|Income|Expenditure|inlout|2020|
|||R||||E|
|Unrestricted|funds||||||
|General Funds - all funds||617,447|627,603|(704,097)|4,948|545,901|
|Revaluation|Reserve|1,045,216||||1,045,216|
|||1,662,663|627,603|(704,097)|4,948|1,591,117|
|Restrictedfunds|||||||
|Bursary Funds||856|24||(880)||
|FW Reckitt Arts Trust|||||||
|(Formerly Mount Pleasant|||||||
|Artists Rest|Home) donated||||||
|Assets||33,878||||33,878|
|Donations<br>towards outside|||||||
|classroom|||404||(404)||
|Crowdfunding||3,664|||(3,664)||
|||38,398|428||(4,948)|33,878|
|Total offunds||1,701,061|628,031|(?04,097)||1,624,995|





## 

## 

## 

|18.|Statement offunds (continued)|Statement offunds (continued)|Statement offunds (continued)|||||||
|---|---|---|---|---|---|---|---|---|---|
||Statement offunds - prior||year|||||||
||||||||||Balance at|
|||||||Balance at|||31|
|||||||1January|||December|
|||||||2019|Income|Expenditure|2019|
||Unrestricted<br>funds|||||||||
||General<br>Funds - all|funds||||549,213|1,015,518|(947,284)|617,447|
||Revaluation<br>Reserve|||||1,045,216|||1,045,216|
|||||||1,594,429|1,015,518|(947,284)|1,662,663|
||Restricted funds|||||||||
||Bursary Funds|||||4,208||(3,352)|856|
||FW Reckitt Arts Trust (Formerly|||Mount||||||
||Pleasant Artists Rest Home) donated Assets|||||33,878|||33,878|
||Donations<br>towards|outside classroom||||6,921|11,895|(18,816)||
||Donations<br>towards|disabled|bathroom||facilities||6,500|(6,500)||
||Crowdfunding|||||3,664|||3,664|
||Western Power||||||300|(300)||
||University<br>of Bristol||||||1,531|(1,531)||
||Other restricted<br>funds||||||70|(70)||
|||||||48,671|20,296|(30,569)|38,398|
||Total offunds|||||1,643,100|20,296|(977,853)|1,701,061|





||||||Balance at|
|---|---|---|---|---|---|
||Balance at 1||||31|
||January|||Transfers|December|
||2020|Income|Expenditure|in/out|2020|
||||||E|
|General funds|1,662,663|627,603|(704,097)|4,948|1,591,117|
|Restricted funds|38,398|428||(4,948)|33,878|
||1,701,061|628,031|(704,097)||1,624,9S5|
|Summary offunds - prior year||||||
||||||Baiance at|
|||Balance at|||31|
|||1January|||December|
|||2019|Income|Expenditure|2019|
|General funds||1,594,429|1,015,518|(947,284)|1,662,663|
|Restricted funds||48,671|20,296|(30,569)|38,398|
|||1,643,100|1,035,814|(977,853)|1,701,061|



|Analysis|ofnet assets between funds - current|period|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2020|2020|2020|
||||R||
|Tangible|fixed assets|1,926,090||1,926,090|
|Intangible|fixed assets|2,610||2,610|
|Current assets||289,778|33,878|323,656|
|Creditors|due within one year|(227,624)||(227,624)|
|Creditors|due in more than one year|(399,737)||(399,737)|
|Total||1,591,117|33,878|1,624,995|





## 

## 

## 

## 

## 

||Analysis ofnet ass|ets|betw|een|funds -|prior period||||
|---|---|---|---|---|---|---|---|---|---|
||||||||Unrestricted|Restricted|Total|
||||||||funds|funds|funds|
||||||||2019|2019|2019|
||Tangible fixed assets||||||1,920,050||1,920,050|
||Intangible<br>axed assets||||||3,683||3,683|
||Current assets||||||87,767|38,398|126,165|
||Creditors due within|one year|||||(221,421)||(221,421)|
||Creditors due in more than one year||||||(127,417)||(127,417)|
||Total||||||1,662,662|38,398|1,701,060|
|21.|Reconciliation<br>ofnet movement||||in funds to net cash flow||from operating|activities||
|||||||||2020|2019|
||Net<br>income/expenditure||for|the|period|(as per Statement|of Financial|||
||Activities)|||||||(76,066)|57,961|
||Adjustments<br>for:|||||||||
||Depreciation<br>charges|||||||16,241|17,335|
||Amortisation<br>charges|||||||1,073|1,931|
||Decrease<br>in stocks||||||||96|
||Decrease/(increase)|in debtors||||||(16,301)|10,371|
||Increase/(decrease)|in creditors||||||(14,457)|41,627|
||Net cash provided<br>by/(used|||in)|operating|activities||(89,510)|129,321|
|22.|Analysis of cash and cash equivalents|||||||||
|||||||||2020|2019|
|||||||||R||
||Cash in hand|||||||282,140|100,951|
||Total cash and cash|equivalents||||||282,140|100,951|






## 

## 

## 

## 

|||At 1||At 31|
|---|---|---|---|---|
|||January||December|
|||2020|Cash flows|2020|
||||R|R|
|||R|||
|Cash|at bank and in hand|100,950|181,190|282,140|
|Debt|due within<br>1 year|(28,323)|(20,662)|(48,985)|
|Debt|due after 1year|(127,417)|(272,320)|(399,737)|
|||(54,790)|(111,792)|(166,582)|



## 

## 

## 

##