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2021-12-31-accounts

Page
Reference and administrative details ofthe Company, its Trustees and advisers
Chair's statement
Trustees' report 3-26
Independent
auditors'		 report on the financial statements 27-31
Statement offinancial activities 32
Balance sheet 33-34
Statement of cash flows 35
Notes to the financial statements 36-56

REFERENCE AND ADMINISTRATIVE REFERENCE AND ADMINISTRATIVE REFERENCE AND ADMINISTRATIVE REFERENCE AND ADMINISTRATIVE DETAILS DETAILS OF THE COMPANY, ITSTRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31DECEMBER 2021
Trustees Prof G Henderson
R Mortlock
C O' Malley
P Boniface, Chair
L Emerson
D Elford (Resigned 18July 2022)
J O'Connell
L Harris
EPathek-Sen (appointed 18July 2022)
C Durant (appointed 18July 2022)
Company registered
number 00599678
Charity registered
number 311767
Registered office Hawkwood College
Painswick Old Road
Stroud
Gioucester
GL6 7QW
Company secretary A Carey
Chief executive officer A Carey
Independent auditors Regulatory Audit
Vicarage Court
160Ermin Street
Swindon
Wiltshire
SN3 4NE
Bankers Lloyds Bank Pic
Stroud
Gloucestershire
GL53D
Triodos Bank
Deanery Road
Bristol
BS15AS

Annual %increase/(decrease) Surplus/(deficit)
of income
Year Income on previous year over expenditure
2021 H.,093,241 f137,606
2020 8628,031 (39%) (676,066)
2019 E1,035,S15 16% E57,959
2018 f893,367 &6,266
2017 8821,496 20% f18,898
2016 f685,482 7% 821,270

Unrestricted Restricted Total Total
funds funds funds funds
Note 2021 2021 2021 2020f
Income from:
Donations
and legacies		 469,320 469,320 211,125
Charitable
activities		 580,107 580,107 370,199
Other trading
activities		 43,785 43,785 46,666
Investments 13 16 29 41
Total income 1,093,225 16 1,093,241 628,031
Expenditure
on:
Charitable
activities		 955,635 955,635 704,097
Total expenditure 955,635 955,635 704,097
Net income/(expenditure) 137,590 16 137,606 (76,066)
Transfers
between		 funds 18 16 (16)
Net movement
in		 funds 137,606 137,606 (76,066)
Reconciliation
of		 funds:
Total funds brought forward 1,591,117 33,878 1,624,995 1,701,061
Net movement
in funds		 137,606 137,606 (76,066)
Total funds carried forward 1,728,723 33,878 1,762,601 1,624,995

2021 2020
Note E
Fixed assets
Intangible assets 12 1,537 2,610
Tangible assets 13 1,925,257 1,926,090
1,926,794 1,928,700
Current assets
Stocks 14 2,800 2,800
Debtors 15 48,348 38,716
Cash at bank and in hand 374,392 282,140
425,540 323,656
Creditors: amounts falling due within one
year 16 (156,003) (227,624)
Net current assets 269,537 96,032
Total assets less current liabilities 2,196,331 2,024,732
Creditors: amounts faIling due after more
than one year 17 (433,731) (399,737)
Net assets excluding pension asset 1,762,600 1,624,995
Total net assets 1,762,600 1,624,995
Charity funds
Restricted funds 18 33,878 33,878
Unrestricted
funds		 18 1,728,722 1,591,117
Total funds 1,762,600 1,624,995

2021 2020
Cash flows from operating activities
Net cash used in operating activities 110,517 (89,510)
Cash flows from investing activities
Purchase oftangible Ixed assets (13,276) (22,282)
Net cash used in investing activities (13,276) (22,282)
Cash flows from financing activities
Cash inflows from new borrowing 300,000
Repayments
ofborrowing		 (4,989) (7,019)
Net cash (used in)/provided by Snancing activities (4,989) 292,981
Change
in cash and cash		 equivalents in the year 92,252 181,189
Cash and cash equivalents at the beginning ofthe year 282,140 100,951
Cash and cash equivalents at the end of the year 374,392 282,140
The notes on pages 36to 56form part ofthese financial statements

Unrestricted Restricted Total
funds funds funds
2021 2021 2021
E
Donations 148,145 148,145
Government grants - Coronavirus Job Retention Scheme 321,175 321,175
469,320 469,320
Unrestricted Restricted Total
funds funds funds
2020 2020 2020
Donations 70,534 404 70,938
Government grants 140,187 140,187
210,721 404 211,125

Unrestricted Total
funds funds
2021 2021f
Income from charitable activities - Courses 580,107 580,107
Unrestricted Total
funds funds
2020 2020
Income from charitable activities - Courses 370,199 370,199

Unrestricted Total
funds funds
2021f 2021f
Board & room hire 200 200
Rental income 28,043 28,043
Miscellaneous income 15,542 15,542
43,785 43,785
Unrestricted Total
funds funds
2020f 2020
Board 8 room hire 6,451 6,451
Rental income 27,015 27,015
Miscellaneous income 13,200 13,200
46,666 46,666

Unrestricted Restricted Total
funds funds funds
2021
f		 2021 2021f
Investment income 13 16 29
Unrestricted Restricted Total
funds funds funds
2020 2020 2020
Investment income 17 24 41

Unrestricted Total
funds funds
2021 2021
Courses 928,815 928,815
Fundraising &Other 3,482 3,482
Governance 23,338 23,338
955,635 955,635
Unrestricted Total
funds funds
2020 2020f
Courses 546,756 546,756
Hire ofCollege Facilities 68,706 68,706
Fundraising &Other 68,707 68,707
Governance 19,928 19,928
704,097 704,097

Activities
undertaken Support Total
directly costs funds
2021f 2021f 2021f
Courses 734,264 194,551 928,815
Fundraising 8 Other 3,482 3,482
Governance 19,138 4,200 23,338
756,884 198,751 955,635
Activities
undertaken Support Total
directly costs funds
2020f 2020 2020f
Courses 450,020 96,737 546,757
Hire ofCollege Facilities 56,652 12,054 68,706
Fundraising 8 Other 56,652 12,054 68,706
Governance 6,400 13,528 19,928
569,724 134,373 704,097

Hire of
College Fundraising Total
Courses Facilities &Other Governance funds
2021 2021 2021 2021 2021
Staff costs 511,821 511,821
Depreciation 1,073 1,073
Lecturers 114,129 114,129
Course Expenses 2,003 2,003
Administration Expenses 59,471 59,471
Fundraising including festival
costs 3,482 3,482
Professional Fees 19,138 19,138
Food Provisions 45,767 45,767
734,264 3,482 19,138 756,884
Hire ol
Co//ege Fundraising Total
Courses Facilities 8 Other Governance funds
2020 2020 2020 2020 2020
Staff costs 350,024 43,753 43,753 437,530
Lecturers 45,836 5,729 5,729 57,294
Course Expenses 1,071 134 134 1,339
Administration Expenses 30,860 3,858 3,858 38,576
Fundraising including festival
costs 4,032 504 504 5,040
Professional Fees 6,400 6,400
Food Provisions 21,391 2,674 2,674 26,739
Bad Debt (3,193) (3,193)
450,021 56,652 56,652 6,400 569,725

Hire of
College Fundraising Total
Courses Facilities &Other Governance funds
2021f 2021
f		 2021
f		 2021
f		 2021f
Depreciation 14,108 14,108
Accountancy Fees 4,200 4,200
Household Expenses 9,989 9,989
Repairs 8 Replacements 87,833 87,833
Rates &Insurance 17,405 17,405
Heat, Light & Water 38,949 38,949
Bank Charges 26,268 26,268
194,552 4,200 198,752
Hire ot
College Fundraising Total
Courses Facilities & Other Governance funds
2020f 2020 2020 2020 2020f
Depreciation 13,008 1,617 1,617 16,242
Accountancy Fees 13,528 13,528
Household Expenses 5,337 667 667 6,671
Repairs 8 Replacements 26,300 3,259 3,259 32,818
Rates 8 Insurance 15,577 1,947 1,947 19,471
Heat, Light 8 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 13,528 134,372

2021f
Fees payable to the Company's auditor for the audit ofthe Company's annual accounts 4,100
Fees payable to the Company's auditor in respect of:
All non-audit
services		 not included above 1,600
Staffcosts
2021 2020
Wages and salaries 486,645 411,135
Social security costs 20,180 20,803
Contribution
to defined		 contribution pension schemes 4,997 5,592
511,822 43?,530

2021 2020
No. No.
16 16

Intangible assets
Computer
software
Cost
At 1 January 2021 9,656
At 31 December 2021 9,656
Amortisation
At 1 January 2021 7,046
Charge for the year 1,073
At 31 December 2021 8,119
Net book value
At 31 December 2021 1,537

Freehold Plant and Fixtures and
property machinery
f		 fittings Total
Cost or valuation
At 1 January 2021 1,841,518 33,162 205,817 2,080,497
Additions 6,165 6,008 1,102 13,275
At 31 December 2021 1,847,683 39,170 206,919 2,093,772
Depreciation
At 1 January 2021 32,459 121,948 154,407
Charge for the year 1,907 12,201 14,108
At 31 December 2021 34,366 134,149 168,515

Tangible fixed assets (continued)
Freehold Plant and Fixtures and
property machinery fittings Total
E
Net book value
At 31 December 2021 1,847,683 4,804 T2,7TO 1,925,257
At 31December 2020 1,841,518 703 83,869 1,926,090

2021 2020
Stock 2,800 2,800
Debtors
2021 2020
Due within one year
Trade debtors 48,348 23,205
Prepayments and accrued income 15,511
48,348 38,716

2021 2020
Bank loans 10,000 48,985
Payments
received on account		 22,690
Trade creditors 31,218 8,191
Other taxation and social security 15,900 13,152
Other creditors 1213 2,276
Accruals and deferred income 97,672 132,330
156,003 227,624

2021 2020
433,731 399,737

2021 2020
158,780
158,780

Statement offun ds - current year
Balance at
Balance at 1 31
January Transfers December
2021
f		 Income Expenditure in/out 2021
E
Unrestricted
funds
Designated
funds
CRF - reopening and
improvement
fund		 100,000 100,000
Property
Maintenance		 Fund 24,000 24,000
124,000 124,000
General funds
General Funds - all funds 545,901 1,093,224 (955,635) (123,984) 559,506
Revaluation
Reserve		 1,045,216 1,045,216
1,591,117 1,093,224 (955,635) (123,984) 1,604,722
Total Unrestricted funds 1,591,117 1,093,224 (955,635) 16 1,728,722
Restricted funds
Bursary Funds 16 (16)
FW Reckitt Arts Trust
(Formerly
Mount		 Pleasant
Artists Rest Home) donated
Assets 33,878 33,878
33,878 16 (16) 33,878
Total offunds 1,624,995 1,093,240 (955,635) 1,762,600

Balance at
Balance at 31
1January Transfers December
2020f Income
f		 Expenditure f inloutf 2020f
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
Restricted funds
Bursary Funds 856 24 (880)
FW Reckitt Arts Trust
(Formerly
Mount Pleasant
Artists Rest Home) donated
Assets 33,878 33,878
Donations
towards		 outside
classroom 404 (404)
Crowdfunding 3,664 (3,664)
38,398 428 (4,948) 33,878
Total offunds 1,701,061 628,031 (704,097) 1,624,995
19. Summary offunds

Summary offunds - current ye ar
Balance at
Balance at 1 31
January Transfers December
2021 Income
f		 Expenditure
f		 in/outf 2021f
Designated funds 124,000 124,000
General funds 1,591,117 1,093,224 (955,635) (123,984) 1,604,722
Restricted funds 33,878 16 (16) 33,878
1,624)995 1,093,240 (955,635) 1,762,600
Summary offunds - prior year
Balance at
Balance at 31
1January Transfers December
2020 Income Expenditure in/outf 2020
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) 1,624,995
Analysis ofnet assets between funds
Analysis ofnet assets between funds - current year
Unrestricted Restricted Total
funds funds funds
2021f 2021f 2021f
Tangible fixed assets 1,925,257 1,925,257
Intangible fixed assets 1,537 1,537
Current assets 391,662 33,878 425,540
Creditors due within one year (156,002) (156,002)
Creditors due in more than one year (433,731) (433,731)
Difference (1) 1
Total 1,728,722 33,878 1,762,600

Unrestricted Restricted Total
funds funds funds
2020 2020 2020
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
21. Reconciliation
ofnet movement		 in funds to net cash flow from operating activities
2021 2020
Net
income/expenditure		 for the year (as per Statement of Financial
Activities) 137,606 (76,066)
Adjustments
for:
Depreciation
charges		 14,107 16,241
Amortisation
charges		 1,073 1,073
Increase in debtors (9,604) (16,301)
Decrease in creditors (32,636) (14,457)
Net cash provided
by/(used		 in) operating activities 110,346 (89,510)
22. Analysis ofcash and cash equivalents
2021 2020
Cash in hand 374,392 282,140
Total cash and cash equivalents 374,392 282,140

At 1 At 31
January December
2021 Cash flows 2021
f
Cash at bank and in hand 282,140 92,252 374,392
Debt due within
1		 year (48,985) (48,985)
Debt due after 1 year (399,737) (399,737)
(166,582) 92,252 (74,330)