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##
|||||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|||||
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||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|
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||||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|||
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|||||||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|
##
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##
|||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|
##
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##
|||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|
##
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##
|||||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|
##
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##
|||||||||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||||||||
##
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##
|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|
##
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##
|||||||||||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)|
##
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##