# ## |Palmers
|Gre|en High School Lim|ited| |---|---|---|---| |CONTENTS|||| |for the
earended
31 Jul||2020|| |Contents|||Page| |Governors,
officers and advisers|||| |Report ofthe governors|||| |Report ofthe auditors|||10| |Statement
of financial|activities||13| |Balance Sheet|||14| |Cash flow statement|||15| |Notes to the financial|statements||16| ## |The directors|The directors|ofthe|ofthe|company are Members
ofthe Council ofManagement,|company are Members
ofthe Council ofManagement,|company are Members
ofthe Council ofManagement,|company are Members
ofthe Council ofManagement,|company are Members
ofthe Council ofManagement,|and also Governors|and|Trustees ofthe Charity.|Trustees ofthe Charity.| |---|---|---|---|---|---|---|---|---|---|---|---|---| |Mr JKAtkinson|||*|||Mr R Keys*||||||| |Miss A Averkiou||||||Mr D G Lewis* (Chairman)||||||| |Mrs M Curtis*||||||MrJ Piggott"||||||| |Miss A Eliades||||||Mrs KTidmarsh||||||| |Mrs BGoulding||||||MrJ D Zinkin* (Resigned||13/11/2019)||||| |MrJ Mckinley|||(Appointed||19/03/2020)|Mr A Frankal
(Appointed||19/03/2020)||||| |Miss D Trivedi|||(Appointed||19/03/2020)|||||||| |*Members|ofthe Finance||||and General|Purposes
Committee||||||| |Officers||||||||||||| |Headmistress||||||Mrs W Kempster||||||| |Bursar and|Company|||Secretary||Mrs A Monty||||||| |Deputy Head||||||Miss H Lucas||||||| |Advisers||||||||||||| |Solicitors||||||Veale Wasbrough|Vizards||Ellis|Whittam||| |||||||Orchard
Court|||Woodhouse|||| |||||||Orchard
Lane|||Church||Lane|| |||||||Bristol BS15WS|||Aldford|||| ||||||||||Cheshire||CH3 6JD|| |Bankers||||||HSBC Bank Pic||||||| |||||||1 Aldermans
Hill||||||| |||||||Palmers
Green||||||| |||||||London
N13 4YE||||||| |Auditors||||||Moore Kingston
Smith LLP||||||| |||||||Devonshire
House||||||| |||||||60 Goswell Road||||||| |||||||London EC1M 7AD||||||| |Investment|Managers|||||EFG Private Bank|Limited|||||| |||||||Leconfield House||||||| |||||||Curzon Street||||||| |||||||London W1J 5JB||||||| |Insurance
Brokers||||||Hettle Andrews||||||| |||||||Eleven Brindleyplace||||||| |||||||2 Brunswick
Square||||||| |||||||Brindleyplace||||||| |||||||Birmingham||||||| |||||||Bt 2LP||||||| |ADDRESS||||||||||||| |Palmers Green|||High|School||||||||| |104 Hoppers||Road||||||||||| |Winchmore|Hill|||||||||||| |London
N21||3LJ||||Web site||||.kkl|.|. k| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|/|||| |---|---|---|---|---|---|---|---|---| |INCOME|||Notes|Designated
funds||Restricted
funds
6|Total
2020
2|Total
2019f| |Income from charitable|activities|||||||| |Schoolfees
Other educafional
Income from investments|income|||3,220.085
84.5ST|||3,220,085
84,587|3,403,041
136,811| |Sub-lettings
Investment
inocme
Other Income||||27,619
104,788|||27,819
104,788|15,832
30,931| |Donations||||23,032.||19,i75|41,2'0'/|890| |Total Income||||3480 112||1$I76|347$,2$7|3,587,505| |EXPENDITURE||||||||| |Raising Funds||||||||| |Raising funds
Interest and other costs||||20,424
10,251|||20,424
1D,251|20,004
9,997| |Charitable
activities||||||||| |Schools and grantmaking||||3,134,648||(0)|3,134,646|3,205,659| |Total expenditure|||||||n|| |Net operating
income/(expenditure)||||294.792||18.175|312.967|351.845| |Other recognised
gains and losses||||||||| |Realised and unrealised
(loss)/gain
Foreign exchange gain/(loss)||on investments||(4,365)|||(4r365)|(76026)| |Net Income||||297.837||18,175|315.682|265,234| |Transfer between
funds||||||||| |Net movement
in funds||||207.507||16,175|315.682'|285,234| |Total funds brought
forward||||5,834597|||6;834,597|5,569,363| |Total funds carried forward|||20, 21|8,132,104||18175|6'150279|5$34,597| ## |mers Gre
CE SHEET
1 Jul
2020|e|n High School Limited|||| |---|---|---|---|---|---| ||||Notes|2020|2019| |||||8|| |FIXEDASSETS
Tangible assets|||12
13|2,340;398
r|2,«5,391| |Investments|||||| |||||6,381,687|5,395,111| |CURRENT ASSETS
Debtors|||18|65,696|67,797| |Cash atbank andin|hand||||| |||||'1,768,386|1,352,872| |CREDITORS Amounts||falling due within one year|17|(847JIZS)|(913,385)| ||||||439,488| |NET CURRENT LIABILITIES|||||| |TOTAL ASSETSLESSCURRENT LIABILITIES||||8,150,275|5,534,597| |NET ASSETS|||||| |FUNDS|||||| |Unrestncted
General
fund
Designated
fund|||15
18
20|3,702;398
2,340,368
107r487|3,281,719
2,445,391
107,487| |Rovoluotion
reserve|||||| |||||8165278|5,834,597| ## ## |lmers Green High School Limited
HFLOW STATEMENT
e
ear ended 31 Jul
2020|||| |---|---|---|---| |CASH FLOW STATEMENT|Notes|2020|2019| |||6|| |Net cash inflow from operating
activities|21|393.424|607.245| |Cash flows from investing
activities:|||| |Sank interest received|||| |Dividends
received
In!west element oflinance lease rental payments
Proceeds fmm sale ofinvestments
Payments
to acquire fixed assets
Payments
to acquire investments||80.065
24,723
(10,251)
562A27
(5SS30)
(723,500)|13.564
17,367
(9,997)
413,004
(90,965)
(1,516,122)| |Net cash outflow from investing
activities|||| |Cashf low from new borrowmgs|||500,000| |Net cash outflow from capital expenditure|||| |Increase/(decrease)
in cash||270,486|24,096| |Cash and cash equivalents
at the|||| |bsglnmng
ofthe reporting
period|||rirlsr| |Cash and cash equivalents
at the|||| |end ofthe reporting
penod|||| |Cash and cash equivalents:|||| |Cash at bank and
in hand
Cash held as part ofinvestment
portfolio||1,700,790
53,624|1,285,075
198,653| |Palmers Green High School Limited|Palmers Green High School Limited|Palmers Green High School Limited|| |---|---|---|---| |ACCOUNTING
POLICIES|||| |forthe||rended31
Jul
2020|| |1|ACCOUNTING
POLICIES
palmere
Gnmn
Higlr scbool Limited isa company
Irmiled
by guarantee
with registeretl
number 0537727, incorporated
and domimled
m England
and vvales.
Its ragislemd ogicsle palrnars
Green
High School, 104Hoppers Road, Wrnchmore
Hill, London,
N21 3LJ||| |1.1|ACCOUNTING
CONVENTION||| ||The flnandai sletemenls
have been prepared
In accordance
with the Ffrianclal
Reporting slenctsnl
appiwable
in Ihe UK and Repubfb of Ireland (FRS 102I.
The Charitabki
Company sa pubgc benegt entity forthe purposes
ofFRS1028ml therefore the Charity
also prepenxl
Os One ndal slate
ments
in acocrdancs
with the Siawmentof
Reccmmeaded
Pracycs appscable lo charEes preparing
Owlr accounts
In accordance with the Finsnrdal
Reporgng
Slandwd
spplicabie
In the UKand Republic of Ireland (The FRS 102Charities SORPL the Companies
Act 2006 and the Charities Act 2011.||| |||The financial
statements
are prepared
in sterling,
which
is the functional
currency
of the company.
Monetary
amounts
in these
frnandal
statements
are|| |||rounded to the nearest pound|| |||r ne rrnanoai
swmmenrs
have been preparec
on vw rsstonoar cosr convenuon,
mocrneo oy me recognwon
cr cenarn rnvestmenrs,
rnvesrmems
propemes,
and frnandai assets and Iablliam
measured
at fair value. The principal accounting
policies are set out below.
governors|| |14||GOING COISCERN
The
have assessed
whether
lhe use ofthe going concern basis ls sppmprla\8
and have considered
possible even w or cond bi one
that might cast
slgngi
cant duvet on Os ability
lo continue es8going concern. The budgegn 0 and torecssting
ravfavnN
by ths governors
has considered the impact of!he
coronavirus
panderrfn
The pupb numbers
have been strong however ws accepl there is sgy uncertainly
around
future pupg numbers.
Consfdemtka
hss
been given lo the value ot Ihe frweslments
held an the balance sheel and tlm
governors
bsoeva there is no Indfcatkm
there has been 8 permanent
change an
Ihe investment
valves as 8resrrit ofCcvrd fEAller making sppfoprisle
enquiries
the governors concluded
Ihsl the chargaMe company
remains
flnanclalIy
viable
Irl the long I'erm and will have adequate
rssources Iomeet Its ongolrrg llsbolges as Ihey fall due for Ihe period at least 12nxmlh fmm the date of
appnwal of these accounts. On that basis Ihs govemms
condudle
Ihat Ihe charitable company 88going concern and continues lo adopt the going concern|| |||besw lrr pmpenrlg
tliess flnwlclal
slal8frrergs.|| |1.3||FEESAND SIMILAR INCOME
Fees recenreble
and charges for services and use ofpremises are accounted
for rn the perirod
in which the service is provided
Fees receivable are stated
after deducting
allowances. scholarships
and other remissions
granted
by the school from its unrestricted
funds.|| |1.4||DONATIONS
AND GRANTS|| |||Doa Sons received for Ole general puqmses
ofthe scliool sre included
as unrestrlrfed
funds.
Donsgens
restricted
by the wishes ofIhe donor or the terms of
an appma
are taken
lo restriwed
funds.
Income
from government
or other
granls
is recognbed
when the charity
has entEement
to Ow funds,
any
performance
condiuons
abached tothe grant have been met,
O is probable the income will be received and the amount can be reliably messumd,|| |1.5||EXPENDITURE
Expenditure
rs accounted
for on an accruals basis and recognised
when there is a ccnstructrve
or legal obligation to pay for expenditure
Certarn expenditure
Governance
costs comprirse
the costs of running
the Trust,
mciudrng
strategic
planning
for rts future
development,
external
audit,
and
all other costs|of| |||complying
with constitutional
and statutory
requirements.|| |1.6||FIXEDASSETS
Tangible fixed assets are initially
measured
at cost and subsequently
measured
at cost or valuation,
net ofdeprewabon
and any impairment
losses.|| |||Depreciagon
is provided
on the original cost of sa tangible
fixed assets, except freehold
land, at rates calculated
to write offthe costs less estimated
residual|| |||value ofeach asset over rts expected
userur
tire as|| |||Freehold
buildings
Freehold
improvements
Furniture
and equipment
Computer
equipment
Motor vehicles
2% per annum
10% per annum
10% per annum
33.33% per annum
25% per annum|| |1.7||INI/ESTMENT
PROPERTIES
lnvestmenl
pmperty,
whfch is property
held to earn rentals
and/or tor capital appreciation,
is reassured
using the fair value model and stated at rts fair value
asfne reporilng end date. The surplus or deficit on revaluation
is recognised
in general reserves.|| |1.8||INVESTMENTS
Listed investments
are included
in the accounts at their market
value,
investment
properties
have been revalued
to their deemed
market value based on a|| |||professional
valuation
by a governor ofthe school.|| |1.3||CASH AND CASH EQUIVALENTS
cash and cash aquivafents
include cash fn hand, deposits
held at cae with banks,
other short-term
liquid investments
wrth
original
maturitres
ofthree months
orless, and bank ovenlrafls
Bank oumdrslts ere shown
within
borrowings
in current
liabilities.|| |2.0||FINANCIAL
INSTRUMENTS
The company has elected to apply the provisions
of Section 11 'Basic Financial
Instruments'
and Section 12'Other Financial
Instruments
Issues' ofFRS 102|| |||to all of its fmandal
instruments.|| |||Financial
instruments
are recognised
in the charitable company's
balance sheet when the chantabls
company
becomes party to the contractual
provisions|of| |||the instrument.|| |||BASrc FINANCIAL ASSETS
BasicOnanclal assets, which
Irwlude trade 8ed other receivables and cash and bank bakrnces. am iniSlliy measured
at Irarrsaogon
price rncludlng
transaction casts snd are subssquwloy
serried
8'Iamorbsed coal using Ihe effecdve fnlerest method
unless ths ansngemenl
constitutes
aflnandng
transscaon,
wham the fransacoon ls measured at the present value ofIhe future receipts dbcounted atamariret rate ofinterest.|| ## |for th|e
ear ended 31 Jul
2020||||| |---|---|---|---|---|---| ||OTHER FINANCIAL
ASSETS||||| ||Other financial assets, including
investments
in equity instruments
which are not subsidiaries,
assomates
orioint ventures,
are initially
measured|at fair|value,||| ||which
is normally
the transaction
price. Such assets are subsequently
carried at fair value
snd the changes
in fair value are recognised
in profit or|||loss,|| ||except that investments
in equity
instruments
that are not publicly
traded
and whose
fair values
cannot be measured
ratably
are measured|at cost||less|| ||impairment.||||| ||Trade debtors
loans and other receivables that have fixed or determmable
payments
that are not quoted
in an active market are classified as 'loans and||||| ||receivables'.
Loans and receivables are measured
at amortrsed cost using the effective interest method,
less any impairment.||||| ||Interest is recognised
by applying
the effective interest rate, except for short-term
receivables
when the recognition
of interest would be immaterial.|The|||| ||effective interest
method
isa method ofcalculating
the amortised cost ofa debt instrument
and ofallocating the interest income over the relevant
period.
effective interest rate rs the rate that exactly discounts estimated
future cash receipts through
the expected
life ofthe debt instrument
to the net carrying|||The|| ||amount on initial recogrlitlon.||||| ||IMPAIRMENT OF FINANCIAL ASSETS||||| ||Frnancial assets, other than those held at farr value through
profit and loss, are assessed for indicators ofimpairment
at each reporting
end date||||| ||Financial assets are impaired where there is oblective evrd ence that, as a result ofone or more events that occurred aqer the rnitial recognition
of|the|||| ||finanmal asset, the estrmated
future cash flows have been affected
The impairment
loss is recognised
in expenditure||||| ||BASIC FINANCIAL
LIABILITIES||||| ||Basic frnancial
liabilities,
includrng
trade and other payables
and bank loans, are initiagy recognised
at transactron
price unless the arrangement
constitutes||||a| ||frnanang
transaction,
where the debt instrument
rs measured
at the present value ofthe future payments
discounted
at a market rate ofinterest,||||| ||Debt instruments
are subsequently
carriied at amortised
cost, using the effective interest rate method.||||| ||Account payables are obligations
to pay for goods or services that have been acquired
in the ordinary course ofbusiness
from suppliers. Accounts
are classrfied as current
liabrlrties
ifpayment
is due within one year or less. Ifnot, they are presented
as non-current
liebilrtres. Trade payables are|payable
recognised|||| ||initially at transaction
price and subsequently
measured
at amortised
cost using the efFective interest method.||||| |1.10|TAXES||||| ||Under Section 505 ofthe Income and Corporation
Taxes Act 1055the Company
is exempt from certain taxes,
Full account is taken oftax credits
to covenants
and dividends.|attaching|||| |1.11|FUNDS HELD BYTHE SCHOOL ARE EITHER:||||| ||Unrestriicted
General Funds||||| ||These are funds which can be used
in accordance
with the charitable objects at the discretion
ofthe Governors,||||| ||Designated
Funds:||||| ||These are funds set aside bv the Governors
out ofunrestricted
qeneral
funds for specific future purposes
or proiects.||||| ||Restricted
Funds:||||| ||These are funds
held for specrfic purposes as specified
by the donor.||||| |1.12|OPERATING LEASES||||| ||Rentals payable under operating
leases are charged
on a straight
line basis over the lease term.||||| |1.13|PENSIONS||||| ||The school
contributes
to the Teachers'
Pension
Scheme,
a defined
benefit
scheme.
The funds
are held
independently
of the School's
funds.|||The|| ||accounting
policy follows the funding
policy and accounts
payable are charged to direct charitable
expenditure
soss to spread the cost of the pensions
the employees'
working
lives with the schooL The school also make contriibutions
to the personal
pension schemes for non teaching
statf,||over||| |I.I4|JUDGEMENTS AND KEYSOURCES OF ESTIMATION UNCERTAINTY||||| ||In the application
of the chariitable
company s accountmg
poliwes,
the governors
are required
to make judgements,
estvnates
and assumptions|about||the|| ||carrying
amount ofassets and liabilities that are not readily apparent
from other sources. The estimates
and associated
assumptions
are based on historical
experience and other factors that are considered
to be relevant. Actual results
may differ from these estimates,||||| ||The estimates
and underlying
assumptions
are reviewed
on an ongoing basis
Revisions to accounting
estimates
are recognised
in the periiod
in which the||||| ||estimate
is revised where the revision affects only that period, or in the period ofthe revision
and future periods where the revision affects both current and||||| ||future periods.||||| |1.15|CRITICAL JUDGEMENTS||||| ||The following judgements
(apart from those involving
estimates)
have had the most significant
effect on amounts
recognised
in the financial statements.||||| ||The School uses a relevant
local property
index to establish
the fair value of its investment
properties. The valuation
is based upon the key assumptions
of
estimated
rental values and market based yields.
In determining
fair value we make reference to market evidence and recent transaction
prices for similar||||| ||properties.||||| ||The school makes an estimate ofthe recoverable
value oftrade and other debtors, When assessing
impairment
oftrade and other debtors,
management
considers factors including
the current credit rabng ofthe debtor, the ageing profile ofdebtors and historical expenence. See note 10for the net carrying
amount ofthe debtors and associated
impairment
provision.||||| ## |2|FEE INCOME
The school's fee income comprised.|FEE INCOME
The school's fee income comprised.|FEE INCOME
The school's fee income comprised.||2020
6|2019
6| |---|---|---|---|---|---|---| ||Gross fees||||3,642,078|3,571,166| ||Lese Discounts||||(144,193)|(188145)| ||Less: Covid-19 Discounts||||(277,800)|| |3|OTHER EDUCATIONAL|INCOME|||2020|2019
f| ||Etdras and disbursements||||'78,387|127,680| ||Registration fees
Fees in lieu of notice||||6,200|6,375
1,758| ||Other income|||||1,000| |4|OTHER TRADING INCOME||||2020|2019| ||||||6|| ||Rent and l ettings||||27,619|15,832| |||||||15,632| ||Included
within the above|is|an amount of 8nil (2019:9nil) which relates to restncted|income||| |5|INVESTMENT INCOME||||2020
8|2019f| ||Interest received||||11,355|13,564| ||Interest received - histoncal
Dividend
income||repayment||68,710
24,723|17,367| ||||||104,788'|30931| ||heluded
within the above is||an amount oftn9 (2010:Enf) which rolotoc to restricted|income,||| |6|DONATIONS
AND GRANTS||||2020
8|2019
9| ||Donations
and gifls||||18,175|890| ||Government
grants||||23,032|| |Donations
and gifls| |---| |Government
grants| ## |Cf||||||| |---|---|---|---|---|---|---| |osts o Raising Fund|s||Staff costs|||Total| ||||(note 8)|Other|Depreciation|2020| |||||2|f|2| |Financing costs
Investment
Management|Fees|||10,251
20,424||10,251
20424| |Total Costs of Raising|Funds|||30,675||30,675| |Chaditable
expenditure|||Staff costs|||Total| ||||(note 9)
2|Other
f|Depreciation|2020| |Teaching
Welfare
Premises and Estates
Administration
Governance|||2.062,263
87,284
255,481|225.789
41.805
128.619
I54,054
18024|60,085
101,241|2,338,137
41,805
327,144
409,535
18024| |Total Charitable
Expenditure|||2405027|583.292|161326|| |TotalExpended|||2405027|598 967|161 328|BN65 320| |Included
within the chantable||expenditure|is an amount of218175(2019 2090) relating to restricted
expenditure,|||| |Costs ofRaising Funds|||Staff costs|||Total| ||||(note 8)
F.|Other
f|Depreciation
2|2019
f| |Financing costs
Investment
Management|Fees|||9,997
20 004||9,997
20 004| |Total Costs ofRaising Funds||||30001,||30,001| |Charitable
expenditure|||Staff costs|||Total| ||||(note 9)
2|Otherf|Depreciationf|2019| |Teaching
Welfare
Premises and Estates
Administration
Governance|||1,931,998
1S,BBS
78,'563'
249,947|297274
'89,274
t48,S91
'I78JI87
1BJ233|102,851
147,783|2,332,123
55,842
375,027
428,434
18233| |Total Charitable
Expenditure|||2277086|677959|250534|3205659| |TotalExpended|||2277 068|707960||| |(b)|Other Governance
Costs include:|2020|2019| |---|---|---|---| |||2|| ||Auditors'
remuneration||| ||- Audit Fees
-Accountancy
Fees|14,454
3,570|12,783
3,450| |(c)|Administration
Costs|2020
2|2019
2| ||Salaries
National
Insurance
Pension Costs
Subscriptions
Staff travel
Staff Umform
Postage and stationery
Telephones
Miscellaneous
- Administration
Bad debts
Legal and Professional
Fees
Other Administration
Costs
Other Finance|213,396
19,772
22 313
13,568
1,668
200
13,247
15,664
5,484
15,433
21,944
66,845
10,251|212,869
19,279
17,779
15,242
4,481
212
17,625
14,549
4,249
4,387
15,465
100,277
9,997| ## ## ||||||||| |---|---|---|---|---|---|---|---| |11
NET INCOME FOR THE YEAR|||||||| |Net income is stated after charging:||||||202Df|2019| |Depreciation
oftangible|fixed assets|||||161,326|250,634| |'l2
TANGIBLE FIXED ASSETS|||||||| |||||Furniture|||| |||Freehold|Freehold|&|IT|Motor|| |Cost:||Property
f|Improvementsf|Equipment|Equipment
f.|Vehicles
f|Total
E| |At 1 August 2019
Additions||3,429,D48|817,177
25,149|382,448
17,724|196,822
I3,460|35,842|4861135
56,333| |At 31 July 2020||3,429,046|842 326|400172|||| |Depremation:|||||||| |At 1 August 2019
Charge for year||1,257,865
68,581|809,792
32,660|337,771
39,149|174,476
20,936|35,841|2,415,744
161,326| |Al 31July 2020||1,326,448|642,452|376820|195.412|35,841|2,677,070.| |Net book value:|||||||| |At31 July2020|||||||| |At 1 August 2019||2,171 181|207385|'14 677|22,147|1|2445391| |3
INVESTMENTS|||||||| |||||Usted|||| |||||investmentsf|Propertyf|2020
E|2D19f| |Cost/valuation
At I August 2019
Additions
Disposals
Realised gainf(loss)
on investments
Unrealised
gain/(loss)
on investments
(Decrease)/increase
In cash||||1,382,D73
723,569
(562,427)
(30,D40)
25,685
(145,038)|1,567,647|2,949,720
723,569
(562,427)
(30,040)
25,685
(145,038)|1,895,989
1,516,122
(413,004)
(122,557)
46,531
26,639| |Costlvaluation
At 31 July|2020|||1,693822|1.567.647|2 961469|2 949,720| |UK equity
International
equity
Bonds
Other bated investments
Property
Cash||||27.227
2?0,682
BD5,484
436,805
53,824|1,567,647|27,227
270,682
605,484
436,805
1,567,647
53,624|19,973
380,005
481,824
321,618
t,ser,edr
198,853| ||||||1,5S7,6'47|2~864
69|2,949,720| |Investments
representing|more than 5%ofholding:||||||2020| |Invesco Physical
Gold
Blackrock Fl Global OPP D2 GBP HDG
New Capital GLB
Pimco Gbl Inv Grade Ins Inc GBP HGD
SPDR S&P500 ETF|||||Units|Value
861
B,D41
747
s,rre
324|96,170
70,017
81,648
81,059
79,822| |Historical cost.|||||||| |Property
Other investments|||||||2D20
1,46D,160
1,2Ã,188| ## ## |NOTE|S TO THE FINANCIAL ST|ATEMENTS||| |---|---|---|---|---| |for the|ear ended 31 Jul
2020|||| |14|DEBTORS||2020
8|2019f| ||Fees and extras
Less provision
for doubfful
Other debtors
Prepayments
and accrued|debts
income|50,350
It*5491
3,48$ 2L329|40.694
(9,5491
3.86'I
2S.791| |15|CREDITORS||2020|2019| ||Amounts
falling due within|one year:|5|5| ||Loans
Trade creditors
Taxation and social secudity costs
Fee Depoats
Feesin advance||600,000
20,813
43,791
238,000
4$,173|500,M0
28,716
48,570
219,5M
2IL773
49.035| ||Other creditors
Accruals||25,120|43,786| ||||917,978|913,386| |||2020|2019| |---|---|---|---| |Deferred|income:|5|| |Brought forwards
Released
in year
Received
in year||26,773
(2$,773)
4$,173|14,986
((4,958)
26.77S| ## ## ||||||Transfer||| |---|---|---|---|---|---|---|---| |||At 1 August 2D19|||Between|Gains/|At 31 July 2020| |Unrestncted
funds.|||Income
L|Expendituref|Funds|(losses)
2|| |General
reserve||3,281,719|3,460,112|(3,0D3,994)|(38,158)|2,715|3,702 394| |Designated
fund|||||||| |Deugnated
asset fund||2,445,391||(181,326)|56,333||2.340.398| |Total designated||2.445,391||(161,326)|56,333||2.340.398| |Revaluation
reserve||107.487|||||107.487| |Restricted funds:|||||||| |Restncted equipment|fund||18.175||i18.175)||| |Total restricted|||18,175||(18.175)||| |Totalfunds||5,834,597|3,478,287|(3,165,320)||2,715|8,150,279| ||||||Transfer||| |||At 1 August 2018|||Between|Gains/|At 31 July 2019| ||||Incomef|Expenditure|Funds
f|(losses)
2|| |Unrestncted
funds.|||||||| |General
reserve||2 751,585|3,586,615|(2,984 136)|I90.965)|18,620|3,281,719| |Designated
fund|||||||| |Designated
asset fund||2,805,06D||(250,634)|90965||2.445.391| |Total designated||2,605,06D||(250,634)|90,985||2,445,391| |Revaluation
reserve||212,718||||(105,231)|107,487| |Restncted
funds|||||||| |Restncted
equipment|fund||890|(890)|||| |Total restricted|||890|(890)|||| |Total funds||5,569,383|3,587,505|(3,235,660)||(86,811)|5,834,597| ## |ANALYSIS OF NET ASSETS BETWEEN FUNDS||||| |---|---|---|---|---| ||Unrestncted|Revaluation|2020|| ||funds|reserve|Total|| ||f|F|F.|| |Tangible fixed assets
Investments
Current assets
Current
liabilities|2,340,398
2 853,982
1,768,386
(917,975)|107,487|2,340,398
2,961,469
1766386
(917,975)|| |Total net assets||||| ||Unrestricted|Revaluation|2019|| ||fundsf|reserve|Tots|I| |Tangible fixed assets
Investments
Current assets
Current
liabilibes|2,445,391
2,842,233
1,352,872
(913,386)|107,487|2,445,391
2,949,720
1,352,872
(913,386)|| |Long term liabilities||||| |Total net assets|5,727,110|1D7,487|6834,697|| ||||2020|2019| |---|---|---|---|---| ||||Offic|Office| ||||equipment|equipment| |Due
Due|within one year
between
two and five years||4,784
2,040|3,764
3,764| ## ## |NOTESTOTHECASHFLOWSTA|TEMENT||| |---|---|---|---| |
Reconciliation
ofoperating
result to|net cash inflow from|2020f|2019
f| |operating
activities|||| |Net movement
in funds
Realised and unrealised
loss/(gain)
Depreciation
Bank interest received
Dividends
received
Interest payable
Increase/(Decrease)
in creditors
(Increase)/Decrease
m debtors|on investments|315,682
4,355
161,326
(80,065)
(24,723)
10,251
4,589
2,010|265,234
76,026
250,634
(13,564)
(17,367)
9,997
12,013
114,272|