2021-07-31-accounts - Krishnamurti Foundation Trust Ltd

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Trustees						Ms. G. A. Balleys	Ms. G. A. Balleys
						Mr. D.A. Hook
						Mr. G. Primrose
						Mrs. W. Smith
						Mr. A. C Herron
						Ms. M Kuyper
Secretary						Mr. G. Primrose
Charity number			(England		and Wales)	312865
Company	number					1055588
Registered		office				Brockwood Park
						Bramdean
						Alresford
						Hampshire
						SO24 OLQ
Professional		advisors		and	key personnel	Mr. A. Autor			Principal
						Ms M. Masoumian			Bursar
						Mr. B.Taylor			Development
						Mr. N. Shamim			Foundation
						Mr. T.Lehmann			Main School (Brockwood Park School)
						Mrs. K.Power			Inwoods	Small School
Solicitors						Veale Wasbrough		Vizards LLP		(VWV)
						With offices in London,			Watford,	Bristol, Birmingham
						Paris Smith
						1 London Road
						Southampton
						50152AE
Banker						NatWest Bank Pic
						Winchester Old	Bank
						105 High Street
						Winchester
						Hampshire
						SO23 9AH
Auditor						Azets Audit Services
						Athenia House
						10-14Andover	Road
						Winchester
						Hampshire
						SO23 TBS
Websites						Main School			r 'o	k.rood 912 rik
						Small School
						Foundation
						Centre
						F.O.B
						Global				ir rk n-

							Unrestricted	Restricted	Total	Total
							funds	funds
							2021	2021	2021	2020
						Notes	f		6	f
Income from:
Donations and legacies							882,233	193,724	1,075,957	1,459,794
Deposit account		interest					4,617		4,617	9,244
Income from charitable			activities				1,651,071		1,651,071	1,860,331
Total income							2,537,921	193,724	2,731,645	3,329,369
~Ed i
Charitable activities
Conferences										5,416
Charitable trading		costs								14,250
Pubhcity							42,610		42,610	59,872
Royalties payable		(including			KFA)		31,641		31,641	28,459
Irrecoverable school fees and bad debts							36,566		36,566	745
Direct costs							758,285	30,937	789,222	983,489
Food and household costs							149,385		149,385	177,731
Archive costs							3,377		3,377	856
Premises costs							327,464	22,197	349,661	387,010
Support costs							326,266	3,989	330,255	355,609
Depreciation							138,545	65,799	204,344	202,634
Governance costs							47,993	70	48,063	32,969
Total charitable		expenditure					1,862,132	122,992	1,985,124	2,249,040
Total resources		expended					1,862,132	122,992	1,985,124	2,249,040
Net incoming/(outgoing)				resources
before transfers							675,789	70,732	746,521	1,080,329
Gross transfers	between		funds			20	126,698	(126,698)
Net movement	in funds						802,487	(55,966)	746,521	1,080,329
Fund balances at		1 August		2020			4,588,420	2,380,784	6,969,204	5,888,875
Fund balances	at 31July			2021			5,390,907	2,324,818	7,715,725	6,969,204

							Unrestricted	Restricted	Total
							funds	funds
							2020	2020	2020
						Notes	6	6	6
Income from:
Donations and legacies							565,455	894,339	1,459,794
Deposit account		interest					9,244		9,244
Income from charitable			activities				1,860,331		1,860,331
Total income							2,435,030	894,339	3,329,369
~Edit
Charitable activities
Conferences							5,416		5,416
Charitable trading		costs					14,250		14,250
Pubhcity							59,872		59,872
Royalties payable		(including			KFA)		28,459		28,459
Irrecoverable school fees and bad debts							745		745
Direct cost							979,965	3,524	983,489
Food and household costs							177,731		177,731
Archive costs							52	804	856
Premises costs							386,999	11	387,010
Support costs							341,160	14,449	355,609
Depreciation							131,314	71,320	202,634
Governance costs							31,062	1,907	32,969
Total charitable		expenditure					2,157,025	92,015	2,249,040
Total resources		expended					2,157,025	92,015	2,249,040
Net incoming/(outgoing)				resources
before transfers							278,005	802,324	1,080,329
Gross transfers	between		funds			20	122,559	(122,559)
Net movement	in funds						400,564	679,765	1,080,329
Fund balances at		1 August		2019			4,187,856	1,701,019	5,888,875
Fund balances	at 31July			2020			4,588,420	2,380,784	6,969,204

						2021		2020
					Notes	6		6
Fixed assets
Tangible assets					10		4,341,962		4,424,195
Investments					11		100		100
							4,342,062		4,424,295
Current assets
Stocks					12	32,635		24,225
Debtors					13	489,604		211,426
Investments					14	516,598		512,378
Cash at bank and		in	hand			3,850,694		2,576,445
						4,889,531		3,324,474
Creditors:	amounts		falling due within
one year					15	(941,255)		(724,410)
Net current	assets						3,948,276		2,600,064
Total assets less		current liabilities					8,290,338		7,024,359
Creditors: amounts			falling due after
more than	one year				16		(530,833)
Provisions	for liabilities				17		(43,780)		(55,155)
Net assets							7,715,725		6,969,204
Income funds
Restricted funds					20		2,324,818		2,380,784
Unrestricted	funds
General unrestricted			funds		21	3,303,625		3,055,030
Designated	unrestricted			funds	21	2,087,282		1,533,390
							5,390,907		4,588,420
							7,715,725		6,969,204

					2021			2020
				Notes	6
Cash flows from operating			activities
Cash generated from operations				27		780,580			979,293
Investing		activities
Increase	in current asset investments				(4,220)		(512,378)
Purchase		oftangible fixed assets			(122,111)		(63,271	)
Net cash		used in investing	activities			(126,331)			(575,649)
Financing		activities
Proceeds		on new loan			650,000
Repayment		of loan			(30,000)		(60,000)
Net cash		used in financing	activities			620,000			(60,000)
Net increase in cash and cash equivalents						1,274,249			343,644
Cash and		cash equwalents	at beginning	ofyear		2,576,445			2,232,801
Cash and		cash equivalents	at end of	year		3,850,694			2,576,445

			Unrestricted	Restricted	Total	Total
			funds	funds
			2021 f	2021f	2021f	2020f
Donations	and gifts		315,388	193,544	508,932	476,567
Legacies receivable			566,845	180	567,025	983,227
			882,233	193,724	1,075,957	1,459,794
For the year		ended 31 July 2021	565,455	894,339		1,459,794
Analysed	by funds
			Unrestricted	Restricted	Total	Total
			funds	funds
			2021 f	2021 f	2021f	2020 f
Donations		and gifts
Main School			36,972	177,348	224,320	243,452
Inwoods Small School			1,350	425	1,775	3,151
Foundation			244,392	15,771	250,163	186,906
Adult Study		Centre	32,674		32,674	43,058
			315,388	193,544	508,932	476,567
Legacies	receivable
Main School			189,376	180	189,556	671,676
Inwoods Small School			5,719		5,719
Foundation			371,750		371,750	300,652
Adult Study		Centre				10,899
			566,845	180	567,025	983,227

		Note	Unrestricted	Total	Unrestricted	Total
			funds	2021	funds	2020
			2021f		2020 6
School fees			1,255,472	1,255,472	1,461,025	1,461,025
Board and lodging			51,195	51,195	151,435	151,435
Royalties			68,115	68,115	85,490	85,490
Trading activities			13,365	13,365	17,314	17,314
Recovenes from staff and
students			63,612	63,612	52,717	52,717
Government	grants	18	144,504	144,504	78,014	78,014
Other income			54,808	54,808	14,336	14,336
			1,651,071	1,651,071	1,860,331	1,860,331

		Unrestricted	Total	Unrestricted	Total
		funds	2021	funds	2020
		2021		2020
		6	6	6
Main School		1,437,237	1,437,237	1,512,842	1,512,842
Inwoods	Small School	27,382	27,382	149,204	149,204
Foundation		91,500	91,500	102,751	102,751
Adult Study Centre		94,952	94,952	95,534	95,534
		1,651,071	1,651,071	1,860,331	1,860,331

	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds	2021	funds	funds	2020
	2021 6	2021 6		2020 6	2020f
Main School	1,286,295	118,934	1,405,229	1,381,193	80,777	1,461,970
Inwoods Small School	74,469		74,469	255,230		255,230
Foundation	228,552	4,058	232,610	242,554	11,238	253,792
Adult Study Centre	272,816		272,816	278,048		278,048
	1,862,132	122,992	1,985,124	2,157,025	92,015	2,249,040

6	Support and g	overna	nce co	sts
				Support	Governance		2021	Support	Governance	2020
				costs	costs			costs	costs
				6		8		6	f
	Staff costs			132,872			132,872	128,763		128,763
	Communications			11,890			11,890	13,877		13,877
	Travelling and	motor		12,164			12,164	30,794		30,794
	Insurance			31,795			31,795	29,238		29,238
	Irrecoverable VAT			49,883			49,883	55,330		55,330
	Stationery and	office costs		60,921			60,921	60,182		60,182
	Loan interest paid			11,038			11,038	1,895		1,895
	Other costs			19,692			19,692	35,530		35,530
	Audit and accountancy				9,583		9,583		11,650	11,650
	Legal and professional		fees		38,480		38,480		21,319	21,319
				330,255	48,063		378,318	355,609	32,969	388,578
7	Net movement	in funds							2021 6	2020f
	Net movement	in funds is stated after charging/(crediting)
	Fees payable to the charitable			company's	auditor for	the	audit of the
	charitable company's		financial	statements					9,750	9,500
	Depreciation of	owned	tangible	fixed assets					204,344	202,634

The average monthly number offull-time equivalent emplo	yees during the year was:
	2021	2020
	Number	Number
Teaching and support	45	59
Promotion and publicity	1	1
Management and administration	10	11
	56	71
Employment costs	2021	2020
Wages and salaries	804,763	966,269
Social security costs	41,515	51,142
Provision for staff leaving	25,423	21,320
Other pension costs	12,276	14,770
	883,977	1,053,501

Tangible	Assets
			Land and	Plant and	Total
			buildings	machinery
			6
Cost
At 1 August 2020			7,198,813	828,166	8,026,979
Additions				122,111	122,111
At 31 July	2021		7,198,813	950,277	8,149,090
Depreciation and impairment
At 1 August 2020			2,898,241	704,543	3,602,784
Depreciation charged		in the year	143,394	60,950	204,344
At 31 July	2021		3,041,635	765,493	3,807,128
Carrying	value
At 31 July	2021		4,157,178	184,784	4,341,962
At 31 July	2020		4,300,572	123,623	4,424,195

12	Stocks
							2021 E	2020f
	Stock for fuel						8,980	9,326
	Goods for resale						23,655	14,899
							32,635	24,225
13	Debtors
							2021	2020
	Amounts falling due within				one year:		E	E
	School fees recoverable						39,291	131,249
	Trade debtors						60,813	42,792
	Amount owing from	subsidiary					1,158	1,158
	Other debtors						388,342	36,227
							489,604	211,426
14	Current asset investments
							2021f	2020 E
	Cash held m deposit	accounts			with maturity	over 90days	516,598	512,378
15	Creditors: amounts	falling		due within one		year
							2021	2020
							E	E
	Trade creditors						104,703	33,605
	Amounts owing to KFA							6,022
	Taxes and social security						8,216	25,510
	School fees in advance						573,021	406,840
	Fee and textbook deposits						92,982	118,300
	Loan from A G Educational			Trust				30,000
	Other creditors and	accruals					43,166	104,133
	Coronavirus interruption		loan				119,167
							941,255	724,410
16	Creditors: amounts	falling		due after more		than one year
							2021	2020
	Coronavirus interruption		loan				530,833
	The CBIL loan is secured		by the assets ofthe company.

Provisions for liabilities and charges	Provisions for liabilities and charges
		2021	2020
		E	E
Provision	for staff leavin
Balance	at 1"August 2020	55,155	52,060
Used in	the year	(41,889)	(18,360)
Charge for the year		30,514	21,455
Balance	at 31"July 2021	43,780	55,155

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27	Cash generated from	Cash generated from	operations	operations					2021	2020f
	Surplus for the year								746,521	1,080,329
	Adjustments for:
	Depreciation and impairment of			tangible	fixed		assets		204,344	202,634
	Increase/(decrease)	in	provision						(11,375)	3,095
	Movements in working		capital:
	(Increase)/decrease	in	stock						(8,410)	641
	(Increase)/decrease	in	debtors						(278,178)	(48,129)
	Increase/(decrease)	in	creditors	due within		one year			127,678	(259,277)
	Cash (absorbed by)/generated			from operations					780,580	979,293
28	Analysis ofchanges		in net debt
								1 August 2020	Cash flows	31July 2021
								8	8	8
	Cash at bank and in	hand						2,576,445	1,274,249	3,850,694
	Borrowings including	Coronavirus		interruption			loan	(30,000)	(620,000)	(650,000)
								2,546,445	654,249	3,200,694