2022-07-31-accounts - Krishnamurti Foundation Trust Ltd

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Trustees			Ms. G.A. Balleys —resigned 02 July	Ms. G.A. Balleys —resigned 02 July	Ms. G.A. Balleys —resigned 02 July	2022	2022
			Mr. D.A. Hook
			Mr. G. Primrose
			Mrs. W. Smith
			Mr. A. C Herron
			Ms. M Kuyper
Secretary			Mr. G. Primrose
Charity number			312865
(England	and Wales)
Company		number	1055588
Registered		office	Brockwood Park
			Bramdean
			Alresford
			Hampshire
			SO24 OLQ
Key personnel			Mr. A. Autor		Member ofSchool,		Centre, and Foundation					Management		Committee
			Mr. T. Lehmann		Co-Chair ofSchool Management						Committee
			Ms M. Masoumian		Bursar and Co-Chair			of School Management				Committee
			Mr. B.Taylor		Member ofCentre		and Foundation				Management		Committee
			Mr. R.Patel		Member ofCentre		and Foundation				Management		Committee
			Mr. T.Power		Member ofSchool		Management			Committee
			Mrs. K. Power		Member ofSchool		Management			Committee
Solicitors			Veale Wasbrough	Vizards LLP {VWV)
			With offices in London,		Watford, Bristol and			Birmingham
			Paris Smith
			1 London Road
			Southarnpton
			SO152AE
Banker			NatWest Bank Pic
			Winchester Old Bank
			105High Street
			Winchester
			Hampshire
			SO23 9AH
Auditor			Azets Audit Services
			Athenia House
			10-14Andover Road
			Winchester
			Hampshire
			SO23 7BS
Websites			Main School		www brockwood. or			.uk
			Small School		wwwimwoods,	or	.uk
			Foundation		www. kfoundation.		or	.uk
			Centre		www. knshnamurticentre.				or .uk
			Global		www. krishnamurti.		or

						Unrestricted	Restricted	Total	Total
						funds	funds
						2022	2022	2022	2021
					Notes		R
Income from:
Donations and	legacies					449,606	163,678	613,284	1,075,957
Deposit account interest						3,713		3,7'1 3	4,617
Income from charitable		activities				2,088,604		2,088,604	1,651,071
Totai income						2,541,923	163,678	2,705,601	2,?31,645
Charitable activities
Publicity						60,939		60,939	42,610
Royalties payable (including				KFA)		32,198		32,198	31,641
Irrecoverable school fees			and bad debts						36,566
Direct costs						882,010	33,096	915,106	?89,222
Food and household costs						178,635		178,635	149.385
Archive costs						4,275	316	4,591	3,377
Premises costs						351,150	40,609	391,759	349,661
Support costs						420,641	5,593	426,234	330,255
Depreciation						158,082	64,894	222,976	204,344
Governance costs						79,672		79,672	48,063
Total charitable expenditure						2,167,602	144,508	2,312,110	1,985,124
Total resources expended						2,167,602	144,508	2,312,110	1.985.124
Net incoming	resources		before
transfers						374,321	19,170	393,491	746,521
Gross transfers	between		funds		20	99,471	(99,471)
Net movement	in funds					473,792	(80,301)	393,491	746,521
Fund balances	at 1 August					5,390,907	2,324,818	7,715,725	6,969,204
Fund balances	at 31July					5,864,699	2,244,517	8,109,216	7,715,725

								2022		2021
					Notes
Fixed assets
Tangible assets					10				4,317,676		4,341,962
Investments					11				100		100
									4,317,776		4,342,062
Current assets
Stocks					12		33,664			32,635
Debtors					13		125,750			489,604
Investrncnts					14		518,596			516,598
Cash at bank and in		hand				4,724,967				3,850,694
						5,402,977				4,889,531
Creditors:	amounts	falling		due within
one year						{1,137,132)				(941,255)
Net current	assets								4,265,845		3,948,276
Total assets less current				liabilities					8,583,621		8,290,338
Creditors:	amounts	falling		due after
more than	one year				16				(411,666)		{530,833)
Provisions	for liabilities				17				(62,739)		(43.780)
Net assets									8,109,216		7,715,725
Income funds
Restricted	funds				20				2,244,517		2,324,818
Unrestricted funds
General unrestricted		funds			21	3,459,381				3,303,625
Designated	unrestricted		funds		21	2,405,318				2,087,282
									5,864.699		5,390,907
									8,109,216		7,715,725
The financial statements			were approved		by the Trustees	on	I...L.. .L.. . . ...
Mr. G. Primrose					Mrs. W. S			ith
Trustee					Trustee

				Notes
Income from:
Donations and legacies
Deposit account interest
Income from charitable	activities
Total income
Ex enditure on."
Charitable activities
Publicity
Royalties payable (including			KFA)
Irrecoverable school fees		and bad debts
Direct cost
Food and household costs
Archive costs
Premises costs
Support costs
Depreciation
Governance costs
Total charitable expenditure
Total resources expended
Net incoming/(outgoing)			resources
before transfers
Gross transfers between		funds		20
Net movement in funds
Fund balances at 1 August
Fund balances at 31July

Unrestricted	Restricted	Total
funds	funds
2021	2021	2021
E
882,233	193,724	1,075,957
4,617		4,617
1,651,071		1,651,071
2,537,921	193724	2 731 645
42,610		42,610
31,641		31,641
36,566		36,566
758,285	30,937	789,222
149,385		149,385
3,377		3,377
327,464	22,197	349,661
326,266	3,989	330,255
138,545	65,799	204,344
47,993	70	48,063
1,862,132	122,992	1,985,124
1,862,132	122,992	1,985,124
675,?89	70,732	746,521
126,698	(126,698)
802,487	(55,966)	746,521
4,588,420	2,380,784	6,969,204
5,390,907	2,324,818	7,715,725

					2022		2021
				Notes	R		K
Cash flows from operating activities Cash generated from operations				25		1,175,923		780,580
Investing		activities
Increase	in current asset investments				(1,998)		(4,220)
Purchase		oftangible fixed assets			(198,818)		(122,111)
Proceeds		from sale oftangible tixed assets			7,500
Net cash		used in investing	activities			(193,316)		(126,331)
Financing Proceeds		activities on new loan					650,000
Repayment		of loan			(108,334)		(30,000)
Net cash		used in financing	activities			(108,334)		620,000
Net increase in cash and cash equivalents						874,273		1,274,249
Cash and		cash equivalents	at beginning	of year		3,850,694		2,576,445
Cash and		cash equivalents	at end of	year		4,724,967		3850694

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds	2022	funds	funds	2021
		2022	2022		2021	2021
Donations	and gifts	239,825	163,678	403,503	315,388	193,544	508,932
Legacies	receivable	209,781		209,781	566,845	180	567.025
		449,606	163,678	613,284	882,233	193,724	1,075.957
Analysed	by funds

nalysed by funds
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds	2022	funds	funds	2021
	2022f	2022	f	2021	2021 E.
Donations and gifts
Main School	48,718	155,577	204,295	36,972	177,348	214.320
Inwoods Small School	1,328	200	1,528	1,350	425	1,775
Foundation	139,156	7,901	147,057	244,392	15,771	260,163
Adult Study Centre	50,623		50,623	32,674		32,674
	239,825	163,678	403,503	315,388	193,544	508,932
Legacies receivable
Main School	200,409		200,409	189,376	180	189,556
Inwoods Small School				5,719		5,719
Foundation	9,372		9,372	371,750		371,750
Adult Study Centre
	209.781		209,781	566,845	180	567,025

Charitable activities income
	Note	Unrestricted	Total	Unrestricted	Total
		funds		funds
		2022	2022	2021	2021
			K		R
School fees Board and lodging Royalties Trading activities		1,675,858 169,068 107,674 14,851	1,675,858 169,068 107,674 14,851	1,255,472 51,195 68,115 13,365	1,255,472 51,195 68,115 13,365
Recoveries from staff and students Government grants Other income	18	60,418 39,753 20,982	60,418 39,753 20,982	63,612 144,504 54,808	63,612 144,504 54,808
		2,088,604	2,088,604	1,651,071	1,651,071

Analysed by funds
	Unrestricted	Total	Unrestricted	Total
	funds	2022	funds	2021
	2022		2021
Main School Inwoods Small School Foundation Adult Study Centre	1,695,782 76,912 125,702 190,208	1,695,782 76,912 125,702 190,208	1,437,237 27,382 91,500 94,952	1,437,237 27,382 91,500 94,952
	2,088,604	2,088,604	1,651,071	1 651 071

Charitable activities exp	enditure analysed	by funds
	Unrestricted funds	Restricted funds	Total 2022	Unrestricted funds	Restricted funds	Total 2021
	2022	2022f		2021	2021 R
Main School Inwoods Small School Foundation Adult Study Centre	1,483,312 104,116 266,557 313,617	127,826 2,102 14,580	1,611,138 106,218 281,137 313,617	1,286,295 74,469 228,552 272,816	118,934 4,058	1,405,229 74,469 232,610 272,816
	2,167,602	144,508	2,312,110	1,862,132	122,992	1,985,124

			Support	Governance	2022	Support	Governance	2021
			costs	costs		costs	costs
					K	E	E
Staff costs			165,280		165,280	132,872		132,872
Communications			9,981		9,981	11,890		11,890
Traveliing and motor			7,076		7,076	12,164		12,164
Insurance			32,552		32,552	31,795		31,795
irrecoverable VAT			107,732		107,732	49,883		49,883
Stationery and office costs			56,117		56,117	60,921		60,921
Loan interest paid			19,183		19,183	11,038		11,038
Other costs			28,313		28,313	19,692		19,692
Audit and accountancy				16,405	16,405		9,583	9,583
Legal and professional	fees			63,267	63,267		38,480	38,480
			426,234	79,672	505,906	330,255	48,063	378,318
Net movement in funds							2022	2021
Net movement in funds is stated after charging/(crediting)
Fees payable to the charitable			company's	auditor for the	audit ofthe
charitable company's	financial		statements				10,500	9,750
l3epreciation ofowned	tangible		fixed assets				222,975	204,344
Profit on disposal oftangible		fixed assets					(6,964)

The average monthly number of full-time equivalent empl	oyees during the year was:
	2022	2021
	Number	Number
Teaching and support	45	45
Promotion and publicity	0	1
Management and administration	9	10
	54	56
Employment costs	2022	2021 f.
Wages and salaries Social security costs Other staff costs	909,988 62,485 17,060	804,763 41,515 25,423
Pension costs	16,007	12,276
	1,005,540	883,977

Tangible	Assets
			Land and	Plant and	Total
			buildings	machinery
Cost
At 1 August 2021			7,198,813	950,277	8,149.090
Additions			41,770	157,048	198,818
Disposals				~23,882	~23.882
At 31 July	2022		7,240,583	1,083,443	8,324,026
Depreciation and impairment
At 1 August 2021			3,041,635	765,493	3,807,128
Depreciation charged		in the year	143,166	79,809	222,975
Depreciation eliminated				(23,753)	(23,753)
At 31 July	2022		3,184,801	821,549	4,006,350
Carrying	value
At 31 July	2022		4,055,782	261.894	4,317,676
At 31 July	2021		4,157,178	184,784	4,341,962

12	Stocks			2022	2021
	Stock for fuel			10,009	8,980
	Goods for resale			23,655	23,655
				33,664	32,635
13	Debtors			2022	2021
	Amounts falling due within	one year:		R
	School fees recoverable			32,583	39,291
	Trade debtors			33,653	60,813
	Amount owing from subsidiary Other debtors			1,158 58,356	1,158 388,342
				125,750	489,604
14	Current asset investments			2022f	2021 f
	Cash held in deposit accounts	with maturity	over 90days	518,596	516,598
15	Creditors: amounts falling due within one		year	2022	2021
	Trade creditors			88,671	104,703
	Taxes and social security			64,194	8,216
	School fees in advance			710,597	573,021
	Fee and textbook deposits Other creditors and accruals			104,427 39,243	92,982 43,166
	Coronavirus interruption loan			130,000	119,167
				1,137,132	941,255

	The CBILloan is secured	by a fixed and floating charge over the properties	and undertakings of the
	charitable company.
17	Provisions for liabilities	and charges
				2021
	Provision for staff ieavin
	Balance at 1 August 2021		43,780	55,155
	Used in the year		(19,898)	(41,889)
	Charge for the year		38,857	30,514
	Balance at 31 July 2022		63,739	43,780

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for any wrongful act (as defined in	for any wrongful act (as defined in	the policy)	in their capac	ity as a governor, princ	ipal, officer or	employee.
Cash generated from operations					2022 K	2021 f
Surplus for the year					393,491	746,521
Adjustments for:
Depreciation and impairment of	tangible fixed		assets		222,976	204,344
Increase/(decrease) in provision					18,959	(11,375)
Profit on disposal oftangible fixed		assets			(7,372)
Movements in working capital:
(Increase) in stock					(1,029)	(8,410)
(Increase)/decrease in debtors					363,854	(278,178)
Increase in creditors due within one year					185,044	127,678
Cash (absorbed by)/generated	from operations				1,175,923	780,580
Analysis ofchanges in net debt				1 August 2021	Cash flows	31July 2022
					K
Cash at bank and in hand				3,850,694	874,273	4,724,967
Borrowings including Goronavirus		interruption	loan	(650,000)	108,334	(541,666)
				3,200,694	982,607	4,183,301