2020-08-31-accounts - Thomas Heatherley Educational Trust

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		Page
Directors' and Trustees'	Report	3-12
Independent Auditor's	Report	13 - 14
Statement of Financial	Activities
Balance Sheet
Statement ofcash flows		17
Notes to the Accounts		18-28

72
Col. D BWaddell —Chair —Resigned	27/08/2020
R Sharp
SG BBartley —Resigned 27/08/2020
R Hazlewood —Resigned 27/08/2020
A Thompson —Resigned 27/08/2020
J Gordon Clark —Resigned 27/08/2020
SBalhetchet —Resigned 27/08/2020
RWilson
D Todd OBE —Acting Chair
N Gage - Appointed 27/08/2020
W J Packer - Appointed 27/08/2020
S Engledow -Appointed 27/08/2020
JW Eagle —Appointed 27/08/2020
J Murray -Appointed 27/08/2020
P E Driscoll —Appointed 27/08/2020

				Unrestricted	Restricted
			Notes	Fundsf	Funds f.	2020 E	2019
Income
Donations and legacies					148,258	148,258	42,934
Income from charitable activities			3	840,843		840,843	1,151,756
Income from other trading	activities		4	24,473		24,473	39,464
Investment income			5	29,505		29,505	24,396
Total Income				894,821	148,258	1,043,079	1,258,550
Expenditure
Cost of raising funds			6	25,174		25,174	39,000
Expenditure on charitable	activities		6	989,695	164,555	1,154,250	1,183,007
Total expenditure				1,014M 9	164,555	1,179424	L,222DQT,
Net Income/(expenditure)	&net movements	In
funds before gains &losses on Investments				(120,048)	(16,297)	(136,345)	36,543
Net gains I(losses) on investments			12	27,422		27,422	9,500
Net movement In funds				(92,626)	(16,297)	(108,923)	46,043
Reconciliation offunds
Total funds, brought forward				5,569,359	50,232	5,619,591	5,573,548
Total funds, carried forward				5,476,733	33,935	5,510,668	5,619,591

							Notes							2019
										6		6	6
Fixed assets
Tangible fixed	assets						11	3,763,943				3,868,660
Investments							12		928,509				884,076
											4,692,452			4,752,736
Current assets
Stocks							13			8,481			8,042
Debtors							14		29,121				23,463
Cash at bank	and	in	hand						911,372			1,19B,332
									948,974			1,227,837
Liabilities
Creditors falling due			within one year				15		(130,758)				(360,982)
Net current assets											818,216				8B6,855
Net assets											5 519,B65			5,619,591
The funds ofthe		charity
Unrestricted funds:
General							16				4,384,356			4,437,314
Designated							16				1,092,377			1,132,045
Restricted funds							16				33,935				50,232
Total charity	funds										5.519.665			5.619,591
The Trustees the Charities	have prepared accounts In accordance with Section 398 Act 2011. These accounts are prepared In accordance										ofthe Companies with the special		Act 2006 provisions	and Section 138of of Part 15of the
Companies Act relating				to small	companies		and constitute			the annual	accounts	required	by the Companies		Act 2006
and are for circulation			to	members	of	the company.

			2020	2019
			8	6
Net cash generated from / used	In operating	activities	295,774	139,957
Cash flows from investing activities
Dividend and interest Income			29,505	24,396
Purchase oftangible lixed assets			(1,680)	(9,711)
Purchase of investments			(26,155)	(4,152)
Additions to / withdrawals from cash held within		investments	9,144	(6,816)
Cash provided by investing activities			10,814	3,717
Increase In cash &cash equivalents in the year			284,960	143,674
Cash &cash equivalents at the beginning ofthe year			1,196,332	1,052,658
Total cash &cash equivalents	at the end ofthe year		311312.	1,196,332
Reconciliation of net movement	In funds to	net cashflow from operating	activities:
			2020	2019
			F	p
Net movement in funds			(108,923)	46,043
Add back depreciation			106,147	105,800
Deduct dividend and interest income from Investments			(29,505)	(24,396)
Deduct gains / add back losses on investment			(27,422)	(9,500)
Deduct gains / add back losses on disposal offixed assets			250
Decrease / (increase) In stock			(439)	4,273
Decrease / (increase) in debtors			(5,658)	(8,680)
Increase / (decrease) in creditors			(230,224)	26,417
Net cash generated from / used	In operating	activities	295,774	139,957

DONATIONS AND L	EGACIES
			Restricted
			Funds f	2020 f	2019f
The Arts Society					3,000
The De Laszlo Foundation					8,950
Golden Bottle Trust			10,000	10,000	10,000
The Michael Marks Charitable		Trust	8,950	8,950	8,950
The Mohamed S.Farsi Foundation					10,000
Worlds End Studios					1,000
Other donations &f1,000			2,107	2,107	1,034
HMRC Job Retention	Scheme		127,201	127,201
			148.268	148,288	42,934

Unrestricted
Funds f	2020 f	2019f
840,843	840,843	1,151,756
840,843	840,843	1,151,756

INCOME FROM OTHER TRADING ACTIV	ITIES
	Unrestricted
	Fundsf	2020f	2019f
Shop income	18,172	18,172	29,032
Car parking fees	3,770	3,770	5,408
Other income	2,531	2,531	5,024
	24,473	24473	38,,464

apportioned	to	the vari	ous	charitable activiti	es on the basis of	staff time allocated	to each activity.
					General	Governance
					supportf	functionf	2020	2019f
Finance and	administration			staff costs			164,844	163,044
Management		staff					3,833	3,743
Premises costs					14,284		14,284	14,144
Depreciation					10,615		10,615	10,580
Communication		costs			10,147		10,147	10,738
Information	technology				9,557		9,557	10,440
Insurance					10,670		10,670	9,694
Bank charges					10,189		10,189	13,949
Legal and professional			costs		13,531	1,441	14,972	12,675
Bad debts								4,558
Sundry costs					3,860		3,860	4,434
Audit fees						6,600	6,600	6,600
					247 696	11,874	285270	284699

NET INCOMEI(EXPENDITURE) FOR THE YEAR This is stated after charging:
	2020	2019
		E
Depreciation oftangible fixed assets	106,147	105,800
Operating lease - copier	3,934	4,042
Auditors' remuneration —audit offinancial statements	6,600	6,600

STAFF	COSTS	2020	2019
		6	6
Salaries		676,052	678,819
National	Insurance	40,751	39,133
Pension		9,677	7,698
		726,460	726660

		2020	2019
Management		1.5	1.5
Direct staff		17.5	18.0
Administrative	and support	5.5	5.5
		24.5	25.0

TANGIBLE FIXEDASSETS
	Freehold	Fixtures,
	Interest ln land	fittings and
	and buildings	equipment	Total
	E	E	6
Cost:
As at 1 September 2019	4,956,822	102,131	5,058,953
Additions		1,680	1,680
Disposals		(4,431)	(4,431)
As at 31August 2020	4,956,822	99,380	5,056,202
Depreciation:
As at 1 September 2019	1,114,777	75,516	1,190,293
Dlsposals		(4,181)	(4,181)
Charge for the year	99,136	7,011	106,147
As at 31 August 2020	1,213,913	78,346	1,292,259
Net book value:
As at 1 September 2019	3,842,045	26,615	3,888,680
As at 31 August 2020	3,742,909	21,034	3,763,943

					2020	2019
					8	F
Quoted Investments
Market value,	brought		forward		871,448	857,798
Additions					26,155	4,152
Unrealised gain /(loss)			.		27,422	9,500
Market value,	carried forward				925,025	871,448
Cash held as	part of portfolio				3,484	12,628
Total Investments					928,8119	M4816,
Historic cost					863.118	826,963
Market value	analysed		by type	of Investments:
					2020	2019
					E	E
UK Equites UK bonds					92,569 174,787	93,139 174,016
Foreign equities Foreign bonds					263,743 171,099	278,061 101,375
Gold and gold	equities				64,217	56,043
llliquid strategies Multi-asset funds		and options			69,925 7,120	47,941 11,395
Hedge funds Property Commodities					14,584 12,346	9,135 13,631 6,489
Other					9,289	8,180
Cash held within		the investment		portfolio	48,850	84,671
Market value	as at 31		August 2020		928,509	884,076
STOCK
					2020	2019
					E	E
Shop stock					8,481	8,042
					8481	8,042
DEBTORS
					2020f	2019 E
Trade debtors					14,637	8,949
Other debtors						687
Prepayments	and	accrued income			14,484	13,827
					29,121	23,463

CREDIT	'ORS: amounts falling due within one year
		2020	2019
		E	E
Trade crediiom		25,608	18,074
Taxation	and social security	7,017	9,237
Deferred	income (note 18)	88,757	314,928
Other creditors		2,495	2,714
Accruals		6,881	16,029
		130,758	360,982

MOVEMENT IN FU	N	DS
			Balance			Gains/			Balance
			at 01.09.19	Income	Expenditure	(losses)		Transfers	at 31.08.20
			6	6	6		6	9	6
Restricted funds:
Prizes Fund			8,298	600					8,898
Bursary Fund			41,934	20,457	37,354				25,037
HMRC Job Retention		Scheme	-	127,201	127,201
			50,232	148,268	154565				33,935
Unrestricted funds:
Designated funds
Bursary Fund			133,929		39,668				94,261
Building Maintenance		Fund	255,000						255,000
New Building Fund			743,116						743,116
			1,132,045		39,668				1,092,377
General funds 7 t 10 th 4&	7	0	4,437,314 9,759,369	894,821 BQ4,821	975,202 1 014689	27,422 27422,			4,384,356 5,476,733
Total funds			5,619,691	1,043,079	1,179424	27422			5,510,668
Movement in funds		—previous	year
			Balance			Gains/			Balance
			at01.09.18	Income E	Expenditure E	(losses) 6		Transfers f	at 31.08.19 6
Restricted funds:
Prizes Fund			8,998	1,000	1,700				8,298
Bursary Fund				41,934					41,934
				42,934	1,700				50,232
Unrestricted funds:
Designated funds
Bursary Fund			197,099		71,311			8,141	133,929
Building Maintenance		Fund	255,000						255,000
New Buikiing Fund			750,000						743,116
			1,202,099		78,195			8,141	1,132,045
General funds			4,362,451	1,215,616	1,142,112		9,500	(8,141)	4,437,314
Total Unrestricted	Funds		5,564,550	1,215,616	1,220,307		9,500		5,569,359
Total funds			5,573681	1,268,660	1,222,007		9,500		5,619,591

ANALYS	IS OF FUND BALANCES B	ETWEEN NET ASSET	S	S
		Generalf	Designatedf		Restrictedf	Total
Tangible	fixed assets	3,763,943				3,763,943
Investments				928,509		928,509
Net current assets		620,413		163,868	33,935	818,216
		4354 355	1	332377	33935	5,510,668
Analysis	offund balances between	net assets —previous	year
		Generalf	Designated f.		Restricted F	Totalf
Tangible	fixed assets	3,868,660				3,868,660
Investments				884,076		884,076
Net current assets		568,654		247,969	50,232	866,855
		4437314	1	132345	50232	5,619,591

DEFERRED INCOME	DEFERRED INCOME	DEFERRED INCOME
				2020 E	2019f
Balance	as at 1st	September	2019	314,928	300,923
Amount	released	to income	in the year	(314,928)	(300,923)
Amount	deferred	in the year		88,757	314,928
Balance	as at 31stAugust 2020			88,757	314928