2021-12-31-accounts - General Federation Of Trade Unions Educational Trust

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			Page
Reference and administrative	details	ofthe Trust, its Trustees and advisers
Trustees' report			2-5
Independent auditors' report	on the	financial statements
Consolidated statement offinancial		activities
Consolidated balance sheet
Trust balance sheet			12
Notes to the financial statements			13-29

							As restated
				Restricted	Unrestricted	Total	Total
				funds	funds	funds	funds
			Note	2021 6	2021 6	2021 6	2020f
Income from:
Management charges received from
GFTU					200,000	200,000	400,000
Charitable activities							3,049
Trading activities:
Hotel				1,203,456		1,203,456	614,361
HMRC Covid-19 grants received				197,442		197,442	344,550
Investment income					4	4	17
Other income					121,287	121,287	117387
Total income				1,400,898	321,291	1,722,189	1,479,354
Expenditure on:
Trading activities
Hotel				1,168,064		1,168,064	t,168,091
Day Nursery				(5,300)		(5,300)
Charitable activities					441,740	441,740	395,814
Total expenditure				1,162,764	441,740	1,604,504	1,564,905
Net income/(expenditure)		before net
gains on investments				238,134	(120,449)	117,685	(85,541)
Gain on revaluation	of investment
property					75,000	75,000	339,447
Net income/(expenditure)		before
taxation				238,134	(45,449)	192,685	253,906
Taxation				38,000		38,000
Net movement in funds			14	276,134	(45,449)	230,685	253,906
Reconciliation offunds:			14
Total funds brought	forward		14	1,027,259	(488,329)	538,930	285,024
Net movement in funds			14	276,134	(45,449)	230,685	253,906
Total funds carried forward			14	1,303,393	(533,778)	769,615	538,930

			Consolidated	balanco shoot
			as at 31December 2021
							As restated
					2021		2020
			Note		6		6
Fixed assets
Tang:ble assets					4,798,454		4,882.354
Investment property					2,360,000		2,285.000
					7,158,454		7,I67,354
Current assets
Stocks				7,202		4,966
Debtors			11	182,557		237,580
Cash at bank	and in hand			272,619		92,276
				462,378		334,822
Creditors: amounts		falling due within one
year			12	(6,851,217)		(6,963,246)
Net current	liabilities				(6,368,839)		(6,628,424)
Total assets	less	current liabilities			769,615		536,930
Total net assets					769,615		538,930
Charity funds
Restricted funds			14		1,303,393		1,027,259
Unrestricted	funds		14		(533,778)		(488,329)
Total funds					769,615		538,930

			Trust balance sheet	Trust balance sheet
			as at 31	December 2021
							As restated
					2021		2020
			Note		6		6
Fixed assets
Tangible assets Investments			8 10		4,608,643 2		4,652,192 2
Investment property			9		2,360,000		2,285,000
					6,968,645		6,937,194
Current assets
Debtors			11	889,613		970,903
Cash at bank	and in hand			104,053		62,095
				993,866		1,032,998
Creditors: amounts year		falling due within one	12	(6,331,440)		(6,339,781)
Net current	liabilities				(5,337,574)		(5,306,783)
Total assets	less	current liabilities			1,631.071		1,630,411
Total net assets					1,631,071		1,630,411
Charity funds Restrticted funds			14		2,052,351		2,052,351
Unrestricted	funds		14		(421,280)		(421,940)
Total funds					1,631,071		1,630,4 I 1

		Support	Total	Total
	Direct costs	costs	funds	funds
	2021 6	2021 F	2021 6	2020f
Education		441,740	441,740	396,814
Total 2020	26,632	370,182	396,814

	Total funds 2021f As restated Total funds 2020f Staff costs Depreciation Occupancy costs Other costs Governance costs 230,854 36,028 14,989 153,369 6,500 196,881 41,054 27,136 97,236 7,875 441,740 370,182 Auditors' remuneration 2021 8 2020 6 Fees payable to the Trust's auditor for the audit ofthe Trust's annual accounts 6,500 13,500
Fees payable to the Trust's auditor for the audit ofthe Trust's annual accounts 5. Staff costs	Fees payable to the Trust's auditor for the audit ofthe Trust's annual accounts

	Fees payable to the Trust's auditor for the audit ofthe Trust's annual
	accounts
5.	Staff costs

	Group	Group	Trust	Trust
	2021	2020	2021	2020
	6	E	6
Wages and salaries	775,292	908,138	189,833	165,343
Social security costs	51,831	34,751	18,544	14,832
Pension costs	34,957	26,072	22,477	16,706
	855,080	9S8,9S1	230,854	196,881

		Group	Group	Trust	Trust
		2021	2020	2021	2020
		No.	No.	No.	No.
Research and education	officers	1	1
Administration		8	10		10
Hotel staff		39	54
		48	65

Group	Group
2021	2020
No.	No.

7.	Intangible assets
	Group and Trust
	Cost
	At 1 January 2021
	At 31 December 2021
	Amortisation
	At 1 January 2021
	At 31 December 2021
	Net book value
	At 31 December 2021
	AI 31December 2020

			Fixtures,
	Land and	ProPerty	fittings and
	buildings f	improvements f	equipmentf	Totalf
Cost
At 1 January 2021 (as restated)	4,425,787	379,434	719,124	5,524,345
Additions			12,438	12,438
Disposals	(961)	(3,325)	(40,345)	(44,631)
At 31 December 2021	4,424,826	376,109	691,217	5,492,152
Depreciation
At 1 January 2021 (as restated)	7,546	278,488	355,957	641,991
Charge for the year	7,546	17,579	59,540	84,665
On disposals		(2,184)	(30,774)	(32,958)
At 31 December 2021	15,092	293,883	384,723	693,698
Net book value
At 31 December 2021	4,409,734	82,226	306,494	4,798,454
At 1January 2021 (as restated)	4,418,241	100,946	363,167	4,882,354

			Freehold	Property	Plant and
			property	improvements	machinery	Total
				F	5
	Cost
	At 1 January	2021 (as restated)	4,425,787	6,811	373,056	4,805,654
	Additions				1,205	1,205
	Disposals		(961)			(961)
	At 31 December 2021		4,424,826	6,811	374,261	4,805,898
	Depreciation
	At 1 January	2021 (as restated)	7,546	4,688	141,228	153,462
	Charge for the year		7,546	261	35,986	43,793
	At 31 December 2021		15,092	4,949	177,214	197,255
	Net book value
	At 31 December 2021		4,409,734	1,862	197,047	4,608,643
	At 1 January	2021 (as restated)	4,418,241	2,123	231,828	4,652,192
9.	Investment	property
	Group and Trust

	Freehold
	investment
	property
Valuation
At 1 January 2021 (as restated)	2,285,000
Surplus on revaluation	75,000
At 31 December 2021	2,360,000

											Investments	Investments
												in
											subsidiary
											companies
Trust
Cost and net book value
At 1 January 2021
At 31 December	2021
Principal subsidiaries
The following were		subsidiary		undertakings		ofthe	Trust:
Names					Principal		activity		Class of	Holding	Included	in
									shares		consolidation
GFTUET Trading		Company	Limited		Quorn Grange			Hotel	Ordinary	100'/o	Yes
Albion Education	and Training			Ltd	Dormant				Ordinary	100'/x	Yes
The financial results ofthe subsidiaries					for	the year were:
Names										Profit/(Loss)	Net	assets
										for the year
										8
GFTUET Trading		Company	Limited							224,725	(862,738)
Albion Education		and Training		Ltd								1,286

						Group		Trust
					Group	As restated	Trust	As restated
					2021 6	2020 5	2021 6	2020f
Due within one year
Trade debtors					44,598	41,071	2,203	40,499
Amounts owed		by group undertakings					839,807	797,149
Other debtors					90,646	196,509	38,490	133,255
Prepayments	and accrued income				9,313		9,313
Deferred taxation					38,000
					182,557	237,560	889,813	970,903
Creditors: Amounts			falling due within	one year
						Group		Trust
					Group	As restated	Trust	As restated
					2021 f	2020 5	2021 6	2020 5
Amounts due	to GFTU				6,396,295	6,405,251	6,210,319	6,183,957
Trade creditors					99,992	112,736	3,266	37,381
Other taxation		and social security			50,099	99,896
Other creditors						9,563		3,937
Accruals and	deferred		income		304,831	335,800	117,855	114,506
					6,851,217	6,963,246	6,331,440	6,339,781

	As restated						Balance at
	Balance at 1						31
	January					Gains/	December
	2021 5	Income 6	Expenditure	f	Taxation 5	(Losses) 6	2021f
Unrestricted
funds
General reserve
fund	(827,776)	321,291	(441,740)				(948,225)
Revaluation
reserve	339,447					75,000	414,447
	(488,329)	321,291	(441,740)			75,000	(533,778)
Restricted
funds
Restricted
reserve fund-
investment	1,027,259	1,400,898	(1,162,764)		38,000		1,303,393
Total offunds	538,930	1,722,189	(1,604,504)		38,000	75,000	769,615

Statement	offu	nds - prior y	ear
							As resisted
			As restated				Balance at
			Balance at			As restated	31
			1January		As restated	Gainer	December
			2020	Income 6	Expenditure f	(Losses) f	2020f
Unrestricted	funds
General reserve		fund	(866,048)	520,453	(482,181)		(827,7T6)
Revaluation	reserve					339,447	339,447
			(866,048)	520,453	(482,181)	339,44T	(488,329)
Restricted	funds
Restricted reserve fund-
investment			1,151,872	958,911	(1,083,524)		1,027,259
Total offunds			285,824	1,479,364	(1,565,705)	339,447	538,930

Analysis	ofnet asse	ts between funds	- current year
				Restricted	Unrestricted	Total
				funds	funds	funds
				2021	2021	2021
					5	5
Tangible fixed assets				2,355,944	2,442,510	4,798,454
Investment	property				2,360,000	2,360,000
Current assets				253,545	170,833	424,378
Creditors	due within	one year		(1,344,096)	(5,507,121)	(6,851,217)
Deferred tax asset				38,000		38,000
Total				1,303,393	(533,778)	769,615
Analysis	ofnet assets between funds		- prior year (as restated)
			Endowment	Restricted	Unrestricted	Total
			funds	funds	funds	funds
			2020	2020	2020	2020
			5		5	5
Tangible fixed assets			(6,462)	2,429,628	2,459,188	4,882,354
Investment	property				2,285,000	2,285,000
Current assets			6,462	81,535	246,825	334,822
Creditors	due within	one year		(1,483,904)	(5,479,342)	(6,963,245)
Total				1,027,259	(488,329)	538,930

payments	und	er non-cancellable operating lease	s as follows:
			Group	Group	Trust	Trust
			2021f	2020f	2021 5	2020 5
Not later than		1 year	2,599	2,599	2,599	2,599
Later than	1 year and not later than 5 years		3,465	6,064	3,465	6,064
			6,064	8,563	6,064	8,663