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|---|---|---|---|
|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|
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||||||||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|
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|||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|
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|||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.|
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|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|
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##
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||||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|
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||||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|
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||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|
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|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|
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