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|TRUSTEES' ANNUAL
REPORT|||
|(INCORPORATING
THE DIRECTORS' REPORT)|||
|AUDITORS REPORT|||
|CONSOLIDATED
STATEMENT OF FINANCIAL ACTIVITIES|||
|CONSOLIDATED
AND PARENT CHARITABLE COMPANY|BALANCE SHEETS|12|
|CONSOLIDATED
STATEMENT OF CASHFLOWS||13|
|NOTES TO THE FINANCIAL
STATEMENTS||14|
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|||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|
|||||and Total|and Total|
||||Note|Funds|Funds|
|Income and Endowments||from||2020|2019|
|||||6|6|
|Charitable
activities:
Provisions ofcourses and accommodation||||1,963,013|2,108,210|
|Other trading
activities||||||
|Hire offacilities to other course providers||||67,962|254,080|
|Miscellaneous
sales and|other income|||76,932|15,778|
|investment
income||||4,280|4,809|
|Total Income & Endowments||||2,112,187|2,382,877|
|Expenditure
on||||||
|Charitable
activities||||||
|Provision
ofcourses and|accommodation|||1,843,044|2,130,054|
|Charitable
donations||||5,000|37,942|
|Other expenditure||||||
|Hire of facilities to other course providers||||56,932|171,506|
|Total expenditure|||3|1,904,976|2,339,502|
|Net incoming
resources||||207,211|43,375|
|Reconciliaiion
offunds||||||
|Funds balances
brought|forward|||1,599,982|1,556,607|
|Total funds carried forward||at 31 December||1,807,193|1,599,982|
##
|||||Group|Group|Charitable|Company|
|---|---|---|---|---|---|---|---|
|||||2020|2019|2020|2019|
||||Note||8|f||
|Fixed assets||||||||
|Tangible assets|||10|683,660|749,667|617,345|655,399|
|Shares
in group undertakings|||11|||2|2|
|||||683,660|749,667|617,347|655,401|
|Current assets||||||||
|Stock||||1,340|1,340|||
|Debtors|||12|314,000|341,482|468|25,556|
|Cash at bank and|in|hand||1,336,951|981,888|462,422|311,722|
|||||1 652 291|1,324,710|462 890|337,278|
|Creditors||||||||
|Amounts
falling due within one year|||13|(476,486)|(391,873)|(4,838)|(4,257)|
|Net current assets||||1,175,805|932,837|458,052|333,021|
|Creditors due more|than one year|||(34,870)|(68,767)|||
|Provision for liabilities||and charges|14|(17,402)|(13,755)|||
|Net assets||||1,807,193|1,599,982|1,075,399|988,422|
|Funds ofthe charity||||||||
|Unrestricted
income||funds:||||||
|General funds||||1,807,193|1,599,982|1,075,399|988,422|
|Total Charity funds||||1,807,193|1,599,982|1,075,399|988,422|
|||||||||||Total|Total|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||funds|funds|
|||||||||||2020|2019|
||||||||||Note|||
|Cash flows from operating|||activities|||||||||
|Cash generated
from||operations||||||||353,360|180,386|
|Interest received||||||||||4,280|4,553|
|Tax paid|||||||||||(9,311)|
|Net cash generated||by operating||activities||||||357,640|175,628|
|Cash flows used
in||investing
activities||||||||||
|Purchase of Tangible||Fixed Assets||||||||(2,577)|(128,329)|
|Net cash used in investing|||activities|||||||(2,577)|(128,329)|
|Change
in cash and
period||cash equivalents|||in the|reporting||||355,063|47,299|
|Cash and cash equivalents|||at the beginning|||ofthe reporting||||981,888|934,589|
|period||||||||||||
|Cash and cash equivalents|||at the end||of the reporting||period|||1,336,951|981,888|
|Reconciliation
of net income/(expenditure)||||||to net cash|flow|||2020|2019|
|from operating
activities|||||||||||6|
|Net Income for the|reporting||period (as per|||the statement||of||207,211|73,029|
|financial
activities)|before taxation|||||||||||
|Adjustments
for:||||||||||||
|Interest received||||||||||(4,280)|(4,809)|
|Depreciation||||||||||68,584|65,627|
|Tax expense||||||||||60,487||
|Decrease
/ (Increase)||in Debtors||||||||27,640|(63,934)|
|Increase
in Creditors||||||||||(6,282)|110,473|
|Net cash provided|by operating|||activities||||||353,360|180,386|
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|Amortisation|||||
|---|---|---|---|---|
|Amortisation|is charged so as to write|off the cost ofassets over their estimated||useful lives as follows'.|
|Asset class||Amortisation|method|and rate|
|Software development||3 years straight|line||
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|Depreciation
of fixed assets|is calculated|to write off their cost or valuation
on a straight|to write off their cost or valuation
on a straight|line basis over their|
|---|---|---|---|---|
|estimated
useful lives as follows:|||||
|Asset class||Depreciation
method|and rate||
|Freehold
buildings||50years|||
|Leasehold
land and buildings||10years|||
|Garden
equipment||5years (10years prior|to 2008)||
|Fixtures and fittings||5years (10years prior|to 2008)||
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||Charitable
Charitable|Charitable
Charitable|Charitable
Charitable|Other|Total|Total|
|---|---|---|---|---|---|---|
||Activities
6
Donationsf|||Activities|2020
6|2019|
|Provision
ofcourses and
accommodation|1,553,547||||1,553,547|1,841,200|
|Charitable
Donations|||5,000||5,000|37,942|
|Hire offacilities to other course||||56,932|56,932|171,506|
|Administrative
/ Managerial|/|236,036||9,847|245,883|247,771|
|Financial expenses|||||||
|External
Audit||10,450|||10,450|10,450|
|Legal &other professional|services|66|||66|803|
|Taxation||33,098|||33,098|29,830|
|Total 2020|1,833,197||5,000|66,779|1,904,976|2,339,502|
|Total 2019|2,130,054||37,942|171,506|||
|Miscellaneous
sales|||||||
|||||2020
6||2019f|
|Other operating
income||||5,861||15,778|
|Government
grants||||71,071|||
|||||76,932||15,778|
|Government
grants relate|to grants receivable|under the|Coronavirus|Job Retention|Scheme.||
|Operating
profit|||||||
|||||2020||2019|
||||||6|6|
|Operating
profit is stated after charging:|||||||
|Auditors'
remuneration||||10,450||10,450|
|Depreciation
oftangible fixed assets: owned||assets||68,584||65,627|
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|7|Staff costs||||
|---|---|---|---|---|
||||2020|2019f|
||Wages and salaries||517,617|620,409|
||Social security costs (Employers|Nl)|44,589|48,618|
||Other pension costs||10,136|10,622|
||Redundancy
costs||43,548||
||||615,890|679,649|
##
|The subsidiar|y|is not a charity|and is subject to Corporation
tax|ation.||
|---|---|---|---|---|---|
|||||2020|2019f|
|Corporation|Tax effective at 19/o (2019:19/o)|||56,840|27,454|
|UK corporation||tax adjustment|to prior periods|(27,389)||
|Deferred tax||||3,647|2,376|
|||||33,098|29,830|
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|10|Tangible fixed assets||||||
|---|---|---|---|---|---|---|
||Group|||Short|||
|||||Leasehold|Freehold||
|||Garden|Fixtures and|Land and|Land and||
|||Equipment|Fittings|Buildings|Buildings|Total|
||||8|8|6||
||Cost||||||
||1 January 2020|12,581|614,491|472,031|818,011|1,917,114|
||Additions||2,577|||2,577|
||Disposals||||||
||31 December 2020|12,581|617,068|472,031|818,011|1,919,691|
||Depreciation||||||
||1January 2020|12,581|527,131|390,629|237,106|1,167,447|
||Elimination
on disposal||||||
||Charge for the year||29,114|16,830|22,640|68,584|
||31 December 2020|12,581|556,245|407,459|259,746|1,236,031|
||Net book amounts||||||
||31 December 2020||60,823|64,572|558,265|683,660|
||31 December 2019||87,360|81,402|580,905|749,667|
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|Charitable
Company||||||
|---|---|---|---|---|---|
||||Short|||
||||Leasehold|Freehold||
||Garden|Fixtures and|Land and|Land and||
||Equipmentf|Fittings
8|Buildingsf|Buildings|Total
8|
|Cost||||||
|1 January 2020|12,581|45,525|154,132|818,011|1,030,249|
|Additions||||||
|Disposals||||||
|31 December 2020|12,581|45,525|154,132|818,011|1,030,249|
|Depreciation||||||
|1 January 2020|12,581|45,525|79,638|237,106|374,850|
|Elimination
on disposal||||||
|Charge for the year|||15,414|22,640|38,054|
|31 December 2020|12,581|45,525|95,052|259,746|412,904|
|Net book amounts||||||
|31 December 2020|||59,080|558,265|617,345|
|31 December 2019|||74,494|580,905|655,399|
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|A summary
ofthe trading
results is shown below:|A summary
ofthe trading
results is shown below:|A summary
ofthe trading
results is shown below:|||2020||2019|
|---|---|---|---|---|---|---|---|
||||||6|||
|Turnover|||||2,030,975||2,362,290|
|Cost ofsales and admin costs|||||(1,812,320)||(2,217,489)|
|Other operating|income||||80,143||16,282|
|Taxation|||||(33,098)||(29,830)|
|Donation
paid to|parent charity, recognised as a distribution||||(145,270)||(20,000)|
|Net profit retained||in subsidiary|||120,430||111,253|
|The assets and|liabilities were:|||||||
|Fixed assets|||||66,315||94,268|
|Current assets|||||1,189,596||987,432|
|Current
liabilities|||||(471,648)||(387,617)|
|Non-current
liabilities
Provisions||||(34,870)
~77,402||(68,767)
~72, 4||
|Aggregate
share capital and reserves|||||731,991||611,561|
|Debtors||||||||
|||||Group|Charitable||Company|
|Amounts
falling|due within one year||2020
6||2019|2020
6|2019
6|
|Trade debtors|||44,856|170,159||||
|Other debtors|||195,100||22,593||21,779|
|Prepayments
and accrued income|||74,044|148,730||468|3,777|
||||314,000|341,482||468|25,556|
|Creditors||||||||
|||||Group|Charitable||Company|
|Amounts
falling|due within one year||2020
f||2019
6|2020
6|2019|
|Trade creditors|||121,702|150,468||2,238|1,467|
|Taxation|||56,840||27,389|||
|Accruals and deferred income|||172,313|144,756||2,600|2,790|
|VAT|||89,727||49,092|||
|Payroll
liabilities|||34,644||15,688|||
|Other creditors|||260||1,480|||
|Apprenticeship
incentives|||1,000||3,000|||
||||476,4186|391,873||4,838|4,257|
|Amounts
falling after one year||||||||
|Deferred income|||34,870||68,767|||
##
|||||Group|Chantable|Company|
|---|---|---|---|---|---|---|
|Deferred|income|reconciliation|2020
5|2019|2020|2019|
|Balance|at 1 January||154,080|104,163|||
|Amount|released|in year|(154,080)|(104,163)|||
|Amount|deferred|in year|128,594|154,080|||
|Balance|at 31 December||128,594|154,080|||
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|||||||Deferred Tax|
|---|---|---|---|---|---|---|
|1 January|2020|||||13,755|
|Increase|in provision|in year||||3,647|
|31 December 2020||||||17,402|
|Leasing|Agreements||||||
|Minimum|lease payments||under non-cancellable|operating|leases fall due as follows:||
||||||2020|2019|
||||||8||
|Within one year|||||88,810|88,810|
|Between|one and five years||||81,409|170,219|
||||||170,219|259,029|
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||||2020|2019|
|---|---|---|---|---|
||||6|6|
|Incoming resources:|||||
|Donation
from subsidiary|||144,070|20,000|
|Other income||||3,226|
|Interest received|||1,069|1,079|
||||145,139|24,305|
|Expenditure
on charitable||activities|(58,162)|(92,183)|
|Net surplus
I (deficit)|||86,977|(67,878)|
|Total funds brought|forward||988,422|1,056,300|
|Total funds carried|forward||1,075,399|988,422|