2021-06-30-accounts - The Open School Trust

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Legal and Administrative	Information	Information
Council Members' Annual	Report				2-4
Report ofthe Auditors					5-6
Statement ofFinancial Activities
Balance Sheet
Statement ofCash Flows
Notes forming part ofthe	financial	statements			10- I7
The following pages do not form part ofthe statutory			financial	statements:
Detailed Statement ofFinancial Activities
Detailed Balance Sheet					19

REGISTRATION NUMBER:	02438525 (Company		limited	by guarantee)
CHARITY NUMBER:	328414
COUNCIL MEMBERS:	Dr R, Dorrance (Chairperson)
	Dr R. Morpeth (Chief		Executive	OAicer to	April 2021)
	R.A. Marshall (Vice Chairperson)
	C.Callaway
	R.E.Moore
	C.J.Woolliscroft
	Dr V. Pittard
CHIEF EXECUTIVE OFFICER:	E Chesterman
REGISTERED OFFICE	The Michael Young	Centre
	School House
	Homerton Gardens
	Purbeck Road
	Cambridge
	CB2 8EB
AUDITORS:	Prentis k, Co LLP
	Chartered Accountants		8c Statutory Auditors
	I ISc Milton Road
	Cambridge
	CB4 IXE
BANKERS:	CAF (Charities Aid	Foundation)		Bank	National	Westminster	Bank
	25 Kings Hill Avenue				Kings Parade Branch
	Kings Hill				10Benet	Street
	West Mailing, Kent				Cambridge
	ME I94TA				CB2 3PU
	lnsignis
	St Johns Innovation	Centre
	Cowley Road
	Cambridge
	CB4 OWS
SOLICITORS:	Stone King
	3rd Floor
	Bateman House
	82-88 Hills Road
	Cambridge
	CB2 ILQ

				2021	2021	2021	2020	2020	2020
			Notes	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				Funds	Funds	Funds	Funds	Funds	Funds
INCOME FROM:				f,			f
Charitable activities:
Fees				1,513,909		1,513,909	1,442,993		1,442,993
Publications and 1icences				4,110		4,110	7,165		7,165
Project income Other income				2,090	6,250	6,250 2,090	7,780	10,000	10,000 7,780
TOTAL INCOME				1,520,109	6,250	1,526,359	1,457,938	10,000	1,467,938
EXPENDITURE ON:
Charitable activities:
Fees				1,224,831		1,224,831	1,113,672		1,113,672
Publications and licences				45,191		45,191	50,368		50,368
Projects Other costs				27,339	3,560	3,560 27,339	22,456	17,893	17,893 22,456
TOTAL EXPENDITURE				1,297,361	3,560	1,300,921	1,186,496	17,893	1,204,389
Net income and net
movement in funds				222,748	2690	225,438	271,442	(7,893)	263,549
RECONCILIATION		OF FUNDS
Total funds brought	forward			535,092		535,092	263,650	7,893	271,543
Total funds carried	forward			757,840	2,690	760,530	535,092		535,092

	Notes		2021		2020
			E
FIXEDASSETS
Intangible assets				164,059		258,402
Tangible assets				64,054		95,870
TOTAL FIXEDASSETS				228,113		354,272
CURRENT ASSETS
Stocks	10		16,682		14,980
Debtors	ll		47,917		54,014
Cash at bank and in hand			813,019		500,878
TOTAL CURRENT ASSETS			877,618		569,872
LIABILITIES:
Creditors: Amounts falling due
within one year	12		(221,933)		(210,783)
NET CURRENT ASSETS				655,685		359,089
TOTALASSETSLESSCURRENT LIABILITIES				883,798		713,361
Creditors: Amounts falling due
after more than one year	13					(50,000)
PROVISIONS FORLIABILITIES	14			(123,268)		(128,269)
TOTAL NETASSETS				760,530		535,092
THE FUNDS OFTHE CHARITY:
Unrestricted Funds	15			757,840		535,092
Restricted Funds	15			2,690
TOTAL FUNDS				760,530		535,092
The financial statements were approved	by the Council ofTrustees on	14,
and signed on its behalf by

				2021	2020
				Total	Total
			Notes	Funds	Funds
Cash flows from operating Nel cash provided by/(used	activities: in) operating	activilies	18	408,586	582,313
Cash flows from investing	activities:
Purchase oftangible fixed assets				(18,665)	(49,373)
Capitalisation ofintangible	assets			(27,780)	(57,671)
Net cash provided by/(used	in) investing	acli vities		(46,445)	(107,044)
Cash flows from financing	activities:
Repayment ofborrowing				(50,000)	(88,565)
Net cash provided by/(usedin) financing		activities		(50,000)	(88,565)
Change in casii and cash equivalents in the year Cash and cash equivalents brought forward				312,141 500,878	386,704 114,174
Cash and cash equivalents	carried forward			813,019	500,878

EXPENDITURE ON:
CHARITABLE ACTIVITIES			Activities
FORTHE YEAR ENDED 30TH		JUNE 2021	Undertaken	Other Direct	Support	2021
			Directly	Costs	Costs	Totalf
Fees			682,875	7,200	534,756	1/24,831
Publications &licences			39,789		5,402	45,191
Projects				3,560		3,560
Governance costs					27,339	27,339
			722,664	10,760	567,497	1,300,921
ANALYSIS OF SUPPORT COSTS
FORTHE YEAR ENDED 30TH		JUNE 2021		Publications		2021
			Fees	&Licences	Governance	Total
				f		f
Postage and carriage			356	3		359
Staffcosts			116,745	1,179		117,924
Office expenses			2,046	21		2,067
Coinputer and hardware	expenses		57,189	578		57,767
Telephone			7,606	78		7,684
Depreciation and amortisation			170,878	1,726		172,604
Professional fees			8,539	86		8,625
Accountancy			1,562	16		1,578
Other costs			186	1		187
Recruitment costs			17,514	177		17,691
Bank and credit card charges			19,828	200		20,028
Premises expenses			67,556	682		68,238
Advertising and marketing			64,752	654		65,406
			534,757	5,401		540,158
ANALYSIS OF GOVERNANCE		COSTS
Legal and professional Auditors remuneration					14,739 6,600	14,739 6,600
Apportionment ofpremises costs					6,000	6,000
			534,757	5,401	27,339	567,497

EXPENDITURE ON:
CHAMTABLE ACTIVITIES						Activities
FOR THE YEAR ENDED		30TH		JUNE 2020		Undertaken	Other Direct	Support	2020
						Directly	Costs	Costs	Total
Fees						569,841	9,129	534,702	1,113,672
Publications &licences						39,456		10,912	50,368
Projects							17,893		17,893
Governance costs								22,456	22,456
						609,297	27,022	568,070	1,204,389
ANALYSIS OF SUPPORT COSTS
FOR THE YEAR ENDED		30TH		JUNE 2020			Pubhcations		2020
						Fees	&Licences	Governance	Total
Postage and carriage						872	18		890
Staffcosts						94,499	1,929		96,428
Office expenses						3,225	66		3,291
Computer and hardware	expenses					67,635	1,380		69,015
Telephone						4,919	100		5,019
Depreciation and amortisation						212,203	4,331		216,534
Professional fees						12,863	263		13,126
Accountancy						1,605	33		1,638
Other costs						166	3		169
Recruitment costs						1,616	33		1,649
Bank and credit card charges						13,391	273		13,664
Loan Interest						3,018	62		3,080
Premises expenses						66,805	1,363		68,168
Advertising and marketing						51,885	1,058		52,943
						534,702	10,912		545,614
ANALYSIS OF GOVERNANCE				COSTS
Legal and professional								7,462	7,462
Auditors remuneration								6,600	6,600
Council Members expenses								2,394	2,394
Apportionment ofpremises		costs						6,000	6,000
						534,702	10,912	22,456	568,070
NET INCOME FOR THE		YEAR						2021	2020
Auditors remuneration			-Audit					6,600	6,600
			- Other services (consultancy)					1,577	1,638
Depreciation oftangible	fixed		assets					50,481	48,297
Amortisation ofintangible		fixed assets						122,123	168,237
MANAGEMENT THREAT IN RELATION TO NON-AUDIT						SERVICES
In common with many other businesses ofour size and nature we use our auditors							to assist with	the preparation
ofthe financial statements.
ANALYSIS OF STAFF	COSTS AND REMUNERATION				OF			2021	2020
KEY MANAGEMENT	PERSONNEL
Salaries and wages								529,582	423,459
Social security costs								34,849	32,768
Pension contributions								3,272	27,279
								567,703	483,506

	INTANGIBLE FIXEDASSETS	INTANGIBLE FIXEDASSETS		Course
	FOR THE	YEAR ENDED 30TH JUNE 2021	Goodwill	Development	Total
	COST OR	VALUATION
	Balance at	1stJuly 2020	301,166	671,586	972,752
	Additions			27,780	27,780
	Balance at	30th June 2021	301,166	699,366	1,000,532
	AMORTISATION
	Balance at	1stJuly 2020	173,169	541,181	714,350
	Charge for	the year	25,599	96,524	122,123
	Balance at	30th June 2021	198,768	637,705	836,473
	NET BOOK VALUE as at 30th June 2021		102,398	61,661	164,059
8a.	INTANGIBLE FIXEDASSETS			Course
	FOR THE	YEAR ENDED 30TH JUNE 2020	Goodwill	Development	Total
	COST OR	VALUATION	f		f
	Balance at	1stJuly 2019	301,166	613,915	915,081
	Additions			57,671	57,671
	Balance at	30th June 2020	301,166	671,586	972,752
	AMORTISATION
	Balance at	1stJuly 2019	147,570	398,543	546,113
	Charge for	the year	25,599	142,638	168/37
	Balance at	30th June 2020	173,169	541,181	714,350
	NET BOOK VALUE as at 30th June 2020		127,997	130,405	258,402
	TANGIBLE FIXEDASSETS		Leasehold	Equipment
	YEAR ENDED 30TH JUNE 2021		Improvement	&Software	Total
	COST OR	VALUATION
	Balance at	1stJuly 2020	30,073	301,695	331,768
	Additions			18,665	18,665
	Disposals			(1,106)	(1,106)
	Balance at	30th June 2021	30,073	319,254	349,327
	DEPRECIATION
	Balance at	1stJuly 2020	30,073	205,825	235,898
	Charge for	the year		50,481	50,481
	Eliminated	on disposal		(1,106)	(1,106)
	Balance at	30th June 2021	30,073	255,200	285,273
	NET BOOK VALUE as at 30th June 2021			64,054	64,054

TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS	Leasehold	Equipment
YEAR ENDED 30TH JUNE 2020 COST OR VALUATION		Improvementf	&Softwaref	Total
Balance at 1stJuly 2019		30,073	253,489	283,562
Additions			49,373	49,373
Disposals			(1,167)	(1,167)
Balance at 30th June 2020		30,073	301,695	331,768
DEPRECIATION
Balance at 1stJuly 2019		24,276	164,492	188,768
Charge for the year		5,797	42,500	48,297
Eliminated on disposal			(1,167)	(1,167)
Balance at 30th June 2019		30,073	205,825	235,898
NET BOOK VALUE as at	30th June 2020		95,870	95,870
STOCKS			2021	2020
			f.	f
Finished goods and goods for resale			16,682	14,980
DEBTORS			2021	2020
			f	f,
Trade debtors			29,579	20,388
Prepayments and accrued income			18,338	33,626
			47,917	54,014
CREDITORS: AMOUNTS	FALLING DUE WITHIN ONE YEAR		2021	2020
			f	f
Trade creditors			119,504	114,106
Other creditors			16,865	12,405
Accruals and deferred income			85,564	84,272
			221,933	210,783
CREDITORS: AMOUNTS	FALLING DUE AFTER MORE THAN ONE YEAR		2021	2020
Other loans				50,000
The above loan repayments	fall due as follows:		2021 f	2020 f
Between one and two years				50,000
PROVISIONS FOR LIABILITIES			2021	2020
				f
Balance brought forward			128,269	108,559
Movement in provision			(5,001)	19,710
Balance carried forward			123,268	128,269

15.	ANALYSIS OF CHARITABLE FUNDS	Brought				Carried
	YEAR ENDED 30TH JUNE 2021	Forward	Income	Expenditure	Transfers	Forward
				f.
	UNRESTRICTED FUNDS
	General funds	535,092	1,520,109	1,297,361		757,840
	RESTRICTED FUNDS
	Open University		6,250	3,560		2,690
	TOTAL FUNDS	535,092	1,526,359	1,300,921		760,530
15a.	ANALYSIS OF CHARITABLE FUNDS	Brought				Canied
	YEAR ENDED 30TH JUNE 2020	Forward	Income	Expenditure	Transfers	Forward
						f.
	UNRESTRICTED FUNDS
	General funds	263,650	1,457,938	1,186,496		535,092
	RESTRICTED FUNDS
	Digital Learning for Prisoners	5,941		5,941
	AAH	1,952	10,000	11,952
		7,893	10,000	17,893
	TOTAL FUNDS	271,543	1,467,938	1,204,389		535,092

16.	ANALYSIS OFNET ASSETSBETWEEN FUNDS	ANALYSIS OFNET ASSETSBETWEEN FUNDS	2021	2021	2021
	YEAR ENDED 30TH JUNE 2021		Unrestricted	Restricted	Total
			Funds	Funds	Funds
			E
	Intangible	fixed assets	164,059		164,059
	Tangible	fixed assets	64,054		64,054
	Current assets		874,711	2,690	877,401
	Creditors	due within one year	(221,716)		(221,716)
	Provision	for liabilities	(123,268)		(123,268)
			757,840	2,690	760,530
16a.	ANALYSIS OFNET ASSETSBETWEEN FUNDS		2020	2020	2020
	YEAR ENDED 30TH JUNE 2020		Unrestricted	Restricted	Total
			Funds	Funds	Funds
				f
	Intangible	fixed assets	258,402		258,402
	Tangible	fixed assets	95,870		95,870
	Current assets		569,872		569,872
	Creditors	due within one year	(210,783)		(210,783)
	Creditors	due after one year	(50,000)		(50,000)
	Provision	for liabilities	(128,269)		(128,269)
			535,092		535,092

	2021	2020
Net movement in funds	225,438	263,549
Add: Depreciation	50,481	48,297
Add: Amortisation	122,123	168,237
Increase in stocks	(1,702)	(843)
Decrease in debtors	6,097	13,384
Increase in creditors	6,149	89,689
	408,586	582,313