2023-06-30-accounts - The Open School Trust

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Legal and Administrative	Information	Information
Council Members' Annual	Report				2-4
Report ofthe Auditors					6-6
Statement ofFinancial Activities
Balance Sheet
Statement ofCash Flows
Notes forming part ofthe	financial	statements			10- 17
The following pages do not form part ofthe statutory			financial	statements:
Detailed Statement ofFinancial Activities					18
Detailed Balance Sheet					l9

REGISTRATION NUMBER:	02438525 (Company	02438525 (Company		limited	guarantee)	guarantee)
CHARITY NUMBER:	328414
COUNCIL MEMBERS:	Dr R.Dorrance	(Chairperson)
	Dr R, Morpeth
	R.A. Marshall	(resigned November				2022)
	C.J.Woottiscro(t
	Dr V. Pittard
	S.Mistry
	N. Barrett (appointed			February	2023 )
CHIEF EXECUTIVE OFFICER:	E Chesterman
REGISTERED OFFICE	Woolpack House
	70High Street
	Sawston
	Cambridge
	CB22 3HJ
AUDITORS;	Prentis &Co LLP
	Chartered Accountants			& Statutory		Auditors
	115cMilton 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
	ME19 4TA						CB23PU
	Insignia
	St Johns Innovation		Centre
	Cowley Road
	Cambridge
	CB4OWS
SOLICITORS. '	Stone King
	3rd Floor
	Bateman House
	82-88 Hills Road
	Cambridge
	CB2 ILQ

											Restated
						2023	2023	2023	2022	2022	2022
					Notes	Univstricted	Restricted	Total	Unrestricted	Restrictedl	Total
						Funds	Funds	Funds	Funds	Funds	Funds
INCOME	FROM:						f.
Charitable	activities:
Fees						1,055,159		1,055,159	1,304,902		1,304,902
Publications	and licences					3,704		3,704	3,818		3,818
Project income							3,000	3,000
Other income						13,606		13,606	21,568		21,568
Invcsttneat	income:
Interest received						8,772		8,772	1,311		1,311
TOTAL INCOME						1,081,241	3,000	I 084241	I 331 599		1,331,599
EXPENDITURE ON:
Charitable	activities:
Fees						1,150,947		1,150,947	1,169,707		1,169,707
Publications	and licences					17,072		17,072	16,750		16,750
Projects							3,000	3,000		2,690	2,690
Other costs						27,045		27,045	29,844		29,844
TOTAL EXPENDITURE						1,195,064	3,000	1,198,064	1,216,301	2,690	1,218,991
Net (expenditure)/income				and net
movement	in funds				5	(113,823)		(113,823)	115,298	(2,690)	112,608
RECONCILIATION			OF	FUNDS
Total funds	brought	forward				873,138		873,138	757,840	2,690	760,530
'Total funds	carried	forward				759,315		759,315	873,138		873,138

		Notes	Notes	2023 2022
FIXEDASSETS
Intangible assets				79,935	119,140
Tangible assets				12,749	34,180
TOTAL FIXEDASSETS				92,684	153,320
CIJRRENT ASSETS
Stocks			10	6,579 10,436
Debtors			ll	56,491 66,702
Cash at bank and in hand				766,303 852,735
TOTAL CIJRRENT ASSETS				829,373 929,873
LIABILITIES:
Creditors: Amounts falling due
within one year			12	(68,589) (100,025)
NET CURRENT ASSETS				760,784	829,848
TOTAL ASSETSLESSCURRENT		LIABILITIES		853,468	983,168
PROVISIONS FOR LIABILITIES			13	(94,153)	(110,030)
TOTAL NET ASSETS				759,315	873,138
THE FUNDS OFTHE	CHARITY:
Unrestricted Funds			14	759,315	873,138
Restricted Funds			14
TOTAL FUNDS				759,315	873,138
The financial statements	were approved	by the Council	of Trustees on 5	s-a-'casvv)2+v WT-K
and signed on its behalf	by

					2023	2022
					Total	Total
				Notes	Funds	Funds
						8
Cash flows from operating	activities:
Net cash provided by/(used	in) operating		activities	17	(67,881)	73,255
Cash flows from investiog	activities:
Purchase oftangible fixed assets					(3,887)	(7,752)
Capitalisation ofintangible	assets				(14,664)	(25,787)
Net cash provided bye(used	in) investing		activities		(18,551)	(33,539)
Change in cash and cash equivalents		ln	the year		(86,432)	39,716
Cash and cash equivalents	brought forward				852,735	813,019
Cash and cash equivalents	carried forward				766,303	852,735

EXPENDITURE ON:	EXPENDITURE ON:
CHARITABLE ACTIVITIES				Activities
FOR THE YEAR ENDED 30TH			JUNE 2023	Undertaken	Other Direct	Support	2023
				Directly	Costs	Costs	Total
					f,
Fees				697,471	3,224	450,252	1,150,947
Publications	&licences			15,771		1,301	17,072
Projects					3,000		3,000
Governance	costs					27,045	27,045
				713,242	6,224	478,598	1,198,064
ANALYSIS	OF SUPPORT COSTS
FOR THE YEAR ENDED 30TH			JUNE 2023		Publications		2023
				Fees	&Licences	Governance	Total
				8
Postage and	carriage			1,319	4		1,323
Staffcosts				135,975	393		136,368
Oftice expenses				995	3		998
Computer and hardware		expenses		54 533	158		54,691
Telephone				4,479	13		4,492
Depreciation	and amorti	sation		78,959	228		79,187
Professional	fees			29,696	86		29,782
Accountancy				114			114
Other costs				1,376	4		1,380
Recruitment	costs			490	I		491
Bank and credit card charges				12,595	36		12,631
Premises expenses				40,015	116		40,131
Advertising	and marketing			89,706	259		89,965
				450,252	1,301		451,553
ANALYSIS	OF GOVERNANCE		COSTS
Legal and professional						13,409	13,409
Auditom remuneration						7,596	7,596
Trustees expenses						40	40
Apportionment ofpremises costs						6,000	6,000
				450,252	1,301	27,045	478,598

EXPENDITLIRE ON:
CHARITABLE ACTIVITIES									Activities				Restated
FOR THE YEAR ENDED		30TH			JUNE 2022			Undertaken		Other Direct		Support	2022
									Directly		Costs	Costs	Total
Fees									682,403		8,377	478,927	1,169,707
Publications &Ilcences									15,373			1,377	16,750
Projects											2,690		2,690
Governance costs												29,844	29,844
									697,776		11,067	510,148	1,218,991
ANALYSIS OF SUPPORT			COSTS										Restated
FOR THE YEAR ENDED		30TH JUNE 2022								Publications			2022
									Fees		&Licences	Governance	Total
Postage and carriage									1,092		3		1,095
Staff costs									132,548		381		132,929
Office expenses									6,066		17		6,083
Computer and hardware	expenses								58,944		169		59,113
Telephone									5,542		16		5,558
Depreciation and amoitisation									108,021		311		108,332
Professional fees									14,726		42		14,768
Accountancy									102				102
Other costs									318		I		319
Recruitment costs									875		3		878
Bank and credit card charges									15,646		45		15,691
Premises expenses									55,844		161		56,005
Advertising and marketing									79,203		228		79,431
									478,927		1,377		480,304
ANALYSIS OF GOVERNANCE					COSTS
Legal and professional												16,470	16,470
Auditors remuneration												6,900	6,900
Council Member expenses												474	474
Apportionment ofpremises			costs									6,000	6,000
									478,927		1,377	29,844	510,148
The 2022 figures have been			restated to give a better relflection					ofthe split ofthe			charity's costs.	The reserves	remain
unchanged.
NET EXPENDITURE/INCOME					FOR THE YEAR
The net expenditure this	year is			stated after charging:								2023	2022
Auditors remunemtion				-	Audit							7,596	6,900
				-	Other services (consultancy)							114	102
Depreciation oftangible	fixed assets											25,318	37,626
Amortisation ofintangible		fixed			assets							53,869	70,706
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 financiai statements.
ANALYSIS OF STAFF	COSTS				AND REMUNERATION		OF					2023	2022
KEYMANAGEMENT	PERSONNEL
Salaries and wages												607,782	603,359
Social security costs												47,048	43,417
Pension contributions												32,156	33,733
												686,986	680,509
The average weekly number			of	staff employed		by the charity	during		the year were:			2023	2022
Charitable activities												24	25
Management and Administration												2	2
												26	27

	INTANGIBLE FIXEDASSETS		Couise
	FOR THE YEAR ENDED 30TH JUNE 2023	Goodwill	Development	Total
	COST OR VALUATION	6
	Balance at 1st July 2022	301,166	725,153	1,026,319
	Additions		14,664	14,664
	Balance at 30th June 2023	301,166	739,817	1,040,983
	AMORTISATION
	Balance at 1st July 2022	224,367	682,812	907,179
	Chmge for the year	25,599	28,270	53,869
	Balance at 30th June 2023	249,966	711,082	961,048
	NET BOOK VALUE as at 30th June 2023	51,200	28,735	79,935
8a.	INTANGIBLE FIXEDASSETS		Course
	FOR THE YEAR ENDED 30TH JUNE 2022	Goodwill	Development	Total
	COST OR VALUATION		f
	Balance at 1st July 2021	301.,166	699,366	1,000,532
	Additions		25,787	25,787
	Balance at 30th June 2022	301,166	725,153	1,026,319
	AMORTISATION
	Balance at 1st July 2021	198,768	637,705	836,473
	Charge for the year	25,599	45, 107	70,706
	Balance at 30th June 2022	224,367	682,812	907,179
	NET BOOK VALUE as at 30th June 2022	76,799	42,341	119,140
	TANGIBLE FIXEDASSETS		Equipment
	YEAR ENDED 30TH JUNE 2023		rk Software	Total
	COST OR VALUATION			6
	Balance at 1st July 2022		313,547	313,547
	Additions		3,887	3,887
	Balance at 30th June 2023		317,434	317,434
	DEPRECIATION
	Balance at 1st July 2022		279,367	279,367
	Charge for the year		25,318	25,318
	Balance at 30th June 2023		304,685	304,685
	NET BOOK VALUE as at 30th June 2023		12,749	12,749

TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS	Leasehold	Equipment
YEAR ENDED 30TH JUNE 2022		Improvement	& Software	Total
COST OR VALUATION
Balance at 1st July 2021		30,073	319,254	349,327
Additions			7,752	7,752
Disposals		(30,073)	(13,459)	(43,532)
Balance at 30th June 2022			313,547	313,547
DEPRECIATION
Balance at 1st July 2021		30,073	255,200	285,273
Charge for the year			37,626	37,626
Eliminated on disposal		(30,073)	(13,459)	(43,532)
Balance at 30th June 2022			279,367	279,367
NET BOOK VALUE as at	30th June 2022		34,180	34,180
STOCKS			2023	2022
			6
Finished goods and goods	for resale		6,579	10,436
DEBTORS			2023	2022
			6
Trade debtors			38,942	46,445
Prepayments and accrued income			16,236	20,192
Other debtors			1,313	65
			56,491	66,702
CREDITORS: AMOUNTS	FALLING DUE WITHIN ONE YEAR		2023	2022
				6
Trade creditors			12,198	32,930
Other creditors			16,089	17,231
Accruals and deferred income			40,302	49,864
			68,589	100,025
PROVISIONS FOR LIABILITIES			2023	2022
Balance brought forward			110,030	123,268
Movement in provision			(15,877)	(13,238)
Balance canied forward			94,153	I 10,030

14.	ANALYSIS OF	CHARITABLE FUNDS	CHARITABLE FUNDS	Brought			Carried
	YEAR ENDED 30TH JUNE 2023			Forward	Income	Expenditure	Forward
	UNRESTRICTED FUNDS
	General funds			873,138	1,081,241	(1,195,064)	759,315
	RESTRICTED FUNDS
	Open University				3,000	(3,000)
	TOTAL FUNDS			873,138	1,084,241	(1,198,064)	759,315
14a.	ANALYSIS OF	CHARITABLE FUNDS		Brought			Carried
	YEAR ENDED	30TH JUNE 2022		Forward	Income	Expenditure	Fonvard
							f
	UNRESTRICTED FUNDS
	General funds			757,840	1,331,599	(1,216,301)	873,138
	RESTRICTED FUNDS
	Open University			2,690		(2,690)
	TOTAL FUNDS			760,530	1,331,599	(1,218,991)	873,138
	Restricted fund purpose:
	Open Univetaity	- funding	received towards	ajoint project with Open University	for market research on Chinese		lemning
	market.

15.	ANALYSIS OF NET ASSETS BETWEEN FUNDS	ANALYSIS OF NET ASSETS BETWEEN FUNDS	2023	2023	2023
	YEAR ENDED 30TH JUNE 2023		Unrestricted	Restricted	Total
			Funds	Funds	Funds
					f
	Intangible	fixed assets	79,935		79,935
	Tangible	fixed assets	12,749		12,749
	Current assets		829,373		829,373
	Creditors	due within one yeiu	(68,589)		(68,589)
	Provision	for liabilities	(94,153)		(94,153)
			759,315		759,315
15a.	ANALYSIS OF NET ASSETS BETWEEN FUNDS		2022	2022	2022
	YEAR ENDED 30TH JUNE 2022		Unrestricted	Restricted	Total
			Funds	Funds	Funds
	Intangible	fixed assets	119,140		119,140
	Tangible	fixed assets	34,180		34,180
	Current assets		929,873		929,873
	Creditors	due within one year	(100,025)		(100,025)
	Provision	for liabilities	(110,030)		(110,030)
			873,138		873,138

		2023	2022
		6
Net movement in funds		(113,823)	112,608
Add: Depreciation		25,318	37,626
Add. Amotfisation		53,869	70,706
Decrease in stocks		3,857	6,246
Decrease/(increase)	in debtors	10,211	(18,785)
(Decrease) in creditotx		(47,313)	(135,146)
		(67,881)	73,255

	Land &Buildings	Land &Buildings
	2023	2022
In less than one year	30,000	30,000
More than one year	60,000	90,000
	90,000	120,000