2023-08-31-accounts - The Yarlet Trust

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			Page
Reference and Administrative	Details
Report ofthe Trustees		2	to	6
Report ofthe Independent Auditors		7	to	10
Statement ofFinancial Activities
Statement ofFinancial Position			12
Statement ofCash Flows
Notes to the Statement ofCash	Flows		14
Notes to the Financial Statements		15	to	26
Detailed Statement ofFinancial	Activities	27	to	28

	for	the Year E	nded 31Au ust	2023
					31.8.23	31.8.22
			Unrestricted	Restricted	Total	Total
			funll	fund	funds	funds
		Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies			1,159		1,159	1,158
Charitable activities
Gross fees and extras less discounts			1,SS1,145		1,881,145	1,855,667
Other trading activities						9,277
Investment income			948		948	65
Other income			25,108	149,080	174,188	45,781
Total			1,908,360	149,0SO	2,057,440	1,911,948
EXPENDITURE ON
Raising funds			16,360		16,360	13,089
Charitable activities
Provision ofeducation	costs		1,926,667	71,667	1,99S,334	1,842,734
Total			1,943,027	71,667	2,014,694	1,855,823
NKT INCOME/(EXPENDITURE)			(34,667)	77,413	42,746	56,125
Transfers between funds		21	65,951	(65,951)
Net movement in funds			31,284	11,462	42,746	56,125
RECONCILIATION	OF FUNDS
Total funds brought forward			207,547	8,853	216,400	160,275
TOTAL FUNDS CARRIED FORWARD			238,831	20,315	259,146	216,400

	Statement ofFinancial Position	Statement ofFinancial Position
				31.8.23	31.8.22
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes
FIXEDASSETS
Tangible assets	14	453,095		453,095	415,426
CURRENT ASSETS
Stocks	15	37,500		37,500	30,930
Debtors	16	106,567	19,963	126,530	169,911
Cash at bank and in hand		152,265	48,036	200,301	164,310
		296,332	67,999	364,331	365,151
CREDITORS
Amounts falling due within one year	17	(398,096)	(47,684)	(445,780)	(401,677)
NET CURRENT ASSETS		(101,764)	20,315	(81,449)	(36,526)
TOTAL ASSETSLESSCURRENT
LIABILITIES		351,331	20,315	371,646	378,900
CREDITORS
Amounts falling due after more than one year	18	(112,500)		(112,500)	(162,500)
NET ASSETS		238,S31	20,315	259,146	216,400
FUNDS	21
Unrestricted funds				238,S31	207,547
Restricted funds				20,315	8,853
TOTAL FUNDS				259,146	216,400

				Statement ofC for the Year Ended	ash Flows 31Au ust 2023
					31.8.23	31.8.22
				Notes
Cash flows from	operating		activities
Cash generated Irom operations					191,198	34,069
Interest paid					(15,855)	(11,615)
Net cash provided	by operating activities				175,343	22,454
Cash flows from	investing		activities
Purchase oftangible fixed		assets			(90,300)	(37,505)
Interest received					948	65
Net cash used in	investing	activities			(89,352)	(37,440)
Cash flows from	financing		activities
Loan repayments	in year				(50,000)	(37,500)
Net cash used in	financing		activities		(50,000)	(37,500)
Change in cash and cash		equivalents		in the
reporting period					35,991	(52,486)
Cash and cash equivalents			at the beginning
ofthe reporting	period				164,310	216,796
Cash and cash equivalents			at the end	ofthe
reporting period					200,301	164,310

			Notes to the Statement ofCash Flows for the Year Ended 31Au ust 2023	Notes to the Statement ofCash Flows for the Year Ended 31Au ust 2023	Notes to the Statement ofCash Flows for the Year Ended 31Au ust 2023	Notes to the Statement ofCash Flows for the Year Ended 31Au ust 2023	Notes to the Statement ofCash Flows for the Year Ended 31Au ust 2023
RECONCILIATION			OFNET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
						31.8.23	31.8.22
Net income	for the	reporting			period (as per the Statement ofFinancial
Activities)						42,746	56,125
Adjustments	for:
Depreciation	charges					51,037	54,662
Loss on disposal of		fixed		assets		1,594	4,255
Interest received						(948)	(65)
Interest paid						15,855	11,615
Increase in stocks						(6,570)	(14,810)
Decrease/(increase)		in debtors				43,381	(76,129)
Increase/(decrease)		in creditors				44,103	(1,584)
Net cash provided		by	operations			1919198	34,069
ANALYSIS	OF CHANGES IN NET (DEBT)/FUNDS
					At 1.9.22	Cash flow	At 31.S.23
Net cash
Cash at bank	and in	hand			164,310	35,991	200,301
					164,310	35,991	200,301
Debt
Debts falling	due within			1 year	(50,000)		(50,000)
Debts falling	due after		1	year	(162,500)	50,000	(112,500)
					(212,500)	50,000	(162,500) .
Total					(48,190)	85,991	37,801

Leases
Rentals payable	and receivable		under	operating	leases are charged to the SOFA on a straight-line	basis over	the
period ofthe lease.
DONATIONS	AND LEGACIES
					31.8.23	31.8.22
Donations					1,159	1,158
OTHER TRADING ACTIVITIES
					31.8.23	31.8.22
Activities for generating		fund				9,277
INVESTMENT	INCOME
					31.8.23	31.8.22
Deposit account	interest				948	65

			THE YARLET TRUST	THE YARLET TRUST
			Notes to the Financial Statements -		continued
				for the Year Ended 31Au ust	2023
6.	INCOME FROM CHARITABLE			ACTIVITIES
						31.8.23	31.8.22
			Activity
	Gross fees		Gross fees and extras less discounts			2,212,310	2,124,355
	Remissions, including
	bursaries &scholarships		Gross fees and extras less discounts			(331,165)	(268,688)
						1,881,145	1,855,667
7.	RAISING FUNDS
	Other trading activities					31.8.23	31.8.22
	Opening stock					30,930	16,120
	Purchases					22,930	27,899
	Closing stock					(37,500)	(30,930)
						16,360	13,089
8.	CHAIUTABLE ACTIVITIES COSTS
						Support
					Direct	costs (see
					Costs	note 9)	Totals
	Provision ofeducation costs				1,967,490	30,844	1,998,334
9.	SUPPORT COSTS
							Governance
							costs
	Provision ofeducation costs						30,844
10.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure)	is	stated	after charging/(crediting):
						31.8.23	31.8.22
	Auditors' remuneration					6,930	6,480
	Depreciation - owned assets Deficit on disposal offixed		assets			51,037 17594	54,663 4,255

STAFF COSTS
				31.8.23	31.8.22
Wages and salaries				1,063,0S8	948,046
Social security costs				86,745	74,664
Other pension costs				117,010	107,133
				1,266,843	1,129,843
The average monthly		number ofemployees	during the year was as follows:
				31.8.23	31.8.22
Charitable activities				43	43
Cost ofgenerating	funds			1	1
Management and admin ofthe charity				3	2
				47	46

Notes to the Financial Statements -continued for the Year Ended 31Au ust 2023	Notes to the Financial Statements -continued for the Year Ended 31Au ust 2023
COMPARATIVES FOR THE STATEMENT OFFINANCIAL ACTIVITIES
	Unrestricted	Restricted	Total
	fund	fund	funds
INCOME AND ENDOWMENTS FROM
Donations and legacies	1,158		1,158
Charitable activities
Gross fees and extras less discounts	1,855,667		1,855,667
Other trading activities		9,277	9,277
Investment income	65		65
Other income	3,722	42,059	45,781
Total	1,860,612	51,336	1,911,948
EXPENDITURE ON
Raising funds	6,889	6,200	13,089
Charitable activities
Provision ofeducation costs	1,836,626	6,108	1,842,734
Total	1,843,515	12,308	1,855,823
NET INCOME	17,097	39,028	56,125
Transfers between funds	43,419	(43,419)
Net movement in funds	60,516	(4,391)	56,125
RECONCILIATION OF FUNDS
Total funds brought forward	147,031	13,244	160,275
TOTAL FUNDS CARRIED FORWARD	207,547	8,853	216,400

14.	TANGIBLE FIXEDASSETS
			Fixtures
		Long	and	Motor
		leasehold	fittings	vehicles	Totals
	COST
	At 1 September 2022	1,455,491	93,051	36,176	1,5S4,71S
	Additions	84,508	5,792		90,300
	Disposals		(4,714)		(4,714)
	At 31August 2023	1,539,999	94,129	36,176	1,670,304
	DEPRECIATION
	At 1 September 2022	1,109,002	48,S21	11,469	1,169,292
	Charge for year	26,609	1S,251	6,177	51,037
	Eliminated on disposal		(3,120)		(3,120)
	At 31August 2023	1,135,611	63,952	17,646	1,217,209
	NET BOOK VALUE
	At 31August 2023	404,3SS	30,177	1S,530	453,095
	At 31August 2022	346,489	44,230	24,707	415,426
15.	STOCKS
				31.8.23	31.8.22
	Stocks			37,500	30,930
16.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
				31.8.23	31.8.22
	Trade debtors			77,059	122,755
	Other debtors			22,522	29,772
	Prep ayments			26,949	17,384
				126,530	169,911

		31.8.23	31.8.22
Bank loans and overdrafts	(see note 19)	50,000	50,000
Trade creditors		30,581	76,703
Social security and other	taxes	20,089	18,680
Other creditors		12,297	16,685
Accruals and deferred income		332,S13	239,609
		445,7S0	401,677

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THA	N ONE YEAR
	31.8.23	31.8.22
Bank loans (see note 19)	112,500	162,500
LOANS
An analysis ofthe maturity ofloans is given below:
	31.8.23	31.8.22
Amounts falling due within one year on demand:
Bank loans	50,000	50,000
Amounts falling between one and two years:
Bank loans - 1-2 years	50,000	50,000
Amounts falling due between two and five years:
Bank loans - 2-5 years	62,500	112,500

			31.8.23	31.8.22
Within one year			99,4SO	15,499
Between one and five years			390,392	26,660
In more than five years			394,167
			SS4,039	42,159
MOVEMENT IN FUNDS
		Net	Transfers
		movement	between	At
	At 1.9.22	in funds	funds	31.8.23
Unrestricted funds
General fund	207,547	(34,667)	65,951	238,831
Restricted funds
General Restricted	8,853	77,413	(65,951)	20,315
TOTAL FUNDS	216,400	42,746		259,146
Net movement in funds, included	in the above are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
Unrestricted funds
General fund		1,908,360	(1,943,027)	(34,667)
Restricted funds
General Restricted		149,080	(71,667)	77,413
TOTAL FUNDS		2,057,440	(2,014,694)	42,746

Comparatives for moveme	nt in funds
			Net	Transfers
			movement	between	At
		At 1.9.21	tn funds	funds	31.8.22
Unrestricted funds
General fund		147,031	17,097	43,419	207,547
Restricted funds
General Restricted		13,244	39,028	(43,419)	8,853
TOTAL FUNDS		160,275	56,125		216,400
Comparative net movement	in funds, included	in the above are as follows:
			Incoming	Resources	Movement
			resources	expended	in funds
Unrestricted funds
General fund			1,860,612	(1,843,515)	17,097
Restricted funds
General Restricted			51,336	(12,308)	39,028
TOTAL FUNDS			1,911,948	(1,855,823)	56,125

A current year 12 months and prior y	ear 12 months combined positi	on is as follows:
		Net	Transfers
		movement	between	At
	At 1.9.21	in funds	funds	31.8.23
Unrestricted funds
General fund	147,031	(17,570)	109,370	238,831
Restricted funds General Restricted	13,244	116,441	(109,370)	20,315
TOTAL FUNDS	160,275	98,871		259,146

			31.8.23	31.8.22
INCOME AND ENDOWMENTS
Donations and legacies
Donations			1,159	1,158
Other trading activities
Activities for generating		fund		9,277
Investment income
Deposit account interest			948	65
Charitable activities
Gross fees			2,212,310	2,124,355
Remissions, including	bursaries &scholarships		(331,165)	(268,688)
			1,881,145	1,855,667
Other income
Other income resources			174,1SS	45,781
Total incoming resources			2,057,440	1,911,948
EXPENDITURE
Other trading activities
Opening stock			30,930	16,120
Fundraising costs				6,363
Uniform purchases			22,930	21,536
Closing stock			(37,500)	(30,930)
			16,360	13,089
Charitable activities
Salaries, wages and associated costs			1,052,456	937,798
Social security			S6,745	74,664
Pensions			117,010	107,133
Rent and rates			106,776	99,093
Insurance			21,201	24,617
Heating and lighting			65,300	73,062
Office and telephone	expenses		43,150	26,390
Advertising			5,601	12,482
Trips and travel costs			(1,089)	(5,897)
Grounds and gardens			3,00S	17,332
Games equipment and recreation			10,43S	1,944
Carried forward			1,510,596	1,368,618

	THE YARLET TRUST
	Detailed Statement ofFinancial Activities
	for the Year Ended 31Au ust 2023
		31.8.23	31.8.22
Charitable activities
Brought forward		1,510,596	1,368,618
Repairs and maintenance		57,754	76,019
Household expenses		98,155	88,147
Motor expenses		23,799	17,132
Subscriptions		6,675	6,736
Other expenses		7,665	9,207
Bad debts		21,150	5,770
Lesson expenses		8,725	6,056
School expenses		44,307	38,505
Examination fees		3,887	10,641
Educational activity costs		1089806	118,619
Boarding costs		7,485	5,451
Depreciation oftangible fixed assets		51,037	54,662
Loss on sale oftangible fixed assets		1,594	4,255
Bank interest		3,673	4,972
Bank loan interest		12,182	6,643
		1,967,490	1,821,433
Support costs
Governance costs
Wages		10,632	10,248
Auditors' remuneration		6,930	6,480
Legal fees		13,282	4,573
		30,844	21,301
Total resources expended		2,014,694	1,855,823
Net income		42,746	56,125