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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|
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||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|
##
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##
||||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|
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|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|
##
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##
|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|
##
##
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##
|||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|
##
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##
|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|
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||||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|