EC Meeting Papers July 2018

GENERAL FEDERATION OF TRADE UNIONS EDUCATIONAL TRUST

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2017

2017 Total funds

2016 Total funds

Restricted fund

Unrestricted funds

Notes

£

£

£

£

Income and endowments

Voluntary income: Gift Aid

- -

- -

- -

100,000

Membership subscriptions

-

Income from hotel trading activities

1,707,559

-

1,707,559

1,470,793

Publications

-

-

-

-

Investment income

2

-

44

44

70

Incoming resources from charitable activities: Course fees, events and seminars

- -

89,858

89,858

110,338

Grants receivable

-

-

-

Other incoming resources: Other income

- -

12,811

12,811

6,232

Sale of assets

-

-

-

Total income

1,707,559

102,713

1,810,272

1,687,433

Expenditure

Costs of hotel trading activities

1,802,772

- -

1,802,772

1,635,643

Costs of training company trading activities

-

-

-

Expenditure on charitable activities

141,390

271,397

412,787

443,159

Governance

-

13,182

13,182

36,069

Total expenditure

1,944,162

284,579

2,228,741

2,114,871

Net income/(expenditure)

5

(236,603)

(181,866)

(418,469)

(427,439)

Transfers between funds

-

-

-

-

Net movement in funds

(236,603)

(181,866)

(418,469)

(427,438)

Net gains/(losses) on investments

-

-

-

-

Net movement in funds

(236,603)

(181,866)

(418,469)

(427,438)

Reconciliation of funds

Total funds brought forward

2,207,043

(1,059,958)

1,147,085

1,574,523

Total funds carried forward

1,970,440

(1,241,824)

728,616

1,147,085

Continuing operations All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

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