Charity registration number 1041403 Company registration number 02888047 (England and Wales) LEARNING TO WORK (SOUTH EAsn LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGusf 2024
LEARNING TO WORK (SOUTH EAST) LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr R Cundy Mr M Fieldhouse Mr J French Mr K McGann Mr C Thomas Mrs R Varsani Mr R I Standen Mrs H Todd MrAJKemp (Resigned 18 March 2024) (Appointed 18 March 20241 (Appointed 9 May 20231 Charity number 1041403 Company number 02888047
LEARNING TO WORK (SOUTH EAST) LIMITED CONTENTS Page Trustees, report Independent examiner's report Statement of financial activities Balante sheet Statement of cash flows io Notes to the financial statements
LEARNING TO WORK (SOUTH EAST) LIMITED REPORT {INCLUDING DIRECTORS, REPORT) FOR THE PERIOD EhlDED 31 AUGUST2024 The Trustees present their annual report together with the financial statements of the charity for the 17 month period of I April 2023 to 31 August 2024. Since the company qualifies as small under section 383. the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directors Report) Regulations 2013 is not required. Objertlves and artivlties Principal actlvities The overall aim of the charity IS to broker relationships between education and business to enhance employability skills and contextualise work related learning for young people. Strategies for achieving objectives Throughout the year the charity continued to work in support of its key objettives. In setting our objectives foi the year arkd planning our activities. the trustees have considered the Charity Commission's guidance on public benefit including the guidance on public benefit and fee charging. In setting the level of fees. charges and concessions the trustees give careful consideration to the accessibility of its services for those on low income. Achievements and performance a. Key ffinanclal perforniance Indlcators The organisation has three main sour¢e5 of income.. Delivery of Service5, Events and Activitie5 for Schoo15 lincludin8 Work Experiencel Business Membership/ Sponsorship Contracted delivery as a result of successful 8rant/ fund applications and bids. In terms of expenditure, the largest expense for the organisation is salary cost at 82% of total operating cost. b. Review of activltles The Trustees took the decision to extend the 2023-2024 financial period to 17 months to facilitate a change to the organisation's financial year-end. The financial year has been amended from 1st April 31st March to 1st September - 31st August. This change aligns the organisation's financial year with the academic year. which represents the principal reporting period for both school and business-funded contracts. This alignment is expected to streamline internal processes and simplify the reporting function. The extended financial period presented several challenges. the Principal among them being= The resumption of the work experience service remained unachievable due to a lack of funding to re-estsblish the program. coupled with limited employer participation. Budgetary constraints within schools led to the reassessment of Careers Guidance programs. with some schools reducing the number of activities delivered. Financial uncertainty within the business sector, including changes to National Insurance and tsxation. contributed to hesitancy in allocating budgets to Corporate Social Responsibility initiatives. This includes the10ss of funding for the Enterprise Challenge from the Prince's Trust. Their recent restructuring has meant a sharper focus on more deprived areas of the country, principally the midlands and north of England. Despite the continued suspension of the formal work experience service, the organi5ation has made concerted efforts to provide alternative workplace experiences for the young people we support In schools.
LEARNING TO WORK (SOUTH EAST) LIMITED REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2024 Areas of OrEanisatlonal Growth During the financial period, the organisation recorded growth in the following service areas- Careers Guidance Workplace Visits Busine55-funded Artivitie5 Performance 5ummary- Academic Year 2023-2024 We are pleased to report the followSng performance outcomes for the academic year September 2023 to August 2024: 29,652 student attendees at Learning to Work events12022-2023- 28,7691 3.333 students received Level 6 Careers Guidance12022-2023- 2.648) 1.977 students participated in Workplace Visits12022-2023-. 713} 8.444 students engaged in Bu5ine55-funded activities12022-2023.. 7,5361 Partnershlp Programs We have continued to deliver business-led programs in collaboration with the followin8 partners: Heathrow The Prince's Trust SEGRO Ascot Racecourse Orange Business Grant Fundin8 We are grateful for the grant funding received from the Berkshire Community Foundatlon IBCFI, which supported the delivery of the following project: Bracknell Apprenticeship Event (December 20231- Bracknell Forest Ascot Supports (February 20241- Supported by Ascot Racecourse Taking Control (May 20241- Slough Income Analysls Comparing the 12-month period from 1st April 2023 to 31st March 2024 against the previous year, the organisation recorded increases in income across several key areas.. Career5 Guidance provision increased by 15.8% to £127,504 (2022-2023.. £110.0651 School Projects and Events income rose by 9.9% to £160,90212022-2023'. £146,468) Busine55 Delivery Income increased by 63.9% to £157,09712022-2023: £95,841) Financial Outcome The 17-month financial period concluded with an end-of-year deficit of £27.261. This outcome was largely attributable to the inclusion of two August periods within the reporting year. August represent5 a period of minimal activity and limited income. owing to the school summer holidays, whilst fixed salary costs continue to be incurred. Deficit recorded during August 2024.. £30,717 Deficit recorded during August 2023.. £38,772
LEARNING TO WORK (SOUTH EAST) LIMITED REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST2024 Financial review . Going concern After makin8 appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they ¢ontinue to adopt the going concern basis in preparing the financial statements. b. Re5effts pollcy The Board of Trustees has agreed sufficient reserves to be held by the charity at the year end. They have earmarked all unrestricted funds to meet contractual liabilities and statutory employment obligations. At the year-end, the charity had available reserves of £73.19712023.. £ICrf).4581 held In order to continue to provide services in furtherance of its objects should there be a temporary shortfall in incoming resources. c. Materlal Investments policy Under the memorandum and articles of association, the charity has the power to invest in any way the trustees wish. Plans for the Future- 2024-2025 Our strate8ic vision for the 2024-2025 f inancial year remains centred on maintaining the hi8h standard of servi¢e delivery for which the organisation is known, while expanding our offer to schools and businesses Wlthin our existing geographical footprint. Key areas identified for growth in the coming year, which will form the core focus of our business development activities. include: Careers Guidance Busine55 Partner Programs Workplace Visits The income f0C0st for the financial year 2024-2025 indicates that the organlsatlon is on track to generate a small surplus by year-end, reflecting prudent financial planning and sustainable growth. Over the course of the year, we aim to: Increase the value and reach of our Careers Guidance provision. Expand Business Delivery income by strengthening relationships with existing partners and establishing new collaborations. Build upon the growing success of Workplace Visits as a meaningful and scalable alternative to traditional work experience placements. These developments will be undertaken with a continued commitment to supporting both schoo15 and businesses In a responsive and appropriate manner, ensuring we uphold the high standards that underpin our reputation. Ongoing review of business planning, development initiatives. and strateEiC direction will be essential to ensure the organisation remains resilient, adaptable, and well-positioned for long-term sustainability. It 15 the policy of the organisation that unrestricted fund5 which have not been designed for a specific use should ideally be maintained at level equivalent to between three and six month's expenditure. The board considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised.
LEARNING TO WORK (SOUTH EAST) LIMITED REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED FOR THE PERIOD ENDED 31 AUGUST2024 Structure. governance and management Constltutlon The company was set up by Memorandum of Association on 14 January 1994 and is re8iStered as a charitable company limited by guarantee. Method of appointment or elertlon of trustees The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. Or8anlsatlonal structure and declslon making The charity is ultlmately governed by the Board of Trustee5 who agree5 and monitors the Forward plan and approves all the Charity's policies. Induction and training of new trustees Trustees are sought for the Board specifically to add value to the charity. This is both in terms of creating a Board that is representative of the community the Charity serves and one that has all the skills and experience required to properly carry out the work of the charity. When a potential trustee is identified, they are invited to attend a number of Board meetings in the Capacity of Observer. Once they and the Board have gained understsndin8 of each other they are nominated for the portion of trustee. The existing trustees vote by way of a show of hands and a unanimous decision is sought. The vote is carried out in private without the prospective trustee being present. Most trustees are familiar with the practical work of a charity- New trustees undergo an orientstion day to brief them on their legal obligations under charity and company law. the content of the Memorandum and Articles of association, the committee and decision making, the business plan and recent financial performances of the charity. Trustees are encoura8ed to attend appropriate external training events where these will facilitate the undertaking of their role. Risk manazement 'Learning to Work, acknowledges at all times the risks associated with its work as a charitable company. The board of trustees ensures that its objectives, philosophy and strategy encompasses the identification and control of risk at all times. recognises that such risk involves the following.. -Governance and Management -operational risk -Financial risk -Environmental and external risk -Law and regulation compliance risk To ensure that such risk is identified and appropriate control measures are put into place, the board of trustees ensures that the Chief Executive Officer ICEOI undertake5 regular review and evaluation of all aspects of the company and submits a regular risk analys15 to the board.
LEARNING TO WORK (SOUTH EAST) LIMITED REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUEDI FOR THE PERIOD ENDED 31 AUGUST 2024 Reference and administrative details of the wmpanyi its trustees and advisors year ended 31 August 2024 Trustees Mr K McGann, Chalr Mr RH Cundy Mr Rl Standen Iresigned 18 March 2024) Mr MP Fieldhouse Mr J French Mrc Thomas Mrs Rama Varsani Mr Andrew Kemp ljoined 9 May 2023) Mr5 Helen Todd (joined 18 March 20241 Cornpany registered number 02888047 Charity registered number 1041403 Registered office 2-4 Packhorse Road Gerrards Cross Buckinghamshire SL9 7QE Principal operating office Learning to Work (South East) Limited 176 Butkingham Avenue Slough Berkshire SLI 4RD Chief Executive Officer Mrs R Burt Independent Examiner Nunn Hayward LLP 24 Packhorse Road Gerrards Cross Buckinghamshire SL9 7QE Bankers Barclays Bank plc 10 High street Marlow Buckinghamshire SL7 IAR
LEARNING TO WORK (SOUTH EAST) UMITED REPORT (INCLUDING DIREcfoRS' REPORT) {CONTINUED FOR THE PERIOD ENDED 31 AU6UST2024 Statement of respDnsibilitjes The trustees. who ?re ?Iso the directors of Leamln8 to Work (South East) Lithited for the purpose of ci>mpaw tsw are respt>nsible for preparing the Report ¥nd the lin¢la1 st¥tement5 in ?ccord?nce with 8.PPlicable l¥w ?nd United Kingdom Accounting Standards (United Kin8dom Generally A¢¢epted Accou#liDg Prncri¢el. corn¥ Law reqltiros the tNstees tt) prepare financial tstements Ipr t4¢h financial ye•.r which 8iVE ? true 8nd lair view of the stste of affaks of the chpritable company and of the IncomlnB resources and application of resources, inclu4Jlng the income and expenditure. Of the charitablecompany for that year. ln pParin8th¢s¢flna¢Ial statements, the tiustees are requId to: - select sultable acLountlng pollcles and then apply them conslstently; - c4)serve ihe methods ènd principles in Iht Charities SORP; - make jud8ements and estimates thBt are reasonable and prndeirt; state whether applicèble accountin8 strndards have been followed, svbieci to any matertal dep3rtUfe5 disclosed and explalned in the the tinantial statements. prepore the financial statfiments on the golne ¢oncerr bpsis vnless it is in¥ppropri¥te iv pr£sumo ib•t the will conlinue ID opeIl0n. The trustees are re5ponsil)le for keeping adeouate x¢ountirt£ records that disc105e with fea50nable BccuRcy at any tlmè the fina101 positlon of the tharltable compèny and ename them to ensure that the fln8nclal statements carnply with Ihe Companies Acr 2006. They are als0 responsible for safe8uardin& the asseis of th¢ ¢haritsble comparty and hence for tèkinB ceasoTrabJe thp$ lor the preventltsn Jnd detection of fftud ind other Irregularltles. Peport on. the rustees Incorporating a Strategic rewrt. approved by onder of the boattj of trustees, as tl>E company direttor5, 0/2 ..and signed on the toard's bfrhalf by,, McGa aK of Trustee5
LEARNING TO WORK (SOUTH EAST) LIMITED INDEPENDENT EXAMINER'S REPORT TO THE OF LEARNING TO WORK (SOUTH EAST) LIMITED I report to the charity trustees on my examination of the accounts of the Company for the period ended 31 August 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respert of my examination of the charity's financial Statements as carried out under section 145 of the Charities Act 2011 Ithe 2011 Actl- In carrying out my examination I have followed all the applicable Dirertions given by the Charity Commission under section 14515llb) of the 2011 Act. Independent examinerfs statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in sertion 145 of the 2011 Act. I confirm that l am qualified to undertake the examinatlon because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination, I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any materlal respect: accountin8 records were not kept in respect of the Company as required by section 386 of the 2006 Act; or the financial statements do not accoid wtth those records; or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered a5 part of an independent examination- or the financi31 statements have not been prepared in accordance with the methods and principles of the Statement Df Recommended Practice for accounting and reporting by charities applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report In order to enable a proper understanding of the financial sratements to be reached. Slmon Dodd ICAEW Nunn Hayward LLP Chartered Accountants 2-4 Packhorse Road Gerrards Cross Bucks SL9 7QE 22 May 2025
LEARNING TO WORK (SOUTH EAST) LIMITED STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 AUGUST2024 Unrestrlrted funds 2024 Restrlrted funds 2024 Total Unrestrlcted funds 2023 Restrirted fund5 2023 Total 2024 2023 Notes Incomefrom: Charitable activities Investments 736,S20 1,911 25,000 761,520 1,911 487,193 262 31,000 518.193 262 Total income 738,431 25.000 763,431 487,455 31,000 518,455 Expenditure on: Charitable activities Other expenditure 764,702 1,153 25,000 789,702 1.153 469,171 2.006 31,000 500.171 2.lJ)6 Totsl expenditure 765,855 25,000 790,855 471,177 31,0(X) 502,177 Net incomellexpenditurel and movement in funds 127,424} 127,4241 16,278 16,278 Reconciliation of funds: Fund balances at l April 2023 100,458 100,458 84,180 84,180 Fund balances at 31 August 2024 73,034 73,034 100,458 100,458 The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
LEARNING TO WORK {SOUTH EAST) LIMITED BALANCE SHEET ASAT31 AUGUST2024 2024 2023 Not Fixed assets TanBible assets li 7,354 1210 CuryÈnt Debtors Cash at bank and ITr hand 27,860 81.616 65,468 J.42.687 109,4?6 (27.035) 208.155 (79282) CredftO. amothttsfallitt8 duèwithitt ¢•ne yèar Net tyrfent xsets 82,411 128,873 Total assets lesscurrent Ilabllltles 89.795 131,083 Cjedhtsrs: amourtstslllng Ilu¢ r rnore than one year Is (16,7611 (30.6251 Net assets 73.034 100,458 The funds of the Vnrésiricted fund5 18 73,034 IiKI,458 73,034 l(K).458 The fompany is eniiied to the oxemption from the avdit reglr¢M¢ftt Cohtalned In stction 477 ofthe Comp?nies Acl 21)06. the period ended 31 August 2024. The directors acknowledge their re5ponslbllltles for complying with ihe requirernents of the Companies Art 2006 wlth respect ti) ¥countÈrt8 re¢orés and the preparation of fifi4n¢j?l sl¥tement5. Th¢ members have not requlred the ¢ornp?ny obtslft an audlc of It$ financpdl ate[nentS fDr the period in qvesiion in acc4>rdart¢ with sectio)7 476. Thesefiftancial starements have been prepared ift accornce w4th th¢ provisions applicable to comp3*ies subje£ttothe sm41 companies reÈtrme. The fifjan(ial 5tatemem5 We apprt)ved bv the Bo•r¢ of Trvst¢es on.. McG8nn r of Trustees Compary fe8iSlQt4on number028880471EnglpnLI and Wales)
LEARNING TO WORK (SOUTH EAST) LIMITED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 AUGUST2024 2024 2023 Notes Cash flows from operatlng attlvltles Cash (absorbed byllgenerated from operations 21 136,6091 62,042 Investing artivities Purchase of tangible fixed assets Investment income received {11,9531 1,911 {3,316) 262 Net tash used in investing artivities 110,0421 13,0541 Financing activities Repayment of borrowings 114,420) 18,5421 Net cash used in financlng activities {14,4201 18,5421 Net (decreasellincrease in cash and cash equivalents 161.0711 50,446 Cash and cash equlvalents at beginnlng of period 142,687 92,241 Cash and cash equivalents at end of period 81,616 142,687 10-
LEARNING TO WORK (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST2024 Accountlng pollcles Charlty Informatlon Learning to Work (South East) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 2-4 Packhorse Road, Gerrards Cross, Buckinghamshire, SL9 7QE. 1.1 Reportlng perlod These financial statements cover the extended reporting period of Learning to Work (South East) Limited for the 17- month peiiod ended 31 August 2024. The previous financial statements covered the 12-month period ended 31 March 2023. The extension was made to align the company's financial year-end with the school year-end, ensuring that financial reporting better reflect5 the company's operations and revenue cycles in line with the academic calendar. As a result, the figures presented in the financial statements are for a 17-month period and 3re therefore not directly comparable with the prior year's 12-month period. 1.2 Accounting convention The financial statements of the charitable company. which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191., Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the . Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. [modified to include the revaluation of freehold properties and to include investment propertie5 and certain financial instruments at fair valuel. The principal accounting policies adopted are set out below. 1.3 Goln8 concern The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including the annual budget, in making their assessment. 1.4 Income All income is recognised in the Statement of Financial Artivities once the charity has entitlement to the fund5, it is probable that the income will be received and the amount can be measured reliably. Donated services or facilities are recognised when the company h3s control over the item. any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP {FR5 1021. the general time of volunteer5 is not recogni5ed: refer to the Trustees, report for more information about their contribution. On receipt, donated professional services and donated facilities are recogn15ed on the basi5 of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. 11
LEARNING TO WORK (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST2024 Accounting policies Icontinued) 1.5 Expendlture Expenditure 15 recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it 15 probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, includlng sUPPOrt costs involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at C05t or valuation, net of depreciation and any impairment losses. Depreciation is reco8nised so as to wrlte off the cost or valuation of asset5 less their residual values over their useful lives on the following bases.. Flxtures and fittings On a straight line basis over three years The gain or1055 arising on the disposal of an asset is determined as the difference between the sale proceeds and the carryin8 value of the asset, and is recognised in the statement of financial activities. 1.7 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. TermSnation benefits are recognised immediately as an expense when the is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.8 Retirement benefrts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements The preparation of the financial statements requires the Trustees and management to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources, The estimates and associated assumptions are based on historical experience and other fartor5 that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognlsed in the period in whith the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 12-
LEARNING TO WORK (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST2024 Charitable artivities Unrestrlrted Income Re5trlrted Income Total 2024 Unrestrlrted Income Restrfrted Income Total 2023 2024 202a 2023 Income from projects 736,520 25,0(KJ 761,520 487,193 31,000 518.193 Analysis by fund Unrestricted funds Restricted funds 736,520 736,520 25,000 487,193 487,193 31,000 25.000 31,000 736,520 25.000 761,520 487,193 31,000 518,193 Income from investments Unrestrirted funds 2024 Unre5tricled funds 2023 Interest receivable 1,911 262 13-
LEARNING TO WORK (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2024 Expenditure on charitable activities Charitable expenditure 2024 Charltable expendlture 2023 Dirert costs stsff costs Depreciation and impairment Other operating leases Insurance 641.081 6,809 411,340 3,541 3,772 3,943 6,696 6.316 232 9,386 11.348 7,992 21.423 2.908 8.034 6.534 10,953 11,570 175 13,882 19.128 11,153 38,607 7,755 18,815 Telephone Postsge and stationery Advertising Professional costs General project costs Recruitment and other staff costs IT services Travel and entertaining Rates & Service charges 786,462 496.931 sha of support and govemance costs (see note I Governance 3.240 3.240 789,702 500,171 Analysls by fund Unrestricted funds Restricted funds 764,702 25,000 469,171 31.000 789.702 500,171 Net movement in funds 2024 2023 Net movement in funds is stated after charging/lcrediting) Independent examiner fees Depreciation of owned tangible fixed a55et5 Other operating lease 3.240 6,809 11,316 3,240 3,541 9,163 Trustees, remuneratlon and beneflts There were no trustees, remuneration or other benefits for the period ended 31 August 2024 nor for the year ended 31 March 2023. 14-
LEARNING TO WORK (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST2024 Employees The average monthly number of employees during the period was.. 2024 Number 2023 Number 16 15 Employment costs 2024 2023 Wages and salaries Social security cost5 Other pension costs 587,923 40,964 12,194 374.832 28.902 7,606 641,081 411,340 The number of employees whose annual remuneration was more than £60,000 is as follows: 2024 Number 2023 Number Other expenditure Unrestrlcted fund5 2024 Unrestrirted fund5 2023 Financing costs 1,153 2,006 10 Taxation The charity is exempt from taxation on its activities because all its income is 3pplied for charitable purposes. 15-
LEARNING TO WORK (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST2024 11 Tangible fixed assets Flxtures and rOn8$ Cost At l April 2023 Additions 102.376 11,953 At 31 August 2024 114,329 Depre¢iatlon and Impalrment At l April 2023 Depreciation charged in the period 100,166 6.809 At 31 August 2024 106,975 Carrying amount At 31 August 2024 7.354 At 31 March 2023 2.210 12 Debtors Z024 2023 Amounts falllng due wlthln one year: Trade debtors Prepayments and accrued income 24.432 3,428 56,690 8,778 27,860 65,468 13 Loans and ovenlrafts 2024 2023 Other loans 26,205 40,625 Payable within one year Payable after one year 10,000 30,625 16.761 16-
LEARNING TO WORK (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 31 AUGUST2024 14 Credltors: amounts falling due within one year 2024 2023 Borrowings Trade creditors Accruals and deferred income 9,444 11,516 6,075 10,000 14,549 54,733 27.035 79,282 15 Creditors: amounts falling due after more than one year 2024 2023 Borrowings 16,761 30,625 16 Retirement benefit schemes 2024 2023 Deflned contrlbution schemes Charge to profit or1055 in respect of defined contribution schemes 12.194 7,606 The operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the in an independently administered fund. 17 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At l April 2023 Incorning resource5 Resources expended At 31 August 2024 Berkshire Community Foundation- Ascots Supports Programme Wates Family Enterprise Trust Grant for Start Employability Now- Slough Berkshire Community Foundation - BCF- Taking Control Grant 10,000 {io,0001 10,000 {io,000} 5,000 15,0001 25,000 125.0001 17-
LEARNING TO WORK (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2024 17 Restrlrted funds (Continued) Previous year: At l April 2022 Incomlng resources Resources expended At 31 March 2023 31.000 {31,0001 Purpose of restrirted Funds Berkshire Community Foundation - Ascot Supports This represents grant finding received from the Berkshire Community Foundation and aims to support local charities and community groups within Berkshire. The fund was expended at 31 August 2024. Wates Famlly Enterprlse Trust Grant for Start Employablllty Now This represents grant finding received from the Wates Family Enterprise and aims to support programmes in Slough that equip young people with essential skills and experiences to improve their employment prospects. The fund was expended at 31 August 2024. Berkshire Communlty Foundatlon - Takln8 Control Grant This represents grant findlng recelved from the Berkshire Community Foundation and aim5 to support local charities and community group5 Within Berkshire. The fund wa5 expended at 31 August 2024. 18 Unrestrirted funds The unrestricted funds of the charity comprise the unexpended bèlances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the tru5tee5 for specific purposes. At l Aprll 2023 In¢omlnE resources Resources expended At 31 August 2024 General funds 100,458 738,431 {765,8551 73,034 Previous year: At l April 2022 Incoming resources Resources expended At 31 March 2023 General fund5 84,180 487.455 1471,1771 100,458 19 Related party transactions There were no disclosable related party transactions durin8 the period12023 - none). 18-
LEARNING TO WORK (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 31 AUGUST2024 20 Unrestricted funds Within unrestricted fund5 there is a designated amount of £65,000 {2023 - £65,000) which the trustees are retaining in ase it become5 nece55ary to acquire new premises in the for5eeable future. This amount 15 therefore held in reserves by the charity and is not available for use for future projects. The trustees have earmarked all unrestricted funds not held in reserve for rent and staffing costs, against future projects to be undertaken by the charitable company. 21 Cash generated from operations 2024 2023 IDeficitl/surpus for the period 127,4241 16.278 Adjustments for.. Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets 11,9111 6,809 {2621 3,541 Movements In working capltal.. Decrease in debtors IDecrea5ellincrease in creditors 37,608 151.6911 6,270 36,215 Cash (absorbed byllgenerated from operations 136,6091 62.042 22 Analy515 of changes in net funds At l Awll 2023 Cash flows At 31 Au8USt 2024 Cash at bank and in hand 142,687 161,0711 81.616 Loans falling due withln one year Loans falling due after more than one year iio.0001 130,6251 556 13,864 19,444) 116,7611 102,062 146,6511 55.411 19-