Companyregistrationnumber: 04324686 Charity registration number: 1091735 The Learning Curve (Voluntary Sector Development) (A company limited by share capital) Annual Report and Financial Statements for the Year Ended 31 March 2024 Peplows Ltd Moorgate House King Street Newton Abbot Devon TQ12 2LG The Learning Curve (VoIuntary Sector Development) Contents Reference and Administrative Details Trustees, Report 2to4 Statement of TnL8tees' R¢S￿nsibIlItieS Independent Examinerfs Report Statement of Financial Activities BalaD¢e Sheet Notes to the Financial Ststements 9t018 The Learnlng Curve (Voluntary Sector Development) Reference and Admlnlstrative Details Trustses l Dlrectors Mr S J Westlake Mrs H M Rendle Ms G R￿helle Resigll￿ 3110812023 Senlor Management Team Mr I J Powell, Chief Executive offic¢r Principal Offlce Swarthmor¢ 78 Mutley Plain Mutley Plymouth PL4 6LF Regtstered Offlee Moorgate House King Street Newton Abbot Devon TQ12 2LG The charity is incorporated in EThglan(L 04324686 Company R¢￿stratIOn Number Charlty ReglstrYdtlDn Nwnb¢r 1090735 Bankers CAF bank Limited West Malling 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ Mr Michael Denoon Young Independent Exattiiner Peplows Limited Moorgate Ho￿e King Street Newton Abbot Devon TQ12 2LG Independent ExaDthi¢r The Learning Curve (Voluntary Sector Development) Trusteesl Report (including Directors Report and Strateglc Report) The trustees, who are directOT8 for the purposes of Company law, present the annual report together with the fjnan¢ial statements of the ¢haritable ¢ompany for the year ended 31 March 2024. The full charity name is The Learning Curve (Voluntary Sector Development) and it is known as The T2m]ittg Objectives and activities Objects tMdal•LY Our Charitable Objects remain as laid out in the Articles of The Lean]ing Curve and are To protnote public education and training and promote th¢ efficiency of the charity. Our mission and priorities are as follows: To p￿VIde accessible learning and guidanre for socially and economically disadvantsged group& Outcome". The out¢On￿ of our work should be that socially and economi¢ally disadvantsged people are more able to lead fi￿filled lives. become nwre resilient and support themselves. We continue to focus on the continued high need and demand for our 5UPPOrt for the most disadvantage￿ whilst dealing with substantial cuts seen in statutory fimding for health and housing which are priority services needed in our local conununiti¢s. It is important that we contimie to Ad¢ntify the best long-tern Option8 for aisuring that the needs of our beneficiaries are being met. The Trustees have had due regard to the public benefit g￿ldance published by the Charity Commission when reviewing the clwity's aims and objectives and planning futur¢ activities. ObJe¢llves. str4twes 4ndadiviti In line with our Charitsble Objects. we have worked to provide our target beneficiary groups with new skills and opportunities to help them support themselves and lead more fulfilled lives. W¢ Continue to d¢liver government fimded programmes and the n￿1n PTogran]mes has been the Prince5 Tn5St Team Progratnme (recently renamed The Kings Trust). Jn parto¢rship with Th¢ Prince's Trust, we have delivered the Team progrdmm4 a 12-week PeTSona] d￿Clop[￿ent course for young people aged 16 -18. building Confidence, Motivatio￿ and self-esteem while improving their communication and problem-solvillg skills. Enabling young people to have the opportunity to plan for their future and reach their full potential. Publle bene The charity provides educational and learning activities to the benefit of the general publi¢. The trustses confirn] that they hav¢ cornplied with the requirements of sectÉon 4 of the ChaTities Act 2011 to have thie regard to the public benefit guidaD¢¢ published by the Charity Commission for England and Wales. Use of wlunleers Due to the nathre of the specialist services provide¢ the company uses employed staff and third parties to provide training and education. The TDJStees are however volunteers. The Learning Curve (Voluntary Sector Development) Trustees, Report (including Directors Report and Strydteglc Report) Aehlevements aDd performanee The Learning Curve delivered the Prince's Tn]st 12-week Team programme which gives practical and fu￿nCIal support through developing key workplace skills such as confidence and motivatioL The Team programme is one of The Princes Tn￿t'S most long-standing and core programmes wbich is available to support 16 to 18-yeaT-olds who are NEET. It is a full-time 12-week pcrsonal development pmgrdmme which includes a residential stay, several community projects and a 2-week work placement. its primary aim is to build ¢ODfid¢nce, motivation and skills to help unemployed young people return to education or move into employment. On completion of the 12-week programme the patlicipants achieve a level I Certificate in Employmen¢ Teatllwok* and Cotnmunity Skiib. Participants are able to ￿hleve part of the qualification Èf they leave due to employment or other training provision part way through the prograrnme. Thmughout this fman¢ial year the Le4ming Curve helped to fund tsaining OPPOTtimities for 24 youllg people. The Lean)ing Curve has extended the room rentsl side of the business and it has 5 regular rental clients ￿ well as a couple of other individual bookings wbich hop¢fi￿Y will grow.into regulat business. This lias ￿$ll1t¢d in the Room rental business In￿easing by 370/0. Flnanclal revieiv The Learning Curve has made a surplus on unrestricted activities of £78,198 ftir the year ended March 24 (compared to a surplus of £51,524 for the year ended March 23). This was our second year in the Swartbmore centre .The running costs for the centre came in very similar to the previous year. The rent was increased as there was no rent free period within this period, however this was offset by the fact that the repairs and maintenance cost w¢re considerably lower than the previous year. Looking ahead at the next financial year- The t£aming Curve is looking to achieve a similar l¢v¢l of income from its Toomrentals. Alongside this room rental income The Learning Curve continued perfom]well againstits Post 16 ESFA Contract which it managed to over deliver in 2023124 which has resulted in a growth of 239/0 in the contract for the period 202312024. As mentioned in last years Finaticial review there was a defetred income wbich had been paid to The LEarning CuThe already from the ESFA tn relation to year ending March 22. As you can see from the Balance Sheet this has been greatly reduced and The Learning Curye is now building its Cash. Poll¢y on Men It is the policy of the charity to raise funds to fllwice its learning Commitments. It IB desired to have an aim of n￿Intaining unrestricted r¢seLves at a level which is ￿lla1 to three months operating ¢08ts. At 31 March 2024 reserves of £176229Jnet and exceeded that aim. Prlnclpalfundzngsources The major source of in¢ome for the chaTity dwing this period was its Room Hire to Clwitable and Training Organisations. The Leorning Curve (Voluntary Sector Development) Trustees, Report (including Directors Report and Strategic Report) Structiireg governanc4 and maDagement Nathre ofgoverning document The organisation is controlled by a set of articles of association wljich were most rrfently updat&1 by a written resolution of the sole member on 23 December 2017. Recruilwlandappointmentoflruslees Tr￿¢S are drawn from directors I senior staff of the parent Organisation Eat That Frog CIC. Jndudlon andlrninlng oflrns¢tts Trustees have access to an induction and mandatory training covering all ststtrtory and contract requirements. Arr4ngementslor seuIAg key mdn4g¢mentpersonnel remunerntion The key management are the Thistees and Mr l J Powell. The Trustees do not r¢¢eive any remuneration from the charity but Mrs H Rendle receives net r¢muneration of £500 from the parent company Eat That Frog C.I.C in relation to her being a Trnstee of TLC and Mr I J Pow¢ll does not receive any remuneration from the charity but is remunernted by the parent C4)mpany, Eat That Frog C.l.C. OryanisAdonolstrnL*ure Eat That Frog C.l.C. is the sole company member. Decisions on the n￿￿l￿g and operating of the charity are made by Tn￿teeS with support from directors / senior staff of the par¢nt organisation Eat That Frog CIC. Rdationships Jvlth related partles Eat That Frog CIC. Eat That Frog C.I.C. is the sole member of the company. Eat That Frog SL Please see note 18 on page 18 ￿l¢b detsils the related paty transactions with this company. Flngnclal Instruments Objectivu andpolicies The board alld mat)agement team have an ongoing process of risk management in line withthe organisation's risk policy. The riskre8iSter is updated by Senior staff quarterly to reflect new risks and changes in risk proffle as well as actions being undertaken to n)itigate each risk. The annual report wa5 approved by the trustees of the charity on I l Decenther 2024 and sigaed on its behalf by: Mr S J Westlaké Trustee The Learnlng Curve (Voluntary Sector Development) Statemellt of Trustees, Responsibilities The tEUStees (who are also the directors of The Learning Curve (Voluntary Sector Development) for the purposes of compally law) are TesponSI￿le for preparlng the trustees, report and the fllMncial statements in accordance with the Untted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prnctkc¢). Company law requires the lrnstees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of tbe ¢baritabl¢ company and of its incoming resources and application of resources, including its income and expenditu￿ for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and apply them eonsistentty. observe the methods and winciples in th¢ Charities SORP 2019 (FRS 102): niake judgements and estimates that are reasonable and pnthL state whetb¢r applicable UK Accounting Standards have becn followel subject to any Materi￿ departures disclosed and explained in the fjnancial statell￿ts. and prepare the financial statements on the going conc¢m basis unless it is inappropriate to presume that the charitable ¢onJpany will Continue in operdtio The ￿SteeS are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any tin￿ the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the a88ets of the charitable company and hence for tsking reasonable steps for the prevention and detection of frnd and other ittegularities. In so far as the trustees are aw8re: there is no relevant audit iDfonnation of which the charitable company's auditor is unaware. and the trustees have taken di steps that they ougbt to have taken to make themselves aware of any relevant audit inforroatiorl and to establish that the auditor is aware of that infornmtion. Approved by the trustees of the Ckwity on I l December 2024 and signed on its behalf by: Mr S J Westlake Trustee The Learning Curve (Voluntary Sector Development) Independent Examlner's Report to the trustees of The Learnlng Curve (Voluntary Sector Development) I report to the cbazity trustees on my examination of the accounts of the ¢omp8ny for the year ended 31 MaTch 2024 which are set (Mt on pages 8 to 20. Responsibllltles and basls of report As the charity's trustees of The Learning Curve (Voluntary Sector Dcvelopment) (and also its diTectOTS for the purposes of company law) you are responsible for the preparation of the a¢¢outhts in accordance with the requiTements of Ihe Companies Act 2006 ('the 2006 Act.). Having satisfiedmyself that the accounts ofThe Learning Curve Woluntary SectorDevelopment) arenotrequired to be audited under Part 16 of the 2006 Act and are eligible for independent examinatioo I report in respect of my examinatton of your companys accounts as carried out uttder section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 ACL Independent exAminer's statement I have completed my exaTnination. I confirnl that no matters have come to my attention ill connection with the examination giving me cause to b¢liev¢: accounting records were not kept in respect of The Learning Curve (Voluntary Sector Development) &8 required by section 386 of the 2006 Ac¢" or 2. the acCO￿ts do not aCC￿[d with those records. or 3. the accounts do not comply with the accounttng requirements of section 396 of the 2006 Act other thall any requirement that th¢ accounts give a 'true and fair view which is not a ll￿tter considered as part of an independent exaEDinatioffj or 4. the a¢¢ow]ts IMve not been prepared in accordance with the methods and principles of the Statement of RecO￿￿ended Practice for accouoting and reporting by Charities [applicable to Ch￿EtieS preparing their accounts in accordance with the Finaocial ReWtI￿ Standard applicable in the UK and Republi¢ of Ireland (FRS 102)]. I have no concerns and have come across no other nmtters in connection WAth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reach Michael Young Independent Examiner FCA Peplows Limited Moorgate House Kin8 Street Newton Abbot Devon TQ122LG I l December 2024 The Learnlng Curve (Voluntary Sector Development) Statement of Financlal Actlvities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statsment of Total Recognised Gains and Losses) Unrestrlcted Unrestrieted funds 2024 funds 2023 Income and Endowments from: Donations Clkaritable activities Jnvestment incon 10.401 223,869 1,394 50273 154,164 541 Totsl income 235.664 204,978 Exp¢ndlture on: Charitsble activities (157,466) (157,466) 78,198 (153,454) Total expenditure (153,454) 51524 Net incom¢ Net movement in fimd8 78,198 51,524 Recon¢illatlon of funds Total fi￿dS brought forward Total fun(ts ¢arried forward 98,031 46,507 15 176,229 98,031 All of the charitys activities d￿[ve from continuing operations during the above two periods. The Learning Curve (Voluntary Sector Development) Olegistratlon number: 04324686) Balance Sheet as at 31 Mareh 2024 2024 2023 Note Fixed asset8 12 Tangible assets 11,509 11.080 Current a55ets Debtors Cash at bank and in hal 13 14 28,798 167,761 40,71X) 208,068 (31,839) 137,234 (39.203) Creditors: Amounts faJJlng due whhln one year 15 Net assets Funds of the charlty: Unre$trl¢tsd Income funds Unrestrithed fijnds l76229 98,031 Total funds 16 For the financiAI year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies A¢t 2006 r¢latÉng to small companies. DireCtwE'res￿7)j]itieS. The members have not requir¢d the charity to obtain an audit of its accounts foT the year in qu¢8tion in accordance with section 476" and The directors acknowledge their responsibilities for comptying with the reqUir￿ents of the Act with Tespect to accounting records and the preparation of a¢￿ullts. These accounts have been prepared in accordance with the provisionB applicable to companies subjeth to the 8mall companies re8inie. The financial stat¢m¢nts on pages 7 to 18 w¢r¢ approv¢d by th¢ trustee8, and auth0ri8ed for issu¢ on I l December 2024 and Sigll￿ on their behalf by: MT S J Westlake Tr￿te¢ The Learning Curve (Voluntary Sector Development) Notes to the Financial Statements for the Year Ended 31 March 2024 I Charlty ststus The cliarity is limited by share capital, incorporated ill EDgland. These fit)an¢ial statements were authori8ed for issue by the trustees on I l December 2024. 2 Accountlng poliele8 Summary of slgnlficant accountlng polleles and key aceounting estimates The principal accounting policie5 applied in the preparation of these fmancial statements ate set out below. These policies have been consistently applied to all the yeats presente