Companyregistrationnumber: 04324686 Charity registration number. 1090735 The Learning Curve (Voluntary Sector Development) (A company ]im2ted by shar¢ capital) Annual Report andFinan¢ial Ststements for the Year Endfya 31 Mard) 2025 Peplows Ltd Moorgate House King Street NewtonAbbot Devon TQ12 2LG The Learning Curve (Voluntary Sector Development) Contents TTU8tees' Report 2to4 ststement of Tnthe8' Respon&bilitie Independent Examinevs Report Slatement of Financial Aclivities Ba]anrK Sheet Notes to the Financial Statements 9t018 The Learnlng Curve Ivoluntrdry Sector DevelopmeDt) Reference and Admlnlstratlve Detsils Trustees l Dkrectors Mr S J Westlake Mrs H M Rendle Senlormanvdgement Team Mr I JPow¢lL Chief Ex¢cutive officer Prlndpal Offlee Swarthmore 78 Mutley Plain Mutley Plymouth PIA 6LF Reglstered Offlee Moorgate House King Street Newton Abbot TQ12 21fJ Company Reglstratlon Number 04324686 Charlty Regl8trath)n Number 1090735 CAF bank Limited West Malling 25 Kings HillAvenue Kings Hill Westmalling MB194JQ Independent EiamlDer Mr Michael Denoon Young Indepffldent Examiner Peplows Limited Moorgate House King Street Newton Abbot Devon TQ12 2LG The Learnlng Curve (Voluntary Sector Development) Trusteesl Report (ineludlng Dlrectors Report and Strateglc Report) The trusteK who are directors for th¢ puwes of company law, present the annual report together with tb¢ financial st￿ten￿ts of the charAtsble company for the y¢8r ended 31 March 2025. The full charity name 1$ The ILamin8 CuNe (Voluntary Sector D¢velopment) and it is known as The Learning ObjeLrtlves And activitles Objects andalms Our Charitsble Objects ren￿1n as laid out in the Arti¢le8 of The Learning Curve and are To promote public education and training and promot¢ Ihe efficiency of the charity,. Our mission and priorities are as follows: To provide accessible learning and guidauce for socially 8nd economi￿lY disadvantsged w. The outcome of our work should be that socially and economically dlsadvalltsg￿ p¢ople are more able to lead fidffll¢d liv￿, b￿￿m¢ more resilient and sUPPOrt thern8¢l￿. We continue to focus on the eontinu¢d high need and demand for our 8UPPOrt for the most di8advantsge(L whilst dealing with substantiftl Cuts Seen in statutory funding for health and housing whi¢h are priority services needed in ow local communities. It is irnportaDt that we continue to idetttify the best iong-term options for ensur1￿ that the nee(t4 of our ben¢fi¢iaries are being m¢L The TTh￿te¢s have had thle regard to the public benefit guidance published by the Charity Conimission when reviewing th¢ charity's aim8 and objectives And planning fllts￿e activities. Objecdves, slr4tegles andaclhrftia In linc with our Charitable Objects, we have Worked to provide our tsrget beneficiary groups with new skilts and opportunitiGs to help them support themselves and lead more fulfill￿ liv￿. We continue to deliver govenknnent fund¢d programmes and the nMin programll￿ has been the Kin8'8 Trust Team Programme (previously The Princ¢'8 Trnst). In partnership with The King's TnJsL we have delivered the Team programme. a 12-week personal development course for young people aged 16 -18, building wnfidenc nwtivation, and s¢lf-esteem while in]proving their ¢omnwni¢ation and problem-soLving skills. Enabling young people to have the opportunity to plan for their futur¢ and reach th¢ir fidl potential. Public benefi¢ The charAty provides educational and learning activlties to the benefit of the general public. The trustees confirm that they have complied with the requirements of 8¢Ction 4 of the Charities Act 2011 to have due regatd to the public benefit 8uidance published by the Charity Conmllssion for England and Wales. Use of volmnteers Due to the nature of the specialist 8erYices provide￿ th¢ ¢ompany uses employed staff and third parties to provide training and educatioL The Tn￿le¢S are however volunteers. The Learning Curve (Voluntary Sector Development) Trnsteesl Report (includlng Dlreetors Report and StrAtegfic Report) AehleveJn¢Bts and perfornwice The Learning Curve delivered the King's TTh￿ 12.week Team pro￿4 providing both practic814nd finan¢iai support to young people through the developn*nt of key workplace and life skills. such as confidenc4 resilience and motivation. The Team programll￿ is one of The King's TTUBt's most long-standing and corc initiatives, spectfically dcsigned to support 16 to 18-year-olds who are not in ethication, employment or training (NEET). This full-tim< 12-w¢ek person81 develOpn￿nt programme offcrs a comprehensive apprvach, including a residential stay, participation in several community projects and a 2-week work placem¢nt. By combining Strllct￿ leanling, hands-on experience and m￿ltOrshIp, the programme empowers young people to overcome personal bauiers, gain transferable skills and improve their employment pro￿￿ts. Financial 8UPPOrt is provided to ensure that pgrticipants can fully engage with the programme, covering c08ts related to lrnvel to remove e￿noMiC barriers that might otherwise prevent participation. The social impact of the programme is significanL It not only helps participants re-enter edu¢ation or secure employment but also fosters a seDS¢ of responsibility, teamwork and community engagemenL Participants ¢ontribut¢ to lo￿1 proj¢¢ts. strengthening community ties and demonstrating tangI￿le positive outcomes to society. On completion of the programme, participants achieve a Level I Certifiute in Employm¢nL T¢amwork and Community Sknlls* quipping them with nationalty T¢￿gniSed qualifications that ¢nhan¢¢ ¢mployability. Those who leave th¢ programm¢ early. for example, due to securing employnw]L can 8ti11 achieve part of the qualificatio ensuring their progress and development are fomully re￿gnised. Overall, the King's Trnst Team programme provides a vital combination of personal development. practical skill- building, financial SUp￿rt and social engagement, producing lasting benefits for both participants and the wider community. Throughout this financial y¢ar the L¢arnin8 Curve help￿ to fund training opportunities for 33 young people. Flnanclal revknv The Learnin8 Curve has made a sutplus on Unrestr￿ activities of £84,991 for the year ended Ma￿h 25 (compared to a surplus of £78,198 for the yMr ended March 24). The Learnin8 CuThe continues to rent out rooms and has still got regular ¢li¢nty however be￿USe of growth in its ESFA Post 16 ￿llt￿L due to the over delivery in 202312024. the fo¢us has moved from Room Rentals towards tb¢ Provision of Ixarning Op￿rtUnItieS and individual 8￿p0¢ whi¢h has grown by 133% from £72243.40 to £168,196.36. As you can see from the Pmfit and Loss sheet although th¢ total turnover in th¢ year ending March 2025 was sligbtly higher than that of March 24. the operating profit was sligbtly lower than 2024. This 1$ because of the additional staffing which is involved in both the delivery and th¢ admiIustration of The Learning Curve's provision of education and leamin8 opportunitie8. Polley on reSer￿S It is the policy of the clwity to rai8¢ funds to finance its learning ￿n)Mitments. It is desired to have an airn of tnaititaining unrestricted reserves at a level which 18 equal to thtee months operating costs. At 31 March 2025 reserves of £261220. met and ¢x¢¢¢d¢d that aim. Princ¥￿lI￿NdIngx0uYces The major source of income for the charity during this period was the provision of education and learning opportw)ities. The Learning Curve (Voluntsry Sector Development) Trustses, Report (includlng Directors Report and Strategic Report) Struclvr¢g governanc4 and management . Nafyre ofgovernkng document The organisation is ¢ontrolled by a 8et of articles of a860ciation which wwe most recently updated by a written resolution of the sol¢ member on 23 December 2017. Reernlthentandoppolnthientoflrukees Trustees are drawn from dir￿￿ty/sentor Stsff of th¢ prnt Orgtitiisation Eat That Frog CIC. Indudlon andtralnlng oftrwts Tn￿teeS have a¢c¢ss to all it￿ll and mandthry tsaining covering all stalutory and contract requi￿￿. Arrangfflientsfor selhngkey m4nag¢men¢personhelremU￿ The key management are the Tru8tee8 and Mr l J Powell. The TrustK8 do notTe¢eive any reniuneration from the charity but Mr3 H Rendl¢ r￿elveS net remuneration of £500 from the par¢llt company Eat That Frog C.l.C in relation to her being a Trustee of TLC and Mr l J Powell do￿ not receive any remuneration from the charity but is remunerated by the parent Lxjmpany. Eat That Frog CJ.C. Oryanls4lloHalslr¥dure Eat That FTog C.I.C. is the sole COD]pany ma)ther. Decisions on the nmning and operating of thc charity are made by Trustees with support from direcknrn / senior staff of the parent organisation Eat That Frog CIC. Relatlonshlps wltb relAted partle8 Eat That Frog CLC. Bat That Frog C.I.C. is the sole member of the company. Eat Tblt Frng SL Plcase s¢¢ note 18 on page 18 which detsils the re]a*dpaty tran8a¢tion6 undertaken with thi8 company. Flnandallnltrnments Objertlvu 4ndpoll¢les The board and manwent team hav¢ an ongoing proC￿S of risk nmnagement in line with the Organisation's risk policy. The risk register is updat¢d by senior staff quarterly to Teflectn¢w risks and changes in iisk proffle a8 well as ￿tiOnS being uudertak¢ll to mitigate each risk The annual report was approved by the trustees of the thity on 18 December 2024and signed on its behalf by: Mr S J Wegtlake The Learnlng Curve (Voluntary Sector Development) ststement of Trustees, Responsibllltles The trustees (who are also the dire¢tOTS of The Learnin8 cU￿e (Vohmtsry S¢ctor Development) for the purposes of company law) are responsible for prewing the trustees, report and the financial statements in a¢¢ordance with the Uniknl Kingdom A￿oUnting Standards (Unit¢d Kingdom Generally Acceptcd Accounting Praclice). Company law rquire8 th¢ trustees to prepar¢ finattciai statements for each fmancial year. Under company law the trustees must not approve the financial 8tatem¢nts unlw they are satisfi¢d that they give a tru¢ and fair view of the state of affairs of the charitable company and of its in¢oming resources and application of resou￿, including Ats income and expenditure, for that petio(L In preparing the8¢ fllwicial statements the trustees are required to: gelect suitsbl¢ accounting policies and appty them consistentty. observe the methods andprinciples in the Chariti¢s SOIiP 2019 (FRS 102). make judg¢m¢nts and estimates that ar¢ te88onabl¢ andprndent State whether applicable UK Accounting St4ndarth Imve been followeiL subject to any llmterl￿ dwtwes disclosed and explained in the fAnan¢ial stst¢ments: and prepare the financial Statell￿ts oll the going eoncem basis unless it is inapproprtate to presume that the djaritable company will continue iti operatio The trustees are responsible for keeping adequats accounting records that disclose with reasonable accurw at any time the financial position of the charitable wmpany and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also resp)nsible for safeguarding the assets of the charitable ompany dnd hence for taking reasonable • for thc prevention and detection of fraud and other irregularities. In so for a8 the tTh￿¢eS are aware: there is no relevant audit infomMtion ofwhich the charitable Company's auditor is Unaw￿ and the trustees have taken all steps that they ought to have taken to make themselve8 aware of ￿Y relevant audit infonnation and to establish that the auditor is aware of that information. Approved by the ttustees of the ¢h2rity on 18 December 2024and sign¢d on its beha￿by. S J Westlake The Learnlng Curve (Voluntary Sector Development) Independent Examinerls Report to the trustees of The Learnlng Curve (Voluntary Sector Development) I report to the charity tru8t¢¢s on my exaMi￿On of the awoullts of tbe mpany for the year ended 31 Marth 2025 whith ar¢ set out on page8 8 to 18. Responslbllltles aDd bgsls of report As the charity's trustees of The Learning Curve ￿01llntary Sector D￿elOpment) (and also its directors for the purposes of ¢OD]pany law) you are responsible for the preparation of the accounts in accordance with the requI￿alts of the Companies Act 2006 ('the 2006 Act'}. Having satisfied myself thatthe accounts ofThe IKBrningCurve (volunt￿ S￿t0rD¢ve10prneAt) are not required to be auditedunder Part 16 ofthe 2006 Act and eligible for independent examination, I report ID respect of my examination of your company's accounts as canied out under section 145 of the Cliarities Act 2011 ('the 2011 A¢t'). In carrying out my examination I have followed the Directions given by the Clwity Con)mwion under section 145(5)(b) of the 2011 A¢t. Indep¢Dd¢nt examlner'$ ststement I have completed my examin4tion. I confirm that no n]atters have ￿¢ to my attention in cOn￿tiOn with the examination giving m¢ cau8¢ to believe: l. accounting records were not kept in respect of The Learning Currfe (Voluntary s￿tOr Development) as Tequired by section 386 of the 2(K16 Act. or 2. the a￿OUnts do not accordwith those records. or 3. the accounts do not comply with the accounting r¢quiremrnts of Section 396 of the 2006 Act other t1￿1 any reqUiren￿nt tbat the accounts giv¢ a 'tsv¢ and fair view, which is not a matter consider¢d as port of an independent examination: or 4. the accounts have not been prepared in ￿O￿lanCe with the methods and principles of the Slatement of Recommended Pracllce for accounting and reporting by charities [applicable to Charitiw preparing their accounts in accordance with the Finallci￿ Repoiting Stsndard appjicable inthe UK and R¢public of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this re￿rt in order to cnable a properund¢rstanding of the accounts to be r¢ache(L Michael Young Independent Examiner FCA Peplows Limited Moorgate House King Street Newton Abbot TQ12 2LG 18 Decethber 2024 The Legrnlng Curve (Voluntary Sector Development) Statement of Flnan¢ial Adlvltles for the Year Ended 31 March 2025 (Ineludlng Income and Expendlture Account and Statement of Total Recognised Gains and Losses) Unrestrleted Unrestrlcted nd$ 2025 funds 2024 Nots Ineome and Endowments from: Donations Charitable aclivities Investment in￿ll 259 268288 1,323 10.401 223,869 1,394 Total incon 269,870 235,664 Exp¢ndltllre on: Charitabl¢ activities (184,879) (157,466) Total expenditure (184,879) (157,466) Net income 84,991 78.198 Net movement in funds 84,991 78,198 Re¢onclllatlon of funds Total funds brought forward Totsl funds cattied forward 176229 98,031 16 261,220 176,229 All of the charitys activities derive from continuing operntions during the above two periods. The Leydrnlng Curve (Voluntary Sector Development) (Registratlon number: 04324686) Balance Sheet as at 31 March 2025 2025 2024 Fixed Assets 12 Tangibl¢ assets 11.023 11.509 Current assets 13 14 43,228 262,617 28,798 167 761 Cash at bAnk and in IM 305,845 196.559 Credltors: Amounts faulng due Ivlthln one year 15 (55,648) (31,839) Net a$￿ts Fllndj of the ¢harlty: Unrestrlcted Ill￿￿¢ fun Unr¢stricted fimds 261,220 176,229 Totsl fundi 16 For the fllwicial year ending 31 March 2025 the charity was entided to exemption from audit under section 477 of the Con)panies Act 2006 relating to small con)pani￿. Dir￿tors, TeqJ(wil)ilities: The memb¢rs have not required the c]wity to obtain an audit of its accounts for the year in question in accordance with 8ection 476" and The directors acknowl¢dge their responsibilities for complytng with the rcquirrnts of the Act with respect to accounting records and the preparation of accounts. These accounts have be¢n prepared in accordance with th¢ provisions applicable to ¢omp8ni¢s subject to the The financial statements on pages 7 to 18 were approv￿ by the trustees, and authorised for issue on 18 Decemb¢r 2024and ssgned on their behalf by: Mr S J Westlake The Learnlng Curve (Voluntsry Sector Development) Notes to the Flnanelal Statements for the Year Ended 31 March 2025 I Charlty status The Qharity is limited by slwe capitaL incory)orated in Englan(L These financial statements wer¢ authorised for i8su¢ bythe t￿￿tee3 on 18 December 2024. 2 Aeeountlng polldey SnmmAry of slgnlfic•Dt accounllng polleles and key attOllDtlng estlmatss The principal accountlng policies applied in the preparation of these fman¢ia] statements ar¢ set out below. These polici¢s have been consistently applied to all the years presente(L unless othenvise statr Statement of eompllaDce The financial statements have IKen pryared in acconJan¢e with Accounting and Reporting by Charities: Statement of Recon)mend¢d Practice applicable to Chgrities preparmg their accounts in awordance with the Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland (FRS 102) (is8ued in O¢tobcr 2019) - (Charities SORP (FRS 102)), th¢ Financial Re￿ting Standard applicable in the UK at)d Republic of ]reland IFRS 102) aud the Companies Act 2006. Basls of preparvdtlon The Leaming Curve (Voluntsry Sector Development) meets the defitiition of a public benefit entity under FRS 102. A8sets ond ]iabilitie8 initially recognised at historical cost ortransaction valuc unl&88 otherwise stated in the rolevant acuunting policy notss. The accounts are prepared in Ster]ing and rounded to the nearest £. Golng eoneern The trustees consider that th¢re are no material un¢ertaiDti¢s about the charitys ability to ¢ontinue as a going ton¢ern nor any significant areas of un¢¢rtainty that affect the cazryiDg value of assets held by tbe ¢k￿lty. Exemptlon frnm pr¢parlng a ea8h Ilow statement The cl)arity is not Tequired to prepare a cash flow Statement as the ttmiover is below £500,000 and it has not therefore j￿Illd￿ a cash flow Statement in these financial ststem¢nts. Income and endowments All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. The Learning Curve (Voluntary Sector Development) Notes to the Finan¢lal Statements for the Year Ended 31 March 2025 Don4tloKA andlegacies Donation5 are re￿gnised when tbe charity h&8 been notified in wilting of both the atnount and Settlement date. tD the ¢vent that a donation is subj¢rt to conditioJs that require a l¢vel of perforn)ance by the charity b¢for¢ the harity is entitl¢d to the funds th¢ income is defe￿ed and not re¢o8nised until either those conditions are fully met, or the fulfilment of those W￿ltionS is wholly within the control of th¢ charity and it 18 probabl¢ that these conditions will be ￿lfilled in the reporting perio The treatnTht of w incon￿ depends on the tern￿ of the fundi￿ Where th¢ grant 18 not Conditional upon specific tsrgets being m¢L then it is treated a8 income as it becomes rweivable. Where grant incom¢ r¢¢eived is conditional upon the r￿pletion of certain targets being met and is returnknle to the grant giver if the targets are not meL the incom¢ is ¢redited to th¢ income and expenditUTe account as the course targets are achi¢v¢(L Any grants r￿civ￿ where the targets have not yet been achievrf are held as d¢ferred income. Fees fromcourses and otherservices are ￿editedt0 income inthep¢riod inwhichthe course orservice isprovid&L with any b￿all¢¢ of monies received or due, held as deferyed or a¢¢n￿d income respectively. Defern¢dlncoMe Deferred in¢ome represents amounts received forfuture periods andisreleas¢dto incoming rwurc¢s inthe period for wbicfy it has been rKeive& Such in¢ome is only deferred when: - The donor specifies that the ￿t or dot)ation must only b¢ used in ￿t￿re accounting periods. or - The donor has imposed conditions which must be met befor¢ the charity has unconditional entillemenL ftaid Incoming resources fivmtsx reclaims are included in the Statement of Financial Activities at the same time as the gift to which they Telats. Inveslmentincow Interest receivable is accounted for on a time apportAonment basis. Expendlture All exp¢nditure is recogtiised once thcre 18 & legal or (X)DSth￿tive obligation to that expenditure. it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the appli¢able expendltL￿e heading that aggregate similar costs to that Category. Wher¢ c08ts cannot b¢ directly attributed to particularheadiogs th￿have been allocated on a basis consistent with the use ofresources, with central staff costs allocated QD the basis of tim¢ spenl and depreciation charges allocated on th¢ portion of th¢ asset's use. Other support costs are all￿ated based on the spread of staff costs. Charilableadi CbaTitable expenditure Compris￿ Ihose costs incurred by the charity in the delivery of its ￿tiVitieS and services for its beneficiarAes. It iticludc8 both costs that can be allocated directly to such activitie8 and those costs of an indirect nature nccessary to support them. Support eosts Support costs include Lyntral functiODS and have been allocated to ￿tiVity ¢08t ¢ategories on a basis consistent with the use of resouw¢& for exan4)le. allocftting propety costs by floor are4 or per capit4 stsff ¢osts by the time spent and other costs by th¢ir usage. 10 The Learnlng Curve (Voluntary Seetor Development) Notes to the Flnancial Statsmen for the Year Ended 31 March 2025 Governance eosts These include the costs attributsbl¢ to the chtirity'8 conwjiance with constitutional and statutory requirements. including the Inaependent Examinevs f¢es. strdtsgic management and truste¢s's meetitigs and reimbursed TaxgtloD The charity is considered to the tests 8et out in Parngraph I Schedule 6 of the Fillance Act 2010 and th￿¢f￿ it D￿ts the defjnition of a charitable company fi)r UK corporation tsx pwposes. Accordingly, the charity is potentially exempt from taxation in respect of income or Capital gains rec¢ived within categories covered by Chapter 3 Part I l of the CoEporntion Tax Act 2010 or Section 256 of th¢ Taxation of Chargeable Gains Act 1992, to th¢ ¢xtent thot such incom¢ or gaitis are applieAI exclusively to clwitable purposes. Trade debto Trade debtors are amounts due from ¢u8tomer8 for 8¢rvi¢es perfornied in th¢ OTthnary course of busitw. Trade debtors are recognised initially at the transaction piicc. A provision for the impairnt of trad¢ debtors is cstablishcd when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equfvalents Cash and cash equivalents comprise ¢asb on hand and call deposits, and other 8hort-tern) highly liquid investn)ents that are readily convertible to a known amount of casb and are subject to an insignificant risk of ¢b2nge in value. TrAde credltors Trade creditors are obligations to pay for gLN)ds or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 8re classified as current liabilities if the Charity does not have an un¢onditional righL at the end of the reporting paio(L to defer Settlement of the creditor for at least tw¢lv¢ months after the rew)rting dats. Trnd¢ CTeditors are rwised initially at the tranwtion Price. Fund 8tructsre Unrestrictsd incorne fimds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Restrictsd funds are fund8 whith are to be used in accordance with specific restrictions imposed by donors or wbich have been raised by the ¢hatity for partiC￿ar purpO￿S. The cost of raising and athninistering suGh fimds are charged against th¢ specific fun