||Page| |---|---| |Reference andAdministrativeDetails|1| |Report of the Trustees|2lo4| |Report of the lndependentAuditors|5to6| |Statement of FinancialActivities|7| |StatementofFinancial Position|I| |Statement of Cash Flows|I| |Notestothe Statement of Cash Flows|10| |Notesto the Financial Statements|'11lo17| |Detailed Statemeni of FinancialActivities|18| ||
Learninq Ltd| |---|---| ||Reference andAdministrativeDetails| ||forthe YearEnded 31stJulv2023| |REGISTERED OFFICE|TheOrchard| ||Market Street| ||Launceston| ||Cornwall| ||PL15 8AU| |REGISTERED COMPANY NUMBER|04327526 (England and Wales)| |REGISTERED CHARITY NUMBER|1091073| |TRUSTEESiDIRECTORS|MsVBishop| ||MsS Phillips (resigned 22.04.23)| ||MrLPrice (resigned16.11.22)| ||MrCWadsworth| ||MrNIWilliams (resigned 12.09.23)| ||MrIMerchant (appoinled 29.12.22, resigned 11.08.23)| ||MrEForeman (appoinled28.O2.23)| |EXECUTIVE OFFICERS|MrS Howard (Chief Executive Officerretiredfrompost31.08.22)| ||MsKChannon (Exec. Director of Business Services from 01.09.22)| ||MsJKeliy(Exec. DirectorofQuality and Curriculum01.08.22-| ||31t0312023\| |ACCOUNTANTS|ATC Advisors| ||Chartered Accountants| ||Unit2 Dunheved Couri| ||Pennygillam Way| ||Launceston| ||Cornwall| ||PL15 7ED| |AUOITORS|Blackwell BateLtd| ||Charlered Accountants&Statutory Auditors| ||Brunel Coud| ||122ForeStreet| ||Saltash| ||Cornwall| ||PL12 6JW| |BANKERS|Lloyds Bankplc| ||Fore Streel| ||Saltash| ||Cornwall| ||PL1264A| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||2023|2022| |---|---|---|---|---|---| ||Notes|ljnrestricted
fund

I|Restricted
fund
E|Total
funds
e|Iotal
funds
r| |INCOME AND ENDOWMENTS FROM
Incoming resources|2|727,462|608,498|1,335,960|1,547,817| |lnvestment income|3|769||769|18| |Total||728,231|608,498|1,336,729|1,547,835| |EXPENDITUREON|||||| |Charitableactivities|||||| |Charitable Activities||676,197|708,469|1,384,666|1,473.082| |NET INCOMEi(EXPENDITURE)
Transfers betweenfunds|14|52,034
(52,390)|(99,971)
52,390|(47,e37||74,753| |Nelmovementinfunds||(356)|(47,581)|(47,9371|74,753| |RECONCILIATION OF FUNDS|||||| |Totalfunds broughtfoMard||467,386|47,581|514,967|440,214| |TOTALFUNDS CARRIED FORWARD||467,030||467,030|5'14.967| ## ## ## ||31stJ|ulv2023|||| |---|---|---|---|---|---| |||||2023|2022| |||Unrestricted|Resfict€d|Total|Total| ||Noles|tund

e|tund
e|funds
f|fundst| |FTXEDASSETS|||||| |Tangible assets|t0|10,357||10,357|r6,886| |CURRENT ASSETS|||||| |Debtors|11|35,/85||35,185|13A,722| |Cashatbank||t[73,593||473,s93|454,746| |||509,028||50s,028|597,468| |CREOITORS|||||| |Arnounbfallingduewithin oneysar||{s2,35!r}||(s2,355)|(99,387)| |NET CURRENT ASSETS||456,673||it56,673|498,081| |TOTAL ASSETS LESS CURRENTLIABIL]TIES||467,030||467,030|514,967| |NETASSETS||467,030||467,030|514,967| |FUNDS|||||| |Unrestricted funds||||,[67,030|467,386| |Restricted funds|||||47,581| |TOTAFUNDS||||467,030|514,967| ## ## |||2023|| |---|---|---|---| ||Notes|f|E| |Cashflowsfromoperating activities
Cash generated fromoperations|1|14,078|19,229| |Opening cash and cash equivalents|||456,443| |Netcash providedbyoperating activities||14,078|475,672| |Cashflows from investing activities
Purchaseoftangibleflxedassets
lnterestreceived||769|(16,944)
18| |Netcashprovidedbyi(used in) investing activities|||(16,926)| |Change in cash and cashequivalentsin|||| |thereportingperiod||14,847|458,746| |Cashand cash equivalentsatthe|||| |beginning of thereportingperiod||4s8,746|| |Cashand cash equivalents ai the endof|||| |thereportingperiod||473,593|458,746| ## ## ## |RECONCILIATION OF NET(EXPENDITURE)/INCOMETO NET CASHFL
ACTIVITIES|OW FROM OPERATING|| |---|---|---| ||2023
I|t| |Net(expenditure)/incomeforthereportingperiod(as perthe||| |Statement of FinancialActivities)|(47,937)|74,753| |Adjustmentsfor:||| |Depreciation charges|6,529|z,oza| |lnterestreceived|(76e)|(18)| |Decrease/(increase)indebtors|'103,287|(82,1s2)| |(Decrease/increaseincreditors|(47,032)|24,021| |Netcashprovidedbyoperations|14,078|19,229| ## |ANALYSISOF CHANGESINNETFUN|OS||| |---|---|---|---| ||At1.8.22
€|Cashflow
e€|At31.7.23| |Netcash
Cashatbank|458,746|14,847|473,593| ||454,746|'t4,847|473,593| |Total|454,746|14,447|473,593| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |INCOMING RESOURCES||| |---|---|---| ||2023|2022| |ESFA Funding
l\ranagement fee
Othe. projects|1,141,056
72,329
122,575|1,320,044
67,094

160,679| ||'1,335,960|1,547,817| ## |INVESTMENT INCOME||| |---|---|---| ||2023
EE|2022| |Deposit account interest|769|'18| ## |Direct
Costs
etf
1,083,0S1|SuPPort
costs(see
note5)
301,575|Totals
r,384,666| |---|---|---| ## ## ## |SUPPORT COSTS|||| |---|---|---|---| |Charitable Activities|Support
costs
I
257,631|Governance
costs
€[
43,9/t4|Totals
301,575| |NET INCOME(EXPENDITURE)|||| |Netincomei(expenditure)isstated after charging/(crediting):|||| |||2023|2022| |||c|€| |Depreciation-owned assets||6,529|2.625| |Other operating leases||18,159|35,76s| |Auditors remuneration||4,500|6,000| |Non-audit services providedbyauditors|||377| ## ## |STAFF COSTS||| |---|---|---| |Wages and salaries
Social security costs
Otherpensioncosts
|2023
ft
242,778
16,470
7,978|2022
221,547
15,013
9,257| ||,6r,116|,4t!1,| |The average monthly number of employees during|lhe year wasasfollows:|| |---|---|---| ||2023|2022| |Development|1|1| |Projects|4|5| |Administration|5|3| ||10|q| ## ## |L|COMPARATIVES FOR THE STATEMENT OF FINANCIAL|ACTIVITIES||| |---|---|---|---|---| |||unrestricted|Restricted|Total| |||fund|tund|funds| |||€||e| ||INCOMEANDENDOWMENTS FROM|||| ||lncoming resources|774,508|773,309|1,547,817| ||lnvestment income|18||18| ||Total|774.526|773.309|1,547,435| ||EXPENDITUREON|||| ||Charitableactivities|||| ||CharitiableActivities|690.277|782,805|1,473,O82| ||NET INCOME/(EXPENDITURE)|84,249|(9,496)|74,753| ||Transfers betweenfunds|ls7,077 )|57,O77|| ||Netmovemenl infunds|27,172|47,541|74,753| ||RECONCILIATION OF FUNDS|||| ||TotalIunds brought forward|440,214||440,214| ||TOTALFUNDS CARRIED FORWARD|467,386|47,581|514.967| |10.|TANGIBLEFIXEDASSETS|||| |||Fixtures||| |||and|Computer|| |||fitlings
e|equipment
t|Totals
€| ||cosT|||| ||At1stAugust 2022 and31stJuly 2023|53,492|13,998|67,490| ||DEPRECIATION|||| ||At1stAugust 2022|47,'t68|3,436|50,604| ||Charge foryear|2,233|4,296|6,529| ||At31stJuly 2023|49,401|7,732|57,133| ||NET BOOKVALUE|||| ||At31stJuly 2023|_1{fi|6,266|10,357| ||At31stJuly 2022|6,324|10,562|16,886| |II.|OEBTORS:AMOUNTS FALLINGDUEWITHINONEYEAR|||| ||||2023|2022| ||||€|t| ||Trade debtors||35,435|138,722| ## ## |CREDITORS: AMOUNTSFALLINGDUEWTHINO|NEYEAR|| |---|---|---| ||2023|2022| ||€|€| |Other creditors|44,435|91,587| |Accrued expenses|7,920|7,800| ||52,355|99,387| ## |Minimum leasepaymentsunder non-cance|llableoperating leases|falldueasfollow|s:|| |---|---|---|---|---| ||||2023|2022| ||||E|r| |Within oneyear|||10,273|6,808| |Between one and flveyears|||3,325|3,325| |lnmore thanfiveyears||||1,'t08| ||||rft|11,241| |MOVEMENTINFUNDS||||| |||Net|Transfers|| |||movement|betlveen|At| ||4t1.8.22
e|infunds
e|funds
E|31.7.23
t| |LJnrestric{edfunds||||| |Generalfund|467,386|52,034|(52,390)|467,030| |Restrictedfunds||||| |Restricted Fund|47,581|(99,971)|52,390|| |TOTALFUNDS|514,967|(47,937|||467,030| |Net movementinfunds, includedinthe above areaslollows:||||| |||lncoming|Resources|l\4ovement| |||resources
t|expended
t|infunds
€| |Unrestrictedfunds||||| |General fund||728,231|(676,197)|s2,034| |Restrictedfunds||||| |Restricted Fund||608,498|(708,469)|(ee,e7r)| |TOTALFUNDS||1,336,729|(1,384,666)(47,5371|| ## ## |Comparativesformovementinfu|nds|||| |---|---|---|---|---| |||Net|Transfers|| |||movement|between|At| ||At1.8.21
E|infunds
l|tunds
€|3'1.7.22
q| |Unrestrictedfunds||||| |General fund|440,214|a4,249|(57,O77)|467,386| |Restrictedfunds||||| |Restricted Fund||(9,496)|57,077|47,581| |TOTALFUNDS|440,214|74,753||514,967| |Comparative net movementinfunds, include|din theaboveare asfollows:||| |---|---|---|---| ||lncoming|Resources|l\4ovement| ||resources|expended|infunds| ||€|E|€| |Unrestrictedfunds|||| |Generalfund|774,526|1690,277 )|u,249| |Restrictedfunds|||| |Restricted Fund|773,309|(782,805)|(9,496)| |TOTALFUNDS|1,s47,835|(1,473,082)|74.753| |A cunent year12months andprior y|ear'12monthsmmbinedpos|itionisasfollows:||| |---|---|---|---|---| |||Net|Transfers|| |||movement|between|At| ||At1.8,21
f|infunds
e|iunds
e|31.7.23
t| |Unrestrictedtunds||||| |Generalfund|440,214|136,283|(109,467)|467,030| |Restrictsdfunds||||| |RestrictedFund||(109,467)|'109,467|| |TOTALFUNDS|440,214|_r6f16||467.030| |andprioryear12
Acurrentyear'12months
asfollows:|months combined
netmovement
in|funds,included
i|ntheabove| |---|---|---|---| ||lncoming|Resources|Movement| ||resources
e|expended
e|infunds
t| |Unrestrictedfunds|||| |General fund|1,502,757|(1,366,474)|136,283| |Restrictedtunds|||| |Restricted Fund|1,381,807|(1,491,274],|(109,467)| |TOTALFUNDS|2,484,564|(2,857,748126,816|| ## ## ## ## ## ## ## ||2023I|2022| |---|---|---| |INCOMEANDENDOWMENTS||| |lncomingresources||| |ESFAFunding|1,141,056|1,320,044| |Managementiee|72,329|67,094| |Other prolects|122,575|160,679| ||'1,335,960|1,547,817| |lnvestment income||| |Deposit account interest|769|18| |Totalincomingresources|1,336,729|1,547,835| |EXPENOITURE||| |Charitableactivities||| |Wages|'123,885|142,137| |Social security|8,526|8,801| |Pensions|4,002|5,698| |Staffmileage&expenses|7,946|'17,5'10| |Subcontractor&project payments|938,732|1,078,853| ||1,083,091|1,252,999| |Supportcosts||| |Support costs||| |Wages
Social security|'118,893
7,94|79,410
6,212| |Pensions|3,976|3,559| |Rent|18,159|35,765| |Equipmenthire|1,505|4,253| |lnsurance|3,'128|2,362| |Lightand heat|47|2,578| |Telephone|11,635|9,327| |Postageand stationery|7,071|4,259| |Sundries|1,366|968| |Subscriptions|2,915|1,251| |Training|8,697|1,324| |Depreciation|6,529|2,624| |Advertising|28,829|19,009| |Registration fees|9,613|6,719| |Computer costs|21,302|19,032| |Repairs and renewals|6,O22|5,882| ||257,631|204,534| |Governancecosts||| |Accountancy|2,580|1,800| |Professional fees|36,864|7,749| |Auditors remuneration|4,500|6,000| ||43,9.14|'15,549| |Total resources expended|r,384,666|1,473,082| |Net(expenditure)/income|(47,937)|
74,753|