Charfty rgglstratlon number 1097333 Company reglstration number 04383779 IEngl8nd and Wal95) HUMBER LEARNING CONSORTIUM ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
HUMBER LEARNING CONSORTIUM LEGALAND ADMINISTRATIVE INFORMATION Twstg0S Mr P Nicholson MrAJLThS Mr M Jennwigs Mr C A Damell Mr G Betts Mf8 L Benton 8écretsry rA D Crosslarbj Charlty numbor 1097333 Company number 04383779 R•g&tsrod offlcfj 6&71 Anlaby Road Hull England Easlyorkshire HU3 2LL Audltor Rad(hamsALwJntants Limited 3 Mellon Enterprise Pth Reddiff Road Melton E85tYorkshire England HU14 3R$
HUMBER LEARNING CONSORTIUM CONTENTS Page halrman's ststement Trustees. rewrt Statement of trustse5' respongbilities Indepdent auditc¢s rewt 8-10 statement of financial 8dwitses 11 Balance sheet 12 Notes lo the finanal statements 14-23
HUMBER LEARNING CONSORTIUM CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 As I reported last year, 202&24 is the second of three 'crux' years for HLC. The end of European (ESF} funding in 2023, meant the closu of HLC'S final 3 Eu-funded projects - Community Led.L(al Developm8nl {Jun823), Building Better Opportunities lJune23), and Swingboard IDec231. This inevitabty resulted in several employees seeking pastures new. and I would like lo thank them for their rltli( to these successful projects, and lo HLC In general. Considerable senior management time and efvt was fowsed on bl(kbng and tSInesS dev81opment to mitigate the loss of ESF fundirrfj. At the outset of 202&24, SMT and Trustees were basiTrJ financial forecasts on signiflcant deficit scenari05. However. hard w(t on Sever lar lyds ultimatdy paid off. and l am pleased to report that HLC has made è surplus of £23.193 in 2023-24. isIng reserves to £852,754. DeskNle this succe$8. next year (2024-25) remains chIen91ThJ, e5peually as the fiJture of the UK Shared Prosperity Fund remalns uncertain at the timo olwrrbro thB rewL We werè pleased that HLC was one of onty 55 learning woviders nationally to be awarded an Adult Education Budget contract by the ESFA n the 2023 prTrrement round. TINS means that HLC has re-enlered the mainstream adult leaming market followng the goyernmert decisi in 2019 to focus fiJnding on bbck grant delererS Ilocgl authorltias and clleg&S). 11 also means HLC is wdl-F4ac8d any relaTrI fvnding opportuniti&s arising from local skills devolution and the Hull & East Y¢ykshire Maytsral Combined Aulhorty in 2026. In December 2022 the govemm&nt anmunced the scrappmng of 1&18 trainéeships. a kèy feaiure of HLC'S mainstream provigon and an IMplant steppiro stone f yjung Pege into employTnenl and apprenliceshlps. Thanks to effective lobbying by Hull Cty Counal in early-2023. HLC was awarded a small 16-18 Stu(ty Programme contract by tXE lo éeliver "traineeship Style. provisKM. In 2023-24 this will support appr0MatelY 21 young people (compored to 60+ on Iralneeshipsl. However. we have an opportunlty to grow this contract ye8r-on-y&ar. which we intend to do in an incrementsl way, one that enthe5 HLC to devdop rts own and partr)ers' capacity kn dellver a new type of provision- often aimed al young people vAth hTrgh needs and l ¢X education health care {EHCI plans. A8 for other lj'dding su¢xe8ses in 2023-24, HLC ¥• large UKSPF contrxts from Hull City Coundl and East Ridlng of Yorkshire Counal lo deliver'Eyploring OpportuThtles' IEO). partneTsFNp-ba8ed empbymenl programmes aimed al unemployed and e¢(Orn1¢allY Inactwe pIe aged 16+ EO bullds on best practice and experience from various ESF prt)Jrammes lè.g., Commurwty Grants. CLLD, BBO, and Springboard), which supported over 9,000+ beneficiaries befvdeen 2016 and 2023. As I vrrite there have been further successes thal wll impact on 2024-25 - notably 3 new UKSPF partnerships in Hull- Exploring ErnpbyMrt. Exploring Volunteering, and Families Leaming Together, more Multiply contracts in Hull and East Riding. and 'Goc(I to Go., a replacement for This-ANty, fund8d by the National Lottery Communrty Fund fcf 2 years from Aprfl 2024. hile there has been ry)n8iderable attentK)n and effcrt fcrf>Js&l this year on businw38 devthpmenl, we hav8 not lost sight of our other strategic priorities, qu¢tY corrtract wrfOMe. HLC has once again r&ained Matrix {IAGI acueditation and was also awarded the ESFA Subcontracting Controls Standard. Both awards demonstrate our ¢ommitment to developlng and supporung our 27 c<)mmunty*ased dèlivery partners. 2023.24 has perhaps been ma FKJsltive than we had antidpat&J. The trustees are tthmver mindful that the n8Xt coupl8 of years remain a challenge, and we might need to draw upon some of our reserves to malnt8ln slabilty and dèliver HLC'S d)arilaLle obj'ects. Nonstanding this, are confident that HLC'8 excellent contract delivery trad( record, repLrtation stakeholders, staff team expertise, and robjst financial heah (good reserves poslti¢M and no extemal borrthMng8) wt us in strong going f0Thrd. nn Chalr of Trustsos Date.. 19 Seplgmber 2024
HUMBER LEARNING CONSORTIUM TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 MARCH 2024 The trustees present thelr annual repjrt and financial statements fcf the year end•J 31 March 2024. The financial st81ements hav8 been prepared in aCCdance wrth thè aCtniIng pdicies sel out in note 1 to the financial statements and compty wth the charrvs tgovemiThJ dLw)Jmentl. the Compan5 Act 20 and "Accounting and Reporting by Charitles.. Slalemenl Df RerKJrnmended Practice aFvlicable to charities preparing Ihelr accounts In accordan th the Finanual Rep¢)rtwig Standard applicable in the UK and Republic of Ireland IFRS 102). leffectNe 1 January 2019). Objrtllves and activlti68 The charitable objects of HLC are to rKomote the advament of education fNlhe Publ benefiL In parttcula (al To improve ae$S to leaming opportun1b f uws, vduntews, and employees of volLmlary and communty organi8adons In Humber and Yorkshire (b} To d&v8lop voluntsry sedor leaming provid8rs to meet qualty thre5hokls arKI stakeholder requlremer)ts {cl To devek)p a p8rtnerEhip approach to the delivery and development of rn1rJ oppothjnmies aThJ g&)d practice {dl To cary out associated activibes (el To promot6 the efficiency and effecttveness of eharitès, voiuntsry and eommunity groups based in the Humber and Yarkshiro reglon by providing training oTrg¢irE support to increase their ability to ac¢*88 funding and partlapate in th8 regeneration of thelr area. Publlc bonem HLC'S activities promote th8 advancaml of education for the public benefft. In shapillg our obledlves for the year and planning our activith'es, the trustees have ded the Charity Commission's guidance on publlc benefit, including spKific guidanco on fee charging. Wo work wlth delivery partsws, the majority of which are local not-for-profft organisations, to dèliver a wde rang& of accredited and non-accredited leaming oppothnts'es HLC'S loaming provision is targeted al disadvantsged inthdual$ and oJmmunitie8. As a wsult. where wssibl8, learrmng is provided free of tharge, or ai the lowest P0bIe cost to enclrage access and partldpallon. From a broader pwspacbve, HLC'S aciwities help adu5 arKI young people within the YorkshSre and Humber region to engage on a journey that leads lo further leaming and l or jci> opportunibe5. benefthng both Indlvidual, their f8milies, and communile5. Qualty assurance and imwovement prc(es5es are given a hwJh acTOS5 HLC and its partners natworks. Guidance and training 8re regularfy provided to ensure thal delwery pathers and their staff memb8r8 meet th8 quality Ihresholés of funders and inspection tK)dies. HLC Is ctynmitted to slrengthenlng voluntary and community tor organisations to d81iver lèaming cpportunllles. Our experience demonstrates that prL%noting the ddlvery of leaming ¢¥)portunilies in partnership with local and trusted community groups help8 to engage thDse from the most disadvanlaged backgrwnds.
HUMBER LEARNING CONSORTIUM TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORD (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and perforniance Signrficant adiwities and achievamonls agairnst obiedives Duriro 202>24 HLC has been atrAe to womot6 and ddiver teamiThJ oPpnIeS through the followng core actiwties. grts, and contracts.. - Quallty and Dev8loFKnent - t)fE 1&18 Study Programme - ESFAAdull Educ2tion Budget UKSPF Multitjy Hull - UKSPF Mult[Y East Rlding - UKSPF Exploring OpporbJnitie5 Hull - UKSPF Explonng Opportunrties East Ridlng ESFA18-18 Traineeships - National Lottery Comm[lty Fund - Thi8vAtAlity Fxoje( - ESF l National LOttY Community Fund- Building Better oppnItIeS (BBO Humberl ESF Springboard - ESIF Hull Community-Led L(Kal DevelLwment {under Hull City Counc41, the aC£cyjntab bcmlyi Wth our partnS we hav8 delNerwJ a wide rarvJe of amIng OWlUn1t1es to disadvarrtaged people. The contracts and projects ara summaris8d below. The ktters in tnckets demon8trale wthich of HLC'S charitable obj.ects (See above) ar8 belng met by a particular area of grant. or ¢Ltr Qualty 8nd Development (a. b, c. d, ej Qualtty assuran and Ihe devdopment of deliVY partners is a driven by our commrimenl to continuous improvem8nl. Supporting vdunlary sector ¢xganisations to lJeca)me high qualty learrring prowders 18 one of HLC'S KKimary tharilaile objeS and one of our 3 strategic prIties. HLC carries out a rarvJe of quajity and develorment actiwties, induding.. - Regular 1-1 qualty and support viwls to partners - Observations of teaching, learning, aNJ assossment {induding dual obseNalion8) - Quallty Improvemanl Neork maethngs {&6 per academic yearl - gnated Safeguarding Officers neIk (4 per year) - Conts'nuing professional dev&h)pment events - Equalty & dtveAsity support. inc. E&D diartes and c&lendar5 - Leamer enrichment activiti&s - Safeguarding & Prevent Duty support arKI adv6 E-safety audits - Webinars - Telephone advice, orFline meetings, 1-1 supwrL and virtual ne1w$ -A dedicated quality resources websle - Matrlx IAG qu81ity as8urance t>)mpliance support These activities help HLC to m8intan and strengthen c4Jr relats"onships ¥th partner organisation8. in lum helping them to Ewli d thelr own capauty and deliver high quality leamlng opportunttses to our tsrget beneficiarles. HLC continues lo demon81rate a strong commltment to quality improvement and vrds rated 'Good' by Of8t8d Inspectors in June 2022. HLC has now been rated 'Gocrf In all rts inspections (2012, 2015, 2022). HLC holds the Matrix intomiation, advi(. and guid8nce quality standard. Cyber E5senlials a[@ditatiOn. DE- 1&18 Study Progtsmme st8rt8dAugust 2023 (a, b. G ej The Study Programme replaced cMJr previous 1&18 Traineeship rJ)ntra* Tr•then the nafjonal Tralneeshlps wogramme was scrapped by the fomier Conservative govemment. Thrs is inilially a small annual ntra delivered by 2 community-based partners. In 202&24 it wll wpport approximatdy 21 leamers in Hull & East Y(Kkshire. HLC 11 be seeking lo grow rt$ Study Programme delfvery in(xementally and carefully over the coming 2-3 academic years lo develop and maintsin quality of pro510n.
HUMBER LEARNING CONSORTIUM TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARGH 2024 ESFA- Ailuli Education Budg8t- start8dAugust 2023 (a, b, o g) HLC was one of only 55 training prOd$ nationally to bid successfully through thè 2023 ESFA AdLIt Educ2Oon Budget IAEBI procurement exerase. The annual recurring AEB progmMe supports adults aged 19+ offering a range of flable accredited units and qualificalions that are designed lo progress indrwduals into employment, further leaming, or career progression. In 2023-24 HLC wtyked wth 5 CL¥nmunty-based dellvery pathers in Hull & East Riding to support 365 learners. We tnt to grow out AEB proVIOn gradually. addirTrg new partwrs and local delivery over the next 2-3 years. AEB will be rebadged as Adult Sknlls Fund IASFI from August 2024 and will eventually come under the llxal remit and &trol of the Hull & East Riding Mayoral Combined Authority (via Devoludon} in summer 2026. UKSPF MulfiplyHullNovembw20221o March 2025 (a, b. c. d. e) Multiply is a national 3-year numeracy programme amed al adults aged 19+. 11 is frJnded through 8 20VA trjp slice of the UK Shared Prosperity Fund {UKSPF} and is deslgned to Improve adults, numeracy sknlls by engaging them in activities that develop their confidence wlh number5. HLC is leading a partnership of 4 community based VCSE organisalions who are delivwing maths-based ¥tivib"es across the ctty of Hull. The HLC-led partrtership is delivering 3 OLrt of the 5 Multiply contracis that tendered out by Hull City Counc41. These aelitIeS ¢xrrentty run until March 2025. UKSPF Multipty East Rithng Nov8mber 2022 to ma 2025 (a, c, dj HLC is l&ading a partnership of 5 community based VCSE partners who are de1fverf maths engagem8nt actiwlres across the East RKJing of Yorf(shire with a parbojlar emthasis on Bridlington. Goole, and Holdemes& Th8 ER Multiply Gontrart is annual (April-march) a1 has bean confirmed until Marth 2025. UKSPF ExplotFng Opportunftles HullfnNnAprt 2023 tt> Math 2025 la, b. cj Funded through UKSPF with Hull Cty Council as the ao))untat4e body, EO Hull is an HLC-led partnership prO1t with 8 experienced Hull-based org8nisations It aims to supp1 ungmployed and enomicallY Inacttve residents with tha goal Cf progres&ng them into employment or futher learning or movirrfJ them doser to Ihe labour market. The partnership provi¢Jes benoficiaries Yth 1-1 keyworker and a persgnalised programme of 8UPPOrt IlLIding dedicated mental health and debt adw¢e seryices. The daltvery model builds upon best practice from our successful CLLD, BBO, and Springboard programmes. UKSPF Explonng Opportunit$ East Rlg from August 2023 to March 2Q25 (a, b, G) Funded through UKSPF wth E8St Rlding a5 Ihe accc4JntatJe boty. EO Ea$1 Rithng is an HLC4ed parthership project wrth 8 experienced ER-based oryanisations It aims lo support unemployed and economically ina¢Xive reSIdlS with the goal of prOgresng them into eMDYMl or futhgr leaming or moving them clow lo the labour merkel. Th8 partnership provides benefici8ri8s 1-1 keyworker and a personalised progr8mme of support, including dedlcaled marrtal health and debt adwce services. Tha delivery model builds uwn best practice from our successful CLLD, BBO, and SprIngard pr&3rammes. ESFA- 16-18 Traineeships end July 2023 (a. G, d) This was a mainstream ESFA corrtracl supportirrd young people aged 16-18 la package of maths. English, ICT skills provision, employability thlls. and stnjctured work placements). In th& 2023-24 arademic year this wa8 replaced by an allernalive DfE 1&18 Study Progr74nme (see above) Traineeships were scrapped by the former Conservative govemment. Natn81 Lott@ry CommuntyFund- This-Ab¥ty ended M8r2024 (8. c. d) 'This-Abllltl was a 5-year project {January 2019 to Marth 2024} L))vering Hull and the East Riding. 11 supported young peopl8 8ged 1&29 with hidden disabilities. kamiNJ difficumies, physic81 (Ilsabilities. and long-term hearth conditions. This-Ability was purdy an 'intr) employTnenY project. At prciect dcise, This-Abillty had supported 218 young people. A 2-year follow-on PTc1 'Good to Go. has been fvnded ty National Lottery CoMmunY Fund via its Reaching Communities programme. ESF & Matnal Lottory CommUnS Fund- Budding 8gtteropportunrfs (880 Humb94 andod Jun& 2023 (a, b, o) HLC worked with 14 partner organisalions across the Humkr, including the 4 local authorit8. 1h a target to support 1,882 ac(0Mlea1IY Inactive 180%) and UrnOY8d indNiduals 120%), aged 25+. A total of 2,1 partiopants acG¢ssed the programme (106% of target). Al project dose. BBO had progressed 511 partiapant8 {25.5%1 into employment, 624 (31.2%) into fijrther leaming, aTrJ 308 {15.4%) intojob sear( actwtties.
HUMBER LEARNING CONSORTIUM TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Springb08rd (ESF and NBli(Trnal Lottery Match Funding) ended December2023 (a, c, dj Springboard w8s a £21 m programme12D16 to Dec 2023) 5uppth.ng 00mallY ihactive and unemployed young ople (aged 16-29) across the ryty of Hull and the East RKliffj. It also c4)verèd North and NOrtEast Llncolnshire up lo 2019. Springboard and Thi&Ability (see above) were cOMpMentary projects from a match fundlng perspeGtive. At projeci close SpringbrArd had engaged 5716 par.pants wth 41.3% gthng into furthw learnlngl tralning or employment. ESF/ERDF Huif o)mmunity-Led Loc81 D&volopmgnt (CILD) endedJune 2023 (8. b. o d. 8) HLC acted as the Programme Management Organtsation IPMO) managing a £6.63m programme of ESF and ERDF grants on behalf of Hull City Council (ac*"ng as the accountaLAe trxTrdyi. The grants enabled applicant organisallons (grant ffjCiF¥¢ntsl to deliver employability and enterprise support activities to unemployed and econornically inath've parbcipanls living in 4 hub areas, of Hull- West & Central. East, North and Orchard Path, and Bransholme. As the PMO, HLC provided trjrnmunity engagement, promoted CLLD gmnls, coor(lin8ted grant rounds, and perftym8nce I quality managed the successful grant reapients. At prwl cbse. CLLD had engaged 2.165 ESF partiapanls with 58.5% moving Into further leaThthng. ernplonent, or acbve job searth. Flnanclal revlaw This year, HLC is rewrb.ng a surplus of £23,193 From a financi81 health perspectlve. HLC has rob1 sustainabiltty and gearing ralings {Th) Ix)rrowr)gsl. an lresld reseNe posibon of £852,754. This yeals SrU5 consolidates HLC'S SLMJfKI fin8nclal f(MJting. and ow consldernble unrestricted reserves prowde worlang c4)ltsl to enatAe Trustees lo plan th crmfid8nce for 2024-25. Plans for fvturn p&rlods Al the lime ol wriknng, th8 new Latr government has not mad8 any announcements atXArt th8 futtjre of UKSPF nding beyond March 2025. Cla¢ity on this 1$ uitscai because 23 partners organisaticfis are currenly delivering on HLC'8 UKSPF pragrammos {in¢luding Multiy). We were pleased to be ort of only 55 leaming prowders nationally lo gain an Adult Education Budget IAEB) nlrad in tho 2023 ESFA tend8ring round. This £0.47m contrad, alorrfJ with our 18-18 Study Programme, places HLC firnily back in the mainstream-funded leamiTrJ arena for the first lime since 2019. Both ntraCt$ offer potential perfomiance-ba5ed growth, and we wll be soeking lo develop these incrementalty over Ihe next 2-3 a¢ademl¢ yaars. The AEB wGcess also wsilions us in atharKe of Ihe Hull & East Ri(tirwJ devolution deal, whiGh is movlng al pace towards a mayoral cornbined authority in eaty-2025. This wll mean that our area will hav8 dired control over fhe AEB budget and commissi¢ning presseS. WobalY from 2026-27, whith Strpd tenefft HLC. our pathers, and the Ioc81 communlty. Strncturej governance and management The charity is controlled by its goveming dcrt)Jmatt. a deed ol tw81. arxl constilules a limtted company, limtt8d by guarantee, as defined by the compan Ad 2006. The trustees. who are also the directors for the purp of cwipany kn, and who sérved durfng the year and up to th& dale of signature of the financi stat8ments wer8: Mr P Nicholson A Jonas Mr M Jenning8 Mr CADamell Mr G Betts Mts L Benton
HUMBER LEARNING CONSORTIUM TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 OrganisatK)nal stnjcture A board comprising six trustees is the curront the accountable body for policy and overslght within the agreed framework sel out in the Memorandum ofAss0ctIOn. The trustees me8t quarterly lo dIU$$ and aN)rove major destonS. The trfjard of HLC has a Finance & General Purposes SUgroUp, which meets in advance of a fiJll board meeting to scruunisè the financial and managemenl accounts. A management team comprising a Chief Execubve, Deputy Chief Exe(yJttve. and Quality Director. overse8S the day4 day operations of the organisation. Thè Chief EUtive al80 seNes as the Company Secretary. The Iruslees seek lo uttli8e a partnership approach in Ihe develcynent of strategy. enables th& whole staff team lo engage in and dis$$ issues affecting the ganiSation. We meet as a whole group every January for an away day. This ensures that the staff team remalns fvlly errfJaged and that stratègic decisions of the tKJard benefit from the expertise and operational experience of all empk)yees. Respgnsibility for the day-to-day operations and implementatn is subsequenly taken ty each individual member of staff. as apProt"8te lo their level of responsibility- ContsctU81 Pathershws Humber Leamlng Consorbum utilis8$ ¢tra(U81 parb)ershlps to enaNe Ihe ddivery of a broad range of services in support of leaming within the voluntary ar)d eommunty 8ector (VCSI. In ihis conl8Xt the organisation has worke(I very succ88sfully with th8 Education & Skills Fundiro Agency. Department for Education IDfEI, Nath'onal Lottery Community Fund, Hull Cty Counal {UKSPF & 14lultip4y). and East RidirKJ of Yorkshire Counul (UKSPF & Muttiply). HLC also has strategic alliantss whid) support VCS ing. parthers indud8 Hull & East Yorkshir& Buslness Growth & Skills Hub {form8rfy HEY LEP), and the National Careers Servi. Risk manag6m8nt The Iruslees have a duty to identify and revitrw the risks to vthith the tharlty Is exFosod and lo sure appropriate controls a In place to provide reasonable assuran againsi fraud and error. The management toam in conjunCn wth trustee reWeS'veS rev the Tisks faced by the organlsaUon. A ri8k register Is hBld and revi8wed periodically to assess changirKJ risk f&#ors. The main risks to the organisalion Considered as part of this strategy are as follows". 1. Corporatelstrategic FOr3 2. Govemance and Managnt 3. Financial 4. Personnel 5. Teaching, Learning &Assessmenl 6. Communlcations, Infornation Tethndogy and MIS 7. Prerni8es and fadllti88 8. Marketing 9. Natural disaster Audltor Following a wo¢ur¢ment exeKase Rackhams Accountants limited re-apwinted by HLC trustees at the 2023 AGM for a 3-ye8r period. The Irustses, rewt was approved by the 803rd ofTrustees. MrADCr land C$ 19 S¢plember 2024
HUMBER LEARNING CONSORTIUM STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 Th8 tnJstee5. who are 8150 the direclors of Humber LeamiThJ clS0r11uM for the purpose of rnpanY law, are responble for preparing the Tnjstees, Report and the financkal statements in aCcOrdar with applicable law and United KingdomAccounling Standards {United Kingd(Yn GeneraltyAccepted Aceounling Practice). Company Law requires the toJst8es lo prepare finanLial statements for eath financid year which gwe a and falr ew of the state of affairs of the drity and of the ineoming re8ourtÈs and aEvlication of resours, including the income and expÈnditur8, of the charttable oJmp8ry for that year. In prepartng theso finanual statements. the tnjslees are required to.. - select suitable accountlng potiaes and then them nsISten11y", - observe the methods arKI principles in the Charities SORP. - mak8judgements and estlmates that are reasonable and prudert. stste whether applicale VK AtCOLmtiro Stsrwjards have been fdk)wed. subl&a to any matertal departures disdosed and explained in the financial StsInts.. and - prepare the financial statements on the gcmro cceM bask8 unless it is inappropriate to pr68UTh that th8 charity will o)nlinue in operatv)n. The trustees a respon81ble for keeping 8dewale accountww records that di8cJose with reasonable accuraty al any time the ffinatKial position of the charity and erAble them to ensure Ut the ffinancial statam8nts comply wlh the ompanies Act 2006. They are al80 responsiiAe for safeguarding the assets of th8 (*arity and hence for takin reasonable steps for the prevention atvj detection of fraLbJ and other irregularilies.
HUMBER LEARNING CONSORTIUM INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HUMBER LEARNING CONSORTIUM Oplnlon W8 have audited the finanaal ststements of Humber Leaming Consortium (the 'charity'l for the year ended 31 March 2024 which comprise the slement of financial aciwbes. Ihe balance sht, the statement ofcash flows and n¢Aes lo the financial statemènts, induding gnIfint aLxounting policies. The financial reportlng framewofk thal has b@en applied ¥i their preparation is applvble law and Unilèd lfj'ngdom Accounting Standards, induding Financial Reporting Standard 102 Thg Financial ReportKw Standard opplKabl& in the UK &nd Ropublic of Irelan (United Kingthm Generally Accepted Accounling Pracbce). In our opinN)n, the finanaal sLements'. give a true and falr Mew of the state of the tharitable rmpanY3 affairs as at 31 Marth 2024 and of its incoming resources and applicati of resources. for the year then ended.. h8ve been prwerlv prepared in accordance United Kingdom Genèrally AcLpled Anting Practi. and h8ve been prepared in accordance with the requirements ofthe Companth Act 2006. Bos18 for oplnlon conducted our audit in accordance wtm Intemational Stsndards on Audthng (UK) IISAS (UK)) and applible law. Our responsibilliies under those standards are lurther desLYlld in the Auditorfs respon&biliti8s lor the audit ol th8 finanal st8tenS secticfi of our report. We are in(kpendent of the chaty in accordance with thè ethical requlrements that are relevant to tsjr audit of the finanaal stalements in the UK, irlUding the FRC'S Ethical Stsndard, and we have fuld our other ethScal resFMMbllieS in aCrdance these quireMerrts. We believe that the audit evidence we have obtained is sufficient and awropriale to provKl8 a bays for our opinion. Concluslons relatlng to going concarn In aud'ng the financial statements, we have cc)duded that th8 InAste8s' use of the goir4J wn¢em basis of aCcounng in the pParatIon of the financial statements 18 apFYo[KIe. Based on the rk we have perfomwj. we have not identified any material uncwtsinbes rdating to events or omdilions that, indiwdualty or collectively, may cast signrficanl doubt on the tharits ability to continue as a golng CAcern 8 period of at least tsyelve mothhs from when the financial statements are authorised for Issue. Our reSpsItH11tioS and the responsiLMlities of the trustees vAth re8p&# to gn9 concem ar8 éescribed in the r61evant 8eclion$ of this report. Oth¢r Infomiatlon The other infomiation mps@S Ihe infixmation included in th2 annual report other than the finarla1 slalemenis and cmjr audlloff s report thoreon. The Irustees are reswnsie for the other Infomiauon contsined within the annual report. Our opinion on th8 financial statements does not La)ver the other infomiatior) and we do not express any form of assurance cOncluon thereon. Our responbIlIty is to rèad the other irrformation and. in ckning so, consider ether the other information is m*erially inconsistent Imth the finanal ststemenls or our knovAedge obtained in the course of the audit, or olheNse OparS lo be matlalIY misstated. If we identfy suth matedal inconsislencie$ or apparent material misstatements. we are reqLMred to determine whether this give5 ri$e to 8 maletial misstatemgnt In the financial statements themselves. If, based on th8 Vrk we have performed. we wndude tt)at there is a materlal misstatement of this other inf0miat1c. we are requiryl lo rep)rt tral fact. have nothing to rep1 In this regard. Matters on whlch we are requlred to report by exceptlon We have nothing to report In re$peet of the follon9 matters in relat)n to whith the Charities (Accounts and Reports) R8gulations 2008 require us to report to you W. In our OnIon.. the information given in the finan81 statemenis is inconsislenl In any material respect with Ihe trustees, report., or sufficient accounting records have not been kept or the financial siatements are not In agreement with the accounting records" or we ttave not received all the infomiation and explanations we require for our audit.
HUMBER LEARNING CONSORTIUM INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HUMBER LEARNING CONSORTIUM Responsiblllties of trustees As explalned more fully in the statement of trustees. responsibile$, the tnJsta8s. are also the dIrlo[S of the charity for the purpose of company law: are respSIble for the preparation of the finaneial Statements and for being satisfied that they give a true and fair view, and frx such ternal trol as the trustees delemiine is necessary to enable the preparation of financial statements Ihat are free material misstatement, whethèr due lo fraud or error. In preparing thè finane4al statements, the trustees a responsible for assessing the charity's abilty I Contin as a going concern. disclosing. as apyuble: matters related lo going wnc8m and using the going concem basis of acojunting unless the trSte0$ intend to liquKlate the charitable compary or to cease operations. or have no realis¢ alternatwe but to do so. Auditorfs responslbllltles for the audlt of the flnanclal statements We have been appointed as auditor under section 144 of the Charities Acl 2011 aNI rep in accordance wth thé Act and relevant regulations made or having eff1 thereunder. Our oblediv8S are to obtain reasonable assurdnce about WI81 the finarKial statements as a Who are free from material misstateM8nl, vthelher due to fraud LY errcf. and lo issue an audilorfs report that includes our opinion. Reasonable aSSurar is a hvJh levd of assurance but is not a gu8rantso that an audit conducted In accordance wlth ISAS IUKI will always detect a material rn15Stalement when f( exists. Misstatements can arise from fraud c error and are considered material rf, indiyidualty or in the aggregat8. they could reasonably be expec*ed to infiu8nc8 the economic decisions of user5 taken on the basls of th8se firkgncial sta18ments. Th8 exient to whlch ¢r wocedures are of detedlng Irregularitles, Indudlro fraJ, is detalled below. As part of wr plannlng proc488: We enqulred of management ts systems contrL45 the company has in place. in the areas of the financAal Statements that are mosuy suscepb'tAe io the nsk of irregulariues fraud, and whèther there was any known, svspecled, or alleged fraud. We obtalned ar) understanding of the legal and regulatory frameworks applicable lo the company and we delemlned that the followng w¥e most revanl FRS 102. Companies Act 2006, Health and Safety at INorkAci Employm8nl Law. considered the incentives and OPFOrtunilie5 that e51 in the company, including the extent of rnanagemonl bias, which present a potential for IrreguLgrities and fraud to b& wrpetraled, and tsllued our risk assessment acrA)rdingly. Using our knoedge of the comparry. togetrÉr wtth the disc#Jssions hdd ryth the rnmpany at the planning stage. we formed a condusion on the risk of misstatement due Io itTegularikn85, including fraud, and lallored our procedures according to trus risk assessment.
HUMBER LEARNING CONSORTIUM INDEPENDENT AUDITOR'S REPORT (CONTINUEDI TO THE TRUSTEES OF HUMBER LEARNING CONSORTIUM The key procedures we und8rtook to detect irregularttles InclLvJing fraud durlng the course of the audit irKluded'. Identifying and testing journal entries and the overall ac£c4Jnting rrds. In particular. we tested rtems that were slgnificant and unusual. Remowing the finanaal statement dlsdosures and detemiining rter accounting poliaes hav8 been appropriately applied. Reviewing and challenging the assumptions and judgements used by managemant in their signifi¢orrt accounting estimates. In parbcular. we considered gc4ng nCeM and impaimenl of trade debtors. Assessing the extent of compliarKe, or W of, with Ihe rd8vant18ws and regulations. Testing key revenue lines. Perfomiing physical verification of key assets. Obtaining third party confimiation of mat1a1 ba18fKS. Documerrting and verifyirYJ 811 9[riCant related party banCeS and transacnS. Reviewng dmentatiOn such as the company ard minutes, correswjndence soliGitors, for discussi¢)ns of irregularit'es induding fraud. (4ing to the inherent limitations of an aLbJit. there is an unavoidable risk that we may not have detected some material misstatements in the finan¢¥al slotements even thwgh have terIY planned and p8rfomi&l our audit in accordance with auditing standards. The primary responsitxlty for Ihe prevention and detection of irregularities and fraud rests With thè drectCf8.. A further description of our responsibilities is available on the Financial Repx)rting.Coun(xl's vMbsite at.. https'.11 vMw.frc.org.uklaudlorsresponsikn'likbes. This desuiption fomis part of auditotrs raport. Use of our report This report is made sdely to the compatys mem5. as a bcxty, in accordance with 5e¢tion 391 of the Companie8 Act 2014. Our audll work has been undertaken so that Mh1 slate to th8 companls members those matters we are quired to stale to them In an wdilorfs report and for no other wrpose. To the fijllest extent permitted by law, wè do not accept or assume responsibllty to anyong other than the company and the compan*s members as a body. fLY our audit wort(. for this rekm or for the opinions hav8 formed. Mr Trevor Rackham FGCA (Sonlor Statutory Audllor) for and on behalf of Rackhams A¢countsnts Umlted 19 September 2024 Chartered Certlfted Accountants stalutory Audltor 3 Metton Enterprise Pat1< Redcliff Road Melton East Ytykshi Eryland HU14 3RS Rackhams Accountsnts Limited 18 ellbI& for aiDtsenI 8s auditor of lh& charity by virtue of its ellglbllty for appolnlmt as auditor of a company under Secticfi 1212 of the CompaniesAct 2006. 10-
HUMBER LEARNING CONSORTIUM STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Total Unrostrfclgd Rgstrlcted funds lunds 2023 2023 Total fvnds 2024 funds 2024 2024 2023 Incomefrom: Charitable actiwe# Investments 747.346 3.934,780 4,682.128 5.108 5,108 758,733 4,090,873 4.849.606 Total Income 752,454 3,934.780 4.687.234 758.733 4.090,873 4,849,606 Expendlturè on: Charitable activities 826,798 3.837.243 4.664.041 748.995 4.100.229 4.849,224 Totsl expendlture 826,798 3,837,243 4.ee4.041 748,995 4,100.229 4,849.224 Not 1ncomg118xp8ndlture (74,3441 97.537 23.193 9,738 (9,356) Transfers between funds 124,449 (124.449) {42,7791 42,779 Net movement In funds 50.105 (26.912) 23.193 {33.0411 33.423 382 Reconclllatlon of funds: Fund balances al 1 Aprll 2023 802.844 26.717 a29.1 835.885 {6,706) 829,179 Fund balanGès #t 31 MarGh 2024 852,949 (1951 852,754 802,844 26,717 829,561 The statement of financial actmties includes all galns 8ThJ losses recognLs&l In U)e ya8r. All 1me and expendlbjre derive from canfjnulng acuvilies. 11
HUMBER LEARNING CONSORTIUM BALANCE SHEEr ASAT31 MARCH2024 2024 2023 Notes Fixed 8ssets Tangible assets 11 5.614 15,042 Curront a8sets Debtors Cash at bank and In hand 12 699.453 995.467 702,361 1,158,807 1.694.920 1.861,168 Credltorn.. amounts falllng due wlthln one year 13 (847.7801 (1.046,649) Net cuffent assets 847,140 814.519 Totsl assets les8 current Ilabilttias 852,754 829.561 The frjnds of the charfty Restricted incorne funds Unrestrfcted fvnds 16 17 (1951 852,949 26.717 802,844 852.754 829.561 Tre company is enlit18d lo th8 exemption from the audrt requirement contalned In 8ecUon 477 of the C¢ynpanles Act 2006, for the year ervjed 31 Marth 2024. altlbxoh an audit has been carried out under section 144 of the Charftie8 Act2011. The directors acknowledge their responsbllities f comywrBJ with the requirements of the Companies Act 2008 with resp1 lo accounting records and the preparation of finarrial statements. The members have not required the compaw to obtaln an audit of ils financial slat8ments under the requlrements of Ihg Companie5 Act 20Cfj, for the year in questts)n in afx¢ydance secticm 476. These financEal sialemenls have been prepared In aOrdanCe with the apleable to compani8s subject to the small companies regime. The finaal statements were approved by Iha trustees on 19 September 2024 Mrs L Benton Trustoè Company regislratlon number 04383779 (England and Vl&les) 12-
HUMBER LEARNING CONSORTIUM STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flo% from operatlng actlvltles Cash (absorbed byllgeneraled from operations 20 1168.448) 163.643 Investlng actlvltle5 Purchase of tsngible fixed assets PrcKeeds from disposal of tangible fixed assets Investrnenl income received 16.433) 175 5,108 Net ca$h generated froml{u8ed In Invesllng actlvltles 5.10B (6.258) Not cash used In financlng a¢VIe$ Net Ido¢reaseylncraase In cash and cash equlvalents {163.340) 157,385 Cash and cash equlvalents at tglnning of year 1.158.807 1.001,422 Cash and cash équlvalents at ond of y8ar 995.467 1,158,807 13-
HUMBER LEARNING CONSORTIUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Charlty Informatlon Humber Leaming Consiybum is a wivate eompary Ihnited by guarantee incOrr8t8d in England and les. The registered offi(x is 6&71 Antaby Road. Hull, England. Easl Yortshire. HU3 2LL. 1.1 Aecountlng convenllon The finanaal statements have been prepared Sn acLX)rdanc£ the charivs tgoveming documenll, the Companies Aci 2006, FRS 102 The Financial Rewrttng Stsndard applit%b in the UK and Republic of Ireland. l°FRS 102.) and the Charitles SORP "Acc#)untiThJ and Rewrting ty Chariti8s.' Statement ol Recommended Practice applicable to charities weparfng accounts in accordan wlh the Flnandal Reporung Standard applicable in thè UK and Republic of Ireland (FRS 102)" leffe¢tfv& 1 January 20191. The charity 18 a Public Berit Entity as defined by FRS 102. The charity has taken advantage of the promsions in the SORP for th8rities not to prepare a Statanenl of Cash Flow8. The finanaal statements a pr8p8red in sterfing, sknich is the functbjnal currency of the tharity. Motary amounts in these firwicial statements are rouThJ8d to the nearest £. The finanaal statements have bn prepar8d uThler tho historical cost Gonvenlion, Imodified to include the rev81uation of freehold proparbès arKI to Indude investment propeTti8s aTrJ C8n financial i[rentS at fair valuel. The winLapal accounting policies adopted arg set OLrt telow. 1.2 Golng concgrn Al the b'me of apwowng the financtal statements. Ihe tnjstees have a reasonable expe¢tation that charity has adequate resources lo eontlnue in Operation e$nce for tho fwsgeabl? fvture. Thus the trte8S continLJQ to adopt the going concern basis of acCOn9 in prepariTrJ the finanryal statements. 1.3 Charftable lunds Unrestricted funds are available at the disrydion of the trustees In fvrtherance of their charitsbl& o'ectives. Re5triclBd fvnds are sut4'ec to Spe ¢ditin5 by ( grantors as lo h¢)w th8y may be used. The purw$es and usas of the restricted funds are sel ¢yJt in the noies to the financAal statements. Endowment fvnds are subject to 8w2fic cOnditiS by dcrfws that the carltal must be malnlained by the ¢harfty. 1.4 InGome Income Is recognlsed lthen the tharity is kgalty ents'tled to il after any perf0mnCe c#)nditksns have been meL the amounts can be measured rella1y. and f( is pre thai incM* wlll b¢ r1Ved. Cash donallons are re¢ognised on r8c8ipL Olher donalions are recognised once tha charfty has been notrfied of the donatlon, unless perf0mian conditions rewire deferral ol the amount. Income tax r8cov8rable in relation to donations receiv&J under &ft Aid or d8eds of covenant is recognised ot the tlme of the donation. Legacies are reeognised on recelpt or OtheThse rf the tharity has be8n notifigd of an impendlng drIbUtiOn, the amount is known, and recelpl is expect. 11 the nOnt is not kn¢)wn, the legacy Is treated as ClIngent asseL 14-
HUMBER LEARNING CONSORTIUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accoundng FKllcl•s (Contlnuad) 1.$ Expendlture Expenditure is recognised once ther& is a legal constnKaTrrn obligatn to transfer economic ben8fit to a third party. It is probable Ihat a transfer of economic benefits will be required in settlement, and the amount of the d)ligatiDn can b@ measureil reliably. ExprtUre is classified by a¢tMty. The costs of eath activty are made up of the total of dIrt costs and shar8d Sts, including support costs involved in undertakiro each actmty. Direct costs attributable to a single activity are allocated directly lo that activty- Shared costs whith contribute lo more than one activity and support costs which are not attributable to a single actmty are apFOrtioned bewn those a¢tivilies gn a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation tharges are all¢xaled the portlon of the assevs use. 1.6 Tanglble fixed assets Tangible fixed assets are initially measured at cost and subwuenty measured at cost or valuation. nel ot depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or ValUat)n of assets less their re8idual values over their useful lives on the following bases.. Plant a1 eqPment 3 Yea on cost The gain or1088 ari8iThJ ¢)n the disposal of an assei Is detemina as tho drfference betsbeen thè sale proceeds and the Cang value of the asse( and Is recognt8ed In the Stat&nrt of financial aotivities. 1.7 Impairnient of fixed assets At each reporting end dete, the tharity reviews fhe carryirBJ amounls of its tsngible assets to determine whether there is any indication that thos8 assets have suffered an impaimient loss. If any Such indicats'on exists, the recoverable amount of Ihe asset is estimated in order lo detemiln8 the extent of the impaiment loss Irf ony). 1.8 Cash and cash 9qulval8nts Cash and cash equivalents indude cash in hand. dwsits ld al call th banks, other short-tem liquld investments with original maturities of three mMths LY less. and bank overdrafts. Bank overdrafts are shown wtthin borrowlngs in current liabilittes. 1.9 Flnanclal Instruments The charity has elected to apply the prwsions of Se(on 11 'Ba%c Financial Inslrum8nts' and Section 12 'Other Flnanclal Instruments Issues. of FRS 102 to all of its finarKial instruments. Finanal instruments are rec(oniwJ in the charivs baLgnce sheet when Ihe charity becomes party lo tre contrathal provisions of the instrument. Finanual assets and liabilhies are offset. Ihe net amwnts presented kn the finandal statem8nts, when there is a legally enfOrable right to sei off the recy)gnised amount8 and there 18 an intention to Settle on a net basls or to realise the asset atKI setde the liakn'lity &muManeously. 8asic Ilnaoclal assets Basic finandal assets, whlch indude debtors and L*sh and bank balan$. are initially measured at transaclion price including transaclion costs and are 5ubsequentty carried at amorbs8d cost using the effedive interest method lesS the arrangement constilule$ a finan(ing transaction, where the transa¢tion 1$ measured at the wesent valu& of the ftrture receipts discounted at a market rat8 of int8rast. FinanGial assets dassifij as receivable wthin one year are rK)t amortBed. 15-
HUMBER LEARNING CONSORTIUM NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting polScles Iconllnuedl Baslc flnanclal Ilabllltigs Basic financial liabiltties, induding cd0[$ arKI bank loans ar8 initially recK)gnIS at transaction prfce unless the arrangement CrstIlU1eS a finanting transactn. %there Ihe dobt instrument is measured al the present value of the fijture payThents 1th8counted at a market rate of intsrest Financial liabilrties Glassified as payats4e within one y8ar are not amortlwj. Debt instruments are subsequentty rried at an)orbsed cost, using the effective interest rdle method. Trade credIt$ a obligations to pay goods or swvices that have been acquired in the ordIn course of operations from suppliers. Amounts payable are dassified as current liabil[tS if payrnent is due wllhln one year or less. If not, they are presented as n-current Ikgbilities. Trade ¢xeditors are racognised inrtially at transaction price and SubSuellY measured at amorbsed cost using the effecive interest method. Derecognltlon of financial liabilities Financial liabilities are derecognised when the tharity's tractha1 olg.0nS ewre or are d18charged or C8ncelled. 1.10 Employee benefits The cost of any unused holiday entÉUemerrt is re(wrosed in the nc•Y in which the employee's services are received. Temiination benefits are recognis&Y immediately as an exwise when the tharty Is demnstrably committed lo terminate tha employment of an employee or lo prwdo termination benefits. 1.11 Retlrement bgn8flts Payments to defined contrtbutkn retiremert benefft scemes are charged as an expense as they fall du8. Crftlcal accountlng estlmates and Judgements In the application of the chaftty's accounting poliues. the trustees are required to make judgemts, estimatès and 8SMplICns about the caryiw amount of assets and liabilitie5 that are not readi apparent from gtr$r sourcey. The estimates and associated assumptions are b05ed on hIstal experience and oth8r factrKs that are con81dered to k relevant. Actual results may drffer from these estimates. Th¢ asb'mates 8nd undertylng as8umW"(s are rewewed ¢)n an ongoing basis. Revi$lor)8 to accounting g$1imate5 are rewgnised in the perithl In vthich the estimate is revised where the r8wsion affects (lY thal pericMJ. or in the p8riod of the rewsion and future pericrfls ere Ihe revision affects both ¢urrent and fvtur8 periods. Income from charttable actlvltles Unrestrlcted Restrlct¢d funds funds 2024 2024 Tolal Unrestrlcted Restrlcted ndg funds 2023 2023 Total 2024 2023 Subcontractedlgamlng Serwce$ provÈded urKler contract 747,348 3.934.780 4.682.126 758,733 4,090,873 4,849,606 16-
HUMBER LEARNING CONSORTIUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from Inv•stmgnts Unre5trfctsd Unrestrfcted funds funds 2024 2023 Inlerost receivable 5,108 Expondlture on ¢harllable activltles Subcontracted Subcontracted leamlng learnlng 2024 2023 Dlrect costs staff costs DepreLaation an(J impairment Insura8 Event costs External COrulnts Training and Ir8iners ESFA community grants Leamer bursery payments Subcontracted Leaming 1.214.420 9,427 3.024 4,708 34,753 2.370 1,301,216 10,953 2,740 5,948 83,383 7,839 547,550 36,068 2.680.283 39,387 3,216.006 4,524.095 4,675.940 Share of support and govgrnance costs {w¢ noto 6) Support Governance 135.462 4,484 168,831 4.453 4.864.041 4.849,224 Analysls by fund Unreslricled futKIs Restrided furKIs 826,798 3.837.243 748,995 4,100,229 4,664,041 4,849,224 17-
HUMBER LEARNING CONSORTIUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to actlvitlos 2024 2023 Sundrles Bank charges Accomodab'on Communicalio EquMent and resources Organisation development Staff expenses Govemarte costs 1.340 1.122 46,523 29,032 38.803 7.514 11,128 4.484 650 1,047 6e,630 32,750 ,135 e,827 24,792 4,483 139,948 173,284 Analysed betweert: Sub¢ontr8Cted leaming 139.946 173,284 Net movement In funds 2024 2023 The net movement In funds is Stated afterchargngl(tyedtilng): Fees payable fw th8 au(tht of th& charivs nara&1 st*ments Depwiation of owned tangible fixed asseis 4.292 9,427 3,685 1 Ll,953 Truste None of the trustees (or any rSOn$ ¢nneCt ryth them) receNed any remuneration or bènefits trom the tharity during the year. Employees The average monthly number ofemployees during the year was.. 2024 Number 2023 Number CEO Sanior management Delivery staff Administration Information lechnokngy 17 12 23 16 Total 18-
HUMBER LEARNING CONSORTIUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employeas Icontlnuedl EmploynRnt costs 2024 2023 Wages and salaries So(aal security costs 0er penslon costs 1,016,854 93,766 103,800 1,091,528 98,299 111,389 1,214,420 1,301,216 The number of empbyees ose annud remuneraticffl was than £60,0(N) Is as follows.. 2024 Number 2023 Number £60.001- £70.000 £70,001- £80,000 10 Taxatlon The charlty Is exempt from tsxation ¢)n its activities because all its income is appli for ¢haritablè purposes. 11 Tanglble Ilxèd assets Pl8nt and equlpmont Cost At 1 April 2023 Disposals 48,761 (12,0731 At 21 Marth 2024 34,688 Depreclatlon and Impalrnignt At 1 April 2023 Oepwation charged in the year Elimin81ed In respecl of disposals 31,720 9,427 (12,0731 Al 31 Mar¢h 2024 29,074 Carylng amount At 31 March 2024 5,614 Al 31 Marth 2023 15,042 19-
HUMBER LEARNING CONSORTIUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Dobtors 2024 2023 Amounts falllng due withln one year. Trade debtors Prepayments and accnjed income 29.8( $69,647 182,884 519.477 699.453 702,361 13 Crodltor5: amounts falllng due vlthln ono year 2024 2023 other tsxaoon and scaal security Deferred incune Trade ¢yethltys Accrua18 13.859 35.528 228,715 569,678 64,855 642.997 217,455 121,342 14 847.780 1,046,649 14 Deferred Income 2024 2023 other defrrred ineome 35,528 642,997 Deferred income is lftdud in the ffinancial alements as follows: 2024 2023 Deferred income is induded within: cUt liabilib'es 35.528 642.997 Movemenls in the y&8r Deferred income al 1 April 2023 Released trom prawous perfods Resources defed in the year 642.997 1642,9971 35,528 511,361 (511.361> 642.997 DeferTrd In¢om8 at 31 March 2024 35,528 642,997 15 R¢tlroment benellt 8chomes 2024 2023 Deflned contrlbutlon schemos Charge lo pffjfft or loss In res* ofdefin8d contribution $dwné6 103,800 111.389
HUMBER LEARNING CONSORTIUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Rètlr8ment benefit schemos {Contlnuedl The charity operates a defined conthbution pension thme for all qualifying employees. The asset8 of the scheme are held separatety from those of the charity in an independentty adminisiered lund. 16 Rgstrlcted funds The restricted funds of the ctharity ujmprise the •ed balarKes of thjnations and grants held on trust subject to Spea nditionS by donors as lo how they may be At 1 Aprfl 2023 Incomlng resour¥ R8sourcas expended Transfers At 31 March 2024 YEI ESF Sprfngboard ThisAtylity BBO Springboard 3 High Needs Leamers Funding UKSPF Exploring Opportunities E8St Riding UKSPF Exploring Okwortunitles Hull 25.398 1.319 559,055 976.546 152.282 815.190 7.700 {463,055) {979.150} {149.854} {813.282) (7.8251 1121,3981 1,285 {2,428) (1,9081 11251 737.72S 1737.802) 686,282 {686.275) 26.717 3.934.780 {3.837.243) (124,4491 11951 Preylous year: At 1 Aprfl Incomlng Resourc 2022 regources expended Transfers At 31 March 2023 YEI ESF Springboar ThisAbility BBO CommunSty Grants 5 Springboard 3 22,425 2,359 1,148.650 826.441 1,193.857 821,073 300.852 {1.145.67n {827.481) {1.207.881} {618.338) {31XI.852) 25,398 1,319 14,024 28,755 (31,490} 16.706) 4,090.873 4,1,229 42,779 26,717 -21-
HUMBER LEARNING CONSORTIUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Unrestrlcted funds The unrestrided funds of the d)arity o)mprise the une4nded batances of donatK)ns and grants which are not subi8Ct to specifK condthons by don and grantors as to how they may be used. These include designated funds which have been set aside out of unrestrided fvnds by the trustees for specrfic purposes. At 1 Aprll Incomlng Resourcos 2023 rnsOUr exnded Transfèrs At 31 March 2024 Redunda reserve AEB Youth Hub Barbara Halgh Investment FuTrJ CLLD Youth Hub2 Youth Futures vpp Study Programme Muwply East Riding mUpIY Hull General fund5 1K2.729 12,657 89,193 {846) 175.386 168,744 (1,4811 (257,9371 (2,1Cl (1,0) (18,5831 (28,3CK)I {48.9721 {29,8561 (71,4771 (173,215) (2(,684> 5,326 4,227 1,8 895 29,563 27,523 48.524 29,856 64.703 175,000 2CwJ.100 (167,8701 1118) {6.7741 6.312 {8111 678,836 4.527 1227) 473,355 191.233 802,844 752,454 (826,798) 124,449 852,949 PreOuS year: At 1 Aprfl 2022 Incomlng resources Resources expènded Transfers At 31 Mar¢h 2023 Redundancy r8serve AE8 Youth Hub Barbara Haigh Investrnent Fur CLLD Spot Contracts YoLth Hub 2 Youth Fure$ Multiply East Rithng Mulfjply Hull General fund8 139,941 22.788 24.941 162,729 109.610 {134.551) 4,227 4.227 1.150 111.595 18,240 204.867 41,702 185,932 82,000 3.837 {1,1 $0) (86,618) 128,945) (203.772) (41.254) 1181.405) (82,227) 10,927 131.913 156,890 10.705 895 448 4.527 12271 473,355 559.804 1101.213) 835,885 758.733 1748.9951 142,779) 802.844
HUMBER LEARNING CONSORTIUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Analysis of net assets between funds Unrestricted funds 2024 Restrfcted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assels1{Ilabilltiesl 5.614 847.335 5,814 847.140 11951 852.949 {195) 852,754 Unrfjstrlcted funds 2023 RgstrlGted fut)ds 20LI Total 2023 At 31 March 2023: Tangible assets Current assetsllliabilities) 15.042 787.802 15,042 814.519 28,717 802.844 26.717 829,561 19 Relatsd party transactlons The charitable company shares a mutual trustee th the Development TSt. During the year payments were made by Humber Leamlro Consortium to Goothiin Devek)pment Trust amounting to £556,85912022 '. £537,861). Cash g9nèrated from opératlons 2024 2023 Surplus fty the year 23,193 382 Adju8thents for.. Investrnent income recognised in statement of ffinancial aeknvilies Depreciatitsn and impaiment of tanb fixed assets 15.108) 9,427 10,953 Movements in working capital.. Dec*ease in debtors In¢ase1(ecrease) in crerfitors IDecreaseVlncrease In defr¢d irKX)me 2.908 408,600 1607,468) 288,226 (247,552) 131,634 Cash labsort)ed byygenerdtsd from opgradons 1168.448) 163.643 -23-