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2022-08-31-accounts

CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

Year ended 31 August 2022

INDEX TO FINANCIAL STATEMENTS

Page No
1 Legal and Administrative information
2-6 Report of the Trustees
7-8 Independent Examiner’s Report
9 Statement of Financial Activities
10 Balance Sheet
11-15 Notes to the Financial Statements

CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

LEGAL AND ADMINISTRATIVE INFORMATION

Registered Charity Number 1110315
Registered Company Number 02814910
Trustees (who are also Directors)
Sam Story
Vikki Matthews
Liz Barlow
Avis Carter
Ian Cunningham
Anne Gimson
Jonathan Pain
Malcolm Wolf
Registered Office First Floor Technology House
West Road,
Portslade,
East Sussex
BN41 1QH
Independent Examiner Jason Foxwell FCCA FCIE
independent-examiner.net
39 Enfield Road
Poole
BH15 3LJ
Bankers CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Cambridge & Counties Bank
Charnwood Court
5B New Walk
Leicester LE1 6TE

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CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

REPORT OF THE TRUSTEES

The Trustees of Centre for Self Managed Learning are pleased to present their report and financial statements for the year ended 31[st] August 2022.

1.0 ORGANISATIONAL STRUCTURE AND MANAGEMENT

1.1 Charity status

The Centre for Self Managed Learning is a registered charity, receiving charitable status on 5[th] July 2005. It is a company limited by guarantee and was incorporated on 4[th] May 1993 under the Companies Act 1985. The Centre for Self Managed Learning was established under a Memorandum of Association, which describes the objects and powers of the charitable company; it is governed under its Articles of Association as amended by special resolution on 6[th] June 2005. Under those Articles, the Trustees are elected by the existing trustees.

1.2 Governance and decision making

The Board of Trustees governs the Centre for Self Managed Learning and meets at least once a year to discuss and review strategy, planning, development and financial matters. Day-to-day management of the current main project, Self Managed Learning College, is delegated to the Governing Body.

1.3 Recruitment, appointment, induction and training of Trustees

Trustees are recruited and appointed on the basis of their knowledge of and/or dedication to understanding and upholding the principles and practice of Self Managed Learning. They must be committed to working in the interests of and actively supporting the aims of the Charity. Trustees must be age 18 or over.

2.0 OBJECTIVES AND ACTIVITIES

2.1 Objects

The advancement of education among young people and adults within the UK and abroad by the provision of resources, facilities, materials, information, advice and support to those advancing education policy and practice both in and outside state systems.

2.2 Aims and principal activities

The principal aim of the organisation is the promotion and development of Self Managed Learning for people of all ages and in all contexts. The principle activity currently is Self Managed Learning College focusing on programmes for young people. SML College organises events promoting the Self Managed Learning approach, engages in educational research and publishes materials on learning issues. Our principle sources of income are fees from parents and from local authorities, grants from funding bodies wishing to support community groups and advancement in education and donations from social enterprises, principally Strategic Developments International Ltd (SDI). Our main expenditure is attributed to the running costs of the College. This growing project allows the charity to provide sustainable support to young people engaging in SML. Our key objectives are:

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CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

REPORT OF THE TRUSTEES - CONTINUED

2.3 How the Centre for Self Managed Learning activities deliver public benefit

Public benefit is delivered through the activities of the Self Managed Learning College which provides opportunities for young people age 9 – 17 (the beneficiaries) to take responsibility for their learning and future direction whilst supporting and challenging one another. In this way, they develop the capability for life-long learning and are far better prepared to take their place in society as self-reliant citizens. One example of the results achieved is that all the students leaving the College at 16 have gone on to further education, sixth form college, jobs or self-employment, i.e. the College has had no NEETs since its beginnings in 1999. This record is particularly impressive given that some students in the College are those who have not succeeded in school.

3.0 ACHIEVEMENTS AND PERFORMANCE IN 2021/22

3.1 Covid-19 Pandemic

The impact of the Covid-19 Pandemic has required the charity to make permanent adjustments to the new normal. Social distancing and the potential need to transition between in-person and online working is now part of our normal working practices. Despite the continued challenges the charity has increased its reserves this year. The Board of Trustees believes the need for Self Managed Learning is more pressing than ever and continue investing in an afternoon programme to offer places to more young people.

3.2 Board of Trustees

There have been no additions to or retirements from the Board of Trustees in 2021/22. The Trustees continues to meet three times a year via Zoom. Jonathan Pain announced his intention to retire in 2022/23, the Trustees have begun the process to identify any skillset gaps and to recruit accordingly.

3.3 Self Managed Learning College

Carl Brady has now completed two full academic years as the College Coordinator.

In September 2021 the College introduced an afternoon programme.

The average number of enrolled students throughout the year was 59 out of a maximum capacity of 72. Services were provided by 8 Learning Advisors.

For the start of the new financial year, there are 41 students enrolled in the morning programme with 24 enrolled to start the afternoon programme.

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CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

REPORT OF THE TRUSTEES - CONTINUED

There are 21 additional young people awaiting trial weeks.

The Trustees are very grateful to the Dewan Foundation for their continued donations which has allowed us to engage an experienced fund raiser, Paul Elgood, who is working to increase our hardship fund and funding for new projects.

3.4 New and Other Projects

The Action Group continues to evaluate ideas and potential projects. During 2021-22 the focus was setting up an afternoon programme. This this successfully underway, the Trustees will confirm the next projects; a premises move and then an Exam Centre.

Throughout 2022-23 the Action Group will monitor opportunities for starting additional new projects.

4.0 FINANCIAL REVIEW

The financial statements are set out on pages 8 to 14. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

4.1 Overview

The year ended 31[st] August 2022 ended with net income over expenditure of £43,222 (2021 – £62,821). Of this, £66,724 (2021 – £38,120) was unrestricted and there was a deficit of £23,502 (2021 – surplus of £24,701) in restricted funds. At 31[st] August 2022, there were £274,026 (2021 - £207,302) in unrestricted reserves and £1,199 (2021 – £24,701) in restricted funds.

Total income for 2021/22 amounted to £253,953 (2021 – £226,194), an increase of £27,759.

Total expenditure for 2021/22 amounted to £210,731 (2021 – £163,373), an increase of £47,358, all of which was recorded as charitable expenditure.

4.2 Financial outlook

College fees were held at £3,990 per year and the deposit held at £750 for 2021/22. The Trustees approved a fee increase to £4,500 per year for 2022/2023. The fee for the new afternoon session will increase from £3,300 to £3,600 per year for 2022/2023.

We are entering a period of unusually high global economic uncertainty. The Trustees have increased the frequency of financial review from annual to termly. The review will cover fees for our services, salaries for employees and fees paid to suppliers.

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CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

REPORT OF THE TRUSTEES – CONTINUED

The College Coordinator and Chair of Governors have demonstrated that the college can be run remotely and there is still a need for this service. This means an ongoing pandemic is unlikely to affect our financial stability. Our aim is to direct a small amount of reserves into new projects while maintaining a reserves policy of approximately 12 months.

Trustees are therefore confident about the financial outlook.

4.3 Reserves policy

The Centre for Self Managed Learning is committed to using its resources in pursuit of its charitable objectives. It is also committed to maintaining a level of reserves that is prudent to meeting ongoing liabilities, sufficient to ensure that all delivery commitments can be met and to protect the long-term future of the Centre for Self Managed Learning operations. The Centre for Self Managed Learning reserves policy seeks to balance these priorities.

As income is comprised almost entirely of student fees, the trustees consider it prudent to maintain their level of reserves at a level that represents approximately 12 months expenditure of the charity, based on planned expenditure for that year. As at 31[st] August 2022, unrestricted reserves were £274,026 which represents over 18 months of unrestricted fixed and variable costs at 2021/22 levels. As fixed costs are limited to those associated with the Co-ordinator post and premises (lease, etc.), trustees are confident they have sufficient reserves for the forthcoming 12 months. The level of reserves will continue to be monitored each term and appropriate action will be taken if reserves fall below the desired range.

5.0 STATEMENT OF TRUSTEE RESPONSIBILITIES

The Trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of the affairs of the company and of the results of the company for that period. In preparing these financial statements, the Trustees are required to

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CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

REPORT OF THE TRUSTEES – CONTINUED

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and enables them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by the Trustees on and signed on their behalf by:

............................... Sam Story Trustee / Director

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CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF CENTRE FOR SELF MANAGED LEARNING LIMITED (the ‘Company’)

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2022.

Responsibilities and basis of report

As the charity’s trustees (who are also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under 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 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Jason Foxwell FCCA FCIE independent-examiner.net 39 Enfield Road Poole BH15 3LJ

Date:

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CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31[ST] AUGUST 2022

Note
Income from:
Donations & grants
Charitable activities
2
Investments
Total
Expenditure on:
Charitable activities
4
Total
Net income
Transfers between funds
Net movement in funds
3
Reconciliation of funds:
Total funds brought forward
Total funds carried
forward		 Unrestricted
Funds
£
15,005
231,161
1,223		 Restricted
Funds
£
6,564
-
-		 Total
2022
£
21,569
231,161
1,223
253,953
210,731
210,731
43,222
-
43,222
232,003
275,225		 Unrestricted
Funds
Restricted
Funds
Total
2021
£
£
£
9,876
46,726
56,602
168,523
-
168,523
1,069
-
1,069
247,389 6,564 179,468
46,726
226,194
180,665 30,066 141,348
22,025
163,373
180,665 30,066 141,348
22,025
163,373
66,724
-		 (23,502)
-		 38,120
24,701
62,821
-
-
-
66,724
207,302		 (23,502)
24,701		 38,120
24,701
62,821
169,182
-
169,182
274,026 1,199 207,302
24,701
232,003

All amounts relate to continuing activities.

There have been no recognised gains or losses other than the result for the financial year and all surpluses or deficits have been accounted for on an historical cost basis.

The Statement of Financial Activities also complies with the requirements of an income and expenditure account under the Companies Act 2006.

The notes on pages 10 to 14 form part of these financial statements

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CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

BALANCE SHEET AS AT 31[ST] AUGUST 2022

Note
Fixed Assets
Tangible Assets
7
Current Assets
Debtors
8
Cash at Bank and in hand
Creditors:
9
Amounts falling due within 1
year
Net Current Assets
Net Assets
10
Reserves
Unrestricted Funds
Restricted Funds
Total Funds		 2022
£
£
-
9,610
296,415
306,025
(30,800)
275,225
275,225
274,026
1,199
275,225		 2022
£
£
-
9,610
296,415
306,025
(30,800)
275,225
275,225
274,026
1,199
275,225		 2021
£
£
-
5,000
245,739
250,739
(18,736)
232,003
232,003
207,302
24,701
232,003		 2021
£
£
-
5,000
245,739
250,739
(18,736)
232,003
232,003
207,302
24,701
232,003
306,025
(30,800)		 250,739
(18,736)
275,225 232,003
274,026
1,199		 207,302
24,701
275,225 232,003

For the year ending 31[st] August 2022, the company was entitled to exemption from audit under Section 477 of the Companies Act 2006. The members have not required the company to obtain an audit of its financial statements for the year ended 31[st] August 2022 under Section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for:

The financial statements have been prepared in accordance to the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

The financial statements were approved by the board of Directors on and were signed on its behalf by:

…………………………… Sam Story Director / Trustee

The notes on pages 10 to 14 form part of these financial statements

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CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2022

1. ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements.

a) Basis of Preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

These financial statements have been prepared on the going concern basis. The charity has sufficient reserves, and the trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

b) Income

All income is recognised when the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from contracts is recognised on an earned basis in the year in which the conditions for receipt are met.

The accounts distinguish between restricted and unrestricted funds. The former have been raised by the charity for specific purposes or are received from donors and are subject to restrictions on the purposes for which they may be used. Unrestricted funds are those where there are no externally imposed restrictions and are available for use at the discretion of the Trustees for expenditure on its objects or appropriated to reserves for internally designated purposes.

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CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] AUGUST 2022 – CONTINUED

d) Expenditure

Expenditure is recognised in the period in which it is incurred.

Expenditure on grants is recorded once the Charity has made an unconditional commitment to pay the grant and this has been communicated to the beneficiary or the grant has been paid, whichever is the earlier.

Expenditure is allocated to the particular activity where the cost relates directly to that activity. Support costs include central functions and have been allocated to activity cost categories on the basis consistent with the use of resources. Allocations are predominantly based on usage and staff time expended.

e) Depreciation and Fixed Assets

Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life which in all cases is estimated at 3 years. The company does has a minimum value of £500 for capitalisation of fixed assets.

f) Operating leases

Rentals payable under operating leases are charged on a straight line basis over the terms of the lease.

2. INCOME – CHARITABLE ACTIVITIES

SDLC Fees
Student deposits
Other income		 Unrestricted
Restricted
2022
2021
£
£
£
£
209,817
-
209,817
150,151
17,743
-
17,743
17,363
3,601
-
3,601
1,009
231,161
-
231,161
168,523

3. NET MOVEMENT IN FUNDS FOR THE YEAR

2022 2021
£ £
This is stated after charging :
Independent examiner’s fees 575 575

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CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2022 – CONTINUED

4. EXPENDITURE
Charitable activities:
Direct costs
Sussex Community Foundation
Tutoring fees
Training
Subsistence & travel
Recruitment & consultant appointment
Student trips & resources
Projects
Computer & I.T. costs
Rent
Service charges
Insurance
Utilities & phone
Maintenance & cleaning
Canteen
Hardship payments
DBS checks
Exam centre
Support costs
Salaries and employers NI
Pension
Marketing fees, printing & advertising
Subscriptions
Office costs
Events & meetings
Stationery & resources
Book-keeping
Payroll
Bank charges
Bad debt charges / refunds
Other support costs
Governance
Accountancy & independent examination
Service agreement
Legal fees
Total charitable activities		 2022
2021
£
£
-
2,482
79,968
48,367
1,004
-
108
91
-
3,750
203
270
9,560
2,860
1,116
2,267
20,000
20,000
3,260
2,860
1,144
1,014
3,236
5,037
3,365
1,743
473
322
9,926
19,165
67
496
594
600
134,024
111,324
46,275
33,756
1,954
1,873
6,049
7,213
1,274
86
113
123
1,735
-
1,863
1,146
2,629
1,776
558
561
93
84
7,087
598
3,561
1,258
73,191
48,474
575
575
1,154
1,560
1,787
1,440
3,516
3,575
210,731
163,373

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CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2021 – CONTINUED

5
STAFF COSTS
Salaries and wages
Social Security costs
Pension costs		 2022
£
32,978
13,297
1,954
48,229		 2021
£
23,002
10,754
1,873
35,629

The average number of persons employed by the company during the year was 1.5 (2021: 1).

No employee received emoluments in excess of £60,000.

Centre for Self Managed Learning Limited considers that the key management personnel comprise the Board of Trustees, the Chair of Governors and the Co-ordinator. The total employee benefits of the key management personnel of the charity were £37,220 in the year (2021: £35,629), which were made in respect of the Co-ordinator.

6 TRUSTEES’ REMUNERATION AND REIMBURSED EXPENSES

No Trustee received any emoluments (2021: £NIL) or reimbursed expenses (2021: NIL).

7. TANGIBLE FIXED ASSETS

Cost
At 1 September 2021 and 31 August 2022
Depreciation
At 1 September 2021 and 31 August 2022
Net Book Value
At 31 August 2021 and 31 August 2022
8.
DEBTORS
Rent deposit		 2022
£
5,000		 Computer
Equipment
£
**4,807 **
4,807
-
2021
£
5,000
5,000 5,000

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CENTRE FOR SELF MANAGED LEARNING LIMITED (A Company Limited by Guarantee) Company Number: 02814910 Charity Number: 1110315

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2022 – CONTINUED

9. CREDITORS: Amounts falling due within one year

CREDITORS:Amounts falling due within one year
Trade creditors
Fees in advance
Accruals		 2022
2021
£
£
6,717
3,172
23,509
14,989
575
575
30,801
18,736

10. RESTRICTED FUNDS

RESTRICTED FUNDS
Balance at 1 September 2021
Income
Expenditure
Balance at 31 August 2022		 Hardship
Fund
£
4,561
6,564
(9,926)		 Fundraiser
Fund
£
20,140
-
(20,140)
1,199 -

The Hardship Fund is monies donated to be used towards meeting fees for those unable to meet the full fees.

The Fundraiser Fund is monies donated towards the costs of our Fundraiser who started towards the end of the last financial year. The balance was used towards the costs in this financial year.

11. COMMITMENTS UNDER OPERATING LEASES

At 31[st] August 2022, the charity had the following commitments under non-cancellable operating leases payable as follows:

Premises
Payments due:
Within one year		 2022
2021
£
£
-
20,000
-
20,000

12. TAXATION

The company is a Registered Charity and, under section 505(i) of the Income and Corporation Taxes Act 1988, is exempt from Corporation Tax on its charitable activities.

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