2020-08-31-accounts - Pure Leapfrog

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							PAGES
Members ofthe Board and professional	advisers
Trustees' report							2-13
Statement oftrustees' responsibilities							14
Independent auditor's report to the members		and trustees					15-17
Consolidated statement offinancial activities		(incorporating		the income and expenditure		account)	18
Consolidated balance sheet							19
Charity statement offinancial activities	(incorporating		the	income and expenditure	account)		20
Charity balance sheet							21
Consolidated cash flow statement							22
Notes to the financial statements							23-41

Registered	charity name	charity name	Pure Leapfrog
Charity number			1112249
Company	registration	number	05534395
Registered	office		7-14 Great Dover Street
			London
			SE14YR
Trustees			Simon Cordery
			Mark Henderson
			Michael Jampel
			Shelagh Kirkland
			Graeme Ludlow
			Sophie Pughe		(Appointed	01/02/2021)
Senior management		team	Claire Hanratiy	CEO	(Resigned	01/11/2020)
			Paul Gilligan	CEO	(Appointed	01/11/2020)
Auditor			Johnston Carmichael	LLP
			Chartered Accountants
			7-11 Melville Street
			Edinburgh
			EH3 7PE
Bankers			Barclays Bank PLC
			1 Churchill Place
			London
			E145HP

					Total	Total
					Funds	Funds
			Unrestricted	Restricted	2020	2019
		Note	Funds	Funds
				6
Income
Other trading activities		3	391,082	1,156,160	1,547,242	1,339,272
Donations		4	151,151	507,415	658,566	426,326
Charitable activities Investments		5 6	49,013 2 58D	35,021 6,169	84,034 8,749	35,351 20 679
Total income			593826	1,704.765	2.298591	1 821 628
Expenditure on
Raising funds Charitable activities		7 8	(471,924) ~192939	(1,232,601) ~374,357	(1,704,525) ~567296	(1,266,455) ~479440
Total expenditure			~664863	~7,606958	~2277,827	~1,745895
Net (expenditure}/income			(71,037)	97,807	26,770	75,733
Corporation tax charge		13	1,346		1,346	(5,555)
Transfers between	funds
Net movement in funds			(69,699)	97,815	28,116	70,178
Fund balances at
1 September 2019			91,276	198887	290163	219985
Total funds carried
forward			21,577	296 7D2	318279	290,103


		Note
Fixed assets
Tangible assets		14		49,348		52,183
Investments		15		33,742		138,624
				83,090		190,807
Current assets
Investments		16	16,794,184		19,929,354
Debtors		17	115,059		138,275
Cash at bank and in	hand		374,968		271,328
			17,284,211		20,338,957
Creditors: amounts	falling
due within one year		18	~77,974.847		20,067,298
Net current assets				269,670		271,659
Total assets less current
liabilities				352,760		462,466
Creditors: amounts	falling
due after more than	one
year		19		(34,481)		(171,949)
Deferred tax
Net assets				318279		290,163
Funds
Restricted income funds		21		296,702		198,887
Unrestricted income	funds	22		21,577		91278
Total funds				318,279		290,163

FOR THE YEA	R ENDED 3	1AUGUST	2020
					Total	Total
			Unrestricted	Restricted	Funds	Funds
		Note	Funds	Funds	2020	2019
Income
Other trading activities		3	19,360		19,360	5,744
Donations		4	151,151	507,415	658,566	431,326
Charitable activities		5	49,013	35,021	84,034	35,351
Investments		6	25 580	6,169	31.749	20 679
Total income			245,104	548,605	793,709	493,100
Expenditure on Charitable activities		8	~239440	~450798	~690238	~465613
Total expenditure			~239440	~450,798	~690238	~465613
Net income Transfers between	funds		5,664 ~8	97,807 8	103,471	27,487
Net movement in funds			5,656	97,815	103,471	27,487
Reconciliation offunds
Fund balances at
1 September 2019			2,461	203,887	206,348	178,861
Total funds carried
forward			8,117	301,702	309,819	206,348

					2020		2019
			Note
Fixed assets
Tangible assets			14		47,230		50,012
Investments			15		33,743		138,625
					80,973		188,637
Current assets
Investments			16	35,273		200,800
Debtors			17	80,775		107,227
Cash at bank and in		hand		292,434		162,669
				408,482		470,696
Creditors:	amounts	falling
due within	one year		18	(145,155)		(281,036)
Net current assets					263,327		189,660
Total assets less current
liabilities					344,300		378,297
Creditors:	amounts	falling
due after more than year		one	19		~34.491		~131,949
Net assets					309,819		206,348
Funds
Restricted	income funds		21		301,702		203,887
Unrestricted	income	funds	22		8,117		2,461
Total funds					309,819		206,348

					2020		2019
Net cash inflow from operating activities					125,795		8,074
Tax paid							5,424
Investing activities
Interest paid Interest received Purchase oftangible fixed	assets			(1,178,201) 1,158,656 ~3.448		(840,164) 843,653 ~4,086
Net cash oufflow from investing
activities					(22,993)		(597)
Financing activities
Loans provided to clients				(6,850,000)		(15,500,000)
Loans repaid from clients				10,970,891		12,151,175
New loan finance Repayment ofborrowings				6,850,000 ~70.970.053		15,500,000 ~1723,,217 56,,06696
Net cash inflow/(oufflow)		from
financing activities					838		(63,894)
Net increase/(decrease)	in cash
and cash equivalents					103,640		(50,993)
Cash and cash equivalents		at the
beginning ofthe year					271328		322 321
Cash and cash equivalents		at the
end ofthe year					374,968		271,328
Reconciliation ofnet movement			in funds to net cash		flow from operating	activities
						2020	2019
						8	8
Net movement in funds for	the reporting			period		28,116	70,178
Tax charge						(1,346)	5,555
Interest received						(1,158,656)	(843,653)
Interest paid						1,178,201	840,164
Depreciation offixed assets						6,280	3,153
Decrease in debtors Increase/(decrease) in creditors						23,216 49,984	137,321 ~204,644
Net cash inflow/(oufflow) from operating				activities		125,795	8,074

Group		Unrestricted	Restricted	Total Funds	Total Funds
		Funds	Funds	2020	2019
		E	E	E	E
Trading	activities	391,082	1,156,160	1 647,242	1 339272
		391082	1.156 160	1.547 242	1,339.272

Of the income.	total income from	other trading activities in	2020 E1,156,160	(2019:F	823,036) r	elated to	restricte
Charity		Unrestricted	Restricted	Total	Funds	Total	Funds
		Funds	Funds		2020		2019
		E	E		E		E
Trading	activities	19,360			19,360		5,744
		19,360			19,360		5,744

Group			Unrestricted	Restricted	Total Funds	Total Funds
			Funds	Funds	2020	2019
			E	E	E	E
Individual	donations		16,167	29,727	45,894	9,719
Gift aid			1,375		1,375	583
Corporate	donations		133,109	295,117	428,226	373,874
Government		grants		41,321	41,321
Philanthropic		grants	500	141,250	141,750	42,150
			151,151	507,415	658,566	426,326
Of the total		donations	in 2020 E507,415(2019:E316,352)related to		restricted income.
Charity			Unrestricted	Restricted	Total Funds	Total Funds
			Funds	Funds	2020	2019
			E	E	E
Individual	donations		16,167	29,727	45,894	9,719
Gift aid			1,375		1,375	583
Corporate	donations		133,109	295,117	428,226	373,874
Government		grants		41,321	41,321
Philanthropic		grants	500	141,250	141,750	47,150
			151 151	507415	658,566	431 326

Income from charitable act	Income from charitable act	ivities
Group and charity		Unrestricted	Restricted	Total Funds	Total Funds
		Fundsf	Fundsf	2020f	2019f
Consultancy	and events	21,500	35,021	56,521	20,848
Other income		27,513		27,513	14,503
		49,013	35,021	84,034	35,351

Of the income from charitable a Income from investments	ctivities in 2020,f3	5,021 (2019:fnil) wa	s restricted income.
Group	Unrestricted	Restricted	Total Funds	Total Funds
	Fundsf	Fundsf	2020f	2019f
Bank interest	85	76	161	62
Loan interest	2,495	6,093	8,588	20,617
	2,580	6,169	8,749	20,679
Ofthe income from investments	in 2020f6,169(2019:f14,865)related		to restricted income.
Charity	Unrestricted	Restricted	Total Funds	Total Funds
	Fundsf	Fundsf	2020f	2019f
Bank interest	85	76	161	62
Loan interest	2,495	6,093	8,588	20,617
Gift aid	23,000		23,000
	25,580	6,169	31,749	20,679

Costs o	fraising f	unds
Group			Unrestricted	Restricted	Total Funds		Total Funds
			Fundsf	Fundsf	2020f		2019f
Trading	subsidiary	costs	471,924	1,232,601	17D4525	,	1,.266 455
			471,524	1,232,661	1 7D4,525		1.266 455

Analysis ofcharitable	activities
Group		Unrestricted		Restricted
			Funds	Funds	Total	Total
			2020f	2020f	2020f	2019f
Purchase ofcarbon credits			35,309	59,716	95,025	45,235
Other operating costs			208	199	407
Grants and related projects			35,256	280,491	315,747	280,239
Support costs (note 9)			40,014	5,275	45,289	48,057
Loan interest			1,256	6,412	7,668	17,128
Staff and consultants			44,606	21,889	66,495	52,775
Governance costs (note 10) Reversal ofloan write off		36,663 ~373		375	37,038 ~373	36,006
			192,939	374,357	567,296	479,440
Of the total charitable	activities expenditure	incurred	in the year	f374,357(2019:f319,739)was		restricted.
Charity		Unrestricted		Restricted
			Funds	Funds	Total	Total
			2020f	2020f	2020f	2019f
Purchase ofcarbon credits			35,309	59,716	95,025	45,235
Other operating costs			208	199	407
Grants and related projects			35,256	280,491	315,747	280,238
Support costs (note 9)			35,621	5,275	40,896	47,431
Loan interest			1,256	6,412	7,668	17,128
Staff and consultants			111,295	98,330	209,625	52,775
Governance costs (note 10) Reversal ofloan write off		20,868 ~373		375	21,243 ~373	22,806
			239,440	450,798	690,238	465,613

Analysis ofsupport costs
Group	Unrestricted	Restricted
	Funds	Funds	Total	Total
	2020 F.	2020f	2020f	2019f
Office costs ITand infrastructure	3,610 1,116	1,515 95	5,125 1,211	1,896 602
Membership and subscriptions Accounting fees	2,860 10,120	900	2,860 11,020	1,721 27,697
Travel and subsistence	3,890	88	3,978	1,299
Bank charges	915	648	1,563	824
Marketing/advertising	11,223	2,029	13,252	10,865
Depreciation	6,280		6,280	3,153
	40,014	5,275	45,289	48,057

Analysis of
Charity	Unrestricted	Restricted
	Funds	Funds	Total	Total
	2020f	2020f	2020f	2019f
Office costs	3,610	1,515	5,125	1,896
ITand infrastructure	1,116	95	1,211	602
Membership and subscriptions Accounting fees	2,860 7,170	900	2,860 8,070	1,721 27,697
Travel and subsistence	3,890	88	3,978	1,300
Bank charges	915	648	1,563	824
Marketing/advertising	11,223	2,029	13,252	10,865
Depreciation	4 837		4,837	2,526
	35,621	5,275	40,806	41431

Analysis of
Group	Unrestricted	Restricted
	Funds	Funds	Total	Total
	2020 f	2020 f	2020f	2019f
Audit fees	25,295		25,295	22,000
Insurance costs	2,928		2,928	3,606
Trustee expenses Professional fees	8,440	375	8,815	7,200 3200
	36663	375	37,038	36,006

Chadty	Unrestricted	Restricted
	Funds	Funds	Total	Total
	2020 f	2020 f	2020f	2019f
Audit fees	9,500		9,500	8,800
Insurance costs	2,928		2,928	3,606
Trustee expenses Professional fees	8,440	375	8,815	7,200 3,200
	20,868	375	21,243	22 806

Net income/(expenditure) for t	he year
This is stated after charging:		2020	2019
		6	f'9
Depreciation		6,280	3,153
Auditor's remuneration
audit ofthe financial statements		25,295	22,000
corporate tax compliance		2,95D	2 DDD
Staff costs and emoluments
Total staff costs were as follows:
		2020	2019
			6
Wages and salaries —charitable	activities	66,495	52,775
Wages and salaries —raising funds		320,678	232,361
Social security costs		28,030	19,656
Pension costs		4256	2010
		419459	305 502

Taxation
		2020	2019
		E
Current tax
UK corporation tax on profits for the current period		(992)	5,347
Deferred tax
Origination and reversal oftiming differences	354 ~1,345		208 5,555
Tangible fixed assets
Group	Energy
	Generating	Computer
	Assets	equipment	Total
		6
Cost or valuation
At 1 September 2019	49,999	9,137	59,136
Additions Disposals		3,448 ~3527	3,448 ~3527
At 31August 2020	49,999	9,058	59,057
Depreciation
At 1 September 2019	2,294	4,659	6,953
Charge for the year Disposats	3,333	2,947 ~3.524	6,280 ~3524
At 31August 2020	5,627	4,082	9,709
Net BookValue
At 31August 2020	44372	4,976	49,348
At 31August 2019	47,705	4,478	52,183

14	Tangible fixed asse	ts Icontinued)
	Charity			Energy
				Generating	Computer
				Assets	equipment		Total
						E	6
	Cost or valuation
	At 1 September 2019			49,999	2,922		52,921
	Additions				2,055		2,055
	Disposals
	At 31August 2020			49,999	4,977		54,976
	Depreciation
	At 1 September 2019			2,294		615	2,909
	Charge for the year			3,333	1,504		4,837
	Disposals
	At 31August 2020			5,627	2,	116	7 766
	Net Book Value
	At 31August 2020			44372	2	858	47230
	At 31 August 2019			47,705	2,307		50,012
15.	Fixed asset investments
			2020	2019	2020		2019
			Group	Group	Charity		Charity
	Programme related
	investments		33,642	138,524	33,642		138,524
	Shares in subsidiary	company			1		1
	Shares in joint ventures		100	100	100		100
			33,742	138,624	33,743		138,625

											Capital &	Profitl(loss) for	Profitl(loss) for	Profitl(loss) for	Profitl(loss) for
											funds			the	year
											6				6
The company owns 100%ofthe				61 ordinary share				capital		of:
Leapfrog Finance Wales. (Company	Limited, Number		a company 07038343)			incorporated		in England and			6,286			(52,801)
SASC Bridge Finance Ltd			(formerly		Leapfrog Bridge Finance Limited)
(indirect) (09726408)											2,175				447
The principal activity		of Leapfrog		Finance Limited				is that of Fund Management Activities.				Turnover			for the
year was 6376,467 with expenditure					totalling 6430,615and					Corporation	Tax credit of61,347.
Leapfrog Finance	Limited,		owns	100% of the			1 ft ordinary share of				SASC Bridge Finance			Ltd (formerly
Leapfrog Bridge Finance			Limited),		a financial intermediation					company	incorporated in England			and	Wales.
Turnover for the year		was	61,479,405			with expenditure			totalling 51,478,958 and Corporation				Tax charge of
Fnil.
Current asset investments
						2020				2019	2020				2019
						Group				Group	Charity			Charity
Programme related
investments					16	794 184			19,929354		35273			200,800
					16,794,184				19,929,354		35,273			200,800
Programme related		investments			are	amounts	which		the	charity has	lent to third parties		in	line	with its
charitable objectives.		These investments are					repayable			in less than	one year.
Debtors
						2020				2019	2020				2019
						Group 6				Group 6	Charityf			Charity 6
Trade debtors						84,494				99,828	54,407			90,828
Gift aid recoverable						2,696				540	2,696				540
Other debtors						9,060				21,353
Amounts owed by	group
undertakings											4,863
Prepayments and	accrued
income						18,809				16,554	18,809			15,859
						115,059			138,275		80,775			107,227

Creditors: Amounts	falling due	within one year
		2020	2019	2020	2019
		Group 6	Group 6	Charity 6	Charity
Otherloans		16,599,198	19,417,955	40,523	169,403
Amounts due to group
undertakings					2,232
Trade creditors		34,749	16,899	27,727	7,369
Corporation tax		3,414
Taxation and social security		56,294	11,209
Other creditors		320,886	621,235	76 905	102032
		17,014,541	20,067,298	145,155	281,036
Creditors: Amounts	falling due	after more than	one year
		2020	2019	2020	2019
		Group 6	Groupf	Charity 6	Charity 8
Other loans		34,481	171,949	34,481	171,949
Creditors -other loans
Creditors include loans	which are	due for repayment	as follows:
		2020	2019	2020	2019
		Group 6	Group 6	Charity 6	Charity 6
Amounts repayable:
In one year or less		16,599,198	19,417,955	40,523	169,403
In more than one year	but not
more than two years		34,481	62,041	34,481	62,041
In more than two years but not
more than five years			46,162		46,162
In more than five years			63746		63,746
		16,633679	19589904	75,004	341,352

Group —20	19/20
		Balance at						Balance at
		1September						31August
		2019f	Incomef			Expendituref	Transfersf	2020f
British Airways
Carbon Fund		188,243	261,862			(259,884)		190,221
Carbon credits			65,260			(62,326)		2,934
Wamngton
Community	Benefit		100,049			(12,000)		88,049
BASEE			11,107			(11,115)	8
5G NT			12,063			(12,063)
REWIRE			43,543			(38,360)		5,183
SPEN			4,682			(4,682)
LBFloan interest			1,156,160			(1,156,160)
Leapfrog Lilypad			2,714			(2,714)
Leapfrog
Launchpad Big Society facility	Capital	2,938 7,706	41,250 6.075		(41,242) ~6,472			2,946 7369
		198,887	1704765	,	~,	7.606,958	8	296,702
Group —2018/19
		Balance at						Balance at
		1September 2018f	Incomef			Expendituref	Transfersf	31August 2019f
British Airways
Carbon Fund		153,109	265,518			(251,648)	21,264	188,243
Other corporate			9,202			(9,202)
donations
Carbon credit
purchases						(3,181)	3,181
M&E Grant		20,091	8,400			(8,400)	(20,091)
LBFloan interest			823,036			(823,036)
Leapftog
Launchpad			33,750			(30,812)		2,938
Big Society	Capital
facility		4,355	14,347			16,496	5,500	7,706
		177.555	1.154.253		~7,742,775			198,887

Charity —2	019/20
		Balance at				Balance at
		1 September 2019f	Incomef	Expendituref	Transfers F.	31August 2020f
British Airways
Carbon Fund		188,243	261,862	(259,884)		190,221
Carbon credits			65,260	(62,326)		2,934
Wanington
Community	Benefit	5,000	100,049	(12,000)		93,049
BASEE			11,107	(11,115)	8
5G NT			12,063	(12,063)
REWIRE			43,543	(38,360)		5,183
SPEN			4,682	(4,682)
Leapfrog Lilypad			2,714	(2,714)
Leapfrog
Launchpad Big Society facility	Capital	2,938 7,706	41,250 6075	(41,242) ,~6,412		2,946 7369
		203087	548,605	~450798,	8	301 702

Charity —2	018/19
		Balance at				Balance at
		1 September 2018f	Incomef	Expendituref	Transfersf	31August 2019f
British Airways
Carbon Fund		153,109	265,517	(251,647)	21,264	188,243
Other corporate			9,202	(9,202)
donations
Warrington
Community	Benefit
Fund			5,000			5,000
NG Fund				(3,181)	3,181
M&E Grant		20,091	8,400	(8,400)	(20,091)
Leapfrog
Launchpad			33,750	(30,812)		2,938
Big Society facility	Capital	4 355	14,347	~76,496	5,500	7,706
		177,555	336,216	~379.730	9,854	203,887

YEA	R ENDED 3	R ENDED 3	1AUGUST 2020	1AUGUST 2020
22.	Unrestricted		income funds
	Group-			Balance at			Corporation	Balance at
	2019/20			1 September 2019f	Incomef	Expendituref	Tax/ transfersf	31August 2020f
	General	Funds		91,276	593.826	~664.863	1,338	21 577
				91276	593,826	~664,863	1 338	21,577
	Charity—			Balance at				Balance at
	2019/20 General	Funds		1September 2019 f 2 461 2 461	Incomef 245 104 245 104	Expendituref ~239 440 ~242 440	Transfersf ~8 ~8	31August 2020f 8,117 8,117
	Group—			Balance at			Corporation	Balance at
	2018/19			1 September 2018f	Incomef	Expendituref	Tax/ transfersf	31August 2019f
	General	Funds		42 430	667375	~603 120	~15400	91 276
				42,430	667375	~603,120	~15409	91,276
	Charity—			Balance at				Balance at
	2018/19			1 September 2018 f	Incomef	Expendituref	Transfersf	31August 2019 f
	General	Funds		1,306 1,306	156,884 156,884	145,875 ~145.875	9,854 ~9.854	2461 2461
23.	Analysis	of net assets between funds
	Group —2019/20					Net	Long term
						current	liabilities/
					Tangible	assets/	Deferred
				Investmentsf	fixed assetsf	(liabilities)f	taxf	Totalf
	Restricted funds			33,642		297,541	(34,481)	296,702
	General	unrestricted
	funds			100	49,348	27,871		21 577
	Total Funds			33,742	49,348	269.670	~34,481	318,279

Analysi	s of net ass	ets between fund	s (continued)
Charity	—2019/20			Net
				current
			Tangible	assets/	Long term
		Investments	fixed assets	(liabilities)	liabilities	Total
		6	6	8	6	6
Restricted funds		33,642		302,541	(34,481)	301,702
General	unrestricted
funds		101	47,230	39,214		8 117
Total Funds		33,743	47,230	263.327	~34,487	309,819
Group	—2018/19				Long term
				Net	liabilities/
			Tangible	current	Deferred
		Investments	fixed assets	assets	tax	Total
		8	6	/'8	g	6
Restricted funds		138,524		232,312	(171,949)	198,887
General funds	unrestricted	100	52,183	39347	~364	91276
Total Funds		138,624	52,183	271.~59	~172,303	290,163
Charity	—2018/19			Net
				current
			Tangible	assets/	Long term
		Investments 8	fixed assetsf	(liabilities) 9	liabilities 6	Total 8
Restricted funds		138,524		237,312	(171,949)	203,887
General funds	unrestdicted	101	50.012	~47.652		2461
Total Funds		138,625	50,012	189.66D	~777,949	2D6,348