2023-03-31-accounts - Northern Learning Trust

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Contents			Page
Legal and Administrative		Information
Report ofthe	Trustees		3-10
Independent	examiner's	report to the Trustees
Statement of	Financial Activities		12
Balance Sheet			13
Statement of	Cash Flows		14
Notes forming	part ofthe	Financial Statements	15-26

aw and t	hroughout	hroughout	this report	are collectively refer	red	toa	s the	Tru	stees.
Charity	Number:			1120330
Company		Number:		06316736
Principal		Office:		Cheviot House
				Beaminster Way	East
				Newcastle upon	Tyne
				NE3 2ER
				www northemlearnin		trust. o		.uk
Trustees:				Anthony Brown		Chair
				Ann Wynn		Vice Chair
				Michael Ranson		Treasurer
				Roy Alexander
				Anne Delandre
				Natalie Maidment	(appointed			20 October 2022)
Secretary:				Liz Sheerin
Key management			personnel:	Gill Smith		Chief Executive
				Liz Sheerin		Business Manager
				Nicola Robinson		Operations			Manager
Bankers:				Lloyds Bank PLC
				102Grey Street
				Newcastle upon Tyne
				NE1 6AG
Accountants:				Azets Audit Services
				Chartered Accountants
				Bulrnan House, Regent Centre
				Newcastle upon Tyne
				NE3 3LS
Solicitors:				Ward Hadaway
				Sandgate House,
				102Quayside
				Newcastle upon Tyne
				NE1 3DX
Investment		Advisors:		UBS Wealth Management			(UK) Ltd
				2 StJames' Gate
				Newcastle upon Tyne
				NE4 7JH

			Notes	Restricted	Unrestricted	Yearto	Year to
				2023	2023	31.03.23	31.03.22
						Total	Total
						6	6
Income from:
Donations and grants			2	192,921	20,125	213,046	65,071
Other grants							22,433
Donations and Grants				192,921	20,125	213,046	87,504
Charitable activities			3	169,829	252,700	422,529	488,899
Investments					4,382	4,382	3,572
Total Income				362,750	277 207	639,957	579,975
Expenditure
Charitable activities			5	366,308	192,257	558,565	489,354
Total Expenditure				366,368	192,257	558,565	489354
Net income/(expenditure)				(3,558)	84,950	81,392	90,621
Other recognised
gains/(losses):
Profit/(loss) on revaluation		of			(21,501)	(21,501)	2,824
investments
Net income/(expenditure)				(3,558)	63,449	59,891	93,445
before transfers Transfers between	funds		13	1 278	~4,278
Net movement in funds				(2,280)	62,171	59,891	93,445
Reconciliation ofFunds:
Total funds brought	forward			42,860	560,352	603,212	509,767
Total funds carried forward				40,680	622,623	663,103	603,212

		Notes
			31.03.23	31.03.22
Cash flows from operating	activities
Net cash provided by operating activities			81,392	90,621
Adjustments to cash flows	from non-
cash items
Depreciation Investment income		4	164 ~4,382	197 ~3,572
			77,174	87,246
Working capital adjustments
(Increase)/decrease in debtors Increase/(decrease) in creditors		10 11	(59,156) 11,134	39,530 ~13,878
Net cash flows from operating	activities		29,152	113,698
Cash flows from investing	activites
Purchase oftangible fixed assets			(1,747)
Investment income received Purchase ofinvestments			4,382 ~4,382	3,572 ~3,572
Net cash flows from investing	activities		1,747
Net increase in cash and cash equivalents			27,405	113,698
Cash and cash equivalents	at 1 April		232,606	118,908
Cash and cash equivalents	at 31 March		260,011	232,606

				Restricted	Unrestricted	Year to	Yearto
						31.03.23	31.03.22
						Totalf	Total E
Education Endowment-Browne Solicitors					20,000	20,000	20,000
North ofTyne —Multiply	Programme			158,938		158,938
Garfield Weston							10,000
Veterans Foundation							6,560
Swire Charitable Trust							3,400
Cycling UK							1,140
Operation Veteran				500		500
SirJames Knott Trust				5,000		5,000
Armed Forces Covenant				7,630		7,630
Bernicia Community Fund				500		500
East Bedlington Parish Council				300		300
Northumberland County	Council Community			500		500
Hub Grant
Newbiggin Town Council	—Warm Space			100		100
Grant
YHN Community Fund —Women's			Snug				5,000
League of Helping Hands							250
Community Foundation				4,750		4,750	1,250
National Lottery Community		Fund		7,651		7,651	2,013
Durham County Council AAP				7,052		7,052	14,105
Church ofStJohn							603
Sundry donations					125		750
				192,921	20,125	213,046	65,071
Other Grants
HMRC Job Retention Scheme Grants							6,098
Covid Business Grants							16,335
				192921	20,125	213,046	87,504
For the year ended 31 March		2022		43,718	43,786

3. INCOME FROM	CH	ARITA	B	LE ACTI	VITIES
					Restricted	Unrestricted	Yearto	Yearto
							31.03.23	31.03.22
							Total	Total
								6
Lloyds Bank Foundation						27,250	27,250	26,896
Newcastle City Council						7,820	7,820
Ponteland High School						2,300	2,300	644
Northern Education Trust						1,104	1,104
Excelsior Academy						368	368
South Tyneside Council						5,600	5,600	840
North Of Tyne —Family	Learning					48,852	48,852
North ofTyne CLLD funded		by ESIF						36,446
Your Homes Newcastle-Newcastle			Learning					14,583
Hives™
Bridge Project					61,275		61,275	114,013
Good Things Foundation								3,920
Education Development	Trust					6,164	6,164	1,391
North ofTyne Working	Homes funded			by ESF		76,414	76,414	58,635
New Start —Karbon Homes						11,350	11,350	4,890
Bernicia —Northumberland		Learning		Hives™	50,342		50,342	42,391
Northumberland County	Council Housing							14,231
Durham County Council	LINKCD					45,326	45.326	50,624
Bernicia —Durham LINKCD		Hive Project			7,482		7,482	17,135
Sodexo - Transforming	Rehabilitation							8,605
DWP Prison Leavers						20,090	20,090	54,000
Pioneering Care Partnership					50,730		50,730	39,655
Sundry income						62	62
					169,829	252,700	422,529	488,899
For the year ended 31 March 2022					243 TDL	244,995

INVESTMENT INCOME
	Restricted	Unrestricted	Yearto	Yearto
			31.03.23	31.03.22
			Total	Total
			6	6
Dividends		4,382	4,382	3,572
		4,382	4,382	3 572
Forthe year ended 31 March 2022		3,572

			Restricted	Unrestricted	Unrestricted	Year to	Year to
			provision	provision of	Governance	31.03.23	31.03.22
			efservices	services		Total	Total
				E	6
Costs directly allocated to
activities
Staff costs			284,575	140,753		425,328	385,484
Supplies/Resources			36,931	12,452		49,383	29,862
Recruitment			359	461		821	1,164
Travel			5,018	1,637		6,655	3,431
Volunteers			791	385		1,176	1,520
Depreciation				164		164	197
			327,674	155,852		483,526	421,658
Support costs apportioned		to
activities
Premises			16,016	4,003	588	20,607	22,230
Staff costs			15,016	10,288	14,401	39,705	30,195
Resources			3,770	1,025	141	4,935	5,491
Communications			3,832	2,285	180	6,297	6,643
Accountancy	and other services				3,300	3,300	3,000
Legal and Professional					195	195	137
			366,308	173,453	18,804	558,565	489,354
For the year	ended 31 March
2022			303,138	169,102	17,114

6. NET INC	6. NET INC	OME/(EXPENDITURE) FOR THE YEA	OME/(EXPENDITURE) FOR THE YEA	R
This is stated		after charging		Yearto 31.03.23	Year to 31.03.22
				Total	Total
Depreciation				164	197
Independent	examiner's		fees	3,300	3000
7. STAFF	COSTS AND NUMBERS
				Yearto	Yearto
				31.03.23	31.03.22
				Total	Total
					E
Staffcosts comprise:
Salaries				419,853	378,611
Social Security costs				27,593	22,487
Pension				17,587	14,581
				465,033	415673

Trust was as f	ollows:
Chief Executive		1	1
Charitable activities		12	12
Administration	and support	2	2
		15	15

8. FIXEDASS	ETS
				Office
			Equipment
Cost
At 1 April 2022				5,543
Additions in the year				1,747
Disposals				(3,403)
At 31 March 2023				3,887
Depreciation
At 1 April 2022				5,428
Charge for the year					164
Eliminated on disposals				(3,403)
At 31 March 2023				2,189
Net Book Value
At 31 March 2023				1,698
Net BookValue
At 31 March 2022					115
9. INVESTMENTS
			At			At
			31.03.23			31.03.22
			Total			Total
			E			8
Investment in subsidiary				1		1
Other investments	(at market value)		324,518			341,637
Cash held for reinvestment				111		111
			324,630			341,749
Reconciliation of	other investments:
Investment value at 1 April 2022			341,637
Additions: Income	reinvested		4,382
Net loss on revaluation			(21,501)
Investments value	at 31 March 2023		324,518
All investments shown above are		held at market valuation.
Analysis ofother	investments	at market value:	At 31.03.23			At 31.03.22
			Total			Total
			8
Asset Allocation Funds			324,518			341,637

				Year to	Year to
				31.03.23	31.03.22
				Total f	Total f
Profit for the year
Capital	and Reserves			31	31
10.	DEBTORS
				At	At
				31.03.23	31.03.22
				Totalf	Total f.
Trade	debtors —contract income receivable			132,499	73,205
Other	debtors and	prepayments		2,425	2,563
				134,924	75,768
11,	CREDITORS: amounts		falling due within one year
				At	At
				31.03.23	31.03.22
				Totalf	Totalf
Taxation and social security				8,569	6,815
Other creditors and		accruals		25,664	13,097
Deferred income				23,896	27,083
Owed	to subsidiary	company		31	31
				58,160	47,026
Reconciliation ofdeferred income:
Deferred income at 1 April 2022				27,083
Received Utilised				80,126 ~83,313
Deferred income at 31 March 2023				23,896

2. ANALYSIS OF NET ASS	ETS BETWEEN	FUNDS
	General	Designated	Restricted	Total
	Funds f	Fundsf	Funds f	Funds f
Tangible fixed assets	1,698			1,698
Investments	245,409	79,221		324,630
Net Current Assets	263,685	32,510	40,580	336,775
Net assets at 31 March 2023	510,792	111,731	40,580	663,103

		At	Incoming	Outgoing	Transfers	At
		01.04.22	Resources	Resources	&Other	31.03.23
					Gains/
				8	(Losses) f	8
Restricted Funds:
North ofTyne Multiply Programme			158,938	(142,739)		16,199
Veterans Cycle Project		7,483	13,130	(13,114)		7,499
Bernicia Community Fund		614	500	(552)		562
Learning Hives™Support	Fund	527	900	(561)		866
YHN Community Fund		3,109		(3,198)	89
SoR Skills Northumberland	Project		12,401	(12,442)	41
Soft Skills Durham Project		3,395	7,052	(10,662)	215
Tutor Teaching resources	fund	1,207		(165)		1,042
Newbiggin Town Council		130		(57)		73
Bridge Project		6,485	61,275	(63,258)		4,502
Northumberland Learning	Hivesra	5,655	50,342	(56,650)	653
Durham Learning Hive~		14,255	7,482	(11,900)		9,837
Community Resilience Project			50,730	51,010	280
Total Restricted		42,860	362,750	(366,308)	1,278	40,580
Total Unrestricted (Note 14)		560,352	277,207	192,257	22,779	622,523
TOTAL		603,212	639,957	(558,565)	(21,501)	663,103