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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|
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|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||||||
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||||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|
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|||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|
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|||||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|||
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|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|||
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|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|||
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||||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|||
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|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|
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|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|
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