2024-03-31-accounts

NORTHERN LEARNING TRUST (a company limited by guarantee) Trustees Annual Raport and Financial Statements for the Year Ended 31 March 2024 Charity No: 1120330 Company No: 06316736 •• Northern Learning Trust

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

NORTHERN LEARNING TRUST REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2024 Legal and Administrative Infonnatlon The Directors of the charitable company (the charity) are its Trustees for the purposes of charity law and throughout this report are collectively referred to as the Trustees. Charity Number.. 1120330 Company Number" 06316736 Principal Office.. Cheviot House Beaminster Way East Newcastle upon Tyne NE3 2ER www.northernleamin trust.or Trustees: Anthony Brown Ann Wynn Michael Ranson Roy Alexander Anne Delandre Natalie Maidment Melanie Bear (appointed 18 January 2024) Jeannie Mcmillan (appointed 18 January 2024) Chair WI￿ Chair Treasurer Secretary: Liz Sheerin Key management personnel: Gill Smith Liz Sheerin Nicola Robinson Chief Executive Business Manager Operations Manager Bankers: Lloyds Bank PLC 102 Grey Street Newcastle upon Tyne NE16AG Accountants" Azets Audit Serrfices Chartered Accountants Bulman House, Regent Centre Newcastle upon Tyne NE3 3LS Solicitors.. Ward Hadaway Sandgate House, 102 Quayside Newcastle upon Tyne NE13DX Investment Advisors.. Rathbone Investment Management Earl Grey House 75-85 Grey Street Newcastle upon Tyne NE16EF

NORTHERN LEARNING TRUST REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2024 Aims and Objectives 1.1 Purpose and Aims The purpose of the Trust as set out in the objects contained in the company's Memorandum and Articles of Association is to: advance learning including literacy, numeracy and communication skills across the North East of England. The Trust has the aim of contributing to the quality of life of the people across the North East, by increasing skills, confidence and self-esteem through a range of supportive and personalised programmes. These include Functional Skills, Employability Skills, ESOL. Alternative Education. programmes forthose Not in Education, Employment or Training (NEETS). Family Leaming and Parenting. Learning for Health and Wellbeing, Mentoring and first step engagement activities. The unique selling point of the Trust is the ability of staff to engage. motivate and retain the hardest to reach individuals, by delivering unique, flexible programmes of learning and enterprise in the heart of our communities in the North East. The Trust aims to improve skill levels of residents and additionally give them Confiden￿ to.. seek further education, training, employment and enterprise. support their children's learning. support their communrties in learning. improve their mental health and well-being through leaming. 1.2 Ensuring the Work Delivers Our Aims The Trust reviews its aims. objectives and activilies each year and updates both the Business and Delivery Plans to reflect the decisions taken. The review looks at achievements and outcomes of the work over the previous 12 months. Additionally, it looks at the success of each key activity and the benefits brought to the groups of people the Trust was set up to help. It also helps us ensure the aim, objectives and activities remain focussed on the stated purpose. The Trustees have taken account of the guidan￿ contained in the Charity Commission's guidance on Public Benefit when reviewing our airns and objectives, and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives. 1.3 The Focus of Our Work The main objectives for the year were to corrtinue to work to build relationships with current and potential new partners and explore new markets to develop and deliver services. Key areas of work induded: continue lo maintain and develop new Learning Hives across the region. explore new opportunities for partnership working within housing health and wellbeing and other services. develop and expand the reach of our specialist mentoring services. market and deliver our Family and Community Learning offering. further develop our work in Criminal Justice. expand and grow our support for young people at risk of disengaging from mainstream education.

Adult and Community Services We maintained 6 Learning Hives across the region and continued to deliver our ServI￿S in Newcastle, Northumberland and County Durham, in partnership wilh Social Housing providers and other VCSE organisations. We secured continuation funding from the North of Tyne Combined Authority. to deliver Family Learning in schools as part of the Child Poverty Prevention Programme, and Family and Community maths provision under the Multiply strategy. We also delivered Family maths provision under the Multiply strategy in South Tyneside and County Durham and continued delivery on the National Careers Service, providing Information Advice and Guidance to learners. TM We commenced delivery on the Solid Foundations VCSE partnership in Northumberland. Funded through the UK shared prosperity fund. Solid Foundations supports those furthest from the jobs market to overcome the barriers preventing them making progress towards employment. Mentoring Services We continued to work in partnership with VCSE organisations and Tees. Esk and Wear Valleys NHS in County Durham, lo provide community-based mentoring and psychological intervention support for those impacted by Covid 19. Our Veteran8' Cycle Club in Newcastle continued to provide mentoring ServI￿S for former members of the Armed Forces. supporting those with mental and physical health issues and combalting social isolation. Through the Thriving TogetherVCSE partnership in Northumberland, we launched a pilot project providing a Health Literacy Mentor to support high intensity users of frontline NHS services, to improve and develop their skills in managing their health and wellbeing. Criminal Justice Services Our Reaching Out project continued lo support people with an offending history, providing intensive mentoring support enabling service users to negotiate life after offending, offering stability and helping them to avoid reoffending. During the reporting period we focussed on those released on licence whilst serving Senten￿s of Imprisonment for Public Protection. Children and Young People's Service We have delivered intensive one-to-one support, to enable young people not in education or at risk of disengaging from education. to continue leaming whilst out of school and re-engage in mainstream education or training. 1.4 How Our Activities Deliver Public Benefit The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objecttves and in planning future activities. The charitable objectives are also set out in order to provide a clear and demonstrable public benefrt. All our charitable activities focus on increasing the learning and skills levels of individuals, thereby providing the skills, confidence and self*steem ne￿SSary to enable them to improve their quality of life. By providing these activtties they further our charitable purpose for the public benefit. 1.5 Who Used and Benefitted from Our Services? The objects of the Trust and the funding we re￿1ve limits the area in which we are able lo provide services to the North East of England.

The North East economy continues to lag behind the national averages, particularly in employment, skills and earnings. Significant gaps in terms of education, achievement and employment continue to exist between different areas and the challenge is to achieve active and resilient communities in a sustainable economy. Because economic inactivity and exclusion levels are above the national average, the North East Local Enterprise Strategic Economic Plan identifies the need to create opportunrties for people and to improve prosperity and inclusion. To achieve this, it is ne￿SSary to ensure individuals have the Skills and competencies to take up available employment opportunities. The funding we receive is targeted at families and individuals with low level skills, low confiden and low aspiration. Most of our work is in the most deprived areas with the highest level of need. All services are provided free of charge to leamers. Further information about who benefits directly from our services is explained in the analysis of achievements and performance. 1.6 Fundraising The charity is required to report how it deals with fundraising from the public. The charity does not use a professional fundraiser or commercial participator to raise funds. Any monies raised direct from the public follows all guidelines set out by the Charity Commission and UK law in every respect. We respect the privacy and contact preferences of all public donors. 2. Achievements The main areas of charitable activity are the provision of a range of bespoke programmes and sessions offering skills development and mentoring to those individuals who have the lowest levels of skills and confidence, and who are least likely to seek support from the more formal statutory agencies. 2023-2024 saw a further increase in demand for our seNices. During this year we supported over 900 people to improve their functional and digital skills, develop employability skills, improve their mental health and wellbeing, support their children's learning and development and achieve qualifications to support Iheir progress towards employment and financial stability. These activities and the achievements are described below. 2.1 Adult and Community Services Learning Hives A Learning Hive provides community-based teaching, learning and support for people from hard-to-reach neighbourhoods with high levels of inactivity, unemployment and low levels of social capital. From agreed community venues such as vacant residential properties or community centres, specialist Community Engagement Tutors work with learners to develop new skills for learning and working in their neighbourhoods. At the end of this reporting period, six Learning Hives were maintained across the region. We delivered the Learning Hives- with support from the North of Tyne Combined Authorty, the UK Shared Prosperity Fund and Bemicia Housing, providing support with Employability Skills, Literacy and Numeracy, ICT, Volunteering and Leaming for Well-Being, for those experiencing the greatest barriers to progression. TM Multiply With the continuation of our Multiply contract through the North of Tyne Combined Authority, we worked with a further 220 learners to improve their skills in maths and their ability to support their children's learning. We worked with a further 50 leamers in South Tyneside and 25 in County Durham under the Multiply strategy.

Family Learning Through the North of Tyne Combined Authority's Child Poverty Prevention Programme, we have worked in 32 schools across the region, engaging and supporting 742 families in Family Learning programmes designed to improve skills, increase parental involvement in children's education, build resilience and support financial inclusion. 2.2 Mentoring Services County Durham Resilience Service The partnership established between VCSE organisations and Tees, Esk and Wear Valley NHS in response to the pandemic, has continued tts work in County Durham but with a broader rernit. Building on the success of the Covid Resilien￿ project, the partnership now works within the Mental Health Transformation Programme providing mentoring and basic psychological interventions to people experiencing low-level mental health difficulties. Support workers and Peer Mentors work across the county to provide community-based support and activities. Veterans. Cycle Club Delivery of the Veterans, Cycle Club has continued to provide activities, social and psychological support for former members of the amied services. Responding to increased demand, we have introduced additional activities to the club such as walking and healthy cooking sessions to ensure that those unable lo cycle are able to participate and receive support. In 2023-2024. 14 amied forces veterans received support from the project. 2.3 Criminal Justlce Servlces Reaching Out Project We have continued to deliver our Reaching Out Project for service users with an offending history, offering intensive mentoring support to help people stabilise, reintegrate to life outside of prison and prevent reoffending. In 2023-2024, our focus has been on supporting those released on licence whilst serving Sentences of Imprisonment for Public Protection {IPPs). 2.4 Children and Young People Services Special Education Needs Referrals to our out of school provision of intensive, one-to-one support for young people in Newcastle have remained consistent this year. We have noticed an increase in referrals for those unable to attend school due to anxiety and mental ill health. 3. Consultancy. Research and Training The Trust continues to offer consultancy, training and research services to other organisations. 4. Financial Review During the year we have secured additional grants, contracts and donations to achieve strong growth in income of 7% from last year. To continue to deliver our seniices we have employed additional tutors, which together with salary increases has led to staff costs in the same period increasing by 14% and costs overall increasing by 11 %. We report a net surplus of £89,348, including an increase of £25,557 in the value of Investments. The increase in reserves is highlighted in our accounts for the year. We expect funding levels to continue to be strong throughout 2024125 and have been pleased so secure funding to enable the continued delivery of most of our services. We continue to seek new funding opportunities. We have updated our business plan and will continue to invest and develop new relationship8, markets and innovative programmes to ensure the future sustainability of the organisation.

Trustees and managers continue to review and regularly monitor progress against the business and delivery plans. 5. Principal Funding Sources The Trustees are grateful to the following for funding the work of the Trust during the year: Armed Forces Covenant Newcastle City Council Asda Foundation Northern Education Trust Bernicia North of Tyne Combined Authority Browns Solicitors Northumberland County Council Co-op Pioneering Care Partnership Cycling UK UK Shared Prosperity Fund Durham County Council Sir James Knott Trust Education Development Trust South Tyne8ide Council Ex￿lS1Or Academy Sunderland University Newbiggin Town Council Their support has been essential in allowing the Trust to continue to deliver ServI￿S across the North East. 6. Investment Policy The strategic aims and development of the Trust specify that the Trustees should ensure the best use of reserves over the long term showing due diligence and an agreed level of risk averseness. The Trustees have adopted a policy of investing a proportion of reserves with Rathbone Investment Management. The investment objective is to create a balance between capital growth and income, which over the long term aims to maintain the real value of the assets. The Investment Policy is kept under regular review. 7. Pay Policy for Key Management Personnel The board, who give their time freely and no trustees re￿iVed remuneration in the year, have considered who the Key Management Personnel (KMP) of the charitable company are. as noted in the Reference and Administration section. Together with the board, these KMP are those in charge of directing and controlling, running and operating the activities of the charitable company on a day to day basis. The pay of the KMP is reviewed annually. The Twstees benchmark against pay levels of other charities and similar organisations within the sector and the region. Pay levels are set using this infomiation together with budget and forecast information, ensuring that the charitable company can afford any proposed increases. The Board of Trustees then consider any uplift to remuneration. Reserves Policy and Going Concern The calculation of free reserves is based on the definition included in the charity statement of recommended practice {SORP), which provides recommendations for accounting and reporting for charities. The Trustees have examined the requirements of the charitable company to hold free reserves - those reserves not invested in tangible fixed assets, excluding long term liabilities, or designated or restricted for a purpose. This included a review of risks, expected income sources and future plans and commitments. Resulting from this. the trustees consider it appropriate to increase maintained unrestricted free reserves to a level equivalent to six months, operating costs which equates to a range of £330.000 to £350,000. At the year end, free reserves were £292.120 (2023: £263,685). As part of the reseNes policy the trustees have designated the following funds: Future Cost Reserve of £97,237 (2023: £79,221) and Development Fund of £48,500 (2023: £32.510). Narrative for these funds can be found in note 14 of the financial statements.

The trustees recognise that the charity needs to generate surpluses in order to maintain their target level of free reserves. The need for the charity's services continues to grow and therefore the demand on future resep4es will also be greater, hen￿ the charity continues to require future funding towards its unrestricted reserves and the support of its funding partners. The Trustees have prepared a budget and cash flow forecast and have concluded that the charity continues to be a going concem for the foreseeable future. On that basis they have continued to adopt the going concern basis when preparing the financial statements. 9. Plans for Future Periods We will continue to work to build relationships with cUr￿nt and potential new partners and explore new mathets to develop and deliver services. The Trust will focus on the following areas.. continue to maintain and develop new Learning Hives- across the region. explore new opportunities for partnership working wrthin housing, health and wellbeing and other servI￿s. develop and expand the reach of our specialist mentoring services. market and deliver our Family and Community Leaming offering. develop our work in criminal justi￿. expand and grow our support for young people at risk of disengaging from mainstream education. continue to support and develop our workforce to enable them to meet the challenges presented by a dynamic and changing environment. 10. Structure, Governance and Management 10.1 Governing Document Northern Leaming Trust is a charitable company limited by guarantee. It was registered as a charity on 24 February 1999 and incorporated on 18 July 2007. The company was established under a Memorandum and Articles of Association which established the objects and powers of the charttable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount of £1.00. 10.2 Appointment of Trustees As set out in the Memorandum and Articles of Association the Board shall consist of no more than 12 Trustees and no less than 3. At each Annual General Meeting a quarter of the Trustees retire from office. the longest serving retiring by rotation. A retiring Trustee is eligible for re- election. No Trustee may serve MO￿ than 8 years without at least a 1 year break unless they are unanimously requested to do so by members. Mr Anthony Brown and Ms Ann Vvynn retire by rotation and offer themselves for re-election. l*Vhen considering the appointment of new Trustees, the Board has regard to specialist or professional skills of the existing Trustees and any requirement for additional skills. In the event of any particular skills being lost through retirement or resignation, suitable individuals are recruited through an advertisement and selection prO￿sS for appointment to the Board. All Trustees give their time voluntarily and received no benefits from the charty. No Trustees claimed expenses during the year. 10.3 Trustee Induction and Training New Twstees are invited to meet with the Chair and Chief Executive to familiarise themselves with the Trust and the context in which it operates. This covers: the obligations of Trustees. the main documents which set out the operational framework for the Trust.

resourcing and the current financial position. future plans and objectives. risks facing the Trust. Trustees also receive an induction pack of internal information together with publications from the Charity Commission. The Chief Executive organises opportunrties for the Trustees to become familiar with the work of the Trust by visiting the different projects and meeting the staff. Trustees are also invited to attend issue specific focus groups or projects. 10.4 Organisation The Board of Trustees has responsibility for the strategic direction and policy of the charity. It meets quarterly and when necessary working groups are constituted. The Chief Executive is appointed by the TrUSt￿S to manage the day to day operations. To facilitate effective operations, the Chief Executive has delegated authority, within the temis of delegation approved by the Trustees, for operational matters including finance, employment and service delivery. 10.5 Rlsk Management The Trustees have a risk management strategy that comprises.. monitoring the strategic, business and operational risks the charity may face, including safeguarding and Health & Safety, with Key Risks documented in an organisational Risk Register that is reviewed regularly. the establishment of systems and procedures to mitigate identified risks. the implementation of systems and procedures designed to minimise any potential impact on the Trust should they materialise. Every 3 years the organisation undertakes a strategic review. Each year the organisation produces updated Business and Action Plans which are fully consulted wilh Trustees, management and staff teams. They are very much working documents which recognise the need for diversification, development and expansion of the Trust's core business. A key element in the management of financial risk is the setting of a Reserves Policy and its regular review by Trustees and the managed investment of its reserves. 10.6 Going Concern The Trustees recognise that Northem Learning Trust is currently dependent on income from a variety of sources in order to sustain its activities. All projects are currently funded, most until at least March 2025, and are operating effectively. We are experiencing increasing demand for our services and the Senior Management Team and Trustees are working to secure ongoing funding to deliver the Trust's future strategic aims. The Trustees have prepared a budget and cashflow forecast and have concluded that the charily continues to be a going concem for the foreseeable future. On that basis they have continued to adopt the going Goncem basis when preparing the financial statements. 10.7 Statement of Trustees. Responsibilities The Trustees (who are also the directors of Northem Learning Trust for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿). Cornpany law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP.

make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping proper accounting records that di￿10se with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure the financial statements comply with the Companies Act 2006. The Trustees 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. 10.8 Independent Examiner Simon Brown BA ACA DChA of Azets Audit servI￿s has been re-appointed as independent examiner for the ensuing year. 10.9 Small Company Provisions This report has been prepared in accordan￿ with the provisions applicable to companies entitled to the small companies exernption. Thi8 report was approved by the Board on 17 July 2024 and signed on its behalf by.. A Brown Chair 10

NORTHERN LEARNING TRUST INDEPENDENT EXAMINER'S REPORT TO THE COMPANY'S MEMBERS I report to the charity Trustees on my examination of the accounts of the Charitable Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Charitable Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordan￿ with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Charitable 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 Charitable Company'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 examinerfs statement Since the Charitable Company's gross income ex￿eded £250,000 your examiner must be member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am member of the Institute of Chartered Accountants in England and Wale8 (ICAEW) which is one of the listed bodies. I have completed my examination. I confirrn 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 Charitable 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 (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no Gon￿mS 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. Simon Brown BAACA DChA Azets Audit Services Chartered Accountant Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS Date...... lets Audit Services is a trading name of Azets Audit Services Limited

NORTHERN LEARNING TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Notes Restricted 2024 Unrestricted 2024 Year to 31.03.24 Total Yearto 31.03.23 Total Income from: Donations and Grants 242.861 20.600 263,461 213,046 Charitable activities 157.692 254,045 411,737 422,529 Investment8 10,454 10,454 4.382 Total Income 400,553 285.099 685,652 639,957 Expenditure Charitable activities 385,100 236,761 621,861 558,565 Total Expenditure 385,100 236,761 621,861 558,565 Net income 15,453 48.338 63,791 81,392 Other recognised gainslllosses)." ProfiU{loss) on revaluation of investments 25.557 25.557 (21,501) Net income before transfers Transfers between funds 15.453 73,895 89,348 59,891 13 166 166 Net movement in funds 15.619 73.729 89,348 59,891 Reconciliation of Funds: Total funds brought forrtard 40.580 622,523 663,103 603,212 Total funds carried forward 56,199 696,252 752,451 663,103 The statement of financial activities includes all gains and losses in the year. All incoming reSoUr￿S and reSoUr￿S expended derive from continuing activities. 12

NORTHERN LEARNING TRUST Company Registration Number: 06316736 BALANCE SHEET AS AT 31 MARCH 2024 Notes 31.03.24 31.03.23 Fixed Assets Tangible assets Investments 1,116 354,752 1,698 324.630 355,868 326,328 Current Assets Debtors Short term investments Cash at bank and in hand 10 77,860 154.124 210,557 134,924 260,011 442,541 394,935 Creditors: amounts falling due within one year 45,958 58,160) Net Current Assets 396,583 336,775 NET ASSETS 12 752,451 663.103 Funds of the Charlty Designated funds Revaluation funds General funds 14 14 14 145,737 65,259 485,256 111,731 39,702 471,090 Total unrestricted funds Restricted funds 13+14 696,252 56,199 622,523 40,580 TOTAL 13 752.451 663,103 Forthe year ending 31 st March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Trustees, responsibilities: -The members have not required the charity to obtain an audit of its financial statements for the year in question in accordance with section 476" -The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statemenls have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the Directors and signed on their behalf by.. A Brown. Chair and Director 13

NORTHERN LEARNING TRUST Company Registration Number: 06316736 STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31 MARCH 2024 Notes 31.03.24 31.03.23 Cash flows from operating activities Net cash provided by operating activities 63,791 81,392 Adjustments to cash flows from non- cash items Depreciation Investment income 582 10.454 164 4,382 53,919 77,174 Working capital adjustments (Increase)Idecrease in debtors Increase/(decrease) in creditors 10 11 57,064 12.202L (59.156) 11,134 Nel cash flows from operating activities 98,781 29,152 Cash flows from Investing activities Purchase of tangible fixed assets Investment income received Purchase of investments (1,747) 4,382 4,382 10,454 4,565 Net cash flows from investing activities 5,889 1,747 Net increase in cash and cash equtvalents 104,670 27,405 Cash and cash equivalents at 1 April 260,011 232,606 Cash and cash equivalents at 31 March Short term investments Cash at bank and in hand 154.124 210,557 260,011 364,681 260.011 14

NORTHERN LEARNING TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES 1.1 General Information The charity is a private company limited by guarantee. registered in England and Wales and a regislered charity in England and Wales. The address of the registered office is Northern Learning Trust, Cheviot House, Beaminster Way East, Kingston Park, Newcastle upon Tyne, NE3 2ER. 1.2 Accounting Basis These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 (FRS 102) (Charities SORP (FRS 102) effective 1 January 2019) and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, except for investments which are included at market value. The functional Gurrency of the charity is Sterling. Disclosure exemptions The entity satisfies the criteria of being a qualifying entty as defined in FRS 102. In accordance with th8 Charities SORP (FRS 102) the charity has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues of FRS102, in full to all of its financial instruments. 1.3 Preparation of the accounts on a going concern basis Afterfluctuating income in previous years, the Trust's sources of inGome have become more stable. The Trustees have prepared a budget and cash flow forecast and have concluded that the charity continues to be a going concern for the foreseeable future. Therefore, the Trustees are of the view that the Gharitable company has sufficient resources to maintain its activities for at least the next 12 months (from the date of approving the financial statements). As a result, the charitable company's financial statements have been prepared on a going concern basis. 1.4 Income Income includes amounts received under contract or where entitlement to grant funding is subject to specific perfomiance conditions is recognised as earned {as the related goods or ServI￿S are provided). Donations and grant income is recognised where there is entitlement, receipt is probable and the amount can be measured with sufficient reliability. In the event that a donation or grant is subject to conditions that require a level of performance before the charitable company is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met. or the fulfilment of those conditions is wholly within the control of the charitable company and it is likely that those conditions will be fulfilled in the reporting period. 1.5 Invesknent income Income from investments is included in incoming resources once the dividend is declared and notification has been re￿iVed of the dividend due. This is nomially upon receiving notification by our investment advisor of the dividend. Interest on funds held on deposit is included upon notrfication of the interest paid or payable by the bank. 15

1.6 Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charitable company to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities. Note 5 contains further information on the basis for allocation. Irrecoverable VAT is charged against the expenditure heading for which it was incurred. 1.7 Allocation of support and governance costs Support costs have been differentiated between governan￿ costs and other support costs. Governance costs comprFse all costs involving the public accountability of the charitable company and its compliance with regulation and good practice. These costs include costs related to the independent examination and other costs with an apportionment of overhead and support costs. Governance costs and support costs relating to charitable activities have been apportioned as set out in Note 5. 1.8 Realised and unrealised gains and losses All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the differen￿ between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. 1.9 Pension The charitable company makes employer contributions to a defined contribution pension scheme on behalf of its employees. Contributions are included as part of staff costs within support and govemance costs and allocated to the funds of the Gharitable company on the basis outlined in Note 5. 1.10 Fund Accounting Restricted funds are maintained in accordance with the restrictions placed upon monies received from the donor. Unrestricted funds are the free funds of the charitable company to use at the discretion of the Trustees in the furtherance of the charitable company's objectives. Unrestricted funds include designated funds where the Trustees. at their discretion, have created a fund for a specific purpose. 1.11 Tangible Fixed Assets All fixed assets are initially recorded at cost. Items under £500 in value are not capitalised. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over the expected useful economic lives as follows.. offi￿ Equipment - 3 years straight line basis The carying values of tangible fixed assets are reviewed for impairment periodically if events or changes in circumstances indicate the carrying value may not be recoverable. 16

1.12 Investments Investments are initially recognised at their transaction value and subsequently measured at their market value as at the balance sheet date using closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. Investments are split between fixed and current assets on the basis of review by the Trustees of cash requirements over the coming year. The charitable company does not acquire or use put options, derivatives or other complex financial instruments. 1.13 Investment in subsidiaries Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the statement of financial activities. 1.14 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.15 Cash at bank and in hand Cash at bank and in hand includes cash and short temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.16 Creditors and provisions Creditors and provisions are recognised where the charitable company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to Settle the obligation can be measured or estimated reliably. Creditors and provisions are nomally recognised at their settlement amount after allowing for any trade discounts due. 1.17 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 1.18 Operating Leases Rentals payable under operating leases are charged in the income and expenditure account on a straight line basis over the lease term. 1.19 Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates andjudgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. During the year, no key judgements or estimates have been made within the financial statements. 17

DONATIONS AND GRANTS Restrlctad Unrestricted Year to 31.03.24 Total Year to 31.03.23 Total Education Donats'on - Browns Solicitors North of Tyne- Multiply Prograrnme Gycling UK Operation Veteran Sir James Knott Trust Armed FOr￿S Covenant Bernicia Community Fund East Bedlington Parish Council Northumberland County Council Community Hub Grant Newbiggin Town Council - Warm Space Grant Asda Foundation Cmp Local Community Fund Community Foundation National Lottery Community Fund Durham County Council AAP Northumberland County Council - Health Inequalities Fund Sunderland University Sundry donations 20,000 20,000 215,098 360 20,000 158,938 215.098 360 5(Kt 5,000 7,630 500 300 5,000 402 5,000 402 500 100 400 1,690 500 100 400 1,690 500 100 4,750 7,651 7,052 3,508 3.508 15,803 15,803 600 600 125 242,861 20,600 263,461 213,046 For the year ended 31 March 2023 192,921 20,125 18

INCOME FROM CHARITABLE ACTIVITIES Rostrici Unrestricted Year to 31.03.24 Total Year to 31.03.23 Total Lloyds Bank Foundation Newcastle City Council Northumberland County Council Ponteland High School Northern Education Trust Excelsior Academy South Tyneside Council North Of Tyne- Family Leaming Bridge Project Education Development Trust North of Tyne Working Homes New Stsrt- Karbon Homes Bemicia - Northumberland Learning Hives Northumberland County Council Housing Durham County Council LINKCD Bernicia- Durham LINKCD Hive Project Durham County Council - Multiply Project UKSPF - Solid Foundations Project DWP Prison Leavers Pioneering Care Partnership Sundry income 27.250 7,820 12.006 420 12,006 420 2,300 1,104 368 5,600 48.852 61,275 6,164 76,414 11,350 50,342 2,337 6,601 10,304 109,733 2,337 6,601 10,304 109,733 12,017 6,362 12,017 6,362 80,000 80,000 10,970 32,720 10,970 32,720 45.326 7,482 18.700 31,875 18,700 31.875 20,090 50,730 62 77,692 77,692 157.692 254,045 411,737 422,529 For the year ended 31 March 2023 169,829 252.700 INVESTMENT INCOME Restricted Unrestricted Year to 31.03.24 Totsl Year to 31.03.23 Total Interest on cash investments held in UK Dividends 5,911 4,543 5,911 4,543 4,382 10,454 10,454 4,382 For the year ended 31 March 2023 4,382 19

CHARITABLE ACTIVITIES Rostricted provision of ser¥lc8s Unrestricted provision of $oThices Unrestrlcted Governance Year to 31.03.24 Total Year to 31.03.23 Total Costs directly allocated to activities Staff costs SupplieslResources Recruitment Travel Volunteers Depreciation 305,157 34,477 475 5,014 288 191,897 13,712 227 3,952 83 582 210,453 497,054 48,189 702 8,966 371 582 555,864 425,328 49,383 821 6,655 1,176 164 483,526 345.411 Support costs apportioned to activities Premises Staff costs Resources Communications Accountancy and other seNices Legal and Professional 12,959 19,108 3,579 4.043 3,934 147 1,207 1.695 456 14,850 129 155 3,600 135 17,349 34,105 4,915 5,893 3.600 135 20,607 39,705 4,935 6.297 3,300 195 558,565 385,100 217,436 19.325 621,861 For the year ended 31 March 2023 366,308 173,453 18,804 Analysis of Governance & Support Costs The charitable company allocates costs direct to activities as far as possible, then identifies the remaining costs of its support functions. It then identifies those costs which relate to the governance function. Having identified its governan￿ costs, the remaining support costs together with the governance costs are apportioned between the key charitable activities undertaken in the year. The basis for apportionment and the analysis of support and governance costs is set out as follows: Direct to governan￿.. Accountancy Fees. bank charges and legal & professional fees. Direct to charitable activities: Monthly meeting costs. Other expenses have been apportioned using a 97.3 split. which approximately equates to staff time spent on governance activities. NET INCOMEI(EXPENDITURE) FOR THE YEAR This is stated after charging Year to 31.03.24 Total Year to 31.03.23 Totsl Depreciation 582 164 Independent examinerfs fees 3.600 3.300 20

STAFF COSTS AND NUMBERS Year to 31.03.24 Total Year to 31.03.23 Total Staff costs comprlse: Salaries Social Security costs Pension 472,744 36,473 21,942 531,159 419,853 27,593 17,587 465,033 The average number of persons (expressed as Full Time Equivalents) employed by the Trust was as follows.. Chief Executive Charitable activities Administration and support 15 12 18 15 Analysis of staff costs. trustee remuneration & expenses, cost of key management personnel and related party transactions None of the directorsltrustees of the charitable company received remuneration or expenses. The key management personnel of the charitable company, comprise the Trustees, the Chief Executive, Business Manager and an Operations Manager. The total employee benefits of the key management personnel of the charitable company were £109.764 (2023.. £103,720). No Trustee or other person related to the charity had any personal interest in any Gontract or Iransaction entered into by the charity during the period. None of the employees received benefits ex￿edIng £60,000 in the year (2023: Nil) 21

FIXED ASSETS Office Equipment Cost At 1 April 2023 Additions in the year Disposals At 31 March 2024 3,887 3,887 Depreciation At 1 April 2023 Charge for Ihe year Eliminated on disposals At 31 March 2024 2,189 582 2,771 Net Book Value At 31 March 2024 1,116 Net Book Value At 31 March 2023 1.698 INVESTMENTS At 31.03.24 Total At 31.03.23 Total Investment in subsidiary Other investments (at market value) Cash held for reinvestment 354,618 154,257 508,876 324,518 111 324,630 The above investments are classified as: At 31.03.24 Total At 31.03.23 Total Held as fixed assets Held as current assets 354,752 154,124 508,876 324,630 324,630 Reconciliation of other investments: Investment value at 1 April 2023 Additions.. Income reinvested Net profit on revaluation Investments value at 31 March 2024 324,518 4,543 25,557 354,618 All investments shown above are held at market valuation. 22

Analysis of other investments at market value: At 31.03.24 Totsl At 31.03.23 Total Asset Allocation Funds 354,618 324,518 The historical Gost of other investments at 31 March 2024 was £289,359 (£284,816 at 31 March 2023) The investment of £1 represents 1000A shareholding in NLT Learning Ltd. The results of this company have not been consolidated into these financial statements due to their immaterial nature. Year to Year to 31.03.24 31.03.23 Totsl Total Profit for the year Capital and Reserves 31 31 10. DEBTORS At 31.03.24 Total At 31.03.23 Total Trade debtors - contract income receivable Other debtors and prepayments 71,653 6.207 132.499 2.425 134.924 11. CREDITORS: amounts falling due withln one year At 31.03.24 Total At 31.03.23 Total Taxation and social security Other creditors and accruals Deferred income Owed to subsidiary company 8,374 9,790 27,763 31 8.569 25.664 23,896 31 45,958 58,160 Reconciliation of deferred income: Deferred income at 1 April 2023 Re￿iVed Utilised Deferred income at 31 March 2024 23,896 180,869 177,002 27,763 23

12. ANALYSIS OF NET ASSETS BETWEEN FUNDS General Funds Designated Funds Restricted Funds Total Funds Tangible fixed assets Investments Net Current Assets 1,116 257,279 292,120 1,116 354,752 396,583 752,451 97,473 48,264 56,199 56,199 Net assets at 31 March 2024 550,515 145,737 General Funds include the Revaluation Fund. The Revaluation Fund represents the uplift in the market value of Fixed Asset Investments over historic cost. 13. ANALYSIS OF FUND MOVEMENTS At Incoming Outgoing Transfers At 01.04.23 Resources Resources & Other 31.03.24 Gainsl (Losses) Restricted Funds.. North of Tyne Multiply Programme Veterans Cycle Project Bernicia Communty Fund Learning Hives- support fund Tutor Teaching resources fund Newbiggin Town Council Bridge Project Northumberland Learning Hives- Durham Leaming Hive- Health Inequalities Fund Project Community Resilience Project Total Restricted 16,199 7,499 562 866 1,042 73 4,502 215,098 (211,047) 5.762 {13,427) (360) (1,848) (353) (73) (4,502) 80,000 (47,285) 3,508 (13,345) 15,803 (15.650) 77,692 77,210 400,553 (385,100) 20,250 166 202 1,708 689 2,690 32,715 9.837 153 482 40,580 166 56,199 Total Unrestricted (Note 14) TOTAL 622.523 663,103 285,099 685,652 236,761 621,861 25,391 696,252 25,557 752,451 North of Tyne Multiply Programme delivers Maths engagement and learning through community. family, and one-to-one learning programmes, and is ongoing until March 2025. Bemicia Community Fund and Learning HivesThl Support Fund provide additional resources for our Leaming Hives in Northumber1and. These funds are ongoing as we continue to seek funds to support extra resources for our Learning Hives Northumberland Learning HivesTM funds the delivery of our 3 Learning Hives across Northumberland and is ongoing. Health Inequalities Fund provides support with health literacy and is due to end in December 2024. TM Our Community Resilien￿ Project fund, providing community mentoring support, is ongoing and currenuy expected to continue until March 2025. Transfers reflect balance transfers from unrestricted funds to cover project overspends and investment asset revaluation. 24

14. MOVEMENT IN FUNDS At 01.04.23 Incoming Resources Outgoing R88ource8 Transfers & Other Gainsl (Losses) At 31.03.23 Restricted funds: Charity activities Total restricted funds 40.580 40,580 400,553 400.553 385,100 385,100 166 56,199 56.199 166 Unrestricted funds= Development Fund Future Cost Reserve Revaluation Fund General funds 32,510 79.221 39,702 471,090 Total unrestricted funds 622,523 31.753 18,016 (15,763) 48.500 97,237 65,259 485,256 696,252 25,557 166 235,330 285.099 220,998 236,761 25,391 Total Funds 663,103 685,652 621.861 25,557 752,451 Unrestricted funds comprise those funds which the trustees are free to use for any purpose in furtheran￿ of the charitable objects. Unrestricted funds include designated funds, where the trustees, at their discretion, have created a fund for a specific purpose. The basis for calculating 'free reserves, is after allowing for all designated and restricted funds, fixed assets and olher non-current assets and liabilities. Designated Funds comprise a Development Fund, to fund planned contributions to projects in development, and a Future Cost Reserve, a contingent fund to cover the cost of any potential redundancies arising as a result of ￿dUcIng activities. The Revaluation fund represents the difference between market valuation and historical cost of Investments. 15. PENSION SCHEME Our stakeholder pension scheme is operated by Scottish Life and all new employees are auto- enrolled into the scheme. The Trust's contributions in 2023124 were £21,942 (2022123 £17,587) at an employerfs contribution rate of 50h of pensionable pay. Of this. £2,152 was outstanding at 31 March 2024 (£2.650 at 31 March 2023). 16. OPERATING LEASE COMMITMENTS The charity has no operating lease commitments. 17. ULTIMATE CONTROLLING PARTY In the opinion of the Trustees, the charitable company has no ultimate controlling party. other than the board of Trustees themselves. 25

1. LIMITED BY GUARANTEE The charitable company is a private limited company limited by guarantee and registered in England and Wales. The charity meets the definition of a public benefit entity under FRS 102. In the event ofthe charitable company being wound up members are required to contribute an amount of £1.00.
2. RELATED PARTY TRANSACTIONS The charitable company has had no transactions with any Related Parties. 26