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

18. 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.
19. RELATED PARTY TRANSACTIONS
The charitable company has had no transactions with any Related Parties.
26