2025-03-31-accounts

NORTHERN LEARNING TRUST (a company limited by guarantee) Trustses Annual Report and Financial Statements for the Year Ended 31 March 2025 Charity No: 1120330 Company No: 06316736 •• Northern Learning Trust

NORTHERN LEARNING TRUST Contents Page Legal and Administrative Infomiation Report of the Trustees 3-11 Independent examinerfs report to the Trustees 12 Statement of Financial Activities 13 Balance Sheet 14 Statement of Cash Flows 15 Notes forming part of the Financial Statements 16-26

NORTHERN LEARNING TRUST REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2025 Legal and Administrative Information 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 Offi￿. Cheviot House Beaminster Way East Newcastle upon Tyne NE3 2ER www.northernlearnin trust.or .uk Trustees. Anthony Brown Ann INynn Michael Ranson Roy Alexander Anne Delandre Nalalie Maidment {resigned 17 July 2024) Melanie Bear Jeannie Mcmillan Chair Vice 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 Services 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 2025 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.. advan￿ 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, Confiden￿ and self-esteem through a range of supportive and personalised programmes. These include Functional Skills, Employability Skills, ESOL, Alternative Education, programmes for those Not in Education, Employment or Training (NEETS), Family Learning 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 communrties in the North East. The Trust aims to improve skill levels of residents and additionally give them confidence to.. seek further education. training, employment and enterprise. support their children's learning. support their communities in leaming. improve their mental health and well-being through learning. 1.2 Ensuring the Work Delivers Our Aims The Trust reviews its aims, objectives and activities 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 guidance contained in the Charity Commission's guidance on Public Benefit when reviewing our aims 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 continue to work to build relationships with current and potential new partners and explore new markets to develop and deliver services. Key areas of work included". continuing to maintain and develop new Learning Hives across the region. exploring new opportunities for partnership working within housing, health and wellbeing and other services. developing and expanding the reach of our specialist mentoring services. marketing and delivering our Family and Community Learning offering. further developing our work in criminal justice. expanding and growing our support for young people at risk of disengaging from mainstream education. TM

continuing to support and develop our workforce to enable them to meet the challenges presented by a dynamic and changing environment. Adult and Community Services We maintained our four Learning HivesTM in Northumberland and Durham, in partnership with Social Housing providers across the region and expanded our Learning HiveTM delivery in Newcastle with new sites in Fawdon and Throckley in partnership with 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 Prograrnme, and Family and Community maths provision under the Multiply strategy. We also delivered community maths and English provision under the Multiply and Communicate strategies in County Durham and continued delivery on the National Careers Service, providing Information Advice and Guidance to learners. We continued to deliver 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, to provide community-based mentoring and psychological intervention support for residents of County Durham experiencing mental health difficulties. After delivering our Armed Forces Veterans, Cycle Club for six years, we were proud to support the project in becoming an independenl constituled group, continuing to provide mentoring services for fomier members of the Armed Forces, supporting those with mental and physical health issues and combatting social isolation. We wish the group every success for the future. Our successful Health Literacy Mentoring pilot project in Northumberland came to a close in December 2024, leaving a legacy of trained volunteers who have continued to provide support and healthy activities for high intensity users of frontline NHS services, helping them improve and develop their skills in managing their health and wellbeing. Project data will be used to inform and support applications for continuation funding for this work. Criminal Justice Services We have continued ta develop strong working relationships with potential delivery partners and to define and hone a delivery model in readiness for Ministry of Justice recommissioning rehabilitative services in Autumn 2025. Child￿n and Young People's Service We have continued our delivery of intensive one-to-one support, enabling young people with SEND requirements and those not in education or at risk of disengaging from education, to continue learning whilst out of school, whilst supporting them to re-engage in mainstream education or training. 1.4 How Our Activities Deliver Public Benefit The Trustees have referred to the guidance conlained in the Charity Commission's general guidan￿ on public benefit when reviewing the aims and objectives and in planning future activities. The charitable objectives are also set out in order to provide a clear and demonstrable public benefit. All our charitable activities focus on increasing the learning and skills levels of individuals, thereby providing the skills, confidence and self-esteem ne￿SSary to enable them to improve their quality of life. By providing these activities 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 receive restricts the area in which we are able to provide servI￿s, to the North East of England. The North East economy continues to lag behind national averages, particularly in employment, skills and eamings. Significant inequalities in terms of education, achievement, employment and health continue to exist between different areas and the challenge is to achieve active and resilient communities in a sustainable economy. The North East Combined Authority Local Growth Plan identifies the need to ensure access to opportunities for all, to increase skills and qualifications, improve economic activity, health and wellbeing and tackle child poverty. To achieve this, it is necessary to ensure all individuals have the skills and competencies to be able to capitalise on available employment and education opportunities. The funding we receive is targeted at individuals and families with low level skills, low confidence 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 aboLrt 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 follow 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 a￿aS of charitable activity are the provision of a range of bespoke programmes and sessions offering skills development and menloring lo those individuals who have the lowest levels of skills and confidence, and who are least likely to seek support from the more fonnal mainstream and statutory agencies. 2024-2025 saw a further increase in demand for our services. During this year we supported over 1000 people to improve their functional and digital skills, develop employability skills, improve their mental health and wellbeing, support their child's learning and development and achieve qualifications to support their progress towards employment and financial stability. These activities and the achievements are described below. 2.1 Adult and Community Services Learning Hives A Leaming 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 leaming, working and wellbeing. At the end of this reporting period, five Learning TM TM TM Hives were maintained across the region and a further two established. We delivered the Leaming Hives with support from the North East Combined Authority. the UK Shared Prosperity Fund and Bernicia Housing, providing support with Employabilrty Skills, Literacy and Numeracy, ICT. Volunteering and Leaming for Health and Well-Being, for those experiencing the greatest barriers to progression. Multiply With the continuation of our Multiply conlract through the North East Combined Authority, we worked with a further 316 learners, to improve their skills in maths and their ability to support their children's leaming.

We worked with a further 89 leamers in County Durham under the Multiply and Communicate strategies. Family Learning Through the North East Combined Authority's Child Poverty Reduction Programme, we have worked in 32 schools across the region, engaging and supporting 530 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 its work in County Durham, but with a broader remit. 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. Health Literacy Mentoring Project We delivered a successful Health Literacy Mentoring pilot project in Northumberland, in response to a need identified for support to enable people with ongoing mental and physical health conditions to better manage their conditions and reduce pressure on front line NHS services. The Health Literacy Mentor and trained volunteers provided help to understand and decode information provided, manage dosage of medication, use ICT to access appointment systems and additional sources of support and to access and participate in activities beneficial to health and wellbeing. The project closed in December 2024, leaving a legacy of trained volunteers who continue to provide support. 2.3 Criminal Justice Services Due to funding constraints, front line delivery in Criminal Justice has been suspended this year. We have spent the time instead, developing partnerships and delivery models in anticipation of a new round of Ministry of Justice commissioning of rehabilitative services, expected in Autumn 2025. 2.4 Children and Young People Services We have had notable successes this year with our Young People's service, with many of our students achieving functional skills qualifiGalions, having been out of school for significant periods of time. Referrals to the Servi￿ remain consistent with many unable to attend school due to anxiety and mental health problems. The shortage of specialist SEND places in the region has also increased demand for our services. 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. 2.5 Workforce Development To ensure that we are able to meet the demands of a dynamic and demanding sector, we have focussed on supporting and developing our staff team, enabling them to develop new skills and expertise. In the ￿porting period, three members of staff have embarked on AdVan￿d Apprenti￿ShIps, working towards becoming qualified teachers.

1. Consultancy, Research and Training The Trust continues to offer consultancy, training and research services to other organisations. Financial Review During the year we have secured additional grants, contracts and donations to achieve strong growth in income of 300/0 from last year. To continue to deliver our services we have employed additional tutors, which together with salary increases has led to staff costs in the same period increasing by 22 % and costs overall increasing by 190kn. We report a net surplus of £151,531, including realised profit on disposal of investments of £7,703 and a decrease of £8,439 in Ihe value of Investments. The increase in reserves is highlighted in our accounts for the year. We expect funding levels to reduce throughout 2025126, but we have secured sufficient funding to enable the continued delivery of most of our servI￿s, some on a reduced basis. We continue to seek new funding opportunities. We have updated our business plan and will continue to invest and develop new relationships. 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.
2. Principal Funding Sources The Trustees are grateful to the following for funding the work of the Trust during the year.. Bernicia Browns Solicitors Catherine Cookson Charitable Trust Durham County Council Education Development Trust Local Community Partnership Newcastle Newbiggin Town Council Newcastle City Council North EastlNorth of Tyne Combined Authority Northumberland County Council Ouseburn Farm Pioneering Care Partnership UK Shared Prosperity Fund Sunderland University Thriving Together Their support has been essential in allowing the Trust to continue to deliver services across the North East.
3. Investment Policy The strategic aims and development of the Trust specify that the Trustees should ensure the best use of reseNes 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 Ihe long term aims to maintain the real value of the assets. The Investment Policy is kept under regular review.

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 Trustees benchmark against pay levels of other charities and similar organisations within the sector and the region. Pay levels are sel using this information together with budget and forecast infonnation, ensuring that the charitable company can afford any proposed increases. The Board of Trustees then consider any uplift to remuneration. 8. Reserves Policy and Going Concern The calculation of free resenies 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 SoUr￿S and future plans and commitments. Resulting from this, the trustees consider it appropriate to maintain unrestricted free reserves at a level equivalent to six months, operating costs which equates to a range of £320,000 to £340,000. At the year end, free reserves were £200,757 (2024.. £292,120). As part of the reserves policy the trustees have designated the following funds.. Futu￿ Cost Reserve of £90,446 (2024.. £97,237), Development Fund of £66,033 (2023. £48,500) and Delivery Support Fund of £75,000 (2024.. £0) 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 dernand on future reserves will also be greater, hence the charity continues to ￿qUIre 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 concern 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 current and potential new partners and explore new markets to develop and deliver services. The Trust will focus on the following areas: TM continue to maintain existing and develop new Learning Hives across the region. explore new opportunities for partnership working within housing, health and wellbeing, criminal justice and other services. develop and expand the reach of our specialist mentoring services. market and deliver our Family and Community Learning offering. develop our work in criminal justice. 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.

1. Structure, Governance and Management 10.1 Governing Document Northern Learning 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 charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to Gontribute 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 more than 8 years without at least a 1 year break unless they are unanimously requested to do so by members. Mr Mike Ranson and Mrs Anne Delandre retire by rotation and offer themselves for re-election. When 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 ar resignation, suitable individuals are recruited through an advertisement and selection process for appointment to the Board. All Trustees give their time voluntarily and received no benefits from the charity. No Trustees claimed expenses during the year. 10.3 Trustee Induction and Training New Trustees are invited to meet with the Chair and Chief Executive to familiarise themselves with the Trust and the context in which it operates. This Govers.. 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 infomiation together with publications from the Charity Commission. The Chief Executive organises opportunities 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 specrfic focus groups or projects. 10.4 Organisation The Board of Trustees has responsibility for the strategic direction and policy of the charity. It rneets quarterly and when ne￿SSary working groups are constituted. The Chief Executive is appointed by the Trustees to manage the day to day operations. To facilitate effective operations, the Chief Executive has delegated authority, within the terms of delegation approved by the Trustees, for operational matters including finance, employment and Servi￿ delivery.

10.5 Risk Management The Trustees have a risk management strategy that comprises.. monitoring the strategic, business and operational risks the charity rnay face, including safeguarding and Health & Safety, wilh 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 with 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 Northern Leaming Trust is currently dependent on income frorn a variety of sources in order to sustain its activities. All projects are currently funded, most until at least March 2026, and are operating effectively. We are experiencing increasing demand for our serrfices 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 charity continues to be a going concern for the foreseeable future. On that basis they have continued to adopt the going con￿rn basis when preparing the financial statements. 10.7 Statement of Trustees, Responsibilities The Trustees (who are also the directors of Northern 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 Practice). Company 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 concern 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 disclose 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 Services has been re-appointed as independent examiner for the ensuing year. 10

10.9 Small Company Provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. This report was approved by the Board on 23 July 2025 and signed on its behalf by.. Date.. A Brown Chair

NORTHERN LEARNING TRUST INDEPENDENT EXAMINER'S REPORT TO THE COMPANY'S MEMBERS I report to the charily Trustees on my examination of the accounts of the Charitable Company for the year ended 31 March 2025. 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 acGounts 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 OLrt my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Acl. Independent examinerfs statement Since the Charitable Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confinn that l am qualified to undertake the examination because l am mernber of the Institute of Chartered Accountants in England and Wales (ICAEW) which is one of the listed bodies. I have completed my examinalion. I confirm 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 accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns 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... Azets Audit Services is a trading name of Azets Audit Services Limited 12

NORTHERN LEARNING TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Notes Restrlcted 2025 Unrestricted 2025 Year to 31.03.25 Total Yearto 31.03.24 Total Income from: Donations and Grants 254,429 20,365 422,722 16,191 274,794 263,461 Charitable activities 176,182 598,904 411,737 Investments 16,191 10,454 Totsl Income 430,611 459,278 889,889 685,652 Expenditure Charitable activities 448,543 289,079 737,622 621,861 Total Expenditure 448,543 289,079 737,622 621.861 Net income (17,932) 170.199 152,267 63,791 Other recognised gains1(losses): ProfiV{loss) on revaluation of investments (736) (736) 25,557 Net income before transfers (17,932) 169,463 151,531 89,348 Transfers between funds 13 3,502 Net movement in funds {14,430) 165,961 151,531 89,348 Reconciliation of Funds: Total funds brought fon4vard 56,199 696,252 752.451 663,103 Totsl funds Carried forward 41,769 862,213 903,982 752,451 The statement of financial activities includes all gains and losses in the year. All incoming resources and reSoU￿S expended derive from continuing activities. 13

NORTHERN LEARNING TRUST Company Registration Number: 06316736 BALANCE SHEET AS AT 31 MARCH 2025 Notes 31.03.25 31.03.24 Fixed Assets Tangible assets Investments 534 519,889 1,116 354,752 520,423 355,868 Current Assets Debtors Short term investments Cash at bank and in hand 10 112,217 77.860 154,124 210,557 298,524 410.741 442.541 Creditors: amounts falling due within one year 27,182 45,958 Net Current Assets 383.559 396,583 NET ASSETS 12 903.982 752.451 Funds of the Charity Designated funds Revaluation funds General funds 14 14 14 231,479 145,737 65,259 485.256 630.734 Total unrestricted funds Restricted funds 13+14 862,213 41.769 696.252 56,199 TOTAL 13 903,982 752,451 Forthe year ending 31st March 2025 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 statements have been prepared in accordan￿ 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 14

NORTHERN LEARNING TRUST Company Registration Number: 06316736 STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31 MARCH 2025 Notes 31.03.25 31.03.24 Cash flows from operating activities Net cash provided by operating activities 152,267 63,791 Adjustments to cash flows from non- cash items Depreciation Investment income Investment charge levied on portfolio 582 (12,599) 850 582 (10.454) 141,100 53,919 Working capital adjustments (Increase)/decrease in debtors Increasel(decrease) in creditors 10 11 (34,357) 18,776 57,064 12,202 Net cash flows from operating activities 87,967 98,781 Cash flows from investing activities Pro￿edS from sale of investments Investment income received Purchase of investments Transfer of Cash into Investment 366,094 12,599 385,510 147,307 10,454 (4,565) Net cash flows from investing activities 154,124 5,889 Net (decrease)lincrease in cash and cash equivalents (66,157) 104,670 Cash and cash equivalents at 1 April 364,681 260,011 Cash and cash equivalents at 31 March Short term investments Cash at bank and in hand 154,124 210,557 298,524 298,524 364,681 15

NORTHERN LEARNING TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES 1.1 General Information The charity is a private company limited by guarantee, registered in England and Wales and a registered Gharity 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 Stalement 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 currency of the charity is Sterling. Disclosure exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. In accordan with the 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 income 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 fLrture. Therefore, the Trustees are of the view that the charitable company has sufficient reSoUr￿S 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 performance conditions is recognised as earned (as the related goods or services 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 perfornian 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 received of the dividend due. This is normally upon receiving notification by our investment advisor of the dividend. Interest on funds held on deposit is included upon notification of the interest paid or payable by the bank. 16

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 g0Veman￿ costs, are allocated or apportioned to the applicable expenditure headings in the statemenl 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. Governan￿ costs comprise all costs involving the public accountability of the charitable company and its compliance with regulation and good practi￿. 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 lo 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 difference 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 carying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. 1.9 Pension The charitable Gompany 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 charitable company on the basis outlined in Note 5. 1.10 Fund Accounting Restricted funds are maintained in accordance with the restrictions placed upon monies ￿ceiVed 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.. Office Equipment - 3 years straight line basis The carrying values of tangible fixed assets are reviewed for impairment periodically if events or changes in circumstances indicate the carrying value may not be recoverable. 17

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 pul options, derivatives or other complex financial instruments. 1.13 Investsnent 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 term highly liquid investments with a short rnaturity 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 party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally 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 and judgements are continually reviewed and are based on experience and other factors, including expectations of future evenls that are believed to be reasonable under the circumstances. During the year, no key judgements or estimates have been made within the financial statements. 18

DONATIONS AND GRANTS Restricted Unreslricted Year to 31.03.25 Total Year to 31.03.24 Total Education Donation - Browns Solicitors North EastlNorth of Tyne Combined Authority- Multiply Programme Cycling UK Sir James Knott Trust Armed Forces Covenant Northumberland County Council Hub Grant Newbiggin Town Council Asd8 Foundation Co-op Local Community Fund Catherine Cookson Charitable Trust Durham County Council AAP Northumberland County Council - Health Inequalities Fund Sunderland University Sundry donats'ons 20,000 20,000 20.000 225,966 225,966 215,098 360 5,000 402 500 100 400 1,690 300 300 400 10,523 400 10,523 3,508 17,240 17,240 200 165 15,803 600 200 165 254,429 20,365 274,794 263,461 For the year ended 31 March 2024 242,861 20,600 INCOME FROM CHARITABLE ACTIVITIES Restricted Unrestricted Year to 31.03.25 Total Year to 31.03.24 Total Newcastle City Council Northumberland County Council Northern Education Trust Excelsior Academy South Tyneside Council North EasUNorth of Tyne Combined Authority Family Learning Education Development Trust North of Tyne Working Homes Bernicia- Northumberland Leaming Hives Northumberland County Council Housing Durham County Council LINKCD Durham County Council- Multiply Project Durham County Council- Communicate Project UKSPF - Solid Foundations Project Local Community Partnership Newcastle Thriving Together AEB Ouseburn Farm Pioneering Care Partnership Sundry income 121,155 121,155 12,006 420 2,337 6,601 10,304 109,733 79,644 79,644 12,107 12,107 12,017 6,362 80,000 10,970 32,720 18,700 80,000 80,000 51,744 30,250 51,744 30,250 44,864 57,270 15,016 10,672 44,864 57,270 15,016 10,672 96,182 31,875 96,182 77,692 176,182 422,722 598,904 411,737 For the year ended 31 March 2024 157,692 254,045 19

INVESTMENT INCOME Restrl¢ted Unrestricted Yearto 31.03.25 Total Year to 31.03.24 Total Interest on cash investments held in UK Dividends 10,156 6,035 10,156 6,035 5,911 4,543 16,191 16,191 10,454 For the year ended 31 March 2024 10,454 CHARITABLE ACTIVITIES Restrlcted provSslon of seNices Unrestrictad provision of servlces Unf$Strictod Gov•rnane• Year to 31.03.25 Total Year to 31.03.24 Total Costs directly allocated to activities Staff costs SupplieslResources Recruitment Travel Volunteers Depreciation 374,423 32,875 175 4.770 165 233,938 14,465 297 3.082 231 582 252,595 608,361 47,340 472 7,852 396 582 497,054 48,189 702 8,966 371 582 412,408 665,003 555,864 Support costs apportioned to activities Premises Staff costs Resources Communications Accountancy and other services Legal and Professional 14,310 13,941 3,478 4,406 4,481 8,343 1,289 1,912 442 14,818 112 148 3,960 19,233 37,102 4,879 6,466 3,960 17,349 34,105 4,915 5,893 3,600 979 979 135 448,543 268,620 20,459 737,622 621,861 For the year ended 31 March 2024 385,100 217,436 19,325 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 govemance 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 governance.. 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 tirne spent on governance activities. 20

NET INCOMEI(EXPENDITURE) FOR THE YEAR Year to 31.03.25 Total Year to 31.03.24 Total This is stated after charging: Depreciation Independent examinerfs fees 582 582 3,960 3,600 STAFF COSTS AND NUMBERS Year to 31.03.25 Total Year to 31.03.24 Total Staff costs comprise: Salaries Social Security costs Pension 577,901 40,192 27,370 645,463 472,744 36,473 21,942 531,159 The average number of persons (expressed as Full Time Equivalents) employed by the Trust was as follows: Chief Executive Charitable activities Administration and support 17 15 20 18 Analysis of staff costs, trustee remuneration & expenses. cost of key management personnel and related party transactions 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 £116,349 (2024: £109,764). None of the Trustees of the charitable company received remuneration or expenses. No Trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charty during the period. None of the employees received benefits exceeding £60,000 in the year (2024: £Nil) There were no related party transactions to report. 21

FIXED ASSETS Office Equipment Cost At 1 April 2024 Additions in the year At 31 March 2025 3,887 3,887 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 2,771 582 3,353 Net Book Value At 31 March 2025 534 Net Book Value At 31 March 2024 1,116 INVESTMENTS At 31.03.25 Total At 31.03.24 Total Investment in subsidiary Other investments (at market value) Cash held for reinvestment and on term deposlts 364.472 155.416 519,889 354,618 154,257 508.876 The above investments are classified as: At 31.03.25 Total At 31.03.24 Total Held as fixed assets Held as current assets 519,889 354,752 154,124 508,876 519,889 Reconciliation of other investments: Investment value at 1 April 2024 Additions to investments at cost Disposal at carrying value Net loss on disposal and revaluation Investments value at 31 March 2025 354,618 376,684 (366,094) 736 364,472 All investments shown above are held at market valuation. 22

Analysis of other investments at market value: At 31.03.25 Total At 31.03.24 Total Asset Allocation Funds 364,472 354,618 The historical cosl of other investments at 31 March 2025 was £372.911 (£289,359 at 31 March 2024). The investment of £1 represents 1000h 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 31.03.25 31.03.24 Total Total Profit for the year Capital and Reserves 31 31 10. DEBTORS At 31.03.25 Total At 31.03.24 Total Trade debtors - contract income receivable Other debtors and prepayments 104,266 7,951 112,217 71,653 6,207 77,860 CREDITORS: amounts falling due within one year At 31.03.25 Totsl At 31.03.24 Total Taxation and social security Other creditors and arKruals Deferred income Owed to subsidiary company 8,374 9,790 27.763 31 17,357 9,794 31 27,182 45,958 Reconciliation of deferred income.. Deferred income at 1 April 2024 Received Utilised 27,763 130,949 148.918 9,794 Deferred income at 31 March 2025 23

12. ANALYSIS OF NET ASSETS BETWEEN FUNDS General Funds Deslgnated Funds Restricted Funds Totsl Funds Tangible fixed assets Investments Net Current Assets 534 429,443 200,757 630,734 534 519,889 383,559 903,982 90,446 141,033 231,479 41,769 41,769 Net assets at 31 March 2025 13. ANALYSIS OF FUND MOVEMENTS At Incoming Outgoing Translers At 01.04.24 Resources Resources & Other 31.03.25 Gainsl (Lossos) Restricted Funds: North of Tyne Multiply Programme Bernicia Community Fund 20,250 202 1,708 689 225,966 (247,519) (213) (436) (707) (10,523) (18,068) (72,918) 1,303 TM Learning Hives support fund Tutor Teaching resources fund Durham Learning Hive Health Inequalities Fund Project Northumberland Learning Hives- Community Resilien￿ Project Total Restricted 700 1,972 18 TM 10,523 17,240 80,000 96,182 430,611 (448,543) 153 32,715 482 675 39,797 1,495 3,502 41,769 56,199 Total Unrestricted (Note 14) TOTAL 696,252 752,451 459.278 889,889 289,079 737,622 4.238 862,213 903,982 736 Leaming HivesTM Support Fund provides additional resources for our Learning Hives Northumberland and is ongoing as we continue to seek funds to support delivery. TM TM Northumberland Learning HivesTM funds delivery from our 3 Learning Hives across Northumberland and is ongoing. Our Community Resilience Project fund, providing community mentoring support, is ongoing and currently expected to continue until March 2026. Transfers reflect balan￿ transfers from unrestricted funds to cover project overspends and inveslment asset revaluation. 24

14. MOVEMENT IN FUNDS At 01.04.24 Incoming Resources Outgoing Resources Transfers & Other Gainsl (Losses) At 31.03.25 Restricted funds: Charity activities Total restricted funds 56,199 56,199 430,611 430.611 448,543 448,543 3,502 3,502 41.769 41,769 Unrestricted funds: Development Fund Delivery Support Fund Future Cost Reserve Revaluation Fund General funds 48,500 17,533 75,000 66,033 75,000 90,446 97,237 65,259 485,256 696,252 (6,791) (64,523) 217,765) 289,079 (736) 3,502 4,238 366,745 459.278 630,734 862,213 Total unrestricted funds Total Funds 752,451 889,889 737,622 736 903,982 Unrestricted funds comprise those funds which the trustees are free to use for any purpose in furtherance 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 other non-current assets and liabilities. Designated Funds comprise a Development Fund, to fund planned contributions to projects in development, a Delivery Support Fund to bridge expected gaps in funding during the year and enable our services to be maintained and a Future Cost Reserve, a contingent fund to cover the cost of any potential redundancies arising as a result of reducing 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 2024125 were £27,370 (2023124 £21,942) at an employer's contribution rate of 50h of pensionable pay. Of this, £3,572 was outstanding at 31 March 2025 (£2,152 at 31 March 2024). 16. OPERATING LEASE COMMITMENTS The Gharity 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