##
##
|Reference
and Administrative
Details|Reference
and Administrative
Details||
|---|---|---|
|Trustees' Report||2 to 14|
|Statement ofTrustees'|Responsibilities|15|
|Independent
Auditors'|Report|16to 18|
|Statement ofFinancial|Activities|19to20|
|Balance Sheet||21|
|Statement ofCash Flows||22|
|Notes ofthe Financial|Statements|23 to44|
||||South West Grid|South West Grid|South West Grid|South West Grid|for Learning Trust|for Learning Trust|for Learning Trust|for Learning Trust|for Learning Trust|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||Reference and||Administrative|||||Details||
|Trustees|||R Bond|||||||||
||||A C Coghlan|||||||||
||||P Fletcher|||||||||
||||C Mcdonald|||||||||
||||SSmith|||||||||
||||SP Taylor|(resigned||||15June 2021)||||
||||S Wainwright|||(resigned 31|||October 2020)|||
||||A E Brittan|||||||||
||||JBriscombe|||||||||
||||M E Blackman||||(appointed||15Apri12021)|||
|Secretary|||R Bond|||||||||
|Principal|Office||Belvedere|House||||||||
||||Woodwater||Park|||||||
||||Pynes Hill|||||||||
||||Exeter|||||||||
||||EX25WS|||||||||
||||The charity|is||incorporated|||in England||and Wales.|
|Company|Registration|Number|05589479|||||||||
|Charity Registration||Number|1120354|||||||||
|Solicitors|||Shoosmiths|LLP||||||||
||||West One|||||||||
||||114Wellington||||Street|||||
||||Leeds|||||||||
||||Lsl 1BA|||||||||
|Bankers|||Lloyds TSB||Bank Pic|||||||
||||234 High Street|||||||||
||||Exeter|||||||||
||||Devon|||||||||
||||EX43ZB|||||||||
|Auditor|||Thompson|Jenner LLP||||||||
||||Statutory
Auditors|||||||||
||||28 Alexandra||Terrace|||||||
||||Exmouth|||||||||
||||Devon|||||||||
||||EX8 1BD|||||||||
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||||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
||||||funds|funds|2021|
|||||Note||||
|Income and Endowments|||from:|||||
|Charitable
activities|||||3,950,798|325,999|4,276,797|
|Investment
income|||||2,785||2,785|
|Total income|||||3,953,583|325,999|4,279,582|
|Expenditure
on:||||||||
|Charitable
activities|||||(3,499,125)|(609,855)|(4,108,980)|
|Total expenditure|||||(3,499,125)|(609,855)|(4,108,980)|
|Net income/(expenditure)|||||454,458|(283,856)|170,602|
|Transfers between|funds||||(283,856)|283,856||
|Other recognised|gains|and losses||||||
|Actuarial
gains/(losses)||on|defined benefit|||||
|pension
schemes|||||(254,000)||(254,000)|
|Net movement
in funds|||||(83,398)||(83,398)|
|Reconciliation
of|funds|||||||
|Total funds brought|forward||||1,043,900||1,043,900|
|Total funds carried|forward|||20|960,502||960,502|
##
##
|||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|2020|
|Income and Endowments||from:|||||
|Charitable
activities||||4,545,588|444,321|4,989,909|
|Investment
income||||13,191||13,191|
|Total income||||4,558,779|444,321|5,003,100|
|Expenditure
on:|||||||
|Charitable
activities||||(4,369,910)|(725,998)|(5,095,908)|
|Total expenditure||||(4,369,910)|(725,998)|(5,095,908)|
|Net income/(expenditure)||||188,869|(281,677)|(92,808)|
|Transfers between
funds||||(337,486)|337,486||
|Other recognised
gains|and losses||||||
|Actuarial
gains/(losses)|on|defined benefit|||||
|pension
schemes||||(14,000)||(14,000)|
|Net movement
in funds||||(162,617)|55,809|(106,808)|
|Reconciliation
offunds|||||||
|Total funds brought
forward||||1,206,517|(55,809)|1,150,708|
|Total funds carried forward|||20|1,043,900||1,043,900|
##
##
||||Balan|ce Sheet as at|31March 2|021||
|---|---|---|---|---|---|---|---|
||||||Note|2021
f|2020f|
|Fixed assets||||||||
|Intangible
assets|||||12|8,949|9,523|
|Tangible assets|||||13|8,208|11,713|
|Investments|||||14|I|I|
|||||||17,158|21,237|
|Current assets||||||||
|Stocks|||||15|106,590|123,078|
|Debtors|||||16|1,046,245|926,286|
|Cash at bank|and in hand|||||1,783,892|2,526,250|
|||||||2,936,727|3,575,614|
|Creditors: Amounts||falling|due within|one year|17|(622,303)|~(1,445,951|
|Net current|assets|||||2,314,344|2,129,663|
|Net assets excluding||pension|liability|||2,331,502|2,150,900|
|Pension scheme liability|||||9|~3,373,000|~3,707,000|
|Net assets including||pension|liability|||960,502|1,043,900|
|Funds ofthe|charity:|||||||
|Unrestricted|income|funds||||||
|Unrestricted||||||960,502|1,043,900|
|Total funds|||||20|960,502|1,043,900|
##
##
||||||Note|2021
f.|2020f|
|---|---|---|---|---|---|---|---|
|Cash flows from operating|activities|||||||
|Net cash expenditure||||||(83,398)|(106,808)|
|Adjustments
to cash flows from non-cash|||items|||||
|Depreciation||||||6,768|7,159|
|Amottisation||||||2,802|2,728|
|Investment
income||||||(2,785)|(13,191)|
|||||||(76,613)|(110,112)|
|Working capital adjustments||||||||
|Decrease/(increase)
in stocks|||||15|16,488|(16,065)|
|(Increase)/decrease
in debtors|||||16|(119,959)|194,911|
|(Decrease)/increase
in creditors|||||17|(755,303)|738,730|
|Increase/(decrease)
in retirement
benefit obligation||||net ofactuarial||||
|changes|||||19|264,000|83,000|
|Decrease in deferred
income||||||(68,265)|(411,532)|
|Net cash flows from operating||activities||||(739,652)|478,932|
|Cash flows from investing
activities||||||||
|Interest receivable
and similar||income|||4|2,785|13,191|
|Purchase ofintangible
fixed assets|||||12|(2,228)||
|Purchase oftangible
fixed assets|||||13|(3,263)|(16,210)|
|Net cash flows I'rom investing|activities|||||(2,706)|(3,019)|
|Net (decrease)/increase
in cash||and cash equivalents||||(742,358)|475,913|
|Cash and cash equivalents
at|I|April||||2,526,250|2,050,337|
|Cash and cash equivalents
at|31 March|||||1,783,892|2,526,250|
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|the amount
attrib|utable
to each activity.|||
|---|---|---|---|
|||2021|2020|
|E - Safety||40%|36%|
|UK Safer Internet|Centre|11%|10%|
|Barefoot||21%|21%|
|Licencing||5%|5%|
|Schools Internet|Service|23%|23%|
|SELMA||0%|5%|
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|Income from charitable
activ|ities||||
|---|---|---|---|---|
||Unrestricted||||
||funds|Restricted|Total|Total|
||General|funds|2021f|2020f|
|E-Safety|759,730||759,730|565,035|
|UK Safer Internet Centre||322,717|322,717|378,489|
|SELMA||3,282|3,282|65,832|
|Barefoot|380,054||380,054|347,323|
|Licencing|220,854||220,854|173,854|
|Schools Internet Service|2,590,160||2,590,160|3,458,786|
|Operational||||590|
||3,950,798|325,999|4,276,797|4,989,909|
##
|4
Investment
in|come|||
|---|---|---|---|
|||Unrestricted||
|||funds|Total|
|||General|funds|
|||f||
|Interest receivable|and similar income;|||
|Interest receivable on bank deposits||2,785|2,785|
|Total for 2021||2,785|2,785|
|Total for 2020||13,191|13,191|
##
##
##
|||Activity||||
|---|---|---|---|---|---|
|||undertaken|Activity|||
|||directly
f|support costs|2021|2020|
|E-Safety||340,521|148,659|489,180|482,844|
|UK Safer Internet|Centre|569,917|39,938|609,855|659,678|
|Barefoot||238,681|77,657|316,338|331,050|
|Licencing||191,934|18,490|210,424|160,101|
|Schools Internet|Service|2,376,020|107,163|2,483,183|3,395,915|
|SELMA|||||66,320|
|||3,717,073|391,907|4,108,980|5,095,908|
||Unrestricted||||
|---|---|---|---|---|
||funds|Restricted|Total|Total|
||General|funds|2021|2020|
|E-Safety|489,180||489,180|482,844|
|UK Safer Internet Centre||609,855|609,855|659,678|
|SELMA||||66,320|
|Barefoot|316,338||316,338|331,050|
|Licencing|210,424||210,424|160,101|
|Schools Internet Service|2,483,183||2,483,183|3,395,915|
||3,499,125|609,855|4,108,980|5,095,908|
##
##
||||Unrestricted||||
|---|---|---|---|---|---|---|
||||funds||||
|||||Restricted|Total|Total|
||||Geaeral|fuads|2021|2020|
|Employment||costs|196,475|21,112|217,587|246,813|
|Establishment||costs|101,174|12,250|113,424|132,703|
|Legal and|Professional||31,904|3,863|35,767|48,281|
|Travel and|subsistence||801|97|898|739|
|Computer|expenses||21,614|2,617|24,231|6,532|
|Advertising||and promotion||||868|
||||351,968|39,939|391,907|435,936|
|||Unrestricted|||
|---|---|---|---|---|
|||funds|Total|Total|
|||General|2021|2020|
|Audit fees|||||
|Audit ofthe financial|statements|11,200|11,200|11,500|
|Other fees paid to auditors||3,186|3,186|3,004|
|||14,386|14,386|14,504|
##
||||2021|2020|
|---|---|---|---|---|
|Operating
leases||- other assets|71,492|76,297|
|Audit fees|||11,200|11,500|
|Other non-audit||services|10,817|7,816|
|Depreciation|of|fixed assets|7,311|7,159|
|Amortisation|of|software|2,802|2,728|
##
##
##
##
|||2021|2020|
|---|---|---|---|
|||8||
|Staff costs during|the year were:|||
|Wages and salaries||886,351|841,143|
|Social security costs||86,916|80,811|
|Pension costs||70,195|140,286|
|||1,043,462|1,062,240|
|the year expressed
as full time equivalents
was|as follows;||||
|---|---|---|---|---|
||2021||2020||
||No||No||
|Administration||32||32|
|2021|2020|
|---|---|
|No|No|
##
##
##
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|Audit ofthe financial||statements||||11,200|11,500|
|Other fees to auditors||||||||
|All other non-audit|services|||||10,817|7,816|
|11 Taxation||||||||
|The charity
is aregistered|||charity|and is therefore|exempt from taxation.|||
|12 Intangible
fixed|assets|||||||
|||||||Software|Total|
|Cost||||||||
|At
1 April 2020||||||13,640|13,640|
|Additions||||||2,228|2,228|
|At 31March 2021||||||15,868|15,868|
|Amortisation||||||||
|At
1 April 2020||||||4,117|4,117|
|Charge for the year||||||2,802|2,802|
|At 31March 2021||||||6,919|6,919|
|Net book value||||||||
|At 31 March 2021||||||8,949|8,949|
|At 31 March 2020||||||9,523|9,523|
##
##
##
##
##
##
|capital are a|s follows:|||||
|---|---|---|---|---|---|
||||Proportioa of|voting||
||||rights and shares|||
|Undertaking||Holding|held|Principal activity||
|Subsidiary|undertakings|||||
|Edtesa Limited||Ordinary|100%||Dormant|
|15 Stock||||||
|||||2021|2020|
|Stocks||||106,590|123,078|
|16 Debtors||||||
|||||2021|2020f|
|Trade debtors||||183,886|370,431|
|Prepayments||||360,548|433,904|
|Accrued income||||406,306|37,010|
|VAT recoverable||||85,423|74,258|
|Other debtors||||10,082|10,683|
|||||1,046,245|926,286|
##
##
##
|17 Credit|ors: amo|unts
falling|due within
one year|||
|---|---|---|---|---|---|
|||||2021f|2020|
|Trade creditors||||32,513|800,414|
|Other creditors||||150,731|150,639|
|Accruals||||25,180|12,674|
|Deferred|income|||413,959|482,224|
|||||622,383|1,445,951|
|||||2021|2020|
|Deferred|income at|1 April 2020||482,224|893,756|
|Resources|deferred|in the period||180,421|235,934|
|Amounts|released from previous||periods|(248,686)|(647,466)|
|Deferred|income at|year end||413,959|482,224|
##
|||2021f|2020|
|---|---|---|---|
|Land|and buildings|||
|Within|one year|58,900|38,915|
|Between one and five years||68,717|127,617|
|||127,617|166,532|
|Other||||
|Within|one year||14,738|
##
##
##
##
##
|Reconciliation ofschem
The amounts
recognised|e assets and liabilities to assets and
in the statement offinancial
position|liabilities recognised
are as follows:||
|---|---|---|---|
|||2021|2020|
|Fair value ofscheme assets||2,736,000|2,352,000|
|Present value ofdefined|benefit obligation|(4,107,000)|(3,459,000)|
|Defined benefit pension|scheme deficit|(1,371,000)|(1,107,000)|
##
|Changes|in th|e defined benefit obligation
are as follows:||
|---|---|---|---|
||||2021|
|Present|value|at start ofyear|3,459,000|
|Current|service cost||24,000|
|Interest|cost||81,000|
|Actuarial|gains and losses||603,000|
|Benefits|paid||(67,000)|
|Contributions||by scheme participants|7,000|
|Present value||at end ofyear|4,107,000|
##
##
##
|Fair value ofscheme assets
Changes
in the fair value ofscheme assets are as follows:||
|---|---|
||2021|
|Fair value at start ofyear|2,352,000|
|Interest income|56,000|
|Actuarial
gains and losses|349,000|
|Employer
contributions|39,000|
|Contributions
by scheme participants|7,000|
|Benefits paid|(67,000)|
|Fair value at end ofyear|2,736,000|
##
|The major ca|tegories ofscheme assets are as follows:|||
|---|---|---|---|
|||2021|2020|
|Cash and cash equivalents||79,000|52,000|
|Equity instruments||1,026,000|1,022,000|
|Government|bonds|386,000|132,000|
|Other Bonds||233,000|214,000|
|Property||197,000|233,000|
|Other||815,000|699,000|
|||2,736,000|2,352,000|
##
|2021|2020|
|---|---|
|405,000|(160,000)|
##
|The princ|ipal|actuarial
assumptions
at the statement o|ffinancial
position date are as follows:||
|---|---|---|---|---|
||||2021|2020|
|||||'/o|
|Discount|rate||2.10|2.40|
|Future salary||increases|4.20|3.60|
|Future pension||increases|2.80|2.20|
|Inflation|||2.70|2.10|
##
##
##
|||||2021|2020|
|---|---|---|---|---|---|
|||||Years|Years|
|Current|UK pensioners|at retirement|age - male|23.00|23.00|
|Current|UK pensioners|at retirement|age - female|25.00|25.00|
|Future|UK pensioners|at retirement|age - male|25.00|25.00|
|Future|UK pensioners|at retirement|age - female|27.00|27.00|
##
##
##
|20 Funds||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||Other||
|||||||Balance at I|Incoming|Resources||recognised|Balance at 31|
|||||||April 2020|resources
f|expended|Transfers
f|gains/(losses)
f|March 2021|
|Unrestricted||funds||||||||||
|General||||||||||||
|Unrestricted||income fund||||2,150,900|3,953,583|(3,489,125)|(283,856)||2,331,502|
|Designated
Defined benefit|||pension||scheme|~),)07,000)||(10,000)||(254,000)|(1,371,000)|
|Total unrestricted||||funds||1,043,900|3,953,583|(3,499,125)|(283,856)|(254,000)|960,502|
|Restricted|funds|||||||||||
|VKSIC|||||||322,717|(609,855)|287,138|||
|SELMA|||||||3,282||(3,282)|||
|Total restricted|||funds||||325,999|(609,855)|283,856|||
|Total funds||||||1,043,900|4279582|~44, 308980||~254,000)|900,502|
##
##
|||||Note|s to the Financial Statetnen|ts
for the Y|ear Ended 31Ma|rch 2021|||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Other||
||||||Balance at I|Incoming|Resources||recognised|Balance at 31|
||||||April 2019|resources
f|expended|Transfers
f|gains/(losses)|March 2020
f|
|Unrestricted|funds||||||||||
|General|||||||||||
|Unrestricted||income fund|||2,230,517|4,558,779|(4,300,910)|(337,486)||2,150,900|
|Design ared|||||||||||
|Defined benefit pension||||scheme|(1,024,000)||(69,000)||(14,000)|(1,107,000)|
|Total unrestricted|||funds||1,206,517|4,558,779|(4,369,910)|(337,486)|(14,000)|1,043,900|
|Restricted|||||||||||
|UKSIC
SELMA|||||~55,009|378,489
65.832|(659,678)
~(66,320|281,189
56,297|||
|Total restricted||funds|||(55,8093|444,32(|~(725,998|337,486|||
|Total funds|||||1,150,708|5,003,100|(5,095,908)||(14,000)|1,043,900|
##
##
||||||Total funds at|
|---|---|---|---|---|---|
|||Unrestricted|funds|Restricted|31 March|
|||General
f|Desigaated|funds|2021f|
|Intangible
fixed assets||8,949|||8,949|
|Tangible|fixed assets|8,208|||8,208|
|Fixed asset investments||I|||I|
|Current|assets|2,624,187||312,540|2,936,727|
|Current|liabilities|(309,843)||(312,540)|(622,383)|
|Pension|scheme liability||(1,371,000)||(1,371,000)|
|Total net assets||2,331,502|(1,371,000)||960,502|
||||||Total funds at|
|||Unrestricted|funds|Restricted|31 March|
|||General|Designated|funds|2020|
||||||f.|
|Intangible
fixed assets||9,523|||9,523|
|Tangible|fixed assets|11,713|||11,713|
|Fixed asset investments||I|||I|
|Current|assets|3,547, 199||28,415|3,575,614|
|Current|liabilities|(1,417,536)||(28,415)|(1,445,951)|
|Pension|scheme liability||(1,107,000)||(I,107,000)|
|Total net assets||2,150,900|(1,107,000)||1,043,900|
|22 Analysis ofnet funds||||||
|22 Analysis ofnet funds||||
|---|---|---|---|
||At I April|Fiaancing cash|At 31March|
||2020|flows|2021f|
|Cash at bank and in hand|2,526,250|(742,358)|1,783,892|
|Net debt|2,526,250|(742,358)|1,783,892|
||At I April|Financing
cash|At 31 March|
||2019|flowsf|2020|
|Cash at bank and in hand|2,050,337|475,913|2,526,250|
|Net debt|2,050,337|475,913|2,526,250|
##
##
##
##
|which
is unspent
at the year end and included
w|ithin
deferred income is as follows;||
|---|---|---|
||2021|2020|
|Devon|112,193|112,193|
|Glouce ster|110,363|110,363|
|Plymouth|3,403|3,403|
|8windon|12,447||
|Torbay|||
|Wiltshire|7,578|7,578|