2022-03-31-accounts

Reference and Administrative Details	Reference and Administrative Details
Trustees' Report		2 to 14
Statement ofTrustees'	Responsibilities
Independent Auditors'	Report	16to 18
Statement ofFinancial	Activities	19to 20
Balance Sheet		21
Statement ofCash Flows		22
Notes ofthe Financial	Statements	23 to 44

			South West Grid for	South West Grid for	South West Grid for	Learning Trust	Learning Trust	Learning Trust	Learning Trust
			Reference and	Administrative Details
Trustees			R Bond
			A C Coghlan
			PFletcher (resigned			1	December 2021)
			C Mcdonald
			S Smith
			SP Taylor (resigned			15June 2021)
			A EBrittan
			JBriscombe
			MEBlackman (appointed					15April 2021 and resigned 23 May 2022)
			I Daniells (appointed			6June 2022)
			H EPorter (appointed				29	March 2022)
			A D Phippen	(appointed 29March 2022)
Secretary			RBond
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
Scotland	Charity Registration		SC051351
Number
Solicitors			Shoosmiths	LLP
			West One
			114Wellington Street
			Leeds
			Lsl 1BA
Bankers			Lloyds TSBBank Pic
			234 High Street
			Exeter
			Devon
			EX43ZB
Auditor			Thompson Jenner LLP
			Statutory Auditors
			28 Alexandra	Terrace
			Exmouth
			Devon
			EX8 1BD
				Page	1

			and Los	ses)
				Unrestricted	Restricted	Total
			Note	fundsf	funds	2022
Income and Endowments		from:
Charitable activities				2,534,704	1,047,037	3,581,741
Investment income				127		127
Total income				2,534,831	1,047,037	3,581,868
Expenditure on:
Charitable activities				(2,021,109)	(1,195,937)	(3,217,046)
Total expenditure				(2,021,109)	~(1,195,937	~3,217,046)
Net income/(expenditure)				513,722	(148,900)	364,822
Transfers between funds				(148,900)	148,900
Other recognised gains	and losses
Actuarial gains/(losses)	on	defined benefit
pension schemes				315,000		315,000
Net movement in funds				679,822		679,822
Reconciliation offunds
Total funds brought forward				960,502		960,502
Total funds carried forward			20	1,640,324		1,640,324

Comparative	St	ate	ment ofFinanc	ial Act	ivities for the Y	ear Ended 31Ma	rch 2021
					Unrestricted	Restricted	Total
					funds	funds	2021
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 offunds
Total funds brought	forward				1,043,900		1,043,900
Total funds carried	forward			20	960,502		960,502

			Balance Sheet as at	31March 202	2
					2022	2021
				Note
Fixed assets
Intangible assets				12	5,775	8,949
Tangible assets				13	20,646	8,208
Investments				14	1	1
					26,422	17,158
Current assets
Stocks				15	16,354	106,590
Debtors				16	773,116	1,046,245
Cash at bank	and in hand				3,211,438	1,783,892
					4,000,908	2,936,727
Creditors: Amounts		falling	due within one year	17	(1,313,006)	(622,383)
Net current	assets				2,687,902	2,314,344
Net assets excluding		pension	liability		2,714,324	2,331,502
Pension scheme liability				19	(1,074,000)	1,371,000)
Net assets including		pension	liability		1,640,324	960,502
Funds ofthe	charity:
Unrestricted	income	funds
Unrestricted					1,640,324	960,502
Total funds				20	1,640,324	960,502

					2022	2021
				Note
Cash flows from operating activities
Net cash income/(expenditure)					679,822	(83,398)
Adjustments to cash flows from non-cash		items
Depreciation					9,240	6,768
Amortisation					3,174	2,802
Investment income					(127)	(2,785)
					692,109	(76,613)
Working capital adjustments
Decrease in stocks				15	90,236	16,488
Decrease/(increase) in debtors				16	273,129	(119,959)
Increase/(decrease) in creditors				17	469,884	(755,303)
Increase/(decrease) in retirement benefit obligation			net ofactuarial
changes				19	(297,000)	264,000
Increase/(decrease) in deferred	income				220,739	(68,265)
Net cash flows from operating	activities				1,449,097	(739,652)
Cash flows from investing activities
Interest receivable and similar	income			4	127	2,785
Purchase ofintangible fixed assets				12		(2,228)
Purchase oftangible fixed assets				13	(21,678)	(3,263)
Net cash flows from investing	activities				21,551	(2,706)
Net increase/(decrease) in cash	and cash equivalents				1,427,546	(742,358)
Cash and cash equivalents at 1	April				1,783,892	2,526,250
Cash and cash equivalents at 31 March					3,211,438	1,783,892

costs ofthe central function, is apportione the amount attributable to each activity.	d on the following basi	s which
	2022	2021
E - Safety	42%	40%
UK Safer Internet Centre	9%	11%
Barefoot	21%	21%
Licencing	5%	5%
Schools Internet Service	23%	23%

	Unrestricted
	funds	Restricted	Total	Total
	General	funds	2022	2021
E-Safety	772, 107	557,326	1,329,433	759,730
UK Safer Internet Centre		489,711	489,711	322,717
SELMA				3,282
Barefoot	193,992		193,992	380,054
Licencing	122,300		122,300	220,854
Schools Internet Service	1,446,305		1,446,305	2,590,160
	2,534,704	1,047,037	3,581,741	4,276,797

	Activity
	undertaken	Activity
	directly	support costs	2022	2021
E-Safety	685,377	155,026	840,403	489,180
UK Safer Internet Centre	604,052	34,559	638,611	609,855
Barefoot	153,978	78,064	232,042	316,338
Licencing	98,073	18,587	116,660	210,424
Schools Internet Service	1,303,831	85,499	1,389,330	2,483,183
	2,845,311	371,735	3,217,046	4,108,980

	Unrestricted
	funds	Restricted	Total	Total
	General	funds	2022	2021
E-Safety	283,077	557,326	840,403	489,180
UK Safer Internet Centre		638,611	638,611	609,855
Barefoot	232,042		232,042	316,338
Licencing	116,660		116,660	210,424
Schools Internet Service	1,389,330		1,389,330	2,483,183
	2,021,109	1,195,937	3,217,046	4,108,980

			Unrestricted
			funds
				Restricted	Total	Total
			General	funds	2022	2021
Employment		costs	166,158	17,057	183,215	217,587
Establishment		costs	103,486	10,624	114,110	113,424
Legal and	Professional		38,413	3,944	42,357	35,767
Travel and	subsistence		335	35	370	898
Computer	expenses		28,523	2,928	31,451	24,231
Advertising		and promotion	204	21	225
Bad debt provision			7		7
			337,126	34,609	371,735	391,907

		Unrestricted
		funds	Total	Total
		General	2022	2021
Audit fees
Audit ofthe financial	statements	11,100	11,100	11,200
Other fees paid to auditors		3,980	3,980	3,186
		15,080	15,080	14,386

Net incoming	re	sources for the year include:
			2022	2021
Operating leases		- other assets	64,386	71,492
Audit fees			11,100	11,200
Other non-audit		services	13,911	10,817
Depreciation	of	fixed assets	11,664	7,311
Amortisation	of	soAware	3,174	2,802

9 Staff costs The aggregate payroll costs were as follows:
	2022	2021
Staffcosts during the year were:
Wages and salaries	854,936	886,351
Social security costs	82,061	86,916
Pension costs	77,290	70,195
	1,014,287	1,043,462

2022		2021
No		No
	32		32

2022	2021
No	No

10 Auditors' remuneration
	2022	2021
Audit ofthe financial statements	11,100	11,200
Other fees to auditors
All other non-audit services	10,411	10,817
11Taxation
The charity is a registered charity and is therefore exempt from taxation.

12 Intangible fixed assets
	Software	Total
Cost
At 1 April 2021	15,868	15,868
At 31 March 2022	15,868	15,868
Amortisation
At 1 April 2021	6,919	6,919
Charge for the year	3,174	3,174
At 31March 2022	10,093	10,093
Net book value
At 31March 2022	5,775	5,775
At 31March 2021	8,949	8,949

13 Tangible fixed assets
				Furniture and
				equipment	Total
Cost
At 1 April 2021				115,085	115,085
Additions				21,678	21,678
At 31March 2022				136,763	136,763
Depreciation
At 1 April 2021				106,877	106,877
Charge for the year				9,240	9,240
At 31 March 2022				116,117	116,117
Net book value
At 31March 2022				20,646	20,646
At 31March 2021				8,208	8,208
14 Fixed asset investments
				2022	2021
Shares in group undertakings	and participating	interests
Shares in group undertakings	and participating		interests

Subsidiary
undertakings	Total

capital are a	s follows:
			Proportion ofvoting
			rights and shares
Undertaking		Holding	held	Principal activity
Subsidiary	undertakings
Edtesa Limited		Ordinary	100%	Dormant

15 Stock
	2022	2021
Stocks	16,354	106,590
16 Debtors
	2022	2021
Trade debtors	146,287	183,886
P repayments	115,438	360,548
Accrued income	439,843	406,306
VAT recoverable	44,473	85,423
Other debtors	27,075	10,082
	773,116	1,046,245

17 Credi	tors: am	ounts falling	due within one year
				2022	2021
Trade creditors				475,014	32,513
Other creditors				165,178	150,731
Accruals				38,116	25,180
Deferred	income			634,698	413,959
				1,313,006	622,383
				2022	2021
Deferred	income at 1 April 2021			413,959	482,224
Resources	deferred	in the period		388,715	180,421
Amounts	released	from previous	periods	(167,976)	(248,686)
Deferred	income at year end			634,698	413,959

Total future minimum lease payments under non-cancell	able operating leases are as follows:
	2022	2021
Land and buildings
Within one year	58,900	58,900
Between one and five years	9,817	68,717
	68,717	127,617
Other
Within one year	7,330
Between one and five years	12,216
	19,546

Reconciliation ofscheme assets and liabilities to assets and l The amounts recognised in the statement offinancial position	iabilities recognised are as follows:
	2022	2021
Fair value ofscheme assets	2,941,000	2,736,000
Present value ofdefined benefit obligation	(4,015,000)	(4,107,000)
Defined benefit pension scheme deficit	(1,074,000)	(1,371,000)

Changes in th	e defined benefit obligation are as follows:
		2022
Present value	at start ofyear	4,107,000
Current service cost		27,000
Interest cost		85,000
Actuarial gains and losses		(103,000)
Benefits paid		(107,000)
Contributions	by scheme participants	6,000
Present value	at end ofyear	4,015,000

Fair value ofsrheme assets Changes in the fair value ofscheme assets are as follows:
	2022
Fair value at start ofyear	2,736,000
Interest income	57,000
Actuarial gains and losses	212,000
Employer contributions	37,000
Contributions by scheme participants	6,000
Benefits paid	(107,000)
Fair value at end ofyear	2,941,000

The major ca	tegories ofscheme assets are as follows:
		2022	2021
Cash and cash equivalents		47,000	79,000
Equity instruments		1,190,000	1,026,000
Government	bonds	365,000	386,000
Other Bonds		221,000	233,000
Property		197,000	197,000
Other		921,000	815,000
		2,941,000	2,736,000
Return on scheme assets
		2022	2021
Returnon scheme assets		269,000	405,000

The principal actuarial	as	sumptions	at the statement offinancial p	osition date are as follows:
				2022	2021
				o/o	o/o
Discount rate				2.80	2.10
Future salary increases				4.80	4.20
Future pension increases				3.40	2.80
Inflation				3.30	2.70
Post retirement mortality		assumptions
				2022	2021
				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
					Balance at 1	Incoming	Resources		Other	Balance at 31
					April 2021	resources	expended	Transfers	gains/(losses)	March 2022
Unrestricted funds
General
Unrestricted income fund					2,331,502	2,534,831	(2,003,109)	(148,900)		2,714,324
Designated
Defined	benefit pension	scheme			(1,371,000)		(18,000)		315,000	(1,074,000)
Total unrestricted funds					960,502	2,534,831	(2,021,109)	(148,900)	315,000	1,640,324
Restricted	funds
UKSIC						489,711	(638,611)	148,900
Support,	Hear, Hope - Comic Relief Grant					69,975	(69,975)
Professional Online Safety Helpline - TikTok Grant						33,155	(33,155)
Revenge	Porn Helpline	- Tides Foundation		Grant		15,503	(15,503)
Revenge	Porn Helpline	(Scotland) - Inspire		Scotland
Grant						24,656	(24,656)
Harmful	Sexual Behaviour		Support Service	- Home
Office Grant						258,353	(258,353)
Minerva	Project - Digital Culture Media and Sport Grant					155,684	(155,684)
Total restricted funds						1,047,037		148,900
Total funds					960,502	3,581,868	(3,217,046)		315,000	1,640,324

				Balance at 1	Incoming	Resources		Other	Balance at 31
				April 2020	resources	expended	Transfers	gains/(losses)	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		(1,107,000)				(254,000)	(1,371,000)
Total unrestricted			funds	1,043,900	3,953,583	3,499,125)	283,856)
Restricted
UKSIC					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	4,279,582	4,108,980)		(254,000)	960,502

21 Anal	ysis ofnet assets betwee	n funds
						Total funds at
		Unrestricted	funds	Restricted		31March
		General	Designated	funds		2022
Intangible fixed assets		5,775				5,775
Tangible	fixed assets	20,646				20,646
Fixed asset investments		1				1
Current	assets	3,720,633		280,274		4,000,907
Current	liabilities	(1,032,733)		(280,274)		(1,313,007)
Pension	scheme liability		(1,074,000)			(1,074,000)
Total net assets		2,714,322	(1,074,000)			1,640,322
						Total funds at
		Unrestricted	funds	Restricted		31March
		General	Designated	funds		2021
Intangible fixed assets		8,949				8,949
Tangible	fixed assets	8,208				8,208
Fixed asset investments		1				1
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
22 Analysis ofnet funds
			At 1 April	Financing	cash	At 31March
			2021	flows		2022
Cash at	bank and in hand		1,783,892	1,427,546		3,211,438
Net debt			1,783,892	1,427,546		3,211,438
			At 1 April	Financing	cash	At 31March
			2020	flows		2021
Cash at	bank and in hand		2,526,250	742,358)		1,783,892
Net debt			2,526,250	(742,358)		1,783,&92

	2022	2021
	f,
Devon	112,193	112,193
Gloucester	110,363	110,363
Plymouth	3,403	3,403
Swindon	12,447	12,447
Torbay
Wiltshire	7,578	7,578