2023-03-31-accounts

Reference and Administrative Details	Reference and Administrative Details
Trustees' Report		2 to 11
Statement ofTrustees'	Responsibilities	12
Independent Auditors'	Report	13to 16
Statement ofFinancial	Activities	17to 18
Balance Sheet		19
Statement ofCash Flows		20
Notes ofthe Financial	Statements	21 to 39

				South West G	South West G	rid for Learnin	rid for Learnin	g Trust	g Trust
				Reference and		Administrative		Details
Trustees:				RBond
				A C Coghlan
				CMcdonald
				S Smith
				A EBrittan
				JBriscombe
				MEBlackman (resigned			23 May 2022)
				I Daniells (appointed 6June 2022)
				H EPorter
				A D Phippen
Secretary				R Bond
Registered	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				Michelmores		LLP
				Woodwater	House
				Pynes Hill
				Exeter
				EX25WR
Bankers				Lloyds TSBBank Plc
				234 High Street
				Exeter
				Devon
				EX43ZB
Auditor				Thompson	Jenner LLP
				Statutory Auditors
				28 Alexandra		Terrace
				Exmouth
				Devon
				EX8 IBD

				and Lo	sses)
					Unrestricted	Restricted	Total
					funds	funds	2023
				Note
Income and Endowments			from:
Charitable activities					1,075,383	2,289,450	3,364,833
Investment income					10,220		10,220
Other income					14,585		14,585
Total income					1,100,188	2,289,450	3,389,638
Expenditure on: Charitable activities					(882,933)	~(2,289,450	~3,172,383
Total expenditure					~(882,933	~2,289,450	~(3,(72,383
Net income					217,255		217,255
Other recognised	gains	and losses
Actuarial gains/(losses)		on defined benefit
pension schemes					513,800		513,800
Net movement in funds					731,055		731,055
Reconciliation offunds
Total funds brought	forward				1,640,324		1,640,324
Total funds camed	forward			20	2,371,379		2,371,379

					Unrestricted	Restricted	Total
					funds	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				5	~2,021,109	~1,195,937	~3,217,046
Total expenditure					(2,021,109)	(1,195,9373	~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

			Balan	ce Sheet as at	31March 202	3
						2023	2022
					Note
Fixed assets
Intangible assets					12	2,601	5,775
Tangible assets					13	19,633	20,646
Investments					14	1	1
						22,235	26,422
Current assets
Stocks					15		16,354
Debtors						460,032	773,116
Cash at bank	and in hand					3,163,797	3,211,438
						3,623,829	4,000,908
Creditors: Amounts		falling	due within	one year	17	(1,274,685)	(1,313,006)
Net current	assets					2,349,144	2,687,902
Net assets excluding		pension	liability			2,371,379	2,714,324
Pension scheme liability					19		(1,074,000)
Net assets including		pension	liability			2,371,379	1,640,324
Funds ofthe	charity:
Unrestricted	income	funds
Unrestricted						2,371,379	1,640,324
Total funds					20	2,371,379	1,640,324

Statement		ofCash Flows	for the Year	Ended	31March 2023
					2023	2022
				Note
Cash flows from operating	activities
Net cash income					731,055	679,822
Adjustments to cash flows from non-cash items
Depreciation					11,162	9,240
Amortisation Investment income				4	3,174 ~70,220	3,174 ~127
					735,171	692,109
Working capital adjustments
Decrease in stocks				15	16,354	90,236
Decrease in debtors				16	313,084	273,129
(Decrease)/increase in creditors				17	(81,426)	469,884
Increase/(decrease) in retirement benefit obligation			net ofactuarial
changes				19	(1,074,000)	(297,000)
Increase in deferred income					43,105	220,739
Net cash flows from operating		activities			~47,7127	1,449,097
Cash flows from investing activities
Interest receivable and similar income Purchase oftangible fixed assets Net cash flows from investing activities				4 13	10,220 ~10,149 71	127 ~21,678 ~21,551
Net (decrease)/increase in cash		and cash equivalents			(47,641)	1,427,546
Cash and cash equivalents at	1	April			3,211,438	1,783,892
Cash and cash equivalents at	31March				3,163,797	3,211,438

costs ofthe central function, is apportion the amount attributable to each activity.	ed on the following basi	s which
	2023	2022
Online Safety	80%	51%
Barefoot	5%	21%
Licencing	5%	5%
Schools Internet Service	10%	23%

	Unrestricted
	funds	Restricted	Total	Total
	General	funds	2023	2022
Online Safety	402,436	2,289,450	2,691,886	1,819,144
Barefoot	48,069		48,069	193,992
Licencing	174,124		174,124	122,300
Schools Internet Service	449,209		449,209	1,446,305
Operational	1,545		1,545
	1,075,383	2,289,450	3,364,833	3,581,741

	Activity
	undertaken	Activity
	directly	support costs	2023	2022
Online Safety	2,229,883	277,279	2,507,162	1,479,014
Barefoot	45,368	17,330	62,698	232,042
Licencing	123,336	17,330	140,666	116,660
Schools Internet Service	427,197	34,660	461,857	1,389,330
	2,825,784	346,599	3,172,383	3,217,046

	Unrestricted
	funds	Restricted	Total	Total
	General	funds	2023	2022
	f,
Online Safety	217,712	2,289,450	2,507,162	1,479,014
Barefoot	62,698		62,698	232,042
Licencing	140,666		140,666	116,660
Schools Internet Service	461,857		461,857	1,389,330
	882,933	2,289,450	3,172,383	3,217,046

				Total	Total
				2023	2022
Employment	costs			126/10	183,215
Establishment	costs			120,935	114,110
Legal and Professional				53,324	42,357
Travel and subsistence				836	370
Computer expenses				43,848	31,451
Advertising	and promotion			70	225
Bad debt provision				1,376	7
				346,599	371,735
Governance	costs
				Total	Total
				2023	2022
Audit fees
Audit ofthe financial		statements		12,000	11,100
Other fees	paid to auditors			1,496	3,980
				13,496	15,080
7 Net incoming/outgoing			resources
Net incoming	resources	for	the year include:
				2023	2022
Operating leases - other		assets		66,230	64,386
Audit fees				12,000	11,100
Other non-audit services				7,970	13,911
Depreciation	offixed assets			14,335	11,664
Amortisation	ofsoftware			3,174	3,174

9 Staffcosts The aggregate payroll costs were as follows:
	2023	2022
Staffcosts during the year were:
Wages and salaries	1,023,320	854,936
Social security costs	104,919	82,061
Pension costs	163,048	77,290
	1,291,287	1,014,287

charity during the year expressed as full time eq	uivalents was as follows:
	2023		2022
	No		No
Administration		33		32

2023	2022
No	No

10 Auditors' remuneration
	2023	2022
Audit ofthe financial statements	12,000	11,100
Other fees to auditors
All other non-audit services	7,970	10,411
11 Taxation
The charity is a registered charity and is therefore exempt from taxation.

12 Intangible fixed assets
	Software	Total
Cost
At 1 April 2022	15,868	15,868
At 31March 2023	15,868	15,868
Amortisation
At 1 April 2022	10,093	10,093
Charge for the year	3,174	3,174
At 31March 2023	13,267	13,267
Net book value
At 31March 2023	2,601	2,601
At 31March 2022	5,775	5,775

13 Tangible fixed assets
				Furniture and
				equipment	Total
				f,
Cost
At 1 April 2022				136,763	136,763
Additions				10,149	10,149
At 31March 2023				146,912	146,912
Depreciation
At 1 April 2022				116,117	116,117
Charge for the year				11,162	11,162
At 31March 2023				127,279	127,279
Net book value
At 31March 2023				19,633	19,633
At 31March 2022				20,646	20,646
14 Fixed asset investments
				2023	2022
					f,
Shares in group undertakings	and participating	interests
Shares in group undertakings	and participating		interests
				Subsidiary
				undertakings	Total
Cost
At 1 April 2022
At 31March 2023
Net book value
At 31March 2023
At 31March 2022				1	1

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

15 Stock
	2023	2022
Stocks		16,354
16 Debtors
	2023	2022
Trade debtors	129,344	146,287
Prepayments	47,648	115,438
Accrued income	44,705	439,843
VAT recoverable	35,413	44,473
Other debtors	202,922	27,075
	460,032	773,116

17 Credi	tors: am	ounts falling	due within one year
				2023f	2022f
Trade creditors				371,050	475,014
Other creditors				203,575	165,178
Accruals				22,257	38,116
Deferred	income			677,803	634,698
				1,274,685	1,313,006
				2023f	2022f
Deferred	income at 1 April 2022			634,698	413,959
Resources Amounts	deferred released	in the period &om previous	periods	431,820 ~388,713	388,715 ~167,976
Deferred	income at year end			677,803	634,698

Total future minimum lease payments under non-cancel	lable operating leases are as follows:
	2023f	2022f
Land and buildings
Within one year	9,817	58,900
Between one and five years		9,817
	9,817	68,717
Other
Within one year	7,330	7,330
Between one and five years	4,886	12,216
	12,216	19,546

The amounts recognised in the statement offinancial position	are as follows:
	2023	2022
Fair value ofscheme assets Present value ofdefined benefit obligation Defined benefit pension scheme deficit		2,941,000 ~4,017,000 ~1,074,000)

20 Funds
		Balance at 1	Incoming	Resources		Other	Balance at31
		April 2022	resources f	expended	Transfers f	gains/(losses) f	March 2023
Unrestricted funds
General
Unrestricted income fund		2,714,324	1,100,188	(832,533)	(610,600)		2,371,379
Designated Defined benefit pension scheme		1,074,000		~50,400	610,600	513,800
Total unrestricted	funds	1,640,324	1,100,188	~882,933		513,800	2,371,379
Restricted funds
UKSIC			7,662	(7,662)
Nominet Grant			640,740	(640,740)
TikTok Grant			55,822	(55,822)
Tides Foundation	Grant		5,168	(5,168)
Inspire Scotland	Grant		55,646	(55,646)
Pershing Grant			63,479	(63,479)
META/F acebook			163,470	(163,470)
Home Office Grant - RP			150,000	(150,000)
Home Office Grant- HSBSS DCMS - Minerva Project			295,827 851,636	(295,827) ~851,636
Total restricted funds			2,289,450	~2,289,450
Total funds		1,640,324	3,389,638	~3,172,383		513,800	2,371,379

	Notes to	the Financial Stateme	nts for the Y	ear Ended 31M	arch 2023
						Other
		Balance at 1	Incoming	Resources		recognised	Balance at31
		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	~2,02),109)	~)48,900)	315,000	1,640,324
Restricted
UKSIC			489,711	(638,611)	148,900
Support, Hear, Hope - Comic Relief Grant			69,975	(69,975)
TikTok Grant			33,155	(33,155)
Tides Foundation	Grant		15,503	(15,503)
Inspire Scotland Grant			24,656	(24,656)
Home Office Grant- HSBSS DCMS - Minerva Project Total restricted funds			258,353 155,684 1,047,037	(258,353) ~)55,684) ~),195,937	148,900
Total funds		960,502	3,581,868	3,217,046		315,000	1,640,324

21 Analysis ofnet assets betwee	n funds
				Total funds at
	Unrestricted	funds	Restricted	31March
	General f	Designated E	funds g	2023
Intangible fixed assets	2,601			2,601
Tangible fixed assets	19,633			19,633
Fixed asset investments	1			1
Current assets	3,393,936		229,893	3,623,829
Current liabilities	(1,044,792)		(229,893)	(1,274,685)
Total net assets	2,371,379			2,371,379
				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 Pension scheme liability Total net assets	(1,032,733) ~(1,074,000 2,714,322 ~1,074,000		(280,274)	(1,313,007) ~(1,074,000 1,640,322
22 Analysis ofnet funds
		At 1April	Financing cash	At 31March
		2022	flows	2023
Cash at bank and in hand		g 3,211,438	~47,641	3,163,797
Net debt		3,211,438	47,641	3,163,797
		At 1April	Financing cash	At 31March
		2021 g	flows	2022f
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

which is unspent at the year end and included	within deferred income is as follows;
	2023	2022
Devon	112,193	112,193
Gloucester	110,363	110,363
Plymouth	3,403	3,403
Swindon	12,447	12,447
Torbay		1
Wiltshire	7,578	7,578