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|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||||||
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|||||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|
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|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%|
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||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|
##
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##
||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|
##
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|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|
##
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##
|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|