Company registration number". 05589479 Charitable company registration nurnber in England & Wale5.' 1120354 Charity registration number in Scotland: SC051351 CJSWGfL Safe, Secure, Online South West Grid for Learning Trust (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March ?0?5 Thompson Jenner LLP Statutory Auditors 28 Alexandra Teace Exmouth Devon EX8 IBD
South West Grid for Learning Trust Contents Reference and Administralive Details lio? TSlee$ Report 3to9 Statemenl of Trustees, Responsibilities io Independent Auditors, Report 11 to 14 Ststement of Financial Activities 15to 16 Balance Sheet 17 Statemenl of Cash Flows Notes to the Financial Statements 19to36
South West Grid for Learning Trust Reference and Administrative Details Trustees . R Bond A C Coghlan C Mcdonald S Smith (resigned ? July A E Brittan (resigned 9 September ?0?4) J Briscombe l Daniells H E Porter A D Phippen K Nain (appointed 3 April ?0?4) J Hanna (appointed I I September ?0?4) S James (appointed I I September ?0?4) M Perry {appointed I I September ?0?4) J Woodward (appoinled ? July ?0?5) Secrelary S Slee Senior Management l Leadership D Wright CBE. (CEO) Te#m S Slee C Hayden K Corish B Radanovi M Kenneally Registered Office Belvedere House Woodwater Park Pynes 14111 F.xeter EX? 5WS The charitable company is incorporaled in England and Wales. Page I
South West Grid for Learning Trust Reference and Administrative Details Company Registration Number 05589479 Charitgble company Registration Iyumber 1120354 Seolland Charily Registration Number SC051351 Solicitors Michelmores LLP Woodwaler House PyiiLs H ill Exeter EX? 5WR Bankers Lloyds TSB Bank PIC ?34 High Street Exeter Devon EX4 3ZB Auditor Thompson Jenner LLP Statutory Auditors ?8 Alexandra Terrace l.'xmouth Devon EX8 IBD Page 2
South West Grid for Learning Trust Trustees Report The Trustees present their report and the financial statements for the year ended 31 March ?025. The Trustees, who are also direclors for the purposes of company law, served during the year and up to the date of this report. This report outlines the activities undertaken by the South West Grid for Leaming Trusl (SWGtL} during the year in pursuit of its charitable objectives. The narrdtive draw's on the monthl). updates provided by the team and incorporates noiable developments between April ?0?4 and Augusl ?024. ensuring that the Trustees receive an up to date record of the charity's perforniance. The past year has witnessed rapid change in the online safety landscape. SWGtL continued to play a pivotal role in proiecting and empowering children. families and professionals. Legislative developments such as the implementation of the UK Online Safety Act. the emergence of new technologies such as generative artificial intelligence. and changes in intemational human righis frameworks shaped the charity'5 work. A ten-year anniversary of the Revenge Porn Helpline took place in May ?025, while the organisation prepared to celebrate its 95-year anniversary in October ?025. Durkng the year, SWGfL obtained Special Consultative Status with the United Nations Economic and Social Council (ECOSOC} and prepared for the global rollout of the Global Clearing Centre projecl. The Trust also strengthened its strategic plan for 2026. demonstrating a commitment lo long temi sustainability. Online Safety Services Helplines and Reporting Services Demand for SWGfL's helplines continued to grom.. The Revenge Porn Helpline (RPH) marked its tenth anniversary in May ?0?5 and handled almost 19,000 reports during ?023. representing a 106 0/0 year on year increase. As reported in August ?024. the service removed more than 300.000 non consensually shared images and achieved a 90 % removal rate. however. around 10 0/0 of reported content remains online because some websites operate from jurisdictions where taked014 requests cannot be enforced. Evidence presented to the UK Women and Equalities Committee in May ?0?4 highlighted that women were 18 times more likely to experience nonconsensual intimat¢ image abuse. thai 30.000 URLS remained accessible and that legal loopholes allow such malerial to persisi The #NotYoursToView campaign was launched lo call for legislalive retomi. Report Harmful Content (RHC) continued lo provide support to users whose reports had been rejected by platfornis. The UK Safer Intemet Centre {UKSIC) manifesto released on l July ?0?4 noted that RHC experienced a 31 0/0 increase in cases aThd achieved an 89 % removal rate during the year. An August ?0?4 article reminded users encountering hannful material online to remain calm. gaiher evidence such as screenshots. follow platfom reporting procedures and contact RHC only if the platforn) fails lo act within 48 hours. The Rei)'a chaibot continued to support both the RPH and RHC services, handling thousands of enquiries and enabling trend analysis. The Professionals Online Safety Helpline (POSH) continued to provide advice to those working with children. The service experienced high demand following high profile incidents of sextortion. In April ?024 the Nalional Crime Agency issued an alert lo schools about financially motivated sextortion. SWGtL assisted by encouraging victims lo report incidents and by signposting to prevention tools such as StopNCII.org. Report Remove and Take It Down. The POSH team also delivered bespoke training sessions ihroughout the year. Project Ember. a research study nded by Safe Online and led by SWGfL was launched. The study explores the online experiences of young people (13-?4 years}, particularly how, they view and respond lo harniful online behaviours. The aim is 10 reach a diverse group of young people acr05S the UK to better understand the challenges they face online. their understanding and views about reporting online harn]ful behaviour and improve the support services available to them and legal advocacy. Page 3
South West Grid for Learning Trust Trustees Report StopNCII.org remained a cornerstone of SWGtL's international work. The service enables adult victims of nonconsensual intimate itnage abuse to generate unique hashes of their images and submil them to participating technology companies to prevent publication. In May ?0?4 StopNCII.org was named a finalisi for the Digital Technology Leaders Awards for its innovative use of hashing technologj.. By Augusl ?0?4 the plaifonn had helped more than 300.000 individuals and protected over 800.000 images and videos. Industry partnership continued lo expand. '1th Patreon joining in April ?0?5 and Microsoft Bing partnering in September ?024. StopNCII.org is now supported by major platfonns including Meta (Facebook. Instagram and Threads). TikTok. Bumble, Reddit. OnlyFans, Aylo, Snap. Nianlic and Microsoft. SWGtL'5 advocacy work contributed io national debates on nonconsensual intimate image abuse. During parliamentary evidence sessions in May ?024. SWGfL highlighted that 10 0/0 of reported inlimate image ¢onlent remains publicly accessible and thai 30,000 URLS continue to host illegal images because the content is technically laivful under current stalutes. This evidence infomied proposed amendments to the Criminal Justice Bill later in ?0?5. The UKSIC manifesto called for nonconsensual intimate image content to be made illegal and treated with the same urgency as child sexual abuse material. Safer Internet Day 2024 Safer Inlemet Day (SID) ?0?4 'aS held on 6 February 20?4 and focused on the theme 'lnspiring changeg Making a difference, managing influence and navigating change online" An impact report published in Maj. 20?4 showed thai SID reached 53 0/0 of children aged 8-17, generated over 1.6 million film views and prompted 96.000 resource downloads. Feedback from educators indicated thal 95 0/0 of students feli more confident about staying safe online after participating. and 73 0/0 of stafT reported increased confidence in addressing online safety issues. These outcomes demonstrate the continued importance of SID in raising awareness of online risks. Sextortion awareness The last year saw a surge in sextortion cases. particularly targeting male victims. In April ?0?4 ITV News visited the Revenge Pom Helpline lo report on this Irend. The report emphasised that victims should not pay blackmailers and that many scams are orchestrated by organised overseas gangs. SWGfL produced guidance for parents. carers and professionals on recognising the signs of sextortion and using helplines for support. Ottline Safety Tools and Services Training and profe55ional development The Trust continued to deliver high quality training sessions lo professionals. parents and young people. Online Safety Live events and Online Safety Clinics provided updates on eTnerging issues such as artificial inlellig¢n¢e. sexting, grooming and cyberbullying. A July ?0?4 article announced new trnining sessions for autumn covering Al in education, responding to harniful sexual behaviour, sextortion and online radicalisatioii. Across the year SWGIL delivered hundreds of sessions, reaching thousands of participants and maintaining strong evaluation leedback. Page 4
South West Grid for Learning Trust Trustees Report 360 Degree Safe and Online Safety Mark 360 Degree Safe remained the Trust's flagship School improvement tool, enabling schools to review and develop iheir online safety policies. During the year the plaifonn surpassed 16,900 registered schools, representing over half of all UK schools, and the number of assessments conducted via the platforni exceeded 3.7 million. In July ?0?4 the 500th Online Safety Mark was awarded, celebrating schools that demonstrate exceptional online safety practice. The annual assessment report continued to provide unique insights into school policy and was used to inforni national safeguarding strategy. Project EVOLVE Project EVOLVE continued to revolutionise online safety education. Regislration surpassed 17,000 schools and 85.000 educators by August ?024. with over 4 million knowledge map assessments completed. The platforni's annual report, released in October ?024, highlighted these achievements. Project EVOLVE EDU. a professional developmenl toolkit launched in April ?024. safeguarding and Al policy template for schools was released in March ?0?5 to help educational Settings navigate generative Al and mainlain compliance with new guidance. along wilh a new safeguarding training tool, ProjectEVOL VE Safeguarding. which incorporated a new Incident Response Tool. Work is underway to create an Al version of the tool for DSLS. Assisted Monitoring Service and Whisper The Assisted Monitoring Service (AMS) supports schools in meeting statutory filtering and monitoring requirements by analysing device level activity and flagging hannful contenl. An April ?0?4 article highlighted how the service helps schools comply wilh the Department for Education's filtering and monitoring standards. Throughout ?024, up to end of March 25 the number of schools subscribed to AMS continued to grow. Whisper. the anonymous reporting tool. continued io enable children and young people to report concerns securely. The service was promoted through a campaign in July ?0?4 and rernained a key componenl of the Trust's safeguarding offering Synthetic Media Hub and Gaming Guidance In July ?094 SWGtL launched Ihe Synthetic Media Hub to raise awareness of deepfakes and other synthetic content. Research reported that one in seven adults had encountered synthetic media and that 39 0/0 of children aged 8-15 had seen deepfake Scam adverts. The hub provides guidance on understanding synthetic sexual content. relevant legislation and reporting mechanisms. it signposts users to services such as Report Harniful Content. Ihe Professionals Online Safety Helpline. StopNCII.org and the Revenge Pom Helpline. Accompanying articles explored positive applications of synthetic media-including Al translation, accessibility. healthcare and environmental conservation to help educators balance innovation with safety. As virtual reality (VR) gaming became more accessible. SWGtL published guidance explaining its benefits and risks. An August ?0?4 article highlighted the potenlial of VR to encourage physical activity and experieniial learning but stressed the importance of age rdtings. screentime limits and moderntion of online interaciions. The guidance signposted users to the SWGfL Gaming Hub for further support. Page 5
South West Grid for Learning Trust Trustees Report Other online resources SWGtL continued to maintain a rdnge of free resources, including Swiggle (a safer search engine for primary aged children) and platform checklists. Strategic Work and Advocacy Policy engagement and government relations SWGtL remained highly engaged with policymakers. Evidence gathered by the helplines infonned parliamentary debates, including at MP droTrin sessions in June 20?4 where legislative changes were proposed lo enhance protections for victims of intimate image abuse. The UKSIC manifesto launched in July ?024 set oul a five-point plan calling for nonconsensual intimate images to be made illegal, sustainable funding for the UK Safer Inlemei Centre, youth centrtc policy, effective implementation of the Online Safety Act and strengthened online safety practice in schools. SWGfL continued to support the Department for Education in developing filtering and monitoring standards and engaged .]lh Ofcom on ihe enforcement of the Children's Codes. Inlemational engagement remained a priority- SWGtL supported the United Nations Internalional Telecommunication Union (ITU) through the Child Online Proleclion Initiative and contributed io the World Economic Forum's Global Coalition on Digital Safety. In April ?0?5 SWGtL co-h05ted a Non-consensual Inlimale Image (NCII) summit in New York with the United Nations Ofyice on Drugs and Crime and Microsoft. producing a major global report. The charity also provided training in the Dominican Republic and continued to work with European partners through the InsafellNHOPE network. Recognition and leadership The Charity and ils leaders received significant recognition during Ihe year. In June ?0?4 the UK Government announced Ihat SWGfL CEO David Wright would receive a Commander ol the Order of the British Empire (CBE) for services lo children's online safety; the award acknowledged his role in creating tools such as 360 Degree Safe. the Professionals Online Safety Helpline. the Revenge Porn Helpline, Report Hamful Content, StopNCII.org and the UK Safer Intemet Centre. In May ?024, StopNCII.org was shortlisted for the Digital Technology Leaders Awards and in December ?0?4 the platfonn went on lo win both the UK IT Industry Award and a Tech tor Good award. Research and thought leadership SWGtL continued to commission and publish research. The Project EVOLVE annual report and the 360safe assessmenl report remained key resources for schools and polic'MakerS. Research into the prevalence of online harnis in rural communities. the impact of encryption on safeguarding and emerging Irends such as synthetic media infonned guidance and policy responses. Throughout the year the Trust published blogs and guides on topics including safer smartphone use. generative Al. parental engagement and digital wellbeing. Customer Experience and Engagement The Communications and Marketing team enhanced engagemenl across social media, web and events. Website tra]C continued to rise, and the organisation's CRM improvement5 enabled better inlegration of data across services. Page 6
South West Grid for Learning Trust Trustees Report The Reiya chatbot managed thousands of inleractions, providing immediate assistance and allowing staff to focus on complex cases. A Whisper campaign in July ?0?4 encouraged schools to adopt the anonymous reporting tool. resulting in an uptske in subscriptions. External Funding SWGfL continues to recognise the evolving and often challenging landscape surrounding grants and bids. In response. we have proactively refined our internal strategy to ensure greater resilience. agility. and alignment with emerging funding priorities and sector needs. This slralegic shift reflects our commitment to remaining responsive and fonl'ard-thinking in a competitive and dynamic environment. We are deeply graieful for the ongoing support of our external funders, whose partnership remains vital to our success. Their continued investmenl enables us not only lo pursue our stralegic objectives but also to advance our overdrching mission: to ensure that children. young people. and vulnerable individuals are safer online. This support empowers us to innovate. collaborate. and deliver impactful programmes ihat make a tangible difference across education, safeguarding, and digital wellbeing. As we move forward, we remain committed lo transparency. accountability., and shared success with our funding partners. Strueture, Governance and Management Legal Status The South West Grid for Learning Trust was incorporated on I l October ?005 as a company limited by guarantee and is governed Ihrough the Memorandum & Articles of Associalion. The Trust commenced its activities on l December 9006 after the completion of a successful Iransfer frorn the previous consortiurn and was successfull! registered as a charity with the Charity Commission in ?006. On 19th October ?021. SWGtL became a registered charity in Scotland. On 1st January ?024. SWGtL completed a change to its constitution upon the adoption of updated Memorandum and Articles. The Trustees consider il appropriate to prepare accounts in accordance with the Charities SORP (FRS 10?). the Companies Act 7006 and Charities and Trustee Investment (Scotland) Act ?005. Organisational Structure and Gov¢rn#n¢e There were no significant changes to the Trust's legal status during the year. Representation on the Board has been considered throughout the year alongside the Trust's constitution. The Trustee Board continued to govern the charity, supported by the Finance and Audit. Technical. Data and Communications Subgroups. The Chief Executive Officer continues to provide overall leadership and direction for the charity. alongside the Senior Management Team through the creation and embedding of a clear long tenn strategy. The Senior Management Team who served during the year and up to th¢ date of this report are set oul on page l of the accounis. Risk Management Risk is assessed on an ongoing basis, both at board and Senior Management level. Considering the evolving threat landscape, emphasis was placed on cybersecurity and data protection. The Trust maintained Cyber Essentia15 Plus accreditation and worked with external partners to strengthen its systems. Page 7
South West Grid for Learning Trust Trustees Report How Activities Deliver Public Benefit The Trustees contimi that they have complied with their duty in seclion 1715) of the ?0 I I Charities Act to have due regard to the guidance on public beiiefit published by ihe Charities Commission. The overriding vision and purpose of the Tru51 is 'the advancement of education andlor the advancemenl or health and the saving of lives. in each case for solely charitable purposes by an! means through or otherwis¢ relating lo the eflective anivor safe use of infomialion and communicati()n technologie% .including bul not limited lo. the provisioii of broadbaiid conneclivit).; e-Learning facilities. education materials: informalioii and knowhow on Ihe effective use of inforn]alion and communication technologies by educational establishments: inlonnalion and knowhow relating to online safety Issues and relating to infonnalion and communication teLhnol()gies). In delivering that vision. Ihe Trust has continued throughout the ?0?41?5 rinancial year to: Deliver on 115 Operational Services & Contraclual Obligations Deliver on ils Product & Service Portfolio Improve Ihe reputation and visibility of SWGtL site & Edtesa Financial Review Income Total income for the year £2.?80,367 (20?4 £2.096,689) increas¢d from the prior year. The reali4ali()n ol. Partnership income and an iiicrease iii retums on Lash held were largely responsible for this increase, ThL Partnership model is seen as a k'ey strategic area for the "I'rust moving lurwards and a cornerstune ol. the -frust's ability lo deliver on its mi55ion slalement. Reserves Reserves al the end of the year were £2.333,137 (20?4 £2.251,961) an increase from the prior year. The trust reviews ils reserves levels annually, to include unexpected changes in income or operations, the ability to respond io a changinb landscape and commitments iii (he event of 'Indi1)g up operalions. The level of reserves currenily held by the trust are deemed s]C]ent and reasonable. Ini'estment Policy Fund5 held by the Trust are held w'ith banks in short temi deposits which offer reasonable raies of interest and ,hich comply w ith the credit raling policy adopted by th¢ Trustees. Financial Risk Management Objective$ and Policies The charity's principal financial instruments comprise Ihe bank balance, trade creditor5, deferred income and trade debtors. The main purpose of these instruments is to raise funds for the charity's charitable objectives. Price Risk, Credit Risk, Liquidity Risk and Cash Flow Risk Funding received in foreign currencies is subject lo a price risk managemenl policy through the use of FOREX mechanisms. Page 8
South West Grid for Learning Trust Trustees Report Trade debtors are managed in respect of credit and cash flow by policies concerning the credit offered to customers and Ihe regular monitoring of amounts outstanding for both time and credit limits. Trade creditor liquidity risk is managed by ensuring that suffici¢nt funds are available lo meel amounts due. Conclusions During ?0241-?5 SWGfL sustained its reputation as a leader in online safety, balancing service delivery with thought leadership and advocacy. Demand for helpline support and online safety tools increased markedly. reflecting the growing complexity of online hamis. The Trust responded by expanding its services. launching innovative resources such as the Sj'ntheiic Media Hub, and strengthening partnerships M'ith industry and policymakers. Recognition through awards and honours underscored the impact of SWGtL's work. Looking ahead. the Trustees will continue to support the stralegic goals of the organisation. ensuring that SWGfL remains at the forefront of safeguarding children and adults in an increasingly digital world. The annual report was approved by the trustees of the charitable company on behalf by: R Bond Trustee Page 9
South West Grid for Learning Trust Statement of Trustees, Responsibilities The trustees (who are also the directors of Souih Wesl Grid for Learning Trust for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance w ith applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS I O? "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial slalements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a Irue and fair view of the siaie of affairs of the chariiable ¢ompany and of the incoming resources and applicalion of resources, including its income and expenditure. of the charitable company for thai period. In preparing these fLnancial slatements. the trustees are qUired to.. select suilable accounting policies and apply them consistently- observe the methods and principles in the Charities SORP. make judgements and estimates thal are reasonable and prudenl. state whether applicable accounting standard5, comprising FRS 10? have been followed. subject lo any material departures disclosed and explained in the financial statement5. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any lime the financial position of the charitable company and enable ihem to ensure that the financial statements comply w'ith the Compaiiies Act ?006. They are also responsible for safeguarding the assets ot" the charitable company and hence for taking reasonable steps for the prevention and deteclion of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial infomiation included on the charitable company's website. Legislation goveming the preparation and dissemination of financial slatements may differ from legislation in other jurisdictions. Diselosure of information to auditor Ea¢h trustee has taken steps that they ought lo have taken as a trustee in order to make themselves aware of any relevant audit inforn)ation and to establish that the charitable company's audilor is aware of that inforniation. The trustees confirm thal there is no relevant information that they know of and of which they know the auditor is unaw'are. Approved by the trustees of the charitable company on 2*and signed on its behalf by: R Bond Trustee Page 10
South West Grid for Learning Trust Independent Auditor's Report to the Members of South West Grid for Learning Trust Opinion We have audited the financial statements of Souih West Grid for Learning Trust (the 'charitable company,) for the year ended 31 March ?0?5. which comprise the Statement of Financial Activities. Balance Sheet. Statement of Cash Flow5. and Notes lo the Financial Statements. including a summary of significant accounting policies. The financial reporting framework thai has beeii applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 10? 'The Financial Reporting Siandard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the stale of the charitable company's affairs as at 31 March ?0?5 and of its incoming resources and application of resources, including its income and expenditure, for the year then have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; have been prepared in accordance with the requirements of the Companies Act ?006 and the Charities and Trustee Investment (Scotland) Acl ?005 and regulation 8 of the Charities Accounls (Scotland) Regulalions ?006. Basi5 lor opinion We conducted our audit in accordance with Internalional Standards on Auditing (UK) (ISAS (UK}) and applicable law. Our responsibilities under Ihose standards are further described in the auditor responsibilities for the audil of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial stateTnents in the UK, including the FRC'S Ethical Stsndard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe ihat the audit evidence we have obtained is sufficienl and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the trustees use of the going concern basis of accounting in the preparation of Ihe financial statements is appropriate. Based on the work we have perfomied. we have not identified any material uncertainlies relating to events or conditions that. individually or collectively. may casl significant doubt on the charitable company's ability 10 continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue. Our responsibililies and the responsibilities of the trustees with respect to going concern are described in the relevant seclions of this report. Other information The Irusiees are responsible for the oiher information. The other infomation comprises the infonnation included in the annual report. other than the financial statements and our auditor's report ihereon. Our opinion on the financial statements does not cover the other information and. except to the extent oth¢rwise explicitly stated in our report, we do not express any forni of assurance conclusion thereon. Page I
South West Grid for Learning Trust Independent Auditor's Report to the Members of South West Grid for Learning Trust In connection with our audit of the financial slatements. our responsibility IS to read the other information and, in doing so, consider whether the other inforn)ation is materially inconsistent with the financial statements or our knowledge oblained in the audit or otheTh4'ise appears to be materially misslaled. If 'e identify such material inconsistencies or apparent material misstatements. we are required lo determine M,hether there is a material misstatement in the financial statements or a material misstatement of the other information. If. based on the work we have performed, we conclude that there is a maierial misstatement of this other inforniation. we are required to report that fact. We have nothing to report in Ihis regard. Opinion on other malter prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit: the inforniation given in the Tntstees Report for the financial year for which the financial statemenls are prepared is consislent with the financial statemenls- and the Trustees Report has been prepared in accordance with applicable legal requirements. Matler5 on which we are required to report by exception In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in th¢ directors, report included wiihin the trustees report. We have nothing to report in respect of the following matlers where the Companies Act ?006 requires us lo report to you if. in our opinion.. adequate accounting records have nol been kept, or retums adequale for our audit have not been received from branches not Vl51ted by us; or the financial statement5 are not in agreement with the accounling records and returns- or certain disclosures of trustees remuneration specified by law are not made; or 'e have nol received all the infomiation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Sthtement of Trustees, Responsibilities (set out on pag¢ 10). the tNstees are responsible for the prepardtion of the financial statements and for being salisfied that they give a true and fair view. and for such intemal control as the trustees determine is nece55ary to enable the preparalion of financial statements that are free from material misstatemenl, w'hether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concem. disclosing, as applicable, matters relaled lo going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Page l?
South West Grid for Learning Trust Independent Auditor's Report to the Members of South West Grid for Learning Trust Auditor respon5ibilitie5 for the audit of the financial Statements We have been appointed as auditor under section 44{1)(c) ot- the Charities and Trustee Investment (Scotland) Act 1005 and under the Companies Act ?006 and report in accordance with the Acts and relevant regulations made or having effect thereunder. Our objectives are to obiain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditor s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee thal an audit conducted in accordance with ISAS (UK) will always detect a material rnisstatemenl when it exists. Misslatements can arise from fraud or error and are considered malerial if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial stalements. As part of an audit in accordance with ISAS (UK). we exercise professional judgement and maintain professional sceplicism throughout the audit. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. ouilined above. to delect material misstalements in respecl of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularilies, including fraud is detailed below. The exlent to which the audit was considered capable of delecting irregularities including fraud Our approach to identify'ing and assessing the risks of material misstatement in respect of IegUlar1ties, including fraud and non-compliance with laws and regulations. was as follows.. the engagemenl partner ensured thal the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. we identified Ihe laws and regulations applicable lo the company through discussions with directors and other management. and from our commercial knowledge and experience. we focused on specific laws and regulalions ,hICh we considered rnay have a direct material etTecl on the financial stalements or the operations of the company, including the Companies Act ?006, Charities Act ?01 l. Charities and Truslee Investmenl (Scotland) Acl )005. Charities Accounts (Scotland) Regulations ?006. laxation legislation. data protection. anti-bribery. employinent. environmental. fire safety, Licensing Act ?003 and healih and safety legislation- we assessed the extenl of compliance with the law5 and regulations identified above through making enquiries of management. reviewing licenses. certificates and relevant correspondence including the inspection of legal correspondence: and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding ol how fraud might occur, by.. making enquiries of managemenl as to where they considered there was susceptibility to fraud. their knowledge of actual, suspecled and alleged fraud: and considering the internal controls in place lo mitigate risks of fraud and non-compliance with laws and regulations. Page 13
South West Grid for Learning Trust Independent Auditor's Report to the Members of South West Grid for Learning Trust To address the risk of fraud through management bias and oveIde of controls. we.. perfonned analylical procedures to identify any unusual or unexpected relationships. tested journal entries lo identify unusual transactions: assessed wheiher judgements and assumptions made in detennining the accounting estimates were indicative of potential bias.. and investigated ihe rationale behind significanl or unusual transactions. In response lo the risk of irregularities and non-compliance with laws and regulations. we designed procedures which included. bul were not limited to: agreeing financial slatement disclosures lo underlying 5UPPOrting documenthtion; reading the minutes of meetings of those charged with govemance: enquiring of managemenl as lo actual and potential litigation and claims- and reviewing correspondence wilh HMRC. relevant regulators and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions. the less likely it is that 'e would become aware of non-compliance. Auditing standards also limit the audil procedures required to identify non-compliance with laws and regulaiions to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if Material mi55tatemenls thal arise due to traud can be harder to detect than those that arise from error as they May involve deliberate concealment or collusion. A further descriplion of our responsibilities is available on the Financial Reporting Council's websile at.. ryw.frc.org.uklauditorsresponsibilities. This description form5 part of our auditor's report. Use of our report This report is made solely to the charitable company's trustees, as a body, in accordai)ce with Chapter ) of Part 16 of the Companies Acl )006. Our audit 'ork has been undertaken so that w'e might slate lo the charitable company's trustees those matters we are required to stale to them in an audilor's report and for no other purpose. To the fullest extenl pern]itted by law. we do not accepl or assume responsibility to anyone other than the charitable company and its trustees as a bod for our audit work. for this report. or for the opinions we have fonned. LLf Mr Simon I For and on enior ofTh tatutory Audito pson Jenner LLP, Statutory Auditor ehalf ?8 Alexand E¥mouth Devon EX8 IBD rrace Date.. .10 ZS Page 14
South West Grid for Learning Trust Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrieted funds Restricled funds Total Note Income and Endowments from: Charitable activities Investment income 971 ?10 70.035 1,239,19? 2,210,332 70.035 Total income 1,041.245 ,239,1 ?2 ?,280,367 Expenditure on.. Charitable activities (960,069) (1,239,12?) (2,199,191) Total expenditure (960,069) {1,239,12?) 2,199,191) Net income 81,176 81,176 Net movement in funds 81,176 81,176 Reconciliation of funds Totsl fiulds brought forward 2,251,961 2,251,961 Total funds carried forward 19 2,333,137 2,333,137 Page 15
South West Grid for Learning Trust Statement of Financial Aetivities for the Year Ended 31 March 2025 (Including Income and Expenditure Aceount and Statement of Total Recognised Gains and Losses) ComparatiTr'e Statement of Financial Activities for the Year Ended 31 March 2024 Unrestricted Restricted Total funds funds 2024 Note Income and Endowments from: Charitable activities Investment income 857.91 43.683 1,195,095 ?,053,006 43.683 Total income 901,594 1,195,095 2,096,689 Expenditure on: Charitable activities l.0?1.012) (1,195,095) (2,216,107) Total expenditure i.o?I,01?) (1.195,095} (2,216,107) Net expenditure (119.418) (119,418) Net movement in funds (119,418) (119,418) Reconciliation or rund$ Total funds brought forward ?,371,379 ? 371,379 Total funds carried fonvard 19 ?.251,961 ?251,961 All of the charitable company's activities derive from continuing operations during the above two periods. The funds breakdown for ?0?4 is shown in note 19. Page 16
South West Grid for Learning Trust (Registration number: 05589479) Balance Sheet as at 31 March 2025 2025 2024 Note Fixed assels Intangible assets Tangible assels Investments 12 13 14 37? 13,434 816 10,33? 13,807 11.149 Debtors Cash ai bank and in hand 15 441.693 ? 675.255 ?54. jo I ? 701,771 3,116.948 2,956,07? Creditors: Amoun15 falling due wilhin one year 16 (797,618) (715,260) Iyet currenl assets ? 319.330 ? 240,81? Net assets 2,333,137 2,251,961 Funds ofthe charitable company: Unrestricted income funds Unrestricted 2,333,137 ? 251,961 Total funds 19 ? 333,137 2,251,961 The Ina cial statements on pages 15 to 36 were approved by the trustees. and authorised for issue on 25and signed on their behalf by". R Bond Trusiee Page 17
South West Grid for Learning Trust Statement of Cash Floivs for the Year Ended 31 March 2025 2025 2024 Note Cash floiv5 from operating activities Net cash incomel{expenditure} 81,176 (119,418) Adju5tmen15 to cash flows from non-ca5h item5 Depreciation Amort15ation Investment income 9,97? 444 (70,035) 11,788 1,785 (43,68)) ?1,557 (149,528) Working capital adjuslmentS (In¢rease}Idecrease in debtors Increase/ldecrease) in creditors Increasel(decrease) in deferred income 15 16 (187.39?) 53,741 ?8,617 ?05,731 (160,787) (398,638) 16 Net cash flows from operating activities (83.477) 503,22?) Cash flows from ini'e5ting activities Interest receivable aiid similar income Purchase of tangible fixed ass¢ts 70,035 (13.074) 43.683 (2,487) 13 Nel cash flows from investing activities 56,961 41.196 Nei decrease in cash and cash equivalents (?6.516) (46?,026) Cash and cash equivalents at l April 2,701,771 3,163,797 Cash and cash equivalents at 31 March ?,675,255 ?701,771 All of the cash flows are derived from continuing operalions during the above two period5. Page 18
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 I Charitable company status The charitable company is limited by guarantee. incorporated in England and Wales, and consequently does nol have share capital. Each of the trustees is liable to contribule an amount nol exceeding £ I towards the assets of the charitable company in the event of liquidation. The address of ils registered olCe is.. Belvedere House Woodwater Park Pynes Hill Exeter EL? 5WS 2 Accounting policies Summary of significanl accounting policies and key accounting estimates The principal accounting policies applied in the preparation of Ih¢s¢ tinancial stalements are s¢t Qui below. These policies have been consistenily applied to all the years presented, unless otherwise stated. Stalement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities= SLqtement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 10?) (effective l January 2019) - (Charilies SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 10?). They also comply with the Companies Act ?006. the Charities Act ?01 l and Charities Accounts {Scotland) Regulations ?006 (as amended). Basis of preparation South West Grid for Learning TNSI meels the definition of a public benefit entity under FRS 10? Assets and liabilities are initially recognised at historical cost or transaction value unless othenvise stated in the relevant accounting policy notes. Going concern The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charitable company. Exemption from preparing group accounts The charity has taken advantage of ihe e.xemption in The Charities (Accounts and Reports) Regulations 2008 from the requiremenl to prepare con501idated financial statements. on the ground5 that the inclusion of the subsidiary undertaking is not material for the purposes of giving a true and fair view. Page 19
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 Mareh 2025 Income and endowments Income is recognised when the charity has entitlement to the funds, any perfornlance conditions attached to the item(s) of income have been met, it is probable thai the income will be received and the amount can be rneasured reliablv. Income derived from the provision of goods and services is stated after trade di5COUnts, other sales taxes and net of VAT. Income from government and other grants, whether 'capital' granls or 'revenue' grants. is recognised when the charity has enlitlement to the funds. any perfonnance conditions attached lo the grants have been met, it is probable that the income will be received and the amounl can be measured reliably and is not deferred. Income received in advance of ihe provision of a specified service is deferred until the criteria for incotne recognition is met. Deferred iiiconie Deferred income represents amounts received for future periods and is released to incoming resources in the period for which. it ha5 been received. Such income i5 only deferred when.. The donor specifies that the granl or donation must only be used in future accounting periods; or The donor has imposed condit10115 which must be met before the Charity has unconditional entitlement. The income recieved from charilable activities relates to a future period Jnvesljnenl income Interest on funds held on deposit is included wh¢n receivable and ihe amount can be measured reliably by the charity: this is normally upon notificalioii of the interest paid or payable by the Bank. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlemenl is required and the amount can be measured reliably. All costs are allocated 10 the applicable expenditure heading that aggregate similar costs lo thal category. Where costs cannoi be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources. with central staff costs allocated on the basis of time spent. and depreciation charges allocated on the portion of ihe asset's use. Other support costs are allocated based on the spread of staff costs. Charilable oclivities Charithble expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocaled directly to such activilies and those costs of an indirecl nature necessary to support them. Page 20
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Support costs Resources expended are allocated to the particular activity where Ihe cosl relates directly to that activity. However. the cost of overall direction and administration of each activity. comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate. based on staff time, of the amount attributable to each aciivily. 2024 2024 Online Safety Barefoot Licencing Schools Internet Service Governance costs These include the costs attributable lo the charitable company's compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. Taxation The charitable company is considered to pass the tests set out in Parngraph I Schedule 6 of the Finance A¢t 2010 and therefore it meets the definition of a charitable company for UK corporation tax puryx)ses. Accordingly. the charitable company is potentiallj. exempl from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax Act ?0 l O or Seclion ?56 of the T&xation of Chargeable Gains Act 199? to the ¢xtenl that such income or gains are applied exclusively lo charitable purposes. Intangible a55ets Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over iheir estimated useful lives. Tangible fixed assets ndividual fixed assets costing £250.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated irnpairnient losses. Amortisation Amortisalion 15 provided on intangible fixed assets so as to WTite off the cost. less any estimated residual value, over their expected useful e¢onomic life as follows.. Asset class Computer software Amortisation method and rate ?OO/o Strdighi line basis Depreciation #nd amortlsation Depreciation is provided on tangible fixed asseis so as to write off the cosl or valuation, less any estimated residual value, over their expected useful economic life as folloM's.' Asset class Fixtures and fittings Depreciation method #nd rate 330/0 Strdight line basis Page 21
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Business combinations Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition dale of assets given. liabilities incurred or assumed. and equity instruments issued by the group in exchange for control of the acquired. plus any costs directly attributable lo the business combination. When a business combinatioi) agreement provides for an adjustment to the cost of the combination contingent on future events. the group includes the estimated amount of that adjustment in the cost of the combination at the acquisilion date if the adjustment is probable and can be measured reliably. Trade debtors Trade debi()rs are amounts due fvom Customers for merchandise sold or services perfornied in the ordinary course of business. Trade debtors are recognised initially al the transaction price. They are subsequently measured at amortised cost using the effective interest meihod, less provision for impainnent. A provision for the impainnent of irade debtors is established when there is objective evidence that the charitable company will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tenn highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade credilors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as curreni liabilities if the charitable company does not have an unconditional right. ai Ihe end of the reporting period. to defer settlemenl of the creditor for at least twelve months after the reporting date. It there is an unconditional right to defer settlement for at least twelve months after the reporting date. Ihey are presented as non-curreni liabilities. Trade credilors are recogni5ed initially ai the transaction price and subsequently measured at amortised cost Using the effective interest method. Foreign exchange Transactions in foreign currencies are recorded at the rate of exchange ai the dale of the transaction. Monetary assets and liabilities denominated in foreign currencies ai ihe balance sheet date are reported al the rates of exchange prevailing at that date. Other exchange differences are recognised in the statement of financial activities in the period in which they arise except for.. l ) exchange differences on transactions entered into to hedge cenain foreign currency risks (see above); ?) exchange differences arising on gains or losses on non-mon¢tary items which are recognised in other comprehensive income. Page 22
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Fund structure Unrestricted income funds are general funds that are available for use at the tNstees discretion in furtherance of the objectives of the charitable company. Pensions and other post retirement obligation5 The charity operates a defined contribution pension plan. A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the charitable company has no legal or constructive obligalion to pay further contributions even if the fund doe5 not hold sU1¢ient assets lo pay all employees the benefits relating to employee service in the cuent and prior periods. Contribulions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution paymenls exceed the contribution due for service, the excess is recogni5ed as a prepayment. Financial instruments Clas.sificaliun The Charily only has financial assets and financial liabilities of a kind Ihat qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction price and subsequently measured at their settlement value. 3 Income from charitable aelivities Unrestricted funds General Restricted fulld5 Total 2025 Total 2024 Online Safety Barefoot Licencing Schools Internei Service 927,339 .239,1 ?? 2,166,461 1,920,676 9,583 54.400 68.347 ?4.594 19.277 24.594 19,277 971 ?10 ,239,1?? 2,210,33? ?,OS3,006 The prior year's totsl income from charitable activities of £2,053.006 included unrestricted funds of £857,911 and restricted funds of £1,195,095. 4 Investment income Unrestricted funds General Total 2025 Total 2024 Interest receivable and similar income; Interesl receivable on bank deposits 70,035 70,035 43,683 The prior year's total investment income of £43,683 was unrestricted. Page 23
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 5 Expenditure on charitable activities Activity undertaken directly Aclivity support costs 2025 2024 Online Safety Barefoot Licencing Schools Internet Service 1,7?0,738 413,?49 ? 133,987 2.131,041 8,815 9.449 66.809 8,700 13.050 8.700 56,504 43,454 ,764,19? 434,999 ? 199,191 ?216,107 The prior years lotal expenditure of £2,?16,107 included expenditure attributable directly to activities undertaken of £1.780.059 and support costs of £436.048. Included in the expendilure analysed above are govemance costs of £17,694 (20?4 - £30.857) which relate directly to charitable activities. See note 6 for further details. Unrestricted funds General Restricted funds Total 2025 Total 2024 Online Safety Barefoot Licencing Schools Internei Service 894,865 1.239,1?2 2,133,987 2,131,041 8,815 9,449 66.80? 8,700 56.504 8,700 56.504 960,069 1,239,1?? ? 199.191 ? 216,107 The prior years lotal expenditure of £2,?16,107 included expendilure attributable to unrestricted funds of £ 1.0? 1,0? l and £1,195.095 to restricted funds. Page 24
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 6 Analysis of governance and support costs Cbaritable activities expenditure Total 2025 Total 2024 Employment costs Establishment costs Legal and Professional Travel and subsistence Computer expenses Advertising and promotion Bad debt provision Foreign currency losses 186,981 118,4?1 81,447 2,741 44,906 123,761 118,769 99,585 2,589 45,379 151 35? 27.753 18,210 434,999 436,048 Governance cos1$ Total 2025 Total 2024 Audit fees Audil of the financial statements Other fees paid io auditors Legal fees 11,965 4,986 743 11.400 3,808 15,649 17,694 30,857 7 Net incomingloutgoing resources Net incomin{out80ingj resources for the year include.. 2025 2024 Operating leases - other assets Audit fees Other non-audit services Depreciation of fixed assets Foreign currencv losses Amortisation of software 56,770 11,965 9,678 9,972 35? 444 56,944 11.400 7,7?0 11,788 18.210 1,785 Page ?5
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 8 Trustees remuneration and expenses No Irustees, nor any persons connected with them, have received any remuneration from the charitable Company during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 9 Staff costs The aggregate payroll costs were as follows.. 2024 Staff costs during the year were: Wages and Salaries Social security costs Pension costs 1,182,749 120.194 105.961 ,075,159 108,511 106.8?6 1,408.904 1.290,496 The monthly average number of persons (including senior management / leadership team) employed by the charitable company during the year expressed as full lime equivalents was as follows: 2025 No 2024 Administration 36 34 30 (?0?4 - ?5} of the above employees participated in the Defined Contribution Pension Schemes. The number of employees whose emoluments fell within the following bands was.. 2025 2024 £90.001- £100,000 The lotal employee benefits of the key management personnel of the charitable company were £446,354 (?0?4 - £413,668). Page 26
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 10 Auditors, remuneration 2025 2024 Audtt of the financial statements 11,965 11,400 Other fees to auditors All other non-audit services 9,678 I l Taxation The charitable company is a registered charity and is therefore exempt from taxation. 12 Intangible fixed assets Soflware Total Cost At l April 20?4 15,868 15,868 Ai 31 March ?025 15,868 15,868 Amortis8tion At l April ?0?4 Charge for the year 15,052 444 15,05? 444 At 31 March 2025 15,496 15,496 Net book value At 31 March 2025 372 37? At 31 March 20?4 816 816 Amortisation of intangible fixed assets is included within expenditure on charitable activities. Page 27
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 13 Tangible fixed assets Furniture and equipjnent Total Cost At l April ?0?4 Addilions Disposals 149.J99 13.074 (91,403) 149,399 13.074 (91.403) At 31 March ?0?5 71.070 71,070 Depreciation At l April ?0?4 Charge for the year Eliminaled 01) disposals 139,067 9,971 (91.403) 139,067 9.971 (91.4031 At 31 March ?0?5 57,636 57,636 Iyel book value At 31 March ?0?5 13,434 13,434 At 31 March ?0?4 10.33? 10.33? 14 Fixed asset investmenls 2024 Shares in group undertakings and participating interesls Page 28
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Shares in group undertakings and participating intere5t5 Subsidiary undertakings Total Cost At l April 2024 At 31 March ?025 Net book value At 31 March 2025 At 31 March 20?4 Details of undertakings Details of the investmenls in which the charitable company holds ?OO/o or more of the nominal value of any class of share capital are as follows: Country of incorporation Proportion of voting rights Principal and shares held a¢tivity Undertaking Holding 2024 Subsidiary undertakings Edtesa Limited Belvedere House. Pe5 Hill, Woodwater Park. Exeter, EX? 5WS England and Wales Ordinary loo% I OOO/o ICT & software Page 29
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Subsidiaries The loss for the financial period of Edtesa Limited was £148 (?0?4 - £4,04?) and the aggr¢gale amount of capital and reserves at the end of the period was £(27.424) (?0?4 - £(27,276)). 15 Debtors 2025 2024 Trade debtors Prepayments Accrued income 354.6?8 43.370 33.695 i 0.000 58 ?64 47.147 38.890 10.000 Other debtors 441,693 ?54,301 16 Creditors: amounts falling due within one year 2025 2024 Trade creditors Other taxation and social security Other creditors Accruals Deferred income 79.081 16,905 341,49? 52,358 307.78? 64,931 24,881 300.547 45,736 279,165 797,618 715 ?60 2025 2024 Deferred income at l April ?0?4 Resources deferred in the period Amounts released from previous periods ?79,165 307,78? (279.165) 677,803 ?73,565 (67?.203) Deferred income at year end 307.78? ?79.165 Page 30
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 17 Obligations under leases and hire purchase eontracts Operating lease commitments Total tUre minimum lease payments under non-cancellable operating leases are as follows.. 2025 2024 Land and buildings Within one year Between one and five years 60,368 10,061 61,206 71,407 70.4?9 132,613 Other Within one year 4,886 18 Pension and other schemes Defined Contribution pension scheme The Charity operdtes a defined contribution pension scheme. The pension c05t charge for the year represents contributions payable by the Charity to the scheme and amounted to £105,961 (20?4 - £106.826). Contributions totalling £14,019 (20?4 - £12.83?) were payable to the scheme at the end of the year and are included in creditors. The defined contribution pension scheme liability and expense wa5 allocated between charitable activities and restricted and unrestricted funds based on the activities perfonned by each individual member of slaff. Page31
South West Cirid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 19 Funds Balance at I April 2024 coming resources Resources expended Balance ai 31 March 2025 Unreslricted funds General Unrestricted income fund 2,251,961 1.041.245 (960,069) 2.333,137 Restricted funds Nominet Grani TikTok Grant Pershing Grant Home Office Grant- RP Inspire Scotland (irant Minerva Projeci- Safe Online 773,395 55,000 75,802 225,000 58,134 51,791 {773,395) (55,000) (75,802) (225.000) (58,134) {51,791) Total restrieted funds 1,239,122 (1,239,122) Total funds 2,251,961 2,280,367 (2,199,191) 2,333,137 Page 32
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 BAlance ai I April 2023 Incoming resourees Resources expended Balance at 31 Mareh 2024 Unrestricled funds General Unrestricted income fund 2.371.379 901.594 (1.021.012) 2.251,961 Restricted Noniinet Granl TikTok Grani Pershing Grant METAIFacebook Home Otrice Grant - RP Inspire Scotland Grant 842,780 45,33) 78,847 20,000 150.000 58.135 (842,780) (45,333) {78,847) {20,000) (150,000) {58.135) Tot21 restricted funds 1,195,095 (1,195.095) Total funds 2.371,379 ? 096,689 (? ?16.107) 2.251,961 Pag¢ 33
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 The specific purposes for which the funds are to be applied are as follows: The Nominet funds relates lo funding from Nominet for the operation of the UK Safer Internet Centre in association with the consortium members. TikTok funds relates lo funding the support of SWGfL's role as a part ofthe UK Safer Internet Centre. dedicaied to keeping the internel safe for users of all ages. Pershing funds were provided lo support SWGtL in combating STOPNCII (Stop Non-consensual Intimate Image Abusel. Mei&lFacebook funds w'ere provided io support SWGfL in combatting non-consensual sharing of iniimate image abuse and supporting? victims. Home oifice (RP) funding relates to funding to the support work in combatting violence against women and girls. Inspire Scoiland funds relates lo the funding support SWGtL in the Delivering Equally Safe Scotland Project. Sale Online projecl fundii)g relales to funding Io sUPPOrt SWGfL in improving the lives of disadvantaged women and girls. Page 34
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 20 Analysis of net assets between funds Unrestricted funds General Tolal funds at 31 March 2025 Restricted funds Inlangible fixed assets Tangible fixed assets Fixed asset investments Current assets Current liabililies 37? 13,434 372 13,434 3,038.900 (719,570) 78,048 (78,048) 3,116,948 (797,618) Total net assels ?333,137 2,333,137 Unreslricled funds General Total funds at 31 March 2024 Restricted funds Intangible fixed assets Tangible fixed assets Fixed assel investments Current assets Cuent liabilities 816 10.33? 816 10.33? 2,910,245 (669.433) 45.8?7 (45.8?7) 2,956,072 (715,260) Tolal net assets ?,251.961 2,251,961 21 Analysis of net funds At l April 2024 Financing eash At 31 March flows 2025 Cash at bank and in hand ?,701,771 (?6.516) 2,675,255 Net debt ?,701,771 (?6,516) 2,675,255 At l April 2023 Financing cash flows At 31 March 2024 Cash at bank and in hand 3,163,797 (46?,026) 2,701,771 Net debt 3,163,797 (46?.026) ? 701,771 Page 35
South West Grid for Learning Trust Notes to the Financial Statements for the Year Ended 31 March 2025 22 Related party transactions Other related party transactions The Trust's governing document was amended in January ?0?4 and as a result of this Local Authorities no longer meel the definition of a related party. The bel()w oulslanding balances have arisen trom transactions which look place wilh pariies thal were related at the time of such transactions. Due to the nature of the Trust's operations procuring services on behalf of the Local Auth()rities and the board of trustees including representatives from the Local Auth()rities, transactions inevitably lake place betw'een the Irust and organisations in which the Iruslees have an interest. All transactions are conducted at arnis length and no specific transactions have occurred in which a Iruslee has an individual interest. The lotal reslricled funds received for each Local Authority relating to broadband growth and maintenance which is unspent at the year end is as follows- 202.4 2024 Devon 112,193 112,193 Plymouth Swindon 3,403 3,403 12.447 12.447 Torbay Wilishire 7,578 7,578 A5 these services are no longer offered by South West Grid for Leaming Trust, the tunds are now included within other creditors. Page 36