Reglstered number: 06413331 Charlty number: 1124064 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company Ilmlted by guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) CONTENTS Page Reference and admlnlslratlve detslls of the charlty, Its trustees and advlser8 Tru$tso6' rnport Independent examinees report Statement of financial activities Balance sheet 10 Notes to the finon¢lal staternonts
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEM8ER 2023 Trustees C A Shott, Director M Tovey. Director C Green R Price OBE QC PD8rett Cornpany regiittrred nUMr 06413331 Charity rngisterod number 1124064 Rggistored offlcè Cald8r & Co, 30 Orangè Slr86t, London, WC2H 7HF Cornpany secretary Mary Tov8y AGcountants Cald8rs118831 LLP, 30 Orange Street, London. WC2H 7HF Page 1
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEM8ER 2023 The Trustees presenl their annual report together with the financial slatemenls of the company for the year ended 31 December 2023. The Trustees confirm that the Annual Report and finanoal statements of the company comply with the ujrrent statutory requirements. the requiremenls of the companls governing document and preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffectlve 1 January 20151- (Charities SORP IFRS 10211, Ihe Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 102) and the Companies Act 20(. Since the company qualKles as small under sedon 383, the straleglc report required of medium and large companies under The Companies Act 2CM)6 {Slrategic ReFQrt and Directorfs Report) Regulations 2013 Is not required. OBJECTIVES AND ACTIVITIES Pollcles and objectlves The principal object of the company is to seek and support Snveslmenl in academic research within the fields of neuroscience and psythology, in order lo afford teachers, parents and others. a better understanding of the leaming process and in order lo develop new leaming skllls for application to the needs of chlldren and adults, Includlng those th special needs. b. Revlew ol actlvltles for achlevlng obJectlve$ Leaming Sknlls Research FOUndaon contlnued its fund-ralslng for Its wholly owned subsidiary educatk)nal Ihlnk tank, Leamus Iwww.leamus.co.ukl Leamus is an education think tank that seeks to make connedons between the wodd-leading UK research In neuroscience and best classroom practice. Our alm is lo ensu that the growing understanding of how the braln works and how it leams translates into improved interventions and eduCatnal outcomes. Leamus is uniquely positioned to do this sitting al the interface of researchets and educators, and a track record of wnning events, publishing materials. helping to run Random Control Trials of new neurOlence-ln$plred leaming activities, and consulting with teachers. There is no equivalent organisalion who is working with teachers to build knowledge about the brain. which is go important for undefstsnding the processes of leaming. During this accounting period the follobmng donations were received-. £10,000 from Dovedale Foundation Inon-specificl. £30.000 from Shidey Conran (for the ongoing marketing and promotion of Maths Anxiety Trust and -money Stuff. an online maths course. We also received £50,000 from Shidey Conran for the setting up of a Task Group of academics and teachers lo research into why teachers in the UK feel they haven't been suffiuently trained lo teach maths. During this peri¢)d we presented our Conference "FutureEd23". The theme for the Conference was.. -The place of educational neuroscience in the early eareer framework for teacher èducation and development." The Conference was presented in associatn wth the Chartered College of Teaching and the Centre for Educational Neuroscience. Page 2
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 DECEM8ER 2023 Chaired by Richard Newton-chance the speakers were.. Professors Mithael Thomas {Director of the Centre for Educational Neuroscience) Duncan Astle (Deparlment of Psychiatry and MRC Cognition and Brain Sciences Unil, and Fellow of Robinson College, Cambridge) Paul Howard-Jones (Professor of Neuroscience and Educauon al the Schwl of Education, University of Brbstoll Dr Kendra Mcmahon (Reader In Education at Bath Spa University) Jeremy Dudman-Jones (Assislanl Headleacher al Greenford High School, London) Peter Mather l Head of tralning & development. Greenford High Sch¢x>l, London) and Cara Carey (Developmenl Lead, Teach First Programme Support). The video of the Conference and the speakers, slides were published on the Leamus website. Our Annual Lecture was glven by Stanlslas Dehaene. His topic was". "How We Leam.. Why brains leam better than any machine...for no Professor Stsnislas Dehaene Ss Presldent of the French Scientiflc Council for Education and Chair of Expedmenlal Cognitive Psychology at Collège de France in Paris. He is author of many best- selling bcx)ks including "Reading in the Brain" "Number Sense" and 'How We Learn". Rovlng Reporter This project has become Increasingly popular. The Leamus team visits academics Sn thelr university labs and Interview them al)oul their work and Its relevance for teachers. In 2023 Learnus visited the Blakemore Lab and filmed an interview th its Pdncipal Invesligalor, Sarah-Jayne BlakeMO who Ss Professor of Psychology and Cognitive Neurosclence at the Unlversity of Cambridge. Her group's research focuses on the development of social cognition and decision making in the human adolescent braln, and adolescent mental health. Her group runs behavioral studies in schools and In the lab, as well as neuro-lmaging studies, with adolescents and young adults. The wdeo is available on the Leamus website and the Leamus YouTube Channel ABCD Lab Oxford Leamus visited the Allenlion, Brain & Cognitive Development IABCDI lab in Oxforrj and interviewed ils Principal Investigator, Professor Gaia Scerrf and her colleagues. The ABCD Lab is part of University of Oxford's Experimental Psychology Division. Their work focuses on". Academic Development & Leaming Dtfficulties Attention, Brain Imaging. Brain Systems Childhood & Adolescence13-18 years). Cognition & Infomiation Processing Learning and Memory. The video is available on the Leamus website and Leamus YouTube Channel MATHS ANXIETY TRUST During this period and al the request of Dame Shirley Conran, we made Maths Anxiety Tnjsl {a project she had foundedl a Division of Leaming Skills Researeh Foundation. We will continue her imK)Ortanl work in bringing attention to maths anxiety. To that end, we worked with the Centre for Social Justice at their fringe presentations al both the Conservative and Labour Party Conferences in 2023. Professor Margaret Brown OBE. fomier Chair of the Joint mathemab.cal Council of the UK and forrner adviser to the Department of Education on the maths curriculum represented Maths Anxiety Trust at these èvents. The Learnus Webinars During this period. we also presented the followng wèbinars: 'If Maths Anxiety could talk" Leamus Council Mernber, Fay Cosgrove led a webinar as part of the ESRC'S Festival of S¢xial SeientA. It was attended by nearly 70 teachers of maths and those in allièd fields from aeross the UK and beyond. She reported on a research project about maths anxiety in UK undergraduates, applying the findings to the classroom and asking questions of 'besl practice, in the light of participants, experiences. She tsu1ned the novel research Page 3
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 DECEM8ER 2023 methc*Y used. The questions asked by allendees suggest an encouraging level of practitioner support for reducing anxiety al))ul maths. A recoTdSng of Ihe session Is avablable on the Leamus and Maths Anxiety Trust websites. "Maths In the Early Years Foundatlon Stage- what are the prlorltles for our youngesl learners?" This webinar glven by Dr Sue Gifford drew upon research to idenltfy key issues in maths education from blrth to five. including pdictorS for later learning and effective pedagogy. Dr Gifford discussed implications for practitioners, senior leaders and professional development. The video of this webinar is available on Ihe Leamus websf(e and the Learnus YouTube channel. Dr Sue GKford Wofks as an eady years mathematics consultant varlous groups, Includlng practitioners and official bcNJies, including DFE, NCTEM and ACME. She Is a past chalr of BSRLM (the British &tiety for Research Into the Learning of Malhematbcsl and currently chabrs the Early Chlldhood Maths Group. "Beyond retrleval to rlcher foms of consolldatlng knowledge and strengthenlng learnlng. "This webinar was given by Professor Derek Bell IDirector of Leamusl and Dr Kendra Mcmahon, Reader In Educallon at Bath Spa University, co-lead of the Centre for Research in Scienlrfic and Technologbcal Educatic and Leamlng. Research Projects During this period Leamus was asked to partner In a new research project led by the Unlvershy of Surrey to explore improvements in mathematical leaming. Known as the SPACE project it Is a whole class, strUctud approach to Lego play, guided by a leacherlleaching assistant {TAI. The programme aims to Improve spatial thinking and spatial language skllls through problem solwng, leading to improved mathematics outcomes Includlng arbthmetic, geomety, and problem solving. Children presented wrlh pIctuS of exploded Lego models, which they use lo build their own Lego model using physical Lego bricks. Lego play through the intervention Is largely autonomous, Mlh support from leachetsffAs a prompts, lo encourage spatsal talk to problem solve whilst manipulating Le90. Funded by the Education EndsThment Foundation, the program Mll prode appropriate training and resources to work wtth young children in Year 2 during their maths lessons for 6 hours over a period of 6 weeks. This pilot project wtih 450 children across 15 schools will be evaluated by the cent for Evidence and Implementalion in order to assess its feasibility for wider implementation. It wll also include pupil assessments to measure spatial and maths attainment. before and after the intervenlK)n. c. MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITfS PURPOSES FOR PUBLIC BENEFIT In setting objectives and planning for activities the Trustees have given due ¢)Jnsideralion to general guidance published by the Charity Commission relating lo public benefit and are confident that there is an identifiable public benefit. . KEY FINANCIAL PERFORMANCE INDICATORS The charrty generates income from donations. In the year to 31st December 2023 income of £110.084 was ceived. b. INVESTMENT POLICY AND PERFORMANCE The charity has no investments apart from bank daposits in thè f¢Jmi of donations from individuals and trusts. Page 4
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 DECEM8ER 2023 FINANCIAL REVIEW . GOING CONCERN After making approprlate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Fof this reason they continue lo adopt the going concem basis In preparing the financial statements. Further details regarding the adopuon of the going cnncem basss can be found in Ihe Accounting Policaes. STRUCTURE. GOVERNANCE AND MANAGEMENT . Constitutlon On 15th June 2022 a specSal resolution was passed that the name of the company te changed from Leaming Skblls Research Limited lo Learning Skills Reserach Foundation Limited. This was authorised by Companies House on 27th July 2022. The company is regSstered as a charitable company1Smlted by guarantee and was sel up by a Memorandum of AslatIOn on 30th October 2007. The company is constituted under a Memorandum of Association dated 30th October 2C(17 and Is a wlstered chaty number 1124064. b. Method of appointment or electlon of trustees The management of the company Is the respDnsSbllhy of the Trustees who are elected and co-opted under the terms of the Memorandum of Association Ath'des of Association. Appointsnent of a Director of the charity can be made through an ordinary resolutbn. c. Organisation structure and decision making The structure of the Charity is as follows.. Chris Green IChaimian} Caroline Shott (CEO Lady Mary Tovey {MD and Secretary) The two Directors (Lady Mary Tovey and Caroline Shottl have responsibilty of care for the funds raised. Chris Green and Caroline Shott are responsible for monitoring Iwice yearly reK)Orting from the beneficiaries. The three key Trustees Imenlioned above) meet regularly lo deal with affair5 of the charrty- Full Trustees meetings are held as and when necessary bul not less frequently that twice a year. Plans for future peri¢>ds a. Future Dtrvolopmonts The nature of future projects will largely b8 detemiinèd by the findings and rncomm6ndations of thè recently èstablished Think-lank. Page 5
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 DECEM8ER 2023 TRUSTEES. RESPONSIBILITIES STATEMENT The Tnjstees (of whom C A Shott and M Tovey are also directors of Leaming Skills Research Lbmlted for the purposes of company lawl are responslble for Pfeparing the Trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (Unfted Kingdom Generally Accepted Accounting Praclicel. Company law requires the Trustees to prepare financial stslements for each financial year. Under company law the Trustees must not approve Ihe financial slalements unless they are satisfied that they give a true and fair vlew of the slate of affalrs of the charitable company and of the Incoming resources and application of resources, ncludlng the income and expenditure, of the chanlable company for that peric¥J. In prepadng these flnancial statements, the Trustees are required to.. select suitable acc£sunting policies and then apply them consislenuy. observe the methods and principles in the Charities SORP-, make judgments and accounting estimates that are reasonable and prudent: prepare the financial slalements on the going o)nc6m basis unless It is inappropriate to presum8 that the charitable company will continue in operation. The Trustee$ are responsible for keeping adequate ac¢ounting rerS that are suffiuenl lo show and explain the Charitable compan$ Iransa¢tions and disdose with reasonable a¢¢uracy al any lime the financial position of the charitable MpanY and enable them lo ensure that the financial slalemenls mplY with the Companies Act 2. They are alw responsible for safeguarding the assets of the charitable company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities, This report was approved by the Trustees. on 15 October 2024 and signed on their behatf by.. C. Shott Page 6
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEM8ER 2023 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEARNING SKILLS RESEARCH FOUNDATION LIMITED (the 'company') I report lo the charity Trustees (who are also Directors for the purpose of company lawl on my examination of the accounts of the company for the year ended 31 December 2023 which comprise the Statement of Financial Actlvities, the Balance Sheet and related notes ThSs report Is made solely lo the companls Trustees. as a body. In accordance with sectlon 145 of the CharitSes Act 2011. My work has been undertaken so Ihal I might stale to the companls Tnjstees those mallers l am required to slate to them Sn an Independent examinerfs report and for no other purpose. To the fullest exlenl permitted by law. I do not accept or assume responsibility to anyone other than the company and the companqs Trustees as a body, for my work or for this report. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the company land ils dlrectors for the purposes of company law) you are responsbble for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (e 2CIJ6 Act'l. Having Sasfied myself that the accounts of the company a not required to be audited under Part 16 of the 2006 Act and are eligible for independent examlnalion, I report in respect of my examinatlon of the companls accounts carried out under section 145 of the Chadlies Act 20111 the 2011 Acl'l. In carwng out my examination I have followed the Diredons given by the Charity Commission under sectlon 14515}Ib) of the 2011 Act. An independent examination does not invdve gathering all the evidence that would be required in an audtt and consequently does not cover all the matters that an auditof considers in giving their opinion on the financial statements. The planning and conduct of an audrt goes beyond the limited assurance that an independent examination can prOde. Consequently l express no opinion as lo whether the financial slalements present a Irue and fair, view and my report is limited lo those specific matters sel out in the independent examiner's statement. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I can confirm that no matters have come to my attention in connection with the examinatK)n givlng me cause to believe-. accounting records were not kept in SPect of the company as required by section 386 of the 2006 Act" the accounts do not accord with those records,. or Ihe accounts do not comply with the accounting requlremenls of secloon 396 of Ihe 2006 Act other than any requirement that the accounls give a 'true and fairf view which is not a matter c£)nsidered as part of an independent examinatlon.. or the accounts have not been prepared In accordance with the methods and prfndples of the Slalement of Recommended Pradce for accounting and reporting by charities lappllcable lo charities pparing their accounts in accordance wlth the Flnancial ReFM)tlng Stsndard applicable in the UK and Republic of Ireland IFRS 102}1. Page 7
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) INDEPENDENT EXAMINER'S REPORT Icontinuedl FOR THE YEAR ENDED 31 DECEM8ER 2023 I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understandlng of the finanaal statements to be reached. Signed.. A Koupland Dated.. 15 October 2024 ACA CALDERS (18831 LLP Chartered Accounlanls 30 Orange Street London WC2H 7HF Page 8
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME ANO EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEM8ER 2023 Unre¥tricted Restricted funds fund¥ 2023 2023 Total funds 2023 Total funds 2022 Nole INCOME FROM: Donations and legaues Conference income 30,084 3,400 80.000 110.084 3.400 83. 750 TOTAL INCOME 33.484 80,1)00 113,484 83. 750 EXPENOITURE ON: Raising lunds Charitable aclivilies.. Events Costs Consuliancy You Gov Survey Malhs Anxiety Govemance 9,500 21.463 6.782 26.984 19.858 4.744 301 301 89,788 89,788 20,352 20,352 TOTAL EXPENDuRE 20,653 89,788 110.441 88.131 NET INCOME I (EXPENDITURE} BEFORE TRANSFERS Transfers between Funds 12.831 50 19.7881 1501 (4,387J 11 NET INCOME I (EXPENDITURE) BEFORE OTHER RECOGNISED GAINS AND LOSSES 12,881 19,8381 {4.381J NET MOVEMENT IN FUNDS 12,881 19.8381 (4.387J RECONCILIATION OF FUNDS: Total funds brought forward 6,124 64,106 70.230 T4,617 19,005 54,268 73,273 TO.230 TOTAL FUNDS CARRIED FORWARD The notes on pages 1110 18 form part of these finanaal sialements. Page 9
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) REGISTERED NUMBER: 06413331 BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Nole FIXED ASSETS Inveslments 1.201 CURRENT ASSETS Debtors Cash at bank and in hand 52,542 2Q,653 29.165 77,810 73,195 CREDITORS: amounts falling due within ono year 10 15,7381 (2,966) NET CURRENT ASSETS 72,072 TO.229 NET ASSETS 73.273 70,230 CHARITY FUNDS Reslricled funds Unrestn'cted funds 11 54,268 19,005 64.106 6.124 TOTAL FUNDS 73.273 70.230 The company's finanaal statements have been prepared in accordance with the provisions applicable to companies subject lo the small companies regime. The Trustees consider that the company is enliued to exemption from the requirement lo have an audit under the provisions of section 477 of the Companies Act 20061.lhe Acl'l and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with resFeCt lo accounting records and the preparation of financial stslements. The financial stslements were approved and authorised for issue by the Tnjslees on 15 October 2024 and signed on their behalf. by.. Capoliiig C. A Shott The notes on pages 1110 18 form part of these finanaal stalemenls. Page 10
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023 ACCOUNTING POLICIES 1.1 Basls of preparatlon ol Ilnanclal statements The financial statements have been prepared in accordance wf(h Accounting and Reporting by Chariues.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wtth the Financial Reports'ng Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective 1 January 20151- Ichadties SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Leaming Skllls Research Foundation Limited meets the definition of a publlc benefft entity under FRS 102. Assets and liabilrties are initially reccNJnised al hislorlcal cost or transaction valve unless otherwise stated Sn the relevant accountlng wllcy. 12 Company status The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up. the IlabS1ty in respect of the guarantee is lim5ted to £1 per member of the company. 1.3 Income All Income is recognised once the company has entitlement to the Income, tl is probable that the Income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation lo dOnatS recelved under Gfft Aid or deeds of covenant Is recognised at the time of the donation. Page11
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023 ACCOUNTING POLICIES {contlnued} 1A Expendlture Expenditure Is recognised once there is a legal or conslruclive obligation to transfer economlc benefit to a third party, It is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligafjon can be measured reliably. Expenditure is dassrfied by aclivity. The costs of each activity are made up of the totsl of dlrecl costs and shared costs. Induding support costs Involved in undertaking each actlvity. Dbrecl costs attdbulable lo a single activity are all¢xaled direcily lo that actbvity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single actlvity are apportboned between those activities on a basis conslstenl wth the use of resources. Central staff costs are allocated on the basis of lime spent, and dePrec5aOn charges allocated on the portion of the asset's use. Support costs a those costs in(#Jrred dlrectly in support of expenditure on the oblects of the company and include project management carried out al Headquarters. Govemance costs are those Incurred In connection administrallon of the company and compliance YAth Ca)nstitutSonal and stslutory reqU5Ments. Costs of generatlng funds are costs Incurred In attradng voluntary Income. and those Incurred In tradlng activities that raise funds. Charitable aCt[tieS and Govemance costs are costs incurred on the company's educatbonal operations, including support tx1$ and ¢xtsts relan9 to the 9ovemance of the company apwrtioned to charitsble aclivilies. Grants payable are charged in the year when the offer is made except in those cases where the offer Is condttional, such grants being recognised as expenditu when the conditions attaching are fulfilled. Grants offered subject lo conditions which have not been met at the year end are noted as commitment, bul not accrued as expenditure. All expenditure is Inclusive of Irreerable VAT. 1.5 Intangible fixed assets and amortisation Intangle assets are capitalised and reLvJnised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost and are subsequently measured at cost net of amortisation and any provision for impaimienl Amortisalion is provided on intangible fixed assets al rates calculated lo write off the cost of each asset, less their eslimaled residual value, over their expeeled useful lives on the fdlowing bases.. Trademarks 10Yo Straight Line 1.6 Investrnentj Fixed as5el investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured al fair value at the Balance sheet date. unless fair value cannot be measured reliably in which case rt is rneasured al cost less impairment. Investment gains and losses. whether realised or unrealised, are combined and shown in the heading 'Gainslllosses} on investments. in the Statement of financial aclivttie5 incorporating income and expendtiure account. Page 12
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023 ACCOUNTING POLICIES {contlnued} 1.7 Intsrest recelvable Inleresl on funds held on depostt is induded when receivable and the amount be measured reliably by the company., this is nomially up)n nolrfication of the intefesl pald or payable by Ihe Bank. 1.8 Cash at Bank and In hand Cash at bank and Sn hand includes cash and short temi highly Ilquid investments with a short malurily of three months or less from the date of acquisition or opening of the deposit or similar account. 1.9 Llabllltles and provlslons Liabbllties are recognlsed when there Is an obIlgaOn al the Balance sheet date as a result of a past event, il is probable that a transfer of economlc benefit will be required In setuemenl. and the amount of the settlement can be estlmaled reliably. Liabilities are recognised at the amount that the company anticlpales tt will pay lo settle the debt or the amount it has received as advanced payments for the goods or servlces il must provide. ProvSslons are measured al the best estbmale of the amounts required lo settle the obligation. Where the effect of the lime value of money Is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rale that reflects the risks specific lo the Ilability. The UnndIng of the dIount Is recognised wtihin interest payable and similar charges. 1.10 Fund accountlng General funds are unreslrfcled funds which are available for use at the dlscretlon of the TnJstees in furtherance of the general objectives of the company and which have not been designated for other purposes. Restrlcted lunds are funds which are lo be used in accordance wf(h spectfic restrictions Imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is sel out in the notes to the financial statements. INCOME FROM DONATIONS AND LEGACIES Unreslrlcted Restrfcted funds funds 2023 2023 Total funds 2023 Total funds 2022 Donations Glft aid 10.084 20.000 80.000 90.084 20.000 TO.000 13.750 Totsl donalions and legacies 30,084 80,000 110,084 83, 750 28. 750 55.000 83, 750 Page 13
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023 OTHER INCOME Unrnstrictèd funds 2023 Rèstrictsd funds 2023 Total fundi 2023 Total funds 2022 Conference income 3.400 3.400 MATHS ANXIETY COSTS 2023 2022 Book publishing costs Professional fees IT support costs Website and promotional Event costs 5,6B6 330 18,473 672 64,627 12.968 2.445 3. 706 739 Total 89,788 19.858 GOVERNANCE COSTS 2023 2022 Accounlancy fees Professional fees Bank charges Website & promotional costs IT costs Publishing costs Loan balance write bad( 2,372 2,361 174 2,266 7,732 42 5,405 2.890 986 88 180 Total 20,352 4,144 TRUSTEES EXPENSES During the year, no Truste8s rec8ived any rernunerab"on12022- £NILI. During the y8ar. no Trustees received any reimbursement of expenses12022- £NILI. INDEPENDENT EXAMINER The Independent Examinels reMUneraOn amounts lo an Independent ExamlnalTron fee of £1,550 {2022.' £1,550) Page 14
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023 INTANGIBLE FIXED ASSETS Patents and Tradomarkx Cost At 1 January2023 Disposals 3,173 13.1731 Al 31 Dec8mber 2023 Arnorti5ation At 1 January 2023 Foreign exchange movement 3.173 13.1731 At 31 December 2023 Carrylng amount Al 31 December 2023 At 31 D8cember 2022 FIXED ASSET INVESTMENTS Unlisted se¢uritie$ Historical cost Al 1 January 2023 Additions 1,200 Al 31 December 2023 1,201 Investmenls at historical cost comprise: 2023 2022 Unlisted inv8Stments 1,201 All the fixed asset investments are held in the UK Page 15
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023 10. CREDITORS: Amounts falllng due wlthln one year 2023 2022 Trade credllors Other creditors Accruals and deferr8d income 2,772 266 2,700 266 2, 700 5.738 2.966 11. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 31 December 2023 Balance at 1 January 2023 Translers inlout Income Expenditure Unrestricted fund¥ Reserves 6,124 33,464 {20,6531 19,005 Reslrlcted funds Maths Anxiety Leamus Confèrences 64.056 80.000 (89.7881 54.268 Iso) 64,106 80,000 (89,7881 Iso) 54,268 Totsl offunds 70,230 113,484 1110,4411 73,273 Page 16
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023 11. STATEMENT OF FUNDS Icontlnuedl STATEMENT OF FUNDS- PRIOR YEAR Balance 81 31 Decembér 2022 Balanc& al l J8nu8ry 2022 Transfers in/oul Income ExnditUrn General funds Reserves 25,647 28.750 (41.289) {6.984J 6, 124 Raslrlet•d fund8 Maths Anxiety Leamus Conferences YoLJGov Survey 28,914 55,000 (19.858J 64,056 20,000 (26.984) 6,984 48,964 55.000 (46.842) 6.984 64. 106 Totsl of funds 74,611 83.750 (88. 131) 70,230 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Unrostrlcted R•strS¢t•d fund8 fund$ 2023 2023 Total fund$ 2023 Fixed asset inv8slments Current ass8ls Creditors due within one year 1,201 8,110 15.738} 1,201 77,810 15.7381 69,700 19.005 54,268 73.273 ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Unrestricted funds 2022 Restricted funds 2022 Total funds 2022 Fixed asset investments Current assets Creditors due within one year 9,089 (2,966) 64.706 73,195 (2,966) 6, 124 64,106 70,230 Page 17
LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023 13. RELATED PARTY TRANSACTIONS Th8 directors consider Leaming Skills Foundation Limited (Company Number (K)6322787} lo be a relal8d paty by virtua of company direclofships. During th8 year, the company paid management fees of £nil 12022- £9,51M)I to Learning Skills FoundatDn Limiled. Al 31st December 2023, Leaming Skills Research Foundation mIted was owed £48,646 {2022: £52,543) from Learning Skills Foundalion Limited. The following payments were made during the year lo trustees and those connecled lo the Iruslees on a normal commercial basis_ E Trevelyan Johnson Ison of CA Shottl £11,6(K) for lecture filming costs. P Trev8lyan - Johnson (spouse of CA Shott) £15,600 for IT support costs. Page 18