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2021-07-31-accounts

Charity Registration No. 1129696

Company Registration No. 06743505 (England and Wales)

TEES VALLEY LEARNING PROVIDERS NETWORK LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

TEES VALLEY LEARNING PROVIDERS NETWORK LTD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr MR Foster Mr DA Thompson Charity number 1129696 Company number 06743505 Principal address Bizspace, Office 13G Queensway House Queensway East Middlesbrough IndEst Teesside TS3 8TF Registered office Bizspace, Office 13G Queensway House Queensway East Middlesbrough IndEst Teesside TS3 8TF Independent examiner Benson Wood Ltd Unit 21 Belasis Court Belasis Hall Technology Park Billingham TS23 4AZ

TEES VALLEY LEARNING PROVIDERS NETWORK LTD

CONTENTS

Page
Report Of The Trustees report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 12

TEES VALLEY LEARNING PROVIDERS NETWORK LTD

REPORT OF THE TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 JULY 2021

The trustees present their report and financial statements for the year ended 31 July 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and Aims

To provide the highest quality training opportunities to the people of Tees Valley and offer a real alternative to the more traditional academic routes, in addition to increasing the awareness of vocational progression routes.

This in turn will improve the skills levels, job opportunities and overall prosperity of the people of Tees Valley.

Key Achievements for 2020/2021

Collaborative Network

Collaborative School Strategy - ASK Project

TVLPN is a delivery partner for the Apprenticeship Support and Knowledge for schools and colleges programme (ASK), which is funded by the National Apprenticeship Services, part of Department of Education.

Through the project the delivery partners continue to offer every educational establishment a bespoke engaging support package to transform apprenticeship and traineeship knowledge, offering provision to years 10, 11, 12 and 13 across Tees Valley. The project aim is to work with students, teachers, careers advisers, and parents/carers, alongside other key partners to support schools and ensure that they meet their statutory duties regarding the provision of impartial information advice and guidance, specifically in relation to apprenticeships, traineeships and T-levels.

Target Actual
Establishments 80 65
Planning Meetings 80 81
Activities 260 263
Teacher Upskilling 200 146
Pupils Engaged 12,000 15,543
FAA Registrations 1,600 1,354
Parents/Carers 840 937

TEES VALLEY LEARNING PROVIDERS NETWORK LTD

REPORT OF THE TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

Collaborative Marketing

Collaborative Training

Collaborative Partnerships

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr MR Foster Mr DA Thompson

The Report of the Trustees report was approved by the Board of Trustees.

Mr MR Foster

Trustee

Dated: 7 December 2021

TEES VALLEY LEARNING PROVIDERS NETWORK LTD

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF TEES VALLEY LEARNING PROVIDERS NETWORK LTD

I report to the trustees on my examination of the financial statements of Tees Valley Learning Providers Network Ltd (the charity) for the year ended 31 July 2021.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Mrs S White

Mrs Sharon White ACCA Benson Wood Ltd Unit 21 Belasis Court Belasis Hall Technology Park Billingham TS23 4AZ

Dated: 8 December 2021

TEES VALLEY LEARNING PROVIDERS NETWORK LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2021

Unrestricted Unrestricted
funds funds
2021 2020
Notes £ £
Income from:
Donations and legacies 3 51,388 81,180
Investments 4 707 1,416
Total income 52,095 82,596
Expenditure on:
Raising funds 5 51,532 65,412
Governance costs 1,320 1,320
Other 399 -
Total resources expended 53,251 66,732
Net (expenditure)/income for the year/
Net movement in funds (1,156) 15,864
Fund balances at 1 August 2020 149,816 133,952
Fund balances at 31 July 2021 148,660 149,816

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

TEES VALLEY LEARNING PROVIDERS NETWORK LTD

BALANCE SHEET

AS AT 31 JULY 2021

Notes
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds		 2021
£
1,482
152,773
154,255
(5,904)		 £
309
148,351
148,660
148,660
148,660		 2020
£
4,173
159,911
164,084
(14,760)		 £
492
149,324
149,816
149,816
149,816

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2021.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 7 December 2021

Mr MR Foster Mr DA Thompson Trustee Trustee

Company Registration No. 06743505

TEES VALLEY LEARNING PROVIDERS NETWORK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

1 Accounting policies

Charity information

Tees Valley Learning Providers Network Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Bizspace, Office 13G, Queensway House, Queensway, East Middlesbrough IndEst, Teesside, TS3 8TF.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

TEES VALLEY LEARNING PROVIDERS NETWORK LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2021

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 25% on cost Computers 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

TEES VALLEY LEARNING PROVIDERS NETWORK LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Project and grant funding 50,197 55,431
Services and members' fees 1,191 25,749

TEES VALLEY LEARNING PROVIDERS NETWORK LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2021

4
5		 Investments
Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Interest receivable
707
1,416
Raising funds
Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Fundraising and publicity
Support costs
51,533
65,412
51,533
65,412		 Investments
Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Interest receivable
707
1,416
Raising funds
Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Fundraising and publicity
Support costs
51,533
65,412
51,533
65,412
65,412

TEES VALLEY LEARNING PROVIDERS NETWORK LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2021

6
Support costs
Support costs
Governance
costs
£
£
Staff costs
38,046
-
Depreciation
185
-
Travelling
795
-
Room hire and
catering costs
-
-
Telephone
966
-
Postage and
stationery
204
-
Sundries
104
-
Subscriptions
656
-
Event costs
1,640
-
Repairs and
renewals
396
-
Advertising
3,004
-
Bookkeeping
298
-
Rent
4,180
-
Insurance
1,059
-
Accountancy
-
1,320
51,533
1,320
Analysed between
Fundraising and
charitable activities
51,533
1,320		 2021
Support costs
Governance
costs
£
£
£
38,046
40,383
-
185
219
-
795
1,437
-
-
1,189
-
966
952
-
204
255
-
104
469
-
656
691
-
1,640
10,702
-
396
85
-
3,004
3,504
-
298
298
-
4,180
4,287
-
1,059
941
-
1,320
-
1,320
52,853
65,412
1,320
52,853
65,412
1,320		 2020
£
40,383
219
1,437
1,189
952
255
469
691
10,702
85
3,504
298
4,287
941
1,320
66,732
66,732

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

8 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
2 2
Employment costs 2021 2020
£ £

TEES VALLEY LEARNING PROVIDERS NETWORK LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2021

8 Employees (Continued)
Wages and salaries 37,283 39,616
Other pension costs 763 767
38,046 40,383
9 Tangible fixed assets
Fixtures and Computers Total
fittings
£ £ £
Cost
At 1 August 2020 670 1,618 2,288
At 31 July 2021 670 1,618 2,288
Depreciation and impairment
At 1 August 2020 260 1,535 1,795
Depreciation charged in the year 102 82 184
At 31 July 2021 362 1,617 1,979
Carrying amount
At 31 July 2021 308 1 309
At 31 July 2020 410 82 492
10 Debtors
2021 2020
Amounts falling due within one year: £ £
Trade debtors 798 3,140
Prepayments and accrued income 683 1,033
1,481 4,173

TEES VALLEY LEARNING PROVIDERS NETWORK LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2021

11 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
12
Trade creditors
Other creditors
Accruals and deferred income
Deferred income
Other deferred income		 2021
£
380
1,800
68
143
3,513
5,904
2021
£
1,800		 2020
£
377
1,800
8,292
143
4,148
14,760
2020
£
1,800

12 Deferred income