C'h1( rity reoislric livii iiiinibej.: 11421U.S NEW Lo,DoN EDTJC.ATIONAL TRUST ANNUAL REPORT AND FINANCIAL qTAI'LI MENTS FOR TIIEI YE4 AR ENDEI D 31 DECEMBEI R 2022
lii.siile tlii.g Repopl C-'oJiteiit P<lge5 Refci'ence aiid dii)illislrative deloil Tiiistees, i'cport Ittdcpc]C1]I aiiditol S IEPOI't St£ltCliiei)i of fancIal activitE¢s 10 Balaiicc slieel Siatemci)t of C1£ sb Ilows 12 Not¢$ to tl)¢ fiiiaiicial stateE))ellts 13-23
Neiv Londiiii E(liiclltioiiql Triist Le2111 Iinrfl Ailiiiiiii.51riitii'e Jiil'vi'nixtion Refei'ence an(I:iilininiyti'Atii'c infoi'niAIioi) Cbai'ity Nuniber 1142105 Comi)any Niiml)er 11692296C) Registei'e(l Offile Sceplre Hoiise 75-81 Stailles Road Hoiillslow, Loijdoii Ejjfrlaud TW3 3HW Ti'iist¢e% The Iiiislees Ji)d dii'tclors sei'ving diiriiig the y¢4ll- kuid siiice tlie yeic r ¢i)d iv¢re as follows.. EinJntti)iiel Mellsc?l) Arotey Vellkoteshoni Ncela Siijaw Rcddy B<lddam Aiiilitoi's Accoiii)IilX (UK) LiJnit¢d 22-25 Portlllclll Close M1¢ rylebone Lulldon Eiiglcincl WIH CIBS Icey MaiiiigcinL'iit Pei-suuiiel Iai) Whitehead {Dircctoi' of Opeialioiis) Dr An1[ Rllnas2iiglie (Direcior of Ediicalioii} Page I
Neiv EIliiLatiiiiittl Tyiist TJ'u.5tces' Reiioi't (Inilu(ling Dii'ectoys R¢poi't} {Loiitiiiueil) Foi. tIIL Yeai. Ei n(le(131 DeLembL'I' 21122 Tl)c tnistees piesejit Ilicir <limiial i'cpoi't aJ]d fiiic1ncial slateiTieiils foi. Il)e yCc11' eiid¢il 31 Deceinbcr 2022. The fiDatlClcl1 slolaiicnts hcive beeii pi'epai'cd ill c1ccoirfaiice ivith the ciCCOlllItiii policies set oiit ill iiote I to die fiiiai)01<i1 stIL ieiiieiits 4111d coiiiply with cliarity's ¥ov¢riiiiig dociurent, Ihc Coiiipaiiies Act 2006 alld 'Aceoiwting .ii)d RepoL'tin¥ by Cliir rili.. Stateiii¢iil of Recoiiiiiieiided PJ'Elclice applicnble lo cliarili¢s prepariiig theii. accoiinls iii accoi'daiiee with tlic FiD¢lllcial Reporting Staiidard appltcJbl¢ in Ibe UK aiid R¢public of I1'clid {FRS 1021" (cffective l Ji1niiary 201I)). Pi'iiiciiTr'il Actii'ities NLET'S priiieip41 %iclivilies <ll'e lo ndvi¢ l)ce tl)e eduellioi) of tlie piiblic iii the Ulliled Kingdoiii alld elscwl)cre Ill parti¢iil11l', it llot excliisiv¢ly, by Ilie pi'ovigion of eiliiccTrliollc1I pi'ogiMi?Is, 5ki118 tTaillillg ai)d woi-ksl)OPS, 1c dvice iiiforii)alion o ediic¢ilioiial. cEkiplobljIty 1( lid cayeei's opporttinilE¢s aiid by developii?g. eiicoiiraging alid siipportiiig leIling pllrtllcrsliips beNveell ecliieatiOlJ41101'giiiiizali011s, biisillesscg aiid Ili¢ volui)1<11y sector. OlJjeLtives.In(I IlLtivitie5 Ovi. 01)jeLtiY¢: l. To ndiTa])c¢ ilic ediicalion of ibe piiblic in the Uiiited KiLigdoi]2 aiid cls¢i4,hcr£ in lJc11tieiiltu' bul Eiol excliisively by the proiqs1011 of foiilldatioj) programs ftnd ivotkshops, advi¢c 1¢ lid illf011)11l1ioii on eLliiLiitlUlll4 l opporliiiiitl¢S i1Vlc ilable in the UEiilcd KiiigdL)iii ai)d by developillg. ciicoiiraging ftnd suppoi1iiig IcariiiJ]g parliiei'sliips beli¥eeii ¢(IIiclE IiLiii£11 organizLilioiis, biisiiicsses E1nd ihc voliit)1lL ry sector. To c1dvai)ce ediiealioii and ti'aii)illg, by Ilie provision tsiid conduct of ali independeiit school or scliools and, insofDr as El is ii)cideiilc11 or aDcillc1ry to the adv#iiccmci)l trf educalioll of el)ildrcll in Ihe Ullil¢d Kingdoiii ond elsewhere, to Cilrry oiil siicb aclivities, ii)¢liiding the provisioii oFclPPI'opriate fttcilities for ediiccltion. 3. To fiii'tlier siich otlieE' charil%ilile piwposes Foi. the piiblic bellcfil as aye excliisiv¢l)I ch2( I'it1ble accoi.diii8 to th¢ Iiivs of Eii¥li4 lid aiid W1£ les tiic IiLislees mas, froiii lii))e to liin¢ detei'iniiie. OUA. li10 Stlltemet: To be a progi'essivc ¢1141'ity ii,Iici'e evei"yoiie lias the oppoi'ttyJEty to ¥i'oiv, llcliieiic aiid iinproiie tlietr liFe ¢111¢ lices Illl'oiigh educiTrtioJi, Ii'i¢ iiiing <lLid cniployn)cllt related 1pPort. OiIi' Viiliie.s: Tlie valiies that we aspire tLI lIoi1¥h oiir ivoi'k. incltide.. Care <21111 coinpussEoJJ¢lre supi)ort foi. all individiittls. D¢liv¢r qLialiry sci'vi¢¢s to all individiials ivho pai'iicip1L te ill services at NLET. Listcll Git)d r£spoiTrd empailietically lo oiir learn's. Respect for all.. Iraliiing L,1cli persoi), Ilieii. experience, opiiiioiis nd ¢lioices. Our PYinLiple$'. Tlic pi'inciples ivc iipliold i]Tr our ivoi'k iiicliide.. lii¢lEisiiyelless Ivelcoining people from oll backgroiiiids, Ire1c ling tlieiii fil irly, recognising and valuillg tl)eir distiJicliveJJess as ii)dividiials. Einpoivermeiit. eieLiliiig Illl ciivii'onnirnl IIIiE t ei)ables people lo ILike coiilrol of ilieii. learning. 8ki]Is and eiknploJqiienE go£ils, by lisleDiiig lo theiii and offerii)g cl)oice ivli¢i'¢vei' possible. Eqiiality in Ilie delivei'y of edii£alioD Ilnil trainino to oiir Iecll'iie 4illd slli ff; recogiii5ing nil valiiing tbe diversity of the conu]iiiiiilies ive serve. Page 2
Neil, LDndoii EdiiiJTrtioiial Tyiist
Ti'uylees. Rei)oi't OncIniliii Directors, Rci)ui'l) (coiitrinued)
Fui. Illl I'cdl. Ei nile(131 DeLeml)ei' 2(122
Piil)liL Bi'nefil..
We Iiave i'efci'rcd to the guiid*iric¢ 111 tli¢ Cl)¢l]'ity Coiillknission g¢n¢ri¢ I gEiid¢illCC on piiblic beiiefil M,hcii Ycvieiviiig 0111. allS
aiid objecliv¢s and in p11( lltiillg our fiiliire £lCtivities. hi PiL iliciilar, Ilie 1i1151ees coiisidci- Iiow plaiincd u¢livili¢s ivill coJ)tribiile
to tl)¢ aiins aiid obj¢ctlV¢5 Ibal tliey hai't set. Tli¢ Inaill activity of tht cliai-itable coinpany is il)e opci'ic tiou of tlie tl'LisI's
edii¢¢llioiial, liainiiig ¢?iid ciiiployin¢ni r¢lat¢d suppoi'l s¢¥vi¢¢s. Th¢ pii]yosc is io provide i'icb and releiTant sju'llsleducalional
deiiclopnient foi. P1E rlicipaiils 111 Olir coiniiiiuiilies IhEI1 cnic blcs theiii to be successfiil in IheiL next stage of leiiriiillg or
ploweiil. The trii5tees Ii£iiie Pls id diie reg7 I'd to 8uid11 1)¢e igsiied by tb¢ Chgl-ity Coi)IEllission iii d¢cidillii iirlmt 11clivilics
tlie chai'ity shoitl(l uiidertake.
Acliievenieiit.8 iinil pei'foi'm#iice
Diirtllg the PEI'iod NLET suppoi'l¢d the ediic<ional aiid thi)ployabittty iiE¢d5 of ovei. 500 pariicipanls. PartÉcipanls who iv¢i'¢
eEi¥agrd in fol"J171 qili< lifiGatiolls oli oiii" ESEA ALL pJ'ogru111 Threi'e able lo tlljoy
Neil, Lun(lon Ei (IIiLatioiiAI Ti'ii%t
Ti'ustees, Rei)oi't (Incluiliniv Dii'ectoii, Reiiort) (¢oiitiiiiiL(I)
Foi. tlIL Yeai. Eiiileil 31 DecimbLI' 21122
Planb fvi. futiii'e
Durtiig 2022, tl)e ii)Ipluiieiiialioii of a di2ltal strategy ¢uablcd tr£inspareiicy, ccoiiiilability 1( nd effieieiicy tl)roiighoiit
op¢rational aiid pi"ogry'1I In delivery.
Thc ts"uslc¢5111¢ ve continiied to provide stt'Lltegic guidaiiee 10 operillÈotll¢151aff to slrciigihcii tbe systems alld i)ro¢¢ss¢s ai
pi'ojcct aiid Or]niS1t10na1 leiJ¢l, enliancing oiii- s¢niic¢s aiid i)rovision. The trtislccs i'elljllin fociis¢d contilllliil
iijJi)roiTeElleiil to siipporl thc corc purpose of Ilie NLET inissioii stalciiiei)t. Tliis fttlls iiito 6 kcy priority al'e1£ S..
Qiialiti, of PR'lPI'TrSi()iI- Eu&iTe tlie desigll aiid developiiient of provision iiic¢ts tlie needs of <111 partiCiP<111ts.
2. BLlk¢l5'iDiir llii(l Attitiiile.s - Et)surc inÉcs of&ttendattce of all parli¢ipJii15, ¢specially tljose most disodvantaged, are
typically aboiT¢ 9
3. Peisonal Developmeiit - P¥ovtsion of welfare and sttidckil scryicc siippori to llnproiie the p¢rsollal d¢v¢lopillent
2iid ivellbeiiig ol-pai'iicipaiiis CLOSS NLET.
4. LeIle1.511111 & Manilgemellt - P¥ovide efftetive pi'ofessioDIl1 d¢v¢lopiiient foi. Lill leic ders tkn'oudi sliai'lug best
pr47clice <ind iitilEsiii¥ ¢ap1i cily Froin ivhcrc l¢ii
Nciw Liiiiiloii Ei diletiOl¥l Ti'ii.st Tru.stees' Rei)ni't (Inelu(ling l)ireclors' Rei)oi't) (LOI)tiiiued) Fi)I' tlie Y¢AI' Ei udLd 31 Dcicnhber 2n22 Tlic tnisl¢cs. Ivlio re also the diirctors for tlie piirposc orc0partY law, aiid ivho served diii'iiig ilie yeir %iiid LIP to the dare ofsigiiatUFe of Ihc fiJiaiici1I s11{ leinenls Mi¢i-e'. Mr EM Afolty Mi" V N¢¢la Is S Bi¢ ddoJ]] Quftlifyiiie tliir(I party iii(leninity i)i'OVlSi0115 lenil)¢Ys' Liabilitv-. Every In¢tiibei' of tbe charilI1ble coinpany Ltndcitalccs lo coDtribiite to ihe issets of tlie coinpaiiy in Ib¢ evcnl of it being woiilld lip ivliilc belshe is u membcr, or wiiliin OTe l)eriod <iEt¢r h¢/sh¢ ¢cases to be a membcr, sucli aD]oiiiil Jlll& y be reqiiired, iiol exceeding £1 O, for tho debis aDd IiLlbililies conlracted bcfoi'e l)elshe ceiises lo be a Mi¢Tr)Iber. Ti'ustee%' Iii(lemiiitie5'. NLET has piii'chnsecl iD.Eiiraiice to covci. liiisEees ind offIc¢rs from clai]lls arisii)g fi'ony llegligciit Cts, erlors oi. oniissioiis occiin'ing iiihilsi oli biisiness. D¢lails of the costs cwi be found itt Ihc IE CCOlllIts. Truslec Boiird.. The diirctOTS of th¢ COJiiPiL Ily £ll'e,Ilso ¢hui'ily 11115tees foi. the purposes of charity Iclw l)d Lin(ler Ihe coitspaiiy'5 kn.ticles l'e knoivll ¢iS iiieiiibci's of tlie cot)iP1c iiy. All tiiigtee appoÉntsiieiils lire illterviEived, assessed aiid llpproved by tli¢ Boc?i'd of Trusiecs. Applic%l1ions for trnslees &r¢ en¢oiir&ged fi'oni L111 sections of the coniiiiiinity that reflecl the diversity ntid rlge of coiiiinullity aiid busiiicss grollps NLET ivoi'ks witli. OR'¥Miiisatii)nkil Sti'uLtITrL: Alilioiigh the Board of Tiiistees is ic kcy player ivithiii Ihc goveriia1i and strlllegy, aiid ivill Ilierefore i)111ke key dccisions I'egardiijg ihc diieciion ofih¢ chwity, Ilie iiiiplementc1rion ofthc stl'iTrtcgy is dcleBaled to th¢ appi'oprill te exeeiiiiiie gl4lff wlio 1r¢ boiiiid by Ihe policies aiid ijrocedui'es i]J<lt ar¢ icpproii¢d by Ibe Board kuiiiually. The trustccs ui)d the Selliot Lead Teain ISLT) are resi)onsibl¢ foT policy aDd proccdLir¢s, the opcraliiig biidgel, ll¢w projects and niaking d¢¢isions ciboiit majoi. capilal exi)endittir¢ iwid appoiiitmellls. The SLT (ire I.espoilbI¢ for the aiithorizll tioti of spenclittg Ihc agreed opercltiiig biidoet atid tlic appoiiiliiiellt 0£ ¢ill siaff, cxccpl slaiT appciiiitinelll to tlie Senioi. Leodei'ship TcaDI. Thc cippoijilin¢nl of J'ol¢s lo tbe lairei. iiiiisl incliide ts'uslee's The tnistees bave oiJci'ci11 respollsibility for ci)siiiiiig Ihclt the cbarity has in place 1( Iiiiiiiber of syslciiis ciiid collrrols thai safcgii&lL'd Ihe work nd assets of tlic oharily. Tljey are I'espot)sible for ensiii.ing that.. Tknc cli?rily is oper411ing effieiclltly and effeeiiiiely, It's ssets 1¢ re Scifcgiini'ded <lU#ÉllSt iillaiithoi-is¢d iise oi. disposilioii. Ti'iislees nd sottior exeriilETr'c Icaiii arc aCCOLlI)lable. Pi'op¢i r¢coid5 are niainli?i]Jed. Fin10 t)cial infornii?lioii is &cce55ible, i-¢liablc and ¢1ccurnle. Tlie clicl1.ily coinplies wiib r¢1Cvt laMIs Ilnd i'egiilatioiis. Th¢y iclentify and I'evieiv Ilic I'isks to whieli Ilie cliai'ity is exposeil alld to ei)siii'e appropi'iLilc coiitrols arr in place lo providc Leasoiiilble c1SSIU'li lice against fi'aiicl *i)d ¢J'i'oi'. Page 5
Neil, Lilnilon E
r+lew Lon(loii ducalioiiiil Trusf Ti'ustees, Rcpui't (ljicliiding Diyeetoi's, Repoi't) (eontinued) rioi. tlie Ye&i' Iided 31 Deeenibei. 2022 Statement of triistees i-esponsibilities Tli¢ Ii'iislees (who al'e also Ilii'eotoi's of New Loiidon Educational 1'rLlSt foi, Ilie piii'poses of coinpaiiy law, are I'espoiisible for prepariiig tlie Trustees, Aniiual Repoi'l aiid tlie fiiiaiiLial statements iii accordance willi applicable law aiid Uiiited Icingdoni Aecoiinting Slaiidai'ds (United Kii)gdoin Generally Accepted ALcoiiiiting Pi'actice). Compaiiy law requii'es tlic ti'ustees lo prcpare fsnancial StatelentS foi. eacli financial yeai.. Under conipany law tho Ii'ustees niust not llppi'ov¢ tli¢ fiiiancial stateii)ents Iitiless tlicy are satisficd Iliat they give a true and fail. view of the stale of affaii's of the chai'itable coiiipaiiy ai)d of IhB incoining I'esoiirces and appliLalion of iesoiii'ces, incliiding the ineoine and expElldilui'e, of the cliai'itable coiiipany foi. Iliat pei'ii)d. Iii prepdring these financial stateinenls, tILC ti'iistees arc I'eqLiired to: select siiitabl¢ accoiinting pcklicics and Ilien apply thein LQllSiStently; obsei've tlie iiietliods and pi'inciples in the Cliaritics SORP 2019 (fRS 102); Inake jiidEeinents ai)d esliinal¢s that are I'easoiiable Étnd pi'udent: Sfatc wlietliei. appli¢able UIC Accoiintiiig Staiiilards liave been follow¥d, SLibject lo any Inatei'ial deparlurcs disclosed lind explaiiied in Il)e financial slateiiieiits,. aiiil PIEpai'e Il)B fiiiaiicial StatelentS OII tlie goiiig concern basis iii)less it is i11appix)pi'ia(e to presiiine that tlie cliaritable company will ¢oi)tiiiiie in operation. Tlie trustees al'e responsible for k¢epiiig adeqiiate accoLinliiig I'ecords tli&t disclo%c with reasonable ac¢LlI'acy at any time tlie rinmneial position of tlie cl)èJi'ilablc coiiipany and ei)able tl)cin to ensiiye Ilial the fina11cial stateineiits coinply witli tlie Coinpanies Act 2006. They al'e also I'espoiisible foT bafegiiai'diiig tl)e &8s¢ts ofthe chai'ilablc coinpany and hence foi. takiiig Irasonable steps for Ilie pi'evention and detection of fraud and othei. iI'lEgiilai'ities. Iii so fai- £)S the triistees are aware.. Ihei'e is no iylevant aiidit it)foiinatioii of whicli tlic cliai'itable eoinpany's aLiditoi' is iinaware. and the Irii8tees liave laken all steps that tliey oliglil lu havL lakeii to inake theinselves awai'e c>f any relevant audil information ynd to e51ablisli Ilial lh¢ aiidiloi. Is dwai'e of Iliat inforinalion. Appi'oved by tlie Boai'd of Ti'uslees and signed oli ils behalf by.. Mr EM Afotey Ti'LlStee Date: 3 Kh- 24)I Page 7
Neiv Liiiiduji E(IIiLÉltioniil Ti'iist
Inilei)Liidtiit Aii(litor's Rei)oi't
Foi. TIIL YLal' nded 31 DLCLml)ei' 2022
liiilepeiiilLlIt Au(litoi-'s Rei)nrt to the Ti-11stees of Neiv LoAiloll EcluLatiottal Ti'ust
Oiiiiiii)n
Mle IiLlVC aiidiled ihe financiiil slaleinents of New Lolldoii Ediicalioll1c l Ti'iist (Ihe cbarity,) for the year ¢iided 31 DeceJnb¢r
2022 IR,liieli compiisc ilie 8lalement of finiL ncial actillLlies, the billance slieet, the stnlemelll of Cl£ sh flows cilld the notes to
th¢ fillan¢i(Il slat¢tii¢nls, iii¢liidiii8 siiininary of si8nificaiill iCCOllllting policies. Thc fiiJÉl1lCl£111'¢po1in8 fi'ii iiiework iliat
h?£ s bceii applied iii thciT pr¢paiali02] is applic4)ble law and Ui)tted Kiijgcloiii AceoTrinting St.Indui'ds, iiieliidii)g Fin1 Iicial
Reportiiig Standard 1112. lh¢ Fiiian¢ifil R¢porlino S114 n(l<?rd L1ppbcabl¢ ill the UK (d Repiiblic of tre1¥ d (United King(loiJi
Genei'ally Acccpted Accoiiiiling Pi'acticc).
In olli. opinion the filli2ncial statctticols..
gEvc a liwc aiid t&ii' vitllT of the stale of Ilie cli1£ l-itc1ble Coiiipaiiy s i< Ffaii's <iS al 31 DccciiibcT 2022 1£ nd of ils iilcollllllg
i"esources <11)d applic1( tioii of resoiirces, foi. tlie year thell ellded,.
liave been propei'ly pi'epai'ed in 11 CCOI'(lanc¢ ivitb Uiiit¢d Kiiigdojll Gcllually Acc¢pt¢d Accoiwttt)g Pri2ctic¢- VId
11&lve beeii pirpai'ed iii nccordai)c¢ with tli¢ iequirein¢nls of the Coinpaiiic5 Act ?006.
Biisis for Dpiiiioii
W¢ condiicteil oiir )iidit in accoi'dliiice with thteri)atiouol Sialldards oi) Aiiditing (UK) (ISAS (UK)) and applicable law. ]r
responsibiltties utkder those stai)dards ale fiirilici" dcs¢rib¢d sn ilic aiidilor T¢swiisEbilili¢s for Ib¢ aiidit of th¢ fiiiallcial
Slal¢iii¥llls secliuEL of Oill. I'¢POft. We al'e iiidepctideJi( of Il)c chai'ity in accoi-<li& DCC Ivlth Ili¢ cihicill rcqiiireill¢nts Ibat ¢1l-C.
rclevaiil Io 0111" ¢liidil of Ilie fillanCi.Il st2tements in ilje UK, incliiding tbe. FRC'S Eitsical StL1lldard, 1( lld we bave fiilfilled oill.
oilicr cthical J'csi?oti%ibilities ii) aceoi'diL nce ujith these reqiiireinellts. We believe III£1t ihe ciiidit evidellce ive have obtained
is siifficiellt Iid appi'opTiate lo provid¢ a basis foi. oiir opillion.
Coneliisions i-elAtinE tn 20111£ c'ovcei'ii
ltt lIdit11)g Ilie fiii<iiicial stateiiients, Ive l)ave concliid¢d Ihnl tl)c Inisl¢¢s' us¢ of th¢ rtoiiig ¢oii¢¢rn sis of a¢¢oiintillg in
the prep
Neil, Lihnclnii Ei diicxtiOll¢il Ti'iist liiilei)eiid¢ll¢ Au(lÈtoi s Rci)oi'l Foi. TIIL Ye411' Ei nile£l 31 Deceiiil?ei- 2022 MMttei-.4 1)ii ii,hiLII ii'L al'L i-eqiiii-eil tn rei)oi't by exLeiitioii We1111 ve noilling lo repoi'l iii i'espeel of the foll()wii)8 Llll¢ Il¢iE iii i'cl¢11ioii lo ivliicb tlie Chai'ilies (Accoiiiils and Reports) Regiilalions 2008 reqiiir¢ us to tepoit lo yoii IF, itt our opillioll.. the iiifoi'miltioii given in tlie fanCIn sÉftlciiieiits is iiiconsisteiit ii) aiiy inatei'igil i'espcct wÉili thc triistees. i'epoi'l- oi. tlic chc?I'ity lias i)ol beeii kcpl adequate I'ecoi'ds-, or the fiiiwicittl sl#Eei))¢ntS ¢ll'C Ilot in 7¢ ¥r¢ein¢iit ivitli Ili¢ accou])ling records aiid rettnS.. or Ive liave not rcc¢iv¢d all th¢ iLiforinalioii lind ¢xplaniltiolls ive ieqiiire for oiir (iiidit. RespoTisiliilitie% of ti'ii.%te&s Ag cxplaiiiccl ill.¢ fiilly in lh¢ sl<llCI)ienl ol- 1111Stees' respollsib2lilies oil Pityy¢ 7, 11)¢ Ite¢S rc5P0115ible foi. tbe piepai.lio1l of ilic fiiiancial sloiei))eiiig .oiid foi. beiiig S<ilisfied tlittt tliey giv¢ a 11-iic aiid fati. vicwi collti'ol cls tlie liiislees deleniiine is lle¢essary lo en1( ble the prepninlioii of finaticial slttleii)enls that are free fTOIII 111iltei.ial i)iisslatefftnellt, wlicthei. due to fraii<l oi. en'or. In Pl¢P<lflllg tlie fiii<ill¢ial s111 leiii¢nts. lh¢ Irtislc¢s ai"¢ r¢sponsibl¢ foi ¢lssessing Ilie ity's ability to colltiniie lls a going coJic¢rD, disclosing, as applicabl¢, iiiallcrs iclatcd io goitjg Coiicci'ii anil iisillg the going con¢erii basis of a¢¢oilliting iinl¢s$ tlie ITl151ees eiiliei iiilend lo liqiiid¥Trte tlie cliarity oi. to cease opei'ations. or kavc i)0 Icalislio alici117ft biit lo do so. Aiiditoi's i'esi)onsil)ilities for the #ii(lit of the finxiici#l.1tr4)tenirnt We liave been apiJoiiite£l lludi(oi' iii)der seetioii 144 of the Clw'ilie$ Ael 2011 and I'cpoil 171 <iccord<iiice iiiitb I'egiilalioJ)s m<)d¥ linder se¢liull 154 of Ibii I dct. Our chbjcetive< aie to obtaii) rcttqoiittl)Ic th%%uitince 2Lbout ivlictlicr ihc fiiil¥ IICll¢ I st¢ltctiieiitS IL S Il iiiholc lire free fi'olll illlc leriil isstalemejil, Nvlieilier diie lo fi'aiid oi. ei'ior. aiicl to Isle ali iiuditoi s i'epoi't thal iiielLidcs oiii. opinion. Reasoiiable ttssiii'ance is a biuh level of aSsl.01Ce, biit is not L? riDt¢c that 1721 aiidil condiicled iii accoi'd1& nce Hritli ISAS (UK) Ivill cilivc1yS delecr a lIe1'la[ Iiiisstclteineiil ivbeJ] it exists. MisslateEiientS CLIJI c1rise fi'om fi'aiid oi. eiTOI' and (ire cojjsidered niateiial if, indiiridiilllly or ill tlie <iggL'e¥ate, tliey coiild re<1SOlliTrbly be e.¥pected lo iiiflii¢ne¢ Il)e e¢oiioi))ic de¢i£ion8 (Jf ii&cr8 t1¢ kcii oil Ihe basis of Iliese fiD<1llcial stalein&Jls. A fiirthcr dc5criplion of oiir respoll5ibilitiCs for tbc aiidit of tlic financial sliileineiils is Ioc£lted on the Firnoll¢lfil R¢porlii)g Council's ivebsite at.. bttp.'Jliwiryv.fJr.org.iiklcl11(LÉorsrespLTriisibilities. This descripiiom Forn15 parl of 01. aiidilor's rcpr)i'l. Use uf uuj. i'epui't Tliis i'eport is Jnade golely to tlie chllrity'g tsiigtees, <lS n body, in acoordc1110¢ Ivltll Pll rt 4 of il)e Chai'ities (AccoLintS illld Replli'ts) Re¥il¢l1ioiis 211118. Oui. &iidil ivoi'k has been ulldei'lalcen so that ive Liiigbt stlc re to rhe cliill'lty's tnistees those inalters WC Ilrc i'eqiiEI'cd to statc lo th¢iii ill all i< iiditol. S F¢POrt alld foi. J]0 oth¢r piiii)ose. To Ilie fullest exleiit pennitted by law, Ive do iiot &lCCCPt oi. assiune I'espoi)sibility to anyolle oiber thali tbe chLl1'ily and ilic cliill'lty's triisiees as a body. fot our audit work, for ihis repoi'i, ot. for rbe opilliolls ive hove foiined. Ghc1foor hnd laTriillak (Senioi. SIKltiitory ALidiloi') For and 01) bchalf of Account¢lX (UK) Liillited, Si<1tutory Aiiditoi. Cli£lrtered Cei'tificd Accoiinlalil and Register¢d AIEditoi 22-25 Poi'hnan Close, M2( ryleboi)e Road. London, EIland, WIH 6BS DAle- 3110112024
Neii, Liin(loii E(liiilltiui)Jl Ti'ii.It StalemeiDI of fi iii¢iniilll Activities IEi¢,liidiiiL¥ IIiLiiine Aiid Ei Ypenilihii'e ALLI)illIt rioi- Tlie Yeai. Jideil 31 DLIL'nil)ei' 2U22 Uiii'e%ti-icteil RL'S11'iL*e(I Total Tot1 2022 2022 2022 2021 Iiiconic Iiiil eiiiloii'll]etil. fi'f)n).' 7&.()Ci2 23.1176 2,1111,505 2,Ul)11.1(17 23,876 Oilici. iiicojiie 1,82U,501 56,454 Total iiicoiiie 102.438 2,114,U43 1,676,9SS 93.685 2,ODI,¥25 2,01)5,510 2,157,09CI g,C)811 1211V,141) Net moi'enient irt fiin(Is ),Ciill (2811,141) 28(?,{%62 5&'7.003 PU1] biilaJ)Ll.% al 31 Dcieii)bLI- 21122 294,71f 32.S,31)4 3116,1462 The staleinelll of Cinan¢ial aclivilies iiicludes all gati)s asid losses r¢cognised li) the y¢ai'. All ii)¢oille and expend1h¢ derive froiii eolltiiiiiii)g c1Ctivilie5. The stalcmeni of fJnallCl<il activities also c0111plies willi the r¢qEiiieiiieiils foi, incoine aiid expcildittc occoiii)l under Ihc Conipanie5 Act 2011C). Tlic Jiotes oli pag¢s 13 10 23 foiin Pc111 of Ihcsc fiiiallcial $1a£emcnls. Ptsg¢ la
Neiv Loniloll £1 IlueHtion&l TrTisI Balllnee Slieet As At31 DtLember 2022 2022 2021 Notc FIXED ASSEI TS Tangible assets 115,552 41,975 115,552 41,975 CURIIEI NT ASSETS Debtors Cagh at bank aiid in l)and 253,420 246,644 257,206 77,915 500,064 335,121 Crcilitui's: Amoiints fi*illang Diie Witliin One Ycay (138,221) 170,234) NET CURREI NT ASSETS 361,843 264,887 TOTAL ASSEI TS LFSS CUIUIEI NT LIABII.ITifi,S 477,395 306,862 Crediturs: Amoiiiits FAlling Dve After Mol'e Tliaii One Year 13 (152.000) NET ASSETS 325,395 30C),862 INCOMC FUNDS Resti'icted FLinds 29,680 20,000 Uni'csti-icted fiii)ds 14 295,715 286,862 TOTAL fi UNDS 325,395 306,862 'riie cumpany 1% Cntiiled to the exeinption fiom tlie aiidit ieqiiii'einent coiitaii)ed ii) se¢lion 477 of the Coinpanies Act 2006. foi. tlie yeai. ended 31 Deceinbei. 2022, alil)ougli an aiidil lias beeii caii'ied OLIt uiidei. section 144 of Il)e Cliarities A¢1 2011. Tlie dilectoi's £tcknowledge thcir responsibilities foj, coinplying witli the I'eqiiiilinents of tlie Companies Act 2006 with i'espect to accotiiiling records and Ihc pi'eparalion of financial stalements. These financial slateinents wei'e appiDved by tlie Board of TJ'i151ces on by,. and weir signed on its behalf MI. BM Afotey Ti'iiqtee Company Irgisliation nuiiiber.. 069222966 The notes on pages 13 10 23 foi'in pait of tliese financial statcin¢nls. PaBE I I
NeTrs, Lnniloii Ei (liiciitiuiiiil Trii%t Stiiteni¢iit uf Ciisli floiv rioi. TIIL Yccl]- Ei Iided 31 DLcLiiII)Li' 21122 2022 2021 Notcs Cnyh Iluivy fi'om opei'iiting ilLtiviliLs: NeL cash geiieratecl I Iiised ii)) froJy] OPCi{?lioi)s 16 261,353 ?61,353 (54,3C)I I (54,3C) I I Cnsli Iloivs fi'oiii iiive5tiiig activities: Piii'c111¢ sc of11( ngible fixed ass¢ls (92,6241 (5,969} Net Cash ii.4ed iii investing Actiipitie.s (92,624) i et inei'egse l ((lecrexse) ill cayli iilld ca.sli equiv*leTIt 168,7?9 (60,330) Casb and cagh ¢qUiTrTal¢llls at bcginnÉnq ofyecir 77,915 138.245 Cu%h C<ish eqiiiv£)l£nt& lit enil i)lyexr 24Cp,CJ44 77.l)1S The notes oi) pages 13 10 23 foiin phi'l of tliese finuii¢ial stiilcniciTrls.
Neiv Lniiiloi) Ei (liie¢ltioiiiil Ti'ii.4t Note.8 lo tlie Fijliiniiiil St<ltemeiiL5 Foi. The Yi'411" iiiled 31 DLceiiibLI' 2022 I, ACCOUNTING POLICJES Chui'iti, infoi-mution Nell, Londo E(kication?c l Tnist is a privic te eoLllpfiny lii))ited by giicii"aut¢¢ incorpor<11cd iii Eiigl<iiid and Wale5. Th¢ registered oE6c¢ is Scepli¢ Holis¢. 75-81 SiainES Road, Houiislow, Lolldoll, TW3 3HW. ].]. B#sis i)f i)i'ei)¢lI'ig the fin#llci#l.stAlements Tb¢ fillclllClIl1 sLiteiii¢iils of the cliai'ity hilvc been prcpli red a¢oord<lllQ¢ Ivlth Ihc ch47rily's govciMinLJ dociimeiit, tlie Conipanies Aet 2006, FRS 102 'TI)e Fiiiancial RcporliJ]g stalldai.ds applicciblc in IhL UK anil Republi¢ of Irelaiid" ("FRS 102,1 aiid die Cliaiitics SORP"Accoiiiiling aiid Reponinrw by Cliarili¢s.' Sthi¢rti¢iit of Re¢oiTllnended Practicc aiiplicc1ble to chilritics l)ieplli'iiig Ihcii. c1CCOlllIIs iii Ilccordallce MTlth Ilic Fin21 IICl14 l Rcporliiig Stcllldiord I1piJlicablc i Ihc UK 4111d Republic of Ireland (FRS I D2} and the Clkniiiiies ACL 2011. Assets at)d littbililies are iiiilially recognised at hEstoric1i I cosl of111c nsiiction V£lliie iillless oili¢iivis¢ si4led ill tlie LElevallt accoili1tll poli¢y or llole. The fi]¢][ slJiein¢Lils ar¢ prcpcir¢d in sl¢rlittg. is tbe fiiiiclioi)al CLiirency ofihe chllrity. Moll¢taiy a]noiiiils ia Ui¢s¢ financial slalcment5 urc I'oundod lo Ihe i)eai'est.£. The cli¢irity Imeets Ilie definition of a piibli¢ benefit enliÉy undei. FRS 102. 1.2. GoinR eoncerll Ai Ilie liiiie of i& Ppl'oviikn the fiiiGineiul s(GileiTiellls, the li-lislccs l)ave a i'easoiiable expectiltioii Il)aL Il)e cl)arity lths ,Ideoii.Ite resoiirces lo contitiiie iii opei.Ilion1c l exist¢llce foL Ihc foi'csce41ble fiiliii'e. Thiis, the $te¢S ¢oi)littuc to ¢ldopl the tsoilly concei'n bisis of accoiinrill<y in pi'eparillo tlie fiiwii¢iul st¢ilenients. 1.3. Charituble tiiii(Is Unreslii¢l¢d fiiiids are availcible fot. uge at the disciEtio]] of the Ii'iislecs ill fiwtlieiniice of tlieir ebtirilftblc obj¢¢iiv¢s. R¢st2'icl¢d fvnds i1rc siibjwl to spccific condilions by donors S to lioiv they Jnay be iiscd. Tlie piirposcs at]d us¢s OF he i'eslrieled ft)d$ Al'e sei oiEt iii tlie notes to Ibe fii)•rJci411 sl¢lieii)ciits. Evei"y inollth the cl){ii'kLy ivill i"cceiii¢ t]1¢ fiuids ivliicli miisi be used to 81)eiiil on siipplyiiig ¢dii¢atioll. Ollce the charity lias et irs obligiL lions for tbe iiiontb, Illly Slwpliis in fuiids will be iL Iloouled to tb¢ iiiu¢slrictcd fiinds. A pi.0visi] is iiiclEEded iii ibe i'esli'icted fiind ilCCOUlll Eor ally polenlial fluid ¢Jii¢ellaliolls. Endoiviiiellr fIdS 1£ re subjeci lo specific eonililions by doiioi"s Il)•l the capital iuust be Iiiaintli 11)cd by tbe cl)arity. 1.4. Iiicome tllcome is recognised ivbell the ch<irity is legic Ily entitled to it nfter ttijy perFormw]cc ¢onditioi)s ve beerL ll)et, Ibe ,iJnountS Cc1n be Jneasui'ed reliably, and il is PLobcTrbl¢ that iiieoin¢ W11 be r¢¢eived. Cash dottntioi)s are I.ecolSed oil i'eceipt. Othei. doi)alions .?I'e reeosi)ised once the ch<ll'ity111l5 beeii nolified of the doll1 liott, iinless perfoi"JllAii£C collditlolls I'eqiiire d¢fcrr&l of Ilie ainoLinl Incoikie tax rccovei'£lble ill R'elatioll to doiialioi)s received iiiidei. Gift Aicl oi. deecls of coveiianl 15 rccoglliscd IE t th¢ tiiiie ofilie doii<ioll. Legftcies are recogiiiscd on receipt oi. oiherivise tf the chi¢ rity 11¢1S b¢eii iiolificd of 11 11 Tinpeiiding distribiiiion, the moulll is kilts7, und receipt is expccled. TFthe lliiioiits¢ is iiot known, Ili¢ Icgacy is IrLTlcd £1S ti cotslillgenl 11s5¢t. Page L_I
Neiv Loniloii E(IiiciitioRI)l Ti'iist
Notcfj to tIIL fiiiiJiiciiil Siiitenieiitl+
rioi. TIIL Yeiii- Ei iiilL¢I 31 August 2n22
I. ACCOUNTING POLICIES- CONTINUED
1.5. ii)eii(lilui-e
EApcndiliire is recogiiiscd oncc th¢r¢ is a Icgic l oi. couslnictllT¢ obligatioll to trll1isf.CcolIoMlc bejicfil lo a third party,
il is pr(Ibic bl¢ thcil i? Iraiisfer of ecollomte beiiefils will bc ieqiiired in settl¢menl. aiid the cl1]]ount of the obligT¢ilion can
be iiie<18ured i'eliably.
Expell(litte is classified by actiirity. Tli¢ cosls of eiicl) a¢lii'ity are niadc iiij of Ihe total of clii'ect cosrs and sharcd
051s, uicludii)g siippDI'l cosis iiivolved ii) Iindert<iku)g eaeli llcliirily. Diiecl eosls Qiii'ibiilable to Li siuglc 14 cliirity are
allocntcil directly lo tliji ¢lCtiiiily. Sli&1red costs ivbicli eonttibiitc to ii)ore Ihaii on¢ a¢livily aiid suppoi't eosls ivliicb
tLI'e iitit attributcTrble to a single acliifflty Eire <ipporlion¢d betiveejj those ttiN1t1¢S oil a b14 SIS co11Ste21t willi tlic iise of
Jcsoiiiccs. CeIitt'¢11 stoff ¢OSls (ire (illocated oll the b1 sis of tiin¢ spci)1, lid depre¢ia¢ion cliar2e5 Ilie lill0c1tcd oil the
portion ot the ttgset's iisc.
1.6. Voluiiteei's
IJ) accordic lice ivith tlie SORP, and iii i'¢¢0¥ill011 of Ilie d1ft11111ts in placing iiiollel
N¢ii. Lonilvii E(IIiLiltifjiilll Ti-11st Tule.s to tIiL Fi119¢ nciJl Statements ri 01- TIIL YLiii' Eiilleil 31 DL'eLnibLI' 2022 I. ACC015NTING POLICIEI S- CONTINUED 1.9. finiiiiciiil Insli-liments Fill71]e121 ftsscts Basi¢ fit2DJiCiiil asgets. iii¢liidiiig debtoi's aiid otlier receivables olld Cc1slI )lld bank bnlELiices, <lre inililltiy recogllised t trttiisaclioi) pi'iee, iii)Itsg tlie ai'iaiiftei)ieiit eoiislitutes tiiiftiiciiig trli$e{lO]I, Ivh¢re tlic Iraiisi¢li0ii Is i))casure(l ai the presellt valiie of Ilie fiiture irccipls (b'swiinled cit il Liiaik¢l 1.11 Ic ofijilei'esl. Siich ssets al'e &ibseqiiently caii'ied lll aiknoitised cost iisiiig the effective ii)terest iiieihod. Ai tlic ciid of cttcli rcrx)rting period finAllcial Ilssets D]elc sill'e(l ai amortised COSL llre <issegsed for objectivc cvidu)ee ol- iiiipnii'121EI)i. If <lll sset IS Illlpilil'ecl Ilic iinpaii'iiici)t lo¥ss is tlie differeiice beh41eeii Ilie &ii'ryiiig Ill)lOlllIt lid the pi'eseiil valiie of the estiniated C1( sh floivs discounted at the asset's origillal effective sntei'est rate. The ilnpainneiit loss is i'e¢otsiiis¢d in profit or loss. Ir theiE is deci'ec1se iii Ihe impairtlleiil Ioss riskiig fi'oin (ill event OCCLlI'i'ing afiei. Ilie impaii'inenl ivas reco¥iiiseil, the tIllPclirineAit is rcv¢i's¢d. Tlic r¢iT¢IE1c l is sucli t1)*t the cii]Telll cariyng uiiioiillt does llot exceed ivhÉl1 the cai'i'yirÉg aiJ)oiinl woiild have beell had the impairiiient not previously been recognised. The iinpic irmellt reversic l is recogtiised LD profit or loss. Fi1knlllCj¢11 asscts are d¢i'¢cogllisecl ivl)eii Ill) Ilje eonli'aettilll iigl)Is to tlie casb flows Irom tlie $St1 expire oi- &ire seltl¢d, or Ibl siibslantially ¢111 ilie iisks and reiyiirds of Ilie OiTTTrei'sliip of the assel ¢ve tt'4lnsfeiTed to iinotbei. pai'ly or {c) despiie l)&iviug irlaillcd SOLllc significalll risks lld rewards of ON¢1'5hllp, coiili'ol of Ib¢ a55el has b¢¢ii IL"aiisf¢ii'ed lo oiber p(Ii'ly ivho has Ihe PLaCtical ic bility lo iiTrilatei'ally sell tlie asset to ali iinrcliilcd tliird pai'ty ivithoiit iinposii)g ddiiional i'estriclions. Bi?sic fiiiiillci?E I lialjililie.8, iiicliidiiig ercdilors oihei- pllyllblc% Ai'c cltt8%ifscd debt, arc initifilly rceogiiiqed <Trt Iransclctioll price. iinless tl)e ai'rallgeiiieiit C01151ilutcs a Iinanciiig ITansaclion, iiilieTe Ilie debt instNilleiit is ]nellsiii'ed 1t tlie pi'csent valiic oftlie fiitur¢ r¢¢¢iplg discoiiiited at 4 lIrket rate of kllterest. Debt instniiii¢ntS iTrE¢ 5tibseqLiently CaEried 7¢ t 4llllOrtised cost, iisitig the effective illtei'est i'pte ineiliod. Fees paid on ilic cslablishiiicnl of loan Ea¢ilili¢s Di'¢ recogllisEd as trallsaGIioll costs of th¢ loaii lo Ilie cxlcnl Ihai il is probiible tlial soi))c oi. all of tl)e f¢lcility Trvill be diaiiFii dowm. tn this S¢. th¢ f¢¢ is defciicd iilltil Ilic draiv-down octhirs. To the extent thei'e is no evideiice Ilial il is probable Iliiil soiiie oi. all of Ilie facility IlTiII be drntvii doivn, Ilie te¢ is ¢opii•lised as a pre-pilyinent for liqiiidity seivices Iqiid aiiioitised over the period 0£ tbe cility to ivlll.cli ir r¢lil¢s, Ti'¢ide creditors I'e obligaliolls to pay IOT noods or scrvices Ilii& 11111 vc bceii acq&iiJ'cd iii tlic oi'clin411'y coiiise of bLisiness rroiii siipplieiE. Ti'4de crediiorg al'e classified as ciiri'ci)I liabiliiies if payiiiciil is diie iiijiliin one yeii. oi. less. IF i)ot, tII¢y <lre pre8eiJl¢d &s Iion-¢ui'reiii li4bilili¢s. Tr•d¢ pybEc$ ¥tr¢ re¢ogi)tscd inilially al tyansaclioii iJi'i¢e aiid siibscqiiently iii¢asiu'cd 4t ainoirtised cost usii)o ilie effective illterest iiietliod. Dci'ii'alives, iticlii(lill¥ jntete5l tite swaps cTrJid foi'wc11'd foieigii excl)c1J)ge coiili.iic15, cli-e not basic fiiiancial lllstlllliients. Dci'jiiaiives &r¢ iwtially i'eeognised lil valiie on the (L11e a dei'ivalive coi)Ii'acl is elltcrcd into lind are siibseqiienily re-iiicaswrd at Ih¢ir fail. V<iliie. Changes 111 ilie fiiif Vi11iie of dei'ivll lives <ire recogiiiscd in profil or loss in Yinaiice ¢osl8 or ftnasicc lIc0C as appiopi'iatc, ULdess Il)ey are iIicliided iii o hedging aiYAiigeJi)eni. Fin<lllCliil liiibililies ar¢ dc1"ocog1Sed wl)ett the liability is eKtinsiiished, thal is ivheii the contimetual obligation 1% discharged, cai)cell¢d or ¢xpii'¢s. Pa8e 15
NeTrv Lnn(loi] Ei (liiciitionill Tt'iist
Notes to ilie Fijilliicilll Stiilenieiit5
ri{11- The Yc'iii. Eiidc'il 31 DL*LiiibLI' 2022
I. ACCOUNTING POLICIES- CONTINUED
Tbe I'ity is ¢x¢nipt froiii tax on its chai'itable activities.
1.11. Eniployee% heiicfits
Tlie cost of aiiy u1)icd holiday ¢ntiilemeiil is i'ccognEs¢d iti tlie p¢i'iod ivbicli thc lIploYce,s services are received.
Tcriuini( tion brnefils are I'ecognised iiiiii)¢diaÉ¢ly as an exp¢ns¢ ivhen the cl)clrity is dcnionstrably coJ]uiiitt¢d to
t¢llnllll)te Ibe employincnl of <iii cinployee oi. to providc lermiii<ltioJ bellefits.
1.12, Retll'L'lllI'lIt l)cFiefit
Payiii¢llt5 to defiiiecl conliibiitioii i'elireiiiei)I beiiefil s¢liein¢s are eliiilged as exi)eiise S tlic), fall di1¢.
1.13. Ci'itkcal AccDiiiitiI)ki estin)ilte$ 8nil ft.¥.siinii)tiony
li) the <ippli¢8tion of the chai'ily's cTrc¢ounling policies, Ilie li'iislecs are reqiiired to lliake.judgeiiieiilS, c$iiiiiai¢s lid
assiiiiiplTOI)5 abDiit th¢ can'ying ainoiujt oEas8cts Ind liabilities that I1re llot I'eadily ai)parent froin oilici. soiiiccs. Thc
csliiii¢llcs ancl associaleil a8siiiuptiQnS 21 rc bascd oil hisloi'jc
Iyeiy Lniiiloji EdiiciitiDI):Il Ti-ii.sl lotei to tIIL f<iiiaiiciiil Stalemeiits Foi. Th¢ Yi'ai. Ei ndc(131 DL£enibLY 21122 2. CHARITABLE ACTIVITIES 2U22 21121 Tiiirioii Eiicoiiie T¢st Ceiitr¢ 2,QI1,505 78,662 2.090,167 1,7S2.135 38,366 1.820,501 AR]&li'sis l)1, fuii(I UiiirslTiCted fui)ds Res(Yicted fil)dS 78,()()? 2,011 .505 2,V)0,167 38.36(? 1,782,135 1,82U,%OI 3. OTHER INCOTrqE 2022 .2021 Oiliei. incoJ)ie Reiilcil incoine Job ReleIl0n Schem¢ sr41iils ),nG2 14.814 -S,UIH 17,361 23,876 4. CHARITABLE ACTIITITIES 2021 Staff costs Depi'ec11c tioii and ui)Pilil'iiienl L¢arJ]iiiL pi'ovidei. costs Rent Rates Liglil llnd heat R¢p&ir Eiiid Leneivals CleaTriiig Tizvel co$15 AecoiEJ)IcliiCy Fccs ESFA ¢lawb11 cks claini Bad debts 900.304 19,047 )24,-184 1,8(?,?89 23,882 13.421 11,726 7,368 1,429 4,103 175,311 2C),648 1,9l)3,()12 101 .$98 784.700 576,230 184,578 1(),626 10,727 35,516 4.075 1,327 10,553 441,117 ?,U78.%18 78,278 Sl)are of siippoil eos15 {see note 5) 2,09.5,510 2,157,1)96 Aiiiilysis by I'uiid Uiii'esti'ictcd fiinds Restricted fuDds )3,685 2,001,825 2,095,510 509 ?33 1,647.863 2,157,tl96 PagL 17
Neil, Ltjniloii Ediicxtioilal Triist Notes to tlic FÉiiciiieial Sliilemciits Flir TIIL Yviii. El JidLd 31 Dei'Liubei- 2022 %. SUPPORT COSTS 2022 2021 MaageMent cogls Fiiiaiice costs Govei'i)iiice costs 90,576 482 10,540 C)2,148 821 15,309 101,598 78,278 Govci'naiice costs in¢liide audiloiB' i'eiiiiillcration o1.£7,801112(P1.. £12,011)( } 6. THE CONTRIBUTION of4 VOLUNTEI ERS Tli¢ voliinleers ivoi'k (ir¢l¢ssly to chiLV¢ the goals of Ibe cliai'ity and Elicir Collts'ibiilion Ciinnot bc Aiiei4 5lll'¢d. 7. TRUSTEEI S, REMUNEI R4TIOiS' AND BENEFITS Noi)e of ilie liiislces (oi. any pcrson C¢i]nected wiib tbciii) received aiiy reniiincicltiou or b¢nefits li'oin tlie el)ai'ity diiring IlJ¢ yeai.. 8. EMPLOYEES Numliei. ol. enii)loirees Tile ii vei<isTe iiionilily Iiluuber ofeiiiployccs diiriiig the I. Wa5.. 2022 2U21 34 Employillellt cosls 2n22 2021 Wilges nnd Scllai'ie5 Social secLIEity cosis Otlici. peD5iOll cosls 817,994 67,725 715,024 57,0$5 12,621 900,304 784,700 i o eiiiployees i'e¢eiii¢cl ei))olLiinents iii exc¢ss of £60,OUO iii the yeai. ended 31 Deceillii' 2022 (2021.. 11. PIi¥7L 18
Nei), Londnll EdiL¢gtioiixl Trii.%t NOÉLS to tlie FiiiAI)cixl Stalemeiil.s Foy Tlic. Yell. Eii(lid 31 D'll1)e¥ 2Q22 9. TMiiEilile fi.¥eil asset LcAsLI)olil ITni)roi'en)eiit FixtlEiY Cfjiniiiitei- equii)mLlIt TotHI Cost As at O l Jlc LilrY 21122 Additions 71,200 3.882 47,978 20,582 19,178 92,624 68.160 As at 31 Dec¢i)Iber 202? )8, IC)0 7.8,OR2 68,560 211,802 DLlli'eLiiltii) As at 01 Jll 1)IlI7ry 21122 Cl)arge for the ye 48,042 5,296 ?9,161 5,129 77.203 19,047 8,fi22 As ilt 31 Decembei. 2022 8,C)22 53,338 34.2l)O 96,250 Net Book Value Ral 5 yrs. As at 31 DeCebe1 2022 21,744 34.270 115,55? As at I l Dcc¢nibcr 2021 23.158 18,817 41,975 10. Fixeil #ssets iiive.ltiueiits Othei. At O l Jlliiiiary 2022 & 31 Deceiiibei. 211?2 5,UOO Ai 01 Jic niiai"y 2022 & 31 Deceiiibei, ?0?2 {5,000) At 01 JLiJkUary 202? & 31 December 2022 Thei'e wet¢ no illvestiiieiil assels oiilsidc ofilie UK. Tlie ehlc i-lty's investillenl 41 ilie balallce slie¢l dot¢ iii Ibe s111[ I'e capital ofcomp1c Dies incliide Ilie folloiviDg'. Triiiliing liiiiovators Limite(I R¢¥T151¢E¢d oftice.. Sccplr¢ H0115¢, 75-81 Siaiiics Road. Hoiinslow. Lolldoii, Ui)iled Kiiigdoill. TW3 3HW Nic liirc of biisiness.. Dortnaiit Clllss of shni"¢." OYdinai"y /0 holdillg.. l Jll Tbe cl)Ic rity hi< 5 cliosett iit>l tQ COJJ501idal6 the Dccoiinls as Ilie subsidiary is doi'maiit &1lld il woiild i)ot Inulei'il4 Ily affecl Ilie ri11lIe10I st#l•llei)Is. Pcige 19
Neil. Liiii(Ittrii E(liiialiiiiicl1 Ti'ust Trlutey ti) IbL fi i1l42llLiiII StatenieiTrt.¥ Foi. Tlie Yeill. Eii(led 31 DeLL'nilTrei- 2022 11. DEBTORS N(Itc 2022 2021 Diie witliiii one veilj. Trilde debtoi's Prepayiii¢llls alld ¢1ccnicd ijiconie 208,178 6,242 214,420 185,774 28,682 2J4,4f 6 Diiv al'tei. illni'e tlIAn (Triie i'¢I1 Oilier dcbitsi's 39.000 42,75U 3(),OOQI 42,750 2S3.420 2%7,206 12. CREDITORS-AfvIOUYTS FALLIING DUE WITHIN ONE% YEAR 2022 2n21 Trade ereditoi's Otl)ei' taxes aiid so¢iol $e¢iirity Oihci" cr¢dilvtS AccrLliils i1nd deferred incc>mc )l),816 22,561 28,5CI2 ?1.312 19,182 .5,02C) 24,714 138,221 70,234 13. CREDITORS-AlI0UNTs FALLING DUE AFTER Trl IORE TIL4N ONE YEAR 2022 2021 Other ereditoi's 1.52,0(NJ 1$2,OUO Oihei. eredilors incliidc claivback cl¢liiUS by the EdLicaLiOII lind Skills Fiinding AgecY {ESFA} in relnlLQll to Pclst ppr¢nticcsliip Icariici's. ?0
- Rfi.-%l'RiCTET) FI['D5 ExpEllditw'o 2fj22 2U22 6S,S56 {?OD,4Sg1 ?u.oo
Notes Iii Illl FiiiaiiLiiil Stateiiients Foi. TIIL Yeiii. Eniled 31 Deeenil)ei' 2022 IS. ANALIISIS OF NET ASSETS BY FUND Un)'LstYiLtei] Fiiiid.s Re¥tricted TiitHI Fid balaiices at 31 Decei))bci" 21122 £1re Leiilesernled by.. T.11)&)ible <issets CiiiTClIt assets 15,55? 1811.163 29S,715 11.5 £52 29,6,411 29,680 325.395 16. CASH GENERATED FROMI OPERATIONS 2U22 21121 Siiiyliis l (deficit) foi. Ilie yEiir 18,533 (?80,141) iidjiistiiicnls foi.. DepreLlc21ion aiicl ii)Ipiiin)¢tst oftli nBible fixed ssets 19,n47 10,36<) loTr'eiiienl KvoYkin¥ c&pilal Dcci'ease iii drbiors lii¢t'e41Se / (d¢¢r¢asc) in ci'editois Cll¥li gellei'aleil l {IisL(l iii) fi'om operAtTOIIS .8,7RC) 211).)l 87 440.140 1224.729) (54,361) 261.353 PagE 22
Neiy Loiiiloii E(liiialiiiiiiil Ti-usl Niite.% to tlie Fiiini)Lldl StAteiiient Foi. The Yegr Enileil 31 DLcenil)ci' 2022 17. FiiithiiLjg1 IiTrsti'iiniLiits Tlie Chcll'ily Llie folloiving fiEianei1f l iiistniiiients.. Flnanciiil 8sSCts #t faTr value tlirougli i)t'olit or loss 21122 2021 Fin8JJciiII A55et% tbtht lire (lel)t instruiiienfs iiieLsiit'cil at cost Trade debtoi"s Othei. dcbioi's 208.178 39,UO 185,774 247,178 228,524 2022 21121 FiniinciiII li.'Ibilitie.s meusiii-efl At Trclde cr¢dilors Oih¢r i.Ixe5 lind so¢ial seciii'ity Otl)ei' ¢r¢dilors Accnials Imoi'ti5ed c05t 69,816 22.iCTrl 18U,5C?? 16,155 21,312 19,182 5,026 22,250 67,770 18. RELATED PARTY TRANSACTIONS The charily opcrilles al Scepti'e Hoiisc 75-81 Sitjines Ro£ld, Hoiiiisloiv, Lolldoii, Unile(l Kii)gdom. TW3 3HW. Tl)e property is oivtied by & (l]11Y iiieEiibeI' of th¢ DiiEcloi', SLlj<ll)i B£iddai)i. The cb41iLy incutTed E¢Jilal cosrs oC£I ¥O.11110 {20?1.. £184,578) diii'illg the year. PagL ?1