Cbarity registralton Rufflbei.: 1142105
Comp&ny regi.SiiationniLmber.' 06922966
NEW T.ONDON EDUCATIONAL TRUST
AI¥NUAL REPORT AND fINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DLCEIVIBER 2023

Insiile Iliis Report
Coiitent
Pages
R¢fr￿n￿ Administrative Details
Trustees, Report
Independent Auditor's Report
8-10
Statement of Financial Activities
Balance She¢t
12
Sialement of CasPA Flows
13
Notes to the Financial Statements
14-24

Neiv London EducAtional Ti'ust
Legal and Administrative lllformation
Referenee and administrative iofoymation
Charity Number
1142105
Con)pally Nuwbcy
06922966
Registered Office
S¢¢ptr¢ Hous¢
75-81 Siaines Road
Howislow, Londoll
TW3 3HW
Trustees
Thc trustees and directors serving during the year and since tbe year end were Is follows:
Mr. Emmanuel M¢nsab Afol¢y
Mr. VeDkal¢sham Neela
Ms. Sujaiii Reddy Baddam
Avditors
Accouiitax (UK) Ltd
21 Knighisbridg
Loll(ion
Enb.land
SWIX 7LY
Page I

New IA>ndoJi Educational Trust
Trustees, Rei)ort (Includiug Directors, Report)
For the Year Ended 31 December 2023
Th¢ trustees present thcir annual report and financial statements for the ycar ¢lld¢d 31 D¢¢ember 2023.
Tb¢ fiJLglloial statcmcnls hav¢ be¢n prepared in accordance with the accouuting polici¢s sel out in notc 2 to th¢ fthllllcial
slaletnenls and comply with Charity's governing do¢ument, th¢ Companies Act 2006 and 'Acco￿n{Ing and Reporlillg by
Charities.. Statetnenl of Rec￿T￿ll¢lldcd Piacli¢e appltcable to charities prepating their a¢¢oullls in accordance with the
Fillancial Reporting Standard applicablc ID th¢ UK ond Republic of Ireland (FRS 102) (effcctiv¢ l January 2019).
Principal ALtivitie8
NLET'S principal activities are to advancc the education OF Ibe public tbe United Kingdojn and els¢whei'e in pthicular,
bill not cxchisively. by tbe provision of educational programs. skil]s ts'aining and workshops, advice sjnd information on
educational. ¢mploy&bility and careers opportullities and by developillg, encouraging alld supporting learning partn￿'ShipS
between cdu¢atsonal orEallizations. biisinesses £￿d the voluntary sector.
Objective5 aJi(l Actisryties
Our Objective:
l. To advatt¢e th¢ ediTcation of the public ill the lJnited Kingdom and elsewheTe in parti￿lIar bli¢ not exclusively by
thcprovision of found8lionpro￿'ftMs and work4hops, advi¢¢ alld infornwlion on educational opporttuiities &v&ilable
in the United Kingdom and by d¢y¢lETrpitig, encouraging and supportittg leaiJTring parina'ships between educational
organizations. b￿sineSseS attd tlk¢ volutttnry sector.
2. To advance education and ItaitiÈng, by tbe provision and con(knct of all independent school or schools aud, in50far
as it 15 in¢idenlal or ai)cillary lo thc advanceinent of eduofttion of children in thc Unil¢d Kingdom and elscwhcre,
to ¢arry out such activities. including th¢ provision of appropriale FacAlitics for ¢ducation.
3. TO further such other ¢harilable purposes for the public bet)efit os ar¢ excliisiv¢ly ¢haritable according to the laws
of Eugland and Wales ag the trustees Inay from time lo timc d¢lermine.
Our Mission Statement:
To bc a progressive chaiity where everyone has the opporlwiity to gl'ow. achÈev¢ and improve their life chances tbrougb
education, tra￿Ing and emplo)rynent related support.
Ouy Values:
The values that we aspire to througb our work include=
Care and COM￿S$10￿at¢ support for all individuals.
Deliver quality services to all illdÉviduals who participaie in sfflvices at NLET.
Lislcn alld respond empatbetically lo our Irdnws.
Respeot foi. all-. valuing ¢uch person, their experience, opillion5 and choic¢s.
Oiir Principles-
The priucipl¢s w¢ iiphold in our WOTk include..
InclusiYeALess
welcomitig people from all backgrounds, treating t&cm fairly, recogni5ing and valuing tbeir
distinctiveness as individuals.
Empowerrnent- crcatillg anenyironmellt tbat enablespeople lo lak¢ Control of tbe&r learning. skills ¢mployment
goals, by listening to them and offering choicc wlL¢r¢veE po￿lble.
Equ81ity- in the delivery of educulion attd trnining to oiw leailler8 alld staff. re¢ogllising and valuing th¢ diversity
of tbe commuDities we serve.
Page 2

Nejv London Educ¥tioiial Trust
Tru5tee5' Report (Including Dircetors, Report) (continued)
FOJ. the Year fl ndcd 31 DeeembLr 2023
Public Bellefit:
W¢ hav¢ refened to the guidance in the Charity Co]nmissEon gcllcral guidance on public bcnefit when rcviewing our aims
aiid objecliv¢s and in planning our fvttii'e ￿tiVitIes. In particular, tbe n￿stee8 ¢onsider howplann¢d a¢tivilies willeonts'ibute
to the aims and objectives that they have set. The maÉn activity of th¢ ¢hw'Alablc Compally is the operation of tlke ttl￿t's
ediicalional, tt'aiiiing and¢]nploym¢nl related svpportservices. Thc puyposc isto proviik rich and r¢levantskillsledueAtional
developmelli f￿. participauts ill our ¢omn)utitts'es that enables them to be suocessfkd ill their next stage of Icarning or
employment. The tnistees have paid due reS￿'d to ￿lidance issued by th¢ Charity Con]missio]J in deciding what activilics
th¢ charily shoiddl￿dertllke.
Achievemellts and Perfoi'mltsce
During tbis perio(L NLET supported the educational and einployabilitylleeds of 600 ittdividiwls, with ]m￿￿sSIve 9020/
Success￿lEY achieving their learnittg goa18-exceedkng the national average.
In 2023, NLET suecessfidly dclivered the DWP Job Entry Targeted Siipport (JETS) programm¢, achieving ahigb job enlry
rdte of over 60 /0 among parti¢ipanls. Th¢ pr￿￿¢ supported West London residents who had faced unemployment due
to the ecoll¢imic impact of tb¢ COVID-19 paiidemic, helping them re-e]]ter the workforce.
Throu8hotii 2023, the Esf Lolldon Learning Projecl ¢olltinu¢d lo workforce skills in West IA)ndon, particularly in
the Health and So¢ial Cai¢, Hospitality, and Retail sectors-iudustrics signifi¢alltly affected by the econojnic challellges
following th¢ COVtD-19 pandemic. The projecÉ experienced an iucreas¢ in referrals, supporting over 80 employees from
I￿￿1 busine&s¢s.
NLET also su¢¢¢ssfully completed the NLET GLAtESF Healib alld Social Carc A￿a¢MY itt 2023. This initiative provided
participants with career guidan¢¢, CPD-aPPT()v¢d Irailling, and employability support. As a rc$uli, 93 /0 of participattts
a¢hi¢v¢d th¢ir learning goals, wiLh 3￿/0 sccuritig employm¢llt directly due to the project's interventions.
Additionally, in Seplember 2022, NLET succcssfully retaiti¢d its Matrix Standard accreditation following a full Ett8pe¢tion.
Th¢ 2023 Annual Continuous Improvem#lll Cbeck was also Completed success￿llY. The Matt'ix Standard, ownEd by th#
Dcpariment forEducation and delivered by the Growth Company. cnsutr¥ Ih¢provision of high-quality infonnatiou, advic¢.
and guidance services across various sc¢lors. Including ¢dueation, skills, employability, careers, health advice, and financial
guidan¢¢. Ac¢redited pi'ovidcrs iindcr80 a full in8PCCtion every three years, with anniial Colltilluoi￿ irnproven)¢ol r¢vi¢ws.
Financial Revie
During the financial y¢ar endcd 31 st Dcccmbcr 2023, tl)e charity had a ¢umov¢r of £1,186.839 (2022-. £2,114,043) and
Eelleraled a net sI￿pIlls of £5,03212022.. Nel sU￿1￿S of £18.533).
Fuuds have b¢en provided from au'oss all our projects and ivill ¢ontinu¢ w¢ll into 2023. In the most parl incoming fvnds
are restricted to ¢onlributc towardg the aSs￿lated costs of rUI￿l￿g our projccts. Reusonable aecolllltaney estimutes have
been iised lo calculate Ibe th'r¢¢t and indiirct costs which bave been in¢iirre(L
NLET does not have any borrowings, andTobust finanGiat, human i¢source and operational systcms a]Jd pro¢¢$ses ¢onlinue
lo b¢ ijnplemenled in order lo safeguard charity fmythees and knisiness. These systems havc ¢nsiurd IraDspar¢ncy,
a¢eoullt&bility, and sustainability of the Qharity.
It is Ihe policy of tbc charity tlwt unrestrieted fuids which have not been desigDated for a sp¢¢tfic purpos¢, should be
maintained at a level equival¢nl ¢0 betwe¢n three and six mollth's cxp¢ndittire. The Intslees Consider that r￿erVeS at this
l¢v¢l will ensure tbat in the ¢vcnl of a significant drop in funding, they will be able lo continue the charity's acliviti¢s whil¢
consideration is givell to ways in whi¢h addilional funds may be r&ised. This lev¢1 of reserves has been maintained
througlK)Ut the year.
Page 3

Neiv Londom EducationAI Trust
Trustees, Repoi't (Including DirectoY$' Rel￿rt) (contimued)
For the Ye#i- Eniled 31 DeLembeJ' 2023
Pl8#5 foi. Fulure
Dui'ing 2023, the implementalion of a di8ilal strategy has enabled transparency, accounlabllity al￿ efficiejy throughout
operational alld program delivery.
The trustees hav¢ colltinu¢d to provide strategic guidance to operational slaff lo strengthen the syste￿5 alld pro¢e8ges at
proj¢¢l and organisational level. ettlwicing our services provision. The trust¢es remain focused oll Continual
improvement to support Ibe cor¢ pwpos¢ of the NLET mission stalcmcnt. Thi$ fal]s into 6 key priority areas-
l. Quklity of Provision- Ell￿1r¢ the d¢sigu and development of provision mcets tb¢ needs of all participants.
2. Behaviour Attithde8- Ensure rates of attendance of all participants, csp¢¢iaily thow J)]ost disadvantage￿ are
typiclllly above 90/0.
3. Personal Development- Provision of wetfare and student seryi¢¢ support to impiove Ihc pcrsonai development
and wcllbcing of parti¢ipat]ts across NLET.
4. L£adersliip & Management Provide effective professional devclopment for all leaders through sbariog best
pi'actice and iitilisillg Cap￿lty from wh¢re leadership 15 Strong. parli¢uiarly al middle leadership level.
5. Gyoivth Sti'ategy - Fiwther skn'ellgthen NLET'S long-tern sustainability through growth ov¢r tbe next year alld
beyond.
6. Organisatioll21 Development - Effective monitoring of th¢ systems. structhrcs attd pro¢esses to ensure highly
effecliv¢ provisEon at all Icvels within NLET.
Ow ¢hall¢ng¢s over the Thext five ycws..
Chang¢s in gvY¢mmeni legislatioll a]]d economic policies.
CompliarACC al audit in$peetiong that refleci the quality of dclivcry, l￿derShip and operations.
Ecolloinic and Goveii)menl impacts on funding opporttmitics.
Staffillg with the kevel of skills. ¢xpcrien¢e and knowledge to ensure we meei and ex¢e¢d tlke r¢￿tired stalldards
alld p¢rfonnance indicator&
Strategy Direction
th¢ cojning year, NLET will focus on s¢r¢ngih¢nillg partllerships tILroiigh jointprogrammes, sha￿d resouTceg. and formal
agicclncllls with key instithlioJ]s. Digital In￿0vatIon will remain a priority, with expanded online learning platfomis and the
Colllinucd USE olmicrosoft Teams and plagiarism detection software to enhancc ¢ducalional delivery.
We are also planning to increase the cupacity of oiil exam centre. providing more opportunili¢s for sttidentS-PklTlicularly
tILose from iwdaTqjr￿nted backgiY>und&-to obtain esscntijl quah"fications siich as GCSE5, A-Levels, Éyhd vocational
certifications. Additionally, 2024 will see au cxpansion of university prcparatory exams, svpportillg dir¢et progressioll
pathways for learneES.
Structure, Governance and Mallagement
New London Edu¢alionat Trust is a charitable compally limited by guarantee, incorporated on 03rd Jun¢2009 and iegislered
as a charity on 231'd May 2011. The company was cstsbli$bed vndth. & Memorandum of Associaliou. which ¢slablisbed the
objects and powcrs of the chai'itable company alld is govErn¢d ithder its Articles of Association.
PaBe 4

NeTrv London EdueationAI Trust
Trustees, Report (Including Dii-ectors, Reiiort) (continued)
Foi. the Year li nde(131 December 2023
The huslccs, who are also the directors for the pwpos¢ of cots]pany law, and who serycd durirAg fbe year and up to the date
of signature of the financial statements were..
Mr. Emmanuel Mensah Afoley
Mr. Vcnkatesham Neela
Ms. Sujalli Reddy Baddam
QuAlifying Third Party llldemnity Provisions
Members, Li&bility:
Every member of the charllable compally undertakes to contribute lo the assets of the cotnpally iti th¢ ¢velll of it b¢iDg
wound up while belshe is a member, or within one pei'iod After helshc ceases lo b¢ a mcrnber. such amount as may bc
requÉred, not ¢x¢ecdii)g £10, for the debts and liabilitics contra¢l¢d b¢for¢ helsbe ceases ID b¢ a mcmbcr.
Trustees. In(lemJèitie5.'
NLET has puicbased insurance to ¢ov¢r trustees and officers fiDm claitjis arising from uegligent acts. errors or omissio]3s
o¢curtiug whilst on busincs8. Details of the costs ¢an kn fouud ill the accounts.
Trustee BDard..
The dii'ectors of the company are also charily tr[￿tee$ foi. the purposes of charity law and under tbe ¢ompally's Articles ar¢
known a5 ]neJnbers of the company. All trust¢¢ appoifjlnients are interviewed. assessed and approvcd by the Boai'd o(
Truste¢s. Appliralions for truskes are ettcouraEed from all s¢¢lionb of the community that refft¢l thc diversity and rat
of eotknmullity and busill¢s5 s￿￿UpS NLET works with.
Organisational Structllye".
Although the Board of Trusteeg is a key play¢r within the governallce and stral¢gy, and will therefore Inakekey dccisiolls
regarditEg the direciion olth¢ charity, tbe iinplementatiolkof th¢ sli'ategy is delegllt¢d lo the appi'opiiate ex¢¢ulivc Staff who
are bound by the policies and procedures that are approv¢d by the Board annually.
Tbe trustees and tbe SeniorL¢ad Team (SLY are responsiblc forpolicy andpro¢edures, the operatin8 budgcL DCW projects
nd making decisiolls aboul major capital ¢xp¢nditute and appointments.
The SLT are responsible for tb¢ auihorizalion of spending the agreed operating budget and Ibe appoittÉmcnt of all staff,
¢x¢¢pl 8taff appointmcnt to the Senior Lcadcrship Team. The appointh)cnt of roles kn th¢ lull¢r musl illclude trust¢e's
r¢pr¢s¢ntalion.
Risk Mallagement:
Tbe trustees bav¢ ov¢rall r¢sponsibility for en8uring tbal thc charity has in place ft number of systems alld ¢outt'ols that
safeguard the work and asscts of the charity. Thcy are responsible for ensuiing tlmt:
Th¢ charity is operating efficiently and ¢ffc¢tively.
It's assets are safeguard¢d against unauthorised use or dispositioll.
TtV8t¢es alld senior executive team arr a¢countable.
Proper r¢¢ords arc maintained.
FEnancial inforJJ)ation is a¢¢essible. reliable attd a¢cural¢.
The ¢harity complies with relevaut ]aw5 and regulations.
Th¢y idclltify and review the risks to which Ibe charily is exposed aud lo ensure approptiate Controls are in pla¢¢
Its provide reasonable assurallcc against fraud llnd erm..
PA8e 5

Neiv London Educational Tyust
Ti'ustee5' Report (Incliiding Dii'ectors, Rq)ort) (continued)
Foi. the Year Endeil 31 December 2023
The Executive TeamlSLT is responsible ond ae¢ountublc for the day-lo-day compliancc attd implcmenlation of tbe above.
The pi'ocess and systems used within the chaiity for interiial controls ol'e designed to provide regular, reasonable ￿La timely,
bvt llot ubsolllte tt5suranc¢ against nJisstatCD]eJJt OT loss. Th¢y call illclud¢'.
A strategic plan.
Finan¢ial and mwug¢m¢nl i'eporls.
Newslclter witllupdatcs on the work of NLET and any new ar¢as of work.
Noll-finallcial performa]J¢e illdicators, quality assurattce, achieveinent alld outcomes.
Delegation of authority and st￿SatiOn ofdulies.
Regul41 and ¢onsistent id¢nlifi¢&liun and inanag¢m¢nt of risk8.
Community and Businc5S:
NLET proaclively illarkets Itself by ¢slablisbing ¢onstru¢liv¢ links with lo¢al and rcgiollal group$ and ¢harilies. We have
establisbed partuersbip with the regional Chamber of Com]neice (West London Chamber of Collllnerce), which facilitates
joillt work ott bdJaIf of w¢st Loudon busincsscs and rcsidenls. addition, we work witli doi.ens of cmploy¢rs ill Ib¢ regiou
provEding in-work support to their cmployees. Thcse collaborativc partnerships and relationships are central to thc work of
NLET. We pride OU￿e1veS in working across all cominunily groups in the region which supports our charity objectivcs.
Stakebolder Re18tioDsbips'.
As an ¢ducationaE tharity provtdÉDg a broad rangc of S¢TViCC8, NLET has ]nany slak¢holders. Th¢s¢ includ¢.'
LearnerslParticipants.
Staff M¢n)bctS.
Businesses and Employers.
Local Allthorities.
Local CoAJvnunity Groups.
Commissioners including Goveiillnent otyiees.
Otber FE end Tiaining Pi'ovid¢rs.
Professional Bodies.
Subsidiary CompAni&g:
Training tnnov&loi's Limited (registered office.. Sc¢ptr¢ Hoiise. 75-81 Siaines RoELd, Hounslow. London TW3 3HW) is a
donknan¢ ¢ompany pur¢has¢d by the Trnst oll 31 July 2018. Its share$ are held by New London Educational Trust (NLED.
Pa8e 6

Neiv Lonilun Educ*tional Trust
Ti'uslees, Report (lllcluding Dii'ectovs, Report) (continued)
For the Year F.ndeil 31 DeLembci' 2023
Statement of trustees, i'esponsibilitie5
The trustees (who are also diitctors of New London Educational Ti'ust for the purpose5 of company law. al'e respon5iblc
for preparing the Trustees, Anuual Report and the fmattcial sthtcments in a¢¢ordaJkce with applicable law and United
Kiilgdom AceouDtinB Standards (United Kingdotn Gencrally Accepted Aceoullling Pi'actice).
Company law requires tbe ttusl¢¢s to prepare financial slalements for each financial year. Under ¢ompany law the tmstees
must nol approve the fman¢ial statements unleu they are satisfied that tbey give a trLle and fair view of th¢ slal¢ of affairs
of the charitable company uttd of the incoming resources and llppliefttion of resources, lllcluding Ihc income and
expendilurc, of th¢ charitablE rompany for that p¢riod. In preparing these financial slatcnjcllts. Ihc ￿]ste¢S al'e required to..
s¢leet suitable &ccounting polieies and then apply them consistently.
obserye the methods andprinciples in the Ch￿ttieS SORP 2019 (FRS 102).
make judgemellls and esliiiiates Ihal ate icu80nable attd prnd¢nL
stale whether applicttble UK Accounting Stand£lTds have been followed, subject to any malcrial d¢partur¢s disclos¢d
and ¢xpluin¢d ill th¢ financkal stalements. and
pr¢parc thc financial gtatcii)¢nts on the going coll¢¢rn basis uttless it 18 inapproprsale to presume tbal tbe charitable
compauy will conliuuc in opcralion.
The trustees are responsible foi. keepillg adeqiiale a¢¢ow)ting i'ecords that disclose with I'￿￿SOnable acciwacy at any timc the
financial position of the charitable Company and enable them lo ¢nsure that Ib¢ fman¢ial slalements comply witb the
Companic5 Aot 2006. Th¢y ai'¢ also responsible for safeguardin8 the asscts of Ihc chai'itttble company and hence for laking
reasonable step8 for the prevention and detection of fraiid and other irregularities.
In so far as thc trust¢es are aware:
Ih¢re is no r¢l¢vanl audit information of which the charilablc company's auth'tor is illwwai'e. and
tb¢ tni8tees l)avc tg￿til all steps that they ought to have takell to make themselves aware of any r¢l¢van¢ oudit
i]rfornMtion and lo ¢slabli5h that th¢ auditor is aware of that informotion.
Appmved by the Board of Ttuslees and signed on its behalf by..
Mi.. Emmanu¢l Mcusah Afoley
Trustee
Dal¢:
Pa8e 7

Nejv Lnn(lon Educational Ti'ust
Indei)eiident Auditoi s Report
Foy The Year Ended 31 Decetnber 2023
Indei)endent Auditor's Report to the Ti'uyteeii of NeTrY London Ediicatioual Trust
Opinion
W¢ have audited the financial statcmcnts of Ncw Lottdon Edu¢ational Trnsl (the 'Charily') for the year ended 31 December
2023 which coinprisc the statement of fmancial activitkes, the balanoe she¢t, the slal¢tnenl of cash flows alld the notes to
the fillatt¢i&l statements, including a siunmary of 8ignifj¢ant accounting poli¢ies. Th¢ linancial reporting framcwork that
has been applied ill tlieii. prcparation is applicable law and Ullited Kingdom AccounLillg Standards, including Financial
Reporting Standard 102. Ihc Financial RcportillE Standard applicable in the UK and Republio of Ireland {United Kingdom
Generally Accepted A￿oU1]lIng Pra¢lic¢).
In our opinion the finallcial statgments..
give a In￿ and fair view of Ibe slal¢ of Ib¢ Charitable Company's affaiLB as at 31 Dcccmber 2023 of its incoming
resources applÈcaLion of resoiirces, for the year then ended.
hav¢ been propcrly prepared in accordi￿ce with Untted Kingdotn Generally Accepted A￿OUntIng Practicc; and
have been prepa￿a accordance iviih th¢ r¢quit¢meLts of th¢ Compalli¢s Acl 2006.
Basis f()r QPilliDn
W¢ wnductrd (Trur #udil in accordanc¢ wilh Internalional Siaudards OD Auditing (UK) (ISAS {UK)l and npplioable law. Our
responsibiliti¢s under those standards ar¢ fi]rthei' described in the auditor responsibilities for tbe audit of the financial
slalcmcnlg section DF our report. We are independent of the charity in accordaiice with tb¢ ¢thi¢al r¢quirem¢nls Ih&t are
relevant to oiir audit of the f]llanctal 51alem¢nls in the UK, iti¢liiding th¢ FRC'S Ethical Standard, and wc hav¢ fulfillcd our
oibrr ¢thi¢d responsibilities in accordance wiLh thcse rcquir¢ments. W¢ believe that the aiidit evidence we have obtained
is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to goillg coneern
In audilAn&, th¢ fwancial slalemenls, we have concluded Ibat ilke trustees, use of the going concern basis of llecounting in
the prcparatson of the fittwkcial st&tements is ap￿.Opri&te.
Based on the work we have perForn)ed. we havc not identificd any matcrial un¢crtaintieg relating to ¢vent8 or conditions
that. itidividithlly or coll￿tiVely, may cast significant doubt on thc charity's ability to ¢onliniie as a going concern for
period of at least tw¢lv¢ mDllths from wh¢n the f￿anCial statements are authoriscd for issue.
Our respo￿S7b1I1ILeS and tbe respollsibilities of the trusl¢es with respect to going concern aTe desci'ibcd ill thc r¢l¢vallt
section8 of this ieport.
Other inforniatiDIi
The othcr infomation ¢ompi'i8es the infon)Jation includcd in the trustee's a￿)Ual repo¢ other thatt the financial statements
and oiir auditor's report thereon. The trLiStees are responsible for the other informatioll containcd within th¢ annual r¢port.
Our opinion on th¢ fjnuncial statements does not cov¢r the othcr i]rform&tion and, except to the eXt¢￿t otherwise explicidy
slated in ow rcport, we do not express any fonn of assuiallce conclusion tbereon.
ir responsibility is lo read the other information and. in doittg so. consider whether Ibe oiber infornlation is mat¢rially
incoJ$istellt witl) Éhe financial statements or our knowledg¢ obiaincd th¢ cour5G of tb¢ audit or othenvise appears lo be
materially misslalcd. If w¢ id¢nlify sLi¢h mat￿141 inconsistencics or apparcnt JJJal¢rial mis$t&t¢tttellts, w¢ nre reqiiii'ed to
detennine whether this gives ris¢ to a i]mterial misstatemellt in the finaDcial statements themselves. If, based on tjie work
we have perfornied, we coll¢lude thai there is a materiat n)isstalement of this other iThforllDatsoll. we arc required to report
tI￿t faet.
We bave nothin8 to rworl in this r¢gard.
Pa8e 8

New London Educational Ti'u5t
Independent Auditnr's Repfrrt
For The Year Elided 31 December 2023
Matters on which Ive are requiyed to i'epoi't by exceptio
W¢ hav¢ noihijjg to r¢port ill respect of the following matters in r¢lalion to which the CKirities (Accoullts and Reports)
Regulations 2008 require us to rcporl to you if, in our opinion..
the itiforniation given in tbe financial slatemeT]ts is inconsislent ill any tllalerial respect with the trustees, report. or
the eharity has not been kept adcquatc records- or
the fllwi¢i41 slal¢meiits are J]ot in agreement with the accounting records and r¢tums'. or
w¢ have not r¢ceived all the information and ¢xplanation8 We tequii'e for our au(bt.
Responsibilities of trustees
As explained more fully in the statement of trustees, responsibilities on pag¢ 7. the trustees are responsible for the
preparation of the financial stal¢mcnls and for being satisfied that they give 2 tnLe and fair vicw, and for sueh internal
colltrol as the trustees deteiininc is nec¢s$ary to ¢nablc the prepai'ation of finan¢ial slal¢D]¢llts that are free from ￿aterial
misslatetnent, wh¢thcr due lo fraud or error.
Ill piepartng the f]nhnci&l statements. the trnst¢cs ar¢ i'espoJ]5ible for assessing the charity's ability to ¢ontillue as a going
oncern, disclosillg, as applicable, matters i"elated to going conccrn and using the going conwn basis of aGcoulltiug unlc5S
tkne ttustees either iDtcnd to liquidale the charity or to ¢cas¢ opcl'alions, or bave no realÉstic altenhativc but to do so.
Auditor's I'esponsibilities for the audit of tbc ￿n￿nCial statements
We hav¢ been appoilllcd auditor ullder s¢ction 144 of th¢ Charities Act 201 l and i'eport in accordance with re8ulalions
made iiDder section 154 of Ihal a¢t.
Our objectives w'e to obthin r¢asouabl¢ assurance about wheiber the financial statem¢ttl$ as a wholc arc fr¢e froin material
misstatement, whether diie to fi'aud oi. eÉror. and to issuc an auditor's i'eport that includes our opinion. Rcstsnnablc o$suiance
is a high level of assiivance, but 18 nat u guarantcc that an audit conducted &n ac¢ordan¢E with ISAS {UK) will always detect
a Inaterial misstatement wh¢ll it exists. Mi5Stateinents call arise from fraud or error alld are ¢onsidercd matcrial if,
individiially or in the aggregalc. tb¢y could reasonably be expe¢l¢d lo Influ￿¢¢ thc economic decisioDs of users on
the basis of these financial statements.
Irregularitieg, including fraud, are instances of non-complEancc with laws and re8ulalions. We dcsign proccduTes in lille
with our r¢5pon5ibilitsc5, Outlincd above. to detect matertal misstatements in re$p¢¢l of in"¢gulatitics, illclu¢thJ)8 fiaud. The
¢xt¢nt lo which our procedures are capable of dele¢ling i[￿SU1a[itiQS, including fraud, is as follows:
our audit incliid¢d ass¢ssillg the ¢ntity's compliance with applicable laws and i.e￿Il2t10tt&,
evaliiating the risk of material rnisstatement diie to fraud. l￿d perfonDing pi'ocedures designed io respond to those
risks,
inquirics with management and those chargcd with governance, testing .joun]al ¢4ktri¢s, revicwing significant
accoullting estimates for pol¢nlial bias, and examining transactions and disclosures for ally indications of
ii'reguiarities.
A further d¢su'iplion of our rcspousibilities for the audit 0£ the f￿anCial statements is located on the Finattcial Reporting
Collncil's website at: http.'Ilivww.fr¢.org.uWauditotsrespoi)sibililies. This des¢riplioll forms part of OUT auditor's report.
Pag¢ 9

New Lon(loll Ei ducatiDliI)l Trust
Independent Aiiditnr's Report
For The Year Elided 31 Deeembei. 2023
Use of our rei)ort
This rcport is rnade solely to the charity's trustees, as a body, In accordan¢¢ wit]1 Pai'l 4 of the Charities (Accounts and
Reporls) Regulations 2008. Our audilwork has be¢tti1ndert￿ell so that we D)iBhÉ $lat¢ to the charlty's tnjslees those mallcrs
w¢ ar¢ required lo sÉat¢ to thcjn in all lluditor's repoit and foi. no other putposc. To th¢ fullest extent pennitt¢d by law, we
do not accepl or assume responsibility to ai)yoll¢ oth¢r thall the ¢kniity and th¢ charity's trustees as o body, for our aiidit
Ivork, for this repoil, or for the opinions we have foiin¢d.
Ghafoor Ahmi)d Kbattak (Seiiior Statutory Aiiditor)
For on behalf of Aecountax (UK) Ltd. StRtutory Auditor
CharLered Certified Accountant and Rcgist¢red Auditors
21 Klliglitsbridg¢
London
Fmglalld
SWIX 7LY
Dale-
P&g¢ 10

Neiv London Educational Trust
Statement of Financi41 ALtiYities
Iiicluding Ittcome and Expeiidithre Account
For The Yeai. Ellded 31 December 2023
Uni'estricted
Fiinils
2023
Restricted
Fulli15
2023
Total
Total
2023
2022
Notes
Inco￿¢ aii(l endoiymenls from,.
Cliarilabl¢ activiti¢8
Oth¢r iti¢om¢
204,539
15,709
966,591
1,171,130
15,709
2,090,167
23,876
Total income
220,248
966,S91
1,186,839
2,114,043
eii(litut'e'
Chslrilable aetivili¢s
87,268
1,094,539
1,181,807
2.095,510
Net income for the yexr
Ti?nsfer behyeen funils
132,980
(98,268)
(127.948)
98,268
5.032
Net moveinent in fund5
34,712
{29,680)
18,533
Fund balancLS Ilt l J¥nu¥iT 2023
295,715
29,680
325,395
306,862
Fund balallces at 31 December 2023
330,427
330,427
325,395
Thts stat¢ment of fjnallcial a¢liviti¢s in¢liid¢s all gaitis alld losses re¢ogtii$ed in the year.
All income and expelld]￿re derive from continuing activtties.
The statemenl of financial ￿ctIVIti￿ also eomplies with the reqiiiremellts for an income and expenditure account under tIL¢
Compatiies Act 2006.
The notes on pag¢s 14 10 24 fomi pai'l of th￿¢ fllhaocial slatcmculs.
PoBell

Nesv London Educational Tk'ust
Balonce Sbeet
As #t 31 DeLember 2U23
2023
2022
Notes
FIXED ASSETS
Tangible assets
io
102,183
102,183
115,552
Ilf,SS2
CURRENT ASSETS
Dcbiors
Cash al bank and in band
12
362,173
49,000
253,420
246,644
411,173
500,064
Creditors: Amolllits Falling Due Within One
Year
13
(80,929)
(138,221)
NET CURRENT ASSETS
330344
361,843
TOTAL ASSETS LESS CURRENT
LIABILrriES
432,427
477,395
Creditors: Amounts Falling Due Aftsr Moi
Than One Year
14
(102,000)
(152,000)
NET ASSETS
330,427
325J95
llYCOME FUNDS
Restrieted funds
Is
29,680
295,715
Unrestrieted thnds
330,427
TOTAL FUNDS
JJQ,427
325J9
The company is enliiled lo the cxeinplion from the audit i'equire]nellt colltained in section 477 of the Companies Act 2006,
for Ihc ycar ¢nded 31 D¢¢ember 2023, alihoiigb an audit has becll ¢atried out under scctioll 144 of Ihc Charities Act 2011.
The direcloTS aclfflowledge their responsibilities for complying with the requuEments of the Compallies Act 2006 witlL
respect to accoullting records and the preparation of finalkcial slalemenls.
These financial statements were approved by the Board of Trustees on 31
by;
2 C and were signed on its behaIf
Mr. EmmaJLu¢I Mensah Afot¢y
TTUStee
Company registration nu]nber'. 06922966
Thc notes on pages 14 to 24 foirn part of these financial statements.
Pag¢ 12

Neiv London Educalional Trust
Statement of Cash Flows
For The Ye41. Endeil 31 December 2023
2023
2022
Notes
Cash l]oiv5 froin opcrating activities..
Net cash (iised ill) / generated from operations
16
(183,891)
(183,891)
261,353
261,353
Cash floivs from investing nctivities:
Purchase of tangible fjxed assets
(13,753)
(92,624)
1¥4ct casb used ill investin2 4etivities
(13,753)
(92.624)
Net (decrease) l increase in cash #Jid cash equivaleiits
(197,644)
168,729
Cash alld cash equivalents at beginning of year
246.644
77,915
Cash and cash equivalents Mt eDd of yef¢r
17
49,000
246,644
The notes on pages 14 to 24 form part of these flljancial statements.
Page 13

Neiv London EduLation#l Triist
Ntstes to the Fin&iicig1 St4temellts
ri oi. Tlie Yexr Ended 31 Decembey 2023
l. Charity infoirynation
New London Educatiollal Tivst Is a private compttny littiiled by guaruntee incorporated iii Eiigland und Wal¢s. Th¢
Tcgistered office is S¢¢pti'e HoEise, 7541 Siaines Road, How)8low, Londoll, TW3 3HW.
2. Afcoullting polici
2.1. B2$is of ijr¢i)aring the financial ststements
The finanrial slalcm¢iils of the chai'ity have beei? prep&red in accordancc witb the charity's governing document, tbe
Cotnpattics Act 2006, FRS 102 'Yb¢ Financial Reportillg Stalldai'ds applic1( ble ill th¢ UK w]d Rcpiiblic of Ireland"
("FRS 102") and the Charities SORP"Accounting R¢poElillg by Charities.. Ststcment of Reeomincllded Practice
Eapplic&ble to cbarilies pr¢paring their accoiints in aceordanee with th¢ Fi]wcial Reporting Standard appli¢abl¢ i
th¢ UK and Rcpublic of Jrcland (FRS 102) and th¢ Charities Act 2011.
Assets and liiibiliti¢s ar¢ illtlially recognised at historic￿ eosl of trallsaction valuc unless otherwis¢ slated in the
relevant accoiinting policy or not¢.
The finattcial stat¢nrnts arc picpared in sterling, which is the fi￿e￿OI)￿l ¢utrcncy of the charity. Mon¢lary arno￿nIs
in these fumncial statemcnts al'e rounded to thc nearest £.
The charity mccls the de(￿ltiOn of g public benefit eutity u[1d￿ FRS 102.
2.2. Going coDc£i'n
At the time of approving th¢ fmallciat statements, the trnste￿ h&ve a reasanable expectation thai the charity h3S
adcqLiale resources lo continue in opci'ational cxistcncc for the foirseeable fiittw¢. Thu5, the Inistees continue lo adopt
the going concern basis of arcounlillg in preparing the financial statement$.
2.3. Chai'itable funds
Unreslrictsd fimds are available for usc at the discretion of th¢ Irust¢cs in furtherance of their charitable objeotives.
Reslrlcted fiinds are SLibj¢¢t to spccifLC condilions by donur$ 48 Iv how they may be used. The purposes and use$ of
th¢ r¢slTicl¢d funds al'e Set oiit in the llo￿8 to the fAnan¢ial stalcmcnts.
Everymonih the charity will i'eceive tbe funds which mu51 bc used lo spend onsiipplying education. Once the charity
has n)et its obligations for the tnonih, any suiplus ill funds will be alluralcd lo the unrestricted fiinds.
A provision is included in tb¢ r¢slri¢led fiind account for any pol¢nlial fund cancellations.
Endowmelll funds arr subject lo specific conditions by donors thai the ¢apilal must be maintained by th¢ ¢haiity.
2.4. Incomc
In¢om¢ is r¢co8nis¢d wbell tbe cbarity is legally entitled to it aft¢r any pcrfonnance conditions have been meÈ, the
amounts can be Measl￿ed rcliably, and it Is probable that Incon￿ will be received.
Cash donations are recogllised on receipt. Other donations are rccognised once the charity has been notifi¢d of the
donatio￿ unless perfoii*an¢c conditions require deferrol of lh¢ amoiwt IncoD]e tax recoverable in r¢lalion to
donations received under Gift Aid oi. deeds of cov¢nan¢ is rccognised at the time of the donation.
Legacics arc r¢cognised on i'eceipt or oth¢nvis¢ if Ili¢ charity has been notified of an imp¢nding dtstribution. th¢
aznounl is known, and receipt is expected. If the &mowit is not known. the legacy ts Ir¢al¢d as a ¢otJling¢nl assel.
P&g¢14

Nejy IA)ndon EduLuti()n#l Tiwst
Notes to the Financilll StAtemeiits
Foi. The Yeai. En(led 31 August 21123
2.5. Expenditure
Exp¢nditur¢ is recognised Ollcethere is a Icgal or cottsltuctive obligatioll to trangfereconomic benefit to a IILiTd paLty.
it is probable that a trallsfer of economic b¢ll¢r￿lS will b¢ required in settleinelll, and thc amowt of the obligation call
b¢ measured r¢liably.
ExpeiiditUTe is classifi¢d by activity. The costs of each activity are made up of the total of dirccl Costs and shared
costs, includillg support costs involved in undertaking cach aclivity. Dir￿1 Costs attributable lo a singlc activity are
allocated directly to that activity. Sliared Costs whicli ¢onÉtibul¢ to than one &ctivity and support costs which
are nol aitributablc to a singls activity arc appoitioned betweell those aetivities on a basis consisleiit with Ihc use of
resoiirces. Centrlll staff eosls &n'e allocated on the basis of tiinc spclll, and d¢pr¢¢iation charges are allocalcd on th¢
portion oEth¢ asset's iise.
2.6. Voluiiteers
In aecordance with the SORP, and in r¢cogDÉtion of the difficulties in placing a monctary value oll tb¢ contribution
fi'om Voll￿teers. tbe contribiilion ofvolunteeiE is not included within the income of the charity.
How¢Y¢r, th¢ tluslees value the significant colllribution mad¢ to the activities of the charity by unpaid voliu]Iccrs
and this is dcscribed ttior¢ fully tn note 7.
2.7. Ta])gTble fixed osset5
Tangible fixed assets are inittally measured at¢ogtand subsequently measured atcostorvaluation, uel of d¢pr¢¢iation
and %￿Y impairment losses.
DepreciatiorL is F¢cogllis¢d so as to wiit¢ off the cost or valuation or assets less Iheirt¢sidual values over theiruseful
lives on the tollowing bases..
Fixtures & Fittittgs
ComputcrEqiiipm¢nt
Leasehold improvements
200/0 rediicing balancc basis
20/0 reducing balallce basis
5 years
2.8. Impairment of fiIed a$5ets
At each reporting clld dal¢, the charity reviews thc carying amouttts of itg langtble agsets to detennine whether theiE
is any indicatioll that those assets b&v¢ suff¢r¢d an impainnent loss. If ally such illdicalion Exi51s, tb¢ r¢¢ov¢rable
amounl of thc assct is cstimated in nrd¢r to deiermine the extent of the impairtJ]cot loss (if ally).
2.9. Cash and cash equiyalents
Cash attd cash equivblents incliide cash 5n hand, dcposs14 held at ¢all with btLllks, othei. short-term liquid investmcnts
wilh original mathrities of three months or less. alld ballk OV￿arafts. Bank ovci'th'afts are shown wiihin bon'owings
in current liubilities.
Page IS

New Loi)don Educational Ti'ust
Notes to tlie Finullcial Statcmcnls
For Tlle Year Ended 31 Dcccmbey 2023
2.10. Financial Instrllmenls
. Financial assets
Basic finan¢ial u$sels, incliiding debtors and oihcr r¢cBivables and cash aDd bunk balances, are initially rccog]Lised
at trai)saction pi'ice, iittless Ihc art¥￿￿￿¢ment constittites a ftnallcing trallsaction, where th¢ traDsa¢lion is measurcd al
the present value of thc future r¢ceipts discoullted at a mark¢1 rale of illteresl.
Such assets are subsequently catri¢d at a￿OrtiSed cosl usillg thc effective interest method.
Ai the elld of cach reporting peri(xl financial assets mellsiired at amortis¢d cost ar¢ assessed for objective evidence
of ijnpairmenl. If au asset is impaii'ed tbe impaii'inellt loss is tb¢ difference betwe¢n the carrying ￿mOunt alld th¢
presenl value of Ihc ¢stim21cd cash flows discounted at the asset's original effective int¢r¢sl rate. The impaim)cnl
loss is i'ecognised in profit OT Ioss.
If there is (k¢r¢as¢ in Ille impairnienl loss arising from an evenl (Kcurring aft¢r th¢ imp&irn]cnt was Yecogtiise(I Ibe
iinpairniellt 1$ reversed. The revei'sal t8 sii¢b tbat the curiEnt cairying amovnt does not exceed what th¢ ¢airying
amount woiild have been had the impaitment not preNiously been recognised. Th¢ impairm¢nt reversal is r¢coBlli8ed
in profit oi. loss.
Financial assets are der¢cognised when (a) the Colltractual lights to tb¢ cash floivs from the asset expire orare settled,
or (b) sub$lantially Ldl the Tisks alld rcwards of Ihe 0￿￿e[ship of th¢ as.8et aye tronsferred to another paity or (o)
despit¢ having r¢lained some sigllificalll risks and rewards of OWllCFship. Control of Ibe assct has bccn irÉ￿Sferred to
anothcr paty who has the practical ability lo unlial¢￿IlY sell Lhe ass¢t to Illl unrelated tbird paity without iD]posffing
additional restrietions.
li. Fitianetal liabilities
Basic finan¢ial liabilities, incliiditig cr¢dilors and other payables aff ¢lassified as debt, are illitially r¢¢ognised at
'aL48ction priee, unless the arrallgemenl constitutes u f￿a1]CIng tiansJction, where the dcbi instnunent is measured
at the piEs¢nt value of the fiiture receipts dis¢oiinled at a Jnarket rate of inl¢r¢sf.
Debt instsument8 are subsequently carricd at wnoitised cost, using the effcctivc inl¢r¢%l rate metbod.
Fees paid on the establisbment of loan facilities ar¢ recognised as transaction Costs of the loan lo the extent that it is
probllble that som¢ or all of the Facility will bc drawn down. tn this case, th¢ f¢¢ is deferred until Ibe diaw-dowtt
occurs. To the extent there is no evidence that it is probable diat some or Jll ofih¢ facility will be drawn down, Ibe
fe¢ 1$ ¢8pilalised as a prc-paymenl lor liquidity 5eiwice8 and omortised over thc period of th¢ facility to which it
rcl81¢s.
Tradc crcditorg air obligations lo pay for goods or services that have been acquir¢d in the ordillary ¢ours¢ of business
from suppliers. Trade creditors arc clagsified 88 current liabililic5 rfpayinellt is due within one y¢ar or less. If not,
they are prc5cnt¢d as non-currenl liabililiE8. Trnil¢ payables ar¢ re￿8￿]Sed tnitially at trallsactioll price and
SUbSe(￿entlY measured at amortis¢d cost using tbe effeotive Interest mcihod.
Derivalivcs, itt¢luding interest rate swaps and fonyard foreign excballge ¢Ollh.￿ts, ore notbasic f￿anCiaL ills¢rnments.
D¢rivatives are initially recognised llt farr value on Ili¢ dak a deriyativc ctsntract is entered into and are subsequclltly
re-lneasured at their fair value. Cbangcs in the fatr valiie of deyivativcs arc iE¢obmised in profit Or loss in finance
costs or fillane¢ income as appropi'iatc, unless Ih¢y are included in a hedging anllngerllent.
Finoneial liabilities ar¢ duE¢ognised when thc liability is exlknguished. that is when the eontTactual obliEation is
dis¢barged. caucclled or expires.
Page 16

Neiy Lond(bn EdUc￿tio)lat Trust
Note5 to the FinaDcial Statements
For The Year Ended 31 December 2023
2.11. TaxAtioll
The charity is exempt from tax on its charilable activities.
2.12. Emi)loy¢e5 benefits
The cost of any llnused holidllyentitlement ig ttcognia&4 in tb¢ period in wht¢b the employee's gervtces are receiv¢(L
Tcrmination bcDcfits are i'ccogniscd imlnediatcly as an expense when the charity is demonstrably con)mitted to
l¢iminale the employment of an employee or lo provid¢ tenninatiott ixllefits.
2.13. Retirement bettefits
Payments to defined eon¢ribiilion r¢tir¢m¢nl benefit s¢b¢m¢s ar¢ cliarg¢d as att ¢xp¢nse as Ib¢y fall due.
2.14. Critical ￿¢coUnting estima¢cs and assumptions
En tbe applicalion of the cl)urily's aceoiinting policies, the trustees 8r¢ required to make judgements, estitnnles and
assumptiolls about the carryEng amount of assets and liabilities that are not ￿adIlY apparent from other sources. The
¢stimates and associal¢d assumptions air bas¢d on histDrical ¢XP¢Eicncc aThd oih¢r faclors that arc consid¢rcd lo b
relevant. Actual r&siilts may dirrer from these estimates.
Tlie estimates and iiwlerlying essiitnplions are revi¢wed on all ongoing basis. R¢visions lo a¢counting estitnatcs are
rc¢ognised in the p¢ri(Ml in whi¢l) thc ¢%timatc 1$ i'cvi%cd ivlicrc thc rcvisiott affects only tl)at period, or in tbe period
of Ibe revision alld futLU'e periods where the revision affects both CU￿llt and flltw'e perio(Ls.
2.1$. Pi'ovision
Provisiolls are recognised when tbe charity bas aD obligation at the balance sheet date as a Lesult of a pasl event, it is
probable that anoutfioiv of economio benefits wkll be required in Settlonentand the amoillltean be reliably esLiinated.
Page 17

Neiy ￿n(loll EdueAtional Trust
Note5 to the Financimi Statements
For The Year EIide(131 DeeLmber 2023
3. Clharilable actiJqties- income
2023
2022
Tuition income
Test centre
1,069,037
102.093
2,011,505
78.662
1,171,130
2,090,167
Analysis by fund
UllrcStr￿Cted fuiids
R¢5tri¢led fiinds
204,539
966.591
1,171,130
78,662
2,011.505
2,090.167
4, Othej. income
2023
2022
Otber in¢ome
Rentd inconle
1,543
14,166
9,062
14,814
15,709
23,876
S, Charitable activities- expenditure
2023
2022
Staff ¢osls
Depre¢i8tion
Lcarnittg provid¢r Costs
Rellt
Rates
Light and heat
Repaii. and rcnewals
CleRning
Travcl costs
AccounLilley fees
ESFA clawbacks claim
Loss on fixed assets disposal
714,615
26,230
242,376
90,000
21,508
14,798
7,764
7.316
1,713
4,067
900,304
19,047
624,384
186,289
23,882
13,421
11,726
7,368
1,429
4,103
175,311
891
1,131,278
1,993,912
Share of 8upporl costs (see note 6)
50,529
1,181,807
101,598
2,095,110
Analysis by fund
Unr¢stricled Fluids
Reslrieted funds
87,268
1094 539
93,685
2,001,825
2,09S.510
1,181,807
Pa8e 18

New Lon(Jon Educatio])al Trust
Not¢5 to the FinaAici%l Ststements
Foi. Tli¥ Yekr Ended 31 Decejnbcr 2023
6. Sui)poi't costs
2023
2022
Manageincnl co$ts
Finance costs
Governance costs
39,514
588
10,427
90.576
482
10,540
101,598
Governance costs lllclude auditors, Irinun¢ration of £7,800 {2O22.. £7,800)
7. The conti'iblltio]] of volunteers
The volUnte￿S work tii'elessly to achieve the goals of the charity and theii. CODtribuliot] cannot be measured.
8. Trustees, i'emllneration Rnd benefits
None ofihc trnstees (or any person connected with th¢m) r¢¢¢iv¢d any remulleralioD or benefits fi'om th¢ charity during
the yeai..
9. Employees
Nllmber of employees
The averagc nionthly niimber of enlployees during the year was..
2023
2022
26
37
Employnkent costs
2023
2022
Wag¢$ and salaries
Social S¢￿￿lty costs
Other pcnsion Costs
648,860
53,451
817,994
67,725
714,615
900,304
No employees received emolumwls in ¢x¢¢ss of£60,000 in the year eJded 31 December 2023 (2022.. Nit).
Page 19

Neiv London Educ#tioiial Tvust
Notes to the FiDRllciAI StAtements
Foi. The Year Ended 31 December 2023
10. Tangible fixed ￿￿etS
I￿&schol{l
impl￿VementS
Fixtvi'¢
fittings
Computei.
eqiiipmciit
Total
Cosl
As at 01 Jalluary 2023
Additions
Disposals
68,160
6,226
75,082
295
68,560
7,232
(1,638)
211,802
13,753
(1,638)
As at 31 D￿¢)￿b¢r 2023
74,386
75J77
74,154
223,917
Depreciation
Ab ut 01 2023
Cliarge for the year
Disposals
8,622
14,379
53,338
4,369
34,290
7,482
(74C))
96,250
26,230
(746)
As at 31 December 2023
23.001
57,707
41,026
121,734
Net Book Value
Rate
20.00/
As at 31 December 2023
51,385
17,670
33.128
102,183
As at 31 D¢¢¢mb¢r 2022
59,538
21,744
34,270
115,552
11. Fi.Yfd assets iiivestments
Other
investments
Cost oi. valuation
At 01 January 2023 & 31 December 2023
5,000
Imi)#irment
At 01 Janiiary 2023 & 31 December 2023
(5,000)
Caiyying amount
Ai 01 January 2023 & 31 December 2023
There were JK> investment assets outside of the UK.
The ¢harity's inv¢stm¢llt at Ihe balatt¢¢ she¢t dat¢ in th¢ sharc capital of compani¢s include the following..
Training InllovAtors Limited
Registered office.. Scepts'e Hoiise, 75-81 Stailles Road, HOU￿loW, tK>ndon, Unil¢d Kingdotn, TW3 3HW
Nature of business.. Dormwit
Class of sbare.. Ordinary
/0 holding-. 100
Th¢ Ghwity has uol to ￿￿5011datC lh¢ a¢wuuls as th¢ subsidiary is (brJnaTJI and it would not materially affect the
financial $tal¢m¢nls.
Pa8e 20

Neiv Londou li ducatioiial TYu5t
Notes to the FinanciAI St#temeMts
Foi. The Ye#r Endeil 31 Deeember 2023
12. Debtors
2023
2022
Diie within one yegr
TThgd¢ debtors
Prcpaymcnls
Otber debtors
231,117
90,000
2,056
323,173
208,178
6,242
214,420
Due After more thAn olle year
Other debtorg
39.000
39.000
362,173
2S3,420
13. Cre(litoi3- Amoiints falljnE due svithiii one ycar
2023
2022
Trade creditOTS
Othcr tax¢s md social security
Other Creditors
Accwals and d¢fwi'ed incoine
1,954
10,457
51,725
16,793
69,816
22,561
28.562
17,282
80,929
138,221
14. Creditoi's- Amounts falling due After mol-e than one yeir
2U23
2022
Other ¢redilors
102,0(M)
152,000
102,000
152,000
Other creditors include clawback claiEllS by thc Ediicatioll and Skil]s Fundillg Agency (ESFA) in relation to past
apprellticeship le￿￿tr$.
Pa8e21

Lo￿d0> EdllcxltDuAITTL15t
Notes to the stAte￿en￿
F￿￿T￿ey￿ar 31 Dect]llber 2013
15. Rt51ridEd
imcothefvudsof Ib¢¢borily wdlldefes¢¢icled fU￿a5￿0￿￿¢1sIugtb¢ foUTriYill8Ull￿￿4lld¢a balaDoesofthnatiorysand8toDtshddolltrUst foT¥trtcift¢putpose.'
hToYemontln fvnds
ToYEnJeD*illfunds
Incojue
Ezpelldtt￿Te
TrHtsxfEf$
IDcoJlle
ExpeDJlthre
T>4DsfÈr5
xl31
DeEetnbei'
2Q23
2fr22
2D23
EdD¢AtiOLalseThÈ¢es
25
I t￿4 539
Every ikn¢ttlhdK¢lig£ity iYjllrec¢iY¢ th¢ fundswlii¢hinyst wedt0sp￿Id (￿5￿ppI￿9¢duOatl0￿ Oll¢G Ihcckniryhas its obti8AiiOrts for thejllothh. Anywwjus iii fvn
Il'iihb¢ alk¢rtied lo th¢uoresltiel¢d tsods,
P￿¢ 22

New Londoll Educational Ti'ust
Notes to the Financial Statements
For Tlie Year Ende(131 Dccember 2023
16. Cllsh generxted from operationy
2023
2022
Swplus for the year
5,032
18.533
Adjuslmenls for..
Depreeiatiott of laugiblc fix¢d assets
Loss on diswsal of fixed ussels
26,230
892
19,047
Movemeiit ill working capital
(Increase) I decrease in debtors
(D¢¢i'¢as¢) l in¢i¢48e in crcditors
Cash (used in) I generated from opei*tion8
(108,753)
(I07,2)( 2)
(183,891)
3,786
219.987
261,353
17. Analysi?i of Changes in Det assets
Asat
January
Asat
December
2023
Cash flo
2023
Net casli
Cash at bank and in hand
246,644
246,644
(197,644)
(197,644)
49.000
49,000
Psge 23

Neiv London Edviational Ti'ust
Notes to thc Financial Ststcments
For Thc Ye#r Ellded 31 December 2023
l¥. Fijixncial instrumellt5
The Charity has the followtng fil￿￿¢[al inslnunents:
Financial as5et5 At fail. value throiigli profit or loss
2023
2022
Finallcial A55et5 that Al'e Ilebt instyuments measured At Amortised eost
Trade dFbtor5
Other debtors
231,117
41,056
208,178
39,000
272,173
247,178
2023
2022
Financial ligbitities measui'ed at amoj'tised cost
Ti'ade creditors
Other taxes and social s¢curity
Otber ¢￿dItorS
Ac¢rnals
1,954
10,457
153,725
15,578
69,816
22,561
180,562
16,155
181,714
289.094
19. Related party tt"ansactions
The charity operates at Sceptre House 75-81 Stain¢8 Road, Hounslow, Londott, Uttited Kingdom, TW3 3HW. The property
is owlled by a family member of tlie Director, Sujani Baddam.
The charity incli￿ed Iental costs of £90,000 (2022.. £180,000) diwillg the year.
Pagc 24