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← The Tutor Trust

2021-06-30-accounts

Company registration number: 07771465 Charity registration number: 1144043

Tutor Trust

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 30 June 2021

Tutor Trust

Contents

Reference and Administrative Details 1
Strategic Report 2 to 5
Trustees' report (incorporating Directors' report) 6 to 7
Statement of Trustees' Responsibilities 8
Independent Auditors' Report 9 to 11
Statement of Financial Activities 12
Balance Sheet 13
Statement of Cash Flows 14
Notes to the Financial Statements 15 to 25

Tutor Trust

Reference and Administrative Details

Trustees P J McIntyre
K M August (appointed 7 September 2021)
L Banahene (appointed 7 September 2021)
L V Crompton
M G Emmerich
M A Hanbury (appointed 7 September 2021)
J Lister (resigned 26 October 2021)
P Lloyd (appointed 7 September 2021)
B Murden (resigned 30 September 2021)
J Nuttall
N Ogle (appointed 26 October 2021)
H L Pratten (appointed 7 September 2021)
Key Management Personnel Nick Bent, Co-founder and Chief Executive Officer
Abigail Shapiro, Co-founder and Executive Director
Principal Office 3rdFloor Virginia House
5-7 Great Ancoats Street
Manchester
M4 5AD
The charity is incorporated in England and Wales.
Company Registration Number 07771465
Charity Registration Number 1144043
Bankers The Co-operative Bank plc
PO Box 101
1 Balloon Street
Manchester
M60 4EP
Auditor Beever and Struthers
Chartered Accountant and Statutory Auditor
St George's House
215-219 Chester Road
Manchester
M15 4JE

Page 1

Tutor Trust

Strategic Report for the Year Ended 30 June 2021

The Trustees, who are directors for the purposes of company law, present their strategic report for the year ended 30 June 2021, in compliance with s414C of the Companies Act 2006.

Achievements and Performance

Implementing our Three Year Plan

The 2020/21 financial year was the second year of our ambitious Three Year Plan which was signed off by our Trustees in July 2019, but as we started the year in the early stages of the COVID-19 pandemic we were aware that it was likely to be a very different year to the one we had planned.

The heart and soul of our plan is about maximising the positive impact of tuition on pupil outcomes, especially for the disadvantaged pupils we serve in Greater Manchester, Leeds and Liverpool, and this has become more important than ever given the disruption to education caused by the pandemic.

Our plan had an initial focus on quality and impact, with growth coming later in the plan, and we were aiming to work with at least 4,100 young people per annum by 2021/22. The announcement of the National Tutoring Programme in June 2020 significantly accelerated our growth plans and we were able to support over 6,000 young people in 2020/21.

Financial support

Following the launch of our Three Year Plan, we were able to secure pledges for the full amount of unrestricted income we need up to the end of 2021/22. During 2020/21 we have established relationships with new grant-making trusts, companies and philanthropists who also want to support our work, either through providing unrestricted funding or through funding for specific projects.

We continue to receive vital support from Impetus – this includes financial support, but also consultancy advice from our Investment Director, pro bono support from the Impetus network, introductions to other funders, and bespoke advice about scaling up, which has been particularly valuable as we joined the National Tutoring Programme.

Our impact

During the 2020/21 academic year, we worked with 6,306 pupils in 215 schools, spread across years 5 to 11 – this was more than double the number of pupils we have worked with in any previous academic year. 61% of the pupils we worked with were disadvantaged compared with 28% of pupils nationally, and 18% of pupils had Special Educational Needs or Disabilities (SEND).

On average, participating pupils attended 73% of their scheduled tutoring sessions. COVID-19 has meant that attendance was lower than we would like, and we will be seeking to increase this in the next academic year.

With COVID-19 leading to cancellation of SATs in both 2020 and 2021 and the use of different systems for awarding GCSE grades, we are not including quantitative data on pupil outcomes in this report as we have done in previous years. Where schools have provided us with data on Year 11 outcomes, 70% of our pupils achieved Grade 4 or above in their tutoring subject.

National Tutoring Programme

The National Tutoring Programme (NTP) was announced as a key part of the government’s programme of funding to support children and young people to catch up on missed learning caused by COVID-19. Tutor Trust became an NTP Tuition Partner in November 2020 and most of the tutoring we delivered in the 2020/21 academic year took place as part of NTP-funded programmes. The NTP funding subsidised the costs of tuition for schools as well as providing scale-up support for Tuition Partners to enable them to rapidly increase the amount of tuition they could deliver.

NTP-funded tuition was delivered to 4,845 of the pupils we worked with during the year, across 160 of our partner schools.

Page 2

Tutor Trust

Strategic Report for the Year Ended 30 June 2021

We received excellent feedback from our participation in the NTP and were commended for our strong tutor recruitment process, our experience of working with disadvantaged pupils, our evidence of impact, and our strong data collection system.

Alternative Provision and Looked After Children

Alongside the tutoring services we provide in mainstream settings, we also continue to offer more specialised support for Looked After Children, young people at risk of exclusion, persistent absentees and young people in Alternative Provision settings. Many of these pupils receive longer programmes of tutoring than in our mainstream offer and, for those in Alternative Provision, tuition can make up a significant portion of the time they spend in education each week.

The Right Angle, our collaborative project with TLC: Talk, Listen, Change which provides both academic intervention and therapeutic support, has continued with the support of philanthropic funding after our funding through the Department for Education’s Alternative Provision Innovation Fund came to an end in July 2020.

In July 2020 our work on The Right Angle was recognised with the prestigious ‘Scaling Award’ from the Fair Education Alliance (FEA). We were one of just seven winners across the whole country. The FEA provides a range of support, advice, resource, mentoring and guidance to accelerate the impact and growth of its Award Winners.

We supported 251 Looked After Children and 81 pupils in Alternative Provision during the 2020/21 academic year through our specialised support or The Right Angle project.

Innovation

We have a tradition of developing innovative programmes and partnerships, and this has continued over the past year. Following on from our successful involvement in the National Pilot of Online Tutoring in the summer of 2020, we received funding from The Hg Foundation to trial ‘hybrid’ tutoring. The ambition was for pupils to receive 70% of their tutoring sessions online and 30% of their sessions in person, although we have supported schools in a flexible approach to this hybrid model as they continued to face disruption due to COVID-19. The funding enabled 238 pupils in 16 schools to access small group tutoring in English and Maths. The Hg Foundation also provided laptops to aid the delivery of our tutoring programmes.

We also created a fun and engaging tutoring programme for Years 5 and 6 called Puppies and Pirates. Developed by teachers in our Quality and Impact Team, the programme was aimed at addressing gaps in learning resulting from school closures. Nearly 30 primary schools ran the programme, providing 15 hours of both English and Maths tutoring, and the schools welcomed this new approach.

Our team

The growth we have seen over the year is also reflected in our staff team, which has almost doubled in size since the start of the year. All our teams have grown, from our Quality and Impact Teams, who ensure we can continue to monitor and quality check the growing number of tutoring sessions, to our team of school co-ordinators, who arrange all the tuition sessions with our partner schools. We have also introduced some new roles to our team to reflect our growth as an organisation, including a dedicated Finance Director and Communications Manager, and we now have eleven Qualified Teachers within our team.

We were keen to broaden the range of experience, backgrounds and geographies on our Board of Trustees, as well as making sure our governance remains robust. An open recruitment exercise to identify new Trustees from Greater Manchester, Merseyside, Leeds and Bradford took place in early 2021 which led to five trustees, each with extensive experience in education, joining the Board shortly after the end of the financial year. Plus, we have now recruited a sixth new trustee who is a senior lawyer and experienced company secretary. We are so grateful for the immense contribution that all our trustees make to Tutor Trust as volunteers.

Page 3

Tutor Trust

Strategic Report for the Year Ended 30 June 2021

Of course, our team wouldn’t be complete without our fantastic tutors, who work hard in schools day in and day out and who develop wonderful partnerships with pupils and teachers alike. We recruited over 650 tutors this year, with 574 of them completing our rigorous training programme and onboarding requirements, to enable us to deliver our record levels of tuition.

Financial review

As outlined in these accounts, the charity’s income has continued to perform well with total income of £3.1m (2019/20: £1.8m). Income from grants and donations has grown to £2.0m, which includes £490k of set-up funding for the NTP. Over half of the income from grants and donations (£1.1m) is unrestricted. Tuition income has doubled compared to the previous financial year to £1.1m (2019/20: £542k) which reflects the significant growth in tuition associated with our involvement in the NTP. Costs were also higher than the previous year (£2.1m compared to £1.2m) but were in line with expectations, reflecting the growth in the charity. We have been able to maintain a healthy cashflow throughout this period and, at the end of the year, the bank balance was £1.3m (2019/20: £416k) with total funds of £1.7m at 30 June 2021.

Policy on reserves

The objective of the reserves policy is to retain sufficient funds to meet costs in the event of a downturn with a target minimum Operating Reserve Fund calculated as three months full operating costs. This policy was adopted in December 2019, with an aim of holding two months full operating costs in unrestricted funding by 30 June 2020, increasing to three months full operating costs by 30 June 2021.

The amount of the Operating Reserve Fund is reviewed at every Finance and Risk Committee meeting and reported to the following Trustee meeting. The balance of unrestricted funds held at 30 June 2021 was £1.5m, of which £1.47m represents free reserves. This represents 8.5 months of full operating costs and the Trustees are satisfied that this is above the level of minimum Operating Reserve Fund required at that point, in line with the agreed reserves policy.

Plans for future periods

Aims and key objectives for future periods

After a very busy end to the 2020/21 financial year, we are moving into the next year in a very strong position. We will be continuing as an NTP Tuition Partner in 2021/22 and the government has also provided an additional funding stream for tuition through School-led Tuition ring-fenced grant funding. Schools will have flexibility to use this additional grant in providing tuition support to pupils that can benefit most and schools will have freedom to determine who is best placed to deliver tutoring support to meet their particular needs. We will be providing tuition to schools through both of these funding steams and will work closely with schools on which approach is best to meet their needs.

During the 2020/21 academic year we piloted online tutoring in Bradford and we are partnering with University of Bradford and Morrisons Foundation to formally launch in the city, making it our fourth in the North of England. We will be offering face-to-face tuition to schools across Bradford and are looking forward to continuing to work with those schools who took part in the pilot, as well as new school partners in the area.

We will continue to innovate with the launch of a new project from our Alternative Provision and Looked After Children Team, which delivers Achieve units and qualifications from The Prince’s Trust alongside tuition in either English or Maths. This project offers vulnerable young people the chance to develop personally and build life skills, and the Achieve units can be shaped by each young person’s interests. We will also be delivering tuition through the ‘MESME: Mathematics Education for Social Mobility and Excellence’ project, created by Ark and working with University of Liverpool Maths School, which is designed to stretch and challenge the top mathematicians in Years 7 and 8.

Our bespoke ‘Connect’ platform is now embedded across the charity, providing live data about all aspects of tuition delivery and impact, and our next step is to launch our ‘Insight’ portal which will enable us to share live data with our school partners about our programmes in their school.

Page 4

Tutor Trust

Strategic Report for the Year Ended 30 June 2021

2021/22 is the final year of our Three Year Plan and we will be looking at our next three-year strategy, considering how we build on the growth, quality and impact we have delivered so successfully over the last two years. We will once again collaborate closely with Impetus, as one of their portfolio charities, in developing our next Three Year Plan, which will take us to the end of the 2024/25 academic year. We also hope to draw on Impetus’s extensive pro bono network as we do this vital strategic planning.

Principal risks and uncertainties

Risk management

Tutor Trust has developed a bespoke risk register for the charity, which is regularly reviewed and revised by the Senior Management Team and the Trustees. The Finance and Risk Committee takes a close interest in the Risk Register, reviewing it at each meeting.

Examples of significant risks include: partnerships with schools and tuition income; safeguarding; tutor availability; employment status of tutors.

Thank you!

We are hugely grateful to all our partners and supporters. Thank you for helping us to 'transform lives through tutoring' across the North of England.

The strategic report was approved by the Trustees of the charity on 21 March 2022 and signed on its behalf by:

……………………………………… P J McIntyre Trustee

Page 5

Tutor Trust

Trustees’ report (incorporating Directors’ report)

The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 30 June 2021.

Structure, governance and management

Nature of governing document

The Company is governed by its Memorandum and Articles of Association.

Recruitment and appointment of Trustees

Our initial Board of Trustees were recruited informally, through our professional and education networks in Manchester. All our Trustees have an enhanced DBS check. With our strategic partner, Impetus, we pursued a formal Board review in order to professionalise and develop our governance as we grow as a charity, and during the year we undertook an open recruitment process supported by an executive search firm specialising in the third sector, education and membership sectors. Since the end of the financial year, we have welcomed six new trustees to the Board as a result of this recruitment process. A formal induction process has been introduced for all new Trustees joining the Board.

Two of our trustees, Brendan Murden and Jim Lister, have stepped down from the Board of Trustees since the end of the financial year, and we are very grateful to them for their contribution to Tutor Trust during their time on the Board.

Arrangements for setting key management personnel remuneration

Tutor Trust has introduced a comprehensive Reward Statement that summarises the benefits to employees of working for our charity, including fair and competitive salaries for the sector. Salaries have been benchmarked against the rest of the sector and individual salaries are reviewed annually as part of the appraisal process.

Constitution and Organisational structure

The Company is registered as a charitable company, limited by guarantee, registered charity number 1144043.

The charitable company is governed by the Trustees who are elected under terms of the charitable company's rules.

Major risks and management of those risks

Risk management

Tutor Trust has developed a bespoke risk register for the charity, which is regularly reviewed and revised by the Senior Management Team and the Trustees. The Finance and Risk Committee takes a close interest in the Risk Register, reviewing it at each meeting.

Examples of significant risks include: partnerships with schools and tuition income; safeguarding; tutor availability; employment status of tutors.

Objectives and activities

Objects and Activities

The Charity operates through a charitable company and the Charity's objects are to advance the education of the public in the United Kingdom.

Public Benefit

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 6

Tutor Trust

Trustees’ report (incorporating Directors’ report)

The Charities Act 2011 identifies 13 descriptions of charitable purpose and in our view the work of the charity meets the following:

Activities undertaken to further charitable objectives for public benefit are described on page 2. All services are provided free of charge to beneficiaries.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

In reaching this conclusion, the Trustees have considered the impact that the COVID-19 pandemic has had on the activities and financial position of the charity. The charity was quickly able to adapt its processes to enable tuition to be delivered remotely and was appointed as a tuition provider under the National Tutoring Programme (NTP) in November 2020. Since the end of the financial year, the charity has been confirmed as a provider for the second year of the NTP which subsidises the cost of tuition provided to schools by 70%. The Operating Reserve Fund also remains above the minimum target of three months full operating costs. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Disclosure of information to auditor

Each Trustee has taken steps that they ought to have taken as a Trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The Trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the Trustees of the charity on 21 March 2022 and signed on its behalf by:

……………………………………… P J McIntyre Trustee

Page 7

Tutor Trust

Statement of Trustees’ Responsibilities

The Trustees (who are also the directors of Tutor Trust for the purposes of company law) are responsible for preparing the Trustees' report (incorporating Directors' report) and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements. The Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees of the charity on 21 March 2022 and signed on its behalf by:

……………………………………… P J McIntyre Trustee

Page 8

Tutor Trust

Independent Auditor’s Report to the Members of Tutor Trust

Opinion

We have audited the financial statements of Tutor Trust (the ‘charitable company’) for the year ended 30 June 2021 which comprise the statement of financial activities, balance sheet, statement of cash flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 9

Tutor Trust

Independent Auditor’s Report to the Members of Tutor Trust

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 8, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below.

The extent to which the audit was considered capable of detecting irregularities including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Page 10

Tutor Trust

Independent Auditor’s Report to the Members of Tutor Trust

In identifying and addressing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s trustees been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body for our audit work, for this report, or for the opinions we have formed.

Richard Graham BA, ACA, Senior Statutory Auditor

For and on behalf of Beever and Struthers St George's House 215-219 Chester Road Manchester M15 4JE

Date: 22 March 2022

Page 11

Tutor Trust

Statement of Financial Activities for the Year Ended 30 June 2021

(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
17
Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
17		 Unrestricted
funds
£
1,081,279
425,573
1,506,852
(575,137)
(575,137)
931,715
931,715
586,561
1,518,276
Unrestricted
funds
£
874,008
542,221
1,416,229
(930,690)
(930,690)
485,539
485,539
101,022
586,561		 Restricted
funds
£
909,189
654,788
1,563,977
(1,526,746)
(1,526,746)
37,231
37,231
136,019
173,250
Restricted
funds
£
383,667
-
383,667
(283,644)
(283,644)
100,023
100,023
35,996
136,019		 Total
2021
£
1,990,468
1,080,361
3,070,829
(2,101,883)
(2,101,883)
968,946
968,946
722,580
1,691,526
Total
2020
£
1,257,675
542,221
1,799,896
(1,214,334)
(1,214,334)
585,562
585,562
137,018
722,580

All of the charity's activities derive from continuing operations during the above two periods.

The notes on pages 15 to 25 form an integral part of these financial statements.

Page 12

Tutor Trust

(Registration number: 07771465) Balance Sheet as at 30 June 2021

Note
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
14
Creditors: Amounts falling due within one year
15
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
17
Unrestricted income funds
Unrestricted funds
Total funds
17		 2021
£
77,567
554,391
1,306,986
1,861,377
(247,418)
1,613,959
1,691,526
173,250
1,518,276
1,691,526		 2020
£
20,292
359,378
416,453
775,831
(73,543)
702,288
722,580
136,019
586,561
722,580

The financial statements on pages 12 to 25 were approved by the Trustees, and authorised for issue on 21 March 2022 and signed on their behalf by:

……………………………………… P J McIntyre Trustee

The notes on pages 15 to 25 form an integral part of these financial statements.

Page 13

Tutor Trust

Statement of Cash Flows for the Year Ended 30 June 2021

Note
Cash flows from operating activities
Net cash income
Adjustments to cash flows from non-cash items
Depreciation
Working capital adjustments
Increase in debtors
13
Increase/(decrease) in creditors
15
Net cash flows from operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
12
Net cash flows from investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 July
Cash and cash equivalents at 30 June		 2021
£
968,946
27,371
996,317
(195,013)
173,875
975,179
(84,646)
(84,646)
890,533
416,453
1,306,986		 2020
£
585,562
5,110
590,672
(118,654)
(58,986)
413,032
(24,131)
(24,131)
388,901
27,552
416,453

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 15 to 25 form an integral part of these financial statements.

Page 14

Tutor Trust

Notes to the Financial Statements for the Year Ended 30 June 2021

1 Charity status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

The address of its registered office is: 3rd Floor Virginia House 5-7 Great Ancoats Street Manchester M4 SAD

These financial statements were authorised for issue by the Trustees on 21 March 2022.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Tutor Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

In reaching this conclusion, the Trustees have considered the impact that the COVID-19 pandemic has had on the activities and financial position of the charity. The charity was quickly able to adapt its processes to enable tuition to be delivered remotely and was appointed as a tuition provider under the National Tutoring Programme (NTP) in November 2020. Since the end of the financial year, the charity has been confirmed as a provider for the second year of the NTP which subsidises the cost of tuition provided to schools by 70%. The Operating Reserve Fund also remains above the minimum target of three months full operating costs. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Accounting judgements

The Trustees have considered the employment status of the tutors and concluded that they are to be classed as self-employed for both employment law and tax purposes.

Page 15

Tutor Trust

Notes to the Financial Statements for the Year Ended 30 June 2021

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Charitable activities

Income from charitable activities is school tutoring income and is recognised with the delivery of the service and when the revenue can be reliably measured.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and are allocated to the activity to which they relate on a time basis.

Governance costs

These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and Trustees' meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Page 16

Tutor Trust

Notes to the Financial Statements for the Year Ended 30 June 2021

Tangible fixed assets

Fixed assets are initially recorded at cost.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Computers and equipment

Depreciation method and rate

over 3 years

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charitable company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the Trustees' discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Page 17

Tutor Trust

Notes to the Financial Statements for the Year Ended 30 June 2021

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

3 Income from donations and legacies

Donations and legacies;
Donations
Grants, including capital grants;
Grants from other charities		 Unrestricted
funds
General
£
586,279
495,000
1,081,279		 Restricted
funds
£
20,000
889,189
909,189		 Total
2021
£
606,279
1,384,189
1,990,468		 Total
2020
£
846,008
411,667
1,257,675

4 Income from charitable activities

School tutoring Unrestricted
funds
General
£
425,573		 Restricted
funds
£
654,788		 Total
2021
£
Total
2020
£
1,080,361
542,221

Page 18

Tutor Trust

Notes to the Financial Statements for the Year Ended 30 June 2021

5 Expenditure on charitable activities

School tutoring
School tutoring		 Activity
undertaken
directly
£
1,445,495
Activity
undertaken
directly
£
692,162		 Activity
support costs
£
2021
£
656,388
2,101,883
Activity
support costs
£
2020
£
522,172
1,214,334

£575,137 (2020 – £930,690) of the above expenditure was attributable to unrestricted funds and £1,526,746 (2020 – £283,644) to restricted funds.

6 Analysis of governance and support costs

Support costs allocated to charitable activities

Staff costs
Premises expenses
Office costs
Technology costs
Depreciation
Professional fees
Governance costs
Staff costs
Premises expenses
Office costs
Technology costs
Depreciation
Professional fees
Governance costs		 Governance
costs
£
-
-
-
-
-
-
18,191
18,191
Governance
costs
£
-
-
-
-
-
-
9,570
9,570		 Support costs
£
427,829
55,113
29,329
85,012
27,371
13,543
-
638,197
Support costs
£
353,936
56,620
39,152
45,752
5,110
12,032
-
512,602		 Total
2021
£
427,829
55,113
29,329
85,012
27,371
13,543
18,191
656,388
Total
2020
£
353,936
56,620
39,152
45,752
5,110
12,032
9,570
522,172

Page 19

Tutor Trust

Notes to the Financial Statements for the Year Ended 30 June 2021

Governance costs

Audit fees
Audit of the financial statements
Other fees paid to auditors
Trustee recruitment costs		 Unrestricted
funds
General
£
7,800
2,591
7,800
18,191		 Total
2021
£
7,800
2,591
7,800
18,191		 Total
2020
£
5,472
4,098
-
9,570

7 Net incoming/outgoing resources

Net incoming/(outgoing) resources for the year include:

Audit fees
Depreciation of fixed assets
Operating leases		 2021
£
2020
£
7,800
5,472
27,371
5,110
28,700
45,800

8 Trustees remuneration and expenses

No Trustees, nor any persons connected with them, have received any remuneration from the charity during the current year and the previous year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the current year and the previous year.

9 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2021
£
1,050,756
89,816
23,324
1,163,896		 2020
£
626,063
59,539
14,296
699,898

Page 20

Tutor Trust

Notes to the Financial Statements for the Year Ended 30 June 2021

The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:

Administration, governance and charitable activities – Head count
Administration, governance and charitable activities – Full time equivalent
he number of employees whose emoluments fell within the following bands w
£60,001 - £70,000		 2021
No
38
35
as:
2021
No
1		 2020
No
21
19
2020
No
1

The number of employees whose emoluments fell within the following bands was:

The total employee benefits of the key management personnel of the charity were £137,936 (2020 – £133,922).

10 Auditor Fees

Audit of the financial statements
Fees payable to the independent auditors for:
All other non-audit services		 2021
£
7,800
2,591		 2020
£
5,472
4,098

11 Taxation

The charity is a registered charity and is therefore exempt from taxation on its charitable activities.

12 Tangible fixed assets

Cost
At 1 July 2020
Additions
At 30 June 2021
Depreciation
At 1 July 2020
Charge for the year
At 30 June 2021
Net book value
At 30 June 2021
At 30 June 2020		 Computers
and equipment
£
31,507
84,646
116,153
11,215
27,371
38,586
77,567
20,292		 Total
£
31,507
84,646
116,153
11,215
27,371
38,586
77,567
20,292

Page 21

Tutor Trust

Notes to the Financial Statements for the Year Ended 30 June 2021

13 Debtors

Trade debtors
Prepayments and accrued income		 2021
£
214,206
340,185
554,391		 2020
£
347,861
11,517
359,378

14 Cash and cash equivalents

2021 2020
£ £
Cash at bank 1,306,986 416,453

15 Creditors: amounts falling due within one year

Trade creditors
Other taxation and social security
Accruals and deferred income		 2021
£
39,274
34,024
174,120
247,418		 2020
£
4,868
19,961
48,714
73,543

16 Obligations under leases and hire purchase contracts

Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Land and buildings
Between one and five years
Other
Between one and five years		 2021
£
63,250
-		 2020
£
86,250
5,700

Page 22

Tutor Trust

Notes to the Financial Statements for the Year Ended 30 June 2021

17 Funds

Unrestricted funds
General
General
Restricted funds
Dulverton Trust
Northern Powerhouse
Stichting Benevolentia
Impetus
Technology fund
HG Foundation
The Education Endowment
Foundation
Shaping Futures
Total restricted funds
Total funds
Unrestricted funds
General
General
Restricted funds
Oglesby Charitable Trust
Stone Family Foundation
Dulverton Trust
Mohn/Westlake Foundation
Northern Powerhouse
Stichting Benevolentia
Total restricted funds
Total funds		 Balance at 1
July 2020
£
586,561
16,019
10,000
110,000
-
-
-
-
-
136,019
722,580
Balance at 1
July 2019
£
101,022
413
25,000
-
10,583
-
-
35,996
137,018		 Incoming
resources
£
1,506,852
-
-
10,327
83,334
206,000
100,000
1,144,316
20,000
1,563,977
3,070,829
Incoming
resources
£
1,416,229
-
-
16,667
247,000
10,000
110,000
383,667
1,799,896		 Resources
expended
£
(575,137)
(16,019)
(10,000)
(98,022)
(83,334)
(70,954)
(100,000)
(1,134,993)
(13,424)
(1,526,746)
(2,101,883)
Resources
expended
£
(930,690)
(413)
(25,000)
(648)
(257,583)
-
-
(283,644)
(1,214,334)		 Balance at 30
June 2021
£
1,518,276
-
-
22,305
-
135,046
-
9,323
6,576
173,250
1,691,526
Balance at 30
June 2020
£
586,561
-
-
16,019
-
10,000
110,000
136,019
722,580

Page 23

Tutor Trust

Notes to the Financial Statements for the Year Ended 30 June 2021

The specific purposes for which the funds are to be applied are as follows:

Oglesby Charitable Trust – To support year 6 children's transition to secondary school.

Stone Family Foundation – Support tuition work in the Leeds area.

Dulverton Trust – To fund a National Pilot of online tutoring.

Mohn/Westlake Foundation – To maximise the quality of tuition, increase the number of beneficiaries and the support the core costs of the organisation.

Northern Powerhouse – To provide laptops for pupils from disadvantaged backgrounds with no access to technology.

Stichting Benevolentia – To support The Right Angle project (combined tuition and therapeutic support for vulnerable pupils).

Impetus – To fund a National Pilot of online tutoring.

Technology fund – To fund organisational and technology development to increase the number of children benefiting from tuition.

HG Foundation – To fund a Hybrid Tutoring Project (in person and online tuition)

The Education Endowment Foundation – To subsidise the costs of tuition delivered as part of the National Tutoring Programme and to fund specific NTP Tuition Partner set up and participation costs Shaping Futures – To fund 1:1 online tuition in Merseyside

18 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
43,921
1,721,773
(247,418)
1,518,276
Unrestricted
funds
General
£
20,292
639,812
(73,543)
586,561		 Restricted
funds
£
33,646
139,604
-
173,250
Restricted
funds
£
-
136,019
-
136,019		 Total funds at
30 June
2021
£
77,567
1,861,377
(247,418)
1,691,526
Total funds at
30 June
2020
£
20,292
775,831
(73,543)
722,580

Page 24

Tutor Trust

Notes to the Financial Statements for the Year Ended 30 June 2021

19 Analysis of net funds

Cash at bank and in hand
Net debt
Cash at bank and in hand
Net debt		 At 1 July 2020
£
416,453
416,453
At 1 July 2019
£
27,552
27,552		 Financing
cash flows
£
890,533
890,533
Financing
cash flows
£
388,901
388,901		 At 30 June
2021
£
1,306,986
1,306,986
At 30 June
2020
£
416,453
416,453

20 Related party transactions

There were no related party transactions in the year or previous year.

Page 25