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2023-01-31-accounts

Charity registration number 1153424

Company registration number 07746913 (England and Wales)

THE EAST DURHAM EMPLOYABILITY TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

THE EAST DURHAM EMPLOYABILITY TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Meryl Levington
Sally Waterston
Denis Ford
Sally Hancox
Charity number 1153424
Company number 07746913
Registered office 3 Palmer Road
South West Industrial Estate
Peterlee
SR8 2HU
Independent examiner RMT Accountants & Business Advisors Ltd
Gosforth Park Avenue
Newcastle upon Tyne
NE12 8EG
Bankers Barclays Bank PLC
Leicester
Leicestershire
LE87 2BB

THE EAST DURHAM EMPLOYABILITY TRUST

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5 - 6
Balance sheet 7 - 8
Notes to the financial statements 9 - 21

THE EAST DURHAM EMPLOYABILITY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JANUARY 2023

The trustees present their annual report and financial statements for the year ended 31 January 2023.

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

Objectives and activities

The charity's objects are as follows:

The relief of unemployment for the benefit of the public in such ways as maybe thought fit, including assistance to find employment.

The promotion of urban or rural regeneration in areas of social and economic deprivation, and in particular East

Durham, by all or any of the following means:

Public benefit that is provided by the charity

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Review of charitable activities undertaken by the charity

The East Durham Employability Trust has continued with our mission to maximise the potential of individuals whilst adding value to industry by responsively developing skills and attitudes to match local industry needs. Our Destination Employment programme is thriving, offering a bespoke 12 week work experience programme for individuals who are long term unemployed. We have also offered short term work trials leading into direct paid employment. We hope to expand upon our services in the coming year, increasing work experience placements and diversifying our training potential further by attracting new customers in different sectors to provide a variety of contracts on which our candidates can be trained.

Financial review

Review of financial position

The accounts are set out on pages 5 to 21.

Cashflow has suffered this year due to difficulties in the timing of a project for one of our largest customers with whom we have a long term relationship. This has resulted in higher than normal debtors and creditors at the year end. New credit terms have been agreed which will ensure that income will be received more regularly in the future.

Policies on reserves

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at levels sufficient to enable the charity to continue with its core activities. equivalent to between three and six month’s expenditure. The trustees consider that there is currently a deficit on unrestricted reserves and are actively seeking new sources of funding.

THE EAST DURHAM EMPLOYABILITY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)(CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Risk management

The trustees have assessed the major risks to which the charity is exposed, in particular the financial and operational risks, and are satisfied that systems are in place to mitigate exposure to the major risks. Following the COVID-19 pandemic, during 2020/21, the Trustees decided that the risk register will be reviewed at each Board meeting.

Plans for future periods

The board of trustees is looking at ways in which to expand the income generating activities of the charity along with seeking funding from local businesses and government bodies. We also wish to add to our Board of Trustees to provide a more diverse and inclusive Board with a wider variety of skills and experiences.

Structure, governance and management

Nature of governing document and constitution of the charity

The charity is a company limited by guarantee and is therefore governed by a memorandum and articles of association. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees, who are also the directors for the purpose of company law, and who served during the year were:

Meryl Levington Sally Waterston Denis Ford Sally Hancox

Recruitment and appointment of trustees

In the governing documents of the charity there is no maximum number of trustees set, but there should, at any one time, be in place a minimum of three trustees which represents the quorum. A trustee must be over 18 years of age.

Potential trustees are recruited through recommendation, referral or advertisement where a skills shortage has been identified. Potential trustees in the first instance will be met by the CEO and given an overview of the organisation. Following this they will be interviewed by two members of the board and if successful they will be invited to attend the next available board meeting.

THE EAST DURHAM EMPLOYABILITY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)(CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Statement of trustees' responsibilities

The trustees, who are also the directors of The East Durham Employability Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' report was approved by the Board of Trustees.

Sally Waterston Trustee

Dated: 10 November 2023

THE EAST DURHAM EMPLOYABILITY TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE EAST DURHAM EMPLOYABILITY TRUST

I report to the trustees on my examination of the financial statements of The East Durham Employability Trust (the charity) for the year ended 31 January 2023.

Responsibilities and basis of report

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

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

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

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

RMT Accountants & Business Advisors Ltd Stephen Slater FCA Gosforth Park Avenue Newcastle upon Tyne NE12 8EG

Dated: 14 November 2023

THE EAST DURHAM EMPLOYABILITY TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JANUARY 2023

Current financial year
Unrestricted Unrestricted Restricted Total Total
funds funds funds
general designated
2023 2023 2023 2023 2022
Notes £ £ £ £ £
Income from:
Donations and legacies 3 14,928 - 23,000 37,928 84,890
Charitable activities 4 445,290 - - 445,290 433,836
Investments 5 3 - - 3 6
Total income 460,221 - 23,000 483,221 518,732
Expenditure on:
Charitable activities 6 495,031 662 15,667 511,360 496,771
Other 10 5,579 - - 5,579 10,019
Total expenditure 500,610 662 15,667 516,939 506,790
Net (expenditure)/income for the year
Net movement in funds (40,389) (662) 7,333 (33,718) 11,942
Fund balances at 1 February 2022 (165,498) 662 - (164,836) (176,778)
Fund balances at 31 January 2023 (205,887) - 7,333 (198,554) (164,836)

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

All income and expenditure derive from continuing activities.

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

THE EAST DURHAM EMPLOYABILITY TRUST

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JANUARY 2023

Prior financial year

Prior financial year
Unrestricted Unrestricted Total
funds funds
general designated
2022 2022 2022
Notes £ £ £
Income from:
Donations and legacies 3 84,890 - 84,890
Charitable activities 4 433,836 - 433,836
Investments 5 6 - 6
Total income 518,732 - 518,732
Expenditure on:
Charitable activities 6 495,778 993 496,771
Other 10 10,019 - 10,019
Total expenditure 505,797 993 506,790
Net (expenditure)/income for the year
Net movement in funds 12,935 (993) 11,942
Fund balances at 1 February 2021 (178,433) 1,655 (176,778)
Fund balances at 31 January 2022 (165,498) 662 (164,836)

THE EAST DURHAM EMPLOYABILITY TRUST

BALANCE SHEET

AS AT 31 JANUARY 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 12 2,713 5,218
Current assets
Stocks 13 93,054 40,285
Debtors 14 222,055 109,701
Cash at bank and in hand 4,410 40,438
319,519 190,424
Creditors: amounts falling due within
one year 16 (315,701) (164,250)
Net current assets 3,818 26,174
Total assets less current liabilities 6,531 31,392
Creditors: amounts falling due after
more than one year 17 (205,085) (196,228)
Net liabilities (198,554) (164,836)
Income funds
Restricted funds 19 7,333 -
Unrestricted funds
Designated funds 20 - 662
General unrestricted funds (205,887) (165,498)
(205,887) (164,836)
(198,554) (164,836)

THE EAST DURHAM EMPLOYABILITY TRUST

BALANCE SHEET (CONTINUED)

AS AT 31 JANUARY 2023

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 January 2023.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved by the Trustees on 10 November 2023

Sally Waterston

Trustee

Company registration number 07746913

THE EAST DURHAM EMPLOYABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

1 Accounting policies

Charity information

The East Durham Employability Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 3 Palmer Road, South West Industrial Estate, Peterlee, SR8 2HU.

1.1 Accounting convention

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

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

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

1.3 Charitable funds

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

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

1.4 Incoming resources

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

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

1.5 Resources expended

All expenditure is accounted for on an accrual basis and has been classified under the headings that aggregate all costs to that category. Charitable activity costs includes expenditure relating to the operation of the charity and includes both direct and support costs relating to those activities. Support costs include central function expenditure and are allocated on the basis of staff allocated to each activity. Governance costs include those incurred in the governance of the charity and its assets, and are primarily associated with constitutional and statutory requirements.

THE EAST DURHAM EMPLOYABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

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

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

Leasehold land and buildings 20% straight line Plant and equipment 20% straight line Fixtures and fittings 15% straight line Motor vehicles 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

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

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

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

1.10 Financial instruments

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

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

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

Basic financial assets

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

THE EAST DURHAM EMPLOYABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

1 Accounting policies

(Continued)

Basic financial liabilities

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

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

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

Derecognition of financial liabilities

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

1.11 Employee benefits

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

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

1.12 Retirement benefits

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

1.13 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

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

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

Critical judgements

Assessing indicators of impairment

In assessing whether there have been any indicators of impairment of assets, the trustees have considered both external and internal sources of information such as market conditions and experience of recoverability.

THE EAST DURHAM EMPLOYABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

(Continued)

Key sources of estimation uncertainty

Determining residual values and useful economic lives of tangible fixed assets

The company depreciates tangible fixed assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.

Judgement is applied by trustees when determining the residual values for tangible fixed assets. When determining the residual value trustees aim to assess the amount that the company would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
general
2023
2023
£
£
Donations and gifts
5,325
-
Grants receivable
9,603
23,000
14,928
23,000
Grants receivable for core activities
Job Retention Scheme funding
-
-
Other
9,603
23,000
9,603
23,000		 Total Unrestricted
funds
general
2023
2022
£
£
5,325
13,966
32,603
70,924
37,928
84,890
-
13,361
32,603
57,563
32,603
70,924		 Total Unrestricted
funds
general
2023
2022
£
£
5,325
13,966
32,603
70,924
37,928
84,890
-
13,361
32,603
57,563
32,603
70,924
84,890
13,361
57,563
70,924

4 Charitable activities

Sales of services by beneficiaries
Ancillary trading income		 2023
£
427,346
17,944
445,290		 2022
£
358,252
75,584
433,836

THE EAST DURHAM EMPLOYABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

5
Investments
Interest receivable
6
Charitable activities
Purchases
Carriage
Share of support costs (see note 7)
Share of governance costs (see note 7)
Analysis by fund
Unrestricted funds - general
Unrestricted funds - designated
Restricted funds		 2023
£
3
2023
£
35,234
14,337
49,571
460,139
1,650
511,360
495,031
662
15,667
511,360		 2022
£
6
2022
£
29,672
15,550
45,222
449,899
1,650
496,771
495,778
993
-
496,771

THE EAST DURHAM EMPLOYABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

7 Support costs


Staff costs
Depreciation
Training fees
Premises costs
General administration
expenses
Equipment rentals and
repairs
Motor expenses
Travel, subsistence and
entertaining
Accountancy
Legal and professional
Subscriptions
Sundries
Independent examination
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
282,912
-
3,175
-
-
-
85,628
-
51,015
-
16,886
-
1,865
-
6,034
-
6,345
-
2,589
-
2,836
-
854
-
-
1,650
460,139
1,650
460,139
1,650		 2023

£
282,912
3,175
-
85,628
51,015
16,886
1,865
6,034
6,345
2,589
2,836
854
1,650
461,789
461,789		 Support
costs
Governance
costs
£
£
282,026
-
4,849
-
400
-
69,203
-
49,183
-
18,862
-
2,065
-
12,501
-
6,740
-
300
-
3,142
-
628
-
-
1,650
449,899
1,650
449,899
1,650		 2022
£
282,026
4,849
400
69,203
49,183
18,862
2,065
12,501
6,740
300
3,142
628
1,650
451,549
451,549

All support cost have been allocated to the only charitable activity of the charity on the basis that no fundraising or other activities have been conducted during the year.

Governance costs includes payments to the independent examiners of £1,650 (2022: £1,650) for the independent examination of the financial statements.

8 Trustees

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

THE EAST DURHAM EMPLOYABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

9 Employees

Number of employees

The average monthly number of employees during the year was:

Charitable activities
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
11
2023
£
262,304
16,755
3,853
282,912		 2022
Number
11
2022
£
261,759
16,457
3,810
282,026

The charity considers its key management personnel comprises of the Chief Executive Officer. The total employment costs of the key management personnel were £60,000 (2022: £60,000).

The number of employees whose annual remuneration was £60,000 or more were:

2023 2022
Number Number
£60,000 - £70,000 1 1

10 Other

2023 2022
£ £
Interest payable 5,579 10,019

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

THE EAST DURHAM EMPLOYABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

12
Tangible fixed assets
Leasehold
land and
buildings
Plant and
equipment
Fixtures and
fittings
Motor
vehicles
£
£
£
£
Cost
At 1 February 2022
37,890
38,588
11,080
3,000
Additions
670
-
-
-
At 31 January 2023
38,560
38,588
11,080
3,000
Depreciation and impairment
At 1 February 2022
36,757
35,936
9,897
2,750
Depreciation charged in the year
303
1,439
1,183
250
At 31 January 2023
37,060
37,375
11,080
3,000
Carrying amount
At 31 January 2023
1,500
1,213
-
-
At 31 January 2022
1,133
2,652
1,183
250
13
Stocks
2023
£
Work in progress
93,054
14
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
206,706
Prepayments and accrued income
15,349
222,055		 Total
£
90,558
670
91,228
85,340
3,175
88,515
2,713
5,218
2022
£
40,285
2022
£
99,862
9,839
109,701

THE EAST DURHAM EMPLOYABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

15
Loans and overdrafts
Bank overdrafts
Bank loans
Other loans
Payable within one year
Payable after one year
16
Creditors: amounts falling due within one year
Notes
Bank loans and overdrafts
15
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
17
Creditors: amounts falling due after more than one year
Notes
Bank loans
15
Other borrowings		 2023
£
14,507
56,034
164,451
234,992
29,907
205,085
2023
£
29,907
69,752
68,191
66,556
81,295
315,701
2023
£
40,634
164,451
205,085		 2022
£
-
50,000
151,228
201,228
5,000
196,228
2022
£
5,000
75,618
45,578
21,710
16,344
164,250
2022
£
45,000
151,228
196,228

18 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £3,853 (2022: £3,810).

THE EAST DURHAM EMPLOYABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

19 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds
Balance at Incoming Resources Balance at
1 February resources expended 31 January
2022 2023
£ £ £ £
The Ballinger Trust - 15,000 (15,000) -
The Northern Impact Fund - 8,000 (667) 7,333
- 23,000 (15,667) 7,333

The Ballinger Charitable Trust Towards staffing costs.

The Northern Impact Fund

Working capital to support new contracts and for the taking on of new employees.

20 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in funds Movement in funds Movement in funds
Balance at Resources Balance at Resources Balance at
1 February expended 1 February expended 31 January
2021 2022 2023
£ £ £ £ £
Fixed asset fund 1,655 (993) 662 (662) -
1,655 (993) 662 (662) -

Fixed asset fund

This fund represents fixed assets which were purchased with restricted funds and the terms of the restrictions have been met, allowing the charity to use the asset on an unrestricted basis. This fund is now fully utilised.

THE EAST DURHAM EMPLOYABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

21 Analysis of net assets between funds
Unrestricted Designated Restricted Total Unrestricted Designated Total
funds funds funds funds funds
2023 2023 2023 2023 2022 2022 2022
£ £ £ £ £ £ £
Fund balances at 31 January 2023 are represented by:
Tangible assets 2,713 - - 2,713 4,556 662 5,218
Current assets/(liabilities) (3,515) - 7,333 3,818 26,174 - 26,174
Long term liabilities (205,085) - - (205,085) (196,228) - (196,228)
(205,887) - 7,333 (198,554) (165,498) 662 (164,836)

THE EAST DURHAM EMPLOYABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

22 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating lease for the charity's premises, which fall due as follows:

Within one year
Between two and five years		 2023
£
63,665
175,079
238,744		 2022
£
14,875
-
14,875

THE EAST DURHAM EMPLOYABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

23 Related party transactions

Actif

Meryl Levington, director and trustee, is a consultant for Actif. The balance due to Actif at the year end is £25,000 (2022: £25,000). This is repayable within 375 days of the charity receiving a written notice of demand.

Marley Kavelle Limited

Mr W Marley, chief executive, is a director of Marley Kavelle Ltd. Previously Marley Kavelle Ltd advanced an interest free loan to the charity and raised invoices for management fees. The balance due to Marley Kavalle Ltd at the year end is £82,442 (2022: £101,466). No interest is charged and the balance is repayable within 375 days of the charity receiving a written notice of demand.

Mr W Marley

At the year end £41,100 (2020: £11,000) was due to Mr W Marley, chief executive.