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2023-08-31-accounts

Level Trust Trustees’ Report and Accounts

Level Trust registered charity 1178223

September 2022 to August 2023

Contents

Charity Information 3
Chair’s Foreword 4
Trustees’ Report 5
Partners & Funders 14
Accounts 15
Notes to the Accounts 21
Independent Examiner’s Report 26

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Level Trust Trustees’ Report and Accounts

Charity Information

As of 31st August 2023

Charity name: Level Trust
Charity number: 1178223 (formally 1153936)
Principal address: Level Trust
The Uniform Exchange
2G The Mall
Luton
LU1 2TW
Trustees: Ms Fowzia Ahmed
Ms Anisah Akhtar
Mr Wasim Akhtar
Mrs Bina Briggs
Mr Christopher Curtis
Mr Altaf Hussain (Chair)
Mr Mostaque Koyes
Mr Sufan Sadiq
Ms Rachel Warwick
Bankers: Metro Bank
10–20 Castle Street
Luton
LU1 3AJ

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Level Trust Trustees’ Report and Accounts

Chair’s Foreword

As we reflect on the past year, it is with immense gratitude and pride that I present this Trustees Report. In the face of unprecedented challenges, Level Trust has remained steadfast in its commitment to supporting children and families facing disadvantage in our community.

Throughout the pages of this report, you will discover the profound impact of our collective efforts. From ensuring access to essential education resources to advocating for equity in learning opportunities, our mission has driven every decision and action. Level Trust gives children what they need for learning.

I extend my heartfelt thanks to our dedicated trustees, staff, volunteers, donors, and partners who have wholeheartedly supported our cause. Your unwavering dedication has empowered us to make a tangible difference in the lives of those we serve.

As we navigate the path ahead, let us continue to stand together, united in our pursuit of a more equitable and inclusive society. Together, we can create lasting change and brighter futures for all.

With gratitude,

Altaf Hussain Chair of Trustees

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Level Trust Trustees’ Report and Accounts

Trustees’ Report

1. Background

This year we helped 2,208 more children than we did in the previous year. Almost half of children in Luton now live in poverty. Living in poverty can mean a child is living in a cold home, going hungry, or making do without everyday essentials. Children in the most vulnerable and precarious circumstances will be among those most exposed to the cost of living crisis. Families with nothing left to cut back on are no longer having to choose between heating or eating – instead they’re unable to afford either. Growing up in poverty can harm children’s life chances, limiting their opportunities, holding them back in education, or leading to worse physical and mental health outcomes. This year, we asked over 100 professionals working with families questions about the wellbeing of children and young people, adverse childhood experiences (ACEs), education, access to basics – including food, utilities, clothing and basic furniture

– and their lived experience of poverty. Collectively, these frontline professionals work with around 4,000 children – many of whom are living in poverty.

Comparisons with the findings from the 2022 Level Trust Impact Report demonstrates a very clear downward trend in the standard of living for these children and young people. The cost-of-living crisis continues to have a significant and enduring impact on children’s wellbeing and life prospects. Alongside this, inflation is having a disproportionate impact on families living in poverty.

Professionals working directly with families and children told us that families were reporting an inability to access the following basics: 52% cannot afford enough food and nutrition. 58% go without basic furniture such as beds, sofas and appliances. 49% cannot afford gas and electricity. 52% are not able to afford their rent or equivalent. 56% go without IT equipment for education or employment.

11 00 ~~9 ,~~

Children helped this year

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Level Trust Trustees’ Report and Accounts

----- Start of picture text -----
Partnership. Dignity. Fun. Generous. Luton
----- End of picture text -----

2. Our aims

3. Values

The aims of Level Trust are to:

Our values are incredibly important to us. They underpin everything we do. At Level Trust, we:

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Level Trust Trustees’ Report and Accounts

4. The team

Level Trust is run day to day by a skilled and

compassionate team of staff and volunteers, without whom we would not be able to fulfil our important aims. The increased demand for our services driven by the cost of living crisis has brought challenges to us in terms of capacity but, throughout, the team have been highly resilient, flexible and committed and have made sure that every family who told us that they needed our help has been supported.

We are incredibly grateful for all that they have given and proud of what they have achieved under such difficult circumstances. We are continually grateful to our funders and partners who have provided us with additional support over the past year, without whom we would not have been able to achieve much of our work. We have been delighted this year to welcome a new member of staff to our team.

Leeann Clarke has joined us as a shop assistant in the Uniform Exchange and has provided additional capacity as demand for our this aspect of our provision increases.

We have also been extremely fortunate to secure the services of a number of highly talented contractors:

Amar Azam continues to provide PR and communications support and manages our social media accounts. He is a well- known face in Luton and has been able to help us to increase the visibility of the charity across the town.

Serena Bower joined us to provide HR support. Serena has an attention to detail and a clear, nononsense approach, The whole staff team has benefitted from her engaging training sessions and she has worked closely with senior leaders to help them to refine and develop the staff team and to create a happy and productive workforce.

This year, we had the very sad news that Kingsley – our Health & Safety advisor – had passed away. The whole Level Trust team would like to convey our deepest condolences to Kingsley’s wife, his family and his friends. He was a kind, generous and supportive member of the Level Trust team.

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Level Trust Trustees’ Report and Accounts

5. Governance

We are pleased to have welcomed Rachel Warwick to the Trustee board. With her expertise in policy and her methodical approach, she has already had a great impact at board meetings and we look forward to continuing to benefit from her experience during her term of office. We also said a fond farewell to Damith Bandara who moved out of the area with his wife and family and Stuart Cowper who stepped down due to a very busy work calendar. We are extremely grateful to them both for their commitment to Level Trust during the time they were trustees.

“Level Trust has provided incredible support to Lea Manor High School, contributing to a more inclusive and enriching educational environment for our students. Level Trust has been instrumental in ensuring that every student at Lea Manor High School has access to essential educational resources by providing free uniforms across all year groups. This initiative has notably alleviated financial strain on families. Level Trust has generously offered free shoe vouchers to support students at Lea Manor High School. By enabling students to acquire suitable footwear, this initiative has enhanced their comfort, safety, and confidence within the school environment, positively impacting overall student well-being.”

6. What We Did

Over the year, we gave Luton children:

7,203 items of school uniform

618 pairs of school shoes

86 out of 86 parents who answered our survey told us they would use the money they saved through using Level Trust to help them pay for more essential items for their children and families. This included food, school trips, clothing, household bills and paying off debts.

464 winter coats

424 sets of learning resources

215 computers.

100% of schools surveyed said our work met children’s basic needs for warm and waterproof clothing and were positive about the support that Level Trust had been able to provide their children in levelling the educational playing field.

“It’s great because I have been able to get help from Level Trust for my children’s uniform and I have been able to get food from the Foodbank. I haven’t got much left at the end of the month, but I am not having to put school uniform on my credit card again.”

“I don’t need to worry about the start of the school year now I know I can go to the Uniform Exchange for help. I used to dread it every time the summer came, and I couldn’t enjoy the time with my children. It made my mental health so bad. The year my youngest went to high school and I knew they would need a laptop, I got so stressed that I went to the doctor to get antidepressants.”

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Level Trust Trustees’ Report and Accounts

“Parents can be reluctant to send their child to school if they do not have the appropriate uniform. Knowing that we can contact Level Trust and that families can access what they need via the Uniform Exchange means that we can get some of our most vulnerable children back into school swiftly meaning that their education is not disrupted, and we are able to provide the wrap around care that they desperately need.”

Families also told us that using the Uniform Exchange stopped them from going into debt, stopped them struggling to afford the basics and meant they had more resources to support their children. 69 out of 86 (80%) children and families surveyed said that using the Uniform Exchange reduced the risk of them missing school. Children told us that they now could take part in P.E. and go to school. Schools told us that through the provision of digital devices, their young people were more engaged in their home learning and removed one of the barriers to them attaining in line with their non-Pupil Premium peers.

15 out of 86 parents surveyed said that their child had missed out on lessons because they couldn’t afford to purchase the school uniform or P.E. kit required. One parent told us,

“Every year I worry about buying uniform. I’ve got three children and two are in high school. It’s so expensive and we barely manage to get by every week without buying extras like uniform. Sometimes I can’t sleep because I am so anxious about buying it all. It’s just so embarrassing not to be able to provide the things my children need.”

Without the correct equipment for school and learning, children told us they missed out on taking part in subjects that require them to purchase resources such as food technology, design technology, music and extra curricular activities. Young people also told us they miss out on exam revision because they can’t

afford revision guides. The most common activity we were told that children missed out on was P.E. because kits are expensive.

“Every week, when we have to bring ingredients to school, I sit and watch my friends cooking with the stuff their mum has sent from home. Everyone thinks I’m forgetful. I’d rather they think that than know that my mum can’t afford the ingredients.”

– R, a 12-year-old boy

Partnership working with schools is essential to ensure that we are reaching the most vulnerable children in our town. This is what schools have told us about the support Level Trust has provided.

“In response to the digital disparities faced by many students, particularly those from disadvantaged backgrounds, Level Trust has provided Chromebooks to Pupil Premium students. These devices serve as invaluable tools for accessing online resources, completing homework and coursework, and engaging in digital learning activities. By equipping PP students with Chromebooks, Level Trust empowers them to overcome barriers to learning and participate fully in their education.”

“The Uniform Exchange enables children to have a good quality uniform which has a huge impact on their confidence.”

“In addition to providing academic support, Level Trust has also extended assistance to disadvantaged families by providing bedding. This initiative aims to address basic needs and ensure that families have a comfortable and secure home environment. By alleviating financial strain and providing essential household items, Level Trust helps create a sense of stability and security for families facing economic hardship.”

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Level Trust Trustees’ Report and Accounts

Children grew in confidence. 100% of children who took part in SMASH (440) showed an improvement in their confidence and 18 out of 21 children surveyed said that getting school uniform from the Uniform Exchange made them feel more confident.

Children told us that, when they had the right uniform, they felt less conscious because they looked like their classmates, could take part in lessons and could play with their friends.

Children and parents felt less worried and had a sense of pride. Schools told us that our work helped to lift the financial burden off their families and parents told us that because of this they felt less worried.

“When I exchange my son’s old uniform for the next size up, I feel like I am not a charity case – that I’m not just taking handouts. I am giving something and getting something. It feels fair.”

– Mother, Uniform Exchange customer

“When you have the right uniform you think, yes – I can do that!”

– Ava, age 8

“We did fun things that made me confident because SMASH is all about being kind and brave.”

“Thank you so much for the shoes and uniform. I was so worried about where I was going to get those things for 3 children. I was beginning to miss meals so I could save money for their school things.”

– Family on a work visa with no recourse to public funds

– Key Stage 2 child who attended Summer SMASH

They also told us that they enjoyed the activities, trying new things and valued the interactions with trusted adults. One child said their favourite thing about SMASH was “that all the staff care about us.”

“It’s one less thing for me to worry about. I just didn’t know what I would do and where I would find the money to buy school shoes. Thank you. You have all been so kind.”

“If there is a choice between going home or staying at SMASH – I choose to stay at SMASH.”

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Level Trust Trustees’ Report and Accounts

7. Fundraising and marketing

We are incredibly grateful to all our donors, funders and partners, without whom we would have been unable to support all our children and families this year. Their commitment to us, responsiveness and flexibility has helped get us through this difficult year. We raise funding through applications to grant making bodies, building relationships with individual donors, working with corporate partners and through community campaigns. We are regularly featured in good news stories in the local and national press and this year took part in several TV pieces for local news and interviews for radio channels.

8. Financial review

The financial statements show a net deficit for the year of £15,200. The previous year we had a deficit of £12,600. The principal reason for an overall deficit for the year 2023 was Level Trust spending restricted funds on projects such as the Uniform Exchange and SMASH.

9. Reserves policy

The charity had unrestricted reserves at 31st August 2023 of £131,299. The reserves represent five months expenditure on charitable activities. It is the policy of the charity to hold no less than three months reserves, although our aim is to hold six. Restricted funds are held by the charity for only as long as is necessary to organise the relevant programmes. Normally these funds are spent within twelve months of receipt.

10. Post balance sheet events

No matters or circumstances have arisen since the end of the financial period which significantly affected or may significantly affect the operations of the charity, the results of these operations or the state of affairs of the Charity in the financial year subsequent to the financial period ended 31st August 2023.

During the year, the charity generated income of £318,278. Of this income, £181,454 was raised for specific programmes. Expenditure totalled £333,478 for the year, of which £331,754 was spent on specific programmes. Our income this year was £49,183 more than the year before.

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Level Trust Trustees’ Report and Accounts

11. Future plans

Despite the challenges the cost of living crisis and increased inflation rates brought last year, the Level Trust team has worked cohesively both internally and with our partners across the town and beyond to meet the increased demand for all of our services. We worked with over two thousand more children this year than in the same period of 2021–22.

Our plans for the following year include:

Our partnership work with Laptops4Learning has continued to enable us to give hundreds of digital devices to Luton schoolchildren to support them with their studies and to help to level the educational playing field.

We have a dedicated and talented staff body, and this will enable us to adapt to the ever-increasing demand for our services.

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Level Trust Trustees’ Report and Accounts

12. Statement of trustees’ responsibilities

Charity law requires the trustees to prepare the financial statements for each financial year which show a true and fair view of the state of affairs of the charity and its financial activities for that year. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities 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.

13. Independent examiner

We are very grateful to Jason Foxwell FCCA FCIE who has undertaken our Independent Examination this year.

14. Trustees’ report signed on behalf of the trustees:

Mr Altaf Hussain, Chair

Date: 7th June, 2024

Mr Christopher Curtis, Chair of Strategy & Finance Committee

Date: 7th June, 2024

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Level Trust Trustees’ Report and Accounts

Partners & Funders

We want to extend a huge thank you to all our project partners, schools and funders without whom, our work would not be possible. We are very grateful for your time, money, venues, vehicles, skills and ideas.

16. Partners

Partnership is key to how Level Trust works. Our partners refer children to our work, and share their skills, experience and resources. The expertise that they share makes our work possible. This year we worked with children from every local authority or academy school in Luton and with one independent school. Thank you to our delivery partners for your advice, support and generosity:

15. Main funders

Adventures Into

Thank you to all those who make our work possible. Our main funders and supporters for 2022–23 were:

The Amateurs Trust

BLCF Community Investment Fund Brown Dog Trust The Connolly Foundation

easyJet

Energise Luton Garfield Weston Foundation John Apthorp Charity Mrs B L Robinson Charitable Trust National Lottery Community Fund Postcode Places Trust The Steel Charitable Trust St Mary’s Church, Redbourn Swire Charitable Trust Wixamtree Trust The generous donors of Luton and Bedfordshire

Caritas-Diocese of Northampton Citizens Advice Boxing Saves Lives Dan The Skipping Man Discover Islam Laptops4Learning NGYT NOAH Enterprise Hygiene Bank KidsOut

Luton Foodbank Luton Council Education Service Luton Council Refugee Service Salvation Army Stepping Stones University of Bedfordshire Access Partnership Team

Wholehearted Childhood Charity Youthscape

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Level Trust Trustees’ Report and Accounts

Financial Report Level Trust Trustees. Report and Ateounts 15

Accounts

17. Management accounts

Level Trust Statement of Financial Activities for the year ended 31 August 2023

16

Level Trust Trustees’ Report and Accounts

Level Trust – Statement of Financial Activities for the year ended 31 August 2023

Fund Name
Unrestricted funds
£
Restricted funds
£
2023
Total funds
£		 Fund Name
Unrestricted funds
£
Restricted funds
£
2023
Total funds
£		 2022
Prior year funds
£
Incoming Resources
Unrestricted Income
Grants and Trusts
Fundraising Events
Other Fundraising
Regular Donors
Gif Aid
Bank Interest
Corporate Partners
Resources expended
Rent
Rates and Utilities
Learn at Home Packs
Conference Costs
School Uniform
Laundry
Equipment
Project Costs
Shoes
Coats
Wages and salaries
Employer’s NI
Pensions
Advertising & Marketing
Accountancy fees
Networking
Bank Fees
Cleaning
Recruitment costs
Premises Maintenance
Postage, Freight & Courier
Ofce Refreshments
Management Meetings
General Expenses
Volunteer Expenses
Insurance
Consultancy
Printing & Stationery
IT Sofware and Consumables
Website Design
Amortisation of Intangibles
Depreciation
Volunteer Training
Staf Training
Governance
Subscriptions
Telephone & Internet
Staf Travel
Volunteer Travel
Fundraising Expenses
Surplus/(Defcit) of Income over Expenditure
Fund balance b/f
Balance before transfer
Transfer from Unrestricted
Balance afer transfer		 9,518
18,126
27,644
112,627
148,484
261,111
-
-
-
2,969
10,000
12,969
6,160
-
6,160
4,859
-
4,859
686
-
686
5
4,844
4,849
136,824
181,454
318,278
-
12,233
12,233
-
7,624
7,624
-
-
-
-
-
-
719
12,201
12,920
-
-
-
-
-
-
147
53,217
53,364
-
18,018
18,018
-
-
-
-
146,923
146,923
-
5,077
5,077
-
1,811
1,811
-
8,554
8,554
-
10,214
10,214
-
34
34
6
523
529
-
809
809
-
5
5
-
3,099
3,099
-
20
20
10
291
301
-
-
-
142
466
608
40
434
474
-
1,582
1,582
-
11,318
11,318
27
661
688
387
2,360
2,747
-
791
791
-
4,860
4,860
-
389
389
-
-
-
-
1,884
1,884
-
-
-
86
2,039
2,125
36
1,391
1,427
46
1,114
1,160
-
-
-
78
21,812
21,890
1,724
331,754
333,478
135,100
(150,300)
(15,200)
126,199
95,871
222,070
261,299
(54,429)
206,870
(130,000)
130,000
-
131,299
75,571
206,870		 21,741
147,647
-
64,503
8,272
68
53
26,811
269,095
13,678
5,609
-
-
5,851
477
1,842
68,749
6,046
374
119,696
3,799
1,623
14,395
3,738
150
120
763
489
9,170
173
28
142
127
-
1,650
-
1,620
1,130
-
4,860
153
-
4,694
1,619
-
1,580
511
114
6,758
281,728
(12,633)
234,703
222,070
-
222,070

17

Level Trust Trustees’ Report and Accounts

Accounts

18. Statement of financial activities

Level Trust Detailed Statement of Financial Activities for the year ended 31 August 2023

18

Level Trust Trustees’ Report and Accounts

Level Trust – Detailed Statement of Financial Activities for the year ended 31 August 2023

Fund Name Beds
Learning
Fund
Level
Up
Over-
heads
Shops
SMASH
Building
Fund
Un-
restricted
2023
£		 2022
£
Incoming Resources
Unrestricted Income
Grants and Trusts
Fundraising Events
Other Fundraising
Regular Donors
Gif Aid
Bank Interest
Corporate Partners
Spare
Resources expended
Rent
Rates and Utilities
School Uniform
Laundry
Equipment
Project Costs
Shoes
Coats
Wages and salaries
Employer’s NI
Pensions
Advertising & Marketing
Accountancy fees
Networking
Bank Fees
Cleaning
Recruitment costs
Premises Maintenance
Postage, Freight & Courier
Ofce Refreshments
Management Meetings
General Expenses
Volunteer Expenses
Insurance
Consultancy
Printing & Stationery
IT Sofware and Consumables
Website Design
Amortisation of Intangibles
Depreciation
Volunteer Training
Staf Training
Governance
Subscriptions
Telephone & Internet
Staf Travel
Volunteer Travel
Fundraising Expenses
Surplus/(Defcit) of Income
over Expenditure
Fund balance b/f
Balance before transfer
Transfer from Unassigned
Balance afer transfer		 -
-
18,126
-
-
-
9,518
27,644
19,270
-
31,500
37,500
60,214
-
112,627
261,111
-
-
-
-
-
-
-
-
-
-
10,000
-
-
-
2,969
12,969
-
-
-
-
-
-
6,160
6,160
-
-
-
-
-
-
4,859
4,859
-
-
-
-
-
-
686
686
-
-
4,844
-
-
-
5
4,849
-
-
-
-
-
-
-
-
19,270
-
64,470
37,500
60,214
-
136,824
318,278
-
-
4,925
7,308
-
-
-
12,233
-
-
3,198
4,426
-
-
-
7,624
-
-
-
12,201
-
-
719
12,920
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
22,902
-
579
513
29,223
-
147
53,364
-
-
-
18,018
-
-
-
18,018
-
-
-
-
-
-
-
-
-
4,588
33,313
42,553
66,469
-
-
146,923
-
180
2,115
1,092
1,690
-
-
5,077
-
65
882
551
313
-
-
1,811
-
-
8,515
39
-
-
-
8,554
-
-
10,179
35
-
-
-
10,214
-
-
34
-
-
-
-
34
-
-
523
-
-
-
6
529
-
-
-
809
-
-
-
809
-
-
5
-
-
-
-
5
-
-
164
2,935
-
-
-
3,099
-
-
9
-
11
-
-
20
-
-
291
-
-
-
10
301
-
-
-
-
-
-
-
-
-
-
466
-
-
-
142
608
-
-
358
-
76
-
40
474
-
-
537
1,045
-
-
-
1,582
-
-
10,857
461
-
-
-
11,318
-
-
520
141
-
-
27
688
-
-
2,360
-
-
-
387
2,747
-
-
461
-
330
-
-
791
-
-
-
4,860
-
-
-
4,860
-
-
-
389
-
-
-
389
-
-
-
-
-
-
-
-
-
-
1,884
-
-
-
-
1,884
-
-
-
-
-
-
-
-
-
-
2,039
-
-
-
86
2,125
-
-
330
813
248
-
36
1,427
-
-
765
214
135
-
46
1,160
-
-
-
-
-
-
-
-
-
-
21,812
-
-
-
78
21,890
22,902
4,833
107,121
98,403
98,495
-
1,724
333,478
(3,632)
(4,833)
(42,651)
(60,903)
(38,281)
-
135,100
(15,200)
11,228
4,833
13,669
20,124
46,017
-
126,199
222,070
7,596
-
(28,982)
(40,779)
7,736
-
261,299
206,870
-
-
35,000
45,000
-
50,000
(130,000)
-		 21,741
147,647
-
64,503
8,272
68
53
26,811
-
269,095
13,678
5,609
5,851
477
1,842
68,749
6,046
374
119,696
3,799
1,623
14,395
3,738
150
120
763
489
9,170
173
28
142
127
-
1,650
-
1,620
1,130
-
4,860
153
-
4,694
1,619
-
1,580
511
114
6,758
281,728
(12,633)
230,781
218,148
-
7,596
-
6,018
4,221
7,736
50,000
131,299
206,870		 218,148

19

Level Trust Trustees’ Report and Accounts

Accounts

Level Trust Registered number: 1178223 Balance Sheet as at 31 August 2023

19. Balance sheet

19. Balance sheet
Notes Unrestricted
funds
£		 Restricted
funds
£		 2023
Total
£		 2022
Total
£
Fixed assets
Intangible assets
3
Tangible assets
4		 11,579
625		 -
-		 11,579
625		 5,939
1,014
Current assets
Debtors
5
Cash at bank and in hand		 12,204
31,677
101,798		 -
-
75,571		 12,204
31,677
177,369		 6,953
1,582
220,586
Creditors: amounts
falling due within one year
6
Net current assets		 133,475
(14,380)
119,095		 75,571
-
75,571		 209,046
(14,380)
194,666		 222,168
(7,051)
215,117
Funds of the Charity
Restricted funds
Unrestricted funds
Net assets		 -
131,299
131,299		 75,571
-
75,571		 75,571
131,299
206,870		 222,070
95,871
126,199
Total Funds 131,299 75,571 206,870 222,070

20. Signed on behalf of the trustees

Signature: Print Name: Date of approval: Mr Altaf Hussain 7th June, 2024 Signature: Print Name: Date of approval: Mr Christopher Curtis 7th June, 2024

20

Level Trust Trustees’ Report and Accounts

Notes to the Accounts

Level Trust

Notes to the Accounts

for the year ended 31 August 2023

21. Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011.There have been no changes of accounting policy, changes to accounting estimates or material prior year errors.

Recognition of income

Income is included in the Statement of Financial Activities (SoFA) when

Grants and donations are only included in the SoFA when the general income recognition criteria are met. In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

Tax reclaims on donations and gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Support costs

The charity has incurred expenditure on support costs.

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

Interest income

This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

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Level Trust Trustees’ Report and Accounts

Governance and support costs

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

22. Employee costs

2023 2022
Salaries and wages
119,696		 88,569
Social security costs
3,799		 21,260
Pension costs
(defned contribution
scheme)
1,623		 3,156
125,118 112,985

No employees received employee benefits for the reporting period of more than £60,000.

Intangible fixed assets

Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

Pension contributions are allocated to activities or

overheads, on the basis of which activity the employee works on.

These are capitalised if they can be used for more than one year, and cost at least £1,000.

These are capitalised if they can be used for more than
works on.
one year, and cost at least £1,000.
Website development
over 3 years
Debtors
Charitable activities
Average number of
persons employed by
the charity
8
8
Number		 Number
8
8

Debtors (including trade debtors, prepayments and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

Pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

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Level Trust Trustees’ Report and Accounts

  1. Intangible fixed assets

Website development costs £

Cost
At 1 September 2022
Additions
Disposals
At 31 August 2023		 14,580
10,500
-
25,080
Amortisation
At 1 September 2022
Provided during the year
On disposals
At 31 August 2023		 8,641
4,860
-
13,501
Net book value
At 31 August 2023
At 31 August 2022
11,579
5,939

Website development costs are being written off in equal annual instalments over its estimated economic life of 3 years.

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Level Trust Trustees’ Report and Accounts

  1. Tangible fixed assets

Office Equipment £

Cost
At 1 September 2022
At 31 August 2023
1,167
1,167
Depreciation
At 1 September 2022
Charge for the year
At 31 August 2023		 153
389
542
Net book value
At 31 August 2023
At 31 August 2022
25. Debtors
2023
£
625
1,014
2022
£
Other debtors
31,677		 1,582
26. Creditors: amounts falling due within one year 2023
£		 2022
£
Trade creditors
Taxation and social security costs		 10,451
3,929
14,380		 7,051
-
7,051

24

Level Trust Trustees’ Report and Accounts

27. Charity funds

Fund Name b/f
01/09/2022
£		 Income
£		 Expenditure
£		 Transfers
£		 c/f
31/08/2023
£
Beds Learning Fund
Level Up
Overheads
Shops
SMASH
Building Fund
Unrestricted		 11,228
4,833
13,669
20,124
46,017
-
126,199		 19,270
-
64,470
37,500
60,214
-
136,824		 (22,902)
(4,833)
(107,121)
(98,403)
(98,495)
-
(1,724)		 -
-
35,000
45,000
-
50,000
(130,000)		 7,596
-
6,018
4,221
7,736
50,000
131,299
Fund Name 222,070
b/f
01/09/2021
£		 318,278
Income
£		 (333,478)
Expenditure
£		 -
Transfers
£		 206,870
c/f
31/08/2022
£
Beds Learning Fund
Level Up
Overheads
Shops
SMASH
Unrestricted		 36,253
-
32,186
81,910
(2,340)
86,694		 13,387
1,263
58,592
33,624
101,039
61,190		 (38,412)
(6,430)
(87,109)
(95,410)
(52,682)
(1,685)		 -
10,000
10,000
-
-
(20,000)		 11,228
4,833
13,669
20,124
46,017
126,199
234,703 269,095 (281,728) - 222,070
Fund Name Type Purpose
Beds Learning fund Restricted Learning resources, equipment, clothing and opportunities
Level Up Restricted Learn at Home Packs, Coats and Shoes
Overheads Restricted Overheads
Shops Restricted Providing Uniforms and Resources
SMASH Restricted School Holiday Learning Programmes
Building Fund Designated Funds to identify, refurbish and move into charity premises
Unrestricted Unrestricted No Restrictions

Transfers from unrestricted funds to restricted funds are made to fund specific projects where restricted funds raised are not sufficient to cover the project costs.

25

Level Trust Trustees’ Report and Accounts

Independent Examiner’s Report

Independent examiner’s report to the trustees of Level Trust

I report to the trustees on my examination of the accounts of Level Trust (the charity) for the year ended 31 August 2022.

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

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable

I report in respect of my examination of the charity’s

requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

CONTENT TBC

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 ACCA and ACIE, both of which are listed bodies.

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 accounts to be reached.

Mr J P Foxwell FCCA FCIE

independent-examiner.net

39 Enfield Road, Poole, BH15 3LJ

Date: 7th June, 2024

26

Level Trust Trustees’ Report and Accounts

leveltrust.org

Level Trust registered charity 1178223