## **LEARNING SKILLS TRUST** ## **SURPLUS AND DEFICIT ACCOUNT** ## **31 August 2024** |Notes
**TURNOVER**
Cost of Sales
**GROSS PROFIT**
Administrative Expenses
**OPERATING (LOSS)/PROFIT**
2
Interest Receivable and
similar income
Interest payable and
similar charges
**PROFIT/(LOSS) ON ORDINARY ACTIVITIES**
**BEFORE TAXATION**
Tax on profit on ordinary
3
activities
**PROFIT/(LOSS) FOR THE FINANCIAL YEAR**
**AFTER TAXATION**
Retained profit brought forward
Distributions
**RETAINED PROFIT CARRIED FORWARD**|**Actual 2024**
**£**
171,779
78,048
93,731
84,674
9,057
1,549
0
10,606
0
10,606
32,615
0
43,221|**2023**| |---|---|---| |||**£**
149,224
74,358| |||74,866
72,412| |||2,454
111
0| |||2,565
0| |||2,565
30,050
0| |||32,615| These notes form part of the financial statements Page 3 ## **LEARNING SKILLS TRUST** ## **BALANCE SHEET** ## **31 August 2024** |Notes
**FIXED ASSETS:**
Tangible assets
4
**CURRENT ASSETS:**
Stocks
Debtors
5
Cash at bank and in hand
**CREDITORS:**Amounts falling
due within one year
6
due after one year
7
**NET CURRENT (LIABILITIES)/ASSETS:**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES:**
**PROVISION FOR LIABILITIES**
**AND CHARGES:**
**CAPITAL AND RESERVES:**
Profit and loss account
8
Shares
9
**SHAREHOLDERS' FUNDS:**|**£**
0
0
55,624| |---|---| The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024 No notice has been deposited under Section 476 of the Companies Act 2006 in relation to its financial statements for the financial year. The directors acknowledge their responsibility for: (a) ensuring that the directors keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. These financial statements have been prepared in accordance with the special provisions of part XV of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015). ## **ON BEHALF OF THE BOARD:** Mr Paul Brewster Chairman of Trustees Approved by the Board on 21st December 2024 These notes form part of the financial statements Page 4 ## **LEARNING SKILLS TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS 31 August 2024** ## **3 TAXATION** The tax (credit)/charge on the loss on ordinary activities for the year was as follows: |UK Corporation Tax/(refund)
Corporation Tax over provision
Deferred Taxaton
UK Corporation Tax has been charged at 19/25%
**4**
**TANGIBLE FIXED ASSETS**
**Plant and**
**Computer**
**Furniture**
**machinery equipment**
**& fixtures**
**£**
**£**
**£**
COST
1 September 2023
0
2,074
0
Additions
31 August 2024
0
2,074
0
**DEPRECIATION**
**33% RB**
1 September 2023
0
1,502
0
Charge for the year
0
191
0
31 August 2024
0
1,692
0
**NET BOOK VALUE**
31 August 2024
0
382
0
1 September 2023
0
572
0|UK Corporation Tax/(refund)
Corporation Tax over provision
Deferred Taxaton
UK Corporation Tax has been charged at 19/25%
**4**
**TANGIBLE FIXED ASSETS**
**Plant and**
**Computer**
**Furniture**
**machinery equipment**
**& fixtures**
**£**
**£**
**£**
COST
1 September 2023
0
2,074
0
Additions
31 August 2024
0
2,074
0
**DEPRECIATION**
**33% RB**
1 September 2023
0
1,502
0
Charge for the year
0
191
0
31 August 2024
0
1,692
0
**NET BOOK VALUE**
31 August 2024
0
382
0
1 September 2023
0
572
0|**Actual 2024**
**2023**
**£**
**£**
0
0
0
0
0
0| |---|---|---| |||0
0| |||**Motor**
**vehicles**
**Totals**
**£**
**£**
0
2,074
0| ||0
2,074
0|0
2,074| ||**33% RB**
0
1,502
0
0
191
0|0
1,502
0
191| ||0
1,692
0|0
1,692| ||0
382
0|0
382| ||0
572
0|0
572| ## **5 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |**DEBTORS: AMOUNTS FALLING**
**DUE WITHIN ONE YEAR**|| |---|---| |Trade Debtors
VAT; debtor
Prepayments|**Actual 2024**
**2023**
**£**
**£**
0
0
0
0
0
0| ||0
0| Page 6 ## **LEARNING SKILLS TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS 31 August 2024** |**6**
**CREDITORS: AMOUNTS FALLING**
**DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
Creditors VAT
Creditors PAYE
Creditors NI
Creditors Corporation Tax
Accruals/Prepayment
**7**
**CREDITORS: AMOUNTS FALLING**
**DUE AFTER ONE YEAR**
Trustee loan accounts
**8**
**SURPLUS AND DEFICIT ACCOUNT**
Profit and loss account b/f
Dividends
Profit for the year
Profit carried forward
**9**
**CAPITAL & RESERVES**
Trustee loans
**10**
**AVERAGE NUMBER OF EMPLOYEES**
**11**
**CONTROL**|**Actual 2024**
**2023**
**£**
**£**
(2,030)
(2,400)
0
0
0
0
(1,446)
0
(316)
0
0
0
(8,993)
(8,993)| |---|---| ||(12,785)
(11,393)| ||**Actual 2024**
**2023**
**£**
**£**
0
0| ||0
0| ||**Actual 2024**
**2023**
**£**
**£**
32,615
30,050
0
0
10,606
2,565| ||43,221
32,615| ||**Actual 2024**
**2023**
**£**
**£**
0
0| ||0
0| ||**Actual 2024**
**2023**
1
1| The trust is controlled by the trustees listed above. Page 7 ## **LEARNING SKILLS TRUST** ## **TRADING AND PROFIT AND LOSS ACCOUNT 31 August 2024** |1
**INCOME**
Sales
Other income & grants
2
**COST OF SALES**
Opening work in progress
Direct Costs/purchases
Equipment & tools
Sub-contract costs
Less:
Closing work in progress
**GROSS PROFIT**
3
**ADMINISTRATIVE EXPENSES**
Trustees' remuneration
Employee costs
Motor expenses
Travel & subsistance
Vehicle lease purchase
Premises costs
Repairs and renewals
General administrative expenses
Training & recruitment costs
Advertising & promotion
Other financial charges
Accountancy, legal & professional fees
Bad debts
Depreciation plant & machinery
Depreciation office equipment
Depreciation furniture & fixtures
Depreciation motor vehicles
Other expenses
**OPERATING PROFIT**
6
**FINANCE INCOME**
Bank account interest
7
**FINANCE COSTS**
Bank interest
**NET PROFIT/(LOSS)**|**Actual 2024**
**£**
166,759
5,020
171,779
0
7,676
0
70,372
78,048
0
78,048
93,731
0
36,004
0
21,124
0
0
858
12,105
0
9,768
4
4,620
0
0
191
0
0
0
84,674
9,057
1,549
0
10,606|**2023**
**£**
128,566
20,658| |---|---|---| |||149,224
0
7,000
0
67,358| |||74,358| |||74,358| |||74,866| |||0
33,241
0
19,727
0
0
0
2,052
0
10,550
7
6,553
0
0
282
0
0
0| |||72,412| |||2,454| |||111
0| |||2,565| This page does not form part of the statutory financial statements Page 10 ## **THE LEARNING SKILLS TRUST** # **CHARITY NUMBER:** **1202498 (ENGLAND AND WALES)** **COMPANY REGISTRATION NUMBER:** **CE031826(ENGLAND AND WALES)** **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS** **PERIOD OF ACCOUNTS** **START DATE: 1[ST] SEPTEMBER 2023** **END DATE: 31[ST] AUGUST 2024** ## **THE LEARNING SKILLS TRUST** ## **CONTENTS OF THE FINANCIAL STATEMENTS for the Period Ended 31 August 2024** ||**Page**| |---|---| |**Trust Information**|**1**| |**Report of the Trustees**|**2**| |**Surplus and Deficit Account**|**3**| |**Balance Sheet**|**4**| |**Notes to the Financial Statements**|**5**| |**The following pages do not form part of the**|| |**Statutory financial statements:**|| |**Independent Accountants’ Report**|**8**| |**Detailed Financial Statement**
|**9**| ## **THE LEARNING SKILLS TRUST** ## **TRUST INFORMATION for the Period Ended 31 August 2024** ## **TRUSTEES:** **TRUSTEES:** Emma McKendrick John Davies Eric Smart Andrew Gist Paul Brewster Mark Richards Peter Wells Robert Williams Victoria Bagnall Christopher Stevens Julia Harrington **TRADING ADDRESS:** Long Meadow Berwick St James Salisbury Wiltshire SP3 4TQ **CHARITY NUMBER:** 1202498 (England and Wales) **ACCOUNTANTS:** Smart Accountants Ltd Office 3 South Staffs Freight Terminal Lynn Lane Shenstone WS14 0ED Page 1 ## **THE LEARNING SKILLS TRUST** ## **REPORT OF THE TRUSTEES for the Period Ended 31 August 2024** The trustees present their report with the financial statements of the trust for the period ended 31[st] August 2024. ## **PRINCIPAL ACTIVITIES** The principal activity of the trust in the period under review was: Education and training. ## **TRUSTEES** ## **The trustees below have held office during the period under review:** Emma McKendrick John Davies Eric Smart Andrew Gist Paul Brewster Mark Richards Peter Wells Robert Williams Victoria Bagnall Christopher Stevens Julia Harrington Trustees were appointed to the trust during the period: No trustee resigned during the period. ## **Political and charitable donations** No charitable donations were made during the year. No contributions to political organisations were made during the year. The above report has been prepared in accordance with the provisions in Part XV of the Companies Act 2006 relating to small companies. ## **This report was approved by the board of trustees on:** 21[st] November 2024 Paul Brewster TRUSTEE Page 2 ## **THE LEARNING SKILLS TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS for the Period Ended 31[st] August 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of measurement and preparation of accounts** The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). ## **Turnover policy** The turnover shown in the surplus and deficit account represents revenue earned during the period, excluding VAT. ## **Tangible fixed assets depreciation policy** Depreciation is provided at the following annual rates in order to write of each asset over its estimated useful life. Computer equipment - 33% on cost ## **Valuation information and information policy** Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. ## **Other accounting policies** Assets obtained under hp or leases are capitalised in the balance sheet and depreciated over their useful lives or lease term, whichever is shorter. The interest element is charged to the profit and loss account over the period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account as incurred. Research and development expenditure is written off in the period in which it is incurred. ## **2. OPERATING SURPLUS/(DEFICIT)** The operating surplus and deficit is stated after charging: **2024** 2023 **£** £ Depreciation - owned assets 191 282 Trustees' emoluments and other benefits etc **0** 0 Page 5 ## **THE LEARNING SKILLS TRUST** ## **INDEPENDENT ACCOUNTANTS’ REPORT TO THE TRUSTEES OF THE PRE-SENIOR BACCALAUREATE TRUST ON THE UNAUDITED ACCOUNTS** To the trustees: As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31[st] August 2024 set out on pages three to eight and you consider that the company is exempt from an audit. In accordance with your instructions, we have compiled these un-audited financial statements, in order to assist you to fulfil your statutory responsibilities. These unaudited financial statements have been compiled from the accounting records, information and explanations supplied to us. Our report has been prepared in accordance with the terms outlined above and for no other purpose. No person is entitled to rely on this report other than the trustees of The Learning Skills Trust or any other person expressly authorised to do so by our prior written consent. Save as above, we do not accept responsibility for this report to any other person or for any other purpose and we hereby disclaim any and all such liability. You have approved the financial information and have acknowledged your responsibility for it, for the appropriateness of the accounting basis and for providing all information and explanations necessary for its completion. We have not verified the accuracy or completeness of the accounting records or information and explanations you have given us and we do not therefore express any opinion on the financial information. Smart Accountants Limited Office 3 South Staffs Freight Terminal Lynn Lane Shenstone WS14 0ED Dated: 22[nd] November 2024 This page does not form part of the statutory financial statements Page 8 # **DETAILED SURPLUS AND DEFICIT ACCOUNT FOR THE YEAR ENDED 31[st] August 2023** ## **FOR** ## **THE LEARNING SKILLS TRUST** Page 9