2021-03-31-accounts

Lindley Educational Trust Limited Financial statements For the year ended 31 March 2021

Charity no 247662 Company no 00867065

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Lindley Educational Trust Limited Financial statements for the year ended 31 March 2021

Company information

LEGAL AND ADMINISTRATIVE DETAILS

A Charitable Company Limited by Guarantee

Company registration number:

Charity registration number:

Registered office:

Trustees and Directors:

Senior Management Team:

Bankers:

Auditor:

00867065

247662

Hollowford Centre Castleton HOPE VALLEY $33 8WB

Mr D W Butterfield Mr R A Hall Mr P D Jones MrJ Price (Chairman) MrJ M Reynolds Mr D Henderson Mr T Soar Mrs KJones

Mr A Robinson Mr M Williams Mr P Booker Mrs B Egan

Barclays Bank plc. Market Place Town Centre LEICESTER LE87 2BB

Hawsons Chartered Accountants Statutory Auditor Pegasus House 463a Glossop Road SHEFFIELD $10 2QD

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Lindley Educational Trust Limited Financial statements for the year ended 31 March 2021

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Index to the financial statements

Report of the trustees 1-8

Independent auditor's report

9-11

Statement of financial activities (incorporating the income and expenditure account) 12

Balance sheet

13

Statement of cash flows

14

Notes to the financial statements

15— 24

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Lindley Educational Trust Limited

1

Financial statements for the year ended 31 March 2021

The trustees (who are also the directors of the charitable company) present their report together with financial statements for the year ended 31 March 2021.

Reference and Administrative Details

The present membership of the board is listed in the Legal and Administrative details.

Structure, Governance and Management

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 20 December 1965 and registered as a charity on 20 April 1966. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and Appointment of Trustees

The directors of the company are also the charity trustees. Trustees are appointed taking into account the skills requirement of the board.

Trustee Induction and Training

The trustees have a wide variety of skills and positive steps are being taken to explore and utilise these. The trustees are briefed by the Chair and Chief Executive to ensure they are familiar with the practical work of the organisation, and are encouraged to visit the Hollowford Centre to observe the young people's activities and programmes that take place throughout the year. Open days are also organised on an occasional basis, and trustees are encouraged to attend these. "The Good Trustees Guide" is also given to new trustees and they are encouraged to question and test all elements of the Trust’s approach to governance.

Risk Management

The trustees continue to monitor the risks facing the business, both commercial and operational, with a view to ensuring that systems are in place to mitigate risk on an on-going basis. In view of the Trust's work with young people, its use of outdoor training and the location of the centre in the Peak District National Park, particular attention is given to monitor risks associated with health, safety and the environment, and to ensure that the Trust sets and maintains standards of excellence in these areas.

Organisational Structure

The Trust’s full board of trustees is complemented by a Finance sub-committee made up of 3 trustees, Chief Executive and Business Manager. Both the board and sub-committee meet at least 3 times per year though may meet more frequently during periods of greater need.

The board monitors and sets the strategic direction and policy with the Chief Executive. The agreed strategy is delivered through the Chief Executive working with a senior management team comprising of the Head of Centres, Operations Manager and Business Manager. Wider members of the Trust’s staff team are invited to Trustee Board meetings to provide additional insight and accountability.

The Finance sub-committee reports to the board providing initial governance and making recommendations relating to operational sustainability, annual budgeting, annual report and accounts.

Related Parties

During the year the Trust’s Chief Executive was also the Chief Executive of the Institute for Outdoor Learning (IOL). The organisation is a member of IOL Employers Group, which is a group of organisations who are involved in providing "experiential learning" to young people. The Employers Group has an independent chair and is comprised of senior staff from each member organisation.

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Lindley Educational Trust Limited

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Financial statements for the year ended 31 March 2021

Report of the trustees

Related Parties (continued)

The Head of Centres is a member of AHOEC (Association of Heads of Outdoor Education Centres) Executive, this is a national network with over 250 members.

Lindley also partners from time to time with other charitable organisations involved in work with vulnerable young people, using memorandums of understanding to guide the partner working.

Objectives and Activities

• " The Lindley Educational Trust Limited is a charitable organisation driven by its Christian values.

• = The Trust’s mission is to release and empower people to develop their individual strengths, create positive relationships and construct effective work systems and cultures, which add to the wellbeing of society.

• The Trust specialises in the development of young people by assisting them to reach their full potential while at school, in the transition from school to work and in the early years of their working life.

• . The Trust places a strong emphasis on experiential learning through the use of outdoor activities as well as other methods and learning mediums.

• . One of the key charitable focus areas of the Trust is to identify and develop interventions that benefit the most vulnerable young people. This results in:

• ® Providing long term support to groups working with vulnerable young people, including youth groups and youth inclusion teams.

• . Providing residential opportunities for families that include vulnerable young people to engage in outdoor activities together, strengthening relationships and building commitment to future developmental activity.

• " Building the capability within disadvantaged communities to provide inspiring and engaging youth interventions through the development of young leaders leading to role models for future generations.

• " Establishing partnerships with corporate clients that incorporate an element of corporate and social responsibility into their management development programmes that sees them helping and engaging with disadvantaged young people.

• 2 The Trust works to actively include young people with disabilities, those from disadvantaged/deprived backgrounds and from ethnic minorities.

• = Recognising the limitation of provision of direct services to young people, the Trust also uses its resources and expertise to support the development of those practitioners who themselves work with young people.

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Lindley Educational Trust Limited Financial statements for the year ended 31 March 2021

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Report of the trustees

Achievements and Performance

Impact of Covid-19

During 2020/21 Lindley’s work was substantially impacted by the Covid-19 pandemic. The UK Government's restrictions severely restricted use of the Trust’s conventional models for engaging and benefiting young people.

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The Department for Education’s guidance against
residentialschools duringschoolthevisitsyear resultedand no residentialin very littleschoolworkvisitswith a. eal
hosted at the Hollowford centre. The Government igi ;
restrictions and the perceived risks associated with | al od .
residential training provision also led to the majority of * .
employer, training company and university clients aij i eo ‘Aik
cancelling or postponing planned programmes. The (% fs
main areas of service the Trust was able to remain ,
active in were the Youth & Community projects in
Ashton-u-Lyne, Greater Manchester and Pitsmoor, '
Sheffield.
A small number of employer employer and university clients engaged in the re-design of programmes programmes to ensure that some of
the historic benefits of working working with Lindley were still available to their young people. This resulted in the running
of day day based and single night residential programmes on the client’s own premises. This represented less than 10%
of the 2019/20 levels of delivery delivery for this beneficiary group.
The UK government funded National Citizen's Service was also severely impacted by the pandemic with planned
summer 2020 residential programmes cancelled. The Trust was able to support some limited non-residential
outdoor activity provision for NCS NCS during the year.
The Trust’s long-standing client relationships resulted in particularly supportive dialogue about deposit monies held
and options for managing cancellations. Many clients were able to reschedule dates or claim the loss of deposits deposits
through their insurance in line with the Trust’s terms and conditions.
The Trust’s excellent reputation and long-standing client relationships are a direct product of the the quality of its staff
team across all functions. Maintaining and growing this staff team team during the pandemic became unsustainable for
the Trust. Careful use of the UK the UK UK Government’s CoronavirusJob RetentionJob Retention Scheme enabled the Trust to minimise
the number of redundancies redundancies it was forced to make make during the year.
Reaching vulnerable vulnerable young people and communities during Covid-19
With established youth groups and a trusted partner role in the urban communities in which the Trust Trust works, the
Youth & & Community team were able to change their focus during the year to reflect the impact of the the pandemic.
The team’s developmental activity provision was replaced by supporting local law enforcement, engaging with
people not following pandemic pandemic guidelines and working health professionals to provide advice. The team also
a key role in combatting mis-information amongst the communities that had no meaningful tradition of responding responding
to guidance from national government.
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people, especially during periods of during periods of periods of of lock down. The down. The The . \ a f
Trust’s team moved meetings on-line to provide Sh >,
support and as lock down measures eased, delivered and as lock down measures eased, delivered as lock down measures eased, delivered lock down measures eased, delivered down measures eased, delivered measures eased, delivered eased, delivered my St ceo
outdoor activities in the immediate locality within the fa i (>
prevailing government government constraints.
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A small number of employer employer and university clients engaged in the re-design of programmes programmes to ensure that some of the historic benefits of working working with Lindley were still available to their young people. This resulted in the running of day day based and single night residential programmes on the client’s own premises. This represented less than 10% of the 2019/20 levels of delivery delivery for this beneficiary group.

The UK government funded National Citizen's Service was also severely impacted by the pandemic with planned summer 2020 residential programmes cancelled. The Trust was able to support some limited non-residential outdoor activity provision for NCS NCS during the year.

The Trust’s long-standing client relationships resulted in particularly supportive dialogue about deposit monies held and options for managing cancellations. Many clients were able to reschedule dates or claim the loss of deposits deposits through their insurance in line with the Trust’s terms and conditions.

The Trust’s excellent reputation and long-standing client relationships are a direct product of the the quality of its staff team across all functions. Maintaining and growing this staff team team during the pandemic became unsustainable for the Trust. Careful use of the UK the UK UK Government’s CoronavirusJob RetentionJob Retention Scheme enabled the Trust to minimise the number of redundancies redundancies it was forced to make make during the year.

Reaching vulnerable vulnerable young people and communities during Covid-19

With established youth groups and a trusted partner role in the urban communities in which the Trust Trust works, the Youth & & Community team were able to change their focus during the year to reflect the impact of the the pandemic. The team’s developmental activity provision was replaced by supporting local law enforcement, engaging with young people not following pandemic pandemic guidelines and working health professionals to provide advice. The team also played a key role in combatting mis-information amongst the communities that had no meaningful tradition of responding responding to guidance from national government.

Theissues pandemicbecameissues pandemicbecame pandemicbecamebecame resultedmoremore prevalentin lonelinessforin lonelinessfor lonelinessforfor children and mental and and mental and mental and and young health health people, especially during periods of during periods of periods of of lock down. The down. The The Trust’s team moved meetings on-line to provide support and as lock down measures eased, delivered and as lock down measures eased, delivered as lock down measures eased, delivered lock down measures eased, delivered down measures eased, delivered measures eased, delivered eased, delivered outdoor activities in the immediate locality within the prevailing government government constraints.

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Lindley Educational Trust Limited

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Financial statements for the year ended 31 March 2021

Report of the trustees

Reaching vulnerable young people and communities during Covid-19 (continued)

With no meaningful traded income from the activities of the Hollowford Centre, to help finance this youth and community activity the Trust turned to its existing grant funders to re-purpose some restricted funds and applied to grant making bodies not previously engaged with. This led to an increase in activities for children and young people directly grant funded and designed to combat the impact of Covid-19 on their personal development. At periods during the year this work reached and benefitted over 250 children and young people a week from the communities of Ashton and Pitsmoor.

Extended reach

----- Start of picture text -----
The Trust continued to pursue its objective of developing Uy i
outdoor learning practitioners and the wider sector beyond its “bn : 2
own immediate team during the year. The team maintained its ih y 3 S
commitment to developing young leaders from ethnic NG ees
minority communities and providing supportive visible role “
models. Key team members have appeared on BBC
Countryfile and worked with other charities in the sector . a Yaz
(Outward Bound Trust & Shadwell Basin), supported by the fe “ & A
outdoor equipment manufacturer North Face, to develop a “SS
cohort of young leaders. y BS a ¥
The Trust also benefits from support from the outdoor ft ~
clothing to enable children and young people to enjoy outdoor A
equipment manufacturer Sprayway who provide high quality ; VW
challenges. a
----- End of picture text -----

The team also continue to play influential and developmental roles with leading outdoor learning sector bodies including The Institute for Outdoor Learning, The Association of Heads of Outdoor Education Centres and The Peak Instructed Caving Affiliation. The Trust was particularly supportive of the dialogue with the Department for Education in re-establishing school residential visits suspended during the pandemic.

Profile of beneficiaries

To fulfil Lindley Educational Trust's objectives, the vast majority of activity focus has been on the provision of outdoor developmental activities for young people. The impact of COVID-19 has significantly reduced the number of people the Trust has been able to reach. In 2020/21 this work was spread amongst the following:

Young people of school age 5,924 delegate days (2020: 27,886) Young people of post school age 1,382 delegate days (2020: 2,971) Community activity & venue hire 512 delegate days (2020; 2,384)

The Trust is committed to working with young people from vulnerable and disadvantaged backgrounds. The need for the provision of outdoor developmental activities has been highlighted further during the COVID-19 pandemic. During the last year our work in this area accounts for 66% (2020: 30%) of the young people the Trust worked with.

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Lindley Educational Trust Limited

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Financial statements for the year ended 31 March 2021

Report of the trustees

Reserves Policy

The impactful nature of the pandemic on the Trust’s financial model during the year required a review of the existing reserves policy by the Trustee board to ensure the Trust was able to continue to reach and benefit vulnerable young people whilst retaining its sustainability. The board has committed to rebuilding the Trust’s reserves as the impact of the pandemic eases. At the end of March 2021, free reserves were lower than previously acceptable for the trustees, though adequate to support a programme of rebuilding.

Financial risk management objectives and policies

The charitable company uses financial instruments, other than derivatives, comprising cash and other liquid resources and various other items such as trade debtors and creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the charitable company's operations. The main risks arising from the charitable company’s financial instruments are interest rate risk and liquidity risk. The trustees review and agree policies for managing each of these risks and they are summarised below. During this exceptional year, further funding was sought by the Trust through the UK Government’s Coronavirus Business Interruption Loan scheme. This funding provided additional working capital to sustain operational viability during and post the pandemic.

Liquidity risk

The charitable company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets and appropriately.

Plans for 2021/22

Recovering from Covid-19

The Trust’s plans for 2021/22 are initially focused on recovery and rebuilding of resources after 16 months of severely interrupted working. Residential Outdoor Learning services remain core to the Trusts financial viability and clients and beneficiaries of this work are the immediate recovery focus. This will include on-going development of the Hollowford Centre and its grounds, based on plans and funding established prior to the pandemic. Specifically this involves building a bike track designed to introduce cycling and refine cycling skills in a controlled environment prior to more adventurous and public venues.

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Lindley Educational Trust Limited

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Financial statements for the year ended 31 March 2021

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Report of the trustees
Reaching more more children, young people and families
@
Se Whilst the Trust remains committed to maintaining and
a sa developing its valued residential outdoor learning
: e > y oh a ~ services with schools, universities and employers, the
‘S as fy Me an’ need for an increase in the scale and reach of our
:= . 5cSe» yLy RES AN Wa| plansYouth for & Community 2020/21 and services beyond.isIt a is major clear that influence provision in
me } ne ie a ; of meaningful youth work in the urban communities
‘AL Aj closest to Lindley’s Hollowford Centre remains
ee. i vy = & restricted and often non-existent.
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— at,” Plans for the continued expansion of this work include:
, e Continued increase in the volume of provision
: in existing youth and community projects
= e Expansion in the number of grant funder
— —— relationships and resultant support
er Cat. <= e Work with an academic partner to refine the
He 7aa« Trust’spracticesmodelin thisforareachangeof workand evaluation
er e Identification of third third urban community to
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Reaching more more children, young people and families

• e Identification of third third urban community to establish a partnership with based on the insights from the Ashton and Pitsmoor projects

Inclusivity in governance In addition to on-going board succession management the trustees are committed to increasing the board’s connection to beneficiaries and informing its decisions with lived experiences from beneficiary communities. In 2021/22 this will result in the development of governance activity and experience in the urban communities the Trust boardserves table.and increased diversification around the

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Going Concern

These accounts cover the trading period when the Trust was materially impacted by the COVID-19 pandemic. The Department for Education revised its advice to schools enabling residential visits to the Hollowford Centre from late April 2021. Though some university and employer clients have continued to defer annual bookings the vast majority have returned to their historic booking patterns. The Trust has experienced an increased demand for its youth and community work in Ashton and Pitsmoor, with a related increase in grant funding to enable this and anticipates this continuing.

The Trustees have reviewed forecasts to October 2022, including consideration of actual bookings for the period and dialogue with university and employer clients, and have concluded that the Trust will be able to meet its liabilities as they fall due.

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Lindley Educational Trust Limited

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Financial statements for the year ended 31 March 2021

Trustees

The trustees who served during the year and the present membership of the board is set out below. All trustees served throughout the year, except where indicated.

Mr D W Butterfield Mr R A Hall Mr D Henderson Mrs KJones Mr P D Jones MrJ Price Chair MrJ M Reynolds Mtr T Soar

For the purposes of charities legislation all directors are also trustees of the charitable company. None of the directors had a material interest in any contract which was significant to the charitable company's business.

The trustees confirm that they have referred to and complied with the guidance set out by the Charity Commission on public benefit.

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Lindley Educational Trust Limited

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Financial statements for the year ended 31 March 2021

Trustees’ Responsibilities Statement

The trustees (who are also directors of Lindley Educational Trust Limited for the purposes of company law) are responsible for preparing the Report of the trustees and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

• " select suitable accounting policies and then apply them consistently;

• " observe the methods and principles in the Charities SORP;

• s make judgements and accounting estimates that are reasonable and prudent; " state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

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 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.

The trustees confirm that:

• . so far as each trustee is aware, there is no relevant audit information of which the charitable company’s auditor is unaware; and

• " the trustees have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditor

The company's articles require annual reappointment of the auditors. Hawsons have expressed willingness to continue in office. In accordance with Section 144 of the Charities Act 2011 a resolution to reappoint Hawsons as auditors will be proposed at the Annual General Meeting.

ON BEHALF OF THE TRUSTEES

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MrJ Price MrJ M Reynolds
Trustee Trustee
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20" October 2021

20" October 2021

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Independent auditor's report to the trustees of Lindley Educational Trust Limited

Opinion

We have audited the financial statements of Lindley Educational Trust Limited (the ‘charitable company’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities (incorporating the income and expenditure account), the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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:

• e give a true and fair view of the state of the charitable company’s affairs as at 31 March 2021, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and e have been prepared in accordance with the requirements of the Companies Act 2006.

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 trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

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Independent auditor's report to the trustees of Lindley Educational Trust Limited

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the trustees’ report (incorporating the strategic report and the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• • the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

• ° the information given in the trustees’ report is inconsistent in any material respect with the financial statements; or

• e sufficient accounting records have not been kept; or e the financial statements are not in agreement with the accounting records; or ® we have not received all the information and explanations we require for our audit.

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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The charitable company is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the charitable company and the environment it operates within, we determined that the laws and regulations which were most significant included FRS 102, Companies Act 2006, Health and Safety regulations and the Charities Act 2011. We considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial statements, including how fraud might occur.

Independent auditor's report to the trustees of Lindley Educational Trust Limited Au
lel)' to the chatiiable compani s mefflbEra, a5 2 b¢xl!'. accordancc Mith ChpEcr 3 of Part 16 of tlie CutnpAnies Acr 2(X)6. 1)llr audit ￿()r￿- ha5 been uThAefraken w Ihat we rright state to the ch2rirahle compan! s membcrs those matters m'c 1e rtquiied ro srate to thetn In atl 2udiior'.% re[￿tt and fr)r oihtr purpose. Tu the full¢41 exient perniirred b}. la￿. di) not accept or*ssume te$wnsibibTh' toan)Dne other than the chariiable ctsmpan). and the chantrable comp3ft1 s membets 25 2 b(xl}'D for our audit for du5 ttpoft. or (or the optnitsrts Ii'c hai'e fOr￿ed. Siniun Bladen. Senjor SiatuioTh' Iludiior For 2nd on behal(of Hxw30ns Chanered ilccountsnts. Staw￿ri kluditor Pcxasus House 463a G105sop Road Sheffield S102QD Date: ...

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Lindley Educational Trust Limited

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Financial statements for the year ended 31 March 2021

Statement of financial activities (incorporating the income and expenditure account)

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||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Note|Unrestrictedfunds|— Restrictedfunds|Total2021|Total2020| |i|£|£|£| |Income|from:| |Donations|and|legacies|720|248,876|249,596|148,305| |Government|grants|338,201|-|338,201|7,042| |Charitable|activities| |Courses|and|training|205,825|-|205,825|1,620,620| |Investments|4|509|-|509|1,730| |Total income|545,255|248,876|794,131|1,777,697| |Expenditure|on:| |Raising|funds|5|13,295|-|13,295|20,070| |Charitable|activities|5|801,103|190,000|991,103|1,686,960| |Total|expenditure|814,398|190,000|1,004,398|1,707,030| |Net income/ (expenditure)|(269,143)|58,876|(210,267)|70,667| |Net movement|in|funds|before|transfers|(269,143)|58,876|(210,267)|70,667| |Transfer between|funds|2,500|(2,500)|-|-| |Net movement|in|funds|(266,643)|56,376|(210,267)|70,667| |Fund|balances|brought|forward|at|1|April 2020|15/16|27651,452,2|187,318|| ae1|1|tOE|IS| |Fund balances|carried forward|at 31 March 2021|15/16|___1,185,642|143,694||1,329,336|_1,539,603|

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All of the above relate to continuing activities.

The accompanying accounting policies and notes (pages 15 to 24) form an integral part of these financial statements.

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Lindley Educational Trust Limited

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Financial statements for the year ended 31 March 2021

	Note	2021	2020
		£	£
Fixed assets
Tangible assets	10	1,462,512	1,533,590
Current assets
Stocks	11	1,376	3,551
Debtors	12	125,605	283,798
Cash atbank and in hand		374,235	328,329
		501,216	615,678
Creditors: amounts fallingduewithinone year	13	(296,596)	(437,289)
Net current assets		204,620	178,389
Total assets less current liabilities		1,667,132	1,711,979
Creditors: amounts fallingdue aftermore than one year
Long term loan	13	(312,945)	(139,241)
Provisions for liabilities	14	(24,851)	(33,135)
		(337,796)	(172,376)
Netiassets		1,329,336	1,539,603
Income funds
Unrestricted funds	15	1,185,642	1,452,285
Restricted funds	16	143,694	87,318
		1,329,336	1,539,603

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

The financial statements were approved and authorised for issue by the Board of Trustees on 20" October 2021.

| | / = (NX

—.

TrusteeMrJ Price

Mr Trustee J M Reynolds

Charity number: 247662 Company number: 00867065

The accompanying accounting policies and notes (pages 15 to 24) form an integral part of these financial statements.

R

Lindley Educational Trust Limited

14

Financial statements for the year ended 31 March 2021

Statement of cash flows

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Note|2021|2020| |£|£| |Cash|flows|from|operating|activities| |Net|cash|provided|by|operating|activities|17|(94,280)|(184,006)| |Cash|flows|from|investing|activities| |Proceeds|from|sale|of tangible|fixed|assets|2,892|-| |Purchase|of tangible|fixed|assets|10|(57,706)|(31,165)| |Net cash|used|in investing|activities|(54,814)|(31,165)| |Cash|flows|from|financing|activities| |Receipt|of loan|195,000|-| |Interest on|loan|-|(13,765)| |Repayment of loan|-|(31,167)| |Net cash|used|in financing|activities|195,000|(44,932)| |Change|in|cash|and|cash|equivalents|in|the|reporting|period|45,906|(260,103)| |Cash and|cash|equivalents|at the|beginning of the|reporting|period|328,329|588,432| |Cash and cash|equivalents|at the end of the|reporting period|23|374,235|328,329|

----- End of picture text -----

The accompanying accounting policies and notes (pages 15 to 24) form an integral part of these financial statements.

‘

Lindley Educational Trust Limited

15

Financial statements for the year ended 31 March 2021

1

2

Charitable company information

Lindley Educational Trust Limited is a company limited by guarantee (company number 00867065). The registered office is Hollowford Centre, Castleton, Hope Valley, S33 8WB.

Basis of preparation

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 2015), (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Lindley Educational Trust Limited 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.

The financial statements are presented in sterling ({).

Going concern

These financial statements have been prepared on a going concern basis taking note of the guidance issued by the Financial Reporting Council on Going Concern Assessments in determining that this is an appropriate basis of preparation of the financial statements.

The Trustees have reviewed forecasts to October 2022, based on the likelihood that COVID-19 restrictions continue to ease and that trading will return to more normal levels by Spring/Summer 2022.

The Trustees expect that Lindley Educational Trust has sufficient resources to enable it to continue to adopt the going concern basis in preparing the financial statements. These financial statements do not include any adjustment that would arise if the going concern basis of preparation was not considered appropriate.

Income

Income is the total amount receivable by the charitable company for goods supplied and services provided in the year, excluding VAT and trade discounts. Deposit income is recognised when a visit takes place or when the charitable company is notified of a cancellation.

Grants

Grants are recognised as income in the SOFA when conditions attached are within the charity's control and it is probable that they will be met. If it is not certain, the incoming resources are deferred as a liability until the conditions imposed can be met.

: Lindley Educational Trust Limited

16

Financial statements for the year ended 31 March 2021

2 Basis of preparation (continued)

Expenditure

Expenditure, which is charged on an accruals basis, is allocated between:

= expenditure incurred directly to the fulfilment of the charity's objectives (direct charitable);

= expenditure incurred directly in the effort to raise contributions (fundraising and publicity); and

s expenditure incurred in relation to governance.

Fund accounting

Restricted funds are to be used for specified purposes laid down by the donor. Expenditure for those purposes is charged to the fund, together with a fair allocation of overheads and support costs.

Unrestricted funds are donations and other incoming resources received or generated for expenditure on the general objectives of the charitable company.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost, net of depreciation.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets held for charity use other than freehold land by equal annual instalments or the reducing balance method over their expected useful lives. The rates generally applicable are:

Freehold buildings 2% - 20% straight line Furniture and equipment: - computers 25% straight line - general 15% - 20% straight line Motor vehicles 25% reducing balance

Stocks

Stocks are stated at the lower of cost and net realisable value.

Leased assets

Payments made under operating leases are charged to the income and expenditure account on a straight line basis over the lease term.

Retirement benefits

Defined Contribution Pension Schemes

The pension costs charged in the year represent the amount of the contributions payable to the schemes in respect of the accounting period.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

‘

Lindley Educational Trust Limited

17

Financial statements for the year ended 31 March 2021

3

2 Basis of preparation (continued)

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions for liabilities

Provisions are recognised when the charitable company has a present obligation (legal or constructive) as a result of a past event, it is probable that the charitable company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking in to account the risks and uncertainties surrounding the obligation.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Provisions

These financial statements include provisions for VAT liabilities as at 31 March 2021 that have arisen as a result of The Capital Goods Scheme, and that are judged to be probable to materialise at a future date. Where precise factual valuations of the liability are not available, judgement has been used to estimate the size and probability of the liability.

Investment income

Investment income comprises income from:

Bank deposits

2021	2020
£	£
509	1,730

4

F Lindley Educational Trust Limited

18

Financial statements for the year ended 31 March 2021

5

Notes to the financial statements

Total expenditure

				Activities	for
					Young
				Young	people
			Marketing	people of	post
		Basis of	and	school	school			2021	2020
		allocation	fundraising	age	age	Community	Governance	Total	Total
			£	£	£	£	£	£	£
Costs directly allocated to
activities
Staffcosts		Direct	-	440,862	14,997	18,185	-	474,044	531,564
Freelance
consultancy		Direct	-	19,661	669	811	-	21,141	190,170
Hollowford
running costs		Direct	-	8,827	300	364	-	9,491	31,716
Motor vehicles and
travel		Direct	-	16,791	571	693	-	18,055	55,167
Otherdirect costs		Direct	-	36,330	1,235	1,499	-	39,064	338,630
Audit		Direct	-	-	-	-	7,122	7,122	7,295
Support costs
Establishment		Usage	-	53,517	1,821	2,207	-	57,545	126,728
Staffcosts		Time	13,295	176,660	6,010	7,286	-	203,251	216,652
Professional fees		Usage	=	1,994	68	82	-	2,144	9,101
Office costs		Usage	-	20,295	690	838	-	21,823	24,748
Public liability
insurance		Usage	-	8,495	289	350	-	9,134	18,326
Depreciation		Usage	-	119,769	4,074	4,941	-	128,784	131,942
General costs		Usage	-	3,189	108	132	-	3,429	11,226
Profit in sale of
fixed asset	Transaction		-	(2,690)	(91)	(111)	-	(2,892)	-
Bank Charges	Transaction			11,405	388	470		12,263	13,765
Totalresources expended			13,295	915,105	31,129	37,747	7,122	1,004,398 = 1,707,030
Total expenditure		includes:						2021	2020
								£	£
Auditor's remuneration								7,122	7,295
Depreciation:
Tangible fixed	assets, owned							128,784	131,942
Otheroperating	leaserentals							14,096	13,944

:

Lindley Educational Trust Limited

19

Financial statements for the year ended 31 March 2021

6

7

8

Employees

Staff costs during the year were as follows:

----- Start of picture text -----
|||||| |---|---|---|---|---| |2021|2020| |&|£| |Wages|and|salaries|614,343|669,359| |Social|security|costs|37,518|47,547| |Other|pension|costs|25,434|31,309| |677,295|748,215|

----- End of picture text -----

The average number of employees during the year was 24 permanent employees (2020: 28) and 28 part time employed on a casual basis (2020: 26), all of whom were engaged in the training and personal development of young people and others.

No employees earned more than £60,000.

Senior management remuneration

The key management personnel of the company comprise the senior management team, as set out on the company information page.

The total employee benefits of the key management personnel of the company were £180,474 (2020: £198,891).

Directors

None of the directors received remuneration in the year (2020: £nil).

Trustee remuneration and related party transactions

No trustee or person with a family or business connection with a trustee, received remuneration in the year, directly or indirectly, from either the charity or an institution or company controlled by the charitable company.

No trustees were reimbursed for directly incurred expenditure on travel and other expenses during the year (2020: none).

There were no related party transactions during the year. During the year ended 31 March 2020 Lindley Educational Trust Limited paid £375 for services provided by a company where one of the directors is also a trustee of Lindley Educational Trust Limited.

Changes in resources available for charity use

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |2021|2020| |£|£| |Net|movement|in|funds|for|the|year|(210,267)|70,667| |Net|(decrease)|in|tangible|fixed|assets|for direct charitable|purposes|(71,078)|(100,777)| |Net movement|in|funds|available|for|future|activities|(281,345)|(30,110)|

----- End of picture text -----

9

5

Lindley Educational Trust Limited

20

Financial statements for the year ended 31 March 2021

Notes to the financial statements

10 Tangible fixed assets

11

12

	Freehold	Furniture
	land and	and	Motor
	buildings	equipment	vehicles	Total
	£	£	£	£
Cost
At 1 April 2020	2,659,579	513,405	69,143	3,242,127
Additions	5,202	12,850	39,654	57,706
Disposals	~	(1,850)	-	(1,850)
At 31 March 2021	2,664,781	524,405	108,797	3,297,983
Depreciation
At 1 April2020	1,181,447	469,036	58,054	= 1,708,537
Provided in the year	98,096	15,826	14,862	128,784
Depreciation on disposal	-	(1,850)	=	(1,850)
At 31 March 2021	1,279,543	483,012	72,916	1,835,471
Netbook amount at31March2021	1,385,238	41,393	35,881	1,462,512
Netbook amount at 31 March 2020	1,478,132	44,369	11,089	1,533,590
All tangible fixed assets were used for charitable purposes.
Stocks
			2021	2020
			£	£
Goods for re-sale			1,376	3,551
Debtors
			2021	2020
			£	£
Trade debtors			48,683	232,635
Prepayments and accrued income			76,922	51,163
			125,605	283,798

:

Lindley Educational Trust Limited

21

Financial statements for the year ended 31 March 2021

14

15

Notes to the financial statements

13

Creditors

Amounts falling due within one year

Amounts falling due within one year
	-	2021	2020
		&	£
Trade creditors		8,065	14,763
Social security and other taxes		10,989	15,301
Other creditors and deferred income		187,589	310,151
Current portion oflong term loan		69,238	47,942
Pension contributions		3,651	4,755
Accruals		17,064	44,377
		296,596	437,289
Deferred income is in relation to deposits received for future bookings. A portion of the		long term loan is secured
fixed charge and floating charge over all property and undertakings	ofthe charitable company.
Amounts falling due after more than one year
		2021	2020
		£	£
Long term loan		312,945	139,241
Provisions for liabilities		24,851	33,135
		337,796	172,376
A portion ofthe longterm loan is secured by a fixed charge and floating charge over all property and undertakings
the charitable company.
Provisions for liabilities
			VAT
			provision
			&
Balance at	April 2020
Amount utilised in the year			(8,284)
Balance at 31 March 2021			24,851
A provision has beenmade in the financial statements for possible	VATrepayments under a capital goods scheme.
Unrestricted funds
			Total
			£
At 31 March 2019			1,426,441
Income			1,634,804
Expenditure			(1,608,960)
Transfer from restricted funds			-
At 31 March 2020			1,452,285
Income			545,255
Expenditure			(814,398)
Transfer from restricted funds			2,500
At31March2021			1,185,642

Deferred income is in relation to deposits received for future bookings. A portion of the long term loan is secured by a fixed charge and floating charge over all property and undertakings of the charitable company.

A portion of the long term loan is secured by a fixed charge and floating charge over all property and undertakings of the charitable company.

.

Lindley Educational Trust Limited

22

Financial statements for the year ended 31 March 2021

16 Restricted funds

Notes to the financial statements

	Rank	Ashton	Pitsmoor
	Foundation	Youth	Youth
2020		Club	Club	Total
	£	&	£	&
Balance at 1 April 2019	18,805	12,911	10,779	42,495
Income	80,468	42,040	20,385	142,893
Expenditure	(49,293)	(36,572)	(12,205)	(98,070)
Capital Expenditure	-	-	-	-
At 31 March 2020	49,980	18,379	18,959	87,318
		Ashton	__‘Pitsmoor
2021	Rank Foundation	Youth Club	Youth Club	COVID-19	Other	Total
		&	&	£	£	&
Balance at 1 April 2020	49,980	18,379	18,959	-	-	87,318
Income	49,688	65,089	12,464	107,819	13,816	248,876
Expenditure Capital Expenditure	(51,705) -	(21,460) -	(9,016)	(107,819) -	(2,500)	(190,000) (2,500)
At31March2021	47,963	62,008	22,407	-	11,316	143,694

17

18

Reconciliation of changes in resources to net cash inflow from operating activities

	2021	2020
	&	£
Net movement in funds	(210,267)	70,667
Depreciation oftangible fixed assets	128,784	131,942
(Increase)/ decrease in stocks	2,175	a
(Increase)/ decrease in debtors	158,193	(126,456)
(Decrease)/ increase in creditors excluding the long term loan	161,989	(251,875)
(Decrease) in provisions	(8,284)	(8,284)
Profit on disposal of fixed assets	(2,892)	:
Net cashprovidedby operating activities	(94,280)	(184,006)
Capital commitments
At 31 March, the company had the following capital commitments.
	2021	2020
	£	£
Contracts for future capital expenditure not provided in the financial statements
Motorvehicles	a	14,577

Lindley Educational Trust Limited

23

Financial statements for the year ended 31 March 2021

19

20

22

Notes to the financial statements

Contingent liabilities

There were no contingent liabilities at 31 March 2021 or 31 March 2020,

Retirement benefits

Defined Contribution Pension Scheme

The charitable company operates a defined contribution scheme for the benefit of the employees. The assets of the scheme are administered by trustees in a fund independent from those of the charity. The contributions paid into the scheme in the year are set out in note 6.

21 Leasing commitments

At 31 March 2021 the charitable company had minimum lease payments under non-cancellable operating leases as

follows:

follows:
	Land and	Land and
	buildings	buildings	Other	Other
	2021	2020	2021	2020
	£	£	£	£
Within one year	-	-	10,705	9,792
Between one and five years	-	-	3,306	11,424
Over five years	i	‘	=	z
	-	-	14,011	21,216

Analysis of net assets between funds

	Restricted	Unrestricted
	funds	Funds	Total
Fund balances at 31 March 2021 are represented by:	&£	&	£
Tangible fixed assets	-	1,462,512	1,462,512
Current assets	143,694	357,522	501,216
Current liabilities	-	(296,596)	(296,596)
Long term liabilities	-	(337,796)	(337,796)
Totalnetassets	143,694	1,185,642	1,329,336

a

Lindley Educational Trust Limited

24

Financial statements for the year ended 31 March 2021

23

Notes to the financial statements

Financial assets and liabilities

24

	2021	2020
	£	£
Financial assets
Bank accounts	374,235	328,329
Trade debtors	125,605	283,798
	499,840	612,127
	2021	2020
	£	£
Financial liabilities
Trade creditors	8,065	14,763
Other creditors	202,229	330,207
Accruals	17,064	44,377
Provisions	24,851	33,135
Long term loan	382,183	187,183
	634,392	609,665
Borrowings
	2021	2020
	£	£
Amounts due within one year	69,238	47,942
Amounts due between one and five years	312,945	139,241
Amounts due in over five years	-	-
Totalliability	382,183	187,183