## 



## 

|||P~ae|
|---|---|---|
|Report ofthe Trustees||3to7|
|Report ofthe Independent|Auditors|8to 11|
|Consolidated<br>Statement ofFinancial Activities||12|
|Consolidated<br>Balance Sheet||13|
|Charity Balance Sheet||14|
|Consolidated<br>Cash flow|Statement|15to 16|
|Notes to the Consolidated|Financial Statements|17to 28|





|Registered|charity number|charity number||292027||
|---|---|---|---|---|---|
|Registered|office|||Bowland House||
|||||Philips Road||
|||||Blackbum||
|||||Lancashire||
|||||BB15NA||
|Trustees and||key management|personnel|H A Cann|CBE|
|||||C Fahy||
|||||H DTurner||
|Bankers||||Lloyds Bank Pic||
|||||Blackbum||
|||||Lancashire||
|||||BB2IJQ||
|Auditors||||Ainsworths|Limited|
|||||Chartered|Accountants|
|||||and Statutory Auditors||
|||||Charter House||
|||||Stansfield|Street|
|||||Nelson||
|||||Lancashire||
|||||BB99XY||
|Stockbrokers||and investment|advisers|Redmayne-Bentley||
|||||8-10Victoria Street||
|||||Harrogate||
|||||North Yorkshire||
|||||HGI 1ED||





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|||||||||Unrestricted|Restricted|||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Notes|funds|funds|2020|2019|
|Income from:||||||||||||
|Donations<br>and legacies|||||||5|162,316||162,316||
|Commercial<br>trading||operations||in support||ofthe||||||
|charitable<br>group's|aims and objectives|||||||1,533,770||1,533,770|1,771,149|
|Investment<br>income||||||||57,764||57,764|165,390|
|Total income||||||||I 753,850||1,753,850|1,936,539|
|Expenditure<br>on:||||||||||||
|Commercial<br>trading||operations||in support||ofthe||||||
|charitable<br>group's|aims and objectives|||||||4tt08,127||4,908,127|3,478,737|
|Charitable<br>activities||||||||1,319,948||1,319,948|1,469,833|
|Total expenditure||||||||6,228,075||6,228,075|4948 570|
|Net gains/ (losses)|on investments|||||||(252,524)||(252,524)|382,307|
|Net expenditure<br>and net movement|||||in funds|||(4,726,749)||(4i726&749)|(2,629,724)|
|Reconciliation<br>offends||||||||||||
|Total funds brought||forwards||||||7,016,330||7,016330|9,646,054|
|Total funds carried||forwards|||||18|2,289,581||2,289,581|7,016,330|
|Net<br>expenditure||and|movement||in|funds||||||
|attributable<br>to:||||||||||||
|Parent charity||||||||(3,953,922)||(3,953,922)|(2,332,269)|
|Non-controlling<br>interest||||||||(772,827||772,827|(408,081)|
|Total||||||||(4,726,749)||(4,726,749)|(2,629,724)|





## 

|||Notes|2020||2019||
|---|---|---|---|---|---|---|
|FIXEDASSETS|||||||
|Intangible<br>assets||ll||1,77$,521||2,564,828|
|Tangible assets||12||10665||25,078|
|||||1,789,186||2,589,906|
|CURRENT ASSETS|||||||
|Stocks|||377,572||678,578||
|Debtors||14|685,068||906,560||
|Listed investments||15|3,323,652||3,224,936||
|Cash at bank and in hand|||450,821||1,992,690||
||||4,837,113||6,802,764||
|CREDITORS|||||||
|Amounts<br>falling|due within one year|16|4,122 057||2 376340||
|NET CURRENT ASSETS||||715056||4 426 424|
|TOTAL ASSETSLESSCURRENT|||||||
|LIABILITIES||||2,504,242||7,016,330|
|PROVISIONS FORLIABILITIES||||(214,661)|||
|NET ASSETS||||2)289,581||7,016,330|
|FUNDS|||||||
|Restricted|||||||
|Unrestricted||18||2,6$1)533||6,635,455|
|Non-controlling|interests|18||(391,952)||380,875|
|Total||||2,289,581||7,016,330|





|||2020||2019||
|---|---|---|---|---|---|
||Notes|||||
|FIXEDASSETS||||||
|Investments|13|||||
|CURRENT ASSETS||||||
|Stocks||||240,516||
|Debtors|14|635,000||289,000||
|Listed investments|15|3/233652||3,224,936||
|Cash at bank and in hand||321,316||1,901,726||
|||4,279,968||5,656,178||
|CREDITORS||||||
|Amounts<br>falling due within one year|36|303400||333900||
|NET CURRENT ASSETS|||3,927,568||5,317,278|
|NET ASSETS|||3,927,568||5,317,278|
|FUNDS||||||
|Restricted|18|||||
|Unrestricted|18||3,927,568||5,317,278|
|Total|||3,927,568||5,317,278|





## 

|||Notes|31.12.20|31.12.19|
|---|---|---|---|---|
|Cash flows from charitable<br>activities|||||
|Cash used in operating<br>activities||I|(2,674,957)|(2,583,608)|
|Tax paid/ (received)|||||
||||2,674,95|~2,583,608|
|Cash tlows from investing<br>activities|||||
|Purchase ofcurrent asset investments<br>Purchase ofintangible<br>fixed assets<br>Purchase oftangible fixed assets<br>Saleofcurrent asset investments|||(4,501,743)<br>(12,388)<br>(5,388)<br>4,150,502|(392,515)<br>(1,049,390)<br>(11,867)<br>1,658,902|
|Interest received<br>Issue ofordinary<br>share capital|||462|1,596|
|Dividends<br>received|||57,302|163,794|
|Net cash &om investing<br>activities|||311,253|370,520|
|Cash flows from financing activities|||||
|Loan advances received|||1 444 341|1,255,975|
|Net cash from financing<br>activities|||1,444 41|1255 975|
|Decrease in cash and cash equivalents|||(1,541,869)|(957,113)|
|Cash and cash equivalents<br>at beginning|ofyear|2|1 992,690|2,949,803|
|Cash and cash equivalents<br>at end ofyear||2|450,821|1,992,690|





|RECONCILIATION<br>OFDEFICIT TO CASH GENERATED FROM ACTIVITKS|RECONCILIATION<br>OFDEFICIT TO CASH GENERATED FROM ACTIVITKS|RECONCILIATION<br>OFDEFICIT TO CASH GENERATED FROM ACTIVITKS|RECONCILIATION<br>OFDEFICIT TO CASH GENERATED FROM ACTIVITKS|RECONCILIATION<br>OFDEFICIT TO CASH GENERATED FROM ACTIVITKS||
|---|---|---|---|---|---|
|||||31.12.20|31.12.19|
|Net expenditure|and net movement|in funds||(4,726,749)|(2,629,724)|
|Finance income||||(57,764)|(165,390)|
|Net losses on disposal ofintangible<br>assets||||7,511||
|Net (gains)/losses|on disposals of|investment|assets|(26)|9,652|
|Net losses/(gains)|on investments|assets||252,551|(391,959)|
|Depreciation<br>and|amortisation|||810,985|493,387|
|Decrease/(Increase)<br>in stocks||||301,006|(49,385)|
|Decrease/(Increase)<br>in trade and other debtors||||221,492|(178,661)|
|Increase in trade|and other creditors|||516,037|328,472|
|Cash generated|from charitable|activities||(2,674,957)|(2,583,608)|



## 

## 

## 

|Year|ended 31"December 2020|||
|---|---|---|---|
|||31.12.20|01.01.20|
||||f|
|Cash|at bank and in hand|450,821|1,992,690|
|Year|ended 31"December 2019|||
|||31.12.19|01.01.19|
|Cash|at bank and in hand|1,992,690|2,949,803|





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## 

|||||||||31.12.20|31.12.19|
|---|---|---|---|---|---|---|---|---|---|
|Wages and salaries||||||||1,724,562|883,708|
|Social security|costs|||||||188,046|76,413|
|Employer contributions|||to|defined|contribution|pension schemes||148,161|83,158|
|||||||||2,060,769|1,043,279|
|The average number||ofemployees|||during the|year|was as follows:|||
|||||||||31.12.20|31.12.19|
|Directors||||||||5|8|
|Statf||||||||48|47|
|||||||||53|55|
|Employees<br>earning more than 560,000 during||||||the|year:|||
|||||||||31.12.20|31.12.19|
|560,001 - 570,000||||||||3|2|
|||||||||31.12.20|31.12.19|
|Key management|personnel|||||||243401|166,573|
|Key tnanagement|personnel|||employer contributions|||to defined|||
|contribution<br>pension||schemes||||||22,565|17,132|





## 

||subsidiaries,<br>the activities ofwhich are disclosed in note 1|subsidiaries,<br>the activities ofwhich are disclosed in note 1|subsidiaries,<br>the activities ofwhich are disclosed in note 1|3.||||
|---|---|---|---|---|---|---|---|
||The summary<br>financial performance ofthe charity alone|||||||
||is:|||||||
|||||Unrestricte|Restricted|||
|||||d||||
|||||Funds|Funds|2020|2019|
||||||||8|
||Donations|and legacies||125,000||125,000||
||Investment|income||57)764||57,764|165,382|
||Other income||||||2,101|
|||||182,764||182,764|167,483|
||Expenditure|on charitable activities||(1,319,949)||(I819,949)|(1,469,833|
||Net expenditure|||(1,137,185)||(1,137,185)|(1,302,350|
||||||||)|
||Net gains/ (losses) on listed investment||assets|(252,525)||(252,525|382,307|
||Net movement<br>in funds|||(1389,710)||(1,389,710)|(920,043)|
||Total funds|brought<br>forward||5,317,278||5,317,278|6,237,321|
||Total funds carried forward|||3,927,568||3)927)568|5,317,278|
||Represented|by:||||||
||Unrestricted|income funds||3,927,568||3,927,568|5,317,278|
|5.|DONATIONS<br>AND LEGACIES|||||||
|||||3L12.20||31.12.19||
||||Group|Charity|Group|Charity||
||Donations|received||125,000|125,000|||
||Grants received:|||||||
||Comnavirus|Job Retention Scheme||26416||||
||COVID support grants|||11,000||||
|||162,316|125,000|||||





## 

|INVESTMENT INC|O|ME|||||||
|---|---|---|---|---|---|---|---|---|
|||||31.12.20|||31.12.19||
||||Group|Charity||Group|Charity||
|||||8|||||
|Dividends<br>receivable on||listed investments||57302||57302|163,794|163,794|
|Interest receivable on|cash at||bank|462||461|1,596|1,588|
||57,764||57,763|165,390<br>165,382|||||
|All ofthe above, in both||the current and preceding||year, are unrestricted|funds.||||
|TOTAL RESOURCES||EXPENDED|||||||
|||||Commercia|||||
|||||I|||||
|||||trading||Charitable|Total|Total|
|||||operations||activities|2020|2019|
|Costs directly allocated to activities:|||||||||
|Grants awarded (see note 9)||||||1,012,793|1,012,793|1,414,374|
|Staff costs (see note 3)||||2,060,769|||2,060,769|1,043,280|
|Redundancy<br>cost||||151,498|||151,498||
|Promotional<br>costs||||163,270|||163,270|143,482|
|Product costs||||1,287,594||240,516|1,52$,110|1,442,405|
|Professional<br>snd consultancy|||fees|219,458|||219,458|123,143|
|Office and administrative||costs||207)444||(9,539)|197,905|222,546|
|Depreciation||||27,$03|||27,803|21,570|
|Amortisation||||783,1$2|||783,182|471,817|
|Net losses on disposal|ofassets|||7,109|||7,109||
|Support costs (Note 8)||||||76,178|76,178|65,953|
|||||4,908,127||1,319,948|6,228,075|4,948,570|





## 

## 

## 

|SUPPORT COSTS||||||
|---|---|---|---|---|---|
|||Commercia||||
|||1||||
|||trading|Charitable|Total|Total|
|||operations|activities|2020|2019|
|Support costs allocated|to activities:|||||
|Bank charges|||73|73|80|
|Legal and professional|fees||19,123|19,123|17,333|
|Management<br>charge|||43,482|43,482|40,440|
|Auditor's<br>remuneration|—audit services||13,500|13,500|8,100|
||||76,178|76,178|65,953|
|ANALYSIS OF CHARITABLE ACTIVITIES||||||
|||||2020|2019|
|Educational<br>activities||||912,729|860,024|
|Religious activities||||52,817|30,428|
|Recreational<br>activities||||3,588|50,000|
|Cultural<br>activities||||14,965|373,922|
|Support for activities|ofyoung people|||25,000|41,300|
|Donations to other charities||||3694|58,700|
|||||1,012,793|1,414,374|



## 



## 

## 

|INTANGIBLE FIXEDASSETS||||
|---|---|---|---|
||Development|Computer||
||costs|software|Total|
|COST||||
|At l'January<br>2020|3,132,720|40,011|3,172,731|
|Additions|12/88||12,388|
|Disposals||40,011|40,011|
|At 31"December 2020|3,145,108||3,145,108|
|AMORTISATION||||
|At l"January 2020|583,405|24,498|607,903|
|Charge for the year|783,182|8,002|791)184|
|Eliminated<br>on disposal||(32,500|(32,500)|
|At 31 December 2020|1366,587||1,366,587|
|NET BOOK VALUE||||
|At 31"December 2020|1,778,521||1,778,521|
|At 31"December 2019|2,549,315|15,513|2,564,828|



## 

|TANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|
||Fixtures|&|Computer||
||fittings||equipment|Total|
||||8||
|COST|||||
|At 1*'January 2020|1,176||69,335|70,511|
|Additions|||5,388|5,388|
|Disposals<br>At31'December 2020|1,176||2,116)<br>72,607|(2,116<br>73,783|
|DEPRECIATION|||||
|At 1"January 2020||98|45,335|45,493|
|Charge for the year||235|19,566|19,801|
|Eliminated<br>on disposal<br>At 31"December 2020||333|(2,116)<br>62,785|(2,116)<br>63,178|
|NET BOOK VALUE|||||
|At 31"December 2020||843|9,822|10,665|
|At 3l"December 2019|1,078||24,000|25,078|





## 

## 

## 

|N~f|ortion ofnominal|value ofissued|||
|---|---|---|---|---|
|Learning by Questions Limited|77.6%Ordinary|Shares|Educational|support services|
|Lancashire<br>Digital Limited|100%Ordinary|Shares|Soibvare|development|
|Learning Clip Limited|100%Ordinary|Shares|Soibvsre|development|
|LEBParmership<br>Limited|100%Orfhnary|Shares|Sale ofeducational<br>products||



## 




## 

## 

|LISTEDINV|E|STMENTS- GROUP AND CHARITY|||
|---|---|---|---|---|
||||2020|2019|
||||8||
|Market value|at|beginning ofyear|3,224,936|4,109,016|
|Additions<br>during||the year|4,501,742|392,515|
|Disposals<br>during||the year|(4&150&502)|(1,658,902)|
|Net gain/(toss)|on revaluation||252,524|382,307|
|Market value|at|end ofyear|3,323,652|3,224,936|



## 

|||||31.12.20|31.12.20|31.12.19||
|---|---|---|---|---|---|---|---|
||||Group|Charity|Group|Charity||
|Trade creditors||||123348||65,525||
|Other creditors||||825,333|300,000|812,779|300,000|
|Other loans|||2,700,316|||1,255,975||
|Accruals||||127,991|52,400|166,621|38,900|
|Social security|and other taxes|||345,069||75,440||
||4,122,057|352,400|2,376,340|338,900||||



## 

|ANALYSIS OFNET ASSETSBETW|EEN FUNDS - GROUP||||
|---|---|---|---|---|
||Total|Total|||
||restricted|unrestricted|Total funds|Total funds|
||funds|funds|2020|2019|
|Fixed assets||1,789,186|1,789,1$6|2,589,906|
|Current assets||4,837,113|4,837,113|6,802,764|
|Current liabilities||(4,122,057) .|(4,122,057)|(2,376,340)|
|Provisions<br>for liabilities||214,661|214661||
|||2,289,581|2489,5$1|7,016,330|



## 

|ANAL|YSIS OFNET ASSETS BET|WEEN FUNDS -CHARITY||||
|---|---|---|---|---|---|
|||Total|Total|||
|||restricted|unrestricted|Total funds|Total funds|
|||funds|funds|2020|2019|
|||||8|f,|
|Fixed assets||||||
|Current|assets||4479,968|4,279,968|5,656,178|
|Current|liabilities||352,400|352,400|338,900|
||||3,927,568|3,927,568|5,317,278|





## 

## 

|MOVEMENT IN FUNDS- GROUP|MOVEMENT IN FUNDS- GROUP|MOVEMENT IN FUNDS- GROUP|MOVEMENT IN FUNDS- GROUP|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Net||Transfers|||||
||||||||movement|in|between|Changes|in|||
|||||At|1.1.20<br>8||funds||funds|equity||At31.12.20<br>f||
|||||as restated||||||||||
|Restricted|funds|||||||||||||
|Unrestricted||funds:||||||||||||
|General||||2+92,036|||(3,778,831)||383,808|||(1,002,987)||
|Capital||||||100|||||||100|
|Designated:||||||||||||||
|Grants payable||||4,624,194|||(947,918)||(383,808)|||3,292,468||
|||||7,016,330|||(4,726,749)|||||2,289,581||
|Net movement||in funds, included|in the|above are||as follows:||||||||
|||||||||||Revaluations||||
|||||||||||slid gallic ou||Net||
||||||||Incoming||Resources|disposal of||movement|in|
||||||||resources||expended|investments||funds||
||||||||||f,|||f||
|Restricted funds||||||||||||||
|Unrestricted||funds:||||||||||||
|General|||||||1,753,850||(5,273,048)|(252,524)||(3,778,831)||
|Capital||||||||||||||
|Designated:||||||||||||||
|Grants payable|||||||||(947,918)|||(947,918)||
|Total|||||||1,753,850||(6428,075)|(252,524)||(4,726,749)||





## 


|MOVEMEN|T IN FUNDS- CHARIT|Y|||||
|---|---|---|---|---|---|---|
||||Net||Transfers||
||||movement|in|between||
|||At 1.1.20|funds||funds|At 31.12.20|
|||8|||||
|Restricted funds|||||||
|Unrestricted|funds:||||||
|General||692,984|(441,792)||35,057|286449|
|Capital||100||||100|
|Designated:|||||||
|Grants payable||4,624,194|(947,918)||(35,057)|3,641,219|
|||5,317,278|(1,389,710)|||3,927,568|



||||||Net||
|---|---|---|---|---|---|---|
|||Incoming|Resources|Other gains|movement|in|
|||resources|expended|and losses|funds||
|Restricted funds|||||||
|Unrestricted|funds:||||||
|General||182,764|(372,031)|(252,525)|(441,792)||
|Capital|||||||
|Designated:|||||||
|Grants payable|||(947,918)||(947,918)||
|Total||182,764|(1819,949)|(252,525)|(1,389,710)||



## 

## 

|CONSOLIDATED|STATEME|NT OF CHANGES IN E|QUITY|||
|---|---|---|---|---|---|
|||||Non-||
||||Unrestricted|controlling||
||||funds|interests|Total|
|Balance at 1January|2020||6,635,455|380,875|7,016,330|
|Total comprehensive|expenditure|for the year|(3,953,922)|(772,827)|(4,726,749)|
|Balance at 31December 2020|||2,681,533|(391,952)|2,289,581|





## 

##