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2021-12-31-accounts

~pa e
Report ofthe Trustees 3 to 7
Report ofthe Independent
Auditors		 8toll
Consolidated
Statement ofFinancial		 Activities 12
Consolidated
Balance Sheet		 13
Charity Balance Sheet 14
Consolidated
Cash flow Statement		 15 to 16
Notes to the Consolidated
Financial		 Statements 17to 28
Registered charity number charity number 292027
Registered office Bowland House
Philips Road
Blackburn
Lancashire
BB15NA
Trustees and key management personnel H A Cann CBE
C Fahy
H D Turner
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
HGJ IED

Unrestricted Restricted
Notes funds funds 2021 2020
as restated
Income from:
Donations
and legacies		 500 500 226,551
Commercial
trading		 operations in support ofthe
charitable
group's		 aims and objectives 2,289,967 2,289,967 1,533,770
Investment
income		 20,242 20,242 57,764
Total income 2,310,709 2,310,709 1,818,085
Expenditure
on:
Commercial
trading		 operations in support ofthe
charitable
group's		 aims and objectives 4,315,445 4,315,445 4,908,127
Charitable
activities		 231,766 231,766 1,319,948
Total expenditure 4,547,211 4,547,211 6,228,075
Net gains/ (losses) on investments 92,745 92,745 (252,524)
Net expenditure and net movement in funds
before taxation (2,143,757) (2,143,757) (4,662,514)
Taxation (1,522) (1,522) (72,596)
Net expenditure and net movement in funds
after taxation (2,145,279) (2,145,279) (4,735,110)
Reconciliation offrmds
Total funds brought forwards 2,281,220 2,281,220 7,016,330
Total funds carried forwards 18 135,941 135,941 2,281,220
Net
expenditure		 and movement in funds
attributable
to:
Parent charity (1,691,229) (1,691,229) (3,962,283)
Non-controlling
interest		 (454,050) (454,050) 772,827)
Total (2,145,279) (2,145,279) 4,735,110
All transactions
relate		 to continuing operations.

Notes 2021 2020
as restated
FIXEDASSETS
Intangible
assets		 11 992,243 1,778,521
Tangible assets 12 175774 10665
1,168,017 1,789,186
CURRENT ASSETS
Stocks 250,477 377,572
Debtors 14 205,797 685,068
Listed investments 15 2,408,730 3,323,652
Other investments 64,235
Cash atbank and in hand 167003 45~ 821
3,032,007 4,901,348
CREDITORS
Amounts
falling		 due within one year 16 ~3945 27 4 194653
NET CURRENT ASSETS ~9332411 706695
TOTAL ASSETSLESSCURRENT
LIABILITIES 254,777 2,495,881
PROVISIONS FORLIABILITIES (118,836) (214,661)
NKT ASSETS 135,941 2281220
FUNDS
Restricted
Unrestricted 18 981,943 2,673,172
Non-controlling interests 18 (846,002) (391,952)
Total 135941 2281220

2021 2020
Notes as restated
FIXEDASSETS
Investments 13
Tangible assets 12 155 999
165,999
CURRENT ASSETS
Debtors 14 1,590,000 680,000
Listed investments 15 2,408,730 3,323,652
Other investments 64,235
Cash at bank and in hand 98 195 321316
4,096,925 4,389,203
CREDITORS
Amounts
falling due within one year		 16 4311518 424 096
NET CURRENT ASSETS 3,678,407 3,964,207
NET ASSETS 3044.406 3 964207
FUNDS
Restricted 18
Unrestricted 18 3,844,406 3,964207
Total 3 844 406 3 964207

Notes 31.12.21 31.12.20
as restated
Cash flows from charitable
activities
Cash used in operating
activities		 (1,322&576) (2,674,957)
Tax paid/ (received)
(1,322,576) 2,674,957
Cash flows from investing
activities
Purchase ofcurrent asset investments (4,501,743)
Purchase ofintangible
fixed assets		 (12,388)
Purchase oftangible
fixed assets		 (173,306) (5,388)
Sale ofcurrent asset investments 1,071,902 4,150,502
Interest received 27 462
Issue ofordinary
share capital
Dividends
received		 20215 57,302
Net cash from investing
activities		 918,838 311,253
Cash flows from financing
activities
Loan advances received 120,000 1,444,341
Net cash from financing
activities		 120,000 1,444,341
Decrease in cash and cash equivalents (283,738) (1,541,869)
Cash and cash equivalents
at beginning		 ofyear 450,821 1,992,690
Cash and cash equivalents
at end ofyear		 167,083 450,821
RECONCILIATION
OFDEFICIT TO CASH GENERATED		 RECONCILIATION
OFDEFICIT TO CASH GENERATED		 RECONCILIATION
OFDEFICIT TO CASH GENERATED		 FROM ACTIVITIES
31.12.21 31.12.20
as restated
Net expenditure
and net movement		 in funds (2,143,757) (4,726,749)
Finance income (20,242) (57,764)
Net losses on disposal ofintangible assets 7,511
Net gains on disposals ofinvestment assets (87,008) (26)
Net (gains)/losses
on revaluation
of		 investments assets (5,737) 252,551
Depreciation
and amortisation		 794,475 810,985
Decrease in stocks 127,095 301,006
Decrease in trade and other debtors
(Decrease)/Increase
in trade and other creditors		 479&271
~466,673&		 221,492
516,037
Cash generated
from charitable
activities		 (1,322,576) 2,674,957)
CASH AND CASH EQUIVALENTS
Balan ce Sheet amounts:
Year ended 31"December 2021
31.12.21 01.01.21
Cash at bank and in hand 167,083 450,821
Year ended 31"December 2020
31.12.20 01.01.20
Cash at bank and in hand 450,821 1,992,690

EMPLOYEES AND D IR ECTO RS
31.12.21 31.12.20
as restated
Wages and salaries 1,529,420 1,724,562
Social security costs 158,601 188,046
Employer contributions to defined contribution pension schemes 134,203 148,161
1,822,224 2,060,769
The average number ofemployees during the year was as follows:
31.12.21 31.12.20
as restated
Directors ofsubsidiaries 6 5
Staff 47 48
53 53
Employees
earning more than f60,000 during		 the year:
31.12.21 31.12.20
as restated
I60,001 —670,000 4 3
31.12.21 31.12.20
as restated
Key management personnel 273,102 243,201
Key management personnel employer contributions to defined
contribution
pension schemes		 27,095 22,565

The summary
financial p		 erformance
o		 fthe charity a lone is:
Unrestricted Restricted 2021 2020
Funds Funds as restated
8
Donations
and legacies		 500 500 189,235
Investment
income		 20,242 20,242 57,764
Other income
20,742 20,742 246,999
Expenditure
on charitable		 activities 231,766) (231,766) (1,319,949)
Net expenditure (211,024) (211,024) (1,072,950)
Net gains/
(losses) on listed investment		 assets 92,745 92,745 ~252,5252
Net movement
in funds before taxation		 (118,279) (118,279) (1,325,475)
Taxation (1,522) (1,522) (72,596)
Net movement
in funds after taxation		 (119,801) (119,801) (1,398,071)
Total funds brought
forward		 3,964,207 3,964,207 5,362,278
Total funds carried forward 3,844,406 3,844,406 3,964,207
Represented
by:
Unrestricted
income funds		 3,844,406 3,844,406 3,964,207
5. DONATIONS
AND LEGACIES
2021 2020 as restated
Group Charity Group Charity
Donations
received		 500 500 189,235 189,235
Grants received:
Coronavirus
Job Retention		 Scheme 26,316
COVID support grants 11,000
500 500 226,551 189,235

2021 2021 2020 as restated 2020 as restated
Group Charity Group Charity
Dividends
receivable on listed		 investments 20,215 20,215 57,302 57,302
Interest receivable
on cash at bank		 27 27 462 461
20,242 20,242 57,764 57,763
All ofthe above, in both the current and preceding year, are unrestricted funds.
TOTAL RESOURCES EXPENDED
Commercial
trading Charitable Total Total
operations activities 2021 2020
as restated
f
Costs directly allocated to activities:
Grants awarded (see note 9) 180,998 180,998 1,012,793
Staffcosts (see note 3) 1,822,224 1,822,224 2,060,769
Redundancy cost 151,498
Promotional costs 136,238 136,238 163,270
Product costs 1,231,755 1,231,755 1,528,110
Professional
and consultancy		 fees 123,400 123,400 219,458
Office and administrative
costs		 207,630 207,630 197,905
Depreciation 7,920 277 8,197 27,803
Amoitisation 786,278 786,278 783,182
Net losses on disposal ofassets 7,109
Support costs (Note 8) 50,491 50,491 76,178
4,315,445 231,766 4,547,211 6,228,075

SUPPORT COSTS
Commercial Total Total
trading Charitable 2021 2020
operations activities as restated
Support costs allocated to activities:
Bank charges 60 60 73
Legal and professional fees 5,500 5,500 19,123
Management
charge		 34,731 34&731 43,482
Auditor's
remuneration		 —audit services 10,200 10,200 13,500
50,491 50,491 76,178
ANALYSIS OF CHARITABLE ACTIVITIES
2021 2020
as restated
Educational
activities		 45&007 912,729
Religious activities 100,755 52,817
Recreational
activities		 3,588
Cultural
activities		 14,965
Support for activities ofyoung people 25,000 25,000
Donations
to other charities		 10,236 3,694
180,998 1,012,793

INTANGIBLE FIXEDASSETS
Software
development
costs
COST
At luJanuary
2021		 3,145,108
Additions
Disposals
At31"December 2021 3,145,108
AMORTISATION
At luJanuary
2021		 1,366,587
Charge for the year 786,278
Eliminated
on disposal
At 31u December 2021 2,152,865
NET BOOKVALUE
At 31u December 2021 992,243
At 31u December 2020 1,778,521

TANGIBLE FIXEDASSETS
Freehold Fixtures & Computer
property fittings equipment Total
8
COST
At 1"January 2021 6,743 126,601 133,344
Additions 166,276 7,030 173,306
Disposals
At 31"December 2021 166,276 6,743 133,631 306,650
DEPRECIATION
At 1"January 2021 5,900 116,779 122,679
Charge for the year 277 235 7,685 8,197
Eliminated
on disposal
At 31"December 2021 277 6,135 124,464 130,876
NKT BOOK VALUE
At 31u December 2021 165,999 608 9,167 175,774
At 31"December 2020 843 9,822 10,665

~Nf Pro ortion ofnominal value ofissued
Direct subsidiary:
Learning
by Questions		 Limited 77.6%Ordinary Shares Educational support services
Subsidiaries ofLearning by Questions
Limited:
Lancashire
Digital Limited		 100%Ordinary Shares Software development
Learning
Clip Limited		 100%Ordinary Shares Software development
LEBPartnership
Limited		 100%Ordinary Shares Sale ofeducational products

DEBTORS
2021 2020 as restated
Group Charity Group Charity
Amounts
falling due within one year:
Trade debtors 111,823 492,127
Amounts
owed by group undertakings		 1,590,000 680 000
Other debtors 35,692 167,396
Prepayments 58,282 25,545
205,797 1,590,000 685,068 680,000

LISTED INV E STMENTS- GROUP AND CHARITY
2021 2020
as restated
Market value at beginning ofyear 3,323,652 3,224,936
Additions
during		 the year 4,501,742
Disposals
during		 the year (1,007&667) (4,150,502)
Net gain/(loss) on revaluation 92,745 252,524
Market value at end ofyear 2,408,730 3,323,652

2021 2020 as restated
Group Charity Group Charity
Trade creditors 47,837 123,348
Other creditors 811,530 300,000 825,333 300,000
Other loans 2,819,820 2,700,316
Accruals 140,426 44,400 127,991 52,400
Social security and other taxes 125,714 74,118 417,665 72,596
3,945,327 418,518 4,194,653 424,996
ANALYSIS OF NET ASSETSBETWEEN FUNDS - GROUP
Total Total Total funds Total funds
restricted unrestricted 2021 2020
funds funds as restated
5
Fixed assets 1,168,017 1,168,017 1,789,186
Current assets 3,032,087 3,032,087 4,901,348
Current liabilities (3,945,327) (3,945,327) (4,194,653)
Provisions
for liabilities		 (118836 118,836 214,661
135,941 135,941 2,281,220

HARITY
Total Total Total funds Total funds
restricted unrestricted 2021 2020
funds funds as restated
165&999 165,999
4,096,925 4,096&925 4,389,203
418,518) 418,518) 424,996
3,844,406 3,844,406 3,964,207
Fixed assets Fixed assets
Current assets
Current liabilities

MOVEME N T
IN FUNDS- G		 ROUP
Net Transfers
At 1.1.21 movement in between Changes in
as restated funds funds equity At31.12.21
Restricted funds
Unrestricted funds:
General (1,011,348) (2,076,688) 426,532 (2)661,504)
Capital 100 100
Designated:
Grants payable 3,292,468 (68,591) (426,532) 2,797,345
2,281,220 (2,145,279) 135,941
Revaluations
and gains on Net
Incoming Resources disposal of movement in
resources expended investments Taxation funds
Restricted funds
Unrestricted funds:
General 2,310,709 (4,478,620) 92,745 (1,522) (2,076,688)
Capital
Designated:
Grants payable (68,591) (68,591)
Total 2,310,709 (4,547,211) 92,745 (1,522) (2,145,279)

MOVEMKN T
IN FUNDS- CHARIT		 Y
Net Transfers
At 1.1.21 movement in between
as restated funds funds At 31.12.21
Restricted funds
Unrestricted funds:
General 322,888 (51,210) 775,283 1,046,961
Capital 100 100
Designated:
Grants payable 3,641,219 (68,591) (775,283) 2,797,345
3,964,207 119,801) 3,844,406
Net
Incoming Resources Other gains movement in
resources expended and losses Taxation funds
Restricted funds
Unrestricted funds:
General 20,742 (163,175) 92,745 (1,522) (51,210)
Capital
Designated:
Grants payable (68,591) (68,591)
Total 20,742 (231,766) 92,745 (1,522) (119,801)