Registered number- 01240377 Charity number: 504913 LINKAGE COMMUNITY TRUST (A company limited by guarantee TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 *AA)26TISX* 0110512024 COMPANIES HOUSE A07 71 LINKAGE COMMUNITY TRUST (A company limited by guarnntee) CONTENTS Page Refewen¢e and admlnSstsatlve detsll$ of the Trus( ils Trustees and advisews Chlimian's stalement Tru$ltts' rM>ort 4-15 Trustee5' responsibilities statement ndep•nd•nt auditors. report on the financial statements Statement ¢1 fina￿111 a¢tiviti•$ 16 17-21 22-23 Balance sheet 24-25 stst•m•nl ¢f Cash flows 26 Notes to the financial statements 27-54 UNKAGE COMMUNfFYTRUST (A company limited by guarante•) REFERENCE AND ADMINISTRATIVE DETAILS OF THE TRUST. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023 TnJstee$ MTKJBatty MTS T U Boyes (appointed 6 September 2023. re%gned 12 20241 Mrs B L Findlay Ireswjned 17 October 20221 Mr$ E Hadley Iresvjned 17 Au9USt 20231 PAr S J Hatchman Dr L M Lofts {appointed 9 November 2023) PAr D Reed I￿$*JAed 24 January 2023) Mr5 S M Simpson MT M A Smth. Chaimian MT E J Steabler (appointed 29 August 2023. resigned 5 February 20241 Mrs K l Truscott (res￿ned 30 Awil 20231 Mrs S Wood lapwnted 19 January 20231 Company Registered Number 01240377 Charity R¢gistered Nurn￿r 504913 R•gistered Office Toynton Hal Main Road Toynton All Saints Spilsby Lincolnshire PE23 SAE Ind•pgndgnl Auditows Streets Audrt LLP Chartered AcC￿tantS & StstiJtw Auditor TO￿tr House Lu¢y Street Lincoln LN1 1XW Banke Uoyds Bank High Street n￿An LN57AP Solicito Bridge McFarfand LLP 9 Commarket Louth Lincc4nshire LN11 9PY In¥e$knon¢ Advisfrrs j¢h.' investment management limrted 1 Henley Way D(MJdin9ton Road ncdn LN6 3QR Page 1 UNKAGE COMIAUNrrY TRUST IA company limited by guarantee) CHAIRMAN'S STATEIAENT FOR THE YEAR ENDEO 31 AUGUST 2023 The Chaimian wesents th•r statement for the year. l am very pleased to repC￿t another successful year for Linkage Communty Trust. 202212023 saw operations revert lo normal follov+ing ihe COWO-19 pandern￿. opening up oppwlunitie5 for the people Linkage supports to enjoy many opportunitie5. The Weelsby Hall Project continued to develop to¥Ards the re1W￿Shrnent of the Victorian Hall standing in the Trust's Weelsby Campus at Grimsby. The C￿n￿eted prqecl ￿911 feature a training hub. accommodation for people m¢xe complex needs plus office space. The prqe¢t Vaill generate in¢ome streams lo fund the ongoing maintenance and running costs of the facilities. as *tll as protethng the future ol a local heritage asset. The Nab'onal Lottery Heritage Fund in74rted a apph"cab"on for fLY￿1ng, Identi￿n9 the ¢cthmunity Ixnefits of the project. ansJ granted £277.000 towards the projed development stsge vh)ich will go lowards urgent roof repairs. The Hall invrted visitors in September 2022 as part of the nats.onal Heritage Open Day5. A numbey of property developments began around Lin¢oln relleth.ng gro%th in this area. After viwng a number of Properties, unrts at Weaver Road V￿re leased. These will house Linkage Choice's day services actiwties. mowng from a smaller nearby leased property, and also pro¥￿e much needed Corporate offices and meeting space in Lincoln. Bothe unrt5 will be brought into use in 2023124. The Trust also took the decision to purchase a new Residential Care propety to the south of Lificoln. Known as 'The Eagles,, this is a former guest house in excellent condition and lending rtself to growin9 demand from commiss¢oners in the area. The property requires some minor maintenance and redecoratson and again V•il be brought into L15e in 2023r24. The Trust conb'nues to be sensitwe to funding from Local and Central Govemment for rts aCti￿ties. Continuing work seeks to maximise funding and ensure the value for money of all ￿nkage services. Relats"on5hip5 wlh local authorities. e5pecialty in Greater LincdnshI￿ Ml the East RKling of Yot*shire continue to be key. In a challenging Financial landscape. Linkage's DKJrtalisalion strategy which was Launched in 2019 has been wtal in driwng effiaencies and in PToMding high qualty management informaty"on. In the reporb.ng period. a rthv Finance Sy51ern vrds instslled (to go live in September 20231, a Maintenance helpdesk 5y5tem went live, while new payToIVHR. IT hdwjesk and dI￿la1 we sTrt*ns *re idenlified for lmF4eMentatA￿ in 2024. Linkage entered the second yew of its current Corporate Strategy the ethos 'Nolhing about you wilhoul you", ¢ommitting lo ensuring that people leamiry disats"lths. aub.sm or both have opy)rtLtnities and choiGe and are supported to achieve their aSPirat￿n$. The Trusfs Care Serwces supported arourHI 160 wple in Resident￿ Care and 130 in Supported ￿"¥Ing services. Educabonal $eNces greav lo over 200 students, ￿ a fvrther ¢ohort enJo￿n9 the facilib.es al Beverley in the East Riding of Yortshire vknich vras opened in 2021. knnkage Choices opened for the first time in East Riding, shanng the educational campus. Summer 2023 once again sawthe opportunty to ¢elebrate success. Linkage held its graduation ceremrjw in the magnrficent Grimsby Minster with an opportunity to hear inswring stories from students as they move to pastures new. Linkage Choices hosted their annual show at Grimsby Auditorium - a high end venue for both performers and back-of-house supporters to shovrA5e their skth5 to a large audience. Page 2 UNKAGE COMIIUPIITY TRUST {A compary Ilmiled by g￿rantee} CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Fifial￿. l %KJukl like to pay tribute lo the hard and of almost 700 staff and volunteers plus a wide range of parents, supporters. $pon50r5 and other stskeholder5 have contn"buted in the past year to the achievements and successes of the Trusl. Mr PA A Smith Date.. 2610412024 Page 3 UNKAGE COMMUNITY TRUST {A company limited by guaranl•¢l TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The Trustees wesent their annual repth together with Ihe audtted financial stalements of the Trust for the year 1 September 2022 to 31 August 2023. The Truslees confim that the Annual Report and financial statements of the company comply with the cuThenl 5tstutory requirements. the requirements of the Trust's goveming document and the provisions of the Statement of Recommended Practs¢e ISORPI. apF4icable lo charitie$ prepanng their accounts in accordance wth the Finan¢o1 Reporting Slandard applicat4e In the UK and republic of Ireland IFRS 1021. STRUCTURE The Trust 15 both a company I"mrted by guarantee as defined by the Cornpanie5 Act 2006 and a registered charty. Its govemin9 documenl is the Al￿"deS of ASSOC￿li0n adopted on 1 May 2019. OBJECTIVES AND ACTMTIES Alms and Objectives The objects of the Trust are set out in the Art*les of Associatw. Mwe specrficalty. the Trust provides specialist further educats'on. residential care and communty support, adult skills and a range of employment servi¢es vA)rth, taken together. are intended to enable people leaming drfficults'es and other disabilrties to realise their full potential artd athieve independence. There has been no sub5tanty"¥e change in the ¢haritsble objects during the period under rewew. Slgnific•nt ktiviti During the year, Ihe Trust operated.. college Campuses in Toynton. Grimsby. Lin¢oln and Beverley in the East Riding", and sidential and day care servi¢es based in To>nttyb. Scremby. Skegness. Louth. Grimsby. AIIL)rd. n¢￿n and Mablethorpe. It also operated from more than 30'satdlites' I￿Sidents"al C￿ lyynes. St￿Yent ￿*￿enCes, Mwkshops. cafes elc) srtuated in East Lindsey. North East Lincdnshire and the Crty of Lincc4n. Relal•d Parties Linkage Trading Limited is a company 5imited by guarantee estsbli%hed to provide a vehicle for the conduct of commercial aclivities that support, Promote or Other￿Se enhance the aims and objectives of the Trust. Linkage Trading Limited is governed by its board ot dire¢ttys. allhovgh by dee¢J of Covenant dated 30 March 2001. the whole of the annual suwus of Linkage Trading Limrted. if any, is to be paid to the Trust. An option deed dated 30 March 2001 exists v4hereby al any time Linkage Community Trust ha5 the right to acquire the assets and undertakings of Linkage Trading Limited. Strategic Focu5 Our slrategy"Nolhing about Y￿ wthfwt yw. VAS launched in 2023 and ouuines how V•ill achieve our wsion that people learning disabilities, aL￿'SM or both have opportiinitses and Choi￿ and are supported to achieve their aspirations. 11 seeks to buikd on our achievements ¥thilsl also making the most of new opportunities and learnings. Throughout our 202>28 strategy period ¥￿ V•ill confinue to work across greater Lincolnshire and East Riding to achieve our ￿slon by delivering person centred senrices that enable individuals to develop the skills and behaviours to h.ve irKlependent INes. Our main ￿￿tieS throughout 202>28 are.. Impact- Increase the impact that seNces have on the peoFle ￿ SUPPO Capacity- Increase capauty to deliver highqualty serwces. Sustainability - Ensure the long-terrn sVStainatrJ"lrty by securing the Sup1￿￿1 ¥￿ need to keep us strong. and taking steps to ensure our environments. acliwties and organisats.on are fit lor the future. Growth- Grow the Charity to increase the number of people access our 5ervice5. Page 4 UNKAGE COMMUNITY TRUST IA Compa￿ limited by guarnnteel TRUSTEE5' REPORT (CONTIMUED) FOR THE YEAR ENDEO 31 AUGUST 2023 The plan sets out the Trust visKffj'. 'People ￿￿th leamirvj (*fficulties and disaknlilies have Opportuni￿eS and choice and are SUpp￿ted to achieve their spiration5'. The Trust's mission". To promde person centred services that enable indi¥idua15 to develop skills and beha¥iours to h.ve independent lives. The TNst do this by developing a ¢utture that embeds a 'nothing about 7Arthout you" apFffoach to shaping seNce$ and models of delivery ¥￿h inpLrt fr(yn the people it $upportS. We conb.nue to hold ￿rSelveS accountable for our progress in achievrng OUT full priorities through intemal monitoring and quarterty repThts"ng to our Board of Trustees. as ¥￿1 as through the pUblicat￿n of an annual report. ACHIEVEMENT AND PERFORMANCE The following pages highlight some of our major a¢hievements and ¢hallenge$ during 2022-23. In developing our strategy and accompanying actiwty plans, and in producin9 the annual report and accounts, Ihe Trustees have given due ¢0nstderatl￿ to the charity commissKJns for England and Wales published guidance on the public benefit requirement under the chanb.es Act 2011 as v*ll a5 the V•r)rk carried by kn"ntsge Is ¢onsistenl th charitable purposes as identffied m the Charities Act 2011. What we said we would do We want to help people reach their pthtial arKI be atle to INe the best INes possible. To do this we wll.. develop a ￿ltUre that embed$ a nothing aboul you *ilhout you approach across all our se￿l¢e$. improve the consistency of our practices to ensure all teaching is effective. that karning outcomes are the be51 they can be and that acb.ve support enabling indryiduals to ach￿Ve Iheir aspirations. improve the health and wellteing of the people support and our colleagu¢s. become a leaming organisatson. increase the opportunities for accessing purposeful acbwtses and employmenL lyJild effecbve partnerships. What we did In 2022-23 Linkage staff delr¥ered o¥er hall a mK*'on hours of support to people liwrlg in our resKlential care, supported living and communty services. We expanded our edu¢abon provision offenng 202 places to young people in our educat￿￿ provision and prO￿ded over 200.000 hours of support to peopbe attending ow day 5eryice opportunibes. We recrufted a Head of Positive Beha￿oUr Supptst to bring our positsve behaviour support and active support models in house. We revised our systems and processes lo enhance the rOl￿sIneSS of our data and devebped Power Bi a5 a Teptrb"ng 1001 lo focus moniloring risk and measuring the impact of our actions taken. We pro¢ured and commenced the implementation of the NI￿rish Dryilal Care SobJb"on gairmng over £90,000 of grant fvnding lo support this roll out. Page 5 LINKAGE COMMUNtTY TRUST (A company Ilmited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 ALIGUST 2023 We revised our data dashboard for Trustee5 in education i￿rpOratIng the feedback we received from Ofsted this year and completed a Tevivw of our rota system in weparation for the roll out of our Agile Working systems simplifying the ¢￿jIng and retraining our manager5. We developed our quality aThJ practice processes to enable us to see real time informabon for our learning outcomes and develo￿ out continuous improvement processes to focu5 on risk and evidence outstanding practsce. We introduced a sport cwriculum offer educaticyt and expanded the college enrtthment offer V￿th health- rdaled athities for students. We incorporated mental heamh awarenes5 into our enrichment and tutorial delNeries, and reVie￿d our dirM¢al referral proce55 and mulb"_di5cip1￿ary leam processes. We re-shaped our offer within Linkage Choices sessional a¢b"wtie$ now planned by the people we support. Performing arts remains one ol our most popular sessions and in July 2023 OUT team was proud to facilrtale 100 plus people support to provide a showto over 750 mernbers of the publ￿ at the Grimsby Audrtorium. We have Continued to make effecti￿ partnerships wth our core strategic partners Lincolnshi￿. North East Lincolnshire and East Riding and have been dosety wyking the Norlh East Line￿As￿l￿ Ice tts share opportUnit￿S and good practice. We became Rwid Povltr Teols Charty partner ol the year. gaining their Supp￿ nol onty to provide employment placements for people vAth leaming disabilities. autism, or both. txjl also raising valuable fvn¢Js for the tharty. What w* were not ¥l)le to a¢hiov• Linkage was una￿e to t1elNer some of the ￿anTred acti¥ib"es lor 2022-23 due to limited capacity. We have had lo priorrtise projects throughout the year to ensure that we a￿ best meeting the needs of the people vkno use our seryices. We wanted to roll out our PBS Strategy and active support tools auoss all our semces and models of delivery to deliver the best outcomes for our indiwduals. Ca aci What Y4e said we would do We want to be re¢ognised as a great place lo work with OFpNtsJniti"es for ColleagL￿5 to leam and grow and develop to meet the changing needs of the people vtho use our 5eNts5. To Ihi$ we VAII.. re¢ruit more people a diverse rnnge of ¢(wnmunities and give them the best 5UPPOrt so that they stay us longer and we all work together effecb.vely as one Linkage team develop a highly skilled agile and fleXI￿e Y￿rk for¢e vrti a l¢¢us on lifelong leaming. deploy our resource5 LJ5ing a hub and Spokes model to enable more effKient rota klanning, aligned to efficient models lor dtfferertt types and comrAexrties of serv1r￿S us￿9 leaner and irnwo¥ed systems and processes. utilise volunteers, dedicab"on. passion, enthusiasm. exs)erience and des*e to make a drfference to increase the scale and Scope of (lo. Page 6 UNKAGE COMMUNITY TRUST IA Company limited by g￿rantee} TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 What we did thi$ year We recrurted and devdoped over 221 new slaff. Our comprehen%ve induth.on and training process enabled 480A of appliCa￿e new staff to cOM￿ete the care certificate and their NVQ 2. with another 38% working towards their award. We have successfttlty in¢rease(l the diversty of our workforce and increased the number of male staff vkno provide direct frondine support from 22_64% in 2022 to 28.57% in 2023. We have aligned our recruitment strategy to fLUS on specffjc areas of recruitment ub"li5ing dats to enable us to quickly address current challenges and fvture need5. We have created flexible recruitrnenl inrtAtives and offered promolion opporlunrb'es staff during the year. We have re-introduced face to face training many courses. 97% of all our staff now have comFleled their mandatory training wthin agreed time scales. We have introduced a FK)sl inridenl rewew wocess to ensure stsff are able to learn from events and put in place new stralegies lo wevent reoc¢urrence. We have estatlished a hub and spoke mc4lel to enable more eff￿ent rota planning al￿ned to efficient delivery models fot differenl types and complexrties of seNces using ￿￿ner and improved systems and processes across our ca￿ and Independence ser¥ice5. We have developed risk and establishment data dashboards for all directorates to focus recruitmenl and re50uTces in the area5 that need the most and we have maximised delNery in Education through wss site teaching ￿ learning. We have developed a Friends of Weelsby Hall Grwp to focus on history research and fundraising for our Weelsby Hall Project focusing on the dedication, passion, enthusiasm and desire of volunteers to make a difference. We have gainetl fundraising from UKSPF for a part time wlunteer manager who thfjll establish further opportunities for volunteer development across the Trust We have uldi5ed work experEnce opportunits'es from local universities and higher educatton in51itules including Bishop Grosseteste University, Universty of Lincoln an(1 East RKling Colbege and have suc¢essfully based on their pOS￿¥e expenence recruited these indryiduals upon graduab.on into the U"r*age 7hrrkftyce. We have increased the percenlage of commissioned hwrs delivered by 7.6%. What we were not able to achieve Linkage was unable lo deliver some ol the planned acliyits.es for 2022-23 due lo limited capacty. We had lo priorits'se prqects throughout the year lo ensure that V•E are best meeting the needs of the people who use our services. The development of a v￿kfc￿e plan that a￿d￿sseS bolh future current needs was planned for this year but was delayed. 11 has taken longer than expected to establish a risk and establishment prO￿sS vthere we align client support hours and staff availability across each area. Page 7 LINKAGE COMMUNITY TRUST IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 What we said we would do We are working to ensure our long-teffli susLiinability by Se￿ring the support ¥￿ need to keep us strong and taking steps lo eft8u￿ our en¥ironments. acb"vitses and organisation are fil for the future. We want to.. be a finanaalty strong chanty. atle to rein¥esl in our seNces and lo create enwronM￿tS vknere people leaming di5abililies, autism or ixAh can fl￿rish. diversrfy ¥nd strengthen our inwme 5tream5 by conts"nuing lo ensure the statutory entrtlemenl for people and all our co$t$ are covered through our fees. increase the eff￿lencY of systems and processes, inve$ling in dwital systems solutions and Pr￿esseS to enable Colleagues more adive SUPFXYt through investment and technology sy5terns and work flow5 to support the leaner processes. enhance our environments so they are eneryy effiuent and fft for purpose. Whal w• dld this y•ar We invested heavity in ow digrtal solUt￿nS and &￿red the Nourish Digrtal Care System. We Pfocvred and implemented a new finance sysltrn proNith'ng new reporb.ng and opportunib.es for us to gain more accurale reporting and rfomiab'on. We deployed P0￿r 81 Dashboards including data on staffiTrJ resources and contracts ￿ the people we 5UFQOrt are maintaining propety ¢omplrJn¢e dats to all managers. We UFxJated our PlanDay rota system ￿ con1wK1K￿ with some of the systems above to deliver Agile Working. We undertook a fee review process *ith al care arKI indepentsnce ￿MMisSionerS to ensure that fees paid cover au our cost5 of delwery_ We continued to *t)rk with commissioners to kxjk at alternative model$ for delivery of safe specialised SU5tsinable Services that add value and have developed MO￿ longer-tem) supporters and trusts Ix4sine5S families and others including the Nab"onal Lottery Heritage Fund, Pi&rim Trusl. Our famih'es have been exlremely generous arKI donated funding ¥*d vehicles to improve the quality and opptsrtunity Yor their love¢J ones. We undertook a programme of investrnents and imwovements to our ￿sidential housry including the replacement of kitthens and bathrooms. warm Toof5 w ¢Mservalr￿s making Ihem mofe usable spaces both in the heat of summer an¢J in the coaler winter months. We created an indusive and suStaina￿e project for Weelsby Ham and secured over £300.000 ￿￿)rth of funding from the Nats"onal Herrtage Fund. Pihjrim Trust. North East Linc￿nS￿lre Council towards the development stage of the project. We rationalised our property portfolio disposing and seeking lo dispose of Prcpe￿.es that no longer fit the needs of the people we 5UPPOrt. and we have invested in energy effio.ent solutions. Page 8 UMKAGE COMPJUNifY TRUST IA company limited by guarnnteel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR EIIDED 31 AUGUST 2023 What wer• not able to a¢ttieve Linkage was unable to deliver some of the planned a¢livibes for 2022-23 due to limited capaw. We were not able to progre$$ ￿r green agenda as far as ￿ Mluld have Vlished. We are conts"nuing to work to reduce thjr carbon footprint by reduung the number of miles staff travel betsveen srtes, utili*ng technc4ogy and digital solutions. We have also been una￿t to engage ¥￿th all commissi¢)ners to raise fees to an acceptable level In all areas. This work remains ongoing and V•ill be a key focus for us in 2023-24 and we have not rolled out the new finance system to al managers as the project took hjnger to embed than was expected. What we said we vmuld do We want to grow the charity increase the nLmber of people tAI)o a¢¢ess our ser¥ices. Grobth is important to U5 as a charity as it enables us to do more for more people. It builds up scale and vthen commercialty viable it protects our long-temi 5ustsinath"lity. We want to grow our serw¢es $0 that we can ijeliver more thtngs for more people and be the 'go lo, provider for young people and young adutts, families and cthnmis$ionef$ in our operaling areas across Lincolnshire, Easl Rithng. and Cxbr neighbouring countses. We wll.. build our ￿pUtation suppvting people learning disabilibes and autism to lead more independent Ir¥e5 acro55 all the Gommunities in vknich we work. reach out to families and sch¢xAs to lake our seN¢es wthere and when people need them. expand opportunib.es and choice by providing more support to day opportunities, education and employment servi¢es in MO￿ locations 50 that more peopk can access them. expand long-term INing opportUn￿"es, erther directy or through parkners v* prwde accommodation to enable people to INe their lives as they vrdnt. develop more services lor young people. increase our offer to 1&17 year olds Providing residentr.al e(lucalion and accommodats.on for those Iransib"oning to aduknood and enabling those out of a￿a to move back to their commvnty. What we did this year We undertook an evaluation of our sensory bus and librarfs wyxk over the last 3 years. During thi5 b'me. we have 5UPPOrted.. 300 people, partners, careTS to have better Copy￿ strategies. Supported 668 beneficiaries were able to leam and vAyk together as a team. 668 benefiuaries I￿re able to lead more independent lives. 300 families. carers and organi5ats.ons fell better able to suppcrfl those that they ca￿d for. 668 beneficiaries ¥￿Te happier and healthier as a iesuw. 3 volunteers fett they had more ￿nfidenCe, skills and ￿tre hapFrfer. These activities had a positive impacL delNering a swal relum of £5.89 for each £1 invested in this area. Significant impact was in Tdalion lo good health and %￿lIbeIng and qualty educab"on. We have developed our next markets.ng and communKotion strategy. We have expanded our Ch￿"CeS Day o)portunibes in East Ridin9 and now wobtyde 10 places. We have acquired a new property V4thich is planned to open in mid-2024 to increase capacty to our Lincoln area providing accommodation for people to live thar lives the way they Trmsh. Page 9 UNKAGE C¢)MIAUMITY TRUST (A company limit•d by guarnnteel TRVSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 What we Y4ere not able to achieve Linkage was unable to deliver some of the planned acty"wb"es for 2022-23 dL* to limited ¢apa¢ty. We had to prioritise projects throughout the year to ensure that we a￿ best meeting the needs of the peop￿ vtho use OUT serwces. We have yel to develop more $eryiee$ for young people. Through extemal evaluation we Chose lo close our children's and families worker seNce as this VAS not prowding Value for money and did not have the impact that V•E wanted. GOVERNANCE AND MANAGEMENT Trnstses and Diwectors l The Board and its su￿orn￿ltieeS The TNSI Is governed by a Board of Twslees meets eight times a year on a pre-planned basis, and more frequenuy sf required. In addib'on the Board has an annual stralegy day and Trustees receive financial and other updates be￿een board meetings. All Trustees give ol their time freely. Trustees are required lo di5c105e all relevant interests and la ￿lthdraW from any decision5 ￿Te a conflict of interest arises. No notice was received of any Changes to Tru$lee$ inleiests in the year. The Trustees served the tfU5t during the year are h.sted ￿ page 1 of thi5 repDrt. R•cruitm•nt and Appointm•nl of New Trusl••s Subject always to the requirements of the law and the Trusf5 Arb"cks of As50¢iab"on, the Board is empowered to appoint as a trustee any FersJ) who is willing to a¢( ether to a ¢asuaJ wacancy or by way of an addition to the Trustees. Inductlon and Training ol TntstÉ*s A programme of induction and development has been available to all the Trustees, covering all the main features of the Trust's acty"¥ities and the duties and responsib.1￿.eS of Trustees. In addity.on rnost rneeting5 of the Board are preceded by a Trustee Development Se55K)n, vknere wesentali￿$ are made lo the Twstees on vaiious aspect$ of the Trusvs a¢b'vities and on developments ￿ Ihe enwronment in the Trust operates. Organisational Structure Responsibility for earh major area ¢1 acb"¥ty (Ca￿. Educa11￿ Fbnancel is delegated to wthat Linkage {bLrt not Ccmpanies House) describes as a 'Directorf. each of vhom reports to the Chief Executive. The Chief Executive and the Oirectors make up the Executive Leadership Team IELTI, which Teports ￿gularlY and roubnely lo the Board of Twstees. Remuneration of Key Managemenl Pevsonnel The remuneration of key management personnel 15 reviewed annual basts by the Finance Committee. Widgr N•twork$ M•mb8wshlp The Trusl is a full member of the Association of Colleges Iprowding an umbrella over the entire FE sttlor), Ihe A551Kialion for Real Change (pro￿ding an umbrella over the care 5ectorl, the Bribsh Association lor Supported Employment. the National A55ttiation for Spe¢ial Educational Need$, the National As$ociatson of Specialist Further Education Colleges, the National Counul of Voluntary Organisations, Voluntary Organisations Disability Gro￿ and the Lincolnshire Chamber of Commerce. Key Stak•holdws other organisaticns wlh vthich the Trust *tirks dosely include the Education and Skills Funding Agency, local authority Social SeNces and other departments, vaTiOUS inspecb.on regimes {especially Olsted and the Care Quality Commission) and a number of qualty assurance organi5ab"ons. Page 10 UNKAGE COMMUNITYTRUST (A Company limited by guarnntse) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Working In Partnershlp Both formally and Inlomi*ty. the Trust I￿rkS c105ely and cdlaborabvety *ith a V•ide range of other seNKe promders. including mainstream and sperialist FE cclleges. housrng associations, local authonties. ¢)ther care promders and local employers. both 1ndi￿au011Y and through a varrty of professional netJ¥orks. Risk and Uncertainty The 8oard of Tfustees is ulb'malety resP￿S1￿e for Risk Management. The Board rewevts key risks and the adequacy of mth'gation actions on a wular basis. A ¢omprehensNe annual planning and budgeting process is approved by the Board during %ths¢h a thorough asse$$ment of key exlemal and intemal risks is undertaken. The Board also receive5 risk evaluth'ons on any new major areas of acb"Mty. With the 2023-24 business year underway, we have implemented new and improved risk management framework which aims to lake a deeper dive into our risk register and further embed risk management in the organisalion. We have reviewed our risk appetite for gro%th and key proj'ects are reWe￿*d against this. This new approath is designed to enable the Board lo express its high-level nsk tolerance and to infomi strategic Ch¢￿Ce and direction. Linkage understands the strong ¢onnedion betseen risk management arKI risk assurance acts"wties. OUT top 7 h￿h level Tetsined risks are.. Rlsks L055 of key ￿aff tigation . Career patrMWS ￿ ￿CeSSion pL4nning de%ekfJed . Tr￿n￿e￿￿nt aThJ ￿￿jership (k%ekprrEnt prcrfJranYres Agree ￿)￿'¢e peficds aThJ hando*rs . De*kpTErf cperatiThJ prc¢wkJres to rribgate fwlure fr￿ b$5 of . The use of IT Syst￿￿ to create sl¥tsd yc¢esses. and hamng Digrtal Chanyons &rc6s the I￿￿lSa￿.0n Rthq'ew and de* RecruilThErt ar￿ R*ntion poScies and stralegies - including pericdic slay ¢￿￿sa￿.0n5. learning ar del¢kP￿ platfom benefits packages . ReM"e4V cl rewards rwnition (A staff Succession pl3nnirvJ . D¢xthi*nted systems. and pr￿ts lffplmnt traning WC#Jran . Rwe*V and •Jree TecrUrtn￿nt pr￿e￿e$ . Prcm)te succe55es aTrd gocd news stories PIC￿￿ti* ftBna9￿￿nI and ccxnnJnicalJon of change R￿"eW indimdual seTricethcatson mats.lity . CcxYmJnic* witt) FundeTsICoFrfriwcfftrs DriiiThJ ¢rffI¢ie￿Y 1hr¢￿h use of slaff rescKtr¢es Renegth"ab"on of L￿alAU￿orIty funding (Residential Carel Ltse of LA Ftsrdship Funds . ￿"ng n**"¢e ￿ un$Lth1￿￿ pxkages Agik w0￿"r￿j ￿￿kn"¢e$ to increase &ficiency FundirvJ fails fo keep up *ilh the ost increases frcrfn e￿ern Circun￿anCes ard p￿itiCal charoe Page 11 UNKAGE COIIJMVNITY TRUST {A company limiled by guarantse) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Potentia finan¢i* unsustsinabih'ty of C¢nmJnity SLWOrted ing serKi¢es AI Work related to Q10, 013 & Q14 vthich wl 5UPPOrt the recrvrtrW￿ rekntim of vLJrkfcK¢e to enaNe Ihe ddi*ry of ¢C￿rr￿ted CSL FkyJrs . C￿tinued I￿v5 ￿ rda in al CSL seNces ReguLar rr￿nrtcff1r1J of cwpacity v5 hjurs Ma the Fl"sk aThJ Est2J)lishrrent prcress C0nb.nL￿d dI￿￿￿(￿S LCC re slaffing capacity anrj potents.al inyxts Agi* *Drklcffce inckndirrfJ vK)rking to contsnue . L￿al nw)agirKJ k¢al seThices lo support bgtsr integrab.on te￿leen CSL and Residenba Care sersices IT syst￿￿ failure. crf dats, . Rem.￿sYSte￿Gleq￿1Ie1r£nts cyber ￿Urty attacks . Atyee wjate prc*Jraft . (Xf.srte bxk.ups to secure aTrJ Prclect data . ReM'e4V security Ilrus protec1.￿ systen Insurance cow fcw irwra)le risks Cyber PrcrteLts"on I I￿rance,. enhanced third p•ty mnituing BCP IT Disaster R￿0￿Y Plan . Depathvtsl Bugrw Recow Pbns Cyber E$￿ti* A¢creditstityTr (P￿$ in future) ISO 27￿1 accr&Jitsb"cn in the future . A¢klibupl Resources rescwces specifKaty fcf recruitrrent and fccus on Care staff IrryXo￿d 1nducb"￿ * trainiro pr0jraffw￿S corrrrun1calj(￿ Idrrpins. Ctyr¥nunication Pktters. alkstaff online briefiThJsl . Fie>itrle vawe aK)rcy* . ReM"ew and deKeky Recruitrrpnt WKI Retentson pofioies and strategies - IncK￿1n9 pen¢xli¢ slay ¢onWsati￿$, learning and de￿eb￿nI pkttorm aThJ benefrts package5 Rthiew ￿ enpkryee T&C$ {Agile wykingl . Ltse of PknDay a￿1 Tr￿b rrt¢Jel to best depby wykforce Wrxk to inTJfOKt fundiryleffic1w￿Y to en* LJ"nkage to impro¥E d eOndth"c￿S . Better marketirg braTrJing . Cwy5tert supeTh15ion5, 1".1s. awJraLsa15. Team Meetings F•￿Te to recTUit ar￿ retsin slall Page 12 UNKAGE COMMUNITY TRUST IA company limited by guaTrntee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Ser%ice Dellery Fathjre . &aff p[￿en￿1)yrreMI Ch￿kS . V*alory training program . wh1￿bI￿n9 pokcy . P•knJerrEnt and supmisory owsighl d seN¢es Safegu*(Jing rr￿l￿rtg, rerrtkn'r@ f¢)￿￿uP action . Remew d prrKesses in fight cl evie￿e V*¥ti¢e i￿Jrarte Increased iisstd"k"ty, F￿ad of saf￿Ju8r￿ln￿ apwnted Incident reporting pr￿esseS . Atss reKKVt"ng of key indrcatcrfs r(4ed to aid cMtrols Athgning ser¥ices trj audit aTrJ reguLatory b)* requiren*nts". Shapiny senice5 around *akehth feedback requirenpnts Safegwding polcy ar*J prcc&Yures Al &aff Iraine(l in ts w1￿1p￿S d SafegwdirwJ and Linkage P(*cylProLedures I￿￿01r0 rebitrNof safe￿arding cases by DirectLYs Anatygs ol indiiidual cases ￿ owal trerKis by the He&J of Jality and Safeguarth"r#J . CoyprehenY￿ audrt arkl rerrtybr#J CC￿￿"￿V￿5 kning a￿D￿h to safeguarding, adapts'ng training and1￿ P&Ps fobl￿rY￿ on from significant Cases andlor identified tr￿d5 SafegLwding F&kJre Public Benefit Reporting When reviewng the Trust's obiectbves arKI ams and in ￿annIng fijlure acts¥￿.eY, the Trustees confirm that they have complied with ielevant ￿gis18￿.0n and have pabd due regard to guidance published by the Charity Commission. The Trustees have referred to the guioance and have aimed to summarise the activibes in this report and lo demonstrate that they have helped further the Trust's aims and objectives as detailed above. LINKAGE STAFF Major Achievements The staff al Linkage remains its greatest asset. Their commrtment to the education, care and WElfaTe of the Trust's dienls has remained con%stentty high. Year on year. the achievements of all the slaff are reflected in personal targets and reviewed in annual apwaisals. Performance against target5 buitt into each service's operating plan is also monrtored roub'n* and reviewed annually. Dufing the period under re￿tw, the Twsl's Care services continued to obtsin con$istentty high grades from the Care Quality Commission and the Linkage College Ofsled maintained 11$ rating of 'Good' wilh OLrt5tsn¢Jing elements, in its last inspection. Employee Involvement and Staff Development Linkage has possessed Inves￿ in People OIP) sLthis ￿nce November 1995, and was successfully r&assessed in 2017. The Trust's commitment to trainrng and development is Considerable and seeks both to enhance the qualty of ils work and to maintain its en￿¥ble market po$ib"on. Variou5 means are emrAoyed to ensure that stsff at all levels arKI at all sites are informed of and a￿e to ¢ontn'bule to de¥elopmenls OCWTing acr05s the organisalion. Although there is no formal trade union involvement. a Linkagfrv*ide con$ultatsve body. the Staff Representatsves Group, ensures staff have a voice. and assists the Executive Leadership Team In de¢i%on making. Page 13 LINKAGE COMMUNITY TRUST (A ¢ompany lirnited by guarnntee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENOED 31 AUGUST 2023 Disabled Persons The Trust'$ policy is to gi¥e fvll and fair ¢￿sideratI￿ to applicati(￿$ for employynent ma(le by disabkd person9, having regard to theif particular aptsiLKles and a￿litieS. Disabled employees receive appr￿)riate training to lacilitsle and encourage career development. EmFdoyees becorne disabled are retsined in their existing posts vthere p05SitAe or retrained for 5Urtable altemative po5ts_ The Tru51 Gontinues to use and develop rts commitment lo Ihe't*v ticks, disabilty womoted by the Department fly Work and Pensions. FUTURE DEVELOPMENTS Strategic Planning The strategic plan has recentty been updated for the five years from 2023 to 2028 by the Board of TTV5tee5. The plan ouuines the joumey for the next five years and sets out clearty the Trust's wsion. mission and values, and the actions the Trust wll take to achieve its obJ'ects'tsEs. FINANCIAL REVIEW Summary of the Resufts for 31 August 2023 The Trust has continued to post a posrtwe operab.ng surplus fc< the year befDre propety revaluations and actuarial gains of £714.358 {2022" £578.7811. The overall results for the year futher kn¢KMle the effects of actuarial g•ns on defined benefit pension schemes and propety revaluats'ons. Net movement in funds for the year ¥4ere £569,358 (2022.. £1,200.7811. Reser¥es Policy The" Board of Trustees ha5 revie*Ed its reser¥es policy and re-examined the Trusl's requirements for free reseryes in light of both the predominant risks to the Trust and it5 need lor working capital. In completing this revtew Trustees analysed existing funds. a5ses5ed ihe reliabilty of future income Streams. reviewed committed expenditure and the extent to vkni¢h rt is contrdlable and assessed the risk. to identify potential Comrnrtments and contingencies, together the likelihood that these risks will materialise and give rhse to new commitments. This assessment placed the minimum requirement of free reserves ai £1.6million. As at 31 August 2023, free reserves V￿re £3.381.41312022'. £3.635.492). Principal Funding Sourc¢$ The TnJst'5 principal funding source has awdys been the public purse.. *ith various agencies of govemment funding ils education and care ser¥ices. In recent years, Linkage Cdlege ha5 been funded by a succession of national lundin9 agenryes, m051 Tecentty. the Educab"on and Skill5 Funding Agenry. but now with decision making and an wnportanl elemenl of lunding dev¢l¥ed to loGJ authoritie$. Funding of Linkage'5 cafe serwGes continues lo be delivered by I￿1 aLrthority s￿)31 sep¥ice deparlments. Fund$ In Deficit The Trustees are not aware of any fvnds being overspent As the balance sheet illustrates, the Trust has assets vhich are sufficient to meet the Trusfs ot4igations on a fvnd by fund basis. 11 is also v￿rth noting that budgetary controls are in ￿aCe vthich do not pernrt funds to go into defiul Fundraising Activities For most of rts history, the Trust has been able to rely upon fee income from acbvrb"es. In ￿ent years, however, it has become increasingty clear Ihat. if the Trusl wishes to maintain its pursurt of excellence and to benefit from opportunities to explore new markets and test new services. it will need to develop a non-fee based income stream. For this reason, it has embarked upon a fundraising campaign. Page 14 LINKAGE COIAMUNITY TRUST IA company limit•d ty guardnt•el TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR EMDED 31 AUGUST 2023 Investment Policy and Objectives The Trustees. investment povers are prescribed in the Tru5Vs Arb"cles of Association. The Trustees are permrtied to invest any monies of the Trust not immediatety required for its purpose in or upon SLtch investments, securities or propety as the managemerrt committee shall think fft and is allowed by law. During the reporbng period, the Trust's investment portldio vrds managed by Kingswiod Group (In associal￿fi *ilh JCH.. Management Services Limited). Intemal and External Factors The Trustees have made a full assessment of the intemal and exiernal factors that may affect these financial $tatemen15 and do not deem any factors material enough to have an impacL Funds h•ld as Custodian for (Xhers Included In creditor balances is £559.78312022 £485,154) due to students and residents in respecl of monies held on their behalf in bank a¢¢ounts in the Trusfs name. This amount is also in¢lude(l in Ihe figure for cash bank anij in hand ￿ the balance $heeL Apwoved by 2610412024 order of members of the of and signed on thw"r beholf by". Trustees on rMASmith Chairnian Page 15 LINKAGE COMMUNtrY TRUST IA Mmpany l•mited by guarantee) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2023 The Trustees (who are a150 Ihe directors of the Trust for the purposes of company law) are responsible for preparing the TnJstee$' ￿POrt ffi¢luding the Strategic report and the financial slalements in a¢¢ordan¢e wth applicable law and United Kingdom Accounting Stand¥d$ (Urnted ￿'ngdoM Generalty Accepted Accounting Pracb"cel. Company law requires the Trustees to prepare ffinancial statements for each financial year. Under company law. the Trustees must not ao)rove the financial ststements unless they we sat15fied that they give a trve and fair view of the state of affairs of the Trust and of its incoming res¢xJr¢es and appli¢atitsn of resources, including its income and expendilure, for that period. In wepanng these financial statements, the Trustees are required to.. select Suitable accounting policies and then appty them consistenty,. observe the methods and prinuples of the ChanD"es SORP IFRS 102)". make judgments and accounb.ng eskn"male5 that are reaSC￿ab1e and prudent,. state vthether ap￿ICable UK Accounting Standards (FRS 102) have been follow￿, subject lo any materBI departures disdosed and exF4ained in the financsal statements", Fffepare the financial statements on the going con¢em basis unless it is inappropriate to wesume that the Trust will continue tn business. The Trustees are re5pon5ible for keeping adeqLtale accounting records that are sufficient lo show and explain the Trust's transa¢b"ons and disclose ￿fjth ￿asonalIe accuracy at any ts.me the financial position of the Trust and enable them to ensure that the financial slatemerrts compty the Companies Act 2006. They are also responsible for safeguarding Ihe assets of the Trust and hence for tsking ￿aSOnable steps for the prevention and detedion of fraud and olher irregulanb"e$. Approved order members of Board and ￿gned on rts behaw by". Trustees 2610412024 MrMASmith Chairman Page 16 LINKAGE COAIIIIUNITY TRUST (A company limited ty guarant••} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UNKAGE COMMUNITY TRUST Opinion We have audited the ffinanaal statements of knnkage Ccffimunity Trust {the Iwsfi for the year ended 31 August 2023 vknich comprise the Statement of financial acts'vities. the 8alance sheet the Statement of cash flov+S and the ￿lated notes. including a summary of ￿gnIf￿nt accounts.ng policies. The financial reporb.ng f¥amework that has been applied in their preparation is aPFAicable law and United ￿.ngdOrn Accounting Stsndard$, including Financial Repo￿.ng Standard 102 'The Financial Repo￿n9 Standard aPpI￿A￿e in the UK and Republic of Ireland. (Unrted Kingdom Generalty Accepted Accounting Pracbce). In our O￿nIOn the finanaal statements". give a true and fair view of the stste of the charitat4e companls affairs as at 31 August 2023 and of its inc¢yning resour¢es and application of resour￿$, including its incc*ne and expenditure for the year then ended., have been properly prepared in aCc￿danCe with Unrted Kingdc*n Generalty Accepted Accounting Practice,. and have been prepa￿ in accordance *ryth the requirements of the ComparEie3 Act 20￿. 8asis for opinion We conducted our audit in accordance Tmih lntematiL￿J Standards on Auditing IUK) IISAS (UK)) and applicable law. Our responsibilits.es under those $tandards a￿ further described in the Auditors, responsibilities for the audit of the financial ststemenls secbon of our report We are independent of the charltable company in accordance th the ethical requirements that are rdevant to our audit of the financial stslements in the United ￿ngdorn, Including the Financial Reporting Counul's Ethical Standard, and we have fulfilled our other ethical re5ponsibilib.es in accordance with these requirements. We beI￿ve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our O￿niOn. CoDclusions relating to going conwn In auditing the financial statements. have ¢onthded that the Trustees, use of the going concem basis of accounting in the preparation of the finanoal statements is appropriate. Based on the work have perfomied. * have not identsfied arry material un¢ertaintses relating to events or condits'ons that, indimdualty or c￿leth"Ve￿. may cast Slgnthcant doubt on the charitable companls abilrty to Continue as a going concem for a period of at least trweJ¥e months from vknen the financial statements are authorised for issue. Our ￿ spMsibilities and the responsi￿.1￿eS of the Tntstees ¥*ith respect to going concem are described in the relevant sections of this Teport. Page 17 LINKAGE COMMUNITY TRUST (A cJt the aud A further description of our responsits.1￿.e$ for Ihe audit of the financral statement5 15 loGaletJ on the Financial Reporting Councd's ¥￿bsite at.. V+W#.frc.or -uklau ilorsres This descnpb.on fomis part of our Auditors, Teport. Page 20 LINI(AGE COIIJIIJUNITY TRUST IA c¢mp•ry limited by guarantee) INDEPENDENT AUOITORS. REPORT TO THE MEMBERS OF UNKAGE COMMUNITY TRUST (CONTINUEOI Us• of our report This report 1$ made $olely to the charilable Company's members. as a body. irb accordance Chapter 3 of Part 16 of the Companies Act 2006. Our audil has been undertaken so that might state to the charitable ¢ompany's members those matters are required to state to them in an Auditors, report and for no other purpose. To the fvlle5t extent permitted by law. V•E do not accept or assume responsibility lo anyone other than the charitable ¢ompany and fts members. as a tody. for our audil work, for this re[￿rt, or for the opinior)$ we have formed. Robert Andernon (Senior st•tutory auditor) for and on behaw of Stre•ts Audit LLP Chartered Accountants & Statutory Auditor Tower House Lucy TOv￿r Street Lincoln LN1 1XW Date." 2910412024 Page 21 UNKAGE COIAMUNITY TRUST {A cofflpany limited by guarnntse) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDEO 31 AUGUST 2023 Restricted Unvestrlcled funds funds 2023 2023 Tolal funds 2023 Tolal lunds 2022 Income from: Donations. grants and legaues.. Donations Grants 5.321 318.870 44.414 49,735 318,870 19.109.164 21.812 31,855 507,361 76,524, 789 34,380 charts￿e ackn"￿tIeS Other trading a¢tiwbe$ 19.109.164 20,910 Total income 325.093 19.174.48a 19.499.581 17.098,385 Expenditure on: Raising funds.. Expendrture of voluntary wKome Fundraising expenses Charitable acb"wtie5 Other expenditure 410.899 410.899 SO.63S 18.358.868 118.0001 415,350 91.625 15,945.226 (36,500) SO,63S 18.358.868 {18.0001 10 12 Total ¢xpenditur¢ 410.899 18.391.503 18.802.402 16.415.701 Net {expenditur•ifincome before nel gaon￿{lO$se9I on investments Net gainslllos$e$l on inveslmenls 185.8061 782.985 17.179 697.179 17.179 682,684 (103,903) Not l•Jtpendlture) l income Transfers bets￿n funds 18S.8061 {2.948.6321 800.164 2.948.632 714.358 578,781 22 Nèt movement in funds ￿107? ott*r r•cognised gainslllossesl 13.034.438) 3.748.796 714.358 578, 781 Oth•r r•Cognis￿ gain51llosses): Ac￿arial gains on defined benefrt pension schemes Dere¢ogniknon of define(I benefft pension scheme surplus 28 40.000 40.000 987.000 28 1185.0001 1185.000) (365.000) Net movement in l￿d5 13,034,438) 3.603.796 569,358 1.200, r81 Page 22 UNKAGE COIAMUNifY TRUST IA company limited by guarnnt••) STATEMENT OF FINANCIAL ACTIVITIES IINCORPOIIATING INCOME AND EXPENDITURE ACCOUNT) (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2023 RestA¢t*d lund$ 2023 Unrestricted funds 2023 Total fund 2023 Tol81 2022 Reconciliation of funds: Total fvnds brought forward Net movement in funds 3.326.047 (3.034.438) 19.832.205 3.603.796 23.158.252 569,358 21,957,471 1,200, 781 T¢tal lunds cartled for4vard 291.609 23.436.001 23.727.610 23. 158,252 The Sl*ement of financial adiwties indudes all gwns and losses recogniseil in the year. The notes on pages 27 to 54 form part of these finanual statements. Page 23 UNKAGE COMMUNITY TRUST (A company limit•d by guarantse) REGISTERED NUPABER: 01240377 8ALANCE SHEET AS AT 31 AUGUST 2023 2023 2022 Fixed assets Tangible a55els 16 21.322.117 20.536. 112 21.322.117 20.536.112 Currnnl assèts Debtors Investments Cash at bank and in harKI 2A51,254 2.393.$40 861.285 1.997. 771 2.376,361 2.530,504 5.706.079 6.904,636 CreditOfS'. amounts tslling due wthin Me year 20 (2.417.239) (3.265.817J Net current assets 3.288.840 3.638.819 Total assets less current liabilities 24.610.957 24. 174.931 Creditor$.' amounts falling due after more than one year 21 (883.347) (1,016.679) 14et assets ox¢ludlng wnslon asset 23.727.610 23. 158.252 Total net •tsets 23.727,610 23. 158,252 Page 24 UNKAGE COMMUNITY TRUST IA company limited by guarnnt••) REGISTERED IIUMBER: 01240377 BALANCE SHEET ICONTINUEO) AS AT 31 AUGUST 2023 2023 2022 Charity funds Restn"cled Unrestri¢ted funds 22 291.609 3.326.04T Designated funds General funds Revaluatson reseNe 22 126.960 17.940.620 S.368.421 144,000 14.319.784 5.368,427 22 Total unrestncted funds 22 23.4J6,001 19,832.205 Total fvnds 23.727.610 23, 158,252 The Trustees acknovAedge theif reswnsibilrties for cmiptying thiih Ihe requirements of the Act with respect to accountsng records and preparation of statements. The financial $t*ements ￿Te approved auth0ri5ed for i5$ue by the Trustees on 2610412024 and signed on their behalf by.. Mr M A Smith Chaimian The notes on page5 27 to 54 form part of these finanaa statements. Ggnval funds analys1$ 2023 2022 Amounts Invested in Land and Buildings Loans Secured on Property Free Reserves 15,575,886 11.834.303 (1.016.679) (7. 150.01 IJ 3.381.413 3.635,492 17.940,620 14,319.784 Page 25 UNKAGE COMMUNITY TRUST (A company limited by guarnntse) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Cash flows from operdting •¢tfivrtie$ Nel cash generated from l (used inl operating acb"Nib"es 1645.831 632,659 Cash flows from investing activltles Proceeds from the sale of tsngible flxed a55ets Purchase of tangl￿e fixed assets 232,800 (553, 757) 1890.056) Het cash us•d In Inv•sfjng a¢tl¥itl•s 1890,OS6) (320,957) Cash flows from financing activities . Repa￿￿ents of boTT￿ing 1133.331) (133,332) Met cash used In financing acti¥iti•s 1133,332) (733,332) Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 11.669.219) IS30.504 178,370 2.352, 134 Cash and rAsh equivalents at the end of the year 861,285 2,530.504 The notes on pages 27 to 54 form wt of Ihese finan¢ial slatements Page 26 UNKAGE COMMUNifY TRUST (A company lifflited by 9uaranteel NOTES TO THE FIIIANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 General information The Trust is a chantsble company limited by guarantee in¢orporated in England and Wale$. The members of the company are the Trustees named M page 1. In the event of the Tru$t bein9 *M)und up. the liabl￿'ty In respect of the guarantee is limited to £1 per membef of the Trust. The Trust's registered office 1$ Toynt¢)n Hall. Main Road. Toymton Al Sairts. Splsby. Lincolnshire. PE23 5AE. Accounting policias 2.1 Basis ol preParnti￿ offinancial statements The financial statements have been prepared in accordance *ith the Charilies SORP (FRS 102) - Accounting and Reporting by Charitses.. Statement of Recommended Prathce applicable to charits.es preparing their aGGounts in accordance tmth the Financial Reporting Stsndard applicable in the UK and Republi¢ ol Ireland IFRS 1021. the Financial Repo￿ng Stsndard appluble in the UK and Rep￿IC of I￿land IFRS 1021 and the Companies Act 20C6. Linkage Communty Trust meets the definib.on of a wblie benefft enbty under FRS 102. Assets and Irabilities are inib'ally recognised al histtirical cost or transacb'on value unless otheThMse stated in the relevant accounting policy. 2.2 Consolidation These financial statements represent the ￿ureS of the Trusl only. Consolidated financial statemen15 have not been prepared on the basis that the subsidiary company is not material to the financial Statements. 2.3 Incom• All income is recognised once the Trust has enlrtlement to the income, rt is probat4e that the income 7th11 be ￿CeIved and the ￿oUnt of In￿Me rec*vable w be MeasU￿d reliably. Grants are included in the Statement of financial actswtse5 on a receivable basis. The balance of income received for speafic Pufposes bui not expended during the period is shovm in the relevant fvnds iyl the Balan¢e sheet. Where income 15 re¢eived in advance of enlitsement of receipt. its fe¢ognition is delerre(l and induded in Gredittys as deferred inGorne. Where entiuement occurs before income is received. the income is accrued. Where the donate(I good is a fixed assel. rt is measLrtI at fair valve. unless il is imprath'cal to measure this reliably, in case the cost of the item to the donor should be used. The gain is recagnised as intome from donab.ons and a corresponding amounl is included in the appropriate fixed asset class and depreciated over the useful economi¢ life in accordance vthth the Trust's accountsng policte5. Other income 15 recognised in the period in rt is recwwdble and to the extenl the goods have been prowded OT on completion of the serwce. Page 27 UNKAGE COMMUNITY TRUST IA company limited by g￿Trntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2023 A¢¢ounllng policies (continued) 2.4 Expenditure EXpendrtY￿ is re￿nIsed once there is a legal or constructi¥e obligation to transfer economic benefit to a third party, it is prOba￿e that a transfer of econixnic beneffts thryll be required in settlemenl and the amount of ttE obligatson can be measured reliably. Expentjiture on raising funds includes all expenditure incurred by the Tnjst to raise funds for ils Chariiable purposes and includes the direct costs incurre<1 bn re￿iOn to festn.cted voluntsry income receivefj. Expenditure on chantable acb"vthes is in￿jIred M undertakin9 the ath"Mlies wthich further the Trust's objectives. Expenditure is dassrf*d by acttvity. The costs of each actilhty are made up of the total of dired Gosts and an allocation of a corporate overhead. All expenditure is I￿u$l¥e of i1￿CoVerable VAT. 2.5 Tangible fixed assets and d¢pr¢¢i•tion Tangible fixed assets costing £2,500 or more are capitalised and recognised ￿en future economic beneffts are probable and the cost or value of the asset ran be Measured reliably. Freehold Property is initially recognised at cost. After recognts"on, under the revaluats'on model, tangible fixed a55ets ¥th05e tsir value can be measured reliably Shall be carried at a revalued amount, being their fair value at the date of ￿ValUatiOn less any SLd)5equent attymulaled depreciation and subsequent accumulated impairment10sses. Revaluatson$ are made V•ith sLrff￿4enI regularity to ensure that the Car￿￿9 amounl does not differ materially from that vhtch V+rJuld be determined using fair value at the end of the reporting date. Fair values are determined from market-based eviden¢e by appraisal that 1$ nurmally undertaken by professionally qualif￿ ¥￿VerS. If there is no market-based e¥idence of fair value because of the $peciali5ed nature of the tangible fixed a55el and rt is rarety sold, except as part of a contributing business, a Trust may need to estmnate fair value using an income or depreciated repla¢ement ¢osl approach. Gains and losses on revaluation a￿ ￿COgnised in the Statement of ffi￿an￿al acts"wtses. with a separate revaluation reserve being shovffl in the Statement of funds note. Other tsngible fixed assets a￿ inib.alty re¢c>3nised al ¢ost. After recognth"on, under the cost model. tangible fixed assets a￿ measured at cost less acoJmulated depreciatson and any accumulated impaiment losses. Al costs incurred to bn.ng a tangible fixed asset ￿ta its intended working con¢Jition should be included in the measurement of cost_ Pa9e 28 UNKAGE COMMUNITY TRUST {A company limited by guarnnt••} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting poll¢l•$ lcontlnuedl 2.S Tangible fixed assets and deprE¢i•tion {continu￿? Depreciation is charged so as to alocate the cost of tangible fixed asset$ le$$ their residual value over their estimated useful INes. Depreciation is prwded ￿ the f￿1n9 bases" Freeh￿d Property Leasehold Property Leasehold Improvement Movable Buildings Motor Vehicles Fixture5 and Frtts"ngs - no depreciation- see belu4V over the remaining lease lemi - stsaight line over lease temi and 10 years - straight line over 4 years Strajghl line over 3 years Freehold Property is not depwated on Ihe grounds of immaterialrty. Freehold'Property is subject to regular maintenance and repair such Ihat in the Trustees opinion the residual value is not materially drfferent from the value in the financKIl statement5 and has a bng useful economic life. The Trustees consider the need for impaiment at ea¢h penod end. A rewew for impairment of a fixed asset is carrred out il events (Y ch8nges in cwcumstsnces indrcate Ihat the ¢arwng value of any ffixed asset may not be recoverable. Shonfa115 between the carrying value of fixed a55ets and their recoverable amounts are recognised as ifflpairmenls. Impairment losses are recognised in the Statement of financial activities. 2.6 Debtors Trade and other debtors ￿ recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount PTepaid net of any trade discounts due. 2.7 Cuffent a$$et investments Investments are a forni of finanual instrument and are initi'ally recc*Jniseil at their transaction cost and svbsequenlly measured al fair value at the balance sheet dale, unless fair value cannot be measured relrabity in *thich case rt is measured at cost less impairment. Investment gains and losses, vthelher reali5ed or unrealised. are combined and shown in the heading 'Gainsl(Ios5e51 on vestments. in the Statement of Financial Actiwti"es. 2.8 Cash at bank and in hand Cash at bank and in hand represents amounts held in current bank accounts and petty cash batances. Page 29 UNKAGE COIAMUNITY TRUST IA company limited by guarantre) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR E140ED 31 AUGUST 2023 Accounting policies (continued) 2.9 LiabilitW5 and provisions Liabilth$ are recognised ¥then there 1$ an oblwab.on at the Balance sheet dale as a result of a past event, it Is probable that a transfer of economi¢ benefft will be required in $etdement. and the amount of the setuement can be e5b"maled Telial*. Liabilitses are iecognised at the amc¥Jnt that the Trust ants¢ipates li viill pay to Settle the debt or the amount rt has reGeived as advanced Pa￿entS for the goods or services it must provide. Provisions a￿ measured al the best estimale of the amounts required to settle the obligation. Where the effect of the b.me value of rn￿eY 15 matertral. the provision is based on the presenl value of those amounts. discounted at the pre-tsx disccwnt rate that reflects the nsks specific lo the liability- unwinding of the disccwjnt is ￿cogniSed in the Statement of financial ath'vities as a finance cost. 2.10 Flnanclal Instruments The Trust only has financral assets and finanual habilities of a kind that qualfy as basic financial in$lTurnents. Basic financial in5trument5 a￿ inib.alty ￿cOgniSed at transacts.on value and subsequently measured at their settlemenl value V￿th Ihe exception of bar* loans vthi¢h are subsequenlly mea5UTed at amortised cost Using Ihe effectNe interest method. 2.11 Op•rating leases Rentsls paid un¢Jer operating lease5 are tharged to the Statement of financial actimties on a slraighl line basis over the lease term. 2.12 PtDslon$ The Trust operates a defined contribution pension scheme and the pen$k)n charge represents the amount5 payable by the Trust lo the fund in respect of the year. The Trust operates a defined beneffts pens￿ scheme and the pension charge is based on a fvll actuarial valuation dated 31 August 2021. 2.13 Fund accounting General lunds we unrestrKted funds 7hts.ch are available for use * the discretion of the Tnjstees in fvrtheran¢e of the genwal obJ"e¢ti¥es of the Twst and *thich have not been designated for other purposes. Designated fund$ ￿MpriSe unrestricted fijnds that have been set aside by the Trustees for particular purFose$. The aim and u$e of ea¢h designated fund 15 Set out in the note5 to the financial statements. Restn"¢ted fvnds are fvnds *thi¢h are to be used in accordance specrfic restrictions imposed by donors or which have been raised by the Trust for particular purposes. The costs of raising and administering such funds are charged against the specthc fund. The aim and use of each restn.cted fvnd 15 Set out in the notes lo the financial statements. Page 30 UNKAGE COMMUNITY TRUST {A company limited by gtsarnntse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Critical accounting estimates and areas of judgment Estimales and judgments a￿ ¢ontinualty evaluated and are based on histori¢al experience and other factors, induding expe¢latson$ of future events that ¥e belwed to be reasonable under the circumstances. Crilical a¢¢ounting estimates and assumpbons". The Trust makes estimates and assumplions ¢on¢erThng the future. The resLAting accounting estimates and assumptions wll, by definition, 5eldorn equal the related actual results. The ests"mate5 and ssumptions that have a significant risk of causing a material adjustrnent to the Carryng amourts of assets and liabilib.es ￿thin the next financial year are discussed below. Tangible fixed assets are recognised at cost cff waluation, less accJJmulated depreciation and any irnpairmenls. Oeprecialion lakes place over the ests"mated useful lrfe, do￿ to the asse55ed residual value. The Garrying amount of the Trust's fixed assets is tested as soon as ch￿ged condition5 show that a need for impainnent has arisen. The recoverability of trade debltys and assouated pmwsioning is considered on a regular bays. When calculating the debtor provision. the Tfustees the age of the debts and the financial position of ils Se￿iCe Lbsers. The present value of the defined benefit liability depend$ on a number of factors that are determined on an actuarial ba515 using a varEty of a55umpb"ons. The assumpts.ons used tn determining the net cost i {incomel for pensions in¢lude the di$¢ount rate. Any changes in these assump￿n5, *hi¢h are disck)sed in note 28, 54111 impact the carrying amount of the pen*on Ilability. Incom? from donations and lega¢i•s ResI￿rIed Un￿StrICted fvn41s lunds 2023 2023 Totsl nds 2023 Tot lunds 2022 Donations 5.321 318.870 44,414 49.735 318.870 31,855 507,361 Grant5 324.191 44,414 368.605 539,216 Total 3022 518.8TI 20,345 539,216 Page 31 UNKAGE COMIAUMITY TRUST (A c¢)mpany limited by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Analysis of grnnts 2023 2022 ESFA Maintenance Big Lottery Fund Swtb'sh Power Children in Need Help for Health Forbes Trust 141.457 37.818 110.031 68,425 47.695 27,922 47,000 12,500 50,Ot 28,400 17.982 8.000 Tolkien Trust so,000 ETF Hams Trust Heritage Lottery Other 63.613 95,388 318,870 507,361 ome from chaiitable activilie5 Un￿tn.¢trd funds 2023 Total funds 2023 Tot81 lunds 2022 Ed￿ation * Linkage Choice$ Care Employrnent Corporate and Cafes 6,333.560 6,333.560 4, 765.859 12,228,039 12.228.039 11.265.970 135,834 135.834 142.409 411.731 411.731 350.551 19.109,164 19,109.164 16,524, 789 Total 2022 16.524. 789 16.524, 789 Page 32 UNKAGE COMMUNtrY TRUST {A company limited by g￿￿Tr1ee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Analysis of income from ¢harttabl• adivities by category 2023 2022 Education and Llnkage Cholces Fees Rethvable Training Inccffje Other Income 6.115.925 4.620, 160 250 145.449 158.006 6,273.931 4.765,859 Care Fees Receivable 11,224,826 10.510,341 749.241 755,679 Other Inmme 11,974,067 11.265,970 Employment Fees Receivable 135.834 142,409 135.834 142,409 Corpornte and Cafes Fees Re¢eivat4e Training Outlet IrKome Other Income 35. 738 121,301 193,512 139,629 272.102 411,731 350,551 Page 33 UNKAGE COIAIAUNITY TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Income from other tradlng •divities come from fundraising events Restricted UnrEstrict8d funds fvnd$ 2023 2023 Total Total lund$ 2022 202J Income from Fundraising 902 20.910 21.812 34.380 Total 2022 2,665 31.715 34.380 Expenditure on raising fvnds Expendltupe of voluntary incom• Restricted fvnd$ 2023 Total fvnd$ 2023 Tot81 lunds 2022 Other Costs Payoll Costs 274.052 136,847 274.052 136,847 233, 121 182.229 410.899 410.899 415.350 Total 2022 415,350 415,350 Page 34 LINKAGE COIIIMUNifY TRUST (A ¢¢)mpany Ilmited by g￿rantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 E¥penditur• on raising funds (continued) Fundraising expenses Unrestrlcted fvnds 2023 Tolal fvnds 2023 Total funds 2022 Other Fundraising Costs Fundraising Salartes Fundraising N*ional Inswance Fundraising Pension 12.766 33.892 3.007 970 12.766 33.892 3.007 970 12,940 69.813 6,778 2,094 50.635 50.635 91.625 Tol812022 91.625 91.625 10. Analysis ol •xpendrtur¢ on ¢haritable activilies Surnmary byfund type I￿V*strIcted fvnd$ 2023 Tot•1 2023 Total 2022 Education Linkage Choices Ca Employment Corporate and Cafes 5,915.386 5.915,386 4,383.810 11.799.649 11,799.649 11,065,813 232,102 232.102 145,052 411,731 411.731 350,551 18,358,868 18.358.868 15,945.226 Tol312022 15.945,226 15.945.226 Page 35 UNKAGE COIIMUNITY TRUST IA company limited by guarnntsel NOTES TO THE FINANCIAL STATEMEIITS FOR THE YEAR ENDED 31 AUGUST 2023 11. Anatysis ol •xp•Thditurn by activiti•s Aclfvkn CoTrorale undertaken ovethead direcity •llocatyo 2023 2023 Total fvnds 2023 Total funds 2022 Edu¢ab"on and Link8ge Choie Care EmployThent Corporate and Cafes 5,048,835 10.126,622 213,517 2,969,894 866,551 1.673,027 18,585 {2.558,1631 5.914386 4.383,810 11,799,649 11,065,813 232.102 145,052 411.731 350.557 18.358,868 18,358.868 15,945.226 Total ￿22 15,945,226 15.945.226 Analysis of direct costs Education and Linkage Choices Coypornte and Cafes 2023 Totst fvnds 2023 Tol81 funds 2Q22 CaTr ErnployTrent 2023 2023 2023 Staff Costs Other Direct Costs 3.706,863 7.688.907 194.410 1,660,350 13,250.530 12. 146,563 1,341.972 2.437.715 19.107 1.309,544 5.108.338 3,798,663 5,048,835 10.126,622 213.517 2,969,894 18.358.868 15,945.226 Total 2022 3,754, 721 9,578. 124 126.254 2.486, 127 15,945,226 Page 36 UNKAGE COMMUNITY TRUST {A Company limit•d by guarnnt••l NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR EIIDED 31 AUGUST 2023 12. Other expendlture Unrtstrlcted funds 2023 T?l•l funds 2023 Tot* lunds 2022 Property Profit Disposal Pension Scheme- Interest on Liabiljbes Pensim Scheme- Interest on Assets (47,5001 59,000 (48,000) 99,000 (117.000) 99.00 1117.0001 (18.000) (18.0001 (36,500J Tolal 2022 (36,500) {36.SLIOJ 13. AudStors' r¢mun•ratlon 2023 2022 Fees payable to Ihe Tru$Y$ audikff and its associates for Ihe audit of the Trust's annua accounts 14.40D 12,000 Fees p3yat4e to the Trusfs audrtor and rts assooates in respecl of". I non-audit s￿￿CeS not induded above 3.600 3,570 Fees payable to the Trust's auditor rt5 asswates in conneclion wth the Trusfs pen￿ofi s¢hemelsl in respect of". The audibng of accounts of the schemels) 3.000 1, 710 Staff costs 2023 2022 Wages and salaries Social security Cosls Contribution to defined contribution pen￿on schemes 12.169,502 11,249,287 937,431 868.684 318.313 289,506 13,425,246 12,407,47T Wages and salaries includes total ex4ratia. notice and redundancy payments of £29,425. Page 37 UNKAGE COMMUNITY TRUST IA Compary limit￿ ty guarnntsel. IIOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 14. Staff costs l¢onllnuedl The average number ol per50n5 employed by the Trust dwing the year VRS a5 follow5.. 2023 2022 Education and Adurt Skills (Linkage Choices) Care Corporate se￿Ces Bank Staff - Headcount 128 125 328 59 362 60 66 79 616 591 The numtjer of employee5 *those employee beneffts {exc*Jding employer pension costs) ex￿eded £60.000 wa$." 2023 2022 In the band £60,001- £70.000 In the band £70,001 - £80.000 In Ihe band £100,001- £110,000 In the band £110.001- £120,000 The key management personnel of the Tnjsl are considered to be the senior leadership team. The total amount of employee benefrt5 {induding employer pension antj national in$LTrrance contn"butions} re¢eived by key management personnel for their services to the Trust 74fdS £380.000 (2022 - t370,0001. 15. Truste•s' r¢munerati¢n and OX￿￿$¢$ I￿ring the year. no Trustees receNe(l any remunerats"￿ or other benefits (2022. £NIL). During the year ended 31 Augusl 2023, expenses totalling £110 were reimbursed or paid directly to 1 Trustee (2022- £415). Expenses paid to Tru5tee5 related to the ￿lmIXIrseMeftI of mileage. Page 38 LINKAGE COMMUNITY TRUST IA company limsted by guarantse) NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 AUGUST 2023 16. Tangible fixed assets Leasehold Freehold and Improvement Leasehold *nd Mr)¥e•b Property B￿lIding¥ Motor Flxturns and Vehicles Fittlngs TotBI Co$t orvaluation Al 1 Septembef 2022 Additsons Disposals 20,12S.329 824.261 217.2J3 738.162 107.795 114.019) 2,S43,719 23.624,443 932,056 114.019) At 31 Augusl 2023 20.949.590 217.233 831,938 1543.719 24.542.480 Depreciation At 1 September 2022 Charge for the year On disposals 5.083 200 51.126 33.214 610,260 49.069 (14.0191 2A21,862 63.568 3.088,331 146,051 (14.019) At 31 August 2023 5.283 645.310 2.485.430 3,220,363 Net book ¥alu• At 31 August 2023 20.944,307 132.893 116,628 S8.289 21,322,117 At 31 August 2022 20, 120.246 166. 107 127,902 12t.857 20,536, 112 Properbes are revalued on a fi¥e-year cyth. Valuab"c￿$ have been carr￿d out to revalue properties on a market value basis. The valuatiort5 were urHlertaken by si*latty qualified Ir￿ependent valuers. The Trust has adopted a pc4i¢y of ￿Valuall0n for tangible fixed assets. Had these 35sel$ been measured al histori¢ cost. the carrwn9 values have been as followts.. 2023 2022 Freehold property 15.746.373 14,922, 112 17. Flxed asset investments The Tfust deems Linkage Trading Ltd a subsidiary undertaking due lo the control it exerts over Ihe comwy. The ￿SuIts for the subsidiary are not consolidated on the giounds of immateriality. Page 39 UNKAGE COAIAIUNITY TRUST IA e¢)mpany limited by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2023 Debtor5 2023 2022 Due within one year Trade debtors Arnounls owed by group undertakin95 Other debtors 1,264.S22 14.286 107.458 1.064.988 828, 778 49,145 109,398 1.010,450 Prepayments and accrued income 2.451,254 1.997, 771 Trade debttys are $tsled after w0vis￿5 fty bad debt5 and creth"t notes of £179,88912022- £235,426). 19. Cmnt •s$et In¥eslments 2023 2022 Investment p￿trOllO 2,393.$40 2,376,361 During U)e year. the change in the market value of the in¥e5tment portfolio re5ulled in a gain of £17.179 12022-1o$s of £103.9031. Page 40 UNKAGE COMMUNITY TRUST (A company limiteil by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 20. Creditorn.. Amounts t•lllng due *ithin one year 2023 2022 Bank loans Trade creditors Other ts¥alion and soual security Student and reswjent monies held Other creditors A¢uuJs and deferreij irt¢(kne 133.332 342.429 270.350 559.783 S98.008 513.337 133.332 473,842 224,400 485. 154 702, 157 1.246,932 2.417.239 3,265,817 2023 2022 Deferred income at 1 Septernber Resources defeffed during the year Amounts released from previous periods 951.113 197.922 1913,4931 1.043.854 261.799 f354.540) Defeff¢d income at 31 August 2JS.542 951, 113 Page 41 UNKAGE COPAMUNITY TRUST IA company limit•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGUST 2023 21. Crndltors: Amounts falling duo aft•r mor• than on• y•ar 2023 2C122 Bank loans 633.347 250.000 766,679 250.OOQ Other loans 883,347 1,016,679 Included vAthin the above are amI￿nts faling due as fdlo*s'. 2023 2022 eetween Ibne and two ￿a￿S k loans 133.332 133.332 BètwÈÈn two •nd fNe ye•vs k loans 399,996 399,996 O¥•r fiv• yeaws Bank loans Other loans 100.019 250.000 233,351 250,000 The aggregate amount of lith"liti"es payat4e or repayable wtholty or in part rnore than five years after the reFwting date is". 2023 2022 Payable or repayable by instalments Payable or repayable other than by in5talments 100.019 250.000 233.351 ?￿.000 350,019 483,351 Bank loans are secured by legal charges over fwr free￿d prope￿"e$ O￿Tre￿ by the Trust wth a totsl nel book value of £4.535.00012022 - £4.535.0001. The total bank loan balance of £766,67912022 - £900.011) is 17% {2022- 20%) ol the property value based on the most r￿ent ¥aluatsws. The other loan 15 secured by a legal tharge over one freehold property obyned by the Trust Nthich ha5 a net book value of £275.000 12022 - £275,000). The loan balance 15 91%12022 - 91%) of the value of the securty held. Page 42 UNKAGE COMAIUNITY TRUST (A company limited by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 22. Statement of funds stst•ment of fvnds- ¢urr*Tht year Balance *t 1 Septernber 2022 Trnnslers inlout Galn51 Balance at 31 (Lossesl August 2023 Income Expendiiu Unrestricted Funds Designat•d Fund5 Digitalisation Reserve 144.0110 117.040 126,960 G•noral Funds Free Reserves 3.635.492 19.174.488 118.392.263) (1.053,483) 1t1.f￿4.292 3.875.115 17.179 3.381.413 14.559.207 Propety Fund Revaluation Resefve Pension Reserve 5.368.421 5.368.421 18.0110 127.000 1145,000) 19,688,20S 19.174.488 (18,374.4631 1.948.632 {127,8211 23.309.041 Total Unrestricted Funds 19.832,205 19.174.488 (18,391.503) 2.948,632 {127.8211 23,436.001 Page 43 LINKAGE COPAMUNWWY TRUST (A comp•ny limited by guaTrnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 22. Statement offvnds {continuedl e•l•n¢e at 1 Septemb¢r 2022 Trnn$fe inlo Gainsl 8alan¢e at 31 (Losses1 Avyusl 2023 lTr¢orn¢ Expenditure Restricted Funds ESFA Maintenance Bursary Fund$ Sensory Bus Children in Need Tolkien Trust Help for Health her Restricted Funds Fixed Assets Acquired 168.574 43.183 57.IM11 141.457 36.694 49.621 17.982 50.000 8,000 1158.0031 131.194) (106.6891 117.982) 141,IXIO) 111,828) 152,028 48,683 3.933 4.000 19,000) 3J28 108.095 21,339 137.469) 15,1)00) 86,965 2.945.366 (6.7341 (2.938.632) 3,326.047 325.093 1410,8991 12.948.632) 291.609 Total of Funds 23.1S8,252 19,499.$81 118,802.402) 1127.8211 23.727.610 Page 44 UNKAGE COMMUNITYTRUST IA company limited by guarante*) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 22. Stal•m•nt of fvnds {continued) Llnrestri¢tsd Funds: For clarity of presentatirn. the Twstees ¢hoose to show the value of pxoperty and the accumulated gains and losses as separate fvnds. Free Reserves above therefo￿ represents the accumulated surplus on chariiable aetivthes. Restricted Funds: Most of the Trusfs income is in the fom of fees but it also receives grants and raises funds for specific purposes. These restrtled fvnds are described belov. ESFA Maintenance represents fvnding r￿ell•ed from the Ed[￿0b'On and Skills Funding Agency I'ESFA'I lo be spent on the maintenance ol educatsonal fau"libes. Bursary Fund- represent funds prwde¢J by the ESFA to financialty 5UPWt ywng people in leaming. Sensory Bus - rfates to fLmding provKled by the ￿ Lottery Fund and other donors for the eontinue(I running costs of the chaws Sensory Bus. Tolkien TTU5t- ￿lateS to lunding provtded to cover core costs of the chanty. Other Restn"ded Funds - relate to other grants an¢J dona1K￿S fr(yn fvrmjers and in(Aviduals vthich are suty'ect to restrictions imposed by the donor. Material Trnnsfws: A material transfer has been re¢c¥Jnised in the year to transfer the NBV of fixed assets acquired re5tn.cted funds lo unrestrKled fund5 on the basis thal the trustees have confirmed that a restriction no longer exists. Page 4S LINKAGE COMMUNwfY TRUST IA compary limited by guaranl••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 ststement of funds Icontinuedl Stat•m•nt of funds- wior y•ar 8alance at I September 2021 8&lance at 31 August 2022 rranslers i￿oul Gain (Losses) Unrestrict•d Funds Designated Funds Digitalisation Reserve 144.L 144,¢￿0 G•n•rnl Funds Free Re5er¥es Property Fund Revaluatron ReseThe 3.323,710 16.576,849 f15.853.933) 10,568.533 (135.418) (307.231) 251. ITT (103,903J 3,635,492 10,684,292 5,418,203 (49, 782) 5,368,421 Pension Reserve (745,OthlJ fl I,LXXI) 134,000 622,000 18,565,446 16,576.849 (16.¢MI,351J 28,164 518.097 19.688,205 Total Unrestricted Funds 18, 709.446 16.5T6.849 f16.¢W.351) 28,164 518,097 19,832,205 Page 46 UNKAGE COMMUNITY TRUST (A company limited by guarnnte•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 22. Stat•ment of fund$ l¢¢)nlinued 8al8nc8 at q Seplember 2021 8818nc8 Bt 31 August 2022 Transfers Ga￿ {LossesJ Rostricted Fund8 ESFA Maintenance Bursary Funds Sensory Bus Forbes Trust Children in Need Tolkien TTU51 Baity Thomas Help for Heallh ETF 122.093 19.305 46,886 6,002 8.381 110,031 42.890 122.535 12.StX) 27.922 (63.￿) (19,01?) (112.420) (18,502) (36,303) 168,574 43,183 57,001 4,507 (1, 104) (16.510) (28.4W) (3,403) (26,662) 47.OL 28.4L 3,828 Oiher Re$tri¢led Funds Fixed Assets Acquired 117.930 80.259 {59.332) (30, 761) 108.095 2,922,921 (10,217) 32.662 2,945,366 3.248,025 521.536 (415.3￿) (28.164) 3.326.047 Total of Funds 21,957.471 IT.098.385 (16,415. 701) 518.097 23,158.252 Page 47 UNKAGE COMPAUNtrY TRUST (A company limited by guardnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Summary of funds Summary of funds- current year Balance at 1 Septemb•r 2022 TNnsfe inlout G•ln$l 8•lan¢e •t 31 ILo3Jesl A￿9￿9t 2023 Incorne Expendmu Designated funds General fund$ Restricted funds 144.000 {17.040) 19.608,205 19,174,488 118.374.4631 2.948,632 3.326.047 325.093 1410.8991 12.948.632) 126.960 (127,821) 23,309,041 291.609 23,158.252 19.499.581 118.802.4021 1127.8211 23.727.610 Summary of funds- prlor year B818nce 81 I Seplember 2021 Balance 81 37 August 2022 Transl￿5 Gèin (Losses) Designated funds 144.0 18.565.446 3.248,025 144.000 518,097 19.688.205 3.326,047 General fund5 Restricted funds 16.576.849 (16.￿.351) 521.536 (415,350) 28.164 (28, t64J 21.957.471 IT.098.385 (16.415.701) 518.097 23,158.252 24. Anatysis of net a$$ets between funds Analysis of net assets between lund5- cuvrent year Restrfcted Unrp5tricled funds funds 2025 202J Totsl d$ 2023 Tangible fixed a$sets Current assets Creditors due within ¢￿e year Credrtors due in more than one year 21,322,117 21,322.117 315,655 5,390.424 5,706,079 (24,0461 {2,393,1931 12,417,239) 1883,3471 1883.3471 Total 291.609 23,436.001 23.727.610 Page 48 LINKAGE COMMUNITY TRUST IA company limited by guaTrnteel NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 AUGUST 2023 24. Analysis of net assets between funds (continued) An•lysl$ of net assets bèl￿￿ funds- pri(Y year Re5tnded Un￿$1￿¢ted fvnds lunds 2022 2022 Total funds 2022 Tangible fixed assets Current assets 2.945,366 IT.590, 746 20,536. 112 487.4T8 6.417, 158 6,904,636 (106. 797) (3, 159,020) (3,265.817) {1,016,679) (1,016,679J Creditors due wthin one year Creditor5 due in rn0￿ than one year Tolal 3.326.047 19,832,205 23, 158,252 25. Reconciliation of net movement in funds to n•t cash flow from op•rating activities 2023 2022 Net income for the ye¥ las per Stslement ol Financial Aclivibes) 714.351 578, 781 Adjustments for: Depreciation charges (Gain) I loss on investrnenls Lossllpfofill on the sale of fixed assets Increase in deblors Increaselldecreasel in credittrs Net pension finance cost Contributions to defined benefft penS￿n schemes Donated fixed assets 146,051 117.179) 149,305 103,903 {47,800J (244.980) 216,450 11,000 {134,OOOJ 14SJ.483) 1848.578) 118.DOOI 1127.000) (42.0001 Net ¢a$h provided byl(us•d In) oporfirtg a¢¢ivi¢ies 1645,831) 632.659 Page 49 UNKAGE COMMUNITY TRUST IA company limited by guarants•) NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 AUGUST 2023 Analy$i$ of c•sh and ¢ash equi¥•lents 2023 2022 Cash at bank and in hand 301.502 559.783 2,045,350 485. 154 Residen15 rnoney bank accounts Total ca$h and cash equi¥algnts 861,285 2.530.504 27. Analysis of changes in nèt dèbt At1 Seplember 2022 oU￿r non- $h At 31 Au9U$t ¢h•n9es 2023 Changes in C•sh IIM market ¥•lue Cash al bank and in h￿d 1530.504 (1.669,219) 1133.3321 133.332 11.016,679) 2.37fj.361 861.285 (133.3321 1883,3471 2.393,540 Debt due *ithin 1 year Oebt due after 1 year quid in¥estmenls 1133.3321 133,332 17.179 Pension commitments Linkage Commurrity Trust operates iw) separate pensw schemes - a Group Savings Plan and an Execub"ve Pension Plan. The assets of both schemes are held separately from those of the Trust in independently admini$lere(J fund$. Group Saving5 Plan: The Group S3￿ngs Plan is a define¢J ¢ontnbubon scheme. The pension cost in the accounts represents the total pension cost for the year*thich amounted lo £318.31312022- £289,5￿). The Trust operates 8 definefj benefft pension scheme. Executive Pension Plan: This is a defined contritsjtion plan undedying guarantees of a defined benefft nature. tt is therefore accounted for in accordance wth the Financial Reporting Standard applicable in the UK an¢J Republic ol Ireland IFRS 102). The scheme is closed to fvrther accrual of benefits. At 31 August 2023, the scheme makes payments to six pensioners. The folbwing disclosures are taken from the report prepared as at 31 August 2023 by Bamett Waddingham LLP. the Plan's actuary. Page 50 UNKAGE COMMUNITY TRUST IA ￿fftp•ny limited by guarnnteel NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 AUGUST 2023 Pension Commitinents (continued) Principal actuarial assumptions al the Balance sheet dale {ex￿$Se￿ as ¥￿Ighted averages).. At 31 Au9llSt AI 31 August 2023 2022 DI￿0￿nt Rate Retail Prices Index (RPII Inflalion LPI Pension Increases Assumed Percentsge of Penwon Taken as Tax Free Cash 5.35 3.50 3.80 3.60 20.00 3.60 20.00 At 31 August Al 31 Augusl 2023 2022 Years Ye8fS Mortalty rates (in years) - for a male aged 65 n -at65 a male aged 45 n￿¥ - for a female aged 65 now - at 85 f(Y a female aged 45 nc14V 22.0 22.0 2J.7 23.6 24.5 26.2 24.5 26.2 The Trust's Sha￿ of the assets in the scheme Wds.. At 31 August Al 31 Augusl 2023 2022 Cash 130.000 1.596,000 910,000 161,LRXI 1,573,000 1.018,000 Funds Insuied Assets Total fair value of assets 2.636.000 2. 752,000 The actual relum on stheme assets was £(72.0001 (2022- £(251.0(￿)). The amounts rewnised in the Statement of financial actI￿tieS are as follows: 2023 2022 Interest on assets Interest on1olx"lrties 1117.0001 99.000 f48.0001 Total amount recognised in the Statement of financial activtties 118.0001 Page 51 LINKAGE COMMUNITY TRUST IA comwny limited by guannt••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Pension commithients (cofitinu•d) Movements in the presttrt value of the defined benefft obligation tAtre as f0lhx￿.' 2023 Opening defined benefft obligation Changes lo acluanal a$5umplions Benefits paid Interest on ￿abill￿.e5 2,387,000 {229,0001 {171,01)01 99.000 Closing defined benefit obligation 2.086,000 M¢)vemen15 in the fair value of the T￿￿r5 share of stheme a55ets were as folbws". 2023 Opening fair value of scheme assets Interest on assets Retum on assets less interest Contributions Benefils paid 2.752.000 117.000 1189,0001 127.000 1171.0001 Closlng falr Val￿ of 6¢heme assets 2,636,000 The actuarial report Wdlued a pension scheme surplus of £550.1)DO as set out by the disclosures above. This b￿ance has not been recognised on Ihe basis that the balance is not deemed lo be recoverable Ihrough reduced ContribUt￿nS in the fijlwe or Ihrough refvnds from the plan. Page 52 UNKAGE COMMUNITY TRUST (A ¢ompany limited by guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2023 29. Operdting l•as• commitm•nts At 31 August 2023 Ihe Trust had commilmtrbts to make fulure mir4mum lease payments under non- cancellable opefating leases as folbw%'. 2023 2022 Not laler than 1 year Later Ihan 1 year not later than 5 year5 55.032 117.875 60,800 772.907 172,907 233, 70T The foll￿1n9 lease payments have been recLwised as an expense in the Statement of financial actsvilies. 2033 2022 Operating lease rentals 60.800 55.599 30. Rolattd ￿rtY trnnsactions Linkag• Trdding Ltd= Linkage Trading Ltd is a comparry lirnited ty gu￿ntee *thich is controlled by ￿"nkage Communty Trust. The Tnjst processes payToII on behalf of the ￿mPanY and receives other minor incorne and expenses. Total expenses antj repayments resulted in a nel ￿aymefit in the year of £16,631 12022- £1.4001. In addition, the company charges the Trust a M￿￿ement fee for maTkeb"ng seNces provided. The charge for the year was £18,22812022- £15.277) The balance outstanding at the year4nd is £14.28612022 - £49.1451 and in¢knded within amounts owed by group undertakings. Chase & Holland Recnwtment Limited: Chase & Holland Re¢nJrtment LÈmrted L% a ccmnparry in T*thi¢h Mrs B L Findlay 15 a director and person ith signrficant contrd. Mrs B L Findlay resgned as a trustee of charity on 17 October 2022. The company prowded recruiknenl SWM¢es to the Trust durin9 the period in ￿lch Mrs 8 L Findlay was trustee. The 1014 amount tharged to the Trusl up to the trustee's resignation w3s £2,304. The lotsl amount charged to the Trust during Ihe previous year was £14,961 with a balance of £6,600 outstanding at 31 August 2022 vkni¢h ￿as induded in Irade creditors. The company was used for recruitment seNces prior to Iw apwntmenl as trustee and subsequent lo her res￿n0th0n. The trustee was not involved in Telated decision•making. Page 53 UNI￿GE COMMUNITY TRUST IA company Ilmit•d ty guarants¢l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 31. Post balance sheet events Post year-end, the Trustees approved the repayment of the Trust bank loan through an agreed Inc￿aSe of rt5 overdraft facilibes. Page 54