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2021-07-31-accounts

Contents Pages
Legal and administrative
information
Trustees'
report		 2-6
Independent
auditor's		 report to the trustees 7-10
Statement offinancial activities
Statement offinancial position 12
Statement ofcash flows 13
Notes to the financial statements 14-24

Registered Charity Name Springboard
Sunderland		 Trust
Registration Numbers Charity Number 519650
Company
Number 02121694
Trustees Jonathan
Nicholson
John Colin Wilson
Denise Wilson
Karen Anne Alexander (Resigned 11/05/2021)
Graham Burt
Bradley Hooper (Resigned 07/01/2022)
(Trustees are also the directors for the purposes ofcompany law)
Principal Staff/Secretary Stephen George Reay
Key Management Personnel Lisa Gregory —Head of Finance
Janine Doughty —Head ofPerformance
Steve Reay —Chief Executive Officer
Carl Fox —Manger/Subcontracts Liaison Manager
Keith Miller —ICT Manager
Andrea Whincop —Head ofTraining
Registered Office The Alee Dickson Centre
Rivergreen
Industry
Centre
Pal lion
Sunderland
SR4 6AD
Auditors Torgersens
Chartered
Accountants
Somerford
Buildings
Norfolk Street
Sunderland
SRI IEE
Bankers Barclays Bank pic
Sunderland
City Branch
Fawcett Street
Sunderland
SRI IRS

Unrestricted Restricted Total Total
Note Funds Funds 2021 2020
8
Income from:
Donations
and legacies		 2 12,045 12,045 2,949
Charitable
activities		 3 3,156,314 85,526 3,241,840 2,629,428
Investment
income		 4 213 213 1,416
Profit on sale offixed assets 238,374
Total incoming
resources		 3,168,572 85,526 3,254,098 2,872,167
Expenditure
on:
Charitable
activities		 5 3,210,289 85,526 3,295,815 3,086,234
Loss on sale offixed asset 5 26,608 26,608
Total expenditure 3,236,897 85,526 3822,423 3,086,234
Net expenditure (68,325) (68,325) (214,067)
Net movement
in funds		 (68,325) (68,325) (214,067)
Reconciliation
offunds
Total funds brought
forward		 1,049,257 1,049,257 1,263,324
Total funds carried forward 980,932 980,932 1,049,257

31JULY 2021
Note 2021 2020
f f
Fixed assets
Tangible fixed assets 1,703,125 1,917,879
Current
assets
Debtors 10 222)912 194,044
Cash at bank and in hand 591,978 692,968
814,890 887,012
Liabilities
Creditors: amounts falling due within one
year (997,130) (1,168,215)
Net current liabilities (182,240) (281,203)
Total assets less current liabilities 1,520,885 1,636,676
Creditors: amounts falling due after 12
more than one year (539,953) (587,419)
Net assets 980,932 1,049,257
Funds
Unrestricted funds
Designated funds 14/15 L096,113 1,267,268
General
funds		 14/15 (115,181) (218,011)
980,932 1,049,257
Restricted
funds		 14/15
Total Charity Funds 980,932 1,049,257

2021f 2020
f
Net cash tlows from operating activities 19 (145,258) (193,220)
Cash Flows from Investing Activities
Interest received 213 1,416
Interest paid (29,271) (26,656)
Payments
to acquire tangible		 fixed assets (3,375) (15,652)
Proceeds from sale oftangible fixed assets 120,300 381,154
Net Cash Used in Investing Activities 87,867 340,262
Taxation
Cash Flows from Financing Activities
Repayment
ofbank loans		 (43,599) (62,433)
Repayment
offinance leases
Net Cash (used in) Financing Activities (43,599) (62,433)
Chanc
in Cash and Cash		 Equivalents in the
Reporting
Period		 (100,990) 84,609
Cash and Cash Equivalents at the Beginning
ofthe Year 692,968 608,359
Cash and Cash Equivalents at the End of the
Year 591,978 692,968

Total Total
Restricted Unrestricted 2021 2020
'E
Donations
Income from donations
in		 2020 was unrestricted.
3.
Charitable		 activities
Total Total
Restricted Unrestricted 2021 2020
f
Education & Skills Funding Agency 2,770,217 2,770,217 2, 196,034
24+ loans 240 240 3,176
Revenue from nursery, Bistro and Upstream 86,302 86302 99,880
City ofSunderland —Nursery Grants 119847 119,347 124,560
City ofSunderland —Other Grants 4,973 4,973 5,567
City ofSunderland —High Needs Element 3 143,472 143,472 117,482
City ofSunderland —Hetton SIB 30,166 30,166 42,748
Apprenticeship Co-investment 1,461 1,461 415
Insurance
Proceeds		 800
Vulnerable
and		 other bursaries 300 300 30,550
Other income 5,340 5340 5,906
Other grants 50,387 29,635 80,022 2,310
Total
Income from charitable
activities		 in 2020 was made up ofunrestricted funds off2,581,013 aud restricted funds
of$48,415.
4.
Investment		 income

.
Total resources
expended
Restricted Unrestricted f 2021 2020
Staffcosts (Note 7) 72,609 1,621,835 1,694,444 1,644,316
Secondment
and Assessors (agency costs)		 22,894 22,894 63,730
Trainee allowances 307 76,226 76,533 77,670
Vulnerable
and Other Bursaries		 20,362
Premises costs 5,708 296,364 302,072 243,936
Travel and subsistence 1,497 21,524 23,021 38,124
Training
costs and staff training		 58,029 58,029 79,125
Health & Safety 36,401 36,401 34,659
Materials
and equipment		 2,143 138,708 140,851 97,920
Professional
services		 84,738 84,738 74,987
Interest payable 29,271 29,271 26,656
Irrecoverable
VAT		 82,488 82,488 71,398
Sub-contractor
costs		 620,528 620,528 492,592
Marketing 57 34,166 34,223 25,543
Depreciation 71,221 71,221 74,553
Grant payable to SIBpartner 3,205 3,205 8,915
Sundries 1,284 1,284
Other (88) (88) (127)
Loss on disposal ofassets 26,608 26,608
Governance 14,700 14,700 11,875
Total resources expended ~2 ~3

.
Net (expenditure)/income
for the year
2021f 2020
This is stated after charging:
Depreciation —ovmed assets 71,221 74,533
Loss/ (Profit) on sale offixed assets 26,608 (238,374)
Interest payable
~
loan interest		 29,271 26,656
Operating
lease rentals:
~
property		 57,901 55,996
Auditors'
remuneration
.
Staff costs and numbers
2021 2020
f.
Staffcosts were as follows:
Salaries and wages 1,534,344 1,496,345
Social security costs 101,165 102,439
Pension contributions 41,806 43,136
Agency costs 22,894 63,730
Recruitment
costs		 1,165
Redundancy
costs		 9,953 1,231
Life Insurance 7,176
he avera ge number ofemployees
during
the year was as f		 ollows:
2021 2020
No No
Training &education 78 82
Apprentices 4 6

Freehold
and		 Computer Office Motor Total
long leasehold equipment Furniture
and		 vehicles
property fittingsf
Cost
At the start ofthe year 2,843,129 266,205 367,241 82,792 3,559,367
Additions in year 3,375 3,375
Disposals in year (210,000) (41,890) (42,015) (293,905)
At the end ofthe year
Depreciation
At the start ofthe year 945,291 251,275 365,130 79,792 1,641,488
Charge for the year 55,460 10,768 1,993 3,000 71,221
Disposals in the year (63,092) (41,890) (42,015) (146rt97)
At the end ofthe year 937,659 262,043 325,233 40,777 1,565,712
Net book value
At the end ofthe year
At the start ofthe year

0. Debtors
2021 2020
Trade debtors 107,389 105,000
Other debtors 54,011 25,395
Prepayments 61,512 63,649
2021 2020
f
Bank loan —repayable within one year 67,059 63,192
Other creditors 898,236 1,057,396
Social Security and Other Taxes 31,835 47,627
2021 2020
Bank loan
repayable within one to two years 69,810 65,820
repayable within two to five years 219,634 216,606
Repayable over five years 250,509 304,993

he carrying
value		 ofthe Cha rity's
financ		 ial
instruments
at 31 July w		 ere:
2021 2020
f f
Financial assets
Debt instruments measured at amortised cost:
Trade debtors 107,389 105,000
Other debtors 54,011 25,395
Financial
liabilities
Measured
at amortised cost:
Bank loans 607,012 650,611
Other Creditors 898,236 1,1I6,833

At 1August Incoming Outgoing Transfers At 31July
2020 resources resourcesf 2021
Designated funds:
Fixed Asset Fund 1,267,268 (100)492) (70,663) 1,096,113
Total designated funds
Summary ofFunds
Designated Funds 1,267,268 (100,492) (70,663) 1,096,113
General Funds (218,011) 3,168,572 (3,136,405) 70,663 (115,181)
1,049,257 3,168,572 (3,236,897) 980,932
Restricted Funds 85,526 (85,526)
At 1 August incoming Outgoing Transfers At 31July
2019 resources resources 2020
f.
Designated funds:
Fixed Asset Fund 1,406,516 (101,209) (38,039) 1,267,268
Total designated funds
Summary ofFunds
Designated Funds 1,406,516 (101,209) (38,039) 1,267,268
General
Funds		 (143,192) 2,823,752 (2,936,610) 38,039 (218,011)
1,263,324 2,823,752 (3,037,819) 1,049,257
Restricted Funds 48,415 (48,415)

15.
An		 alysis of restr icted
fund move		 ments
At 1 August Incoming Outgoing At 31 July
2020 resources resources Transfers 2021
f f f
SCC - Communities Connected 14,098 (14,098)
SCC - R U Ready UC 16,068 (16,068)
Durham Works 38,044 (38,044)
Kickstart 6,344 (6,344)
Active Adventurers 3,000 (3,000)
Springboard
Lyons		 2,999 (2,999)
Down at the Pit 4,973 (4,973)
Analysis ofrestricted fund movements —prior year
At 1August Incoming Outgoing At 31 July
2019 resources resources Transfers 2020
f f. f f.
SCC -R U Ready UC 42,748 (42,748)
Adult Social Care Grant 1,000 (1,000)
Greggs Foundation 100 (100)
Down at the Pit 4,567 (4,567)
Designated Restricted General Total
fundsf Fundsf fundsf funds
Tangible fixed assets 1,703,125 1,703,125
Net current liabilities (67,059) (115,181) (182440)
Long-term
liabilities		 (539,953) (539,953)
Net assets at 31July 2021
Analysis ofnet assets between funds —prior year
Designated Restricted General Total
fundsf Fundsf funds funds
Tangible fixed assets 1,917,879 1,917,879
Net current liabilities (63,192) (218,011) (281,203)
Long-term
liabilities		 (587,419) (587,419)
Net assets at 31July 2020
17.
Other financial		 commitments
2021 2020
Operating
leases which expire:
within one year 62,750 75,475
within one to two years 130,573 193,323
within
two to five years



amounted
to f41,806 (2020:f43,136)and
(2020:amounts
outstanding
off8,427) are

amounted
to f41,806 (2020:f43,136)and
(2020:amounts
outstanding
off8,427) are

amounted
to f41,806 (2020:f43,136)and
(2020:amounts
outstanding
off8,427) are		 all related to unrestricted
funds.
Amounts
recoverable of8116
included
in other tax and social security creditor at the year end.		 all related to unrestricted
funds.
Amounts
recoverable of8116
included
in other tax and social security creditor at the year end.
19. Reconciliation
ofnet (outgoing)/incoming		 resources to net cash inflow from operating
activities
2021 2020
Net (outgoing)/incoming resources: (68,325) (214,067)
Interest receivable (213) (1,416)
Interest payable 29,271 26,656
Depreciation 71,221 74,553
Loss/Profit
on disposal		 offixed assets 26,608 (238,374)
(increase)/Decrease in debtors (28,868) 80,458
(Decrease)/Increase in creditors (174,952) 78,970