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|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|||||
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|||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|
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|||||||||||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|
##
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|||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|
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