2022-07-31-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
				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 ofFinance
				Janine Doughty —Head ofPerformance
				Steve Reay —Chief Executive Officer
				Allen Hall —Training Manager (North)
				Leanne Green —Training	Manager (South)
				Keith Miller —ICTManager
				Andrea Whincop —Head	ofTraining
Registered		Office		The Alee Dickson Centre
				Rivergreen Industry Centre
				Pallion
				Sunderland
				SR4 6AD
Auditors				Torgersens
				Chartered Accountants
				East Suite, Ground Floor
				Avalon House
				StCatherine's Court
				Sunderland
				SRS3XJ
Bankers				Barclays Bank pic
				Sunderland City Branch
				Fawcett Street
				Sunderland
				SRI IRS

		Unrestricted	Restricted	Total	Total
	Note	Funds	Funds	2022	2021
		8
Income from:
Donations and legacies	2	5,627		5,627	12,045
Charitable activities	3	2,573,890	142)287	2,716,177	3,241,840
Investment income	4	80		80	213
Total incoming resources		2,579,597	142,287	2,721,884	3,254,098
Expenditure on:
Charitable activities	5	3,021,256	109,077	3)130,333	3,295,815
(Profu)/Loss on sale offixed asset	5	(194482)		(194,282)	26,608
Total expenditure		2,826,974	109,077	2,936,051	3,322,423
Net expenditure		(247477)	33,210	(214,167)	(68,325)
Net movement in funds		(247477)	33,210	(214,167)	(68,325)
Transfer between funds		33410	(33,210)
Reconciliation offunds
Total funds brought forward		980,932		980,932	1,049,257
Total funds carried forward		766,765		766,765	980,932

STATEMENT 31JULY 2022	OF FINANCIAL	POSITION
		Note		2022	2021
Fixed assets
Tangible fixed assets				1,637,409	1,703,125
Current assets
Debtors		10	391,922		222,912
Cash at bank and in	hand		221404		591,978
			613,126		814,890
Liabilities
Creditors: amounts	falling due within one
year			(1,007,068)		(997,130)
Net current liabilities				(393,942)	(182,240)
Total assets less current liabilities				1)243,467	1,520,885
Creditors: amounts	falling due after	12
more than one year				(476,702)	(539,953)
Net assets				766,765	980,932
Funds
Unrestricted funds
Designated funds		14/15		1,091,851	1,096,113
General funds		14/15		(325,086)	(115,181)
				766,765	980,932
Restricted funds		14/15
Total Charity Funds				766,765	980,932

31JULY 2022
				2022	2021
Net cash flows from operating activities			19	(473402)	(145,258)
Cash Flows from Investing	Activities
Interest received				80	213
Interest paid				(28,215)	(29,271)
Payments to acquire tangible	fixed assets			(37&883)	(3,375)
Proceeds from sale oftangible fixed assets				230,000	120,300
Net Cash Used in Investing	Activities			163,982	87,867
Taxation
Cash Flows from Financing	Activities
Repayment ofbank loans				(61,454)	(43,599)
Net Cash (used in) Financing Activities				(61,454)	(43,599)
Change in Cash and Cash	Equivalents	in the
Reporting Period				(370,774)	(100,990)
Cash and Cash Equivalents	at the Beginning
oftbe Year				591,978	692,968
Cash and Cash Equivalents	at the End	ofthe
Year				221,204	591,978

2. Voluntary	income —donations	income —donations	income —donations
						Total	Total
				Restricted	Unrestricted	2022	2021
Donations
Income from donations in 2021		was unrestricted.
3. Charitable	activities
						Total	Total
				Restricted	Unrestricted	2022	2021
Education dk Skills Funding		Agency			2,047,996	2,047,996	2,770,217
24+ loans							240
Revenue from	nursery, Bistro		and Upstream		171,483	171,483	86,302
City ofSunderland —Nursery			Grants	4,999	177,264	182463	119,347
City ofSunderland —Other Grants				4,991		4,991	4,973
City ofSunderland —High Needs Element 3					89,403	89,403	143,472
City ofSunderland —Hetton		SIB		67,512		67,512	30,166
Apprenticeship	Co-investment				975	975	1,461
Vulnerable and	other bursaries						300
Other income					4,825	4,825	5,340
Other grants				64,785	81,944	146,729	80,022
Total							~4I 4

						2022	2021
Cash	investments	held	in	the	UK		213

	Restricted	Unrestricted	2022	2021
Staffcosts (biote 7)	98,075	1,837,581	],935,656	1,694,444
Secondment and Assessors (agency costs)		20,656	20,656	22,894
Trainee allowances		60,153	60,153	76,533
Vulnerable and Other Bursaries		124	124
Premises costs	1,981	271,037	273,018	302,072
Travel and subsistence	193	36,379	36,572	23,02]
Training costs and staff training	36	51,303	51,339	58,029
Health tk Safety	30	41,145	41,175	36,401
Materials and equipment	2,118	149,119	151,237	140,851
Professional services		77,982	77,982	84,738
Interest payable		28,215	28,215	29,271
Irrecoverable VAT		29,159	29,159	82,488
Sub-contractor costs		300,712	300,712	620,528
Marketing	140	37,964	38,104	34,223
Depreciation		67,881	67,881	71,221
Grant payable to SIBpartner	6,504	60	6,564	3,205
Sundries		3,040	3,040	1,284
Other		346	346	(88)
Loss on disposal ofassets		(194,282)	(194,282)	26,608
Governance		8,400	8,400	14,700
Total resources expended	~1	~24	~236 I	22 42

. Net (expenditure)/income for the year
	2022	2021
This is stated after charging:
Depreciation —owned assets	67,$81	71,221
Loss/ (Profit) on sale offixed assets	(194,282)	26,608
Interest payable
~ loan interest	28,215	29,271
Operating lease rentals:
~ property	5$,465	57,901
Auditors' remuneration		14700
. Staffcosts and numbers
	2022	2021
Staffcosts were as follows:
Salaries and wages	1,759,568	1,534,344
Social security costs	123,929	101,165
Pension contributions	47,023	41,806
Agency costs	20,656	22,894
Recruitment costs	149
Redundancy costs		9,953
Life Insurance	4,987	7,176

he avera	ge number ofemployees during the year was as f	ollows:
		2022	2021
		No	No
Training	tkeducation	91	78
Apprentices		4	4
			82

9. Ta	ngible fixed a	ssets
		Freehold and	Computer	Office	Motor	Total
		long leasehold	equipment	Furniture and	vehicles
		property		fittings
Cost
At the start ofthe year		2,633,129	266,205	328,726	40&777	3468,837
Additions	in year			17,573	20/10	37,883
Disposals	in year	(55,000)				(55,000)
At the end	ofthe year
Depreciation
At the start ofthe year		937,659	262,043	325433	40,777	1,565,712
Charge for the year		51,743	4,162	5,206	6,770	67,881
Disposals	in the year	(19482)				(19,282)
At the end	ofthe year	970,120	266405	330,439	47,547	1,614,311
Net book	value
At the end	ofthe year
At the start ofthe year

0. Debtors
	2022	2021
Trade debtors	180,682	107,389
Other debtors	169,272	54,011
Prepayments	41,968	61,512

1. C	reditors: amoun	ts due within one year
			2022	2021
Bank	loan —repayable	within one year	68,856	67,059
Other	creditors		869,828	898,236
Social	Security and Other Taxes		68,384	31,835

2. Credit	ors: amounts due after oue year
		2022	2021
Bank loan
repayable	within one to two years	72,289	69,810
repayable	within two to five years	227,432	219,634
Repayable	over five years	176,981	250,509

he carrying value	ofthe Cha	rity's financial instruments at 31 July w	ere:
			2022	2021
Financial assets
Debt instruments	measured	at amortised cost:
Trade debtors			180,682	107,389
Other debtors			169/72	54,011
Financial liabilities
Measured at amortised cost:
Bank loans			545,558	607,012
Other Creditors			869,828	898,236

4. Move	ments	in funds
			At I	August	Incoming	Outgoing	Transfers	At 31July
				2021	resources	resources		2022
Designated	funds:
Fixed Asset Fund			1,096,113			(129435)	125&073	1,091,851
Total designated		funds	I	113
Summary	ofFunds
Designated	Funds		1,096,113			(129,335)	125,073	1,091,851
General Funds			(I]5,181)		2,579,597	(2,697,639)	(91,863)	(325,086)
				980,932	2,579,597	(2)826,974)	33410	766,765
Restricted	Funds				142)287	(109,077)	(33,210)
						an&Itin

Movements	in fun	ds —prior	year
			At 1 August	Incoming	Outgoing	Transfers	At 31July
			2020	resources	resources		2021
							8
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		(1009492)	(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)
			I 04925D

15. Analysis ofre	str	icted fund movements
		At I August	Incoming	Outgoing		At 31July
		2021	resources	resources	Transfers		2022
SCC - Communities	Connected		24,765	(24,765)
SCC - RU Ready UC			20,355	(20,355)
Durham Works			46,010	(46,010)
SS—Healthy Teens	Project		6,058	(6,058)
Pedal Power			15,000		(15,000)
SCC —Summer Activities			4,999	(4,999)
Down at the Pit			4,991	(4,991)
SCC —Small Grants			1,333	(1,333)
SCC —Neighbourhood		Fund	18,210		(18,210)
Pallion Fun Day			566	(566)
Analysis ofrestricted		fund movements —prior year
		At I August	Incoming	Outgoing		At 31	July
		2020	resources	resources	Transfers		2021
		8	8			g
SCC - Communities	Connected		14,098	(14,098)
SCC - RU 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)

16. Analysis ofnet assets betwee	n funds
	Designated	Restricted	General	Total
	funds	Funds	funds	funds
Tangible fixed assets	1,637,409			],637,409
Net current liabilities	(68,856)		(325,086)	(393,942)
Long-term liabilities	(476,702)			(476,702)
Net assets at31July 2022

Analysis ofnet asset	s between funds —pr	ior year	ior year
		Designated		Restricted	General	Total
			funds	Funds	funds	funds
Tangible fixed assets		1,703,125				1,703,125
Net current liabilities			(67,059)		(115,181)	(182,240)
Long-term liabilities		(539,953)				(539,953)
Net assets at 31July	2021	1	11		11 11
17. Other financial	commitments
					2022	2021
					g
Operating leases which expire:
within one year					60,900	77,900
within one to two years					78,550	158,725
within two to five	years

			2022	2021
Net (outgoing)/incoming		resources:	(214,167)	(68,325)
Interest receivable			(80)	(213)
Interest payable			28,215	29,271
Depreciation			67,881	71,221
Loss/Profit on disposal		offixed assets	(194,282)	26,608
(Increase)/Decrease	in	debtors	(169,010)	(28,868)
(Decrease)/Increase	in	creditors	8,141	(174,952)