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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|||
|||||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|||
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|||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|
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|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|
##
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##
|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||||||
##
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||||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)|
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