commilgion COMPANY NUMBER: 02121694 CHARITY NUMBER: 519650 SPRINGBOARD SUNDERLAND TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
SPRINGBOARD SUNDERLAND TRUST INDEX YEAR ENDED 31 JULY 2025 Contents Pages Legal arKI Administration Details Twslegs. Report Indgpendent ALKlitors Report to the Trustees 9-12 Statement of Financial Activities 13 Staternent of Fina181 Position 14 Cash Flow Statement 15 Notes to the Financial Ststements 16-28
SPRINGBOARD SUNDERLAND TRUST LEGAL AND ADMINISTRATIVE DETAILS YEAR ENDED 31 JULY 2025 Regi5ter•d Charlty Name Springboard Sunderfand Trust R•gistralion Numbers Charity Number 519650 Company Number 02121694 Trustees Jonathan Nicholson (Resigned 0511212025) John Colin Wilson Denise Wilson Graham Burt (Tnjstees are also the directors for the purposes of company law) Principal Stafflsecretary Stephen George Reay Key Management Personnel Lisa Gregory- Head of Finance Janine Doughty- Head of Performance Stephen George Reay- Chief Executive Olficer Leanne Green- Training Manager (South) Keith Miller- ICT Manager Andrea Whincop - Head of Training Chrissie Watson- Quality Assurance Manager R•glstsr4d Ofllce The Alèc Dickson Centre Rivergrean Industry Centre Pallion Sunderland SR4 6AD Audltors Torgersens East Suite, Ground Floor Avalon House st Catherine's Court Sunderfand SR5 3XJ Bankern Barclays Bank PIC Sunderland City Branch Fawcett Slreet Sunderfand SR1 1RS
SPRINGBOARD SUNDERLAND TRUST TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 JULY 2025 Trustggs Rgport 2024- 2023 The Trusteas, who are also directors for company law purposes, submit their annual report and t financial statemènts of Springboard Sunderland Trust for the y8ar8nded 315t July 2025. Reference and admini$traliv• information set out on pag8 1 forms part of this r8POrt. The Trustees confirm that the annual report and financial statom8nts of thè Company comply with current ststulory requirements, Ihe requirements of the Company's goveming document and Accounting and Reporting by Charities Stslement of Recommended Practice Applicable lo Charitiés pr8paring their accounts in accordance with the Financial Reporting Standard Applicable in thè UK {FRS1021 {8lTective 1 January 2019). StNctur•, Gov•manc• and Manag•m•nt The crganisalion Is a charitable company lImed by guarantee, incorporated on 9th April 1987 and registered as a charty on 21st December 1987. Thg Trust was established under a memorandum of associ8tlon which estsblished the Obj1$ and powers of the charitable company and is govemed by ils articles of association18St updated on 31 July 2014. The Trust has established risk management procedures whlch Involve identifying and monltorlng rlsk and taking approprkqle action where necessary. The board belleves Ihal appropriats $yslem$ are In place to mitigate the major risks to which the company is exposed. The Twstees have referred to the guidance contained in the Charity Commission's general guidan on public b8nèfil whén r8viewing the Trust's aims and objectives and in planning its future aclivilies. In particular, thè trustèès consid8r how plann8d activities will contribute lo the aims and ollectives that hAve bèon sèt. R•cNltm•nt and appolntmènt of tNstè•s Trustees are appointed at a Trustees meeting. Prior lo inviting nominees, the Chair and Chief Executwe Officer review the experience and skills base of the nominated trustees. On apwinlment. each trustee received a full briefing and induction on the activities of the Trust. The trustees of the charitable company (the Trust} are its directors for the purposes of company law. The trustees and afficers serving during the year and slnce the year end were as follows.. Jonathan Nicholson (Resigned 0511212025) John Colin Wilson Doni$e Wllson Graham Burt Steve George Reay- Se¢tary ObJ•ctlves and Actlvltl•$ The Trust's primary aim is to support the development of sugtalnable communiti8s, wh&rè pè0• hav8 the skills they need for work and life. The main strategic objectives of the Trust for the period were.. Ensure the long term sustainability of Springboard Monitor perfomiance lo enable continuous improvement Deliver the current range of services and expand our a¢tivf(i8s Grow the business
SPRINGBOARD SUNDERLAND TRUST TRUSTEES. REPORT (INCORPORATING THE DIRECTORS, REPORn YEAR ENDED 31 JULY 2025 Pay policy for key managoment rsOnnel The Trustees of Springboard and the senior management tearn comprlse the key management personnel of the Trust in charge of directing and ¢ontrolling, running and oporating the Trust on a day lo day basls. Trustees give their time freely and no one received remuneration in the year in their role as tNslee. Salary levels of the senior management team are revlewed annually by the Trustéés based on sector benchmarking. R•latod Partl Springboard and Sunderland RCA Football Club ar8 related parties during the year. Colin Wilson is 8 member of RCA management committee and is a Trustee of Sprin9board Sunderland Trust for the year ended 31 July 2025. Springboard Sunderland Trust and North East Learning Provider Netsvork were r81alod partie$ during the year. Denis8 Wilson is a Trustee of North East Leaming Provider NeOrk and a Trustee of Springboard Sunderland Trust for the year end 31 July 2025. Steve George Reay is Chair of the North East Leaming Provider Nthork as well as Secretary and Chief Executive Officer of Springboard Sundedand Trust for the y8ar 8nded 31 July 2025. Introductlon Thè organlsation 19 managed by a Chief Execukn've and three Heads of Departments responsible for Opèrations. Performance and Finance. Each department had its own strategic oblectlves which linked to the Trust's overall strategic plan. There is a struclural review taking place to increase the quality of provislon and efficiencies across the staff team which will complete for the start of th8 26127 Academic y8ar. In this financial year to 31 July 2025, 594 pètrp were active on mainstream programm8s including 341 Study Programme leamers. 221 ASF learners and 32 Apprenti¢es. The ongoing impact of thè pandemic continues to have a bearing on children and young people's approach lo pre 16 education, their outcomes and achievements and their r8luctance lo engage in post 16 leaming, specifically those with additional needs and those seeking apprenticeships. National increases in isolation, heightened anxiety and a rise SEMH needs all contributed to regional difficulties in recrulllng and retaining young people on our foundation study programmes and apprentlceships. We are seeing year on year increa8es in young people with additional needs a¢ross all communitl8s and local aulhorilies w& work in. Local Authority funded programmes supportin9 residents In communlty settings continued to see a large ratè of engagement and have once agaln been subject lo contr8¢t extensions as a result of Ihelr successful impaGt. A programme to support adults in digital skills received an addltional contract extension due to its success and engag8d over 400 clients. our welfar• bfrnefit advice project once again supported over 200 clients. Wè saw additional growth in new funded programm95 cemenling our position in the communty, supporting those most in need. Two separate'C18an It Green It. projects in both the city and Coalfields were extended. and a separately funded environmenlal proj•¢t in partnership with communlty stakeholders in the Coalfields is now underway. Most of note was the new strategi¢ partnership with Together for Children in provid8d targeted SUPPL*( for permanently excluded young people through Altemalive education Strateglc Report The overall Income of the Tnjsl forthe year was £3,418,484. This is an increase of £202,551 on thè last finartclal year. Totsl expenditu 1$ £3.845.244, an increasè of £814.661 on the last financial year. An operating deficit of £426.760 is recorded.
SPRINGBOARD SUNDERLAND TRUST TRUSTEES, REPORT (INCORPORATING THE DIRECTORS. REPORT) YEAR ENDED 31 JULY 2025 At the year end the overall fund balance of the Trust slood at £374.077, represented In a large part by freehold properties owned by us and used lo further our activities. Th& long term strategy of Springboard in lermg of propeity and resource management in areas cf devebpment has proved again to be effective and sustsinable. Achlevements and Perforniance Springboard continued lo be one of the North East's loading training. employment and communlty development organi8alions. Desplte the ongoing challenges of the ongoing impact from the pandemic on our young people who were then secondary school students, a number of indicators showed improvement in the year 24125 from 23124 Includlng: 16-19 study programme achievemenl rose by 211 16-19 study programme retention rate rose by 9.7% Apprenticeship pass rate 100°A SF 61% achievement rate Stafflng The organisations succession process of aligning operations staff saw a reduction In staff responsible for supervision and increase in learner support and delivery. This structure is now well bedded within the key areas of SEND, Maths and English. Practical Skills. Foundation Skills and Health and Social Care. Staff numbers in 202412025 averaged 95 including, part lime and zero-hour staff members and apprentices. Up from an average of 85 in 202312024, this was due to an escalation in critical learner support staff lo address increases in 18amer needs. malemity covers and additional staff supporting yber attack recovery. Principal risk$ and uncertainties Princlpal risks and uncertainties overthis period continuè lo include the ongoing impact of the pandemic on young people's approach to education and employment. Changes to legislation, the Hitroductlon of Skills England. the transfer of all ESFA functions to the DIE, and local govemment re$tructtJring due to the North East Devolution, all present signifi'cant unc8rtointies A large reduction in the number of low•r-18vel apprenti¢eships. such 8$ thtxe sought by Springboard learners, and the introduction of fees for employers and 'off the job. requirements continue to result in a reduction in the nUMr of apprenticeships undertaken. in line with national results. The ongolng reform of qualffjcations at Level 2 and Level 3 will wnlinue to impact the programme offer. Employerfs reluctance lo invest in staff developmeftl continues to impact Apprenticeship uptske with a reduction in new starts mirroring the national picture. Nationally apprenticeships have Seen a decline lo around S0°/0 of pre-covid numbers, this 18 refiecled regionally with Springboards performance in the market. A reduction In the number of vocatronal areas in Study Programme and Apprenticeships offered. consolidating our offer to meet the needs of our cohorts, and an increase in critical leamer support staff. had a financial impact on performance but resulled in a signfficanl inGrease in quality a1 outcomes for our most chall&nging learners. As a charity the economic environment within which we operate is very import8nl. GNen our mission to work in dgveloping sV$tainable communities. it often means working in areas of high social deprNalIC. The UK Shared Prosperity Fund hag been replaced by the North East Combined Authority Adult Skills Fund.
SPRINGBOARD SUNDERLAND TRUST TRUSTEES. REPORT (INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 JULY 2025 Funding resulted in a 12 month contract providing colnmunity support, education and training to those most in ne8d. Due to its initial success this contrad has now been extended for another 15 months. The areas that hav8 been hit hardest by continued austerity aml local authority funding ¢uts. reducing opportunffties for community support programmgs, have now been supported through new fomis of devolved funding. There was a significant cyber-attack in January 2025 and critical recovery spann•d 3 months. The Charity Commission were supplied with an immediale report and relevant information bul did not consider it a seiious risk following the investigation by ICO and the National Cyber Crime Team. despite the impact on our income and performance in this financial year. Due lo its nature the attack had an extended impact on the organisalions ability to operate online. affecting 811 aCtiV.eS including promolion. engagemenl, recruitment, induclion. online delivery and partnerlstakeholder engagement. Sludy Prcgvamme and Adult Skills both saw significant reductions in starts and a¢hievements directly impacting income and perfomiance. Folbwing the critical recovery period the organisatlon faced hallengès in data rebuild and operational information, adding additional financial impa¢l through the purGhase of rfrgources including hardware, sofvare and licences, staffing and profes$lonal SLtpport Futurè plans The organisation now works ck)sety with the North Ea91 Combined Authorty through the award and now subsequent extension of a direct Adu Skills Contract. This is a growth are8 for the Springboard. An additional pyimary themes are SUPPQrted through advisory p081tions on the Pre 16 Inclusive Futures 803rd and the Technical Education Advisory Group for Post 16 which will prove key to the strategic growth of the organisation in 26127 and devolved funding tslls under the di¢1 control of NECA. Through this dose work with NECA, Local Authorities. regional FE Partners and stskeholders Springboard has begun to align the offer. meeting the emerging needs of employers and participants across the region. Shifts in vocational foeLES and slaffing reffect the changes in local needs of the communities within which we operate. a focus on construction and the buill environmenl. in partnership wf(h FE institutions and key stakeholder employers will help Springboard meet NECA'S Growth Plan and North East Employment and Skills Strategy. We have segn a substantial Increase In young people entering educalion wlth additional needs, both registered and sew-idenlified. 100Yo of our 16-19 learners in 24125 were from disadvantaged backgrounds and this trend continues. As a response we increased staff numbers to provpje ¢r(ti¢al leamer support which has a sign¢fan1 financial impact but increased retention and learner success. A 10% increase In our commlssioned contract places supporting EHCP (Educational, Health and Care Plans} for 26127 reflects an increase in the number of young people with SEN needs, the Contract continues to provlde the Local Authority wllh critical support for specialist provision across lh6 region. Springboard continues to be viewed by schools, parents and stakeholder agencies are the allernatlve lo local Colleges for those who can't or won't attend mainstream or formal education settings. A new commi89ioned contract for pre 16 student Attematlve Education p18¢ements has been successfully running since Sept 25 and its futu confimied with a new contract for 26127 in place. A key area for Springboards focus and growlh. this provlsion meets the needs of young people across the city and places the organisation as a strategic partner in the provision of pre to post 16 education and training opportunities for young people bmth additional needs. Springboard are now a Registered Provider on the Vulnerable Pupil Panel, meetlng critical need across the region. Discussions with an additional 2 local authorities a underway mirroring the Sunderland a standalone provision to meet growing local need across the region. A Pre 16 Project is being designed with NECA'S Inclusive Future team to support the DfE dirgctive of increased work experience opportunities for young people, the focus is on those permanently excluded or not in mainstream education across the region. This will place Springboard central to NECAS work as a prime Providei of services to this cohort of students.
SPRINGBOARD SUNDERLAND TRUST TRUSTEES. REPORT (INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 JULY 2025 The Futures projects continu8 to grow lo meet an increase in need for young people with additional needs a¢ross the region. This projèct provides additional education, training and support opportunities for learners with SEND and has increased external engagement with partner institutions. This is refle¢ted by the 109A increase in our commissioned numbers for EHCP for 26127, supporting LA'S to meet their statutory needs. Despite the challenges pres8nl8d by the Cyber Attack. fvrther development in our VLE (Virtual Learning environment) education plattorms continue to provide blended delivery to support our leamers where appropriate and are part of the wid8r strategic plan lo offer increased online leaming to adums as part ol the North East Mayoral Combined Authority funding streams followng full transition to devolved oversrte. The ASF eontract is now in its second year. and an improved system supports our leamers lo achieve successfully. facilitating fvrther grO¥h of this offer in both capacity and qualfficalion areas. The further expansion of the Health and Social Care and Construction 16-19 Study Programme offer has seen both programmes operating at full capacty in response to the demand for increased training and employment opportunities within Sunderland and Soulh Tyneside. Partnerships with national employers in Construction and Health and Social Care havè resulted in training programmes with co designed cu1¢U1Urns lo meet Ihe specific needs of the labr markets emarying trends and expansion in green skills jobs. This SponSive curriculum developmÈnl modal continues to grow with new employers to ensure best use of the range of high-qualily facilitiès owned by Springboard. Working wilh Local Authorities in East Durham and Teesside new projects arè now planned for our facilities in these areas to meet demand in the 26127 academic year. An additional two Construction Facilities are planned with staffing for launch in the summer of 26, whilst this creates increased strain on finan¢e$ the development is essential lo meet local learner and labiyjr market need. Two additional sub¢ontracls have been confirm8d with anchor inslitulions. delivery of these contracts will begin in the summer of 26 and are conffrmed for a minimum of 3 years, increasing the organisations income, foolprlnl and yallOnal offer. A further expansbn of Foundation Engineering 1$ planned for 26127 for South TynèsKle lo meet the training and èmployment need of the IAMP and Dogger Bank Windfami, research and partnership work with Stakeholders have resulted in a Goproduced programme, and this is séèn as significant development In Sprlngboards offer. The management of the subGonlracled provision continues to improve high standards of integrty and quality applying to all of Springboaid's leamers across the mgion. Extemal subcontracting will be reduced in 26127 to support intemal growth and capacty. Additional future plans include working with our local authorities to inform and support their Post 19 Adult Skills DelDiery through th8 CEOS seat on the Sundedand Skills, Progression and Employment Shadow Board, and assisting senior Officers of NECA in the planning of their upcoming Adult Skills Fund delivery for 26127. The r&introduction of adult skills training in Health and Social Care and Construth"on has complimented Springboards offer and better meets current and emerging employment nèeds, this remains a key focus for growlh in 26127. L2 Apprenlic¢$hips. Foundation Apprenticeships and Flexible Apprentice Unit delwery Bre key areas of focus for Summer 26 and the 26127 academic year. A 3 year growth plan is in place which requires the scaling up of Business Development functions. an additional strain on immediate finances bul will $upport future developmènt across the organisalion and increase income whilst addressing the govemmenls focus on the support of NEET young people in to the workforce. historically the organisations key cohort. R•soNes Pollcy The Trustees wnsider that the ideal level of res9rves as at 31st July 2025 would be £750k. This has been set as 3 months CO costs expenditure. The actual level of free SerVeS as al 31 July 2025 is deficit of £786,281 and the trustees have pul eosl savlng plans In ple during the year to increase reserves.
SPRINGBOARD SUNDERLAND TRUST TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT) YEAR ENDED 31 JULY 2025 Going Concern Thg tru$tee$ draw your attention to the going con¢em poIY in note 1 of the accounts together with note 23. The Trust prepared forecasts for the period to July 2027. The Trust nolÈs the net current liabilty Position at 31 July 2025 of £864,580. The trust ¢ontinue$ to review surplus #slate In order to realise cash aThJ h61p reduce the net current liabilities. Deparknenl for Education Study Programme core funding alkneatkjn for 25126 has increased 22'A sin¢e 23124 with a 16.6°A increase in the last academic year. The allocation for 26127 shows a redu¢ts'on in core funding of 13%. This was as a result of recruitment in 24125 being impacted by the January 25 cyber attack, reducing the lèvel of eamings in that year on which the 26127 allocation is based. The reduction in core funding will have no impact on the organisalion's intern81 delivery. The reduction In allocation can be absorbed by ¢onden$iry the offer to subcontractors. The new Local Authority Commissioned contra for Altemative Education 25126 has resulted in a significant increase in income from £11,000 in 23124 to over £700,000 for 25126. An agreement is in place to extended delivery into 26127 academic year wlth an uplwi In funding in line wrth inflation. A new subcontract has been secured in 25126 and wtll continue through to 28129 wrth EPNE. as part of their CTEC partnership adéressing the skills shortage in construction. An addttional contract has been secured for 26127 with South Tyneside LA delivering full lime vocalional 16-19 Training and a bespoke single parenl's support and education programme. A new programme of Construction Delivery is scheduled for summer start 26 in Hartlepool at thg request of the Local Authority. There has been an Sncrease in Nursery irrne from 23124 to 25126 as a r•sult of the expansion of the govemment lunded childcare schemes. Further revision of the provision introduced in 25126 academic year and continuing into the 26127 academic year results in an increase in grant funding of 28Yo on the 25126 year. This signrficant income growth secures the viability of nursery provision as a going concem. Formal negotiations are underway with NECA and a large Social Housing provider to fund access for all students with additional needs to Springboards Construction Academy whlch Is due for launch summeT 2026. supports'ng the slralegic need for Alternative Provision places from schools across the city whilst crèating an addrtional income stream for the charity. The tte•S believe that the Trust is well placed to manag8 its risks su¢ce$sfvlly and thus have adopted going concern basis of accounting. Stat•m•nt ol Trust•es R?sponslbllltles Thè tTUStees (who are also direGtors of Springboard Sunderland Trustfor the purposed of company law) are Sponsible for preparing the trustees, report and the financial ststemenls in accordanc¢ wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Actspted Accounting Praclicel. Company Law requires directrjrs to prepare financial statements for ¢ach financial year which give a true and fair view of the slate of affairs of the charitsble company and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparlng these financial statements. the directors are required to.. Select suitable accounting policies and thgn apply them consislenuy ObseNe the methods and principles in Charities SORP Make judgements and estimated that are reasonable and prudent State whether applicable UK Accounting Star)dards have been followed. suty-ect to any material departures disclosed and explained in the financial statements., an¢J Prepare Ihe financi81 stalgments on the going concem basis unless 11 Is Inappropriate to presume that the charty will continue in business.
SPRINGBOARD SUNDERLAND TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SPRINGBOARD SUNDERLAND TRUST YEAR ENDED 31 JULY 2025 The truytees are responsible for maintalnlng proper accounting records which di$dose with reasonable accuracy al any time the finan¢lal posltlon of the charitable company and which enables them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguardin9 the assols of the charitable company and hence for laking reasonable Steps for the prevention 8nd d8le¢fjon ol fraud and other irregularities. In so far as the trustees are awai&: There is no relevant audit infomation of whl¢h the charltable company's auditors are unaware, and the directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit inforrnatlon and to establish that the auditors are aware of that information. And slgned on their behalf: G. Burt Date 0710412
SPRINGBOARD SUNDERLAND TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SPRINGBOARD SUNDERLAND TRUST YEAR ENDED 31 JULY 2025 Oplnion We have audiled the financial statements of Springboard Sunderland Trust (the 'chafiW} for the year ended 31 July 2025 which comprise the statement of financial positlon, statement of cash flows and the related notes, includiNJ a summary of si9nific8nt accounting policies. The financlal reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdorn Generally Accepted Accountin9 Practice). In our opinion Ihe financial stslements.. giv$ a tru& and fair vlew of the stal8 of the charivs affairs as at 31 July 2025 and of its incomiTrJ r8sourc8s and application of resources, incILIng its income and expenditure, for the year then have been properly prepared in accordance wrth Unrted Kingdom Generally Accepted Accounting Praclice,. have been prèpared In accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audil in accordanc8 Wlth International Standards on Auditing {UK} {ISAs (UK}) and applicable law. Our responsibilities under Iho&è standards are further described in the auditorfs responsibilities for Ihe audit of the financial stat8rn8nls section of our report. We are independent of th8 charity in accordance wlh the ethical requir8m8nls that are relèvant lo our auéit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our 0th8r 8thical sponsibililies in accordance with these requirements. We bolieve that the audit evidence w8 have obtalned 58 suffkl8nl and appropriate lo provide a basis for our opinKJn. Con¢luBlons r•latlng to golng concern Wè draw your attention to note 23 in the financlal statements which describes that the trust has a material Ltnsecured creditor (for which no formal rep8yment tems or fixed repayment date have been agT88d) As at the repo.ng date. the creditor has not demanded repayment. However. should the creditor seek repaymenl within the next e1ve months. the trust would be required to realise a portion ef ils assets in order to meet this obligation. Thls condition indicates the existence of a material uncertainty which may cost signrficant doubt o the trust's abilty to continue as a going concem. Our opinion is not modffied in respect of this. Other Inforniatlon The other information comprises the infonnation included in the annual report. other than the financial Statements and our auditor's report thereon. The trustees are responsible for the other information contained in the annual rewrt. Our opinlon on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our repryt, Wg do not express any fomi of assurance conclusion thereon. Our responslbilty is to read Ihe other infomiation and, In doing $0. conslder whether th8 Othèr information is m£terlally Inconsistent with th8 financial statemenls or our knowledge obtained in tho course of the audit or otherwise appears to be materially misstated. If we identify such materfal Inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude thal there is a material mlsstatem8nl of thls other information, we a required to report that fact. We have nothing to report In thls regard.
SPRINGBOARD SUNDERLAND TRUST INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF SPRINGBOARD SUNDERLAND TRUST YEAR ENDED 31 JULY 2025 Opinions on other mattèrs prescrlbed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of the audit the information given in the trustees, report for the financial year for sthich Ihe financial statements are prepared is consistent with the financial statemenls,- and the tnJstees' report has been prepared in accordance with applicablo l¢gal requlrements. Matters on whlch we aro r¢qulred to report by exception In the light of the kno5dge and understandin9 of the charity and ils environment obtained in the course of Ihe audit, we have not identifieé material misstatements in the trustees, report. We havg nothing to rawt in respect of the following matters in relation to which the Companios A 2006 rgquires us to rèport to you if, in our opinion.. adequate accounting records have not been kept, or retums adequate for our audit have not beon recgived from branches not visited by us., or the financial sl8tements are not in agreement with tho accountlng records and retums- or rtain dis¢losureg of trustees, remuneraliori 5p8crfd by law are not made: or we hav• not re¢eNed all the infomialion and èxplanations we require for our audit,. or thè trust8es were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies. exemptions in preparing the trustees, rewrt and from the requirement lo prepare a strategic report. R•$ponslbllltles of trustees As explained more fully in the trustees. r&sponsiblllti8S Statement set ct on page 6, the trustee5 (who are also the directors for the purposes of company law} are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such intemal control as the Iruslees determine Is necessary to enable the preparation of financial stslemenls that aro free from material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are r8spon$ible for assessing the ch8ritls ability to continue as a going concern. disclosing, as applicable, matters related to going concern 8nd using the going concern basis of accounting unless the trusle8S •lther intend to liquidate the charity or to cease operations, or have no realistic alternative but to do $0. Audltorfs responslblllllos tor the audlt of thg flnanclal stat•m•nts Our obj8dves are to obtain reasonable a5suranca about whether the financial statsments as a whole are free from material misstatement, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonablè asgurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a matgrial misstatement when it exists. Misstatements can arise from fraud or error and ar8 considered material rf, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users tsken on the basis of th95• financial slatemenls. Irregularities. includiro fraud, are instances of non-wmpliance with laws and regulations. We design procedures in line with our responsibilities. oullined above. to detect material misstalemonts in respect of irregularltles, including fraud. The extenl lo which our procedures are capable of detectlng irregularitles, Induding fraud is detailed below.. -10.
SPRINGBOARD SUNDERLAND TRUST INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF SPRINGBOARD SUNDERLAND TRUST YEAR ENDED 31 JULY 2025 Explanatlon as to what ext•nt th8 audlt was ¢onsldgr•d c¥pabl8 of detectlng Irregularltl•s, Includlng fraud The objectives of our audit with Trgards to fraud are to design tailored and spe¢ifi¢ audit procedure8 to enable us to gather sufficient audit evidence. These tests are proportionate and appropriate lo the charitable company in terms of assessed risk level and the nature of the entity's activities. However, the primary r8sponsibility for the prevention and detection of fraud rests with those charged with governance. We obtained an understsnding of the legal and regulatory tsquirements whlch applied to the charitable company, which we deemed to be the Companies Act 2006, and Statement of Recommended Practice to ¢h8rilies. the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP {FRS10211. We obtained an underslandlng of how the charitable company had Complied with these regulations by VIewing their treatment of transactions, reviewing minutes of meetings and discussing compliance trustees and those charged with governan¢e. We assessed tho risk of material misslalement of th8 financial statements. including the risk of material misstatement due to fraud and identrfied that incomé from ESFA for education and apprenkn'ceships and grants is most suscepts'ble lo fraud or èrror. Wè designed our audit work to test the controls in place regarding the processing of thes8 transactions and how these controls are capable of preventing or detecting fraud or error. Within the year erKI there was a cyber breach impacting the availability of information r81ating to year ended 31$1 July 2025 resulting in ext•ndod audil testnig. Our audit procedu8 gathered eVKIen to support the ciaims of the trustees whi15t maintaining profèssional scepticism to allow us lo draw our own conclusion on the matter. As part of an audit in accordance with ISA5 (UK), wg exercise profession81 Judgment and maintain professional scepticism throughout the audit. We also.. Identtfy and asses5 the risks of material misstal8ment of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of not detecting 8 material misstatement r•$ulting from fraud is higher than for oné resulting from error. as fraud may involve collusion, forgory. intentional omissions, misrepresantatlons. or the override of internal control. Obtain an understanding of internal control relevant to the audit in orderto design audit procedures that are appropriate in the drcumslances. but not lor the purpose of expressing an opinion on the effectiv8nèss of the internal control. Evaluate the approprlateness of accounting policies used and the reasonableness of accounting eslimales and related di8closur68 made by the Iruslees. Conclude on the appropriateness of the trustses. use of the wing concern basi$ of accounting and. based on the audit evidence obtained, whether a m8teri81 uncertainty exists relatod to evenlg or conditions that may cast Sl9nificant doubt on the chartty's ability to continue as a going concem. If we conclude that a material uncertainty exists. we are required lo draw attention in our audf(orfs report lo the related disclosures in Ihe finaneial ststements or, rf such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the audit evidence obtained up to the dat8 of our auditor's report. However, future events or conditsons may Cause the eharty to cease lo continue as a going con¢grn. Evaluate the overall presenLqtton. structure and cont8nt of the financlal stslements. including the di$clo$ure$, and whetherlhe financial stat8m8nts representthe undedying transactions and events in a manner that achieves fair presentation. 11
SPRINGBOARD SUNDERLAND TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SPRINGBOARD SUNDERLAND TRUST YEAR ENDED 31 JULY 2025 We Communicate with those charged with governance regarding, among other mallers. the planned scope and liming of the audit and signiant audit findings. including any significant deficiencies in intemal control that we idèntify during our audit. Use ol our report This report18 made solely lo the ch8riiable company's members. as a body, in accordance wlth Chapter 3 of Part 16 oflhe Componigs Act 2006. Our auditwork has been undertaken so that w& might state to the charitable company's members those matters we are required lo state to them in an auditorfs report and for no other purpose. To the fullest ext8nl pemitted by law, we do not accèpt or assume rèsponsibility to anyone other than the charitabl• company and the charitablè company's members as a body, for our audf( work, for thls report, or for the opinions we have formed. Aison Henshaw FCCA (statutory Auditor} For and on behalf of TORGERSENS Chartered Accountants & Statutory Auditor East Suite. Ground Floor Avalon House Sl Catherlne's Court Sunderland SR5 3XJ Date.. 07/05/2 12-
SPRINGBOARD SUNDERLAND TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 JULY 2025 Unrestrlcted Restrlct¢d Funds Funds Total 2025 Total 2024 Note Income: DonatK)ns and legacies 2,353 2,353 2.880 Charitsble adivities 3,133,086 276.751 3,409.837 3,205,650 Investment income 6,294 6294 7,4Q3 Total Incomlng resources 3,141.733 276,751 3,418A84 3,215,933 Exp•ndltur&: Charitable aclvlties 3,585,376 259,868 3,845,244 3,256,264 {ProfityLos5 on sale of fixed asset 1225,6811 Total expendltur8 3,585,376 259.868 3.845.244 3,030.583 Not incomellexpendlture) (443,643) 16,883 1426,760) 185,350 Net movement In funds 1443.643) 16,883 (426,760) 185,350 Transfor beton funds 86,723 (86.723 R•conclllatlon of funds Total funds brought lorward Total funds carrl•d forward 730,997 69,840 800.837 615.487 374.077 374,077 800,837 The statement of financial aclNill&s Includes all gains and losses r8cogni$ed in the year. All incoma and èxpenditure derive from continuing activities. The notes on pag85 16 to 28 form part 01 these financlal statements 13-
SPRINGBOARD SUNDERLAND TRUST STATEMENT OF FINANCIAL POSITION YEAR ENDED 31 JULY 2025 Not• 2025 2024 Flxed Assets Tangible fixed assets 1,483,693 1,497,390 Current assets Debtors Cash at bank and in hand 10 259.336 361,215 316.146 549,017 620.551 865,163 LlabllFtles Creditors.. amounts falling due withln one y8ar 11 (1.485.131) 1864,580) {1,238,6601 1373,4971 Net curr•nt Il•bllltles Total assets less current liabilities 619,113 1,123.893 Credltors: amounts falllng due after more than one year 12 1245,036} {323,056) Not assets 374.077 800.837 Funds unstrICted funds Designated funds General funds 14115 14115 1,160,358 1,098,972 {786,281) 1367,975) 374,077 730,997 69,840 Restricted funds 1411S Total Charlty Fund$ 374.077 800,837 The trustees ackrKiwledge their rgswnsibilTrties for. {1} ensuring that the charltable company keeps proper accounting records which comply with section 386 of the Act.. and {iil preparing financial statements which give a twe and fair view of the stale of affairs of the tharftable company as at the end of the financial year 8nd of ils incoming resources Énd application of resources. including ils surplus or deficit for the financial year in accordance with the requirements of Section 394 and 395, and which otherwise compty with the requirements of the Act relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicablè to small companio$ subject to the Small companies regime ond in accordanc8 With FRS102 SORP. These financial statements were approved by the trustees on O I (0 512 and are signed on their bghalf by.. G. Burt Company number 02121694 The notes on pages 16 10 28 form part of these financial ststements 14-
SPRINGBOARD SUNDERLAND TRUST STATEMENT OF CASH FLOWS YEAR ENDED 31 JULY 2025 Note 2025 2024 Net cash flows from operatlng actlvltl¢$ 19 131,598) 34,440 Cash Flows from Inve8tlng Actlvltlos Inlerest re¢elved Inlerest paid Paymenls to acquire tangible fixed assets Proceeds from $81e of tangible fixed assets 6,294 115,225) {72,195) 7,403 {17,8641 250,000 Not Cash Used In Investing Activltl•s Taxatlon 181,126) 239,539 Cash Flo from Flnancing A¢tivltl•s Repayment of bank loans Net Cash {used In} Flnanelng ActItIeS {75,079) {75.079) {72,210) {72,2101 Chango in Cash and Cash Equivalents In the Reportlng Perlod Cash and Cash Equlvalents at the Beglnning of th• Year Cash and Cash Equlvalents atthe End of th• Year 1187,803} 201,769 549,017 347,248 361.214 549.017 The notes on page$ 16 to 28 form part of the$& financial statements -15-
SPRINGBOARD SUNDERLAND TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2025 Accounting Poli¢i•s The principal accounting Wici&s arè summarised below. The accounting policie8 have been applied consistently thghout the year and the preceding year. Basls of Accountlng Springboard Sunderland Trust is a charitable company, limited by guarantee, registered In England. The address of the charity's registered office and principal place of business is The Alec Dickson Centre, Rivergreen Industry Centre, Pallion, Sunderfand SR4 6AD. Springboard Sunderfand Trust meets the definition of a public benefit enlity under FRS 102. The charity exists for the benefit of Ihe public through the provision of training and educats'on to ywng people and adults. These financial statements have beer4 prepared in accordance with the Charitses SORP IFRS102} -Accounling and Reporting by Charities"; Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financi81 Reporting Stsndard applicable in th8 UK and Republic of Ireland {FRS 1021 {effective 1 January 20191. and the Companies Act 2006. Assets and liabilili8s are inilially recognised al historical cost of transaction value and in accordancè with the Slalement of Recommended Practice 'Accounting and Reporting by ChÈrilies' effective al 1 January 2019 (Charities SORP IFRS 102)) and the Companies Act 2006. The financial $talemenls are presented in sterling which is also the functional currency of the Charity. The monetary amounts in these financial statements are rounded to the nearest £. except where ottwwise indicated. Going conc¥m The financial 8tstemenls have been prepared on a going nCern basis, whh assumes that the Iru$l will continue to operate for the foreseeable fuluro. In assessing the appropriateness of the going Goncern basis. management has prepared cash flow forecasts and budgets up to 3191 July 2027. These forecasts lake into ac¢ount the current finan¢ial position. agreed and expected future funding and available firk2ncial resour¢es. The trust has a material unsecured credf(or for which Th) fonnal repayment ternis or fixed repayment date have been agreed. As at the date of the approval of these financial statements. no demand for repayment were qUeStsd, the trust has identified a number of assets which are surplus to the trusts operations requirement in order to meet this obligation. Management have consider8d this in ils ass8ssmenl of going concem and the twstees have a reasonable expectation that the trust will be able io operate and meet its obligations as they fall due for the foreseeable future. A¢¢ordlngly. the fiDan¢ial statements do not ilUde any adlustments that would resull if the ¢omp8ny We unable lo Continue 8$ a golng ¢oncern. Income Voluntary income is received by way of dOnaon8 and glfts and Is Included In full In the statement of financial activities when receivable. Income from the sale of goods and servlces is recognised in the financial statements during the year in which the service is carried out and therefore entitlement is earned. Revenue and govemment grants a credited to the statement of financial activities when receivable. 16-
SPRINGBOARD SUNDERLAND TRUST NOTES TO ThE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2025 Where unconditional entitlement to grant$ receivable is dependent upon fi1lIment of condrtions within the charity's control. the incoming resources are recogni$8d when there is sufficient evidence that conditions will be met. Whore there is uncertainty as to whelher the charity can meet such cornlitions the incoming resource is deferred. Contract income 1$ reeognised in the finan¢ial statements to the exlenl that entitlement has be8n eamed at the year end through completion of the contract. Income from the sale of other goods and services Is recognised in the period in which Ihe goods or seNice is provided lo Ihe customer. Investment income is ineluded in the Statement of Flnan¢lal Activlties on a receivable basis. Fund accounting Restricted funds are to be used for specific purposes as laid down by the donor. Expenditur8 which meets these criteria is charged to the fund. Unrestricted funds are donalons and other incoming resources received or generated for the general charitable purposes. Designated ndS are unStrIcted fijnds earmarked by Ihe trustses for particular purposes. Resources oxpended Resources expended are recognised in the period in which they are iDGurred. Resourc•$ expermled include attributable VAT which cannot be recovered. Resources expended are allocated to the particular activity where the cost relates directly to that activity- As the charitsble company only carried out one activity during the year, support costs have Th)t bgen sèparately analysed. Govemance costs are the costs associated with the govemance arrangements of the charlty. These costs ar8 ag90¢iated with conslitulional and statutory requirements and include any costs a8socl8ted with the Strategic management of th• char'ty's activities. Subcontractors costs represents Education & Skills Funding Agency {ESFAI income earned by subcontractor$. where the contract with the ESFA is with Springboard Sunderland Trust. This expenditure 1$ recognised as a lower of the profile amount payable per the contract between the charity and the partner and the actual income eamed by the partners during the period. less a management fee. Tanglbh flxed assets and dèpr•clallon Depreciation is provided at rates calculated to write down the cost of each asset lo its estimated residual value over ils èxpècted useful life. Freehold land is not depreciated. The éepreciation rat&$ in use are as follows.. Freehold and long leasehold property Office equipment, fumiture and fittings Complrter equipment Motor vehicl8# 20A strai9ht lin8 33.30A straight line 33.30A straight line 33.30A straight line Items of equlpment are capitalised where the purchase price exceeds £2,000. Depreciation costs are allocated to aclivilies on the basis of the use of the related ass8ts in those activities. Assets are reviewed for impairment of circumstances indicate their carrying value may exceed their net realisable value and value in use. 17.
SPRINGBOARD SUNDERLAND TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2025 Leases Rentals payable under operating leases. where substanlialty all the risks and rewards of ownership remain with the lessor. are charged to the statement of financial active$ on a straight line basis over the minimum lease term. Penslons The Trust operates a defined contribution pensron scheme for ernployees. The agsets of the scheme are held separately from those of the charitable company. The amount charged lo the stslemenl of financial activities is the contributions payable in the year. Dtfferences b&tsveen contributions payable in the year and actually paid ale shown as either prepayments or oth8r creditors. Agency Income The Twst acts a$ a agent In the administering of 16-19 Bursary Funds and free meals from the ESFA. Related payments received from the ESFA and subsequent disbursements lo students are excluded from the statement of financial activities lo the extent that the Trust does not have a beneficial interest in the individual Iransaclions. The allowance of 5% as a contribution to adminislralion costs is however recognised in the statement of financial activities. Where fvnds have not bèèn fully applied in the year then an amount will be included as amounts due to thg ESFA. In addlllon, the Trust acts as an agent in the administering of Apprenticeship Grants for Employers Funds from the ESFA. Related payments receivèd from the ESFA and subsequent disbursemenis to employers are excluded frorn th8 Statement of financial actNities lo the extent that Ihe Trust does not have a beneficial inlgrest in the individual transactions. Flnanclal Instrumonts The charity has elected lo apply th8 provisions of Section 11 "Basic Financial Instruments" and Section 12"Olher Financial Instruments Issues of FRS 102, in full to all of its financial instruments. All of the Charities financial assets and financial liabilities qualify as basic financial instruments. Basic Financial instruments are initially recognised at transaction value and subsequently measured at their séttlement value. Financial o$&•ts.' Trade and other debtors Trade and other debtors which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost. being the transaction price les5 any amount settled and any impairment losses. A provision for impairment of trade debtors is established when there is oblectNe evidence that th8 amounts due will not be collected according to the onginal temis of the contract. Impairm&nt losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective inl&resl rate. Subsequent reversals of an imp8imient loss that objectr'vely relate to an event occurring after the impairmenl105s was recognised, are recognised immediately in profit or loss. Financial liabilitias.. Trad8 and other creditors Tradè and other creditOTS (including accruals> payable within one year that do not constitute financing transaction are initially meaSUd al the transaction price and subsequenlly mgasured at amrtlsed cosL being the transaction Price less any amounts settled. 18-
SPRINGBOARD SUNDERLAND TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2025 Crllical accountlng estlmates and ar•as of judgement Estimates and judgements are continually evaluated and are based on historical experienc8 and other faclors, including expectations of future events that are believed to be reasonabl8 under the ir¢umslanc8s. R•cov•r•bility of d•btor$ Debtors are r•viéw6d on a line by line basis by the Trust annually. Provlslons are made as appropriate following this review. Volunlary incom•- donatlons Total 2025 Total 2024 Restrlcted Unr•strlct•d Donatn9 Income from donations in 2024 was unrestrfcted. Charftable actlvltles Total 2025 Total 2024 Rastrict•d Unr•strl¢ted Education & Skills Funding Agency 2,389,495 2.389,495 2,498.145 Revenue from nursery, Bistro and Upstream Cty of Sunderland - Nursery Grants Cliy of Sunderland - Other Grants City ofSunderland- Hetton SIB NECA Adult Funding Other income Other grants Apprenticeship co-invostment Total 261.468 158,841 261,468 243.613 82,818 146,853 176,902 5,255 102,333 1,100 213.975 281.103 49.08 78.227 84,772 82,818 106.303 40,550 176,902 5,255 99.475 1,100 5,401 81,713 2.858 276 751 3 133 086 Income from charitable activIeS in 2024 was made up of unrestrictsd funds of £2.930,568 and restricted luThJs of £275,082. Investmenl Income 2025 2024 Cash investments held in the UK Investment income in 2025 and 2024 w8s unrestrlcted. 19-
SPRINGBOARD SUNDERLAND TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2025 Total r•sourc•s •xpended Restrict•d Unrestricted 2025 2024 Staff $ts (Note 7) Secondment and Assessors {agency ¢osts> Trainee allowan¢e8 Premisgs wslg Travel and subsistence Training ¢osts and staff training Health & Safety Malerials and equipment Professional services Interest payable Irre¢overable VAT Sub-contractor costs Marketing Depreciation Other Govemance Grants payable to S18 Bad debts 230,362 2,027,794 2,258,156 1,884,790 24,685 24,685 17.684 54,686 54,686 55,882 379,799 385,384 325,587 47,651 63,718 44,265 61,509 61,509 54,873 36,232 39,887 37,856 196.239 200,438 139,320 83,587 83,587 72,210 15.225 15,225 17,864 99.069 99,069 65,860 404.692 404,692 402,750 35.015 35.015 19,498 85.892 85,892 74,013 162) (62) 19,050 19,050 14,313 14,313 5,585 16,067 3,655 4,199 15,576 12,579 15,627 Total resources exyndad The expenditurè in 2025 related to £259,868 r951ricled funds and £3,585,376 unrestricted funds (2024: £205,242 restrict8d funds and £3.051.022 unrestricted funds) 6. Nèt l•xp•ndlture>llncome for tho year 2025 2024 This is stated after charging: Depreciation- owned assets Lo881 (Profit) on sale of fixed assets Interest payable loan interest Other interest Operating lease rentals: propety Auditors, remuneration 85.892 74.013 1225.681) 14,011 1,189 16,882 982 Tl.227 65.954 7. Staff costs and numbers 2025 2024 Staff sts were as follows: Salarie5 and wages Social security costs Pension Contribuan$ Recruitment costs other costs Lrfe Insurance 2.034.218 1,714,614 148.214 112,762 53.783 45,173 7.706 4,693 294 7.254 13,687 20-
SPRINGBOARD SUNDERLAND TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2025 The average number of eM0y•S during the year was as follows: 2025 2024 No 81 Tr8ining &education Apprentices 92 Trustees During the year, no dlrector recewed any remuneration {2024: £nil}. There wer8 no reimbursed expenses payable to trustees during the year (2024.. £nill- Key managemenl personnel The key management Personnel of the charity comprisg thg porsonnel Ilsted on page 1. The total employee benefrts of the key management personnel of the charity £340,95212024'. £295,536). The number of employees whose remuneration for the year fell within the following bands. were.. 2025 No. 2024 No. £60.000 to £69,999 £70,IXiO to £79,999 Taxation The ITust is exempt from corporation tax as all its income is charitable and is appli6d for Charitable purposes. .21
SPRINGBOARD SUNDERLAND TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2025 Tangiblo fixed aysets Freehold Computor and long equipment leasehold property Offlce Fumlture and Ilttlngs Motor vehlcles T¢tsl Cost At the start of Ihe year Additions in year Disposals in year 2.532.481 266,205 384.470 61,087 72,195 3,244,243 72,195 At the 8nd of the year D•precialion At the start of the year Charge for the year Disposals in the ygar 1.050,998 50,647 266,205 368.563 14,679 61,087 20,566 1,746,853 85,892 At the Ènd of IhÉ year N•t book valu• At th8 8nd of the year At the start of the year Included whhln the net book value of £1.430,836 of freehold and long leasehold property is £1,162,795 which lateS to long leasehold prop8rtie5. 10. Debtors 2025 2024 Trade debtors Other debtors Prepayments Social Security and Other Taxes 122,429 89,601 46,489 817 232,628 26,996 53,965 2,557 11. Credltors: amounts due wlthln one year 2025 2024 Bank toan- repayable wtthin one year other creditors Social Security and Other Taxes 78.299 75,357 1.364.208 1,127,504 42.624 35,799 The bank loan in the year is from Barclays and is repayable by monthly Instslments 8nd bears a fixed rate interest at 3.85Yo per annum. The loan is secured by fixed Charges over of the charitable company's freehold propertie$ as well as of its le8sehold proPe,e8. The loan is repayable over 10 year term. -22-
SPRINGBOARD SUNDERLAND TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2025 12. Crodltors: amgunts due after ono yoar 2025 2024 Bank loan repayable wthin one lo two years repayable wlhin two to five years Repayable over five years 81,367 78,309 84,556 158,774 79,113 85,973 The bank loan in the year is from Barclays and is repayable by monthly inslalments and bears a fixed rate interest at 3.85% per annum. The loan is secured by fixed charges over two of the charitable company's freehold properties as well as of its leasehold properties. The loan is repayable over 10 year term. 13. Financial Instruménts The carying value of the Charity's financial instwmonts at 31 July were: 2025 2024 Flnanclal assels Debt instruments measured at anrtISed cost.. Trade debtors Other debtors 122,429 89.601 232.628 26.996 Financial liabi111185 Measured at amortised cost: Bank loans Other Creditor3 323.335 398,413 1,364,207 1,127,504 -23-
SPRINGBOARD SUNDERLAND TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2025 14. Movements In funds At I Augllst 2024 Incomlng resourcos Outgoing Transfers Tg5gufcoS At 31 July 2025 Deslgnated funds: Fixed Asset Fund 1,098,972 {99.903) 161,289 1.160.358 Total doslgnated funds Summary of Funds Designated Funds General Funds 1,098,972 {99.903) 161,289 {367,9751 3,141,733 (3,485.473) (74,5661 1.160,358 1786,281) 730,997 69,840 3,141,733 (3,585.376) 86,723 276,751 1259.868) (86,7231 374.077 Restricted Funds 418 48 Purposo of designat funds The fixed asset fund represents the valu8 of unrestricted fixed assets, tess any loans used to finance them. Thè transfer in the year reflects the adjustment lo depreciation, 5oan repayments and assets realloratad to general fund8 to be sold post year end. Movements in funds- prlor year At 1 August 2023 Incomlng rnsources Outgolng Transfers rosourcgs At 31 July 2024 Deslgnated funds: Fixed Asset Fund CUrnt Asset 1,100,780 24.319 190,8981 89,090 (24,3191 1,098,972 Totsl de61gn*ed funds Summary of Fund$ Designated Funds General Funds 1,125,099 {90.8981 64,771 1509.612) 2,940,851 (2,734.4431 (64,7711 1.098,972 1367,975) 615,487 2,940,851 (2,825,341) 275,082 1205,242} 730,997 69,840 Restricted Funds 61 .24-
SPRINGBOARD SUNDERLAND TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2025 15. Anilysis of rèstrlctod fund movements At 1 August 2024 Incomlng resour5 0goIng re50urc8s Transfers At 31 July 2025 Communities Connec18d R U Ready UC Durham Wildlife Trust DCC Durham Works SCC Pallion Clean and Green SCC can it Green It Wise Group Stephenson Trial SCC Huher Needs 20,127 27,843 120.1271 127.8431 69,840 {69.840) 47.847 147.8471 21,805 61,012 58,334 2.858 36,925 121.8051 (44.1291 {16,883) 158.3341 12.8581 (36.9251 Analysls of restrictod fund movement8- prfor year At 1 August 2023 Incomlng resources Outgolng resources Transfers At 31 July 2024 commun88 Conneded R U Ready UC Durham Wildlile Trvst DCC Durham Works SCC Pallion Clean and Green SCC Clean it Green11 Wise Group 19,077 24,190 69,840 81,714 119.077} 124.190} 69,840 181.714} 16.453 32.632 31,176 116.4531 132.6321 131,1761 Th8 transfers represent a pontoon and a Irailer purchased from funds recèived wtlh the purpose of being spent on thès8 assets. Communities Connected represents funds received from Sundedand Clty Council towards digit81 training and increasing confidence In using IT. R U Ready UC represents funds received from Sundedand City Coun¢S1 Nelghbourhwd Fund toward$ supporting local residents in their 8ppIic8tion for Universal Credlt. Durham Work5 repressnts funds received in respect of the Durham Works project with Durham City Council lo encourag8 young people who are disengaged wlth education. unemployed and who may have special educatiortal needs, The programme covers confidence building and personal development, matching skills, strèngths and attributes to employment. Durham Wildllfe Trust represents funds received from Sunderland City Council towards the cost of purch8slng a new tractor with flail hedge Guttor and flail mower collector. This was purchased in August 2024. .25-
SPRINGBOARD SUNDERLAND TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2025 15. Analysls of rostrlctèd fund movements {conllnued) SCC - Pallion Clèan and Green represents funds recewed from SCC NeighbcAJrhcM)d Fund programme to improve green spaces and urt)an environments for tho benefit of the communty in the Pallion, West Sundgrtand area. SCC Clean It Green 11 represents funding from SCC Neighbourhood Fund Coalfield area programme lo improve green spaces and urban environments for the ben¢fil of the cc*mmunity. Wise Group - Wise Group represents funding from SCC for mentoring support lo economically inactive residents across the Sunderland area, offering a wide rang of activtties and services to address the varied. complex barriers that prevent many securing and suslainirwJ quality employment. Stephenson Trial Environmental Improvements - Stephenson Trial represents funds to maintain and improve the trail from Elemore Park lo the A19. SCC Higher Needs - The Higher Needs Funding frorn SCC is funding provided to support children and young people 10-25} with significant special edUbonal needs ISENI or disabiliti8s, often through Educallon. Health and Care Plans IEHCPs). 16. Analysls of net assols befvmen funds Dosignated funds Restrlcted Funds G•noral funds Total funds Tangible fixed assets Current assets Net current liabilities Long-lerm liabiliti•$ 1.483.693 1.483.693 620.551 620.551 11,406.8321 11.485,131) 1245,0361 178.2991 1245.0361 Net assels at 31 July 2025 An•ly$l$ of nel assets between funds- prlor year Dfrslgnated funds Rèstrlcted Funds General funds Total lund$ Tangiblé fixed assets Cu6nt assets Net current liabilities Long-lerm liabilities 1,497,390 151 {75,3571 {323,058) 1.497.390 795,328 865.163 {1,163.3031 11.238,6601 1323.0561 69,840 Net assets at 31 July 2024 17. Other financial commltm•nts 2025 2024 Opèrating leases which 8xpire'. thin one year within one lo tsvo years within kn lo five years 58,700 204,800 2,133 66.717 204,800 53,333 .26-
SPRINGBOARD SUNDERLAND TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2025 18. Penslon commltments The charity operates a defined contribution pension sch•me for all qualifying employ@8s. The assets of the Scheme are held separately from those of the charity. in int1ependently administered fund. The contributions payable by the charity charged to ineome and expenditure as part of charitable activities. amounted to £53,783 12024.. £45,173) and all related to unrestrictèd funds. Amounts payable of £11,48912024.' £2821 are included in other creditors at the year end. 19. Reconclllatlon of n¢t {outgolngVlncomlng rn$our¢•s to net cash Inllow from op•rntlng actlvltles 2025 2024 Net loutgoingifincoming resiyjrces: Interest receivable Interest payable Depreciation LosslProfit on disposal of fi'xed assets IlncreaseyDecrease in debtors IDecreaseyln¢rease in creditors (426.7601 16,2941 15,225 85,892 185,350 {7.403} 17.864 74.013 1225,681) 56,810 1109.998) 243,529 100.295 20. Ultlmate parent company and controlllng party ith effect from 31 July 2014 it is considered that there is no paty wlth control. 21. Related party transactions Springboard Sunderland and Sunderland RCA football club are related parties Since Colin Wilson has si9nificant control of the football club and is 8 ITuslee of Springboard Sunderland Trust during the year ended 31 July 2025. Springboard Sunderland were financially irNoFved in the football dub during 2020 provldlng prlnting services from Springboard which are recharged lo the club. The club provided sporting facllities and work experfence opportunities to Springb¢)ard in retum. The amount owed lo Springboard Sunderland by the club at the year end was £31.492 12024.. £39,712). Springboard Sunderland Trust and North East Leaming Provider Network Ltd are related paeS s one of the trustees is also a trustee of North East Learning Provider Melwork Ltd. The amount owed lo Springboard Sundedand Tnjst at the year end was £608.75 (2024.. £608.751- 22. Agency arrangwnents The charity administers the disbursement of the new discretionary SUPPOrt for learners, 16-19 Bursary Funds. on behalf of the ESFA. In the y8ar it reiVed £85,773 12024: £105,563) and disbursed £19.711 {2024: £20,211) and a balance of £564.995 (2024.. £498,932). The charity also administers the disbur¥gment of free meals on behaff of tho ESFA. In the year it received £19,309 {2024- £20,669) and disbursed £3,293 {2024: £2,950) and a balance ef £328,866 (2024.. £312.8511 remained in creditors at the year end.
SPRINGBOARD SUNDERLAND TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2025 23. Going concem The financial statements have been prepared on a goiThJ concem basis. As disclosed in Ihg accounting policies, the directors have assessed the trust's ability to continue as a going concern for a period of at least e1ve months from th8 dale of approval of these financial statements. The Trust has a matÈrial unsecured liability of £1,048,238. There are no formal repayment terms and no fixed repaymènt date associated with this balance. As at thg date of approval of thes8 financial statements. no demand for repayment has been made. In the event that the credilor were lo reque$l repayment within the next tsvelve months, the Trust may be required to realis6 certain assets in order lo generate sufficient funds to settle the liability. The timing and amount of any Such asset realisalions are uncertain. However, the absence of a formal repayment agreement gives rise lo a material uncertalnty which may cast signrficant doubt on the Company's ability to continue as a going concem. The financial statements do not includ6 any adlustments that would result if the Company We unable to continue as a going coneern. -28-