Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Company Registration No. 02474511 (England and Wales) Charity Registration No. 702709
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr M Smithies Mr D M S Henderson Mr J Waterhouse Miss J Smithies {Appointed 28 February 2024) Secretary Mr M Smithies Charity number 702709 Company number 02474511 Principal address 13 South Square Thomton Bradford BD18 3LD Registered office 13 South Square Thornton Bradford BD18 3LD Independent examiner Alison Whalley FCA Azets Audit SeprficesLtd Carlton House Grammar School Street Bradford BD14NS Bankers Barclays Bank plc 10 Market Street Bradford BD11EG
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED CONTENTS Page Trustees report Independent examinerfs report Statement of financial activities Balance sheet Notes to the accounts 8-17
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report and financial statements for the year ended 31 March 2024. The accounts have been prepared in accordance wth the accounting policies set out in note 1 to tFE accounts and comply with the Charity's Memorandum and Articles of Association, Ihe Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019). Objectives and activities The company was established for the advancement and promotion in the area of Bradford Metropolitan District Council and surrounding areas for the public benefit of education and useful knowledge in relation to the workings of the human mind and body and the adverse effects that the abuse of drugs, alcohol and other substances can have. The objectives are'.- The education of people, especially young people, on how the human body works and the effect drugs, alcohol and other substances may have on the working of the human body. To equip people, especially young people, to understand and overcome pressures to abuse the working of their bodies. To encourage in people, especially young people, in awareness of their uniqueness and potential as human beings and of the uniqueness and potential of other human beings. To equip people, especially young people, with the skills necessary to understand and overcome pressures to limit the uniqueness and potential of human beings. To educate people, especially young people, on the relationship beeen human beings animals the environment and the universe and on the effect of interfering with the environment and the universe. To equip people, especially young people, with the skills neSSary to understand and overcome pressures to abuse the environment and the universe. To equip people, especially young people. ryth the outlook life skills and philosophy necessary to promote a feeling of harmony within themselves, wth others, the environment and the universe. To train people and provide ntreS and facilities to cary out all or any one or more of the above objects. The charity provides mobile dassrooms and training of educators who visit schools to deliver prOammeS relating to the objectives. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. The Charity's policy is to consult and discuss wth employees, through unions, staff Councils and at meetings, matters likely to affect employees, interests. Infomiation of matters of concem to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance. Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment wthin the Charity continues and that the appropriate training is arranged. It is the policy of the Charity that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED TRUSTEES REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance This is the second year after the covid-19 pandemic and activity levels are now above those before the pandemic. Our Educators are continuing to deliver our sessions in the classroom. We do still have two caravans but we cannot see them ever being used again given the restrictions on space and air quality. We havè therefore put them up for sale with Lintons. although so far we have not had a reasonable offer for them. The promised legislation to require schools to provide relationship education, for which our Life Education offering is ideally suited, has finally been enacted and became effective in September 2022, although schools were given a further e1ve months to prepare. So September 2023 became the effective date for schools to show they were satisfying this requirement. The Life Education programme and content, including the SCARF on-line offering, has been extensively updated and exiended. It now meets all the new requirements from the Department of Education and indeed the OFSTED inspection framework. We are therefore in an excellent position to help Bradford schools to meet their requirements under the new legislation. Demand from schools has grown as a result. There is competition from some new entrants and existing competitors but we are confident following market research that we do have the best product. Obviously we have to promote and sell it vigorously. as we are doing. helped by excellent tests'monials from teachers. On-line teacher forums have proved very supportive. Sales of the SCARF on-line product have continued to grow and in each case we receive part of the license fee charged by Coram as a commission. This provides useful inrne at no extra cost. We also get a strong introduction to the school with the opportunrty to sell our Life Ed program. Our team of Educators comprises Jane (four days), Juliet {two and a half days), Julia (three days), and Lucy, our full-time Team Leader. Julia started in early 2023 so this is the first full year with our extended team. However, pressure on school budgets is growng and we are on occasion having to make offers and sFe¢ial deals. Sales to schools reached £88k. our highest figure yet. and they continue to grow. Before depreciation we made a small operating loss but the continued very generous support from the Keith Howard Foundation, in the form of a £30k grant, meant that overall we showed a small loss of £7k. Keith was a founder-Trustee and his charitable work has continued after his sad death with his granddaughter Melissa Tomlinson, nee Fojt, now chairing the d)aritable foundation in his name. We very much hope Ihat our long association continues. Our cash position remains healthy with net current assets at £110k, slightly down from £115k. This reserve represents something less than one year's trading and so is wthin the Charity Commissions guideline. Our Trustees have attended regular meetings, via Zoom, and all have contnbuted. Maurice Smithers has continued as Treasurer for yet another year and we are grateful to him. Jane Smithers has also provided invaluable help with invoicing and was also welcomed as a Trustee. Our educator team have done exceptionally well in a further difficult year. The Trustees want to thank Lucy, Jane, Juliet and Jane for their continued service and dedication. The need for our service remains as strong as ever with OFSTED looking for schools to have a full Relationship and Sex Education program in place. Regular class teachers do not always find this easy and so look for help which Life Education and SCARF are ideally placed to provide. New Life Ed child mental health modules have been introduced into the SCARF program which will allow us to meet this new and growing demand. School budget pressures remain the greatest barrier.
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED TRUSTEES REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Fundraising Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. The legislation defines fundraising as 'soliciting or otherwise procuring money or other propety f( charitable purposes.. The charity does not actively raise funds from the public either directly or via use of an agent, accordingly no such amounts are presented in the financial statements for the year under review. The charity has received no complaints in relation to fundraising activty for the year under review. Given the nature of the funding of the charity the Trustees consider that it remains appropriate not to be voluntarily bound to be regulated by the Fundraising Regulator.
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED TRUSTEES REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Financial review Full details of the financial transactions are contained in the attached Statement of Financial Activities, Balance Sheet and Notes. Total incoming resources for the year were £128,572 (2023 £123,079) and after deducting reSoUrS expended of £138,649 (2023 £119,403) the net expenditure was £10,077 12023 £3,676 net income). The net assets of the charity at the financial year were £118,415 {2023 - £128,492), this being made up of £10,287 designated funds and £108,028 general funds. The charity aims to have 9 months expenditure, equating to £102,000, in reseNes to ensure the continuation of the charity. This level of reserves has been achieved. The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major nsks. Structure, governance and management The Charity is a company limited by guarantee and was incorporated on 27 February 1990, registration number 02474511, and registered as a charity in England and Wales on 20 March 1990, registration number 702709. The Trustees, who are also the directors for the purpose of company law, and vtho served during the year and up to the date of signature of the financial statements were= Mr M Smithies Mr D M S Henderson Mr J Waterhouse Ms M Fojt Miss J Smithies (Resigned 28 July 2023) (Appointed 28 February 2024) Trustees are recruited for their experience and skill to benefft the charity- Training is provided if necessary. None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. Indemnity insurance is included in the Insuran costs. The charity is run by the trustees as listed on the Legal and Administrative Information page. The Trustees report was approved by the Board of Trustees. n(Y gMdluLs J (1)JkAsL r lf*0,05e OED4FIF845A... mithies Trustee Dated: 27 March 2025 Trustee Dated.'27 March 2025
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIFE EDUCATION {BRADFORD) LIMITED I report on the financial statements of the Charity for the year ended 31 March 2024, which are set out on pages 6t017. Respective responsibilities of Trustees and examiner The Charity's Trustees, who are also the directors of Life Education (Bradford) Limited for the purposes of company law, are responsible for the preparation of the financial statements. The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to.. examine the financial statements under section 145 of the 2011 Act., (li) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145{5){b) of the 2011 Act- and (iii) to state whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried out in accordance wth the general Directions given by the Charity Comm ission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disdosures in the financial statements, and seeking explanations from you as trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a 'true and fair view and the report is limited to those matters set out in the next statement. Independent examinerfs statement In connection with my examination, no matter has Come to my attention: (a) which gives me reasonable cause to believe that in any material respect the requirements.. {1} to keep accounting records in accordan with section 386 of the Companies Act 2006,. and (li) to prepare financial statements which accord wth the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and wth the methods and principles of the Statement of Recommended Practice.. Accounting and Reporting by Charities: have not been mel or (b) to which, in my opinion, attention should be dravm in order to enable a proper understsnding of tPE financial statements to be reached. Svjned ty.. Be21*&5F42aD2.. Alison Whalley FCA Independent examiner Azets Audit Services Limited Cadton House Grammar School Street Bradford BD14NS Dated: 27 March 2025
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Unrestricted funds funds 2024 2023 Notes Income from: Donations and legacies Charitable activities Investments 33,500 94,554 518 41,626 81,337 116 Total income 128,572 123,079 Charitable activities 138,649 119,403 Net {expenditure)lin¢ome for the yearl Net movement in funds (10,077) 3,676 Fund balances at 1 April 2023 128,492 124,816 Fund balances at 31 March 2024 118,415 128,492 The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies Vth the requirements for an income and expenditure account under the Companies Act 2006.
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 11 12 10,287 100 13,715 100 10,387 13,815 Current assets Debtors Cash at bank and in hand 13 27,907 90.736 77,760 51,558 118.643 129,318 Creditors: amounts falling due within one year 14 (10,615) (14,641) Net current assets 108,028 114,677 Total assets less current liabilities 118,415 128,492 Income funds Unrestricted funds Designated funds General unrestricted funds 16 10,387 108.028 13,815 114.677 118.415 128.492 118,415 128,492 The company is entided to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial ststements for the year in question in accordance with section 476. These financial statements have been prepared in accordance wth the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 27 March 2025 Do¢u*ned by. J (lJdLknsL E845A. Mr'th¥mitA E41B ouse ies Trustee Trustee Company registration number 02474511
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Life Education {Bradford) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 13 South Square, Thomton, Bradford, BD18 3LD. 1.1 Accounting convention The accounts have been prepared in accordance with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charilies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). (as amended for accounting periods commencing from 1 January 2019). The Charity is a Public Benefit Enlity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in fvrtherance of their charitable objectives. Restricted funds are subject to speafic conditions by donors as to how they may be used. The purwses and uses of the restricted funds are set OLrt in the notes to the financial ststements. 1.4 Income Income is recognised when the Charity is legally entitled to it after any perfomiance conditions have been met, the amounts Can be measured reliably, and it is probable that income will be reived. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on reIpt or otheIse if the Charity has been notified of an impending distribution. the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) 1.5 Expenditure Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaiment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases= Equipment Mobile classrooms 250A reducing balance 250h reducing balance The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale proceeds and the carrying value of the asset. and is recognised in the statement of financial activities. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction pri excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impairment of fixed assets At each reporting end date, the Charity reviews the carying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indtation exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient loss {if any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in Current liabilities. 1.10 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charitys balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, wth the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which indude debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a finanang transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as Current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the Charity's accounting policies, the Trustees are required to make judgements. estimates and assumptions aboLrt the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects cnly that period, or in the period of the revision and future periods where the revision affects both Current and future periods. 10-
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Donations and legacies Unrestricted Unrestricted funds funds 2024 2023 Donations and gifts 33,500 41,626 Donations and gifts Life Education Mobiles {2010) Ltd Sovereign Health Care Community donation Rotary Club of Bradford Blaize Bradford Schools Drug Prevention Initiative The Keith Howard Foundation (Fomierly Emerald Foundaton) 1.000 3,000 2,500 1,000 1,000 6,626 30,000 30,000 33,500 41,626 Charitable activities Charitable Charitable Income Income 2024 2023 Charges for classroom provision Commission 88,260 6,294 75,403 5,934 94,554 81,337 Investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 518 116 11
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Staff costs Travelling Licence fee Vehicle costs Teaching materials and equipment 105,128 5,442 10,679 700 235 82,933 3,043 9,368 175 789 122,184 96.308 Share of support costs {see note 7) Share of governance costs (see note 7) 14,515 1,950 21,180 1,915 138,649 119,403 Support costs Support Governance costs costs 2024 Support Governance Costs costs 2023 Depreciation Rent and rates Insurance Training Telephone Sundry expenses Bank charges Payroll fees 3,429 4,180 4,802 3,429 4,180 4,802 8,948 3,251 4,163 2,696 593 903 103 523 8,948 3,251 4,163 2,696 593 903 103 523 923 402 103 676 923 402 103 676 Independent examiner's 1,950 1.950 1,915 1,915 14,515 1,950 16,465 21,180 1,915 23,095 Analysed beeen Charitable activities 14.515 1.950 16.465 21.180 1,915 23,095 All support and governance costs are allocated to the sole charitsble actrvity. Trustees None of the Trustees {or any persons connected with them) received any remuneration, benefits or expenses from the Charity during the current or previous year. 12-
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Employment costs 2024 2023 Wages and salaries Social security Costs other pension costs 98,274 3,294 3,560 77.357 1,911 3,665 105,128 82,933 No employee eamed more than £60,000 during the current or previous year. 10 Taxation As a charity the company is exempt from tax on income falling within part 11 of the Corporation Tax Act 2010 and on gains falling within s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives. No tax charges have arisen in the Chartty. 11 Tangible fixed assets Equipment Mobile classrooms Total Cost At 1 April 2023 10,935 94,324 105,259 At 31 March 2024 10,935 94,324 105,259 Depreciation and impaimient At 1 April 2023 Depreciation charged in the year 8,866 517 82,678 2,911 91,544 3.428 At 31 March 2024 9,383 85.589 94.972 Carrying amount At 31 March 2024 1,552 8,735 10,287 At 31 March 2023 2,069 11,646 13,715 13-
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Fixed asset investments Unlisted investments Cost or valuation At 1 April 2023 & 31 March 2024 100 Carrying amount At 31 March 2024 100 At 31 March 2023 100 13 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Prepayments 27,820 87 77,691 69 27,907 77,760 14 Creditors: amounts falling due within one year 2024 2023 Other taxation and social security Accruals and deferred income 5,859 4,756 11,020 3,621 10,615 14,641 15 Retirement benefit schemes Defined contribution schemes The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The charge to profit or loss in respect of defined contn'bution schemes was £3,56012023 - £3,665). 14-
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Designated funds The income funds of the Charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.. Balance at 1 April 2022 Resources expended Transfe Balance at 1 April 2023 Resources Balance at expended 31 March 2024 Fixed asset fund Investments in entities 23,638 100 (6,017) {3.906) 13.715 100 (3,428) 10.287 100 23,738 (6,017) {3,906) 13,815 (3,428) 10,387 The fixed asset fund represents the net book value of the fixed assets. The investments in entities nd represents the cost of investment in Life Education Mobiles (2010) Limited, a company in which the charity owns a 12.50/0 share. 15-
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD u•uJ tsi In XJ tr- (D
Docusign Envelope ID.. 4DC65A66-6E3B481&A3F7-E18E267554BD LIFE EDUCATION (BRADFORD) LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Analysis of net assets between funds General Designated funds funds 2024 2024 Total General Designated funds funds 2023 2023 Total 2024 2023 Fund balances at 31 March 2024 are represented by.. Tangible assets Investments Current assetsl(liabilities) 10,287 100 10,287 100 108,028 13,715 100 13,715 100 114,677 108,028 114,677 108,028 10,387 118,415 114,677 13,815 128,492 19 Related party transactions Remuneration of key management personnel The remuneration of key management personnel is as follows. 2024 2023 Aggregate compensation 40,181 39.502 Transactions with related parties During the year the Charity entered into the following transactions wrth related parties.. During the year £400 was paid to Jane Smithies for self employed work. Jane was appointed as a trustee of Life Education {Bradford) Limited on 28 February 2024 and is also the daughter of Maurice Smithies a Trustee of Life Education (Bradford) Limited. During the year invoices were raised amounting to £108.603 to Life Education Mobiles (2010) Limited. (2023 £96,599} M Smithies is a Director of both Life Education (Bradford) Limited and Life Education MobiÈs {2010) Limited. At the year end Life Educats'on Mobiles (2010) Limited owed Life Education {Bradford) Limited £22,758 (2023 £47,691). The arrangement wth Life Education Mobiles (2010) Limited came to an end on 31 March 2024. As from 1 April 2024 all schools will be invoiced directly from Life Education (Bradford) Limited. 17-