LEARNEST CIC

Company limited by guarantee

Company Registration Number:
11772287 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2023

Period of accounts

Start date: 1 February 2022

End date: 31 January 2023

LEARNEST CIC

Contents of the Financial Statements

for the Period Ended 31 January 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

LEARNEST CIC

Directors' report period ended 31 January 2023

The directors present their report with the financial statements of the company for the period ended 31 January 2023

Principal activities of the company

We deliver a range of commercial services to our clients that support LGBTQ+ workplace inclusion. We use the profits from our commercial work together with funding from our Grant Funders to deliver programmes that directly benefit the LGBTQ+ Community.This financial year we have seen a steady recovery from the downturn we experienced during the Covid-19 pandemic, and we have continued to develop our community-facing services. The principal activity ofLearnest CIC is to provide workshops, training, and development opportunities for LGBTQ+ people across the UK, and most of our delivery is online. With support from our funders, we have delivered over 32 one-to-one intensive mentoring relationships for LGBTQ+ people to receive specialist, peer-led coaching focusing on developing skills and confidence. We also delivered several events and workshops throughout the year focusing on community resilience and inclusion. We had 1047 LGBTQ+ people attend our online events, andnetworks throughout 2021-22.



Directors

The directors shown below have held office during the whole of the period from
1 February 2022 to 31 January 2023

Rossella Nicosia
Sophie Ann Beer
Louie Faro


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
28 September 2023

And signed on behalf of the board by:
Name: Louie Faro
Status: Director

LEARNEST CIC

Profit And Loss Account

for the Period Ended 31 January 2023

2023 2022


£

£
Turnover: 61,263 71,642
Gross profit(or loss): 61,263 71,642
Administrative expenses: ( 64,869 ) ( 68,584 )
Operating profit(or loss): (3,606) 3,058
Profit(or loss) before tax: (3,606) 3,058
Tax: 646 ( 539 )
Profit(or loss) for the financial year: (2,960) 2,519

LEARNEST CIC

Balance sheet

As at 31 January 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 2,395 297
Total fixed assets: 2,395 297
Current assets
Debtors: 4 1,567 3,121
Cash at bank and in hand: 40,730 6,445
Total current assets: 42,297 9,566
Creditors: amounts falling due within one year: 5 ( 43,582 ) ( 7,078 )
Net current assets (liabilities): (1,285) 2,488
Total assets less current liabilities: 1,110 2,785
Creditors: amounts falling due after more than one year: 6 ( 1,279 ) 0
Provision for liabilities: ( 63 ) ( 57 )
Total net assets (liabilities): (232) 2,728
Members' funds
Profit and loss account: (232) 2,728
Total members' funds: ( 232) 2,728

The notes form part of these financial statements

LEARNEST CIC

Balance sheet statements

For the year ending 31 January 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 28 September 2023
and signed on behalf of the board by:

Name: Louie Faro
Status: Director

The notes form part of these financial statements

LEARNEST CIC

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

LEARNEST CIC

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

LEARNEST CIC

Notes to the Financial Statements

for the Period Ended 31 January 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 February 2022 1,793 0 1,793
Additions 1,331 2,014 3,345
Disposals
Revaluations
Transfers
At 31 January 2023 3,124 2,014 5,138
Depreciation
At 1 February 2022 1,496 0 1,496
Charge for year 742 505 1,247
On disposals
Other adjustments
At 31 January 2023 2,238 505 2,743
Net book value
At 31 January 2023 886 1,509 2,395
At 31 January 2022 297 0 297

LEARNEST CIC

Notes to the Financial Statements

for the Period Ended 31 January 2023

4. Debtors

2023 2022
£ £
Trade debtors 600 3,121
Prepayments and accrued income 315 0
Other debtors 652 0
Total 1,567 3,121

LEARNEST CIC

Notes to the Financial Statements

for the Period Ended 31 January 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 57 1,019
Taxation and social security 1,402 652
Accruals and deferred income 42,105 5,389
Other creditors 18 18
Total 43,582 7,078

LEARNEST CIC

Notes to the Financial Statements

for the Period Ended 31 January 2023

6. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Other creditors 1,279 0
Total 1,279 0

COMMUNITY INTEREST ANNUAL REPORT

LEARNEST CIC

Company Number: 11772287 (England and Wales)

Year Ending: 31 January 2023

Company activities and impact

The principal activity of Learnest CIC is to provide workshops, training, and development opportunities for LGBTQ+ people across the UK. We deliver various commercial services/contracts that support our clients in building more inclusive workplaces. We use the profits from our commercial work, together with funding from our Grant Funders, to deliver programs that directly benefit the LGBTQ+ Community. This financial year, we have focussed on delivering community-facing projects funded via grant funding. We have developed our delivery model to focus more on in-person delivery. In August 2022, we secured and began to build an LGBTQ+ community centre in Wakefield, West Yorkshire, along with continuing to deliver our online Mentoring and Advocacy programmes to LGBTQ+ people across the UK.With support from our funders, we have delivered 12 one-to-one intensive mentoring relationships for LGBTQ+ people to receive specialist, peer-led coaching focusing on developing skills and confidence and launched an advocacy programme for trans and non-binary people where we supported 28 people dealing with hardship. We also delivered several events and workshops at our community space. We had 1232 LGBTQ+ people attend our in-person events and access our services throughout 2022-23.

Consultation with stakeholders

We gather feedback from our stakeholders, both our commercial clients and the LGBTQ+ community, wherever possible, usually at the end of every intervention, workshop, or event.We also conduct an annual community survey to gather the thoughts and wishes of our main beneficiary group, the LGBTQ+ community. Since we launched in 2019, many people we work with have told us that the absence of sober LGBTQ+ spaces and venues for communities to come together in person is one of the biggest challenges our communitiesface, resulting in high levels of loneliness and isolation.In response to this feedback, in August 2022, after 6 months of planning and fundraising, we opened ‘Our House’ the new LGBTQ+ centre in Wakefield, West Yorkshire, where many of our service users live. This venture supports approximately 2000+ per year people from thelocal community (and those visiting the area) to build skills and create opportunities to come together.In response to feedback from the LGBTQ+ people we work with, we designed and launched a new peer-led Advocacy service in 2022. This service supports Trans and Non-binary people with the challenges they experience in Employment settings and their wider lives.

Directors' remuneration

Our director Louie Faro was paid through payroll. Our other directors did not receive any renumeration in this financial year. There were no other transactions or arrangements in connection with remuneration of directors, or compensation for director's loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
28 September 2023

And signed on behalf of the board by:
Name: Louie Daniel Faro
Status: Director