The trustees who are also directors of the charitable company for the purposes of the Companies Act 2006 present their annual report and financial statements for the year ended 31 July 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
The London Learning Foundation (LLF) was formed in May 2013 as a wholly-owned charitable subsidiary of London Learning Consortium Community Interest Company. The London Learning Foundation aims to develop and support projects that promote health and wellbeing to young people and adults over the age of 18 within the Borough of Croydon.
There was no activity in the years ended 31 July 2024 and 31st July 2025. The charitable company will continue to remain open for community initiatives going forward.
The charitable company reports income of £nil (2024: £nil). Charitable expenditure has decreased to £nil for the year (2024: £1,185) resulting in no surplus or deficit for the year (2024: deficit of £1,185).
As at the balance sheet date, the charitable company reports assets of £7,484 (2024: £7,484), liabilities of £nil (2024: £nil), and a net asset position of £7,484 (2024: £7,484). All reserves held are unrestricted.
The charitable company is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Any person who is willing to act as a trustee of the charitable company and is permitted to be so appointed by the law and the articles, may be appointed to be a trustee:
a) by Ordinary Resolution;
b) by a decision of the trustees with the prior written agreement of the parent company London Learning Consortium Community Interest Company (LLC); or
c) by notice in writing from LLC.
Before agreeing to become a trustee they will be informed of the charitable company's structure, objectives and activities, and their responsibilities as a trustee.
Once appointed, trustees will be supported by the Board of Trustees in any area of induction or training needed. Regular updates are provided at the meetings with regards to governance issues and changes to charity regulations.
The trustees' report was approved by the Board of Trustees.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of London Learning Foundation for the year ended 31 July 2025, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made to the charitable company's trustees, as a body, in accordance with the terms of our engagement letter dated 17 November 2025. Our work has been undertaken solely to prepare for your approval the financial statements of London Learning Foundation and state those matters that we have agreed to state to the charitable company's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than London Learning Foundation and the charitable company's trustees as a body, for our work or for this report.
It is your duty to ensure that London Learning Foundation has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and results of London Learning Foundation. You consider that London Learning Foundation is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of London Learning Foundation. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The statement of financial activities includes all gains and losses recognised in the year.
London Learning Foundation is a private charitable company limited by guarantee incorporated in England and Wales. The registered office is Christopher Wren Yard, 119 High Street, 3rd Floor, Croydon, Surrey, CR0 1QG.
The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charitable company is a Public Benefit Entity as defined by FRS 102.
The charitable company has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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.
The charitable company 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 charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.
Basic financial assets, which include 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.
The average monthly number of employees during the year was:
The charitable company is exempt from taxation on its activities because all its income is applied for charitable purposes.
The unrestricted funds of the charitable company comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
No disclosure has been made of the transactions with other wholly owned group companies in accordance with FRS 102 'The Financial Reporting Standards applicable in the UK and Republic of Ireland', as the charitable company is itself a wholly owned subsidiary of London Learning Consortium Community Interest Company.